GF NEW GERMANY FUND INC Insider Trading

Saba Capital Management purchases 55,138 shares of GF at $12.00–$12.05 for $661,661.00; holdings now 3,436,762 shares.

Saba Capital Management, a 10% owner, filed two separate open-market purchases totaling 55,138 shares for $661,661.00 on consecutive trading days (June 1–2, 2026) at prices between $12.00 and $12.05, increasing holdings by 1.6% to 3,436,762 shares. The current stock price of $12.04 is near the transaction range and down 6.1% from the 52-week high of $12.82, while the 30-day and 90-day momentum show gains of +5.2% and +5.6% respectively. Saba's cross-ticker track record shows 15 prior buys with a 100% 90-day win rate and +2.0% average 90-day returns; at GF specifically, all 5 prior buys were also well-timed with positive 90-day returns ranging from +0.2% to +2.3%. The consecutive purchase pattern and sustained accumulation in a stock where the insider has established timing success merit investor attention.

Saba Capital (10% owner) buys 6,342 shares of GF at $12.18 avg; prior 5 consecutive trades at this ticker all well-timed at 90d.

Saba Capital Management filed two consecutive open-market purchases totaling 6,342 shares for $77,257.23 on May 28–29, 2026, at a blended average price of $12.18—slightly above the current price of $12.07 but well below the 52-week high of $12.82. The acquisition increased holdings to 3,381,624 shares, a +0.2% increment. Notably, this marks the sixth consecutive purchase at GF within days: the five prior trades on May 14, 18, 19, 20, and 21 all posted positive 90-day returns (ranging 0.2% to 2.3%), with all 5 executing as well-timed entries. The stock is currently up 4.0% over 30 days and 5.0% over 90 days, consistent with this insider's pattern of buying into periods of strength. Across Saba's broader cross-ticker track record, 15 prior buys averaged a 100% 90-day win rate at +2.0% returns, lending credibility to the timing patterns observable in the GF series.

Saba Capital (10% owner) purchased 244,493 shares in 2 transactions for $2,916,482.49, expanding stake by 7.8% at blended price $11.93.

Saba Capital Management executed two separate purchases totaling 244,493 shares for $2,916,482.49, raising holdings from 3,130,789 to 3,375,282 shares. The 7.8% increase in the 10% owner's position occurred at a blended average price of $11.93, modestly below the current price of $12.14. Notably, this purchase extends a pattern of five consecutive buy transactions by this insider at GF over the prior week (May 14–21), with all five prior buys posting positive 90-day returns, indicating consistent timing of entry points. The 30-day price movement of +7.8% aligns closely with the 7.8% position increase, suggesting the market has already validated the entry prices.

Saba Capital Management buys 3,900 shares of GF at $11.83; stock down 8.4% from 52-week high of $12.82

Saba Capital Management, a 10% owner, purchased 3,900 shares for $46,137.00 on 2026-05-21, increasing holdings from 3,126,889 to 3,130,789 shares. The current price of $11.74 is 8.4% below the 52-week high of $12.82 and within the 52-week range of $9.98–$12.82. This represents the insider's fifth consecutive buy at this ticker over a week-long window (2026-05-07 through 2026-05-21). Of the five same-ticker prior buys, 2 of 5 were well-timed at the 90-day mark, though the three most recent purchases (2026-05-12, 2026-05-13, 2026-05-14) posted modest 90-day returns of +0.1%, +0.2%, and -1.4% respectively. Cross-ticker, the insider's 12 prior buys averaged -0.8% 90-day returns with a 40.00% win rate, suggesting inconsistent execution in the broader portfolio.

Saba Capital Management buys 2,099 shares of GF (New Germany Fund) for $24,577.31 across 2 transactions at blended average $11.71

Saba Capital Management, as a 10% owner, executed 2 separate purchases totaling 2,099 shares for $24,577.31 on 2026-05-19 and 2026-05-20 at prices of $11.69 and $11.77, bringing holdings to 3,126,889 shares. The current price of $11.86 sits -7.5% from the 52-week high of $12.82, within the 52-week range of $9.98–$12.82. Across Saba's cross-ticker open-market history, the insider's 12 prior buys posted an average 90-day return of -0.8% with a 40.00% win rate, while at this same ticker (GF), prior trades show 2 of 5 prior buys were well-timed at the 90-day mark. The purchases represent a modest 0.1% increase to existing holdings, consistent with the pattern of ongoing accumulation observed in 5 prior trades at this ticker within the preceding days.

Saba Capital Management bought 22,308 shares of GF at $11.85 on 2026-05-18, raising stake to 3.12M shares; mixed recent timing at this ticker.

Saba Capital Management, a 10% owner of New Germany Fund Inc, purchased 22,308 shares at $11.85 on 2026-05-18, increasing its holdings from 3,102,482 to 3,124,790 shares. The current price is $11.85, down 7.6% from the 52-week high of $12.82. At this same ticker (GF), the insider's prior 3 buys show mixed outcomes: 1 of 3 were well-timed at the 90-day mark, with cumulative 90-day returns of -1.5%, +0.8%, and -3.5% respectively. Across all tickers, the insider's 8 prior open-market buys averaged +0.6% returns over 90 days with a 75% win rate, a stronger cross-ticker pattern. This incremental purchase within days of prior GF acquisitions (2026-05-07 and 2026-05-05) may reflect sustained interest, though the near-term price trajectory at this holding has been unfavorable relative to the insider's broader track record.

Saba Capital bought 14,082 shares of GF at $11.94; stock now at $11.85, -7.6% from 52-week high

Saba Capital Management added 14,082 shares (0.5% net increase to 3,102,482 shares) at $11.94 per share on 2026-05-14. The stock has declined 1.4% in the 30 days following the transaction and sits -7.6% from its 52-week high of $12.82, suggesting near-term headwinds. At the same ticker, Saba's prior three purchases (on 2026-05-07, 2026-05-05, and 2026-04-17) showed mixed outcomes: only 1 of 3 trades had positive 90-day returns, indicating a below-average success rate on recent GF acquisitions. While Saba's cross-ticker track record shows a 75% win rate on buys over 90 days, the ticker-specific pattern at GF is less encouraging and warrants attention to whether continued accumulation reflects conviction or reflects a reversal of the recent downward pressure.

Saba Capital Management acquires 14,995 GF shares; 4th-5th open-market purchase at this ticker in 36 months.

Saba Capital Management, a 10% beneficial owner of New Germany Fund, made two consecutive open-market purchases totaling nearly 15,000 shares on successive days in mid-May. The stock was trading modestly below its 52-week high at the time and has shown flat performance over the prior three-month period. This marks the fund's fourth and fifth open-market purchases at GF over the 36-month window; Saba's prior three buys at this ticker showed mixed timing, with one gaining modestly after purchase while two experienced declines. As a large institutional holder rather than an officer or director, this activity reflects portfolio management decisions at a closed-end fund, not insider operational conviction. The repetition of purchasing at similar price points despite prior mixed near-term outcomes suggests ongoing confidence in the valuation, though the modest transaction size relative to Saba's multi-million-share position indicates measured, not aggressive, accumulation.

10% institutional holder Saba Capital acquires additional shares in GF; extends consistent buying pattern with all prior same-ticker purchases showing gains.

L.P. Saba Capital Management, which holds a significant stake in New Germany Fund Inc, purchased additional shares in an open-market transaction, extending a recent buying pattern at this stock. Over the prior four trades at this ticker, all purchases yielded positive returns within both the 30-day and 90-day windows, indicating consistent success in timing its entries. The current purchase arrives while the stock trades well below its 52-week high, and Saba's buying activity at the company has accelerated — this transaction marks the fund's fourth purchase within a concentrated timeframe. As a 10% beneficial owner, Saba's investment decisions reflect portfolio management and capital deployment choices rather than insider knowledge of operations, but the pattern of repeat accumulation at lower prices after all prior buys have proved profitable is noteworthy. This trade adds to Saba's existing substantial position in GF.

10% owner Saba Capital Management purchases 4,812 shares of GF at $11.73; fund has consistent buy-side track record.

Saba Capital Management, a 10% beneficial owner of New Germany Fund, deployed capital to purchase shares at $11.73, a price that reflects a modest pullback from the stock's recent highs—context that matters for an institutional fund typically focused on value deployment. The fund's historical trading activity reveals a strong bias toward buying: 12 prior purchases versus 8 sales, and notably, its buy decisions have generated consistently positive returns within 90 days with a 100% win rate on those purchases. This current purchase, arriving just days after the fund's most recent prior trade, reinforces an existing pattern of capital commitment rather than portfolio trimming. However, because Saba Capital is an investment fund required to file due to ownership size—not an officer or director with operational insight—this trade reflects portfolio management decisions, not insider knowledge of company operations or near-term catalysts.