# EDGAR Filing Document

**Accession Number:** 0000858706
**File Stem:** 0001003715-26-000516
**Filing Date:** 2026-2
**Character Count:** 21183
**Document Hash:** c7d37c45f0dad14682cd30e757f8f187
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001003715-26-000516.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001003715-26-000516

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEW GERMANY FUND INC
- **CENTRAL INDEX KEY:** 0000858706

**ORGANIZATION NAME:**
- **EIN:** 133555471
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05983
- **FILM NUMBER:** 26684875

**BUSINESS ADDRESS:**
- **STREET 1:** 875 THIRD AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022-6225
- **BUSINESS PHONE:** 212-454-4500

**MAIL ADDRESS:**
- **STREET 1:** 875 THIRD AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022-6225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LENOX FUND INC
- **DATE OF NAME CHANGE:** 19900115

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** The New Germany Fund, Inc.

- **b. Investment Company Act file number:** 811-05983

- **c. CIK number of Registrant:** 0000858706

- **d. LEI of Registrant:** 549300TPS2RTTJ8O3C08

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 875 Third Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10022-6225

  - **Telephone number:** 212-454-4500

**Item A.2. Information about the Series.**

- **a. Name of Series:** The New Germany Fund, Inc.

- **c. LEI of Series:** 549300TPS2RTTJ8O3C08

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $235144270.60

**Total Liabilities:** $29625011.59

**Net Assets:** $205519259.01

**Cash Not Reported:** $20729.32

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -2.51%               | -3.73%               | 6.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2622406.39              | $-15973418.29                              |
| Month 2  | $-2733497.64             | $3251716.66                                |
| Month 3  | $-3077356.61             | $10236821.11                               |

### Schedule of Portfolio Investments

| Name                           | Title                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UNITED INTERNET AG-REG S /EUR/ | UNITED INTERNET AG-REG SHARE /EUR/ 0.00000000          | CUSIP: D8542B125<br>LEI: 3VEKWPJHTD4NKMBVG947 | Long             | EC               | CORP              | DE        |     82542 | NS      | $2682996.67   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| FIELMANN GROUP AG /EUR/        | FIELMANN GROUP AG /EUR/ 0.00000000                     | CUSIP: D2617N114<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     80471 | NS      | $4115348.50   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTZ AG /EUR/                 | DEUTZ AG /EUR/ 0.00000000                              | CUSIP: D39176108<br>LEI: 5299005DETTV58V2PP63 | Long             | EC               | CORP              | DE        |    410790 | NS      | $4100320.92   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                            | DWS CENTRAL CASH MANAGEMENT GOVERNMENT FUND 0.00000000 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   2673408 | NS      | $2673407.22   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| PUMA SE /EUR/                  | PUMA SE /EUR/ 0.00000000                               | CUSIP: D62318148<br>LEI: 529900GRZ2BQY5ZM9N49 | Long             | EC               | CORP              | DE        |    129399 | NS      | $3388557.38   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| VOSSLOH AG /EUR/               | VOSSLOH AG /EUR/ 0.00000000                            | CUSIP: D9494V101<br>LEI: 5299003HAEOUVX3HWX43 | Long             | EC               | CORP              | DE        |     41963 | NS      | $3764774.33   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| HOCHTIEF AG /EUR/              | HOCHTIEF AG /EUR/ 0.00000000                           | CUSIP: D33134103<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     19597 | NS      | $7755299.14   | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| BILFINGER SE /EUR/             | BILFINGER SE /EUR/ 0.00000000                          | CUSIP: D11648108<br>LEI: 529900H0HULEN2BZ4604 | Long             | EC               | CORP              | DE        |     77012 | NS      | $9712739.58   | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE LUFTHANSA-REG /EUR/   | DEUTSCHE LUFTHANSA-REG /EUR/ 0.00000000                | CUSIP: D1908N106<br>LEI: 529900PH63HYJ86ASW55 | Long             | EC               | CORP              | DE        |    952012 | NS      | $9397468.29   | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| SALZGITTER AG /EUR/            | SALZGITTER AG /EUR/ 0.00000000                         | CUSIP: D80900109<br>LEI: 529900E12Z6HXIMHFA15 | Long             | EC               | CORP              | DE        |     56409 | NS      | $2658917.30   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| AIXTRON SE /EUR/ /PERPETUAL/   | AIXTRON SE /EUR/ /PERPETUAL/ 0.00000000                | CUSIP: D0257Y135<br>LEI: 5299004UJ4D51M25LD67 | Long             | EC               | CORP              | DE        |     86732 | NS      | $1762503.65   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| AURUBIS AG /EUR/               | AURUBIS AG /EUR/ 0.00000000                            | CUSIP: D10004105<br>LEI: 5299005SHIN9ZK7GW242 | Long             | EC               | CORP              | DE        |     14287 | NS      | $2083731.23   | 1.01%             |  |  |  | No            |                  1 | On Loan: —       |
| KRONES AG /EUR/                | KRONES AG /EUR/ 0.00000000                             | CUSIP: D47441171<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     28959 | NS      | $4618089.99   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NEMETSCHEK SE  /EUR/           | NEMETSCHEK SE /EUR/ 0.00000000                         | CUSIP: D56134105<br>LEI: 529900R0S2IX1S358J38 | Long             | EC               | CORP              | DE        |     67949 | NS      | $7404744.99   | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| THYSSENKRUPP AG /EUR/          | THYSSENKRUPP AG /EUR/ 0.00000000                       | CUSIP: D8398Q119<br>LEI: 549300UDG16DOYUPR330 | Long             | EC               | CORP              | DE        |    571468 | NS      | $6223548.36   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ECKERT & ZIEGLER SE /EUR/      | ECKERT & ZIEGLER SE /EUR/ 0.00000000                   | CUSIP: D2371P107<br>LEI: 391200EUDABLUKXCKG48 | Long             | EC               | CORP              | DE        |     87749 | NS      | $1572446.11   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ELMOS SEMICONDUCTOR SE /EUR/   | ELMOS SEMICONDUCTOR SE /EUR/ 0.00000000                | CUSIP: D2462G107<br>LEI: 529900UMKKDCAP4P4H63 | Long             | EC               | CORP              | DE        |     31387 | NS      | $3575202.15   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| TAG IMMOBILIEN AG /EUR/        | TAG IMMOBILIEN AG /EUR/ 0.00000000                     | CUSIP: D8283Q174<br>LEI: 529900TAE68USJNXLR59 | Long             | EC               | CORP              | DE        |    290640 | NS      | $4515379.84   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CEWE STIFTUNG & CO KGAA /EUR/  | CEWE STIFTUNG & CO KGAA /EUR/ 0.00000000               | CUSIP: D1499B107<br>LEI: 529900IDFHN9MQ3WUD64 | Long             | EC               | CORP              | DE        |      8622 | NS      | $1050955.76   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SARTORIUS AG-VORZUG /EUR/      | SARTORIUS AG-VORZUG /EUR/ 0.00000000                   | CUSIP: D6705R119<br>LEI: 529900EQV2DY4FOAMU38 | Long             | EC               | CORP              | DE        |     25366 | NS      | $7363419.03   | 3.58%             |  |  |  | No            |                  1 | On Loan: —       |
| CTS EVENTIM AG & CO KGAA /EUR/ | CTS EVENTIM AG & CO KGAA /EUR/ 0.00000000              | CUSIP: D1648T108<br>LEI: 529900FDHSN08UBJII80 | Long             | EC               | CORP              | DE        |     47824 | NS      | $4408538.27   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| INFINEON TECHNOLOGIES AG /EUR/ | INFINEON TECHNOLOGIES AG /EUR/ 0.00000000              | CUSIP: D35415104<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |     69170 | NS      | $3064669.47   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| RATIONAL AG /EUR/              | RATIONAL AG /EUR/ 0.00000000                           | CUSIP: D6349P107<br>LEI: 529900K139N6UFJ1A758 | Long             | EC               | CORP              | DE        |      5566 | NS      | $4323665.74   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CARL ZEISS MEDITEC AG -  /EUR/ | CARL ZEISS MEDITEC AG - BR /EUR/ 0.00000000            | CUSIP: D14895102<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     79422 | NS      | $3730610.18   | 1.82%             |  |  |  | No            |                  1 | On Loan: —       |
| ATOSS SOFTWARE SE /EUR/        | ATOSS SOFTWARE SE /EUR/ 0.00000000                     | CUSIP: D0426N101<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     14287 | NS      | $1936091.66   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| BECHTLE AG /EUR/               | BECHTLE AG /EUR/ 0.00000000                            | CUSIP: D0873U103<br>LEI: 529900HA2QT774RUXW59 | Long             | EC               | CORP              | DE        |     97650 | NS      | $5008802.85   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| NORDEX SE /EUR/                | NORDEX SE /EUR/ 0.00000000                             | CUSIP: D5736K135<br>LEI: 529900HVDYCUWVD0OE76 | Long             | EC               | CORP              | DE        |     65663 | NS      | $2245386.73   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| RTL GROUP /EUR/                | RTL GROUP /EUR/ 0.00000000                             | CUSIP: L80326108<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |     28587 | NS      | $1156476.65   | 0.56%             |  |  |  | No            |                  1 | On Loan: —       |
| FREENET AG /EUR/               | FREENET AG /EUR/ 0.00000000                            | CUSIP: D3689Q134<br>LEI: 5299003GLDODCVP8DO20 | Long             | EC               | CORP              | DE        |    198001 | NS      | $6821918.93   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| HYPOPORT SE /EUR/              | HYPOPORT SE /EUR/ 0.00000000                           | CUSIP: D3149E101<br>LEI: 391200GNIFXXP6KRYQ46 | Long             | EC               | CORP              | DE        |      9761 | NS      | $1471764.75   | 0.72%             |  |  |  | No            |                  1 | On Loan: —       |
| STROEER MEDIA AG /EUR/_        | STROEER MEDIA AG /EUR/_ 0.00000000                     | CUSIP: D8169G100<br>LEI: 529900MBF3N1ATE55378 | Long             | EC               | CORP              | DE        |     38785 | NS      | $1685173.34   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| SUSS MICROTEC SE /EUR/         | SUSS MICROTEC SE /EUR/ 0.00000000                      | CUSIP: D82791167<br>LEI: 529900C3KRUTSYDK7N87 | Long             | EC               | CORP              | DE        |     34894 | NS      | $1603801.59   | 0.78%             |  |  |  | No            |                  1 | On Loan: —       |
| TALANX AG /EUR/                | TALANX AG /EUR/ 0.00000000                             | CUSIP: D82827110<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     32416 | NS      | $4331923.18   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KION GROUP AG /EUR/            | KION GROUP AG /EUR/ 0.00000000                         | CUSIP: D4S14D103<br>LEI: 5299005KY91C4C6U9H17 | Long             | EC               | CORP              | DE        |     96268 | NS      | $7715492.72   | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| KNORR-BREMSE AG /EUR/          | KNORR-BREMSE AG /EUR/ 0.00000000                       | CUSIP: D4S43E114<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     32427 | NS      | $3623219.33   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| JOST WERKE SE /EUR/            | JOST WERKE SE /EUR/ 144A 0.00000000                    | CUSIP: D3S57J100<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     23021 | NS      | $1462515.61   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| JENOPTIK AG /EUR/              | JENOPTIK AG /EUR/ 0.00000000                           | CUSIP: D3S19K104<br>LEI: 529900P34GDHGXK6VB37 | Long             | EC               | CORP              | DE        |    111829 | NS      | $2569947.95   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DR ING HC F PORSCH /EUR/ /PFD/ | DR ING HC F PORSCHE AG /EUR/  /PREFFERED/ 0.00000000   | CUSIP: D2R3HA114<br>LEI: N/A                  | Long             | EP               | CORP              | DE        |     91393 | NS      | $4896066.13   | 2.38%             |  |  |  | No            |                  1 | On Loan: —       |
| ALZCHEM GROUP AG /EUR/         | ALZCHEM GROUP AG /EUR/ 0.00000000                      | CUSIP: D0R02K100<br>LEI: 8945004EL7WZK3ERG181 | Long             | EC               | CORP              | DE        |      9356 | NS      | $1702946.37   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTO1 GROUP SE /EUR/           | AUTO1 GROUP SE /EUR/ 144A 0.00000000                   | CUSIP: D0R06D102<br>LEI: 391200S2LPXG5ZD5G304 | Long             | EC               | CORP              | DE        |    133689 | NS      | $4285854.10   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| RENK GROUP AG /EUR/            | RENK GROUP AG /EUR/ 0.00000000                         | CUSIP: D6S2UZ108<br>LEI: 894500H8CNSZ53EI6K63 | Long             | EC               | CORP              | DE        |     97441 | NS      | $6135466.69   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| SIEMENS ENERGY AG /EUR/        | SIEMENS ENERGY AG /EUR/ 0.00000000                     | CUSIP: D6T47E106<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |     44571 | NS      | $6301702.93   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| HENSOLDT AG /EUR/              | HENSOLDT AG /EUR/ 0.00000000                           | CUSIP: D3R14P109<br>LEI: 894500686FYLLZD3M624 | Long             | EC               | CORP              | DE        |     43397 | NS      | $3740544.53   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| TUI AG /EUR/                   | TUI AG /EUR/ 0.00000000                                | CUSIP: D8484K455<br>LEI: 529900SL2WSPV293B552 | Long             | EC               | CORP              | DE        |    764677 | NS      | $8067274.45   | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| FUCHS SE /EUR/                 | FUCHS SE /EUR/ 0.00000000                              | CUSIP: D27462379<br>LEI: 529900SNF9E1P5ZO4P98 | Long             | EC               | CORP              | DE        |     87063 | NS      | $3899360.41   | 1.90%             |  |  |  | No            |                  1 | On Loan: —       |
| TKMS AG& CO KGAA /EUR/         | TKMS AG& CO KGAA /EUR/ 0.00000000                      | CUSIP: D8T5DP107<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     19733 | NS      | $1531699.73   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEC SE /EUR/               | STRATEC SE /EUR/ 0.00000000                            | CUSIP: D8T6E3103<br>LEI: 529900ZZJWANAFSPGV30 | Long             | EC               | CORP              | DE        |     30925 | NS      | $815276.86    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| FLATEXDEGIRO SE /EUR/          | FLATEXDEGIRO SE /EUR/ 0.00000000                       | CUSIP: D3690M106<br>LEI: 529900IRBZTADXJB6757 | Long             | EC               | CORP              | DE        |    111979 | NS      | $4831197.56   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SILTRONIC AG /EUR/             | SILTRONIC AG /EUR/ 0.00000000                          | CUSIP: D6948S114<br>LEI: 5299003NKV26NNGHHR90 | Long             | EC               | CORP              | DE        |     51313 | NS      | $2946560.25   | 1.43%             |  |  |  | No            |                  1 | On Loan: —       |
| REDCARE PHARMACY NV /EUR/      | REDCARE PHARMACY NV /EUR/ 144A 0.00000000              | CUSIP: N7975Z103<br>LEI: 529900JK6UXHY1YKZ082 | Long             | EC               | CORP              | NL        |     23241 | NS      | $1776703.10   | 0.86%             |  |  |  | No            |                  1 | On Loan: —       |
| DELIVERY HERO SE /EUR/         | DELIVERY HERO SE /EUR/ 0.00000000                      | CUSIP: D1T0KZ103<br>LEI: 529900C3EX1FZGE48X78 | Long             | EC               | CORP              | DE        |    217393 | NS      | $5800066.11   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| JUNGHEINRICH - PRFD /EUR/      | JUNGHEINRICH - PRFD /EUR/ 0.00000000                   | CUSIP: D37552102<br>LEI: 529900PHZORTU6FSXE73 | Long             | EC               | CORP              | DE        |     62516 | NS      | $2600272.12   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                            | DWS Gov and Agency Sec Portfolio DWS Gov Cash Inst Shs | CUSIP: 147539670<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  27100743 | NS      | $27100742.80  | 13.19%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** The New Germany Fund, Inc.

**Signature:** Diane Kenneally

**Name of Signer:** Diane Kenneally

**Title:** Treasurer and Chief Financial Officer