# EDGAR Filing Document

**Accession Number:** 0000858706
**File Stem:** 0001003715-25-001244
**Filing Date:** 2025-11
**Character Count:** 19519
**Document Hash:** 943520e6ab0defdfba6d05f90ae4a6d7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001003715-25-001244.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001003715-25-001244

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**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:** 251507686

**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:** 2025-09-30

**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:** $228056155.78

**Total Liabilities:** $17355588.35

**Net Assets:** $210700567.43

**Cash Not Reported:** $20958.39

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -1.51%               | -0.77%               | -0.94%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1025272.98              | $-5652445.02                               |
| Month 2  | $2217918.01              | $-5932282.14                               |
| Month 3  | $9022802.23              | $-6699189.46                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HORNBACH HOLDING AG & CO /EUR/ | HORNBACH HOLDING AG & CO KGA /EUR/ 0.00000000          | CUSIP: D33875119<br>LEI: 529900EGQZ79V21LBL44 | Long             | EC               | CORP              | DE        |      8876 | NS      | $1021984.42   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| DELIVERY HERO SE /EUR/         | DELIVERY HERO SE /EUR/ 0.00000000                      | CUSIP: D1T0KZ103<br>LEI: 529900C3EX1FZGE48X78 | Long             | EC               | CORP              | DE        |    188540 | NS      | $5407196.92   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| PUMA SE /EUR/                  | PUMA SE /EUR/ 0.00000000                               | CUSIP: D62318148<br>LEI: 529900GRZ2BQY5ZM9N49 | Long             | EC               | CORP              | DE        |    129399 | NS      | $3216973.53   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| HEIDELBERGER DRUCKMASCHI /EUR/ | HEIDELBERGER DRUCKMASCHINEN /EUR/ 0.00000000           | CUSIP: D3166C103<br>LEI: 529900ZM98OISTG16932 | Long             | EC               | CORP              | DE        |    158150 | NS      | $416215.37    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHOTT PHARMA AG& CO KGA /EUR/ | SCHOTT PHARMA AG& CO KGAA /EUR/ 0.00000000             | CUSIP: D6T79R108<br>LEI: 529900TU48UE99NHEY88 | Long             | EC               | CORP              | DE        |     39025 | NS      | $967444.97    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| AMADEUS FIRE AG /EUR/          | AMADEUS FIRE AG /EUR/ 0.00000000                       | CUSIP: D0349N105<br>LEI: 391200TJJ820ZDHNFJ33 | Long             | EC               | CORP              | DE        |     15006 | NS      | $881527.47    | 0.42%             |  |  |  | No            |                  1 | On Loan: —       |
| STRATEC SE /EUR/               | STRATEC SE /EUR/ 0.00000000                            | CUSIP: D8T6E3103<br>LEI: 529900ZZJWANAFSPGV30 | Long             | EC               | CORP              | DE        |     20000 | NS      | $673217.70    | 0.32%             |  |  |  | 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        |     40462 | NS      | $1962401.82   | 0.93%             |  |  |  | No            |                  1 | On Loan: —       |
| ATOSS SOFTWARE SE /EUR/        | ATOSS SOFTWARE SE /EUR/ 0.00000000                     | CUSIP: D0426N101<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     11000 | NS      | $1421629.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| ECKERT & ZIEGLER SE /EUR/      | ECKERT & ZIEGLER SE /EUR/ 0.00000000                   | CUSIP: D2371P107<br>LEI: 391200EUDABLUKXCKG48 | Long             | EC               | CORP              | DE        |     51349 | NS      | $1075079.53   | 0.51%             |  |  |  | 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      | $10029893.38  | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| RATIONAL AG /EUR/              | RATIONAL AG /EUR/ 0.00000000                           | CUSIP: D6349P107<br>LEI: 529900K139N6UFJ1A758 | Long             | EC               | CORP              | DE        |      5349 | NS      | $4078666.52   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS EVENTIM AG & CO KGAA /EUR/ | CTS EVENTIM AG & CO KGAA /EUR/ 0.00000000              | CUSIP: D1648T108<br>LEI: 529900FDHSN08UBJII80 | Long             | EC               | CORP              | DE        |     42773 | NS      | $4191183.41   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| HOCHTIEF AG /EUR/              | HOCHTIEF AG /EUR/ 0.00000000                           | CUSIP: D33134103<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     18065 | NS      | $4834956.70   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SIEMENS ENERGY AG /EUR/        | SIEMENS ENERGY AG /EUR/ 0.00000000                     | CUSIP: D6T47E106<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |     46504 | NS      | $5432065.18   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| NEMETSCHEK SE  /EUR/           | NEMETSCHEK SE /EUR/ 0.00000000                         | CUSIP: D56134105<br>LEI: 529900R0S2IX1S358J38 | Long             | EC               | CORP              | DE        |     72332 | NS      | $9416101.64   | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| TAG IMMOBILIEN AG /EUR/        | TAG IMMOBILIEN AG /EUR/ 0.00000000                     | CUSIP: D8283Q174<br>LEI: 529900TAE68USJNXLR59 | Long             | EC               | CORP              | DE        |    237448 | NS      | $4100971.53   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| FUCHS SE /EUR/                 | FUCHS SE /EUR/ 0.00000000                              | CUSIP: D27462379<br>LEI: 529900SNF9E1P5ZO4P98 | Long             | EC               | CORP              | DE        |     87063 | NS      | $3895215.34   | 1.85%             |  |  |  | No            |                  1 | On Loan: —       |
| FREENET AG /EUR/               | FREENET AG /EUR/ 0.00000000                            | CUSIP: D3689Q134<br>LEI: 5299003GLDODCVP8DO20 | Long             | EC               | CORP              | DE        |    191214 | NS      | $6115172.48   | 2.90%             |  |  |  | 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        |     11533 | NS      | $1353657.16   | 0.64%             |  |  |  | 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      | $4555064.98   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PATRIZIA SE /EUR/              | PATRIZIA SE /EUR/ 0.00000000                           | CUSIP: D5988D110<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     76319 | NS      | $643810.45    | 0.31%             |  |  |  | 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        |     79768 | NS      | $3951210.88   | 1.88%             |  |  |  | No            |                  1 | On Loan: —       |
| FIELMANN GROUP AG /EUR/        | FIELMANN GROUP AG /EUR/ 0.00000000                     | CUSIP: D2617N114<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     80673 | NS      | $4871831.18   | 2.31%             |  |  |  | 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        |     54110 | NS      | $5076371.04   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| REDCARE PHARMACY NV /EUR/      | REDCARE PHARMACY NV /EUR/ 144A 0.00000000              | CUSIP: N7975Z103<br>LEI: 529900JK6UXHY1YKZ082 | Long             | EC               | CORP              | NL        |     15463 | NS      | $1338034.81   | 0.64%             |  |  |  | No            |                  1 | On Loan: —       |
| ELMOS SEMICONDUCTOR SE /EUR/   | ELMOS SEMICONDUCTOR SE /EUR/ 0.00000000                | CUSIP: D2462G107<br>LEI: 529900UMKKDCAP4P4H63 | Long             | EC               | CORP              | DE        |     21459 | NS      | $2064877.47   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| KRONES AG /EUR/                | KRONES AG /EUR/ 0.00000000                             | CUSIP: D47441171<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     28959 | NS      | $4218967.21   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| HENSOLDT AG /EUR/              | HENSOLDT AG /EUR/ 0.00000000                           | CUSIP: D3R14P109<br>LEI: 894500686FYLLZD3M624 | Long             | EC               | CORP              | DE        |     76237 | NS      | $9879664.90   | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |
| TUI AG /EUR/                   | TUI AG /EUR/ 0.00000000                                | CUSIP: D8484K455<br>LEI: 529900SL2WSPV293B552 | Long             | EC               | CORP              | DE        |    699377 | NS      | $6361586.20   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED INTERNET AG-REG S /EUR/ | UNITED INTERNET AG-REG SHARE /EUR/ 0.00000000          | CUSIP: D8542B125<br>LEI: 3VEKWPJHTD4NKMBVG947 | Long             | EC               | CORP              | DE        |     90960 | NS      | $2870498.76   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| THYSSENKRUPP AG /EUR/          | THYSSENKRUPP AG /EUR/ 0.00000000                       | CUSIP: D8398Q119<br>LEI: 549300UDG16DOYUPR330 | Long             | EC               | CORP              | DE        |    525678 | NS      | $7210702.78   | 3.42%             |  |  |  | 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      | $6497897.95   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FLATEXDEGIRO AG /EUR/          | FLATEXDEGIRO AG /EUR/ 0.00000000                       | CUSIP: D3690M106<br>LEI: 529900IRBZTADXJB6757 | Long             | EC               | CORP              | DE        |     94365 | NS      | $3091039.95   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| VOSSLOH AG /EUR/               | VOSSLOH AG /EUR/ 0.00000000                            | CUSIP: D9494V101<br>LEI: 5299003HAEOUVX3HWX43 | Long             | EC               | CORP              | DE        |     45000 | NS      | $4784780.25   | 2.27%             |  |  |  | No            |                  1 | On Loan: —       |
| AIRBUS SE /EUR/                | AIRBUS SE /EUR/ 0.00000000                             | CUSIP: N0280G100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | FR        |     23484 | NS      | $5445429.15   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| BILFINGER SE /EUR/             | BILFINGER SE /EUR/ 0.00000000                          | CUSIP: D11648108<br>LEI: 529900H0HULEN2BZ4604 | Long             | EC               | CORP              | DE        |     75000 | NS      | $8256609.75   | 3.92%             |  |  |  | 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        |     26656 | NS      | $1554945.37   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| TALANX AG /EUR/                | TALANX AG /EUR/ 0.00000000                             | CUSIP: D82827110<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     55825 | NS      | $7424651.31   | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| RTL GROUP /EUR/                | RTL GROUP /EUR/ 0.00000000                             | CUSIP: L80326108<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |     35564 | NS      | $1460355.82   | 0.69%             |  |  |  | No            |                  1 | On Loan: —       |
| BECHTLE AG /EUR/               | BECHTLE AG /EUR/ 0.00000000                            | CUSIP: D0873U103<br>LEI: 529900HA2QT774RUXW59 | Long             | EC               | CORP              | DE        |     93561 | NS      | $4313449.89   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JUNGHEINRICH - PRFD /EUR/      | JUNGHEINRICH - PRFD /EUR/ 0.00000000                   | CUSIP: D37552102<br>LEI: 529900PHZORTU6FSXE73 | Long             | EC               | CORP              | DE        |     59002 | NS      | $2049142.06   | 0.97%             |  |  |  | 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        |  14569276 | NS      | $14569276.15  | 6.91%             |  |  |  | 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        |  28529385 | NS      | $28529384.75  | 13.54%            |  |  |  | No            |                  1 | On Loan: No      |
| ALZCHEM GROUP AG /EUR/         | ALZCHEM GROUP AG /EUR/ 0.00000000                      | CUSIP: D0R02K100<br>LEI: 8945004EL7WZK3ERG181 | Long             | EC               | CORP              | DE        |     16000 | NS      | $2823519.68   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| IONOS GROUP SE /EUR/           | IONOS GROUP SE /EUR/ 0.00000000                        | CUSIP: D3R77H101<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |     88055 | NS      | $4112368.83   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTZ AG /EUR/                 | DEUTZ AG /EUR/ 0.00000000                              | CUSIP: D39176108<br>LEI: 5299005DETTV58V2PP63 | Long             | EC               | CORP              | DE        |    376494 | NS      | $3965603.21   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| SILTRONIC AG /EUR/             | SILTRONIC AG /EUR/ 0.00000000                          | CUSIP: D6948S114<br>LEI: 5299003NKV26NNGHHR90 | Long             | EC               | CORP              | DE        |     32636 | NS      | $1786832.10   | 0.85%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2025-10-30

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

**Signature:** Diane Kenneally

**Name of Signer:** Diane Kenneally

**Title:** Treasurer and Chief Financial Officer