The New Germany Fund, Inc.
US ˙ NYSE ˙ US6444651060

SecurityGF / The New Germany Fund, Inc.
InstitutionArnhold LLC
Latest Disclosed Ownership32,997 shares
Latest Disclosed Value $ 337,229
Arnhold LLC reports 1.08% increase in ownership of GF / The New Germany Fund, Inc.

On May 11, 2026 - Arnhold LLC filed a 13F-HR form disclosing ownership of 32,997 shares of The New Germany Fund, Inc. (US:GF) valued at $337,229 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 9, 2026 disclosing 32,643 shares of The New Germany Fund, Inc.. This represents a change in shares of 1.08% during the quarter. The current value of the position is $398,604 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-11 2026-03-31 13F NEW GERMANY FD COM 644465106 32,997 354 1.08 337 -9.41 0.0248
2026-02-09 2025-12-31 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 373 -1.33 0.0283
2025-11-07 2025-09-30 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 377 -3.08 0.0316
2025-07-29 2025-06-30 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 390 21.56 0.0355
2025-05-14 2025-03-31 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 320 25.98 0.0323
2025-02-14 2024-12-31 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 255 -12.71 0.0251
2024-11-13 2024-09-30 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 292 9.81 0.0283
2024-08-01 2024-06-30 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 266 -6.69 0.0280
2024-05-07 2024-03-31 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 284 -0.35 0.0301
2024-02-05 2023-12-31 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 285 7.14 0.0319
2023-10-24 2023-09-30 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 267 -9.22 0.0318
2023-08-08 2023-06-30 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 293 -1.01 0.0332
2023-05-11 2023-03-31 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 297 15.18 0.0337
2023-02-07 2022-12-31 13F NEW GERMANY FD COM 644465106 32,643 0 0.00 258 13.22 0.0315
2022-10-27 2022-09-30 13F NEW GERMANY FD COM 644465106 32,643 2,491 8.26 227 -10.63 0.0305
2022-07-26 2022-06-30 13F NEW GERMANY FD COM 644465106 30,152 0 0.00 254 -26.38 0.0303
2022-05-10 2022-03-31 13F NEW GERMANY FD COM 644465106 30,152 8,219 37.47 345 6.15 0.0388
2022-02-08 2021-12-31 13F NEW GERMANY FD COM 644465106 21,933 0 0.00 325 -24.94 0.0368
2021-10-19 2021-09-30 13F NEW GERMANY FD COM 644465106 21,933 -1 -0.00 433 -2.48 0.0500
2021-08-04 2021-06-30 13F NEW GERMANY FD COM 644465106 21,934 960 4.58 444 6.99 0.0503
2021-04-30 2021-03-31 13F NEW GERMANY FD COM 644465106 20,974 2,033 10.73 415 15.28 0.0498
2021-02-08 2020-12-31 13F NEW GERMANY FD COM 644465106 18,941 0 0.00 360 12.50 0.0466
2020-11-13 2020-09-30 13F NEW GERMANY FD COM 644465106 18,941 422 2.28 320 13.88 0.0473
2020-08-03 2020-06-30 13F NEW GERMANY FD COM 644465106 18,519 0 0.00 281 30.70 0.0447
2020-04-17 2020-03-31 13F NEW GERMANY FD COM 644465106 18,519 238 1.30 215 -25.09 0.0396
2020-02-05 2019-12-31 13F NEW GERMANY FD COM 644465106 18,281 0 0.00 287 13.44 0.0453
2019-10-29 2019-09-30 13F NEW GERMANY FD COM 644465106 18,281 393 2.20 253 -0.39 0.0430
2019-08-08 2019-06-30 13F NEW GERMANY FD COM 644465106 17,888 0 0.00 254 1.60 0.0446
2019-05-09 2019-03-31 13F NEW GERMANY FD COM 644465106 17,888 3,190 21.70 250 45.35 0.0450
2019-02-08 2018-12-31 13F NEW GERMANY FD COM 644465106 14,698 0 0.00 172 -35.82 0.0320
2018-11-06 2018-09-30 13F NEW GERMANY FD COM 644465106 14,698 0 0.00 268 0.00 0.0461
2018-10-09 2018-06-30 13F/A-1 NEW GERMANY FD COM 644465106 14,698 552 3.90 268 -2.90 0.0472
2018-08-14 2018-06-30 13F NEW GERMANY FD COM 644465106 14,698 552 268
2018-05-11 2018-03-31 13F NEW GERMANY FD COM 644465106 14,146 14,146 276 0.0521
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.