<SEC-DOCUMENT>0001752724-23-188150.txt : 20230824
<SEC-HEADER>0001752724-23-188150.hdr.sgml : 20230824
<ACCEPTANCE-DATETIME>20230824104916
ACCESSION NUMBER:		0001752724-23-188150
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230630
FILED AS OF DATE:		20230824
DATE AS OF CHANGE:		20230824
PERIOD START:           	20231231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEW GERMANY FUND INC
		CENTRAL INDEX KEY:			0000858706
		IRS NUMBER:				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:		231199879

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <repPdEnd>2023-12-31</repPdEnd>
      <repPdDate>2023-06-30</repPdDate>
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      <invstOrSec>
        <name>K+S AG-REG /EUR/</name>
        <lei>529900YURAYD4IJX2J91</lei>
        <title>K+S AG-REG /EUR/ 0.00000000</title>
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      <invstOrSec>
        <name>AMADEUS FIRE AG /EUR/</name>
        <lei>391200TJJ820ZDHNFJ33</lei>
        <title>AMADEUS FIRE AG /EUR/ 0.00000000</title>
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          <isin value="DE0005093108"/>
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      <invstOrSec>
        <name>NORDEX SE /EUR/</name>
        <lei>529900HVDYCUWVD0OE76</lei>
        <title>NORDEX SE /EUR/ 0.00000000</title>
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          <isin value="DE000A0D6554"/>
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      <invstOrSec>
        <name>DERMAPHARM HOLDING SE /EUR/</name>
        <lei>N/A</lei>
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        <cusip>D1T0ZJ103</cusip>
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          <isin value="DE000A2GS5D8"/>
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      <invstOrSec>
        <name>STRATEC SE /EUR/</name>
        <lei>529900ZZJWANAFSPGV30</lei>
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      <invstOrSec>
        <name>AIXTRON SE /EUR/ /PERPETUAL/</name>
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        <title>AIXTRON SE /EUR/ /PERPETUAL/ 0.00000000</title>
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          <isin value="DE000A0WMPJ6"/>
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      <invstOrSec>
        <name>PROSIEBENSAT.1 MEDIA SE /EUR/</name>
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          <isin value="DE000PSM7770"/>
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      <invstOrSec>
        <name>GEA GROUP AG /EUR/</name>
        <lei>549300PHUU0ZZWO8EO07</lei>
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        <name>VERBIO VEREINIGTE BIOENE /EUR/</name>
        <lei>529900W51PINCFFALS96</lei>
        <title>VERBIO VEREINIGTE BIOENERGI /EUR/ 0.00000000</title>
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      <invstOrSec>
        <name>TEAMVIEWER SE /EUR/</name>
        <lei>3912000FZ0R0KEK9JS42</lei>
        <title>TEAMVIEWER SE /EUR/ 0.00000000</title>
        <cusip>D8T895100</cusip>
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      <invstOrSec>
        <name>DEUTSCHE PFANDBRIEFBANK  /EUR/</name>
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        <name>CTS EVENTIM AG &amp; CO KGAA /EUR/</name>
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        <title>CTS EVENTIM AG &amp; CO KGAA /EUR/ 0.00000000</title>
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        <name>SAF-HOLLAND SE /EUR/</name>
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        <name>LEG IMMOBILIEN SE /EUR/</name>
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        <name>DUERR AG /EUR/</name>
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      <invstOrSec>
        <name>FUCHS PETROLUB SE-PREF /EUR/</name>
        <lei>529900SNF9E1P5ZO4P98</lei>
        <title>FUCHS PETROLUB SE-PREF /EUR/ 0.00000000</title>
        <cusip>D27462379</cusip>
        <identifiers>
          <isin value="DE000A3E5D64"/>
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        <balance>121752.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>4810713.48000000</valUSD>
        <pctVal>2.661059964205</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WACKER CHEMIE AG /EUR/</name>
        <lei>N/A</lei>
        <title>WACKER CHEMIE AG /EUR/ 0.00000000</title>
        <cusip>D9540Z106</cusip>
        <identifiers>
          <isin value="DE000WCH8881"/>
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        <balance>20170.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>2766934.21000000</valUSD>
        <pctVal>1.530537597059</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREENET AG /EUR/</name>
        <lei>5299003GLDODCVP8DO20</lei>
        <title>FREENET AG /EUR/ 0.00000000</title>
        <cusip>D3689Q134</cusip>
        <identifiers>
          <isin value="DE000A0Z2ZZ5"/>
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        <balance>110968.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>2781843.70000000</valUSD>
        <pctVal>1.538784824230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COVESTRO AG /EUR/</name>
        <lei>3912005AWHKLQ1CPLV11</lei>
        <title>COVESTRO AG /EUR/ 144A 0.00000000</title>
        <cusip>D15349109</cusip>
        <identifiers>
          <isin value="DE0006062144"/>
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        <balance>42750.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
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        <pctVal>1.227412856033</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BEFESA SA /EUR/</name>
        <lei>222100VXGA8L6J4ZWG61</lei>
        <title>BEFESA SA /EUR/ 144A 0.00000000</title>
        <cusip>L0R30V103</cusip>
        <identifiers>
          <isin value="LU1704650164"/>
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        <balance>62869.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>2400432.72000000</valUSD>
        <pctVal>1.327806246311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PATRIZIA SE /EUR/</name>
        <lei>N/A</lei>
        <title>PATRIZIA SE /EUR/ 0.00000000</title>
        <cusip>D5988D110</cusip>
        <identifiers>
          <isin value="DE000PAT1AG3"/>
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        <balance>34224.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>406951.08000000</valUSD>
        <pctVal>0.225106157512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARL ZEISS MEDITEC AG -  /EUR/</name>
        <lei>N/A</lei>
        <title>CARL ZEISS MEDITEC AG - BR /EUR/ 0.00000000</title>
        <cusip>D14895102</cusip>
        <identifiers>
          <isin value="DE0005313704"/>
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        <balance>41000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>4429752.18000000</valUSD>
        <pctVal>2.450330128068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIELMANN AG /EUR/</name>
        <lei>N/A</lei>
        <title>FIELMANN AG /EUR/ 0.00000000</title>
        <cusip>D2617N114</cusip>
        <identifiers>
          <isin value="DE0005772206"/>
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        <balance>16489.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>877807.08000000</valUSD>
        <pctVal>0.485561504877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUSE SA /EUR/</name>
        <lei>N/A</lei>
        <title>SUSE SA /EUR/ 0.00000000</title>
        <cusip>L62573107</cusip>
        <identifiers>
          <isin value="LU2333210958"/>
        </identifiers>
        <balance>50148.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>706260.31000000</valUSD>
        <pctVal>0.390669916855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHERRY SE /EUR/</name>
        <lei>984500DF98AA2E011444</lei>
        <title>CHERRY SE /EUR/ 0.00000000</title>
        <cusip>D1T3GZ102</cusip>
        <identifiers>
          <isin value="DE000A3CRRN9"/>
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        <balance>94182.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>397615.97000000</valUSD>
        <pctVal>0.219942414632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KNORR-BREMSE AG /EUR/</name>
        <lei>N/A</lei>
        <title>KNORR-BREMSE AG /EUR/ 0.00000000</title>
        <cusip>D4S43E114</cusip>
        <identifiers>
          <isin value="DE000KBX1006"/>
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        <balance>74000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>5649247.47000000</valUSD>
        <pctVal>3.124897446668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REDCARE PHARMACY NV /EUR/</name>
        <lei>529900JK6UXHY1YKZ082</lei>
        <title>REDCARE PHARMACY NV /EUR/ 144A 0.00000000</title>
        <cusip>N7975Z103</cusip>
        <identifiers>
          <isin value="NL0012044747"/>
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        <balance>28567.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
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        <pctVal>1.634881544282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KWS SAAT SE AND CO KGAA /EUR/</name>
        <lei>529900FR2K4P9L9XLV21</lei>
        <title>KWS SAAT SE AND CO KGAA /EUR/ 0.00000000</title>
        <cusip>D39062100</cusip>
        <identifiers>
          <isin value="DE0007074007"/>
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        <balance>21000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
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        <pctVal>0.713440567939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORPHOSYS AG /EUR/</name>
        <lei>529900493806K77LRE72</lei>
        <title>MORPHOSYS AG /EUR/ 0.00000000</title>
        <cusip>D55040105</cusip>
        <identifiers>
          <isin value="DE0006632003"/>
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        <balance>20084.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>596599.38000000</valUSD>
        <pctVal>0.330010658790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JENOPTIK AG /EUR/</name>
        <lei>529900P34GDHGXK6VB37</lei>
        <title>JENOPTIK AG /EUR/ 0.00000000</title>
        <cusip>D3S19K104</cusip>
        <identifiers>
          <isin value="DE000A2NB601"/>
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        <balance>75000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>2572342.20000000</valUSD>
        <pctVal>1.422898468410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRENKE AG /EUR/</name>
        <lei>529900BHRYZ464GFD289</lei>
        <title>GRENKE AG /EUR/ 0.00000000</title>
        <cusip>D2854Z135</cusip>
        <identifiers>
          <isin value="DE000A161N30"/>
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        <balance>44637.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>1300143.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KRONES AG /EUR/</name>
        <lei>N/A</lei>
        <title>KRONES AG /EUR/ 0.00000000</title>
        <cusip>D47441171</cusip>
        <identifiers>
          <isin value="DE0006335003"/>
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        <balance>21000.00000000</balance>
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      <invstOrSec>
        <name>EVOTEC SE /EUR/</name>
        <lei>529900F9KI6OYITO9B12</lei>
        <title>EVOTEC SE /EUR/ 0.00000000</title>
        <cusip>D1646D105</cusip>
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      <invstOrSec>
        <name>HENSOLDT AG /EUR/</name>
        <lei>894500686FYLLZD3M624</lei>
        <title>HENSOLDT AG /EUR/ 0.00000000</title>
        <cusip>D3R14P109</cusip>
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        <name>HYPOPORT SE /EUR/</name>
        <lei>391200GNIFXXP6KRYQ46</lei>
        <title>HYPOPORT SE /EUR/ 0.00000000</title>
        <cusip>D3149E101</cusip>
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      <invstOrSec>
        <name>UNITED INTERNET AG-REG S /EUR/</name>
        <lei>3VEKWPJHTD4NKMBVG947</lei>
        <title>UNITED INTERNET AG-REG SHARE /EUR/ 0.00000000</title>
        <cusip>D8542B125</cusip>
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          <isin value="DE0005089031"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THYSSENKRUPP AG /EUR/</name>
        <lei>549300UDG16DOYUPR330</lei>
        <title>THYSSENKRUPP AG /EUR/ 0.00000000</title>
        <cusip>D8398Q119</cusip>
        <identifiers>
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        <balance>450000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>3518807.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SCOUT24 SE /EUR/</name>
        <lei>5493007EIKM2ENQS7U66</lei>
        <title>SCOUT24 SE /EUR/ 144A 0.00000000</title>
        <cusip>D345XT105</cusip>
        <identifiers>
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        <balance>113144.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>7168744.10000000</valUSD>
        <pctVal>3.965411367243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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      </invstOrSec>
      <invstOrSec>
        <name>SMA SOLAR TECHNOLOGY AG /EUR/</name>
        <lei>529900Q6JQHI8X451Q21</lei>
        <title>SMA SOLAR TECHNOLOGY AG /EUR/ 0.00000000</title>
        <cusip>D7008K108</cusip>
        <identifiers>
          <isin value="DE000A0DJ6J9"/>
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        <balance>16000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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      </invstOrSec>
      <invstOrSec>
        <name>AURUBIS AG /EUR/</name>
        <lei>5299005SHIN9ZK7GW242</lei>
        <title>AURUBIS AG /EUR/ 0.00000000</title>
        <cusip>D10004105</cusip>
        <identifiers>
          <isin value="DE0006766504"/>
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        <balance>15700.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KION GROUP AG /EUR/</name>
        <lei>5299005KY91C4C6U9H17</lei>
        <title>KION GROUP AG /EUR/ 0.00000000</title>
        <cusip>D4S14D103</cusip>
        <identifiers>
          <isin value="DE000KGX8881"/>
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        <balance>59881.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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      <invstOrSec>
        <name>GERRESHEIMER AG /EUR/</name>
        <lei>5299006GD4UWSYZOKC28</lei>
        <title>GERRESHEIMER AG /EUR/ 0.00000000</title>
        <cusip>D2852S109</cusip>
        <identifiers>
          <isin value="DE000A0LD6E6"/>
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        <balance>33542.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SALZGITTER AG /EUR/</name>
        <lei>529900E12Z6HXIMHFA15</lei>
        <title>SALZGITTER AG /EUR/ 0.00000000</title>
        <cusip>D80900109</cusip>
        <identifiers>
          <isin value="DE0006202005"/>
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        <balance>17922.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JUNGHEINRICH - PRFD /EUR/</name>
        <lei>529900PHZORTU6FSXE73</lei>
        <title>JUNGHEINRICH - PRFD /EUR/ 0.00000000</title>
        <cusip>D37552102</cusip>
        <identifiers>
          <isin value="DE0006219934"/>
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        <balance>167174.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLATEXDEGIRO AG /EUR/</name>
        <lei>529900IRBZTADXJB6757</lei>
        <title>FLATEXDEGIRO AG /EUR/ 0.00000000</title>
        <cusip>D3690M106</cusip>
        <identifiers>
          <isin value="DE000FTG1111"/>
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        <balance>53679.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
        <valUSD>531944.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FRAPORT AG FRANKFURT AIR /EUR/</name>
        <lei>5299001ERX0K10IZUL40</lei>
        <title>FRAPORT AG FRANKFURT AIRPORT /EUR/ 0.00000000</title>
        <cusip>D3856U108</cusip>
        <identifiers>
          <isin value="DE0005773303"/>
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        <balance>17696.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91667430"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FRESENIUS MEDICAL CARE AG &amp; CO /EUR/</name>
        <lei>549300CP8NY40UP89Q40</lei>
        <title>FRESENIUS MEDICAL CARE AG &amp; CO /EUR/ 0.00000000</title>
        <cusip>D2734Z107</cusip>
        <identifiers>
          <isin value="DE0005785802"/>
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        <balance>90000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>1&amp;1 AG /EUR/</name>
        <lei>N/A</lei>
        <title>1&amp;1 AG /EUR/ 0.00000000</title>
        <cusip>D5934B101</cusip>
        <identifiers>
          <isin value="DE0005545503"/>
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        <balance>26047.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VOSSLOH AG /EUR/</name>
        <lei>5299003HAEOUVX3HWX43</lei>
        <title>VOSSLOH AG /EUR/ 0.00000000</title>
        <cusip>D9494V101</cusip>
        <identifiers>
          <isin value="DE0007667107"/>
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        <balance>24000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HELLA GMBH &amp; CO KGAA /EUR/</name>
        <lei>529900PLX4ADJFWIY024</lei>
        <title>HELLA GMBH &amp; CO KGAA /EUR/ 0.00000000</title>
        <cusip>D3R112160</cusip>
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          <isin value="DE000A13SX22"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>SECUNET SECURITY NETWORK /EUR/</name>
        <lei>N/A</lei>
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        <cusip>D69074108</cusip>
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        <name>BILFINGER SE /EUR/</name>
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        <title>BILFINGER SE /EUR/ 0.00000000</title>
        <cusip>D11648108</cusip>
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        <name>TALANX AG /EUR/</name>
        <lei>N/A</lei>
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        <name>STABILUS SE /EUR/</name>
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        <name>RTL GROUP /EUR/</name>
        <lei>N/A</lei>
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        <name>ABOUT YOU HOLDING SE /EUR/</name>
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        <title>ABOUT YOU HOLDING SE /EUR/ 0.00000000</title>
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        <name>BECHTLE AG /EUR/</name>
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        <title>BECHTLE AG /EUR/ 0.00000000</title>
        <cusip>D0873U103</cusip>
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        <name>STEICO SE /EUR/</name>
        <lei>5299007UCGLCBLO3OE49</lei>
        <title>STEICO SE /EUR/ 0.00000000</title>
        <cusip>D7632P119</cusip>
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        <name>VITESCO TECHNOLOGIES GRO /EUR/</name>
        <lei>529900CCDMZ7UCYYS252</lei>
        <title>VITESCO TECHNOLOGIES GROUP A /EUR/ 0.00000000</title>
        <cusip>D8T4KW107</cusip>
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        <name>HUGO BOSS AG  -ORD /EUR/</name>
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        <name>SIXT SE /EUR/</name>
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        <name>DWS</name>
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        <name>DWS</name>
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        <name>EVONIK INDUSTRIES AG /EUR/</name>
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        <name>DEUTSCHE LUFTHANSA-REG /EUR/</name>
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        <title>DEUTSCHE LUFTHANSA-REG /EUR/ 0.00000000</title>
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        <name>DEUTZ AG /EUR/</name>
        <lei>5299005DETTV58V2PP63</lei>
        <title>DEUTZ AG /EUR/ 0.00000000</title>
        <cusip>D39176108</cusip>
        <identifiers>
          <isin value="DE0006305006"/>
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      <invstOrSec>
        <name>KLOECKNER &amp; CO SE /EUR/</name>
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        <title>KLOECKNER &amp; CO SE /EUR/ 0.00000000</title>
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          <isin value="DE000KC01000"/>
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      <invstOrSec>
        <name>IONOS SE /EUR/</name>
        <lei>N/A</lei>
        <title>IONOS SE /EUR/ 0.00000000</title>
        <cusip>D3R77H101</cusip>
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          <isin value="DE000A3E00M1"/>
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      </invstOrSec>
      <invstOrSec>
        <name>NOVEM GROUP SA /EUR/</name>
        <lei>222100KIY63U7PV8N251</lei>
        <title>NOVEM GROUP SA /EUR/ 0.00000000</title>
        <cusip>L14547100</cusip>
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          <isin value="LU2356314745"/>
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        <invCountry>LU</invCountry>
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      <invstOrSec>
        <name>SILTRONIC AG /EUR/</name>
        <lei>5299003NKV26NNGHHR90</lei>
        <title>SILTRONIC AG /EUR/ 0.00000000</title>
        <cusip>D6948S114</cusip>
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          <isin value="DE000WAF3001"/>
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        <invCountry>DE</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>STROEER MEDIA AG /EUR/_</name>
        <lei>529900MBF3N1ATE55378</lei>
        <title>STROEER MEDIA AG /EUR/_ 0.00000000</title>
        <cusip>D8169G100</cusip>
        <identifiers>
          <isin value="DE0007493991"/>
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        <invCountry>DE</invCountry>
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        <securityLending>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-07-28</ncom:dateSigned>
      <ncom:nameOfApplicant>The New Germany Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Diane Kenneally </ncom:signature>
      <ncom:signerName>Diane Kenneally </ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer </ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
