UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
_______________________________
Investment Company Act file number 811-5983
The New Germany Fund, Inc.
(Exact name of registrant as specified in charter)
Two International Place
Boston, MA 02110
(Address of principal executive offices) (Zip code)
Paul Schubert
345 Park Avenue
New York, NY 10154
(Name and address of agent for service)
Registrant's telephone number, including area code: (212) 454-7190
Date of fiscal year end: 12/31
Date of reporting period: 03/31/06
Form N-Q is to be used by registered management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
ITEM 1. SCHEDULE OF INVESTMENTS
THE NEW GERMANY FUND, INC.
SCHEDULE OF INVESTMENTS — MARCH 31, 2006 (unaudited)
|
Shares |
Description |
Value |
INVESTMENTS IN GERMAN SECURITIES - 83.8%
COMMON STOCKS - 76.1%
AEROSPACE & DEFENSE - 1.8%
|
|
185,000 |
Mtu Aero Engines Holding Ag* |
$ 6,278,160 |
AIRPORTS, FLYING FIELDS & AIRPORT - 2.2%
|
|
100,000 |
Fraport† |
7,611,360 |
BIOTECHNOLOGY - 0.7%
|
|
160,000 |
GPC Biotech*† |
2,559,744 |
CHEMICALS - 8.7%
|
|
505,000 |
GEA Group* |
8,495,393 |
|
|
198,200 |
K + S |
15,998,546 |
|
|
170,000 |
Lanxess* |
6,389,300 |
30,883,239
COMMERCIAL SERVICES & SUPPLIES - 1.0%
|
|
95,000 |
Interseroh |
3,502,559 |
CONSTRUCTION & ENGINEERING - 2.2%
|
|
117,200 |
Bilfinger Berger |
7,684,710 |
DIVERSIFIED FINANCIALS - 4.0%
|
|
72,000 |
AWD Holding† |
2,460,845 |
|
|
140,000 |
Deutsche Postbank† |
10,160,438 |
|
|
70,000 |
MLP† |
1,711,223 |
14,332,506
DIVERSIFIED TELECOMMUNICATION SERVICES - 1.7%
|
|
255,000 |
Mobilcom |
6,175,019 |
ELECTRICAL EQUIPMENT - 3.1%
|
|
160,000 |
Sgl Carbon* |
2,924,313 |
|
|
30,500 |
Solarworld |
8,014,229 |
10,938,542
ELECTRONIC EQUIPMENT & INSTRUMENTS - 6.1%
|
|
97,460 |
Funkwerk |
2,948,313 |
|
|
542,720 |
Kontron* |
5,972,612 |
|
|
321,600 |
Suess MicroTec*† |
3,122,131 |
|
|
150,000 |
Utimaco Safeware* |
2,099,790 |
|
|
60,000 |
Wincor Nixdorf |
7,562,880 |
21,705,726
|
Shares |
Description |
Value |
HEALTHCARE PROVIDERS & SERVICES - 1.9%
|
|
156,000 |
Rhoen-Klinikum |
$ 6,683,695 |
HOUSEHOLD PRODUCTS - 1.4%
|
|
33,161 |
Beiersdorf |
4,782,745 |
INSURANCE - 0.8%
|
|
76,800 |
Hannover Rückversicherungs† |
2,849,228 |
INTERNET SOFTWARE & SERVICES - 4.4%
|
|
130,000 |
Freenet.de |
3,450,564 |
|
|
190,000 |
United Internet† |
12,225,565 |
15,676,129
INVESTORS - 1.3%
|
|
55,000 |
Mpc Muenchmeyer Peterson Cap |
4,766,190 |
LIFE INSURANCE - 1.4%
|
|
42,000 |
AMB Generali Holding |
5,082,764 |
MACHINERY - 8.2%
|
|
145,000 |
Heidelberger Druckmaschinen |
6,396,936 |
|
|
28,000 |
Krones |
3,387,152 |
|
|
65,234 |
Pfeiffer Vacuum Technology |
4,364,311 |
|
|
191,709 |
Rheinmetall |
14,870,484 |
29,018,883
METALS & MINING - 2.7%
|
|
130,000 |
Salzgitter |
9,571,770 |
MULTILINE RETAIL - 1.8%
|
|
134,625 |
Douglas Holding† |
6,340,611 |
PHARMACEUTICALS - 9.4%
|
|
108,000 |
Celesio |
10,221,669 |
|
|
134,000 |
Merck KGaA |
12,737,659 |
|
|
50,000 |
Schwarz Pharma |
4,020,810 |
|
|
145,000 |
Stada Arzneimittel |
6,256,344 |
33,236,482
REAL ESTATE - 4.7%
|
|
35,000 |
Deutsche Euroshop |
2,470,541 |
|
|
105,000 |
Hypo Real Estate Holding |
7,199,098 |
|
|
230,000 |
Ivg Holding Ag* |
6,916,036 |
16,585,675
SOFTWARE - 1.5%
|
|
95,000 |
Software |
5,302,197 |
SPECIALTY RETAIL - 1.6%
|
|
130,000 |
Hugo Boss Ag -Ord |
5,542,961 |
THE NEW GERMANY FUND, INC.
SCHEDULE OF INVESTMENTS — MARCH 31, 2006 (unaudited) (continued)
|
|
Shares |
Description |
Value |
TEXTILES, APPAREL & LUXURY GOODS - 3.5%
|
|
33,000 |
Puma |
$ 12,497,150 |
Total Common Stocks
|
|
(cost $166,409,664) |
269,608,045 |
PREFERRED STOCKS - 7.7%
ELECTRICAL EQUIPMENT - 2.2%
|
|
220,800 |
Sartorius |
7,546,591 |
HEALTHCARE PROVIDERS & SERVICES - 4.3%
|
|
85,354 |
Fresenius |
15,310,459 |
MEDIA - 1.2%
|
|
163,400 |
Prosieben Sat.1 Media |
4,257,877 |
Total Preferred Stocks
|
|
(cost $11,041,421) |
27,114,927 |
Total Investments in
German Securities
|
|
(cost $177,451,085) |
296,722,972 |
INVESTMENTS IN DUTCH COMMON STOCKS - 8.4%
AEROSPACE & DEFENSE - 7.6%
|
|
640,000 |
European Aeronautic Defense |
26,978,150 |
BIOTECHNOLOGY - 0.8%
|
|
199,150 |
Qiagen*† |
2,944,712 |
Total Investments in Dutch
Common Stocks
|
|
(cost $8,167,196) |
29,922,862 |
INVESTMENTS IN IRISH COMMON STOCKS - 3.2%
DIVERSIFIED FINANCIAL SERVICES - 3.2%
|
|
635,000 |
Depfa Bank Plc(Cost $3,035,301) |
11,313,414 |
INVESTMENTS IN ITALIAN COMMON STOCKS - 1.5%
COMMERCIAL BANKS - 1.5%
|
|
105,000 |
Banca Italease*(Cost $2,818,230) |
5,201,116 |
|
|
Shares |
Description |
Value |
INVESTMENTS IN SWISS COMMON STOCKS - 1.2%
OIL & GAS EXPLORATION & PRODUCTION - 1.2%
|
|
157,300 |
Biopetrol Industries Ag |
|
|
(Cost $1,655,053) |
4,289,571 |
SECURITIES LENDING COLLATERAL - 8.7%
|
30,757,317 |
Daily Assets Fund Institutional, 4.73%†† |
|
|
(cost $30,757,317) |
$ |
30,757,317 |
Total Investments—106.8%
|
|
(cost $223,884,182) |
378,207,252 |
Liabilities in excess of cash and
|
|
other assets—(6.8)% |
(23,947,385) |
|
|
NET ASSETS—100.0% |
$354,259,867 |
|
* |
Non-income producing security. |
|
† |
-All or a portion of these securities were on loan. The value of all securities loaned at March 31, 2006 amounted to $29,268,464 which is 8.3% of the net assets. |
|
†† |
-Represents collateral held in connection with securities lending. Daily Assets Fund Institutional, an affiliated fund, is managed by Deutsche Asset Management, Inc. The rate shown is the annualized seven-day yield at period end. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
Registrant: |
The New Germany Fund, Inc. |
|
By: |
/s/Michael Colon | |
|
|
Michael Colon |
|
President
|
Date: |
May 19, 2006 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
Registrant: |
The New Germany Fund, Inc. |
|
By: |
/s/Michael Colon | |
|
|
Michael Colon |
|
President
|
Date: |
May 19, 2006 |
|
By: |
/s/Paul Schubert | |
|
|
Paul Schubert |
|
Chief Financial Officer and Treasurer
Date: May 19, 2006