0001752724-23-255705.txt : 20231117 0001752724-23-255705.hdr.sgml : 20231117 20231117155814 ACCESSION NUMBER: 0001752724-23-255705 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230930 FILED AS OF DATE: 20231117 DATE AS OF CHANGE: 20231117 PERIOD START: 20231231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DEUTSCHE DWS VARIABLE SERIES II CENTRAL INDEX KEY: 0000810573 IRS NUMBER: 810105002 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-05002 FILM NUMBER: 231418422 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: DEUTSCHE VARIABLE SERIES II DATE OF NAME CHANGE: 20140811 FORMER COMPANY: FORMER CONFORMED NAME: DWS VARIABLE SERIES II DATE OF NAME CHANGE: 20060303 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER VARIABLE SERIES II DATE OF NAME CHANGE: 20010501 0000810573 S000023653 DWS Alternative Asset Allocation VIP C000069664 Class A C000077948 Class B NPORT-P 1 primary_doc.xml NPORT-P false 0000810573 XXXXXXXX S000023653 C000077948 C000069664 DEUTSCHE DWS VARIABLE SERIES II 811-05002 0000810573 7WRERVUOG2HKG87QIP75 875 Third Avenue NEW YORK 10022-6225 212-454-4500 DWS Alternative Asset Allocation VIP S000023653 GQ5WPXZ58F53M4Z2IQ22 2023-12-31 2023-09-30 N 410505578.69 309463.02 410196115.67 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N iShares JP Morgan USD Emerging 549300LRIF3NWCU26A80 iShares JP Morgan USD Emerging Markets Bond ETF 464288281 238293.00000000 NS USD 19663938.36000000 4.793789509167 Long EC RF US N 1 N N N iShares Global Infrastructure 549300ZC2N3HUK3DTK30 iShares Global Infrastructure ETF 464288372 141313.00000000 NS USD 6117439.77000000 1.491345124028 Long EC RF US N 1 N N N iShares US Preferred Stock ETF 549300YX74JNY54XCY80 iShares US Preferred Stock ETF 464288687 459281.00000000 NS USD 13847322.15000000 3.375780906014 Long EC RF US N 1 N N N DWS 549300PVLPCCDJRWQR23 DWS RREEF Global Infrastructure Fund 'Institutional' 25156A858 3942049.29000000 NS USD 52665778.45000000 12.83917044508 Long EC RF US N 1 N N N DWS 2EGUP71H6PBMSKMC3J09 DWS RREEF Real Estate Securities Fund 'Institutional' 25159L737 1709214.21000000 NS USD 30970961.52000000 7.550281520685 Long EC RF US N 1 N N N DWS LBPF8NSCNKWC3WP4IN32 DWS Emerging Markets Fixed Income Fund 'Institutional' 25156A841 2390935.04000000 NS USD 15469349.70000000 3.771208236512 Long EC RF US N 1 N N N SPDR S&P Global Natural Resources ETF 549300TY1RVQ2C1UO359 SPDR S&P Global Natural Resources ETF 78463X541 73958.00000000 NS USD 4120939.76000000 1.004626714533 Long EC RF US N 1 N N N DWS 549300BLVWELXUBAZ487 DWS ESG Liquidity Fund 'Capital Shares' 461473837 38976074.02000000 NS USD 38968278.81000000 9.499914143835 Long EC RF US N 1 N N N DWS 0KSKGKXWCZQDZ1RPR634 DWS Floating Rate Fund 'Institutional' 25157W800 5580881.94000000 NS USD 42526320.38000000 10.36731425663 Long EC RF US N 1 N N N DWS 5493003GD84DGSXJ7618 DWS Central Cash Management Government Fund 25160K306 37506657.99000000 NS USD 37506657.99000000 9.143591700944 Long STIV RF US N 1 N N N SPDR Blackstone Senior Loan ETF 549300ME4SR63Y3TRD06 SPDR Blackstone Senior Loan ETF 78467V608 280331.00000000 NS USD 11754278.83000000 2.865526605682 Long EC RF US N 1 N N N DWS 549300VE52DGR0TFBL27 DWS Global Macro Fund 'Institutional' 25156G509 3455655.08000000 NS USD 32690497.05000000 7.969479914894 Long EC RF US N 1 N N N DWS U72UPDOVVEAXSRWTZF97 DWS Enhanced Commodity Strategy Fund 'Institutional' 25159L836 10511299.30000000 NS USD 60755309.93000000 14.81128358096 Long EC RF US N 1 N N N SPDR Bloomberg Barclays Conver 549300IXKU3G7R6DMX93 SPDR Bloomberg Barclays Convertible Securities ETF 78464A359 635878.00000000 NS USD 43112528.40000000 10.51022346459 Long EC RF US N 1 N N N 2023-10-27 DEUTSCHE DWS VARIABLE SERIES II Diane Kenneally Diane Kenneally Treasurer and Chief Financial Officer XXXX NPORT-EX 2 NPORT_729C_40332677_0923.htm EDGAR HTML
Investment Portfolioas of September 30, 2023 (Unaudited)
DWS Alternative Asset Allocation VIP  
 
 
Shares
Value ($)
 
Mutual Funds 57.3%
DWS Emerging Markets Fixed Income Fund "Institutional" (a)
2,390,935
15,469,350
DWS Enhanced Commodity Strategy Fund "Institutional" (a)
10,511,299
60,755,310
DWS Floating Rate Fund "Institutional" (a)
5,580,882
42,526,320
DWS Global Macro Fund "Institutional" (a)
3,455,655
32,690,497
DWS RREEF Global Infrastructure Fund "Institutional" (a)
3,942,049
52,665,778
DWS RREEF Real Estate Securities Fund "Institutional" (a)
1,709,214
30,970,962
Total Mutual Funds (Cost $268,618,356)
235,078,217
 
Exchange-Traded Funds 24.1%
iShares Global Infrastructure ETF
141,313
6,117,440
iShares JP Morgan USD Emerging Markets Bond ETF
238,293
19,663,938
iShares Preferred & Income Securities ETF
459,281
13,847,322
SPDR Blackstone Senior Loan ETF
280,331
11,754,279
SPDR Bloomberg Convertible Securities ETF
635,878
43,112,528
SPDR S&P Global Natural Resources ETF
73,958
4,120,940
Total Exchange-Traded Funds (Cost $97,007,958)
98,616,447
 
Cash Equivalents 18.7%
DWS Central Cash Management Government Fund, 5.36% (a) (b)
37,506,658
37,506,658
DWS ESG Liquidity Fund "Institutional", 5.43% (a) (b)
39,155,428
39,147,597
Total Cash Equivalents (Cost $76,652,379)
76,654,255
 
 
 
 
% of
Net Assets
Value ($)
Total Investment Portfolio (Cost $442,278,693)
100.1
410,348,919
Other Assets and Liabilities, Net
(0.1
)
(415,200
)
Net Assets
100.0
409,933,719
For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.
A summary of the Fund’s transactions with affiliated Underlying DWS Funds during the period ended September 30, 2023 are as follows: 
Value ($) at
12/31/2022
Purchases
Cost ($)
Sales
Proceeds ($)
Net Realized
Gain/
(Loss) ($)
Net Change in
Unrealized
Appreciation
(Depreciation) ($)
Income ($)
Capital Gain
Distributions ($)
Number
of Shares
at
9/30/2023
Value ($) at
9/30/2023
Mutual Funds 57.3%
DWS Emerging Markets Fixed Income Fund "Institutional" (a)
15,307,718
761,893
—
—
(600,261)
761,893
—
2,390,935
15,469,350
DWS Enhanced Commodity Strategy Fund "Institutional" (a)
54,938,029
8,634,839
—
—
(2,817,558)
828,039
—
10,511,299
60,755,310
DWS Floating Rate Fund "Institutional" (a)
39,196,806
2,522,812
—
—
806,702
2,522,812
—
5,580,882
42,526,320
DWS Global Macro Fund "Institutional" (a)
31,508,793
892,214
—
—
289,490
892,214
—
3,455,655
32,690,497
DWS RREEF Global Infrastructure Fund "Institutional" (a)
57,617,260
1,184,907
—
—
(6,136,389)
951,172
233,735
3,942,049
52,665,778
Value ($) at
12/31/2022
Purchases
Cost ($)
Sales
Proceeds ($)
Net Realized
Gain/
(Loss) ($)
Net Change in
Unrealized
Appreciation
(Depreciation) ($)
Income ($)
Capital Gain
Distributions ($)
Number
of Shares
at
9/30/2023
Value ($) at
9/30/2023
DWS RREEF Real Estate Securities Fund "Institutional" (a)
32,090,988
457,329
—
—
(1,577,355)
457,329
—
1,709,214
30,970,962
Cash Equivalents 18.7%
DWS Central Cash Management Government Fund, 5.36% (a) (b)
48,680,508
25,459,607
36,633,457
—
—
1,639,950
—
37,506,658
37,506,658
DWS ESG Liquidity Fund "Institutional", 5.43% (a) (b)
54,525,559
1,539,016
16,914,900
1,672
(3,750)
1,542,415
—
39,155,428
39,147,597
333,865,661
41,452,617
53,548,357
1,672
(10,039,121)
9,595,824
233,735
104,252,120
311,732,472
 
(a)
Affiliated fund managed by DWS Investment Management Americas, Inc.
(b)
The rate shown is the annualized seven-day yield at period end.
 
S&P: Standard & Poor's
SPDR: Standard & Poor's Depositary Receipt
Fair Value Measurements
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The following is a summary of the inputs used as of September 30, 2023 in valuing the Fund's investments.  
Assets
Level 1
Level 2
Level 3
Total
Mutual Funds
$235,078,217
$—
$—
$235,078,217
Exchange-Traded Funds
98,616,447
—
—
98,616,447
Short-Term Investments
76,654,255
—
—
76,654,255
Total
$410,348,919
$—
$—
$410,348,919
OBTAIN AN OPEN-END FUND PROSPECTUS
To obtain a summary prospectus, if available, or prospectus, download one from fundsus.dws.com, talk to your financial representative or call (800) 728-3337. We advise you to carefully consider the product's objectives, risks, charges and expenses before investing. The summary prospectus and prospectus contain this and other important information about the investment product. Please read the prospectus carefully before you invest.
CLOSED-END FUNDS
Closed-end funds, unlike open-end funds, are not continuously offered. There is a one time public offering and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the fund’s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, the fund cannot predict whether its shares will trade at, below or above net asset value.
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas Inc. and RREEF America L.L.C. which offer advisory services.
DWS Distributors, Inc., 222 South Riverside Plaza, Chicago, IL 60606, (800) 621-1148
NO BANK GUARANTEE | NOT FDIC INSURED | MAY LOSE VALUE
VS2AAA-PH3
R-080548-2 (1/25)