Investment Portfolio | as of January 31, 2021 (Unaudited) |
Shares | Value ($) | ||
Common Stocks 53.1% | |||
China 2.1% | |||
Alibaba Group Holding Ltd. (ADR)* | 8,879 | 2,253,757 | |
Tencent Holdings Ltd. | 19,000 | 1,672,961 | |
(Cost $2,809,340) | 3,926,718 | ||
France 5.4% | |||
AXA SA | 126,947 | 2,814,909 | |
Bureau Veritas SA* | 12,950 | 339,833 | |
Capgemini SE | 5,831 | 842,996 | |
Cie de Saint-Gobain* | 18,091 | 899,099 | |
EssilorLuxottica SA | 5,883 | 834,163 | |
LVMH Moet Hennessy Louis Vuitton SE | 1,186 | 716,408 | |
Sanofi | 18,825 | 1,768,942 | |
Veolia Environnement SA | 77,886 | 2,083,300 | |
(Cost $9,613,928) | 10,299,650 | ||
Germany 15.1% | |||
BASF SE | 44,993 | 3,477,540 | |
Bayer AG (Registered) | 40,233 | 2,426,276 | |
Deutsche Post AG (Registered) | 22,725 | 1,122,482 | |
Deutsche Telekom AG (Registered) | 218,340 | 3,890,001 | |
E.ON SE | 392,485 | 4,150,656 | |
Evonik Industries AG | 61,601 | 2,024,791 | |
HeidelbergCement AG | 24,262 | 1,785,657 | |
Infineon Technologies AG | 63,080 | 2,527,141 | |
Volkswagen AG (Preference) | 18,930 | 3,578,489 | |
Vonovia SE (REIT) | 58,685 | 3,925,700 | |
(Cost $25,369,355) | 28,908,733 | ||
Ireland 0.8% | |||
Johnson Controls International PLC (Cost $1,404,024) | 30,169 | 1,503,020 | |
Japan 1.8% | |||
Panasonic Corp. | 138,800 | 1,793,162 | |
Secom Co., Ltd. | 7,500 | 680,597 | |
Takeda Pharmaceutical Co., Ltd. | 29,700 | 1,048,596 | |
(Cost $3,134,815) | 3,522,355 | ||
Korea 1.1% | |||
Samsung Electronics Co., Ltd. (Cost $1,358,506) | 28,357 | 2,071,363 | |
Netherlands 0.6% | |||
Koninklijke Ahold Delhaize NV (Cost $1,066,789) | 42,535 | 1,216,711 | |
Spain 1.4% | |||
Red Electrica Corp. SA (Cost $2,706,998) | 139,509 | 2,648,771 |
Switzerland 3.7% | |||
Alcon, Inc.* | 8,658 | 618,136 | |
Nestle SA (Registered) | 16,305 | 1,828,738 | |
Novartis AG (Registered) | 13,433 | 1,213,460 | |
Roche Holding AG (Genusschein) | 5,185 | 1,785,952 | |
TE Connectivity Ltd. (a) | 12,717 | 1,531,127 | |
(Cost $5,222,276) | 6,977,413 | ||
Taiwan 3.5% | |||
Taiwan Semiconductor Manufacturing Co., Ltd. (Cost $3,446,043) | 321,000 | 6,688,369 | |
United Kingdom 2.7% | |||
Compass Group PLC* | 61,953 | 1,108,298 | |
Linde PLC (a) | 5,418 | 1,329,577 | |
Smith & Nephew PLC | 38,283 | 807,136 | |
Vodafone Group PLC | 1,158,789 | 1,984,852 | |
(Cost $5,517,512) | 5,229,863 | ||
United States 14.9% | |||
AbbVie, Inc. | 9,179 | 940,730 | |
Alphabet, Inc.* | 2,561 | 4,679,869 | |
Amazon.com, Inc.* | 624 | 2,000,669 | |
American Express Co. | 11,957 | 1,390,121 | |
AT&T, Inc. | 96,511 | 2,763,110 | |
Broadcom, Inc. | 4,167 | 1,877,233 | |
Cisco Systems, Inc. | 30,837 | 1,374,713 | |
CVS Health Corp. | 5,223 | 374,228 | |
Darling Ingredients, Inc.* | 5,248 | 325,428 | |
Johnson & Johnson | 25,612 | 4,178,085 | |
JPMorgan Chase & Co. | 15,410 | 1,982,805 | |
MasterCard, Inc. | 1,785 | 564,578 | |
Microsoft Corp. | 14,863 | 3,447,621 | |
Pfizer, Inc. | 18,283 | 656,360 | |
Pinterest, Inc.* | 13,413 | 918,925 | |
Visa, Inc. | 5,013 | 968,762 | |
(Cost $23,104,983) | 28,443,237 | ||
Total Common Stocks (Cost $84,754,569) | 101,436,203 |
Principal Amount ($) (b) | Value ($) | ||
Bonds 20.4% | |||
France 1.6% | |||
BNP Paribas SA, REG S, 3-month EURIBOR plus 0.85%, 0.313% (c), 9/22/2022 | EUR | 357,000 | 438,362 |
CMA CGM SA: | |||
REG S, 5.25%, 1/15/2025 | EUR | 1,200,000 | 1,457,789 |
REG S, 6.5%, 7/15/2022 | EUR | 1,000,000 | 1,230,476 |
(Cost $2,582,761) | 3,126,627 | ||
Germany 1.7% | |||
Hapag-Lloyd AG, REG S, 5.125%, 7/15/2024 | EUR | 329,062 | 413,309 |
Kreditanstalt fuer Wiederaufbau, 1.0%, 10/12/2021 | NOK | 23,400,000 | 2,743,512 |
(Cost $2,990,383) | 3,156,821 |
Norway 0.9% | |||
Norway Government Bond, Series 475, REG S, 144A, 2.0%, 5/24/2023 (Cost $1,512,397) | NOK | 13,708,000 | 1,659,411 |
Oman 1.4% | |||
Oman Government International Bond: | |||
REG S, 4.75%, 6/15/2026 | 1,000,000 | 1,020,060 | |
REG S, 5.625%, 1/17/2028 | 1,600,000 | 1,656,000 | |
(Cost $2,244,681) | 2,676,060 | ||
Russia 1.4% | |||
Russian Federal Bond - OFZ: | |||
7.0%, 8/16/2023 | RUB | 100,000,000 | 1,385,174 |
7.6%, 4/14/2021 | RUB | 100,000,000 | 1,329,995 |
(Cost $3,226,088) | 2,715,169 | ||
Turkey 1.1% | |||
Republic of Turkey: | |||
3.25%, 6/14/2025 | EUR | 200,000 | 244,520 |
4.35%, 11/12/2021 | EUR | 1,000,000 | 1,240,466 |
5.125%, 3/25/2022 | 200,000 | 204,664 | |
5.625%, 3/30/2021 | 208,000 | 208,800 | |
6.25%, 9/26/2022 | 200,000 | 209,252 | |
7.375%, 2/5/2025 | 80,000 | 89,288 | |
(Cost $2,018,035) | 2,196,990 | ||
United States 12.3% | |||
AbbVie, Inc., 2.95%, 11/21/2026 | 3,000,000 | 3,294,574 | |
Anheuser-Busch InBev Worldwide, Inc., 4.0%, 4/13/2028 | 170,000 | 196,821 | |
Coty, Inc.: | |||
REG S, 4.0%, 4/15/2023 | EUR | 1,000,000 | 1,134,887 |
144A, 6.5%, 4/15/2026 | 900,000 | 850,500 | |
DISH DBS Corp., 7.75%, 7/1/2026 | 40,000 | 43,700 | |
Howmet Aerospace, Inc., 5.125%, 10/1/2024 | 1,540,000 | 1,694,169 | |
Netflix, Inc.: | |||
4.625%, 5/15/2029 | EUR | 185,000 | 285,124 |
6.375%, 5/15/2029 | 100,000 | 129,313 | |
Sprint Corp., 7.25%, 9/15/2021 | 800,000 | 826,400 | |
The Goldman Sachs Group, Inc., "A", REG S, 3-month EURIBOR plus 1.0%, 0.457% (c), 7/27/2021 | EUR | 352,000 | 429,096 |
T-Mobile U.S.A., Inc., 6.0%, 3/1/2023 | 1,000,000 | 1,001,250 | |
U.S. Treasury Notes: | |||
1.5%, 9/30/2021 (d) | 4,000,000 | 4,036,875 | |
1.625%, 12/31/2021 (d) | 4,000,000 | 4,055,313 | |
2.375%, 5/15/2029 | 2,957,000 | 3,298,210 | |
2.75%, 4/30/2023 | 1,000,000 | 1,058,398 | |
VeriSign, Inc., 5.25%, 4/1/2025 | 300,000 | 338,625 | |
Verizon Communications, Inc., 2.625%, 8/15/2026 | 800,000 | 868,754 | |
(Cost $22,626,781) | 23,542,009 | ||
Total Bonds (Cost $37,201,126) | 39,073,087 |
Shares | Value ($) | ||
Exchange-Traded Funds 4.5% | |||
iShares Nasdaq Biotechnology ETF (e) | 8,005 | 1,285,923 | |
SPDR Gold MiniShares Trust | 400,000 | 7,336,000 | |
Total Exchange-Traded Funds (Cost $8,444,453) | 8,621,923 | ||
Securities Lending Collateral 0.7% | |||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (f) (g) (Cost $1,310,000) | 1,310,000 | 1,310,000 | |
Cash Equivalents 20.6% | |||
DWS Central Cash Management Government Fund, 0.05% (f) (Cost $39,461,919) | 39,461,919 | 39,461,919 |
% of Net Assets | Value ($) | ||
Total Investment Portfolio (Cost $171,172,067) | 99.3 | 189,903,132 | |
Other Assets and Liabilities, Net | 0.7 | 1,369,067 | |
Net Assets | 100.0 | 191,272,199 |
Value ($) at 10/31/2020 | Pur- chases Cost ($) | Sales Proceeds ($) | Net Real- ized Gain/ (Loss) ($) | Net Change in Unreal- ized Appreci- ation (Depreci- ation) ($) | Income ($) | Capital Gain Distri- butions ($) | Number of Shares at 1/31/2021 | Value ($) at 1/31/2021 |
Securities Lending Collateral 0.7% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (f) (g) | ||||||||
5,843,600 | — | 4,533,600 (h) | — | — | 4,408 | — | 1,310,000 | 1,310,000 |
Cash Equivalents 20.6% | ||||||||
DWS Central Cash Management Government Fund, 0.05% (f) | ||||||||
41,650,529 | 15,223,629 | 17,412,239 | — | — | 9,081 | — | 39,461,919 | 39,461,919 |
47,494,129 | 15,223,629 | 21,945,839 | — | — | 13,489 | — | 40,771,919 | 40,771,919 |
* | Non-income producing security. |
(a) | Listed on the New York Stock Exchange. |
(b) | Principal amount stated in U.S. dollars unless otherwise noted. |
(c) | Variable or floating rate security. These securities are shown at their current rate as of January 31, 2021. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description above. Certain variable rate securities are not based on a published reference rate and spread but adjust periodically based on current market conditions, prepayment of underlying positions and/or other variables. |
(d) | At January 31, 2021, this security has been pledged, in whole or in part, to cover initial margin requirements for open futures contracts. |
(e) | All or a portion of these securities were on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The value of securities loaned at January 31, 2021 amounted to $1,285,120, which is 0.7% of net assets. |
(f) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(g) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
(h) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the year ended January 31, 2021. |
144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
ADR: American Depositary Receipt |
EURIBOR: Euro Interbank Offered Rate |
OFZ: Obigatyi Federal novo Zaima (Federal Loan Obligations) |
REG S: Securities sold under Regulation S may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. |
REIT: Real Estate Investment Trust |
S&P: Standard & Poor's |
SPDR: Standard & Poor's Depositary Receipt |
Futures | Currency | Expiration Date | Contracts | Notional Amount ($) | Notional Value ($) | Unrealized Appreciation/ (Depreciation) ($) |
10 Year U.S. Treasury Note | USD | 3/22/2021 | 28 | 3,861,594 | 3,836,875 | 24,719 |
CAC 40 Index | EUR | 2/19/2021 | 10 | 685,741 | 654,832 | 30,909 |
DAX Index | EUR | 3/19/2021 | 19 | 7,838,741 | 7,748,453 | 90,288 |
S&P 500 E-Mini Index | USD | 3/19/2021 | 37 | 6,837,244 | 6,854,620 | (17,376) |
U.S. Treasury Long Bond | USD | 3/22/2021 | 11 | 1,854,847 | 1,855,906 | (1,059) |
Total net unrealized appreciation | 127,481 |
Contracts to Deliver | In Exchange For | Settlement Date | Unrealized Depreciation ($) | Counterparty | ||
USD | 1,011,617 | CHF | 897,986 | 2/26/2021 | (2,796) | Royal Bank of Canada |
EUR | 39,622,310 | USD | 48,066,854 | 2/26/2021 | (42,241) | Royal Bank of Canada |
USD | 1,201,588 | GBP | 874,707 | 2/26/2021 | (2,964) | Royal Bank of Canada |
USD | 1,030,344 | NOK | 8,821,067 | 2/26/2021 | (494) | Toronto-Dominion Bank |
Total unrealized depreciation | (48,495) |
CHF | Swiss Franc |
EUR | Euro |
GBP | British Pound |
NOK | Norwegian Krone |
RUB | Russian Ruble |
USD | United States Dollar |
Sector Diversification | Market Value ($) | As a % of Common Stocks and Corporate Bonds |
Information Technology | 25,343,369 | 21% |
Health Care | 19,112,475 | 16% |
Communication Services | 15,953,418 | 13% |
Consumer Discretionary | 13,616,654 | 12% |
Financials | 9,798,805 | 8% |
Industrials | 9,340,774 | 8% |
Utilities | 8,882,727 | 8% |
Materials | 8,617,565 | 7% |
Consumer Staples | 4,221,377 | 4% |
Real Estate | 3,925,700 | 3% |
Total | 118,812,864 | 100% |
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | ||||
China | $2,253,757 | $1,672,961 | $— | $3,926,718 |
France | — | 10,299,650 | — | 10,299,650 |
Germany | — | 28,908,733 | — | 28,908,733 |
Ireland | 1,503,020 | — | — | 1,503,020 |
Japan | — | 3,522,355 | — | 3,522,355 |
Korea | — | 2,071,363 | — | 2,071,363 |
Netherlands | — | 1,216,711 | — | 1,216,711 |
Spain | — | 2,648,771 | — | 2,648,771 |
Switzerland | 1,531,127 | 5,446,286 | — | 6,977,413 |
Taiwan | — | 6,688,369 | — | 6,688,369 |
United Kingdom | 1,329,577 | 3,900,286 | — | 5,229,863 |
United States | 28,443,237 | — | — | 28,443,237 |
Bonds | — | 39,073,087 | — | 39,073,087 |
Exchange-Traded Funds | 8,621,923 | — | — | 8,621,923 |
Short-Term Investments (a) | 40,771,919 | — | — | 40,771,919 |
Derivatives (b) | ||||
Futures Contracts | 145,916 | — | — | 145,916 |
Total | $84,600,476 | $105,448,572 | $— | $190,049,048 |
Liabilities | Level 1 | Level 2 | Level 3 | Total |
Derivatives (b) | ||||
Futures Contracts | $(18,435) | $— | $— | $(18,435) |
Forward Foreign Currency Contracts | — | (48,495) | — | (48,495) |
Total | $(18,435) | $(48,495) | $— | $(66,930) |
(a) | See Investment Portfolio for additional detailed categorizations. |
(b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts and forward foreign currency contracts. |
Primary Underlying Risk Disclosure | Forward Contracts | Futures Contracts |
Equity Contracts | $ — | $ 103,821 |
Interest Rate Contracts | $ — | $ 23,660 |
Foreign Exchange Contracts | $ (48,495) | $ — |