NPORT-EX 2 NPORT_5612112677509090.htm
Investment Portfolio as of November 30, 2020 (Unaudited)

 

 

DWS Multi-Asset Moderate Allocation Fund

 

 

  Shares   Value ($)
Equity - Equity Funds 48.7%
DWS Core Equity Fund "Institutional" (a)   280,510   8,746,302
DWS Emerging Markets Equity Fund "Institutional" (a)   11,404   265,719
DWS RREEF Global Infrastructure Fund "Institutional" (a)   37,769   600,152
DWS RREEF Real Estate Securities Fund "Institutional" (a)   70,526   1,418,285
DWS Small Cap Core Fund "S" (a)   25,545   824,315
Total Equity - Equity Funds (Cost $6,345,572)   11,854,773
Equity - Exchange-Traded Funds 16.0%
iShares Core MSCI Europe ETF     19,825   978,364
iShares MSCI Japan ETF     13,256   853,554
iShares MSCI Pacific ex Japan ETF     10,646   487,587
SPDR S&P Emerging Asia Pacific ETF     12,906   1,573,241
Total Equity - Exchange-Traded Funds (Cost $3,355,427)   3,892,746
Fixed Income - Bond Funds 15.0%
DWS Emerging Markets Fixed Income Fund "Institutional" (a)   51,486   480,877
DWS Enhanced Commodity Strategy Fund "Institutional" (a)   43,060   381,510
DWS GNMA Fund "Institutional" (a)   104,434   1,453,724
DWS High Income Fund "Institutional" (a)   280,045   1,347,019
Total Fixed Income - Bond Funds (Cost $3,447,524)   3,663,130
Fixed Income - Exchange-Traded Funds 17.2%
iShares iBoxx $ Investment Grade Corporate Bond ETF     14,230   1,970,570
iShares JP Morgan USD Emerging Markets Bond ETF     1,155   131,959
iShares U.S. Treasury Bond ETF     44,088   1,222,780
Vanguard Total International Bond ETF     14,534   850,530
Total Fixed Income - Exchange-Traded Funds (Cost $3,898,076)   4,175,839
  Principal
Amount ($)		   Value ($)
Short-Term U.S. Treasury Obligations 1.2%
U.S. Treasury Bills:  
  0.135% *, 6/17/2021 (b)   110,000   109,950
  0.155% *, 6/17/2021 (b)   185,000   184,916
Total Short-Term U.S. Treasury Obligations (Cost $294,761)   294,866
  Shares   Value ($)
Fixed Income - Money Market Fund 2.0%
DWS Central Cash Management Government Fund, 0.09% (a) (c) (Cost $489,384)     489,384   489,384
  % of
Net Assets		   Value ($)
Total Investment Portfolio (Cost $17,830,744) 100.1   24,370,738
Other Assets and Liabilities, Net (0.1)   (29,720)
Net Assets 100.0   24,341,018
                     

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 November 30, 2020 are as follows:

 

Value ($) at
          8/31/2020		   Purchases
Cost ($)		   Sales
Proceeds ($)		   Net
Realized
Gain/
(Loss) ($)		   Net
Change in
Unrealized
Appreci-
ation
(Deprecia-
tion) ($)		   Income ($)   Capital
Gain
Distribu-
tions ($)		   Number of Shares at 11/30/2020   Value ($) at
11/30/2020		  
Equity - Equity Funds 48.7%
DWS Core Equity Fund "Institutional" (a)  
8,653,359   193,638   435,800   115,761   219,344   26,248   —   280,510   8,746,302  
DWS Emerging Markets Equity Fund "Institutional" (a)  
240,402   —   —   —   25,317   —   —   11,404   265,719  
DWS RREEF Global Infrastructure Fund "Institutional" (a)  
582,232   251,657   266,400   12,391   20,272   3,327   —   37,769   600,152  
DWS RREEF Real Estate Securities Fund "Institutional" (a)  
1,683,168   8,462   320,950   (29,999)   77,604   8,462   —   70,526   1,418,285  
DWS Small Cap Core Fund "S" (a)  
503,657   214,420   —   —   106,238   —   —   25,544   824,315  
Fixed Income - Bond Funds 15.0%
DWS Emerging Markets Fixed Income Fund "Institutional" (a)  
469,972   5,594   —   —   5,311   5,595   —   51,486   480,877  
DWS Enhanced Commodity Strategy Fund "Institutional" (a)  
377,128   1,731   —   —   2,651   1,731   —   43,060   381,510  
DWS GNMA Fund "Institutional" (a)  
1,429,569   46,074   24,079   (23)   2,183   7,114   —   104,434   1,453,724  
DWS High Income Fund "Institutional" (a)  
1,332,587   268,387   269,270   4,316   10,999   13,687   —   280,045   1,347,019  
Fixed Income - Money Market Fund 2.0%  
DWS Central Cash Management Government Fund, 0.09% (a) (c)
983,823   1,474,716   1,969,155   —   —   181   —   489,384   489,384  
16,255,897   2,464,679   3,285,654   102,446   469,919   66,345   —   1,394,162   16,007,287  
                                     

* Annualized yield at time of purchase; not a coupon rate.
(a) Affiliated fund managed by DWS Investment Management Americas, Inc.
(b) At November 30, 2020, this security has been pledged, in whole or in part, to cover initial margin requirements for open futures contracts.
(c) The rate shown is the annualized seven-day yield at period end.
MSCI: Morgan Stanley Capital International
S&P: Standard & Poor's
SPDR: Standard & Poor's Depositary Receipt
At November 30, 2020, open futures contracts purchased were as follows:

 

Futures  Currency  Expiration
Date		  Contracts  Notional
Amount ($)		  Notional
Value ($)		  Unrealized
Appreciation ($)
Euro Stoxx 50 Index   

EUR

   12/18/2020   15    578,234    627,141   48,907
Russell E-Mini 2000 Index   

USD

   12/18/2020     1      86,388      91,005     4,617
S&P 500 E-Mini Index   

USD

   12/18/2020     1    176,825    181,160     4,335
Total unrealized appreciation                 57,859
                           

At November 30, 2020, open futures contracts sold were as follows:

 

Futures  Currency  Expiration
Date		  Contracts  Notional
Amount ($)		  Notional
Value ($)		  Unrealized
Depreciation ($)
10 Year U.S. Treasury Note   

USD

   3/22/2021     3    413,594    414,516      (922)

 

 

Currency Abbreviation
EUR Euro    
USD United States Dollar    

 

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 November 30, 2020 in valuing the Fund's investments.

 

Assets   Level 1   Level 2   Level 3   Total
Equity - Equity Funds $ 11,854,773 $ — $ — $ 11,854,773
Equity - Exchange-Traded Funds   3,892,746   —   —   3,892,746
Fixed Income - Bond Funds   3,663,130   —   —   3,663,130
Fixed Income - Exchange-Traded Funds   4,175,839   —   —   4,175,839
Short-Term U.S. Treasury Obligations   —   294,866   —   294,866
Fixed Income - Money Market Fund   489,384   —   —   489,384
Derivatives (d)                
  Futures Contracts   57,859   —   —   57,859
Total $ 24,133,731 $ 294,866 $ — $ 24,428,597
Liabilities   Level 1   Level 2   Level 3   Total
Derivatives (d)                
  Futures Contracts $ (922) $ — $ — $ (922)
Total $ (922) $ — $ — $ (922)

 

(d) Derivatives include unrealized appreciation (depreciation) on open futures contracts.

 

Derivatives

 

The following table presents, by major type of derivative contract, the unrealized appreciation (depreciation) of the Fund's derivative instruments as of November 30, 2020 categorized by the primary underlying risk exposure. 

 

 

 

Primary Underlying Risk Disclosure

 Futures
Equity Contracts $  57,859
Interest Rate Contracts $    (922)

 

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.

 

NO BANK GUARANTEE | NOT FDIC INSURED | MAY LOSE VALUE

 

DMAMAT-PH1

R-080548-1 (1/23)