Please wait
as
of
March
31,
2026
(Unaudited)
The
European
Equity
Fund,
Inc.
Shares
Value
($)
Common
Stocks
97.2%
France
20.8%
Aerospace
&
Defense
3.0%
Safran
SA
3,636
1,170,518
Thales
SA
3,971
1,153,455
2,323,973
Banks
2.4%
BNP
Paribas
SA
10,014
934,473
Societe
Generale
SA
13,454
957,385
1,891,858
Chemicals
1.7%
Air
Liquide
SA
6,282
1,287,806
Diversified
Telecommunication
Services
2.7%
Orange
SA
104,071
2,119,420
Electrical
Equipment
3.6%
Legrand
SA
6,058
919,270
Schneider
Electric
SE
7,028
1,855,174
2,774,444
Food
Products
1.8%
Danone
SA
17,960
1,428,680
Health
Care
Equipment
&
Supplies
1.0%
EssilorLuxottica
SA
3,431
784,315
Insurance
2.6%
AXA
SA
45,547
2,059,286
Multi-Utilities
1.0%
Veolia
Environnement
SA
21,548
810,870
Personal
Care
Products
1.0%
L'Oreal
SA
1,877
755,532
Total
France
(Cost
$15,581,483)
16,236,184
United
Kingdom
17.3%
Aerospace
&
Defense
1.7%
Rolls-Royce
Holdings
PLC
87,700
1,309,059
Banks
3.6%
HSBC
Holdings
PLC
173,040
2,787,331
Capital
Markets
1.6%
London
Stock
Exchange
Group
PLC
10,840
1,266,987
Shares
Value
($)
Electric
Utilities
2.7%
SSE
PLC
61,747
2,112,839
Hotels,
Restaurants
&
Leisure
1.2%
Compass
Group
PLC
35,074
964,319
Metals
&
Mining
1.1%
Anglo
American
PLC
19,510
817,826
Personal
Care
Products
0.7%
Unilever
PLC
9,666
535,187
Pharmaceuticals
3.7%
AstraZeneca
PLC
15,090
2,922,968
Professional
Services
1.0%
RELX
PLC
24,036
784,740
Total
United
Kingdom
(Cost
$9,801,287)
13,501,256
Germany
13.6%
Capital
Markets
1.0%
Deutsche
Boerse
AG
2,734
790,994
Diversified
Telecommunication
Services
1.7%
Deutsche
Telekom
AG
(Registered)
35,822
1,318,708
Electrical
Equipment
2.8%
Siemens
Energy
AG
13,373
2,191,841
Health
Care
Providers
&
Services
0.8%
Fresenius
SE
&
Co
KGaA
11,797
602,420
Independent
Power
&
Renewable
Electricity
Producers
1.2%
RWE
AG
14,531
965,714
Industrial
Conglomerates
1.5%
Siemens
AG
(Registered)
4,764
1,129,104
Insurance
2.1%
Hannover
Rueck
SE
2,245
692,715
Talanx
AG
7,979
970,824
1,663,539
Semiconductors
&
Semiconductor
Equipment
2.5%
Infineon
Technologies
AG
45,006
1,970,524
Total
Germany
(Cost
$9,593,635)
10,632,844
Italy
12.0%
Banks
4.1%
Intesa
Sanpaolo
SpA
221,863
1,319,309
UniCredit
SpA
26,900
1,886,306
3,205,615
Shares
Value
($)
Electric
Utilities
2.0%
Enel
SpA
148,428
1,603,301
Electrical
Equipment
1.6%
Prysmian
SpA
10,679
1,215,423
Insurance
2.1%
Generali
41,804
1,662,228
Oil,
Gas
&
Consumable
Fuels
2.2%
Eni
SpA
58,752
1,682,197
Total
Italy
(Cost
$8,025,818)
9,368,764
Switzerland
12.0%
Capital
Markets
1.0%
UBS
Group
AG
(Registered)
21,081
806,146
Electrical
Equipment
1.0%
ABB
Ltd.
(Registered)
9,481
746,115
Food
Products
0.7%
Aryzta
AG*
7,448
575,098
Life
Sciences
Tools
&
Services
1.3%
Lonza
Group
AG
(Registered)
1,622
1,018,897
Pharmaceuticals
8.0%
Novartis
AG
(Registered)
23,218
3,491,946
Roche
Holding
AG
4,552
1,782,621
Sandoz
Group
AG
11,862
911,349
6,185,916
Total
Switzerland
(Cost
$8,988,196)
9,332,172
Netherlands
11.3%
Aerospace
&
Defense
2.2%
Airbus
SE
9,497
1,759,764
Banks
2.5%
ABN
AMRO
Bank
NV
(CVA)
31,029
969,226
ING
Groep
NV
38,470
979,807
1,949,033
Beverages
0.8%
Heineken
NV
8,217
627,704
Semiconductors
&
Semiconductor
Equipment
5.3%
ASML
Holding
NV
3,208
4,136,851
Shares
Value
($)
Software
0.5%
Nebius
Group
NV
''
A
''
*
†
3,778
364,653
Total
Netherlands
(Cost
$6,207,609)
8,838,005
Spain
3.5%
Banks
2.5%
Banco
Santander
SA
179,939
1,967,521
Specialty
Retail
1.0%
Industria
de
Diseno
Textil
SA
13,589
770,963
Total
Spain
(Cost
$1,566,455)
2,738,484
Sweden
3.2%
Banks
0.7%
Swedbank
AB
''
A
''
16,566
554,524
Machinery
2.5%
Atlas
Copco
AB
''
A
''
50,143
858,709
Sandvik
AB
29,358
1,101,360
1,960,069
Total
Sweden
(Cost
$2,189,062)
2,514,593
Ireland
2.5%
Construction
Materials
1.0%
CRH
PLC
7,303
749,386
Passenger
Airlines
1.5%
Ryanair
Holdings
PLC
42,166
1,159,692
Total
Ireland
(Cost
$1,554,354)
1,909,078
Belgium
1.0%
Electric
Utilities
1.0%
Elia
Group
SA
''
B
''
(Cost
$824,889)*
5,268
799,998
Total
Common
Stocks
(Cost
$64,332,788)
75,871,378
Preferred
Stocks
1.0%
Germany
1.0%
Automobiles
1.0%
Volkswagen
AG
(Cost
$923,071)
7,943
790,726
Total
Preferred
Stocks
(Cost
$923,071)
790,726
Shares
Value
($)
Securities
Lending
Collateral
0.4%
DWS
Government
&
Agency
Securities
Portfolio
''
DWS
Government
Cash
Institutional
Shares
''
,
3.55%
(Cost
348,725)
(a)
(b)
348,725
348,725
Cash
Equivalents
3.7%
DWS
Central
Cash
Management
Government
Fund,
3.66%
(Cost
$2,882,896)
(b)
2,882,896
2,882,896
%
of
Net
Assets
Value
($)
Total
Investment
Portfolio
(Cost
$68,487,480)
102.3
79,893,725
Other
Assets
and
Liabilities,
Net
(2.3)
(1,772,716)
Net
Assets
100.0
78,121,009
For
information
on
the
Fund’s
policies
regarding
the
valuation
of
investments
and
other
significant
accounting
policies,
please
refer
to
the
Fund’s
most
recent
semi-annual
or
annual
financial
statements.
A
summary
of
the
Fund’s
transactions
with
affiliated
investments
during
the
period
ended
March
31,
2026
are
as
follows:
Net
Change
Value
($)
at
12/31/2025
Purchases
Cost
($)
Sales
Proceeds
($)
Net
Real-
ized
Gain/
(Loss)
($)
in
Unreal-
ized
Appreci
-
ation
/
(
Depreci
-
ation
)
($)
Income
($)
Capital
Gain
Distri
-
butions
($)
Number
of
Shares
at
3/31/2026
Value
($)
at
3/31/2026
Securities
Lending
Collateral
0.4%
DWS
Government
&
Agency
Securities
Portfolio
''
DWS
Government
Cash
Institutional
Shares
''
,
3.55%
(a)
(b)
–
348,725
(c)
–
–
–
4,874
–
348,725
348,725
Cash
Equivalents
3.7%
DWS
Central
Cash
Management
Government
Fund,
3.66%
(b)
367,369
13,079,417
10,563,890
–
–
14,207
–
2,882,896
2,882,896
367,369
13,428,142
10,563,890
–
–
19,081
–
3,231,621
3,231,621
(d)
See
Schedule
of
Investments
for
additional
detailed
categorizations.
*
Non-income
producing
security.
†
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
all
securities
loaned
at
March
31,
2026
amounted
to
$357,124,
which
is
0.5%
of
net
assets.
(a)
Affiliated
fund
managed
by
DWS
Investment
Management
Americas,
Inc.
The
rate
shown
is
the
annualized
seven-day
yield
at
period
end.
(b)
Represents
cash
collateral
held
in
connection
with
securities
lending.
Income
earned
by
the
Fund
is
net
of
borrower
rebates.
(c)
Represents
the
net
increase
(purchases
cost)
or
decrease
(sales
proceeds)
in
the
amount
invested
in
cash
collateral
for
the
period
ended
March
31,
2026.
CVA:
Credit
Valuation
Adjustment.
For
purposes
of
its
industry
concentration
policy,
the
Fund
classifies
issuers
of
portfolio
securities
at
the
industry
sub-group
level. Certain
of
the
categories
in
the
above
Schedule
of
Investments
consist
of
multiple
industry
sub-groups
or
industries.
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
associated
with
investing
in
those
securities.
The
following
is
a
summary
of
the
inputs
used
as
of
March
31,
2026
in
valuing
the
Fund’s
investments.
Assets
Level
1
Level
2
Level
3
Total
Common
Stocks
and/or
Other
Equity
Investments
(d)
France
$
16,236,184
$
—
$
—
$
16,236,184
United
Kingdom
13,501,256
—
—
13,501,256
Germany
11,423,570
—
—
11,423,570
Italy
9,368,764
—
—
9,368,764
Switzerland
9,332,172
—
—
9,332,172
Netherlands
8,838,005
—
—
8,838,005
Spain
2,738,484
—
—
2,738,484
Sweden
2,514,593
—
—
2,514,593
Ireland
1,909,078
—
—
1,909,078
Belgium
799,998
—
—
799,998
Short-Term
Instruments
(d)
3,231,621
—
—
3,231,621
Total
$
79,893,725
$
—
$
—
$
79,893,725
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.
EEA-PH1