Securities are listed in the country of domicile. For purposes of the Fund’s investment
objective policy to invest in German companies, non-Germany domiciled securities may
qualify as German companies as defined in the Fund’s Statement of Investment Objectives,
Policies and Investment Restrictions.
*
Non-income producing security.
†
All or a portion of these securities were on loan. The value of all securities loaned at
March 31, 2025 amounted to $15,143,479, which is 8.6% of net assets.
(a)
Represents cash collateral held in connection with securities lending. Income earned
by the Fund is net of borrower rebates.
(b)
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate
shown is the annualized seven-day yield at period end.
(c)
Represents the net increase (purchases cost) or decrease (sales proceeds) in the
amount invested in cash collateral for the period ended March 31, 2025.
144A:
Securities 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.
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, 2025 in valuing the Fund’s
investments.
Assets
Level 1
Level 2
Level 3
Total
Common Stocks and/or Other Equity Investments (d)
Germany
$
162,214,351
$
—
$
—
$
162,214,351
Netherlands
5,255,075
—
—
5,255,075
Luxembourg
1,966,151
—
—
1,966,151
Short-Term Instruments (d)
22,742,653
—
—
22,742,653
Total
$
192,178,230
$
—
$
—
$
192,178,230
(d) See Schedule of Investments for additional detailed categorizations.