UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM N-CSRS
Investment Company Act file number: 811-06071
Deutsche DWS Institutional Funds
(Exact Name of Registrant as Specified in Charter)
875 Third Avenue
New York, NY 10022-6225
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, including Area Code: (212) 454-4500
Diane Kenneally
100 Summer Street
Boston, MA 02110
(Name and Address of Agent for Service)
Date of fiscal year end: | 12/31 |
Date of reporting period: | 6/30/21 |
ITEM 1. | REPORT TO STOCKHOLDERS |
(a) | |
2 | | DWS Equity 500 Index Fund |
DWS Equity 500 Index Fund | | 3 |
4 | | DWS Equity 500 Index Fund |
Performance Summary | June 30, 2021 (Unaudited) |
Class R6 | 6-Month ‡ | 1-Year | Life of Class* |
Average Annual Total Returns as of 6/30/21 | |||
No Sales Charges | 15.14% | 40.54% | 17.13% |
S&P 500® Index† | 15.25% | 40.79% | 17.23% |
Class S | 6-Month ‡ | 1-Year | 5-Year | 10-Year |
Average Annual Total Returns as of 6/30/21 | ||||
No Sales Charges | 15.11% | 40.47% | 17.38% | 14.53% |
S&P 500® Index† | 15.25% | 40.79% | 17.65% | 14.84% |
Institutional Class | 6-Month ‡ | 1-Year | 5-Year | 10-Year |
Average Annual Total Returns as of 6/30/21 | ||||
No Sales Charges | 15.14% | 40.54% | 17.44% | 14.59% |
S&P 500® Index† | 15.25% | 40.79% | 17.65% | 14.84% |
DWS Equity 500 Index Fund | | 5 |
* | Class R6 shares commenced operations on March 31, 2017. |
† | The Standard & Poor’s 500 (S&P 500) Index is an unmanaged, capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. |
‡ | Total returns shown for periods less than one year are not annualized. |
Class R6 | Class S | Institutional Class | |
Net Asset Value | |||
6/30/21 | $217.09 | $212.41 | $217.13 |
12/31/20 | $192.26 | $188.17 | $192.30 |
Distribution Information as of 6/30/21 | |||
Income Dividends, Six Months | $ 1.40 | $ 1.32 | $ 1.40 |
Capital Gain Distributions | $ 2.76 | $ 2.76 | $ 2.76 |
6 | | DWS Equity 500 Index Fund |
Portfolio Summary | (Unaudited) |
Asset Allocation (As a % of Investment Portfolio excluding Securities Lending Collateral) | 6/30/21 | 12/31/20 |
Common Stocks | 99% | 98% |
Cash Equivalents | 1% | 2% |
Government & Agency Obligations | 0% | 0% |
100% | 100% |
Sector Diversification (As a % of Common Stocks) | 6/30/21 | 12/31/20 |
Information Technology | 27% | 28% |
Health Care | 13% | 13% |
Consumer Discretionary | 12% | 13% |
Financials | 11% | 10% |
Communication Services | 11% | 11% |
Industrials | 9% | 8% |
Consumer Staples | 6% | 7% |
Energy | 3% | 2% |
Materials | 3% | 3% |
Real Estate | 3% | 2% |
Utilities | 2% | 3% |
100% | 100% |
DWS Equity 500 Index Fund | | 7 |
Ten Largest Equity Holdings at June 30, 2021 (28.2% of Net Assets) | |
1 Apple, Inc. | 5.8% |
Designs, manufactures and markets personal computers and related computing and mobile-communication devices | |
2 Microsoft Corp. | 5.5% |
Develops, manufactures, licenses, sells and supports software products | |
3 Amazon.com, Inc. | 4.0% |
Online retailer offering a wide range of products | |
4 Alphabet, Inc. | 3.9% |
Holding company with subsidiaries that provide Web-based search, maps, hardware products and various software applications | |
5 Facebook, Inc. | 2.3% |
Operator of social networking Web site | |
6 Berkshire Hathaway, Inc. | 1.4% |
Holding company of insurance business and a variety of other businesses | |
7 Tesla, Inc. | 1.4% |
Designs, manufactures and sells high-perfomance electric vehicles and electric vehicle powertrain components | |
8 NVIDIA Corp. | 1.4% |
Designs, develops and markets three dimensional (3D) graphic processors | |
9 JPMorgan Chase & Co. | 1.3% |
Provider of global financial services | |
10 Johnson & Johnson | 1.2% |
Provider of health care products |
8 | | DWS Equity 500 Index Fund |
Assets | |
Investments in Deutsche DWS Equity 500 Index Portfolio, at value | $ 645,163,991 |
Receivable for Fund shares sold | 233,699 |
Other assets | 35,917 |
Total assets | 645,433,607 |
Liabilities | |
Payable for Fund shares redeemed | 83,445 |
Accrued Trustees' fees | 1,567 |
Other accrued expenses and payables | 175,256 |
Total liabilities | 260,268 |
Net assets, at value | $ 645,173,339 |
Net Assets Consist of | |
Distributable earnings (loss) | 572,064,953 |
Paid-in capital | 73,108,386 |
Net assets, at value | $ 645,173,339 |
Net Asset Value | |
Class R6 | |
Net Asset Value, offering and redemption price per share ($8,140,530 ÷ 37,498 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $ 217.09 |
Class S | |
Net Asset Value, offering and redemption price per share ($319,333,604 ÷ 1,503,380 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $ 212.41 |
Institutional Class | |
Net Asset Value, offering and redemption price per share ($317,699,205 ÷ 1,463,186 outstanding shares of beneficial interest, $.01 par value, unlimited number of shares authorized) | $ 217.13 |
DWS Equity 500 Index Fund | | 9 |
Investment Income | |
Income and expenses allocated from Deutsche DWS Equity 500 Index Portfolio: | |
Dividends (net of foreign taxes withheld of $22,264) | $ 4,429,400 |
Interest | 220 |
Income distributions — DWS Central Cash Management Government Fund | 860 |
Securities lending income, net of borrower rebates | 5,190 |
Expenses | (296,076) |
Net investment income allocated from Deutsche DWS Equity 500 Index Portfolio | 4,139,594 |
Expenses: | |
Administration fee | 297,465 |
Services to shareholders | 281,869 |
Professional fees | 26,544 |
Reports to shareholders | 24,043 |
Registration fees | 26,807 |
Trustees' fees and expenses | 1,928 |
Other | 4,468 |
Total expenses before expense reductions | 663,124 |
Expense reductions | (267,852) |
Total expenses after expense reductions | 395,272 |
Net investment income | 3,744,322 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) allocated from Deutsche DWS Equity 500 Index Portfolio: | |
Investments | 20,311,785 |
Futures | 1,477,459 |
21,789,244 | |
Change in net unrealized appreciation (depreciation) allocated from Deutsche DWS Equity 500 Index Portfolio: | |
Investments | 61,671,553 |
Futures | (11,030) |
61,660,523 | |
Net gain (loss) | 83,449,767 |
Net increase (decrease) in net assets resulting from operations | $ 87,194,089 |
10 | | DWS Equity 500 Index Fund |
Six Months Ended June 30, 2021 | Year Ended December 31, | |
Increase (Decrease) in Net Assets | (Unaudited) | 2020 |
Operations: | ||
Net investment income | $ 3,744,322 | $ 9,315,235 |
Net realized gain (loss) | 21,789,244 | 54,515,314 |
Change in net unrealized appreciation (depreciation) | 61,660,523 | 31,272,400 |
Net increase (decrease) in net assets resulting from operations | 87,194,089 | 95,102,949 |
Distributions to shareholders: | ||
Class R6 | (153,489) | (1,247,845) |
Class S | (6,077,491) | (59,674,017) |
Institutional Class | (6,008,584) | (49,870,833) |
Total distributions | (12,239,564) | (110,792,695) |
Fund share transactions: | ||
Proceeds from shares sold | 39,292,488 | 108,706,287 |
Reinvestment of distributions | 11,670,135 | 105,844,743 |
Payments for shares redeemed | (91,811,192) | (215,549,274) |
Net increase (decrease) in net assets from Fund share transactions | (40,848,569) | (998,244) |
Increase (decrease) in net assets | 34,105,956 | (16,687,990) |
Net assets at beginning of period | 611,067,383 | 627,755,373 |
Net assets at end of period | $645,173,339 | $ 611,067,383 |
DWS Equity 500 Index Fund | | 11 |
DWS Equity 500 Index Fund — Class R6 | |||||
Six Months Ended 6/30/21 | Years Ended December 31, | Period Ended | |||
(Unaudited) | 2020 | 2019 | 2018 | 12/31/17 a | |
Selected Per Share Data | |||||
Net asset value, beginning of period | $192.26 | $198.17 | $172.91 | $220.83 | $221.70 |
Income (loss) from investment operations: | |||||
Net investment incomeb | 1.28 | 3.17 | 3.55 | 4.09 | 3.10 |
Net realized and unrealized gain (loss) | 27.71 | 29.98 | 49.27 | (12.67) c | 28.65 |
Total from investment operations | 28.99 | 33.15 | 52.82 | (8.58) | 31.75 |
Less distributions from: | |||||
Net investment income | (1.40) | (3.20) | (3.44) | (3.78) | (3.08) |
Net realized gains | (2.76) | (35.86) | (24.12) | (35.56) | (29.54) |
Total distributions | (4.16) | (39.06) | (27.56) | (39.34) | (32.62) |
Net asset value, end of period | $217.09 | $192.26 | $198.17 | $172.91 | $220.83 |
Total Return (%) | 15.14 d* | 18.05 d | 31.21 d | (4.23) c | 14.62 d* |
Ratios to Average Net Assets and Supplemental Data | |||||
Net assets, end of period ($ millions) | 8 | 7 | 5 | 4 | .01 |
Ratio of expenses before expense reductions, including expenses allocated from Deutsche DWS Equity 500 Index Portfolio (%) | .22 ** | .23 | .24 | .23 | .43 ** |
Ratio of expenses after expense reductions, including expenses allocated from Deutsche DWS Equity 500 Index Portfolio (%) | .20 ** | .20 | .23 | .23 | .24 ** |
Ratio of net investment income (%) | 1.25 ** | 1.64 | 1.80 | 1.82 | 1.80 ** |
Portfolio turnover rate for Deutsche DWS Equity 500 Index Portfolio (%) | 1 * | 4 | 3 | 3 | 6 e |
a | For the period from March 31, 2017 (commencement of operations) to December 31, 2017. |
b | Based on average shares outstanding during the period. |
c | Includes a reimbursement from the sub-advisor to reimburse the effect of a loss incurred as a result of an operational error. The impact of this reimbursement amounted to $0.62 per share. Excluding this reimbursement, total return would have been .30% lower. |
d | Total return would have been lower had certain expenses not been reduced. |
e | Represents the Deutsche DWS Equity 500 Index Portfolio’s turnover rate for the year ended December 31, 2017. |
* | Not annualized |
** | Annualized |
12 | | DWS Equity 500 Index Fund |
DWS Equity 500 Index Fund — Class S | ||||||
Six Months Ended 6/30/21 | Years Ended December 31, | |||||
(Unaudited) | 2020 | 2019 | 2018 | 2017 | 2016 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $188.17 | $194.65 | $170.17 | $217.91 | $207.59 | $207.73 |
Income (loss) from investment operations: | ||||||
Net investment incomea | 1.19 | 3.03 | 3.40 | 3.80 | 3.90 | 4.10 |
Net realized and unrealized gain (loss) | 27.13 | 29.40 | 48.47 | (12.38) b | 39.77 | 19.82 |
Total from investment operations | 28.32 | 32.43 | 51.87 | (8.58) | 43.67 | 23.92 |
Less distributions from: | ||||||
Net investment income | (1.32) | (3.05) | (3.27) | (3.60) | (3.81) | (4.06) |
Net realized gains | (2.76) | (35.86) | (24.12) | (35.56) | (29.54) | (20.00) |
Total distributions | (4.08) | (38.91) | (27.39) | (39.16) | (33.35) | (24.06) |
Net asset value, end of period | $212.41 | $188.17 | $194.65 | $170.17 | $217.91 | $207.59 |
Total Return (%)c | 15.11 * | 17.99 | 31.14 | (4.27) b | 21.42 | 11.55 |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 319 | 325 | 331 | 329 | 409 | 416 |
Ratio of expenses before expense reductions, including expenses allocated from Deutsche DWS Equity 500 Index Portfolio (%) | .35 ** | .36 | .39 | .34 | .37 | .36 |
Ratio of expenses after expense reductions, including expenses allocated from Deutsche DWS Equity 500 Index Portfolio (%) | .25 ** | .25 | .28 | .29 | .29 | .30 |
Ratio of net investment income (%) | 1.20 ** | 1.61 | 1.75 | 1.71 | 1.75 | 1.94 |
Portfolio turnover rate for Deutsche DWS Equity 500 Index Portfolio (%) | 1 * | 4 | 3 | 3 | 6 | 3 |
a | Based on average shares outstanding during the period. |
b | Includes a reimbursement from the sub-advisor to reimburse the effect of a loss incurred as a result of an operational error. The impact of this reimbursement amounted to $0.62 per share. Excluding this reimbursement, total return would have been .30% lower. |
c | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
DWS Equity 500 Index Fund | | 13 |
DWS Equity 500 Index Fund — Institutional Class | ||||||
Six Months Ended 6/30/21 | Years Ended December 31, | |||||
(Unaudited) | 2020 | 2019 | 2018 | 2017 | 2016 | |
Selected Per Share Data | ||||||
Net asset value, beginning of period | $192.30 | $198.20 | $172.92 | $220.85 | $210.06 | $209.98 |
Income (loss) from investment operations: | ||||||
Net investment incomea | 1.27 | 3.19 | 3.56 | 3.94 | 4.06 | 4.26 |
Net realized and unrealized gain (loss) | 27.72 | 29.97 | 49.27 | (12.55) b | 40.24 | 20.03 |
Total from investment operations | 28.99 | 33.16 | 52.83 | (8.61) | 44.30 | 24.29 |
Less distributions from: | ||||||
Net investment income | (1.40) | (3.20) | (3.43) | (3.76) | (3.97) | (4.21) |
Net realized gains | (2.76) | (35.86) | (24.12) | (35.56) | (29.54) | (20.00) |
Total distributions | (4.16) | (39.06) | (27.55) | (39.32) | (33.51) | (24.21) |
Net asset value, end of period | $217.13 | $192.30 | $198.20 | $172.92 | $220.85 | $210.06 |
Total Return (%)c | 15.14 * | 18.05 | 31.21 | (4.23) b | 21.48 | 11.60 |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 318 | 279 | 291 | 217 | 335 | 374 |
Ratio of expenses before expense reductions, including expenses allocated from Deutsche DWS Equity 500 Index Portfolio (%) | .27 ** | .29 | .27 | .33 | .30 | .28 |
Ratio of expenses after expense reductions, including expenses allocated from Deutsche DWS Equity 500 Index Portfolio (%) | .20 ** | .20 | .23 | .24 | .24 | .25 |
Ratio of net investment income (%) | 1.25 ** | 1.66 | 1.80 | 1.75 | 1.80 | 1.99 |
Portfolio turnover rate for Deutsche DWS Equity 500 Index Portfolio (%) | 1 * | 4 | 3 | 3 | 6 | 3 |
a | Based on average shares outstanding during the period. |
b | Includes a reimbursement from the sub-advisor to reimburse the effect of a loss incurred as a result of an operational error. The impact of this reimbursement amounted to $0.62 per share. Excluding this reimbursement, total return would have been .30% lower. |
c | Total return would have been lower had certain expenses not been reduced. |
* | Not annualized |
** | Annualized |
14 | | DWS Equity 500 Index Fund |
Notes to Financial Statements | (Unaudited) |
A. | Organization and Significant Accounting Policies |
DWS Equity 500 Index Fund | | 15 |
16 | | DWS Equity 500 Index Fund |
B. | Related Parties |
Class R6 | .20% |
Class S | .25% |
Institutional Class | .20% |
DWS Equity 500 Index Fund | | 17 |
Class R6 | $ 928 |
Class S | 157,249 |
Institutional Class | 109,675 |
$ 267,852 |
Services to Shareholders | Total Aggregated | Unpaid at June 30, 2021 |
Class R6 | $ 63 | $ 16 |
Class S | 11,283 | 3,577 |
Institutional Class | 783 | 288 |
$ 12,129 | $ 3,881 |
Sub-Recordkeeping | Total Aggregated |
Class S | $ 188,459 |
Institutional Class | 75,554 |
$ 264,013 |
18 | | DWS Equity 500 Index Fund |
C. | Fund Share Transactions |
Six Months Ended June 30, 2021 | Year Ended December 31, 2020 | |||
Shares | Dollars | Shares | Dollars | |
Shares sold | ||||
Class R6 | 2,431 | $ 501,970 | 8,132 | $ 1,540,378 |
Class S | 56,890 | 11,415,975 | 247,055 | 43,226,674 |
Institutional Class | 132,336 | 27,374,543 | 339,951 | 63,939,235 |
$ 39,292,488 | $ 108,706,287 | |||
Shares issued to shareholders in reinvestment of distributions | ||||
Class R6 | 701 | $ 148,245 | 6,448 | $ 1,209,076 |
Class S | 28,964 | 5,995,012 | 321,874 | 59,037,021 |
Institutional Class | 26,123 | 5,526,878 | 243,528 | 45,598,646 |
$ 11,670,135 | $ 105,844,743 | |||
Shares redeemed | ||||
Class R6 | (2,991) | $ (621,817) | (4,388) | $ (872,405) |
Class S | (310,211) | (61,424,446) | (543,819) | (101,708,742) |
Institutional Class | (144,974) | (29,764,929) | (601,766) | (112,968,127) |
$ (91,811,192) | $ (215,549,274) | |||
Net increase (decrease) | ||||
Class R6 | 141 | $ 28,398 | 10,192 | $ 1,877,049 |
Class S | (224,357) | (44,013,459) | 25,110 | 554,953 |
Institutional Class | 13,485 | 3,136,492 | (18,287) | (3,430,246) |
$ (40,848,569) | $ (998,244) |
D. | Other — COVID-19 Pandemic |
DWS Equity 500 Index Fund | | 19 |
20 | | DWS Equity 500 Index Fund |
— | Actual Fund Return. This helps you estimate the actual dollar amount of ongoing expenses (but not transaction costs) paid on a $1,000 investment in the Fund using the Fund’s actual return during the period. To estimate the expenses you paid over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the “Expenses Paid per $1,000” line under the share class you hold. |
— | Hypothetical 5% Fund Return. This helps you to compare your Fund’s ongoing expenses (but not transaction costs) with those of other mutual funds using the Fund’s actual expense ratio and a hypothetical rate of return of 5% per year before expenses. Examples using a 5% hypothetical fund return may be found in the shareholder reports of other mutual funds. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. |
DWS Equity 500 Index Fund | | 21 |
Actual Fund Return* | Class R6 | Class S | Institutional Class |
Beginning Account Value 1/1/21 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value 6/30/21 | $1,151.40 | $1,151.10 | $1,151.40 |
Expenses Paid per $1,000** | $ 1.07 | $ 1.33 | $ 1.07 |
Hypothetical 5% Fund Return | Class R6 | Class S | Institutional Class |
Beginning Account Value 1/1/21 | $1,000.00 | $1,000.00 | $1,000.00 |
Ending Account Value 6/30/21 | $1,023.80 | $1,023.55 | $1,023.80 |
Expenses Paid per $1,000** | $ 1.00 | $ 1.25 | $ 1.00 |
* | Expenses include amounts allocated proportionally from the master portfolio. |
** | Expenses are equal to the Fund’s annualized expense ratio for each share class, multiplied by the average account value over the period, multiplied by 181 (the number of days in the most recent six-month period), then divided by 365. |
Annualized Expense Ratios | Class R6 | Class S | Institutional Class |
DWS Equity 500 Index Fund | .20% | .25% | .20% |
22 | | DWS Equity 500 Index Fund |
Deutsche DWS Equity 500 Index Portfolio | | 23 |
Investment Portfolio | as of June 30, 2021 (Unaudited) |
Shares | Value ($) | ||
Common Stocks 98.5% | |||
Communication Services 11.0% | |||
Diversified Telecommunication Services 1.2% | |||
AT&T, Inc. (a) | 366,684 | 10,553,166 | |
Lumen Technologies, Inc. | 51,573 | 700,877 | |
Verizon Communications, Inc. | 212,640 | 11,914,219 | |
23,168,262 | |||
Entertainment 1.9% | |||
Activision Blizzard, Inc. | 39,809 | 3,799,371 | |
Electronic Arts, Inc. | 14,680 | 2,111,424 | |
Live Nation Entertainment, Inc.* (a) | 7,307 | 640,020 | |
Netflix, Inc.* | 22,774 | 12,029,454 | |
Take-Two Interactive Software, Inc.* | 5,981 | 1,058,757 | |
Walt Disney Co.* | 93,315 | 16,401,978 | |
36,041,004 | |||
Interactive Media & Services 6.4% | |||
Alphabet, Inc. “A” * | 15,442 | 37,706,121 | |
Alphabet, Inc. “C” * (a) | 14,635 | 36,679,993 | |
Facebook, Inc. “A” * | 123,086 | 42,798,233 | |
Twitter, Inc.* | 40,914 | 2,815,293 | |
119,999,640 | |||
Media 1.3% | |||
Charter Communications, Inc. “A” * (a) | 7,069 | 5,099,930 | |
Comcast Corp. “A” | 235,802 | 13,445,430 | |
Discovery, Inc. “A” * (a) | 8,658 | 265,627 | |
Discovery, Inc. “C” * (a) | 15,502 | 449,248 | |
DISH Network Corp. “A” * | 13,008 | 543,734 | |
Fox Corp. “A” | 16,794 | 623,561 | |
Fox Corp. “B” | 7,728 | 272,026 | |
Interpublic Group of Companies, Inc. | 20,462 | 664,810 | |
News Corp. “A” (a) | 19,680 | 507,154 | |
News Corp. “B” | 5,883 | 143,251 | |
Omnicom Group, Inc. (a) | 11,007 | 880,450 | |
ViacomCBS, Inc. “B” | 31,098 | 1,405,630 | |
24,300,851 | |||
Wireless Telecommunication Services 0.2% | |||
T-Mobile U.S., Inc.* (a) | 30,049 | 4,351,997 |
24 | | Deutsche DWS Equity 500 Index Portfolio |
Shares | Value ($) | ||
Consumer Discretionary 12.1% | |||
Auto Components 0.2% | |||
Aptiv PLC* | 13,836 | 2,176,818 | |
BorgWarner, Inc. (a) | 12,199 | 592,139 | |
2,768,957 | |||
Automobiles 1.8% | |||
Ford Motor Co.* | 201,713 | 2,997,455 | |
General Motors Co.* | 65,842 | 3,895,871 | |
Tesla, Inc.* (a) | 39,605 | 26,919,519 | |
33,812,845 | |||
Distributors 0.1% | |||
Genuine Parts Co. | 7,492 | 947,513 | |
LKQ Corp.* | 14,138 | 695,872 | |
Pool Corp. | 2,040 | 935,667 | |
2,579,052 | |||
Hotels, Restaurants & Leisure 1.7% | |||
Caesars Entertainment, Inc.* | 10,590 | 1,098,712 | |
Carnival Corp.* | 41,621 | 1,097,130 | |
Chipotle Mexican Grill, Inc.* (a) | 1,449 | 2,246,443 | |
Darden Restaurants, Inc. | 6,784 | 990,396 | |
Domino’s Pizza, Inc. (a) | 1,995 | 930,648 | |
Hilton Worldwide Holdings, Inc.* | 14,174 | 1,709,668 | |
Las Vegas Sands Corp.* | 17,068 | 899,313 | |
Marriott International, Inc. “A” * | 13,621 | 1,859,539 | |
McDonald’s Corp. | 38,307 | 8,848,534 | |
MGM Resorts International | 20,942 | 893,176 | |
Norwegian Cruise Line Holdings Ltd.* (a) | 19,093 | 561,525 | |
Penn National Gaming, Inc.* | 7,507 | 574,210 | |
Royal Caribbean Cruises Ltd.* (a) | 11,432 | 974,921 | |
Starbucks Corp. | 60,489 | 6,763,275 | |
Wynn Resorts Ltd.* | 5,313 | 649,780 | |
Yum! Brands, Inc. | 15,227 | 1,751,562 | |
31,848,832 | |||
Household Durables 0.4% | |||
D.R. Horton, Inc. | 16,711 | 1,510,173 | |
Garmin Ltd. | 7,742 | 1,119,803 | |
Leggett & Platt, Inc. | 6,919 | 358,473 | |
Lennar Corp. “A” | 14,149 | 1,405,703 | |
Mohawk Industries, Inc.* | 3,098 | 595,405 | |
Newell Brands, Inc. | 19,210 | 527,699 |
Deutsche DWS Equity 500 Index Portfolio | | 25 |
Shares | Value ($) | ||
NVR, Inc.* | 175 | 870,327 | |
PulteGroup, Inc. | 13,917 | 759,451 | |
Whirlpool Corp. | 3,195 | 696,574 | |
7,843,608 | |||
Internet & Direct Marketing Retail 4.5% | |||
Amazon.com, Inc.* | 22,022 | 75,759,203 | |
Booking Holdings, Inc.* | 2,108 | 4,612,494 | |
eBay, Inc. | 33,030 | 2,319,036 | |
Etsy, Inc.* | 6,565 | 1,351,340 | |
Expedia Group, Inc.* (a) | 7,254 | 1,187,552 | |
85,229,625 | |||
Leisure Products 0.0% | |||
Hasbro, Inc. | 6,513 | 615,609 | |
Multiline Retail 0.5% | |||
Dollar General Corp. | 12,130 | 2,624,811 | |
Dollar Tree, Inc.* | 11,895 | 1,183,553 | |
Target Corp. | 25,418 | 6,144,547 | |
9,952,911 | |||
Specialty Retail 2.2% | |||
Advance Auto Parts, Inc. | 3,349 | 687,014 | |
AutoZone, Inc.* | 1,108 | 1,653,380 | |
Best Buy Co., Inc. | 11,444 | 1,315,831 | |
CarMax, Inc.* (a) | 8,369 | 1,080,857 | |
Home Depot, Inc. | 54,612 | 17,415,221 | |
L Brands, Inc. | 12,021 | 866,233 | |
Lowe’s Companies, Inc. | 36,298 | 7,040,723 | |
O’Reilly Automotive, Inc.* | 3,577 | 2,025,333 | |
Ross Stores, Inc. | 18,277 | 2,266,348 | |
The Gap, Inc. (a) | 10,491 | 353,022 | |
TJX Companies, Inc. | 61,853 | 4,170,129 | |
Tractor Supply Co. | 6,005 | 1,117,290 | |
Ulta Beauty, Inc.* | 2,805 | 969,885 | |
40,961,266 | |||
Textiles, Apparel & Luxury Goods 0.7% | |||
Hanesbrands, Inc. | 18,416 | 343,827 | |
NIKE, Inc. “B” | 65,425 | 10,107,508 | |
PVH Corp.* | 3,737 | 402,064 | |
Ralph Lauren Corp. | 2,550 | 300,416 | |
Tapestry, Inc.* | 14,159 | 615,633 | |
Under Armour, Inc. “A” * | 9,570 | 202,405 |
26 | | Deutsche DWS Equity 500 Index Portfolio |
Shares | Value ($) | ||
Under Armour, Inc. “C” * (a) | 10,698 | 198,662 | |
VF Corp. | 16,601 | 1,361,946 | |
13,532,461 | |||
Consumer Staples 5.8% | |||
Beverages 1.4% | |||
Brown-Forman Corp. “B” | 9,505 | 712,305 | |
Coca-Cola Co. | 199,034 | 10,769,730 | |
Constellation Brands, Inc. “A” | 8,737 | 2,043,497 | |
Molson Coors Beverage Co. “B” * (a) | 9,788 | 525,518 | |
Monster Beverage Corp.* | 19,135 | 1,747,982 | |
PepsiCo, Inc. | 71,091 | 10,533,553 | |
26,332,585 | |||
Food & Staples Retailing 1.3% | |||
Costco Wholesale Corp. (a) | 22,698 | 8,980,918 | |
Kroger Co. | 39,037 | 1,495,507 | |
Sysco Corp. (a) | 26,174 | 2,035,029 | |
Walgreens Boots Alliance, Inc. (a) | 36,815 | 1,936,837 | |
Walmart, Inc. | 70,505 | 9,942,615 | |
24,390,906 | |||
Food Products 0.9% | |||
Archer-Daniels-Midland Co. | 28,805 | 1,745,583 | |
Campbell Soup Co. | 10,294 | 469,304 | |
Conagra Brands, Inc. (a) | 24,609 | 895,275 | |
General Mills, Inc. | 31,471 | 1,917,528 | |
Hormel Foods Corp. (a) | 14,403 | 687,743 | |
J M Smucker Co. (a) | 5,509 | 713,801 | |
Kellogg Co. | 12,995 | 835,968 | |
Kraft Heinz Co. | 33,199 | 1,353,855 | |
Lamb Weston Holdings, Inc. | 7,479 | 603,256 | |
McCormick & Co., Inc. (a) | 12,986 | 1,146,924 | |
Mondelez International, Inc. “A” | 72,089 | 4,501,237 | |
The Hershey Co. | 7,505 | 1,307,221 | |
Tyson Foods, Inc. “A” | 15,243 | 1,124,324 | |
17,302,019 | |||
Household Products 1.3% | |||
Church & Dwight Co., Inc. | 12,553 | 1,069,767 | |
Clorox Co. (a) | 6,380 | 1,147,826 | |
Colgate-Palmolive Co. | 43,677 | 3,553,124 |
Deutsche DWS Equity 500 Index Portfolio | | 27 |
Shares | Value ($) | ||
Kimberly-Clark Corp. | 17,307 | 2,315,330 | |
Procter & Gamble Co. (a) | 125,769 | 16,970,011 | |
25,056,058 | |||
Personal Products 0.2% | |||
Estee Lauder Companies, Inc. “A” | 11,911 | 3,788,651 | |
Tobacco 0.7% | |||
Altria Group, Inc. | 94,975 | 4,528,408 | |
Philip Morris International, Inc. | 79,991 | 7,927,908 | |
12,456,316 | |||
Energy 2.8% | |||
Energy Equipment & Services 0.2% | |||
Baker Hughes Co. (a) | 37,713 | 862,496 | |
Halliburton Co. | 45,759 | 1,057,948 | |
NOV, Inc.* (a) | 19,464 | 298,189 | |
Schlumberger NV | 71,543 | 2,290,091 | |
4,508,724 | |||
Oil, Gas & Consumable Fuels 2.6% | |||
APA Corp. | 19,850 | 429,356 | |
Cabot Oil & Gas Corp. (a) | 20,100 | 350,946 | |
Chevron Corp. | 99,277 | 10,398,273 | |
ConocoPhillips | 69,496 | 4,232,306 | |
Devon Energy Corp. | 30,064 | 877,568 | |
Diamondback Energy, Inc. | 9,316 | 874,679 | |
EOG Resources, Inc. | 29,962 | 2,500,029 | |
Exxon Mobil Corp. | 217,487 | 13,719,080 | |
Hess Corp. (a) | 13,954 | 1,218,463 | |
Kinder Morgan, Inc. (a) | 99,321 | 1,810,622 | |
Marathon Oil Corp. | 39,685 | 540,510 | |
Marathon Petroleum Corp. | 32,727 | 1,977,365 | |
Occidental Petroleum Corp. (a) | 43,722 | 1,367,187 | |
ONEOK, Inc. | 22,866 | 1,272,264 | |
Phillips 66 | 22,631 | 1,942,193 | |
Pioneer Natural Resources Co. (a) | 11,945 | 1,941,301 | |
Valero Energy Corp. | 20,911 | 1,632,731 | |
Williams Companies, Inc. | 62,699 | 1,664,659 | |
48,749,532 | |||
Financials 11.1% | |||
Banks 4.2% | |||
Bank of America Corp. | 387,543 | 15,978,398 | |
Citigroup, Inc. | 106,187 | 7,512,730 |
28 | | Deutsche DWS Equity 500 Index Portfolio |
Shares | Value ($) | ||
Citizens Financial Group, Inc. | 21,652 | 993,177 | |
Comerica, Inc. | 7,207 | 514,147 | |
Fifth Third Bancorp. | 36,134 | 1,381,403 | |
First Republic Bank | 8,973 | 1,679,477 | |
Huntington Bancshares, Inc. | 75,357 | 1,075,345 | |
JPMorgan Chase & Co. | 155,569 | 24,197,202 | |
KeyCorp. | 49,674 | 1,025,768 | |
M&T Bank Corp. (a) | 6,527 | 948,438 | |
People’s United Financial, Inc. | 22,417 | 384,227 | |
PNC Financial Services Group, Inc. | 21,842 | 4,166,580 | |
Regions Financial Corp. | 48,811 | 985,006 | |
SVB Financial Group* | 2,765 | 1,538,529 | |
Truist Financial Corp. | 69,067 | 3,833,219 | |
U.S. Bancorp. | 69,658 | 3,968,416 | |
Wells Fargo & Co. | 212,721 | 9,634,134 | |
Zions Bancorp. NA | 8,256 | 436,412 | |
80,252,608 | |||
Capital Markets 3.0% | |||
Ameriprise Financial, Inc. | 5,983 | 1,489,049 | |
Bank of New York Mellon Corp. | 41,426 | 2,122,254 | |
BlackRock, Inc. | 7,288 | 6,376,781 | |
Cboe Global Markets, Inc. (a) | 5,467 | 650,846 | |
Charles Schwab Corp. (a) | 77,210 | 5,621,660 | |
CME Group, Inc. | 18,440 | 3,921,819 | |
Franklin Resources., Inc. | 14,253 | 455,954 | |
Intercontinental Exchange, Inc. | 28,885 | 3,428,650 | |
Invesco Ltd. | 19,569 | 523,079 | |
MarketAxess Holdings, Inc. | 1,935 | 897,047 | |
Moody’s Corp. | 8,265 | 2,994,988 | |
Morgan Stanley | 76,467 | 7,011,259 | |
MSCI, Inc. | 4,234 | 2,257,061 | |
Nasdaq, Inc. | 5,901 | 1,037,396 | |
Northern Trust Corp. | 10,676 | 1,234,359 | |
Raymond James Financial, Inc. | 6,345 | 824,216 | |
S&P Global, Inc. | 12,374 | 5,078,908 | |
State Street Corp. | 17,841 | 1,467,958 | |
T. Rowe Price Group, Inc. | 11,636 | 2,303,579 | |
The Goldman Sachs Group, Inc. | 17,478 | 6,633,425 | |
56,330,288 | |||
Consumer Finance 0.7% | |||
American Express Co. | 33,411 | 5,520,500 | |
Capital One Financial Corp. | 23,187 | 3,586,797 |
Deutsche DWS Equity 500 Index Portfolio | | 29 |
Shares | Value ($) | ||
Discover Financial Services | 15,811 | 1,870,283 | |
Synchrony Financial | 27,767 | 1,347,255 | |
12,324,835 | |||
Diversified Financial Services 1.4% | |||
Berkshire Hathaway, Inc. “B” * | 97,357 | 27,057,457 | |
Insurance 1.8% | |||
Aflac, Inc. | 32,687 | 1,753,984 | |
Allstate Corp. | 15,385 | 2,006,819 | |
American International Group, Inc. | 44,021 | 2,095,400 | |
Aon PLC “A” (a) | 11,553 | 2,758,394 | |
Arthur J. Gallagher & Co. | 10,494 | 1,470,000 | |
Assurant, Inc. | 3,154 | 492,592 | |
Chubb Ltd. | 23,055 | 3,664,362 | |
Cincinnati Financial Corp. (a) | 7,699 | 897,857 | |
Everest Re Group Ltd. | 2,023 | 509,816 | |
Globe Life, Inc. | 4,824 | 459,486 | |
Hartford Financial Services Group, Inc. (a) | 18,239 | 1,130,271 | |
Lincoln National Corp. (a) | 9,443 | 593,398 | |
Loews Corp. | 11,259 | 615,304 | |
Marsh & McLennan Companies, Inc. | 26,204 | 3,686,379 | |
MetLife, Inc. | 38,179 | 2,285,013 | |
Principal Financial Group, Inc. (a) | 13,257 | 837,710 | |
Progressive Corp. | 30,249 | 2,970,754 | |
Prudential Financial, Inc. | 20,104 | 2,060,057 | |
Travelers Companies, Inc. | 12,915 | 1,933,505 | |
Unum Group | 10,482 | 297,689 | |
W.R. Berkley Corp. | 7,139 | 531,356 | |
Willis Towers Watson PLC | 6,619 | 1,522,502 | |
34,572,648 | |||
Health Care 12.8% | |||
Biotechnology 1.7% | |||
AbbVie, Inc. | 90,714 | 10,218,025 | |
Alexion Pharmaceuticals, Inc.* | 11,298 | 2,075,556 | |
Amgen, Inc. | 29,520 | 7,195,500 | |
Biogen, Inc.* | 7,734 | 2,678,052 | |
Gilead Sciences, Inc. | 64,426 | 4,436,374 | |
Incyte Corp.* | 9,706 | 816,566 | |
Regeneron Pharmaceuticals, Inc.* | 5,379 | 3,004,387 | |
Vertex Pharmaceuticals, Inc.* | 13,291 | 2,679,864 | |
33,104,324 |
30 | | Deutsche DWS Equity 500 Index Portfolio |
Shares | Value ($) | ||
Health Care Equipment & Supplies 3.6% | |||
Abbott Laboratories | 91,286 | 10,582,786 | |
ABIOMED, Inc.* | 2,371 | 740,013 | |
Align Technology, Inc.* | 3,687 | 2,252,757 | |
Baxter International, Inc. | 25,945 | 2,088,573 | |
Becton, Dickinson & Co. | 15,010 | 3,650,282 | |
Boston Scientific Corp.* (a) | 72,886 | 3,116,605 | |
Danaher Corp. | 32,564 | 8,738,875 | |
DENTSPLY SIRONA, Inc. | 11,385 | 720,215 | |
DexCom, Inc.* (a) | 4,981 | 2,126,887 | |
Edwards Lifesciences Corp.* | 31,860 | 3,299,740 | |
Hologic, Inc.* | 13,052 | 870,830 | |
IDEXX Laboratories, Inc.* | 4,371 | 2,760,505 | |
Intuitive Surgical, Inc.* | 6,080 | 5,591,411 | |
Medtronic PLC | 68,966 | 8,560,750 | |
ResMed, Inc. | 7,514 | 1,852,351 | |
STERIS PLC (a) | 4,984 | 1,028,199 | |
Stryker Corp. | 16,880 | 4,384,242 | |
Teleflex, Inc. (a) | 2,430 | 976,350 | |
The Cooper Companies, Inc. (a) | 2,560 | 1,014,451 | |
West Pharmaceutical Services, Inc. (a) | 3,819 | 1,371,403 | |
Zimmer Biomet Holdings, Inc. | 10,732 | 1,725,920 | |
67,453,145 | |||
Health Care Providers & Services 2.6% | |||
AmerisourceBergen Corp. | 7,675 | 878,711 | |
Anthem, Inc. | 12,570 | 4,799,226 | |
Cardinal Health, Inc. | 15,108 | 862,516 | |
Centene Corp.* | 30,048 | 2,191,401 | |
Cigna Corp. | 17,611 | 4,175,040 | |
CVS Health Corp. | 67,677 | 5,646,969 | |
DaVita, Inc.* | 3,645 | 438,967 | |
HCA Healthcare, Inc. | 13,474 | 2,785,615 | |
Henry Schein, Inc.* | 7,450 | 552,715 | |
Humana, Inc. | 6,619 | 2,930,364 | |
Laboratory Corp. of America Holdings* | 5,054 | 1,394,146 | |
McKesson Corp. | 8,157 | 1,559,945 | |
Quest Diagnostics, Inc. | 6,683 | 881,955 | |
UnitedHealth Group, Inc. | 48,465 | 19,407,324 | |
Universal Health Services, Inc. “B” | 3,956 | 579,277 | |
49,084,171 | |||
Health Care Technology 0.1% | |||
Cerner Corp. | 15,359 | 1,200,459 |
Deutsche DWS Equity 500 Index Portfolio | | 31 |
Shares | Value ($) | ||
Life Sciences Tools & Services 1.2% | |||
Agilent Technologies, Inc. | 15,594 | 2,304,949 | |
Bio-Rad Laboratories, Inc. “A” * (a) | 1,097 | 706,786 | |
Charles River Laboratories International, Inc.* | 2,593 | 959,203 | |
Illumina, Inc.* | 7,499 | 3,548,602 | |
IQVIA Holdings, Inc.* | 9,841 | 2,384,671 | |
Mettler-Toledo International, Inc.* (a) | 1,198 | 1,659,637 | |
PerkinElmer, Inc. | 5,757 | 888,938 | |
Thermo Fisher Scientific, Inc. | 20,166 | 10,173,142 | |
Waters Corp.* | 3,155 | 1,090,400 | |
23,716,328 | |||
Pharmaceuticals 3.6% | |||
Bristol-Myers Squibb Co. | 114,690 | 7,663,586 | |
Catalent, Inc.* (a) | 8,617 | 931,670 | |
Eli Lilly & Co. | 40,895 | 9,386,220 | |
Johnson & Johnson | 135,299 | 22,289,157 | |
Merck & Co., Inc. | 130,040 | 10,113,211 | |
Organon & Co.* | 12,747 | 385,724 | |
Perrigo Co. PLC (a) | 6,816 | 312,514 | |
Pfizer, Inc. | 287,559 | 11,260,811 | |
Viatris, Inc. | 63,222 | 903,442 | |
Zoetis, Inc. | 24,382 | 4,543,830 | |
67,790,165 | |||
Industrials 8.4% | |||
Aerospace & Defense 1.6% | |||
Boeing Co.* | 28,222 | 6,760,862 | |
General Dynamics Corp. | 11,768 | 2,215,444 | |
Howmet Aerospace, Inc.* | 19,805 | 682,678 | |
Huntington Ingalls Industries, Inc. (a) | 2,030 | 427,822 | |
L3Harris Technologies, Inc. | 10,586 | 2,288,164 | |
Lockheed Martin Corp. | 12,573 | 4,756,995 | |
Northrop Grumman Corp. | 7,695 | 2,796,594 | |
Raytheon Technologies Corp. | 77,803 | 6,637,374 | |
Teledyne Technologies, Inc.* | 2,398 | 1,004,354 | |
Textron, Inc. | 11,589 | 796,976 | |
TransDigm Group, Inc.* (a) | 2,807 | 1,816,943 | |
30,184,206 | |||
Air Freight & Logistics 0.7% | |||
C.H. Robinson Worldwide, Inc. | 6,721 | 629,556 | |
Expeditors International of Washington, Inc. | 8,700 | 1,101,420 |
32 | | Deutsche DWS Equity 500 Index Portfolio |
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FedEx Corp. | 12,541 | 3,741,357 | |
United Parcel Service, Inc. “B” | 37,156 | 7,727,333 | |
13,199,666 | |||
Airlines 0.3% | |||
Alaska Air Group, Inc.* | 6,220 | 375,128 | |
American Airlines Group, Inc.* | 33,552 | 711,638 | |
Delta Air Lines, Inc.* | 33,224 | 1,437,270 | |
Southwest Airlines Co.* (a) | 30,219 | 1,604,327 | |
United Airlines Holdings, Inc.* | 16,444 | 859,857 | |
4,988,220 | |||
Building Products 0.5% | |||
A.O. Smith Corp. | 6,867 | 494,836 | |
Allegion PLC | 4,584 | 638,551 | |
Carrier Global Corp. | 41,801 | 2,031,529 | |
Fortune Brands Home & Security, Inc. | 7,248 | 721,973 | |
Johnson Controls International PLC | 36,791 | 2,524,966 | |
Masco Corp. | 12,988 | 765,123 | |
Trane Technologies PLC | 12,276 | 2,260,503 | |
9,437,481 | |||
Commercial Services & Supplies 0.4% | |||
Cintas Corp. | 4,560 | 1,741,920 | |
Copart, Inc.* | 10,566 | 1,392,916 | |
Republic Services, Inc. | 10,951 | 1,204,719 | |
Rollins, Inc. | 11,123 | 380,407 | |
Waste Management, Inc. | 20,040 | 2,807,804 | |
7,527,766 | |||
Construction & Engineering 0.1% | |||
Jacobs Engineering Group, Inc. | 6,740 | 899,251 | |
Quanta Services, Inc. | 7,110 | 643,952 | |
1,543,203 | |||
Electrical Equipment 0.6% | |||
AMETEK, Inc. | 11,989 | 1,600,532 | |
Eaton Corp. PLC | 20,432 | 3,027,614 | |
Emerson Electric Co. | 30,730 | 2,957,455 | |
Generac Holdings, Inc.* | 3,216 | 1,335,122 | |
Rockwell Automation, Inc. (a) | 5,947 | 1,700,961 | |
10,621,684 | |||
Industrial Conglomerates 1.2% | |||
3M Co. (a) | 29,853 | 5,929,702 | |
General Electric Co. | 450,791 | 6,067,647 |
Deutsche DWS Equity 500 Index Portfolio | | 33 |
Shares | Value ($) | ||
Honeywell International, Inc. | 35,658 | 7,821,582 | |
Roper Technologies, Inc. | 5,390 | 2,534,378 | |
22,353,309 | |||
IT Services 0.0% | |||
Leidos Holdings, Inc. | 6,956 | 703,252 | |
Machinery 1.6% | |||
Caterpillar, Inc. | 28,068 | 6,108,439 | |
Cummins, Inc. | 7,501 | 1,828,819 | |
Deere & Co. | 16,020 | 5,650,414 | |
Dover Corp. | 7,422 | 1,117,753 | |
Fortive Corp. | 17,627 | 1,229,307 | |
IDEX Corp. | 3,933 | 865,457 | |
Illinois Tool Works, Inc. | 14,742 | 3,295,721 | |
Ingersoll Rand, Inc.* | 19,356 | 944,766 | |
Otis Worldwide Corp. | 20,714 | 1,693,784 | |
PACCAR, Inc. | 17,767 | 1,585,705 | |
Parker-Hannifin Corp. | 6,609 | 2,029,690 | |
Pentair PLC (a) | 8,430 | 568,941 | |
Snap-on, Inc. (a) | 2,759 | 616,443 | |
Stanley Black & Decker, Inc. | 8,306 | 1,702,647 | |
Westinghouse Air Brake Technologies Corp. (a) | 9,048 | 744,650 | |
Xylem, Inc. | 9,209 | 1,104,712 | |
31,087,248 | |||
Professional Services 0.3% | |||
Equifax, Inc. | 6,226 | 1,491,189 | |
IHS Markit Ltd. | 19,313 | 2,175,803 | |
Nielsen Holdings PLC (a) | 18,799 | 463,771 | |
Robert Half International, Inc. | 5,753 | 511,844 | |
Verisk Analytics, Inc. | 8,302 | 1,450,526 | |
6,093,133 | |||
Road & Rail 0.9% | |||
CSX Corp. | 116,673 | 3,742,870 | |
J.B. Hunt Transport Services, Inc. | 4,343 | 707,692 | |
Kansas City Southern | 4,672 | 1,323,905 | |
Norfolk Southern Corp. | 12,852 | 3,411,049 | |
Old Dominion Freight Line, Inc. | 4,894 | 1,242,097 | |
Union Pacific Corp. | 34,121 | 7,504,231 | |
17,931,844 | |||
Trading Companies & Distributors 0.2% | |||
Fastenal Co. | 29,409 | 1,529,268 |
34 | | Deutsche DWS Equity 500 Index Portfolio |
Shares | Value ($) | ||
United Rentals, Inc.* | 3,743 | 1,194,054 | |
W.W. Grainger, Inc. (a) | 2,227 | 975,426 | |
3,698,748 | |||
Information Technology 27.0% | |||
Communications Equipment 0.8% | |||
Arista Networks, Inc.* | 2,830 | 1,025,337 | |
Cisco Systems, Inc. (a) | 216,526 | 11,475,878 | |
F5 Networks, Inc.* (a) | 3,054 | 570,060 | |
Juniper Networks, Inc. (a) | 16,549 | 452,615 | |
Motorola Solutions, Inc. | 8,698 | 1,886,161 | |
15,410,051 | |||
Electronic Equipment, Instruments & Components 0.6% | |||
Amphenol Corp. “A” | 30,470 | 2,084,453 | |
CDW Corp. | 7,226 | 1,262,021 | |
Corning, Inc. | 39,664 | 1,622,257 | |
IPG Photonics Corp.* (a) | 1,910 | 402,571 | |
Keysight Technologies, Inc.* | 9,576 | 1,478,630 | |
TE Connectivity Ltd. | 17,031 | 2,302,761 | |
Trimble, Inc.* | 13,067 | 1,069,273 | |
Zebra Technologies Corp. “A” * (a) | 2,731 | 1,446,037 | |
11,668,003 | |||
IT Services 5.1% | |||
Accenture PLC “A” | 32,642 | 9,622,535 | |
Akamai Technologies, Inc.* | 8,360 | 974,776 | |
Automatic Data Processing, Inc. | 21,846 | 4,339,053 | |
Broadridge Financial Solutions, Inc. | 6,029 | 973,864 | |
Cognizant Technology Solutions Corp. “A” | 27,048 | 1,873,345 | |
DXC Technology Co.* | 13,279 | 517,084 | |
Fidelity National Information Services, Inc. | 31,799 | 4,504,964 | |
Fiserv, Inc.* (a) | 30,706 | 3,282,164 | |
FleetCor Technologies, Inc.* | 4,252 | 1,088,767 | |
Gartner, Inc.* | 4,413 | 1,068,829 | |
Global Payments, Inc. | 15,216 | 2,853,609 | |
International Business Machines Corp. (a) | 45,869 | 6,723,937 | |
Jack Henry & Associates, Inc. (a) | 3,794 | 620,357 | |
MasterCard, Inc. “A” | 44,924 | 16,401,303 | |
Paychex, Inc. | 16,569 | 1,777,854 | |
PayPal Holdings, Inc.* | 60,363 | 17,594,607 | |
VeriSign, Inc.* | 5,147 | 1,171,921 |
Deutsche DWS Equity 500 Index Portfolio | | 35 |
Shares | Value ($) | ||
Visa, Inc. “A” | 86,876 | 20,313,346 | |
Western Union Co. (a) | 20,896 | 479,981 | |
96,182,296 | |||
Semiconductors & Semiconductor Equipment 5.7% | |||
Advanced Micro Devices, Inc.* (a) | 62,402 | 5,861,420 | |
Analog Devices, Inc. (a) | 19,049 | 3,279,476 | |
Applied Materials, Inc. | 47,248 | 6,728,115 | |
Broadcom, Inc. | 20,961 | 9,995,043 | |
Enphase Energy, Inc.* | 6,964 | 1,278,799 | |
Intel Corp. | 207,401 | 11,643,492 | |
KLA Corp. | 7,866 | 2,550,236 | |
Lam Research Corp. | 7,324 | 4,765,727 | |
Maxim Integrated Products, Inc. | 13,805 | 1,454,495 | |
Microchip Technology, Inc. | 13,995 | 2,095,611 | |
Micron Technology, Inc.* | 57,615 | 4,896,123 | |
Monolithic Power Systems, Inc. | 2,199 | 821,217 | |
NVIDIA Corp. | 32,002 | 25,604,800 | |
NXP Semiconductors NV | 14,145 | 2,909,909 | |
Qorvo, Inc.* | 5,688 | 1,112,857 | |
QUALCOMM, Inc. | 57,933 | 8,280,364 | |
Skyworks Solutions, Inc. | 8,561 | 1,641,572 | |
Teradyne, Inc. | 8,526 | 1,142,143 | |
Texas Instruments, Inc. | 47,467 | 9,127,904 | |
Xilinx, Inc. | 12,552 | 1,815,521 | |
107,004,824 | |||
Software 8.7% | |||
Adobe, Inc.* | 24,550 | 14,377,462 | |
ANSYS, Inc.* (a) | 4,466 | 1,549,970 | |
Autodesk, Inc.* | 11,290 | 3,295,551 | |
Cadence Design Systems, Inc.* | 14,379 | 1,967,335 | |
Citrix Systems, Inc. (a) | 6,432 | 754,281 | |
Fortinet, Inc.* | 6,959 | 1,657,564 | |
Intuit, Inc. | 14,036 | 6,880,026 | |
Microsoft Corp. | 386,900 | 104,811,210 | |
NortonLifeLock, Inc. | 29,783 | 810,693 | |
Oracle Corp. | 93,322 | 7,264,185 | |
Paycom Software, Inc.* | 2,567 | 933,028 | |
PTC, Inc.* | 5,347 | 755,317 | |
salesforce.com, Inc.* (a) | 47,559 | 11,617,237 | |
ServiceNow, Inc.* | 10,126 | 5,564,743 |
36 | | Deutsche DWS Equity 500 Index Portfolio |
Shares | Value ($) | ||
Synopsys, Inc.* | 7,818 | 2,156,126 | |
Tyler Technologies, Inc.* | 2,081 | 941,382 | |
165,336,110 | |||
Technology Hardware, Storage & Peripherals 6.1% | |||
Apple, Inc. | 805,795 | 110,361,683 | |
Hewlett Packard Enterprise Co. | 66,809 | 974,075 | |
HP, Inc. | 61,655 | 1,861,364 | |
NetApp, Inc. (a) | 11,403 | 932,994 | |
Seagate Technology Holdings PLC (a) | 10,220 | 898,645 | |
Western Digital Corp.* | 15,928 | 1,133,596 | |
116,162,357 | |||
Materials 2.6% | |||
Chemicals 1.8% | |||
Air Products & Chemicals, Inc. | 11,413 | 3,283,292 | |
Albemarle Corp. | 6,066 | 1,021,878 | |
Celanese Corp. | 5,832 | 884,131 | |
CF Industries Holdings, Inc. | 10,957 | 563,738 | |
Corteva, Inc. | 37,818 | 1,677,228 | |
Dow, Inc. (a) | 38,415 | 2,430,901 | |
DuPont de Nemours, Inc. | 27,319 | 2,114,764 | |
Eastman Chemical Co. | 6,942 | 810,479 | |
Ecolab, Inc. | 12,822 | 2,640,947 | |
FMC Corp. | 6,542 | 707,844 | |
International Flavors & Fragrances, Inc. | 12,766 | 1,907,241 | |
Linde PLC (a) | 26,704 | 7,720,127 | |
LyondellBasell Industries NV “A” | 13,105 | 1,348,111 | |
PPG Industries, Inc. | 12,226 | 2,075,608 | |
Sherwin-Williams Co. | 12,282 | 3,346,231 | |
The Mosaic Co. | 17,452 | 556,893 | |
33,089,413 | |||
Construction Materials 0.1% | |||
Martin Marietta Materials, Inc. | 3,252 | 1,144,086 | |
Vulcan Materials Co. | 6,792 | 1,182,283 | |
2,326,369 | |||
Containers & Packaging 0.3% | |||
Amcor PLC | 78,662 | 901,467 | |
Avery Dennison Corp. | 4,310 | 906,134 | |
Ball Corp. (a) | 16,733 | 1,355,708 | |
International Paper Co. | 20,039 | 1,228,591 | |
Packaging Corp. of America | 4,907 | 664,506 |
Deutsche DWS Equity 500 Index Portfolio | | 37 |
Shares | Value ($) | ||
Sealed Air Corp. (a) | 7,725 | 457,706 | |
Westrock Co. | 13,836 | 736,352 | |
6,250,464 | |||
Metals & Mining 0.4% | |||
Freeport-McMoRan, Inc. | 75,249 | 2,792,491 | |
Newmont Corp. | 41,148 | 2,607,960 | |
Nucor Corp. | 15,469 | 1,483,941 | |
6,884,392 | |||
Real Estate 2.5% | |||
Equity Real Estate Investment Trusts (REITs) 2.4% | |||
Alexandria Real Estate Equities, Inc. | 7,009 | 1,275,218 | |
American Tower Corp. | 23,395 | 6,319,925 | |
AvalonBay Communities, Inc. | 7,136 | 1,489,212 | |
Boston Properties, Inc. | 7,377 | 845,330 | |
Crown Castle International Corp. | 22,268 | 4,344,487 | |
Digital Realty Trust, Inc. (a) | 14,526 | 2,185,582 | |
Duke Realty Corp. | 18,905 | 895,152 | |
Equinix, Inc. | 4,612 | 3,701,591 | |
Equity Residential | 17,594 | 1,354,738 | |
Essex Property Trust, Inc. | 3,319 | 995,733 | |
Extra Space Storage, Inc. | 6,937 | 1,136,419 | |
Federal Realty Investment Trust (a) | 3,536 | 414,313 | |
Healthpeak Properties, Inc. | 27,175 | 904,656 | |
Host Hotels & Resorts, Inc. * (a) | 37,066 | 633,458 | |
Iron Mountain, Inc. | 15,177 | 642,291 | |
Kimco Realty Corp. | 22,699 | 473,274 | |
Mid-America Apartment Communities, Inc. | 5,807 | 978,015 | |
Prologis, Inc. | 37,958 | 4,537,120 | |
Public Storage | 7,854 | 2,361,619 | |
Realty Income Corp. (a) | 19,029 | 1,269,995 | |
Regency Centers Corp. | 8,263 | 529,410 | |
SBA Communications Corp. | 5,588 | 1,780,896 | |
Simon Property Group, Inc. | 16,847 | 2,198,197 | |
UDR, Inc. | 15,257 | 747,288 | |
Ventas, Inc. | 19,128 | 1,092,209 | |
Vornado Realty Trust | 7,927 | 369,953 | |
Welltower, Inc. | 21,354 | 1,774,517 | |
Weyerhaeuser Co. | 38,775 | 1,334,636 | |
46,585,234 | |||
Real Estate Management & Development 0.1% | |||
CBRE Group, Inc. “A” * | 17,436 | 1,494,788 |
38 | | Deutsche DWS Equity 500 Index Portfolio |
Shares | Value ($) | ||
Utilities 2.4% | |||
Electric Utilities 1.5% | |||
Alliant Energy Corp. (a) | 12,813 | 714,453 | |
American Electric Power Co., Inc. | 25,674 | 2,171,764 | |
Duke Energy Corp. | 39,505 | 3,899,934 | |
Edison International | 19,387 | 1,120,956 | |
Entergy Corp. | 10,285 | 1,025,414 | |
Evergy, Inc. | 11,699 | 706,970 | |
Eversource Energy | 17,735 | 1,423,056 | |
Exelon Corp. (a) | 49,989 | 2,215,013 | |
FirstEnergy Corp. | 27,924 | 1,039,052 | |
NextEra Energy, Inc. | 100,728 | 7,381,348 | |
NRG Energy, Inc. | 12,513 | 504,274 | |
Pinnacle West Capital Corp. | 5,708 | 467,885 | |
PPL Corp. | 39,344 | 1,100,452 | |
Southern Co. | 54,598 | 3,303,725 | |
Xcel Energy, Inc. | 27,614 | 1,819,210 | |
28,893,506 | |||
Gas Utilities 0.0% | |||
Atmos Energy Corp. | 6,685 | 642,495 | |
Independent Power & Renewable Electricity Producers 0.1% | |||
AES Corp. | 34,606 | 902,178 | |
Multi-Utilities 0.7% | |||
Ameren Corp. | 13,115 | 1,049,725 | |
CenterPoint Energy, Inc. (a) | 29,722 | 728,783 | |
CMS Energy Corp. | 15,147 | 894,885 | |
Consolidated Edison, Inc. | 17,462 | 1,252,375 | |
Dominion Energy, Inc. | 41,574 | 3,058,599 | |
DTE Energy Co. | 9,859 | 1,277,726 | |
NiSource, Inc. | 19,694 | 482,503 | |
Public Service Enterprise Group, Inc. | 25,806 | 1,541,651 | |
Sempra Energy | 16,159 | 2,140,744 | |
WEC Energy Group, Inc. (a) | 16,346 | 1,453,977 | |
13,880,968 | |||
Water Utilities 0.1% | |||
American Water Works Co., Inc. (a) | 9,368 | 1,443,890 | |
Total Common Stocks (Cost $464,485,204) | 1,866,005,237 |
Deutsche DWS Equity 500 Index Portfolio | | 39 |
Principal Amount ($) | Value ($) | ||
Government & Agency Obligations 0.1% | |||
U.S. Treasury Obligations | |||
U.S. Treasury Bills, 0.098% (b), 7/15/2021 (c) (Cost $2,659,938) | 2,660,000 | 2,659,953 |
Shares | Value ($) | ||
Securities Lending Collateral 8.4% | |||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 0.01% (d) (e) (Cost $158,370,607) | 158,370,607 | 158,370,607 | |
Cash Equivalents 1.3% | |||
DWS Central Cash Management Government Fund, 0.02% (d) (Cost $25,260,630) | 25,260,630 | 25,260,630 |
% of Net Assets | Value ($) | ||
Total Investment Portfolio (Cost $650,776,379) | 108.3 | 2,052,296,427 | |
Other Assets and Liabilities, Net | (8.3) | (157,407,980) | |
Net Assets | 100.0 | 1,894,888,447 |
Value ($) at 12/31/2020 | 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 6/30/2021 | Value ($) at 6/30/2021 |
Securities Lending Collateral 8.4% | ||||||||
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares” , 0.01% (d) (e) | ||||||||
2,228,289 | 156,142,318 (f) | — | — | — | 15,040 | — | 158,370,607 | 158,370,607 |
Cash Equivalents 1.3% | ||||||||
DWS Central Cash Management Government Fund, 0.02% (d) | ||||||||
26,880,974 | 93,791,049 | 95,411,393 | — | — | 2,479 | — | 25,260,630 | 25,260,630 |
29,109,263 | 249,933,367 | 95,411,393 | — | — | 17,519 | — | 183,631,237 | 183,631,237 |
* | Non-income producing security. |
40 | | Deutsche DWS Equity 500 Index Portfolio |
(a) | 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 June 30, 2021 amounted to $155,489,053, which is 8.2% of net assets. |
(b) | Annualized yield at time of purchase; not a coupon rate. |
(c) | At June 30, 2021, this security has been pledged, in whole or in part, to cover initial margin requirements for open futures contracts. |
(d) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(e) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
(f) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended June 30, 2021. |
Futures | Currency | Expiration Date | Contracts | Notional Amount ($) | Notional Value ($) | Unrealized Appreciation ($) |
S&P 500 E-Mini Index | USD | 9/17/2021 | 131 | 27,547,811 | 28,090,330 | 542,519 |
USD | United States Dollar |
Deutsche DWS Equity 500 Index Portfolio | | 41 |
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks (a) | $1,866,005,237 | $ — | $— | $1,866,005,237 |
Government & Agency Obligations | — | 2,659,953 | — | 2,659,953 |
Short-Term Investments (a) | 183,631,237 | — | — | 183,631,237 |
Derivatives (b) | ||||
Futures Contracts | 542,519 | — | — | 542,519 |
Total | $2,050,178,993 | $2,659,953 | $ — | $2,052,838,946 |
(a) | See Investment Portfolio for additional detailed categorizations. |
(b) | Derivatives include unrealized appreciation (depreciation) on open futures contracts. |
42 | | Deutsche DWS Equity 500 Index Portfolio |
Assets | |
Investments in non-affiliated securities, at value (cost $467,145,142) — including $155,489,053 of securities loaned | $ 1,868,665,190 |
Investment in DWS Government & Agency Securities Portfolio (cost $158,370,607)* | 158,370,607 |
Investment in DWS Central Cash Management Government Fund (cost $25,260,630) | 25,260,630 |
Cash | 6,350 |
Dividends receivable | 1,069,706 |
Interest receivable | 5,782 |
Receivable for variation margin on futures contracts | 43,278 |
Other assets | 16,805 |
Total assets | 2,053,438,348 |
Liabilities | |
Payable upon return of securities loaned | 158,370,607 |
Accrued management fee | 76,893 |
Accrued Trustees' fees | 5,645 |
Other accrued expenses and payables | 96,756 |
Total liabilities | 158,549,901 |
Net assets, at value | $ 1,894,888,447 |
* | Represents collateral on securities loaned. |
Deutsche DWS Equity 500 Index Portfolio | | 43 |
Investment Income | |
Income: | |
Dividends (net of foreign taxes withheld of $64,693) | $ 12,853,606 |
Interest | 638 |
Income distributions — DWS Central Cash Management Government Fund | 2,479 |
Securities lending income, net of borrower rebates | 15,040 |
Total income | 12,871,763 |
Expenses: | |
Management fee | 444,816 |
Administration fee | 266,890 |
Custodian fee | 12,070 |
Professional fees | 43,819 |
Reports to shareholders | 10,498 |
Trustees' fees and expenses | 41,404 |
Other | 41,840 |
Total expenses | 861,337 |
Net investment income | 12,010,426 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) from: | |
Investments | 59,126,189 |
Futures | 4,291,161 |
63,417,350 | |
Change in net unrealized appreciation (depreciation) on: | |
Investments | 178,438,190 |
Futures | (24,538) |
178,413,652 | |
Net gain (loss) | 241,831,002 |
Net increase (decrease) in net assets resulting from operations | $ 253,841,428 |
44 | | Deutsche DWS Equity 500 Index Portfolio |
Deutsche DWS Equity 500 Index Portfolio | ||
Six Months Ended June 30, 2021 | Year Ended December 31, | |
Increase (Decrease) in Net Assets | (Unaudited) | 2020 |
Operations: | ||
Net investment income | $ 12,010,426 | $ 27,700,804 |
Net realized gain (loss) | 63,417,350 | 151,111,582 |
Change in net unrealized appreciation (depreciation) | 178,413,652 | 88,950,111 |
Net increase (decrease) in net assets resulting from operations | 253,841,428 | 267,762,497 |
Capital transactions in shares of beneficial interest: | ||
Proceeds from capital invested | 17,005,984 | 62,270,039 |
Value of capital withdrawn | (106,093,588) | (292,415,144) |
Net increase (decrease) in net assets from capital transactions in shares of beneficial interest | (89,087,604) | (230,145,105) |
Increase (decrease) in net assets | 164,753,824 | 37,617,392 |
Net assets at beginning of period | 1,730,134,623 | 1,692,517,231 |
Net assets at end of period | $1,894,888,447 | $1,730,134,623 |
Deutsche DWS Equity 500 Index Portfolio | | 45 |
Deutsche DWS Equity 500 Index Portfolio | ||||||
Six Months Ended 6/30/21 | Years Ended December 31, | |||||
(Unaudited) | 2020 | 2019 | 2018 | 2017 | 2016 | |
Ratios to Average Net Assets and Supplemental Data | ||||||
Net assets, end of period ($ millions) | 1,895 | 1,730 | 1,693 | 1,457 | 1,788 | 1,689 |
Ratio of expenses (%) | .10 * | .10 | .10 | .10 | .10 | .10 |
Ratio of net investment income (%) | 1.35 * | 1.76 | 1.93 | 1.90 | 1.93 | 2.14 |
Portfolio turnover rate (%) | 1 ** | 4 | 3 | 3 | 6 | 3 |
Total investment return (%)a | 15.19 ** | 18.15 | 31.34 | (4.09) b | 21.62 | 11.75 |
a | Total investment return for the Portfolio was derived from the performance of the Institutional Class of DWS Equity 500 Index Fund. |
b | Includes a reimbursement from the sub-advisor to reimburse the effect of a loss incurred as a result of an operational error. Excluding this reimbursement, total return would have been .30% lower. |
* | Annualized |
** | Not annualized |
46 | | Deutsche DWS Equity 500 Index Portfolio |
Notes to Financial Statements | (Unaudited) |
A. | Organization and Significant Accounting Policies |
Deutsche DWS Equity 500 Index Portfolio | | 47 |
48 | | Deutsche DWS Equity 500 Index Portfolio |
Deutsche DWS Equity 500 Index Portfolio | | 49 |
B. | Derivative Instruments |
50 | | Deutsche DWS Equity 500 Index Portfolio |
Assets Derivative | Futures Contracts |
Equity Contracts (a) | $ 542,519 |
The above derivative is located in the following Statement of Assets and Liabilities account: |
(a) | Includes cumulative appreciation of futures contracts as disclosed in the Investment Portfolio. Unsettled variation margin is disclosed separately within the Statement of Assets and Liabilities. |
Realized Gain (Loss) | Futures Contracts |
Equity Contracts (a) | $ 4,291,161 |
The above derivative is located in the following Statement of Operations account: |
(a) | Net realized gain (loss) from futures |
Change in Net Unrealized Appreciation (Depreciation) | Futures Contracts |
Equity Contracts (a) | $ (24,538) |
The above derivative is located in the following Statement of Operations account: |
(a) | Change in net unrealized appreciation (depreciation) on futures |
Deutsche DWS Equity 500 Index Portfolio | | 51 |
C. | Purchases and Sales of Securities |
D. | Related Parties |
52 | | Deutsche DWS Equity 500 Index Portfolio |
E. | Line of Credit |
F. | Other — COVID-19 Pandemic |
Deutsche DWS Equity 500 Index Portfolio | | 53 |
54 | | Deutsche DWS Equity 500 Index Portfolio |
— | During the entire process, all of the Fund’s Trustees were independent of DIMA and its affiliates (the “Independent Trustees” ). |
— | The Board met frequently during the past year to discuss fund matters and dedicated a substantial amount of time to contract review matters. Over the course of several months, the Board reviewed extensive materials received from DIMA, independent third parties and independent counsel. These materials included an analysis of the Fund’s performance, fees and expenses, and profitability from a fee consultant retained by the Fund’s Independent Trustees (the “Fee Consultant” ). |
— | The Board also received extensive information throughout the year regarding performance of the Fund. |
— | The Independent Trustees regularly met privately with counsel to discuss contract review and other matters. In addition, the Independent Trustees were advised by the Fee Consultant in the course of their review of the Fund’s contractual arrangements and considered a comprehensive report prepared by the Fee Consultant in connection with their deliberations. |
— | In connection with reviewing the Agreement, the Board also reviewed the terms of the Fund’s Rule 12b-1 plan, distribution agreement, administrative services agreement, transfer agency agreement and other material service agreements. |
DWS Equity 500 Index Fund | | 55 |
56 | | DWS Equity 500 Index Fund |
DWS Equity 500 Index Fund | | 57 |
58 | | DWS Equity 500 Index Fund |
DWS Equity 500 Index Fund | | 59 |
For More Information | The automated telephone system allows you to access personalized account information and obtain information on other DWS funds using either your voice or your telephone keypad. Certain account types within Class S also have the ability to purchase, exchange or redeem shares using this system. |
For more information, contact your financial representative. You may also access our automated telephone system or speak with a Shareholder Service representative by calling: (800) 728-3337 | |
Web Site | dws.com View your account transactions and balances, trade shares, monitor your asset allocation, subscribe to fund and account updates by e-mail, and change your address, 24 hours a day. |
Obtain prospectuses and applications, news about DWS funds, insight from DWS economists and investment specialists and access to DWS fund account information. | |
Written Correspondence | DWSPO Box 219151 Kansas City, MO 64121-9151 |
Proxy Voting | The Fund’s policies and procedures for voting proxies for portfolio securities and information about how the Fund voted proxies related to its portfolio securities during the most recent 12-month period ended June 30 are available on our Web site — dws.com/en-us/resources/proxy-voting — or on the SEC’s Web site — sec.gov. To obtain a written copy of the Fund’s policies and procedures without charge, upon request, call us toll free at (800) 728-3337. |
Portfolio Holdings | Following the Fund’s fiscal first and third quarter-end, a complete portfolio holdings listing is posted on dws.com, and is available free of charge by contacting your financial intermediary, or if you are a direct investor, by calling (800) 728-3337. In addition, the portfolio holdings listing is filed with SEC on the Fund’s Form N-PORT and will be available on the SEC’s Web site at sec.gov. Additional portfolio holdings for the Fund are also posted on dws.com from time to time. Please see the Fund’s current prospectus for more information. |
Principal Underwriter | If you have questions, comments or complaints, contact:DWS Distributors, Inc. 222 South Riverside Plaza Chicago, IL 60606-5808 (800) 621-1148 |
60 | | DWS Equity 500 Index Fund |
Investment Management | DWS Investment Management Americas, Inc. (“DIMA” or the “Advisor” ), which is part of the DWS Group GmbH & Co. KGaA (“DWS Group” ), is the investment advisor for the Fund. DIMA and its predecessors have more than 90 years of experience managing mutual funds and DIMA provides a full range of investment advisory services to both institutional and retail clients. DIMA is an indirect, wholly owned subsidiary of DWS Group. |
DWS Group is a global organization that offers a wide range of investing expertise and resources, including hundreds of portfolio managers and analysts and an office network that reaches the world’s major investment centers. This well-resourced global investment platform brings together a wide variety of experience and investment insight across industries, regions, asset classes and investing styles. |
Class S | Institutional Class | |
Nasdaq Symbol | BTIEX | BTIIX |
CUSIP Number | 25159R 205 | 25159R 106 |
Fund Number | 815 | 565 |
For shareholders of Class R6 | ||
Automated Information Line | DWS/Ascensus Plan Access (800) 728-3337 | |
24-hour access to your retirement plan account. | ||
Web Site | dws.com | |
Obtain prospectuses and applications, news about DWS funds, insight from DWS economists and investment specialists and access to DWS fund account information. | ||
Log in/register to manage retirement account assets at https://www.mykplan.com/participantsecure_net/login.aspx. | ||
For More Information | (800) 728-3337 | |
To speak with a service representative. | ||
Written Correspondence | DWS Service Company222 South Riverside Plaza Chicago, IL 60606-5806 |
Class R6 | |
Nasdaq Symbol | BTIRX |
CUSIP Number | 25159R 866 |
Fund Number | 1615 |
DWS Equity 500 Index Fund | | 61 |
FACTS | What Does DWS Do With Your Personal Information? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share can include: — Social Security number — Account balances — Purchase and transaction history — Bank account information — Contact information such as mailing address, e-mail address and telephone number |
How? | All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information, the reasons DWS chooses to share and whether you can limit this sharing. |
Reasons we can share your personal information | Does DWS share? | Can you limit this sharing? |
For our everyday business purposes —such as to process your transactions, maintain your account(s), respond to court orders or legal investigations | Yes | No |
For our marketing purposes — to offer our products and services to you | Yes | No |
For joint marketing with other financial companies | No | We do not share |
For our affiliates’ everyday business purposes — information about your transactions and experiences | No | We do not share |
For our affiliates’ everyday business purposes — information about your creditworthiness | No | We do not share |
For non-affiliates to market to you | No | We do not share |
Questions? | Call (800) 728-3337 or e-mail us at service@dws.com |
62 | | Deutsche DWS Equity 500 Index Portfolio |
Who we are | |
Who is providing this notice? | DWS Distributors, Inc; DWS Investment Management Americas, Inc.; DWS Trust Company; the DWS Funds |
What we do | |
How does DWS protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards, secured files, and secured buildings. |
How does DWS collect my personal information? | We collect your personal information, for example, when you: — open an account — give us your contact information — provide bank account information for ACH or wire transactions — tell us where to send money — seek advice about your investments |
Why can’t I limit all sharing? | Federal law gives you the right to limit only — sharing for affiliates’ everyday business purposes — information about your creditworthiness — affiliates from using your information to market to you — sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial or non-financial companies. Our affiliates include financial companies with the DWS or Deutsche Bank (“DB” ) name, such as DB AG Frankfurt. |
Non-affiliates | Companies not related by common ownership or control. They can be financial and non-financial companies. Non-affiliates we share with include account service providers, service quality monitoring services, mailing service providers and verification services to help in the fight against money laundering and fraud. |
Joint marketing | A formal agreement between non-affiliated financial companies that together market financial products or services to you. DWS does not jointly market. |
Deutsche DWS Equity 500 Index Portfolio | | 63 |
(b) Not applicable | ||
ITEM 2. | CODE OF ETHICS | |
Not applicable. | ||
ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT | |
Not applicable | ||
ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES | |
Not applicable | ||
ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS | |
Not applicable | ||
ITEM 6. | SCHEDULE OF INVESTMENTS | |
Not applicable | ||
ITEM 7. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES | |
Not applicable | ||
ITEM 8. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES | |
Not applicable | ||
ITEM 9. | PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS | |
Not applicable | ||
ITEM 10. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS | |
There were no material changes to the procedures by which shareholders may recommend nominees to the Fund’s Board. The primary function of the Nominating and Governance Committee is to identify and recommend individuals for membership on the Board and oversee the administration of the Board Governance Guidelines. Shareholders may recommend candidates for Board positions by forwarding their correspondence by U.S. mail or courier service to Keith R. Fox, DWS Funds Board Chair, c/o Thomas R. Hiller, Ropes & Gray LLP, Prudential Tower, 800 Boylston Street, Boston, MA 02199-3600. | ||
ITEM 11. | CONTROLS AND PROCEDURES | |
(a) | The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report. | |
(b) | There have been no changes in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting. | |
ITEM 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. | |
Not applicable | ||
ITEM 13. | EXHIBITS | |
(a)(1) | Not applicable | |
(a)(2) | Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. | |
(b) | Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: | DWS Equity 500 Index Fund, a series of Deutsche DWS Institutional Funds |
By: | /s/Hepsen Uzcan Hepsen Uzcan President |
Date: | 8/27/2021 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Hepsen Uzcan Hepsen Uzcan President |
Date: | 8/27/2021 |
By: | /s/Diane Kenneally Diane Kenneally Chief Financial Officer and Treasurer |
Date: | 8/27/2021 |