Investment Portfolio | as of August 31, 2021 (Unaudited) |
DWS CROCI® Equity Dividend Fund
Shares | Value ($) | ||
Common Stocks 99.4% | |||
Consumer Discretionary 2.8% | |||
Household Durables | |||
Garmin Ltd. | 168,769 | 29,438,377 | |
Consumer Staples 36.9% | |||
Beverages 2.4% | |||
PepsiCo, Inc. | 162,093 | 25,349,724 | |
Food & Staples Retailing 2.8% | |||
Kroger Co. | 643,684 | 29,628,775 | |
Food Products 19.3% | |||
Campbell Soup Co. (a) | 571,047 | 23,829,791 | |
Conagra Brands, Inc. | 746,741 | 24,732,062 | |
General Mills, Inc. | 428,691 | 24,782,627 | |
Hormel Foods Corp. | 535,237 | 24,374,693 | |
Kellogg Co. | 400,967 | 25,317,056 | |
The Hershey Co. | 143,357 | 25,474,539 | |
The JM Smucker Co. | 194,027 | 23,995,319 | |
Tyson Foods, Inc. "A" | 358,674 | 28,163,083 | |
200,669,170 | |||
Household Products 7.3% | |||
Colgate-Palmolive Co. | 304,287 | 23,719,172 | |
Kimberly-Clark Corp. | 188,292 | 25,948,520 | |
Procter & Gamble Co. | 181,652 | 25,865,428 | |
75,533,120 | |||
Tobacco 5.1% | |||
Altria Group, Inc. | 534,902 | 26,868,127 | |
Philip Morris International, Inc. | 255,751 | 26,342,353 | |
53,210,480 | |||
Financials 10.6% | |||
Banks 5.2% | |||
Citigroup, Inc. | 378,391 | 27,210,097 | |
JPMorgan Chase & Co. | 169,071 | 27,042,906 | |
54,253,003 | |||
Capital Markets 5.4% | |||
Bank of New York Mellon Corp. | 509,111 | 28,113,109 | |
State Street Corp. | 299,482 | 27,824,873 | |
55,937,982 | |||
Health Care 22.0% | |||
Biotechnology 7.3% | |||
AbbVie, Inc. | 216,594 | 26,160,223 |
Amgen, Inc. | 104,441 | 23,554,579 | |
Gilead Sciences, Inc. | 371,098 | 27,008,512 | |
76,723,314 | |||
Health Care Equipment & Supplies 2.5% | |||
Medtronic PLC | 196,197 | 26,188,376 | |
Health Care Providers & Services 2.2% | |||
Cardinal Health, Inc. | 430,203 | 22,581,355 | |
Pharmaceuticals 10.0% | |||
Bristol-Myers Squibb Co. | 378,755 | 25,323,560 | |
Johnson & Johnson | 148,637 | 25,733,524 | |
Merck & Co., Inc. | 328,047 | 25,026,705 | |
Pfizer, Inc. | 608,210 | 28,020,235 | |
104,104,024 | |||
Industrials 12.1% | |||
Aerospace & Defense 2.4% | |||
Lockheed Martin Corp. | 68,362 | 24,596,648 | |
Air Freight & Logistics 2.4% | |||
C.H. Robinson Worldwide, Inc. | 279,599 | 25,180,686 | |
Industrial Conglomerates 2.4% | |||
3M Co. | 128,569 | 25,037,527 | |
Machinery 4.9% | |||
Cummins, Inc. | 109,952 | 25,946,473 | |
PACCAR, Inc. | 304,431 | 24,923,766 | |
50,870,239 | |||
Information Technology 10.0% | |||
Communications Equipment 2.6% | |||
Cisco Systems, Inc. | 465,729 | 27,487,326 | |
IT Services 4.9% | |||
Amdocs Ltd. | 332,240 | 25,592,447 | |
International Business Machines Corp. | 179,993 | 25,260,218 | |
50,852,665 | |||
Semiconductors & Semiconductor Equipment 2.5% | |||
Intel Corp. | 488,007 | 26,381,658 | |
Utilities 5.0% | |||
Electric Utilities 2.5% | |||
PPL Corp. | 894,367 | 26,249,672 | |
Multi-Utilities 2.5% | |||
Sempra Energy | 193,909 | 25,665,795 | |
Total Common Stocks (Cost $917,761,372) | 1,035,939,916 | ||
Securities Lending Collateral 1.1% | |||
DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", 0.01% (b) (c) (Cost $11,411,400) | 11,411,400 | 11,411,400 | |
Cash Equivalents 0.5% | |||
DWS Central Cash Management Government Fund, 0.03% (b) (Cost $5,583,638) | 5,583,638 | 5,583,638 |
% of Net Assets | Value ($) | ||
Total Investment Portfolio (Cost $934,756,410) | 101.0 | 1,052,934,954 | |
Other Assets and Liabilities, Net | (1.0) | (10,723,812) | |
Net Assets | 100.0 | 1,042,211,142 |
For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.
A summary of the Fund’s transactions with affiliated investments during the period ended August 31, 2021 are as follows:
Value ($) at 11/30/2020 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/ (Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Income ($) | Capital Gain Distributions ($) | Number of Shares at 8/31/2021 | Value ($) at 8/31/2021 |
Securities Lending Collateral 1.1% | ||||||||
DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", 0.01% (b) (c) | ||||||||
627,550 | 10,783,850 (d) | — | — | — | 2,895 | — | 11,411,400 | 11,411,400 |
Cash Equivalents 0.5% | ||||||||
DWS Central Cash Management Government Fund, 0.03% (b) | ||||||||
8,114,907 | 107,801,346 | 110,332,615 | — | — | 1,312 | — | 5,583,638 | 5,583,638 |
8,742,457 | 118,585,196 | 110,332,615 | — | — | 4,207 | — | 16,995,038 | 16,995,038 |
(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 August 31, 2021 amounted to $11,338,041, which is 1.1% of net assets. |
(b) | Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end. |
(c) | Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates. |
(d) | Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended August 31, 2021. |
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 August 31, 2021 in valuing the Fund's investments.
Assets | Level 1 | Level 2 | Level 3 | Total |
Common Stocks (a) | $1,035,939,916 | $— | $— | $1,035,939,916 |
Short-Term Investments (a) | 16,995,038 | — | — | 16,995,038 |
Total | $1,052,934,954 | $— | $— | $1,052,934,954 |
(a) | See Investment Portfolio for additional detailed categorizations. |
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
DCEDF-PH3
R-080548-1 (1/23)