NPORT-P
    false
    
      
      
        
          0000088064
          XXXXXXXX
        
      
      
      
      
        S000005707
        C000015684
        C000015689
        C000015687
        C000015690
      
      
      
    
  
  
    
      DEUTSCHE DWS INVESTMENT TRUST
      811-00043
      0000088064
      C6V3ZVV42DUKQSHF6341
      875 Third Avenue
      NEW YORK
      
      10022-6225
      212-454-4500
      DWS Large Cap Focus Growth Fund
      S000005707
      N54P7WZ8V60FHYNTXB45
      2021-07-31
      2021-04-30
      N
    
    
      384413604.53
      8469612.30
      375943992.23
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      
        
        
        
        
        
      
      N
      
        
          
          
          
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        AZEK Co Inc/The
        N/A
        AZEK Co Inc/The
        05478C105
        
          
        
        53600.00000000
        NS
        USD
        2587808.00000000
        0.688349342850
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        salesforce.com Inc
        RCGZFPDMRW58VJ54VR07
        salesforce.com Inc
        79466L302
        
          
        
        32000.00000000
        NS
        USD
        7370240.00000000
        1.960462237016
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dollar General Corp
        OPX52SQVOZI8IVSWYU66
        Dollar General Corp
        256677105
        
          
        
        22600.00000000
        NS
        USD
        4853350.00000000
        1.290976874297
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AMETEK Inc
        549300WZDEF9KKE40E98
        AMETEK Inc
        031100100
        
          
        
        53300.00000000
        NS
        USD
        7191769.00000000
        1.912989474134
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Progressive Corp/The
        529900TACNVLY9DCR586
        Progressive Corp/The
        743315103
        
          
        
        106900.00000000
        NS
        USD
        10769106.00000000
        2.864550630566
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        McDonald's Corp
        UE2136O97NLB5BYP9H04
        McDonald's Corp
        580135101
        
          
        
        18200.00000000
        NS
        USD
        4296656.00000000
        1.142897902028
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Exact Sciences Corp
        549300VM3X1FYD4N9Z14
        Exact Sciences Corp
        30063P105
        
          
        
        24000.00000000
        NS
        USD
        3163680.00000000
        0.841529606906
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        agilon health Inc
        N/A
        agilon health Inc
        00857U107
        
          
        
        122000.00000000
        NS
        USD
        3846660.00000000
        1.023200285016
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Thermo Fisher Scientific Inc
        HCHV7422L5HDJZCRFL38
        Thermo Fisher Scientific Inc
        883556102
        
          
        
        28500.00000000
        NS
        USD
        13401555.00000000
        3.564774348568
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Costco Wholesale Corp
        29DX7H14B9S6O3FD6V18
        Costco Wholesale Corp
        22160K105
        
          
        
        18400.00000000
        NS
        USD
        6846456.00000000
        1.821137228284
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Berkeley Lights Inc
        549300LTLRE4N65CD358
        Berkeley Lights Inc
        084310101
        
          
        
        23400.00000000
        NS
        USD
        1149174.00000000
        0.305676915644
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Globant SA
        2221008DCMSPYS42DS88
        Globant SA
        000000000
        
          
        
        32500.00000000
        NS
        USD
        7448350.00000000
        1.981239268067
        Long
        EC
        CORP
        LU
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Advanced Micro Devices Inc
        R2I72C950HOYXII45366
        Advanced Micro Devices Inc
        007903107
        
          
        
        60000.00000000
        NS
        USD
        4897200.00000000
        1.302640845768
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vulcan Materials Co
        549300Q8LSNHAVWBNI21
        Vulcan Materials Co
        929160109
        
          
        
        12000.00000000
        NS
        USD
        2138880.00000000
        0.568935810707
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Alphabet Inc
        5493006MHB84DD0ZWV18
        Alphabet Inc
        02079K305
        
          
        
        9805.00000000
        NS
        USD
        23076067.50000000
        6.138166316508
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Visa Inc
        549300JZ4OKEHW3DPJ59
        Visa Inc
        92826C839
        
          
        
        64252.00000000
        NS
        USD
        15006697.12000000
        3.991737447640
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Quidel Corp
        549300X2FQ6S98OQLQ46
        Quidel Corp
        74838J101
        
          
        
        20000.00000000
        NS
        USD
        2095800.00000000
        0.557476656979
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zoetis Inc
        549300HD9Q1LOC9KLJ48
        Zoetis Inc
        98978V103
        
          
        
        45350.00000000
        NS
        USD
        7846910.50000000
        2.087255192842
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fiserv Inc
        GI7UBEJLXYLGR2C7GV83
        Fiserv Inc
        337738108
        
          
        
        67500.00000000
        NS
        USD
        8108100.00000000
        2.156730834267
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Norfolk Southern Corp
        54930036C8MWP850MI84
        Norfolk Southern Corp
        655844108
        
          
        
        9700.00000000
        NS
        USD
        2708628.00000000
        0.720487108713
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Microsoft Corp
        INR2EJN1ERAN0W5ZP974
        Microsoft Corp
        594918104
        
          
        
        137125.00000000
        NS
        USD
        34580182.50000000
        9.198227186682
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Intercontinental Exchange Inc
        5493000F4ZO33MV32P92
        Intercontinental Exchange Inc
        45866F104
        
          
        
        61000.00000000
        NS
        USD
        7180310.00000000
        1.909941413721
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Applied Materials Inc
        41BNNE1AFPNAZELZ6K07
        Applied Materials Inc
        038222105
        
          
        
        54100.00000000
        NS
        USD
        7179611.00000000
        1.909755481770
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NVIDIA Corp
        549300S4KLFTLO7GSQ80
        NVIDIA Corp
        67066G104
        
          
        
        17630.00000000
        NS
        USD
        10584699.40000000
        2.815499015482
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DWS
        5493003GD84DGSXJ7618
        DWS Central Cash Management Government Fund
        25160K306
        
          
        
        6893749.90000000
        NS
        USD
        6893749.90000000
        1.833717267061
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Eargo Inc
        N/A
        Eargo Inc
        270087109
        
          
        
        36600.00000000
        NS
        USD
        2094984.00000000
        0.557259603371
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Airbnb Inc
        549300HMUDNO0RY56D37
        Airbnb Inc
        009066101
        
          
        
        5550.00000000
        NS
        USD
        958540.50000000
        0.254968963412
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Activision Blizzard Inc
        549300TPQQDBP9GNOF40
        Activision Blizzard Inc
        00507V109
        
          
        
        62500.00000000
        NS
        USD
        5699375.00000000
        1.516017044505
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Netflix Inc
        549300Y7VHGU0I7CE873
        Netflix Inc
        64110L106
        
          
        
        11800.00000000
        NS
        USD
        6058946.00000000
        1.611661876563
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Intuitive Surgical Inc
        54930052SRG011710797
        Intuitive Surgical Inc
        46120E602
        
          
        
        7200.00000000
        NS
        USD
        6228000.00000000
        1.656629745047
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ecolab Inc
        82DYEISM090VG8LTLS26
        Ecolab Inc
        278865100
        
          
        
        15600.00000000
        NS
        USD
        3496272.00000000
        0.929998104042
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MediaAlpha Inc
        N/A
        MediaAlpha Inc
        58450V104
        
          
        
        80600.00000000
        NS
        USD
        3566550.00000000
        0.948691846049
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Home Depot Inc/The
        QEKMOTMBBKA8I816DO57
        Home Depot Inc/The
        437076102
        
          
        
        23700.00000000
        NS
        USD
        7670979.00000000
        2.040457929517
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DWS
        N/A
        DWS Government & Agency Securities Portfolio DWS Government Cash Institutional Shares
        147539670
        
          
        
        8082879.25000000
        NS
        USD
        8082879.25000000
        2.150022188692
        Long
        STIV
        RF
        US
        N
        
        1
        
          
          N
          N
        
      
      
        Clarivate PLC
        549300WDHIIODXFO0R55
        Clarivate PLC
        000000000
        
          
        
        262888.00000000
        NS
        USD
        7342461.84000000
        1.953073327876
        Long
        EC
        CORP
        JE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ServiceNow Inc
        549300HJTQM36M0E1G39
        ServiceNow Inc
        81762P102
        
          
        
        18000.00000000
        NS
        USD
        9114660.00000000
        2.424472843929
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dexcom Inc
        549300YSK3QDSFR5EU59
        Dexcom Inc
        252131107
        
          
        
        20000.00000000
        NS
        USD
        7722000.00000000
        2.054029365968
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        YETI Holdings Inc
        549300DSQICIGNT5GO63
        YETI Holdings Inc
        98585X104
        
          
        
        72069.00000000
        NS
        USD
        6156133.98000000
        1.637513594374
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CarMax Inc
        N/A
        CarMax Inc
        143130102
        
          
        
        39200.00000000
        NS
        USD
        5223008.00000000
        1.389304818789
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Roper Technologies Inc
        54930003T4SXCIWVXY35
        Roper Technologies Inc
        776696106
        
          
        
        13000.00000000
        NS
        USD
        5803720.00000000
        1.543772508658
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Schrodinger Inc/United States
        N/A
        Schrodinger Inc/United States
        80810D103
        
          
        
        22000.00000000
        NS
        USD
        1677280.00000000
        0.446151563707
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Datadog Inc
        549300F6JNO0KRPO1K63
        Datadog Inc
        23804L103
        
          
        
        17500.00000000
        NS
        USD
        1500975.00000000
        0.399254950477
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DocuSign Inc
        549300Q7PVDWRZ39JG09
        DocuSign Inc
        256163106
        
          
        
        15200.00000000
        NS
        USD
        3388688.00000000
        0.901381075382
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Certara Inc
        N/A
        Certara Inc
        15687V109
        
          
        
        40000.00000000
        NS
        USD
        1272400.00000000
        0.338454670455
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Apple Inc
        HWUPKR0MPOU8FGXBT394
        Apple Inc
        037833100
        
          
        
        259830.00000000
        NS
        USD
        34157251.80000000
        9.085728860139
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Chewy Inc
        N/A
        Chewy Inc
        16679L109
        
          
        
        44100.00000000
        NS
        USD
        3515652.00000000
        0.935153127237
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Oscar Health Inc
        N/A
        Oscar Health Inc
        687793109
        
          
        
        28700.00000000
        NS
        USD
        652351.00000000
        0.173523453887
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        T-Mobile US Inc
        549300QHIJYOHPACPG31
        T-Mobile US Inc
        872590104
        
          
        
        42200.00000000
        NS
        USD
        5575886.00000000
        1.483169332465
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Equinix Inc
        549300EVUN2BTLJ3GT74
        Equinix Inc
        29444U700
        
          
        
        9695.00000000
        NS
        USD
        6987768.20000000
        1.858725859283
        Long
        EC
        
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Amazon.com Inc
        ZXTILKJKG63JELOEG630
        Amazon.com Inc
        023135106
        
          
        
        7327.00000000
        NS
        USD
        25405786.34000000
        6.757864699286
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PPD Inc
        N/A
        PPD Inc
        69355F102
        
          
        
        82800.00000000
        NS
        USD
        3825360.00000000
        1.017534547449
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hologic Inc
        549300DYP6F5ZJL0LB74
        Hologic Inc
        436440101
        
          
        
        90000.00000000
        NS
        USD
        5899500.00000000
        1.569249707916
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
    
    
      
    
    
      2021-05-27
      DEUTSCHE DWS INVESTMENT TRUST
      Diane Kenneally
      Diane Kenneally
      Treasurer and Chief Financial Officer
    
  
  XXXX
Investment Portfolio as of April 30, 2021 (Unaudited)
DWS Large Cap Focus Growth Fund
    Shares Value ($)
Common Stocks 98.2%  
Communication Services 11.7%  
Entertainment 3.1%  
Activision Blizzard, Inc.      62,500   5,699,375
Netflix, Inc.*      11,800   6,058,946
      11,758,321
Interactive Media & Services 7.1%  
Alphabet, Inc. "A"*       9,805  23,076,068
MediaAlpha, Inc. "A"*      80,600   3,566,550
      26,642,618
Wireless Telecommunication Services 1.5%  
T-Mobile U.S., Inc.*      42,200   5,575,886
Consumer Discretionary 15.5%  
Hotels, Restaurants & Leisure 1.4%  
Airbnb, Inc. "A"* (a)   5,550 958,541
McDonald's Corp.   18,200 4,296,656
      5,255,197
Internet & Direct Marketing Retail 7.7%  
Amazon.com, Inc.*   7,327 25,405,786
Chewy, Inc. "A"* (a)   44,100 3,515,652
      28,921,438
Leisure Products 1.7%  
YETI Holdings, Inc.*   72,069 6,156,134
Multiline Retail 1.3%  
Dollar General Corp.   22,600 4,853,350
Specialty Retail 3.4%  
CarMax, Inc.*   39,200 5,223,008
Home Depot, Inc.   23,700 7,670,979
      12,893,987
Consumer Staples 1.8%  
Food & Staples Retailing  
Costco Wholesale Corp.   18,400 6,846,456
Financials 4.9%  
Capital Markets 1.9%  
Intercontinental Exchange, Inc.   61,000 7,180,310
Insurance 3.0%  
Oscar Health, Inc. "A"* (a)   28,700 652,351
Progressive Corp.   106,900 10,769,106
      11,421,457
Health Care 16.0%  
Biotechnology 0.8%  
Exact Sciences Corp.*      24,000   3,163,680
Health Care Equipment & Supplies 7.4%  
agilon health, Inc.*     122,000   3,846,660
DexCom, Inc.*      20,000   7,722,000
Eargo, Inc.* (a)      36,600   2,094,984
Hologic, Inc.*      90,000   5,899,500
Intuitive Surgical, Inc.*       7,200   6,228,000
Quidel Corp.*      20,000   2,095,800
      27,886,944
Health Care Technology 0.8%  
Certara, Inc.*      40,000   1,272,400
Schrodinger, Inc.*      22,000   1,677,280
      2,949,680
Life Sciences Tools & Services 4.9%  
Berkeley Lights, Inc.*   23,400 1,149,174
PPD, Inc.*   82,800 3,825,360
Thermo Fisher Scientific, Inc.   28,500 13,401,555
      18,376,089
Pharmaceuticals 2.1%  
Zoetis, Inc.   45,350 7,846,910
Industrials 6.8%  
Building Products 0.7%  
AZEK Co., Inc.*   53,600 2,587,808
Electrical Equipment 1.9%  
AMETEK, Inc.   53,300 7,191,769
Industrial Conglomerates 1.5%  
Roper Technologies, Inc.   13,000 5,803,720
Professional Services 2.0%  
Clarivate PLC*   262,888 7,342,462
Road & Rail 0.7%  
Norfolk Southern Corp.   9,700 2,708,628
Information Technology 38.1%  
IT Services 8.1%  
Fiserv, Inc.*   67,500 8,108,100
Globant SA*   32,500 7,448,350
Visa, Inc. "A" (a)   64,252 15,006,697
      30,563,147
Semiconductors & Semiconductor Equipment 6.0%  
Advanced Micro Devices, Inc.*   60,000 4,897,200
Applied Materials, Inc.   54,100 7,179,611
NVIDIA Corp.   17,630 10,584,699
      22,661,510
Software 14.9%  
Datadog, Inc. "A"*   17,500 1,500,975
DocuSign, Inc.*   15,200 3,388,688
Microsoft Corp.     137,125  34,580,183
salesforce.com, Inc.*      32,000   7,370,240
ServiceNow, Inc.*      18,000   9,114,660
      55,954,746
Technology Hardware, Storage & Peripherals 9.1%  
Apple, Inc.     259,830  34,157,252
Materials 1.5%  
Chemicals 0.9%  
Ecolab, Inc.      15,600   3,496,272
Construction Materials 0.6%  
Vulcan Materials Co.      12,000   2,138,880
Real Estate 1.9%  
Equity Real Estate Investment Trusts (REITs)  
Equinix, Inc.       9,695   6,987,768
Total Common Stocks (Cost $144,594,053) 369,322,419
Securities Lending Collateral 2.2%
DWS Government & Agency Securities Portfolio “DWS Government Cash Institutional Shares”, 0.01% (b) (c)
(Cost $8,082,879) 		  8,082,879 8,082,879
Cash Equivalents 1.8%
DWS Central Cash Management Government Fund, 0.02% (b) (Cost $6,893,750)   6,893,750 6,893,750
    % of
Net Assets 		Value ($)
Total Investment Portfolio (Cost $159,570,682)   102.2 384,299,048
Other Assets and Liabilities, Net   (2.2) (8,319,991)
Net Assets   100.0 375,979,057
For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.
A summary of the Fund’s transactions with affiliated investments during the period ended April 30, 2021 are as follows:
Value ($) at
7/31/2020 		Purchases
Cost ($) 		Sales
Proceeds ($) 		Net Realized
Gain/
(Loss) ($) 		Net Change in
Unrealized
Appreciation
(Depreciation) ($) 		Income ($) Capital Gain
Distributions ($) 		Number
of Shares
at
4/30/2021 		Value ($) at
4/30/2021
Securities Lending Collateral 2.2%
DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", 0.01% (b) (c)
19,822,510 — 11,739,631 (d) — — 34,603 — 8,082,879 8,082,879
Cash Equivalents 1.8%
DWS Central Cash Management Government Fund, 0.02% (b)
4,452,761 52,203,747 49,762,758 — — 2,855 — 6,893,750 6,893,750
24,275,271 52,203,747 61,502,389 — — 37,458 — 14,976,629 14,976,629
* Non-income producing security.
(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 April 30, 2021 amounted to $7,793,738, which is 2.1% 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 April 30, 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 April 30, 2021 in valuing the Fund's investments.
Assets Level 1 Level 2 Level 3 Total
Common Stocks (a) $369,322,419 $— $— $369,322,419
Short-Term Investments (a) 14,976,629 — — 14,976,629
Total $384,299,048 $— $— $384,299,048
(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
DLCFGF-PH3
R-080548-1 (1/23)