|
|
|
Shares
|
Value ($)
|
|
|
|||
|
Common Stocks 88.8%
|
|
||
|
Communication Services 10.2%
|
|
||
|
Diversified Telecommunication Services 0.3%
|
|
||
|
AT&T, Inc.
|
|
4,039
|
112,284
|
|
Verizon Communications, Inc.
|
|
2,544
|
111,834
|
|
|
|
|
224,118
|
|
Entertainment 2.0%
|
|
||
|
Electronic Arts, Inc.
|
|
495
|
71,171
|
|
Netflix, Inc.*
|
|
962
|
1,161,356
|
|
Walt Disney Co.
|
|
4,154
|
469,568
|
|
|
|
|
1,702,095
|
|
Interactive Media & Services 7.6%
|
|
||
|
Alphabet, Inc. "A"
|
|
12,469
|
2,141,426
|
|
Alphabet, Inc. "C"
|
|
10,397
|
1,797,121
|
|
Meta Platforms, Inc. "A"
|
|
3,855
|
2,496,074
|
|
|
|
|
6,434,621
|
|
Media 0.1%
|
|
||
|
Comcast Corp. "A"
|
|
2,000
|
69,140
|
|
Wireless Telecommunication Services 0.2%
|
|
||
|
T-Mobile U.S., Inc.
|
|
825
|
199,815
|
|
Consumer Discretionary 5.3%
|
|
||
|
Automobile Components 0.2%
|
|
||
|
Aptiv PLC*
|
|
1,868
|
124,801
|
|
Automobiles 0.1%
|
|
||
|
General Motors Co.
|
|
1,700
|
84,337
|
|
Broadline Retail 3.8%
|
|
||
|
Amazon.com, Inc.*
|
|
15,798
|
3,238,748
|
|
Hotels, Restaurants & Leisure 0.7%
|
|
||
|
Booking Holdings, Inc.
|
|
51
|
281,465
|
|
Chipotle Mexican Grill, Inc.*
|
|
2,200
|
110,176
|
|
Expedia Group, Inc.
|
|
250
|
41,688
|
|
Starbucks Corp.
|
|
1,433
|
120,300
|
|
|
|
|
553,629
|
|
Specialty Retail 0.2%
|
|
||
|
Home Depot, Inc.
|
|
519
|
191,143
|
|
Textiles, Apparel & Luxury Goods 0.3%
|
|
||
|
Lululemon Athletica, Inc.*
|
|
300
|
95,001
|
|
NIKE, Inc. "B"
|
|
2,500
|
151,475
|
|
|
|
|
246,476
|
|
Consumer Staples 2.8%
|
|
||
|
Beverages 1.3%
|
|
||
|
Brown-Forman Corp. "B"
|
|
800
|
26,672
|
|
Coca-Cola Co.
|
|
4,884
|
352,136
|
|
Constellation Brands, Inc. "A"
|
|
620
|
110,540
|
|
Keurig Dr Pepper, Inc.
|
|
1,291
|
43,468
|
|
Monster Beverage Corp.*
|
|
1,273
|
81,408
|
|
PepsiCo, Inc.
|
|
3,346
|
439,832
|
|
|
|
|
1,054,056
|
|
Consumer Staples Distribution & Retail 0.9%
|
|
||
|
Costco Wholesale Corp.
|
|
335
|
348,460
|
|
Sysco Corp.
|
|
1,051
|
76,723
|
|
Target Corp.
|
|
800
|
75,208
|
|
Walmart, Inc.
|
|
2,882
|
284,511
|
|
|
|
|
784,902
|
|
Household Products 0.6%
|
|
||
|
Procter & Gamble Co.
|
|
2,942
|
499,817
|
|
Energy 0.9%
|
|
||
|
Energy Equipment & Services 0.9%
|
|
||
|
Baker Hughes Co.
|
|
7,713
|
285,767
|
|
Halliburton Co.
|
|
7,228
|
141,597
|
|
Schlumberger NV
|
|
9,270
|
306,373
|
|
|
|
|
733,737
|
|
Financials 17.1%
|
|
||
|
Banks 5.5%
|
|
||
|
Bank of America Corp.
|
|
19,465
|
858,990
|
|
Citigroup, Inc.
|
|
6,406
|
482,500
|
|
Citizens Financial Group, Inc.
|
|
1,350
|
54,472
|
|
Fifth Third Bancorp.
|
|
1,900
|
72,561
|
|
Huntington Bancshares, Inc.
|
|
3,900
|
60,957
|
|
JPMorgan Chase & Co.
|
|
6,131
|
1,618,584
|
|
KeyCorp.
|
|
3,300
|
52,338
|
|
M&T Bank Corp.
|
|
468
|
85,476
|
|
PNC Financial Services Group, Inc.
|
|
1,381
|
240,032
|
|
Regions Financial Corp.
|
|
2,700
|
57,888
|
|
Truist Financial Corp.
|
|
4,375
|
172,812
|
|
U.S. Bancorp.
|
|
5,540
|
241,489
|
|
Wells Fargo & Co.
|
|
8,253
|
617,159
|
|
|
|
|
4,615,258
|
|
Capital Markets 3.2%
|
|
||
|
Ameriprise Financial, Inc.
|
|
200
|
101,848
|
|
Bank of New York Mellon Corp.
|
|
1,700
|
150,637
|
|
Blackrock, Inc.
|
|
355
|
347,861
|
|
Blackstone, Inc.
|
|
700
|
97,132
|
|
Cboe Global Markets, Inc.
|
|
200
|
45,824
|
|
Charles Schwab Corp.
|
|
3,350
|
295,939
|
|
CME Group, Inc.
|
|
450
|
130,050
|
|
Intercontinental Exchange, Inc.
|
|
1,300
|
233,740
|
|
Invesco Ltd.
|
|
2,600
|
37,596
|
|
Moody's Corp.
|
|
200
|
95,864
|
|
Morgan Stanley
|
|
2,600
|
332,878
|
|
Nasdaq, Inc.
|
|
700
|
58,478
|
|
Northern Trust Corp.
|
|
650
|
69,381
|
|
Raymond James Financial, Inc.
|
|
300
|
44,094
|
|
S&P Global, Inc.
|
|
400
|
205,144
|
|
State Street Corp.
|
|
950
|
91,466
|
|
T. Rowe Price Group, Inc.
|
|
700
|
65,513
|
|
The Goldman Sachs Group, Inc.
|
|
525
|
315,236
|
|
|
|
|
2,718,681
|
|
Consumer Finance 0.3%
|
|
||
|
American Express Co.
|
|
690
|
202,895
|
|
Financial Services 4.1%
|
|
||
|
Berkshire Hathaway, Inc. "B"*
|
|
2,846
|
1,434,270
|
|
Fidelity National Information Services, Inc.
|
|
885
|
70,455
|
|
Fiserv, Inc.*
|
|
947
|
154,162
|
|
Global Payments, Inc.
|
|
439
|
33,193
|
|
Jack Henry & Associates, Inc.
|
|
180
|
32,611
|
|
Mastercard, Inc. "A"
|
|
1,160
|
679,296
|
|
PayPal Holdings, Inc.*
|
|
2,283
|
160,449
|
|
Visa, Inc. "A"
|
|
2,480
|
905,671
|
|
|
|
|
3,470,107
|
|
Insurance 4.0%
|
|
||
|
Aflac, Inc.
|
|
1,755
|
181,713
|
|
Allstate Corp.
|
|
906
|
190,142
|
|
American International Group, Inc.
|
|
2,282
|
193,148
|
|
Aon PLC "A"
|
|
686
|
255,247
|
|
Arch Capital Group Ltd.
|
|
957
|
90,953
|
|
Arthur J. Gallagher & Co.
|
|
607
|
210,896
|
|
Assurant, Inc.
|
|
171
|
34,710
|
|
Brown & Brown, Inc.
|
|
655
|
73,950
|
|
Chubb Ltd.
|
|
1,067
|
317,112
|
|
Cincinnati Financial Corp.
|
|
465
|
70,131
|
|
Erie Indemnity Co. "A"
|
|
60
|
21,511
|
|
Everest Group Ltd.
|
|
130
|
45,135
|
|
Globe Life, Inc.
|
|
264
|
32,174
|
|
Hartford Insurance Group, Inc.
|
|
1,027
|
133,346
|
|
Loews Corp.
|
|
560
|
50,002
|
|
Marsh & McLennan Companies, Inc.
|
|
1,350
|
315,441
|
|
MetLife, Inc.
|
|
2,186
|
171,776
|
|
Principal Financial Group, Inc.
|
|
807
|
62,857
|
|
Progressive Corp.
|
|
1,481
|
421,981
|
|
Prudential Financial, Inc.
|
|
1,427
|
148,251
|
|
Travelers Companies, Inc.
|
|
763
|
210,359
|
|
W.R. Berkley Corp.
|
|
882
|
65,877
|
|
Willis Towers Watson PLC
|
|
319
|
100,979
|
|
|
|
|
3,397,691
|
|
Health Care 12.6%
|
|
||
|
Biotechnology 3.1%
|
|
||
|
AbbVie, Inc.
|
|
4,582
|
852,756
|
|
Amgen, Inc.
|
|
1,783
|
513,825
|
|
Biogen, Inc.*
|
|
482
|
62,559
|
|
Gilead Sciences, Inc.
|
|
4,454
|
490,296
|
|
Incyte Corp.*
|
|
601
|
39,101
|
|
Moderna, Inc.*
|
|
2,403
|
63,824
|
|
Regeneron Pharmaceuticals, Inc.
|
|
389
|
190,719
|
|
Vertex Pharmaceuticals, Inc.*
|
|
962
|
425,252
|
|
|
|
|
2,638,332
|
|
Health Care Equipment & Supplies 4.1%
|
|
||
|
Abbott Laboratories
|
|
4,572
|
610,728
|
|
Align Technology, Inc.*
|
|
337
|
60,977
|
|
Baxter International, Inc.
|
|
1,546
|
47,153
|
|
Becton Dickinson & Co.
|
|
1,289
|
222,469
|
|
Boston Scientific Corp.*
|
|
3,909
|
411,461
|
|
Dexcom, Inc.*
|
|
1,340
|
114,972
|
|
Edwards Lifesciences Corp.*
|
|
2,042
|
159,725
|
|
GE HealthCare Technologies, Inc.
|
|
1,638
|
115,545
|
|
Hologic, Inc.*
|
|
861
|
53,528
|
|
IDEXX Laboratories, Inc.*
|
|
237
|
121,666
|
|
Insulet Corp.*
|
|
170
|
55,255
|
|
Intuitive Surgical, Inc.*
|
|
826
|
456,233
|
|
Medtronic PLC
|
|
4,446
|
368,929
|
|
ResMed, Inc.
|
|
472
|
115,541
|
|
STERIS PLC
|
|
285
|
69,885
|
|
Stryker Corp.
|
|
1,007
|
385,319
|
|
The Cooper Companies, Inc.*
|
|
680
|
46,430
|
|
Zimmer Biomet Holdings, Inc.
|
|
819
|
75,487
|
|
|
|
|
3,491,303
|
|
Health Care Providers & Services 0.8%
|
|
||
|
Labcorp Holdings, Inc.
|
|
250
|
62,242
|
|
UnitedHealth Group, Inc.
|
|
1,979
|
597,480
|
|
|
|
|
659,722
|
|
Life Sciences Tools & Services 0.2%
|
|
||
|
Agilent Technologies, Inc.
|
|
500
|
55,960
|
|
Danaher Corp.
|
|
200
|
37,980
|
|
Thermo Fisher Scientific, Inc.
|
|
150
|
60,423
|
|
|
|
|
154,363
|
|
Pharmaceuticals 4.4%
|
|
||
|
Bristol-Myers Squibb Co.
|
|
7,829
|
377,984
|
|
Eli Lilly & Co.
|
|
1,673
|
1,234,122
|
|
Johnson & Johnson
|
|
5,562
|
863,278
|
|
Merck & Co., Inc.
|
|
7,469
|
573,918
|
|
Pfizer, Inc.
|
|
17,120
|
402,149
|
|
Viatris, Inc.
|
|
3,288
|
28,901
|
|
Zoetis, Inc.
|
|
1,324
|
223,266
|
|
|
|
|
3,703,618
|
|
Industrials 5.4%
|
|
||
|
Aerospace & Defense 2.7%
|
|
||
|
GE Aerospace
|
|
1,761
|
433,047
|
|
General Dynamics Corp.
|
|
925
|
257,603
|
|
Howmet Aerospace, Inc.
|
|
498
|
84,605
|
|
L3Harris Technologies, Inc.
|
|
479
|
117,039
|
|
Lockheed Martin Corp.
|
|
741
|
357,444
|
|
Northrop Grumman Corp.
|
|
597
|
289,408
|
|
RTX Corp.
|
|
4,594
|
626,989
|
|
Textron, Inc.
|
|
438
|
32,425
|
|
TransDigm Group, Inc.
|
|
90
|
132,159
|
|
|
|
|
2,330,719
|
|
Air Freight & Logistics 0.6%
|
|
||
|
Expeditors International of Washington, Inc.
|
|
400
|
45,092
|
|
FedEx Corp.
|
|
750
|
163,575
|
|
United Parcel Service, Inc. "B"
|
|
2,800
|
273,112
|
|
|
|
|
481,779
|
|
Electrical Equipment 1.3%
|
|
||
|
AMETEK, Inc.
|
|
987
|
176,417
|
|
Eaton Corp. PLC
|
|
1,571
|
503,034
|
|
Emerson Electric Co.
|
|
2,172
|
259,293
|
|
Hubbell, Inc.
|
|
200
|
77,916
|
|
Rockwell Automation, Inc.
|
|
268
|
84,568
|
|
|
|
|
1,101,228
|
|
Ground Transportation 0.2%
|
|
||
|
Uber Technologies, Inc.*
|
|
1,800
|
151,488
|
|
Industrial Conglomerates 0.1%
|
|
||
|
Honeywell International, Inc.
|
|
354
|
80,241
|
|
Machinery 0.5%
|
|
||
|
Cummins, Inc.
|
|
210
|
67,511
|
|
Fortive Corp.
|
|
500
|
35,095
|
|
PACCAR, Inc.
|
|
900
|
84,465
|
|
Parker-Hannifin Corp.
|
|
235
|
156,204
|
|
Pentair PLC
|
|
404
|
40,069
|
|
Xylem, Inc.
|
|
500
|
63,020
|
|
|
|
|
446,364
|
|
Information Technology 29.2%
|
|
||
|
Communications Equipment 0.7%
|
|
||
|
Arista Networks, Inc.*
|
|
2,200
|
190,608
|
|
Cisco Systems, Inc.
|
|
3,881
|
244,658
|
|
Motorola Solutions, Inc.
|
|
297
|
123,368
|
|
|
|
|
558,634
|
|
Electronic Equipment, Instruments & Components 0.5%
|
|
||
|
Amphenol Corp. "A"
|
|
2,600
|
233,818
|
|
Corning, Inc.
|
|
2,100
|
104,139
|
|
TE Connectivity PLC
|
|
600
|
96,042
|
|
|
|
|
433,999
|
|
IT Services 1.7%
|
|
||
|
Accenture PLC "A"
|
|
1,725
|
546,514
|
|
Cognizant Technology Solutions Corp. "A"
|
|
1,611
|
130,475
|
|
EPAM Systems, Inc.*
|
|
161
|
28,093
|
|
International Business Machines Corp.
|
|
2,502
|
648,168
|
|
VeriSign, Inc.
|
|
180
|
49,045
|
|
|
|
|
1,402,295
|
|
Semiconductors & Semiconductor Equipment 9.9%
|
|
||
|
Advanced Micro Devices, Inc.*
|
|
4,648
|
514,673
|
|
Applied Materials, Inc.
|
|
2,007
|
314,597
|
|
Broadcom, Inc.
|
|
5,170
|
1,251,502
|
|
Intel Corp.
|
|
7,100
|
138,805
|
|
KLA Corp.
|
|
289
|
218,738
|
|
Lam Research Corp.
|
|
3,260
|
263,376
|
|
Micron Technology, Inc.
|
|
4,100
|
387,286
|
|
Monolithic Power Systems, Inc.
|
|
80
|
52,952
|
|
NVIDIA Corp.
|
|
35,510
|
4,798,466
|
|
QUALCOMM, Inc.
|
|
2,791
|
405,253
|
|
Texas Instruments, Inc.
|
|
300
|
54,855
|
|
|
|
|
8,400,503
|
|
Software 10.8%
|
|
||
|
Adobe, Inc.*
|
|
1,206
|
500,599
|
|
Crowdstrike Holdings, Inc. "A"*
|
|
200
|
94,274
|
|
Intuit, Inc.
|
|
554
|
417,422
|
|
Microsoft Corp.
|
|
13,323
|
6,133,376
|
|
Oracle Corp.
|
|
2,985
|
494,107
|
|
Palo Alto Networks, Inc.*
|
|
300
|
57,726
|
|
Roper Technologies, Inc.
|
|
229
|
130,592
|
|
Salesforce, Inc.
|
|
2,634
|
698,985
|
|
ServiceNow, Inc.*
|
|
428
|
432,747
|
|
Synopsys, Inc.*
|
|
338
|
156,825
|
|
|
|
|
9,116,653
|
|
Technology Hardware, Storage & Peripherals 5.6%
|
|
||
|
Apple, Inc.
|
|
22,019
|
4,422,516
|
|
Dell Technologies, Inc. "C"
|
|
500
|
55,635
|
|
Hewlett Packard Enterprise Co.
|
|
2,300
|
39,744
|
|
HP, Inc.
|
|
1,500
|
37,350
|
|
NetApp, Inc.
|
|
650
|
64,454
|
|
Seagate Technology Holdings PLC
|
|
600
|
70,764
|
|
Western Digital Corp.*
|
|
800
|
41,240
|
|
|
|
|
4,731,703
|
|
Materials 1.1%
|
|
||
|
Chemicals 0.8%
|
|
||
|
Air Products & Chemicals, Inc.
|
|
323
|
90,088
|
|
Corteva, Inc.
|
|
1,291
|
91,403
|
|
DuPont de Nemours, Inc.
|
|
723
|
48,296
|
|
Ecolab, Inc.
|
|
498
|
132,279
|
|
Linde PLC
|
|
575
|
268,858
|
|
PPG Industries, Inc.
|
|
440
|
48,752
|
|
The Mosaic Co.
|
|
711
|
25,696
|
|
|
|
|
705,372
|
|
Metals & Mining 0.3%
|
|
||
|
Freeport-McMoRan, Inc.
|
|
3,600
|
138,528
|
|
Newmont Corp.
|
|
2,326
|
122,627
|
|
|
|
|
261,155
|
|
Real Estate 0.4%
|
|
||
|
Office REITs 0.1%
|
|
||
|
BXP, Inc.
|
|
500
|
33,665
|
|
Real Estate Management & Development 0.1%
|
|
||
|
CBRE Group, Inc. "A"*
|
|
800
|
100,016
|
|
Retail REITs 0.1%
|
|
||
|
Simon Property Group, Inc.
|
|
600
|
97,842
|
|
Specialized REITs 0.1%
|
|
||
|
American Tower Corp.
|
|
342
|
73,410
|
|
Utilities 3.8%
|
|
||
|
Electric Utilities 2.8%
|
|
||
|
Alliant Energy Corp.
|
|
495
|
30,804
|
|
American Electric Power Co., Inc.
|
|
2,024
|
209,464
|
|
Constellation Energy Corp.
|
|
850
|
260,227
|
|
Duke Energy Corp.
|
|
2,438
|
287,001
|
|
Edison International
|
|
1,092
|
60,770
|
|
Entergy Corp.
|
|
1,400
|
116,592
|
|
Evergy, Inc.
|
|
626
|
41,573
|
|
Eversource Energy
|
|
1,002
|
64,939
|
|
Exelon Corp.
|
|
3,887
|
170,328
|
|
FirstEnergy Corp.
|
|
1,849
|
77,547
|
|
NextEra Energy, Inc.
|
|
6,326
|
446,869
|
|
NRG Energy, Inc.
|
|
253
|
39,443
|
|
PG&E Corp.
|
|
4,800
|
81,024
|
|
PPL Corp.
|
|
1,337
|
46,461
|
|
Southern Co.
|
|
3,535
|
318,150
|
|
Xcel Energy, Inc.
|
|
2,132
|
149,453
|
|
|
|
|
2,400,645
|
|
Gas Utilities 0.1%
|
|
||
|
Atmos Energy Corp.
|
|
321
|
49,652
|
|
Multi-Utilities 0.9%
|
|
||
|
Ameren Corp.
|
|
480
|
46,502
|
|
CenterPoint Energy, Inc.
|
|
1,200
|
44,688
|
|
CMS Energy Corp.
|
|
600
|
42,138
|
|
Consolidated Edison, Inc.
|
|
400
|
41,796
|
|
Dominion Energy, Inc.
|
|
3,350
|
189,845
|
|
DTE Energy Co.
|
|
500
|
68,325
|
|
Public Service Enterprise Group, Inc.
|
|
1,550
|
125,597
|
|
Sempra
|
|
2,300
|
180,757
|
|
|
|
|
739,648
|
|
Total Common Stocks (Cost $54,692,215)
|
74,890,416
|
||
|
|
|||
|
Exchange-Traded Funds 2.2%
|
|||
|
Energy Select Sector SPDR Fund (Cost $1,611,237)
|
|
23,122
|
1,885,137
|
|
|
|||
|
Cash Equivalents 9.1%
|
|||
|
DWS Central Cash Management Government Fund, 4.34% (a) (Cost $7,632,269)
|
|
7,632,269
|
7,632,269
|
|
|
|||
|
|
|
% of
Net Assets
|
Value ($)
|
|
Total Investment Portfolio (Cost $63,935,721)
|
|
100.1
|
84,407,822
|
|
Other Assets and Liabilities, Net
|
|
(0.1
)
|
(45,222
)
|
|
Net Assets
|
|
100.0
|
84,362,600
|
|
Value ($) at
8/31/2024
|
Purchases
Cost ($)
|
Sales
Proceeds ($)
|
Net Realized
Gain/
(Loss) ($)
|
Net Change in
Unrealized
Appreciation
(Depreciation) ($)
|
Income ($)
|
Capital Gain
Distributions ($)
|
Number
of Shares
at
5/31/2025
|
Value ($) at
5/31/2025
|
|
Securities Lending Collateral 0.0%
|
||||||||
|
DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares",
4.22% (a) (b)
|
||||||||
|
—
|
0 (c)
|
—
|
—
|
—
|
60
|
—
|
—
|
—
|
|
Cash Equivalents 9.1%
|
||||||||
|
DWS Central Cash Management Government Fund, 4.34% (a)
|
||||||||
|
6,338,919
|
16,216,322
|
14,922,972
|
—
|
—
|
144,783
|
—
|
7,632,269
|
7,632,269
|
|
6,338,919
|
16,216,322
|
14,922,972
|
—
|
—
|
144,843
|
—
|
7,632,269
|
7,632,269
|
|
*
|
Non-income producing security.
|
|
(a)
|
Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown
is the annualized seven-day yield at
period end.
|
|
(b)
|
Represents cash collateral held in connection with securities lending. Income earned
by the Fund is net of borrower rebates.
|
|
(c)
|
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount
invested in cash collateral for the period
ended May 31, 2025.
|
|
REIT: Real Estate Investment Trust
|
|
SPDR: Standard & Poor's Depositary Receipt
|
|
Assets
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Common Stocks (a)
|
$74,890,416
|
$—
|
$—
|
$74,890,416
|
|
Exchange-Traded Funds
|
1,885,137
|
—
|
—
|
1,885,137
|
|
Short-Term Investments
|
7,632,269
|
—
|
—
|
7,632,269
|
|
Total
|
$84,407,822
|
$—
|
$—
|
$84,407,822
|
|
(a)
|
See Investment Portfolio for additional detailed categorizations.
|