|
|
|
Shares
|
Value ($)
|
|
|
|||
|
Common Stocks 98.8%
|
|
||
|
Canada 5.1%
|
|
||
|
Agnico Eagle Mines Ltd.
|
|
54,200
|
9,965,267
|
|
Brookfield Corp.
|
|
295,719
|
13,472,680
|
|
Shopify, Inc. "A"*
|
|
16,000
|
1,908,070
|
|
(Cost $6,586,415)
|
|
|
25,346,017
|
|
China 4.1%
|
|
||
|
ANTA Sports Products Ltd.
|
|
194,600
|
1,882,209
|
|
BYD Co., Ltd. "H"
|
|
166,500
|
1,939,727
|
|
Ping An Insurance Group Co. of China Ltd. "H"
|
|
969,000
|
7,424,932
|
|
Tencent Holdings Ltd.
|
|
163,800
|
8,928,959
|
|
(Cost $17,425,745)
|
|
|
20,175,827
|
|
Denmark 0.4%
|
|
||
|
Novo Nordisk A/S "B" (Cost $2,631,559)
|
|
42,179
|
1,928,343
|
|
Finland 1.0%
|
|
||
|
Amer Sports, Inc.*
|
|
87,664
|
3,119,085
|
|
Nokia Oyj
|
|
139,400
|
2,030,826
|
|
(Cost $2,875,583)
|
|
|
5,149,911
|
|
France 10.9%
|
|
||
|
Air Liquide SA
|
|
31,300
|
6,501,400
|
|
Capgemini SE*
|
|
19,024
|
2,262,229
|
|
Cie de Saint-Gobain SA
|
|
58,633
|
5,352,164
|
|
EssilorLuxottica SA
|
|
5,730
|
1,170,610
|
|
LVMH Moet Hennessy Louis Vuitton SE
|
|
3,298
|
1,819,722
|
|
Safran SA
|
|
13,900
|
4,956,301
|
|
Schneider Electric SE
|
|
34,000
|
10,705,567
|
|
SPIE SA
|
|
25,100
|
1,431,627
|
|
TotalEnergies SE
|
|
104,118
|
9,130,100
|
|
Vinci SA
|
|
73,964
|
10,788,263
|
|
(Cost $37,386,602)
|
|
|
54,117,983
|
|
Germany 9.8%
|
|
||
|
adidas AG
|
|
17,135
|
3,329,711
|
|
Allianz SE (Registered)
|
|
32,971
|
14,675,331
|
|
Auto1 Group SE*
|
|
145,814
|
3,877,765
|
|
Deutsche Boerse AG
|
|
31,061
|
8,970,435
|
|
MTU Aero Engines AG
|
|
10,860
|
3,968,603
|
|
RWE AG
|
|
33,883
|
2,156,272
|
|
SAP SE
|
|
22,000
|
3,984,095
|
|
Siemens Energy AG
|
|
21,795
|
4,149,836
|
|
Siemens Healthineers AG 144A
|
|
89,019
|
3,625,804
|
|
(Cost $32,845,339)
|
|
|
48,737,852
|
|
Hong Kong 1.8%
|
|
||
|
Alibaba Group Holding Ltd.
|
|
248,700
|
3,836,700
|
|
Techtronic Industries Co., Ltd.
|
|
335,501
|
4,978,852
|
|
(Cost $6,012,772)
|
|
|
8,815,552
|
|
Ireland 2.3%
|
|
||
|
CRH PLC
|
|
33,767
|
3,673,512
|
|
Experian PLC
|
|
78,880
|
2,733,238
|
|
Kerry Group PLC "A"
|
|
59,271
|
5,077,869
|
|
(Cost $9,497,490)
|
|
|
11,484,619
|
|
Israel 0.3%
|
|
||
|
Cellebrite DI Ltd.* (Cost $2,126,155)
|
|
99,291
|
1,462,556
|
|
Italy 0.6%
|
|
||
|
Stevanato Group SpA (Cost $4,579,808)
|
|
159,593
|
2,978,005
|
|
Japan 5.9%
|
|
||
|
Fast Retailing Co., Ltd.
|
|
15,500
|
8,012,526
|
|
Hoya Corp.
|
|
48,400
|
8,229,504
|
|
Keyence Corp.
|
|
14,900
|
7,494,673
|
|
SoftBank Group Corp.
|
|
115,300
|
5,423,114
|
|
(Cost $11,675,723)
|
|
|
29,159,817
|
|
Korea 6.1%
|
|
||
|
Samsung Electronics Co., Ltd.
|
|
79,916
|
16,810,466
|
|
SK Hynix, Inc.
|
|
8,830
|
13,669,801
|
|
(Cost $9,225,868)
|
|
|
30,480,267
|
|
Luxembourg 0.4%
|
|
||
|
Globant SA* (a) (Cost $2,701,920)
|
|
51,960
|
2,097,106
|
|
Netherlands 11.7%
|
|
||
|
ABN AMRO Bank NV REG S
|
|
95,500
|
3,800,667
|
|
Adyen NV 144A*
|
|
1,717
|
1,881,144
|
|
Airbus SE
|
|
30,685
|
6,431,638
|
|
Argenx SE*
|
|
2,606
|
2,175,165
|
|
ASML Holding NV
|
|
13,111
|
21,177,286
|
|
BE Semiconductor Industries NV
|
|
10,000
|
3,317,241
|
|
ING Groep NV
|
|
398,386
|
12,406,885
|
|
NXP Semiconductors NV
|
|
14,366
|
4,616,514
|
|
Universal Music Group NV
|
|
103,280
|
2,349,082
|
|
(Cost $23,688,163)
|
|
|
58,155,622
|
|
Singapore 4.5%
|
|
||
|
DBS Group Holdings Ltd.
|
|
371,370
|
18,285,517
|
|
Sea Ltd. (ADR)*
|
|
28,602
|
2,589,339
|
|
Trip.com Group Ltd.*
|
|
32,050
|
1,508,254
|
|
(Cost $7,729,076)
|
|
|
22,383,110
|
|
Sweden 3.6%
|
|
||
|
Assa Abloy AB "B"
|
|
171,981
|
6,197,060
|
|
Atlas Copco AB "A"
|
|
124,938
|
2,401,171
|
|
Spotify Technology SA*
|
|
19,100
|
9,505,688
|
|
(Cost $9,193,166)
|
|
|
18,103,919
|
|
Switzerland 8.5%
|
|
||
|
Belimo Holding AG (Registered)
|
|
1,620
|
1,716,405
|
|
Galderma Group AG
|
|
7,280
|
1,553,371
|
|
Lonza Group AG (Registered)
|
|
22,166
|
14,210,322
|
|
Nestle SA (Registered)
|
|
65,600
|
6,676,400
|
|
Roche Holding AG
|
|
17,160
|
7,239,495
|
|
Sandoz Group AG
|
|
113,154
|
9,509,836
|
|
Sportradar Group AG "A"* (a)
|
|
119,839
|
1,583,073
|
|
(Cost $22,564,969)
|
|
|
42,488,902
|
|
Taiwan 6.8%
|
|
||
|
Taiwan Semiconductor Manufacturing Co., Ltd. (Cost $2,730,471)
|
|
451,000
|
33,905,444
|
|
United Kingdom 7.2%
|
|
||
|
AstraZeneca PLC
|
|
51,042
|
9,487,253
|
|
Birkenstock Holding PLC* (a)
|
|
40,428
|
1,822,090
|
|
Halma PLC
|
|
104,203
|
6,570,258
|
|
HSBC Holdings PLC
|
|
456,100
|
8,559,906
|
|
London Stock Exchange Group PLC
|
|
18,760
|
2,279,326
|
|
Rentokil Initial PLC
|
|
867,948
|
5,245,868
|
|
Verisure PLC*
|
|
156,652
|
2,088,477
|
|
(Cost $26,116,065)
|
|
|
36,053,178
|
|
United States 7.0%
|
|
||
|
Brookfield Asset Management Ltd. "A" (a)
|
|
79,958
|
3,867,261
|
|
Ferguson Enterprises, Inc.
|
|
19,810
|
4,476,466
|
|
Johnson Controls International PLC
|
|
13,000
|
1,742,780
|
|
Marsh & McLennan Companies, Inc.
|
|
43,573
|
6,970,373
|
|
Mastercard, Inc. "A"
|
|
8,026
|
3,964,683
|
|
NVIDIA Corp.
|
|
30,212
|
6,378,961
|
|
SLB Ltd.
|
|
94,405
|
5,149,793
|
|
Sunbelt Rentals Holdings, Inc.
|
|
26,811
|
2,109,334
|
|
(Cost $15,911,149)
|
|
|
34,659,651
|
|
Uruguay 0.8%
|
|
||
|
MercadoLibre, Inc.* (Cost $3,702,416)
|
|
2,300
|
3,899,995
|
|
Total Common Stocks (Cost $257,206,454)
|
|
|
491,583,676
|
|
|
|||
|
Preferred Stocks 0.5%
|
|
||
|
Germany
|
|
||
|
Sartorius AG (Cost $2,069,810)
|
|
9,040
|
2,584,397
|
|
|
|||
|
Securities Lending Collateral 1.2%
|
|
||
|
DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional
Shares", 3.51% (b) (c) (Cost $5,904,300)
|
|
5,904,300
|
5,904,300
|
|
|
|||
|
Cash Equivalents 0.3%
|
|
||
|
DWS Central Cash Management Government Fund, 3.62% (b) (Cost $1,464,624)
|
|
1,464,624
|
1,464,624
|
|
|
|||
|
|
|
% of
Net Assets
|
Value ($)
|
|
Total Investment Portfolio (Cost $266,645,188)
|
|
100.8
|
501,536,997
|
|
Other Assets and Liabilities, Net
|
|
(0.8
)
|
(4,157,604
)
|
|
Net Assets
|
|
100.0
|
497,379,393
|
|
Value ($) at
8/31/2025
|
Purchases
Cost ($)
|
Sales
Proceeds ($)
|
Net Realized
Gain/
(Loss) ($)
|
Net Change in
Unrealized
Appreciation
(Depreciation) ($)
|
Income ($)
|
Capital Gain
Distributions ($)
|
Number
of Shares
at
5/31/2026
|
Value ($) at
5/31/2026
|
|
Securities Lending Collateral 1.2%
|
||||||||
|
DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares",
3.51% (b) (c)
|
||||||||
|
4,781,250
|
1,123,050 (d)
|
—
|
—
|
—
|
16,101
|
—
|
5,904,300
|
5,904,300
|
|
Cash Equivalents 0.3%
|
||||||||
|
DWS Central Cash Management Government Fund, 3.62% (b)
|
||||||||
|
5,383,239
|
58,150,432
|
62,069,047
|
—
|
—
|
83,909
|
—
|
1,464,624
|
1,464,624
|
|
10,164,489
|
59,273,482
|
62,069,047
|
—
|
—
|
100,010
|
—
|
7,368,924
|
7,368,924
|
|
*
|
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 May 31, 2026 amounted to $8,110,690,
which is 1.6% 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. In
addition, the Fund held non-cash U.S. Treasury securities collateral having a value
of $2,466,592.
|
|
(d)
|
Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount
invested in cash collateral for the period
ended May 31, 2026.
|
|
144A: Security exempt from registration under Rule 144A under the Securities Act of
1933. These securities may be resold in
transactions exempt from registration, normally to qualified institutional buyers.
|
|
ADR: American Depositary Receipt
|
|
REG S: Securities sold under Regulation S may not be offered, sold or delivered within
the United States or to, or for the account or
benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the
Securities Act of 1933.
|
|
Sector Diversification
|
Market Value ($)
|
(As a % of Net Assets)
|
|
Information Technology
|
127,685,524
|
26%
|
|
Financials
|
106,559,140
|
21%
|
|
Industrials
|
81,473,649
|
16%
|
|
Health Care
|
64,692,105
|
13%
|
|
Consumer Discretionary
|
39,220,197
|
8%
|
|
Communication Services
|
26,206,844
|
5%
|
|
Materials
|
20,140,180
|
4%
|
|
Energy
|
14,279,893
|
3%
|
|
Consumer Staples
|
11,754,269
|
2%
|
|
Utilities
|
2,156,272
|
1%
|
|
Total
|
494,168,073
|
99%
|
|
Assets
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Common Stocks
|
|
|
|
|
|
Canada
|
$25,346,017
|
$—
|
$—
|
$25,346,017
|
|
China
|
20,175,827
|
—
|
—
|
20,175,827
|
|
Denmark
|
—
|
1,928,343
|
—
|
1,928,343
|
|
Finland
|
5,149,911
|
—
|
—
|
5,149,911
|
|
France
|
54,117,983
|
—
|
—
|
54,117,983
|
|
Germany
|
48,737,852
|
—
|
—
|
48,737,852
|
|
Hong Kong
|
8,815,552
|
—
|
—
|
8,815,552
|
|
Ireland
|
11,484,619
|
—
|
—
|
11,484,619
|
|
Israel
|
1,462,556
|
—
|
—
|
1,462,556
|
|
Italy
|
2,978,005
|
—
|
—
|
2,978,005
|
|
Japan
|
29,159,817
|
—
|
—
|
29,159,817
|
|
Korea
|
30,480,267
|
—
|
—
|
30,480,267
|
|
Luxembourg
|
2,097,106
|
—
|
—
|
2,097,106
|
|
Netherlands
|
58,155,622
|
—
|
—
|
58,155,622
|
|
Singapore
|
22,383,110
|
—
|
—
|
22,383,110
|
|
Sweden
|
18,103,919
|
—
|
—
|
18,103,919
|
|
Switzerland
|
42,488,902
|
—
|
—
|
42,488,902
|
|
Taiwan
|
33,905,444
|
—
|
—
|
33,905,444
|
|
United Kingdom
|
36,053,178
|
—
|
—
|
36,053,178
|
|
United States
|
34,659,651
|
—
|
—
|
34,659,651
|
|
Uruguay
|
3,899,995
|
—
|
—
|
3,899,995
|
|
Preferred Stocks
|
2,584,397
|
—
|
—
|
2,584,397
|
|
Short-Term Investments (a)
|
7,368,924
|
—
|
—
|
7,368,924
|
|
Total
|
$499,608,654
|
$1,928,343
|
$—
|
$501,536,997
|
|
(a)
|
See Investment Portfolio for additional detailed categorizations.
|