NPORT-EX 2 cee_q1.htm SOI

The Central and Eastern Europe Fund, Inc.

 

Schedule of Investments as of January 31, 2021 (Unaudited)

 

 

  Shares Value ($)
Russia  65.6%    
Common Stocks 63.7%    
Banks 14.2%    
Sberbank of Russia PJSC 2,400,000 8,220,048
Sberbank of Russia PJSC (ADR) 1,204,191 16,569,668
TCS Group Holding PLC (GDR) (Registered) 25,000 1,031,250
    25,820,966
Food & Staples Retailing 5.7%    
Magnit PJSC (GDR) (Registered) 319,550 4,767,686
X5 Retail Group NV (GDR) (Registered) 154,884 5,479,796
    10,247,482
Interactive Media & Services 1.3%    
Yandex NV ''A''* 38,000 2,403,120
     
Metals & Mining 11.7%    
Alrosa PJSC 1,670,000 2,211,154
Magnitogorsk Iron & Steel Works PJSC (GDR) (Registered) 100,000 884,000
MMC Norilsk Nickel PJSC (ADR) 205,000 6,606,850
Polymetal International PLC 280,000 6,077,111
Polyus PJSC (GDR) (Registered) 27,817 2,630,097
Severstal PAO (GDR) (Registered) 170,000 2,847,500
    21,256,712
Oil, Gas & Consumable Fuels 27.2%    
Gazprom PJSC (ADR)† 2,178,242 12,194,690
Lukoil PJSC (ADR) 259,500 18,377,790
Novatek PJSC (GDR) (Registered) 28,440 4,766,544
Rosneft Oil Co PJSC (GDR) (Registered) 1,222,997 7,580,135
Tatneft PAO (ADR) 160,548 6,254,950
    49,174,109
Wireless Telecommunication Services 3.6%    
Mobile Telesystems PJSC (ADR) 710,000 6,489,400
Total Common Stocks (Cost $74,868,555)   115,391,789
     
Preferred Stocks 1.9%    
Oil, Gas & Consumable Fuels 1.9%    
Surgutneftegas PJSC 6,600,000 3,496,350
Total Preferred Stocks (Cost $3,903,980)   3,496,350
Total Russia (Cost $78,772,535)   118,888,139
     
Poland  11.2%    
Common Stocks    
Banks 2.8%    
Bank Polska Kasa Opieki SA* 110,000 1,883,399
Powszechna Kasa Oszczednosci Bank Polski SA* 416,090 3,229,943
    5,113,342
Diversified Telecommunication Services 1.0%    
Orange Polska SA* 1,050,000 1,852,825
     
Entertainment 1.2%    
CD Projekt SA* 25,500 2,091,872
     
Food & Staples Retailing 0.7%    
Eurocash SA* 320,000 1,178,368
     
Insurance 1.4%    
Powszechny Zaklad Ubezpieczen SA* 320,000 2,565,745
     
     
  Shares Value ($)
Media 0.8%    
Cyfrowy Polsat SA 185,000 1,518,627
     
Metals & Mining 2.0%    
KGHM Polska Miedz SA* 70,131 3,551,414
     
Oil, Gas & Consumable Fuels 1.3%    
Polski Koncern Naftowy ORLEN SA 157,572 2,372,644
Total Poland (Cost $20,025,329)   20,244,837
     
Turkey  7.7%    
Common Stocks    
Banks 1.8%    
Akbank T.A.S.* 3,700,000 3,232,990
     
Beverages 0.6%    
Anadolu Efes Biracilik ve Malt Sanayii AS 337,167 1,147,040
     
Diversified Telecommunication Services 1.8%    
Turk Telekomunikasyon AS 3,000,000 3,245,864
     
Food & Staples Retailing 1.9%    
Sok Marketler Ticaret AS* 1,861,004 3,379,658
     
Food Products 1.0%    
Ulker Biskuvi Sanayi AS* 601,791 1,869,264
     
Wireless Telecommunication Services 0.6%    
Turkcell Iletisim Hizmetleri AS 500,000 1,091,542
Total Turkey (Cost $12,690,814)   13,966,358
     
Hungary  7.7%    
Common Stocks    
Banks 2.6%    
OTP Bank PLC* 101,478 4,663,035
     
Diversified Telecommunication Services 0.5%    
Magyar Telekom Telecommunications PLC (ADR) 740,433 991,730
     
Oil, Gas & Consumable Fuels 2.2%    
MOL Hungarian Oil & Gas PLC* 515,985 3,898,998
     
Pharmaceuticals 2.4%    
Richter Gedeon Nyrt 155,071 4,394,180
Total Hungary (Cost $11,581,452)   13,947,943
     
Czech Republic  1.8%    
Common Stocks    
Banks 1.6%    
Moneta Money Bank AS 144A* 853,432 2,912,737
     
Electric Utilities 0.2%    
CEZ AS 15,000 361,869
Total Czech Republic (Cost $3,386,246)   3,274,606
     
Moldova  1.7%    
Common Stocks    
Beverages 1.7%    
Purcari Wineries PLC* (Cost $2,547,425) 555,000 3,097,469
     
  Shares Value ($)
Securities Lending Collateral  0.3%    
DWS Government & Agency Securities Portfolio ''DWS Government Cash Institutional Shares'', 0.01% (Cost $553,800) (a) (b) 553,800 553,800
     
Cash Equivalents  4.3%    
DWS Central Cash Management Government Fund, 0.05% (Cost $7,743,979) (b) 7,743,979 7,743,979
     
  % of Net  
  Assets Value ($)
Total Investment Portfolio (Cost $137,301,580) 100.3 181,717,131
Other Assets and Liabilities, Net (0.3) (443,687)
Net Assets 100.0 181,273,444
     

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 January 31, 2021 are as follows:
Value ($) at 10/31/2020 Purchases Cost
($)		 Sales Proceeds
($)		 Net
Realized
Gain/
(Loss)
($)		 Net
Change in
Unrealized
Appreciation/
(Depreciation)
($)		 Income
($)		 Capital
Gain
Distributions
($)		 Number
of Shares
at
1/31/2021		 Value ($)
at
1/31/2021
Securities Lending Collateral 0.3%        
DWS Government & Agency Securities Portfolio ''DWS Government Cash Institutional Shares'', 0.01% (a) (b)
2,351 551,449 (c) – – – 4,025 – 553,800 553,800
Cash Equivalents 4.3%        
DWS Central Cash Management Government Fund, 0.05% (b)
3,745,774 25,064,423 21,066,218 – – 1,499 – 7,743,979 7,743,979
3,748,125 25,615,872 21,066,218 – – 5,524 – 8,297,779 8,297,779
 

  

 

*     Non-income producing security.
†     All or a portion of these securities were on loan. The value of all securities loaned at January 31, 2021 amounted to $516,880, which is 0.3% of net assets.
(a)     Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates.
(b)     Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at period end.
(c)     Represents the net increase (purchases cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period ended January 31, 2021.

 

 

144A:   Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be  resold in transactions exempt from registration, normally to qualified institutional buyers.
ADR: American Depositary Receipt
GDR: Global Depositary Receipt
PJSC: Public Joint Stock Company
     

For purposes of its industry concentration policy, the Fund classifies issuers of portfolio securities at the industry subgroup level. Certain of the categories in the above Schedule of Investments consist of multiple industry sub-groups or

industries.

 

 

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 associated with investing in those securities.
 
The following is a summary of the inputs used as of January 31, 2021 in valuing the Fund’s investments.  
         
Assets Level 1 Level 2 Level 3 Total
  Common Stocks and/or Other Equity Investments (d)  
Russia   $ 118,888,139 $ — $ — $ 118,888,139
Poland   20,244,837   —   —   20,244,837
Turkey   13,966,358   —   —   13,966,358
Hungary   13,947,943   —   —   13,947,943
Czech Republic   3,274,606   —   —   3,274,606
Moldova   3,097,469   —   —   3,097,469
Short-Term Instruments (d) 8,297,779 — — 8,297,779
Total $ 181,717,131 $ — $ — $ 181,717,131
         
 
(d) See Schedule of Investments 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

 

CEE-PH1

R-080548-1 (1/23)