NPORT-P false 0000926425 XXXXXXXX S000006098 C000016758 C000016756 C000016759 DEUTSCHE DWS ASSET ALLOCATION TRUST 811-08606 0000926425 OBQCJCH5PLZP8KWUJD96 875 Third Avenue NEW YORK 10022-6225 212-454-4500 DWS Multi-Asset Moderate Allocation Fund S000006098 1W2RFPWVYQE2JC0KFK42 2025-08-31 2025-05-31 N 21256666.05 83581.06 21173084.99 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 5327.69000000 USD N 22% S&P, 70% S&P Target Risk Moderate, 6% FTSE EPRA Nareit, 2% BBG Commodity DJFOSNSN iShares JP Morgan USD Emerging 549300LRIF3NWCU26A80 464288281 5923.00000000 NS USD 536623.80000000 2.534462031647 Long EC RF US N 1 N N N Vanguard Intermediate-Term Corporate Bond ETF VKDXEYNPEMWGHJ22MR31 92206C870 20191.00000000 NS USD 1650008.52000000 7.792952802009 Long EC RF US N 1 N N N VanEck J. P. Morgan EM Local Currency Bond ETF 549300CNWPR88MZBEA63 92189H300 6363.00000000 NS USD 157038.84000000 0.741690878179 Long EC RF US N 1 N N N Chicago Board of Trade 549300EX04Q2QBFQTQ27 000000000 2.00000000 NC USD 1760.09000000 0.008312865134 N/A DIR US N 1 Chicago Board of Trade 549300EX04Q2QBFQTQ27 Long CBOT Ultra Long-Term U.S. Treasury Bond Futures WNU5 Comdty 2025-09-19 230364.91000000 USD 1760.09000000 N N N DWS 549300PVLPCCDJRWQR23 25156A858 45362.34000000 NS USD 758458.27000000 3.582181200133 Long EC RF US N 1 N N N DWS Global Real Estate Securities Fund S3F7OHQGFS84K9XEJE32 25159L406 84005.10000000 NS USD 618277.57000000 2.920110934670 Long EC RF US N 1 N N N Xtrackers RREEF Global Natural Resources ETF 529900FTFUUP6MXH3A36 23306X837 3250.00000000 NS USD 80645.18000000 0.380885355337 Long EC RF US N 1 N N N DWS 5493003GD84DGSXJ7618 25160K306 619512.46000000 NS USD 619512.46000000 2.925943292121 Long STIV RF US N 1 N N N DWS BSFDGTJIOB5CFE60ND57 25159R106 43068.91000000 NS USD 6853986.81000000 32.37122418975 Long EC RF US N 1 N N N Chicago Board of Trade 549300EX04Q2QBFQTQ27 000000000 4.00000000 NC USD 833.87000000 0.003938349089 N/A DIR US N 1 Chicago Board of Trade 549300EX04Q2QBFQTQ27 Long CBOT 2 Year U.S. Treasury Notes Futures TUU5 Comdty 2025-09-30 828916.13000000 USD 833.87000000 N N N DWS 2EGUP71H6PBMSKMC3J09 25159L737 12883.02000000 NS USD 280978.69000000 1.327055977589 Long EC RF US N 1 N N N DWS LBPF8NSCNKWC3WP4IN32 25156A841 8.46000000 NS USD 62.30000000 0.000294241486 Long EC RF US N 1 N N N Eurex Deutschland 529900LN3S50JPU47S06 000000000 4.00000000 NC -1642.86000000 -0.00775919050 N/A DE DE N 1 Eurex Deutschland 529900LN3S50JPU47S06 Long EURO STOXX 50 Index SX5E Index 2025-06-20 216166.88000000 EUR -1642.86000000 N N N iShares Core MSCI Europe ETF 549300XU2KDV0C5LCG21 46434V738 22178.00000000 NS USD 1457094.60000000 6.881824734979 Long EC RF US N 1 N N N iShares Core International Aggregate Bond ETF 549300FPQU8XYG8LAX15 46435G672 22117.00000000 NS USD 1124870.62000000 5.312738415451 Long EC RF US N 1 N N N DWS 549300V295OG0NZ7UA89 25156G780 54320.76000000 NS USD 1061427.61000000 5.013098518715 Long EC RF US N 1 N N N DWS TWIQP8VKJK957HT5V127 25155T635 168604.94000000 NS USD 741861.72000000 3.503796071051 Long EC RF US N 1 N N N DWS U72UPDOVVEAXSRWTZF97 25159L836 34416.84000000 NS USD 197552.67000000 0.933036778028 Long EC RF US N 1 N N N Chicago Board of Trade 549300EX04Q2QBFQTQ27 000000000 -10.00000000 NC USD -4676.55000000 -0.02208723954 N/A DIR US N 1 Chicago Board of Trade 549300EX04Q2QBFQTQ27 Short CBOT 10 Year U.S. Treasury Notes TYU5 Comdty 2025-09-19 -1102823.45000000 USD -4676.55000000 N N N iShares MSCI Japan ETF 5493008I6YRUC6I0S051 46434G822 8459.00000000 NS USD 626981.08000000 2.961217414921 Long EC RF US N 1 N N N iShares U.S. Treasury Bond ETF 549300YMK9GAMCTG8G20 46429B267 41466.00000000 NS USD 943766.16000000 4.457386160050 Long EC RF US N 1 N N N iShares GNMA Bond ETF 5493000KODSFW8LTTF91 46429B333 29582.00000000 NS USD 1283267.16000000 6.060841679925 Long EC RF US N 1 N N N iShares MSCI Pacific ex Japan ETF 549300BD232B3QSQRR65 464286665 6529.00000000 NS USD 315089.54000000 1.488160748180 Long EC RF US N 1 N N N DWS KKQKEDL2J9UGWEWMX474 25157M810 10650.37000000 NS USD 534861.38000000 2.526138161975 Long EC RF US N 1 N N N United States Treasury 254900HROIFWPRGM1V77 912797PW1 127600.00000000 PA USD 126098.24000000 0.595559126407 Long STIV UST US N 2 2025-09-11 None 0.00000000 N N N N N N Chicago Board of Trade 549300EX04Q2QBFQTQ27 000000000 1.00000000 NC USD 747.31000000 0.003529528173 N/A DIR US N 1 Chicago Board of Trade 549300EX04Q2QBFQTQ27 Long CBOT U.S. Long Bond Futures USU5 Comdty 2025-09-19 112033.94000000 USD 747.31000000 N N N Vanguard S&P 500 ETF 549300D8V8ZP5GRJOC71 922908363 2314.00000000 NS USD 1253632.64000000 5.920878514359 Long EC RF US N 1 N N N Chicago Board of Trade 549300EX04Q2QBFQTQ27 000000000 11.00000000 NC USD 3324.40000000 0.015701065770 N/A DIR US N 1 Chicago Board of Trade 549300EX04Q2QBFQTQ27 Long CBOT 5 Year U.S. Treasury Notes FVU5 Comdty 2025-09-30 1186738.10000000 USD 3324.40000000 N N N Chicago Board of Trade 549300EX04Q2QBFQTQ27 000000000 -6.00000000 NC USD -3432.12000000 -0.01620982488 N/A DIR US N 1 Chicago Board of Trade 549300EX04Q2QBFQTQ27 Short Ultra 10 Year U.S. Treasury Notes Futures UXYU5 Comdty 2025-09-19 -671849.13000000 USD -3432.12000000 N N N 2025-06-27 DEUTSCHE DWS ASSET ALLOCATION TRUST Diane Kenneally Diane Kenneally Treasurer and Chief Financial Officer XXXX