<SEC-DOCUMENT>0001752724-25-116979.txt : 20250523
<SEC-HEADER>0001752724-25-116979.hdr.sgml : 20250523
<ACCEPTANCE-DATETIME>20250523110048
ACCESSION NUMBER:		0001752724-25-116979
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250331
FILED AS OF DATE:		20250523
DATE AS OF CHANGE:		20250523
PERIOD START:           	20251231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EUROPEAN EQUITY FUND, INC / MD
		CENTRAL INDEX KEY:			0000791718
		ORGANIZATION NAME:           	
		EIN:				260529973
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04632
		FILM NUMBER:		25979943

	BUSINESS ADDRESS:	
		STREET 1:		875 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-6225
		BUSINESS PHONE:		212-454-4500

	MAIL ADDRESS:	
		STREET 1:		875 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-6225

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GERMANY FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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        </identifiers>
        <balance>37067.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="10.04780000"/>
        <valUSD>840738.20000000</valUSD>
        <pctVal>1.163553690597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1025483.07000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANCO SANTANDER SA /EUR/</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>BANCO SANTANDER SA /EUR/ 0.00000000</title>
        <cusip>E19790109</cusip>
        <identifiers>
          <isin value="ES0113900J37"/>
        </identifiers>
        <balance>220714.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>1476947.46000000</valUSD>
        <pctVal>2.044046134577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAPGEMINI SE /EUR/</name>
        <lei>96950077L0TN7BAROX36</lei>
        <title>CAPGEMINI SE /EUR/ 0.00000000</title>
        <cusip>F4973Q101</cusip>
        <identifiers>
          <isin value="FR0000125338"/>
        </identifiers>
        <balance>3101.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>462340.49000000</valUSD>
        <pctVal>0.639863852329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMPASS GROUP PLC /GBP/</name>
        <lei>2138008M6MH9OZ6U2T68</lei>
        <title>COMPASS GROUP PLC /GBP/ 0.00000000</title>
        <cusip>G23296208</cusip>
        <identifiers>
          <isin value="GB00BD6K4575"/>
        </identifiers>
        <balance>63078.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>2078680.23000000</valUSD>
        <pctVal>2.876824263711</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORANGE SA /EUR/</name>
        <lei>969500MCOONR8990S771</lei>
        <title>ORANGE SA /EUR/ 0.00000000</title>
        <cusip>F6866T100</cusip>
        <identifiers>
          <isin value="FR0000133308"/>
        </identifiers>
        <balance>58462.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>757351.83000000</valUSD>
        <pctVal>1.048149729460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMURFIT WESTROCK PLC/GBP/</name>
        <lei>635400EGSEOPDW2EXS14</lei>
        <title>SMURFIT WESTROCK PLC/GBP/ 0.00000000</title>
        <cusip>G8267P108</cusip>
        <identifiers>
          <isin value="IE00028FXN24"/>
        </identifiers>
        <balance>26343.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>1176522.64000000</valUSD>
        <pctVal>1.628268181276</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>L'OREAL /EUR/</name>
        <lei>529900JI1GG6F7RKVI53</lei>
        <title>L'OREAL /EUR/ 0.00000000</title>
        <cusip>F58149133</cusip>
        <identifiers>
          <isin value="FR0000120321"/>
        </identifiers>
        <balance>3224.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>1193776.27000000</valUSD>
        <pctVal>1.652146631027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMPAGNIE DE SAINT GOBAI /EUR/</name>
        <lei>NFONVGN05Z0FMN5PEC35</lei>
        <title>COMPAGNIE DE SAINT GOBAIN /EUR/ 0.00000000</title>
        <cusip>F80343100</cusip>
        <identifiers>
          <isin value="FR0000125007"/>
        </identifiers>
        <balance>11146.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>1103855.26000000</valUSD>
        <pctVal>1.527698945591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MERCK KGAA /EUR/</name>
        <lei>529900OAREIS0MOPTW25</lei>
        <title>MERCK KGAA /EUR/ 0.00000000</title>
        <cusip>D5357W103</cusip>
        <identifiers>
          <isin value="DE0006599905"/>
        </identifiers>
        <balance>5163.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>705926.66000000</valUSD>
        <pctVal>0.976979005514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRENNTAG SE /EUR/</name>
        <lei>NNROIXVWJ7CPSR27SV97</lei>
        <title>BRENNTAG SE /EUR/ 0.00000000</title>
        <cusip>D12459117</cusip>
        <identifiers>
          <isin value="DE000A1DAHH0"/>
        </identifiers>
        <balance>8240.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>530392.32000000</valUSD>
        <pctVal>0.734045320410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SANOFI /EUR/</name>
        <lei>549300E9PC51EN656011</lei>
        <title>SANOFI /EUR/ 0.00000000</title>
        <cusip>F5548N101</cusip>
        <identifiers>
          <isin value="FR0000120578"/>
        </identifiers>
        <balance>7452.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>820268.47000000</valUSD>
        <pctVal>1.135224265472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LONDON STOCK EXCHANGE GR /GBP/</name>
        <lei>213800QAUUUP6I445N30</lei>
        <title>LONDON STOCK EXCHANGE GROUP /GBP/ 0.00000000</title>
        <cusip>G5689U103</cusip>
        <identifiers>
          <isin value="GB00B0SWJX34"/>
        </identifiers>
        <balance>8144.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>1204706.74000000</valUSD>
        <pctVal>1.667274037762</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CRH PLC /GBP/</name>
        <lei>549300MIDJNNTH068E74</lei>
        <title>CRH PLC /GBP/ 0.00000000</title>
        <cusip>G25508105</cusip>
        <identifiers>
          <isin value="IE0001827041"/>
        </identifiers>
        <balance>15690.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>1358952.95000000</valUSD>
        <pctVal>1.880745659375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INFORMA PLC /GBP/</name>
        <lei>5493006VM2LKUPSEDU20</lei>
        <title>INFORMA PLC /GBP/ 0.00000000</title>
        <cusip>G4770L106</cusip>
        <identifiers>
          <isin value="GB00BMJ6DW54"/>
        </identifiers>
        <balance>83569.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>829958.44000000</valUSD>
        <pctVal>1.148634861488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRESENIUS SE &amp; CO KGAA /EUR/</name>
        <lei>XDFJ0CYCOO1FXRFTQS51</lei>
        <title>FRESENIUS SE &amp; CO KGAA /EUR/ 0.00000000</title>
        <cusip>D27348263</cusip>
        <identifiers>
          <isin value="DE0005785604"/>
        </identifiers>
        <balance>48383.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>2057225.81000000</valUSD>
        <pctVal>2.847132060394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NESTLE SA-REG /CHF/</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
        <title>NESTLE SA-REG /CHF/ 0.00000000</title>
        <cusip>H57312649</cusip>
        <identifiers>
          <isin value="CH0038863350"/>
        </identifiers>
        <balance>13981.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.88450000"/>
        <valUSD>1412167.94000000</valUSD>
        <pctVal>1.954393434639</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AXA SA /EUR/</name>
        <lei>F5WCUMTUM4RKZ1MAIE39</lei>
        <title>AXA SA /EUR/ 0.00000000</title>
        <cusip>F06106102</cusip>
        <identifiers>
          <isin value="FR0000120628"/>
        </identifiers>
        <balance>54014.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>2298403.73000000</valUSD>
        <pctVal>3.180914275722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCHNEIDER ELEC SA /EUR/</name>
        <lei>969500A1YF1XUYYXS284</lei>
        <title>SCHNEIDER ELEC SA /EUR/ 0.00000000</title>
        <cusip>F86921107</cusip>
        <identifiers>
          <isin value="FR0000121972"/>
        </identifiers>
        <balance>6013.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>1368618.93000000</valUSD>
        <pctVal>1.894123054029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RWE AG /EUR/</name>
        <lei>529900GB7KCA94ACC940</lei>
        <title>RWE AG /EUR/ 0.00000000</title>
        <cusip>D6629K109</cusip>
        <identifiers>
          <isin value="DE0007037129"/>
        </identifiers>
        <balance>18682.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>666230.01000000</valUSD>
        <pctVal>0.922040162945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KNORR-BREMSE AG /EUR/</name>
        <lei>N/A</lei>
        <title>KNORR-BREMSE AG /EUR/ 0.00000000</title>
        <cusip>D4S43E114</cusip>
        <identifiers>
          <isin value="DE000KBX1006"/>
        </identifiers>
        <balance>9357.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>844319.54000000</valUSD>
        <pctVal>1.168510145977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RELX PLC /GBP/</name>
        <lei>549300WSX3VBUFFJOO66</lei>
        <title>RELX PLC /GBP/ 0.00000000</title>
        <cusip>G7493L105</cusip>
        <identifiers>
          <isin value="GB00B2B0DG97"/>
        </identifiers>
        <balance>31571.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>1578319.03000000</valUSD>
        <pctVal>2.184341014000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE TELEKOM AG-REG /EUR/</name>
        <lei>549300V9QSIG4WX4GJ96</lei>
        <title>DEUTSCHE TELEKOM AG-REG /EUR/ 0.00000000</title>
        <cusip>D2035M136</cusip>
        <identifiers>
          <isin value="DE0005557508"/>
        </identifiers>
        <balance>22175.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>819534.78000000</valUSD>
        <pctVal>1.134208862928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PORSCHE AUTOMOBIL HLDG-P /EUR/</name>
        <lei>52990053Z17ZYM1KFV27</lei>
        <title>PORSCHE AUTOMOBIL HLDG-PRF /EUR/ 0.00000000</title>
        <cusip>D6240C122</cusip>
        <identifiers>
          <isin value="DE000PAH0038"/>
        </identifiers>
        <balance>12572.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>469247.39000000</valUSD>
        <pctVal>0.649422772080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHELL PLC-NEW /GBP/</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>SHELL PLC-NEW /GBP/ 0.00000000</title>
        <cusip>G80827101</cusip>
        <identifiers>
          <isin value="GB00BP6MXD84"/>
        </identifiers>
        <balance>54481.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>1986655.11000000</valUSD>
        <pctVal>2.749464560055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DSV DKK1 /DKK/</name>
        <lei>529900X41C0BSLK67H70</lei>
        <title>DSV DKK1 /DKK/ 0.00000000</title>
        <cusip>K31864117</cusip>
        <identifiers>
          <isin value="DK0060079531"/>
        </identifiers>
        <balance>4543.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.90770000"/>
        <valUSD>876347.77000000</valUSD>
        <pctVal>1.212836150457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCOR SE /EUR/</name>
        <lei>96950056ULJ4JI7V3752</lei>
        <title>SCOR SE /EUR/ 0.00000000</title>
        <cusip>F15561677</cusip>
        <identifiers>
          <isin value="FR0010411983"/>
        </identifiers>
        <balance>40074.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>1152111.47000000</valUSD>
        <pctVal>1.594483934354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOTALENERGIES SE /EUR/</name>
        <lei>529900S21EQ1BO4ESM68</lei>
        <title>TOTALENERGIES SE /EUR/ 0.00000000</title>
        <cusip>F92124100</cusip>
        <identifiers>
          <isin value="FR0000120271"/>
        </identifiers>
        <balance>19869.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>1280215.30000000</valUSD>
        <pctVal>1.771775372017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TELENOR ASA /NOK/</name>
        <lei>N/A</lei>
        <title>TELENOR ASA /NOK/ 0.00000000</title>
        <cusip>R21882106</cusip>
        <identifiers>
          <isin value="NO0010063308"/>
        </identifiers>
        <balance>62407.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.54220000"/>
        <valUSD>890919.68000000</valUSD>
        <pctVal>1.233003188971</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIKA AG-REG /CHF/</name>
        <lei>549300R3N69ECGYPU434</lei>
        <title>SIKA AG-REG /CHF/ 0.00000000</title>
        <cusip>H7631K273</cusip>
        <identifiers>
          <isin value="CH0418792922"/>
        </identifiers>
        <balance>3153.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.88450000"/>
        <valUSD>759999.55000000</valUSD>
        <pctVal>1.051814085829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIE FINANCIERE RICHEMO-A /CHF/</name>
        <lei>549300YIPGJ6UX2QPS51</lei>
        <title>CIE FINANCIERE RICHEMO-A REG /CHF/ 0.00000000</title>
        <cusip>H25662182</cusip>
        <identifiers>
          <isin value="CH0210483332"/>
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        <balance>3520.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.88450000"/>
        <valUSD>608687.39000000</valUSD>
        <pctVal>0.842403091776</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LVMH MOET HENNESSY LOUIS /EUR/</name>
        <lei>IOG4E947OATN0KJYSD45</lei>
        <title>LVMH MOET HENNESSY LOUIS VUI /EUR/ 0.00000000</title>
        <cusip>F58485115</cusip>
        <identifiers>
          <isin value="FR0000121014"/>
        </identifiers>
        <balance>1769.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>1092244.28000000</valUSD>
        <pctVal>1.511629735663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AUTO TRADER GROUP PLC /GBP/</name>
        <lei>213800QLK9BZILB1DI86</lei>
        <title>AUTO TRADER GROUP PLC /GBP/ 144A 0.00000000</title>
        <cusip>G06708104</cusip>
        <identifiers>
          <isin value="GB00BVYVFW23"/>
        </identifiers>
        <balance>69757.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>670095.06000000</valUSD>
        <pctVal>0.927389263523</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCOUT24 SE /EUR/</name>
        <lei>5493007EIKM2ENQS7U66</lei>
        <title>SCOUT24 SE /EUR/ 144A 0.00000000</title>
        <cusip>D345XT105</cusip>
        <identifiers>
          <isin value="DE000A12DM80"/>
        </identifiers>
        <balance>11365.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>1183232.88000000</valUSD>
        <pctVal>1.637554930132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASHTEAD GROUP PLC /GBP/</name>
        <lei>2138007UTBN8X9K1A235</lei>
        <title>ASHTEAD GROUP PLC /GBP/ 0.00000000</title>
        <cusip>G05320109</cusip>
        <identifiers>
          <isin value="GB0000536739"/>
        </identifiers>
        <balance>11543.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>617741.74000000</valUSD>
        <pctVal>0.854934010864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAIMLER TRUCK HOLDING AG /EUR/</name>
        <lei>529900PW78JIYOUBSR24</lei>
        <title>DAIMLER TRUCK HOLDING AG /EUR/ 0.00000000</title>
        <cusip>D1T3RZ100</cusip>
        <identifiers>
          <isin value="DE000DTR0CK8"/>
        </identifiers>
        <balance>17444.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>699322.98000000</valUSD>
        <pctVal>0.967839732152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ABN AMRO BANK NV-CVA /EUR/</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO BANK NV-CVA /EUR/ 144A 0.00000000</title>
        <cusip>N0162C102</cusip>
        <identifiers>
          <isin value="NL0011540547"/>
        </identifiers>
        <balance>67370.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>1408625.86000000</valUSD>
        <pctVal>1.949491313793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DNB BANK ASA /NOK/</name>
        <lei>549300GKFG0RYRRQ1414</lei>
        <title>DNB BANK ASA /NOK/ 0.00000000</title>
        <cusip>R1R15X100</cusip>
        <identifiers>
          <isin value="NO0010161896"/>
        </identifiers>
        <balance>55589.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="10.54220000"/>
        <valUSD>1452710.96000000</valUSD>
        <pctVal>2.010503625123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DSM-FIRMENICH AG /EUR/</name>
        <lei>506700G44V67MPM4BI12</lei>
        <title>DSM-FIRMENICH AG /EUR/ 0.00000000</title>
        <cusip>H0245V108</cusip>
        <identifiers>
          <isin value="CH1216478797"/>
        </identifiers>
        <balance>8220.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>811057.54000000</valUSD>
        <pctVal>1.122476644874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADIDAS AG /EUR/</name>
        <lei>549300JSX0Z4CW0V5023</lei>
        <title>ADIDAS AG /EUR/ 0.00000000</title>
        <cusip>D0066B185</cusip>
        <identifiers>
          <isin value="DE000A1EWWW0"/>
        </identifiers>
        <balance>2769.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>648045.68000000</valUSD>
        <pctVal>0.896873655366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASTRAZENECA PLC /GBP/</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC /GBP/ 0.00000000</title>
        <cusip>G0593M107</cusip>
        <identifiers>
          <isin value="GB0009895292"/>
        </identifiers>
        <balance>12683.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>1842416.69000000</valUSD>
        <pctVal>2.549843386762</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIVENDI SE /EUR/</name>
        <lei>969500FU4DRAEVJW7U54</lei>
        <title>VIVENDI SE /EUR/ 0.00000000</title>
        <cusip>F97982106</cusip>
        <identifiers>
          <isin value="FR0000127771"/>
        </identifiers>
        <balance>85716.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>255224.53000000</valUSD>
        <pctVal>0.353222256122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ATLAS COPCO AB-A SHS /SEK/</name>
        <lei>213800T8PC8Q4FYJZR07</lei>
        <title>ATLAS COPCO AB-A SHS /SEK/ 0.00000000</title>
        <cusip>W1R924252</cusip>
        <identifiers>
          <isin value="SE0017486889"/>
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        <balance>68091.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="10.04780000"/>
        <valUSD>1080207.15000000</valUSD>
        <pctVal>1.494970748316</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC HOLDINGS PLC /GBP/</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC /GBP/ 0.00000000</title>
        <cusip>G4634U169</cusip>
        <identifiers>
          <isin value="GB0005405286"/>
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        <balance>232688.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>2624790.72000000</valUSD>
        <pctVal>3.632623008330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDUSTRIA DE DISENO TEXT /EUR/</name>
        <lei>N/A</lei>
        <title>INDUSTRIA DE DISENO TEXTIL /EUR/ 0.00000000</title>
        <cusip>E6282J125</cusip>
        <identifiers>
          <isin value="ES0148396007"/>
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        <balance>19366.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>958965.59000000</valUSD>
        <pctVal>1.327176463970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NOVO NORDISK A/S-B /DKK/</name>
        <lei>N/A</lei>
        <title>NOVO NORDISK A/S-B /DKK/ 0.00000000</title>
        <cusip>K72807140</cusip>
        <identifiers>
          <isin value="DK0062498333"/>
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        <balance>32396.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.90770000"/>
        <valUSD>2203286.30000000</valUSD>
        <pctVal>3.049274917933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DWS</name>
        <lei>N/A</lei>
        <title>DWS Gov and Agency Sec Portfolio DWS Gov Cash Inst Shs</title>
        <cusip>147539670</cusip>
        <identifiers>
          <isin value="US1475396701"/>
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        <balance>1211360.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1211360.00000000</valUSD>
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        <name>DEUTSCHE LUFTHANSA-REG /EUR/</name>
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        <name>INTESA SANPAOLO /EUR/</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>INTESA SANPAOLO /EUR/ 0.00000000</title>
        <cusip>T55067101</cusip>
        <identifiers>
          <isin value="IT0000072618"/>
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        <balance>309588.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>1582836.76000000</valUSD>
        <pctVal>2.190593401978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SSE PLC /GBP/</name>
        <lei>549300KI75VYLLMSK856</lei>
        <title>SSE PLC /GBP/ 0.00000000</title>
        <cusip>G8842P102</cusip>
        <identifiers>
          <isin value="GB0007908733"/>
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        <balance>36127.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77471335"/>
        <valUSD>743325.74000000</valUSD>
        <pctVal>1.028738087663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOCIETE GENERALE SA /EUR/</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SOCIETE GENERALE SA /EUR/ 0.00000000</title>
        <cusip>F8591M517</cusip>
        <identifiers>
          <isin value="FR0000130809"/>
        </identifiers>
        <balance>32674.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92592592"/>
        <valUSD>1460567.01000000</valUSD>
        <pctVal>2.021376136888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VINCI SA /EUR/</name>
        <lei>213800WFQ334R8UXUG83</lei>
        <title>VINCI SA /EUR/ 0.00000000</title>
        <cusip>F5879X108</cusip>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

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    <signature>
      <ncom:dateSigned>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>The European Equity Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Diane Kenneally </ncom:signature>
      <ncom:signerName>Diane Kenneally </ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer </ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>NPORT-EX
<SEQUENCE>2
<FILENAME>1980_03.31.25_SOI.htm
<DESCRIPTION>SOI
<TEXT>
<html>
<head>
<title></title>
<!--Uncomment the following meta tag to help resolve IE/Edge rendering problems. This tag cannot be uncommented in an SEC submission or it will be rejected.-->
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</head><body style="margin: 0px"><div style="page-break-after:always;margin:-8px;position:relative;height:603px;width:387px"><div style="position:absolute;top:0px;left:0px;width:387px;height:603px">
		<div style="height:14.62px;left:0px;position:absolute;top:0px;transform:translate(28.800px,552.956px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:329.76px">
			<div style="height:100.00%;min-width:100%;width:100.00%;left:0px;position:absolute;top:0px;background-color:transparent;background-repeat:no-repeat;background-size:cover;background-image:url(data:image/png;base64,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)"></div>
		</div>
		<div style="height:25.60px;left:0px;position:absolute;top:0px;transform:translate(28.800px,5.579px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:174.91px">
			<div style="width:3498.1px;height:360px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,5.91px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:291px;font-weight:bold;position:absolute;top:0px;left:0px;letter-spacing:-1.36px;white-space:nowrap">Schedule of Investments</div></div>
		</div>
		<div style="height:18.04px;left:0px;position:absolute;top:0px;transform:translate(203.705px,12.453px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:154.85px">
			<div style="width:3097.1px;height:265.88px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,3.75px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:168px;font-weight:bold;position:absolute;top:0px;left:467.62px;letter-spacing:-0.45px;white-space:nowrap">as of March 31, 2025 (Unaudited) </div></div>
		</div>
		<div style="height:30.96px;left:0px;position:absolute;top:0px;transform:translate(28.800px,28.748px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:329.76px">
			<div style="width:6595.2px;height:504px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,4.76px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:260px;font-weight:bold;position:absolute;top:0px;left:0px;letter-spacing:-0.54px;white-space:nowrap">The European Equity Fund, Inc.</div></div>
		</div>
		<div style="background-image:url(data:image/png;base64,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);background-repeat:no-repeat;background-size:cover;height:487.24px;left:0px;position:absolute;top:0px;transform:translate(28.800px,55.131px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:329.76px">
			<div style="width:6595.2px;height:9675.52px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.47px) rotate(0deg) scale(0.05)">







































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:53px;left:5020.29px;letter-spacing:-0.34px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:53px;left:5934.35px;letter-spacing:-1.66px;white-space:nowrap">Value ($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:194px;font-weight:bold;position:absolute;top:300px;left:0px;letter-spacing:-0.59px;white-space:nowrap">Common Stocks 95.2%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:584.5px;left:0px;letter-spacing:-0.66px;white-space:nowrap">France 20.2%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:854px;left:0px;letter-spacing:-0.25px;white-space:nowrap">Banks 2.0% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1069px;left:0px;letter-spacing:-0.44px;white-space:nowrap">Societe Generale SA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1069px;left:5015.01px;white-space:nowrap">32,674</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1069px;left:5863.77px;white-space:nowrap">1,460,567</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1344px;left:0px;letter-spacing:-0.24px;white-space:nowrap">Building Products 1.5% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1559px;left:0px;letter-spacing:-0.61px;white-space:nowrap">Cie de Saint-Gobain SA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1559px;left:5015.01px;white-space:nowrap">11,146</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1559px;left:5863.77px;white-space:nowrap">1,103,855</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1834px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.16px;white-space:nowrap">Construction &amp; Engineering 1.8% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2049px;left:0px;letter-spacing:-0.44px;white-space:nowrap">Vinci SA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2049px;left:5015.01px;white-space:nowrap">10,591</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2049px;left:5863.77px;white-space:nowrap">1,330,272</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2324px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-1.06px;white-space:nowrap">Diversified Telecommunication Services 1.1% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2539px;left:0px;letter-spacing:-0.69px;white-space:nowrap">Orange SA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2539px;left:5015.01px;white-space:nowrap">58,462</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2539px;left:6001.41px;white-space:nowrap">757,352</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2814px;left:0px;letter-spacing:-0.43px;white-space:nowrap">Electrical Equipment 1.9% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3029px;left:0px;white-space:nowrap">Schneider Electric SE</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3029px;left:5106.24px;white-space:nowrap">6,013</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3029px;left:5863.77px;white-space:nowrap">1,368,619</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3304px;left:0px;letter-spacing:-0.52px;white-space:nowrap">Entertainment 0.4% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3519px;left:0px;letter-spacing:-0.22px;white-space:nowrap">Vivendi SE</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3519px;left:5015.01px;white-space:nowrap">85,716</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3519px;left:6001.41px;white-space:nowrap">255,225</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3794px;left:0px;letter-spacing:-0.4px;white-space:nowrap">Insurance 4.8% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4009px;left:0px;letter-spacing:-0.44px;white-space:nowrap">AXA SA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4009px;left:5015.01px;white-space:nowrap">54,014</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4009px;left:5868.52px;white-space:nowrap">2,298,404</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4224px;left:0px;letter-spacing:-0.35px;white-space:nowrap">SCOR SE</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4224px;left:5015.01px;white-space:nowrap">40,074</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4224px;left:5868.52px;white-space:nowrap">1,152,111</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4488px;left:5863.77px;white-space:nowrap">3,450,515</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4735px;left:0px;white-space:nowrap">IT Services 0.6% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4950px;left:0px;letter-spacing:-0.13px;white-space:nowrap">Capgemini SE</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4950px;left:5106.24px;white-space:nowrap">3,101</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4950px;left:6001.41px;white-space:nowrap">462,341</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5225px;left:0px;white-space:nowrap">Oil, Gas &amp; Consumable Fuels 1.8% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5440px;left:0px;letter-spacing:-1.66px;white-space:nowrap">TotalEnergies SE</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5440px;left:5015.01px;white-space:nowrap">19,869</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5440px;left:5863.77px;white-space:nowrap">1,280,215</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5715px;left:0px;letter-spacing:-0.57px;white-space:nowrap">Personal Care Products 1.7% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5930px;left:0px;letter-spacing:-0.44px;white-space:nowrap">L&#39;Oreal SA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5930px;left:5106.24px;white-space:nowrap">3,224</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5930px;left:5863.77px;white-space:nowrap">1,193,776</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6205px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.07px;white-space:nowrap">Pharmaceuticals 1.1% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6420px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.44px;white-space:nowrap">Sanofi SA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6420px;left:5106.24px;white-space:nowrap">7,452</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6420px;left:6001.41px;white-space:nowrap">820,269</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6695px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-1.84px;white-space:nowrap">Textiles, Apparel &amp; Luxury Goods 1.5% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6910px;left:0px;letter-spacing:-2.46px;white-space:nowrap">LVMH Moet Hennessy Louis Vuitton SE</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6910px;left:5106.24px;white-space:nowrap">1,769</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6910px;left:5863.77px;white-space:nowrap">1,092,244</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7217px;left:0px;letter-spacing:-2.89px;white-space:nowrap">Total France</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7217px;left:898.77px;letter-spacing:-0.37px;white-space:nowrap"> (Cost $14,114,761)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7217px;left:5772.54px;white-space:nowrap">14,575,250</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:7679px;left:0px;letter-spacing:-0.47px;white-space:nowrap">Germany 19.6%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7948.5px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-1.06px;white-space:nowrap">Diversified Telecommunication Services 1.1% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8163.5px;left:0px;letter-spacing:-2.86px;white-space:nowrap">Deutsche Telekom AG (Registered)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8163.5px;left:5015.01px;white-space:nowrap">22,175</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8163.5px;left:6001.41px;white-space:nowrap">819,535</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8438.5px;left:0px;letter-spacing:-0.49px;white-space:nowrap">Health Care Providers &amp; Services 2.8% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8653.5px;left:0px;letter-spacing:-1.76px;white-space:nowrap">Fresenius SE &amp; Co KGaA*</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8653.5px;left:5015.01px;white-space:nowrap">48,383</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8653.5px;left:5863.77px;white-space:nowrap">2,057,226</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8928.5px;left:0px;letter-spacing:-0.78px;white-space:nowrap">Independent Power &amp; Renewable Electricity Producers 0.9% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:9143.5px;left:0px;letter-spacing:-0.44px;white-space:nowrap">RWE AG</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:9143.5px;left:5015.01px;white-space:nowrap">18,682</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:9143.5px;left:6001.41px;white-space:nowrap">666,230</div></div>
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style="background-image:url(data:image/png;base64,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);background-repeat:no-repeat;background-size:cover;height:516.04px;left:0px;position:absolute;top:0px;transform:translate(28.800px,26.331px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:329.76px">
			<div style="width:6595.2px;height:10251.52px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.47px) rotate(0deg) scale(0.05)">














































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:53px;left:5020.29px;letter-spacing:-0.34px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:53px;left:5934.35px;letter-spacing:-1.66px;white-space:nowrap">Value ($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:300px;left:0px;letter-spacing:-0.4px;white-space:nowrap">Insurance 2.7% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:515px;left:0px;letter-spacing:-0.84px;white-space:nowrap">Allianz SE (Registered)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:515px;left:5106.24px;white-space:nowrap">5,157</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:515px;left:5863.77px;white-space:nowrap">1,961,042</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:790px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.79px;white-space:nowrap">Interactive Media &amp; Services 1.6% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1005px;left:0px;letter-spacing:-0.22px;white-space:nowrap">Scout24 SE 144A</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1005px;left:5015.01px;white-space:nowrap">11,365</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1005px;left:5863.77px;white-space:nowrap">1,183,233</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1280px;left:0px;letter-spacing:0.08px;white-space:nowrap">Machinery 2.2% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1495px;left:0px;letter-spacing:-2.05px;white-space:nowrap">Daimler Truck Holding AG</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1495px;left:5015.01px;white-space:nowrap">17,444</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1495px;left:6003.78px;white-space:nowrap">699,323</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1710px;left:0px;letter-spacing:-1.61px;white-space:nowrap">Knorr-Bremse AG</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1710px;left:5106.24px;white-space:nowrap">9,357</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1710px;left:6003.78px;white-space:nowrap">844,319</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1974px;left:5863.77px;white-space:nowrap">1,543,642</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2221px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">Multi-Utilities 2.1% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2436px;left:0px;letter-spacing:-0.35px;white-space:nowrap">E.ON SE</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2436px;left:4923.78px;white-space:nowrap">101,509</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2436px;left:5863.77px;white-space:nowrap">1,530,431</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2711px;left:0px;letter-spacing:-0.54px;white-space:nowrap">Passenger Airlines 1.0% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2926px;left:0px;letter-spacing:-0.84px;white-space:nowrap">Deutsche Lufthansa AG (Registered)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2926px;left:4923.78px;white-space:nowrap">103,843</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2926px;left:6001.41px;white-space:nowrap">750,959</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3201px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.07px;white-space:nowrap">Pharmaceuticals 1.0% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3416px;left:0px;letter-spacing:-1.76px;white-space:nowrap">Merck KGaA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3416px;left:5106.24px;white-space:nowrap">5,163</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3416px;left:6001.41px;white-space:nowrap">705,927</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3691px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.44px;white-space:nowrap">Software 2.6% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3906px;left:0px;letter-spacing:-0.22px;white-space:nowrap">SAP SE</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3906px;left:5106.24px;white-space:nowrap">6,979</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3906px;left:5863.77px;white-space:nowrap">1,842,121</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4181px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-1.84px;white-space:nowrap">Textiles, Apparel &amp; Luxury Goods 0.9% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4396px;left:0px;letter-spacing:-0.44px;white-space:nowrap">adidas AG</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4396px;left:5106.24px;white-space:nowrap">2,769</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4396px;left:6001.41px;white-space:nowrap">648,046</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4671px;left:0px;letter-spacing:-1.65px;white-space:nowrap">Trading Companies &amp; Distributors 0.7% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4886px;left:0px;letter-spacing:-0.78px;white-space:nowrap">Brenntag SE</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4886px;left:5106.24px;white-space:nowrap">8,240</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4886px;left:6001.41px;white-space:nowrap">530,392</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5193px;left:0px;letter-spacing:-2.89px;white-space:nowrap">Total Germany</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5193px;left:1087.91px;letter-spacing:-0.37px;white-space:nowrap"> (Cost $11,087,373)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5193px;left:5772.54px;white-space:nowrap">14,238,784</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:5655px;left:0px;letter-spacing:-0.37px;white-space:nowrap">United Kingdom 19.6%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5924.5px;left:0px;letter-spacing:-0.25px;white-space:nowrap">Banks 3.6% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6139.5px;left:0px;letter-spacing:-0.59px;white-space:nowrap">HSBC Holdings PLC</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6139.5px;left:4923.78px;white-space:nowrap">232,688</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6139.5px;left:5863.77px;white-space:nowrap">2,624,791</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6414.5px;left:0px;letter-spacing:-0.77px;white-space:nowrap">Capital Markets 1.7% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6629.5px;left:0px;letter-spacing:-0.59px;white-space:nowrap">London Stock Exchange Group PLC</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6629.5px;left:5106.24px;white-space:nowrap">8,144</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6629.5px;left:5863.77px;white-space:nowrap">1,204,707</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6904.5px;left:0px;white-space:nowrap">Electric Utilities 1.0% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7119.5px;left:0px;letter-spacing:-0.59px;white-space:nowrap">SSE PLC</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7119.5px;left:5015.01px;white-space:nowrap">36,127</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7119.5px;left:6001.41px;white-space:nowrap">743,326</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7394.5px;left:0px;letter-spacing:-1px;white-space:nowrap">Hotels, Restaurants &amp; Leisure 2.9% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7609.5px;left:0px;letter-spacing:-0.59px;white-space:nowrap">Compass Group PLC</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7609.5px;left:5015.01px;white-space:nowrap">63,078</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7609.5px;left:5863.77px;white-space:nowrap">2,078,680</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7884.5px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.79px;white-space:nowrap">Interactive Media &amp; Services 0.9% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8099.5px;left:0px;letter-spacing:-2.26px;white-space:nowrap">Auto Trader Group PLC 144A</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8099.5px;left:5015.01px;white-space:nowrap">69,757</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8099.5px;left:6001.41px;white-space:nowrap">670,095</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8374.5px;left:0px;white-space:nowrap">Media 1.1% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8589.5px;left:0px;letter-spacing:-0.66px;white-space:nowrap">Informa PLC</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8589.5px;left:5015.01px;white-space:nowrap">83,569</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8589.5px;left:6001.41px;white-space:nowrap">829,958</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8864.5px;left:0px;white-space:nowrap">Oil, Gas &amp; Consumable Fuels 2.7% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:9079.5px;left:0px;letter-spacing:-0.59px;white-space:nowrap">Shell PLC</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:9079.5px;left:5015.01px;white-space:nowrap">54,481</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:9079.5px;left:5863.77px;white-space:nowrap">1,986,655</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:9354.5px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.07px;white-space:nowrap">Pharmaceuticals 2.6% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:9569.5px;left:0px;letter-spacing:-0.84px;white-space:nowrap">AstraZeneca PLC</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:9569.5px;left:5015.01px;white-space:nowrap">12,683</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:9569.5px;left:5863.77px;white-space:nowrap">1,842,416</div></div>
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style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAq8AAAQzCAYAAABNFcWfAAAACXBIWXMAABcRAAAXEQHKJvM/AAAVvUlEQVR4Xu3bsW0jVxSG0UtjYAhuQi2oA9mV2dvBJmTAaDux3InVhCFsMi7hTbAA51udE//ZTT6Qby77vg8AABT8shoAAMBZiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgY1sNAIBjrrf728y8rnY81PvMPK9GnJdfXgEAyPDLKwD8ON9m5m2x4bGeZuZjNeK8Lvu+rzYAAHAKng0AAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyNiut/vbagQAHPJ9Zn5djXgoN4rbZuZ1NQIADnmfmefViIdyo7htZr6sRgDAIU8z87Ea8VBuFHfZ9321AQCAU/DBFgAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAICMbTUAAPhZXG/3rzPzstpxXuIVAPhMXmbmdTXivMQrAPCZfJuZt8WGE7vs+77aAADAKfhgCwCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCAjG01AAD4WVxv968z87LacV7iFQD4TF5m5nU14rzEKwDwmXybmbfFhhO77Pu+2gAAwCn4YAsAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAxna93X9fjQCAQ36bmf9WIx7KjeK2mfl7NQIADnmfmefViIdyozjPBgAAyNhm5o/VCAA4xF/S5+dGcZd931cbAAA4Bc8GAADIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ4hUAgAzxCgBAhngFACBDvAIAkCFeAQDIEK8AAGSIVwAAMsQrAAAZ2/V2/2s1AgAOeZqZj9WIh3KjuG1m/lyNAIBD3mfmeTXiodwobpuZf1YjAOCQ7zPz72rEQ7lR3GXf99UGAABOwQdbAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADLEKwAAGeIVAIAM8QoAQIZ4BQAgQ7wCAJAhXgEAyBCvAABkiFcAADK26+2+r0YAwCHvM/O8GvFQbhTnl1cAADK2mfmyGgEAhzzNzMdqxEO5Udxl370aAACgwbMBAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABniFQCADPEKAECGeAUAIEO8AgCQIV4BAMgQrwAAZIhXAAAyxCsAABn/A0ERVAEJGK6JAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:516.04px;left:0px;position:absolute;top:0px;transform:translate(28.800px,26.331px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:329.76px">
			<div style="width:6595.2px;height:10251.52px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.47px) rotate(0deg) scale(0.05)">







































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:53px;left:5020.29px;letter-spacing:-0.34px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:53px;left:5934.35px;letter-spacing:-1.66px;white-space:nowrap">Value ($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:300px;left:0px;letter-spacing:-0.41px;white-space:nowrap">Professional Services 2.2% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:515px;left:0px;letter-spacing:-0.59px;white-space:nowrap">RELX PLC</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:515px;left:5015.01px;white-space:nowrap">31,571</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:515px;left:5863.77px;white-space:nowrap">1,578,319</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:790px;left:0px;letter-spacing:-1.65px;white-space:nowrap">Trading Companies &amp; Distributors 0.9% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1005px;left:0px;letter-spacing:-0.59px;white-space:nowrap">Ashtead Group PLC</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1005px;left:5015.01px;white-space:nowrap">11,543</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1005px;left:6001.41px;white-space:nowrap">617,742</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1312px;left:0px;letter-spacing:-2.89px;white-space:nowrap">Total United Kingdom</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1312px;left:1613.5px;letter-spacing:-0.37px;white-space:nowrap"> (Cost $10,412,246)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1312px;left:5772.54px;white-space:nowrap">14,176,689</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:1774px;left:0px;letter-spacing:-0.49px;white-space:nowrap">Switzerland 9.6%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2043.5px;left:0px;letter-spacing:-0.11px;white-space:nowrap">Chemicals 2.2% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2258.5px;left:0px;letter-spacing:-0.44px;white-space:nowrap">DSM-Firmenich AG</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2258.5px;left:5106.24px;white-space:nowrap">8,220</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2258.5px;left:6003.78px;white-space:nowrap">811,057</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2473.5px;left:0px;letter-spacing:-0.84px;white-space:nowrap">Sika AG (Registered)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2473.5px;left:5106.24px;white-space:nowrap">3,153</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2473.5px;left:6003.78px;white-space:nowrap">760,000</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2737.5px;left:5863.77px;white-space:nowrap">1,571,057</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2984.5px;left:0px;letter-spacing:-0.44px;white-space:nowrap">Food Products 2.0% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3199.5px;left:0px;letter-spacing:-0.84px;white-space:nowrap">Nestle SA (Registered)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3199.5px;left:5015.01px;white-space:nowrap">13,981</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3199.5px;left:5863.77px;white-space:nowrap">1,412,168</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3474.5px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.07px;white-space:nowrap">Pharmaceuticals 4.6% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3689.5px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.84px;white-space:nowrap">Novartis AG (Registered)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3689.5px;left:5015.01px;white-space:nowrap">15,802</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3689.5px;left:5868.52px;white-space:nowrap">1,747,957</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3904.5px;left:0px;letter-spacing:-0.66px;white-space:nowrap">Roche Holding AG</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3904.5px;left:5106.24px;white-space:nowrap">4,948</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3904.5px;left:5868.52px;white-space:nowrap">1,625,092</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4168.5px;left:5863.77px;white-space:nowrap">3,373,049</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4415.5px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-1.84px;white-space:nowrap">Textiles, Apparel &amp; Luxury Goods 0.8% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4630.5px;left:0px;letter-spacing:-0.84px;white-space:nowrap">Cie Financiere Richemont SA &#39;&#39;A&#39;&#39; (Registered)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4630.5px;left:5106.24px;white-space:nowrap">3,520</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4630.5px;left:6001.41px;white-space:nowrap">608,687</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4937.5px;left:0px;letter-spacing:-2.89px;white-space:nowrap">Total Switzerland</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4937.5px;left:1277.93px;letter-spacing:-0.37px;white-space:nowrap"> (Cost $7,574,631)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4937.5px;left:5863.77px;white-space:nowrap">6,964,961</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:5399.5px;left:0px;letter-spacing:-0.12px;white-space:nowrap">Netherlands 5.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5669px;left:0px;letter-spacing:-0.25px;white-space:nowrap">Banks 2.0% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5884px;left:0px;letter-spacing:-1.32px;white-space:nowrap">ABN AMRO Bank NV (CVA) 144A</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5884px;left:5015.01px;white-space:nowrap">67,370</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5884px;left:5863.77px;white-space:nowrap">1,408,626</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6159px;left:0px;white-space:nowrap">Financial Services 0.8% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6374px;left:0px;letter-spacing:-0.37px;white-space:nowrap">Adyen NV 144A*</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6374px;left:5241.51px;white-space:nowrap">380</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6374px;left:6001.41px;white-space:nowrap">577,022</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6649px;left:0px;letter-spacing:-0.43px;white-space:nowrap">Semiconductors &amp; Semiconductor Equipment 3.1% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6864px;left:0px;white-space:nowrap">ASML Holding NV</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6864px;left:5106.24px;white-space:nowrap">3,463</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6864px;left:5863.77px;white-space:nowrap">2,266,464</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7171px;left:0px;letter-spacing:-2.89px;white-space:nowrap">Total Netherlands</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7171px;left:1324.34px;letter-spacing:-0.37px;white-space:nowrap"> (Cost $2,399,974)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7171px;left:5863.77px;white-space:nowrap">4,252,112</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:7633px;left:0px;white-space:nowrap">Denmark 4.3%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7902.5px;left:0px;letter-spacing:-0.46px;white-space:nowrap">Air Freight &amp; Logistics 1.2% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8117.5px;left:0px;letter-spacing:-0.22px;white-space:nowrap">DSV A/S</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8117.5px;left:5106.24px;white-space:nowrap">4,543</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8117.5px;left:6001.41px;white-space:nowrap">876,348</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8392.5px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.07px;white-space:nowrap">Pharmaceuticals 3.1% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8607.5px;left:0px;letter-spacing:-0.53px;white-space:nowrap">Novo Nordisk A/S &#39;&#39;B&#39;&#39;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8607.5px;left:5015.01px;white-space:nowrap">32,396</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8607.5px;left:5863.77px;white-space:nowrap">2,203,286</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8914.5px;left:0px;letter-spacing:-2.89px;white-space:nowrap">Total Denmark</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8914.5px;left:1091.07px;letter-spacing:-0.37px;white-space:nowrap"> (Cost $1,524,711)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8914.5px;left:5863.77px;white-space:nowrap">3,079,634</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:9376.5px;left:0px;letter-spacing:-0.51px;white-space:nowrap">Sweden 3.7%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:9646px;left:0px;letter-spacing:-0.25px;white-space:nowrap">Banks 1.2% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:9861px;left:0px;letter-spacing:-0.34px;white-space:nowrap">Swedbank AB &#39;&#39;A&#39;&#39;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:180px;position:absolute;top:9845.27px;left:1272.3px;white-space:nowrap">&#8224;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:9861px;left:5015.01px;white-space:nowrap">37,067</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:9861px;left:6001.41px;white-space:nowrap">840,738</div></div>
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style="background-image:url(data:image/png;base64,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);background-repeat:no-repeat;background-size:cover;height:516.04px;left:0px;position:absolute;top:0px;transform:translate(28.800px,26.331px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:329.76px">
			<div style="width:6595.2px;height:10251.52px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.47px) rotate(0deg) scale(0.05)">


























































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:53px;left:5020.29px;letter-spacing:-0.34px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:53px;left:5934.35px;letter-spacing:-1.66px;white-space:nowrap">Value ($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:300px;left:0px;letter-spacing:-0.52px;white-space:nowrap">Entertainment 1.0% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:515px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-1.48px;white-space:nowrap">Spotify Technology SA*</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:515px;left:5106.24px;white-space:nowrap">1,372</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:515px;left:6001.41px;white-space:nowrap">740,249</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:790px;left:0px;letter-spacing:0.08px;white-space:nowrap">Machinery 1.5% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1005px;left:0px;letter-spacing:-0.66px;white-space:nowrap">Atlas Copco AB &#39;&#39;A&#39;&#39;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1005px;left:5015.01px;white-space:nowrap">68,091</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1005px;left:5863.77px;white-space:nowrap">1,080,207</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1312px;left:0px;letter-spacing:-2.89px;white-space:nowrap">Total Sweden</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1312px;left:995.27px;letter-spacing:-0.37px;white-space:nowrap"> (Cost $2,190,131)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1312px;left:5863.77px;white-space:nowrap">2,661,194</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:1774px;left:0px;white-space:nowrap">Spain 3.4%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2043.5px;left:0px;letter-spacing:-0.25px;white-space:nowrap">Banks 2.1% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2258.5px;left:0px;letter-spacing:-0.44px;white-space:nowrap">Banco Santander SA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2258.5px;left:4923.78px;white-space:nowrap">220,714</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2258.5px;left:5863.77px;white-space:nowrap">1,476,947</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2533.5px;left:0px;letter-spacing:-0.8px;white-space:nowrap">Specialty Retail 1.3% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2748.5px;left:0px;letter-spacing:-3px;white-space:nowrap">Industria de Diseno Textil SA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2748.5px;left:5015.01px;white-space:nowrap">19,366</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2748.5px;left:6001.41px;white-space:nowrap">958,966</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3055.5px;left:0px;letter-spacing:-2.89px;white-space:nowrap">Total Spain</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3055.5px;left:816.06px;letter-spacing:-0.37px;white-space:nowrap"> (Cost $1,893,945)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3055.5px;left:5863.77px;white-space:nowrap">2,435,913</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:3517.5px;left:0px;letter-spacing:-0.69px;white-space:nowrap">Norway 3.2%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3787px;left:0px;letter-spacing:-0.25px;white-space:nowrap">Banks 2.0% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4002px;left:0px;letter-spacing:-0.29px;white-space:nowrap">DNB Bank ASA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4002px;left:5015.01px;white-space:nowrap">55,589</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4002px;left:5863.77px;white-space:nowrap">1,452,711</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4277px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-1.06px;white-space:nowrap">Diversified Telecommunication Services 1.2% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4492px;left:0px;letter-spacing:-2.03px;white-space:nowrap">Telenor ASA</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4492px;left:5015.01px;white-space:nowrap">62,407</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4492px;left:6001.41px;white-space:nowrap">890,920</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4799px;left:0px;letter-spacing:-2.89px;white-space:nowrap">Total Norway</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4799px;left:988.15px;letter-spacing:-0.37px;white-space:nowrap"> (Cost $1,914,630)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4799px;left:5863.77px;white-space:nowrap">2,343,631</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:5261px;left:0px;letter-spacing:-0.34px;white-space:nowrap">Italy 2.2%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5530.5px;left:0px;letter-spacing:-0.3px;white-space:nowrap">Banks</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5530.5px;left:483.75px;white-space:nowrap">2.2% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5745.5px;left:0px;letter-spacing:-0.5px;white-space:nowrap">Intesa Sanpaolo SpA (Cost $1,083,871) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5745.5px;left:4923.78px;white-space:nowrap">309,588</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5745.5px;left:5863.77px;white-space:nowrap">1,582,837</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:6235.5px;left:0px;letter-spacing:-0.94px;white-space:nowrap">United States 1.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6505px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.43px;white-space:nowrap">Construction Materials</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6505px;left:1745.24px;white-space:nowrap">1.9% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6720px;left:0px;letter-spacing:-0.44px;white-space:nowrap">CRH PLC (Cost $777,447) (a)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6720px;left:5015.01px;white-space:nowrap">15,690</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:6720px;left:5863.77px;white-space:nowrap">1,358,953</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:7210px;left:0px;letter-spacing:-0.29px;white-space:nowrap">Ireland 1.6%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7479.5px;left:0px;letter-spacing:-0.63px;white-space:nowrap">Containers &amp; Packaging</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7479.5px;left:1791.39px;white-space:nowrap">1.6% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7694.5px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-1.42px;white-space:nowrap">Smurfit WestRock PLC (Cost $1,428,553) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7694.5px;left:5015.01px;white-space:nowrap">26,343</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:7694.5px;left:5863.77px;white-space:nowrap">1,176,523</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8216.5px;left:0px;letter-spacing:-2.89px;white-space:nowrap">Total Common Stocks</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8216.5px;left:1598.2px;letter-spacing:-0.37px;white-space:nowrap"> (Cost $56,402,273)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:8216.5px;left:5772.54px;white-space:nowrap">68,846,481</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:194px;font-weight:bold;position:absolute;top:8678.5px;left:0px;letter-spacing:-1.09px;white-space:nowrap">Preferred Stocks 0.7%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:8963px;left:0px;letter-spacing:-0.47px;white-space:nowrap">Germany 0.7%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:9232.5px;left:0px;letter-spacing:-0.16px;white-space:nowrap">Automobiles</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:9232.5px;left:994.39px;white-space:nowrap">0.7% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:9447.5px;left:0px;letter-spacing:-0.93px;white-space:nowrap">Porsche Automobil Holding SE (Cost $1,267,155) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:9447.5px;left:5015.01px;white-space:nowrap">12,572</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:9447.5px;left:6001.41px;white-space:nowrap">469,247</div></div>
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		<div style="background-image:url(data:image/png;base64,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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:329.76px">
			<div style="width:6595.2px;height:10251.52px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.47px) rotate(0deg) scale(0.05)">


































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:53px;left:5020.29px;letter-spacing:-0.34px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:53px;left:5934.35px;letter-spacing:-1.66px;white-space:nowrap">Value ($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:194px;font-weight:bold;position:absolute;top:300px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-1px;white-space:nowrap">Securities Lending Collateral 1.7%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:584.5px;left:0px;letter-spacing:-0.83px;white-space:nowrap">DWS Government &amp; Agency Securities Portfolio &#39;&#39;DWS </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:800.5px;left:0px;letter-spacing:-0.4px;white-space:nowrap">Government Cash Institutional Shares&#39;&#39;, 4.25% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1016.5px;left:0px;letter-spacing:-0.37px;white-space:nowrap">(Cost 1,211,360) (b) (c)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1016.5px;left:4788.52px;white-space:nowrap">1,211,360</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1016.5px;left:5863.77px;white-space:nowrap">1,211,360</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:194px;font-weight:bold;position:absolute;top:1446.5px;left:0px;letter-spacing:-0.74px;white-space:nowrap">Cash Equivalents 3.4%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1731px;left:0px;letter-spacing:-0.66px;white-space:nowrap">DWS Central Cash Management Government Fund, 4.37% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1947px;left:0px;letter-spacing:-0.37px;white-space:nowrap">(Cost $2,475,361) (b)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1947px;left:4788.52px;white-space:nowrap">2,475,361</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:1947px;left:5863.77px;white-space:nowrap">2,475,361</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2697.94px;left:4878.52px;letter-spacing:-0.31px;white-space:nowrap">% of Net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2912.94px;left:5038.92px;letter-spacing:-0.21px;white-space:nowrap">Assets</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:2912.94px;left:5934.35px;letter-spacing:-1.66px;white-space:nowrap">Value ($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:3159.94px;left:0px;letter-spacing:-3.37px;white-space:nowrap">Total Investment Portfolio </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3182.44px;left:2304.87px;letter-spacing:-0.37px;white-space:nowrap">(Cost $61,356,149)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3182.44px;left:5089.51px;white-space:nowrap">101.0</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3182.44px;left:5772.54px;white-space:nowrap">73,002,449</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:3429.44px;left:0px;letter-spacing:-0.48px;white-space:nowrap">Other Assets and Liabilities, Net</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3451.94px;left:5218.18px;letter-spacing:-7.41px;white-space:nowrap">(1.0)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3451.94px;left:5945.34px;letter-spacing:-6.23px;white-space:nowrap">(743,685)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:3698.94px;left:0px;letter-spacing:-0.36px;white-space:nowrap">Net Assets</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3721.44px;left:5089.51px;white-space:nowrap">100.0</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3721.44px;left:5772.54px;white-space:nowrap">72,258,764</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4106.44px;left:0px;letter-spacing:-1.63px;white-space:nowrap">For information on the Fund&#8217;s policies regarding the valuation of investments and other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4322.44px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-1.63px;white-space:nowrap">significant accounting policies, please refer to the Fund&#8217;s most recent semi-annual or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4538.44px;left:0px;letter-spacing:-0.92px;white-space:nowrap">annual financial statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4968.44px;left:0px;letter-spacing:-1.63px;white-space:nowrap">A summary of the Fund&#8217;s transactions with affiliated investments during the period ended </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5184.44px;left:0px;letter-spacing:-0.88px;white-space:nowrap">March 31, 2025 are as follows:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:5617.44px;left:3409.89px;letter-spacing:-0.27px;white-space:nowrap">Net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:5809.44px;left:3160.12px;letter-spacing:-0.29px;white-space:nowrap">Change</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7181.44px;left:105.64px;letter-spacing:-1.47px;white-space:nowrap">Value ($) at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7373.44px;left:75.95px;white-space:nowrap">12/31/2024</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6989.44px;left:1062.58px;letter-spacing:-0.23px;white-space:nowrap">Purchases </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7181.44px;left:1440px;letter-spacing:-0.45px;white-space:nowrap">Cost</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7373.44px;left:1547.42px;white-space:nowrap">($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6989.44px;left:2229.92px;white-space:nowrap">Sales </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7181.44px;left:1964.37px;letter-spacing:-0.24px;white-space:nowrap">Proceeds</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7373.44px;left:2387.42px;white-space:nowrap">($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6413.44px;left:2780.89px;letter-spacing:-0.36px;white-space:nowrap">Net</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6605.44px;left:2685.65px;letter-spacing:-0.39px;white-space:nowrap">Real- </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6797.44px;left:2754.87px;letter-spacing:-0.74px;white-space:nowrap">ized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6989.44px;left:2646.36px;white-space:nowrap">Gain/</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7181.44px;left:2640.18px;white-space:nowrap">(Loss)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7373.44px;left:2840.42px;white-space:nowrap">($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6029.44px;left:3525.04px;white-space:nowrap">in</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6221.44px;left:3157px;letter-spacing:-0.22px;white-space:nowrap">Unreal- </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6413.44px;left:3383.87px;letter-spacing:-0.74px;white-space:nowrap">ized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6605.44px;left:3090.67px;letter-spacing:-0.26px;white-space:nowrap">Appreci- </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6797.44px;left:3238.4px;text-rendering:optimizeLegibility;letter-spacing:-0.3px;white-space:nowrap">ation/ </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6989.44px;left:3042.23px;letter-spacing:-0.26px;white-space:nowrap">(Depreci- </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7181.44px;left:3257.31px;text-rendering:optimizeLegibility;letter-spacing:-0.3px;white-space:nowrap">ation) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7373.44px;left:3469.42px;white-space:nowrap">($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7181.44px;left:3702.79px;letter-spacing:-0.13px;white-space:nowrap">Income</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7373.44px;left:4013.42px;white-space:nowrap">($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6605.44px;left:4300.18px;letter-spacing:-0.22px;white-space:nowrap">Capital</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6797.44px;left:4455.11px;white-space:nowrap">Gain</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6989.44px;left:4358.39px;letter-spacing:-0.3px;white-space:nowrap">Distri- </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7181.44px;left:4260.11px;text-rendering:optimizeLegibility;white-space:nowrap">butions</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7373.44px;left:4580.42px;white-space:nowrap">($)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6797.44px;left:5111.51px;white-space:nowrap">Number</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6989.44px;left:5043.47px;letter-spacing:-0.3px;white-space:nowrap">of Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7181.44px;left:5523.23px;letter-spacing:-0.74px;white-space:nowrap">at</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7373.44px;left:4951.04px;white-space:nowrap">3/31/2025</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:6989.44px;left:6007.78px;letter-spacing:-1.47px;white-space:nowrap">Value ($) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7181.44px;left:6462.23px;letter-spacing:-0.74px;white-space:nowrap">at</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7373.44px;left:5890.04px;white-space:nowrap">3/31/2025 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:7607.44px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.63px;white-space:nowrap">Securities Lending Collateral 1.7%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:7856.44px;left:0px;letter-spacing:-0.74px;white-space:nowrap">DWS Government &amp; Agency Securities Portfolio &#39;&#39;DWS Government Cash Institutional Shares&#39;&#39;, 4.25% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:8048.44px;left:0px;white-space:nowrap">(b) (c)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:8297.44px;left:336.5px;white-space:nowrap">263,920</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:8297.44px;left:987.58px;white-space:nowrap">947,440 (d)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:8297.44px;left:2488.51px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:8297.44px;left:2941.51px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:8297.44px;left:3570.51px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:8297.44px;left:3830.68px;white-space:nowrap">5,777</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:8297.44px;left:4681.51px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:8297.44px;left:5010.26px;white-space:nowrap">1,211,360</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:8297.44px;left:5949.26px;white-space:nowrap">1,211,360</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:8546.44px;left:0px;letter-spacing:-0.51px;white-space:nowrap">Cash Equivalents 3.4%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:8795.44px;left:0px;letter-spacing:-0.59px;white-space:nowrap">DWS Central Cash Management Government Fund, 4.37% (b)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:9044.44px;left:216.26px;white-space:nowrap">1,828,248</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:9044.44px;left:1082.26px;white-space:nowrap">3,773,327</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:9044.44px;left:1922.26px;white-space:nowrap">3,126,214</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:9044.44px;left:2941.51px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:9044.44px;left:3570.51px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:9044.44px;left:3749.59px;white-space:nowrap">18,040</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:9044.44px;left:4681.51px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:9044.44px;left:5010.26px;white-space:nowrap">2,475,361</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:9044.44px;left:5949.26px;white-space:nowrap">2,475,361</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:9293.44px;left:212.04px;white-space:nowrap">2,092,168</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:9293.44px;left:1078.04px;white-space:nowrap">4,720,767</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:9293.44px;left:1918.04px;white-space:nowrap">3,126,214</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:9293.44px;left:2941.51px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:300;position:absolute;top:9293.44px;left:3570.51px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:9293.44px;left:3747.48px;white-space:nowrap">23,817</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:9293.44px;left:4681.51px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:9293.44px;left:5006.04px;white-space:nowrap">3,686,721</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;font-weight:bold;position:absolute;top:9293.44px;left:5945.04px;white-space:nowrap">3,686,721</div></div>
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		<div style="height:14.62px;left:0px;position:absolute;top:0px;transform:translate(28.800px,552.956px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:329.76px">
			<div style="height:100.00%;min-width:100%;width:100.00%;left:0px;position:absolute;top:0px;background-color:transparent;background-repeat:no-repeat;background-size:cover;background-image:url(data:image/png;base64,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)"></div>
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		<div style="height:515.06px;left:0px;position:absolute;top:0px;transform:translate(28.800px,27.312px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:329.76px">
			<div style="width:6595.2px;height:10251.52px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.49px) rotate(0deg) scale(0.05)">




















			<div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:40px;left:0px;white-space:nowrap">*</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:40px;left:502.2px;letter-spacing:-1.37px;white-space:nowrap">Non-income producing security.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:180px;position:absolute;top:267.13px;left:0px;white-space:nowrap">&#8224;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:287px;left:502.2px;letter-spacing:-0.88px;white-space:nowrap">All or a portion of these securities were on loan. In addition, &#8220;Other Assets and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:503px;left:502.2px;text-rendering:optimizeLegibility;letter-spacing:-0.66px;white-space:nowrap">Liabilities, Net&#8221; includes pending sales amounting to $184,469 that are also on loan. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:719px;left:502.2px;letter-spacing:-0.59px;white-space:nowrap">The value of all securities loaned at March 31, 2025 amounted to $840,738, which is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:935px;left:502.2px;letter-spacing:-0.22px;white-space:nowrap">1.2% of net assets.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1182px;left:0px;white-space:nowrap">(a)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1182px;left:502.2px;letter-spacing:-0.88px;white-space:nowrap">CRH PLC is domiciled in United States and is listed on the London Stock Exchange.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1429px;left:0px;white-space:nowrap">(b)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1429px;left:502.2px;text-rendering:optimizeLegibility;letter-spacing:-1.41px;white-space:nowrap">Affiliated fund managed by DWS Investment Management Americas, Inc. The rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1645px;left:502.2px;letter-spacing:-0.62px;white-space:nowrap">shown is the annualized seven-day yield at period end.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1892px;left:0px;white-space:nowrap">(c)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1892px;left:502.2px;letter-spacing:-0.8px;white-space:nowrap">Represents cash collateral held in connection with securities lending. Income earned </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2108px;left:502.2px;letter-spacing:-0.77px;white-space:nowrap">by the Fund is net of borrower rebates.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2355px;left:0px;white-space:nowrap">(d)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2355px;left:502.2px;letter-spacing:-0.72px;white-space:nowrap">Represents the net increase (purchases cost) or decrease (sales proceeds) in the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2571px;left:502.2px;letter-spacing:-1.1px;white-space:nowrap">amount invested in cash collateral for the period ended March 31, 2025.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2898px;left:0px;white-space:nowrap">144A:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2898px;left:504.2px;text-rendering:optimizeLegibility;letter-spacing:-1.19px;white-space:nowrap">Securities exempt from registration under Rule 144A of the Securities Act of 1933. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3114px;left:504.2px;letter-spacing:-1.19px;white-space:nowrap">These securities may be resold in transactions exempt from registration, normally to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3330px;left:504.2px;text-rendering:optimizeLegibility;letter-spacing:-0.82px;white-space:nowrap">qualified institutional buyers.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3577px;left:0px;letter-spacing:-1.98px;white-space:nowrap">CVA:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3577px;left:504.2px;letter-spacing:-1.19px;white-space:nowrap">Credit Valuation Adjustment</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3824px;left:0px;letter-spacing:-1.76px;white-space:nowrap">For purposes of its industry concentration policy, the Fund classifies issuers of portfolio </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4040px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.81px;white-space:nowrap">securities at the industry sub-group level.&#160;&#160;Certain of the categories in the above Schedule of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:4256px;left:0px;letter-spacing:-0.73px;white-space:nowrap">Investments consist of multiple industry sub-groups or industries. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:179px;font-weight:bold;position:absolute;top:4856px;left:0px;letter-spacing:-1.93px;white-space:nowrap">Fair Value Measurements</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5197.5px;left:0px;letter-spacing:-1.63px;white-space:nowrap">Various inputs are used in determining the value of the Fund&#8217;s investments. These inputs </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5413.5px;left:0px;letter-spacing:-0.88px;white-space:nowrap">are summarized in three broad levels. Level 1 includes quoted prices in active markets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5629.5px;left:0px;letter-spacing:-1.1px;white-space:nowrap">for identical securities. Level 2 includes other significant observable inputs (including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:5845.5px;left:0px;letter-spacing:-1.1px;white-space:nowrap">quoted prices for similar securities, interest rates, prepayment speeds and credit risk). </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6061.5px;left:0px;letter-spacing:-1.63px;white-space:nowrap">Level 3 includes significant unobservable inputs (including the Fund&#8217;s own assumptions in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6277.5px;left:0px;letter-spacing:-0.79px;white-space:nowrap">determining the fair value of investments). The level assigned to the securities valuations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6493.5px;left:0px;letter-spacing:-0.88px;white-space:nowrap">may not be an indication of the risk associated with investing in those securities.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6923.5px;left:0px;letter-spacing:-1.63px;white-space:nowrap">The following is a summary of the inputs used as of March 31, 2025 in valuing the Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7139.5px;left:0px;letter-spacing:-0.68px;white-space:nowrap">investments. </div></div>
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		<div style="background-image:url(data:image/png;base64,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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:329.76px">
			<div style="width:6595.2px;height:10251.52px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.6px) rotate(0deg) scale(0.05)">






















































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4165px;left:0px;letter-spacing:-2.59px;white-space:nowrap">OBTAIN AN OPEN-END FUND PROSPECTUS</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4381px;left:0px;letter-spacing:-5.19px;white-space:nowrap">To obtain a summary prospectus, if available, or prospectus, download one from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4597px;left:0px;letter-spacing:-2.14px;white-space:nowrap">fundsus.dws.com, talk to your financial representative or call (800) 728-3337. We advise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:4813px;left:0px;letter-spacing:-0.87px;white-space:nowrap">you to carefully consider the product&#39;s objectives, risks, charges and expenses before </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5029px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.57px;white-space:nowrap">investing. The summary prospectus and prospectus contain this and other important </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5245px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.87px;white-space:nowrap">information about the investment product. Please read the prospectus carefully before </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5461px;left:0px;letter-spacing:-1.04px;white-space:nowrap">you invest</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;position:absolute;top:5476px;left:761.92px;white-space:nowrap">.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:5892px;left:0px;letter-spacing:-0.29px;white-space:nowrap">CLOSED-END FUNDS</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6108px;left:0px;letter-spacing:-0.88px;white-space:nowrap">The shares of most closed-end funds, including the Fund, are not continuously offered. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6324px;left:0px;letter-spacing:-0.88px;white-space:nowrap">Once issued, shares of closed-end funds are bought and sold in the open market. Shares of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6540px;left:0px;letter-spacing:-1.63px;white-space:nowrap">closed-end funds frequently trade at a discount to net asset value. The price of the fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6756px;left:0px;letter-spacing:-1.03px;white-space:nowrap">shares is determined by a number of factors, several of which are beyond the control of the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:6972px;left:0px;letter-spacing:-1.04px;white-space:nowrap">fund. Therefore, the fund cannot predict whether its shares will trade at, below or above </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7188px;left:0px;letter-spacing:-0.44px;white-space:nowrap">net asset value.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7619px;left:0px;letter-spacing:-1.76px;white-space:nowrap">The brand DWS represents DWS Group GmbH &amp; Co. KGaA and any of its subsidiaries </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:7835px;left:0px;letter-spacing:-1.26px;white-space:nowrap">such as DWS Distributors, Inc., which offers investment products, or DWS Investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8051px;left:0px;letter-spacing:-0.88px;white-space:nowrap">Management Americas Inc. and RREEF America L.L.C., which offer advisory services.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8482px;left:0px;letter-spacing:-3.08px;white-space:nowrap">NO BANK GUARANTEE | NOT FDIC INSURED | MAY LOSE VALUE</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:8913px;left:0px;letter-spacing:-0.38px;white-space:nowrap">EEA-PH1</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:9129px;left:0px;white-space:nowrap">R-080548-3 (1/27)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:40px;left:0px;letter-spacing:-0.21px;white-space:nowrap">Assets</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:40px;left:2354.65px;letter-spacing:-0.42px;white-space:nowrap">Level 1</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:40px;left:3491.65px;letter-spacing:-0.42px;white-space:nowrap">Level 2</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:40px;left:4629.65px;letter-spacing:-0.42px;white-space:nowrap">Level 3</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:40px;left:5844.18px;letter-spacing:-3.46px;white-space:nowrap">Total</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:255px;left:0px;letter-spacing:-0.73px;white-space:nowrap">Common Stocks and/or Other Equity Investments (e) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:470px;left:180px;letter-spacing:-0.5px;white-space:nowrap">Germany</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:470px;left:2044.2px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:470px;left:2252.29px;letter-spacing:0px;white-space:nowrap">14,708,031</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:470px;left:3181.2px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:470px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:470px;left:4318.2px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:470px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:470px;left:5457.2px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:470px;left:5665.29px;letter-spacing:0px;white-space:nowrap">14,708,031</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:685px;left:180px;letter-spacing:-0.59px;white-space:nowrap">France</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:685px;left:2252.29px;letter-spacing:0px;white-space:nowrap">14,575,250</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:685px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:685px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:685px;left:5665.29px;letter-spacing:0px;white-space:nowrap">14,575,250</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:900px;left:180px;letter-spacing:-0.25px;white-space:nowrap">United Kingdom</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:900px;left:2252.29px;letter-spacing:0px;white-space:nowrap">14,176,689</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:900px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:900px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:900px;left:5665.29px;letter-spacing:0px;white-space:nowrap">14,176,689</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1115px;left:180px;letter-spacing:-0.52px;white-space:nowrap">Switzerland</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1115px;left:2343.52px;letter-spacing:0px;white-space:nowrap">6,964,961</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1115px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1115px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1115px;left:5756.52px;letter-spacing:0px;white-space:nowrap">6,964,961</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1330px;left:180px;letter-spacing:-0.08px;white-space:nowrap">Netherlands</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1330px;left:2343.52px;letter-spacing:0px;white-space:nowrap">4,252,112</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1330px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1330px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1330px;left:5756.52px;letter-spacing:0px;white-space:nowrap">4,252,112</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1545px;left:180px;white-space:nowrap">Denmark</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1545px;left:2343.52px;letter-spacing:0px;white-space:nowrap">3,079,634</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1545px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1545px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1545px;left:5756.52px;letter-spacing:0px;white-space:nowrap">3,079,634</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1760px;left:180px;letter-spacing:-0.51px;white-space:nowrap">Sweden</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1760px;left:2343.52px;letter-spacing:0px;white-space:nowrap">2,661,194</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1760px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1760px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1760px;left:5756.52px;letter-spacing:0px;white-space:nowrap">2,661,194</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1975px;left:180px;white-space:nowrap">Spain</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1975px;left:2343.52px;letter-spacing:0px;white-space:nowrap">2,435,913</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1975px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1975px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:1975px;left:5756.52px;letter-spacing:0px;white-space:nowrap">2,435,913</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2190px;left:180px;letter-spacing:-0.81px;white-space:nowrap">Norway</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2190px;left:2343.52px;letter-spacing:0px;white-space:nowrap">2,343,631</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2190px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2190px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2190px;left:5756.52px;letter-spacing:0px;white-space:nowrap">2,343,631</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2405px;left:180px;letter-spacing:-0.53px;white-space:nowrap">Italy</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2405px;left:2343.52px;letter-spacing:0px;white-space:nowrap">1,582,837</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2405px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2405px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2405px;left:5756.52px;letter-spacing:0px;white-space:nowrap">1,582,837</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2620px;left:180px;letter-spacing:-1.03px;white-space:nowrap">United States</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2620px;left:2343.52px;letter-spacing:0px;white-space:nowrap">1,358,953</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2620px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2620px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2620px;left:5756.52px;letter-spacing:0px;white-space:nowrap">1,358,953</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2835px;left:180px;letter-spacing:-0.38px;white-space:nowrap">Ireland</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2835px;left:2343.52px;letter-spacing:0px;white-space:nowrap">1,176,523</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2835px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2835px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:2835px;left:5756.52px;letter-spacing:0px;white-space:nowrap">1,176,523</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3038px;left:0px;letter-spacing:-2.04px;white-space:nowrap">Short-Term Instruments (e)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3038px;left:2343.52px;letter-spacing:0px;white-space:nowrap">3,686,721</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3038px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3038px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3038px;left:5756.52px;letter-spacing:0px;white-space:nowrap">3,686,721</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3253px;left:0px;letter-spacing:-3.46px;white-space:nowrap">Total</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3253px;left:2044.2px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3253px;left:2247.54px;letter-spacing:0px;white-space:nowrap">73,002,449</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3253px;left:3181.2px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3253px;left:4044.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3253px;left:4318.2px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3253px;left:5181.25px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3253px;left:5457.2px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:149px;font-weight:bold;position:absolute;top:3253px;left:5660.54px;letter-spacing:0px;white-space:nowrap">73,002,449</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:152px;font-weight:300;position:absolute;top:3468px;left:0px;letter-spacing:-1.1px;white-space:nowrap">(e) See Schedule of Investments for additional detailed categorizations.</div></div>
		</div>


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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
