Schedule
of
Investments
as
of
July
31,
2024
(Unaudited)
The
Central
and
Eastern
Europe
Fund,
Inc.
Shares
Value
($)
Poland
61.8%
Common
Stocks
Air
Freight
&
Logistics
0.5%
InPost
SA*
20,000
345,871
Banks
13.0%
Alior
Bank
SA
25,000
597,882
Bank
Polska
Kasa
Opieki
SA
130,000
5,257,028
Powszechna
Kasa
Oszczednosci
Bank
Polski
SA
225,000
3,344,510
9,199,420
Broadline
Retail
3.2%
Allegro.eu
SA
144A*
247,775
2,273,796
Capital
Markets
1.1%
Warsaw
Stock
Exchange
†
75,000
802,660
Commercial
Services
&
Supplies
1.0%
Mo-BRUK
SA
†
10,000
726,081
Construction
&
Engineering
1.9%
Budimex
SA
8,250
1,325,949
Consumer
Staples
Distribution
&
Retail
2.2%
Dino
Polska
SA
144A*
17,500
1,553,006
Diversified
Telecommunication
Services
2.0%
Orange
Polska
SA
700,000
1,401,588
Electric
Utilities
5.4%
Enea
SA*
250,000
694,567
PGE
Polska
Grupa
Energetyczna
SA*
1,100,000
2,024,455
Tauron
Polska
Energia
SA*
1,100,000
1,053,271
3,772,293
Entertainment
0.0%
CD
Projekt
SA
100
4,010
Household
Durables
0.5%
Dom
Development
SA
8,500
361,729
Insurance
8.2%
Powszechny
Zaklad
Ubezpieczen
SA
475,000
5,810,412
Interactive
Media
&
Services
0.4%
Wirtualna
Polska
Holding
SA
(Registered)
11,000
255,414
Metals
&
Mining
4.6%
Grupa
Kety
SA
3,250
673,925
KGHM
Polska
Miedz
SA
75,000
2,573,428
3,247,353
Shares
Value
($)
Oil,
Gas
&
Consumable
Fuels
9.7%
ORLEN
SA
422,500
6,888,460
Professional
Services
1.4%
Benefit
Systems
SA
1,100
734,905
Grupa
Pracuj
SA
20,000
293,962
1,028,867
Real
Estate
Management
&
Development
1.3%
Develia
SA
275,000
394,491
Murapol
SA
60,000
548,191
942,682
Textiles,
Apparel
&
Luxury
Goods
5.4%
LPP
SA
1,000
3,829,573
Total
Poland
(Cost
$31,038,874)
43,769,164
Hungary
18.0%
Common
Stocks
Banks
6.5%
OTP
Bank
Nyrt
90,000
4,606,484
Diversified
Telecommunication
Services
2.1%
Magyar
Telekom
Telecommunications
PLC
(ADR)
500,000
1,496,102
Oil,
Gas
&
Consumable
Fuels
4.4%
MOL
Hungarian
Oil
&
Gas
PLC
400,000
3,116,284
Pharmaceuticals
5.0%
Richter
Gedeon
Nyrt
125,000
3,561,821
Total
Hungary
(Cost
$8,517,333)
12,780,691
Russia
6.9%
Common
Stocks
Banks
0.0%
Sberbank
of
Russia
PJSC**
(a)
3,600,000
0
Broadline
Retail
1.6%
Ozon
Holdings
PLC
(ADR)*
(a)
60,000
1,128,400
Chemicals
0.0%
PhosAgro
PJSC
(GDR)
(Registered)*
(a)
90,000
0
Consumer
Staples
Distribution
&
Retail
1.6%
Fix
Price
Group
PLC
(GDR)
(Registered)*
(a)
125,000
118,750
Magnit
PJSC**
(a)
63,909
0
X5
Retail
Group
NV
(GDR)
(Registered)*
(a)
137,884
999,659
1,118,409
Shares
Value
($)
Interactive
Media
&
Services
1.0%
Yandex
NV
''A''*
(a)
188,000
687,486
Metals
&
Mining
0.0%
Alrosa
PJSC**
(a)
1,670,000
0
GMK
Norilskiy
Nickel
PAO
(ADR)*
(a)
50,000
0
Magnitogorsk
Iron
&
Steel
Works
PJSC
(GDR)
(Registered)*
(a)
74,569
0
Polyus
PJSC
(GDR)
(Registered)*
(a)
20,000
0
0
Oil,
Gas
&
Consumable
Fuels
2.4%
Gazprom
PJSC**
(a)
5,000,000
0
Lukoil
PJSC**
(a)
209,500
0
Novatek
PJSC
(GDR)
(Registered)*
(a)
37,500
1,218,750
Tatneft
PJSC
(ADR)*
†
(a)
100,000
478,400
1,697,150
Wireless
Telecommunication
Services
0.3%
Mobile
Telesystems
PJSC
(ADR)*
(a)
250,000
232,500
Total
Russia
(Cost
$58,955,122)
4,863,945
Czech
Republic
3.9%
Common
Stocks
Banks
1.5%
Komercni
Banka
AS
30,000
1,035,098
Moneta
Money
Bank
AS
144A
1,000
4,572
1,039,670
Electric
Utilities
2.4%
CEZ
AS
45,000
1,729,519
Total
Czech
Republic
(Cost
$2,687,237)
2,769,189
Moldova
3.4%
Common
Stocks
Beverages
3.4%
Purcari
Wineries
PLC
(Registered)
(Cost
$1,551,236)
700,000
2,403,877
Austria
2.4%
Common
Stocks
Banks
2.4%
Erste
Group
Bank
AG
32,500
1,691,046
Oil,
Gas
&
Consumable
Fuels
0.0%
OMV
AG
100
4,188
Total
Austria
(Cost
$985,731)
1,695,234
Shares
Value
($)
Portugal
0.7%
Common
Stocks
Consumer
Staples
Distribution
&
Retail
0.7%
Jeronimo
Martins
SGPS
SA
(Cost
$665,930)
30,000
524,326
Kazakhstan
0.3%
Common
Stocks
Metals
&
Mining
0.3%
Solidcore
Resources
PLC
(Cost
$1,244,170)*
75,000
196,500
France
0.0%
Common
Stocks
Oil,
Gas
&
Consumable
Fuels
0.0%
TotalEnergies
SE
(Cost
$4,732)
100
6,762
Securities
Lending
Collateral
1.2%
DWS
Government
&
Agency
Securities
Portfolio
''DWS
Government
Cash
Institutional
Shares'',
5.24%
(Cost
$833,837)
(b)
(c)
833,837
833,837
Cash
Equivalents
1.9%
DWS
Central
Cash
Management
Government
Fund,
5.37%
(Cost
$1,381,336)
(c)
1,381,336
1,381,336
%
of
Net
Assets
Value
($)
Total
Investment
Portfolio
(Cost
$107,865,538)
100.5
71,224,861
Other
Assets
and
Liabilities,
Net
(0.5)
(366,953)
Net
Assets
100.0
70,857,908
For
information
on
the
Fund’s
policies
regarding
the
valuation
of
investments
and
other
significant
accounting
policies,
please
refer
to
the
Fund’s
most
recent
semi-annual
or
annual
financial
statements.
A
summary
of
the
Fund’s
transactions
with
affiliated
investments
during
the
period
ended
July
31,
2024
are
as
follows:
Net
Change
Value
($)
at
10/31/2023
Purchases
Cost
($)
Sales
Proceeds
($)
Net
Real-
ized
Gain/
(Loss)
($)
in
Unreal-
ized
Appreci-
ation/
(Depreci-
ation)
($)
Income
($)
Capital
Gain
Distri-
butions
($)
Number
of
Shares
at
7/31/2024
Value
($)
at
7/31/2024
Securities
Lending
Collateral
1.2%
DWS
Government
&
Agency
Securities
Portfolio
''DWS
Government
Cash
Institutional
Shares'',
5.24%
(b)
(c)
1,788,397
–
954,560(d)
–
–
15,836
–
833,837
833,837
Cash
Equivalents
1.9%
DWS
Central
Cash
Management
Government
Fund,
5.37%
(c)
2,025,993
11,023,045
11,667,702
–
–
53,456
–
1,381,336
1,381,336
3,814,390
11,023,045
12,622,262
–
–
69,292
–
2,215,173
2,215,173
*
Non-income
producing
security.
**
Non-income
producing
security;
due
to
applicable
sanctions,
dividend
income
was
not
recorded.
†
All
or
a
portion
of
these
securities
were
on
loan.
The
value
of
all
securities
loaned
at
July
31,
2024
amounted
to
$677,351,
which
is
1.0%
of
net
assets.
(a)
Investment
was
valued
using
significant
unobservable
inputs.
(b)
Represents
cash
collateral
held
in
connection
with
securities
lending.
Income
earned
by
the
Fund
is
net
of
borrower
rebates.
(c)
Affiliated
fund
managed
by
DWS
Investment
Management
Americas,
Inc.
The
rate
shown
is
the
annualized
seven-day
yield
at
period
end.
(d)
Represents
the
net
increase
(purchases
cost)
or
decrease
(sales
proceeds)
in
the
amount
invested
in
cash
collateral
for
the
period
ended
July
31,
2024.
144A:
Securities
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
ADR:
American
Depositary
Receipt
GDR:
Global
Depositary
Receipt
PJSC:
Public
Joint
Stock
Company
For
purposes
of
its
industry
concentration
policy,
the
Fund
classifies
issuers
of
portfolio
securities
at
the
industry
sub-
group
level.
Certain
of
the
categories
in
the
above
Schedule
of
Investments
consist
of
multiple
industry
sub-groups
or
industries.
The
United
States,
the
European
Union,
the
United
Kingdom
and
other
countries
have
imposed
sanctions
on
Russia,
Russian
companies,
and
Russian
individuals
in
response
to
actions
taken
by
Russia
in
recent
years,
including
its
February
2022
invasion
of
Ukraine
and
subsequent
activities.
In
turn
Russia
has
imposed
sanctions
on
Western
individuals,
businesses
and
products,
and
the
Russian
central
bank
has
taken
actions
that
have
effectively
frozen
investments
by
Western
entities,
including
the
Fund,
in
Russian
companies.
These
s
anctions
have
adversely
affected
not
only
the
Russian
economy
but
also
the
economies
of
many
countries
in
Europe,
including
countries
in
Central
and
Eastern
Europe,
and
the
continuation
of
sanctions,
or
the
imposition
of
new
sanctions,
may
have
further
adverse
effects
on
the
Russian
and
European
economies.
As
a
result
of
Russia’s
invasion
of
Ukraine
and
the
resulting
dislocations,
Wes
tern
sanctions
and
Russia’s
retaliatory
measures,
the
value
and
liquidity
of
the
Fund’s
portfolio
assets
have
been
severely
adversely
affected,
and
its
Russian
investments
(some
of
which
are
in
companies
that
are
subject
to
sanctions)
have
been
fair
valued
at
zero
since
March
14,
2022
.
It
is
not
known
if
the
situation
will
improve
,
although
the
Fund
has
observed
occasional
privately
negotiated
transactions
in
depositary
receipts
of
non-sanctioned
Russian
issuers
taking
place
(at
prices
that
are
deeply
discounted
from
those
taking
place
through
the
facilities
of
the
Moscow
Stock
Exchange).
In
May
2024,
the
Fund
was
successful
in
selling
depositary
receipts
of
one
non-sanctioned
Russian
issuer
in
such
a
privately
negotiated
transaction
resulting
in
positive
impact
to
the
Fund's
net
asset
value.
War,
terrorism,
sanctions,
economic
uncertainty,
trade
disputes,
public
health
crises,
natural
disasters,
climate
change
and
related
geopolitical
events
have
led
and,
in
the
future,
may
lead
to
significant
disruptions
in
U.S.
and
world
economies
and
markets,
which
may
lead
to
increased
market
volatility
and
may
have
significant
adverse
effects
on
the
Fund
and
its
investments.
In
the
case
of
the
Fund,
Russia’s
invasion
of
Ukraine
has
materially
adversely
affected,
and
may
continue
to
materially
adversely
affect,
the
value
and
liquidity
of
the
Fund’s
portfolio.
Fair
Value
Measurements
Various
inputs
are
used
in
determining
the
value
of
the
Fund’s
investments.
These
inputs
are
summarized
in
three
broad
levels.
Level
1
includes
quoted
prices
in
active
markets
for
identical
securities.
Level
2
includes
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
prepayment
speeds
and
credit
risk).
Level
3
includes
significant
unobservable
inputs
(including
the
Fund’s
own
assumptions
in
determining
the
fair
value
of
investments).
The
level
assigned
to
the
securities
valuations
may
not
be
an
indication
of
the
risk
associated
with
investing
in
those
securities.
The
following
is
a
summary
of
the
inputs
used
as
of
July
31,
2024
in
valuing
the
Fund’s
investments.
(e)
See
Schedule
of
Investments
for
additional
detailed
categorizations
.
During
the
period
ended
July
31,
2024,
the
amount
of
transfers
between
Level
3
and
Level
1
was
$210,938.
The
investments
were
transferred
from
Level
3
to
Level
1
due
to
increase
in
market
activity.
Transfers
between
price
levels
are
recognized
at
the
beginning
of
the
reporting
period.
OBTAIN
AN
OPEN-END
FUND
PROSPECTUS
To
obtain
a
summary
prospectus,
if
available,
or
prospectus,
download
one
from
fundsus.dws.com,
talk
to
your
financial
representative
or
call
(800)
728-3337.
We
advise
you
to
carefully
consider
the
product's
objectives,
risks,
charges
and
expenses
before
investing.
The
summary
prospectus
and
prospectus
contain
this
and
other
important
information
about
the
investment
product.
Please
read
the
prospectus
carefully
before
you
invest.
CLOSED-END
FUNDS
The
shares
of
most
closed-end
funds,
including
the
Fund,
are
not
continuously
offered.
Once
issued,
shares
of
closed-end
funds
are
bought
and
sold
in
the
open
market.
Shares
of
closed-end
funds
frequently
trade
at
a
discount
to
net
asset
value.
The
price
of
the
fund’s
shares
is
determined
by
a
number
of
factors,
several
of
which
are
beyond
the
control
of
the
fund.
Therefore,
the
fund
cannot
predict
whether
its
shares
will
trade
at,
below
or
above
net
asset
value.
The
brand
DWS
represents
DWS
Group
GmbH
&
Co.
KGaA
and
any
of
its
subsidiaries
such
as
DWS
Distributors,
Inc.,
which
offers
investment
products,
or
DWS
Investment
Management
Americas
Inc.
and
RREEF
America
L.L.C.,
which
offer
advisory
services.
NO
BANK
GUARANTEE
|
NOT
FDIC
INSURED
|
MAY
LOSE
VALUE
CEE-PH3
R-080548-2
(1/25)
Assets
Level
1
Level
2
Level
3
Total
Common
Stocks
(e)
Poland
$
43,769,164
$
—
$
—
$
43,769,164
Hungary
12,780,691
—
—
12,780,691
Russia
—
—
4,863,945
4,863,945
Czech
Republic
2,769,189
—
—
2,769,189
Moldova
2,403,877
—
—
2,403,877
Austria
1,695,234
—
—
1,695,234
Portugal
524,326
—
—
524,326
Kazakhstan
196,500
—
—
196,500
France
6,762
—
—
6,762
Short-Term
Instruments
(e)
2,215,173
—
—
2,215,173
Total
$
66,360,916
$
—
$
4,863,945
$
71,224,861
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Central and Eastern Europe (NYSE:CEE)
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부터 11월(11) 2023 으로 11월(11) 2024 Central and Eastern Europe 차트를 더 보려면 여기를 클릭.