# EDGAR Filing Document

**Accession Number:** 0000810573
**File Stem:** 0001752724-23-047667
**Filing Date:** 2023-2
**Character Count:** 48711
**Document Hash:** 8ae73e76acdfc621391fe840ffed9e19
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-047667.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-047667

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEUTSCHE DWS VARIABLE SERIES II
- **CENTRAL INDEX KEY:** 0000810573
- **IRS NUMBER:** 810105002
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05002
- **FILM NUMBER:** 23685723

**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:** DEUTSCHE VARIABLE SERIES II
- **DATE OF NAME CHANGE:** 20140811

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DWS VARIABLE SERIES II
- **DATE OF NAME CHANGE:** 20060303

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SCUDDER VARIABLE SERIES II
- **DATE OF NAME CHANGE:** 20010501

## Series and Classes Contracts Data

### DWS Small Mid Cap Value VIP (Series ID: S000006269)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017231 | Class A      |  |
| C000017232 | Class B      |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** DEUTSCHE DWS VARIABLE SERIES II

- **b. Investment Company Act file number:** 811-05002

- **c. CIK number of Registrant:** 0000810573

- **d. LEI of Registrant:** 7WRERVUOG2HKG87QIP75

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 875 Third Avenue

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10022-6225

  - **Telephone number:** 212-454-4500

**Item A.2. Information about the Series.**

- **a. Name of Series:** DWS Small Mid Cap Value VIP

- **b. EDGAR series identifier (if any):** S000006269

- **c. LEI of Series:** 8HN4E3XMYOF3YJY3GN33

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $81987877.61

**Total Liabilities:** $2708348.25

**Net Assets:** $79279529.36

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017231 | 10.74%               | 3.57%                | -4.64%               |
| Class ID C000017232 | 10.74%               | 3.49%                | -4.65%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-799958.50              | $8844518.05                                |
| Month 2  | $575751.15               | $2200179.65                                |
| Month 3  | $-539095.46              | $-3583768.52                               |

### Schedule of Portfolio Investments

| Name                                       | Title                                                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Nexstar Media Group Inc                    | Nexstar Media Group Inc                                                               | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      1224 | NS      | $214236.72    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| First BanCorp/Puerto Rico                  | First BanCorp/Puerto Rico                                                             | CUSIP: 318672706<br>LEI: N/A                  | Long             | EC               | CORP              | PR        |     26138 | NS      | $332475.36    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc                               | Assurant Inc                                                                          | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |      9089 | NS      | $1136670.34   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| PDC Energy Inc                             | PDC Energy Inc                                                                        | CUSIP: 69327R101<br>LEI: 5493008W8H2T511J5Y59 | Long             | EC               | CORP              | US        |      7559 | NS      | $479845.32    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Simmons First National Corp                | Simmons First National Corp                                                           | CUSIP: 828730200<br>LEI: 549300IVR5AJKUVOGN05 | Long             | EC               | CORP              | US        |     30569 | NS      | $659679.02    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastern Bankshares Inc                     | Eastern Bankshares Inc                                                                | CUSIP: 27627N105<br>LEI: 549300J245MBQU3DO403 | Long             | EC               | CORP              | US        |     19265 | NS      | $332321.25    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                               | Evercore Inc                                                                          | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |      3114 | NS      | $339675.12    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia Inc                                  | Adeia Inc                                                                             | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33819 | NS      | $320604.12    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                                    | EnerSys                                                                               | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     19390 | NS      | $1431757.60   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc                   | Highwoods Properties Inc                                                              | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               |  | US        |     27146 | NS      | $759545.08    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| NexTier Oilfield Solutions Inc             | NexTier Oilfield Solutions Inc                                                        | CUSIP: 65290C105<br>LEI: 529900L27H2D4QT0IT24 | Long             | EC               | CORP              | US        |     52206 | NS      | $482383.44    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corp                                | Avient Corp                                                                           | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |      7871 | NS      | $265724.96    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| PerkinElmer Inc                            | PerkinElmer Inc                                                                       | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |      6269 | NS      | $879039.18    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ManpowerGroup Inc                          | ManpowerGroup Inc                                                                     | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |      3398 | NS      | $282747.58    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| TravelCenters of America Inc               | TravelCenters of America Inc                                                          | CUSIP: 89421B109<br>LEI: 529900FQY3V2OO9M4Z65 | Long             | EC               | CORP              | US        |     11339 | NS      | $507760.42    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO Inc                                    | RXO Inc                                                                               | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |     18131 | NS      | $311853.20    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Xperi Inc                                  | Xperi Inc                                                                             | CUSIP: 98423J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13527 | NS      | $116467.47    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Myriad Genetics Inc                        | Myriad Genetics Inc                                                                   | CUSIP: 62855J104<br>LEI: 52990044IHUOUMETT163 | Long             | EC               | CORP              | US        |     28066 | NS      | $407237.66    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Vivint Smart Home Inc                      | Vivint Smart Home Inc                                                                 | CUSIP: 928542109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    169008 | NS      | $2011195.20   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Multiplan Corp                             | Multiplan Corp                                                                        | CUSIP: 62548M100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     71151 | NS      | $81823.65     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Re Group Ltd                       | Everest Re Group Ltd                                                                  | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      3840 | NS      | $1272076.80   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc                | Columbia Banking System Inc                                                           | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13657 | NS      | $411485.41    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                        | DWS Government & Agency Securities Portfolio DWS Government Cash Institutional Shares | CUSIP: 147539670<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2566790 | NS      | $2566790.40   | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                              | Owens Corning                                                                         | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |      6801 | NS      | $580125.30    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Sage Therapeutics Inc                      | Sage Therapeutics Inc                                                                 | CUSIP: 78667J108<br>LEI: 5493000JX4BJS9W6CN35 | Long             | EC               | CORP              | US        |     20690 | NS      | $789116.60    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp                       | Associated Banc-Corp                                                                  | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |     50702 | NS      | $1170709.18   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic Inc                           | Cirrus Logic Inc                                                                      | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     11969 | NS      | $891451.12    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| B&G Foods Inc                              | B&G Foods Inc                                                                         | CUSIP: 05508R106<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | EC               | CORP              | US        |     33158 | NS      | $369711.70    | 0.47%             |  |  |  | No            |                  1 | On Loan: —       |
| First Horizon Corp                         | First Horizon Corp                                                                    | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |     29685 | NS      | $727282.50    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                             | TD SYNNEX Corp                                                                        | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |      3829 | NS      | $362644.59    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Winnebago Industries Inc                   | Winnebago Industries Inc                                                              | CUSIP: 974637100<br>LEI: 549300B7OYKYJLTE3G11 | Long             | EC               | CORP              | US        |      6930 | NS      | $365211.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                                  | Lear Corp                                                                             | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |      8664 | NS      | $1074509.28   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Telephone and Data Systems Inc             | Telephone and Data Systems Inc                                                        | CUSIP: 879433829<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20294 | NS      | $212884.06    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co               | Graphic Packaging Holding Co                                                          | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33885 | NS      | $753941.25    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Sports Corp          | Madison Square Garden Sports Corp                                                     | CUSIP: 55825T103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1859 | NS      | $340810.47    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| AvidXchange Holdings Inc                   | AvidXchange Holdings Inc                                                              | CUSIP: 05368X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     71323 | NS      | $708950.62    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BRT Apartments Corp                        | BRT Apartments Corp                                                                   | CUSIP: 055645303<br>LEI: N/A                  | Long             | EC               |  | US        |     38543 | NS      | $756984.52    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                               | Prologis Inc                                                                          | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |      7624 | NS      | $859453.52    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Porch Group Inc                            | Porch Group Inc                                                                       | CUSIP: 733245104<br>LEI: 549300NXEI7CVW8IXQ90 | Long             | EC               | CORP              | US        |    191004 | NS      | $359087.52    | 0.45%             |  |  |  | No            |                  1 | On Loan: —       |
| GXO Logistics Inc                          | GXO Logistics Inc                                                                     | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |      5515 | NS      | $235435.35    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Amyris Inc                                 | Amyris Inc                                                                            | CUSIP: 03236M200<br>LEI: 549300BG17WCUK6EIM58 | Long             | EC               | CORP              | US        |    165272 | NS      | $252866.16    | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Gaming and Leisure Properties Inc          | Gaming and Leisure Properties Inc                                                     | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               |  | US        |     32113 | NS      | $1672766.17   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Kennedy-Wilson Holdings Inc                | Kennedy-Wilson Holdings Inc                                                           | CUSIP: 489398107<br>LEI: 549300MOI1T78144X610 | Long             | EC               | CORP              | US        |     28877 | NS      | $454235.21    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemours Co/The                            | Chemours Co/The                                                                       | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |     20651 | NS      | $632333.62    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| iStar Inc                                  | iStar Inc                                                                             | CUSIP: 45031U101<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               |  | US        |     54698 | NS      | $417345.74    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc                    | Darling Ingredients Inc                                                               | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     10608 | NS      | $663954.72    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp                       | Targa Resources Corp                                                                  | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      9153 | NS      | $672745.50    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp                         | UMB Financial Corp                                                                    | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |     14217 | NS      | $1187403.84   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries Inc          | Huntington Ingalls Industries Inc                                                     | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |      2537 | NS      | $585235.16    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc                             | BankUnited Inc                                                                        | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |     35094 | NS      | $1192143.18   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Twist Bioscience Corp                      | Twist Bioscience Corp                                                                 | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |     22683 | NS      | $540082.23    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Sana Biotechnology Inc                     | Sana Biotechnology Inc                                                                | CUSIP: 799566104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76915 | NS      | $303814.25    | 0.38%             |  |  |  | No            |                  1 | On Loan: —       |
| NOW Inc                                    | NOW Inc                                                                               | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |     92675 | NS      | $1176972.50   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntsman Corp                              | Huntsman Corp                                                                         | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |     12248 | NS      | $336575.04    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Capital Corp                         | Rithm Capital Corp                                                                    | CUSIP: 64828T201<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EC               |  | US        |     74134 | NS      | $605674.78    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Verint Systems Inc                         | Verint Systems Inc                                                                    | CUSIP: 92343X100<br>LEI: 549300KEQJS5FRVUCO94 | Long             | EC               | CORP              | US        |     26229 | NS      | $951588.12    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilltop Holdings Inc                       | Hilltop Holdings Inc                                                                  | CUSIP: 432748101<br>LEI: 54930010TA543US0PM65 | Long             | EC               | CORP              | US        |     25784 | NS      | $773777.84    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc                         | Steel Dynamics Inc                                                                    | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     25274 | NS      | $2469269.80   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Manitowoc Co Inc/The                       | Manitowoc Co Inc/The                                                                  | CUSIP: 563571405<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | EC               | CORP              | US        |     42427 | NS      | $388631.32    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc                           | Carlisle Cos Inc                                                                      | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |      6936 | NS      | $1634468.40   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Reata Pharmaceuticals Inc                  | Reata Pharmaceuticals Inc                                                             | CUSIP: 75615P103<br>LEI: 5299005F094GH9QDDD80 | Long             | EC               | CORP              | US        |     11894 | NS      | $451853.06    | 0.57%             |  |  |  | No            |                  1 | On Loan: —       |
| Northwest Natural Holding Co               | Northwest Natural Holding Co                                                          | CUSIP: 66765N105<br>LEI: 254900PSJL6ZEC8FR782 | Long             | EC               | CORP              | US        |      9452 | NS      | $449820.68    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Bancorp Inc                          | Eagle Bancorp Inc                                                                     | CUSIP: 268948106<br>LEI: 549300B47NZODRMG3D47 | Long             | EC               | CORP              | US        |     21907 | NS      | $965441.49    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Holdings Inc   | Knight-Swift Transportation Holdings Inc                                              | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10885 | NS      | $570482.85    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                          | Iron Mountain Inc                                                                     | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               |  | US        |      8026 | NS      | $400096.10    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Garden & Pet Co                    | Central Garden & Pet Co                                                               | CUSIP: 153527106<br>LEI: 5493004DVZLD37DJ0H83 | Long             | EC               | CORP              | US        |      7995 | NS      | $299412.75    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Solutions Inc                       | Jacobs Solutions Inc                                                                  | CUSIP: 46982L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10424 | NS      | $1251609.68   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| International Game Technology PLC          | International Game Technology PLC                                                     | CUSIP: 000000000<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | EC               | CORP              | GB        |     19871 | NS      | $450674.28    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management Inc               | Apollo Global Management Inc                                                          | CUSIP: 03769M106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5624 | NS      | $358754.96    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand Inc                            | Hillenbrand Inc                                                                       | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |     51641 | NS      | $2203521.47   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Latin America Ltd                  | Liberty Latin America Ltd                                                             | CUSIP: 000000000<br>LEI: 213800YWQHEAX7CAVO83 | Long             | EC               | CORP              | BM        |     83215 | NS      | $626608.95    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods Inc                        | Cal-Maine Foods Inc                                                                   | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |      6988 | NS      | $380496.60    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SITE Centers Corp                          | SITE Centers Corp                                                                     | CUSIP: 82981J109<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               |  | US        |     38592 | NS      | $527166.72    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corp                                 | Ciena Corp                                                                            | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |      7945 | NS      | $405036.10    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                             | Photronics Inc                                                                        | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     26946 | NS      | $453501.18    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Foot Locker Inc                            | Foot Locker Inc                                                                       | CUSIP: 344849104<br>LEI: 549300X383CBNP6MTV94 | Long             | EC               | CORP              | US        |     10718 | NS      | $405033.22    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp                           | HF Sinclair Corp                                                                      | CUSIP: 403949100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12253 | NS      | $635808.17    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cue Health Inc                             | Cue Health Inc                                                                        | CUSIP: 229790100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     81996 | NS      | $169731.72    | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Atlas Air Worldwide Holdings Inc           | Atlas Air Worldwide Holdings Inc                                                      | CUSIP: 049164205<br>LEI: 549300R0A2TUVCYZB465 | Long             | EC               | CORP              | US        |      3480 | NS      | $350784.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Avnet Inc                                  | Avnet Inc                                                                             | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |     33437 | NS      | $1390310.46   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                                | Chemed Corp                                                                           | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      1231 | NS      | $628339.33    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare Inc                      | Molina Healthcare Inc                                                                 | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |      2804 | NS      | $925936.88    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Voya Financial Inc                         | Voya Financial Inc                                                                    | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     15823 | NS      | $972956.27    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Sportswear Co                     | Columbia Sportswear Co                                                                | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |     16694 | NS      | $1462060.52   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                          | Brown & Brown Inc                                                                     | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |     23705 | NS      | $1350473.85   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Ichor Holdings Ltd                         | Ichor Holdings Ltd                                                                    | CUSIP: 000000000<br>LEI: 529900PS8R2JVLJ2H892 | Long             | EC               | CORP              | KY        |      8469 | NS      | $227138.58    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corp                       | Hancock Whitney Corp                                                                  | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     23244 | NS      | $1124777.16   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Nutrition Ltd                    | Herbalife Nutrition Ltd                                                               | CUSIP: 000000000<br>LEI: 549300BA7TYPBSZZIA41 | Long             | EC               | CORP              | KY        |     13836 | NS      | $205879.68    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleveland-Cliffs Inc                       | Cleveland-Cliffs Inc                                                                  | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |     22180 | NS      | $357319.80    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp                          | Devon Energy Corp                                                                     | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     19310 | NS      | $1187758.10   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Beazer Homes USA Inc                       | Beazer Homes USA Inc                                                                  | CUSIP: 07556Q881<br>LEI: 549300DUPYT2T0F60I45 | Long             | EC               | CORP              | US        |     25089 | NS      | $320135.64    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron Inc                                  | Itron Inc                                                                             | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |      9376 | NS      | $474894.40    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens & Minor Inc                          | Owens & Minor Inc                                                                     | CUSIP: 690732102<br>LEI: 549300LMT5KQQXCEZ733 | Long             | EC               | CORP              | US        |     10228 | NS      | $199752.84    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Science Applications International Corp    | Science Applications International Corp                                               | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               | CORP              | US        |      6673 | NS      | $740235.89    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinetik Holdings Inc                       | Kinetik Holdings Inc                                                                  | CUSIP: 02215L209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7128 | NS      | $235794.24    | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| PulteGroup Inc                             | PulteGroup Inc                                                                        | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29095 | NS      | $1324695.35   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR Corp                                   | NCR Corp                                                                              | CUSIP: 62886E108<br>LEI: 549300YKTY8JX1DV2R67 | Long             | EC               | CORP              | US        |     12880 | NS      | $301520.80    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| RH                                         | RH                                                                                    | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |      1451 | NS      | $387692.69    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulton Financial Corp                      | Fulton Financial Corp                                                                 | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |     21539 | NS      | $362501.37    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Acceptance Corp                     | Credit Acceptance Corp                                                                | CUSIP: 225310101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1410 | NS      | $668904.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: —       |
| IDACORP Inc                                | IDACORP Inc                                                                           | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     15434 | NS      | $1664556.90   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                       | LXP Industrial Trust                                                                  | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               |  | US        |    155012 | NS      | $1553220.24   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Energy Inc                          | Vertex Energy Inc                                                                     | CUSIP: 92534K107<br>LEI: 549300TTMSREGCR7D585 | Long             | EC               | CORP              | US        |     30725 | NS      | $190495.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| UGI Corp                                   | UGI Corp                                                                              | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     20014 | NS      | $741918.98    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO Inc                                    | XPO Inc                                                                               | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |      5515 | NS      | $183594.35    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU Medical Inc                            | ICU Medical Inc                                                                       | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |      1845 | NS      | $290550.60    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Corp/IN                    | First Financial Corp/IN                                                               | CUSIP: 320218100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6410 | NS      | $295372.80    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc                        | STAG Industrial Inc                                                                   | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               |  | US        |     52479 | NS      | $1695596.49   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Nabors Industries Ltd                      | Nabors Industries Ltd                                                                 | CUSIP: 000000000<br>LEI: 5493008TXYN3II3PU369 | Long             | EC               | CORP              | BM        |      2550 | NS      | $394918.50    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Interpublic Group of Cos Inc/The           | Interpublic Group of Cos Inc/The                                                      | CUSIP: 460690100<br>LEI: 5493008IUOJ5VWTRC333 | Long             | EC               | CORP              | US        |     39760 | NS      | $1324405.60   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| EQRx Inc                                   | EQRx Inc                                                                              | CUSIP: 26886C107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76345 | NS      | $187808.70    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Performance Food Group Co                  | Performance Food Group Co                                                             | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      6533 | NS      | $381461.87    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| American Axle & Manufacturing Holdings Inc | American Axle & Manufacturing Holdings Inc                                            | CUSIP: 024061103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43873 | NS      | $343086.86    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| A-Mark Precious Metals Inc                 | A-Mark Precious Metals Inc                                                            | CUSIP: 00181T107<br>LEI: XP6XYFDZQGKLUMOFGT37 | Long             | EC               | CORP              | US        |     11136 | NS      | $386753.28    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| WW International Inc                       | WW International Inc                                                                  | CUSIP: 98262P101<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | EC               | CORP              | US        |     57688 | NS      | $222675.68    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MRC Global Inc                             | MRC Global Inc                                                                        | CUSIP: 55345K103<br>LEI: 529900TSBPOLCLI2L582 | Long             | EC               | CORP              | US        |     47506 | NS      | $550119.48    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Mohawk Industries Inc                      | Mohawk Industries Inc                                                                 | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |      5001 | NS      | $511202.22    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Otter Tail Corp                            | Otter Tail Corp                                                                       | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12371 | NS      | $726301.41    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Wire Corp                           | Encore Wire Corp                                                                      | CUSIP: 292562105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6753 | NS      | $928942.68    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-27

**Name of Applicant:** DEUTSCHE DWS VARIABLE SERIES II

**Signature:** Diane Kenneally

**Name of Signer:** Diane Kenneally

**Title:** Treasurer and Chief Financial Officer