# EDGAR Filing Document

**Accession Number:** 0000810573
**File Stem:** 0001410368-26-055439
**Filing Date:** 2026-5
**Character Count:** 65274
**Document Hash:** 50a5d68bb2192b6de0650295a396f072
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-055439.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001410368-26-055439

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEUTSCHE DWS VARIABLE SERIES II
- **CENTRAL INDEX KEY:** 0000810573

**ORGANIZATION NAME:**
- **EIN:** 810105002
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05002
- **FILM NUMBER:** 261034476

**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 Growth VIP (Series ID: S000006260)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017214 | Class A      |  |

## Nport-Ex

Investment Portfolio**as of March 31, 2026 (Unaudited)** 

**DWS Small Mid Cap Growth VIP** 

---

| | | |
|:---|:---|:---|
|  | **Shares**  | **Value ($)** |
| **Common Stocks 98.0%** | **Common Stocks 98.0%** |  |
| **Communication Services 0.9%** | **Communication Services 0.9%** |  |
| **Entertainment 0.9%** | **Entertainment 0.9%** |  |
| Take-Two Interactive Software, Inc.\* | 2174 | &nbsp;&nbsp; **429365** |
| **Consumer Discretionary 9.0%** | **Consumer Discretionary 9.0%** |  |
| **Automobile Components 0.4%** | **Automobile Components 0.4%** |  |
| Gentherm, Inc.\* | 7364 | &nbsp;&nbsp; **204572** |
| **Diversified Consumer Services 0.6%** | **Diversified Consumer Services 0.6%** |  |
| Bright Horizons Family Solutions, Inc.\* | 3398 | &nbsp;&nbsp; **279078** |
| **Hotels, Restaurants & Leisure 1.6%** | **Hotels, Restaurants & Leisure 1.6%** |  |
| Hilton Grand Vacations, Inc.\*  | 12491 | &nbsp;&nbsp; 488648 |
| Wingstop, Inc.  | 1500 | &nbsp;&nbsp; 232455 |
|  |  | &nbsp;&nbsp; **721103** |
| **Household Durables 2.4%** | **Household Durables 2.4%** |  |
| Helen of Troy Ltd.\*  | 1963 | &nbsp;&nbsp; 28306 |
| LGI Homes, Inc.\*  | 3089 | &nbsp;&nbsp; 122108 |
| TopBuild Corp.\*  | 2673 | &nbsp;&nbsp; 939025 |
|  |  | &nbsp;&nbsp; **1089439** |
| **Leisure Products 1.2%** | **Leisure Products 1.2%** |  |
| YETI Holdings, Inc.\* | 15522 | &nbsp;&nbsp; **567950** |
| **Specialty Retail 2.8%** | **Specialty Retail 2.8%** |  |
| Burlington Stores, Inc.\*  | 2883 | &nbsp;&nbsp; 938071 |
| Valvoline, Inc.\* (a) | 9900 | &nbsp;&nbsp; 333432 |
|  |  | &nbsp;&nbsp; **1271503** |
| **Consumer Staples 2.8%** | **Consumer Staples 2.8%** |  |
| **Consumer Staples Distribution & Retail 2.5%** | **Consumer Staples Distribution & Retail 2.5%** |  |
| Casey's General Stores, Inc. | 1571 | &nbsp;&nbsp; **1143468** |
| **Food Products 0.3%** | **Food Products 0.3%** |  |
| Marzetti Co. | 1200 | &nbsp;&nbsp; **165996** |
| **Energy 3.0%** | **Energy 3.0%** |  |
| **Oil, Gas & Consumable Fuels 3.0%** | **Oil, Gas & Consumable Fuels 3.0%** |  |
| Core Natural Resources, Inc.  | 2519 | &nbsp;&nbsp; 263815 |
| Crescent Energy Co. "A"  | 6384 | &nbsp;&nbsp; 86184 |
| Expand Energy Corp.  | 2543 | &nbsp;&nbsp; 279170 |
| Matador Resources Co.  | 5100 | &nbsp;&nbsp; 322218 |
| Ovintiv, Inc.  | 7311 | &nbsp;&nbsp; 433981 |
|  |  | &nbsp;&nbsp; **1385368** |

---

------

---

| | | |
|:---|:---|:---|
| **Financials 9.7%** | **Financials 9.7%** |  |
| **Banks 2.9%** | **Banks 2.9%** |  |
| Pinnacle Financial Partners, Inc.  | 11962 | &nbsp;&nbsp; 1030407 |
| The Bancorp, Inc.\*  | 5495 | &nbsp;&nbsp; 295246 |
|  |  | &nbsp;&nbsp; **1325653** |
| **Capital Markets 4.1%** | **Capital Markets 4.1%** |  |
| FactSet Research Systems, Inc.  | 1036 | &nbsp;&nbsp; 224802 |
| Lazard, Inc.  | 12317 | &nbsp;&nbsp; 523226 |
| LPL Financial Holdings, Inc.  | 2100 | &nbsp;&nbsp; 631743 |
| Moelis & Co. "A"  | 9136 | &nbsp;&nbsp; 520752 |
|  |  | &nbsp;&nbsp; **1900523** |
| **Financial Services 0.9%** | **Financial Services 0.9%** |  |
| WEX, Inc.\* | 2797 | &nbsp;&nbsp; **428053** |
| **Insurance 1.8%** | **Insurance 1.8%** |  |
| Kinsale Capital Group, Inc.  | 1900 | &nbsp;&nbsp; 649154 |
| Palomar Holdings, Inc.\*  | 1300 | &nbsp;&nbsp; 155350 |
|  |  | &nbsp;&nbsp; **804504** |
| **Health Care 22.0%** | **Health Care 22.0%** |  |
| **Biotechnology 12.1%** | **Biotechnology 12.1%** |  |
| Apellis Pharmaceuticals, Inc.\*  | 3951 | &nbsp;&nbsp; 158949 |
| BridgeBio Pharma, Inc.\*  | 2300 | &nbsp;&nbsp; 170798 |
| Caris Life Sciences, Inc.\*  | 5928 | &nbsp;&nbsp; 105993 |
| Catalyst Pharmaceuticals, Inc.\*  | 7600 | &nbsp;&nbsp; 188176 |
| Celldex Therapeutics, Inc.\*  | 12600 | &nbsp;&nbsp; 399672 |
| CG oncology, Inc.\*  | 4100 | &nbsp;&nbsp; 277488 |
| Halozyme Therapeutics, Inc.\*  | 2800 | &nbsp;&nbsp; 180964 |
| Insmed, Inc.\*  | 5344 | &nbsp;&nbsp; 873851 |
| Kiniksa Pharmaceuticals International PLC\*  | 8769 | &nbsp;&nbsp; 422227 |
| Madrigal Pharmaceuticals, Inc.\*  | 500 | &nbsp;&nbsp; 261735 |
| Neurocrine Biosciences, Inc.\*  | 7085 | &nbsp;&nbsp; 933378 |
| Protagonist Therapeutics, Inc.\*  | 2800 | &nbsp;&nbsp; 295120 |
| Rhythm Pharmaceuticals, Inc.\*  | 1700 | &nbsp;&nbsp; 147849 |
| Scholar Rock Holding Corp.\*  | 4300 | &nbsp;&nbsp; 211388 |
| Travere Therapeutics, Inc.\*  | 14578 | &nbsp;&nbsp; 433112 |
| Vaxcyte, Inc.\*  | 3300 | &nbsp;&nbsp; 191763 |
| Vera Therapeutics, Inc.\*  | 7600 | &nbsp;&nbsp; 305748 |
|  |  | &nbsp;&nbsp; **5558211** |
| **Health Care Equipment & Supplies 2.2%** | **Health Care Equipment & Supplies 2.2%** |  |
| Alphatec Holdings, Inc.\*  | 9320 | &nbsp;&nbsp; 101401 |
| Axogen, Inc.\*  | 5400 | &nbsp;&nbsp; 178902 |
| Globus Medical, Inc. "A"\*  | 1424 | &nbsp;&nbsp; 122692 |
| Haemonetics Corp.\*  | 1353 | &nbsp;&nbsp; 76255 |
| Lantheus Holdings, Inc.\*  | 3500 | &nbsp;&nbsp; 265475 |
| Merit Medical Systems, Inc.\*  | 4200 | &nbsp;&nbsp; 289506 |
|  |  | &nbsp;&nbsp; **1034231** |
| **Health Care Providers & Services 5.6%** | **Health Care Providers & Services 5.6%** |  |
| HealthEquity, Inc.\*  | 4529 | &nbsp;&nbsp; 378489 |
| Molina Healthcare, Inc.\*  | 2319 | &nbsp;&nbsp; 309123 |
| Option Care Health, Inc.\*  | 18864 | &nbsp;&nbsp; 507819 |
| Privia Health Group, Inc.\*  | 8600 | &nbsp;&nbsp; 176902 |
| RadNet, Inc.\*  | 21477 | &nbsp;&nbsp; 1200349 |
|  |  | &nbsp;&nbsp; **2572682** |

---

------

---

| | | |
|:---|:---|:---|
| **Health Care Technology 0.4%** | **Health Care Technology 0.4%** |  |
| Waystar Holding Corp.\* | 6800 | &nbsp;&nbsp; **163948** |
| **Pharmaceuticals 1.7%** | **Pharmaceuticals 1.7%** |  |
| Crinetics Pharmaceuticals, Inc.\*  | 4600 | &nbsp;&nbsp; 167072 |
| EyePoint, Inc.\*  | 5600 | &nbsp;&nbsp; 72184 |
| Ligand Pharmaceuticals, Inc.\*  | 2672 | &nbsp;&nbsp; 533465 |
|  |  | &nbsp;&nbsp; **772721** |
| **Industrials 22.3%** | **Industrials 22.3%** |  |
| **Aerospace & Defense 3.3%** | **Aerospace & Defense 3.3%** |  |
| FTAI Aviation Ltd.  | 2500 | &nbsp;&nbsp; 612500 |
| HEICO Corp.  | 2576 | &nbsp;&nbsp; 706339 |
| Kratos Defense & Security Solutions, Inc.\*  | 2500 | &nbsp;&nbsp; 176275 |
|  |  | &nbsp;&nbsp; **1495114** |
| **Building Products 3.4%** | **Building Products 3.4%** |  |
| Allegion PLC  | 5799 | &nbsp;&nbsp; 842537 |
| Builders FirstSource, Inc.\*  | 8706 | &nbsp;&nbsp; 716765 |
|  |  | &nbsp;&nbsp; **1559302** |
| **Commercial Services & Supplies 3.5%** | **Commercial Services & Supplies 3.5%** |  |
| MSA Safety, Inc.  | 2092 | &nbsp;&nbsp; 342983 |
| Tetra Tech, Inc.  | 14395 | &nbsp;&nbsp; 433577 |
| The Brink's Co.  | 8136 | &nbsp;&nbsp; 843134 |
|  |  | &nbsp;&nbsp; **1619694** |
| **Construction & Engineering 0.5%** | **Construction & Engineering 0.5%** |  |
| Solv Energy, Inc. "A"\* | 7590 | &nbsp;&nbsp; **227928** |
| **Electrical Equipment 3.9%** | **Electrical Equipment 3.9%** |  |
| Bloom Energy Corp. "A"\*  | 2600 | &nbsp;&nbsp; 352274 |
| Nextpower, Inc. "A"\*  | 8300 | &nbsp;&nbsp; 1000565 |
| Thermon Group Holdings, Inc.\*  | 9149 | &nbsp;&nbsp; 461110 |
|  |  | &nbsp;&nbsp; **1813949** |
| **Machinery 1.3%** | **Machinery 1.3%** |  |
| Chart Industries, Inc.\*  | 900 | &nbsp;&nbsp; 186075 |
| IDEX Corp.  | 1502 | &nbsp;&nbsp; 284704 |
| SPX Technologies, Inc.\*  | 600 | &nbsp;&nbsp; 119964 |
|  |  | &nbsp;&nbsp; **590743** |
| **Professional Services 2.9%** | **Professional Services 2.9%** |  |
| Broadridge Financial Solutions, Inc.  | 1782 | &nbsp;&nbsp; 289539 |
| Kforce, Inc.  | 11225 | &nbsp;&nbsp; 328219 |
| Maximus, Inc.  | 8556 | &nbsp;&nbsp; 548440 |
| Verra Mobility Corp.\*  | 10800 | &nbsp;&nbsp; 154332 |
|  |  | &nbsp;&nbsp; **1320530** |
| **Trading Companies & Distributors 3.5%** | **Trading Companies & Distributors 3.5%** |  |
| Rush Enterprises, Inc. "A"  | 21385 | &nbsp;&nbsp; 1413762 |
| Titan Machinery, Inc.\*  | 11743 | &nbsp;&nbsp; 196343 |
|  |  | &nbsp;&nbsp; **1610105** |
| **Information Technology 22.4%** | **Information Technology 22.4%** |  |
| **Communications Equipment 1.0%** | **Communications Equipment 1.0%** |  |
| Calix, Inc.\* | 9644 | &nbsp;&nbsp; **472460** |
| **Electronic Equipment, Instruments & Components 5.5%** | **Electronic Equipment, Instruments & Components 5.5%** |  |
| Advanced Energy Industries, Inc.  | 5129 | &nbsp;&nbsp; 1655180 |

---

------

---

| | | |
|:---|:---|:---|
| Cognex Corp.  | 7873 | &nbsp;&nbsp; 385698 |
| Fabrinet\*  | 900 | &nbsp;&nbsp; 469368 |
|  |  | &nbsp;&nbsp; **2510246** |
| **Semiconductors & Semiconductor Equipment 10.9%** | **Semiconductors & Semiconductor Equipment 10.9%** |  |
| Credo Technology Group Holding Ltd.\*  | 3300 | &nbsp;&nbsp; 309771 |
| Entegris, Inc.  | 4821 | &nbsp;&nbsp; 565214 |
| FormFactor, Inc.\*  | 7627 | &nbsp;&nbsp; 739743 |
| Impinj, Inc.\*  | 2530 | &nbsp;&nbsp; 259831 |
| Monolithic Power Systems, Inc.  | 847 | &nbsp;&nbsp; 926067 |
| Semtech Corp.\*  | 7632 | &nbsp;&nbsp; 586825 |
| SiTime Corp.\*  | 3087 | &nbsp;&nbsp; 1066095 |
| Ultra Clean Holdings, Inc.\*  | 8673 | &nbsp;&nbsp; 539287 |
|  |  | &nbsp;&nbsp; **4992833** |
| **Software 4.3%** | **Software 4.3%** |  |
| Commvault Systems, Inc.\*  | 1300 | &nbsp;&nbsp; 101257 |
| Dynatrace, Inc.\*  | 7679 | &nbsp;&nbsp; 283969 |
| Five9, Inc.\*  | 9547 | &nbsp;&nbsp; 144828 |
| Tenable Holdings, Inc.\*  | 12141 | &nbsp;&nbsp; 205365 |
| Tyler Technologies, Inc.\*  | 2076 | &nbsp;&nbsp; 710781 |
| Varonis Systems, Inc.\*  | 21577 | &nbsp;&nbsp; 463258 |
| Workiva, Inc.\*  | 1358 | &nbsp;&nbsp; 80978 |
|  |  | &nbsp;&nbsp; **1990436** |
| **Technology Hardware, Storage & Peripherals 0.7%** | **Technology Hardware, Storage & Peripherals 0.7%** |  |
| Everpure, Inc. "A"\*  | 4000 | &nbsp;&nbsp; 236160 |
| IonQ, Inc.\* (a) | 2400 | &nbsp;&nbsp; 69192 |
|  |  | &nbsp;&nbsp; **305352** |
| **Materials 2.4%** | **Materials 2.4%** |  |
| **Construction Materials 1.8%** | **Construction Materials 1.8%** |  |
| Eagle Materials, Inc. | 4401 | &nbsp;&nbsp; **833769** |
| **Metals & Mining 0.6%** | **Metals & Mining 0.6%** |  |
| Cleveland-Cliffs, Inc.\* | 29787 | &nbsp;&nbsp; **251700** |
| **Real Estate 3.0%** | **Real Estate 3.0%** |  |
| **Diversified REITs 1.1%** | **Diversified REITs 1.1%** |  |
| Essential Properties Realty Trust, Inc.  | 16178 | &nbsp;&nbsp; **491164** |
| **Health Care REITs 0.5%** | **Health Care REITs 0.5%** |  |
| Janus Living, Inc. "A" \* | 9186 | &nbsp;&nbsp; **216514** |
| **Industrial REITs 0.7%** | **Industrial REITs 0.7%** |  |
| EastGroup Properties, Inc.  | 1808 | &nbsp;&nbsp; **334643** |
| **Specialized REITs 0.7%** | **Specialized REITs 0.7%** |  |
| Four Corners Property Trust, Inc.  | 13954 | &nbsp;&nbsp; **330012** |
| **Utilities 0.5%** | **Utilities 0.5%** |  |
| **Independent Power & Renewable Electricity Producers 0.5%** | **Independent Power & Renewable Electricity Producers 0.5%** |  |
| Hallador Energy Co.\* | 13000 | &nbsp;&nbsp; **211640** |
| **Total Common Stocks** (Cost $26,124,059) | **Total Common Stocks** (Cost $26,124,059) | &nbsp;&nbsp; **44996502** |

---

------

---

| | | |
|:---|:---|:---|
| **Other Investments 0.0%** | **Other Investments 0.0%** |  |
| **Health Care 0.0%** | **Health Care 0.0%** |  |
| **Life Sciences Tools & Services 0.0%** | **Life Sciences Tools & Services 0.0%** |  |
| OmniAb, Inc. $12.50 Earnout\* (b) (c) | 1013 | &nbsp;&nbsp; 0 |
| OmniAb, Inc. $15.00 Earnout\* (b) (c) | 1013 | &nbsp;&nbsp; 0 |
| **Total Other Investments** (Cost $0) | **Total Other Investments** (Cost $0) | &nbsp;&nbsp; **0** |
| **Rights 0.0%** | **Rights 0.0%** |  |
| **Health Care**  | **Health Care**  |  |
| Blueprint Medicines Corp.,\* (c) (Cost $1,603) | 3484 | &nbsp;&nbsp; **1603** |
| **Securities Lending Collateral 0.7%** | **Securities Lending Collateral 0.7%** | **Securities Lending Collateral 0.7%** |
| &nbsp;&nbsp;&nbsp; DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional <br> Shares", 3.55% (d) (e) (Cost $338,075)<br>| 338075 | &nbsp;&nbsp; **338075** |
| **Cash Equivalents 2.3%** | **Cash Equivalents 2.3%** | **Cash Equivalents 2.3%** |
| DWS Central Cash Management Government Fund, 3.66% (d) (Cost $1,048,661) | 1048661 | &nbsp;&nbsp; **1048661** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **% of** <br>**Net Assets**<br>| **Value ($)** |
| **Total Investment Portfolio** (Cost $27,512,398) | 101.0 | &nbsp;&nbsp; **46384841** |
| **Other Assets and Liabilities, Net**  | (1.0)<br>| &nbsp;&nbsp; **(444992)**<br>|
| **Net Assets** | 100.0 | &nbsp;&nbsp; **45939849** |

---

*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 March 31, 2026 are as follows:* 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value ($) at** <br>**12/31/2025**<br>| &nbsp;&nbsp; **Purchases** <br>**Cost ($)**<br>| &nbsp;&nbsp; **Sales** <br>**Proceeds ($)**<br>| &nbsp;&nbsp; **Net Realized** <br>**Gain/** <br>**(Loss) ($)**<br>| &nbsp;&nbsp; **Net Change in** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation) ($)**<br>| **Income ($)** | &nbsp;&nbsp; **Capital Gain** <br>**Distributions ($)**<br>| &nbsp;&nbsp; **Number** <br>**of Shares** <br>**at** <br>**3/31/2026**<br>| &nbsp;&nbsp; **Value ($) at** <br>**3/31/2026**<br>|
| **Securities Lending Collateral 0.7%** | **Securities Lending Collateral 0.7%** | **Securities Lending Collateral 0.7%** | **Securities Lending Collateral 0.7%** | **Securities Lending Collateral 0.7%** | **Securities Lending Collateral 0.7%** | **Securities Lending Collateral 0.7%** | **Securities Lending Collateral 0.7%** | **Securities Lending Collateral 0.7%** |
| DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (d) (e) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (d) (e) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (d) (e) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (d) (e) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (d) (e) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (d) (e) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (d) (e) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (d) (e) | DWS Government & Agency Securities Portfolio "DWS Government Cash Institutional Shares", <br>3.55% (d) (e) |
| 459425  | —  | 121,350 (f) | —  | —  | 158  | —  | 338075  | 338075  |
| **Cash Equivalents 2.3%** | **Cash Equivalents 2.3%** | **Cash Equivalents 2.3%** | **Cash Equivalents 2.3%** | **Cash Equivalents 2.3%** | **Cash Equivalents 2.3%** | **Cash Equivalents 2.3%** | **Cash Equivalents 2.3%** | **Cash Equivalents 2.3%** |
| DWS Central Cash Management Government Fund, 3.66% (d) | DWS Central Cash Management Government Fund, 3.66% (d) | DWS Central Cash Management Government Fund, 3.66% (d) | DWS Central Cash Management Government Fund, 3.66% (d) | DWS Central Cash Management Government Fund, 3.66% (d) | DWS Central Cash Management Government Fund, 3.66% (d) | DWS Central Cash Management Government Fund, 3.66% (d) | DWS Central Cash Management Government Fund, 3.66% (d) | DWS Central Cash Management Government Fund, 3.66% (d) |
| 540492  | 1728055  | 1219886  | —  | —  | 8094  | —  | 1048661  | 1048661  |
| **999917** | **1728055** | **1341236** | **—** | **—** | **8252** | **—** | **1386736** | **1386736** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*\** *Non-income producing security.* 

*(a)* *All or a portion of these securities were on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that* *are also on loan. The value of securities loaned at March 31, 2026 amounted to $339,117, which is 0.7% of net assets.* 

*(b)* *Earnout Shares: Will vest based upon the achievement of certain volume-weighted average trading prices (VWAP) for shares of* *OmniAb Inc. Earnout Shares are not transferrable until the vesting condition for the applicable tranche of Earnout Shares has* *been achieved.* 

*(c)* *Investment was valued using significant unobservable inputs.*

*(d)* *Affiliated fund managed by DWS Investment Management Americas, Inc. The rate shown is the annualized seven-day yield at* *period end.* 

*(e)* *Represents cash collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates.*

*(f)* *Represents the net increase (purchase cost) or decrease (sales proceeds) in the amount invested in cash collateral for the period* *ended March 31, 2026.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

*REIT: Real Estate Investment Trust*<br>

***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 or liquidity associated with investing in those securities.*

*The following is a summary of the inputs used as of March 31, 2026 in valuing the Fund's investments.* 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks (a) | $44996502 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $44996502 |
| Other Investments  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Rights  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 1603 | &nbsp;&nbsp; 1603 |
| Short-Term Investments (a) | 1386736 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1386736 |
| **Total** | **$46383238** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$1603** | &nbsp;&nbsp; **$46384841** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* *See Investment Portfolio for additional detailed categorizations.* 

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.

VS2SMCG-PH1

------

## 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 Growth VIP

- **b. EDGAR series identifier (if any):** S000006260

- **c. LEI of Series:** 0OZ934O2UM8WQZ3ZKH96

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $46405965.05

**Total Liabilities:** $443698.12

**Net Assets:** $45962266.93

**Cash Not Reported:** $3189.45

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017214 | 4.02%                | 0.61%                | -6.60%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $734995.93               | $1219608.35                                |
| Month 2  | $907779.15               | $-607817.96                                |
| Month 3  | $264480.01               | $-3522297.50                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Advanced Energy Industries Inc            | Advanced Energy Industries Inc                                                        | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |      5129 | NS      | $1655179.59   | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphatec Holdings Inc                     | Alphatec Holdings Inc                                                                 | CUSIP: 02081G201<br>LEI: 549300EZE8CQ8K65FS24 | Long             | EC               | CORP              | US        |      9320 | NS      | $101401.60    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Apellis Pharmaceuticals Inc               | Apellis Pharmaceuticals Inc                                                           | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |      3951 | NS      | $158948.73    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Axogen Inc                                | Axogen Inc                                                                            | CUSIP: 05463X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5400 | NS      | $178902.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bancorp Inc/The                           | Bancorp Inc/The                                                                       | CUSIP: 05969A105<br>LEI: 894500FP2ICT1B019Y71 | Long             | EC               | CORP              | US        |      5495 | NS      | $295246.35    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp                         | Bloom Energy Corp                                                                     | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |      2600 | NS      | $352274.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA BLUEPRINT MEDIC                    | CONTRA BLUEPRINT MEDIC                                                                | CUSIP: 096CVR048<br>LEI: 5299004CC60O9T5HVM83 | Long             |  |  | US        |      3484 | NS      | $1602.64      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Bridgebio Pharma Inc                      | Bridgebio Pharma Inc                                                                  | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |      2300 | NS      | $170798.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutions Inc      | Bright Horizons Family Solutions Inc                                                  | CUSIP: 109194100<br>LEI: 2549009BKSVTM7UEYT38 | Long             | EC               | CORP              | US        |      3398 | NS      | $279077.74    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Brink's Co/The                            | Brink's Co/The                                                                        | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |      8136 | NS      | $843133.68    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions Inc        | Broadridge Financial Solutions Inc                                                    | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |      1782 | NS      | $289539.36    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc                  | Builders FirstSource Inc                                                              | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      8706 | NS      | $716764.98    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc                     | Burlington Stores Inc                                                                 | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |      2883 | NS      | $938070.54    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                                 | Calix Inc                                                                             | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |      9644 | NS      | $472459.56    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Caris Life Sciences Inc                   | Caris Life Sciences Inc                                                               | CUSIP: 142152107<br>LEI: 549300LX5LO78M5VPY43 | Long             | EC               | CORP              | US        |      5928 | NS      | $105992.64    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc                | Casey's General Stores Inc                                                            | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      1571 | NS      | $1143468.06   | 2.49%             |  |  |  | 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        |    338075 | NS      | $338075.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc              | Catalyst Pharmaceuticals Inc                                                          | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |      7600 | NS      | $188176.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Celldex Therapeutics Inc                  | Celldex Therapeutics Inc                                                              | CUSIP: 15117B202<br>LEI: 529900F018DMYWH38923 | Long             | EC               | CORP              | US        |     12600 | NS      | $399672.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CG oncology Inc                           | CG oncology Inc                                                                       | CUSIP: 156944100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4100 | NS      | $277488.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc                      | Chart Industries Inc                                                                  | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |       900 | NS      | $186075.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp                        | Expand Energy Corp                                                                    | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      2543 | NS      | $279170.54    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleveland-Cliffs Inc                      | Cleveland-Cliffs Inc                                                                  | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |     29787 | NS      | $251700.15    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                               | Cognex Corp                                                                           | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |      7873 | NS      | $385698.27    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Commvault Systems Inc                     | Commvault Systems Inc                                                                 | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |      1300 | NS      | $101257.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Natural Resources Inc                | Core Natural Resources Inc                                                            | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |      2519 | NS      | $263814.87    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc             | Crinetics Pharmaceuticals Inc                                                         | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |      4600 | NS      | $167072.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                             | Dynatrace Inc                                                                         | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |      7679 | NS      | $283969.42    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc                       | Eagle Materials Inc                                                                   | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      4401 | NS      | $833769.45    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                  | EastGroup Properties Inc                                                              | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               |  | US        |      1808 | NS      | $334642.72    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                              | Entegris Inc                                                                          | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |      4821 | NS      | $565214.04    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust Inc     | Essential Properties Realty Trust Inc                                                 | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               |  | US        |     16178 | NS      | $491164.08    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EyePoint Inc                              | EyePoint Inc                                                                          | CUSIP: 30233G209<br>LEI: 549300QE1RU34T50MR69 | Long             | EC               | CORP              | US        |      5600 | NS      | $72184.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc              | FactSet Research Systems Inc                                                          | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |      1036 | NS      | $224801.64    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Five9 Inc                                 | Five9 Inc                                                                             | CUSIP: 338307101<br>LEI: 254900MXP6EWY0SFFR59 | Long             | EC               | CORP              | US        |      9547 | NS      | $144827.99    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                            | FormFactor Inc                                                                        | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |      7627 | NS      | $739742.73    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc           | Four Corners Property Trust Inc                                                       | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               |  | US        |     13954 | NS      | $330012.10    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentherm Inc                              | Gentherm Inc                                                                          | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Long             | EC               | CORP              | US        |      7364 | NS      | $204571.92    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc                        | Globus Medical Inc                                                                    | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |      1424 | NS      | $122691.84    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp                          | Haemonetics Corp                                                                      | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |      1353 | NS      | $76255.08     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Hallador Energy Co                        | Hallador Energy Co                                                                    | CUSIP: 40609P105<br>LEI: 254900GKEQRHOI2SSC19 | Long             | EC               | CORP              | US        |     13000 | NS      | $211640.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc                 | Halozyme Therapeutics Inc                                                             | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      2800 | NS      | $180964.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc                          | HealthEquity Inc                                                                      | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |      4529 | NS      | $378488.53    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                                | HEICO Corp                                                                            | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |      2576 | NS      | $706339.20    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Grand Vacations Inc                | Hilton Grand Vacations Inc                                                            | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Long             | EC               | CORP              | US        |     12491 | NS      | $488647.92    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Energy Co                        | Crescent Energy Co                                                                    | CUSIP: 44952J104<br>LEI: 254900FBNP5A21Q39U97 | Long             | EC               | CORP              | US        |      6384 | NS      | $86184.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEX Corp                                 | IDEX Corp                                                                             | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |      1502 | NS      | $284704.10    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                                | Impinj Inc                                                                            | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      2530 | NS      | $259831.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                                | Insmed Inc                                                                            | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |      5344 | NS      | $873850.88    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| IonQ Inc                                  | IonQ Inc                                                                              | CUSIP: 46222L108<br>LEI: 529900RB2VEFGLQS7G28 | Long             | EC               | CORP              | US        |      2400 | NS      | $69192.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Janus Living Inc                          | Janus Living Inc                                                                      | CUSIP: 471024109<br>LEI: 2549003JCIOFKGHO7313 | Long             | EC               |  | US        |      9186 | NS      | $216514.02    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Kforce Inc                                | Kforce Inc                                                                            | CUSIP: 493732101<br>LEI: 5493003RDQQDVXY2SK46 | Long             | EC               | CORP              | US        |     11225 | NS      | $328219.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                 | Kinsale Capital Group Inc                                                             | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      1900 | NS      | $649154.00    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solutions Inc   | Kratos Defense & Security Solutions Inc                                               | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |      2500 | NS      | $176275.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| LGI Homes Inc                             | LGI Homes Inc                                                                         | CUSIP: 50187T106<br>LEI: 549300W02B4WNV8CV109 | Long             | EC               | CORP              | US        |      3089 | NS      | $122108.17    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc                | LPL Financial Holdings Inc                                                            | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      2100 | NS      | $631743.00    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Marzetti Company/The                      | Marzetti Company/The                                                                  | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |      1200 | NS      | $165996.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                     | Lantheus Holdings Inc                                                                 | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      3500 | NS      | $265475.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Lazard Inc                                | Lazard Inc                                                                            | CUSIP: 52110M109<br>LEI: 254900RIBCDJSUFG1A11 | Long             | EC               | CORP              | US        |     12317 | NS      | $523226.16    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals Inc                | Ligand Pharmaceuticals Inc                                                            | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |      2672 | NS      | $533464.80    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc                            | MSA Safety Inc                                                                        | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |      2092 | NS      | $342983.40    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Madrigal Pharmaceuticals Inc              | Madrigal Pharmaceuticals Inc                                                          | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |       500 | NS      | $261735.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co                      | Matador Resources Co                                                                  | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |      5100 | NS      | $322218.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                               | Maximus Inc                                                                           | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |      8556 | NS      | $548439.60    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc                 | Merit Medical Systems Inc                                                             | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |      4200 | NS      | $289506.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co                               | Moelis & Co                                                                           | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |      9136 | NS      | $520752.00    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare Inc                     | Molina Healthcare Inc                                                                 | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |      2319 | NS      | $309122.70    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc              | Monolithic Power Systems Inc                                                          | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       847 | NS      | $926067.45    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc                | Neurocrine Biosciences Inc                                                            | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      7085 | NS      | $933377.90    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc                             | Nextpower Inc                                                                         | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8300 | NS      | $1000565.00   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| OMNIAB INC                                | OMNIAB INC                                                                            | CUSIP: 68218J202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1013 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| OMNIAB INC                                | OMNIAB INC                                                                            | CUSIP: 68218J301<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1013 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Option Care Health Inc                    | Option Care Health Inc                                                                | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     18864 | NS      | $507818.88    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                               | Ovintiv Inc                                                                           | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |      7311 | NS      | $433980.96    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Palomar Holdings Inc                      | Palomar Holdings Inc                                                                  | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               | CORP              | US        |      1300 | NS      | $155350.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc           | Pinnacle Financial Partners Inc                                                       | CUSIP: 72348N109<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |     11962 | NS      | $1030406.68   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Privia Health Group Inc                   | Privia Health Group Inc                                                               | CUSIP: 74276R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8600 | NS      | $176902.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc              | Protagonist Therapeutics Inc                                                          | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2800 | NS      | $295120.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Everpure Inc                              | Everpure Inc                                                                          | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |      4000 | NS      | $236160.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| RadNet Inc                                | RadNet Inc                                                                            | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |     21477 | NS      | $1200349.53   | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals Inc                | Rhythm Pharmaceuticals Inc                                                            | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |      1700 | NS      | $147849.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Enterprises Inc                      | Rush Enterprises Inc                                                                  | CUSIP: 781846209<br>LEI: 529900V3XHTN7A6DFT17 | Long             | EC               | CORP              | US        |     21385 | NS      | $1413762.35   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies Inc                      | SPX Technologies Inc                                                                  | CUSIP: 78473E103<br>LEI: P761FCI0CPOG24I8JE10 | Long             | EC               | CORP              | US        |       600 | NS      | $119964.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Solv Energy Inc                           | Solv Energy Inc                                                                       | CUSIP: 78475V103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7590 | NS      | $227927.70    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholar Rock Holding Corp                 | Scholar Rock Holding Corp                                                             | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |      4300 | NS      | $211388.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Semtech Corp                              | Semtech Corp                                                                          | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |      7632 | NS      | $586824.48    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                               | SiTime Corp                                                                           | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3087 | NS      | $1066095.45   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software Inc         | Take-Two Interactive Software Inc                                                     | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      2174 | NS      | $429365.00    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenable Holdings Inc                      | Tenable Holdings Inc                                                                  | CUSIP: 88025T102<br>LEI: 5493004S5OMPESF0EF83 | Long             | EC               | CORP              | US        |     12141 | NS      | $205365.02    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech Inc                            | Tetra Tech Inc                                                                        | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |     14395 | NS      | $433577.40    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermon Group Holdings Inc                | Thermon Group Holdings Inc                                                            | CUSIP: 88362T103<br>LEI: 529900ZNZBBLDE77MZ38 | Long             | EC               | CORP              | US        |      9149 | NS      | $461109.60    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan Machinery Inc                       | Titan Machinery Inc                                                                   | CUSIP: 88830R101<br>LEI: 549300835ZM8G0BT5C94 | Long             | EC               | CORP              | US        |     11743 | NS      | $196342.96    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                             | TopBuild Corp                                                                         | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      2673 | NS      | $939024.90    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Travere Therapeutics Inc                  | Travere Therapeutics Inc                                                              | CUSIP: 89422G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14578 | NS      | $433112.38    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc                    | Tyler Technologies Inc                                                                | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      2076 | NS      | $710780.88    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc                  | Ultra Clean Holdings Inc                                                              | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |      8673 | NS      | $539287.14    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                             | Valvoline Inc                                                                         | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |      9900 | NS      | $333432.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: —       |
| Varonis Systems Inc                       | Varonis Systems Inc                                                                   | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Long             | EC               | CORP              | US        |     21577 | NS      | $463258.19    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                               | Vaxcyte Inc                                                                           | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |      3300 | NS      | $191763.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Vera Therapeutics Inc                     | Vera Therapeutics Inc                                                                 | CUSIP: 92337R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7600 | NS      | $305748.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corp                       | Verra Mobility Corp                                                                   | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |     10800 | NS      | $154332.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Waystar Holding Corp                      | Waystar Holding Corp                                                                  | CUSIP: 946784105<br>LEI: 529900QJLKXDYU36MH89 | Long             | EC               | CORP              | US        |      6800 | NS      | $163948.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| WEX Inc                                   | WEX Inc                                                                               | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |      2797 | NS      | $428052.88    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                              | Wingstop Inc                                                                          | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |      1500 | NS      | $232455.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Workiva Inc                               | Workiva Inc                                                                           | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |      1358 | NS      | $80977.54     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                       | DWS Central Cash Management Government Fund                                           | CUSIP: 25160K306<br>LEI: 5493003GD84DGSXJ7618 | Long             | STIV             | RF                | US        |   1045062 | NS      | $1045061.60   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| YETI Holdings Inc                         | YETI Holdings Inc                                                                     | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |     15522 | NS      | $567949.98    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegion plc                              | Allegion plc                                                                          | CUSIP: 000000000<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | IE        |      5799 | NS      | $842536.71    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd        | Credo Technology Group Holding Ltd                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      3300 | NS      | $309771.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                  | Fabrinet                                                                              | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |       900 | NS      | $469368.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                         | FTAI Aviation Ltd                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      2500 | NS      | $612500.00    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Helen of Troy Ltd                         | Helen of Troy Ltd                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |      1963 | NS      | $28306.46     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kiniksa Pharmaceuticals International Plc | Kiniksa Pharmaceuticals International Plc                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      8769 | NS      | $422227.35    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

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

**Signature:** Diane Kenneally

**Name of Signer:** Diane Kenneally

**Title:** Treasurer and Chief Financial Officer