# EDGAR Filing Document

**Accession Number:** 0000926425
**File Stem:** 0001410368-25-017960
**Filing Date:** 2025-10
**Character Count:** 14938
**Document Hash:** fc6c5735f43a1f39596c5517cbf163a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-017960.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0001410368-25-017960

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEUTSCHE DWS ASSET ALLOCATION TRUST
- **CENTRAL INDEX KEY:** 0000926425

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08606
- **FILM NUMBER:** 251419301

**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 ASSET ALLOCATION TRUST
- **DATE OF NAME CHANGE:** 20151019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DEUTSCHE TARGET DATE SERIES
- **DATE OF NAME CHANGE:** 20140811

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DWS TARGET DATE SERIES
- **DATE OF NAME CHANGE:** 20071101

## Series and Classes Contracts Data

### DWS Multi-Asset Moderate Allocation Fund (Series ID: S000006098)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000016756 | Class A      | PLUSX           |
| C000016758 | Class C      | PLSCX           |
| C000016759 | Class S      | PPLSX           |

## 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 ASSET ALLOCATION TRUST

- **b. Investment Company Act file number:** 811-08606

- **c. CIK number of Registrant:** 0000926425

- **d. LEI of Registrant:** OBQCJCH5PLZP8KWUJD96

- **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 Multi-Asset Moderate Allocation Fund

- **b. EDGAR series identifier (if any):** S000006098

- **c. LEI of Series:** 1W2RFPWVYQE2JC0KFK42

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-31

**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:** $21205567.54

**Total Liabilities:** $94745.75

**Net Assets:** $21110821.79

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000016758 | 3.01%                | 0.13%                | 1.99%                |
| Class ID C000016756 | 3.02%                | 0.40%                | 1.99%                |
| Class ID C000016759 | 3.16%                | 0.27%                | 2.13%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1218.24                 | $555850.18                                 |
| Month 2  | $98119.96                | $-43003.56                                 |
| Month 3  | $80019.20                | $345180.77                                 |

**Designated Index Information**

- **Index Name:** 22% S&P, 70% S&P Target Risk Moderate, 6% FTSE EPRA Nareit, 2% BBG Commodity

- **Index Identifier:** DJFOSNSN

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| iShares JP Morgan USD Emerging                 | iShares JP Morgan USD Emerging Markets Bond ETF        | CUSIP: 464288281<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | RF                | US        |      8229 | NS      | $774513.48    | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Intermediate-Term Corporate Bond ETF  | Vanguard Intermediate-Term Corporate Bond ETF          | CUSIP: 92206C870<br>LEI: VKDXEYNPEMWGHJ22MR31 | Long             | EC               | RF                | US        |     22549 | NS      | $1881037.58   | 8.91%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck J. P. Morgan EM Local Currency Bond ETF | VanEck J. P. Morgan EM Local Currency Bond ETF         | CUSIP: 92189H300<br>LEI: 549300CNWPR88MZBEA63 | Long             | EC               | RF                | US        |      6363 | NS      | $161365.68    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                              | EURO STOXX 50 SEP25                                    | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |         4 | NC      | $1079.74      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                            | DWS RREEF Global Infrastructure Fund  'Institutional'  | CUSIP: 25156A858<br>LEI: 549300PVLPCCDJRWQR23 | Long             | EC               | RF                | US        |     39240 | NS      | $650200.64    | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS Global Real Estate Securities Fund         | DWS Global Real Estate Securities Fund                 | CUSIP: 25159L406<br>LEI: S3F7OHQGFS84K9XEJE32 | Long             | EC               | RF                | US        |    102171 | NS      | $749936.27    | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | US 2YR NOTE (CBT) DEC25                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         4 | NC      | $677.63       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | US ULTRA BOND CBT DEC25                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         3 | NC      | $155.75       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Xtrackers RREEF Global Natural Resources ETF   | Xtrackers RREEF Global Natural Resources ETF           | CUSIP: 23306X837<br>LEI: 529900FTFUUP6MXH3A36 | Long             | EC               | RF                | US        |      4266 | NS      | $114709.33    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                            | DWS Equity 500 Index Fund                              | CUSIP: 25159R106<br>LEI: BSFDGTJIOB5CFE60ND57 | Long             | EC               | RF                | US        |     43178 | NS      | $7509455.67   | 35.57%            |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                            | DWS RREEF Real Estate Securities Fund 'Institutional'  | CUSIP: 25159L737<br>LEI: 2EGUP71H6PBMSKMC3J09 | Long             | EC               | RF                | US        |      2441 | NS      | $53096.99     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                            | DWS Emerging Markets Fixed Income Fund 'Institutional' | CUSIP: 25156A841<br>LEI: LBPF8NSCNKWC3WP4IN32 | Long             | EC               | RF                | US        |         9 | NS      | $65.91        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 2000 ETF                       | iShares Russell 2000 ETF                               | CUSIP: 464287655<br>LEI: 549300O80OAR5VTWR172 | Long             | EC               | RF                | US        |       971 | NS      | $228350.07    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | US LONG BOND(CBT) DEC25                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         1 | NC      | $262.93       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | US 5YR NOTE (CBT) DEC25                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         6 | NC      | $1953.93      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | US 10YR NOTE (CBT)DEC25                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -9 | NC      | $-4242.33     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core MSCI Europe ETF                   | iShares Core MSCI Europe ETF                           | CUSIP: 46434V738<br>LEI: 549300XU2KDV0C5LCG21 | Long             | EC               | RF                | US        |     18488 | NS      | $1233889.12   | 5.84%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core International Aggregate Bond ETF  | iShares Core International Aggregate Bond ETF          | CUSIP: 46435G672<br>LEI: 549300FPQU8XYG8LAX15 | Long             | EC               | RF                | US        |     13486 | NS      | $688460.30    | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                            | DWS Emerging Markets Equity Fund 'Institutional'       | CUSIP: 25156G780<br>LEI: 549300V295OG0NZ7UA89 | Long             | EC               | RF                | US        |     54321 | NS      | $1134217.43   | 5.37%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                            | DWS High Income Fund 'Institutional'                   | CUSIP: 25155T635<br>LEI: TWIQP8VKJK957HT5V127 | Long             | EC               | RF                | US        |    247700 | NS      | $1109695.71   | 5.26%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                            | DWS Enhanced Commodity Strategy Fund 'Institutional'   | CUSIP: 25159L836<br>LEI: U72UPDOVVEAXSRWTZF97 | Long             | EC               | RF                | US        |     54653 | NS      | $320268.72    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                            | DWS Central Cash Management Government Fund            | CUSIP: 25160K306<br>LEI: 5493003GD84DGSXJ7618 | Long             | STIV             | RF                | US        |     22862 | NS      | $22862.47     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Japan ETF                         | iShares MSCI Japan ETF                                 | CUSIP: 46434G822<br>LEI: 5493008I6YRUC6I0S051 | Long             | EC               | RF                | US        |      5792 | NS      | $453397.76    | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares U.S. Treasury Bond ETF                 | iShares U.S. Treasury Bond ETF                         | CUSIP: 46429B267<br>LEI: 549300YMK9GAMCTG8G20 | Long             | EC               | RF                | US        |     43317 | NS      | $995641.25    | 4.72%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares GNMA Bond ETF                          | iShares GNMA Bond ETF                                  | CUSIP: 46429B333<br>LEI: 5493000KODSFW8LTTF91 | Long             | EC               | RF                | US        |     29582 | NS      | $1309595.14   | 6.20%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Pacific ex Japan ETF              | iShares MSCI Pacific ex Japan ETF                      | CUSIP: 464286665<br>LEI: 549300BD232B3QSQRR65 | Long             | EC               | RF                | US        |      4158 | NS      | $214344.90    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS                                            | DWS Small Cap Core Fund 'S'                            | CUSIP: 25157M810<br>LEI: KKQKEDL2J9UGWEWMX474 | Long             | EC               | RF                | US        |     10650 | NS      | $586409.15    | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                                    | CUSIP: 912797PW1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    127600 | PA      | $127464.80    | 0.60%             | 2025-09-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US 10YR ULTRA FUT DEC25                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -5 | NC      | $-2434.97     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard S&P 500 ETF                           | Vanguard S&P 500 ETF                                   | CUSIP: 922908363<br>LEI: 549300D8V8ZP5GRJOC71 | Long             | EC               | RF                | US        |      1444 | NS      | $856407.52    | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-15

**Name of Applicant:** DEUTSCHE DWS ASSET ALLOCATION TRUST

**Signature:** Diane Kenneally

**Name of Signer:** Diane Kenneally

**Title:** Treasurer and Chief Financial Officer