UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

**FORM N-Q**

**QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANY**

**_______________________________**

Investment Company Act file number 811-06071

DWS Institutional Funds

(Exact name of registrant as specified in charter)

 

345 Park Avenue

New York, NY 10154-0004

(Address of principal executive offices)             (Zip code)

 

Paul Schubert

345 Park Avenue

New York, NY 10154-0004

(Name and address of agent for service)

Registrant's telephone number, including area code:(212) 454-7190

Date of fiscal year end:06/30

Date of reporting period:03/31/08

 

ITEM 1. SCHEDULE OF INVESTMENTS

 

| Investment Portfolio | **as of March 31, 2008 (Unaudited)** |
|----------------------|--------------------------------------|

 

 

**Daily Assets Fund Institutional**

 

|                  | **Principal****Amount ($)**                      |   | **Value ($)** |
|-----------------------|--------------------------------------------------|--------|---------------|
|                       |
|                  | **Certificates of Deposit and Bank Notes 24.5%** |   |
| ABN AMRO Bank NV:     |                                             |
|                  | 2.525%, 6/18/2008                                |   | 50,000,000    |   | 50,000,538 |
|                  | 2.9%, 8/5/2008                                   |   | 35,000,000    |   | 34,975,814 |
|                  | 2.99%, 6/16/2008                                 |   | 25,000,000    |   | 24,999,948 |
| Banco Santander SA:   |                                             |
|                  | 3.87%, 4/18/2008                                 |   | 45,000,000    |   | 45,001,010 |
|                  | 3.91%, 5/16/2008                                 |   | 30,000,000    |   | 30,001,111 |
|                  | 4.22%, 6/16/2008                                 |   | 32,700,000    |   | 32,704,748 |
|                  | 4.36%, 4/11/2008                                 |   | 10,000,000    |   | 10,000,165 |
| Bank of Scotland PLC: |                                             |
|                  | 3.02%, 5/15/2008                                 |   | 25,000,000    |   | 25,000,000 |
|                  | 4.5%, 11/19/2008                                 |   | 20,000,000    |   | 20,000,000 |
|                  | 4.93%, 10/9/2008                                 |   | 10,000,000    |   | 10,000,000 |
|                       |                                                  |        |               |  |  |  |  |

 

 

----

 

 

| Barclays Bank PLC:                                                    |                       |
|-----------------------------------------------------------------------|----------------------------|
|                                                                  | 3.15%, 7/30/2008           |   | 42,000,000 |   | 42,000,000 |
|                                                                  | 5.2%, 4/9/2008             |   | 25,000,000 |   | 25,000,000 |
| BNP Paribas, 4.4%, 7/7/2008                                           |                       | 17,500,000 |   | 17,500,461 |
| Calyon:                                                               |                       |
|                                                                  | 3.85%, 4/22/2008           |   | 40,000,000 |   | 40,014,515 |
|                                                                  | 4.03%, 7/14/2008           |   | 12,500,000 |   | 12,500,000 |
|                                                                  | 4.38%, 4/10/2008           |   | 25,000,000 |   | 25,002,036 |
| Citibank NA, 3.01%, 5/15/2008                                         |                       | 32,500,000 |   | 32,500,000 |
| Credit Agricole SA, 3.1%, 5/2/2008                                    |                       | 30,000,000 |   | 30,000,513 |
| Credit Industriel et Commercial:                                      |                       |
|                                                                  | 2.665%, 6/19/2008          |   | 35,700,000 |   | 35,700,389 |
|                                                                  | 3.41%, 4/1/2008            |   | 68,000,000 |   | 68,000,000 |
|                                                                  | 4.135%, 4/15/2008          |   | 75,000,000 |   | 75,000,144 |
|                                                                  | 4.615%, 4/7/2008           |   | 30,000,000 |   | 30,000,025 |
| JPMorgan Chase Bank NA:                                               |                       |
|                                                                  | 3.05%, 4/25/2008           |   | 60,000,000 |   | 60,000,000 |
|                                                                  | 4.75%, 6/10/2008           |   | 22,000,000 |   | 22,000,000 |
| Landesbank Hessen-Thuringen Girozentrale, 3.1%, 5/5/2008              |                       | 45,000,000 |   | 45,000,000 |
| Metropolitan Life Global Funding I, 3.8%, 1/20/2009                   |                       | 10,000,000 |   | 10,000,000 |
| Mizuho Corporate Bank Ltd.:                                           |                       |
|                                                                  | 3.05%, 5/14/2008           |   | 25,000,000 |   | 25,004,266 |
|                                                                  | 3.11%, 4/1/2008            |   | 73,800,000 |   | 73,800,000 |
|                                                                  | 3.35%, 4/24/2008           |   | 40,000,000 |   | 40,000,000 |
|                                                                  | 3.9%, 4/17/2008            |   | 35,000,000 |   | 35,000,770 |
| Natixis:                                                              |                       |
|                                                                  | 2.85%, 6/12/2008           |   | 25,000,000 |   | 25,000,000 |
|                                                                  | 3.1%, 5/23/2008            |   | 25,000,000 |   | 25,000,000 |
| Norinchukin Bank Ltd.:                                                |                       |
|                                                                  | 4.37%, 4/11/2008           |   | 20,000,000 |   | 20,000,000 |
|                                                                  | 4.59%, 4/7/2008            |   | 20,000,000 |   | 20,004,906 |
| Toronto-Dominion Bank:                                                |                       |
|                                                                  | 2.68%, 8/18/2008           |   | 32,500,000 |   | 32,532,182 |
|                                                                  | 2.86%, 9/8/2008            |   | 34,000,000 |   | 34,001,489 |
| UBS AG:                                                               |                       |
|                                                                  | 3.33%, 5/23/2008           |   | 50,000,000 |   | 50,000,000 |
|                                                                  | 4.3%, 7/8/2008             |   | 20,000,000 |   | 20,000,000 |
|                                                                       |
| **Total Certificates of Deposit and Bank Notes**(Cost $1,253,245,030) |                       | **1,253,245,030** |
|                                                                  | **Commercial Paper 43.2%** |   |
| **Issued at Discount** 40.5%**                                        |                       |
| AstraZeneca PLC:                                                      |                       |
|                                                                  | 2.88%, 8/20/2008           |   | 15,000,000 |   | 14,830,800 |
|                                                                  | 3.67%, 7/17/2008           |   | 20,000,000 |   | 19,781,839 |
|                                                                  | 4.95%, 4/7/2008            |   | 32,700,000 |   | 32,673,023 |
| Atlantic Asset Securitization Corp., 2.82%, 4/15/2008                 |                       | 25,000,000 |   | 24,972,583 |
| Bank of America Corp., 4.865%, 4/11/2008                              |                       | 25,000,000 |   | 24,966,215 |
| CBA (Delaware) Finance, Inc., 2.88%, 5/30/2008                        |                       | 25,000,000 |   | 24,882,000 |
| Colgate-Palmolive Co., 2.2%, 4/3/2008                                 |                       | 5,000,000 |   | 4,999,389 |
| General Electric Capital Corp.:                                       |                       |
|                                                                  | 2.75%, 9/19/2008           |   | 22,000,000 |   | 21,712,625 |
|                                                                  | 3.0%, 5/27/2008            |   | 20,000,000 |   | 19,906,667 |
|                                                                  | 3.53%, 7/14/2008           |   | 17,500,000 |   | 17,321,539 |
|                                                                  | 3.92%, 9/30/2008           |   | 25,000,000 |   | 24,504,556 |
| Giro Balanced Funding Corp.:                                          |                       |
|                                                                  | 3.265%, 4/4/2008           |   | 29,900,000 |   | 29,891,865 |
|                                                                       |                            |  |  |  |  |  |  |  |

 

 

----

 

 

|                                                | 3.49%, 4/11/2008  |       | 42,000,000  |       | 41,959,283 |
|-----------------------------------------------------|-------------------|------------|-------------|------------|------------|
| Greenwich Capital Holdings, Inc.:                   |              |
|                                                | 3.34%, 4/24/2008  |       | 50,000,000  |       | 49,893,306 |
|                                                | 3.72%, 5/23/2008  |       | 25,000,000  |       | 24,865,667 |
|                                                | 3.8%, 5/23/2008   |       | 10,000,000  |       | 9,945,111  |
|                                                | 4.81%, 5/28/2008  |       | 22,000,000  |       | 21,832,452 |
| Home Depot, Inc.:                                   |              |
|                                                | 3.0%, 4/25/2008   |       | 10,000,000  |       | 9,980,000  |
|                                                | 3.45%, 4/4/2008   |       | 25,000,000  |       | 24,992,813 |
|                                                | 3.45%, 4/15/2008  |       | 15,000,000  |       | 14,979,875 |
| International Lease Finance Corp., 3.05%, 4/25/2008 |              | 30,000,000 |        | 29,939,000 |
| JPMorgan Chase & Co., 2.49%, 9/29/2008          |              | 45,000,000 |        | 44,436,638 |
| KBC Financial Products International Ltd.:          |              |
|                                                | 2.975%, 8/19/2008 |       | 25,000,000  |       | 24,710,764 |
|                                                | 4.22%, 7/11/2008  |       | 20,000,000  |       | 19,763,211 |
| Kellogg Co.:                                        |              |
|                                                | 2.75%, 4/18/2008  |       | 15,000,000  |       | 14,980,521 |
|                                                | 3.3%, 5/1/2008    |       | 10,000,000  |       | 9,972,500  |
| Kraft Foods, Inc., 3.24%, 4/2/2008                  |              | 12,000,000 |        | 11,998,920 |
| Liberty Street Funding LLC:                         |              |
|                                                | 2.97%, 4/22/2008  |       | 35,000,000  |       | 34,939,363 |
|                                                | 3.0%, 5/13/2008   |       | 30,000,000  |       | 29,895,000 |
|                                                | 3.15%, 4/18/2008  |       | 10,000,000  |       | 9,985,125  |
|                                                | 3.17%, 4/9/2008   |       | 15,000,000  |       | 14,989,433 |
|                                                | 3.17%, 4/23/2008  |       | 10,000,000  |       | 9,980,628  |
|                                                | 3.194%, 5/21/2008 |       | 25,000,000  |       | 24,890,625 |
|                                                | 3.2%, 4/11/2008   |       | 10,000,000  |       | 9,991,111  |
|                                                | 3.2%, 4/14/2008   |       | 10,000,000  |       | 9,988,444  |
|                                                | 3.21%, 5/27/2008  |       | 21,500,000  |       | 21,392,643 |
|                                                | 3.35%, 4/4/2008   |       | 45,000,000  |       | 44,987,437 |
| Market Street Funding LLC:                          |              |
|                                                | 3.35%, 5/1/2008   |       | 86,180,000  |       | 85,939,414 |
|                                                | 3.55%, 4/8/2008   |       | 25,000,000  |       | 24,982,743 |
| Nestle Capital Corp.:                               |              |
|                                                | 2.49%, 12/17/2008 |       | 15,000,000  |       | 14,730,250 |
|                                                | 4.3%, 10/31/2008  |       | 7,500,000   |       | 7,309,188  |
| Nieuw Amsterdam Receivables Corp., 3.2%, 4/10/2008  |              | 60,000,000 |        | 59,952,000 |
| Nissan Motor Acceptance Corp., 3.3%, 4/9/2008       |              | 7,000,000  |        | 6,994,867  |
| Old Line Funding LLC:                               |              |
|                                                | 3.12%, 5/30/2008  |       | 20,000,000  |       | 19,897,733 |
|                                                | 3.14%, 4/9/2008   |       | 35,000,000  |       | 34,975,578 |
|                                                | 3.25%, 4/18/2008  |       | 51,041,000  |       | 50,962,666 |
| Pfizer, Inc.:                                       |              |
|                                                | 4.4%, 5/14/2008   |       | 32,500,000  |       | 32,329,194 |
|                                                | 4.41%, 5/16/2008  |       | 10,000,000  |       | 9,944,875  |
|                                                | 4.53%, 4/28/2008  |       | 19,850,000  |       | 19,782,560 |
| Ranger Funding Co., LLC, 2.8%, 4/21/2008            |              | 20,000,000 |        | 19,968,889 |
| Royal Bank of Scotland Group PLC, 4.25%, 6/9/2008   |              | 20,000,000 |        | 19,837,083 |
| San Paolo IMI US Financial Co., 2.78%, 4/16/2008    |              | 5,000,000  |        | 4,994,208  |
| Scaldis Capital LLC:                                |              |
|                                                | 2.9%, 4/17/2008   |       | 50,000,000  |       | 49,935,556 |
|                                                | 2.95%, 4/25/2008  |       | 25,000,000  |       | 24,950,833 |
| Scotiabanc, Inc., 3.02%, 5/13/2008                  |              | 8,000,000  |        | 7,971,813  |
| Sheffield Receivables Corp.:                        |              |
|                                                | 2.7%, 5/12/2008   |       | 100,000,000 |       | 99,692,500 |
|                                                | 3.3%, 4/10/2008   |       | 45,000,000  |       | 44,962,875 |
| Societe Generale North America, Inc.:               |              |
|                                                     |                   |            |             |            |            |  |

 

 

----

 

 

|                                                                           | 3.15%, 7/22/2008            |              | 22,000,000 |           | 21,784,400 |
|--------------------------------------------------------------------------------|-----------------------------|-------------------|------------|----------------|------------|
|                                                                           | 3.88%, 4/15/2008            |              | 50,000,000 |           | 49,924,556 |
|                                                                           | 4.0%, 7/7/2008              |              | 20,000,000 |           | 19,784,444 |
| Starbird Funding Corp.:                                                        |                        |
|                                                                           | 3.15%, 4/23/2008            |              | 55,000,000 |           | 54,894,125 |
|                                                                           | 3.2%, 4/16/2008             |              | 25,000,000 |           | 24,966,667 |
| Thunder Bay Funding LLC:                                                       |                        |
|                                                                           | 3.12%, 4/11/2008            |              | 25,000,000 |           | 24,978,333 |
|                                                                           | 3.15%, 5/9/2008             |              | 32,000,000 |           | 31,893,600 |
| Toyota Motor Credit Corp.:                                                     |                        |
|                                                                           | 3.24%, 4/25/2008            |              | 15,000,000 |           | 14,967,600 |
|                                                                           | 4.61%, 4/25/2008            |              | 45,000,000 |           | 44,861,700 |
| Tulip Funding Corp., 3.17%, 5/7/2008                                           |                        | 25,000,000        |       | 24,920,750     |
| United Parcel Service, Inc., 4.18%, 5/30/2008                                  |                        | 10,000,000        |       | 9,931,494      |
| Variable Funding Capital Co., LLC:                                             |                        |
|                                                                           | 3.11%, 4/18/2008            |              | 47,000,000 |           | 46,930,975 |
|                                                                           | 3.12%, 4/11/2008            |              | 35,000,000 |           | 34,969,667 |
| Verizon Communications, Inc.:                                                  |                        |
|                                                                           | 2.52%, 4/21/2008            |              | 10,000,000 |           | 9,986,000  |
|                                                                           | 2.97%, 4/2/2008             |              | 10,000,000 |           | 9,999,175  |
| Victory Receivables Corp.:                                                     |                        |
|                                                                           | 2.97%, 4/24/2008            |              | 50,000,000 |           | 49,905,125 |
|                                                                           | 3.0%, 4/17/2008             |              | 24,200,000 |           | 24,167,733 |
|                                                                           | 3.3%, 4/2/2008              |              | 68,000,000 |           | 67,993,767 |
|                                                                           | 3.32%, 4/7/2008             |              | 20,000,000 |           | 19,988,933 |
| Westpac Banking Corp., 2.87%, 6/5/2008                                         |                        | 25,000,000        |       | 24,870,451     |
|                                                                                |
|                                                                           |                        | **2,077,567,291** |
| **Issued at Par 2.7%**                                                         |                        |
| Lehman Brothers Holdings, Inc., 3.35%, 4/1/2008                                |                        | 37,800,000        |       | 37,800,000     |
| Market Street Funding LLC, 3.3%, 4/1/2008                                      |                        | 10,000,000        |       | 10,000,000     |
| Nieuw Amsterdam Receivables Corp., 3.25%, 4/1/2008                             |                        | 20,000,000        |       | 20,000,000     |
| Nissan Motor Acceptance Corp.:                                                 |                        |
|                                                                           | 2.8%, 4/1/2008              |              | 22,000,000 |           | 22,000,000 |
|                                                                           | 3.1%, 4/1/2008              |              | 2,000,000  |           | 2,000,000  |
| Romulus Funding Corp., 3.45%, 4/1/2008                                         |                        | 10,000,000        |       | 10,000,000     |
| Starbird Funding Corp., 3.55%, 4/1/2008                                        |                        | 15,000,000        |       | 15,000,000     |
| Verizon Communications, Inc.:                                                  |                        |
|                                                                           | 3.02%, 4/1/2008             |              | 10,000,000 |           | 10,000,000 |
|                                                                           | 3.05%, 4/1/2008             |              | 10,000,000 |           | 10,000,000 |
|                                                                                |
|                                                                           |                        | **136,800,000**   |
|                                                                                |
| **Total Commercial Paper**(Cost $2,214,367,291)                                |                        | **2,214,367,291** |
|                                                                           | **Master Notes 1.6%**       |              |
| Citigroup Global Markets, Inc., 3.15% *, 4/1/2008 (a) (Cost $80,000,000)       |                        | 80,000,000        |       | **80,000,000** |
|                                                                           | **Asset Backed 0.4%**       |              |
| Steers (Delaware) Business Trust, 144A, 2.674% *, 5/27/2048 (Cost $23,353,399) |                        | 23,353,399        |       | **23,353,399** |
|                                                                           | **Short Term Notes* 21.7%** |              |
| Abbey National Treasury Services PLC, 3.26%, 2/20/2009                         |                        | 25,000,000        |       | 25,000,000     |
| Allied Irish Banks PLC, 2.538%, 8/18/2008                                      |                        | 70,000,000        |       | 70,000,000     |
| American Honda Finance Corp.:                                                  |                        |
|                                                                           | 2.963%, 9/18/2008           |              | 22,000,000 |           | 22,000,000 |
|                                                                           | 144A, 3.168%, 5/12/2008     |              | 20,000,000 |           | 20,002,412 |
| ANZ National (International) Ltd., 144A, 3.21%, 4/10/2009                      |                        | 12,500,000        |       | 12,500,000     |
| Australia & New Zealand Banking Group Ltd.:                                |                        |
|                                                                                |                             |                   |            |                |            |  |  |  |

 

 

----

 

 

|                                                             | 2.618%, 8/22/2008                            |              | 20,000,000 |       | 20,000,000 |
|------------------------------------------------------------------|----------------------------------------------|-------------------|------------|------------|------------|
|                                                             | 144A, 3.35%, 4/2/2009                        |              | 25,000,000 |       | 25,000,000 |
| Banco Bilbao Vizcaya Argentaria SA, 4.017%, 4/17/2008            |                                         | 22,000,000        |       | 22,000,373 |
| Banco Espanol de Credito SA, 3.941%, 8/11/2008                   |                                         | 46,100,000        |       | 46,100,000 |
| Bank of America NA:                                              |                                         |
|                                                             | 2.315%, 5/16/2008                            |              | 30,000,000 |       | 30,000,000 |
|                                                             | 3.208%, 4/3/2009                             |              | 40,000,000 |       | 40,000,000 |
| Bank of Scotland PLC, 4.614%, 4/6/2009                           |                                         | 27,500,000        |       | 27,500,000 |
| BNP Paribas:                                                     |                                         |
|                                                             | 2.606%, 8/25/2008                            |              | 20,000,000 |       | 20,000,000 |
|                                                             | 4.079%, 2/13/2009                            |              | 15,000,000 |       | 15,000,000 |
| Caja de Ahorros y Monte de Piedad de Madrid, 4.043%, 8/12/2008   |                                         | 20,000,000        |       | 20,000,000 |
| Canadian Imperial Bank of Commerce:                              |                                         |
|                                                             | 2.41%, 6/9/2008                              |              | 15,000,000 |       | 15,000,000 |
|                                                             | 3.991%, 7/18/2008                            |              | 35,000,000 |       | 34,979,870 |
| Commonwealth Bank of Australia:                                  |                                         |
|                                                             | 2.618%, 9/23/2008                            |              | 40,000,000 |       | 40,000,000 |
|                                                             | 2.703%, 12/18/2008                           |              | 10,000,000 |       | 9,998,142  |
| Credit Agricole SA:                                              |                                         |
|                                                             | 2.568%, 7/22/2008                            |              | 40,000,000 |       | 40,000,000 |
|                                                             | 144A, 2.828%, 4/22/2009                      |              | 35,000,000 |       | 35,000,000 |
| Danske Bank AS, 2.505%, 8/19/2008                                |                                         | 47,000,000        |       | 46,998,799 |
| DNB NOR Bank ASA, 2.598%, 9/24/2008                              |                                         | 21,500,000        |       | 21,500,000 |
| Fortis Bank SA, 3.863%, 7/18/2008                                |                                         | 22,000,000        |       | 22,006,811 |
| ING Bank NV, 144A, 3.281%, 3/26/2009                             |                                         | 12,500,000        |       | 12,500,000 |
| Intesa Bank Ireland PLC, 2.608%, 8/22/2008                       |                                         | 10,000,000        |       | 10,000,000 |
| JPMorgan Chase & Co., 4.742%, 4/3/2009                       |                                         | 35,000,000        |       | 34,998,202 |
| Metropolitan Life Global Funding I, 144A, 4.247%, 2/9/2009       |                                         | 7,500,000         |       | 7,500,000  |
| National Australia Bank Ltd.:                                    |                                         |
|                                                             | 3.045%, 4/7/2009                             |              | 17,500,000 |       | 17,500,000 |
|                                                             | 3.27%, 2/19/2009                             |              | 25,000,000 |       | 25,000,000 |
| Nordea Bank AB, 3.048%, 9/8/2008                                 |                                         | 20,000,000        |       | 20,000,000 |
| Procter & Gamble International Funding SCA, 3.14%, 2/19/2009 |                                         | 7,500,000         |       | 7,500,000  |
| San Paolo IMI, 3.264%, 3/5/2009                                  |                                         | 35,870,000        |       | 35,870,000 |
| Skandinaviska Enskilda Banken AB:                                |                                         |
|                                                             | 2.795%, 8/19/2008                            |              | 50,000,000 |       | 50,000,000 |
|                                                             | 3.068%, 8/8/2008                             |              | 15,000,000 |       | 15,000,000 |
| SunTrust Bank, Atlanta, 3.893%, 4/21/2008                        |                                         | 15,000,000        |       | 14,998,277 |
| Toyota Motor Credit Corp., 2.36%, 3/12/2009                      |                                         | 15,000,000        |       | 15,000,000 |
| UniCredito Italiano Bank (Ireland) PLC:                          |                                         |
|                                                             | 2.837%, 8/14/2008                            |              | 75,000,000 |       | 75,000,000 |
|                                                             | 3.078%, 8/8/2008                             |              | 40,000,000 |       | 40,000,000 |
|                                                             | 4.432%, 8/8/2008                             |              | 25,000,000 |       | 24,999,418 |
| Westpac Banking Corp., 4.643%, 2/6/2009                          |                                         | 25,000,000        |       | 24,991,673 |
|                                                                  |
| **Total Short Term Notes**(Cost $1,111,443,977)                  |                                         | **1,111,443,977** |
|                                                             | **Government & Agency Obligations 2.7%** |              |
| **US Government Sponsored Agencies**                             |                                         |
| Federal Home Loan Bank:                                          |                                         |
|                                                             | 2.66% *, 4/3/2009                            |              | 38,000,000 |       | 38,000,000 |
|                                                             | 2.625%, 7/15/2008                            |              | 7,500,000  |       | 7,468,353  |
|                                                             | 4.15% **, 6/9/2008                           |              | 12,000,000 |       | 11,904,550 |
| Federal National Mortgage Association:                           |                                         |
|                                                             | 2.33% *, 9/3/2009                            |              | 50,000,000 |       | 49,996,448 |
|                                                             | 3.73% **, 5/29/2008                          |              | 15,000,000 |       | 14,909,858 |
|                                                             | 3.965% **, 4/9/2008                          |              | 15,000,000 |       | 14,986,783 |
|                                                                  |
| **Total Government & Agency Obligations**(Cost $137,265,992) |                                         | **137,265,992**   |
|                                                                  |                                              |                   |            |            |            |  |  |  |

 

 

----

 

 

|                                                                                                                                                                                                          | **Time Deposits 3.1%**                                                                                                                                                                                                                   |                                    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------|
| Calyon, 3.0%, 4/1/2008                                                                                                                                                                                        |                                                                                                                                                                                                                                     | 4,458,539                               |   | 4,458,539 |
| Danske Bank AS, 3.5%, 4/1/2008                                                                                                                                                                                |                                                                                                                                                                                                                                     | 150,000,000                             |   | 150,000,000 |
| Societe Generale, 2.75%, 4/1/2008                                                                                                                                                                             |                                                                                                                                                                                                                                     | 5,000,000                               |   | 5,000,000 |
|                                                                                                                                                                                                               |
| **Total Time Deposits**(Cost $159,458,539)                                                                                                                                                                    |                                                                                                                                                                                                                                     | **159,458,539**                         |
|                                                                                                                                                                                                          | **Repurchase Agreements 3.6%**                                                                                                                                                                                                           |                                    |
| BNP Paribas, 2.4%, dated 3/31/2008, to be repurchased at $87,515,072 on 4/1/2008 (b)                                                                                                                          |                                                                                                                                                                                                                                     | 87,509,238                              |   | 87,509,238 |
| Greenwich Capital Markets, Inc., 2.5%, dated 3/31/2008, to be repurchased at $96,006,667 on 4/1/2008 (c)                                                                                                      |                                                                                                                                                                                                                                     | 96,000,000                              |   | 96,000,000 |
|                                                                                                                                                                                                               |
| **Total Repurchase Agreements**(Cost $183,509,238)                                                                                                                                                            |                                                                                                                                                                                                                                     | **183,509,238**                         |
|                                                                                                                                                                                                          | **% of****               Net Assets**                                                                                                                              |                                    | **Value ($)** |
|                                                                                                                                                                                                               |
| **Total Investment Portfolio**(Cost $5,162,643,466) †                                                                                                                                                  | 100.8                                                                                                                                                                                                                                    |                                    | **5,162,643,466** |
| **Other Assets and Liabilities, Net**                                                                                                                                                                         | (0.8)                                                                                                                                                                                                                                    |                                    | **(38,718,341)** |
|                                                                                                                                                                                                               |
| **Net Assets**                                                                                                                                                                                                | 100.0                                                                                                                                                                                                                                    |                                    | **5,123,925,125** |
|                                                                                                                                                                                                          | *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.*                            |
| ***                                                                                                                                                                                                           | *Floating rate notes are securities whose yields vary with a designated market index or market rate, such as the coupon-equivalent of the US Treasury bill rate. These securities are shown at their current rate as of March 31, 2008.* |
| ****                                                                                                                                                                                                          | *Annualized yield at time of purchase; not a coupon rate.*                                                                                                                                                                               |
| *†*                                                                                                                                                                                                    | *The cost for federal income tax purposes was $5,162,643,466.*                                                                                                                                                                           |
| *(a)*                                                                                                                                                                                                         | *Reset date; not a maturity date.*                                                                                                                                                                                                       |
| *(b)*                                                                                                                                                                                                         | *Collateralized by $88,110,664 Federal National Mortgage Association, with various coupon rates from 4.9-6.0%, with various maturities of 8/1/2037-3/1/2038 with a value of $89,452,180.*                                                |
| *(c)*                                                                                                                                                                                                         | *Collateralized by:*                                                                                                                                                                                                                     |
|                                                                                                                                                                                                          | ***Principal***                                                                                                                                                                                                                          |                                    |   |   | ***Collateral*** |   |
|                                                                                                                                                                                                          | ***Amount ($)***                                                                                                                                                                                                                         | ***Security***                          | ***Rate (%)*** | ***Maturity Date*** | ***Value ($)*** |   |
|                                                                                                                                                                                                          | *1,395,000*                                                                                                                                                                                                                              | *Federal Home Loan Bank*                | *5.625* | *6/13/2016* | *1,549,754* |   |
|                                                                                                                                                                                                          | *96,534,924*                                                                                                                                                                                                                             | *Federal National Mortgage Association* | *Zero Coupon-7.0* | *10/1/2012-2/1/2038* | *97,303,998* |   |
|                                                                                                                                                                                                          | ***Total Collateral Value***                                                                                                                                                                                                             |                                    |   | ***98,853,752*** |   |
| *144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.* |
|                                                                                                                                                                                                               |                                                                                                                                                                                                                                          |                                         |  |  |  |  |  |  |  |  |  |  |  |

 

 

| **ITEM 2.** | **CONTROLS AND PROCEDURES**                                                                                                                                                                                                                                                                                                                                                                        |
|-------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |                                                                                                                                                                                                                                                                                                                                                                                               |
|        | (a)          The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.                                                                       |
|        |                                                                                                                                                                                                                                                                                                                                                                                               |
|        | (b)          There have been no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial                            reporting. |
|        |                                                                                                                                                                                                                                                                                                                                                                                               |

 

 

----

 

 

| **ITEM 3.** | **EXHIBITS**                                                                                                                                            |
|-------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |                                                                                                                                                    |
|        | Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. |

 

 

**SIGNATURES**

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

| Registrant: | Daily Assets Fund Institutional, a series of DWS Institutional Funds |
|-------------|----------------------------------------------------------------------|

 

| By: | /s/Michael G. Clark |
|-----|---------------------|

|   | Michael G. Clark |
|--------|------------------|

President

 

| Date: | May 14, 2008 |
|-------|--------------|

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

| Registrant: | Daily Assets Fund Institutional, a series of DWS Institutional Funds |
|-------------|----------------------------------------------------------------------|

 

| By: | /s/Michael G. Clark |
|-----|---------------------|

|   | Michael G. Clark |
|--------|------------------|

President

 

| Date: | May 14, 2008 |
|-------|--------------|

 

 

| By: | /s/Paul Schubert |
|-----|------------------|

|   | Paul Schubert |
|--------|---------------|

Chief Financial Officer and Treasurer

 

Date:                                        May 14, 2008