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  811-2021

DWS Securities Trust

(Exact name of registrant as specified in charter)

 

345 Park Avenue

New York, NY  10154

(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:  05/31

Date of reporting period: 2/28/09

 

ITEM 1.  SCHEDULE OF INVESTMENTS

 

| Investment Portfolio | **as of February 28, 2009  (Unaudited)** |
|----------------------|------------------------------------------|

 

 

**DWS Health Care Fund**

 

 

|   | **Shares**              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | **Value ($)** |
|--------|-------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|
|        |
|   | **Common Stocks 96.3%** |  
**Health Care 96.3%**

 
**Biotechnology 26.7%**

 
Acorda Therapeutics, Inc.* 

 

23,500 

 

517,000 

Alexion Pharmaceuticals, Inc.* (a) 

 

64,700 

 

2,212,740 

Allos Therapeutics, Inc.*  

 

90,600 

 

510,984 

Amgen, Inc.*  

 

97,500 

 

4,770,675 

Biogen Idec, Inc.*  

 

66,495 

 

3,061,430 

BioMarin Pharmaceutical, Inc.* (a) 

 

102,100 

 

1,225,200 

Celera Corp.*  

 

81,100 

 

521,473 

Celgene Corp.*  

 

84,458 

 

3,777,806 

Cepheid, Inc.*  

 

43,000 

 

287,240 

 

 

 

Gen-Probe, Inc.*  

 

28,300 

 

1,148,131 

Genentech, Inc.*  

 

55,600 

 

4,756,580 

Genmab A/S* (a) 

 

10,600 

 

404,154 

Genzyme Corp.*  

 

87,800 

 

5,349,654 

Gilead Sciences, Inc.*  

 

131,500 

 

5,891,200 

Human Genome Sciences, Inc.*  

 

130,500 

 

246,645 

Illumina, Inc.* (a) 

 

47,500 

 

1,488,175 

Incyte Corp.* (a) 

 

126,400 

 

291,984 

OSI Pharmaceuticals, Inc.*  

 

13,300 

 

453,530 

Regeneron Pharmaceuticals, Inc.*  

 

44,900 

 

639,825 

Rigel Pharmaceuticals, Inc.*  

 

28,300 

 

148,292 

United Therapeutics Corp.* (a) 

 

13,600 

 

912,696 

Vertex Pharmaceuticals, Inc.*  

 

17,100 

 

516,933 

 

**39,132,347**

**Health Care Services 17.1%**

 
Aetna, Inc.  

 

88,600 

 

2,114,882 

Allscripts-Misys Healthcare Solutions, Inc. (a) 

 

107,700 

 

936,990 

Cardinal Health, Inc.  

 

43,100 

 

1,398,595 

Cerner Corp.* (a) 

 

21,700 

 

794,220 

Covance, Inc.*  

 

23,100 

 

877,338 

CVS Caremark Corp.  

 

85,285 

 

2,195,236 

Express Scripts, Inc.*  

 

39,400 

 

1,981,820 

Fresenius Medical Care AG & Co. KGaA  

 

62,523 

 

2,575,005 

Laboratory Corp. of America Holdings*  

 

42,300 

 

2,326,923 

McKesson Corp.  

 

39,800 

 

1,632,596 

Medco Health Solutions, Inc.*  

 

61,152 

 

2,481,548 

Pharmaceutical Product Development, Inc.  

 

38,000 

 

911,620 

Quest Diagnostics, Inc.  

 

62,700 

 

2,873,541 

UnitedHealth Group, Inc. (a) 

 

96,720 

 

1,900,548 

 

**25,000,862**

**Life Sciences Equipment 5.8%**

 
Charles River Laboratories International, Inc.*  

 

30,400 

 

753,920 

Life Technologies Corp.*  

 

56,717 

 

1,653,301 

Mettler-Toledo International, Inc.*  

 

22,100 

 

1,178,151 

Thermo Fisher Scientific, Inc.*  

 

133,400 

 

4,837,084 

 

**8,422,456**

**Medical Supply & Specialty 20.4%**

 
Alcon, Inc.  

 

21,600 

 

1,778,976 

Baxter International, Inc.  

 

129,000 

 

6,567,390 

Beckman Coulter, Inc.  

 

17,400 

 

780,216 

Becton, Dickinson & Co.  

 

71,900 

 

4,449,891 

C.R. Bard, Inc.  

 

40,700 

 

3,266,582 

Covidien Ltd.  

 

111,500 

 

3,531,205 

Hologic, Inc.*  

 

66,800 

 

756,176 

Masimo Corp.*  

 

31,800 

 

794,682 

Medtronic, Inc.  

 

91,000 

 

2,692,690 

ResMed, Inc.*  

 

25,700 

 

947,816 

Stryker Corp. (a) 

 

58,300 

 

1,962,961 

Wright Medical Group, Inc.*  

 

33,500 

 

489,435 

Zimmer Holdings, Inc.*  

 

53,200 

 

1,863,064 

 

**29,881,084**

**Pharmaceuticals 26.3%**

 
Abbott Laboratories  

 

81,400 

 

3,853,476 

Allergan, Inc.  

 

51,200 

 

1,983,488 

 

 

 

Astellas Pharma, Inc.  

 

53,800 

 

1,785,717 

Bristol-Myers Squibb Co.  

 

168,500 

 

3,102,085 

Cardiome Pharma Corp.*  

 

58,600 

 

224,438 

Johnson & Johnson  

 

82,500 

 

4,125,000 

Merck & Co., Inc.  

 

79,700 

 

1,928,740 

Merck KGaA  

 

24,314 

 

1,824,374 

Mylan, Inc.* (a) 

 

246,500 

 

3,063,995 

Novartis AG (Registered) (a) 

 

45,492 

 

1,655,694 

Pfizer, Inc. (a) 

 

165,850 

 

2,041,613 

Roche Holding AG (Genusschein)  

 

37,545 

 

4,257,859 

Schering-Plough Corp. (a) 

 

165,200 

 

2,872,828 

Shire PLC (ADR)  

 

45,300 

 

1,606,338 

Wyeth  

 

88,300 

 

3,604,406 

XenoPort, Inc.*  

 

26,100 

 

545,229 

 

**38,475,280**

**Total Common Stocks** (Cost $144,353,624)

 

**140,912,029**

 

**Securities Lending Collateral 11.5%**

 
Daily Assets Fund Institutional, 1.05% (b) (c)(Cost $16,872,292)

 

 

16,872,292

 

**16,872,292**

 

**Cash Equivalents 2.8%**

 
Cash Management QP Trust, 0.85% (b)(Cost $4,043,482)

 

 

4,043,482

 

**4,043,482**

 

**% of****Net Assets**

 

**Value ($)**

**Total Investment Portfolio** (Cost $165,269,398) †

110.6

 

**161,827,803**

**Other Assets and Liabilities, Net**(a)

(10.6)

 

**(15,559,068)**

**Net Assets**

100.0

 

**146,268,735**

*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.*

***

*Non-income producing security.*

*†*

*The cost for federal income tax purposes was $165,979,075.  At February 28, 2009, net unrealized depreciation for all securities based on tax cost was $4,151,272. This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $23,628,605 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $27,779,877.*

*(a)*

*All or a portion of these securities were on loan amounting to 15,657,128. In addition, included in other assets and liabilities, net is a pending sale, amounting to $124,579, that is also on loan. The value of all securities loaned at February 28, 2009 amounted to $15,781,707 which is 10.8% of net assets.*

*(b)*

*Affiliated fund managed by Deutsche Investment Management Americas Inc.  The rate shown is the annualized seven-day yield at period end.*

*(c)*

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

*ADR: American Depositary Receipt*

 

***Fair Value Measurements***

 

*Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, “Fair Value Measurements,” establishes a three-tier hierarchy for measuring fair value and requires additional disclosure about the classification of 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 inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.*

*The following is a summary of the inputs used as of February 28, 2009 in valuing the Fund's investments. Please see below for information on the Fund’s policy regarding valuation inputs, and their aggregate levels used in the table below:*

 

**Valuation Inputs**

**Investments in  Securities**

Level 1 

$              145,281,518   

Level 2 

16,546,285   

Level 3 

-   

**Total**

**$              161,827,803**

 

 

 

**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: 

DWS Health Care Fund, a series of DWS Securities Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

April 22, 2009

 

 

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: 

DWS Health Care Fund, a series of DWS Securities Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

April 22, 2009

 

 

By:

/s/Paul Schubert

 

Paul Schubert

Chief Financial Officer and Treasurer

 

Date:                                        April 22, 2009

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