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            811-8606

DWS Target Date Series (formerly DWS Allocation Series)

(Exact name of registrant as specified in            charter)

 

Two            International Place

Boston, MA 02110

(Address of principal executive offices)                        (Zip code)

 

Paul Schubert

345 Park Avenue

New York, NY 10154

(Name and address of agent for            service)

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

Date of fiscal year end:08/31

Date of reporting            period:11/30/07

 

ITEM 1.            SCHEDULE OF INVESTMENTS

 

| Investment Portfolio | **as of November 30, 2007 (Unaudited)** |
|----------------------|-----------------------------------------|

             

 

**DWS            LifeCompass Retirement Fund**

(formerly DWS Conservative Allocation Fund)

 

|                                                                             | **Shares**             |    | **Value                            ($)** |
|----------------------------------------------------------------------------------|------------------------|---------|------------------------------------------|
|                                                                                  |
|                                                                             | **Equity Funds 34.9%** |    |
| DWS Blue Chip Fund "Institutional"                                               |                   | 51,209  |                                     | 1,137,865 |
| DWS Capital Growth Fund "Institutional"                                          |                   | 367     |                                     | 20,796 |
| DWS Commodity Securities Fund                            "Institutional"         |                   | 1,160   |                                     | 17,171 |
| DWS Communications Fund "Institutional"                                          |                   | 8,559   |                                     | 214,496 |
| DWS Disciplined Long/Short Value Fund                            "Institutional" |                   | 109,373 |                                     | 1,104,671 |
| DWS Dreman Concentrated Value Fund                            "Institutional"    |                   | 29,307  |                                     | 360,771 |
| DWS Dreman High Return Equity Fund                            "Institutional"    |                   | 14,396  |                                     | 724,839 |
| DWS Dreman Mid Cap Value Fund                            "Institutional"         |                   | 47,141  |                                     | 596,332 |
| DWS Dreman Small Cap Value Fund                            "Institutional"       |                   | 5,584   |                                     | 221,310 |
| DWS Equity 500 Index Fund "Institutional"                                        |                   | 102,396 |                                     | 17,224,064 |
| DWS Equity Partners Fund "Institutional"                                         |                   | 100,562 |                                     | 3,044,001 |
|                                                                                  |                        |         |                                          |  |  |  |  |

 

 

 

| DWS Europe Equity Fund "Institutional"                                                  |                                                                                                                                                                                                                                                                                           | 129,767        |                                     | 5,394,420  |
|-----------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|------------------------------------------|------------|
| DWS Global Thematic Fund "S"                                                            |                                                                                                                                                                                                                                                                                           | 60,411         |                                     | 2,187,498  |
| DWS Growth & Income Fund                            "Institutional"                 |                                                                                                                                                                                                                                                                                           | 130,008        |                                     | 2,913,468  |
| DWS Health Care Fund "Institutional"                                                    |                                                                                                                                                                                                                                                                                           | 34,034         |                                     | 987,327    |
| DWS International Fund "Institutional"                                                  |                                                                                                                                                                                                                                                                                           | 3,618          |                                     | 260,181    |
| DWS International Select Equity Fund                            "Institutional"         |                                                                                                                                                                                                                                                                                           | 57,771         |                                     | 788,577    |
| DWS International Value Opportunities Fund                            "Institutional"   |                                                                                                                                                                                                                                                                                           | 79,326         |                                     | 1,056,626  |
| DWS Japan Equity Fund "S"                                                               |                                                                                                                                                                                                                                                                                           | 1,011          |                                     | 14,806     |
| DWS Large Cap Value Fund "Institutional"                                                |                                                                                                                                                                                                                                                                                           | 259,909        |                                     | 6,383,376  |
| DWS Large Company Growth Fund                            "Institutional"                |                                                                                                                                                                                                                                                                                           | 73,820         |                                     | 2,263,319  |
| DWS Micro Cap Fund "Institutional"                                                      |                                                                                                                                                                                                                                                                                           | 10,591         |                                     | 205,986    |
| DWS RREEF Global Real Estate Securities Fund                            "Institutional" |                                                                                                                                                                                                                                                                                           | 36,934         |                                     | 429,910    |
| DWS RREEF Real Estate Securities Fund                            "Institutional"        |                                                                                                                                                                                                                                                                                           | 11,426         |                                     | 267,597    |
| DWS Small Cap Core Fund "S"                                                             |                                                                                                                                                                                                                                                                                           | 96,609         |                                     | 2,017,190  |
| DWS Small Cap Growth Fund "Institutional"                                               |                                                                                                                                                                                                                                                                                           | 8,314          |                                     | 205,191    |
| DWS Small Cap Value Fund "S"                                                            |                                                                                                                                                                                                                                                                                           | 36,733         |                                     | 752,286    |
| DWS Technology Fund "Institutional"                                                     |                                                                                                                                                                                                                                                                                           | 69,894         |                                     | 958,948    |
|                                                                                         |
| **Total Equity Funds**(Cost                            $44,949,741)                     |                                                                                                                                                                                                                                                                                           | **51,753,022** |
|                                                                                    | **Fixed Income – Bond Funds                            56.0%**                                                                                                                                                                                                                           |           |
| DWS Core Fixed Income Fund "Institutional"                                              |                                                                                                                                                                                                                                                                                           | 5,525,620      |                                     | 59,400,419 |
| DWS Core Plus Income Fund "Institutional"                                               |                                                                                                                                                                                                                                                                                           | 154            |                                     | 1,930      |
| DWS Emerging Markets Fixed Income Fund "S"                                              |                                                                                                                                                                                                                                                                                           | 15,479         |                                     | 188,687    |
| DWS Floating Rate Plus Fund                            "Institutional"                  |                                                                                                                                                                                                                                                                                           | 867,426        |                                     | 8,327,286  |
| DWS Global Bond Fund "S"                                                                |                                                                                                                                                                                                                                                                                           | 951            |                                     | 9,594      |
| DWS GNMA Fund "S"                                                                       |                                                                                                                                                                                                                                                                                           | 95,362         |                                     | 1,417,076  |
| DWS High Income Fund "Institutional"                                                    |                                                                                                                                                                                                                                                                                           | 722,695        |                                     | 3,678,516  |
| DWS High Income Plus Fund "Institutional"                                               |                                                                                                                                                                                                                                                                                           | 108,925        |                                     | 794,062    |
| DWS Inflation Protected Plus Fund                            "Institutional"            |                                                                                                                                                                                                                                                                                           | 762,958        |                                     | 7,927,130  |
| DWS Short Duration Fund "Institutional"                                                 |                                                                                                                                                                                                                                                                                           | 688            |                                     | 6,838      |
| DWS Short Duration Plus Fund "S"                                                        |                                                                                                                                                                                                                                                                                           | 131,852        |                                     | 1,311,927  |
|                                                                                         |
| **Total Fixed Income – Bond Funds**(Cost $82,684,891)                             |                                                                                                                                                                                                                                                                                           | **83,063,465** |
|                                                                                    | **Fixed Income - Money Market Funds                            9.3%**                                                                                                                                                                                                                          |           |
| Cash Management QP Trust                                                                |                                                                                                                                                                                                                                                                                           | 13,717,969     |                                     | 13,717,969 |
| DWS Money Market Prime Series                                                           |                                                                                                                                                                                                                                                                                           | 7,805          |                                     | 7,805      |
| DWS Money Market Series "Institutional"                                                 |                                                                                                                                                                                                                                                                                           | 19,181         |                                     | 19,181     |
|                                                                                         |
| **Total Fixed Income - Money Market Funds**(Cost $13,744,955)                           |                                                                                                                                                                                                                                                                                           | **13,744,955** |
|                                                                                    | **% of**

**Net                            Assets**                                                                                                                                                                                                                                            |           | **Value                            ($)** |
|                                                                                         |
| **Total Investment Portfolio**(Cost $141,379,587)                                       | 100.2                                                                                                                                                                                                                                                                                          |           | **148,561,442**                          |
| **Other Assets and Liabilities, Net**                                                   | (0.2)                                                                                                                                                                                                                                                                                          |           | **(227,077)**                            |
|                                                                                         |
| **Net Assets**                                                                          | 100.0                                                                                                                                                                                                                                                                                          |           | **148,334,365**                          |
|                                                                                    | *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.* |
|                                                                                         |                                                                                                                                                                                                                                                                                                |                |                                          |            |  |  |  |  |  |

 

 

| **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 half-year                            (the registrant’s second fiscal half-year in the case of the                            annual report) 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 LifeCompass Retirement Fund, a series of DWS Target                            Date Series |
|-------------|------------------------------------------------------------------------------------------------|

 

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

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

President

 

| Date: | January 16, 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: | DWS LifeCompass Retirement Fund, a series of DWS Target                            Date Series |
|-------------|------------------------------------------------------------------------------------------------|

 

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

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

President

 

| Date: | January 16, 2008 |
|-------|------------------|

 

 

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

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

Chief Financial Officer and Treasurer

 

| Date: | January 16, 2008 |
|-------|------------------|