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 Climate Change Fund**

 

 

|   | **Shares**              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | **Value ($)** |
|--------|-------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|
|        |
|   | **Common Stocks 89.1%** |  
**Austria 2.3%**

 
Andritz AG  

 

20,497 

 

587,349 

Oesterreichische Elektrizitaetswirtschafts AG (Verbund) "A"  

 

21,376 

 

662,037 

(Cost $3,037,226)

 

**1,249,386**

**Belgium 0.6%**

 
Umicore  (Cost $496,876)

 

21,250 

 

**322,025**

**Canada 5.6%**

 
Canadian Hydro Developers, Inc.*  

 

210,258 

 

434,663 

Canadian National Railway Co.  

 

15,454 

 

496,345 

Potash Corp. of Saskatchewan, Inc.  

 

20,850 

 

1,750,775 

 

 

 

Viterra, Inc.*  

 

48,140 

 

382,940 

(Cost $3,887,318)

 

**3,064,723**

**Denmark 2.2%**

 
Vestas Wind Systems AS*  (Cost $1,261,960)

 

26,860 

 

**1,174,470**

**Finland 0.8%**

 
Fortum Oyj  (Cost $621,326)

 

26,750 

 

**462,807**

**France 4.2%**

 
Alstom SA  

 

17,939 

 

854,625 

Nexans SA  

 

15,260 

 

593,226 

Saft Groupe SA  

 

20,170 

 

463,917 

Schneider Electric SA  

 

5,908 

 

356,217 

(Cost $3,715,751)

 

**2,267,985**

**Germany 12.4%**

 
BASF SE  

 

20,000 

 

554,832 

Bayer AG  

 

12,527 

 

603,328 

K+S AG  

 

12,262 

 

552,144 

Linde AG  

 

16,500 

 

1,065,191 

Q-Cells SE*  

 

31,465 

 

521,962 

SGL Carbon SE*  

 

21,085 

 

470,491 

Siemens AG (Registered)  

 

21,281 

 

1,084,568 

SMA Solar Technology AG*  

 

7,630 

 

299,117 

Solarworld AG  

 

62,885 

 

1,097,210 

Vossloh AG  

 

5,272 

 

498,777 

(Cost $8,269,800)

 

**6,747,620**

**Greece 0.5%**

 
Terna Energy SA  (Cost $601,962)

 

51,176 

 

**255,132**

**Ireland 0.5%**

 
Kingspan Group PLC  (Cost $586,374)

 

89,935 

 

**251,786**

**Japan 0.5%**

 
Daikin Industries Ltd.  (Cost $662,212)

 

12,910 

 

**281,268**

**Netherlands 1.2%**

 
Ballast Nedam NV (CVA)  

 

20,758 

 

366,927 

Imtech NV  

 

14,700 

 

188,189 

Koninklijke Boskalis Westminster NV (CVA)  

 

5,877 

 

113,016 

(Cost $1,380,844)

 

**668,132**

**Norway 2.1%**

 
Yara International ASA  (Cost $1,241,528)

 

52,750 

 

**1,125,091**

**Portugal 1.3%**

 
EDP - Energias de Portugal SA  (Cost $1,250,031)

 

227,529 

 

**722,276**

**Spain 3.9%**

 
Acciona SA  

 

2,686 

 

266,570 

EDP Renovaveis SA*  

 

22,000 

 

161,941 

Gamesa Corp. Tecnologica SA  

 

75,433 

 

1,005,886 

Iberdrola Renovables*  

 

172,200 

 

700,294 

(Cost $4,095,673)

 

**2,134,691**

**Switzerland 6.6%**

 
ABB Ltd. (Registered)*  

 

99,434 

 

1,201,951 

 

 

 

BKW FMB Energie AG  

 

7,436 

 

536,154 

Sulzer AG (Registered)  

 

7,529 

 

293,406 

Syngenta AG (Registered)  

 

7,395 

 

1,573,878 

(Cost $4,402,335)

 

**3,605,389**

**United Kingdom 3.6%**

 
AMEC PLC  

 

35,500 

 

275,920 

Johnson Matthey PLC  

 

24,000 

 

335,702 

PV Crystalox Solar PLC  

 

139,795 

 

170,314 

Rotork PLC  

 

24,473 

 

250,241 

RPS Group PLC  

 

232,331 

 

429,307 

SIG PLC  

 

100,288 

 

184,586 

The Weir Group PLC  

 

67,441 

 

333,551 

(Cost $5,002,445)

 

**1,979,621**

**United States 40.8%**

 
Air Products & Chemicals, Inc.  

 

6,050 

 

279,812 

Altair Nanotechnologies, Inc.*  

 

58,429 

 

47,327 

American Superconductor Corp.*  

 

37,116 

 

499,581 

Archer-Daniels-Midland Co.  

 

11,600 

 

309,256 

Calgon Carbon Corp.*  

 

40,330 

 

590,834 

CLARCOR, Inc.  

 

15,502 

 

408,633 

Cooper Industries Ltd. "A"  

 

15,361 

 

323,963 

Covanta Holding Corp.*  

 

41,468 

 

631,558 

Cree, Inc.*  

 

13,807 

 

271,169 

Donaldson Co., Inc.  

 

9,893 

 

241,488 

Emerson Electric Co.  

 

57,236 

 

1,531,063 

Ener1, Inc.*  

 

21,400 

 

66,982 

Energy Recovery, Inc.*  

 

74,990 

 

473,187 

Entergy Corp.  

 

4,501 

 

303,322 

First Solar, Inc.*  

 

11,135 

 

1,177,415 

Fluor Corp.  

 

13,858 

 

460,778 

Fuel Tech, Inc.*  

 

19,100 

 

176,484 

FuelCell Energy, Inc.*  

 

59,997 

 

165,592 

General Cable Corp.*  

 

35,000 

 

540,050 

ITC Holdings Corp.  

 

19,456 

 

718,510 

Itron, Inc.*  

 

13,200 

 

589,512 

ITT Corp.  

 

7,200 

 

268,920 

Jacobs Engineering Group, Inc.*  

 

6,250 

 

210,875 

Johnson Controls, Inc.  

 

41,554 

 

472,885 

Kaydon Corp.  

 

12,864 

 

321,600 

Layne Christensen Co.*  

 

15,550 

 

252,999 

Monsanto Co.  

 

14,580 

 

1,112,017 

MYR Group, Inc.*  

 

20,000 

 

268,400 

Northwest Pipe Co.*  

 

14,700 

 

400,575 

Ormat Technologies, Inc.  

 

11,000 

 

282,590 

PG&E Corp.  

 

7,840 

 

299,645 

Plum Creek Timber Co., Inc. (REIT)  

 

35,038 

 

919,047 

Power Integrations, Inc.  

 

32,265 

 

592,063 

Quanta Services, Inc.*  

 

23,500 

 

413,600 

Rayonier, Inc.  

 

33,221 

 

883,679 

Schlumberger Ltd.  

 

11,300 

 

430,078 

Schnitzer Steel Industries, Inc. "A"  

 

15,800 

 

452,512 

Shaw Group, Inc.*  

 

25,291 

 

590,292 

SunPower Corp. "B"*  

 

16,700 

 

413,492 

Tetra Tech, Inc.*  

 

63,373 

 

1,419,555 

 

 

 

The Mosaic Co.

 

9,600 

 

413,280 

United Technologies Corp.  

 

35,408 

 

1,445,709 

Waste Management, Inc.  

 

21,000 

 

567,000 

(Cost $33,569,810)

 

**22,237,329**

**Total Common Stocks** (Cost $74,083,471)

 

**48,549,731**

 

**Cash Equivalents 10.1%**

 
Cash Management QP Trust, 0.85% (a)(Cost $5,488,768)

 

 

5,488,768

 

**5,488,768**

 

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

 

**Value ($)**

**Total Investment Portfolio** (Cost $79,572,239) †

99.2

 

**54,038,499**

**Other Assets and Liabilities, Net**

0.8

 

**426,579**

**Net Assets**

100.0

 

**54,465,078**

*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 $80,296,729.  At February 28, 2009, net unrealized depreciation for all securities based on tax cost was $26,258,230.  This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $714,371 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $26,972,601.*

*(a)*

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

*CVA: Certificaten Van Aandelen*

*REIT: Real Estate Investment Trust*

*At February 28, 2009, the DWS Climate Change Fund had the following sector diversification:*

**Sector**

**Market Value ($)**

 

**As a % of**

**Common Stocks**

Industrials

 

26,588,252

 

54.8

**%**

Materials

 

10,175,420

 

21.0

**%**

Utilities

 

5,805,941

 

12.0

**%**

Financials

 

1,802,726

 

3.7

**%**

Information Technology

 

1,702,985

 

3.5

**%**

Energy

 

705,998

 

1.4

**%**

Consumer Staples

 

692,196

 

1.4

**%**

Health Care

 

603,328

 

1.2

**%**

Consumer Discretionary

 

472,885

 

1.0

**%**

**Total**

 

**48,549,731**

 

**100.0**

**%**

 

 

 

***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 

$                 25,302,052   

Level 2 

28,736,447   

Level 3 

-   

**Total**

**$                 54,038,499**

 

 

 

**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 Climate Change 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 Climate Change 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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