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  10154-0004

(Address of principal executive offices)             (Zip code)

 

Paul Schubert

345 Park Avenue

New York, NY  10154-0004

(Name and address of agent for service)

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

Date of fiscal year end:  05/31

Date of reporting period: 02/29/08

 

ITEM 1.  SCHEDULE OF INVESTMENTS

 

| Investment Portfolio | **as of February 29, 2008  (Unaudited)** |
|----------------------|------------------------------------------|

 

 

**DWS Climate Change Fund**

 

|   | **Shares**              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | **Value ($)** |
|--------|-------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|
|        |
|   | **Common Stocks 85.3%** |  
**Austria 3.3%**

 
Andritz AG  

 

8,841 

 

493,333 

Oesterreichische Elektrizitaetswirtschafts AG "A"  

 

22,536 

 

1,663,260 

(Cost $1,996,441)

**2,156,593**

**Belgium 1.6%**

 
Umicore  (Cost****$959,275)

 

21,475 

 

**1,092,952**

**Brazil 0.6%**

 
Companhia Energetica de Minas Gerais (ADR) (Preferred)  (Cost****$406,488)

 

21,744 

 

**413,788**

**Canada 2.1%**

 
Canadian Hydro Developers, Inc.*  

 

88,684 

 

508,182 

Canadian National Railway Co.  

 

10,679 

 

564,737 

 

 

 

 

Potash Corp. of Saskatchewan, Inc.  

 

1,966 

 

312,397 

(Cost $1,359,026)

**1,385,316**

**China 0.9%**

 
Yingli Green Energy Holding Co., Ltd. (ADR)* (Cost****$836,958) 

 

35,680 

 

**601,922**

**Denmark 2.3%**

 
Rockwool International AS "B"  

 

2,273 

 

397,527 

Vestas Wind Systems AS*  

 

10,920 

 

1,113,590 

(Cost $1,527,505)

**1,511,117**

**Finland 0.5%**

 
Wartsila Oyj "B"  (Cost****$367,578)

 

5,176 

 

**353,130**

**France 8.1%**

 
Alstom  

 

5,071 

 

1,063,071 

Compagnie de Saint-Gobain  

 

14,464 

 

1,137,308 

Nexans SA  

 

6,386 

 

699,228 

Schneider Electric SA  

 

10,664 

 

1,212,792 

Veolia Environnement  

 

13,854 

 

1,233,091 

(Cost $5,720,293)

**5,345,490**

**Germany 12.2%**

 
Aixtron AG*  

 

50,230 

 

654,446 

Bayer AG  

 

13,365 

 

1,017,669 

Continental AG  

 

7,674 

 

748,135 

Nordex AG*  

 

13,902 

 

489,585 

Q-Cells AG*  

 

12,504 

 

995,921 

SGL Carbon AG*  

 

10,917 

 

598,641 

Siemens AG (Registered)  

 

5,820 

 

742,886 

Solarworld AG  

 

34,796 

 

1,551,654 

Vossloh AG  

 

3,293 

 

458,825 

Wacker Chemie AG  

 

4,004 

 

854,948 

(Cost $9,274,200)

**8,112,710**

**Greece 0.3%**

 
Terna Energy SA*  (Cost****$230,686)

 

17,406 

 

**170,652**

**Italy 0.5%**

 
Fiat SpA  (Cost****$429,380)

 

17,324 

 

**363,571**

**Japan 1.4%**

 
Daikin Industries Ltd.  

 

8,810 

 

394,167 

NGK Insulators Ltd.  

 

3,200 

 

72,571 

Toyota Motor Corp.  

 

8,700 

 

473,478 

(Cost $1,017,266)

**940,216**

**Netherlands 2.6%**

 
Ballast Nedam NV (CVA)  

 

9,202 

 

345,600 

Grontmij NV (CVA)  

 

4,220 

 

142,060 

Koninklijke (Royal) Philips Electronics NV  

 

10,289 

 

402,105 

Koninklijke Boskalis Westminster NV (CVA)  

 

14,538 

 

803,321 

(Cost $1,759,891)

**1,693,086**

**Portugal 1.3%**

 
EDP - Energias de Portugal SA  (Cost****$966,217)

 

151,954 

 

**886,921**

**Spain 6.9%**

 
Acciona SA  

 

4,577 

 

1,161,632 

 

 

 

 

Gamesa Corporacion Tecnologica SA  

 

40,987 

 

1,663,924 

Iberdrola SA  

 

69,563 

 

1,004,106 

Iberdrola Renovables*  

 

120,287 

 

737,224 

(Cost $5,117,442)

**4,566,886**

**Switzerland 4.7%**

 
ABB Ltd. (Registered)  

 

62,909 

 

1,569,486 

BKW FMB Energie AG  

 

3,159 

 

386,016 

Sulzer AG (Registered)  

 

467 

 

537,091 

Syngenta AG (Registered)  

 

2,201 

 

631,185 

(Cost $3,145,069)

**3,123,778**

**United Kingdom 6.7%**

 
Johnson Mathey PLC  

 

11,760 

 

451,563 

PV Crystalox Solar PLC*  

 

102,678 

 

265,279 

Rotork PLC  

 

13,209 

 

259,885 

RPS Group PLC  

 

167,508 

 

980,631 

Scottish & Southern Energy PLC  

 

30,438 

 

891,941 

SIG PLC  

 

37,861 

 

621,469 

Tanfield Group PLC*  

 

478,295 

 

974,201 

(Cost $4,743,392)

**4,444,969**

**United States 29.3%**

 
Altair Nanotechnologies, Inc.*  

 

73,168 

 

218,041 

American Superconductor Corp.*  

 

18,666 

 

421,665 

Applied Materials, Inc.  

 

65,515 

 

1,255,923 

BorgWarner, Inc.  

 

19,067 

 

821,978 

CLARCOR, Inc.  

 

9,941 

 

355,888 

Cooper Industries Ltd. "A"  

 

7,200 

 

301,896 

Covanta Holding Corp.*  

 

27,819 

 

797,849 

Cree, Inc.*  

 

24,710 

 

763,539 

Donaldson Co., Inc.  

 

9,875 

 

416,330 

E.I. du Pont de Nemours & Co.  

 

9,831 

 

456,355 

EMCORE Corp.*  

 

7,997 

 

88,367 

Emerson Electric Co.  

 

31,522 

 

1,606,361 

Entergy Corp.  

 

4,603 

 

472,912 

FCStone Group, Inc.*  

 

13,755 

 

641,533 

FPL Group, Inc.  

 

6,925 

 

417,508 

Fuel Tech, Inc.*  

 

22,997 

 

461,550 

FuelCell Energy, Inc.*  

 

39,582 

 

283,407 

ITC Holdings Corp.  

 

11,674 

 

622,224 

Johnson Controls, Inc.  

 

40,340 

 

1,325,572 

Kaydon Corp.  

 

7,997 

 

341,552 

Lindsay Corp.  

 

6,282 

 

493,891 

PG&E Corp.  

 

31,950 

 

1,203,237 

Plum Creek Timber Co., Inc.  

 

21,257 

 

864,947 

Power Integrations, Inc.*  

 

14,956 

 

393,343 

Rayonier, Inc.  

 

15,495 

 

659,312 

Shaw Group, Inc.*  

 

10,116 

 

651,268 

SunPower Corp. "A"*  

 

5,261 

 

345,753 

Tenneco, Inc.*  

 

11,965 

 

302,116 

Tetra Tech, Inc.*  

 

17,182 

 

324,224 

United Technologies Corp.  

 

16,701 

 

1,177,588 

Valmont Industries, Inc.  

 

12,081 

 

965,272 

(Cost $20,501,105)

**19,451,401**

**Total Common Stocks** (Cost $60,358,212)

 

**56,614,498**

 

 

 

 

 

**Cash Equivalents 7.8%**

 
Cash Management QP Trust, 3.89%  (a)(Cost $5,193,388)

 

 

5,193,388

 

**5,193,388**

 

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

 

**Value ($)**

**Total Investment Portfolio** (Cost $65,551,600) †

93.1

 

**61,807,886**

**Other Assets and Liabilities, Net**

6.9

 

**4,568,312**

**Net Assets**

100.0

 

**66,376,198**

 

*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 financial statements.*

*†*

*The cost for federal income tax purposes was $65,551,600.  At February 29, 2008, net unrealized depreciation for all securities based on tax cost was $3,743,714.  This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $1,021,280 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $4,764,994.*

***

*Non-income producing security.*

*(a)*

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

*ADR: American Depositary Receipt*

*CVA: Certificaten Van Aandelen*

 

*At February 29, 2008, the DWS Climate Change Fund had the following sector diversification:*

* *

* *

* *

* *

***As a % of Common*****

* *

* *

***Sector*****

***Market Value ($)*****

* *

***Stocks*****

* *

*Industrials***

* *

*31,352,181***

* *

*55.4***

*%***

* *

*Utilities***

* *

*10,611,062***

* *

*18.8***

*%***

* *

*Materials***

* *

*5,035,110***

* *

*8.9***

*%***

* *

*Consumer Discretionary***

* *

*4,034,850***

* *

*7.1***

*%***

* *

*Information Technology***

* *

*3,415,503***

* *

*6.0***

*%***

* *

*Financials***

* *

*2,165,792***

* *

*3.8***

*%***

* *

***Total Common Stocks*****

***56,614,498*****

* *

***100.0*****

***%*****

* *

 

 

**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 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 Climate Change Fund, a series of DWS Securities Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

April 16, 2008

 

 

By:

/s/Paul Schubert

 

Paul Schubert

Chief Financial Officer and Treasurer

 

Date:                                        April 16, 2008

 

  |