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  811-4049

DWS Income 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:  09/30

Date of reporting period: 06/30/08

 

ITEM 1.  SCHEDULE OF INVESTMENTS

 

| Investment Portfolio | **as of June 30, 2008  (Unaudited)** |
|----------------------|--------------------------------------|

 

 

**DWS GNMA Fund**

 

|   | **Principal****Amount ($)**                        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | **Value ($)** |
|--------|----------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|
|        |
|   | **Government National Mortgage Association 87.1%** |  
Government National Mortgage Association:

 
 

5.0%, with various maturities from 5/20/2019 until 6/15/2038 (a) (e)

 

 

437,721,690 

 

424,951,832 

 

5.5%, with various maturities from 7/20/2013 until 6/15/2038 (a) (e)

 

 

690,722,462 

 

689,026,167 

 

6.0%, with various maturities from 7/15/2014 until 6/15/2038 (a) (e)

 

 

599,238,414 

 

609,936,243 

 

6.5%, with various maturities from 8/15/2008 until 3/15/2038 (a)

 

 

174,241,415 

 

180,720,466 

 

7.0%, with various maturities from 9/15/2008 until 2/20/2038 

 

 

38,225,728 

 

40,353,430 

 

7.5%, with various maturities from 6/15/2009 until 1/15/2037 

 

 

36,818,793 

 

39,177,686 

 

8.0%, with various maturities from 8/20/2012 until 9/20/2013 

 

 

91,365 

 

95,832 

 

9.0%, with various maturities from 2/15/2020 until 7/15/2030 

 

 

1,203,873 

 

1,334,511 

 

10.5%, with various maturities from 10/20/2016 until 1/20/2021 

 

 

399,189 

 

456,516 

 

11.5%, with various maturities from 4/15/2013 until 2/15/2016 

 

 

95,473 

 

108,432 

 

12.0%, with various maturities from 12/15/2012 until 7/15/2015 

 

 

352,559 

 

406,122 

 

 

 

 

 

12.5%, with various maturities from 5/15/2010 until 8/15/2015 

 

 

201,766 

 

230,785 

 

13.0%, 5/15/2015 

 

 

5,465 

 

6,376 

 

13.5%, with various maturities from 11/15/2012 until 9/15/2014 

 

 

36,986 

 

43,107 

 

14.0%, 7/15/2011 

 

 

19,155 

 

20,933 

 

14.5%, 10/15/2014 

 

 

25,616 

 

29,897 

 

16.0%, 2/15/2012 

 

 

15,989 

 

18,338 

**Total Government National Mortgage Association** (Cost $1,999,709,918)

 

**1,986,916,673**

 

**Collateralized Mortgage Obligations 15.9%**

 
Federal Home Loan Mortgage Corp.:

 
 

"PO", Series 3147, Principal Only, Zero Coupon, 4/15/2036 

 

 

11,718,027 

 

9,351,607 

 

"MO", Series 3171, Principal Only, Zero Coupon, 6/15/2036 

 

 

9,190,410 

 

6,829,421 

 

"AO", Series 3236, Principal Only, Zero Coupon, 11/15/2036 

 

 

5,395,508 

 

3,936,694 

 

"SL", Series 2882, Interest Only, 4.729% ***, 10/15/2034 

 

 

6,086,958 

 

619,235 

 

"GZ", Series 2906, 5.0%, 9/15/2034 

 

 

20,491,513 

 

17,474,433 

Federal National Mortgage Association:

 
 

"FC", Series 2006-123, 2.743% *, 1/25/2037 

 

 

6,460,938 

 

6,128,270 

 

"FA", Series 2005-87, 2.983% *, 10/25/2034 

 

 

10,362,085 

 

9,817,423 

 

"ZA", Series 2008-24, 5.0%, 4/25/2038 

 

 

15,188,282 

 

12,451,393 

 

"AN", Series 2007-108, 8.935% *, 11/25/2037 

 

 

17,543,635 

 

19,250,192 

Government National Mortgage Association:

 
 

"PO", Series 2002-69, Principal Only, Zero Coupon, 2/20/2032 

 

 

10,402,955 

 

8,574,537 

 

"CO", Series 2002-76, Principal Only, Zero Coupon, 3/22/2032 

 

 

2,568,239 

 

1,461,402 

 

"1", Series 1, Principal Only, Zero Coupon, 7/20/2034 

 

 

2,533,729 

 

1,881,331 

 

"JO", Series 2006-22, Principal Only, Zero Coupon, 4/20/2036 

 

 

8,525,421 

 

6,334,396 

 

"PO", Series 2007-58, Principal Only, Zero Coupon, 10/20/2037 

 

 

8,323,937 

 

6,988,986 

 

"FP", Series 2005-61, 2.691% *, 8/16/2035 

 

 

30,464,849 

 

28,847,306 

 

"FM", Series 2004-80, 2.782% *, 7/20/2034 

 

 

30,000,000 

 

29,151,225 

 

"FP", Series 2003-67, 3.382% *, 8/20/2033 

 

 

14,971,875 

 

14,588,441 

 

"SB", Series 2008-36, Interest Only, 3.788% ***, 4/20/2038 

 

 

34,653,304 

 

2,768,799 

 

"SP", Series 2005-61, Interest Only, 3.809% ***, 8/16/2035 

 

 

15,828,953 

 

1,181,220 

 

"PZ", Series 2004-74, 4.0%, 9/20/2034 

 

 

3,484,633 

 

2,770,733 

 

"NS", Series 2007-72,  Interest Only, 4.048% ***, 11/20/2037 

 

 

6,584,542 

 

419,412 

 

"ZC", Series 2003-86, 4.5%, 10/20/2033 

 

 

2,158,089 

 

1,851,921 

 

"GS", Series 2006-16,  Interest Only, 4.508% ***, 4/20/2036 

 

 

15,753,213 

 

1,473,423 

 

"KS", Series 2004-96,  Interest Only, 4.518% ***, 7/20/2034 

 

 

14,763,723 

 

1,378,743 

 

"SU", Series 2004-30, Interest Only, 4.718% ***, 2/20/2032 

 

 

23,003,517 

 

1,295,721 

 

"A1", Series 2008-36, Interest Only, 5.0%, 10/16/2022 

 

 

13,830,941 

 

1,868,420 

 

"GD", Series 2004-26, 5.0%, 11/16/2032 

 

 

21,000,000 

 

20,577,707 

 

"LG", Series 2003- 70, 5.0%, 8/20/2033 

 

 

5,000,000 

 

4,709,093 

 

"KE", Series 2004-19, 5.0%, 3/16/2034 

 

 

5,000,000 

 

4,531,729 

 

"PH", Series 2004-80, 5.0%, 7/20/2034 

 

 

11,000,000 

 

10,347,973 

 

"LE", Series 2004-87, 5.0%, 10/20/2034 

 

 

7,000,000 

 

6,422,719 

 

"ZB", Series 2005-15, 5.0%, 2/16/2035 

 

 

11,809,514 

 

10,398,924 

 

"GZ", Series 2005-44, 5.0%, 7/20/2035 

 

 

3,469,959 

 

2,957,783 

 

"CK", Series 2007-31, 5.0%, 5/16/2037 

 

 

9,000,000 

 

8,721,619 

 

"AI", Series 2008-40, Interest Only, 5.5%, 5/16/2023 

 

 

5,915,207 

 

937,608 

 

"PZ" Series 2003-25, 5.5%, 4/20/2033 

 

 

6,638,960 

 

6,161,047 

 

"TZ", Series 2003-85, 5.5%, 10/20/2033 

 

 

6,459,282 

 

5,991,680 

 

"PC", Series 2007-2, 5.5%, 6/20/2035 

 

 

11,510,346 

 

11,465,575 

 

"Z", Series 2005-96, 5.5%, 12/16/2035 

 

 

7,483,124 

 

6,933,197 

 

"PD", Series 2005-91, 5.5%, 12/20/2035 

 

 

5,000,000 

 

4,738,946 

 

"ZA", Series 2007-30, 5.5%, 5/16/2037 

 

 

5,325,351 

 

4,889,106 

 

"SJ", Series 1999-43,  Interest Only, 5.529% ***, 11/16/2029 

 

 

8,640,292 

 

875,550 

 

"IJ", Series 2007-53, Interest Only, 5.75%, 6/20/2035 

 

 

1,280,720 

 

191,935 

 

 

 

 

 

"ZB", Series 2005-65, 6.0%, 9/20/2032 

 

 

21,405,761 

 

21,575,626 

 

"PH" Series 2002- 84, 6.0%, 11/16/2032 

 

 

9,000,000 

 

9,013,329 

 

"PB", Series 2005-92, 6.0%, 12/20/2035 

 

 

8,000,000 

 

7,882,786 

 

"VB", Series 2002-49, 6.5%, 8/20/2017 

 

 

20,417 

 

20,384 

 

"PB", Series 2001-53, 6.5%, 11/20/2031 

 

 

4,500,000 

 

4,748,812 

 

"IO", Series 2006-61, Interest Only, 6.5%, 11/20/2036 

 

 

14,101,472 

 

3,449,515 

 

"ST", Series 2004-71, 7.0%, 9/20/2034 

 

 

6,119,479 

 

5,790,966 

**Total Collateralized Mortgage Obligations** (Cost $360,610,932)

 

**362,028,293**

 

**US Government Agency Sponsored Pass-Throughs 3.9%**

 
Federal Home Loan Mortgage Corp.:

 
 

5.48% *, 2/1/2037 

 

 

22,905,747 

 

23,283,004 

 

5.752% *, 12/1/2036 

 

 

9,380,097 

 

9,514,186 

 

5.849% *, 12/1/2036 

 

 

8,344,234 

 

8,475,982 

 

5.855% *, 1/1/2037 

 

 

18,996,626 

 

19,308,969 

Federal National Mortgage Association:

 
 

5.833% *, 9/1/2036 

 

 

9,138,235 

 

9,360,705 

 

5.948% *, 12/1/2036 

 

 

19,029,437 

 

19,529,264 

**Total US Government Agency Sponsored Pass-Throughs** (Cost $88,295,095)

 

**89,472,110**

 

**Government & Agency Obligations 4.0%**

 
**US Government Sponsored Agencies 1.1%**

 
Federal National Mortgage Association, 8.45% *, 2/27/2023 

 

 

25,000,000 

 

**25,000,000**

**US Treasury Obligations 2.9%**

 
US Treasury Bill, 1.08% **, 7/17/2008 (b)

 

 

4,233,000 

 

4,230,342 

US Treasury Note, 2.625%, 5/31/2010 (a) 

 

 

62,000,000 

 

62,038,750 

 

**66,269,092**

**Total Government & Agency Obligations** (Cost $91,277,681)

 

**91,269,092**

 

**Shares**

 

**Value ($)**

 

**Securities Lending Collateral 30.2%**

 
Daily Assets Fund Institutional, 2.74% (c) (d) (Cost $688,378,885)

 

 

688,378,885 

 

**688,378,885**

 

**Cash Equivalents 1.7%**

 
Cash Management QP Trust, 2.49%  (c)(Cost $40,187,900)

 

 

40,187,900

 

**40,187,900**

 

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

 

**Value ($)**

**Total Investment Portfolio** (Cost $3,268,460,411) †

142.8

 

**3,258,252,953**

**Other Assets and Liabilities, Net**

(42.8)

 

**(976,937,689)**

**Net Assets**

100.0

 

**2,281,315,264**

*For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.*

***

*Floating rate notes are securities whose yields vary with a designated market index or market rate, such as the coupon-equivalent of the US Treasury bill rate. These securities are shown at their current rate as of June 30, 2008.*

****

*Annualized yield at time of purchase; not a coupon rate.*

*****

*These securities are shown at their current rate as of June 30, 2008.*

*†*

*The cost for federal income tax purposes was $3,268,578,742.  At June 30, 2008, net unrealized depreciation for all securities based on tax cost was $10,325,789.  This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $16,583,549 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $26,909,338.*

 

 

 

 

*(a)*

*All or a portion of these securities were on loan.  The value of all securities loaned at June 30, 2008 amounted to $678,860,931 which is 29.8% of net assets.*

*(b)*

*At June 30, 2008, this security has been pledged, in whole or in part, to cover initial margin requirements for open futures contracts.*

*(c)*

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

*(d)*

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

*(e)*

*Mortgage dollar rolls included.*

*Interest Only: Interest Only (IO) bonds represent the "interest only" portion of payments on a pool of underlying mortgages or mortgage-backed securities. IO securities are subject to prepayment risk of the pool of underlying mortgages.*

*Principal Only: Principal Only (PO) bonds represent the “principal only” portion of payments on a pool of underlying mortgages or mortgage-backed securities.*

*At June 30, 2008, open futures contracts purchased were as follows:*

**Futures**

 

 

**Expiration****Date**

 

**Contracts**

 

**Aggregated****Face****Value ($)**

 

**Value ($)**

 

**Unrealized****Appreciation ($)**

 

10-Year Interest Rate Swap

 

9/15/2008 

 

103 

 

11,098,538 

 

11,325,171 

 

**226,633**

 
 

*At June 30, 2008, open futures contracts sold were as follows:*

**Futures**

 

 

**Expiration****Date**

 

**Contracts**

 

**Aggregated****Face****Value ($)**

 

**Value ($)**

 

**Unrealized****Depreciation ($)**

 

 

10-Year US Treasury Note 

 

9/19/2008 

 

3,182 

 

358,878,903 

 

362,499,406 

 

**(3,620,503)**

 
 

 

 

*At June 30, 2008, open written option contracts were as follows:*

**Written Options**

**Coupon Rate (%)**

 

**Number****of****Contracts**

 

**Expiration****Date**

 

**Strike****Price ($)**

 

**Value ($)**

 
**Call Options**

 
30-Year GNSF

5.0

30,000,000 

 

8/13/2008 

 

96.6

 

346,875 

 
30-Year GNSF

5.5

30,000,000 

 

7/14/2008 

 

101.0

 

28,125 

 
30-Year GNSF

5.5

30,000,000 

 

7/14/2008 

 

100.7

 

36,328 

 
30-Year GNSF

6.0

30,000,000 

 

7/14/2008 

 

102.0

 

34,453 

 
**Total Call Options (Premiums received $853,125)**

 

 

 

 

 

 

 

**445,781**

 
**Put Options**

 
30-Year GNSF

5.0

30,000,000 

 

7/14/2008 

 

97.6

 

379,687 

 
30-Year GNSF

5.5

30,000,000 

 

7/14/2008 

 

99.5

 

229,687 

 
30-Year GNSF

5.5

30,000,000 

 

8/13/2008 

 

98.9

 

337,500 

 
30-Year GNSF

5.5

90,000,000 

 

8/13/2008 

 

99.4

 

1,153,125 

 
30-Year GNSF

6.0

30,000,000 

 

7/14/2008 

 

102.0

 

341,016 

 
30-Year GNSF

6.0

30,000,000 

 

8/13/2008 

 

101.0

 

359,766 

 
**Total Put Options (Premiums received $2,258,203)**

 

 

 

 

 

 

 

**2,800,781**

 
**Total Written Options (Total Premiums received $3,111,328)**

 

 

 

 

 

 

 

 

 
*GNSF: Government National Single Family*

 
*Included in the portfolio are investments in mortgage or asset-backed securities which are interests in separate pools of mortgages or assets.  Effective maturities of these investments may be shorter than stated maturities due to prepayments. Some separate investments in the Government National Mortgage Association issues which have similar coupon rates have been aggregated for presentation purposes in this investment portfolio.*

 
 

 

 

 

**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 GNMA Fund, a series of DWS Income Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

August 20, 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 GNMA Fund, a series of DWS Income Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

August 20, 2008

 

 

By:

/s/Paul Schubert

 

Paul Schubert

Chief Financial Officer and Treasurer

 

Date:                                        August 20, 2008

 

  |