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  811-06600

DWS Value Builder Fund, Inc.

(Exact name of registrant as specified in charter)

 

One South Street

Baltimore, MD  21202

(Address of principal executive offices)             (Zip code)

 

Paul Schubert

345 Park Avenue

New York, NY  10154

(Name and address of agent for service)

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

Date of fiscal year end:  03/31

Date of reporting period: 12/31/07

 

ITEM 1.  SCHEDULE OF INVESTMENTS

 

| Investment Portfolio | **as of December 31, 2007  (Unaudited)** |
|----------------------|------------------------------------------|

 

 

**DWS Value Builder Fund**

 

|   | **Shares**              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | **Value ($)** |
|--------|-------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|
|        |
|   | **Common Stocks 75.4%** |  
**Consumer Discretionary 4.3%**

 
**Media 3.9%**

 
Comcast Corp. "A"*  

 

372,000 

 

6,792,720 

R.H. Donnelley Corp.*  

 

67,129 

 

2,448,866 

 

**9,241,586**

**Specialty Retail 0.4%**

 
Lowe's Companies, Inc.  

 

40,000 

 

**904,800**

**Consumer Staples 8.3%**

 
**Food & Staples Retailing 3.0%**

 
Costco Wholesale Corp.  

 

100,400 

 

**7,003,904**

 

 

 

 

**Tobacco 5.3%**

 
Altria Group, Inc.  

 

165,500 

 

**12,508,490**

**Energy 7.6%**

 
**Oil, Gas & Consumable Fuels**

Kinder Morgan Management LLC*  

 

250,415 

 

13,256,970 

Magellan Midstream Holdings LP  

 

173,700 

 

4,655,160 

 

**17,912,130**

**Financials 15.3%**

 
**Consumer Finance 7.6%**

 
AmeriCredit Corp.*  

 

510,000 

 

6,522,900 

Capital One Financial Corp.  

 

120,900 

 

5,713,734 

The First Marblehead Corp.  

 

378,857 

 

5,796,512 

 

**18,033,146**

**Diversified Financial Services 4.5%**

 
Citigroup, Inc.  

 

258,500 

 

7,610,240 

Moody's Corp.  

 

82,200 

 

2,934,540 

 

**10,544,780**

**Thrifts & Mortgage Finance 3.2%**

 
Countrywide Financial Corp.  

 

276,000 

 

2,467,440 

Freddie Mac  

 

149,400 

 

5,090,058 

 

**7,557,498**

**Health Care 18.1%**

 
**Health Care Providers & Services 13.8%**

 
Coventry Health Care, Inc.*  

 

163,100 

 

9,663,675 

Laboratory Corp. of America Holdings*  

 

36,000 

 

2,719,080 

Omnicare, Inc.  

 

155,000 

 

3,535,550 

WellPoint, Inc.*  

 

190,300 

 

16,695,019 

 

**32,613,324**

**Pharmaceuticals 4.3%**

 
Johnson & Johnson  

 

154,000 

 

**10,271,800**

**Information Technology 11.5%**

 
**Computers & Peripherals 7.2%**

 
Hewlett-Packard Co.  

 

142,000 

 

7,168,160 

International Business Machines Corp.  

 

90,000 

 

9,729,000 

 

**16,897,160**

**IT Services 4.3%**

 
MasterCard, Inc. "A"  

 

46,000 

 

9,899,200 

Redecard SA (GDR) 144A  

 

11,600 

 

375,371 

 

**10,274,571**

**Telecommunication Services 10.3%**

 
**Wireless Telecommunication Services**

America Movil SAB de CV "L" (ADR)  

 

74,000 

 

4,542,860 

American Tower Corp. "A"*  

 

105,000 

 

4,473,000 

Millicom International Cellular SA*  

 

35,000 

 

4,127,900 

NII Holdings, Inc.*  

 

105,166 

 

5,081,621 

SBA Communications Corp. "A"*  

 

150,000 

 

5,076,000 

Virgin Mobile USA, Inc. "A"*  

 

128,000 

 

1,137,920 

 

**24,439,301**

**Total Common Stocks** (Cost $108,847,242)

 

**178,202,490**

 

 

 

 

 

**Principal****Amount ($)**

 

**Value ($)**

 

**Corporate Bonds 20.0%**

 
**Consumer Discretionary 9.8%**

 
Blyth, Inc., 5.5%, 11/1/2013 

 

5,110,000

 

4,394,600

Clear Channel Communications, Inc., 5.5%, 9/15/2014 

 

1,000,000

 

762,235

Comcast Corp.:

 
 

5.5%, 3/15/2011  

 

1,000,000 

 

1,009,557

 

6.5%, 1/15/2017  

 

650,000 

 

677,724

Marriott International, Inc., 5.81%, 11/10/2015 

 

5,700,000

 

5,771,791

MGM MIRAGE:

 
 

5.875%, 2/27/2014  

 

2,000,000 

 

1,830,000 

 

6.625%, 7/15/2015  

 

2,500,000 

 

2,343,750 

R.H. Donnelley Corp., 6.875%, 1/15/2013 

 

5,900,000

 

5,280,500

Time Warner, Inc., 6.875%, 5/1/2012 

 

1,000,000

 

1,053,009

 

**23,123,166**

**Consumer Staples 0.1%**

 
Smithfield Foods, Inc., 7.75%, 7/1/2017 

 

150,000

 

**145,125**

**Energy 0.9%**

 
Kinder Morgan Energy Partners LP, 7.125%, 3/15/2012 

 

2,000,000

 

**2,137,858**

**Financials 2.4%**

 
American Real Estate Partners LP, 144A, 7.125%, 2/15/2013 

 

1,595,000

 

1,499,300

AmeriCredit Corp., 144A, 8.5%, 7/1/2015 

 

3,000,000

 

2,287,500

Capital One Financial Corp., 6.15%, 9/1/2016 

 

250,000

 

221,837

GMAC LLC, 6.875%, 8/28/2012 

 

2,000,000

 

1,675,928

 

**5,684,565**

**Health Care 0.3%**

 
Coventry Health Care, Inc., 5.875%, 1/15/2012 

 

500,000

 

508,308

Omnicare, Inc., 6.875%, 12/15/2015 

 

250,000

 

232,500

 

**740,808**

**Industrials 2.9%**

 
Leucadia National Corp., 7.125%, 3/15/2017 

 

2,190,000

 

2,025,750

Masco Corp., 5.85%, 3/15/2017 

 

400,000

 

388,077

Norfolk Southern Corp., 5.257%, 9/17/2014 

 

1,367,000

 

1,355,379

Union Carbide Corp., 6.7%, 4/1/2009 

 

3,000,000

 

3,014,616

 

**6,783,822**

**Information Technology 1.0%**

 
Electronic Data Systems Corp., Series B, 6.5%, 8/1/2013 

 

2,000,000

 

2,022,310

Hewlett-Packard Co., 5.234% **, 3/1/2012 

 

500,000

 

490,030

 

**2,512,340**

**Materials 0.4%**

 
USG Corp., 7.75%, 1/15/2018 

 

1,000,000

 

**994,505**

**Telecommunication Services 1.8%**

 
American Tower Corp., 7.5%, 5/1/2012 

 

500,000

 

515,000

Anixter, Inc., 5.95%, 3/1/2015 

 

1,975,000

 

1,779,969

GTE Corp., 6.46%, 4/15/2008 

 

2,000,000

 

2,007,040

 

**4,302,009**

**Utilities 0.4%**

 
MidAmerican Energy Holdings Co., Series D, 5.0%, 2/15/2014 

 

1,000,000

 

**972,558**

 

 

 

 

**Total Corporate Bonds** (Cost $48,596,293)

 

**47,396,756**

 

**Repurchase Agreements 6.1%**

 
State Street Bank and Trust Co., 0.8%, dated 12/31/2007, to be repurchased at $14,357,638 on 1/2/2008 (a) (Cost $14,357,000)

 

14,357,000

 

**14,357,000**

 

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

 

**Value ($)**

**Total Investment Portfolio** (Cost $171,800,535) 

101.5

 

**239,956,246**

**Other Assets and Liabilities, Net**

(1.5)

 

**(3,623,391)**

**Net Assets**

100.0

 

**236,332,855**

 

*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.*

****

*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 December 31, 2007.*

*(a)*

*Collateralized by $10,470,000 US Treasury Bond, 8.5%, maturing 2/15/2020 with a value of $14,644,913.*

*ADR: American Depositary Receipt*

*GDR: Global Depositary Receipt*

*144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.*

 

 

**ITEM 2.**

**CONTROLS AND PROCEDURES**

 

 

 

(a)          The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

 

 

 

(b)         There have been no changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last half-year (the registrant’s second fiscal half-year in the case of the annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting.

 

 

**ITEM 3.**

**EXHIBITS**

 

 

 

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

 

 

 

**SIGNATURES**

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Registrant: 

DWS Value Builder Fund, Inc.

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

February 21, 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 Value Builder Fund, Inc.

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

February 21, 2008

 

 

By:

/s/Paul Schubert

 

Paul Schubert

Chief Financial Officer and Treasurer

 

Date:                                        February 21, 2008

 

  |