UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

**FORM N-Q**

**QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANY**

**_______________________________**

Investment Company Act file number  811-2021

DWS Securities Trust

(Exact name of registrant as specified in charter)

 

345 Park Avenue

New York, NY  10154

(Address of principal executive offices)             (Zip code)

 

Paul Schubert

345 Park Avenue

New York, NY  10154-0004

(Name and address of agent for service)

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

Date of fiscal year end:  05/31

Date of reporting period: 8/31/09

 

ITEM 1.  SCHEDULE OF INVESTMENTS

 

| Investment Portfolio | **as of August 31, 2009  (Unaudited)** |
|----------------------|----------------------------------------|

 

 

**DWS Climate Change Fund**

 

|   | **Shares** |   | **Value ($)** |  
 

**Common Stocks 96.8%**

 
**Austria 1.4%**

 
Oesterreichische Elektrizitaetswirtschafts AG (Verbund) "A"  (Cost $1,792,903)

 

21,376 

 

**1,087,102**

 
**Belgium 0.6%**

 
Umicore  (Cost $379,575)

 

16,981 

 

**461,046**

 
**Canada 6.0%**

 
Agrium, Inc.  

 

9,600 

 

459,064 

 
Canadian Hydro Developers, Inc.*  

 

210,258 

 

975,666 

 
Canadian National Railway Co.  

 

15,454 

 

747,043 

 
Potash Corp. of Saskatchewan, Inc.  

 

7,701 

 

681,616 

 
Ruggedcom, Inc.*  

 

21,750 

 

458,940 

 
 

 

Viterra, Inc.*  

 

138,440 

 

1,219,056 

 
(Cost $4,819,502)

 

**4,541,385**

 
**Cayman Islands 0.7%**

 
Fresh Del Monte Produce, Inc.*  (Cost $378,271)

 

22,400 

 

**512,960**

 
**Chile 0.6%**

 
Sociedad Quimica y Minera de Chile SA (ADR)  (Cost $438,325)

 

11,900 

 

**414,477**

 
**China 2.6%**

 
BYD Co., Ltd. "H"*  

 

65,300 

 

410,638 

 
Duoyuan Global Water, Inc. (ADR)*  

 

15,500 

 

462,830 

 
Yingli Green Energy Holding Co., Ltd. (ADR)*  

 

102,417 

 

1,105,079 

 
(Cost $1,901,657)

 

**1,978,547**

 
**Denmark 1.0%**

 
Rockwool International AS "B"  

 

4,000 

 

374,781 

 
Vestas Wind Systems AS*  

 

5,564 

 

399,631 

 
(Cost $606,147)

 

**774,412**

 
**France 6.6%**

 
Alstom SA  

 

5,939 

 

418,813 

 
Compagnie de Saint-Gobain  

 

22,200 

 

1,000,129 

 
GDF Suez  

 

25,000 

 

1,055,701 

 
Nexans SA  

 

20,660 

 

1,514,900 

 
Saft Groupe SA  

 

13,172 

 

583,950 

 
Schneider Electric SA  

 

4,408 

 

408,029 

 
(Cost $4,939,200)

 

**4,981,522**

 
**Germany 11.1%**

 
BASF SE  

 

9,904 

 

517,924 

 
E.ON AG  

 

56,554 

 

2,396,553 

 
ElringKlinger AG  

 

4,350 

 

78,372 

 
Linde AG  

 

16,500 

 

1,662,270 

 
SGL Carbon SE*  

 

15,585 

 

576,163 

 
Siemens AG (Registered)  

 

7,581 

 

657,424 

 
SMA Solar Technology AG  

 

7,630 

 

565,363 

 
Solar Millennium AG*  

 

6,000 

 

160,997 

 
Solarworld AG  

 

50,723 

 

1,079,462 

 
Vossloh AG  

 

6,052 

 

714,479 

 
(Cost $6,961,787)

 

**8,409,007**

 
**Greece 0.5%**

 
Terna Energy SA  (Cost $601,962)

 

51,176 

 

**402,044**

 
**Hong Kong 2.1%**

 
Coslight Technology International Group Ltd.  

 

350,000 

 

311,797 

 
GCL Poly Energy Holdings Ltd. (a)

 

1,946,000 

 

543,523 

 
Tianneng Power International Ltd.  

 

919,000 

 

381,614 

 
Wasion Group Holdings Ltd. (a) 

 

396,000 

 

359,620 

 
(Cost $1,808,693)

 

**1,596,554**

 
**Ireland 1.1%**

 
Kingspan Group PLC  (Cost $586,374)

 

89,935 

 

**808,937**

 
**Japan 4.5%**

 
Asahi Kasei Corp.  

 

103,000 

 

493,919 

 
Citizen Holdings Co., Ltd.  

 

50,500 

 

303,826 

 
Dowa Holdings Co., Ltd.  

 

84,000 

 

469,424 

 
East Japan Railway Co.  

 

16,700 

 

1,089,935 

 
 

 

GS Yuasa Corp.  

 

31,000 

 

269,111 

 
Stella Chemifa Corp.  

 

9,200 

 

431,049 

 
Yaskawa Electric Corp.  

 

50,000 

 

359,165 

 
(Cost $3,218,638)

 

**3,416,429**

 
**Netherlands 1.3%**

 
Ballast Nedam NV (CVA)  

 

20,758 

 

470,593 

 
Imtech NV  

 

14,700 

 

356,702 

 
Koninklijke Boskalis Westminster NV  

 

5,877 

 

185,443 

 
(Cost $1,380,844)

 

**1,012,738**

 
**Norway 2.6%**

 
Renewable Energy Corp. AS*  

 

133,000 

 

904,407 

 
Yara International ASA  

 

38,583 

 

1,047,826 

 
(Cost $1,980,728)

 

**1,952,233**

 
**Portugal 1.3%**

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

 

227,529 

 

**984,391**

 
**Spain 4.2%**

 
Acciona SA  

 

3,736 

 

484,454 

 
EDP Renovaveis SA*  

 

57,000 

 

565,974 

 
Gamesa Corp. Tecnologica SA  

 

72,825 

 

1,602,233 

 
Iberdrola Renovables SA

 

117,200 

 

539,340 

 
(Cost $3,263,004)

 

**3,192,001**

 
**Switzerland 2.1%**

 
ABB Ltd. (Registered)*  

 

21,240 

 

409,509 

 
BKW FMB Energie AG  

 

7,436 

 

587,451 

 
Sulzer AG (Registered)  

 

7,529 

 

584,393 

 
(Cost $2,057,718)

 

**1,581,353**

 
**United Kingdom 3.8%**

 
AMEC PLC  

 

36,033 

 

440,263 

 
Johnson Matthey PLC  

 

440 

 

10,086 

 
PV Crystalox Solar PLC  

 

139,795 

 

170,052 

 
Rotork PLC  

 

24,473 

 

381,126 

 
RPS Group PLC  

 

208,477 

 

675,240 

 
SIG PLC  

 

530,027 

 

1,206,320 

 
(Cost $4,218,915)

 

**2,883,087**

 
**United States 42.7%**

 
Air Products & Chemicals, Inc.  

 

6,050 

 

453,932 

 
Altair Nanotechnologies, Inc.*  

 

58,429 

 

53,755 

 
American Superconductor Corp.*  

 

27,316 

 

882,580 

 
BorgWarner, Inc.  

 

25,400 

 

753,618 

 
Bunge Ltd.  

 

5,900 

 

395,359 

 
Calgon Carbon Corp.*  

 

88,230 

 

1,261,689 

 
CLARCOR, Inc.  

 

15,502 

 

496,994 

 
Comverge, Inc.*  

 

54,000 

 

601,560 

 
Cooper Industries Ltd. "A"  

 

15,361 

 

495,392 

 
Corning, Inc.  

 

36,500 

 

550,420 

 
Covanta Holding Corp.*  

 

76,968 

 

1,377,727 

 
Cree, Inc.*  

 

18,507 

 

681,798 

 
Cummins, Inc.  

 

16,900 

 

765,908 

 
Donaldson Co., Inc.  

 

9,893 

 

371,680 

 
Emerson Electric Co.  

 

21,736 

 

801,406 

 
 

 

Ener1, Inc.*  

 

59,300 

 

378,334 

 
Energy Recovery, Inc.*  

 

74,990 

 

394,447 

 
EnerNOC, Inc.*  

 

26,500 

 

713,910 

 
EnerSys*  

 

27,600 

 

548,964 

 
ESCO Technologies, Inc.*  

 

14,240 

 

527,734 

 
Fairchild Semiconductor International, Inc.*  

 

41,400 

 

416,484 

 
First Solar, Inc.*  

 

10,562 

 

1,284,128 

 
Fluor Corp.  

 

11,858 

 

627,288 

 
FMC Corp.  

 

3,550 

 

169,335 

 
Foster Wheeler AG*  

 

13,300 

 

385,035 

 
Fuel Tech, Inc.*  

 

32,900 

 

336,238 

 
FuelCell Energy, Inc.*  

 

78,497 

 

286,514 

 
General Cable Corp.*  

 

21,650 

 

763,812 

 
General Electric Co.  

 

71,998 

 

1,000,772 

 
ITC Holdings Corp.  

 

19,456 

 

906,261 

 
Itron, Inc.*  

 

25,200 

 

1,380,708 

 
Jacobs Engineering Group, Inc.*  

 

13,250 

 

582,735 

 
Johnson Controls, Inc.  

 

23,154 

 

573,525 

 
Kaydon Corp.  

 

12,864 

 

429,400 

 
Layne Christensen Co.*  

 

15,550 

 

401,190 

 
Maxwell Technologies, Inc.*  

 

33,000 

 

446,490 

 
Monsanto Co.  

 

9,236 

 

774,716 

 
Northwest Pipe Co.*  

 

14,700 

 

488,481 

 
Ormat Technologies, Inc.  

 

8,300 

 

299,298 

 
PG&E Corp.  

 

7,840 

 

318,226 

 
Plum Creek Timber Co., Inc. (REIT)  

 

22,538 

 

682,676 

 
Power Integrations, Inc.  

 

27,565 

 

902,754 

 
Quanta Services, Inc.*  

 

50,500 

 

1,117,060 

 
Rayonier, Inc. (REIT)  

 

17,721 

 

761,117 

 
SCANA Corp.  

 

7,000 

 

242,760 

 
Tetra Tech, Inc.*  

 

44,873 

 

1,325,548 

 
The Mosaic Co.  

 

11,600 

 

562,252 

 
United Technologies Corp.  

 

25,908 

 

1,537,899 

 
Valence Technology, Inc.*  

 

85,000 

 

127,500 

 
Waste Management, Inc.  

 

21,000 

 

628,530 

 
(Cost $33,382,707)

 

**32,265,939**

 
**Total Common Stocks** (Cost $75,966,981)

 

**73,256,164**

 
 

**Cash Equivalents 5.9%**

 
Cash Management QP Trust, 0.22% (b)(Cost $4,464,522)

 

 

4,464,522

 

**4,464,522**

 
 

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

 

**Value ($)**

 
**Total Investment Portfolio** (Cost $80,431,503) †

102.7

 

**77,720,686**

 
**Other Assets and Liabilities, Net**

(2.7)

 

**(2,074,068)**

 
**Net Assets**

100.0

 

**75,646,618**

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

 
***

*Non-income producing security.*

 
*†*

*The cost for federal income tax purposes was $88,358,635.  At August 31, 2009, net unrealized depreciation for all securities based on tax cost was $10,637,949.  This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $7,292,012 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $17,929,961.*

 
*(a)*

*Security is listed in country of domicile.  Significant business activities of company are in China.*

 
 

 

*(b)*

*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*

*REIT: Real Estate Investment Trust*

*At August 31, 2009 the DWS Climate Change Fund had the following sector diversification:*

 

**Market Value ($)**

 

**As a % of**

**Common Stocks**

 

Industrials

 

38,579,154

 

52.7

%

 

Utilities

 

11,388,744

 

15.5

%

 

Materials

 

9,924,380

 

13.6

%

 

Information Technology

 

7,253,529

 

9.9

%

 

Consumer Staples

 

2,439,172

 

3.3

%

 

Consumer Discretionary

 

1,787,129

 

2.4

%

 

Financials

 

1,443,793

 

2.0

%

 

Energy

 

440,263

 

0.6

%

 

**Total**

**73,256,164**

 

**100.0**

**%**

 

 

***Fair Value Measurements***

 

*Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, “Fair Value Measurements,” as amended, establishes a three-tier hierarchy for measuring fair value and requires additional disclosure about the classification of fair value measurements.*

 

*Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, and credit risk). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.*

 

*The following is a summary of the inputs used as of August 31, 2009 in valuing the Fund's investments:*

 

**Assets**

**Level 1**

**Level 2**

**Level 3**

**Total**

Common Stock and/or Other Equity Investments

 

 

 

 

 

Austria

$                      —

$      1,087,102

$                    —

$           1,087,102

 

Belgium

—

461,046

—

461,046

 

Canada

4,541,385

—

—

4,541,385

 

Cayman Islands

512,960

—

—

512,960

 

Chile

414,477

—

—

414,477

 

China

1,567,909

410,638

—

1,978,547

 

Denmark

—

774,412

—

774,412

 

France

—

4,981,522

—

4,981,522

 

Germany

—

8,409,007

—

8,409,007

 

Greece

—

402,044

—

402,044

 

Hong Kong

—

1,596,554

—

1,596,554

 

Ireland

—

808,937

—

808,937

 

Japan

—

3,416,429

—

3,416,429

 

Netherlands

—

1,012,738

—

1,012,738

 

Norway

—

1,952,233

—

1,952,233

 

Portugal

—

984,391

—

984,391

 

Spain

—

3,192,001

—

3,192,001

 

Switzerland

—

1,581,353

—

1,581,353

 

United Kingdom

—

2,883,087

—

2,883,087

 

United States

32,265,939

—

—

32,265,939

Short-Term Investments

—

4,464,522

—

4,464,522

 

 

**Total**

**$      39,302,670**

**$    38,418,016**

**$**—

**$          77,720,686**

 

 

 

 

 

 

 

**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:

October 21, 2009

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

Registrant:

DWS Climate Change Fund, a series of DWS Securities Trust

 

 

By:

/s/Michael G. Clark

Michael G. Clark

President

 

 

Date:

October 21, 2009

 

 

 

 

 

 

By:

/s/Paul Schubert

Paul Schubert

Chief Financial Officer and Treasurer

 

 

Date:

October 21, 2009

 

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