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:  07/31

Date of reporting period: 04/30/08

 

ITEM 1.  SCHEDULE OF INVESTMENTS

 

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

 

 

**DWS Small Cap Value Fund**

 

|   | **Shares**              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | **Value ($)** |
|--------|-------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------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---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|
|        |
|   | **Common Stocks 95.5%** |  
**Consumer Discretionary 12.1%**

 
**Auto Components 1.5%**

 
American Axle & Manufacturing Holdings, Inc. (a) 

 

37,400 

 

753,236 

Cooper Tire & Rubber Co.  

 

115,700 

 

1,520,298 

 

**2,273,534**

**Hotels Restaurants & Leisure 2.3%**

 
Bob Evans Farms, Inc.  

 

54,800 

 

1,538,236 

CEC Entertainment, Inc.*  

 

35,000 

 

1,302,000 

Jack in the Box, Inc.*  

 

22,700 

 

607,225 

 

**3,447,461**

**Household Durables 1.0%**

 
CSS Industries, Inc.  

 

14,500 

 

453,415 

 

 

 

 

Hooker Furniture Corp. (a) 

 

32,100 

 

673,137 

Libbey, Inc.  

 

22,100 

 

313,820 

 

**1,440,372**

**Internet & Catalog Retail 0.5%**

 
FTD Group, Inc.  

 

57,400 

 

**789,250**

**Leisure Equipment & Products 0.8%**

 
Callaway Golf Co.  

 

78,800 

 

1,082,712 

JAKKS Pacific, Inc.*  

 

5,900 

 

138,591 

 

**1,221,303**

**Media 1.8%**

 
DG Fastchannel, Inc.*  

 

28,800 

 

537,120 

Scholastic Corp.* (a) 

 

60,800 

 

1,711,520 

Sinclair Broadcast Group, Inc. "A"  

 

40,000 

 

351,600 

 

**2,600,240**

**Specialty Retail 1.8%**

 
Rent-A-Center, Inc.* (a) 

 

3,300 

 

71,049 

Stage Stores, Inc.  

 

94,800 

 

1,492,152 

Talbots, Inc.  

 

134,600 

 

1,080,838 

 

**2,644,039**

**Textiles, Apparel & Luxury Goods 2.4%**

 
Movado Group, Inc.  

 

11,500 

 

251,160 

Perry Ellis International, Inc.*  

 

75,850 

 

1,732,414 

Steven Madden Ltd.*  

 

11,700 

 

221,247 

UniFirst Corp.  

 

11,300 

 

528,953 

Wolverine World Wide, Inc.  

 

30,700 

 

882,318 

 

**3,616,092**

**Consumer Staples 3.5%**

 
**Food & Staples Retailing 0.1%**

 
Nash Finch Co.  

 

5,200 

 

**190,216**

**Food Products 3.4%**

 
Cal-Maine Foods, Inc. (a) 

 

49,200 

 

1,453,860 

Flowers Foods, Inc.  

 

43,237 

 

1,119,406 

Fresh Del Monte Produce, Inc.* (a) 

 

53,100 

 

1,682,739 

Imperial Sugar Co. (a) 

 

49,800 

 

785,346 

 

**5,041,351**

**Energy 7.5%**

 
**Energy Equipment & Services 1.9%**

 
GulfMark Offshore, Inc.*  

 

16,200 

 

968,760 

Pioneer Drilling Co.*  

 

108,100 

 

1,765,273 

Trico Marine Services, Inc.*  

 

2,300 

 

86,687 

 

**2,820,720**

**Oil, Gas & Consumable Fuels 5.6%**

 
Brigham Exploration Co.* (a) 

 

37,300 

 

352,112 

Clayton Williams Energy, Inc.*  

 

18,000 

 

1,137,420 

Comstock Resources, Inc.*  

 

44,500 

 

2,024,305 

Mariner Energy, Inc.*  

 

38,300 

 

1,055,548 

McMoRan Exploration Co.*  

 

57,400 

 

1,573,908 

Swift Energy Co.*  

 

41,700 

 

2,174,238 

 

**8,317,531**

 

 

 

 

**Financials 27.6%**

 
**Capital Markets 1.8%**

 
Calamos Asset Management, Inc. "A"  

 

4,600 

 

82,570 

Hercules Technology Growth Capital, Inc.  

 

13,760 

 

139,664 

Knight Capital Group, Inc. "A"*  

 

85,600 

 

1,601,576 

Prospect Capital Corp. (a) 

 

59,155 

 

877,860 

 

**2,701,670**

**Commercial Banks 9.7%**

 
BancFirst Corp.  

 

6,500 

 

284,245 

Banco Latinoamericano de Exportaciones SA "E"  

 

48,600 

 

913,680 

Banner Corp.  

 

6,700 

 

144,720 

Citizens Republic Bancorp., Inc. (a) 

 

59,500 

 

490,875 

City Bank (a) 

 

4,700 

 

85,164 

City Holding Co.  

 

5,400 

 

224,532 

Columbia Banking System, Inc.  

 

4,000 

 

108,320 

Community Bank System, Inc.  

 

14,500 

 

369,605 

First Financial Bancorp.

 

10,500 

 

137,760 

First Financial Bankshares, Inc.  

 

8,700 

 

391,413 

First Merchants Corp.  

 

1,700 

 

43,469 

FirstMerit Corp.  

 

34,700 

 

712,044 

Frontier Financial Corp. (a) 

 

18,600 

 

297,600 

Greene Bancshares, Inc.  

 

29,100 

 

582,873 

Hancock Holding Co.  

 

12,300 

 

507,621 

IBERIABANK Corp.  

 

5,150 

 

248,230 

Nara Bancorp., Inc.  

 

15,200 

 

199,576 

National Penn Bancshares, Inc.  

 

7,900 

 

131,851 

NBT Bancorp., Inc.  

 

6,200 

 

141,236 

Old National Bancorp.  

 

10,800 

 

184,788 

Oriental Financial Group, Inc.  

 

68,900 

 

1,295,320 

Pacific Capital Bancorp. (a) 

 

17,266 

 

351,881 

Park National Corp.  

 

800 

 

60,808 

Prosperity Bancshares, Inc.  

 

12,200 

 

377,834 

Renasant Corp.  

 

12,700 

 

294,259 

Sandy Spring Bancorp., Inc.  

 

8,450 

 

215,475 

Southside Bancshares, Inc.  

 

3,400 

 

82,042 

Sterling Bancshares, Inc.  

 

67,300 

 

699,247 

Susquehanna Bancshares, Inc.  

 

10,700 

 

212,823 

SVB Financial Group* (a) 

 

50,800 

 

2,471,928 

Tompkins Financial Corp.  

 

2,700 

 

130,599 

Trustmark Corp.  

 

2,000 

 

43,560 

UMB Financial Corp.  

 

16,170 

 

802,679 

United Bankshares, Inc.  

 

37,000 

 

1,076,330 

WesBanco, Inc.  

 

4,400 

 

94,644 

 

**14,409,031**

**Insurance 5.8%**

 
American Physicians Capital, Inc.  

 

500 

 

23,175 

Aspen Insurance Holdings Ltd.  

 

55,600 

 

1,445,044 

CNA Surety Corp.*  

 

3,700 

 

48,951 

Harleysville Group, Inc.  

 

3,900 

 

142,155 

IPC Holdings Ltd.  

 

47,900 

 

1,394,369 

Max Capital Group Ltd.  

 

28,900 

 

676,549 

Meadowbrook Insurance Group, Inc.  

 

10,000 

 

72,400 

Navigators Group, Inc.*  

 

33,000 

 

1,617,000 

Platinum Underwriters Holdings Ltd.  

 

51,900 

 

1,861,653 

Seabright Insurance Holdings*  

 

30,600 

 

474,912 

Selective Insurance Group, Inc.  

 

14,700 

 

313,404 

 

 

 

 

United Fire & Casualty Co.  

 

2,100 

 

69,195 

Validus Holdings Ltd.  

 

22,000 

 

500,500 

 

**8,639,307**

**Real Estate Investment Trusts 8.7%**

 
Alexandria Real Estate Equities, Inc. (REIT)  

 

1,400 

 

147,042 

American Campus Communities, Inc. (REIT)  

 

6,600 

 

201,498 

Anthracite Capital, Inc. (REIT) (a) 

 

48,000 

 

374,400 

Ashford Hospitality Trust (REIT)  

 

61,300 

 

354,927 

BioMed Realty Trust, Inc. (REIT)  

 

20,400 

 

530,400 

Corporate Office Properties Trust (REIT)  

 

11,900 

 

443,870 

DCT Industrial Trust, Inc. (REIT) (a) 

 

43,200 

 

432,000 

DiamondRock Hospitality Co. (REIT)  

 

25,900 

 

330,225 

Education Realty Trust, Inc. (REIT)  

 

36,300 

 

484,242 

Entertainment Properties Trust (REIT)  

 

10,200 

 

544,272 

Equity One, Inc. (REIT) (a) 

 

21,600 

 

533,520 

Extra Space Storage, Inc. (REIT)  

 

16,500 

 

277,695 

First Industrial Realty Trust, Inc. (REIT) (a) 

 

10,400 

 

314,184 

Gramercy Capital Corp. (REIT)  

 

7,500 

 

142,500 

Healthcare Realty Trust, Inc. (REIT) (a) 

 

23,300 

 

660,089 

Home Properties, Inc. (REIT)  

 

3,400 

 

178,738 

Inland Real Estate Corp. (REIT)  

 

23,300 

 

376,295 

LaSalle Hotel Properties (REIT)  

 

20,600 

 

660,642 

Lexington Realty Trust (REIT) (a) 

 

35,300 

 

508,320 

Maguire Properties, Inc. (REIT)  

 

6,300 

 

101,430 

Medical Properties Trust, Inc. (REIT)  

 

10,800 

 

131,220 

MFA Mortgage Investments, Inc. (REIT)  

 

38,800 

 

271,212 

National Retail Properties, Inc. (REIT)  

 

21,500 

 

492,565 

Parkway Properties, Inc. (REIT)  

 

3,800 

 

150,708 

Pennsylvania Real Estate Investment Trust (REIT)  

 

20,600 

 

518,708 

Potlatch Corp. (REIT)  

 

12,300 

 

551,163 

Realty Income Corp. (REIT) (a) 

 

23,400 

 

615,654 

Senior Housing Properties Trust (REIT)  

 

22,900 

 

548,455 

Sovran Self Storage, Inc. (REIT) (a) 

 

13,800 

 

616,860 

Strategic Hotels & Resorts, Inc. (REIT)  

 

43,800 

 

631,158 

Sunstone Hotel Investors, Inc. (REIT)  

 

29,100 

 

543,588 

U-Store-It Trust (REIT)  

 

17,700 

 

213,639 

 

**12,881,219**

**Thrifts & Mortgage Finance 1.6%**

 
Anchor BanCorp. Wisconsin, Inc. (a) 

 

12,300 

 

186,837 

Corus Bankshares, Inc. (a) 

 

153,900 

 

1,128,087 

Dime Community Bancshares  

 

2,800 

 

52,276 

Flushing Financial Corp.  

 

22,700 

 

443,104 

Northwest Bancorp., Inc.  

 

6,300 

 

162,540 

Ocwen Financial Corp.* (a) 

 

14,000 

 

69,160 

WSFS Financial Corp.  

 

7,200 

 

365,832 

 

**2,407,836**

**Health Care 5.5%**

 
**Biotechnology 0.9%**

 
Applera Corp. - Celera Group*  

 

22,500 

 

301,050 

Isis Pharmaceuticals, Inc.* (a) 

 

88,100 

 

1,037,818 

 

**1,338,868**

**Health Care Equipment & Supplies 0.0%**

 
Merit Medical Systems, Inc.*  

 

2,900 

 

**42,659**

 

 

 

 

**Health Care Providers & Services 3.3%**

 
Apria Healthcare Group, Inc.*  

 

112,800 

 

1,987,536 

Centene Corp.*  

 

73,700 

 

1,353,869 

Healthspring, Inc.*  

 

52,600 

 

885,784 

Kindred Healthcare, Inc.*  

 

13,400 

 

317,982 

Owens & Minor, Inc.  

 

6,900 

 

312,708 

 

**4,857,879**

**Life Sciences Tools & Services 0.3%**

 
Cambrex Corp.  

 

44,900 

 

262,665 

Pharmanet Development Group, Inc.*  

 

5,300 

 

126,458 

 

**389,123**

**Pharmaceuticals 1.0%**

 
Perrigo Co.  

 

36,200 

 

**1,483,838**

**Industrials 15.1%**

 
**Aerospace & Defense 1.7%**

 
Esterline Technologies Corp.*  

 

12,200 

 

679,052 

Teledyne Technologies, Inc.*  

 

31,100 

 

1,826,503 

 

**2,505,555**

**Air Freight & Logistics 1.1%**

 
Atlas Air Worldwide Holdings, Inc.*  

 

2,100 

 

127,428 

Forward Air Corp.  

 

12,100 

 

412,489 

Pacer International, Inc.  

 

57,600 

 

1,069,056 

 

**1,608,973**

**Airlines 0.0%**

 
Republic Airways Holdings, Inc.*  

 

3,300 

 

**55,638**

**Commercial Services & Supplies 3.0%**

 
Bowne & Co., Inc.  

 

38,700 

 

643,968 

Comfort Systems USA, Inc.  

 

36,200 

 

492,320 

Deluxe Corp.  

 

36,000 

 

765,360 

United Stationers, Inc.*  

 

34,300 

 

1,512,287 

Volt Information Sciences, Inc.*  

 

75,100 

 

1,001,834 

 

**4,415,769**

**Construction & Engineering 2.3%**

 
EMCOR Group, Inc.*  

 

80,700 

 

2,022,342 

Perini Corp.*  

 

38,300 

 

1,385,694 

 

**3,408,036**

**Electrical Equipment 2.6%**

 
GrafTech International Ltd.*  

 

83,300 

 

1,636,845 

LSI Industries, Inc.  

 

54,100 

 

592,936 

Superior Essex, Inc.*  

 

53,400 

 

1,587,582 

 

**3,817,363**

**Industrial Conglomerates 0.1%**

 
Tredegar Corp.  

 

9,800 

 

**160,132**

**Machinery 2.0%**

 
Actuant Corp. "A"  

 

5,400 

 

182,898 

Ampco-Pittsburgh Corp.  

 

13,400 

 

605,948 

Columbus McKinnon Corp.*  

 

44,800 

 

1,268,288 

EnPro Industries, Inc.*  

 

9,000 

 

326,700 

Mueller Industries, Inc.  

 

15,600 

 

504,972 

Robbins & Myers, Inc.  

 

4,000 

 

159,440 

 

**3,048,246**

 

 

 

 

**Marine 0.7%**

 
TBS International Ltd. "A"*  

 

26,300 

 

**1,056,734**

**Road & Rail 1.4%**

 
Arkansas Best Corp. (a) 

 

37,700 

 

1,488,396 

Dollar Thrifty Automotive Group, Inc.*  

 

43,000 

 

567,170 

MascoTech, Inc. (Escrow Shares) *  

 

90,800 

 

0 

 

**2,055,566**

**Trading Companies & Distributors 0.2%**

 
Applied Industrial Technologies, Inc.  

 

14,000 

 

**338,240**

**Information Technology 10.6%**

 
**Communications Equipment 0.8%**

 
ADTRAN, Inc.  

 

12,600 

 

298,116 

Anaren, Inc.*  

 

29,700 

 

400,059 

Avocent Corp.*  

 

20,500 

 

399,955 

Tekelec*  

 

5,900 

 

86,848 

 

**1,184,978**

**Computers & Peripherals 0.9%**

 
Emulex Corp.*  

 

106,700 

 

**1,396,703**

**Electronic Equipment & Instruments 0.9%**

 
Rogers Corp.*  

 

4,900 

 

167,776 

SYNNEX Corp.*  

 

9,500 

 

226,860 

Technitrol, Inc.  

 

41,900 

 

879,900 

 

**1,274,536**

**Internet Software & Services 1.1%**

 
CMGI, Inc.*  

 

21,700 

 

300,111 

EarthLink, Inc.*  

 

64,800 

 

591,624 

InfoSpace, Inc.  

 

15,900 

 

191,754 

S1 Corp.*  

 

20,000 

 

135,200 

United Online, Inc. (a) 

 

37,700 

 

402,636 

 

**1,621,325**

**IT Services 1.8%**

 
CIBER, Inc.*  

 

6,500 

 

40,690 

CSG Systems International, Inc.*  

 

137,500 

 

1,663,750 

ManTech International Corp. "A"*  

 

15,900 

 

759,543 

MPS Group, Inc.*  

 

11,500 

 

123,395 

SRA International, Inc. "A"*  

 

3,500 

 

91,945 

 

**2,679,323**

**Semiconductors & Semiconductor Equipment 3.4%**

 
Pericom Semiconductor Corp.*  

 

67,800 

 

1,155,312 

Skyworks Solutions, Inc.*  

 

177,400 

 

1,541,606 

Standard Microsystems Corp.*  

 

35,600 

 

1,055,540 

TriQuint Semiconductor, Inc.*  

 

94,500 

 

622,755 

Zoran Corp.*  

 

55,700 

 

733,012 

 

**5,108,225**

**Software 1.7%**

 
JDA Software Group, Inc.*  

 

75,100 

 

1,419,390 

Secure Computing Corp.*  

 

21,300 

 

141,006 

Sybase, Inc.*  

 

33,400 

 

982,628 

 

**2,543,024**

**Materials 6.7%**

 
**Chemicals 3.9%**

 
CF Industries Holdings, Inc.  

 

24,000 

 

3,208,800 

Minerals Technologies, Inc.  

 

14,900 

 

1,009,326 

 

 

 

 

NewMarket Corp.  

 

23,300 

 

1,512,869 

 

**5,730,995**

**Containers & Packaging 1.6%**

 
AptarGroup, Inc.  

 

4,400 

 

194,260 

Rock-Tenn Co. "A" (a) 

 

65,600 

 

2,225,808 

 

**2,420,068**

**Metals & Mining 0.0%**

 
Schnitzer Steel Industries, Inc. "A"  

 

400 

 

**35,200**

**Paper & Forest Products 1.2%**

 
Buckeye Technologies, Inc.*  

 

131,700 

 

1,136,571 

Glatfelter  

 

28,400 

 

414,356 

Schweitzer-Mauduit International, Inc.  

 

7,900 

 

174,827 

 

**1,725,754**

**Telecommunication Services 2.1%**

 
**Diversified Telecommunication Services 1.5%**

 
Alaska Communications Systems Group, Inc. (a) 

 

120,200 

 

1,343,836 

Atlantic Tele-Network, Inc.  

 

18,100 

 

563,453 

Cincinnati Bell, Inc.*  

 

63,600 

 

295,104 

 

**2,202,393**

**Wireless Telecommunication Services 0.6%**

 
Syniverse Holdings, Inc.*  

 

21,900 

 

344,049 

USA Mobility, Inc.*  

 

74,900 

 

534,786 

 

**878,835**

**Utilities 4.8%**

 
**Electric Utilities 2.7%**

 
ALLETE, Inc.  

 

700 

 

29,239 

Cleco Corp.  

 

25,300 

 

607,453 

Portland General Electric Co.  

 

84,400 

 

2,025,600 

Westar Energy, Inc. (a) 

 

58,900 

 

1,365,891 

 

**4,028,183**

**Gas Utilities 1.7%**

 
New Jersey Resources Corp.  

 

21,925 

 

698,311 

Southwest Gas Corp. (a) 

 

26,300 

 

759,281 

The Laclede Group, Inc.  

 

3,900 

 

147,498 

WGL Holdings, Inc.  

 

26,700 

 

875,760 

 

**2,480,850**

**Multi-Utilities 0.4%**

 
Black Hills Corp. (a) 

 

13,800 

 

**538,338**

**Total Common Stocks** (Cost $139,019,405)

 

**141,872,521**

 

**Closed End Investment Company 0.6%**

 
Apollo Investment Corp. (a) (Cost $855,761)

 

53,902 

 

**872,135**

 

**Principal**

**Amount ($)**

 

**Value ($)**

 

**Government & Agency Obligation 0.5%**

 
**US Treasury Obligation**

 
US Treasury Bill, 1.08% **, 7/17/2008 (b)  (Cost $715,344)

 

717,000 

 

**714,983**

 

 

**Shares**

 

**Value ($)**

 

 

 

 

 

**Securities Lending Collateral 16.9%**

 
Daily Assets Fund Institutional, 2.88%  (c) (d)(Cost $25,162,636)

 

 

25,162,636

 

**25,162,636**

 

**Cash Equivalents 0.7%**

 
Cash Management QP Trust, 2.54%  (c)(Cost $1,065,563)

 

 

1,065,563

 

**1,065,563**

 

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

 

**Value ($)**

**Total Investment Portfolio** (Cost $166,818,709) †

114.2

 

**169,687,838**

**Other Assets and Liabilities, Net**(a)

(14.2)

 

**(21,080,416)**

**Net Assets**

100.0

 

**148,607,422**

 

*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.*

****

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

*†*

*The cost for federal income tax purposes was $167,561,447.  At April 30, 2008, net unrealized appreciation for all securities based on tax cost was $2,126,391.  This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $14,269,558 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $12,143,167.*

*(a)*

*All or a portion of these securities were on loan amounting to $18,486,799. In addition, included in other assets and liabilities, net are pending sales amounting to $5,307,259 that is also on loan. The value of all securities loaned at April 30, 2008 amounted to $23,794,058 which is 16.0% of net assets.*

*(b)*

*At April 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.*

*REIT: Real Estate Investment Trust*

*At April 30, 2008, open futures contract purchased were as follows:*

**Futures**

 

 

**Expiration****Date**

 

**Contracts**

 

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

 

**Value ($)**

 

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

 

Russell E-Mini 2000 Index 

 

6/20/2008 

 

72 

 

5,105,068 

 

5,166,000 

 

**60,932**

 
 

 

**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 Small Cap Value Fund, a series of DWS Securities Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

June 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 Small Cap Value Fund, a series of DWS Securities Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

June 16, 2008

 

 

By:

/s/Paul Schubert

 

Paul Schubert

Chief Financial Officer and Treasurer

 

Date:                                        June 16, 2008

 

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