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  811-42

DWS Portfolio 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: 08/31/08

 

ITEM 1.  SCHEDULE OF INVESTMENTS

 

| Investment Portfolio | **as of August 31, 2008  (Unaudited)** |
|----------------------|----------------------------------------|

 

 

**DWS Floating Rate Plus Fund**

 

|   | **Principal****Amount ($)** |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | **Value ($)** |
|--------|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|
|        |
|   | **Senior Loans* 87.6%**     |  
**Consumer Discretionary 26.9%**

 
Bombardier Recreational Products, Inc., Term Loan, LIBOR plus 2.5%, 5.707%, 6/28/2013 

 

500,000

 

442,500

Bresnan Communications LLC, Term Loan 2nd Lien, LIBOR plus 4.5%, 7.707%, 3/29/2014 

 

1,000,000

 

915,000

Buffets, Inc.:

 
 

Credit Link Deposit, LIBOR plus 2.75%, 5.957%, 5/1/2013 

 

117,445 

 

58,233 

 

Term Loan, LIBOR plus 2.75%, 5.957%, 11/1/2013 

 

879,195 

 

435,936 

CanWest MediaWorks LP:

 
 

Term Loan, LIBOR plus 2.0%, 5.207%, 7/10/2014 

 

493,750 

 

457,953 

 

Term Loan B, LIBOR plus 2.0%, 5.207%, 7/17/2014 

 

992,500 

 

952,800 

Charter Communications Operating LLC, Term Loan B, LIBOR plus 5.0%, 8.207%, 3/6/2014 

 

399,000

 

394,677

Dex Media West, Inc., Term Loan B, LIBOR plus 3.75%, 6.957%, 10/24/2014 

 

500,000

 

460,937

Dollar General Corp., Term Loan B, LIBOR plus 2.75%, 5.957%, 7/6/2014 

 

500,000

 

460,795

 

 

 

Golden Nugget, Inc., Term Loan, LIBOR plus 3.25%, 6.457%, 12/31/2014 

 

1,000,000

 

630,000

Gregg Appliances, Inc., Term Loan, LIBOR plus 2.25%, 5.457%, 7/13/2013 

 

892,500

 

807,713

Idearc, Inc., Term Loan B, LIBOR plus 2.0%, 5.207%, 11/17/2014 

 

987,469

 

699,083

Isle of Capri Casinos, Inc.:

 
 

Term Delay Draw, LIBOR plus 1.75%, 4.957%, 11/25/2013 

 

175,588 

 

151,298 

 

Term Loan, LIBOR plus 1.75%, 4.957%, 11/25/2013 

 

582,353 

 

501,793 

 

Term Loan B, LIBOR plus 1.75%, 4.957%, 11/25/2013 

 

232,941 

 

200,717 

Las Vegas Sand LLC (Venetian):

 
 

Term Delay Draw, LIBOR plus 1.75%, 4.957%, 5/23/2014 

 

167,364 

 

143,372 

 

Term Loan B, LIBOR plus 1.75%, 4.957%, 5/23/2014 

 

828,452 

 

709,689 

Local TV Finance LLC, Term Loan, LIBOR plus 2.0%, 5.207%, 5/7/2013 

 

495,000

 

433,125

Merrill Communications LLC, Term Loan 2nd Lien, LIBOR plus 6.5%, 9.707%, 11/15/2013 

 

400,000

 

286,000

MGM Holdings II, Inc., Term Loan B, LIBOR plus 3.25%, 6.457%, 4/8/2012 

 

494,937

 

379,040

National CineMedia LLC, Term Loan, LIBOR plus 1.75%, 4.957%, 2/13/2015 

 

500,000

 

453,250

Network Communications, Inc., Term Loan, LIBOR plus 2.0%, 5.207%, 11/30/2012 

 

927,773

 

811,801

New World Gaming Partners Holdings, Ltd.:

 
 

Term Delay Draw, LIBOR plus 2.25%, 5.457%, 1/19/2019 

 

166,667 

 

128,889 

 

Term Loan, LIBOR plus 2.25%, 5.457%, 7/19/2014 

 

829,167 

 

641,224 

Reader's Digest Association, Inc., Term Loan, LIBOR plus 2.0%, 5.207%, 3/2/2014 

 

987,500

 

802,344

Ticketmaster, Term Loan B, LIBOR plus 2.75%, 5.957%, 7/25/2014 

 

300,000

 

301,875

Toys "R" Us, Inc., Term Loan, LIBOR plus 4.25%, 7.457%, 7/19/2012 

 

995,025

 

954,294

Tribune Co., Term Loan B, LIBOR plus 3.0%, 6.207%, 5/17/2014 

 

990,000

 

685,080

Univision Communications, Inc.:

 
 

Term Delay Draw, LIBOR plus 2.25%, 5.457%, 9/29/2014 

 

33,557 

 

27,181 

 

Term Loan 1st Lien, LIBOR plus 2.25%, 5.457%, 10/20/2008 

 

966,443 

 

782,819 

 

**15,109,418**

**Consumer Staples 2.3%**

 
Advance Food Co., Inc., Term Loan 2nd Lien, LIBOR plus 4.25%, 7.457%, 9/16/2014 

 

750,000

 

645,000

New UNO Acquisition Corp., Term Loan B, LIBOR plus 3.75%, 6.957%, 8/7/2014 

 

200,000

 

201,097

Van Houtte, Inc.:

 
 

Term Loan B, LIBOR plus 2.5%, 5.707%, 7/19/2014 

 

435,600 

 

405,108 

 

Term Loan C, LIBOR plus 2.5%, 5.707%, 7/19/2014 

 

59,400 

 

55,242 

 

**1,306,447**

**Energy 7.7%**

 
Atlas Pipeline Partners LP, Term Loan, LIBOR plus 2.5%, 5.707%, 7/23/2014 

 

853,238

 

834,748

Calumet Specialty Products Partners LP:

 
 

Credit Link Deposit, LIBOR plus 4.0%, 7.207%, 1/3/2014 

 

114,943 

 

102,012 

 

Term Loan, LIBOR plus 4.0%, 7.207%, 1/3/2014 

 

866,690 

 

769,187 

CCS, Inc., Term Loan, LIBOR plus 3.0%, 6.207%, 11/14/2014 

 

498,747

 

442,638

Dresser, Inc., Term Loan 1st Lien, LIBOR plus 2.5%, 5.707%, 5/4/2014 

 

988,251

 

946,992

Express Energy Services Holding LP, Term Loan, LIBOR plus 5.25%, 8.457%, 7/10/2013 

 

500,000

 

495,000

Quicksilver Resources, Inc., Term Loan, LIBOR plus 4.5%, 7.707%, 8/8/2013 

 

750,000

 

746,250

 

**4,336,827**

**Financials 4.4%**

 
Algoma Acquisition Corp., Term Loan, LIBOR plus 2.5%, 5.707%, 6/20/2013 

 

708,611

 

674,066

Conseco, Inc., Term Loan, LIBOR plus 2.0%, 5.207%, 10/10/2013 

 

1,000,000

 

845,000

Nuveen Investments, Inc., Term Loan, LIBOR plus 3.0%, 6.207, 11/7/2014 

 

997,500

 

924,977

 

**2,444,043**

**Health Care 8.5%**

 
Community Health Systems, Inc., Term Loan, LIBOR plus 2.25%, 5.457%, 1/16/2009

 

907,024 

 

859,469 

HCA, Inc., Term Loan B, LIBOR plus 2.25%, 5.457%, 11/17/2013 

 

994,950

 

934,263

Health Management Associates, Inc., Term Loan B, LIBOR plus 1.75%, 4.957%, 2/28/2014 

 

950,263

 

874,836

Mylan, Inc., Term Loan B, LIBOR plus 3.25%, 6.457%, 10/2/2014 

 

995,000

 

987,368

 

 

 

 
Surgical Care Affiliates LLC, LIBOR plus 2.25%, 5.457%, 12/29/2014 

 

297,000

 

262,845

 
Symbol Merger Sub, Inc.:

 
 
 

Term Loan A, LIBOR plus 3.25%, 6.457%, 8/23/2013 

 

474,250 

 

426,825 

 
 

Term Loan B, LIBOR plus 3.25%, 6.457%, 8/23/2014 

 

474,250 

 

426,825 

 
 
 

**4,772,431**

 
**Industrials 14.4%**

 
 
Acosta, Inc., Term Loan, LIBOR plus 2.25%, 5.457%, 7/28/2013 

 

989,899

 

923,081

 
ARAMARK Corp.:

 
 
 

Credit Link Deposit, LIBOR plus 2.0%, 5.207%, 1/26/2014 

 

58,002 

 

55,098 

 
 

Term Loan, LIBOR plus 2.0%, 5.207%, 1/26/2014 

 

834,698 

 

792,905 

 
Asurion Corp., Term Loan, LIBOR plus 3.0%, 6.207%, 7/16/2014 

 

1,000,000

 

939,750

BE Aerospace, Inc., Term Loan B, LIBOR plus 2.75%, 5.957%, 7/25/2014 

 

400,000

 

401,000

 
FR Brand Acquisition Corp., Term Loan B, LIBOR plus 2.25%, 5.457%, 2/7/2014 

 

990,600

 

916,305

 
GenCorp, Inc.:

 
 
 

Credit Link Deposit, LIBOR plus 2.25%, 5.457%, 4/30/2013 

 

312,500 

 

303,125 

 
 

Term Loan, LIBOR plus 2.25%, 5.457%, 4/30/2013 

 

172,831 

 

167,646 

Getty Images, Inc., Term Loan B, LIBOR plus 4.0%, 7.207%, 7/2/2015 

 

875,000

 

874,890

 
Gleason Corp., Term Loan, LIBOR plus 2.0%, 5.207%, 6/30/2013 

 

243,728

 

230,932

 
Sabre, Inc., Term Loan, LIBOR plus 2.25%, 5.457%, 9/30/2014 

 

1,000,000

 

766,250

Travelport, Inc., Term Delay Draw, LIBOR plus 2.25%, 5.457%, 8/23/2013 

 

992,481

 

836,414

 
West Corp., Term Loan B2, LIBOR plus 2.375%, 5.582%, 10/24/2013 

 

994,962

 

874,572

 
 
 

**8,081,968**

 
**Information Technology 6.4%**

 
 
First Data Corp., Term Loan B1, LIBOR plus 2.75%, 5.957%, 9/24/2014 

 

992,500

 

913,155

 
JRD Holdings, Inc., Term Loan A, LIBOR plus 2.5%, 5.707%, 7/2/2014 

 

484,375

 

460,156

 
Macrovision Solutions Corp., Term Loan, LIBOR plus 3.75%, 6.957%, 5/2/2013 

 

400,000

 

400,250

 
SunGard Data Systems, Inc., Term Loan, LIBOR plus 2.0%, 5.207%, 2/28/2014 

 

994,950

 

937,432

 
Vangent, Inc., Term Loan, LIBOR plus 2.25%, 5.457%, 2/14/2013 

 

962,264

 

904,528

 
 
 

**3,615,521**

 
**Materials 5.8%**

 
 
Graphic Packaging International, Inc., Term Loan C, LIBOR plus 2.75%, 5.957%, 5/16/2014 

 

79,600

 

77,068

 
Ineos Holdings Ltd.:

 
 
 

Term Loan B-2, LIBOR plus 2.25%, 5.457%, 12/16/2013 

 

500,000 

 

431,382 

 
 

Term Loan C-2, LIBOR plus 2.75%, 5.957%, 12/16/2014 

 

500,000 

 

430,260 

 
Newpage Holding Corp., Term Loan B, LIBOR plus 3.75%, 6.957%, 12/7/2014 

 

995,000

 

974,195

 
Noranda Aluminum Holding Corp., Term Loan B, LIBOR plus 2.0%, 5.207%, 5/18/2014 

 

462,882

 

437,135

 
 

 

 

 

 

 

 
 

 

 

 

 

 
Novelis, Inc.:

 
 
 

Term Loan, LIBOR plus 2.0%, 5.207%, 7/6/2014 

 

680,625 

 

640,638 

 
 

Term Loan, LIBOR plus 2.0%, 5.207%, 7/14/2014 

 

309,375 

 

291,199 

 
 
 

**3,281,877**

 
**Telecommunication Services 8.3%**

 
 
Cavtel Holdings LLC, Term Loan, LIBOR plus 4.75%, 7.957%, 12/31/2012 

 

981,580

 

738,026

 
Gabriel Communications Finance Co., Term Loan B, LIBOR plus 3.25%, 6.457%, 5/31/2014 

 

990,000

 

907,914

 
Hughes Network Systems LLC, Term Loan, LIBOR plus 2.5%, 5.707%, 4/15/2014 

 

500,000

 

457,500

 
One Communications Corp., Term Loan C, LIBOR plus 3.5%, 6.707%, 4/19/2013 

 

744,097

 

656,293

 
Sorenson Communications, Inc., Term Loan C, LIBOR plus 2.5%, 5.707%, 8/16/2013 

 

936,328

 

894,488

 
Telesat LLC:

 
 
 

Term Delay Draw, LIBOR plus 3.0%, 6.207%, 10/31/2014 

 

82,597 

 

79,514 

 
 

Term Loan, LIBOR plus 3.0%, 6.207%, 10/31/2014 

 

962,486 

 

926,562 

 
 
 

**4,660,297**

 

 

 

 
**Utilities 2.9%**

 
 
Calpine Corp., Term Loan, LIBOR plus 2.875%, 6.082%, 3/29/2014 

 

242,451

 

225,883

 
NRG Energy, Inc.:

 
 
 

Credit Link Deposit, LIBOR plus 1.75%, 4.957%, 2/1/2013 

 

236,215 

 

224,779 

 
 

Term Loan, LIBOR plus 1.75%, 4.957%, 2/1/2013 

 

482,030 

 

458,692 

 
Texas Competitive Electric Holdings Co., LLC:

 
 
 

Term Loan B2, LIBOR plus 3.5%, 6.707%, 10/10/2014 

 

397,000 

 

370,500 

 
 

Term Loan B3, LIBOR plus 3.5%, 6.707%, 12/31/2012 

 

397,000 

 

370,427 

 
 
 

**1,650,281**

 
 
**Total Senior Loans** (Cost $53,739,501)

 

**49,259,110**

 
 

**Government & Agency Obligation 0.9%**

 
 
**US Treasury Obligation**

US Treasury Bill, 1.35% **, 10/16/2008 (a)  (Cost $479,190)

 

480,000 

 

**479,064**

 

**Shares**

 

**Value ($)**

 
 

**Cash Equivalents 11.7%**

 
 
Cash Management QP Trust, 2.44% (b)(Cost $6,608,375)

 

 

6,608,375

 

**6,608,375**

 
 

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

 

**Value ($)**

 
 
**Total Investment Portfolio** (Cost $60,827,066) †

100.2

 

**56,346,549**

 
**Other Assets and Liabilities, Net**

(0.2)

 

**(108,227)**

 
 
**Net Assets**

100.0

 

**56,238,322**

 
*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.*

 
***

*Senior loans in the Fund’s portfolio generally are subject to mandatory and/or optional payment. As a result, the actual remaining maturity of senior loans in the Fund’s portfolio may be substantially less than the stated maturities shown in this report. Senior loans pay interest at rates which vary based on prevailing interest rates, such as the prime rate offered by a major US bank or LIBOR, and are shown at their current rate as of August 31, 2008.*

 
****

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

 
*†*

*The cost for federal income tax purposes was $60,719,331.  At August 31, 2008, net unrealized depreciation for all securities based on tax cost was $4,372,782.  This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $215,161 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $4,587,943.*

 
*(a)*

*At August 31, 2008, this security has been pledged, in whole or in part, to cover initial margin requirements for open futures contracts.*

 
*(b)*

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

 
*LIBOR: Represents the London InterBank Offered Rate.*

 
*At August 31, 2008, the Fund had unfunded loan commitments of $46,404 which could be extended at the option of the borrower, pursuant to the following loan agreement:*

 

**Unfunded Loan**

 

**Unrealized**

 
**Borrower**

**Commitment ($)**

**Value ($)**

**Depreciation ($)**

 
Community Health Systems, Inc., Term Delay Draw, 7/16/2014

46,404

43,971

**(2,433)**

 
 

* *

* *

* *

 
 
*At August 31, 2008, open futures contracts purchased were as follows:*

 

 

 

 
**Futures**

 

**Expiration****Date**

 

**Contracts**

 

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

 

**Value ($)**

 

**Unrealized****Appreciation/****(Depreciation) ($)**

 
 
 

 
10 Year Australian Treasury Bond 

 

9/15/2008 

 

13 

 

1,087,437 

 

1,139,865 

 

52,428

 
 
10 Year US Treasury Note 

 

12/19/2008 

 

54 

 

6,240,768 

 

6,237,000 

 

(3,768)

 
 
United Kingdom Treasury Bond

 

12/29/2008 

 

31 

 

6,319,418 

 

6,324,985 

 

5,567

 
 
**Total net unrealized appreciation**

**54,227**

 
 
 

 

 
*At August 31, 2008, open futures contracts sold were as follows:*

 
**Futures**

 

 

**Expiration****Date**

 

**Contracts**

 

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

 

**Value ($)**

 

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

 
 
 

 
10 Year Federal Republic of Germany Bond 

 

9/8/2008 

 

38 

 

6,212,115 

 

6,364,181 

 

(152,066)

 
 
10 Year Japanese Government Bond 

 

9/9/2008 

 

36 

 

4,445,803 

 

4,576,706 

 

(130,903)

 
 
10 Year Canadian Government Bond

 

12/18/2008 

 

16 

 

1,792,812 

 

1,800,113 

 

(7,301)

 
 
**Total unrealized depreciation**

**(290,270)**

 
 

 

 

*As of August 31, 2008, the Fund had the following open  forward foreign currency exchange contracts:*

**Contracts to Deliver**

**In Exchange For**

**Settlement Date**

**Unrealized**

**Appreciation ($)**

 
AUD

1,190,000

USD

1,084,090

9/17/2008

67,756

 
AUD

1,907,000

USD

1,782,645

9/17/2008

153,948

 
CHF

1,961,000

USD

1,887,810

9/17/2008

108,069

 
CHF

331,000

USD

324,981

9/17/2008

24,576

 
GBP

514,000

USD

999,987

9/17/2008

66,150

 
SEK

9,771,000

USD

1,628,962

9/17/2008

114,153

 
SEK

177,000

USD

28,909

9/17/2008

1,469

 
SEK

2,648,000

USD

436,675

9/17/2008

26,153

 
SGD

1,758,000

USD

1,277,440

9/17/2008

36,034

 
**Total unrealized appreciation**

 

 

**598,308**

 
 

 

 

 

 

 

 
**Contracts to Deliver**

**In Exchange For**

**Settlement Date**

**Unrealized Depreciation ($)**

 
USD

1,513,808

CAD

1,579,000

9/17/2008

(28,699)

 
USD

559,908

CAD

571,000

9/17/2008

(22,861)

 
USD

77,885

CHF

82,000

9/17/2008

(3,464)

 
USD

1,589,596

EUR

1,031,000

9/17/2008

(78,762)

 
USD

24,728

EUR

16,000

9/17/2008

(1,282)

 
USD

517,230

GBP

261,000

9/17/2008

(43,045)

 
USD

493,011

GBP

253,000

9/17/2008

(33,360)

 
 

 

 

USD

723,841

JPY

77,244,000

9/17/2008

(12,572)

USD

541,142

JPY

58,252,000

9/17/2008

(4,752)

USD

168,547

JPY

17,868,000

9/17/2008

(4,017)

USD

3,830,832

NOK

19,964,000

9/17/2008

(157,857)

USD

945,616

NOK

4,826,000

9/17/2008

(57,729)

USD

259,307

SGD

351,000

9/17/2008

(11,449)

USD

4,792,829

SGD

6,550,000

9/17/2008

(167,569)

**Total unrealized depreciation**

 

 

**(627,418)**

 

 

 

***Currency Abbreviations*****

 

 

*AUD***

*Australian Dollar***

*JPY***

*Japanese Yen***

 
*CAD***

*Canadian Dollar***

*NOK***

*Norwegian Krone***

 
*CHF***

*Swiss Franc***

*SEK***

*Swedish Krona***

 
*EUR***

*Euro***

*SGD***

*Singapore Dollar***

 
*GBP***

*British Pound***

*USD***

*United States Dollar***

 
 

 

 

 

 

***Fair Value Measurements***

 

*The following is a summary of the inputs used as of August 31, 2008 in valuing the Fund's investments. Please see below for information on the Fund’s policy regarding valuation inputs, and their aggregate levels used in the table below:*

 

**Valuation Inputs**

**Investments in  Securities**

**Other Financial Instruments***††*

Level 1 

$                  6,608,375   

$                (236,043)   

Level 2

32,086,133

(31,543)

Level 3

17,652,041

-

**Total**

**$                56,346,549**

**$               (267,586)**

 

*†† Other financial instruments are derivative instruments not reflected in the Investment Portfolio, such as future contracts, forward foreign currency exchange contracts and unfunded loan commitments, which are valued at the unrealized appreciation (depreciation) on the instrument.*

 

*The following is a reconciliation of the Fund's Level 3 investments for which significant unobservable inputs were used in determining the value at August 31, 2008.*

 

 

**Investments in  Securities**

**Balance as of June 1, 2008**

$                  15,659,552

Total realized gain (loss)

721   

Change in unrealized appreciation (depreciation)

(198,314)   

 

 

 

Amortization Premium/Discount

31,252

Net purchases (sales)

2,158,830   

Net transfers in (out) of Level 3 

-   

**Balance as of August 31, 2008**

**$                 17,652,041**

**

*The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements ("FAS* *157"), effective at the beginning of the Fund’s fiscal year. FAS* *157 establishes a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs 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, credit risk, etc.).  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.*

 

**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 Floating Rate Plus Fund, a series of DWS Portfolio Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

October 22, 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 Floating Rate Plus Fund, a series of DWS Portfolio Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

October 22, 2008

 

 

By:

/s/Paul Schubert

 

Paul Schubert

Chief Financial Officer and Treasurer

 

Date:                                        October 22, 2008

  |