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        811-5357

DWS        Blue Chip Fund

(Exact name of registrant as specified in        charter)

 

222        South Riverside Plaza

Chicago, IL 60606

(Address of principal executive offices)                    (Zip code)

 

Paul Schubert

345 Park Avenue

New York, NY 10154

(Name and address of agent for        service)

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

Date of fiscal year end:10/31

Date of reporting        period:01/31/08

 

ITEM 1.        SCHEDULE OF INVESTMENTS

 

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

         

 

**DWS Blue        Chip Fund**

 

|                                                          | **Shares**              |   | **Value                        ($)** |
|---------------------------------------------------------------|-------------------------|--------|--------------------------------------|
|                                                               |
|                                                          | **Common Stocks 95.9%** |   |
| **Consumer Discretionary 12.0%**                              |                    |
| **Auto Components                        0.9%**               |                    |
| Autoliv, Inc.                                                 |                    | 22,400 |                                 | 1,118,880 |
| Cooper Tire & Rubber Co.                                  |                    | 4,500  |                                 | 76,815 |
| Johnson Controls, Inc.                                        |                    | 53,900 |                                 | 1,906,443 |
| Lear Corp.*                                                   |                    | 42,300 |                                 | 1,241,928 |
|                                                               |
|                                                          | **4,344,066**           |
| **Diversified Consumer Services                        0.3%** |                    |
| Capella Education Co.*                                        |                    | 2,200  |                                 | 138,776 |
| DeVry, Inc.                                                   |                    | 20,100 |                                 | 1,109,319 |
|                                                               |
|                                                          | **1,248,095**           |
|                                                               |                         |        |                                      |  |  |  |  |

| **Hotels Restaurants & Leisure                        2.1%**     |           |
|----------------------------------------------------------------------|----------------|
| McDonald's Corp.                                                     |           | 100,100 |   | 5,360,355 |
| Tim Hortons, Inc.                                                    |           | 2,800 |   | 95,900 |
| Yum! Brands, Inc.                                                    |           | 129,800 |   | 4,433,968 |
|                                                                      |
|                                                                 | **9,890,223**  |
| **Household Durables                        0.4%**                   |           |
| NVR, Inc.* (a)                                                       |           | 1,800 |   | 1,136,700 |
| Sony Corp. (ADR)                                                     |           | 17,800 |   | 845,322 |
|                                                                      |
|                                                                 | **1,982,022**  |
| **Leisure Equipment & Products                        0.3%**     |           |
| Hasbro, Inc.                                                         |           | 35,500 |   | 921,935 |
| Polaris Industries, Inc. (a)                                         |           | 6,900 |   | 299,736 |
|                                                                      |
|                                                                 | **1,221,671**  |
| **Media 2.9%**                                                       |           |
| DISH Network Corp. "A"*                                              |           | 39,600 |   | 1,118,304 |
| E.W. Scripps Co. "A"                                                 |           | 7,600 |   | 309,472 |
| Grupo Televisa SA (ADR)                                              |           | 7,400 |   | 164,946 |
| Liberty Global, Inc. "A"*                                            |           | 25,600 |   | 1,034,496 |
| Morningstar, Inc.*                                                   |           | 3,600 |   | 237,780 |
| Scholastic Corp.*                                                    |           | 4,600 |   | 157,642 |
| Shaw Communications, Inc. "B"                                        |           | 8,000 |   | 157,680 |
| The DIRECTV Group, Inc.*                                             |           | 307,700 |   | 6,947,866 |
| Time Warner, Inc.                                                    |           | 71,800 |   | 1,130,132 |
| Viacom, Inc. "B"*                                                    |           | 40,300 |   | 1,562,028 |
| Walt Disney Co.                                                      |           | 21,300 |   | 637,509 |
|                                                                      |
|                                                                 | **13,457,855** |
| **Multiline Retail                        0.8%**                     |           |
| Big Lots, Inc.*                                                      |           | 85,700 |   | 1,487,752 |
| Dollar Tree Stores, Inc.*                                            |           | 34,400 |   | 963,544 |
| Family Dollar Stores, Inc.                                           |           | 52,500 |   | 1,104,075 |
|                                                                      |
|                                                                 | **3,555,371**  |
| **Specialty Retail                        4.0%**                     |           |
| AutoZone, Inc.*                                                      |           | 32,700 |   | 3,952,776 |
| Best Buy Co., Inc.                                                   |           | 140,000 |   | 6,833,400 |
| Dick's Sporting Goods, Inc.*                                         |           | 50,600 |   | 1,647,030 |
| RadioShack Corp. (a)                                                 |           | 231,700 |   | 4,019,995 |
| The Sherwin-Williams Co.                                             |           | 8,500 |   | 486,285 |
| TJX Companies, Inc.                                                  |           | 43,000 |   | 1,357,080 |
|                                                                      |
|                                                                 | **18,296,566** |
| **Textiles, Apparel & Luxury                        Goods 0.3%** |           |
| Fossil, Inc.*                                                        |           | 27,200 |   | 924,256 |
| Polo Ralph Lauren Corp.                                              |           | 5,800 |   | 351,422 |
|                                                                      |
|                                                                 | **1,275,678**  |
| **Consumer Staples 8.8%**                                            |           |
| **Beverages                        3.0%**                            |           |
| Anheuser-Busch Companies, Inc.                                       |           | 30,100 |   | 1,400,252 |
| Coca-Cola Enterprises, Inc.                                          |           | 99,800 |   | 2,302,386 |
| Pepsi Bottling Group, Inc.                                           |           | 41,100 |   | 1,432,335 |
| PepsiCo, Inc.                                                        |           | 127,700 |   | 8,707,863 |
|                                                                      |
|                                                                 | **13,842,836** |
| **Food & Staples Retailing                        1.8%**         |           |
| Casey's General Stores, Inc.                                         |           | 5,100 |   | 132,600 |
| Costco Wholesale Corp.                                               |           | 47,300 |   | 3,213,562 |
|                                                                      |                |  |  |  |  |

| Kroger Co.                                                      |           | 182,000 |   | 4,631,900     |
|-----------------------------------------------------------------|----------------|---------|--------|---------------|
| Ruddick Corp.                                                   |           | 1,900   |   | 64,752        |
| SUPERVALU, Inc.                                                 |           | 4,700   |   | 141,282       |
|                                                                 |
|                                                            | **8,184,096**  |
| **Food Products                        0.2%**                   |           |
| Fresh Del Monte Produce, Inc.*                                  |           | 25,700  |   | 823,428       |
| Kellogg Co.                                                     |           | 5,400   |   | 258,660       |
| Pilgrim's Pride Corp.                                           |           | 2,400   |   | 58,632        |
|                                                                 |
|                                                            | **1,140,720**  |
| **Household Products                        1.6%**              |           |
| Colgate-Palmolive Co.                                           |           | 94,900  |   | **7,307,300** |
| **Personal Products                        0.1%**               |           |
| Herbalife Ltd.                                                  |           | 15,200  |   | **603,136**   |
| **Tobacco                        2.1%**                         |           |
| Altria Group, Inc.                                              |           | 81,900  |   | 6,209,658     |
| Loews Corp. - Carolina Group                                    |           | 43,900  |   | 3,605,507     |
|                                                                 |
|                                                            | **9,815,165**  |
| **Energy 12.2%**                                                |           |
| **Energy Equipment & Services                        3.6%** |           |
| ENSCO International, Inc.                                       |           | 59,800  |   | 3,056,976     |
| Global Industries Ltd.*                                         |           | 97,700  |   | 1,725,382     |
| Helmerich & Payne, Inc.                                     |           | 10,300  |   | 403,966       |
| Noble Corp.                                                     |           | 106,900 |   | 4,679,013     |
| Tidewater, Inc.                                                 |           | 14,100  |   | 746,736       |
| Transocean, Inc.*                                               |           | 50,266  |   | 6,162,612     |
|                                                                 |
|                                                            | **16,774,685** |
| **Oil, Gas & Consumable Fuels                        8.6%** |           |
| Chevron Corp.                                                   |           | 122,800 |   | 10,376,600    |
| ConocoPhillips                                                  |           | 89,200  |   | 7,164,544     |
| ExxonMobil Corp.                                                |           | 83,986  |   | 7,256,390     |
| Frontier Oil Corp.                                              |           | 60,300  |   | 2,126,781     |
| Frontline Ltd.                                                  |           | 28,200  |   | 1,200,474     |
| Hess Corp.                                                      |           | 1,500   |   | 136,245       |
| Marathon Oil Corp.                                              |           | 30,600  |   | 1,433,610     |
| Petro-Canada                                                    |           | 12,700  |   | 579,120       |
| Petroleo Brasileiro SA (ADR) (Preferred)                        |           | 53,100  |   | 4,954,761     |
| Royal Dutch Shell PLC "A" (ADR)                                 |           | 63,100  |   | 4,505,971     |
|                                                                 |
|                                                            | **39,734,496** |
| **Financials 14.9%**                                            |           |
| **Capital Markets                        5.2%**                 |           |
| Bank of New York Mellon Corp.                                   |           | 170,700 |   | 7,959,741     |
| Charles Schwab Corp.                                            |           | 33,500  |   | 747,050       |
| Morgan Stanley                                                  |           | 100,800 |   | 4,982,544     |
| Northern Trust Corp.                                            |           | 5,100   |   | 374,136       |
| optionsXpress Holdings, Inc.                                    |           | 5,900   |   | 160,008       |
| TD Ameritrade Holding Corp.*                                    |           | 38,800  |   | 727,888       |
| The Goldman Sachs Group, Inc.                                   |           | 44,900  |   | 9,014,573     |
|                                                                 |
|                                                            | **23,965,940** |
| **Commercial Banks                        0.5%**                |           |
| PNC Financial Services Group, Inc.                              |           | 36,100  |   | **2,368,882** |
| **Diversified Financial Services                        3.4%**  |           |
| Bank of America Corp.                                           |           | 176,400 |   | 7,823,340     |
|                                                                 |                |         |        |               |  |

| ING Groep NV (ADR)                                                   |           | 7,200   |   | 234,504       |
|----------------------------------------------------------------------|----------------|---------|--------|---------------|
| Interactive Brokers Group, Inc. "A"*                                 |           | 13,000  |   | 452,530       |
| JPMorgan Chase & Co.                                             |           | 148,300 |   | 7,051,665     |
|                                                                      |
|                                                                 | **15,562,039** |
| **Insurance                        5.6%**                            |           |
| ACE Ltd.                                                             |           | 67,500  |   | 3,937,950     |
| Allied World Assurance Co. Holdings Ltd.                             |           | 1,800   |   | 85,734        |
| Berkshire Hathaway, Inc. "B"*                                        |           | 500     |   | 2,275,000     |
| China Life Insurance Co., Ltd. "H" (ADR) (a)                         |           | 26,200  |   | 1,460,650     |
| Endurance Specialty Holdings Ltd.                                    |           | 6,300   |   | 255,276       |
| Hartford Financial Services Group, Inc.                              |           | 43,500  |   | 3,513,495     |
| MetLife, Inc.                                                        |           | 119,300 |   | 7,035,121     |
| PartnerRe Ltd.                                                       |           | 7,300   |   | 578,744       |
| The Travelers Companies, Inc.                                        |           | 53,000  |   | 2,549,300     |
| W.R. Berkley Corp.                                                   |           | 18,200  |   | 550,732       |
| XL Capital Ltd. "A"                                                  |           | 77,400  |   | 3,483,000     |
|                                                                      |
|                                                                 | **25,725,002** |
| **Real Estate Investment Trusts                        0.2%**        |           |
| ProLogis (REIT)                                                      |           | 12,000  |   | 712,200       |
| Vornado Realty Trust (REIT)                                          |           | 3,500   |   | 316,400       |
|                                                                      |
|                                                                 | **1,028,600**  |
| **Health Care 13.6%**                                                |           |
| **Biotechnology                        1.9%**                        |           |
| Cubist Pharmaceuticals, Inc.*                                        |           | 8,100   |   | 137,619       |
| Gilead Sciences, Inc.*                                               |           | 136,300 |   | 6,227,547     |
| Isis Pharmaceuticals, Inc.*                                          |           | 12,000  |   | 187,200       |
| Onyx Pharmaceuticals, Inc.*                                          |           | 22,800  |   | 1,083,684     |
| OSI Pharmaceuticals, Inc.*                                           |           | 32,500  |   | 1,296,100     |
|                                                                      |
|                                                                 | **8,932,150**  |
| **Health Care Equipment &                        Supplies 0.6%** |           |
| Baxter International, Inc.                                           |           | 18,400  |   | 1,117,616     |
| Becton, Dickinson & Co.                                          |           | 5,200   |   | 449,956       |
| Kinetic Concepts, Inc.*                                              |           | 27,600  |   | 1,373,928     |
|                                                                      |
|                                                                 | **2,941,500**  |
| **Health Care Providers &                        Services 5.7%** |           |
| Aetna, Inc.                                                          |           | 136,200 |   | 7,254,012     |
| Chemed Corp.                                                         |           | 1,300   |   | 66,599        |
| Coventry Health Care, Inc.*                                          |           | 33,900  |   | 1,918,062     |
| Health Net, Inc.*                                                    |           | 82,000  |   | 3,812,180     |
| Humana, Inc.*                                                        |           | 74,200  |   | 5,958,260     |
| McKesson Corp.                                                       |           | 26,300  |   | 1,651,377     |
| Medco Health Solutions, Inc.*                                        |           | 109,600 |   | 5,488,768     |
|                                                                      |
|                                                                 | **26,149,258** |
| **Life Sciences Tools &                        Services 0.6%**   |           |
| Invitrogen Corp.*                                                    |           | 30,500  |   | **2,612,935** |
| **Pharmaceuticals                        4.8%**                      |           |
| Bristol-Myers Squibb Co.                                             |           | 290,600 |   | 6,739,014     |
| Eli Lilly & Co.                                                  |           | 52,000  |   | 2,679,040     |
| Endo Pharmaceuticals Holdings, Inc.*                                 |           | 6,600   |   | 172,524       |
| Johnson & Johnson                                                |           | 31,200  |   | 1,973,712     |
| Merck & Co., Inc.                                                |           | 66,400  |   | 3,072,992     |
| Schering-Plough Corp.                                                |           | 196,600 |   | 3,847,462     |
| Sepracor, Inc.*                                                      |           | 131,700 |   | 3,719,208     |
|                                                                      |                |         |        |               |  |

| Warner Chilcott Ltd. "A"*                                          |           | 4,500   |   | 76,275        |
|--------------------------------------------------------------------|----------------|---------|--------|---------------|
|                                                                    |
|                                                               | **22,280,227** |
| **Industrials 11.8%**                                              |           |
| **Aerospace & Defense                        5.9%**            |           |
| Boeing Co.                                                         |           | 113,200 |   | 9,415,976     |
| General Dynamics Corp.                                             |           | 12,800  |   | 1,081,088     |
| Goodrich Corp.                                                     |           | 4,300   |   | 268,965       |
| Honeywell International, Inc.                                      |           | 98,400  |   | 5,812,488     |
| Lockheed Martin Corp.                                              |           | 75,000  |   | 8,094,000     |
| Northrop Grumman Corp.                                             |           | 31,500  |   | 2,499,840     |
|                                                                    |
|                                                               | **27,172,357** |
| **Airlines                        1.1%**                           |           |
| AMR Corp.*                                                         |           | 146,900 |   | 2,047,786     |
| Continental Airlines, Inc. "B"*                                    |           | 40,900  |   | 1,112,889     |
| US Airways Group, Inc.*                                            |           | 149,700 |   | 2,067,357     |
|                                                                    |
|                                                               | **5,228,032**  |
| **Commercial Services &                        Supplies 0.4%** |           |
| Allied Waste Industries, Inc.*                                     |           | 97,700  |   | 962,345       |
| Deluxe Corp.                                                       |           | 6,900   |   | 167,808       |
| IKON Office Solutions, Inc.                                        |           | 16,500  |   | 134,970       |
| The Brink's Co.                                                    |           | 5,200   |   | 315,276       |
| United Stationers, Inc.*                                           |           | 4,700   |   | 259,722       |
|                                                                    |
|                                                               | **1,840,121**  |
| **Construction & Engineering                        1.4%**     |           |
| Fluor Corp.                                                        |           | 38,500  |   | 4,684,295     |
| Perini Corp.*                                                      |           | 22,900  |   | 800,355       |
| Shaw Group, Inc.*                                                  |           | 17,700  |   | 1,000,050     |
|                                                                    |
|                                                               | **6,484,700**  |
| **Electrical Equipment                        0.3%**               |           |
| Belden, Inc.                                                       |           | 2,100   |   | 88,830        |
| Emerson Electric Co.                                               |           | 19,500  |   | 991,380       |
| GrafTech International Ltd.*                                       |           | 14,200  |   | 213,710       |
|                                                                    |
|                                                               | **1,293,920**  |
| **Industrial Conglomerates                        0.8%**           |           |
| General Electric Co.                                               |           | 82,500  |   | 2,921,325     |
| McDermott International, Inc.*                                     |           | 11,000  |   | 518,980       |
| Teleflex, Inc.                                                     |           | 1,400   |   | 82,768        |
|                                                                    |
|                                                               | **3,523,073**  |
| **Machinery                        1.3%**                          |           |
| AGCO Corp.*                                                        |           | 17,200  |   | 1,035,784     |
| Caterpillar, Inc.                                                  |           | 46,300  |   | 3,293,782     |
| PACCAR, Inc.                                                       |           | 28,550  |   | 1,339,566     |
| Robbins & Myers, Inc.                                          |           | 8,900   |   | 589,892       |
|                                                                    |
|                                                               | **6,259,024**  |
| **Marine                        0.1%**                             |           |
| Quintana Maritime Ltd.                                             |           | 16,800  |   | **410,592**   |
| **Road & Rail                        0.5%**                    |           |
| Ryder System, Inc.                                                 |           | 44,000  |   | **2,290,640** |
| **Information Technology 12.8%**                                   |           |
| **Communications Equipment                        0.2%**           |           |
| Juniper Networks, Inc.*                                            |           | 38,900  |   | **1,056,135** |
|                                                                    |                |         |        |               |  |

| **Computers & Peripherals                        3.9%**                  |           |
|------------------------------------------------------------------------------|----------------|
| Apple, Inc.*                                                                 |           | 46,400 |   | 6,280,704 |
| International Business Machines Corp.                                        |           | 76,700 |   | 8,232,978 |
| Lexmark International, Inc. "A"*                                             |           | 47,500 |   | 1,719,975 |
| QLogic Corp.*                                                                |           | 13,900 |   | 198,770 |
| Seagate Technology                                                           |           | 14,000 |   | 283,780 |
| Sun Microsystems, Inc.*                                                      |           | 60,100 |   | 1,051,750 |
|                                                                              |
|                                                                         | **17,767,957** |
| **Electronic Equipment &                        Instruments 0.7%**       |           |
| Arrow Electronics, Inc.*                                                     |           | 17,200 |   | 588,584 |
| AU Optronics Corp. (ADR) (a)                                                 |           | 102,500 |   | 1,700,475 |
| Dolby Laboratories, Inc. "A"*                                                |           | 19,200 |   | 827,328 |
|                                                                              |
|                                                                         | **3,116,387**  |
| **Internet Software & Services                        1.2%**             |           |
| eBay, Inc.*                                                                  |           | 64,600 |   | 1,737,094 |
| Google, Inc. "A"*                                                            |           | 6,800 |   | 3,837,240 |
|                                                                              |
|                                                                         | **5,574,334**  |
| **IT Services                        1.6%**                                  |           |
| Accenture Ltd. "A"                                                           |           | 127,100 |   | 4,400,202 |
| Computer Sciences Corp.*                                                     |           | 66,400 |   | 2,810,048 |
|                                                                              |
|                                                                         | **7,210,250**  |
| **Office Electronics                        0.0%**                           |           |
| Canon, Inc. (ADR)                                                            |           | 2,400 |   | **102,168** |
| **Semiconductors &                        Semiconductor Equipment 1.5%** |           |
| Amkor Technology, Inc.*                                                      |           | 40,600 |   | 310,184 |
| Applied Materials, Inc.                                                      |           | 296,100 |   | 5,306,112 |
| MEMC Electronic Materials, Inc.*                                             |           | 11,800 |   | 843,228 |
| Texas Instruments, Inc.                                                      |           | 18,300 |   | 566,019 |
|                                                                              |
|                                                                         | **7,025,543**  |
| **Software                        3.7%**                                     |           |
| Microsoft Corp.                                                              |           | 474,500 |   | 15,468,700 |
| Symantec Corp.*                                                              |           | 89,000 |   | 1,595,770 |
|                                                                              |
|                                                                         | **17,064,470** |
| **Materials 3.7%**                                                           |           |
| **Chemicals                        2.2%**                                    |           |
| Celanese Corp. "A"                                                           |           | 52,000 |   | 1,933,360 |
| CF Industries Holdings, Inc.                                                 |           | 43,600 |   | 4,662,148 |
| Terra Industries, Inc.*                                                      |           | 81,000 |   | 3,650,670 |
|                                                                              |
|                                                                         | **10,246,178** |
| **Containers & Packaging                        0.4%**                   |           |
| Owens-Illinois, Inc.*                                                        |           | 19,300 |   | 972,720 |
| Packaging Corp. of America                                                   |           | 27,900 |   | 676,296 |
|                                                                              |
|                                                                         | **1,649,016**  |
|                                                                         |           |
| **Metals & Mining                        1.1%**                          |           |
| AK Steel Holding Corp.*                                                      |           | 67,600 |   | 3,229,928 |
| Allegheny Technologies, Inc.                                                 |           | 12,600 |   | 887,040 |
| United States Steel Corp.                                                    |           | 9,300 |   | 949,623 |
|                                                                              |
|                                                                         | **5,066,591**  |
| **Telecommunication Services 4.9%**                                          |           |
| **Diversified Telecommunication                        Services 4.5%**       |           |
| AT&T, Inc.                                                               |           | 154,700 |   | 5,954,403 |
| CenturyTel, Inc.                                                             |           | 13,400 |   | 494,594 |
|                                                                              |                |  |  |  |  |

| Embarq Corp.                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                            | 81,800          |                                 | 3,705,540     |
|------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------|--------------------------------------|---------------|
| Telus Corp.                                                                        |                                                                                                                                                                                                                                                                                                                                                                                                            | 6,100           |                                 | 265,130       |
| Verizon Communications, Inc.                                                       |                                                                                                                                                                                                                                                                                                                                                                                                            | 247,600         |                                 | 9,616,784     |
| Windstream Corp.                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                            | 68,200          |                                 | 791,802       |
|                                                                                    |
|                                                                               | **20,828,253**                                                                                                                                                                                                                                                                                                                                                                                                  |
| **Wireless Telecommunication                        Services 0.4%**                |                                                                                                                                                                                                                                                                                                                                                                                                            |
| Mobile TeleSystems (ADR)                                                           |                                                                                                                                                                                                                                                                                                                                                                                                            | 4,700           |                                 | 390,899       |
| Telephone & Data Systems, Inc.                                                 |                                                                                                                                                                                                                                                                                                                                                                                                            | 9,800           |                                 | 516,852       |
| Vimpel-Communications (ADR)                                                        |                                                                                                                                                                                                                                                                                                                                                                                                            | 22,700          |                                 | 781,788       |
|                                                                                    |
|                                                                               | **1,689,539**                                                                                                                                                                                                                                                                                                                                                                                                   |
| **Utilities 1.2%**                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                            |
| **Electric Utilities                        0.3%**                                 |                                                                                                                                                                                                                                                                                                                                                                                                            |
| American Electric Power Co., Inc.                                                  |                                                                                                                                                                                                                                                                                                                                                                                                            | 19,000          |                                 | 813,770       |
| Edison International                                                               |                                                                                                                                                                                                                                                                                                                                                                                                            | 1,900           |                                 | 99,104        |
| FirstEnergy Corp.                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                            | 7,200           |                                 | 512,784       |
|                                                                                    |
|                                                                               | **1,425,658**                                                                                                                                                                                                                                                                                                                                                                                                   |
| **Independent Power Producers                        & Energy Traders 0.1%**   |                                                                                                                                                                                                                                                                                                                                                                                                            |
| Constellation Energy Group                                                         |                                                                                                                                                                                                                                                                                                                                                                                                            | 6,800           |                                 | **638,928**   |
| **Multi-Utilities                        0.8%**                                    |                                                                                                                                                                                                                                                                                                                                                                                                            |
| Sempra Energy                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                            | 63,400          |                                 | **3,544,060** |
|                                                                                    |
| **Total Common Stocks**(Cost                        $426,976,830)                  |                                                                                                                                                                                                                                                                                                                                                                                                            | **442,748,440** |
|                                                                               | **Principal****Amount ($)**                                                                                                                                                                                                                                                                                                                                                                                     |            | **Value                        ($)** |
|                                                                                    |
|                                                                               | **Government & Agency Obligation 0.2%**                                                                                                                                                                                                                                                                                                                                                                     |            |
| **US Treasury Obligation**                                                         |                                                                                                                                                                                                                                                                                                                                                                                                            |
| US Treasury Bill, 3.03% **, 4/17/2008 (b) (Cost                        $1,134,285) |                                                                                                                                                                                                                                                                                                                                                                                                            | 1,143,000       |                                 | **1,138,511** |
|                                                                               | **Shares**                                                                                                                                                                                                                                                                                                                                                                                                      |            | **Value                        ($)** |
|                                                                                    |
|                                                                               | **Securities Lending Collateral 1.6%**                                                                                                                                                                                                                                                                                                                                                                          |            |
| Daily Assets Fund Institutional, 4.22% (c) (d)(Cost $7,292,490)                    |                                                                                                                                                                                                                                                                                                                                                                                                            |            | 7,292,490                            |          | **7,292,490** |
|                                                                               | **Cash Equivalents 4.2%**                                                                                                                                                                                                                                                                                                                                                                                       |            |
| Cash Management QP Trust, 4.52% (c)(Cost $19,216,810)                              |                                                                                                                                                                                                                                                                                                                                                                                                            |            | 19,216,810                           |          | **19,216,810** |
|                                                                               | **%                        of****Net Assets**                                                                                                                                                                                                                                                                                                                                                                   |            | **Value                        ($)** |
|                                                                                    |
| **Total Investment Portfolio**(Cost $454,620,415)                                  | 101.9                                                                                                                                                                                                                                                                                                                                                                                                           |            | **470,396,251**                      |
| **Other Assets and Liabilities, Net**(a)                                           | (1.9)                                                                                                                                                                                                                                                                                                                                                                                                           |            | **(8,547,618)**                      |
|                                                                                    |
| **Net Assets**                                                                     | 100.0                                                                                                                                                                                                                                                                                                                                                                                                           |            | **461,848,633**                      |
|                                                                               | *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.*                                                                                                                                                                                                                                                                                                                               |
| *(a)*                                                                              | *All or a portion of these securities were on loan                        amounting to $5,572,661. In addition, included in other assets and                        liabilities, net is a pending sale amounting to $1,568,900, that is also on                        loan. The value of all securities loaned at January 31, 2008 amounted to                        $7,141,561 which is 1.5% of net assets.* |
| *(b)*                                                                              | *At January 31, 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.*                 |
| *ADR: American Depositary Receipt*                                                              |
| *REIT: Real Estate Investment Trust*                                                            |
| *At January 31, 2008, open futures contracts purchased                        were as follows:* |
| **Futures**                                                                                     |                                                                                                                                                                                    | **Expiration****Date** |   | **Contracts** |   | **Aggregated****Face****Value ($)** |   | **Value ($)** |   | **Unrealized****Appreciation ($)** |
|                                                                                                 |
|                                                                                            |
| S&P 500 Index                                                                               |                                                                                                                                                                                    | 3/19/2008 |   | 59 |   | 19,968,314 |   | 20,349,100 |   | **380,786** |   |
|                                                                                                 |                                                                                                                                                                                         |  |  |  |  |  |  |  |  |  |  |  |

         

| **ITEM 2.** | **CONTROLS AND PROCEDURES**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|-------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|        | (a)                                 The Chief Executive                        and Financial Officers concluded that the Registrant’s Disclosure                        Controls and Procedures are effective based on the evaluation of the                        Disclosure Controls and Procedures as of a date within 90 days of the                        filing date of this report.                                                                                                                                                                       |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|        | (b)                                 There have been no                        changes in the registrant’s internal control over financial reporting                        that occurred during the registrant’s last half-year (the                        registrant’s second fiscal half-year in the case of the annual                        report) that has materially affected, or is reasonably likely to materially                        affect, the registrant’s internal controls over financial                        reporting. |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **ITEM 3.** | **EXHIBITS**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|        | Certification pursuant to Rule 30a-2(a) under the Investment                        Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as                        Exhibit 99.CERT.                                                                                                                                                                                                                                                                                                                                                                                                                 |

 

**SIGNATURES**

 

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

 

| Registrant: | DWS Blue Chip Fund |
|-------------|--------------------|

 

| By: | /s/Michael G. Clark |
|-----|---------------------|

|   | Michael G. Clark |
|--------|------------------|

President

 

| Date: | March 17, 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 Blue Chip Fund |
|-------------|--------------------|

 

| By: | /s/Michael G. Clark |
|-----|---------------------|

|   | Michael G. Clark |
|--------|------------------|

President

 

| Date: | March 17, 2008 |
|-------|----------------|

 

 

| By: | /s/Paul Schubert |
|-----|------------------|

|   | Paul Schubert |
|--------|---------------|

Chief Financial Officer and Treasurer

 

| Date: | March 17, 2008 |
|-------|----------------|