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 811-04760

DWS Advisor Funds

(Exact name of registrant as specified in charter)

One South Street

Baltimore, MD 21202

(Address of principal executive offices) (Zip code)

Paul Schubert

345 Park Avenue

New York, NY 10154

(Name and address of agent for service)

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

Date of fiscal year end: 12/31

Date of reporting period: 09/30/06

Form N-Q is to be used by registered management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

ITEM 1. SCHEDULE OF INVESTMENTS

Investment Portfolio

as of September 30, 2006 (Unaudited)

Cash Management Portfolio

		Principal Amount ($)		Value ($)

	Certificates of Deposit and Bank Notes 33.4%
ABN AMRO Bank, NV:
	5.36%, 1/11/2007		35,000,000	34,999,845
	5.365%, 3/5/2007		38,000,000	37,998,023
Bank of America NA:
	5.33%, 10/27/2006		50,000,000	50,000,000
	5.36%, 11/9/2006		125,000,000	125,000,000
Bank of Novia Scotia, 5.335%, 12/28/2006			68,000,000	67,997,288
Bank of Tokyo-Mitsubishi-UFJ, Ltd.:
	5.3%, 10/2/2006		85,000,000	85,000,000
	5.31%, 10/24/2006		80,000,000	80,000,000
Banque Federative du Credit Mutuel, 5.33%, 1/31/2007			60,000,000	60,000,000
Barclays Bank PLC, 5.44%, 2/20/2007			40,000,000	40,006,015
BNP Paribas, 5.555%, 12/28/2006			30,000,000	30,009,680
Calyon:
	4.75%, 10/25/2006		76,000,000	76,000,000
	4.75%, 11/14/2006		25,000,000	25,000,000
	5.32%, 4/27/2007		45,000,000	45,000,000
Canadian Imperial Bank of Commerce:
	4.75%, 11/14/2006		25,000,000	25,000,000
	4.75%, 12/15/2006		40,000,000	40,000,000
	5.4%, 10/6/2006		75,000,000	75,000,795
Citibank, NA, 5.44%, 11/3/2006			62,000,000	62,000,000
Credit Agricole SA, 5.53%, 12/27/2006			25,000,000	25,008,047
Credit Suisse, 5.29%, 10/6/2006			23,800,000	23,800,000
HBOS Treasury Services PLC:
	5.305%, 4/19/2007		50,000,000	50,000,000
	5.31%, 12/29/2006		40,000,000	40,000,000
	5.34%, 12/7/2006		200,000,000	200,000,000
	5.37%, 11/13/2006		100,000,000	100,000,613
Mizuho Corporate Bank:
	5.36%, 10/16/2006		42,000,000	42,000,173
	5.375%, 11/27/2006		45,000,000	45,000,000
	5.375%, 11/30/2006		80,000,000	80,000,658
Monument Gardens Funding LLC, 5.29%, 11/29/2006			16,980,000	16,832,788
Natexis Banque Populaires:
	4.787%, 1/23/2007		77,000,000	76,780,069
	5.0%, 2/8/2007		10,000,000	10,000,000
	5.0%, 2/9/2007		25,000,000	25,000,000
	5.345%, 12/28/2006		80,000,000	79,999,237
Nordea Bank Finland PLC, 4.75%, 12/4/2006			40,000,000	40,000,000
Norinchukin Bank:
	5.34%, 11/13/2006		25,000,000	25,000,000
	5.38%, 11/20/2006		75,000,000	75,000,000
	5.405%, 3/15/2007		75,000,000	75,000,000
Royal Bank of Scotland PLC:
	4.4%, 10/4/2006		55,000,000	55,000,000
	4.75%, 11/14/2006		25,000,000	25,000,000
Societe Generale:
	4.79%, 11/17/2006		50,000,000	50,003,051
	5.32%, 2/20/2007		20,000,000	20,000,000

	5.43%, 12/11/2006	89,000,000		89,006,894
	5.43%, 2/5/2007	40,000,000		40,006,202
Svenska Handelsbanken AB, 5.335%, 12/6/2006		25,000,000		25,000,000
UBS AG:
	5.29%, 10/10/2006	60,000,000		60,000,000
	5.295%, 10/24/2006	125,000,000		125,000,000
	5.3%, 11/13/2006	50,000,000		50,000,000
UniCredito Italiano SpA:
	5.385%, 2/15/2007	50,000,000		49,998,469
	5.4%, 3/14/2007	65,000,000		65,000,000
Wells Fargo Bank, NA:
	4.79%, 1/17/2007	50,000,000		50,005,545
	5.27%, 10/27/2006	20,300,000		20,299,708

Total Certificates of Deposit and Bank Notes (Cost $2,712,753,100)			2,712,753,100
	Commercial Paper 21.7%**
AB Spintab, 5.265%, 12/6/2006		58,000,000		57,440,155
Alliance & Leicester, 5.25%, 11/29/2006		35,000,000		34,698,854
Atlantis One Funding Corp., 5.36%, 10/3/2006		30,000,000		29,991,067
Bank of America Corp., 5.37%, 11/9/2006		50,000,000		49,709,125
Citibank Credit Card Issuance Trust, Series 01-A3, 5.35%, 11/1/2006		100,000,000		99,539,306
Compass Securitization LLC, 5.28%, 10/23/2006		40,000,000		39,870,933
CRC Funding, LLC, 5.35%, 11/6/2006		30,000,000		29,839,500
Dorada Finance, Inc., 5.33%, 11/8/2006		30,000,000		29,831,217
Fox Trot CDO, Inc., 5.29%, 10/25/2006		25,368,000		25,278,536
General Electric Capital Corp., 5.29%, 11/8/2006		175,000,000		174,022,819
Giro Funding US Corp., 5.29%, 1/22/2007		80,000,000		78,671,622
Irish Life & Permanent PLC:
	5.27%, 12/21/2006	50,000,000		49,407,125
	5.29%, 11/21/2006	50,000,000		49,625,292
	5.3%, 11/8/2006	42,000,000		41,765,033
Jupiter Securitization Corp., 5.26%, 10/24/2006		76,704,000		76,446,232
Kitty Hawk Funding Corp., 5.27%, 10/16/2006		30,000,000		29,934,125
Lake Constance Funding LLC:
	5.29%, 10/13/2006	5,300,000		5,290,654
	5.33%, 11/6/2006	20,000,000		19,893,400
Liberty Street Funding:
	5.265%, 10/2/2006	50,000,000		49,992,687
	5.27%, 10/27/2006	40,000,000		39,847,756
Natexis US Finance Co. LLC, 4.588%, 10/20/2006		100,000,000		99,757,856
Nationwide Building Society, 5.355%, 11/1/2006		80,000,000		79,631,100
Nieuw Amsterdam Receivables Corp., 5.27%, 10/26/2006		78,651,000		78,363,159
Perry Global Funding LLC:
	Series A, 5.245%, 12/21/2006	60,452,000		59,738,591
	Series A, 5.29%, 12/21/2006	65,093,000		64,318,231
Scaldis Capital LLC:
	5.265%, 10/25/2006	80,000,000		79,719,200
	5.36%, 11/3/2006	26,048,000		25,920,017
Sheffield Receivables Corp.:
	5.27%, 10/10/2006	30,000,000		29,960,475
	5.33%, 11/6/2006	35,000,000		34,813,450
Simba Funding Corp.:
	5.27%, 3/21/2007	32,200,000		31,393,954
	5.29%, 12/19/2006	100,000,000		98,839,139
The Bear Stearns Companies, Inc., 5.28%, 10/12/2006		50,000,000		49,919,333
Westpac Banking Corp., 5.36%, 1/5/2007		16,935,000		16,692,942

Total Commercial Paper (Cost $1,760,162,885)			1,760,162,885
	Master Notes 0.6%
The Bear Stearns Companies, Inc., 5.495% *, 10/2/2006 (a) (Cost $50,000,000)		50,000,000		50,000,000
	US Government Sponsored Agencies 0.6%

Federal Home Loan Mortgage Corp.:
	5.35%, 5/25/2007		5,000,000		5,000,000
	5.4%, 6/18/2007		29,000,000		29,000,000
Federal National Mortgage Association, 5.257% *, 12/22/2006			10,000,000		9,998,672

Total US Government Sponsored Agencies (Cost $43,998,672)				43,998,672
	*Funding Agreements 3.6%**
Genworth Life Insurance Co.:
	5.396%, 1/25/2007		75,000,000		75,000,000
	5.45%, 9/4/2007		105,000,000		105,000,000
New York Life Insurance Co., 5.45%, 9/18/2007			80,000,000		80,000,000
Travelers Insurance Co., 5.44%, 3/30/2007			30,000,000		30,000,000

Total Funding Agreements (Cost $290,000,000)				290,000,000
	Asset Backed 1.4%
Interstar Millennium, “A1”, Series 2006-G, 5.306%*, 5/25/2011			55,000,000		55,000,000
Mound Financing No.5 PLC, Series 1A, 5.3%*, 5/8/2007			35,000,000		35,000,000
Steers Mercury III Trust, 144A, 5.346%*, 5/27/2048			25,000,000		25,000,000

Total Asset Backed (Cost $115,000,000)				115,000,000
	*Promissory Notes 3.1%**
The Goldman Sachs Group, Inc.:
	5.42%, 11/10/2006		150,000,000		150,000,000
	5.426%, 11/13/2006		25,000,000		25,000,000
	5.495%, 1/16/2007		75,000,000		75,000,000

Total Promissory Notes (Cost $250,000,000)				250,000,000
	*Short Term Notes 26.7%**
American Express Centurion Bank:
	5.28%, 9/13/2007		50,000,000		50,000,000
	5.286%, 1/26/2007		44,000,000		44,000,000
	5.3%, 4/10/2007		175,000,000		175,000,000
	5.42%, 7/19/2007		72,370,000		72,438,320
Australia & New Zealand Banking Group Ltd., 5.33%, 7/23/2007			30,000,000		30,000,000
BMW US Capital LLC, 144A, 5.302%, 10/5/2007			10,000,000		10,000,000
Caja de Ahorros y Monte de Piedad de Madrid, 5.368%, 10/19/2007			50,000,000		50,000,000
Calyon, 5.261%, 10/3/2007		75,000,000 74,974,028
Carrera Capital Finance LLC:
	5.32%, 8/24/2007		70,000,000		70,000,000
	144A, 5.375%, 3/22/2007		30,000,000		30,000,000
CIT Group, Inc., 5.605%, 2/15/2007			62,000,000		62,045,586
Commonwealth Bank of Australia, 5.33%, 8/24/2007			40,000,000		40,000,000
Credit Agricole SA, 5.293%, 6/28/2007			50,000,000		49,982,849
DNB NOR Bank ASA, 5.32%, 9/25/2007			50,000,000		50,000,000
General Electric Capital Corp., 5.29%, 8/17/2007			60,000,000		60,000,000
HSBC Finance Corp.:
	5.32%, 2/6/2007		75,000,000		75,000,000
	5.36%, 4/24/2007		25,000,000		25,000,000
International Business Machine Corp., 5.32%, 12/8/2010			66,000,000		66,000,000
Intesa Bank Ireland PLC, 5.33%, 7/25/2007			40,000,000		40,000,000
K2 (USA) LLC, 144A, 5.31%, 7/16/2007			40,000,000		39,999,894
Links Finance LLC, 144A, 5.335%, 8/15/2007			39,000,000		39,008,256
M&I Marshall & Ilsley Bank, 5.31%, 12/15/2006			56,000,000		56,000,000
Merrill Lynch & Co., Inc.:
	5.295%, 5/14/2007		25,000,000		25,000,000
	5.31%, 8/24/2007		80,000,000		80,000,000
	5.34%, 10/15/2007		35,000,000		35,000,000
	5.425%, 5/29/2007		25,000,000		25,000,000
	5.456%, 2/2/2007		35,000,000		35,000,000
Morgan Stanley, 5.445%, 2/5/2007			100,000,000		100,000,000
Natexis Banque Populaires, 5.42%, 8/31/2007			50,000,000		50,000,000
Nordea Bank AB, 5.31%, 4/8/2011			40,000,000		40,000,000

Northern Rock PLC, 5.33%, 2/5/2007

30,000,000

Skandinaviska Enskilda Banken, 5.33%, 9/18/2007

50,000,000

Tango Finance Corp.:

144A, 5.3%, 9/24/2007

50,000,000

49,995,124

144A, 5.3%, 10/3/2007

25,000,000

24,997,483

The Bear Stearns Companies, Inc., 5.445%, 10/18/2006

94,000,000

Toyota Motor Credit Corp., 5.32%, 5/14/2007

100,000,000

UniCredito Italiano Bank (Ireland) PLC:

5.34%, 6/15/2007

75,000,000

144A, 5.34%, 10/12/2007

45,000,000

UniCredito Italiano SpA, 5.425%, 10/4/2006

100,000,000

99,999,599

Total Short Term Notes (Cost $2,168,441,139)

2,168,441,139

Time Deposit 1.2%

Credit Suisse, 5.375%, 10/2/2006 (Cost $100,000,000)

100,000,000

100,000,000

Repurchase Agreements 6.1%

Banc of America Securities LLC, 5.39%, dated 9/29/2006, to be repurchased at $140,026,426 on 10/2/2006 (b)

139,963,559

BNP Paribas, 5.39%, dated 9/29/2006, to be repurchased at $55,024,704 on 10/2/2006 (c)

55,000,000

Citigroup Global Markets, Inc., 5.0%, dated 9/29/2006, to be repurchased at $50,020,833 on 10/2/2006 (d)

50,000,000

Countrywide Securities Corp., 5.27%, dated 9/29/2006, to be repurchased at $2,000,878 on 10/2/2006 (e)

2,000,000

Lehman Brothers, Inc., 5.01%, dated 9/29/2006, to be repurchased at $32,713,652 on 10/2/2006 (f)

32,700,000

UBS Securities LLC, 5.02%, dated 9/29/2006, to be repurchased at $54,934,206 on 10/2/2006 (g)

54,911,235

UBS Securities LLC, 5.38%, dated 9/29/2006, to be repurchased at $160,071,733 on 10/2/2006 (h)

160,000,000

Total Repurchase Agreements (Cost $494,574,794)

494,574,794

% of

Net Assets

Value ($)

Total Investment Portfolio (Cost $ 7,984,930,590)

98.4

7,984,930,590

Other Assets and Liabilities, Net

1.6

130,762,959

Net Assets

100.0

8,115,693,549

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.

Floating rate notes are securities whose yields vary with a designated market index or market rate, such as the coupon-equivalent of the US Treasury bill rate. These securities are shown at their current rate as of September 30, 2006.

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

(a)

Reset date; not a maturity date.

(b)

Collateralized by $143,509,235 Federal National Mortgage Association, with various coupon rates from 4.5-7.5%, with various maturities from 5/1/2015-9/1/2036, with a value of $144,162,467.

(c)

Collateralized by:

Principal

Maturity

Collateral

Amount ($)

Security

Rate (%)

Date

Value ($)

55,550,000

Federal Home Loan Bank

5.625

8/15/2008

55,984,123

125,000

International Bank for Reconstruction & Development

4.125

8/12/2009

123,578

Total Collateral Value

56,107,701

(d)	Collateralized by $52,560,522 Federal National Mortgage Association, 4.5%, maturing on 9/1/2020, with a value of $51,000,000.
(e)	Collateralized by $2,088,840 Government National Mortgage Association, 5.0%, maturing on 9/15/2036, with a value of $2,040,001.
(f)	Collateralized by $25,329,000 US Treasury Bonds, with various coupon rates from 6.625-8.125%, with various maturities from 8/15/2021-2/15/2027, with a value of $33,356,109.
(g)	Collateralized by $54,095,000 US Treasury Note, 5.125%, maturing on 6/30/2011, with a value of $56,014,466.

(h)	Collateralized by $212,345,255 Federal National Mortgage Association STRIPS, with various maturities from 9/1/2033-8/1/2035, with a value of $164,800,540.
144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.
STRIPS: Separate Trading of Registered Interest and Principal Securities.

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:

Money Market Fund Investment, a series of DWS Advisor Funds

By:	/s/Michael G. Clark

Michael G. Clark

President

Date:

November 21, 2006

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:

Money Market Fund Investment, a series of DWS Advisor Funds

By:	/s/Michael G. Clark

Michael G. Clark

President

Date:

November 21, 2006

By:	/s/Paul Schubert

Paul Schubert

Chief Financial Officer and Treasurer

Date: November 21, 2006