-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, I50kAlmS23y5+xnkZwd9rYrpY0krVXx2UJMuWmFRRo1WnE/HVfI5d+CgTDu+XsW2 C2DXJBAjzU3MZMg59mWmfQ== 0000088053-09-000200.txt : 20090227 0000088053-09-000200.hdr.sgml : 20090227 20090227135922 ACCESSION NUMBER: 0000088053-09-000200 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20081231 FILED AS OF DATE: 20090227 DATE AS OF CHANGE: 20090227 EFFECTIVENESS DATE: 20090227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DWS ADVISOR FUNDS CENTRAL INDEX KEY: 0000797657 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04760 FILM NUMBER: 09641542 BUSINESS ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 BUSINESS PHONE: 212-454-6778 MAIL ADDRESS: STREET 1: 345 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10154-0004 FORMER COMPANY: FORMER CONFORMED NAME: SCUDDER ADVISOR FUNDS DATE OF NAME CHANGE: 20030519 FORMER COMPANY: FORMER CONFORMED NAME: BT INVESTMENT FUNDS DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: BT TAX FREE INVESTMENT TRUST DATE OF NAME CHANGE: 19880530 0000797657 S000005729 DWS Mid Cap Growth Fund C000015728 Class A SMCAX C000015730 Class B SMCBX C000015731 Class C SMCCX C000015733 Class S SMCSX C000015734 Institutional Class BTEAX N-Q 1 nq123108af_mid.htm N-Q - DWS MID CAP GROWTH FUND

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)

 

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: 09/30

Date of reporting period:12/31/08

 

ITEM 1. SCHEDULE OF INVESTMENTS

 

Investment Portfolio

as of December 31, 2008 (Unaudited)

 

 

DWS Mid Cap Growth Fund

 

 

 

Shares

 

Value ($)

 

Common Stocks 92.3%

 

Consumer Discretionary 15.6%

 

Diversified Consumer Services 1.0%

 

Strayer Education, Inc. (a)

 

15,800

 

3,387,678

Hotels Restaurants & Leisure 1.5%

 

Darden Restaurants, Inc. (a)

 

190,200

 

5,359,836

Internet & Catalog Retail 1.5%

 

Priceline.com, Inc.* (a)

 

70,800

 

5,214,420

Specialty Retail 9.4%

 

American Eagle Outfitters, Inc.

 

385,700

 

3,610,152

Children's Place Retail Stores, Inc.* (a)

 

319,400

 

6,924,592

Guess?, Inc. (a)

 

524,900

 

8,057,215

 

 

 

Limited Brands, Inc. (a)

 

323,900

 

3,251,956

Tiffany & Co. (a)

 

101,000

 

2,386,630

Urban Outfitters, Inc.*

 

597,200

 

8,946,056

 

33,176,601

Textiles, Apparel & Luxury Goods 2.2%

 

Deckers Outdoor Corp.* (a)

 

45,700

 

3,650,059

Lululemon Athletica, Inc.*

 

229,300

 

1,818,349

Polo Ralph Lauren Corp. (a)

 

52,800

 

2,397,648

 

7,866,056

Consumer Staples 3.4%

 

Personal Products

Herbalife Ltd. (a)

 

414,200

 

8,979,856

NBTY, Inc.* (a)

 

192,300

 

3,009,495

 

11,989,351

Energy 9.5%

 

Energy Equipment & Services 2.9%

 

Cameron International Corp.*

 

162,700

 

3,335,350

CARBO Ceramics, Inc. (a)

 

110,300

 

3,918,959

FMC Technologies, Inc.*

 

135,200

 

3,221,816

 

10,476,125

Oil, Gas & Consumable Fuels 6.6%

 

Alpha Natural Resources, Inc.*

 

102,200

 

1,654,618

Petrohawk Energy Corp.* (a)

 

298,100

 

4,659,303

Range Resources Corp.

 

141,800

 

4,876,502

Southwestern Energy Co.* (a)

 

233,000

 

6,750,010

Ultra Petroleum Corp.* (a)

 

152,300

 

5,255,873

 

23,196,306

Financials 6.9%

 

Capital Markets 5.2%

 

Northern Trust Corp.

 

63,200

 

3,295,248

T. Rowe Price Group, Inc. (a)

 

182,200

 

6,457,168

TD Ameritrade Holding Corp.*

 

342,600

 

4,882,050

Waddell & Reed Financial, Inc. "A"

 

250,300

 

3,869,638

 

18,504,104

Diversified Financial Services 1.7%

 

MSCI, Inc. "A"* (a)

 

340,084

 

6,039,892

Health Care 16.0%

 

Biotechnology 2.4%

 

Alexion Pharmaceuticals, Inc.*

 

22,100

 

799,799

BioMarin Pharmaceutical, Inc.* (a)

 

53,000

 

943,400

Cephalon, Inc.* (a)

 

64,800

 

4,992,192

Genzyme Corp.*

 

24,400

 

1,619,428

 

8,354,819

Health Care Providers & Services 5.4%

 

AMERIGROUP Corp.* (a)

 

199,800

 

5,898,096

Humana, Inc.* (a)

 

84,700

 

3,157,616

McKesson Corp.

 

134,600

 

5,213,058

Pediatrix Medical Group, Inc.*

 

151,400

 

4,799,380

 

19,068,150

Life Sciences Tools & Services 4.2%

 

Covance, Inc.* (a)

 

89,700

 

4,128,891

 

 

 

Pharmaceutical Product Development, Inc. (a)

 

371,400

 

10,774,314

 

14,903,205

Pharmaceuticals 4.0%

 

Mylan, Inc.* (a)

 

1,047,900

 

10,363,731

Shire PLC (ADR) (a)

 

87,100

 

3,900,338

 

14,264,069

Industrials 12.0%

 

Aerospace & Defense 1.5%

 

Curtiss-Wright Corp. (a)

 

157,500

 

5,258,925

Construction & Engineering 0.8%

 

Aecom Technology Corp.* (a)

 

88,800

 

2,728,824

Electrical Equipment 3.1%

 

First Solar, Inc.* (a)

 

26,700

 

3,683,532

Roper Industries, Inc. (a)

 

164,500

 

7,140,945

 

10,824,477

Machinery 2.2%

 

Harsco Corp.

 

161,300

 

4,464,784

Joy Global, Inc.

 

152,600

 

3,493,014

 

7,957,798

Professional Services 4.4%

 

FTI Consulting, Inc.* (a)

 

54,800

 

2,448,464

Huron Consulting Group, Inc.* (a)

 

125,300

 

7,175,931

Robert Half International, Inc. (a)

 

280,900

 

5,848,338

 

15,472,733

Information Technology 20.3%

 

Communications Equipment 5.1%

 

Ciena Corp.* (a)

 

805,200

 

5,394,840

F5 Networks, Inc.* (a)

 

299,400

 

6,844,284

Juniper Networks, Inc.* (a)

 

326,800

 

5,722,268

 

17,961,392

Electronic Equipment, Instruments & Components 1.6%

 

Itron, Inc.* (a)

 

88,900

 

5,666,486

Internet Software & Services 2.6%

 

Omniture, Inc.* (a)

 

408,900

 

4,350,696

VeriSign, Inc.* (a)

 

238,500

 

4,550,580

 

8,901,276

IT Services 0.5%

 

ManTech International Corp. "A"*

 

33,400

 

1,809,946

Semiconductors & Semiconductor Equipment 4.3%

 

Broadcom Corp. "A"* (a)

 

346,400

 

5,878,408

Marvell Technology Group Ltd.*

 

519,900

 

3,467,733

Microchip Technology, Inc. (a)

 

168,000

 

3,281,040

Tessera Technologies, Inc.*

 

221,200

 

2,627,856

 

15,255,037

Software 6.2%

 

Adobe Systems, Inc.* (a)

 

150,400

 

3,202,016

Autodesk, Inc.* (a)

 

193,700

 

3,806,205

Blackboard, Inc.* (a)

 

209,600

 

5,497,808

Concur Technologies, Inc.* (a)

 

111,100

 

3,646,302

Electronic Arts, Inc.*

 

145,600

 

2,335,424

 

 

 

Salesforce.com, Inc.* (a)

 

107,800

 

3,450,678

 

21,938,433

Materials 4.0%

 

Chemicals 0.9%

 

Intrepid Potash, Inc.* (a)

 

149,200

 

3,098,884

Construction Materials 0.7%

 

Martin Marietta Materials, Inc.

 

26,300

 

2,553,204

Containers & Packaging 1.0%

 

Owens-Illinois, Inc.*

 

128,000

 

3,498,240

Metals & Mining 1.4%

 

Gerdau Ameristeel Corp. (a)

 

811,401

 

4,917,090

Telecommunication Services 2.6%

 

Wireless Telecommunication Services

American Tower Corp. "A"*

 

310,300

 

9,097,996

Utilities 2.0%

 

Electric Utilities

Allegheny Energy, Inc.

 

209,000

 

7,076,740

Total Common Stocks (Cost $421,961,937)

 

325,818,093

 

Securities Lending Collateral 41.4%

 

Daily Assets Fund Institutional, 1.69% (b) (c)
(Cost $146,401,265)

 

 

146,401,265

 

146,401,265

 

Cash Equivalents 8.0%

 

Cash Management QP Trust, 1.42% (b)
(Cost $28,255,470)

 

 

28,255,470

 

28,255,470

 

% of
Net Assets

 

Value ($)

Total Investment Portfolio (Cost $596,618,672) †

141.7

 

500,474,828

Other Assets and Liabilities, Net (a)

(41.7)

 

(147,366,245)

Net Assets

100.0

 

353,108,583

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

*

Non-income producing security.

The cost for federal income tax purposes was $596,618,672. At December 31, 2008, net unrealized depreciation for all securities based on tax cost was $96,143,844. This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $16,332,890 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $112,476,734.

(a)

All or a portion of these securities were on loan amounting to$144,823,957. In addition, included in other assets and liabilities, net is a pending sale $562,392, that is also on loan. The value of all securities loaned at December 31, 2008 amounted to $145,386,349 which is 41.2% of net assets.

(b)

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

(c)

Represents collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates.

ADR: American Depositary Receipt

 

Fair Value Measurements

 

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

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

 

The following is a summary of the inputs used as of December 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

Level 1

$ 472,219,358

Level 2

28,255,470

Level 3

-

Total

$ 500,474,828

 

 

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 Mid Cap Growth Fund, a series of DWS Advisor Funds

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

February 20, 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 Mid Cap Growth Fund, a series of DWS Advisor Funds

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

February 20, 2008

 

 

By:

/s/Paul Schubert

 

Paul Schubert

Chief Financial Officer and Treasurer

 

Date:                                        February 20, 2008

 

EX-99.CERT 2 certifications.htm CERTIFICATIONS

CERTIFICATIONS

I, Michael G. Clark, certify that:

 

1.

I have reviewed this report on Form N-Q of DWS Mid Cap Growth Fund, a series of DWS Advisor Funds;

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

 

4.

The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

 

(d)

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

5.

The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

(a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

 

(b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Registrant:

DWS Mid Cap Growth Fund, a series of DWS Advisor Funds

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

February 20, 2009

 

CERTIFICATIONS

I, Paul Schubert, certify that:

 

1.

I have reviewed this report on Form N-Q of DWS Mid Cap Growth Fund, a series of DWS Advisor Funds;

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

 

4.

The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

 

(d)

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

5.

The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

(a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

 

(b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Registrant:

DWS Mid Cap Growth Fund, a series of DWS Advisor Funds

 

By:

/s/Paul Schubert

 

Paul Schubert

Chief Financial Officer and Treasurer

 

Date:

February 20, 2009

 

 

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