N-Q 1 nq0131008bcf.htm

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