N-Q 1 nq053107int_int.htm N-Q FILING - DWS INTERNATIONAL 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 811-642

DWS International Fund, Inc.

(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

(Name and address of agent for service)

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

Date of fiscal year end: 08/31

Date of reporting period: 05/31/07

 

ITEM 1. SCHEDULE OF INVESTMENTS

 

Investment Portfolio

as of May 31, 2007 (Unaudited)

 

 

DWS International Fund

 

 

Shares

 

Value ($)

 

Common Stocks 96.1%

 

Australia 2.4%

 

Australia & New Zealand Banking Group Ltd.

 

941,398

 

22,481,481

Leighton Holdings Ltd.

 

670,533

 

24,707,942

(Cost $34,980,265)

 

47,189,423

Austria 1.2%

 

Erste Bank der oesterreichischen Sparkassen AG* (a) (Cost $19,691,707)

 

308,631

 

24,210,717

Belgium 4.0%

 

InBev NV

 

241,600

 

20,353,551

KBC Groep NV

 

410,400

 

56,629,480

(Cost $61,922,931)

 

76,983,031

 

 


 

 

Brazil 0.3%

 

Petroleo Brasileiro SA (ADR) (a) (Cost $1,669,535)

 

46,330

 

5,011,053

Canada 1.7%

 

Shoppers Drug Mart Corp. (Cost $29,093,935)

 

683,400

 

32,214,873

Denmark 0.7%

 

Novo Nordisk AS "B" (Cost $8,486,325)

 

138,000

 

14,533,401

Finland 1.5%

 

Nokian Renkaat Oyj (a) (Cost $12,405,788)

 

824,210

 

28,723,490

France 2.9%

 

Total SA (a)

 

591,466

 

44,567,407

Vallourec SA

 

36,805

 

11,779,030

(Cost $22,438,431)

 

56,346,437

Germany 11.5%

 

BASF AG (a)

 

158,123

 

19,582,639

Bayer AG (a)

 

442,600

 

31,855,437

Commerzbank AG (a)

 

108,290

 

5,327,140

Continental AG (a)

 

91,978

 

13,008,510

E.ON AG (a)

 

171,253

 

28,153,855

Fresenius Medical Care AG & Co. (a)

 

101,627

 

14,916,049

GEA Group AG*

 

340,483

 

10,981,534

Hochtief AG

 

73,348

 

8,502,431

Hypo Real Estate Holding AG (a)

 

507,244

 

35,006,539

Merck KGaA (a)

 

107,568

 

14,156,826

Siemens AG (Registered)

 

185,629

 

24,462,762

Stada Arzneimittel AG (a)

 

269,334

 

17,398,926

(Cost $130,160,001)

 

223,352,648

Greece 2.1%

 

Hellenic Telecommunications Organization SA*

 

619,920

 

19,768,947

National Bank of Greece SA*

 

361,000

 

21,557,285

(Cost $23,279,754)

 

41,326,232

Hong Kong 2.6%

 

Cheung Kong (Holdings) Ltd.

 

2,064,000

 

26,750,098

Esprit Holdings Ltd.

 

1,989,500

 

24,497,874

(Cost $48,735,686)

 

51,247,972

Indonesia 0.5%

 

PT Telekomunikasi Indonesia (ADR) (Cost $9,169,902)

 

211,900

 

9,313,005

Italy 3.7%

 

Banca Italease (a)

 

490,380

 

24,050,818

UniCredito Italiano SpA

 

5,051,000

 

47,404,671

(Cost $62,263,980)

 

71,455,489

Japan 16.6%

 

Canon, Inc.

 

1,114,300

 

65,557,831

Daito Trust Construction Co., Ltd.

 

189,300

 

10,032,744

Japan Tobacco, Inc.

 

9,611

 

50,068,808

Komatsu Ltd.

 

1,003,000

 

26,620,296

Mitsui Fudosan Co., Ltd.

 

811,000

 

25,522,843

Mizuho Financial Group, Inc.

 

4,648

 

32,883,550

ORIX Corp.

 

101,150

 

27,095,234

 

 


 

 

Sumitomo Corp.

 

506,000

 

9,188,661

Suzuki Motor Corp.

 

934,000

 

26,093,673

Toyota Motor Corp.

 

505,800

 

30,339,688

Yamaha Motor Co., Ltd.

 

775,000

 

19,741,167

(Cost $232,693,677)

 

323,144,495

Korea 0.6%

 

Samsung Electronics Co., Ltd. (Cost $2,946,451)

 

20,781

 

11,983,008

Luxembourg 0.7%

 

Millicom International Cellular SA* (Cost $5,268,722)

 

152,700

 

12,991,716

Mexico 1.0%

 

Grupo Financiero Banorte SAB de CV "O" (Cost $16,625,510)

 

4,192,800

 

19,598,544

Netherlands 2.0%

 

Akzo Nobel NV

 

177,100

 

14,452,698

Heineken NV

 

180,800

 

10,533,820

ING Groep NV (CVA)

 

308,800

 

13,757,389

(Cost $33,958,319)

 

38,743,907

New Zealand 0.3%

 

Fletcher Building Ltd. (Cost $5,049,165)

 

653,200

 

6,249,529

Norway 1.3%

 

Statoil ASA* (a) (Cost $24,352,425)

 

898,000

 

24,530,231

Pakistan 0.3%

 

MCB Bank Ltd. (GDR) 144A (Cost $4,214,668)

 

273,120

 

6,076,920

Philippines 0.5%

 

Philippine Long Distance Telephone Co. (ADR) (a) (Cost $9,016,560)

 

182,700

 

10,287,837

Russia 2.0%

 

OAO Gazprom (ADR)

 

510,950

 

18,649,675

VTB Bank (GDR) 144A*

 

1,716,600

 

19,397,580

(Cost $38,902,235)

 

38,047,255

Singapore 0.6%

 

Singapore Telecommunications Ltd. (Cost $10,906,478)

 

5,030,000

 

11,798,826

Spain 3.2%

 

Industria de Diseno Textil SA

 

229,500

 

14,485,974

Obrascon Huarte Lain SA

 

405,356

 

19,908,064

Telefonica SA

 

1,231,422

 

27,985,696

(Cost $53,984,644)

 

62,379,734

Sweden 2.6%

 

Rezidor Hotel Group AB

 

2,014,600

 

18,633,754

Tele2 AB "B"

 

708,200

 

11,821,415

Telefonaktiebolaget LM Ericsson "B"

 

5,340,300

 

20,259,398

(Cost $44,651,088)

 

50,714,567

Switzerland 9.2%

 

ABB Ltd. (Registered)

 

457,419

 

9,784,763

Compagnie Financiere Richemont SA "A" (Unit)

 

434,134

 

26,708,032

Lonza Group AG (Registered)

 

246,760

 

24,397,972

Nestle SA (Registered)

 

52,486

 

20,440,743

Novartis AG (Registered) (a)

 

532,286

 

29,921,531

Roche Holding AG (Genusschein)

 

155,139

 

28,474,238

 

 


 

 

UBS AG (Registered) (a)

 

607,902

 

39,656,572

(Cost $119,667,770)

 

179,383,851

Taiwan 1.0%

 

Hon Hai Precision Industry Co., Ltd. (Cost $12,510,728)

 

2,690,323

 

19,013,890

Turkey 0.0%

 

Turkiye Is Bankasi "C" (Cost $3)

 

1

 

4

United Kingdom 18.9%

 

3i Group PLC

 

1,799,256

 

43,251,261

AMEC PLC

 

5,103,977

 

60,132,990

Anglo American PLC

 

425,905

 

25,628,935

Aviva PLC

 

1,277,889

 

20,192,177

BAE Systems PLC

 

1,561,170

 

13,825,717

Barclays PLC

 

1,033,720

 

14,778,394

Capita Group PLC

 

1,542,033

 

22,625,542

Croda International PLC

 

132,130

 

1,819,314

Greene King PLC

 

1,037,408

 

22,862,930

Hammerson PLC

 

525,198

 

16,555,917

Informa PLC

 

1,149,795

 

13,443,967

Prudential PLC

 

1,410,011

 

21,121,198

Serco Group PLC

 

1,496,346

 

14,096,067

Standard Chartered PLC

 

670,777

 

22,712,315

Tesco PLC

 

2,419,631

 

21,979,223

Vodafone Group PLC

 

3,081,653

 

9,641,130

Whitbread PLC

 

634,431

 

23,793,125

(Cost $292,051,352)

 

368,460,202

United Arab Emirates 0.2%

 

Emaar Properties (Cost $4,210,576)

 

1,257,497

 

4,177,674

Total Common Stocks (Cost $1,375,308,611)

 

1,869,489,961

 

Preferred Stock 1.6%

 

Germany

 

Porsche AG (Cost $18,093,021)

 

17,527

 

31,138,159

 

Securities Lending Collateral 14.0%

 

Daily Assets Fund Institutional, 5.35% (b) (c)
(Cost $271,268,339)

 

 

271,268,339

 

271,268,339

 

Cash Equivalents 2.5%

 

Cash Management QP Trust, 5.32% (b)
(Cost $48,416,722)

 

 

48,416,722

 

48,416,722

 

% of
Net Assets

 

Value ($)

Total Investment Portfolio (Cost $1,713,086,693)

114.2

 

2,220,313,181

Other Assets and Liabilities, Net

(14.2)

 

(275,792,939)

Net Assets

100.0

 

1,944,520,242

 

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.

(a)

All or a portion of these securities were on loan were amounting to $253,381,633. In addition, included in other assets and liabilities are pending sales, amounting to $5,029,733 that are also on load. The value of all securities loaned at May 31, 2007 amounted to $258,411,366 which is 13.3% 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.

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.

ADR: American Depositary Receipt

CVA Certificaten Van Asndelen

GDR: Global Depositary Receipt

At May 31, 2007, the DWS International Fund had the following sector diversification:

Sector

Market Value ($)

 

As a % of Common and Preferred Stocks

Financials

 

590,195,801

 

31.0

%

Consumer Discretionary

 

303,503,087

 

16.0

%

Industrials

 

256,615,799

 

13.5

%

Consumer Staples

 

155,591,018

 

8.2

%

Materials

 

123,986,524

 

6.5

%

Health Care

 

119,400,971

 

6.3

%

Information Technology

 

116,814,127

 

6.1

%

Telecommunication Services

 

113,608,572

 

6.0

%

Energy

 

92,758,366

 

4.9

%

Utilities

 

28,153,855

 

1.5

%

Total Common and Preferred Stocks

 

1,900,628,120

 

100.0

%

 

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 International Fund, a series of DWS International Fund, Inc.

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

July 20, 2007

 

 

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 International Fund, a series of DWS International Fund, Inc.

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

July 20, 2007

 

 

By:

/s/Paul Schubert

 

Paul Schubert

Chief Financial Officer and Treasurer

 

Date:                                        July 20, 2007