Edgar Filing: DWS STRATEGIC INCOME TRUST

nq083113ce-sit.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: 811-08382

DWS Strategic Income Trust

(Exact name of registrant as specified in charter)

345 Park Avenue

New York, NY 10154

(Address of principal executive offices) (Zip code)

Paul Schubert

60 Wall Street

New York, NY 10005

(Name and address of agent for service)

Registrant's telephone number, including area code: (212) 250-3220

Date of fiscal year end: 11/30

Date of reporting period: 8/31/2013

ITEM 1.

SCHEDULE OF INVESTMENTS

Investment Portfolio

as of August 31, 2013 (Unaudited)

DWS Strategic Income Trust

				Principal Amount ($) (a)				Value ($)
	Corporate Bonds 93.9%
Consumer Discretionary 17.5%
AMC Entertainment, Inc., 8.75%, 6/1/2019					200,000			215,000
AMC Networks, Inc., 7.75%, 7/15/2021					35,000			38,675
AmeriGas Finance LLC:
	6.75%, 5/20/2020				165,000			174,900
	7.0%, 5/20/2022				135,000			142,425
APX Group, Inc., 144A, 6.375%, 12/1/2019					75,000			70,688
Arcelik AS, 144A, 5.0%, 4/3/2023					220,000			179,850
Asbury Automotive Group, Inc.:
	7.625%, 3/15/2017				55,000			56,513
	8.375%, 11/15/2020				80,000			88,400
	144A, 8.375%, 11/15/2020				20,000			22,100
Ashtead Capital, Inc., 144A, 6.5%, 7/15/2022					120,000			126,900
Ashton Woods U.S.A. LLC, 144A, 6.875%, 2/15/2021					125,000			123,750
Avis Budget Car Rental LLC:
	5.5%, 4/1/2023				80,000			74,500
	8.25%, 1/15/2019				95,000			103,312
BC Mountain LLC, 144A, 7.0%, 2/1/2021					70,000			71,750
Block Communications, Inc., 144A, 7.25%, 2/1/2020					155,000			162,362
Boyd Gaming Corp., 9.0%, 7/1/2020					55,000			59,125
Cablevision Systems Corp., 8.0%, 4/15/2020					25,000			27,688
Caesar's Entertainment Operating Co., Inc.:
	8.5%, 2/15/2020				155,000			148,025
	9.0%, 2/15/2020				95,000			91,200
CCO Holdings LLC:
	6.5%, 4/30/2021				635,000			642,937
	6.625%, 1/31/2022				175,000			177,625
	7.0%, 1/15/2019				45,000			47,588
	7.375%, 6/1/2020				20,000			21,400
	8.125%, 4/30/2020				25,000			27,125
CDR DB Sub, Inc., 144A, 7.75%, 10/15/2020					45,000			45,338
Cequel Communications Holdings I LLC:
	144A, 5.125%, 12/15/2021				250,000			230,000
	144A, 6.375%, 9/15/2020				430,000			428,925
Chester Downs & Marina LLC, 144A, 9.25%, 2/1/2020					30,000			29,925
Clear Channel Communications, Inc., 11.25%, 3/1/2021					50,000			51,250
Clear Channel Worldwide Holdings, Inc.:
	Series A, 6.5%, 11/15/2022				95,000			94,287
	Series B, 6.5%, 11/15/2022				135,000			135,000
	Series A, 7.625%, 3/15/2020				20,000			19,850
	Series B, 7.625%, 3/15/2020				230,000			230,575
Cogeco Cable, Inc., 144A, 4.875%, 5/1/2020					10,000			9,600
Columbus International, Inc., 144A, 11.5%, 11/20/2014					100,000			107,500
Crown Media Holdings, Inc., 10.5%, 7/15/2019					60,000			66,900
Cumulus Media Holdings, Inc., 7.75%, 5/1/2019					70,000			71,050
DISH DBS Corp.:
	4.25%, 4/1/2018				70,000			68,950
	4.625%, 7/15/2017				400,000			405,000
	5.0%, 3/15/2023				125,000			115,312
	6.75%, 6/1/2021				30,000			31,275
	7.125%, 2/1/2016				90,000			98,100
Fontainebleau Las Vegas Holdings LLC, 144A, 11.0%, 6/15/2015 *					70,000			0
Griffey Intermediate, Inc., 144A, 7.0%, 10/15/2020					75,000			66,375
Harron Communications LP, 144A, 9.125%, 4/1/2020					155,000			168,175
Hertz Corp.:
	144A, 4.25%, 4/1/2018				625,000			612,500
	6.75%, 4/15/2019				120,000			127,950
	7.5%, 10/15/2018				320,000			345,600
Hot Topic, Inc., 144A, 9.25%, 6/15/2021					55,000			55,825
Jo-Ann Stores Holdings, Inc., 144A, 9.75%, 10/15/2019 (PIK)					140,000			144,200
L Brands, Inc., 7.0%, 5/1/2020					65,000			71,337
Lear Corp., 8.125%, 3/15/2020					32,000			34,960
Libbey Glass, Inc., 6.875%, 5/15/2020					45,000			48,094
Live Nation Entertainment, Inc., 144A, 7.0%, 9/1/2020					130,000			135,200
LKQ Corp., 144A, 4.75%, 5/15/2023					110,000			101,200
MDC Partners, Inc., 144A, 6.75%, 4/1/2020					60,000			60,750
Mediacom Broadband LLC, 6.375%, 4/1/2023					155,000			154,225
Mediacom LLC:
	7.25%, 2/15/2022				45,000			47,138
	9.125%, 8/15/2019				140,000			153,650
MGM Resorts International:
	6.625%, 12/15/2021				230,000			233,450
	6.75%, 10/1/2020				35,000			35,700
	7.625%, 1/15/2017				100,000			110,250
	8.625%, 2/1/2019				340,000			381,650
	10.0%, 11/1/2016				40,000			47,000
Midcontinent Communications & Midcontinent Finance Corp., 144A, 6.25%, 8/1/2021					70,000			70,175
National CineMedia LLC:
	6.0%, 4/15/2022				85,000			86,700
	7.875%, 7/15/2021				100,000			108,000
Norcraft Companies LP, 10.5%, 12/15/2015					170,000			177,225
Palace Entertainment Holdings LLC, 144A, 8.875%, 4/15/2017					75,000			77,437
PETCO Animal Supplies, Inc., 144A, 9.25%, 12/1/2018					60,000			64,650
Petco Holdings, Inc., 144A, 8.5%, 10/15/2017 (PIK)					20,000			20,400
PNK Finance Corp., 144A, 6.375%, 8/1/2021					90,000			89,775
Quebecor Media, Inc., 5.75%, 1/15/2023					80,000			74,600
Regal Entertainment Group, 9.125%, 8/15/2018					38,000			41,515
Rent-A-Center, Inc., 144A, 4.75%, 5/1/2021					60,000			55,500
Schaeffler Finance BV, 144A, 7.75%, 2/15/2017					200,000			223,000
Seminole Hard Rock Entertainment, Inc., 144A, 5.875%, 5/15/2021					50,000			48,250
Seminole Indian Tribe of Florida:
	144A, 7.75%, 10/1/2017				80,000			85,000
	144A, 7.804%, 10/1/2020				130,000			137,800
Serta Simmons Holdings LLC, 144A, 8.125%, 10/1/2020					45,000			47,363
SIWF Merger Sub, Inc., 144A, 6.25%, 6/1/2021					115,000			113,562
Starz LLC, 5.0%, 9/15/2019					60,000			58,800
Taylor Morrison Communities, Inc., 144A, 5.25%, 4/15/2021					95,000			89,775
UCI International, Inc., 8.625%, 2/15/2019					45,000			46,125
Unitymedia Hessen GmbH & Co., KG:
	144A, 5.5%, 1/15/2023				300,000			273,000
	144A, 7.5%, 3/15/2019				150,000			162,000
Unitymedia KabelBW GmbH, 144A, 9.625%, 12/1/2019		EUR			160,000			234,196
Univision Communications, Inc.:
	144A, 6.875%, 5/15/2019				20,000			21,100
	144A, 7.875%, 11/1/2020				50,000			54,188
	144A, 8.5%, 5/15/2021				30,000			32,475
UPC Holding BV, 144A, 8.375%, 8/15/2020		EUR			165,000			237,228
Viking Cruises Ltd., 144A, 8.5%, 10/15/2022					80,000			87,400
Visant Corp., 10.0%, 10/1/2017					80,000			74,600
Visteon Corp., 6.75%, 4/15/2019					64,000			67,840

								11,227,583
Consumer Staples 4.4%
Ajecorp BV, 144A, 6.5%, 5/14/2022					150,000			145,875
B&G Foods, Inc., 4.625%, 6/1/2021					90,000			83,587
Chiquita Brands International, Inc., 144A, 7.875%, 2/1/2021					35,000			36,925
Constellation Brands, Inc.:
	3.75%, 5/1/2021				95,000			87,875
	6.0%, 5/1/2022				40,000			42,300
Controladora Mabe SA de CV, 144A, 7.875%, 10/28/2019					200,000			219,000
Del Monte Corp., 7.625%, 2/15/2019					155,000			161,200
FAGE Dairy Industry SA, 144A, 9.875%, 2/1/2020					90,000			97,200
JBS U.S.A. LLC, 144A, 8.25%, 2/1/2020					65,000			67,763
MHP SA, 144A, 8.25%, 4/2/2020					200,000			176,500
NBTY, Inc., 9.0%, 10/1/2018					50,000			54,875
Pilgrim's Pride Corp., 7.875%, 12/15/2018					60,000			64,800
Reynolds Group Issuer, Inc.:
	5.75%, 10/15/2020				155,000			153,644
	6.875%, 2/15/2021				205,000			216,275
	7.125%, 4/15/2019				540,000			574,425
	8.25%, 2/15/2021				100,000			98,750
	8.5%, 5/15/2018				100,000			103,500
Smithfield Foods, Inc.:
	6.625%, 8/15/2022				80,000			82,000
	7.75%, 7/1/2017				150,000			168,750
Sun Products Corp., 144A, 7.75%, 3/15/2021					135,000			132,300
U.S. Foods, Inc., 8.5%, 6/30/2019					80,000			84,200

								2,851,744
Energy 13.8%
Access Midstream Partners LP:
	4.875%, 5/15/2023				130,000			120,900
	5.875%, 4/15/2021				45,000			46,238
	6.125%, 7/15/2022				135,000			138,713
Afren PLC, 144A, 10.25%, 4/8/2019					200,000			227,000
Antero Resources Finance Corp., 7.25%, 8/1/2019					110,000			115,500
Arch Coal, Inc., 7.0%, 6/15/2019					45,000			36,000
Berry Petroleum Co.:
	6.375%, 9/15/2022				75,000			74,531
	6.75%, 11/1/2020				165,000			167,475
BreitBurn Energy Partners LP:
	7.875%, 4/15/2022				75,000			74,250
	8.625%, 10/15/2020				40,000			42,400
Chaparral Energy, Inc., 7.625%, 11/15/2022					70,000			70,175
Chesapeake Energy Corp., 7.25%, 12/15/2018					535,000			605,887
Chesapeake Oilfield Operating LLC, 6.625%, 11/15/2019					85,000			85,425
CITGO Petroleum Corp., 144A, 11.5%, 7/1/2017					100,000			111,000
Crestwood Midstream Partners LP, 7.75%, 4/1/2019					115,000			120,031
Crosstex Energy LP, 7.125%, 6/1/2022					40,000			41,000
Denbury Resources, Inc., 4.625%, 7/15/2023					220,000			196,350
Dresser-Rand Group, Inc., 6.5%, 5/1/2021					155,000			164,687
EDC Finance Ltd., 144A, 4.875%, 4/17/2020					200,000			183,500
El Paso LLC, 7.25%, 6/1/2018					105,000			118,490
Endeavor Energy Resources LP, 144A, 7.0%, 8/15/2021					105,000			103,163
EP Energy LLC:
	6.875%, 5/1/2019				140,000			148,750
	7.75%, 9/1/2022				35,000			37,450
	9.375%, 5/1/2020				30,000			33,000
EPE Holdings LLC, 144A, 8.125%, 12/15/2017 (PIK)					172,077			175,519
EV Energy Partners LP, 8.0%, 4/15/2019					340,000			340,000
Frontier Oil Corp., 6.875%, 11/15/2018					70,000			74,550
Global Geophysical Services, Inc., 10.5%, 5/1/2017					90,000			77,850
Halcon Resources Corp.:
	8.875%, 5/15/2021				150,000			150,375
	9.75%, 7/15/2020				60,000			61,950
Holly Energy Partners LP:
	6.5%, 3/1/2020				45,000			46,350
	8.25%, 3/15/2018				110,000			116,600
Kinder Morgan Finance Co., LLC, 144A, 6.0%, 1/15/2018					165,000			178,919
Kodiak Oil & Gas Corp., 144A, 5.5%, 1/15/2021					90,000			89,100
Linn Energy LLC:
	144A, 6.25%, 11/1/2019				225,000			207,000
	6.5%, 5/15/2019				50,000			47,000
MEG Energy Corp.:
	144A, 6.375%, 1/30/2023				340,000			339,150
	144A, 6.5%, 3/15/2021				85,000			86,488
Memorial Production Partners LP, 7.625%, 5/1/2021					45,000			43,425
Midstates Petroleum Co., Inc.:
	144A, 9.25%, 6/1/2021				270,000			256,500
	144A, 10.75%, 10/1/2020				45,000			45,675
Murphy Oil U.S.A., Inc., 144A, 6.0%, 8/15/2023					110,000			109,175
Murray Energy Corp., 144A, 8.625%, 6/15/2021					20,000			19,900
Newfield Exploration Co., 5.75%, 1/30/2022					80,000			79,600
Northern Oil & Gas, Inc., 8.0%, 6/1/2020					230,000			233,450
Oasis Petroleum, Inc.:
	6.5%, 11/1/2021				65,000			68,250
	6.875%, 1/15/2023				50,000			52,625
	7.25%, 2/1/2019				265,000			280,900
Odebrecht Drilling Norbe VIII/IX Ltd., 144A, 6.35%, 6/30/2021					185,000			181,300
Offshore Group Investment Ltd.:
	7.125%, 4/1/2023				155,000			149,187
	7.5%, 11/1/2019				110,000			114,400
Pacific Drilling SA, 144A, 5.375%, 6/1/2020					90,000			86,850
Petroleos de Venezuela SA, 144A, 8.5%, 11/2/2017					150,000			134,025
Regency Energy Partners LP, 144A, 4.5%, 11/1/2023					40,000			35,700
Reliance Holdings U.S.A., Inc., 144A, 5.4%, 2/14/2022					250,000			243,891
Sabine Pass Liquefaction LLC:
	144A, 5.625%, 2/1/2021				260,000			248,300
	144A, 5.625%, 4/15/2023				100,000			92,750
SandRidge Energy, Inc., 7.5%, 3/15/2021					190,000			189,050
SESI LLC:
	6.375%, 5/1/2019				90,000			94,725
	7.125%, 12/15/2021				275,000			297,687
Swift Energy Co., 7.875%, 3/1/2022					115,000			111,550
Talos Production LLC, 144A, 9.75%, 2/15/2018					145,000			143,550
Tesoro Corp., 5.375%, 10/1/2022					60,000			57,300
Venoco, Inc., 8.875%, 2/15/2019					110,000			109,725
WPX Energy, Inc., 5.25%, 1/15/2017					295,000			312,700

								8,844,956
Financials 6.8%
AerCap Aviation Solutions BV, 6.375%, 5/30/2017					270,000			286,200
Akbank TAS, 144A, 5.125%, 7/22/2015					130,000			132,113
Ally Financial, Inc.:
	5.5%, 2/15/2017				655,000			690,454
	6.25%, 12/1/2017				195,000			209,095
	8.0%, 3/15/2020				235,000			270,544
Banco Santander Brasil SA, 144A, 8.0%, 3/18/2016		BRL			300,000			113,162
CIT Group, Inc.:
	4.25%, 8/15/2017				515,000			521,437
	5.0%, 5/15/2017				80,000			83,000
E*TRADE Financial Corp.:
	6.0%, 11/15/2017				513,900			531,886
	6.375%, 11/15/2019				265,000			278,250
	6.75%, 6/1/2016				145,000			153,338
Hellas Telecommunications Finance, 144A, 8.218% *, 7/15/2015 (PIK)		EUR			109,187			0
International Lease Finance Corp.:
	3.875%, 4/15/2018				285,000			272,175
	4.625%, 4/15/2021				135,000			122,850
	6.25%, 5/15/2019				125,000			128,750
	8.625%, 1/15/2022				125,000			140,938
MPT Operating Partnership LP:
	(REIT), 6.375%, 2/15/2022				110,000			111,925
	(REIT), 6.875%, 5/1/2021				110,000			115,775
Neuberger Berman Group LLC:
	144A, 5.625%, 3/15/2020				65,000			67,438
	144A, 5.875%, 3/15/2022				110,000			112,750

								4,342,080
Health Care 6.6%
Aviv Healthcare Properties LP, 7.75%, 2/15/2019					200,000			214,000
Biomet, Inc.:
	6.5%, 8/1/2020				135,000			138,375
	6.5%, 10/1/2020				40,000			39,900
Community Health Systems, Inc.:
	5.125%, 8/15/2018				695,000			710,637
	7.125%, 7/15/2020				750,000			757,500
Fresenius Medical Care U.S. Finance II, Inc., 144A, 5.625%, 7/31/2019					90,000			92,700
Fresenius Medical Care U.S. Finance, Inc.:
	144A, 5.75%, 2/15/2021				70,000			71,400
	144A, 6.5%, 9/15/2018				45,000			49,050
HCA, Inc.:
	5.875%, 3/15/2022				120,000			123,900
	6.5%, 2/15/2020				675,000			724,781
	7.5%, 2/15/2022				170,000			184,875
Hologic, Inc., 6.25%, 8/1/2020					80,000			83,400
IMS Health, Inc., 144A, 6.0%, 11/1/2020					100,000			102,625
Par Pharmaceutical Companies, Inc., 144A, 7.375%, 10/15/2020					125,000			129,375
Physio-Control International, Inc., 144A, 9.875%, 1/15/2019					62,000			68,510
Tenet Healthcare Corp.:
	144A, 4.375%, 10/1/2021				150,000			136,125
	144A, 4.5%, 4/1/2021				20,000			18,400
	6.25%, 11/1/2018				415,000			438,344
VPII Escrow Corp., 144A, 6.75%, 8/15/2018					170,000			179,988

								4,263,885
Industrials 9.1%
Accuride Corp., 9.5%, 8/1/2018					80,000			82,400
Air Lease Corp.:
	4.75%, 3/1/2020				110,000			109,725
	6.125%, 4/1/2017				175,000			187,687
Alphabet Holding Co., Inc., 7.75%, 11/1/2017 (PIK)					40,000			41,300
AWAS Aviation Capital Ltd., 144A, 7.0%, 10/17/2016					117,800			121,923
BE Aerospace, Inc., 6.875%, 10/1/2020					65,000			70,200
Belden, Inc., 144A, 5.5%, 9/1/2022					135,000			130,950
Bombardier, Inc.:
	144A, 5.75%, 3/15/2022				90,000			87,750
	144A, 7.75%, 3/15/2020				465,000			519,056
Case New Holland, Inc., 7.875%, 12/1/2017					225,000			258,750
Casella Waste Systems, Inc., 7.75%, 2/15/2019					210,000			209,475
Clean Harbors, Inc., 5.125%, 6/1/2021					100,000			97,250
CNH Capital LLC, 3.625%, 4/15/2018					150,000			147,000
DigitalGlobe, Inc., 144A, 5.25%, 2/1/2021					55,000			51,563
Ducommun, Inc., 9.75%, 7/15/2018					140,000			154,700
DynCorp International, Inc., 10.375%, 7/1/2017					170,000			174,250
Ferreycorp SAA, 144A, 4.875%, 4/26/2020					200,000			183,000
Florida East Coast Railway Corp., 8.125%, 2/1/2017					40,000			42,200
FTI Consulting, Inc.:
	6.0%, 11/15/2022				80,000			79,000
	6.75%, 10/1/2020				295,000			311,594
Garda World Security Corp., 144A, 9.75%, 3/15/2017					75,000			79,875
GenCorp, Inc., 144A, 7.125%, 3/15/2021					280,000			293,300
Georgian Railway JSC, 144A, 7.75%, 7/11/2022					200,000			211,000
Grupo KUO SAB de CV, 144A, 6.25%, 12/4/2022					200,000			200,000
Huntington Ingalls Industries, Inc.:
	6.875%, 3/15/2018				105,000			113,137
	7.125%, 3/15/2021				20,000			21,600
Iron Mountain, Inc., 5.75%, 8/15/2024					90,000			81,225
Kenan Advantage Group, Inc., 144A, 8.375%, 12/15/2018					155,000			161,975
Meritor, Inc.:
	6.75%, 6/15/2021				75,000			73,219
	10.625%, 3/15/2018				60,000			65,100
Navios Maritime Holdings, Inc.:
	8.125%, 2/15/2019				75,000			72,375
	8.875%, 11/1/2017				45,000			46,856
Navios South American Logistics, Inc., 9.25%, 4/15/2019					65,000			70,200
Nortek, Inc., 8.5%, 4/15/2021					85,000			92,013
Odebrecht Finance Ltd., 144A, 7.125%, 6/26/2042					200,000			174,000
Ply Gem Industries, Inc., 9.375%, 4/15/2017					21,000			22,103
Spirit AeroSystems, Inc., 6.75%, 12/15/2020					95,000			99,750
Titan International, Inc.:
	7.875%, 10/1/2017				185,000			196,100
	144A, 7.875%, 10/1/2017				50,000			53,000
TransDigm, Inc.:
	144A, 7.5%, 7/15/2021				125,000			132,187
	7.75%, 12/15/2018				135,000			144,450
U.S. Airways Group, Inc., 6.125%, 6/1/2018					90,000			81,675
United Rentals North America, Inc.:
	6.125%, 6/15/2023				10,000			9,850
	7.375%, 5/15/2020				120,000			129,300
	7.625%, 4/15/2022				120,000			129,000
Watco Companies LLC, 144A, 6.375%, 4/1/2023					60,000			59,250

								5,872,313
Information Technology 3.4%
ACI Worldwide, Inc., 144A, 6.375%, 8/15/2020					35,000			35,350
Alliance Data Systems Corp., 144A, 5.25%, 12/1/2017					95,000			98,088
BMC Software Finance, Inc., 144A, 8.125%, 7/15/2021					125,000			126,562
CDW LLC, 8.5%, 4/1/2019					165,000			181,294
CyrusOne LP, 6.375%, 11/15/2022					40,000			40,200
eAccess Ltd., 144A, 8.25%, 4/1/2018					60,000			65,550
EarthLink, Inc., 144A, 7.375%, 6/1/2020					95,000			92,863
Equinix, Inc.:
	4.875%, 4/1/2020				100,000			96,250
	5.375%, 4/1/2023				265,000			252,412
	7.0%, 7/15/2021				90,000			96,525
First Data Corp.:
	144A, 6.75%, 11/1/2020				275,000			281,187
	144A, 7.375%, 6/15/2019				95,000			98,562
	144A, 8.875%, 8/15/2020				170,000			183,600
	144A, 10.625%, 6/15/2021				22,000			21,863
Healthcare Technology Intermediate, Inc., 144A, 7.375%, 9/1/2018 (PIK)					25,000			25,375
Hughes Satellite Systems Corp.:
	6.5%, 6/15/2019				185,000			194,712
	7.625%, 6/15/2021				90,000			96,525
IAC/InterActiveCorp., 4.75%, 12/15/2022					75,000			69,188
Jabil Circuit, Inc., 5.625%, 12/15/2020					105,000			108,675

								2,164,781
Materials 10.5%
Axiall Corp., 144A, 4.875%, 5/15/2023					25,000			23,188
Berry Plastics Corp.:
	9.5%, 5/15/2018				65,000			70,606
	9.75%, 1/15/2021				80,000			92,600
Bluescope Steel Ltd., 144A, 7.125%, 5/1/2018					60,000			60,600
BOE Intermediate Holding Corp., 144A, 9.0%, 11/1/2017 (PIK)					110,000			112,200
BOE Merger Corp., 144A, 9.5%, 11/1/2017 (PIK)					75,000			79,500
BWAY Holding Co., 10.0%, GTY: Subsidiar, 6/15/2018					250,000			273,750
Cemex SAB de CV, 144A, 9.5%, 6/15/2018					200,000			217,000
Clearwater Paper Corp., 7.125%, 11/1/2018					140,000			150,500
Compass Minerals International, Inc., 8.0%, 6/1/2019					85,000			90,950
Crown Americas LLC, 6.25%, 2/1/2021					20,000			21,000
Eagle Spinco, Inc., 144A, 4.625%, 2/15/2021					45,000			42,300
Essar Steel Algoma, Inc.:
	144A, 9.375%, 3/15/2015				430,000			403,125
	144A, 9.875%, 6/15/2015				40,000			31,000
Exopack Holding Corp., 10.0%, 6/1/2018					90,000			95,175
Fibria Overseas Finance Ltd., 144A, 6.75%, 3/3/2021					150,000			157,125
FMG Resources (August 2006) Pty Ltd.:
	144A, 6.0%, 4/1/2017				130,000			132,275
	144A, 6.875%, 4/1/2022				25,000			24,750
	144A, 7.0%, 11/1/2015				135,000			139,050
	144A, 8.25%, 11/1/2019				110,000			117,425
FQM Akubra, Inc.:
	144A, 7.5%, 6/1/2021				220,000			221,100
	144A, 8.75%, 6/1/2020				125,000			130,625
Gerdau Holdings, Inc., 144A, 7.0%, 1/20/2020					200,000			208,000
Greif, Inc., 7.75%, 8/1/2019					230,000			261,050
Hexion U.S. Finance Corp.:
	6.625%, 4/15/2020				40,000			39,500
	8.875%, 2/1/2018				155,000			158,487
Huntsman International LLC:
	4.875%, 11/15/2020				85,000			80,963
	8.625%, 3/15/2020				120,000			132,600
	8.625%, 3/15/2021				50,000			55,750
IAMGOLD Corp., 144A, 6.75%, 10/1/2020					110,000			95,150
Kaiser Aluminum Corp., 8.25%, 6/1/2020					100,000			111,500
KGHM International Ltd., 144A, 7.75%, 6/15/2019					250,000			255,625
Metalloinvest Finance Ltd., 144A, 6.5%, 7/21/2016					200,000			209,000
Novelis, Inc., 8.75%, 12/15/2020					490,000			532,875
OI European Group BV, 144A, 6.75%, 9/15/2020		EUR			70,000			104,080
Packaging Dynamics Corp., 144A, 8.75%, 2/1/2016					90,000			93,150
Polymer Group, Inc., 7.75%, 2/1/2019					110,000			116,050
PolyOne Corp., 144A, 5.25%, 3/15/2023					215,000			205,862
Polyus Gold International Ltd., 144A, 5.625%, 4/29/2020					200,000			190,000
Rain CII Carbon LLC, 144A, 8.0%, 12/1/2018					100,000			101,000
Samarco Mineracao SA, 144A, 4.125%, 11/1/2022					300,000			252,000
Sealed Air Corp., 144A, 5.25%, 4/1/2023					20,000			19,050
Tronox Finance LLC, 144A, 6.375%, 8/15/2020					95,000			90,725
Turkiye Sise ve Cam Fabrikalari AS, 144A, 4.25%, 5/9/2020					200,000			164,500
Viskase Companies, Inc., 144A, 9.875%, 1/15/2018					145,000			153,700
Volcan Cia Minera SAA, 144A, 5.375%, 2/2/2022					420,000			394,800

								6,711,261
Telecommunication Services 17.5%
CenturyLink, Inc.:
	Series V, 5.625%, 4/1/2020				40,000			39,200
	Series N, 6.0%, 4/1/2017				500,000			535,000
Cincinnati Bell, Inc.:
	8.375%, 10/15/2020				365,000			385,987
	8.75%, 3/15/2018				430,000			446,125
Colombia Telecomunicaciones SA ESP, 144A, 5.375%, 9/27/2022					200,000			177,000
CPI International, Inc., 8.0%, 2/15/2018					50,000			51,250
Cricket Communications, Inc., 7.75%, 10/15/2020					480,000			545,400
Crown Castle International Corp., 7.125%, 11/1/2019					90,000			96,750
Digicel Group Ltd.:
	144A, 8.25%, 9/30/2020				200,000			212,000
	144A, 10.5%, 4/15/2018				100,000			107,750
Digicel Ltd.:
	144A, 7.0%, 2/15/2020				200,000			202,000
	144A, 8.25%, 9/1/2017				530,000			551,200
ERC Ireland Preferred Equity Ltd., 144A, 7.69% *, 2/15/2017 (PIK)		EUR			80,289			0
Frontier Communications Corp.:
	7.125%, 1/15/2023				515,000			500,837
	7.625%, 4/15/2024				40,000			39,100
	8.25%, 4/15/2017				119,000			133,875
	8.5%, 4/15/2020				180,000			196,650
	8.75%, 4/15/2022				25,000			27,063
Intelsat Jackson Holdings SA:
	144A, 5.5%, 8/1/2023				280,000			259,700
	7.25%, 10/15/2020				435,000			464,362
	7.5%, 4/1/2021				465,000			502,200
	8.5%, 11/1/2019				220,000			239,250
Intelsat Luxembourg SA:
	144A, 7.75%, 6/1/2021				255,000			262,650
	144A, 8.125%, 6/1/2023				35,000			36,575
Level 3 Communications, Inc., 8.875%, 6/1/2019					10,000			10,675
Level 3 Financing, Inc.:
	7.0%, 6/1/2020				145,000			146,087
	8.125%, 7/1/2019				80,000			84,600
	8.625%, 7/15/2020				65,000			69,550
MetroPCS Wireless, Inc.:
	6.625%, 11/15/2020				65,000			67,438
	144A, 6.625%, 4/1/2023				95,000			94,288
	7.875%, 9/1/2018				155,000			167,787
Millicom International Cellular SA, 144A, 4.75%, 5/22/2020					200,000			189,250
NII Capital Corp., 7.625%, 4/1/2021					55,000			42,075
SBA Communications Corp., 5.625%, 10/1/2019					75,000			73,875
SBA Telecommunications, Inc., 8.25%, 8/15/2019					26,000			28,210
Sprint Communications, Inc.:
	6.0%, 12/1/2016				775,000			821,500
	9.125%, 3/1/2017				65,000			74,588
Telemar Norte Leste SA, 144A, 5.5%, 10/23/2020					200,000			177,300
Telesat Canada, 144A, 6.0%, 5/15/2017					900,000			933,750
tw telecom holdings, Inc.:
	5.375%, 10/1/2022				115,000			109,538
	144A, 5.375%, 10/1/2022				15,000			14,288
	144A, 6.375%, 9/1/2023				90,000			89,550
UPCB Finance III Ltd., 144A, 6.625%, 7/1/2020					490,000			512,050
UPCB Finance VI Ltd., 144A, 6.875%, 1/15/2022					150,000			156,750
VimpelCom Holdings BV, 144A, 6.255%, 3/1/2017					200,000			208,000
Wind Acquisition Finance SA, 144A, 6.5%, 4/30/2020					80,000			80,000
Windstream Corp.:
	6.375%, 8/1/2023				95,000			85,856
	7.5%, 6/1/2022				65,000			64,675
	7.5%, 4/1/2023				150,000			146,625
	7.75%, 10/15/2020				30,000			30,675
	7.75%, 10/1/2021				130,000			132,925
	144A, 7.75%, 10/1/2021				135,000			138,038
	7.875%, 11/1/2017				310,000			344,100
	8.125%, 9/1/2018				145,000			155,512

								11,261,479
Utilities 4.3%
AES Corp.:
	4.875%, 5/15/2023				40,000			36,700
	8.0%, 10/15/2017				75,000			86,250
	8.0%, 6/1/2020				105,000			119,175
Calpine Corp.:
	144A, 7.5%, 2/15/2021				153,000			162,180
	144A, 7.875%, 7/31/2020				168,000			181,440
Centrais Eletricas Brasileiras SA, 144A, 6.875%, 7/30/2019					655,000			676,287
DPL, Inc., 6.5%, 10/15/2016					505,000			532,775
Energy Future Holdings Corp., Series Q, 6.5%, 11/15/2024					110,000			55,550
Energy Future Intermediate Holding Co., LLC:
	10.0%, 12/1/2020				30,000			31,613
	11.0%, 10/1/2021				205,000			219,862
Instituto Costarricense de Electricidad, 144A, 6.95%, 11/10/2021					200,000			207,500
IPALCO Enterprises, Inc., 5.0%, 5/1/2018					175,608			180,437
Mexico Generadora de Energia S de rl, 144A, 5.5%, 12/6/2032					200,000			184,000
NRG Energy, Inc., 7.625%, 1/15/2018					75,000			83,063

								2,756,832

Total Corporate Bonds (Cost $60,135,384)						60,296,914
	Government & Agency Obligations 8.9%
Sovereign Bonds
Dominican Republic, 144A, 7.5%, 5/6/2021					900,000			963,000
Federative Republic of Brazil, 12.5%, 1/5/2016		BRL			625,000			278,584
Republic of Argentina-Inflation Linked Bond, 5.83%, 12/31/2033		ARS			481			113
Republic of Belarus, REG S, 8.75%, 8/3/2015					100,000			94,500
Republic of Croatia, 144A, 6.375%, 3/24/2021					950,000			965,437
Republic of Ghana, 144A, 8.5%, 10/4/2017					100,000			108,375
Republic of Panama, 9.375%, 1/16/2023					665,000			891,100
Republic of Slovenia, 144A, 4.75%, 5/10/2018					200,000			193,000
Russian Federation:
	144A, 7.5%, 3/31/2030				1,490,000			1,718,432
	REG S, 7.5%, 3/31/2030				402,114			463,762
	Series 6207, 8.15%, 2/3/2027	RUB			1,000,000			30,662
United Mexican States, Series M-20, 8.5%, 5/31/2029		MXN			270,000			23,131

Total Government & Agency Obligations (Cost $5,605,338)						5,730,096
	Loan Participations and Assignments 33.6%
Senior Loans ** 32.3%
Consumer Discretionary 13.3%
Air Distribution Technologies, Inc., First Lien Term Loan, 5.0%, 11/9/2018					169,150			171,264
Atlantic Broadband Finance LLC, Term Loan B, 3.25%, 12/2/2019					1,135,000			1,127,906
Buffets, Inc., Letter of Credit, First Lien, LIBOR plus 9.25%, 4/22/2015 *					9,671			4,835
Burger King Corp., Term Loan B, 3.75%, 9/27/2019					188,575			190,048
Caesars Entertainment Operating Co., Term Loan B6, 5.434%, 1/26/2018					33,532			30,235
Cequel Communications LLC, Term Loan B, 3.5%, 2/14/2019					430,000			431,559
Charter Communications Operating LLC:
	Term Loan E, 3.0%, 7/1/2020				655,000			649,678
	Term Loan F, 3.0%, 1/4/2021				1,075,000			1,066,266
Cumulus Media Holdings, Inc., Second Lien Term Loan, 7.5%, 9/16/2019					130,000			131,788
Goodyear Tire & Rubber Co., Second Lien Term Loan, 4.75%, 4/30/2019					930,000			937,384
Petco Animal Supplies, Inc., Term Loan, 4.0%, 11/24/2017					145,283			146,210
Pilot Travel Centers LLC:
	Term Loan B, 3.75%, 3/30/2018				270,852			270,289
	Term Loan B2, 4.25%, 8/7/2019				674,900			674,056
Quebecor Media, Inc., Term Loan B1, 3.25%, 8/1/2019					420,000			420,262
Seminole Tribe of Florida, Term Loan, 3.0%, 4/29/2020					1,041,450			1,040,669
Tomkins LLC, Term Loan B2, 3.75%, 9/29/2016					1,095,110			1,100,586
Univision Communications, Inc., Term Loan, 4.5%, 3/2/2020					155,504			155,428

								8,548,463
Consumer Staples 2.9%
Albertson's LLC:
	Term Loan B1, 4.25%, 3/21/2016				564,113			567,111
	Term Loan B2, 4.75%, 3/21/2019				120,125			120,375
Del Monte Foods Co., Term Loan, 4.0%, 3/8/2018					371,918			372,614
HJ Heinz Co., Term Loan B2, 3.5%, 6/5/2020					690,000			695,261
Pinnacle Foods Finance LLC, Term Loan G, 3.25%, 4/29/2020					119,700			118,827

								1,874,188
Energy 3.1%
Chesapeake Energy Corp., Term Loan, 5.75%, 12/1/2017					355,000			362,895
MEG Energy Corp., Term Loan, 3.75%, 3/31/2020					658,330			661,210
Ruby Western Pipeline Holdings LLC, Term Loan B, 3.5%, 3/27/2020					77,850			77,752
Samson Investment Co., Second Lien Term Loan, 6.0%, 9/25/2018					540,000			544,053
Tallgrass Operations LLC, Term Loan, 5.25%, 11/13/2018					295,821			299,951

								1,945,861
Health Care 1.8%
Par Pharmaceutical Companies, Inc., Term Loan B, 4.25%, 9/30/2019					322,567			321,912
Valeant Pharmaceuticals International, Inc.:
	Term Loan B, LIBOR plus 2.75%, 2/13/2019				339,146			341,179
	Term Loan B, LIBOR plus 2.75%, 12/11/2019				229,422			230,598
Warner Chilcott Corp.:
	Incremental Term Loan B1, 4.25%, 3/15/2018				46,861			47,037
	Term Loan B1, 4.25%, 3/15/2018				107,646			108,050
WC Luxco S.a.r.l., Term Loan B3, 4.25%, 3/15/2018					84,827			85,145

								1,133,921
Industrials 1.8%
Buffalo Gulf Coast Terminals LLC, Term Loan, 5.25%, 10/31/2017					203,463			205,497
Transdigm, Inc., Term Loan C, 3.75%, 2/28/2020					543,138			543,931
WP CPP Holdings LLC, First Lien Term Loan, 4.75%, 12/27/2019					417,900			417,900

								1,167,328
Information Technology 1.2%
First Data Corp., Term Loan, 4.184%, 3/24/2017					790,000			784,790
Materials 2.7%
Axalta Coating Systems U.S. Holdings, Inc., Term Loan, 4.75%, 2/3/2020					560,000			564,970
Berry Plastics Holding Corp., Term Loan D, 3.5%, 2/7/2020					750,000			745,582
FMG Resources (August 2006) Pty Ltd., Term Loan, 5.25%, 10/18/2017					200,000			201,163
MacDermid, Inc., First Lien Term Loan, 4.0%, 6/8/2020					230,000			230,720

								1,742,435
Telecommunication Services 3.8%
Crown Castle International Corp., Term Loan, 3.25%, 1/31/2019					1,183,077			1,174,819
DigitalGlobe, Inc., Term Loan B, 3.75%, 1/31/2020					14,963			15,098
Kabel Deutschland GmbH, Term Loan F1, 3.25%, 2/1/2019					1,055,000			1,055,928
Syniverse Holdings, Inc., Term Loan B, 4.0%, 4/23/2019					215,000			216,412

								2,462,257
Utilities 1.7%
Calpine Corp., Term Loan B1, 4.0%, 4/2/2018					655,000			658,056
NRG Energy, Inc., Term Loan B, 2.75%, 7/2/2018					396,960			395,068

								1,053,124
Sovereign Loans 1.3%
Financials 1.0%
Bank of Moscow, 144A, 6.699%, 3/11/2015					360,000			378,176
VTB Bank OJSC, 144A, 6.315%, 2/22/2018					265,000			278,913

								657,089
Materials 0.3%
Uralkali OJSC, 144A, 3.723%, 4/30/2018					200,000			185,000

Total Loan Participations and Assignments (Cost $21,672,512)						21,554,456
	Convertible Bonds 0.5%
Consumer Discretionary 0.2%
Group 1 Automotive, Inc., 3.0%, 3/15/2020					65,000			137,963
Materials 0.3%
GEO Specialty Chemicals, Inc., 144A, 7.5%, 3/31/2015 (PIK)					105,307			175,852

Total Convertible Bonds (Cost $169,887)						313,815
	Preferred Security 0.3%
Materials
Hercules, Inc., 6.5%, 6/30/2029 (Cost $117,311)					175,000			155,750

				Units				Value ($)
	Other Investments 0.0%
Consumer Discretionary
Dawn Holdings, Inc.* (c) (Cost $5,863)					2			4,691

				Shares				Value ($)
	Common Stocks 0.0%
Consumer Discretionary 0.0%
Buffets Restaurants Holdings, Inc.*			87					566
Trump Entertainment Resorts, Inc.*			8					0
Vertis Holdings, Inc.*			71					0

								566
Industrials 0.0%
Congoleum Corp.*			2,000					0
Materials 0.0%
GEO Specialty Chemicals, Inc.*			1,741					1,116
Wolverine Tube, Inc.*			640					20,640

								21,756

Total Common Stocks (Cost $37,095)						22,322
	Preferred Stock 0.2%
Financials
Ally Financial, Inc., 144A, 7.0% (Cost $150,350)			160					149,720
	Warrants 0.0%
Consumer Discretionary 0.0%
Reader's Digest Association, Inc., Expiration Date 2/19/2014*			175					0
Materials 0.0%
GEO Specialty Chemicals, Inc., Expiration Date 3/31/2015*			9,761					6,185
Hercules Trust II, Expiration Date 3/31/2029*			95					1,568

								7,753

Total Warrants (Cost $20,981)						7,753

				Contract Amount				Value ($)
	Call Options Purchased 0.0%
Options on Interest Rate Swap Contracts
Pay Fixed Rate - 3.72% - Receive Floating - LIBOR, Swap Expiration Date 4/22/2026, Option Expiration Date 4/20/20161 (Cost $9,870)			200,000					13,501

				Shares				Value ($)
	Cash Equivalents 10.1%
Central Cash Management Fund, 0.05% (b) (Cost $6,493,130)			6,493,130					6,493,130

				% of Net Assets				Value ($)

Total Investment Portfolio (Cost $94,417,721) †			147.5				94,742,148
Notes Payable			(45.2)				(29,000,000)
Other Assets and Liabilities, Net			(2.3)				(1,497,482)

Net Assets			100.0				64,244,666
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.

The following table represents bonds and senior loans that are in default:

Security	Coupon		Maturity Date	Principal Amount ($)			Cost ($)		Value ($)
Buffets, Inc.*	LIBOR plus 9.25%		4/22/2015		9,671	9,465				4,835
ERC Ireland Preferred Equity Ltd.*		7.69%	2/15/2017		80,289	109,298				0
Fontainebleau Las Vegas Holdings LLC*		11.0%	6/15/2015		70,000	70,788				0
Hellas Telecommunications Finance*		8.218%	7/15/2015		109,187	32,169				0
								221,720		4,835

	Non-income producing security.
**	Floating rate securities’ yields vary with a designated market index or market rate, such as the coupon-equivalent of the U.S. Treasury Bill rate. These securities are shown at their current rate as of August 31, 2013.
†	The cost for federal income tax purposes was $94,417,721. At August 31, 2013, net unrealized appreciation for all securities based on tax cost was $460,102. This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $2,385,708 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $1,925,606.
(a)	Principal amount stated in U.S. dollars unless otherwise noted.
(b)	Affiliated fund managed by Deutsche Investment Management Americas Inc. The rate shown is the annualized seven-day yield at period end.
(c)	The Fund may purchase securities that are subject to legal or contractual restrictions on resale ("restricted securities"). Restricted securities are securities which have not been registered with the Securities and Exchange Commission under the Securities Act of 1933. The Fund may be unable to sell a restricted security and it may be more difficult to determine a market value for a restricted security. Moreover, if adverse market conditions were to develop during the period between the Fund's decision to sell a restricted security and the point at which the Fund is permitted or able to sell such security, the Fund might obtain a price less favorable than the price that prevailed when it decided to sell. This investment practice, therefore, could have the effect of increasing the level of illiquidity of the Fund. The future value of these securities is uncertain and there may be changes in the estimated value of these securities.

Schedule of

Restricted Securities

Acquisition Date

Cost ($)

Value ($)

Value as %

of Net Assets

Dawn Holdings, Inc.*

August 2013

5,863

4,691

0.01

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.

LIBOR: London Interbank Offered Rate

PIK: Denotes that all or a portion of the income is paid in-kind in the form of additional principal.

REG S: Securities sold under Regulation S may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

REIT: Real Estate Investment Trust

The Fund can invest in certain Senior Loan agreements that include the obligation to make additional loans in certain circumstances. The Fund reserves against such contingent obligations by segregating cash, liquid securities and liquid Senior Loans. At August 31, 2013, the Fund had an unfunded loan commitment of $135,000, which could be extended at the option of the borrower, pursuant to the following loan agreement:

Borrower

Unfunded Loan Commitment ($)

Value ($)

Unrealized Appreciation ($)

Tallgrass Energy Partners LP,

Term Delay Draw, 11/13/2017

135,000

135,675

675

At August 31, 2013, open written options contracts were as follows:

Options on Interest Rate Swap Contracts

Swap

Effective/

Expiration

Date

Contract

Amount

Option

Expiration

Date

Premiums

Received ($)

Value ($) (d)

Call Options

Receive Fixed - 4.22% - Pay Floating - LIBOR

4/22/2016

4/22/2026

200,000

4/20/2016

7,130

(9,681

)

(d)	Unrealized depreciation on written options on interest rate swap contracts at August 31, 2013 was $2,551.
At August 31, 2013, open credit default swap contracts sold were as follows:

Effective/ Expiration Date	Notional Amount ($) (e)	Fixed Cash Flows Received	Underlying Debt Obligation/ Quality Rating (f)	Value ($)	Upfront Payments Paid/ (Received) ($)		Unrealized Appreciation ($)

6/21/2010 9/20/2013	350,0002	5.0%	Ford Motor Co., 6.5%, 8/1/2018, BBB-	4,548	(1,742)		6,290
6/21/2010 9/20/2015	425,0003	5.0%	Ford Motor Co., 6.5%, 8/1/2018, BBB-	42,234	(9,714)		51,948
12/20/2011 3/20/2017	150,0004	5.0%	CIT Group, Inc., 5.5%, 2/15/2019, BB-	18,495	4,490		14,005
12/20/2012 12/20/2017	500,0003	5.0%	Markit Dow Jones CDX North America High Yield Index	31,018	9,414		21,604
9/20/2012 12/20/2017	190,0005	5.0%	General Motors Corp., 3.3%, 12/20/2017, BB+	27,241	12,153		15,088
6/20/2013 9/20/2018	260,0002	5.0%	HCA, Inc., 8.0%, 10/1/2018, B-	22,115	21,000		1,115
6/20/2013 9/20/2018	260,0003	5.0%	Sprint Communications, Inc., 6.0%, 12/1/2016, BB-	16,400	15,608		792
Total unrealized appreciation						110,842

(e)

The maximum potential amount of future undiscounted payments that the Fund could be required to make under a credit default swap contract would be the notional amount of the contract. These potential amounts would be partially offset by any recovery values of the referenced debt obligation or net amounts received from the settlement of buy protection credit default swap contracts entered into by the Fund for the same referenced debt obligation, if any.

(f)

The quality ratings represent the higher of Moody's Investors Service, Inc. ("Moody's") or Standard & Poor's Corporation ("S&P") credit ratings and are unaudited.

Counterparties:
1	Nomura International PLC
2	The Goldman Sachs & Co.
3	Bank of America
4	Credit Suisse
5	UBS AG

As of August 31, 2013, the Fund had the following open forward foreign currency exchange contracts:

Contracts to Deliver

In Exchange For

Settlement

Date

Unrealized

Appreciation ($)

Counterparty

EUR

440,000

USD

583,419

9/17/2013

1,861

Citigroup, Inc.

Currency Abbreviations

ARS	Argentine Peso	MXN	Mexican Peso
BRL	Brazilian Real	RUB	Russian Ruble
EUR	Euro	USD	United States Dollar

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 August 31, 2013 in valuing the Fund's investments.

Assets	Level 1		Level 2			Level 3		Total
Fixed Income Investments (g)
Corporate Bonds	$	—	$	60,296,914		$	0	$	60,296,914
Government & Agency Obligations		—		5,730,096			—		5,730,096
Loan Participations and Assignments		—		21,554,456			—		21,554,456
Convertible Bonds		—		137,963			175,852		313,815
Preferred Securities		—		155,750			—		155,750
Other Investments		—		4,691			—		4,691
Common Stocks (g)		—		22,322			—		22,322
Preferred Stock		—		149,720			—		149,720
Warrants (g)		—		—			7,753		7,753
Short-Term Investments (g)		6,493,130		—			—		6,493,130
Unfunded Loan Commitment		—		675			—		675
Derivatives (g)
Purchased Options		—		13,501			—		13,501
Credit Default Swap Contracts		—		110,842			—		110,842
Forward Foreign Currency Exchange Contracts		—		1,861			—		1,861

Total	$	6,493,130	$	88,178,791		$	183,605	$	94,855,526

Liabilities
Derivatives (h)
Written Options		—		(9,681	)		—		(9,681	)

Total	$	—	$	(9,681	)	$	—	$	(9,681	)

During the period ended August 31, 2013, the amount of transfers between Level 2 and Level 3 was $75. Investments were transferred from Level 2 to Level 3 because of the lack of observable market data due to a decrease in market activity.
Transfers between price levels are recognized at the beginning of the reporting period.
(g)	See Investment Portfolio for additional detailed categorizations.
(h)	Derivatives include value of options purchased, unrealized appreciation (depreciation) on open futures contracts, credit default swap contracts, interest rate swap contracts, forward foreign currency exchange contracts, and written options, at value.

Derivatives

The following table presents, by major type of derivative contract, the unrealized appreciation (depreciation) of the Fund's derivative instruments as of August 31, 2013 categorized by the primary underlying risk exposure.

Primary Underlying Risk Disclosure	Swaps		Forward Currency Contracts		Options
Credit Contracts	$	110,842	$	—	$	—
Foreign Exchange Contracts	$	—	$	1,861	$	—
Interest Rate Contracts	$	—	$	—	$	1,080

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 Strategic Income Trust

By:	/s/Robert Kendall Robert Kendall President

Date:	October 23, 2013

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.

By:	/s/Robert Kendall Robert Kendall President

Date:	October 23, 2013



By:	/s/Paul Schubert Paul Schubert Chief Financial Officer and Treasurer

Date:	October 23, 2013