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:  811-00043
 
DWS Investment 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:   9/30
 
Date of reporting period:   12/31/2013

ITEM 1.
SCHEDULE OF INVESTMENTS


Investment Portfolio    as of   December 31, 2013  (Unaudited)
 
DWS Capital Growth Fund
 
Shares
 
Value ($)
 
 
 
Common Stocks 100.0%
 
Consumer Discretionary 20.6%
 
Auto Components 0.8%
 
BorgWarner, Inc. (a)
 
235,400
 
13,161,213
 
Hotels, Restaurants & Leisure 3.6%
 
Brinker International, Inc. (a)
 
255,117
 
11,822,122
 
Las Vegas Sands Corp.
 
258,479
 
20,386,239
 
Norwegian Cruise Line Holdings Ltd.*
 
136,590
 
4,844,847
 
Starwood Hotels & Resorts Worldwide, Inc.
 
244,205
 
19,402,087
 
 
 
56,455,295
 
Internet & Catalog Retail 2.3%
 
Amazon.com, Inc.*
 
71,471
 
28,501,920
 
Expedia, Inc. (a)
 
105,257
 
7,332,203
 
 
 
35,834,123
 
Media 3.2%
 
Comcast Corp. "A" (a)
 
599,805
 
31,168,867
 
Twenty-First Century Fox, Inc. "A" (a)
 
561,460
 
19,752,163
 
 
 
50,921,030
 
Multiline Retail 1.1%
 
Dollar General Corp.*
 
279,582
 
16,864,386
 
Specialty Retail 5.4%
 
Dick's Sporting Goods, Inc.
 
332,284
 
19,305,700
 
GNC Holdings, Inc. "A"
 
171,329
 
10,014,180
 
Home Depot, Inc.
 
400,820
 
33,003,519
 
L Brands, Inc.
 
373,120
 
23,077,472
 
 
 
85,400,871
 
Textiles, Apparel & Luxury Goods 4.2%
 
NIKE, Inc. "B"
 
601,146
 
47,274,122
 
VF Corp.
 
289,680
 
18,058,651
 
 
 
65,332,773
 
Consumer Staples 10.2%
 
Beverages 3.3%
 
Beam, Inc.
 
262,622
 
17,874,053
 
PepsiCo., Inc.
 
415,573
 
34,467,625
 
 
 
52,341,678
 
Food & Staples Retailing 3.7%
 
Costco Wholesale Corp.
 
228,894
 
27,240,675
 
Whole Foods Market, Inc.
 
526,164
 
30,428,064
 
 
 
57,668,739
 
Food Products 3.2%
 
Hillshire Brands Co.
 
400,090
 
13,379,010
 
Mead Johnson Nutrition Co.
 
149,450
 
12,517,932
 
Mondelez International, Inc. "A"
 
704,384
 
24,864,755
 
 
 
50,761,697
 
Energy 4.4%
 
Energy Equipment & Services 2.5%
 
Halliburton Co.
 
459,880
 
23,338,910
 
Schlumberger Ltd.
 
174,445
 
15,719,239
 
 
 
39,058,149
 
Oil, Gas & Consumable Fuels 1.9%
 
Anadarko Petroleum Corp.
 
67,932
 
5,388,367
 
Antero Resources Corp.*
 
141,430
 
8,972,319
 
Pioneer Natural Resources Co.
 
88,045
 
16,206,443
 
 
 
30,567,129
 
Financials 5.3%
 
Capital Markets 4.0%
 
Affiliated Managers Group, Inc.*
 
141,693
 
30,730,378
 
Ameriprise Financial, Inc.
 
117,447
 
13,512,277
 
Charles Schwab Corp.
 
740,286
 
19,247,436
 
 
 
63,490,091
 
Consumer Finance 1.3%
 
Discover Financial Services
 
358,650
 
20,066,468
 
Health Care 15.4%
 
Biotechnology 8.6%
 
Celgene Corp.*
 
260,297
 
43,979,781
 
Cepheid, Inc.* (a)
 
266,836
 
12,466,578
 
Gilead Sciences, Inc.* (a)
 
694,129
 
52,163,795
 
Medivation, Inc.*
 
234,326
 
14,954,685
 
NPS Pharmaceuticals, Inc.* (a)
 
370,997
 
11,263,469
 
 
 
134,828,308
 
Health Care Equipment & Supplies 1.6%
 
CareFusion Corp.*
 
367,142
 
14,619,594
 
St. Jude Medical, Inc.
 
165,086
 
10,227,078
 
 
 
24,846,672
 
Health Care Providers & Services 3.8%
 
Express Scripts Holding Co.*
 
454,840
 
31,947,961
 
McKesson Corp.
 
166,977
 
26,950,088
 
Premier, Inc. "A"* (a)
 
52,001
 
1,911,557
 
 
 
60,809,606
 
Life Sciences Tools & Services 1.4%
 
Thermo Fisher Scientific, Inc. (a)
 
195,226
 
21,738,415
 
Industrials 12.5%
 
Aerospace & Defense 2.0%
 
Boeing Co.
 
142,758
 
19,485,040
 
TransDigm Group, Inc.
 
78,757
 
12,681,452
 
 
 
32,166,492
 
Commercial Services & Supplies 0.7%
 
Stericycle, Inc.* (a)
 
99,971
 
11,613,631
 
Electrical Equipment 3.3%
 
AMETEK, Inc.
 
475,817
 
25,061,281
 
Regal-Beloit Corp.
 
88,060
 
6,491,783
 
Roper Industries, Inc.
 
141,947
 
19,685,210
 
 
 
51,238,274
 
Industrial Conglomerates 1.2%
 
General Electric Co.
 
660,787
 
18,521,860
 
Machinery 4.0%
 
Dover Corp. (a)
 
199,928
 
19,301,049
 
Parker Hannifin Corp.
 
239,215
 
30,772,618
 
SPX Corp.
 
127,530
 
12,703,263
 
 
 
62,776,930
 
Road & Rail 1.3%
 
Norfolk Southern Corp.
 
219,191
 
20,347,500
 
Information Technology 25.9%
 
Communications Equipment 1.2%
 
QUALCOMM, Inc.
 
255,588
 
18,977,409
 
Computers & Peripherals 4.6%
 
Apple, Inc.
 
112,365
 
63,049,125
 
Stratasys Ltd.* (a)
 
61,955
 
8,345,339
 
 
 
71,394,464
 
Internet Software & Services 6.0%
 
eBay, Inc.*
 
226,982
 
12,459,042
 
Google, Inc. "A"*
 
60,029
 
67,275,100
 
LinkedIn Corp. "A"*
 
68,118
 
14,770,026
 
 
 
94,504,168
 
IT Services 4.0%
 
Accenture PLC "A"
 
276,973
 
22,772,720
 
Visa, Inc. "A" (a)
 
177,862
 
39,606,310
 
 
 
62,379,030
 
Semiconductors & Semiconductor Equipment 0.5%
 
Avago Technologies Ltd.
 
153,394
 
8,113,009
 
Software 9.6%
 
Check Point Software Technologies Ltd.* (a)
 
58,632
 
3,782,937
 
Citrix Systems, Inc.*
 
287,692
 
18,196,519
 
FireEye, Inc.* (a)
 
97,122
 
4,235,490
 
Guidewire Software, Inc.*
 
101,463
 
4,978,789
 
Intuit, Inc.
 
204,205
 
15,584,926
 
Microsoft Corp.
 
1,386,857
 
51,910,057
 
Oracle Corp.
 
389,887
 
14,917,077
 
Salesforce.com, Inc.*
 
156,357
 
8,629,343
 
Solera Holdings, Inc.
 
103,394
 
7,316,159
 
Splunk, Inc.*
 
66,527
 
4,568,409
 
VMware, Inc. "A"* (a)
 
182,859
 
16,404,281
 
 
 
150,523,987
 
Materials 4.5%
 
Chemicals 4.0%
 
Ecolab, Inc. (a)
 
230,376
 
24,021,306
 
LyondellBasell Industries NV "A"
 
192,478
 
15,452,134
 
Monsanto Co.
 
192,873
 
22,479,348
 
 
 
61,952,788
 
Containers & Packaging 0.5%
 
Ball Corp.
 
152,635
 
7,885,124
 
Telecommunication Services 0.9%
 
Wireless Telecommunication Services
 
Crown Castle International Corp.*
 
183,483
 
13,473,157
 
Utilities 0.3%
 
Water Utilities
 
American Water Works Co., Inc.
 
104,744
 
4,426,481
 
 
Total Common Stocks (Cost $970,380,112)
 
1,570,440,947
 
 
 
Securities Lending Collateral 14.0%
 
Daily Assets Fund Institutional, 0.08% (b) (c) (Cost $219,750,255)
   
219,750,255
 
219,750,255
 
 
 
Cash Equivalents 0.4%
 
Central Cash Management Fund, 0.05% (b) (Cost $7,059,283)
   
7,059,283
 
7,059,283
 
         
 
% of
Net Assets
 
Value ($)
 
 
Total Investment Portfolio (Cost $1,197,189,650) †
114.4
 
1,797,250,485
 
Other Assets and Liabilities, Net
(14.4)
 
(226,354,790)
 
 
Net Assets
100.0
 
1,570,895,695
 

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 $1,199,039,759.  At December 31, 2013, net unrealized appreciation for all securities based on tax cost was $598,210,726.  This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $603,686,198 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $5,475,472.
(a)
All or a portion of these securities were on loan. In addition, "Other Assets and Liabilities, Net" may include pending sales that are also on loan. The value of securities loaned at December 31, 2013 amounted to $216,038,611, which is 13.8% 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.
 

 
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 level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.

The following is a summary of the inputs used as of December 31, 2013 in valuing the Fund's investments.

Assets
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Common Stocks (d)
  $ 1,570,440,947     $ —     $ —     $ 1,570,440,947  
Short-Term Investments (d)
    226,809,538       —       —       226,809,538  
Total
  $ 1,797,250,485     $ —     $ —     $ 1,797,250,485  

There have been no transfers between fair value measurement levels during the period ended December 31, 2013.
 
 
(d)
See Investment Portfolio for additional detailed categorizations.




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 Capital Growth Fund, a series of DWS Investment Trust
   
By:
/s/Brian E. Binder
Brian E. Binder
President
   
Date:
February 21, 2014


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/Brian E. Binder
Brian E. Binder
President
   
Date:
February 21, 2014
   
   
   
By:
/s/Paul Schubert
Paul Schubert
Chief Financial Officer and Treasurer
   
Date:
February 21, 2014

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