Edgar Filing: DWS STRATEGIC INCOME TRUST

nq022814ce-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: 2/28/2014

ITEM 1.

SCHEDULE OF INVESTMENTS

Investment Portfolio

as of February 28, 2014 (Unaudited)

DWS Strategic Income Trust

				Principal Amount ($) (a)				Value ($)
	Corporate Bonds 95.7%
Consumer Discretionary 14.1%
AMC Entertainment, Inc., 144A, 5.875%, 2/15/2022					80,000			81,000
AMC Networks, Inc., 7.75%, 7/15/2021					35,000			39,725
AmeriGas Finance LLC:
	6.75%, 5/20/2020				165,000			179,850
	7.0%, 5/20/2022				135,000			147,487
APX Group, Inc.:
	6.375%, 12/1/2019				75,000			77,344
	144A, 8.75%, 12/1/2020				10,000			10,400
Arcelik AS, 144A, 5.0%, 4/3/2023					220,000			193,050
Asbury Automotive Group, Inc., 8.375%, 11/15/2020					100,000			112,750
Ashtead Capital, Inc., 144A, 6.5%, 7/15/2022					120,000			130,200
Ashton Woods U.S.A. LLC, 144A, 6.875%, 2/15/2021					125,000			124,687
Avis Budget Car Rental LLC:
	5.5%, 4/1/2023				80,000			80,800
	8.25%, 1/15/2019				95,000			102,244
BC Mountain LLC, 144A, 7.0%, 2/1/2021					70,000			69,650
Block Communications, Inc., 144A, 7.25%, 2/1/2020					155,000			165,462
Boyd Gaming Corp., 9.0%, 7/1/2020					55,000			59,812
Cablevision Systems Corp., 8.0%, 4/15/2020					25,000			29,438
Caesar's Entertainment Operating Co., Inc.:
	8.5%, 2/15/2020				155,000			148,800
	9.0%, 2/15/2020				95,000			92,387
CCO Holdings LLC:
	6.5%, 4/30/2021				635,000			678,656
	6.625%, 1/31/2022				175,000			188,562
	7.0%, 1/15/2019				45,000			47,644
	7.375%, 6/1/2020				20,000			21,900
	8.125%, 4/30/2020				25,000			27,375
Century Intermediate Holding Co. 2, 144A, 9.75%, 2/15/2019 (PIK)					40,000			42,100
Cequel Communications Holdings I LLC:
	144A, 5.125%, 12/15/2021				130,000			129,675
	144A, 6.375%, 9/15/2020				430,000			454,725
Chester Downs & Marina LLC, 144A, 9.25%, 2/1/2020					30,000			29,400
Clear Channel Communications, Inc., 11.25%, 3/1/2021					50,000			55,875
Clear Channel Worldwide Holdings, Inc.:
	Series A, 6.5%, 11/15/2022				95,000			100,462
	Series B, 6.5%, 11/15/2022				135,000			143,775
	Series A, 7.625%, 3/15/2020				20,000			21,500
	Series B, 7.625%, 3/15/2020				230,000			248,975
Cogeco Cable, Inc., 144A, 4.875%, 5/1/2020					10,000			10,000
Columbus International, Inc., 144A, 11.5%, 11/20/2014					100,000			105,750
Crown Media Holdings, Inc., 10.5%, 7/15/2019					60,000			68,100
Cumulus Media Holdings, Inc., 7.75%, 5/1/2019					70,000			75,600
DBP Holding Corp., 144A, 7.75%, 10/15/2020					45,000			43,763
DISH DBS Corp.:
	4.25%, 4/1/2018				100,000			104,000
	4.625%, 7/15/2017				400,000			424,500
	5.0%, 3/15/2023				125,000			124,062
	6.75%, 6/1/2021				30,000			33,600
	7.125%, 2/1/2016				90,000			99,000
GLP Capital LP, 144A, 4.375%, 11/1/2018					35,000			36,313
Griffey Intermediate, Inc., 144A, 7.0%, 10/15/2020					75,000			65,437
Harron Communications LP, 144A, 9.125%, 4/1/2020					155,000			175,150
Hot Topic, Inc., 144A, 9.25%, 6/15/2021					55,000			58,713
Jo-Ann Stores Holdings, Inc., 144A, 9.75%, 10/15/2019 (PIK)					140,000			146,650
L Brands, Inc., 7.0%, 5/1/2020					65,000			74,262
Lamar Media Corp., 144A, 5.375%, 1/15/2024					60,000			61,950
Libbey Glass, Inc., 6.875%, 5/15/2020					45,000			48,713
Live Nation Entertainment, Inc., 144A, 7.0%, 9/1/2020					130,000			142,675
MDC Partners, Inc., 144A, 6.75%, 4/1/2020					90,000			96,075
Mediacom Broadband LLC, 6.375%, 4/1/2023					155,000			163,525
Mediacom LLC, 7.25%, 2/15/2022					45,000			48,825
MGM Resorts International:
	6.625%, 12/15/2021				230,000			252,425
	6.75%, 10/1/2020				35,000			38,675
	7.625%, 1/15/2017				100,000			113,750
	8.625%, 2/1/2019				340,000			406,300
Midcontinent Communications & Midcontinent Finance Corp., 144A, 6.25%, 8/1/2021					70,000			72,800
Netflix, Inc., 144A, 5.75%, 3/1/2024					60,000			62,400
PETCO Animal Supplies, Inc., 144A, 9.25%, 12/1/2018					60,000			64,500
PNK Finance Corp., 144A, 6.375%, 8/1/2021					90,000			94,050
Quebecor Media, Inc., 5.75%, 1/15/2023					80,000			81,000
Regal Entertainment Group, 9.125%, 8/15/2018					38,000			41,115
Schaeffler Finance BV, 144A, 7.75%, 2/15/2017					200,000			226,000
Seminole Hard Rock Entertainment, Inc., 144A, 5.875%, 5/15/2021					50,000			50,250
Seminole Tribe of Florida, Inc., 144A, 7.804%, 10/1/2020					115,000			127,650
Serta Simmons Holdings LLC, 144A, 8.125%, 10/1/2020					45,000			49,388
Sirius XM Holdings, Inc., 144A, 5.875%, 10/1/2020					80,000			84,200
SIWF Merger Sub, Inc., 144A, 6.25%, 6/1/2021					115,000			117,875
Starz LLC, 5.0%, 9/15/2019					60,000			62,325
Taylor Morrison Communities, Inc., 144A, 5.25%, 4/15/2021					95,000			94,050
UCI International, Inc., 8.625%, 2/15/2019					45,000			43,313
Unitymedia Hessen GmbH & Co., KG:
	144A, 5.5%, 1/15/2023				300,000			310,500
	144A, 7.5%, 3/15/2019				150,000			163,125
Unitymedia KabelBW GmbH, 144A, 9.625%, 12/1/2019		EUR			160,000			242,337
Univision Communications, Inc.:
	144A, 6.875%, 5/15/2019				20,000			21,500
	144A, 7.875%, 11/1/2020				50,000			55,375
	144A, 8.5%, 5/15/2021				30,000			33,338
Viking Cruises Ltd., 144A, 8.5%, 10/15/2022					80,000			91,000
Visant Corp., 10.0%, 10/1/2017					80,000			77,400
Visteon Corp., 6.75%, 4/15/2019					57,000			60,064

								9,379,078
Consumer Staples 3.7%
Ajecorp BV, 144A, 6.5%, 5/14/2022					150,000			147,000
B&G Foods, Inc., 4.625%, 6/1/2021					90,000			89,663
Big Heart Pet Brands, 7.625%, 2/15/2019					107,000			111,414
Chiquita Brands International, Inc., 7.875%, 2/1/2021					34,000			37,468
Controladora Mabe SA de CV, 144A, 7.875%, 10/28/2019					200,000			222,750
FAGE Dairy Industry SA, 144A, 9.875%, 2/1/2020					90,000			95,625
JBS U.S.A. LLC:
	144A, 7.25%, 6/1/2021				205,000			216,787
	144A, 8.25%, 2/1/2020				65,000			71,175
Pilgrim's Pride Corp., 7.875%, 12/15/2018					60,000			64,950
Reynolds Group Issuer, Inc.:
	5.75%, 10/15/2020				260,000			271,425
	6.875%, 2/15/2021				205,000			222,937
	7.125%, 4/15/2019				540,000			574,425
	8.25%, 2/15/2021				100,000			109,250
Roundy's Supermarkets, Inc., 144A, 10.25%, 12/15/2020					80,000			85,200
Smithfield Foods, Inc., 6.625%, 8/15/2022					80,000			86,400
U.S. Foods, Inc., 8.5%, 6/30/2019					80,000			86,700

								2,493,169
Energy 15.5%
Access Midstream Partners LP:
	4.875%, 5/15/2023				130,000			132,600
	6.125%, 7/15/2022				135,000			146,475
Afren PLC, 144A, 10.25%, 4/8/2019					140,000			160,125
Antero Resources Finance Corp.:
	144A, 5.375%, 11/1/2021				80,000			81,800
	7.25%, 8/1/2019				71,000			76,325
Berry Petroleum Co., LLC:
	6.375%, 9/15/2022				75,000			78,188
	6.75%, 11/1/2020				215,000			227,362
BreitBurn Energy Partners LP:
	7.875%, 4/15/2022				260,000			283,400
	8.625%, 10/15/2020				40,000			43,300
Chaparral Energy, Inc., 7.625%, 11/15/2022					70,000			75,950
Chesapeake Energy Corp., 7.25%, 12/15/2018					535,000			629,962
Chesapeake Oilfield Operating LLC, 6.625%, 11/15/2019					85,000			90,100
CITGO Petroleum Corp., 144A, 11.5%, 7/1/2017					100,000			108,000
Crestwood Midstream Partners LP:
	144A, 6.125%, 3/1/2022				60,000			62,700
	7.75%, 4/1/2019				115,000			125,063
Crosstex Energy LP, 7.125%, 6/1/2022					31,000			35,650
Denbury Resources, Inc., 4.625%, 7/15/2023					70,000			65,975
Dresser-Rand Group, Inc., 6.5%, 5/1/2021					155,000			165,850
EDC Finance Ltd., 144A, 4.875%, 4/17/2020					200,000			190,250
El Paso LLC, 7.25%, 6/1/2018					105,000			119,853
Endeavor Energy Resources LP, 144A, 7.0%, 8/15/2021					105,000			110,775
EP Energy LLC:
	6.875%, 5/1/2019				140,000			151,025
	7.75%, 9/1/2022				75,000			84,563
	9.375%, 5/1/2020				30,000			34,725
EV Energy Partners LP, 8.0%, 4/15/2019					340,000			350,200
Halcon Resources Corp.:
	8.875%, 5/15/2021				150,000			152,625
	9.75%, 7/15/2020				60,000			63,150
	144A, 9.75%, 7/15/2020				85,000			89,356
Holly Energy Partners LP:
	6.5%, 3/1/2020				45,000			47,475
	8.25%, 3/15/2018				110,000			114,751
KazMunayGas National Co. JSC, 144A, 7.0%, 5/5/2020					200,000			224,740
Kinder Morgan Finance Co., LLC, 144A, 6.0%, 1/15/2018					165,000			181,912
Kodiak Oil & Gas Corp., 5.5%, 1/15/2021					150,000			154,500
Linn Energy LLC:
	6.5%, 5/15/2019				50,000			52,125
	144A, 7.0%, 11/1/2019				225,000			234,562
MEG Energy Corp.:
	144A, 6.5%, 3/15/2021				85,000			89,675
	144A, 7.0%, 3/31/2024				225,000			236,250
Midstates Petroleum Co., Inc.:
	9.25%, 6/1/2021				270,000			285,525
	10.75%, 10/1/2020				180,000			197,550
Murphy Oil U.S.A., Inc., 144A, 6.0%, 8/15/2023					110,000			111,925
Newfield Exploration Co., 5.75%, 1/30/2022					80,000			86,200
Northern Oil & Gas, Inc., 8.0%, 6/1/2020					230,000			244,950
Oasis Petroleum, Inc.:
	6.5%, 11/1/2021				65,000			70,200
	144A, 6.875%, 3/15/2022				165,000			179,025
	6.875%, 1/15/2023				50,000			54,375
	7.25%, 2/1/2019				265,000			284,875
Offshore Drilling Holding SA, 144A, 8.375%, 9/20/2020					200,000			217,500
Offshore Group Investment Ltd.:
	7.125%, 4/1/2023				155,000			158,488
	7.5%, 11/1/2019				170,000			183,175
Pacific Drilling SA, 144A, 5.375%, 6/1/2020					90,000			91,125
Pacific Rubiales Energy Corp., 144A, 7.25%, 12/12/2021					150,000			161,250
Petroleos de Venezuela SA, 144A, 8.5%, 11/2/2017					150,000			121,125
Regency Energy Partners LP, 5.875%, 3/1/2022					10,000			10,400
Reliance Holdings U.S.A., Inc., 144A, 5.4%, 2/14/2022					250,000			260,469
Sabine Pass Liquefaction LLC:
	144A, 5.625%, 4/15/2023				100,000			98,250
	144A, 5.875%, 2/1/2021				260,000			266,500
Samson Investment Co., 144A, 10.75%, 2/15/2020					60,000			66,675
SandRidge Energy, Inc., 7.5%, 3/15/2021					190,000			200,925
SESI LLC:
	6.375%, 5/1/2019				90,000			96,075
	7.125%, 12/15/2021				275,000			305,250
Swift Energy Co., 7.875%, 3/1/2022					115,000			117,875
Talos Production LLC, 144A, 9.75%, 2/15/2018					145,000			152,250
Tesoro Corp., 5.375%, 10/1/2022					60,000			61,950
Ultra Petroleum Corp., 144A, 5.75%, 12/15/2018					35,000			36,663
Venoco, Inc., 8.875%, 2/15/2019					110,000			110,825
Whiting Petroleum Corp., 5.0%, 3/15/2019					100,000			105,750
Woodbine Holdings LLC, 12.0%, 5/15/2016					375,000			397,500
WPX Energy, Inc., 5.25%, 1/15/2017					295,000			316,756

								10,322,738
Financials 7.9%
AerCap Aviation Solutions BV, 6.375%, 5/30/2017					270,000			294,300
Akbank TAS, 144A, 5.125%, 7/22/2015					130,000			132,811
Ally Financial, Inc.:
	3.5%, 1/27/2019				280,000			282,100
	5.5%, 2/15/2017				655,000			715,587
Banco de Credito del Peru, 144A, 6.875%, 9/16/2026					200,000			210,000
Banco Santander Brasil SA, 144A, 8.0%, 3/18/2016		BRL			300,000			117,710
CIT Group, Inc.:
	3.875%, 2/19/2019				415,000			420,759
	4.25%, 8/15/2017				515,000			540,106
	5.0%, 5/15/2017				80,000			85,800
Credit Agricole SA, 144A, 7.875%, 1/23/2024					125,000			134,219
E*TRADE Financial Corp.:
	6.0%, 11/15/2017				513,000			543,780
	6.375%, 11/15/2019				265,000			287,525
	6.75%, 6/1/2016				145,000			156,962
Hellas Telecommunications Finance, 144A, 8.282% *, 7/15/2015 (PIK)		EUR			109,187			0
International Lease Finance Corp.:
	3.875%, 4/15/2018				285,000			293,194
	6.25%, 5/15/2019				125,000			140,375
	8.625%, 1/15/2022				125,000			155,937
MPT Operating Partnership LP:
	(REIT), 6.375%, 2/15/2022				110,000			115,500
	(REIT), 6.875%, 5/1/2021				110,000			119,075
Neuberger Berman Group LLC:
	144A, 5.625%, 3/15/2020				65,000			68,413
	144A, 5.875%, 3/15/2022				110,000			115,500
Societe Generale SA, 144A, 7.875%, 12/18/2023					310,000			330,150

								5,259,803
Health Care 8.4%
Aviv Healthcare Properties LP:
	6.0%, 10/15/2021				40,000			41,700
	7.75%, 2/15/2019				200,000			216,000
Biomet, Inc.:
	6.5%, 8/1/2020				135,000			145,631
	6.5%, 10/1/2020				40,000			42,650
Community Health Systems, Inc.:
	5.125%, 8/15/2018				695,000			735,831
	144A, 5.125%, 8/1/2021				20,000			20,700
	144A, 6.875%, 2/1/2022				80,000			85,100
	7.125%, 7/15/2020				750,000			819,375
Endo Finance Co., 144A, 5.75%, 1/15/2022					80,000			82,600
Fresenius Medical Care U.S. Finance II, Inc., 144A, 5.625%, 7/31/2019					90,000			96,975
Fresenius Medical Care U.S. Finance, Inc.:
	144A, 5.75%, 2/15/2021				70,000			74,900
	144A, 6.5%, 9/15/2018				45,000			50,625
HCA, Inc.:
	5.875%, 3/15/2022				120,000			131,100
	6.5%, 2/15/2020				675,000			761,906
	7.5%, 2/15/2022				170,000			197,200
Hologic, Inc., 6.25%, 8/1/2020					80,000			85,000
IMS Health, Inc., 144A, 6.0%, 11/1/2020					100,000			107,000
LifePoint Hospitals, Inc., 144A, 5.5%, 12/1/2021					105,000			109,856
Par Pharmaceutical Companies, Inc., 7.375%, 10/15/2020					125,000			135,313
Physio-Control International, Inc., 144A, 9.875%, 1/15/2019					62,000			69,440
Salix Pharmaceuticals Ltd., 144A, 6.0%, 1/15/2021					60,000			64,200
Tenet Healthcare Corp.:
	4.375%, 10/1/2021				150,000			148,125
	4.5%, 4/1/2021				20,000			19,950
	6.25%, 11/1/2018				415,000			459,613
Valeant Pharmaceuticals International, Inc., 144A, 6.75%, 8/15/2018					820,000			904,050

								5,604,840
Industrials 11.8%
Accuride Corp., 9.5%, 8/1/2018					80,000			81,600
ADT Corp., 144A, 6.25%, 10/15/2021					60,000			63,150
Air Lease Corp., 4.75%, 3/1/2020					110,000			115,775
Alphabet Holding Co., Inc.:
	7.75%, 11/1/2017 (PIK)				40,000			41,350
	144A, 7.75%, 11/1/2017 (PIK)				105,000			108,544
Artesyn Escrow, Inc., 144A, 9.75%, 10/15/2020					105,000			105,000
AWAS Aviation Capital Ltd., 144A, 7.0%, 10/17/2016					110,360			114,498
BE Aerospace, Inc., 6.875%, 10/1/2020					65,000			71,338
Belden, Inc., 144A, 5.5%, 9/1/2022					135,000			133,312
Bombardier, Inc.:
	144A, 5.75%, 3/15/2022				90,000			91,350
	144A, 7.75%, 3/15/2020				465,000			519,637
Casella Waste Systems, Inc., 7.75%, 2/15/2019					210,000			216,300
Cemex Finance LLC, 144A, 9.375%, 10/12/2022					200,000			229,200
Clean Harbors, Inc., 5.125%, 6/1/2021					100,000			102,000
CNH Capital LLC, 3.25%, 2/1/2017					335,000			340,025
Covanta Holding Corp., 5.875%, 3/1/2024 (b)					85,000			86,695
CTP Transportation Products LLC, 144A, 8.25%, 12/15/2019					105,000			112,087
Darling International, Inc., 144A, 5.375%, 1/15/2022					85,000			87,231
DigitalGlobe, Inc., 5.25%, 2/1/2021					55,000			54,450
Ducommun, Inc., 9.75%, 7/15/2018					140,000			157,150
DynCorp International, Inc., 10.375%, 7/1/2017					170,000			177,650
Ferreycorp SAA, 144A, 4.875%, 4/26/2020					200,000			187,250
Florida East Coast Railway Corp., 8.125%, 2/1/2017					40,000			41,820
FTI Consulting, Inc.:
	6.0%, 11/15/2022				80,000			82,400
	6.75%, 10/1/2020				295,000			320,812
Garda World Security Corp., 144A, 7.25%, 11/15/2021					105,000			111,300
GenCorp, Inc., 7.125%, 3/15/2021					280,000			303,100
Grupo KUO SAB de CV, 144A, 6.25%, 12/4/2022					200,000			203,000
Huntington Ingalls Industries, Inc.:
	6.875%, 3/15/2018				105,000			113,662
	7.125%, 3/15/2021				20,000			22,250
Kenan Advantage Group, Inc., 144A, 8.375%, 12/15/2018					220,000			233,200
Meritor, Inc.:
	6.25%, 2/15/2024				40,000			40,800
	6.75%, 6/15/2021				75,000			79,688
	10.625%, 3/15/2018				60,000			63,375
Navios Maritime Holdings, Inc.:
	144A, 7.375%, 1/15/2022				310,000			321,625
	8.125%, 2/15/2019				75,000			77,063
Navios South American Logistics, Inc., 9.25%, 4/15/2019					65,000			69,713
Nortek, Inc., 8.5%, 4/15/2021					85,000			95,200
Odebrecht Offshore Drilling Finance Ltd., 144A, 6.75%, 10/1/2022					886,140			911,617
Oshkosh Corp., 144A, 5.375%, 3/1/2022					60,000			61,350
Ply Gem Industries, Inc., 144A, 6.5%, 2/1/2022					100,000			101,500
Spirit AeroSystems, Inc., 6.75%, 12/15/2020					95,000			102,363
Titan International, Inc., 144A, 6.875%, 10/1/2020					260,000			274,950
TransDigm, Inc.:
	7.5%, 7/15/2021				125,000			137,812
	7.75%, 12/15/2018				135,000			144,619
United Rentals North America, Inc.:
	6.125%, 6/15/2023				10,000			10,600
	7.375%, 5/15/2020				480,000			536,400
	7.625%, 4/15/2022				120,000			136,350
Watco Companies LLC, 144A, 6.375%, 4/1/2023					60,000			60,600

								7,852,761
Information Technology 5.4%
ACI Worldwide, Inc., 144A, 6.375%, 8/15/2020					35,000			36,969
Activision Blizzard, Inc., 144A, 5.625%, 9/15/2021					335,000			360,125
Alliance Data Systems Corp., 144A, 5.25%, 12/1/2017					95,000			99,513
Audatex North America, Inc., 144A, 6.0%, 6/15/2021					60,000			64,050
BMC Software Finance, Inc., 144A, 8.125%, 7/15/2021					165,000			173,456
CDW LLC, 8.5%, 4/1/2019					165,000			181,500
CyrusOne LP, 6.375%, 11/15/2022					40,000			42,100
eAccess Ltd., 144A, 8.25%, 4/1/2018					60,000			65,100
EarthLink Holdings Corp., 7.375%, 6/1/2020					95,000			99,275
Equinix, Inc.:
	5.375%, 4/1/2023				265,000			268,975
	7.0%, 7/15/2021				90,000			100,125
First Data Corp.:
	144A, 6.75%, 11/1/2020				670,000			723,600
	144A, 7.375%, 6/15/2019				95,000			102,956
	144A, 8.875%, 8/15/2020				170,000			189,125
Freescale Semiconductor, Inc., 144A, 6.0%, 1/15/2022					100,000			106,125
Healthcare Technology Intermediate, Inc., 144A, 7.375%, 9/1/2018 (PIK)					25,000			25,875
Hughes Satellite Systems Corp.:
	6.5%, 6/15/2019				275,000			301,812
	7.625%, 6/15/2021				90,000			101,700
IAC/InterActiveCorp., 4.75%, 12/15/2022					75,000			72,563
Jabil Circuit, Inc., 5.625%, 12/15/2020					105,000			110,775
Micron Technology, Inc., 144A, 5.875%, 2/15/2022					40,000			41,800
NCR Corp.:
	144A, 5.875%, 12/15/2021				20,000			21,400
	144A, 6.375%, 12/15/2023				50,000			53,500
Seagate HDD Cayman, 144A, 3.75%, 11/15/2018					210,000			216,825

								3,559,244
Materials 9.2%
Ashland, Inc., 3.875%, 4/15/2018					315,000			326,025
Berry Plastics Corp.:
	9.5%, 5/15/2018				65,000			69,063
	9.75%, 1/15/2021				80,000			92,800
BOE Intermediate Holding Corp., 144A, 9.0%, 11/1/2017 (PIK)					115,005			123,630
BOE Merger Corp., 144A, 9.5%, 11/1/2017 (PIK)					75,000			79,688
Clearwater Paper Corp., 7.125%, 11/1/2018					140,000			149,100
Crown Americas LLC, 6.25%, 2/1/2021					20,000			21,900
CSN Resources SA, 144A, 6.5%, 7/21/2020					200,000			201,750
Essar Steel Algoma, Inc., 144A, 9.375%, 3/15/2015					430,000			424,625
Exopack Holding Corp., 144A, 10.0%, 6/1/2018					90,000			98,100
Exopack Holdings SA, 144A, 7.875%, 11/1/2019					200,000			208,000
Fibria Overseas Finance Ltd., 144A, 6.75%, 3/3/2021					150,000			164,625
First Quantum Minerals Ltd.:
	144A, 6.75%, 2/15/2020				195,000			200,850
	144A, 7.0%, 2/15/2021				195,000			201,337
FMG Resources (August 2006) Pty Ltd.:
	144A, 6.0%, 4/1/2017				130,000			137,150
	144A, 6.875%, 4/1/2022				25,000			27,125
	144A, 7.0%, 11/1/2015				70,000			72,527
	144A, 8.25%, 11/1/2019				110,000			121,275
Greif, Inc., 7.75%, 8/1/2019					230,000			262,200
Hexion U.S. Finance Corp.:
	6.625%, 4/15/2020				40,000			41,350
	8.875%, 2/1/2018				155,000			161,587
Huntsman International LLC, 8.625%, 3/15/2021					50,000			56,500
IAMGOLD Corp., 144A, 6.75%, 10/1/2020					110,000			96,800
INEOS Group Holdings SA, 144A, 5.875%, 2/15/2019					40,000			41,200
Kaiser Aluminum Corp., 8.25%, 6/1/2020					100,000			113,250
KGHM International Ltd., 144A, 7.75%, 6/15/2019					250,000			264,375
Metalloinvest Finance Ltd., 144A, 6.5%, 7/21/2016					200,000			211,500
Novelis, Inc., 8.75%, 12/15/2020					490,000			551,250
OI European Group BV, 144A, 6.75%, 9/15/2020		EUR			70,000			113,733
Packaging Dynamics Corp., 144A, 8.75%, 2/1/2016					90,000			92,363
Plastipak Holdings, Inc., 144A, 6.5%, 10/1/2021					100,000			103,500
Polymer Group, Inc., 7.75%, 2/1/2019					110,000			117,562
PolyOne Corp., 5.25%, 3/15/2023					90,000			90,675
Polyus Gold International Ltd., 144A, 5.625%, 4/29/2020					200,000			196,250
Rain CII Carbon LLC, 144A, 8.0%, 12/1/2018					100,000			104,500
Samarco Mineracao SA, 144A, 5.75%, 10/24/2023					200,000			201,000
Turkiye Sise ve Cam Fabrikalari AS, 144A, 4.25%, 5/9/2020					200,000			180,700
Volcan Cia Minera SAA, 144A, 5.375%, 2/2/2022					420,000			404,775

								6,124,640
Telecommunication Services 17.3%
B Communications Ltd., 144A, 7.375%, 2/15/2021					105,000			109,988
CenturyLink, Inc.:
	Series V, 5.625%, 4/1/2020				40,000			41,800
	Series N, 6.0%, 4/1/2017				500,000			552,500
	Series W, 6.75%, 12/1/2023				165,000			174,900
Cincinnati Bell, Inc.:
	8.375%, 10/15/2020				540,000			588,600
	8.75%, 3/15/2018				430,000			449,887
CPI International, Inc., 8.0%, 2/15/2018					50,000			53,000
Digicel Group Ltd.:
	144A, 8.25%, 9/30/2020				487,000			515,002
	144A, 10.5%, 4/15/2018				100,000			106,250
Digicel Ltd.:
	144A, 7.0%, 2/15/2020				200,000			205,750
	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			539,462
	7.625%, 4/15/2024				40,000			42,400
	8.25%, 4/15/2017				119,000			138,338
	8.5%, 4/15/2020				35,000			40,425
Intelsat Jackson Holdings SA:
	144A, 5.5%, 8/1/2023				165,000			163,144
	7.25%, 10/15/2020				435,000			473,062
	7.5%, 4/1/2021				465,000			512,662
	8.5%, 11/1/2019				220,000			237,875
Intelsat Luxembourg SA:
	144A, 7.75%, 6/1/2021				255,000			274,444
	144A, 8.125%, 6/1/2023				35,000			38,019
Level 3 Communications, Inc., 8.875%, 6/1/2019					10,000			11,025
Level 3 Financing, Inc.:
	144A, 6.125%, 1/15/2021				60,000			63,450
	7.0%, 6/1/2020				145,000			158,050
	8.125%, 7/1/2019				80,000			88,000
	8.625%, 7/15/2020				65,000			73,044
MetroPCS Wireless, Inc.:
	6.625%, 11/15/2020				65,000			69,713
	7.875%, 9/1/2018				155,000			165,075
Millicom International Cellular SA, 144A, 4.75%, 5/22/2020					200,000			192,000
SBA Communications Corp., 5.625%, 10/1/2019					75,000			78,563
SBA Telecommunications, Inc., 8.25%, 8/15/2019					26,000			27,723
Sprint Communications, Inc.:
	6.0%, 12/1/2016				775,000			847,656
	9.125%, 3/1/2017				65,000			76,863
Sprint Corp., 144A, 7.125%, 6/15/2024					105,000			110,250
T-Mobile U.S.A., Inc.:
	6.125%, 1/15/2022				40,000			42,250
	6.464%, 4/28/2019				235,000			250,862
	6.5%, 1/15/2024				40,000			42,400
	6.625%, 4/1/2023				95,000			102,125
Telesat Canada, 144A, 6.0%, 5/15/2017					900,000			933,750
tw telecom holdings, Inc.:
	5.375%, 10/1/2022				130,000			132,600
	6.375%, 9/1/2023				90,000			96,300
UPCB Finance III Ltd., 144A, 6.625%, 7/1/2020					490,000			523,687
UPCB Finance V Ltd., 144A, 7.25%, 11/15/2021					100,000			110,250
UPCB Finance VI Ltd., 144A, 6.875%, 1/15/2022					190,000			207,812
VimpelCom Holdings BV, 144A, 6.255%, 3/1/2017					200,000			212,900
Wind Acquisition Finance SA, 144A, 6.5%, 4/30/2020					80,000			88,200
Windstream Corp.:
	6.375%, 8/1/2023				95,000			93,575
	7.5%, 4/1/2023				150,000			157,500
	7.75%, 10/15/2020				30,000			32,250
	7.75%, 10/1/2021				265,000			286,200
	7.875%, 11/1/2017				310,000			354,950
Zayo Group LLC, 8.125%, 1/1/2020					55,000			60,638

								11,498,369
Utilities 2.4%
AES Corp.:
	8.0%, 10/15/2017				75,000			88,875
	8.0%, 6/1/2020				105,000			123,375
Calpine Corp.:
	144A, 7.5%, 2/15/2021				136,000			149,940
	144A, 7.875%, 7/31/2020				149,000			166,508
DPL, Inc., 6.5%, 10/15/2016					505,000			544,137
Energy Future Holdings Corp., Series Q, 6.5%, 11/15/2024					110,000			28,050
IPALCO Enterprises, Inc., 5.0%, 5/1/2018					175,608			186,144
Mexico Generadora de Energia S de rl, 144A, 5.5%, 12/6/2032					200,000			194,000
NRG Energy, Inc., 7.625%, 1/15/2018					75,000			84,750

								1,565,779

Total Corporate Bonds (Cost $60,937,723)						63,660,421
	Government & Agency Obligations 6.9%
Other Government Related (c) 1.4%
Bank of Moscow, 144A, 6.699%, 3/11/2015					360,000			375,199
Gazprom Neft OAO, 144A, 6.0%, 11/27/2023					250,000			251,562
VTB Bank OJSC, 144A, 6.315%, 2/22/2018					265,000			283,484

								910,245
Sovereign Bonds 5.5%
Federative Republic of Brazil, 12.5%, 1/5/2016		BRL			625,000			276,948
Republic of Argentina-Inflation Linked Bond, 5.83%, 12/31/2033		ARS			481			162
Republic of Belarus, REG S, 8.75%, 8/3/2015					100,000			100,500
Republic of Ghana, 144A, 8.5%, 10/4/2017					100,000			102,000
Republic of Panama, 9.375%, 1/16/2023					665,000			871,150
Republic of Slovenia, 144A, 4.75%, 5/10/2018					200,000			212,274
Russian Federation:
	144A, 7.5%, 3/31/2030				1,430,000			1,658,800
	REG S, 7.5%, 3/31/2030				385,921			447,669

								3,669,503

Total Government & Agency Obligations (Cost $4,565,153)						4,579,748
	Loan Participations and Assignments 30.9%
Senior Loans **
Consumer Discretionary 12.6%
Air Distribution Technologies, Inc., First Lien Term Loan, 4.25%, 11/9/2018					168,303			169,355
Atlantic Broadband Finance LLC, Term Loan B, 3.25%, 12/2/2019					1,129,282			1,127,520
Avis Budget Car Rental LLC, Term Loan B, 3.0%, 3/15/2019					369,070			369,148
Burger King Corp., Term Loan B, 3.75%, 9/28/2019					187,625			188,950
Caesars Entertainment Operating Co., Term Loan B6, 5.489%, 1/26/2018					33,532			32,138
Cequel Communications LLC, Term Loan B, 3.5%, 2/14/2019					427,823			428,270
CSC Holdings, Inc., Term Loan B, 2.655%, 4/17/2020					700,000			696,101
Cumulus Media Holdings, Inc., Term Loan, 4.25%, 12/23/2020					190,000			191,545
Goodyear Tire & Rubber Co., Second Lien Term Loan, 4.75%, 4/30/2019					930,000			941,160
Hilton Worldwide Finance LLC, Term Loan B2, 3.75%, 10/26/2020					236,842			237,969
Petco Animal Supplies, Inc., Term Loan, 4.0%, 11/24/2017					144,538			145,294
Pilot Travel Centers LLC:
	Term Loan B, 3.75%, 3/30/2018				269,488			271,088
	Term Loan B2, 4.25%, 8/7/2019				671,500			677,577
Polymer Group, Inc., First Lien Term Loan B, 5.25%, 12/19/2019					420,000			423,675
Quebecor Media, Inc., Term Loan B1, 3.25%, 8/17/2020					417,900			417,900
Seminole Tribe of Florida, Term Loan, 3.0%, 4/29/2020					1,004,350			1,005,711
Tomkins LLC, Term Loan B2, 3.75%, 9/29/2016					1,073,549			1,078,782

								8,402,183
Consumer Staples 4.3%
Albertson's LLC:
	Term Loan B1, 4.25%, 3/21/2016				385,386			388,637
	Term Loan B2, 4.75%, 3/21/2019				331,189			334,294
Del Monte Foods Co., Term Loan, 4.05%, 3/8/2018					371,918			372,662
Del Monte Foods, Inc., First Lien Term Loan, 4.0%, 11/6/2020					315,000			315,984
HJ Heinz Co., Term Loan B2, 3.5%, 6/5/2020					686,550			692,770
Pinnacle Foods Finance LLC, Term Loan G, 3.25%, 4/29/2020					119,100			118,877
Vogue International, Inc., Term Loan, 5.25%, 2/14/2020					165,000			166,031
Weight Watchers International, Inc., Term Loan B1, 3.16%, 4/2/2016					518,693			462,934

								2,852,189
Energy 3.1%
Chesapeake Energy Corp., Term Loan, 5.75%, 12/1/2017					355,000			363,559
MEG Energy Corp., Term Loan, 3.75%, 3/31/2020					654,989			658,828
Ruby Western Pipeline Holdings LLC, Term Loan B, 3.5%, 3/27/2020					73,398			73,421
Samson Investment Co., Second Lien Term Loan, 6.0%, 9/25/2018					540,000			545,670
Tallgrass Operations LLC, Term Loan B, 4.25%, 11/13/2018					431,946			436,266

								2,077,744
Health Care 1.7%
Community Health Systems, Inc., Term Loan D, 4.25%, 1/27/2021					210,000			212,165
Par Pharmaceutical Companies, Inc., Term Loan B, 4.0%, 9/30/2019					320,946			322,024
Valeant Pharmaceuticals International, Inc.:
	Term Loan B, 3.75%, 2/13/2019				337,437			339,072
	Term Loan B, 3.75%, 12/11/2019				228,266			229,456

								1,102,717
Industrials 1.8%
Buffalo Gulf Coast Terminals LLC, Term Loan, 5.25%, 10/31/2017					202,438			204,462
Transdigm, Inc., Term Loan C, 3.75%, 2/28/2020					540,408			543,532
WP CPP Holdings LLC, First Lien Term Loan, 4.75%, 12/27/2019					447,859			451,780

								1,199,774
Information Technology 0.7%
First Data Corp., Term Loan, 4.156%, 3/24/2021					490,000			491,303
Materials 2.3%
Axalta Coating Systems U.S. Holdings, Inc., Term Loan, 4.75%, 2/1/2020					558,357			561,696
Berry Plastics Holding Corp., Term Loan D, 3.5%, 2/7/2020					746,241			743,737
MacDermid, Inc., First Lien Term Loan, 4.0%, 6/8/2020					228,850			230,624

								1,536,057
Telecommunication Services 2.8%
Crown Castle International Corp., Term Loan, 3.25%, 1/31/2019					1,177,152			1,179,824
DigitalGlobe, Inc., Term Loan B, 3.75%, 1/31/2020					14,888			14,906
Level 3 Financing, Inc., Term Loan B, 4.0%, 1/15/2020					435,000			436,836
Syniverse Holdings, Inc., Term Loan B, 4.0%, 4/23/2019					208,447			209,750

								1,841,316
Utilities 1.6%
Calpine Corp., Term Loan B1, 4.0%, 4/2/2018					649,987			654,186
NRG Energy, Inc., Term Loan B, 2.75%, 7/2/2018					394,970			392,995

								1,047,181

Total Loan Participations and Assignments (Cost $20,505,463)						20,550,464
	Convertible Bond 0.3%
Materials
GEO Specialty Chemicals, Inc., 144A, 7.5%, 3/31/2015 (Cost $105,426)					105,307			204,001
	Preferred Security 0.2%
Materials
Hercules, Inc., 6.5%, 6/30/2029 (Cost $118,113)					175,000			153,125

				Shares				Value ($)
	Common Stocks 0.0%
Consumer Discretionary 0.0%
Dawn Holdings, Inc.* (d)			2					4,848
Trump Entertainment Resorts, Inc.*			8					0
Vertis Holdings, Inc. *			71					0

								4,848
Industrials 0.0%
Congoleum Corp. *			2,000					0
Materials 0.0%
GEO Specialty Chemicals, Inc. *			1,741					1,295

Total Common Stocks (Cost $26,132)						6,143
	Preferred Stock 0.4%
Financials
Ally Financial, Inc., Series G, 144A, 7.0% (Cost $232,624)			243					240,775
	Warrants 0.0%
Materials
GEO Specialty Chemicals, Inc., Expiration Date 3/31/2015*			9,761					7,186
Hercules Trust II, Expiration Date 3/31/2029 *			95					754

Total Warrants (Cost $20,980)						7,940

				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					8,133

				Shares				Value ($)
	Cash Equivalents 7.5%
Central Cash Management Fund, 0.06% (e) (Cost $4,970,777)			4,970,777					4,970,777

				% of Net Assets				Value ($)

Total Investment Portfolio (Cost $91,492,261) †			141.9				94,381,527
Notes Payable			(42.1)				(28,000,000)
Other Assets and Liabilities, Net			0.2				138,828

Net Assets			100.0				66,520,355

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 that are in default:

Security	Coupon			Maturity Date	Principal Amount			Cost ($)		Value ($)
ERC Ireland Preferred Equity Ltd.*		7.69	%	2/15/2017		80,289	EUR		109,298		0
Hellas Telecommunications Finance*		8.282	%	7/15/2015		109,187	EUR		32,169		0
									141,467		0

*	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 February 28, 2014.
†	The cost for federal income tax purposes was $91,753,578. At February 28, 2014, net unrealized appreciation for all securities based on tax cost was $2,627,949. This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $3,386,681 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $758,732.
(a)	Principal amount stated in U.S. dollars unless otherwise noted.
(b)	When-issued security.
(c)	Government-backed debt issued by financial companies or government sponsored enterprises.
(d)	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

4,848

0.01

(e)	Affiliated fund managed by Deutsche Investment Management Americas Inc. The rate shown is the annualized seven-day yield at period end.
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 February 28, 2014, 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 Depreciation ($)
Tallgrass Energy Partners LP, Term Delay Draw, 11/13/2017			135,000				134,662				(338	)

At February 28, 2014, 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 ($) (f)

Call Options

Receive Fixed - 4.22%

- Pay Floating - LIBOR

4/22/2016

4/22/2026

200,000

4/20/2016

7,130

(5,055

)

(f)	Unrealized appreciation on written options on interest rate swap contracts at February 28, 2014 was $2,075.
At February 28, 2014, open credit default swap contracts sold were as follows:

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

6/21/2010 9/20/2015	425,0002	5.0%	Ford Motor Co., 6.5%, 8/1/2018, BBB-	35,090	(9,714)		44,804
12/20/2011 3/20/2017	150,0003	5.0%	CIT Group, Inc., 5.5%, 2/15/2019, BB-	18,964	3,863		15,101
9/20/2012 12/20/2017	190,0004	5.0%	General Motors Corp., 3.3%, 12/20/2017, BB+	29,897	10,753		19,144
6/20/2013 9/20/2018	260,0005	5.0%	HCA, Inc., 8.0%, 10/1/2018, B-	41,517	18,940		22,577
6/20/2013 9/20/2018	260,0002	5.0%	Sprint Communications, Inc., 6.0%, 12/1/2016, BB+	32,780	14,076		18,704
6/20/2013 9/20/2018	100,0003	5.0%	DISH DBS Corp., 6.75%, 6/1/2021, BB-	16,339	8,142		8,197
Total unrealized appreciation						128,527

(g)

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.

(h)

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	Bank of America
3	Credit Suisse
4	UBS AG
5	The Goldman Sachs & Co.

As of February 28, 2014, the Fund had the following open forward foreign currency exchange contracts:

Contracts to Deliver

In Exchange For

Settlement

Date

Unrealized

Appreciation ($)

Counterparty

USD

279,393

EUR

203,300

3/21/2014

1,218

JPMorgan Chase Securities, Inc.

Contracts to Deliver

In Exchange For

Settlement

Date

Unrealized

Depreciation ($)

Counterparty

EUR

460,000

USD

632,167

3/21/2014

(2,762

)

Citigroup, Inc.

Currency Abbreviations

ARS	Argentine Peso
BRL	Brazilian Real
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 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 February 28, 2014 in valuing the Fund's investments.

Assets	Level 1		Level 2		Level 3		Total
Fixed Income Investments (i)
Corporate Bonds	$	—	$	63,660,421	$	0	$	63,660,421
Government & Agency Obligations		—		4,579,748		—		4,579,748
Loan Participations and Assignments		—		20,550,464		—		20,550,464
Convertible Bonds		—		—		204,001		204,001
Preferred Security		—		153,125		—		153,125
Common Stocks (i)		—		—		6,143		6,143
Preferred Stock		—		240,775		—		240,775
Warrants		—		—		7,940		7,940
Short-Term Investments (i)		4,970,777		—		—		4,970,777
Derivatives (j)
Purchased Options		—		8,133		—		8,133
Credit Default Swap Contracts		—		128,527		—		128,527
Forward Foreign Currency Exchange Contracts		—		1,218		—		1,218

Total	$	4,970,777	$	89,322,411	$	218,084	$	94,511,272

Liabilities	Level 1		Level 2			Level 3		Total
Unfunded Loan Commitment	$	—	$	(338	)	$	—	$	(338	)
Derivatives (j)
Written Options		—		(5,055	)		—		(5,055	)
Forward Foreign Currency Exchange Contracts		—		(2,762	)		—		(2,762	)

Total	$	—	$	(8,155	)	$	—	$	(8,155	)

There have been no transfers between fair value measurement levels during the period ended February 28, 2014.
(i)	See Investment Portfolio for additional detailed categorizations.
(j)	Derivatives include value of options purchased, unrealized appreciation (depreciation) on 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 February 28, 2014 categorized by the primary underlying risk exposure.

Primary Underlying Risk Disclosure	Swaps		Forward Currency Contracts			Options
Credit Contracts	$	128,527	$	—		$	—
Foreign Exchange Contracts	$	—	$	(1,544	)	$	—
Interest Rate Contracts	$	—	$	—		$	338

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/Brian E. Binder Brian E. Binder President

Date:	April 22, 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:	April 22, 2014



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

Date:	April 22, 2014