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  811-5970

Cash Account 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

345 Park Avenue

New York, NY  10154-0004

(Name and address of agent for service)

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

Date of fiscal year end:  04/30

Date of reporting period: 1/31/09

 

ITEM 1.  SCHEDULE OF INVESTMENTS

 

| Investment Portfolio | **as of January 31, 2009  (Unaudited)** |
|----------------------|-----------------------------------------|

 

 

**Cash Account Trust-Government & Agency Securities Portfolio**

 

 

|   | **Principal****Amount ($)**                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | **Value ($)** |
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|        |
|   | **Government & Agency Obligations 59.2%** |  
**US Government Sponsored Agencies 56.6%**

 
Federal Farm Credit Bank, 2.05%, 11/17/2009  

 

 

20,000,000 

 

20,000,000 

Federal Home Loan Bank:

 
 

0.289% **, 8/21/2009 

 

275,000,000 

 

275,018,283 

 

0.291% **, 8/10/2009 

 

20,000,000 

 

19,981,594 

 

0.41% *, 7/14/2009 

 

50,000,000 

 

49,907,181 

 

0.48% *, 6/29/2009 

 

72,000,000 

 

71,857,920 

 

0.49% **, 3/27/2009 

 

195,000,000 

 

195,000,000 

 

0.51% **, 4/3/2009 

 

165,000,000 

 

165,000,000 

 

0.52% *, 7/22/2009 

 

40,000,000 

 

39,901,200 

 

0.73% **, 5/12/2009 

 

75,000,000 

 

75,038,270 

 

 

 

 

0.94% *, 1/19/2010 

 

20,000,000 

 

19,816,178 

 

0.945% **, 10/23/2009 

 

100,000,000 

 

100,040,209 

 

0.994% **, 4/30/2009 

 

32,000,000 

 

32,000,000 

 

1.12% *, 12/8/2009 

 

92,500,000 

 

91,607,889 

 

1.179% **, 7/10/2009 

 

75,000,000 

 

75,000,000 

 

1.2% *, 12/4/2009 

 

50,000,000 

 

49,490,000 

 

1.251% **, 7/7/2009 

 

50,000,000 

 

50,016,951 

 

1.294% **, 4/30/2009 

 

288,000,000 

 

288,000,000 

 

1.468% **, 3/30/2009 

 

226,500,000 

 

226,500,000 

 

1.991% **, 5/27/2009 

 

110,000,000 

 

109,997,644 

 

2.116% **, 2/18/2009 

 

50,000,000 

 

49,989,595 

 

2.17% **, 2/11/2009 

 

250,000,000 

 

250,001,507 

 

2.189% **, 9/10/2009 

 

100,000,000 

 

100,000,000 

 

2.2%, 4/1/2009 

 

45,000,000 

 

44,993,637 

 

2.469% *, 2/24/2009 

 

107,500,000 

 

107,323,147 

 

2.5%, 3/17/2009 

 

60,000,000 

 

59,994,603 

 

2.5% *, 4/14/2009 

 

130,000,000 

 

129,350,000 

 

2.52%, 4/21/2009 

 

18,000,000 

 

18,000,000 

 

2.52%, 4/28/2009 

 

60,000,000 

 

59,986,287 

 

2.645%, 8/7/2009 

 

10,000,000 

 

10,094,679 

 

2.76%, 2/12/2009 

 

25,975,000 

 

25,975,000 

 

2.775% *, 5/12/2009 

 

125,750,000 

 

124,780,677 

 

2.812% *, 4/15/2009 

 

50,000,000 

 

49,711,042 

 

2.825% *, 9/16/2009 

 

83,000,000 

 

81,521,505 

 

2.88% *, 6/19/2009 

 

17,500,000 

 

17,306,800 

 

2.98% *, 4/30/2009 

 

55,000,000 

 

54,599,355 

 

3.0% *, 4/20/2009 

 

160,500,000 

 

159,456,750 

Federal Home Loan Mortgage Corp.:

 
 

0.14% *, 4/22/2009 

 

80,000,000 

 

79,975,111 

 

0.15% *, 4/2/2009 

 

30,000,000 

 

29,992,500 

 

0.31% *, 5/22/2009 

 

58,850,000 

 

58,794,256 

 

0.33% *, 6/3/2009 

 

100,000,000 

 

99,891,555 

 

0.325% *, 4/2/2009 

 

45,000,000 

 

44,975,250 

 

0.329% **, 9/18/2009 

 

25,065,000 

 

25,072,334 

 

0.335% **, 9/21/2009 

 

150,000,000 

 

149,946,415 

 

0.336% **, 4/7/2009 

 

100,000,000 

 

99,996,166 

 

0.34% *, 6/17/2009 

 

200,000,000 

 

199,743,111 

 

0.346% **, 10/8/2009 

 

110,000,000 

 

109,909,762 

 

0.47% *, 6/22/2009 

 

67,000,000 

 

66,876,664 

 

0.48% *, 6/22/2009 

 

40,000,000 

 

39,924,800 

 

0.5% *, 8/11/2009 

 

180,000,000 

 

179,522,500 

 

0.55% *, 8/3/2009 

 

50,000,000 

 

49,860,208 

 

0.987% *, 4/17/2009 

 

98,200,000 

 

97,995,417 

 

1.169% **, 4/27/2009 

 

205,000,000 

 

205,000,000 

 

1.18% *, 5/12/2009 

 

63,000,000 

 

62,793,500 

 

1.2% *, 5/26/2009 

 

55,716,000 

 

55,504,279 

 

1.25% *, 4/8/2009 

 

125,000,000 

 

124,713,542 

 

1.25% *, 8/10/2009 

 

100,000,000 

 

99,340,278 

 

1.3% *, 4/2/2009 

 

188,000,000 

 

187,592,667 

 

1.4% *, 7/10/2009 

 

62,000,000 

 

61,616,633 

 

1.75% *, 5/27/2009 

 

80,000,000 

 

79,552,778 

 

2.359% *, 3/19/2009 

 

100,000,000 

 

99,692,056 

 

2.5% *, 3/10/2009 

 

125,000,000 

 

124,678,819 

 

2.64% *, 3/4/2009 

 

346,400,000 

 

345,587,163 

 

2.74% *, 3/23/2009 

 

148,600,000 

 

148,034,494 

 

 

 

 

2.75% *, 3/24/2009 

 

63,000,000 

 

62,754,562 

 

4.25%, 7/15/2009 

 

27,000,000 

 

27,448,610 

 

5.25%, 5/21/2009 

 

25,000,000 

 

25,287,104 

Federal National Mortgage Association:

 
 

0.2% *, 2/18/2009 

 

100,000,000 

 

99,990,556 

 

0.35% *, 5/27/2009 

 

35,000,000 

 

34,960,868 

 

0.45% *, 5/20/2009 

 

45,000,000 

 

44,939,250 

 

0.5% *, 7/1/2009 

 

100,000,000 

 

99,791,667 

 

0.5% *, 7/20/2009 

 

125,000,000 

 

124,706,597 

 

0.55% *, 8/19/2009 

 

95,000,000 

 

94,711,174 

 

0.77% *, 3/16/2009 

 

75,000,000 

 

74,931,021 

 

0.9% *, 9/1/2009 

 

100,000,000 

 

99,470,000 

 

1.25% *, 6/11/2009 

 

130,000,000 

 

129,413,194 

 

1.4% *, 7/27/2009 

 

58,378,000 

 

57,978,435 

 

1.5% *, 5/28/2009 

 

170,000,000 

 

169,178,333 

 

1.6% *, 7/1/2009 

 

160,000,000 

 

158,933,333 

 

1.75% *, 5/29/2009 

 

108,500,000 

 

107,882,906 

 

1.9% *, 7/27/2009 

 

125,000,000 

 

123,838,889 

 

2.308% *, 3/10/2009 

 

30,000,000 

 

29,926,925 

 

2.35% *, 2/18/2009 

 

300,000,000 

 

299,667,083 

 

2.358% *, 3/11/2009 

 

72,000,000 

 

71,816,080 

 

2.408% *, 3/19/2009 

 

76,000,000 

 

75,761,107 

 

2.55% *, 2/9/2009 

 

160,000,000 

 

159,909,333 

 

2.725% *, 3/10/2009 

 

173,000,000 

 

172,515,480 

 

2.75% *, 3/16/2009 

 

100,000,000 

 

99,671,528 

 

2.75% *, 3/24/2009 

 

72,000,000 

 

71,719,500 

 

4.25%, 5/15/2009 

 

25,000,000 

 

25,200,703 

 

4.875%, 4/15/2009 

 

116,000,000 

 

117,077,130 

**US Treasury Obligations 2.6%**

 
US Treasury Bills:

 
 

0.1% *, 4/2/2009 

 

19,700,000 

 

19,696,717 

 

0.275% *, 6/25/2009 

 

20,000,000 

 

19,978,000 

 

0.29% *, 7/16/2009 

 

65,000,000 

 

64,913,604 

 

0.32% *, 7/23/2009 

 

138,000,000 

 

137,789,013 

 

0.345% *, 7/30/2009 

 

118,000,000 

 

117,797,581 

 

1.05% *, 7/30/2009 

 

50,000,000 

 

49,738,958 

**Total Government & Agency Obligations** (Cost $9,293,235,402)

 

**9,293,235,402**

 

**Repurchase Agreements 40.8%**

 
Banc of America Securities LLC, 0.28%, dated 1/30/2009, to be repurchased at $1,031,627,469 on 2/2/2009 (a) 

 

1,031,603,398

 

1,031,603,398

Barclays Capital Inc., 0.21%, dated 1/9/2009, to be repurchased at $920,182,467 on 2/12/2009 (b) 

 

920,000,000

 

920,000,000

BNP Paribas, 0.3%, dated 1/30/2009, to be repurchased at $691,444,286 on 2/2/2009 (c) 

 

691,427,000

 

691,427,000

BNP Paribas, 0.3%, dated 1/22/2009, to be repurchased at $950,253,333 on 2/23/2009 (d) 

 

950,000,000

 

950,000,000

The Goldman Sachs & Co., 0.23%, dated 1/12/2009, to be repurchased at $800,158,444 on 2/12/2009 (e) 

 

800,000,000

 

800,000,000

The Goldman Sachs & Co., 0.29%, dated 1/30/2009, to be repurchased at $2,000,048,333 on 2/2/2009 (f) 

 

2,000,000,000

 

2,000,000,000

**Total Repurchase Agreements** (Cost $6,393,030,398)

 

**6,393,030,398**

 

 

 

 

**% of****Net Assets**

 

**Value ($)**

 
 
**Total Investment Portfolio** (Cost $15,686,265,800) †

100.0

 

**15,686,265,800**

 
**Other Assets and Liabilities, Net**

0.0

 

**(3,096,582)**

 
 
**Net Assets**

100.0

 

**15,683,169,218**

 
*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.*

 
***

*Annualized yield at time of purchase; not a coupon rate.*

 
****

*Floating rate notes are securities whose yields vary with a designated market index or market rate, such as the coupon-equivalent of the US Treasury bill rate. These securities are shown at their current rate as of January 31, 2009.*

 
*†*

*The cost for federal income tax purposes was $15,686,265,800.*

 
*(a)*

*Collateralized by:*

 
**Principal**

 

 

 

**Collateral**

**Amount ($)**

**Security**

**Rate (%)**

**Maturity Date**

**Value ($)**

642,060,301

Federal Home Loan Mortgage Corp.

5.0-5.5

6/1/2033-7/1/2035

656,413,680

383,386,816

Federal National Mortgage Association

5.5

3/1/2035-1/1/2037

395,821,786

**Total Collateral Value**

 

 

 

**1,052,235,466**

 

*(b)*

*Collateralized by:*

**Principal**

 

 

 

**Collateral**

**Amount ($)**

**Security**

**Rate (%)**

**Maturity Date**

**Value ($)**

6,151,916

Federal Home Loan Mortgage Corp.- Interest Only

6.0

1/15/2049

6,238,955

330,483,069

Federal Home Loan Mortgage Corp.- Principal Only

-

2/15/2033-8/15/2038

272,007,188

87,242,131

Federal National Mortgage Association

4.5-6.0

11/25/2031-2/25/2049

84,681,472

6,572,247

Federal National Mortgage Association- Interest Only

6.0

9/25/2037

6,665,234

676,503,928

Federal National Mortgage Association- Principal Only

-

8/25/2032-12/25/2038

568,807,151

**Total Collateral Value**

 

 

 

**938,400,000**

 

*(c)*

*Collateralized by:*

**Principal**

 

 

 

**Collateral**

**Amount ($)**

**Security**

**Rate (%)**

**Maturity Date**

**Value ($)**

84,714,863

Federal Home Loan Mortgage Corp.

4.5-6.5

4/1/2020-1/1/2039

87,354,686

598,231,365

Federal National Mortgage Association

4.5-7.0

5/1/2018-10/1/2047

617,900,854

**Total Collateral Value**

 

 

 

**705,255,540**

 

*(d)*

*Collateralized by:*

**Principal**

 

 

 

**Collateral**

 
**Amount ($)**

**Security**

**Rate (%)**

**Maturity Date**

**Value ($)**

 
269,100,633

Federal Home Loan Mortgage Corp.

4.0-7.5

3/1/2010-1/1/2039

278,246,647

 
670,592,943

Federal National Mortgage Association

4.0-7.0

6/1/2010-9/1/2047

690,753,353

 
**Total Collateral Value**

 

 

 

**969,000,000**

 
 

*(e)*

*Collateralized by:*

**Principal**

 

 

 

**Collateral**

 
 

 

 

**Amount ($)**

**Security**

**Rate (%)**

**Maturity Date**

**Value ($)**

142,747,000

Federal Home Loan Mortgage Corp.

Zero Coupon

12/31/2009

141,704,947

636,862,800

US Treasury Inflation-Indexed Note

2.0

1/15/2016

674,295,643

**Total Collateral Value**

 

 

 

**816,000,590**

 

*(f)*

*Collateralized by:*

**Principal**

 

 

 

**Collateral**

 
**Amount ($)**

**Security**

**Rate (%)**

**Maturity Date**

**Value ($)**

 
304,946,834

Federal Home Loan Mortgage Corp.

4.5-6.5

5/1/2019-12/1/2038

313,671,338

 
1,669,292,648

Federal National Mortgage Association

4.0-7.0

3/1/2014-1/1/2039

1,726,328,663

 
**Total Collateral Value**

 

 

 

**2,040,000,001**

 
 

*Interest**Only: Interest Only (IO) bonds represent the “interest only” portion of payments on a pool of underlying mortgages or mortgage-backed securities.  IO securities are subject to prepayment risk of the pool of underlying mortgages.*

 

*Principal Only: Principal Only (PO) bonds represent the “principal only” portion of payments on a pool of underlying mortgages or mortgage-backed securities.*

 

***Fair Value Measurements***

 

*Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, “Fair Value Measurements," establishes a three-tier hierarchy for measuring fair value and requires additional disclosure about the classification of 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.  Securities held by a money market fund are reflected as Level 2 because the securities are valued at amortized cost (which approximates fair value) and, accordingly, the inputs used to determine value are not quoted prices in an active market.*

 

*The following is a summary of the inputs used as of January 31, 2009 in valuing the Fund's investments. Please see below for information on the Fund’s policy regarding valuation inputs, and their aggregate levels used in the table below:*

 

**Valuation Inputs**

**Investments in  Securities**

Level 1 

$                                 -   

Level 2 

15,686,265,800   

Level 3 

-   

**Total**

**$         15,686,265,800**

 

 

**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: 

Government & Agency Securities Portfolio, a series of Cash Account Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

March 23, 2009

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

Registrant: 

Government & Agency Securities Portfolio, a series of Cash Account Trust

 

By:

/s/Michael G. Clark

 

Michael G. Clark

President

 

Date:

March 23, 2009

 

 

By:

/s/Paul Schubert

 

Paul Schubert

Chief Financial Officer and Treasurer

 

Date:                                        March 23, 2009

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