UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT

COMPANIES

Investment Company Act file number: 811-21622

Thrivent Cash Management Trust

(Exact name of registrant as specified in charter)

625 Fourth Avenue South

Minneapolis, Minnesota 55415

(Address of principal executive offices) (Zip code)

Rebecca A. Paulzine, Assistant Secretary

625 Fourth Avenue South

Minneapolis, Minnesota 55415

(Name and address of agent for service)

Registrant’s telephone number, including area code: (612) 844-5168

Date of fiscal year end: October 31

Date of reporting period: April 30, 2013

Item 1. Report to Stockholders

Semiannual Report

APRIL 30, 2013

Thrivent Cash Management Trust

Table of Contents

Portfolio Perspective	1
Shareholder Expense Example	2
Schedule of Investments	3
Statement of Assets and Liabilities	7
Statement of Operations	8
Statement of Changes in Net Assets	9
Notes to Financial Statements	10
Financial Highlights	14
Additional Information	16

THRIVENT CASH MANAGEMENT TRUST

William D. Stouten, Portfolio Manager

Thrivent Cash Management Trust (the “Trust”) seeks to maximize current income to the extent consistent with the preservation of capital and liquidity and to maintain a stable $1.00 per share net asset value by (1) investing in dollar-denominated securities with a remaining maturity of 397 calendar days or less; (2) maintaining a dollar-weighted average portfolio maturity of 60 calendar days or less; or (3) maintaining a dollar-weighted average portfolio maturity of 120 calendar days or less.

Thrivent Cash Management Trust

As of April 30, 2013^*

7-Day Yield	0.09	%
7-Day Yield Gross of Waivers	0.09	%
7-Day Effective Yield	0.09	%
7-Day Effective Yield Gross of Waivers	0.09	%

Average Annual Total Returns^**

For the Period Ended April 30, 2013	1-Year			5-Year			Since  Inception, 9/16/2004
Total Return		0.12	%		0.52	%		2.09	%

* Seven-day yields of the Thrivent Cash Management Trust refer to the income generated by an investment in the Trust over a specified seven-day period. Effective yields reflect the reinvestment of income. A yield gross of waivers represents what the yield would have been if the investment adviser were not waiving or reimbursing certain expenses. Yields are subject to daily fluctuation and should not be considered an indication of future results.

** Average annual total returns represent past performance and reflect changes in share prices, the reinvestment of all dividends and capital gains, and the effects of compounding. The returns shown do not reflect taxes a shareholder would pay on distributions or redemptions.

Past performance is not an indication of future results. Current performance may be lower or higher than the performance data quoted. The prospectus contains more complete information on the investment objectives, risks, charges and expenses of the Trust. Investors should read and consider carefully before investing. To obtain a prospectus, call 1-800-THRIVENT.

An investment in the Trust is not insured or guaranteed by the FDIC or any other government agency. Although the Trust seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Trust.

1

Shareholder Expense Example

(Unaudited)

As a shareholder of the Trust, you incur ongoing costs, including management fees and other Trust expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Trust and to compare these costs with the ongoing costs of investing in other mutual funds. The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from November 1, 2012 through April 30, 2013.

Actual Expenses

In the table below, the first line provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid during Period” to estimate the expenses you paid on your account during the period.

Hypothetical Example for Comparison Purposes

In the table below, the second line provides information about hypothetical account values and hypothetical expenses based on the Trust’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Trust’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Trust and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical example that appears in the shareholder reports of the other funds.

	Beginning Account Value 11/1/2012		Ending Account  Value 4/30/2013		Expenses Paid During Period 11/1/2012 - 4/30/2013*		Annualized  Expense Ratio
Thrivent Cash Management Trust
Actual	$	1,000	$	1,001	$	0.24		0.05	%
Hypothetical**	$	1,000	$	1,025	$	0.25		0.05	%

* Expenses are equal to the Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 to reflect the one-half year period.

** Assuming 5% annualized total return before expenses.

2

Thrivent Cash Management Trust

Schedule of Investments as of April 30, 2013

(unaudited)

Principal Amount	Asset Backed Commercial Paper (4.3%)a	Value
	Barton Capital Corporation
$20,000,000	0.140%, 5/1/2013b,c	$	20,000,000
	Dealers Capital Access Trust, LLC
23,000,000	0.230%, 5/1/2013		23,000,000
17,000,000	0.250%, 5/2/2013		16,999,882
	Liberty Street Funding, LLC
75,000,000	0.120%, 5/1/2013b,c		75,000,000
	Nieuw Amsterdam Receivables
50,000,000	0.100%, 5/1/2013b,c		50,000,000
	Starbird Funding Corporation
36,002,000	0.140%, 5/1/2013b,c		36,002,000
	Total		221,001,882
Principal Amount	Financial Company Commercial Paper (2.3%)a	Value
	BNP Paribas Financial
50,000,000	0.130%, 5/1/2013		50,000,000
	Societe Generale North America, Inc.
66,655,000	0.151%, 5/1/2013		66,655,000
	Total		116,655,000
Principal Amount	Government Agency Debt (82.4%)a	Value
	Federal Agricultural Mortgage Corporation
6,000,000	0.140%, 5/14/2013		5,999,697
6,800,000	0.130%, 5/22/2013		6,799,484
9,000,000	0.100%, 6/14/2013		8,998,900
50,000,000	0.076%, 7/25/2013d		49,988,557
55,680,000	0.098%, 8/5/2013d		55,663,981
25,000,000	0.150%, 8/30/2013		24,987,396
30,000,000	0.111%, 9/10/2013d		29,995,098
5,900,000	0.110%, 10/31/2013		5,896,701
20,000,000	0.174%, 11/1/2013d		19,999,558
	Federal Farm Credit Bank
5,550,000	0.209%, 6/12/2013d		5,550,432
30,500,000	0.229%, 7/22/2013d		30,504,550
10,000,000	0.220%, 7/23/2013		10,002,165
1,240,000	0.199%, 8/19/2013d		1,240,155
4,580,000	0.219%, 8/22/2013d		4,581,158
8,070,000	0.171%, 8/27/2013d		8,070,000
2,000,000	0.380%, 9/16/2013d		2,001,903
5,000,000	0.178%, 10/28/2013d		5,001,014
10,978,000	0.250%, 12/6/2013d		10,984,366
10,000,000	0.169%, 1/13/2014d		10,000,753
25,000,000	0.097%, 2/10/2014d		24,990,351
6,000,000	0.219%, 2/24/2014d		6,003,765
9,500,000	0.138%, 3/26/2014d		9,499,168
15,000,000	0.169%, 8/12/2014d		14,997,117
10,000,000	0.170%, 10/9/2014d		9,996,413
15,000,000	0.178%, 11/26/2014d		15,002,457
	Federal Home Loan Bank
15,000,000	0.220%, 5/3/2013		15,000,069
13,800,000	0.125%, 5/10/2013		13,799,569
10,000,000	0.350%, 5/14/2013		10,000,603
17,360,000	0.135%, 5/15/2013		17,359,091
10,000,000	0.150%, 5/15/2013d		9,999,953
13,000,000	0.300%, 5/16/2013		13,000,716
30,000,000	0.125%, 5/17/2013		29,998,333
15,000,000	0.125%, 5/21/2013		14,998,958
40,000,000	0.160%, 5/22/2013		39,996,267
40,000,000	0.159%, 5/23/2013d		40,000,000
50,000,000	0.118%, 5/24/2013		49,996,224

Principal Amount	Government Agency Debt (82.4%)a	Value
$25,000,000	0.100%, 5/28/2013	$	24,998,125
30,000,000	0.148%, 5/28/2013d		30,000,073
30,000,000	0.145%, 5/29/2013		29,996,617
15,000,000	0.240%, 5/29/2013		15,000,797
30,000,000	0.135%, 5/31/2013		29,996,625
13,200,000	0.115%, 6/7/2013		13,198,438
8,455,000	0.350%, 6/7/2013		8,456,701
25,000,000	0.100%, 6/12/2013		24,997,083
12,000,000	0.170%, 6/13/2013d		12,000,656
33,320,000	0.137%, 6/14/2013		33,470,183
5,650,000	0.160%, 6/14/2013		5,660,052
26,265,000	0.172%, 6/14/2013		26,430,753
3,000,000	0.095%, 6/21/2013		2,999,596
10,000,000	0.111%, 6/21/2013		10,024,660
20,000,000	0.400%, 6/21/2013		20,007,285
10,000,000	0.400%, 6/21/2013		10,004,036
7,250,000	0.400%, 6/21/2013		7,252,522
25,000,000	0.420%, 6/21/2013		25,010,930
5,000,000	0.350%, 6/28/2013		5,001,581
9,400,000	0.135%, 7/3/2013		9,397,779
25,000,000	0.180%, 7/17/2013d		25,004,270
4,800,000	0.115%, 7/24/2013		4,798,712
6,600,000	0.110%, 7/26/2013		6,598,266
20,000,000	0.110%, 8/1/2013		19,999,458
5,000,000	0.170%, 8/1/2013d		5,000,254
10,000,000	0.290%, 8/1/2013d		10,005,323
25,000,000	0.160%, 8/8/2013d		25,001,692
10,000,000	0.148%, 8/14/2013		10,142,396
20,000,000	0.180%, 8/22/2013d		20,001,878
50,000,000	0.180%, 8/22/2013d		50,007,081
13,949,000	0.130%, 8/28/2013		13,943,006
15,000,000	0.158%, 8/28/2013d		14,999,739
24,000,000	0.500%, 8/28/2013		24,029,775
2,500,000	0.180%, 9/4/2013d		2,500,434
9,500,000	0.137%, 9/6/2013		9,495,372
40,000,000	0.160%, 9/6/2013d		39,999,688
10,000,000	0.180%, 9/6/2013d		10,000,352
10,000,000	0.150%, 9/11/2013		10,001,350
625,000	0.370%, 9/16/2013d		625,572
15,000,000	0.090%, 9/18/2013		14,994,750
10,716,000	0.108%, 9/20/2013		10,711,423
4,250,000	0.130%, 9/20/2013		4,250,124
10,005,000	0.170%, 9/20/2013		10,006,798
25,000,000	0.130%, 9/26/2013		24,998,934
15,000,000	0.180%, 10/1/2013d		15,001,902
62,400,000	0.101%, 10/16/2013		62,370,572
5,000,000	0.210%, 10/17/2013		5,001,915
38,900,000	0.100%, 10/18/2013		38,881,631
50,000,000	0.110%, 10/25/2013		49,999,557
30,000,000	0.160%, 10/25/2013d		30,001,505
25,000,000	0.100%, 10/30/2013		24,998,508
150,000,000	0.163%, 11/13/2013d		150,039,593
20,000,000	0.220%, 11/15/2013d		20,003,303
4,000,000	0.230%, 11/25/2013d		4,001,834
5,000,000	0.240%, 11/25/2013d		5,002,580
6,575,000	0.117%, 11/27/2013		6,753,890
25,000,000	0.210%, 12/6/2013d		25,014,424
18,500,000	0.061%, 12/11/2013d		18,493,360
15,000,000	0.320%, 12/11/2013		15,015,838
2,000,000	0.170%, 12/19/2013		1,999,965
37,000,000	0.096%, 1/27/2014d		36,977,439
5,000,000	0.200%, 2/3/2014d		4,998,084
50,000,000	0.156%, 2/5/2014d		50,000,000
25,000,000	0.129%, 2/12/2014d		24,998,056
48,500,000	0.110%, 2/14/2014d		48,480,521

The accompanying Notes to the Financial Statements are an integral part of this schedule.

3

Thrivent Cash Management Trust

Schedule of Investments as of April 30, 2013

(unaudited)

Principal Amount		Government Agency Debt (82.4%)a	Value
	$8,320,000	0.220%, 2/24/2014d	$	8,320,000
	6,000,000	0.168%, 2/27/2014d		5,999,503
	17,000,000	0.290%, 2/28/2014d		17,016,947
	25,000,000	0.170%, 3/6/2014d		24,997,968
	25,000,000	0.140%, 4/25/2014d		25,000,000
	40,000,000	0.138%, 5/6/2014d,e		39,997,920
	33,470,000	0.290%, 6/4/2014d		33,495,943
	30,000,000	0.170%, 6/17/2014d		29,999,183
		Federal Home Loan Mortgage Corporation
	53,500,000	0.150%, 5/6/2013d		53,500,022
	9,295,000	0.125%, 5/13/2013		9,294,613
	15,520,000	0.153%, 5/20/2013		15,518,745
	27,000,000	0.138%, 5/21/2013		26,997,932
	16,828,000	0.160%, 5/28/2013		16,825,981
	4,500,000	0.110%, 5/29/2013		4,511,971
	19,935,000	0.130%, 6/3/2013		19,932,624
	60,400,000	0.154%, 6/3/2013d		60,400,266
	10,000,000	0.095%, 6/11/2013		9,998,918
	23,000,000	0.135%, 6/17/2013		22,995,946
	14,260,000	0.150%, 6/17/2013d		14,260,354
	6,705,000	0.170%, 6/21/2013		6,703,385
	8,900,000	0.140%, 7/1/2013		8,897,889
	20,000,000	0.100%, 7/2/2013		19,996,556
	25,000,000	0.100%, 7/9/2013		24,995,208
	25,000,000	0.100%, 7/10/2013		24,995,139
	14,000,000	0.130%, 8/2/2013		13,995,298
	7,000,000	0.140%, 8/5/2013		6,997,387
	5,000,000	0.135%, 8/20/2013		4,997,919
	4,250,000	0.350%, 9/12/2013d		4,251,577
	81,745,000	0.139%, 9/13/2013d		81,744,711
	20,000,000	0.129%, 9/23/2013		19,989,608
	32,530,000	0.117%, 9/27/2013		33,059,324
	13,150,000	0.173%, 11/4/2013d		13,151,003
	10,120,000	0.375%, 11/27/2013		10,132,206
		Federal National Mortgage Association
	10,200,000	0.152%, 5/1/2013		10,200,000
	4,509,000	0.141%, 5/7/2013		4,510,200
	25,000,000	0.100%, 5/8/2013		24,999,514
	29,696,000	0.125%, 5/15/2013		29,694,556
	13,135,000	0.158%, 5/22/2013		13,133,789
	28,500,000	0.135%, 5/29/2013		28,497,007
	12,500,000	0.135%, 6/10/2013		12,498,125
	8,027,000	0.135%, 6/17/2013		8,025,585
	25,000,000	0.142%, 6/26/2013		24,994,474
	40,000,000	0.182%, 6/26/2013		40,083,333
	15,000,000	0.110%, 7/2/2013		14,997,158
	7,063,000	0.140%, 8/7/2013		7,060,308
	5,000,000	0.500%, 8/9/2013		5,004,113
	3,000,000	0.140%, 8/14/2013		2,998,775
	5,550,000	0.130%, 9/3/2013		5,547,495
	7,714,000	0.137%, 9/11/2013		7,710,096
	1,299,000	1.125%, 9/17/2013		1,303,969
	25,000,000	0.117%, 9/23/2013		25,087,243
	19,038,000	0.128%, 9/25/2013		19,028,077
	4,000,000	0.125%, 10/1/2013		3,997,875
	20,000,000	0.123%, 10/16/2013		19,988,567
	5,000,000	0.170%, 11/8/2013d		5,000,809
	86,900,000	0.169%, 11/14/2013d		86,919,970
	17,515,000	0.750%, 12/18/2013		17,582,750
	16,100,000	0.261%, 3/4/2014d		16,114,890
	25,000,000	0.179%, 6/20/2014d		25,007,232

Principal Amount		Government Agency Debt (82.4%)a	Value
	$5,000,000	0.400%, 8/25/2014d	$	5,009,341
		Federal National Mortgage Association Interest Strip
	25,946,000	0.130%, 5/15/2013		25,944,686
		Overseas Private Investment Corporation
	24,000,000	0.150%, 5/3/2013d		24,000,000
	7,641,600	0.150%, 5/7/2013d		7,641,600
	9,552,000	0.150%, 5/7/2013d		9,552,000
	10,000,000	0.150%, 5/7/2013d		10,000,000
	10,000,000	0.150%, 5/7/2013d		10,000,000
	58,305,000	0.150%, 5/7/2013d		58,305,000
	78,735,000	0.150%, 5/7/2013d		78,735,000
	7,164,000	0.150%, 5/7/2013d		7,164,000
	104,585,000	0.160%, 5/7/2013d		104,585,000
	12,000,000	0.160%, 5/7/2013d		12,000,000
	4,000,000	0.160%, 5/7/2013d		4,000,000
	59,166,667	0.160%, 5/7/2013d		59,166,667
	15,000,000	0.150%, 5/8/2013d		15,000,000
	22,200,000	0.150%, 5/8/2013d		22,200,000
	2,262,083	0.160%, 5/8/2013d		2,262,083
	2,758,618	0.160%, 5/8/2013d		2,758,618
	7,719,298	0.160%, 5/8/2013d		7,719,298
	38,376,000	0.160%, 5/8/2013d		38,376,000
	2,000,000	0.400%, 5/2/2014e		2,000,000
		Straight-A Funding, LLC
	25,000,000	0.140%, 5/1/2013b,c		25,000,000
	15,000,000	0.140%, 5/2/2013b,c		14,999,942
	10,000,000	0.140%, 5/2/2013b,c		9,999,961
	20,000,000	0.140%, 5/2/2013b,c		19,999,922
	20,002,000	0.140%, 5/3/2013b,c		20,001,844
	30,000,000	0.140%, 5/3/2013b,c		29,999,767
	18,699,000	0.180%, 6/3/2013b,c		18,695,915
	15,008,000	0.180%, 6/4/2013b,c		15,005,449
	30,026,000	0.150%, 6/5/2013b,c		30,021,621
	23,735,000	0.180%, 6/6/2013b,c		23,730,728
	28,287,000	0.160%, 6/10/2013b,c		28,281,971
	30,000,000	0.160%, 6/12/2013b,c		29,994,400
	18,726,000	0.180%, 6/14/2013b,c		18,721,880
	65,681,000	0.170%, 6/18/2013b,c		65,666,112
	24,479,000	0.170%, 6/18/2013b,c		24,473,451
	21,794,000	0.170%, 6/18/2013b,c		21,789,060
	26,195,000	0.170%, 6/18/2013b,c		26,189,063
	30,000,000	0.170%, 6/19/2013b,c		29,993,058
	25,061,000	0.170%, 6/19/2013b,c		25,055,201
		Total		4,136,957,132
Principal Amount		Government Agency Repurchase Agreement (1.0%)a	Value
		Bank of Nova Scotia
	50,000,000	0.100%, 5/7/2013f		50,000,000
		Total		50,000,000
Shares		Investment Company (4.8%)	Value
		AIM Investments Institutional Government and Agency Portfolio
	130,000	0.020%		130,000
		BlackRock Cash Funds
	26,222,000	0.130%		26,222,000

The accompanying Notes to Financial Statements are an integral part of this schedule.

4

Thrivent Cash Management Trust

Schedule of Investments as of April 30, 2013

(unaudited)

Shares		Investment Company (4.8%)	Value
		Dreyfus Institutional Cash Advantage Fund
	$73,345,000	0.070%	$	73,345,000
		DWS Money Market Series
	65,666,000	0.000%		65,666,000
		Morgan Stanley Institutional Liquidity Funds
	74,321,000	0.090%		74,321,000
		Total		239,684,000
Principal Amount		Other Commercial Paper (2.2%)a	Value
		Caisse Amortissement de la Dette Sociale
	30,000,000	0.100%, 5/2/2013c		29,999,917
		Total Capital SA
	50,000,000	0.110%, 5/1/2013		50,000,000
	30,000,000	0.090%, 5/2/2013c		29,999,925
		Total		109,999,842
Principal Amount		Other Instrument (1.7%)a	Value
		BNP Paribas (Time Deposit)
	84,665,000	0.120%, 5/1/2013		84,665,000
		Total		84,665,000
Principal Amount		Treasury Debt (1.0%)a	Value
		U.S. Treasury Bills
	30,000,000	0.115%, 5/23/2013		29,997,892
	10,000,000	0.091%, 5/31/2013		10,028,087
	10,000,000	0.375%, 7/31/2013		10,006,224
		Total		50,032,203
Principal Amount		Variable Rate Demand Note (1.1%)a	Value
		Andover, Minnesota Senior Housing Revenue Bonds
	9,395,000	0.210%, 5/7/2013d		9,395,000
		Capital Trust Agency Multifamily Housing Revenue Bonds
	11,000,000	0.210%, 5/7/2013d		11,000,000
		Illinois Finance Authority Multifamily Housing Revenue Bonds (Villagebrook Apartments)
	5,180,000	0.240%, 5/7/2013d		5,180,000
		Lancaster County, Nebraska Hospital Authority No. 1 Hospital Revenue Refunding Bonds (BryanLGH Medical Center)
	8,560,000	0.190%, 5/1/2013d		8,560,000
	2,090,000	0.210%, 5/7/2013d		2,090,000
		St. Cloud, Minnesota Health Care Refunding Revenue Bonds (CentraCare Health System)
	5,935,000	0.210%, 5/7/2013d		5,935,000

Principal Amount		Variable Rate Demand Note (1.1%)a	Value
		Tarrant County Cultural Education Facilities Finance Corporation Revenue Bonds (Methodist Hospitals of Dallas)
	$14,360,000	0.210%, 5/1/2013d	$	14,360,000
		Total		56,520,000
		Total Investments (at amortized cost) 100.8%	$	5,065,515,059
		Other Assets and Liabilities, Net (0.8)%		(39,690,982	)
		Total Net Assets 100.0%	$	5,025,824,077

a The interest rate shown reflects the yield, coupon rate or the discount rate at the date of purchase.

b Denotes investments that benefit from credit enhancement or liquidity support provided by a third party bank, institution or government.

c Denotes securities sold under Rule 144A of the Securities Act of 1933, which exempts them from registration. These securities have been deemed liquid and may be resold to other dealers in the program or to other qualified institutional buyers. As of April 30, 2013, the value of these investments was $718,621,187, or 14.3% of total net assets.

d Denotes variable rate securities. Variable rate securities are securities whose yields vary with a designated market index or market rate. The rate shown is as of April 30, 2013.

e Denotes investments purchased on a when-issued or delayed delivery basis.

f Repurchase agreement dated April 30, 2013, $50,000,972 maturing May 7, 2013, collateralized by $51,000,001 Federal Home Loan Mortgage Corporation, 3.500% due August 1, 2042.

Cost for federal income tax purposes        $ 5,065,515,059

The accompanying Notes to Financial Statements are an integral part of this schedule.

5

Thrivent Cash Management Trust

Schedule of Investments as of April 30, 2013

(unaudited)

Fair Valuation Measurements

The following table is a summary of the inputs used, as of April 30, 2013, in valuing Thrivent Cash Management Trust’s assets carried at fair value or amortized cost, which approximates fair value.

Investments in Securities	Total		Level 1		Level 2		Level 3
Asset Backed Commercial Paper		221,001,882		–		221,001,882		–
Financial Company Commercial Paper		116,655,000		–		116,655,000		–
Government Agency Debt		4,136,957,132		–		4,136,957,132		–
Government Agency Repurchase Agreement		50,000,000		50,000,000		–		–
Investment Company		239,684,000		239,684,000		–		–
Other Commercial Paper		109,999,842		–		109,999,842		–
Other Instrument		84,665,000		–		84,665,000		–
Treasury Debt		50,032,203		–		50,032,203		–
Variable Rate Demand Note		56,520,000		–		56,520,000		–
Total	$	5,065,515,059	$	289,684,000	$	4,775,831,059	$	–

There were no significant transfers between Levels during the period ended April 30, 2013. Transfers between Levels are identified as of the end of the period.

The accompanying Notes to Financial Statements are an integral part of this schedule.

6

Thrivent Cash Management Trust

Statement of Assets and Liabilities

As of April 30, 2013 (unaudited)	Cash Management Trust
Assets
Investments at cost	$	5,065,515,059
Investments in securities at value		5,065,515,059
Investments at Value		5,065,515,059	1
Cash		7,108
Dividends and interest receivable		2,880,027
Prepaid expenses		27,224
Total Assets		5,068,429,418
Liabilities
Distributions payable		374,029
Accrued expenses		37,131
Payable for investments purchased		41,997,920
Payable to affiliate		196,261
Total Liabilities		42,605,341
Net Assets
Capital stock (beneficial interest)		5,025,818,462
Accumulated undistributed net investment income/(loss)		2,677
Accumulated undistributed net realized gain/(loss)		2,938
Total Net Assets	$	5,025,824,077
Shares of beneficial interest outstanding		5,025,818,462
Net asset value per share	$	1.00

1 Securities held by the Trust are valued on the basis of amortized cost, which approximates market value.

The accompanying Notes to the Financial Statements are an integral part of this schedule.

7

Thrivent Cash Management Trust

Statement of Operations

For the six months ended April 30, 2013 (unaudited)	Cash Management Trust
Investment Income
Dividends	$	109,317
Interest		3,040,777
Total Investment Income		3,150,094
Expenses
Adviser fees		928,953
Administrative service fees		45,000
Audit and legal fees		13,452
Custody fees		65,011
Insurance expenses		5,236
Printing and postage expenses		3,270
Transfer agent fees		20,814
Trustees’ fees		2,530
Other expenses		9,981
Total Expenses Before Reimbursement		1,094,247
Less:
Reimbursement from adviser		(61,016	)
Custody earnings credit		(733	)
Total Net Expenses		1,032,498
Net Investment Income/(Loss)		2,117,596
Realized and Unrealized Gains/(Losses)
Net realized gains/(losses) on:
Investments		2,941
Net Realized and Unrealized Gains/(Losses)		2,941
Net Increase/(Decrease) in Net Assets Resulting From Operations	$	2,120,537

The accompanying Notes to the Financial Statements are an integral part of this schedule.

8

Thrivent Cash Management Trust

Statement of Changes in Net Assets

	Cash Management Trust
For the periods ended	4/30/2013 (unaudited)			10/31/2012
Operations
Net investment income/(loss)	$	2,117,596		$	746,911
Net realized gains/(losses)		2,941			12,127
Net Change in Net Assets Resulting From Operations		2,120,537			759,038
Distributions to Shareholders
From net investment income		(2,114,919	)		(746,911	)
From net realized gains		(12,130	)		(10,103	)
Total Distributions to Shareholders		(2,127,049	)		(757,014	)
Capital Stock Transactions
Sold		9,507,378,574			7,580,627,600
Redeemed		(7,035,376,403	)		(5,636,704,553	)
Total Capital Stock Transactions		2,472,002,171			1,943,923,047
Net Increase/(Decrease) in Net Assets		2,471,995,659			1,943,925,071
Net Assets, Beginning of Period		2,553,828,418			609,903,347
Net Assets, End of Period	$	5,025,824,077		$	2,553,828,418
Accumulated Undistributed Net Investment Income/(Loss)	$	2,677		$	–
Capital Stock Share Transactions
Sold		9,507,378,574			7,580,627,600
Redeemed		(7,035,376,403	)		(5,636,704,553	)
Total Capital Stock Share Transactions		2,472,002,171			1,943,923,047

The accompanying Notes to the Financial Statements are an integral part of this schedule.

9

Thrivent Cash Management Trust

Notes to Financial Statements

April 30, 2013

(unaudited)

(1) ORGANIZATION

Thrivent Cash Management Trust (the “Trust”) was organized as a Massachusetts Business Trust on August 4, 2004 and is registered as an open-end management investment company under the Investment Company Act of 1940. The Trust commenced operations on September 16, 2004. All investments in the Trust are by affiliates of the Trust. The Trust serves as an investment vehicle for cash collateral posted in exchange for loaned securities of mutual funds sponsored by Thrivent Financial for Lutherans, the Trust’s investment adviser (“Thrivent Financial” or the “Adviser”), and its affiliates. Deutsche Bank AG serves as the lending agent to this securities lending program. The Trust also includes assets that are not part of the securities lending program. Series of Thrivent Mutual Funds and Thrivent Series Fund, Inc. may sweep their cash balances into the Trust.

Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts with vendors and others that provide general damage clauses. The Trust’s maximum exposure under these contracts is unknown, as this would involve future claims that may be made against the Trust. However, based on experience, the Trust expects the risk of loss to be remote.

(2) SIGNIFICANT ACCOUNTING POLICIES

(A) Valuation of Investments – Securities are valued on the basis of amortized cost (which approximates market value), whereby a portfolio security is valued at its cost initially, and thereafter valued to reflect a constant amortization to maturity of any discount or premium. Investments in open-ended mutual funds are valued at their net asset value at the close of each business day. The Adviser follows procedures designed to help maintain a constant net asset value of $1.00 per share.

Financial Accounting Standards Board (FASB) guidelines require increased fair value disclosure intended to improve the consistency and comparability of fair value measurements used in financial reporting. The guidelines define fair value, establish a framework for measuring fair value in U.S. Generally Accepted Accounting Principles (“GAAP”) and expand disclosures about fair value requirements. Various inputs are summarized in three broad levels: Level 1 includes quoted prices in active markets for identical securities, typically categorized in this level are U.S. equity securities, futures and options; Level 2 includes other significant observable inputs such as quoted prices for similar securities, interest rates, prepayment speeds and credit risk, typically categorized in this level are fixed income securities, international securities, swaps and forward contracts; and Level 3 includes significant unobservable inputs such as the Fund’s own assumptions and broker evaluations in determining the fair value of investments.

(B) Federal Income Taxes – The Trust intends to comply with the requirements of the Internal Revenue Code which are applicable to regulated investment companies and to distribute substantially all of its taxable income to its shareholders. The Trust, accordingly, anticipates paying no Federal income taxes and no Federal income tax provision was recorded.

GAAP requires management of the Trust to make additional tax disclosures with respect to the tax effects of certain income tax positions, whether those positions were taken on previously filed tax returns or are expected to be taken on future returns. These positions must meet a “more likely than not” standard that, based on the technical merits of the position, would have a greater than 50 percent likelihood of being sustained upon examination. In evaluating whether a tax position has met the more-likely-than-not recognition threshold, management of the Trust must presume that the position will be examined by the appropriate taxing authority that has full knowledge of all relevant information.

Management of the Trust analyzed all open tax years, as defined by the statute of limitations, for all major jurisdictions. Open tax years are those that are open for examination by taxing authorities. Major jurisdictions for the Trust include U.S. Federal, Minnesota, Wisconsin, and Massachusetts as well as certain foreign countries. As of April 30, 2013, open U.S. Federal, Minnesota, Wisconsin and Massachusetts tax years include the tax years ended October 31, 2009 through 2012. Additionally, as of April 30, 2013, the tax year ended October 31, 2008 is open for Wisconsin. The Trust has no examinations in progress and none are expected at this time.

As of April 30, 2013, management of the Trust has reviewed all open tax years and major jurisdictions and concluded that there is no effect to the Trust’s tax liability, financial position or results of operations. There is no tax liability resulting from unrecognized tax benefits related to uncertain income tax positions taken or expected to be taken in future tax returns. The Trust is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next 12 months.

(C) Custody Earnings Credit – The Trust has a deposit arrangement with the custodian whereby interest earned on uninvested cash balances is used to pay a portion of custodian fees. This deposit arrangement is an alternative to overnight investments.

(D) Distributions to Shareholders – Net investment income is distributed to each shareholder as a dividend. Dividends from the Trust are declared daily and distributed monthly. Net realized gains from securities transactions, if any, are distributed at least annually after the close of the fiscal year.

10

Thrivent Cash Management Trust

Notes to Financial Statements

April 30, 2013

(unaudited)

(E) Repurchase Agreements – The Trust may engage in repurchase agreement transactions in pursuit of its investment objective. A repurchase agreement consists of a purchase and a simultaneous agreement to resell an investment for later delivery at an agreed upon price and rate of interest. The Trust uses a third-party custodian to maintain the collateral. If the original seller of a security subject to a repurchase agreement fails to repurchase the security at the agreed upon time, the Trust could incur a loss due to a drop in the value of the security during the time it takes the Trust to either sell the security or take action to enforce the original seller’s agreement to repurchase the security. Also, if a defaulting original seller filed for bankruptcy or became insolvent, disposition of such security might be delayed by pending legal action. The Trust may only enter into repurchase agreements with banks and other recognized financial institutions such as broker/dealers that are found by the Adviser to be creditworthy. During the six months ended April 30, 2013, the Trust engaged in this type of investment.

(F) Accounting Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from these estimates.

(G) Recent Accounting Pronouncements – In December 2011, FASB released Accounting Standards Update 2011-11 (ASU 2011-11), Balance Sheet (Topic 210), Disclosures about Offsetting Assets and Liabilities. This updated standard is a result of collaboration between FASB and International Accounting Standards Board (IASB) to enhance current disclosures. The amendments include new disclosure requirements of gross and net information about instruments and transactions eligible for offset in the Statement of Assets and Liabilities or subject to a master netting agreement or similar agreement. In January 2013, additional guidance was issued to clarify which investment and instruments are subject to the offsetting disclosure requirements. The scope of the disclosure requirements will be limited to derivative instruments, repurchase agreements, and securities borrowing and securities lending transactions. The disclosures required became effective any reporting period (annual or interim) beginning on or after January 1, 2013. Management is currently evaluating the application of ASU 2011-11 on the Fund’s financial statements.

(H) Other – For financial statement purposes, investment security transactions are accounted for on the trade date. Interest income is recognized on an accrual basis. Discount and premium are amortized over the life of the respective securities on the interest method. Realized gains or losses on sales are determined on a specific cost identification basis. Dividend income is recorded on the ex-dividend date.

(3) FEES AND COMPENSATION PAID TO AFFILIATES

(A) Investment Advisory Fees – The Trust pays Thrivent Financial a fee for its advisory services. The annual rate of fees under the Investment Advisory Agreement is calculated at 0.045% of the average daily net assets of the Trust.

The Adviser has agreed to voluntarily reimburse the Trust for all expenses in excess of 0.05% of average daily net assets. This voluntary expense reimbursement may be discontinued by the Adviser at any time.

(B) Other Fees – The Trust has entered into an administration and accounting services agreement with Thrivent Financial pursuant to which Thrivent Financial provides certain administrative and accounting personnel and services. For the six months ended April 30, 2013, Thrivent Financial received aggregate fees for administrative and accounting personnel and services of $45,000 from the Trust.

Each Trustee who is not affiliated with the Adviser receives an annual fee from the Trust for services as a Trustee and is eligible to participate in a deferred compensation plan with respect to these fees. Each participant’s deferred compensation account will increase or decrease as if it were invested in shares of a particular series of Thrivent Mutual Funds.

Those Trustees not participating in the above plan received $2,527 in fees from the Trust for the six months ended April 30, 2013. In addition, the Trust reimbursed unaffiliated Trustees for reasonable expenses incurred in relation to attendance at the meetings and industry conferences.

Certain officers and non-independent Trustees of the Trust are employed at Thrivent Financial for Lutherans and receive no compensation from the Trust.

(C) Indirect Expenses – The Trust may invest in other mutual funds. Fees and expenses of those underlying funds are not included in the Trust’s expense ratio. The Trust indirectly bears its proportionate share of the annualized weighted average expense ratio for the underlying funds in which it invests.

(4) TAX INFORMATION

Distributions are based on amounts calculated in accordance with the applicable federal income tax regulations, which may differ from GAAP. To the extent that these differences are permanent in nature, GAAP requires such amounts are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences do not require reclassifications. At fiscal year-end, the character and amount of distributions, on a tax basis and components of distributable earnings, are finalized. Therefore, as of April 30, 2013, the tax-basis balance has not yet been determined.

11

Thrivent Cash Management Trust

Notes to Financial Statements

April 30, 2013

(unaudited)

Capital losses generated during the fiscal year ending October 31, 2013, will be subject to the provisions of the Regulated Investment Company Modernization Act of 2010. If the losses are not reduced by gains during the next fiscal year, the losses will be carried forward with no expiration and with the short-term or long-term character of the loss retained.

(5) SUBSEQUENT EVENTS

Management of the Trust has evaluated the impact of subsequent events, and, except as already included in the Notes to Financial Statements, has determined that no additional items require disclosure.

Management notes that on November 27, 2012, the Trustees approved changing the name of the Trust from Thrivent Financial Securities Lending Trust to Thrivent Cash Management Trust.

12

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13

Thrivent Cash Management Trust

Financial Highlights

FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD*

Income from Investment Operations

Less Distributions From

Net  Asset Value, Beginning  of Period

Net Investment Income /(Loss)

Net Realized and  Unrealized Gain/(Loss) on Investments(a)

Total from Investment Operations

Net Investment Income

Net Realized Gain on Investments

CASH MANAGEMENT TRUST

Period Ended 4/30/2013 (unaudited)

$

1.00

$

–

$

–

$

–

$

–

$

–

Year Ended 10/31/2012

1.00

–

–

–

–

–

Year Ended 10/31/2011

1.00

–

–

–

–

–

Year Ended 10/31/2010

1.00

–

–

–

–

–

Year Ended 10/31/2009

1.00

0.01

–

0.01

(0.01

)

–

Year Ended 10/31/2008

1.00

0.03

–

0.03

(0.03

)

–

(a) The amount shown may not correlate with the change in aggregate gains and losses of portfolio securities due to the timing of sales and redemptions of fund shares.

* All per share amounts have been rounded to the nearest cent.

The accompanying Notes to the Financial Statements are an integral part of this schedule.

14

Thrivent Cash Management Trust

Financial Highlights—continued

RATIOS / SUPPLEMENTAL DATA

								Ratio to Average Net Assets**						Ratios to Average Net Assets Before Expenses  Waived, Credited or Paid Indirectly**
Total Distributions	Net Asset Value, End of Period		Total Return(b)			Net Assets, End of Period (in millions)		Expenses			Net Investment Income/(Loss)			Expenses			Net Investment Income/(Loss)			Portfolio Turnover Rate
$            –	$	1.00		0.05	%	$	5,025.8		0.05	%		0.10	%		0.05	%		0.10	%		N/A
–		1.00		0.13	%		2,553.8		0.05	%		0.12	%		0.08	%		0.09	%		N/A
–		1.00		0.15	%		609.9		0.05	%		0.15	%		0.08	%		0.12	%		N/A
–		1.00		0.22	%		779.4		0.05	%		0.21	%		0.08	%		0.19	%		N/A
(0.01)		1.00		0.76	%		746.7		0.05	%		0.92	%		0.06	%		0.91	%		N/A
(0.03)		1.00		3.38	%		2,461.9		0.05	%		3.36	%		0.05	%		3.36	%		N/A

(b) Total investment return assumes dividend reinvestment and does not reflect any deduction for applicable sales charges. Not annualized for periods less than one year.

** Computed on an annualized basis for periods less than one year.

The accompanying Notes to the Financial Statements are an integral part of this schedule.

15

Additional Information

(unaudited)

PROXY VOTING

The policies and procedures that the Trust uses to determine how to vote proxies relating to portfolio securities are attached to the Trust’s Statement of Additional Information. You may request a free copy of the Statement of Additional Information or the report of how the Trust voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 by calling 1-800-847-4836. You also may review the Statement of Additional Information or the report of how the Trust voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 at www.sec.gov.

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

The Trust files its Schedule of Portfolio Holdings on Form N-Q with the SEC for the first and third quarters of each fiscal year. You may request a free copy of the Trust’s Forms N-Q by calling 1-800-847-4836. The Trust’s Forms N-Q also are available at www.sec.gov. You also may review and copy the Forms N-Q for the Trust at the SEC’s Public Reference Room in Washington, DC. You may get information about the operation of the Public Reference Room by calling 1-800-SEC-0330.

BOARD APPROVAL OF INVESTMENT ADVISORY AGREEMENT

Both the Investment Company Act of 1940 (the “Investment Company Act”) and the terms of the investment advisory agreement of the Thrivent Cash Management Trust (the “Trust”) require that the agreement be approved annually by the Board of Trustees (the “Board”), including a majority of the Trustees who are not “interested persons” of the Trust, as defined in the Investment Company Act (the “Independent Trustees”). The nine-member Board consists of eight Independent Trustees, including the Chairman.

At its meeting on November 28, 2012, the Board voted unanimously to renew the existing investment advisory agreement, as amended, to reflect the name change from Thrivent Financial Securities Lending Trust to Thrivent Cash Management Trust, between the Trust and Thrivent Asset Management (the “Adviser”). In connection with its evaluation of the agreement with the Adviser, the Board reviewed a broad range of information requested for this purpose and considered a variety of factors, including the following:

1. The nature, extent, and quality of the services provided by the Adviser;

2. The performance of the Trust;

3. The advisory fee and net operating expense ratio of the Trust compared to a peer group;

4. The cost of services provided and profit realized by the Adviser;

5. The extent to which economies of scale may be realized as the Trust grows;

6. Whether the fee levels reflect these economies of scale for the benefit of the Trust shareholders;

7. Other benefits realized by the Adviser or its affiliates from their relationship with the Trust; and

8. Any other factors that the Board deemed relevant to its consideration.

In connection with the renewal process, the Contracts Committee of the Board (consisting of each of the Independent Trustees) met on six occasions from February 21 to November 28, 2012 to consider information relevant to the renewal process. The Independent Trustees also retained the services of Management Practice, Inc. (“MPI”) as an independent consultant to assist in the compilation, organization, and evaluation of relevant information. This information included statistical comparisons of the advisory fees and total operating expenses of the Trust in comparison to a peer group of comparable funds; information prepared by management with respect to the cost of services provided to the Trust and fees charged, including effective advisory; profit realized by the Adviser and its affiliates that provide services to the Trust; and information regarding the types of services furnished to the Trust, the personnel providing the services, changes in staff, and systems improvements. The Board also received reports from the investment management staff of the Adviser with respect to the securities lending balances of the Trust and the revenue of the securities lending program, which in part is based on the performance of the Trust. In addition to its review of the information presented to the Board during the contract renewal process and throughout the year, the Board also considered knowledge gained from discussions with management.

The Independent Trustees were represented by independent counsel throughout the review process and during executive sessions without management present to consider reapproval of the agreement. The Independent Trustees relied on their own business judgment in determining the weight to be given to each factor considered in evaluating the materials that were presented to them. The Contracts Committee’s and Board’s review and conclusions were based on a comprehensive consideration of all information presented to them and were not the result of any single controlling factor. The key factors considered and the conclusions reached are described below.

16

Additional Information

(unaudited)

Nature, Extent and Quality of Services

At the Board’s regular quarterly meetings, management presented information describing the services furnished to the Trust by the Adviser. During these meetings, management reported on the investment management, securities lending activity, and compliance services provided to the Trust. During the renewal process, the Board considered the specific services provided by the Adviser. The Board also considered information relating to the investment experience and qualifications of the Adviser’s portfolio manager overseeing the Trust.

The Board received reports at its quarterly meetings from the Adviser’s Director of Fixed Income Investments and Chief Investment Officer, both of whom were present at all of the meetings. At quarterly meetings, the Director of Fixed Income Investments presented information about the Trust. At one of its quarterly meetings, a senior portfolio manager presented information about securities lending generally and the Trust’s securities lending activity in particular. These reports and presentations gave the Board the opportunity to evaluate the portfolio manager’s abilities and the quality of services he provides to the Trust. Additional information was presented to the Board describing the portfolio compliance functions performed by the Adviser. The Independent Trustees also received quarterly reports from the Trust’s Chief Compliance Officer.

The Board considered the adequacy of the Adviser’s resources used to provide services to the Trust. The Adviser reviewed with the Board the Adviser’s ongoing program to enhance portfolio management capabilities, including recruitment and retention of portfolio managers, research analysts, and other personnel, and investment in additional and updated technology systems and applications to improve investment research, trading and portfolio compliance, and investment reporting functions. The Adviser also discussed further refinements to certain compliance procedures and improved risk controls. The Board viewed these actions as a positive factor in reapproving the existing advisory agreement, as they demonstrated the Adviser’s commitment to provide the Trust with quality service. The Board concluded that, within the context of its full deliberations, the nature, extent and quality of the investment advisory services provided to the Trust by the Adviser supported renewal of the advisory agreement.

Performance of the Trust

The Board considered whether the Trust has operated in accordance with its investment objectives, which include maximizing current income consistent with preservation of capital and liquidity. In this regard, the Board reviewed stress test reports and considered the Adviser’s opinion that, in its view, the Trust could withstand events that were reasonably likely to occur within the next twelve-month period. At quarterly meetings, the Director of Fixed Income Investments reviewed with the Board the economic and market environment and risk management in connection with management of the Trust and other Thrivent fixed income funds. The Board noted that, as a money market fund, the Trust’s performance was impacted by various factors, including the low interest rate environment and increased regulatory requirements generally experienced by all money market funds.

The Board reviewed quarterly net revenues generated by securities lending activities for the benefit of other Thrivent funds, a portion of which is attributed to the performance of the Trust. The Board noted that the Trust is designed primarily for the investment and reinvestment of cash collateral on behalf of lenders participating in the Trust’s securities lending program, and to offer a sweep option for other investment companies and accounts managed by the Adviser or its affiliates and ultimately enhance the performance of those investment companies and accounts. With respect to performance, the Board considered safety of principal to be the primary goal, and it did not consider specific yield information separate from the securities lending revenue.

Advisory Fees and Fund Expenses

The Board reviewed information prepared by the Adviser comparing the Trust’s advisory fee with the advisory fees of its peer group of funds. The Board noted that the Trust’s advisory fee as compared to the Trust’s peer group was below the median. On the basis of its review, the Board concluded that the advisory fee rate charged to the Trust for investment management services was not excessive.

The Board also reviewed information prepared by the Adviser comparing the Trust’s overall expense ratio with the expense ratio of its peer group of funds. The Board noted that the Trust’s net operating expenses were below the median of its peer group.

Cost of Services and Profitability

The Board considered the profitability of the Adviser both overall and on a fund-by-fund basis. The Board also considered that the Adviser agreed to voluntarily reimburse the Trust for all expense in excess of 0.05% of average daily net assets. The Board considered the level of the Adviser’s profits with respect to all the Thrivent funds, including the Trust. The Board concluded that the Adviser’s profitability was reasonable.

17

Additional Information

(unaudited)

Economies of Scale

The Board considered information regarding the extent to which economies of scale may be realized as the Trust’s assets increase and whether the fee levels reflect these economies of scale for the benefit of shareholders. The Adviser explained its general goal with respect to the employment of fee waivers, expense reimbursements, and breakpoints. The Board also considered management’s view that it can be difficult to generalize as to whether, or to what extent, economies in the advisory function may be realized as the Trust’s assets increase. The Board noted that expected economies of scale, where they may exist, may be shared through the use of fee waivers or reimbursements by the Adviser and/or a lower overall fee rate. The Board considered the advisory fee rate charged to the Trust and determined that the fee rate was acceptable even though the Adviser did not offer breakpoints or contractual waivers.

Other Benefits to the Adviser and its Affiliates

The Board considered information regarding potential “fall-out” or ancillary benefits that the Adviser and its affiliates may receive as a result of their relationship with the Trust, both tangible and intangible, such as their ability to leverage investment professionals who manage other portfolios, reputational benefits in the investment advisory community and the engagement of affiliates as service providers to the Trust. The Board noted that such benefits were difficult to quantify but were consistent with benefits received by other mutual fund advisers.

Based on the factors discussed above, the Contracts Committee unanimously recommended approval of the Advisory Agreement, and the Board, including all of the Independent Trustees voting separately, approved the agreement.

18

This report is submitted for the information of shareholders of

Thrivent Cash Management Trust. It is not authorized

for distribution to prospective investors unless preceded or

accompanied by the current prospectus for Thrivent Cash

Management Trust, which contains more complete

information about the Trust, including investment objectives,

risks, charges and expenses.

Item 2. Code of Ethics

Not applicable to semiannual report

Item 3. Audit Committee Financial Expert

Not applicable to semiannual report

Item 4. Principal Accountant Fees and Services

Not applicable to semiannual report

Item 5. Audit Committee of Listed Registrants

Not applicable

Item 6. Schedule of Investments

(a) Registrant’s Schedule of Investments is included in the report to shareholders filed under Item 1.

(b) Not applicable to this filing.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable

Item 8. Portfolio Managers of Closed-End Management Investment Companies

Not applicable

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable

Item 10. Submission of Matters to a Vote of Security Holders

There have been no material changes to the procedures by which shareholders may recommend nominees to registrant’s board of trustees.

Item 11. Controls and Procedures

(a)(i) Registrant’s President and Treasurer have concluded that registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) Registrant’s President and Treasurer are aware of no change in registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, registrant’s internal control over financial reporting.

Item 12. Exhibits

Certifications pursuant to Rules 30a-2(a) and 30a-2(b) under the Investment Company Act of 1940 are attached hereto.

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.

Date: June 27, 2013	THRIVENT CASH MANAGEMENT TRUST
	By:
		/s/ Russell W. Swansen
		Russell W. Swansen
		President

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.

Date: June 27, 2013	By:
		/s/ Russell W. Swansen
		Russell W. Swansen
		President

Date: June 27, 2013	By:
		/s/ Gerard V. Vaillancourt
		Gerard V. Vaillancourt
		President