N-Q 1 nq123104inv_cgf.txt N-Q FILING 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 811-43 Investment Trust ---------------- (Exact name of registrant as specified in charter) Two International Place Boston, MA 02110 ---------------- (Address of principal executive offices) (Zip code) Salvatore Schiavone Two International Place Boston, Massachusetts 02110 --------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (617) 295-2663 -------------- Date of fiscal year end: 09/30 ----- Date of reporting period: 12/31/04 ---------- Form N-Q is to be used by registered management investment companies, other than small business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507. ITEM 1. SCHEDULE OF INVESTMENTS
Scudder Capital Growth Fund Investment Portfolio as of December 31, 2004 (Unaudited) ------------------------------------------------------------------------------------------------------------------------------ Shares Value ($) -------------------------------------------- Common Stocks 98.0% Consumer Discretionary 14.7% Automobiles 1.6% Harley-Davidson, Inc. 321,100 19,506,825 ----------- Hotels Restaurants & Leisure 2.2% International Game Technology (b) 396,200 13,621,356 YUM! Brands, Inc. 295,800 13,955,844 ----------- 27,577,200 Household Durables 0.3% Fortune Brands, Inc. 54,300 4,190,874 ----------- Internet & Catalog Retail 1.2% eBay, Inc.* 124,500 14,476,860 ----------- Media 4.6% Comcast Corp. "A"* 336,900 11,063,796 McGraw-Hill Companies, Inc. 181,700 16,632,818 Omnicom Group, Inc. 212,800 17,943,296 Viacom, Inc. "B" 306,700 11,160,813 ----------- 56,800,723 Multiline Retail 2.6% Kohl's Corp.* 114,500 5,629,965 Target Corp. 507,400 26,349,282 ----------- 31,979,247 Specialty Retail 2.2% Bed Bath & Beyond, Inc.* 97,500 3,883,425 Home Depot, Inc. 84,700 3,620,078 Lowe's Companies, Inc. 181,400 10,446,826 Staples, Inc. 264,700 8,923,037 ----------- 26,873,366 Consumer Staples 11.4% Beverages 2.3% PepsiCo, Inc. 537,400 28,052,280 ----------- Food & Staples Retailing 3.9% Wal-Mart Stores, Inc. 658,000 34,755,560 Walgreen Co. 367,800 14,112,486 ----------- 48,868,046 Food Products 1.7% Dean Foods Co.* 93,200 3,070,940 Hershey Foods Corp. 161,500 8,969,710 Kellogg Co. 215,800 9,637,628 ----------- 21,678,278 Household Products 3.5% Colgate-Palmolive Co. 191,400 9,792,024 Kimberly-Clark Corp. 92,800 6,107,168 Procter & Gamble Co. 490,300 27,005,724 ----------- 42,904,916 Energy 9.5% Energy Equipment & Services 4.1% Baker Hughes, Inc. 333,100 14,213,377 Nabors Industries Ltd.* 271,500 13,925,235 Schlumberger Ltd. 246,100 16,476,395 Transocean, Inc.* 160,800 6,816,312 ----------- 51,431,319 Oil & Gas 5.4% ConocoPhillips 215,700 18,729,231 Devon Energy Corp. 415,000 16,151,800 EOG Resources, Inc. 446,800 31,883,648 ----------- 66,764,679 Financials 9.0% Banks 1.3% Bank of America Corp. 344,100 16,169,259 ----------- Capital Markets 2.0% Goldman Sachs Group, Inc. 60,100 6,252,804 Lehman Brothers Holdings, Inc. 78,100 6,832,188 Morgan Stanley 207,800 11,537,056 ----------- 24,622,048 Consumer Finance 2.2% American Express Co. 478,200 26,956,134 ----------- Diversified Financial Services 1.6% Citigroup, Inc. 422,266 20,344,776 ----------- Insurance 1.9% AFLAC, Inc. 292,500 11,653,200 American International Group, Inc. 179,330 11,776,601 ----------- 23,429,801 Health Care 21.0% Biotechnology 5.1% Amgen, Inc.* 104,200 6,684,430 Biogen Idec, Inc.* 185,100 12,329,511 Genentech, Inc.* 524,700 28,564,668 Gilead Sciences, Inc.* 464,900 16,266,851 ----------- 63,845,460 Health Care Equipment & Supplies 5.6% Baxter International, Inc. 300,300 10,372,362 Boston Scientific Corp.* 325,600 11,575,080 C.R. Bard, Inc. 130,200 8,330,196 Hospira, Inc.* 47,580 1,593,930 Medtronic, Inc. 327,700 16,276,859 Zimmer Holdings, Inc.* 268,230 21,490,588 ----------- 69,639,015 Health Care Providers & Services 2.5% UnitedHealth Group, Inc. 348,200 30,652,046 ----------- Pharmaceuticals 7.8% Abbott Laboratories 475,900 22,200,735 Eli Lilly & Co. 154,800 8,784,900 Johnson & Johnson 667,300 42,320,166 Pfizer, Inc. 859,725 23,118,005 ----------- 96,423,806 Industrials 8.5% Aerospace & Defense 2.1% United Technologies Corp. 251,200 25,961,520 ----------- Air Freight & Logistics 1.3% FedEx Corp. 166,500 16,398,585 ----------- Industrial Conglomerates 4.5% 3M Co. 131,800 10,816,826 General Electric Co. 1,242,900 45,365,850 ----------- 56,182,676 Machinery 0.6% Caterpillar, Inc. 74,000 7,215,740 ----------- Information Technology 22.3% Communications Equipment 3.2% Cisco Systems, Inc.* 1,109,700 21,417,210 QUALCOMM, Inc.* 442,800 18,774,720 ----------- 40,191,930 Computers & Peripherals 4.6% Dell, Inc.* 261,200 11,006,968 EMC Corp.* 1,537,000 22,855,190 International Business Machines Corp. 230,700 22,742,406 ----------- 56,604,564 IT Consulting & Services 2.7% Accenture Ltd. "A"* 434,200 11,723,400 Fiserv, Inc.* 400,800 16,108,152 Paychex, Inc. 164,600 5,609,568 ----------- 33,441,120 Semiconductors & Semiconductor Equipment 3.7% Intel Corp. 1,047,280 24,495,879 Linear Technology Corp. 359,300 13,926,468 Texas Instruments, Inc. 287,300 7,073,326 ----------- 45,495,673 Software 8.1% Adobe Systems, Inc. 61,900 3,883,606 Electronic Arts, Inc.* (b) 296,300 18,275,784 Intuit, Inc.* 178,500 7,855,785 Microsoft Corp. 1,813,500 48,438,585 Oracle Corp.* 759,000 10,413,480 Symantec Corp.* 424,900 10,945,424 ----------- 99,812,664 Materials 0.9% Chemicals Ecolab, Inc. 301,600 10,595,208 ----------- Telecommunication Services 0.7% Diversified Telecommunication Services Verizon Communications, Inc. 212,400 8,604,324 ----------- Total Common Stocks (Cost $850,836,556) 1,213,690,962 ------------- Exchange Traded Fund 0.5% Semiconductor HOLDRs Trust (Cost $6,289,231) 180,400 6,018,144 ----------- Securities Lending Collateral 1.9% Daily Assets Fund Institutional 2.25% (c)(d) (Cost $23,298,500) 23,298,500 23,298,500 ----------- Cash Equivalents 0.6% Scudder Cash Management QP Trust 2.24% (a) (Cost $7,609,573) 7,609,573 7,609,573 ----------- % of Net Assets Value ($) ---------- --------- Total Investment Portfolio (Cost $888,033,860) 101.0 1,250,617,179 Other Assets and Liabilities, Net -1.0 -11,958,846 ------------- Net Assets 100.0 1,238,658,333 =============
For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements. * Non-income producing security. (a) Scudder Cash Management QP Trust is managed by Deutsche Investment Management Americas Inc. The rate shown is the annualized seven-day yield at period end. (b) All or a portion of these securities were on loan. The value of all securities loaned at December 31, 2004 amounted to $22,639,952, which is 1.8% of net assets. (c) Daily Assets Fund Institutional, an affiliated fund, is managed by Deutsche Asset Management, Inc. The rate shown is the annualized seven-day yield at period end. (d) Represents collateral held in connection with securities lending. HOLDRs: Holding Company Depositary Receipts 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: Scudder Capital Growth Fund By: /s/ Julian Sluyters --------------------------- Julian Sluyters Chief Executive Officer Date: February 22, 2005 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: Scudder Capital Growth Fund By: /s/ Julian Sluyters --------------------------- Julian Sluyters Chief Executive Officer Date: February 22, 2005 By: /s/ Paul Schubert --------------------------- Paul Schubert Chief Financial Officer Date: February 22, 2005