N-Q 1 form-dlft.htm QUARTERLY SCHEDULE form-dlft
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C. 20549

FORM N-Q
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT 
INVESTMENT COMPANY

Investment Company Act file number 811-524

The Dreyfus/Laurel Funds Trust
(Exact name of Registrant as specified in charter) 

c/o The Dreyfus Corporation 
200 Park Avenue 
New York, New York 10166 
(Address of principal executive offices) (Zip code) 
 
Michael A. Rosenberg, Esq. 
200 Park Avenue 
New York, New York 10166 
(Name and address of agent for service) 
 
Registrant's telephone number, including area code: (212) 922-6000 

Date of fiscal year end:    10/31 
Date of reporting period:    07/31/07 

     The following Form N-Q relates only to Dreyfus Premier International Bond Fund, a series of the Registrant, and does not affect the other series of the Registrant, which have different fiscal year ends and, therefore, different Form N-Q reporting requirements. A separate Form N-Q will be filed for those series, as appropriate.


FORM N-Q

Item 1. Schedule of Investments.

STATEMENT OF INVESTMENTS                 
Dreyfus Premier International Bond Fund                 
July 31, 2007 (Unaudited)                     
 
        Coupon    Maturity    Principal     
Bonds and Notes--95.2%        Rate (%)    Date    Amount ($)    Value ($) 






Argentina--.9%                     
Republic of Argentina BONAR,                     
Bonds, Ser. VII        7.00    9/12/13    60,000    55,200 
 
Belgium--2.4%                     
Belgium Kingdom,                     
Bonds, Ser. 44    EUR    5.00    3/28/35    30,000 a    43,601 
Belgium Kingdom,                     
Bonds, Ser. 40    EUR    5.50    9/28/17    70,000 a    103,614 
                    147,215 
Brazil--2.5%                     
Federal Republic of Brazil,                     
Unscd. Bonds    BRL    12.50    1/5/16    250,000 a,b    156,615 
 
Cayman Islands--.2%                     
BES Finance,                     
Bank Gtd. Notes    EUR    4.50    12/29/49    10,000 C    12,875 
 
Egypt--1.4%                     
Arab Republic of Egypt,                     
Unsub. Notes    EGP    8.75    7/18/12    500,000 d    89,162 
 
France--4.4%                     
Dexia Municipal Agency,                     
Scd. Notes    JPY    0.80    5/21/12    9,000,000 a    73,434 
Government of France,                     
Bonds    EUR    4.75    4/25/35    140,000 a    197,654 
                    271,088 
Germany--2.2%                     
Bundesobligation,                     
Bonds, Ser. 144    EUR    3.25    4/17/09    100,000 a    134,476 
 
Greece--1.3%                     
Hellenic Republic,                     
Unsub. Bonds    EUR    3.70    7/20/15    60,000 a    77,401 
 
Ireland--6.4%                     
DEPFA ACS BANK,                     
Covered Public Loans    JPY    0.75    9/22/08    30,000,000 a    252,069 
GE Capital European Funding,                     
Gtd. Notes    EUR    4.15    5/4/11    105,000 a,c    143,901 
                    395,970 
Italy--2.2%                     
Atlantia,                     
Gtd. Notes    EUR    4.59    6/9/11    100,000 a,c    138,045 
 
Japan--12.4%                     
Development Bank of Japan,                     
Gov't. Gtd. Bonds    JPY    1.40    6/20/12    8,000,000 a    67,462 
Development Bank of Japan,                     
Gov't. Gtd. Bonds    JPY    1.70    9/20/22    21,000,000 a    169,411 
Japan Finance for Municipal                     
Enterprises, Gov't. Gtd. Bonds    JPY    1.55    2/21/12    6,000,000 a    51,095 
Japan Finance for Municipal                     
Enterprises, Gov't. Gtd. Notes    JPY    1.35    11/26/13    11,000,000 a    91,754 
Japan Government,                     
Bonds, Ser. 244    JPY    1.00    12/20/12    12,000,000 a    98,797 
Japan Government CPI,                     
Bonds,Ser. 10    JPY    1.10    12/10/16    35,000,000 a    289,325 
                    767,844 
 
Mexico--1.2%                     
Mexican Bonos,                     
Bonds, Ser. MI10    MXN    8.00    12/19/13    860,000 a    79,641 


Netherlands--5.7%                     
Netherlands Government,                 
Bonds    EUR    4.00    1/15/37    280,000 a    349,636 
 
South Africa--1.5%                     
South Africa,                     
Notes        5.88    5/30/22    100,000    95,625 
 
Supranational--3.8%                     
European Investment Bank,                 
Sr. Unscd. Notes    JPY    1.40    6/20/17    28,600,000 a    232,338 
 
Sweden--5.9%                     
Swedish Government,                     
Bonds, Ser. 1050    SEK    3.00    7/12/16    200,000 a    26,895 
Swedish Government,                     
Bonds, Ser. 1045    SEK    5.25    3/15/11    2,200,000 a    336,045 
                    362,940 
United Kingdom--16.4%                 
FCE Bank,                     
Notes    EUR    5.16    9/30/09    115,000 a,c    152,077 
National Grid,                     
Sr. Unscd. Notes        6.30    8/1/16    10,000    10,276 
SABMiller,                     
Gtd. Notes        5.66    7/1/09    10,000 c,d    10,025 
United Kingdom Gilt,                     
Bonds    GBP    4.00    3/7/09    120,000 a    238,213 
United Kingdom Gilt,                     
Bonds    GBP    4.25    6/7/32    30,000 a    57,215 
United Kingdom Gilt,                     
Bonds    GBP    4.75    6/7/10    140,000 a    278,765 
United Kingdom Gilt,                     
Bonds    GBP    5.00    9/7/14    135,000 a    269,204 
                    1,015,775 
United States--24.4%                     
Americredit Prime Automobile                 
Receivables, Ser. 2007-1, Cl. A3    5.27    11/8/11    60,000    60,145 
BAC Capital Trust XIII,                     
Jr. Sub. Notes        5.76    3/15/49    15,000 C    14,082 
Bear Stearns Commercial Mortgage                 
Securities, Ser. 2006-PW14,                 
Cl. AAB        5.17    12/11/38    65,000    62,759 
Capital Auto Receivables Asset                 
Trust, Ser. 2006-2, Cl. B    5.07    12/15/11    20,000    19,865 
Capmark Financial Group,                 
Gtd. Notes        5.88    5/10/12    15,000 d    14,040 
Citigroup,                     
Notes    JPY    0.80    10/30/08    2,900,000 a    24,317 
Coventry Health Care,                     
Sr. Unscd. Notes        5.95    3/15/17    15,000    14,318 
Crown Castle Towers,                     
Ser. 2006-1A, Cl. D    5.77    11/15/36    25,000 d    23,896 
Delhaize Group,                     
Notes        6.50    6/15/17    10,000 d    9,717 
ERP Operating,                     
Notes        5.75    6/15/17    20,000    19,422 
First Union-Chase Commercial                 
Mortgage, Ser. 1999-C2, Cl. G    5.95    6/15/31    25,000    25,075 
General Electrical Capital,                 
Sr. Uncd. Notes    JPY    2.00    2/22/17    7,000,000 a    59,070 
Georgia-Pacific,                     
Gtd. Notes        7.00    1/15/15    15,000 d    13,875 
Goldman Sachs Mortgage Securities                 
Corporation II, Ser. 2007-EOP, Cl. L    6.62    3/6/20    25,000 c,d    24,750 
Government National Mortgage Association I:                 
Ser. 2004-23, Cl. B, 2.95%,                 
3/16/19                31,217    30,114 
Ser. 2006-68, Cl. A, 3.89%,                 
7/16/26                24,591    23,876 
Ser. 2006-67, Cl. A, 3.95%,                 


11/16/30                54,333    52,798 
Ser. 2005-76, Cl. A, 3.96%,                     
5/16/30                33,701    32,846 
Ser. 2005-79, Cl. A, 4.00%,                     
10/16/33                30,849    30,173 
Ser. 2007-34, Cl. A, 4.27%,                     
11/16/26                24,939    24,427 
Home Equity Mortgage Trust,                     
Ser. 2006-5, Cl. A1        5.50    1/25/37    18,007 c    17,662 
Host Hotels & Resorts,                     
Scd. Notes        6.88    11/1/14    15,000    14,550 
KFW,                     
Gov't. Gtd. Bonds    JPY    1.75    3/23/10    21,000,000 a    179,575 
Morgan Stanley Capital I,                     
Ser. 2006-IQ12, Cl. A1        5.26    12/15/43    23,019    22,883 
NiSource Finance,                     
Gtd. Notes        5.93    11/23/09    10,000 c    10,008 
Republic of Argentina,                     
Bonds        5.48    8/3/12    40,000 c    28,865 
SLM,                     
Unscd. Notes, Ser. A        4.50    7/26/10    30,000 b    28,073 
Sovereign Bancorp,                     
Sr. Unscd. Notes        5.59    3/23/10    10,000 c    10,002 
Stater Brothers Holdings,                     
Sr. Notes        7.75    4/15/15    10,000 d    9,350 
SunTrust Preferred Capital I,                     
Bank Gtd. Notes        5.85    12/31/49    10,000 c    9,840 
TXU Electric Delivery,                     
Bonds        5.74    9/16/08    15,000 c,d    15,011 
Time Warner Cable,                     
Sr. Unscd. Notes        5.40    7/2/12    10,000 d    9,861 
Time Warner,                     
Gtd. Notes        5.59    11/13/09    10,000 c    10,011 
U.S. Treasury Notes:                     
4.00%, 2/15/15                305,000    290,846 
4.75%, 2/15/10                20,000 b    20,098 
4.88%, 5/31/09                115,000 b    115,584 
4.88%, 6/30/12                20,000 b    20,238 
5.13%, 5/15/16                35,000 b    35,842 
USAA Auto Owner Trust,                     
Ser. 2007-1, Cl. A3        5.43    10/17/11    40,000    40,234 
Washington Mutual Bank,                     
Notes        5.45    5/1/09    10,000 c    10,001 
Willis North America,                     
Gtd. Notes        6.20    3/28/17    15,000    14,993 
Windstream,                     
Gtd. Notes        8.13    8/1/13    10,000    10,162 
Windstream,                     
Gtd. Notes        8.63    8/1/16    5,000    5,088 
                    1,508,342 
Total Bonds and Notes                     
(cost $5,801,413)                    5,890,188 
                Face Amount     
                Covered by     
Options--.7%                Contracts ($)    Value ($) 






Call Options                     
U.S. Treasury 10-Year Notes,                     
September 2007 @ 107.5                300,000    2,484 
3-Month USD Libor-BBA, Swaption            400,000    20,085 
3-Month USD Libor-BBA, Swaption            460,000    23,067 


Total Options         
(cost $38,877)        45,636 
    Principal     
Short-Term Investments--.2%    Amount ($)    Value ($) 



U.S. Treasury Bills;         
4.65%, 9/6/07         
(cost $14,930)    15,000 e    14,926 
 
Investment of Cash Collateral for         
Securities Loaned--6.4%    Shares    Value ($) 



Registered Investment Company;         
Dreyfus Institutional Cash         
Advantage Fund         
(cost $393,139)    393,139 f    393,139 
 
Total Investments (cost $6,248,359)    102.5%    6,343,889 
Liabilities, Less Cash and Receivables    (2.5%)    (157,611) 
Net Assets    100.0%    6,186,278 

a    Principal amount stated in U.S. Dollars unless otherwise noted. 
    BRL--Brazilian Real 
    EGP--Egypt 
    EUR--Euro 
    GBP--British Pound 
    JPY--Japanese Yen 
    MXN--Mexican Peso 
    SEK--Swedish Krona 
b    All or a portion of these securities are on loan. At July 31, 2007, the total market value of the fund's securities 
    on loan is $372,047 and the total market value of the collateral held by the fund is $393,139. 
c    Variable rate security--interest rate subject to periodic change. 
d    Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in 
    transactions exempt from registration, normally to qualified institutional buyers. At July 31, 2007, these 
    securities amounted to $219,687 or 3.6% of net assets. 
e    All or partially held by a broker as collateral for open financial futures positions. 
f    Investment in affiliated money market mutual fund. 
 
Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the annual and 
semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR. 

STATEMENT OF FINANCIAL FUTURES             
July 31, 2007 (Unaudited)                 
                Unrealized 
        Market Value        Appreciation 
        Covered by        (Depreciation) 
    Contracts    Contracts ($)    Expiration    at 7/31/2007 ($) 





Financial Futures Short                 
U.S. Treasury 30 Year Bonds    2    (220,125)    September 2007    (2,395) 
Financial Futures Long                 
U.S. Treasury 2 Year Notes    2    409,875    September 2007    1,870 
U.S. Treasury 5 Year Notes    4    421,875    September 2007    5,756 
U.S. Treasury 10 Year Notes    1    107,422    September 2007    (143) 
Euro Bund 10 Year    4    617,239    September 2007    7,014 
                12,102 
 
 
STATEMENT OF OPTIONS WRITTEN             
July 31, 2007 (Unaudited)                 
 
 
            Contracts    Value ($) 





Put Options                 
U.S. Treasury 10-Year Notes                 
August 2007 @ 101                 
(Premiums received $555)            3    (47) 


Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.


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.

The Dreyfus/Laurel Funds Trust 
 
 
By:    /s/ J. David Officer 
    J. David Officer
    President 
 
Date:    September 26, 2007 

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

By:    /s/ J. David Officer 
    J. David Officer
    President 
 
Date:    September 26, 2007 
 
By:    /s/ James Windels 
    James Windels
    Treasurer 
 
Date:    September 26, 2007 

EXHIBIT INDEX

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)