N-Q 1 formnq928.htm FORM N-Q formnq928.htm - Generated by SEC Publisher for SEC Filing

 

 

 

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

811-3757

 

 

 

DREYFUS PREMIER CALIFORNIA AMT-FREE MUNICIPAL BOND FUND, INC.

 

 

 

(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)

 

 

 

 

 

Janette E. Farragher, 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:

 

05/31

 

Date of reporting period:

2/28/13

 

             

 

 

 

 

FORM N-Q

Item 1.                        Schedule of Investments.

 

 

STATEMENT OF INVESTMENTS       
Dreyfus California AMT-Free Municipal Bond Fund       
February 28, 2013 (Unaudited)         
 
Long-Term Municipal  Coupon  Maturity  Principal   
Investments--98.3%  Rate (%)  Date  Amount ($)  Value ($) 
California--89.6%         
ABAG Finance Authority for         
Nonprofit Corporations,         
Revenue (San Diego Hospital         
Association)  5.38  3/1/21  4,000,000  4,162,920 
ABAG Finance Authority for         
Nonprofit Corporations,         
Revenue (Sharp HealthCare)  6.00  8/1/30  5,000,000  6,170,050 
Alameda Corridor Transportation         
Authority, Senior Lien Revenue  5.00  10/1/21  2,300,000  2,827,482 
Bay Area Toll Authority,         
San Francisco Bay Area Toll         
Bridge Revenue  5.00  4/1/22  5,000,000  6,353,050 
Bay Area Toll Authority,         
San Francisco Bay Area Toll         
Bridge Revenue  5.25  4/1/24  17,580,000  21,333,154 
Bay Area Toll Authority,         
San Francisco Bay Area Toll         
Bridge Revenue  5.00  4/1/34  10,000,000  11,290,100 
Brentwood Infrastructure Financing         
Authority, Water Revenue  5.75  7/1/38  4,250,000  4,803,647 
California,         
Economic Recovery Bonds  5.00  7/1/20  10,000,000  12,221,300 
California,         
GO  5.00  8/1/22  5,000,000  5,748,500 
California,         
GO (Various Purpose)  5.50  4/1/19  4,455,000  5,555,073 
California,         
GO (Various Purpose)  5.25  2/1/23  13,000,000  16,605,680 
California,         
GO (Various Purpose)  5.00  11/1/23  5,000,000  6,060,200 
California,         
GO (Various Purpose)  5.00  9/1/27  5,250,000  6,136,830 
California,         
GO (Various Purpose)  5.25  3/1/30  15,000,000  17,726,550 
California,         
GO (Various Purpose)  5.75  4/1/31  4,500,000  5,384,745 
California,         
GO (Various Purpose)  5.25  9/1/31  25,000,000  29,660,500 
California,         
GO (Various Purpose)  5.25  9/1/32  19,500,000  23,038,080 
California,         
GO (Various Purpose)  5.25  10/1/32  9,170,000  10,847,927 
California,         
GO (Various Purpose)  6.00  3/1/33  3,000,000  3,726,750 
California,         

 


GO (Various Purpose)  6.50  4/1/33  30,000,000  37,656,600 
California,         
GO (Various Purpose)  5.50  11/1/35  10,000,000  12,164,700 
California,         
GO (Various Purpose)  5.00  2/1/38  5,000,000  5,658,550 
California,         
GO (Various Purpose)  5.50  3/1/40  17,500,000  20,726,125 
California Department of Water         
Resources, Power Supply Revenue  5.00  5/1/21  7,500,000  8,999,550 
California Department of Water         
Resources, Power Supply Revenue  5.00  5/1/21  9,000,000  11,175,750 
California Department of Water         
Resources, Water System         
Revenue (Central Valley         
Project)  5.00  12/1/26  7,500,000  8,940,375 
California Department of Water         
Resources, Water System         
Revenue (Central Valley         
Project)  5.00  12/1/27  11,600,000  13,776,972 
California Educational Facilities         
Authority, Revenue (Pooled         
College and University         
Projects)  5.63  7/1/23  135,000  179,173 
California Educational Facilities         
Authority, Revenue (University         
of Southern California)  5.25  10/1/38  5,000,000  5,909,250 
California Health Facilities         
Financing Authority, Health         
Facility Revenue (Adventist         
Health System/West)  5.00  3/1/17  870,000  873,306 
California Health Facilities         
Financing Authority, Health         
Facility Revenue (Adventist         
Health System/West)  5.00  3/1/18  1,000,000  1,003,800 
California Health Facilities         
Financing Authority, Revenue         
(Catholic Healthcare West)  5.63  7/1/32  5,875,000  6,492,110 
California Health Facilities         
Financing Authority, Revenue         
(City of Hope)  5.00  11/15/23  1,650,000  1,997,242 
California Health Facilities         
Financing Authority, Revenue         
(City of Hope)  5.00  11/15/24  1,600,000  1,922,080 
California Health Facilities         
Financing Authority, Revenue         
(Lucile Salter Packard         
Children's Hospital at         
Stanford)  5.00  8/15/25  5,855,000  7,069,678 
California Health Facilities         
Financing Authority, Revenue         
(Rady Children's Hospital -         
San Diego)  5.25  8/15/41  8,500,000  9,414,005 
California Health Facilities         
Financing Authority, Revenue         
(Scripps Health)  5.00  11/15/32  1,150,000  1,314,266 

 


California Health Facilities           
Financing Authority, Revenue           
(Scripps Health)  5.00  11/15/36  12,525,000   13,745,937 
California Health Facilities           
Financing Authority, Revenue           
(Stanford Hospital and Clinics)  5.00  8/15/42  1,000,000   1,137,650 
California Health Facilities           
Financing Authority, Revenue           
(Sutter Health)  5.25  8/15/22  6,000,000   7,030,980 
California Health Facilities           
Financing Authority, Revenue           
(Sutter Health)  5.25  8/15/31  3,500,000   4,143,615 
California Housing Finance Agency,           
Home Mortgage Revenue  5.50  8/1/38  11,430,000   11,718,379 
California Infrastructure and           
Economic Development Bank,           
Revenue (Performing Arts           
Center of Los Angeles County)  5.00  12/1/27  1,000,000   1,082,350 
California Municipal Finance           
Authority, COP (Community           
Hospitals of Central           
California Obligated Group)  5.25  2/1/27  6,750,000   7,196,107 
California Pollution Control           
Financing Authority, PCR (San           
Diego Gas and Electric           
Company) (Insured; National           
Public Finance Guarantee Corp.)  5.90  6/1/14  10,000,000   10,704,600 
California Pollution Control           
Financing Authority, Revenue           
(San Jose Water Company           
Project)  5.10  6/1/40  5,500,000   5,984,055 
California Pollution Control           
Financing Authority, Water           
Facilities Revenue (American           
Water Capital Corporation           
Project)  5.25  8/1/40  7,500,000 a  7,985,325 
California State Public Works           
Board, LR (Department of           
Corrections, Calipatria State           
Prison, Imperial County)           
(Insured; National Public           
Finance Guarantee Corp.)  6.50  9/1/17  9,860,000   11,014,014 
California State Public Works           
Board, LR (Department of           
Health Services-Richmond           
Laboratory, Phase III Office           
Building) (Insured; XLCA)  5.00  11/1/19  1,680,000   1,837,752 
California State Public Works           
Board, LR (Judicial Council of           
California) (Various Judicial           
Council Projects)  5.00  12/1/31  10,000,000   11,328,200 
California State Public Works           
Board, LR (The Regents of the           
University of California)           
(Various University of           
California Projects)  5.50  6/1/14  2,575,000   2,660,619 

 


California State Public Works         
Board, LR (The Regents of the         
University of California)         
(Various University of         
California Projects) (Insured;         
National Public Finance         
Guarantee Corp.)  5.25  6/1/23  4,400,000  5,683,304 
California State University         
Trustees, Systemwide Revenue  5.00  11/1/27  2,510,000  2,887,579 
California State University         
Trustees, Systemwide Revenue  5.00  11/1/28  5,000,000  5,748,400 
California Statewide Communities         
Development Authority, COP         
(The Internext Group)  5.38  4/1/30  20,000,000  20,032,000 
California Statewide Communities         
Development Authority, Insured         
Revenue (Saint Joseph Health         
System) (Insured; FGIC)  5.75  7/1/47  10,000,000  11,556,800 
California Statewide Communities         
Development Authority, Insured         
Revenue (Saint Joseph Health         
System) (Insured; National         
Public Finance Guarantee Corp.)  5.13  7/1/24  5,000,000  5,802,600 
California Statewide Communities         
Development Authority, Revenue         
(American Baptist Homes of the         
West)  2.10  10/1/19  2,000,000  2,011,240 
California Statewide Communities         
Development Authority, Revenue         
(Cottage Health System         
Obligated Group)  5.25  11/1/30  3,750,000  4,350,937 
California Statewide Communities         
Development Authority, Revenue         
(Cottage Health System         
Obligated Group)  5.00  11/1/40  11,940,000  13,224,744 
California Statewide Communities         
Development Authority, Revenue         
(Inland Regional Center         
Project)  5.25  12/1/27  9,000,000  9,827,460 
California Statewide Communities         
Development Authority, Revenue         
(Kaiser Permanente)  5.00  4/1/42  3,000,000  3,388,890 
California Statewide Communities         
Development Authority, Revenue         
(Sutter Health)  5.00  8/15/22  2,000,000  2,412,240 
California Statewide Communities         
Development Authority, Revenue         
(The California Endowment)  5.25  7/1/20  2,280,000  2,319,125 
California Statewide Communities         
Development Authority, School         
Facility Revenue (Aspire         
Public Schools)  6.00  7/1/40  8,000,000  8,525,280 
California Statewide Communities         
Development Authority, Student         
Housing Revenue (CHF-Irvine,         
LLC-UCI East Campus         

 


Apartments, Phase II)  5.75  5/15/32  4,000,000   4,353,680 
Capistrano Unified School District           
(Ladera) Community Facilities           
District Number 98-2, Special           
Tax Bonds (Insured; National           
Public Finance Guarantee Corp.)  5.00  9/1/19  3,545,000   3,756,495 
Carson Redevelopment Agency,           
Tax Allocation Revenue           
(Redevelopment Project Area           
Number 1) (Insured; National           
Public Finance Guarantee Corp.)  5.50  10/1/13  1,000,000   1,020,800 
Chabot-Las Positas Community           
College District, GO (Insured;           
AMBAC)  0.00  8/1/22  3,000,000 b  2,028,360 
Coast Community College District,           
GO (Insured; Assured Guaranty           
Municipal Corp.)  0/5.00  8/1/29  15,565,000 c  16,155,225 
Delano,           
COP (Delano Regional Medical           
Center)  3.00  1/1/15  1,210,000   1,241,157 
Delano,           
COP (Delano Regional Medical           
Center)  4.00  1/1/16  1,245,000   1,324,979 
Delano,           
COP (Delano Regional Medical           
Center)  4.00  1/1/17  1,305,000   1,399,273 
Foothill-De Anza Community College           
District, GO (Insured; AMBAC)  5.00  8/1/22  10,350,000   12,068,100 
Foothill/Eastern Transportation           
Corridor Agency, Toll Road           
Revenue  5.75  1/15/40  1,745,000   1,745,838 
Foothill/Eastern Transportation           
Corridor Agency, Toll Road           
Revenue (Insured; National           
Public Finance Guarantee Corp.)  5.13  1/15/19  2,000,000   2,003,300 
Golden State Tobacco           
Securitization Corporation,           
Enhanced Tobacco Settlement           
Asset-Backed Bonds (Insured;           
Assured Guaranty Municipal           
Corp.)  4.55  6/1/22  1,725,000   1,904,883 
Golden State Tobacco           
Securitization Corporation,           
Tobacco Settlement           
Asset-Backed Bonds  4.50  6/1/27  24,160,000   22,702,186 
Grossmont Union High School           
District, GO (Insured; Assured           
Guaranty Municipal Corp.)  0.00  8/1/21  4,375,000 b  3,491,644 
Grossmont Union High School           
District, GO (Insured; Assured           
Guaranty Municipal Corp.)  0.00  8/1/22  4,605,000 b  3,396,786 
Grossmont Union High School           
District, GO (Insured; Assured           
Guaranty Municipal Corp.)  0.00  8/1/23  4,850,000 b  3,354,793 
Grossmont Union High School           
District, GO (Insured; Assured           

 


Guaranty Municipal Corp.)  0.00  8/1/26  3,265,000 b  1,955,506 
Lincoln Community Facilities           
District Number 2003-1,           
Special Tax Bonds (Lincoln           
Crossing Project) (Prerefunded)  5.65  9/1/13  1,125,000 d  1,176,446 
Los Angeles Department of           
Airports, Senior Revenue (Los           
Angeles International Airport)  5.00  5/15/19  910,000   1,112,357 
Los Angeles Department of           
Airports, Senior Revenue (Los           
Angeles International Airport)  5.25  5/15/26  5,000,000   6,011,200 
Los Angeles Department of           
Airports, Senior Revenue (Los           
Angeles International Airport)  5.00  5/15/29  3,915,000   4,547,429 
Los Angeles Department of           
Airports, Senior Revenue (Los           
Angeles International Airport)  5.25  5/15/29  16,090,000   18,646,379 
Los Angeles Department of           
Airports, Senior Revenue (Los           
Angeles International Airport)  5.00  5/15/35  25,000,000   28,490,250 
Los Angeles Department of Water           
and Power, Power System Revenue  5.00  7/1/17  2,500,000   2,962,425 
Los Angeles Department of Water           
and Power, Water System Revenue  5.00  7/1/43  12,000,000   13,852,320 
Los Angeles Department of Water           
and Power, Water System Revenue  5.00  7/1/43  10,000,000   11,543,600 
Los Angeles Harbor Department,           
Revenue  5.25  8/1/25  26,055,000   31,101,593 
Los Angeles Unified School           
District, GO (Insured;           
National Public Finance           
Guarantee Corp.)  5.75  7/1/15  3,000,000   3,371,070 
Metropolitan Water District of           
Southern California, Water           
Revenue  5.00  7/1/20  4,000,000   5,042,640 
Metropolitan Water District of           
Southern California, Water           
Revenue  5.00  10/1/34  7,390,000   8,788,040 
Metropolitan Water District of           
Southern California, Water           
Revenue  5.00  1/1/39  5,000,000   5,790,400 
Midpeninsula Regional Open Space           
District Financing Authority,           
Revenue (Insured; AMBAC)  0.00  9/1/15  2,825,000 b  2,781,325 
Murrieta Valley Unified School           
District, GO (Insured;           
National Public Finance           
Guarantee Corp.)  0.00  9/1/21  4,950,000 b  3,818,084 
Natomas Unified School District,           
GO (Insured; National Public           
Finance Guarantee Corp.)  5.95  9/1/21  2,500,000   2,850,575 
Northern California Power Agency,           
Revenue (Hydroelectric Project           
Number 1) (Insured; AMBAC)           
(Prerefunded)  7.00  1/1/16  670,000 d  765,287 

 


Northern California Power Agency,           
Revenue (Hydroelectric Project           
Number 1) (Insured; AMBAC)           
(Prerefunded)  7.50  7/1/21  375,000 d  520,193 
Northern California Power Agency,           
Revenue (Hydroelectric Project           
Number 1) (Insured; National           
Public Finance Guarantee Corp.)  6.30  7/1/18  26,400,000   29,852,064 
Orange County Community Facilities           
District, Special Tax Bonds           
(Landera Ranch)  5.63  8/15/34  4,000,000   4,024,240 
Pomona Redevelopment Agency,           
Tax Allocation Revenue (West           
Holt Avenue Redevelopment           
Project)  5.50  5/1/32  3,000,000   3,538,350 
Poway Unified School District,           
School Facilities Improvement           
District Number 2007-1, GO  0.00  8/1/35  12,850,000 b  4,659,796 
Rancho Mirage Joint Powers           
Financing Authority, Revenue           
(Eisenhower Medical Center)           
(Prerefunded)  5.63  7/1/14  10,430,000 d  11,182,629 
Sacramento County,           
Airport System Senior Revenue  5.00  7/1/24  5,090,000   5,899,565 
Sacramento County,           
Airport System Senior Revenue  5.13  7/1/25  5,890,000   6,866,032 
Sacramento County,           
Airport System Senior Revenue  5.00  7/1/40  5,000,000   5,510,550 
Sacramento County Sanitation           
Districts Financing Authority,           
Revenue (Sacramento Regional           
County Sanitation District)  5.00  12/1/26  7,000,000   8,458,590 
Sacramento County Water Financing           
Authority, Revenue (Sacramento           
County Water Agency Zones 40           
and 41 Water System Project)           
(Insured; National Public           
Finance Guarantee Corp.)  5.00  6/1/25  8,500,000   9,784,860 
Sacramento Municipal Utility           
District, Electric Revenue  5.00  8/15/28  2,500,000   2,954,225 
Sacramento Municipal Utility           
District, Electric Revenue           
(Insured; National Public           
Finance Guarantee Corp.)  6.50  9/1/13  1,900,000   1,957,038 
San Bernardino County,           
COP (Capital Facilities           
Project)  6.88  8/1/24  5,000,000   7,105,200 
San Diego County,           
COP (Burnham Institute for           
Medical Research)  5.00  9/1/24  2,265,000   2,363,437 
San Diego County,           
COP (Burnham Institute for           
Medical Research)  5.00  9/1/34  9,880,000   10,176,993 
San Diego County Regional Airport           
Authority, Subordinate Airport           

 


Revenue  5.00  7/1/34  6,000,000   6,741,060 
San Diego County Water Authority,           
Water Revenue  5.00  5/1/31  4,935,000   5,752,631 
San Diego Public Facilities           
Financing Authority, Senior           
Sewer Revenue  5.25  5/15/34  6,045,000   6,934,159 
San Diego Public Facilities           
Financing Authority, Water           
Revenue  5.25  8/1/28  6,000,000   7,145,280 
San Diego Unified School District,           
GO (Insured; Assured Guaranty           
Municipal Corp.)  5.25  7/1/16  1,465,000   1,503,368 
San Francisco City and County           
Airport Commission, Second           
Series Revenue (San Francisco           
International Airport)  5.00  5/1/23  6,775,000   8,248,698 
San Francisco City and County           
Airport Commission, Second           
Series Revenue (San Francisco           
International Airport)  5.25  5/1/26  4,000,000   4,732,520 
San Francisco City and County           
Airport Commission, Second           
Series Revenue (San Francisco           
International Airport)  5.00  5/1/28  2,000,000   2,368,880 
San Francisco City and County           
Airport Commission, Second           
Series Revenue (San Francisco           
International Airport)  5.00  5/1/29  2,000,000   2,358,200 
San Francisco City and County           
Public Utilities Commission,           
San Francisco Water Revenue  5.00  11/1/37  10,000,000   11,537,000 
San Francisco City and County           
Public Utilities Commission,           
San Francisco Water Revenue           
(Insured; Assured Guaranty           
Municipal Corp.)  5.00  11/1/24  13,185,000   14,832,993 
San Francisco City and County           
Redevelopment Agency,           
Community Facilities District           
Number 6 (Mission Bay South           
Public Improvements)  0.00  8/1/18  445,000 b  340,127 
San Francisco City and County           
Redevelopment Agency,           
Community Facilities District           
Number 6 (Mission Bay South           
Public Improvements)  0.00  8/1/21  500,000 b  314,955 
San Francisco City and County           
Redevelopment Agency,           
Community Facilities District           
Number 6, Special Tax Revenue           
(Mission Bay South Public           
Improvements)  5.00  8/1/18  1,585,000   1,787,405 
Southern California Public Power           
Authority, Revenue (Canyon           
Power Project)  5.25  7/1/27  7,485,000   8,867,405 
Southern California Public Power           

 


Authority, Revenue (Linden           
Wind Energy Project)  5.00  7/1/27  5,830,000   6,943,588 
Southern California Public Power           
Authority, Revenue (Linden           
Wind Energy Project)  5.00  7/1/28  3,145,000   3,702,954 
Southern California Public Power           
Authority, Revenue (Linden           
Wind Energy Project)  5.00  7/1/29  2,230,000   2,623,171 
Southern California Public Power           
Authority, Revenue (Milford           
Wind Corridor Phase I Project)  5.00  7/1/29  11,865,000   13,955,850 
Southern California Public Power           
Authority, Revenue (Windy           
Point/Windy Flats Project)  5.00  7/1/27  13,765,000   16,394,253 
Stockton Unified School District,           
GO (Insured; Assured Guaranty           
Municipal Corp.)  5.00  7/1/25  1,620,000   1,839,073 
Stockton Unified School District,           
GO (Insured; Assured Guaranty           
Municipal Corp.)  5.00  7/1/26  1,115,000   1,261,957 
Tobacco Securitization Authority           
of Southern California,           
Tobacco Settlement           
Asset-Backed Bonds (San Diego           
County Tobacco Asset           
Securitization Corporation)  4.75  6/1/25  1,785,000   1,791,372 
Tobacco Securitization Authority           
of Southern California,           
Tobacco Settlement           
Asset-Backed Bonds (San Diego           
County Tobacco Asset           
Securitization Corporation)  5.13  6/1/46  8,850,000   7,570,910 
Torrance,           
Revenue (Torrance Memorial           
Medical Center)  5.00  9/1/40  3,000,000   3,316,770 
Tuolumne Wind Project Authority,           
Revenue (Tuolumne Company           
Project)  5.63  1/1/29  8,000,000   9,289,280 
Turlock Irrigation District,           
Revenue  5.00  1/1/25  5,610,000   6,364,040 
Turlock Irrigation District,           
Revenue  5.00  1/1/26  8,120,000   9,173,732 
University of California Regents,           
General Revenue  5.00  5/15/21  15,000,000   18,888,150 
University of California Regents,           
General Revenue  5.25  5/15/28  10,000,000   11,775,500 
University of California Regents,           
General Revenue  5.75  5/15/31  8,000,000   9,721,040 
West Kern Community College           
District, GO (Insured; XLCA)  0.00  11/1/20  1,000,000 b  750,650 
U.S. Related--8.7%           
Guam,           
Hotel Occupancy Tax Revenue  6.00  11/1/26  3,300,000   3,894,297 
Guam,           

 


LOR (Section 30)  5.63  12/1/29  2,850,000  3,183,365 
Guam Waterworks Authority,         
Water and Wastewater System         
Revenue  5.63  7/1/40  2,000,000  2,118,700 
Puerto Rico Aqueduct and Sewer         
Authority, Senior Lien Revenue  5.13  7/1/37  3,730,000  3,644,024 
Puerto Rico Commonwealth,         
Public Improvement GO  5.25  7/1/22  2,000,000  2,052,800 
Puerto Rico Commonwealth,         
Public Improvement GO  5.50  7/1/39  10,000,000  10,259,900 
Puerto Rico Electric Power         
Authority, Power Revenue  5.25  7/1/22  4,000,000  4,335,000 
Puerto Rico Electric Power         
Authority, Power Revenue  5.00  7/1/28  6,040,000  6,117,252 
Puerto Rico Electric Power         
Authority, Power Revenue  5.25  7/1/28  5,000,000  5,160,950 
Puerto Rico Electric Power         
Authority, Power Revenue  5.00  7/1/42  2,270,000  2,247,436 
Puerto Rico Electric Power         
Authority, Power Revenue         
(Insured; National Public         
Finance Guarantee Corp.)  5.25  7/1/30  10,000,000  10,222,700 
Puerto Rico Highway and         
Transportation Authority,         
Highway Revenue (Insured;         
Assured Guaranty Municipal         
Corp.)  6.25  7/1/16  130,000  154,955 
Puerto Rico Highway and         
Transportation Authority,         
Highway Revenue (Insured;         
Assured Guaranty Municipal         
Corp.)  6.25  7/1/16  2,870,000  3,249,845 
Puerto Rico Highways and         
Transportation Authority,         
Highway Revenue (Insured;         
National Public Finance         
Guarantee Corp.)  5.50  7/1/13  1,380,000  1,405,226 
Puerto Rico Industrial, Tourist,         
Educational, Medical and         
Environmental Control         
Facilities Financing         
Authority, HR (Hospital         
Auxilio Mutuo Obligated Group         
Project)  6.00  7/1/33  2,450,000  2,741,942 
Puerto Rico Infrastructure         
Financing Authority, Special         
Tax Revenue (Insured; AMBAC)  5.50  7/1/28  10,200,000  10,646,352 
Puerto Rico Sales Tax Financing         
Corporation, Sales Tax Revenue         
(First Subordinate Series)  5.38  8/1/39  5,000,000  5,298,850 
Puerto Rico Sales Tax Financing         
Corporation, Sales Tax Revenue         
(First Subordinate Series)  6.38  8/1/39  4,500,000  5,082,435 
Puerto Rico Sales Tax Financing         
Corporation, Sales Tax Revenue         

 


  (First Subordinate Series)  6.00  8/1/42  7,500,000   8,286,375 
  University of Puerto Rico,           
  University System Revenue  5.00  6/1/23  10,000,000   9,933,500 
  Virgin Islands Public Finance           
  Authority, Revenue (Virgin           
  Islands General           
  Obligation/Matching Fund Loan           
  Note)  7.30  10/1/18  2,280,000   2,762,471 
  Virgin Islands Public Finance           
  Authority, Revenue (Virgin           
  Islands Matching Fund Loan           
  Notes)  5.00  10/1/25  5,000,000   5,515,300 
  Total Long-Term Municipal Investments           
  (cost $1,090,272,014)          1,218,815,08 
  Short-Term Municipal  Coupon  Maturity  Principal    
  Investments--1.0%  Rate (%)  Date  Amount ($)   Value ($) 
  California--1.0%           
  California,           
  GO Notes           
  (Kindergarten-University)           
  (LOC; Citibank NA)  0.06  3/1/13  11,800,000 e  11,800,000 
  California Infrastructure and           
  Economic Development Bank,           
  Revenue, Refunding (Los           
  Angeles County Museum of           
  Natural History Foundation)           
  (LOC; Wells Fargo Bank)  0.08  3/1/13  200,000 e  200,000 
  Total Short-Term Municipal Investments           
  (cost $12,000,000)          12,000,000 
Short-Term Investment--.0%           
  U.S. Treasury Bills;           
  0.10%, 7/25/13           
  (cost $129,948)      130,000 f  129,942 
  Total Investments (cost $1,102,401,962)      99.3 %  1,230,945,02 
  Cash and Receivables (Net)      .7 %  9,163,802 
  Net Assets      100.0 %  1,240,108,82 

 

a  Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. This security may be 
  transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2013, this security 
  was valued at $7,985,325 or 0.6% of net assets. 
b  Security issued with a zero coupon. Income is recognized through the accretion of discount. 
c  Zero coupon until a specified date at which time the stated coupon rate becomes effective until maturity. 
d  These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded 
  collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on 
  municipal issue and to retire the bonds in full at the earliest refunding date. 
e  Variable rate demand note - rate shown is the interest rate in effect at February 28, 2013. Maturity date represents 
  next demand date, or the ultimate maturity date if earlier. 
f  Held by or on behalf of a counterparty for swap positions. 

 

At February 28, 2013, net unrealized appreciation on investments was $128,543,065 of which $129,162,303 related to appreciated investment securities and $619,238 related to depreciated investment securities. At February 28, 2013, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.

 

Summary of Abbreviations

ABAG  Association of Bay Area Governments  ACA  American Capital Access 
AGC  ACE Guaranty Corporation  AGIC  Asset Guaranty Insurance Company 
AMBAC  American Municipal Bond Assurance Corporation  ARRN  Adjustable Rate Receipt Notes 
BAN  Bond Anticipation Notes  BPA  Bond Purchase Agreement 
CIFG  CDC Ixis Financial Guaranty  COP  Certificate of Participation 
CP  Commercial Paper  DRIVERS  Derivative Inverse Tax-Exempt 
      Receipts 
EDR  Economic Development Revenue  EIR  Environmental Improvement Revenue 
FGIC  Financial Guaranty Insurance Company  FHA  Federal Housing Administration 
FHLB  Federal Home Loan Bank  FHLMC  Federal Home Loan Mortgage 
      Corporation 
FNMA  Federal National Mortgage Association  GAN  Grant Anticipation Notes 
GIC  Guaranteed Investment Contract  GNMA  Government National Mortgage 
      Association 
GO  General Obligation  HR  Hospital Revenue 
IDB  Industrial Development Board  IDC  Industrial Development Corporation 
IDR  Industrial Development Revenue  LIFERS  Long Inverse Floating Exempt 
      Receipts 
LOC  Letter of Credit  LOR  Limited Obligation Revenue 
LR  Lease Revenue  MERLOTS  Municipal Exempt Receipt Liquidity 
      Option Tender 
MFHR  Multi-Family Housing Revenue  MFMR  Multi-Family Mortgage Revenue 
PCR  Pollution Control Revenue  P-FLOATS  Puttable Floating Option Tax- 
      Exempts Receipts 
PILOT  Payment in Lieu of Taxes  PUTTERS  Puttable Tax-Exempt Receipts 
RAC  Revenue Anticipation Certificates  RAN  Revenue Anticipation Notes 
RAW  Revenue Anticipation Warrants  ROCS  Reset Option Certificates 
RRR  Resources Recovery Revenue  SAAN  State Aid Anticipation Notes 
SBPA  Standby Bond Purchase Agreement  SFHR  Single Family Housing Revenue 
SFMR  Single Family Mortgage Revenue  SONYMA  State of New York Mortgage Agency 
SPEARS  Short Puttable Exempt Adjustable Receipts  SWDR  Solid Waste Disposal Revenue 
TAN  Tax Anticipation Notes  TAW  Tax Anticipation Warrants 
TRAN  Tax and Revenue Anticipation Notes  XLCA  XL Capital Assurance 

 


The following is a summary of the inputs used as of February 28, 2013 in valuing the fund's investments:

      Level 3 -   
  Level 1 -  Level 2 - Other  Significant   
  Unadjusted Quoted  Significant  Unobservable   
Assets ($)  Prices  Observable Inputs  Inputs  Total 
Investments in Securities:         
Municipal Bonds  -  1,230,815,085  -  1,230,815,085 
U.S. Treasury  -  129,942  -  129,942 

 


The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

Portfolio valuation: The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.

Various inputs are used in determining the value of the fund’s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:

Level 1—unadjusted quoted prices in active markets for identical investments.

Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

Level 3—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. Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund’s investments are as follows:

Investments in securities are valued each business day by an independent pricing service (the “Service”) approved by the Board of Directors. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration of the following: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. All preceding securities are categorized as Level 2 in the hierarchy.

When market quotations or official closing prices are not readily available,


or are determined not to reflect accurately fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded (for example, a foreign exchange or market), but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board of Directors. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized as Level 2 or 3 depending on the relevant inputs used.

For restricted securities where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

U.S. Treasury Bills are valued at the mean price between quoted bid prices and asked prices by the Service. These securities are generally categorized within Level 2 of the fair value hierarchy.

Additional 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.

 

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.

DREYFUS PREMIER CALIFORNIA AMT-FREE MUNICIPAL BOND FUND, INC.

 

By: /s/ Bradley J. Skapyak

Bradley J. Skapyak

President

 

Date:

April 25, 2013

 

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/ Bradley J. Skapyak

Bradley J. Skapyak

President

 

Date:

April 25, 2013

 

By: /s/ James Windels

James Windels

Treasurer

 

Date:

April 25, 2013

 

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)