N-Q 1 lp1928.htm FORM N-Q lp1928.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

811-03757

 

 

 

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)

 

 

 

 

 

Bennett A. MacDougall, Esq.

200 Park Avenue

New York, New York  10166

 

 

(Name and address of agent for service)

 

 

Registrant's telephone number, including area code: 

(212) 922-6400

 

 

Date of fiscal year end:

 

  05/31

 

Date of reporting period:

  08/31/18

 
             

 

 

FORM N-Q

Item 1.             Schedule of Investments.

 

 

STATEMENT OF INVESTMENTS
Dreyfus California AMT-Free Municipal Bond Fund
August 31, 2018 (Unaudited)

  Coupon  Maturity  Principal    
Description  Rate (%)  Date  Amount ($)   Value ($) 
Long-Term Municipal Investments - 100.1%           
California - 99.4%           
ABAG Finance Authority for Nonprofit           
Corporations,           
Revenue Bonds (Sharp HealthCare)  5.00  8/1/43  13,250,000   14,431,237 
ABAG Finance Authority for Nonprofit           
Corporations,           
Revenue Bonds (Sharp HealthCare)  6.00  8/1/30  5,000,000   5,575,200 
Alameda Corridor Transportation           
Authority,           
Second Subordinate Lien Revenue           
Bonds  5.00  10/1/37  1,650,000   1,843,595 
Allan Hancock Joint Community College,           
GO (Convertible CABS-Election of           
2006)  0/5.60  8/1/47  11,375,000 a  7,217,324 
Anaheim Community Facilities District           
Number 08-1,           
Special Tax Revenue Bonds (Platinum           
Triangle)  4.00  9/1/46  2,000,000   2,013,600 
Anaheim Community Facilities District           
Number 08-1,           
Special Tax Revenue Bonds (Platinum           
Triangle)  4.00  9/1/41  5,250,000   5,303,707 
California,           
GO (Various Purpose)  5.00  8/1/36  7,000,000   8,085,140 
California,           
GO (Various Purpose)  5.00  2/1/38  5,000,000   5,460,300 
California,           
GO (Various Purpose)  5.00  9/1/36  10,000,000   11,565,100 
California,           
GO (Various Purpose)  5.25  2/1/29  13,835,000   15,341,631 
California,           
GO (Various Purpose)  5.25  9/1/31  25,000,000   27,483,500 
California,           
GO (Various Purpose)  5.25  10/1/32  9,170,000   10,091,035 
California,           
GO (Various Purpose)  5.25  3/1/30  15,000,000   15,795,450 
California,           
GO (Various Purpose)  5.25  9/1/32  19,500,000   21,407,295 
California,           
GO (Various Purpose)  5.50  3/1/40  17,500,000   18,439,050 
California,           
GO (Various Purpose)  5.50  11/1/35  10,000,000   10,787,400 
California,           
GO (Various Purpose)  6.00  3/1/33  2,000,000   2,130,180 

 

 

STATEMENT OF INVESTMENTS (Unaudited) (continued)

  Coupon  Maturity  Principal    
Description  Rate (%)  Date  Amount ($)   Value ($) 
Long-Term Municipal Investments - 100.1% (continued)       
California - 99.4% (continued)           
California,           
GO (Various Purpose)  6.50  4/1/33  11,505,000   11,826,680 
California Communities Development           
Authority,           
Revenue Bonds, Refunding (Front           
Porch Communities & Services)  5.00  4/1/47  4,555,000   5,053,545 
California County Tobacco Securitization           
Agency,           
Tobacco Settlement Asset-Backed           
Refunding Bonds (Kern County           
Tobacco Funding Corporation)  5.00  6/1/34  5,000,000   5,340,400 
California County Tobacco Securitization           
Agency,           
Tobacco Settlement Revenue Bonds  0.00  6/1/46  12,500,000 b  1,843,875 
California Education Facilities Authority,           
Revenue Bonds (Loma Linda           
University)  5.00  4/1/36  3,845,000   4,357,116 
California Education Facilities Authority,           
Revenue Bonds (Loma Linda           
University)  5.00  4/1/37  1,500,000   1,694,985 
California Educational Facilities           
Authority,           
Revenue Bonds (Chapman University)  5.00  4/1/45  2,305,000   2,560,648 
California Educational Facilities           
Authority,           
Revenue Bonds (Chapman University)  5.00  4/1/40  5,000,000   5,576,550 
California Educational Facilities           
Authority,           
Revenue Bonds (Occidental College)  5.00  10/1/45  500,000   566,010 
California Educational Facilities           
Authority,           
Revenue Bonds (Pepperdine           
University)  5.00  9/1/45  5,000,000   5,659,900 
California Educational Facilities           
Authority,           
Revenue Bonds (Pooled College and           
University Projects) (Escrowed to           
Maturity)  5.63  7/1/23  90,000   98,272 
California Health Facilities Authority,           
Revenue Bonds, Refunding (Stanford           
Health Care)  5.00  11/15/37  3,360,000   3,902,203 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Adventist Health           
System/West)  4.00  3/1/39  2,925,000   3,020,618 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Children's Hospital)  5.00  8/15/47  2,000,000   2,228,640 

 

 

  Coupon  Maturity  Principal    
Description  Rate (%)  Date  Amount ($)   Value ($) 
Long-Term Municipal Investments - 100.1% (continued)       
California - 99.4% (continued)           
California Health Facilities Financing           
Authority,           
Revenue Bonds (City of Hope)  5.00  11/15/24  1,600,000   1,793,520 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Lucie Salter Packard           
Children's Hospital at Sanford)  5.00  7/1/37  590,000 c  656,174 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Lucie Salter Packard           
Children's Hospital at Sanford)  5.00  7/1/47  875,000 c  964,066 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Providence Health and           
Services)  5.00  10/1/31  4,430,000   5,044,928 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Providence Health and           
Services)  5.00  10/1/30  3,500,000   4,002,775 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Rady Children's           
Hospital - San Diego)  5.25  8/15/41  8,500,000   9,096,955 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Saint Joseph Health           
System)  5.00  7/1/37  7,500,000   8,339,325 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Scripps Health)  5.00  11/15/36  7,525,000   7,830,891 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Stanford Hospital and           
Clinics)  5.00  8/15/42  1,000,000   1,098,070 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Sutter Health)  5.00  11/15/30  750,000   866,325 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Sutter Health)  5.00  11/15/46  12,275,000   13,856,020 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Sutter Health)  5.00  11/15/31  1,150,000   1,323,478 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Sutter Health)  5.00  11/15/48  3,000,000   3,409,140 
California Health Facilities Financing           
Authority,           
Revenue Bonds (Sutter Health)  5.00  8/15/43  2,000,000   2,251,700 

 

 

STATEMENT OF INVESTMENTS (Unaudited) (continued)

  Coupon  Maturity  Principal    
Description  Rate (%)  Date  Amount ($)   Value ($) 
Long-Term Municipal Investments - 100.1% (continued)       
California - 99.4% (continued)           
California Health Facilities Financing           
Authority,           
Revenue Bonds (Sutter Health)  5.25  8/15/31  3,500,000   3,828,895 
California Infrastructure and Economic           
Development Bank,           
Revenue Bonds (Academy of Motion           
Pictures Arts and Sciences Obligated           
Group)  5.00  11/1/41  2,250,000   2,507,760 
California Municipal Finance Authority,           
Charter School Revenue Bonds (The           
Palmdale Aerospace Academy Project)  5.00  7/1/46  1,670,000 c  1,713,370 
California Municipal Finance Authority,           
Charter School Revenue Bonds (The           
Palmdale Aerospace Academy Project)  5.00  7/1/41  1,750,000 c  1,801,240 
California Municipal Finance Authority,           
Revenue Bonds (Biola University)  5.00  10/1/39  1,000,000   1,130,650 
California Municipal Finance Authority,           
Revenue Bonds (California Baptist           
University)  5.00  11/1/46  2,500,000 c  2,734,250 
California Municipal Finance Authority,           
Revenue Bonds (Channing House           
Project)  5.00  5/15/47  2,500,000   2,845,350 
California Municipal Finance Authority,           
Revenue Bonds (Community Medical           
Centers)  5.00  2/1/37  1,000,000   1,113,000 
California Municipal Finance Authority,           
Revenue Bonds (Community Medical           
Centers)  5.00  2/1/36  1,000,000   1,116,870 
California Municipal Finance Authority,           
Revenue Bonds (Eisenhower Medical           
Center)  5.00  7/1/42  2,500,000   2,746,550 
California Municipal Finance Authority,           
Revenue Bonds (Eisenhower Medical           
Center)  5.00  7/1/42  3,500,000   3,845,170 
California Municipal Finance Authority,           
Revenue Bonds (Eisenhower Medical           
Center)  5.00  7/1/37  1,000,000   1,104,170 
California Municipal Finance Authority,           
Revenue Bonds (Eisenhower Medical           
Center)  5.00  7/1/36  1,100,000   1,217,216 
California Municipal Finance Authority,           
Student Housing Revenue Bonds           
(Bowles Hall Foundation)  5.00  6/1/50  1,500,000   1,616,205 
California Pollution Control Financing           
Authority,           
Revenue Bonds (San Jose Water           
Company Project)  5.10  6/1/40  5,500,000   5,877,795 

 

 

  Coupon  Maturity  Principal    
Description  Rate (%)  Date  Amount ($)   Value ($) 
Long-Term Municipal Investments - 100.1% (continued)       
California - 99.4% (continued)           
California Pollution Control Financing           
Authority,           
Water Facilities Revenue Bonds           
(American Water Capital Corporation           
Project)  5.25  8/1/40  7,500,000 c  7,937,475 
California Public Finance Authority,           
Revenue Bonds (Henry Mayo Newhall           
Hospital)  5.00  10/15/47  3,000,000   3,233,940 
California Public Finance Authority,           
Revenue Bonds, Refunding (Sharp           
Healthcare)  5.00  8/1/47  4,000,000   4,507,960 
California Public Finance Authority,           
University Housing Revenue Bonds           
(NCCD-Claremont Properties LLC-           
Claremont Colleges Project)  5.00  7/1/47  1,000,000 c  1,039,710 
California School Finance Authority,           
Charter School Revenue Bonds (Aspire           
Public Schools - Obligated Group)  5.00  8/1/41  1,750,000 c  1,873,148 
California School Finance Authority,           
School Facility Revenue Bonds (Alliance           
for College-Ready Public Schools           
Projects)  5.00  7/1/45  3,500,000 c  3,734,955 
California State Public Works Board,           
LR (Department of Corrections and           
Rehabilitation) (Various Correctional           
Facilities)  5.00  9/1/26  5,000,000   5,796,750 
California State Public Works Board,           
LR (Judicial Council of California)           
(Various Judicial Council Projects)  5.00  12/1/31  10,000,000   10,949,200 
California Statewide Communities           
Development Authority,           
Revenue Bonds (Loma Linda           
University Medical Center) Series A  5.50  12/1/58  1,500,000 c  1,655,715 
California Statewide Communities           
Development Authority,           
Revenue Bonds (American Baptist           
Homes of the West)  5.00  10/1/45  3,550,000   3,837,053 
California Statewide Communities           
Development Authority,           
Revenue Bonds (Baptist University)  5.00  11/1/32  1,855,000 c  2,097,671 
California Statewide Communities           
Development Authority,           
Revenue Bonds (Baptist University)  5.00  11/1/41  700,000 c  775,250 
California Statewide Communities           
Development Authority,           
Revenue Bonds (Buck Institute for           
Research on Aging) (Insured; Assured           
Guaranty Municipal Corp.)  5.00  11/15/34  2,390,000   2,679,811 

 

 

STATEMENT OF INVESTMENTS (Unaudited) (continued)

  Coupon  Maturity  Principal    
Description  Rate (%)  Date  Amount ($)   Value ($) 
Long-Term Municipal Investments - 100.1% (continued)       
California - 99.4% (continued)           
California Statewide Communities           
Development Authority,           
Revenue Bonds (Cottage Health System           
Obligated Group)  5.00  11/1/43  4,000,000   4,410,960 
California Statewide Communities           
Development Authority,           
Revenue Bonds (Cottage Health System           
Obligated Group)  5.00  11/1/40  11,940,000   12,534,015 
California Statewide Communities           
Development Authority,           
Revenue Bonds (Cottage Health System           
Obligated Group)  5.25  11/1/30  3,750,000   3,996,750 
California Statewide Communities           
Development Authority,           
Revenue Bonds (Henry Mayo Newhall           
Memorial Hospital) (Insured; Assured           
Guaranty Municipal Corp.)  5.25  10/1/43  2,100,000   2,318,757 
California Statewide Communities           
Development Authority,           
Revenue Bonds (John Muir Health)  5.00  8/15/41  1,200,000   1,352,244 
California Statewide Communities           
Development Authority,           
Revenue Bonds (Loma Linda University           
Medical Center)  5.00  12/1/36  5,250,000 c  5,727,487 
California Statewide Communities           
Development Authority,           
Revenue Bonds (University of           
California, Irvine East Campus           
Apartments)  5.00  5/15/40  3,000,000   3,337,470 
California Statewide Communities           
Development Authority,           
Revenue Bonds (Viamonte Senior           
Living Project)  3.00  7/1/25  3,700,000   3,759,015 
California Statewide Communities           
Development Authority,           
Student Housing Revenue Bonds           
(University of California Irvine Campus           
Apartments Phase IV)  5.00  5/15/42  4,000,000   4,494,080 
Carlsbad Unified School District,           
GO  0/6.00  5/1/34  5,000,000 a,d  5,819,850 
Escondido Union High School District,           
GO  0.00  8/1/46  3,000,000 b  954,390 
Foothill/Eastern Transportation Corridor           
Agency,           
Senior Lien Toll Road Revenue Bonds           
(Insured; Assured Guaranty Municipal           
Corp.)  0.00  1/15/35  10,000,000 b  5,189,200 

 

 

  Coupon  Maturity  Principal    
Description  Rate (%)  Date  Amount ($)   Value ($) 
Long-Term Municipal Investments - 100.1% (continued)       
California - 99.4% (continued)           
Fresno Joint Powers Financing Authority,           
Lease Revenue Bonds (Master Lease           
Project) (Insured; Assured Guaranty           
Municipal Corporation)  5.00  4/1/37  850,000   956,429 
Fresno Joint Powers Financing Authority,           
Lease Revenue Bonds (Master Lease           
Project) (Insured; Assured Guaranty           
Municipal Corporation)  5.00  4/1/35  1,000,000   1,133,190 
Golden State Tobacco Securitization           
Corporation,           
Revenue Bonds (Tobacco Settlement)  5.00  6/1/26  2,500,000   2,870,825 
Golden State Tobacco Securitization           
Corporation,           
Revenue Bonds , Refunding, Series A-1  5.00  6/1/47  9,500,000   9,766,475 
Golden State Tobacco Securitization           
Corporation,           
Tobacco Settlement Asset-Backed           
Bonds  0.00  6/1/47  50,000,000 b  8,876,500 
Golden State Tobacco Securitization           
Corporation,           
Tobacco Settlement Asset-Backed           
Bonds  5.00  6/1/29  8,000,000   9,188,400 
Grossmont Union High School District,           
GO (Insured; Assured Guaranty           
Municipal Corp.)  0.00  8/1/23  4,850,000 b  4,354,281 
Grossmont Union High School District,           
GO (Insured; Assured Guaranty           
Municipal Corp.)  0.00  8/1/26  3,265,000 b  2,647,393 
Grossmont Union High School District,           
GO (Insured; Assured Guaranty           
Municipal Corp.)  0.00  8/1/22  3,605,000 b  3,327,703 
Imperial Irrigation District,           
Electric System Revenue Bonds  5.00  11/1/37  2,500,000   2,859,875 
Imperial Irrigation District,           
Electric System Revenue Bonds  5.00  11/1/38  1,800,000   2,055,114 
Irvine Community Facilities District           
Number 2013-3 Improvement Area           
Number 1,           
Special Tax Revenue Bonds (Great           
Park)  5.00  9/1/44  2,500,000   2,692,625 
Irvine Unified School District,           
Special Tax  5.00  9/1/42  1,000,000   1,114,830 
Irvine Unified School District,           
Special Tax  5.00  9/1/42  400,000   445,932 
Irvine Unified School District,           
Special Tax  5.00  9/1/42  1,000,000   1,114,830 
Jurupa Public Financing Authority,           
Special Tax Revenue Bonds  5.00  9/1/42  3,420,000   3,778,587 

 

 

STATEMENT OF INVESTMENTS (Unaudited) (continued)

  Coupon  Maturity  Principal   
Description  Rate (%)  Date  Amount ($)  Value ($) 
Long-Term Municipal Investments - 100.1% (continued)     
California - 99.4% (continued)         
Lancaster Redevelopment Agency,         
Successor Agency Tax Allocation (Comb         
Redevelopment Project Areas)         
(Insured; Assured Guaranty Municipal         
Corporation)  5.00  8/1/33  1,200,000  1,375,944 
Lodi Public Financing Authority,         
Electric Revenue Bonds (Insured;         
Assured Guaranty Municipal         
Corporation)  5.00  9/1/30  1,275,000  1,532,716 
Long Beach,         
Harbor Revenue Bonds  5.00  5/15/42  3,500,000  3,966,935 
Los Angeles Community Facilities District         
Number 4,         
Special Tax Revenue Bonds (Playa         
Vista-Phase 1)  5.00  9/1/29  1,190,000  1,342,522 
Los Angeles Community Facilities District         
Number 4,         
Special Tax Revenue Bonds (Playa         
Vista-Phase 1)  5.00  9/1/30  1,110,000  1,246,386 
Los Angeles County Public Works         
Financing Authority,         
LR  5.00  12/1/45  4,000,000  4,539,160 
Los Angeles County Regional Financing         
Authority,         
Revenue Bonds (MonteCedro Inc.         
Project)  5.00  11/15/44  2,000,000  2,195,340 
Los Angeles Department of Airports,         
Senior Revenue Bonds (Los Angeles         
International Airport)  5.00  5/15/29  3,915,000  4,141,953 
Los Angeles Department of Airports,         
Senior Revenue Bonds (Los Angeles         
International Airport)  5.00  5/15/35  25,000,000  26,406,000 
Los Angeles Department of Airports,         
Senior Revenue Bonds (Los Angeles         
International Airport)  5.00  5/15/38  3,500,000  3,901,625 
Los Angeles Department of Airports,         
Senior Revenue Bonds (Los Angeles         
International Airport)  5.25  5/15/26  1,500,000  1,597,380 
Los Angeles Department of Airports,         
Senior Revenue Bonds (Los Angeles         
International Airport)  5.25  5/15/29  16,090,000  16,525,395 
Los Angeles Department of Airports,         
Subordinate Revenue Bonds (Los         
Angeles International Airport)  5.00  5/15/38  4,500,000  5,097,420 
Los Angeles Harbor Department,         
Revenue Bonds  4.00  8/1/39  10,000,000  10,426,700 
Los Angeles Harbor Department,         
Revenue Bonds  5.00  8/1/39  2,050,000  2,323,696 

 

 

  Coupon  Maturity  Principal    
Description  Rate (%)  Date  Amount ($)   Value ($) 
Long-Term Municipal Investments - 100.1% (continued)       
California - 99.4% (continued)           
Los Angeles Harbor Department,           
Revenue Bonds  5.25  8/1/25  8,000,000   8,266,480 
Los Angeles Unified School District,           
GO  5.00  7/1/28  2,000,000   2,392,400 
Metropolitan Water District of Southern           
California,           
Water Revenue Bonds  5.00  7/1/40  2,000,000   2,299,580 
Metropolitan Water District of Southern           
California,           
Water Revenue Bonds  5.00  10/1/34  5,000,000   5,532,800 
North Natomas Community Facilities           
District Number 4,           
Special Tax Bonds  5.25  9/1/26  2,760,000   3,107,015 
Northern California Power Agency,           
Revenue Bonds (Hydroelectric Project           
Number 1) (Insured; AMBAC)           
(Prerefunded)  7.50  7/1/21  295,000 d  329,887 
Northern California Transmission           
Agency,           
Revenue Bonds (California-Oregon           
Transmission Project)  5.00  5/1/38  1,565,000   1,794,899 
Northern California Transmission           
Agency,           
Revenue Bonds (California-Oregon           
Transmission Project)  5.00  5/1/39  1,500,000   1,718,130 
Norwalk-La Mirada Unified School           
District,           
GO (Insured; Assured Guaranty Corp.)  0.00  8/1/38  5,645,000 b  2,476,744 
Oakland Redevelopment Successor           
Agency,           
Subordinated Tax Allocation Revenue           
Bonds (Insured; Assured Guaranty           
Municipal Corp.)  5.00  9/1/36  3,000,000   3,408,150 
Oakland Unified School District,           
GO  5.00  8/1/40  3,500,000   3,977,995 
Orange County Community Facilities           
District,           
Special Tax Revenue Bonds (Escencia           
Village Improvement Area #1)  5.00  8/15/42  3,000,000   3,343,110 
Orange County Community Facilities           
District,           
Special Tax Revenue Bonds (Escencia           
Village Improvement Area #1)  5.00  8/15/47  1,000,000   1,109,960 
Orange County Community Facilities           
District Number 2016-1,           
Special Tax Revenue Bonds (Village of           
Escencia)  5.00  8/15/41  6,000,000   6,571,440 
Palomar Community College District,           
GO  0/6.38  8/1/45  16,615,000 a  13,070,522 

 

 

STATEMENT OF INVESTMENTS (Unaudited) (continued)

  Coupon  Maturity  Principal   
Description  Rate (%)  Date  Amount ($)  Value ($) 
Long-Term Municipal Investments - 100.1% (continued)     
California - 99.4% (continued)         
Palomar Health,         
Revenue Bonds  5.00  11/1/26  1,845,000  2,087,322 
Palomar Health,         
Revenue Bonds, Refunding (Palomar         
Health and Arch Health Partners)  5.00  11/1/42  5,000,000  5,431,850 
Peralta Community College District,         
GO (Dedicated Unlimited Ad Valorem         
Property Tax Bonds)  4.00  8/1/39  5,000,000  5,217,600 
Pomona Redevelopment Agency,         
Tax Allocation Revenue Bonds (West         
Holt Avenue Redevelopment Project)  5.50  5/1/32  3,000,000  3,657,390 
Pomona Unified School District,         
GO (Insured; Build America Mutual         
Assurance Company)  5.00  8/1/39  2,000,000  2,228,700 
Sacramento County,         
Airport System Revenue Bonds,         
Refunding, Ser. B  5.00  7/1/35  1,000,000  1,174,600 
Sacramento County,         
Airport System Revenue Bonds,         
Refunding, Ser. B  5.00  7/1/36  1,375,000  1,609,946 
Sacramento County,         
Airport System Senior Revenue Bonds  5.00  7/1/41  3,250,000  3,695,217 
Sacramento County Sanitation Districts         
Financing Authority,         
Revenue Bonds (Sacramento Regional         
County Sanitation District)  5.00  12/1/26  7,000,000  7,731,780 
Sacramento County Water Financing         
Authority,         
Revenue Bonds (Sacramento County         
Water Agency Zones 40 and 41 Water         
System Project) (Insured; National         
Public Finance Guarantee Corp.)  5.00  6/1/25  5,000,000  5,116,000 
Sacramento Municipal Utility District,         
Electric Revenue Bonds  5.00  8/15/28  1,845,000  2,010,220 
San Diego Association of Governments,         
South Bay Expressway Toll Revenue         
Bonds, Refunding  5.00  7/1/42  6,000,000  6,888,780 
San Diego Association of Governments,         
South Bay Expressway Toll Revenue         
Bonds, Refunding  5.00  7/1/38  2,000,000  2,307,960 
San Diego County Regional Airport         
Authority,         
Revenue Bonds, Refunding  5.00  7/1/42  3,000,000  3,429,420 
San Diego County Regional Airport         
Authority,         
Subordinate Airport Revenue  5.00  7/1/34  3,000,000  3,168,480 
San Diego County Regional         
Transportation Commission,         
Sales Tax Revenue Bonds  5.00  4/1/44  10,000,000  11,237,300 

 

 

  Coupon  Maturity  Principal    
Description  Rate (%)  Date  Amount ($)   Value ($) 
Long-Term Municipal Investments - 100.1% (continued)       
California - 99.4% (continued)           
San Francisco City & County Commission           
International Airport,           
Revenue Bonds, Refunding  5.00  5/1/47  10,000,000   11,375,400 
San Francisco City and County Airport           
Commission,           
Second Series Revenue Bonds (San           
Francisco International Airport)  5.00  5/1/29  2,000,000   2,208,200 
San Francisco City and County Airport           
Commission,           
Second Series Revenue Bonds (San           
Francisco International Airport)  5.00  5/1/28  2,000,000   2,211,940 
San Francisco City and County Airport           
Commission,           
Second Series Revenue Bonds (San           
Francisco International Airport)  5.00  5/1/32  1,000,000   1,142,470 
San Francisco City and County Airport           
Commission,           
Second Series Revenue Bonds (San           
Francisco International Airport)  5.00  5/1/29  1,000,000   1,161,080 
San Francisco City and County Public           
Utilities Commission,           
San Francisco Water Revenue Bonds  5.00  11/1/37  10,000,000   10,985,400 
San Francisco City and County           
Redevelopment Agency Community           
Facilities District Number 6,           
Special Tax Revenue Bonds (Mission           
Bay South Public Improvements)  0.00  8/1/21  500,000 b  426,535 
San Joaquin Hills Transportation Corridor           
Agency,           
Senior Lien Toll Road Revenue Bonds  5.00  1/15/50  5,000,000   5,430,100 
San Jose Airport,           
Revenue Bonds  5.00  3/1/42  2,550,000   2,901,033 
Santa Margarita Water District           
Community Facilities District Number           
2013-1,           
Special Tax Revenue Bonds (Village of           
Sendero)  5.63  9/1/43  7,000,000   7,602,070 
Santa Margarita Water District           
Community Facilities District Number           
99-1,           
Special Tax Revenue Bonds (Talega)  5.00  9/1/27  1,945,000   2,166,944 
South Orange County Public Financing           
Authority,           
Special Tax Senior Lien Revenue Bonds           
(Ladera Ranch)  5.00  8/15/29  1,500,000   1,628,295 
South Orange County Public Financing           
Authority,           
Special Tax Senior Lien Revenue Bonds           
(Ladera Ranch)  5.00  8/15/30  1,000,000   1,082,250 

 

 

STATEMENT OF INVESTMENTS (Unaudited) (continued)

  Coupon  Maturity  Principal   
Description  Rate (%)  Date  Amount ($)  Value ($) 
Long-Term Municipal Investments - 100.1% (continued)     
California - 99.4% (continued)         
Southern California Public Power         
Authority,         
Revenue Bonds (Linden Wind Energy         
Project)  5.00  7/1/29  2,230,000  2,362,261 
Southern California Public Power         
Authority,         
Revenue Bonds (Linden Wind Energy         
Project)  5.00  7/1/28  3,145,000  3,335,052 
Southern California Public Power         
Authority,         
Revenue Bonds (Milford Wind Corridor         
Phase I Project)  5.00  7/1/29  11,865,000  12,352,296 
Southern California Public Power         
Authority,         
Revenue Bonds (Windy Point/Windy         
Flats Project)  5.00  7/1/27  11,765,000  12,499,960 
Stockton Unified School District,         
GO (Insured; Assured Guaranty         
Municipal Corp.)  5.00  7/1/25  1,620,000  1,795,414 
Stockton Unified School District,         
GO (Insured; Assured Guaranty         
Municipal Corp.)  5.00  7/1/26  1,115,000  1,234,428 
Stockton Unified School District,         
GO (Insured; Assured Guaranty         
Municipal Corp.)  5.00  8/1/38  2,500,000  2,781,575 
Successor Agency to the Redevelopment         
Agency of the City and County of San         
Francisco,         
Tax Allocation Revenue Bonds (Mission         
Bay North Redevelopment Project)  5.00  8/1/36  1,555,000  1,772,389 
Successor Agency to the Redevelopment         
Agency of the City and County of San         
Francisco,         
Tax Allocation Revenue Bonds (Mission         
Bay South Redevelopment Project)         
(Insured; National Public Finance         
Guarantee Corp.)  5.00  8/1/41  1,750,000  1,978,883 
Successor Agency to the Redevelopment         
Agency of the City and County of San         
Francisco,         
Tax Allocation Revenue Bonds (Mission         
Bay South Redevelopment Project)         
(Insured; National Public Finance         
Guarantee Corp.)  5.00  8/1/43  1,100,000  1,241,405 
Successor Agency to the Redevelopment         
Agency of the City of Pittsburg,         
Subordinate Tax Allocation Revenue         
Bonds (Los Medanos Community         
Development Project) (Insured;         
Assured Guaranty Municipal Corp.)  5.00  9/1/28  3,000,000  3,478,830 

 

 

  Coupon  Maturity  Principal    
Description  Rate (%)  Date  Amount ($)   Value ($) 
Long-Term Municipal Investments - 100.1% (continued)       
California - 99.4% (continued)           
Tender Option Bond Trust Receipts           
(Series 2016-XM0375), 6/1/39,           
(Riverside County Transportation           
Commission, Sales Tax Revenue Bonds)           
Non-recourse  5.25  6/1/21  6,750,000 c,e  7,938,420 
Tender Option Bond Trust Receipts           
(Series 2016-XM0379), 7/1/43,           
(Los Angeles Department of Water and           
Power, Water System Revenue Bonds)           
Non-recourse  5.00  7/1/20  12,750,000 c,e  13,922,362 
Tobacco Securitization Authority,           
North Tobacco Settlement Revenue           
Bonds (Capital Appreciation-2nd Sub-           
Asset Backed C)  0.00  6/1/45  66,760,000 b  8,133,371 
Tobacco Securitization Authority,           
Revenue Bonds , Refunding  0.00  6/1/46  45,000,000 b  7,936,650 
Tobacco Securitization Authority of           
Southern California,           
Tobacco Settlement Asset-Backed           
Bonds (San Diego County Tobacco           
Asset Securitization Corporation)  4.75  6/1/25  595,000   597,517 
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   8,887,436 
Torrance,           
Revenue Bonds (Torrance Memorial           
Medical Center)  5.00  9/1/40  3,000,000   3,131,550 
Turlock Irrigation District,           
First Priority Subordinated Revenue  5.00  1/1/36  4,415,000 d  5,057,338 
Turlock Irrigation District,           
Revenue Bonds  5.00  1/1/26  25,000   26,090 
University of California,           
Systemwide Revenue Bonds  5.00  11/1/38  5,000,000   5,810,950 
University of California Regents,           
General Revenue Bonds  5.25  5/15/30  3,000,000   3,492,360 
University of California Regents,           
Limited Project Revenue Bonds  5.00  5/15/42  10,000,000   10,976,800 
University of California Regents,           
Medical Center Pooled Revenue Bonds  4.00  5/15/44  3,000,000   3,075,840 
University of California Regents,           
Medical Center Pooled Revenue Bonds  5.00  5/15/43  10,000,000   11,012,000 
Upland,           
COP, Refunding (San Antonio Regional           
Hospital)  5.00  1/1/47  3,000,000   3,285,150 
Walnut Energy Center Authority,           
Revenue Bonds  5.00  1/1/27  3,150,000   3,635,005 

 

 

STATEMENT OF INVESTMENTS (Unaudited) (continued)

  Coupon  Maturity  Principal      
Description  Rate (%)  Date  Amount ($)   Value ($)  
Long-Term Municipal Investments - 100.1% (continued)         
California - 99.4% (continued)             
Wiseburn School District,             
GO  0.00  8/1/37  6,400,000 b  3,077,824  
          901,789,611  
U.S. Related - .7%             
Puerto Rico Highway & Transportation             
Authority,             
Highway Revenue Bonds, Refunding             
(Insured; Assured Guaranty Municipal             
Corporation) Series 2007 CC  5.25  7/1/34  5,905,000   6,989,689  
Total Investments (cost $870,806,844)      100.1 %  908,779,300  
Liabilities, Less Cash and Receivables      (0.1 %)  (1,305,922 ) 
Net Assets      100.0 %  907,473,378  

 

a Zero coupon until a specified date at which time the stated coupon rate becomes effective until maturity. 
b Security issued with a zero coupon. Income is recognized through the accretion of discount. 
c Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in 
transactions exempt from registration, normally to qualified institutional buyers. At August 31, 2018, these securities were valued 
at $54,571,293 or 6.01% of net assets. 
d These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized by 
U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire 
the bonds in full at the earliest refunding date. 
e Collateral for floating rate borrowings. 

 

 

STATEMENT OF INVESTMENTS
Dreyfus California AMT-Free Municipal Bond Fund
August 31, 2018 (Unaudited)

The following is a summary of the inputs used as of August 31, 2018 in valuing the fund’s investments:

    Level 2 - Other   Level 3 -     
  Level 1 -  Significant   Significant     
  Unadjusted  Observable   Unobservable     
  Quoted Prices  Inputs   Inputs  Total  
Assets ($)             
Investments in Securities:             
Municipal Bonds†  -  908,779,300   -  908,779,300  
Liabilities ($)             
Floating Rate Notes††  -  (12,750,000 )  -  (12,750,000 ) 

 

†  See Statement of Investments for additional detailed categorizations. 
††  Certain of the fund’s liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. 

 

 

NOTES

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 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.

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 fund's Board Members (the “Board”). 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

 

NOTES

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 of the preceding securities are generally categorized within Level 2 of the fair value hierarchy.

The Service is engaged under the general supervision of the Board.

When market quotations or official closing prices are not readily available, or are determined not to accurately reflect 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, 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. 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 within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

For restricted securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.

Inverse Floater Securities: The fund participates in secondary inverse floater structures in which fixed-rate, tax-exempt municipal bonds are transferred to a trust (the “Inverse Floater Trust”). The Inverse Floater Trust typically issues two variable rate securities that are collateralized by the cash flows of the fixed-rate, tax-exempt municipal bonds. One of these variable rate securities pays interest based on a short-term floating rate set by a remarketing agent at predetermined intervals (“Trust Certificates”). A residual interest tax-exempt security is also created by the Inverse Floater Trust, which is transferred to the fund, and is paid interest based on the remaining cash flows of the Inverse Floater Trust, after payment of interest on the other securities and various expenses of the Inverse Floater Trust. An Inverse Floater Trust may be collapsed without the consent of the fund due to certain termination events such as bankruptcy, default or other credit event.

The fund accounts for the transfer of bonds to the Inverse Floater Trust as secured borrowings, with the securities transferred remaining in the fund’s investments, and the Trust Certificates reflected as fund liabilities in the Statement of Assets and Liabilities.

The fund may invest in inverse floater securities on either a non-recourse or recourse basis. These securities are typically supported by a liquidity facility provided by a bank or other financial institution (the “Liquidity Provider”) that allows the holders of the Trust Certificates to tender their certificates in exchange for payment from the Liquidity Provider of par plus accrued interest on any business day prior to a termination event. When the fund invests in inverse floater securities on a non-recourse basis, the Liquidity

 

NOTES

Provider is required to make a payment under the liquidity facility due to a termination event to the holders of the Trust Certificates. When this occurs, the Liquidity Provider typically liquidates all or a portion of the municipal securities held in the Inverse Floater Trust. A liquidation shortfall occurs if the Trust Certificates exceed the proceeds of the sale of the bonds in the Inverse Floater Trust (“Liquidation Shortfall”). When a fund invests in inverse floater securities on a recourse basis, the fund typically enters into a reimbursement agreement with the Liquidity Provider where the fund is required to repay the Liquidity Provider the amount of any Liquidation Shortfall. As a result, a fund investing in a recourse inverse floater security bears the risk of loss with respect to any Liquidation Shortfall.

At August 31, 2018, accumulated net unrealized appreciation on investments was $37,972,456, consisting of $41,744,114 gross unrealized appreciation and $3,771,658 gross unrealized depreciation.

At August 31, 2018, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Statement of Investments).

Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the SEC 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.

 

FORM N-Q

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:    October 19, 2018

 

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:    October 19, 2018

 

By:       /s/ James Windels

            James Windels

            Treasurer

 

Date:    October 19, 2018

 

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)