N-Q 1 formnq-021.htm FORM N-Q formnq-021.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

811-4765

 

 

 

Dreyfus New York AMT-Free Municipal Bond Fund

 

 

(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:

 

11/30

 

Date of reporting period:

2/28/13

 

             

 

 

 

 

FORM N-Q

Item 1.                        Schedule of Investments.

 

 

STATEMENT OF INVESTMENTS         
Dreyfus New York AMT-Free Municipal Bond Fund         
February 28, 2013 (Unaudited)           
 
Long-Term Municipal  Coupon  Maturity  Principal    
Investments--96.5%  Rate (%)  Date  Amount ($)   Value ($) 
New York--86.5%           
Albany Industrial Development           
Agency, Civic Facility Revenue           
(Saint Peter's Hospital of the           
City of Albany Project)  5.25  11/15/27  4,500,000   5,028,840 
Albany Industrial Development           
Agency, Civic Facility Revenue           
(Saint Peter's Hospital of the           
City of Albany Project)  5.25  11/15/32  1,000,000   1,092,880 
Hempstead Local Development           
Corporation, Revenue (Molloy           
College Project)  5.70  7/1/29  4,865,000   5,611,242 
Hudson Yards Infrastructure           
Corporation, Hudson Yards           
Senior Revenue  5.75  2/15/47  2,500,000   2,980,275 
JPMorgan Chase Putters/Drivers           
Trust (New York State           
Dormitory Authority, Revenue           
(The Rockefeller University))  5.00  7/1/18  4,000,000 a,b  4,575,920 
Long Island Power Authority,           
Electric System General Revenue  6.00  5/1/33  3,000,000   3,660,390 
Long Island Power Authority,           
Electric System General           
Revenue (Insured; National           
Public Finance Guarantee Corp.)  5.00  12/1/19  2,375,000   2,651,189 
Metropolitan Transportation           
Authority, Dedicated Tax Fund           
Revenue  5.00  11/15/23  7,500,000   9,383,250 
Metropolitan Transportation           
Authority, Transportation           
Revenue  5.00  11/15/23  4,000,000   4,859,480 
Metropolitan Transportation           
Authority, Transportation           
Revenue  5.00  11/15/25  1,000,000   1,149,790 
Metropolitan Transportation           
Authority, Transportation           
Revenue  6.50  11/15/28  1,000,000   1,274,110 
Metropolitan Transportation           
Authority, Transportation           
Revenue  5.00  11/15/31  3,000,000   3,348,240 
Metropolitan Transportation           
Authority, Transportation           
Revenue  5.00  11/15/32  5,000,000   5,766,400 
Metropolitan Transportation           
Authority, Transportation           
Revenue  5.00  11/15/34  3,000,000   3,378,420 
Metropolitan Transportation           
Authority, Transportation           

 


Revenue  5.00  11/15/42  2,000,000   2,246,020 
Monroe County Industrial           
Development Corporation,           
Revenue (University of           
Rochester Project)  5.00  7/1/25  2,420,000   2,896,062 
Nassau County Local Economic           
Assistance Corporation,           
Revenue (Winthrop-University           
Hospital Association Project)  5.00  7/1/42  1,000,000   1,074,430 
New York City,           
GO  5.00  8/1/19  5,000,000   6,134,350 
New York City,           
GO  5.00  4/1/20  5,000,000   6,155,300 
New York City,           
GO  5.38  12/1/20  5,000   5,022 
New York City,           
GO  5.00  8/1/21  2,000,000   2,212,240 
New York City,           
GO  5.00  8/1/22  1,200,000   1,325,808 
New York City,           
GO  5.50  6/1/23  25,000   25,322 
New York City,           
GO  5.00  8/1/23  3,000,000   3,650,430 
New York City,           
GO  5.00  8/1/26  3,565,000   4,172,868 
New York City,           
GO  5.00  8/1/28  4,000,000   4,762,800 
New York City,           
GO  5.00  8/1/29  5,000,000   5,891,350 
New York City,           
GO  5.00  10/1/32  730,000   850,961 
New York City,           
GO  5.00  10/1/36  2,000,000   2,301,740 
New York City,           
GO (Prerefunded)  5.50  6/1/13  125,000 c  126,738 
New York City Educational           
Construction Fund, Revenue  6.50  4/1/25  3,960,000   5,233,021 
New York City Housing Development           
Corporation, Capital Fund           
Program Revenue (New York City           
Housing Authority Program)           
(Insured; National Public           
Finance Guarantee Corp.)  5.00  7/1/25  3,465,000   3,762,193 
New York City Industrial           
Development Agency, PILOT           
Revenue (Yankee Stadium           
Project) (Insured; Assured           
Guaranty Municipal Corp.)  7.00  3/1/49  5,000,000   6,196,650 
New York City Municipal Water           
Finance Authority, Water and           
Sewer System Revenue  5.00  6/15/22  410,000   435,416 
New York City Municipal Water           
Finance Authority, Water and           
Sewer System Revenue           

 


(Prerefunded)  5.00  6/15/14  120,000 c  127,470 
New York City Municipal Water           
Finance Authority, Water and           
Sewer System Second General           
Resolution Revenue  5.00  6/15/31  3,000,000   3,489,720 
New York City Municipal Water           
Finance Authority, Water and           
Sewer System Second General           
Resolution Revenue  5.25  6/15/40  2,975,000   3,468,077 
New York City Municipal Water           
Finance Authority, Water and           
Sewer System Second General           
Resolution Revenue  5.50  6/15/40  2,500,000   2,964,325 
New York City Municipal Water           
Finance Authority, Water and           
Sewer System Second General           
Resolution Revenue  5.00  6/15/45  4,000,000   4,520,240 
New York City Transitional Finance           
Authority, Future Tax Secured           
Revenue  5.00  11/1/22  4,000,000   4,485,320 
New York City Transitional Finance           
Authority, Future Tax Secured           
Revenue  5.00  11/1/25  3,565,000   3,969,200 
New York City Transitional Finance           
Authority, Future Tax Secured           
Revenue  5.00  11/1/28  2,695,000   2,983,419 
New York City Transitional Finance           
Authority, Future Tax Secured           
Subordinate Revenue  5.00  2/1/19  3,000,000   3,661,230 
New York City Transitional Finance           
Authority, Future Tax Secured           
Subordinate Revenue  5.00  11/1/18  6,000,000   7,338,240 
New York City Transitional Finance           
Authority, Future Tax Secured           
Subordinate Revenue  5.00  11/1/38  3,000,000   3,461,370 
New York Liberty Development           
Corporation, Liberty Revenue           
(4 World Trade Center Project)  5.00  11/15/44  2,500,000   2,800,350 
New York Liberty Development           
Corporation, Liberty Revenue           
(7 World Trade Center Project)  5.00  9/15/40  2,000,000   2,281,660 
New York State Dormitory           
Authority, Catholic Health           
Services of Long Island           
Obligated Group Revenue (Saint           
Francis Hospital Project)  5.00  7/1/21  5,000,000   5,156,700 
New York State Dormitory           
Authority, FHA-Insured           
Mortgage Hospital Revenue           
(Hospital for Special Surgery)  6.00  8/15/38  3,470,000   4,194,154 
New York State Dormitory           
Authority, FHA-Insured           
Mortgage Hospital Revenue (The           
New York and Presbyterian           
Hospital) (Insured; Assured           
Guaranty Municipal Corp.)           

 


(Prerefunded)  5.25  8/15/14  2,465,000 c  2,643,269 
New York State Dormitory           
Authority, Health Center           
Revenue (Guaranteed; SONYMA)  5.00  11/15/19  1,000,000   1,004,140 
New York State Dormitory           
Authority, Revenue           
(Consolidated City University           
System)  5.63  7/1/16  6,480,000   7,234,596 
New York State Dormitory           
Authority, Revenue           
(Consolidated City University           
System)  5.75  7/1/18  2,500,000   2,821,875 
New York State Dormitory           
Authority, Revenue           
(Consolidated City University           
System) (Insured; Assured           
Guaranty Municipal Corp.)  5.75  7/1/18  2,290,000   2,584,838 
New York State Dormitory           
Authority, Revenue (Cornell           
University)  5.00  7/1/24  4,500,000   5,102,955 
New York State Dormitory           
Authority, Revenue (Cornell           
University)  5.00  7/1/35  1,500,000   1,683,255 
New York State Dormitory           
Authority, Revenue (Cornell           
University)  5.00  7/1/35  2,000,000   2,339,980 
New York State Dormitory           
Authority, Revenue (Fordham           
University) (Insured; Assured           
Guaranty Municipal Corp.)  5.00  7/1/33  2,000,000   2,264,220 
New York State Dormitory           
Authority, Revenue (Memorial           
Sloan-Kettering Cancer Center)  5.00  7/1/23  1,350,000   1,662,539 
New York State Dormitory           
Authority, Revenue (Mount           
Sinai Hospital Obligated Group)  5.00  7/1/26  2,000,000   2,280,840 
New York State Dormitory           
Authority, Revenue (Mount           
Sinai School of Medicine of           
New York University)  5.50  7/1/25  2,320,000   2,679,391 
New York State Dormitory           
Authority, Revenue (New York           
State Department of Health)  5.00  7/1/15  3,885,000   4,129,561 
New York State Dormitory           
Authority, Revenue (New York           
University)  5.00  7/1/34  2,000,000   2,310,260 
New York State Dormitory           
Authority, Revenue (New York           
University) (Insured; AMBAC)  5.00  7/1/32  3,345,000   3,765,433 
New York State Dormitory           
Authority, Revenue (New York           
University Hospitals Center)  5.25  7/1/24  2,000,000   2,212,740 
New York State Dormitory           
Authority, Revenue (New York           
University Hospitals Center)  5.50  7/1/25  2,500,000   2,978,850 

 


New York State Dormitory           
Authority, Revenue (New York           
University Hospitals Center)  5.00  7/1/26  2,500,000   2,711,900 
New York State Dormitory           
Authority, Revenue (North           
Shore - Long Island Jewish           
Obligated Group)  5.00  5/1/25  5,515,000   5,980,190 
New York State Dormitory           
Authority, Revenue (North           
Shore - Long Island Jewish           
Obligated Group)  5.50  5/1/37  2,000,000   2,284,080 
New York State Dormitory           
Authority, Revenue (Orange           
Regional Medical Center           
Obligated Group)  6.13  12/1/29  1,500,000   1,674,225 
New York State Dormitory           
Authority, Revenue (Orange           
Regional Medical Center           
Obligated Group)  6.25  12/1/37  1,500,000   1,660,170 
New York State Dormitory           
Authority, Revenue (Rochester           
Institute of Technology)  5.00  7/1/23  2,000,000   2,463,840 
New York State Dormitory           
Authority, Revenue (Rochester           
Institute of Technology)           
(Prerefunded)  6.00  7/1/18  5,250,000 c  6,615,105 
New York State Dormitory           
Authority, Revenue (State           
University Educational           
Facilities)  5.88  5/15/17  4,060,000   4,746,343 
New York State Dormitory           
Authority, Revenue (Teachers           
College)  5.00  3/1/24  2,500,000   2,861,225 
New York State Dormitory           
Authority, Revenue (Teachers           
College)  5.38  3/1/29  2,000,000   2,277,640 
New York State Dormitory           
Authority, Revenue (The           
Bronx-Lebanon Hospital Center)           
(LOC; TD Bank)  6.50  8/15/30  2,000,000   2,415,420 
New York State Dormitory           
Authority, Revenue (The New           
School)  5.25  7/1/30  2,500,000   2,835,475 
New York State Dormitory           
Authority, Revenue (The           
Rockefeller University)  5.00  7/1/40  4,000,000   4,501,760 
New York State Dormitory           
Authority, South Nassau           
Communities HR (Winthrop South           
Nassau University Health           
System Obligated Group)           
(Prerefunded)  5.50  7/1/13  3,475,000 c  3,538,662 
New York State Dormitory           
Authority, State Personal           
Income Tax Revenue (Education)  5.00  3/15/19  5,500,000   6,320,435 
New York State Dormitory           

 


Authority, State Personal         
Income Tax Revenue (General         
Purpose)  5.25  2/15/22  2,500,000  3,042,775 
New York State Dormitory         
Authority, State Personal         
Income Tax Revenue (General         
Purpose)  5.00  2/15/26  1,730,000  2,092,193 
New York State Dormitory         
Authority, Third General         
Resolution Revenue (State         
University Educational         
Facilities Issue)  5.00  5/15/30  2,000,000  2,372,040 
New York State Energy Research and         
Development Authority, Gas         
Facilities Revenue (The         
Brooklyn Union Gas Company         
Project)  6.37  4/1/20  5,000,000  5,011,200 
New York State Environmental         
Facilities Corporation, State         
Clean Water and Drinking Water         
Revolving Funds Revenue (New         
York City Municipal Water         
Finance Authority Projects -         
Second Resolution Bonds)  5.00  6/15/21  5,000,000  5,980,750 
New York State Environmental         
Facilities Corporation, State         
Clean Water and Drinking Water         
Revolving Funds Revenue (New         
York City Municipal Water         
Finance Authority Projects -         
Second Resolution Bonds)  5.00  6/15/29  2,470,000  2,927,419 
New York State Housing Finance         
Agency, State Personal Income         
Tax Revenue (Economic         
Development and Housing)  5.00  3/15/34  3,575,000  4,113,824 
New York State Mortgage Agency,         
Education Loan Revenue (New         
York Higher Education Loan         
Program)  5.25  11/1/20  480,000  565,027 
New York State Mortgage Agency,         
Mortgage Revenue  5.00  4/1/28  1,255,000  1,345,071 
New York State Power Authority,         
Revenue  5.00  11/15/31  1,000,000  1,187,310 
New York State Thruway Authority,         
General Revenue  5.00  1/1/42  1,500,000  1,684,935 
New York State Thruway Authority,         
General Revenue (Insured;         
National Public Finance         
Guarantee Corp.)  5.00  1/1/27  5,000,000  5,709,900 
New York State Thruway Authority,         
Second General Highway and         
Bridge Trust Fund Bonds  5.00  4/1/25  5,000,000  5,769,600 
New York State Thruway Authority,         
Second General Highway and         
Bridge Trust Fund Bonds  5.00  4/1/26  2,500,000  2,960,825 
New York State Thruway Authority,         

 


Second General Highway and           
Bridge Trust Fund Bonds  5.00  4/1/26  2,500,000   2,922,025 
New York State Thruway Authority,           
Second General Highway and           
Bridge Trust Fund Bonds  5.00  4/1/27  3,000,000   3,447,930 
New York State Thruway Authority,           
Second General Highway and           
Bridge Trust Fund Bonds           
(Insured; AMBAC)  5.00  4/1/19  7,500,000   8,411,775 
New York State Thruway Authority,           
Second General Highway and           
Bridge Trust Fund Bonds           
(Insured; AMBAC)  5.00  4/1/22  5,000,000   5,651,150 
New York State Thruway Authority,           
State Personal Income Tax           
Revenue (Transportation)  5.25  3/15/27  3,000,000   3,507,540 
New York State Urban Development           
Corporation, Correctional           
Facilities Revenue  5.50  1/1/14  635,000   663,372 
New York State Urban Development           
Corporation, Correctional           
Facilities Revenue (Insured;           
Assured Guaranty Municipal           
Corp.)  5.50  1/1/14  630,000   658,148 
New York State Urban Development           
Corporation, State Personal           
Income Tax Revenue (Economic           
Development and Housing)           
(Insured; AMBAC)  5.00  12/15/23  2,000,000   2,251,340 
New York State Urban Development           
Corporation, State Personal           
Income Tax Revenue (State           
Facilities and Equipment)           
(Insured; FGIC) (Prerefunded)  5.50  3/15/13  2,450,000 c  2,456,149 
North Country Development           
Authority, Solid Waste           
Management System Revenue           
(Insured; Assured Guaranty           
Municipal Corp.)  6.00  5/15/15  1,070,000   1,126,742 
Port Authority of New York and New           
Jersey (Consolidated Bonds,           
93rd Series)  6.13  6/1/94  1,955,000   2,417,690 
Port Authority of New York and New           
Jersey (Consolidated Bonds,           
142nd Series)  5.00  7/15/23  2,000,000   2,230,880 
Port Authority of New York and New           
Jersey (Consolidated Bonds,           
163rd Series)  5.00  7/15/35  5,000,000   5,730,500 
Port Authority of New York and New           
Jersey, Special Project Bonds           
(JFK International Air           
Terminal LLC Project)  6.00  12/1/36  2,000,000   2,375,880 
Rensselaer County Industrial           
Development Agency, Civic           
Facility Revenue (Emma Willard           
School Project)  5.00  1/1/31  2,000,000   2,186,080 

 


Schenectady Industrial Development           
Agency, Civic Facility Revenue           
(Union College Project)  5.00  7/1/25  2,260,000   2,528,691 
Schenectady Industrial Development           
Agency, Civic Facility Revenue           
(Union College Project)  5.00  7/1/26  1,380,000   1,540,177 
Suffolk County Economic           
Development Corporation,           
Revenue (Catholic Health           
Services of Long Island           
Obligated Group Project)  5.00  7/1/22  1,000,000   1,190,470 
Suffolk Tobacco Asset           
Securitization Corporation,           
Tobacco Settlement           
Asset-Backed Bonds  6.00  6/1/48  5,000,000   4,472,900 
Triborough Bridge and Tunnel           
Authority, General Purpose           
Revenue (Prerefunded)  5.50  1/1/22  2,000,000 c  2,624,280 
Triborough Bridge and Tunnel           
Authority, General Revenue           
(MTA Bridges and Tunnels)  5.00  11/15/22  4,260,000   5,374,927 
Triborough Bridge and Tunnel           
Authority, General Revenue           
(MTA Bridges and Tunnels)  5.00  11/15/27  1,640,000   1,954,240 
Triborough Bridge and Tunnel           
Authority, General Revenue           
(MTA Bridges and Tunnels)  5.00  1/1/28  2,000,000   2,383,000 
Triborough Bridge and Tunnel           
Authority, General Revenue           
(MTA Bridges and Tunnels)  5.00  11/15/31  3,265,000   3,895,047 
Triborough Bridge and Tunnel           
Authority, General Revenue           
(MTA Bridges and Tunnels)  5.00  11/15/38  1,000,000   1,166,950 
Westchester County Health Care           
Corporation, Senior Lien           
Revenue  6.00  11/1/30  1,000,000   1,204,640 
Westchester Tobacco Asset           
Securitization Corporation,           
Tobacco Settlement           
Asset-Backed Bonds  5.00  6/1/26  2,000,000   1,978,840 
Westchester Tobacco Asset           
Securitization Corporation,           
Tobacco Settlement           
Asset-Backed Bonds  5.13  6/1/45  1,200,000   1,034,196 
U.S. Related--10.0%           
Guam,           
Business Privilege Tax Revenue  5.00  1/1/42  2,000,000   2,207,940 
Guam,           
Hotel Occupancy Tax Revenue  5.25  11/1/18  1,100,000   1,255,023 
Guam,           
Hotel Occupancy Tax Revenue  5.50  11/1/19  1,000,000   1,166,020 
Guam Power Authority,           
Revenue  5.50  10/1/30  1,000,000   1,132,290 
Guam Waterworks Authority,           
Water and Wastewater System           

 


Revenue  5.63  7/1/40  1,000,000   1,059,350 
Puerto Rico Aqueduct and Sewer           
Authority, Senior Lien Revenue  6.00  7/1/38  4,000,000   4,142,560 
Puerto Rico Aqueduct and Sewer           
Authority, Senior Lien Revenue           
(Insured; Assured Guaranty           
Municipal Corp.)  5.00  7/1/28  2,000,000   2,054,060 
Puerto Rico Commonwealth,           
Public Improvement GO  5.50  7/1/39  2,500,000   2,564,975 
Puerto Rico Commonwealth,           
Public Improvement GO  6.50  7/1/40  1,000,000   1,109,480 
Puerto Rico Commonwealth,           
Public Improvement GO           
(Prerefunded)  5.25  7/1/13  1,000,000 c  1,017,430 
Puerto Rico Commonwealth,           
Public Improvement GO           
(Prerefunded)  5.25  7/1/16  3,045,000 c  3,539,691 
Puerto Rico Electric Power           
Authority, Power Revenue  5.25  7/1/27  4,000,000   4,143,800 
Puerto Rico Electric Power           
Authority, Power Revenue  5.50  7/1/38  3,000,000   3,064,410 
Puerto Rico Electric Power           
Authority, Power Revenue  5.25  7/1/40  2,000,000   2,023,540 
Puerto Rico Electric Power           
Authority, Power Revenue           
(Insured; National Public           
Finance Guarantee Corp.)  5.25  7/1/25  1,705,000   1,787,880 
Puerto Rico Sales Tax Financing           
Corporation, Sales Tax Revenue           
(First Subordinate Series)  5.38  8/1/39  2,500,000   2,649,425 
Puerto Rico Sales Tax Financing           
Corporation, Sales Tax Revenue           
(First Subordinate Series)  6.00  8/1/39  4,000,000   4,475,360 
Puerto Rico Sales Tax Financing           
Corporation, Sales Tax Revenue           
(First Subordinate Series)  6.00  8/1/42  3,000,000   3,314,550 
Virgin Islands Public Finance           
Authority, Revenue (Virgin           
Islands Matching Fund Loan           
Note)  5.00  10/1/25  2,500,000   2,792,175 
Total Long-Term Municipal Investments           
(cost $403,950,949)          439,354,221 
Short-Term Municipal  Coupon  Maturity  Principal    
Investments--2.9%  Rate (%)  Date  Amount ($)   Value ($) 
New York;           
New York City,           
GO Notes (LOC; JPMorgan Chase           
Bank)  0.11  3/1/13  300,000 d  300,000 
New York City,           
GO Notes (LOC; JPMorgan Chase           
Bank)  0.11  3/1/13  200,000 d  200,000 
New York City,           
GO Notes (LOC; JPMorgan Chase           
Bank)  0.11  3/1/13  1,300,000 d  1,300,000 

 


New York City,           
GO Notes (LOC; JPMorgan Chase           
Bank)  0.11  3/1/13  1,200,000 d  1,200,000 
New York City,           
GO Notes (LOC; JPMorgan Chase           
Bank)  0.11  3/1/13  4,100,000 d  4,100,000 
New York City,           
GO Notes (LOC; JPMorgan Chase           
Bank)  0.11  3/1/13  400,000 d  400,000 
New York City,           
GO Notes (LOC; JPMorgan Chase           
Bank)  0.11  3/1/13  300,000 d  300,000 
New York City,           
GO Notes (LOC; JPMorgan Chase           
Bank)  0.11  3/1/13  3,700,000 d  3,700,000 
New York City,           
GO Notes (LOC; JPMorgan Chase           
Bank)  0.11  3/1/13  1,700,000 d  1,700,000 
Total Short-Term Municipal Investments           
(cost $13,200,000)          13,200,000 
Total Investments (cost $417,150,949)      99.4 %  452,554,221 
Cash and Receivables (Net)      .6 %  2,939,463 
Net Assets      100.0 %  455,493,684 

 

a Collateral for floating rate borrowings. 
b Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. This security may be resold in 
transactions exempt from registration, normally to qualified institutional buyers. At February 28, 2013, this security 
was valued at $4,575,920 or 1.0% of net assets. 
c 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. 
d Variable rate demand note - rate shown is the interest rate in effect at February 28, 2013. Maturity date represents the 
next demand date, or the ultimate maturity date if earlier. 

 

At February 28, 2013, net unrealized appreciation on investments was $35,403,272 of which $36,132,665 related to appreciated investment securities and $729,393 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  -  452,554,221  -  452,554,221 

 


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.

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.

 

 

 

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 New York AMT-Free Municipal Bond Fund

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)