N-Q 1 lp1.htm FORM N-Q lp1.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       811-7512

                                                                 

Dreyfus Premier Worldwide Growth 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)

 

John Pak, Esq.

200 Park Avenue

New York, New York 10166

(Name and address of agent for service)

 

Registrant's telephone number, including area code:       (212) 922-6000

 

Date of fiscal year end:           10/31

Date of reporting period:         1/31/15

 

 


 

 

FORM N-Q

Item 1.                         Schedule of Investments.

 


 

STATEMENT OF INVESTMENTS
Dreyfus Worldwide Growth Fund
January 31, 2015 (Unaudited)

Common Stocks--99.7%  Shares   Value ($) 
Consumer Durables & Apparel--6.7%       
Christian Dior  230,000   39,852,290 
Hermes International  13,801   4,683,210 
      44,535,500 
Consumer Services--1.9%       
McDonald's  137,150   12,678,146 
Diversified Financials--3.5%       
BlackRock  32,500   11,066,575 
Eurazeo  90,482   6,355,926 
JPMorgan Chase & Co.  105,100   5,715,338 
      23,137,839 
Energy--12.1%       
Canadian Natural Resources  130,000   3,762,200 
Chevron  258,800   26,534,764 
ConocoPhillips  25,000   1,574,500 
Exxon Mobil  380,808   33,290,235 
Imperial Oil  160,000   5,937,600 
Phillips 66  5,000   351,600 
Statoil, ADR  157,468   2,645,462 
Total, ADR  125,400 a  6,459,354 
      80,555,715 
Food & Staples Retailing--2.2%       
Walgreens Boots Alliance  200,000   14,750,000 
Food, Beverage & Tobacco--26.9%       
Altria Group  262,500   13,938,750 
Anheuser-Busch InBev  25,000   3,051,474 
British American Tobacco, ADR  80,000   9,012,000 
Coca-Cola  746,200   30,721,054 
Danone, ADR  682,000   9,179,720 
Diageo, ADR  165,000   19,491,450 
Nestle, ADR  400,000   30,604,000 
PepsiCo  106,175   9,957,092 
Philip Morris International  552,500   44,332,600 
SABMiller  150,000   8,172,512 
      178,460,652 
Health Care Equipment & Services--1.3%       
Abbott Laboratories  190,300   8,517,828 
Household & Personal Products--8.1%       
L'Oreal, ADR  935,000 a  33,519,750 
Procter & Gamble  243,000   20,482,470 
      54,002,220 
Insurance--1.1%       
ACE  35,000   3,778,600 
Zurich Insurance Group  10,100 b  3,352,863 
      7,131,463 
Materials--3.2%       

 


 

Air Liquide, ADR  857,043 a  21,546,061  
Media--3.0%         
Comcast, Cl. A  144,000   7,652,880  
News Corp., Cl. A  80,350 b  1,196,412  
Twenty-First Century Fox, Cl. A  341,400   11,320,824  
      20,170,116  
Pharmaceuticals, Biotech & Life Sciences--13.6%         
AbbVie  190,300   11,484,605  
Celgene  5,000 b  595,800  
Gilead Sciences  53,000 b  5,555,990  
Johnson & Johnson  180,225   18,047,731  
Novartis, ADR  50,000 a  4,870,000  
Novo Nordisk, ADR  275,000   12,254,000  
Roche Holding, ADR  1,122,000   37,878,720  
      90,686,846  
Retailing--.4%         
LVMH Moet Hennessy Louis Vuitton  15,775   2,547,058  
Semiconductors & Semiconductor Equipment--3.2%         
ASML Holding, (New York Shares)  40,000   4,157,600  
Intel  250,941   8,291,091  
Texas Instruments  165,000   8,819,250  
      21,267,941  
Software & Services--2.4%         
International Business Machines  75,000   11,498,250  
Oracle  100,000   4,189,000  
      15,687,250  
Technology Hardware & Equipment--7.6%         
Apple  397,000   46,512,520  
QUALCOMM  65,000   4,059,900  
      50,572,420  
Transportation--2.5%         
Canadian Pacific Railway  80,000   13,973,600  
Union Pacific  22,000   2,578,620  
      16,552,220  
Total Common Stocks         
(cost $268,835,783)      662,799,275  
 
Other Investment--.3%         
Registered Investment Company;         
Dreyfus Institutional Preferred         
Plus Money Market Fund         
(cost $1,787,000)  1,787,000 c  1,787,000  
Investment of Cash Collateral for         
Securities Loaned--1.6%         
Registered Investment Company;         
Dreyfus Institutional Cash         
Advantage Fund         
(cost $10,927,926)  10,927,926 c  10,927,926  
Total Investments (cost $281,550,709)  101.6 %  675,514,201  
Liabilities, Less Cash and Receivables  (1.6 %)  (10,958,051 ) 
Net Assets  100.0 %  664,556,150  

 


 

ADR - American Depository Receipts

a  Security, or portion thereof, on loan. At January 31, 2015, the value of the fund's securities on loan was $10,586,143 
  and the value of the collateral held by the fund was $10,927,926. 
b  Non-income producing security. 
c  Investment in affiliated money market mutual fund. 

 

At January 31, 2015, net unrealized appreciation on investments was $393,963,492 of which $398,528,612 related to appreciated investment securities and $4,565,120 related to depreciated investment securities. At January 31, 2015, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.

Portfolio Summary (Unaudited) †  Value (%) 
Food, Beverage & Tobacco  26.9 
Pharmaceuticals, Biotech & Life Sciences  13.6 
Energy  12.1 
Household & Personal Products  8.1 
Technology Hardware & Equipment  7.6 
Consumer Durables & Apparel  6.7 
Diversified Financials  3.5 
Materials  3.2 
Semiconductors & Semiconductor Equipment  3.2 
Media  3.0 
Transportation  2.5 
Software & Services  2.4 
Food & Staples Retailing  2.2 
Consumer Services  1.9 
Money Market Investments  1.9 
Health Care Equipment & Services  1.3 
Insurance  1.1 
Retailing  .4 
  101.6 

 

† Based on net assets. 

 


 

The following is a summary of the inputs used as of January 31, 2014 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:           
Equity Securities - Domestic Common Stocks+  379,492,425  -   -  379,492,425 
Equity Securities - Foreign Common Stocks+  215,291,517  68,015,333 ++  -  283,306,850 
Mutual Funds  12,714,926  -   -  12,714,926 
+ See Statement of Investments for additional detailed categorizations.         
++ Securities classified within Level 2 at period end as the values were determined pursuant to the fund's   

 

fair valuation procedures.


 

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.

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 at the last sales price on the securities exchange or national securities market on which such securities are primarily traded. Securities listed on the National Market System for which market quotations are available are valued at the official closing price or, if there is no official closing price that day, at the last sales price. Securities not listed on an exchange or the national securities market, or securities for which there were no transactions, are


 

valued at the average of the most recent bid and asked prices, except for open short positions, where the asked price is used for valuation purposes. Bid price is used when no asked price is available. Registered investment companies that are not traded on an exchange are valued at their net asset value. All preceding securities are categorized as Level 1 of the fair value hierarchy.

Fair valuing of securities may be determined with the assistance of a pricing service using calculations based on indices of domestic securities and other appropriate indicators, such as prices of relevant ADRs and futures contracts. Utilizing these techniques may result in transfers between Level 1 and Level 2 of the fair value 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 fund's 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 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 of the fair value hierarchy.

Pursuant to a securities lending agreement with The Bank of New York Mellon, the fund may lend securities to qualified institutions. It is the fund’s policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral equivalent to at least 100% of the market value of securities on loan is maintained at all times. Collateral is either in the form of cash, which can be invested in certain money market mutual funds managed by the Manager or U.S. Government and Agency securities. The fund is entitled to receive all dividends, interest and distributions on securities loaned, in addition to income earned as a result of the lending transaction. Should a borrower fail to return the securities in a timely manner, The Bank of New York Mellon is required to replace the securities for the benefit of the fund and credit the fund with the market value of the unreturned securities and is subrogated to the fund’s rights against the borrower and the collateral.


 

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 Premier Worldwide Growth Fund, Inc.

By:       /s/ Bradley J. Skapyak

            Bradley J. Skapyak

            President

 

Date:    March 24, 2015

 

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:    March 24, 2015

 

By:       /s/ James Windels

            James Windels

            Treasurer

 

Date:    March 24, 2015

 

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)