N-Q 1 form552.htm FORM N-Q form552.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

811-7878

 

 

 

Dreyfus LifeTime Portfolios, 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)

 

 

 

 

 

Michael A. Rosenberg, Esq.

200 Park Avenue

New York, New York  10166

 

 

(Name and address of agent for service)

 

 

Registrant's telephone number, including area code: 

(212) 922-6000

 

 

Date of fiscal year end:

 

09/30

 

Date of reporting period:

06/30/10

 

 

- 1 –

 

 

FORM N-Q

Item 1.                        Schedule of Investments.

-2-

 

STATEMENT OF INVESTMENTS 
Dreyfus Lifetime Portfolios, Inc.: Growth & Income Portfolio 
June 30, 2010 (Unaudited) 

 

  Coupon  Maturity  Principal   
Bonds and Notes--39.5%  Rate (%)  Date  Amount ($)  Value ($) 
Aerospace & Defense--.1%         
Boeing,         
Sr. Unscd. Notes  4.88  2/15/20  55,000  60,675 
Agriculture--.1%         
Altria Group,         
Gtd. Notes  9.25  8/6/19  45,000  56,256 
Auto Parts & Equipment--.0%         
Johnson Controls,         
Sr. Unscd. Notes  5.50  1/15/16  25,000  27,744 
Banks--3.7%         
Bank of America,         
Gtd. Notes  3.13  6/15/12  90,000  94,034 
Bank of America,         
Sr. Unscd. Notes, Ser. L  5.65  5/1/18  55,000  56,453 
Bank of Tokyo-Mitsubishi UFJ         
Sr. Sub. Notes  7.40  6/15/11  80,000  83,762 
BB & T,         
Sub. Notes  4.75  10/1/12  85,000  89,928 
Capital One Financial,         
Sr. Unscd. Notes  7.38  5/23/14  80,000  91,555 
Citigroup,         
Gtd. Bonds  2.13  4/30/12  130,000  133,246 
Citigroup,         
Sub. Notes  5.00  9/15/14  95,000  95,108 
Citigroup,         
Sr. Unscd. Notes  5.50  4/11/13  135,000  140,423 
Credit Suisse New York,         
Sub. Notes  6.00  2/15/18  55,000  57,478 
Deutsche Bank AG London,         
Sr. Unscd. Notes  4.88  5/20/13  80,000  85,476 
Deutsche Bank Financial,         

 


Bank Gtd. Notes  5.38  3/2/15  45,000  48,403 
Goldman Sachs Group,         
Sr. Unscd. Notes  5.25  10/15/13  90,000  94,941 
Goldman Sachs Group,         
Sr. Unscd. Notes  6.60  1/15/12  55,000  58,192 
JPMorgan Chase & Co.,         
Gtd. Notes  3.13  12/1/11  225,000  232,846 
JPMorgan Chase & Co.,         
Sr. Unscd. Notes  5.38  10/1/12  40,000  43,256 
JPMorgan Chase & Co.,         
Sub. Notes  5.75  1/2/13  50,000  53,808 
JPMorgan Chase & Co.,         
Sr. Unscd. Notes  6.00  1/15/18  35,000  38,707 
KFW,         
Gov't Gtd. Notes  3.50  5/16/13  145,000  153,078 
KFW,         
Gov't Gtd. Notes  4.88  1/17/17  65,000  72,681 
Korea Development Bank,         
Sr. Unscd. Notes  8.00  1/23/14  55,000  62,656 
Landwirtschaftliche Rentenbank,         
Gov't Gtd. Bonds  5.13  2/1/17  55,000  62,387 
M&T Bank,         
Sr. Unscd. Bonds  5.38  5/24/12  55,000  58,528 
Morgan Stanley,         
Gtd. Notes  1.95  6/20/12  100,000  102,271 
Morgan Stanley,         
Sr. Unscd. Notes  5.30  3/1/13  70,000  72,839 
Oesterreichische Kontrollbank,         
Gov't Gtd. Notes  4.50  3/9/15  40,000  43,582 
US Bank,         
Sub. Notes  6.38  8/1/11  110,000  116,169 
Wachovia,         
Sub. Notes  5.63  10/15/16  25,000  27,017 
Wells Fargo & Co.,         
Sub. Notes  5.13  9/15/16  30,000  31,972 
Wells Fargo & Co.,         
Sr. Unscd. Notes  5.63  12/11/17  50,000  54,743 

 


Wells Fargo & Co.,         
Sub. Notes  6.38  8/1/11  25,000  26,162 
WestPac Banking,         
Sr. Unscd. Notes  4.88  11/19/19  40,000  41,388 
        2,423,089 
Building & Construction--.2%         
CRH America,         
Gtd. Notes  5.30  10/15/13  50,000  53,790 
CRH America,         
Gtd. Notes  6.00  9/30/16  65,000  72,557 
        126,347 
Chemicals--.5%         
Dow Chemical,         
Sr. Unscd. Notes  7.60  5/15/14  115,000  132,922 
E.I. Du Pont De Nemours,         
Sr. Unscd. Notes  5.75  3/15/19  60,000 a  69,381 
Potash of Saskatchewan,         
Sr. Unscd. Notes  7.75  5/31/11  70,000  74,079 
Rohm & Haas,         
Sr. Unscd. Notes  5.60  3/15/13  15,000  16,097 
        292,479 
Consumer Products--.1%         
Kimberly-Clark,         
Sr. Unscd. Notes  6.13  8/1/17  40,000  47,414 
Procter & Gamble,         
Sr. Unscd. Notes  4.95  8/15/14  35,000  39,263 
        86,677 
Diversified Financial Services--2.0%         
American Express,         
Sr. Unscd. Notes  7.00  3/19/18  70,000  80,860 
American Express,         
Sr. Unscd. Notes  8.13  5/20/19  55,000  68,401 
Bear Stearns,         
Sr. Unscd. Notes  5.30  10/30/15  55,000  59,517 
Bear Stearns,         
Sr. Unscd. Notes  7.25  2/1/18  30,000  35,083 
Boeing Capital,         

 


Sr. Unscd. Notes  7.38  9/27/10  100,000  101,468 
Credit Suisse USA,         
Gtd. Notes  4.88  1/15/15  75,000  80,486 
Credit Suisse USA,         
Gtd. Notes  5.50  8/16/11  125,000  130,850 
General Electric Capital,         
Gtd. Notes  2.20  6/8/12  125,000  128,359 
General Electric Capital,         
Sr. Unscd. Notes, Ser. A  4.75  9/15/14  55,000  58,415 
General Electric Capital,         
Notes  5.25  10/19/12  55,000  58,821 
General Electric Capital,         
Sr. Unscd. Notes  5.63  5/1/18  60,000  63,864 
General Electric Capital,         
Sr. Unscd. Notes, Ser. A  6.00  6/15/12  70,000  75,363 
HSBC Finance,         
Sr. Unscd. Notes  6.38  11/27/12  55,000  59,430 
Jefferies Group,         
Sr. Unscd. Notes  8.50  7/15/19  25,000  28,127 
John Deere Capital,         
Sr. Unscd. Notes  7.00  3/15/12  80,000  87,883 
Merrill Lynch & Co.,         
Sub. Notes  6.05  5/16/16  140,000  144,846 
SLM,         
Sr. Unscd. Notes, Ser. A  5.00  10/1/13  50,000  47,833 
        1,309,606 
Diversified Metals & Mining--.3%         
Barrick Gold,         
Sr. Unscd. Notes  6.95  4/1/19  30,000  36,032 
Freeport-McMoRan Copper & Gold,         
Sr. Unscd. Notes  8.38  4/1/17  85,000  93,621 
Rio Tinto Alcan,         
Sr. Unscd. Notes  5.00  6/1/15  40,000  42,597 
        172,250 
Electric Utilities--.6%         
Appalachian Power,         
Sr. Unscd. Notes, Ser. O  5.65  8/15/12  25,000  26,823 

 


Commonwealth Edison,         
First Mortgage Bonds  5.80  3/15/18  25,000  28,292 
FPL Group Capital,         
Gtd. Debs.  5.63  9/1/11  35,000  36,604 
MidAmerican Energy,         
Sr. Unscd. Notes  5.30  3/15/18  30,000  33,424 
National Grid,         
Sr. Unscd. Notes  6.30  8/1/16  50,000  56,515 
NiSource Finance,         
Gtd. Notes  5.25  9/15/17  35,000  36,098 
Public Service of Colorado,         
First Mortgage Bonds, Ser. 12  4.88  3/1/13  50,000  54,422 
Southwestern Electric Power,         
Sr. Unscd. Notes, Ser. E  5.55  1/15/17  25,000  26,794 
Union Electric,         
Sr. Scd. Bonds  6.70  2/1/19  40,000  46,576 
Virginia Electric & Power,         
Sr. Unscd. Notes  5.40  4/30/18  55,000  61,380 
        406,928 
Food & Beverages--.6%         
Anheuser-Busch,         
Gtd. Bonds  5.00  1/15/15  55,000  59,247 
Coca-Cola Enterprises,         
Sr. Unscd. Debs.  8.50  2/1/12  35,000  38,954 
ConAgra Foods,         
Sr. Unscd. Notes  6.75  9/15/11  16,000  17,007 
Diageo Capital,         
Gtd. Notes  5.75  10/23/17  45,000  50,969 
General Mills,         
Sr. Unscd. Notes  5.65  2/15/19  40,000  45,530 
Kraft Foods,         
Unscd. Notes  5.25  10/1/13  50,000  54,790 
Kraft Foods,         
Sr. Unscd. Notes  6.00  2/11/13  10,000  11,031 
Kroger,         
Gtd. Notes  6.15  1/15/20  50,000  57,865 
Pepsico,         

 


Sr. Unscd. Notes  4.50  1/15/20  55,000  58,751 
        394,144 
Foreign/Governmental--1.7%         
African Development Bank,         
Sub. Notes  6.88  10/15/15  45,000  53,664 
Asian Development Bank,         
Sr. Unscd. Notes  2.75  5/21/14  75,000  77,846 
Eksportfinans,         
Sr. Unscd. Notes  5.50  5/25/16  60,000  68,279 
European Investment Bank,         
Sr. Unscd. Bonds  5.13  5/30/17  75,000  84,830 
European Investment Bank,         
Sr. Unscd. Notes  5.25  6/15/11  105,000  109,483 
Federal Republic of Brazil,         
Sr. Unscd. Notes  7.88  3/7/15  35,000  41,650 
Inter-American Development Bank,         
Sr. Unsub. Notes  3.88  9/17/19  50,000  52,659 
Inter-American Development Bank,         
Sr. Unscd. Notes  5.13  9/13/16  55,000 a  63,034 
International Bank for         
Reconstruction & Development,         
Sr. Unscd. Notes  5.00  4/1/16  35,000  39,952 
Province of Manitoba Canada,         
Sr. Unscd. Debs., Ser. FH  4.90  12/6/16  45,000  50,711 
Province of Ontario Canada,         
Sr. Unscd. Bonds  4.00  10/7/19  30,000 a  31,036 
Province of Quebec Canada,         
Unscd. Debs.  4.88  5/5/14  45,000 a  49,671 
Republic of Chile,         
Sr. Unscd. Bonds  5.50  1/15/13  75,000  82,245 
Republic of Italy,         
Sr. Unscd. Notes  4.38  6/15/13  85,000  87,557 
Republic of Poland,         
Sr. Unscd. Bonds  5.00  10/19/15  40,000 a  42,589 
United Mexican States,         
Sr. Unscd. Notes  5.13  1/15/20  36,000  37,620 
United Mexican States,         

 


Sr. Unscd. Notes  5.63  1/15/17  20,000  22,050 
United Mexican States,         
Sr. Unscd. Notes  6.63  3/3/15  110,000 a  126,390 
        1,121,266 
Health Care--.7%         
Astrazeneca,         
Sr. Unscd. Notes  5.40  9/15/12  100,000  109,248 
Baxter International,         
Sr. Unscd. Notes  5.90  9/1/16  50,000  58,742 
Cardinal Health,         
Sr. Unscd. Bonds  4.00  6/15/15  60,000  62,400 
Coventry Health Care,         
Sr. Unscd. Notes  5.95  3/15/17  30,000  28,694 
GlaxoSmithKline Capital,         
Gtd. Bonds  5.65  5/15/18  45,000  51,575 
Johnson & Johnson,         
Sr. Unscd. Notes  5.15  7/15/18  20,000  22,733 
Pfizer,         
Sr. Unscd. Notes  6.20  3/15/19  30,000  35,714 
Wellpoint,         
Sr. Unscd. Notes  5.88  6/15/17  30,000  33,470 
Wyeth,         
Gtd. Notes  5.50  2/1/14  25,000  28,107 
        430,683 
Manufacturing--.2%         
GE Capital Trust I,         
Sub. Debs.  6.38  11/15/67  55,000 b  51,494 
General Electric,         
Sr. Unscd. Notes  5.00  2/1/13  35,000  37,555 
General Electric,         
Sr. Unscd. Notes  5.25  12/6/17  40,000  43,563 
        132,612 
Media--.5%         
Comcast Cable Communications,         
Gtd. Notes  6.75  1/30/11  80,000  82,515 
Cox Communications,         
Sr. Unscd. Notes  5.45  12/15/14  45,000  49,719 

 


News America,         
Gtd. Notes  6.90  3/1/19  30,000  35,596 
Time Warner Cable,         
Gtd. Notes  8.25  4/1/19  35,000  43,113 
Time Warner,         
Gtd. Notes  5.88  11/15/16  30,000  33,865 
Walt Disney,         
Sr. Unscd. Notes  4.70  12/1/12  75,000  81,388 
        326,196 
Office Equipment--.0%         
Xerox,         
Sr. Notes  5.63  12/15/19  30,000  31,982 
Oil & Gas--.7%         
Apache Finance Canada,         
Gtd. Bonds  4.38  5/15/15  50,000  54,346 
BP Capital Markets,         
Gtd. Notes  4.75  3/10/19  100,000  83,208 
Canadian National Resources,         
Sr. Unscd. Notes  5.90  2/1/18  35,000  39,261 
ConocoPhillips,         
Gtd. Notes  5.75  2/1/19  25,000  28,645 
Consolidated Natural Gas,         
Sr. Unscd. Notes, Ser. A  5.00  12/1/14  40,000  43,327 
Marathon Oil,         
Sr. Unscd. Notes  7.50  2/15/19  35,000  42,038 
Petrobras International Finance,         
Gtd. Notes  5.88  3/1/18  30,000  31,025 
Petroleos Mexicanos,         
Gtd. Notes  8.00  5/3/19  30,000  35,850 
Valero Energy,         
Gtd. Notes  6.13  6/15/17  50,000  53,175 
XTO Energy,         
Sr. Unscd. Notes  5.65  4/1/16  35,000  40,147 
        451,022 
Pipelines--.3%         
Enterprise Products Operating,         
Gtd. Bonds, Ser. L  6.30  9/15/17  90,000  100,823 

 


Kinder Morgan Energy Partners,         
Sr. Unscd. Notes  7.13  3/15/12  85,000  91,404 
        192,227 
Property & Casualty Insurance--.4%         
ACE INA Holdings,         
Gtd. Notes  5.80  3/15/18  30,000  32,868 
American International Group,         
Sr. Unscd. Notes  5.85  1/16/18  45,000  40,444 
Berkshire Hathaway Finance,         
Gtd. Notes  5.40  5/15/18  15,000  16,687 
Hartford Financial Services Group,         
Sr. Unscd. Notes  6.00  1/15/19  35,000  35,366 
MetLife,         
Sr. Unscd. Notes  6.13  12/1/11  35,000  37,043 
Prudential Financial,         
Sr. Unscd. Notes  5.10  12/14/11  40,000  41,775 
Travelers,         
Sr. Unscd. Notes  5.90  6/2/19  40,000  44,491 
Willis North America,         
Gtd. Notes  6.20  3/28/17  15,000  15,635 
        264,309 
Real Estate--.3%         
Avalonbay Communities,         
Sr. Unscd. Notes  6.63  9/15/11  11,000  11,555 
HCP,         
Sr. Unscd. Notes  6.00  1/30/17  30,000  30,331 
Liberty Property,         
Sr. Unscd. Notes  5.50  12/15/16  20,000  20,780 
Mack-Cali Realty,         
Sr. Unscd. Notes  7.75  2/15/11  50,000  51,513 
Prologis,         
Sr. Unscd. Notes  6.88  3/15/20  40,000  37,872 
Regency Centers,         
Gtd. Notes  5.88  6/15/17  25,000  26,392 
        178,443 
Retail--.3%         
CVS Caremark,         

 


Sr. Unscd. Notes  4.88  9/15/14  30,000  32,612 
Home Depot,         
Sr. Unscd. Notes  5.40  3/1/16  50,000  55,719 
Kohl's,         
Sr. Unscd. Notes  6.30  3/1/11  20,000  20,628 
Lowe's,         
Sr. Unscd. Notes  6.10  9/15/17  45,000  53,080 
Wal-Mart Stores,         
Sr. Unscd. Notes  5.80  2/15/18  30,000  35,395 
        197,434 
State/Territory General Obligations--.1%         
Tennessee Valley Authority,         
Notes  5.50  7/18/17  60,000  69,943 
Technology--.3%         
Hewlett-Packard,         
Sr. Unscd. Notes  6.50  7/1/12  50,000  55,294 
Intuit,         
Sr. Unscd. Notes  5.75  3/15/17  35,000  38,504 
Oracle,         
Sr. Unscd. Notes  4.95  4/15/13  90,000  98,511 
        192,309 
Telecommunications--1.0%         
AT & T,         
Gtd. Notes  7.30  11/15/11  100,000 b  108,127 
AT&T,         
Sr. Unscd. Notes  5.10  9/15/14  75,000  83,280 
Cisco Systems,         
Sr. Unscd. Notes  5.50  2/22/16  60,000  69,204 
Embarq,         
Sr. Unscd. Notes  6.74  6/1/13  70,000  76,175 
Qwest,         
Sr. Unscd. Notes  7.50  10/1/14  51,000  54,506 
Rogers Communications,         
Gtd. Notes  6.80  8/15/18  30,000  35,520 
Telecom Italia Capital,         
Gtd. Notes  5.25  11/15/13  25,000  25,842 
Telefonica Emisones,         

 


Gtd. Notes  6.42  6/20/16  40,000  43,931 
Verizon Communications,         
Sr. Unscd. Notes  5.50  4/1/17  25,000  27,773 
Verizon Communications,         
Sr. Unscd. Notes  6.35  4/1/19  40,000  46,365 
Vodafone Group,         
Sr. Unscd. Notes  5.38  1/30/15  40,000  43,722 
Vodafone Group,         
Sr. Unscd. Notes  5.63  2/27/17  25,000  27,458 
        641,903 
Transportation--.1%         
CSX,         
Sr. Unscd. Notes  5.50  8/1/13  50,000  54,698 
Union Pacific,         
Sr. Unscd. Notes  6.50  4/15/12  12,000  13,049 
        67,747 
U.S. Government Agencies--4.0%         
Federal Farm Credit Banks,         
Bonds  3.88  10/7/13  135,000  146,068 
Federal Home Loan Banks,         
Bonds, Ser. 432  4.50  9/16/13  100,000  110,043 
Federal Home Loan Banks,         
Bonds  4.63  10/10/12  5,000  5,431 
Federal Home Loan Banks,         
Bonds  4.88  11/18/11  120,000  127,088 
Federal Home Loan Banks,         
Bonds, Ser. VB15  5.00  12/21/15  80,000  91,298 
Federal Home Loan Banks,         
Bonds, Ser. 467  5.25  6/18/14  60,000  68,450 
Federal Home Loan Banks,         
Bonds, Ser. 656  5.38  5/18/16  40,000  46,725 
Federal Home Loan Banks,         
Bonds, Ser. 312  5.75  5/15/12  80,000  87,512 
Federal Home Loan Mortgage Corp.,         
Notes  3.75  3/27/19  65,000 c  67,942 
Federal Home Loan Mortgage Corp.,         
Notes  4.50  7/15/13  90,000 c  99,073 

 


Federal Home Loan Mortgage Corp.,         
Notes  4.50  1/15/14  170,000 c  188,028 
Federal Home Loan Mortgage Corp.,         
Notes  4.50  1/15/15  100,000 c  111,627 
Federal Home Loan Mortgage Corp.,         
Notes  5.13  7/15/12  170,000 c  185,449 
Federal Home Loan Mortgage Corp.,         
Notes  5.25  7/18/11  145,000 c  152,330 
Federal Home Loan Mortgage Corp.,         
Notes  5.75  1/15/12  50,000 c  53,891 
Federal National Mortgage         
Association, Sr. Unscd. Notes  1.88  4/20/12  125,000 c  127,673 
Federal National Mortgage         
Association, Notes  2.00  1/9/12  220,000 c  224,544 
Federal National Mortgage         
Association, Notes  2.75  3/13/14  85,000 c  88,716 
Federal National Mortgage         
Association, Sr. Unscd. Notes  4.38  9/15/12  195,000 c  210,075 
Federal National Mortgage         
Association, Bonds  4.38  3/15/13  195,000 c  212,632 
Federal National Mortgage         
Association, Notes  4.38  10/15/15  20,000 c  22,146 
Federal National Mortgage         
Association, Notes  5.00  2/13/17  55,000 c  62,603 
Federal National Mortgage         
Association, Bonds  5.00  5/11/17  80,000 c  91,407 
        2,580,751 
U.S. Government Securities--20.7%         
U.S. Treasury Bonds:         
7.25%, 5/15/16      105,000  134,892 
8.75%, 5/15/17      40,000  56,300 
8.88%, 2/15/19      215,000  316,890 
9.00%, 11/15/18      245,000  362,638 
9.88%, 11/15/15      295,000  414,752 
11.25%, 2/15/15      65,000  92,793 
U.S. Treasury Notes:         
1.00%, 7/31/11      40,000  40,256 

 


1.13%, 1/15/12  275,000  277,653 
1.38%, 4/15/12  185,000  187,811 
1.38%, 5/15/12  240,000  243,563 
1.38%, 10/15/12  320,000  324,800 
1.75%, 3/31/14  65,000  65,909 
1.88%, 4/30/14  365,000  371,644 
2.38%, 2/28/15  255,000  262,851 
2.50%, 3/31/13  435,000  454,779 
2.75%, 2/15/19  335,000  333,796 
3.13%, 9/30/13  140,000  149,078 
3.13%, 5/15/19  335,000  342,040 
3.38%, 6/30/13  255,000  273,308 
3.38%, 11/15/19  285,000  295,220 
3.50%, 5/31/13  425,000  456,776 
3.50%, 2/15/18  140,000  149,680 
3.63%, 5/15/13  365,000  393,231 
3.63%, 8/15/19  170,000  179,788 
3.63%, 2/15/20  40,000  42,269 
3.75%, 11/15/18  120,000  129,319 
3.88%, 10/31/12  245,000  263,203 
3.88%, 2/15/13  110,000  118,843 
3.88%, 5/15/18  260,000  284,213 
4.00%, 2/15/14  305,000  334,476 
4.00%, 2/15/15  145,000  160,055 
4.00%, 8/15/18  195,000  214,515 
4.25%, 9/30/12  235,000  254,130 
4.25%, 8/15/13  220,000  241,777 
4.25%, 8/15/14  325,000  361,283 
4.25%, 11/15/14  695,000  774,110 
4.25%, 8/15/15  290,000  324,324 
4.25%, 11/15/17  140,000  157,292 
4.38%, 8/15/12  220,000  237,652 
4.50%, 11/30/11  155,000  163,913 
4.50%, 3/31/12  70,000  74,897 
4.50%, 11/15/15  170,000  193,030 
4.50%, 2/15/16  120,000  135,834 
4.50%, 5/15/17  185,000  210,495 

 


4.63%, 8/31/11  550,000  576,791 
4.63%, 10/31/11  150,000  158,391 
4.63%, 2/29/12  400,000  427,281 
4.75%, 1/31/12  680,000  725,927 
4.75%, 8/15/17  290,000  335,335 
4.88%, 7/31/11  95,000  99,583 
4.88%, 8/15/16  60,000  69,459 
5.13%, 5/15/16  145,000  169,231 
    13,418,076 
Total Bonds and Notes     
(cost $24,556,480)    25,653,098 
 
Common Stocks--45.5%  Shares  Value ($) 
Consumer Discretionary--3.8%     
Amazon.com  1,600 d  174,816 
Autoliv  1,200  57,420 
Career Education  2,700 d  62,154 
Coach  3,700  135,235 
Comcast, Cl. A  9,250  160,672 
Ford Motor  39,100 d  394,128 
Gannett  3,900  52,494 
Starbucks  3,000  72,900 
Target  8,600  422,862 
Time Warner  2,000  57,820 
TJX  6,850  287,358 
VF  4,000  284,720 
Washington Post, Cl. B  800  328,384 
    2,490,963 
Consumer Staples--4.8%     
Coca-Cola  3,400  170,408 
Colgate-Palmolive  5,200  409,552 
ConAgra Foods  5,300  123,596 
Costco Wholesale  7,600  416,708 
Dr. Pepper Snapple Group  9,700  362,683 
Estee Lauder, Cl. A  4,000  222,920 
H.J. Heinz  1,400  60,508 
Kimberly-Clark  1,000  60,630 

 


Procter & Gamble  7,684  460,886 
Wal-Mart Stores  10,607  509,878 
Walgreen  12,350  329,745 
    3,127,514 
Energy--4.8%     
Apache  5,000  420,950 
Chesapeake Energy  4,200  87,990 
Chevron  11,230  762,067 
Cimarex Energy  5,400  386,532 
ConocoPhillips  5,700  279,813 
Exxon Mobil  8,904  508,151 
Peabody Energy  2,100  82,173 
Schlumberger  3,600  199,224 
Spectra Energy  2,900  58,203 
Whiting Petroleum  800 d  62,736 
Williams  16,400  299,792 
    3,147,631 
Financial--6.9%     
Aflac  7,200  307,224 
AmeriCredit  17,600 d  320,672 
Annaly Capital Management  19,400 e  332,710 
Bank of America  11,000  158,070 
Berkshire Hathaway, Cl. B  3,450 d  274,930 
Fifth Third Bancorp  27,650  339,819 
First Horizon National  6,263 d  71,709 
Franklin Resources  3,500  301,665 
Fulton Financial  6,300  60,795 
Goldman Sachs Group  3,477  456,426 
JPMorgan Chase & Co.  20,667  756,619 
Loews  12,300  409,713 
Moody's  13,300  264,936 
State Street  5,650  191,083 
Travelers  1,300  64,025 
Wells Fargo & Co.  6,500  166,400 
    4,476,796 
Health Care--6.7%     
Abbott Laboratories  7,100  332,138 

 


Allergan  1,000  58,260 
Amgen  10,250 d  539,150 
Becton Dickinson & Co.  900  60,858 
Biogen Idec  1,700 d  80,665 
Cardinal Health  10,100  339,461 
Eli Lilly & Co.  1,800  60,300 
Gilead Sciences  11,700 d  401,076 
Hospira  7,300 d  419,385 
Humana  4,725 d  215,791 
Johnson & Johnson  14,831  875,919 
King Pharmaceuticals  35,300 d  267,927 
Medco Health Solutions  3,050 d  167,994 
Pfizer  5,451  77,731 
UnitedHealth Group  2,300  65,320 
Zimmer Holdings  7,300 d  394,565 
    4,356,540 
Industrial--4.6%     
3M  4,400  347,556 
Caterpillar  2,450  147,171 
Deere & Co.  6,300  350,784 
Emerson Electric  2,300  100,487 
General Electric  14,286  206,004 
L-3 Communications Holdings  3,100  219,604 
Northrop Grumman  1,000  54,440 
Oshkosh  9,250 d  288,230 
R.R. Donnelley & Sons  4,400  72,028 
Raytheon  6,950  336,311 
Southwest Airlines  21,850  242,754 
United Parcel Service, Cl. B  5,400  307,206 
United Technologies  5,225  339,155 
    3,011,730 
Information Technology--9.3%     
Apple  1,470 d  369,749 
CA  18,700  344,080 
Cisco Systems  5,979 d  127,412 
CommScope  4,400 d  104,588 
Corning  8,300  134,045 

 


Google, Cl. A  1,532 d  681,663 
Intel  34,950  679,778 
International Business Machines  7,150  882,882 
MasterCard, Cl. A  550  109,742 
Micron Technology  16,300 d  138,387 
Microsoft  34,002  782,386 
Motorola  62,700 d  408,804 
Oracle  9,926  213,012 
SanDisk  8,650 d  363,906 
Seagate Technology  22,800 d  297,312 
Symantec  4,200 d  58,296 
Western Digital  10,650 d  321,204 
    6,017,246 
Materials--1.7%     
Freeport-McMoRan Copper & Gold  6,700  396,171 
International Paper  14,400  325,872 
Lubrizol  4,350  349,349 
    1,071,392 
Telecommunication Services--1.5%     
AT & T  33,350  806,736 
Verizon Communications  4,901  137,326 
    944,062 
Utilities--1.4%     
Constellation Energy Group  11,100  357,975 
DPL  7,500  179,250 
DTE Energy  5,000  228,050 
Duke Energy  4,750  76,000 
Progress Energy  1,650  64,713 
    905,988 
Total Common Stocks     
(cost $32,078,108)    29,549,862 
 
  Principal   
Short-Term Investments--1.5%  Amount ($)  Value ($) 
U.S. Treasury Bills;     
0.14%, 7/22/10     
(cost $999,915)  1,000,000 f  999,929 

 


Other Investment--13.3%  Shares  Value ($) 
Registered Investment Company;     
Dreyfus Institutional Preferred     
Plus Money Market Fund     
(cost $8,660,000)  8,660,000 g  8,660,000 
 
Investment of Cash Collateral for     
Securities Loaned--.6%     
Registered Investment Company;     
Dreyfus Institutional Cash     
Advantage Fund     
(cost $389,210)  389,210 g  389,210 
 
Total Investments (cost $66,683,713)  100.4%  65,252,099 
Liabilities, Less Cash and Receivables  (.4%)  (278,951) 
Net Assets  100.0%  64,973,148 

 

a     

Security, or portion thereof, on loan. At June 30, 2010, the total market value of the fund's securities on loan is $375,226 and the total market value of the collateral held by the fund is $389,210.

b     

Variable rate security--interest rate subject to periodic change.

c     

On September 7, 2008, the Federal Housing Finance Agency ("FHFA") placed Federal National Mortgage Association and Federal Home Loan Mortgage Corporation into conservatorship with FHFA as the conservator. As such, the ("FHFA") will oversee the continuing affairs of these companies.

d     

Non-income producing security.

e     

Investment in real estate investment trust.

f     

Held by a broker as collateral for open financial futures positions.

g     

Investment in affiliated money market mutual fund.

At June 30, 2010, the aggregate cost of investment securities for income tax purposes was $66,683,713.

Net unrealized depreciation on investments was $1,431,614 of which $2,211,775 related to appreciated investment securities and $3,643,389 related to depreciated investment securities.

STATEMENT OF FINANCIAL FUTURES 
June 30, 2010 (Unaudited) 

 


    Market Value    Unrealized 
    Covered by    (Depreciation) 
  Contracts  Contracts ($)  Expiration  at 6/30/2010 ($) 
Financial Futures Long         
E-Mini MSCI EAFE  42  2,761,920  September 2010  (198,810) 
Russell 2000 Mini  119  7,232,820  September 2010  (94,903) 
        (293,713) 

 


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 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. 
The following is a summary of the inputs used as of June 30, 2010 in valuing the fund's investments: 

 

      Level 3 -   
  Level 1 -  Level 2 - Other  Significant   
  Unadjusted Quoted  Significant Observable  Unobservable   
Assets ($)  Prices  Inputs  Inputs  Total 
Investments in Securities:         
Corporate Bonds+  -  8,463,062  -  8,463,062 
Equity Securities - Domestic+  29,492,442  -  -  29,492,442 
Equity Securities - Foreign+  57,420  -  -  57,420 
Foreign Government  -  1,121,266  -  1,121,266 
Municipal Bonds  -  69,943  -  69,943 
Mutual Funds  9,049,210  -  -  9,049,210 
U.S. Government Agencies/Mortgage-Backed  -  2,580,751  -  2,580,751 
U.S. Treasury  -  14,418,005  -  14,418,005 
Liabilities ($)         
Other Financial Instruments:         
Futures++  (293,713)  -  -  (293,713) 
+ See Statement of Investments for industry classification.       
++ Amount shown represents unrealized (depreciation) at period end.       

 


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: 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. 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 portfolio calculates its net asset value, the portfolio may value these investments at fair value as determined in accordance with the procedures approved by the Board of Directors.

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 American Depository Receipts and futures contracts. For other securities that are fair valued by the Board of Directors, certain factors may be considered 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. Financial futures are valued at the last sales price. Investments denominated in foreign currencies


are translated to U.S. dollars at the prevailing rates of exchange. Debt securities, excluding short-term investments (other than U.S. Treasury Bills) and financial futures, 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 valued as determined by the Service, based on methods which include consideration of: yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. Restricted securities, as well as securities or other assets for which recent market quotations are not readily available, that are not valued by a pricing service approved by the Board of Directors, or are determined by the portfolio not to reflect accurately fair value, are valued at fair value as determined in good faith under the direction of the Board of Directors. The factors that may be considered when fair valuing a security include 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. Short-term investments, excluding U.S. Treasury Bills, are carried at amortized cost, which approximates value. Financial futures and options, which are traded on an exchange, are valued at the last sales price on the securities exchange on which such securities are primarily traded or at the last sales price on the national securities market on each business day.

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, U.S. Government and Agency securities or letters of credit. The fund is entitled to receive all income on securities loaned, in addition to


income earned as a result of the lending transaction. Although each security loaned is fully collateralized, the fund bears the risk of delay in recovery of, or loss of rights in, the securities loaned should a borrower fail to return the securities in a timely manner.

The provisions of ASC Topic 815 “Derivatives and Hedging” require qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments and disclosures about credit-risk-related contingent features in derivative agreements. The disclosure requirements distinguish between derivatives, which are accounted for as “hedges” and those that do not qualify for hedge accounting. Because investment companies value their derivatives at fair value and recognize changes in fair value through the Statement of Operations, they do not qualify for such accounting. Accordingly, even though a fund’s investments in derivatives may represent economic hedges, they are considered to be non-hedge transactions for purposes of this disclosure.

Futures Contracts: In the normal course of pursuing its investment objective, the fund is exposed to market risk, including interest rate risk as a result of changes in value of underlying financial instruments. The fund invests in financial futures contracts in order to manage its exposure to or protect against changes in the market. A futures contract represents a commitment for the future purchase or a sale of an asset at a specified date. Upon entering into such contracts, these investments require initial margin deposits with a broker, which consist of cash or cash equivalents. The amount of these deposits is determined by the exchange or Board of Trade on which the contract is traded and is subject to change. Accordingly, variation margin payments are received or made to reflect daily unrealized gains or losses which are recorded in the Statement of Operations. Futures contracts are valued daily at the last sales price established by the Board of Trade or exchange upon which they are traded. When the contracts are closed, the fund recognizes a realized gain or loss. There is minimal counterparty credit risk to the fund with futures since futures are exchange traded, and the exchange’s clearinghouse guarantees the futures against default.

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.

-3-

 

 

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 LifeTime Portfolios, Inc.

By:       /s/ Bradley J. Skapyak

            Bradley J. Skapyak

            President

 

Date:

August 23, 2010

 

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:

August 23, 2010

 

By:       /s/ James Windels

            James Windels

            Treasurer

 

Date:

August 23, 2010

 

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)

-4-