lp1035.htm - Generated by SEC Publisher for SEC Filing

0000030167-18-000004.txt : 20180425 0000030167-18-000004.hdr.sgml : 20180425 20180425124903 ACCESSION NUMBER: 0000030167-18-000004 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180228 FILED AS OF DATE: 20180425 DATE AS OF CHANGE: 20180425 EFFECTIVENESS DATE: 20180425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Dreyfus Sustainable U.S. Equity Fund, Inc. CENTRAL INDEX KEY: 0000030167 IRS NUMBER: 132691318 STATE OF INCORPORATION: MD FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-02192 FILM NUMBER: 18773544 BUSINESS ADDRESS: STREET 1: THE DREYFUS CORPORATION STREET 2: 200 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10166 BUSINESS PHONE: 2129226400 MAIL ADDRESS: STREET 1: C/O DREYFUS CORP STREET 2: 200 PARK AVENUE, 7TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10166 FORMER COMPANY: FORMER CONFORMED NAME: DREYFUS THIRD CENTURY FUND, INC DATE OF NAME CHANGE: 20161220 FORMER COMPANY: FORMER CONFORMED NAME: DREYFUS THIRD CENTURY FUND INC DATE OF NAME CHANGE: 20081201 FORMER COMPANY: FORMER CONFORMED NAME: DREYFUS PREMIER THIRD CENTURY FUND INC DATE OF NAME CHANGE: 20020517

0000030167 S000000095 The Dreyfus Sustainable U.S. Equity Fund, Inc.

C000000149 Class A DTCAX

C000000151 Class C DTCCX

C000000152 Class I DRTCX

C000000154 Class Z DRTHX

C000174003 Class Y DTCYX

N-Q 1 lp1035.htm FORM N-Q lp1035.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			811-02192

	The Dreyfus Sustainable U.S. Equity 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:		02/28/18

FORM N-Q

Item 1. Schedule of Investments.

STATEMENT OF INVESTMENTS
The Dreyfus Sustainable U.S. Equity Fund, Inc.
February 28, 2018 (Unaudited)


Description	Shares		Value ($)
Common Stocks - 99.0%
Banks - 7.1%
Citigroup	191,113		14,427,120
First Republic Bank	56,664		5,258,419
Gentera	2,870,330		2,346,433
			22,031,972
Capital Goods - .8%
Acuity Brands	17,344		2,472,908
Consumer Durables & Apparel - 5.2%
Mattel	236,648		3,762,703
Newell Brands	193,737		4,977,104
PulteGroup	127,994		3,592,792
Under Armour, Cl. A	218,990	^a	3,630,854
			15,963,453
Consumer Services - 1.9%
McDonald's	37,310		5,885,279
Food & Staples Retailing - 4.3%
Costco Wholesale	30,322		5,788,470
Walgreens Boots Alliance	109,368		7,534,361
			13,322,831
Food, Beverage & Tobacco - 2.9%
Blue Buffalo Pet Products	220,761	^a	8,843,686
Health Care Equipment & Services - 7.9%
Abbott Laboratories	128,933		7,778,528
Cerner	91,144	^a	5,847,799
Medtronic	136,207		10,881,577
			24,507,904
Household & Personal Products - 8.0%
Colgate-Palmolive	132,008		9,104,592
Coty	370,710		7,162,117
Procter & Gamble	106,000		8,323,120
			24,589,829
Insurance - 4.9%
Intact Financial	121,618		9,406,629
Principal Financial Group	92,259		5,750,503
			15,157,132
Materials - 2.6%
Albemarle	81,590		8,194,084
Media - 1.0%
Thomson Reuters	76,442		3,011,050

STATEMENT OF INVESTMENTS (Unaudited) (continued)


Description	Shares		Value ($)
Common Stocks - 99.0% (continued)
Pharmaceuticals, Biotechnology & Life Sciences - 5.1%
Gilead Sciences	201,078		15,830,871
Real Estate - 1.0%
Redwood Trust	210,375	^b	3,081,994
Retailing - 5.5%
Dollar General	50,356		4,763,174
Ferguson	126,656		8,919,215
TripAdvisor	83,960	^a	3,365,117
			17,047,506
Semiconductors & Semiconductor Equipment - 7.6%
Applied Materials	278,706		16,050,679
Maxim Integrated Products	122,815		7,484,346
			23,535,025
Software & Services - 21.1%
Accenture, Cl. A	35,300		5,683,653
Alphabet, Cl. A	13,906	^a	15,351,111
Alphabet, Cl. C	3,927	^a	4,338,275
Cognizant Technology Solutions, Cl. A	105,112		8,621,286
Intuit	36,150		6,031,989
Microsoft	226,239		21,214,431
Western Union	194,988		3,864,662
			65,105,407
Technology Hardware & Equipment - 7.5%
Cisco Systems	249,170		11,157,833
Samsung SDI, GDR	225,155	^c	8,985,193
Stratasys	150,070	^a	2,735,026
Trimble	6,618	^a	251,021
			23,129,073
Transportation - 1.6%
CH Robinson Worldwide	52,527		4,903,921
Utilities - 3.0%
Eversource Energy	161,671		9,215,247
Total Common Stocks (cost $272,537,728)			305,829,172


Other Investment - 1.0%
Registered Investment Company;
Dreyfus Institutional Preferred
Government Plus Money Market Fund
(cost $3,034,749)	3,034,749	^d	3,034,749
Total Investments (cost $275,572,477)	100.0	%	308,863,921
Cash and Receivables (Net)	.0	%	110,028
Net Assets	100.0	%	308,973,949

GDR—Global Depository Receipt

^aNon-income producing security.

^bInvestment in real estate investment trust.

^cSecurity 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 February 28, 2018, these securities were valued

at $8,985,193 or 2.91% of net assets.

^dInvestment in affiliated money market mutual fund.

STATEMENT OF INVESTMENTS
The Dreyfus Sustainable U.S. Equity Fund, Inc.
February 28, 2018 (Unaudited)

The following is a summary of the inputs used as of February 28, 2018 in valuing the fund’s investments:


				Level 3 -
	Level 1 -	Level 2 - Other		Significant
	Unadjusted	Significant		Unobservable
	Quoted Prices	Observable Inputs		Inputs	Total
Assets ($)
Investments in Securities:
Equity Securities - Domestic
Common Stocks†	273,160,652	-		-	273,160,652
Equity Securities - Foreign
Common Stocks†	11,996,243	20,672,277	^††	-	32,668,520
Registered Investment Company	3,034,749	-		-	3,034,749


^†	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.

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 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. For open short positions, asked prices are used for valuation purposes. Bid price is used when no asked price is available. Registered investment companies that are not

NOTES

traded on an exchange are valued at their net asset value. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.

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. U.S. Treasury Bills are valued at the mean price between quoted bid prices and asked prices by an independent pricing service (the “Service”) approved by the Board Members (“Board”). These securities are generally categorized within Level 2 of the fair value hierarchy.

The Service’s procedures are reviewed by Dreyfus under the general supervision of the Board.

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. 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 to not 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 (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. 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 are generally categorized within Level 3 of the fair value hierarchy.

At February 28, 2018, accumulated net unrealized appreciation on investments was $33,291,444, consisting of $48,618,371 gross unrealized appreciation and $15,326,927 gross unrealized depreciation.

At February 28, 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.

The Dreyfus Sustainable U.S. Equity Fund, Inc.

By: /s/ Bradley J. Skapyak

Bradley J. Skapyak

President

Date: April 16, 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: April 16, 2018

By: /s/ James Windels

James Windels

Treasurer

Date: April 16, 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)

EX-99.CERT 2 cert302035.htm CERTIFICATION cert302035.htm - Generated by SEC Publisher for SEC Filing

SECTION 302 CERTIFICATION

I, Bradley J. Skapyak, certify that:

1. I have reviewed this report on Form N-Q of The Dreyfus Sustainable U.S. Equity Fund, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

By: /s/ Bradley J. Skapyak

Bradley J. Skapyak

President

Date: April 16, 2018

SECTION 302 CERTIFICATION

I, James Windels, certify that:

1. I have reviewed this report on Form N-Q of The Dreyfus Sustainable U.S. Equity Fund, Inc.;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

By: /s/ James Windels

James Windels

Treasurer

Date: April 16, 2018