0000881773-14-000049.txt : 20140425 0000881773-14-000049.hdr.sgml : 20140425 20140425150959 ACCESSION NUMBER: 0000881773-14-000049 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140228 FILED AS OF DATE: 20140425 DATE AS OF CHANGE: 20140425 EFFECTIVENESS DATE: 20140425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DREYFUS THIRD CENTURY 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: 14785252 BUSINESS ADDRESS: STREET 1: THE DREYFUS CORPORATION STREET 2: 200 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10166 BUSINESS PHONE: 2129226883 MAIL ADDRESS: STREET 1: C/O DREYFUS CORP STREET 2: 200 PARK AVENUE, 8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10166 FORMER COMPANY: FORMER CONFORMED NAME: DREYFUS PREMIER THIRD CENTURY FUND INC DATE OF NAME CHANGE: 20020517 FORMER COMPANY: FORMER CONFORMED NAME: DREYFUS THIRD CENTURY FUND INC DATE OF NAME CHANGE: 19920703 0000030167 S000000095 DREYFUS THIRD CENTURY FUND INC C000000149 Class A DTCAX C000000151 Class C DTCCX C000000152 Class I DRTCX C000000154 Class Z DRTHX N-Q 1 nqform-3522814s.htm FORM N-Q nqform-3522814s.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

811-2192

 

 

 

The Dreyfus Third Century 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:

 

5/31

 

Date of reporting period:

2/28/14

 

             

 

 


 

 

FORM N-Q

Item 1.                         Schedule of Investments.

                      


 

STATEMENT OF INVESTMENTS       
The Dreyfus Third Century Fund, Inc.       
February 28, 2014 (Unaudited)       
 
Common Stocks--98.5%  Shares   Value ($) 
Automobiles & Components--.6%       
Thor Industries  32,850   1,839,928 
Banks--3.1%       
Comerica  111,700   5,381,706 
KeyCorp  198,450   2,613,586 
Regions Financial  153,050   1,628,452 
      9,623,744 
Capital Goods--8.3%       
3M  19,800   2,667,654 
Allegion  8,366   454,692 
Fluor  47,000   3,651,430 
General Electric  88,250   2,247,727 
Ingersoll-Rand  25,100   1,534,614 
Jacobs Engineering Group  24,400 a  1,479,860 
Lockheed Martin  9,900   1,606,770 
Masco  136,300   3,182,605 
Parker Hannifin  47,400   5,714,070 
Snap-on  32,150   3,606,265 
      26,145,687 
Commercial & Professional Services--.6%       
Tyco International  46,850   1,976,133 
Consumer Durables & Apparel--1.5%       
Hasbro  51,200   2,824,192 
Michael Kors Holdings  18,400 a  1,803,752 
      4,627,944 
Consumer Services--2.1%       
Marriott International, Cl. A  120,900   6,556,407 
Diversified Financials--4.6%       
American Express  70,400   6,426,112 
State Street  21,000   1,379,070 
T. Rowe Price Group  35,850   2,909,945 
Waddell & Reed Financial, Cl. A  54,450   3,795,165 
      14,510,292 

 



Energy--9.6%       
Bristow Group  27,000   2,095,200 
ConocoPhillips  79,450   5,283,425 
Denbury Resources  215,600   3,527,216 
Devon Energy  51,800   3,336,956 
EQT  18,000   1,841,220 
Hess  43,400   3,473,302 
Marathon Petroleum  37,450   3,145,800 
Phillips 66  23,300   1,744,238 
Pioneer Natural Resources  8,400   1,689,912 
Spectra Energy  108,750   4,054,200 
      30,191,469 
Food & Staples Retailing--2.0%       
Kroger  53,550   2,245,887 
Whole Foods Market  75,500   4,080,775 
      6,326,662 
Food, Beverage & Tobacco--3.7%       
Coca-Cola Enterprises  91,200   4,293,696 
Hershey  49,250   5,211,635 
PepsiCo  28,200   2,257,974 
      11,763,305 
Health Care Equipment & Services--4.5%       
AmerisourceBergen  54,050   3,667,292 
Becton Dickinson & Co.  31,200   3,594,864 
Edwards Lifesciences  41,250 a  2,877,600 
Laboratory Corp. of America       
  Holdings  14,350 a  1,342,299 
Patterson  68,500   2,819,460 
      14,301,515 
Household & Personal Products--.8%       
Clorox  16,850   1,470,668 
Procter & Gamble  14,000   1,101,240 
      2,571,908 
Insurance--1.8%       
Marsh & McLennan  52,900   2,547,664 
Principal Financial Group  35,100   1,591,785 
Travelers  18,600   1,559,424 
      5,698,873 

 



Materials--6.3%       
Alcoa  142,600   1,674,124 
Avery Dennison  63,950   3,185,989 
Ball  93,000   5,167,080 
Ecolab  14,300   1,540,825 
International Flavors & Fragrances  53,650   5,031,833 
Sigma-Aldrich  33,950   3,205,220 
      19,805,071 
Media--3.9%       
Discovery Communications, Cl. A  55,250 a  4,603,430 
Scripps Networks Interactive, Cl.       
  A  60,150   4,886,586 
Time Warner Cable  20,300   2,849,105 
      12,339,121 
Pharmaceuticals, Biotech & Life Sciences--9.2%       
Agilent Technologies  97,700   5,562,061 
Allergan  13,050   1,657,350 
AstraZeneca, ADR  32,725   2,217,446 
Biogen Idec  10,950 a  3,730,446 
Bristol-Myers Squibb  16,750   900,647 
Eli Lilly & Co.  49,600   2,956,656 
Gilead Sciences  20,700 a  1,713,753 
Merck & Co.  61,550   3,507,735 
Novartis, ADR  26,525   2,206,350 
Waters  40,500 a  4,511,700 
      28,964,144 
Retailing--4.3%       
Bed Bath & Beyond  13,650 a  925,743 
Gap  148,000   6,475,000 
Nordstrom  28,950   1,779,846 
O'Reilly Automotive  8,850 a  1,335,023 
PetSmart  20,000   1,341,200 
The TJX Companies  26,700   1,640,982 
      13,497,794 
Semiconductors & Semiconductor Equipment--3.7%       
Applied Materials  340,150   6,449,244 
Intel  147,600   3,654,576 
Lam Research  29,300 a  1,515,689 

 



      11,619,509 
Software & Services--11.7%       
Accenture, Cl. A  21,200   1,767,020 
CA  79,250   2,654,875 
Google, Cl. A  1,400 a  1,701,910 
International Business Machines  32,200   5,962,474 
Intuit  55,050   4,302,158 
Microsoft  216,800   8,305,608 
Oracle  130,925   5,120,477 
Symantec  192,700   4,139,196 
Xerox  272,900   2,999,171 
      36,952,889 
Technology Hardware & Equipment--11.0%       
Apple  16,725   8,801,364 
Cisco Systems  222,875   4,858,675 
EMC  172,175   4,540,255 
Hewlett-Packard  115,200   3,442,176 
Jabil Circuit  206,000   3,813,060 
Motorola Solutions  62,650   4,147,430 
QUALCOMM  21,300   1,603,677 
Seagate Technology  34,900   1,821,431 
TE Connectivity  30,150   1,766,187 
      34,794,255 
Telecommunication Services--1.9%       
AT&T  85,350   2,725,225 
Verizon Communications  64,800   3,083,184 
      5,808,409 
Transportation--2.4%       
Norfolk Southern  20,200   1,856,582 
Southwest Airlines  183,800   4,124,472 
Union Pacific  9,450   1,704,591 
      7,685,645 
Utilities--.9%       
Pinnacle West Capital  51,300   2,854,845 
Total Common Stocks       
  (cost $230,106,222)      310,455,549 
 
Other Investment--1.4%       

 



Registered Investment Company;       
Dreyfus Institutional Preferred       
Plus Money Market Fund       
(cost $4,307,625)  4,307,625 b  4,307,625 
Total Investments (cost $234,413,847)  99.9 %  314,763,174 
Cash and Receivables (Net)  .1 %  336,551 
Net Assets  100.0 %  315,099,725 
 
ADR - American Depository Receipts       

 

a Non-income producing security.
b Investment in affiliated money market mutual fund.

At February 28, 2014, net unrealized appreciation on investments was $80,349,327 of which $81,709,221 related to appreciated
investment securities and $1,359,894 related to depreciated investment securities. At February 28, 2014, the cost of investments
for federal income tax purposes was substantially the same as the cost for financial reporting purposes.

Portfolio Summary (Unaudited) †  Value (%) 
Software & Services  11.7 
Technology Hardware & Equipment  11.0 
Energy  9.6 
Pharmaceuticals, Biotech & Life Sciences  9.2 
Capital Goods  8.3 
Materials  6.3 
Diversified Financials  4.6 
Health Care Equipment & Services  4.5 
Retailing  4.3 
Media  3.9 
Food, Beverage & Tobacco  3.7 
Semiconductors & Semiconductor Equipment  3.7 
Banks  3.1 
Transportation  2.4 
Consumer Services  2.1 
Food & Staples Retailing  2.0 
Telecommunication Services  1.9 
Insurance  1.8 
Consumer Durables & Apparel  1.5 
Money Market Investment  1.4 

 



Utilities  .9 
Household & Personal Products  .8 
Automobiles & Components  .6 
Commercial & Professional Services  .6 
  99.9 

 

† Based on net assets.



The following is a summary of the inputs used as of February 28, 2014 in valuing the fund's investments:     
 
     Level 3 -   
    Level 2 - Other   Significant   
Level 1 - Unadjusted  Significant  Unobservable
Assets ($)  Quoted Prices  Observable Inputs    Inputs Total 
Investments in Securities:         
Equity Securities - Domestic Common Stocks+  304,228,001  -  -  304,228,001 
Equity Securities - Foreign Common Stocks+  6,227,548  -  -  6,227,548 
Mutual Funds  4,307,625  -  -  4,307,625 

 

+ See Statement of Investments for additional detailed categorizations.



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
Board of Trustees. 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.

U.S. Treasury Bills are valued at the mean price between quoted bid
prices and asked prices by the Service. These securities are generally
categorized within Level 2 of the fair value 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.

The Dreyfus Third Century Fund, Inc.

By: /s/ Bradley J. Skapyak

Bradley J. Skapyak

President

 

Date:

April 24, 2014

 

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 24, 2014

 

By: /s/ James Windels

James Windels

Treasurer

 

Date:

April 24, 2014

 

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 nqcertification-3522814s.htm CERTIFICATION nqcertification-3522814s.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 Third Century 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 24, 2014

 

 

 

 


 

 

SECTION 302 CERTIFICATION

I, James Windels, certify that:

1.  I have reviewed this report on Form N-Q of The Dreyfus Third Century 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/ James Windels

James Windels

Treasurer

Date: April 24, 2014