formnq-083.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

811-5245

 

 

 

Dreyfus Strategic Municipals, 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:

 

 9/30

 

Date of reporting period:

  6/30/2010

 

 

 


 

 

FORM N-Q

Item 1.                        Schedule of Investments.

 


 

STATEMENT OF INVESTMENTS       
Dreyfus Strategic Municipals, Inc.         
June 30, 2010 (Unaudited)         
 
Long-Term Municipal  Coupon  Maturity  Principal   
Investments--152.9%  Rate (%)  Date  Amount ($)  Value ($) 
Arizona--7.0%         
Arizona Housing Finance Authority,         
SFMR (Mortgage-Backed         
Securities Program)         
(Collateralized: FHLMC, FNMA         
and GNMA)  5.55  12/1/41  5,565,000  5,761,111 
Barclays Capital Municipal Trust         
Receipts (Salt River Project         
Agricultural Improvement and         
Power District, Salt River         
Project Electric System         
Revenue)  5.00  1/1/38  17,210,000 a,b  17,969,994 
Glendale Western Loop 101 Public         
Facilities Corporation, Third         
Lien Excise Tax Revenue  6.25  7/1/38  5,000,000  5,249,250 
Scottsdale Industrial Development         
Authority, HR (Scottsdale         
Healthcare) (Prerefunded)  5.80  12/1/11  6,000,000 c  6,516,960 
Arkansas--.4%         
Arkansas Development Finance         
Authority, SFMR (Mortgage         
Backed Securities Program)         
(Collateralized: FNMA and GNMA)  6.25  1/1/32  1,895,000  1,895,265 
California--19.5%         
Beverly Hills Unified School         
District, GO  0.00  8/1/30  10,850,000 d  3,786,758 
California,         
GO (Various Purpose)  5.75  4/1/31  10,800,000  11,480,076 
California,         
GO (Various Purpose)  6.50  4/1/33  10,000,000  11,202,400 
California,         
GO (Various Purpose)  6.00  11/1/35  7,500,000  8,001,600 

 



California Pollution Control         
Financing Authority, SWDR         
(Keller Canyon Landfill         
Company Project)  6.88  11/1/27  2,000,000  2,005,140 
California Statewide Communities         
Development Authority, Revenue         
(Bentley School)  6.75  7/1/32  1,925,000  1,760,008 
California Statewide Communities         
Development Authority, Revenue         
(Bentley School)  7.00  7/1/40  2,090,000 b  2,046,423 
California Statewide Communities         
Development Authority, Revenue         
(Bentley School)  0.00  7/1/50  6,225,000 b,d  222,793 
California Statewide Communities         
Development Authority, Revenue         
(Daughters of Charity Health         
System)  5.25  7/1/30  3,000,000  2,679,000 
California Statewide Communities         
Development Authority, Revenue         
(Daughters of Charity Health         
System)  5.00  7/1/39  5,000,000  4,138,950 
California Statewide Communities         
Development Authority, Student         
Housing Revenue (CHF-Irvine,         
LLC-UCI East Campus         
Apartments, Phase II)  5.75  5/15/32  2,500,000  2,537,725 
Golden State Tobacco         
Securitization Corporation,         
Tobacco Settlement         
Asset-Backed Bonds  4.50  6/1/27  4,975,000  4,254,719 
Golden State Tobacco         
Securitization Corporation,         
Tobacco Settlement         
Asset-Backed Bonds  5.00  6/1/33  12,275,000  9,366,070 
Golden State Tobacco         
Securitization Corporation,         
Tobacco Settlement         
Asset-Backed Bonds  5.75  6/1/47  7,050,000  5,071,065 
Golden State Tobacco         
Securitization Corporation,         
Tobacco Settlement         

 



Asset-Backed Bonds         
(Prerefunded)  7.80  6/1/13  8,100,000 c  9,635,031 
Golden State Tobacco         
Securitization Corporation,         
Tobacco Settlement         
Asset-Backed Bonds         
(Prerefunded)  7.90  6/1/13  2,000,000 c  2,384,480 
Sacramento County,         
Airport System Subordinate and         
Passenger Facility Charges         
Grant Revenue  6.00  7/1/35  6,250,000  6,791,063 
San Diego Public Facilities         
Financing Authority, Senior         
Sewer Revenue  5.25  5/15/34  2,500,000  2,658,400 
San Francisco City and County         
Public Utilities Commission,         
San Francisco Water Revenue  5.00  11/1/29  5,000,000  5,376,000 
Tuolumne Wind Project Authority,         
Revenue (Tuolumne Company         
Project)  5.88  1/1/29  3,500,000  3,818,815 
Colorado--1.9%         
Beacon Point Metropolitan         
District, GO  6.25  12/1/35  2,000,000  1,818,460 
Colorado Educational and Cultural         
Facilities Authority, Charter         
School Revenue (American         
Academy Project)  8.00  12/1/40  3,500,000  4,158,875 
Colorado Housing and Finance         
Authority, Single Family         
Program Senior and Subordinate         
Bonds (Collateralized; FHA)  6.60  8/1/32  1,235,000  1,315,164 
Southlands Metropolitan District         
Number 1, GO (Prerefunded)  7.13  12/1/14  2,000,000 c  2,491,920 
Florida--4.1%         
Clearwater,         
Water and Sewer Revenue  5.25  12/1/39  5,000,000  5,265,500 
Greater Orlando Aviation         
Authority, Airport Facilities         
Revenue  6.25  10/1/20  8,000,000  9,135,280 
Orange County School Board,         

 



COP (Master Lease Purchase         
Agreement) (Insured; Assured         
Guaranty Municipal Corp.)  5.50  8/1/34  6,000,000  6,401,700 
Georgia--6.1%         
Atlanta,         
Water and Wastewater Revenue  6.00  11/1/27  6,000,000  6,508,020 
Atlanta,         
Water and Wastewater Revenue         
(Insured; Assured Guaranty         
Municipal Corp.)  5.25  11/1/34  6,000,000  6,237,480 
Brooks County Development         
Authority, Senior Health and         
Housing Facilities Revenue         
(Presbyterian Home, Quitman,         
Inc.) (Collateralized; GNMA)  5.70  1/20/39  4,445,000  4,627,512 
Fulton County Development         
Authority, Revenue (Georgia         
Tech North Avenue Apartments         
Project) (Insured; XLCA)  5.00  6/1/32  2,500,000  2,573,525 
Georgia Higher Education         
Facilities Authority, Revenue         
(USG Real Estate Foundation I,         
LLC Project) (Insured; Assured         
Guaranty Municipal Corp.)  5.63  6/15/38  6,000,000  6,340,320 
Milledgeville-Baldwin County         
Development Authority, Revenue         
(Georgia College and State         
Foundation)  6.00  9/1/13  2,090,000  2,422,352 
Milledgeville-Baldwin County         
Development Authority, Revenue         
(Georgia College and State         
Foundation) (Prerefunded)  6.00  9/1/14  2,000,000 c  2,413,540 
Hawaii--.9%         
Hawaii,         
Airports System Revenue  5.25  7/1/26  3,500,000  3,712,450 
Hawaii Department of         
Transportation, Special         
Facility Revenue (Caterair         
International Corporation)  10.13  12/1/10  900,000  892,656 
Idaho--1.0%         

 



Power County Industrial         
Development Corporation, SWDR         
(FMC Corporation Project)  6.45  8/1/32  5,000,000  5,032,350 
Illinois--1.4%         
Chicago,         
SFMR (Collateralized: FHLMC,         
FNMA and GNMA)  6.55  4/1/33  1,695,000  1,805,344 
Metropolitan Pier and Exposition         
Authority, State Tax Revenue         
(McCormick Place Expansion         
Project) (Insured; National         
Public Finance Guarantee Corp.)  5.25  6/15/42  5,325,000  5,353,808 
Indiana--.8%         
Petersburg,         
SWDR (Indianapolis Power and         
Light Company Project)  6.38  11/1/29  4,150,000  4,256,489 
Iowa--.3%         
Tobacco Settlement Authority of         
Iowa, Tobacco Settlement         
Asset-Backed Bonds  5.60  6/1/34  2,000,000  1,625,620 
Kansas--1.8%         
Sedgwick and Shawnee Counties,         
SFMR (Mortgage-Backed         
Securities Program)         
(Collateralized: FNMA and GNMA)  6.30  12/1/32  2,490,000  2,533,749 
Sedgwick and Shawnee Counties,         
SFMR (Mortgage-Backed         
Securities Program)         
(Collateralized: FNMA and GNMA)  6.45  12/1/33  4,745,000  5,025,999 
Sedgwick and Shawnee Counties,         
SFMR (Mortgage-Backed         
Securities Program)         
(Collateralized: FNMA and GNMA)  5.70  12/1/35  1,395,000  1,449,126 
Kentucky--1.9%         
Kentucky Area Development         
Districts Financing Trust, COP         
(Lease Acquisition Program)  5.50  5/1/27  2,000,000  2,038,780 
Louisville/Jefferson County Metro         
Government, Health Facilities         
Revenue (Jewish Hospital and         

 



Saint Mary's HealthCare, Inc.         
Project)  6.13  2/1/37  2,300,000  2,420,060 
Paducah Electric Plant Board,         
Revenue (Insured; Assured         
Guaranty Municipal Corp.)  5.25  10/1/35  5,000,000  5,227,950 
Louisiana--1.8%         
Lakeshore Villages Master         
Community Development         
District, Special Assessment         
Revenue  5.25  7/1/17  2,979,000  1,816,028 
Louisiana Local Government         
Environmental Facilities and         
Community Development         
Authority, Revenue (Westlake         
Chemical Corporation Projects)  6.75  11/1/32  7,000,000  7,244,230 
Maine--.6%         
Maine Housing Authority,         
Mortgage Purchase Bonds  5.30  11/15/23  2,825,000  2,856,019 
Maryland--2.0%         
Maryland Community Development         
Administration, Department of         
Housing and Community         
Development, Residential         
Revenue  5.75  9/1/37  1,990,000  2,077,401 
Maryland Economic Development         
Corporation, EDR         
(Transportation Facilities         
Project)  5.75  6/1/35  1,500,000  1,531,755 
Maryland Economic Development         
Corporation, Senior Student         
Housing Revenue (University of         
Maryland, Baltimore Project)  5.75  10/1/33  4,590,000  3,209,787 
Maryland Economic Development         
Corporation, Student Housing         
Revenue (University of         
Maryland, College Park         
Project) (Prerefunded)  6.50  6/1/13  3,000,000 c  3,493,590 
Massachusetts--6.1%         
Barclays Capital Municipal Trust         
Receipts (Massachusetts Health         

 



and Educational Facilities         
Authority, Revenue         
(Massachusetts Institute of         
Technology Issue))  5.00  7/1/38  13,110,000 a,b  13,858,712 
Massachusetts Health and         
Educational Facilities         
Authority, Revenue (Civic         
Investments Issue)         
(Prerefunded)  9.00  12/15/12  1,500,000 c  1,759,815 
Massachusetts Health and         
Educational Facilities         
Authority, Revenue (Partners         
HealthCare System Issue)  5.75  7/1/32  185,000  189,175 
Massachusetts Health and         
Educational Facilities         
Authority, Revenue (Suffolk         
University Issue)  6.25  7/1/30  5,500,000  5,919,155 
Massachusetts Housing Finance         
Agency, Rental Housing         
Mortgage Revenue (Insured;         
AMBAC)  5.50  7/1/40  4,000,000  3,378,240 
Massachusetts Industrial Finance         
Agency, RRR (Ogden Haverhill         
Project)  5.60  12/1/19  6,000,000  5,968,080 
Michigan--10.9%         
Charyl Stockwell Academy,         
COP  5.90  10/1/35  2,580,000  2,102,571 
Detroit,         
Sewage Disposal System Senior         
Lien Revenue (Insured; Assured         
Guaranty Municipal Corp.)  7.00  7/1/27  2,500,000  2,918,150 
Detroit,         
Sewage Disposal System Senior         
Lien Revenue (Insured; Assured         
Guaranty Municipal Corp.)  7.50  7/1/33  5,700,000  6,860,634 
Detroit School District,         
School Building and Site         
Improvement Bonds (GO -         
Unlimited Tax) (Insured; FGIC)  5.00  5/1/28  6,930,000  6,913,299 
Kent Hospital Finance Authority,         
Revenue (Metropolitan Hospital         

 



Project)  6.00  7/1/35  2,930,000  2,706,089 
Kent Hospital Finance Authority,         
Revenue (Metropolitan Hospital         
Project)  6.25  7/1/40  3,000,000  2,789,970 
Michigan Hospital Finance         
Authority, HR (Henry Ford         
Health System)  5.63  11/15/29  5,000,000  4,996,700 
Michigan Strategic Fund,         
LOR (The Detroit Edison         
Company Exempt Facilities         
Project) (Insured; XLCA)  5.25  12/15/32  3,000,000  3,006,090 
Michigan Strategic Fund,         
SWDR (Genesee Power Station         
Project)  7.50  1/1/21  11,800,000  10,762,308 
Royal Oak Hospital Finance         
Authority, HR (William         
Beaumont Hospital Obligated         
Group)  8.25  9/1/39  5,500,000  6,555,890 
Wayne County Airport Authority,         
Airport Revenue (Detroit         
Metropolitan Wayne County         
Airport) (Insured; National         
Public Finance Guarantee Corp.)  5.00  12/1/34  7,000,000  6,068,160 
Minnesota--3.9%         
Dakota County Community         
Development Agency, SFMR         
(Mortgage-Backed Securities         
Program) (Collateralized:         
FHLMC, FNMA and GNMA)  5.15  12/1/38  1,928,804  1,970,736 
Dakota County Community         
Development Agency, SFMR         
(Mortgage-Backed Securities         
Program) (Collateralized:         
FHLMC, FNMA and GNMA)  5.30  12/1/39  2,108,853  2,206,641 
Minneapolis,         
Health Care System Revenue         
(Fairview Health Services)         
(Insured; Assured Guaranty         
Municipal Corp.)  6.50  11/15/38  5,000,000  5,609,500 
North Oaks,         
Senior Housing Revenue         

 



(Presbyterian Homes of North         
Oaks, Inc. Project)  6.25  10/1/47  5,265,000  5,179,918 
Winona,         
Health Care Facilities Revenue         
(Winona Health Obligated Group)  6.00  7/1/26  5,000,000  5,029,950 
Mississippi--3.7%         
Clairborne County,         
PCR (System Energy Resources,         
Inc. Project)  6.20  2/1/26  4,545,000  4,545,182 
Mississippi Business Finance         
Corporation, PCR (System         
Energy Resources, Inc. Project)  5.88  4/1/22  14,310,000  14,347,206 
Missouri--1.7%         
Missouri Development Finance         
Board, Infrastructure         
Facilities Revenue (Branson         
Landing Project)  5.38  12/1/27  2,000,000  2,001,480 
Missouri Development Finance         
Board, Infrastructure         
Facilities Revenue (Branson         
Landing Project)  5.50  12/1/32  4,500,000  4,505,805 
Missouri Development Finance         
Board, Infrastructure         
Facilities Revenue         
(Independence, Crackerneck         
Creek Project)  5.00  3/1/28  2,000,000  1,992,900 
Montana--.1%         
Montana Board of Housing,         
SFMR  6.45  6/1/29  685,000  696,926 
Nevada--2.2%         
Clark County,         
IDR (Nevada Power Company         
Project)  5.60  10/1/30  6,800,000  6,429,604 
Clark County,         
Passenger Facility Charge         
Revenue (Las Vegas-McCarran         
International Airport)  5.00  7/1/30  5,000,000  4,987,450 
New Hampshire--2.8%         
New Hampshire Business Finance         
Authority, PCR (Public Service         

 



Company of New Hampshire)         
(Insured; AMBAC)  6.00  5/1/21  7,000,000  7,075,670 
New Hampshire Health and         
Educational Facilities         
Authority, Revenue (Exeter         
Project)  6.00  10/1/24  1,000,000  1,027,080 
New Hampshire Health and         
Educational Facilities         
Authority, Revenue (Exeter         
Project)  5.75  10/1/31  1,000,000  1,019,530 
New Hampshire Industrial         
Development Authority, PCR         
(Connecticut Light and Power         
Company Project)  5.90  11/1/16  5,000,000  5,007,350 
New Jersey--3.4%         
New Jersey Economic Development         
Authority, Cigarette Tax         
Revenue  5.75  6/15/34  5,500,000  5,443,405 
New Jersey Higher Education         
Student Assistance Authority,         
Student Loan Revenue (Insured;         
Assured Guaranty Municipal         
Corp.)  6.13  6/1/30  5,000,000  5,290,200 
Tobacco Settlement Financing         
Corporation of New Jersey,         
Tobacco Settlement         
Asset-Backed Bonds         
(Prerefunded)  7.00  6/1/13  5,640,000 c  6,641,269 
New Mexico--2.7%         
Farmington,         
PCR (Public Service Company of         
New Mexico San Juan Project)  5.90  6/1/40  7,000,000  7,010,010 
New Mexico Hospital Equipment Loan         
Council, Hospital System         
Revenue (Presbyterian         
Healthcare Services)  5.00  8/1/39  5,500,000  5,527,665 
New Mexico Mortgage Finance         
Authority, Single Family         
Mortgage Program Revenue         
(Collateralized: FHLMC, FNMA         
and GNMA)  6.15  7/1/35  945,000  1,013,314 

 



New York--8.2%         
Barclays Capital Municipal Trust         
Receipts (New York City         
Municipal Water Finance         
Authority, Water and Sewer         
System General Resolution         
Revenue)  5.00  6/15/39  20,000,000 a,b  20,940,500 
New York City Industrial         
Development Agency, Liberty         
Revenue (7 World Trade Center         
Project)  6.25  3/1/15  3,275,000  3,276,834 
New York City Industrial         
Development Agency, PILOT         
Revenue (Yankee Stadium         
Project) (Insured; Assured         
Guaranty Municipal Corp.)  7.00  3/1/49  5,000,000  5,801,450 
New York City Industrial         
Development Agency, Special         
Facility Revenue (American         
Airlines, Inc. John F. Kennedy         
International Airport Project)  8.00  8/1/28  1,000,000  1,048,280 
Tobacco Settlement Financing         
Corporation of New York,         
Asset-Backed Revenue Bonds         
(State Contingency Contract         
Secured) (Insured; AMBAC)  5.25  6/1/21  5,000,000  5,320,450 
Triborough Bridge and Tunnel         
Authority, Revenue  5.25  11/15/30  5,220,000  5,500,053 
North Carolina--.6%         
North Carolina Housing Finance         
Agency, Home Ownership Revenue  5.88  7/1/31  2,810,000  2,811,855 
North Dakota--.0%         
North Dakota Housing Finance         
Agency, Home Mortgage Revenue         
(Housing Finance Program)  6.15  7/1/31  220,000  231,601 
Ohio--3.2%         
Buckeye Tobacco Settlement         
Financing Authority, Tobacco         
Settlement Asset-Backed Bonds  5.88  6/1/30  3,000,000  2,355,000 
Canal Winchester Local School         

 



District, School Facilities         
Construction and Improvement         
and Advance Refunding Bonds         
(GO - Unlimited Tax) (Insured;         
National Public Finance         
Guarantee Corp.)  0.00  12/1/29  3,955,000 d  1,471,102 
Canal Winchester Local School         
District, School Facilities         
Construction and Improvement         
and Advance Refunding Bonds         
(GO - Unlimited Tax) (Insured;         
National Public Finance         
Guarantee Corp.)  0.00  12/1/31  3,955,000 d  1,286,917 
Ohio Air Quality Development         
Authority, Air Quality Revenue         
(Ohio Valley Electric         
Corporation Project)  5.63  10/1/19  5,900,000  6,309,814 
Port of Greater Cincinnati         
Development Authority, Tax         
Increment Development Revenue         
(Fairfax Village Red Bank         
Infrastructure Project)  5.63  2/1/36  3,000,000 b  2,195,730 
Toledo Lucas County Port         
Authority, Airport Revenue         
(Baxter Global Project)  6.25  11/1/13  2,600,000  2,477,046 
Oklahoma--.1%         
Oklahoma Housing Finance Agency,         
SFMR (Homeownership Loan         
Program)  7.55  9/1/28  490,000  498,418 
Oregon--1.4%         
Multnomah County Hospital         
Facilities Authority, Revenue         
(Adventist Health System/West)  5.13  9/1/40  3,500,000  3,508,645 
Warm Springs Reservation         
Confederated Tribes,         
Hydroelectric Revenue (Pelton         
Round Butte Project)  6.38  11/1/33  3,300,000  3,409,527 
Pennsylvania--1.5%         
Pennsylvania Turnpike Commission,         
Turnpike Subordinate Revenue  5.25  6/1/39  5,000,000  5,224,250 
Philadelphia Authority for         

 



Industrial Development,         
Revenue (Please Touch Museum         
Project)  5.25  9/1/31  2,500,000  2,221,875 
Rhode Island--1.1%         
Rhode Island Health and         
Educational Building         
Corporation, Hospital         
Financing Revenue (Lifespan         
Obligated Group Issue)         
(Insured; Assured Guaranty         
Municipal Corp.)  7.00  5/15/39  5,000,000  5,773,700 
South Carolina--4.2%         
Barclays Capital Municipal Trust         
Receipts (Columbia, Waterworks         
and Sewer System Revenue)  5.00  2/1/40  10,000,000 a,b  10,581,100 
South Carolina Public Service         
Authority, Revenue Obligations  5.50  1/1/38  10,000,000  10,880,500 
Tennessee--6.2%         
Barclays Capital Municipal Trust         
Receipts (Rutherford County         
Health and Educational         
Facilities Board, Revenue         
(Ascension Health Senior         
Credit Group))  5.00  11/15/40  10,000,000 a,b  10,202,100 
Johnson City Health and         
Educational Facilities Board,         
Hospital First Mortgage         
Revenue (Mountain States         
Health Alliance) (Prerefunded)  7.50  7/1/12  5,000,000 c  5,671,200 
Johnson City Health and         
Educational Facilities Board,         
Hospital First Mortgage         
Revenue (Mountain States         
Health Alliance) (Prerefunded)  7.50  7/1/12  3,000,000 c  3,402,720 
Memphis Center City Revenue         
Finance Corporation, Sports         
Facility Revenue (Memphis         
Redbirds Baseball Foundation         
Project)  6.50  9/1/28  10,000,000 e  4,644,100 
Metropolitan Government of         
Nashville and Davidson County         

 



Health and Educational         
Facilities Board, Revenue (The         
Vanderbilt University)  5.50  10/1/34  7,000,000  7,750,680 
Texas--15.3%         
Austin Convention Enterprises         
Inc., Convention Center Hotel         
First Tier Revenue         
(Prerefunded)  6.70  1/1/11  4,000,000 c  4,128,840 
Barclays Capital Municipal Trust         
Receipts (Leander Independent         
School District, Unlimited Tax         
School Building Bonds         
(Permanent School Fund         
Guarantee Program))  5.00  8/15/40  8,510,000 a,b  8,998,134 
Brazos River Authority,         
PCR (TXU Electric Company         
Project)  8.25  5/1/33  5,000,000 b  2,775,750 
Cities of Dallas and Fort Worth,         
Dallas/Fort Worth         
International Airport, Joint         
Revenue (Insured; National         
Public Finance Guarantee Corp.)  6.25  11/1/28  3,000,000  3,010,770 
Dallas Area Rapid Transit,         
Senior Lien Sales Tax Revenue  5.25  12/1/48  10,000,000  10,430,000 
Harris County Health Facilities         
Development Corporation, HR         
(Memorial Hermann Healthcare         
System)  7.25  12/1/35  2,000,000  2,270,740 
Harris County Health Facilities         
Development Corporation, HR         
(Memorial Hermann Healthcare         
System) (Prerefunded)  6.38  6/1/11  3,500,000 c  3,731,490 
Houston,         
Combined Utility System First         
Lien Revenue (Insured; Assured         
Guaranty Municipal Corp.)  6.00  11/15/36  5,000,000  5,714,550 
North Texas Tollway Authority,         
First Tier System Revenue         
(Insured; Assured Guaranty         
Municipal Corp.)  5.75  1/1/40  10,300,000  11,078,165 
North Texas Tollway Authority,         

 



Second Tier System Revenue  5.75  1/1/38  5,500,000  5,748,435 
Sabine River Authority,         
PCR (TXU Electric Company         
Project)  6.45  6/1/21  11,300,000  6,133,301 
Sam Rayburn Municipal Power         
Agency, Power Supply System         
Revenue  5.75  10/1/21  6,000,000  6,137,820 
Texas Department of Housing and         
Community Affairs, Home         
Mortgage Revenue         
(Collateralized: FHLMC, FNMA         
and GNMA)  12.91  7/2/24  700,000 f  803,390 
Texas Turnpike Authority,         
Central Texas Turnpike System         
Revenue (Insured; AMBAC)  5.75  8/15/38  7,100,000  7,219,919 
Vermont--.1%         
Vermont Housing Finance Agency,         
SFHR (Insured; Assured         
Guaranty Municipal Corp.)  6.40  11/1/30  515,000  525,764 
Virginia--2.0%         
Barclays Capital Municipal Trust         
Receipts (Virginia Small         
Business Financing Authority,         
Health Care Facilities         
Revenue, (Sentara Healthcare))  5.00  11/1/40  10,000,000 a,b  10,225,650 
Washington--2.7%         
Washington Health Care Facilities         
Authority, Mortgage Revenue         
(Highline Medical Center)         
(Collateralized; FHA)  6.25  8/1/36  6,000,000  6,485,220 
Washington Higher Education         
Facilities Authority, Revenue         
(Seattle University Project)         
(Insured; AMBAC)  5.25  11/1/37  4,210,000  4,304,809 
Washington Housing Finance         
Commission, Revenue         
(Single-Family Program)         
(Collateralized: FHLMC, FNMA         
and GNMA)  5.15  6/1/37  3,000,000  3,050,880 
West Virginia--1.8%         

 



The County Commission of Harrison         
County, SWDR (Allegheny Energy         
Supply Company, LLC Harrison         
Station Project)  5.50  10/15/37  2,000,000  1,931,360 
The County Commission of Pleasants         
County, PCR (Allegheny Energy         
Supply Company, LLC Pleasants         
Station Project)  5.25  10/15/37  5,000,000  4,914,150 
West Virginia Water Development         
Authority, Water Development         
Revenue (Insured; AMBAC)  6.38  7/1/39  2,250,000  2,274,030 
Wisconsin--7.4%         
Badger Tobacco Asset         
Securitization Corporation,         
Tobacco Settlement         
Asset-Backed Bonds         
(Prerefunded)  7.00  6/1/12  22,995,000 c  25,724,736 
Badger Tobacco Asset         
Securitization Corporation,         
Tobacco Settlement         
Asset-Backed Bonds         
(Prerefunded)  6.13  6/1/27  6,860,000 c  7,400,362 
Madison,         
IDR (Madison Gas and Electric         
Company Projects)  5.88  10/1/34  2,390,000  2,413,685 
Wisconsin Health and Educational         
Facilities Authority, Revenue         
(Aurora Health Care, Inc.)  6.40  4/15/33  2,000,000  2,042,160 
Wyoming--1.9%         
Sweetwater County,         
SWDR (FMC Corporation Project)  5.60  12/1/35  4,500,000  4,411,350 
Wyoming Municipal Power Agency,         
Power Supply System Revenue  5.50  1/1/33  2,360,000  2,488,880 
Wyoming Municipal Power Agency,         
Power Supply System Revenue  5.38  1/1/42  2,750,000  2,852,135 
U.S. Related--6.2%         
Government of Guam,         
LOR (Section 30)  5.75  12/1/34  2,000,000  2,051,060 
Guam Housing Corporation,         
SFMR (Guaranteed         

 



Mortgage-Backed Securities         
Program) (Collateralized;         
FHLMC)  5.75  9/1/31  965,000  1,062,803 
Puerto Rico Commonwealth,         
Public Improvement GO  5.50  7/1/32  2,000,000  2,036,900 
Puerto Rico Commonwealth,         
Public Improvement GO  6.00  7/1/39  3,500,000  3,704,435 
Puerto Rico Electric Power         
Authority, Power Revenue  5.25  7/1/40  2,500,000  2,513,525 
Puerto Rico Highways and         
Transportation Authority,         
Transportation Revenue         
(Prerefunded)  6.00  7/1/10  6,000,000 c  6,060,960 
Puerto Rico Sales Tax Financing         
Corporation, Sales Tax Revenue         
(First Subordinate Series)  5.38  8/1/39  2,500,000  2,510,100 
Puerto Rico Sales Tax Financing         
Corporation, Sales Tax Revenue         
(First Subordinate Series)  6.00  8/1/42  11,000,000  11,695,750 
Total Long-Term Municipal Investments         
(cost $763,488,518)        778,891,219 
Short-Term Municipal  Coupon  Maturity  Principal   
Investments--1.4%  Rate (%)  Date  Amount ($)  Value ($) 
Massachusetts--.1%         
Massachusetts Health and         
Educational Facilities         
Authority, Revenue (Harvard         
University Issue)  0.08  7/1/10  400,000 g  400,000 
New York--1.3%         
New York City,         
GO Notes (Liquidity Facility;         
Allied Irish Banks)  1.00  7/1/10  1,200,000 g  1,200,000 
New York City,         
GO Notes (LOC; JPMorgan Chase         
Bank)  0.17  7/1/10  4,400,000 g  4,400,000 
New York City,         
GO Notes (LOC; JPMorgan Chase         
Bank)  0.17  7/1/10  1,100,000 g  1,100,000 
Total Short-Term Municipal Investments         

 



(cost $7,100,000)    7,100,000 
Total Investments (cost $770,588,518)  154.3%  785,991,219 
Liabilities, Less Cash and Receivables  (6.1%)  (30,718,670) 
Preferred Stock, at redemption value  (48.2%)  (245,750,000) 
Net Assets Applicable to Common Shareholders  100.0%  509,522,549 

 

a  Collateral for floating rate borrowings. 
b  Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in 
  transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2010, these securities had 
  a total market value of $100,016,886 or 19.6% of net assets applicable to Common Shareholders. 
c  These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are 
  collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the 
  municipal issue and to retire the bonds in full at the earliest refunding date. 
d  Security issued with a zero coupon. Income is recognized through the accretion of discount. 
e  Non-income producing--security in default. 
f  Inverse floater security--the interest rate is subject to change periodically. 
g  Variable rate demand note - rate shown is the interest rate in effect at June 30, 2010. Maturity date represents the next 
  demand date, or the ultimate maturity date if earlier. 

 

At June 30, 2010, the aggregate cost of investment securities for income tax purposes was $770,588,518. Net unrealized appreciation on investments was $15,402,701 of which $37,967,557 related to appreciated investment securities and $22,564,856 related to depreciated investment securities.

Summary of Abbreviations     
ABAG  Association of Bay Area Governments  ACA  American Capital Access 
AGC  ACE Guaranty Corporation  AGIC  Asset Guaranty Insurance Company 
AMBAC  American Municipal Bond Assurance Corporation  ARRN  Adjustable Rate Receipt Notes 
BAN  Bond Anticipation Notes  BPA  Bond Purchase Agreement 
CIFG  CDC Ixis Financial Guaranty  COP  Certificate of Participation 
CP  Commercial Paper  EDR  Economic Development Revenue 
EIR  Environmental Improvement Revenue  FGIC  Financial Guaranty Insurance Company 

 



FHA  Federal Housing Administration  FHLB  Federal Home Loan Bank 
FHLMC  Federal Home Loan Mortgage Corporation  FNMA  Federal National Mortgage Association 
GAN  Grant Anticipation Notes  GIC  Guaranteed Investment Contract 
GNMA  Government National Mortgage Association  GO  General Obligation 
HR  Hospital Revenue  IDB  Industrial Development Board 
IDC  Industrial Development Corporation  IDR  Industrial Development Revenue 
LOC  Letter of Credit  LOR  Limited Obligation Revenue 
LR  Lease Revenue  MFHR  Multi-Family Housing Revenue 
MFMR  Multi-Family Mortgage Revenue  PCR  Pollution Control Revenue 
PILOT  Payment in Lieu of Taxes  PUTTERS  Puttable Tax-Exempt Receipts 
RAC  Revenue Anticipation Certificates  RAN  Revenue Anticipation Notes 
RAW  Revenue Anticipation Warrants  RRR  Resources Recovery Revenue 
SAAN  State Aid Anticipation Notes  SBPA  Standby Bond Purchase Agreement 
SFHR  Single Family Housing Revenue  SFMR  Single Family Mortgage Revenue 
SONYMA  State of New York Mortgage Agency  SWDR  Solid Waste Disposal Revenue 
TAN  Tax Anticipation Notes  TAW  Tax Anticipation Warrants 

 

TRAN  Tax and Revenue Anticipation Notes  XLCA  XL Capital Assurance 

 



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.         
The following is a summary of the inputs used as of June 30, 2010 in valuing the fund's investments:       
 
 
 
  Level 1 - Unadjusted  Level 2 - Other Significant  Level 3 -Significant   
Assets ($)  Quoted Prices  Observable Inputs  Unobservable Inputs  Total 
Investments in Securities:         
Municipal Bonds  -  785,991,219  -  785,991,219 

 



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 municipal debt securities are valued on the last business day of each week and month by an independent pricing service (the “Service”) approved by the Board of Directors. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration of: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. Options and financial futures on municipal and U.S.Treasury securities 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 the last business day of each week and month.

The fund adopted the provisions of ASC Topic 815 “Derivatives and Hedging” which requires 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 fund held no derivatives during the period ended June 30, 2010.These disclosures did not impact the notes to the financial statements.

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 Strategic Municipals, 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)