A BNY MELLON COMPANY

Dreyfus Appreciation Fund, Inc.

  • Ticker: DGYGX
  • Product Code: 0146
  • CUSIP: 261970206
Share Class:

Portfolio Manager/Sub-Investment Adviser

The fund's investment adviser is The Dreyfus Corporation and the fund's sub-investment adviser is Fayez Sarofim & Co. (Sarofim & Co.). The fund is managed by a team of portfolio managers employed by Sarofim & Co., consisting of Fayez Sarofim, Catherine Crain, Jeff Jacobe, Gentry Lee, Christopher Sarofim and Charles Sheedy. The team is supported by Sarofim & Co.'s Investment Committee, all the members of which are senior investment professionals at Sarofim & Co. The team members hold the following positions at Sarofim & Co.: Mr. Fayez Sarofim is Chief Executive Officer, Chairman of the Board and Chief Investment Officer; Mr. Christopher Sarofim is the Vice Chairman; Mr. Lee is the President; Mr. Jacobe is the Director of Investments and a Senior Vice President; Mr. Sheedy is a Senior Vice President; and Ms. Crain is a Vice President and the Director of Marketing and Client Services. Messrs. Fayez Sarofim and Christopher Sarofim have been portfolio managers of the fund since December 1990 and October 2000, respectively. Mr. Sheedy and Ms. Crain have been portfolio managers of the fund since October 2000. Messrs. Lee and Jacobe have been portfolio managers of the fund since November 2010.

Sector & Allocation 1

Top Holdings 2

Apple 5.61%
Philip Morris International 4.56%
Exxon Mobil 4.26%
Coca-Cola 3.72%
Chevron 3.42%
Nestle, ADR 2.87%
Novo Nordisk, ADR 2.63%
Altria Group 2.45%
JPMorgan Chase & Co. 2.40%
Procter & Gamble 2.30%

Portfolio Statistics

Benchmark 3 S&P 500(r) Index
Number of Holdings 62
as of 03/31/15
Portfolio Turnover Rate 6.60%
as of fiscal year end 12/31/14
P/E Ratio 4 17.45
as of 03/30/15

Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. Download a prospectus, or a summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.

Notes & Disclosures
  1. Portfolio composition and allocation is as of 03/31/15 and is subject to change at any time. Totals may not be exact due to rounding. Negative exposures may represent short positions through derivatives.
  2. The holdings listed should not be considered recommendations to buy or sell a security. Large concentrations can increase share price volatility.
  3. Source: Morningstar, Inc. All rights reserved. Reflects reinvestment of dividends and, where applicable, capital gain distributions. The Standard & Poor's 500 (S&P 500) Composite Stock Price Index is a widely accepted, unmanaged index of U.S. stock market performance.
  4. Price/earnings for a stock is the ratio of the company's most recent month-end share price to the company's estimated earnings per share (EPS) for the current fiscal year. If a third-party estimate for the current year EPS is not available, Morningstar will calculate an internal estimate based on the most recently reported EPS and average historical earnings growth rates. Price/ earnings is one of the five value factors used to calculate the Morningstar Style Box. For portfolios, this historical P/E data point is calculated by taking an asset-weighted average of the earnings yields (E/P) of all the stocks in the portfolio and then taking the reciprocal of the result. Source: Morningstar
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