STATEMENT OF INVESTMENTS
BNY Mellon Research Growth Fund, Inc.

May 31, 2022 (Unaudited)

Description	Shares		Value ($)
Common Stocks - 95.0%
Automobiles & Components - 1.0%
Tesla	21,642	a	16,410,263
Capital Goods - 7.4%
AMETEK	218,726		26,568,647
Howmet Aerospace	566,623		20,268,105
Ingersoll Rand	576,509		27,182,399
Rockwell Automation	64,818		13,819,198
Trane Technologies	203,044		28,032,255
			115,870,604
Commercial & Professional Services - 1.5%
Cintas	59,643		23,757,596
Consumer Durables & Apparel - 1.6%
Lululemon Athletica	28,476	a	8,334,640
Peloton Interactive, Cl. A	1,208,578	a,b	16,871,749
			25,206,389
Consumer Services - 2.3%
Booking Holdings	16,166	a	36,269,391
Diversified Financials - 1.7%
Ameriprise Financial	97,813		27,022,798
Energy - 3.4%
EQT	1,109,676		52,953,739
Food & Staples Retailing - 1.7%
Sysco	324,441		27,311,443
Health Care Equipment & Services - 5.8%
Align Technology	33,307	a	9,247,356
DexCom	85,979	a	25,616,583
Edwards Lifesciences	257,357	a	25,954,453
Intuitive Surgical	103,038	a	23,455,570
Teladoc Health	228,945	a	7,804,735
			92,078,697
Household & Personal Products - .7%
The Estee Lauder Companies, Cl. A	42,539		10,832,556
Materials - 2.0%
Alcoa	498,178		30,747,546
Media & Entertainment - 9.5%
Alphabet, Cl. C	53,924	a	122,988,781
Match Group	116,177	a	9,152,424
Netflix	49,733	a	9,819,284
The Walt Disney Company	68,441	a	7,558,624
			149,519,113

STATEMENT OF INVESTMENTS (Unaudited) (continued)

Description		Shares		Value ($)
Common Stocks - 95.0% (continued)
Pharmaceuticals Biotechnology & Life Sciences - 8.4%
Bio-Techne		30,764		11,374,374
Danaher		87,299		23,031,222
Eli Lilly & Co.		151,886		47,607,148
Horizon Therapeutics		246,083	a,b	22,071,184
Repligen		75,332	a	12,389,854
Seagen		110,853	a	15,040,535
				131,514,317
Retailing - 8.2%
Amazon.com		48,749	a	117,201,858
Chewy, Cl. A		326,550	a,b	8,098,440
Farfetch, Cl. A		379,741	a	3,406,277
				128,706,575
Semiconductors & Semiconductor Equipment - 8.2%
Applied Materials		247,335		29,009,922
Marvell Technology		342,209		20,241,662
NVIDIA		343,208		64,083,798
Qualcomm		113,590		16,268,360
				129,603,742
Software & Services - 21.3%
Ansys		73,766	a	19,205,716
Bill.com Holdings		92,268	a	10,909,768
Block		559,047	a,b	48,922,203
CrowdStrike Holdings, CI. A		83,317	a	13,329,887
Datadog, Cl. A		148,017	a	14,119,342
HubSpot		52,776	a	17,821,927
Microsoft		531,182		144,412,450
Salesforce		163,383	a	26,180,492
Twilio, Cl. A		316,492	a	33,285,464
Zoom Video Communications, CI. A		70,582	a	7,584,036
				335,771,285
Technology Hardware & Equipment - 9.6%
Apple		839,562		124,960,408
Zebra Technologies, Cl. A		75,332	a	25,476,529
				150,436,937
Transportation - .7%
Uber Technologies		499,598	a	11,590,674
Total Common Stocks (cost $1,077,167,834)				1,495,603,665
	1-Day Yield (%)
Investment Companies - 2.5%
Registered Investment Companies - 2.5%
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares (cost $39,544,631)	0.80	39,544,631	c	39,544,631

Investment of Cash Collateral for Securities Loaned - 1.6%
Registered Investment Companies - 1.6%
Dreyfus Institutional Preferred Government Plus Money Market Fund, SL Shares (cost $25,240,804)	0.80	25,240,804	c	25,240,804
Total Investments (cost $1,141,953,269)		99.1%		1,560,389,100
Cash and Receivables (Net)		.9%		14,775,469
Net Assets		100.0%		1,575,164,569

^a Non-income producing security.

^b Security, or portion thereof, on loan. At May 31, 2022, the value of the fund’s securities on loan was $32,709,424 and the value of the collateral was $35,448,154, consisting of cash collateral of $25,240,804 and U.S. Government & Agency securities valued at $10,207,350. In addition, the value of collateral may include pending sales that are also on loan.

^c Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company’s prospectus.

STATEMENT OF INVESTMENTS
BNY Mellon Research Growth Fund, Inc.

May 31, 2022 (Unaudited)

The following is a summary of the inputs used as of May 31, 2022in valuing the fund’s investments:

	Level 1-Unadjusted Quoted Prices	Level 2- Other Significant Observable Inputs	Level 3-Significant Unobservable Inputs	Total
Assets ($)
Investments in Securities:†
Equity Securities - Common Stocks	1,495,603,665	-	-	1,495,603,665
Investment Companies	64,785,435	-	-	64,785,435

^†See Statement of Investments for additional detailed categorizations, if any.

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 SEC under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. 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 equity 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 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 BNY Mellon 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 not to 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 securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.

Pursuant to a securities lending agreement with The Bank of New York Mellon, a subsidiary of BNY Mellon and an affiliate of BNY Mellon Investment Adviser, Inc., 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 BNY Mellon Investment Adviser Inc., 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 or 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. Additionally, the contractual maturity of security lending transactions are on an overnight and continuous basis.

At May 31, 2022, accumulated net unrealized appreciation on investments was $418,435,831, consisting of $634,652,783 gross unrealized appreciation and $216,216,952 gross unrealized depreciation.

At May 31, 2022, 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.