0001775697-21-001033.txt : 20211027 0001775697-21-001033.hdr.sgml : 20211027 20211027114236 ACCESSION NUMBER: 0001775697-21-001033 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20210831 FILED AS OF DATE: 20211027 PERIOD START: 20211130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BNY Mellon Strategic Funds, Inc. CENTRAL INDEX KEY: 0000737520 IRS NUMBER: 133272460 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-03940 FILM NUMBER: 211351601 BUSINESS ADDRESS: STREET 1: C/O BNY MELLON INVESTMENT ADVISER, INC. STREET 2: 240 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10166 BUSINESS PHONE: 2129226400 MAIL ADDRESS: STREET 1: C/O BNY MELLON INVESTMENT ADVISER, INC. STREET 2: 240 GREENWICH STREET CITY: NEW YORK STATE: NY ZIP: 10166 FORMER COMPANY: FORMER CONFORMED NAME: Strategic Funds, Inc. DATE OF NAME CHANGE: 20060518 FORMER COMPANY: FORMER CONFORMED NAME: DREYFUS PREMIER NEW LEADERS FUND INC DATE OF NAME CHANGE: 20021213 FORMER COMPANY: FORMER CONFORMED NAME: DREYFUS NEW LEADERS FUND INC DATE OF NAME CHANGE: 19920703 0000737520 S000015657 BNY Mellon International Stock Fund C000042694 Class A DISAX C000042695 Class C DISCX C000042696 Class I DISRX C000130441 Class Y DISYX NPORT-P 1 primary_doc.xml NPORT-P false 0000737520 XXXXXXXX S000015657 C000042694 C000042695 C000042696 C000130441 BNY Mellon Strategic Funds, Inc. 811-03940 0000737520 549300KOXIZHC0IVRM71 240 Greenwich Street New York 10286 212 495 1784 BNY Mellon International Stock Fund S000015657 549300KKLHYK1M7PY666 2021-11-30 2021-08-31 N 7395911110.44 6579459.81 7389331650.63 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 N CANADIAN NATIONAL RAILWAY CO 3SU7BEP7TH9YEQOZCS77 CANADIAN NATIONAL RAILWAY CO N/A 1218400.00 NS 143312772.96 1.9394551460926 Long EC CORP CA N 1 N N N HOYA CORP 353800X4VR3BHEUCJB42 HOYA CORP N/A 1120900.00 NS 181153497.25 2.4515545629157 Long EC CORP JP N 1 N N N CHR HANSEN HOLDING A/S 549300MKPW8ZF3E8MW37 CHR HANSEN HOLDING A/S N/A 1592000.00 NS 146910291.83 1.9881404540487 Long EC CORP DK N 1 N N N MISUMI GROUP INC 353800SJWGE5BEK2V032 MISUMI GROUP INC N/A 1837800.00 NS 72917302.19 0.9867915751728 Long EC CORP JP N 1 N N N GALP ENERGIA SGPS SA 2138003319Y7NM75FG53 GALP ENERGIA SGPS SA N/A 6398300.00 NS 65530272.10 0.8868227222473 Long EC CORP PT N 1 N N N INDUSTRIA DE DISENO TEXTIL SA 549300TTCXZOGZM2EY83 INDUSTRIA DE DISENO TEXTIL SA N/A 4400000.00 NS 150196123.00 2.0326076849885 Long EC CORP ES N 1 N N N NOVARTIS AG 5493007HIVTX6SY6XD66 NOVARTIS AG N/A 1630100.00 NS 150932218.40 2.0425692814468 Long EC CORP CH N 1 N N N SGS SA 2138007JNS19JHNA2336 SGS SA N/A 42000.00 NS 131996724.00 1.7863147878705 Long EC CORP CH N 1 N N N KEYENCE CORP 529900M7PQBS7A89DZ11 KEYENCE CORP N/A 427280.00 NS 256837943.92 3.4757939697848 Long EC CORP JP N 1 N N N CLP HOLDINGS LTD 25490002BUTSMP94GO68 CLP HOLDINGS LTD N/A 9862500.00 NS 98593931.82 1.3342740112577 Long EC CORP HK N 1 N N N SHIN-ETSU CHEMICAL CO LTD 353800PX8Q64N86H5W41 SHIN-ETSU CHEMICAL CO LTD N/A 1011600.00 NS 167396973.14 2.2653871967666 Long EC CORP JP N 1 N N N EXPERIAN PLC 635400RXXHHYT1JTSZ26 EXPERIAN PLC N/A 3750400.00 NS 165205847.58 2.2357346427388 Long EC CORP JE N 1 N N N LVMH MOET HENNESSY LOUIS VUITTON SE IOG4E947OATN0KJYSD45 LVMH MOET HENNESSY LOUIS VUITTON SE N/A 256400.00 NS 189760127.24 2.5680282901339 Long EC CORP FR N 1 N N N FANUC CORP 529900QTSW745LOKW705 FANUC CORP N/A 661200.00 NS 144182047.90 1.9512190644157 Long EC CORP JP N 1 N N N SAP SE 529900D6BF99LW9R2E68 SAP SE N/A 1047700.00 NS 157677168.44 2.1338488498693 Long EC CORP DE N 1 N N N KONE OYJ 2138001CNF45JP5XZK38 KONE OYJ N/A 1564500.00 NS 129753184.26 1.755952911505 Long EC CORP FI N 1 N N N L'OREAL SA 529900JI1GG6F7RKVI53 L'OREAL SA N/A 358000.00 NS 167519378.55 2.2670437120753 Long EC CORP FR N 1 N N N RECKITT BENCKISER GROUP PLC 5493003JFSMOJG48V108 RECKITT BENCKISER GROUP PLC N/A 1520000.00 NS 115752471.08 1.566480928896 Long EC CORP GB N 1 N N N CSL LTD 529900ECSECK5ZDQTE14 CSL LTD N/A 686800.00 NS 156727558.77 2.1209977597451 Long EC CORP AU N 1 N N N DIAGEO PLC 213800ZVIELEA55JMJ32 DIAGEO PLC N/A 3553000.00 NS 170676381.23 2.309767504013 Long EC CORP GB N 1 N N N COLOPLAST A/S 529900NN7SOJ5QG82X67 COLOPLAST A/S N/A 684800.00 NS 118623860.79 1.6053395137554 Long EC CORP DK N 1 N N N NOVO NORDISK A/S 549300DAQ1CVT6CXN342 NOVO NORDISK A/S N/A 2033000.00 NS 202615683.85 2.7420028417959 Long EC CORP DK N 1 N N N NOVOZYMES A/S 529900T6WNZXD2R3JW38 NOVOZYMES A/S N/A 2005512.00 NS 162015259.22 2.1925563349993 Long EC CORP DK N 1 N N N COCHLEAR LTD 5493001OLLWY8KV5UC08 COCHLEAR LTD N/A 431100.00 NS 73544565.01 0.9952803377519 Long EC CORP AU N 1 N N N AIA GROUP LTD ZP5ILWVSYE4LJGMMVD57 AIA GROUP LTD N/A 15578600.00 NS 186183243.87 2.5196222428875 Long EC CORP HK N 1 N N N GIVAUDAN SA 213800SVRMQA1TD91D41 GIVAUDAN SA N/A 33400.00 NS 167592683.59 2.2680357509154 Long EC CORP CH N 1 N N N SMC CORP 353800O40V08DOZ70X62 SMC CORP N/A 314100.00 NS 201310648.55 2.7243417682144 Long EC CORP JP N 1 N N N SMITH & NEPHEW PLC 213800ZTMDN8S67S1H61 SMITH & NEPHEW PLC N/A 6856300.00 NS 131498057.57 1.7795663232788 Long EC CORP GB N 1 N N N HANG LUNG PROPERTIES LTD 529900CIVTNMXQT59E61 HANG LUNG PROPERTIES LTD N/A 40583000.00 NS 97472878.64 1.3191027720577 Long EC CORP HK N 1 N N N ROCHE HOLDING AG 549300U41AUUVOAAOB37 ROCHE HOLDING AG N/A 482300.00 NS 193683674.58 2.6211257490856 Long EC CORP CH N 1 N N N COMPASS GROUP PLC 2138008M6MH9OZ6U2T68 COMPASS GROUP PLC N/A 6013500.00 NS 124056245.43 1.6788561035749 Long EC CORP GB N 1 N N N ADIDAS AG 549300JSX0Z4CW0V5023 ADIDAS AG N/A 448300.00 NS 159037266.10 2.152255083671 Long EC CORP DE N 1 N N N KUEHNE + NAGEL INTERNATIONAL AG 529900Q0YED3805QXQ66 KUEHNE + NAGEL INTERNATIONAL AG N/A 667600.00 NS 244294578.21 3.3060443049564 Long EC CORP CH N 1 N N N AIR LIQUIDE SA 969500MMPQVHK671GT54 AIR LIQUIDE SA N/A 782600.00 NS 140290022.51 1.8985481927589 Long EC CORP FR N 1 N N N TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 549300KB6NK5SBD14S87 TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 874039100 2177200.00 NS USD 259108572.00 3.5065224332962 Long EC CORP TW N 1 N N N ALIMENTATION COUCHE-TARD INC 549300OSW32RVX8CCZ87 ALIMENTATION COUCHE-TARD INC N/A 4259900.00 NS 172131496.06 2.3294596074236 Long EC CORP CA N 1 N N N ASML HOLDING NV 724500Y6DUVHQD6OXN27 ASML HOLDING NV N/A 331990.00 NS 276162022.12 3.7373071771173 Long EC CORP NL N 1 N N N NESTLE SA KY37LUS27QQX7BB93L28 NESTLE SA N/A 1219000.00 NS 154067223.59 2.0849953808321 Long EC CORP CH N 1 N N N DAIKIN INDUSTRIES LTD 549300Y7FWSTSHMW5Y57 DAIKIN INDUSTRIES LTD N/A 795100.00 NS 198061314.37 2.6803684519034 Long EC CORP JP N 1 N N N MAKITA CORP 529900CDR9E94BCM6294 MAKITA CORP N/A 2050900.00 NS 117817461.26 1.594426489843 Long EC CORP JP N 1 N N N MURATA MANUFACTURING CO LTD 529900QZG6DL8ZRI7140 MURATA MANUFACTURING CO LTD N/A 1900000.00 NS 157488524.29 2.1312959241255 Long EC CORP JP N 1 N N N TOTALENERGIES SE 529900S21EQ1BO4ESM68 TOTALENERGIES SE N/A 2042104.00 NS 90046797.96 1.218605446574 Long EC CORP FR N 1 N N N SYSMEX CORP 5299001ZO4CKWACMZI55 SYSMEX CORP N/A 1382900.00 NS 157377703.04 2.1297961775282 Long EC CORP JP N 1 N N N JARDINE MATHESON HOLDINGS LTD 2138009KENVUNWOLPK41 JARDINE MATHESON HOLDINGS LTD N/A 983100.00 NS USD 53401992.00 0.7226904207966 Long EC CORP BM N 1 N N N DASSAULT SYSTEMES SE 96950065LBWY0APQIM86 DASSAULT SYSTEMES SE N/A 3026000.00 NS 172591325.60 2.3356824914643 Long EC CORP FR N 1 N N N LONZA GROUP AG 549300EFW4H2TCZ71055 LONZA GROUP AG N/A 98830.00 NS 83639912.64 1.1319009160032 Long EC CORP CH N 1 N N N MERCK KGAA 529900OAREIS0MOPTW25 MERCK KGAA N/A 748400.00 NS 177795067.96 2.4061048599008 Long EC CORP DE N 1 N N N HONG KONG & CHINA GAS CO LTD 254900P7BETXGC7YU827 HONG KONG & CHINA GAS CO LTD N/A 13729518.00 NS 22101532.68 0.2991005645025 Long EC CORP HK N 1 N N N GDJF8UB8PL4C203G_1032200_S N/A HKD/USD SPOT 20210901 NATAUSU N/A -9185676.46 NC -1181068.79 -0.0159834318696 Short DFE HK N 2 NATIONAL AUSTRALIA BANK N/A 9185676.46 HKD 1181068.79 USD 2021-09-01 -1633.69 N N N DREYFUS INSTITUTIONAL PREFERRE 549300RBWL04JG8SIX57 Dreyfus Institutional Preferred Government Plus Money Market Fund N/A 110624976.41 OU Other Units USD 110624976.41 1.4970904222517 Long STIV RF US N 1 2099-12-01 Variable 0.06035 N N N N N N 99VVB9HH4 N/A DREYFUS INST PREF GOVT PLUS MMF - SL #4134 99VVB9HH4 0.06 OU Other Units USD 0.06 0.0000000008119 Long RF US N 1 N N 2021-10-25 BNY Mellon Advantage Funds, Inc. James Windels James Windels Fund Treasurer XXXX NPORT-EX 2 c10322bnymelloni-august20211.htm Untitled Document

STATEMENT OF INVESTMENTS
BNY Mellon International Stock Fund

August 31, 2021 (Unaudited)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 98.2%

     

Australia - 3.1%

     

Cochlear

   

431,100

 

73,544,565

 

CSL

   

686,800

 

156,727,559

 
    

230,272,124

 

Canada - 4.3%

     

Alimentation Couche-Tard, Cl. B

   

4,259,900

 

172,131,496

 

Canadian National Railway

   

1,218,400

 

143,312,773

 
    

315,444,269

 

Denmark - 8.5%

     

Chr. Hansen Holding

   

1,592,000

 

146,910,292

 

Coloplast, Cl. B

   

684,800

 

118,623,861

 

Novo Nordisk, Cl. B

   

2,033,000

 

202,615,684

 

Novozymes, Cl. B

   

2,005,512

 

162,015,259

 
    

630,165,096

 

Finland - 1.8%

     

Kone, Cl. B

   

1,564,500

 

 129,753,184

 

France - 10.3%

     

Air Liquide

   

782,600

 

140,290,022

 

Dassault Systemes

   

3,026,000

 

172,591,326

 

L'Oreal

   

358,000

 

167,519,379

 

LVMH

   

256,400

 

189,760,127

 

TotalEnergies

   

2,042,104

 

90,046,798

 
    

760,207,652

 

Germany - 6.7%

     

adidas

   

448,300

 

159,037,266

 

Merck

   

748,400

 

177,795,068

 

SAP

   

1,047,700

 

157,677,168

 
    

494,509,502

 

Hong Kong - 6.2%

     

AIA Group

   

15,578,600

 

186,183,244

 

CLP Holdings

   

9,862,500

 

98,593,932

 

Hang Lung Properties

   

40,583,000

 

97,472,879

 

Hong Kong & China Gas

   

13,088,518

 

21,069,662

 

Jardine Matheson Holdings

   

983,100

 

53,401,992

 
    

456,721,709

 

Ireland - 2.2%

     

Experian

   

3,750,400

 

 165,205,848

 

Japan - 22.4%

     

Daikin Industries

   

795,100

 

198,061,314

 

FANUC

   

661,200

 

144,182,048

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 98.2% (continued)

     

Japan - 22.4% (continued)

     

Hoya

   

1,120,900

 

181,153,497

 

Keyence

   

427,280

 

256,837,944

 

Makita

   

2,050,900

 

117,817,461

 

MISUMI Group

   

1,837,800

 

72,917,302

 

Murata Manufacturing

   

1,900,000

 

157,488,524

 

Shin-Etsu Chemical

   

1,011,600

 

167,396,973

 

SMC

   

314,100

 

201,310,649

 

Sysmex

   

1,382,900

 

157,377,703

 
    

1,654,543,415

 

Netherlands - 3.7%

     

ASML Holding

   

331,990

 

 276,162,022

 

Portugal - .9%

     

Galp Energia

   

6,398,300

 

 65,530,272

 

Spain - 2.0%

     

Industria de Diseno Textil

   

4,400,000

 

 150,196,123

 

Switzerland - 15.3%

     

Givaudan

   

33,400

 

167,592,684

 

Kuehne + Nagel International

   

667,600

 

244,294,578

 

Lonza Group

   

98,830

 

83,639,913

 

Nestle

   

1,219,000

 

154,067,224

 

Novartis

   

1,630,100

 

150,932,218

 

Roche Holding

   

482,300

 

193,683,675

 

SGS

   

42,000

 

131,996,724

 
    

1,126,207,016

 

Taiwan - 3.5%

     

Taiwan Semiconductor Manufacturing, ADR

   

2,177,200

 

 259,108,572

 

United Kingdom - 7.3%

     

Compass Group

   

6,013,500

 

124,056,245

 

Diageo

   

3,553,000

 

170,676,382

 

Reckitt Benckiser Group

   

1,520,000

 

115,752,471

 

Smith & Nephew

   

6,856,300

 

131,498,058

 
    

541,983,156

 

Total Common Stocks (cost $4,032,714,176)

   

7,256,009,960

 
  

1-Day
Yield (%)

     

Investment Companies - 1.5%

     

Registered Investment Companies - 1.5%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares
(cost $110,624,976)

 

0.06

 

110,624,976

a 

 110,624,976

 

Total Investments (cost $4,143,339,152)

 

99.7%

 

7,366,634,936

 

Cash and Receivables (Net)

 

.3%

 

22,696,715

 

Net Assets

 

100.0%

 

7,389,331,651

 


ADR—American Depository Receipt

a 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 International Stock Fund

August 31, 2021 (Unaudited)

The following is a summary of the inputs used as of August 31, 2021 in 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

7,256,009,960

-

-

7,256,009,960

Investment Companies

110,624,976

-

-

110,624,976

Liabilities ($)

    

Other Financial Instruments:

   

Forward Foreign Currency Exchange Contracts††

-

(2,151)

-

(2,151)

     

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

†† Amount shown represents unrealized (depreciation) at period end.


STATEMENT OF FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS
BNY Mellon International Stock Fund

August 31, 2021 (Unaudited)

      

Counterparty/ Purchased
Currency

Purchased Currency
Amounts

Currency
Sold

Sold
Currency
Amounts

Settlement Date

Unrealized (Depreciation) ($)

National Australia Bank

United States Dollar

1,031,825

Hong Kong Dollar

8,028,945

9/2/2021

(517)

United States Dollar

1,179,435

Hong Kong Dollar

9,185,676

9/1/2021

(1,634)

Gross Unrealized Depreciation

  

(2,151)

See notes to financial statements.


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.

Derivatives: A derivative is a financial instrument whose performance is derived from the performance of another asset. Each type of derivative instrument that was held by the fund at August 31, 2021 is discussed below.

Forward Foreign Currency Exchange Contracts: The fund enters into forward contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings, to settle foreign currency transactions or as a part of its investment strategy. When executing forward contracts, the fund is obligated to buy or sell a foreign currency at a specified rate on a certain date in the future. With respect to


sales of forward contracts, the fund incurs a loss if the value of the contract increases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract decreases between those dates. With respect to purchases of forward contracts, the fund incurs a loss if the value of the contract decreases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract increases between those dates. Any realized or unrealized gains or losses which occurred during the period are reflected in the Statement of Operations. The fund is exposed to foreign currency risk as a result of changes in value of underlying financial instruments. The fund is also exposed to credit risk associated with counterparty nonperformance on these forward contracts, which is generally limited to the unrealized gain on each open contract. This risk may be mitigated by Master Agreements, if any, between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund’s exposure to the counterparty.

At August 31, 2021, accumulated net unrealized appreciation on investments was $3,223,295,784, consisting of $3,292,314,266 gross unrealized appreciation and $69,018,482 gross unrealized depreciation.

At August 31, 2021, 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.