NPORT-EX 2 c10899bnymellonu-august20211.htm Untitled Document

STATEMENT OF INVESTMENTS
BNY Mellon U.S. Equity Fund

August 31, 2021 (Unaudited)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 98.8%

     

Capital Goods - 5.6%

     

Fastenal

   

300,400

 

16,777,340

 

Hexcel

   

232,200

a 

13,168,062

 

The Toro Company

   

124,200

 

13,654,548

 
    

43,599,950

 

Consumer Durables & Apparel - 2.5%

     

NIKE, Cl. B

   

118,200

 

 19,472,268

 

Consumer Services - 4.0%

     

Booking Holdings

   

6,800

a 

15,637,756

 

McDonald's

   

64,300

 

15,268,678

 
    

30,906,434

 

Diversified Financials - 3.2%

     

Intercontinental Exchange

   

136,900

 

16,363,657

 

Moody's

   

22,300

 

8,491,171

 
    

24,854,828

 

Food & Staples Retailing - 1.1%

     

Costco Wholesale

   

19,100

 

 8,699,859

 

Health Care Equipment & Services - 11.3%

     

Edwards Lifesciences

   

149,000

a 

17,459,820

 

Henry Schein

   

182,100

a 

13,764,939

 

Intuitive Surgical

   

22,100

a 

23,283,676

 

ResMed

   

60,400

 

17,548,012

 

Stryker

   

59,500

 

16,487,450

 
    

88,543,897

 

Household & Personal Products - 3.4%

     

Colgate-Palmolive

   

133,100

 

10,375,145

 

The Estee Lauder Companies, Cl. A

   

48,000

 

16,343,520

 
    

26,718,665

 

Materials - 5.6%

     

Ecolab

   

69,600

 

15,685,056

 

FMC

   

128,600

 

12,040,818

 

Linde

   

50,500

 

15,886,795

 
    

43,612,669

 

Media & Entertainment - 6.8%

     

Alphabet, Cl. C

   

11,206

a 

32,600,943

 

Take-Two Interactive Software

   

39,900

a 

6,432,678

 

The Walt Disney Company

   

75,800

a 

13,742,540

 
    

52,776,161

 

Pharmaceuticals Biotechnology & Life Sciences - 10.8%

     

Eli Lilly & Co.

   

71,200

 

18,390,248

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 98.8% (continued)

     

Pharmaceuticals Biotechnology & Life Sciences - 10.8% (continued)

     

Illumina

   

23,600

a 

10,788,976

 

Johnson & Johnson

   

92,500

 

16,014,525

 

Mettler-Toledo International

   

10,200

a 

15,838,866

 

Waters

   

57,400

a 

23,764,748

 
    

84,797,363

 

Retailing - 6.2%

     

Dollar General

   

74,300

 

16,562,213

 

O'Reilly Automotive

   

26,100

a 

15,505,488

 

The TJX Companies

   

224,300

 

16,311,096

 
    

48,378,797

 

Semiconductors & Semiconductor Equipment - 1.9%

     

Texas Instruments

   

79,200

 

 15,120,072

 

Software & Services - 23.7%

     

Adobe

   

39,400

a 

26,149,780

 

Ansys

   

37,700

a 

13,774,072

 

Automatic Data Processing

   

77,100

 

16,116,984

 

Cognizant Technology Solutions, Cl. A

   

107,000

 

8,165,170

 

Fortinet

   

46,000

a 

14,496,440

 

Jack Henry & Associates

   

84,100

 

14,833,558

 

Manhattan Associates

   

93,500

a 

15,239,565

 

Mastercard, Cl. A

   

58,400

 

20,219,832

 

Microsoft

   

109,200

 

32,965,296

 

Oracle

   

90,700

 

8,084,091

 

Paychex

   

136,200

 

15,590,814

 
    

185,635,602

 

Technology Hardware & Equipment - 10.9%

     

Amphenol, Cl. A

   

305,600

 

23,418,128

 

Cisco Systems

   

272,900

 

16,106,558

 

Cognex

   

187,100

 

16,580,802

 

IPG Photonics

   

63,600

a 

10,855,248

 

TE Connectivity

   

119,600

 

17,966,312

 
    

84,927,048

 

Transportation - 1.8%

     

Expeditors International of Washington

   

115,400

 

 14,383,456

 

Total Common Stocks (cost $289,754,247)

   

772,427,069

 
  

1-Day
Yield (%)

     

Investment Companies - 1.2%

     

Registered Investment Companies - 1.2%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares
(cost $9,484,997)

 

0.06

 

9,484,997

b 

 9,484,997

 

Total Investments (cost $299,239,244)

 

100.0%

 

781,912,066

 


      

Cash and Receivables (Net)

 

.0%

 

20,180

 

Net Assets

 

100.0%

 

781,932,246

 

a Non-income producing security.

b 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 U.S. Equity 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

772,427,069

-

-

772,427,069

Investment Companies

9,484,997

-

-

9,484,997

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 fund's Board (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.

At August 31, 2021, accumulated net unrealized appreciation on investments was $482,672,822, consisting of $483,697,633 gross unrealized appreciation and $1,024,811 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.