STATEMENT
OF INVESTMENTS
BNY Mellon Active Midcap Fund
September 30, 2021 (Unaudited)
Description | Shares | Value ($) | |||||
Common Stocks - 99.6% | |||||||
Automobiles & Components - .8% | |||||||
Aptiv | 13,490 | a | 2,009,605 | ||||
Harley-Davidson | 19,220 | 703,644 | |||||
The Goodyear Tire & Rubber Company | 67,745 | a | 1,199,087 | ||||
3,912,336 | |||||||
Banks - 1.4% | |||||||
MGIC Investment | 58,220 | 870,971 | |||||
New York Community Bancorp | 107,380 | 1,381,981 | |||||
Regions Financial | 211,220 | 4,501,098 | |||||
6,754,050 | |||||||
Capital Goods - 8.9% | |||||||
A.O. Smith | 15,310 | 934,982 | |||||
Acuity Brands | 8,010 | 1,388,694 | |||||
AGCO | 19,100 | 2,340,323 | |||||
Dover | 11,240 | 1,747,820 | |||||
EMCOR Group | 12,410 | 1,431,866 | |||||
Fastenal | 21,275 | 1,098,003 | |||||
Fortive | 11,990 | 846,134 | |||||
Fortune Brands Home & Security | 25,990 | 2,324,026 | |||||
Generac Holdings | 6,060 | a | 2,476,540 | ||||
Howmet Aerospace | 31,060 | 969,072 | |||||
Huntington Ingalls Industries | 6,430 | 1,241,376 | |||||
Lennox International | 5,790 | 1,703,244 | |||||
Masco | 37,520 | 2,084,236 | |||||
Parker-Hannifin | 21,360 | 5,972,683 | |||||
Pentair | 25,100 | 1,823,013 | |||||
Stanley Black & Decker | 18,840 | 3,302,840 | |||||
Terex | 33,835 | 1,424,454 | |||||
Textron | 34,995 | 2,443,001 | |||||
The Middleby | 5,155 | a | 878,979 | ||||
The Toro Company | 9,235 | 899,581 | |||||
Trane Technologies | 14,400 | 2,486,160 | |||||
United Rentals | 3,990 | a | 1,400,211 | ||||
W.W. Grainger | 2,500 | 982,650 | |||||
42,199,888 | |||||||
Commercial & Professional Services - 1.2% | |||||||
Booz Allen Hamilton Holding | 17,460 | 1,385,451 | |||||
Clean Harbors | 19,735 | a | 2,049,874 | ||||
Jacobs Engineering Group | 6,840 | 906,505 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 99.6% (continued) | |||||||
Commercial & Professional Services - 1.2% (continued) | |||||||
ManpowerGroup | 11,240 | 1,217,067 | |||||
5,558,897 | |||||||
Consumer Durables & Apparel - 3.8% | |||||||
Brunswick | 14,060 | 1,339,496 | |||||
Deckers Outdoor | 5,260 | a | 1,894,652 | ||||
Hanesbrands | 53,080 | 910,853 | |||||
Mattel | 65,965 | a | 1,224,310 | ||||
Mohawk Industries | 6,970 | a | 1,236,478 | ||||
Peloton Interactive, Cl. A | 13,910 | a | 1,210,866 | ||||
Polaris | 7,410 | 886,681 | |||||
PulteGroup | 44,650 | 2,050,328 | |||||
Tapestry | 55,600 | 2,058,312 | |||||
Tempur Sealy International | 22,230 | 1,031,694 | |||||
Under Armour, Cl. A | 87,245 | a | 1,760,604 | ||||
Whirlpool | 7,140 | 1,455,560 | |||||
YETI Holdings | 10,760 | a | 922,024 | ||||
17,981,858 | |||||||
Consumer Services - 2.6% | |||||||
Chipotle Mexican Grill | 1,570 | a | 2,853,506 | ||||
Expedia Group | 11,620 | a | 1,904,518 | ||||
Norwegian Cruise Line Holdings | 28,060 | a | 749,483 | ||||
Planet Fitness, Cl. A | 9,100 | a | 714,805 | ||||
Royal Caribbean Cruises | 12,750 | a | 1,134,113 | ||||
Service Corp. International | 39,110 | 2,356,769 | |||||
Wyndham Hotels & Resorts | 33,270 | 2,568,111 | |||||
12,281,305 | |||||||
Diversified Financials - 4.6% | |||||||
Affiliated Managers Group | 9,355 | 1,413,447 | |||||
Ally Financial | 16,310 | 832,626 | |||||
Credit Acceptance | 2,260 | a | 1,322,778 | ||||
Discover Financial Services | 24,030 | 2,952,085 | |||||
Evercore, Cl. A | 9,400 | 1,256,498 | |||||
LPL Financial Holdings | 13,215 | 2,071,583 | |||||
MSCI | 4,510 | 2,743,613 | |||||
OneMain Holdings | 24,100 | 1,333,453 | |||||
Stifel Financial | 32,835 | 2,231,467 | |||||
Synchrony Financial | 38,490 | 1,881,391 | |||||
T. Rowe Price Group | 20,070 | 3,947,769 | |||||
21,986,710 | |||||||
Energy - 3.7% | |||||||
APA | 42,770 | 916,561 | |||||
ChampionX | 35,380 | a | 791,097 | ||||
Continental Resources | 43,580 | 2,011,217 | |||||
Hess | 50,055 | 3,909,796 |
Description | Shares | Value ($) | |||||
Common Stocks - 99.6% (continued) | |||||||
Energy - 3.7% (continued) | |||||||
Marathon Oil | 328,390 | 4,489,091 | |||||
Murphy Oil | 79,615 | 1,987,987 | |||||
Occidental Petroleum | 75,430 | 2,231,219 | |||||
ONEOK | 25,785 | 1,495,272 | |||||
17,832,240 | |||||||
Food & Staples Retailing - .5% | |||||||
The Kroger Company | 54,920 | 2,220,416 | |||||
Food, Beverage & Tobacco - 2.7% | |||||||
Darling Ingredients | 21,935 | a | 1,577,127 | ||||
Kellogg | 27,700 | 1,770,584 | |||||
Pilgrim's Pride | 76,485 | a | 2,224,184 | ||||
The Hain Celestial Group | 26,530 | a | 1,134,953 | ||||
The Hershey Company | 10,690 | 1,809,282 | |||||
The J.M. Smucker Company | 28,570 | 3,429,257 | |||||
Tyson Foods, Cl. A | 13,270 | 1,047,534 | |||||
12,992,921 | |||||||
Health Care Equipment & Services - 6.8% | |||||||
Acadia Healthcare | 17,000 | a | 1,084,260 | ||||
Amedisys | 7,780 | a | 1,159,998 | ||||
AmerisourceBergen | 9,610 | 1,147,915 | |||||
Cerner | 37,580 | 2,650,142 | |||||
Chemed | 5,490 | 2,553,509 | |||||
DaVita | 9,410 | a | 1,094,007 | ||||
Dentsply Sirona | 45,440 | 2,637,792 | |||||
Hologic | 26,430 | a | 1,950,798 | ||||
ICU Medical | 7,835 | a | 1,828,532 | ||||
IDEXX Laboratories | 8,090 | a | 5,031,171 | ||||
Integra LifeSciences Holdings | 22,680 | a | 1,553,126 | ||||
McKesson | 12,020 | 2,396,548 | |||||
Teladoc Health | 8,320 | a | 1,055,059 | ||||
Veeva Systems, Cl. A | 9,050 | a | 2,607,938 | ||||
West Pharmaceutical Services | 1,580 | 670,773 | |||||
Zimmer Biomet Holdings | 22,105 | 3,235,288 | |||||
32,656,856 | |||||||
Household & Personal Products - .4% | |||||||
The Clorox Company | 12,230 | 2,025,410 | |||||
Insurance - 5.3% | |||||||
Alleghany | 2,485 | a | 1,551,659 | ||||
American Financial Group | 13,195 | 1,660,327 | |||||
Arch Capital Group | 56,640 | a | 2,162,515 | ||||
Cincinnati Financial | 15,360 | 1,754,419 | |||||
Everest Re Group | 11,475 | 2,877,700 | |||||
Fidelity National Financial | 21,310 | 966,195 | |||||
First American Financial | 19,210 | 1,288,031 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 99.6% (continued) | |||||||
Insurance - 5.3% (continued) | |||||||
Globe Life | 26,735 | 2,380,217 | |||||
Primerica | 18,840 | 2,894,389 | |||||
Reinsurance Group of America | 20,975 | 2,333,678 | |||||
The Hanover Insurance Group | 13,370 | 1,733,019 | |||||
The Hartford Financial Services Group | 31,015 | 2,178,804 | |||||
Unum Group | 63,930 | 1,602,086 | |||||
25,383,039 | |||||||
Materials - 4.6% | |||||||
Avery Dennison | 7,555 | 1,565,472 | |||||
CF Industries Holdings | 50,230 | 2,803,839 | |||||
Corteva | 18,830 | 792,366 | |||||
Crown Holdings | 23,020 | 2,319,956 | |||||
Eagle Materials | 11,980 | 1,571,297 | |||||
Ingevity | 22,730 | a | 1,622,240 | ||||
Minerals Technologies | 18,990 | 1,326,262 | |||||
Nucor | 30,580 | 3,011,824 | |||||
RPM International | 13,765 | 1,068,852 | |||||
The Mosaic Company | 43,450 | 1,552,034 | |||||
Westlake Chemical | 21,950 | 2,000,523 | |||||
WestRock | 50,740 | 2,528,374 | |||||
22,163,039 | |||||||
Media & Entertainment - 5.8% | |||||||
Discovery, Cl. A | 27,760 | a | 704,549 | ||||
DISH Network, Cl. A | 15,695 | a | 682,105 | ||||
Fox, Cl. A | 62,680 | 2,514,095 | |||||
Match Group | 6,485 | a | 1,018,080 | ||||
News Corporation, Cl. A | 80,585 | 1,896,165 | |||||
Omnicom Group | 27,030 | 1,958,594 | |||||
Pinterest, Cl. A | 35,440 | a | 1,805,668 | ||||
Playtika Holding | 53,415 | a | 1,475,856 | ||||
Roku | 8,095 | a | 2,536,568 | ||||
Sirius XM Holdings | 275,210 | 1,678,781 | |||||
Spotify Technology | 7,500 | a | 1,690,050 | ||||
Take-Two Interactive Software | 14,145 | a | 2,179,320 | ||||
The Interpublic Group of Companies | 95,310 | 3,495,018 | |||||
The New York Times Company, Cl. A | 38,480 | 1,895,910 | |||||
Yelp | 29,145 | a | 1,085,360 | ||||
Zillow Group, Cl. C | 11,290 | a | 995,101 | ||||
27,611,220 | |||||||
Pharmaceuticals Biotechnology & Life Sciences - 6.4% | |||||||
Agilent Technologies | 33,100 | 5,214,243 | |||||
Avantor | 40,280 | a | 1,647,452 | ||||
Bio-Rad Laboratories, Cl. A | 3,370 | a | 2,513,851 | ||||
Bruker | 10,785 | 842,309 |
Description | Shares | Value ($) | |||||
Common Stocks - 99.6% (continued) | |||||||
Pharmaceuticals Biotechnology & Life Sciences - 6.4% (continued) | |||||||
Charles River Laboratories International | 3,950 | a | 1,630,046 | ||||
Incyte | 23,220 | a | 1,597,072 | ||||
IQVIA Holdings | 12,410 | a | 2,972,691 | ||||
Mettler-Toledo International | 2,775 | a | 3,822,174 | ||||
Novavax | 3,560 | a | 738,024 | ||||
PerkinElmer | 15,680 | 2,717,187 | |||||
Repligen | 4,560 | a | 1,317,794 | ||||
Royalty Pharma, CI. A | 73,270 | 2,647,978 | |||||
Sage Therapeutics | 25,400 | a | 1,125,474 | ||||
Seagen | 9,000 | a | 1,528,200 | ||||
30,314,495 | |||||||
Real Estate - 8.6% | |||||||
AvalonBay Communities | 11,245 | b | 2,492,342 | ||||
Boston Properties | 9,445 | b | 1,023,366 | ||||
CubeSmart | 33,860 | b | 1,640,517 | ||||
Extra Space Storage | 17,860 | b | 3,000,301 | ||||
First Industrial Realty Trust | 110,260 | b | 5,742,341 | ||||
Gaming & Leisure Properties | 27,583 | b | 1,277,645 | ||||
Kimco Realty | 102,135 | b | 2,119,301 | ||||
Mid-America Apartment Communities | 36,575 | b | 6,830,381 | ||||
National Retail Properties | 61,670 | b | 2,663,527 | ||||
PS Business Parks | 13,385 | b | 2,097,965 | ||||
Regency Centers | 23,805 | b | 1,602,791 | ||||
SBA Communications | 6,470 | b | 2,138,788 | ||||
Simon Property Group | 22,890 | b | 2,975,013 | ||||
SL Green Realty | 6,710 | b | 475,336 | ||||
Urban Edge Properties | 53,630 | b | 981,965 | ||||
Vornado Realty Trust | 53,640 | b | 2,253,416 | ||||
Weyerhaeuser | 50,860 | b | 1,809,090 | ||||
41,124,085 | |||||||
Retailing - 4.9% | |||||||
Advance Auto Parts | 3,610 | 754,093 | |||||
AutoZone | 2,590 | a | 4,397,794 | ||||
Best Buy | 9,135 | 965,661 | |||||
Dick's Sporting Goods | 11,655 | 1,395,919 | |||||
Dollar Tree | 13,560 | a | 1,297,963 | ||||
Etsy | 5,235 | a | 1,088,671 | ||||
Floor & Decor Holdings, Cl. A | 8,110 | a | 979,607 | ||||
Foot Locker | 20,520 | 936,943 | |||||
Kohl's | 32,565 | 1,533,486 | |||||
LKQ | 37,920 | a | 1,908,134 | ||||
O'Reilly Automotive | 3,840 | a | 2,346,470 | ||||
Ulta Beauty | 7,285 | a | 2,629,302 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 99.6% (continued) | |||||||
Retailing - 4.9% (continued) | |||||||
Wayfair, Cl. A | 4,890 | a | 1,249,444 | ||||
Williams-Sonoma | 10,950 | 1,941,763 | |||||
23,425,250 | |||||||
Semiconductors & Semiconductor Equipment - 3.1% | |||||||
Enphase Energy | 7,860 | a | 1,178,764 | ||||
Entegris | 5,680 | 715,112 | |||||
Microchip Technology | 16,620 | 2,551,004 | |||||
ON Semiconductor | 66,030 | a | 3,022,193 | ||||
Qorvo | 12,820 | a | 2,143,376 | ||||
Skyworks Solutions | 12,610 | 2,077,876 | |||||
Teradyne | 16,940 | 1,849,340 | |||||
Xilinx | 8,240 | 1,244,158 | |||||
14,781,823 | |||||||
Software & Services - 12.2% | |||||||
ACI Worldwide | 66,450 | a | 2,042,008 | ||||
Alliance Data Systems | 12,365 | 1,247,505 | |||||
Aspen Technology | 9,030 | a | 1,108,884 | ||||
Cadence Design Systems | 12,035 | a | 1,822,580 | ||||
Concentrix | 7,115 | 1,259,355 | |||||
CrowdStrike Holdings, CI. A | 10,900 | a | 2,679,002 | ||||
Datadog, Cl. A | 8,750 | a | 1,236,813 | ||||
DocuSign | 16,440 | a | 4,232,149 | ||||
Dolby Laboratories, Cl. A | 19,305 | 1,698,840 | |||||
EPAM Systems | 2,510 | a | 1,431,905 | ||||
Fair Isaac | 4,660 | a | 1,854,354 | ||||
FLEETCOR Technologies | 11,430 | a | 2,986,316 | ||||
Gartner | 12,750 | a | 3,874,470 | ||||
HubSpot | 2,930 | a | 1,980,944 | ||||
Jack Henry & Associates | 10,060 | 1,650,444 | |||||
Manhattan Associates | 5,330 | a | 815,650 | ||||
Medallia | 15,450 | a | 523,292 | ||||
NortonLifeLock | 42,460 | 1,074,238 | |||||
Nuance Communications | 22,220 | a | 1,222,989 | ||||
Okta | 3,370 | a | 799,836 | ||||
Palantir Technologies, Cl. A | 44,375 | a | 1,066,775 | ||||
Palo Alto Networks | 5,660 | a | 2,711,140 | ||||
Paychex | 9,030 | 1,015,424 | |||||
Paycom Software | 2,630 | a | 1,303,823 | ||||
PTC | 18,860 | a | 2,259,239 | ||||
Qualys | 12,205 | a | 1,358,294 | ||||
Splunk | 9,690 | a | 1,402,240 | ||||
Synopsys | 14,555 | a | 4,357,913 | ||||
Teradata | 31,010 | a | 1,778,423 | ||||
The Trade Desk, Cl. A | 38,710 | a | 2,721,313 |
Description | Shares | Value ($) | |||||
Common Stocks - 99.6% (continued) | |||||||
Software & Services - 12.2% (continued) | |||||||
The Western Union Company | 31,100 | 628,842 | |||||
Verisign | 10,300 | a | 2,111,603 | ||||
58,256,603 | |||||||
Technology Hardware & Equipment - 4.4% | |||||||
Amphenol, Cl. A | 71,690 | 5,249,859 | |||||
Arista Networks | 5,895 | a | 2,025,758 | ||||
Avnet | 41,540 | 1,535,734 | |||||
CDW | 12,005 | 2,185,150 | |||||
Ciena | 18,710 | a | 960,759 | ||||
Corning | 97,505 | 3,557,957 | |||||
Keysight Technologies | 14,870 | a | 2,442,992 | ||||
Motorola Solutions | 6,090 | 1,414,829 | |||||
Zebra Technologies, Cl. A | 3,385 | a | 1,744,697 | ||||
21,117,735 | |||||||
Transportation - 2.4% | |||||||
Delta Air Lines | 53,490 | a | 2,279,209 | ||||
Kirby | 26,750 | a | 1,282,930 | ||||
Old Dominion Freight Line | 18,710 | 5,350,686 | |||||
United Airlines Holdings | 50,770 | a | 2,415,129 | ||||
11,327,954 | |||||||
Utilities - 4.5% | |||||||
ALLETE | 34,045 | 2,026,358 | |||||
Black Hills | 24,740 | 1,552,682 | |||||
DTE Energy | 43,510 | 4,860,502 | |||||
FirstEnergy | 23,380 | 832,796 | |||||
Hawaiian Electric Industries | 37,855 | 1,545,620 | |||||
IDACORP | 34,000 | 3,514,920 | |||||
MDU Resources Group | 53,315 | 1,581,856 | |||||
PPL | 69,950 | 1,950,206 | |||||
Public Service Enterprise Group | 56,255 | 3,425,929 | |||||
21,290,869 | |||||||
Total Common Stocks (cost $388,813,626) | 475,198,999 | ||||||
1-Day | |||||||
Investment Companies - .4% | |||||||
Registered Investment Companies - .4% | |||||||
Dreyfus Institutional Preferred Government
Plus Money Market Fund, Institutional Shares | 0.06 | 1,806,821 | c | 1,806,821 | |||
Total Investments (cost $390,620,447) | 100.0% | 477,005,820 | |||||
Liabilities, Less Cash and Receivables | (.0%) | (29,069) | |||||
Net Assets | 100.0% | 476,976,751 |
a Non-income producing security.
STATEMENT OF INVESTMENTS (Unaudited) (continued)
b Investment in real estate investment trust within the United States.
c Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company’s prospectus.
STATEMENT
OF INVESTMENTS
BNY Mellon Active Midcap Fund
September 30, 2021 (Unaudited)
The following is a summary of the inputs used as of September 30, 2021 in valuing the fund’s investments:
Level 1 - Unadjusted Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 -Significant Unobservable Inputs | Total | |
Assets ($) | ||||
Investments in Securities: † | ||||
Equity Securities—Common Stocks | 475,198,999 | - | - | 475,198,999 |
Investment Companies | 1,806,821 | - | - | 1,806,821 |
† 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.
At September 30, 2021, accumulated net unrealized appreciation on investments was $86,385,373, consisting of $99,265,582 gross unrealized appreciation and $12,880,209 gross unrealized depreciation.
At September 30, 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.