NPORT-EX 2 c10322bnymello-february20241.htm Untitled Document

STATEMENT OF INVESTMENTS
BNY Mellon International Stock Fund

February 29, 2024 (Unaudited)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 99.1%

     

Australia - 3.4%

     

Cochlear Ltd.

   

352,400

 

80,295,444

 

CSL Ltd.

   

686,800

 

127,906,827

 
    

208,202,271

 

Canada - 5.3%

     

Alimentation Couche-Tard, Inc.

   

2,909,800

 

180,464,846

 

Canadian National Railway Co.

   

1,132,300

 

146,815,629

 
    

327,280,475

 

Denmark - 6.4%

     

Coloplast A/S, Cl. B

   

923,000

 

122,531,667

 

Novo Nordisk A/S, Cl. B

   

2,236,500

 

267,422,959

 
    

389,954,626

 

Finland - 1.5%

     

Kone OYJ, Cl. B

   

1,905,000

 

 93,253,976

 

France - 14.2%

     

Air Liquide SA

   

844,100

 

171,526,868

 

Dassault Systemes SE

   

2,371,400

a 

110,811,942

 

Hermes International SCA

   

42,000

a 

105,402,569

 

L'Oreal SA

   

342,000

 

163,693,125

 

LVMH Moet Hennessy Louis Vuitton SE

   

203,500

 

186,379,344

 

TotalEnergies SE

   

2,126,000

 

136,030,667

 
    

873,844,515

 

Germany - 7.0%

     

adidas AG

   

663,300

a 

134,217,093

 

Merck KGaA

   

747,400

a 

127,517,178

 

SAP SE

   

896,000

 

167,430,669

 
    

429,164,940

 

Hong Kong - 5.7%

     

AIA Group Ltd.

   

13,412,000

a 

108,533,449

 

CLP Holdings Ltd.

   

9,862,500

 

82,403,326

 

Hang Lung Properties Ltd.

   

29,108,000

 

31,513,552

 

Jardine Matheson Holdings Ltd.

   

983,100

 

41,267,809

 

Prudential PLC

   

8,634,900

a 

85,329,646

 
    

349,047,782

 

Ireland - 2.3%

     

Experian PLC

   

3,308,000

 

 141,656,602

 

Italy - 1.5%

     

Ferrari NV

   

211,400

 

 89,206,478

 

Japan - 19.0%

     

Daikin Industries Ltd.

   

647,400

 

90,988,537

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 99.1% (continued)

     

Japan - 19.0% (continued)

     

FANUC Corp.

   

2,576,000

b 

75,309,232

 

Hoya Corp.

   

1,065,100

 

138,931,437

 

Keyence Corp.

   

427,280

 

200,503,441

 

MISUMI Group, Inc.

   

1,837,800

 

28,157,304

 

Murata Manufacturing Co. Ltd.

   

5,700,000

b 

115,863,171

 

Shin-Etsu Chemical Co. Ltd.

   

3,669,500

 

156,727,454

 

SMC Corp.

   

271,400

 

163,708,597

 

Sysmex Corp.

   

1,382,900

b 

77,866,419

 

Terumo Corp.

   

3,014,900

 

117,661,929

 
    

1,165,717,521

 

Netherlands - 9.2%

     

ASM International NV

   

251,000

a 

154,128,451

 

ASML Holding NV

   

297,790

 

281,745,396

 

Universal Music Group NV

   

2,053,200

a 

61,877,880

 

Wolters Kluwer NV

   

415,500

 

65,505,004

 
    

563,256,731

 

Spain - 3.2%

     

Amadeus IT Group SA

   

860,700

 

50,582,956

 

Industria de Diseno Textil SA

   

3,279,000

a 

145,323,594

 
    

195,906,550

 

Sweden - 1.6%

     

Atlas Copco AB, Cl. B

   

6,766,700

 

 101,368,008

 

Switzerland - 11.4%

     

Kuehne + Nagel International AG

   

374,300

a 

126,016,632

 

Lonza Group AG

   

198,600

 

103,943,246

 

Nestle SA

   

1,000,000

 

103,920,963

 

Novartis AG

   

1,339,800

 

135,432,319

 

Roche Holding AG

   

409,500

 

107,334,015

 

SGS SA

   

1,271,000

 

121,990,900

 
    

698,638,075

 

Taiwan - 3.3%

     

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

   

1,574,600

 

 202,603,782

 

United Kingdom - 4.1%

     

Compass Group PLC

   

4,979,000

 

136,437,919

 

Diageo PLC

   

3,088,600

b 

115,561,855

 
    

251,999,774

 

Total Common Stocks (cost $3,650,278,753)

   

6,081,102,106

 


        
 
  

1-Day
Yield (%)

     

Investment Companies - .6%

     

Registered Investment Companies - .6%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares
(cost $36,953,194)

 

5.41

 

36,953,194

c 

 36,953,194

 
        

Investment of Cash Collateral for Securities Loaned - .0%

     

Registered Investment Companies - .0%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares
(cost $738,076)

 

5.41

 

738,076

c 

 738,076

 

Total Investments (cost $3,687,970,023)

 

99.7%

 

6,118,793,376

 

Cash and Receivables (Net)

 

.3%

 

19,175,675

 

Net Assets

 

100.0%

 

6,137,969,051

 

ADR—American Depositary Receipt

a Non-income producing security.

b Security, or portion thereof, on loan. At February 29, 2024, the value of the fund’s securities on loan was $5,334,899 and the value of the collateral was $5,690,461, consisting of cash collateral of $738,076 and U.S. Government & Agency securities valued at $4,952,385. 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 (Unaudited) (continued)

The following is a summary of the inputs used as of February 29, 2024 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

529,884,257

5,551,217,849

†† 

-

6,081,102,106

 

Investment Companies

37,691,270

-

 

-

37,691,270

 

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

†† Securities classified within Level 2 at period end as the values were determined pursuant to the fund’s fair valuation procedures.


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:

The Company’s Board of Directors (the “Board”) has designated the Adviser as the fund’s valuation designee to make all fair value determinations with respect to the fund’s portfolio investments, subject to the Board’s oversight and pursuant to Rule 2a-5 under the Act.


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 February 29, 2024, accumulated net unrealized appreciation on investments was $2,430,823,353, consisting of $2,663,370,171 gross unrealized appreciation and $232,546,218 gross unrealized depreciation.


At February 29, 2024, 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.