STATEMENT OF INVESTMENTS
BNY Mellon Investment Portfolios, MidCap Stock Portfolio
September 30, 2024 (Unaudited)
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Description | | | | Shares | | Value ($) | |
Common Stocks - 99.5% | | | | | |
Automobiles & Components - 1.5% | | | | | |
Adient PLC | | | | 25,724 | a | 580,591 | |
Autoliv, Inc. | | | | 7,358 | | 687,016 | |
Fox Factory Holding Corp. | | | | 1,000 | a | 41,500 | |
Lear Corp. | | | | 5,518 | | 602,290 | |
The Goodyear Tire & Rubber Company | | | | 1,854 | a | 16,408 | |
Thor Industries, Inc. | | | | 1,124 | | 123,516 | |
Visteon Corp. | | | | 3,526 | a | 335,816 | |
| | | | 2,387,137 | |
Banks - 4.9% | | | | | |
Bank OZK | | | | 21,812 | | 937,698 | |
Columbia Banking System, Inc. | | | | 34,003 | | 887,818 | |
Commerce Bancshares, Inc. | | | | 9,616 | | 571,190 | |
East West Bancorp, Inc. | | | | 8,794 | | 727,616 | |
First Financial Bankshares, Inc. | | | | 19,798 | | 732,724 | |
Hancock Whitney Corp. | | | | 11,328 | | 579,654 | |
International Bancshares Corp. | | | | 2,273 | | 135,903 | |
UMB Financial Corp. | | | | 4,934 | | 518,613 | |
Wintrust Financial Corp. | | | | 18,436 | | 2,000,859 | |
Zions Bancorp NA | | | | 15,450 | | 729,549 | |
| | | | 7,821,624 | |
Capital Goods - 18.2% | | | | | |
Acuity Brands, Inc. | | | | 4,345 | | 1,196,570 | |
Advanced Drainage Systems, Inc. | | | | 4,383 | | 688,832 | |
Applied Industrial Technologies, Inc. | | | | 3,861 | | 861,505 | |
Armstrong World Industries, Inc. | | | | 9,671 | | 1,271,060 | |
Axon Enterprise, Inc. | | | | 4,722 | a | 1,886,911 | |
BWX Technologies, Inc. | | | | 5,384 | | 585,241 | |
Carlisle Cos., Inc. | | | | 3,502 | | 1,575,024 | |
Comfort Systems USA, Inc. | | | | 1,638 | | 639,393 | |
Core & Main, Inc., CI. A | | | | 7,186 | a | 319,058 | |
Donaldson Co., Inc. | | | | 16,760 | | 1,235,212 | |
EMCOR Group, Inc. | | | | 7,769 | | 3,344,788 | |
EnerSys | | | | 6,593 | | 672,816 | |
Esab Corp. | | | | 7,210 | | 766,495 | |
Fluor Corp. | | | | 20,059 | a | 957,015 | |
Fortune Brands Innovations, Inc. | | | | 27,696 | | 2,479,623 | |
Generac Holdings, Inc. | | | | 1,081 | a | 171,749 | |
Graco, Inc. | | | | 13,827 | | 1,210,001 | |
ITT, Inc. | | | | 13,084 | | 1,956,189 | |
Kennametal, Inc. | | | | 1,987 | | 51,523 | |
Lennox International, Inc. | | | | 467 | | 282,203 | |
Lincoln Electric Holdings, Inc. | | | | 7,748 | | 1,487,771 | |
MSC Industrial Direct Co., Inc., Cl. A | | | | 7,603 | | 654,314 | |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
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Description | | | | Shares | | Value ($) | |
Common Stocks - 99.5% (continued) | | | | | |
Capital Goods - 18.2% (continued) | | | | | |
NEXTracker, Inc., Cl. A | | | | 7,235 | a | 271,168 | |
Owens Corning | | | | 2,208 | | 389,756 | |
Sunrun, Inc. | | | | 10,289 | a | 185,819 | |
The Timken Company | | | | 9,781 | | 824,440 | |
Trex Co., Inc. | | | | 9,009 | a | 599,819 | |
UFP Industries, Inc. | | | | 1,557 | | 204,294 | |
Watts Water Technologies, Inc., Cl. A | | | | 10,459 | | 2,167,000 | |
WESCO International, Inc. | | | | 1,982 | | 332,936 | |
| | | | 29,268,525 | |
Commercial & Professional Services - 1.0% | | | | | |
ExlService Holdings, Inc. | | | | 7,065 | a | 269,530 | |
Exponent, Inc. | | | | 4,943 | | 569,829 | |
Genpact Ltd. | | | | 11,263 | | 441,622 | |
MSA Safety, Inc. | | | | 402 | | 71,291 | |
The Brink's Company | | | | 2,233 | | 258,224 | |
| | | | 1,610,496 | |
Consumer Discretionary Distribution & Retail - 3.2% | | | | | |
Abercrombie & Fitch Co., Cl. A | | | | 2,450 | a | 342,755 | |
AutoNation, Inc. | | | | 330 | a | 59,044 | |
Bath & Body Works, Inc. | | | | 2,988 | | 95,377 | |
Burlington Stores, Inc. | | | | 2,617 | a | 689,527 | |
Dick's Sporting Goods, Inc. | | | | 2,051 | | 428,044 | |
Etsy, Inc. | | | | 4,238 | a | 235,336 | |
Kohl's Corp. | | | | 13,094 | b | 276,283 | |
Murphy USA, Inc. | | | | 356 | | 175,462 | |
RH | | | | 631 | a | 211,025 | |
The Gap, Inc. | | | | 47,284 | | 1,042,612 | |
Williams-Sonoma, Inc. | | | | 9,860 | b | 1,527,511 | |
| | | | 5,082,976 | |
Consumer Durables & Apparel - 5.6% | | | | | |
Carter's, Inc. | | | | 12,193 | b | 792,301 | |
Columbia Sportswear Co. | | | | 5,289 | b | 439,992 | |
Crocs, Inc. | | | | 4,938 | a | 715,072 | |
Deckers Outdoor Corp. | | | | 4,449 | a | 709,393 | |
Helen of Troy Ltd. | | | | 6,085 | a | 376,357 | |
KB Home | | | | 3,668 | | 314,311 | |
Lennar Corp., Cl. A | | | | 1,374 | | 257,598 | |
Mattel, Inc. | | | | 19,864 | a | 378,409 | |
PVH Corp. | | | | 2,238 | | 225,658 | |
Ralph Lauren Corp. | | | | 934 | | 181,075 | |
Skechers USA, Inc., Cl. A | | | | 18,083 | a | 1,210,114 | |
Tempur Sealy International, Inc. | | | | 14,218 | | 776,303 | |
Toll Brothers, Inc. | | | | 4,001 | | 618,114 | |
TopBuild Corp. | | | | 3,835 | a | 1,560,116 | |
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Description | | | | Shares | | Value ($) | |
Common Stocks - 99.5% (continued) | | | | | |
Consumer Durables & Apparel - 5.6% (continued) | | | | | |
YETI Holdings, Inc. | | | | 10,271 | a | 421,419 | |
| | | | 8,976,232 | |
Consumer Services - 3.6% | | | | | |
Aramark | | | | 2,865 | | 110,961 | |
Boyd Gaming Corp. | | | | 13,367 | | 864,177 | |
Cracker Barrel Old Country Store, Inc. | | | | 857 | b | 38,865 | |
Duolingo, Inc. | | | | 2,407 | a | 678,822 | |
Expedia Group, Inc. | | | | 835 | a | 123,597 | |
Graham Holdings Co., Cl. B | | | | 600 | | 493,032 | |
Grand Canyon Education, Inc. | | | | 7,368 | a | 1,045,151 | |
H&R Block, Inc. | | | | 11,118 | | 706,549 | |
Light & Wonder, Inc. | | | | 6,862 | a | 622,589 | |
MGM Resorts International | | | | 5,663 | a | 221,367 | |
Travel + Leisure Co. | | | | 8,260 | | 380,621 | |
Vail Resorts, Inc. | | | | 1,663 | | 289,844 | |
Wingstop, Inc. | | | | 351 | | 146,044 | |
| | | | 5,721,619 | |
Consumer Staples Distribution & Retail - 3.3% | | | | | |
Casey's General Stores, Inc. | | | | 2,383 | | 895,317 | |
Grocery Outlet Holding Corp. | | | | 710 | a | 12,461 | |
Performance Food Group Co. | | | | 15,913 | a | 1,247,102 | |
Sprouts Farmers Market, Inc. | | | | 13,813 | a | 1,525,093 | |
US Foods Holding Corp. | | | | 27,778 | a | 1,708,347 | |
| | | | 5,388,320 | |
Energy - 5.0% | | | | | |
Antero Midstream Corp. | | | | 33,794 | | 508,600 | |
Antero Resources Corp. | | | | 1,457 | a | 41,743 | |
ChampionX Corp. | | | | 36,477 | | 1,099,782 | |
CNX Resources Corp. | | | | 44,889 | a | 1,462,035 | |
Diamondback Energy, Inc. | | | | 3,643 | | 628,053 | |
Halliburton Co. | | | | 16,617 | | 482,724 | |
HF Sinclair Corp. | | | | 8,180 | | 364,583 | |
Matador Resources Co. | | | | 10,017 | | 495,040 | |
Murphy Oil Corp. | | | | 48,261 | | 1,628,326 | |
Range Resources Corp. | | | | 8,650 | | 266,074 | |
Texas Pacific Land Corp. | | | | 684 | b | 605,162 | |
Vitesse Energy, Inc. | | | | 1,659 | b | 39,849 | |
Weatherford International PLC | | | | 5,787 | | 491,432 | |
| | | | 8,113,403 | |
Equity Real Estate Investment Trusts - 8.6% | | | | | |
Brixmor Property Group, Inc. | | | | 30,127 | c | 839,338 | |
Camden Property Trust | | | | 1,849 | c | 228,407 | |
COPT Defense Properties | | | | 17,570 | c | 532,898 | |
Cousins Properties, Inc. | | | | 40,683 | c | 1,199,335 | |
CubeSmart | | | | 9,736 | c | 524,089 | |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
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Description | | | | Shares | | Value ($) | |
Common Stocks - 99.5% (continued) | | | | | |
Equity Real Estate Investment Trusts - 8.6% (continued) | | | | | |
EastGroup Properties, Inc. | | | | 6,219 | c | 1,161,834 | |
EPR Properties | | | | 6,200 | c | 304,048 | |
Equity Lifestyle Properties, Inc. | | | | 7,840 | c | 559,306 | |
First Industrial Realty Trust, Inc. | | | | 18,917 | c | 1,058,974 | |
Gaming & Leisure Properties, Inc. | | | | 13,497 | c | 694,421 | |
Highwoods Properties, Inc. | | | | 3,968 | b,c | 132,968 | |
Kilroy Realty Corp. | | | | 26,645 | c | 1,031,161 | |
Lamar Advertising Co., Cl. A | | | | 8,073 | c | 1,078,553 | |
National Storage Affiliates Trust | | | | 1,777 | c | 85,651 | |
NNN REIT, Inc. | | | | 34,840 | c | 1,689,392 | |
Park Hotels & Resorts, Inc. | | | | 11,201 | c | 157,934 | |
Rayonier, Inc. | | | | 4,284 | c | 137,859 | |
Sabra Health Care REIT, Inc. | | | | 47,404 | c | 882,188 | |
STAG Industrial, Inc. | | | | 21,489 | c | 840,005 | |
Vornado Realty Trust | | | | 15,906 | a,c | 626,696 | |
| | | | 13,765,057 | |
Financial Services - 4.8% | | | | | |
Ally Financial, Inc. | | | | 17,944 | | 638,627 | |
Equitable Holdings, Inc. | | | | 10,490 | | 440,895 | |
Essent Group Ltd. | | | | 11,003 | | 707,383 | |
Euronet Worldwide, Inc. | | | | 8,477 | a | 841,173 | |
Federated Hermes, Inc. | | | | 30,372 | | 1,116,778 | |
FirstCash Holdings, Inc. | | | | 1,589 | | 182,417 | |
Janus Henderson Group PLC | | | | 15,896 | | 605,161 | |
MGIC Investment Corp. | | | | 21,450 | | 549,120 | |
Morningstar, Inc. | | | | 802 | | 255,934 | |
SEI Investments Co. | | | | 17,807 | | 1,232,066 | |
SLM Corp. | | | | 8,254 | | 188,769 | |
Stifel Financial Corp. | | | | 2,100 | | 197,190 | |
T. Rowe Price Group, Inc. | | | | 636 | | 69,279 | |
The Western Union Company | | | | 20,923 | | 249,611 | |
WEX, Inc. | | | | 1,807 | a | 378,982 | |
| | | | 7,653,385 | |
Food, Beverage & Tobacco - 2.1% | | | | | |
Celsius Holdings, Inc. | | | | 13,181 | a | 413,356 | |
Coca-Cola Consolidated, Inc. | | | | 562 | | 739,817 | |
Flowers Foods, Inc. | | | | 19,233 | | 443,705 | |
Hormel Foods Corp. | | | | 11,862 | | 376,025 | |
Ingredion, Inc. | | | | 2,727 | | 374,772 | |
Lancaster Colony Corp. | | | | 2,034 | | 359,143 | |
Post Holdings, Inc. | | | | 274 | a | 31,716 | |
The Boston Beer Company, Inc., Cl. A | | | | 2,111 | a | 610,375 | |
| | | | 3,348,909 | |
Health Care Equipment & Services - 5.1% | | | | | |
Acadia Healthcare Co., Inc. | | | | 264 | a | 16,740 | |
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Description | | | | Shares | | Value ($) | |
Common Stocks - 99.5% (continued) | | | | | |
Health Care Equipment & Services - 5.1% (continued) | | | | | |
Amedisys, Inc. | | | | 1,745 | a | 168,410 | |
Chemed Corp. | | | | 2,342 | | 1,407,472 | |
Dentsply Sirona, Inc. | | | | 14,696 | | 397,674 | |
DexCom, Inc. | | | | 2,108 | a | 141,320 | |
Doximity, Inc., Cl. A | | | | 15,293 | a,b | 666,316 | |
Encompass Health Corp. | | | | 2,830 | | 273,491 | |
Envista Holdings Corp. | | | | 4,776 | a | 94,374 | |
Haemonetics Corp. | | | | 7,886 | a,b | 633,877 | |
HealthEquity, Inc. | | | | 5,901 | a | 482,997 | |
IDEXX Laboratories, Inc. | | | | 157 | a | 79,320 | |
Lantheus Holdings, Inc. | | | | 2,393 | a | 262,632 | |
LivaNova PLC | | | | 6,125 | a | 321,808 | |
Masimo Corp. | | | | 1,575 | a | 209,995 | |
Omnicell, Inc. | | | | 2,713 | a | 118,287 | |
Option Care Health, Inc. | | | | 22,841 | a | 714,923 | |
Penumbra, Inc. | | | | 2,626 | a | 510,258 | |
Progyny, Inc. | | | | 10,748 | a,b | 180,136 | |
QuidelOrtho Corp. | | | | 382 | a | 17,419 | |
ResMed, Inc. | | | | 650 | | 158,678 | |
STAAR Surgical Co. | | | | 1,347 | a | 50,041 | |
Teladoc Health, Inc. | | | | 19,018 | a | 174,585 | |
Tenet Healthcare Corp. | | | | 6,562 | a | 1,090,604 | |
| | | | 8,171,357 | |
Household & Personal Products - .1% | | | | | |
e.l.f. Beauty, Inc. | | | | 1,682 | a,b | 183,388 | |
Energizer Holdings, Inc. | | | | 1,932 | | 61,360 | |
| | | | 244,748 | |
Insurance - 5.9% | | | | | |
CNO Financial Group, Inc. | | | | 23,347 | | 819,480 | |
Erie Indemnity Co., Cl. A | | | | 1,204 | | 649,943 | |
Fidelity National Financial, Inc. | | | | 9,031 | | 560,464 | |
Globe Life, Inc. | | | | 3,120 | | 330,439 | |
Kinsale Capital Group, Inc. | | | | 1,712 | b | 797,056 | |
Loews Corp. | | | | 5,121 | | 404,815 | |
Primerica, Inc. | | | | 4,848 | | 1,285,447 | |
Reinsurance Group of America, Inc. | | | | 2,236 | | 487,157 | |
RenaissanceRe Holdings Ltd. | | | | 9,702 | | 2,642,825 | |
Ryan Specialty Holdings, Inc. | | | | 5,188 | | 344,431 | |
Unum Group | | | | 18,583 | | 1,104,574 | |
| | | | 9,426,631 | |
Materials - 7.0% | | | | | |
Ashland, Inc. | | | | 7,523 | | 654,275 | |
Avient Corp. | | | | 1,993 | | 100,288 | |
Axalta Coating Systems Ltd. | | | | 17,573 | a | 635,967 | |
Cabot Corp. | | | | 10,937 | | 1,222,428 | |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
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Description | | | | Shares | | Value ($) | |
Common Stocks - 99.5% (continued) | | | | | |
Materials - 7.0% (continued) | | | | | |
Cleveland-Cliffs, Inc. | | | | 68,393 | a | 873,379 | |
Commercial Metals Co. | | | | 8,927 | | 490,628 | |
Crown Holdings, Inc. | | | | 6,777 | | 649,779 | |
Eagle Materials, Inc. | | | | 8,164 | | 2,348,375 | |
Greif, Inc., Cl. A | | | | 5,245 | | 328,652 | |
Knife River Corp. | | | | 2,140 | a | 191,295 | |
Louisiana-Pacific Corp. | | | | 2,007 | | 215,672 | |
NewMarket Corp. | | | | 1,256 | | 693,174 | |
Olin Corp. | | | | 5,137 | | 246,473 | |
Reliance, Inc. | | | | 2,743 | | 793,303 | |
RPM International, Inc. | | | | 9,336 | | 1,129,656 | |
Sonoco Products Co. | | | | 3,084 | | 168,479 | |
The Scotts Miracle-Gro Company | | | | 5,608 | | 486,214 | |
| | | | 11,228,037 | |
Media & Entertainment - 2.4% | | | | | |
Match Group, Inc. | | | | 8,027 | a | 303,742 | |
Nexstar Media Group, Inc. | | | | 2,168 | b | 358,479 | |
Pinterest, Inc., Cl. A | | | | 29,215 | a | 945,690 | |
Roku, Inc. | | | | 479 | a | 35,762 | |
Spotify Technology SA | | | | 1,654 | a | 609,549 | |
TEGNA, Inc. | | | | 10,880 | b | 171,686 | |
The New York Times Company, Cl. A | | | | 14,838 | | 826,031 | |
Ziff Davis, Inc. | | | | 9,896 | a | 481,539 | |
ZoomInfo Technologies, Inc. | | | | 15,907 | a | 164,160 | |
| | | | 3,896,638 | |
Pharmaceuticals, Biotechnology & Life Sciences - 4.0% | | | | | |
Agilent Technologies, Inc. | | | | 3,009 | | 446,776 | |
Avantor, Inc. | | | | 17,135 | a | 443,282 | |
Azenta, Inc. | | | | 11,067 | a | 536,085 | |
BioMarin Pharmaceutical, Inc. | | | | 5,711 | a | 401,426 | |
Exelixis, Inc. | | | | 44,132 | a | 1,145,225 | |
Halozyme Therapeutics, Inc. | | | | 9,493 | a | 543,379 | |
Jazz Pharmaceuticals PLC | | | | 3,384 | a | 377,011 | |
Medpace Holdings, Inc. | | | | 3,639 | a | 1,214,698 | |
Neurocrine Biosciences, Inc. | | | | 3,742 | a | 431,153 | |
Repligen Corp. | | | | 2,368 | a | 352,406 | |
United Therapeutics Corp. | | | | 1,539 | a | 551,501 | |
| | | | 6,442,942 | |
Real Estate Management & Development - .4% | | | | | |
Jones Lang LaSalle, Inc. | | | | 2,379 | a | 641,878 | |
Semiconductors & Semiconductor Equipment - 2.1% | | | | | |
Amkor Technology, Inc. | | | | 36,916 | | 1,129,630 | |
Cirrus Logic, Inc. | | | | 3,698 | a | 459,329 | |
MKS Instruments, Inc. | | | | 2,507 | | 272,536 | |
Monolithic Power Systems, Inc. | | | | 196 | | 181,202 | |
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Description | | | | Shares | | Value ($) | |
Common Stocks - 99.5% (continued) | | | | | |
Semiconductors & Semiconductor Equipment - 2.1% (continued) | | | | | |
Power Integrations, Inc. | | | | 4,011 | | 257,185 | |
Rambus, Inc. | | | | 27,480 | a | 1,160,206 | |
Wolfspeed, Inc. | | | | 508 | a,b | 4,928 | |
| | | | 3,465,016 | |
Software & Services - 3.7% | | | | | |
Ansys, Inc. | | | | 370 | a | 117,893 | |
AppFolio, Inc., Cl. A | | | | 1,790 | a | 421,366 | |
ASGN, Inc. | | | | 7,745 | a | 722,066 | |
Blackbaud, Inc. | | | | 1,082 | a | 91,624 | |
Commvault Systems, Inc. | | | | 5,722 | a | 880,330 | |
DocuSign, Inc. | | | | 7,658 | a | 475,485 | |
Dolby Laboratories, Inc., Cl. A | | | | 1,646 | | 125,968 | |
Dropbox, Inc., CI. A | | | | 14,672 | a | 373,109 | |
GoDaddy, Inc., Cl. A | | | | 1,658 | a | 259,941 | |
HubSpot, Inc. | | | | 487 | a | 258,889 | |
Manhattan Associates, Inc. | | | | 2,239 | a | 630,010 | |
MongoDB, Inc. | | | | 815 | a | 220,335 | |
Pegasystems, Inc. | | | | 3,018 | | 220,586 | |
Qualys, Inc. | | | | 3,752 | a | 481,982 | |
Smartsheet, Inc., Cl. A | | | | 6,825 | a | 377,832 | |
Teradata Corp. | | | | 12,075 | a | 366,355 | |
| | | | 6,023,771 | |
Technology Hardware & Equipment - 2.0% | | | | | |
Belden, Inc. | | | | 2,746 | | 321,639 | |
Ciena Corp. | | | | 13,220 | a | 814,220 | |
Crane NXT Co. | | | | 8,956 | b | 502,432 | |
IPG Photonics Corp. | | | | 3,655 | a | 271,640 | |
Littelfuse, Inc. | | | | 453 | | 120,158 | |
Novanta, Inc. | | | | 3,179 | a | 568,787 | |
Pure Storage, Inc., Cl. A | | | | 7,698 | a | 386,748 | |
Vontier Corp. | | | | 8,231 | | 277,714 | |
Xerox Holdings Corp. | | | | 3,223 | b | 33,455 | |
| | | | 3,296,793 | |
Telecommunication Services - .3% | | | | | |
Iridium Communications, Inc. | | | | 6,800 | | 207,060 | |
Lumen Technologies, Inc. | | | | 39,539 | a | 280,727 | |
| | | | 487,787 | |
Transportation - .3% | | | | | |
Avis Budget Group, Inc. | | | | 727 | a,b | 63,678 | |
Hertz Global Holdings, Inc. | | | | 67,743 | a,b | 223,552 | |
RXO, Inc. | | | | 2,235 | a | 62,580 | |
Ryder System, Inc. | | | | 1,074 | | 156,589 | |
| | | | 506,399 | |
Utilities - 4.4% | | | | | |
ALLETE, Inc. | | | | 12,169 | | 781,128 | |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
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Description | | | | Shares | | Value ($) | |
Common Stocks - 99.5% (continued) | | | | | |
Utilities - 4.4% (continued) | | | | | |
National Fuel Gas Co. | | | | 10,841 | | 657,073 | |
New Jersey Resources Corp. | | | | 27,496 | | 1,297,811 | |
NorthWestern Energy Group, Inc. | | | | 15,518 | | 887,940 | |
ONE Gas, Inc. | | | | 12,872 | | 957,934 | |
UGI Corp. | | | | 23,076 | | 577,362 | |
Vistra Corp. | | | | 16,308 | | 1,933,150 | |
| | | | 7,092,398 | |
Total Common Stocks (cost $128,657,790) | | | | 160,062,078 | |
| | 1-Day Yield (%) | | | | | |
Investment Companies - .6% | | | | | |
Registered Investment Companies - .6% | | | | | |
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares (cost $982,983) | | 4.95 | | 982,983 | d | 982,983 | |
| | | | | | | |
Investment of Cash Collateral for Securities Loaned - .0% | | | | | |
Registered Investment Companies - .0% | | | | | |
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares (cost $34,746) | | 4.95 | | 34,746 | d | 34,746 | |
Total Investments (cost $129,675,519) | | 100.1% | | 161,079,807 | |
Liabilities, Less Cash and Receivables | | (.1%) | | (189,074) | |
Net Assets | | 100.0% | | 160,890,733 | |
REIT—Real Estate Investment Trust
a Non-income producing security.
b Security, or portion thereof, on loan. At September 30, 2024, the value of the fund’s securities on loan was $5,899,930 and the value of the collateral was $6,062,366, consisting of cash collateral of $34,746 and U.S. Government & Agency securities valued at $6,027,620. In addition, the value of collateral may include pending sales that are also on loan.
c Investment in real estate investment trust domiciled in the United States.
d Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company’s prospectus.
See notes to financial statements.
The following is a summary of the inputs used as of September 30, 2024 in valuing the fund’s investments:
| | | | | | |
| Level 1-Unadjusted Quoted Prices | Level 2- Other Significant Observable Inputs | | Level 3-Significant Unobservable Inputs | Total | |
Assets ($) | | |
Investments in Securities:† | | |
Equity Securities - Common Stocks | 160,062,078 | - | | - | 160,062,078 | |
Investment Companies | 1,017,729 | - | | - | 1,017,729 | |
† 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:
The Trust’s Board of Trustees (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.
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 September 30, 2024, accumulated net unrealized appreciation on investments was $31,404,288, consisting of $37,196,792 gross unrealized appreciation and $5,792,504 gross unrealized depreciation.
At September 30, 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.