STATEMENT OF INVESTMENTS
BNY Mellon Select Managers Small Cap Growth Fund
February 29, 2020 (Unaudited)
Description | Shares | Value ($) | |||||
Common Stocks - 95.6% | |||||||
Automobiles & Components - 2.1% | |||||||
Dorman Products | 19,449 | a,b | 1,179,387 | ||||
Fox Factory Holding | 38,668 | a,b | 2,451,551 | ||||
Gentex | 26,944 | 719,405 | |||||
LCI Industries | 35,906 | 3,466,724 | |||||
Visteon | 20,321 | a,b | 1,321,678 | ||||
Winnebago Industries | 24,166 | 1,253,974 | |||||
10,392,719 | |||||||
Banks - 2.8% | |||||||
Axos Financial | 121,777 | b | 3,033,465 | ||||
Bank OZK | 49,575 | 1,258,709 | |||||
Central Pacific Financial | 24,280 | 580,778 | |||||
Columbia Banking System | 16,762 | 556,498 | |||||
Essent Group | 6,804 | 296,927 | |||||
Federal Agricultural Mortgage, Cl. C | 12,517 | 939,526 | |||||
First Commonwealth Financial | 37,499 | 442,488 | |||||
First Financial Bankshares | 39,687 | 1,140,604 | |||||
First Foundation | 24,176 | 349,948 | |||||
National Bank Holdings, Cl. A | 23,560 | 720,700 | |||||
Pacific Premier Bancorp | 43,860 | a | 1,132,904 | ||||
Pennymac Financial Services | 20,541 | a | 724,276 | ||||
Seacoast Banking Corp. of Florida | 42,806 | b | 1,065,869 | ||||
Texas Capital Bancshares | 28,212 | b | 1,328,221 | ||||
Walker & Dunlop | 11,491 | 745,191 | |||||
14,316,104 | |||||||
Capital Goods - 11.1% | |||||||
AAON | 36,836 | a | 2,026,348 | ||||
Advanced Drainage Systems | 21,917 | 917,446 | |||||
AECOM | 16,955 | b | 761,958 | ||||
AeroVironment | 12,872 | b | 661,492 | ||||
Albany International, Cl. A | 9,592 | 614,559 | |||||
Ameresco, Cl. A | 36,354 | a,b | 819,419 | ||||
Arcosa | 19,085 | 819,892 | |||||
Armstrong World Industries | 35,569 | 3,562,235 | |||||
Atkore International Group | 24,967 | b | 921,532 | ||||
Axon Enterprise | 10,943 | b | 846,660 | ||||
Barnes Group | 24,800 | 1,331,760 | |||||
BMC Stock Holdings | 23,156 | b | 568,017 | ||||
Builders FirstSource | 38,921 | b | 883,896 | ||||
Chart Industries | 33,844 | b | 1,926,400 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 95.6% (continued) | |||||||
Capital Goods - 11.1% (continued) | |||||||
Cubic | 13,739 | a | 747,951 | ||||
Donaldson | 38,655 | 1,742,567 | |||||
Encore Wire | 14,596 | 714,766 | |||||
ESCO Technologies | 21,375 | 1,943,415 | |||||
Generac Holdings | 24,428 | a,b | 2,515,839 | ||||
Gibraltar Industries | 14,946 | b | 757,314 | ||||
H&E Equipment Services | 29,987 | 712,491 | |||||
Kornit Digital | 36,248 | b | 1,444,483 | ||||
Kratos Defense & Security Solutions | 69,312 | a,b | 1,127,013 | ||||
Masonite International | 59,031 | b | 4,338,779 | ||||
Mercury Systems | 14,487 | b | 1,064,215 | ||||
Moog, Cl. A | 11,747 | 905,929 | |||||
MSC Industrial Direct, Cl. A | 8,596 | 531,405 | |||||
Parsons | 21,045 | b | 822,649 | ||||
PGT Innovations | 89,067 | b | 1,351,146 | ||||
Plug Power | 219,451 | a,b | 952,417 | ||||
Proto Labs | 16,035 | b | 1,405,307 | ||||
RBC Bearings | 17,140 | b | 2,934,197 | ||||
SiteOne Landscape Supply | 46,717 | a,b | 4,636,663 | ||||
Sunrun | 41,534 | a,b | 803,268 | ||||
Terex | 30,383 | 668,730 | |||||
The Middleby | 5,039 | a,b | 563,411 | ||||
Trex | 48,046 | a,b | 4,595,600 | ||||
Universal Forest Products | 15,406 | 721,925 | |||||
Vicor | 8,791 | b | 380,123 | ||||
Virgin Galactic Holdings | 26,472 | b | 651,211 | ||||
55,694,428 | |||||||
Commercial & Professional Services - 4.3% | |||||||
Brady, Cl. A | 21,759 | 1,030,071 | |||||
Casella Waste Systems, Cl. A | 16,329 | b | 791,140 | ||||
CBIZ | 47,419 | b | 1,234,791 | ||||
Cimpress | 20,437 | a,b | 2,379,071 | ||||
Clean Harbors | 7,408 | b | 515,004 | ||||
Deluxe | 20,659 | 687,945 | |||||
Exponent | 70,032 | 5,157,857 | |||||
Franklin Covey | 21,554 | b | 677,873 | ||||
FTI Consulting | 7,840 | b | 882,706 | ||||
Huron Consulting Group | 12,836 | b | 761,688 | ||||
IAA | 17,192 | 734,442 | |||||
ICF International | 7,472 | 567,723 | |||||
McGrath RentCorp | 24,849 | 1,725,763 | |||||
Tetra Tech | 22,667 | 1,833,080 | |||||
The Brink's Company | 17,572 | 1,375,712 |
Description | Shares | Value ($) | |||||
Common Stocks - 95.6% (continued) | |||||||
Commercial & Professional Services - 4.3% (continued) | |||||||
Willdan Group | 45,544 | a,b | 1,400,478 | ||||
21,755,344 | |||||||
Consumer Durables & Apparel - 2.2% | |||||||
Acushnet Holdings | 23,975 | 610,164 | |||||
Callaway Golf | 77,629 | a | 1,318,140 | ||||
Clarus | 32,698 | a | 377,989 | ||||
Deckers Outdoor | 15,119 | b | 2,627,682 | ||||
Helen of Troy | 5,116 | b | 842,094 | ||||
Installed Building Products | 8,095 | b | 534,675 | ||||
KB Home | 49,282 | 1,606,101 | |||||
Kontoor Brands | 6,847 | a | 231,018 | ||||
LGI Homes | 9,972 | b | 751,390 | ||||
Skyline Champion | 41,718 | b | 1,062,975 | ||||
Tempur Sealy International | 6,941 | b | 518,840 | ||||
TopBuild | 4,857 | b | 490,557 | ||||
10,971,625 | |||||||
Consumer Services - 5.6% | |||||||
BJ‘s Restaurants | 5,555 | 183,037 | |||||
Bright Horizons Family Solutions | 24,111 | b | 3,789,044 | ||||
Century Casinos | 137,483 | b | 959,631 | ||||
Chegg | 16,742 | a,b | 656,454 | ||||
Churchill Downs | 7,274 | a | 913,905 | ||||
Dave & Buster's Entertainment | 83,446 | a | 2,754,552 | ||||
Eldorado Resorts | 30,028 | a,b | 1,506,805 | ||||
Frontdoor | 20,073 | b | 851,095 | ||||
Grand Canyon Education | 7,720 | b | 622,850 | ||||
Kura Sushi USA, Cl. A | 7,150 | b | 133,062 | ||||
Monarch Casino & Resort | 15,133 | b | 715,488 | ||||
Papa John's International | 48,787 | a | 2,810,619 | ||||
Penn National Gaming | 24,193 | b | 715,387 | ||||
Planet Fitness, Cl. A | 21,459 | b | 1,448,268 | ||||
Strategic Education | 26,040 | 3,837,775 | |||||
Texas Roadhouse | 30,498 | 1,714,598 | |||||
The Cheesecake Factory | 36,694 | a | 1,307,407 | ||||
Vail Resorts | 10,266 | 2,182,654 | |||||
Wingstop | 11,647 | 983,589 | |||||
28,086,220 | |||||||
Diversified Financials - .7% | |||||||
Ares Management, Cl. A | 25,546 | 883,636 | |||||
Cannae Holdings | 22,329 | b | 832,648 | ||||
Hercules Capital | 68,381 | 902,629 | |||||
PRA Group | 10,875 | b | 422,168 | ||||
Victory Capital Holdings, Cl. A | 34,838 | a | 688,747 | ||||
3,729,828 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 95.6% (continued) | |||||||
Energy - .2% | |||||||
Apergy | 24,574 | a,b | 457,076 | ||||
Oceaneering International | 52,218 | b | 550,378 | ||||
1,007,454 | |||||||
Food & Staples Retailing - .3% | |||||||
Grocery Outlet Holding | 14,195 | a,b | 449,272 | ||||
The Chefs' Warehouse | 40,137 | b | 1,228,995 | ||||
1,678,267 | |||||||
Food, Beverage & Tobacco - 2.0% | |||||||
Darling Ingredients | 33,278 | b | 855,245 | ||||
Freshpet | 50,331 | b | 3,344,998 | ||||
J&J Snack Foods | 14,453 | a | 2,324,331 | ||||
The Simply Good Foods Company | 164,431 | b | 3,627,348 | ||||
10,151,922 | |||||||
Health Care Equipment & Services - 11.1% | |||||||
Addus HomeCare | 20,900 | b | 1,594,043 | ||||
Alphatec Holdings | 96,969 | b | 567,269 | ||||
Amedisys | 6,485 | b | 1,128,455 | ||||
AMN Healthcare Services | 33,218 | b | 2,444,845 | ||||
AtriCure | 20,409 | b | 784,114 | ||||
Cantel Medical | 25,912 | a | 1,635,047 | ||||
Globus Medical, Cl. A | 34,397 | b | 1,555,776 | ||||
Guardant Health | 5,003 | a,b | 435,061 | ||||
HealthEquity | 27,276 | b | 1,936,323 | ||||
HealthStream | 38,180 | b | 928,538 | ||||
Heska | 8,910 | a,b | 850,638 | ||||
Inspire Medical Systems | 27,211 | b | 2,336,608 | ||||
Insulet | 3,831 | a,b | 727,775 | ||||
LeMaitre Vascular | 33,763 | a | 962,246 | ||||
LHC Group | 29,430 | b | 3,574,567 | ||||
Livongo Health | 16,071 | a,b | 401,936 | ||||
Masimo | 23,997 | b | 3,919,430 | ||||
Neogen | 30,751 | b | 1,868,123 | ||||
Nevro | 8,584 | b | 1,117,208 | ||||
Novocure | 11,799 | a,b | 858,377 | ||||
Omnicell | 50,522 | b | 4,116,027 | ||||
Penumbra | 7,985 | a,b | 1,324,392 | ||||
PetIQ | 45,502 | a,b | 1,415,112 | ||||
Phreesia | 45,847 | b | 1,423,091 | ||||
Premier, Cl. A | 111,280 | b | 3,274,970 | ||||
RadNet | 36,839 | b | 752,621 | ||||
Select Medical Holdings | 42,560 | b | 1,018,886 | ||||
Silk Road Medical | 14,700 | a,b | 585,795 | ||||
STAAR Surgical | 49,707 | a,b | 1,559,806 | ||||
Tabula Rasa HealthCare | 32,468 | a,b | 1,823,728 |
Description | Shares | Value ($) | |||||
Common Stocks - 95.6% (continued) | |||||||
Health Care Equipment & Services - 11.1% (continued) | |||||||
Tactile Systems Technology | 47,210 | a,b | 2,379,856 | ||||
Tandem Diabetes Care | 28,096 | b | 2,097,648 | ||||
Teladoc Health | 22,857 | a,b | 2,856,211 | ||||
Vocera Communications | 72,692 | b | 1,772,958 | ||||
56,027,480 | |||||||
Household & Personal Products - 1.0% | |||||||
Inter Parfums | 22,923 | 1,376,756 | |||||
Medifast | 31,314 | a | 2,602,507 | ||||
WD-40 | 6,976 | 1,203,290 | |||||
5,182,553 | |||||||
Insurance - 2.1% | |||||||
eHealth | 24,597 | a,b | 2,886,458 | ||||
Horace Mann Educators | 16,118 | 627,474 | |||||
Kinsale Captial Group | 36,356 | a | 4,416,163 | ||||
Palomar Holdings | 41,630 | b | 2,115,220 | ||||
ProAssurance | 22,835 | 619,970 | |||||
10,665,285 | |||||||
Materials - 1.9% | |||||||
Balchem | 21,252 | 2,007,464 | |||||
Carpenter Technology | 22,847 | 839,627 | |||||
Graphic Packaging Holding | 47,235 | 638,617 | |||||
Ingevity | 43,126 | b | 1,942,395 | ||||
Livent | 68,378 | a,b | 610,616 | ||||
Materion | 8,533 | 386,886 | |||||
Neenah | 12,550 | 725,014 | |||||
Sensient Technologies | 20,159 | a | 991,420 | ||||
The Scotts Miracle-Gro Company | 6,747 | 715,115 | |||||
U.S. Concrete | 19,532 | b | 524,239 | ||||
9,381,393 | |||||||
Media & Entertainment - 1.8% | |||||||
Cardlytics | 20,603 | a,b | 1,635,672 | ||||
Criteo, ADR | 80,522 | b | 1,020,214 | ||||
EverQuote, Cl. A | 27,878 | a,b | 1,132,404 | ||||
Nexstar Media Group, Cl. A | 6,775 | a | 778,990 | ||||
Scholastic | 26,651 | 855,231 | |||||
The New York Times Company, Cl. A | 30,069 | a | 1,126,385 | ||||
World Wrestling Entertainment, Cl. A | 57,456 | a | 2,687,217 | ||||
9,236,113 | |||||||
Pharmaceuticals Biotechnology & Life Sciences - 13.7% | |||||||
Acceleron Pharma | 10,543 | b | 905,960 | ||||
Aerie Pharmaceuticals | 79,702 | a,b | 1,394,785 | ||||
Aimmune Therapeutics | 41,949 | a,b | 998,806 | ||||
Akebia Therapeutics | 75,838 | b | 672,683 | ||||
Aprea Therapeutics | 17,066 | a,b | 585,364 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 95.6% (continued) | |||||||
Pharmaceuticals Biotechnology & Life Sciences - 13.7% (continued) | |||||||
argenx, ADR | 4,180 | a,b | 590,968 | ||||
Axsome Therapeutics | 7,339 | a,b | 572,442 | ||||
Biohaven Pharmaceutical Holding | 17,119 | b | 755,975 | ||||
BioSpecifics Technologies | 20,011 | b | 1,104,407 | ||||
Bio-Techne | 14,070 | 2,657,682 | |||||
CareDx | 75,186 | a,b | 1,752,586 | ||||
Castle Biosciences | 20,595 | a,b | 616,614 | ||||
Charles River Laboratories International | 5,351 | b | 832,455 | ||||
ChemoCentryx | 16,267 | b | 727,948 | ||||
Codexis | 58,394 | a,b | 680,290 | ||||
Collegium Pharmaceutical | 60,720 | a,b | 1,442,100 | ||||
CRISPR Therapeutics | 4,579 | a,b | 244,748 | ||||
Deciphera Pharmaceuticals | 9,605 | b | 511,370 | ||||
Eidos Therapeutics | 11,381 | a,b | 575,651 | ||||
Emergent BioSolutions | 44,806 | b | 2,629,216 | ||||
Epizyme | 35,278 | a,b | 756,008 | ||||
Esperion Therapeutics | 10,543 | a,b | 532,316 | ||||
Exact Sciences | 4,647 | a,b | 376,175 | ||||
Fate Therapeutics | 30,096 | a,b | 878,803 | ||||
Forty Seven | 17,744 | b | 1,029,152 | ||||
Global Blood Therapeutics | 36,539 | a,b | 2,337,034 | ||||
GW Pharmaceuticals, ADR | 9,601 | b | 982,278 | ||||
Halozyme Therapeutics | 67,319 | b | 1,317,433 | ||||
Horizon Therapeutics | 64,367 | b | 2,202,639 | ||||
Immunomedics | 109,536 | a,b | 1,752,576 | ||||
Insmed | 48,830 | b | 1,215,867 | ||||
Iovance Biotherapeutics | 90,217 | a,b | 2,969,042 | ||||
Karuna Therapeutics | 8,653 | b | 755,061 | ||||
Krystal Biotech | 20,909 | a,b | 1,117,586 | ||||
Ligand Pharmaceuticals | 33,269 | a,b | 3,113,979 | ||||
Medpace Holdings | 11,405 | b | 1,025,766 | ||||
Momenta Pharmaceuticals | 26,749 | b | 756,729 | ||||
MyoKardia | 19,013 | b | 1,205,234 | ||||
Myriad Genetics | 12,536 | a,b | 220,884 | ||||
NanoString Technologies | 22,890 | b | 816,257 | ||||
Natera | 27,554 | b | 1,044,434 | ||||
Nektar Therapeutics | 43,029 | a,b | 895,433 | ||||
NeoGenomics | 132,599 | a,b | 3,756,530 | ||||
Optinose | 71,583 | a,b | 433,077 | ||||
Pacira Biosciences | 30,093 | b | 1,305,434 | ||||
Portola Pharmaceuticals | 43,016 | a,b | 434,892 | ||||
Prestige Consumer Healthcare | 43,734 | a,b | 1,633,902 | ||||
Principia Biopharma | 12,610 | b | 814,102 |
Description | Shares | Value ($) | |||||
Common Stocks - 95.6% (continued) | |||||||
Pharmaceuticals Biotechnology & Life Sciences - 13.7% (continued) | |||||||
Puma Biotechnology | 29,459 | b | 316,832 | ||||
Reata Pharmaceuticals, Cl. A | 16,560 | a,b | 3,225,060 | ||||
Repligen | 31,594 | b | 2,704,447 | ||||
Revance Therapeutics | 56,318 | a,b | 1,302,072 | ||||
Sarepta Therapeutics | 3,968 | a,b | 454,217 | ||||
Supernus Pharmaceuticals | 59,595 | b | 1,072,114 | ||||
Syneos Health | 13,274 | b | 840,908 | ||||
Turning Point Therapeutics | 9,928 | a,b | 492,131 | ||||
Twist Bioscience | 2,754 | b | 84,327 | ||||
uniQure | 7,057 | b | 363,153 | ||||
Veracyte | 36,046 | a,b | 889,976 | ||||
Vericel | 40,660 | b | 627,790 | ||||
Zogenix | 23,594 | b | 591,738 | ||||
68,895,438 | |||||||
Real Estate - 2.1% | |||||||
Americold Realty Trust | 16,949 | c | 519,826 | ||||
Hannon Armstrong Sustainable Infrastructure Capital | 25,307 | a,c | 859,173 | ||||
Marcus & Millichap | 20,086 | a,b | 641,949 | ||||
Monmouth Real Estate Investment | 67,584 | c | 959,693 | ||||
Physicians Realty Trust | 29,030 | c | 547,506 | ||||
QTS Realty Trust, Cl. A | 50,641 | a,c | 2,844,505 | ||||
RE/MAX Holdings, Cl. A | 31,749 | 925,483 | |||||
Redfin | 37,434 | b | 1,012,964 | ||||
Retail Opportunity Investments | 56,026 | c | 840,390 | ||||
Terreno Realty | 28,041 | c | 1,538,610 | ||||
10,690,099 | |||||||
Retailing - 2.9% | |||||||
Boot Barn Holdings | 16,042 | a,b | 492,008 | ||||
Etsy | 44,229 | b | 2,556,879 | ||||
Floor & Decor Holdings, Cl. A | 11,453 | b | 584,676 | ||||
Lithia Motors, Cl. A | 7,064 | 841,746 | |||||
Ollie's Bargain Outlet Holdings | 29,216 | a,b | 1,486,218 | ||||
Points International | 36,210 | b | 573,566 | ||||
Pool | 17,080 | 3,603,196 | |||||
RH | 4,333 | a,b | 786,006 | ||||
Shutterstock | 55,629 | a | 2,143,942 | ||||
The Buckle | 29,123 | a | 659,053 | ||||
The Rubicon Project | 80,529 | b | 914,004 | ||||
14,641,294 | |||||||
Semiconductors & Semiconductor Equipment - 5.6% | |||||||
ACM Research, Cl. A | 17,252 | a,b | 602,957 | ||||
Advanced Energy Industries | 17,487 | b | 1,040,039 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 95.6% (continued) | |||||||
Semiconductors & Semiconductor Equipment - 5.6% (continued) | |||||||
Brooks Automation | 22,664 | 782,135 | |||||
CEVA | 98,340 | b | 2,793,839 | ||||
Cirrus Logic | 9,320 | b | 639,725 | ||||
Cypress Semiconductor | 43,661 | 1,008,133 | |||||
Enphase Energy | 22,148 | a,b | 1,084,588 | ||||
Entegris | 14,095 | 751,545 | |||||
FormFactor | 26,085 | b | 583,521 | ||||
Inphi | 57,094 | b | 4,262,638 | ||||
Lattice Semiconductor | 96,937 | b | 1,740,019 | ||||
MKS Instruments | 5,199 | a | 520,888 | ||||
Monolithic Power Systems | 27,643 | 4,385,285 | |||||
ON Semiconductor | 64,462 | b | 1,202,861 | ||||
Power Integrations | 19,365 | a | 1,685,723 | ||||
Rambus | 51,153 | b | 715,119 | ||||
Semtech | 74,432 | b | 2,939,320 | ||||
Synaptics | 12,470 | a,b | 823,644 | ||||
Ultra Clean Holdings | 26,924 | b | 562,981 | ||||
28,124,960 | |||||||
Software & Services - 16.3% | |||||||
ACI Worldwide | 129,085 | b | 3,597,599 | ||||
Alarm.com Holdings | 43,967 | a,b | 2,121,408 | ||||
Alteryx, Cl. A | 4,278 | a,b | 597,294 | ||||
AppFolio, Cl. A | 11,313 | a,b | 1,391,160 | ||||
Appian | 21,803 | a,b | 962,602 | ||||
Aspen Technology | 1,109 | b | 118,120 | ||||
Avalara | 18,511 | b | 1,568,807 | ||||
Bill.Com Holdings | 13,287 | a,b | 754,170 | ||||
Blackbaud | 23,952 | a | 1,623,946 | ||||
BlackLine | 47,778 | a,b | 2,989,469 | ||||
Bottomline Technologies | 38,668 | b | 1,712,219 | ||||
CACI International, Cl. A | 11,748 | b | 2,878,495 | ||||
Cerence | 19,244 | 417,787 | |||||
Cloudflare | 34,015 | b | 724,520 | ||||
Cornerstone OnDemand | 34,859 | b | 1,430,265 | ||||
Coupa Software | 2,543 | b | 380,814 | ||||
Dynatrace | 26,828 | a,b | 866,544 | ||||
Elastic | 11,986 | a,b | 885,286 | ||||
Envestnet | 35,628 | b | 2,689,201 | ||||
Euronet Worldwide | 7,937 | b | 984,505 | ||||
Everbridge | 33,308 | a,b | 3,519,323 | ||||
Evo Payments, Cl. A | 62,906 | b | 1,590,264 | ||||
ExlService Holdings | 29,018 | b | 2,166,194 | ||||
Fair Isaac | 9,892 | b | 3,719,689 |
Description | Shares | Value ($) | |||||
Common Stocks - 95.6% (continued) | |||||||
Software & Services - 16.3% (continued) | |||||||
Five9 | 62,610 | b | 4,572,408 | ||||
j2 Global | 35,988 | a,b | 3,142,832 | ||||
KBR | 23,639 | 613,668 | |||||
LivePerson | 68,575 | a,b | 1,814,494 | ||||
ManTech International, Cl. A | 8,759 | 656,049 | |||||
MAXIMUS | 34,013 | 2,143,499 | |||||
Medallia | 16,701 | a,b | 414,352 | ||||
MiX Telematics, ADR | 41,307 | 548,144 | |||||
Model N | 22,096 | b | 640,784 | ||||
Nuance Communications | 48,637 | b | 1,051,532 | ||||
Paycom Software | 5,665 | b | 1,601,212 | ||||
Paylocity Holding | 6,872 | b | 890,061 | ||||
Pegasystems | 9,069 | 820,745 | |||||
Perficient | 15,946 | b | 653,308 | ||||
Q2 Holdings | 22,346 | a,b | 1,684,218 | ||||
Smartsheet, Cl. A | 13,577 | a,b | 628,615 | ||||
Sprout Social | 34,251 | b | 673,032 | ||||
Switch, Cl. A | 25,701 | 368,552 | |||||
The Descartes Systems Group | 73,752 | b | 3,047,432 | ||||
The Trade Desk, Cl. A | 13,927 | a,b | 4,000,531 | ||||
Tyler Technologies | 7,436 | b | 2,330,071 | ||||
Upland Software | 10,695 | a,b | 416,142 | ||||
Varonis Systems | 11,329 | b | 908,812 | ||||
Wix.com | 29,789 | a,b | 3,992,620 | ||||
WNS Holdings, ADR | 62,256 | b | 4,098,935 | ||||
Workiva | 23,475 | b | 1,003,322 | ||||
82,405,051 | |||||||
Technology Hardware & Equipment - 2.4% | |||||||
CalAmp | 58,218 | b | 560,057 | ||||
ePlus | 22,662 | b | 1,716,873 | ||||
Infinera | 111,531 | b | 758,411 | ||||
Insight Enterprises | 14,632 | b | 806,077 | ||||
Itron | 9,488 | b | 719,570 | ||||
Ituran Location and Control | 13,945 | 319,201 | |||||
Knowles | 70,004 | b | 1,163,466 | ||||
Lumentum Holdings | 11,283 | b | 878,043 | ||||
Novanta | 17,111 | b | 1,526,472 | ||||
Radware | 15,854 | b | 360,203 | ||||
Rogers | 8,977 | b | 1,041,332 | ||||
SYNNEX | 6,145 | 768,309 | |||||
Viavi Solutions | 127,309 | b | 1,679,205 | ||||
12,297,219 | |||||||
Telecommunication Services - .9% | |||||||
Boingo Wireless | 209,629 | b | 2,655,999 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 95.6% (continued) | |||||||
Telecommunication Services - .9% (continued) | |||||||
Cogent Communications Holdings | 13,740 | 1,003,157 | |||||
Iridium Communications | 24,154 | b | 653,849 | ||||
4,313,005 | |||||||
Transportation - 2.1% | |||||||
Allegiant Travel | 13,796 | a | 1,869,910 | ||||
Copa Holdings, Cl. A | 6,361 | 528,854 | |||||
Echo Global Logistics | 74,242 | b | 1,369,765 | ||||
Hub Group, Cl. A | 17,240 | b | 797,005 | ||||
Marten Transport | 123,926 | 2,421,514 | |||||
SkyWest | 19,917 | 904,232 | |||||
TFI International | 24,012 | 745,573 | |||||
XPO Logistics | 26,303 | a,b | 1,945,633 | ||||
10,582,486 | |||||||
Utilities - .4% | |||||||
SJW Group | 14,414 | 881,849 | |||||
Sunnova Energy International | 52,579 | b | 909,617 | ||||
1,791,466 | |||||||
Total Common Stocks (cost $388,651,218) | 482,017,753 | ||||||
1-Day | |||||||
Investment Companies - 5.0% | |||||||
Registered Investment Companies - 5.0% | |||||||
Dreyfus Institutional Preferred Government Plus Money Market Fund | 1.59 | 25,223,772 | d | 25,223,772 | |||
Investment of Cash Collateral for Securities Loaned - 2.5% | |||||||
Registered Investment Companies - 2.5% | |||||||
Dreyfus Institutional Preferred Government Plus Money Market Fund | 1.59 | 12,741,126 | d | 12,741,126 | |||
Total Investments (cost $426,616,116) | 103.1% | 519,982,651 | |||||
Liabilities, Less Cash and Receivables | (3.1%) | (15,847,615) | |||||
Net Assets | 100.0% | 504,135,036 |
ADR—American Depository Receipt
a Security, or portion thereof, on loan. At February 29, 2020, the value of the fund’s securities on loan was $134,209,791 and the value of the collateral was $138,043,708, consisting of cash collateral of $12,741,126 and U.S. Government & Agency securities valued at $125,302,582.
b Non-income producing security.
c Investment in real estate investment trust within the United States.
d Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company’s prospectus.
STATEMENT OF INVESTMENTS
BNY Mellon Select Managers Small Cap Growth Fund
February 29, 2020 (Unaudited)
The following is a summary of the inputs used as of February 29, 2020 in valuing the fund’s investments:
Level 1 Unadjusted Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 Significant Unobservable Inputs | Total | |
Assets ($) | ||||
Investments in Securities: † | ||||
Equity Securities - Common Stocks | 482,017,753 | - | - | 482,017,753 |
Investment Companies | 37,964,898 | - | - | 37,964,898 |
† See Statement of Investments for additional detailed categorizations, if any.
NOTES
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 Securities and Exchange Commission (“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
NOTES
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. These securities are generally categorized within Level 2 of the fair value hierarchy.
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 Members (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
NOTES
contractual maturity of security lending transactions are on an overnight and continuous basis.
At February 29, 2020, accumulated net unrealized appreciation on investments was $93,366,535, consisting of $118,335,924 gross unrealized appreciation and $24,969,389 gross unrealized depreciation.
At February 29, 2020, 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.