STATEMENT OF INVESTMENTS
BNY Mellon Select Managers Small Cap Growth Fund
August 31, 2020 (Unaudited)
Description | Shares | Value ($) | |||||
Common Stocks - 96.5% | |||||||
Automobiles & Components - 2.3% | |||||||
Dorman Products | 18,880 | a | 1,598,947 | ||||
Fox Factory Holding | 49,664 | a,b | 5,006,628 | ||||
LCI Industries | 26,982 | 3,065,965 | |||||
Visteon | 26,305 | a | 1,984,186 | ||||
Workhorse Group | 48,802 | a,b | 883,804 | ||||
12,539,530 | |||||||
Banks - 1.7% | |||||||
Axos Financial | 99,563 | a | 2,467,171 | ||||
Bank OZK | 37,230 | 857,779 | |||||
Central Pacific Financial | 26,116 | 404,537 | |||||
Columbia Banking System | 21,483 | 599,591 | |||||
Federal Agricultural Mortgage, Cl. C | 9,393 | 640,133 | |||||
First Financial Bankshares | 47,151 | 1,427,497 | |||||
First Foundation | 26,885 | 408,383 | |||||
National Bank Holdings, Cl. A | 19,794 | 562,941 | |||||
Pacific Premier Bancorp | 42,591 | 962,131 | |||||
Pennymac Financial Services | 14,337 | 755,847 | |||||
Texas Capital Bancshares | 16,336 | a | 529,123 | ||||
9,615,133 | |||||||
Capital Goods - 10.3% | |||||||
AAON | 35,755 | b | 2,035,532 | ||||
Advanced Drainage Systems | 17,973 | 997,142 | |||||
AeroVironment | 18,009 | a | 1,375,708 | ||||
Ameresco, Cl. A | 76,356 | a | 2,606,793 | ||||
Armstrong World Industries | 26,875 | 1,981,763 | |||||
Barnes Group | 24,060 | 952,776 | |||||
Beacon Roofing Supply | 17,141 | a | 580,909 | ||||
Bloom Energy, Cl. A | 37,551 | a,b | 588,049 | ||||
Donaldson | 26,357 | 1,327,339 | |||||
Dycom Industries | 14,638 | a | 900,383 | ||||
Encore Wire | 12,187 | 628,971 | |||||
ESCO Technologies | 19,409 | 1,745,257 | |||||
Generac Holdings | 9,558 | a | 1,815,829 | ||||
Gibraltar Industries | 13,567 | a | 847,191 | ||||
H&E Equipment Services | 45,698 | 925,841 | |||||
Kornit Digital | 51,690 | a,b | 3,201,161 | ||||
Kratos Defense & Security Solutions | 59,643 | a | 1,166,021 | ||||
Lincoln Electric Holdings | 4,791 | 463,338 | |||||
Masonite International | 36,254 | a | 3,309,628 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.5% (continued) | |||||||
Capital Goods - 10.3% (continued) | |||||||
Maxar Technologies | 33,567 | 777,076 | |||||
Mercury Systems | 17,211 | a | 1,303,561 | ||||
Moog, Cl. A | 14,120 | 851,295 | |||||
MSC Industrial Direct, Cl. A | 6,480 | 427,032 | |||||
PGT Innovations | 66,947 | a | 1,213,749 | ||||
Plug Power | 93,880 | a,b | 1,218,562 | ||||
Proto Labs | 21,841 | a | 3,210,627 | ||||
Quanta Services | 18,660 | 956,325 | |||||
RBC Bearings | 16,638 | a | 2,196,882 | ||||
Simpson Manufacturing | 8,800 | 865,392 | |||||
SiteOne Landscape Supply | 33,428 | a,b | 4,180,171 | ||||
Sunrun | 25,818 | a,b | 1,460,137 | ||||
The AZEK Company | 20,838 | a | 822,684 | ||||
Trex | 46,891 | a | 7,009,736 | ||||
UFP Industries | 17,178 | 1,019,514 | |||||
Vicor | 25,796 | a | 2,245,026 | ||||
WillScot Mobile Mini Holdings | 25,043 | a | 448,270 | ||||
57,655,670 | |||||||
Commercial & Professional Services - 2.8% | |||||||
Brady, Cl. A | 29,405 | 1,378,800 | |||||
CBIZ | 40,924 | a | 995,272 | ||||
Exponent | 67,826 | 5,456,941 | |||||
Franklin Covey | 16,348 | a | 322,710 | ||||
FTI Consulting | 17,731 | a | 2,034,810 | ||||
IAA | 31,596 | a | 1,653,103 | ||||
McGrath RentCorp | 17,243 | 1,144,246 | |||||
Tetra Tech | 16,000 | 1,476,960 | |||||
Willdan Group | 34,315 | a | 966,997 | ||||
15,429,839 | |||||||
Consumer Durables & Apparel - 2.9% | |||||||
Acushnet Holdings | 20,620 | 727,680 | |||||
Callaway Golf | 98,811 | b | 2,061,197 | ||||
Capri Holdings | 32,269 | a | 511,141 | ||||
Clarus | 24,787 | a | 312,068 | ||||
Deckers Outdoor | 14,738 | a | 3,004,636 | ||||
Helen of Troy | 10,766 | a | 2,226,624 | ||||
Kontoor Brands | 29,779 | a,b | 658,116 | ||||
LGI Homes | 9,070 | a | 1,014,570 | ||||
Meritage Homes | 8,675 | a | 833,060 | ||||
Peloton Interactive, Cl. A | 10,709 | a | 821,059 | ||||
Purple Innovation | 21,555 | a | 407,605 | ||||
Smith & Wesson Brands | 29,067 | a,b | 530,763 | ||||
TopBuild | 14,439 | a | 2,220,718 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.5% (continued) | |||||||
Consumer Durables & Apparel - 2.9% (continued) | |||||||
YETI Holdings | 21,300 | a | 1,094,394 | ||||
16,423,631 | |||||||
Consumer Services - 5.6% | |||||||
Bright Horizons Family Solutions | 21,484 | a | 2,857,587 | ||||
Brinker International | 12,235 | a | 551,064 | ||||
Caesars Entertainment | 41,171 | a,b | 1,885,632 | ||||
Century Casinos | 103,855 | a | 638,708 | ||||
Chegg | 21,956 | a | 1,619,036 | ||||
Churchill Downs | 8,515 | a | 1,488,081 | ||||
Cracker Barrel Old Country Store | 6,365 | 851,064 | |||||
Extended Stay America | 60,641 | 757,406 | |||||
Frontdoor | 13,182 | a | 574,340 | ||||
Grand Canyon Education | 5,808 | a | 546,184 | ||||
Hilton Grand Vacations | 39,230 | a | 859,529 | ||||
Jack in the Box | 10,853 | 894,179 | |||||
K12 | 73,560 | a | 2,737,167 | ||||
Papa John's International | 16,538 | 1,625,520 | |||||
Penn National Gaming | 20,688 | a,b | 1,057,157 | ||||
Strategic Education | 19,641 | 2,014,577 | |||||
Texas Roadhouse | 71,579 | a | 4,508,761 | ||||
The Cheesecake Factory | 38,122 | a,b | 1,125,743 | ||||
Vail Resorts | 7,739 | a,b | 1,684,548 | ||||
Wingstop | 15,548 | 2,540,543 | |||||
WW International | 25,144 | a | 590,381 | ||||
31,407,207 | |||||||
Diversified Financials - .9% | |||||||
Artisan Partners Asset Management, Cl. A | 23,154 | 896,291 | |||||
Encore Capital Group | 34,427 | a | 1,581,576 | ||||
Evercore, Cl. A | 12,139 | 751,161 | |||||
Hannon Armstrong Sustainable Infrastructure Capital | 21,526 | c | 913,994 | ||||
Hercules Capital | 58,861 | b | 660,420 | ||||
4,803,442 | |||||||
Energy - .3% | |||||||
DMC Global | 13,971 | a | 494,993 | ||||
New Fortress Energy | 32,734 | b | 876,289 | ||||
1,371,282 | |||||||
Food & Staples Retailing - .6% | |||||||
BJ's Wholesale Club Holdings | 30,594 | a,b | 1,358,680 | ||||
Performance Food Group | 51,928 | a | 1,895,891 | ||||
3,254,571 | |||||||
Food, Beverage & Tobacco - 2.1% | |||||||
Celsius Holdings | 63,234 | a,b | 1,228,004 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.5% (continued) | |||||||
Food, Beverage & Tobacco - 2.1% (continued) | |||||||
Darling Ingredients | 28,088 | a | 897,973 | ||||
Freshpet | 40,654 | a | 4,618,294 | ||||
J&J Snack Foods | 15,650 | 2,127,618 | |||||
Primo Water | 22,167 | 303,245 | |||||
The Boston Beer Company, Cl. A | 877 | a | 773,496 | ||||
The Simply Good Foods Company | 57,050 | a | 1,417,693 | ||||
Vital Farms | 4,703 | a | 185,298 | ||||
11,551,621 | |||||||
Health Care Equipment & Services - 10.7% | |||||||
1Life Healthcare | 21,890 | a | 638,531 | ||||
Acutus Medical | 16,407 | a | 575,558 | ||||
Addus HomeCare | 17,599 | a | 1,648,322 | ||||
AMN Healthcare Services | 31,202 | a | 1,679,916 | ||||
Cantel Medical | 17,822 | a,b | 935,299 | ||||
CryoPort | 38,762 | a,b | 2,150,516 | ||||
Globus Medical, Cl. A | 33,402 | a | 1,887,881 | ||||
Guardant Health | 4,934 | a | 471,197 | ||||
HealthEquity | 29,671 | a | 1,705,489 | ||||
HealthStream | 28,383 | a | 587,954 | ||||
Inovalon Holdings, Cl. A | 85,918 | a | 2,126,041 | ||||
Inspire Medical Systems | 18,399 | a | 2,197,760 | ||||
Insulet | 2,217 | a | 483,860 | ||||
iRhythm Technologies | 6,773 | a,b | 1,491,279 | ||||
LeMaitre Vascular | 32,776 | b | 1,058,009 | ||||
LHC Group | 25,114 | a | 5,234,762 | ||||
Livongo Health | 9,836 | a,b | 1,350,483 | ||||
Masimo | 15,149 | a | 3,393,376 | ||||
Neogen | 29,852 | a | 2,274,722 | ||||
Nevro | 3,948 | a | 543,008 | ||||
Novocure | 27,666 | a | 2,289,362 | ||||
Omnicell | 47,379 | a | 3,159,232 | ||||
Ontrak | 10,947 | a,b | 798,584 | ||||
Penumbra | 8,624 | a,b | 1,803,710 | ||||
PetIQ | 44,262 | a,b | 1,557,137 | ||||
Premier, Cl. A | 83,835 | 2,745,596 | |||||
Schrodinger | 6,066 | a | 366,750 | ||||
Shockwave Medical | 14,825 | 943,405 | |||||
Silk Road Medical | 30,306 | a | 1,848,060 | ||||
STAAR Surgical | 48,523 | a | 2,326,678 | ||||
Tabula Rasa HealthCare | 39,347 | a,b | 1,990,958 | ||||
Tactile Systems Technology | 52,700 | a,b | 2,025,261 | ||||
Tandem Diabetes Care | 19,344 | a | 2,180,456 | ||||
Teladoc Health | 2,306 | a,b | 497,381 | ||||
U.S. Physical Therapy | 9,916 | a | 881,532 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.5% (continued) | |||||||
Health Care Equipment & Services - 10.7% (continued) | |||||||
Vocera Communications | 70,591 | a | 1,975,842 | ||||
59,823,907 | |||||||
Household & Personal Products - 1.2% | |||||||
e.l.f. Beauty | 36,621 | a | 715,208 | ||||
Inter Parfums | 17,518 | a | 782,529 | ||||
Medifast | 23,689 | 3,854,674 | |||||
WD-40 | 6,572 | 1,343,185 | |||||
6,695,596 | |||||||
Insurance - 2.8% | |||||||
BRP Group, Cl. A | 33,162 | a | 912,287 | ||||
Goosehead Insurance, Cl. A | 19,160 | b | 1,968,882 | ||||
Horace Mann Educators | 13,447 | 525,240 | |||||
Kinsale Captial Group | 29,818 | 6,179,184 | |||||
Palomar Holdings | 44,902 | a | 5,044,740 | ||||
Trean Insurance Group | 18,260 | a | 285,769 | ||||
Trupanion | 14,295 | a,b | 896,725 | ||||
15,812,827 | |||||||
Materials - 1.4% | |||||||
Balchem | 24,241 | a | 2,368,346 | ||||
Ingevity | 35,039 | a | 1,968,141 | ||||
Livent | 57,683 | a,b | 489,152 | ||||
Materion | 14,736 | 804,438 | |||||
Methanex | 24,911 | 554,270 | |||||
Stepan | 7,491 | 863,637 | |||||
The Scotts Miracle-Gro Company | 5,428 | 914,781 | |||||
7,962,765 | |||||||
Media & Entertainment - .5% | |||||||
Cardlytics | 6,790 | a,b | 515,022 | ||||
EverQuote, Cl. A | 13,526 | a | 480,173 | ||||
World Wrestling Entertainment, Cl. A | 43,579 | b | 1,920,527 | ||||
2,915,722 | |||||||
Pharmaceuticals Biotechnology & Life Sciences - 15.4% | |||||||
ACADIA Pharmaceuticals | 3,793 | a,b | 150,165 | ||||
Acceleron Pharma | 6,318 | a | 615,815 | ||||
Aerie Pharmaceuticals | 62,326 | a,b | 685,586 | ||||
Aimmune Therapeutics | 53,335 | a,b | 1,825,124 | ||||
Akebia Therapeutics | 57,919 | a | 602,937 | ||||
Akero Therapeutics | 17,992 | a | 586,539 | ||||
Arena Pharmaceuticals | 10,961 | a | 765,297 | ||||
argenx, ADR | 4,374 | a | 1,011,575 | ||||
Axsome Therapeutics | 12,770 | a,b | 936,169 | ||||
Biohaven Pharmaceutical Holding | 25,489 | a,b | 1,615,747 | ||||
BioSpecifics Technologies | 15,078 | a | 972,531 | ||||
Bio-Techne | 13,659 | 3,489,328 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.5% (continued) | |||||||
Pharmaceuticals Biotechnology & Life Sciences - 15.4% (continued) | |||||||
Bridgebio Pharma | 15,095 | a,b | 450,737 | ||||
CareDx | 78,757 | a | 2,689,551 | ||||
Castle Biosciences | 50,023 | a | 2,287,551 | ||||
Charles River Laboratories International | 3,349 | a | 733,264 | ||||
ChemoCentryx | 9,854 | a | 527,189 | ||||
Coherus Biosciences | 78,204 | a | 1,483,530 | ||||
Collegium Pharmaceutical | 45,772 | a,b | 872,414 | ||||
Cytokinetics | 23,374 | a,b | 560,041 | ||||
Deciphera Pharmaceuticals | 13,069 | a | 588,236 | ||||
Emergent BioSolutions | 41,925 | a | 4,781,546 | ||||
Esperion Therapeutics | 9,205 | a,b | 332,301 | ||||
Exact Sciences | 5,843 | a,b | 439,919 | ||||
Fate Therapeutics | 22,267 | a | 810,519 | ||||
Global Blood Therapeutics | 23,898 | a | 1,500,316 | ||||
GW Pharmaceuticals, ADR | 11,396 | a | 1,184,614 | ||||
Halozyme Therapeutics | 151,277 | a | 4,386,277 | ||||
Horizon Therapeutics | 29,389 | a | 2,207,702 | ||||
Immunomedics | 104,716 | a | 4,666,146 | ||||
Immunovant | 21,915 | a | 744,233 | ||||
Insmed | 19,663 | a | 554,300 | ||||
Invitae | 30,636 | a,b | 1,071,035 | ||||
Iovance Biotherapeutics | 66,858 | a,b | 2,228,377 | ||||
Karyopharm Therapeutics | 45,969 | a | 699,189 | ||||
Krystal Biotech | 10,856 | a | 519,025 | ||||
Ligand Pharmaceuticals | 35,243 | a,b | 3,594,786 | ||||
Medpace Holdings | 18,905 | a | 2,453,680 | ||||
MyoKardia | 14,000 | a | 1,532,160 | ||||
Natera | 41,451 | a | 2,640,843 | ||||
Nektar Therapeutics | 32,646 | a,b | 631,374 | ||||
NeoGenomics | 101,423 | a | 3,950,426 | ||||
Novavax | 4,366 | a,b | 481,744 | ||||
Optinose | 53,516 | a,b | 243,498 | ||||
Pacira Biosciences | 39,248 | a,b | 2,453,785 | ||||
Prestige Consumer Healthcare | 32,937 | a | 1,199,895 | ||||
PTC Therapeutics | 20,295 | a | 1,003,080 | ||||
Puma Biotechnology | 22,044 | a | 226,833 | ||||
Reata Pharmaceuticals, Cl. A | 9,545 | a,b | 1,001,748 | ||||
Repligen | 24,997 | a | 3,872,285 | ||||
Revance Therapeutics | 44,827 | a,b | 1,310,293 | ||||
Sarepta Therapeutics | 3,464 | a | 507,199 | ||||
Seres Therapeutics | 29,980 | a | 794,170 | ||||
Supernus Pharmaceuticals | 45,019 | a | 989,968 | ||||
TG Therapeutics | 31,567 | a | 783,019 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.5% (continued) | |||||||
Pharmaceuticals Biotechnology & Life Sciences - 15.4% (continued) | |||||||
Turning Point Therapeutics | 20,665 | a | 1,615,589 | ||||
Twist Bioscience | 25,767 | a | 1,801,886 | ||||
Ultragenyx Pharmaceutical | 12,459 | a | 1,059,763 | ||||
Veracyte | 53,334 | a,b | 1,776,555 | ||||
Zogenix | 26,614 | a | 629,953 | ||||
86,129,357 | |||||||
Real Estate - 2.0% | |||||||
eXp World Holdings | 21,655 | a | 963,214 | ||||
Hudson Pacific Properties | 18,339 | c | 430,600 | ||||
Innovative Industrial Properties | 12,542 | c | 1,543,795 | ||||
Marcus & Millichap | 16,766 | a | 472,969 | ||||
Monmouth Real Estate Investment | 42,240 | c | 612,902 | ||||
Physicians Realty Trust | 32,437 | c | 588,732 | ||||
QTS Realty Trust, Cl. A | 30,080 | c | 2,040,026 | ||||
RE/MAX Holdings, Cl. A | 22,539 | 792,020 | |||||
Realogy Holdings | 107,435 | a | 1,190,380 | ||||
Redfin | 27,869 | a | 1,325,728 | ||||
Retail Opportunity Investments | 46,067 | a,c | 512,726 | ||||
Terreno Realty | 15,184 | c | 905,574 | ||||
11,378,666 | |||||||
Retailing - 4.7% | |||||||
Big Lots | 17,057 | b | 804,238 | ||||
CarParts.com | 70,454 | a | 989,879 | ||||
Etsy | 38,291 | a | 4,583,433 | ||||
Five Below | 5,514 | a | 603,507 | ||||
Floor & Decor Holdings, Cl. A | 28,299 | a | 2,072,619 | ||||
Lithia Motors, Cl. A | 12,358 | b | 3,076,648 | ||||
Ollie's Bargain Outlet Holdings | 34,073 | a | 3,255,335 | ||||
Points International | 27,223 | a | 291,014 | ||||
Pool | 11,185 | 3,666,890 | |||||
Shutterstock | 57,235 | 2,880,065 | |||||
Sonic Automotive, Cl. A | 20,984 | 886,784 | |||||
Sportsman's Warehouse Holdings | 48,605 | a | 762,855 | ||||
Stamps.com | 3,459 | a | 862,467 | ||||
The Michaels Companies | 81,424 | a | 916,020 | ||||
Williams-Sonoma | 8,629 | b | 757,281 | ||||
26,409,035 | |||||||
Semiconductors & Semiconductor Equipment - 6.4% | |||||||
ACM Research, Cl. A | 6,601 | a,b | 586,235 | ||||
Advanced Energy Industries | 32,444 | a | 2,404,749 | ||||
Brooks Automation | 40,336 | 2,082,547 | |||||
CEVA | 67,770 | a | 2,863,283 | ||||
Cree | 9,832 | a,b | 620,399 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.5% (continued) | |||||||
Semiconductors & Semiconductor Equipment - 6.4% (continued) | |||||||
Entegris | 9,991 | 668,298 | |||||
Inphi | 47,485 | a | 5,412,341 | ||||
Lattice Semiconductor | 158,107 | a | 4,521,860 | ||||
MACOM Technology Solutions Holdings | 20,900 | a | 744,667 | ||||
MaxLinear | 30,963 | a | 753,949 | ||||
Monolithic Power Systems | 23,709 | 6,333,385 | |||||
ON Semiconductor | 48,877 | a | 1,044,502 | ||||
Power Integrations | 32,636 | 1,826,637 | |||||
Semtech | 70,351 | a | 4,126,086 | ||||
Silicon Motion Technology, ADR | 1,421 | a | 54,005 | ||||
SiTime | 13,358 | a | 880,025 | ||||
Ultra Clean Holdings | 21,709 | a | 532,305 | ||||
35,455,273 | |||||||
Software & Services - 16.4% | |||||||
2U | 17,705 | a,b | 732,810 | ||||
ACI Worldwide | 97,412 | a | 2,861,965 | ||||
Alarm.com Holdings | 42,870 | a | 2,566,627 | ||||
Alteryx, Cl. A | 3,733 | a,b | 451,058 | ||||
AppFolio, Cl. A | 9,705 | a | 1,630,731 | ||||
BigCommerce Holdings, Ser. 1 | 6,533 | a,b | 769,587 | ||||
Bill.com Holdings | 8,689 | a | 860,037 | ||||
Blackbaud | 20,064 | a | 1,281,086 | ||||
BlackLine | 30,979 | a,b | 2,706,635 | ||||
Bottomline Technologies | 37,537 | a | 1,787,887 | ||||
CACI International, Cl. A | 7,330 | a | 1,716,613 | ||||
Cerence | 44,846 | a,b | 2,385,807 | ||||
ChannelAdvisor | 29,090 | a | 489,294 | ||||
Cloudflare, Cl. A | 23,239 | a | 889,124 | ||||
Cornerstone OnDemand | 26,412 | a | 931,551 | ||||
Coupa Software | 2,429 | a | 796,080 | ||||
Digital Turbine | 28,308 | a | 684,771 | ||||
Elastic | 11,806 | a | 1,281,896 | ||||
Envestnet | 39,431 | a | 3,272,379 | ||||
Euronet Worldwide | 14,372 | a | 1,485,777 | ||||
Everbridge | 17,277 | a,b | 2,567,535 | ||||
Evo Payments, Cl. A | 71,134 | a | 2,043,680 | ||||
ExlService Holdings | 28,167 | a | 1,793,956 | ||||
Fair Isaac | 9,607 | a | 4,042,530 | ||||
Fastly, CI. A | 7,021 | a,b | 651,830 | ||||
Five9 | 26,832 | a | 3,419,470 | ||||
I3 Verticals, Cl. A | 34,279 | a | 956,041 | ||||
J2 Global | 58,559 | a | 4,098,544 | ||||
LivePerson | 85,199 | a,b | 5,082,972 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.5% (continued) | |||||||
Software & Services - 16.4% (continued) | |||||||
Manhattan Associates | 8,460 | a | 822,735 | ||||
ManTech International, Cl. A | 4,210 | 315,119 | |||||
MAXIMUS | 25,643 | 1,988,615 | |||||
Medallia | 59,083 | a,b | 2,138,214 | ||||
Nuance Communications | 25,549 | a | 765,448 | ||||
Pegasystems | 5,637 | 724,185 | |||||
Q2 Holdings | 24,630 | a,b | 2,396,253 | ||||
Qualys | 10,219 | a | 1,084,645 | ||||
Rapid7 | 25,577 | a | 1,651,507 | ||||
SailPoint Technologies Holdings | 30,108 | a | 1,181,137 | ||||
Smartsheet, Cl. A | 10,779 | a | 587,779 | ||||
SolarWinds | 28,580 | 601,037 | |||||
SPS Commerce | 11,178 | a | 892,899 | ||||
Switch, Cl. A | 46,732 | 803,790 | |||||
The Descartes Systems Group | 68,896 | a | 4,199,211 | ||||
TTEC Holdings | 16,412 | a | 930,396 | ||||
Tyler Technologies | 7,212 | a | 2,490,376 | ||||
Varonis Systems | 9,711 | a | 1,199,600 | ||||
Vertex, Cl. A | 11,015 | a | 282,094 | ||||
Wix.com | 16,882 | a | 4,973,944 | ||||
WNS Holdings, ADR | 52,184 | a | 3,462,408 | ||||
Workiva | 43,204 | a | 2,549,036 | ||||
Zscaler | 7,081 | a | 1,014,991 | ||||
91,293,692 | |||||||
Technology Hardware & Equipment - 1.8% | |||||||
Calix | 44,526 | a | 866,031 | ||||
Ciena | 14,411 | a | 818,112 | ||||
ePlus | 21,999 | a | 1,687,763 | ||||
Insight Enterprises | 27,814 | a | 1,663,416 | ||||
Ituran Location & Control | 10,564 | a | 153,178 | ||||
Knowles | 41,554 | a | 625,803 | ||||
Novanta | 20,022 | a | 2,145,758 | ||||
Radware | 44,011 | a | 1,140,765 | ||||
Rogers | 10,623 | a | 1,203,692 | ||||
10,304,518 | |||||||
Telecommunication Services - .8% | |||||||
Bandwidth, Cl. A | 7,490 | a,b | 1,179,525 | ||||
Boingo Wireless | 167,829 | a | 2,180,098 | ||||
Cogent Communications Holdings | 12,055 | 810,819 | |||||
4,170,442 | |||||||
Transportation - 2.5% | |||||||
Allegiant Travel | 13,408 | a | 1,724,269 | ||||
Atlas Air Worldwide Holdings | 12,329 | a | 695,232 | ||||
Echo Global Logistics | 52,070 | a | 1,422,552 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.5% (continued) | |||||||
Transportation - 2.5% (continued) | |||||||
Hub Group, Cl. A | 14,827 | a | 798,286 | ||||
Kirby | 13,340 | a | 566,150 | ||||
Marten Transport | 156,544 | 2,842,839 | |||||
Saia | 12,598 | a | 1,690,652 | ||||
SkyWest | 27,955 | a | 940,686 | ||||
TFI International | 39,001 | 1,725,404 | |||||
XPO Logistics | 19,785 | a,b | 1,746,422 | ||||
14,152,492 | |||||||
Utilities - .4% | |||||||
California Water Service Group | 14,315 | 649,042 | |||||
SJW Group | 12,255 | 766,305 | |||||
Sunnova Energy International | 33,307 | a | 790,042 | ||||
2,205,389 | |||||||
Total Common Stocks (cost $362,136,428) | 538,761,607 | ||||||
1-Day | |||||||
Investment Companies - 3.5% | |||||||
Registered Investment Companies - 3.5% | |||||||
Dreyfus Institutional Preferred Government Plus Money Market Fund | 0.20 | 19,649,893 | d | 19,649,893 | |||
Investment of Cash Collateral for Securities Loaned - 2.2% | |||||||
Registered Investment Companies - 2.2% | |||||||
Dreyfus Institutional Preferred Government Plus Money Market Fund | 0.20 | 12,231,664 | d | 12,231,664 | |||
Total Investments (cost $394,017,985) | 102.2% | 570,643,164 | |||||
Liabilities, Less Cash and Receivables | (2.2%) | (12,166,104) | |||||
Net Assets | 100.0% | 558,477,060 |
ADR—American Depository Receipt
a Non-income producing security.
b Security, or portion thereof, on loan. At August 31, 2020, the value of the fund’s securities on loan was $61,266,976 and the value of the collateral was $62,091,975, consisting of cash collateral of $12,231,664 and U.S. Government & Agency securities valued at $49,860,311.
c Investment in real estate investment trust within the United States.
d Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company’s prospectus.
STATEMENT OF INVESTMENTS
BNY Mellon Select Managers Small Cap Growth Fund
August 31, 2020 (Unaudited)
The following is a summary of the inputs used as of August 31, 2020 in valuing the fund’s investments:
Level 1 Unadjusted Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 Significant Unobservable Inputs | Total | |
Assets ($) | ||||
Investments in Securities: † | ||||
Equity Securities - Common Stocks | 538,761,607 | - | - | 538,761,607 |
Investment Companies | 31,881,557 | - | - | 31,881,557 |
† 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 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
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
contractual maturity of security lending transactions are on an overnight and continuous basis.
At August 31, 2020, accumulated net unrealized appreciation on investments was $176,625,179, consisting of $186,634,246 gross unrealized appreciation and $10,009,067 gross unrealized depreciation.
At August 31, 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.