STATEMENT OF INVESTMENTS
BNY Mellon Select Managers Small Cap Value Fund
February 28, 2022 (Unaudited)
Description | Shares | Value ($) | |||||
Common Stocks - 96.9% | |||||||
Automobiles & Components - 1.4% | |||||||
Fox Factory Holding | 6,130 | a | 723,463 | ||||
Gentherm | 2,691 | a | 228,304 | ||||
Harley-Davidson | 78,851 | 3,256,546 | |||||
Holley | 94,270 | a,b | 1,222,682 | ||||
LCI Industries | 4,690 | 583,999 | |||||
Patrick Industries | 15,630 | 1,115,044 | |||||
Thor Industries | 1,420 | b | 128,510 | ||||
Visteon | 6,790 | a | 815,954 | ||||
8,074,502 | |||||||
Banks - 14.4% | |||||||
Associated Banc-Corp | 101,803 | 2,482,975 | |||||
BankUnited | 49,141 | 2,172,032 | |||||
Banner | 63,961 | 3,940,637 | |||||
Brookline Bancorp | 72,665 | 1,245,478 | |||||
Cadence Bank | 128,187 | 4,053,273 | |||||
Camden National | 30,200 | 1,436,010 | |||||
Cathay General Bancorp | 4,402 | 207,026 | |||||
City Holding | 18,760 | 1,494,609 | |||||
Columbia Banking System | 52,080 | 1,907,690 | |||||
Dime Community Bancshares | 3,048 | 103,602 | |||||
Eastern Bankshares | 98,310 | 2,149,056 | |||||
Enterprise Financial Services | 3,223 | 159,345 | |||||
F.N.B. | 16,806 | 225,705 | |||||
Federal Agricultural Mortgage, Cl. C | 12,267 | 1,517,428 | |||||
First Bancorp | 34,610 | 1,553,297 | |||||
First Financial | 35,430 | 1,647,849 | |||||
First Horizon | 4,820 | 113,174 | |||||
First Interstate BancSystem, Cl. A | 4,012 | 162,887 | |||||
Glacier Bancorp | 30,065 | 1,665,601 | |||||
Great Southern Bancorp | 21,530 | 1,322,373 | |||||
Hancock Whitney | 25,710 | 1,431,533 | |||||
Heartland Financial USA | 33,788 | 1,676,561 | |||||
Hope Bancorp | 14,879 | 252,348 | |||||
Horizon Bancorp | 68,590 | 1,377,287 | |||||
Huntington Bancshares | 104,791 | 1,626,356 | |||||
Independent Bank | 109,601 | 9,426,782 | |||||
Independent Bank Group | 16,720 | 1,289,948 | |||||
Lakeland Financial | 12,560 | 1,007,438 | |||||
NBT Bancorp | 39,320 | 1,508,708 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.9% (continued) | |||||||
Banks - 14.4% (continued) | |||||||
NMI Holdings, Cl. A | 40,120 | a | 928,377 | ||||
OceanFirst Financial | 63,680 | 1,425,158 | |||||
Old National Bancorp | 93,005 | 1,700,131 | |||||
Pacific Premier Bancorp | 89,534 | 3,465,861 | |||||
PacWest Bancorp | 28,110 | 1,389,196 | |||||
Seacoast Banking Corp. of Florida | 112,659 | 4,128,952 | |||||
SouthState | 27,657 | 2,489,130 | |||||
Synovus Financial | 81,360 | 4,283,604 | |||||
Texas Capital Bancshares | 33,844 | a | 2,254,010 | ||||
TriCo Bancshares | 31,090 | 1,349,306 | |||||
Triumph Bancorp | 18,579 | a | 1,863,845 | ||||
Walker & Dunlop | 12,920 | 1,787,482 | |||||
Washington Trust Bancorp | 26,580 | 1,442,497 | |||||
Webster Financial | 22,480 | 1,353,521 | |||||
WesBanco | 36,990 | 1,351,615 | |||||
Wintrust Financial | 12,265 | 1,218,650 | |||||
WSFS Financial | 25,420 | 1,292,099 | |||||
82,880,442 | |||||||
Capital Goods - 13.0% | |||||||
AerCap Holdings | 31,825 | a | 1,732,235 | ||||
Aerojet Rocketdyne Holdings | 28,770 | a | 1,114,837 | ||||
Alamo Group | 9,369 | 1,303,322 | |||||
Albany International, Cl. A | 11,360 | 997,635 | |||||
Allied Motion Technologies | 34,707 | a | 1,208,498 | ||||
Altra Industrial Motion | 26,365 | 1,119,722 | |||||
Astec Industries | 30,287 | a | 1,508,293 | ||||
AZZ | 22,680 | 1,116,536 | |||||
Babcock & Wilcox Enterprises | 181,682 | a | 1,273,591 | ||||
Beacon Roofing Supply | 25,480 | a | 1,520,901 | ||||
Bloom Energy, Cl. A | 23,036 | a | 511,399 | ||||
Chart Industries | 8,355 | a | 1,206,462 | ||||
Colfax | 5,694 | a | 228,956 | ||||
Comfort Systems USA | 21,515 | 1,849,860 | |||||
Curtiss-Wright | 1,672 | 246,653 | |||||
Douglas Dynamics | 32,167 | 1,181,816 | |||||
EMCOR Group | 8,490 | 980,935 | |||||
Encore Wire | 6,890 | 802,134 | |||||
Enerpac Tool Group | 90,205 | a | 1,556,036 | ||||
ESCO Technologies | 1,571 | 109,294 | |||||
Franklin Electric | 11,095 | 938,193 | |||||
Gibraltar Industries | 25,305 | a | 1,222,738 | ||||
Granite Construction | 76,630 | b | 2,319,590 | ||||
Great Lakes Dredge & Dock | 64,454 | a | 909,446 | ||||
Griffon | 64,740 | 1,492,257 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.9% (continued) | |||||||
Capital Goods - 13.0% (continued) | |||||||
H&E Equipment Services | 31,325 | 1,308,132 | |||||
Hillenbrand | 71,591 | 3,415,607 | |||||
Kennametal | 105,032 | 3,330,565 | |||||
LSI Industries | 126,890 | 865,390 | |||||
Markforged Holding | 62,064 | a | 241,429 | ||||
McGrath RentCorp | 14,130 | 1,148,486 | |||||
Mercury Systems | 16,178 | a | 974,239 | ||||
Mueller Industries | 19,110 | 1,090,225 | |||||
Oshkosh | 1,413 | 156,900 | |||||
Park Aerospace | 162,739 | 2,257,190 | |||||
Powell Industries | 78,381 | 1,656,974 | |||||
RBC Bearings | 4,695 | a | 910,126 | ||||
Regal Rexnord | 24,934 | 3,998,167 | |||||
Resideo Technologies | 103,505 | a | 2,664,219 | ||||
Simpson Manufacturing | 7,965 | 943,932 | |||||
Spirit AeroSystems Holdings, Cl. A | 48,582 | 2,429,100 | |||||
SPX | 71,363 | a | 3,618,104 | ||||
Tennant | 18,756 | 1,477,598 | |||||
Terex | 20,495 | 846,034 | |||||
Textainer Group Holdings | 35,260 | 1,252,083 | |||||
The AZEK Company | 57,425 | a | 1,693,463 | ||||
Thermon Group Holdings | 77,980 | a | 1,335,018 | ||||
Titan Machinery | 43,070 | a | 1,220,173 | ||||
Triton International | 18,390 | 1,207,855 | |||||
Twin Disc | 16,500 | a | 196,350 | ||||
Valmont Industries | 3,968 | 858,874 | |||||
WillScot Mobile Mini Holdings | 29,625 | a | 1,052,576 | ||||
Zurn Water Solutions | 126,078 | 4,100,057 | |||||
74,700,205 | |||||||
Commercial & Professional Services - 5.5% | |||||||
ABM Industries | 19,550 | 876,426 | |||||
Alight, Cl. A | 127,680 | a | 1,332,979 | ||||
ASGN | 10,675 | a | 1,182,684 | ||||
Brady, Cl. A | 46,549 | 2,144,978 | |||||
CACI International, Cl. A | 648 | a | 181,304 | ||||
CBIZ | 6,162 | a | 239,763 | ||||
Clean Harbors | 9,312 | a | 888,644 | ||||
CoreCivic | 70,466 | a | 641,945 | ||||
Deluxe | 3,831 | 119,182 | |||||
Harsco | 217,565 | a | 2,591,199 | ||||
Heritage-Crystal Clean | 53,470 | a | 1,499,299 | ||||
KAR Auction Services | 78,916 | a | 1,456,789 | ||||
KBR | 52,004 | 2,581,479 | |||||
ManTech International, Cl. A | 46,083 | 3,841,940 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.9% (continued) | |||||||
Commercial & Professional Services - 5.5% (continued) | |||||||
MillerKnoll | 5,375 | 208,980 | |||||
MSA Safety | 26,570 | 3,695,887 | |||||
Resources Connection | 117,221 | 1,945,869 | |||||
Stericycle | 25,109 | a | 1,465,361 | ||||
The Brink's Company | 54,073 | 3,788,354 | |||||
Upwork | 6,000 | a | 151,680 | ||||
VSE | 25,110 | 1,196,491 | |||||
32,031,233 | |||||||
Consumer Durables & Apparel - 3.4% | |||||||
Acushnet Holdings | 29,179 | 1,278,040 | |||||
Callaway Golf | 123,728 | a,b | 3,061,031 | ||||
Carter's | 2,237 | 216,273 | |||||
Cavco Industries | 5,010 | a | 1,365,876 | ||||
G-III Apparel Group | 44,050 | a | 1,221,947 | ||||
Hayward Holdings | 27,275 | a,b | 487,950 | ||||
Helen of Troy | 805 | a | 165,564 | ||||
Installed Building Products | 7,700 | 744,590 | |||||
KB Home | 15,400 | 594,594 | |||||
Legacy Housing | 46,880 | a | 1,194,034 | ||||
M/I Homes | 18,670 | a | 920,244 | ||||
PVH | 34,889 | 3,415,284 | |||||
Skyline Champion | 22,120 | a | 1,487,349 | ||||
Tempur Sealy International | 40,905 | 1,350,274 | |||||
Vista Outdoor | 28,290 | a | 1,031,170 | ||||
Wolverine World Wide | 40,330 | 928,800 | |||||
19,463,020 | |||||||
Consumer Services - 3.0% | |||||||
Bowlero, CI. A | 140,650 | a,b | 1,407,906 | ||||
Boyd Gaming | 58,198 | 4,128,566 | |||||
Frontdoor | 9,270 | a | 278,564 | ||||
Hilton Grand Vacations | 32,110 | a | 1,665,225 | ||||
International Game Technology | 95,929 | b | 2,937,346 | ||||
Marriott Vacations Worldwide | 21,547 | 3,461,956 | |||||
OneSpaWorld Holdings | 265,965 | a,b | 2,750,078 | ||||
SeaWorld Entertainment | 14,348 | a | 995,608 | ||||
17,625,249 | |||||||
Diversified Financials - 2.4% | |||||||
Artisan Partners Asset Management, Cl. A | 72,776 | 2,773,493 | |||||
Cohen & Steers | 28,845 | 2,343,945 | |||||
Evercore, Cl. A | 14,254 | 1,810,401 | |||||
Focus Financial Partners, Cl. A | 57,560 | a | 2,880,302 | ||||
PROG Holdings | 2,491 | a | 76,324 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.9% (continued) | |||||||
Diversified Financials - 2.4% (continued) | |||||||
Stifel Financial | 51,962 | 3,819,207 | |||||
13,703,672 | |||||||
Energy - 5.7% | |||||||
Cactus, Cl. A | 109,701 | 5,557,453 | |||||
ChampionX | 165,151 | 3,535,883 | |||||
Chesapeake Energy | 44,800 | b | 3,460,799 | ||||
CNX Resources | 42,089 | a,b | 687,734 | ||||
Devon Energy | 53,102 | 3,162,224 | |||||
Dril-Quip | 96,350 | a | 2,778,734 | ||||
Earthstone Energy, Cl. A | 54,295 | a | 705,835 | ||||
Geopark | 7,225 | a | 106,930 | ||||
Green Plains | 13,575 | a,b | 444,445 | ||||
Gulfport Energy Operating | 17,110 | a | 1,180,248 | ||||
Helmerich & Payne | 54,881 | 1,988,339 | |||||
ION Geophysical | 15,059 | a | 8,749 | ||||
Northern Oil & Gas | 8,091 | 202,922 | |||||
Oasis Petroleum | 7,960 | 1,054,780 | |||||
Oceaneering International | 61,340 | a | 898,018 | ||||
Oil States International | 68,684 | a | 359,217 | ||||
Patterson-UTI Energy | 28,236 | 407,445 | |||||
PDC Energy | 61,544 | 3,970,819 | |||||
ProPetro Holding | 125,310 | a | 1,600,209 | ||||
TechnipFMC | 85,339 | a | 584,572 | ||||
TETRA Technologies | 85,009 | a | 272,029 | ||||
World Fuel Services | 5,128 | 145,328 | |||||
33,112,712 | |||||||
Food & Staples Retailing - .2% | |||||||
BJ's Wholesale Club Holdings | 19,450 | a | 1,222,821 | ||||
Food, Beverage & Tobacco - 2.4% | |||||||
Calavo Growers | 1,858 | a | 79,318 | ||||
Darling Ingredients | 56,204 | a | 4,073,666 | ||||
Lancaster Colony | 3,395 | 571,073 | |||||
Primo Water | 93,351 | 1,357,324 | |||||
Seaboard | 333 | 1,285,207 | |||||
The Hain Celestial Group | 90,364 | a | 3,285,635 | ||||
TreeHouse Foods | 83,728 | a | 3,286,324 | ||||
13,938,547 | |||||||
Health Care Equipment & Services - 6.8% | |||||||
Acadia Healthcare | 35,489 | a | 2,012,581 | ||||
Accuray | 163,303 | a | 566,661 | ||||
AMN Healthcare Services | 2,135 | a | 226,609 | ||||
AngioDynamics | 59,299 | a | 1,395,305 | ||||
AtriCure | 14,807 | a | 1,028,346 | ||||
Avanos Medical | 91,525 | a | 3,239,070 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.9% (continued) | |||||||
Health Care Equipment & Services - 6.8% (continued) | |||||||
BioLife Solutions | 28,710 | a | 674,685 | ||||
Cardiovascular Systems | 19,805 | a | 417,093 | ||||
Chemed | 414 | 198,012 | |||||
CONMED | 9,135 | 1,335,172 | |||||
Cross Country Healthcare | 62,325 | a | 1,391,717 | ||||
CryoPort | 16,840 | a | 578,117 | ||||
Cytosorbents | 39,184 | a | 151,642 | ||||
Encompass Health | 12,290 | 811,386 | |||||
Haemonetics | 89,734 | a | 5,178,549 | ||||
Hanger | 58,317 | a | 1,056,704 | ||||
Integer Holdings | 38,378 | a | 3,218,763 | ||||
LHC Group | 11,115 | a | 1,513,529 | ||||
Merit Medical Systems | 62,811 | a | 4,084,599 | ||||
Mesa Laboratories | 5,485 | b | 1,400,485 | ||||
Molina Healthcare | 6,486 | a | 1,990,359 | ||||
NuVasive | 76,190 | a | 4,123,403 | ||||
OraSure Technologies | 63,528 | a | 495,518 | ||||
Patterson Companies | 20,953 | 626,495 | |||||
The Ensign Group | 2,407 | 202,284 | |||||
TransMedics Group | 24,540 | a | 454,481 | ||||
Varex Imaging | 27,361 | a | 646,814 | ||||
39,018,379 | |||||||
Household & Personal Products - .5% | |||||||
Oil-Dri Corp. of America | 24,286 | 749,952 | |||||
Spectrum Brands Holdings | 22,732 | 2,109,075 | |||||
2,859,027 | |||||||
Insurance - 1.7% | |||||||
eHealth | 17,885 | a | 277,933 | ||||
HCI Group | 1,078 | 67,116 | |||||
Horace Mann Educators | 67,152 | 2,792,852 | |||||
Old Republic International | 41,176 | 1,084,988 | |||||
ProAssurance | 71,090 | 1,713,269 | |||||
Selective Insurance Group | 1,094 | 91,010 | |||||
Stewart Information Services | 18,130 | 1,230,664 | |||||
The Hanover Insurance Group | 17,263 | 2,408,361 | |||||
9,666,193 | |||||||
Materials - 6.9% | |||||||
Allegheny Technologies | 187,345 | a | 4,822,260 | ||||
American Vanguard | 125,289 | 1,888,105 | |||||
Avery Dennison | 13,024 | 2,294,829 | |||||
Avient | 83,421 | 4,370,426 | |||||
Balchem | 7,180 | 993,281 | |||||
Cleveland-Cliffs | 177,058 | a,b | 3,959,017 | ||||
Commercial Metals | 45,800 | 1,765,590 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.9% (continued) | |||||||
Materials - 6.9% (continued) | |||||||
Crown Holdings | 31,961 | 3,920,656 | |||||
Eagle Materials | 8,355 | 1,143,215 | |||||
Innospec | 1,493 | a | 142,582 | ||||
Materion | 46,620 | 3,895,100 | |||||
Mercer International | 122,680 | 1,640,232 | |||||
MP Materials | 19,840 | a,b | 905,101 | ||||
Neenah | 1,819 | 70,850 | |||||
Orion Engineered Carbons | 48,960 | 760,838 | |||||
Schweitzer-Mauduit International | 53,733 | 1,677,544 | |||||
Summit Materials, Cl. A | 40,070 | a | 1,250,985 | ||||
TriMas | 88,549 | 2,878,728 | |||||
Valvoline | 38,670 | 1,250,201 | |||||
39,629,540 | |||||||
Media & Entertainment - 2.6% | |||||||
Criteo, ADR | 96,821 | a | 3,220,266 | ||||
Gray Television | 177,304 | 4,154,233 | |||||
Lions Gate Entertainment, Cl. B | 150,975 | a | 2,151,394 | ||||
Loyalty Ventures | 3,615 | a | 86,760 | ||||
Madison Square Garden Entertainment | 53,378 | a,b | 4,182,700 | ||||
TechTarget | 12,920 | a | 1,012,670 | ||||
14,808,023 | |||||||
Pharmaceuticals Biotechnology & Life Sciences - 1.9% | |||||||
Amneal Pharmaceuticals | 107,608 | a | 487,464 | ||||
ANI Pharmaceuticals | 25,870 | a | 968,831 | ||||
Arvinas | 6,000 | a | 388,860 | ||||
Beam Therapeutics | 3,395 | a,b | 265,998 | ||||
Charles River Laboratories International | 5,567 | a | 1,620,888 | ||||
Cytokinetics | 12,265 | a,b | 433,200 | ||||
Emergent BioSolutions | 17,826 | a | 737,640 | ||||
Fluidigm | 146,334 | a,b | 538,509 | ||||
Intellia Therapeutics | 4,175 | a | 412,699 | ||||
Perrigo | 55,276 | 1,963,404 | |||||
Phibro Animal Health, Cl. A | 152,023 | 3,238,090 | |||||
11,055,583 | |||||||
Real Estate - 4.4% | |||||||
Americold Realty Trust | 24,270 | c | 648,494 | ||||
Apple Hospitality REIT | 7,546 | c | 133,489 | ||||
CareTrust REIT | 9,814 | c | 171,745 | ||||
Chatham Lodging Trust | 29,896 | a,c | 411,070 | ||||
Corporate Office Properties Trust | 135,838 | c | 3,560,314 | ||||
DigitalBridge Group | 57,690 | a,c | 418,253 | ||||
EPR Properties | 25,210 | c | 1,255,458 | ||||
Global Medical REIT | 82,240 | c | 1,291,168 | ||||
Hudson Pacific Properties | 61,470 | c | 1,622,808 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.9% (continued) | |||||||
Real Estate - 4.4% (continued) | |||||||
Industrial Logistics Properties Trust | 39,030 | c | 873,101 | ||||
Jones Lang LaSalle | 1,064 | a | 261,978 | ||||
Lamar Advertising, Cl. A | 20,064 | c | 2,188,180 | ||||
LXP Industrial Trust | 13,587 | c | 210,055 | ||||
National Health Investors | 1,910 | c | 101,822 | ||||
Newmark Group, Cl. A | 14,853 | 262,601 | |||||
Omega Healthcare Investors | 4,676 | b,c | 131,723 | ||||
Physicians Realty Trust | 174,860 | c | 2,843,224 | ||||
Piedmont Office Realty Trust, Cl. A | 11,367 | c | 193,694 | ||||
Potlatchdeltic | 38,056 | c | 2,089,274 | ||||
PS Business Parks | 5,020 | c | 799,636 | ||||
RLJ Lodging Trust | 29,640 | c | 414,664 | ||||
Sunstone Hotel Investors | 94,372 | a,c | 998,456 | ||||
Terreno Realty | 18,795 | c | 1,292,908 | ||||
The Howard Hughes | 11,360 | a | 1,085,789 | ||||
The Macerich Company | 36,810 | b,c | 563,193 | ||||
UMH Properties | 70,870 | c | 1,634,262 | ||||
25,457,359 | |||||||
Retailing - 2.3% | |||||||
American Eagle Outfitters | 28,450 | b | 599,726 | ||||
Asbury Automotive Group | 28,111 | a,b | 5,456,626 | ||||
Caleres | 20,569 | 427,012 | |||||
Chico's FAS | 64,871 | a | 304,894 | ||||
Leslie's | 44,245 | a | 942,861 | ||||
Lithia Motors | 703 | 239,596 | |||||
Monro | 31,167 | 1,454,876 | |||||
Signet Jewelers | 16,370 | 1,154,085 | |||||
The Aaron's Company | 7,162 | 150,330 | |||||
The Children's Place | 10,287 | a | 647,670 | ||||
The ODP | 38,388 | a | 1,689,072 | ||||
13,066,748 | |||||||
Semiconductors & Semiconductor Equipment - 5.0% | |||||||
Axcelis Technologies | 16,790 | a | 1,162,204 | ||||
Azenta | 19,450 | 1,702,264 | |||||
CEVA | 15,135 | a | 617,054 | ||||
CMC Materials | 6,498 | 1,204,924 | |||||
Cohu | 34,950 | a | 1,089,741 | ||||
FormFactor | 76,030 | a | 3,078,455 | ||||
Kulicke & Soffa Industries | 14,200 | 741,808 | |||||
MACOM Technology Solutions Holdings | 54,219 | a | 3,258,562 | ||||
MaxLinear | 77,628 | a | 4,762,478 | ||||
Onto Innovation | 15,795 | a | 1,361,687 | ||||
Power Integrations | 16,970 | 1,527,300 | |||||
Rambus | 83,019 | a | 2,241,513 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.9% (continued) | |||||||
Semiconductors & Semiconductor Equipment - 5.0% (continued) | |||||||
Semtech | 13,700 | a | 950,506 | ||||
Silicon Laboratories | 12,270 | a | 1,886,022 | ||||
Synaptics | 2,962 | a | 676,610 | ||||
Veeco Instruments | 86,209 | a,b | 2,462,991 | ||||
28,724,119 | |||||||
Software & Services - 4.4% | |||||||
Alliance Data Systems | 9,034 | 609,343 | |||||
BlackLine | 6,400 | a | 481,984 | ||||
Box, Cl. A | 36,421 | a | 932,742 | ||||
Cognyte Software | 86,110 | a | 960,988 | ||||
Concentrix | 9,940 | 1,986,907 | |||||
Conduent | 330,502 | a | 1,609,545 | ||||
Kyndryl Holdings | 64,735 | a | 1,026,697 | ||||
LivePerson | 18,930 | a | 383,900 | ||||
Mandiant | 97,841 | a | 1,937,252 | ||||
MAXIMUS | 15,949 | 1,257,738 | |||||
New Relic | 10,754 | a | 712,345 | ||||
OneSpan | 42,046 | a | 579,394 | ||||
Perficient | 2,517 | a | 256,482 | ||||
Ping Identity Holding | 36,454 | a | 766,992 | ||||
Qualys | 4,440 | a | 556,376 | ||||
Switch, Cl. A | 105,460 | 2,744,069 | |||||
The Hackett Group | 51,900 | 1,075,368 | |||||
Unisys | 108,190 | a | 2,312,020 | ||||
Varonis Systems | 12,530 | a | 546,308 | ||||
Verint Systems | 34,245 | a | 1,720,126 | ||||
Workiva | 9,135 | a | 961,915 | ||||
Xperi Holding | 111,737 | 1,935,285 | |||||
25,353,776 | |||||||
Technology Hardware & Equipment - 5.2% | |||||||
Ciena | 46,393 | a | 3,174,209 | ||||
Coherent | 917 | a | 242,381 | ||||
Diebold Nixdorf | 72,046 | a | 626,801 | ||||
EMCORE | 60,437 | a | 234,496 | ||||
II-VI | 66,283 | a,b | 4,604,017 | ||||
Infinera | 71,010 | a | 655,422 | ||||
Innoviz Technologies | 44,816 | a | 179,264 | ||||
Itron | 21,777 | a | 1,038,110 | ||||
Kimball Electronics | 54,460 | a | 938,890 | ||||
Knowles | 167,086 | a,b | 3,639,133 | ||||
Methode Electronics | 101,721 | 4,642,547 | |||||
OSI Systems | 22,261 | a | 1,795,795 | ||||
Quantum | 221,757 | a | 576,568 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.9% (continued) | |||||||
Technology Hardware & Equipment - 5.2% (continued) | |||||||
Radware | 17,059 | a | 587,000 | ||||
Ribbon Communications | 107,343 | a | 326,323 | ||||
Stratasys | 73,515 | a | 1,843,756 | ||||
Teledyne Technologies | 1,873 | a | 804,229 | ||||
Viasat | 29,936 | a,b | 1,366,279 | ||||
Viavi Solutions | 81,048 | a | 1,329,187 | ||||
Vishay Precision Group | 41,360 | a | 1,299,118 | ||||
29,903,525 | |||||||
Telecommunication Services - .3% | |||||||
ATN International | 60,036 | 2,001,000 | |||||
Transportation - 1.9% | |||||||
Allegiant Travel | 17,798 | a | 3,098,454 | ||||
Heartland Express | 78,792 | 1,131,453 | |||||
Hub Group, Cl. A | 17,590 | a | 1,484,596 | ||||
JetBlue Airways | 65,125 | a | 994,459 | ||||
Kirby | 23,560 | a | 1,534,934 | ||||
Knight-Swift Transportation Holdings | 3,909 | 212,962 | |||||
Ryder System | 17,350 | 1,367,874 | |||||
Werner Enterprises | 22,710 | 986,977 | |||||
10,811,709 | |||||||
Utilities - 1.6% | |||||||
ALLETE | 1,583 | 99,634 | |||||
Avista | 3,670 | 163,792 | |||||
Chesapeake Utilities | 8,400 | 1,116,780 | |||||
IDACORP | 1,757 | 182,640 | |||||
Ormat Technologies | 27,793 | b | 1,983,031 | ||||
Portland General Electric | 80,244 | 4,073,988 | |||||
Vistra Energy | 62,803 | 1,433,164 | |||||
9,053,029 | |||||||
Total Common Stocks (cost $439,033,445) | 558,160,413 | ||||||
Convertible Bonds - .0% | |||||||
Energy - .0% | |||||||
ION Geophysical | 8.00 | 12/15/2025 | 48,000 | 30,144 | |||
Exchange-Traded Funds - .6% | |||||||
Registered Investment Companies - .6% | |||||||
iShares Russell 2000 ETF | 17,265 | b | 3,510,320 |
1-Day | |||||||
Investment Companies - 1.6% | |||||||
Registered Investment Companies - 1.6% | |||||||
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares | 0.10 | 9,250,885 | d | 9,250,885 | |||
Investment of Cash Collateral for Securities Loaned - 2.8% | |||||||
Registered Investment Companies - 2.8% | |||||||
Dreyfus Institutional Preferred Government Plus Money Market Fund, SL Shares | 0.10 | 16,194,521 | d | 16,194,521 | |||
Total Investments (cost $467,996,857) | 101.9% | 587,146,283 | |||||
Liabilities, Less Cash and Receivables | (1.9%) | (11,217,955) | |||||
Net Assets | 100.0% | 575,928,328 |
ADR—American Depository Receipt
ETF—Exchange-Traded Fund
REIT—Real Estate Investment Trust
a Non-income producing security.
b Security, or portion thereof, on loan. At February 28, 2022, the value of the fund’s securities on loan was $34,939,721 and the value of the collateral was $36,564,057, consisting of cash collateral of $16,194,521 and U.S. Government & Agency securities valued at $20,369,536. In addition, the value of collateral may include pending sales that are also on loan.
c Investment in real estate investment trust within the United States.
d Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company’s prospectus.
STATEMENT OF INVESTMENTS
BNY Mellon Select Managers Small Cap Value Fund
February 28, 2022 (Unaudited)
The following is a summary of the inputs used as of February 28, 2022 in valuing the fund’s investments:
Level 1-Unadjusted Quoted Prices | Level 2- Other Significant Observable Inputs | Level 3-Significant Unobservable Inputs | Total | |||
Assets ($) | ||||||
Investments in Securities:† | ||||||
Corporate Bonds | - | 30,144 | - | 30,144 | ||
Equity Securities - Common Stocks | 558,160,413 | - | - | 558,160,413 | ||
Exchange-Traded Funds | 3,510,320 | - | - | 3,510,320 | ||
Investment Companies | 25,445,406 | - | - | 25,445,406 |
† See Statement of Investments for additional detailed categorizations, if any.
The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. The fund’s financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.
The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).
Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.
Various inputs are used in determining the value of the fund’s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:
Level 1—unadjusted quoted prices in active markets for identical investments.
Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).
Level 3—significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund’s investments are as follows:
Investments in equity securities are valued at the last sales price on the securities exchange or national securities market on which such securities are primarily traded. Securities listed on the National Market System for which market quotations are available are valued at the official closing price or, if there is no official closing price that day, at the last sales price. For open short positions, asked prices are used for valuation
purposes. Bid price is used when no asked price is available. Registered investment companies that are not traded on an exchange are valued at their net asset value. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.
Securities not listed on an exchange or the national securities market, or securities for which there were no transactions, are valued at the average of the most recent bid and asked prices. U.S. Treasury Bills are valued at the mean price between quoted bid prices and asked prices by an independent pricing service (the “Service”) approved by the Board Members ( “Board”). These securities are generally categorized within Level 2 of the fair value hierarchy.
The Service’s procedures are reviewed by BNY Mellon under the general supervision of the Board.
Fair valuing of securities may be determined with the assistance of a pricing service using calculations based on indices of domestic securities and other appropriate indicators, such as prices of relevant American Depository Receipts and futures. Utilizing these techniques may result in transfers between Level 1 and Level 2 of the fair value hierarchy.
When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded (for example, a foreign exchange or market), but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.
For securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.
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 February 28, 2022, accumulated net unrealized appreciation on investments was $119,149,426, consisting of $138,980,201 gross unrealized appreciation and $19,830,775 gross unrealized depreciation.
At February 28, 2022, 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.