STATEMENT OF INVESTMENTS
BNY Mellon Select Managers Small Cap Growth Fund
August 31, 2023 (Unaudited)
Description | Shares | Value ($) | |||||
Common Stocks - 96.0% | |||||||
Automobiles & Components - 2.4% | |||||||
Dorman Products, Inc. | 7,486 | a | 617,670 | ||||
Fox Factory Holding Corp. | 16,061 | a | 1,779,719 | ||||
LCI Industries | 8,685 | b | 1,088,057 | ||||
Modine Manufacturing Co. | 6,886 | a | 327,705 | ||||
Visteon Corp. | 9,173 | a | 1,277,524 | ||||
5,090,675 | |||||||
Banks - 1.8% | |||||||
Axos Financial, Inc. | 47,153 | a | 2,031,823 | ||||
Bank OZK | 13,665 | 548,923 | |||||
New York Community Bancorp, Inc. | 22,330 | 274,212 | |||||
Western Alliance Bancorp | 3,090 | 154,531 | |||||
Wintrust Financial Corp. | 8,694 | 674,741 | |||||
3,684,230 | |||||||
Capital Goods - 15.4% | |||||||
AAON, Inc. | 23,553 | 1,485,252 | |||||
AeroVironment, Inc. | 6,806 | a | 660,386 | ||||
Alamo Group, Inc. | 2,652 | 455,216 | |||||
Albany International Corp., Cl. A | 7,033 | 652,100 | |||||
APi Group Corp. | 19,718 | a | 555,062 | ||||
Applied Industrial Technologies, Inc. | 5,118 | 790,066 | |||||
Archer Aviation, Inc., CI. A | 30,503 | a,b | 212,606 | ||||
Arcosa, Inc. | 3,251 | 254,293 | |||||
Armstrong World Industries, Inc. | 9,774 | 748,591 | |||||
Atkore, Inc. | 4,905 | a | 755,223 | ||||
Barnes Group, Inc. | 8,389 | 329,688 | |||||
Boise Cascade Co. | 2,523 | 275,941 | |||||
BWX Technologies, Inc. | 2,892 | 213,314 | |||||
Chart Industries, Inc. | 4,516 | a | 815,499 | ||||
Comfort Systems USA, Inc. | 4,713 | 869,878 | |||||
Construction Partners, Inc., Cl. A | 39,971 | a | 1,388,992 | ||||
Crane Co. | 8,518 | 776,160 | |||||
Curtiss-Wright Corp. | 1,234 | 256,660 | |||||
Donaldson Co., Inc. | 9,190 | 586,965 | |||||
EMCOR Group, Inc. | 1,768 | 396,474 | |||||
Energy Recovery, Inc. | 5,958 | a | 161,938 | ||||
EnerSys | 2,132 | 223,817 | |||||
EnPro Industries, Inc. | 3,275 | 446,678 | |||||
Esab Corp. | 8,097 | 584,360 | |||||
ESCO Technologies, Inc. | 11,069 | 1,184,494 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.0% (continued) | |||||||
Capital Goods - 15.4% (continued) | |||||||
Federal Signal Corp. | 5,424 | 330,593 | |||||
Fluence Energy, Inc. | 17,445 | a,b | 459,676 | ||||
Fluor Corp. | 15,702 | a | 549,413 | ||||
FTAI Aviation Ltd. | 8,348 | 308,542 | |||||
GMS, Inc. | 2,514 | a | 174,321 | ||||
H&E Equipment Services, Inc. | 12,670 | 574,204 | |||||
Hayward Holdings, Inc. | 40,075 | a,b | 593,110 | ||||
IES Holdings, Inc. | 2,555 | a | 191,574 | ||||
Kratos Defense & Security Solutions, Inc. | 34,521 | a | 555,443 | ||||
Masonite International Corp. | 16,753 | a | 1,720,701 | ||||
MSC Industrial Direct Co., Inc., Cl. A | 2,261 | 230,758 | |||||
MYR Group, Inc. | 1,926 | a | 273,627 | ||||
nVent Electric PLC | 4,781 | 270,318 | |||||
Owens Corning | 2,081 | 299,477 | |||||
Parsons Corp. | 11,269 | a | 642,558 | ||||
PGT Innovations, Inc. | 23,025 | a | 649,075 | ||||
Powell Industries, Inc. | 3,758 | 315,559 | |||||
Primoris Services Corp. | 7,958 | 281,474 | |||||
RBC Bearings, Inc. | 7,287 | a | 1,679,945 | ||||
Regal Rexnord Corp. | 1,553 | 251,881 | |||||
Rocket Lab USA, Inc. | 30,707 | a,b | 193,761 | ||||
Rush Enterprises, Inc., Cl. A | 15,663 | 648,605 | |||||
Simpson Manufacturing Co., Inc. | 2,234 | 356,904 | |||||
SiteOne Landscape Supply, Inc. | 6,472 | a | 1,107,942 | ||||
SPX Technologies, Inc. | 8,479 | a | 670,010 | ||||
Standex International Corp. | 3,459 | 531,406 | |||||
Sterling Infrastructure, Inc. | 2,471 | a | 204,500 | ||||
Symbotic, Inc. | 8,435 | a | 352,499 | ||||
The AZEK Company, Inc. | 19,826 | a | 674,282 | ||||
Trex Co., Inc. | 22,049 | a | 1,573,637 | ||||
Vertiv Holdings Co. | 10,265 | a | 404,338 | ||||
Vicor Corp. | 3,177 | a | 215,305 | ||||
32,365,091 | |||||||
Commercial & Professional Services - 7.6% | |||||||
CACI International, Inc., Cl. A | 2,344 | a | 768,855 | ||||
Casella Waste Systems, Inc., Cl. A | 21,412 | a | 1,686,623 | ||||
CBIZ, Inc. | 17,728 | a | 994,718 | ||||
Cimpress PLC | 4,276 | a | 276,272 | ||||
Clean Harbors, Inc. | 2,783 | a | 471,273 | ||||
ExlService Holdings, Inc. | 52,409 | a | 1,531,915 | ||||
Exponent, Inc. | 17,526 | 1,574,886 | |||||
Franklin Covey Co. | 14,041 | a | 599,129 | ||||
Huron Consulting Group, Inc. | 2,621 | a | 261,969 | ||||
ICF International, Inc. | 6,584 | 889,235 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.0% (continued) | |||||||
Commercial & Professional Services - 7.6% (continued) | |||||||
KBR, Inc. | 2,684 | 165,120 | |||||
MAXIMUS, Inc. | 9,356 | 756,152 | |||||
Montrose Environmental Group, Inc. | 10,232 | a | 393,318 | ||||
MSA Safety, Inc. | 4,344 | 793,562 | |||||
NV5 Global, Inc. | 5,714 | a | 581,571 | ||||
Paycor HCM, Inc. | 21,634 | a | 507,750 | ||||
RB Global, Inc. | 8,230 | 507,956 | |||||
The Brink's Company | 10,386 | 787,363 | |||||
Upwork, Inc. | 14,261 | a | 211,205 | ||||
Willdan Group, Inc. | 12,566 | a | 303,343 | ||||
WNS Holdings Ltd., ADR | 27,939 | a | 1,825,814 | ||||
15,888,029 | |||||||
Consumer Discretionary Distribution - 2.1% | |||||||
Abercrombie & Fitch Co., Cl. A | 4,634 | a | 249,078 | ||||
Dick's Sporting Goods, Inc. | 823 | 95,748 | |||||
Global-e Online Ltd. | 4,437 | a | 175,838 | ||||
Leslie's, Inc. | 30,607 | a | 191,600 | ||||
Ollie's Bargain Outlet Holdings, Inc. | 24,070 | a | 1,855,316 | ||||
Overstock.com, Inc. | 26,295 | a | 686,562 | ||||
Pool Corp. | 1,593 | 582,401 | |||||
Signet Jewelers Ltd. | 6,314 | b | 473,550 | ||||
Sleep Number Corp. | 6,137 | a | 156,984 | ||||
4,467,077 | |||||||
Consumer Durables & Apparel - 1.5% | |||||||
Deckers Outdoor Corp. | 351 | a | 185,711 | ||||
Figs, Inc., Cl. A | 29,855 | a | 184,504 | ||||
Hasbro, Inc. | 3,359 | 241,848 | |||||
KB Home | 3,281 | 166,675 | |||||
M/I Homes, Inc. | 2,224 | a | 218,352 | ||||
Meritage Homes Corp. | 1,654 | 229,972 | |||||
Skyline Champion Corp. | 6,597 | a | 470,168 | ||||
Taylor Morrison Home Corp. | 14,422 | a | 683,603 | ||||
TopBuild Corp. | 1,005 | a | 291,530 | ||||
Tri Pointe Homes, Inc. | 13,073 | a | 406,571 | ||||
3,078,934 | |||||||
Consumer Services - 3.7% | |||||||
Boyd Gaming Corp. | 10,682 | 714,305 | |||||
Bright Horizons Family Solutions, Inc. | 7,491 | a | 707,300 | ||||
Century Casinos, Inc. | 37,936 | a | 246,584 | ||||
Hilton Grand Vacations, Inc. | 11,248 | a | 491,763 | ||||
Kura Sushi USA, Inc., Cl. A | 7,482 | a | 653,703 | ||||
Shake Shack, Inc., Cl. A | 3,689 | a | 258,230 | ||||
Stride, Inc. | 39,046 | a | 1,659,065 | ||||
Sweetgreen, Inc., Cl. A | 15,306 | a,b | 219,794 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.0% (continued) | |||||||
Consumer Services - 3.7% (continued) | |||||||
Texas Roadhouse, Inc. | 15,712 | 1,635,620 | |||||
Vail Resorts, Inc. | 2,827 | 639,807 | |||||
Xponential Fitness, Inc., Cl. A | 22,150 | a | 479,769 | ||||
7,705,940 | |||||||
Consumer Staples Distribution - .2% | |||||||
Grocery Outlet Holding Corp. | 11,827 | a | 364,863 | ||||
Energy - 3.5% | |||||||
Archrock, Inc. | 20,614 | 263,653 | |||||
Borr Drilling Ltd. | 29,092 | a | 203,353 | ||||
Cactus, Inc., Cl. A | 12,842 | 684,992 | |||||
California Resources Corp. | 4,445 | b | 248,209 | ||||
ChampionX Corp. | 22,255 | 803,183 | |||||
CONSOL Energy, Inc. | 2,745 | a | 236,180 | ||||
Diamond Offshore Drilling, Inc. | 13,139 | a | 195,377 | ||||
Gulfport Energy Corp. | 2,122 | a | 250,396 | ||||
Helmerich & Payne, Inc. | 15,806 | 632,082 | |||||
Noble Corp. PLC | 23,387 | 1,233,431 | |||||
Northern Oil & Gas, Inc. | 6,042 | 252,736 | |||||
Oceaneering International, Inc. | 11,191 | a | 255,043 | ||||
Permian Resources Corp. | 14,815 | 210,077 | |||||
TechnipFMC PLC | 43,048 | 819,634 | |||||
Tidewater, Inc. | 4,716 | a | 306,681 | ||||
Transocean Ltd. | 26,895 | a | 220,001 | ||||
Weatherford International PLC | 1,474 | a | 130,478 | ||||
Weatherford International PLC | 4,312 | a | 381,698 | ||||
7,327,204 | |||||||
Equity Real Estate Investment - .7% | |||||||
Outfront Media, Inc. | 19,953 | c | 226,467 | ||||
Tanger Factory Outlet Centers, Inc. | 29,375 | c | 682,969 | ||||
Terreno Realty Corp. | 8,666 | c | 527,673 | ||||
1,437,109 | |||||||
Financial Services - 3.5% | |||||||
Donnelley Financial Solutions, Inc. | 35,205 | a | 1,734,550 | ||||
Euronet Worldwide, Inc. | 16,188 | a | 1,414,184 | ||||
Evercore, Inc., Cl. A | 3,102 | 434,435 | |||||
EVERTEC, Inc. | 18,880 | 747,082 | |||||
Federal Agricultural Mortgage Corp., Cl. C | 4,791 | 806,421 | |||||
I3 Verticals, Inc., Cl. A | 23,610 | a | 558,377 | ||||
MGIC Investment Corp. | 27,431 | 482,237 | |||||
Mr. Cooper Group, Inc. | 4,039 | a | 228,850 | ||||
NMI Holdings, Inc., Cl. A | 8,385 | a | 239,979 | ||||
Pennymac Financial Services, Inc. | 3,135 | 224,999 | |||||
Remitly Global, Inc. | 10,776 | a | 271,016 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.0% (continued) | |||||||
Financial Services - 3.5% (continued) | |||||||
SoFi Technologies, Inc. | 21,132 | a,b | 183,003 | ||||
WisdomTree, Inc. | 15,509 | 113,216 | |||||
7,438,349 | |||||||
Food, Beverage & Tobacco - 2.2% | |||||||
Celsius Holdings, Inc. | 5,078 | a | 995,491 | ||||
Freshpet, Inc. | 18,195 | a,b | 1,373,904 | ||||
J&J Snack Foods Corp. | 6,506 | 1,054,818 | |||||
MGP Ingredients, Inc. | 8,118 | 973,349 | |||||
The Vita Coco Co., Inc. | 6,900 | a | 195,201 | ||||
4,592,763 | |||||||
Health Care Equipment & Services - 7.1% | |||||||
Addus HomeCare Corp. | 6,156 | a | 539,881 | ||||
AMN Healthcare Services, Inc. | 3,601 | a | 318,256 | ||||
AtriCure, Inc. | 9,894 | a | 446,714 | ||||
Axonics, Inc. | 8,422 | a | 482,581 | ||||
Certara, Inc. | 65,469 | a | 1,057,979 | ||||
Doximity, Inc., Cl. A | 30,681 | a,b | 731,435 | ||||
Establishment Labs Holdings, Inc. | 13,432 | a,b | 810,890 | ||||
Evolent Health, Inc., Cl. A | 11,810 | a | 301,273 | ||||
Glaukos Corp. | 3,561 | a | 267,574 | ||||
Globus Medical, Inc., Cl. A | 18,075 | a | 977,858 | ||||
HealthEquity, Inc. | 10,346 | a | 698,872 | ||||
Inmode Ltd. | 16,602 | a | 648,972 | ||||
Inspire Medical Systems, Inc. | 1,094 | a | 248,207 | ||||
Lantheus Holdings, Inc. | 11,049 | a | 756,194 | ||||
LeMaitre Vascular, Inc. | 11,429 | 660,710 | |||||
Masimo Corp. | 1,206 | a,b | 137,822 | ||||
Merit Medical Systems, Inc. | 8,926 | a | 582,689 | ||||
Neogen Corp. | 47,005 | a | 1,086,755 | ||||
Omnicell, Inc. | 14,444 | a | 821,286 | ||||
Premier, Inc., Cl. A | 9,343 | 201,155 | |||||
RxSight, Inc. | 8,539 | a | 247,716 | ||||
Shockwave Medical, Inc. | 634 | 139,727 | |||||
Silk Road Medical, Inc. | 18,310 | a | 353,749 | ||||
STAAR Surgical Co. | 12,001 | a | 520,363 | ||||
Surgery Partners, Inc. | 15,798 | a | 572,835 | ||||
The Ensign Group, Inc. | 7,504 | 752,051 | |||||
TransMedics Group, Inc. | 3,851 | a | 252,741 | ||||
UFP Technologies, Inc. | 1,149 | a | 201,891 | ||||
14,818,176 | |||||||
Household & Personal Products - 1.3% | |||||||
BellRing Brands, Inc. | 11,941 | a | 495,552 | ||||
e.l.f. Beauty, Inc. | 4,011 | a | 556,365 | ||||
Inter Parfums, Inc. | 7,383 | 1,031,627 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.0% (continued) | |||||||
Household & Personal Products - 1.3% (continued) | |||||||
WD-40 Co. | 2,767 | 594,545 | |||||
2,678,089 | |||||||
Insurance - 2.3% | |||||||
BRP Group, Inc., Cl. A | 17,896 | a | 475,855 | ||||
Kinsale Capital Group, Inc. | 8,158 | 3,252,024 | |||||
Palomar Holdings, Inc. | 14,775 | a | 753,673 | ||||
Stewart Information Services Corp. | 9,603 | 444,811 | |||||
4,926,363 | |||||||
Materials - 2.6% | |||||||
Alpha Metallurgical Resources, Inc. | 1,163 | 235,903 | |||||
AptarGroup, Inc. | 1,804 | 239,138 | |||||
Aspen Aerogels, Inc. | 33,555 | a | 204,350 | ||||
Balchem Corp. | 9,496 | a | 1,334,188 | ||||
Carpenter Technology Corp. | 14,427 | 903,563 | |||||
Eagle Materials, Inc. | 1,229 | 232,674 | |||||
Ecovyst, Inc. | 28,596 | a | 292,823 | ||||
Ingevity Corp. | 13,242 | a | 713,611 | ||||
Livent Corp. | 20,305 | a | 435,948 | ||||
Louisiana-Pacific Corp. | 8,145 | 508,900 | |||||
Methanex Corp. | 9,967 | 424,096 | |||||
5,525,194 | |||||||
Media & Entertainment - 2.5% | |||||||
Atlanta Braves Holdings, Inc., CI. A | 2,050 | a,b | 85,772 | ||||
Atlanta Braves Holdings, Inc., CI. C | 4,234 | a | 155,981 | ||||
Bumble, Inc., CI. A | 23,792 | a | 399,230 | ||||
Eventbrite, Inc., Cl. A | 52,511 | 531,936 | |||||
Gambling.com Group Ltd | 13,036 | a | 184,850 | ||||
Shutterstock, Inc. | 11,969 | b | 504,015 | ||||
TechTarget, Inc. | 5,322 | a | 153,008 | ||||
World Wrestling Entertainment, Inc., Cl. A | 18,104 | 1,747,941 | |||||
Yelp, Inc. | 6,090 | a | 260,957 | ||||
Ziff Davis, Inc. | 17,573 | a | 1,171,240 | ||||
5,194,930 | |||||||
Pharmaceuticals, Biotechnology & Life Sciences - 11.1% | |||||||
ACADIA Pharmaceuticals, Inc. | 37,092 | a | 1,002,225 | ||||
ADMA Biologics, Inc. | 45,908 | a | 176,746 | ||||
Alkermes PLC | 13,212 | a | 385,658 | ||||
Amicus Therapeutics, Inc. | 36,279 | a | 465,097 | ||||
Amphastar Pharmaceuticals, Inc. | 8,724 | a | 465,076 | ||||
argenx SE, ADR | 629 | a | 316,066 | ||||
Ascendis Pharma A/S, ADR | 6,883 | a,b | 674,672 | ||||
Avid Bioservices, Inc. | 29,630 | a | 349,634 | ||||
Avita Medical, Inc. | 10,686 | a | 174,182 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.0% (continued) | |||||||
Pharmaceuticals, Biotechnology & Life Sciences - 11.1% (continued) | |||||||
Axsome Therapeutics, Inc. | 5,874 | a,b | 474,620 | ||||
Azenta, Inc. | 6,477 | a | 365,497 | ||||
BioCryst Pharmaceuticals, Inc. | 67,591 | a | 480,572 | ||||
Biohaven Ltd. | 2,311 | a | 42,268 | ||||
BioLife Solutions, Inc. | 19,789 | a,b | 261,413 | ||||
Bio-Techne Corp. | 12,895 | 1,010,968 | |||||
Bridgebio Pharma, Inc. | 7,532 | a | 225,282 | ||||
Corcept Therapeutics, Inc. | 29,522 | a | 966,255 | ||||
CryoPort, Inc. | 23,600 | a | 332,760 | ||||
CymaBay Therapeutics, Inc. | 23,940 | a | 329,176 | ||||
Cytokinetics, Inc. | 821 | a | 28,686 | ||||
Day One Biopharmaceuticals, Inc. | 14,114 | a | 190,398 | ||||
Disc Medicine, Inc. | 4,525 | a | 239,599 | ||||
Evolus, Inc. | 25,579 | a | 252,976 | ||||
Halozyme Therapeutics, Inc. | 32,348 | a | 1,376,731 | ||||
Ideaya Biosciences, Inc. | 7,416 | a | 217,734 | ||||
Immunocore Holdings PLC, ADR | 1,724 | a,b | 97,009 | ||||
ImmunoGen, Inc. | 25,567 | a | 404,981 | ||||
Immunovant, Inc. | 8,878 | a | 201,619 | ||||
Insmed, Inc. | 7,672 | a | 167,940 | ||||
Intra-Cellular Therapies, Inc. | 3,791 | a | 210,476 | ||||
Iovance Biotherapeutics, Inc. | 54,253 | a | 327,688 | ||||
Karuna Therapeutics, Inc. | 2,144 | a | 402,557 | ||||
Kiniksa Pharmaceuticals Ltd., CI. A | 29,791 | a | 513,299 | ||||
Krystal Biotech, Inc. | 5,416 | a | 674,184 | ||||
Legend Biotech Corp., ADR | 3,151 | a,b | 218,553 | ||||
Ligand Pharmaceuticals, Inc. | 8,627 | a | 567,398 | ||||
Medpace Holdings, Inc. | 5,371 | a | 1,451,620 | ||||
Mesa Laboratories, Inc. | 2,491 | b | 357,110 | ||||
MiMedx Group, Inc. | 27,390 | a | 203,234 | ||||
Mirum Pharmaceuticals, Inc. | 12,404 | a | 327,838 | ||||
Neurocrine Biosciences, Inc. | 5,376 | a | 585,392 | ||||
Nuvalent, Inc., CI. A | 986 | a | 44,932 | ||||
OmniAb, Inc. | 80,954 | a | 469,533 | ||||
Optinose, Inc. | 19,374 | a | 23,055 | ||||
Pacira Biosciences, Inc. | 30,193 | a | 1,065,813 | ||||
Prestige Consumer Healthcare, Inc. | 24,894 | a | 1,452,067 | ||||
PTC Therapeutics, Inc. | 6,854 | a | 270,733 | ||||
Puma Biotechnology, Inc. | 8,091 | a | 29,370 | ||||
Quanterix Corp. | 7,120 | a | 190,816 | ||||
Revance Therapeutics, Inc. | 17,696 | a | 311,980 | ||||
Roivant Sciences Ltd. | 25,996 | a | 300,774 | ||||
Supernus Pharmaceuticals, Inc. | 14,829 | a | 472,155 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.0% (continued) | |||||||
Pharmaceuticals, Biotechnology & Life Sciences - 11.1% (continued) | |||||||
UroGen Pharma Ltd. | 8,817 | a | 154,121 | ||||
Vaxcyte, Inc. | 2,614 | a | 135,719 | ||||
Veracyte, Inc. | 18,717 | a | 494,129 | ||||
Vericel Corp. | 4,765 | a | 156,435 | ||||
Verona Pharma PLC, ADR | 2,583 | a | 50,188 | ||||
Xenon Pharmaceuticals, Inc. | 3,941 | a | 153,620 | ||||
23,290,629 | |||||||
Real Estate Management & Development - .3% | |||||||
DigitalBridge Group, Inc. | 21,389 | 372,596 | |||||
The St. Joe Company | 3,859 | 238,255 | |||||
610,851 | |||||||
Semiconductors & Semiconductor Equipment - 3.8% | |||||||
Aehr Test Systems | 4,917 | a,b | 250,816 | ||||
Allegro MicroSystems, Inc. | 10,684 | a | 408,663 | ||||
Axcelis Technologies, Inc. | 4,984 | a | 957,675 | ||||
CEVA, Inc. | 16,315 | a | 378,834 | ||||
Credo Technology Group Holding Ltd. | 11,812 | a | 194,426 | ||||
Lattice Semiconductor Corp. | 7,585 | a | 737,717 | ||||
MACOM Technology Solutions Holdings, Inc. | 3,636 | a | 307,460 | ||||
Monolithic Power Systems, Inc. | 1,145 | 596,785 | |||||
Onto Innovation, Inc. | 23,641 | a | 3,285,626 | ||||
Rambus, Inc. | 3,792 | a | 214,134 | ||||
SiTime Corp. | 1,664 | a | 220,796 | ||||
Universal Display Corp. | 1,390 | 225,958 | |||||
Veeco Instruments, Inc. | 6,726 | a | 196,332 | ||||
7,975,222 | |||||||
Software & Services - 11.6% | |||||||
ACI Worldwide, Inc. | 60,747 | a | 1,474,937 | ||||
Agilysys, Inc. | 10,701 | a | 754,902 | ||||
Alarm.com Holdings, Inc. | 16,337 | a | 956,858 | ||||
AppFolio, Inc., Cl. A | 3,018 | a | 581,780 | ||||
Applied Digital Corp. | 19,995 | a | 120,770 | ||||
AppLovin Corp., Cl. A | 7,394 | a | 319,569 | ||||
Blackbaud, Inc. | 13,492 | a | 1,026,876 | ||||
BlackLine, Inc. | 14,941 | a | 897,356 | ||||
Box, Inc., Cl. A | 9,841 | a | 260,590 | ||||
C3.ai, Inc., Cl. A | 3,672 | a,b | 113,905 | ||||
Confluent, Inc., Cl. A | 14,447 | a | 478,051 | ||||
Consensus Cloud Solutions, Inc. | 6,351 | a | 202,787 | ||||
Digital Turbine, Inc. | 60,268 | a | 536,988 | ||||
DoubleVerify Holdings, Inc. | 47,650 | a | 1,611,046 | ||||
Dropbox, Inc., CI. A | 8,139 | a | 226,183 |
Description | Shares | Value ($) | |||||
Common Stocks - 96.0% (continued) | |||||||
Software & Services - 11.6% (continued) | |||||||
Elastic NV | 1,693 | a | 104,763 | ||||
Envestnet, Inc. | 13,749 | a | 751,108 | ||||
Fair Isaac Corp. | 2,529 | a | 2,287,708 | ||||
Fastly, Inc., CI. A | 12,691 | a | 301,919 | ||||
Freshworks, Inc., Cl. A | 20,902 | a | 457,127 | ||||
HashiCorp, Inc., Cl. A | 7,981 | a | 232,726 | ||||
InterDigital, Inc. | 2,528 | 219,203 | |||||
nCino, Inc. | 15,523 | a | 510,241 | ||||
Nutanix, Inc., Cl. A | 25,616 | a | 796,657 | ||||
Perficient, Inc. | 12,196 | a | 777,983 | ||||
Qualys, Inc. | 3,594 | a | 559,406 | ||||
SentinelOne, Inc., Cl. A | 3,066 | a,b | 50,988 | ||||
Smartsheet, Inc., Cl. A | 2,101 | a | 87,675 | ||||
SolarWinds Corp. | 5,250 | a | 55,913 | ||||
Sprinklr, Inc., CI. A | 30,197 | a | 456,880 | ||||
Sprout Social, Inc., Cl. A | 17,123 | a | 916,765 | ||||
SPS Commerce, Inc. | 9,673 | a | 1,800,436 | ||||
The Descartes Systems Group, Inc. | 30,543 | a | 2,289,504 | ||||
Tyler Technologies, Inc. | 1,782 | a | 710,002 | ||||
Wix.com Ltd. | 5,465 | a | 539,778 | ||||
Workiva, Inc. | 8,117 | a | 907,886 | ||||
24,377,266 | |||||||
Technology Hardware & Equipment - 5.7% | |||||||
Advanced Energy Industries, Inc. | 2,423 | 286,084 | |||||
Applied Optoelectronics, Inc. | 14,386 | a | 198,095 | ||||
Arlo Technologies, Inc. | 129,321 | a | 1,263,467 | ||||
Badger Meter, Inc. | 1,844 | 306,252 | |||||
Belden, Inc. | 9,854 | 925,290 | |||||
Calix, Inc. | 17,792 | a | 827,506 | ||||
Cambium Networks Corp. | 20,154 | a | 185,618 | ||||
Crane NXT Co. | 4,342 | 257,741 | |||||
Digi International, Inc. | 11,880 | a | 396,554 | ||||
ePlus, Inc. | 19,658 | a | 1,304,898 | ||||
Evolv Technologies Holdings, Inc. | 44,930 | a | 314,061 | ||||
Extreme Networks, Inc. | 26,431 | a | 725,531 | ||||
Fabrinet | 2,047 | a | 329,096 | ||||
IonQ, Inc. | 15,102 | a | 259,603 | ||||
Itron, Inc. | 3,075 | a | 210,361 | ||||
Ituran Location & Control Ltd. | 3,940 | 119,303 | |||||
Napco Security Technologies, Inc. | 14,181 | 351,405 | |||||
Novanta, Inc. | 8,331 | a | 1,391,110 | ||||
OSI Systems, Inc. | 1,571 | a | 214,206 | ||||
PAR Technology Corp. | 5,484 | a | 238,444 | ||||
Pure Storage, Inc., Cl. A | 6,549 | a | 239,628 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 96.0% (continued) | |||||||
Technology Hardware & Equipment - 5.7% (continued) | |||||||
Radware Ltd. | 27,681 | a | 478,328 | ||||
Super Micro Computer, Inc. | 3,023 | a | 831,567 | ||||
Vishay Intertechnology, Inc. | 7,888 | 216,447 | |||||
11,870,595 | |||||||
Telecommunication Services - .2% | |||||||
Iridium Communications, Inc. | 9,205 | 450,585 | |||||
Transportation - 2.6% | |||||||
Allegiant Travel Co. | 3,178 | 282,334 | |||||
ArcBest Corp. | 8,435 | 890,651 | |||||
Copa Holdings SA, Cl. A | 1,961 | 199,434 | |||||
GXO Logistics, Inc. | 4,487 | a | 287,033 | ||||
Marten Transport Ltd. | 65,489 | 1,375,269 | |||||
RXO, Inc. | 12,302 | a | 222,420 | ||||
SkyWest, Inc. | 5,726 | a | 258,243 | ||||
TFI International, Inc. | 4,915 | 670,209 | |||||
XPO, Inc. | 16,129 | a | 1,203,707 | ||||
5,389,300 | |||||||
Utilities - .3% | |||||||
California Water Service Group | 8,120 | 408,030 | |||||
Portland General Electric Co. | 4,254 | 186,580 | |||||
594,610 | |||||||
Total Common Stocks (cost $145,572,931) | 201,142,074 | ||||||
Exchange-Traded Funds - .3% | |||||||
Registered Investment Companies - .3% | |||||||
iShares Russell 2000 Growth ETF | 2,257 | b | 543,192 | ||||
Number of Rights | |||||||
Rights - .0% | |||||||
Pharmaceuticals, Biotechnology & Life Sciences - .0% | |||||||
OmniAb, Inc. - 12.50 Earnout | 4,894 | d | 0 | ||||
OmniAb, Inc. - 15.00 Earnout | 4,894 | d | 0 | ||||
1-Day | |||||||
Investment Companies - 4.1% | |||||||
Registered Investment Companies - 4.1% | |||||||
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares | 5.41 | 8,668,239 | e | 8,668,239 |
Investment of Cash Collateral for Securities Loaned - 1.4% | |||||||
Registered Investment Companies - 1.4% | |||||||
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares | 5.41 | 2,959,325 | e | 2,959,324 | |||
Total Investments (cost $157,756,447) | 101.8% | 213,312,829 | |||||
Liabilities, Less Cash and Receivables | (1.8%) | (3,704,727) | |||||
Net Assets | 100.0% | 209,608,102 |
ADR—American Depositary Receipt
ETF—Exchange-Traded Fund
a Non-income producing security.
b Security, or portion thereof, on loan. At August 31, 2023, the value of the fund’s securities on loan was $7,508,451 and the value of the collateral was $7,640,568, consisting of cash collateral of $2,959,324 and U.S. Government & Agency securities valued at $4,681,244. 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 The fund held Level 3 securities at August 31, 2023. These securities were valued at $0 or .0% of net assets.
e Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company’s prospectus.
STATEMENT OF INVESTMENTS (Unaudited) (continued)
The following is a summary of the inputs used as of August 31, 2023 in valuing the fund’s investments:
Level 1-Unadjusted Quoted Prices | Level 2- Other Significant Observable Inputs | Level 3-Significant Unobservable Inputs | Total | |||
Assets ($) | ||||||
Investments in Securities:† | ||||||
Equity Securities - Common Stocks | 201,142,074 | - | - | 201,142,074 | ||
Exchange-Traded Funds | 543,192 | - | - | 543,192 | ||
Investment Companies | 11,627,563 | - | - | 11,627,563 | ||
Rights | - | - | 0 | 0 |
† 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 Company’s Board of Directors (the “Board”) has designated the Adviser as the fund’s valuation designee to make all fair value determinations with respect to the fund’s portfolio investments, subject to the Board’s oversight and pursuant to Rule 2a-5 under the Act.
Investments in equity securities are valued at the last sales price on the securities exchange or national securities market on which such securities are primarily traded. Securities listed on the National Market System for which market quotations are available are valued at the official closing price or, if there is no official closing price that day, at the last sales price. For open short positions, asked prices are used for valuation purposes. Bid price is used when no asked price is available. Registered investment companies that are not traded on an exchange are valued at their net asset value. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.
Securities not listed on an exchange or the national securities market, or securities for which there were no transactions, are valued at the average of the most recent bid and asked prices. 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, 2023, accumulated net unrealized appreciation on investments was $55,556,382, consisting of $63,509,503 gross unrealized appreciation and $7,953,121 gross unrealized depreciation.
At August 31, 2023, 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.