STATEMENT OF INVESTMENTS
BNY Mellon Smallcap Stock Index Fund
July 31, 2023 (Unaudited)
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% | |||||||
Automobiles & Components - 1.8% | |||||||
American Axle & Manufacturing Holdings, Inc. | 150,296 | a | 1,420,297 | ||||
Dana, Inc. | 164,849 | 3,128,834 | |||||
Dorman Products, Inc. | 36,095 | a | 3,056,886 | ||||
Gentherm, Inc. | 42,146 | a | 2,519,066 | ||||
LCI Industries | 32,239 | b | 4,393,209 | ||||
Patrick Industries, Inc. | 26,864 | 2,325,079 | |||||
Phinia, Inc. | 59,589 | a | 1,690,540 | ||||
Standard Motor Products, Inc. | 24,164 | 922,340 | |||||
Winnebago Industries, Inc. | 38,688 | 2,661,734 | |||||
XPEL, Inc. | 25,269 | a,b | 2,052,601 | ||||
24,170,586 | |||||||
Banks - 9.4% | |||||||
Ameris Bancorp | 83,303 | 3,636,176 | |||||
Atlantic Union Bankshares Corp. | 95,553 | 3,055,785 | |||||
Axos Financial, Inc. | 67,752 | a | 3,184,344 | ||||
Banc of California, Inc. | 70,263 | 998,437 | |||||
BancFirst Corp. | 22,467 | b | 2,244,453 | ||||
Bank of Hawaii Corp. | 50,305 | b | 2,873,925 | ||||
BankUnited, Inc. | 94,414 | 2,817,314 | |||||
Banner Corp. | 44,168 | 2,102,839 | |||||
Berkshire Hills Bancorp, Inc. | 56,429 | 1,287,146 | |||||
Brookline Bancorp, Inc. | 111,110 | 1,186,655 | |||||
Capitol Federal Financial, Inc. | 164,994 | 1,093,910 | |||||
Central Pacific Financial Corp. | 35,168 | 641,464 | |||||
City Holding Co. | 19,323 | 1,911,238 | |||||
Community Bank System, Inc. | 68,706 | 3,698,444 | |||||
Customers Bancorp, Inc. | 37,382 | a | 1,569,296 | ||||
CVB Financial Corp. | 166,504 | 3,141,931 | |||||
Dime Community Bancshares, Inc. | 42,039 | 941,674 | |||||
Eagle Bancorp, Inc. | 38,653 | 1,070,688 | |||||
FB Financial Corp. | 44,722 | 1,584,053 | |||||
First Bancorp | 52,726 | 1,744,176 | |||||
First Bancorp/Puerto Rico | 229,957 | 3,414,861 | |||||
First Commonwealth Financial Corp. | 132,021 | 1,906,383 | |||||
First Financial Bancorp | 121,446 | 2,804,188 | |||||
First Hawaiian, Inc. | 162,058 | 3,352,980 | |||||
Fulton Financial Corp. | 211,056 | 3,018,101 | |||||
Hanmi Financial Corp. | 40,090 | 761,710 | |||||
Heritage Financial Corp. | 44,804 | 840,523 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Banks - 9.4% (continued) | |||||||
Hilltop Holdings, Inc. | 59,222 | 1,831,736 | |||||
Hope Bancorp, Inc. | 151,647 | 1,646,886 | |||||
Independent Bank Corp. | 56,400 | 3,398,100 | |||||
Independent Bank Group, Inc. | 45,655 | 2,048,540 | |||||
Lakeland Financial Corp. | 32,567 | 1,805,515 | |||||
National Bank Holdings Corp., Cl. A | 48,397 | 1,662,921 | |||||
NBT Bancorp, Inc. | 55,049 | 2,047,823 | |||||
Northfield Bancorp, Inc. | 50,934 | 620,376 | |||||
Northwest Bancshares, Inc. | 162,766 | 2,011,788 | |||||
OFG Bancorp | 60,806 | 2,036,393 | |||||
Pacific Premier Bancorp, Inc. | 120,998 | 3,090,289 | |||||
PacWest Bancorp | 150,421 | 1,398,915 | |||||
Park National Corp. | 18,523 | 2,065,685 | |||||
Pathward Financial, Inc. | 34,487 | 1,791,945 | |||||
Preferred Bank | 16,772 | 1,108,294 | |||||
Provident Financial Services, Inc. | 96,924 | 1,796,971 | |||||
Renasant Corp. | 72,325 | 2,237,736 | |||||
S&T Bancorp, Inc. | 49,733 | 1,570,568 | |||||
Seacoast Banking Corp. of Florida | 105,862 | 2,615,850 | |||||
ServisFirst Bancshares, Inc. | 62,406 | 3,724,390 | |||||
Simmons First National Corp., Cl. A | 163,072 | 3,292,424 | |||||
Southside Bancshares, Inc. | 37,225 | 1,236,242 | |||||
Stellar Bancorp, Inc. | 57,914 | b | 1,439,742 | ||||
The Bancorp, Inc. | 69,512 | a | 2,634,505 | ||||
Tompkins Financial Corp. | 16,183 | 973,569 | |||||
Triumph Financial, Inc. | 28,241 | a | 2,002,569 | ||||
TrustCo Bank Corp. | 24,918 | 757,258 | |||||
Trustmark Corp. | 78,531 | 2,062,224 | |||||
United Community Banks, Inc. | 146,606 | 4,261,836 | |||||
Veritex Holdings, Inc. | 69,440 | 1,493,654 | |||||
Washington Federal, Inc. | 83,485 | 2,591,374 | |||||
Westamerica Bancorporation | 34,016 | 1,673,247 | |||||
WSFS Financial Corp. | 78,706 | 3,443,388 | |||||
125,255,447 | |||||||
Capital Goods - 11.6% | |||||||
3D Systems Corp. | 168,513 | a | 1,467,748 | ||||
AAON, Inc. | 54,867 | 5,775,300 | |||||
AAR Corp. | 42,345 | a | 2,532,231 | ||||
AeroVironment, Inc. | 32,272 | a | 3,074,231 | ||||
Alamo Group, Inc. | 13,102 | 2,538,644 | |||||
Albany International Corp., Cl. A | 39,447 | 3,797,957 | |||||
American Woodmark Corp. | 21,358 | a | 1,636,877 | ||||
Apogee Enterprises, Inc. | 28,079 | 1,390,753 | |||||
Applied Industrial Technologies, Inc. | 49,259 | 7,142,062 |
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Capital Goods - 11.6% (continued) | |||||||
Arcosa, Inc. | 61,968 | 4,782,690 | |||||
Astec Industries, Inc. | 29,040 | 1,434,576 | |||||
AZZ, Inc. | 31,597 | 1,400,695 | |||||
Barnes Group, Inc. | 64,589 | 2,538,348 | |||||
Boise Cascade Co. | 50,751 | 5,252,221 | |||||
CIRCOR International, Inc. | 26,073 | a | 1,452,266 | ||||
Comfort Systems USA, Inc. | 45,643 | 7,940,513 | |||||
DXP Enterprises, Inc. | 19,190 | a | 728,836 | ||||
Dycom Industries, Inc. | 37,484 | a | 3,732,657 | ||||
Encore Wire Corp. | 22,910 | 3,910,508 | |||||
Enerpac Tool Group Corp. | 73,662 | 2,024,232 | |||||
EnPro Industries, Inc. | 26,814 | 3,721,247 | |||||
ESCO Technologies, Inc. | 32,971 | 3,315,234 | |||||
Federal Signal Corp. | 77,922 | 4,760,255 | |||||
Franklin Electric Co., Inc. | 49,665 | 4,907,895 | |||||
Gibraltar Industries, Inc. | 38,679 | a | 2,501,371 | ||||
GMS, Inc. | 52,524 | a | 3,870,494 | ||||
Granite Construction, Inc. | 55,607 | b | 2,275,995 | ||||
Griffon Corp. | 61,323 | 2,558,396 | |||||
Hillenbrand, Inc. | 89,015 | 4,623,439 | |||||
Insteel Industries, Inc. | 25,537 | 823,568 | |||||
John Bean Technologies Corp. | 40,531 | 5,010,037 | |||||
Kaman Corp. | 36,600 | 837,774 | |||||
Kennametal, Inc. | 102,653 | 3,128,863 | |||||
Lindsay Corp. | 14,149 | 1,875,167 | |||||
Masterbrand, Inc. | 165,488 | a | 2,043,777 | ||||
Moog, Inc., Cl. A | 36,700 | 3,869,648 | |||||
Mueller Industries, Inc. | 72,744 | 5,896,629 | |||||
MYR Group, Inc. | 21,343 | a | 3,042,658 | ||||
National Presto Industries, Inc. | 6,513 | 510,033 | |||||
NOW, Inc. | 136,927 | a | 1,559,599 | ||||
PGT Innovations, Inc. | 75,699 | a | 2,165,748 | ||||
Powell Industries, Inc. | 11,493 | 698,545 | |||||
Proto Labs, Inc. | 33,321 | a | 1,104,591 | ||||
Quanex Building Products Corp. | 42,233 | 1,188,437 | |||||
Resideo Technologies, Inc. | 188,758 | a | 3,533,550 | ||||
SPX Technologies, Inc. | 58,202 | a | 4,924,471 | ||||
Standex International Corp. | 15,324 | 2,276,687 | |||||
SunPower Corp. | 108,437 | a,b | 1,070,273 | ||||
Tennant Co. | 23,804 | 1,910,033 | |||||
The Greenbrier Companies, Inc. | 41,034 | 1,895,360 | |||||
Titan International, Inc. | 64,246 | a | 802,433 | ||||
Trinity Industries, Inc. | 103,554 | 2,715,186 | |||||
Triumph Group, Inc. | 83,990 | a | 1,062,474 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Capital Goods - 11.6% (continued) | |||||||
Veritiv Corp. | 17,467 | 2,447,651 | |||||
Wabash National Corp. | 60,787 | 1,439,436 | |||||
154,920,299 | |||||||
Commercial & Professional Services - 3.1% | |||||||
ABM Industries, Inc. | 84,074 | 3,890,945 | |||||
Brady Corp., Cl. A | 58,879 | 3,036,979 | |||||
CoreCivic, Inc. | 145,317 | a | 1,409,575 | ||||
CSG Systems International, Inc. | 38,414 | 1,981,778 | |||||
Deluxe Corp. | 55,785 | 1,059,357 | |||||
Enviri Corp. | 103,891 | a | 979,692 | ||||
Forrester Research, Inc. | 15,153 | a | 482,926 | ||||
Healthcare Services Group, Inc. | 94,866 | 1,196,260 | |||||
Heidrick & Struggles International, Inc. | 25,401 | 692,685 | |||||
HNI Corp. | 59,561 | 1,732,630 | |||||
Interface, Inc. | 76,213 | 744,601 | |||||
Kelly Services, Inc., Cl. A | 41,040 | 751,853 | |||||
Korn Ferry | 67,184 | 3,539,253 | |||||
Liquidity Services, Inc. | 29,163 | a | 489,355 | ||||
Matthews International Corp., Cl. A | 39,182 | 1,798,454 | |||||
MillerKnoll, Inc. | 96,807 | 1,894,513 | |||||
NV5 Global, Inc. | 16,137 | a | 1,767,808 | ||||
Openlane, Inc. | 138,324 | a | 2,171,687 | ||||
Pitney Bowes, Inc. | 211,718 | b | 834,169 | ||||
Resources Connection, Inc. | 39,926 | 638,017 | |||||
The GEO Group, Inc. | 163,398 | a,b | 1,220,583 | ||||
TrueBlue, Inc. | 38,742 | a | 579,193 | ||||
TTEC Holdings, Inc. | 24,315 | 837,409 | |||||
UniFirst Corp. | 19,239 | 3,122,490 | |||||
Verra Mobility Corp. | 179,615 | a,b | 3,770,119 | ||||
Viad Corp. | 27,349 | a | 771,515 | ||||
41,393,846 | |||||||
Consumer Discretionary Distribution & Retail - 4.3% | |||||||
Abercrombie & Fitch Co., Cl. A | 64,549 | a | 2,556,786 | ||||
Academy Sports & Outdoors, Inc. | 98,719 | 5,902,409 | |||||
American Eagle Outfitters, Inc. | 233,308 | 3,277,977 | |||||
America's Car-Mart, Inc. | 7,262 | a | 865,049 | ||||
Asbury Automotive Group, Inc. | 27,472 | a | 6,197,683 | ||||
Boot Barn Holdings, Inc. | 38,150 | a | 3,582,285 | ||||
Caleres, Inc. | 46,378 | 1,254,061 | |||||
Chico's FAS, Inc. | 162,290 | a | 989,969 | ||||
Designer Brands, Inc., Cl. A | 63,776 | 634,571 | |||||
Group 1 Automotive, Inc. | 17,990 | 4,650,955 | |||||
Guess?, Inc. | 37,541 | b | 787,986 | ||||
Haverty Furniture Cos., Inc. | 17,357 | 617,909 |
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Consumer Discretionary Distribution & Retail - 4.3% (continued) | |||||||
Hibbett, Inc. | 16,674 | 773,674 | |||||
Leslie's, Inc. | 191,840 | a | 1,222,021 | ||||
MarineMax, Inc. | 28,592 | a | 1,153,115 | ||||
Monro, Inc. | 40,266 | 1,475,749 | |||||
National Vision Holdings, Inc. | 100,854 | a | 2,181,472 | ||||
Sally Beauty Holdings, Inc. | 138,162 | a | 1,653,799 | ||||
Shoe Carnival, Inc. | 21,542 | 573,233 | |||||
Signet Jewelers Ltd. | 58,013 | b | 4,669,466 | ||||
Sleep Number Corp. | 28,311 | a | 783,932 | ||||
Sonic Automotive, Inc., Cl. A | 20,124 | 963,738 | |||||
The Aaron's Company, Inc. | 38,578 | 610,304 | |||||
The Buckle, Inc. | 37,643 | 1,376,228 | |||||
The ODP Corp. | 42,965 | a | 2,143,094 | ||||
Upbound Group, Inc. | 64,589 | 2,236,717 | |||||
Urban Outfitters, Inc. | 76,431 | a | 2,779,795 | ||||
Victoria's Secret & Co. | 100,495 | a | 2,059,143 | ||||
57,973,120 | |||||||
Consumer Durables & Apparel - 4.3% | |||||||
Cavco Industries, Inc. | 10,318 | a | 3,050,517 | ||||
Century Communities, Inc. | 36,654 | 2,830,422 | |||||
Ethan Allen Interiors, Inc. | 29,062 | 914,581 | |||||
G-III Apparel Group Ltd. | 52,097 | a | 1,078,929 | ||||
Green Brick Partners, Inc. | 34,539 | a | 1,952,144 | ||||
Hanesbrands, Inc. | 443,418 | 2,336,813 | |||||
Installed Building Products, Inc. | 29,697 | 4,395,750 | |||||
iRobot Corp. | 34,931 | a | 1,397,240 | ||||
Kontoor Brands, Inc. | 63,749 | 2,700,408 | |||||
La-Z-Boy, Inc. | 55,292 | 1,734,510 | |||||
LGI Homes, Inc. | 26,294 | a,b | 3,648,293 | ||||
M.D.C. Holdings, Inc. | 74,620 | 3,826,514 | |||||
M/I Homes, Inc. | 35,710 | a | 3,571,000 | ||||
Meritage Homes Corp. | 46,867 | 6,980,840 | |||||
Movado Group, Inc. | 19,970 | 573,139 | |||||
Oxford Industries, Inc. | 19,048 | 2,054,327 | |||||
Sonos, Inc. | 163,460 | a | 2,801,704 | ||||
Steven Madden Ltd. | 91,265 | 3,046,426 | |||||
Sturm Ruger & Co., Inc. | 22,250 | 1,178,138 | |||||
Tri Pointe Homes, Inc. | 127,264 | a | 4,057,176 | ||||
Vista Outdoor, Inc. | 73,273 | a | 2,220,172 | ||||
Wolverine World Wide, Inc. | 101,702 | 1,288,564 | |||||
57,637,607 | |||||||
Consumer Services - 3.1% | |||||||
Adtalem Global Education, Inc. | 55,205 | a | 2,387,064 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Consumer Services - 3.1% (continued) | |||||||
BJ's Restaurants, Inc. | 29,760 | a | 1,120,762 | ||||
Bloomin' Brands, Inc. | 111,652 | 3,000,089 | |||||
Brinker International, Inc. | 56,865 | a,b | 2,233,657 | ||||
Chuy's Holdings, Inc. | 22,883 | a | 951,704 | ||||
Cracker Barrel Old Country Store, Inc. | 28,249 | 2,632,807 | |||||
Dave & Buster's Entertainment, Inc. | 51,637 | a | 2,364,975 | ||||
Dine Brands Global, Inc. | 19,813 | b | 1,195,120 | ||||
Frontdoor, Inc. | 104,869 | a | 3,662,026 | ||||
Golden Entertainment, Inc. | 28,010 | a | 1,185,943 | ||||
Jack in the Box, Inc. | 26,203 | 2,604,840 | |||||
Mister Car Wash, Inc. | 101,521 | a,b | 1,008,104 | ||||
Monarch Casino & Resort, Inc. | 17,416 | 1,207,277 | |||||
Perdoceo Education Corp. | 87,773 | a | 1,171,770 | ||||
Sabre Corp. | 424,888 | a,b | 1,742,041 | ||||
Shake Shack, Inc., Cl. A | 48,031 | a | 3,730,087 | ||||
Six Flags Entertainment Corp. | 94,557 | a | 2,259,912 | ||||
Strategic Education, Inc. | 28,874 | 2,168,437 | |||||
Stride, Inc. | 52,460 | a | 2,004,497 | ||||
The Cheesecake Factory, Inc. | 60,477 | b | 2,224,344 | ||||
40,855,456 | |||||||
Consumer Staples Distribution - .7% | |||||||
PriceSmart, Inc. | 31,977 | 2,485,572 | |||||
SpartanNash Co. | 44,539 | 999,455 | |||||
The Andersons, Inc. | 40,481 | 1,976,282 | |||||
The Chefs' Warehouse, Inc. | 45,313 | a | 1,646,674 | ||||
United Natural Foods, Inc. | 76,075 | a | 1,582,360 | ||||
8,690,343 | |||||||
Energy - 5.1% | |||||||
Archrock, Inc. | 173,318 | 2,020,888 | |||||
Bristow Group, Inc. | 30,071 | a | 925,285 | ||||
California Resources Corp. | 90,542 | 4,830,416 | |||||
Callon Petroleum Co. | 66,079 | a | 2,481,927 | ||||
Civitas Resources, Inc. | 62,956 | 4,712,886 | |||||
Comstock Resources, Inc. | 115,035 | b | 1,466,696 | ||||
CONSOL Energy, Inc. | 40,904 | b | 3,048,166 | ||||
Core Laboratories, Inc. | 59,387 | 1,543,468 | |||||
CVR Energy, Inc. | 37,803 | b | 1,388,882 | ||||
Dorian LPG Ltd. | 40,323 | 1,199,206 | |||||
Dril-Quip, Inc. | 43,330 | a | 1,121,814 | ||||
Green Plains, Inc. | 75,821 | a,b | 2,692,404 | ||||
Helix Energy Solutions Group, Inc. | 181,618 | a | 1,743,533 | ||||
Helmerich & Payne, Inc. | 131,849 | 5,902,880 | |||||
Nabors Industries Ltd. | 11,729 | a | 1,436,685 | ||||
Nextier Oilfield Solutions, Inc. | 192,564 | a | 2,295,363 |
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Energy - 5.1% (continued) | |||||||
Northern Oil & Gas, Inc. | 103,402 | 4,070,937 | |||||
Oceaneering International, Inc. | 128,379 | a | 2,882,109 | ||||
Oil States International, Inc. | 80,889 | a | 650,348 | ||||
Par Pacific Holdings, Inc. | 71,926 | a | 2,264,231 | ||||
Patterson-UTI Energy, Inc. | 265,361 | 4,203,318 | |||||
ProPetro Holding Corp. | 122,833 | a | 1,282,377 | ||||
REX American Resources Corp. | 19,113 | a | 707,563 | ||||
RPC, Inc. | 103,889 | 864,356 | |||||
SM Energy Co. | 154,633 | 5,611,632 | |||||
Talos Energy, Inc. | 137,249 | a | 2,195,984 | ||||
U.S. Silica Holdings, Inc. | 97,989 | a | 1,274,837 | ||||
Vital Energy, Inc. | 23,226 | a,b | 1,225,868 | ||||
World Kinect Corp. | 79,664 | 1,795,627 | |||||
67,839,686 | |||||||
Equity Real Estate Investment - 6.8% | |||||||
Acadia Realty Trust | 121,647 | c | 1,911,074 | ||||
Alexander & Baldwin, Inc. | 93,062 | c | 1,786,790 | ||||
American Assets Trust, Inc. | 66,804 | c | 1,503,090 | ||||
Armada Hoffler Properties, Inc. | 85,920 | c | 1,067,126 | ||||
Brandywine Realty Trust | 221,509 | c | 1,118,620 | ||||
CareTrust REIT, Inc. | 125,961 | b,c | 2,618,729 | ||||
Centerspace | 19,120 | c | 1,187,926 | ||||
Chatham Lodging Trust | 63,640 | c | 610,944 | ||||
Community Healthcare Trust, Inc. | 30,618 | c | 1,078,978 | ||||
DiamondRock Hospitality Co. | 265,331 | c | 2,255,314 | ||||
Douglas Emmett, Inc. | 217,579 | c | 3,198,411 | ||||
Easterly Government Properties, Inc. | 118,555 | c | 1,749,872 | ||||
Elme Communities | 112,572 | c | 1,829,295 | ||||
Essential Properties Realty Trust, Inc. | 189,183 | c | 4,644,443 | ||||
Four Corners Property Trust, Inc. | 109,891 | c | 2,890,133 | ||||
Getty Realty Corp. | 57,035 | c | 1,843,371 | ||||
Global Net Lease, Inc. | 133,248 | c | 1,424,421 | ||||
Hudson Pacific Properties, Inc. | 164,697 | c | 966,771 | ||||
Innovative Industrial Properties, Inc. | 35,684 | c | 2,827,243 | ||||
JBG SMITH Properties | 122,757 | b,c | 2,053,725 | ||||
LTC Properties, Inc. | 53,135 | c | 1,783,211 | ||||
LXP Industrial Trust | 375,088 | c | 3,777,136 | ||||
NexPoint Residential Trust, Inc. | 29,324 | c | 1,218,705 | ||||
Office Properties Income Trust | 61,715 | b,c | 475,206 | ||||
Orion Office REIT, Inc. | 70,054 | b,c | 455,351 | ||||
Outfront Media, Inc. | 188,012 | c | 2,906,666 | ||||
Pebblebrook Hotel Trust | 155,985 | c | 2,409,968 | ||||
Phillips Edison & Co., Inc. | 150,160 | b,c | 5,302,150 | ||||
Retail Opportunity Investments Corp. | 161,322 | c | 2,376,273 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Equity Real Estate Investment - 6.8% (continued) | |||||||
RPT Realty | 112,120 | c | 1,218,744 | ||||
Safehold, Inc. | 51,434 | c | 1,271,963 | ||||
Saul Centers, Inc. | 16,021 | c | 617,610 | ||||
Service Properties Trust | 212,960 | c | 1,808,030 | ||||
SITE Centers Corp. | 230,803 | c | 3,242,782 | ||||
SL Green Realty Corp. | 81,934 | c | 3,089,731 | ||||
Summit Hotel Properties, Inc. | 138,963 | c | 894,922 | ||||
Sunstone Hotel Investors, Inc. | 264,523 | c | 2,695,489 | ||||
Tanger Factory Outlet Centers, Inc. | 134,560 | c | 3,150,050 | ||||
The Macerich Company | 275,909 | b,c | 3,517,840 | ||||
Uniti Group, Inc. | 305,914 | c | 1,707,000 | ||||
Universal Health Realty Income Trust | 16,627 | c | 793,607 | ||||
Urban Edge Properties | 148,699 | c | 2,529,370 | ||||
Urstadt Biddle Properties, Inc., Cl. A | 36,912 | c | 837,164 | ||||
Veris Residential, Inc. | 102,342 | c | 1,911,749 | ||||
Whitestone REIT | 61,217 | c | 631,759 | ||||
Xenia Hotels & Resorts, Inc. | 140,972 | c | 1,790,344 | ||||
90,979,096 | |||||||
Financial Services - 5.7% | |||||||
Apollo Commercial Real Estate Finance, Inc. | 164,382 | b,c | 1,939,708 | ||||
Arbor Realty Trust, Inc. | 232,580 | b,c | 3,932,928 | ||||
ARMOUR Residential REIT, Inc. | 245,754 | b,c | 1,255,803 | ||||
Artisan Partners Asset Management Inc., Cl. A | 87,832 | 3,644,150 | |||||
Avantax, Inc. | 49,008 | a,b | 1,268,327 | ||||
B. Riley Financial, Inc. | 19,915 | b | 1,105,880 | ||||
Bread Financial Holdings, Inc. | 63,571 | 2,642,646 | |||||
Brightsphere Investment Group, Inc. | 41,005 | 872,586 | |||||
Donnelley Financial Solutions, Inc. | 32,326 | a | 1,529,020 | ||||
Ellington Financial, Inc. | 79,715 | c | 1,077,747 | ||||
Encore Capital Group, Inc. | 30,107 | a | 1,610,725 | ||||
Enova International, Inc. | 39,591 | a | 2,181,068 | ||||
EVERTEC, Inc. | 83,318 | 3,276,897 | |||||
EZCORP, Inc., Cl. A | 68,969 | a | 624,859 | ||||
Franklin BSP Realty Trust, Inc. | 105,622 | c | 1,510,395 | ||||
Green Dot Corp., Cl. A | 58,924 | a | 1,151,964 | ||||
Invesco Mortgage Capital, Inc. | 54,480 | b,c | 654,305 | ||||
KKR Real Estate Finance Trust, Inc. | 73,116 | c | 911,025 | ||||
Moelis & Co., Cl. A | 84,880 | b | 4,144,690 | ||||
Mr. Cooper Group, Inc. | 86,996 | a | 5,043,158 | ||||
Navient Corp. | 126,371 | 2,406,104 | |||||
New York Mortgage Trust, Inc. | 116,240 | b,c | 1,179,836 | ||||
NMI Holdings, Inc., Cl. A | 106,321 | a | 2,839,834 |
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Financial Services - 5.7% (continued) | |||||||
Payoneer Global, Inc. | 263,945 | a | 1,404,187 | ||||
PennyMac Mortgage Investment Trust | 112,266 | b,c | 1,434,760 | ||||
Piper Sandler Cos. | 18,727 | 2,740,884 | |||||
PRA Group, Inc. | 49,767 | a | 1,187,441 | ||||
PROG Holdings, Inc. | 60,240 | a | 2,444,539 | ||||
Radian Group, Inc. | 199,740 | 5,378,998 | |||||
Ready Capital Corp. | 207,138 | c | 2,396,587 | ||||
Redwood Trust, Inc. | 147,241 | c | 1,108,725 | ||||
StoneX Group, Inc. | 22,732 | a | 2,091,571 | ||||
Two Harbors Investment Corp. | 124,581 | b,c | 1,670,631 | ||||
Virtus Investment Partners, Inc. | 8,655 | 1,780,593 | |||||
Walker & Dunlop, Inc. | 39,512 | 3,594,802 | |||||
WisdomTree, Inc. | 143,561 | 999,185 | |||||
World Acceptance Corp. | 4,350 | a,b | 686,822 | ||||
75,723,380 | |||||||
Food, Beverage & Tobacco - 2.3% | |||||||
B&G Foods, Inc. | 92,184 | b | 1,222,360 | ||||
Calavo Growers, Inc. | 22,694 | 856,245 | |||||
Cal-Maine Foods, Inc. | 48,990 | 2,262,848 | |||||
Fresh Del Monte Produce, Inc. | 39,951 | 1,061,898 | |||||
Hostess Brands, Inc. | 169,705 | a | 4,079,708 | ||||
J&J Snack Foods Corp. | 19,241 | 3,084,717 | |||||
John B. Sanfilippo & Son, Inc. | 11,428 | 1,244,623 | |||||
MGP Ingredients, Inc. | 19,855 | 2,263,669 | |||||
National Beverage Corp. | 29,879 | a | 1,579,105 | ||||
The Hain Celestial Group, Inc. | 113,374 | a | 1,436,449 | ||||
The Simply Good Foods Company | 107,655 | a | 4,167,325 | ||||
Tootsie Roll Industries, Inc. | 22,559 | 786,407 | |||||
TreeHouse Foods, Inc. | 65,041 | a | 3,356,766 | ||||
Universal Corp. | 31,504 | 1,593,157 | |||||
Vector Group Ltd. | 171,113 | 2,245,003 | |||||
31,240,280 | |||||||
Health Care Equipment & Services - 6.7% | |||||||
AdaptHealth Corp. | 97,141 | a | 1,334,717 | ||||
Addus HomeCare Corp. | 20,863 | a | 1,910,425 | ||||
Agiliti, Inc. | 43,665 | a,b | 749,728 | ||||
AMN Healthcare Services, Inc. | 50,777 | a | 5,440,756 | ||||
AngioDynamics, Inc. | 50,954 | a | 442,790 | ||||
Apollo Medical Holdings, Inc. | 51,650 | a,b | 1,891,940 | ||||
Artivion, Inc. | 53,526 | a | 932,423 | ||||
Avanos Medical, Inc. | 59,191 | a | 1,448,404 | ||||
Certara, Inc. | 136,322 | a | 2,654,189 | ||||
Community Health Systems, Inc. | 164,275 | a | 721,167 | ||||
Computer Programs & Systems, Inc. | 18,260 | a | 478,777 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Health Care Equipment & Services - 6.7% (continued) | |||||||
CONMED Corp. | 38,923 | 4,711,629 | |||||
CorVel Corp. | 11,573 | a | 2,367,373 | ||||
Cross Country Healthcare, Inc. | 43,412 | a | 1,120,030 | ||||
Embecta Corp. | 73,443 | 1,567,274 | |||||
Enhabit, Inc. | 65,503 | a | 899,356 | ||||
Fulgent Genetics, Inc. | 25,171 | a | 977,390 | ||||
Glaukos Corp. | 61,478 | a | 4,742,413 | ||||
HealthStream, Inc. | 30,272 | 680,515 | |||||
Integer Holdings Corp. | 42,271 | a | 3,909,222 | ||||
LeMaitre Vascular, Inc. | 25,045 | 1,583,595 | |||||
Merit Medical Systems, Inc. | 73,201 | a | 5,465,919 | ||||
ModivCare, Inc. | 16,589 | a | 725,603 | ||||
NeoGenomics, Inc. | 162,684 | a | 2,819,314 | ||||
NextGen Healthcare, Inc. | 67,757 | a | 1,126,799 | ||||
NuVasive, Inc. | 66,977 | a | 2,760,122 | ||||
OraSure Technologies, Inc. | 93,096 | a | 439,413 | ||||
Orthofix Medical, Inc. | 45,198 | a | 889,949 | ||||
Owens & Minor, Inc. | 98,146 | a | 1,888,329 | ||||
Pediatrix Medical Group, Inc. | 105,849 | a | 1,453,307 | ||||
Privia Health Group, Inc. | 119,949 | a | 3,348,976 | ||||
RadNet, Inc. | 73,351 | a | 2,426,451 | ||||
Schrodinger, Inc. | 68,555 | a,b | 3,586,112 | ||||
Select Medical Holdings Corp. | 133,047 | 3,992,740 | |||||
Simulations Plus, Inc. | 20,091 | b | 1,000,532 | ||||
Tandem Diabetes Care, Inc. | 83,389 | a | 2,911,944 | ||||
The Ensign Group, Inc. | 71,184 | 6,895,594 | |||||
U.S. Physical Therapy, Inc. | 18,692 | 2,173,319 | |||||
UFP Technologies, Inc. | 8,802 | a | 1,713,441 | ||||
Varex Imaging Corp. | 52,772 | a | 1,229,060 | ||||
Veradigm, Inc. | 139,993 | a | 1,892,705 | ||||
Zynex, Inc. | 28,920 | a,b | 282,259 | ||||
89,586,001 | |||||||
Household & Personal Products - 1.8% | |||||||
Central Garden & Pet Co. | 12,508 | a | 506,324 | ||||
Central Garden & Pet Co., Cl. A | 52,356 | a | 2,001,046 | ||||
e.l.f. Beauty, Inc. | 64,625 | a | 7,543,030 | ||||
Edgewell Personal Care Co. | 64,923 | 2,558,615 | |||||
Inter Parfums, Inc. | 22,966 | 3,434,795 | |||||
Medifast, Inc. | 13,885 | 1,414,743 | |||||
Nu Skin Enterprises, Inc., Cl. A | 64,291 | 1,889,513 | |||||
USANA Health Sciences, Inc. | 14,005 | a | 909,065 | ||||
WD-40 Co. | 17,430 | 4,000,185 | |||||
24,257,316 |
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Insurance - 2.2% | |||||||
Ambac Financial Group, Inc. | 57,407 | a | 811,735 | ||||
American Equity Investment Life Holding Co. | 81,217 | 4,358,916 | |||||
AMERISAFE, Inc. | 24,464 | 1,275,064 | |||||
Assured Guaranty Ltd. | 75,382 | 4,506,336 | |||||
Employers Holdings, Inc. | 34,316 | 1,325,627 | |||||
Genworth Financial, Inc., Cl. A | 609,749 | a | 3,573,129 | ||||
HCI Group, Inc. | 9,001 | b | 565,353 | ||||
Horace Mann Educators Corp. | 52,442 | 1,580,077 | |||||
James River Group Holdings Ltd. | 48,762 | 901,609 | |||||
Mercury General Corp. | 33,780 | 1,087,040 | |||||
Palomar Holdings, Inc. | 32,029 | a | 1,939,676 | ||||
ProAssurance Corp. | 69,551 | 1,168,457 | |||||
Safety Insurance Group, Inc. | 19,012 | 1,368,864 | |||||
SiriusPoint Ltd. | 110,810 | a | 1,034,965 | ||||
Stewart Information Services Corp. | 34,926 | 1,646,062 | |||||
Trupanion, Inc. | 44,951 | a,b | 1,386,738 | ||||
United Fire Group, Inc. | 27,456 | 660,042 | |||||
Universal Insurance Holdings, Inc. | 36,016 | 559,328 | |||||
29,749,018 | |||||||
Materials - 5.6% | |||||||
AdvanSix, Inc. | 35,060 | 1,406,257 | |||||
American Vanguard Corp. | 36,262 | 654,892 | |||||
Arconic Corp. | 128,624 | a | 3,844,571 | ||||
ATI, Inc. | 163,939 | a | 7,816,612 | ||||
Balchem Corp. | 41,049 | 5,530,942 | |||||
Carpenter Technology Corp. | 62,244 | 3,725,926 | |||||
Century Aluminum Co. | 63,897 | a | 594,242 | ||||
Clearwater Paper Corp. | 21,425 | a | 690,528 | ||||
Compass Minerals International, Inc. | 43,706 | 1,655,146 | |||||
FutureFuel Corp. | 32,146 | 312,459 | |||||
H.B. Fuller Co. | 68,766 | 5,090,747 | |||||
Hawkins, Inc. | 24,858 | 1,162,112 | |||||
Haynes International, Inc. | 16,296 | 817,407 | |||||
Ingevity Corp. | 43,872 | a | 2,808,685 | ||||
Innospec, Inc. | 31,840 | 3,411,338 | |||||
Kaiser Aluminum Corp. | 20,472 | 1,662,326 | |||||
Koppers Holdings, Inc. | 27,132 | 1,038,070 | |||||
Livent Corp. | 230,356 | a,b | 5,671,365 | ||||
Materion Corp. | 26,369 | 3,141,603 | |||||
Mativ Holdings, Inc. | 69,624 | 1,095,882 | |||||
Mercer International, Inc. | 50,010 | 445,089 | |||||
Minerals Technologies, Inc. | 41,067 | 2,519,460 | |||||
Myers Industries, Inc. | 47,219 | 925,965 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Materials - 5.6% (continued) | |||||||
O-I Glass, Inc. | 197,971 | a | 4,545,414 | ||||
Olympic Steel, Inc. | 12,642 | 705,297 | |||||
Quaker Chemical Corp. | 17,534 | b | 3,513,463 | ||||
Stepan Co. | 27,021 | 2,589,152 | |||||
SunCoke Energy, Inc. | 103,815 | 921,877 | |||||
Sylvamo Corp. | 40,940 | 2,008,926 | |||||
TimkenSteel Corp. | 49,408 | a | 1,151,206 | ||||
Trinseo PLC | 44,355 | b | 781,535 | ||||
Warrior Met Coal, Inc. | 66,378 | 2,937,227 | |||||
75,175,721 | |||||||
Media & Entertainment - 2.0% | |||||||
AMC Networks, Inc., Cl. A | 35,254 | a | 444,905 | ||||
CarGurus, Inc. | 115,129 | a | 2,608,823 | ||||
Cars.com, Inc. | 79,529 | a | 1,814,057 | ||||
Cinemark Holdings, Inc. | 139,476 | a | 2,327,854 | ||||
DISH Network Corp., Cl. A | 323,668 | a | 2,566,687 | ||||
John Wiley & Sons, Inc., Cl. A | 54,110 | 1,852,185 | |||||
Madison Square Garden Sports Corp. | 22,695 | a | 4,828,361 | ||||
QuinStreet, Inc. | 65,801 | a | 584,313 | ||||
Scholastic Corp. | 37,242 | 1,608,482 | |||||
Shutterstock, Inc. | 30,945 | b | 1,592,120 | ||||
TechTarget, Inc. | 32,822 | a | 1,066,059 | ||||
The E.W. Scripps Company, Cl. A | 71,284 | a | 702,860 | ||||
The Marcus Corp. | 29,492 | 460,075 | |||||
Thryv Holdings, Inc. | 40,436 | a | 958,333 | ||||
Yelp, Inc. | 87,609 | a | 3,946,785 | ||||
27,361,899 | |||||||
Pharmaceuticals, Biotechnology & Life Sciences - 3.8% | |||||||
Amphastar Pharmaceuticals, Inc. | 48,094 | a | 2,918,825 | ||||
ANI Pharmaceuticals, Inc. | 18,158 | a | 954,203 | ||||
Anika Therapeutics, Inc. | 19,008 | a | 443,457 | ||||
Arcus Biosciences, Inc. | 67,166 | a | 1,336,603 | ||||
Avid Bioservices, Inc. | 79,461 | a,b | 1,005,976 | ||||
BioLife Solutions, Inc. | 44,321 | a,b | 881,101 | ||||
Catalyst Pharmaceuticals, Inc. | 125,299 | a | 1,732,885 | ||||
Coherus Biosciences, Inc. | 89,063 | a,b | 429,284 | ||||
Collegium Pharmaceutical, Inc. | 45,286 | a | 1,030,709 | ||||
Corcept Therapeutics, Inc. | 115,353 | a | 2,939,194 | ||||
Cytek Biosciences, Inc. | 100,741 | a,b | 902,639 | ||||
Cytokinetics, Inc. | 121,856 | a | 4,063,898 | ||||
Dynavax Technologies Corp. | 151,213 | a | 2,115,470 | ||||
Emergent BioSolutions, Inc. | 57,095 | a | 392,814 | ||||
Enanta Pharmaceuticals, Inc. | 24,682 | a | 468,218 | ||||
Fortrea Holdings, Inc. | 113,346 | a | 3,622,538 |
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Pharmaceuticals, Biotechnology & Life Sciences - 3.8% (continued) | |||||||
Harmony Biosciences Holdings, Inc. | 38,201 | a | 1,351,169 | ||||
Innoviva, Inc. | 74,518 | a | 1,009,719 | ||||
Ironwood Pharmaceuticals, Inc. | 173,738 | a | 1,926,754 | ||||
iTeos Therapeutics, Inc. | 32,616 | a | 458,581 | ||||
Ligand Pharmaceuticals, Inc. | 20,926 | a | 1,400,577 | ||||
Mesa Laboratories, Inc. | 6,534 | b | 840,664 | ||||
Myriad Genetics, Inc. | 103,726 | a | 2,318,276 | ||||
Pacira Biosciences, Inc. | 58,526 | a | 2,127,420 | ||||
Phibro Animal Health Corp., Cl. A | 25,678 | 371,817 | |||||
Prestige Consumer Healthcare, Inc. | 63,759 | a | 4,157,724 | ||||
REGENXBIO, Inc. | 48,863 | a | 928,397 | ||||
Supernus Pharmaceuticals, Inc. | 69,851 | a | 2,143,727 | ||||
uniQure NV | 55,025 | a | 570,609 | ||||
Vanda Pharmaceuticals, Inc. | 72,787 | a | 420,709 | ||||
Vericel Corp. | 60,364 | a | 2,168,275 | ||||
Vir Biotechnology, Inc. | 98,366 | a | 1,384,993 | ||||
Xencor, Inc. | 76,284 | a | 1,852,938 | ||||
50,670,163 | |||||||
Real Estate Management & Development - .9% | |||||||
Anywhere Real Estate, Inc. | 138,734 | a | 1,162,591 | ||||
Cushman & Wakefield PLC | 209,768 | a,b | 2,062,019 | ||||
eXp World Holdings, Inc. | 94,784 | b | 2,363,913 | ||||
Kennedy-Wilson Holdings, Inc. | 152,791 | 2,521,052 | |||||
Marcus & Millichap, Inc. | 30,678 | 1,125,269 | |||||
RE/MAX Holdings, Inc., Cl. A | 24,056 | 474,144 | |||||
The St. Joe Company | 43,617 | b | 2,768,807 | ||||
12,477,795 | |||||||
Semiconductors & Semiconductor Equipment - 4.6% | |||||||
Alpha & Omega Semiconductor Ltd. | 28,472 | a | 936,159 | ||||
Axcelis Technologies, Inc. | 41,748 | a | 8,369,639 | ||||
CEVA, Inc. | 30,556 | a | 829,901 | ||||
Cohu, Inc. | 60,997 | a | 2,662,519 | ||||
Diodes, Inc. | 58,544 | a | 5,531,823 | ||||
FormFactor, Inc. | 98,540 | a | 3,661,746 | ||||
Ichor Holdings Ltd. | 37,023 | a | 1,433,531 | ||||
Kulicke & Soffa Industries, Inc. | 71,849 | 4,302,318 | |||||
MaxLinear, Inc. | 94,103 | a | 2,321,521 | ||||
Onto Innovation, Inc. | 62,413 | a | 7,759,184 | ||||
PDF Solutions, Inc. | 38,359 | a | 1,764,130 | ||||
Photronics, Inc. | 80,502 | a | 2,129,278 | ||||
Rambus, Inc. | 139,015 | a | 8,703,729 | ||||
Semtech Corp. | 82,424 | a | 2,406,781 | ||||
SiTime Corp. | 21,221 | a | 2,737,721 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Semiconductors & Semiconductor Equipment - 4.6% (continued) | |||||||
SMART Global Holdings, Inc. | 63,032 | a | 1,676,651 | ||||
Ultra Clean Holdings, Inc. | 56,740 | a | 2,161,794 | ||||
Veeco Instruments, Inc. | 66,268 | a | 1,866,107 | ||||
61,254,532 | |||||||
Software & Services - 3.0% | |||||||
8x8, Inc. | 140,906 | a | 667,894 | ||||
A10 Networks, Inc. | 81,150 | 1,259,448 | |||||
Adeia, Inc. | 135,491 | 1,628,602 | |||||
Agilysys, Inc. | 25,585 | a | 1,883,824 | ||||
Alarm.com Holdings, Inc. | 63,814 | a | 3,523,171 | ||||
Cerence, Inc. | 51,911 | a | 1,443,645 | ||||
Consensus Cloud Solutions, Inc. | 22,479 | a | 728,544 | ||||
Digital Turbine, Inc. | 114,785 | a | 1,244,269 | ||||
DoubleVerify Holdings, Inc. | 112,328 | a | 4,729,009 | ||||
Ebix, Inc. | 30,092 | b | 931,648 | ||||
InterDigital, Inc. | 34,146 | 3,164,993 | |||||
Liveramp Holdings, Inc. | 82,235 | a | 2,346,987 | ||||
N-Able, Inc. | 87,859 | a | 1,236,176 | ||||
OneSpan, Inc. | 45,845 | a | 629,910 | ||||
Perficient, Inc. | 44,743 | a | 2,854,156 | ||||
Progress Software Corp. | 55,439 | 3,329,666 | |||||
SPS Commerce, Inc. | 46,603 | a | 8,406,715 | ||||
Xperi, Inc. | 55,925 | a | 733,736 | ||||
40,742,393 | |||||||
Technology Hardware & Equipment - 5.8% | |||||||
ADTRAN Holdings, Inc. | 91,125 | 886,646 | |||||
Advanced Energy Industries, Inc. | 48,056 | 6,015,650 | |||||
Arlo Technologies, Inc. | 118,559 | a | 1,346,830 | ||||
Avid Technology, Inc. | 42,332 | a | 1,009,195 | ||||
Badger Meter, Inc. | 37,538 | 6,180,256 | |||||
Benchmark Electronics, Inc. | 45,379 | 1,202,997 | |||||
Clearfield, Inc. | 15,808 | a,b | 738,866 | ||||
Corsair Gaming, Inc. | 51,483 | a | 951,406 | ||||
CTS Corp. | 40,548 | 1,809,657 | |||||
Digi International, Inc. | 46,082 | a | 1,932,218 | ||||
ePlus, Inc. | 34,672 | a | 1,953,767 | ||||
Extreme Networks, Inc. | 164,478 | a | 4,373,470 | ||||
Fabrinet | 46,510 | a | 5,750,496 | ||||
Harmonic, Inc. | 141,616 | a | 2,112,911 | ||||
Insight Enterprises, Inc. | 37,043 | a | 5,433,838 | ||||
Itron, Inc. | 57,922 | a | 4,556,724 | ||||
Knowles Corp. | 115,584 | a | 2,111,720 | ||||
Methode Electronics, Inc. | 46,066 | 1,549,660 |
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Technology Hardware & Equipment - 5.8% (continued) | |||||||
NETGEAR, Inc. | 37,619 | a | 513,123 | ||||
NETSCOUT Systems, Inc. | 85,991 | a | 2,403,448 | ||||
OSI Systems, Inc. | 19,744 | a | 2,354,077 | ||||
PC Connection, Inc. | 14,687 | 710,998 | |||||
Plexus Corp. | 35,096 | a | 3,456,605 | ||||
Rogers Corp. | 23,859 | a | 4,022,866 | ||||
Sanmina Corp. | 74,371 | a | 4,570,842 | ||||
ScanSource, Inc. | 31,536 | a | 948,918 | ||||
TTM Technologies, Inc. | 131,996 | a | 1,895,463 | ||||
Viasat, Inc. | 98,318 | a,b | 3,041,959 | ||||
Viavi Solutions, Inc. | 284,924 | a | 3,097,124 | ||||
76,931,730 | |||||||
Telecommunication Services - .7% | |||||||
ATN International, Inc. | 13,877 | 504,290 | |||||
Cogent Communications Holdings, Inc. | 55,097 | 3,374,140 | |||||
Consolidated Communications Holdings, Inc. | 90,871 | a | 325,318 | ||||
Gogo, Inc. | 83,164 | a | 1,253,282 | ||||
Lumen Technologies, Inc. | 1,191,204 | 2,132,255 | |||||
Shenandoah Telecommunications Co. | 64,255 | 1,199,641 | |||||
Telephone and Data Systems, Inc. | 129,118 | 1,035,526 | |||||
9,824,452 | |||||||
Transportation - 2.1% | |||||||
Allegiant Travel Co. | 19,959 | a | 2,468,928 | ||||
ArcBest Corp. | 30,493 | 3,546,946 | |||||
Forward Air Corp. | 32,990 | 3,920,532 | |||||
Hawaiian Holdings, Inc. | 67,263 | a,b | 779,578 | ||||
Heartland Express, Inc. | 61,002 | 997,383 | |||||
Hub Group, Inc., Cl. A | 42,017 | a | 3,786,992 | ||||
Marten Transport Ltd. | 73,684 | 1,669,679 | |||||
Matson, Inc. | 45,875 | 4,287,478 | |||||
RXO, Inc. | 150,020 | a,b | 3,307,941 | ||||
SkyWest, Inc. | 56,500 | a | 2,485,435 | ||||
Sun Country Airlines Holdings, Inc. | 46,045 | a | 992,730 | ||||
28,243,622 | |||||||
Utilities - 1.9% | |||||||
American States Water Co. | 47,134 | 4,167,117 | |||||
Avista Corp. | 96,981 | 3,747,346 | |||||
California Water Service Group | 71,182 | 3,774,070 | |||||
Chesapeake Utilities Corp. | 22,657 | 2,678,964 | |||||
Middlesex Water Co. | 22,686 | 1,824,408 | |||||
Northwest Natural Holding Co. | 46,164 | 1,983,667 | |||||
Otter Tail Corp. | 53,254 | b | 4,314,107 | ||||
SJW Group | 35,599 | 2,508,306 |
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Shares | Value ($) | |||||
Common Stocks - 99.3% (continued) | |||||||
Utilities - 1.9% (continued) | |||||||
Unitil Corp. | 20,307 | 1,056,776 | |||||
26,054,761 | |||||||
Total Common Stocks (cost $880,627,423) | 1,329,008,549 | ||||||
Exchange-Traded Funds - .2% | |||||||
Registered Investment Companies - .2% | |||||||
iShares Core S&P Small-Cap ETF | 24,662 | 2,593,456 | |||||
Number of Rights | |||||||
Rights - .0% | |||||||
Pharmaceuticals, Biotechnology & Life Sciences - .0% | |||||||
OmniAb, Inc. - 12.50 Earnout | 9,476 | d | 0 | ||||
OmniAb, Inc. - 15.00 Earnout | 9,476 | d | 0 | ||||
1-Day | |||||||
Investment Companies - .4% | |||||||
Registered Investment Companies - .4% | |||||||
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares | 5.38 | 5,486,818 | e | 5,486,818 | |||
Investment of Cash Collateral for Securities Loaned - 1.6% | |||||||
Registered Investment Companies - 1.6% | |||||||
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares | 5.38 | 21,157,564 | e | 21,157,564 | |||
Total Investments (cost $909,702,411) | 101.5% | 1,358,246,387 | |||||
Liabilities, Less Cash and Receivables | (1.5%) | (20,165,920) | |||||
Net Assets | 100.0% | 1,338,080,467 |
ETF—Exchange-Traded Fund
REIT—Real Estate Investment Trust
a Non-income producing security.
b Security, or portion thereof, on loan. At July 31, 2023, the value of the fund’s securities on loan was $79,378,722 and the value of the collateral was $80,237,804, consisting of cash collateral of $21,157,564 and U.S. Government & Agency securities valued at $59,080,240. 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 July 31, 2023. These securities were valued at $0 or .0% of net assets.
e Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company’s prospectus.
Futures |
Description | Number of | Expiration | Notional | Market | Unrealized Appreciation ($) | |
Futures Long | ||||||
E-mini Russell 2000 | 66 | 9/15/2023 | 6,223,346 | 6,644,880 | 421,534 | |
Gross Unrealized Appreciation | 421,534 |
See notes to financial statements.
STATEMENT OF INVESTMENTS
BNY Mellon Smallcap Stock Index Fund
July 31, 2023 (Unaudited)
The following is a summary of the inputs used as of July 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 | 1,329,008,549 | - | - | 1,329,008,549 | ||
Exchange-Traded Funds | 2,593,456 | - | - | 2,593,456 | ||
Investment Companies | 26,644,382 | - | - | 26,644,382 | ||
Rights | - | - | 0 | 0 | ||
Other Financial Instruments: | ||||||
Futures†† | 421,534 | - | - | 421,534 |
† See Statement of Investments for additional detailed categorizations, if any.
†† Amount shown represents unrealized appreciation (depreciation) at period end.
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. 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.
Financial futures, which are traded on an exchange, are valued at the last sales price on the securities exchange on which such securities are primarily traded or at the last sales price on the national securities market on each business day and are generally categorized within Level 1 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.
Derivatives: A derivative is a financial instrument whose performance is derived from the performance of another asset. Each type of derivative instrument that was held by the fund at July 31, 2023 is discussed below.
Futures: In the normal course of pursuing its investment objective, the fund is exposed to market risk, including interest rate risk as a result of changes in value of underlying financial instruments. The fund invests in futures in order to manage its exposure to or protect against changes in the market. A futures contract represents a commitment for the future purchase or a sale of an asset at a specified date. Upon entering into such contracts, these investments require initial margin deposits with a counterparty, which consist of cash or cash equivalents. The amount of these deposits is determined by the exchange or Board of Trade on which the contract is traded and is subject to change. Accordingly, variation margin payments are received or made to reflect daily unrealized gains or losses which are recorded in the Statement of Operations. When the contracts are closed, the fund recognizes a realized gain or loss which is reflected in the Statement of Operations. There is minimal counterparty credit risk to the fund with futures since they are exchange traded, and the exchange guarantees the futures against default.
At July 31, 2023, accumulated net unrealized appreciation on investments was $448,965,510, consisting of $563,524,472 gross unrealized appreciation and $114,558,962 gross unrealized depreciation.
At July 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.