NPORT-EX 2 c10238bnymelloninco-may20211.htm Untitled Document

STATEMENT OF INVESTMENTS
BNY Mellon Income Stock Fund

May 31, 2021 (Unaudited)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 94.2%

     

Automobiles & Components - .8%

     

General Motors

   

80,277

a 

4,761,229

 

Banks - 14.0%

     

Bank of America

   

651,157

 

27,602,545

 

JPMorgan Chase & Co.

   

160,651

 

26,385,320

 

Truist Financial

   

101,015

 

6,240,707

 

U.S. Bancorp

   

384,381

 

23,362,677

 
    

83,591,249

 

Capital Goods - 8.4%

     

Carrier Global

   

109,366

 

5,023,180

 

Eaton

   

93,554

 

13,588,718

 

Hubbell

   

43,869

 

8,363,186

 

L3Harris Technologies

   

71,809

 

15,658,671

 

Northrop Grumman

   

19,912

 

7,285,203

 
    

49,918,958

 

Consumer Durables & Apparel - 2.0%

     

Newell Brands

   

210,150

 

6,029,204

 

VF

   

69,913

 

5,573,464

 
    

11,602,668

 

Consumer Services - 1.2%

     

Las Vegas Sands

   

127,835

a 

7,382,471

 

Diversified Financials - 10.4%

     

Ally Financial

   

251,552

 

13,762,410

 

Ameriprise Financial

   

52,954

 

13,759,567

 

Equitable Holdings

   

122,592

 

3,892,296

 

Morgan Stanley

   

157,130

 

14,290,973

 

The Goldman Sachs Group

   

12,442

 

4,628,673

 

Voya Financial

   

181,106

b 

11,866,065

 
    

62,199,984

 

Energy - 10.5%

     

Devon Energy

   

458,813

 

12,186,073

 

Exxon Mobil

   

291,687

 

17,025,770

 

Hess

   

131,518

 

11,023,839

 

Marathon Petroleum

   

259,265

 

16,022,577

 

Valero Energy

   

78,114

 

6,280,366

 
    

62,538,625

 

Food, Beverage & Tobacco - 4.9%

     

Mondelez International, Cl. A

   

151,722

 

9,638,899

 

PepsiCo

   

40,714

 

6,023,229

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 94.2% (continued)

     

Food, Beverage & Tobacco - 4.9% (continued)

     

Philip Morris International

   

141,348

 

13,630,188

 
    

29,292,316

 

Health Care Equipment & Services - 7.0%

     

CVS Health

   

169,072

 

14,614,584

 

Medtronic

   

181,145

 

22,931,146

 

UnitedHealth Group

   

10,057

 

4,142,679

 
    

41,688,409

 

Insurance - 4.3%

     

Assurant

   

122,968

 

19,816,293

 

Chubb

   

35,836

 

6,091,762

 
    

25,908,055

 

Materials - 3.6%

     

CF Industries Holdings

   

168,937

 

8,982,380

 

Newmont

   

168,502

 

12,381,527

 
    

21,363,907

 

Media & Entertainment - 1.7%

     

Comcast, Cl. A

   

176,825

 

10,139,146

 

Pharmaceuticals Biotechnology & Life Sciences - 6.8%

     

AbbVie

   

222,130

 

25,145,116

 

Eli Lilly & Co.

   

48,756

 

9,738,523

 

Viatris

   

374,407

 

5,705,963

 
    

40,589,602

 

Real Estate - .8%

     

Weyerhaeuser

   

118,298

c 

4,490,592

 

Semiconductors & Semiconductor Equipment - 3.5%

     

Applied Materials

   

79,791

 

11,021,531

 

Qualcomm

   

71,499

 

9,619,475

 
    

20,641,006

 

Technology Hardware & Equipment - 3.5%

     

Cisco Systems

   

240,510

 

12,722,979

 

Corning

   

192,950

 

8,418,409

 
    

21,141,388

 

Telecommunication Services - 2.1%

     

Vodafone Group, ADR

   

678,875

b 

12,538,821

 

Transportation - 2.0%

     

Union Pacific

   

54,196

 

12,179,467

 

Utilities - 6.7%

     

Clearway Energy, Cl. C

   

260,873

 

6,999,223

 

Exelon

   

305,921

 

13,803,156

 

NextEra Energy Partners

   

168,029

 

11,488,143

 

PPL

   

252,001

 

7,335,749

 
    

39,626,271

 

Total Common Stocks (cost $385,642,009)

   

561,594,164

 


        
 
  

Preferred Dividend
Yield (%)

     

Preferred Stocks - 2.0%

     

Health Care Equipment & Services - 2.0%

     

Becton Dickinson & Co.
(cost $11,041,131)

 

2.29

 

216,210

b 

11,783,445

 
  

1-Day
Yield (%)

     

Investment Companies - 4.1%

     

Registered Investment Companies - 4.1%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares
(cost $24,808,614)

 

0.04

 

24,808,614

d 

24,808,614

 
        

Investment of Cash Collateral for Securities Loaned - .9%

     

Registered Investment Companies - .9%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, SL Shares
(cost $5,380,310)

 

0.01

 

5,380,310

d 

5,380,310

 

Total Investments (cost $426,872,064)

 

101.2%

 

603,566,533

 

Liabilities, Less Cash and Receivables

 

(1.2%)

 

(7,388,121)

 

Net Assets

 

100.0%

 

596,178,412

 

ADR—American Depository Receipt

a Non-income producing security.

b Security, or portion thereof, on loan. At May 31, 2021, the value of the fund’s securities on loan was $32,813,950 and the value of the collateral was $33,529,794, consisting of cash collateral of $5,380,310 and U.S. Government & Agency securities valued at $28,149,484.

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 Income Stock Fund

May 31, 2021 (Unaudited)

The following is a summary of the inputs used as of May 31, 2021 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

561,594,164

-

-

561,594,164

Equity Securities – Preferred Stocks

11,783,445

-

-

11,783,445

Investment Companies

30,188,924

-

-

30,188,924

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 May 31, 2021, accumulated net unrealized appreciation on investments was $176,694,469, consisting of $177,434,336 gross unrealized appreciation and $739,867 gross unrealized depreciation.

At May 31, 2021, 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.