NPORT-EX 2 c10625bnymellonla-march20231.htm Untitled Document

STATEMENT OF INVESTMENTS
BNY Mellon Large Cap Securities Fund, Inc.

March 31, 2023 (Unaudited)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 99.2%

     

Banks - 4.1%

     

Bank of America Corp.

   

979,430

 

28,011,698

 

JPMorgan Chase & Co.

   

273,137

 

35,592,482

 
    

63,604,180

 

Capital Goods - 7.5%

     

AMETEK, Inc.

   

220,731

 

32,078,836

 

Howmet Aerospace, Inc.

   

488,112

 

20,681,305

 

Ingersoll Rand, Inc.

   

561,365

 

32,660,216

 

Trane Technologies PLC

   

169,289

 

31,145,790

 
    

116,566,147

 

Commercial & Professional Services - 1.0%

     

CoStar Group, Inc.

   

234,765

a 

 16,163,570

 

Consumer Discretionary Distribution - 5.4%

     

Amazon.com, Inc.

   

492,613

a 

50,881,997

 

National Vision Holdings, Inc.

   

448,269

a 

8,445,388

 

The TJX Companies, Inc.

   

327,399

 

25,654,986

 
    

84,982,371

 

Consumer Services - 1.6%

     

Booking Holdings, Inc.

   

9,569

a 

 25,380,911

 

Consumer Staples Distribution - 1.5%

     

Walmart, Inc.

   

163,996

 

 24,181,210

 

Energy - 7.8%

     

EQT Corp.

   

698,734

 

22,296,602

 

Hess Corp.

   

246,598

 

32,634,779

 

Schlumberger NV

   

671,322

 

32,961,910

 

Valero Energy Corp.

   

239,064

 

33,373,334

 
    

121,266,625

 

Financial Services - 4.1%

     

BlackRock, Inc.

   

36,883

 

24,679,153

 

The Goldman Sachs Group, Inc.

   

61,946

 

20,263,156

 

Visa, Inc., Cl. A

   

85,555

b 

19,289,230

 
    

64,231,539

 

Food, Beverage & Tobacco - 2.6%

     

PepsiCo, Inc.

   

223,860

 

 40,809,678

 

Health Care Equipment & Services - 6.8%

     

DexCom, Inc.

   

248,448

a 

28,864,689

 

Edwards Lifesciences Corp.

   

249,356

a 

20,629,222

 

Intuitive Surgical, Inc.

   

88,240

a 

22,542,673

 

Medtronic PLC

   

209,192

 

16,865,059

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 99.2% (continued)

     

Health Care Equipment & Services - 6.8% (continued)

     

The Cooper Companies, Inc.

   

45,591

 

17,021,856

 
    

105,923,499

 

Household & Personal Products - 1.0%

     

The Estee Lauder Companies, Inc., Cl. A

   

60,236

 

 14,845,765

 

Insurance - 4.4%

     

Assurant, Inc.

   

137,522

 

16,512,267

 

Chubb Ltd.

   

114,516

 

22,236,717

 

The Progressive Corp.

   

205,678

 

29,424,295

 
    

68,173,279

 

Materials - 2.7%

     

Alcoa Corp.

   

643,447

 

27,385,104

 

CF Industries Holdings, Inc.

   

204,721

 

14,840,225

 
    

42,225,329

 

Media & Entertainment - 6.2%

     

Alphabet, Inc., Cl. C

   

770,267

a 

80,107,768

 

The Walt Disney Company

   

172,895

a 

17,311,976

 
    

97,419,744

 

Pharmaceuticals Biotechnology & Life Sciences - 10.1%

     

AbbVie, Inc.

   

269,398

 

42,933,959

 

Danaher Corp.

   

173,311

 

43,681,304

 

Eli Lilly & Co.

   

140,955

 

48,406,766

 

Zoetis, Inc.

   

133,622

 

22,240,046

 
    

157,262,075

 

Semiconductors & Semiconductor Equipment - 7.5%

     

Applied Materials, Inc.

   

191,966

 

23,579,184

 

NVIDIA Corp.

   

264,358

 

73,430,722

 

Texas Instruments, Inc.

   

108,050

 

20,098,381

 
    

117,108,287

 

Software & Services - 12.6%

     

Ansys, Inc.

   

62,784

a 

20,894,515

 

Microsoft Corp.

   

401,182

 

115,660,771

 

Roper Technologies, Inc.

   

78,262

 

34,489,281

 

Salesforce, Inc.

   

131,245

a 

26,220,126

 
    

197,264,693

 

Technology Hardware & Equipment - 9.3%

     

Apple, Inc.

   

805,350

 

132,802,215

 

Zebra Technologies Corp., Cl. A

   

40,538

a 

12,891,084

 
    

145,693,299

 

Utilities - 3.0%

     

Constellation Energy Corp.

   

206,464

 

16,207,424

 

NextEra Energy, Inc.

   

400,328

 

30,857,282

 
    

47,064,706

 

Total Common Stocks (cost $947,115,676)

   

1,550,166,907

 


        
 
  

1-Day
Yield (%)

     

Investment Companies - .9%

     

Registered Investment Companies - .9%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares
(cost $13,446,033)

 

4.89

 

13,446,033

c 

 13,446,033

 

Total Investments (cost $960,561,709)

 

100.1%

 

1,563,612,940

 

Liabilities, Less Cash and Receivables

 

(.1%)

 

(1,684,479)

 

Net Assets

 

100.0%

 

1,561,928,461

 

a Non-income producing security.

b Security, or portion thereof, on loan. At March 31, 2023, the value of the fund’s securities on loan was $19,096,237 and the value of the collateral was $19,215,281, consisting of U.S. Government & Agency securities. In addition, the value of collateral may include pending sales that are also on loan.

c 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 Large Cap Securities Fund, Inc.

March 31, 2023 (Unaudited)

The following is a summary of the inputs used as of March 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

1,550,166,907

-

 

-

1,550,166,907

 

Investment Companies

13,446,033

-

 

-

13,446,033

 

 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 fund’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.

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 March 31, 2023, accumulated net unrealized appreciation on investments was $603,051,231, consisting of $664,239,414 gross unrealized appreciation and $61,188,183 gross unrealized depreciation.

At March 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.