| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class A | $ |
| * |
|
Fund Size (Millions) |
Number of Holdings |
Portfolio Turnover |
| $ |
| Not FDIC Insured. Not Bank-Guaranteed. May Lose Value |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class C | $ |
| * |
|
Fund Size (Millions) |
Number of Holdings |
Portfolio Turnover |
| $ |
| Not FDIC Insured. Not Bank-Guaranteed. May Lose Value |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class I | $ |
| * |
|
Fund Size (Millions) |
Number of Holdings |
Portfolio Turnover |
| $ |
| Not FDIC Insured. Not Bank-Guaranteed. May Lose Value |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class Y | $ |
| * |
|
Fund Size (Millions) |
Number of Holdings |
Portfolio Turnover |
| $ |
| Not FDIC Insured. Not Bank-Guaranteed. May Lose Value |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class A | $ |
| * |
|
Fund Size (Millions) |
Number of Holdings |
Portfolio Turnover |
| $ |
| Not FDIC Insured. Not Bank-Guaranteed. May Lose Value |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class C | $ |
| * |
|
Fund Size (Millions) |
Number of Holdings |
Portfolio Turnover |
| $ |
| Not FDIC Insured. Not Bank-Guaranteed. May Lose Value |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class I | $ |
| * |
|
Fund Size (Millions) |
Number of Holdings |
Portfolio Turnover |
| $ |
| Not FDIC Insured. Not Bank-Guaranteed. May Lose Value |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class Y | $ |
| * |
|
Fund Size (Millions) |
Number of Holdings |
Portfolio Turnover |
| $ |
| Not FDIC Insured. Not Bank-Guaranteed. May Lose Value |
| Item 2. | Code of Ethics. |
Not applicable.
| Item 3. | Audit Committee Financial Expert. |
Not applicable.
| Item 4. | Principal Accountant Fees and Services. |
Not applicable.
| Item 5. | Audit Committee of Listed Registrants. |
Not applicable.
| Item 6. | Investments. |
Not applicable.
|
Class
|
Ticker
|
|
A
|
DGLAX
|
|
C
|
DGLCX
|
|
I
|
DGLRX
|
|
Y
|
DGLYX
|

|
3
| |
|
3
| |
|
5
| |
|
6
| |
|
7
| |
|
9
| |
|
13
| |
|
19
| |
|
20
| |
|
21
| |
|
22
|
|
Description
|
|
|
|
Shares
|
Value
($) |
|
Common
Stocks — 98.3% | |||||
|
Australia
— 1.7% | |||||
|
CSL
Ltd. |
|
|
|
81,600
|
12,991,516
|
|
Canada
— 1.9% | |||||
|
Alimentation
Couche-Tard, Inc. |
|
|
|
283,500
|
14,698,164
|
|
Denmark
— 2.1% | |||||
|
Novo
Nordisk A/S, Cl. B |
|
|
|
242,000
|
16,709,787
|
|
France
— 3.7% | |||||
|
L’Oreal
SA |
|
|
|
35,400
|
14,968,592
|
|
LVMH
Moet Hennessy Louis Vuitton SE |
|
|
|
26,100
|
14,173,056
|
|
|
|
|
|
|
29,141,648
|
|
Hong
Kong — 3.2% | |||||
|
AIA
Group Ltd. |
|
|
|
2,975,800
|
24,915,033
|
|
Ireland
— 2.0% | |||||
|
Experian
PLC |
|
|
|
317,300
|
15,788,098
|
|
Japan
— 3.7% | |||||
|
Keyence
Corp. |
|
|
|
40,028
|
16,896,353
|
|
Shin-Etsu
Chemical Co. Ltd. |
|
|
|
383,600
|
12,372,130
|
|
|
|
|
|
|
29,268,483
|
|
Netherlands
— 3.7% | |||||
|
ASML
Holding NV |
|
|
|
27,760
|
20,610,988
|
|
Universal
Music Group NV |
|
|
|
260,700
|
8,335,693
|
|
|
|
|
|
|
28,946,681
|
|
Spain
— 2.0% | |||||
|
Industria
de Diseno Textil SA |
|
|
|
296,300
|
16,054,622
|
|
Switzerland
— 3.1% | |||||
|
Lonza
Group AG |
|
|
|
15,100
|
10,443,402
|
|
Roche
Holding AG |
|
|
|
43,300
|
13,968,591
|
|
|
|
|
|
|
24,411,993
|
|
Taiwan
— 3.9% | |||||
|
Taiwan
Semiconductor Manufacturing Co. Ltd., ADR |
|
|
|
159,300
|
30,795,876
|
|
United
Kingdom — 2.2% | |||||
|
Compass
Group PLC |
|
|
|
498,800
|
17,507,115
|
|
United
States — 65.1% | |||||
|
Adobe,
Inc.(a)
|
|
|
|
57,300
|
23,784,657
|
|
Amazon.com,
Inc.(a)
|
|
|
|
75,830
|
15,545,908
|
|
Amphenol
Corp., Cl. A |
|
|
|
313,700
|
28,211,041
|
|
Automatic
Data Processing, Inc. |
|
|
|
60,700
|
19,759,671
|
|
Booking
Holdings, Inc. |
|
|
|
3,460
|
19,095,498
|
|
Cognizant
Technology Solutions Corp., Cl. A |
|
|
|
137,308
|
11,120,575
|
|
Copart,
Inc.(a)
|
|
|
|
251,500
|
12,947,220
|
|
Costco
Wholesale Corp. |
|
|
|
7,600
|
7,905,368
|
|
Edwards
Lifesciences Corp.(a)
|
|
|
|
217,000
|
16,973,740
|
|
Fastenal
Co.(b)
|
|
|
|
450,800
|
18,636,072
|
|
Ferguson
Enterprises, Inc. |
|
|
|
92,000
|
16,775,280
|
|
Fortinet,
Inc.(a)
|
|
|
|
181,700
|
18,493,426
|
|
IDEXX
Laboratories, Inc.(a)
|
|
|
|
15,740
|
8,080,286
|
|
Intuitive
Surgical, Inc.(a)
|
|
|
|
28,200
|
15,575,988
|
|
Linde
PLC |
|
|
|
47,200
|
22,069,776
|
|
Mastercard,
Inc., Cl. A |
|
|
|
54,300
|
31,798,080
|
|
Description
|
|
|
|
Shares
|
Value
($) |
|
Common
Stocks — 98.3% (continued) | |||||
|
United
States — 65.1% (continued) | |||||
|
Mettler-Toledo
International, Inc.(a)
|
|
|
|
13,810
|
15,957,731
|
|
Microsoft
Corp. |
|
|
|
73,600
|
33,882,496
|
|
Moody’s
Corp. |
|
|
|
32,280
|
15,472,450
|
|
NIKE,
Inc., Cl. B |
|
|
|
161,500
|
9,785,285
|
|
Old
Dominion Freight Line, Inc. |
|
|
|
75,780
|
12,137,683
|
|
O’Reilly
Automotive, Inc.(a)
|
|
|
|
14,400
|
19,692,000
|
|
Paychex,
Inc. |
|
|
|
113,100
|
17,859,621
|
|
ResMed,
Inc.(b)
|
|
|
|
79,300
|
19,411,847
|
|
Stryker
Corp. |
|
|
|
46,900
|
17,945,816
|
|
Texas
Instruments, Inc. |
|
|
|
84,900
|
15,523,965
|
|
The
TJX Companies, Inc. |
|
|
|
146,100
|
18,540,090
|
|
Visa,
Inc., Cl. A |
|
|
|
33,600
|
12,270,384
|
|
Waters
Corp.(a)
|
|
|
|
24,034
|
8,393,634
|
|
West
Pharmaceutical Services, Inc. |
|
|
|
39,800
|
8,391,830
|
|
|
|
|
|
|
512,037,418
|
|
Total
Common Stocks
(cost
$328,172,671) |
|
|
|
|
773,266,434
|
|
|
|
1-Day
Yield
(%) |
|
|
|
|
Investment
Companies — .7% |
|
|
|
|
|
|
Registered
Investment Companies — .7% |
|
|
|
|
|
|
Dreyfus
Institutional Preferred Government Plus Money Market Fund, Institutional
Shares(c)
(cost
$5,146,774) |
|
4.42
|
|
5,146,774
|
5,146,774
|
|
Total
Investments (cost $333,319,445)
|
|
|
|
99.0
% |
778,413,208
|
|
Cash
and Receivables (Net) |
|
|
|
1.0
% |
8,174,241
|
|
Net
Assets |
|
|
|
100.0
% |
786,587,449
|
|
ADR—American
Depositary Receipt |
|
(a)
|
Non-income
producing security. |
|
(b)
|
Security,
or portion thereof, on loan. At May 31, 2025, the value of the fund’s securities on loan was $12,114,891 and the value of the collateral
was
$12,386,935,
consisting of U.S. Government & Agency securities. In addition, the value of collateral may include pending sales that are also
on loan. |
|
(c)
|
Investment
in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment
company’s
prospectus.
|
|
Affiliated
Issuers | |||||
|
Description
|
Value
($)
11/30/2024
|
Purchases
($)†
|
Sales
($) |
Value
($)
5/31/2025
|
Dividends/
Distributions
($) |
|
Registered
Investment Companies - .7% | |||||
|
Dreyfus
Institutional Preferred Government Plus Money
Market
Fund, Institutional Shares - .7% |
9,360,003
|
111,671,480
|
(115,884,709)
|
5,146,774
|
232,697
|
|
†
|
Includes
reinvested dividends/distributions. |
|
|
Cost
|
Value
|
|
Assets
($): |
|
|
|
Investments
in securities—See Statement of Investments
(including
securities on loan, valued at $12,114,891)—Note
1(c): |
|
|
|
Unaffiliated
issuers |
328,172,671
|
773,266,434
|
|
Affiliated
issuers |
5,146,774
|
5,146,774
|
|
Cash
denominated in foreign currency |
7
|
7
|
|
Receivable
for investment securities sold |
|
8,300,439
|
|
Tax
reclaim receivable—Note 1(b)
|
|
1,078,160
|
|
Dividends
and securities lending income receivable |
|
1,009,595
|
|
Receivable
for shares of Common Stock subscribed |
|
193,970
|
|
Prepaid
expenses |
|
46,474
|
|
|
|
789,041,853
|
|
Liabilities
($): |
|
|
|
Due
to BNY Mellon Investment Adviser, Inc. and affiliates—Note
3(c)
|
|
591,940
|
|
Payable
for shares of Common Stock redeemed |
|
1,748,327
|
|
Directors’
fees and expenses payable |
|
14,000
|
|
Interest
payable—Note 2 |
|
11,343
|
|
Other
accrued expenses |
|
88,794
|
|
|
|
2,454,404
|
|
Net
Assets ($) |
|
786,587,449
|
|
Composition
of Net Assets ($): |
|
|
|
Paid-in
capital |
|
208,666,187
|
|
Total
distributable earnings (loss) |
|
577,921,262
|
|
Net
Assets ($) |
|
786,587,449
|
|
Net
Asset Value Per Share |
Class
A |
Class
C |
Class
I |
Class
Y |
|
Net
Assets ($) |
28,879,715
|
1,076,795
|
521,865,087
|
234,765,852
|
|
Shares
Outstanding |
1,413,271
|
58,693
|
24,857,695
|
11,217,673
|
|
Net
Asset Value Per Share ($) |
20.43
|
18.35
|
20.99
|
20.93
|
|
|
|
|
Investment
Income ($): |
|
|
Income:
|
|
|
Cash
dividends (net of $423,731 foreign taxes withheld at source): |
|
|
Unaffiliated
issuers |
5,989,689
|
|
Affiliated
issuers |
232,697
|
|
Affiliated
income net of rebates from securities lending—Note
1(c)
|
5,756
|
|
Interest
|
4,559
|
|
Total
Income |
6,232,701
|
|
Expenses:
|
|
|
Management
fee—Note 3(a)
|
3,680,798
|
|
Shareholder
servicing costs—Note 3(c)
|
93,632
|
|
Professional
fees |
51,217
|
|
Directors’
fees and expenses—Note 3(d)
|
44,865
|
|
Registration
fees |
36,448
|
|
Chief
Compliance Officer fees—Note 3(c)
|
15,516
|
|
Custodian
fees—Note 3(c)
|
15,130
|
|
Interest
expense—Note 2 |
11,327
|
|
Loan
commitment fees—Note 2 |
10,795
|
|
Prospectus
and shareholders’ reports |
9,910
|
|
Distribution
Plan fees—Note 3(b)
|
5,265
|
|
Miscellaneous
|
19,707
|
|
Total
Expenses |
3,994,610
|
|
Less—reduction
in fees due to earnings credits—Note 3(c)
|
(898
) |
|
Net
Expenses |
3,993,712
|
|
Net
Investment Income |
2,238,989
|
|
Realized
and Unrealized Gain (Loss) on Investments—Note 4 ($):
|
|
|
Net
realized gain (loss) on investments and foreign currency transactions |
130,814,871
|
|
Net
realized gain (loss) on forward foreign currency exchange contracts |
(66,532
) |
|
Net
Realized Gain (Loss) |
130,748,339
|
|
Net
change in unrealized appreciation (depreciation) on investments and foreign currency transactions |
(150,802,555
) |
|
Net
Realized and Unrealized Gain (Loss) on Investments |
(20,054,216
) |
|
Net
(Decrease) in Net Assets Resulting from Operations |
(17,815,227
) |
|
|
Six
Months Ended
May
31, 2025
(Unaudited) |
Year
Ended
November
30, 2024
|
|
| ||
|
Operations
($): |
|
|
|
Net
investment income |
2,238,989
|
3,966,678
|
|
Net
realized gain (loss) on investments |
130,748,339
|
103,746,369
|
|
Net
change in unrealized appreciation (depreciation) on investments |
(150,802,555)
|
65,686,919
|
|
Net
Increase (Decrease) in Net Assets Resulting from Operations |
(17,815,227)
|
173,399,966
|
|
Distributions
($): |
|
|
|
Distributions
to shareholders: |
|
|
|
Class
A |
(3,295,229)
|
(5,373,356)
|
|
Class
C |
(225,234)
|
(373,516)
|
|
Class
I |
(57,784,531)
|
(84,361,925)
|
|
Class
Y |
(35,280,229)
|
(56,920,723)
|
|
Total
Distributions |
(96,585,223)
|
(147,029,520)
|
|
Capital
Stock Transactions ($): |
|
|
|
Net
proceeds from shares sold: |
|
|
|
Class
A |
1,762,249
|
2,082,750
|
|
Class
C |
28,677
|
526,366
|
|
Class
I |
10,531,704
|
89,232,553
|
|
Class
Y |
5,560,093
|
19,686,554
|
|
Distributions
reinvested: |
|
|
|
Class
A |
3,020,137
|
4,955,938
|
|
Class
C |
223,270
|
370,041
|
|
Class
I |
55,848,448
|
80,929,189
|
|
Class
Y |
28,476,347
|
44,102,042
|
|
Cost
of shares redeemed: |
|
|
|
Class
A |
(5,929,393)
|
(8,554,875)
|
|
Class
C |
(1,246,178)
|
(780,266)
|
|
Class
I |
(53,074,760)
|
(146,815,971)
|
|
Class
Y |
(110,359,629)
|
(78,073,096)
|
|
Increase
(Decrease) in Net Assets from Capital Stock Transactions |
(65,159,035)
|
7,661,225
|
|
Total
Increase (Decrease) in Net Assets |
(179,559,485)
|
34,031,671
|
|
Net
Assets ($): |
|
|
|
Beginning
of Period |
966,146,934
|
932,115,263
|
|
End
of Period |
786,587,449
|
966,146,934
|
|
|
Six
Months Ended
May
31, 2025 (Unaudited) |
Year
Ended
November
30, 2024 |
|
| ||
|
Capital
Share Transactions (Shares): |
|
|
|
Class
A |
|
|
|
Shares
sold |
85,892
|
96,837
|
|
Shares
issued for distributions reinvested |
145,920
|
248,101
|
|
Shares
redeemed |
(288,816)
|
(395,696)
|
|
Net
Increase (Decrease) in Shares Outstanding |
(57,004)
|
(50,758)
|
|
Class
C |
|
|
|
Shares
sold |
1,571
|
27,749
|
|
Shares
issued for distributions reinvested |
11,850
|
20,181
|
|
Shares
redeemed |
(66,607)
|
(39,965)
|
|
Net
Increase (Decrease) in Shares Outstanding |
(53,186)
|
7,965
|
|
Class
I(a)
|
|
|
|
Shares
sold |
502,225
|
4,133,467
|
|
Shares
issued for distributions reinvested |
2,631,742
|
3,958,220
|
|
Shares
redeemed |
(2,597,385)
|
(6,584,493)
|
|
Net
Increase (Decrease) in Shares Outstanding |
536,582
|
1,507,194
|
|
Class
Y(a)
|
|
|
|
Shares
sold |
269,673
|
901,498
|
|
Shares
issued for distributions reinvested |
1,345,032
|
2,163,380
|
|
Shares
redeemed |
(5,457,860)
|
(3,521,537)
|
|
Net
Increase (Decrease) in Shares Outstanding |
(3,843,155)
|
(456,659)
|
|
(a)
|
During
the period ended May 31, 2025, 23,703 Class Y shares representing $518,763 were exchanged for 23,632 Class I shares and during the period
ended
November
30, 2024, 242,177 Class Y shares representing $5,395,522 were exchanged for 241,477 Class I shares. |
|
|
Six
Months Ended
May
31, 2025
(Unaudited)
|
Year
Ended November 30, | ||||
|
Class
A Shares |
2024
|
2023
|
2022
|
2021
|
2020
| |
|
Per
Share Data ($): |
|
|
|
|
| |
|
Net
asset value, beginning of period |
23.03
|
22.86
|
22.86
|
28.41
|
25.74
|
23.07
|
|
Investment
Operations: |
|
|
|
|
| |
|
Net
investment income(a)
|
.02
|
.02
|
.01
|
.02
|
.01
|
.06
|
|
Net
realized and unrealized gain (loss) on
investments
|
(.34
) |
3.76
|
2.24
|
(3.04
) |
4.09
|
3.71
|
|
Total
from Investment Operations |
(.32
) |
3.78
|
2.25
|
(3.02
) |
4.10
|
3.77
|
|
Distributions:
|
|
|
|
|
|
|
|
Dividends
from net investment income |
(.02
) |
(.02
) |
(.03
) |
(.00
)(b)
|
(.08
) |
(.10
) |
|
Dividends
from net realized gain on
investments
|
(2.26
) |
(3.59
) |
(2.22
) |
(2.53
) |
(1.35
) |
(1.00
) |
|
Total
Distributions |
(2.28
) |
(3.61
) |
(2.25
) |
(2.53
) |
(1.43
) |
(1.10
) |
|
Net
asset value, end of period |
20.43
|
23.03
|
22.86
|
22.86
|
28.41
|
25.74
|
|
Total
Return (%)(c)
|
(1.33
)(d)
|
18.98
|
10.82
|
(11.84
) |
16.72
|
17.00
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
| |
|
Ratio
of total expenses to average net assets |
1.22
(e)
|
1.22
|
1.22
|
1.22
|
1.20
|
1.23
|
|
Ratio
of net expenses to average net assets |
1.22
(e),(f)
|
1.22
(f)
|
1.22
(f)
|
1.22
(f)
|
1.20
|
1.23
|
|
Ratio
of net investment income to average
net
assets |
.22
(e),(f)
|
.11
(f)
|
.07
(f)
|
.09
(f)
|
.03
|
.27
|
|
Portfolio
Turnover Rate |
6.25
(d)
|
10.58
|
10.12
|
1.10
|
9.79
|
4.13
|
|
Net
Assets, end of period ($ x 1,000) |
28,880
|
33,862
|
34,765
|
34,704
|
45,402
|
38,828
|
|
(a)
|
Based
on average shares outstanding. |
|
(b)
|
Amount
represents less than $.01 per share. |
|
(c)
|
Exclusive
of sales charge. |
|
(d)
|
Not
annualized. |
|
(e)
|
Annualized.
|
|
(f)
|
Amount
inclusive of reduction in fees due to earnings credits. |
|
|
Six
Months Ended
May
31, 2025
(Unaudited)
|
Year
Ended November 30, | ||||
|
Class
C Shares |
2024
|
2023
|
2022
|
2021
|
2020
| |
|
Per
Share Data ($): |
|
|
|
|
| |
|
Net
asset value, beginning of period |
20.97
|
21.24
|
21.53
|
27.11
|
24.73
|
22.26
|
|
Investment
Operations: |
|
|
|
|
| |
|
Net
investment (loss)(a)
|
(.06
) |
(.14
) |
(.16
) |
(.15
) |
(.19
) |
(.10
) |
|
Net
realized and unrealized gain (loss) on
investments
|
(.30
) |
3.46
|
2.09
|
(2.90
) |
3.92
|
3.57
|
|
Total
from Investment Operations |
(.36
) |
3.32
|
1.93
|
(3.05
) |
3.73
|
3.47
|
|
Distributions:
|
|
|
|
|
|
|
|
Dividends
from net realized gain on
investments
|
(2.26
) |
(3.59
) |
(2.22
) |
(2.53
) |
(1.35
) |
(1.00
) |
|
Net
asset value, end of period |
18.35
|
20.97
|
21.24
|
21.53
|
27.11
|
24.73
|
|
Total
Return (%)(b)
|
(1.70
)(c)
|
18.01
|
9.94
|
(12.59
) |
15.83
|
16.15
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
| |
|
Ratio
of total expenses to average net assets |
2.08
(d)
|
2.01
|
2.06
|
2.01
|
1.97
|
1.98
|
|
Ratio
of net expenses to average net assets |
2.08
(d),(e)
|
2.01
(e)
|
2.06
(e)
|
2.01
(e)
|
1.97
|
1.98
|
|
Ratio
of net investment (loss) to average net
assets
|
(.63
)(d),(e)
|
(.69
)(e)
|
(.77
)(e)
|
(.69
)(e)
|
(.77
) |
(.45
) |
|
Portfolio
Turnover Rate |
6.25
(c)
|
10.58
|
10.12
|
1.10
|
9.79
|
4.13
|
|
Net
Assets, end of period ($ x 1,000) |
1,077
|
2,347
|
2,208
|
2,281
|
4,401
|
8,114
|
|
(a)
|
Based
on average shares outstanding. |
|
(b)
|
Exclusive
of sales charge. |
|
(c)
|
Not
annualized. |
|
(d)
|
Annualized.
|
|
(e)
|
Amount
inclusive of reduction in fees due to earnings credits. |
|
|
Six
Months Ended
May
31, 2025
(Unaudited)
|
Year
Ended November 30, | ||||
|
Class
I Shares |
2024
|
2023
|
2022
|
2021
|
2020
| |
|
Per
Share Data ($): |
|
|
|
|
| |
|
Net
asset value, beginning of period |
23.64
|
23.37
|
23.34
|
28.95
|
26.19
|
23.44
|
|
Investment
Operations: |
|
|
|
|
| |
|
Net
investment income(a)
|
.05
|
.09
|
.09
|
.10
|
.09
|
.12
|
|
Net
realized and unrealized gain (loss) on
investments
|
(.34
) |
3.87
|
2.27
|
(3.10
) |
4.16
|
3.78
|
|
Total
from Investment Operations |
(.29
) |
3.96
|
2.36
|
(3.00
) |
4.25
|
3.90
|
|
Distributions:
|
|
|
|
|
|
|
|
Dividends
from net investment income |
(.10
) |
(.10
) |
(.11
) |
(.08
) |
(.14
) |
(.15
) |
|
Dividends
from net realized gain on
investments
|
(2.26
) |
(3.59
) |
(2.22
) |
(2.53
) |
(1.35
) |
(1.00
) |
|
Total
Distributions |
(2.36
) |
(3.69
) |
(2.33
) |
(2.61
) |
(1.49
) |
(1.15
) |
|
Net
asset value, end of period |
20.99
|
23.64
|
23.37
|
23.34
|
28.95
|
26.19
|
|
Total
Return (%) |
(1.18
)(b)
|
19.35
|
11.19
|
(11.59
) |
17.07
|
17.32
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
| |
|
Ratio
of total expenses to average net assets |
.92
(c)
|
.91
|
.91
|
.89
|
.93
|
.96
|
|
Ratio
of net expenses to average net assets |
.92
(c),(d)
|
.91
(d)
|
.91
(d)
|
.89
(d)
|
.93
|
.96
|
|
Ratio
of net investment income to average
net
assets |
.52
(c),(d)
|
.41
(d)
|
.39
(d)
|
.42
(d)
|
.31
|
.53
|
|
Portfolio
Turnover Rate |
6.25
(b)
|
10.58
|
10.12
|
1.10
|
9.79
|
4.13
|
|
Net
Assets, end of period ($ x 1,000) |
521,865
|
574,912
|
533,266
|
616,996
|
862,835
|
1,026,985
|
|
(a)
|
Based
on average shares outstanding. |
|
(b)
|
Not
annualized. |
|
(c)
|
Annualized.
|
|
(d)
|
Amount
inclusive of reduction in fees due to earnings credits. |
|
|
Six
Months Ended
May
31, 2025
(Unaudited)
|
Year
Ended November 30, | ||||
|
Class
Y Shares |
2024
|
2023
|
2022
|
2021
|
2020
| |
|
Per
Share Data ($): |
|
|
|
|
| |
|
Net
asset value, beginning of period |
23.57
|
23.32
|
23.29
|
28.91
|
26.16
|
23.41
|
|
Investment
Operations: |
|
|
|
|
| |
|
Net
investment income(a)
|
.06
|
.09
|
.09
|
.10
|
.08
|
.14
|
|
Net
realized and unrealized gain (loss) on
investments
|
(.34
) |
3.85
|
2.27
|
(3.10
) |
4.17
|
3.78
|
|
Total
from Investment Operations |
(.28
) |
3.94
|
2.36
|
(3.00
) |
4.25
|
3.92
|
|
Distributions:
|
|
|
|
|
|
|
|
Dividends
from net investment income |
(.10
) |
(.10
) |
(.11
) |
(.09
) |
(.15
) |
(.17
) |
|
Dividends
from net realized gain on
investments
|
(2.26
) |
(3.59
) |
(2.22
) |
(2.53
) |
(1.35
) |
(1.00
) |
|
Total
Distributions |
(2.36
) |
(3.69
) |
(2.33
) |
(2.62
) |
(1.50
) |
(1.17
) |
|
Net
asset value, end of period |
20.93
|
23.57
|
23.32
|
23.29
|
28.91
|
26.16
|
|
Total
Return (%) |
(1.12
)(b)
|
19.38
|
11.17
|
(11.58
) |
17.11
|
17.43
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
| |
|
Ratio
of total expenses to average net assets |
.90
(c)
|
.89
|
.90
|
.89
|
.89
|
.89
|
|
Ratio
of net expenses to average net assets |
.90
(c),(d)
|
.89
(d)
|
.90
(d)
|
.89
(d)
|
.89
|
.89
|
|
Ratio
of net investment income to average
net
assets |
.55
(c),(d)
|
.43
(d)
|
.40
(d)
|
.43
(d)
|
.29
|
.62
|
|
Portfolio
Turnover Rate |
6.25
(b)
|
10.58
|
10.12
|
1.10
|
9.79
|
4.13
|
|
Net
Assets, end of period ($ x 1,000) |
234,766
|
355,026
|
361,877
|
405,812
|
562,727
|
338,021
|
|
(a)
|
Based
on average shares outstanding. |
|
(b)
|
Not
annualized. |
|
(c)
|
Annualized.
|
|
(d)
|
Amount
inclusive of reduction in fees due to earnings credits. |
|
|
Level
1 -
Unadjusted
Quoted
Prices |
Level
2- Other
Significant
Observable
Inputs |
Level
3-
Significant
Unobservable
Inputs
|
Total
|
|
Assets
($) |
|
|
|
|
|
Investments
in Securities:†
|
|
|
|
|
|
Equity
Securities - Common Stocks |
773,266,434
|
—
|
—
|
773,266,434
|
|
Investment
Companies |
5,146,774
|
—
|
—
|
5,146,774
|
|
|
778,413,208
|
—
|
—
|
778,413,208
|
|
†
|
See
Statement of Investments for additional detailed categorizations, if any. |
|
Assets
($) |
|
|
Gross
amount of securities loaned, at
value,
as disclosed in the Statement
of
Assets and Liabilities |
12,114,891
|
|
Collateral
(received)/posted not offset
in
the Statement of
Assets
and Liabilities |
(12,114,891
)†
|
|
†
|
The
value of the related collateral received by the fund exceeded the value of the securities loaned by the fund pursuant to the securities
lending agreement. In addition,
the
value of collateral may include pending sales that are also on loan. See Statement of Investments for detailed information regarding collateral
received for open
securities
lending. |
|
Amount
of realized gain (loss) on derivatives recognized in income ($) | ||
|
Underlying
risk |
Forward
Contracts(1)
|
Total
|
|
Foreign
Exchange |
(66,532)
|
(66,532)
|
|
Total
|
(66,532)
|
(66,532)
|
|
(1)
|
Net
realized gain (loss) on forward foreign currency exchange contracts. |
|
|
Average
Market Value ($) |
|
Forward
Contracts: |
|
|
Forward
Contracts Sold in USD |
705,407
|

|
Class
|
Ticker
|
|
A
|
DISAX
|
|
C
|
DISCX
|
|
I
|
DISRX
|
|
Y
|
DISYX
|

|
3
| |
|
3
| |
|
6
| |
|
7
| |
|
8
| |
|
10
| |
|
14
| |
|
20
| |
|
21
| |
|
22
| |
|
23
|
|
Description
|
|
|
|
Shares
|
Value
($) |
|
Common
Stocks — 98.6% | |||||
|
Australia
— 3.2% | |||||
|
Cochlear
Ltd. |
|
|
|
352,400
|
61,673,136
|
|
CSL
Ltd. |
|
|
|
686,800
|
109,345,259
|
|
|
|
|
|
|
171,018,395
|
|
Canada
— 4.8% | |||||
|
Alimentation
Couche-Tard, Inc. |
|
|
|
2,690,300
|
139,479,612
|
|
Canadian
National Railway Co. |
|
|
|
1,132,300
|
119,026,194
|
|
|
|
|
|
|
258,505,806
|
|
Denmark
— 4.4% | |||||
|
Coloplast
A/S, Cl. B |
|
|
|
1,058,900
|
102,440,919
|
|
Novo
Nordisk A/S, Cl. B |
|
|
|
1,953,700
|
134,900,458
|
|
|
|
|
|
|
237,341,377
|
|
Finland
— 2.5% | |||||
|
Kone
OYJ, Cl. B |
|
|
|
2,198,600
|
136,902,596
|
|
France
— 13.6% | |||||
|
Air
Liquide SA |
|
|
|
646,400
|
133,873,370
|
|
Dassault
Systemes SE |
|
|
|
3,102,000
|
116,231,475
|
|
Hermes
International SCA |
|
|
|
42,000
|
115,788,649
|
|
L’Oreal
SA |
|
|
|
314,000
|
132,772,256
|
|
LVMH
Moet Hennessy Louis Vuitton SE |
|
|
|
203,500
|
110,506,394
|
|
Schneider
Electric SE |
|
|
|
109,700
|
27,571,105
|
|
TotalEnergies
SE |
|
|
|
1,710,600
|
100,339,258
|
|
|
|
|
|
|
737,082,507
|
|
Germany
— 9.0% | |||||
|
adidas
AG |
|
|
|
368,150
|
91,754,494
|
|
Infineon
Technologies AG |
|
|
|
3,479,000
|
135,394,152
|
|
Merck
KGaA |
|
|
|
747,400
|
98,017,380
|
|
SAP
SE |
|
|
|
532,400
|
160,740,161
|
|
|
|
|
|
|
485,906,187
|
|
Hong
Kong — 3.2% | |||||
|
AIA
Group Ltd. |
|
|
|
17,347,200
|
145,240,295
|
|
Jardine
Matheson Holdings Ltd. |
|
|
|
669,200
|
29,779,400
|
|
|
|
|
|
|
175,019,695
|
|
Ireland
— 2.8% | |||||
|
Experian
PLC |
|
|
|
3,074,300
|
152,969,899
|
|
Italy
— 2.2% | |||||
|
Ferrari
NV |
|
|
|
246,300
|
117,849,287
|
|
Japan
— 15.1% | |||||
|
Daikin
Industries Ltd.(a)
|
|
|
|
942,000
|
108,572,709
|
|
Hoya
Corp. |
|
|
|
934,700
|
111,174,054
|
|
Keyence
Corp. |
|
|
|
361,380
|
152,543,321
|
|
Nomura
Research Institute Ltd. |
|
|
|
596,400
|
23,119,074
|
|
Shin-Etsu
Chemical Co. Ltd. |
|
|
|
3,669,500
|
118,351,225
|
|
SMC
Corp. |
|
|
|
251,700
|
94,718,753
|
|
Sysmex
Corp.(a)
|
|
|
|
5,525,900
|
93,413,613
|
|
Terumo
Corp. |
|
|
|
6,029,800
|
111,506,987
|
|
|
|
|
|
|
813,399,736
|
|
Netherlands
— 10.4% | |||||
|
ASM
International NV |
|
|
|
213,000
|
115,991,668
|
|
Description
|
|
|
|
Shares
|
Value
($) |
|
Common
Stocks — 98.6% (continued) | |||||
|
Netherlands
— 10.4% (continued) | |||||
|
ASML
Holding NV |
|
|
|
236,100
|
175,297,345
|
|
Universal
Music Group NV |
|
|
|
4,384,000
|
140,175,208
|
|
Wolters
Kluwer NV |
|
|
|
721,000
|
127,956,472
|
|
|
|
|
|
|
559,420,693
|
|
Spain
— 4.6% | |||||
|
Amadeus
IT Group SA |
|
|
|
1,492,300
|
124,337,422
|
|
Industria
de Diseno Textil SA |
|
|
|
2,246,000
|
121,696,532
|
|
|
|
|
|
|
246,033,954
|
|
Sweden
— 2.0% | |||||
|
Atlas
Copco AB, Cl. B |
|
|
|
7,560,000
|
107,679,502
|
|
Switzerland
— 8.0% | |||||
|
ABB
Ltd. |
|
|
|
1,019,900
|
57,674,539
|
|
Lonza
Group AG |
|
|
|
179,600
|
124,214,241
|
|
Roche
Holding AG |
|
|
|
376,900
|
121,588,032
|
|
SGS
SA |
|
|
|
1,257,566
|
131,074,133
|
|
|
|
|
|
|
434,550,945
|
|
Taiwan
— 4.1% | |||||
|
Taiwan
Semiconductor Manufacturing Co. Ltd., ADR |
|
|
|
1,135,200
|
219,456,864
|
|
United
Kingdom — 8.7% | |||||
|
Compass
Group PLC |
|
|
|
4,623,800
|
162,288,294
|
|
Diageo
PLC |
|
|
|
2,881,300
|
78,302,352
|
|
Halma
PLC |
|
|
|
1,460,000
|
57,164,827
|
|
National
Grid PLC(a)
|
|
|
|
3,718,800
|
52,435,146
|
|
The
Sage Group PLC |
|
|
|
7,201,300
|
118,275,566
|
|
|
|
|
|
|
468,466,185
|
|
Total
Common Stocks
(cost
$3,394,333,678) |
|
|
|
|
5,321,603,628
|
|
|
|
1-Day
Yield
(%) |
|
|
|
|
Investment
Companies — 1.0% |
|
|
|
|
|
|
Registered
Investment Companies — 1.0% |
|
|
|
|
|
|
Dreyfus
Institutional Preferred Government Plus Money Market Fund, Institutional
Shares(b)
(cost
$55,381,594) |
|
4.42
|
|
55,381,594
|
55,381,594
|
|
Investment
of Cash Collateral for Securities Loaned — .8% |
|
|
|
|
|
|
Registered
Investment Companies — .8% |
|
|
|
|
|
|
Dreyfus
Institutional Preferred Government Plus Money Market Fund, Institutional
Shares(b)
(cost
$43,443,855) |
|
4.42
|
|
43,443,855
|
43,443,855
|
|
Total
Investments (cost $3,493,159,127)
|
|
|
|
100.4
% |
5,420,429,077
|
|
Liabilities,
Less Cash and Receivables |
|
|
|
(.4
%) |
(24,076,192
) |
|
Net
Assets |
|
|
|
100.0
% |
5,396,352,885
|
|
ADR—American
Depositary Receipt |
|
(a)
|
Security,
or portion thereof, on loan. At May 31, 2025, the value of the fund’s securities on loan was $41,529,323 and the value of the collateral
was
$43,443,855,
consisting of cash collateral. In addition, the value of collateral may include pending sales that are also on loan.
|
|
(b)
|
Investment
in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment
company’s
prospectus.
|
|
Affiliated
Issuers | |||||
|
Description
|
Value
($)
11/30/2024
|
Purchases
($)†
|
Sales
($) |
Value
($)
5/31/2025
|
Dividends/
Distributions
($) |
|
Registered
Investment Companies - 1.0% | |||||
|
Dreyfus
Institutional Preferred Government Plus Money
Market
Fund, Institutional Shares - 1.0% |
66,942,757
|
599,220,749
|
(610,781,912)
|
55,381,594
|
1,670,660
|
|
Investment
of Cash Collateral for Securities Loaned - .8% | |||||
|
Dreyfus
Institutional Preferred Government Plus Money
Market
Fund, Institutional Shares - .8% |
70,789
|
103,804,667
|
(60,431,601)
|
43,443,855
|
7,557††
|
|
Total
- 1.8% |
67,013,546
|
703,025,416
|
(671,213,513)
|
98,825,449
|
1,678,217
|
|
†
|
Includes
reinvested dividends/distributions. |
|
††
|
Represents
securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment
expenses, and
other
payments to and from borrowers of securities. |
|
|
Cost
|
Value
|
|
Assets
($): |
|
|
|
Investments
in securities—See Statement of Investments
(including
securities on loan, valued at $41,529,323)—Note
1(c): |
|
|
|
Unaffiliated
issuers |
3,394,333,678
|
5,321,603,628
|
|
Affiliated
issuers |
98,825,449
|
98,825,449
|
|
Cash
denominated in foreign currency |
3,379,241
|
3,400,282
|
|
Tax
reclaim receivable—Note 1(b)
|
|
18,902,176
|
|
Dividends
and securities lending income receivable |
|
14,961,606
|
|
Receivable
for shares of Common Stock subscribed |
|
2,689,440
|
|
Prepaid
expenses |
|
79,387
|
|
|
|
5,460,461,968
|
|
Liabilities
($): |
|
|
|
Due
to BNY Mellon Investment Adviser, Inc. and affiliates—Note
3(c)
|
|
4,112,394
|
|
Liability
for securities on loan—Note 1(c)
|
|
43,443,855
|
|
Payable
for shares of Common Stock redeemed |
|
14,416,269
|
|
Payable
for investment securities purchased |
|
1,483,892
|
|
Directors’
fees and expenses payable |
|
93,333
|
|
Other
accrued expenses |
|
559,340
|
|
|
|
64,109,083
|
|
Net
Assets ($) |
|
5,396,352,885
|
|
Composition
of Net Assets ($): |
|
|
|
Paid-in
capital |
|
3,169,438,132
|
|
Total
distributable earnings (loss) |
|
2,226,914,753
|
|
Net
Assets ($) |
|
5,396,352,885
|
|
Net
Asset Value Per Share |
Class
A |
Class
C |
Class
I |
Class
Y |
|
Net
Assets ($) |
53,778,558
|
5,904,860
|
3,130,322,485
|
2,206,346,982
|
|
Shares
Outstanding |
2,268,927
|
257,398
|
131,170,936
|
93,687,850
|
|
Net
Asset Value Per Share ($) |
23.70
|
22.94
|
23.86
|
23.55
|
|
|
|
|
Investment
Income ($): |
|
|
Income:
|
|
|
Cash
dividends (net of $9,093,680 foreign taxes withheld at source): |
|
|
Unaffiliated
issuers |
70,887,435
|
|
Affiliated
issuers |
1,670,660
|
|
Interest
|
50,742
|
|
Affiliated
income net of rebates from securities lending—Note
1(c)
|
7,557
|
|
Total
Income |
72,616,394
|
|
Expenses:
|
|
|
Management
fee—Note 3(a)
|
23,765,819
|
|
Shareholder
servicing costs—Note 3(c)
|
942,020
|
|
Directors’
fees and expenses—Note 3(d)
|
282,963
|
|
Custodian
fees—Note 3(c)
|
234,213
|
|
Loan
commitment fees—Note 2 |
62,876
|
|
Registration
fees |
58,209
|
|
Prospectus
and shareholders’ reports |
57,745
|
|
Professional
fees |
52,672
|
|
Distribution
Plan fees—Note 3(b)
|
23,377
|
|
Chief
Compliance Officer fees—Note 3(c)
|
15,534
|
|
Interest
expense—Note 2 |
3,770
|
|
Miscellaneous
|
103,938
|
|
Total
Expenses |
25,603,136
|
|
Less—reduction
in fees due to earnings credits—Note 3(c)
|
(2,449
) |
|
Net
Expenses |
25,600,687
|
|
Net
Investment Income |
47,015,707
|
|
Realized
and Unrealized Gain (Loss) on Investments—Note 4 ($):
|
|
|
Net
realized gain (loss) on investments and foreign currency transactions |
251,929,403
|
|
Net
realized gain (loss) on forward foreign currency exchange contracts |
(636,292
) |
|
Net
Realized Gain (Loss) |
251,293,111
|
|
Net
change in unrealized appreciation (depreciation) on investments and foreign currency transactions |
(184,060,262
) |
|
Net
Realized and Unrealized Gain (Loss) on Investments |
67,232,849
|
|
Net
Increase in Net Assets Resulting from Operations |
114,248,556
|
|
|
Six
Months Ended
May
31, 2025
(Unaudited) |
Year
Ended
November
30, 2024
|
|
| ||
|
Operations
($): |
|
|
|
Net
investment income |
47,015,707
|
50,767,610
|
|
Net
realized gain (loss) on investments |
251,293,111
|
172,918,007
|
|
Net
change in unrealized appreciation (depreciation) on investments |
(184,060,262)
|
190,081,019
|
|
Net
Increase (Decrease) in Net Assets Resulting from Operations |
114,248,556
|
413,766,636
|
|
Distributions
($): |
|
|
|
Distributions
to shareholders: |
|
|
|
Class
A |
(1,944,382)
|
(1,005,350)
|
|
Class
C |
(208,386)
|
(112,896)
|
|
Class
I |
(125,502,190)
|
(73,419,561)
|
|
Class
Y |
(96,038,475)
|
(51,262,675)
|
|
Total
Distributions |
(223,693,433)
|
(125,800,482)
|
|
Capital
Stock Transactions ($): |
|
|
|
Net
proceeds from shares sold: |
|
|
|
Class
A |
6,091,774
|
21,289,173
|
|
Class
C |
359,222
|
690,944
|
|
Class
I |
295,629,861
|
607,830,415
|
|
Class
Y |
130,676,638
|
610,658,579
|
|
Distributions
reinvested: |
|
|
|
Class
A |
1,637,357
|
933,628
|
|
Class
C |
208,386
|
112,896
|
|
Class
I |
120,241,143
|
70,165,760
|
|
Class
Y |
53,398,370
|
27,182,246
|
|
Cost
of shares redeemed: |
|
|
|
Class
A |
(9,724,209)
|
(21,709,085)
|
|
Class
C |
(1,518,497)
|
(2,524,143)
|
|
Class
I |
(590,796,961)
|
(828,967,724)
|
|
Class
Y |
(440,282,503)
|
(517,629,852)
|
|
Increase
(Decrease) in Net Assets from Capital Stock Transactions |
(434,079,419)
|
(31,967,163)
|
|
Total
Increase (Decrease) in Net Assets |
(543,524,296)
|
255,998,991
|
|
Net
Assets ($): |
|
|
|
Beginning
of Period |
5,939,877,181
|
5,683,878,190
|
|
End
of Period |
5,396,352,885
|
5,939,877,181
|
|
|
Six
Months Ended
May
31, 2025 (Unaudited) |
Year
Ended
November
30, 2024 |
|
| ||
|
Capital
Share Transactions (Shares): |
|
|
|
Class
A(a),(b)
|
|
|
|
Shares
sold |
263,309
|
867,695
|
|
Shares
issued for distributions reinvested |
70,313
|
40,663
|
|
Shares
redeemed |
(419,259)
|
(887,483)
|
|
Net
Increase (Decrease) in Shares Outstanding |
(85,637)
|
20,875
|
|
Class
C(a)
|
|
|
|
Shares
sold |
16,019
|
29,088
|
|
Shares
issued for distributions reinvested |
9,216
|
5,049
|
|
Shares
redeemed |
(67,265)
|
(106,811)
|
|
Net
Increase (Decrease) in Shares Outstanding |
(42,030)
|
(72,674)
|
|
Class
I(b)
|
|
|
|
Shares
sold |
12,757,513
|
24,684,909
|
|
Shares
issued for distributions reinvested |
5,133,297
|
3,040,111
|
|
Shares
redeemed |
(25,644,391)
|
(33,814,989)
|
|
Net
Increase (Decrease) in Shares Outstanding |
(7,753,581)
|
(6,089,969)
|
|
Class
Y(b)
|
|
|
|
Shares
sold |
5,680,553
|
25,078,931
|
|
Shares
issued for distributions reinvested |
2,309,970
|
1,193,250
|
|
Shares
redeemed |
(19,262,712)
|
(21,247,779)
|
|
Net
Increase (Decrease) in Shares Outstanding |
(11,272,189)
|
5,024,402
|
|
(a)
|
During
the period ended May 31, 2025, 25 Class C shares representing $579 were automatically converted to 25 Class A shares. |
|
(b)
|
During
the period ended May 31, 2025, 439,674 Class Y shares representing $10,077,193 were exchanged for 433,869 Class I shares. During the period
ended
November
30, 2024, 75,417 Class I shares representing $1,930,025 were exchanged for 75,986 Class A shares, 135,987 Class Y shares representing
$3,299,105
were exchanged for 135,250 Class A shares, and 499,000 Class I shares representing $12,634,596 were exchanged for 505,372 Class Y shares.
|
|
|
Six
Months Ended
May
31, 2025
(Unaudited)
|
Year
Ended November 30, | ||||
|
Class
A Shares |
2024
|
2023
|
2022
|
2021
|
2020
| |
|
Per
Share Data ($): |
|
|
|
|
| |
|
Net
asset value, beginning of period |
24.03
|
22.88
|
21.31
|
25.66
|
24.09
|
20.76
|
|
Investment
Operations: |
|
|
|
|
| |
|
Net
investment income(a)
|
.16
|
.12
|
.14
|
.10
|
.05
|
.08
|
|
Net
realized and unrealized gain (loss) on
investments
|
.35
|
1.46
|
1.88
|
(4.31
) |
2.21
|
3.72
|
|
Total
from Investment Operations |
.51
|
1.58
|
2.02
|
(4.21
) |
2.26
|
3.80
|
|
Distributions:
|
|
|
|
|
|
|
|
Dividends
from net investment income |
(.13
) |
(.12
) |
(.12
) |
(.05
) |
(.08
) |
(.15
) |
|
Dividends
from net realized gain on
investments
|
(.71
) |
(.31
) |
(.33
) |
(.09
) |
(.61
) |
(.32
) |
|
Total
Distributions |
(.84
) |
(.43
) |
(.45
) |
(.14
) |
(.69
) |
(.47
) |
|
Net
asset value, end of period |
23.70
|
24.03
|
22.88
|
21.31
|
25.66
|
24.09
|
|
Total
Return (%)(b)
|
2.18
(c)
|
7.00
|
9.59
|
(16.50
) |
9.58
|
18.67
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
| |
|
Ratio
of total expenses to average net assets |
1.23
(d)
|
1.24
|
1.23
|
1.29
|
1.27
|
1.30
|
|
Ratio
of net expenses to average net assets |
1.23
(d),(e)
|
1.24
(e)
|
1.23
(e)
|
1.29
(e)
|
1.27
|
1.30
|
|
Ratio
of net investment income to average
net
assets |
1.37
(d),(e)
|
.50
(e)
|
.62
(e)
|
.45
(e)
|
.20
|
.35
|
|
Portfolio
Turnover Rate |
4.95
(c)
|
12.30
|
7.37
|
6.98
|
8.72
|
7.20
|
|
Net
Assets, end of period ($ x 1,000) |
53,779
|
56,575
|
53,400
|
55,110
|
74,707
|
59,740
|
|
(a)
|
Based
on average shares outstanding. |
|
(b)
|
Exclusive
of sales charge. |
|
(c)
|
Not
annualized. |
|
(d)
|
Annualized.
|
|
(e)
|
Amount
inclusive of reduction in fees due to earnings credits. |
|
|
Six
Months Ended
May
31, 2025
(Unaudited)
|
Year
Ended November 30, | ||||
|
Class
C Shares |
2024
|
2023
|
2022
|
2021
|
2020
| |
|
Per
Share Data ($): |
|
|
|
|
| |
|
Net
asset value, beginning of period |
23.24
|
22.19
|
20.71
|
25.07
|
23.63
|
20.38
|
|
Investment
Operations: |
|
|
|
|
| |
|
Net
investment income (loss)(a)
|
.06
|
(.05
) |
(.04
) |
(.05
) |
(.12
) |
(.06
) |
|
Net
realized and unrealized gain (loss) on
investments
|
.35
|
1.41
|
1.85
|
(4.22
) |
2.17
|
3.65
|
|
Total
from Investment Operations |
.41
|
1.36
|
1.81
|
(4.27
) |
2.05
|
3.59
|
|
Distributions:
|
|
|
|
|
|
|
|
Dividends
from net investment income |
-
|
-
|
-
|
-
|
-
|
(.02
) |
|
Dividends
from net realized gain on
investments
|
(.71
) |
(.31
) |
(.33
) |
(.09
) |
(.61
) |
(.32
) |
|
Total
Distributions |
(.71
) |
(.31
) |
(.33
) |
(.09
) |
(.61
) |
(.34
) |
|
Net
asset value, end of period |
22.94
|
23.24
|
22.19
|
20.71
|
25.07
|
23.63
|
|
Total
Return (%)(b)
|
1.82
(c)
|
6.17
|
8.83
|
(17.10
) |
8.85
|
17.84
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
| |
|
Ratio
of total expenses to average net assets |
1.99
(d)
|
1.97
|
1.98
|
1.98
|
1.97
|
1.98
|
|
Ratio
of net expenses to average net assets |
1.99
(d),(e)
|
1.97
(e)
|
1.98
(e)
|
1.98
(e)
|
1.97
|
1.98
|
|
Ratio
of net investment income (loss) to
average
net assets |
.56
(d),(e)
|
(.21
)(e)
|
(.18
)(e)
|
(.24
)(e)
|
(.47
) |
(.30
) |
|
Portfolio
Turnover Rate |
4.95
(c)
|
12.30
|
7.37
|
6.98
|
8.72
|
7.20
|
|
Net
Assets, end of period ($ x 1,000) |
5,905
|
6,959
|
8,255
|
5,903
|
11,190
|
14,510
|
|
(a)
|
Based
on average shares outstanding. |
|
(b)
|
Exclusive
of sales charge. |
|
(c)
|
Not
annualized. |
|
(d)
|
Annualized.
|
|
(e)
|
Amount
inclusive of reduction in fees due to earnings credits. |
|
|
Six
Months Ended
May
31, 2025
(Unaudited)
|
Year
Ended November 30, | ||||
|
Class
I Shares |
2024
|
2023
|
2022
|
2021
|
2020
| |
|
Per
Share Data ($): |
|
|
|
|
| |
|
Net
asset value, beginning of period |
24.22
|
23.07
|
21.50
|
25.88
|
24.27
|
20.90
|
|
Investment
Operations: |
|
|
|
|
| |
|
Net
investment income(a)
|
.19
|
.20
|
.20
|
.18
|
.14
|
.15
|
|
Net
realized and unrealized gain (loss) on
investments
|
.36
|
1.46
|
1.90
|
(4.33
) |
2.23
|
3.75
|
|
Total
from Investment Operations |
.55
|
1.66
|
2.10
|
(4.15
) |
2.37
|
3.90
|
|
Distributions:
|
|
|
|
|
|
|
|
Dividends
from net investment income |
(.20
) |
(.20
) |
(.20
) |
(.14
) |
(.15
) |
(.21
) |
|
Dividends
from net realized gain on
investments
|
(.71
) |
(.31
) |
(.33
) |
(.09
) |
(.61
) |
(.32
) |
|
Total
Distributions |
(.91
) |
(.51
) |
(.53
) |
(.23
) |
(.76
) |
(.53
) |
|
Net
asset value, end of period |
23.86
|
24.22
|
23.07
|
21.50
|
25.88
|
24.27
|
|
Total
Return (%) |
2.35
(b)
|
7.29
|
9.95
|
(16.20
) |
10.01
|
19.07
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
| |
|
Ratio
of total expenses to average net assets |
.93
(c)
|
.93
|
.93
|
.92
|
.91
|
.91
|
|
Ratio
of net expenses to average net assets |
.93
(c),(d)
|
.93
(d)
|
.93
(d)
|
.92
(d)
|
.91
|
.91
|
|
Ratio
of net investment income to average
net
assets |
1.68
(c),(d)
|
.82
(d)
|
.90
(d)
|
.81
(d)
|
.56
|
.72
|
|
Portfolio
Turnover Rate |
4.95
(b)
|
12.30
|
7.37
|
6.98
|
8.72
|
7.20
|
|
Net
Assets, end of period ($ x 1,000) |
3,130,322
|
3,365,411
|
3,345,179
|
2,925,622
|
3,847,708
|
3,142,203
|
|
(a)
|
Based
on average shares outstanding. |
|
(b)
|
Not
annualized. |
|
(c)
|
Annualized.
|
|
(d)
|
Amount
inclusive of reduction in fees due to earnings credits. |
|
|
Six
Months Ended
May
31, 2025
(Unaudited)
|
Year
Ended November 30, | ||||
|
Class
Y Shares |
2024
|
2023
|
2022
|
2021
|
2020
| |
|
Per
Share Data ($): |
|
|
|
|
| |
|
Net
asset value, beginning of period |
23.92
|
22.79
|
21.24
|
25.57
|
23.99
|
20.66
|
|
Investment
Operations: |
|
|
|
|
| |
|
Net
investment income(a)
|
.19
|
.21
|
.21
|
.19
|
.15
|
.16
|
|
Net
realized and unrealized gain (loss) on
investments
|
.36
|
1.44
|
1.88
|
(4.28
) |
2.19
|
3.71
|
|
Total
from Investment Operations |
.55
|
1.65
|
2.09
|
(4.09
) |
2.34
|
3.87
|
|
Distributions:
|
|
|
|
|
|
|
|
Dividends
from net investment income |
(.21
) |
(.21
) |
(.21
) |
(.15
) |
(.15
) |
(.22
) |
|
Dividends
from net realized gain on
investments
|
(.71
) |
(.31
) |
(.33
) |
(.09
) |
(.61
) |
(.32
) |
|
Total
Distributions |
(.92
) |
(.52
) |
(.54
) |
(.24
) |
(.76
) |
(.54
) |
|
Net
asset value, end of period |
23.55
|
23.92
|
22.79
|
21.24
|
25.57
|
23.99
|
|
Total
Return (%) |
2.39
(b)
|
7.33
|
10.02
|
(16.17
) |
10.02
|
19.12
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
| |
|
Ratio
of total expenses to average net assets |
.88
(c)
|
.89
|
.89
|
.89
|
.88
|
.89
|
|
Ratio
of net expenses to average net assets |
.88
(c),(d)
|
.89
(d)
|
.89
(d)
|
.89
(d)
|
.88
|
.89
|
|
Ratio
of net investment income to average
net
assets |
1.70
(c),(d)
|
.85
(d)
|
.95
(d)
|
.85
(d)
|
.59
|
.77
|
|
Portfolio
Turnover Rate |
4.95
(b)
|
12.30
|
7.37
|
6.98
|
8.72
|
7.20
|
|
Net
Assets, end of period ($ x 1,000) |
2,206,347
|
2,510,932
|
2,277,044
|
2,325,263
|
3,069,335
|
2,818,746
|
|
(a)
|
Based
on average shares outstanding. |
|
(b)
|
Not
annualized. |
|
(c)
|
Annualized.
|
|
(d)
|
Amount
inclusive of reduction in fees due to earnings credits. |
|
|
Level
1 -
Unadjusted
Quoted
Prices |
Level
2- Other
Significant
Observable
Inputs |
Level
3-
Significant
Unobservable
Inputs
|
Total
|
|
Assets
($) |
|
|
|
|
|
Investments
in Securities:†
|
|
|
|
|
|
Equity
Securities - Common Stocks |
5,321,603,628
|
—
|
—
|
5,321,603,628
|
|
Investment
Companies |
98,825,449
|
—
|
—
|
98,825,449
|
|
|
5,420,429,077
|
—
|
—
|
5,420,429,077
|
|
†
|
See
Statement of Investments for additional detailed categorizations, if any. |
|
Assets
($) |
|
|
Gross
amount of securities loaned, at
value,
as disclosed in the Statement
of
Assets and Liabilities |
41,529,323
|
|
Collateral
(received)/posted not offset
in
the Statement of
Assets
and Liabilities |
(41,529,323
)†
|
|
†
|
The
value of the related collateral received by the fund exceeded the value of the securities loaned by the fund pursuant to the securities
lending agreement. In addition,
the
value of collateral may include pending sales that are also on loan. See Statement of Investments for detailed information regarding collateral
received for open
securities
lending. |
|
Amount
of realized gain (loss) on derivatives recognized in income ($) | ||
|
Underlying
risk |
Forward
Contracts(1)
|
Total
|
|
Foreign
Exchange |
(636,292)
|
(636,292)
|
|
Total
|
(636,292)
|
(636,292)
|
|
Statement
of Operations location: | |
|
(1)
|
Net
realized gain (loss) on forward foreign currency exchange contracts. |
|
|
Average
Market Value ($) |
|
Forward
Contracts: |
|
|
Forward
Contracts Sold in USD |
57,648
|

| Item 12. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
Not applicable.
| Item 13. | Portfolio Managers for Closed-End Management Investment Companies. |
Not applicable.
| Item 14. | Purchases of Equity Securities By Closed-End Management Investment Companies and Affiliated Purchasers. |
Not applicable.
| Item 15. | Submission of Matters to a Vote of Security Holders. |
There have been no materials changes to the procedures applicable to Item 15.
| Item 16. | Controls and Procedures. |
| (a) | The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-CSR is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure. |
| (b) | There were no changes to the Registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting. |
| Item 17. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not applicable.
| Item 18. | Recovery of Erroneously Awarded Compensation. |
Not applicable.
| Item 19. | Exhibits. |
(a)(1) Not applicable.
(a)(3) Not applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
BNY Mellon Strategic Funds, Inc.
By: /s/ David J. DiPetrillo
David J. DiPetrillo
President (Principal Executive Officer)
Date: July 21, 2025
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: /s/ David J. DiPetrillo
David J. DiPetrillo
President (Principal Executive Officer)
Date: July 21, 2025
By: /s/ James Windels
James Windels
Treasurer (Principal Financial Officer)
Date: July 21, 2025
EXHIBIT INDEX
(a)(2) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)
(b) Certification of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940. (EX-99.906CERT)