NPORT-EX 2 c10912bnymellonint-june20211.htm Untitled Document

STATEMENT OF INVESTMENTS
BNY Mellon International Equity Fund

June 30, 2021 (Unaudited)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 97.0%

     

China - 6.1%

     

Alibaba Group Holding

   

457,596

a 

12,965,898

 

Meituan, Cl. B

   

110,168

a,b 

4,546,170

 

Ping An Insurance Group Company of China, Cl. H

   

1,057,000

 

10,353,135

 

Tencent Holdings

   

231,251

 

17,393,787

 
    

45,258,990

 

Denmark - 1.4%

     

Chr. Hansen Holding

   

55,983

 

5,052,641

 

Novozymes, Cl. B

   

75,448

 

5,686,947

 
    

10,739,588

 

France - 11.1%

     

AXA

   

347,712

 

8,817,025

 

Bureau Veritas

   

455,068

 

14,396,445

 

L'Oreal

   

23,059

 

10,275,202

 

LVMH

   

19,393

 

15,206,759

 

Thales

   

61,672

 

6,291,896

 

TotalEnergies

   

260,674

 

11,793,489

 

Vivendi

   

463,016

 

15,553,771

 
    

82,334,587

 

Germany - 8.3%

     

Bayer

   

170,025

 

10,324,302

 

Continental

   

80,118

 

11,778,090

 

Deutsche Post

   

126,172

 

8,581,541

 

Infineon Technologies

   

312,610

 

12,536,306

 

SAP

   

133,375

 

18,794,475

 
    

62,014,714

 

Hong Kong - 2.9%

     

AIA Group

   

1,741,312

 

21,642,210

 

India - 1.2%

     

Housing Development Finance

   

176,686

 

5,883,789

 

Vakrangee

   

4,872,018

a 

2,736,536

 
    

8,620,325

 

Ireland - 2.2%

     

CRH

   

323,595

 

16,307,368

 

Japan - 20.9%

     

Ebara

   

164,300

 

8,089,662

 

FANUC

   

34,000

 

8,200,459

 

M3

   

85,400

 

6,236,556

 

Pan Pacific International Holdings

   

582,900

 

12,099,261

 

Recruit Holdings

   

420,513

 

20,704,857

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 97.0% (continued)

     

Japan - 20.9% (continued)

     

Sony Group

   

261,800

 

25,485,998

 

Sugi Holdings

   

107,800

 

7,859,760

 

Suntory Beverage & Food

   

163,100

 

6,136,712

 

Suzuki Motor

   

402,600

 

17,036,074

 

TechnoPro Holdings

   

773,100

 

18,288,013

 

Topcon

   

596,000

 

8,894,802

 

Toyota Industries

   

185,100

 

16,011,621

 
    

155,043,775

 

Netherlands - 3.4%

     

ASML Holding

   

36,966

 

25,396,513

 

Norway - 2.3%

     

Mowi

   

359,654

 

9,147,834

 

TOMRA Systems

   

146,087

 

8,059,247

 
    

17,207,081

 

South Korea - 2.4%

     

Samsung SDI

   

28,365

 

17,580,935

 

Sweden - 1.6%

     

Swedbank, Cl. A

   

646,850

 

12,035,895

 

Switzerland - 9.3%

     

Alcon

   

91,048

 

6,374,590

 

Lonza Group

   

22,036

 

15,618,707

 

Novartis

   

154,150

 

14,048,017

 

Roche Holding

   

49,947

 

18,815,484

 

Zurich Insurance Group

   

34,981

 

14,033,988

 
    

68,890,786

 

Taiwan - 1.8%

     

Taiwan Semiconductor Manufacturing, ADR

   

113,213

 

13,603,674

 

United Kingdom - 22.1%

     

Anglo American

   

472,374

 

18,769,919

 

Associated British Foods

   

243,738

 

7,471,527

 

Barclays

   

7,481,099

 

17,708,532

 

Diageo

   

450,656

 

21,575,612

 

GlaxoSmithKline

   

683,700

 

13,424,149

 

Informa

   

1,019,163

a 

7,071,598

 

Linde

   

39,609

 

11,429,267

 

Natwest Group

   

3,029,912

 

8,516,675

 

Persimmon

   

163,482

 

6,689,359

 

Prudential

   

753,166

 

14,309,872

 

RELX

   

462,451

 

12,326,937

 

St. James's Place

   

463,827

 

9,476,608

 

Unilever

   

264,904

 

15,506,036

 
    

164,276,091

 

Total Common Stocks (cost $476,257,270)

   

720,952,532

 


        
 
  

Preferred Dividend
Yield (%)

     

Preferred Stocks - 1.4%

     

Germany - 1.4%

     

Volkswagen
(cost $10,949,215)

 

2.33

 

41,268

 

10,334,762

 
  

1-Day
Yield (%)

     

Investment Companies - 1.1%

     

Registered Investment Companies - 1.1%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares
(cost $8,432,176)

 

0.05

 

8,432,176

c 

8,432,176

 

Total Investments (cost $495,638,661)

 

99.5%

 

739,719,470

 

Cash and Receivables (Net)

 

.5%

 

3,981,620

 

Net Assets

 

100.0%

 

743,701,090

 

ADR—American Depository Receipt

a Non-income producing security.

b Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2021, these securities were valued at $4,546,170 or .61% of net assets.

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 International Equity Fund

June 30, 2021 (Unaudited)

The following is a summary of the inputs used as of June 30, 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

720,952,532

-

 

-

720,952,532

Equity Securities - Preferred Stocks

10,334,762

-

 

-

10,334,762

Investment Companies

8,432,176

-

 

-

8,432,176

Other Financial Instruments:

     

Forward Foreign Currency Exchange Contracts††

-

19,836

 

-

19,836

See Statement of Investments for additional detailed categorizations, if any.

†† Amount shown represents unrealized appreciation at period end.


STATEMENT OF FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS
BNY Mellon International Equity Fund

June 30, 2021 (Unaudited)

      

Counterparty/ Purchased
Currency

Purchased Currency
Amounts

Currency
Sold

Sold
Currency
Amounts

Settlement Date

Unrealized Appreciation ($)

State Street Bank and Trust Company

Australian Dollar

18,871,448

Swiss Franc

13,054,328

9/14/2021

19,836

Gross Unrealized Appreciation

  

19,836

See notes to financial statements.


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. These securities are generally categorized within Level 2 of the fair value hierarchy.

Fair valuing of securities may be determined with the assistance of a pricing service using calculations based on indices of domestic securities and other appropriate indicators, such as prices of relevant American Depository Receipts and futures. Utilizing these techniques may result in transfers between Level 1 and Level 2 of the fair value hierarchy.

When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded (for example, a foreign exchange or market), but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the fund's Board Members (the “Board”). Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

For securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.

Investments denominated in foreign currencies are translated to U.S. dollars at the prevailing rates of exchange.

Forward foreign currency exchange contracts (“forward contracts”) are valued at the forward rate and are generally categorized within Level 2 of the fair value hierarchy.

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 June 30, 2021 is discussed below.

Forward Foreign Currency Exchange Contracts: The fund enters into forward contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings, to settle foreign currency transactions or as a part of its investment strategy. When executing forward contracts, the fund is obligated to buy or sell a foreign currency at a specified rate on a certain date in the future. With respect to


sales of forward contracts, the fund incurs a loss if the value of the contract increases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract decreases between those dates. With respect to purchases of forward contracts, the fund incurs a loss if the value of the contract decreases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract increases between those dates. Any realized or unrealized gains or losses which occurred during the period are reflected in the Statement of Operations. The fund is exposed to foreign currency risk as a result of changes in value of underlying financial instruments. The fund is also exposed to credit risk associated with counterparty nonperformance on these forward contracts, which is generally limited to the unrealized gain on each open contract. This risk may be mitigated by Master Agreements, if any, between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund’s exposure to the counterparty.

At June 30, 2021, accumulated net unrealized appreciation on investments was $244,080,809, consisting of $265,224,329 gross unrealized appreciation and $21,143,520 gross unrealized depreciation.

At June 30, 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.