NPORT-EX 2 c10928bnymellonsma-june20211.htm Untitled Document

STATEMENT OF INVESTMENTS
BNY Mellon Small/Mid Cap Growth Fund

June 30, 2021 (Unaudited)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 94.3%

     

Capital Goods - 8.2%

     

AerCap Holdings

   

340,253

a 

17,424,356

 

Armstrong World Industries

   

444,744

 

47,703,241

 

Array Technologies

   

1,872,874

a,b 

29,216,834

 

Colfax

   

435,695

a,b 

19,959,188

 

Curtiss-Wright

   

239,701

 

28,466,891

 

Graco

   

441,746

 

33,440,172

 

Holicity, Cl. A

   

1,196,729

a,b 

14,779,603

 

Kornit Digital

   

303,574

a 

37,743,355

 

Masco

   

666,112

 

39,240,658

 

Mercury Systems

   

778,870

a 

51,623,504

 

Rexnord

   

598,000

 

29,923,920

 

Ribbit LEAP

   

273,588

a 

3,039,563

 

SiteOne Landscape Supply

   

127,499

a,b 

21,580,481

 

The AZEK Company

   

681,029

a 

28,916,491

 

TPG Pace Tech Opportunities, Cl. A

   

2,343,947

a 

23,275,394

 
    

426,333,651

 

Commercial & Professional Services - 3.6%

     

CACI International, Cl. A

   

196,377

a 

50,099,700

 

Clarivate

   

2,548,911

a 

70,171,520

 

CoStar Group

   

434,960

a 

36,023,387

 

FTI Consulting

   

201,871

a 

27,577,597

 
    

183,872,204

 

Consumer Durables & Apparel - 5.7%

     

Callaway Golf

   

1,021,839

a,b 

34,466,630

 

Lululemon Athletica

   

183,895

a 

67,116,158

 

Peloton Interactive, Cl. A

   

1,536,063

a 

190,502,533

 
    

292,085,321

 

Consumer Services - 6.7%

     

Aramark

   

590,524

 

21,997,019

 

Chegg

   

295,367

a,b 

24,547,951

 

DraftKings, Cl. A

   

1,021,319

a,b 

53,282,212

 

Expedia Group

   

419,841

a 

68,732,170

 

Norwegian Cruise Line Holdings

   

1,211,123

a,b 

35,619,127

 

OneSpaWorld Holdings

   

727,272

a,b 

7,047,266

 

Planet Fitness, Cl. A

   

1,827,346

a 

137,507,787

 
    

348,733,532

 

Diversified Financials - 2.6%

     

Ares Management, Cl. A

   

757,591

 

48,175,212

 

Morningstar

   

191,649

 

49,274,874

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 94.3% (continued)

     

Diversified Financials - 2.6% (continued)

     

Tradeweb Markets, Cl. A

   

436,008

 

36,868,837

 
    

134,318,923

 

Energy - .8%

     

Cactus, Cl. A

   

1,077,644

 

39,571,088

 

Food & Staples Retailing - 1.0%

     

Grocery Outlet Holding

   

1,432,072

a,b 

49,635,616

 

Health Care Equipment & Services - 10.1%

     

1Life Healthcare

   

3,033,964

a,b 

100,302,850

 

ABIOMED

   

240,395

a 

75,029,684

 

Align Technology

   

164,955

a 

100,787,505

 

DexCom

   

215,151

a 

91,869,477

 

Insulet

   

178,958

a 

49,125,761

 

Nevro

   

174,647

a 

28,954,726

 

Oak Street Health

   

20,393

a,b 

1,194,418

 

Outset Medical

   

3,865

a,b 

193,173

 

Privia Health Group

   

314,796

a,b 

13,967,499

 

Teladoc Health

   

262,722

a,b 

43,688,041

 

Teleflex

   

39,498

 

15,869,901

 
    

520,983,035

 

Insurance - 1.5%

     

Markel

   

24,582

a 

29,171,705

 

Palomar Holdings

   

302,876

a,b 

22,855,023

 

Reinsurance Group of America

   

211,468

 

24,107,352

 
    

76,134,080

 

Materials - 1.2%

     

Alamos Gold, Cl. A

   

2,232,372

 

17,077,646

 

Constellium

   

2,390,607

a 

45,302,003

 
    

62,379,649

 

Media & Entertainment - 1.6%

     

Liberty Media Corp-Liberty Formula One, Cl. C

   

915,062

a 

44,115,139

 

Live Nation Entertainment

   

458,505

a,b 

40,160,453

 
    

84,275,592

 

Pharmaceuticals Biotechnology & Life Sciences - 15.6%

     

10X Genomics, CI. A

   

317,498

a 

62,172,458

 

Acceleron Pharma

   

246,307

a 

30,909,065

 

Adaptive Biotechnologies

   

462,781

a 

18,909,232

 

Arena Pharmaceuticals

   

296,931

a 

20,250,694

 

Ascendis Pharma, ADR

   

200,028

a 

26,313,683

 

Biohaven Pharmaceutical Holding

   

682,280

a,b 

66,235,742

 

Bio-Techne

   

103,300

 

46,511,858

 

Blueprint Medicines

   

333,787

a 

29,359,905

 

FibroGen

   

1,248,883

a,b 

33,257,754

 

Horizon Therapeutics

   

1,075,349

a,b 

100,695,680

 


        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 94.3% (continued)

     

Pharmaceuticals Biotechnology & Life Sciences - 15.6% (continued)

     

Iovance Biotherapeutics

   

921,962

a,b 

23,989,451

 

Natera

   

347,660

a 

39,469,840

 

Neurocrine Biosciences

   

467,927

a 

45,538,656

 

PTC Therapeutics

   

619,523

a 

26,187,237

 

Repligen

   

193,214

a 

38,569,379

 

Sarepta Therapeutics

   

1,005,959

a 

78,203,253

 

Twist Bioscience

   

372,854

a 

49,682,796

 

Ultragenyx Pharmaceutical

   

386,456

a 

36,848,580

 

uniQure

   

351,589

a,b 

10,828,941

 

Zogenix

   

1,300,446

a,b 

22,471,707

 
    

806,405,911

 

Real Estate - 1.5%

     

Americold Realty Trust

   

893,400

b,c 

33,815,190

 

Redfin

   

691,290

a,b 

43,834,699

 
    

77,649,889

 

Retailing - 2.6%

     

Farfetch, Cl. A

   

593,479

a 

29,887,602

 

National Vision Holdings

   

1,313,953

a,b 

67,182,417

 

Ollie's Bargain Outlet Holdings

   

443,971

a,b 

37,351,280

 
    

134,421,299

 

Semiconductors & Semiconductor Equipment - 2.3%

     

Power Integrations

   

626,337

 

51,397,214

 

Semtech

   

986,673

a 

67,883,102

 
    

119,280,316

 

Software & Services - 20.6%

     

Affirm Holdings

   

411,160

a,b 

27,691,626

 

Bill.com Holdings

   

293,196

a 

53,707,643

 

DocuSign

   

196,896

a 

55,046,215

 

Euronet Worldwide

   

503,426

a 

68,138,709

 

Everbridge

   

492,165

a,b 

66,973,813

 

HubSpot

   

237,788

a 

138,563,823

 

Marqeta, CI. A

   

19,905

a 

558,733

 

Medallia

   

1,845,855

a,b 

62,297,606

 

nCino

   

422,797

a,b 

25,333,996

 

Proofpoint

   

132,588

a 

23,038,491

 

Rapid7

   

1,021,700

a,b 

96,683,471

 

Shift4 Payments, Cl. A

   

593,896

a,b 

55,659,933

 

Splunk

   

362,448

a 

52,402,732

 

Square, Cl. A

   

442,074

a 

107,777,641

 

Twilio, Cl. A

   

405,506

a 

159,834,245

 

Zendesk

   

510,241

a,b 

73,648,186

 
    

1,067,356,863

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 94.3% (continued)

     

Technology Hardware & Equipment - 3.5%

     

Calix

   

405,343

a 

19,253,793

 

Cognex

   

264,108

 

22,198,277

 

Lumentum Holdings

   

662,497

a,b 

54,344,629

 

nLight

   

798,132

a 

28,956,229

 

Trimble

   

333,856

a 

27,319,437

 

Zebra Technologies, Cl. A

   

50,138

a 

26,547,570

 
    

178,619,935

 

Telecommunication Services - 1.8%

     

Bandwidth, Cl. A

   

672,427

a,b 

92,741,132

 

Transportation - 3.4%

     

Lyft, Cl. A

   

2,931,961

a,b 

177,325,001

 

Total Common Stocks (cost $3,111,095,539)

   

4,872,123,037

 
        

Exchange-Traded Funds - .5%

     

Registered Investment Companies - .5%

     

iShares Russell 2000 Growth ETF
(cost $11,852,287)

   

81,919

b 

25,533,333

 
  

1-Day
Yield (%)

     

Investment Companies - 5.2%

     

Registered Investment Companies - 5.2%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares
(cost $270,787,636)

 

0.05

 

270,787,636

d 

270,787,636

 
        

Investment of Cash Collateral for Securities Loaned - 1.6%

     

Registered Investment Companies - 1.6%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, SL Shares
(cost $80,872,475)

 

0.01

 

80,872,475

d 

80,872,475

 

Total Investments (cost $3,474,607,937)

 

101.6%

 

5,249,316,481

 

Liabilities, Less Cash and Receivables

 

(1.6%)

 

(80,718,346)

 

Net Assets

 

100.0%

 

5,168,598,135

 

ADR—American Depository Receipt

ETF—Exchange-Traded Fund

a Non-income producing security.

b Security, or portion thereof, on loan. At June 30, 2021, the value of the fund’s securities on loan was $611,651,207 and the value of the collateral was $631,003,292, consisting of cash collateral of $80,872,475 and U.S. Government & Agency securities valued at $550,130,817.

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 Small/Mid Cap Growth 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

2,959,859,263

-

 

-

2,959,859,263

Exchange-Traded Funds

26,341,171

-

 

-

26,341,171

Investment Companies

125,242,012

-

 

-

125,242,012

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 June 30, 2021, accumulated net unrealized appreciation on investments was $1,774,708,544, consisting of $1,884,434,162 gross unrealized appreciation and $109,725,618 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.