NPORT-EX 2 c1022700bnymel-february20211.htm Untitled Document

STATEMENT OF INVESTMENTS
BNY Mellon Emerging Markets Securities Fund

February 28, 2021 (Unaudited)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 96.8%

     

Brazil - 2.6%

     

Banco do Brasil

   

72,300

 

364,067

 

Cyrela Brazil Realty Empreendimentos e Participacoes

   

131,300

 

577,521

 

EDP - Energias do Brasil

   

174,500

 

562,341

 

Minerva

   

298,900

 

520,550

 

Petroleo Brasileiro, ADR

   

45,444

 

360,371

 
    

2,384,850

 

China - 36.9%

     

Agile Group Holdings

   

304,000

 

429,557

 

Agricultural Bank of China, Cl. H

   

1,596,000

 

580,255

 

Alibaba Group Holding, ADR

   

22,914

a

5,448,033

 

Anhui Conch Cement, Cl. H

   

130,000

 

836,336

 

China Construction Bank, Cl. H

   

2,489,399

 

1,999,491

 

China Galaxy Securities, Cl. H

   

1,018,500

 

628,975

 

China Minsheng Banking, Cl. H

   

1,040,500

 

621,098

 

China Shenhua Energy, Cl. H

   

604,000

 

1,147,814

 

China Yangtze Power, Cl. A

   

187,100

 

572,016

 

Cosco Shipping Holdings, Cl. H

   

390,000

a

433,420

 

ENN Energy Holdings

   

79,100

a

1,212,538

 

Industrial Bank, Cl. A

   

128,700

 

491,690

 

Jointown Pharmaceutical Group, CI. A

   

122,800

a

320,687

 

Meituan, Cl. B

   

39,600

a,b

1,735,846

 

New China Life Insurance, Cl. H

   

137,800

 

525,869

 

PICC Property & Casualty, Cl. H

   

524,000

 

396,558

 

Ping An Insurance Group Company of China, Cl. H

   

114,500

 

1,406,810

 

Shanghai Pharmaceuticals Holding, Cl. H

   

347,500

 

637,076

 

Sinotruk Hong Kong

   

168,000

 

536,070

 

Tencent Holdings

   

124,150

a

10,603,997

 

Times China Holdings

   

325,000

a

490,237

 

Tingyi Cayman Islands Holding

   

334,000

 

670,889

 

Weichai Power, Cl. H

   

214,000

 

626,292

 

Wuliangye Yibin, Cl. A

   

10,400

 

450,774

 

Zoomlion Heavy Industry Science & Technology, Cl. A

   

309,900

 

689,839

 
    

33,492,167

 

Hong Kong - 1.4%

     

Bosideng International Holdings

   

1,260,000

 

531,197

 

China Overseas Land & Investment

   

95,500

 

241,814

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 96.8% (continued)

     

Hong Kong - 1.4% (continued)

     

SITC International Holdings

   

203,000

 

533,904

 
    

1,306,915

 

Hungary - .8%

     

Richter Gedeon

   

26,323

 

750,819

 

India - 8.4%

     

ACC

   

30,224

 

712,856

 

Adani Ports & Special Economic Zone

   

68,367

a

628,826

 

Amara Raja Batteries

   

43,541

 

522,687

 

HCL Technologies

   

50,932

 

630,334

 

Hero MotoCorp

   

12,080

 

529,985

 

Infosys

   

31,722

 

541,024

 

LIC Housing Finance

   

97,897

 

572,182

 

Motherson Sumi Systems

   

319,732

a

931,110

 

Petronet LNG

   

156,291

 

542,664

 

REC

   

274,146

 

505,502

 

Shriram Transport Finance

   

52,484

 

916,301

 

UPL

   

76,833

 

587,134

 
    

7,620,605

 

Indonesia - .7%

     

Indofood Sukses Makmur

   

1,441,400

 

612,393

 

Malaysia - .4%

     

Top Glove

   

298,500

 

386,446

 

Mexico - 1.2%

     

America Movil, ADR, Cl. L

   

45,188

 

573,888

 

Gruma, Cl. B

   

51,075

 

556,622

 
    

1,130,510

 

Philippines - .7%

     

International Container Terminal Services

   

257,160

a

635,480

 

Poland - .6%

     

Polskie Gornictwo Naftowe i Gazownictwo

   

340,805

 

509,275

 

Russia - 3.5%

     

Lukoil

   

19,645

 

1,476,851

 

Sberbank of Russia

   

347,332

 

1,258,294

 

X5 Retail Group, GDR

   

14,221

 

462,182

 
    

3,197,327

 

Saudi Arabia - 1.0%

     

Abdullah Al Othaim Markets

   

12,926

 

421,159

 

Jarir Marketing

   

10,122

 

461,502

 
    

882,661

 

South Africa - 4.5%

     

Impala Platinum Holdings

   

71,055

 

1,155,523

 

Mediclinic International

   

145,286

a

577,685

 


        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 96.8% (continued)

     

South Africa - 4.5% (continued)

     

Sibanye Stillwater

   

504,114

 

2,332,792

 
    

4,066,000

 

South Korea - 13.0%

     

DB Insurance

   

15,311

 

564,197

 

Hana Financial Group

   

17,012

 

561,010

 

Hyundai Mobis

   

7,364

 

1,986,019

 

KB Financial Group

   

16,965

 

661,386

 

Korea Investment Holdings

   

8,169

 

634,761

 

LG Electronics

   

9,989

 

1,302,526

 

POSCO, ADR

   

14,515

 

886,866

 

Samsung Electronics

   

62,241

 

4,570,434

 

Shinhan Financial Group

   

22,127

 

648,940

 
    

11,816,139

 

Taiwan - 17.6%

     

Chailease Holding

   

322,445

 

1,991,223

 

Chicony Electronics

   

231,000

a

777,948

 

Evergreen Marine

   

436,000

a

594,065

 

MediaTek

   

79,000

 

2,541,388

 

Taiwan Semiconductor Manufacturing

   

461,638

 

10,044,076

 
    

15,948,700

 

Thailand - 1.0%

     

Advanced Info Service

   

81,600

 

448,143

 

Thanachart Capital

   

383,100

 

413,166

 
    

861,309

 

Turkey - 1.8%

     

BIM Birlesik Magazalar

   

72,190

 

642,510

 

Eregli Demir ve Celik Fabrikalari

   

490,199

 

963,006

 
    

1,605,516

 

United Arab Emirates - .7%

     

Dubai Islamic Bank

   

468,297

a

605,587

 

Total Common Stocks (cost $58,230,599)

   

87,812,699

 
        

Exchange-Traded Funds - 1.1%

     

United States - 1.1%

     

iShares MSCI Emerging Markets ETF
(cost $814,507)

   

17,742

 

953,278

 
  

Preferred Dividend
Yield (%)

     

Preferred Stocks - 1.1%

     

Brazil - 1.1%

     

Banco do Estado do Rio Grande do Sul, Cl. B

 

5.31

 

247,500

 

562,199

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

        
 

Description

 

Preferred Dividend
Yield (%)

 

Shares

 

Value ($)

 

Preferred Stocks - 1.1% (continued)

     

Brazil - 1.1% (continued)

     

Cia Energetica de Minas Gerais

 

4.91

 

186,800

 

400,319

 

Total Preferred Stocks (cost $1,187,194)

   

962,518

 
  

1-Day
Yield (%)

     

Investment Companies - .5%

     

Registered Investment Companies - .5%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares
(cost $459,969)

 

0.07

 

459,969

c

459,969

 

Total Investments (cost $60,692,269)

 

99.5%

 

90,188,464

 

Cash and Receivables (Net)

 

.5%

 

485,261

 

Net Assets

 

100.0%

 

90,673,725

 

ADR—American Depository Receipt

ETF—Exchange-Traded Fund

GDR—Global 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 February 28, 2021, these securities were valued at $1,735,846 or 1.91% 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 Emerging Markets Securities Fund

February 28, 2021 (Unaudited)

The following is a summary of the inputs used as of February 28, 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

85,077,554

2,735,145††

-

87,812,699

Equity Securities - Preferred Stocks

962,518

-

-

962,518

Exchange-Traded Funds

953,278

-

-

953,278

Investment Companies

459,969

-

-

459,969

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

†† Securities classified within Level 2 at period end as the values were determined pursuant to the fund’s fair valuation procedures.


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 Securities and Exchange Commission (“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.

At February 28, 2021, accumulated net unrealized appreciation on investments was $29,496,195, consisting of $32,406,551 gross unrealized appreciation and $2,910,356 gross unrealized depreciation.

At February 28, 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.