NPORT-P
		false
		
			
			
				
					0000053808
					XXXXXXXX
				
			
			
			
			
				S000018029
				C000049945
				C000049946
				C000049947
				C000130468
			
			
			
		
	
	
		
			BNY Mellon Investment Funds III
			811-00524
			0000053808
			549300DOYFL5R4I71F16
			240 Greenwich Street
			New York
			
			10286
			212 495 1784
			BNY Mellon Global Equity Income Fund
			S000018029
			549300YDM1PXRAWO0B11
			2021-10-31
			2021-07-31
			N
		
		
			309104741.22
			399575.08
			308705166.14
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			78299.40
			N
			
				
					
					
					
					
				
				
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
				
				
				
				
			
			
			
			
		
		
			
				BRITISH AMERICAN TOBACCO PLC
				213800FKA5MF17RJKT63
				BRITISH AMERICAN TOBACCO PLC
				110448107
				
					
					
				
				59404.00
				NS
				USD
				2224679.80
				0.7206487108126
				Long
				EC
				CORP
				GB
				
				N
				
				1
				
					N
					N
					N
				
			
			
				EMERSON ELECTRIC CO
				FGLT0EWZSUIRRITFOA30
				EMERSON ELECTRIC CO
				291011104
				
					
					
				
				80248.00
				NS
				USD
				8096220.72
				2.6226385587367
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				TOTALENERGIES SE
				529900S21EQ1BO4ESM68
				TOTALENERGIES SE
				N/A
				
					
					
				
				79556.00
				NS
				
				3469076.53
				1.1237507209149
				Long
				EC
				CORP
				FR
				
				N
				
				2
				
					N
					N
					N
				
			
			
				EVERSOURCE ENERGY
				SJ7XXD41SQU3ZNWUJ746
				EVERSOURCE ENERGY
				30040W108
				
					
					
				
				79499.00
				NS
				USD
				6858378.73
				2.2216598496734
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				MERCK & CO INC
				4YV9Y5M8S0BRK1RP0397
				MERCK & CO INC
				58933Y105
				
					
					
				
				98921.00
				NS
				USD
				7604057.27
				2.4632102420182
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				NOVARTIS AG
				5493007HIVTX6SY6XD66
				NOVARTIS AG
				N/A
				
					
					
				
				92612.00
				NS
				
				8566220.23
				2.7748872288438
				Long
				EC
				CORP
				CH
				
				N
				
				2
				
					N
					N
					N
				
			
			
				PHILIP MORRIS INTERNATIONAL INC
				HL3H1H2BGXWVG3BSWR90
				PHILIP MORRIS INTERNATIONAL INC
				718172109
				
					
					
				
				50903.00
				NS
				USD
				5094881.27
				1.6504036306569
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				VERIZON COMMUNICATIONS
				2S72QS2UO2OESLG6Y829
				VERIZON COMMUNICATIONS INC
				92343V104
				
					
					
				
				50064.00
				NS
				USD
				2792569.92
				0.904607446295
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				CMS ENERGY CORP
				549300IA9XFBAGNIBW29
				CMS ENERGY CORP
				125896100
				
					
					
				
				121451.00
				NS
				USD
				7504457.29
				2.4309464541311
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				PING AN INSURANCE GROUP CO OF CHINA LTD
				529900M9MC28JLN35U89
				PING AN INSURANCE GROUP CO OF CHINA LTD
				N/A
				
					
					
				
				433500.00
				NS
				
				3805122.16
				1.2326072179415
				Long
				EC
				CORP
				CN
				
				N
				
				2
				
					N
					N
					N
				
			
			
				KDDI CORP
				5299003FU7V4I45FU310
				KDDI CORP
				N/A
				
					
					
				
				175400.00
				NS
				
				5352878.11
				1.7339774960463
				Long
				EC
				CORP
				JP
				
				N
				
				2
				
					N
					N
					N
				
			
			
				FERGUSON PLC
				213800DU1LGY3R2S2X42
				FERGUSON PLC
				N/A
				
					
					
				
				26625.00
				NS
				
				3732368.06
				1.2090397147119
				Long
				EC
				CORP
				JE
				
				N
				
				2
				
					N
					N
					N
				
			
			
				CITIGROUP INC
				6SHGI4ZSSLCXXQSBB395
				CITIGROUP INC
				172967424
				
					
					
				
				85526.00
				NS
				USD
				5783268.12
				1.8733953151199
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				INDUSTRIA DE DISENO TEXTIL SA
				549300TTCXZOGZM2EY83
				INDUSTRIA DE DISENO TEXTIL SA
				N/A
				
					
					
				
				171903.00
				NS
				
				5832327.14
				1.8892871839258
				Long
				EC
				CORP
				ES
				
				N
				
				2
				
					N
					N
					N
				
			
			
				SVENSKA HANDELSBANKEN AB
				NHBDILHZTYCNBV5UYZ31
				SVENSKA HANDELSBANKEN AB
				N/A
				
					
					
				
				549884.00
				NS
				
				6208004.96
				2.010981882041
				Long
				EC
				CORP
				SE
				
				N
				
				2
				
					N
					N
					N
				
			
			
				BAYER AG
				549300J4U55H3WP1XT59
				BAYER AG
				N/A
				
					
					
				
				107805.00
				NS
				
				6429508.16
				2.082734228388
				Long
				EC
				CORP
				DE
				
				N
				
				2
				
					N
					N
					N
				
			
			
				TEXAS INSTRUMENTS INC
				WDJNR2L6D8RWOEB8T652
				TEXAS INSTRUMENTS INC
				882508104
				
					
					
				
				35919.00
				NS
				USD
				6846879.78
				2.2179349525025
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				CONTINENTAL AG
				529900A7YD9C0LLXM621
				CONTINENTAL AG
				N/A
				
					
					
				
				38715.00
				NS
				
				5261755.34
				1.7044597619768
				Long
				EC
				CORP
				DE
				
				N
				
				2
				
					N
					N
					N
				
			
			
				RELX PLC
				549300WSX3VBUFFJOO66
				RELX PLC
				N/A
				
					
					
				
				355405.00
				NS
				
				10439611.47
				3.3817417442458
				Long
				EC
				CORP
				GB
				
				N
				
				2
				
					N
					N
					N
				
			
			
				CME GROUP INC
				LCZ7XYGSLJUHFXXNXD88
				CME GROUP INC
				12572Q105
				
					
					
				
				29782.00
				NS
				USD
				6317655.66
				2.046501436628
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				INFORMA PLC
				5493006VM2LKUPSEDU20
				INFORMA PLC
				N/A
				
					
					
				
				901503.00
				NS
				
				6198815.40
				2.0080050740675
				Long
				EC
				CORP
				GB
				
				N
				
				2
				
					N
					N
					N
				
			
			
				SANOFI
				549300E9PC51EN656011
				SANOFI
				N/A
				
					
					
				
				67251.00
				NS
				
				6930088.11
				2.2448889329105
				Long
				EC
				CORP
				FR
				
				N
				
				2
				
					N
					N
					N
				
			
			
				NESTLE SA
				KY37LUS27QQX7BB93L28
				NESTLE SA
				N/A
				
					
					
				
				46951.00
				NS
				
				5949327.86
				1.9271876575275
				Long
				EC
				CORP
				CH
				
				N
				
				2
				
					N
					N
					N
				
			
			
				PROCTER & GAMBLE CO/THE
				2572IBTT8CCZW6AU4141
				PROCTER & GAMBLE CO/THE
				742718109
				
					
					
				
				37575.00
				NS
				USD
				5344292.25
				1.7311962468345
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				PAYCHEX INC
				529900K900DW6SUBM174
				PAYCHEX INC
				704326107
				
					
					
				
				57863.00
				NS
				USD
				6585966.66
				2.1334164058055
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				LINK REIT
				529900XUE70U36QX5M62
				LINK REIT
				N/A
				
					
					
				
				416500.00
				NS
				
				3985017.56
				1.2908813965856
				Long
				EC
				CORP
				HK
				
				N
				
				2
				
					N
					N
					N
				
			
			
				ROCHE HOLDING AG
				549300U41AUUVOAAOB37
				ROCHE HOLDING AG
				N/A
				
					
					
				
				26997.00
				NS
				
				10439802.47
				3.3818036155784
				Long
				EC
				CORP
				CH
				
				N
				
				2
				
					N
					N
					N
				
			
			
				BAE SYSTEMS PLC
				8SVCSVKSGDWMW2QHOH83
				BAE SYSTEMS PLC
				N/A
				
					
					
				
				916759.00
				NS
				
				7337465.70
				2.3768522541253
				Long
				EC
				CORP
				GB
				
				N
				
				2
				
					N
					N
					N
				
			
			
				ZURICH INSURANCE GROUP AG
				529900QVNRBND50TXP03
				ZURICH INSURANCE GROUP AG
				N/A
				
					
					
				
				14822.00
				NS
				
				5974868.06
				1.9354609884598
				Long
				EC
				CORP
				CH
				
				N
				
				2
				
					N
					N
					N
				
			
			
				PRINCIPAL FINANCIAL GROUP INC
				CUMYEZJOAF02RYZ1JJ85
				PRINCIPAL FINANCIAL GROUP INC
				74251V102
				
					
					
				
				76197.00
				NS
				USD
				4734119.61
				1.5335407791177
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				UNILEVER PLC
				549300MKFYEKVRWML317
				UNILEVER PLC
				N/A
				
					
					
				
				159198.00
				NS
				
				9167334.54
				2.9696083984038
				Long
				EC
				CORP
				GB
				
				N
				
				2
				
					N
					N
					N
				
			
			
				ROYAL DUTCH SHELL PLC
				21380068P1DRHMJ8KU70
				ROYAL DUTCH SHELL PLC
				N/A
				
					
					
				
				157906.00
				NS
				
				3207764.83
				1.0391030607324
				Long
				EC
				CORP
				GB
				
				N
				
				2
				
					N
					N
					N
				
			
			
				INFOSYS LTD
				335800TYLGG93MM7PR89
				INFOSYS LTD
				456788108
				
					
					
				
				526465.00
				NS
				USD
				11645405.80
				3.7723391369222
				Long
				EC
				CORP
				IN
				
				N
				
				1
				
					N
					N
					N
				
			
			
				BRITISH AMERICAN TOBACCO PLC
				213800FKA5MF17RJKT63
				BRITISH AMERICAN TOBACCO PLC
				N/A
				
					
					
				
				169571.00
				NS
				
				6320703.62
				2.0474887735223
				Long
				EC
				CORP
				GB
				
				N
				
				2
				
					N
					N
					N
				
			
			
				PEPSICO INC
				FJSUNZKFNQ5YPJ5OT455
				PEPSICO INC
				713448108
				
					
					
				
				67578.00
				NS
				USD
				10606367.10
				3.4357595088609
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				CISCO SYSTEMS INC
				8E6NF1YAL0WT6CWXXV93
				CISCO SYSTEMS INC
				17275R102
				
					
					
				
				267895.00
				NS
				USD
				14833346.15
				4.8050203809264
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				MACQUARIE KOREA INFRASTRUCTURE FUND
				N/A
				MACQUARIE KOREA INFRASTRUCTURE FUND
				N/A
				
					
					
				
				135699.00
				NS
				
				1451294.42
				0.4701231398705
				Long
				EC
				CORP
				KR
				
				N
				
				2
				
					N
					N
					N
				
			
			
				CIE FINANCIERE RICHEMONT SA
				549300YIPGJ6UX2QPS51
				CIE FINANCIERE RICHEMONT SA
				N/A
				
					
					
				
				64265.00
				NS
				
				8230959.61
				2.6662850229941
				Long
				EC
				CORP
				CH
				
				N
				
				2
				
					N
					N
					N
				
			
			
				CIE FINANCIERE RICHEMONT SA
				549300YIPGJ6UX2QPS51
				CIE FINANCIERE RICHEMONT SA
				N/A
				
					
					
				
				188850.00
				NC
				
				137595.63
				0.0445718585537
				Long
				DE
				
				CH
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Call
						Purchased
						
							
								CIE FINANCIERE RICHEMONT SA
								CIE FINANCIERE RICHEMONT SA
								
									
									
									
								
							
						
						1.00
						0.00
						CHF
						2023-11-22
						XXXX
						137595.63
					
				
				
					N
					N
					N
				
			
			
				HOME DEPOT INC/THE
				QEKMOTMBBKA8I816DO57
				HOME DEPOT INC/THE
				437076102
				
					
					
				
				12765.00
				NS
				USD
				4189345.35
				1.3570700491938
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				INSURANCE AUSTRALIA GROUP LTD
				549300PFEWKNHRG25N08
				INSURANCE AUSTRALIA GROUP LTD
				N/A
				
					
					
				
				929404.00
				NS
				
				3318282.76
				1.0749035403233
				Long
				EC
				CORP
				AU
				
				N
				
				2
				
					N
					N
					N
				
			
			
				SAMSUNG ELECTRONICS CO LTD
				9884007ER46L6N7EI764
				SAMSUNG ELECTRONICS CO LTD
				N/A
				
					
					
				
				152659.00
				NS
				
				9582831.23
				3.1042017695467
				Long
				EP
				CORP
				KR
				
				N
				
				2
				
					N
					N
					N
				
			
			
				SAGE GROUP PLC/THE
				2138005RN5XYLTF8G138
				SAGE GROUP PLC/THE
				N/A
				
					
					
				
				422036.00
				NS
				
				4114508.12
				1.3328277500008
				Long
				EC
				CORP
				GB
				
				N
				
				2
				
					N
					N
					N
				
			
			
				BUNZL PLC
				213800Q1Q9DV4L78UM09
				BUNZL PLC
				N/A
				
					
					
				
				138853.00
				NS
				
				5144260.22
				1.6663991355645
				Long
				EC
				CORP
				GB
				
				N
				
				2
				
					N
					N
					N
				
			
			
				JPMORGAN CHASE & CO
				8I5DZWZKVSZI1NUHU748
				JPMORGAN CHASE & CO
				46625H100
				
					
					
				
				47849.00
				NS
				USD
				7262521.22
				2.3525752130453
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				VOLKSWAGEN AG
				529900NNUPAGGOMPXZ31
				VOLKSWAGEN AG
				N/A
				
					
					
				
				18208.00
				NS
				
				4443193.43
				1.4392999914957
				Long
				EP
				CORP
				DE
				
				N
				
				2
				
					N
					N
					N
				
			
			
				MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG IN MUENCHEN
				529900MUF4C20K50JS49
				MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG IN MUENCHEN
				N/A
				
					
					
				
				21589.00
				NS
				
				5838533.16
				1.8912975228124
				Long
				EC
				CORP
				DE
				
				N
				
				2
				
					N
					N
					N
				
			
			
				ORGANON & CO
				549300AMCKY57OK2CO56
				ORGANON & CO
				68622V106
				
					
					
				
				9892.00
				NS
				USD
				286966.92
				0.0929582499665
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				QUALCOMM INC
				H1J8DDZKZP6H7RWC0H53
				QUALCOMM INC
				747525103
				
					
					
				
				42827.00
				NS
				USD
				6415484.60
				2.0781915250133
				Long
				EC
				CORP
				US
				
				N
				
				1
				
					N
					N
					N
				
			
			
				TAYLOR WIMPEY PLC
				21380089BTRXTD8S3R66
				TAYLOR WIMPEY PLC
				N/A
				
					
					
				
				1679225.00
				NS
				
				3839057.68
				1.2436000757625
				Long
				EC
				CORP
				GB
				
				N
				
				2
				
					N
					N
					N
				
			
			
				DREYFUS INSTITUTIONAL PREFERRE
				549300RBWL04JG8SIX57
				Dreyfus Institutional Preferred Government Plus Money Market Fund
				N/A
				
					
					
				
				3410117.97
				OU
				Other Units
				USD
				3410117.97
				1.1046520577026
				Long
				STIV
				RF
				US
				
				N
				
				1
				
					2099-12-01
					Variable
					0.05358
					N
					N
					N
				
				
					N
					N
					N
				
			
			
				99VVB9HH4
				N/A
				DREYFUS INST PREF GOVT PLUS MMF - SL #4134
				99VVB9HH4
				
					
					
				
				0.60
				OU
				Other Units
				USD
				0.60
				0.0000001943602
				Long
				
				RF
				US
				
				N
				1
				
					
					N
					N
				
			
		
		
			2021-09-27
			BNY Mellon Advantage Funds, Inc.
			James Windels
			James Windels
			Fund Treasurer
		
	
	XXXX




Untitled Document

STATEMENT OF INVESTMENTS
BNY Mellon Global Equity Income Fund

July 31, 2021 (Unaudited)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 93.5%

     

Australia - 1.1%

     

Insurance Australia Group

   

929,404

 

 3,318,283

 

China - 1.5%

     

Ping An Insurance Group Company of China, Cl. H

   

539,500

 

 4,735,556

 

France - 3.4%

     

Sanofi

   

67,251

 

6,930,088

 

TotalEnergies

   

79,556

 

3,469,077

 
    

10,399,165

 

Germany - 5.7%

     

Bayer

   

107,805

 

6,429,508

 

Continental

   

38,715

 

5,261,755

 

Muenchener Rueckversicherungs-Gesellschaft

   

21,589

 

5,838,533

 
    

17,529,796

 

Hong Kong - 1.3%

     

Link REIT

   

416,500

 

 3,985,018

 

India - 3.8%

     

Infosys, ADR

   

526,465

 

 11,645,406

 

Japan - 1.7%

     

KDDI

   

175,400

 

 5,352,878

 

Netherlands - 1.0%

     

Royal Dutch Shell, Cl. A

   

157,906

 

 3,207,765

 

South Korea - .5%

     

Macquarie Korea Infrastructure Fund

   

135,699

 

 1,451,294

 

Spain - 1.9%

     

Industria de Diseno Textil

   

171,903

 

 5,832,327

 

Sweden - 2.0%

     

Svenska Handelsbanken, Cl. A

   

549,884

 

 6,208,005

 

Switzerland - 12.7%

     

Cie Financiere Richemont, CI. A

   

64,265

 

8,230,960

 

Nestle

   

46,951

 

5,949,328

 

Novartis

   

92,612

 

8,566,220

 

Roche Holding

   

26,997

 

10,439,802

 

Zurich Insurance Group

   

14,822

 

5,974,868

 
    

39,161,178

 

United Kingdom - 19.0%

     

BAE Systems

   

916,759

 

7,337,466

 

British American Tobacco

   

169,571

 

6,320,704

 

British American Tobacco, ADR

   

59,404

 

2,224,680

 

Bunzl

   

138,853

 

5,144,260

 


STATEMENT OF INVESTMENTS (Unaudited) (continued)

        
 

Description

   

Shares

 

Value ($)

 

Common Stocks - 93.5% (continued)

     

United Kingdom - 19.0% (continued)

     

Ferguson

   

26,625

 

3,732,368

 

Informa

   

901,503

a 

6,198,815

 

RELX

   

355,405

 

10,439,611

 

Taylor Wimpey

   

1,714,665

 

3,920,081

 

The Sage Group

   

422,036

 

4,114,508

 

Unilever

   

159,198

 

9,167,335

 
    

58,599,828

 

United States - 37.9%

     

Cisco Systems

   

267,895

 

14,833,346

 

Citigroup

   

85,526

 

5,783,268

 

CME Group

   

29,782

 

6,317,656

 

CMS Energy

   

121,451

 

7,504,457

 

Emerson Electric

   

80,248

 

8,096,221

 

Eversource Energy

   

79,499

 

6,858,379

 

JPMorgan Chase & Co.

   

47,849

 

7,262,521

 

Merck & Co.

   

98,921

 

7,604,057

 

Organon & Co.

   

9,892

a 

286,967

 

Paychex

   

57,863

 

6,585,967

 

PepsiCo

   

67,578

 

10,606,367

 

Philip Morris International

   

50,903

 

5,094,881

 

Principal Financial Group

   

76,197

 

4,734,120

 

Qualcomm

   

42,827

 

6,415,485

 

Texas Instruments

   

35,919

 

6,846,880

 

The Home Depot

   

12,765

 

4,189,345

 

The Procter & Gamble Company

   

37,575

 

5,344,292

 

Verizon Communications

   

50,064

 

2,792,570

 
    

117,156,779

 

Total Common Stocks (cost $203,921,050)

   

288,583,278

 
  

Preferred Dividend
Yield (%)

     

Preferred Stocks - 4.5%

     

Germany - 1.4%

     

Volkswagen

 

2.41

 

18,208

 

 4,443,193

 

South Korea - 3.1%

     

Samsung Electronics

 

4.35

 

152,659

 

 9,582,831

 

Total Preferred Stocks (cost $9,499,547)

   

14,026,024

 
  

Maturity
Date

 

Number of Warrants

   

Warrants - .1%

     

Switzerland - .1%

     

Cie Financiere Richemont
(cost $0)

 

11/22/2023

 

188,850

 

 137,596

 


        
 
  

1-Day
Yield (%)

     

Investment Companies - 1.1%

     

Registered Investment Companies - 1.1%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares
(cost $3,410,118)

 

0.05

 

3,410,118

b 

 3,410,118

 

Total Investments (cost $216,830,715)

 

99.2%

 

306,157,016

 

Cash and Receivables (Net)

 

.8%

 

2,548,150

 

Net Assets

 

100.0%

 

308,705,166

 

ADR—American Depository Receipt

REIT—Real Estate Investment Trust

a Non-income producing security.

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.


STATEMENT OF INVESTMENTS
BNY Mellon Global Equity Income Fund

July 31, 2021 (Unaudited)

The following is a summary of the inputs used as of July 31, 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

131,026,865

157,556,413

†† 

-

288,583,278

Equity Securities - Preferred Stocks

-

14,026,024

†† 

-

14,026,024

Investment Companies

3,410,118

-

 

-

3,410,118

Warrants

137,596

-

 

-

137,596

Liabilities ($)

     

Other Financial Instruments:

     

Forward Foreign Currency Exchange Contracts†††

-

(211)

 

-

(211)

      

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.

††† Amount shown represents unrealized appreciation (depreciation) at period end.


STATEMENT OF FORWRAD FOREIGN CURRENCY EXCHANGE CONTRACTS
BNY Mellon Global Equity Income Fund

July 31, 2021 (Unaudited)

      

Counterparty/ Purchased
Currency

Purchased Currency
Amounts

Currency
Sold

Sold
Currency
Amounts

Settlement Date

Unrealized (Depreciation) ($)

HSBC

British Pound

34,022

United States Dollar

47,502

8/2/2021

(211)

Gross Unrealized Depreciation

  

(211)

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. 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.

Financial futures and options, which are traded on an exchange, are valued at the last sales price on the securities exchange on which such securities are primarily traded or at the last sales price on the national securities market on each business day and are generally categorized within Level 1 of the fair value hierarchy. Options traded over-the-counter (“OTC”) are valued at the mean between the bid and asked price and are generally categorized within Level 2 of the fair value hierarchy. Investments in swap transactions are valued each business day by the Service. Swaps are valued by the Service by using a swap pricing model which incorporates among other factors, default probabilities, recovery rates, credit curves of the underlying issuer and swap spreads on


interest rates and are generally categorized within Level 2 of the fair value hierarchy. 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 July 31, 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 July 31, 2021, accumulated net unrealized appreciation on investments was $89,326,301, consisting of $96,055,414 gross unrealized appreciation and $6,729,113 gross unrealized depreciation.

At July 31, 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.