NPORT-P false 0000819940 XXXXXXXX S000000305 C000000759 C000000761 C000023266 BNY Mellon Investment Funds IV, Inc. 811-05202 0000819940 549300D4NK7TLHD8CY27 240 Greenwich Street New York 10286 212 495 1784 BNY Mellon Tax Managed Growth Fund S000000305 549300QYV32WIBQ3JX02 2021-10-31 2021-07-31 N 154710305.99 148954.15 154561351.84 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 0.00 UST PROGRESSIVE CORP/THE 529900TACNVLY9DCR586 PROGRESSIVE CORP/THE 743315103 25550.00 NS USD 2431338.00 1.5730568936255 Long EC CORP US N 1 N N N S&P GLOBAL INC Y6X4K52KMJMZE7I7MY94 S&P GLOBAL INC 78409V104 4000.00 NS USD 1714880.00 1.1095141052953 Long EC CORP US N 1 N N N RAYTHEON TECHNOLOGIES CORP I07WOS4YJ0N7YRFE7309 RAYTHEON TECHNOLOGIES CORP 75513E101 12130.00 NS USD 1054703.50 0.6823850124524 Long EC CORP US N 1 N N N MASTERCARD INC AR5L2ODV9HN37376R084 MASTERCARD INC 57636Q104 4050.00 NS USD 1563057.00 1.0112857977704 Long EC CORP US N 1 N N N INTUIT INC VI90HBPH7XSFMB9E4M29 INTUIT 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DREYFUS INST PREF GOVT PLUS MMF - SL #4134 99VVB9HH4 0.04 OU Other Units USD 0.04 0.0000000258796 Long RF US N 1 N N 2021-09-27 BNY Mellon Advantage Funds, Inc. James Windels James Windels Fund Treasurer XXXX
BNY Mellon Tax Managed Growth Fund
July 31, 2021 (Unaudited)
Common Stocks - 98.9%
Banks - 2.2%
JPMorgan Chase & Co.
Capital Goods - 1.1%
Commercial & Professional Services - 1.7%
Consumer Durables & Apparel - 1.6%
NIKE, Cl. B
Consumer Services - 3.3%
Marriott International, Cl. A
Diversified Financials - 5.9%
Energy - 1.2%
Food, Beverage & Tobacco - 8.0%
Philip Morris International
The Coca-Cola Company
Health Care Equipment & Services - 6.9%
Household & Personal Products - 4.8%
The Estee Lauder Companies, Cl. A
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Common Stocks - 98.9% (continued)
Insurance - 1.6%
Materials - 3.1%
Air Products & Chemicals
The Sherwin-Williams Company
Media & Entertainment - 14.2%
Alphabet, Cl. C
Comcast, Cl. A
Facebook, Cl. A
The Walt Disney Company
Pharmaceuticals Biotechnology & Life Sciences - 3.2%
Novo Nordisk, ADR
Roche Holding, ADR
Retailing - 4.7%
Semiconductors & Semiconductor Equipment - 8.2%
Software & Services - 17.3%
Automatic Data Processing
Mastercard, Cl. A
Visa, Cl. A
Technology Hardware & Equipment - 7.3%
Transportation - 2.6%
Canadian Pacific Railway
Total Common Stocks (cost $47,231,556)
Investment Companies - 1.1%
Registered Investment Companies - 1.1%
Dreyfus Institutional Preferred Government
Plus Money Market Fund, Institutional Shares
Total Investments (cost $48,965,460)
Cash and Receivables (Net)
ADR—American Depository Receipt
a Non-income producing security.
b Security, or portion thereof, on loan. At July 31, 2021, the value of the fund’s securities on loan was $5,732,263 and the value of the collateral was $5,883,259, consisting of U.S. Government & Agency securities.
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.
BNY Mellon Tax Managed Growth 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
Investments in Securities: †
Equity Securities—Common Stocks
† 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 July 31, 2021, accumulated net unrealized appreciation on investments was $105,571,473, consisting of $105,656,446 gross unrealized appreciation and $84,973 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.