STATEMENT
OF INVESTMENTS
BNY Mellon Short-Term U.S. Government Securities Fund
November 30, 2022 (Unaudited)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Bonds and Notes - 99.0% | |||||||||
Municipal Securities - 5.8% | |||||||||
California Earthquake Authority, Revenue Bonds, Ser. A | 5.49 | 7/1/2024 | 2,000,000 | 1,994,027 | |||||
Chicago II, GO, Refunding, Ser. B | 7.75 | 1/1/2025 | 2,008,000 | a | 2,122,769 | ||||
Connecticut, GO, Ser. A | 0.92 | 6/1/2025 | 250,000 | 228,606 | |||||
Kentucky Property & Building Commission, Revenue Bonds, Refunding, Ser. D | 2.08 | 11/1/2023 | 500,000 | 488,092 | |||||
Massachusetts College Building Authority, Revenue Bonds, Refunding, Ser. C | 1.90 | 5/1/2023 | 2,000,000 | 1,975,589 | |||||
Mesa Utility System, Revenue Bonds, Ser. B | 2.90 | 7/1/2023 | 1,000,000 | 989,170 | |||||
New York State Dormitory Authority, Revenue Bonds, Refunding (State of New York Personal Income Tax) Ser. C | 0.49 | 3/15/2024 | 1,750,000 | 1,655,636 | |||||
Tennessee School Bond Authority, Revenue Bonds, Refunding, Ser.A | 0.22 | 11/1/2023 | 1,500,000 | 1,440,496 | |||||
10,894,385 | |||||||||
U.S. Government Agencies Collateralized Mortgage Obligations - 13.3% | |||||||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 2586, Cl. MJ | 5.50 | 3/15/2023 | 6,336 | b | 6,326 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3527, Cl. DA | 4.00 | 4/15/2029 | 18,162 | b | 18,070 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3563, Cl. BD | 4.00 | 8/15/2024 | 81,684 | b | 80,950 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3627, Cl. QH | 4.00 | 1/15/2025 | 304,872 | b | 301,024 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3640, Cl. GM | 4.00 | 3/15/2025 | 196,478 | b | 193,943 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3780, Cl. AV | 4.00 | 4/15/2031 | 629,340 | b | 619,084 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3810, Cl. QB | 3.50 | 2/15/2026 | 325,479 | b | 318,597 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3816, Cl. HA | 3.50 | 11/15/2025 | 778,358 | b | 762,184 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3820, Cl. TB | 3.50 | 3/15/2026 | 475,955 | b | 465,776 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3830, Cl. NB | 4.50 | 2/15/2039 | 353,182 | b | 351,278 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3909, Cl. NG | 4.00 | 8/15/2026 | 617,962 | b | 607,709 | ||||
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Bonds and Notes - 99.0% (continued) | |||||||||
U.S. Government Agencies Collateralized Mortgage Obligations - 13.3% (continued) | |||||||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3964, Cl. QA | 3.00 | 11/15/2026 | 301,105 | b | 291,642 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3987, Cl. A | 2.00 | 9/15/2026 | 38,283 | b | 37,398 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 3998, Cl. KG | 2.00 | 11/15/2026 | 803,648 | b | 783,095 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 4020, Cl. PC | 1.75 | 3/15/2027 | 134,774 | b | 128,416 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 4029, Cl. LA | 2.00 | 1/15/2027 | 691,894 | b | 667,804 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 4216, Cl. KC | 1.75 | 6/15/2028 | 633,815 | b | 600,203 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 4287, Cl. AB | 2.00 | 12/15/2026 | 160,671 | b | 152,485 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 4304, Cl. DA | 2.50 | 1/15/2027 | 97,999 | b | 96,167 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 4313, Cl. ME | 3.00 | 4/15/2039 | 736,343 | b | 697,434 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 4340, Cl. VD | 3.00 | 7/15/2037 | 708,926 | b | 693,178 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 4386, Cl. AB | 3.00 | 9/15/2029 | 277,339 | b | 269,755 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 4465, Cl. BA | 2.50 | 12/15/2039 | 364,933 | b | 355,014 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 4569, Cl. DV | 3.00 | 8/15/2027 | 928,718 | b | 891,636 | ||||
Federal Home Loan Mortgage Corp., REMIC, Ser. 5058, Cl. CD | 1.00 | 6/15/2027 | 703,643 | b | 662,902 | ||||
Federal National Mortgage Association, REMIC, Ser. 2005-63, Cl. HB | 5.00 | 7/25/2025 | 34,471 | b | 34,191 | ||||
Federal National Mortgage Association, REMIC, Ser. 2010-112, Cl. CY | 4.00 | 10/25/2025 | 457,751 | b | 451,793 | ||||
Federal National Mortgage Association, REMIC, Ser. 2011-71, Cl. BA | 4.00 | 5/25/2037 | 14,886 | b | 14,831 | ||||
Federal National Mortgage Association, REMIC, Ser. 2011-88, Cl. M | 3.50 | 9/25/2026 | 272,239 | b | 266,472 | ||||
Federal National Mortgage Association, REMIC, Ser. 2012-127, Cl. DH | 4.00 | 11/25/2027 | 6,333 | b | 6,285 | ||||
Federal National Mortgage Association, REMIC, Ser. 2012-148, Cl. DC | 1.50 | 1/25/2028 | 890,706 | b | 838,827 | ||||
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Bonds and Notes - 99.0% (continued) | |||||||||
U.S. Government Agencies Collateralized Mortgage Obligations - 13.3% (continued) | |||||||||
Federal National Mortgage Association, REMIC, Ser. 2012-78, Cl. KB | 1.75 | 7/25/2027 | 212,458 | b | 200,396 | ||||
Federal National Mortgage Association, REMIC, Ser. 2012-98, Cl. YM | 1.50 | 9/25/2027 | 719,911 | b | 675,469 | ||||
Federal National Mortgage Association, REMIC, Ser. 2013-137, Cl. V | 3.50 | 10/25/2028 | 101,235 | b | 98,044 | ||||
Federal National Mortgage Association, REMIC, Ser. 2013-30, Cl. DA | 1.75 | 4/25/2028 | 247,863 | b | 232,382 | ||||
Federal National Mortgage Association, REMIC, Ser. 2013-39, Cl. MP | 1.75 | 5/25/2028 | 801,641 | b | 754,399 | ||||
Federal National Mortgage Association, REMIC, Ser. 2014-34, Cl. LC | 2.50 | 6/25/2029 | 315,060 | b | 302,544 | ||||
Federal National Mortgage Association, REMIC, Ser. 2015-33, Cl. P | 2.50 | 6/25/2045 | 1,006,226 | b | 952,454 | ||||
Federal National Mortgage Association, REMIC, Ser. 2017-9, Cl. HA | 3.00 | 12/25/2042 | 526,306 | b | 514,696 | ||||
Federal National Mortgage Association, REMIC, Ser. 2020-28, Cl. V | 3.50 | 2/25/2048 | 868,312 | b | 848,231 | ||||
Federal National Mortgage Association, Ser. 2012-152, CI. PC | 1.75 | 8/25/2042 | 1,884,797 | b | 1,807,654 | ||||
Government National Mortgage Association, Ser. 2010-6, Cl. AB | 3.00 | 11/20/2039 | 434,454 | 421,609 | |||||
Government National Mortgage Association, Ser. 2012-101, Cl. MA | 2.50 | 5/20/2040 | 438,724 | 421,600 | |||||
Government National Mortgage Association, Ser. 2012-51, Cl. VQ | 3.50 | 4/20/2025 | 450,765 | 441,255 | |||||
Government National Mortgage Association, Ser. 2016-23, CI. KA | 4.23 | 1/20/2031 | 204,569 | 201,856 | |||||
Government National Mortgage Association, Ser. 2022-87, Cl. A | 3.50 | 1/20/2040 | 1,902,012 | 1,849,885 | |||||
Government National Mortgage Association, Ser. 2022-90, CI. KB | 3.00 | 9/20/2044 | 1,637,965 | 1,565,243 | |||||
Government National Mortgage Association, Ser. 2022-94, Cl. A | 3.50 | 8/20/2031 | 1,978,662 | 1,936,378 | |||||
24,888,564 | |||||||||
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Bonds and Notes - 99.0% (continued) | |||||||||
U.S. Government Agencies Collateralized Municipal-Backed Securities - 25.4% | |||||||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates, Ser. K030, Cl. A2 | 3.25 | 4/25/2023 | 1,275,884 | b | 1,268,877 | ||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates, Ser. K044, Cl. A2 | 2.81 | 1/25/2025 | 1,453,403 | b | 1,397,196 | ||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates, Ser. K724, Cl. A2 | 3.06 | 11/25/2023 | 1,855,324 | b | 1,821,578 | ||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates, Ser. K725, Cl. A2 | 3.00 | 1/25/2024 | 733,101 | b | 715,673 | ||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates, Ser. KC03, Cl. A2 | 3.50 | 1/25/2026 | 1,496,408 | b | 1,448,565 | ||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates, Ser. KL1P, Cl. A1P | 2.54 | 10/25/2025 | 1,722,444 | b | 1,658,131 | ||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates, Ser. KLU1, Cl. A1 | 2.38 | 1/25/2025 | 1,350,622 | b | 1,307,895 | ||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates, Ser. KW02, Cl. A1 | 2.90 | 4/25/2026 | 1,970,740 | b | 1,925,118 | ||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates, Ser. X2FX, Cl. A2 | 2.41 | 9/25/2025 | 1,115,370 | b | 1,064,572 | ||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates, Ser. X3FX, Cl. A1FX | 3.00 | 3/25/2025 | 1,844,638 | b | 1,800,910 | ||||
Federal Home Loan Mortgage Corp. Small Business Mortgage Trust, Ser. 2016-SB22, Cl. A7F | 1.98 | 9/25/2023 | 436,608 | b | 428,007 | ||||
Federal Home Loan Mortgage Corp. Small Business Mortgage Trust, Ser. 2016-SB25, Cl. A7F | 2.58 | 10/25/2023 | 49,338 | b | 48,200 | ||||
Federal Home Loan Mortgage Corp. Small Business Mortgage Trust, Ser. 2018-SB50, Cl. A5F | 3.06 | 4/25/2023 | 1,144,783 | b | 1,137,448 | ||||
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Bonds and Notes - 99.0% (continued) | |||||||||
U.S. Government Agencies Collateralized Municipal-Backed Securities - 25.4% (continued) | |||||||||
Federal Home Loan Mortgage Corp. Small Business Mortgage Trust, Ser. 2018-SB51, CI. A5H | 3.14 | 4/25/2038 | 674,645 | b | 668,735 | ||||
Federal Home Loan Mortgage Corp. Small Business Mortgage Trust, Ser. 2019-SB61, Cl. A5F | 2.86 | 1/25/2024 | 1,736,510 | b | 1,692,685 | ||||
Federal Home Loan Mortgage Corp. Small Business Mortgage Trust, Ser. 2019-SB67, CI. A5H | 2.24 | 8/25/2039 | 690,846 | b | 660,374 | ||||
Federal Home Loan Mortgage Corp. Small Business Mortgage Trust, Ser. 2019-SB68, CI. A5H | 2.39 | 8/25/2039 | 364,443 | b | 350,531 | ||||
Federal National Mortgage Association, ACES, Ser. 2013-M2, Cl. AFL, 1 Month LIBOR +.35% | 4.39 | 1/25/2023 | 477,471 | b,c | 477,488 | ||||
Federal National Mortgage Association, ACES, Ser. 2014-M1, Cl. A2 | 3.40 | 7/25/2023 | 865,183 | b | 855,802 | ||||
Federal National Mortgage Association, ACES, Ser. 2014-M13, Cl. A2 | 3.02 | 8/25/2024 | 240,940 | b | 233,189 | ||||
Federal National Mortgage Association, ACES, Ser. 2014-M3, Cl. A2 | 3.50 | 1/25/2024 | 1,599,633 | b | 1,569,218 | ||||
Federal National Mortgage Association, ACES, Ser. 2017-M10, CI. AV2 | 2.62 | 7/25/2024 | 1,812,327 | b | 1,750,659 | ||||
Freddie Mac Multifamily Structured Pass Through Certificates, Ser. K045, Cl. A2 | 3.02 | 1/25/2025 | 1,371,210 | b | 1,322,948 | ||||
FRESB Mortgage Trust, Ser. 2017-SB41, Cl. A10F | 2.94 | 9/25/2027 | 1,789,669 | b | 1,678,780 | ||||
Government National Mortgage Association, Ser. 2011-103, Cl. B | 3.77 | 7/16/2051 | 918,063 | 861,521 | |||||
Government National Mortgage Association, Ser. 2012-142, CI. BC | 2.46 | 3/16/2049 | 1,256,299 | 1,173,908 | |||||
Government National Mortgage Association, Ser. 2012-150, CI. A | 1.90 | 11/16/2052 | 635,505 | 563,690 | |||||
Government National Mortgage Association, Ser. 2013-105, Cl. A | 1.71 | 2/16/2037 | 477,151 | 467,076 | |||||
Government National Mortgage Association, Ser. 2013-142, Cl. V | 3.10 | 2/16/2025 | 693,906 | 670,637 | |||||
Government National Mortgage Association, Ser. 2013-158, Cl. AB | 3.01 | 8/16/2053 | 1,356,288 | 1,281,025 | |||||
Government National Mortgage Association, Ser. 2013-29, CI. AB | 1.77 | 10/16/2045 | 179,406 | 166,268 | |||||
Government National Mortgage Association, Ser. 2013-29, CI. AD | 1.51 | 8/16/2041 | 448,032 | 435,541 | |||||
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Bonds and Notes - 99.0% (continued) | |||||||||
U.S. Government Agencies Collateralized Municipal-Backed Securities - 25.4% (continued) | |||||||||
Government National Mortgage Association, Ser. 2013-30, Cl. A | 1.50 | 5/16/2042 | 5,635 | 5,619 | |||||
Government National Mortgage Association, Ser. 2014-109, Cl. B | 3.20 | 9/16/2051 | 110,476 | 110,190 | |||||
Government National Mortgage Association, Ser. 2014-82, Cl. VG | 2.87 | 12/16/2046 | 1,161,985 | 1,111,669 | |||||
Government National Mortgage Association, Ser. 2015-188, CI. VD | 2.50 | 3/16/2032 | 491,732 | 458,394 | |||||
Government National Mortgage Association, Ser. 2017-70, CI. A | 2.50 | 10/16/2057 | 127,517 | 125,962 | |||||
Government National Mortgage Association, Ser. 2017-94, CI. AK | 2.40 | 5/16/2051 | 1,288,465 | 1,203,057 | |||||
Government National Mortgage Association, Ser. 2018-123, Cl. D | 3.10 | 1/16/2059 | 1,750,000 | 1,624,270 | |||||
Government National Mortgage Association, Ser. 2018-149, CI. A | 3.00 | 7/16/2048 | 276,029 | 264,200 | |||||
Government National Mortgage Association, Ser. 2019-34, Cl. AL | 3.15 | 5/16/2059 | 1,331,872 | 1,290,484 | |||||
Government National Mortgage Association, Ser. 2019-55, Cl. AE | 3.00 | 12/16/2059 | 1,061,414 | 995,807 | |||||
Government National Mortgage Association, Ser. 2022-147, CI. A | 2.20 | 10/16/2062 | 1,991,900 | 1,849,678 | |||||
Government National Mortgage Association, Ser. 2022-3, CI. AM | 1.60 | 9/16/2051 | 981,100 | 857,743 | |||||
Government National Mortgage Association, Ser. 2022-53, Cl. AE | 1.50 | 4/16/2046 | 2,929,066 | 2,674,165 | |||||
Government National Mortgage Association, Ser. 2022-82, Cl. AC | 2.00 | 5/16/2048 | 1,973,551 | 1,807,956 | |||||
47,281,439 | |||||||||
U.S. Government Agencies Mortgage-Backed - 20.9% | |||||||||
Federal Home Loan Mortgage Corp.: | |||||||||
2.50%, 3/1/2027-12/1/2027 | 2,563,412 | b | 2,458,812 | ||||||
3.50%, 10/1/2026-5/1/2027 | 392,179 | b | 381,512 | ||||||
4.50%, 11/1/2024-2/1/2034 | 497,614 | b | 500,670 | ||||||
Federal National Mortgage Association: | |||||||||
1.91%, 9/1/2051, 1 Month SOFR +2.35% | 2,554,313 | b,c | 2,383,160 | ||||||
2.25%, 1/1/2024 | 634,070 | b | 622,600 | ||||||
2.39%, 6/1/2025 | 726,712 | b | 698,651 | ||||||
2.45%, 4/1/2025 | 2,744,768 | b | 2,613,448 | ||||||
2.50%, 11/1/2026-3/1/2028 | 3,138,789 | b | 2,988,997 | ||||||
2.70%, 7/1/2024 | 1,806,241 | b | 1,732,989 | ||||||
2.72%, 3/1/2024 | 2,000,000 | b | 1,940,830 | ||||||
2.74%, 1/1/2050, 12 Month LIBOR +1.59% | 1,387,016 | b,c | 1,348,598 | ||||||
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Bonds and Notes - 99.0% (continued) | |||||||||
U.S. Government Agencies Mortgage-Backed - 20.9% (continued) | |||||||||
2.86%, 11/1/2049, 12 Month LIBOR +1.61% | 2,007,534 | b,c | 1,983,931 | ||||||
2.88%, 6/1/2024 | 913,119 | b | 884,609 | ||||||
2.89%, 4/1/2024-1/1/2025 | 3,000,000 | b | 2,906,116 | ||||||
2.94%, 9/1/2047, 12 Month LIBOR +1.62% | 1,903,543 | b,c | 1,850,989 | ||||||
2.95%, 11/1/2025 | 1,000,000 | b | 956,916 | ||||||
3.00%, 1/1/2028 | 388,132 | b | 375,579 | ||||||
3.09%, 8/1/2023 | 1,000,000 | b | 992,566 | ||||||
3.11%, 12/1/2024 | 1,897,992 | b | 1,838,775 | ||||||
3.15%, 11/1/2049, 12 Month LIBOR +1.61% | 1,705,137 | b,c | 1,670,790 | ||||||
3.45%, 7/1/2025 | 1,667,606 | b | 1,614,164 | ||||||
3.50%, 2/1/2031 | 1,874,118 | b | 1,849,390 | ||||||
4.00%, 7/1/2029-3/1/2034 | 1,051,279 | b | 1,054,732 | ||||||
5.00%, 3/1/2027 | 141,588 | b | 143,457 | ||||||
5.10%, 10/1/2024 | 684,185 | b | 681,695 | ||||||
Government National Mortgage Association I: | |||||||||
3.00%, 5/15/2027 | 1,470,954 |
| 1,425,724 | ||||||
4.00%, 8/15/2024-7/15/2027 | 321,998 |
| 317,930 | ||||||
Government National Mortgage Association II: | |||||||||
3.00%, 4/20/2027 | 349,058 |
| 322,405 | ||||||
3.50%, 3/20/2026 | 135,857 |
| 135,037 | ||||||
4.50%, 7/20/2024-5/20/2025 | 337,053 |
| 334,873 | ||||||
39,009,945 | |||||||||
U.S. Government Agencies Obligations - 2.8% | |||||||||
Federal Home Loan Bank, Bonds | 0.57 | 9/30/2024 | 2,000,000 | 1,854,108 | |||||
Federal Home Loan Bank, Bonds | 3.13 | 4/28/2025 | 1,500,000 | 1,445,429 | |||||
Federal Home Loan Mortgage Corp., Notes | 2.05 | 3/24/2025 | 2,000,000 | b | 1,893,150 | ||||
5,192,687 | |||||||||
U.S. Treasury Securities - 30.8% | |||||||||
U.S. Treasury Notes | 0.13 | 2/15/2024 | 4,000,000 | 3,790,000 | |||||
U.S. Treasury Notes | 0.25 | 5/15/2024 | 4,750,000 | 4,461,846 | |||||
U.S. Treasury Notes | 0.75 | 11/15/2024 | 4,000,000 | 3,729,688 | |||||
U.S. Treasury Notes | 1.25 | 8/31/2024 | 4,500,000 | d | 4,257,598 | ||||
U.S. Treasury Notes | 2.13 | 3/31/2024 | 5,000,000 | 4,839,844 | |||||
U.S. Treasury Notes | 2.50 | 5/31/2024 | 6,000,000 | 5,820,117 | |||||
U.S. Treasury Notes | 2.50 | 4/30/2024 | 5,000,000 | 4,856,348 | |||||
U.S. Treasury Notes | 2.75 | 5/15/2025 | 3,000,000 | 2,898,750 | |||||
U.S. Treasury Notes | 2.75 | 8/31/2023 | 1,500,000 | d | 1,478,140 | ||||
U.S. Treasury Notes | 3.00 | 7/31/2024 | 4,750,000 | d | 4,638,208 | ||||
U.S. Treasury Notes | 3.00 | 6/30/2024 | 5,000,000 | 4,882,715 | |||||
STATEMENT OF INVESTMENTS (Unaudited) (continued)
Description | Coupon | Maturity Date | Principal Amount ($) |
| Value ($) | ||||
Bonds and Notes - 99.0% (continued) | |||||||||
U.S. Treasury Securities - 30.8% (continued) | |||||||||
U.S. Treasury Notes | 3.13 | 8/15/2025 | 2,250,000 | d | 2,191,904 | ||||
U.S. Treasury Notes | 3.25 | 8/31/2024 | 4,750,000 | d | 4,654,629 | ||||
U.S. Treasury Notes | 4.25 | 9/30/2024 | 5,000,000 | d | 4,985,449 | ||||
57,485,236 | |||||||||
Total Bonds
and Notes | 184,752,256 | ||||||||
Description |
1-Day | Shares |
| Value ($) | |||||
Investment Companies - .5% | |||||||||
Registered Investment Companies - .5% | |||||||||
Dreyfus
Institutional Preferred Government Plus Money Market Fund, Institutional Shares | 3.94 | 930,533 | e | 930,533 | |||||
| |||||||||
Investment of Cash Collateral for Securities Loaned - .2% | |||||||||
Registered Investment Companies - .2% | |||||||||
Dreyfus
Institutional Preferred Government Plus Money Market Fund, SL Shares | 3.94 | 304,489 | e | 304,489 | |||||
Total Investments (cost $193,978,578) | 99.7% | 185,987,278 | |||||||
Cash and Receivables (Net) | 0.3% | 574,646 | |||||||
Net Assets | 100.0% | 186,561,924 | |||||||
ACES—Alternative Credit Enhancement Securities
LIBOR—London Interbank Offered Rate
REMIC—Real Estate Mortgage Investment Conduit
SOFR—Secured Overnight Financing Rate
a These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire the bonds in full at the earliest refunding date.
b The Federal Housing Finance Agency (“FHFA”) placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies.
c Variable rate security—interest rate resets periodically and rate shown is the interest rate in effect at period end. Security description also includes the reference rate and spread if published and available.
d Security, or portion thereof, on loan. At November 30, 2022, the value of the fund’s securities on loan was $21,496,328 and the value of the collateral was $22,058,217, consisting of cash collateral of $304,489 and U.S. Government & Agency securities valued at $21,753,728. In addition, the value of collateral may include pending sales that are also on loan.
e Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company’s prospectus.
STATEMENT
OF INVESTMENTS
BNY Mellon Short-Term U.S. Government Securities Fund
November 30, 2022 (Unaudited)
The following is a summary of the inputs used as of November 30, 2022 in valuing the fund’s investments:
Level 1-Unadjusted Quoted Prices | Level 2- Other Significant Observable Inputs | Level 3-Significant Unobservable Inputs | Total | |||
Assets ($) | ||||||
Investments in Securities:† | ||||||
Investment Companies | 1,235,022 | - | - | 1,235,022 | ||
Municipal Securities | - | 10,894,385 | - | 10,894,385 | ||
U.S. Government Agencies Collateralized Mortgage Obligations | - | 24,888,564 | - | 24,888,564 | ||
U.S. Government Agencies Collateralized Municipal-Backed Securities | - | 47,281,439 | - | 47,281,439 | ||
U.S. Government Agencies Mortgage-Backed | - | 39,009,945 | - | 39,009,945 | ||
U.S. Government Agencies Obligations | - | 5,192,687 | - | 5,192,687 | ||
U.S. Treasury Securities | - | 57,485,236 | - | 57,485,236 | ||
† 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:
The Trust’s Board of Trustees (the “Board”) has designated the Adviser as the fund’s valuation designee, effective September 8, 2022, to make all fair value determinations with respect to the fund’s portfolio investments, subject to the Board’s oversight and pursuant to Rule 2a-5 under the Act.
Registered investment companies that are not traded on an exchange are valued at their net asset value and are generally categorized within Level 1 of the fair value hierarchy.
Investments in debt securities, excluding short-term investments (other than U.S. Treasury Bills), financial futures and forward foreign currency exchange contracts (“forward contracts”) are valued each business day by one or more independent pricing services (each, a “Service”) approved by the Board. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of a Service are valued at the mean between the quoted bid prices (as obtained by a Service from dealers in such securities) and asked prices (as calculated by a Service based upon its evaluation of the market for such securities). Securities are valued as determined by a Service, based on methods which include consideration of the following: yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. The Services are engaged under the general supervision of the Board. These securities are generally categorized within Level 2 of the fair value hierarchy.U.S. Treasury Bills are valued at the mean price between quoted bid prices and asked prices by the Service. These securities are generally categorized within 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 November 30, 2022, accumulated net unrealized depreciation on investments was $7,991,300, consisting of $3,821 gross unrealized appreciation and $7,995,121 gross unrealized depreciation.
At November 30, 2022, 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.