BNY Mellon Sustainable U.S. Equity Portfolio, Inc.
Statement of Investments
March 31, 2025 (Unaudited)

 
Description
 
 
 
Shares
Value ($)
Common Stocks — 98.5%
Banks — 5.5%
First Horizon Corp.
286,554
5,564,879
JPMorgan Chase & Co.
55,288
13,562,146
 
19,127,025
Capital Goods — 9.5%
AECOM
52,310
4,850,706
GE Vernova, Inc.
13,544
4,134,712
Hubbell, Inc.
16,679
5,519,248
Ingersoll Rand, Inc.
92,291
7,386,049
Johnson Controls International PLC
61,963
4,963,856
Trane Technologies PLC
17,316
5,834,107
 
32,688,678
Commercial & Professional Services — 3.5%
Veralto Corp.
56,283
5,484,779
Waste Management, Inc.
29,081
6,732,542
 
12,217,321
Consumer Discretionary Distribution & Retail — 4.7%
Amazon.com, Inc. (a)
84,436
16,064,793
Consumer Durables & Apparel — 1.1%
Lululemon Athletica, Inc. (a)
13,661
3,866,883
Consumer Staples Distribution & Retail — 3.4%
Costco Wholesale Corp.
12,329
11,660,522
Financial Services — 6.1%
CME Group, Inc.
16,551
4,390,815
Mastercard, Inc., Cl. A
15,741
8,627,957
The Goldman Sachs Group, Inc.
14,924
8,152,832
 
21,171,604
Food, Beverage & Tobacco — 2.3%
Darling Ingredients, Inc. (a)
91,893
2,870,737
PepsiCo, Inc.
34,636
5,193,322
 
8,064,059
Health Care Equipment & Services — 7.0%
Alcon AG
64,711
6,143,015
Boston Scientific Corp. (a)
84,497
8,524,057
DexCom, Inc. (a)
58,208
3,975,024
UnitedHealth Group, Inc.
10,362
5,427,098
 
24,069,194
Insurance — 5.3%
Aon PLC, Cl. A
16,005
6,387,435
Assurant, Inc.
25,784
5,408,194
RenaissanceRe Holdings Ltd.
26,352
6,324,480
 
18,120,109
Materials — 3.4%
Crown Holdings, Inc.
40,013
3,571,560
International Paper Co.
67,605
3,606,727
Linde PLC
9,614
4,476,663
 
11,654,950
Media & Entertainment — 4.2%
Alphabet, Inc., Cl. A
94,321
14,585,799
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Statement of Investments (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Common Stocks — 98.5% (continued)
Pharmaceuticals, Biotechnology & Life Sciences — 8.1%
AbbVie, Inc.
31,239
6,545,195
Bristol-Myers Squibb Co.
95,538
5,826,863
Danaher Corp.
28,681
5,879,605
Illumina, Inc. (a)
38,976
3,092,356
Zoetis, Inc.
39,309
6,472,227
 
27,816,246
Semiconductors & Semiconductor Equipment — 9.9%
Broadcom, Inc.
18,202
3,047,561
Micron Technology, Inc.
55,087
4,786,509
NVIDIA Corp.
243,840
26,427,379
 
34,261,449
Software & Services — 13.0%
Akamai Technologies, Inc. (a)
21,898
1,762,789
Intuit, Inc.
15,345
9,421,676
Microsoft Corp.
65,948
24,756,220
ServiceNow, Inc. (a)
6,197
4,933,680
Synopsys, Inc. (a)
9,099
3,902,106
 
44,776,471
Technology Hardware & Equipment — 8.4%
Apple, Inc.
111,700
24,811,921
TE Connectivity PLC
30,137
4,258,961
 
29,070,882
Utilities — 3.1%
Constellation Energy Corp.
25,466
5,134,710
NextEra Energy, Inc.
78,514
5,565,857
 
10,700,567
Total Common Stocks
(cost $224,974,768)
339,916,552
 
 
 
1-Day
Yield (%)
 
 
 
Investment Companies — 1.6%
Registered Investment Companies — 1.6%
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares(b)
(cost $5,396,454)
4.44
5,396,454
5,396,454
Total Investments (cost $230,371,222)
 
   100.1%
345,313,006
Liabilities, Less Cash and Receivables
 
     (.1%)
   (244,651)
Net Assets
   100.0%
345,068,355
 
(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.
See notes to statement of investments.
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Statement of Investments
BNY Mellon Sustainable U.S. Equity Portfolio, Inc.
March 31, 2025 (Unaudited)
The following is a summary of the inputs used as of March 31, 2025 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
339,916,552
—
—
339,916,552
Investment Companies
5,396,454
—
—
5,396,454
 
345,313,006
—
—
345,313,006
 
†
See Statement of Investments for additional detailed categorizations, if any.
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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:
The fund’s Board of Trustees (the “Board”) has designated the Adviser as the fund’s valuation designee 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.
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 Depositary 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, 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.
6
At March 31, 2025, accumulated net unrealized appreciation on investments was $114,941,784, consisting of $129,501,082 gross unrealized appreciation and $14,559,298 gross unrealized depreciation.
At March 31, 2025, 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.
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