UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number
811-05883
BNY Mellon Index Funds, Inc.
(Exact name of registrant as specified in charter)
c/o BNY Mellon Investment Adviser, Inc.
240 Greenwich Street
New York, New York 10286
(Address of Principal Executive Officer) (Zip Code)

Deirdre Cunnane, Esq.
240 Greenwich Street
New York, New York 10286
(Name and Address of Agent for Service)
Registrant's telephone number, including area code:
(212) 922-6400
Date of fiscal year end:
10/31
Date of reporting period:
4/30/26
ITEM 1 - Reports to Stockholders
BNY Mellon International Stock Index Fund
SEMI-ANNUAL
SHAREHOLDER
REPORT
April 30, 2026
Investor Shares – DIISX
This semi-annual shareholder report contains important information about BNY Mellon International Stock Index Fund (the “Fund”) for the period of November 1, 2025 to April 30, 2026. You can find additional information about the Fund at bny.com/investments/literaturecenter. You can also request this information by calling 1-800-373-9387 (inside the U.S. only) or by sending an e-mail request to info@bny.com.
What were the Fund’s costs for the last six months ?
(based on a hypothetical $10,000 investment)
Share Class Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment
Investor Shares* $31 0.60%**
*
During the period, fees were waived and/or expenses reimbursed pursuant to an agreement with the Fund’s investment adviser, BNY Mellon Investment Adviser, Inc.
**
Annualized.
KEY FUND STATISTICS (AS OF 4/30/26 )

Fund Size (Millions)
Number of Holdings
Portfolio Turnover
$327 693 1.35%
Portfolio Holdings (as of 4/30/26 )
Top Ten Holdings (Based on Net Assets) *
Graphical Representation - Top N Holdings Chart
* Excludes money market funds or other short-term securities held for the investment of cash and cash collateral for securities loaned, if any.
Country Allocation (Based on Net Assets)
Graphical Representation - Allocation 1 Chart
For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit bny.com/investments/literaturecenter .
Not FDIC Insured. Not Bank-Guaranteed. May Lose Value
© 2026 BNY Mellon Securities Corporation, Distributor,
240 Greenwich Street, 9th Floor, New York, NY 10286
Code-0079SA0426
TSR- BNY Investment Logo
BNY Mellon International Stock Index Fund
SEMI-ANNUAL
SHAREHOLDER
REPORT
April 30, 2026
Class I – DINIX
This semi-annual shareholder report contains important information about BNY Mellon International Stock Index Fund (the “Fund”) for the period of November 1, 2025 to April 30, 2026. You can find additional information about the Fund at bny.com/investments/literaturecenter. You can also request this information by calling 1-800-373-9387 (inside the U.S. only) or by sending an e-mail request to info@bny.com.
What were the Fund’s costs for the last six months ?
(based on a hypothetical $10,000 investment)
Share Class Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment
Class I* $18 0.35%**
*
During the period, fees were waived and/or expenses reimbursed pursuant to an agreement with the Fund’s investment adviser, BNY Mellon Investment Adviser, Inc.
**
Annualized.
KEY FUND STATISTICS (AS OF 4/30/26 )

Fund Size (Millions)
Number of Holdings
Portfolio Turnover
$327 693 1.35%
Portfolio Holdings (as of 4/30/26 )
Top Ten Holdings (Based on Net Assets) *
Graphical Representation - Top N Holdings Chart
* Excludes money market funds or other short-term securities held for the investment of cash and cash collateral for securities loaned, if any.
Country Allocation (Based on Net Assets)
Graphical Representation - Allocation 1 Chart
For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit bny.com/investments/literaturecenter .
Not FDIC Insured. Not Bank-Guaranteed. May Lose Value
© 2026 BNY Mellon Securities Corporation, Distributor,
240 Greenwich Street, 9th Floor, New York, NY 10286
Code-4037SA0426
TSR- BNY Investment Logo
BNY Mellon S&P 500 Index Fund
SEMI-ANNUAL
SHAREHOLDER
REPORT
April 30, 2026
Ticker – PEOPX
This semi-annual shareholder report contains important information about BNY Mellon S&P 500 Index Fund (the “Fund”) for the period of November 1, 2025 to April 30, 2026. You can find additional information about the Fund at bny.com/investments/literaturecenter. You can also request this information by calling 1-800-373-9387 (inside the U.S. only) or by sending an e-mail request to info@bny.com.
This report describes changes to the Fund that occurred during the reporting period.
What were the Fund’s costs for the last six months ?
(based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment
BNY Mellon S&P 500 Index Fund* $26 0.50%**
*
During the period, fees were waived and/or expenses reimbursed pursuant to an agreement with the Fund’s investment adviser, BNY Mellon Investment Adviser, Inc.
**
Annualized.
KEY FUND STATISTICS (AS OF 4/30/26 )

Fund Size (Millions)
Number of Holdings
Portfolio Turnover
$2,696 506 3.51%
Portfolio Holdings (as of 4/30/26 )
Top Ten Holdings (Based on Net Assets) *
Graphical Representation - Top N Holdings Chart
* Excludes money market funds or other short-term securities held for the investment of cash and cash collateral for securities loaned, if any.
Sector Allocation (Based on Net Assets)
Graphical Representation - Allocation 1 Chart
How has the Fund changed?
  • Effective November 14, 2025, the Fund may operate as a non-diversified fund, as defined under the Investment Company Act of 1940, as amended, to the approximate extent the S&P 500® Index is non-diversified, without shareholder approval. The Fund may therefore operate as non-diversified solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index.
This is a summary of certain changes to the Fund since November 1, 2025 . For more complete information, you may review the Fund’s current prospectus dated February 27, 2026 at bny.com/investments/literaturecenter or upon request at 1-800-373-9387.
For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit bny.com/investments/literaturecenter .
Not FDIC Insured. Not Bank-Guaranteed. May Lose Value
© 2026 BNY Mellon Securities Corporation, Distributor,
240 Greenwich Street, 9th Floor, New York, NY 10286
Code-0078SA0426
TSR- BNY Investment Logo
BNY Mellon Smallcap Stock Index Fund
SEMI-ANNUAL
SHAREHOLDER
REPORT
April 30, 2026
Investor Shares – DISSX
This semi-annual shareholder report contains important information about BNY Mellon Smallcap Stock Index Fund (the “Fund”) for the period of November 1, 2025 to April 30, 2026. You can find additional information about the Fund at bny.com/investments/literaturecenter. You can also request this information by calling 1-800-373-9387 (inside the U.S. only) or by sending an e-mail request to info@bny.com.
What were the Fund’s costs for the last six months ?
(based on a hypothetical $10,000 investment)
Share Class Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment
Investor Shares* $27 0.50%**
*
During the period, fees were waived and/or expenses reimbursed pursuant to an agreement with the Fund’s investment adviser, BNY Mellon Investment Adviser, Inc.
**
Annualized.
KEY FUND STATISTICS (AS OF 4/30/26 )

Fund Size (Millions)
Number of Holdings
Portfolio Turnover
$845 609 28.66%
Portfolio Holdings (as of 4/30/26 )
Top Ten Holdings (Based on Net Assets) *
Graphical Representation - Top N Holdings Chart
* Excludes money market funds or other short-term securities held for the investment of cash and cash collateral for securities loaned, if any.
Sector Allocation (Based on Net Assets)
Graphical Representation - Allocation 1 Chart
For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit bny.com/investments/literaturecenter .
Not FDIC Insured. Not Bank-Guaranteed. May Lose Value
© 2026 BNY Mellon Securities Corporation, Distributor,
240 Greenwich Street, 9th Floor, New York, NY 10286
Code-0077SA0426
TSR- BNY Investment Logo
BNY Mellon Smallcap Stock Index Fund
SEMI-ANNUAL
SHAREHOLDER
REPORT
April 30, 2026
Class I – DISIX
This semi-annual shareholder report contains important information about BNY Mellon Smallcap Stock Index Fund (the “Fund”) for the period of November 1, 2025 to April 30, 2026. You can find additional information about the Fund at bny.com/investments/literaturecenter. You can also request this information by calling 1-800-373-9387 (inside the U.S. only) or by sending an e-mail request to info@bny.com.
What were the Fund’s costs for the last six months ?
(based on a hypothetical $10,000 investment)
Share Class Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment
Class I* $13 0.25%**
*
During the period, fees were waived and/or expenses reimbursed pursuant to an agreement with the Fund’s investment adviser, BNY Mellon Investment Adviser, Inc.
**
Annualized.
KEY FUND STATISTICS (AS OF 4/30/26 )

Fund Size (Millions)
Number of Holdings
Portfolio Turnover
$845 609 28.66%
Portfolio Holdings (as of 4/30/26 )
Top Ten Holdings (Based on Net Assets) *
Graphical Representation - Top N Holdings Chart
* Excludes money market funds or other short-term securities held for the investment of cash and cash collateral for securities loaned, if any.
Sector Allocation (Based on Net Assets)
Graphical Representation - Allocation 1 Chart
For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit bny.com/investments/literaturecenter .
Not FDIC Insured. Not Bank-Guaranteed. May Lose Value
© 2026 BNY Mellon Securities Corporation, Distributor,
240 Greenwich Street, 9th Floor, New York, NY 10286
Code-4036SA0426
TSR- BNY Investment Logo

Item 2. Code of Ethics.

Not applicable.

Item 3. Audit Committee Financial Expert.

Not applicable.

Item 4. Principal Accountant Fees and Services.

Not applicable.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Investments.

Not applicable.

 

 
BNY Mellon International Stock Index Fund
SEMI-ANNUAL FINANCIALS AND OTHER INFORMATION
April 30, 2026
 
Class
Ticker
Investor
DIISX
I
DINIX
Save time. Save paper. View your next shareholder report online as soon as it’s available. Log into www.bny.com/investments and sign up for eCommunications. It’s simple and only takes a few minutes.
The views expressed in this report reflect those of the portfolio manager(s) only through the end of the period covered and do not necessarily represent the views of BNY Mellon Investment Adviser, Inc. or any other person in the BNY Mellon Investment Adviser, Inc. organization. Any such views are subject to change at any time based upon market or other conditions and BNY Mellon Investment Adviser, Inc. disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a fund in the BNY Mellon Family of Funds are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any fund in the BNY Mellon
Family of Funds.
Not FDIC-Insured • Not Bank-Guaranteed • May Lose Value
Contents
The Fund
Please note the Semi-Annual Financials and Other Information only contains Items 7-11 required in Form N-CSR. All other required items will be filed with the Securities and Exchange Commission (the “SEC”).
 
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies. 
BNY Mellon International Stock Index Fund
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6%
Australia — 6.5%
ANZ Group Holdings Ltd.
44,760
1,191,320
APA Group
19,079
142,037
Aristocrat Leisure Ltd.
8,167
281,420
ASX Ltd.
2,823
123,930
BHP Group Ltd.
75,420
2,985,552
Brambles Ltd.
19,982
325,779
CAR Group Ltd.(a)
5,685
105,563
Cochlear Ltd.
990
67,789
Coles Group Ltd.
19,906
317,381
Commonwealth Bank of Australia
24,850
3,116,671
Computershare Ltd.
7,679
167,824
CSL Ltd.
7,204
650,293
Evolution Mining Ltd.
30,026
260,974
Fortescue Ltd.
24,814
355,897
Goodman Group
30,222
653,803
Insurance Australia Group Ltd.
35,673
191,686
Lynas Rare Earths Ltd.(b)
13,785
197,003
Macquarie Group Ltd.
5,377
922,211
Medibank Private Ltd.
42,229
142,842
National Australia Bank Ltd.
45,552
1,313,059
Northern Star Resources Ltd.
20,361
311,170
Origin Energy Ltd.
25,450
223,145
Pro Medicus Ltd.(a)
907
89,335
Qantas Airways Ltd.
11,594
70,657
QBE Insurance Group Ltd.
22,107
356,631
REA Group Ltd.(a)
806
100,044
Rio Tinto Ltd.
5,488
663,158
Santos Ltd.
48,092
276,679
Scentre Group
76,678
206,470
SGH Ltd.
2,870
80,996
Sigma Healthcare Ltd.
77,297
156,127
Sonic Healthcare Ltd.
6,765
97,084
South32 Ltd.
66,839
198,348
Stockland
36,194
105,867
Suncorp Group Ltd.(a)
15,881
196,003
Telstra Group Ltd.
59,174
227,014
The Lottery Corp., Ltd.
34,461
137,588
Transurban Group
45,945
466,536
Vicinity Ltd.(a)
58,366
105,662
Washington H Soul Pattinson & Co. Ltd.
5,142
156,229
Wesfarmers Ltd.
16,859
891,050
Westpac Banking Corp.
50,790
1,411,542
WiseTech Global Ltd.
3,158
98,459
Woodside Energy Group Ltd.
28,231
675,783
Woolworths Group Ltd.
18,102
448,348
 
21,262,959
Austria — .3%
BAWAG Group AG(c)
973
167,778
3
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
Austria — .3% (continued)
Erste Group Bank AG
4,572
510,820
OMV AG
2,227
157,271
Raiffeisen Bank International AG
2,032
111,853
Verbund AG
1,026
77,405
 
1,025,127
Belgium — .9%
Ageas SA
2,210
172,984
Anheuser-Busch InBev SA
14,678
1,109,509
D’ieteren Group
320
66,116
Elia Group SA(b)
675
112,266
Financiere de Tubize SA
298
68,587
Groupe Bruxelles Lambert NV
1,200
112,539
KBC Group NV
3,416
455,871
Lotus Bakeries NV
6
72,662
Sofina SA
257
66,179
Syensqo SA
1,164
76,963
UCB SA
1,867
503,904
 
2,817,580
Chile — .1%
Antofagasta PLC
5,871
288,710
China — .0%
Yangzijiang Shipbuilding Holdings Ltd.
40,100
136,773
Czechia — .0%
CSG NV(b)
2,853
61,855
Denmark — 1.6%
AP Moller - Maersk A/S, Cl. A
43
100,817
AP Moller - Maersk A/S, Cl. B
60
142,109
Carlsberg A/S, Cl. B
1,368
185,160
Coloplast A/S, Cl. B
1,857
115,093
Danske Bank A/S
9,920
509,636
Demant A/S(b)
1,325
41,967
DSV A/S
3,035
742,454
Genmab A/S(b)
893
236,353
Novo Nordisk A/S, Cl. B
47,825
2,013,803
Novonesis Novozymes B, Cl. B
5,275
323,689
Orsted A/S(b),(c)
7,752
207,752
Pandora A/S
1,195
90,995
Rockwool A/S, Cl. B
1,610
46,750
Tryg A/S
4,885
117,225
Vestas Wind Systems A/S
15,150
465,984
 
5,339,787
Finland — 1.3%
Elisa OYJ
2,158
104,710
Fortum OYJ
6,594
166,212
Kesko OYJ, Cl. B
4,083
100,468
Kone OYJ, Cl. B
5,114
325,430
Metso OYJ
9,831
171,408
Neste OYJ
6,233
214,945
Nokia OYJ
78,588
987,125
Nordea Bank Abp
45,892
861,762
Orion OYJ, Cl. B
1,643
132,721
4
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
Finland — 1.3% (continued)
Sampo OYJ, Cl. A
35,291
366,639
Stora Enso OYJ, Cl. R
8,557
95,793
UPM-Kymmene OYJ
7,911
237,766
Wartsila OYJ Abp
7,543
316,753
 
4,081,732
France — 8.9%
Accor SA
2,739
136,172
Aeroports de Paris SA
528
64,143
Air Liquide SA
8,604
1,852,092
Alstom SA(b)
5,255
106,461
Amundi SA(c)
939
90,927
AXA SA
24,833
1,196,216
Ayvens SA(c)
4,668
63,136
BioMerieux
641
54,047
BNP Paribas SA
14,925
1,570,781
Bollore SE
10,987
69,364
Bouygues SA
2,803
166,378
Bureau Veritas SA
5,053
154,973
Capgemini SE
2,311
279,710
Carrefour SA
8,567
170,554
Cie de Saint-Gobain SA
6,587
601,703
Cie Generale des Etablissements Michelin SCA
9,557
346,881
Covivio SA
786
52,009
Credit Agricole SA
15,836
307,419
Danone SA
9,613
753,831
Dassault Aviation SA
292
102,026
Dassault Systemes SE
10,114
228,231
Eiffage SA
1,008
162,646
Engie SA
27,122
895,607
EssilorLuxottica SA
4,472
953,629
Gecina SA
701
59,259
Getlink SE(a)
4,710
105,529
Hermes International SCA
470
900,409
Ipsen SA
539
106,041
Kering SA
1,109
301,984
Klepierre SA
3,304
133,843
Legrand SA
3,936
704,863
L’Oreal SA
3,567
1,530,104
LVMH Moet Hennessy Louis Vuitton SE
3,695
1,960,743
Orange SA
27,651
577,750
Pernod Ricard SA
2,949
217,802
Publicis Groupe SA
3,433
321,229
Renault SA
2,735
96,370
Rexel SA
3,369
142,050
Safran SA
5,280
1,683,495
Sanofi SA
16,298
1,522,558
Sartorius Stedim Biotech
434
80,385
Schneider Electric SE
8,142
2,571,357
Societe Generale SA
10,249
820,687
Sodexo SA
1,228
62,483
Thales SA
1,378
377,906
5
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
France — 8.9% (continued)
TotalEnergies SE
29,490
2,745,937
Unibail-Rodamco-Westfield
1,760
214,534
Veolia Environnement SA
9,472
400,668
Vinci SA
7,344
1,111,284
 
29,128,206
Germany — 8.6%
adidas AG
2,553
442,416
Allianz SE
5,649
2,582,666
BASF SE
13,254
851,674
Bayer AG
14,581
651,069
Bayerische Motoren Werke AG
4,186
383,415
Beiersdorf AG
1,381
114,342
Brenntag SE
1,846
134,381
Commerzbank AG
10,938
452,888
Continental AG
1,616
121,905
CTS Eventim AG & Co. KGaA
891
58,754
Daimler Truck Holding AG
6,912
348,776
Delivery Hero SE(b),(c)
2,659
64,297
Deutsche Bank AG
26,953
839,902
Deutsche Boerse AG
2,796
858,729
Deutsche Lufthansa AG
9,404
80,760
Deutsche Post AG
13,662
806,947
Deutsche Telekom AG
54,630
1,768,364
E.ON SE
33,339
738,484
Evonik Industries AG
3,582
74,333
Fresenius Medical Care AG
3,305
149,853
Fresenius SE & Co. KGaA
6,305
305,627
GEA Group AG
2,181
149,525
Hannover Rueck SE
887
268,094
Heidelberg Materials AG
1,985
439,665
Henkel AG & Co. KGaA
1,515
104,393
Hensoldt AG
953
86,262
HOCHTIEF AG
227
122,016
Infineon Technologies AG
19,392
1,303,234
Knorr-Bremse AG
1,070
124,415
LEG Immobilien SE
1,149
80,342
Mercedes-Benz Group AG
10,714
624,452
Merck KGaA
1,915
247,605
MTU Aero Engines AG
795
273,469
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
1,940
1,162,639
Nemetschek SE
839
60,858
Rational AG
76
55,849
Rheinmetall AG
683
1,087,794
RWE AG
9,389
682,706
SAP SE
15,506
2,654,865
Scout24 SE(c)
1,154
96,265
Siemens AG
11,286
3,352,105
Siemens Energy AG
11,508
2,440,962
Siemens Healthineers AG(c)
4,957
203,137
Symrise AG
2,021
178,647
Talanx AG
997
129,917
6
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
Germany — 8.6% (continued)
Vonovia SE
11,423
307,513
Zalando SE(b),(c)
3,481
85,845
 
28,152,156
Hong Kong — 2.1%
AIA Group Ltd.
156,000
1,718,162
BOC Hong Kong Holdings Ltd.
54,000
310,240
CK Asset Holdings Ltd.
27,475
172,547
CK Hutchison Holdings Ltd.
40,475
339,711
CK Infrastructure Holdings Ltd.
9,500
79,555
CLP Holdings Ltd.
24,788
237,852
Futu Holdings Ltd., ADR
873
134,887
Galaxy Entertainment Group Ltd.
30,277
129,054
Henderson Land Development Co. Ltd.(a)
22,138
87,520
HKT Trust & HKT Ltd.
55,660
90,331
Hong Kong & China Gas Co. Ltd.
166,267
153,630
Hong Kong Exchanges & Clearing Ltd.
17,842
947,723
Hongkong Land Holdings Ltd.
16,300
129,275
Jardine Matheson Holdings Ltd.
2,446
166,370
Link REIT
39,339
197,761
MTR Corp. Ltd.(a)
24,256
103,889
Power Assets Holdings Ltd.
20,000
165,483
Prudential PLC
37,677
564,483
Sino Land Co. Ltd.
55,631
89,358
SITC International Holdings Co. Ltd.
21,000
88,243
Sun Hung Kai Properties Ltd.
21,199
371,817
Swire Pacific Ltd., Cl. A
5,500
59,940
Techtronic Industries Co. Ltd.
21,365
311,146
The Wharf Holdings Ltd.
15,000
49,634
WH Group Ltd.(c)
122,885
150,625
Wharf Real Estate Investment Co. Ltd.
25,311
79,353
 
6,928,589
Ireland — .7%
AerCap Holdings NV
2,520
358,369
AIB Group PLC
31,730
361,278
Bank of Ireland Group PLC
14,087
279,368
Experian PLC
13,625
497,468
Kerry Group PLC, Cl. A
2,360
200,525
Kingspan Group PLC
2,243
207,700
Ryanair Holdings PLC
12,584
336,100
 
2,240,808
Israel — 1.1%
Azrieli Group Ltd.
604
97,323
Bank Hapoalim BM
18,736
503,086
Bank Leumi Le-Israel BM
21,844
553,657
Check Point Software Technologies Ltd.(b)
1,305
146,773
Elbit Systems Ltd.
409
340,397
ICL Group Ltd.
10,991
59,101
Israel Discount Bank Ltd., Cl. A
18,075
202,003
Mizrahi Tefahot Bank Ltd.
2,295
181,356
Monday.com Ltd.(b)
674
44,397
Nice Ltd.(b)
916
93,098
7
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
Israel — 1.1% (continued)
Nova Ltd.(b)
434
215,887
Phoenix Financial Ltd.
3,424
206,439
Teva Pharmaceutical Industries Ltd., ADR(b)
16,946
594,296
Tower Semiconductor Ltd.(b)
1,657
348,803
 
3,586,616
Italy — 3.1%
Banca Mediolanum SpA
3,327
72,909
Banca Monte dei Paschi di Siena SpA
28,944
310,648
Banco BPM SpA
17,127
249,563
BPER Banca SPA
22,193
327,425
Buzzi SpA
1,218
66,669
Davide Campari-Milano NV
9,002
66,662
Enel SpA
122,385
1,427,905
Eni SpA
30,373
858,357
Ferrari NV
1,867
643,917
FinecoBank Banca Fineco SpA
9,189
227,843
Generali(a)
12,658
566,796
Intesa Sanpaolo SpA
206,866
1,405,683
Italgas SpA
7,934
95,917
Leonardo SpA
5,951
370,579
Moncler SpA
3,464
208,787
Poste Italiane SpA(c)
6,807
180,730
Prysmian SpA
4,237
642,079
Recordati Industria Chimica e Farmaceutica SpA
1,701
99,152
Snam SpA
29,849
235,712
Telecom Italia SpA(b)
173,001
136,404
Telecom Italia SpA(b)
66,553
61,401
Terna - Rete Elettrica Nazionale
21,066
253,567
UniCredit SpA
20,818
1,608,821
Unipol Assicurazioni SpA
5,403
141,131
 
10,258,657
Japan — 22.7%
Advantest Corp.
11,400
2,135,415
Aeon Co. Ltd.
33,200
319,528
AGC, Inc.
2,860
102,673
Aisin Corp.
7,500
120,054
Ajinomoto Co., Inc.
13,400
435,274
ANA Holdings, Inc.
2,300
38,220
Asahi Group Holdings Ltd.
22,200
219,913
Asahi Kasei Corp.
19,500
191,455
Asics Corp.
10,300
293,439
Astellas Pharma, Inc.
27,195
390,039
Bandai Namco Holdings, Inc.
8,850
205,502
Bridgestone Corp.
16,900
354,060
Canon, Inc.
13,017
335,082
Capcom Co. Ltd.
5,200
109,616
Central Japan Railway Co.
11,400
273,732
Chubu Electric Power Co., Inc.
10,500
181,440
Chugai Pharmaceutical Co. Ltd.
10,084
529,909
Dai Nippon Printing Co. Ltd.
5,700
108,719
Daifuku Co. Ltd.
4,700
205,333
8
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
Japan — 22.7% (continued)
Daiichi Life Group, Inc.
52,200
482,723
Daiichi Sankyo Co. Ltd.
27,049
448,781
Daikin Industries Ltd.
3,900
555,697
Daito Trust Construction Co. Ltd.
4,500
101,181
Daiwa House Industry Co. Ltd.
8,300
254,454
Daiwa Securities Group, Inc.
20,000
188,671
Denso Corp.
26,100
313,675
Disco Corp.
1,400
674,079
East Japan Railway Co.
14,200
307,747
Ebara Corp.
6,800
238,425
Eisai Co. Ltd.
3,800
114,161
ENEOS Holdings, Inc.
40,226
340,545
FANUC Corp.
13,945
618,638
Fast Retailing Co. Ltd.
2,774
1,301,212
Fuji Electric Co. Ltd.
2,000
169,097
FUJIFILM Holdings Corp.
16,600
307,550
Fujikura Ltd.
22,200
875,890
Fujitsu Ltd.
26,400
536,071
Hankyu Hanshin Holdings, Inc.
3,600
104,040
Hikari Tsushin, Inc.
200
48,780
Hitachi Ltd.
68,000
2,138,372
Honda Motor Co. Ltd.
55,177
445,965
Hoya Corp.
5,000
936,063
Hulic Co. Ltd.
7,200
81,466
Ibiden Co. Ltd.
3,600
313,945
Idemitsu Kosan Co. Ltd.
11,675
101,088
IHI Corp.
15,500
284,780
Inpex Corp.
13,000
339,050
Isuzu Motors Ltd.
8,100
111,789
ITOCHU Corp.
88,300
1,100,937
Japan Airlines Co. Ltd.
2,000
31,408
Japan Exchange Group, Inc.
15,000
179,576
Japan Post Bank Co. Ltd.
26,200
454,139
Japan Post Holdings Co. Ltd.
26,900
314,517
Japan Post Insurance Co. Ltd.
8,400
82,384
Japan Tobacco, Inc.
18,000
675,910
JFE Holdings, Inc.
8,760
96,412
JX Advanced Metals Corp.
8,300
257,491
Kajima Corp.
6,200
244,058
Kao Corp.
6,800
253,211
Kawasaki Heavy Industries Ltd.
11,500
238,543
Kawasaki Kisen Kaisha Ltd.
5,100
83,736
KDDI Corp.
44,126
726,688
Keyence Corp.
2,840
1,300,828
Kikkoman Corp.
10,100
92,214
Kioxia Holdings Corp.(b)
2,800
696,537
Kirin Holdings Company Ltd.
11,600
183,105
Komatsu Ltd.
14,200
600,216
Konami Group Corp.
1,500
182,091
Kubota Corp.
14,600
239,945
Kyocera Corp.
19,000
331,590
9
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
Japan — 22.7% (continued)
Kyowa Kirin Co. Ltd.
3,505
53,134
Lasertec Corp.
1,200
332,858
LY Corp.
41,800
110,555
M3, Inc.(a)
6,400
61,669
Makita Corp.
3,300
123,923
Marubeni Corp.
20,900
817,965
MatsukiyoCocokara & Co.
4,900
71,608
Minebea Mitsumi, Inc.
5,100
102,551
Mitsubishi Chemical Group Corp.
17,780
103,877
Mitsubishi Corp.
47,894
1,547,178
Mitsubishi Electric Corp.
28,200
1,132,449
Mitsubishi Estate Co. Ltd.
15,700
447,621
Mitsubishi HC Capital, Inc.
13,000
118,475
Mitsubishi Heavy Industries Ltd.
47,600
1,412,217
Mitsubishi UFJ Financial Group, Inc.
167,390
3,034,190
Mitsui & Co. Ltd.
36,700
1,392,659
Mitsui Fudosan Co. Ltd.
39,558
432,703
Mitsui O.S.K. Lines Ltd.(a)
5,200
195,852
Mizuho Financial Group, Inc.
36,950
1,601,819
MonotaRO Co. Ltd.
3,700
44,478
MS&AD Insurance Group Holdings, Inc.
19,271
499,564
Murata Manufacturing Co. Ltd.
25,100
835,509
NEC Corp.
19,500
520,734
Nexon Co. Ltd.
5,500
93,330
NIDEC Corp.(b)
12,800
196,848
Nintendo Co. Ltd.
16,350
795,371
Nippon Building Fund, Inc.
113
94,987
Nippon Paint Holdings Co. Ltd.
14,300
90,461
Nippon Sanso Holdings Corp.
2,600
92,549
Nippon Steel Corp.
72,505
265,875
Nippon Yusen KK
6,040
219,421
Nissan Motor Co. Ltd.(a),(b)
32,600
74,600
Nitori Holdings Co. Ltd.
5,900
85,141
Nitto Denko Corp.
10,000
193,009
Nomura Holdings, Inc.
44,600
357,723
Nomura Research Institute Ltd.
5,849
157,570
NTT, Inc.
440,600
429,378
Obayashi Corp.
9,500
223,728
OBIC Co. Ltd.
5,000
131,985
Olympus Corp.
17,100
168,866
Oracle Corp.
500
27,844
Oriental Land Co. Ltd.(a)
15,900
222,278
ORIX Corp.
17,300
577,934
Osaka Gas Co. Ltd.
5,400
196,358
Otsuka Corp.
3,500
65,466
Otsuka Holdings Co. Ltd.
6,400
468,851
Pan Pacific International Holdings Corp.
27,800
158,226
Panasonic Holdings Corp.
34,895
720,310
Rakuten Group, Inc.(b)
23,100
112,629
Recruit Holdings Co. Ltd.
20,900
975,649
Renesas Electronics Corp.
26,500
550,117
10
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
Japan — 22.7% (continued)
Resona Holdings, Inc.
30,800
384,533
Ryohin Keikaku Co. Ltd.
7,400
171,671
Sanrio Co. Ltd.(a)
13,500
78,830
SBI Holdings, Inc.
8,560
174,096
SCREEN Holdings Co. Ltd.
2,400
158,547
SECOM Co. Ltd.
5,800
213,283
Seibu Holdings, Inc.
3,100
73,721
Sekisui Chemical Co. Ltd.
5,700
86,537
Sekisui House Ltd.
9,000
196,031
Seven & i Holdings Co. Ltd.
30,880
368,850
Shimadzu Corp.
3,700
86,263
Shimano, Inc.
1,100
115,305
Shimizu Corp.
7,500
146,802
Shin-Etsu Chemical Co. Ltd.
25,100
1,169,619
Shionogi & Co. Ltd.
11,500
234,585
Shiseido Co. Ltd.
5,800
118,207
SMC Corp.
800
392,456
SoftBank Corp.
432,700
613,468
SoftBank Group Corp.
55,160
1,868,478
Sompo Holdings, Inc.
13,310
494,841
Sony Financial Group, Inc.
93,300
83,677
Sony Group Corp.
91,300
1,825,446
Subaru Corp.
8,800
130,949
Sumitomo Corp.
16,100
605,152
Sumitomo Electric Industries Ltd.
10,600
699,042
Sumitomo Metal Mining Co. Ltd.
3,600
219,695
Sumitomo Mitsui Financial Group, Inc.
54,400
1,915,660
Sumitomo Mitsui Trust Group, Inc.
9,328
310,766
Sumitomo Realty & Development Co. Ltd.
9,200
286,789
Suntory Beverage & Food Ltd.
2,000
57,567
Suzuki Motor Corp.
23,200
258,939
Sysmex Corp.
7,200
63,380
T&D Holdings, Inc.
6,700
163,124
Taisei Corp.
2,200
240,243
Takeda Pharmaceutical Co. Ltd.
23,623
785,733
TDK Corp.
28,900
539,180
Terumo Corp.
19,800
253,614
The Chiba Bank Ltd.
8,500
119,053
The Kansai Electric Power Company, Inc.
13,899
223,259
TIS, Inc.
3,000
65,958
Toho Co. Ltd.
8,000
74,444
Tokio Marine Holdings, Inc.
27,300
1,237,669
Tokyo Electron Ltd.
6,600
1,957,840
Tokyo Gas Co. Ltd.
4,700
200,746
Tokyu Corp.
7,710
82,112
TOPPAN Holdings, Inc.
3,500
104,809
Toray Industries, Inc.
20,200
144,790
Toyota Industries Corp.(b)
500
65,235
Toyota Motor Corp.
140,775
2,693,997
Toyota Tsusho Corp.
10,200
401,658
Tsuruha Holdings, Inc.
3,400
44,589
11
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
Japan — 22.7% (continued)
Unicharm Corp.
16,600
96,947
West Japan Railway Co.
5,900
106,915
Yamaha Motor Co. Ltd.
13,800
97,357
Yokogawa Electric Corp.
3,300
116,220
Yokohama Financial Group, Inc.
15,900
151,995
Zensho Holdings Co. Ltd.
1,500
82,607
ZOZO, Inc.
6,700
45,180
 
74,087,425
Luxembourg — .2%
ArcelorMittal SA
6,382
364,078
CVC Capital Partners PLC(a),(c)
3,409
51,927
Eurofins Scientific SE
1,789
124,232
Tenaris SA
5,742
183,520
 
723,757
Macau — .0%
Sands China Ltd.
34,613
72,700
Mexico — .1%
Fresnillo PLC
3,325
148,591
Netherlands — 6.0%
ABN AMRO Bank NV, CVA
8,715
305,379
Adyen NV(b),(c)
373
422,090
Aegon Ltd.
18,357
151,563
Airbus SE
8,824
1,829,483
Akzo Nobel NV
2,563
150,626
Argenx SE(b)
919
719,021
ASM International NV
692
677,772
ASML Holding NV
5,764
8,320,922
ASR Nederland NV
2,347
178,000
BE Semiconductor Industries NV
1,084
316,869
Euronext NV(c)
1,133
190,222
EXOR NV
1,387
108,977
Ferrovial SE
7,729
531,221
Heineken Holding NV
1,904
135,524
Heineken NV
4,268
330,454
ING Groep NV
43,366
1,257,829
Koninklijke Ahold Delhaize NV
13,220
621,257
Koninklijke KPN NV
57,351
307,202
Koninklijke Philips NV
11,573
305,295
Nebius Group NV(a),(b)
3,193
441,368
NN Group NV
3,957
346,613
Prosus NV
19,430
939,237
QIAGEN NV
3,067
104,474
Randstad NV(a)
1,503
44,707
Stellantis NV(b)
30,471
222,698
The Magnum Ice Cream Company NV(b)
7,272
106,261
Universal Music Group NV
16,233
339,901
Wolters Kluwer NV
3,442
269,294
 
19,674,259
New Zealand — .2%
Auckland International Airport Ltd.
25,748
125,656
Contact Energy Ltd.
12,450
70,080
12
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
New Zealand — .2% (continued)
Fisher & Paykel Healthcare Corp. Ltd.
8,534
185,018
Infratil Ltd.
14,779
109,354
Meridian Energy Ltd.
19,902
67,046
Xero Ltd.(b)
2,572
150,232
 
707,386
Norway — .7%
Aker BP ASA
4,674
183,478
DNB Bank ASA
13,246
401,006
Equinor ASA
11,390
466,396
Gjensidige Forsikring ASA(a)
3,042
85,338
Kongsberg Gruppen ASA
6,504
218,062
Mowi ASA
7,004
155,575
Norsk Hydro ASA
20,347
229,577
Orkla ASA
10,138
125,036
Salmar ASA(a)
949
57,258
Telenor ASA
9,158
150,740
Yara International ASA
2,409
140,163
 
2,212,629
Poland — .0%
InPost SA(b)
3,686
65,897
Portugal — .2%
Banco Comercial Portugues SA, Cl. R
113,761
121,451
EDP SA
47,104
256,763
Galp Energia SGPS SA
6,231
146,060
Jeronimo Martins SGPS SA
4,151
99,784
 
624,058
Singapore — 1.6%
CapitaLand Ascendas REIT
59,960
117,720
CapitaLand Integrated Commercial Trust
92,942
172,696
CapitaLand Investment Ltd.
36,900
80,989
DBS Group Holdings Ltd.
31,572
1,456,463
Grab Holdings Ltd., Cl. A(b)
34,384
131,347
Keppel Ltd.
21,600
185,122
Keppel REIT
2,400
1,692
Oversea-Chinese Banking Corp. Ltd.
50,324
869,583
Sea Ltd., ADR(b)
5,923
502,744
Sembcorp Industries Ltd.
13,400
70,122
Singapore Airlines Ltd.
22,733
112,591
Singapore Exchange Ltd.
12,600
216,184
Singapore Technologies Engineering Ltd.
23,000
195,070
Singapore Telecommunications Ltd.
110,551
399,860
United Overseas Bank Ltd.
18,763
535,693
Wilmar International Ltd.
26,800
76,216
 
5,124,092
Spain — 3.6%
Acciona SA
350
101,896
ACS Actividades de Construccion y Servicios SA
2,670
385,218
Aena SME SA(c)
11,286
308,264
Amadeus IT Group SA
6,726
386,813
Banco Bilbao Vizcaya Argentaria SA
84,776
1,874,931
Banco de Sabadell SA
74,613
289,579
13
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
Spain — 3.6% (continued)
Banco Santander SA
218,132
2,667,908
Bankinter SA
9,818
163,606
CaixaBank SA
57,357
731,572
Cellnex Telecom SA(c)
7,188
241,810
EDP Renovaveis SA
4,844
80,649
Endesa SA
4,733
212,387
Grifols SA(a)
4,067
42,887
Iberdrola SA
95,544
2,239,417
Indra Sistemas SA(a)
1,168
67,254
Industria de Diseno Textil SA
16,198
970,566
Mapfre SA
13,424
65,757
Naturgy Energy Group SA
3,514
110,337
Redeia Corp. SA
6,052
105,900
Repsol SA
16,635
445,112
Telefonica SA
54,730
248,685
 
11,740,548
Sweden — 3.5%
AddTech AB, Cl. B
3,750
136,527
Alfa Laval AB
4,304
257,330
Assa Abloy AB, Cl. B
14,821
567,147
Atlas Copco AB, Cl. A
39,887
771,517
Atlas Copco AB, Cl. B
23,487
397,931
Beijer Ref AB
6,218
87,651
Boliden AB
4,235
223,148
Epiroc AB, Cl. A
9,924
284,789
Epiroc AB, Cl. B
5,600
139,600
EQT AB(a)
7,461
240,665
Essity AB, Cl. B
8,738
231,661
Evolution AB(c)
1,998
139,464
Fastighets AB Balder, Cl. B(b)
9,923
59,211
H & M Hennes & Mauritz AB, Cl. B(a)
7,425
133,110
Hexagon AB, Cl. B
31,292
339,001
Holmen AB, Cl. B
1,085
37,446
Industrivarden AB, Cl. A
1,630
86,628
Industrivarden AB, Cl. C
2,303
121,188
Indutrade AB
4,006
86,202
Investment AB Latour, Cl. B
2,140
49,028
Investor AB, Cl. B
27,055
1,098,923
L E Lundbergforetagen AB, Cl. B
1,087
63,076
Lifco AB, Cl. B
3,325
104,202
Nibe Industrier AB, Cl. B
22,916
103,263
Saab AB, Cl. B
4,795
291,478
Sagax AB, Cl. B
3,355
67,030
Sandvik AB
16,009
671,544
Securitas AB, Cl. B
7,318
122,522
Skandinaviska Enskilda Banken AB, Cl. A
22,543
443,581
Skanska AB, Cl. B
4,925
132,213
SKF AB, Cl. B
5,219
130,329
Spotify Technology SA(b)
2,325
1,038,229
Svenska Cellulosa AB SCA, Cl. B
9,241
105,349
Svenska Handelsbanken AB, Cl. A
21,424
303,648
14
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
Sweden — 3.5% (continued)
Swedbank AB, Cl. A
12,519
439,997
Swedish Orphan Biovitrum AB(b)
2,931
136,069
Tele2 AB, Cl. B
7,961
163,358
Telefonaktiebolaget LM Ericsson, Cl. B
41,559
491,917
Telia Co. AB
35,224
184,192
Trelleborg AB, Cl. B
3,011
123,213
Volvo AB, Cl. B
23,599
823,021
 
11,426,398
Switzerland — 9.7%
ABB Ltd.
23,274
2,339,616
Alcon AG
7,491
561,221
Avolta AG
1,286
70,813
Banque Cantonale Vaudoise(a)
416
65,587
Barry Callebaut AG
55
82,438
Belimo Holding AG
150
138,369
BKW AG
318
63,616
Chocoladefabriken Lindt & Spruengli AG
13
159,381
Chocoladefabriken Lindt & Spruengli AG, PC
2
257,871
Cie Financiere Richemont SA, Cl. A
7,983
1,523,523
Coca-Cola HBC AG
3,299
192,023
DSM-Firmenich AG
2,501
186,875
EMS-Chemie Holding AG
98
83,358
Galderma Group AG
2,692
564,630
Geberit AG
505
341,261
Givaudan SA
136
489,409
Glencore PLC
148,126
1,147,414
Helvetia Baloise Holding AG
1,164
320,000
Holcim AG
7,566
705,225
Julius Baer Group Ltd.
3,085
255,307
Kuehne + Nagel International AG
717
168,368
Logitech International SA
2,255
221,699
Lonza Group AG
1,038
637,665
Nestle SA
38,260
3,880,663
Novartis AG
28,232
4,195,870
Partners Group Holding AG
339
368,581
Roche Holding AG(b)
10,433
4,271,521
Roche Holding AG, BR
474
199,228
Sandoz Group AG
6,174
495,381
Schindler Holding AG
334
112,140
Schindler Holding AG, PC
595
208,464
SGS SA
2,599
281,958
Sika AG
2,271
421,902
Sonova Holding AG
751
164,404
STMicroelectronics NV
10,125
557,928
Straumann Holding AG
1,666
180,594
Swiss Life Holding AG
423
497,005
Swiss Prime Site AG
1,158
200,826
Swiss Re AG
4,437
712,179
Swisscom AG
382
323,496
The Swatch Group AG, BR
424
98,073
UBS Group AG
47,140
2,100,296
15
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
Switzerland — 9.7% (continued)
VAT Group AG(c)
397
297,378
Zurich Insurance Group AG
2,173
1,506,092
 
31,649,648
United Arab Emirates — .0%
NMC Health PLC(b),(d)
4,176
1
United Kingdom — 13.7%
3i Group PLC
14,682
511,322
Admiral Group PLC
3,827
175,878
Airtel Africa PLC(c)
13,275
64,419
Anglo American PLC
16,605
816,743
Associated British Foods PLC
4,704
116,886
AstraZeneca PLC
23,030
4,378,469
Autotrader Group PLC(c)
12,768
86,146
Aviva PLC
44,963
383,764
BAE Systems PLC
44,560
1,239,246
Barclays PLC
205,541
1,200,359
Barratt Redrow PLC
20,829
71,663
BP PLC
233,785
1,845,334
British American Tobacco PLC
32,347
1,899,499
BT Group PLC
88,798
261,575
Bunzl PLC
4,835
159,305
Centrica PLC
68,261
200,029
Coca-Cola Europacific Partners PLC
3,026
286,169
Compass Group PLC
25,251
714,226
Diageo PLC
33,022
663,820
Endeavour Mining PLC
2,959
178,191
Entain PLC
8,725
65,105
GSK PLC
60,519
1,590,340
Haleon PLC
132,234
610,035
Halma PLC
5,626
339,261
HSBC Holdings PLC
255,047
4,674,527
Imperial Brands PLC
11,117
423,141
Informa PLC
18,945
205,987
InterContinental Hotels Group PLC
2,168
313,782
International Consolidated Airlines Group SA
18,018
91,554
Intertek Group PLC
2,363
153,525
J Sainsbury PLC
25,327
113,282
JD Sports Fashion PLC
37,644
34,770
Kingfisher PLC
25,702
101,019
Land Securities Group PLC
9,914
80,393
Legal & General Group PLC
83,048
284,244
Lloyds Banking Group PLC
874,434
1,183,660
London Stock Exchange Group PLC
6,806
883,075
M&G PLC
34,375
142,681
Marks & Spencer Group PLC
31,416
141,425
Melrose Industries PLC
18,743
124,482
National Grid PLC
73,783
1,319,870
NatWest Group PLC
118,761
940,359
Next PLC
1,744
307,590
Pearson PLC
8,473
124,691
Reckitt Benckiser Group PLC
9,575
609,163
16
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.6% (continued)
United Kingdom — 13.7% (continued)
RELX PLC
27,040
987,711
Rentokil Initial PLC
37,329
250,675
Rio Tinto PLC
16,763
1,674,753
Rolls-Royce Holdings PLC
124,710
2,034,210
Schroders PLC
10,359
81,748
Segro PLC
19,440
185,877
Severn Trent PLC
4,031
179,648
Shell PLC
84,635
3,842,021
Smith & Nephew PLC
12,175
188,145
Smiths Group PLC
4,765
166,226
Spirax Group PLC
1,088
107,200
SSE PLC
17,925
644,960
Standard Chartered PLC
28,439
722,797
Standard Life PLC
10,871
112,707
Tesco PLC
94,669
620,720
The Sage Group PLC
14,234
170,588
Unilever PLC
32,383
1,892,774
United Utilities Group PLC
10,126
201,140
Verisure PLC(a),(b)
3,131
38,865
Vodafone Group PLC
275,608
441,056
Whitbread PLC
2,572
78,512
Wise PLC, Cl. A(b)
9,946
142,271
 
44,875,608
United States — .2%
Sunbelt Rentals Holdings, Inc.
6,182
467,798
Total Equity Securities - Common Stocks
(cost $118,367,550)
318,910,350
 
 
 
Preferred
Dividend
Rate (%)
 
 
 
Equity Securities - Preferred Stocks — .3%
Germany — .3%
Bayerische Motoren Werke AG
4.32
828
75,579
Dr. Ing. h.c. F. Porsche AG
2.31
1,599
77,427
Henkel AG & Co. KGaA
2.07
2,371
172,675
Porsche Automobil Holding SE
1.91
2,243
81,714
Sartorius AG
0.74
393
100,356
Volkswagen AG
6.36
3,012
304,804
Total Equity Securities - Preferred Stocks
(cost $712,214)
812,555
 
17
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
1-Day
Yield (%)
 
Shares
Value ($)
Investment Companies — .9%
Registered Investment Companies — .9%
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional
Shares(e)
(cost $2,779,544)
3.70
2,779,544
2,779,544
Total Investments (cost $121,859,308)
98.8
%
322,502,449
Cash and Receivables (Net)
1.2
%
4,043,551
Net Assets
100.0
%
326,546,000
 
ADR—American Depositary Receipt
BR—Bearer Certificate
CVA—Company Voluntary Arrangement
PC—Participation Certificate
REIT—Real Estate Investment Trust
 
(a)
Security, or portion thereof, on loan. At April 30, 2026, the value of the fund’s securities on loan was $3,019,277 and the value of the collateral was
$3,153,638, consisting of U.S. Government & Agency securities. In addition, the value of collateral may include pending sales that are also on loan.
(b)
Non-income producing security.
(c)
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 April 30, 2026, these securities amounted to $3,112,212 or 1.0% of net assets.
(d)
The fund held Level 3 securities at April 30, 2026. These securities were valued at $1 or .0% of net assets.
(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.
 
Affiliated Issuers
Description
Value ($)
10/31/2025
Purchases ($)†
Sales ($)
Value ($)
4/30/2026
Dividends/
Distributions ($)
Registered Investment Companies - .9%
Dreyfus Institutional Preferred Government Plus Money
Market Fund, Institutional Shares - .9%
2,480,767
34,485,300
(34,186,523)
2,779,544
50,702
Investment of Cash Collateral for Securities Loaned - .0%
Dreyfus Institutional Preferred Government Plus Money
Market Fund, Institutional Shares - .0%
252,988
3,743,442
(3,996,430)
-
2,406††
Total - .9%
2,733,755
38,228,742
(38,182,953)
2,779,544
53,108
 
†
Includes reinvested dividends/distributions.
††
Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and
other payments to and from borrowers of securities.
 
Futures
Description
Number of
Contracts
Expiration
Notional
Value ($)
Market
Value ($)
Unrealized
Appreciation ($)
Futures Long
MSCI EAFE Index
30
6/19/2026
4,341,831
4,569,150
227,319
Gross Unrealized Appreciation
 
 
227,319
See notes to financial statements.
18
STATEMENT OF ASSETS AND LIABILITIES 
April 30, 2026 (Unaudited) 
 
Cost
Value
Assets ($):
Investments in securities—See Schedule of Investments
(including securities on loan, valued at $3,019,277)—Note 1(c):
Unaffiliated issuers
119,079,764
319,722,905
Affiliated issuers
2,779,544
2,779,544
Cash
44
Cash denominated in foreign currency
446,511
449,087
Cash collateral held by broker—Note 4
192,000
Tax reclaim receivable—Note 1(b)
2,037,364
Dividends and securities lending income receivable
1,169,989
Receivable for shares of Common Stock subscribed
311,873
Receivable for futures variation margin—Note 4
103,918
 
326,766,724
Liabilities ($):
Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(b)
128,784
Payable for shares of Common Stock redeemed
77,728
Directors’ fees and expenses payable
14,212
 
220,724
Net Assets ($)
326,546,000
Composition of Net Assets ($):
Paid-in capital
120,688,884
Total distributable earnings (loss)
205,857,116
Net Assets ($)
326,546,000
 
Net Asset Value Per Share
Investor Shares
Class I
Net Assets ($)
235,186,416
91,359,584
Shares Outstanding
9,233,541
3,590,208
Net Asset Value Per Share ($)
25.47
25.45
See notes to financial statements.
19
STATEMENT OF OPERATIONS
Six Months Ended April 30, 2026 (Unaudited) 
 
 
Investment Income ($):
Income:
Cash dividends (net of $415,392 foreign taxes withheld at source):
Unaffiliated issuers
4,497,489
Affiliated issuers
50,702
Interest
16,045
Affiliated income net of rebates from securities lending—Note 1(c)
2,406
Total Income
4,566,642
Expenses:
Management fee—Note 3(a)
570,882
Shareholder servicing costs—Note 3(b)
296,483
Directors’ fees—Notes 3(a) and 3(c)
14,480
Loan commitment fees—Note 2
3,253
Interest expense—Note 2
215
Total Expenses
885,313
Less—Directors’ fees reimbursed by
BNY Mellon Investment Adviser, Inc.—Note 3(a)
(14,480
)
Net Expenses
870,833
Net Investment Income
3,695,809
Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):
Net realized gain (loss) on investments and foreign currency transactions
18,965,750
Net realized gain (loss) on futures
247,834
Net Realized Gain (Loss)
19,213,584
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions
9,479,054
Net change in unrealized appreciation (depreciation) on futures
244,720
Net Change in Unrealized Appreciation (Depreciation)
9,723,774
Net Realized and Unrealized Gain (Loss) on Investments
28,937,358
Net Increase in Net Assets Resulting from Operations
32,633,167
See notes to financial statements.
20
STATEMENT OF CHANGES IN NET ASSETS
  
 
Six Months Ended
April 30, 2026
(Unaudited)
Year Ended October 31, 2025
 
Operations ($):
Net investment income
3,695,809
7,368,229
Net realized gain (loss) on investments
19,213,584
19,176,602
Net change in unrealized appreciation (depreciation) on investments
9,723,774
38,357,319
Net Increase (Decrease) in Net Assets Resulting from Operations
32,633,167
64,902,150
Distributions ($):
Distributions to shareholders:
Investor Shares
(10,655,410)
(6,469,086)
Class I
(4,125,019)
(2,981,216)
Total Distributions
(14,780,429)
(9,450,302)
Capital Stock Transactions ($):
Net proceeds from shares sold:
Investor Shares
12,451,521
27,752,073
Class I
6,247,286
9,088,541
Distributions reinvested:
Investor Shares
10,415,465
6,347,642
Class I
2,236,505
1,400,751
Cost of shares redeemed:
Investor Shares
(39,702,035)
(55,021,189)
Class I
(13,476,599)
(27,906,787)
Increase (Decrease) in Net Assets from Capital Stock Transactions
(21,827,857)
(38,338,969)
Total Increase (Decrease) in Net Assets
(3,975,119)
17,112,879
Net Assets ($):
Beginning of Period
330,521,119
313,408,240
End of Period
326,546,000
330,521,119
Capital Share Transactions (Shares):
Investor Shares(a)
Shares sold
502,054
1,279,093
Shares issued for distributions reinvested
434,884
332,163
Shares redeemed
(1,609,205)
(2,562,937)
Net Increase (Decrease) in Shares Outstanding
(672,267)
(951,681)
Class I(a)
Shares sold
250,911
429,791
Shares issued for distributions reinvested
93,538
73,454
Shares redeemed
(547,032)
(1,284,595)
Net Increase (Decrease) in Shares Outstanding
(202,583)
(781,350)
 
(a)
During the period ended October 31, 2025, 13,026 Class I shares representing $287,043 were exchanged for 13,019 Investor shares.
See notes to financial statements.
21
FINANCIAL HIGHLIGHTS
The following tables describe the performance for each share class for the fiscal periods indicated. All information (except portfolio turnover rate) reflects financial results for a single fund share. Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. 
 
Six Months Ended
April 30, 2026
(Unaudited) 
Year Ended October 31,
Investor Shares
2025
2024
2023
2022
2021
Per Share Data ($):
 
 
 
 
 
Net asset value, beginning of period
24.13
20.31
17.27
15.40
20.78
15.85
Investment Operations:
Net investment income(a)
.27
.49
.46
.44
.41
.39
Net realized and unrealized gain (loss) on
investments
2.16
3.93
3.19
1.81
(5.10
)
4.85
Total from Investment Operations
2.43
4.42
3.65
2.25
(4.69
)
5.24
Distributions:
Dividends from net investment income
(.81
)
(.60
)
(.61
)
(.38
)
(.69
)
(.31
)
Dividends from net realized gain on
investments
(.28
)
-
-
-
-
-
Total Distributions
(1.09
)
(.60
)
(.61
)
(.38
)
(.69
)
(.31
)
Net asset value, end of period
25.47
24.13
20.31
17.27
15.40
20.78
Total Return (%)
10.37
(b)
22.55
21.33
14.67
(23.36
)
33.21
Ratios/Supplemental Data (%):
 
 
 
 
 
Ratio of total expenses to average net assets
.61
(c)
.61
.61
.61
.61
.61
Ratio of net expenses
to average net assets(d)
.60
(c)
.60
.60
.61
.60
.60
Ratio of net investment income to average
net assets(d)
2.20
(c)
2.25
2.32
2.45
2.27
2.00
Portfolio Turnover Rate
1.35
(b)
3.73
3.67
2.40
3.41
2.99
Net Assets, end of period ($ x 1,000)
235,186
238,991
220,477
202,830
229,028
303,693
 
(a)
Based on average shares outstanding.
(b)
Not annualized.
(c)
Annualized.
(d)
Amount inclusive of Directors’ fees reimbursed by BNY Mellon Investment Adviser, Inc.
See notes to financial statements.
22
 
 
Six Months Ended
April 30, 2026
(Unaudited) 
Year Ended October 31,
Class I Shares
2025
2024
2023
2022
2021
Per Share Data ($):
 
 
 
 
 
Net asset value, beginning of period
24.13
20.32
17.28
15.41
20.80
15.86
Investment Operations:
Net investment income(a)
.30
.54
.51
.48
.47
.45
Net realized and unrealized gain (loss) on
investments
2.17
3.93
3.19
1.81
(5.12
)
4.84
Total from Investment Operations
2.47
4.47
3.70
2.29
(4.65
)
5.29
Distributions:
Dividends from net investment income
(.87
)
(.66
)
(.66
)
(.42
)
(.74
)
(.35
)
Dividends from net realized gain on
investments
(.28
)
-
-
-
-
-
Total Distributions
(1.15
)
(.66
)
(.66
)
(.42
)
(.74
)
(.35
)
Net asset value, end of period
25.45
24.13
20.32
17.28
15.41
20.80
Total Return (%)
10.56
(b)
22.83
21.64
14.96
(23.18
)
33.58
Ratios/Supplemental Data (%):
 
 
 
 
 
Ratio of total expenses to average net assets
.36
(c)
.36
.36
.36
.36
.36
Ratio of net expenses
to average net assets(d)
.35
(c)
.35
.35
.36
.35
.35
Ratio of net investment income to average
net assets(d)
2.45
(c)
2.50
2.57
2.69
2.60
2.26
Portfolio Turnover Rate
1.35
(b)
3.73
3.67
2.40
3.41
2.99
Net Assets, end of period ($ x 1,000)
91,360
91,530
92,931
95,874
120,712
242,341
 
(a)
Based on average shares outstanding.
(b)
Not annualized.
(c)
Annualized.
(d)
Amount inclusive of Directors’ fees reimbursed by BNY Mellon Investment Adviser, Inc.
See notes to financial statements.
23
NOTES TO FINANCIAL STATEMENTS (Unaudited)
NOTE 1—
Significant Accounting Policies:
BNY Mellon International Stock Index Fund (the “fund”) is a separate diversified series of BNY Mellon Index Funds, Inc. (the “Company”), which is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end management investment company and operates as a series company currently offering three series, including the fund. The fund’s investment objective is to seek to match the performance of the Morgan Stanley Capital International Europe, Australasia, Far East Index (MSCI EAFE®). BNY Mellon Investment Adviser, Inc. (the “Adviser”), a wholly-owned subsidiary of The Bank of New York Mellon Corporation (“BNY”), serves as the fund’s investment adviser.
BNY Mellon Securities Corporation (the “Distributor”), a wholly-owned subsidiary of the Adviser, is the distributor of the fund’s shares, which are sold to the public without a sales charge. The fund is authorized to issue 300 million shares of $.001 par value Common Stock. The fund currently has authorized two classes of shares: Investor shares (200 million shares authorized) and Class I (100 million shares authorized). Investor shares are sold primarily to retail investors through financial intermediaries and bear shareholder services plan fees. Class I shares are sold primarily to bank trust departments and other financial service providers (including BNY and its affiliates), acting on behalf of customers having a qualified trust or an investment account or relationship at such institution, and bear no shareholder services plan fees. Other differences between the classes include the services offered to and the expenses borne by each class, and certain voting rights. Income, expenses (other than expenses attributable to a specific class), and realized and unrealized gains or losses on investments are allocated to each class of shares based on its relative net assets.
The Company accounts separately for the assets, liabilities and operations of each series. Expenses directly attributable to each series are charged to that series’ operations; expenses which are applicable to all series of the Company are allocated among them on a pro rata basis.
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 Company enters into contracts that contain a variety of indemnifications. The fund’s maximum exposure under these arrangements is unknown. The fund does not anticipate recognizing any loss related to these arrangements.
(a) Portfolio valuation: 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:
Equity investments generally are valued at the last sale price on the day of valuation on the securities exchange or national securities market on which such securities primarily are traded. Securities listed on Nasdaq markets generally will be valued at the official closing
24
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
price. If there are no transactions in a security, or no official closing prices for a Nasdaq market-listed security on that day, the security will be valued at the average of the most recent bid and asked prices. Bid price is used when no asked price is available. Open short positions for which there is no sale price on a given day are valued at the lowest asked price. Investments in other open-end investment companies are valued at their reported net asset values (“NAVs”) each day. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.
Fair value of foreign equity securities may be determined with the assistance of a pricing service using correlations between the movement of prices of foreign securities and indexes of domestic securities and other appropriate indicators, such as closing market prices of relevant ADRs and futures contracts. The valuation of a security based on this fair value process may differ from the security’s most recent closing price and from the prices used by other mutual funds to calculate their NAVs. Foreign securities held by a fund may trade on days when the fund does not calculate its NAV and thus may affect the fund’s NAV on days when investors will not be able to purchase or sell (redeem) fund shares. Utilizing these techniques may result in transfers between Level 1 and Level 2 of the fair value hierarchy.
Restricted securities, as well as securities or other assets for which recent market quotations or official closing prices are not readily available or are determined not to reflect accurately fair value (such as when the value of a security has been materially affected by events occurring 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 NAV), or which are not valued by the Service, are valued at fair value as determined in good faith based on procedures approved by the Company’s Board of Directors (the “Board”). Fair value of investments is determined by the Adviser, as the fund’s valuation designee pursuant to Rule 2a-5 under the Act, using such information as it deems appropriate under the circumstances. The factors that may be considered when fair valuing a security include 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. Using fair value to price investments may result in a value that is different from a security’s most recent closing price and from the prices used by other mutual funds to calculate their NAVs. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.
Market quotations of foreign securities in foreign currencies and any fund assets or liabilities initially expressed in terms of foreign currency are translated into U.S. dollars at the spot rate.
Futures contracts will be valued at the most recent settlement price and are generally categorized within Level 1 of the fair value hierarchy.
The following is a summary of the inputs used as of April 30, 2026 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
3,678,579
315,231,770††
1
318,910,350
Equity Securities - Preferred Stocks
—
812,555††
—
812,555
Investment Companies
2,779,544
—
—
2,779,544
 
6,458,123
316,044,325
1
322,502,449
Other Financial Instruments:
Futures†††
227,319
—
—
227,319
 
227,319
—
—
227,319
 
†
See Schedule 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, but only variation margin on exchange-traded and centrally cleared derivatives,
if any, are reported in the Statement of Assets and Liabilities.
(b) Foreign currency transactions: The fund does not isolate that portion of the results of operations resulting from changes in foreign
25
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
exchange rates on investments from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments.
Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized on securities transactions between trade and settlement date, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the fund’s books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the value of assets and liabilities other than investments resulting from changes in exchange rates. Foreign currency gains and losses on foreign currency transactions are also included with net realized and unrealized gain or loss on investments.
Foreign taxes: The fund may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the fund invests. These foreign taxes, if any, are paid by the fund and are reflected in the Statement of Operations, if applicable. Foreign taxes payable or deferred or those subject to reclaims as of April 30, 2026, if any, are disclosed in the fund’s Statement of Assets and Liabilities.
(c) Securities transactions and investment income: Securities transactions are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income is recognized on the ex-dividend date and interest income, including, where applicable, accretion of discount and amortization of premium on investments, is recognized on the accrual basis.
Pursuant to a securities lending agreement with BNY, 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 the Adviser, or U.S. Government and Agency securities. Any non-cash collateral received cannot be sold or re-pledged by the fund, except in the event of borrower default, and is not reflected in the Statement of Assets and Liabilities. The securities on loan, if any, are also disclosed in the fund’s Schedule of Investments. 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, BNY 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. During the period ended April 30, 2026, BNY earned $327 from the lending of the fund’s portfolio securities, pursuant to the securities lending agreement.
For financial reporting purposes, the fund elects not to offset assets and liabilities subject to a securities lending agreement, if any, in the Statement of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statement of Assets and Liabilities. As of April 30, 2026, the fund had securities lending and the impact of netting of assets and liabilities and the offsetting of collateral pledged or received, if any, based on contractual netting/set-off provisions in the securities lending agreement are detailed in the following table: 
Assets ($)
 
Gross amount of securities loaned, at
value, as disclosed in the Statement
of Assets and Liabilities
3,019,277
Collateral (received)/posted not offset
in the Statement of
Assets and Liabilities
(3,019,277
)†
Net amount
-
 
†
The value of the related collateral received by the fund exceeded the value of the securities loaned by the fund pursuant to the securities lending agreement. In addition,
the value of collateral may include pending sales that are also on loan. See Schedule of Investments for detailed information regarding collateral received for open
securities lending.
(d) Affiliated issuers: Investments in other investment companies advised by the Adviser are considered “affiliated” under the Act.
(e) Market Risk: The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in
26
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
financial markets and reduced liquidity in equity, credit and/or fixed-income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies world-wide. Local, regional or global events such as war, military conflicts, acts of terrorism, natural disasters, the spread of infectious illness or other public health issues, recessions, elevated levels of government debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events could have a significant impact on the fund and its investments.
Foreign Investment Risk: To the extent the fund invests in foreign securities, the fund’s performance will be influenced by political, social and economic factors affecting investments in foreign issuers. Special risks associated with investments in foreign issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political and economic instability and differing auditing and legal standards.
Indexing Strategy Risk: The fund uses an indexing strategy. It does not attempt to manage market volatility, use defensive strategies or reduce the effects of any long-term periods of poor index performance. The correlation between fund and index performance may be affected by the fund’s expenses and/or use of sampling techniques, changes in securities markets, changes in the composition of the index and the timing of purchases and redemptions of fund shares.
(f) Dividends and distributions to shareholders: Dividends and distributions are recorded on the ex-dividend date. Dividends from net investment income and dividends from net realized capital gains, if any, are normally declared and paid annually, but the fund may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended (the “Code”). To the extent that net realized capital gains can be offset by capital loss carryovers, it is the policy of the fund not to distribute such gains. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
(g) Federal income taxes: It is the policy of the fund to continue to qualify as a regulated investment company, if such qualification is in the best interests of its shareholders, by complying with the applicable provisions of the Code, and to make distributions of taxable income and net realized capital gain sufficient to relieve it from substantially all federal income and excise taxes.
As of and during the period ended April 30, 2026, the fund did not have any liabilities for any uncertain tax positions. The fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During the period ended April 30, 2026, the fund did not incur any interest or penalties.
Each tax year in the three-year period ended October 31, 2025 remains subject to examination by the Internal Revenue Service and state taxing authorities.
The tax character of distributions paid to shareholders during the fiscal year ended October 31, 2025 was as follows: ordinary income $9,450,302. The tax character of current year distributions will be determined at the end of the current fiscal year.
(h) Operating segment reporting: In accordance with FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures (“ASU 2023-07”), the fund has operated and been managed as a single reportable segment, generating returns through dividends, interest, and/or gains from investments aligned with its single stated investment objective as outlined in the fund’s prospectus. The fund’s accounting policies are consistent with those described in these Notes to Financial Statements. The chief operating decision maker (“CODM”) is represented by BNY Investments and is comprised of Senior Management and Directors of BNY Investments. The CODM considers the net increase in net assets resulting from operations when deciding whether to purchase additional investments or make distributions to shareholders. Detailed financial information for the fund is presented in these financial statements, including total assets and liabilities in the Statement of Assets and Liabilities, investments held in the Schedule of Investments, results of operations and significant segment expenses in the Statement of Operations, and additional performance information—such as total return, portfolio turnover, and ratios—in the Financial Highlights.
NOTE 2—
Bank Lines of Credit:
The fund participates with other long-term open-end funds managed by the Adviser in a $738 million unsecured credit facility led by Citibank, N.A. (the “Citibank Credit Facility”) and a $300 million unsecured credit facility provided by BNY (the “BNY Credit Facility”), each to be utilized primarily for temporary or emergency purposes, including the financing of redemptions (each, a “Facility”). The Citibank Credit Facility is available in two tranches: (i) Tranche A is in an amount equal to $618 million and is available to all long-term open-ended funds, including the fund, and (ii) Tranche B is an amount equal to $120 million and is available only to BNY
27
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
Mellon Floating Rate Income Fund, a series of BNY Mellon Investment Funds IV, Inc. In connection therewith, the fund has agreed to pay its pro rata portion of commitment fees for Tranche A of the Citibank Credit Facility and the BNY Credit Facility. Interest is charged to the fund based on rates determined pursuant to the terms of the respective Facility at the time of borrowing.
During the period ended April 30, 2026, the fund was charged $215 for interest expense. These fees are included in Interest expense in the Statement of Operations. The average amount of borrowings outstanding under the Citibank Credit Facility during the period ended April 30, 2026 was approximately $9,392 with a related weighted average annualized interest rate of 4.62%. As of April 30, 2026, the fund has no outstanding loan balance from either Facility.
NOTE 3—
Management Fee and Other Transactions with Affiliates:
(a) Pursuant to a management agreement with the Adviser, the management fee is computed at the annual rate of .35% of the value of the fund’s average daily net assets and is payable monthly. The Adviser has agreed in its management agreement with the fund to pay all of the fund’s expenses, except management fees, interest expenses, brokerage commissions, and commitment fees on borrowings, if any, fees pursuant to any distribution or shareholder services plan adopted by the fund, fees and expenses of the non-interested board members and their counsel and independent counsel to the fund, and any extraordinary expenses. The Adviser has further agreed to reduce its fees in an amount equal to the fund’s allocable portion of the fees and expenses of the non-interested board members and the fees and expenses of independent counsel to the fund and to the non-interested board members. These provisions in the management agreement may not be amended without the approval of the fund’s shareholders. During the period ended April 30, 2026, fees reimbursed by the Adviser amounted to $14,480.
(b) Under the shareholder services plan (the “Shareholder Services Plan”), Investor shares pay the Distributor at an annual rate of .25% of the value of their average daily net assets for the provision of certain services. The services provided may include personal services relating to shareholder accounts, such as answering shareholder inquiries regarding the fund, and services related to the maintenance of shareholder accounts. The Distributor may make payments to service agents (securities dealers, financial institutions or other industry professionals) with respect to these services. The Distributor determines the amounts to be paid to service agents. During the period ended April 30, 2026, Investor shares were charged $296,483 pursuant to the Shareholder Services Plan.
The fund has an arrangement with The Bank of New York Mellon (the “Custodian”), a subsidiary of BNY and an affiliate of the Adviser, whereby the fund will receive interest income or be charged overdraft fees when cash balances are maintained. For financial reporting purposes, the fund includes this interest income and overdraft fees, if any, as interest income in the Statement of Operations.
The components of “Due to BNY Mellon Investment Adviser, Inc. and affiliates” in the Statement of Assets and Liabilities consist of: management fee of $92,853, Shareholder Services Plan fees of $47,761, which are offset against an expense reimbursement currently in effect in the amount of $11,830.
(c) Each board member of the fund also serves as a board member of other funds in the BNY Mellon Family of Funds complex. Annual retainer fees and attendance fees are allocated to each fund based on net assets.
NOTE 4—
Securities Transactions:
The aggregate amount of purchases and sales of investment securities, excluding short-term securities and derivatives, during the period ended April 30, 2026, amounted to $4,393,394 and $38,702,018, respectively.
Derivatives: A derivative is a financial instrument whose performance is derived from the performance of another asset. Rule 18f-4 under the Act regulates the use of derivatives transactions for certain funds registered under the Act. Each type of derivative instrument that was held by the fund during the period ended April 30, 2026 is discussed below.
Deposits with Broker: The amount included in Cash collateral held by broker in the Statement of Asset and Liabilities represents cash balances that are held by a broker, including collateral required for derivative contracts. Any income earned on cash balances held by a broker is recorded as interest income to the fund.
Futures: In the normal course of pursuing its investment objective, the fund is exposed to market risk, including equity price risk, as a result of changes in value of underlying financial instruments. The fund invests in futures in order to manage its exposure to or protect against changes in the market. A futures contract represents a commitment for the future purchase or a sale of an asset at a specified date. Upon entering into such contracts, these investments require initial margin deposits with a counterparty, which consist of cash or cash equivalents. The amount of these deposits is determined by the exchange or Board of  Trade on which the contract is traded and is subject to change. Accordingly, variation margin payments are received or made to reflect daily unrealized gains or losses which are
28
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
recorded in the Statement of Operations. When the contracts are closed, the fund recognizes a realized gain or loss which is reflected in the Statement of Operations. There is minimal counterparty credit risk to the fund with futures since they are exchange traded, and the exchange guarantees the futures against default. Futures open at April 30, 2026 are set forth in the fund’s Schedule of Investments.
The following tables show the  fund’s exposure to different types of market risk as it relates to the Statement of Assets and Liabilities and the Statement of Operations, respectively.
Fair value of derivative instruments as of April 30, 2026 is shown below: 
 
Derivative
Assets ($)
 
Derivative
Liabilities ($)
Equity Risk
227,319
(1)
Equity Risk
-
Gross fair value of derivative contracts
227,319
 
-
 
Statement of Assets and Liabilities location:
(1)
Includes cumulative appreciation (depreciation) on futures as reported in the Schedule of Investments, but only the unpaid variation margin is reported in the
Statement of Assets and Liabilities.
The effect of derivative instruments in the Statement of Operations during the period ended April 30, 2026 is shown below: 
Amount of realized gain (loss) on derivatives recognized in income ($)
Underlying risk
Futures(1)
Total
Equity
247,834
247,834
Total
247,834
247,834
 
Net change in unrealized appreciation (depreciation) on derivatives recognized in income ($)
Underlying risk
Futures(2)
Total
Equity
244,720
244,720
Total
244,720
244,720
 
Statement of Operations location:
(1)
Net realized gain (loss) on futures.
(2)
Net change in unrealized appreciation (depreciation) on futures.
The following table summarizes the monthly average market value of derivatives outstanding during the period ended April 30, 2026: 
 
Average Market Value ($)
Futures:
Equity Futures Long
3,651,374
At April 30, 2026, accumulated net unrealized appreciation on investments inclusive of derivative contracts was $200,870,460, consisting of $203,823,011 gross unrealized appreciation and $2,952,551 gross unrealized depreciation.
At April 30, 2026, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Schedule of Investments).
29
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies (Unaudited)
N/A
30
Item 9. Proxy Disclosures for Open-End Management Investment Companies (Unaudited)
N/A
31
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies (Unaudited)
Each board member also serves as a board member of other funds in the BNY Mellon Family of Funds complex, and annual retainer fees and meeting attendance fees are allocated to each fund based on net assets. The Adviser reimburses the fund for the fees and expenses of the non-interested board members. Compensation paid by the fund to the board members and board member fees reimbursed by the Adviser during the period are within Item 7. Statement of Operations as Directors’ and Directors’ fees reimbursed by BNY Mellon Investment Adviser, Inc., respectively.
32
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited)
At a meeting of the fund’s Board of Directors (the “Board”) held on March 5-6, 2026, the Board considered the renewal of the fund’s Management Agreement pursuant to which the Adviser provides the fund with investment advisory and administrative services (the “Agreement”). The Board members, none of whom are “interested persons” (as defined in the Investment Company Act of 1940, as amended) of the fund, were assisted in their review by independent legal counsel and met with counsel in executive session separate from representatives of the Adviser. In considering the renewal of the Agreement, the Board considered several factors that it believed to be relevant, including those discussed below. The Board did not identify any one factor as dispositive, and each Board member may have attributed different weights to the factors considered.
Analysis of Nature, Extent, and Quality of Services Provided to the Fund. The Board considered information provided to it at the meeting and in previous presentations from representatives of the Adviser regarding the nature, extent, and quality of the services provided to funds in the BNY fund complex, including the fund. The Adviser provided the number of open accounts in the fund, the fund’s asset size and the allocation of fund assets among distribution channels. The Adviser also had previously provided information regarding the diverse intermediary relationships and distribution channels of funds in the BNY fund complex (such as retail direct or intermediary, in which intermediaries typically are paid by the fund and/or the Adviser) and the Adviser’s corresponding need for broad, deep, and diverse resources to be able to provide ongoing shareholder services to each intermediary or distribution channel, as applicable to the fund.
The Board also considered research support available to, and portfolio management capabilities of, the fund’s portfolio management personnel and that the Adviser also provides oversight of day-to-day fund operations, including fund accounting and administration and assistance in meeting legal and regulatory requirements. The Board also considered the Adviser’s extensive administrative, accounting and compliance infrastructures.
Comparative Analysis of the Fund’s Performance and Management Fee and Expense Ratio. The Board reviewed reports prepared by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent provider of investment company data based on classifications provided by Thomson Reuters Lipper (“Lipper”), which included information comparing (1) the performance of the fund’s Investor Class shares with the performance of a group of institutional international large-cap core funds selected by Broadridge as comparable to the fund (the “Performance Group”) and with a broader group of funds consisting of all retail and institutional international large-cap core funds (the “Performance Universe”), all for various periods ended December 31, 2025, and (2) the fund’s actual and contractual management fees and total expenses with those of the same group of funds in the Performance Group (the “Expense Group”) and with a broader group of funds consisting of institutional international large-cap core funds, excluding outliers (the “Expense Universe”), the information for which was derived in part from fund financial statements available to Broadridge as of the date of its analysis. The Adviser previously had furnished the Board with a description of the methodology Broadridge used to select the Performance Group and Performance Universe and the Expense Group and Expense Universe.
Performance Comparisons. Representatives of the Adviser stated that the usefulness of performance comparisons may be affected by a number of factors, including different investment limitations and policies that may be applicable to the fund and comparison funds and the end date selected. The Board also considered the fund’s performance in light of overall financial market conditions. The Board discussed with representatives of the Adviser the results of the comparisons and considered that the fund’s total return performance was below the Performance Group and Performance Universe medians for all periods under review. It was noted that there were only three other funds in the Performance Group and that the Performance Universe was not limited to index funds. The Adviser also provided a comparison of the fund’s calendar year total returns to the returns of the fund’s benchmark index.
Management Fee and Expense Ratio Comparisons. The Board reviewed and considered the contractual management fee rate payable by the fund to the Adviser in light of the nature, extent and quality of the management services provided by the Adviser. In addition, the Board reviewed and considered the actual management fee rate paid by the fund over the fund’s last fiscal year. The Board also reviewed the range of actual and contractual management fees and total expenses as a percentage of average net assets of the Expense Group and Expense Universe funds and discussed the results of the comparisons.
The Board noted that the Adviser pays all fund expenses, other than the actual management fee and certain other expenses. Because of the fund’s “unitary” fee structure, the Board recognized that the fund’s fees and expenses will vary within a much smaller range and the Adviser will bear the risk that fund expenses may increase over time. On the other hand, the Board noted that it is possible that the Adviser could earn a profit on the fees charged under the Agreement and would benefit from any price decreases in third-party services
33
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited) (continued)
covered by the Agreement. Taking into account the fund’s “unitary” fee structure, the Board considered that the fund’s contractual management fee was higher than the Expense Group median contractual management fee, the fund’s actual management fee was higher than the Expense Group median and higher than the Expense Universe median actual management fee, and the fund’s total expenses were higher than the Expense Group median and higher than the Expense Universe median total expenses.
Representatives of the Adviser reviewed with the Board the management or investment advisory fees paid by the one fund advised by the Adviser that is in the same Lipper category as the fund (the “Similar Fund”) and explained the nature of the Similar Fund. They discussed differences in fees paid and the relationship of the fees paid in light of any differences in the services provided and other relevant factors, noting the fund’s “unitary” fee structure. The Board considered the relevance of the fee information provided for the Similar Fund to evaluate the appropriateness of the fund’s management fee. Representatives of the Adviser noted that there were no separate accounts and/or other types of client portfolios advised by the Adviser that are considered to have similar investment strategies and policies as the fund.
Analysis of Profitability and Economies of Scale. Representatives of the Adviser reviewed the expenses allocated and profit received by the Adviser and its affiliates and the resulting profitability percentage for managing the fund and the aggregate profitability percentage to the Adviser and its affiliates for managing the funds in the BNY fund complex, and the method used to determine the expenses and profit. The Board concluded that the profitability results were not excessive, given the services rendered and service levels provided by the Adviser and its affiliates. The Board had been provided with information prepared by an independent consulting firm regarding the Adviser’s approach to allocating costs to, and determining the profitability of, individual funds and the entire BNY fund complex. The consulting firm also had analyzed where any economies of scale might emerge in connection with the management of a fund.
The Board considered, on the advice of its counsel, the profitability analysis (1) as part of its evaluation of whether the fee under the Agreement, considered in relation to the mix of services provided by the Adviser, including the nature, extent and quality of such services, supported the renewal of the Agreement and (2) in light of the relevant circumstances for the fund and the extent to which economies of scale would be realized if the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders. Representatives of the Adviser stated that a discussion of economies of scale is predicated on a fund having achieved a substantial size with increasing assets and that, if a fund’s assets had been stable or decreasing, the possibility that the Adviser may have realized any economies of scale would be less. Representatives of the Adviser also stated that, as a result of shared and allocated costs among funds in the BNY fund complex, the extent of economies of scale could depend substantially on the level of assets in the complex as a whole, so that increases and decreases in complex-wide assets can affect potential economies of scale in a manner that is disproportionate to, or even in the opposite direction from, changes in the fund’s asset level. The Board also considered potential benefits to the Adviser from acting as investment adviser and took into consideration that there were no soft dollar arrangements in effect for trading the fund’s investments.
At the conclusion of these discussions, the Board agreed that it had been furnished with sufficient information to make an informed business decision with respect to the renewal of the Agreement. Based on the discussions and considerations as described above, the Board concluded and determined as follows.
●The Board concluded that the nature, extent and quality of the services provided by the Adviser are satisfactory and appropriate.
●The Board was generally satisfied with the fund’s overall performance.
●The Board concluded that the fee paid to the Adviser continued to be appropriate under the circumstances and in light of the factors and the totality of the services provided as discussed above.
●The Board determined that the economies of scale which may accrue to the Adviser and its affiliates in connection with the management of the fund had been adequately considered by the Adviser in connection with the fee rate charged to the fund pursuant to the Agreement and that, to the extent in the future it were determined that material economies of scale had not been shared with the fund, the Board would seek to have those economies of scale shared with the fund.
In evaluating the Agreement, the Board considered these conclusions and determinations and also relied on its previous knowledge, gained through meetings and other interactions with the Adviser and its affiliates, of the Adviser and the services provided to the fund by the Adviser. The Board also relied on information received on a routine and regular basis throughout the year relating to the operations of the fund and the investment management and other services provided under the Agreement, including information on the
34
investment performance of the fund in comparison to similar mutual funds and benchmark performance indices; general market outlook as applicable to the fund; and compliance reports. In addition, the Board’s consideration of the contractual fee arrangements for the fund had the benefit of a number of years of reviews of the Agreement for the fund, or substantially similar agreements for other BNY funds that the Board oversees, during which lengthy discussions took place between the Board and representatives of the Adviser. Certain aspects of the arrangements may receive greater scrutiny in some years than in others, and the Board’s conclusions may be based, in part, on its consideration of the fund’s arrangements, or substantially similar arrangements for other BNY funds that the Board oversees, in prior years. The Board determined to renew the Agreement.
35
© 2026 BNY Mellon Securities Corporation
Code-0079NCSRSA0426 
 
BNY Mellon S&P 500 Index Fund
SEMI-ANNUAL FINANCIALS AND OTHER INFORMATION
April 30, 2026
 
Class
Ticker
Single Share
PEOPX
Save time. Save paper. View your next shareholder report online as soon as it’s available. Log into www.bny.com/investments and sign up for eCommunications. It’s simple and only takes a few minutes.
The views expressed in this report reflect those of the portfolio manager(s) only through the end of the period covered and do not necessarily represent the views of BNY Mellon Investment Adviser, Inc. or any other person in the BNY Mellon Investment Adviser, Inc. organization. Any such views are subject to change at any time based upon market or other conditions and BNY Mellon Investment Adviser, Inc. disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a fund in the BNY Mellon Family of Funds are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any fund in the BNY Mellon
Family of Funds.
Not FDIC-Insured • Not Bank-Guaranteed • May Lose Value
Contents
The Fund
Please note the Semi-Annual Financials and Other Information only contains Items 7-11 required in Form N-CSR. All other required items will be filed with the Securities and Exchange Commission (the “SEC”).
 
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies. 
BNY Mellon S&P 500 Index Fund
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.2%
Automobiles & Components — 1.9%
Aptiv PLC(a)
8,862
534,024
Ford Motor Co.
170,294
2,057,152
General Motors Co.
39,441
3,032,619
Tesla, Inc.(a)
121,796
46,481,008
 
52,104,803
Banks — 3.4%
Bank of America Corp.
287,356
15,362,052
Citigroup, Inc.
75,657
9,682,583
Citizens Financial Group, Inc.
18,027
1,172,656
Fifth Third Bancorp
39,452
2,002,584
Huntington Bancshares, Inc.
89,185
1,494,741
JPMorgan Chase & Co.
116,762
36,573,361
KeyCorp
39,713
878,054
M&T Bank Corp.
6,425
1,404,698
Regions Financial Corp.
37,656
1,075,079
The PNC Financial Services Group, Inc.
17,505
3,903,615
Truist Financial Corp.
54,709
2,817,513
U.S. Bancorp
66,770
3,783,188
Wells Fargo & Co.
133,928
11,012,899
 
91,163,023
Capital Goods — 6.7%
3M Co.
22,806
3,341,535
A.O. Smith Corp.(b)
5,208
322,063
Allegion PLC
3,652
502,077
AMETEK, Inc.
10,008
2,356,884
Axon Enterprise, Inc.(a),(b)
3,355
1,347,905
Builders FirstSource, Inc.(a)
4,578
362,074
Carrier Global Corp.
34,305
2,304,267
Caterpillar, Inc.
20,150
17,935,717
Comfort Systems USA, Inc.
1,544
2,841,346
Cummins, Inc.
5,962
4,000,562
Deere & Co.
10,901
6,430,173
Dover Corp.
5,875
1,330,159
Eaton Corp. PLC
16,899
7,317,436
EMCOR Group, Inc.
1,929
1,720,031
Emerson Electric Co.
24,082
3,382,076
Fastenal Co.
49,640
2,230,325
Fortive Corp.
13,514
808,002
GE Vernova, Inc.
11,672
12,646,145
Generac Holdings, Inc.(a)
2,452
635,632
General Dynamics Corp.
11,028
3,796,940
General Electric Co.
45,420
13,168,621
Honeywell International, Inc.
27,494
5,892,789
Howmet Aerospace, Inc.
17,426
4,235,215
Hubbell, Inc.
2,354
1,196,232
Huntington Ingalls Industries, Inc.
1,771
645,158
IDEX Corp.
3,150
686,228
Illinois Tool Works, Inc.
11,392
2,939,250
3
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.2% (continued)
Capital Goods — 6.7% (continued)
Ingersoll Rand, Inc.
15,304
1,222,177
Johnson Controls International PLC
26,807
3,914,626
L3Harris Technologies, Inc.
8,101
2,596,776
Lennox International, Inc.
1,441
770,776
Lockheed Martin Corp.
8,853
4,585,588
Masco Corp.
8,909
639,844
Nordson Corp.
2,175
627,379
Northrop Grumman Corp.
5,777
3,347,656
Otis Worldwide Corp.
17,079
1,330,113
PACCAR, Inc.
22,478
2,670,386
Parker-Hannifin Corp.
5,455
4,960,886
Pentair PLC
6,758
545,438
Quanta Services, Inc.
6,434
4,682,472
Rockwell Automation, Inc.
4,960
2,028,194
RTX Corp.
58,129
10,234,773
Snap-on, Inc.
2,309
885,271
Stanley Black & Decker, Inc.
7,199
562,674
Textron, Inc.
7,479
717,685
The Boeing Company(a)
33,980
7,782,439
Trane Technologies PLC
9,560
4,708,682
TransDigm Group, Inc.
2,428
2,816,431
United Rentals, Inc.
2,702
2,593,488
Vertiv Holdings Co., Cl. A
16,703
5,486,768
W.W. Grainger, Inc.
1,925
2,235,599
Westinghouse Air Brake Technologies Corp.
7,407
1,999,075
Xylem, Inc.
10,242
1,210,195
 
179,530,233
Commercial & Professional Services — .7%
Automatic Data Processing, Inc.
17,378
3,683,093
Broadridge Financial Solutions, Inc.
4,919
757,428
Cintas Corp.
14,587
2,548,495
Copart, Inc.(a)
38,174
1,263,941
Equifax, Inc.
5,154
896,487
Jacobs Solutions, Inc.
5,154
666,979
Leidos Holdings, Inc.
5,455
813,995
Paychex, Inc.
13,861
1,283,944
Republic Services, Inc.
8,677
1,815,402
Rollins, Inc.
12,350
688,266
Veralto Corp.
10,389
916,310
Verisk Analytics, Inc.
6,045
1,115,242
Waste Management, Inc.
15,982
3,716,614
 
20,166,196
Consumer Discretionary Distribution & Retail — 5.8%
Amazon.com, Inc.(a)
423,047
112,132,838
AutoZone, Inc.(a)
710
2,629,861
Best Buy Co., Inc.
8,668
524,327
Carvana Co.(a)
6,166
2,440,503
eBay, Inc.
19,157
1,982,366
Genuine Parts Co.
5,792
621,076
Lowe’s Companies, Inc.
24,289
5,799,970
O’Reilly Automotive, Inc.(a)
36,221
3,600,368
4
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.2% (continued)
Consumer Discretionary Distribution & Retail — 5.8% (continued)
Pool Corp.
1,524
325,100
Ross Stores, Inc.
13,926
3,172,204
The Home Depot, Inc.
43,112
14,175,226
The TJX Companies, Inc.
47,849
7,500,331
Tractor Supply Co.
22,328
783,713
Ulta Beauty, Inc.(a)
1,905
1,023,899
Williams-Sonoma, Inc.
5,316
963,312
 
157,675,094
Consumer Durables & Apparel — .5%
D.R. Horton, Inc.
11,505
1,770,159
Deckers Outdoor Corp.(a)
5,924
605,433
Garmin Ltd.
7,209
1,810,468
Hasbro, Inc.
5,848
560,472
Lennar Corp., Cl. A
9,614
868,144
Lululemon Athletica, Inc.(a)
4,662
641,958
NIKE, Inc., Cl. B
52,168
2,314,173
NVR, Inc.(a)
119
751,589
PulteGroup, Inc.
8,295
1,014,976
Ralph Lauren Corp.
1,736
622,599
Tapestry, Inc.
8,906
1,291,726
 
12,251,697
Consumer Services — 1.7%
Airbnb, Inc., Cl. A(a)
18,098
2,540,235
Booking Holdings, Inc.
34,900
5,875,764
Carnival Corp.
50,642
1,342,519
Chipotle Mexican Grill, Inc.(a)
56,733
1,928,355
Darden Restaurants, Inc.
4,837
970,109
Domino’s Pizza, Inc.
1,391
472,133
DoorDash, Inc., Cl. A(a)
15,975
2,694,184
Expedia Group, Inc.
5,098
1,266,190
Hilton Worldwide Holdings, Inc.
9,935
3,219,635
Las Vegas Sands Corp.
13,578
741,495
Marriott International, Inc., Cl. A
9,582
3,465,714
McDonald’s Corp.
30,841
9,054,609
MGM Resorts International(a)
8,078
314,557
Norwegian Cruise Line Holdings Ltd.(a)
20,231
367,800
Royal Caribbean Cruises Ltd.
10,862
2,864,961
Starbucks Corp.
49,869
5,252,702
Wynn Resorts Ltd.
3,469
371,565
Yum! Brands, Inc.
11,910
1,901,431
 
44,643,958
Consumer Staples Distribution & Retail — 2.0%
Casey’s General Stores, Inc.
1,441
1,184,718
Costco Wholesale Corp.
19,222
19,501,296
Dollar General Corp.
9,794
1,134,929
Dollar Tree, Inc.(a)
8,060
782,706
Sysco Corp.
20,923
1,563,157
Target Corp.
19,569
2,539,078
The Kroger Company
25,454
1,732,654
Walmart, Inc.
189,836
25,045,063
 
53,483,601
5
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.2% (continued)
Energy — 3.5%
APA Corp.(b)
16,036
653,146
Baker Hughes Co.
42,893
2,988,355
Chevron Corp.
81,178
15,692,519
ConocoPhillips
53,057
6,673,510
Coterra Energy, Inc.
32,687
1,173,790
Devon Energy Corp.
26,504
1,361,511
Diamondback Energy, Inc.
8,015
1,648,124
EOG Resources, Inc.
23,401
3,289,479
EQT Corp.
26,498
1,592,000
Expand Energy Corp.
10,551
1,077,785
Exxon Mobil Corp.
180,976
27,930,026
Halliburton Co.
35,683
1,509,391
Kinder Morgan, Inc.
85,877
2,822,777
Marathon Petroleum Corp.
12,885
3,199,217
Occidental Petroleum Corp.
30,999
1,877,919
ONEOK, Inc.(b)
26,919
2,488,931
Phillips 66
17,497
3,134,588
SLB Ltd.
65,530
3,727,346
Targa Resources Corp.
9,416
2,448,913
Texas Pacific Land Corp.(b)
2,500
1,109,175
The Williams Companies, Inc.
52,574
4,011,922
Valero Energy Corp.
13,173
3,327,236
 
93,737,660
Equity Real Estate Investment Trusts — 1.8%
Alexandria Real Estate Equities, Inc.(c)
6,255
253,390
American Tower Corp.(c)
20,096
3,671,740
AvalonBay Communities, Inc.(c)
6,133
1,122,339
BXP, Inc.(c)
6,242
364,907
Camden Property Trust(c)
4,456
467,969
Crown Castle, Inc.(c)
18,317
1,626,183
Digital Realty Trust, Inc.(c)
14,163
2,845,913
Equinix, Inc.(c)
4,231
4,581,454
Equity Residential(c)
14,779
966,251
Essex Property Trust, Inc.(c)
2,720
715,931
Extra Space Storage, Inc.(c)
9,314
1,334,976
Federal Realty Investment Trust(c)
3,070
340,463
Healthpeak Properties, Inc.(c)
31,338
506,736
Host Hotels & Resorts, Inc.(c)
28,267
597,282
Invitation Homes, Inc.(c)
25,460
732,484
Iron Mountain, Inc.(c)
13,024
1,640,894
Kimco Realty Corp.(c)
29,705
702,226
Mid-America Apartment Communities, Inc.(c)
5,222
674,578
Prologis, Inc.(c)
40,366
5,732,779
Public Storage(c)
6,713
2,030,347
Realty Income Corp.(c)
40,351
2,592,148
Regency Centers Corp.(c)
7,180
558,963
SBA Communications Corp.(c)
4,722
1,044,507
Simon Property Group, Inc.(c)
14,092
2,870,681
UDR, Inc.(c)
12,253
445,274
Ventas, Inc.(c)
20,805
1,827,927
VICI Properties, Inc.(c)
46,939
1,370,619
6
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.2% (continued)
Equity Real Estate Investment Trusts — 1.8% (continued)
Welltower, Inc.(c)
30,119
6,546,064
Weyerhaeuser Co.(c)
32,291
791,775
 
48,956,800
Financial Services — 7.0%
American Express Co.
23,193
7,492,499
Ameriprise Financial, Inc.
3,976
1,887,765
Apollo Global Management, Inc.(b)
20,120
2,589,846
Ares Management Corp., Cl. A
8,652
1,015,745
Berkshire Hathaway, Inc., Cl. B(a)
79,412
37,609,523
BlackRock, Inc.
6,249
6,658,934
Blackstone, Inc.
32,392
4,067,787
Block, Inc.(a)
23,287
1,641,966
Capital One Financial Corp.
27,320
5,226,316
Cboe Global Markets, Inc.
4,538
1,361,808
CME Group, Inc.
15,567
4,480,494
Coinbase Global, Inc., Cl. A(a)
9,739
1,828,692
Corpay, Inc.(a)
3,014
923,701
FactSet Research Systems, Inc.(b)
1,620
368,680
Fidelity National Information Services, Inc.
22,664
1,054,556
Fiserv, Inc.(a)
22,800
1,428,420
Franklin Resources, Inc.(b)
11,990
359,340
Global Payments, Inc.
9,890
711,684
Interactive Brokers Group, Inc., Cl. A
19,535
1,553,032
Intercontinental Exchange, Inc.
24,697
3,904,349
Invesco Ltd.
17,823
467,141
Jack Henry & Associates, Inc.
3,315
509,681
KKR & Co., Inc.
29,811
3,110,480
Mastercard, Inc., Cl. A
35,268
17,736,983
Moody’s Corp.
6,558
3,028,812
Morgan Stanley
52,369
9,981,008
MSCI, Inc.
3,224
1,906,706
Nasdaq, Inc.
19,814
1,821,105
Northern Trust Corp.
7,915
1,316,581
PayPal Holdings, Inc.
40,250
2,018,135
Raymond James Financial, Inc.
7,599
1,203,074
Robinhood Markets, Inc., Cl. A(a)
34,676
2,527,534
S&P Global, Inc.
13,252
5,714,660
State Street Corp.
12,235
1,869,997
Synchrony Financial
14,842
1,130,960
T. Rowe Price Group, Inc.
9,067
932,813
The Bank of New York Mellon Corp.(d)
29,805
4,004,897
The Charles Schwab Corp.
72,335
6,628,779
The Goldman Sachs Group, Inc.
12,989
11,998,849
Visa, Inc., Cl. A(b)
72,801
24,012,682
 
188,086,014
Food, Beverage & Tobacco — 2.1%
Altria Group, Inc.
72,484
5,265,963
Archer-Daniels-Midland Co.
21,245
1,583,602
Brown-Forman Corp., Cl. B(b)
7,711
198,712
Bunge Global SA
6,160
782,751
Conagra Brands, Inc.(b)
19,279
276,654
7
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.2% (continued)
Food, Beverage & Tobacco — 2.1% (continued)
Constellation Brands, Inc., Cl. A
6,065
949,658
General Mills, Inc.(b)
22,268
786,283
Hormel Foods Corp.
13,387
287,419
Keurig Dr. Pepper, Inc.
59,145
1,738,863
McCormick & Co., Inc.
10,595
538,650
Molson Coors Beverage Co., Cl. B
7,691
328,713
Mondelez International, Inc., Cl. A
55,807
3,428,782
Monster Beverage Corp.(a)
31,315
2,413,447
PepsiCo, Inc.
59,184
9,380,072
Philip Morris International, Inc.
67,414
11,128,029
The Campbell’s Company(b)
7,120
148,025
The Coca-Cola Company
167,657
13,204,665
The Hershey Company
6,403
1,189,293
The J.M. Smucker Company
4,390
430,352
The Kraft Heinz Company
37,004
838,511
Tyson Foods, Inc., Cl. A
11,983
767,751
 
55,666,195
Health Care Equipment & Services — 3.1%
Abbott Laboratories
75,304
6,836,850
Align Technology, Inc.(a)
2,762
486,140
Baxter International, Inc.(b)
23,310
409,790
Becton Dickinson & Co.
12,370
1,843,625
Boston Scientific Corp.(a)
63,975
3,685,600
Cardinal Health, Inc.
10,265
1,979,913
Cencora, Inc.
8,426
2,595,292
Centene Corp.(a)
19,801
1,063,116
CVS Health Corp.
55,683
4,637,837
DaVita, Inc.(a)
1,309
203,078
Dexcom, Inc.(a)
16,367
974,655
Edwards Lifesciences Corp.(a)
24,670
2,059,945
Elevance Health, Inc.
9,578
3,605,351
GE HealthCare Technologies, Inc.
19,593
1,192,038
HCA Healthcare, Inc.
6,837
2,970,335
Henry Schein, Inc.(a),(b)
4,860
362,507
Humana, Inc.
5,280
1,248,403
IDEXX Laboratories, Inc.(a)
3,503
1,964,482
Insulet Corp.(a)
3,091
532,085
Intuitive Surgical, Inc.(a)
15,379
7,037,584
Labcorp Holdings, Inc.
3,638
934,238
McKesson Corp.
5,304
4,323,821
Medtronic PLC
55,426
4,487,843
Quest Diagnostics, Inc.
4,958
962,844
ResMed, Inc.(b)
6,152
1,315,359
Solventum Corp.(a)
6,072
409,010
STERIS PLC
4,251
921,957
Stryker Corp.
14,873
4,686,929
The Cigna Group
11,306
3,285,297
The Cooper Companies, Inc.(a)
8,388
527,605
UnitedHealth Group, Inc.
39,228
14,533,189
8
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.2% (continued)
Health Care Equipment & Services — 3.1% (continued)
Universal Health Services, Inc., Cl. B
2,428
408,560
Zimmer Biomet Holdings, Inc.
8,737
720,191
 
83,205,469
Household & Personal Products — .9%
Church & Dwight Co., Inc.
10,117
981,956
Colgate-Palmolive Co.
34,511
2,945,859
Kenvue, Inc.
83,361
1,461,318
Kimberly-Clark Corp.
14,298
1,407,352
The Clorox Company
4,895
472,074
The Estee Lauder Companies, Inc., Cl. A
10,948
839,821
The Procter & Gamble Company
100,643
14,803,579
 
22,911,959
Insurance — 1.6%
Aflac, Inc.
20,535
2,334,213
American International Group, Inc.
23,347
1,746,356
Aon PLC, Cl. A
9,347
2,912,993
Arch Capital Group Ltd.(a)
15,508
1,464,886
Arthur J. Gallagher & Co.
11,172
2,305,901
Assurant, Inc.
2,087
493,095
Brown & Brown, Inc.
12,681
762,762
Chubb Ltd.
15,675
5,125,725
Cincinnati Financial Corp.
6,927
1,133,257
Erie Indemnity Co., Cl. A(b)
1,098
240,385
Everest Group Ltd.
1,705
608,276
Globe Life, Inc.
3,207
494,840
Loews Corp.
7,261
817,661
Marsh & McLennan Companies, Inc.
21,140
3,545,389
MetLife, Inc.
23,795
1,905,979
Principal Financial Group, Inc.
8,226
830,086
Prudential Financial, Inc.
15,164
1,487,740
The Allstate Corp.
11,119
2,415,714
The Hartford Insurance Group, Inc.
12,083
1,653,075
The Progressive Corp.
25,360
5,104,461
The Travelers Companies, Inc.
9,448
2,882,963
W. R. Berkley Corp.
12,514
836,311
Willis Towers Watson PLC
4,214
1,079,627
 
42,181,695
Materials — 1.9%
Air Products and Chemicals, Inc.
9,685
2,905,984
Albemarle Corp.
5,264
1,035,429
Amcor PLC(b)
19,593
745,318
Avery Dennison Corp.
3,471
569,001
Ball Corp.
11,433
698,328
CF Industries Holdings, Inc.
6,759
839,468
Corteva, Inc.
29,051
2,353,422
CRH PLC
28,709
3,399,720
Dow, Inc.
31,027
1,256,283
DuPont de Nemours, Inc.
17,245
787,407
Ecolab, Inc.
11,182
2,914,029
Freeport-McMoRan, Inc.
61,701
3,565,084
International Flavors & Fragrances, Inc.(b)
10,650
747,630
9
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.2% (continued)
Materials — 1.9% (continued)
International Paper Co.
22,995
699,508
Linde PLC
20,222
10,134,053
LyondellBasell Industries NV, Cl. A
11,128
830,149
Martin Marietta Materials, Inc.
2,592
1,604,629
Newmont Corp.
47,144
5,237,227
Nucor Corp.
9,714
2,188,467
Packaging Corp. of America
3,935
839,926
PPG Industries, Inc.
9,974
1,082,179
Smurfit Westrock PLC
23,378
897,481
Steel Dynamics, Inc.
6,032
1,379,277
The Mosaic Company
14,238
331,318
The Sherwin-Williams Company
9,889
3,180,401
Vulcan Materials Co.
5,773
1,741,945
 
51,963,663
Media & Entertainment — 10.0%
Alphabet, Inc., Cl. A
252,128
97,018,854
Alphabet, Inc., Cl. C
202,528
77,353,544
Charter Communications, Inc., Cl. A(a),(b)
3,785
625,168
EchoStar Corp., Cl. A(a)
5,857
721,231
Electronic Arts, Inc.
9,580
1,938,705
Fox Corp., Cl. A(b)
8,167
518,523
Fox Corp., Cl. B
5,225
297,930
Live Nation Entertainment, Inc.(a),(b)
6,986
1,103,369
Meta Platforms, Inc., Cl. A
94,718
57,958,891
Netflix, Inc.(a)
182,845
17,116,120
News Corp., Cl. A
17,478
460,021
News Corp., Cl. B(b)
3,422
104,303
Omnicom Group, Inc.
13,927
1,068,479
Paramount Skydance Corp., Cl. B(b)
14,763
151,173
Take-Two Interactive Software, Inc.(a)
7,602
1,625,004
The Trade Desk, Inc., Cl. A(a)
20,579
485,459
The Walt Disney Company
76,717
7,959,389
TKO Group Holdings, Inc.
3,005
559,200
Warner Bros Discovery, Inc.(a)
108,196
2,926,702
 
269,992,065
Pharmaceuticals, Biotechnology & Life Sciences — 5.3%
AbbVie, Inc.
76,538
16,174,010
Agilent Technologies, Inc.
12,278
1,418,722
Amgen, Inc.
23,319
8,074,204
Biogen, Inc.(a)
6,462
1,223,127
Bio-Techne Corp.(b)
7,138
394,874
Bristol-Myers Squibb Co.
88,052
5,335,071
Charles River Laboratories International, Inc.(a)
1,979
330,434
Danaher Corp.
27,183
4,864,398
Eli Lilly & Co.
34,317
32,072,668
Gilead Sciences, Inc.
53,729
7,029,902
Incyte Corp.(a)
7,027
669,462
IQVIA Holdings, Inc.(a)
7,291
1,154,676
Johnson & Johnson
104,363
23,987,836
Merck & Co., Inc.
107,487
11,735,431
Mettler-Toledo International, Inc.(a)
880
1,123,417
10
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.2% (continued)
Pharmaceuticals, Biotechnology & Life Sciences — 5.3% (continued)
Moderna, Inc.(a)
14,937
686,206
Pfizer, Inc.
246,225
6,574,207
Regeneron Pharmaceuticals, Inc.
4,323
3,056,620
Revvity, Inc.(b)
4,987
431,974
Thermo Fisher Scientific, Inc.
16,270
7,792,679
Vertex Pharmaceuticals, Inc.(a)
10,967
4,687,076
Viatris, Inc.
51,666
771,890
Waters Corp.(a)
4,216
1,303,714
West Pharmaceutical Services, Inc.
3,132
932,052
Zoetis, Inc.
18,373
2,112,344
 
143,936,994
Real Estate Management & Development — .1%
CBRE Group, Inc., Cl. A(a)
12,444
1,776,132
CoStar Group, Inc.(a)
18,691
646,896
 
2,423,028
Semiconductors & Semiconductor Equipment — 16.5%
Advanced Micro Devices, Inc.(a)
70,607
25,029,475
Analog Devices, Inc.
21,161
8,512,224
Applied Materials, Inc.
34,373
13,559,805
Broadcom, Inc.
205,326
85,709,232
First Solar, Inc.(a)
4,601
928,896
Intel Corp.(a)
203,335
19,211,091
KLA Corp.
5,676
9,934,987
Lam Research Corp.
54,079
13,944,811
Microchip Technology, Inc.
23,362
2,170,563
Micron Technology, Inc.
48,741
25,206,896
Monolithic Power Systems, Inc.
2,086
3,367,659
NVIDIA Corp.
1,052,336
210,014,696
NXP Semiconductors NV
10,819
3,176,350
ON Semiconductor Corp.(a)
17,504
1,764,578
Qnity Electronics, Inc.
9,187
1,292,243
QUALCOMM, Inc.
46,033
8,266,606
Skyworks Solutions, Inc.(b)
6,355
445,930
Teradyne, Inc.
6,753
2,319,453
Texas Instruments, Inc.
39,224
11,025,082
 
445,880,577
Software & Services — 8.6%
Accenture PLC, Cl. A
26,533
4,741,712
Adobe, Inc.(a)
17,892
4,403,221
Akamai Technologies, Inc.(a),(b)
6,463
665,560
AppLovin Corp., Cl. A(a)
11,705
5,224,527
Autodesk, Inc.(a)
9,031
2,140,347
Cadence Design Systems, Inc.(a)
11,788
3,885,207
Cognizant Technology Solutions Corp., Cl. A
20,997
1,110,741
CrowdStrike Holdings, Inc., Cl. A(a)
11,008
4,906,816
Datadog, Inc., Cl. A(a)
13,993
1,849,735
EPAM Systems, Inc.(a)
2,525
287,294
Fair Isaac Corp.(a)
1,033
1,058,825
Fortinet, Inc.(a)
26,929
2,270,384
Gartner, Inc.(a)
2,999
445,322
Gen Digital, Inc.
22,466
433,369
11
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.2% (continued)
Software & Services — 8.6% (continued)
GoDaddy, Inc., Cl. A(a)
6,131
532,109
International Business Machines Corp.
40,480
9,350,070
Intuit, Inc.
12,120
4,708,620
Microsoft Corp.
321,574
131,131,446
Oracle Corp.
73,435
11,851,675
Palantir Technologies, Inc., Cl. A(a)
98,925
13,761,457
Palo Alto Networks, Inc.(a)
34,833
6,246,254
PTC, Inc.(a)
5,179
705,898
Roper Technologies, Inc.
4,651
1,650,221
Salesforce, Inc.
40,552
7,158,645
ServiceNow, Inc.(a)
45,224
3,993,731
Synopsys, Inc.(a)
8,364
4,036,466
Trimble, Inc.(a)
9,844
662,698
Tyler Technologies, Inc.(a)
1,955
666,929
VeriSign, Inc.
3,625
973,892
Workday, Inc., Cl. A(a)
9,457
1,157,537
 
232,010,708
Technology Hardware & Equipment — 9.6%
Amphenol Corp., Cl. A
53,122
7,823,277
Apple, Inc.
635,782
172,519,446
Arista Networks, Inc.(a)
44,718
7,723,246
CDW Corp.
5,794
793,256
Ciena Corp.(a)
6,019
3,175,504
Cisco Systems, Inc.
171,106
15,656,199
Coherent Corp.(a)
8,167
2,611,072
Corning, Inc.
33,741
5,541,622
Dell Technologies, Inc., Cl. C
13,070
2,730,976
F5, Inc.(a)
2,392
774,769
Hewlett Packard Enterprise Co.
57,999
1,668,631
HP, Inc.
39,041
814,395
Jabil, Inc.
4,549
1,535,242
Keysight Technologies, Inc.(a)
7,538
2,637,622
Lumentum Holdings, Inc.(a)
3,119
2,814,336
Motorola Solutions, Inc.
7,231
3,174,626
NetApp, Inc.
8,241
912,856
Sandisk Corp.(a)
6,365
6,979,286
Seagate Technology Holdings PLC
9,379
6,318,069
Super Micro Computer, Inc.(a)
22,491
616,253
TE Connectivity PLC
12,820
2,713,481
Teledyne Technologies, Inc.(a)
2,045
1,320,763
Western Digital Corp.
14,813
6,436,545
Zebra Technologies Corp., Cl. A(a)
2,011
455,009
 
257,746,481
Telecommunication Services — .9%
AT&T, Inc.
303,167
7,921,754
Comcast Corp., Cl. A
155,399
4,201,989
T-Mobile US, Inc.
20,371
3,982,530
Verizon Communications, Inc.
182,497
8,765,331
 
24,871,604
Transportation — 1.3%
C.H. Robinson Worldwide, Inc.
5,122
931,231
12
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.2% (continued)
Transportation — 1.3% (continued)
CSX Corp.
80,432
3,654,026
Delta Air Lines, Inc.
28,087
1,909,635
Expeditors International of Washington, Inc.
5,979
884,234
FedEx Corp.
9,347
3,769,738
J.B. Hunt Transport Services, Inc.
3,339
839,859
Norfolk Southern Corp.
9,843
3,108,715
Old Dominion Freight Line, Inc.
7,768
1,650,156
Southwest Airlines Co.
22,036
835,605
Uber Technologies, Inc.(a)
89,129
6,649,915
Union Pacific Corp.
25,811
6,955,548
United Airlines Holdings, Inc.(a)
14,004
1,260,360
United Parcel Service, Inc., Cl. B
31,669
3,445,587
 
35,894,609
Utilities — 2.3%
Alliant Energy Corp.(b)
11,415
838,203
Ameren Corp.
12,029
1,367,096
American Electric Power Co., Inc.
23,479
3,219,206
American Water Works Co., Inc.
8,133
1,044,440
Atmos Energy Corp.
7,188
1,365,576
CenterPoint Energy, Inc.
27,723
1,210,109
CMS Energy Corp.
13,671
1,049,113
Consolidated Edison, Inc.
15,896
1,772,245
Constellation Energy Corp.
13,584
4,251,792
Dominion Energy, Inc.
37,157
2,396,626
DTE Energy Co.
9,174
1,391,604
Duke Energy Corp.
33,809
4,379,956
Edison International
16,100
1,118,789
Entergy Corp.
19,590
2,309,857
Evergy, Inc.
9,622
797,086
Eversource Energy
16,639
1,176,377
Exelon Corp.
44,587
2,050,556
FirstEnergy Corp.(b)
22,725
1,079,892
NextEra Energy, Inc.
90,190
8,827,797
NiSource, Inc.
21,218
1,024,405
NRG Energy, Inc.
8,974
1,396,175
PG&E Corp.
95,135
1,581,144
Pinnacle West Capital Corp.(b)
5,340
553,865
PPL Corp.
32,620
1,221,293
Public Service Enterprise Group, Inc.
21,657
1,768,511
Sempra
28,302
2,692,086
The AES Corp.
29,429
425,249
The Southern Company
47,523
4,595,474
Vistra Corp.
13,614
2,148,834
WEC Energy Group, Inc.(b)
13,896
1,638,894
Xcel Energy, Inc.
25,867
2,145,668
 
62,837,918
Total Equity Securities - Common Stocks
(cost $425,265,255)
2,673,322,044
 
13
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
1-Day
Yield (%)
 
Shares
Value ($)
Investment Companies — .9%
Registered Investment Companies — .9%
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional
Shares(d)
(cost $25,163,938)
3.70
25,163,938
25,163,938
Investment of Cash Collateral for Securities Loaned — .0%
Registered Investment Companies — .0%
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional
Shares(d)
(cost $157,111)
3.70
157,111
157,111
Total Investments (cost $450,586,304)
 
    100.1%
2,698,643,093
Liabilities, Less Cash and Receivables
 
      (.1%)
   (2,444,463)
Net Assets
    100.0%
2,696,198,630
 
(a)
Non-income producing security.
(b)
Security, or portion thereof, on loan. At April 30, 2026, the value of the fund’s securities on loan was $23,077,598 and the value of the collateral was
$23,325,795, consisting of cash collateral of $157,111 and U.S. Government & Agency securities valued at $23,168,684.  In addition, the value of collateral
may include pending sales that are also on loan.
(c)
Investment in real estate investment trust within the United States.
(d)
Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company’s
prospectus.
 
Affiliated Issuers
Description
Value ($)
10/31/2025
Purchases ($)†
Sales ($)
Net Realized
Gain (Loss) ($)
Net Change in
Unrealized
Appreciation
(Depreciation) ($)
Value ($)
4/30/2026
Dividends/
Distributions ($)
Equity Securities - Common Stocks - .1%
The Bank of New York
Mellon Corp. - .1%
3,371,517
78,939
(244,639)
151,711
647,369
4,004,897
31,659
Registered Investment Companies - .9%
Dreyfus Institutional
Preferred
Government Plus
Money Market Fund,
Institutional Shares -
.9%
34,914,917
168,640,379
(178,391,358)
-
-
25,163,938
519,122
Investment of Cash Collateral for Securities Loaned - .0%
Dreyfus Institutional
Preferred
Government Plus
Money Market Fund,
Institutional Shares -
.0%
161,049
7,753,659
(7,757,597)
-
-
157,111
20,414††
Total - 1.0%
38,447,483
176,472,977
(186,393,594)
151,711
647,369
29,325,946
571,195
 
†
Includes reinvested dividends/distributions.
††
Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and
other payments to and from borrowers of securities.
14
 
Futures
Description
Number of
Contracts
Expiration
Notional
Value ($)
Market
Value ($)
Unrealized
Appreciation ($)
Futures Long
S&P 500 E-mini
78
6/18/2026
25,450,761
28,250,625
2,799,864
Gross Unrealized Appreciation
 
 
2,799,864
See notes to financial statements.
15
STATEMENT OF ASSETS AND LIABILITIES 
April 30, 2026 (Unaudited) 
 
Cost
Value
Assets ($):
Investments in securities—See Schedule of Investments
(including securities on loan, valued at $23,077,598)—Note 1(c):
Unaffiliated issuers
424,985,595
2,669,317,147
Affiliated issuers
25,600,709
29,325,946
Cash collateral held by broker—Note 4
1,958,000
Receivable for shares of Common Stock subscribed
1,222,838
Dividends and securities lending income receivable
1,188,787
Receivable for futures variation margin—Note 4
295,301
 
2,703,308,019
Liabilities ($):
Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(b)
1,052,752
Payable for shares of Common Stock redeemed
5,867,424
Liability for securities on loan—Note 1(c)
157,111
Directors’ fees and expenses payable
32,102
 
7,109,389
Net Assets ($)
2,696,198,630
Composition of Net Assets ($):
Paid-in capital
379,669,190
Total distributable earnings (loss)
2,316,529,440
Net Assets ($)
2,696,198,630
Shares Outstanding
(200 million shares of $.001 par value Common Stock authorized)
41,682,602
Net Asset Value Per Share ($)
64.68
See notes to financial statements.
16
STATEMENT OF OPERATIONS
Six Months Ended April 30, 2026 (Unaudited) 
 
 
Investment Income ($):
Income:
Cash dividends (net of $3,329 foreign taxes withheld at source):
Unaffiliated issuers
15,211,806
Affiliated issuers
550,781
Affiliated income net of rebates from securities lending—Note 1(c)
20,414
Interest
172
Total Income
15,783,173
Expenses:
Management fee—Note 3(a)
3,186,968
Shareholder servicing costs—Note 3(b)
3,186,968
Directors’ fees—Notes 3(a) and 3(c)
114,600
Loan commitment fees—Note 2
24,800
Total Expenses
6,513,336
Less—Directors’ fees reimbursed by
BNY Mellon Investment Adviser, Inc.—Note 3(a)
(114,600
)
Net Expenses
6,398,736
Net Investment Income
9,384,437
Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):
Net realized gain (loss) on investments:
Unaffiliated issuers
73,571,697
Affiliated issuers
151,711
Net realized gain (loss) on futures
(924,111
)
Net Realized Gain (Loss)
72,799,297
Net change in unrealized appreciation (depreciation) on investments:
Unaffiliated issuers
61,226,660
Affiliated issuers
647,369
Net change in unrealized appreciation (depreciation) on futures
2,724,978
Net Change in Unrealized Appreciation (Depreciation)
64,599,007
Net Realized and Unrealized Gain (Loss) on Investments
137,398,304
Net Increase in Net Assets Resulting from Operations
146,782,741
See notes to financial statements.
17
STATEMENT OF CHANGES IN NET ASSETS
  
 
Six Months Ended
April 30, 2026
(Unaudited)
Year Ended October 31, 2025
 
Operations ($):
Net investment income
9,384,437
19,646,260
Net realized gain (loss) on investments
72,799,297
224,729,154
Net change in unrealized appreciation (depreciation) on investments
64,599,007
223,641,001
Net Increase (Decrease) in Net Assets Resulting from Operations
146,782,741
468,016,415
Distributions ($):
Distributions to shareholders
(243,234,916)
(230,555,049)
Capital Stock Transactions ($):
Net proceeds from shares sold
154,921,879
193,479,066
Distributions reinvested
233,845,094
222,935,464
Cost of shares redeemed
(216,419,485)
(445,304,309)
Increase (Decrease) in Net Assets from Capital Stock Transactions
172,347,488
(28,889,779)
Total Increase (Decrease) in Net Assets
75,895,313
208,571,587
Net Assets ($):
Beginning of Period
2,620,303,317
2,411,731,730
End of Period
2,696,198,630
2,620,303,317
Capital Share Transactions (Shares):
Shares sold
2,491,385
3,242,313
Shares issued for distributions reinvested
3,780,231
3,810,211
Shares redeemed
(3,448,191)
(7,408,981)
Net Increase (Decrease) in Shares Outstanding
2,823,425
(356,457)
See notes to financial statements.
18
FINANCIAL HIGHLIGHTS
The following table describes the performance for the fiscal periods indicated. Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. 
 
Six Months Ended
April 30, 2026
(Unaudited) 
Year Ended October 31,
 
2025
2024
2023
2022
2021
Per Share Data ($):
 
 
 
 
 
Net asset value, beginning of period
67.43
61.50
48.09
49.07
65.31
51.48
Investment Operations:
Net investment income(a)
.23
.49
.55
.57
.56
.56
Net realized and unrealized gain (loss) on
investments
3.36
11.42
16.61
3.59
(9.08
)
19.58
Total from Investment Operations
3.59
11.91
17.16
4.16
(8.52
)
20.14
Distributions:
Dividends from net investment income
(.50
)
(.56
)
(.59
)
(.62
)
(.58
)
(.75
)
Dividends from net realized gain on
investments
(5.84
)
(5.42
)
(3.16
)
(4.52
)
(7.14
)
(5.56
)
Total Distributions
(6.34
)
(5.98
)
(3.75
)
(5.14
)
(7.72
)
(6.31
)
Net asset value, end of period
64.68
67.43
61.50
48.09
49.07
65.31
Total Return (%)
5.75
(b)
20.84
37.34
9.60
(15.03
)
42.21
Ratios/Supplemental Data (%):
 
 
 
 
 
Ratio of total expenses to average net assets
.51
(c)
.51
.51
.51
.51
.51
Ratio of net expenses
to average net assets(d)
.50
(c)
.50
.50
.50
.50
.50
Ratio of net investment income to average
net assets(d)
.74
(c)
.81
.98
1.19
1.03
.95
Portfolio Turnover Rate
3.51
(b)
2.80
2.42
1.98
1.89
3.31
Net Assets, end of period ($ x 1,000)
2,696,199
2,620,303
2,411,732
1,938,020
1,919,564
2,553,501
 
(a)
Based on average shares outstanding.
(b)
Not annualized.
(c)
Annualized.
(d)
Amount inclusive of Directors’ fees reimbursed by BNY Mellon Investment Adviser, Inc.
See notes to financial statements.
19
NOTES TO FINANCIAL STATEMENTS (Unaudited)
NOTE 1—
Significant Accounting Policies:
BNY Mellon S&P 500 Index Fund (the “fund”) is a separate diversified series of BNY Mellon Index Funds, Inc. (the “Company”), which is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end management investment company and operates as a series company currently offering three series, including the fund. The fund’s investment objective is to seek to match the performance of the S&P 500® Index. BNY Mellon Investment Adviser, Inc. (the “Adviser”), a wholly-owned subsidiary of The Bank of New York Mellon Corporation (“BNY”), serves as the fund’s investment adviser. BNY Mellon Securities Corporation (the “Distributor”), a wholly-owned subsidiary of the Adviser, is the distributor of the fund’s shares, which are sold to the public without a sales charge.
Effective November 14, 2025, the fund may operate as a non-diversified fund, as defined under the Act, as amended, to the approximate extent the S&P 500® Index is non-diversified, without shareholder approval. The fund may therefore operate as non-diversified solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index.
The Company accounts separately for the assets, liabilities and operations of each series. Expenses directly attributable to each series are charged to that series’ operations; expenses which are applicable to all series of the Company are allocated among them on a pro rata basis.
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 Company enters into contracts that contain a variety of indemnifications. The fund’s maximum exposure under these arrangements is unknown. The fund does not anticipate recognizing any loss related to these arrangements.
(a) Portfolio valuation: 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:
Equity investments generally are valued at the last sale price on the day of valuation on the securities exchange or national securities market on which such securities primarily are traded. Securities listed on Nasdaq markets generally will be valued at the official closing price. If there are no transactions in a security, or no official closing prices for a Nasdaq market-listed security on that day, the security will be valued at the average of the most recent bid and asked prices. Bid price is used when no asked price is available. Open short positions for which there is no sale price on a given day are valued at the lowest asked price. Investments in other open-end investment companies are valued at their reported net asset values (“NAVs”) each day. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.
20
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
Fair value of foreign equity securities may be determined with the assistance of a pricing service using correlations between the movement of prices of foreign securities and indexes of domestic securities and other appropriate indicators, such as closing market prices of relevant American Depositary Receipts and futures contracts. The valuation of a security based on this fair value process may differ from the security’s most recent closing price and from the prices used by other mutual funds to calculate their NAVs. Foreign securities held by a fund may trade on days when the fund does not calculate its NAV and thus may affect the fund’s NAV on days when investors will not be able to purchase or sell (redeem) fund shares. Utilizing these techniques may result in transfers between Level 1 and Level 2 of the fair value hierarchy.
Restricted securities, as well as securities or other assets for which recent market quotations or official closing prices are not readily available or are determined not to reflect accurately fair value (such as when the value of a security has been materially affected by events occurring after the close of the exchange or market on which the security is principally traded, but before the fund calculates its NAV), or which are not valued by the Service, are valued at fair value as determined in good faith based on procedures approved by the Company’s Board of Directors (the “Board”). Fair value of investments is determined by the Adviser, as the fund’s valuation designee pursuant to Rule 2a-5 under the Act, using such information as it deems appropriate under the circumstances. The factors that may be considered when fair valuing a security include 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. Using fair value to price investments may result in a value that is different from a security’s most recent closing price and from the prices used by other mutual funds to calculate their NAVs. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.
Futures contracts will be valued at the most recent settlement price and are generally categorized within Level 1 of the fair value hierarchy.
The following is a summary of the inputs used as of April 30, 2026 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
2,673,322,044
—
—
2,673,322,044
Investment Companies
25,321,049
—
—
25,321,049
 
2,698,643,093
—
—
2,698,643,093
Other Financial Instruments:
Futures††
2,799,864
—
—
2,799,864
 
2,799,864
—
—
2,799,864
 
†
See Schedule of Investments for additional detailed categorizations, if any.
††
Amount shown represents unrealized appreciation (depreciation) at period end, but only variation margin on exchange-traded and centrally cleared derivatives,
if any, are reported in the Statement of Assets and Liabilities.
(b) Foreign taxes: The fund may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the fund invests. These foreign taxes, if any, are paid by the fund and are reflected in the Statement of Operations, if applicable. Foreign taxes payable or deferred or those subject to reclaims as of April 30, 2026, if any, are disclosed in the fund’s Statement of Assets and Liabilities.
(c) Securities transactions and investment income: Securities transactions are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income is recognized on the ex-dividend date and interest income, including, where applicable, accretion of discount and amortization of premium on investments, is recognized on the accrual basis.
Pursuant to a securities lending agreement with BNY, 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
21
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
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 the Adviser, or U.S. Government and Agency securities. Any non-cash collateral received cannot be sold or re-pledged by the fund, except in the event of borrower default, and is not reflected in the Statement of Assets and Liabilities. The securities on loan, if any, are also disclosed in the fund’s Schedule of Investments. 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, BNY 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. During the period ended April 30, 2026, BNY earned $2,781 from the lending of the fund’s portfolio securities, pursuant to the securities lending agreement.
For financial reporting purposes, the fund elects not to offset assets and liabilities subject to a securities lending agreement, if any, in the Statement of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statement of Assets and Liabilities. As of April 30, 2026, the fund had securities lending and the impact of netting of assets and liabilities and the offsetting of collateral pledged or received, if any, based on contractual netting/set-off provisions in the securities lending agreement are detailed in the following table: 
Assets ($)
 
Gross amount of securities loaned, at
value, as disclosed in the Statement
of Assets and Liabilities
23,077,598
Collateral (received)/posted not offset
in the Statement of
Assets and Liabilities
(23,077,598
)†
Net amount
-
 
†
The value of the related collateral received by the fund exceeded the value of the securities loaned by the fund pursuant to the securities lending agreement. In addition,
the value of collateral may include pending sales that are also on loan. See Schedule of Investments for detailed information regarding collateral received for open
securities lending.
(d) Affiliated issuers: Investments in other investment companies advised by the Adviser are considered “affiliated” under the Act.
(e) Market Risk: The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed-income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies world-wide. Local, regional or global events such as war, military conflicts, acts of terrorism, natural disasters, the spread of infectious illness or other public health issues, recessions, elevated levels of government debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events could have a significant impact on the fund and its investments.
Indexing Strategy Risk: The fund uses an indexing strategy. It does not attempt to manage market volatility, use defensive strategies or reduce the effects of any long-term periods of poor index performance. The correlation between fund and index performance may be affected by the fund’s expenses and/or use of sampling techniques, changes in securities markets, changes in the composition of the index and the timing of purchases and redemptions of fund shares.
(f) Dividends and distributions to shareholders: Dividends and distributions are recorded on the ex-dividend date. Dividends from net investment income and dividends from net realized capital gains, if any, are normally declared and paid annually, but the fund may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended (the “Code”). To the extent that net realized capital gains can be offset by capital loss carryovers, it is the policy of the fund not to distribute such gains. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
(g) Federal income taxes: It is the policy of the fund to continue to qualify as a regulated investment company, if such qualification is
22
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
in the best interests of its shareholders, by complying with the applicable provisions of the Code, and to make distributions of taxable income and net realized capital gain sufficient to relieve it from substantially all federal income and excise taxes.
As of and during the period ended April 30, 2026, the fund did not have any liabilities for any uncertain tax positions. The fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During the period ended April 30, 2026, the fund did not incur any interest or penalties.
Each tax year in the three-year period ended October 31, 2025 remains subject to examination by the Internal Revenue Service and state taxing authorities.
The tax character of distributions paid to shareholders during the fiscal year ended October 31, 2025 were as follows: ordinary income $24,462,557 and long-term capital gains $206,092,492. The tax character of current year distributions will be determined at the end of the current fiscal year.
(h) Operating segment reporting: In accordance with FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures (“ASU 2023-07”), the fund has operated and been managed as a single reportable segment, generating returns through dividends, interest, and/or gains from investments aligned with its single stated investment objective as outlined in the fund’s prospectus. The fund’s accounting policies are consistent with those described in these Notes to Financial Statements. The chief operating decision maker (“CODM”) is represented by BNY Investments and is comprised of Senior Management and Directors of BNY Investments. The CODM considers the net increase in net assets resulting from operations when deciding whether to purchase additional investments or make distributions to shareholders. Detailed financial information for the fund is presented in these financial statements, including total assets and liabilities in the Statement of Assets and Liabilities, investments held in the Schedule of Investments, results of operations and significant segment expenses in the Statement of Operations, and additional performance information—such as total return, portfolio turnover, and ratios—in the Financial Highlights.
NOTE 2—
Bank Lines of Credit:
The fund participates with other long-term open-end funds managed by the Adviser in a $738 million unsecured credit facility led by Citibank, N.A. (the “Citibank Credit Facility”) and a $300 million unsecured credit facility provided by BNY (the “BNY Credit Facility”), each to be utilized primarily for temporary or emergency purposes, including the financing of redemptions (each, a “Facility”). The Citibank Credit Facility is available in two tranches: (i) Tranche A is in an amount equal to $618 million and is available to all long-term open-ended funds, including the fund, and (ii) Tranche B is an amount equal to $120 million and is available only to BNY Mellon Floating Rate Income Fund, a series of BNY Mellon Investment Funds IV, Inc. In connection therewith, the fund has agreed to pay its pro rata portion of commitment fees for Tranche A of the Citibank Credit Facility and the BNY Credit Facility. Interest is charged to the fund based on rates determined pursuant to the terms of the respective Facility at the time of borrowing. During the period ended April 30, 2026, the fund did not borrow under either Facility.
NOTE 3—
Management Fee and Other Transactions with Affiliates:
(a) Pursuant to a management agreement with the Adviser, the management fee is computed at the annual rate of .25% of the value of the fund’s average daily net assets and is payable monthly. The Adviser has agreed in its management agreement with the fund to pay all of the fund’s expenses, except management fees, interest expenses, brokerage commissions, and commitment fees on borrowings, if any, fees pursuant to any distribution or shareholder services plan adopted by the fund, fees and expenses of the non-interested board members and their counsel and independent counsel to the fund, and any extraordinary expenses. The Adviser has further agreed to reduce its fees in an amount equal to the fund’s allocable portion of the fees and expenses of the non-interested board members and the fees and expenses of independent counsel to the fund and to the non-interested board members. These provisions in the management agreement may not be amended without the approval of the fund’s shareholders. During the period ended April 30, 2026, fees reimbursed by the Adviser amounted to $114,600.
(b) Under the shareholder services plan (the “Shareholder Services Plan”), the fund pays the Distributor at an annual rate of .25% of the value of their average daily net assets for the provision of certain services. The services provided may include personal services relating to shareholder accounts, such as answering shareholder inquiries regarding the fund, and services related to the maintenance of shareholder accounts. The Distributor may make payments to service agents (securities dealers, financial institutions or other industry professionals) with respect to these services. The Distributor determines the amounts to be paid to service agents. During the period ended April 30, 2026, the fund was charged $3,186,968 pursuant to the Shareholder Services Plan.
23
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
The fund has an arrangement with The Bank of New York Mellon (the “Custodian”), a subsidiary of BNY and an affiliate of the Adviser, whereby the fund will receive interest income or be charged overdraft fees when cash balances are maintained. For financial reporting purposes, the fund includes this interest income and overdraft fees, if any, as interest income in the Statement of Operations.
The components of “Due to BNY Mellon Investment Adviser, Inc. and affiliates” in the Statement of Assets and Liabilities consist of: management fee of $535,376, Shareholder Services Plan fees of $535,376, which are offset against an expense reimbursement currently in effect in the amount of $18,000.
(c) Each board member of the fund also serves as a board member of other funds in the BNY Mellon Family of Funds complex. Annual retainer fees and attendance fees are allocated to each fund based on net assets.
NOTE 4—
Securities Transactions:
The aggregate amount of purchases and sales of investment securities, excluding short-term securities and derivatives, during the period ended April 30, 2026, amounted to $89,519,984 and $135,806,450, respectively.
Derivatives: A derivative is a financial instrument whose performance is derived from the performance of another asset. Rule 18f-4 under the Act regulates the use of derivatives transactions for certain funds registered under the Act. Each type of derivative instrument that was held by the fund during the period ended April 30, 2026 is discussed below.
Deposits with Broker: The amount included in Cash collateral held by broker in the Statement of Asset and Liabilities represents cash balances that are held by a broker, including collateral required for derivative contracts. Any income earned on cash balances held by a broker is recorded as interest income to the fund.
Futures: In the normal course of pursuing its investment objective, the fund is exposed to market risk, including equity price risk, as a result of changes in value of underlying financial instruments. The fund invests in futures in order to manage its exposure to or protect against changes in the market. A futures contract represents a commitment for the future purchase or a sale of an asset at a specified date. Upon entering into such contracts, these investments require initial margin deposits with a counterparty, which consist of cash or cash equivalents. The amount of these deposits is determined by the exchange or Board of  Trade on which the contract is traded and is subject to change. Accordingly, variation margin payments are received or made to reflect daily unrealized gains or losses which are recorded in the Statement of Operations. When the contracts are closed, the fund recognizes a realized gain or loss which is reflected in the Statement of Operations. There is minimal counterparty credit risk to the fund with futures since they are exchange traded, and the exchange guarantees the futures against default. Futures open at April 30, 2026 are set forth in the fund’s Schedule of Investments.
The following tables show the  fund’s exposure to different types of market risk as it relates to the Statement of Assets and Liabilities and the Statement of Operations, respectively.
Fair value of derivative instruments as of April 30, 2026 is shown below: 
 
Derivative
Assets ($)
 
Derivative
Liabilities ($)
Equity Risk
2,799,864
(1)
Equity Risk
-
Gross fair value of derivative contracts
2,799,864
 
-
 
Statement of Assets and Liabilities location:
(1)
Includes cumulative appreciation (depreciation) on futures as reported in the Schedule of Investments, but only the unpaid variation margin is reported in the
Statement of Assets and Liabilities.
The effect of derivative instruments in the Statement of Operations during the period ended April 30, 2026 is shown below: 
Amount of realized gain (loss) on derivatives recognized in income ($)
Underlying risk
Futures(1)
Total
Equity
(924,111)
(924,111)
Total
(924,111)
(924,111)
24
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
 
Net change in unrealized appreciation (depreciation) on derivatives recognized in income ($)
Underlying risk
Futures(2)
Total
Equity
2,724,978
2,724,978
Total
2,724,978
2,724,978
 
Statement of Operations location:
(1)
Net realized gain (loss) on futures.
(2)
Net change in unrealized appreciation (depreciation) on futures.
The following table summarizes the monthly average market value of derivatives outstanding during the period ended April 30, 2026: 
 
Average Market Value ($)
Futures:
Equity Futures Long
31,478,695
At April 30, 2026, accumulated net unrealized appreciation on investments inclusive of derivative contracts was $2,250,856,653, consisting of $2,277,316,771 gross unrealized appreciation and $26,460,118 gross unrealized depreciation.
At April 30, 2026, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Schedule of Investments).
25
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies (Unaudited)
N/A
26
Item 9. Proxy Disclosures for Open-End Management Investment Companies (Unaudited)
N/A
27
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies (Unaudited)
Each board member also serves as a board member of other funds in the BNY Mellon Family of Funds complex, and annual retainer fees and meeting attendance fees are allocated to each fund based on net assets. The Adviser reimburses the fund for the fees and expenses of the non-interested board members. Compensation paid by the fund to the board members and board member fees reimbursed by the Adviser during the period are within Item 7. Statement of Operations as Directors’ and Directors’ fees reimbursed by BNY Mellon Investment Adviser, Inc., respectively.
28
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited)
At a meeting of the fund’s Board of Directors (the “Board”) held on March 5-6, 2026, the Board considered the renewal of the fund’s Management Agreement pursuant to which the Adviser provides the fund with investment advisory and administrative services (the “Agreement”). The Board members, none of whom are “interested persons” (as defined in the Investment Company Act of 1940, as amended) of the fund, were assisted in their review by independent legal counsel and met with counsel in executive session separate from representatives of the Adviser. In considering the renewal of the Agreement, the Board considered several factors that it believed to be relevant, including those discussed below. The Board did not identify any one factor as dispositive, and each Board member may have attributed different weights to the factors considered.
Analysis of Nature, Extent, and Quality of Services Provided to the Fund. The Board considered information provided to it at the meeting and in previous presentations from representatives of the Adviser regarding the nature, extent, and quality of the services provided to funds in the BNY fund complex, including the fund. The Adviser provided the number of open accounts in the fund, the fund’s asset size and the allocation of fund assets among distribution channels. The Adviser also had previously provided information regarding the diverse intermediary relationships and distribution channels of funds in the BNY fund complex (such as retail direct or intermediary, in which intermediaries typically are paid by the fund and/or the Adviser) and the Adviser’s corresponding need for broad, deep, and diverse resources to be able to provide ongoing shareholder services to each intermediary or distribution channel, as applicable to the fund.
The Board also considered research support available to, and portfolio management capabilities of, the fund’s portfolio management personnel and that the Adviser also provides oversight of day-to-day fund operations, including fund accounting and administration and assistance in meeting legal and regulatory requirements. The Board also considered the Adviser’s extensive administrative, accounting and compliance infrastructures.
Comparative Analysis of the Fund’s Performance and Management Fee and Expense Ratio. The Board reviewed reports prepared by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent provider of investment company data based on classifications provided by Thomson Reuters Lipper (“Lipper”), which included information comparing (1) the performance of the fund’s shares with the performance of a group of retail no-load S&P 500 index funds selected by Broadridge as comparable to the fund (the “Performance Group”) and with a broader group of funds consisting of all retail and institutional S&P 500 index funds (the “Performance Universe”), all for various periods ended December 31, 2025, and (2) the fund’s actual and contractual management fees and total expenses with those of the same group of funds in the Performance Group (the “Expense Group”) and with a broader group of funds consisting of retail no-load S&P 500 index funds, excluding outliers (the “Expense Universe”), the information for which was derived in part from fund financial statements available to Broadridge as of the date of its analysis. The Adviser previously had furnished the Board with a description of the methodology Broadridge used to select the Performance Group and Performance Universe and the Expense Group and Expense Universe.
Performance Comparisons. Representatives of the Adviser stated that the usefulness of performance comparisons may be affected by a number of factors, including different investment limitations and policies that may be applicable to the fund and comparison funds and the end date selected. The Board also considered the fund’s performance in light of overall financial market conditions. The Board discussed with representatives of the Adviser the results of the comparisons and considered that the fund’s total return performance was below the Performance Group and Performance Universe medians for all periods under review. It was noted that there were only five other funds in the Performance Group. The Board considered the relative proximity of the fund’s performance to the Performance Group and/or Performance Universe medians during the periods under review. The Adviser also provided a comparison of the fund’s calendar year total returns to the returns of the fund’s benchmark index. The Board noted that the fund had a four-star overall rating and a four-star rating for each of the five- and ten-year periods from Morningstar based on Morningstar’s risk-adjusted return measures.
Management Fee and Expense Ratio Comparisons. The Board reviewed and considered the contractual management fee rate payable by the fund to the Adviser in light of the nature, extent and quality of the management services provided by the Adviser. In addition, the Board reviewed and considered the actual management fee rate paid by the fund over the fund’s last fiscal year. The Board also reviewed the range of actual and contractual management fees and total expenses as a percentage of average net assets of the Expense Group and Expense Universe funds and discussed the results of the comparisons.
The Board noted that the Adviser pays all fund expenses, other than the actual management fee and certain other expenses. Because of the fund’s “unitary” fee structure, the Board recognized that the fund’s fees and expenses will vary within a much smaller range and the
29
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited) (continued)
Adviser will bear the risk that fund expenses may increase over time. On the other hand, the Board noted that it is possible that the Adviser could earn a profit on the fees charged under the Agreement and would benefit from any price decreases in third-party services covered by the Agreement. Taking into account the fund’s “unitary” fee structure, the Board considered that the fund’s contractual management fee was approximately equivalent to the Expense Group median contractual management fee, the fund’s actual management fee was higher than the Expense Group median and higher than the Expense Universe median actual management fee, and the fund’s total expenses were higher than the Expense Group median and higher than the Expense Universe median total expenses.
Representatives of the Adviser reviewed with the Board the management or investment advisory fees (1) paid by the one fund advised by the Adviser that is in the same Lipper category as the fund and (2) paid to the Adviser, or the primary employer of the fund’s primary portfolio managers that is affiliated with the Adviser, for advising any separate accounts and/or other types of client portfolios that are considered to have similar investment strategies and policies as the fund (the “Similar Clients”), and explained the nature of the Similar Clients. They discussed differences in fees paid and the relationship of the fees paid in light of any differences in the services provided and other relevant factors, noting the fund’s “unitary” fee structure. The Board considered the relevance of the fee information provided for the Similar Clients to evaluate the appropriateness of the fund’s management fee.
Analysis of Profitability and Economies of Scale. Representatives of the Adviser reviewed the expenses allocated and profit received by the Adviser and its affiliates and the resulting profitability percentage for managing the fund and the aggregate profitability percentage to the Adviser and its affiliates for managing the funds in the BNY fund complex, and the method used to determine the expenses and profit. The Board concluded that the profitability results were not excessive, given the services rendered and service levels provided by the Adviser and its affiliates. The Board had been provided with information prepared by an independent consulting firm regarding the Adviser’s approach to allocating costs to, and determining the profitability of, individual funds and the entire BNY fund complex. The consulting firm also had analyzed where any economies of scale might emerge in connection with the management of a fund.
The Board considered, on the advice of its counsel, the profitability analysis (1) as part of its evaluation of whether the fee under the Agreement, considered in relation to the mix of services provided by the Adviser, including the nature, extent and quality of such services, supported the renewal of the Agreement and (2) in light of the relevant circumstances for the fund and the extent to which economies of scale would be realized if the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders. Representatives of the Adviser stated that, as a result of shared and allocated costs among funds in the BNY fund complex, the extent of economies of scale could depend substantially on the level of assets in the complex as a whole, so that increases and decreases in complex-wide assets can affect potential economies of scale in a manner that is disproportionate to, or even in the opposite direction from, changes in the fund’s asset level. The Board also considered potential benefits to the Adviser from acting as investment adviser and took into consideration that there were no soft dollar arrangements in effect for trading the fund’s investments.
At the conclusion of these discussions, the Board agreed that it had been furnished with sufficient information to make an informed business decision with respect to the renewal of the Agreement. Based on the discussions and considerations as described above, the Board concluded and determined as follows.
●The Board concluded that the nature, extent and quality of the services provided by the Adviser are satisfactory and appropriate.
●The Board was generally satisfied with the fund’s overall performance.
●The Board concluded that the fee paid to the Adviser continued to be appropriate under the circumstances and in light of the factors and the totality of the services provided as discussed above.
●The Board determined that the economies of scale which may accrue to the Adviser and its affiliates in connection with the management of the fund had been adequately considered by the Adviser in connection with the fee rate charged to the fund pursuant to the Agreement and that, to the extent in the future it were determined that material economies of scale had not been shared with the fund, the Board would seek to have those economies of scale shared with the fund.
In evaluating the Agreement, the Board considered these conclusions and determinations and also relied on its previous knowledge, gained through meetings and other interactions with the Adviser and its affiliates, of the Adviser and the services provided to the fund by the Adviser. The Board also relied on information received on a routine and regular basis throughout the year relating to the operations of the fund and the investment management and other services provided under the Agreement, including information on the investment performance of the fund in comparison to similar mutual funds and benchmark performance indices; general market
30
outlook as applicable to the fund; and compliance reports. In addition, the Board’s consideration of the contractual fee arrangements for the fund had the benefit of a number of years of reviews of the Agreement for the fund, or substantially similar agreements for other BNY funds that the Board oversees, during which lengthy discussions took place between the Board and representatives of the Adviser. Certain aspects of the arrangements may receive greater scrutiny in some years than in others, and the Board’s conclusions may be based, in part, on its consideration of the fund’s arrangements, or substantially similar arrangements for other BNY funds that the Board oversees, in prior years. The Board determined to renew the Agreement.
31
© 2026 BNY Mellon Securities Corporation
Code-0078NCSRSA0426 
 
BNY Mellon Smallcap Stock Index Fund
SEMI-ANNUAL FINANCIALS AND OTHER INFORMATION
April 30, 2026
 
Class
Ticker
Investor
DISSX
I
DISIX
Save time. Save paper. View your next shareholder report online as soon as it’s available. Log into www.bny.com/investments and sign up for eCommunications. It’s simple and only takes a few minutes.
The views expressed in this report reflect those of the portfolio manager(s) only through the end of the period covered and do not necessarily represent the views of BNY Mellon Investment Adviser, Inc. or any other person in the BNY Mellon Investment Adviser, Inc. organization. Any such views are subject to change at any time based upon market or other conditions and BNY Mellon Investment Adviser, Inc. disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a fund in the BNY Mellon Family of Funds are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any fund in the BNY Mellon
Family of Funds.
Not FDIC-Insured • Not Bank-Guaranteed • May Lose Value
Contents
The Fund
Please note the Semi-Annual Financials and Other Information only contains Items 7-11 required in Form N-CSR. All other required items will be filed with the Securities and Exchange Commission (the “SEC”).
 
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies. 
BNY Mellon Smallcap Stock Index Fund
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1%
Automobiles & Components — 1.5%
Adient PLC(a)
39,183
824,802
Dana, Inc.
55,963
2,039,851
Dauch Corp.(a)
117,431
670,531
Dorman Products, Inc.(a)
13,816
1,554,438
Fox Factory Holding Corp.(a)
20,421
362,473
Gentherm, Inc.(a)
15,038
452,644
LCI Industries
12,022
1,433,263
Patrick Industries, Inc.
16,539
1,538,127
Phinia, Inc.
18,835
1,358,945
Standard Motor Products, Inc.
10,380
387,901
Versigent PLC(a)
35,210
1,231,294
Winnebago Industries, Inc.
14,174
462,214
XPEL, Inc.(a)
12,468
593,726
 
12,910,209
Banks — 8.3%
Ameris Bancorp
32,001
2,728,085
Atlantic Union Bankshares Corp.
70,653
2,660,085
Axos Financial, Inc.(a)
28,245
2,723,948
Banc of California, Inc.
67,236
1,259,330
BancFirst Corp.
10,363
1,156,614
Bank of Hawaii Corp.
19,755
1,570,720
BankUnited, Inc.
36,946
1,717,250
Banner Corp.
17,101
1,144,228
Beacon Financial Corp.
41,583
1,186,363
Capitol Federal Financial, Inc.
58,796
451,553
Cathay General Bancorp
33,488
1,876,333
Central Pacific Financial Corp.
13,136
437,166
City Holding Co.
7,181
882,976
Community Financial System, Inc.
26,253
1,663,390
Customers Bancorp, Inc.(a)
15,846
1,208,574
CVB Financial Corp.
83,118
1,693,114
Dime Community Bancshares, Inc.
20,328
729,572
Eagle Bancorp, Inc.
13,609
351,793
FB Financial Corp.
20,266
1,095,783
First BanCorp.
77,533
1,882,501
First Bancorp/Southern Pines NC
20,759
1,198,625
First Commonwealth Financial Corp.
51,536
948,778
First Financial Bancorp
51,830
1,569,412
First Hawaiian, Inc.
61,095
1,666,672
First Interstate BancSystem, Inc., Cl. A
43,766
1,553,255
Fulton Financial Corp.
95,410
2,059,902
Hanmi Financial Corp.
14,614
437,105
Heritage Financial Corp.
20,683
569,196
Hilltop Holdings, Inc.
20,961
789,601
Hope Bancorp, Inc.
63,265
787,649
Independent Bank Corp.
24,706
1,926,821
Lakeland Financial Corp.
12,647
765,396
National Bank Holdings Corp., Cl. A
22,270
950,929
3
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Banks — 8.3% (continued)
NBT Bancorp, Inc.
26,071
1,139,042
Northwest Bancshares, Inc.
73,161
1,011,817
OFG Bancorp
21,756
999,906
Park National Corp.
7,993
1,376,315
Pathward Financial, Inc.
10,778
935,962
Preferred Bank
5,720
541,856
Provident Financial Services, Inc.
64,971
1,473,542
Renasant Corp.
47,161
1,881,252
S&T Bancorp, Inc.
18,811
830,129
Seacoast Banking Corp. of Florida
48,212
1,517,232
ServisFirst Bancshares, Inc.
24,989
1,989,624
Simmons First National Corp., Cl. A
72,141
1,533,718
Southside Bancshares, Inc.
13,778
455,087
Stellar Bancorp, Inc.
22,802
856,443
The Bancorp, Inc.(a)
21,032
1,258,345
Tompkins Financial Corp.
6,338
534,103
Triumph Financial, Inc.(a)
11,231
760,114
TrustCo Bank Corp. NY
9,067
431,589
Trustmark Corp.
29,314
1,300,662
United Community Banks, Inc.
60,099
2,003,100
WaFd, Inc.
37,657
1,333,058
Westamerica BanCorp
12,384
678,891
WSFS Financial Corp.
26,616
1,915,553
 
70,400,059
Capital Goods — 11.9%
AAR Corp.(a)
19,454
2,147,138
Alamo Group, Inc.
5,355
928,771
Albany International Corp., Cl. A
14,458
839,142
American Woodmark Corp.(a)
7,417
323,975
Apogee Enterprises, Inc.
10,506
382,418
Arcosa, Inc.
24,441
3,091,053
Argan, Inc.
6,913
4,631,572
Armstrong World Industries, Inc.
21,492
3,662,022
Astec Industries, Inc.
11,391
740,643
Atmus Filtration Technologies, Inc.
40,619
2,575,245
AZZ, Inc.
14,878
2,128,149
Boise Cascade Co.
18,460
1,463,324
CSW Industrials, Inc.
8,208
2,390,170
DNOW, Inc.(a)
92,522
1,248,122
DXP Enterprises, Inc.(a)
6,295
1,074,871
Enerpac Tool Group Corp.
26,359
925,201
Enpro, Inc.
10,498
3,060,692
ESCO Technologies, Inc.
12,905
4,180,575
Everus Construction Group, Inc.(a)
25,419
3,747,523
Federal Signal Corp.
30,303
3,731,208
Franklin Electric Co., Inc.
19,076
1,911,224
Gates Industrial Corp. PLC(a)
126,506
3,239,819
Gibraltar Industries, Inc.(a)
14,875
580,571
Granite Construction, Inc.
21,676
2,971,129
Griffon Corp.
19,445
1,772,801
Hayward Holdings, Inc.(a)
100,068
1,502,021
4
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Capital Goods — 11.9% (continued)
Insteel Industries, Inc.
9,667
253,082
JBT Marel Corp.
25,899
3,058,672
Kadant, Inc.
5,869
1,720,380
Kennametal, Inc.
37,899
1,467,070
Lindsay Corp.
5,258
588,738
Masterbrand, Inc.(a)
63,950
574,271
Mercury Systems, Inc.(a)
26,319
2,076,832
Mueller Water Products, Inc., Cl. A
77,933
2,173,551
MYR Group, Inc.(a)
7,736
3,131,610
National Presto Industries, Inc.
2,600
363,584
Powell Industries, Inc.
14,159
3,925,866
Primoris Services Corp.
26,926
4,877,645
Proto Labs, Inc.(a)
11,783
763,656
Quanex Building Products Corp.
23,143
461,471
Resideo Technologies, Inc.(a)
68,640
2,839,637
Rush Enterprises, Inc., Cl. A
30,206
2,236,150
Standex International Corp.
6,022
1,644,006
Sunrun, Inc.(a)
115,370
1,468,660
Tennant Co.
8,942
742,544
The Greenbrier Companies, Inc.
15,320
752,518
Trinity Industries, Inc.
40,252
1,312,618
VSE Corp.
14,351
2,463,780
WillScot Holdings Corp.
90,662
2,052,588
Worthington Enterprises, Inc.
15,524
842,488
Zurn Elkay Water Solutions Corp.
73,978
3,843,897
 
100,884,693
Commercial & Professional Services — 3.7%
ABM Industries, Inc.
29,065
1,185,852
Amentum Holdings, Inc.(a)
76,584
2,008,798
Brady Corp., Cl. A
21,746
1,779,258
Casella Waste Systems, Inc., Cl. A(a)
31,149
2,468,558
CoreCivic, Inc.(a)
49,516
1,013,097
CSG Systems International, Inc.
13,559
1,090,279
Deluxe Corp.
22,302
694,707
Enviri Corp.(a)
40,394
795,358
Healthcare Services Group, Inc.(a)
34,911
747,444
HNI Corp.
34,629
1,265,344
Insperity, Inc.
17,752
631,439
Interface, Inc.
28,995
808,381
Korn Ferry
26,000
1,727,440
Legalzoom.com, Inc.(a)
57,641
371,784
Liquidity Services, Inc.(a)
11,874
423,308
ManpowerGroup, Inc.
22,913
693,577
MillerKnoll, Inc.
34,375
552,750
OPENLANE, Inc.(a)
52,786
1,659,592
Paycom Software, Inc.
24,352
3,086,860
Pitney Bowes, Inc.
73,384
1,134,517
Robert Half, Inc.
49,528
1,317,940
The GEO Group, Inc.(a)
68,686
1,271,378
UniFirst Corp.
7,236
1,848,870
Upwork, Inc.(a)
64,923
671,953
5
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Commercial & Professional Services — 3.7% (continued)
Verra Mobility Corp.(a)
79,517
1,179,237
Vestis Corp.(a)
55,312
537,633
 
30,965,354
Consumer Discretionary Distribution & Retail — 3.9%
Academy Sports & Outdoors, Inc.
33,230
1,822,333
Advance Auto Parts, Inc.
29,903
1,779,527
American Eagle Outfitters, Inc.
78,455
1,366,686
Asbury Automotive Group, Inc.(a)
9,673
1,970,293
Boot Barn Holdings, Inc.(a)
15,159
2,599,011
CarMax, Inc.(a)
70,663
2,777,762
Etsy, Inc.(a)
49,189
3,164,820
Group 1 Automotive, Inc.
5,879
2,098,039
Kohl’s Corp.
55,357
784,409
LKQ Corp.
127,558
4,028,282
MarineMax, Inc.(a)
9,315
267,713
Monro, Inc.
14,905
261,732
National Vision Holdings, Inc.(a)
39,523
917,724
Sally Beauty Holdings, Inc.(a)
48,051
681,363
Signet Jewelers Ltd.
20,274
1,804,994
Sonic Automotive, Inc., Cl. A
7,409
583,459
The Buckle, Inc.
14,934
830,480
Upbound Group, Inc.
25,833
510,460
Urban Outfitters, Inc.(a)
26,974
1,897,351
Victoria’s Secret & Co.(a)
40,001
2,073,252
Winmark Corp.
1,465
557,418
 
32,777,108
Consumer Durables & Apparel — 3.6%
Acushnet Holdings Corp.
13,740
1,330,307
Callaway Golf Co.(a)
69,644
1,065,553
Carter’s, Inc.
18,146
655,433
Cavco Industries, Inc.(a)
3,868
1,961,076
Century Communities, Inc.
12,687
710,726
Champion Homes, Inc.(a)
27,559
2,100,822
Dream Finders Homes, Inc., Cl. A(a)
14,821
216,387
Ethan Allen Interiors, Inc.
11,842
252,708
G-III Apparel Group Ltd.
18,757
585,031
Green Brick Partners, Inc.(a)
15,197
1,024,886
Installed Building Products, Inc.
11,286
3,256,575
Kontoor Brands, Inc.
25,488
1,869,800
La-Z-Boy, Inc.
20,542
713,629
Leggett & Platt, Inc.
67,492
733,638
LGI Homes, Inc.(a)
10,179
498,466
M/I Homes, Inc.(a)
13,096
1,721,993
Meritage Homes Corp.
33,289
2,241,681
Mohawk Industries, Inc.(a)
25,879
2,731,787
Newell Brands, Inc.
208,903
852,324
Oxford Industries, Inc.
7,127
305,321
Sonos, Inc.(a)
60,229
893,196
Steven Madden Ltd.
36,121
1,356,705
Tri Pointe Homes, Inc.(a)
42,100
1,974,069
Under Armour, Inc., Cl. A(a)
94,752
595,990
6
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Consumer Durables & Apparel — 3.6% (continued)
Under Armour, Inc., Cl. C(a)
60,370
366,446
Wolverine World Wide, Inc.
40,808
694,552
 
30,709,101
Consumer Services — 4.1%
ADT, Inc.
253,197
1,906,573
BJ’s Restaurants, Inc.(a)
10,574
406,042
Brinker International, Inc.(a)
21,703
3,304,065
Caesars Entertainment, Inc.(a)
101,715
2,827,677
Covista, Inc.(a)
17,197
1,981,438
Cracker Barrel Old Country Store, Inc.
11,034
345,585
Frontdoor, Inc.(a)
35,937
2,466,356
Golden Entertainment, Inc.
10,035
291,918
Laureate Education, Inc.(a)
66,830
2,011,249
Life Time Group Holdings, Inc.(a)
75,824
2,032,841
Marriott Vacations Worldwide Corp.
13,800
993,738
Matthews International Corp., Cl. A
15,700
448,078
Mister Car Wash, Inc.(a)
49,168
348,109
Monarch Casino & Resort, Inc.
6,094
723,297
OneSpaWorld Holdings Ltd.
50,807
1,252,901
Papa John’s International, Inc.
16,300
589,897
Penn Entertainment, Inc.(a)
63,001
1,099,997
Perdoceo Education Corp.
30,336
1,029,604
Pursuit Attractions and Hospitality, Inc.(a)
10,871
457,452
Red Rock Resorts, Inc., Cl. A
24,190
1,305,292
Sabre Corp.(a)
195,356
357,501
Shake Shack, Inc., Cl. A(a)
20,060
2,055,348
Six Flags Entertainment Corp.(a)
50,568
949,667
Strategic Education, Inc.
11,504
901,914
Stride, Inc.(a)
20,942
2,034,725
The Cheesecake Factory, Inc.
22,799
1,433,373
The Wendy’s Company
78,570
546,847
United Parks & Resorts, Inc.(a)
13,806
486,662
 
34,588,146
Consumer Staples Distribution & Retail — .8%
Grocery Outlet Holding Corp.(a)
48,151
380,874
PriceSmart, Inc.
12,581
1,974,211
The Andersons, Inc.
16,882
1,325,912
The Chefs’ Warehouse, Inc.(a)
18,043
1,400,137
United Natural Foods, Inc.(a)
30,365
1,518,857
 
6,599,991
Energy — 5.9%
Archrock, Inc.
87,394
3,386,518
Atlas Energy Solutions, Inc.
37,678
654,844
Bristow Group, Inc.
12,690
623,460
Cactus, Inc., Cl. A
34,306
1,911,530
California Resources Corp.
39,154
2,672,652
Comstock Resources, Inc.(a)
39,499
688,073
Core Laboratories, Inc.
22,958
336,335
Core Natural Resources, Inc.
25,534
2,291,421
Crescent Energy Co., Cl. A
121,097
1,628,755
CVR Energy, Inc.(a)
15,266
505,915
7
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Energy — 5.9% (continued)
Dorian LPG Ltd.
18,348
707,315
Helix Energy Solutions Group, Inc.(a)
67,603
699,691
Helmerich & Payne, Inc.
49,759
2,009,268
Innovex International, Inc.(a)
19,125
531,101
International Seaways, Inc.
20,154
1,671,774
Kinetik Holdings, Inc.
22,779
1,151,251
Kodiak Gas Services, Inc.
41,419
2,808,208
Liberty Energy, Inc.
80,757
2,728,779
Magnolia Oil & Gas Corp., Cl. A
90,140
2,725,834
Noble Corp. PLC
62,674
3,198,254
Northern Oil & Gas, Inc.
51,851
1,408,273
Oceaneering International, Inc.(a)
49,531
1,859,394
Par Pacific Holdings, Inc.(a)
25,062
1,645,822
Patterson-UTI Energy, Inc.
172,133
2,103,465
Peabody Energy Corp.
60,581
1,615,089
REX American Resources Corp.(a)
14,243
690,786
RPC, Inc.
43,408
342,055
SM Energy Co.
112,800
3,500,184
Talos Energy, Inc.(a)
63,126
1,004,966
Tidewater, Inc.(a)
22,970
2,051,910
World Kinect Corp.
27,896
752,355
 
49,905,277
Equity Real Estate Investment Trusts — 5.8%
Acadia Realty Trust(b)
65,139
1,408,305
American Assets Trust, Inc.(b)
23,646
490,418
Apple Hospitality REIT, Inc.(b)
109,321
1,472,554
Broadstone Net Lease, Inc.(b)
94,294
1,867,021
Centerspace(b)
8,194
559,404
Curbline Properties Corp.(b)
48,308
1,333,301
DiamondRock Hospitality Co.(b)
102,044
1,040,849
Douglas Emmett, Inc.(b)
83,807
905,954
Easterly Government Properties, Inc.(b)
22,023
515,558
Essential Properties Realty Trust, Inc.(b)
104,591
3,287,295
Four Corners Property Trust, Inc.(b)
54,551
1,394,869
Getty Realty Corp.(b)
27,203
900,963
Global Net Lease, Inc.(b)
97,627
933,314
Highwoods Properties, Inc.(b)
54,783
1,331,775
Innovative Industrial Properties, Inc.(b)
13,878
752,881
JBG SMITH Properties(b)
29,317
439,755
LTC Properties, Inc.(b)
23,881
912,732
LXP Industrial Trust(b)
29,440
1,499,085
Medical Properties Trust, Inc.(b)
244,839
1,209,505
Millrose Properties, Inc.(b)
76,836
2,356,560
NexPoint Residential Trust, Inc.(b)
10,637
307,303
Outfront Media, Inc.(b)
72,505
2,236,779
Pebblebrook Hotel Trust(b)
57,022
801,159
Phillips Edison & Co., Inc.(b)
62,691
2,517,984
Ryman Hospitality Properties, Inc.(b)
31,397
3,299,511
Safehold, Inc.(b)
23,143
370,751
Saul Centers, Inc.(b)
6,233
214,602
SL Green Realty Corp.(b)
35,351
1,499,236
8
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Equity Real Estate Investment Trusts — 5.8% (continued)
Sunstone Hotel Investors, Inc.(b)
94,697
929,925
Tanger, Inc.(b)
57,364
2,127,057
Terreno Realty Corp.(b)
51,916
3,384,923
The Macerich Company(b)
127,633
2,773,465
Universal Health Realty Income Trust(b)
6,508
264,876
Urban Edge Properties(b)
62,505
1,370,110
Veris Residential, Inc.(b)
40,647
771,074
Whitestone REIT(b)
22,527
426,661
Xenia Hotels & Resorts, Inc.(b)
47,651
775,282
 
48,682,796
Financial Services — 7.4%
Acadian Asset Management, Inc.
13,168
886,865
Adamas Trust, Inc.(b)
41,676
374,250
Apollo Commercial Real Estate Finance, Inc.(b)
65,270
714,054
Arbor Realty Trust, Inc.(b)
97,530
770,487
ARMOUR Residential REIT, Inc.(b)
56,015
982,503
Artisan Partners Asset Management, Inc., Cl. A
35,220
1,318,637
BGC Group, Inc., Cl. A
180,984
2,032,450
Blackstone Mortgage Trust, Inc., Cl. A(b)
79,044
1,501,046
Bread Financial Holdings, Inc.
21,977
1,863,210
Cohen & Steers, Inc.
13,757
966,979
Donnelley Financial Solutions, Inc.(a)
13,224
665,167
Ellington Financial, Inc.(b)
62,691
830,656
Enact Holdings, Inc.
14,257
609,202
Encore Capital Group, Inc.(a)
11,130
921,230
Enova International, Inc.(a)
12,316
2,086,454
EVERTEC, Inc.
31,687
935,717
EZCORP, Inc., Cl. A(a)
29,184
956,651
Franklin BSP Realty Trust, Inc.(b)
40,964
372,772
HA Sustainable Infrastructure Capital, Inc.
63,610
2,668,439
Jackson Financial, Inc., Cl. A
35,291
4,085,639
MarketAxess Holdings, Inc.
18,524
2,911,788
Merchants Bancorp
14,551
677,204
Moelis & Co., Cl. A
36,875
2,401,300
Navient Corp.
32,572
300,965
NCR Atleos Corp.(a)
36,829
1,634,471
NMI Holdings, Inc.(a)
37,823
1,464,128
Payoneer Global, Inc.(a)
143,187
713,071
PennyMac Mortgage Investment Trust(b)
42,981
523,509
Piper Sandler Companies
33,688
2,937,594
PJT Partners, Inc., Cl. A
12,113
1,850,140
PRA Group, Inc.(a)
19,442
423,641
PROG Holdings, Inc.
19,648
703,988
Radian Group, Inc.
67,519
2,419,206
Redwood Trust, Inc.(b)
62,321
346,505
Rithm Capital Corp.(b)
277,017
2,709,226
Sezzle, Inc.(a)
8,480
675,008
StepStone Group, Inc., Cl. A
36,744
1,943,758
StoneX Group, Inc.(a)
34,903
3,700,765
The Western Union Company
159,479
1,449,664
Two Harbors Investment Corp.(b)
51,952
601,085
9
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Financial Services — 7.4% (continued)
Victory Capital Holdings, Inc., Cl. A
23,654
1,857,075
Virtu Financial, Inc., Cl. A
39,774
1,975,177
Virtus Investment Partners, Inc.
3,190
464,304
Walker & Dunlop, Inc.
16,963
854,087
WisdomTree, Inc.
57,086
970,462
World Acceptance Corp.(a)
1,479
217,650
 
62,268,179
Food, Beverage & Tobacco — 1.4%
Cal-Maine Foods, Inc.
22,314
1,723,980
Fresh Del Monte Produce, Inc.
16,320
683,645
Freshpet, Inc.(a)
24,456
1,647,845
J & J Snack Foods Corp.
7,589
669,805
John B. Sanfilippo & Son, Inc.
4,461
364,865
Lamb Weston Holdings, Inc.
69,209
3,014,052
National Beverage Corp.(a)
11,471
392,538
The Simply Good Foods Company(a)
42,835
572,704
The Vita Coco Company, Inc.(a)
21,730
1,433,963
Tootsie Roll Industries, Inc.
10,058
424,649
Universal Corp.
12,366
662,570
Vital Farms, Inc.(a)
19,088
260,551
 
11,851,167
Health Care Equipment & Services — 5.7%
Acadia Healthcare Co., Inc.(a)
45,890
1,188,321
AdaptHealth Corp.(a)
53,480
701,123
Addus HomeCare Corp.(a)
9,044
876,273
AMN Healthcare Services, Inc.(a)
19,205
393,126
Artivion, Inc.(a)
20,760
743,831
Astrana Health, Inc.(a)
21,768
743,159
Avanos Medical, Inc.(a)
23,085
568,353
BrightSpring Health Services, Inc.(a)
65,968
3,164,485
Certara, Inc.(a)
59,651
365,661
Concentra Group Holdings Parent, Inc.
59,230
1,330,898
CONMED Corp.
15,318
561,558
CorVel Corp.(a)
15,565
894,365
Embecta Corp.
29,303
268,122
Enovis Corp.(a)
28,496
667,946
Glaukos Corp.(a)
28,622
4,112,123
HealthStream, Inc.
12,206
253,396
ICU Medical, Inc.(a)
12,288
1,464,730
Inspire Medical Systems, Inc.(a)
13,014
730,606
Integer Holdings Corp.(a)
17,582
1,556,183
Integra LifeSciences Holdings Corp.(a)
33,079
348,653
LeMaitre Vascular, Inc.
10,475
1,149,631
LifeStance Health Group, Inc.(a)
97,126
735,244
Merit Medical Systems, Inc.(a)
29,546
2,014,446
Molina Healthcare, Inc.(a)
25,664
4,994,728
National HealthCare Corp.
6,209
1,075,958
Neogen Corp.(a)
109,049
1,025,061
NeoGenomics, Inc.(a)
64,887
600,854
Omnicell, Inc.(a)
22,362
926,234
Pediatrix Medical Group, Inc.(a)
41,951
944,317
10
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Health Care Equipment & Services — 5.7% (continued)
Privia Health Group, Inc.(a)
57,463
1,427,955
Progyny, Inc.(a)
40,119
745,411
QuidelOrtho Corp.(a)
33,885
416,785
RadNet, Inc.(a)
34,712
1,962,963
Schrodinger, Inc.(a)
28,235
337,691
Select Medical Holdings Corp.
54,964
901,959
STAAR Surgical Co.(a)
24,774
653,043
Tandem Diabetes Care, Inc.(a)
33,617
656,372
Teleflex, Inc.
22,024
2,728,994
TransMedics Group, Inc.(a)
17,030
1,716,454
U.S. Physical Therapy, Inc.
7,546
537,426
UFP Technologies, Inc.(a)
3,841
736,051
Waystar Holding Corp.(a)
57,523
1,229,554
 
48,450,043
Household & Personal Products — .6%
Central Garden & Pet Co.(a)
4,039
149,524
Central Garden & Pet Co., Cl. A(a)
25,563
857,894
Edgewell Personal Care Co.
23,697
534,367
Energizer Holdings, Inc.
30,233
591,962
Interparfums, Inc.
9,059
826,362
Reynolds Consumer Products, Inc.
27,077
567,805
WD-40 Co.
6,756
1,418,490
 
4,946,404
Insurance — 2.1%
AMERISAFE, Inc.
9,262
280,639
Assured Guaranty Ltd.
21,589
1,768,139
Employers Holdings, Inc.
11,369
478,862
Genworth Financial, Inc.(a)
199,004
1,749,245
Goosehead Insurance, Inc., Cl. A(a)
12,226
547,603
HCI Group, Inc.
5,344
820,678
Horace Mann Educators Corp.
20,375
925,840
Kemper Corp.
29,033
978,122
Lincoln National Corp.
84,242
3,185,190
Mercury General Corp.
13,292
1,293,444
Palomar Holdings, Inc.(a)
13,207
1,589,859
ProAssurance Corp.(a)
25,597
632,246
Safety Insurance Group, Inc.
7,340
551,674
SiriusPoint Ltd.(a)
52,230
1,222,704
Stewart Information Services Corp.
14,953
1,046,560
Trupanion, Inc.(a)
16,932
406,199
United Fire Group, Inc.
10,921
440,335
 
17,917,339
Materials — 4.7%
Alpha Metallurgical Resources, Inc.(a)
5,414
1,009,440
Balchem Corp.
16,139
2,608,385
Celanese Corp.
54,570
3,697,663
Century Aluminum Co.(a)
26,507
1,575,576
Eastman Chemical Co.
56,860
4,155,898
Element Solutions, Inc.
113,362
4,828,088
FMC Corp.
62,252
957,436
Hawkins, Inc.
10,416
1,744,159
11
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Materials — 4.7% (continued)
HB Fuller Co.
27,066
1,638,034
Ingevity Corp.(a)
18,037
1,374,239
Innospec, Inc.
12,347
941,582
Kaiser Aluminum Corp.
8,050
1,371,962
Koppers Holdings, Inc.
9,583
391,274
Materion Corp.
10,319
1,896,735
Metallus, Inc.(a)
17,814
342,741
Minerals Technologies, Inc.
15,450
1,111,473
O-I Glass, Inc.(a)
76,629
698,090
Quaker Chemical Corp.
6,830
928,129
Sensient Technologies Corp.
21,144
2,402,804
Stepan Co.
10,647
532,670
Sylvamo Corp.
16,347
698,507
The Chemours Company
74,426
2,005,781
Warrior Met Coal, Inc.
26,198
2,353,890
Worthington Steel, Inc.
16,140
620,260
 
39,884,816
Media & Entertainment — 2.7%
Cable One, Inc.(a)
2,331
213,263
Cargurus, Inc.(a)
40,483
1,476,010
Cinemark Holdings, Inc.
51,359
1,516,118
DoubleVerify Holdings, Inc.(a)
66,496
732,786
IAC, Inc.(a)
32,726
1,458,271
John Wiley & Sons, Inc., Cl. A
20,263
829,365
Madison Square Garden Sports Corp.(a)
8,959
3,068,099
Match Group, Inc.
117,643
4,402,201
QuinStreet, Inc.(a)
27,998
357,254
Scholastic Corp.
11,608
468,499
Shutterstock, Inc.
11,856
191,712
Sphere Entertainment Co.(a)
13,271
1,890,454
TripAdvisor, Inc.(a)
56,826
632,473
Versant Media Group, Inc.
72,447
2,911,645
Yelp, Inc.(a)
29,038
801,449
Ziff Davis, Inc.(a)
19,638
898,635
ZoomInfo Technologies, Inc.(a)
132,497
828,106
 
22,676,340
Pharmaceuticals, Biotechnology & Life Sciences — 5.3%
ACADIA Pharmaceuticals, Inc.(a)
62,389
1,400,633
ADMA Biologics, Inc.(a)
117,953
1,209,018
Alkermes PLC(a)
82,285
2,773,827
Amneal Pharmaceuticals, Inc.(a)
84,373
1,085,880
Amphastar Pharmaceuticals, Inc.(a)
17,587
386,211
ANI Pharmaceuticals, Inc.(a)
8,937
710,045
Apellis Pharmaceuticals, Inc.(a)
51,072
2,091,398
Arcus Biosciences, Inc.(a)
41,953
1,069,801
Azenta, Inc.(a)
20,321
499,287
BioLife Solutions, Inc.(a)
19,222
405,200
Catalyst Pharmaceuticals, Inc.(a)
57,484
1,617,025
Collegium Pharmaceutical, Inc.(a)
15,687
529,123
Corcept Therapeutics, Inc.(a)
46,653
2,170,298
Cytek Biosciences, Inc.(a)
56,304
256,746
12
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Pharmaceuticals, Biotechnology & Life Sciences — 5.3% (continued)
Fortrea Holdings, Inc.(a)
45,782
526,493
Harmony Biosciences Holdings, Inc.(a)
20,059
627,044
Indivior Pharmaceuticals, Inc.(a)
62,199
2,287,679
Innoviva, Inc.(a)
35,196
809,156
Krystal Biotech, Inc.(a)
12,861
3,372,926
Ligand Pharmaceuticals, Inc.(a)
9,808
2,250,446
Organon & Co.
129,401
1,714,563
Pacira BioSciences, Inc.(a)
20,671
526,904
Perrigo Co. PLC
68,936
816,202
Phibro Animal Health Corp., Cl. A
10,175
541,106
Prestige Consumer Healthcare, Inc.(a)
23,518
1,324,534
Protagonist Therapeutics, Inc.(a)
29,285
2,898,336
PTC Therapeutics, Inc.(a)
40,011
2,603,116
Sarepta Therapeutics, Inc.(a)
52,011
1,085,990
Supernus Pharmaceuticals, Inc.(a)
28,574
1,371,552
TG Therapeutics, Inc.(a)
67,756
2,288,798
Veracyte, Inc.(a)
39,393
1,296,818
Vericel Corp.(a)
25,208
875,474
Vir Biotechnology, Inc.(a)
56,597
578,138
Xencor, Inc.(a)
35,729
426,247
 
44,426,014
Real Estate Management & Development — .5%
Cushman & Wakefield Ltd.(a)
116,167
1,630,985
eXp World Holdings, Inc.
44,271
275,365
Kennedy-Wilson Holdings, Inc.
59,358
647,002
Marcus & Millichap, Inc.
11,991
333,230
The St. Joe Company
19,856
1,282,102
 
4,168,684
Semiconductors & Semiconductor Equipment — 4.9%
ACM Research, Inc., Cl. A(a)
26,662
1,378,159
Alpha & Omega Semiconductor Ltd.(a)
12,105
525,720
Axcelis Technologies, Inc.(a)
15,298
2,128,105
Cohu, Inc.(a)
23,324
1,104,391
Diodes, Inc.(a)
22,862
2,449,663
Enphase Energy, Inc.(a)
65,213
2,149,420
FormFactor, Inc.(a)
38,630
5,250,976
Ichor Holdings Ltd.(a)
17,054
1,125,052
Impinj, Inc.(a)
13,465
1,951,348
Kulicke & Soffa Industries, Inc.
26,077
2,229,583
MaxLinear, Inc.(a)
40,497
2,865,163
PDF Solutions, Inc.(a)
15,811
677,501
Penguin Solutions, Inc.(a)
23,609
717,950
Photronics, Inc.(a)
29,434
1,456,394
Power Integrations, Inc.
27,803
2,021,556
Qorvo, Inc.(a)
42,041
3,961,103
Semtech Corp.(a)
46,116
4,844,486
SolarEdge Technologies, Inc.(a)
29,732
1,274,314
Ultra Clean Holdings, Inc.(a)
22,618
1,767,597
Veeco Instruments, Inc.(a)
29,943
1,492,659
 
41,371,140
13
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Software & Services — 3.2%
A10 Networks, Inc.
35,861
956,771
ACI Worldwide, Inc.(a)
51,373
2,220,341
Adeia, Inc.
54,828
1,746,272
Agilysys, Inc.(a)
12,678
812,153
Alarm.com Holdings, Inc.(a)
24,857
1,103,899
BlackLine, Inc.(a)
24,901
778,156
Box, Inc., Cl. A(a)
71,357
1,726,839
Cleanspark, Inc.(a)
127,196
1,593,766
Clear Secure, Inc., Cl. A
44,184
2,358,984
DXC Technology Co.(a)
84,102
952,035
Everforth, Inc.(a)
21,475
453,123
Grid Dynamics Holdings, Inc.(a)
31,802
180,953
Life360, Inc.(a)
39,052
1,682,751
LiveRamp Holdings, Inc.(a)
31,748
927,994
MARA Holdings, Inc.(a)
188,463
2,259,671
N-able, Inc.(a)
36,327
188,174
NCR Voyix Corp.(a)
68,725
473,515
Progress Software Corp.(a)
21,181
589,891
Q2 Holdings, Inc.(a)
31,098
1,578,223
RingCentral, Inc., Cl. A
37,716
1,516,938
Sprinklr, Inc., Cl. A(a)
60,483
297,576
SPS Commerce, Inc.(a)
18,716
1,050,342
Teradata Corp.(a)
46,410
1,222,904
 
26,671,271
Technology Hardware & Equipment — 5.8%
Arlo Technologies, Inc.(a)
52,512
737,794
Badger Meter, Inc.
14,686
1,775,684
Benchmark Electronics, Inc.
17,780
1,458,849
Calix, Inc.(a)
29,951
1,304,666
Corsair Gaming, Inc.(a)
22,609
153,515
CTS Corp.
14,475
826,522
Diebold Nixdorf, Inc.(a)
17,506
1,344,636
Digi International, Inc.(a)
18,822
1,054,785
ePlus, Inc.
12,946
1,096,397
Extreme Networks, Inc.(a)
67,456
1,490,103
Harmonic, Inc.(a)
56,699
648,070
Insight Enterprises, Inc.(a)
15,415
1,123,753
Itron, Inc.(a)
22,824
1,912,651
Knowles Corp.(a)
42,145
1,314,502
Mirion Technologies, Inc.(a)
121,925
2,408,019
Napco Security Technologies, Inc.
17,805
832,384
NetScout Systems, Inc.(a)
34,445
1,160,796
OSI Systems, Inc.(a)
7,717
2,214,162
PC Connection, Inc.
5,802
369,819
Plexus Corp.(a)
13,348
3,344,742
Ralliant Corp.
56,216
2,554,455
Rogers Corp.(a)
8,335
1,131,476
Sanmina Corp.(a)
27,212
5,927,318
ScanSource, Inc.(a)
9,923
408,034
Viasat, Inc.(a)
67,690
4,461,448
14
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 99.1% (continued)
Technology Hardware & Equipment — 5.8% (continued)
Viavi Solutions, Inc.(a)
115,310
6,042,244
Vishay Intertechnology, Inc.
61,377
1,778,092
 
48,874,916
Telecommunication Services — 1.2%
Cogent Communications Holdings, Inc.
23,869
540,633
Gogo, Inc.(a)
40,191
167,998
Iridium Communications, Inc.
52,231
2,040,665
Lumen Technologies, Inc.(a)
470,228
4,156,815
Shenandoah Telecommunications Co.
22,338
351,377
Telephone and Data Systems, Inc.
48,977
2,206,904
Uniti Group, Inc.(a)
89,329
1,056,762
 
10,521,154
Transportation — 1.9%
Allegiant Travel Co.(a)
6,674
504,821
ArcBest Corp.
11,091
1,414,879
Forward Air Corp.(a)
10,734
226,058
Heartland Express, Inc.
23,593
315,674
Hertz Global Holdings, Inc.(a)
61,363
390,269
Hub Group, Inc., Cl. A
30,291
1,327,655
JetBlue Airways Corp.(a)
147,094
684,723
Lyft, Inc., Cl. A(a)
198,392
2,807,247
Marten Transport Ltd.
29,244
440,999
Matson, Inc.
15,538
2,710,293
RXO, Inc.(a)
81,778
1,633,107
Schneider National, Inc., Cl. B
24,856
772,773
SkyWest, Inc.(a)
19,985
1,641,168
Sun Country Airlines Holdings, Inc.(a)
26,996
426,537
Werner Enterprises, Inc.
29,579
1,090,578
 
16,386,781
Utilities — 2.2%
American States Water Co.
19,293
1,452,570
Avista Corp.
40,716
1,673,428
California Water Service Group
29,696
1,254,359
Chesapeake Utilities Corp.
11,745
1,481,279
Clearway Energy, Inc., Cl. A
17,249
697,377
Clearway Energy, Inc., Cl. C
42,271
1,706,058
H2O America
18,676
1,049,404
Hawaiian Electric Industries, Inc.(a)
85,630
1,290,444
MDU Resources Group, Inc.
101,852
2,294,726
MGE Energy, Inc.
18,210
1,460,806
Middlesex Water Co.
9,228
469,521
Northwest Natural Holding Co.
20,750
1,099,750
Otter Tail Corp.
20,883
1,863,599
Unitil Corp.
9,064
475,497
 
18,268,818
Total Equity Securities - Common Stocks
(cost $556,684,467)
837,105,800
Exchange-Traded Funds — .2%
Registered Investment Companies — .2%
iShares Core S&P Small-Cap ETF
(cost $1,805,304)
14,422
1,977,256
 
15
SCHEDULE OF INVESTMENTS (Unaudited) (continued)
Description
 
 
 
Number of Rights
Value ($)
Rights — .0%
Pharmaceuticals, Biotechnology & Life Sciences — .0%
Omniab Operations, Inc.-Earnout 12.5
9,476
0
Omniab Operations, Inc.-Earnout 15.0
9,476
0
Total Rights
(cost $33,892)
0
 
 
 
1-Day
Yield (%)
 
Shares
 
Investment Companies — .9%
Registered Investment Companies — .9%
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares(c)
(cost $7,634,620)
3.70
7,634,620
7,634,620
Total Investments (cost $566,158,283)
 
   100.2%
846,717,676
Liabilities, Less Cash and Receivables
 
     (.2%)
 (1,746,194)
Net Assets
   100.0%
844,971,482
 
ETF—Exchange-Traded Fund
REIT—Real Estate Investment Trust
 
(a)
Non-income producing security.
(b)
Investment in real estate investment trust within the United States.
(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.
 
Affiliated Issuers
Description
Value ($)
10/31/2025
Purchases ($)†
Sales ($)
Value ($)
4/30/2026
Dividends/
Distributions ($)
Registered Investment Companies - .9%
Dreyfus Institutional Preferred Government Plus Money
Market Fund, Institutional Shares - .9%
3,302,173
43,570,212
(39,237,765)
7,634,620
54,798
Investment of Cash Collateral for Securities Loaned - .0%
Dreyfus Institutional Preferred Government Plus Money
Market Fund, Institutional Shares - .0%
-
23,947,963
(23,947,963)
-
17,175††
Total - .9%
3,302,173
67,518,175
(63,185,728)
7,634,620
71,973
 
†
Includes reinvested dividends/distributions.
††
Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and
other payments to and from borrowers of securities.
 
Futures
Description
Number of
Contracts
Expiration
Notional
Value ($)
Market
Value ($)
Unrealized
Appreciation ($)
Futures Long
E-mini Russell 2000 Index
59
6/18/2026
7,604,635
8,283,010
678,375
Gross Unrealized Appreciation
 
 
678,375
See notes to financial statements.
16
STATEMENT OF ASSETS AND LIABILITIES 
April 30, 2026 (Unaudited) 
 
Cost
Value
Assets ($):
Investments in securities—See Schedule of Investments:
Unaffiliated issuers
558,523,663
839,083,056
Affiliated issuers
7,634,620
7,634,620
Cash collateral held by broker—Note 4
731,000
Receivable for investment securities sold
405,559
Dividends receivable
225,707
Receivable for shares of Common Stock subscribed
201,131
Receivable for futures variation margin—Note 4
192,153
 
848,473,226
Liabilities ($):
Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(b)
308,501
Cash overdraft due to Custodian
27,596
Payable for shares of Common Stock redeemed
2,392,758
Payable for investment securities purchased
734,904
Directors’ fees and expenses payable
37,985
 
3,501,744
Net Assets ($)
844,971,482
Composition of Net Assets ($):
Paid-in capital
480,521,383
Total distributable earnings (loss)
364,450,099
Net Assets ($)
844,971,482
 
Net Asset Value Per Share
Investor Shares
Class I
Net Assets ($)
743,552,826
101,418,656
Shares Outstanding
29,389,902
4,030,310
Net Asset Value Per Share ($)
25.30
25.16
See notes to financial statements.
17
STATEMENT OF OPERATIONS
Six Months Ended April 30, 2026 (Unaudited) 
 
 
Investment Income ($):
Income:
Cash dividends (net of $7,102 foreign taxes withheld at source):
Unaffiliated issuers
6,801,147
Affiliated issuers
54,798
Affiliated income net of rebates from securities lending—Note 1(c)
17,175
Interest
9,070
Total Income
6,882,190
Expenses:
Management fee—Note 3(a)
1,020,100
Shareholder servicing costs—Note 3(b)
888,992
Directors’ fees—Notes 3(a) and 3(c)
60,300
Loan commitment fees—Note 2
7,929
Interest expense—Note 2
3,823
Total Expenses
1,981,144
Less—Directors’ fees reimbursed by
BNY Mellon Investment Adviser, Inc.—Note 3(a)
(60,300
)
Net Expenses
1,920,844
Net Investment Income
4,961,346
Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):
Net realized gain (loss) on investments
90,860,681
Net realized gain (loss) on futures
87,086
Net Realized Gain (Loss)
90,947,767
Net change in unrealized appreciation (depreciation) on investments
33,745,103
Net change in unrealized appreciation (depreciation) on futures
555,959
Net Change in Unrealized Appreciation (Depreciation)
34,301,062
Net Realized and Unrealized Gain (Loss) on Investments
125,248,829
Net Increase in Net Assets Resulting from Operations
130,210,175
See notes to financial statements.
18
STATEMENT OF CHANGES IN NET ASSETS
  
 
Six Months Ended
April 30, 2026
(Unaudited)
Year Ended October 31, 2025
 
Operations ($):
Net investment income
4,961,346
10,449,752
Net realized gain (loss) on investments
90,947,767
123,649,273
Net change in unrealized appreciation (depreciation) on investments
34,301,062
(95,428,524)
Net Increase (Decrease) in Net Assets Resulting from Operations
130,210,175
38,670,501
Distributions ($):
Distributions to shareholders:
Investor Shares
(95,821,135)
(119,906,826)
Class I
(15,850,422)
(34,421,810)
Total Distributions
(111,671,557)
(154,328,636)
Capital Stock Transactions ($):
Net proceeds from shares sold:
Investor Shares
21,799,688
49,372,962
Class I
9,623,781
34,451,872
Distributions reinvested:
Investor Shares
94,748,684
118,649,562
Class I
14,469,265
32,128,411
Cost of shares redeemed:
Investor Shares
(114,184,676)
(230,520,837)
Class I
(43,759,948)
(157,993,708)
Increase (Decrease) in Net Assets from Capital Stock Transactions
(17,303,206)
(153,911,738)
Total Increase (Decrease) in Net Assets
1,235,412
(269,569,873)
Net Assets ($):
Beginning of Period
843,736,070
1,113,305,943
End of Period
844,971,482
843,736,070
Capital Share Transactions (Shares):
Investor Shares(a)
Shares sold
911,322
2,059,020
Shares issued for distributions reinvested
4,188,713
4,886,721
Shares redeemed
(4,780,407)
(9,517,855)
Net Increase (Decrease) in Shares Outstanding
319,628
(2,572,114)
Class I(a)
Shares sold
404,516
1,423,564
Shares issued for distributions reinvested
643,651
1,330,369
Shares redeemed
(1,865,940)
(6,781,687)
Net Increase (Decrease) in Shares Outstanding
(817,773)
(4,027,754)
 
(a)
During the period ended October 31, 2025, 3,455 Investor shares representing $84,881 were exchanged for 3,472 Class I shares.
See notes to financial statements.
19
FINANCIAL HIGHLIGHTS
The following tables describe the performance for each share class for the fiscal periods indicated. All information (except portfolio turnover rate) reflects financial results for a single fund share. Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. 
 
Six Months Ended
April 30, 2026
(Unaudited) 
Year Ended October 31,
Investor Shares
2025
2024
2023
2022
2021
Per Share Data ($):
 
 
 
 
 
Net asset value, beginning of period
24.89
27.49
23.24
28.82
36.44
24.77
Investment Operations:
Net investment income(a)
.14
.26
.33
.34
.30
.27
Net realized and unrealized gain (loss) on
investments
3.69
1.02
6.37
(2.52
)
(4.32
)
13.63
Total from Investment Operations
3.83
1.28
6.70
(2.18
)
(4.02
)
13.90
Distributions:
Dividends from net investment income
(.29
)
(.37
)
(.37
)
(.34
)
(.30
)
(.27
)
Dividends from net realized gain on
investments
(3.13
)
(3.51
)
(2.08
)
(3.06
)
(3.30
)
(1.96
)
Total Distributions
(3.42
)
(3.88
)
(2.45
)
(3.40
)
(3.60
)
(2.23
)
Net asset value, end of period
25.30
24.89
27.49
23.24
28.82
36.44
Total Return (%)
17.01
(b)
5.03
29.52
(8.13
)
(12.29
)
58.22
Ratios/Supplemental Data (%):
 
 
 
 
 
Ratio of total expenses to average net
assets(c)
.52
(d)
.51
.51
.51
.51
.51
Ratio of net expenses
to average net assets(c),(e)
.50
(d)
.50
.51
.50
.50
.50
Ratio of net investment income to average
net assets(c),(e)
1.18
(d)
1.06
1.27
1.30
.99
.79
Portfolio Turnover Rate
28.66
(b)
47.87
40.52
37.96
25.75
26.70
Net Assets, end of period ($ x 1,000)
743,553
723,472
869,834
848,876
1,110,002
1,519,919
 
(a)
Based on average shares outstanding.
(b)
Not annualized.
(c)
Amount does not include the expenses of the underlying funds.
(d)
Annualized.
(e)
Amount inclusive of Directors’ fees reimbursed by BNY Mellon Investment Adviser, Inc.
See notes to financial statements.
20
 
 
Six Months Ended
April 30, 2026
(Unaudited) 
Year Ended October 31,
Class I Shares
2025
2024
2023
2022
2021
Per Share Data ($):
 
 
 
 
 
Net asset value, beginning of period
24.81
27.43
23.20
28.80
36.43
24.76
Investment Operations:
Net investment income(a)
.17
.32
.40
.40
.38
.35
Net realized and unrealized gain (loss) on
investments
3.67
1.03
6.35
(2.51
)
(4.32
)
13.62
Total from Investment Operations
3.84
1.35
6.75
(2.11
)
(3.94
)
13.97
Distributions:
Dividends from net investment income
(.36
)
(.46
)
(.44
)
(.43
)
(.39
)
(.34
)
Dividends from net realized gain on
investments
(3.13
)
(3.51
)
(2.08
)
(3.06
)
(3.30
)
(1.96
)
Total Distributions
(3.49
)
(3.97
)
(2.52
)
(3.49
)
(3.69
)
(2.30
)
Net asset value, end of period
25.16
24.81
27.43
23.20
28.80
36.43
Total Return (%)
17.13
(b)
5.30
29.83
(7.90
)
(12.08
)
58.63
Ratios/Supplemental Data (%):
 
 
 
 
 
Ratio of total expenses to average net
assets(c)
.27
(d)
.26
.26
.26
.26
.26
Ratio of net expenses
to average net assets(c),(e)
.25
(d)
.25
.26
.25
.25
.25
Ratio of net investment income to average
net assets(c),(e)
1.43
(d)
1.31
1.52
1.55
1.24
1.03
Portfolio Turnover Rate
28.66
(b)
47.87
40.52
37.96
25.75
26.70
Net Assets, end of period ($ x 1,000)
101,419
120,264
243,472
223,096
297,615
413,833
 
(a)
Based on average shares outstanding.
(b)
Not annualized.
(c)
Amount does not include the expenses of the underlying funds.
(d)
Annualized.
(e)
Amount inclusive of Directors’ fees reimbursed by BNY Mellon Investment Adviser, Inc.
See notes to financial statements.
21
NOTES TO FINANCIAL STATEMENTS (Unaudited)
NOTE 1—
Significant Accounting Policies:
BNY Mellon Smallcap Stock Index Fund (the “fund”) is a separate diversified series of BNY Mellon Index Funds, Inc. (the “Company”), which is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end management investment company and operates as a series company currently offering three series, including the fund. The fund’s investment objective is to seek to match the performance of the S&P SmallCap 600® Index. BNY Mellon Investment Adviser, Inc. (the “Adviser”), a wholly-owned subsidiary of The Bank of New York Mellon Corporation (“BNY”), serves as the fund’s investment adviser.
BNY Mellon Securities Corporation (the “Distributor”), a wholly-owned subsidiary of the Adviser, is the distributor of the fund’s shares, which are sold to the public without a sales charge. The fund is authorized to issue 300 million shares of $.001 par value Common Stock. The fund currently has authorized two classes of shares: Investor shares (200 million shares authorized) and Class I (100 million shares authorized). Investor shares are sold primarily to retail investors through financial intermediaries and bear shareholder services plan fees. Class I shares are sold primarily to bank trust departments and other financial service providers (including BNY and its affiliates), acting on behalf of customers having a qualified trust or an investment account or relationship at such institution, and bear no shareholder services plan fees. Other differences between the classes include the services offered to and the expenses borne by each class, and certain voting rights. Income, expenses (other than expenses attributable to a specific class), and realized and unrealized gains or losses on investments are allocated to each class of shares based on its relative net assets.
The Company accounts separately for the assets, liabilities and operations of each series. Expenses directly attributable to each series are charged to that series’ operations; expenses which are applicable to all series of the Company are allocated among them on a pro rata basis.
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 Company enters into contracts that contain a variety of indemnifications. The fund’s maximum exposure under these arrangements is unknown. The fund does not anticipate recognizing any loss related to these arrangements.
(a) Portfolio valuation: 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:
Equity investments, including ETFs (but not including investments in other open-end registered investment companies), generally are valued at the last sale price on the day of valuation on the securities exchange or national securities market on which such securities primarily are traded. Securities listed on Nasdaq markets generally will be valued at the official closing price. If there are no transactions
22
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
in a security, or no official closing prices for a Nasdaq market-listed security on that day, the security will be valued at the average of the most recent bid and asked prices. Bid price is used when no asked price is available. Open short positions for which there is no sale price on a given day are valued at the lowest asked price. Investments in other open-end investment companies are valued at their reported net asset values (“NAVs”) each day. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.
Fair value of foreign equity securities may be determined with the assistance of a pricing service using correlations between the movement of prices of foreign securities and indexes of domestic securities and other appropriate indicators, such as closing market prices of relevant American Depositary Receipts and futures contracts. The valuation of a security based on this fair value process may differ from the security’s most recent closing price and from the prices used by other mutual funds to calculate their NAVs. Foreign securities held by a fund may trade on days when the fund does not calculate its NAV and thus may affect the fund’s NAV on days when investors will not be able to purchase or sell (redeem) fund shares. Utilizing these techniques may result in transfers between Level 1 and Level 2 of the fair value hierarchy.
Restricted securities, as well as securities or other assets for which recent market quotations or official closing prices are not readily available or are determined not to reflect accurately fair value (such as when the value of a security has been materially affected by events occurring after the close of the exchange or market on which the security is principally traded, but before the fund calculates its NAV), or which are not valued by the Service, are valued at fair value as determined in good faith based on procedures approved by the Company’s Board of Directors (the “Board”). Fair value of investments is determined by the Adviser, as the fund’s valuation designee pursuant to Rule 2a-5 under the Act, using such information as it deems appropriate under the circumstances. The factors that may be considered when fair valuing a security include 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. Using fair value to price investments may result in a value that is different from a security’s most recent closing price and from the prices used by other mutual funds to calculate their NAVs. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.
Futures contracts will be valued at the most recent settlement price and are generally categorized within Level 1 of the fair value hierarchy.
The following is a summary of the inputs used as of April 30, 2026 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
836,813,882
291,918††
—
837,105,800
Exchange-Traded Funds
1,977,256
—
—
1,977,256
Rights
—
0
—
0
Investment Companies
7,634,620
—
—
7,634,620
 
846,425,758
291,918
—
846,717,676
Other Financial Instruments:
Futures†††
678,375
—
—
678,375
 
678,375
—
—
678,375
 
†
See Schedule 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, but only variation margin on exchange-traded and centrally cleared derivatives,
if any, are reported in the Statement of Assets and Liabilities.
(b) Foreign taxes: The fund may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the fund invests. These foreign taxes, if any, are paid by the fund and are reflected in the Statement of Operations, if applicable. Foreign taxes payable or deferred or those
23
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
subject to reclaims as of April 30, 2026, if any, are disclosed in the fund’s Statement of Assets and Liabilities.
(c) Securities transactions and investment income: Securities transactions are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income is recognized on the ex-dividend date and interest income, including, where applicable, accretion of discount and amortization of premium on investments, is recognized on the accrual basis.
Pursuant to a securities lending agreement with BNY, 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 the Adviser, or U.S. Government and Agency securities. Any non-cash collateral received cannot be sold or re-pledged by the fund, except in the event of borrower default, and is not reflected in the Statement of Assets and Liabilities. The securities on loan, if any, are also disclosed in the fund’s Schedule of Investments. 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, BNY 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. During the period ended April 30, 2026, BNY earned $2,336 from the lending of the fund’s portfolio securities, pursuant to the securities lending agreement.
For financial reporting purposes, the fund elects not to offset assets and liabilities subject to a securities lending agreement, if any, in the Statement of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statement of Assets and Liabilities. As of April 30, 2026, the fund had no securities on loan.
(d) Affiliated issuers: Investments in other investment companies advised by the Adviser are considered “affiliated” under the Act.
(e) Market Risk: The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed-income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies world-wide. Local, regional or global events such as war, military conflicts, acts of terrorism, natural disasters, the spread of infectious illness or other public health issues, recessions, elevated levels of government debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events could have a significant impact on the fund and its investments.
Indexing Strategy Risk: The fund uses an indexing strategy. It does not attempt to manage market volatility, use defensive strategies or reduce the effects of any long-term periods of poor index performance. The correlation between fund and index performance may be affected by the fund’s expenses and/or use of sampling techniques, changes in securities markets, changes in the composition of the index and the timing of purchases and redemptions of fund shares.
(f) Dividends and distributions to shareholders: Dividends and distributions are recorded on the ex-dividend date. Dividends from net investment income and dividends from net realized capital gains, if any, are normally declared and paid annually, but the fund may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended (the “Code”). To the extent that net realized capital gains can be offset by capital loss carryovers, it is the policy of the fund not to distribute such gains. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
(g) Federal income taxes: It is the policy of the fund to continue to qualify as a regulated investment company, if such qualification is in the best interests of its shareholders, by complying with the applicable provisions of the Code, and to make distributions of taxable income and net realized capital gain sufficient to relieve it from substantially all federal income and excise taxes.
As of and during the period ended April 30, 2026, the fund did not have any liabilities for any uncertain tax positions. The fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During the period ended April 30, 2026, the fund did not incur any interest or penalties.
24
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
Each tax year in the three-year period ended October 31, 2025 remains subject to examination by the Internal Revenue Service and state taxing authorities.
The tax character of distributions paid to shareholders during the fiscal year ended October 31, 2025 were as follows: ordinary income $15,612,057 and long-term capital gains $138,716,579. The tax character of current year distributions will be determined at the end of the current fiscal year.
(h) Operating segment reporting: In accordance with FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures (“ASU 2023-07”), the fund has operated and been managed as a single reportable segment, generating returns through dividends, interest, and/or gains from investments aligned with its single stated investment objective as outlined in the fund’s prospectus. The fund’s accounting policies are consistent with those described in these Notes to Financial Statements. The chief operating decision maker (“CODM”) is represented by BNY Investments and is comprised of Senior Management and Directors of BNY Investments. The CODM considers the net increase in net assets resulting from operations when deciding whether to purchase additional investments or make distributions to shareholders. Detailed financial information for the fund is presented in these financial statements, including total assets and liabilities in the Statement of Assets and Liabilities, investments held in the Schedule of Investments, results of operations and significant segment expenses in the Statement of Operations, and additional performance information—such as total return, portfolio turnover, and ratios—in the Financial Highlights.
NOTE 2—
Bank Lines of Credit:
The fund participates with other long-term open-end funds managed by the Adviser in a $738 million unsecured credit facility led by Citibank, N.A. (the “Citibank Credit Facility”) and a $300 million unsecured credit facility provided by BNY (the “BNY Credit Facility”), each to be utilized primarily for temporary or emergency purposes, including the financing of redemptions (each, a “Facility”). The Citibank Credit Facility is available in two tranches: (i) Tranche A is in an amount equal to $618 million and is available to all long-term open-ended funds, including the fund, and (ii) Tranche B is an amount equal to $120 million and is available only to BNY Mellon Floating Rate Income Fund, a series of BNY Mellon Investment Funds IV, Inc. In connection therewith, the fund has agreed to pay its pro rata portion of commitment fees for Tranche A of the Citibank Credit Facility and the BNY Credit Facility. Interest is charged to the fund based on rates determined pursuant to the terms of the respective Facility at the time of borrowing.
During the period ended April 30, 2026, the fund was charged $3,823 for interest expense. These fees are included in Interest expense in the Statement of Operations. The average amount of borrowings outstanding under the Citibank Credit Facility during the period ended April 30, 2026 was approximately $165,746 with a related weighted average annualized interest rate of 4.65%. As of April 30, 2026, the fund has no outstanding loan balance from either Facility.
NOTE 3—
Management Fee and Other Transactions with Affiliates:
(a) Pursuant to a management agreement with the Adviser, the management fee is computed at the annual rate of .25% of the value of the fund’s average daily net assets and is payable monthly. The Adviser has agreed in its management agreement with the fund to pay all of the fund’s expenses, except management fees, interest expenses, brokerage commissions, and commitment fees on borrowings, if any, fees pursuant to any distribution or shareholder services plan adopted by the fund, fees and expenses of the non-interested board members and their counsel and independent counsel to the fund, and any extraordinary expenses. The Adviser has further agreed to reduce its fees in an amount equal to the fund’s allocable portion of the fees and expenses of the non-interested board members and the fees and expenses of independent counsel to the fund and to the non-interested board members. These provisions in the management agreement may not be amended without the approval of the fund’s shareholders. During the period ended April 30, 2026, fees reimbursed by the Adviser amounted to $60,300.
(b) Under the shareholder services plan (the “Shareholder Services Plan”), Investor shares pay the Distributor at an annual rate of .25% of the value of their average daily net assets for the provision of certain services. The services provided may include personal services relating to shareholder accounts, such as answering shareholder inquiries regarding the fund, and services related to the maintenance of shareholder accounts. The Distributor may make payments to service agents (securities dealers, financial institutions or other industry professionals) with respect to these services. The Distributor determines the amounts to be paid to service agents. During the period ended April 30, 2026, Investor shares were charged $888,992 pursuant to the Shareholder Services Plan.
The fund has an arrangement with The Bank of New York Mellon (the “Custodian”), a subsidiary of BNY and an affiliate of the Adviser, whereby the fund will receive interest income or be charged overdraft fees when cash balances are maintained. For financial reporting purposes, the fund includes this interest income and overdraft fees, if any, as interest income in the Statement of Operations.
25
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
The components of “Due to BNY Mellon Investment Adviser, Inc. and affiliates” in the Statement of Assets and Liabilities consist of: management fee of $168,900, Shareholder Services Plan fees of $148,601, which are offset against an expense reimbursement currently in effect in the amount of $9,000.
(c) Each board member of the fund also serves as a board member of other funds in the BNY Mellon Family of Funds complex. Annual retainer fees and attendance fees are allocated to each fund based on net assets.
NOTE 4—
Securities Transactions:
The aggregate amount of purchases and sales of investment securities, excluding short-term securities and derivatives, during the period ended April 30, 2026, amounted to $235,059,998 and $360,114,152, respectively.
Derivatives: A derivative is a financial instrument whose performance is derived from the performance of another asset. Rule 18f-4 under the Act regulates the use of derivatives transactions for certain funds registered under the Act. Each type of derivative instrument that was held by the fund during the period ended April 30, 2026 is discussed below.
Deposits with Broker: The amount included in Cash collateral held by broker in the Statement of Asset and Liabilities represents cash balances that are held by a broker, including collateral required for derivative contracts. Any income earned on cash balances held by a broker is recorded as interest income to the fund.
Futures: In the normal course of pursuing its investment objective, the fund is exposed to market risk, including equity price risk, as a result of changes in value of underlying financial instruments. The fund invests in futures in order to manage its exposure to or protect against changes in the market. A futures contract represents a commitment for the future purchase or a sale of an asset at a specified date. Upon entering into such contracts, these investments require initial margin deposits with a counterparty, which consist of cash or cash equivalents. The amount of these deposits is determined by the exchange or Board of  Trade on which the contract is traded and is subject to change. Accordingly, variation margin payments are received or made to reflect daily unrealized gains or losses which are recorded in the Statement of Operations. When the contracts are closed, the fund recognizes a realized gain or loss which is reflected in the Statement of Operations. There is minimal counterparty credit risk to the fund with futures since they are exchange traded, and the exchange guarantees the futures against default. Futures open at April 30, 2026 are set forth in the fund’s Schedule of Investments.
The following tables show the  fund’s exposure to different types of market risk as it relates to the Statement of Assets and Liabilities and the Statement of Operations, respectively.
Fair value of derivative instruments as of April 30, 2026 is shown below: 
 
Derivative
Assets ($)
 
Derivative
Liabilities ($)
Equity Risk
678,375
(1)
Equity Risk
-
Gross fair value of derivative contracts
678,375
 
-
 
Statement of Assets and Liabilities location:
(1)
Includes cumulative appreciation (depreciation) on futures as reported in the Schedule of Investments, but only the unpaid variation margin is reported in the
Statement of Assets and Liabilities.
The effect of derivative instruments in the Statement of Operations during the period ended April 30, 2026 is shown below: 
Amount of realized gain (loss) on derivatives recognized in income ($)
Underlying risk
Futures(1)
Total
Equity
87,086
87,086
Total
87,086
87,086
26
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
 
Net change in unrealized appreciation (depreciation) on derivatives recognized in income ($)
Underlying risk
Futures(2)
Total
Equity
555,959
555,959
Total
555,959
555,959
 
Statement of Operations location:
(1)
Net realized gain (loss) on futures.
(2)
Net change in unrealized appreciation (depreciation) on futures.
The following table summarizes the monthly average market value of derivatives outstanding during the period ended April 30, 2026: 
 
Average Market Value ($)
Futures:
Equity Futures Long
4,760,431
At April 30, 2026, accumulated net unrealized appreciation on investments inclusive of derivative contracts was $281,237,768, consisting of $352,649,119 gross unrealized appreciation and $71,411,351 gross unrealized depreciation.
At April 30, 2026, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Schedule of Investments).
27
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies (Unaudited)
N/A
28
Item 9. Proxy Disclosures for Open-End Management Investment Companies (Unaudited)
N/A
29
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies (Unaudited)
Each board member also serves as a board member of other funds in the BNY Mellon Family of Funds complex, and annual retainer fees and meeting attendance fees are allocated to each fund based on net assets. The Adviser reimburses the fund for the fees and expenses of the non-interested board members. Compensation paid by the fund to the board members and board member fees reimbursed by the Adviser during the period are within Item 7. Statement of Operations as Directors’ and Directors’ fees reimbursed by BNY Mellon Investment Adviser, Inc., respectively.
30
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited)
At a meeting of the fund’s Board of Directors (the “Board”) held on March 5-6, 2026, the Board considered the renewal of the fund’s Management Agreement pursuant to which the Adviser provides the fund with investment advisory and administrative services (the “Agreement”). The Board members, none of whom are “interested persons” (as defined in the Investment Company Act of 1940, as amended) of the fund, were assisted in their review by independent legal counsel and met with counsel in executive session separate from representatives of the Adviser. In considering the renewal of the Agreement, the Board considered several factors that it believed to be relevant, including those discussed below. The Board did not identify any one factor as dispositive, and each Board member may have attributed different weights to the factors considered.
Analysis of Nature, Extent, and Quality of Services Provided to the Fund. The Board considered information provided to it at the meeting and in previous presentations from representatives of the Adviser regarding the nature, extent, and quality of the services provided to funds in the BNY fund complex, including the fund. The Adviser provided the number of open accounts in the fund, the fund’s asset size and the allocation of fund assets among distribution channels. The Adviser also had previously provided information regarding the diverse intermediary relationships and distribution channels of funds in the BNY fund complex (such as retail direct or intermediary, in which intermediaries typically are paid by the fund and/or the Adviser) and the Adviser’s corresponding need for broad, deep, and diverse resources to be able to provide ongoing shareholder services to each intermediary or distribution channel, as applicable to the fund.
The Board also considered research support available to, and portfolio management capabilities of, the fund’s portfolio management personnel and that the Adviser also provides oversight of day-to-day fund operations, including fund accounting and administration and assistance in meeting legal and regulatory requirements. The Board also considered the Adviser’s extensive administrative, accounting and compliance infrastructures.
Comparative Analysis of the Fund’s Performance and Management Fee and Expense Ratio. The Board reviewed reports prepared by Broadridge Financial Solutions, Inc. (“Broadridge”), an independent provider of investment company data based on classifications provided by Thomson Reuters Lipper (“Lipper”), which included information comparing (1) the performance of the fund’s Investor Class shares with the performance of a group of retail no-load small-cap core funds selected by Broadridge as comparable to the fund (the “Performance Group”) and with a broader group of funds consisting of all retail and institutional small-cap core funds (the “Performance Universe”), all for various periods ended December 31, 2025, and (2) the fund’s actual and contractual management fees and total expenses with those of the same group of funds in the Performance Group (the “Expense Group”) and with a broader group of funds consisting of retail no-load small-cap core funds, excluding outliers (the “Expense Universe”), the information for which was derived in part from fund financial statements available to Broadridge as of the date of its analysis. The Adviser previously had furnished the Board with a description of the methodology Broadridge used to select the Performance Group and Performance Universe and the Expense Group and Expense Universe.
Performance Comparisons. Representatives of the Adviser stated that the usefulness of performance comparisons may be affected by a number of factors, including different investment limitations and policies that may be applicable to the fund and comparison funds and the end date selected. The Board also considered the fund’s performance in light of overall financial market conditions. The Board discussed with representatives of the Adviser the results of the comparisons and considered that the fund’s total return performance was slightly below the Performance Group median for all periods under review, and was below the Performance Universe median for all periods, except for the ten-year period when the fund’s total return performance was slightly above the Performance Universe median. It was noted that there were only three other funds in the Performance Group and that the Performance Universe was not limited to index funds. The Adviser also provided a comparison of the fund’s calendar year total returns to the returns of the fund’s benchmark index.
Management Fee and Expense Ratio Comparisons. The Board reviewed and considered the contractual management fee rate payable by the fund to the Adviser in light of the nature, extent and quality of the management services provided by the Adviser. In addition, the Board reviewed and considered the actual management fee rate paid by the fund over the fund’s last fiscal year. The Board also reviewed the range of actual and contractual management fees and total expenses as a percentage of average net assets of the Expense Group and Expense Universe funds and discussed the results of the comparisons.
The Board noted that the Adviser pays all fund expenses, other than the actual management fee and certain other expenses. Because of the fund’s “unitary” fee structure, the Board recognized that the fund’s fees and expenses will vary within a much smaller range and the
31
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited) (continued)
Adviser will bear the risk that fund expenses may increase over time. On the other hand, the Board noted that it is possible that the Adviser could earn a profit on the fees charged under the Agreement and would benefit from any price decreases in third-party services covered by the Agreement. Taking into account the fund’s “unitary” fee structure, the Board considered that the fund’s contractual management fee was approximately equivalent to the Expense Group median contractual management fee, the fund’s actual management fee was approximately equivalent to the Expense Group median and higher than the Expense Universe median actual management fee, and the fund’s total expenses were approximately equivalent to the Expense Group median and higher than the Expense Universe median total expenses.
Representatives of the Adviser reviewed with the Board the management or investment advisory fees (1) paid by funds advised by the Adviser that are in the same Lipper category as the fund and (2) paid to the Adviser, or the primary employer of the fund’s primary portfolio managers that is affiliated with the Adviser, for advising the one separate account or other type of client portfolio that is considered to have similar investment strategies and policies as the fund (the “Similar Clients”), and explained the nature of the Similar Clients. They discussed differences in fees paid and the relationship of the fees paid in light of any differences in the services provided and other relevant factors, noting the fund’s “unitary” fee structure. The Board considered the relevance of the fee information provided for the Similar Clients to evaluate the appropriateness of the fund’s management fee.
Analysis of Profitability and Economies of Scale. Representatives of the Adviser reviewed the expenses allocated and profit received by the Adviser and its affiliates and the resulting profitability percentage for managing the fund and the aggregate profitability percentage to the Adviser and its affiliates for managing the funds in the BNY fund complex, and the method used to determine the expenses and profit. The Board concluded that the profitability results were not excessive, given the services rendered and service levels provided by the Adviser and its affiliates. The Board had been provided with information prepared by an independent consulting firm regarding the Adviser’s approach to allocating costs to, and determining the profitability of, individual funds and the entire BNY fund complex. The consulting firm also had analyzed where any economies of scale might emerge in connection with the management of a fund.
The Board considered, on the advice of its counsel, the profitability analysis (1) as part of its evaluation of whether the fee under the Agreement, considered in relation to the mix of services provided by the Adviser, including the nature, extent and quality of such services, supported the renewal of the Agreement and (2) in light of the relevant circumstances for the fund and the extent to which economies of scale would be realized if the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders. Representatives of the Adviser stated that, as a result of shared and allocated costs among funds in the BNY fund complex, the extent of economies of scale could depend substantially on the level of assets in the complex as a whole, so that increases and decreases in complex-wide assets can affect potential economies of scale in a manner that is disproportionate to, or even in the opposite direction from, changes in the fund’s asset level. The Board also considered potential benefits to the Adviser from acting as investment adviser and took into consideration that there were no soft dollar arrangements in effect for trading the fund’s investments.
At the conclusion of these discussions, the Board agreed that it had been furnished with sufficient information to make an informed business decision with respect to the renewal of the Agreement. Based on the discussions and considerations as described above, the Board concluded and determined as follows.
●The Board concluded that the nature, extent and quality of the services provided by the Adviser are satisfactory and appropriate.
●The Board was generally satisfied with the fund’s overall performance.
●The Board concluded that the fee paid to the Adviser continued to be appropriate under the circumstances and in light of the factors and the totality of the services provided as discussed above.
●The Board determined that the economies of scale which may accrue to the Adviser and its affiliates in connection with the management of the fund had been adequately considered by the Adviser in connection with the fee rate charged to the fund pursuant to the Agreement and that, to the extent in the future it were determined that material economies of scale had not been shared with the fund, the Board would seek to have those economies of scale shared with the fund.
In evaluating the Agreement, the Board considered these conclusions and determinations and also relied on its previous knowledge, gained through meetings and other interactions with the Adviser and its affiliates, of the Adviser and the services provided to the fund by the Adviser. The Board also relied on information received on a routine and regular basis throughout the year relating to the operations of the fund and the investment management and other services provided under the Agreement, including information on the
32
investment performance of the fund in comparison to similar mutual funds and benchmark performance indices; general market outlook as applicable to the fund; and compliance reports. In addition, the Board’s consideration of the contractual fee arrangements for the fund had the benefit of a number of years of reviews of the Agreement for the fund, or substantially similar agreements for other BNY funds that the Board oversees, during which lengthy discussions took place between the Board and representatives of the Adviser. Certain aspects of the arrangements may receive greater scrutiny in some years than in others, and the Board’s conclusions may be based, in part, on its consideration of the fund’s arrangements, or substantially similar arrangements for other BNY funds that the Board oversees, in prior years. The Board determined to renew the Agreement.
33
© 2026 BNY Mellon Securities Corporation
Code-0077NCSRSA0426 
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 13. Portfolio Managers for Closed-End Management Investment Companies.

 

Not applicable.

 

Item 14. Purchases of Equity Securities By Closed-End Management Investment Companies and Affiliated Purchasers.

 

Not applicable.

 

Item 15. Submission of Matters to a Vote of Security Holders.

 

There have been no materials changes to the procedures applicable to Item 15.

 

Item 16. Controls and Procedures.

 

(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-CSR is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.
(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

 

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

 

Not applicable.

 

Item 18. Recovery of Erroneously Awarded Compensation.

 

Not applicable.

 

Item 19. Exhibits.

 

 

(a)(1) Not applicable.

(a)(2) Not applicable.

 
 

 

 

(a)(3) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.

(a)(4) Not applicable.

(a)(5) Not applicable.

(b)       Certification of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940.

 

 
 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

BNY Mellon Index Funds, Inc.

By: /s/ David J. DiPetrillo

David J. DiPetrillo

President (Principal Executive Officer)

 

Date: June 22, 2026

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

By: /s/ David J. DiPetrillo

David J. DiPetrillo

President (Principal Executive Officer)

 

Date: June 22, 2026

 

 

By: /s/ James Windels

James Windels

Treasurer (Principal Financial Officer)

 

Date: June 22, 2026

 

 

 

 
 

EXHIBIT INDEX

(a)(3) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)

(b)       Certification of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940. (EX-99.906CERT)

ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

CERTIFICATION REQUIRED BY RULE 30A-2

CERTIFICATION REQUIRED BY SECTION 906

TAXONOMY

IDEA: R1.htm

IDEA: R2.htm

IDEA: R3.htm

IDEA: FilingSummary.xml

IDEA: MetaLinks.json

IDEA: output_htm.xml