# EDGAR Filing Document

**Accession Number:** 0001111565
**File Stem:** 0000030146-25-000099
**Filing Date:** 2025-10
**Character Count:** 1222537
**Document Hash:** 5521f826692fa89bf0b48764c585d41d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000030146-25-000099.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0000030146-25-000099

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 112

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251029

**EFFECTIVENESS DATE**: 20251029

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BNY MELLON FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001111565

**ORGANIZATION NAME:**
- **EIN:** 134121547

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09903
- **FILM NUMBER:** 251429156

**BUSINESS ADDRESS:**
- **STREET 1:** C/O BNY MELLON INVESTMENT ADVISER, INC.
- **STREET 2:** 240 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10286
- **BUSINESS PHONE:** 2129226400

**MAIL ADDRESS:**
- **STREET 1:** C/O BNY MELLON INVESTMENT ADVISER, INC.
- **STREET 2:** 240 GREENWICH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10286

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MELLON FUNDS TRUST
- **DATE OF NAME CHANGE:** 20030429

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MPAM FUNDS TRUST
- **DATE OF NAME CHANGE:** 20000410

## Series and Classes Contracts Data

### BNY Mellon Massachusetts Intermediate Municipal Bond Fund (Series ID: S000000362)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000000938 | Class M Shares  | MMBMX           |
| C000000939 | Investor Shares | MMBIX           |

### BNY Mellon National Intermediate Municipal Bond Fund (Series ID: S000000364)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000000943 | Class M Shares  | MPNIX           |
| C000000944 | Investor Shares | MINMX           |

### BNY Mellon National Short-Term Municipal Bond Fund (Series ID: S000000366)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000000948 | Class M Shares  | MPSTX           |
| C000000949 | Investor Shares | MINSX           |

### BNY Mellon Income Stock Fund (Series ID: S000000369)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000000954 | Class M Shares  | MPISX           |
| C000000955 | Investor Shares | MIISX           |
| C000170066 | Class Y         | BMIYX           |
| C000170067 | Class A         | BMIAX           |
| C000170068 | Class C         | BMISX           |
| C000170069 | Class I         | BMIIX           |

### BNY Mellon Mid Cap Multi-Strategy Fund (Series ID: S000000370)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000000956 | Class M Shares  | MPMCX           |
| C000000957 | Investor Shares | MIMSX           |

### BNY Mellon Small Cap Multi-Strategy Fund (Series ID: S000000371)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000000959 | Class M Shares  | MPSSX           |
| C000000960 | Investor Shares | MISCX           |

### BNY Mellon International Fund (Series ID: S000000372)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000000961 | Class M Shares  | MPITX           |
| C000000962 | Investor Shares | MIINX           |

### BNY Mellon Emerging Markets Fund (Series ID: S000000373)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000000963 | Class M Shares  | MEMKX           |
| C000000964 | Investor Shares | MIEGX           |

### BNY Mellon Asset Allocation Fund (Series ID: S000000374)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000000965 | Class M Shares  | MPBLX           |
| C000000966 | Investor Shares | MIBLX           |

### BNY Mellon Bond Fund (Series ID: S000000375)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000000967 | Class M Shares  | MPBFX           |
| C000000968 | Investor Shares | MIBDX           |

### BNY Mellon Intermediate Bond Fund (Series ID: S000000376)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000000969 | Class M Shares  | MPIBX           |
| C000000970 | Investor Shares | MIIDX           |

### BNY Mellon Municipal Opportunities Fund (Series ID: S000023621)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000069513 | Class M      | MOTMX           |
| C000069514 | Investor     | MOTIX           |

### BNY Mellon Corporate Bond Fund (Series ID: S000035959)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000110247 | Class M Shares  | BYMMX           |
| C000110248 | Investor Shares | BYMIX           |

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#### 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

#### 811-09903

#### BNY Mellon Funds Trust
(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:
&nbsp;&nbsp;&nbsp;&nbsp;(212) 922-6400

#### Date of fiscal year end:

#### 8/31

#### Date of reporting period:

#### 8/31/25
ITEM 1 - Reports to Stockholders

BNY Mellon Asset Allocation Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MPBLX
This annual shareholder report contains important information about BNY Mellon Asset Allocation Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M<sup>\*</sup> | $53 | 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 11.40%.

* In comparison, the Morningstar Moderate Target Risk Index (the "Index") returned 10.39% for the same period.

**What affected the Fund's performance?**

* Global equities advanced on improving earnings, resilient economic growth, lower inflation and global easing. Global bonds gained from lower inflation, policy easing, tighter spreads and higher yields.

* The Fund's strongest contributors were equities, particularly U.S. large-cap and international ex-REITs. Large-cap gains came from tax-managed equity, while international equity benefited from manager selection.

* Driven by core fixed income, overall fixed income detracted from relative performance as returns lagged the Index. Within equities, small- and-mid-cap strategies detracted. High yield detracted modestly.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585100.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in each of the S&P 500<sup>®</sup> Index (a broad-based index), Bloomberg U.S. Aggregate Bond Index (a broad-based index) and Morningstar Moderate Target Risk Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 11.40% | 8.67% | 8.37% |
| S&P 500<sup>®</sup> Index (broad-based index) | 15.87% | 14.74% | 14.59% |
| Bloomberg U.S. Aggregate Bond Index (broad-based index) | 3.14% | -0.68% | 1.80% |
| Morningstar Moderate Target Risk Index | 10.39% | 6.79% | 7.44% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.** 

**KEY FUND STATISTICS (AS OF 8/31/25)**

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| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $452 | 525 | $1565113 | 27.04% |

---

**Portfolio Holdings (as of 8/31/25)**

**Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10585129.jpg)

**Allocation of Holdings (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10585105.jpg)

\* Amount represents less than .1%.

**How has the Fund changed?**

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0967AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Asset Allocation Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MIBLX
This annual shareholder report contains important information about BNY Mellon Asset Allocation Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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<sup>\*</sup> | $79 | 0.75% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 11.12%.

* In comparison, the Morningstar Moderate Target Risk Index (the "Index") returned 10.39% for the same period.

**What affected the Fund's performance?**

* Global equities advanced on improving earnings, resilient economic growth, lower inflation and global easing. Global bonds gained from lower inflation, policy easing, tighter spreads and higher yields.

* The Fund's strongest contributors were equities, particularly U.S. large-cap and international ex-REITs. Large-cap gains came from tax-managed equity, while international equity benefited from manager selection.

* Driven by core fixed income, overall fixed income detracted from relative performance as returns lagged the Index. Within equities, small- and-mid-cap strategies detracted. High yield detracted modestly.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585150.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in each of the S&P 500<sup>®</sup> Index (a broad-based index), Bloomberg U.S. Aggregate Bond Index (a broad-based index) and Morningstar Moderate Target Risk Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 11.12% | 8.40% | 8.12% |
| S&P 500<sup>®</sup> Index (broad-based index) | 15.87% | 14.74% | 14.59% |
| Bloomberg U.S. Aggregate Bond Index (broad-based index) | 3.14% | -0.68% | 1.80% |
| Morningstar Moderate Target Risk Index | 10.39% | 6.79% | 7.44% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.** 

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $452 | 525 | $1565113 | 27.04% |

---

**Portfolio Holdings (as of 8/31/25)**

**Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10585179.jpg)

**Allocation of Holdings (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10585155.jpg)

\* Amount represents less than .1%.

**How has the Fund changed?**

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0974AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MPBFX
This annual shareholder report contains important information about BNY Mellon Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M | $59 | 0.58% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 2.95%. 

* In comparison, the Bloomberg U.S. Aggregate Bond Index (the "Index") returned 3.14% for the same period. 

 **What affected the Fund's performance?**

* Bond prices fell and the yield curve steepened after a surprise 0.50% September 2024 rate cut. In 2025, bonds rose and the curve steepened on easing expectations. 

* The Fund's performance benefited from its long duration relative to the Index in early 2025 and its overweight in non-Treasury sectors, especially corporate bonds including BBB-rated holdings. 

* The Fund's long duration position detracted from relative performance late in 2024, during a period when bond prices consistently fell. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585200.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in the Bloomberg U.S. Aggregate Bond Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 2.95% | -0.74% | 1.76% |
| Bloomberg U.S. Aggregate Bond Index | 3.14% | -0.68% | 1.80% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $1262 | 172 | $5125798 | 58.24% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10585229.jpg)

 **Allocation of Holdings (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10585205.jpg)

 **How has the Fund changed?**

* Effective October 1, 2025, the Adviser has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025. 

 **This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0961AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MIBDX
This annual shareholder report contains important information about BNY Mellon Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 | $84 | 0.83% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 2.71%. 

* In comparison, the Bloomberg U.S. Aggregate Bond Index (the "Index") returned 3.14% for the same period. 

 **What affected the Fund's performance?**

* Bond prices fell and the yield curve steepened after a surprise 0.50% September 2024 rate cut. In 2025, bonds rose and the curve steepened on easing expectations. 

* The Fund's performance benefited from its long duration relative to the Index in early 2025 and its overweight in non-Treasury sectors, especially corporate bonds including BBB-rated holdings. 

* The Fund's long duration position detracted from relative performance late in 2024, during a period when bond prices consistently fell. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585250.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in the Bloomberg U.S. Aggregate Bond Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 2.71% | -0.98% | 1.50% |
| Bloomberg U.S. Aggregate Bond Index | 3.14% | -0.68% | 1.80% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $1262 | 172 | $5125798 | 58.24% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10585279.jpg)

 **Allocation of Holdings (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10585255.jpg)

 **How has the Fund changed?**

* Effective October 1, 2025, the Adviser has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025. 

 **This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0968AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Corporate Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – BYMMX
This annual shareholder report contains important information about BNY Mellon Corporate Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M | $62 | 0.60% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 5.51%.

* In comparison, the Bloomberg U.S. Intermediate Credit Index (the "Index") returned 5.57% for the same period.

**What affected the Fund's performance?**

* Corporate bonds outperformed Treasuries, with the Index returning 5.57% versus 4.25% for intermediate Treasuries, supported by extra carry and modest spread tightening.

* The Fund's BBB and high-yield exposures supported relative performance, as bonds rated BBB and high yield outperformed those rated A and AA.

* Fund performance also benefited from strong returns in select issuers and sectors, including BB-rated PEMEX (+10%), brokerage (+7.47%), transportation including Ford EETCs (+7.22%) and banking (+7.18%).

* Longer (20–30 year) holdings, about 5.5% of the Fund, detracted from performance as 20+ year Treasuries declined, overwhelming stronger excess returns versus intermediate maturities.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586800.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in each of the Bloomberg U.S. Aggregate Bond Index (a broad-based index) and Bloomberg U.S. Intermediate Credit Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 5.51% | 2.00% | 3.72% |
| Bloomberg U.S. Aggregate Bond Index (broad-based index) | 3.14% | -0.68% | 1.80% |
| Bloomberg U.S. Intermediate Credit Index | 5.57% | 1.43% | 2.94% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $415 | 150 | $1620360 | 14.14% |

---

**Portfolio Holdings (as of 8/31/25)**

**Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10586829.jpg)

**Allocation of Holdings (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10586805.jpg)

#### How has the Fund changed?
* The Board of Trustees of BNY Mellon Funds Trust (the "Trust") has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Corporate Bond Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Core Plus ETF (the "Acquiring ETF"). If approved by Fund shareholders, the Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, if the reorganization is approved by Fund shareholders, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities. If shareholders approve the Reorganizations, each Fund is expected to be converted from a mutual fund to an ETF on or about January 9, 2026. For more information, please refer to prospectus/proxy statement filed September 17, 2025.

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-6311AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Corporate Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – BYMIX
This annual shareholder report contains important information about BNY Mellon Corporate Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 | $87 | 0.85% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 5.27%.

* In comparison, the Bloomberg U.S. Intermediate Credit Index (the "Index") returned 5.57% for the same period.

**What affected the Fund's performance?**

* Corporate bonds outperformed Treasuries, with the Index returning 5.57% versus 4.25% for intermediate Treasuries, supported by extra carry and modest spread tightening.

* The Fund's BBB and high-yield exposures supported relative performance, as bonds rated BBB and high yield outperformed those rated A and AA.

* Fund performance also benefited from strong returns in select issuers and sectors, including BB-rated PEMEX (+10%), brokerage (+7.47%), transportation including Ford EETCs (+7.22%) and banking (+7.18%).

* Longer (20–30 year) holdings, about 5.5% of the Fund, detracted from performance as 20+ year Treasuries declined, overwhelming stronger excess returns versus intermediate maturities.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586850.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in each of the Bloomberg U.S. Aggregate Bond Index (a broad-based index) and Bloomberg U.S. Intermediate Credit Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 5.27% | 1.75% | 3.47% |
| Bloomberg U.S. Aggregate Bond Index (broad-based index) | 3.14% | -0.68% | 1.80% |
| Bloomberg U.S. Intermediate Credit Index | 5.57% | 1.43% | 2.94% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $415 | 150 | $1620360 | 14.14% |

---

**Portfolio Holdings (as of 8/31/25)**

**Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10586879.jpg)

**Allocation of Holdings (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10586855.jpg)

#### How has the Fund changed?
* The Board of Trustees of BNY Mellon Funds Trust (the "Trust") has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Corporate Bond Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Core Plus ETF (the "Acquiring ETF"). If approved by Fund shareholders, the Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, if the reorganization is approved by Fund shareholders, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities. If shareholders approve the Reorganizations, each Fund is expected to be converted from a mutual fund to an ETF on or about January 9, 2026. For more information, please refer to prospectus/proxy statement filed September 17, 2025.

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-6312AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Emerging Markets Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MEMKX
This annual shareholder report contains important information about BNY Mellon Emerging Markets Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M<sup>\*</sup> | $131 | 1.24% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 11.36%. 

* In comparison, the MSCI Emerging Markets Index (the "Index") returned 16.80% for the same period. 

 **What affected the Fund's performance?**

* Emerging-markets equities gained during the reporting period due to a weaker U.S. dollar, easing inflation and a rebound in China, coupled with attractive valuations. 

* Relative to the Index, the Fund benefited from underweight exposure to utilities and real estate, as well as strong stock selection in communications. 

* The most significant detractors from relative performance included underweight exposure to China and weak stock selection, particularly in the information technology sector. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585300.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in the MSCI Emerging Markets Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 11.36% | 4.02% | 6.12% |
| MSCI Emerging Markets Index | 16.80% | 5.21% | 6.92% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $170 | 75 | $1684518 | 56.48% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10585329.jpg)

\* 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](chartimages_10585305.jpg)

 **For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0960AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Emerging Markets Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MIEGX
This annual shareholder report contains important information about BNY Mellon Emerging Markets Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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<sup>\*</sup> | $157 | 1.49% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 11.00%. 

* In comparison, the MSCI Emerging Markets Index (the "Index") returned 16.80% for the same period. 

 **What affected the Fund's performance?**

* Emerging-markets equities gained during the reporting period due to a weaker U.S. dollar, easing inflation and a rebound in China, coupled with attractive valuations. 

* Relative to the Index, the Fund benefited from underweight exposure to utilities and real estate, as well as strong stock selection in communications. 

* The most significant detractors from relative performance included underweight exposure to China and weak stock selection, particularly in the information technology sector. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585350.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in the MSCI Emerging Markets Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 11.00% | 3.77% | 5.86% |
| MSCI Emerging Markets Index | 16.80% | 5.21% | 6.92% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $170 | 75 | $1684518 | 56.48% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10585379.jpg)

\* 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](chartimages_10585355.jpg)

 **For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0908AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Income Stock Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MPISX
This annual shareholder report contains important information about BNY Mellon Income Stock Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M<sup>\*</sup> | $104 | 0.98% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 13.25%.

* In comparison, the Dow Jones U.S. Select Dividend™ Index (the "Index") returned 10.42% for the same period.

**What affected the Fund's performance?**

* U.S. value and higher dividend-yielding stocks generally rose as the economy stayed resilient in the face of higher tariffs.

* Strong stock selection in the consumer discretionary, materials and industrial sectors bolstered the Fund's performance relative to the Index.

* In addition, a few areas that benefited from the 2025 federal tax and spending package, including domestic materials companies, power producers and cash tax beneficiaries, contributed positively to performance.

* Stock selection in the managed care industry within the health care sector weighed on the Fund's relative performance, as did stock selection within the real estate sector.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585650.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in each of the Russell 1000<sup>®</sup> Index (a broad-based index) and Dow Jones U.S. Select Dividend™ Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 13.25% | 17.85% | 12.12% |
| Russell 1000<sup>®</sup> Index (broad-based index) | 16.24% | 14.34% | 14.33% |
| Dow Jones U.S. Select Dividend™ Index | 10.42% | 15.46% | 11.11% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.** 

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $171 | 61 | $1178565 | 78.49% |

---

**Portfolio Holdings (as of 8/31/25)**

**Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10585679.jpg)

\* 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](chartimages_10585655.jpg)

#### How has the Fund changed?
* The Board of Trustees and shareholders of BNY Mellon Funds Trust (the "Trust") have approved an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Income Stock Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Enhanced Dividend and Income ETF (the "Acquiring ETF"). The Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities (the "Reorganization"). The Reorganization will be consummated on or about the close of business on December 5, 2025 (the "Closing Date"). For more information, please refer to prospectus/proxy statement filed June 11, 2025.

* Approximately two weeks prior to Closing Date, the BNY Mellon Income Stock Fund's Class A, Class C, Class I, Class Y, and Investor shares of the fund will be converted into Class M shares of the Fund (without a CDSC or other charge). The share class conversion is expected to occur approximately two weeks before the Closing Date. The Fund's exchange privilege (exchanges into and out of the fund with other series of the Trust) will be terminated on or about November 21, 2025. In addition, approximately two weeks before the Reorganization, the Fund may, if deemed advisable by BNY Mellon Investment Adviser, Inc., effect a share split (either forward or reverse) to approximate the net asset value per share of the Acquiring ETF. After such share split (if any), any fractional shares held by shareholders will be redeemed approximately two business days before the Closing Date.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on June 11, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0956AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Income Stock Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MIISX
This annual shareholder report contains important information about BNY Mellon Income Stock Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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<sup>\*</sup> | $131 | 1.23% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 12.98%.

* In comparison, the Dow Jones U.S. Select Dividend™ Index (the "Index") returned 10.42% for the same period.

**What affected the Fund's performance?**

* U.S. value and higher dividend-yielding stocks generally rose as the economy stayed resilient in the face of higher tariffs.

* Strong stock selection in the consumer discretionary, materials and industrial sectors bolstered the Fund's performance relative to the Index.

* In addition, a few areas that benefited from the 2025 federal tax and spending package, including domestic materials companies, power producers and cash tax beneficiaries, contributed positively to performance.

* Stock selection in the managed care industry within the health care sector weighed on the Fund's relative performance, as did stock selection within the real estate sector.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585750.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in each of the Russell 1000<sup>®</sup> Index (a broad-based index) and Dow Jones U.S. Select Dividend™ Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 12.98% | 17.59% | 11.86% |
| Russell 1000<sup>®</sup> Index (broad-based index) | 16.24% | 14.34% | 14.33% |
| Dow Jones U.S. Select Dividend™ Index | 10.42% | 15.46% | 11.11% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.** 

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $171 | 61 | $1178565 | 78.49% |

---

**Portfolio Holdings (as of 8/31/25)**

**Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10585779.jpg)

\* 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](chartimages_10585755.jpg)

#### How has the Fund changed?
* The Board of Trustees and shareholders of BNY Mellon Funds Trust (the "Trust") have approved an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Income Stock Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Enhanced Dividend and Income ETF (the "Acquiring ETF"). The Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities (the "Reorganization"). The Reorganization will be consummated on or about the close of business on December 5, 2025 (the "Closing Date"). For more information, please refer to prospectus/proxy statement filed June 11, 2025.

* Approximately two weeks prior to Closing Date, the BNY Mellon Income Stock Fund's Class A, Class C, Class I, Class Y, and Investor shares of the fund will be converted into Class M shares of the Fund (without a CDSC or other charge). The share class conversion is expected to occur approximately two weeks before the Closing Date. The Fund's exchange privilege (exchanges into and out of the fund with other series of the Trust) will be terminated on or about November 21, 2025. In addition, approximately two weeks before the Reorganization, the Fund may, if deemed advisable by BNY Mellon Investment Adviser, Inc., effect a share split (either forward or reverse) to approximate the net asset value per share of the Acquiring ETF. After such share split (if any), any fractional shares held by shareholders will be redeemed approximately two business days before the Closing Date.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on June 11, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0904AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Income Stock Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class A – BMIAX
This annual shareholder report contains important information about BNY Mellon Income Stock Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. 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 year ?
(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 A<sup>\*</sup> | $132 | 1.24% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class A shares returned 12.79%. 

* In comparison, the Dow Jones U.S. Select Dividend™ Index (the "Index") returned 10.42% for the same period. 

 **What affected the Fund's performance?**

* U.S. value and higher dividend-yielding stocks generally rose as the economy stayed resilient in the face of higher tariffs. 

* Strong stock selection in the consumer discretionary, materials and industrial sectors bolstered the Fund's performance relative to the Index. 

* In addition, a few areas that benefited from the 2025 federal tax and spending package, including domestic materials companies, power producers and cash tax beneficiaries, contributed positively to performance. 

* Stock selection in the managed care industry within the health care sector weighed on the Fund's relative performance, as did stock selection within the real estate sector. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585500.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class A shares to a hypothetical investment of $10,000 made in each of the Russell 1000<sup>®</sup> Index (a broad-based index) and Dow Jones U.S. Select Dividend™ Index on 8/31/2015. The performance shown takes into account the maximum initial sales charge on Class A shares and applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Class A Shares** | **1YR** | **5YR** | **10YR** |
| with Maximum Sales Charge - 5.75% | 6.32% | 16.12% | 11.17% |
| without Sales Charge | 12.79% | 17.51% | 11.83% |
| Russell 1000<sup>®</sup> Index (broad-based index) | 16.24% | 14.34% | 14.33% |
| Dow Jones U.S. Select Dividend™ Index | 10.42% | 15.46% | 11.11% |

---

Periods prior to the inception date of the Fund's Class A shares (5/31/2016) reflect the performance of the Fund's Class M shares. Such performance figures have not been adjusted to reflect applicable class fees and expenses of Class A shares.

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/literaturecenter.

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $171 | 61 | $1178565 | 78.49% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10585529.jpg)

\* 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](chartimages_10585505.jpg)

#### How has the Fund changed?
* The Board of Trustees and shareholders of BNY Mellon Funds Trust (the "Trust") have approved an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Income Stock Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Enhanced Dividend and Income ETF (the "Acquiring ETF"). The Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities (the "Reorganization"). The Reorganization will be consummated on or about the close of business on December 5, 2025 (the "Closing Date"). For more information, please refer to prospectus/proxy statement filed June 11, 2025. 

* Approximately two weeks prior to Closing Date, the BNY Mellon Income Stock Fund's Class A, Class C, Class I, Class Y, and Investor shares of the fund will be converted into Class M shares of the Fund (without a CDSC or other charge). The share class conversion is expected to occur approximately two weeks before the Closing Date. The Fund's exchange privilege (exchanges into and out of the fund with other series of the Trust) will be terminated on or about November 21, 2025. In addition, approximately two weeks before the Reorganization, the Fund may, if deemed advisable by BNY Mellon Investment Adviser, Inc., effect a share split (either forward or reverse) to approximate the net asset value per share of the Acquiring ETF. After such share split (if any), any fractional shares held by shareholders will be redeemed approximately two business days before the Closing Date. 

 **This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on June 11, 2025 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**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-4029AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Income Stock Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class C – BMISX
This annual shareholder report contains important information about BNY Mellon Income Stock Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. 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 year ?
(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 C<sup>\*</sup> | $211 | 1.99% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class C shares returned 11.94%. 

* In comparison, the Dow Jones U.S. Select Dividend™ Index (the "Index") returned 10.42% for the same period. 

 **What affected the Fund's performance?**

* U.S. value and higher dividend-yielding stocks generally rose as the economy stayed resilient in the face of higher tariffs. 

* Strong stock selection in the consumer discretionary, materials and industrial sectors bolstered the Fund's performance relative to the Index. 

* In addition, a few areas that benefited from the 2025 federal tax and spending package, including domestic materials companies, power producers and cash tax beneficiaries, contributed positively to performance. 

* Stock selection in the managed care industry within the health care sector weighed on the Fund's relative performance, as did stock selection within the real estate sector. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585550.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class C shares to a hypothetical investment of $10,000 made in each of the Russell 1000<sup>®</sup> Index (a broad-based index) and Dow Jones U.S. Select Dividend™ Index on 8/31/2015. The performance shown takes into account the maximum deferred sales charge on Class C shares and applicable fees and expenses of the Fund, including management fees, 12b-1 fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Class C Shares** | **1YR** | **5YR** | **10YR** |
| with Maximum Deferred Sales Charge - 1.00% | 11.02% <sup>\*</sup> | 16.62% | 11.03% |
| without Deferred Sales Charge | 11.94% | 16.62% | 11.03% |
| Russell 1000<sup>®</sup> Index (broad-based index) | 16.24% | 14.34% | 14.33% |
| Dow Jones U.S. Select Dividend™ Index | 10.42% | 15.46% | 11.11% |

---

<sup>\*</sup> The maximum contingent deferred sales charge for Class C shares is 1.00% for shares redeemed within one year of the date purchased.

Periods prior to the inception date of the Fund's Class C shares (5/31/2016) reflect the performance of the Fund's Class M shares. Such performance figures have not been adjusted to reflect applicable class fees and expenses of Class C shares.

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/literaturecenter.

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $171 | 61 | $1178565 | 78.49% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10585579.jpg)

\* 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](chartimages_10585555.jpg)

#### How has the Fund changed?
* The Board of Trustees and shareholders of BNY Mellon Funds Trust (the "Trust") have approved an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Income Stock Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Enhanced Dividend and Income ETF (the "Acquiring ETF"). The Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities (the "Reorganization"). The Reorganization will be consummated on or about the close of business on December 5, 2025 (the "Closing Date"). For more information, please refer to prospectus/proxy statement filed June 11, 2025. 

* Approximately two weeks prior to Closing Date, the BNY Mellon Income Stock Fund's Class A, Class C, Class I, Class Y, and Investor shares of the fund will be converted into Class M shares of the Fund (without a CDSC or other charge). The share class conversion is expected to occur approximately two weeks before the Closing Date. The Fund's exchange privilege (exchanges into and out of the fund with other series of the Trust) will be terminated on or about November 21, 2025. In addition, approximately two weeks before the Reorganization, the Fund may, if deemed advisable by BNY Mellon Investment Adviser, Inc., effect a share split (either forward or reverse) to approximate the net asset value per share of the Acquiring ETF. After such share split (if any), any fractional shares held by shareholders will be redeemed approximately two business days before the Closing Date. 

 **This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on June 11, 2025 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**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-4030AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Income Stock Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class I – BMIIX
This annual shareholder report contains important information about BNY Mellon Income Stock Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. 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 year ?
(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<sup>\*</sup> | $104 | 0.98% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class I shares returned 13.11%.

* In comparison, the Dow Jones U.S. Select Dividend™ Index (the "Index") returned 10.42% for the same period.

**What affected the Fund's performance?**

* U.S. value and higher dividend-yielding stocks generally rose as the economy stayed resilient in the face of higher tariffs.

* Strong stock selection in the consumer discretionary, materials and industrial sectors bolstered the Fund's performance relative to the Index.

* In addition, a few areas that benefited from the 2025 federal tax and spending package, including domestic materials companies, power producers and cash tax beneficiaries, contributed positively to performance.

* Stock selection in the managed care industry within the health care sector weighed on the Fund's relative performance, as did stock selection within the real estate sector.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585600.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class I shares to a hypothetical investment of $10,000 made in each of the Russell 1000<sup>®</sup> Index (a broad-based index) and Dow Jones U.S. Select Dividend™ Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class I | 13.11% | 17.80% | 12.09% |
| Russell 1000<sup>®</sup> Index (broad-based index) | 16.24% | 14.34% | 14.33% |
| Dow Jones U.S. Select Dividend™ Index | 10.42% | 15.46% | 11.11% |

---

Periods prior to the inception date of the Fund's Class I shares (5/31/2016) reflect the performance of the Fund's Class M shares. Such performance figures have not been adjusted to reflect applicable class fees and expenses of Class I shares.

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/literaturecenter.

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $171 | 61 | $1178565 | 78.49% |

---

**Portfolio Holdings (as of 8/31/25)**

**Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10585629.jpg)

\* 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](chartimages_10585605.jpg)

#### How has the Fund changed?
* The Board of Trustees and shareholders of BNY Mellon Funds Trust (the "Trust") have approved an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Income Stock Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Enhanced Dividend and Income ETF (the "Acquiring ETF"). The Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities (the "Reorganization"). The Reorganization will be consummated on or about the close of business on December 5, 2025 (the "Closing Date"). For more information, please refer to prospectus/proxy statement filed June 11, 2025.

* Approximately two weeks prior to Closing Date, the BNY Mellon Income Stock Fund's Class A, Class C, Class I, Class Y, and Investor shares of the fund will be converted into Class M shares of the Fund (without a CDSC or other charge). The share class conversion is expected to occur approximately two weeks before the Closing Date. The Fund's exchange privilege (exchanges into and out of the fund with other series of the Trust) will be terminated on or about November 21, 2025. In addition, approximately two weeks before the Reorganization, the Fund may, if deemed advisable by BNY Mellon Investment Adviser, Inc., effect a share split (either forward or reverse) to approximate the net asset value per share of the Acquiring ETF. After such share split (if any), any fractional shares held by shareholders will be redeemed approximately two business days before the Closing Date.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on June 11, 2025 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**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-4031AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Income Stock Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class Y – BMIYX
This annual shareholder report contains important information about BNY Mellon Income Stock Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. 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 year ?
(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 Y<sup>\*</sup> | $110 | 1.03% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class Y shares returned 13.15%.

* In comparison, the Dow Jones U.S. Select Dividend™ Index (the "Index") returned 10.42% for the same period.

**What affected the Fund's performance?**

* U.S. value and higher dividend-yielding stocks generally rose as the economy stayed resilient in the face of higher tariffs.

* Strong stock selection in the consumer discretionary, materials and industrial sectors bolstered the Fund's performance relative to the Index.

* In addition, a few areas that benefited from the 2025 federal tax and spending package, including domestic materials companies, power producers and cash tax beneficiaries, contributed positively to performance.

* Stock selection in the managed care industry within the health care sector weighed on the Fund's relative performance, as did stock selection within the real estate sector.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $1,000,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585700.jpg)

The above graph compares a hypothetical $1,000,000 investment in the Fund's Class Y shares to a hypothetical investment of $1,000,000 made in each of the Russell 1000<sup>®</sup> Index (a broad-based index) and Dow Jones U.S. Select Dividend™ Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class Y | 13.15% | 17.85% | 12.11% |
| Russell 1000<sup>®</sup> Index (broad-based index) | 16.24% | 14.34% | 14.33% |
| Dow Jones U.S. Select Dividend™ Index | 10.42% | 15.46% | 11.11% |

---

Periods prior to the inception date of the Fund's Class Y shares (5/31/2016) reflect the performance of the Fund's Class M shares. Such performance figures have not been adjusted to reflect applicable class fees and expenses of Class Y shares.

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/literaturecenter.

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $171 | 61 | $1178565 | 78.49% |

---

**Portfolio Holdings (as of 8/31/25)**

**Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10585729.jpg)

\* 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](chartimages_10585705.jpg)

#### How has the Fund changed?
* The Board of Trustees and shareholders of BNY Mellon Funds Trust (the "Trust") have approved an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Income Stock Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Enhanced Dividend and Income ETF (the "Acquiring ETF"). The Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities (the "Reorganization"). The Reorganization will be consummated on or about the close of business on December 5, 2025 (the "Closing Date"). For more information, please refer to prospectus/proxy statement filed June 11, 2025.

* Approximately two weeks prior to Closing Date, the BNY Mellon Income Stock Fund's Class A, Class C, Class I, Class Y, and Investor shares of the fund will be converted into Class M shares of the Fund (without a CDSC or other charge). The share class conversion is expected to occur approximately two weeks before the Closing Date. The Fund's exchange privilege (exchanges into and out of the fund with other series of the Trust) will be terminated on or about November 21, 2025. In addition, approximately two weeks before the Reorganization, the Fund may, if deemed advisable by BNY Mellon Investment Adviser, Inc., effect a share split (either forward or reverse) to approximate the net asset value per share of the Acquiring ETF. After such share split (if any), any fractional shares held by shareholders will be redeemed approximately two business days before the Closing Date.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on June 11, 2025 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**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0019AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Intermediate Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MPIBX
This annual shareholder report contains important information about BNY Mellon Intermediate Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M | $61 | 0.60% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 4.22%. 

* In comparison, the Bloomberg U.S. Intermediate Government/Credit Index (the "Index") returned 4.70% for the same period. 

 **What affected the Fund's performance?**

* Intermediate bonds declined in late 2024 but gained through most of 2025, as easing inflation and Fed rate-cut expectations supported prices despite a steepening yield curve. 

* Relative performance benefited mainly from the Fund's overweight in corporate bonds and a small out-of-Index allocation to agency commercial mortgage-backed securities. 

* The Fund's long duration in Treasuries also boosted relative performance in the first half of 2025. 

* The Fund's long duration in Treasuries detracted in late 2025 as bond prices fell and the curve steepened, partly offset by shorter-duration corporate holdings. Overall duration remained neutral to modestly long. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586700.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in each of the Bloomberg U.S. Government/Credit Bond Index (a broad-based index) and Bloomberg U.S. Intermediate Government/Credit Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 4.22% | 1.06% | 2.04% |
| Bloomberg U.S. Government/Credit Bond Index (broad-based index) | 3.00% | -0.83% | 1.95% |
| Bloomberg U.S. Intermediate Government/Credit Index | 4.70% | 0.73% | 2.12% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $423 | 104 | $1778321 | 64.17% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10586729.jpg)

 **Allocation of Holdings (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10586705.jpg)

#### How has the Fund changed?
* The Board of Trustees of BNY Mellon Funds Trust (the "Trust") has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Intermediate Bond Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Active Core Bond ETF (the "Acquiring ETF"). If approved by Fund shareholders, the Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, if the reorganization is approved by Fund shareholders, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities. If shareholders approve the Reorganizations, each Fund is expected to be converted from a mutual fund to an ETF on or about January 9, 2026. For more information, please refer to prospectus/proxy statement filed September 17, 2025. 

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025. 

 **This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0962AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Intermediate Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MIIDX
This annual shareholder report contains important information about BNY Mellon Intermediate Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 | $87 | 0.85% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 4.06%. 

* In comparison, the Bloomberg U.S. Intermediate Government/Credit Index (the "Index") returned 4.70% for the same period. 

 **What affected the Fund's performance?**

* Intermediate bonds declined in late 2024 but gained through most of 2025, as easing inflation and Fed rate-cut expectations supported prices despite a steepening yield curve. 

* Relative performance benefited mainly from the Fund's overweight in corporate bonds and a small out-of-Index allocation to agency commercial mortgage-backed securities. 

* The Fund's long duration in Treasuries also boosted relative performance in the first half of 2025. 

* The Fund's long duration in Treasuries detracted in late 2025 as bond prices fell and the curve steepened, partly offset by shorter-duration corporate holdings. Overall duration remained neutral to modestly long. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586750.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in each of the Bloomberg U.S. Government/Credit Bond Index (a broad-based index) and Bloomberg U.S. Intermediate Government/Credit Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 4.06% | 0.84% | 1.80% |
| Bloomberg U.S. Government/Credit Bond Index (broad-based index) | 3.00% | -0.83% | 1.95% |
| Bloomberg U.S. Intermediate Government/Credit Index | 4.70% | 0.73% | 2.12% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $423 | 104 | $1778321 | 64.17% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10586779.jpg)

 **Allocation of Holdings (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10586755.jpg)

#### How has the Fund changed?
* The Board of Trustees of BNY Mellon Funds Trust (the "Trust") has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Intermediate Bond Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Active Core Bond ETF (the "Acquiring ETF"). If approved by Fund shareholders, the Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, if the reorganization is approved by Fund shareholders, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities. If shareholders approve the Reorganizations, each Fund is expected to be converted from a mutual fund to an ETF on or about January 9, 2026. For more information, please refer to prospectus/proxy statement filed September 17, 2025. 

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025. 

 **This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0969AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon International Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MPITX
This annual shareholder report contains important information about BNY Mellon International Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M<sup>\*</sup> | $93 | 0.88% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 12.28%.

* In comparison, the MSCI EAFE<sup>®</sup> Index (the "Index") returned 13.87% for the same period.

**What affected the Fund's performance?**

* International equities rose, led by gains in the financials and industrials sectors, and, regionally, by advances in Europe ex UK.

* Relative to the Index, the Fund benefited most from strong security selection in materials and health care, and from underweight exposure to health care.

* On a regional basis, relative performance benefited most from security selection in Japan and Europe ex UK.

* Primary sector detractors included security selection in consumer discretionary and financials, while the most significant regional detractor was security selection in the UK.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586500.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in the MSCI EAFE<sup>®</sup> Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 12.28% | 8.63% | 6.30% |
| MSCI EAFE<sup>®</sup> Index | 13.87% | 10.15% | 7.40% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html .

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $229 | 59 | $1478876 | 80.17% |

---

**Portfolio Holdings (as of 8/31/25)**

**Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10586529.jpg)

\* 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](chartimages_10586505.jpg)

**For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0959AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon International Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MIINX
This annual shareholder report contains important information about BNY Mellon International Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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<sup>\*</sup> | $120 | 1.13% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 12.05%.

* In comparison, the MSCI EAFE<sup>®</sup> Index (the "Index") returned 13.87% for the same period.

**What affected the Fund's performance?**

* International equities rose, led by gains in the financials and industrials sectors, and, regionally, by advances in Europe ex UK.

* Relative to the Index, the Fund benefited most from strong security selection in materials and health care, and from underweight exposure to health care.

* On a regional basis, relative performance benefited most from security selection in Japan and Europe ex UK.

* Primary sector detractors included security selection in consumer discretionary and financials, while the most significant regional detractor was security selection in the UK.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586550.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in the MSCI EAFE<sup>®</sup> Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 12.05% | 8.35% | 6.04% |
| MSCI EAFE<sup>®</sup> Index | 13.87% | 10.15% | 7.40% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html .

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $229 | 59 | $1478876 | 80.17% |

---

**Portfolio Holdings (as of 8/31/25)**

**Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10586579.jpg)

\* 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](chartimages_10586555.jpg)

**For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0907AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Massachusetts Intermediate Municipal Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MMBMX
This annual shareholder report contains important information about BNY Mellon Massachusetts Intermediate Municipal Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M | $62 | 0.62% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 1.31%.

* In comparison, the S&P Municipal Bond Investment Grade Intermediate Index (the "Index") returned 2.12% for the same period.

**What affected the Fund's performance?**

* Front-end muni yields rallied on moderating inflation and rate-cuts expectations. Heavy new issue supply pressured longer maturities, contributing to the yield curve's bear steepening 10 years and longer.

* An overweight to lower-rated credits (A and BBB) bolstered relative performance. From a sector perspective, housing and IDR/PCR credits were also positive contributors.

* Longer-maturity exposure beyond the Index (15 years and longer) was the most significant detractor from relative returns. Longer-duration positioning in AAA-rated credits and tax-supported credits also detracted.

* Issue-specific headwinds in Massachusetts higher education holdings detracted as spreads widened during the period.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586100.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in each of the S&P Municipal Bond Index (a broad-based index) and S&P Municipal Bond Investment Grade Intermediate Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 1.31% | 0.75% | 1.96% |
| S&P Municipal Bond Index (broad-based index) | 0.44% | 0.65% | 2.28% |
| S&P Municipal Bond Investment Grade Intermediate Index | 2.12% | 0.78% | 2.25% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $121 | 109 | $463502 | 48.39% |

---

**Portfolio Holdings (as of 8/31/25)**

**Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10586129.jpg)

**How has the Fund changed?**

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0912AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Massachusetts Intermediate Municipal Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MMBIX
This annual shareholder report contains important information about BNY Mellon Massachusetts Intermediate Municipal Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 | $87 | 0.87% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 0.98%. 

* In comparison, the S&P Municipal Bond Investment Grade Intermediate Index (the "Index") returned 2.12% for the same period. 

 **What affected the Fund's performance?**

* Front-end muni yields rallied on moderating inflation and rate-cuts expectations. Heavy new issue supply pressured longer maturities, contributing to the yield curve's bear steepening 10 years and longer. 

* An overweight to lower-rated credits (A and BBB) bolstered relative performance. From a sector perspective, housing and IDR/PCR credits were also positive contributors. 

* Longer-maturity exposure beyond the Index (15 years and longer) was the most significant detractor from relative returns. Longer-duration positioning in AAA-rated credits and tax-supported credits also detracted. 

* Issue-specific headwinds in Massachusetts higher education holdings detracted as spreads widened during the period. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586150.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in each of the S&P Municipal Bond Index (a broad-based index) and S&P Municipal Bond Investment Grade Intermediate Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 0.98% | 0.48% | 1.70% |
| S&P Municipal Bond Index (broad-based index) | 0.44% | 0.65% | 2.28% |
| S&P Municipal Bond Investment Grade Intermediate Index | 2.12% | 0.78% | 2.25% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $121 | 109 | $463502 | 48.39% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10586179.jpg)

 **How has the Fund changed?**

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025. 

 **This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0911AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Mid Cap Multi-Strategy Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MPMCX
This annual shareholder report contains important information about BNY Mellon Mid Cap Multi-Strategy Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M | $101 | 0.95% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 11.77%. 

* In comparison, the Russell Midcap<sup>®</sup> Index returned 12.58% for the same period. 

 **What affected the Fund's performance?**

* U.S. mid-cap stocks advanced on better-than-expected and improving earnings, resilient economic growth, lower inflation and the start of a global easing cycle. 

* The Fund's strongest relative returns came from the growth and tax-sensitive categories. Growth benefited from allocation, while tax-sensitive was driven by security selection. 

* The primary detractor was the value category, which underperformed due to asset allocation. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586300.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in each of the Russell 3000<sup>®</sup> Index (a broad-based index) and Russell Midcap<sup>®</sup> Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 11.77% | 10.28% | 10.39% |
| Russell 3000<sup>®</sup> Index (broad-based index) | 15.84% | 14.11% | 13.98% |
| Russell Midcap<sup>®</sup> Index | 12.58% | 12.02% | 10.88% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $677 | 603 | $6810119 | 45.73% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10586329.jpg)

\* 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](chartimages_10586305.jpg)

 **For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0957AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Mid Cap Multi-Strategy Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MIMSX
This annual shareholder report contains important information about BNY Mellon Mid Cap Multi-Strategy Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 | $127 | 1.20% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 11.47%. 

* In comparison, the Russell Midcap<sup>®</sup> Index returned 12.58% for the same period. 

 **What affected the Fund's performance?**

* U.S. mid-cap stocks advanced on better-than-expected and improving earnings, resilient economic growth, lower inflation and the start of a global easing cycle. 

* The Fund's strongest relative returns came from the growth and tax-sensitive categories. Growth benefited from allocation, while tax-sensitive was driven by security selection. 

* The primary detractor was the value category, which underperformed due to asset allocation. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586350.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in each of the Russell 3000<sup>®</sup> Index (a broad-based index) and Russell Midcap<sup>®</sup> Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 11.47% | 10.00% | 10.12% |
| Russell 3000<sup>®</sup> Index (broad-based index) | 15.84% | 14.11% | 13.98% |
| Russell Midcap<sup>®</sup> Index | 12.58% | 12.02% | 10.88% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $677 | 603 | $6810119 | 45.73% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10586379.jpg)

\* 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](chartimages_10586355.jpg)

 **For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0905AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Municipal Opportunities Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MOTMX
This annual shareholder report contains important information about BNY Mellon Municipal Opportunities Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M | $72 | 0.72% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned -0.94%.

* In comparison, the S&P Municipal Bond Index (the "Index") returned 0.44% for the same period.

**What affected the Fund's performance?**

* Front-end muni yields rallied more than longer maturities on moderating inflation and rate-cut expectations. Heavy new issue supply pressured longer maturities, contributing to bear steepening beyond 10 years.

* A higher coupon profile buffered higher rates and was slightly positive versus the Index. Hedging strategies also helped, as did overweight exposure to IDR/PCR bonds and municipal bond rate locks.

* Significantly overweight exposure to longer-dated securities was the main detractor from the Fund's relative performance, as the return gap between 5-year bonds and 22+ year bonds exceeded 7.5%.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586200.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in each of the S&P Municipal Bond Index (a broad-based index) and Bloomberg U.S. Municipal Bond Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | -0.94% | 1.10% | 2.66% |
| S&P Municipal Bond Index (broad-based index)<sup>\*</sup> | 0.44% | 0.65% | 2.28% |
| Bloomberg U.S. Municipal Bond Index<sup>\*\*</sup> | 0.08% | 0.40% | 2.18% |

---

---

| | |
|:---|:---|
| <sup>\*</sup> | In accordance with regulatory changes requiring the Fund's primary benchmark to represent the overall applicable market, the Fund's primary prospectus benchmark changed to the indicated benchmark effective as of August 31, 2024. |
| <sup>\*\*</sup> | Effective as of August 31, 2024, changes were made to the fund's performance benchmarks. Performance of the Bloomberg U.S. Municipal Bond Index will not be shown in the future. |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $1931 | 727 | $10408075 | 45.11% |

---

**Portfolio Holdings (as of 8/31/25)**

**Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10586229.jpg)

**State Allocation (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10586205.jpg)

#### How has the Fund changed?
* The Board of Trustees of BNY Mellon Funds Trust (the "Trust") has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Municipal Opportunities Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Municipal Opportunities ETF (the "Acquiring ETF"). If approved by Fund shareholders, the Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, if the reorganization is approved by Fund shareholders, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities. If shareholders approve the Reorganizations, each Fund is expected to be converted from a mutual fund to an ETF on or about January 9, 2026. For more information, please refer to prospectus/proxy statement filed September 17, 2025.

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-6085AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Municipal Opportunities Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MOTIX
This annual shareholder report contains important information about BNY Mellon Municipal Opportunities Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 | $96 | 0.97% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned -1.26%.

* In comparison, the S&P Municipal Bond Index (the "Index") returned 0.44% for the same period.

**What affected the Fund's performance?**

* Front-end muni yields rallied more than longer maturities on moderating inflation and rate-cut expectations. Heavy new issue supply pressured longer maturities, contributing to bear steepening beyond 10 years.

* A higher coupon profile buffered higher rates and was slightly positive versus the Index. Hedging strategies also helped, as did overweight exposure to IDR/PCR bonds and municipal bond rate locks.

* Significantly overweight exposure to longer-dated securities was the main detractor from the Fund's relative performance, as the return gap between 5-year bonds and 22+ year bonds exceeded 7.5%.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586250.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in each of the S&P Municipal Bond Index (a broad-based index) and Bloomberg U.S. Municipal Bond Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | -1.26% | 0.84% | 2.40% |
| S&P Municipal Bond Index (broad-based index)<sup>\*</sup> | 0.44% | 0.65% | 2.28% |
| Bloomberg U.S. Municipal Bond Index<sup>\*\*</sup> | 0.08% | 0.40% | 2.18% |

---

---

| | |
|:---|:---|
| <sup>\*</sup> | In accordance with regulatory changes requiring the Fund's primary benchmark to represent the overall applicable market, the Fund's primary prospectus benchmark changed to the indicated benchmark effective as of August 31, 2024. |
| <sup>\*\*</sup> | Effective as of August 31, 2024, changes were made to the fund's performance benchmarks. Performance of the Bloomberg U.S. Municipal Bond Index will not be shown in the future. |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $1931 | 727 | $10408075 | 45.11% |

---

**Portfolio Holdings (as of 8/31/25)**

**Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10586279.jpg)

**State Allocation (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10586255.jpg)

#### How has the Fund changed?
* The Board of Trustees of BNY Mellon Funds Trust (the "Trust") has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Municipal Opportunities Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Municipal Opportunities ETF (the "Acquiring ETF"). If approved by Fund shareholders, the Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, if the reorganization is approved by Fund shareholders, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities. If shareholders approve the Reorganizations, each Fund is expected to be converted from a mutual fund to an ETF on or about January 9, 2026. For more information, please refer to prospectus/proxy statement filed September 17, 2025.

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-6084AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon National Intermediate Municipal Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MPNIX
This annual shareholder report contains important information about BNY Mellon National Intermediate Municipal Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M | $53 | 0.53% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 1.71%.

* In comparison, the S&P Municipal Bond Investment Grade Intermediate Index (the "Index") returned 2.12% for the same period.

**What affected the Fund's performance?**

* Front-end muni yields rallied on moderating inflation and rate-cuts expectations. Heavy new issue supply pressured longer maturities, contributing to the yield curve's bear steepening 10 years and longer.

* An overweight to lower-rated credits (A and BBB) bolstered relative performance. From a sector perspective, transportation and IDR/PCR credits were also positive contributors.

* Longer-maturity exposure beyond the Index (15 years and longer) was the most significant detractor from relative returns. Longer-duration positioning in tax-supported credits also detracted.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585800.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in each of the S&P Municipal Bond Index (a broad-based index) and S&P Municipal Bond Investment Grade Intermediate Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 1.71% | 0.82% | 2.11% |
| S&P Municipal Bond Index (broad-based index) | 0.44% | 0.65% | 2.28% |
| S&P Municipal Bond Investment Grade Intermediate Index | 2.12% | 0.78% | 2.25% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $1760 | 546 | $6035981 | 66.38% |

---

**Portfolio Holdings (as of 8/31/25)**

**Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10585829.jpg)

**State Allocation (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10585805.jpg)

#### How has the Fund changed?
* The Board of Trustees of BNY Mellon Funds Trust (the "Trust") has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon National Intermediate Municipal Bond Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Municipal Intermediate ETF (the "Acquiring ETF"). If approved by Fund shareholders, the Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, if the reorganization is approved by Fund shareholders, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities. If shareholders approve the Reorganizations, each Fund is expected to be converted from a mutual fund to an ETF on or about January 9, 2026. For more information, please refer to prospectus/proxy statement filed September 17, 2025.

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0964AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon National Intermediate Municipal Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MINMX
This annual shareholder report contains important information about BNY Mellon National Intermediate Municipal Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 | $79 | 0.78% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 1.45%.

* In comparison, the S&P Municipal Bond Investment Grade Intermediate Index (the "Index") returned 2.12% for the same period.

**What affected the Fund's performance?**

* Front-end muni yields rallied on moderating inflation and rate-cuts expectations. Heavy new issue supply pressured longer maturities, contributing to the yield curve's bear steepening 10 years and longer.

* An overweight to lower-rated credits (A and BBB) bolstered relative performance. From a sector perspective, transportation and IDR/PCR credits were also positive contributors.

* Longer-maturity exposure beyond the Index (15 years and longer) was the most significant detractor from relative returns. Longer-duration positioning in tax-supported credits also detracted.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10585850.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in each of the S&P Municipal Bond Index (a broad-based index) and S&P Municipal Bond Investment Grade Intermediate Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 1.45% | 0.57% | 1.85% |
| S&P Municipal Bond Index (broad-based index) | 0.44% | 0.65% | 2.28% |
| S&P Municipal Bond Investment Grade Intermediate Index | 2.12% | 0.78% | 2.25% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $1760 | 546 | $6035981 | 66.38% |

---

**Portfolio Holdings (as of 8/31/25)**

**Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10585879.jpg)

**State Allocation (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10585855.jpg)

#### How has the Fund changed?
* The Board of Trustees of BNY Mellon Funds Trust (the "Trust") has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon National Intermediate Municipal Bond Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Municipal Intermediate ETF (the "Acquiring ETF"). If approved by Fund shareholders, the Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, if the reorganization is approved by Fund shareholders, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities. If shareholders approve the Reorganizations, each Fund is expected to be converted from a mutual fund to an ETF on or about January 9, 2026. For more information, please refer to prospectus/proxy statement filed September 17, 2025.

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0971AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon National Short-Term Municipal Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MPSTX
This annual shareholder report contains important information about BNY Mellon National Short-Term Municipal Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M<sup>\*</sup> | $45 | 0.44% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 3.46%.

* In comparison, the S&P Municipal Bond Investment Grade Short Index returned 3.43% for the same period.

**What affected the Fund's performance?**

* Bond prices generally gained during the period, as heavy demand for short maturities created strong technical support. Front-end muni yields rallied on moderating inflation and expectations for rates cuts.

* The Fund's relative returns benefited from a higher-duration, longer-maturity exposure and positive security selection effects in higher-quality segments.

* An overweight to housing bonds further contributed to the Fund's relative performance.

* Security selection effects in the BBB rating category, as well as an overweight to bonds maturing in 2024, detracted from relative returns.

#### How did the Fund perform over the past 10 years?
**The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

**Cumulative Performance from September 1 , 2015 through August 31, 2025** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586000.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in each of the S&P Municipal Bond Index (a broad-based index) and S&P Municipal Bond Investment Grade Short Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 3.46% | 1.48% | 1.42% |
| S&P Municipal Bond Index (broad-based index) | 0.44% | 0.65% | 2.28% |
| S&P Municipal Bond Investment Grade Short Index | 3.43% | 1.47% | 1.59% |

---

**The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

**KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $511 | 274 | $946749 | 88.48% |

---

**Portfolio Holdings (as of 8/31/25)**

**Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10586029.jpg)

**State Allocation (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10586005.jpg)

#### How has the Fund changed?
* The Board of Trustees of BNY Mellon Funds Trust (the "Trust") has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon National Short-Term Municipal Bond Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Municipal Short Duration ETF (the "Acquiring ETF"). If approved by Fund shareholders, the Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, if the reorganization is approved by Fund shareholders, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities. If shareholders approve the Reorganizations, each Fund is expected to be converted from a mutual fund to an ETF on or about January 9, 2026. For more information, please refer to prospectus/proxy statement filed September 17, 2025.

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025.

**This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0965AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon National Short-Term Municipal Bond Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MINSX
This annual shareholder report contains important information about BNY Mellon National Short-Term Municipal Bond Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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<sup>\*</sup> | $70 | 0.69% |

---

\* 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. If this agreement is not extended in the future, expenses could be higher.

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 3.20%. 

* In comparison, the S&P Municipal Bond Investment Grade Short Index returned 3.43% for the same period. 

 **What affected the Fund's performance?**

* Bond prices generally gained during the period, as heavy demand for short maturities created strong technical support. Front-end muni yields rallied on moderating inflation and expectations for rates cuts. 

* The Fund's relative returns benefited from a higher-duration, longer-maturity exposure and positive security selection effects in higher-quality segments. 

* An overweight to housing bonds further contributed to the Fund's relative performance. 

* Security selection effects in the BBB rating category, as well as an overweight to bonds maturing in 2024, detracted from relative returns. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586050.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in each of the S&P Municipal Bond Index (a broad-based index) and S&P Municipal Bond Investment Grade Short Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 3.20% | 1.22% | 1.17% |
| S&P Municipal Bond Index (broad-based index) | 0.44% | 0.65% | 2.28% |
| S&P Municipal Bond Investment Grade Short Index | 3.43% | 1.47% | 1.59% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $511 | 274 | $946749 | 88.48% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Sector Allocation (Based on Net Assets)**

![Graphical Representation - Top N Holdings Chart](chartimages_10586079.jpg)

 **State Allocation (Based on Net Assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_10586055.jpg)

#### How has the Fund changed?
* The Board of Trustees of BNY Mellon Funds Trust (the "Trust") has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon National Short-Term Municipal Bond Fund (the "Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Municipal Short Duration ETF (the "Acquiring ETF"). If approved by Fund shareholders, the Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, if the reorganization is approved by Fund shareholders, the Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Fund's liabilities. If shareholders approve the Reorganizations, each Fund is expected to be converted from a mutual fund to an ETF on or about January 9, 2026. For more information, please refer to prospectus/proxy statement filed September 17, 2025. 

* Effective October 1, 2025, BNY Mellon Investment Adviser, Inc. (the "Adviser") has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to the Fund, pursuant to a sub-investment advisory agreement between the Adviser and INA. For more information, please refer to the supplement filed September 17, 2025. 

 **This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on September 17, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0972AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Small Cap Multi-Strategy Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Class M – MPSSX
This annual shareholder report contains important information about BNY Mellon Small Cap Multi-Strategy Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 M | $115 | 1.09% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Class M shares returned 10.73%. 

* In comparison, the Russell 2000<sup>®</sup> Index returned 8.17% for the same period. 

#### What affected the Fund's performance?
* U.S. small-cap stocks benefited from a healthy corporate environment and moderating interest rates. A surge in investment tied to the artificial intelligence buildout bolstered the performance of AI-adjacent names. 

* Strong stock selection in consumer discretionary was the largest contributor to the Fund's relative performance, followed by stock selection in energy and information technology. 

* Secondary positive contributors included stock selection in communication services and underweight exposure to the poorly performing health care sector. 

* Disappointing stock selection in consumer staples and industrials detracted most from the Fund's relative returns. 

* Secondary detractors included stock selection in and underweight exposure to financials. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586400.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class M shares to a hypothetical investment of $10,000 made in each of the Russell 3000<sup>®</sup> Index (a broad-based index) and Russell 2000<sup>®</sup> Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class M | 10.73% | 7.74% | 8.92% |
| Russell 3000<sup>®</sup> Index (broad-based index) | 15.84% | 14.11% | 13.98% |
| Russell 2000<sup>®</sup> Index | 8.17% | 10.13% | 8.88% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $199 | 179 | $2113331 | 74.67% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10586429.jpg)

\* 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](chartimages_10586405.jpg)

 **How has the Fund changed?**

* Effective June 16, 2025, the Fund removed the Opportunistic Small Cap Strategy sleeve from the Fund's investment strategies. 

 **This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on June 11, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0958AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

BNY Mellon Small Cap Multi-Strategy Fund

#### ANNUAL SHAREHOLDER REPORT

#### August 31, 2025

#### Investor Shares – MISCX
This annual shareholder report contains important information about BNY Mellon Small Cap Multi-Strategy Fund (the "Fund") for the period of September 1, 2024 to August 31, 2025. You can find additional information about the Fund at bny.com/investments/us/en/intermediary/products/bny-mellon.html. 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 year ?
(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 | $141 | 1.34% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended August 31, 2025, the Fund's Investor Shares returned 10.47%. 

* In comparison, the Russell 2000<sup>®</sup> Index returned 8.17% for the same period. 

#### What affected the Fund's performance?
* U.S. small-cap stocks benefited from a healthy corporate environment and moderating interest rates. A surge in investment tied to the artificial intelligence buildout bolstered the performance of AI-adjacent names. 

* Strong stock selection in consumer discretionary was the largest contributor to the Fund's relative performance, followed by stock selection in energy and information technology. 

* Secondary positive contributors included stock selection in communication services and underweight exposure to the poorly performing health care sector. 

* Disappointing stock selection in consumer staples and industrials detracted most from the Fund's relative returns. 

* Secondary detractors included stock selection in and underweight exposure to financials. 

#### How did the Fund perform over the past 10 years?
 **The Fund's past performance is not a good predictor of the Fund's future performance.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

 **Cumulative Performance from September 1 , 2015 through August 31, 2025** 

 **Initial Investment of $10,000**

![Fund Performance - Growth of 10K Chart](chartimages_10586450.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Investor Shares to a hypothetical investment of $10,000 made in each of the Russell 3000<sup>®</sup> Index (a broad-based index) and Russell 2000<sup>®</sup> Index on 8/31/2015. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

 **AVERAGE ANNUAL TOTAL RETURNS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Investor Shares | 10.47% | 7.47% | 8.65% |
| Russell 3000<sup>®</sup> Index (broad-based index) | 15.84% | 14.11% | 13.98% |
| Russell 2000<sup>®</sup> Index | 8.17% | 10.13% | 8.88% |

---

 **The performance data quoted represent past performance, which is no guarantee of future results. For more current information visit** bny.com/investments/us/en/intermediary/products/bny-mellon.html **.**

 **KEY FUND STATISTICS (AS OF 8/31/25)**

---

| | | | |
|:---|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **Total Advisory Fee Paid During<br> Period** | **<br> Annual Portfolio Turnover** |
| $199 | 179 | $2113331 | 74.67% |

---

 **Portfolio Holdings (as of 8/31/25)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_10586479.jpg)

\* 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](chartimages_10586455.jpg)

 **How has the Fund changed?**

* Effective June 16, 2025, the Fund removed the Opportunistic Small Cap Strategy sleeve from the Fund's investment strategies. 

 **This is a summary of certain changes to the Fund since September 1, 2024 . For more complete information, you may review the Fund's current prospectus dated December 31, 2024 as supplemented on June 11, 2025 at** bny.com/investments/us/en/intermediary/products/bny-mellon.html **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/us/en/intermediary/products/bny-mellon.html **.**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2025 **BNY Mellon Securities Corporation**, Distributor,

240 Greenwich Street, 9th Floor, New York, NY 10286

Code-0906AR0825

![TSR- BNY Investment Logo](images_27696.jpg)

------

**Item 2.** **Code of Ethics.**

The Registrant has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions.

**Item 3.** **Audit Committee Financial Expert.**

The Registrant's Board has determined that Thomas F. Ryan, a member of the Audit Committee of the Board, is an audit committee financial expert as defined by the Securities and Exchange Commission (the "SEC"). Mr. Ryan is "independent" as defined by the SEC for purposes of audit committee financial expert determinations.

**Item 4.** **Principal Accountant Fees and Services.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Audit Fees</u>. The aggregate fees billed for each of the last two fiscal years (the "Reporting Periods") for professional services rendered by the Registrant's principal accountant (the "Auditor") for the audit of the Registrant's annual financial statements or services that are normally provided by the Auditor in connection with the statutory and regulatory filings or engagements for the Reporting Periods, were $528,000 in 2024 and $416,400 in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Audit-Related Fees</u>. The aggregate fees billed in the Reporting Periods for assurance and related services by the Auditor that are reasonably related to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item 4 were $83,000 in 2024 and $68,200 in 2025. These services consisted of security counts required by Rule 17f-2 under the Investment Company Act of 1940, as amended.

The aggregate fees billed in the Reporting Periods for non-audit assurance and related services by the Auditor to the Registrant's investment adviser (not including any sub-investment adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the Registrant ("Service Affiliates"), that were reasonably related to the performance of the annual audit of the Service Affiliate, which required pre-approval by the Audit Committee were $5,102,266 in 2024 and $5,175,452 in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Tax Fees</u>. The aggregate fees billed in the Reporting Periods for professional services rendered by the Auditor for tax compliance, tax advice, and tax planning ("Tax Services") were $0 in 2024 and $0 in 2025. The aggregate fees billed in the Reporting Periods for Tax Services by the Auditor to Service Affiliates, which required pre-approval by the Audit Committee were $0 in 2024 and $0 in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>All Other Fees</u>. The aggregate fees billed in the Reporting Periods for products and services provided by the Auditor, other than the services reported in paragraphs (a) through (c) of this Item, were $0 in 2024 and $0 in 2025.

The aggregate fees billed in the Reporting Periods for Non-Audit Services by the Auditor to Service Affiliates, other than the services reported in paragraphs (b) through (c) of this Item, which required pre-approval by the Audit Committee, were $0 in 2024 and $0 in 2025.

(e)(1) <u>Audit Committee Pre-Approval Policies and Procedures</u>. The Registrant's Audit Committee has established policies and procedures (the "Policy") for pre-approval (within specified fee limits) of the Auditor's engagements for non-audit services to the Registrant and Service Affiliates without specific case-by-case consideration. The pre-approved services in the Policy can include pre-approved audit services, pre-approved audit-related services, pre-approved tax services and pre-approved all other services. Pre-

approval considerations include whether the proposed services are compatible with maintaining the Auditor's independence. Pre-approvals pursuant to the Policy are considered annually.

(e)(2) <u>Note</u>. None of the services described in paragraphs (b) through (d) of this Item 4 were approved by the Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) None of the hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant's full-time, permanent employees.

<u>Non-Audit Fees</u>. The aggregate non-audit fees billed by the Auditor for services rendered to the Registrant, and rendered to Service Affiliates, for the Reporting Periods were $0 in 2024 and $0 in 2025.

<u>Auditor Independence</u>. The Registrant's Audit Committee has considered whether the provision of non-audit services that were rendered to Service Affiliates, which were not pre-approved (not requiring pre-approval), is compatible with maintaining the Auditor's independence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Not applicable.

**Item 5.** **Audit Committee of Listed Registrants.**

Not applicable.

**Item 6.** **Investments.**

Not applicable.

**BNY Mellon Funds Trust**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Funds** | **Ticker Symbols** | **Ticker Symbols** | **Ticker Symbols** | **Ticker Symbols** | **Ticker Symbols** | **Ticker Symbols** |
|  | Class M | Investor Shares | Class A | Class C | Class I | Class Y |
| BNY Mellon Income Stock Fund | MPISX | MIISX | BMIAX | BMISX | BMIIX | BMIYX |
| BNY Mellon Mid Cap Multi-Strategy Fund | MPMCX | MIMSX |  |  |  |  |
| BNY Mellon Small Cap Multi-Strategy Fund | MPSSX | MISCX |  |  |  |  |
| BNY Mellon International Fund | MPITX | MIINX |  |  |  |  |
| BNY Mellon Emerging Markets Fund | MEMKX | MIEGX |  |  |  |  |
| BNY Mellon Asset Allocation Fund | MPBLX | MIBLX |  |  |  |  |

---

**ANNUAL FINANCIALS AND OTHER INFORMATION**

August 31, 2025

![](img5aeb86be1.gif)

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**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 Funds

Please note the 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").

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **[Item 7. Financial Statements and Financial Highlights for Open-End Management](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_SOI-Continued-4705_1)**<br> **[Investment Companies](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_SOI-Continued-4705_1)**<br>| 2 |
| [Schedules of Investments](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_SOI-Continued-4705_1) | 2 |
| [Statements of Assets and Liabilities](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_FS-Continued-4705_1) | 48 |
| [Statements of Operations](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_FS-Continued-4705_4) | 51 |
| [Statements of Changes in Net Assets](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_FS-Continued-4705_6) | 53 |
| [Financial Highlights](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_FIHI-Continued-4705_1) | 59 |
| [Notes to Financial Statements](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_NTF-Continued-4705_1) | 75 |
| [Report of Independent Registered Public Accounting Firm](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_AUD-Continued-4705_1) | 91 |
| [Important Tax Information](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_ITI-Continued_1) | 92 |
| **[Item 8. Changes in and Disagreements with Accountants for Open-End Management](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_CDA-Continued-4705_1)**<br> **[Investment Companies](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_CDA-Continued-4705_1)**<br>| 93 |
| **[Item 9. Proxy Disclosures for Open-End Management Investment Companies](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_PRXD-Continued-4705_1)** | 94 |
| **[Item 10. Remuneration Paid to Directors, Officers, and Other of Open-End](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_RMNP-Continued_1)**<br> **[Management Investment Companies](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_RMNP-Continued_1)**<br>| 95 |
| **[Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts](#xx_69a233ba-be3d-4a4f-9d7d-b636b5d12069_AAA-Continued-4705_1)** | 96 |

---

------

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Income Stock Fund** | **BNY Mellon Income Stock Fund** | **BNY Mellon Income Stock Fund** |
| Description | Shares | Value ($) |
| **Common Stocks — 96.5%** | **Common Stocks — 96.5%** | **Common Stocks — 96.5%** |
| **Automobiles & Components — .7%** | **Automobiles & Components — .7%** | **Automobiles & Components — .7%** |
| Ford Motor Co. | 105631 | **1243277** |
| **Banks — 12.2%** | **Banks — 12.2%** | **Banks — 12.2%** |
| Bank of America Corp. | 87388 | 4434067 |
| Citigroup, Inc. | 29475 | 2846401 |
| Columbia Banking System, Inc. | 47446 | 1270129 |
| Comerica, Inc. | 37408 | 2640257 |
| First Horizon Corp. | 119437 | 2699276 |
| JPMorgan Chase & Co. | 23072 | 6954362 |
|  |  | **20844492** |
| **Capital Goods — 10.5%** | **Capital Goods — 10.5%** | **Capital Goods — 10.5%** |
| Carlisle Cos., Inc. | 6820 | 2631770 |
| Caterpillar, Inc. | 5094 | 2134590 |
| Emerson Electric Co. | 8928 | 1178496 |
| Ferguson Enterprises, Inc. | 8566 | 1980031 |
| Honeywell International, Inc. | 6353 | 1394483 |
| Hubbell, Inc. | 5787 | 2494139 |
| L3Harris Technologies, Inc. | 22450 | 6232569 |
|  |  | **18046078** |
| **Consumer Services — 2.8%** | **Consumer Services — 2.8%** | **Consumer Services — 2.8%** |
| Las Vegas Sands Corp. | 47256 | 2723364 |
| Royal Caribbean Cruises Ltd. | 5624 | 2042749 |
|  |  | **4766113** |
| **Energy — 8.7%** | **Energy — 8.7%** | **Energy — 8.7%** |
| Chevron Corp. | 15615 | 2507769 |
| Diamondback Energy, Inc. | 11744 | 1747037 |
| EQT Corp. | 28986 | 1502634 |
| Exxon Mobil Corp. | 26892 | 3073487 |
| Marathon Petroleum Corp. | 14881 | 2674265 |
| Permian Resources Corp. | 59336 | 847911 |
| Phillips 66 | 18944 | 2530540 |
|  |  | **14883643** |
| **Equity Real Estate Investment Trusts — 1.1%** | **Equity Real Estate Investment Trusts — 1.1%** | **Equity Real Estate Investment Trusts — 1.1%** |
| Weyerhaeuser Co.<sup>(a)</sup> <br>| 70931 | **1834985** |
| **Financial Services — 8.2%** | **Financial Services — 8.2%** | **Financial Services — 8.2%** |
| Capital One Financial Corp. | 19438 | 4416702 |
| Intercontinental Exchange, Inc. | 9137 | 1613594 |
| Morgan Stanley | 12284 | 1848496 |
| The Charles Schwab Corp. | 22526 | 2158892 |
| The Goldman Sachs Group, Inc. | 2929 | 2182837 |
| Voya Financial, Inc. | 23083 | 1733303 |
|  |  | **13953824** |
| **Food, Beverage & Tobacco — 1.0%** | **Food, Beverage & Tobacco — 1.0%** | **Food, Beverage & Tobacco — 1.0%** |
| Philip Morris International, Inc. | 10320 | **1724782** |
| **Health Care Equipment & Services — 7.4%** | **Health Care Equipment & Services — 7.4%** | **Health Care Equipment & Services — 7.4%** |
| Humana, Inc. | 5739 | 1742705 |
| Labcorp Holdings, Inc. | 8453 | 2349849 |

---

**2**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Income Stock Fund (continued)** | **BNY Mellon Income Stock Fund (continued)** | **BNY Mellon Income Stock Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 96.5% (continued)** | **Common Stocks — 96.5% (continued)** | **Common Stocks — 96.5% (continued)** |
| **Health Care Equipment & Services — 7.4% (continued)** | **Health Care Equipment & Services — 7.4% (continued)** | **Health Care Equipment & Services — 7.4% (continued)** |
| Medtronic PLC | 60933 | 5655192 |
| UnitedHealth Group, Inc. | 9308 | 2884270 |
|  |  | **12632016** |
| **Household & Personal Products — 1.8%** | **Household & Personal Products — 1.8%** | **Household & Personal Products — 1.8%** |
| Kenvue, Inc. | 57207 | 1184757 |
| The Estee Lauder Companies, Inc., Cl. A | 21001 | 1926422 |
|  |  | **3111179** |
| **Insurance — 8.0%** | **Insurance — 8.0%** | **Insurance — 8.0%** |
| American International Group, Inc. | 26865 | 2184662 |
| Aon PLC, Cl. A | 12454 | 4570618 |
| Assurant, Inc. | 32490 | 7005169 |
|  |  | **13760449** |
| **Materials — 8.9%** | **Materials — 8.9%** | **Materials — 8.9%** |
| CRH PLC | 40863 | 4615476 |
| Freeport-McMoRan, Inc. | 48823 | 2167741 |
| International Paper Co. | 87261 | 4335127 |
| Newmont Corp. | 19571 | 1456082 |
| Packaging Corp. of America | 6101 | 1329774 |
| The Mosaic Company | 37497 | 1252400 |
|  |  | **15156600** |
| **Media & Entertainment — 2.6%** | **Media & Entertainment — 2.6%** | **Media & Entertainment — 2.6%** |
| Omnicom Group, Inc. | 23576 | 1846708 |
| The Walt Disney Company | 21861 | 2587905 |
|  |  | **4434613** |
| **Pharmaceuticals, Biotechnology & Life Sciences — 6.3%** | **Pharmaceuticals, Biotechnology & Life Sciences — 6.3%** | **Pharmaceuticals, Biotechnology & Life Sciences — 6.3%** |
| Bristol-Myers Squibb Co. | 24721 | 1166337 |
| Danaher Corp. | 11098 | 2284190 |
| Johnson & Johnson | 41538 | 7359288 |
|  |  | **10809815** |
| **Semiconductors & Semiconductor Equipment — 1.0%** | **Semiconductors & Semiconductor Equipment — 1.0%** | **Semiconductors & Semiconductor Equipment — 1.0%** |
| Applied Materials, Inc. | 11003 | **1768842** |
| **Software & Services — 2.2%** | **Software & Services — 2.2%** | **Software & Services — 2.2%** |
| Dolby Laboratories, Inc., Cl. A | 30688 | 2199716 |
| International Business Machines Corp. | 6403 | 1559066 |
|  |  | **3758782** |
| **Technology Hardware & Equipment — 5.4%** | **Technology Hardware & Equipment — 5.4%** | **Technology Hardware & Equipment — 5.4%** |
| Cisco Systems, Inc. | 95355 | 6588077 |
| TE Connectivity PLC | 12572 | 2596118 |
|  |  | **9184195** |
| **Telecommunication Services — 4.0%** | **Telecommunication Services — 4.0%** | **Telecommunication Services — 4.0%** |
| AT&T, Inc. | 231501 | **6780664** |
| **Transportation — 3.0%** | **Transportation — 3.0%** | **Transportation — 3.0%** |
| CSX Corp. | 99955 | 3249537 |
| Delta Air Lines, Inc. | 30947 | 1911906 |
|  |  | **5161443** |
| **Utilities — .7%** | **Utilities — .7%** | **Utilities — .7%** |
| Constellation Energy Corp. | 4037 | **1243315** |
| **Total Common Stocks** <br>(cost $134,771,164)<br>|  | **165099107** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**3**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **BNY Mellon Income Stock Fund (continued)** | **BNY Mellon Income Stock Fund (continued)** | **BNY Mellon Income Stock Fund (continued)** | **BNY Mellon Income Stock Fund (continued)** |
| Description | 1-Day <br>Yield (%)<br>| Shares | Value ($) |
| **Investment Companies — 3.3%** | **Investment Companies — 3.3%** | **Investment Companies — 3.3%** | **Investment Companies — 3.3%** |
| **Registered Investment Companies — 3.3%** | **Registered Investment Companies — 3.3%** | **Registered Investment Companies — 3.3%** | **Registered Investment Companies — 3.3%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(b)</sup> <br>(cost $5,565,886)<br>| 4.41 | 5565886 | **5565886** |
| **Total Investments** (cost $140,337,050) | **Total Investments** (cost $140,337,050) | **99.8%** | **170664993** |
| **Cash and Receivables (Net)** | **Cash and Receivables (Net)** | **.2%** | **401868** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **171066861** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Investment in real estate investment trust within the United States. <br> <sup>(b)</sup> Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BNY Mellon Income Stock Fund** | **BNY Mellon Income Stock Fund** | **BNY Mellon Income Stock Fund** | **BNY Mellon Income Stock Fund** | **BNY Mellon Income Stock Fund** | **BNY Mellon Income Stock Fund** |
| **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** |
| Description | Value ($) <br>8/31/2024<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>8/31/2025<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - 3.3%** | **Registered Investment Companies - 3.3%** | **Registered Investment Companies - 3.3%** | **Registered Investment Companies - 3.3%** | **Registered Investment Companies - 3.3%** | **Registered Investment Companies - 3.3%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - 3.3%<br>| 8175113 | 81297627 | (83906854) | 5565886 | 290897 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>†</sup> Includes reinvested dividends/distributions.

See notes to financial statements.

**4**

------

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund** | **BNY Mellon Mid Cap Multi-Strategy Fund** | **BNY Mellon Mid Cap Multi-Strategy Fund** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9%** | **Common Stocks — 95.9%** | **Common Stocks — 95.9%** |
| **Automobiles & Components — 1.1%** | **Automobiles & Components — 1.1%** | **Automobiles & Components — 1.1%** |
| BorgWarner, Inc. | 9390 | 401517 |
| Ford Motor Co. | 33625 | 395766 |
| Gentex Corp. | 45133 | 1264175 |
| Harley-Davidson, Inc. | 12335 | 359195 |
| Modine Manufacturing Co.<sup>(a)</sup> <br>| 14115 | 1921475 |
| QuantumScape Corp.<sup>(a),(b)</sup> <br>| 14425 | 114390 |
| Rivian Automotive, Inc., Cl. A<sup>(a),(b)</sup> <br>| 12700 | 172339 |
| Thor Industries, Inc. | 4553 | 499009 |
| Visteon Corp. | 17940 | 2223843 |
|  |  | **7351709** |
| **Banks — 2.9%** | **Banks — 2.9%** | **Banks — 2.9%** |
| Columbia Banking System, Inc. | 46254 | 1238220 |
| East West Bancorp, Inc. | 15742 | 1655114 |
| Fifth Third Bancorp | 32188 | 1473245 |
| First Horizon Corp. | 101902 | 2302985 |
| FNB Corp. | 19910 | 332298 |
| Huntington Bancshares, Inc. | 87880 | 1565143 |
| M&T Bank Corp. | 1023 | 206298 |
| Old National Bancorp | 60680 | 1388965 |
| Popular, Inc. | 10350 | 1300374 |
| Regions Financial Corp. | 43455 | 1190232 |
| SouthState Corp. | 19156 | 1955061 |
| Synovus Financial Corp. | 11195 | 577774 |
| Texas Capital Bancshares, Inc.<sup>(a)</sup> <br>| 24540 | 2124428 |
| Webster Financial Corp. | 7937 | 493840 |
| Wintrust Financial Corp. | 7441 | 1021575 |
| Zions Bancorp NA | 11000 | 638110 |
|  |  | **19463662** |
| **Capital Goods — 16.1%** | **Capital Goods — 16.1%** | **Capital Goods — 16.1%** |
| 3M Co. | 4128 | 642028 |
| AAON, Inc.<sup>(b)</sup> <br>| 335 | 27788 |
| Advanced Drainage Systems, Inc. | 15733 | 2265080 |
| AECOM | 19535 | 2439726 |
| AeroVironment, Inc.<sup>(a)</sup> <br>| 8131 | 1962417 |
| AGCO Corp. | 100 | 10819 |
| Allegion PLC | 13626 | 2313695 |
| AMETEK, Inc. | 23992 | 4433722 |
| API Group Corp.<sup>(a)</sup> <br>| 18150 | 647592 |
| Axon Enterprise, Inc.<sup>(a)</sup> <br>| 10173 | 7602181 |
| Builders FirstSource, Inc.<sup>(a)</sup> <br>| 5149 | 714063 |
| BWX Technologies, Inc. | 400 | 64816 |
| Carlisle Cos., Inc. | 3836 | 1480274 |
| Carrier Global Corp. | 22824 | 1488125 |
| Comfort Systems USA, Inc. | 229 | 161074 |
| Cummins, Inc. | 3177 | 1265844 |
| Curtiss-Wright Corp. | 8428 | 4029848 |

---

**5**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Capital Goods — 16.1% (continued)** | **Capital Goods — 16.1% (continued)** | **Capital Goods — 16.1% (continued)** |
| DNOW, Inc.<sup>(a)</sup> <br>| 11293 | 180688 |
| Donaldson Co., Inc. | 7805 | 621824 |
| Dover Corp. | 2569 | 459491 |
| Everus Construction Group, Inc.<sup>(a)</sup> <br>| 2183 | 171235 |
| Fastenal Co. | 29770 | 1478378 |
| Ferguson Enterprises, Inc. | 12166 | 2812171 |
| Flowserve Corp. | 34415 | 1846709 |
| Fortune Brands Innovations, Inc. | 11612 | 679534 |
| FTAI Aviation Ltd. | 11841 | 1821738 |
| Generac Holdings, Inc.<sup>(a)</sup> <br>| 7800 | 1444950 |
| HEICO Corp., Cl. A | 19656 | 4815917 |
| Hexcel Corp. | 4405 | 278176 |
| Howmet Aerospace, Inc. | 24443 | 4255526 |
| Hubbell, Inc. | 8093 | 3488002 |
| Huntington Ingalls Industries, Inc. | 1082 | 292995 |
| IDEX Corp. | 15843 | 2606174 |
| Ingersoll Rand, Inc. | 51417 | 4084052 |
| ITT, Inc. | 2138 | 363995 |
| Johnson Controls International PLC | 4719 | 504414 |
| Karman Holdings, Inc.<sup>(a)</sup> <br>| 43062 | 2299941 |
| L3Harris Technologies, Inc. | 4346 | 1206537 |
| Lincoln Electric Holdings, Inc. | 5911 | 1434186 |
| Masco Corp. | 58151 | 4267702 |
| MasTec, Inc.<sup>(a)</sup> <br>| 2231 | 405350 |
| Masterbrand, Inc.<sup>(a)</sup> <br>| 21119 | 268422 |
| MRC Global, Inc.<sup>(a)</sup> <br>| 10502 | 158370 |
| MSC Industrial Direct Co., Inc., Cl. A | 5420 | 489047 |
| Nordson Corp. | 3647 | 820903 |
| nVent Electric PLC | 10390 | 939152 |
| Owens Corning | 4837 | 726372 |
| Parker-Hannifin Corp. | 644 | 489021 |
| Quanta Services, Inc. | 7033 | 2658193 |
| QXO, Inc.<sup>(a)</sup> <br>| 56519 | 1137727 |
| Regal Rexnord Corp. | 14210 | 2121979 |
| Resideo Technologies, Inc.<sup>(a)</sup> <br>| 18459 | 628529 |
| Rocket Lab Corp.<sup>(a),(b)</sup> <br>| 6900 | 335340 |
| Rockwell Automation, Inc. | 3561 | 1222954 |
| Sensata Technologies Holding PLC | 225 | 7322 |
| Snap-on, Inc. | 2645 | 860260 |
| Spirit AeroSystems Holdings, Inc., Cl. A<sup>(a)</sup> <br>| 1485 | 61761 |
| Textron, Inc. | 24540 | 1967126 |
| The Timken Company | 37258 | 2877435 |
| UFP Industries, Inc. | 5696 | 575125 |
| United Rentals, Inc. | 2475 | 2366942 |
| Valmont Industries, Inc. | 518 | 190168 |
| Vertiv Holdings Co., Cl. A | 31296 | 3991805 |
| W.W. Grainger, Inc. | 1352 | 1370252 |
| Watsco, Inc.<sup>(b)</sup> <br>| 5337 | 2147502 |
| Watts Water Technologies, Inc., Cl. A | 2787 | 771720 |
| WESCO International, Inc. | 10295 | 2263253 |

---

**6**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Capital Goods — 16.1% (continued)** | **Capital Goods — 16.1% (continued)** | **Capital Goods — 16.1% (continued)** |
| Westinghouse Air Brake Technologies Corp. | 7351 | 1422419 |
| WillScot Holdings Corp. | 2615 | 63388 |
| Woodward, Inc. | 3915 | 966300 |
| Xylem, Inc. | 10059 | 1423952 |
|  |  | **108691516** |
| **Commercial & Professional Services — 4.4%** | **Commercial & Professional Services — 4.4%** | **Commercial & Professional Services — 4.4%** |
| Amentum Holdings, Inc.<sup>(a),(b)</sup> <br>| 5576 | 139121 |
| Booz Allen Hamilton Holding Corp. | 1172 | 127420 |
| Broadridge Financial Solutions, Inc. | 15486 | 3958531 |
| CACI International, Inc., Cl. A<sup>(a)</sup> <br>| 4849 | 2326162 |
| Clarivate PLC<sup>(a)</sup> <br>| 15815 | 68795 |
| Clean Harbors, Inc.<sup>(a)</sup> <br>| 7422 | 1797683 |
| Copart, Inc.<sup>(a)</sup> <br>| 65534 | 3198715 |
| Equifax, Inc. | 12650 | 3115695 |
| Jacobs Solutions, Inc. | 4114 | 601590 |
| Leidos Holdings, Inc. | 4841 | 875834 |
| Paychex, Inc. | 11348 | 1582535 |
| Paycom Software, Inc. | 870 | 197620 |
| RB Global, Inc. | 12451 | 1426138 |
| Rollins, Inc. | 60238 | 3405856 |
| Science Applications International Corp. | 567 | 66736 |
| SS&C Technologies Holdings, Inc. | 18827 | 1669202 |
| Tetra Tech, Inc. | 9795 | 356734 |
| TriNet Group, Inc. | 2978 | 215667 |
| Veralto Corp. | 3488 | 370391 |
| Verisk Analytics, Inc. | 16897 | 4530424 |
|  |  | **30030849** |
| **Consumer Discretionary Distribution & Retail — 5.1%** | **Consumer Discretionary Distribution & Retail — 5.1%** | **Consumer Discretionary Distribution & Retail — 5.1%** |
| Advance Auto Parts, Inc.<sup>(b)</sup> <br>| 1400 | 85386 |
| AutoZone, Inc.<sup>(a)</sup> <br>| 416 | 1746589 |
| Bath & Body Works, Inc. | 11725 | 342487 |
| Best Buy Co., Inc. | 8330 | 613421 |
| Burlington Stores, Inc.<sup>(a)</sup> <br>| 19309 | 5612740 |
| CarMax, Inc.<sup>(a)</sup> <br>| 5885 | 361045 |
| Carvana Co.<sup>(a)</sup> <br>| 2329 | 866202 |
| Chewy, Inc., Cl. A<sup>(a)</sup> <br>| 40094 | 1642250 |
| Coupang, Inc.<sup>(a)</sup> <br>| 22385 | 639763 |
| eBay, Inc. | 22310 | 2021509 |
| Etsy, Inc.<sup>(a)</sup> <br>| 4178 | 221476 |
| Five Below, Inc.<sup>(a)</sup> <br>| 1770 | 256827 |
| Floor & Decor Holdings, Inc., Cl. A<sup>(a)</sup> <br>| 1148 | 94044 |
| Genuine Parts Co. | 5086 | 708632 |
| Lithia Motors, Inc. | 152 | 51175 |
| LKQ Corp. | 16471 | 537284 |
| Macy's, Inc. | 8145 | 107758 |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(a)</sup> <br>| 2825 | 358323 |
| O'Reilly Automotive, Inc.<sup>(a)</sup> <br>| 43165 | 4475347 |
| Pool Corp. | 6110 | 1898438 |
| RH<sup>(a)</sup> <br>| 4780 | 1078703 |
| Ross Stores, Inc. | 8229 | 1210980 |

---

**7**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Consumer Discretionary Distribution & Retail — 5.1% (continued)** | **Consumer Discretionary Distribution & Retail — 5.1% (continued)** | **Consumer Discretionary Distribution & Retail — 5.1% (continued)** |
| The Gap, Inc. | 74689 | 1643905 |
| Tractor Supply Co. | 19485 | 1203394 |
| Ulta Beauty, Inc.<sup>(a)</sup> <br>| 3379 | 1664935 |
| Valvoline, Inc.<sup>(a),(b)</sup> <br>| 25170 | 976093 |
| Warby Parker, Inc., Cl. A<sup>(a)</sup> <br>| 84352 | 2210022 |
| Wayfair, Inc., Cl. A<sup>(a)</sup> <br>| 1460 | 108916 |
| Williams-Sonoma, Inc. | 8414 | 1583431 |
|  |  | **34321075** |
| **Consumer Durables & Apparel — 3.0%** | **Consumer Durables & Apparel — 3.0%** | **Consumer Durables & Apparel — 3.0%** |
| Amer Sports, Inc.<sup>(a)</sup> <br>| 37987 | 1493649 |
| Brunswick Corp. | 35827 | 2278239 |
| Capri Holdings Ltd.<sup>(a)</sup> <br>| 4540 | 93479 |
| Cavco Industries, Inc.<sup>(a)</sup> <br>| 949 | 503435 |
| Crocs, Inc.<sup>(a)</sup> <br>| 2938 | 256194 |
| D.R. Horton, Inc. | 16007 | 2712866 |
| Deckers Outdoor Corp.<sup>(a)</sup> <br>| 2437 | 291538 |
| Garmin Ltd. | 1646 | 398036 |
| Hasbro, Inc. | 24523 | 1990532 |
| Lululemon Athletica, Inc.<sup>(a)</sup> <br>| 1954 | 395099 |
| NVR, Inc.<sup>(a)</sup> <br>| 241 | 1956354 |
| Polaris, Inc.<sup>(b)</sup> <br>| 2760 | 156161 |
| PulteGroup, Inc. | 10517 | 1388454 |
| PVH Corp. | 3236 | 272859 |
| Ralph Lauren Corp. | 2200 | 653246 |
| Skechers USA, Inc., Cl. A<sup>(a)</sup> <br>| 17414 | 1098475 |
| Somnigroup International, Inc. | 15751 | 1322296 |
| Tapestry, Inc. | 9245 | 941326 |
| Toll Brothers, Inc. | 6480 | 900720 |
| TopBuild Corp.<sup>(a)</sup> <br>| 2108 | 886962 |
| VF Corp. | 6735 | 101900 |
|  |  | **20091820** |
| **Consumer Services — 3.5%** | **Consumer Services — 3.5%** | **Consumer Services — 3.5%** |
| Aramark | 27126 | 1060898 |
| Boyd Gaming Corp. | 8821 | 757371 |
| Caesars Entertainment, Inc.<sup>(a)</sup> <br>| 2745 | 73484 |
| Carnival Corp.<sup>(a)</sup> <br>| 25440 | 811282 |
| Cava Group, Inc.<sup>(a)</sup> <br>| 1941 | 131115 |
| Churchill Downs, Inc. | 3855 | 399879 |
| Darden Restaurants, Inc. | 6663 | 1378841 |
| Domino's Pizza, Inc. | 382 | 175071 |
| DraftKings, Inc., Cl. A<sup>(a)</sup> <br>| 10880 | 522022 |
| Duolingo, Inc.<sup>(a)</sup> <br>| 811 | 241564 |
| Dutch Bros, Inc., Cl. A<sup>(a)</sup> <br>| 2820 | 202561 |
| Expedia Group, Inc. | 11160 | 2397168 |
| Flutter Entertainment PLC<sup>(a)</sup> <br>| 1662 | 510517 |
| Frontdoor, Inc.<sup>(a)</sup> <br>| 13463 | 817877 |
| Grand Canyon Education, Inc.<sup>(a)</sup> <br>| 6813 | 1373296 |
| H&R Block, Inc. | 15844 | 797745 |
| Hilton Worldwide Holdings, Inc. | 8559 | 2362798 |
| Hyatt Hotels Corp., Cl. A | 3080 | 444382 |

---

**8**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Consumer Services — 3.5% (continued)** | **Consumer Services — 3.5% (continued)** | **Consumer Services — 3.5% (continued)** |
| Las Vegas Sands Corp. | 27631 | 1592374 |
| Marriott International, Inc., Cl. A | 1540 | 412504 |
| MGM Resorts International<sup>(a)</sup> <br>| 13185 | 523313 |
| Norwegian Cruise Line Holdings Ltd.<sup>(a)</sup> <br>| 13425 | 333477 |
| Planet Fitness, Inc., Cl. A<sup>(a)</sup> <br>| 18895 | 1980196 |
| Royal Caribbean Cruises Ltd. | 6147 | 2232713 |
| Service Corp. International | 7915 | 627264 |
| Travel + Leisure Co. | 1960 | 123892 |
| Wingstop, Inc.<sup>(b)</sup> <br>| 524 | 171935 |
| Wyndham Hotels & Resorts, Inc.<sup>(b)</sup> <br>| 11305 | 979126 |
| Wynn Resorts Ltd.<sup>(b)</sup> <br>| 1235 | 156536 |
| Yum! Brands, Inc. | 2431 | 357284 |
|  |  | **23948485** |
| **Consumer Staples Distribution & Retail — 1.3%** | **Consumer Staples Distribution & Retail — 1.3%** | **Consumer Staples Distribution & Retail — 1.3%** |
| BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> <br>| 1960 | 191453 |
| Casey's General Stores, Inc. | 4241 | 2097259 |
| Dollar General Corp. | 4910 | 534012 |
| Dollar Tree, Inc.<sup>(a)</sup> <br>| 5742 | 626854 |
| Maplebear, Inc.<sup>(a)</sup> <br>| 18670 | 809718 |
| Sysco Corp. | 14227 | 1144847 |
| The Kroger Company | 22040 | 1495193 |
| US Foods Holding Corp.<sup>(a)</sup> <br>| 25850 | 2005960 |
|  |  | **8905296** |
| **Energy — 3.8%** | **Energy — 3.8%** | **Energy — 3.8%** |
| Antero Resources Corp.<sup>(a)</sup> <br>| 46929 | 1497974 |
| APA Corp.<sup>(b)</sup> <br>| 12250 | 284445 |
| Baker Hughes Co. | 30275 | 1374485 |
| Cheniere Energy, Inc. | 7183 | 1736993 |
| Chevron Corp. | 9320 | 1496792 |
| Chord Energy Corp. | 6018 | 661318 |
| Civitas Resources, Inc. | 7745 | 284861 |
| Devon Energy Corp. | 32778 | 1183286 |
| Diamondback Energy, Inc. | 26047 | 3874752 |
| DT Midstream, Inc. | 5525 | 575595 |
| EQT Corp. | 29988 | 1554578 |
| Halliburton Co. | 18680 | 424596 |
| Kinder Morgan, Inc. | 22235 | 599900 |
| Marathon Petroleum Corp. | 6782 | 1218793 |
| Occidental Petroleum Corp. | 4140 | 197105 |
| ONEOK, Inc. | 23385 | 1786146 |
| Ovintiv, Inc. | 3285 | 138364 |
| Permian Resources Corp. | 49415 | 706140 |
| Phillips 66 | 5284 | 705837 |
| Range Resources Corp. | 21492 | 736531 |
| Targa Resources Corp. | 7881 | 1322117 |
| TechnipFMC PLC | 28829 | 1059754 |
| The Williams Companies, Inc. | 3095 | 179139 |
| Valero Energy Corp. | 13712 | 2084361 |
| Weatherford International PLC | 1045 | 66572 |
|  |  | **25750434** |

---

**9**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Equity Real Estate Investment Trusts — 4.6%** | **Equity Real Estate Investment Trusts — 4.6%** | **Equity Real Estate Investment Trusts — 4.6%** |
| Agree Realty Corp.<sup>(c)</sup> <br>| 2340 | 170212 |
| AvalonBay Communities, Inc.<sup>(c)</sup> <br>| 700 | 137095 |
| Brixmor Property Group, Inc.<sup>(c)</sup> <br>| 37680 | 1054663 |
| BXP, Inc.<sup>(c)</sup> <br>| 10761 | 780280 |
| Camden Property Trust<sup>(c)</sup> <br>| 7773 | 870421 |
| Crown Castle, Inc.<sup>(c)</sup> <br>| 4165 | 412918 |
| CubeSmart<sup>(c)</sup> <br>| 13560 | 554875 |
| Digital Realty Trust, Inc.<sup>(c)</sup> <br>| 15152 | 2540081 |
| EastGroup Properties, Inc.<sup>(c)</sup> <br>| 3700 | 627372 |
| Equity LifeStyle Properties, Inc.<sup>(c)</sup> <br>| 25715 | 1550357 |
| Equity Residential<sup>(c)</sup> <br>| 7473 | 494115 |
| Essex Property Trust, Inc.<sup>(c)</sup> <br>| 3777 | 1020583 |
| Extra Space Storage, Inc.<sup>(c)</sup> <br>| 14946 | 2145947 |
| Federal Realty Investment Trust<sup>(c)</sup> <br>| 15316 | 1540024 |
| Healthpeak Properties, Inc.<sup>(c)</sup> <br>| 88449 | 1586775 |
| Host Hotels & Resorts, Inc.<sup>(c)</sup> <br>| 33779 | 581337 |
| Iron Mountain, Inc.<sup>(c)</sup> <br>| 6610 | 610301 |
| Kimco Realty Corp.<sup>(c)</sup> <br>| 32454 | 729890 |
| Lamar Advertising Co., Cl. A<sup>(b),(c)</sup> <br>| 11398 | 1450395 |
| Lineage, Inc.<sup>(c)</sup> <br>| 23628 | 990249 |
| Medical Properties Trust, Inc.<sup>(b),(c)</sup> <br>| 23305 | 104873 |
| Mid-America Apartment Communities, Inc.<sup>(c)</sup> <br>| 2179 | 317742 |
| Omega Healthcare Investors, Inc.<sup>(c)</sup> <br>| 6270 | 266914 |
| Rayonier, Inc.<sup>(c)</sup> <br>| 22301 | 586070 |
| Realty Income Corp.<sup>(c)</sup> <br>| 24530 | 1441383 |
| Regency Centers Corp.<sup>(c)</sup> <br>| 17232 | 1249320 |
| Simon Property Group, Inc.<sup>(c)</sup> <br>| 13957 | 2521472 |
| UDR, Inc.<sup>(c)</sup> <br>| 5790 | 229110 |
| Ventas, Inc.<sup>(c)</sup> <br>| 5545 | 377504 |
| VICI Properties, Inc.<sup>(c)</sup> <br>| 57922 | 1956605 |
| Weyerhaeuser Co.<sup>(c)</sup> <br>| 74503 | 1927393 |
|  |  | **30826276** |
| **Financial Services — 8.3%** | **Financial Services — 8.3%** | **Financial Services — 8.3%** |
| Affiliated Managers Group, Inc. | 3556 | 799460 |
| Affirm Holdings, Inc.<sup>(a)</sup> <br>| 5560 | 491838 |
| Ally Financial, Inc. | 13470 | 552943 |
| Ameriprise Financial, Inc. | 7707 | 3967641 |
| Ares Management Corp., Cl. A | 1075 | 192640 |
| Block, Inc.<sup>(a)</sup> <br>| 40633 | 3236012 |
| Blue Owl Capital, Inc. | 12475 | 231037 |
| Cboe Global Markets, Inc. | 1028 | 242557 |
| Coinbase Global, Inc., Cl. A<sup>(a)</sup> <br>| 4462 | 1358857 |
| Corpay, Inc.<sup>(a)</sup> <br>| 1295 | 421743 |
| Credit Acceptance Corp.<sup>(a)</sup> <br>| 291 | 149786 |
| Equitable Holdings, Inc. | 23138 | 1232330 |
| Evercore, Inc., Cl. A | 6954 | 2236059 |
| Fidelity National Information Services, Inc. | 25403 | 1773383 |
| Fiserv, Inc.<sup>(a)</sup> <br>| 17657 | 2439844 |
| Global Payments, Inc. | 5793 | 514534 |
| Houlihan Lokey, Inc. | 7871 | 1568297 |

---

**10**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Financial Services — 8.3% (continued)** | **Financial Services — 8.3% (continued)** | **Financial Services — 8.3% (continued)** |
| Intercontinental Exchange, Inc. | 14179 | 2504011 |
| Invesco Ltd. | 6410 | 140315 |
| Jack Henry & Associates, Inc. | 3804 | 621041 |
| Jefferies Financial Group, Inc. | 5100 | 330735 |
| LPL Financial Holdings, Inc. | 11456 | 4175483 |
| MGIC Investment Corp. | 36910 | 1027205 |
| Moelis & Co., Cl. A | 29789 | 2148085 |
| MSCI, Inc. | 2005 | 1138279 |
| Nasdaq, Inc. | 23157 | 2193894 |
| Northern Trust Corp. | 6380 | 837566 |
| Raymond James Financial, Inc. | 18327 | 3105327 |
| Robinhood Markets, Inc., Cl. A<sup>(a)</sup> <br>| 15825 | 1646275 |
| Rocket Cos., Inc., Cl. A<sup>(b)</sup> <br>| 244794 | 4349989 |
| Shift4 Payments, Inc., Cl. A<sup>(a),(b)</sup> <br>| 1180 | 106707 |
| SLM Corp. | 82085 | 2567619 |
| SoFi Technologies, Inc.<sup>(a),(b)</sup> <br>| 20280 | 517951 |
| Starwood Property Trust, Inc.<sup>(c)</sup> <br>| 4385 | 88884 |
| State Street Corp. | 7045 | 809964 |
| Stifel Financial Corp. | 7068 | 814870 |
| Synchrony Financial | 14005 | 1069142 |
| The Carlyle Group, Inc. | 19780 | 1276997 |
| Toast, Inc., Cl. A<sup>(a)</sup> <br>| 10970 | 494747 |
| Voya Financial, Inc. | 31115 | 2336425 |
| WEX, Inc.<sup>(a)</sup> <br>| 2683 | 459732 |
| XP, Inc., Cl. A | 9715 | 176230 |
|  |  | **56346434** |
| **Food, Beverage & Tobacco — 1.6%** | **Food, Beverage & Tobacco — 1.6%** | **Food, Beverage & Tobacco — 1.6%** |
| Archer-Daniels-Midland Co. | 4635 | 290336 |
| Brown-Forman Corp., Cl. B | 8157 | 244221 |
| Bunge Global SA | 6915 | 582381 |
| Celsius Holdings, Inc.<sup>(a)</sup> <br>| 6320 | 397402 |
| Coca-Cola Consolidated, Inc. | 5828 | 683275 |
| Coca-Cola Europacific Partners PLC | 5770 | 512722 |
| Conagra Brands, Inc. | 21596 | 413131 |
| Darling Ingredients, Inc.<sup>(a)</sup> <br>| 3925 | 133293 |
| Freshpet, Inc.<sup>(a)</sup> <br>| 10080 | 562666 |
| General Mills, Inc. | 1210 | 59689 |
| Ingredion, Inc. | 4980 | 645109 |
| Lamb Weston Holdings, Inc. | 13977 | 804097 |
| McCormick & Co., Inc. | 12040 | 847255 |
| Molson Coors Beverage Co., Cl. B | 26422 | 1334047 |
| Primo Brands Corp. | 19381 | 486657 |
| The Campbell's Company | 7150 | 228300 |
| The Hershey Company | 1590 | 292162 |
| The J.M. Smucker Company | 1779 | 196597 |
| Tyson Foods, Inc., Cl. A | 38616 | 2192616 |
|  |  | **10905956** |
| **Health Care Equipment & Services — 4.8%** | **Health Care Equipment & Services — 4.8%** | **Health Care Equipment & Services — 4.8%** |
| Align Technology, Inc.<sup>(a)</sup> <br>| 5525 | 784329 |
| Cardinal Health, Inc. | 1656 | 246380 |

---

**11**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Health Care Equipment & Services — 4.8% (continued)** | **Health Care Equipment & Services — 4.8% (continued)** | **Health Care Equipment & Services — 4.8% (continued)** |
| Cencora, Inc. | 10244 | 2987253 |
| Centene Corp.<sup>(a)</sup> <br>| 27352 | 794302 |
| DaVita, Inc.<sup>(a)</sup> <br>| 2093 | 288332 |
| DENTSPLY SIRONA, Inc. | 4180 | 59774 |
| DexCom, Inc.<sup>(a)</sup> <br>| 26798 | 2018961 |
| Encompass Health Corp. | 11914 | 1450649 |
| Envista Holdings Corp.<sup>(a)</sup> <br>| 1345 | 28487 |
| GE HealthCare Technologies, Inc. | 2595 | 191329 |
| Globus Medical, Inc., Cl. A<sup>(a)</sup> <br>| 24295 | 1488555 |
| HealthEquity, Inc.<sup>(a)</sup> <br>| 12725 | 1136724 |
| Henry Schein, Inc.<sup>(a),(b)</sup> <br>| 5500 | 382690 |
| Humana, Inc. | 1719 | 521992 |
| IDEXX Laboratories, Inc.<sup>(a)</sup> <br>| 7004 | 4532218 |
| Insulet Corp.<sup>(a)</sup> <br>| 2146 | 729382 |
| Labcorp Holdings, Inc. | 7844 | 2180554 |
| Masimo Corp.<sup>(a)</sup> <br>| 587 | 82010 |
| McKesson Corp. | 648 | 444943 |
| Molina Healthcare, Inc.<sup>(a)</sup> <br>| 1810 | 327302 |
| Penumbra, Inc.<sup>(a)</sup> <br>| 782 | 213204 |
| Quest Diagnostics, Inc. | 7282 | 1322703 |
| ResMed, Inc. | 4873 | 1337687 |
| Solventum Corp.<sup>(a)</sup> <br>| 12787 | 934602 |
| STERIS PLC | 12555 | 3076728 |
| Tenet Healthcare Corp.<sup>(a)</sup> <br>| 7100 | 1308743 |
| The Cooper Companies, Inc.<sup>(a)</sup> <br>| 19998 | 1347765 |
| Veeva Systems, Inc., Cl. A<sup>(a)</sup> <br>| 7160 | 1927472 |
| Zimmer Biomet Holdings, Inc. | 3823 | 405620 |
|  |  | **32550690** |
| **Household & Personal Products — 1.2%** | **Household & Personal Products — 1.2%** | **Household & Personal Products — 1.2%** |
| BellRing Brands, Inc.<sup>(a)</sup> <br>| 2765 | 113503 |
| Church & Dwight Co., Inc. | 31546 | 2938825 |
| Coty, Inc., Cl. A<sup>(a)</sup> <br>| 53695 | 229815 |
| e.l.f. Beauty, Inc.<sup>(a),(b)</sup> <br>| 1759 | 219875 |
| Kenvue, Inc. | 110183 | 2281890 |
| The Clorox Company | 2064 | 243965 |
| The Estee Lauder Companies, Inc., Cl. A | 20628 | 1892206 |
|  |  | **7920079** |
| **Insurance — 3.4%** | **Insurance — 3.4%** | **Insurance — 3.4%** |
| American Financial Group, Inc. | 906 | 123089 |
| Arch Capital Group Ltd. | 2549 | 233310 |
| Assurant, Inc. | 24456 | 5272958 |
| Assured Guaranty Ltd. | 10085 | 828987 |
| Brown & Brown, Inc. | 4827 | 467978 |
| Everest Group Ltd. | 2694 | 921025 |
| Fidelity National Financial, Inc. | 12795 | 766037 |
| First American Financial Corp. | 10479 | 691614 |
| Markel Group, Inc.<sup>(a)</sup> <br>| 1179 | 2309732 |
| Old Republic International Corp. | 38555 | 1541043 |
| Principal Financial Group, Inc. | 6045 | 486683 |
| Prudential Financial, Inc. | 851 | 93321 |

---

**12**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Insurance — 3.4% (continued)** | **Insurance — 3.4% (continued)** | **Insurance — 3.4% (continued)** |
| Reinsurance Group of America, Inc. | 4356 | 848505 |
| RenaissanceRe Holdings Ltd. | 7482 | 1818051 |
| Ryan Specialty Holdings, Inc. | 29525 | 1669048 |
| The Allstate Corp. | 1131 | 230102 |
| The Hartford Insurance Group, Inc. | 14970 | 1980681 |
| The Travelers Companies, Inc. | 2163 | 587276 |
| Unum Group | 8325 | 581584 |
| W. R. Berkley Corp. | 18988 | 1361250 |
|  |  | **22812274** |
| **Materials — 4.6%** | **Materials — 4.6%** | **Materials — 4.6%** |
| Albemarle Corp.<sup>(b)</sup> <br>| 4200 | 356664 |
| Anglogold Ashanti PLC | 8058 | 456566 |
| Ashland, Inc. | 9495 | 533144 |
| Avery Dennison Corp. | 7652 | 1313466 |
| Axalta Coating Systems Ltd.<sup>(a)</sup> <br>| 32125 | 1004227 |
| Ball Corp. | 17518 | 922148 |
| Celanese Corp. | 4406 | 209858 |
| CF Industries Holdings, Inc. | 13427 | 1163181 |
| Cleveland-Cliffs, Inc.<sup>(a)</sup> <br>| 19850 | 213387 |
| Commercial Metals Co. | 11037 | 636504 |
| Corteva, Inc. | 19690 | 1460801 |
| CRH PLC | 15018 | 1696283 |
| Crown Holdings, Inc. | 12492 | 1241455 |
| Dow, Inc. | 18805 | 463167 |
| DuPont de Nemours, Inc. | 10778 | 829044 |
| Eastman Chemical Co. | 5938 | 417679 |
| FMC Corp. | 5778 | 225920 |
| Freeport-McMoRan, Inc. | 33658 | 1494415 |
| International Paper Co. | 31890 | 1584295 |
| Louisiana-Pacific Corp. | 3436 | 326798 |
| LyondellBasell Industries NV, Cl. A | 3295 | 185673 |
| Martin Marietta Materials, Inc. | 2450 | 1510180 |
| MP Materials Corp.<sup>(a)</sup> <br>| 3105 | 220890 |
| Newmont Corp. | 29752 | 2213549 |
| Nucor Corp. | 1511 | 224731 |
| Olin Corp. | 7180 | 169879 |
| Packaging Corp. of America | 9612 | 2095032 |
| PPG Industries, Inc. | 423 | 47050 |
| Reliance, Inc. | 5704 | 1686445 |
| Royal Gold, Inc. | 2093 | 375861 |
| Sealed Air Corp. | 11820 | 383795 |
| Smurfit WestRock PLC | 3312 | 156856 |
| Sonoco Products Co. | 3850 | 181912 |
| Steel Dynamics, Inc. | 6642 | 869571 |
| The Mosaic Company | 45839 | 1531023 |
| The Scotts Miracle-Gro Company | 1780 | 108972 |
| Vulcan Materials Co. | 9600 | 2795136 |
|  |  | **31305557** |
| **Media & Entertainment — 2.1%** | **Media & Entertainment — 2.1%** | **Media & Entertainment — 2.1%** |
| Angi, Inc.<sup>(a)</sup> <br>| 5426 | 96149 |

---

**13**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Media & Entertainment — 2.1% (continued)** | **Media & Entertainment — 2.1% (continued)** | **Media & Entertainment — 2.1% (continued)** |
| Electronic Arts, Inc. | 3925 | 674904 |
| Fox Corp., Cl. A | 9080 | 542076 |
| IAC, Inc.<sup>(a)</sup> <br>| 10335 | 378468 |
| Liberty Broadband Corp., Cl. C<sup>(a)</sup> <br>| 4086 | 248674 |
| Liberty Media Corp.-Liberty Formula One, Cl. C<sup>(a)</sup> <br>| 21733 | 2171127 |
| Liberty Media Corp.-Liberty Live, Cl. C<sup>(a)</sup> <br>| 701 | 68263 |
| Live Nation Entertainment, Inc.<sup>(a)</sup> <br>| 1291 | 214939 |
| Match Group, Inc. | 13432 | 501551 |
| News Corp., Cl. A | 15555 | 457472 |
| Nexstar Media Group, Inc. | 2490 | 509280 |
| Omnicom Group, Inc.<sup>(b)</sup> <br>| 21809 | 1708299 |
| Pinterest, Inc., Cl. A<sup>(a)</sup> <br>| 49946 | 1829522 |
| Reddit, Inc., Cl. A<sup>(a)</sup> <br>| 2091 | 470642 |
| ROBLOX Corp., Cl. A<sup>(a)</sup> <br>| 11780 | 1467670 |
| Roku, Inc.<sup>(a)</sup> <br>| 2170 | 209535 |
| Sirius XM Holdings, Inc.<sup>(b)</sup> <br>| 8121 | 191980 |
| Take-Two Interactive Software, Inc.<sup>(a)</sup> <br>| 4394 | 1024988 |
| The Interpublic Group of Companies, Inc. | 23215 | 623091 |
| The Trade Desk, Inc., Cl. A<sup>(a)</sup> <br>| 9345 | 510798 |
| Warner Bros Discovery, Inc.<sup>(a)</sup> <br>| 48614 | 565867 |
| ZoomInfo Technologies, Inc.<sup>(a)</sup> <br>| 1310 | 14279 |
|  |  | **14479574** |
| **Pharmaceuticals, Biotechnology & Life Sciences — 4.3%** | **Pharmaceuticals, Biotechnology & Life Sciences — 4.3%** | **Pharmaceuticals, Biotechnology & Life Sciences — 4.3%** |
| Agilent Technologies, Inc. | 10264 | 1289774 |
| Alnylam Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 3415 | 1524832 |
| Ascendis Pharma A/S, ADR<sup>(a)</sup> <br>| 2736 | 531523 |
| Avantor, Inc.<sup>(a)</sup> <br>| 10475 | 141098 |
| Biogen, Inc.<sup>(a)</sup> <br>| 1078 | 142533 |
| BioMarin Pharmaceutical, Inc.<sup>(a)</sup> <br>| 3424 | 199517 |
| BioNTech SE, ADR<sup>(a)</sup> <br>| 16875 | 1687500 |
| Bio-Techne Corp. | 46280 | 2528276 |
| Bridgebio Pharma, Inc.<sup>(a)</sup> <br>| 16163 | 836597 |
| Charles River Laboratories International, Inc.<sup>(a)</sup> <br>| 4338 | 708439 |
| Elanco Animal Health, Inc.<sup>(a)</sup> <br>| 130226 | 2389647 |
| Exact Sciences Corp.<sup>(a)</sup> <br>| 4320 | 204854 |
| Exelixis, Inc.<sup>(a)</sup> <br>| 2110 | 78956 |
| GRAIL, Inc.<sup>(a),(b)</sup> <br>| 2400 | 78696 |
| ICON PLC<sup>(a)</sup> <br>| 588 | 104629 |
| Illumina, Inc.<sup>(a)</sup> <br>| 20589 | 2058076 |
| Incyte Corp.<sup>(a)</sup> <br>| 6160 | 521198 |
| Insmed, Inc.<sup>(a)</sup> <br>| 2810 | 382441 |
| Ionis Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 7550 | 321894 |
| IQVIA Holdings, Inc.<sup>(a)</sup> <br>| 6244 | 1191418 |
| Mettler-Toledo International, Inc.<sup>(a)</sup> <br>| 2304 | 2997596 |
| Moderna, Inc.<sup>(a),(b)</sup> <br>| 10595 | 255234 |
| Natera, Inc.<sup>(a)</sup> <br>| 8765 | 1474711 |
| Neurocrine Biosciences, Inc.<sup>(a)</sup> <br>| 3208 | 447837 |
| NewAmsterdam Pharma Co. NV<sup>(a)</sup> <br>| 11923 | 286748 |
| Organon & Co. | 9820 | 92504 |
| QIAGEN NV<sup>(b)</sup> <br>| 20461 | 951437 |

---

**14**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Pharmaceuticals, Biotechnology & Life Sciences — 4.3% (continued)** | **Pharmaceuticals, Biotechnology & Life Sciences — 4.3% (continued)** | **Pharmaceuticals, Biotechnology & Life Sciences — 4.3% (continued)** |
| Repligen Corp.<sup>(a)</sup> <br>| 27903 | 3413095 |
| Roivant Sciences Ltd.<sup>(a)</sup> <br>| 7445 | 88819 |
| Sarepta Therapeutics, Inc.<sup>(a)</sup> <br>| 8032 | 146182 |
| Tempus AI, Inc.<sup>(a),(b)</sup> <br>| 1753 | 132983 |
| United Therapeutics Corp.<sup>(a)</sup> <br>| 491 | 149637 |
| Viatris, Inc. | 24084 | 254086 |
| Viking Therapeutics, Inc.<sup>(a),(b)</sup> <br>| 3880 | 104954 |
| Waters Corp.<sup>(a)</sup> <br>| 2153 | 649775 |
| West Pharmaceutical Services, Inc. | 1795 | 443275 |
|  |  | **28810771** |
| **Real Estate Management & Development — 1.1%** | **Real Estate Management & Development — 1.1%** | **Real Estate Management & Development — 1.1%** |
| CBRE Group, Inc., Cl. A<sup>(a)</sup> <br>| 9654 | 1565107 |
| CoStar Group, Inc.<sup>(a)</sup> <br>| 64598 | 5780875 |
| Zillow Group, Inc., Cl. C<sup>(a)</sup> <br>| 2510 | 211618 |
|  |  | **7557600** |
| **Semiconductors & Semiconductor Equipment — 1.9%** | **Semiconductors & Semiconductor Equipment — 1.9%** | **Semiconductors & Semiconductor Equipment — 1.9%** |
| Astera Labs, Inc.<sup>(a)</sup> <br>| 3190 | 581218 |
| Cirrus Logic, Inc.<sup>(a)</sup> <br>| 412 | 47046 |
| Entegris, Inc. | 1714 | 143530 |
| First Solar, Inc.<sup>(a)</sup> <br>| 3091 | 603332 |
| MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup> <br>| 1171 | 150064 |
| Microchip Technology, Inc. | 31250 | 2031250 |
| Monolithic Power Systems, Inc. | 3501 | 2925996 |
| ON Semiconductor Corp.<sup>(a)</sup> <br>| 8470 | 420027 |
| Onto Innovation, Inc.<sup>(a)</sup> <br>| 11234 | 1190804 |
| Qorvo, Inc.<sup>(a)</sup> <br>| 2967 | 269107 |
| Rambus, Inc.<sup>(a)</sup> <br>| 49524 | 3653386 |
| Skyworks Solutions, Inc. | 9276 | 695143 |
| Teradyne, Inc. | 1399 | 165418 |
| Universal Display Corp. | 1141 | 158131 |
|  |  | **13034452** |
| **Software & Services — 6.4%** | **Software & Services — 6.4%** | **Software & Services — 6.4%** |
| Akamai Technologies, Inc.<sup>(a)</sup> <br>| 1778 | 140693 |
| AppLovin Corp., Cl. A<sup>(a)</sup> <br>| 410 | 196222 |
| Aurora Innovation, Inc.<sup>(a),(b)</sup> <br>| 18620 | 104831 |
| Bentley Systems, Inc., Cl. B | 39900 | 2220435 |
| BILL Holdings, Inc.<sup>(a)</sup> <br>| 2350 | 109087 |
| BlackLine, Inc.<sup>(a)</sup> <br>| 5836 | 317303 |
| Cadence Design Systems, Inc.<sup>(a)</sup> <br>| 9843 | 3449282 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> <br>| 8770 | 1693838 |
| Cloudflare, Inc., Cl. A<sup>(a)</sup> <br>| 7080 | 1477667 |
| Cognizant Technology Solutions Corp., Cl. A | 18685 | 1349991 |
| Confluent, Inc., Cl. A<sup>(a)</sup> <br>| 7945 | 157788 |
| Datadog, Inc., Cl. A<sup>(a)</sup> <br>| 15350 | 2098038 |
| DocuSign, Inc.<sup>(a)</sup> <br>| 2850 | 218481 |
| Dolby Laboratories, Inc., Cl. A | 24456 | 1753006 |
| Dynatrace, Inc.<sup>(a)</sup> <br>| 10100 | 511060 |
| Elastic NV<sup>(a)</sup> <br>| 2375 | 202017 |
| EPAM Systems, Inc.<sup>(a)</sup> <br>| 7322 | 1291308 |
| Fair Isaac Corp.<sup>(a)</sup> <br>| 686 | 1043845 |

---

**15**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Software & Services — 6.4% (continued)** | **Software & Services — 6.4% (continued)** | **Software & Services — 6.4% (continued)** |
| Gartner, Inc.<sup>(a)</sup> <br>| 10518 | 2642016 |
| Gen Digital, Inc. | 25839 | 780338 |
| Gitlab, Inc., Cl. A<sup>(a),(b)</sup> <br>| 5635 | 270593 |
| Guidewire Software, Inc.<sup>(a)</sup> <br>| 3001 | 651277 |
| HubSpot, Inc.<sup>(a)</sup> <br>| 5618 | 2714449 |
| InterDigital, Inc. | 2612 | 709706 |
| Intuit, Inc. | 3069 | 2047023 |
| Kyndryl Holdings, Inc.<sup>(a)</sup> <br>| 12115 | 385136 |
| Manhattan Associates, Inc.<sup>(a)</sup> <br>| 1137 | 244955 |
| Monday.com Ltd.<sup>(a)</sup> <br>| 11266 | 2174338 |
| MongoDB, Inc.<sup>(a)</sup> <br>| 1631 | 514760 |
| Nutanix, Inc., Cl. A<sup>(a)</sup> <br>| 7170 | 481896 |
| Okta, Inc.<sup>(a)</sup> <br>| 4402 | 408373 |
| Palantir Technologies, Inc., Cl. A<sup>(a)</sup> <br>| 1880 | 294615 |
| PTC, Inc.<sup>(a)</sup> <br>| 744 | 158844 |
| RingCentral, Inc., Cl. A<sup>(a)</sup> <br>| 160 | 4882 |
| Roper Technologies, Inc. | 6984 | 3675749 |
| Rubrik, Inc., Cl. A<sup>(a)</sup> <br>| 890 | 79566 |
| SentinelOne, Inc., Cl. A<sup>(a)</sup> <br>| 12010 | 226509 |
| Twilio, Inc., Cl. A<sup>(a)</sup> <br>| 5240 | 553396 |
| Tyler Technologies, Inc.<sup>(a)</sup> <br>| 6096 | 3431316 |
| UiPath, Inc., Cl. A<sup>(a)</sup> <br>| 15100 | 167912 |
| Unity Software, Inc.<sup>(a)</sup> <br>| 6765 | 266609 |
| VeriSign, Inc. | 3134 | 856742 |
| Zoom Communications, Inc.<sup>(a)</sup> <br>| 2835 | 230826 |
| Zscaler, Inc.<sup>(a)</sup> <br>| 3571 | 989346 |
|  |  | **43296064** |
| **Technology Hardware & Equipment — 4.9%** | **Technology Hardware & Equipment — 4.9%** | **Technology Hardware & Equipment — 4.9%** |
| Amphenol Corp., Cl. A | 71451 | 7778156 |
| Arrow Electronics, Inc.<sup>(a)</sup> <br>| 4216 | 532607 |
| CDW Corp. | 10017 | 1650401 |
| Ciena Corp.<sup>(a)</sup> <br>| 1650 | 155050 |
| Cognex Corp. | 54665 | 2401980 |
| Coherent Corp.<sup>(a)</sup> <br>| 3340 | 302170 |
| Corning, Inc. | 7660 | 513450 |
| Dell Technologies, Inc., Cl. C | 4013 | 490188 |
| F5, Inc.<sup>(a)</sup> <br>| 2286 | 715838 |
| Flex Ltd.<sup>(a)</sup> <br>| 13616 | 730090 |
| Hewlett Packard Enterprise Co. | 24345 | 549467 |
| HP, Inc. | 2030 | 57936 |
| Jabil, Inc. | 7606 | 1557937 |
| Keysight Technologies, Inc.<sup>(a)</sup> <br>| 32532 | 5316705 |
| NetApp, Inc. | 17465 | 1969877 |
| Pure Storage, Inc., Cl. A<sup>(a)</sup> <br>| 11715 | 909201 |
| Ralliant Corp.<sup>(a)</sup> <br>| 1670 | 69823 |
| Sandisk Corp.<sup>(a)</sup> <br>| 2566 | 134638 |
| Seagate Technology Holdings PLC | 4173 | 698560 |
| Super Micro Computer, Inc.<sup>(a)</sup> <br>| 11316 | 470067 |
| TD Synnex Corp. | 705 | 104389 |
| TE Connectivity PLC | 3894 | 804111 |

---

**16**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Technology Hardware & Equipment — 4.9% (continued)** | **Technology Hardware & Equipment — 4.9% (continued)** | **Technology Hardware & Equipment — 4.9% (continued)** |
| Trimble, Inc.<sup>(a)</sup> <br>| 19549 | 1579950 |
| Ubiquiti, Inc. | 168 | 88726 |
| Western Digital Corp. | 4980 | 400093 |
| Zebra Technologies Corp., Cl. A<sup>(a)</sup> <br>| 10230 | 3243831 |
|  |  | **33225241** |
| **Telecommunication Services — .0%** | **Telecommunication Services — .0%** | **Telecommunication Services — .0%** |
| AST SpaceMobile, Inc.<sup>(a),(b)</sup> <br>| 4565 | 223411 |
| GCI Liberty, Inc. (Escrow Share)<sup>(a)</sup> <br>| 9830 | 8847 |
|  |  | **232258** |
| **Transportation — 1.7%** | **Transportation — 1.7%** | **Transportation — 1.7%** |
| Alaska Air Group, Inc.<sup>(a),(b)</sup> <br>| 4695 | 294752 |
| American Airlines Group, Inc.<sup>(a)</sup> <br>| 18735 | 250487 |
| Avis Budget Group, Inc.<sup>(a),(b)</sup> <br>| 305 | 48260 |
| Delta Air Lines, Inc. | 10790 | 666606 |
| Expeditors International of Washington, Inc. | 14092 | 1698650 |
| J.B. Hunt Transport Services, Inc. | 3988 | 578220 |
| Knight-Swift Transportation Holdings, Inc. | 48859 | 2144910 |
| Landstar System, Inc. | 7358 | 973684 |
| Lyft, Inc., Cl. A<sup>(a)</sup> <br>| 2155 | 34954 |
| Old Dominion Freight Line, Inc. | 15484 | 2337619 |
| Ryder System, Inc. | 5132 | 962353 |
| United Airlines Holdings, Inc.<sup>(a)</sup> <br>| 12040 | 1264200 |
| XPO, Inc.<sup>(a)</sup> <br>| 735 | 95330 |
|  |  | **11350025** |
| **Utilities — 3.8%** | **Utilities — 3.8%** | **Utilities — 3.8%** |
| Ameren Corp. | 8395 | 837653 |
| American Water Works Co., Inc. | 10270 | 1473848 |
| Brookfield Renewable Corp. | 4750 | 160075 |
| CenterPoint Energy, Inc. | 20585 | 776260 |
| CMS Energy Corp. | 14135 | 1011642 |
| Constellation Energy Corp. | 4819 | 1484156 |
| Dominion Energy, Inc. | 36685 | 2197431 |
| DTE Energy Co. | 13428 | 1834936 |
| Edison International | 9030 | 506854 |
| Entergy Corp. | 21784 | 1918952 |
| Eversource Energy | 14845 | 951119 |
| Exelon Corp. | 57860 | 2527325 |
| FirstEnergy Corp. | 12192 | 531815 |
| MDU Resources Group, Inc. | 8735 | 142293 |
| NiSource, Inc. | 27275 | 1152914 |
| NRG Energy, Inc. | 8789 | 1279327 |
| OGE Energy Corp. | 17688 | 789946 |
| Pinnacle West Capital Corp. | 7635 | 682264 |
| Public Service Enterprise Group, Inc. | 5000 | 411650 |
| The AES Corp. | 20880 | 282715 |
| UGI Corp. | 4740 | 164194 |
| Vistra Corp. | 9278 | 1754563 |

---

**17**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** | **Common Stocks — 95.9% (continued)** |
| **Utilities — 3.8% (continued)** | **Utilities — 3.8% (continued)** | **Utilities — 3.8% (continued)** |
| WEC Energy Group, Inc. | 10185 | 1084804 |
| Xcel Energy, Inc. | 26435 | 1913630 |
|  |  | **25870366** |
| **Total Common Stocks** <br>(cost $298,395,184)<br>|  | **649078463** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Number of Rights |  |
| **Rights — .0%** | **Rights — .0%** | **Rights — .0%** |
| **Health Care Equipment & Services — .0%** | **Health Care Equipment & Services — .0%** | **Health Care Equipment & Services — .0%** |
| Abiomed, Inc., expiring 12/31/2049<sup>(d)</sup> <br>(cost $0)<br>| 40585 | **49108** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Exchange-Traded Funds — .7%** | **Exchange-Traded Funds — .7%** | **Exchange-Traded Funds — .7%** |
| **Registered Investment Companies — .7%** | **Registered Investment Companies — .7%** | **Registered Investment Companies — .7%** |
| iShares Russell Mid-Cap Growth ETF | 11223 | 1603879 |
| SPDR S&P MidCap 400 ETF Trust | 4909 | 2921640 |
| **Total Exchange-Traded Funds** <br>(cost $4,110,869)<br>|  | **4525519** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>|  |  |
| **Investment Companies — 3.4%** | **Investment Companies — 3.4%** | **Investment Companies — 3.4%** | **Investment Companies — 3.4%** |
| **Registered Investment Companies — 3.4%** | **Registered Investment Companies — 3.4%** | **Registered Investment Companies — 3.4%** | **Registered Investment Companies — 3.4%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(e)</sup> <br>(cost $23,376,103)<br>| 4.41 | 23376103 | **23376103** |
| **Investment of Cash Collateral for Securities Loaned — .2%** |  |  |  |
| **Registered Investment Companies — .2%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(e)</sup> <br>(cost $1,057,481)<br>| 4.41 | 1057481 | **1057481** |
| **Total Investments** (cost $326,939,637) | **Total Investments** (cost $326,939,637) | **100.2%** | **678086674** |
| **Liabilities, Less Cash and Receivables** | **Liabilities, Less Cash and Receivables** | **(.2%)** | **(1323205)** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **676763469** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

ADR—American Depositary Receipt <br> ETF—Exchange-Traded Fund <br> SPDR—Standard & Poor's Depository Receipt

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Security, or portion thereof, on loan. At August 31, 2025, the value of the fund's securities on loan was $7,477,669 and the value of the collateral was $7,663,121, consisting of cash collateral of $1,057,481 and U.S. Government & Agency securities valued at $6,605,640. In addition, the value of collateral may include pending sales that are also on loan. 

<sup>(c)</sup> Investment in real estate investment trust within the United States.

<sup>(d)</sup> The fund held Level 3 securities at August 31, 2025. These securities were valued at $49,108 or .0% of net assets.

<sup>(e)</sup> Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's prospectus. 

**18**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund** | **BNY Mellon Mid Cap Multi-Strategy Fund** | **BNY Mellon Mid Cap Multi-Strategy Fund** | **BNY Mellon Mid Cap Multi-Strategy Fund** | **BNY Mellon Mid Cap Multi-Strategy Fund** | **BNY Mellon Mid Cap Multi-Strategy Fund** |
| **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** |
| Description | Value ($) <br>8/31/2024<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>8/31/2025<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - 3.4%** | **Registered Investment Companies - 3.4%** | **Registered Investment Companies - 3.4%** | **Registered Investment Companies - 3.4%** | **Registered Investment Companies - 3.4%** | **Registered Investment Companies - 3.4%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - 3.4%<br>| 34883057 | 396294028 | (407800982) | 23376103 | 845834 |
| **Investment of Cash Collateral for Securities Loaned - .2%** | **Investment of Cash Collateral for Securities Loaned - .2%** | **Investment of Cash Collateral for Securities Loaned - .2%** | **Investment of Cash Collateral for Securities Loaned - .2%** | **Investment of Cash Collateral for Securities Loaned - .2%** | **Investment of Cash Collateral for Securities Loaned - .2%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .2%<br>| 17501861 | 168193688 | (184638068) | 1057481 | 60710 <br><sup>††</sup><br>|
| **Total - 3.6%** | **52384918** | **564487716** | **(592439050)** | **24433584** | **906544** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| Includes reinvested dividends/distributions. |
| <sup>††</sup> <br>| Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and <br> other payments to and from borrowers of securities.<br>|

---

See notes to financial statements.

**19**

------

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Small Cap Multi-Strategy Fund** | **BNY Mellon Small Cap Multi-Strategy Fund** | **BNY Mellon Small Cap Multi-Strategy Fund** |
| Description | Shares | Value ($) |
| **Common Stocks — 97.5%** | **Common Stocks — 97.5%** | **Common Stocks — 97.5%** |
| **Automobiles & Components — 2.7%** | **Automobiles & Components — 2.7%** | **Automobiles & Components — 2.7%** |
| Modine Manufacturing Co.<sup>(a)</sup> <br>| 16643 | 2265611 |
| Visteon Corp. | 25257 | 3130858 |
|  |  | **5396469** |
| **Banks — 11.4%** | **Banks — 11.4%** | **Banks — 11.4%** |
| Banc of California, Inc. | 89990 | 1522631 |
| BankUnited, Inc. | 35141 | 1377176 |
| Columbia Banking System, Inc. | 57479 | 1538713 |
| First Busey Corp. | 69301 | 1711735 |
| First Horizon Corp. | 111265 | 2514589 |
| First Merchants Corp. | 29709 | 1233518 |
| Metropolitan Bank Holding Corp. | 8451 | 670925 |
| Old National Bancorp | 73890 | 1691342 |
| Origin Bancorp, Inc. | 18307 | 711959 |
| Seacoast Banking Corp. of Florida | 37126 | 1154990 |
| Simmons First National Corp., Cl. A | 51542 | 1071043 |
| SouthState Corp. | 13301 | 1357500 |
| Stellar Bancorp, Inc. | 24082 | 744615 |
| Synovus Financial Corp. | 4124 | 212839 |
| Texas Capital Bancshares, Inc.<sup>(a)</sup> <br>| 44880 | 3885261 |
| UMB Financial Corp. | 4071 | 496255 |
| United Community Banks, Inc. | 20222 | 675415 |
|  |  | **22570506** |
| **Capital Goods — 16.2%** | **Capital Goods — 16.2%** | **Capital Goods — 16.2%** |
| AeroVironment, Inc.<sup>(a)</sup> <br>| 7088 | 1710689 |
| BWX Technologies, Inc. | 6563 | 1063468 |
| Construction Partners, Inc., Cl. A<sup>(a)</sup> <br>| 29954 | 3591485 |
| Curtiss-Wright Corp. | 5690 | 2720673 |
| Enerpac Tool Group Corp. | 4711 | 199464 |
| EnerSys | 1381 | 141760 |
| Enpro, Inc. | 4596 | 1005467 |
| Esab Corp. | 18868 | 2176801 |
| Flowserve Corp. | 18330 | 983588 |
| Fluor Corp.<sup>(a)</sup> <br>| 27064 | 1110165 |
| Gates Industrial Corp. PLC<sup>(a)</sup> <br>| 53951 | 1378988 |
| Hayward Holdings, Inc.<sup>(a)</sup> <br>| 40262 | 647413 |
| Janus International Group, Inc.<sup>(a)</sup> <br>| 120648 | 1248707 |
| Karman Holdings, Inc.<sup>(a)</sup> <br>| 51828 | 2768133 |
| Matrix Service Co.<sup>(a)</sup> <br>| 46698 | 706541 |
| MSC Industrial Direct Co., Inc., Cl. A | 7216 | 651100 |
| MYR Group, Inc.<sup>(a)</sup> <br>| 10159 | 1902476 |
| NPK International, Inc.<sup>(a)</sup> <br>| 54281 | 564522 |
| QXO, Inc.<sup>(a),(b)</sup> <br>| 27377 | 551099 |
| Regal Rexnord Corp. | 11673 | 1743129 |
| SiteOne Landscape Supply, Inc.<sup>(a)</sup> <br>| 11876 | 1701118 |
| The Middleby Corp.<sup>(a)</sup> <br>| 5260 | 719831 |

---

**20**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Small Cap Multi-Strategy Fund (continued)** | **BNY Mellon Small Cap Multi-Strategy Fund (continued)** | **BNY Mellon Small Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 97.5% (continued)** | **Common Stocks — 97.5% (continued)** | **Common Stocks — 97.5% (continued)** |
| **Capital Goods — 16.2% (continued)** | **Capital Goods — 16.2% (continued)** | **Capital Goods — 16.2% (continued)** |
| The Timken Company | 11005 | 849916 |
| WESCO International, Inc. | 9730 | 2139043 |
|  |  | **32275576** |
| **Commercial & Professional Services — 2.1%** | **Commercial & Professional Services — 2.1%** | **Commercial & Professional Services — 2.1%** |
| ACV Auctions, Inc., Cl. A<sup>(a)</sup> <br>| 59676 | 695822 |
| BlackSky Technology, Inc.<sup>(a)</sup> <br>| 22055 | 387286 |
| CSG Systems International, Inc. | 16516 | 1059667 |
| KBR, Inc. | 16322 | 823608 |
| Korn Ferry | 11631 | 862322 |
| The Brink's Company | 2248 | 251866 |
|  |  | **4080571** |
| **Consumer Discretionary Distribution & Retail — 2.2%** | **Consumer Discretionary Distribution & Retail — 2.2%** | **Consumer Discretionary Distribution & Retail — 2.2%** |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(a)</sup> <br>| 2448 | 310504 |
| RH<sup>(a)</sup> <br>| 7143 | 1611961 |
| Stitch Fix, Inc., Cl. A<sup>(a)</sup> <br>| 116849 | 618131 |
| Warby Parker, Inc., Cl. A<sup>(a)</sup> <br>| 67393 | 1765697 |
|  |  | **4306293** |
| **Consumer Durables & Apparel — 4.4%** | **Consumer Durables & Apparel — 4.4%** | **Consumer Durables & Apparel — 4.4%** |
| Brunswick Corp. | 30893 | 1964486 |
| Cavco Industries, Inc.<sup>(a)</sup> <br>| 1735 | 920400 |
| Figs, Inc., Cl. A<sup>(a)</sup> <br>| 120898 | 852331 |
| Levi Strauss & Co., Cl. A | 39153 | 875853 |
| Malibu Boats, Inc., Cl. A<sup>(a)</sup> <br>| 31336 | 1040355 |
| Meritage Homes Corp. | 12185 | 946653 |
| Steven Madden Ltd.<sup>(b)</sup> <br>| 20531 | 596220 |
| The Lovesac Company<sup>(a)</sup> <br>| 20743 | 396814 |
| YETI Holdings, Inc.<sup>(a)</sup> <br>| 32190 | 1131800 |
|  |  | **8724912** |
| **Consumer Services — 5.0%** | **Consumer Services — 5.0%** | **Consumer Services — 5.0%** |
| Dutch Bros, Inc., Cl. A<sup>(a)</sup> <br>| 18177 | 1305654 |
| First Watch Restaurant Group, Inc.<sup>(a),(b)</sup> <br>| 138794 | 2614879 |
| Genius Sports Ltd.<sup>(a)</sup> <br>| 103186 | 1319749 |
| Lindblad Expeditions Holdings, Inc.<sup>(a)</sup> <br>| 122932 | 1792349 |
| Perdoceo Education Corp. | 34785 | 1138861 |
| Planet Fitness, Inc., Cl. A<sup>(a)</sup> <br>| 17228 | 1805494 |
|  |  | **9976986** |
| **Consumer Staples Distribution & Retail — .8%** | **Consumer Staples Distribution & Retail — .8%** | **Consumer Staples Distribution & Retail — .8%** |
| Casey's General Stores, Inc. | 3209 | **1586915** |
| **Energy — 2.9%** | **Energy — 2.9%** | **Energy — 2.9%** |
| Antero Resources Corp.<sup>(a)</sup> <br>| 28973 | 924818 |
| Cactus, Inc., Cl. A | 9001 | 377592 |
| Centrus Energy Corp., Cl. A<sup>(a),(b)</sup> <br>| 3057 | 616689 |
| CNX Resources Corp.<sup>(a),(b)</sup> <br>| 5817 | 169856 |
| Crescent Energy Co., Cl. A | 155209 | 1480694 |
| Liberty Energy, Inc. | 65018 | 731453 |
| PBF Energy, Inc., Cl. A | 29812 | 814464 |
| Viper Energy, Inc., Cl. A | 18508 | 737451 |
|  |  | **5853017** |
| **Equity Real Estate Investment Trusts — 4.2%** | **Equity Real Estate Investment Trusts — 4.2%** | **Equity Real Estate Investment Trusts — 4.2%** |
| Americold Realty Trust, Inc.<sup>(c)</sup> <br>| 56271 | 812553 |

---

**21**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Small Cap Multi-Strategy Fund (continued)** | **BNY Mellon Small Cap Multi-Strategy Fund (continued)** | **BNY Mellon Small Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 97.5% (continued)** | **Common Stocks — 97.5% (continued)** | **Common Stocks — 97.5% (continued)** |
| **Equity Real Estate Investment Trusts — 4.2% (continued)** | **Equity Real Estate Investment Trusts — 4.2% (continued)** | **Equity Real Estate Investment Trusts — 4.2% (continued)** |
| CareTrust REIT, Inc.<sup>(c)</sup> <br>| 19238 | 661980 |
| COPT Defense Properties<sup>(c)</sup> <br>| 26476 | 761979 |
| Douglas Emmett, Inc.<sup>(c)</sup> <br>| 42373 | 686866 |
| EPR Properties<sup>(c)</sup> <br>| 12634 | 685395 |
| Healthpeak Properties, Inc.<sup>(c)</sup> <br>| 48698 | 873642 |
| NETSTREIT Corp.<sup>(b),(c)</sup> <br>| 30644 | 560479 |
| PotlatchDeltic Corp.<sup>(c)</sup> <br>| 21745 | 913942 |
| Ryman Hospitality Properties, Inc.<sup>(c)</sup> <br>| 8253 | 815314 |
| STAG Industrial, Inc.<sup>(c)</sup> <br>| 14052 | 517816 |
| Terreno Realty Corp.<sup>(c)</sup> <br>| 9841 | 568515 |
| Urban Edge Properties<sup>(c)</sup> <br>| 21703 | 449035 |
|  |  | **8307516** |
| **Financial Services — 6.5%** | **Financial Services — 6.5%** | **Financial Services — 6.5%** |
| Euronet Worldwide, Inc.<sup>(a)</sup> <br>| 8922 | 831441 |
| HA Sustainable Infrastructure Capital, Inc. | 19469 | 549805 |
| Houlihan Lokey, Inc. | 9038 | 1800822 |
| Marex Group PLC | 20029 | 708225 |
| Moelis & Co., Cl. A | 40928 | 2951318 |
| PennyMac Financial Services, Inc. | 10462 | 1151866 |
| PJT Partners, Inc., Cl. A | 1376 | 246304 |
| SLM Corp. | 47717 | 1492588 |
| StepStone Group, Inc., Cl. A | 13366 | 829494 |
| Voya Financial, Inc. | 15753 | 1182893 |
| WisdomTree, Inc.<sup>(b)</sup> <br>| 83166 | 1131889 |
|  |  | **12876645** |
| **Food, Beverage & Tobacco — 1.4%** | **Food, Beverage & Tobacco — 1.4%** | **Food, Beverage & Tobacco — 1.4%** |
| Freshpet, Inc.<sup>(a)</sup> <br>| 23887 | 1333373 |
| J & J Snack Foods Corp. | 5465 | 609730 |
| Nomad Foods Ltd. | 48017 | 746184 |
|  |  | **2689287** |
| **Health Care Equipment & Services — 5.0%** | **Health Care Equipment & Services — 5.0%** | **Health Care Equipment & Services — 5.0%** |
| Acadia Healthcare Co., Inc.<sup>(a)</sup> <br>| 26141 | 600197 |
| Addus HomeCare Corp.<sup>(a)</sup> <br>| 4462 | 513889 |
| Certara, Inc.<sup>(a)</sup> <br>| 50643 | 548970 |
| Encompass Health Corp. | 7934 | 966044 |
| Envista Holdings Corp.<sup>(a)</sup> <br>| 37609 | 796559 |
| Evolent Health, Inc., Cl. A<sup>(a)</sup> <br>| 113596 | 1096201 |
| GeneDx Holdings Corp.<sup>(a)</sup> <br>| 6003 | 777328 |
| Globus Medical, Inc., Cl. A<sup>(a)</sup> <br>| 16019 | 981484 |
| Guardant Health, Inc.<sup>(a)</sup> <br>| 18238 | 1229606 |
| Privia Health Group, Inc.<sup>(a)</sup> <br>| 70519 | 1624758 |
| The Ensign Group, Inc. | 4836 | 830728 |
|  |  | **9965764** |
| **Household & Personal Products — .1%** | **Household & Personal Products — .1%** | **Household & Personal Products — .1%** |
| Spectrum Brands Holdings, Inc. | 2734 | **155811** |
| **Insurance — 1.4%** | **Insurance — 1.4%** | **Insurance — 1.4%** |
| Palomar Holdings, Inc.<sup>(a)</sup> <br>| 10760 | 1323695 |
| The Baldwin Insurance Group, Inc.<sup>(a),(b)</sup> <br>| 47021 | 1489155 |
|  |  | **2812850** |

---

**22**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Small Cap Multi-Strategy Fund (continued)** | **BNY Mellon Small Cap Multi-Strategy Fund (continued)** | **BNY Mellon Small Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 97.5% (continued)** | **Common Stocks — 97.5% (continued)** | **Common Stocks — 97.5% (continued)** |
| **Materials — 3.5%** | **Materials — 3.5%** | **Materials — 3.5%** |
| Alamos Gold, Inc., Cl. A | 52964 | 1612754 |
| Alcoa Corp. | 26381 | 849204 |
| Eagle Materials, Inc. | 10864 | 2508497 |
| Knife River Corp.<sup>(a)</sup> <br>| 14926 | 1209006 |
| Methanex Corp. | 23125 | 821169 |
|  |  | **7000630** |
| **Media & Entertainment — 2.2%** | **Media & Entertainment — 2.2%** | **Media & Entertainment — 2.2%** |
| IMAX Corp.<sup>(a)</sup> <br>| 26311 | 751442 |
| John Wiley & Sons, Inc., Cl. A | 29026 | 1177875 |
| Lionsgate Studios Corp.<sup>(a)</sup> <br>| 91651 | 589316 |
| Magnite, Inc.<sup>(a)</sup> <br>| 58421 | 1516025 |
| Starz Entertainment Corp.<sup>(a)</sup> <br>| 29729 | 379639 |
|  |  | **4414297** |
| **Pharmaceuticals, Biotechnology & Life Sciences — 9.6%** | **Pharmaceuticals, Biotechnology & Life Sciences — 9.6%** | **Pharmaceuticals, Biotechnology & Life Sciences — 9.6%** |
| Alkermes PLC<sup>(a)</sup> <br>| 31591 | 915191 |
| Ascendis Pharma A/S, ADR<sup>(a)</sup> <br>| 4848 | 941821 |
| Bio-Techne Corp. | 38691 | 2113689 |
| Bridgebio Pharma, Inc.<sup>(a)</sup> <br>| 16874 | 873398 |
| Crinetics Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 10925 | 338566 |
| Denali Therapeutics, Inc.<sup>(a)</sup> <br>| 18591 | 283885 |
| Elanco Animal Health, Inc.<sup>(a)</sup> <br>| 49212 | 903040 |
| Insmed, Inc.<sup>(a)</sup> <br>| 20753 | 2824483 |
| KalVista Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 41593 | 559842 |
| Madrigal Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 1292 | 565702 |
| Merus NV<sup>(a)</sup> <br>| 7898 | 520004 |
| Mirum Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 24525 | 1811662 |
| Natera, Inc.<sup>(a)</sup> <br>| 4754 | 799861 |
| NewAmsterdam Pharma Co. NV<sup>(a),(b)</sup> <br>| 20767 | 499446 |
| Repligen Corp.<sup>(a)</sup> <br>| 15136 | 1851436 |
| Soleno Therapeutics, Inc.<sup>(a)</sup> <br>| 25116 | 1699600 |
| Twist Bioscience Corp.<sup>(a),(b)</sup> <br>| 18925 | 510407 |
| Ultragenyx Pharmaceutical, Inc.<sup>(a)</sup> <br>| 6526 | 195519 |
| uniQure NV<sup>(a)</sup> <br>| 26502 | 432778 |
| Xenon Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 12614 | 488288 |
|  |  | **19128618** |
| **Real Estate Management & Development — .7%** | **Real Estate Management & Development — .7%** | **Real Estate Management & Development — .7%** |
| Newmark Group, Inc., Cl. A | 72041 | **1311867** |
| **Semiconductors & Semiconductor Equipment — 3.2%** | **Semiconductors & Semiconductor Equipment — 3.2%** | **Semiconductors & Semiconductor Equipment — 3.2%** |
| Cohu, Inc.<sup>(a)</sup> <br>| 43897 | 873550 |
| Ichor Holdings Ltd.<sup>(a)</sup> <br>| 29201 | 492037 |
| Rambus, Inc.<sup>(a)</sup> <br>| 41630 | 3071045 |
| SiTime Corp.<sup>(a)</sup> <br>| 992 | 239737 |
| Synaptics, Inc.<sup>(a)</sup> <br>| 12914 | 902172 |
| Ultra Clean Holdings, Inc.<sup>(a)</sup> <br>| 34101 | 819106 |
|  |  | **6397647** |
| **Software & Services — 3.5%** | **Software & Services — 3.5%** | **Software & Services — 3.5%** |
| Blackbaud, Inc.<sup>(a)</sup> <br>| 9743 | 649955 |
| Cellebrite DI Ltd.<sup>(a)</sup> <br>| 59429 | 974636 |
| Dolby Laboratories, Inc., Cl. A | 16296 | 1168097 |
| Elastic NV<sup>(a)</sup> <br>| 4487 | 381664 |

---

**23**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Small Cap Multi-Strategy Fund (continued)** | **BNY Mellon Small Cap Multi-Strategy Fund (continued)** | **BNY Mellon Small Cap Multi-Strategy Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 97.5% (continued)** | **Common Stocks — 97.5% (continued)** | **Common Stocks — 97.5% (continued)** |
| **Software & Services — 3.5% (continued)** | **Software & Services — 3.5% (continued)** | **Software & Services — 3.5% (continued)** |
| JFrog Ltd.<sup>(a)</sup> <br>| 22271 | 1099519 |
| Klaviyo, Inc., Cl. A<sup>(a)</sup> <br>| 27915 | 905563 |
| Life360, Inc.<sup>(a),(b)</sup> <br>| 10130 | 916208 |
| Monday.com Ltd.<sup>(a)</sup> <br>| 4917 | 948981 |
|  |  | **7044623** |
| **Technology Hardware & Equipment — 4.6%** | **Technology Hardware & Equipment — 4.6%** | **Technology Hardware & Equipment — 4.6%** |
| Belden, Inc. | 22407 | 2917391 |
| Cognex Corp. | 41006 | 1801804 |
| Lumentum Holdings, Inc.<sup>(a),(b)</sup> <br>| 14908 | 1979931 |
| nLight, Inc.<sup>(a)</sup> <br>| 19341 | 557021 |
| Viavi Solutions, Inc.<sup>(a)</sup> <br>| 98931 | 1115942 |
| Zebra Technologies Corp., Cl. A<sup>(a)</sup> <br>| 2449 | 776553 |
|  |  | **9148642** |
| **Transportation — 1.7%** | **Transportation — 1.7%** | **Transportation — 1.7%** |
| Knight-Swift Transportation Holdings, Inc. | 29986 | 1316385 |
| SkyWest, Inc.<sup>(a)</sup> <br>| 3168 | 384595 |
| Strata Critical Medical, Inc.<sup>(a)</sup> <br>| 87993 | 384530 |
| Sun Country Airlines Holdings, Inc.<sup>(a)</sup> <br>| 92903 | 1230965 |
|  |  | **3316475** |
| **Utilities — 2.2%** | **Utilities — 2.2%** | **Utilities — 2.2%** |
| Chesapeake Utilities Corp. | 6299 | 778430 |
| Clearway Energy, Inc., Cl. C<sup>(b)</sup> <br>| 10010 | 298398 |
| ONE Gas, Inc. | 14371 | 1099381 |
| Southwest Gas Holdings, Inc. | 11386 | 909514 |
| TXNM Energy, Inc. | 23845 | 1350581 |
|  |  | **4436304** |
| **Total Common Stocks** <br>(cost $147,584,862)<br>|  | **193778221** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>|  |  |
| **Investment Companies — 2.7%** | **Investment Companies — 2.7%** | **Investment Companies — 2.7%** | **Investment Companies — 2.7%** |
| **Registered Investment Companies — 2.7%** | **Registered Investment Companies — 2.7%** | **Registered Investment Companies — 2.7%** | **Registered Investment Companies — 2.7%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(d)</sup> <br>(cost $5,395,401)<br>| 4.41 | 5395401 | **5395401** |
| **Investment of Cash Collateral for Securities Loaned — .3%** |  |  |  |
| **Registered Investment Companies — .3%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(d)</sup> <br>(cost $558,912)<br>| 4.41 | 558912 | **558912** |
| **Total Investments** (cost $153,539,175) | **Total Investments** (cost $153,539,175) | **100.5%** | **199732534** |
| **Liabilities, Less Cash and Receivables** | **Liabilities, Less Cash and Receivables** | **(.5%)** | **(970529)** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **198762005** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

ADR—American Depositary Receipt <br> REIT—Real Estate Investment Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**24**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Security, or portion thereof, on loan. At August 31, 2025, the value of the fund's securities on loan was $9,450,246 and the value of the collateral was $9,749,919, consisting of cash collateral of $558,912 and U.S. Government & Agency securities valued at $9,191,007. In addition, the value of collateral may include pending sales that are also on loan. 

<sup>(c)</sup> Investment in real estate investment trust within the United States.

<sup>(d)</sup> Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's prospectus. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BNY Mellon Small Cap Multi-Strategy Fund** | **BNY Mellon Small Cap Multi-Strategy Fund** | **BNY Mellon Small Cap Multi-Strategy Fund** | **BNY Mellon Small Cap Multi-Strategy Fund** | **BNY Mellon Small Cap Multi-Strategy Fund** | **BNY Mellon Small Cap Multi-Strategy Fund** |
| **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** |
| Description | Value ($) <br>8/31/2024<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>8/31/2025<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - 2.7%** | **Registered Investment Companies - 2.7%** | **Registered Investment Companies - 2.7%** | **Registered Investment Companies - 2.7%** | **Registered Investment Companies - 2.7%** | **Registered Investment Companies - 2.7%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - 2.7%<br>| 3221334 | 117328591 | (115154524) | 5395401 | 237965 |
| **Investment of Cash Collateral for Securities Loaned - .3%** | **Investment of Cash Collateral for Securities Loaned - .3%** | **Investment of Cash Collateral for Securities Loaned - .3%** | **Investment of Cash Collateral for Securities Loaned - .3%** | **Investment of Cash Collateral for Securities Loaned - .3%** | **Investment of Cash Collateral for Securities Loaned - .3%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .3%<br>| 3689462 | 56135069 | (59265619) | 558912 | 60530 <br><sup>††</sup><br>|
| **Total - 3.0%** | **6910796** | **173463660** | **(174420143)** | **5954313** | **298495** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| Includes reinvested dividends/distributions. |
| <sup>††</sup> <br>| Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and <br> other payments to and from borrowers of securities.<br>|

---

See notes to financial statements.

**25**

------

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon International Fund** | **BNY Mellon International Fund** | **BNY Mellon International Fund** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.5%** | **Common Stocks — 95.5%** | **Common Stocks — 95.5%** |
| **Australia — 2.0%** | **Australia — 2.0%** | **Australia — 2.0%** |
| ASX Ltd. | 113618 | **4649938** |
| **Austria — 1.1%** | **Austria — 1.1%** | **Austria — 1.1%** |
| OMV AG | 47078 | **2591485** |
| **Bermuda — 1.1%** | **Bermuda — 1.1%** | **Bermuda — 1.1%** |
| Hiscox Ltd.<sup>(a)</sup> <br>| 146160 | **2579454** |
| **France — 20.3%** | **France — 20.3%** | **France — 20.3%** |
| Arkema SA | 23326 | 1652187 |
| BNP Paribas SA | 81003 | 7275031 |
| Cie de Saint-Gobain SA<sup>(a)</sup> <br>| 32971 | 3559621 |
| Cie Generale des Etablissements Michelin SCA | 117864 | 4262973 |
| Klepierre SA | 151360 | 5903202 |
| Orange SA | 474135 | 7720962 |
| Publicis Groupe SA | 39198 | 3612283 |
| Sanofi SA | 36155 | 3592255 |
| SCOR SE | 69524 | 2276599 |
| SPIE SA | 57762 | 3198061 |
| Vinci SA | 25547 | 3465343 |
|  |  | **46518517** |
| **Germany — 8.0%** | **Germany — 8.0%** | **Germany — 8.0%** |
| Daimler Truck Holding AG | 25093 | 1181732 |
| Deutsche Lufthansa AG | 420805 | 3926000 |
| Deutsche Post AG | 59239 | 2697177 |
| E.ON SE | 123322 | 2198980 |
| Fresenius SE & Co. KGaA | 62225 | 3377888 |
| Heidelberg Materials AG | 1622 | 384467 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 6993 | 4460873 |
|  |  | **18227117** |
| **Hong Kong — .9%** | **Hong Kong — .9%** | **Hong Kong — .9%** |
| Sun Hung Kai Properties Ltd. | 167000 | **1960614** |
| **Italy — 4.0%** | **Italy — 4.0%** | **Italy — 4.0%** |
| Enel SpA | 709099 | 6539780 |
| Eni SpA<sup>(a)</sup> <br>| 142348 | 2542196 |
|  |  | **9081976** |
| **Japan — 23.5%** | **Japan — 23.5%** | **Japan — 23.5%** |
| East Japan Railway Co. | 185800 | 4570746 |
| Ebara Corp. | 204800 | 4212582 |
| FUJIFILM Holdings Corp. | 133000 | 3147462 |
| Hitachi Ltd. | 98100 | 2642935 |
| ITOCHU Corp. | 56300 | 3190294 |
| Komatsu Ltd. | 156100 | 5262267 |
| Kurita Water Industries Ltd. | 59000 | 2010353 |
| Mitsubishi Electric Corp. | 237800 | 5728765 |
| Mizuho Financial Group, Inc. | 294900 | 9647705 |
| Pan Pacific International Holdings Corp. | 121200 | 4378763 |

---

**26**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon International Fund (continued)** | **BNY Mellon International Fund (continued)** | **BNY Mellon International Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 95.5% (continued)** | **Common Stocks — 95.5% (continued)** | **Common Stocks — 95.5% (continued)** |
| **Japan — 23.5% (continued)** | **Japan — 23.5% (continued)** | **Japan — 23.5% (continued)** |
| Santen Pharmaceutical Co. Ltd. | 384200 | 4088130 |
| Sumitomo Mitsui Financial Group, Inc. | 179600 | 4862953 |
|  |  | **53742955** |
| **Netherlands — 3.0%** | **Netherlands — 3.0%** | **Netherlands — 3.0%** |
| ING Groep NV | 161891 | 3853594 |
| Signify NV<sup>(b)</sup> <br>| 111567 | 2939016 |
|  |  | **6792610** |
| **Singapore — 1.5%** | **Singapore — 1.5%** | **Singapore — 1.5%** |
| Singapore Exchange Ltd. | 269500 | **3481043** |
| **Spain — 2.6%** | **Spain — 2.6%** | **Spain — 2.6%** |
| Repsol SA | 192712 | 3160635 |
| Unicaja Banco SA<sup>(b)</sup> <br>| 1000288 | 2771567 |
|  |  | **5932202** |
| **Switzerland — 2.6%** | **Switzerland — 2.6%** | **Switzerland — 2.6%** |
| Glencore PLC | 1008620 | 3986048 |
| Sonova Holding AG | 6361 | 1854445 |
|  |  | **5840493** |
| **United Kingdom — 24.9%** | **United Kingdom — 24.9%** | **United Kingdom — 24.9%** |
| BAE Systems PLC | 121444 | 2886357 |
| Balfour Beatty PLC | 792717 | 6362504 |
| Barclays PLC | 1497296 | 7288757 |
| Bellway PLC | 71031 | 2238693 |
| BP PLC | 738426 | 4333618 |
| GSK PLC | 404598 | 7977775 |
| HSBC Holdings PLC | 186850 | 2394472 |
| Informa PLC | 405709 | 4780907 |
| Johnson Matthey PLC | 119771 | 3095279 |
| Land Securities Group PLC | 570622 | 4270800 |
| Shell PLC | 231432 | 8512596 |
| Tate & Lyle PLC | 395277 | 2838900 |
|  |  | **56980658** |
| **Total Common Stocks** <br>(cost $184,913,113)<br>|  | **218379062** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Preferred <br>Dividend <br>Rate (%)<br>|  |  |
| **Preferred Stocks — 1.8%** |  |  |  |
| **Germany — 1.8%** |  |  |  |
| Volkswagen AG <br>(cost $7,284,541)<br>| 6.36 | 35083 | **4085810** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Exchange-Traded Funds — 0.8%** |  |  |
| **United States — 0.8%** |  |  |
| iShares MSCI EAFE ETF <br>(cost $1,670,367)<br>| 19091 | **1746445** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**27**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **BNY Mellon International Fund (continued)** | **BNY Mellon International Fund (continued)** | **BNY Mellon International Fund (continued)** | **BNY Mellon International Fund (continued)** |
| Description | 1-Day <br>Yield (%)<br>| Shares | Value ($) |
| **Investment Companies — .2%** |  |  |  |
| **Registered Investment Companies — .2%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(c)</sup> <br>(cost $387,336)<br>| 4.41 | 387336 | **387336** |
| **Investment of Cash Collateral for Securities Loaned — .7%** |  |  |  |
| **Registered Investment Companies — .7%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(c)</sup> <br>(cost $1,742,249)<br>| 4.41 | 1742249 | **1742249** |
| **Total Investments** (cost $195,997,606) |  | **99.0%** | **226340902** |
| **Cash and Receivables (Net)** |  | **1.0%** | **2322284** |
| **Net Assets** |  | **100.0%** | **228663186** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

ETF—Exchange-Traded Fund<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security, or portion thereof, on loan. At August 31, 2025, the value of the fund's securities on loan was $1,652,329 and the value of the collateral was $1,742,249, consisting of cash collateral. In addition, the value of collateral may include pending sales that are also on loan. 

<sup>(b)</sup> 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 August 31, 2025, these securities amounted to $5,710,583 or 2.5% of net assets. 

<sup>(c)</sup> Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's prospectus. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BNY Mellon International Fund** | **BNY Mellon International Fund** | **BNY Mellon International Fund** | **BNY Mellon International Fund** | **BNY Mellon International Fund** | **BNY Mellon International Fund** |
| **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** |
| Description | Value ($) <br>8/31/2024<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>8/31/2025<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - .2%** | **Registered Investment Companies - .2%** | **Registered Investment Companies - .2%** | **Registered Investment Companies - .2%** | **Registered Investment Companies - .2%** | **Registered Investment Companies - .2%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .2%<br>| 1344774 | 41413833 | (42371271) | 387336 | 29162 |
| **Investment of Cash Collateral for Securities Loaned - .7%** | **Investment of Cash Collateral for Securities Loaned - .7%** | **Investment of Cash Collateral for Securities Loaned - .7%** | **Investment of Cash Collateral for Securities Loaned - .7%** | **Investment of Cash Collateral for Securities Loaned - .7%** | **Investment of Cash Collateral for Securities Loaned - .7%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .7%<br>| 4217713 | 54728314 | (57203778) | 1742249 | 5267 <br><sup>††</sup><br>|
| **Total - .9%** | **5562487** | **96142147** | **(99575049)** | **2129585** | **34429** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| Includes reinvested dividends/distributions. |
| <sup>††</sup> <br>| Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and <br> other payments to and from borrowers of securities.<br>|

---

See notes to financial statements.

**28**

------

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Emerging Markets Fund** | **BNY Mellon Emerging Markets Fund** | **BNY Mellon Emerging Markets Fund** |
| Description | Shares | Value ($) |
| **Common Stocks — 97.9%** | **Common Stocks — 97.9%** | **Common Stocks — 97.9%** |
| **Australia — .5%** | **Australia — .5%** | **Australia — .5%** |
| BHP Group Ltd. | 30746 | **856972** |
| **Brazil — 5.1%** | **Brazil — 5.1%** | **Brazil — 5.1%** |
| Banco Bradesco SA, ADR | 867698 | 2698541 |
| Lojas Renner SA | 581771 | 1743645 |
| Raia Drogasil SA | 674392 | 2206574 |
| TOTVS SA | 260075 | 2070776 |
|  |  | **8719536** |
| **Chile — 1.3%** | **Chile — 1.3%** | **Chile — 1.3%** |
| Antofagasta PLC | 74801 | **2167505** |
| **China — 21.8%** | **China — 21.8%** | **China — 21.8%** |
| Anker Innovations Technology Co. Ltd., Cl. A | 49900 | 975747 |
| ANTA Sports Products Ltd. | 130000 | 1594013 |
| Atour Lifestyle Holdings Ltd., ADR | 36633 | 1425756 |
| China Merchants Bank Co. Ltd., Cl. H | 335000 | 2060697 |
| Contemporary Amperex Technology Co. Ltd., Cl. A | 79300 | 3395905 |
| JD.com, Inc., Cl. A | 214550 | 3302536 |
| Jiangsu Hengli Hydraulic Co. Ltd., Cl. A | 116200 | 1456746 |
| Midea Group Co. Ltd., Cl. A | 318500 | 3288895 |
| NetEase, Inc. | 64600 | 1766278 |
| SF Holding Co. Ltd., Cl. A | 123000 | 767947 |
| Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Cl. A | 63900 | 2173141 |
| Tencent Holdings Ltd. | 165900 | 12828828 |
| Wuxi Biologics Cayman, Inc.<sup>(a),(b)</sup> <br>| 441000 | 1861507 |
|  |  | **36897996** |
| **France — 1.8%** | **France — 1.8%** | **France — 1.8%** |
| TotalEnergies SE | 48552 | **3047079** |
| **Greece — .6%** | **Greece — .6%** | **Greece — .6%** |
| Eurobank Ergasias Services and Holdings SA | 301609 | **1099430** |
| **Hong Kong — 8.0%** | **Hong Kong — 8.0%** | **Hong Kong — 8.0%** |
| AIA Group Ltd. | 519800 | 4918874 |
| Alibaba Group Holding Ltd. | 101500 | 1698534 |
| Hong Kong Exchanges & Clearing Ltd. | 64900 | 3805789 |
| Pacific Basin Shipping Ltd. | 3557000 | 998240 |
| SITC International Holdings Co. Ltd. | 614000 | 2166465 |
|  |  | **13587902** |
| **India — 15.3%** | **India — 15.3%** | **India — 15.3%** |
| Eternal Ltd.<sup>(b)</sup> <br>| 887723 | 3157311 |
| HDFC Bank Ltd. | 236082 | 2544174 |
| Infosys Ltd. | 72635 | 1217311 |
| KEI Industries Ltd. | 42210 | 1822462 |
| Kotak Mahindra Bank Ltd. | 48972 | 1087852 |
| Mahindra & Mahindra Ltd. | 61112 | 2215241 |
| MakeMyTrip Ltd.<sup>(b)</sup> <br>| 23739 | 2344226 |
| Marico Ltd. | 260221 | 2140270 |
| Reliance Industries Ltd. | 176480 | 2713716 |
| Supreme Industries Ltd. | 25930 | 1313683 |

---

**29**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 97.9% (continued)** | **Common Stocks — 97.9% (continued)** | **Common Stocks — 97.9% (continued)** |
| **India — 15.3% (continued)** | **India — 15.3% (continued)** | **India — 15.3% (continued)** |
| Tata Consultancy Services Ltd. | 46456 | 1623744 |
| Titan Co. Ltd. | 51492 | 2117578 |
| Tube Investments of India Ltd. | 48671 | 1633184 |
|  |  | **25930752** |
| **Indonesia — 1.7%** | **Indonesia — 1.7%** | **Indonesia — 1.7%** |
| Bank Central Asia Tbk PT | 4470100 | 2187999 |
| Bank Rakyat Indonesia Persero Tbk PT | 3130400 | 767806 |
|  |  | **2955805** |
| **Ireland — 1.5%** | **Ireland — 1.5%** | **Ireland — 1.5%** |
| PDD Holdings, Inc., ADR<sup>(b)</sup> <br>| 21810 | **2621998** |
| **Mexico — 1.9%** | **Mexico — 1.9%** | **Mexico — 1.9%** |
| Fomento Economico Mexicano SAB de CV | 103492 | 897713 |
| Grupo Financiero Banorte SAB de CV, Cl. O | 105698 | 962775 |
| Qualitas Controladora SAB de CV | 150966 | 1360550 |
|  |  | **3221038** |
| **Peru — 1.4%** | **Peru — 1.4%** | **Peru — 1.4%** |
| Credicorp Ltd. | 8972 | **2307598** |
| **Philippines — .4%** | **Philippines — .4%** | **Philippines — .4%** |
| Ayala Corp. | 79340 | **754794** |
| **Russia — .0%** | **Russia — .0%** | **Russia — .0%** |
| LUKOIL PJSC, ADR<sup>(b),(c)</sup> <br>| 85809 | 0 |
| Sberbank of Russia PJSC, ADR<sup>(b),(c)</sup> <br>| 884047 | 0 |
| X5 Retail Group NV, GDR<sup>(b),(c)</sup> <br>| 198889 | 0 |
|  |  | **0** |
| **Singapore — 2.2%** | **Singapore — 2.2%** | **Singapore — 2.2%** |
| Grab Holdings Ltd., Cl. A<sup>(b)</sup> <br>| 309998 | 1546890 |
| Trip.com Group Ltd. | 28950 | 2144859 |
|  |  | **3691749** |
| **South Africa — 2.0%** | **South Africa — 2.0%** | **South Africa — 2.0%** |
| Bidvest Group Ltd. | 91147 | 1227295 |
| Shoprite Holdings Ltd. | 141061 | 2106276 |
|  |  | **3333571** |
| **South Korea — 9.9%** | **South Korea — 9.9%** | **South Korea — 9.9%** |
| HD Hyundai Marine Solution Co. Ltd. | 18657 | 2856015 |
| Hugel, Inc.<sup>(b)</sup> <br>| 4655 | 1055335 |
| KT Corp. | 54991 | 2139106 |
| LG Energy Solution Ltd.<sup>(b)</sup> <br>| 5203 | 1315460 |
| Samsung Electronics Co. Ltd. | 107750 | 5391369 |
| SK Hynix, Inc. | 21117 | 4042666 |
|  |  | **16799951** |
| **Sweden — .8%** | **Sweden — .8%** | **Sweden — .8%** |
| Epiroc AB, Cl. A | 60725 | **1269438** |
| **Taiwan — 17.8%** | **Taiwan — 17.8%** | **Taiwan — 17.8%** |
| Advantech Co. Ltd. | 207000 | 2320934 |
| Airtac International Group | 32527 | 832828 |
| Chroma ATE, Inc. | 96000 | 1814952 |
| Delta Electronics, Inc. | 131000 | 3023890 |
| MediaTek, Inc. | 19000 | 848347 |
| Sinbon Electronics Co. Ltd. | 221000 | 1678307 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 401000 | 15097131 |

---

**30**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 97.9% (continued)** | **Common Stocks — 97.9% (continued)** | **Common Stocks — 97.9% (continued)** |
| **Taiwan — 17.8% (continued)** | **Taiwan — 17.8% (continued)** | **Taiwan — 17.8% (continued)** |
| Uni-President Enterprises Corp. | 1590000 | 4023825 |
| Voltronic Power Technology Corp. | 19000 | 611716 |
|  |  | **30251930** |
| **Turkey — .7%** | **Turkey — .7%** | **Turkey — .7%** |
| BIM Birlesik Magazalar AS<sup>(d)</sup> <br>| 92803 | **1196435** |
| **United States — .9%** | **United States — .9%** | **United States — .9%** |
| Schlumberger NV | 39947 | **1471648** |
| **Uruguay — 2.3%** | **Uruguay — 2.3%** | **Uruguay — 2.3%** |
| MercadoLibre, Inc.<sup>(b)</sup> <br>| 1542 | **3813227** |
| **Total Common Stocks** <br>(cost $139,197,622)<br>|  | **165996354** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>|  |  |
| **Investment Companies — 1.6%** |  |  |  |
| **Registered Investment Companies — 1.6%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(e)</sup> <br>(cost $2,722,929)<br>| 4.41 | 2722929 | **2722929** |
| **Investment of Cash Collateral for Securities Loaned — .4%** |  |  |  |
| **Registered Investment Companies — .4%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(e)</sup> <br>(cost $712,515)<br>| 4.41 | 712515 | **712515** |
| **Total Investments** (cost $142,633,066) |  | **99.9%** | **169431798** |
| **Cash and Receivables (Net)** |  | **.1%** | **142670** |
| **Net Assets** |  | **100.0%** | **169574468** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

ADR—American Depositary Receipt <br> GDR—Global Depositary Receipt

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> 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 August 31, 2025, these securities amounted to $1,861,507 or 1.1% of net assets. 

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> The fund held Level 3 securities at August 31, 2025. These securities were valued at $0 or .0% of net assets.

<sup>(d)</sup> Security, or portion thereof, on loan. At August 31, 2025, the value of the fund's securities on loan was $0 and the value of the collateral was $712,515, consisting of cash collateral. In addition, the value of collateral may include pending sales that are also on loan. 

<sup>(e)</sup> Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's prospectus. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BNY Mellon Emerging Markets Fund** | **BNY Mellon Emerging Markets Fund** | **BNY Mellon Emerging Markets Fund** | **BNY Mellon Emerging Markets Fund** | **BNY Mellon Emerging Markets Fund** | **BNY Mellon Emerging Markets Fund** |
| **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** |
| Description | Value ($) <br>8/31/2024<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>8/31/2025<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - 1.6%** | **Registered Investment Companies - 1.6%** | **Registered Investment Companies - 1.6%** | **Registered Investment Companies - 1.6%** | **Registered Investment Companies - 1.6%** | **Registered Investment Companies - 1.6%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - 1.6%<br>| 2501925 | 72353992 | (72132988) | 2722929 | 112323 |

---

**31**

------

SCHEDULES OF INVESTMENTS (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** |
| **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** |
| Description | Value ($)<br> 8/31/2024<br>| Purchases ($)<sup>†</sup> | Sales ($) | Value ($)<br> 8/31/2025<br>| Dividends/<br> Distributions ($)<br>|
| **Investment of Cash Collateral for Securities Loaned - .4%** | **Investment of Cash Collateral for Securities Loaned - .4%** | **Investment of Cash Collateral for Securities Loaned - .4%** | **Investment of Cash Collateral for Securities Loaned - .4%** | **Investment of Cash Collateral for Securities Loaned - .4%** | **Investment of Cash Collateral for Securities Loaned - .4%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .4%<br>| - | 14620798 | (13908283) | 712515 | 3888 <br><sup>††</sup><br>|
| **Total - 2.0%** | **2501925** | **86974790** | **(86041271)** | **3435444** | **116211** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| Includes reinvested dividends/distributions. |
| <sup>††</sup> <br>| Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and <br> other payments to and from borrowers of securities.<br>|

---

See notes to financial statements.

**32**

------

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** |
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>| Value ($) |
| **Bonds and Notes — 10.6%** | **Bonds and Notes — 10.6%** | **Bonds and Notes — 10.6%** | **Bonds and Notes — 10.6%** | **Bonds and Notes — 10.6%** |
| **Aerospace & Defense — .1%** | **Aerospace & Defense — .1%** | **Aerospace & Defense — .1%** | **Aerospace & Defense — .1%** | **Aerospace & Defense — .1%** |
| The Boeing Company, Sr. Unscd. Notes | 3.63 | 2/1/2031 | 150000 | 143282 |
| The Boeing Company, Sr. Unscd. Notes | 6.53 | 5/1/2034 | 175000 | 191760 |
|  |  |  |  | **335042** |
| **Airlines — .0%** | **Airlines — .0%** | **Airlines — .0%** | **Airlines — .0%** | **Airlines — .0%** |
| American Airlines Pass-Through Trust, Ser. 2015-1, Cl. A | 3.38 | 5/1/2027 | 192315 | **188846** |
| **Automobiles & Components — .1%** | **Automobiles & Components — .1%** | **Automobiles & Components — .1%** | **Automobiles & Components — .1%** | **Automobiles & Components — .1%** |
| General Motors Financial Co., Inc., Sr. Unscd. Notes | 3.10 | 1/12/2032 | 275000 | **244631** |
| **Banks — 1.0%** | **Banks — 1.0%** | **Banks — 1.0%** | **Banks — 1.0%** | **Banks — 1.0%** |
| Bank of America Corp., Jr. Sub. Notes, Ser. TT<sup>(a)</sup> <br>| 6.13 | 4/27/2027 | 295000 | 298480 |
| Barclays PLC, Sr. Unscd. Notes | 7.44 | 11/2/2033 | 275000 | 314135 |
| Citigroup, Inc., Sub. Notes<sup>(b)</sup> <br>| 6.17 | 5/25/2034 | 330000 | 347780 |
| Citizens Financial Group, Inc., Sr. Unscd. Notes | 5.72 | 7/23/2032 | 275000 | 287296 |
| Comerica, Inc., Sr. Unscd. Notes | 5.98 | 1/30/2030 | 225000 | 233487 |
| Deutsche Bank AG, Sr. Notes | 5.30 | 5/9/2031 | 325000 | 333077 |
| HSBC Holdings PLC, Sr. Unscd. Notes<sup>(b)</sup> <br>| 6.25 | 3/9/2034 | 315000 | 340280 |
| JPMorgan Chase & Co., Jr. Sub. Notes, Ser. OO<sup>(a)</sup> <br>| 6.50 | 4/1/2030 | 190000 | 195619 |
| Morgan Stanley, Sr. Unscd. Notes | 5.59 | 1/18/2036 | 300000 | 310301 |
| NatWest Group PLC, Sr. Unscd. Notes | 5.08 | 1/27/2030 | 210000 | 214671 |
| Nordea Bank Abp, Jr. Sub. Notes<sup>(a),(c)</sup> <br>| 6.63 | 3/26/2026 | 255000 | 257105 |
| Santander Holdings USA, Inc., Sr. Unscd. Bonds | 7.66 | 11/9/2031 | 250000 | 281749 |
| Societe Generale SA, Sr. Notes<sup>(c)</sup> <br>| 6.69 | 1/10/2034 | 300000 | 323016 |
| The Goldman Sachs Group, Inc., Sub. Notes | 6.75 | 10/1/2037 | 295000 | 328031 |
| Wells Fargo & Co., Sr. Unscd. Notes | 5.24 | 1/24/2031 | 335000 | 346156 |
|  |  |  |  | **4411183** |
| **Beverage Products — .1%** | **Beverage Products — .1%** | **Beverage Products — .1%** | **Beverage Products — .1%** | **Beverage Products — .1%** |
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., Gtd. Notes | 4.90 | 2/1/2046 | 240000 | **219285** |
| **Diversified Financials — .5%** | **Diversified Financials — .5%** | **Diversified Financials — .5%** | **Diversified Financials — .5%** | **Diversified Financials — .5%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Gtd. Notes | 6.95 | 3/10/2055 | 220000 | 230467 |
| Aircastle Ltd., Gtd. Notes<sup>(c)</sup> <br>| 2.85 | 1/26/2028 | 300000 | 288857 |
| Apollo Debt Solutions BDC, Sr. Unscd. Notes<sup>(b)</sup> <br>| 6.70 | 7/29/2031 | 200000 | 211766 |
| Ares Capital Corp., Sr. Unscd. Notes | 2.88 | 6/15/2028 | 205000 | 195726 |
| BlackRock TCP Capital Corp., Sr. Unscd. Notes<sup>(b)</sup> <br>| 2.85 | 2/9/2026 | 200000 | 197231 |
| Blackstone Secured Lending Fund, Sr. Unscd. Notes | 2.85 | 9/30/2028 | 235000 | 222133 |
| Blue Owl Finance LLC, Gtd. Notes | 4.13 | 10/7/2051 | 260000 | 183110 |
| CDP Financial, Inc., Gtd. Notes<sup>(c)</sup> <br>| 4.88 | 6/5/2029 | 150000 | 155728 |
| Ontario Teachers' Finance Trust, Gtd. Notes<sup>(c)</sup> <br>| 2.00 | 4/16/2031 | 200000 | 180234 |
| Ontario Teachers' Finance Trust, Gtd. Notes<sup>(c)</sup> <br>| 4.63 | 4/10/2029 | 150000 | 153972 |
|  |  |  |  | **2019224** |
| **Electronic Components — .0%** | **Electronic Components — .0%** | **Electronic Components — .0%** | **Electronic Components — .0%** | **Electronic Components — .0%** |
| Jabil, Inc., Sr. Unscd. Notes | 3.60 | 1/15/2030 | 205000 | **197031** |
| **Energy — .2%** | **Energy — .2%** | **Energy — .2%** | **Energy — .2%** | **Energy — .2%** |
| Diamondback Energy, Inc., Gtd. Notes | 3.13 | 3/24/2031 | 200000 | 185308 |
| Energy Transfer LP, Sr. Unscd. Notes | 5.55 | 5/15/2034 | 135000 | 137155 |
| Enterprise Products Operating LLC, Gtd. Notes | 5.35 | 1/31/2033 | 125000 | 129672 |

---

**33**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** |
| **Energy — .2% (continued)** | **Energy — .2% (continued)** | **Energy — .2% (continued)** | **Energy — .2% (continued)** | **Energy — .2% (continued)** |
| Kinder Morgan, Inc., Gtd. Notes | 5.20 | 6/1/2033 | 170000 | 172031 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp., Gtd. <br> Notes<br>| 5.00 | 1/15/2028 | 185000 | 185206 |
|  |  |  |  | **809372** |
| **Food Products — .0%** | **Food Products — .0%** | **Food Products — .0%** | **Food Products — .0%** | **Food Products — .0%** |
| The Kroger Company, Sr. Unscd. Notes | 1.70 | 1/15/2031 | 220000 | **192008** |
| **Foreign Governmental — .1%** | **Foreign Governmental — .1%** | **Foreign Governmental — .1%** | **Foreign Governmental — .1%** | **Foreign Governmental — .1%** |
| British Columbia, Sr. Unscd. Notes | 4.20 | 7/6/2033 | 100000 | 99223 |
| Japan Finance Organization for Municipalities, Sr. Unscd. Notes<sup>(c)</sup> <br>| 1.38 | 2/10/2031 | 200000 | 174078 |
| Province of Manitoba, Sr. Unscd. Notes | 4.30 | 7/27/2033 | 160000 | 159116 |
|  |  |  |  | **432417** |
| **Health Care — .3%** | **Health Care — .3%** | **Health Care — .3%** | **Health Care — .3%** | **Health Care — .3%** |
| AbbVie, Inc., Sr. Unscd. Notes | 3.20 | 11/21/2029 | 205000 | 197590 |
| Amgen, Inc., Sr. Unscd. Notes | 5.60 | 3/2/2043 | 175000 | 173086 |
| Amgen, Inc., Sr. Unscd. Notes | 5.65 | 6/15/2042 | 80000 | 79434 |
| CVS Health Corp., Sr. Unscd. Notes | 4.78 | 3/25/2038 | 270000 | 248579 |
| HCA, Inc., Gtd. Notes | 5.75 | 3/1/2035 | 200000 | 205832 |
| Pfizer Investment Enterprises Pte Ltd., Gtd. Notes | 4.65 | 5/19/2030 | 245000 | 249829 |
| UnitedHealth Group, Inc., Sr. Unscd. Notes | 4.95 | 1/15/2032 | 225000 | 229675 |
|  |  |  |  | **1384025** |
| **Information Technology — .1%** | **Information Technology — .1%** | **Information Technology — .1%** | **Information Technology — .1%** | **Information Technology — .1%** |
| Oracle Corp., Sr. Unscd. Notes | 3.90 | 5/15/2035 | 270000 | 243628 |
| Synopsys, Inc., Sr. Unscd. Notes | 5.00 | 4/1/2032 | 215000 | 219437 |
|  |  |  |  | **463065** |
| **Insurance — .1%** | **Insurance — .1%** | **Insurance — .1%** | **Insurance — .1%** | **Insurance — .1%** |
| MetLife, Inc., Jr. Sub. Notes, Ser. G<sup>(a)</sup> <br>| 3.85 | 9/15/2025 | 100000 | 99811 |
| Prudential Financial, Inc., Sr. Unscd. Notes | 4.35 | 2/25/2050 | 275000 | 225645 |
|  |  |  |  | **325456** |
| **Internet Software & Services — .1%** | **Internet Software & Services — .1%** | **Internet Software & Services — .1%** | **Internet Software & Services — .1%** | **Internet Software & Services — .1%** |
| Amazon.com, Inc., Sr. Unscd. Notes | 1.65 | 5/12/2028 | 245000 | 231589 |
| Meta Platforms, Inc., Sr. Unscd. Notes | 4.45 | 8/15/2052 | 285000 | 237634 |
|  |  |  |  | **469223** |
| **Media — .0%** | **Media — .0%** | **Media — .0%** | **Media — .0%** | **Media — .0%** |
| Comcast Corp., Gtd. Notes | 5.35 | 11/15/2027 | 125000 | **128484** |
| **Metals & Mining — .1%** | **Metals & Mining — .1%** | **Metals & Mining — .1%** | **Metals & Mining — .1%** | **Metals & Mining — .1%** |
| Glencore Funding LLC, Gtd. Notes<sup>(c)</sup> <br>| 2.63 | 9/23/2031 | 160000 | 142847 |
| Nucor Corp., Sr. Unscd. Notes | 3.13 | 4/1/2032 | 200000 | 183080 |
|  |  |  |  | **325927** |
| **Retailing — .0%** | **Retailing — .0%** | **Retailing — .0%** | **Retailing — .0%** | **Retailing — .0%** |
| The Home Depot, Inc., Sr. Unscd. Notes | 1.38 | 3/15/2031 | 210000 | **180510** |
| **Semiconductors & Semiconductor Equipment — .2%** | **Semiconductors & Semiconductor Equipment — .2%** | **Semiconductors & Semiconductor Equipment — .2%** | **Semiconductors & Semiconductor Equipment — .2%** | **Semiconductors & Semiconductor Equipment — .2%** |
| Broadcom, Inc., Gtd. Notes<sup>(c)</sup> <br>| 2.45 | 2/15/2031 | 175000 | 158282 |
| Broadcom, Inc., Sr. Unscd. Notes<sup>(c)</sup> <br>| 3.19 | 11/15/2036 | 225000 | 187941 |
| Foundry JV Holdco LLC, Sr. Scd. Notes<sup>(c)</sup> <br>| 5.88 | 1/25/2034 | 225000 | 231213 |
| Intel Corp., Sr. Unscd. Notes<sup>(b)</sup> <br>| 5.60 | 2/21/2054 | 215000 | 195680 |
|  |  |  |  | **773116** |
| **Technology Hardware & Equipment — .0%** | **Technology Hardware & Equipment — .0%** | **Technology Hardware & Equipment — .0%** | **Technology Hardware & Equipment — .0%** | **Technology Hardware & Equipment — .0%** |
| Dell International LLC/EMC Corp., Gtd. Notes | 3.38 | 12/15/2041 | 245000 | **182538** |
| **Telecommunication Services — .2%** | **Telecommunication Services — .2%** | **Telecommunication Services — .2%** | **Telecommunication Services — .2%** | **Telecommunication Services — .2%** |
| AT&T, Inc., Sr. Unscd. Notes | 4.55 | 3/9/2049 | 350000 | 288421 |

---

**34**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** |
| **Telecommunication Services — .2% (continued)** | **Telecommunication Services — .2% (continued)** | **Telecommunication Services — .2% (continued)** | **Telecommunication Services — .2% (continued)** | **Telecommunication Services — .2% (continued)** |
| Motorola Solutions, Inc., Sr. Unscd. Notes | 5.40 | 4/15/2034 | 165000 | 169546 |
| T-Mobile USA, Inc., Gtd. Notes | 3.00 | 2/15/2041 | 385000 | 281525 |
| Verizon Communications, Inc., Sr. Unscd. Notes | 2.99 | 10/30/2056 | 400000 | 239214 |
|  |  |  |  | **978706** |
| **Transportation — .0%** | **Transportation — .0%** | **Transportation — .0%** | **Transportation — .0%** | **Transportation — .0%** |
| J.B. Hunt Transport Services, Inc., Gtd. Notes | 3.88 | 3/1/2026 | 185000 | **184425** |
| **U.S. Government Agencies Collateralized Municipal-Backed Securities — .0%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .0%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .0%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .0%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .0%** |
| Government National Mortgage Association, Ser. 2012-135, Cl. AE | 1.83 | 12/16/2052 | 205060 | **174294** |
| **U.S. Government Agencies Mortgage-Backed — 2.8%** | **U.S. Government Agencies Mortgage-Backed — 2.8%** | **U.S. Government Agencies Mortgage-Backed — 2.8%** | **U.S. Government Agencies Mortgage-Backed — 2.8%** | **U.S. Government Agencies Mortgage-Backed — 2.8%** |
| Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: |
| 2.00%, 2/1/2052<sup>(d)</sup> <br>|  |  | 471752 | 377986 |
| 2.50%, 10/1/2051-12/1/2051<sup>(d)</sup> <br>|  |  | 579173 | 486626 |
| 3.00%, 6/1/2052<sup>(d)</sup> <br>|  |  | 219497 | 190712 |
| 3.50%, 7/1/2047-11/1/2047<sup>(d)</sup> <br>|  |  | 652704 | 600701 |
| 4.00%, 6/1/2053<sup>(d)</sup> <br>|  |  | 345012 | 325097 |
| 5.00%, 11/1/2052-12/1/2054<sup>(d)</sup> <br>|  |  | 1051130 | 1044851 |
| 5.50%, 4/1/2054-2/1/2055<sup>(d)</sup> <br>|  |  | 1410434 | 1425918 |
| 6.00%, 4/1/2055<sup>(d)</sup> <br>|  |  | 278753 | 284966 |
| Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: |
| 2.00%, 5/1/2051-4/1/2052<sup>(d)</sup> <br>|  |  | 1336324 | 1072324 |
| 2.50%, 6/1/2051-3/1/2052<sup>(d)</sup> <br>|  |  | 1429184 | 1189904 |
| 3.00%, 6/1/2052-7/1/2052<sup>(d)</sup> <br>|  |  | 999722 | 867960 |
| 3.50%, 3/1/2048-9/1/2052<sup>(d)</sup> <br>|  |  | 558062 | 509786 |
| 4.00%, 4/1/2052-9/1/2052<sup>(d)</sup> <br>|  |  | 411126 | 384460 |
| 4.50%, 10/1/2052<sup>(d)</sup> <br>|  |  | 214440 | 207570 |
| 5.00%, 1/1/2055<sup>(d)</sup> <br>|  |  | 231223 | 229738 |
| 5.50%, 7/1/2055<sup>(d)</sup> <br>|  |  | 254682 | 257993 |
| 6.00%, 9/1/2054-11/1/2054<sup>(d)</sup> <br>|  |  | 528958 | 541612 |
| Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: |
| 2.00%, 10/20/2050-9/20/2051 |  |  | 716578 | 578522 |
| 2.50%, 5/20/2051 |  |  | 360480 | 301588 |
| 3.00%, 6/20/2050 |  |  | 83211 | 72368 |
| 3.50%, 1/20/2052-9/20/2053 |  |  | 414518 | 382292 |
| 4.00%, 2/20/2051-5/20/2051 |  |  | 221806 | 204549 |
| 4.50%, 7/20/2052 |  |  | 264352 | 256768 |
| 6.50%, 7/20/2055 |  |  | 304184 | 313541 |
| 7.00%, 6/20/2055 |  |  | 253863 | 263105 |
| 7.50%, 7/20/2054 |  |  | 123201 | 128067 |
|  |  |  |  | **12499004** |
| **U.S. Treasury Securities — 4.6%** | **U.S. Treasury Securities — 4.6%** | **U.S. Treasury Securities — 4.6%** | **U.S. Treasury Securities — 4.6%** | **U.S. Treasury Securities — 4.6%** |
| U.S. Treasury Bonds | 3.63 | 2/15/2053 | 425000 | 340274 |
| U.S. Treasury Bonds | 3.63 | 5/15/2053 | 600000 | 479895 |
| U.S. Treasury Bonds | 3.88 | 2/15/2043 | 690000 | 613318 |
| U.S. Treasury Bonds | 4.00 | 11/15/2052 | 500000 | 429238 |
| U.S. Treasury Bonds | 4.13 | 8/15/2053 | 310000 | 271601 |
| U.S. Treasury Bonds | 4.25 | 8/15/2054 | 225000 | 201357 |
| U.S. Treasury Bonds<sup>(b)</sup> <br>| 4.75 | 2/15/2045 | 720000 | 709537 |
| U.S. Treasury Bonds | 4.75 | 11/15/2053 | 310000 | 301445 |
| U.S. Treasury Inflation Indexed Notes, U.S. CPI Urban Consumers Not <br> Seasonally Adjusted<sup>(e)</sup> <br>| 0.38 | 1/15/2027 | 227006 | 225512 |

---

**35**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** | **Bonds and Notes — 10.6% (continued)** |
| **U.S. Treasury Securities — 4.6% (continued)** | **U.S. Treasury Securities — 4.6% (continued)** | **U.S. Treasury Securities — 4.6% (continued)** | **U.S. Treasury Securities — 4.6% (continued)** | **U.S. Treasury Securities — 4.6% (continued)** |
| U.S. Treasury Inflation Indexed Notes, U.S. CPI Urban Consumers Not <br> Seasonally Adjusted<sup>(e)</sup> <br>| 0.50 | 1/15/2028 | 353074 | 350057 |
| U.S. Treasury Notes | 2.38 | 5/15/2027 | 830000 | 812476 |
| U.S. Treasury Notes | 2.88 | 4/30/2029 | 465000 | 453311 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 3.25 | 6/30/2027 | 95000 | 94347 |
| U.S. Treasury Notes | 3.25 | 6/30/2029 | 855000 | 843594 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 3.38 | 9/15/2027 | 225000 | 223976 |
| U.S. Treasury Notes | 3.50 | 1/31/2028 | 345000 | 344252 |
| U.S. Treasury Notes | 3.63 | 3/31/2030 | 690000 | 688571 |
| U.S. Treasury Notes | 3.75 | 5/15/2028 | 995000 | 999159 |
| U.S. Treasury Notes | 3.88 | 12/31/2027 | 555000 | 558415 |
| U.S. Treasury Notes | 3.88 | 4/30/2030 | 230000 | 231986 |
| U.S. Treasury Notes | 3.88 | 6/30/2030 | 155000 | 156290 |
| U.S. Treasury Notes | 3.88 | 8/15/2034 | 675000 | 661856 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 4.00 | 2/28/2030 | 15000 | 15213 |
| U.S. Treasury Notes | 4.00 | 7/31/2030 | 515000 | 521840 |
| U.S. Treasury Notes | 4.00 | 4/30/2032 | 515000 | 518078 |
| U.S. Treasury Notes | 4.13 | 11/30/2029 | 475000 | 483776 |
| U.S. Treasury Notes | 4.13 | 8/31/2030 | 975000 | 993434 |
| U.S. Treasury Notes | 4.13 | 7/31/2031 | 1065000 | 1082660 |
| U.S. Treasury Notes | 4.13 | 10/31/2031 | 190000 | 192939 |
| U.S. Treasury Notes | 4.13 | 2/29/2032 | 305000 | 309283 |
| U.S. Treasury Notes | 4.13 | 5/31/2032 | 160000 | 162044 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 4.25 | 1/15/2028 | 45000 | 45657 |
| U.S. Treasury Notes | 4.25 | 2/15/2028 | 475000 | 482246 |
| U.S. Treasury Notes | 4.25 | 2/28/2029 | 595000 | 607539 |
| U.S. Treasury Notes | 4.25 | 1/31/2030 | 140000 | 143320 |
| U.S. Treasury Notes | 4.25 | 11/15/2034 | 300000 | 302033 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 4.25 | 5/15/2035 | 575000 | 576932 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 4.25 | 8/15/2035 | 280000 | 280591 |
| U.S. Treasury Notes | 4.38 | 8/31/2028 | 445000 | 454891 |
| U.S. Treasury Notes | 4.38 | 11/30/2028 | 455000 | 465780 |
| U.S. Treasury Notes | 4.38 | 12/31/2029 | 125000 | 128564 |
| U.S. Treasury Notes | 4.38 | 5/15/2034 | 1005000 | 1024845 |
| U.S. Treasury Notes | 4.50 | 4/15/2027 | 465000 | 470849 |
| U.S. Treasury Notes | 4.50 | 5/31/2029 | 30000 | 30912 |
| U.S. Treasury Notes | 4.50 | 11/15/2033 | 240000 | 247538 |
| U.S. Treasury Notes | 4.63 | 5/31/2031 | 785000 | 818439 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 4.63 | 2/15/2035 | 150000 | 155156 |
| U.S. Treasury Notes | 4.88 | 10/31/2028 | 135000 | 140123 |
|  |  |  |  | **20645149** |
| **Utilities — .0%** | **Utilities — .0%** | **Utilities — .0%** | **Utilities — .0%** | **Utilities — .0%** |
| NextEra Energy Capital Holdings, Inc., Gtd. Notes | 6.70 | 9/1/2054 | 205000 | **211091** |
| **Total Bonds and Notes** <br>(cost $48,858,316)<br>|  |  |  | **47974052** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Common Stocks — 44.4%** | **Common Stocks — 44.4%** | **Common Stocks — 44.4%** |
| **Advertising — .0%** | **Advertising — .0%** | **Advertising — .0%** |
| Omnicom Group, Inc. | 1615 | **126503** |

---

**36**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** |
| **Aerospace & Defense — .9%** | **Aerospace & Defense — .9%** | **Aerospace & Defense — .9%** |
| General Electric Co. | 3973 | 1093370 |
| Howmet Aerospace, Inc. | 2805 | 488350 |
| L3Harris Technologies, Inc. | 334 | 92725 |
| Lockheed Martin Corp. | 1035 | 471577 |
| Northrop Grumman Corp. | 562 | 331602 |
| RTX Corp. | 5027 | 797282 |
| The Boeing Company <sup>(f)</sup> <br>| 2539 | 595853 |
| TransDigm Group, Inc. | 269 | 376299 |
|  |  | **4247058** |
| **Agriculture — .3%** | **Agriculture — .3%** | **Agriculture — .3%** |
| Altria Group, Inc. | 4051 | 272268 |
| Archer-Daniels-Midland Co. | 1875 | 117450 |
| Philip Morris International, Inc. | 6633 | 1108573 |
|  |  | **1498291** |
| **Airlines — .1%** | **Airlines — .1%** | **Airlines — .1%** |
| Delta Air Lines, Inc. | 4300 | 265654 |
| Southwest Airlines Co. | 1565 | 51488 |
|  |  | **317142** |
| **Automobiles & Components — 1.0%** | **Automobiles & Components — 1.0%** | **Automobiles & Components — 1.0%** |
| Aptiv PLC <sup>(f)</sup> <br>| 1010 | 80325 |
| Ford Motor Co. | 21775 | 256292 |
| General Motors Co. | 4435 | 259847 |
| PACCAR, Inc. | 3442 | 344131 |
| Tesla, Inc. <sup>(f)</sup> <br>| 10127 | 3381101 |
|  |  | **4321696** |
| **Banks — 2.2%** | **Banks — 2.2%** | **Banks — 2.2%** |
| Bank of America Corp. | 33858 | 1717955 |
| Citigroup, Inc. | 5676 | 548131 |
| Citizens Financial Group, Inc. | 3815 | 199448 |
| Fifth Third Bancorp | 3435 | 157220 |
| Huntington Bancshares, Inc. | 9280 | 165277 |
| JPMorgan Chase & Co. | 10404 | 3135974 |
| KeyCorp | 8355 | 161753 |
| M&T Bank Corp. | 821 | 165563 |
| Morgan Stanley | 5530 | 832154 |
| Regions Financial Corp. | 10080 | 276091 |
| State Street Corp. | 1985 | 228215 |
| The Goldman Sachs Group, Inc. | 1394 | 1038879 |
| The PNC Financial Services Group, Inc. | 1567 | 325058 |
| Wells Fargo & Co. | 11599 | 953206 |
|  |  | **9904924** |
| **Beverage Products — .5%** | **Beverage Products — .5%** | **Beverage Products — .5%** |
| Keurig Dr. Pepper, Inc. | 1710 | 49744 |
| Molson Coors Beverage Co., Cl. B | 1840 | 92901 |
| Monster Beverage Corp. <sup>(f)</sup> <br>| 6048 | 377456 |
| PepsiCo, Inc. | 4035 | 599803 |
| The Coca-Cola Company | 13263 | 915014 |
|  |  | **2034918** |
| **Building Materials — .3%** | **Building Materials — .3%** | **Building Materials — .3%** |
| Carrier Global Corp. | 4240 | 276448 |
| Johnson Controls International PLC | 3182 | 340124 |

---

**37**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** |
| **Building Materials — .3% (continued)** | **Building Materials — .3% (continued)** | **Building Materials — .3% (continued)** |
| Trane Technologies PLC | 1257 | 522409 |
| Vulcan Materials Co. | 548 | 159556 |
|  |  | **1298537** |
| **Chemicals — .5%** | **Chemicals — .5%** | **Chemicals — .5%** |
| Air Products and Chemicals, Inc. | 302 | 88821 |
| Albemarle Corp. | 950 | 80674 |
| CF Industries Holdings, Inc. | 960 | 83165 |
| Dow, Inc. | 4965 | 122288 |
| DuPont de Nemours, Inc. | 850 | 65382 |
| Eastman Chemical Co. | 1785 | 125557 |
| Ecolab, Inc. | 820 | 227173 |
| International Flavors & Fragrances, Inc. | 1957 | 132117 |
| Linde PLC | 1835 | 877662 |
| LyondellBasell Industries NV, Cl. A | 2530 | 142565 |
| The Sherwin-Williams Company | 814 | 297786 |
|  |  | **2243190** |
| **Commercial & Professional Services — .8%** | **Commercial & Professional Services — .8%** | **Commercial & Professional Services — .8%** |
| Automatic Data Processing, Inc. | 1844 | 560668 |
| Cintas Corp. | 1912 | 401577 |
| Equifax, Inc. | 612 | 150736 |
| MarketAxess Holdings, Inc. | 252 | 46328 |
| Moody's Corp. | 724 | 369066 |
| PayPal Holdings, Inc. <sup>(f)</sup> <br>| 3305 | 231978 |
| Quanta Services, Inc. | 1592 | 601712 |
| S&P Global, Inc. | 1736 | 952092 |
| United Rentals, Inc. | 542 | 518336 |
|  |  | **3832493** |
| **Consumer Discretionary — .6%** | **Consumer Discretionary — .6%** | **Consumer Discretionary — .6%** |
| Carnival Corp. <sup>(f)</sup> <br>| 7455 | 237740 |
| Copart, Inc. <sup>(f)</sup> <br>| 4406 | 215057 |
| D.R. Horton, Inc. | 1885 | 319470 |
| Fastenal Co. | 6130 | 304416 |
| Hasbro, Inc. | 1520 | 123378 |
| Hilton Worldwide Holdings, Inc. | 1179 | 325475 |
| Las Vegas Sands Corp. | 1670 | 96242 |
| Lennar Corp., Cl. A | 1475 | 196381 |
| Live Nation Entertainment, Inc. <sup>(f)</sup> <br>| 1050 | 174814 |
| Marriott International, Inc., Cl. A | 1160 | 310718 |
| MGM Resorts International <sup>(f)</sup> <br>| 2730 | 108354 |
| Royal Caribbean Cruises Ltd. | 930 | 337795 |
|  |  | **2749840** |
| **Consumer Durables & Apparel — .1%** | **Consumer Durables & Apparel — .1%** | **Consumer Durables & Apparel — .1%** |
| NIKE, Inc., Cl. B | 2880 | 222826 |
| Tapestry, Inc. | 3700 | 376734 |
|  |  | **599560** |
| **Consumer Staples — .5%** | **Consumer Staples — .5%** | **Consumer Staples — .5%** |
| Avery Dennison Corp. | 438 | 75183 |
| Church & Dwight Co., Inc. | 1145 | 106668 |
| Colgate-Palmolive Co. | 2609 | 219339 |
| Kenvue, Inc. | 3665 | 75902 |

---

**38**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** |
| **Consumer Staples — .5% (continued)** | **Consumer Staples — .5% (continued)** | **Consumer Staples — .5% (continued)** |
| Kimberly-Clark Corp. | 1157 | 149415 |
| The Clorox Company | 477 | 56381 |
| The Estee Lauder Companies, Inc., Cl. A | 810 | 74301 |
| The Procter & Gamble Company | 8699 | 1366091 |
|  |  | **2123280** |
| **Diversified Financials — 1.9%** | **Diversified Financials — 1.9%** | **Diversified Financials — 1.9%** |
| American Express Co. | 3515 | 1164449 |
| BlackRock, Inc. | 555 | 625563 |
| Capital One Financial Corp. | 2785 | 632808 |
| Cboe Global Markets, Inc. | 456 | 107593 |
| CME Group, Inc. | 1199 | 319545 |
| Coinbase Global, Inc., Cl. A <sup>(f)</sup> <br>| 668 | 203433 |
| Franklin Resources, Inc. | 6905 | 177182 |
| Intercontinental Exchange, Inc. | 2071 | 365739 |
| Invesco Ltd. | 7075 | 154872 |
| Mastercard, Inc., Cl. A | 2972 | 1769202 |
| T. Rowe Price Group, Inc. | 1234 | 132803 |
| The Charles Schwab Corp. | 5180 | 496451 |
| Visa, Inc., Cl. A | 6310 | 2219732 |
|  |  | **8369372** |
| **Electronic Components — .6%** | **Electronic Components — .6%** | **Electronic Components — .6%** |
| AMETEK, Inc. | 1235 | 228228 |
| Amphenol Corp., Cl. A | 5902 | 642492 |
| Eaton Corp. PLC | 1626 | 567702 |
| Emerson Electric Co. | 2685 | 354420 |
| Garmin Ltd. | 319 | 77141 |
| Honeywell International, Inc. | 1955 | 429122 |
| Keysight Technologies, Inc. <sup>(f)</sup> <br>| 945 | 154441 |
| TE Connectivity PLC | 1378 | 284557 |
|  |  | **2738103** |
| **Energy — 1.4%** | **Energy — 1.4%** | **Energy — 1.4%** |
| APA Corp. | 3640 | 84521 |
| Baker Hughes Co. | 3435 | 155949 |
| Chevron Corp. | 6349 | 1019649 |
| ConocoPhillips | 8204 | 811950 |
| Coterra Energy, Inc. | 3295 | 80530 |
| Devon Energy Corp. | 3210 | 115881 |
| Diamondback Energy, Inc. | 1550 | 230578 |
| Enphase Energy, Inc. <sup>(f)</sup> <br>| 978 | 36871 |
| EOG Resources, Inc. | 3688 | 460336 |
| EQT Corp. | 1395 | 72317 |
| Exxon Mobil Corp. | 13960 | 1595488 |
| First Solar, Inc. <sup>(f)</sup> <br>| 437 | 85298 |
| Halliburton Co. | 4010 | 91147 |
| Kinder Morgan, Inc. | 5102 | 137652 |
| Marathon Petroleum Corp. | 1585 | 284840 |
| Occidental Petroleum Corp. | 2815 | 134022 |
| ONEOK, Inc. | 1930 | 147413 |
| Phillips 66 | 1441 | 192489 |
| Schlumberger NV | 6165 | 227119 |

---

**39**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** |
| **Energy — 1.4% (continued)** | **Energy — 1.4% (continued)** | **Energy — 1.4% (continued)** |
| The Williams Companies, Inc. | 3810 | 220523 |
| Valero Energy Corp. | 1107 | 168275 |
|  |  | **6352848** |
| **Environmental Control — .1%** | **Environmental Control — .1%** | **Environmental Control — .1%** |
| Veralto Corp. | 1088 | 115535 |
| Waste Management, Inc. | 1345 | 304494 |
|  |  | **420029** |
| **Financials — .0%** | **Financials — .0%** | **Financials — .0%** |
| Blackstone, Inc. | 160 | **27424** |
| **Food Products — .3%** | **Food Products — .3%** | **Food Products — .3%** |
| Conagra Brands, Inc. | 23950 | 458164 |
| General Mills, Inc. | 1180 | 58209 |
| Mondelez International, Inc., Cl. A | 5070 | 311501 |
| Sysco Corp. | 990 | 79665 |
| The Hershey Company | 673 | 123664 |
| The Kraft Heinz Company | 6430 | 179847 |
| The Kroger Company | 3210 | 217766 |
|  |  | **1428816** |
| **Forest Products & Paper — .0%** | **Forest Products & Paper — .0%** | **Forest Products & Paper — .0%** |
| International Paper Co. | 2990 | **148543** |
| **Health Care — 4.1%** | **Health Care — 4.1%** | **Health Care — 4.1%** |
| Abbott Laboratories | 6299 | 835625 |
| AbbVie, Inc. | 6503 | 1368231 |
| Agilent Technologies, Inc. | 2609 | 327847 |
| Amgen, Inc. | 2342 | 673817 |
| Baxter International, Inc. | 2845 | 70243 |
| Biogen, Inc. <sup>(f)</sup> <br>| 734 | 97049 |
| Boston Scientific Corp. <sup>(f)</sup> <br>| 6465 | 682058 |
| Bristol-Myers Squibb Co. | 2060 | 97191 |
| Cardinal Health, Inc. | 2520 | 374926 |
| Corteva, Inc. | 2493 | 184956 |
| CVS Health Corp. | 3820 | 279433 |
| Danaher Corp. | 3264 | 671796 |
| Edwards Lifesciences Corp. <sup>(f)</sup> <br>| 1836 | 149340 |
| Elevance Health, Inc. | 836 | 266391 |
| Eli Lilly & Co. | 2966 | 2172832 |
| GE HealthCare Technologies, Inc. | 1615 | 119074 |
| Gilead Sciences, Inc. | 3635 | 410646 |
| HCA Healthcare, Inc. | 1032 | 416887 |
| Humana, Inc. | 111 | 33706 |
| IDEXX Laboratories, Inc. <sup>(f)</sup> <br>| 587 | 379842 |
| Insulet Corp. <sup>(f)</sup> <br>| 755 | 256609 |
| Intuitive Surgical, Inc. <sup>(f)</sup> <br>| 1376 | 651254 |
| Johnson & Johnson | 10970 | 1943555 |
| Labcorp Holdings, Inc. | 573 | 159288 |
| McKesson Corp. | 552 | 379025 |
| Medtronic PLC | 328 | 30442 |
| Merck & Co., Inc. | 6730 | 566128 |
| Moderna, Inc. <sup>(f)</sup> <br>| 2110 | 50830 |
| Pfizer, Inc. | 24686 | 611225 |

---

**40**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** |
| **Health Care — 4.1% (continued)** | **Health Care — 4.1% (continued)** | **Health Care — 4.1% (continued)** |
| Quest Diagnostics, Inc. | 711 | 129146 |
| Regeneron Pharmaceuticals, Inc. | 328 | 190470 |
| ResMed, Inc. | 547 | 150157 |
| STERIS PLC | 559 | 136989 |
| Stryker Corp. | 1438 | 562848 |
| The Cigna Group | 1074 | 323134 |
| Thermo Fisher Scientific, Inc. | 1811 | 892316 |
| UnitedHealth Group, Inc. | 3136 | 971752 |
| Vertex Pharmaceuticals, Inc. <sup>(f)</sup> <br>| 1021 | 399231 |
| Viatris, Inc. | 2385 | 25162 |
| Waters Corp. <sup>(f)</sup> <br>| 302 | 91144 |
| Zoetis, Inc. | 2188 | 342203 |
|  |  | **18474798** |
| **Industrial — .8%** | **Industrial — .8%** | **Industrial — .8%** |
| Axon Enterprise, Inc. <sup>(f)</sup> <br>| 116 | 86686 |
| Caterpillar, Inc. | 1778 | 745053 |
| Deere & Co. | 1194 | 571496 |
| Dover Corp. | 998 | 178502 |
| GE Vernova, Inc. | 1269 | 777859 |
| Huntington Ingalls Industries, Inc. | 137 | 37098 |
| Ingersoll Rand, Inc. | 2380 | 189044 |
| Otis Worldwide Corp. | 714 | 61675 |
| Parker-Hannifin Corp. | 660 | 501171 |
| Rockwell Automation, Inc. | 226 | 77615 |
| Snap-on, Inc. | 691 | 224741 |
| Teledyne Technologies, Inc. <sup>(f)</sup> <br>| 187 | 100638 |
| Textron, Inc. | 1495 | 119839 |
| Westinghouse Air Brake Technologies Corp. | 855 | 165443 |
|  |  | **3836860** |
| **Information Technology — 4.9%** | **Information Technology — 4.9%** | **Information Technology — 4.9%** |
| Adobe, Inc. <sup>(f)</sup> <br>| 1718 | 612811 |
| Autodesk, Inc. <sup>(f)</sup> <br>| 800 | 251760 |
| Cadence Design Systems, Inc. <sup>(f)</sup> <br>| 1956 | 685441 |
| Electronic Arts, Inc. | 414 | 71187 |
| Fidelity National Information Services, Inc. | 2830 | 197562 |
| Fiserv, Inc. <sup>(f)</sup> <br>| 2427 | 335363 |
| Intuit, Inc. | 1192 | 795064 |
| Microsoft Corp. | 27967 | 14170599 |
| MSCI, Inc. | 452 | 256609 |
| Oracle Corp. | 5928 | 1340499 |
| Palantir Technologies, Inc., Cl. A <sup>(f)</sup> <br>| 6840 | 1071896 |
| Paychex, Inc. | 1685 | 234982 |
| Paycom Software, Inc. | 408 | 92677 |
| Roper Technologies, Inc. | 283 | 148946 |
| Salesforce, Inc. | 3083 | 790019 |
| ServiceNow, Inc. <sup>(f)</sup> <br>| 633 | 580752 |
| Synopsys, Inc. <sup>(f)</sup> <br>| 446 | 269170 |
| Take-Two Interactive Software, Inc. <sup>(f)</sup> <br>| 443 | 103339 |
|  |  | **22008676** |

---

**41**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** |
| **Insurance — 1.6%** | **Insurance — 1.6%** | **Insurance — 1.6%** |
| Aflac, Inc. | 3275 | 349967 |
| American International Group, Inc. | 4315 | 350896 |
| Aon PLC, Cl. A | 551 | 202217 |
| Berkshire Hathaway, Inc., Cl. B <sup>(f)</sup> <br>| 6394 | 3216054 |
| Chubb Ltd. | 1244 | 342187 |
| Cincinnati Financial Corp. | 1075 | 165120 |
| Globe Life, Inc. | 498 | 69695 |
| Marsh & McLennan Cos., Inc. | 1500 | 308715 |
| MetLife, Inc. | 2105 | 171263 |
| Prudential Financial, Inc. | 2335 | 256056 |
| The Allstate Corp. | 1605 | 326537 |
| The Progressive Corp. | 3663 | 904981 |
| The Travelers Companies, Inc. | 1277 | 346718 |
| Willis Towers Watson PLC | 631 | 206204 |
|  |  | **7216610** |
| **Internet Software & Services — 6.0%** | **Internet Software & Services — 6.0%** | **Internet Software & Services — 6.0%** |
| Alphabet, Inc., Cl. A | 21275 | 4529660 |
| Alphabet, Inc., Cl. C | 20043 | 4279782 |
| Amazon.com, Inc. <sup>(f)</sup> <br>| 34372 | 7871188 |
| Booking Holdings, Inc. | 139 | 778268 |
| DoorDash, Inc., Cl. A <sup>(f)</sup> <br>| 868 | 212877 |
| eBay, Inc. | 2567 | 232596 |
| F5, Inc. <sup>(f)</sup> <br>| 460 | 144044 |
| Meta Platforms, Inc., Cl. A | 8055 | 5950228 |
| Netflix, Inc. <sup>(f)</sup> <br>| 1779 | 2149477 |
| Palo Alto Networks, Inc. <sup>(f)</sup> <br>| 2234 | 425622 |
| Uber Technologies, Inc. <sup>(f)</sup> <br>| 6020 | 564375 |
|  |  | **27138117** |
| **Materials — .0%** | **Materials — .0%** | **Materials — .0%** |
| Amcor PLC | 8195 | 70723 |
| Ball Corp. | 2175 | 114492 |
|  |  | **185215** |
| **Media — .3%** | **Media — .3%** | **Media — .3%** |
| Charter Communications, Inc., Cl. A <sup>(f)</sup> <br>| 398 | 105701 |
| Comcast Corp., Cl. A | 7826 | 265849 |
| Fox Corp., Cl. A | 1795 | 107162 |
| News Corp., Cl. A | 6050 | 177930 |
| The Walt Disney Company | 3483 | 412318 |
| Warner Bros Discovery, Inc. <sup>(f)</sup> <br>| 8360 | 97310 |
|  |  | **1166270** |
| **Metals & Mining — .1%** | **Metals & Mining — .1%** | **Metals & Mining — .1%** |
| Freeport-McMoRan, Inc. | 6340 | 281496 |
| Newmont Corp. | 4460 | 331824 |
|  |  | **613320** |
| **Real Estate — .8%** | **Real Estate — .8%** | **Real Estate — .8%** |
| Alexandria Real Estate Equities, Inc. <sup>(g)</sup> <br>| 760 | 62654 |
| American Tower Corp. <sup>(g)</sup> <br>| 1481 | 301902 |
| AvalonBay Communities, Inc. <sup>(g)</sup> <br>| 578 | 113201 |
| CBRE Group, Inc., Cl. A <sup>(f)</sup> <br>| 1730 | 280468 |
| Crown Castle, Inc. <sup>(g)</sup> <br>| 2449 | 242794 |

---

**42**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** |
| **Real Estate — .8% (continued)** | **Real Estate — .8% (continued)** | **Real Estate — .8% (continued)** |
| Digital Realty Trust, Inc. <sup>(g)</sup> <br>| 1366 | 228996 |
| Equinix, Inc. <sup>(g)</sup> <br>| 321 | 252367 |
| Essex Property Trust, Inc. <sup>(g)</sup> <br>| 460 | 124297 |
| Extra Space Storage, Inc. <sup>(g)</sup> <br>| 752 | 107972 |
| Federal Realty Investment Trust <sup>(g)</sup> <br>| 1140 | 114627 |
| Iron Mountain, Inc. <sup>(g)</sup> <br>| 2770 | 255754 |
| Prologis, Inc. <sup>(g)</sup> <br>| 955 | 108660 |
| Public Storage <sup>(g)</sup> <br>| 1155 | 340252 |
| Regency Centers Corp. <sup>(g)</sup> <br>| 1970 | 142825 |
| SBA Communications Corp. <sup>(g)</sup> <br>| 605 | 123934 |
| Simon Property Group, Inc. <sup>(g)</sup> <br>| 1964 | 354816 |
| UDR, Inc. <sup>(g)</sup> <br>| 1810 | 71622 |
| Welltower, Inc. <sup>(g)</sup> <br>| 2125 | 357595 |
|  |  | **3584736** |
| **Retailing — 2.1%** | **Retailing — 2.1%** | **Retailing — 2.1%** |
| AutoZone, Inc. <sup>(f)</sup> <br>| 111 | 466037 |
| Chipotle Mexican Grill, Inc. <sup>(f)</sup> <br>| 5600 | 235984 |
| Costco Wholesale Corp. | 1689 | 1593268 |
| Darden Restaurants, Inc. | 1035 | 214183 |
| Dollar General Corp. | 1395 | 151720 |
| Domino's Pizza, Inc. | 158 | 72411 |
| Lowe's Companies, Inc. | 2480 | 639989 |
| McDonald's Corp. | 2512 | 787613 |
| O'Reilly Automotive, Inc. <sup>(f)</sup> <br>| 4440 | 460339 |
| Starbucks Corp. | 2563 | 226031 |
| Target Corp. | 1091 | 104714 |
| The Home Depot, Inc. | 3684 | 1498541 |
| The TJX Companies, Inc. | 4056 | 554090 |
| Tractor Supply Co. | 4200 | 259392 |
| Ulta Beauty, Inc. <sup>(f)</sup> <br>| 169 | 83271 |
| Walmart, Inc. | 18327 | 1777352 |
| Yum! Brands, Inc. | 1012 | 148734 |
|  |  | **9273669** |
| **Semiconductors & Semiconductor Equipment — 5.8%** | **Semiconductors & Semiconductor Equipment — 5.8%** | **Semiconductors & Semiconductor Equipment — 5.8%** |
| Advanced Micro Devices, Inc. <sup>(f)</sup> <br>| 6166 | 1002777 |
| Analog Devices, Inc. | 2120 | 532777 |
| Applied Materials, Inc. | 3367 | 541279 |
| Broadcom, Inc. | 16042 | 4770730 |
| Intel Corp. | 11348 | 276324 |
| KLA Corp. | 775 | 675800 |
| Lam Research Corp. | 4800 | 480720 |
| Microchip Technology, Inc. | 1186 | 77090 |
| Micron Technology, Inc. | 3617 | 430459 |
| Monolithic Power Systems, Inc. | 122 | 101963 |
| NVIDIA Corp. | 91799 | 15989550 |
| NXP Semiconductors NV | 391 | 91826 |
| ON Semiconductor Corp. <sup>(f)</sup> <br>| 1255 | 62235 |
| QUALCOMM, Inc. | 4034 | 648385 |
| Texas Instruments, Inc. | 2939 | 595089 |
|  |  | **26277004** |

---

**43**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** |
| **Technology Hardware & Equipment — 3.6%** | **Technology Hardware & Equipment — 3.6%** | **Technology Hardware & Equipment — 3.6%** |
| Accenture PLC, Cl. A | 3162 | 822025 |
| Apple, Inc. | 55050 | 12779307 |
| Cognizant Technology Solutions Corp., Cl. A | 1910 | 137998 |
| CrowdStrike Holdings, Inc., Cl. A <sup>(f)</sup> <br>| 529 | 224137 |
| Dell Technologies, Inc., Cl. C | 1020 | 124593 |
| Fortinet, Inc. <sup>(f)</sup> <br>| 4585 | 361160 |
| Hewlett Packard Enterprise Co. | 4340 | 97954 |
| HP, Inc. | 3861 | 110193 |
| International Business Machines Corp. | 2935 | 714643 |
| Leidos Holdings, Inc. | 1450 | 262334 |
| NetApp, Inc. | 492 | 55493 |
| Seagate Technology Holdings PLC | 1105 | 184977 |
| Super Micro Computer, Inc. <sup>(f)</sup> <br>| 1940 | 80588 |
| Western Digital Corp. | 1645 | 132159 |
|  |  | **16087561** |
| **Telecommunication Services — .9%** | **Telecommunication Services — .9%** | **Telecommunication Services — .9%** |
| Arista Networks, Inc. <sup>(f)</sup> <br>| 5440 | 742832 |
| AT&T, Inc. | 26100 | 764469 |
| Cisco Systems, Inc. | 8935 | 617319 |
| Corning, Inc. | 3035 | 203436 |
| Motorola Solutions, Inc. | 428 | 202213 |
| T-Mobile US, Inc. | 2593 | 653410 |
| Verizon Communications, Inc. | 17363 | 767966 |
|  |  | **3951645** |
| **Transportation — .4%** | **Transportation — .4%** | **Transportation — .4%** |
| C.H. Robinson Worldwide, Inc. | 920 | 118404 |
| CSX Corp. | 3563 | 115833 |
| Expeditors International of Washington, Inc. | 778 | 93780 |
| FedEx Corp. | 1009 | 233150 |
| Norfolk Southern Corp. | 1441 | 403451 |
| Union Pacific Corp. | 3079 | 688372 |
|  |  | **1652990** |
| **Utilities — .9%** | **Utilities — .9%** | **Utilities — .9%** |
| American Electric Power Co., Inc. | 1016 | 112796 |
| American Water Works Co., Inc. | 881 | 126432 |
| CenterPoint Energy, Inc. | 5400 | 203634 |
| Consolidated Edison, Inc. | 3385 | 332509 |
| Constellation Energy Corp. | 1678 | 516791 |
| Dominion Energy, Inc. | 5420 | 324658 |
| DTE Energy Co. | 1047 | 143073 |
| Duke Energy Corp. | 570 | 69819 |
| Edison International | 2325 | 130502 |
| Entergy Corp. | 654 | 57611 |
| Evergy, Inc. | 5005 | 356656 |
| Exelon Corp. | 6870 | 300082 |
| FirstEnergy Corp. | 4175 | 182114 |
| NextEra Energy, Inc. | 7407 | 533674 |
| NiSource, Inc. | 3490 | 147522 |
| Pinnacle West Capital Corp. | 1855 | 165763 |
| Public Service Enterprise Group, Inc. | 2960 | 243697 |

---

**44**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** | **Common Stocks — 44.4% (continued)** |
| **Utilities — .9% (continued)** | **Utilities — .9% (continued)** | **Utilities — .9% (continued)** |
| The AES Corp. | 6450 | 87333 |
| Xcel Energy, Inc. | 2465 | 178441 |
|  |  | **4213107** |
| **Total Common Stocks** <br>(cost $64,586,664)<br>|  | **200463145** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Number of Rights |  |
| **Rights — .0%** | **Rights — .0%** | **Rights — .0%** |
| **Health Care Equipment & Services — .0%** | **Health Care Equipment & Services — .0%** | **Health Care Equipment & Services — .0%** |
| Abiomed, Inc., expiring 12/31/2049<sup>(h)</sup> <br>(cost $0)<br>| 390 | **472** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>| Shares |  |
| **Investment Companies — 45.0%** |  |  |  |
| **Registered Investment Companies — 45.0%** | **Registered Investment Companies — 45.0%** | **Registered Investment Companies — 45.0%** | **Registered Investment Companies — 45.0%** |
| BNY Mellon Corporate Bond Fund, Cl. M<sup>(i)</sup> <br>|  | 1609473 | 20037942 |
| BNY Mellon Developed Markets Real Estate Securities Fund, Cl. Y<sup>(i)</sup> <br>|  | 664270 | 5838933 |
| BNY Mellon Emerging Markets Fund, Cl. M<sup>(i)</sup> <br>|  | 943120 | 10855307 |
| BNY Mellon Floating Rate Income Fund, Cl. Y<sup>(i)</sup> <br>|  | 923647 | 10280187 |
| BNY Mellon High Yield Fund, Cl. I<sup>(i)</sup> <br>|  | 2667892 | 14593368 |
| BNY Mellon Income Stock Fund, Cl. M<sup>(i)</sup> <br>|  | 1232089 | 9363874 |
| BNY Mellon Intermediate Bond Fund, Cl. M<sup>(i)</sup> <br>|  | 1801804 | 21801830 |
| BNY Mellon International Equity Fund, Cl. Y<sup>(i)</sup> <br>|  | 3205189 | 59872936 |
| BNY Mellon International Fund, Cl. M<sup>(i)</sup> <br>|  | 21630 | 357973 |
| BNY Mellon Mid Cap Multi-Strategy Fund, Cl. M<sup>(i)</sup> <br>|  | 1313617 | 20334794 |
| BNY Mellon Research Growth Fund, Inc., Cl. Y<sup>(i)</sup> <br>|  | 700368 | 14602684 |
| BNY Mellon Small Cap Multi-Strategy Fund, Cl. M<sup>(i)</sup> <br>|  | 588086 | 12667373 |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(i)</sup> <br>| 4.41 | 2782683 | 2782683 |
| **Total Investment Companies** <br>(cost $186,501,595)<br>|  |  | **203389884** |
| **Investment of Cash Collateral for Securities Loaned — .1%** |  |  |  |
| **Registered Investment Companies — .1%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(i)</sup> <br>(cost $575,410)<br>| 4.41 | 575410 | **575410** |
| **Total Investments** (cost $300,521,985) |  | **100.1%** | **452402963** |
| **Liabilities, Less Cash and Receivables** |  | **(0.1%)** | **(607172)** |
| **Net Assets** |  | **100.0%** | **451795791** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security is a perpetual bond with no specified maturity date. Maturity date shown is next reset date of the bond.

<sup>(b)</sup> Security, or portion thereof, on loan. At August 31, 2025, the value of the fund's securities on loan was $3,197,901 and the value of the collateral was $3,288,263, consisting of cash collateral of $575,410 and U.S. Government & Agency securities valued at $2,712,853. In addition, the value of collateral may include pending sales that are also on loan. 

<sup>(c)</sup> 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 August 31, 2025, these securities amounted to $2,253,273 or 0.5% of net assets. 

<sup>(d)</sup> The Federal Housing Finance Agency ("FHFA") placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies. 

<sup>(e)</sup> Principal amount for accrual purposes is periodically adjusted based on changes in the Consumer Price Index.

<sup>(f)</sup> Non-income producing security.

<sup>(g)</sup> Investment in real estate investment trust within the United States.

**45**

------

SCHEDULES OF INVESTMENTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(h)</sup> The fund held Level 3 securities at August 31, 2025. These securities were valued at $472 or .0% of net assets.

<sup>(i)</sup> Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's prospectus. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** |
| **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** |
| Description | Value ($) <br>8/31/2024<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Net Realized <br>Gain (Loss) ($)<br>| Net Change in <br>Unrealized <br>Appreciation <br>(Depreciation) ($)<br>| Value ($) <br>8/31/2025<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - 45.0%** | **Registered Investment Companies - 45.0%** | **Registered Investment Companies - 45.0%** | **Registered Investment Companies - 45.0%** | **Registered Investment Companies - 45.0%** | **Registered Investment Companies - 45.0%** | **Registered Investment Companies - 45.0%** | **Registered Investment Companies - 45.0%** |
| BNY Mellon <br> Corporate <br> Bond Fund, Cl. <br> M - 4.4%<br>| 21226316 | 819555 | (2265494) | (239620) | 497185 | 20037942 | 819555 |
| BNY Mellon <br> Developed <br> Markets Real <br> Estate <br> Securities <br> Fund, Cl. Y - <br> 1.3%<br>| 16007889 | 231560 | (10148342) | 575632 | (827806) | 5838933 | 231560 |
| BNY Mellon <br> Emerging <br> Markets Fund, <br> Cl. M - 2.4%<br>| 9748317 | 59896 | - | - | 1047094 | 10855307 | 59896 |
| BNY Mellon <br> Floating Rate <br> Income Fund, <br> Cl. Y - 2.3%<br>| 9528920 | 762622 | - | - | (11355) | 10280187 | 762622 |
| BNY Mellon <br> High Yield <br> Fund, Cl. I - <br> 3.2%<br>| 15556817 | 1076630 | (2098975) | (439247) | 498143 | 14593368 | 1079565 |
| BNY Mellon <br> Income Stock <br> Fund, Cl. M - <br> 2.1%<br>| - | 8394891 | - | - | 968983 | 9363874 | 63890 |
| BNY Mellon <br> Intermediate <br> Bond Fund, Cl. <br> M - 4.8%<br>| 22759603 | 4728970 | (5762856) | (637854) | 713967 | 21801830 | 709121 |
| BNY Mellon <br> International <br> Equity Fund, <br> Cl. Y - 13.3%<br>| 36051444 | 27245784 | (2695264) | 53372 | (782400) | 59872936 | 10659413 |
| BNY Mellon <br> International <br> Fund, Cl. M - <br> .1%<br>| 318813 | 9491 | - | - | 29669 | 357973 | 9491 |
| BNY Mellon Mid <br> Cap Multi-<br> Strategy <br> Fund, Cl. M - <br> 4.5%<br>| 31054381 | 16946103 | (20801019) | (5705038) | (1159633) | 20334794 | 7970518 |

---

**46**

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** | **Affiliated Issuers (continued)** |
| Description | Value ($)<br> 8/31/2024<br>| Purchases ($)<sup>†</sup> | Sales ($) | Net Realized<br> Gain (Loss) ($)<br>| Net Change in<br> Unrealized <br> Appreciation<br> (Depreciation) ($)<br>| Value ($)<br> 8/31/2025<br>| Dividends/<br> Distributions ($)<br>|
| BNY Mellon <br> Research <br> Growth Fund, <br> Inc., Cl. Y - <br> 3.2%<br>| 25519881 | 5816177 | (16935785) | 1988709 | (1786298) | 14602684 | 1710070 |
| BNY Mellon <br> Short-Term <br> U.S. Government <br> Securities <br> Fund, Cl. M - <br> .0%<br>| 11491250 | 4461544 | (15970894) | 348620 | (330520) | - | 247396 |
| BNY Mellon <br> Small Cap <br> Multi-Strategy <br> Fund, Cl. M - <br> 2.8%<br>| 17842835 | 5826551 | (9418644) | (1500565) | (82804) | 12667373 | 1993940 |
| Dreyfus <br> Institutional <br> Preferred <br> Government <br> Plus Money <br> Market Fund, <br> Institutional <br> Shares - .6%<br>| 1685672 | 67780273 | (66683262) | - | - | 2782683 | 150870 |
| **Investment of Cash Collateral for Securities Loaned - .1%** | **Investment of Cash Collateral for Securities Loaned - .1%** | **Investment of Cash Collateral for Securities Loaned - .1%** | **Investment of Cash Collateral for Securities Loaned - .1%** | **Investment of Cash Collateral for Securities Loaned - .1%** | **Investment of Cash Collateral for Securities Loaned - .1%** | **Investment of Cash Collateral for Securities Loaned - .1%** | **Investment of Cash Collateral for Securities Loaned - .1%** |
| Dreyfus <br> Institutional <br> Preferred <br> Government <br> Plus Money <br> Market Fund, <br> Institutional <br> Shares - .1%<br>| 1124900 | 16726174 | (17275664) | - | - | 575410 | 7660 <br><sup>††</sup><br>|
| **Total - 45.1%** | **219917038** | **160886221** | **(170056199)** | **(5555991)** | **(1225775)** | **203965294** | **26475567** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| Includes reinvested dividends/distributions. |
| <sup>††</sup> <br>| Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and <br> other payments to and from borrowers of securities.<br>|

---

See notes to financial statements.

**47**

------

STATEMENTS OF ASSETS AND LIABILITIES

August 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | BNY Mellon Income <br>Stock Fund<br>| BNY Mellon Mid Cap <br>Multi-Strategy Fund<br>| BNY Mellon Small Cap <br>Multi-Strategy Fund<br>|
| **Assets ($):** |  |  |  |
| Investments in securities—See Schedules of Investments<sup>†</sup> <br>(including securities on loan)<sup>††</sup>—Note 1(c):<br>|  |  |  |
| Unaffiliated issuers | 165099107 | 653653090 | 193778221 |
| Affiliated issuers | 5565886 | 24433584 | 5954313 |
| Cash | - | 48 | - |
| Receivable for investment securities sold | 1763231 | 2492339 | 1049970 |
| Dividends and securities lending income receivable | 379120 | 563796 | 144571 |
| Tax reclaim receivable—Note 1(b)  | 81200 | 16078 | - |
| Receivable for shares of Beneficial Interest subscribed | 34140 | - | 23 |
| Prepaid expenses | 213179 | 29268 | 25277 |
|  | **173135863** | **681188203** | **200952375** |
| **Liabilities ($):** |  |  |  |
| Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(c)  | 125900 | 555969 | 189925 |
| Cash overdraft due to Custodian | 109671 | - | 179 |
| Payable for investment securities purchased | 1351929 | 2208271 | 1035215 |
| Reorganization expense payable—Note 5  | 246105 | - | - |
| Payable for shares of Beneficial Interest redeemed | 191485 | 485620 | 358753 |
| Trustees' fees and expenses payable | 6666 | 27281 | 9333 |
| Liability for securities on loan—Note 1(c)  | - | 1057481 | 558912 |
| Other accrued expenses | 37246 | 90112 | 38053 |
|  | **2069002** | **4424734** | **2190370** |
| **Net Assets ($)** | **171066861** | **676763469** | **198762005** |
| **Composition of Net Assets ($):** |  |  |  |
| Paid-in capital | 123025049 | 52692082 | 119366493 |
| Total distributable earnings (loss) | 48041812 | 624071387 | 79395512 |
| **Net Assets ($)** | **171066861** | **676763469** | **198762005** |
| <sup>†</sup>**Investments at cost ($)** |  |  |  |
| Unaffiliated issuers | 134771164 | 302506053 | 147584862 |
| Affiliated issuers | 5565886 | 24433584 | 5954313 |
| <sup>††</sup>**Value of securities on loan ($)** | **-** | **7477669** | **9450246** |

---

See notes to financial statements.

**48**

------

---

| | | | |
|:---|:---|:---|:---|
|  | BNY Mellon Income<br> Stock Fund<br>| BNY Mellon Mid Cap<br> Multi-Strategy Fund<br>| BNY Mellon Small Cap<br> Multi-Strategy Fund<br>|
| **Net Asset Value Per Share** |  |  |  |
| **Class M Shares** |  |  |  |
| Net Assets ($) | 117913948 | 586599659 | 175704015 |
| Shares Outstanding | 15520334 | 37899560 | 8157250 |
| **Net Asset Value Per Share ($)** | **7.60** | **15.48** | **21.54** |
| **Investor Shares** |  |  |  |
| Net Assets ($) | 11563831 | 90163810 | 23057990 |
| Shares Outstanding | 1473985 | 6083441 | 1173693 |
| **Net Asset Value Per Share ($)** | **7.85** | **14.82** | **19.65** |
| **Class A Shares** |  |  |  |
| Net Assets ($) | 5769300 | - | - |
| Shares Outstanding | 757707 | - | - |
| **Net Asset Value Per Share ($)** | **7.61** | **-** | **-** |
| **Class C Shares** |  |  |  |
| Net Assets ($) | 1203650 | - | - |
| Shares Outstanding | 159757 | - | - |
| **Net Asset Value Per Share ($)** | **7.53** | **-** | **-** |
| **Class I Shares** |  |  |  |
| Net Assets ($) | 33382774 | - | - |
| Shares Outstanding | 4391742 | - | - |
| **Net Asset Value Per Share ($)** | **7.60** | **-** | **-** |
| **Class Y Shares** |  |  |  |
| Net Assets ($) | 1233358 | - | - |
| Shares Outstanding | 162760 | - | - |
| **Net Asset Value Per Share ($)** | **7.58** | **-** | **-** |

---

See notes to financial statements.

**49**

------

STATEMENTS OF ASSETS AND LIABILITIES (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | BNY Mellon <br>International Fund<br>| BNY Mellon Emerging <br>Markets Fund<br>| BNY Mellon Asset <br>Allocation Fund<br>|
| **Assets ($):** |  |  |  |
| Investments in securities—See Schedules of Investments<sup>†</sup> <br>(including securities on loan)<sup>††</sup>—Note 1(c):<br>|  |  |  |
| Unaffiliated issuers | 224211317 | 165996354 | 248437669 |
| Affiliated issuers | 2129585 | 3435444 | 203965294 |
| Cash | - | 346 | - |
| Cash denominated in foreign currency<sup>†††</sup> <br>| 691506 | 1157168 | - |
| Tax reclaim receivable—Note 1(b)  | 2376357 | 6264 | - |
| Dividends, interest and securities lending income receivable | 677583 | 432133 | 884152 |
| Receivable for investment securities sold | 633401 | 4819464 | - |
| Receivable for shares of Beneficial Interest subscribed | - | - | 22400 |
| Prepaid expenses | 22780 | 23480 | 26044 |
|  | **230742529** | **175870653** | **453335559** |
| **Liabilities ($):** |  |  |  |
| Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(c)  | 174694 | 203103 | 201957 |
| Cash overdraft due to Custodian | - | - | 431454 |
| Liability for securities on loan—Note 1(c)  | 1742249 | 712515 | 575410 |
| Payable for shares of Beneficial Interest redeemed | 106951 | 35008 | 23534 |
| Trustees' fees and expenses payable | 10548 | 6666 | 16972 |
| Payable for foreign tax on capital gains—Note 1(b)  | - | 876422 | - |
| Payable for investment securities purchased | - | 4447447 | 234459 |
| Other accrued expenses | 44901 | 15024 | 55982 |
|  | **2079343** | **6296185** | **1539768** |
| **Net Assets ($)** | **228663186** | **169574468** | **451795791** |
| **Composition of Net Assets ($):** |  |  |  |
| Paid-in capital | 242553514 | 451443555 | 288019981 |
| Total distributable earnings (loss) | (13890328) | (281869087) | 163775810 |
| **Net Assets ($)** | **228663186** | **169574468** | **451795791** |
| <sup>†</sup>**Investments at cost ($)** |  |  |  |
| Unaffiliated issuers | 193868021 | 139197622 | 113444980 |
| Affiliated issuers | 2129585 | 3435444 | 187077005 |
| <sup>††</sup>**Value of securities on loan ($)** | **1652329** | **-** | **3197901** |
| <sup>†††</sup>**Cash denominated in foreign currency (cost) ($)** | **667044** | **1645663** | **-** |
| **Net Asset Value Per Share** |  |  |  |
| **Class M Shares** |  |  |  |
| Net Assets ($) | 210383497 | 152715394 | 440764995 |
| Shares Outstanding | 12709469 | 13265030 | 30024525 |
| **Net Asset Value Per Share ($)** | **16.55** | **11.51** | **14.68** |
| **Investor Shares** |  |  |  |
| Net Assets ($) | 18279689 | 16859074 | 11030796 |
| Shares Outstanding | 1023383 | 1419297 | 741449 |
| **Net Asset Value Per Share ($)** | **17.86** | **11.88** | **14.88** |

---

See notes to financial statements.

**50**

------

STATEMENTS OF OPERATIONS

Year Ended August 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | BNY Mellon Income <br>Stock Fund<br>| BNY Mellon Mid Cap <br>Multi-Strategy Fund<br>| BNY Mellon Small Cap <br>Multi-Strategy Fund<br>|
| **Investment Income ($):** |  |  |  |
| **Income:** |  |  |  |
| Cash dividends: |  |  |  |
| Unaffiliated issuers | 4483529 | 11614812 <br><sup>†</sup><br>| 2453602 <br><sup>†</sup><br>|
| Affiliated issuers | 290897 | 845834 | 237965 |
| Interest | 18 | 19204 | - |
| Affiliated income net of rebates from securities lending—Note 1(c)  | - | 60710 | 60530 |
| **Total Income** | **4774444** | **12540560** | **2752097** |
| **Expenses:** |  |  |  |
| Management fee—Note 3(a)  | 1216723 | 6810119 | 2113331 |
| Administration fee—Note 3(a)  | 263256 | 1275482 | 349398 |
| Reorganization expense—Note 5  | 139106 | - | - |
| Registration fees | 93334 | 34712 | 39301 |
| Shareholder servicing costs—Note 3(c)  | 81235 | 257561 | 60796 |
| Professional fees | 41663 | 97908 | 52234 |
| Trustees' fees and expenses—Note 3(d)  | 29122 | 139320 | 35405 |
| Chief Compliance Officer fees—Note 3(c)  | 25502 | 49313 | 30333 |
| Prospectus and shareholders' reports | 16010 | 27137 | 9494 |
| Shareholder and regulatory reports service fees—Note 3(c)  | 8583 | 7583 | 7583 |
| Distribution Plan fees—Note 3(b)  | 8443 | - | - |
| Custodian fees—Note 3(c)  | 7320 | 44860 | 43503 |
| Loan commitment fees—Note 2 | 3011 | 19344 | 3724 |
| Interest expense—Note 2 | - | 1824 | 1429 |
| Miscellaneous | 21680 | 74625 | 33513 |
| **Total Expenses** | **1954988** | **8839788** | **2780044** |
| Less—reduction in expenses due to undertaking—Note 3(a)  | (73403) | - | - |
| Less—reduction in fees due to earnings credits—Note 3(c)  | (394) | (906) | (621) |
| **Net Expenses** | **1881191** | **8838882** | **2779423** |
| **Net Investment Income (Loss)** | **2893253** | **3701678** | **(27326)** |
| **Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):** |  |  |  |
| Net realized gain (loss) on investments and foreign currency transactions | 31307170 | 400403197 | 61022410 |
| Net change in unrealized appreciation (depreciation) on investments <br>and foreign currency transactions<br>| (11233678) | (303895465) | (42431207) |
| **Net Realized and Unrealized Gain (Loss) on Investments** | **20073492** | **96507732** | **18591203** |
| **Net Increase in Net Assets Resulting from Operations** | **22966745** | **100209410** | **18563877** |
| <sup>†</sup>**Net of foreign taxes withheld at source ($)** | **-** | **17081** | **4975** |

---

See notes to financial statements.

**51**

------

STATEMENTS OF OPERATIONS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | BNY Mellon <br>International Fund<br>| BNY Mellon Emerging <br>Markets Fund<br>| BNY Mellon Asset <br>Allocation Fund<br>|
| **Investment Income ($):** |  |  |  |
| **Income:** |  |  |  |
| Cash dividends: |  |  |  |
| Unaffiliated issuers | 7451772 <br><sup>†</sup><br>| 3813916 <br><sup>†</sup><br>| 2427504 <br><sup>†</sup><br>|
| Affiliated issuers | 29162 | 112323 | 5083517 |
| Interest | 24343 | - | 2126682 |
| Affiliated income net of rebates from securities lending—Note 1(c)  | 5267 | 3888 | 7660 |
| **Total Income** | **7510544** | **3930127** | **9645363** |
| **Expenses:** |  |  |  |
| Management fee—Note 3(a)  | 1934348 | 2152439 | 1700231 |
| Administration fee—Note 3(a)  | 320278 | 263239 | 328869 |
| Professional fees | 48285 | 110324 | 79891 |
| Shareholder servicing costs—Note 3(c)  | 40399 | 42358 | 25871 |
| Trustees' fees and expenses—Note 3(d)  | 35677 | 28370 | 69991 |
| Registration fees | 33284 | 33963 | 34831 |
| Custodian fees—Note 3(c)  | 25100 | 115946 | 10279 |
| Chief Compliance Officer fees—Note 3(c)  | 24720 | 24872 | 29691 |
| Prospectus and shareholders' reports | 9377 | 10146 | 17104 |
| Shareholder and regulatory reports service fees—Note 3(c)  | 7583 | 7583 | 7583 |
| Loan commitment fees—Note 2 | 1629 | 3130 | 9792 |
| Interest expense—Note 2 | 189 | 9453 | - |
| Miscellaneous | 20912 | 33825 | 33849 |
| **Total Expenses** | **2501781** | **2835648** | **2347982** |
| Less—reduction in expenses due to undertaking—Note 3(a)  | (455472) | (467921) | (135118) |
| Less—reduction in fees due to earnings credits—Note 3(c)  | (162) | (194) | (72) |
| **Net Expenses** | **2046147** | **2367533** | **2212792** |
| **Net Investment Income** | **5464397** | **1562594** | **7432571** |
| **Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):** |  |  |  |
| Net realized gain (loss) on investments and foreign currency <br> transactions:<br>|  |  |  |
| Unaffiliated issuers | 18871507 | 28990949 | (1463151) |
| Affiliated issuers | - | - | (5555991) |
| Capital gain distributions from affiliated issuers | - | - | 21384390 |
| Net realized gain (loss) on foreign capital gains tax | - | (1091876) | - |
| **Net Realized Gain (Loss)** | **18871507** | **27899073** | **14365248** |
| Net change in unrealized appreciation (depreciation) on investments and <br> foreign currency transactions:<br>|  |  |  |
| Unaffiliated issuers | 110032 | (14544504) | 26851854 |
| Affiliated issuers | - | - | (1225775) |
| Net change in unrealized appreciation (depreciation) on foreign capital <br> gains tax<br>| - | 1311052 | - |
| **Net Change in Unrealized Appreciation (Depreciation)** | **110032** | **(13233452)** | **25626079** |
| **Net Realized and Unrealized Gain (Loss) on Investments** | **18981539** | **14665621** | **39991327** |
| **Net Increase in Net Assets Resulting from Operations** | **24445936** | **16228215** | **47423898** |
| <sup>†</sup>**Net of foreign taxes withheld at source ($)** | **789532** | **489030** | **371** |

---

See notes to financial statements.

**52**

------

STATEMENTS OF CHANGES IN NET ASSETS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Income <br>Stock Fund | BNY Mellon Income <br>Stock Fund | BNY Mellon Mid Cap <br>Multi-Strategy Fund | BNY Mellon Mid Cap <br>Multi-Strategy Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Operations ($):** |  |  |  |  |
| Net investment income | 2893253 | 5191000 | 3701678 | 5257657 |
| Net realized gain (loss) on investments | 31307170 | 50273039 | 400403197 | 297261992 |
| Net change in unrealized appreciation <br>(depreciation) on investments<br>| (11233678) | (11577266) | (303895465) | (102455023) |
| **Net Increase (Decrease) in Net Assets** <br>**Resulting from Operations**<br>| **22966745** | **43886773** | **100209410** | **200064626** |
| **Distributions ($):** |  |  |  |  |
| Distributions to shareholders: |  |  |  |  |
| Class M | (27440427) | (27416671) | (223657202) | (193447845) |
| Investor Shares | (2364579) | (1692455) | (27491427) | (17493282) |
| Class A | (931836) | (372719) | - | - |
| Class C | (197845) | (110986) | - | - |
| Class I | (7604875) | (6349534) | - | - |
| Class Y | (111044) | (42216) | - | - |
| **Total Distributions** | **(38650606)** | **(35984581)** | **(251148629)** | **(210941127)** |
| **Beneficial Interest Transactions ($):** |  |  |  |  |
| Net proceeds from shares sold: |  |  |  |  |
| Class M | 12860357 | 10499752 | 15348568 | 27740557 |
| Investor Shares | 3446759 | 3788834 | 17828824 | 35621525 |
| Class A | 1893080 | 2002916 | - | - |
| Class C | 108243 | 150897 | - | - |
| Class I | 11999738 | 34363779 | - | - |
| Class Y | 778111 | 445393 | - | - |
| Distributions reinvested: |  |  |  |  |
| Class M | 12002758 | 11504128 | 94014302 | 82453165 |
| Investor Shares | 1948384 | 1453584 | 23519634 | 14791117 |
| Class A | 920333 | 364857 | - | - |
| Class C | 197845 | 110986 | - | - |
| Class I | 7520456 | 6262762 | - | - |
| Class Y | 108981 | 40973 | - | - |
| Cost of shares redeemed: |  |  |  |  |
| Class M | (58418469) | (146937733) | (499469522) | (433826806) |
| Investor Shares | (5377820) | (9603153) | (53557454) | (54055122) |
| Class A | (1520814) | (968652) | - | - |
| Class C | (257835) | (168260) | - | - |
| Class I | (24129486) | (40470615) | - | - |
| Class Y | (495306) | (37560) | - | - |
| **Increase (Decrease) in Net Assets from Beneficial Interest** <br> **Transactions**<br>| **(36414685)** | **(127197112)** | **(402315648)** | **(327275564)** |
| **Total Increase (Decrease) in Net Assets** | **(52098546)** | **(119294920)** | **(553254867)** | **(338152065)** |
| **Net Assets ($):** |  |  |  |  |
| Beginning of Period | 223165407 | 342460327 | 1230018336 | 1568170401 |
| **End of Period** | **171066861** | **223165407** | **676763469** | **1230018336** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See notes to financial statements.

**53**

------

STATEMENTS OF CHANGES IN NET ASSETS (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Income <br>Stock Fund | BNY Mellon Income <br>Stock Fund | BNY Mellon Mid Cap <br>Multi-Strategy Fund | BNY Mellon Mid Cap <br>Multi-Strategy Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Capital Share Transactions (Shares):** |  |  |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 1869233 | 1413822 | 975073 | 1664448 |
| Shares issued for distributions reinvested | 1689851 | 1638517 | 6246798 | 5255141 |
| Shares redeemed | (7901757) | (19406747) | (32856995) | (26009788) |
| **Net Increase (Decrease) in Shares Outstanding** | **(4342673)** | **(16354408)** | **(25635124)** | **(19090199)** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 449299 | 481259 | 1168722 | 2209785 |
| Shares issued for distributions reinvested | 265371 | 200969 | 1629912 | 973740 |
| Shares redeemed | (720545) | (1244330) | (3751277) | (3387203) |
| **Net Increase (Decrease) in Shares Outstanding** | **(5875)** | **(562102)** | **(952643)** | **(203678)** |
| **Class A** |  |  |  |  |
| Shares sold | 260608 | 260455 | - | - |
| Shares issued for distributions reinvested | 129023 | 51524 | - | - |
| Shares redeemed | (210059) | (128178) | - | - |
| **Net Increase (Decrease) in Shares Outstanding** | **179572** | **183801** | **-** | **-** |
| **Class C** |  |  |  |  |
| Shares sold | 14418 | 19961 | - | - |
| Shares issued for distributions reinvested | 28059 | 15876 | - | - |
| Shares redeemed | (31996) | (22534) | - | - |
| **Net Increase (Decrease) in Shares Outstanding** | **10481** | **13303** | **-** | **-** |
| **Class I** |  |  |  |  |
| Shares sold | 1629506 | 4550918 | - | - |
| Shares issued for distributions reinvested | 1056714 | 888009 | - | - |
| Shares redeemed | (3283971) | (5459667) | - | - |
| **Net Increase (Decrease) in Shares Outstanding** | **(597751)** | **(20740)** | **-** | **-** |
| **Class Y** |  |  |  |  |
| Shares sold | 110177 | 60346 | - | - |
| Shares issued for distributions reinvested | 15335 | 5752 | - | - |
| Shares redeemed | (63565) | (5055) | - | - |
| **Net Increase (Decrease) in Shares Outstanding** | **61947** | **61043** | **-** | **-** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended August 31, 2025, 263,781 Class M shares representing $2,092,009 were exchanged for 256,390 Investor Shares for BNY Mellon Income Stock Fund and 1,064,791 Class M shares representing $16,895,871 were exchanged for 1,108,035 Investor Shares for BNY Mellon Mid Cap Multi-Strategy Fund. During the period ended August 31, 2024, 455,946 Class M shares representing $3,497,723 were exchanged for 444,583 Investor Shares and 2,908 Class A shares representing $23,034 were exchanged for 2,912 Class I shares for BNY Mellon Income Stock Fund and 1,982,261 Class M shares representing $33,021,748 were exchanged for 2,047,586 Investor Shares for BNY Mellon Mid Cap Multi-Strategy Fund. 

See notes to financial statements.

**54**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Small Cap <br>Multi-Strategy Fund | BNY Mellon Small Cap <br>Multi-Strategy Fund | BNY Mellon <br>International Fund | BNY Mellon <br>International Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Operations ($):** |  |  |  |  |
| Net investment income (loss) | (27326) | 1537599 | 5464397 | 7203305 |
| Net realized gain (loss) on investments | 61022410 | 22390335 | 18871507 | 13628505 |
| Net change in unrealized appreciation <br>(depreciation) on investments<br>| (42431207) | 3199084 | 110032 | 16358547 |
| **Net Increase (Decrease) in Net Assets** <br>**Resulting from Operations**<br>| **18563877** | **27127018** | **24445936** | **37190357** |
| **Distributions ($):** |  |  |  |  |
| Distributions to shareholders: |  |  |  |  |
| Class M | (26219328) | (2922894) | (6741134) | (9716986) |
| Investor Shares | (2793284) | (106835) | (429901) | (499388) |
| **Total Distributions** | **(29012612)** | **(3029729)** | **(7171035)** | **(10216374)** |
| **Beneficial Interest Transactions ($):** |  |  |  |  |
| Net proceeds from shares sold: |  |  |  |  |
| Class M | 4575034 | 63638336 | 605863 | 1039282 |
| Investor Shares | 2186584 | 10257813 | 6792597 | 5486087 |
| Distributions reinvested: |  |  |  |  |
| Class M | 10641143 | 1003289 | 834734 | 1300256 |
| Investor Shares | 2426960 | 88720 | 348764 | 426105 |
| Cost of shares redeemed: |  |  |  |  |
| Class M | (124117632) | (411323072) | (45376962) | (65860163) |
| Investor Shares | (7996928) | (11951008) | (6659234) | (6260743) |
| **Increase (Decrease) in Net Assets from Beneficial Interest** <br> **Transactions**<br>| **(112284839)** | **(348285922)** | **(43454238)** | **(63869176)** |
| **Total Increase (Decrease) in Net Assets** | **(122733574)** | **(324188633)** | **(26179337)** | **(36895193)** |
| **Net Assets ($):** |  |  |  |  |
| Beginning of Period | 321495579 | 645684212 | 254842523 | 291737716 |
| **End of Period** | **198762005** | **321495579** | **228663186** | **254842523** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See notes to financial statements.

**55**

------

STATEMENTS OF CHANGES IN NET ASSETS (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Small Cap <br>Multi-Strategy Fund | BNY Mellon Small Cap <br>Multi-Strategy Fund | BNY Mellon <br>International Fund | BNY Mellon <br>International Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Capital Share Transactions (Shares):** |  |  |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 208516 | 3305893 | 42344 | 74661 |
| Shares issued for distributions reinvested | 517062 | 51189 | 60053 | 95537 |
| Shares redeemed | (6279674) | (21185058) | (3055374) | (4759079) |
| **Net Increase (Decrease) in Shares Outstanding** | **(5554096)** | **(17827976)** | **(2952977)** | **(4588881)** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 112216 | 579952 | 415357 | 368551 |
| Shares issued for distributions reinvested | 129094 | 4910 | 23220 | 29046 |
| Shares redeemed | (433233) | (673096) | (422168) | (419962) |
| **Net Increase (Decrease) in Shares Outstanding** | **(191923)** | **(88234)** | **16409** | **(22365)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended August 31, 2025, 85,673 Class M shares representing $1,814,073 were exchanged for 93,486 Investor Shares for BNY Mellon Small Cap Multi-Strategy Fund and 437,954 Class M shares representing $6,638,201 were exchanged for 405,805 Investor Shares for BNY Mellon International Fund. During the period ended August 31, 2024, 518,965 Class M shares representing $9,985,330 were exchanged for 563,335 Investor Shares for BNY Mellon Small Cap Multi-Strategy Fund and 391,890 Class M shares representing $5,434,358 were exchanged for 364,199 Investor Shares for BNY Mellon International Fund. 

See notes to financial statements.

**56**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Emerging <br>Markets Fund | BNY Mellon Emerging <br>Markets Fund | BNY Mellon Asset <br>Allocation Fund | BNY Mellon Asset <br>Allocation Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Operations ($):** |  |  |  |  |
| Net investment income | 1562594 | 2039330 | 7432571 | 7846533 |
| Net realized gain (loss) on investments | 27899073 | 20962038 | 14365248 | 10634320 |
| Net change in unrealized appreciation <br>(depreciation) on investments<br>| (13233452) | (491333) | 25626079 | 50366428 |
| **Net Increase (Decrease) in Net Assets** <br>**Resulting from Operations**<br>| **16228215** | **22510035** | **47423898** | **68847281** |
| **Distributions ($):** |  |  |  |  |
| Distributions to shareholders: |  |  |  |  |
| Class M | (1141844) | (4188931) | (20836354) | (9077679) |
| Investor Shares | (63274) | (269342) | (494387) | (158734) |
| **Total Distributions** | **(1205118)** | **(4458273)** | **(21330741)** | **(9236413)** |
| **Beneficial Interest Transactions ($):** |  |  |  |  |
| Net proceeds from shares sold: |  |  |  |  |
| Class M | 1785530 | 4204140 | 14458091 | 15104288 |
| Investor Shares | 3624339 | 8646768 | 2591719 | 4660069 |
| Distributions reinvested: |  |  |  |  |
| Class M | 198763 | 760127 | 8614945 | 1773657 |
| Investor Shares | 51385 | 214905 | 378719 | 131441 |
| Cost of shares redeemed: |  |  |  |  |
| Class M | (60710576) | (122925187) | (46447306) | (57524282) |
| Investor Shares | (6521315) | (12154258) | (3282872) | (3186824) |
| **Increase (Decrease) in Net Assets from Beneficial Interest** <br> **Transactions**<br>| **(61571874)** | **(121253505)** | **(23686704)** | **(39041651)** |
| **Total Increase (Decrease) in Net Assets** | **(46548777)** | **(103201743)** | **2406453** | **20569217** |
| **Net Assets ($):** |  |  |  |  |
| Beginning of Period | 216123245 | 319324988 | 449389338 | 428820121 |
| **End of Period** | **169574468** | **216123245** | **451795791** | **449389338** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See notes to financial statements.

**57**

------

STATEMENTS OF CHANGES IN NET ASSETS (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Emerging <br>Markets Fund | BNY Mellon Emerging <br>Markets Fund | BNY Mellon Asset <br>Allocation Fund | BNY Mellon Asset <br>Allocation Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Capital Share Transactions (Shares):** |  |  |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 166905 | 430177 | 1041742 | 1193420 |
| Shares issued for distributions reinvested | 19185 | 79180 | 638097 | 141503 |
| Shares redeemed | (5942127) | (12715727) | (3347314) | (4519452) |
| **Net Increase (Decrease) in Shares Outstanding** | **(5756037)** | **(12206370)** | **(1667475)** | **(3184529)** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 332357 | 860092 | 182193 | 354411 |
| Shares issued for distributions reinvested | 4797 | 21664 | 27527 | 10237 |
| Shares redeemed | (619452) | (1210029) | (237098) | (241711) |
| **Net Increase (Decrease) in Shares Outstanding** | **(282298)** | **(328273)** | **(27378)** | **122937** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended August 31, 2025, 287,567 Class M shares representing $3,040,529 were exchanged for 278,626 Investor Shares for BNY Mellon Emerging Markets Fund and 182,433 Class M shares representing $2,562,401 were exchanged for 180,099 Investor Shares for BNY Mellon Asset Allocation Fund. During the period ended August 31, 2024, 485,929 Class M shares representing $4,729,498 were exchanged for 471,138 Investor Shares for BNY Mellon Emerging Markets Fund and 349,520 Class M shares representing $4,554,925 were exchanged for 345,201 Investor Shares for BNY Mellon Asset Allocation Fund. 

See notes to financial statements.

**58**

------

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.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Income Stock Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 8.20 | 7.80 | 8.84 | 10.36 | 7.34 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .12 | .15 | .17 | .19 | .18 |
| Net realized and unrealized gain (loss) on investments | .84 | 1.19 | .79 | .24 | 3.02 |
| Total from Investment Operations | .96 | 1.34 | .96 | .43 | 3.20 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.13)<br>| (.16)<br>| (.17)<br>| (.19)<br>| (.18)<br>|
| Dividends from net realized gain on investments | (1.43)<br>| (.78)<br>| (1.83)<br>| (1.76)<br>| - |
| Total Distributions | (1.56)<br>| (.94)<br>| (2.00)<br>| (1.95)<br>| (.18)<br>|
| Net asset value, end of period | 7.60 | 8.20 | 7.80 | 8.84 | 10.36 |
| **Total Return (%)** | 13.25 | 19.31 | 12.06 | 4.22 | 44.06 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | 1.00 | .90 | .86 | .83 | .83 |
| Ratio of net expenses to average net assets | .98 <br><sup>(b),(c)</sup><br>| .90 <br><sup>(c)</sup><br>| .86 <br><sup>(c)</sup><br>| .83 | .83 |
| Ratio of net investment income to average net assets | 1.58 <br><sup>(b),(c)</sup><br>| 1.95 <br><sup>(c)</sup><br>| 2.15 <br><sup>(c)</sup><br>| 1.99 | 2.02 |
| Portfolio Turnover Rate | 78.49 | 92.12 | 83.54 | 83.04 | 69.79 |
| **Net Assets, end of period ($ x 1,000)** | 117914 | 162956 | 282598 | 429623 | 554602 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**59**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Income Stock Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 8.42 | 7.99 | 9.00 | 10.52 | 7.44 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .10 | .13 | .15 | .17 | .16 |
| Net realized and unrealized gain (loss) on investments | .87 | 1.22 | .82 | .23 | 3.08 |
| Total from Investment Operations | .97 | 1.35 | .97 | .40 | 3.24 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.11)<br>| (.14)<br>| (.15)<br>| (.16)<br>| (.16)<br>|
| Dividends from net realized gain on investments | (1.43)<br>| (.78)<br>| (1.83)<br>| (1.76)<br>| - |
| Total Distributions | (1.54)<br>| (.92)<br>| (1.98)<br>| (1.92)<br>| (.16)<br>|
| Net asset value, end of period | 7.85 | 8.42 | 7.99 | 9.00 | 10.52 |
| **Total Return (%)** | 12.98 | 18.94 | 11.93 | 3.87 | 43.91 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | 1.25 | 1.15 | 1.11 | 1.08 | 1.08 |
| Ratio of net expenses to average net assets | 1.23 <br><sup>(b),(c)</sup><br>| 1.15 <br><sup>(c)</sup><br>| 1.11 <br><sup>(c)</sup><br>| 1.08 | 1.08 |
| Ratio of net investment income to average net assets | 1.33 <br><sup>(b),(c)</sup><br>| 1.71 <br><sup>(c)</sup><br>| 1.90 <br><sup>(c)</sup><br>| 1.76 | 1.77 |
| Portfolio Turnover Rate | 78.49 | 92.12 | 83.54 | 83.04 | 69.79 |
| **Net Assets, end of period ($ x 1,000)** | 11564 | 12463 | 16305 | 19747 | 16125 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**60**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class A Shares | Class A Shares | Class A Shares | Class A Shares | Class A Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Income Stock Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 8.22 | 7.81 | 8.85 | 10.37 | 7.34 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .10 | .13 | .15 | .16 | .15 |
| Net realized and unrealized gain (loss) on investments | .83 | 1.20 | .79 | .24 | 3.03 |
| Total from Investment Operations | .93 | 1.33 | .94 | .40 | 3.18 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.11)<br>| (.14)<br>| (.15)<br>| (.16)<br>| (.15)<br>|
| Dividends from net realized gain on investments | (1.43)<br>| (.78)<br>| (1.83)<br>| (1.76)<br>| - |
| Total Distributions | (1.54)<br>| (.92)<br>| (1.98)<br>| (1.92)<br>| (.15)<br>|
| Net asset value, end of period | 7.61 | 8.22 | 7.81 | 8.85 | 10.37 |
| **Total Return (%)**<sup>(b)</sup> <br>| 12.79 | 19.13 | 11.72 | 3.85 | 43.74 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | 1.35 | 1.27 | 1.23 | 1.20 | 1.20 |
| Ratio of net expenses to average net assets<sup>(c)</sup> <br>| 1.24 <br><sup>(d)</sup><br>| 1.15 <br><sup>(d)</sup><br>| 1.15 <br><sup>(d)</sup><br>| 1.15 | 1.15 |
| Ratio of net investment income to average net assets<sup>(c)</sup> <br>| 1.31 <br><sup>(d)</sup><br>| 1.68 <br><sup>(d)</sup><br>| 1.84 <br><sup>(d)</sup><br>| 1.68 | 1.68 |
| Portfolio Turnover Rate | 78.49 | 92.12 | 83.54 | 83.04 | 69.79 |
| **Net Assets, end of period ($ x 1,000)** | 5769 | 4751 | 3082 | 2007 | 1718 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Exclusive of sales charge.

<sup>(c)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(d)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**61**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class C Shares | Class C Shares | Class C Shares | Class C Shares | Class C Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Income Stock Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 8.15 | 7.76 | 8.80 | 10.33 | 7.32 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .04 | .07 | .09 | .09 | .09 |
| Net realized and unrealized gain (loss) on investments | .82 | 1.18 | .79 | .23 | 3.01 |
| Total from Investment Operations | .86 | 1.25 | .88 | .32 | 3.10 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.05)<br>| (.08)<br>| (.09)<br>| (.09)<br>| (.09)<br>|
| Dividends from net realized gain on investments | (1.43)<br>| (.78)<br>| (1.83)<br>| (1.76)<br>| - |
| Total Distributions | (1.48)<br>| (.86)<br>| (1.92)<br>| (1.85)<br>| (.09)<br>|
| Net asset value, end of period | 7.53 | 8.15 | 7.76 | 8.80 | 10.33 |
| **Total Return (%)**<sup>(b)</sup> <br>| 11.94 | 18.14 | 11.00 | 3.03 | 42.59 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | 2.11 | 2.02 | 1.94 | 1.93 | 1.93 |
| Ratio of net expenses to average net assets<sup>(c)</sup> <br>| 1.99 <br><sup>(d)</sup><br>| 1.90 <br><sup>(d)</sup><br>| 1.90 <br><sup>(d)</sup><br>| 1.90 | 1.90 |
| Ratio of net investment income to average net assets<sup>(c)</sup> <br>| .56 <br><sup>(d)</sup><br>| .95 <br><sup>(d)</sup><br>| 1.11 <br><sup>(d)</sup><br>| .93 | .96 |
| Portfolio Turnover Rate | 78.49 | 92.12 | 83.54 | 83.04 | 69.79 |
| **Net Assets, end of period ($ x 1,000)** | 1204 | 1216 | 1055 | 1060 | 629 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Exclusive of sales charge.

<sup>(c)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(d)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**62**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class I Shares | Class I Shares | Class I Shares | Class I Shares | Class I Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Income Stock Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 8.21 | 7.81 | 8.84 | 10.36 | 7.34 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .12 | .15 | .17 | .18 | .17 |
| Net realized and unrealized gain (loss) on investments | .83 | 1.19 | .80 | .24 | 3.03 |
| Total from Investment Operations | .95 | 1.34 | .97 | .42 | 3.20 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.13)<br>| (.16)<br>| (.17)<br>| (.18)<br>| (.18)<br>|
| Dividends from net realized gain on investments | (1.43)<br>| (.78)<br>| (1.83)<br>| (1.76)<br>| - |
| Total Distributions | (1.56)<br>| (.94)<br>| (2.00)<br>| (1.94)<br>| (.18)<br>|
| Net asset value, end of period | 7.60 | 8.21 | 7.81 | 8.84 | 10.36 |
| **Total Return (%)** | 13.11 | 19.29 | 12.16 | 4.13 | 43.96 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | 1.08 | .97 | .94 | .89 | .89 |
| Ratio of net expenses to average net assets | .98 <br><sup>(b),(c)</sup><br>| .90 <br><sup>(b),(c)</sup><br>| .90 <br><sup>(b),(c)</sup><br>| .89 | .89 |
| Ratio of net investment income to average net assets | 1.57 <br><sup>(b),(c)</sup><br>| 1.98 <br><sup>(b),(c)</sup><br>| 2.11 <br><sup>(b),(c)</sup><br>| 1.96 | 1.96 |
| Portfolio Turnover Rate | 78.49 | 92.12 | 83.54 | 83.04 | 69.79 |
| **Net Assets, end of period ($ x 1,000)** | 33383 | 40953 | 39110 | 18255 | 8530 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**63**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class Y Shares | Class Y Shares | Class Y Shares | Class Y Shares | Class Y Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Income Stock Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 8.19 | 7.79 | 8.83 | 10.35 | 7.33 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .11 | .15 | .19 | .20 | .18 |
| Net realized and unrealized gain (loss) on investments | .84 | 1.19 | .77 | .23 | 3.02 |
| Total from Investment Operations | .95 | 1.34 | .96 | .43 | 3.20 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.13)<br>| (.16)<br>| (.17)<br>| (.19)<br>| (.18)<br>|
| Dividends from net realized gain on investments | (1.43)<br>| (.78)<br>| (1.83)<br>| (1.76)<br>| - |
| Total Distributions | (1.56)<br>| (.94)<br>| (2.00)<br>| (1.95)<br>| (.18)<br>|
| Net asset value, end of period | 7.58 | 8.19 | 7.79 | 8.83 | 10.35 |
| **Total Return (%)** | 13.15 | 19.35 | 12.09 | 4.21 | 44.11 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | 1.08 | .93 | .87 | .83 | .83 |
| Ratio of net expenses to average net assets | 1.03 <br><sup>(b),(c)</sup><br>| .90 <br><sup>(b),(c)</sup><br>| .87 <br><sup>(b),(c)</sup><br>| .83 | .83 |
| Ratio of net investment income to average net assets | 1.52 <br><sup>(b),(c)</sup><br>| 1.94 <br><sup>(b),(c)</sup><br>| 2.20 <br><sup>(b),(c)</sup><br>| 2.00 | 2.01 |
| Portfolio Turnover Rate | 78.49 | 92.12 | 83.54 | 83.04 | 69.79 |
| **Net Assets, end of period ($ x 1,000)** | 1233 | 825 | 310 | 426 | 779 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**64**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Mid Cap Multi-Strategy Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 17.49 | 17.49 | 17.86 | 24.69 | 19.28 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .07 | .07 | .09 | .06 | .04 |
| Net realized and unrealized gain (loss) on investments | 1.87 | 2.49 | 1.65 | (4.01)<br>| 6.99 |
| Total from Investment Operations | 1.94 | 2.56 | 1.74 | (3.95)<br>| 7.03 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.06)<br>| (.09)<br>| (.08)<br>| (.02)<br>| (.08)<br>|
| Dividends from net realized gain on investments | (3.89)<br>| (2.47)<br>| (2.03)<br>| (2.86)<br>| (1.54)<br>|
| Total Distributions | (3.95)<br>| (2.56)<br>| (2.11)<br>| (2.88)<br>| (1.62)<br>|
| Net asset value, end of period | 15.48 | 17.49 | 17.49 | 17.86 | 24.69 |
| **Total Return (%)** | 11.77 | 16.31 | 10.50 | (17.82)<br>| 38.15 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets<sup>(b)</sup> <br>| .95 | .93 | .92 | .90 | .90 |
| Ratio of net expenses to average net assets<sup>(b)</sup> <br>| .95 <br><sup>(c)</sup><br>| .93 <br><sup>(c)</sup><br>| .92 <br><sup>(c)</sup><br>| .90 | .90 |
| Ratio of net investment income to average net assets<sup>(b)</sup> <br>| .44 <br><sup>(c)</sup><br>| .41 <br><sup>(c)</sup><br>| .52 <br><sup>(c)</sup><br>| .31 | .18 |
| Portfolio Turnover Rate | 45.73 | 35.97 | 26.34 | 22.23 | 31.74 |
| **Net Assets, end of period ($ x 1,000)** | 586600 | 1111121 | 1445234 | 1816047 | 2831948 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount does not include the expenses of the underlying funds.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**65**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Mid Cap Multi-Strategy Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 16.90 | 16.98 | 17.40 | 24.16 | 18.90 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income (loss)<sup>(a)</sup> <br>| .03 | .03 | .04 | .01 | (.02)<br>|
| Net realized and unrealized gain (loss) on investments | 1.80 | 2.40 | 1.60 | (3.91)<br>| 6.86 |
| Total from Investment Operations | 1.83 | 2.43 | 1.64 | (3.90)<br>| 6.84 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.02)<br>| (.04)<br>| (.03)<br>| - | (.04)<br>|
| Dividends from net realized gain on investments | (3.89)<br>| (2.47)<br>| (2.03)<br>| (2.86)<br>| (1.54)<br>|
| Total Distributions | (3.91)<br>| (2.51)<br>| (2.06)<br>| (2.86)<br>| (1.58)<br>|
| Net asset value, end of period | 14.82 | 16.90 | 16.98 | 17.40 | 24.16 |
| **Total Return (%)** | 11.47 | 16.02 | 10.18 | (18.00)<br>| 37.83 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets<sup>(b)</sup> <br>| 1.20 | 1.18 | 1.17 | 1.15 | 1.15 |
| Ratio of net expenses to average net assets<sup>(b)</sup> <br>| 1.20 <br><sup>(c)</sup><br>| 1.18 <br><sup>(c)</sup><br>| 1.17 <br><sup>(c)</sup><br>| 1.15 | 1.15 |
| Ratio of net investment income (loss) to average net assets<sup>(b)</sup> <br>| .19 <br><sup>(c)</sup><br>| .16 <br><sup>(c)</sup><br>| .27 <br><sup>(c)</sup><br>| .06 | (.08)<br>|
| Portfolio Turnover Rate | 45.73 | 35.97 | 26.34 | 22.23 | 31.74 |
| **Net Assets, end of period ($ x 1,000)** | 90164 | 118898 | 122937 | 133236 | 174867 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount does not include the expenses of the underlying funds.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**66**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Small Cap Multi-Strategy Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 21.48 | 19.64 | 19.76 | 26.07 | 19.28 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income (loss)<sup>(a)</sup> <br>| .00 <br><sup>(b)</sup><br>| .07 | .05 | (.00 )<sup>(b)</sup><br>| (.05)<br>|
| Net realized and unrealized gain (loss) on investments | 2.21 | 1.88 | .34 | (3.37)<br>| 6.99 |
| Total from Investment Operations | 2.21 | 1.95 | .39 | (3.37)<br>| 6.94 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.27)<br>| (.03)<br>| - | - | - |
| Dividends from net realized gain on investments | (1.88)<br>| (.08)<br>| (.51)<br>| (2.94)<br>| (.15)<br>|
| Total Distributions | (2.15)<br>| (.11)<br>| (.51)<br>| (2.94)<br>| (.15)<br>|
| Net asset value, end of period | 21.54 | 21.48 | 19.64 | 19.76 | 26.07 |
| **Total Return (%)** | 10.73 | 9.97 | 2.15 | (14.23)<br>| 36.05 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | 1.09 | 1.06 | 1.04 | 1.01 | 1.01 |
| Ratio of net expenses to average net assets | 1.09 <br><sup>(c)</sup><br>| 1.06 <br><sup>(c)</sup><br>| 1.04 <br><sup>(c)</sup><br>| 1.01 | 1.01 |
| Ratio of net investment income (loss) to average net assets | .01 <br><sup>(c)</sup><br>| .34 <br><sup>(c)</sup><br>| .27 <br><sup>(c)</sup><br>| (.01)<br>| (.19)<br>|
| Portfolio Turnover Rate | 74.67 | 60.95 | 56.56 | 52.04 | 55.94 |
| **Net Assets, end of period ($ x 1,000)** | 175704 | 294498 | 619375 | 583546 | 933506 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount represents less than $.01 per share.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**67**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Small Cap Multi-Strategy Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 19.77 | 18.10 | 18.30 | 24.41 | 18.11 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income (loss)<sup>(a)</sup> <br>| (.04)<br>| .02 | .00 <br><sup>(b)</sup><br>| (.05)<br>| (.10)<br>|
| Net realized and unrealized gain (loss) on investments | 2.02 | 1.73 | .31 | (3.12)<br>| 6.55 |
| Total from Investment Operations | 1.98 | 1.75 | .31 | (3.17)<br>| 6.45 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.22)<br>| - | - | - | - |
| Dividends from net realized gain on investments | (1.88)<br>| (.08)<br>| (.51)<br>| (2.94)<br>| (.15)<br>|
| Total Distributions | (2.10)<br>| (.08)<br>| (.51)<br>| (2.94)<br>| (.15)<br>|
| Net asset value, end of period | 19.65 | 19.77 | 18.10 | 18.30 | 24.41 |
| **Total Return (%)** | 10.47 | 9.68 | 1.88 | (14.40)<br>| 35.68 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | 1.34 | 1.31 | 1.29 | 1.26 | 1.26 |
| Ratio of net expenses to average net assets | 1.34 <br><sup>(c)</sup><br>| 1.31 <br><sup>(c)</sup><br>| 1.29 <br><sup>(c)</sup><br>| 1.26 | 1.26 |
| Ratio of net investment income (loss) to average net assets | (.24 )<sup>(c)</sup><br>| .09 <br><sup>(c)</sup><br>| .02 <br><sup>(c)</sup><br>| (.26)<br>| (.44)<br>|
| Portfolio Turnover Rate | 74.67 | 60.95 | 56.56 | 52.04 | 55.94 |
| **Net Assets, end of period ($ x 1,000)** | 23058 | 26997 | 26309 | 28378 | 34249 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount represents less than $.01 per share.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**68**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon International Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 15.22 | 13.66 | 11.71 | 15.38 | 12.78 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .36 | .39 | .41 | .33 | .27 |
| Net realized and unrealized gain (loss) on investments | 1.42 | 1.69 | 2.10 | (3.71)<br>| 2.64 |
| Total from Investment Operations | 1.78 | 2.08 | 2.51 | (3.38)<br>| 2.91 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.45)<br>| (.52)<br>| (.56)<br>| (.29)<br>| (.31)<br>|
| Net asset value, end of period | 16.55 | 15.22 | 13.66 | 11.71 | 15.38 |
| **Total Return (%)** | 12.28 | 15.71 | 21.91 | (22.39)<br>| 23.04 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets<sup>(b)</sup> <br>| 1.08 | 1.08 | 1.07 | 1.03 | 1.03 |
| Ratio of net expenses to average net assets<sup>(b)</sup> <br>| .88 <br><sup>(c),(d)</sup><br>| .88 <br><sup>(c),(d)</sup><br>| .99 <br><sup>(c),(d)</sup><br>| 1.03 | 1.03 |
| Ratio of net investment income to average net assets<sup>(b)</sup> <br>| 2.42 <br><sup>(c),(d)</sup><br>| 2.77 <br><sup>(c),(d)</sup><br>| 3.17 <br><sup>(c),(d)</sup><br>| 2.33 | 1.86 |
| Portfolio Turnover Rate | 80.17 | 50.18 | 63.06 | 78.04 | 56.01 |
| **Net Assets, end of period ($ x 1,000)** | 210383 | 238347 | 276642 | 337994 | 603937 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount does not include the expenses of the underlying funds.

<sup>(c)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(d)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**69**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon International Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 16.38 | 14.67 | 12.53 | 16.44 | 13.65 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .35 | .38 | .40 | .31 | .25 |
| Net realized and unrealized gain (loss) on investments | 1.55 | 1.82 | 2.26 | (3.97)<br>| 2.81 |
| Total from Investment Operations | 1.90 | 2.20 | 2.66 | (3.66)<br>| 3.06 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.42)<br>| (.49)<br>| (.52)<br>| (.25)<br>| (.27)<br>|
| Net asset value, end of period | 17.86 | 16.38 | 14.67 | 12.53 | 16.44 |
| **Total Return (%)** | 12.05 | 15.36 | 21.64 | (22.57)<br>| 22.66 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets<sup>(b)</sup> <br>| 1.33 | 1.33 | 1.32 | 1.28 | 1.28 |
| Ratio of net expenses to average net assets<sup>(b)</sup> <br>| 1.13 <br><sup>(c),(d)</sup><br>| 1.13 <br><sup>(c),(d)</sup><br>| 1.24 <br><sup>(c),(d)</sup><br>| 1.28 | 1.28 |
| Ratio of net investment income to average net assets<sup>(b)</sup> <br>| 2.17 <br><sup>(c),(d)</sup><br>| 2.52 <br><sup>(c),(d)</sup><br>| 2.92 <br><sup>(c),(d)</sup><br>| 2.08 | 1.62 |
| Portfolio Turnover Rate | 80.17 | 50.18 | 63.06 | 78.04 | 56.01 |
| **Net Assets, end of period ($ x 1,000)** | 18280 | 16495 | 15096 | 15355 | 19392 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount does not include the expenses of the underlying funds.

<sup>(c)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(d)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**70**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Emerging Markets Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 10.40 | 9.58 | 10.77 | 14.15 | 11.35 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .09 | .08 | .06 | .50 | .24 |
| Net realized and unrealized gain (loss) on investments | 1.08 | .90 | .03 | (3.61)<br>| 2.71 |
| Total from Investment Operations | 1.17 | .98 | .09 | (3.11)<br>| 2.95 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.06)<br>| (.16)<br>| (1.28)<br>| (.27)<br>| (.15)<br>|
| Net asset value, end of period | 11.51 | 10.40 | 9.58 | 10.77 | 14.15 |
| **Total Return (%)** | 11.36 | 10.42 | 1.02 | (22.31)<br>| 26.19 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | 1.49 | 1.52 | 1.52 | 1.43 | 1.39 |
| Ratio of net expenses to average net assets | 1.24 <br><sup>(b),(c)</sup><br>| 1.27 <br><sup>(b),(c)</sup><br>| 1.36 <br><sup>(b),(c)</sup><br>| 1.43 | 1.39 |
| Ratio of net investment income to average net assets | .86 <br><sup>(b),(c)</sup><br>| .83 <br><sup>(b),(c)</sup><br>| .61 <br><sup>(b),(c)</sup><br>| 4.00 | 1.78 |
| Portfolio Turnover Rate | 56.48 | 30.57 | 121.64 | 60.15 | 63.29 |
| **Net Assets, end of period ($ x 1,000)** | 152715 | 197865 | 299278 | 522075 | 1063203 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**71**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Emerging Markets Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 10.73 | 9.88 | 11.05 | 14.52 | 11.64 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .07 | .06 | .04 | .48 | .21 |
| Net realized and unrealized gain (loss) on investments | 1.12 | .93 | .04 | (3.71)<br>| 2.80 |
| Total from Investment Operations | 1.19 | .99 | .08 | (3.23)<br>| 3.01 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.04)<br>| (.14)<br>| (1.25)<br>| (.24)<br>| (.13)<br>|
| Net asset value, end of period | 11.88 | 10.73 | 9.88 | 11.05 | 14.52 |
| **Total Return (%)** | 11.00 | 10.08 | .87 | (22.52)<br>| 25.97 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | 1.74 | 1.77 | 1.77 | 1.68 | 1.64 |
| Ratio of net expenses to average net assets | 1.49 <br><sup>(b),(c)</sup><br>| 1.52 <br><sup>(b),(c)</sup><br>| 1.61 <br><sup>(b),(c)</sup><br>| 1.68 | 1.64 |
| Ratio of net investment income to average net assets | .61 <br><sup>(b),(c)</sup><br>| .58 <br><sup>(b),(c)</sup><br>| .36 <br><sup>(b),(c)</sup><br>| 3.75 | 1.53 |
| Portfolio Turnover Rate | 56.48 | 30.57 | 121.64 | 60.15 | 63.29 |
| **Net Assets, end of period ($ x 1,000)** | 16859 | 18259 | 20047 | 28873 | 33827 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**72**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Asset Allocation Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 13.84 | 12.07 | 12.56 | 15.34 | 12.88 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .24 | .23 | .26 | .21 | .16 |
| Net realized and unrealized gain (loss) on investments | 1.28 | 1.81 | .57 | (2.01)<br>| 2.81 |
| Total from Investment Operations | 1.52 | 2.04 | .83 | (1.80)<br>| 2.97 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.34)<br>| (.22)<br>| (.26)<br>| (.35)<br>| (.21)<br>|
| Dividends from net realized gain on investments | (.34)<br>| (.05)<br>| (1.06)<br>| (.63)<br>| (.30)<br>|
| Total Distributions | (.68)<br>| (.27)<br>| (1.32)<br>| (.98)<br>| (.51)<br>|
| Net asset value, end of period | 14.68 | 13.84 | 12.07 | 12.56 | 15.34 |
| **Total Return (%)** | 11.40 | 17.15 | 7.53 | (12.62)<br>| 23.59 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets<sup>(b)</sup> <br>| .53 | .49 | .46 | .42 | .40 |
| Ratio of net expenses to average net assets<sup>(b),(c)</sup> <br>| .50 <br><sup>(d)</sup><br>| .45 <br><sup>(d)</sup><br>| .44 <br><sup>(d)</sup><br>| .41 | .32 |
| Ratio of net investment income to average net assets<sup>(b),(c)</sup> <br>| 1.69 <br><sup>(d)</sup><br>| 1.82 <br><sup>(d)</sup><br>| 2.20 <br><sup>(d)</sup><br>| 1.50 | 1.14 |
| Portfolio Turnover Rate | 27.04 | 30.53 | 32.54 | 29.76 | 17.71 |
| **Net Assets, end of period ($ x 1,000)** | 440765 | 438614 | 420930 | 432481 | 537189 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount does not include the expenses of the underlying funds.

<sup>(c)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(d)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**73**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Asset Allocation Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 14.02 | 12.22 | 12.69 | 15.48 | 13.00 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .20 | .20 | .24 | .17 | .12 |
| Net realized and unrealized gain (loss) on investments | 1.30 | 1.83 | .57 | (2.02)<br>| 2.83 |
| Total from Investment Operations | 1.50 | 2.03 | .81 | (1.85)<br>| 2.95 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.30)<br>| (.18)<br>| (.22)<br>| (.31)<br>| (.17)<br>|
| Dividends from net realized gain on investments | (.34)<br>| (.05)<br>| (1.06)<br>| (.63)<br>| (.30)<br>|
| Total Distributions | (.64)<br>| (.23)<br>| (1.28)<br>| (.94)<br>| (.47)<br>|
| Net asset value, end of period | 14.88 | 14.02 | 12.22 | 12.69 | 15.48 |
| **Total Return (%)** | 11.12 | 16.86 | 7.29 | (12.85)<br>| 23.29 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets<sup>(b)</sup> <br>| .78 | .74 | .71 | .67 | .65 |
| Ratio of net expenses to average net assets<sup>(b),(c)</sup> <br>| .75 <br><sup>(d)</sup><br>| .70 <br><sup>(d)</sup><br>| .69 <br><sup>(d)</sup><br>| .66 | .57 |
| Ratio of net investment income to average net assets<sup>(b),(c)</sup> <br>| 1.44 <br><sup>(d)</sup><br>| 1.57 <br><sup>(d)</sup><br>| 1.97 <br><sup>(d)</sup><br>| 1.25 | .86 |
| Portfolio Turnover Rate | 27.04 | 30.53 | 32.54 | 29.76 | 17.71 |
| **Net Assets, end of period ($ x 1,000)** | 11031 | 10776 | 7890 | 8800 | 7815 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount does not include the expenses of the underlying funds.

<sup>(c)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(d)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**74**

------

NOTES TO FINANCIAL STATEMENTS

**NOTE 1—**

**Significant Accounting Policies:**

BNY Mellon Funds Trust (the "Trust"), a Massachusetts business trust that is registered under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company, operates as a series company currently consisting of thirteen series, including the following diversified funds: BNY Mellon Income Stock Fund, BNY Mellon Mid Cap Multi-Strategy Fund, BNY Mellon Small Cap Multi-Strategy Fund, BNY Mellon International Fund, BNY Mellon Emerging Markets Fund and BNY Mellon Asset Allocation Fund (each, a "fund" and collectively, the "funds"). The objectives of the funds are as follows: BNY Mellon Mid Cap Multi-Strategy Fund and BNY Mellon Small Cap Multi-Strategy Fund seek capital appreciation and BNY Mellon Income Stock Fund seeks total return (consisting of capital appreciation and income). BNY Mellon International Fund and BNY Mellon Emerging Markets Fund seek long-term capital growth. BNY Mellon Asset Allocation Fund seeks long-term growth of principal in conjunction with current income.

BNY Mellon Investment Adviser, Inc. (the "Adviser"), a wholly-owned subsidiary of The Bank of New York Mellon Corporation ("BNY"), serves as each fund's investment adviser. The Bank of New York Mellon serves as administrator for the funds pursuant to an Administration Agreement with the Trust (the "Administration Agreement"). The Bank of New York Mellon has entered into a Sub-Administration Agreement with the Adviser pursuant to which BNY pays the Adviser for performing certain administrative services.

Boston Partners Global Investors, Inc. ("Boston Partners"), and Geneva Capital Management LLC ("Geneva"), serve as BNY Mellon Mid Cap Multi-Strategy Fund's sub-adviser with respect to the Boston Partners Mid Cap Value Strategy and the Geneva Mid Cap Growth Strategy, respectively. Newton Investment Management North America, LLC ("NIMNA"), also an indirect wholly-owned subsidiary of BNY and an affiliate of the Adviser serves as a sub-adviser of (i) BNY Mellon Income Stock Fund; (ii) BNY Mellon Mid Cap Multi-Strategy Fund responsible for the portions of the fund's assets allocated to the Opportunistic Mid Cap Value Strategy and the Mid Cap Growth Strategy; (iii) BNY Mellon Small Cap Multi-Strategy Fund responsible for the portions of the fund's assets allocated to the Small Cap Value Strategy and the Small Cap Growth Strategy; and (iv) BNY Mellon International Fund. Prior to June 16, 2025, the BNY Mellon Small Cap Multi-Strategy Fund also included portions of the fund's assets allocated to the Opportunistic Small Cap Strategy. NIMNA, subject to the Adviser's supervision and approval, provides investment advisory assistance and research and the day-to-day management of the respective fund's assets or the portion of the respective fund's assets allocated to the strategies described above. NIMNA's principal office is located at BNY Mellon Center, 201 Washington Street, Boston, Massachusetts 02108. NIMNA has entered into a sub-sub-investment advisory agreement with its affiliate, Newton Investment Management Limited ("NIM"), which enables NIM to provide certain advisory services to NIMNA for the benefit of the funds, including, but not limited to, portfolio management services. NIM is subject to the supervision of NIMNA and the Adviser. NIM, also an indirect wholly-owned subsidiary of BNY and an affiliate of the Adviser, serves as the sub-adviser for BNY Mellon Emerging Markets Fund. NIM, located at 160 Queen Victoria Street, London, EC4V, 4LA, England, was formed in 1978. NIM has entered into a sub-sub-investment advisory agreement with its affiliate, NIMNA, which enables NIMNA to provide certain advisory services to NIM for the benefit of the funds, including, but not limited to, portfolio management services. NIMNA is subject to the supervision of the NIM and the Adviser.

BNY Mellon Securities Corporation (the "Distributor"), a wholly-owned subsidiary of the Adviser, is the distributor of each fund's shares. Each fund is authorized to issue an unlimited number of $.001 par value shares of Beneficial Interest in each of the following classes of shares: Class M and Investor and for BNY Mellon Income Stock Fund only Class A, Class C, Class I and Class Y. Class A and Class C shares are sold primarily to retail investors through financial intermediaries and bear Distribution and/or Shareholder Services Plan fees. Class A shares generally are subject to a sales charge imposed at the time of purchase. Class A shares bought without an initial sales charge as part of an investment of $1 million or more may be charged a contingent deferred sales charge ("CDSC") of 1.00% if redeemed within one year. Class C shares are subject to a CDSC imposed on Class C shares redeemed within one year of purchase. Class C shares automatically convert to Class A shares eight years after the date of purchase, without the imposition of a sales charge. 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 Distribution or Shareholder Services Plan fees. Class Y shares are sold at net asset value per share generally to institutional investors, and bear no Distribution or Shareholder Services Plan fees. Class I and Class Y shares are offered without a front-end sales charge or CDSC. Other differences between the classes include the services offered to and the expenses borne by each class, the allocation of certain transfer agency costs 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 Trust 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 are allocated among them on a pro rata basis.

**75**

------

NOTES TO FINANCIAL STATEMENTS (continued)

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. Each fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. Each 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 Trust enters into contracts that contain a variety of indemnifications. The funds' maximum exposure under these arrangements is unknown. The funds do 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 each 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 funds' 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 each fund's investments are as follows:

The Trust's Board of Trustees (the "Board") has designated the Adviser as the funds' valuation designee to make all fair value determinations with respect to the funds' portfolio investments, subject to the Board's oversight and pursuant to Rule 2a-5 under the Act.

**BNY Mellon Asset Allocation Fund:** Investments in debt securities, excluding short-term investments (other than U.S. Treasury Bills) are valued each business day by one or more independent pricing services (each, a "Service"). Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of a Service are valued at the mean between the quoted bid prices (as obtained by a Service from dealers in such securities) and asked prices (as calculated by a Service based upon its evaluation of the market for such securities). Securities are valued as determined by the Adviser based on values supplied by a Service, based on methods which include consideration of the following: yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. The Services are engaged under the general supervision of the Adviser. These securities are generally categorized within Level 2 of the fair value hierarchy.

Investments in equity securities and exchange-traded funds are valued at the last sales price on the securities exchange or national securities market on which such securities are primarily traded. Securities listed on the National Market System for which market quotations are available are valued at the official closing price or, if there is no official closing price that day, at the last sales price. For open short positions, asked prices are used for valuation purposes. Bid price is used when no asked price is available. Registered investment companies that are not traded on an exchange are valued at their net asset value. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.

Securities not listed on an exchange or the national securities market, or securities for which there were no transactions, are valued at the average of the most recent bid and asked prices. These securities are generally categorized within Level 2 of the fair value hierarchy.

Fair valuing of securities may be determined with the assistance of a Service using calculations based on indices of domestic securities and other appropriate indicators, such as prices of relevant ADRs and futures. Utilizing these techniques may result in transfers between Level 1 and Level 2 of the fair value hierarchy.

**76**

------

NOTES TO FINANCIAL STATEMENTS (continued)

When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded (for example, a foreign exchange or market), but before the funds calculate their net asset value, the funds may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

For securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.

Investments denominated in foreign currencies are translated to U.S. dollars at the prevailing rates of exchange.

The following is a summary of the inputs used as of August 31, 2025 in valuing each fund's investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 -** <br>**Unadjusted** <br>**Quoted Prices**<br>| **Level 2- Other** <br>**Significant** <br>**Observable Inputs**<br>| **Level 3-** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **BNY Mellon Income Stock Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Equity Securities - Common Stocks | &nbsp;&nbsp; 165099107 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **165099107** |
| Investment Companies | &nbsp;&nbsp; 5565886 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **5565886** |
|  | &nbsp;&nbsp; **170664993** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **170664993** |
| **BNY Mellon Mid Cap Multi-Strategy Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Equity Securities - Common Stocks | &nbsp;&nbsp; 649069616 | &nbsp;&nbsp; 8847<br> <sup>††</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; **649078463** |
| Exchange-Traded Funds | &nbsp;&nbsp; 4525519 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **4525519** |
| Rights | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 49108 | &nbsp;&nbsp; **49108** |
| Investment Companies | &nbsp;&nbsp; 24433584 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **24433584** |
|  | &nbsp;&nbsp; **678028719** | &nbsp;&nbsp; **8847** | &nbsp;&nbsp; **49108** | &nbsp;&nbsp; **678086674** |
| **BNY Mellon Small Cap Multi-Strategy Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Equity Securities - Common Stocks | &nbsp;&nbsp; 193778221 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **193778221** |
| Investment Companies | &nbsp;&nbsp; 5954313 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **5954313** |
|  | &nbsp;&nbsp; **199732534** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **199732534** |
| **BNY Mellon International Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Equity Securities - Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 218379062<br> <sup>††</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; **218379062** |
| Equity Securities - Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 4085810<br> <sup>††</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; **4085810** |
| Exchange-Traded Funds | &nbsp;&nbsp; 1746445 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **1746445** |
| Investment Companies | &nbsp;&nbsp; 2129585 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **2129585** |
|  | &nbsp;&nbsp; **3876030** | &nbsp;&nbsp; **222464872** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **226340902** |

---

**77**

------

NOTES TO FINANCIAL STATEMENTS (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 -**<br> **Unadjusted**<br> **Quoted Prices**<br>| **Level 2- Other**<br> **Significant** <br> **Observable Inputs**<br>| **Level 3-**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>| **Total** |
| **BNY Mellon Emerging Markets Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Equity Securities - Common Stocks | &nbsp;&nbsp; 28928663 | &nbsp;&nbsp; 137067691<br> <sup>††</sup><br>| &nbsp;&nbsp; 0 | &nbsp;&nbsp; **165996354** |
| Investment Companies | &nbsp;&nbsp; 3435444 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **3435444** |
|  | &nbsp;&nbsp; **32364107** | &nbsp;&nbsp; **137067691** | &nbsp;&nbsp; **0** | &nbsp;&nbsp; **169431798** |
| **BNY Mellon Asset Allocation Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Corporate Bonds and Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 14223188 | &nbsp;&nbsp; — | &nbsp;&nbsp; **14223188** |
| Equity Securities - Common Stocks | &nbsp;&nbsp; 200463145 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **200463145** |
| Foreign Governmental | &nbsp;&nbsp; — | &nbsp;&nbsp; 432417 | &nbsp;&nbsp; — | &nbsp;&nbsp; **432417** |
| Rights | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 472 | &nbsp;&nbsp; **472** |
| U.S. Government Agencies Collateralized Municipal-Backed <br> Securities<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 174294 | &nbsp;&nbsp; — | &nbsp;&nbsp; **174294** |
| U.S. Government Agencies Mortgage-Backed | &nbsp;&nbsp; — | &nbsp;&nbsp; 12499004 | &nbsp;&nbsp; — | &nbsp;&nbsp; **12499004** |
| U.S. Treasury Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 20645149 | &nbsp;&nbsp; — | &nbsp;&nbsp; **20645149** |
| Investment Companies | &nbsp;&nbsp; 203965294 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **203965294** |
|  | &nbsp;&nbsp; **404428439** | &nbsp;&nbsp; **47974052** | &nbsp;&nbsp; **472** | &nbsp;&nbsp; **452402963** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>†</sup> See Schedules of Investments for additional detailed categorizations, if any. <br> <sup>††</sup> Securities classified within Level 2 at period end as the values were determined pursuant to the fund's fair valuation procedures.

**(b) Foreign currency transactions:** Each relevant fund does not isolate that portion of the results of operations resulting from changes in foreign 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 funds' 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:** Each relevant 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 funds invest. These foreign taxes, if any, are paid by the funds and are reflected in the Statements of Operations, if applicable. Foreign taxes payable or deferred or those subject to reclaims as of August 31, 2025, if any, are disclosed in the funds' Statements 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 funds may lend securities to qualified institutions. It is the funds' 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

**78**

------

NOTES TO FINANCIAL STATEMENTS (continued)

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 funds, except in the event of borrower default, and is not reflected in the Statements of Assets and Liabilities. The securities on loan, if any, are also disclosed in each fund's Schedules of Investments. The funds are 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 funds or credit the funds with the market value of the unreturned securities and is subrogated to the funds' rights against the borrower and the collateral. Additionally, the contractual maturity of security lending transactions are on an overnight and continuous basis. The table below summarizes the amount BNY earned from each relevant fund from lending portfolio securities, pursuant to the securities lending agreement during the period ended August 31, 2025.

---

| | |
|:---|:---|
| **Securities Lending Agreement ($)** |  |
| BNY Mellon Mid Cap Multi-Strategy Fund | 8265 |
| BNY Mellon Small Cap Multi-Strategy Fund | 8245 |
| BNY Mellon International Fund | 717 |
| BNY Mellon Emerging Markets Fund | 530 |
| BNY Mellon Asset Allocation Fund | 1042 |

---

For financial reporting purposes, each relevant fund elects not to offset assets and liabilities subject to a securities lending agreement, if any, in the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statements of Assets and Liabilities. As of August 31, 2025, each relevant 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 tables:

---

| | |
|:---|:---|
| **Assets ($)** |  |
| **BNY Mellon Mid Cap Multi-Strategy Fund** | **BNY Mellon Mid Cap Multi-Strategy Fund** |
| Gross amount of securities loaned, at <br> value, as disclosed in the Statement <br>of Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7477669 |
| Collateral (received)/posted not offset <br>in the Statement of <br>Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7477669) <br><sup>†</sup><br>|
| Net amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| 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, <br> the value of collateral may include pending sales that are also on loan. See Schedules of Investments for detailed information regarding collateral received for open <br> securities lending.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets ($)** |  |
| **BNY Mellon Small Cap Multi-Strategy Fund** | **BNY Mellon Small Cap Multi-Strategy Fund** |
| Gross amount of securities loaned, at <br> value, as disclosed in the Statement <br>of Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9450246 |
| Collateral (received)/posted not offset <br>in the Statement of <br>Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9450246) <br><sup>†</sup><br>|
| Net amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| 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, <br> the value of collateral may include pending sales that are also on loan. See Schedules of Investments for detailed information regarding collateral received for open <br> securities lending.<br>|

---

**79**

------

NOTES TO FINANCIAL STATEMENTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets ($)** |  |
| **BNY Mellon International Fund** | **BNY Mellon International Fund** |
| Gross amount of securities loaned, at <br> value, as disclosed in the Statement <br>of Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1652329 |
| Collateral (received)/posted not offset <br>in the Statement of <br>Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1652329) <br><sup>†</sup><br>|
| Net amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| 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, <br> the value of collateral may include pending sales that are also on loan. See Schedules of Investments for detailed information regarding collateral received for open <br> securities lending.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets ($)** |  |
| **BNY Mellon Emerging Markets Fund** | **BNY Mellon Emerging Markets Fund** |
| Gross amount of securities loaned, at <br> value, as disclosed in the Statement <br>of Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Collateral (received)/posted not offset <br>in the Statement of <br>Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 <br><sup>†</sup><br>|
| Net amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| 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, <br> the value of collateral may include pending sales that are also on loan. See Schedules of Investments for detailed information regarding collateral received for open <br> securities lending.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets ($)** |  |
| **BNY Mellon Asset Allocation Fund** | **BNY Mellon Asset Allocation Fund** |
| Gross amount of securities loaned, at <br> value, as disclosed in the Statement <br>of Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3197901 |
| Collateral (received)/posted not offset <br>in the Statement of <br>Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3197901) <br><sup>†</sup><br>|
| Net amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| 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, <br> the value of collateral may include pending sales that are also on loan. See Schedules of Investments for detailed information regarding collateral received for open <br> securities lending.<br>|

---

**(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 each 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 each 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.

**Foreign Investment Risk**: To the extent each fund invests in foreign securities, each 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.

**80**

------

NOTES TO FINANCIAL STATEMENTS (continued)

**Emerging Market Risk:** The securities of issuers located or doing substantial business in emerging market countries tend to be more volatile and less liquid than the securities of issuers located in countries with more mature economies. Emerging markets generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Investments in these countries may be subject to political, economic, legal, market and currency risks. Special risks associated with investments in emerging market issuers may include a lack of publicly available information, a lack of uniform disclosure, accounting and financial reporting and recordkeeping standards and limited investor protections applicable in developed economies. The risks also may include unpredictable political and economic policies, the imposition of capital controls and/or foreign investment limitations by a country, nationalization of businesses and the imposition of sanctions or restrictions on certain investments by other countries, such as the United States.

**Exchange Traded Funds ("ETF") And Other Investment Company Risk:** To the extent each relevant fund invests in pooled investment vehicles, such as ETFs and other investment companies, each relevant fund will be affected by the investment policies, practices and performance of such entities proportion to the amount of assets each relevant fund has invested therein. The risks of investing in other investment companies, including ETFs, typically reflect the risks associated with the types of instruments in which the investment companies invest. When each relevant fund invests in an ETF or other investment company, shareholders of the fund will bear indirectly their proportionate share of the expenses of the ETF or other investment company (including management fees) in addition to the expenses of each relevant fund. ETFs are exchange-traded investment companies that are, in many cases, designed to provide investment results corresponding to an index. The value of the underlying securities can fluctuate in response to activities of individual companies or in response to general market and/or economic conditions. Additional risks of investments in ETFs include: (i) the market price of an ETF's shares may trade at a discount to its net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading may be halted if the listing exchanges' officials deem such action appropriate, the shares are delisted from the exchange, or the activation of market-wide "circuit breakers" (which are tied to large decreases in stock prices) halts trading generally. The fund will incur brokerage costs when purchasing and selling shares of ETFs.

**Interest Rate Risk:** Prices of bonds and other fixed rate fixed-income securities tend to move inversely with changes in interest rates. Typically, a rise in rates will adversely affect fixed-income securities and, accordingly, will cause the value of each fund's investments in these securities to decline. A wide variety of market factors can cause interest rates to rise, including central bank monetary policy, rising inflation and changes in general economic conditions. It is difficult to predict the pace at which central banks or monetary authorities may increase (or decrease) interest rates or the timing, frequency, or magnitude of such changes. During periods of very low interest rates, which occur from time to time due to market forces or actions of governments and/or their central banks, including the Board of Governors of the Federal Reserve System in the U.S., each fund may be subject to a greater risk of principal decline from rising interest rates. When interest rates fall, each fund's investments in new securities may be at lower yields and may reduce each fund's income. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility and may detract from fund performance. The magnitude of these fluctuations in the market price of fixed-income securities is generally greater for securities with longer effective maturities and durations because such instruments do not mature, reset interest rates or become callable for longer periods of time. Unlike investment grade bonds, however, the prices of high yield ("junk") bonds may fluctuate unpredictably and not necessarily inversely with changes in interest rates.

**Fixed-Income Market Risk**: The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company, such as real or perceived adverse economic conditions, changes in the outlook for corporate earnings, changes in interest or currency rates or adverse investor sentiment generally. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Liquidity can decline unpredictably in response to overall economic conditions or credit tightening. Increases in volatility and decreases in liquidity may be caused by a rise in interest rates (or the expectation of a rise in interest rates). An unexpected increase in each of the relevant fund redemption requests, including requests from shareholders who may own a significant percentage of each of the relevant fund's shares, which may be triggered by market turmoil or an increase in interest rates, could cause each of the relevant fund to sell its holdings at a loss or at undesirable prices and adversely affect each of the relevant fund's share price and increase each of the relevant fund's liquidity risk, fund expenses and/or taxable distributions. Federal Reserve policy in response to market conditions, including with respect to interest rates, may adversely affect the value, volatility and liquidity of dividend and interest paying securities. Policy and legislative changes worldwide are affecting many aspects of financial regulation. The impact of these changes on the markets and the practical implications for market participants may not be fully known for some time.

**(f) Dividends and distributions to shareholders:** Dividends and distributions payable to shareholders are recorded by each fund on the ex-dividend date. BNY Mellon Income Stock Fund and BNY Mellon Asset Allocation Fund normally declare and pay dividends from net investment income monthly. BNY Mellon Mid Cap Multi-Strategy Fund, BNY Mellon Small Cap Multi-Strategy Fund, BNY

**81**

------

NOTES TO FINANCIAL STATEMENTS (continued)

Mellon International Fund and BNY Mellon Emerging Markets Fund normally declare and pay dividends from net investment income annually. Dividends from net realized capital gains, if any, are normally declared and paid annually, but each 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 of a fund, it is the policy of each fund not to distribute such gains. Income and capital gains distributions are determined in accordance with income tax regulations, which may differ from GAAP.

**(g) Federal income taxes:** It is the policy of each 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 sufficient to relieve it from substantially all federal income and excise taxes. For federal income tax purposes, each fund is treated as a separate entity for the purpose of determining such qualification.

As of and during the period ended August 31, 2025, the funds did not have any liabilities for any uncertain tax positions. Each fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statements of Operations. During the period ended August 31, 2025, the funds did not incur any interest or penalties.

Each tax year in the four-year period ended August 31, 2025 remains subject to examination by the Internal Revenue Service and state taxing authorities.

The table below summarizes each fund's components of accumulated earnings on a tax basis at August 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Components of Accumulated Earnings** | **Components of Accumulated Earnings** | **Components of Accumulated Earnings** | **Components of Accumulated Earnings** | **Components of Accumulated Earnings** |
|  | Undistributed <br>Ordinary <br>Income ($)<br>| Undistributed <br>Capital Gains ($)<br>| Accumulated <br>Capital <br>(Losses) ($)<br>| Unrealized <br> Appreciation <br> (Depreciation) ($)<br>|
| BNY Mellon Income Stock Fund | &nbsp;&nbsp; 1229174 | &nbsp;&nbsp; 18287008 | &nbsp;&nbsp; - | &nbsp;&nbsp; 28525630 |
| BNY Mellon Mid Cap Multi-Strategy Fund | &nbsp;&nbsp; 10723558 | &nbsp;&nbsp; 269173158 | &nbsp;&nbsp; - | &nbsp;&nbsp; 344198965 |
| BNY Mellon Small Cap Multi-Strategy Fund | &nbsp;&nbsp; 519227 | &nbsp;&nbsp; 37364310 | &nbsp;&nbsp; - | &nbsp;&nbsp; 41511975 |
| BNY Mellon International Fund | &nbsp;&nbsp; 5396563 | &nbsp;&nbsp; - | &nbsp;&nbsp; (48497956)<br>| &nbsp;&nbsp; 29211065 |
| BNY Mellon Emerging Markets Fund | &nbsp;&nbsp; 69814 | &nbsp;&nbsp; - | &nbsp;&nbsp; (306139876)<br>| &nbsp;&nbsp; 24200975 |
| BNY Mellon Asset Allocation Fund | &nbsp;&nbsp; 783919 | &nbsp;&nbsp; 13102277 | &nbsp;&nbsp; - | &nbsp;&nbsp; 149889614 |

---

Each fund is permitted to carry forward capital losses for an unlimited period. Furthermore, capital loss carryovers retain their character as either short-term or long-term capital losses.

The below table summarizes each relevant fund's accumulated capital loss carryover available for federal income tax purposes to be applied against future net realized capital gains, if any, realized subsequent to August 31, 2025.

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryover** | Short-Term <br>Losses ($)<sup>†</sup> <br>| Long-Term <br>Losses ($)<sup>†</sup> <br>| Total ($) |
| BNY Mellon International Fund | &nbsp;&nbsp; 48497956 | &nbsp;&nbsp; - | &nbsp;&nbsp; 48497956 |
| BNY Mellon Emerging Markets Fund | &nbsp;&nbsp; 306139876 | &nbsp;&nbsp; - | &nbsp;&nbsp; 306139876 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>†</sup> These capital losses can be carried forward for an unlimited period.

**82**

------

NOTES TO FINANCIAL STATEMENTS (continued)

The below table summarizes each fund's tax character of distributions paid to shareholders during the fiscal periods ended August 31, 2025 and August 31, 2024.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 2025 | 2025 | 2024 | 2024 |
| **Tax Character of Distributions Paid** | Ordinary <br>Income ($)<br>| Long-Term <br>Capital Gains ($)<br>| Ordinary <br>Income ($)<br>| Long-Term <br>Capital Gains ($)<br>|
| BNY Mellon Income Stock Fund | &nbsp;&nbsp; 12488978 | &nbsp;&nbsp; 26161628 | &nbsp;&nbsp; 5462624 | &nbsp;&nbsp; 30521957 |
| BNY Mellon Mid Cap Multi-Strategy Fund | &nbsp;&nbsp; 11616474 | &nbsp;&nbsp; 239532155 | &nbsp;&nbsp; 6900429 | &nbsp;&nbsp; 204040698 |
| BNY Mellon Small Cap Multi-Strategy Fund | &nbsp;&nbsp; 4257410 | &nbsp;&nbsp; 24755202 | &nbsp;&nbsp; 897073 | &nbsp;&nbsp; 2132656 |
| BNY Mellon International Fund | &nbsp;&nbsp; 7171035 | &nbsp;&nbsp; - | &nbsp;&nbsp; 10216734 | &nbsp;&nbsp; - |
| BNY Mellon Emerging Markets Fund | &nbsp;&nbsp; 1205118 | &nbsp;&nbsp; - | &nbsp;&nbsp; 4458273 | &nbsp;&nbsp; - |
| BNY Mellon Asset Allocation Fund | &nbsp;&nbsp; 11038067 | &nbsp;&nbsp; 10292674 | &nbsp;&nbsp; 7456344 | &nbsp;&nbsp; 1780069 |

---

During the period ended August 31, 2025, as a result of permanent book to tax differences, primarily due to the tax treatment for treating a potion of the proceeds from redemptions as a distribution for tax purposes, each identified fund (decreased) total distributable earnings (loss) and increased paid-in capital as summarized in the table below. Net assets and net asset value per share were not affected by this reclassification.

---

| | | |
|:---|:---|:---|
| **Return of Capital Statement of Position** | Total <br> Distributable <br>Earnings (Loss) ($)<br>| Paid-in <br>Capital ($)<br>|
| BNY Mellon Income Stock Fund | &nbsp;&nbsp; (4401009)<br>| &nbsp;&nbsp; 4401009 |
| BNY Mellon Mid Cap Multi-Strategy Fund | &nbsp;&nbsp; (91193959)<br>| &nbsp;&nbsp; 91193959 |
| BNY Mellon Small Cap Multi-Strategy Fund | &nbsp;&nbsp; (7637638)<br>| &nbsp;&nbsp; 7637638 |

---

**(h) Operating segment reporting:** In this reporting period, each fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the funds' financial position or the results of its operations. The ASU 2023-07 is effective for public entities for fiscal years beginning after December 15, 2023, and requires retrospective application for all prior periods presented within the financial statements.

Since its commencement, each fund operates and is managed as a single reportable segment deriving returns in the form of dividends, interest and/or gains from the investments made in pursuit of its single stated investment objective as outlined in the funds' prospectus. The accounting policies of the funds are consistent with those described in these Notes to Financial Statements. The chief operating decision maker ("CODM") is represented by BNY Investments, the management of the Adviser, comprising Senior Management and Directors. The CODM considers net increase in net assets resulting from operations in deciding whether to purchase additional investments or to make distributions to fund shareholders. Detailed financial information for the funds is disclosed within these financial statements with total assets and liabilities disclosed on the Statements of Assets and Liabilities, investments held on the Schedules of Investments, results of operations and significant segment expenses on the Statements of Operations and other information about the funds' performance, including total return, portfolio turnover and ratios within the Financial Highlights.

**NOTE 2—**

**Bank Lines of Credit:**

The funds participate 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 funds, 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, each 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 funds based on rates determined pursuant to the terms of the respective Facility at the time of borrowing. During the period ended August 31, 2025, BNY Mellon Income Stock Fund and BNY Mellon Asset Allocation Fund did not borrow under either Facility.

**83**

------

NOTES TO FINANCIAL STATEMENTS (continued)

During the period ended August 31, 2025, BNY Mellon Mid Cap Multi-Strategy Fund was charged $1,824 for interest expense. These fees are included in Interest expense in the Statements of Operations. The average amount of borrowings outstanding under the Citibank Credit Facility during the period ended August 31, 2025 was approximately $34,521 with a related weighted average annualized interest rate of 5.28%. As of August 31, 2025, the fund has no outstanding loan balance from either Facility.

During the period ended August 31, 2025, BNY Mellon Small Cap Multi-Strategy Fund was charged $1,429 for interest expense. These fees are included in Interest expense in the Statements of Operations. The average amount of borrowings outstanding under the Citibank Credit Facility during the period ended August 31, 2025 was approximately $27,123 with a related weighted average annualized interest rate of 5.27%. As of August 31, 2025, the fund has no outstanding loan balance from either Facility.

During the period ended August 31, 2025, BNY Mellon International Fund was charged $189 for interest expense. These fees are included in Interest expense in the Statements of Operations. The average amount of borrowings outstanding under the Citibank Credit Facility during the period ended August 31, 2025 was approximately $3,562 with a related weighted average annualized interest rate of 5.31%. As of August 31, 2025, the fund has no outstanding loan balance from either Facility.

During the period ended August 31, 2025, BNY Mellon Emerging Markets Fund was charged $9,453 for interest expense. These fees are included in Interest expense in the Statements of Operations. The average amount of borrowings outstanding under the Citibank Credit Facility during the period ended August 31, 2025 was approximately $179,178 with a related weighted average annualized interest rate of 5.28%. As of August 31, 2025, the fund has no outstanding loan balance from either Facility.

**NOTE 3—**

**Management Fee, Administration Fee, Sub-Advisory Fee and Other Transactions with Affiliates:**

**(a)** Pursuant to an investment advisory agreement with the Adviser, the management fee is payable monthly and computed on the average daily value of each fund's net assets at the following annual rate: .65% of BNY Mellon Income Stock Fund, .75% of BNY Mellon Mid Cap Multi-Strategy Fund, .85% of BNY Mellon Small Cap Multi-Strategy Fund, .85% of BNY Mellon International Fund, 1.15% of BNY Mellon Emerging Markets Fund and .65% (equity securities), .40% (debt securities) and .15% (money market instruments and other underlying funds, which may consist of affiliated funds and unaffiliated open-end funds, closed-end funds and exchange traded funds) of BNY Mellon Asset Allocation Fund.

For BNY Mellon Income Stock Fund, the Adviser has contractually agreed, from September 1, 2024 through December 31, 2025, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of Class A, C, I or Y share classes (excluding Rule 12b-1 Distribution Plan fees, Shareholder Services Plan fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .90% of the value of the fund's average daily net assets. To the extent that is it necessary for the Adviser to waive receipt of its management fee or reimburse the fund's common expenses, the amount of the waiver or reimbursement will be applied equally to each share class of the fund. On or after December 31, 2025, the Adviser may terminate this expense limitation agreement at any time. The reduction in expenses, pursuant to the undertaking, amounted to $73,403 during the period ended August 31, 2025.

For BNY Mellon International Fund, the Adviser has contractually agreed from September 1, 2024 through December 31, 2025 to waive receipt of a portion of its management fee in the amount of .20% of the value of the fund's average daily net assets. On or after December 31, 2025, the Adviser may terminate this waiver agreement at any time. The reduction in expenses, pursuant to the undertaking amounted to $455,472 during the period ended August 31, 2025.

For BNY Mellon Emerging Markets Fund, the Adviser has contractually agreed from September 1, 2024 through December 31, 2025 to waive receipt of a portion of its management fee in the amount of .25% of the value of the fund's average daily net assets. On or after December 31, 2025, the Adviser may terminate this waiver agreement at any time. The reduction in expenses, pursuant to the undertaking, amounted to $467,921 during the period ended August 31, 2025.

For BNY Mellon Asset Allocation Fund, the Adviser has contractually agreed, from September 1, 2024 through December 31, 2025, to waive receipt of its fees and/or assume the expenses of the fund so that the total annual fund operating expenses of neither class of fund shares (including indirect fees and expense of the underlying funds, but excluding Shareholder Services Plan fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .87% of the value of the fund's average daily net assets. On or after December 31, 2025, the Adviser may terminate this expense limitation agreement at any time. The reduction in expenses, pursuant to the undertaking, amounted to $135,118 during the period ended August 31, 2025.

**84**

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NOTES TO FINANCIAL STATEMENTS (continued)

Pursuant to the Administration Agreement, The Bank of New York Mellon provides or arranges for fund accounting, transfer agency and other fund administration services and receives a fee based on the total net assets of the Trust based on the following rates:

---

| | |
|:---|:---|
| 0 up to $6 billion | &nbsp;&nbsp;&nbsp;&nbsp; .15% |
| $6 billion up to $12 billion | &nbsp;&nbsp;&nbsp;&nbsp; .12% |
| In excess of $12 billion | &nbsp;&nbsp;&nbsp;&nbsp; .10% |

---

No administration fee is applied to assets held in BNY Mellon Asset Allocation Fund which are invested in cash or money market instruments or shares of other underlying funds.

Pursuant to a sub-investment advisory agreement between the Adviser and NIMNA and NIM for each relevant fund, the Adviser pays NIMNA and NIM for each relevant fund a monthly fee at an annual rate set forth in the table below of the respective fund's average daily net assets or the portion of the respective fund's average daily net assets allocated to the strategies sub-advised by NIMNA and NIM for each relevant fund.

---

| | |
|:---|:---|
| **Annual Fee (as a percentage of average daily net assets allocated to the strategies sub-advised by NIMNA and NIM for each relevant fund)** | **Annual Fee (as a percentage of average daily net assets allocated to the strategies sub-advised by NIMNA and NIM for each relevant fund)** |
| BNY Mellon Income Stock Fund | .195 |
| BNY Mellon Mid Cap Multi-Strategy Fund | .40 |
| BNY Mellon Small Cap Multi-Strategy Fund | .55 |
| BNY Mellon International Fund | .255 |
| BNY Mellon Emerging Markets Fund | .345 |

---

Pursuant to separate sub-investment advisory agreements, Geneva and Boston Partners serve as a sub-adviser responsible for the day-to-day management of their respective portion of BNY Mellon Mid Cap Multi-Strategy Fund's portfolio. The Adviser pays Boston Partners and Geneva separate monthly fees at an annual percentage of BNY Mellon Mid Cap Multi-Strategy Fund's average daily net assets allocated to the Boston Partners Mid Cap Value Strategy and the Geneva Mid Cap Growth Strategy, respectively. The Adviser has obtained an exemptive order from the SEC (the "Order"), upon which the funds may rely, to use a manager of managers approach that permits the Adviser, subject to certain conditions and approval by the Board, to enter into and materially amend sub-investment advisory agreements with one or more sub-advisers who are either unaffiliated with the Adviser or are wholly-owned subsidiaries (as defined under the Act) of the Adviser's ultimate parent company, BNY, without obtaining shareholder approval. The Order also allows the funds to disclose the sub-advisory fee paid by the Adviser to any unaffiliated sub-adviser in the aggregate with other unaffiliated sub-advisers in documents filed with the SEC and provided to shareholders. In addition, pursuant to the Order, it is not necessary to disclose the sub-advisory fee payable by the Adviser separately to a sub-adviser that is a wholly-owned subsidiary of BNY in documents filed with the SEC and provided to shareholders; such fees are to be aggregated with fees payable to the Adviser. The Adviser has ultimate responsibility (subject to oversight by the Board) to supervise any sub-adviser and recommend the hiring, termination, and replacement of any sub-adviser to the Board.

During the period ended August 31, 2025, the Distributor retained $1,189 from commissions earned on sales of BNY Mellon Income Stock Fund Class A shares and $150 from CDSC fees on redemptions of the fund's Class C shares.

**(b)** Under the Distribution Plan adopted pursuant to Rule12b-1 under the Act, Class C shares of BNY Mellon Income Stock Fund pay the Distributor for distributing its shares at an annual rate of .75% of the value of its average daily net assets. The Distributor may pay one or more Service Agents in respect of advertising, marketing and other distribution services, and determines the amounts, if any, to be paid to Service Agents and the basis on which such payments are made. During the period ended August 31, 2025, Class C shares were charged $8,443 pursuant to the Distribution Plan.

**(c)** Each fund has adopted a Shareholder Services Plan with respect to its Investor shares. BNY Mellon Income Stock Fund has also adopted a Shareholder Services Plan with respect to its Class A and Class C shares. Each fund pays the Distributor at an annual rate of .25% of the value of its Investor shares, and BNY Mellon Income Stock Fund pays the Distributor at an annual rate of .25% of the value of its Class A and Class C shares, based on the respective fund's 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 a fund, and services related to the maintenance of such shareholder accounts. The Shareholder Services Plan allows the Distributor to make payments from the shareholder services fees it collects from each fund to compensate service agents (certain banks, securities brokers or dealers and other financial institutions) with respect to these services. The table below summarizes the amounts Investor, Class A and

**85**

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NOTES TO FINANCIAL STATEMENTS (continued)

Class C shares were charged during the period ended August 31, 2025, pursuant to the Shareholder Services Plan, which is included in Shareholder servicing costs in the Statements of Operations.

---

| | |
|:---|:---|
| **Shareholder Services Plan Fees ($)** |  |
| BNY Mellon Income Stock Fund |  |
| Investor Shares | 30104 |
| Class A | 12582 |
| Class C | 2814 |
| BNY Mellon Mid Cap Multi-Strategy Fund | 257561 |
| BNY Mellon Small Cap Multi-Strategy Fund | 60796 |
| BNY Mellon International Fund | 40311 |
| BNY Mellon Emerging Markets Fund | 42358 |
| BNY Mellon Asset Allocation Fund | 25871 |

---

The funds have an arrangement with BNY Mellon Transfer, Inc., (the "Transfer Agent"), a subsidiary of BNY and an affiliate of the Adviser, whereby the funds may receive earnings credits when positive cash balances are maintained, which are used to offset Transfer Agent fees. For financial reporting purposes, the funds include net earnings credits, if any, as an expense offset in the Statements of Operations.

The funds have an arrangement with The Bank of New York Mellon (the "Custodian"), a subsidiary of BNY and an affiliate of the Adviser, whereby the funds will receive interest income or be charged overdraft fees when cash balances are maintained. For financial reporting purposes, the funds include this interest income and overdraft fees, if any, as interest income in the Statements of Operations.

Each fund compensates the Transfer Agent, under a transfer agency agreement, for providing transfer agency services for BNY Mellon Income Stock Fund Class A, Class C, Class I and Class Y shares and cash management services for the funds. The majority of Transfer Agent fees for BNY Mellon Income Stock Fund Class A, Class C, Class I and Class Y shares are comprised of amounts paid on a per account basis, while cash management fees are related to fund subscriptions and redemptions. BNY pays each fund's Transfer Agent fees comprised of amounts paid on a per account basis out of the administration fee it receives from the Trust, excluding BNY Mellon Income Stock Fund, Class A, Class C, Class I and Class Y shares. The below table summarizes the amount each fund was charged during the period ended August 31, 2025, which is included in Shareholder servicing costs in the Statements of Operations. These fees were partially offset by earnings credits for each relevant fund, also summarized in the table below.

---

| | | |
|:---|:---|:---|
|  | **Transfer** <br>**Agent Fees ($)**<br>| **Transfer Agent** <br>**Earnings Credits ($)**<br>|
| BNY Mellon Income Stock Fund | 3975 | (394) |
| BNY Mellon Mid Cap Multi-Strategy Fund | - | (906) |
| BNY Mellon Small Cap Multi-Strategy Fund | - | (621) |
| BNY Mellon International Fund | - | (162) |
| BNY Mellon Emerging Markets Fund | - | (194) |
| BNY Mellon Asset Allocation Fund | - | (72) |

---

**86**

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NOTES TO FINANCIAL STATEMENTS (continued)

Each fund compensates the Custodian, under a custody agreement, for providing custodial services for each fund. These fees are determined based on net assets, geographic region and transaction activity. The table below summarizes the amount each fund was charged during the period ended August 31, 2025 pursuant to the custody agreement.

---

| | |
|:---|:---|
| **Custodian Fees ($)** |  |
| BNY Mellon Income Stock Fund | 7320 |
| BNY Mellon Mid Cap Multi-Strategy Fund | 44860 |
| BNY Mellon Small Cap Multi-Strategy Fund | 43503 |
| BNY Mellon International Fund | 25100 |
| BNY Mellon Emerging Markets Fund | 115946 |
| BNY Mellon Asset Allocation Fund | 10279 |

---

The below table summarizes the amount each fund was charged for services performed by the Chief Compliance Officer and his staff, during the period ended August 31, 2025.

---

| | |
|:---|:---|
| **Chief Compliance Officer Fees ($)** |  |
| BNY Mellon Income Stock Fund | 25502 |
| BNY Mellon Mid Cap Multi-Strategy Fund | 49313 |
| BNY Mellon Small Cap Multi-Strategy Fund | 30333 |
| BNY Mellon International Fund | 24720 |
| BNY Mellon Emerging Markets Fund | 24872 |
| BNY Mellon Asset Allocation Fund | 29691 |

---

The funds compensate the Custodian for providing shareholder reporting and regulatory services for the funds. These fees are included in Shareholder and regulatory reports service fees in the Statements of Operations. The below table summarizes the amount each fund was charged for shareholder reporting and regulatory services, during the period ended August 31, 2025.

---

| | |
|:---|:---|
| **Shareholder and Regulatory Reports Service Fees ($)** |  |
| BNY Mellon Income Stock Fund | 8583 |
| BNY Mellon Mid Cap Multi-Strategy Fund | 7583 |
| BNY Mellon Small Cap Multi-Strategy Fund | 7583 |
| BNY Mellon International Fund | 7583 |
| BNY Mellon Emerging Markets Fund | 7583 |
| BNY Mellon Asset Allocation Fund | 7583 |

---

**87**

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NOTES TO FINANCIAL STATEMENTS (continued)

The table below summarizes the components of "Due to BNY Mellon Investment Adviser, Inc. and affiliates" in the Statements of Assets and Liabilities for each fund.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** |
|  | Management <br>Fee ($)<br>| Administration <br>Fee ($)<br>| Distribution <br>Plan <br>Fees ($)<br>| Shareholder <br>Services <br>Plan <br>Fees ($)<br>| Custodian <br>Fees ($)<br>| Chief <br>Compliance <br>Officer <br>Fees ($)<br>| Transfer <br>Agent <br>Fees ($)<br>| Shareholder <br>& Regulatory <br>Reports <br>Service <br>Fees ($)<br>| Less Expense <br>Reimbursement ($)<br>|
| BNY <br> Mellon <br> Income <br> Stock <br> Fund<br>| 93202 | 20374 | 748 | 3848 | 3000 | 3575 | 785 | 6667 | (6299) |
| BNY <br> Mellon <br> Mid Cap <br> Multi-<br> Strategy <br> Fund<br>| 430218 | 81515 | - | 19055 | 10000 | 9181 | - | 6000 | - |
| BNY <br> Mellon <br> Small <br> Cap <br> Multi-<br> Strategy <br> Fund<br>| 139617 | 23338 | - | 4821 | 10000 | 6149 | - | 6000 | - |
| BNY <br> Mellon <br> International <br> Fund<br>| 165898 | 27735 | - | 3864 | 6800 | 3338 | - | 6000 | (38941) |
| BNY <br> Mellon <br> Emerging <br> Markets <br> Fund<br>| 163856 | 20246 | - | 3529 | 41999 | 3338 | - | 6000 | (35865) |
| BNY <br> Mellon <br> Asset <br> Allocation <br> Fund<br>| 157092 | 29761 | - | 2323 | 2800 | 3981 | - | 6000 | - |

---

**(d)** Each board member also serves as a Board member of other funds within the Trust. Annual retainer fees and attendance fees are allocated to each fund based on net assets.

**88**

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NOTES TO FINANCIAL STATEMENTS (continued)

**NOTE 4—**

**Securities Transactions:**

The table below summarizes each fund's aggregate amount of purchases and sales (including paydowns) of investment securities, excluding short-term securities, during the period ended August 31, 2025.

---

| | | |
|:---|:---|:---|
| **Purchases and Sales** | Purchases ($) | Sales ($) |
| BNY Mellon Income Stock Fund | &nbsp;&nbsp; 143531478 | &nbsp;&nbsp; 213256099 |
| BNY Mellon Mid Cap Multi-Strategy Fund | &nbsp;&nbsp; 409831512 | &nbsp;&nbsp; 1050267155 |
| BNY Mellon Small Cap Multi-Strategy Fund | &nbsp;&nbsp; 182655298 | &nbsp;&nbsp; 322055769 |
| BNY Mellon International Fund | &nbsp;&nbsp; 179913414 | &nbsp;&nbsp; 224769362 |
| BNY Mellon Emerging Markets Fund | &nbsp;&nbsp; 104281095 | &nbsp;&nbsp; 165569908 |
| BNY Mellon Asset Allocation Fund | &nbsp;&nbsp; 118558163 | &nbsp;&nbsp; 133630227 |

---

The table below summarizes the cost of investments for federal income tax purposes, gross appreciation, gross depreciation and accumulated net unrealized appreciation (depreciation) on investments for each fund at August 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** |
|  | Cost of <br>Investments ($)<br>| Gross <br>Appreciation ($)<br>| Gross <br>(Depreciation) ($)<br>| Net ($) |
| BNY Mellon Income Stock Fund | &nbsp;&nbsp; 142139363 | &nbsp;&nbsp; 32563842 | &nbsp;&nbsp; (4038212)<br>| &nbsp;&nbsp; 28525630 |
| BNY Mellon Mid Cap Multi-Strategy Fund | &nbsp;&nbsp; 333887907 | &nbsp;&nbsp; 353733200 | &nbsp;&nbsp; (9534433)<br>| &nbsp;&nbsp; 344198767 |
| BNY Mellon Small Cap Multi-Strategy Fund | &nbsp;&nbsp; 158220559 | &nbsp;&nbsp; 49588366 | &nbsp;&nbsp; (8076391)<br>| &nbsp;&nbsp; 41511975 |
| BNY Mellon International Fund | &nbsp;&nbsp; 197308227 | &nbsp;&nbsp; 38381720 | &nbsp;&nbsp; (9349045)<br>| &nbsp;&nbsp; 29032675 |
| BNY Mellon Emerging Markets Fund | &nbsp;&nbsp; 143863865 | &nbsp;&nbsp; 47929322 | &nbsp;&nbsp; (22361389)<br>| &nbsp;&nbsp; 25567933 |
| BNY Mellon Asset Allocation Fund | &nbsp;&nbsp; 302513349 | &nbsp;&nbsp; 155840468 | &nbsp;&nbsp; (5950854)<br>| &nbsp;&nbsp; 149889614 |

---

**NOTE 5—**

**Plan of Reorganization:**

The Board and shareholders of BNY Mellon Income Stock Fund have approved an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Income Stock Fund (the "Predecessor Fund"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Enhanced Dividend and Income ETF (the "Acquiring ETF"). The Predecessor Fund, which is currently operated as a mutual fund, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into the Acquiring ETF. Accordingly, the Predecessor Fund will transfer its assets to the Acquiring ETF, in exchange for whole shares of the Acquiring ETF and the assumption by the Acquiring ETF of the Predecessor Fund's liabilities (the "Reorganization"). As of the end of the reporting period, total reorganization costs were estimated to be approximately $300,000, of which $139,106 was accrued by the Predecessor Fund as of August 31, 2025.

The Reorganization will be consummated on or about the close of business on December 5, 2025 (the "Closing Date").

In addition, effective October 1, 2025, (i) CDSC applicable to Class C shares (and Class A shares, if applicable) of the Predecessor Fund is no longer imposed on redemptions made by shareholders of the Predecessor Fund before the Reorganization or in connection with the Reorganization, (ii) the applicable front-end sales load is no longer imposed on investments in the Predecessor Fund's Class A shares, (iii) the Predecessor Fund's 12b-1 and shareholder services plan is being waived, and (iv) any letters of intent are closed out.

Approximately two weeks prior to Closing Date, the Predecessor Fund's Class A, Class C, Class I, Class Y, and Investor shares will be converted into Class M shares of the Predecessor Fund (without a CDSC or other charge). The share class conversion is expected to occur approximately two weeks before the Closing Date. The Predecessor Fund's exchange privilege (exchanges into and out of the fund with other series of the Trust) will be terminated on or about November 21, 2025.

In addition, approximately two weeks before the Reorganization, the Predecessor Fund may, if deemed advisable by the Adviser, effect a share split (either forward or reverse) to approximate the net asset value per share of the Acquiring ETF. After such share split (if any), any fractional shares held by shareholders will be redeemed approximately two business days before the Closing Date.

**89**

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NOTES TO FINANCIAL STATEMENTS (continued)

**NOTE 6—**

**Subsequent Event:**

Effective October 1, 2025, the Adviser has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to BNY Mellon Asset Allocation Fund, pursuant to a sub-investment advisory agreement (the "Sub-Advisory Agreement") between the Adviser and INA, with respect to BNY Mellon Asset Allocation Fund. INA, subject to the Adviser's supervision and approval, provides day-to-day management of BNY Mellon Asset Allocation Fund's assets pursuant to the Sub-Advisory Agreement. INA is an indirect wholly-owned subsidiary of BNY and is registered in the United States with the Securities and Exchange Commission as an investment adviser. INA's principal office is located at 200 Park Avenue, New York, New York 10166.

**90**

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders of the Funds and Board of Trustees of BNY Mellon Funds Trust:

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of BNY Mellon Income Stock Fund, BNY Mellon Mid Cap Multi-Strategy Fund, BNY Mellon Small Cap Multi-Strategy Fund, BNY Mellon International Fund, BNY Mellon Emerging Markets Fund and BNY Mellon Asset Allocation Fund (collectively, the "Funds"), each a series of BNY Mellon Funds Trust, including the schedules of investments, as of August 31, 2025, the related statements of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years in the five-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of August 31, 2025, the results of their operations for the year then ended, the changes in their net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of August 31, 2025, by correspondence with the custodian, a transfer agent, and brokers; when replies were not received from brokers, we performed other appropriate auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion. ![](imge50e4c172.gif)

We have served as the auditor of one or more BNY Mellon Investment Adviser, Inc. investment companies since 1994.

New York, New York

October 23, 2025

**91**

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IMPORTANT TAX INFORMATION (Unaudited)

The following distribution information is being provided in accordance with federal tax law under Sections 854(b)(1)(A) and 854(b)(1)(B) of the Internal Revenue Code.

Each fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended August 31, 2025. Also, each fund reports the maximum amount allowable but not less than the amounts listed below, if any, as a long-term capital gain dividend or a short-term capital gain dividend paid in accordance with Section 852(b)(3)(C) of the Internal Revenue Code.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Ordinary** <br>**Income** <br>**Dividends ($)**<br>| **Dividends-** <br>**Received** <br>**Deduction (%)**<sup>†</sup> <br>| **Long Term** <br>**Capital Gains ($)**<br>| **Short Term** <br>**Capital Gains ($)**<br>|
| BNY Mellon Income Stock Fund | 7798696 | 53.54 | 1.0531 | .3792 |
| BNY Mellon Mid Cap Multi-Strategy Fund | 11135369 | 94.45 | 3.7678 | .1269 |
| BNY Mellon Small Cap Multi-Strategy Fund | 4159829 | 94.56 | 1.8254 | .0513 |
| BNY Mellon International Fund | 7964623 |  |  |  |
| BNY Mellon Emerging Markets Fund | 2785914 |  |  |  |
| BNY Mellon Asset Allocation Fund | 3439367 | 25.85 | .3265 | .0104 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year. |

---

For federal tax purposes, the funds elect to provide each shareholder with their portion of each fund's income sourced from foreign countries and taxes paid from foreign countries, in accordance with Sections 853(a) and 853(c)(2) of the Internal Revenue Code. Where required by federal tax rules, shareholders will receive notification of their proportionate share of foreign sourced income and foreign taxes paid for the 2025 calendar year on Form1099-DIV, which will be mailed in early 2026.

The foreign sourced income received and foreign taxes paid for each fund are as follows:

---

| | | |
|:---|:---|:---|
|  | **Foreign Source** <br>**Income Received ($)**<br>| **Foreign** <br>**Taxes Paid ($)**<br>|
| BNY Mellon International Fund | 8113793 | 793588 |
| BNY Mellon Emerging Markets Fund | 4302946 | 1580796 |

---

**92**

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Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies (Unaudited)

N/A

**93**

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Item 9. Proxy Disclosures for Open-End Management Investment Companies (Unaudited)

A special meeting of the Predecessor Fund shareholders was held on September 10, 2025. The proposal considered at the meeting and the results were as follows:

  <u> Shares</u> <br>   <u> For </u> <u> Against </u> <u> Abstain </u> <br> To approve an Agreement and Plan of Reorganization for the Predecessor Fund providing for the reorganization of the Predecessor Fund into BNY Mellon Enhanced Dividend and Income ETF 15,771,948 32,464 58,215

**94**

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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. Each fund is charged for services performed by each fund's Chief Compliance Officer. Compensation paid by each fund during the period to the board members and the Chief Compliance Officer are within Item 7. Statements of Operations as Trustees' fees and expenses and Chief Compliance Officer fees, respectively. The aggregate amount of Trustees' fees and expenses and Chief Compliance Officer fees paid by each fund during the period is shown in the table below.

---

| | |
|:---|:---|
| **Aggregate Amount of Trustees' fees and expenses and Chief Compliance Officer fees ($)** |  |
| BNY Mellon Income Stock Fund | 54624 |
| BNY Mellon Mid Cap Multi-Strategy Fund | 188633 |
| BNY Mellon Small Cap Multi-Strategy Fund | 65738 |
| BNY Mellon International Fund | 60397 |
| BNY Mellon Emerging Markets Fund | 53242 |
| BNY Mellon Asset Allocation Fund | 99682 |

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**95**

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited)

At a meeting of the Trust's Board of Trustees (the "Board") held on March 24-25, 2025, the Board considered the renewal of (i) the Trust's Investment Advisory Agreement and Administration Agreement, pursuant to which the Adviser provides the funds with investment advisory services and The Bank of New York Mellon is responsible for the provision of administrative services to the funds (together, the "Management Agreement"); (ii) the separate Sub-Investment Advisory Agreements with respect to BNY Mellon Mid Cap Multi-Strategy Fund, pursuant to which (a) Boston Partners Global Investors, Inc. ("Boston Partners") provides day-to-day management of the fund's investments allocated to the Boston Partners Mid Cap Value Strategy, (b) Geneva Capital Management, LLC ("Geneva") provides day-to-day management of the portion of the fund's investments allocated to the Geneva Mid Cap Growth Strategy, and (c) Newton Investment Management North America, LLC ("NIMNA") provides day-to-day management of the portion of the fund's investments allocated to the Opportunistic Mid Cap Value Strategy and Mid Cap Growth Strategy; (iii) the Sub-Investment Advisory Agreement with respect to BNY Mellon Small Cap Multi-Strategy Fund, pursuant to which NIMNA provides day-to-day management of the portion of the fund's investments allocated to the Opportunistic Small Cap Strategy, the Small Cap Value Strategy and the Small Cap Growth Strategy; (iv) the Sub-Investment Advisory Agreement with respect to BNY Mellon Income Stock Fund, pursuant to which NIMNA provides day-to-day management of the fund's investments; (v) the Sub-Investment Advisory Agreement with respect to BNY Mellon International Fund, pursuant to which NIMNA provides day-to-day management of the fund's investments; (vi) the Sub-Investment Advisory Agreement with respect to BNY Mellon Emerging Markets Fund, pursuant to which Newton Investment Management Limited ("NIM") provides day-to-day management of the fund's investments; (vii) the Sub-Sub-Investment Advisory Agreement with respect to BNY Mellon Income Stock Fund, BNY Mellon Mid Cap Multi-Strategy Fund – Opportunistic Mid Cap Value Strategy and Mid Cap Growth Strategy, and BNY Mellon Small Cap Multi-Strategy – Opportunistic Small Cap Value Strategy and Small Cap Growth Strategy, pursuant to which NIMNA may use the investment advisory personnel, resources and capabilities available at its sister company, NIM, in providing the day-to-day management of the applicable funds' investments; and (viii) the Sub-Sub-Investment Advisory Agreement with respect to BNY Mellon Emerging Markets Fund, pursuant to which NIM may use the investment advisory personnel, resources and capabilities available at its sister company, NIMNA, in providing the day-to-day management of the fund's investments. The Management Agreement, together with the Sub-Investment Advisory Agreements and the Sub-Sub-Investment Advisory Agreements, are referred to as the "Agreements," Boston Partners, Geneva, NIMNA and NIM are each referred to as a "Sub-Adviser" and collectively as "Sub-Advisers," and BNY Mellon Mid Cap Multi-Strategy Fund, BNY Mellon Emerging Markets Fund, BNY Mellon Income Stock Fund, BNY Mellon International Fund, and BNY Mellon Small Cap Multi-Strategy Fund are referred to collectively as "Sub-Advised Funds." The Bank of New York Mellon has entered into a Sub-Administration Agreement with the Adviser pursuant to which The Bank of New York Mellon pays the Adviser for performing certain of the administrative services referenced above. The Board members, none of whom are "interested persons" (as defined in the Investment Company Act of 1940, as amended) of the Trust, were assisted in their review by independent legal counsel and met with counsel in executive session separate from representatives of the Adviser and the Sub-Advisers. In considering the renewal of the Agreements, 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.

<u>Analysis of Nature, Extent, and Quality of Services Provided to the Funds.</u> 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 the funds in the Trust, including the funds. The Adviser provided the number of open accounts in each fund, each fund's asset size and the allocation of fund assets among distribution channels. The Adviser also had previously provided information regarding the distribution channel(s) of the funds and the need to be able to provide ongoing shareholder services to each distribution channel, as applicable to each fund.

The Board also considered research support available to, and portfolio management capabilities of, each 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, as well as, for the Sub-Advised Funds, the Adviser's supervisory activities over the Sub-Adviser(s). The Board also considered portfolio management's brokerage policies and practices (including policies and practices regarding soft dollars) and the standards applied in seeking best execution.

<u>Comparative Analysis of the Funds' Performance and Management Fees and Expense Ratios.</u> For each fund, 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

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Class M shares with the performance of a group of institutional 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 funds in the particular Lipper classification (the "Performance Universe"), all for various periods ended December 31, 2024, 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 all institutional funds in the particular Lipper classification, excluding outliers (the "Expense Universe"). At the Adviser's request, the Board also reviewed reports prepared by Broadridge with respect to BNY Mellon Asset Allocation Fund, a "fund of funds," which included information comparing (1) the performance of the fund's Class M shares with the performance of a group of funds of funds selected by Broadridge as comparable to the fund (the "Funds of Funds Performance Group"), all for various periods ended December 31, 2024, and (2) the fund's actual and contractual management fees and total expenses with those of the same group of funds in the Funds of Funds Performance Group (the "Funds of Funds Expense Group") and with a broader group of funds consisting of the funds in the Funds of Funds Expense Group and Funds of Funds in the fund's Expense Universe (the "Funds of Funds Expense Universe"). The information for each comparison 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 and representatives of the Adviser informed the Board of the methodology Broadridge used to select the funds in the Funds of Funds Performance Group and the Funds of Funds Expense Group and the funds in the Funds of Funds 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 each fund and comparison funds and the end date selected. The Board also considered the funds' performance in light of overall financial market conditions.

Management Fee and Expense Ratio Comparisons. For each fund, the Board reviewed and considered the contractual management fee rate (i.e., the aggregate of the investment advisory and administration fees pursuant to the Investment Advisory Agreement and Administration Agreement) payable by the fund to the Adviser in light of the nature, extent and quality of the management services provided by the Adviser and the Sub-Advisers, respectively. In addition, the Board reviewed and considered the actual management fee rate paid by the fund over the fund's last fiscal year, which included any reductions for an expense limitation arrangement in place that reduced the management fee paid to the Adviser. 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.

For the Sub-Advised Funds, the Board considered the fee payable to the Sub-Adviser(s) in relation to the fee payable to the Adviser by the fund and the respective services provided by the Sub-Adviser(s) and the Adviser. The Board also took into consideration that each Sub-Adviser's fee is paid by the Adviser, out of its fee from the relevant fund, and not the fund.

For each of BNY Mellon Mid Cap Multi-Strategy Fund, BNY Mellon Small Cap Multi-Strategy Fund, BNY Mellon Asset Allocation Fund and BNY Mellon Emerging Markets Fund, representatives of the Adviser reviewed with the Board the management or advisory fees paid by any funds advised by the Adviser in the same Lipper category as the fund (the "Similar Fund(s)") and explained the nature of the Similar Fund(s). 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. For each such fund, the Board considered the relevance of the fee information provided for the Similar Fund(s) to evaluate the appropriateness of the fund's management fee. For each such fund, representatives of the Adviser noted that there were no separate accounts and/or other types of client portfolios advised by the Adviser or, for the Sub-Advised Funds, the Sub-Adviser(s), that are considered to have similar investment strategies and policies as the fund.

For BNY Mellon Income Stock Fund, representatives of the Adviser reviewed with the Board the management or advisory fees (1) paid by a Similar Fund and (2) paid to the Adviser or the Sub-Adviser or its affiliates for advising the one or more separate accounts and/or other types of client portfolios that are considered to have similar investment strategies and policies as the fund (together with the Similar 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. The Board considered the relevance of the fee information provided for the Similar Clients to evaluate the appropriateness of the fund's management fee.

For BNY Mellon International Fund, representatives of the Adviser reviewed with the Board the management or investment advisory fees paid to the Adviser or the Sub-Adviser or its affiliates 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

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited) (continued)

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. The Board considered the relevance of the fee information provided for the Similar Clients to evaluate the appropriateness of the fund's management fee. Representatives of the Adviser noted that there were no other funds advised by the Adviser that are in the same Lipper category as the fund.

**BNY Mellon Asset Allocation Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as mixed-asset target allocation growth funds by Lipper and to that of its Funds of Funds Performance Group consisted of funds classified as mixed-asset target allocation growth funds of funds.

The Board discussed with representatives of the Adviser the results of the performance comparisons and considered that the fund's total return performance was above the Performance Group median for all periods, except for the three-, four- and ten-year periods when the fund's total return performance was below the Performance Group median, and was below the Performance Universe median for all periods, except for the one- and five-year periods when the fund's total return performance was above the Performance Universe median. The Board also considered that the fund's total return performance was at or above the Funds of Funds Performance Group median for all periods, except for the two-, three- and four-year periods when the fund's total return performance was below the Funds of Funds Performance Group median. The Board also reviewed performance attribution information relating to each fund strategy to which fund assets were allocated and the managers and underlying funds responsible for the strategy compared to the strategy's benchmark index for the one-year period ended December 31, 2024, which showed that eight out of the fourteen managers/underlying funds in the strategies to which fund assets were allocated performed at or better than the respective benchmark index. The Adviser also provided a comparison of the fund's calendar year total returns to the returns of the fund's benchmark indices. The Board noted that the fund had a four-star rating from Morningstar for the five-year period based on Morningstar's risk-adjusted return measure. Management confirmed that the fund continued to apply consistent investment strategies and performed in a manner management expected under then-current market conditions.

The Board considered that the fund invests a portion of its assets in underlying mutual funds ("Acquired Funds") and that the fund's pro rata share of the expenses of the Acquired Funds was included in the fund's total expenses used to determine its rankings in the Expense Group, Expense Universe (even though not all other funds in the Expense Group and Expense Universe invest in underlying funds), Funds of Funds Expense Group and Funds of Funds Expense Universe. Moreover, unlike most funds in the Funds of Funds Expense Group and Funds of Funds Expense Universe, the fund may invest directly in equity securities and fixed-income securities and money market instruments. The Board considered that the fund's contractual management fee was higher than the Expense Group median and higher than the Funds of Funds Expense Group median contractual management fee; the fund's actual management fee was lower than the Expense Group median and lower than the Expense Universe median actual management fee (lowest in the Expense Group) and higher than the Funds of Funds Expense Group median and higher than the Funds of Funds 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 (lower without Acquired Fund expenses) and higher than the Funds of Funds Expense Group median and lower than the Funds of Funds Expense Universe median total expenses (including Acquired Fund expenses). The Board determined that the fee payable by the fund pursuant to the Management Agreement was based on services provided that were in addition to, rather than duplicative of, the services provided under the advisory contracts of the Acquired Funds in which the fund invested.

Representatives of the Adviser stated that the Adviser has contractually agreed, until December 31, 2025, to waive receipt of its fees and/or assume the expenses of the fund so that the total annual fund operating expenses of neither class of fund shares (including indirect fees and expenses of the underlying funds, but excluding shareholder services fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .87%.

**BNY Mellon Mid Cap Multi-Strategy Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as mid-cap growth funds by Lipper.

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The Board discussed with representatives of the Adviser and the Sub-Advisers the results of the performance comparisons and considered that the fund's total return performance was below the Performance Group median for all periods, except for the one- and three-year periods when the fund's total return performance was at or above the Performance Group median, and was below the Performance Universe median for all periods, except for the three-, four- and five-year periods when the fund's total return performance was above the Performance Universe median. The Board also reviewed performance attribution information relating to each fund strategy and the managers responsible for the strategy compared to the strategy's benchmark index for the one-year period ended December 31, 2024, which showed that one out of the fund's five strategies performed better than the respective benchmark index. The Adviser also provided a comparison of the fund's calendar year total returns to the returns of the fund's benchmark indices. The Board noted that the fund had a four-star overall rating, and a four-star rating for the ten-year period, from Morningstar based on Morningstar's risk-adjusted return measures. It was noted that the Performance Group and Performance Universe were comprised of mid-cap growth funds, whereas the fund allocates its assets among multiple investment strategies which include mid-cap growth, value and core investment strategies. Management confirmed that the fund continued to apply consistent investment strategies and performed in a manner management expected under then-current market conditions.

The Board considered that the fund's contractual management fee was higher than the Expense Group median, 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.

**BNY Mellon Small Cap Multi-Strategy Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as small-cap core funds by Lipper.

The Board discussed with representatives of the Adviser and the Sub-Adviser the results of the performance comparisons and considered that the fund's total return performance was below the Performance Group and Performance Universe medians for all periods, except for the ten-year period when the fund's total return performance was above the Performance Universe median. The Board also reviewed performance attribution information relating to each fund strategy and the managers responsible for the strategy compared to the strategy's benchmark index for the one-year period ended December 31, 2024, which showed that two of the three fund's strategies performed above the respective benchmark index. It was noted that the Performance Group and Performance Universe were comprised of small-cap core funds, whereas the fund allocates its assets among multiple investment strategies which include small-cap growth, value and core investment strategies. The Board discussed with representatives of the Adviser and the Sub-Adviser the reasons for the fund's underperformance versus the Performance Group and Performance Universe during certain periods under review and noted that the managers responsible for the fund's strategies are very experienced with an impressive long-term track record and continued to apply a consistent investment strategy. The Adviser also provided a comparison of the fund's calendar year total returns to the returns of the fund's benchmark indices.

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.

**BNY Mellon Income Stock Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as equity income funds by Lipper.

The Board discussed with representatives of the Adviser and the Sub-Adviser the results of the performance comparisons and considered that the fund's total return performance was at or above the Performance Group and Performance Universe medians for all periods, except for the two-year period where the fund's total return performance was below the Performance Group and Performance Universe medians. The Adviser also provided a comparison of the fund's calendar year total returns to the returns of the fund's benchmark indices. The Board noted that the fund had a four-star overall rating and a five-star rating for the three-year period and a four-star rating for the ten-year period from Morningstar based on Morningstar's risk-adjusted return measures.

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited) (continued)

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 stated that the Adviser has contractually agreed, until December 31, 2025 to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of Class A, C, I or Y shares classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .90%.

**BNY Mellon International Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as international multi-cap core funds by Lipper.

The Board discussed with representatives of the Adviser and the Sub-Adviser the results of the performance comparisons and considered that the fund's total return performance was below the Performance Group and Performance Universe medians for all periods. The Board discussed with representatives of the Adviser and the Sub-Adviser the reasons for the fund's underperformance versus the Performance Group and Performance Universe during certain periods under review and noted that the primary portfolio manager responsible for the fund is very experienced with an impressive long-term track record and continued to apply a consistent investment strategy. 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 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 approximately equivalent to Expense Universe median total expenses.

Representatives of the Adviser stated that the Adviser has contractually agreed, until December 31, 2025, to waive receipt of a portion of its management fee in the amount of .20% of the value of the fund's average daily net assets.

**BNY Mellon Emerging Markets Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as emerging markets funds by Lipper.

The Board discussed with representatives of the Adviser and Sub-Adviser the results of the performance comparisons and considered that the fund's total return performance was below the Performance Group and Performance Universe medians for all periods, except for the four-year period when the fund's total return performance was above the Performance Universe median. The Board discussed with representatives of the Adviser and the Sub-Adviser the reasons for the fund's underperformance versus the Performance Group and Performance Universe during certain periods under review and noted management's efforts to improve performance. The Adviser also provided a comparison for the fund's calendar year total returns to the returns of the fund's benchmark index.

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 stated that the Adviser has contractually agreed, until December 31, 2025, to waive receipt of a portion of its management fee in the amount of .25% of the value of the fund's average daily net assets.

<u>Analysis of Profitability and Economies of Scale.</u> Representatives of the Adviser reviewed the expenses allocated and profit received by the Adviser and its affiliates and the resulting profitability percentage for managing each fund and the aggregate profitability percentage to the Adviser and its affiliates for managing the funds in the BNY Mellon fund complex, and the method used to determine the

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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 to each fund. The Board also considered the expense limitation arrangements for certain funds and the effect each such arrangement had on the profitability of the Adviser and its affiliates. The Board also 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 Mellon fund complex. The consulting firm also had analyzed where any economies of scale might emerge in connection with the management of a fund.

As to each fund, the Board considered, on the advice of its counsel, the profitability analysis (1) as part of its evaluation of whether the fees under the Agreements, considered in relation to the mix of services provided by the Adviser and the Sub-Adviser(s), including the nature, extent and quality of such services, supported the renewal of the Agreements 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. Since the Adviser, and not the fund, pays each Sub-Adviser pursuant to the respective Sub-Advisory Agreement, the Board did not consider the Sub-Adviser's profitability to be relevant to its deliberations. 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 Mellon 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 and the Sub-Advisers from acting as investment adviser and sub-investment adviser, respectively, and took into consideration the soft dollar arrangements in effect for trading certain 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 Agreements. Based on the discussions and considerations as described above, the Board concluded and determined as follows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●The Board concluded that the nature, extent and quality of the services provided by the Adviser to each fund, and by the Sub-Adviser to the applicable Sub-Advised Fund, are satisfactory and appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●With respect to BNY Mellon Emerging Markets Fund and BNY Mellon International Fund, the Board was satisfied with the manner in which the Adviser monitors and evaluates the performance of each Sub-Adviser and with each fund's long-term performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●With respect to BNY Mellon Mid Cap Multi-Strategy Fund and BNY Mellon Small Cap Multi-Strategy Fund and, the Board determined each fund's overall performance was satisfactory in light of the totality of the information presented.

&nbsp;&nbsp;&nbsp;&nbsp;●With respect to BNY Mellon Asset Allocation Fund and BNY Mellon Income Stock Fund, the Board was satisfied with each fund's performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●With respect to each fund, as applicable, the Board concluded that the fees paid to the Adviser and the Sub-Advisers continued to be appropriate under the circumstances and in light of the factors and the totality of the services provided as discussed above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●The Board determined that the fees charged by the Adviser under the Management Agreement with respect BNY Mellon Asset Allocation Fund were for services in addition to, and not duplicative of, services provided under the advisory contracts of the Acquired Funds in which the fund invested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●The Board determined that the economies of scale which may accrue to the Adviser and its affiliates in connection with the management of the funds had been adequately considered by the Adviser in connection with the fee rate charged to each fund pursuant to the Management 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 respective Agreement with respect to each fund, 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 and the Sub-Advisers, of the Adviser (and, for the Sub-Advised Funds, the Sub-Adviser(s)) and the services provided to the fund pursuant to the respective Agreement. The Board also relied on information received on a routine and regular basis throughout the year relating to the operations of the funds and the investment management and other services provided under the respective Agreement, including information on the investment performance of each fund in comparison to similar mutual funds and benchmark performance indices; general market outlook as applicable to each fund; and compliance reports. In addition, the Board's consideration of the contractual fee arrangements for each fund had the benefit of a number of years of reviews of the Agreements, 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

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited) (continued)

years than in others, and the Board's conclusions may be based, in part, on its consideration of the respective fund's arrangements, or substantially similar arrangements for the other funds in the Trust, in prior years. The Board determined to renew the Agreement(s) for each fund.

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------© 2025 BNY Mellon Securities Corporation

Code-MFTNCSRAR0825-EQ

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**BNY Mellon Funds Trust**

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| | | |
|:---|:---|:---|
| **Funds** | **Ticker Symbols** | **Ticker Symbols** |
|  | Class M | Investor Shares |
| BNY Mellon National Intermediate Municipal Bond Fund | MPNIX | MINMX |
| BNY Mellon National Short-Term Municipal Bond Fund | MPSTX | MINSX |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | MMBMX | MMBIX |
| BNY Mellon Municipal Opportunities Fund | MOTMX | MOTIX |

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**ANNUAL FINANCIALS AND OTHER INFORMATION**

August 31, 2025

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**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.**

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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

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Contents

The Funds

Please note the 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").

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| | |
|:---|:---|
| **[Item 7. Financial Statements and Financial Highlights for Open-End Management](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_SOI-Continued-4708_1)**<br> **[Investment Companies](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_SOI-Continued-4708_1)**<br>| 2 |
| [Schedules of Investments](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_SOI-Continued-4708_1) | 2 |
| [Statements of Assets and Liabilities](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_FS-Continued-4708_1) | 60 |
| [Statements of Operations](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_FS-Continued-4708_2) | 61 |
| [Statements of Changes in Net Assets](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_FS-Continued-4708_3) | 62 |
| [Financial Highlights](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_FIHI-Continued-4708_1) | 66 |
| [Notes to Financial Statements](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_NTF-Continued-4708_1) | 74 |
| [Report of Independent Registered Public Accounting Firm](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_AUD-Continued-4708_1) | 86 |
| [Important Tax Information](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_ITI-Continued_1) | 87 |
| **[Item 8. Changes in and Disagreements with Accountants for Open-End Management](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_CDA-Continued-4708_1)**<br> **[Investment Companies](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_CDA-Continued-4708_1)**<br>| 88 |
| **[Item 9. Proxy Disclosures for Open-End Management Investment Companies](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_PRXD-Continued-4708_1)** | 89 |
| **[Item 10. Remuneration Paid to Directors, Officers, and Other of Open-End](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_RMNP-Continued_1)**<br> **[Management Investment Companies](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_RMNP-Continued_1)**<br>| 90 |
| **[Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts](#xx_c8b55676-9123-444e-9895-4096e59f3fcd_AAA-Continued-4708_1)** | 91 |

---

------

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** |
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4%** | **Long-Term Municipal Investments — 99.4%** | **Long-Term Municipal Investments — 99.4%** | **Long-Term Municipal Investments — 99.4%** | **Long-Term Municipal Investments — 99.4%** |
| **Alabama — 2.9%** | **Alabama — 2.9%** | **Alabama — 2.9%** | **Alabama — 2.9%** | **Alabama — 2.9%** |
| Black Belt Energy Gas District, Revenue Bonds (Gas Project) Ser. E<sup>(a)</sup> <br>| 5.00 | 6/1/2028 | 8230000 | 8588844 |
| Black Belt Energy Gas District, Revenue Bonds (Gas Project) Ser. F<sup>(a)</sup> <br>| 5.50 | 12/1/2028 | 8000000 | 8458255 |
| Black Belt Energy Gas District, Revenue Bonds (Project No. 6) Ser. B<sup>(a)</sup> <br>| 4.00 | 12/1/2026 | 10000000 | 10104267 |
| Black Belt Energy Gas District, Revenue Bonds, Ser. B<sup>(a)</sup> <br>| 5.25 | 12/1/2030 | 5000000 | 5397631 |
| Black Belt Energy Gas District, Revenue Bonds, Ser. C<sup>(a)</sup> <br>| 5.00 | 7/1/2031 | 5000000 | 5348718 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds (Project No. <br> 4) Ser. B1<sup>(a)</sup> <br>| 5.00 | 8/1/2028 | 1045000 | 1089121 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds (Project No. <br> 5) Ser. A<sup>(a)</sup> <br>| 5.25 | 7/1/2029 | 10000000 | 10551799 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds, Ser. C | 5.00 | 11/1/2026 | 500000 | 510983 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds, Ser. C | 5.00 | 11/1/2029 | 1000000 | 1070606 |
|  |  |  |  | **51120224** |
| **Alaska — .7%** | **Alaska — .7%** | **Alaska — .7%** | **Alaska — .7%** | **Alaska — .7%** |
| Alaska Housing Finance Corp., Revenue Bonds (Sustainable Bond) Ser. A | 3.00 | 6/1/2051 | 3120000 | 3085583 |
| Alaska International Airports System, Revenue Bonds, Refunding, Ser. B | 5.00 | 10/1/2030 | 1610000 | 1791485 |
| Alaska International Airports System, Revenue Bonds, Refunding, Ser. B | 5.00 | 10/1/2031 | 2740000 | 3059673 |
| Alaska International Airports System, Revenue Bonds, Refunding, Ser. B | 5.00 | 10/1/2032 | 3475000 | 3899422 |
|  |  |  |  | **11836163** |
| **Arizona — 2.3%** | **Arizona — 2.3%** | **Arizona — 2.3%** | **Arizona — 2.3%** | **Arizona — 2.3%** |
| Arizona Industrial Development Authority, Revenue Bonds (Great Lakes Senior <br> Living Communities LLC Project) Ser. A2<br>| 5.13 | 1/1/2059 | 3450000 | 3121977 |
| Arizona Industrial Development Authority, Revenue Bonds (Greathearts <br> Arizona Project) Ser. A<br>| 3.00 | 7/1/2034 | 770000 | 705294 |
| Arizona Industrial Development Authority, Revenue Bonds (Greathearts <br> Arizona Project) Ser. A<br>| 3.00 | 7/1/2035 | 795000 | 712405 |
| Arizona Industrial Development Authority, Revenue Bonds (Greathearts <br> Arizona Project) Ser. A<br>| 3.00 | 7/1/2036 | 820000 | 718733 |
| Arizona Industrial Development Authority, Revenue Bonds (Greathearts <br> Arizona Project) Ser. A<br>| 3.00 | 7/1/2037 | 1000000 | 858040 |
| Arizona Industrial Development Authority, Revenue Bonds (Greathearts <br> Arizona Project) Ser. A<br>| 5.00 | 7/1/2035 | 880000 | 922748 |
| Arizona Industrial Development Authority, Revenue Bonds (Sustainable Bond) <br> (Equitable School Revolving Fund Obligated Group) Ser. A<br>| 4.00 | 11/1/2049 | 2000000 | 1615185 |
| Arizona Industrial Development Authority, Revenue Bonds (Sustainable Bond) <br> (Equitable School Revolving Fund Obligated Group) Ser. A<br>| 5.00 | 11/1/2033 | 900000 | 952494 |
| Arizona Industrial Development Authority, Revenue Bonds (Sustainable Bond) <br> (Equitable School Revolving Fund Obligated Group) Ser. A<br>| 5.00 | 11/1/2034 | 1000000 | 1050282 |
| Arizona Industrial Development Authority, Revenue Bonds (Sustainable Bond) <br> (Equitable School Revolving Fund Obligated Group) Ser. A<br>| 5.00 | 11/1/2035 | 850000 | 886114 |
| Chandler Industrial Development Authority, Revenue Bonds (Intel Corp. <br> Project)<sup>(a)</sup> <br>| 4.00 | 6/1/2029 | 5000000 | 5051734 |
| Maricopa County Industrial Development Authority, Revenue Bonds, Refunding <br> (Banner Health Obligated Group)<br>| 5.00 | 1/1/2035 | 3050000 | 3109101 |
| Maricopa County Industrial Development Authority, Revenue Bonds, Refunding <br> (Banner Health Obligated Group) Ser. B<br>| 5.00 | 1/1/2034 | 15935000 | 17427947 |
| Phoenix Civic Improvement Corp., Revenue Bonds, Refunding | 5.00 | 7/1/2028 | 3775000 | 4009027 |
|  |  |  |  | **41141081** |

---

**2**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Arkansas — .5%** | **Arkansas — .5%** | **Arkansas — .5%** | **Arkansas — .5%** | **Arkansas — .5%** |
| Arkansas Development Finance Authority, Revenue Bonds (Washington <br> Regional Medical Center)<br>| 5.00 | 2/1/2029 | 1000000 | 1051565 |
| Arkansas Development Finance Authority, Revenue Bonds (Washington <br> Regional Medical Center)<br>| 5.00 | 2/1/2030 | 1135000 | 1200384 |
| Arkansas Development Finance Authority, Revenue Bonds (Washington <br> Regional Medical Center)<br>| 5.00 | 2/1/2031 | 1150000 | 1218304 |
| Arkansas Development Finance Authority, Revenue Bonds (Washington <br> Regional Medical Center)<br>| 5.00 | 2/1/2032 | 500000 | 524325 |
| Beaver Water District of Benton & Washington Counties, Revenue Bonds | 5.00 | 4/15/2032 | 200000 | 224723 |
| Beaver Water District of Benton & Washington Counties, Revenue Bonds | 5.00 | 4/15/2033 | 600000 | 667591 |
| Beaver Water District of Benton & Washington Counties, Revenue Bonds | 5.00 | 4/15/2034 | 330000 | 363822 |
| Beaver Water District of Benton & Washington Counties, Revenue Bonds | 5.00 | 4/15/2035 | 390000 | 425039 |
| Searcy Sales & Use Tax, Revenue Bonds | 4.00 | 11/1/2036 | 2365000 | 2333050 |
|  |  |  |  | **8008803** |
| **California — 6.0%** | **California — 6.0%** | **California — 6.0%** | **California — 6.0%** | **California — 6.0%** |
| Alameda Corridor Transportation Authority, Revenue Bonds, Refunding, Ser. B | 5.00 | 10/1/2036 | 1500000 | 1518415 |
| Bay Area Toll Authority, Revenue Bonds, Refunding, Ser. A<sup>(a)</sup> <br>| 2.63 | 4/1/2026 | 10000000 | 9986505 |
| California, GO, Refunding | 3.00 | 9/1/2030 | 8785000 | 8952567 |
| California Community Choice Financing Authority, Revenue Bonds (Sustainable <br> Bond) Ser. B1<sup>(a)</sup> <br>| 4.00 | 8/1/2031 | 1475000 | 1482079 |
| California Community Choice Financing Authority, Revenue Bonds (Sustainable <br> Bond) (Clean Energy Project)<sup>(a)</sup> <br>| 5.00 | 8/1/2029 | 3675000 | 3877985 |
| California Community Choice Financing Authority, Revenue Bonds (Sustainable <br> Bond) (Clean Energy Project)<sup>(a)</sup> <br>| 5.00 | 4/1/2032 | 7400000 | 7907419 |
| California Community Choice Financing Authority, Revenue Bonds (Sustainable <br> Bond) (Clean Energy Project)<sup>(a)</sup> <br>| 5.25 | 10/1/2031 | 3000000 | 3155624 |
| California Community Choice Financing Authority, Revenue Bonds (Sustainable <br> Bond) (Clean Energy Project) Ser. E1<sup>(a)</sup> <br>| 5.00 | 3/1/2031 | 1325000 | 1409448 |
| California Community Choice Financing Authority, Revenue Bonds (Sustainable <br> Bond) (Clean Energy Project) Ser. H<sup>(a)</sup> <br>| 5.00 | 8/1/2033 | 2500000 | 2719351 |
| California County Tobacco Securitization Agency, Revenue Bonds, Refunding, <br> Ser. A<br>| 5.00 | 6/1/2032 | 300000 | 312310 |
| California County Tobacco Securitization Agency, Revenue Bonds, Refunding, <br> Ser. A<br>| 5.00 | 6/1/2033 | 250000 | 259383 |
| California Health Facilities Financing Authority, Revenue Bonds (City of Hope <br> Obligated Group)<br>| 5.00 | 11/15/2049 | 5375000 | 5298291 |
| California Health Facilities Financing Authority, Revenue Bonds, Refunding <br> (Adventist Health System Obligated Group) Ser. A<br>| 4.00 | 3/1/2033 | 6990000 | 6936628 |
| California Health Facilities Financing Authority, Revenue Bonds, Refunding <br> (Children's Hospital of Orange County Obligated Group)<br>| 3.00 | 11/1/2036 | 1250000 | 1149266 |
| California Infrastructure & Economic Development Bank, Revenue Bonds, <br> Refunding (Sustainable Bond) Ser. A<br>| 3.25 | 8/1/2029 | 5600000 | 5682984 |
| California Municipal Finance Authority, Revenue Bonds (Concordia University <br> Irvine)<br>| 4.00 | 1/1/2031 | 315000 | 315272 |
| California Municipal Finance Authority, Revenue Bonds (Concordia University <br> Irvine)<br>| 4.00 | 1/1/2032 | 225000 | 222890 |
| California Municipal Finance Authority, Revenue Bonds (Concordia University <br> Irvine)<br>| 4.00 | 1/1/2033 | 235000 | 229951 |
| California Municipal Finance Authority, Revenue Bonds (Concordia University <br> Irvine)<br>| 4.00 | 1/1/2034 | 250000 | 241071 |
| California Municipal Finance Authority, Revenue Bonds (Concordia University <br> Irvine)<br>| 4.00 | 1/1/2035 | 315000 | 299174 |

---

**3**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **California — 6.0% (continued)** | **California — 6.0% (continued)** | **California — 6.0% (continued)** | **California — 6.0% (continued)** | **California — 6.0% (continued)** |
| California Municipal Finance Authority, Revenue Bonds (Concordia University <br> Irvine)<br>| 4.00 | 1/1/2036 | 385000 | 359728 |
| California Municipal Finance Authority, Revenue Bonds, Refunding <br> (Humangood – California Obligated Group) Ser. A<br>| 5.00 | 10/1/2040 | 3840000 | 3908953 |
| Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. A1 | 4.21 | 6/1/2050 | 7250000 | 5243172 |
| Los Angeles Department of Water & Power, Revenue Bonds, Refunding <br> (Insured; Build America Mutual) Ser. A<br>| 5.00 | 7/1/2040 | 1000000 | 1051057 |
| Los Angeles Department of Water & Power, Revenue Bonds, Refunding <br> (Insured; Build America Mutual) Ser. A<br>| 5.00 | 7/1/2041 | 1000000 | 1043589 |
| Los Angeles Department of Water & Power, Revenue Bonds, Refunding <br> (Insured; Build America Mutual) Ser. A<br>| 5.00 | 7/1/2042 | 625000 | 646156 |
| Los Angeles Department of Water & Power, Revenue Bonds, Refunding, Ser. B | 5.00 | 7/1/2037 | 1585000 | 1701384 |
| Los Angeles Department of Water & Power, Revenue Bonds, Refunding, Ser. C | 5.00 | 7/1/2038 | 6825000 | 7141166 |
| Los Angeles Department of Water & Power Water System, Revenue Bonds, <br> Refunding, Ser. C<br>| 5.00 | 7/1/2041 | 2100000 | 2135527 |
| New Haven Unified School District, GO (Insured; Assured Guaranty Corp.)<sup>(b)</sup> <br>| 0.00 | 8/1/2033 | 4000000 | 3108199 |
| Sacramento County Water Financing Authority, Revenue Bonds (Insured; <br> National Public Finance Guarantee Corp.) Ser. B (3 Month TSFR +0.55%)<sup>(c)</sup> <br>| 3.52 | 6/1/2034 | 7630000 | 7419593 |
| San Francisco City & County Airport Commission, Revenue Bonds, Refunding, <br> Ser. A<br>| 5.00 | 5/1/2032 | 2000000 | 2188404 |
| San Francisco City & County Airport Commission, Revenue Bonds, Refunding, <br> Ser. A<br>| 5.00 | 5/1/2034 | 3000000 | 3112195 |
| Santa Maria Joint Union High School District, GO | 3.00 | 8/1/2040 | 2390000 | 1965284 |
| Southern California Tobacco Securitization Authority, Revenue Bonds, <br> Refunding (San Diego County Tobacco Asset Securitization Corp.)<br>| 5.00 | 6/1/2034 | 500000 | 518729 |
| Southern California Tobacco Securitization Authority, Revenue Bonds, <br> Refunding (San Diego County Tobacco Asset Securitization Corp.)<br>| 5.00 | 6/1/2037 | 2000000 | 2045115 |
|  |  |  |  | **105544864** |
| **Colorado — 1.8%** | **Colorado — 1.8%** | **Colorado — 1.8%** | **Colorado — 1.8%** | **Colorado — 1.8%** |
| Colorado, COP, Ser. A | 4.00 | 12/15/2036 | 3000000 | 3002918 |
| Colorado Bridge & Tunnel Enterprise, Revenue Bonds (Insured; Assured <br> Guaranty Corp.) Ser. A<br>| 5.00 | 12/1/2035 | 1000000 | 1118986 |
| Colorado Health Facilities Authority, Revenue Bonds, Refunding (AdventHealth <br> Obligated Group) Ser. B<sup>(a)</sup> <br>| 5.00 | 11/15/2030 | 10000000 | 10939582 |
| Colorado Housing & Finance Authority, Revenue Bonds (Insured; Government <br> National Mortgage Association) Ser. F<br>| 4.25 | 11/1/2049 | 1725000 | 1747989 |
| Colorado Housing & Finance Authority, Revenue Bonds, Ser. B | 3.75 | 5/1/2050 | 1970000 | 1982506 |
| Denver City & County Airport System, Revenue Bonds, Refunding, Ser. A | 5.00 | 11/15/2028 | 5000000 | 5343449 |
| Denver City & County Airport System, Revenue Bonds, Refunding, Ser. A | 5.00 | 11/15/2033 | 2000000 | 2169329 |
| Regional Transportation District, Revenue Bonds, Refunding (Denver Transit <br> Partners) Ser. A<br>| 5.00 | 1/15/2029 | 1400000 | 1477352 |
| Regional Transportation District, Revenue Bonds, Refunding (Denver Transit <br> Partners) Ser. A<br>| 5.00 | 1/15/2030 | 1000000 | 1067713 |
| Regional Transportation District, Revenue Bonds, Refunding (Denver Transit <br> Partners) Ser. A<br>| 5.00 | 7/15/2031 | 1910000 | 2043397 |
| Regional Transportation District, Revenue Bonds, Refunding (Denver Transit <br> Partners) Ser. A<br>| 5.00 | 1/15/2032 | 1300000 | 1385798 |
|  |  |  |  | **32279019** |
| **Connecticut — 2.3%** | **Connecticut — 2.3%** | **Connecticut — 2.3%** | **Connecticut — 2.3%** | **Connecticut — 2.3%** |
| Ansonia, COP (Ansonia Fuel Cell Project) | 4.13 | 12/1/2034 | 2250000 | 2308981 |
| Connecticut, GO (Sustainable Bond) Ser. B | 4.00 | 1/15/2037 | 4425000 | 4459835 |
| Connecticut, GO, Ser. A | 5.00 | 3/15/2033 | 2000000 | 2277327 |

---

**4**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Connecticut — 2.3% (continued)** | **Connecticut — 2.3% (continued)** | **Connecticut — 2.3% (continued)** | **Connecticut — 2.3% (continued)** | **Connecticut — 2.3% (continued)** |
| Connecticut, GO, Ser. A | 5.00 | 3/15/2034 | 2250000 | 2570931 |
| Connecticut, GO, Ser. A | 5.00 | 3/15/2036 | 2250000 | 2536282 |
| Connecticut, GO, Ser. A | 5.00 | 3/15/2040 | 1850000 | 1983576 |
| Connecticut Health & Educational Facilities Authority, Revenue Bonds, Ser. <br> B2<sup>(a)</sup> <br>| 5.00 | 7/1/2032 | 10000000 | 11225863 |
| Connecticut Health & Educational Facilities Authority, Revenue Bonds, <br> Refunding (Connecticut College) Ser. M<br>| 4.00 | 7/1/2038 | 1045000 | 991971 |
| Connecticut Health & Educational Facilities Authority, Revenue Bonds, <br> Refunding (Fairfield University) Ser. R<br>| 3.25 | 7/1/2035 | 1785000 | 1682442 |
| Connecticut Health & Educational Facilities Authority, Revenue Bonds, <br> Refunding (The Stamford Hospital Obligated Group)<br>| 4.00 | 7/1/2035 | 4000000 | 4007647 |
| Connecticut Housing Finance Authority, Revenue Bonds, Refunding (Insured; <br> GNMA, FNMA, FHLMC) Ser. D1<br>| 4.00 | 11/15/2047 | 285000 | 286043 |
| Connecticut Housing Finance Authority, Revenue Bonds, Refunding <br> (Sustainable Bond) Ser. D<br>| 5.00 | 11/15/2039 | 2715000 | 2760910 |
| Windsor, GO, Refunding | 2.00 | 6/15/2029 | 1420000 | 1360072 |
| Windsor, GO, Refunding | 2.00 | 6/15/2030 | 1420000 | 1336325 |
|  |  |  |  | **39788205** |
| **District of Columbia — 2.0%** | **District of Columbia — 2.0%** | **District of Columbia — 2.0%** | **District of Columbia — 2.0%** | **District of Columbia — 2.0%** |
| District of Columbia, Revenue Bonds, Refunding (Friendship Public Charter <br> School)<br>| 5.00 | 6/1/2036 | 3200000 | 3207522 |
| District of Columbia, Revenue Bonds, Refunding (KIPP DC Obligated Group) Ser. <br> A<br>| 5.00 | 7/1/2037 | 4925000 | 4987741 |
| District of Columbia, Revenue Bonds, Refunding (KIPP DC Obligated Group) Ser. <br> A<br>| 5.00 | 7/1/2042 | 6205000 | 6107564 |
| District of Columbia, Revenue Bonds, Refunding (KIPP DC Obligated Group) Ser. <br> B<br>| 5.00 | 7/1/2037 | 1010000 | 1022867 |
| District of Columbia Housing Finance Agency, Revenue Bonds, Ser. A2<sup>(a)</sup> <br>| 4.10 | 9/1/2030 | 2500000 | 2601905 |
| Metropolitan Washington Airports Authority, Revenue Bonds, Refunding <br> (Dulles Metrorail) Ser. B<br>| 4.00 | 10/1/2036 | 1250000 | 1234943 |
| Metropolitan Washington Airports Authority, Revenue Bonds, Refunding <br> (Dulles Metrorail) Ser. B<br>| 4.00 | 10/1/2038 | 1000000 | 954922 |
| Metropolitan Washington Airports Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2027 | 4000000 | 4180556 |
| Metropolitan Washington Airports Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2031 | 3720000 | 4077910 |
| Metropolitan Washington Airports Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2032 | 7000000 | 7682070 |
|  |  |  |  | **36058000** |
| **Florida — 3.2%** | **Florida — 3.2%** | **Florida — 3.2%** | **Florida — 3.2%** | **Florida — 3.2%** |
| Florida Development Finance Corp., Revenue Bonds (Mater Academy Project) <br> Ser. A<br>| 5.00 | 6/15/2035 | 1000000 | 1010636 |
| Florida Municipal Power Agency, Revenue Bonds, Ser. A | 3.00 | 10/1/2033 | 3610000 | 3425850 |
| Jacksonville Housing Authority, Revenue Bonds (Westwood Apartments) | 5.00 | 2/1/2034 | 8500000 | 8999931 |
| Miami-Dade County, Revenue Bonds, Ser. C | 4.00 | 4/1/2037 | 8000000 | 8056633 |
| Miami-Dade County Aviation, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2034 | 6000000 | 6538252 |
| Miami-Dade County Aviation, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2035 | 3000000 | 3220449 |
| Miami-Dade County Aviation, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2036 | 2500000 | 2654214 |
| Miami-Dade County Educational Facilities Authority, Revenue Bonds, <br> Refunding (University of Miami) Ser. B<br>| 5.25 | 4/1/2036 | 10000000 | 11277474 |
| Sarasota, Revenue Bonds (Bay Park) | 5.00 | 9/1/2040 | 1000000 | 1043574 |
| Sarasota, Revenue Bonds (Bay Park) | 5.00 | 9/1/2041 | 2095000 | 2166890 |
| Sarasota, Revenue Bonds (Bay Park) | 5.00 | 9/1/2042 | 1100000 | 1129876 |

---

**5**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Florida — 3.2% (continued)** | **Florida — 3.2% (continued)** | **Florida — 3.2% (continued)** | **Florida — 3.2% (continued)** | **Florida — 3.2% (continued)** |
| Sarasota, Revenue Bonds (Bay Park) | 5.00 | 9/1/2043 | 2260000 | 2314088 |
| Tampa, Revenue Bonds (Insured; Build America Mutual) Ser. C | 3.00 | 10/1/2036 | 4940000 | 4515602 |
|  |  |  |  | **56353469** |
| **Georgia — 3.0%** | **Georgia — 3.0%** | **Georgia — 3.0%** | **Georgia — 3.0%** | **Georgia — 3.0%** |
| Fayette County Development Authority, Revenue Bonds (United States Soccer <br> Federation)<br>| 5.00 | 10/1/2039 | 1000000 | 1041059 |
| Fayette County Development Authority, Revenue Bonds (United States Soccer <br> Federation)<br>| 5.00 | 10/1/2040 | 800000 | 823608 |
| Fayette County Development Authority, Revenue Bonds (United States Soccer <br> Federation)<br>| 5.00 | 10/1/2041 | 750000 | 764562 |
| Fayette County Development Authority, Revenue Bonds (United States Soccer <br> Federation)<br>| 5.00 | 10/1/2042 | 1100000 | 1113580 |
| Fayette County Development Authority, Revenue Bonds (United States Soccer <br> Federation)<br>| 5.00 | 10/1/2043 | 1200000 | 1207092 |
| Fayette County Development Authority, Revenue Bonds (United States Soccer <br> Federation)<br>| 5.00 | 10/1/2044 | 1050000 | 1050608 |
| Georgia Municipal Electric Authority, Revenue Bonds, Refunding (Project No. 1) <br> Ser. A<br>| 5.00 | 1/1/2039 | 1100000 | 1159082 |
| Georgia Municipal Electric Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2035 | 3325000 | 3680086 |
| Main Street Natural Gas, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 4.00 | 9/1/2027 | 10000000 | 10149924 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. B<sup>(a)</sup> <br>| 5.00 | 6/1/2029 | 5000000 | 5238837 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. C<sup>(a)</sup> <br>| 5.00 | 12/1/2031 | 10355000 | 11007911 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. D<sup>(a)</sup> <br>| 5.00 | 12/1/2030 | 2000000 | 2127198 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. D<sup>(a)</sup> <br>| 5.00 | 4/1/2031 | 5000000 | 5330077 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. E<sup>(a)</sup> <br>| 5.00 | 12/1/2032 | 7500000 | 8029822 |
|  |  |  |  | **52723446** |
| **Hawaii — .6%** | **Hawaii — .6%** | **Hawaii — .6%** | **Hawaii — .6%** | **Hawaii — .6%** |
| Hawaii, GO, Refunding, Ser. FH | 4.00 | 10/1/2030 | 5625000 | 5683052 |
| Hawaii Airports System, Revenue Bonds, Ser. A | 5.00 | 7/1/2030 | 1420000 | 1549489 |
| Honolulu City & County Wastewater System, Revenue Bonds, Refunding <br> (Senior-First Bond Solutions) Ser. A<br>| 5.00 | 7/1/2034 | 750000 | 857093 |
| Honolulu City & County Wastewater System, Revenue Bonds, Refunding <br> (Senior-First Bond Solutions) Ser. A<br>| 5.00 | 7/1/2035 | 1500000 | 1714287 |
|  |  |  |  | **9803921** |
| **Idaho — .5%** | **Idaho — .5%** | **Idaho — .5%** | **Idaho — .5%** | **Idaho — .5%** |
| Idaho Health Facilities Authority, Revenue Bonds (St. Luke's Health System <br> Project) Ser. B<sup>(a)</sup> <br>| 5.00 | 3/1/2032 | 4000000 | 4346541 |
| Idaho Health Facilities Authority, Revenue Bonds (St. Luke's Health System <br> Project) Ser. C<sup>(a)</sup> <br>| 5.00 | 3/1/2035 | 2500000 | 2693582 |
| Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health <br> System Obligated Group)<br>| 4.00 | 3/1/2033 | 575000 | 583069 |
| Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health <br> System Obligated Group)<br>| 4.00 | 3/1/2034 | 400000 | 412095 |
| Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health <br> System Obligated Group)<br>| 4.00 | 3/1/2035 | 275000 | 275381 |
| Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health <br> System Obligated Group)<br>| 5.00 | 3/1/2030 | 500000 | 544253 |
| Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health <br> System Obligated Group)<br>| 5.00 | 3/1/2032 | 400000 | 441858 |
|  |  |  |  | **9296779** |
| **Illinois — 9.9%** | **Illinois — 9.9%** | **Illinois — 9.9%** | **Illinois — 9.9%** | **Illinois — 9.9%** |
| Chicago, GO, Refunding, Ser. A | 5.00 | 1/1/2026 | 3000000 | 3020225 |

---

**6**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Illinois — 9.9% (continued)** | **Illinois — 9.9% (continued)** | **Illinois — 9.9% (continued)** | **Illinois — 9.9% (continued)** | **Illinois — 9.9% (continued)** |
| Chicago, GO, Refunding, Ser. A | 5.00 | 1/1/2029 | 8000000 | 8398982 |
| Chicago, GO, Refunding, Ser. A | 5.00 | 1/1/2034 | 10000000 | 10338440 |
| Chicago Board of Education, GO, Refunding (Insured; Assured Guaranty Corp.) <br> Ser. A<br>| 5.00 | 12/1/2035 | 1000000 | 1027022 |
| Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2036 | 1340000 | 1418174 |
| Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2037 | 1675000 | 1752347 |
| Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2038 | 1780000 | 1842410 |
| Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2039 | 5700000 | 5745036 |
| Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2040 | 3350000 | 3534562 |
| Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2041 | 1650000 | 1717868 |
| Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. C | 5.00 | 1/1/2028 | 8145000 | 8536092 |
| Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. D | 5.00 | 1/1/2034 | 2750000 | 3098957 |
| Chicago Park District, GO, Ser. B | 5.00 | 1/1/2029 | 1375000 | 1475872 |
| Chicago Park District, GO, Ser. B | 5.00 | 1/1/2035 | 2500000 | 2742370 |
| Chicago Park District, GO, Refunding, Ser. C | 4.00 | 1/1/2032 | 1000000 | 1016703 |
| Chicago Park District, GO, Refunding, Ser. C | 4.00 | 1/1/2034 | 10210000 | 10262627 |
| Chicago Park District, GO, Refunding, Ser. C | 4.00 | 1/1/2035 | 4250000 | 4246622 |
| Chicago Park District, GO, Refunding, Ser. D | 4.00 | 1/1/2032 | 960000 | 976034 |
| Chicago Park District, GO, Refunding, Ser. F2 | 4.00 | 1/1/2036 | 1250000 | 1220634 |
| Chicago Park District, GO, Refunding, Ser. F2 | 4.00 | 1/1/2038 | 2000000 | 1862154 |
| Cook County Community Unit Elmwood Park School District No. 401, GO <br> (Insured; Assured Guaranty Corp.) Ser. A<br>| 4.00 | 12/1/2029 | 1480000 | 1552676 |
| DuPage & Cook Counties Township High School District No. 86, GO | 4.00 | 1/15/2035 | 5205000 | 5237609 |
| DuPage County School District No. 60, GO, Ser. A | 4.00 | 12/30/2032 | 1500000 | 1514192 |
| Illinois, GO, Ser. A | 5.00 | 3/1/2031 | 480000 | 528459 |
| Illinois, GO, Ser. A | 5.00 | 3/1/2032 | 2045000 | 2222156 |
| Illinois, GO, Ser. B | 5.00 | 12/1/2030 | 5750000 | 6329710 |
| Illinois, GO, Ser. B | 5.00 | 5/1/2036 | 3000000 | 3222292 |
| Illinois, GO, Ser. B | 5.00 | 5/1/2037 | 3500000 | 3710699 |
| Illinois, GO, Ser. D | 5.00 | 11/1/2028 | 10120000 | 10647667 |
| Illinois, GO, Refunding (Insured; Assured Guaranty Corp.) | 4.00 | 2/1/2030 | 7250000 | 7331435 |
| Illinois, Revenue Bonds, Ser. B | 5.00 | 6/15/2039 | 15000000 | 15930177 |
| Illinois Finance Authority, Revenue Bonds (Provident Group-UIC Grenshaw <br> Parking Properties LLC-University of Illinois Chicago Parking Structure <br> Project) Ser. A<br>| 5.00 | 10/1/2039 | 2010000 | 2175247 |
| Illinois Finance Authority, Revenue Bonds, Refunding (Noble Network of <br> Charter Schools) Ser. A<br>| 5.00 | 9/1/2030 | 855000 | 919802 |
| Illinois Finance Authority, Revenue Bonds, Refunding (Noble Network of <br> Charter Schools) Ser. A<br>| 5.00 | 9/1/2031 | 910000 | 982176 |
| Illinois Finance Authority, Revenue Bonds, Refunding (Noble Network of <br> Charter Schools) Ser. A<br>| 5.00 | 9/1/2032 | 960000 | 1027372 |
| Illinois Finance Authority, Revenue Bonds, Refunding (Noble Network of <br> Charter Schools) Ser. A<br>| 5.00 | 9/1/2033 | 695000 | 737297 |
| Illinois Finance Authority, Revenue Bonds, Refunding (Noble Network of <br> Charter Schools) Ser. A<br>| 5.00 | 9/1/2034 | 730000 | 767861 |
| Illinois Finance Authority, Revenue Bonds, Refunding (Noble Network of <br> Charter Schools) Ser. A<br>| 5.00 | 9/1/2035 | 770000 | 803487 |
| Illinois Finance Authority, Revenue Bonds, Refunding (OSF Healthcare System <br> Obligated Group) Ser. B2<sup>(a)</sup> <br>| 5.00 | 11/15/2026 | 3000000 | 3039344 |
| Illinois Finance Authority, Revenue Bonds, Refunding (UChicago Medicine) Ser. <br> A1<sup>(a)</sup> <br>| 5.00 | 8/15/2030 | 4000000 | 4361341 |

---

**7**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Illinois — 9.9% (continued)** | **Illinois — 9.9% (continued)** | **Illinois — 9.9% (continued)** | **Illinois — 9.9% (continued)** | **Illinois — 9.9% (continued)** |
| Illinois Toll Highway Authority, Revenue Bonds, Ser. A | 5.00 | 1/1/2042 | 3120000 | 3232934 |
| Kane Cook & DuPage Counties Community College District No. 509, GO, <br> Refunding (Elgin Community College)<br>| 3.00 | 12/15/2032 | 5000000 | 4941360 |
| Maine Township High School District No. 207, GO | 3.00 | 12/1/2032 | 1650000 | 1589179 |
| Sales Tax Securitization Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2038 | 7200000 | 7777056 |
| University of Illinois Auxiliary Facilities System, Revenue Bonds, Refunding, Ser. <br> A<br>| 5.25 | 4/1/2043 | 3000000 | 3102067 |
| University of Illinois Auxiliary Facilities System, Revenue Bonds, Refunding, Ser. <br> A<br>| 5.25 | 4/1/2044 | 2000000 | 2058182 |
| Will County Forest Preserve District, GO | 5.00 | 12/15/2040 | 1225000 | 1289210 |
| Will County Forest Preserve District, GO | 5.00 | 12/15/2043 | 1950000 | 1996726 |
| Will County Forest Preserve District, GO | 5.00 | 12/15/2044 | 1400000 | 1430006 |
|  |  |  |  | **174690850** |
| **Indiana — 2.9%** | **Indiana — 2.9%** | **Indiana — 2.9%** | **Indiana — 2.9%** | **Indiana — 2.9%** |
| Clark-Pleasant Community School Building Corp., Revenue Bonds (Insured; <br> State Aid Intercept)<br>| 5.00 | 7/15/2041 | 1575000 | 1642062 |
| Columbus Multi School Building Corp., Revenue Bonds (Insured; State Aid <br> Intercept)<br>| 5.00 | 7/15/2041 | 1000000 | 1040344 |
| Columbus Multi School Building Corp., Revenue Bonds (Insured; State Aid <br> Intercept)<br>| 5.00 | 1/15/2044 | 1050000 | 1073231 |
| Indiana Finance Authority, Revenue Bonds (Goshen Health Obligated Group) <br> Ser. A<br>| 5.00 | 11/1/2027 | 740000 | 765994 |
| Indiana Finance Authority, Revenue Bonds (Goshen Health Obligated Group) <br> Ser. A<br>| 5.00 | 11/1/2028 | 775000 | 811365 |
| Indiana Finance Authority, Revenue Bonds (Goshen Health Obligated Group) <br> Ser. B<sup>(a)</sup> <br>| 2.10 | 11/1/2026 | 2700000 | 2640339 |
| Indiana Finance Authority, Revenue Bonds (Indiana University Health <br> Obligated Group) Ser. B1<sup>(a)</sup> <br>| 5.00 | 7/1/2028 | 5000000 | 5283005 |
| Indiana Finance Authority, Revenue Bonds (Indiana University Health <br> Obligated Group) Ser. B2<sup>(a)</sup> <br>| 5.00 | 7/1/2030 | 5000000 | 5469602 |
| Indiana Finance Authority, Revenue Bonds, Refunding (Indiana University <br> Health) Ser. D4<sup>(a)</sup> <br>| 5.00 | 10/1/2035 | 6000000 | 6567381 |
| Indiana Finance Authority, Revenue Bonds, Refunding (Newsfields) | 4.00 | 2/1/2034 | 2000000 | 2072335 |
| IPS Multi-School Building Corp., Revenue Bonds (Sustainable Bond) (Insured; <br> State Aid Intercept)<br>| 5.00 | 7/15/2037 | 3825000 | 4128609 |
| IPS Multi-School Building Corp., Revenue Bonds (Sustainable Bond) (Insured; <br> State Aid Intercept)<br>| 5.00 | 7/15/2038 | 2940000 | 3133348 |
| Northern Indiana Commuter Transportation District, Revenue Bonds | 5.00 | 1/1/2043 | 710000 | 730481 |
| Northern Indiana Commuter Transportation District, Revenue Bonds | 5.00 | 1/1/2044 | 1500000 | 1534144 |
| Twin Lakes School Building Corp., Revenue Bonds (Insured; State Aid <br> Intercept)<br>| 5.00 | 1/15/2044 | 1500000 | 1528049 |
| Wawasee High School Building Corp., Revenue Bonds (Insured; State Aid <br> Intercept)<br>| 5.00 | 7/15/2041 | 1975000 | 2060567 |
| Whiting, Revenue Bonds, Refunding (BP Products North America)<sup>(a)</sup> <br>| 5.00 | 6/5/2026 | 10000000 | 10120047 |
|  |  |  |  | **50600903** |
| **Iowa — .1%** | **Iowa — .1%** | **Iowa — .1%** | **Iowa — .1%** | **Iowa — .1%** |
| Iowa Finance Authority, Revenue Bonds, Refunding, Ser. C | 5.00 | 8/1/2037 | 1175000 | 1308181 |
| Iowa Finance Authority, Revenue Bonds, Refunding, Ser. C | 5.00 | 8/1/2040 | 1000000 | 1075357 |
|  |  |  |  | **2383538** |
| **Kentucky — 2.2%** | **Kentucky — 2.2%** | **Kentucky — 2.2%** | **Kentucky — 2.2%** | **Kentucky — 2.2%** |
| Kentucky Property & Building Commission, Revenue Bonds (Project No. 132) <br> Ser. A<br>| 5.00 | 4/1/2043 | 2420000 | 2487061 |

---

**8**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Kentucky — 2.2% (continued)** | **Kentucky — 2.2% (continued)** | **Kentucky — 2.2% (continued)** | **Kentucky — 2.2% (continued)** | **Kentucky — 2.2% (continued)** |
| Kentucky Property & Building Commission, Revenue Bonds (Project No. 132) <br> Ser. A<br>| 5.00 | 4/1/2045 | 3750000 | 3815712 |
| Kentucky Property & Building Commission, Revenue Bonds, Ser. A | 5.00 | 10/1/2044 | 2150000 | 2206516 |
| Kentucky Public Energy Authority, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2030 | 10000000 | 10574861 |
| Kentucky Public Energy Authority, Revenue Bonds, Ser. C<sup>(a)</sup> <br>| 4.00 | 2/1/2028 | 8620000 | 8754095 |
| Kentucky Public Energy Authority, Revenue Bonds, Refunding, Ser. A<sup>(a)</sup> <br>| 5.25 | 12/1/2029 | 10000000 | 10651094 |
|  |  |  |  | **38489339** |
| **Louisiana — 1.1%** | **Louisiana — 1.1%** | **Louisiana — 1.1%** | **Louisiana — 1.1%** | **Louisiana — 1.1%** |
| East Baton Rouge Sewerage Commission, Revenue Bonds, Refunding, Ser. A<sup>(a)</sup> <br>| 1.30 | 2/1/2028 | 5000000 | 4693909 |
| Ernest N Morial New Orleans Exhibition Hall Authority, Special Tax Bonds | 5.00 | 7/15/2036 | 1330000 | 1466604 |
| Ernest N Morial New Orleans Exhibition Hall Authority, Special Tax Bonds | 5.00 | 7/15/2037 | 1430000 | 1559994 |
| Louisiana State Gasoline & Fuels, Revenue Bonds, Refunding, Ser. B | 5.00 | 5/1/2032 | 5000000 | 5639305 |
| Louisiana State Gasoline & Fuels, Revenue Bonds, Refunding, Ser. B | 5.00 | 5/1/2033 | 2195000 | 2484790 |
| Shreveport, GO (Insured; Assured Guaranty Corp.) | 5.00 | 3/1/2039 | 1000000 | 1044821 |
| Shreveport, GO (Insured; Assured Guaranty Corp.) | 5.00 | 3/1/2041 | 1000000 | 1019397 |
| Shreveport, GO (Insured; Assured Guaranty Corp.) | 5.00 | 3/1/2044 | 1250000 | 1243817 |
|  |  |  |  | **19152637** |
| **Maine — .2%** | **Maine — .2%** | **Maine — .2%** | **Maine — .2%** | **Maine — .2%** |
| Maine Governmental Facilities Authority, Revenue Bonds, Ser. A | 5.00 | 10/1/2037 | 3000000 | **3258355** |
| **Maryland — 1.6%** | **Maryland — 1.6%** | **Maryland — 1.6%** | **Maryland — 1.6%** | **Maryland — 1.6%** |
| Howard County Housing Commission, Revenue Bonds, Refunding (Sustainable <br> Bond) Ser. A<br>| 1.20 | 6/1/2027 | 2000000 | 1928521 |
| Maryland, GO, Ser. A | 4.00 | 3/15/2035 | 5000000 | 5105706 |
| Maryland Community Development Administration, Revenue Bonds, <br> Refunding, Ser. B<br>| 4.00 | 9/1/2049 | 1495000 | 1501799 |
| Maryland Department of Transportation, Revenue Bonds (BWI Thurgood <br> Marshall Airport) (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 8/1/2027 | 925000 | 965026 |
| Maryland Department of Transportation, Revenue Bonds (BWI Thurgood <br> Marshall Airport) (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 8/1/2029 | 1395000 | 1502693 |
| Maryland Department of Transportation, Revenue Bonds (BWI Thurgood <br> Marshall Airport) (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 8/1/2031 | 1375000 | 1496806 |
| Maryland Department of Transportation, Revenue Bonds (BWI Thurgood <br> Marshall Airport) (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 8/1/2032 | 1550000 | 1687366 |
| Maryland Department of Transportation, Revenue Bonds (BWI Thurgood <br> Marshall Airport) (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 8/1/2033 | 1150000 | 1251605 |
| Maryland Department of Transportation, Revenue Bonds (BWI Thurgood <br> Marshall Airport) (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 8/1/2034 | 675000 | 733246 |
| Maryland Department of Transportation, Revenue Bonds, Ser. A | 3.00 | 10/1/2031 | 4000000 | 3992592 |
| Maryland Stadium Authority, Revenue Bonds (Football Stadium Issue) Ser. A | 5.00 | 3/1/2031 | 7585000 | 8474372 |
|  |  |  |  | **28639732** |
| **Massachusetts — 1.7%** | **Massachusetts — 1.7%** | **Massachusetts — 1.7%** | **Massachusetts — 1.7%** | **Massachusetts — 1.7%** |
| Massachusetts, GO, Refunding, Ser. A | 5.00 | 7/1/2035 | 2000000 | 2285716 |
| Massachusetts Development Finance Agency, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 5.00 | 11/1/2035 | 5000000 | 5699259 |
| Massachusetts Development Finance Agency, Revenue Bonds, Ser. T2<sup>(a)</sup> <br>| 5.00 | 10/1/2035 | 7000000 | 7587462 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Emmanuel College) Ser. A<br>| 5.00 | 10/1/2033 | 5000000 | 4971942 |
| Massachusetts Educational Financing Authority, Revenue Bonds, Refunding, <br> Ser. B<br>| 5.00 | 7/1/2028 | 2000000 | 2095013 |

---

**9**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Massachusetts — 1.7% (continued)** | **Massachusetts — 1.7% (continued)** | **Massachusetts — 1.7% (continued)** | **Massachusetts — 1.7% (continued)** | **Massachusetts — 1.7% (continued)** |
| Massachusetts Educational Financing Authority, Revenue Bonds, Refunding, <br> Ser. B<br>| 5.00 | 7/1/2029 | 2250000 | 2378727 |
| Massachusetts Health & Educational Facilities Authority, Revenue Bonds <br> (Museum of Fine Arts) Ser. A1<sup>(d)</sup> <br>| 3.95 | 12/1/2037 | 5200000 | 5200000 |
|  |  |  |  | **30218119** |
| **Michigan — 1.2%** | **Michigan — 1.2%** | **Michigan — 1.2%** | **Michigan — 1.2%** | **Michigan — 1.2%** |
| L'Anse Creuse Public Schools, GO (Insured; Qualified School Board Loan Fund) <br> Ser. I<br>| 5.00 | 5/1/2042 | 1500000 | 1577394 |
| Michigan Finance Authority, Revenue Bonds, Refunding (McLaren Health Care <br> Corp. Obligated Group) Ser. D2<sup>(a)</sup> <br>| 1.20 | 4/13/2028 | 5000000 | 4750304 |
| Michigan Finance Authority, Revenue Bonds, Refunding (Trinity Health Credit <br> Corp. Obligated Group)<br>| 4.00 | 12/1/2035 | 2500000 | 2492438 |
| Michigan Hospital Finance Authority, Revenue Bonds, Refunding, Ser. B1<sup>(a)</sup> <br>| 5.00 | 6/1/2032 | 5000000 | 5437891 |
| Utica Community Schools, GO (Insured; Qualified School Board Loan Fund) | 5.00 | 5/1/2033 | 5470000 | 6196158 |
| Western Michigan University, Revenue Bonds, Refunding (Insured; Assured <br> Guaranty Corp.) Ser. C<br>| 5.00 | 11/15/2029 | 600000 | 656194 |
|  |  |  |  | **21110379** |
| **Minnesota — 1.0%** | **Minnesota — 1.0%** | **Minnesota — 1.0%** | **Minnesota — 1.0%** | **Minnesota — 1.0%** |
| Minneapolis-St. Paul Metropolitan Airports Commission, Revenue Bonds, Ser. B | 5.00 | 1/1/2031 | 3980000 | 4348573 |
| Minneapolis-St. Paul Metropolitan Airports Commission, Revenue Bonds, Ser. B | 5.00 | 1/1/2039 | 5000000 | 5176168 |
| Minnesota Health & Education Facilities Authority, Revenue Bonds (University <br> of St. Thomas) Ser. A<br>| 5.00 | 10/1/2039 | 3810000 | 3962924 |
| Minnesota Housing Finance Agency, Revenue Bonds, Refunding (Insured; <br> GNMA, FNMA, FHLMC) Ser. B<br>| 4.00 | 7/1/2047 | 160000 | 160667 |
| St. Cloud, Revenue Bonds, Refunding (CentraCare Health System) | 5.00 | 5/1/2041 | 2000000 | 2065252 |
| St. Cloud, Revenue Bonds, Refunding (CentraCare Health System) | 5.00 | 5/1/2042 | 2000000 | 2046662 |
|  |  |  |  | **17760246** |
| **Missouri — 1.1%** | **Missouri — 1.1%** | **Missouri — 1.1%** | **Missouri — 1.1%** | **Missouri — 1.1%** |
| Cape Girardeau County Industrial Development Authority, Revenue Bonds, <br> Refunding (St. Francis Healthcare System Obligated Group)<br>| 5.00 | 6/1/2026 | 1000000 | 1015986 |
| Kansas City, Revenue Bonds, Refunding, Ser. C | 5.00 | 4/1/2038 | 4210000 | 4579055 |
| Kansas City, Revenue Bonds, Refunding, Ser. C | 5.00 | 4/1/2039 | 2175000 | 2340020 |
| Kansas City Industrial Development Authority, Revenue Bonds (Kansas City <br> International Airport)<br>| 4.00 | 3/1/2034 | 3500000 | 3515614 |
| Kansas City Industrial Development Authority, Revenue Bonds (Kansas City <br> International Airport)<br>| 4.00 | 3/1/2035 | 2000000 | 2008545 |
| Missouri Health & Educational Facilities Authority, Revenue Bonds, Ser. C<sup>(a)</sup> <br>| 5.00 | 4/1/2035 | 5000000 | 5533620 |
|  |  |  |  | **18992840** |
| **Montana — .1%** | **Montana — .1%** | **Montana — .1%** | **Montana — .1%** | **Montana — .1%** |
| Montana Board of Housing, Revenue Bonds, Ser. A2 | 3.50 | 6/1/2044 | 475000 | 474955 |
| Montana Facility Finance Authority, Revenue Bonds, Refunding (Billings Clinic <br> Obligated Group)<br>| 5.00 | 8/15/2027 | 500000 | 521310 |
| Montana Facility Finance Authority, Revenue Bonds, Refunding (Billings Clinic <br> Obligated Group)<br>| 5.00 | 8/15/2029 | 1200000 | 1296190 |
|  |  |  |  | **2292455** |
| **Nebraska — .8%** | **Nebraska — .8%** | **Nebraska — .8%** | **Nebraska — .8%** | **Nebraska — .8%** |
| Central Plains Energy, Revenue Bonds, Refunding (Project No. 4) Ser. A<sup>(a)</sup> <br>| 5.00 | 11/1/2029 | 5000000 | 5294506 |
| Nebraska Investment Finance Authority, Revenue Bonds (Sustainable Bond) <br> (Insured; GNMA, FNMA, FHLMC) Ser. C<br>| 5.50 | 9/1/2053 | 2280000 | 2423645 |
| Omaha Airport Authority, Revenue Bonds (Insured; Assured Guaranty Corp.) | 5.00 | 12/15/2029 | 1125000 | 1217600 |

---

**10**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Nebraska — 0.8% (continued)** | **Nebraska — 0.8% (continued)** | **Nebraska — 0.8% (continued)** | **Nebraska — 0.8% (continued)** | **Nebraska — 0.8% (continued)** |
| Omaha Airport Authority, Revenue Bonds (Insured; Assured Guaranty Corp.) | 5.00 | 12/15/2030 | 1875000 | 2042311 |
| Omaha Airport Authority, Revenue Bonds (Insured; Assured Guaranty Corp.) | 5.00 | 12/15/2031 | 2235000 | 2436670 |
|  |  |  |  | **13414732** |
| **Nevada — 1.5%** | **Nevada — 1.5%** | **Nevada — 1.5%** | **Nevada — 1.5%** | **Nevada — 1.5%** |
| Clark County, Revenue Bonds | 5.00 | 7/1/2040 | 10000000 | 10602823 |
| Las Vegas Valley Water District, GO, Refunding, Ser. C | 4.00 | 6/1/2036 | 6295000 | 6407957 |
| Nevada, GO, Refunding, Ser. A | 3.00 | 5/1/2035 | 5005000 | 4696088 |
| Nevada Housing Division, Revenue Bonds (Insured; GNMA, FNMA, FHLMC) Ser. <br> A<br>| 4.00 | 4/1/2049 | 1075000 | 1084560 |
| Washoe County, Revenue Bonds, Refunding (Sierra Pacific Power Co.) Ser. B<sup>(a)</sup> <br>| 3.63 | 10/1/2029 | 4015000 | 4020434 |
|  |  |  |  | **26811862** |
| **New Jersey — 4.8%** | **New Jersey — 4.8%** | **New Jersey — 4.8%** | **New Jersey — 4.8%** | **New Jersey — 4.8%** |
| Casino Reinvestment Development Authority, Revenue Bonds (Insured; <br> Assured Guaranty Corp.) Ser. B<br>| 5.00 | 11/1/2033 | 1000000 | 1115741 |
| Casino Reinvestment Development Authority, Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2030 | 1000000 | 1100973 |
| Casino Reinvestment Development Authority, Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2031 | 1370000 | 1517788 |
| Casino Reinvestment Development Authority, Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2032 | 1355000 | 1508169 |
| Casino Reinvestment Development Authority, Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2033 | 2400000 | 2677778 |
| Casino Reinvestment Development Authority, Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2034 | 2300000 | 2567614 |
| Casino Reinvestment Development Authority, Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2035 | 1600000 | 1764518 |
| Casino Reinvestment Development Authority, Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2036 | 1250000 | 1362222 |
| Fair Lawn, GO | 2.00 | 9/1/2029 | 2215000 | 2109486 |
| New Jersey, GO (COVID-19 Emergency Bonds) Ser. A | 3.00 | 6/1/2032 | 1000000 | 990973 |
| New Jersey Economic Development Authority, Revenue Bonds (Sustainable <br> Bond) Ser. QQQ<br>| 4.00 | 6/15/2034 | 1000000 | 1015224 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2031 | 8725000 | 9691461 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2035 | 5000000 | 5656297 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding, <br> Ser. A<br>| 5.00 | 6/15/2036 | 5000000 | 5465245 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding, <br> Ser. AA<br>| 5.00 | 6/15/2032 | 7300000 | 8194114 |
| Sussex County, GO, Refunding | 2.00 | 6/15/2029 | 1945000 | 1858019 |
| Sussex County, GO, Refunding | 2.00 | 6/15/2030 | 1945000 | 1824464 |
| The Passaic County Improvement Authority, Revenue Bonds (Paterson Charter <br> School for Science and Technology Project)<br>| 4.13 | 7/1/2033 | 600000 | 604209 |
| Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2032 | 10000000 | 10365199 |
| Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2033 | 12000000 | 12387427 |
| Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2034 | 10000000 | 10275472 |
|  |  |  |  | **84052393** |

---

**11**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **New Mexico — .3%** | **New Mexico — .3%** | **New Mexico — .3%** | **New Mexico — .3%** | **New Mexico — .3%** |
| New Mexico Mortgage Finance Authority, Revenue Bonds (Insured; GNMA, <br> FNMA, FHLMC) Ser. A<br>| 3.00 | 3/1/2053 | 1565000 | 1544456 |
| New Mexico Mortgage Finance Authority, Revenue Bonds (Insured; GNMA, <br> FNMA, FHLMC) Ser. D<br>| 5.30 | 9/1/2048 | 2975000 | 2993084 |
|  |  |  |  | **4537540** |
| **New York — 11.4%** | **New York — 11.4%** | **New York — 11.4%** | **New York — 11.4%** | **New York — 11.4%** |
| Battery Park City Authority, Revenue Bonds, Refunding, Ser. D2<sup>(d)</sup> <br>| 3.90 | 11/1/2038 | 1500000 | 1500000 |
| Build New York City Resource Corp., Revenue Bonds (The Nightingale-Bamford <br> School Project)<br>| 5.00 | 7/1/2040 | 5500000 | 5753225 |
| Metropolitan Transportation Authority, Revenue Bonds, Refunding <br> (Sustainable Bond) Ser. B1<br>| 5.00 | 11/15/2036 | 9025000 | 9176794 |
| Metropolitan Transportation Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 11/15/2037 | 10000000 | 10691045 |
| Metropolitan Transportation Authority, Revenue Bonds, Refunding, Ser. C1 | 5.25 | 11/15/2031 | 7400000 | 7424179 |
| Metropolitan Transportation Authority, Revenue Bonds, Refunding, Ser. D | 5.00 | 11/15/2031 | 10000000 | 10232751 |
| Metropolitan Transportation Authority, Revenue Bonds, Refunding, Ser. D | 5.00 | 11/15/2037 | 1580000 | 1616843 |
| Metropolitan Transportation Authority Hudson Rail Yards Trust, Revenue <br> Bonds, Refunding, Ser. A<br>| 5.00 | 11/15/2051 | 5000000 | 4879151 |
| New York City, GO (LOC; Mizuho Bank Ltd) Ser. G6<sup>(d)</sup> <br>| 3.88 | 4/1/2042 | 8100000 | 8100000 |
| New York City, GO, Ser. C | 5.25 | 3/1/2047 | 5000000 | 5152697 |
| New York City, GO, Ser. D1 | 4.00 | 3/1/2042 | 1500000 | 1359094 |
| New York City, GO, Refunding, Ser. F1 | 5.00 | 8/1/2030 | 10000000 | 11056523 |
| New York City Housing Development Corp., Revenue Bonds (Sustainable Bond) | 2.15 | 11/1/2028 | 1290000 | 1243394 |
| New York City Housing Development Corp., Revenue Bonds, Ser. A1 | 3.38 | 11/15/2029 | 3000000 | 3000474 |
| New York City Industrial Development Agency, Revenue Bonds, Refunding <br> (Yankee Stadium Project) (Insured; Assured Guaranty Corp.)<br>| 5.00 | 3/1/2029 | 2000000 | 2157235 |
| New York City Transitional Finance Authority, Revenue Bonds, Ser. E1 | 5.00 | 2/1/2037 | 5000000 | 5026600 |
| New York City Transitional Finance Authority, Revenue Bonds, Refunding, Ser. <br> F1<br>| 5.00 | 11/1/2033 | 4000000 | 4517791 |
| New York Energy Finance Development Corp., Revenue Bonds<sup>(a)</sup> <br>| 5.00 | 12/1/2033 | 3250000 | 3416505 |
| New York Liberty Development Corp., Revenue Bonds, Refunding (Class <br> 1-3 World Trade Center Project) Ser. 1<sup>(e)</sup> <br>| 5.00 | 11/15/2044 | 15400000 | 14965882 |
| New York Liberty Development Corp., Revenue Bonds, Refunding (Class <br> 2-3 World Trade Center Project) Ser. 2<sup>(e)</sup> <br>| 5.15 | 11/15/2034 | 3500000 | 3502745 |
| New York Liberty Development Corp., Revenue Bonds, Refunding (Sustainable <br> Bond) Ser. A<br>| 1.45 | 11/15/2029 | 5000000 | 4510468 |
| New York Liberty Development Corp., Revenue Bonds, Refunding, Ser. 1WTC | 3.00 | 2/15/2042 | 5000000 | 3914377 |
| New York State Dormitory Authority, Revenue Bonds (Insured; Assured <br> Guaranty Corp.) Ser. A<br>| 5.00 | 10/1/2036 | 4000000 | 4405522 |
| New York State Dormitory Authority, Revenue Bonds (Insured; Assured <br> Guaranty Corp.) Ser. A<br>| 5.00 | 10/1/2037 | 6000000 | 6526574 |
| New York State Dormitory Authority, Revenue Bonds, Refunding (Northwell <br> Health Obligated Group) Ser. A<br>| 4.00 | 5/1/2038 | 2000000 | 1917961 |
| New York State Dormitory Authority, Revenue Bonds, Refunding (Northwell <br> Health Obligated Group) Ser. A<br>| 4.00 | 5/1/2039 | 2000000 | 1886296 |
| New York State Dormitory Authority, Revenue Bonds, Refunding, Ser. A | 4.00 | 3/15/2034 | 3500000 | 3541429 |
| New York State Dormitory Authority, Revenue Bonds, Refunding, Ser. A | 4.00 | 3/15/2038 | 5000000 | 4914310 |
| New York State Dormitory Authority, Revenue Bonds, Refunding, Ser. A1 | 5.00 | 3/15/2040 | 10000000 | 10577363 |
| New York State Mortgage Agency, Revenue Bonds, Ser. 223 | 2.65 | 10/1/2034 | 7020000 | 6136039 |
| New York State Mortgage Agency, Revenue Bonds, Refunding, Ser. 220 | 2.40 | 10/1/2034 | 10545000 | 8980292 |
| New York Transportation Development Corp., Revenue Bonds (LaGuardia <br> Airport Terminal B Redevelopment Project) Ser. A<br>| 5.00 | 7/1/2041 | 2000000 | 1999899 |

---

**12**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **New York — 11.4% (continued)** | **New York — 11.4% (continued)** | **New York — 11.4% (continued)** | **New York — 11.4% (continued)** | **New York — 11.4% (continued)** |
| New York Transportation Development Corp., Revenue Bonds (LaGuardia <br> Airport Terminal B Redevelopment Project) Ser. A<br>| 5.00 | 7/1/2046 | 2500000 | 2367962 |
| Port Authority of New York & New Jersey, Revenue Bonds, Refunding | 5.25 | 8/1/2047 | 5000000 | 5059303 |
| St. Lawrence County Industrial Development Agency, Revenue Bonds, <br> Refunding (Clarkson University Project)<br>| 5.00 | 9/1/2032 | 595000 | 622411 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds, Refunding | 4.00 | 11/15/2037 | 1150000 | 1142517 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds, Refunding (Sustainable <br> Bond) Ser. A<br>| 4.00 | 11/15/2037 | 4980000 | 5029929 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds, Refunding, Ser. A<sup>(b)</sup> <br>| 0.00 | 11/15/2029 | 10000000 | 8867453 |
| Troy Capital Resource Corp., Revenue Bonds, Refunding (Rensselaer <br> Polytechnic Institute)<br>| 5.00 | 9/1/2031 | 1625000 | 1766799 |
| Webster Central School District, GO, Refunding (Insured; State Aid <br> Withholding)<br>| 2.00 | 6/15/2030 | 1180000 | 1101157 |
|  |  |  |  | **200040989** |
| **Ohio — 1.6%** | **Ohio — 1.6%** | **Ohio — 1.6%** | **Ohio — 1.6%** | **Ohio — 1.6%** |
| Columbus Regional Airport Authority, Revenue Bonds, Refunding (John Glenn <br> Columbus International Airport) Ser. A<br>| 5.00 | 1/1/2030 | 1405000 | 1514338 |
| Columbus Regional Airport Authority, Revenue Bonds, Refunding (John Glenn <br> Columbus International Airport) Ser. A<br>| 5.00 | 1/1/2031 | 5910000 | 6417959 |
| Montgomery County, Revenue Bonds, Refunding (Kettering Health Network <br> Obligated Group)<br>| 4.00 | 8/1/2037 | 695000 | 662745 |
| Montgomery County, Revenue Bonds, Refunding (Kettering Health Network <br> Obligated Group)<br>| 5.00 | 8/1/2036 | 500000 | 525597 |
| Ohio Air Quality Development Authority, Revenue Bonds (Ohio Valley Electric <br> Corp.)<sup>(a)</sup> <br>| 2.60 | 10/1/2029 | 2500000 | 2396253 |
| Ohio Higher Educational Facility Commission, Revenue Bonds, Refunding (John <br> Carroll University)<br>| 4.00 | 10/1/2037 | 4835000 | 4389946 |
| Ohio Higher Educational Facility Commission, Revenue Bonds, Refunding (John <br> Carroll University)<br>| 4.00 | 10/1/2042 | 3205000 | 2642615 |
| Ohio Housing Finance Agency, Revenue Bonds (Insured; GNMA, FNMA, FHLMC) <br> Ser. A<br>| 4.50 | 3/1/2047 | 480000 | 483022 |
| Ohio Housing Finance Agency, Revenue Bonds, Refunding (Insured; GNMA, <br> FNMA, FHLMC) Ser. D<br>| 4.00 | 3/1/2047 | 640000 | 642124 |
| The University of Akron, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2033 | 5000000 | 5051236 |
| Wadsworth School District, GO | 3.00 | 12/1/2045 | 2040000 | 1535892 |
| Wadsworth School District, GO | 4.00 | 12/1/2056 | 1500000 | 1251531 |
|  |  |  |  | **27513258** |
| **Oklahoma — 1.1%** | **Oklahoma — 1.1%** | **Oklahoma — 1.1%** | **Oklahoma — 1.1%** | **Oklahoma — 1.1%** |
| Oklahoma, GO | 2.00 | 3/1/2029 | 5190000 | 4966405 |
| Oklahoma, GO | 3.00 | 3/1/2038 | 1285000 | 1084064 |
| Oklahoma Industries Authority, Revenue Bonds (Oklahoma City Public Schools <br> Project)<br>| 5.00 | 4/1/2033 | 3000000 | 3347641 |
| Oklahoma Turnpike Authority, Revenue Bonds, Ser. A | 5.00 | 1/1/2039 | 5000000 | 5439723 |
| Oklahoma Turnpike Authority, Revenue Bonds, Refunding, Ser. B<sup>(f)</sup> <br>| 5.00 | 1/1/2032 | 1600000 | 1785516 |
| Tulsa County Industrial Authority, Revenue Bonds (Broken Arrow Public <br> Schools Project)<br>| 5.00 | 9/1/2032 | 1600000 | 1792580 |
| Tulsa County Industrial Authority, Revenue Bonds (Broken Arrow Public <br> Schools Project)<br>| 5.00 | 9/1/2033 | 1050000 | 1179773 |
|  |  |  |  | **19595702** |
| **Oregon — 1.9%** | **Oregon — 1.9%** | **Oregon — 1.9%** | **Oregon — 1.9%** | **Oregon — 1.9%** |
| Oregon, GO, Ser. E | 5.00 | 6/1/2040 | 2405000 | 2501173 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2030 | 225000 | 249637 |

---

**13**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Oregon — 1.9% (continued)** | **Oregon — 1.9% (continued)** | **Oregon — 1.9% (continued)** | **Oregon — 1.9% (continued)** | **Oregon — 1.9% (continued)** |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2031 | 325000 | 364340 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2032 | 350000 | 395541 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2033 | 300000 | 340865 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2034 | 300000 | 342045 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2035 | 275000 | 309530 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2036 | 280000 | 311953 |
| Oregon Health & Science University, Revenue Bonds, Refunding, Ser. B2<sup>(a)</sup> <br>| 5.00 | 2/1/2032 | 5500000 | 6015155 |
| Oregon State Business Development Commission, Revenue Bonds (Intel Corp. <br> Project) Ser. 232<sup>(a)</sup> <br>| 3.80 | 6/15/2028 | 7000000 | 7105236 |
| Portland Sewer System, Revenue Bonds, Ser. A | 4.50 | 5/1/2037 | 13635000 | 13721412 |
| Salem Hospital Facility Authority, Revenue Bonds, Refunding (Salem Health <br> Project) Ser. A<br>| 5.00 | 5/15/2038 | 2105000 | 2158582 |
|  |  |  |  | **33815469** |
| **Pennsylvania — 5.8%** | **Pennsylvania — 5.8%** | **Pennsylvania — 5.8%** | **Pennsylvania — 5.8%** | **Pennsylvania — 5.8%** |
| Allegheny County Airport Authority, Revenue Bonds, Ser. A | 5.00 | 1/1/2027 | 2000000 | 2050318 |
| Allegheny County Higher Education Building Authority, Revenue Bonds, <br> Refunding (Duquesne University of the Holy Spirit) Ser. 20<br>| 5.00 | 3/1/2029 | 1005000 | 1082615 |
| Chester County Health & Education Facilities Authority, Revenue Bonds, <br> Refunding (Main Line Health System Obligated Group) Ser. A<br>| 4.00 | 10/1/2037 | 2105000 | 2056516 |
| Commonwealth Financing Authority, Revenue Bonds (Tobacco Master <br> Settlement Payment)<br>| 5.00 | 6/1/2030 | 4000000 | 4233274 |
| Delaware Valley Regional Finance Authority, Revenue Bonds, Ser. A | 2.00 | 10/1/2029 | 1000000 | 941868 |
| Geisinger Authority, Revenue Bonds, Refunding (Geisinger Health System <br> Obligated Group)<sup>(a)</sup> <br>| 5.00 | 4/1/2030 | 5015000 | 5414468 |
| Pennsylvania, GO | 3.00 | 5/15/2034 | 5280000 | 4924518 |
| Pennsylvania, GO | 3.00 | 5/15/2035 | 3000000 | 2742676 |
| Pennsylvania, GO | 3.50 | 3/1/2031 | 5000000 | 5042146 |
| Pennsylvania Economic Development Financing Authority, Revenue Bonds, <br> Refunding, Ser. A<br>| 4.00 | 11/15/2036 | 3750000 | 3616088 |
| Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, <br> Refunding, Ser. AT-1<br>| 5.00 | 6/15/2029 | 750000 | 811432 |
| Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, <br> Refunding, Ser. AT-1<br>| 5.00 | 6/15/2029 | 4185000 | 4257586 |
| Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, <br> Refunding, Ser. AV-1<br>| 4.00 | 6/15/2031 | 2505000 | 2567761 |
| Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, <br> Refunding, Ser. AV-1<br>| 4.00 | 6/15/2032 | 1355000 | 1382718 |
| Pennsylvania Housing Finance Agency, Revenue Bonds (Sustainable Bond) | 4.95 | 10/1/2038 | 6645000 | 6763512 |
| Pennsylvania Housing Finance Agency, Revenue Bonds, Ser. 118B | 3.80 | 10/1/2035 | 3000000 | 2963933 |
| Pennsylvania Housing Finance Agency, Revenue Bonds, Refunding, Ser. 122 | 3.65 | 10/1/2032 | 4690000 | 4691765 |
| Pennsylvania Housing Finance Agency, Revenue Bonds, Refunding, Ser. 122 | 4.00 | 10/1/2046 | 610000 | 610705 |
| Pennsylvania Turnpike Commission, Revenue Bonds, Refunding | 5.00 | 12/1/2038 | 10000000 | 10259282 |
| Philadelphia Airport, Revenue Bonds, Refunding, Ser. C | 5.00 | 7/1/2028 | 2475000 | 2618722 |
| Philadelphia Authority for Industrial Development, Revenue Bonds, Refunding <br> (St. Joseph's University)<br>| 5.00 | 11/1/2028 | 1000000 | 1060799 |
| Philadelphia Authority for Industrial Development, Revenue Bonds, Refunding <br> (St. Joseph's University)<br>| 5.00 | 11/1/2029 | 1000000 | 1073837 |
| Philadelphia Housing Authority, Revenue Bonds (PHADC Acquisition Program) <br> Ser. A<br>| 5.00 | 3/1/2033 | 5125000 | 5614147 |
| Philadelphia Housing Authority, Revenue Bonds (PHADC Acquisition Program) <br> Ser. A<br>| 5.00 | 3/1/2036 | 5775000 | 6185881 |

---

**14**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Pennsylvania — 5.8% (continued)** | **Pennsylvania — 5.8% (continued)** | **Pennsylvania — 5.8% (continued)** | **Pennsylvania — 5.8% (continued)** | **Pennsylvania — 5.8% (continued)** |
| Philadelphia Housing Authority, Revenue Bonds (PHADC Acquisition Program) <br> Ser. A<br>| 5.25 | 3/1/2039 | 8320000 | 8793316 |
| State Public School Building Authority, Revenue Bonds, Refunding (The <br> Philadelphia School District) (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 6/1/2031 | 5000000 | 5116685 |
| The Pennsylvania State University, Revenue Bonds, Ser. A | 5.00 | 9/1/2042 | 5000000 | 5036760 |
|  |  |  |  | **101913328** |
| **Rhode Island — 2.0%** | **Rhode Island — 2.0%** | **Rhode Island — 2.0%** | **Rhode Island — 2.0%** | **Rhode Island — 2.0%** |
| Rhode Island, GO, Ser. A | 5.00 | 8/1/2038 | 14075000 | 15010218 |
| Rhode Island Health & Educational Building Corp., Revenue Bonds (Providence <br> College)<br>| 5.00 | 11/1/2047 | 2045000 | 2015447 |
| Rhode Island Health & Educational Building Corp., Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. C<br>| 5.00 | 5/15/2040 | 1315000 | 1388140 |
| Rhode Island Health & Educational Building Corp., Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. C<br>| 5.00 | 5/15/2041 | 2490000 | 2601488 |
| Rhode Island Health & Educational Building Corp., Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. C<br>| 5.00 | 5/15/2042 | 4750000 | 4914419 |
| Rhode Island Health and Educational Building Corp., Revenue Bonds (Central <br> Falls Public School Projects)<br>| 5.00 | 5/15/2041 | 1595000 | 1652729 |
| Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds (Insured; <br> GNMA) Ser. 70<br>| 4.00 | 10/1/2049 | 1695000 | 1708067 |
| Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds (Sustainable <br> Bond) Ser. 76-A<br>| 3.00 | 10/1/2051 | 4815000 | 4779535 |
| Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds (Sustainable <br> Bond) Ser. 76-A<br>| 5.00 | 4/1/2029 | 535000 | 575059 |
|  |  |  |  | **34645102** |
| **South Carolina — .9%** | **South Carolina — .9%** | **South Carolina — .9%** | **South Carolina — .9%** | **South Carolina — .9%** |
| South Carolina Jobs-Economic Development Authority, Revenue Bonds, <br> Refunding, Ser. B1<sup>(a)</sup> <br>| 5.00 | 11/1/2030 | 5000000 | 5470359 |
| South Carolina Jobs-Economic Development Authority, Revenue Bonds, <br> Refunding, Ser. B2<sup>(a)</sup> <br>| 5.00 | 11/1/2032 | 2500000 | 2716610 |
| South Carolina Public Service Authority, Revenue Bonds, Refunding (Santee <br> Cooper) Ser. A<br>| 4.00 | 12/1/2037 | 2750000 | 2675747 |
| South Carolina Public Service Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 12/1/2031 | 5050000 | 5534901 |
|  |  |  |  | **16397617** |
| **Tennessee — 1.5%** | **Tennessee — 1.5%** | **Tennessee — 1.5%** | **Tennessee — 1.5%** | **Tennessee — 1.5%** |
| Clarksville Public Building Authority, Revenue Bonds (LOC; Bank of America <br> NA)<sup>(d)</sup> <br>| 3.98 | 1/1/2033 | 1905000 | 1905000 |
| Clarksville Public Building Authority, Revenue Bonds (LOC; Bank of America <br> NA) Ser. PO<sup>(d)</sup> <br>| 3.98 | 11/1/2035 | 3400000 | 3400000 |
| Knoxville, GO, Refunding | 3.00 | 5/1/2036 | 2830000 | 2610945 |
| Montgomery County Public Building Authority, Revenue Bonds (LOC; Bank of <br> America NA)<sup>(d)</sup> <br>| 3.95 | 2/1/2036 | 2300000 | 2300000 |
| Nashville & Davidson County Metropolitan Government, GO, Refunding | 2.50 | 1/1/2029 | 5000000 | 4963278 |
| Tennessee Energy Acquisition Corp., Revenue Bonds, Refunding (Gas Project) <br> Ser. A<sup>(a)</sup> <br>| 5.00 | 5/1/2028 | 1105000 | 1147126 |
| Tennessee Housing Development Agency, Revenue Bonds, Ser. 1B | 3.50 | 1/1/2047 | 385000 | 385047 |
| Tennessee Housing Development Agency, Revenue Bonds, Ser. 2B | 4.00 | 1/1/2042 | 395000 | 397581 |
| The Metropolitan Nashville Airport Authority, Revenue Bonds, Ser. B | 5.00 | 7/1/2033 | 1000000 | 1052497 |
| The Metropolitan Nashville Airport Authority, Revenue Bonds, Ser. B | 5.00 | 7/1/2039 | 6000000 | 6062113 |
| Williamson County, GO | 3.10 | 4/1/2035 | 2185000 | 2088766 |
|  |  |  |  | **26312353** |

---

**15**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Texas — 11.0%** | **Texas — 11.0%** | **Texas — 11.0%** | **Texas — 11.0%** | **Texas — 11.0%** |
| Alief Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 4.00 | 2/15/2039 | 3605000 | 3548706 |
| Alief Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 4.00 | 2/15/2040 | 3445000 | 3301199 |
| Central Texas Regional Mobility Authority, Revenue Bonds, Refunding, Ser. D | 4.00 | 1/1/2035 | 6000000 | 6102928 |
| Central Texas Turnpike System, Revenue Bonds, Refunding, Ser. C | 5.00 | 8/15/2036 | 10000000 | 10905162 |
| Clifton Higher Education Finance Corp., Revenue Bonds (IDEA Public Schools) <br> (Insured; Permanent School Fund Guarantee Program) Ser. T<br>| 4.00 | 8/15/2033 | 2220000 | 2313591 |
| Clifton Higher Education Finance Corp., Revenue Bonds (IDEA Public Schools) <br> (Insured; Permanent School Fund Guarantee Program) Ser. T<br>| 4.00 | 8/15/2035 | 1100000 | 1121665 |
| Clifton Higher Education Finance Corp., Revenue Bonds, Refunding (IDEA <br> Public Schools)(Insured; Permanent School Fund Guarantee Program)<br>| 5.00 | 8/15/2039 | 5150000 | 5399613 |
| Dallas Fort Worth International Airport, Revenue Bonds, Refunding, Ser. C | 5.00 | 11/1/2031 | 5000000 | 5468825 |
| Dallas Hotel Occupancy, Revenue Bonds, Refunding | 4.00 | 8/15/2028 | 2220000 | 2233630 |
| Dallas Hotel Occupancy, Revenue Bonds, Refunding | 4.00 | 8/15/2035 | 2000000 | 1966961 |
| Dallas Hotel Occupancy, Revenue Bonds, Refunding | 4.00 | 8/15/2036 | 1000000 | 964898 |
| Dallas Hotel Occupancy, Revenue Bonds, Refunding | 4.00 | 8/15/2038 | 2000000 | 1844405 |
| Dallas Hotel Occupancy, Revenue Bonds, Refunding (Insured; Assured Guaranty <br> Corp.)<br>| 4.00 | 8/15/2038 | 1000000 | 931219 |
| Danbury Higher Education Authority, Revenue Bonds, Ser. A | 4.00 | 8/15/2049 | 690000 | 489170 |
| Danbury Higher Education Authority, Revenue Bonds, Ser. A | 4.75 | 8/15/2034 | 1000000 | 946691 |
| Fort Bend Grand Parkway Toll Road Authority, Revenue Bonds, Refunding, Ser. <br> A<br>| 3.00 | 3/1/2035 | 4310000 | 4074356 |
| Fort Bend Grand Parkway Toll Road Authority, Revenue Bonds, Refunding, Ser. <br> A<br>| 3.00 | 3/1/2036 | 4330000 | 4001109 |
| FW Texas Street Public Facility Corp., Revenue Bonds (River Project) | 5.00 | 5/1/2038 | 5000000 | 4955216 |
| Greater Texoma Utility Authority, Revenue Bonds (Sherman Project) (Insured; <br> Build America Mutual) Ser. A<br>| 5.00 | 10/1/2036 | 1965000 | 2084280 |
| Greater Texoma Utility Authority, Revenue Bonds (Sherman Project) (Insured; <br> Build America Mutual) Ser. A<br>| 5.00 | 10/1/2039 | 5635000 | 5858001 |
| Greater Texoma Utility Authority, Revenue Bonds (Sherman Project) (Insured; <br> Build America Mutual) Ser. A<br>| 5.00 | 10/1/2041 | 2565000 | 2641132 |
| Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 4.00 | 12/1/2037 | 1545000 | 1474876 |
| Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 4.00 | 12/1/2038 | 1855000 | 1735278 |
| Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2028 | 100000 | 105075 |
| Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2029 | 250000 | 265827 |
| Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2030 | 500000 | 535249 |
| Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2031 | 985000 | 1057079 |
| Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2032 | 300000 | 319970 |
| Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 5.00 | 12/1/2033 | 500000 | 529713 |
| Houston, GO, Refunding, Ser. A | 3.00 | 3/1/2036 | 1500000 | 1343568 |
| Houston, GO, Refunding, Ser. A | 3.00 | 3/1/2037 | 2305000 | 2028611 |
| Houston Community College System, GO, Refunding | 4.00 | 2/15/2036 | 5000000 | 5008388 |
| Lower Colorado River Authority, Revenue Bonds, Refunding (LCRA <br> Transmission Services Corp.)<br>| 5.00 | 5/15/2044 | 4000000 | 4075633 |
| Lower Colorado River Authority, Revenue Bonds, Refunding (LCRA <br> Transmission Services Corp.) (Insured; Assured Guaranty Corp.)<br>| 5.00 | 5/15/2041 | 3710000 | 3857814 |
| Lower Colorado River Authority, Revenue Bonds, Refunding, Ser. B<sup>(a)</sup> <br>| 5.00 | 5/15/2032 | 6250000 | 6803253 |
| Lower Neches Valley Authority Industrial Development Corp., Revenue Bonds, <br> Refunding<sup>(d)</sup> <br>| 3.95 | 5/1/2046 | 4600000 | 4600000 |

---

**16**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Texas — 11.0% (continued)** | **Texas — 11.0% (continued)** | **Texas — 11.0% (continued)** | **Texas — 11.0% (continued)** | **Texas — 11.0% (continued)** |
| Newark Higher Education Finance Corp., Revenue Bonds (Insured; Permanent <br> School Fund Guarantee Program) Ser. A<br>| 5.00 | 8/15/2039 | 1630000 | 1726371 |
| North Texas Tollway Authority, Revenue Bonds, Refunding (Insured; Assured <br> Guaranty Corp.) Ser. B<br>| 4.00 | 1/1/2034 | 5015000 | 5039205 |
| North Texas Tollway Authority, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2030 | 1750000 | 1763174 |
| North Texas Tollway Authority, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2031 | 1875000 | 1888108 |
| Northwest Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program) Ser. A<br>| 5.00 | 2/15/2039 | 1940000 | 2059748 |
| Pewitt Consolidated Independent School District, GO (Insured; Permanent <br> School Fund Guarantee Program)<br>| 5.00 | 2/15/2039 | 1110000 | 1178676 |
| San Antonio Electric & Gas Systems, Revenue Bonds, Refunding, Ser. C | 5.00 | 2/1/2035 | 2780000 | 3080566 |
| Southwest Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 5.00 | 2/1/2040 | 1965000 | 2064602 |
| Southwest Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 5.00 | 2/1/2041 | 2000000 | 2087298 |
| Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds <br> (CHRISTUS Health Obligated Group) Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2032 | 2750000 | 2976300 |
| Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds <br> (Texas Health Resources System) Ser. C<sup>(a)</sup> <br>| 5.00 | 11/15/2032 | 10000000 | 11035021 |
| Texas, GO, Ser. B<sup>(d)</sup> <br>| 2.75 | 12/1/2043 | 4495000 | 4495000 |
| Texas Municipal Gas Acquisition & Supply Corp. IV, Revenue Bonds, Ser. B<sup>(a)</sup> <br>| 5.50 | 1/1/2034 | 8000000 | 8754753 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, <br> Refunding (LBJ Infrastructure Group)<br>| 4.00 | 6/30/2032 | 2800000 | 2853605 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, <br> Refunding (LBJ Infrastructure Group)<br>| 4.00 | 12/31/2033 | 1215000 | 1221992 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, <br> Refunding (LBJ Infrastructure Group)<br>| 4.00 | 6/30/2034 | 1500000 | 1502385 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, <br> Refunding (LBJ Infrastructure Group)<br>| 4.00 | 12/31/2034 | 1500000 | 1493034 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, <br> Refunding (LBJ Infrastructure Group)<br>| 4.00 | 6/30/2035 | 1330000 | 1313229 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, <br> Refunding (LBJ Infrastructure Group)<br>| 4.00 | 12/31/2035 | 1250000 | 1223705 |
| Texas Public Finance Authority, Revenue Bonds, Refunding | 4.00 | 2/1/2039 | 2000000 | 1982917 |
| Texas Water Development Board, Revenue Bonds (Sustainable Bond) | 4.50 | 10/15/2037 | 5700000 | 5895344 |
| Texas Water Development Board, Revenue Bonds, Ser. B | 4.00 | 10/15/2037 | 10000000 | 9998317 |
| The Mesquite Housing Finance Corp., Revenue Bonds (Palladium Carver <br> Living)<sup>(a)</sup> <br>| 3.35 | 8/1/2027 | 2750000 | 2767488 |
| Van Alstyne Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 5.00 | 2/15/2041 | 1360000 | 1419415 |
| Van Alstyne Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 5.00 | 2/15/2042 | 1425000 | 1473823 |
| Van Alstyne Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 5.00 | 2/15/2043 | 1495000 | 1536460 |
| Van Alstyne Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 5.00 | 2/15/2044 | 1555000 | 1589713 |
| Waxahachie Independent School District, GO, Refunding (Insured; Permanent <br> School Fund Guarantee Program)<br>| 4.00 | 8/15/2037 | 4700000 | 4747863 |
|  |  |  |  | **194061203** |
| **U.S. Related — .8%** | **U.S. Related — .8%** | **U.S. Related — .8%** | **U.S. Related — .8%** | **U.S. Related — .8%** |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.00 | 10/1/2027 | 100000 | 102828 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.00 | 10/1/2028 | 100000 | 104131 |

---

**17**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **U.S. Related — 0.8% (continued)** | **U.S. Related — 0.8% (continued)** | **U.S. Related — 0.8% (continued)** | **U.S. Related — 0.8% (continued)** | **U.S. Related — 0.8% (continued)** |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.00 | 10/1/2029 | 250000 | 262794 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.00 | 10/1/2030 | 135000 | 142875 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.00 | 10/1/2031 | 200000 | 211533 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.00 | 10/1/2033 | 200000 | 210920 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2028 | 100000 | 105325 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2029 | 225000 | 240032 |
| Guam, Revenue Bonds, Refunding, Ser. A | 5.00 | 12/1/2028 | 2000000 | 2044521 |
| Guam, Revenue Bonds, Refunding, Ser. A | 5.00 | 12/1/2029 | 2000000 | 2041456 |
| Guam, Revenue Bonds, Refunding, Ser. G | 5.00 | 1/1/2031 | 1000000 | 1080353 |
| Guam, Revenue Bonds, Refunding, Ser. G | 5.00 | 1/1/2032 | 1000000 | 1086880 |
| Guam, Revenue Bonds, Refunding, Ser. G | 5.00 | 1/1/2033 | 1000000 | 1083779 |
| Guam, Revenue Bonds, Refunding, Ser. G | 5.00 | 1/1/2034 | 1000000 | 1085808 |
| Guam Government Waterworks Authority, Revenue Bonds, Ser. A | 5.25 | 7/1/2040 | 1110000 | 1161248 |
| Guam Government Waterworks Authority, Revenue Bonds, Ser. A | 5.25 | 7/1/2041 | 1060000 | 1098741 |
| Guam Government Waterworks Authority, Revenue Bonds, Ser. A | 5.25 | 7/1/2042 | 1000000 | 1030284 |
| Puerto Rico, GO, Ser. A<sup>(b)</sup> <br>| 0.00 | 7/1/2033 | 25549 | 17892 |
| Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2033 | 19853 | 19424 |
| Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2035 | 17845 | 17111 |
| Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2037 | 15316 | 14226 |
| Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2041 | 20824 | 18131 |
| Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2046 | 21657 | 17899 |
| Puerto Rico, GO, Ser. A1 | 5.63 | 7/1/2027 | 21911 | 22661 |
| Puerto Rico, GO, Ser. A1 | 5.63 | 7/1/2029 | 21555 | 22973 |
| Puerto Rico, GO, Ser. A1 | 5.75 | 7/1/2031 | 20936 | 22976 |
| Puerto Rico, Notes, Ser. CW<sup>(d)</sup> <br>| 2.63 | 11/1/2043 | 114305 | 71869 |
| Puerto Rico Electric Power Authority, Revenue Bonds, Refunding, Ser. ZZ<sup>(g)</sup> <br>| 5.25 | 7/1/2018 | 2500000 | 1653125 |
|  |  |  |  | **14991795** |
| **Utah — 1.0%** | **Utah — 1.0%** | **Utah — 1.0%** | **Utah — 1.0%** | **Utah — 1.0%** |
| Jordan School District, GO (Insured; School Board Guaranty) | 2.00 | 6/15/2032 | 1225000 | 1111119 |
| Jordan School District, GO (Insured; School Board Guaranty) | 2.00 | 6/15/2033 | 1250000 | 1106482 |
| Nebo School District, GO, Refunding (Insured; School Board Guaranty) | 2.00 | 7/1/2033 | 4490000 | 3954006 |
| Salt Lake City Airport, Revenue Bonds, Ser. A | 5.00 | 7/1/2029 | 2500000 | 2583191 |
| Salt Lake City Airport, Revenue Bonds, Ser. A | 5.00 | 7/1/2030 | 2000000 | 2058774 |
| Salt Lake City Airport, Revenue Bonds, Ser. A | 5.00 | 7/1/2031 | 2400000 | 2458832 |
| Utah Charter School Finance Authority, Revenue Bonds (American Leadership <br> Academy Project)<br>| 5.00 | 10/15/2045 | 3180000 | 3194986 |
| Vineyard Redevelopment Agency, Tax Allocation Bonds, Refunding (Geneva <br> Urban Renewal Project) (Insured; Assured Guaranty Corp.)<br>| 5.00 | 5/1/2029 | 200000 | 216645 |
| Vineyard Redevelopment Agency, Tax Allocation Bonds, Refunding (Geneva <br> Urban Renewal Project) (Insured; Assured Guaranty Corp.)<br>| 5.00 | 5/1/2030 | 215000 | 235950 |
| Vineyard Redevelopment Agency, Tax Allocation Bonds, Refunding (Geneva <br> Urban Renewal Project) (Insured; Assured Guaranty Corp.)<br>| 5.00 | 5/1/2031 | 235000 | 259676 |
|  |  |  |  | **17179661** |
| **Vermont — .6%** | **Vermont — .6%** | **Vermont — .6%** | **Vermont — .6%** | **Vermont — .6%** |
| Vermont Educational & Health Buildings Financing Agency, Revenue Bonds, <br> Refunding (University of Vermont Medical Center Obligated Group) Ser. A<br>| 5.00 | 12/1/2032 | 10000000 | **10097333** |
| **Washington — 3.1%** | **Washington — 3.1%** | **Washington — 3.1%** | **Washington — 3.1%** | **Washington — 3.1%** |
| Central Puget Sound Regional Transit Authority, Revenue Bonds, Refunding <br> (Sustainable Bond) Ser. S1<br>| 3.00 | 11/1/2036 | 10000000 | 9098115 |

---

**18**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** | **BNY Mellon National Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Washington — 3.1% (continued)** | **Washington — 3.1% (continued)** | **Washington — 3.1% (continued)** | **Washington — 3.1% (continued)** | **Washington — 3.1% (continued)** |
| King County Housing Authority, Revenue Bonds (Kirkland Heights Project) <br> (Insured; HUD SECT 8) Ser. A1<br>| 5.00 | 1/1/2028 | 5225000 | 5261417 |
| King County Housing Authority, Revenue Bonds, Refunding | 5.00 | 7/1/2040 | 1040000 | 1045710 |
| Port of Seattle, Revenue Bonds, Refunding, Ser. B | 5.25 | 7/1/2039 | 2200000 | 2352472 |
| Port of Seattle, Revenue Bonds, Refunding, Ser. C | 5.00 | 8/1/2030 | 2800000 | 3063423 |
| Snohomish County, GO, Refunding, Ser. A | 2.00 | 12/1/2032 | 5450000 | 4907798 |
| Washington, GO, Refunding, Ser. R2023B | 5.00 | 7/1/2038 | 11690000 | 12583349 |
| Washington Health Care Facilities Authority, Revenue Bonds, Refunding (Fred <br> Hutchinson Cancer Center) Ser. A<br>| 5.00 | 3/1/2036 | 4000000 | 4409234 |
| Washington Health Care Facilities Authority, Revenue Bonds, Refunding (Fred <br> Hutchinson Cancer Center) Ser. A<br>| 5.00 | 3/1/2037 | 1860000 | 2037771 |
| Washington Health Care Facilities Authority, Revenue Bonds, Refunding (Fred <br> Hutchinson Cancer Center) Ser. A<br>| 5.00 | 3/1/2038 | 2000000 | 2170638 |
| Washington Health Care Facilities Authority, Revenue Bonds, Refunding <br> (Providence St. Joseph Health Obligated Group) Ser. B<br>| 5.00 | 10/1/2032 | 2500000 | 2584150 |
| Washington Health Care Facilities Authority, Revenue Bonds, Refunding <br> (Seattle Cancer Care Alliance)<sup>(e)</sup> <br>| 3.00 | 12/1/2034 | 435000 | 399455 |
| Washington Health Care Facilities Authority, Revenue Bonds, Refunding <br> (Seattle Cancer Care Alliance)<sup>(e)</sup> <br>| 3.00 | 12/1/2035 | 445000 | 398898 |
| Washington Health Care Facilities Authority, Revenue Bonds, Refunding <br> (Virginia Manson Medical Center Obligated Group)<br>| 5.00 | 8/15/2026 | 2000000 | 2041371 |
| Washington Higher Education Facilities Authority, Revenue Bonds (Seattle <br> University Project)<br>| 5.00 | 5/1/2027 | 500000 | 517439 |
| Washington Higher Education Facilities Authority, Revenue Bonds (Seattle <br> University Project)<br>| 5.00 | 5/1/2029 | 500000 | 536000 |
| Washington Higher Education Facilities Authority, Revenue Bonds (Seattle <br> University Project)<br>| 5.00 | 5/1/2031 | 790000 | 855814 |
| Washington Higher Education Facilities Authority, Revenue Bonds (Seattle <br> University Project)<br>| 5.00 | 5/1/2032 | 500000 | 537400 |
|  |  |  |  | **54800454** |
| **West Virginia — .2%** | **West Virginia — .2%** | **West Virginia — .2%** | **West Virginia — .2%** | **West Virginia — .2%** |
| West Virginia Hospital Finance Authority, Revenue Bonds (West Virginia <br> University Health System Obligated Group) Ser. B<sup>(a)</sup> <br>| 5.00 | 6/1/2033 | 3250000 | **3467284** |
| **Wisconsin — .2%** | **Wisconsin — .2%** | **Wisconsin — .2%** | **Wisconsin — .2%** | **Wisconsin — .2%** |
| Wisconsin Health & Educational Facilities Authority, Revenue Bonds, Refunding <br> (Ascension Health Credit Group) Ser. A<br>| 5.00 | 11/15/2039 | 4000000 | **4012614** |
| **Total Investments** (cost $1,776,530,980) | **Total Investments** (cost $1,776,530,980) |  | **99.4%** | **1749204056** |
| **Cash and Receivables (Net)** | **Cash and Receivables (Net)** |  | **.6%** | **10771742** |
| **Net Assets**  | **Net Assets**  | **Net Assets**  | **100.0%** | **1759975798** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| COP—Certificate of Participation |
| FHLMC—Federal Home Loan Mortgage Corporation |
| FNMA—Federal National Mortgage Association |
| GNMA—Government National Mortgage Association |
| GO—Government Obligation |
| LOC—Letter of Credit |
| TSFR—Term Secured Overnight Financing Rate Reference Rates |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> These securities have a put feature; the date shown represents the put date and the bond holder can take a specific action to retain the bond after the put date.

<sup>(b)</sup> Security issued with a zero coupon. Income is recognized through the accretion of discount.

**19**

------

SCHEDULES OF INVESTMENTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(c)</sup> Variable rate security—Interest rate resets periodically and the rate shown is the interest rate in effect at period end. Security description also includes the reference rate and spread if published and available. 

<sup>(d)</sup> The Variable Rate is determined by the Remarketing Agent in its sole discretion based on prevailing market conditions and may, but need not, be established by reference to one or more financial indices. 

<sup>(e)</sup> 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 August 31, 2025, these securities amounted to $19,266,980 or 1.1% of net assets. 

<sup>(f)</sup> Security purchased on a when-issued or delayed basis for which the fund has not taken delivery as of August 31, 2025.

<sup>(g)</sup> Non-income producing—security in default.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** |
| **Futures** | **Futures** | **Futures** | **Futures** | **Futures** | **Futures** |
| Description | Number of <br>Contracts<br>| Expiration | Notional <br>Value ($)<br>| Market <br>Value ($)<br>| Unrealized <br>(Depreciation) ($)<br>|
| **Futures Short** |  |  |  |  |  |
| Ultra U.S. Treasury Bond | &nbsp;&nbsp; 43 | &nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp; 4998744 | &nbsp;&nbsp; 5012188 | &nbsp;&nbsp; (13444) |
| **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** |  |  | **(13444)** |

---

See notes to financial statements.

**20**

------

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Short-Term Municipal Bond Fund** | **BNY Mellon National Short-Term Municipal Bond Fund** | **BNY Mellon National Short-Term Municipal Bond Fund** | **BNY Mellon National Short-Term Municipal Bond Fund** | **BNY Mellon National Short-Term Municipal Bond Fund** |
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4%** | **Long-Term Municipal Investments — 99.4%** | **Long-Term Municipal Investments — 99.4%** | **Long-Term Municipal Investments — 99.4%** | **Long-Term Municipal Investments — 99.4%** |
| **Alabama — 2.3%** | **Alabama — 2.3%** | **Alabama — 2.3%** | **Alabama — 2.3%** | **Alabama — 2.3%** |
| Black Belt Energy Gas District, Revenue Bonds, Refunding, Ser. D1 | 4.00 | 12/1/2025 | 420000 | 420958 |
| Black Belt Energy Gas District, Revenue Bonds, Refunding, Ser. D1 | 4.00 | 6/1/2026 | 450000 | 453394 |
| Jefferson County, Revenue Bonds, Refunding | 5.00 | 10/1/2027 | 1000000 | 1048153 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds (Project <br> No. 4) Ser. B1<sup>(a)</sup> <br>| 5.00 | 8/1/2028 | 7360000 | 7670749 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds, Ser. C | 5.00 | 11/1/2027 | 500000 | 520221 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds, Ser. C | 5.00 | 11/1/2028 | 785000 | 830048 |
| The Southeast Alabama Gas Supply District, Revenue Bonds, Refunding <br> (Project No. 2)<br>| 5.00 | 5/1/2026 | 750000 | 758679 |
|  |  |  |  | **11702202** |
| **Alaska — .9%** | **Alaska — .9%** | **Alaska — .9%** | **Alaska — .9%** | **Alaska — .9%** |
| Alaska International Airports System, Revenue Bonds, Refunding, Ser. B | 5.00 | 10/1/2028 | 2495000 | 2685259 |
| Alaska International Airports System, Revenue Bonds, Refunding, Ser. B | 5.00 | 10/1/2029 | 1825000 | 2002048 |
|  |  |  |  | **4687307** |
| **Arizona — 2.4%** | **Arizona — 2.4%** | **Arizona — 2.4%** | **Arizona — 2.4%** | **Arizona — 2.4%** |
| Arizona Industrial Development Authority, Revenue Bonds (Sustainable <br> Bond) (Equitable School Revolving Fund Obligated Group) Ser. A<br>| 5.00 | 11/1/2028 | 4000000 | 4213587 |
| Chandler Industrial Development Authority, Revenue Bonds (Intel Corp. <br> Project)<sup>(a)</sup> <br>| 4.00 | 6/1/2029 | 2000000 | 2020693 |
| Maricopa County Industrial Development Authority, Revenue Bonds (Banner <br> Health Obligated Group) Ser. A1<sup>(a)</sup> <br>| 5.00 | 5/15/2026 | 2750000 | 2784095 |
| Maricopa County Industrial Development Authority, Revenue Bonds, <br> Refunding (Banner Health Obligated Group) Ser. D<sup>(a)</sup> <br>| 5.00 | 5/15/2026 | 3125000 | 3175182 |
|  |  |  |  | **12193557** |
| **Arkansas — .5%** | **Arkansas — .5%** | **Arkansas — .5%** | **Arkansas — .5%** | **Arkansas — .5%** |
| Arkansas Development Finance Authority, Revenue Bonds (Division of <br> Emergency Management Project)<br>| 4.00 | 6/1/2029 | 1000000 | 1024425 |
| Arkansas Development Finance Authority, Revenue Bonds (Washington <br> Regional Medical Center)<br>| 5.00 | 2/1/2027 | 755000 | 772790 |
| Arkansas Development Finance Authority, Revenue Bonds (Washington <br> Regional Medical Center)<br>| 5.00 | 2/1/2028 | 820000 | 851975 |
|  |  |  |  | **2649190** |
| **California — 2.9%** | **California — 2.9%** | **California — 2.9%** | **California — 2.9%** | **California — 2.9%** |
| California Pollution Control Financing Authority, Revenue Bonds (Waste <br> Management Project) Ser. C<br>| 4.25 | 12/1/2027 | 1000000 | 1013519 |
| Inglewood Unified School District, GO, Ser. B | 5.00 | 8/1/2030 | 640000 | 710419 |
| Los Angeles Department of Water & Power, Revenue Bonds | 5.00 | 7/1/2028 | 2245000 | 2393660 |
| Los Angeles Department of Water & Power, Revenue Bonds, Ser. B | 5.00 | 7/1/2028 | 1000000 | 1066218 |
| Los Angeles Department of Water & Power, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2028 | 500000 | 526732 |
| Los Angeles Department of Water & Power, Revenue Bonds, Refunding, Ser. B | 5.00 | 7/1/2030 | 2015000 | 2225489 |
| Los Angeles Department of Water & Power, Revenue Bonds, Refunding, Ser. C | 5.00 | 7/1/2028 | 1015000 | 1082211 |
| Los Angeles Department of Water & Power Water System, Revenue Bonds, <br> Refunding, Ser. A<br>| 5.00 | 1/1/2030 | 2750000 | 2965476 |
| Los Angeles Department of Water & Power Water System, Revenue Bonds, <br> Refunding, Ser. B<br>| 4.00 | 7/1/2028 | 580000 | 601866 |

---

**21**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **California — 2.9% (continued)** | **California — 2.9% (continued)** | **California — 2.9% (continued)** | **California — 2.9% (continued)** | **California — 2.9% (continued)** |
| Los Angeles Department of Water & Power Water System, Revenue Bonds, <br> Refunding, Ser. B<br>| 5.00 | 7/1/2028 | 1375000 | 1466050 |
| Vernon Electric System, Revenue Bonds, Refunding, Ser. 2022-A | 5.00 | 8/1/2026 | 600000 | 612444 |
|  |  |  |  | **14664084** |
| **Colorado — 2.8%** | **Colorado — 2.8%** | **Colorado — 2.8%** | **Colorado — 2.8%** | **Colorado — 2.8%** |
| Colorado, COP, Ser. J | 5.00 | 3/15/2032 | 2070000 | 2133275 |
| Colorado Health Facilities Authority, Revenue Bonds (AdventHealth Obligated <br> Group) Ser. A<sup>(a)</sup> <br>| 5.00 | 11/15/2029 | 1000000 | 1085355 |
| Colorado Health Facilities Authority, Revenue Bonds, Refunding <br> (Adventhealth Obligated Group)<sup>(a)</sup> <br>| 5.00 | 11/15/2028 | 2875000 | 3057056 |
| Colorado Health Facilities Authority, Revenue Bonds, Refunding <br> (CommonSpirit Health Obligated Group) Ser. A<br>| 5.00 | 12/1/2029 | 790000 | 856280 |
| Colorado Health Facilities Authority, Revenue Bonds, Refunding, Ser. B<sup>(a)</sup> <br>| 5.00 | 8/17/2026 | 3605000 | 3683815 |
| Colorado Housing & Finance Authority, Revenue Bonds, Ser. B | 3.75 | 5/1/2050 | 875000 | 880555 |
| Colorado Housing & Finance Authority, Revenue Bonds, Refunding (Insured; <br> Government National Mortgage Association) Ser. K<br>| 3.88 | 5/1/2050 | 1215000 | 1226440 |
| Colorado Housing & Finance Authority, Revenue Bonds, Refunding <br> (Sustainable Bond) (Insured; Government National Mortgage Association) <br> Ser. B<br>| 3.00 | 5/1/2051 | 1410000 | 1401270 |
|  |  |  |  | **14324046** |
| **Connecticut — 1.9%** | **Connecticut — 1.9%** | **Connecticut — 1.9%** | **Connecticut — 1.9%** | **Connecticut — 1.9%** |
| Connecticut Health & Educational Facilities Authority, Revenue Bonds, Ser. <br> A3<sup>(a)</sup> <br>| 2.95 | 7/1/2027 | 2105000 | 2117718 |
| Connecticut Health & Educational Facilities Authority, Revenue Bonds, Ser. <br> B1<sup>(a)</sup> <br>| 5.00 | 7/1/2030 | 5350000 | 5934471 |
| Connecticut Health & Educational Facilities Authority, Revenue Bonds, <br> Refunding (The Stamford Hospital Obligated Group)<br>| 5.00 | 7/1/2026 | 200000 | 203056 |
| Connecticut Housing Finance Authority, Revenue Bonds, Refunding, Ser. A1 | 4.00 | 11/15/2045 | 1355000 | 1365718 |
|  |  |  |  | **9620963** |
| **Delaware — .4%** | **Delaware — .4%** | **Delaware — .4%** | **Delaware — .4%** | **Delaware — .4%** |
| Delaware Housing Authority, Revenue Bonds (Insured; GNMA,FNMA, FHLMC) <br> Ser. B<br>| 6.00 | 1/1/2055 | 1020000 | 1123373 |
| University of Delaware, Revenue Bonds, Refunding, Ser. C<sup>(b)</sup> <br>| 3.90 | 11/1/2037 | 1000000 | 1000000 |
|  |  |  |  | **2123373** |
| **District of Columbia — 1.7%** | **District of Columbia — 1.7%** | **District of Columbia — 1.7%** | **District of Columbia — 1.7%** | **District of Columbia — 1.7%** |
| District of Columbia Water & Sewer Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2031 | 2750000 | 2837874 |
| District of Columbia, DC, GO, Refunding, Ser. A | 5.00 | 6/1/2031 | 2060000 | 2137227 |
| Metropolitan Washington Airports Authority Aviation, Revenue Bonds, <br> Refunding, Ser. A<br>| 5.00 | 10/1/2025 | 1500000 | 1502657 |
| Metropolitan Washington Airports Authority Aviation, Revenue Bonds, <br> Refunding, Ser. A<br>| 5.00 | 10/1/2026 | 2250000 | 2302155 |
|  |  |  |  | **8779913** |
| **Florida — 7.5%** | **Florida — 7.5%** | **Florida — 7.5%** | **Florida — 7.5%** | **Florida — 7.5%** |
| Brevard County School District, COP, Refunding, Ser. A | 5.00 | 7/1/2028 | 1750000 | 1874800 |
| Brevard County School District, COP, Refunding, Ser. A | 5.00 | 7/1/2031 | 1390000 | 1440488 |
| Broward County Port Facilities, Revenue Bonds, Ser. B | 5.00 | 9/1/2025 | 1875000 | 1875000 |
| County of Miami-Dade FL Aviation Revenue, Revenue Bonds, Refunding | 5.00 | 10/1/2028 | 1135000 | 1163623 |
| Florida Insurance Assistance Interlocal Agency, Inc., Revenue Bonds, <br> Refunding, Ser. A1<br>| 5.00 | 9/1/2027 | 3410000 | 3490356 |
| Hialeah Utility System, Revenue Bonds, Refunding | 5.00 | 10/1/2027 | 1465000 | 1529314 |
| Hialeah Utility System, Revenue Bonds, Refunding | 5.00 | 10/1/2028 | 1540000 | 1635747 |

---

**22**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Florida — 7.5% (continued)** | **Florida — 7.5% (continued)** | **Florida — 7.5% (continued)** | **Florida — 7.5% (continued)** | **Florida — 7.5% (continued)** |
| Hillsborough County Industrial Development Authority, Revenue Bonds, <br> Refunding (BayCare Obligated Group) Ser. C<br>| 5.00 | 11/15/2029 | 3510000 | 3853403 |
| Lee County Housing Finance Authority, Revenue Bonds<sup>(a)</sup> <br>| 3.50 | 12/1/2027 | 2850000 | 2876843 |
| Miami Beach Redevelopment Agency, Tax Allocation Bonds, Refunding <br> (Historic Convention Village)(Insured; Assured Guaranty Corp.)<br>| 5.00 | 2/1/2027 | 1000000 | 1034513 |
| Miami Beach Redevelopment Agency, Tax Allocation Bonds, Refunding <br> (Historic Convention Village)(Insured; Assured Guaranty Corp.)<br>| 5.00 | 2/1/2028 | 1625000 | 1719761 |
| Miami-Dade County Housing Finance Authority, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 3.25 | 8/1/2029 | 5000000 | 5037845 |
| Orange County Convention Center/Orlando, Revenue Bonds, Ser. A | 5.00 | 10/1/2031 | 1000000 | 1022230 |
| Palm Beach County School District, COP, Refunding, Ser. A | 5.00 | 8/1/2028 | 1750000 | 1880380 |
| Palm Beach County School District, COP, Refunding, Ser. A | 5.00 | 8/1/2029 | 2250000 | 2464726 |
| Palm Beach County School District, COP, Refunding, Ser. A | 5.00 | 8/1/2030 | 1100000 | 1223179 |
| Southeast Overtown Park West Community Redevelopment Agency, Tax <br> Allocation Bonds (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 3/1/2027 | 800000 | 827839 |
| Southeast Overtown Park West Community Redevelopment Agency, Tax <br> Allocation Bonds (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 3/1/2028 | 750000 | 793146 |
| Southeast Overtown Park West Community Redevelopment Agency, Tax <br> Allocation Bonds, Refunding (Insured; Assured Guaranty Corp.) Ser. B<br>| 5.00 | 3/1/2027 | 1250000 | 1293499 |
| Southeast Overtown Park West Community Redevelopment Agency, Tax <br> Allocation Bonds, Refunding (Insured; Assured Guaranty Corp.) Ser. B<br>| 5.00 | 3/1/2028 | 1000000 | 1057528 |
|  |  |  |  | **38094220** |
| **Georgia — 3.3%** | **Georgia — 3.3%** | **Georgia — 3.3%** | **Georgia — 3.3%** | **Georgia — 3.3%** |
| Cobb-Marietta Coliseum & Exhibit Hall Authority, Revenue Bonds (Cobb <br> Galleria Centre Project)<br>| 5.00 | 10/1/2027 | 375000 | 394652 |
| Main Street Natural Gas, Revenue Bonds, Ser. A | 5.00 | 6/1/2027 | 500000 | 517026 |
| Main Street Natural Gas, Revenue Bonds, Ser. A | 5.00 | 12/1/2027 | 500000 | 521960 |
| Main Street Natural Gas, Revenue Bonds, Ser. A | 5.00 | 12/1/2028 | 835000 | 884770 |
| Main Street Natural Gas, Revenue Bonds, Ser. C | 4.00 | 12/1/2025 | 1000000 | 1002256 |
| Main Street Natural Gas, Revenue Bonds, Ser. E | 5.00 | 12/1/2028 | 2225000 | 2347039 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. B | 5.00 | 12/1/2030 | 3300000 | 3540823 |
| Private Colleges & Universities Authority, Revenue Bonds, Refunding (Emory <br> University) Ser. A<br>| 5.00 | 9/1/2029 | 5000000 | 5473840 |
| The Burke County Development Authority, Revenue Bonds, Refunding (Vogtle <br> Power Co. Plant)<sup>(a)</sup> <br>| 3.38 | 3/12/2027 | 2000000 | 2006552 |
|  |  |  |  | **16688918** |
| **Hawaii — .7%** | **Hawaii — .7%** | **Hawaii — .7%** | **Hawaii — .7%** | **Hawaii — .7%** |
| Hawaii Department of Budget & Finance, Revenue Bonds, Refunding (Hawaii <br> Pacific Health Obligated Group)<br>| 5.00 | 7/1/2027 | 2000000 | 2088537 |
| Hawaii Department of Budget & Finance, Revenue Bonds, Refunding (Hawaii <br> Pacific Health Obligated Group) Ser. A<br>| 5.00 | 7/1/2027 | 1535000 | 1602952 |
|  |  |  |  | **3691489** |
| **Illinois — 5.5%** | **Illinois — 5.5%** | **Illinois — 5.5%** | **Illinois — 5.5%** | **Illinois — 5.5%** |
| Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. E | 5.00 | 1/1/2026 | 3000000 | 3023520 |
| Chicago Park District, GO, Refunding, Ser. C | 5.00 | 1/1/2026 | 1025000 | 1032797 |
| Chicago Park District, GO, Refunding, Ser. C | 5.00 | 1/1/2027 | 2050000 | 2115148 |
| Illinois, GO, Ser. B | 5.00 | 5/1/2027 | 1000000 | 1038413 |
| Illinois, GO, Ser. B | 5.00 | 5/1/2028 | 1050000 | 1114184 |
| Illinois, GO, Ser. C | 5.00 | 5/1/2029 | 550000 | 594915 |
| Illinois, Revenue Bonds (Insured; Build America Mutual) Ser. A | 5.00 | 6/15/2032 | 2750000 | 2874602 |
| Illinois, Revenue Bonds, Ser. A | 5.00 | 6/15/2030 | 1405000 | 1538150 |

---

**23**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Illinois — 5.5% (continued)** | **Illinois — 5.5% (continued)** | **Illinois — 5.5% (continued)** | **Illinois — 5.5% (continued)** | **Illinois — 5.5% (continued)** |
| Illinois Finance Authority, Revenue Bonds, Refunding (Noble Network of <br> Charter Schools) Ser. A<br>| 5.00 | 9/1/2027 | 490000 | 508755 |
| Illinois Finance Authority, Revenue Bonds, Refunding (Noble Network of <br> Charter Schools) Ser. A<br>| 5.00 | 9/1/2028 | 515000 | 543247 |
| Illinois Finance Authority, Revenue Bonds, Refunding (Noble Network of <br> Charter Schools) Ser. A<br>| 5.00 | 9/1/2029 | 810000 | 865107 |
| Illinois Finance Authority, Revenue Bonds, Refunding, Ser. C<sup>(c)</sup> <br>| 5.00 | 1/1/2030 | 620000 | 681187 |
| Illinois Housing Development Authority, Revenue Bonds (Hope Manor Village <br> Joliet)(Insured; HUD SECT 8)<sup>(a)</sup> <br>| 3.15 | 2/1/2028 | 2000000 | 2012272 |
| Illinois Toll Highway Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2028 | 1250000 | 1323371 |
| Metropolitan Pier & Exposition Authority, Revenue Bonds, Refunding, <br> (Mccormick Place Expansion Project) Ser. A<br>| 5.00 | 6/15/2029 | 3000000 | 3127380 |
| Metropolitan Water Reclamation District of Greater Chicago, GO, Refunding, <br> Ser. C<br>| 5.00 | 12/1/2030 | 1000000 | 1117710 |
| Sales Tax Securitization Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2029 | 1000000 | 1078331 |
| State of Illinois, GO, Refunding, Ser. B | 5.00 | 10/1/2028 | 1025000 | 1095739 |
| Winnebago-Boone Etc Counties Community College District No. 511 Rock <br> Valley Clg, GO, Refunding (Rock Valley College) Ser. B<br>| 5.00 | 1/1/2029 | 2145000 | 2315873 |
|  |  |  |  | **28000701** |
| **Indiana — 4.9%** | **Indiana — 4.9%** | **Indiana — 4.9%** | **Indiana — 4.9%** | **Indiana — 4.9%** |
| Indiana Finance Authority, Revenue Bonds (Indiana University Health <br> Obligated Group) Ser. B1<sup>(a)</sup> <br>| 5.00 | 7/1/2028 | 1000000 | 1056601 |
| Indiana Finance Authority, Revenue Bonds, Ser. D | 5.00 | 8/1/2031 | 5000000 | 5108519 |
| Indiana Finance Authority, Revenue Bonds, (Deaconess Health System <br> Obligated Group) Ser. A<sup>(d)</sup> <br>| 4.00 | 9/1/2026 | 2500000 | 2539209 |
| Indiana Finance Authority, Revenue Bonds, Refunding (Newsfields) | 4.00 | 2/1/2029 | 1500000 | 1555367 |
| Indiana Finance Authority, Revenue Bonds, Refunding, Ser. D1<sup>(a)</sup> <br>| 5.00 | 10/1/2029 | 4250000 | 4569313 |
| Indiana Finance Authority, Revenue Bonds, Refunding, (Indianapolis Power & <br> Light Company Project) Ser. B<sup>(a)</sup> <br>| 0.95 | 4/1/2026 | 3300000 | 3252799 |
| Rockport, Revenue Bonds, Refunding, Ser. A<sup>(a)</sup> <br>| 3.70 | 6/1/2029 | 3650000 | 3705062 |
| The Bloomington Public Building Corp., Revenue Bonds | 5.00 | 2/1/2028 | 710000 | 748839 |
| The Bloomington Public Building Corp., Revenue Bonds | 5.00 | 8/1/2028 | 840000 | 894514 |
| The Bloomington Public Building Corp., Revenue Bonds | 5.00 | 2/1/2029 | 760000 | 816190 |
| The Bloomington Public Building Corp., Revenue Bonds | 5.00 | 8/1/2029 | 740000 | 801119 |
|  |  |  |  | **25047532** |
| **Iowa — .7%** | **Iowa — .7%** | **Iowa — .7%** | **Iowa — .7%** | **Iowa — .7%** |
| Iowa Higher Education Loan Authority, Revenue Bonds (Des Moines <br> University Project)<br>| 5.00 | 10/1/2025 | 570000 | 570710 |
| Lewis Central Community School District, GO | 5.00 | 6/1/2027 | 3115000 | 3245973 |
|  |  |  |  | **3816683** |
| **Kansas — .6%** | **Kansas — .6%** | **Kansas — .6%** | **Kansas — .6%** | **Kansas — .6%** |
| Shawnee County, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 3.75 | 5/1/2028 | 3000000 | **3034985** |
| **Kentucky — 2.9%** | **Kentucky — 2.9%** | **Kentucky — 2.9%** | **Kentucky — 2.9%** | **Kentucky — 2.9%** |
| Kentucky Property & Building Commission, Revenue Bonds, Refunding <br> (Project No. 130) Ser. B<br>| 5.00 | 11/1/2027 | 3750000 | 3959777 |
| Kentucky Public Energy Authority, Revenue Bonds, Ser. A | 5.00 | 7/1/2026 | 500000 | 507227 |
| Kentucky Public Energy Authority, Revenue Bonds, Ser. A | 5.00 | 7/1/2027 | 550000 | 567059 |
| Kentucky Public Energy Authority, Revenue Bonds, Ser. A | 5.00 | 7/1/2028 | 1000000 | 1045299 |
| Kentucky Public Energy Authority, Revenue Bonds, Ser. C<sup>(a)</sup> <br>| 4.00 | 2/1/2028 | 1690000 | 1716290 |

---

**24**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Kentucky — 2.9% (continued)** | **Kentucky — 2.9% (continued)** | **Kentucky — 2.9% (continued)** | **Kentucky — 2.9% (continued)** | **Kentucky — 2.9% (continued)** |
| Kentucky Public Energy Authority, Revenue Bonds, Refunding, Ser. A<sup>(a)</sup> <br>| 5.25 | 12/1/2029 | 3550000 | 3781139 |
| Rural Water Financing Agency, Revenue Bonds (Public Construction Project) <br> Ser. A<br>| 3.90 | 11/1/2025 | 3250000 | 3251616 |
|  |  |  |  | **14828407** |
| **Louisiana — .5%** | **Louisiana — .5%** | **Louisiana — .5%** | **Louisiana — .5%** | **Louisiana — .5%** |
| Louisiana Local Government Environmental Facilities & Community <br> Development Authority, Revenue Bonds, Refunding (Calcasieu Parish <br> School Project) (Insured; Build America Mutual)<br>| 5.00 | 12/1/2026 | 510000 | 523973 |
| Louisiana Local Government Environmental Facilities & Community <br> Development Authority, Revenue Bonds, Refunding (Calcasieu Parish <br> School Project) (Insured; Build America Mutual)<br>| 5.00 | 12/1/2027 | 285000 | 298658 |
| Louisiana Local Government Environmental Facilities & Community <br> Development Authority, Revenue Bonds, Refunding (Calcasieu Parish <br> School Project) (Insured; Build America Mutual)<br>| 5.00 | 12/1/2029 | 330000 | 356863 |
| Shreveport, GO (Insured; Assured Guaranty Corp.) | 5.00 | 3/1/2026 | 275000 | 277966 |
| Shreveport, GO (Insured; Assured Guaranty Corp.) | 5.00 | 3/1/2027 | 375000 | 386765 |
| Shreveport, GO (Insured; Assured Guaranty Corp.) | 5.00 | 3/1/2028 | 340000 | 357706 |
| Shreveport, GO (Insured; Assured Guaranty Corp.) | 5.00 | 3/1/2029 | 310000 | 331479 |
|  |  |  |  | **2533410** |
| **Maine — .5%** | **Maine — .5%** | **Maine — .5%** | **Maine — .5%** | **Maine — .5%** |
| Maine Governmental Facilities Authority, Revenue Bonds, Ser. A | 5.00 | 10/1/2027 | 350000 | 368414 |
| Maine Housing Authority, Revenue Bonds, Ser. C | 4.00 | 11/15/2050 | 1020000 | 1027371 |
| Maine Housing Authority, Revenue Bonds, Ser. F | 4.25 | 11/15/2048 | 1050000 | 1059375 |
|  |  |  |  | **2455160** |
| **Maryland — .2%** | **Maryland — .2%** | **Maryland — .2%** | **Maryland — .2%** | **Maryland — .2%** |
| Washington Suburban Sanitary Commission, Revenue Bonds, BAN, Ser. B<sup>(b)</sup> <br>| 3.88 | 6/1/2027 | 1200000 | **1200000** |
| **Massachusetts — 3.3%** | **Massachusetts — 3.3%** | **Massachusetts — 3.3%** | **Massachusetts — 3.3%** | **Massachusetts — 3.3%** |
| Massachusetts, Revenue Bonds (Sustainable Bond) Ser. A | 3.68 | 7/15/2026 | 10000000 | 9982014 |
| Massachusetts Development Finance Agency, Revenue Bonds, Ser. N<sup>(a)</sup> <br>| 3.30 | 7/1/2028 | 1825000 | 1851275 |
| Massachusetts Health & Educational Facilities Authority, Revenue Bonds <br> (Museum of Fine Arts) Ser. A1<sup>(b)</sup> <br>| 3.95 | 12/1/2037 | 4900000 | 4900000 |
|  |  |  |  | **16733289** |
| **Michigan — 1.0%** | **Michigan — 1.0%** | **Michigan — 1.0%** | **Michigan — 1.0%** | **Michigan — 1.0%** |
| Michigan Finance Authority, Revenue Bonds (Trinity Health Credit Group) Ser. <br> B<sup>(a)</sup> <br>| 5.00 | 12/1/2028 | 1000000 | 1062436 |
| Michigan Strategic Fund, Revenue Bonds (Consumers Energo Co.)<sup>(a)</sup> <br>| 3.35 | 10/1/2027 | 3000000 | 2963138 |
| Van Buren Public Schools, GO (Insured; Qualified School Board Loan Fund) <br> Ser. III<br>| 5.00 | 5/1/2027 | 1190000 | 1236039 |
|  |  |  |  | **5261613** |
| **Minnesota — 1.0%** | **Minnesota — 1.0%** | **Minnesota — 1.0%** | **Minnesota — 1.0%** | **Minnesota — 1.0%** |
| Minneapolis, Revenue Bonds (Allina Health System) Ser. A<sup>(a)</sup> <br>| 5.00 | 11/15/2028 | 1215000 | 1287214 |
| Minnesota Health & Education Facilities Authority, Revenue Bonds, Ser. B1<sup>(a)</sup> <br>| 5.00 | 10/1/2027 | 3000000 | 3096646 |
| Minnesota Housing Finance Agency, Revenue Bonds (Insured; GNMA,FNMA, <br> FHLMC) Ser. B<br>| 3.50 | 7/1/2050 | 715000 | 717844 |
|  |  |  |  | **5101704** |
| **Mississippi — .9%** | **Mississippi — .9%** | **Mississippi — .9%** | **Mississippi — .9%** | **Mississippi — .9%** |
| Mississippi Development Bank, Revenue Bonds (Insured; Build America <br> Mutual)<br>| 5.00 | 5/1/2027 | 810000 | 841203 |
| Mississippi Development Bank, Revenue Bonds (Insured; Build America <br> Mutual)<br>| 5.00 | 5/1/2029 | 1000000 | 1079588 |

---

**25**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Mississippi — 0.9% (continued)** | **Mississippi — 0.9% (continued)** | **Mississippi — 0.9% (continued)** | **Mississippi — 0.9% (continued)** | **Mississippi — 0.9% (continued)** |
| Mississippi Development Bank, Revenue Bonds (Insured; Build America <br> Mutual)<br>| 5.00 | 5/1/2030 | 1000000 | 1095146 |
| Mississippi Development Bank, Revenue Bonds, Ser. A | 5.00 | 5/1/2029 | 1225000 | 1330078 |
|  |  |  |  | **4346015** |
| **Missouri — 2.0%** | **Missouri — 2.0%** | **Missouri — 2.0%** | **Missouri — 2.0%** | **Missouri — 2.0%** |
| Jackson County, Revenue Bonds | 4.00 | 12/1/2026 | 1345000 | 1349081 |
| Joplin Schools, GO, Refunding (Insured; Build America Mutual) | 5.00 | 3/1/2028 | 2000000 | 2120537 |
| Kansas Planned Industrial Expansion Authority, Revenue Bonds (The Depot <br> on Old Santa Fe)<sup>(a)</sup> <br>| 5.00 | 7/1/2027 | 3150000 | 3239613 |
| Missouri Board of Public Buildings, Revenue Bonds, Refunding, Ser. A | 4.00 | 10/1/2026 | 2000000 | 2002266 |
| Missouri Housing Development Commission, Revenue Bonds (Insured; <br> GNMA,FNMA, FHLMC) Ser. A<br>| 3.50 | 11/1/2050 | 1260000 | 1264345 |
|  |  |  |  | **9975842** |
| **Nebraska — 1.8%** | **Nebraska — 1.8%** | **Nebraska — 1.8%** | **Nebraska — 1.8%** | **Nebraska — 1.8%** |
| Gretna Public Schools, GO (Insured; Assured Guaranty Corp.) | 5.00 | 12/15/2030 | 4650000 | 4883746 |
| Nebraska Investment Finance Authority, Revenue Bonds (Insured; <br> GNMA,FNMA, FHLMC) Ser. A<br>| 3.00 | 9/1/2045 | 3070000 | 3049792 |
| Nebraska Investment Finance Authority, Revenue Bonds, Refunding (Insured; <br> GNMA,FNMA, FHLMC) Ser. E<br>| 3.75 | 9/1/2049 | 1180000 | 1180647 |
|  |  |  |  | **9114185** |
| **Nevada — 1.0%** | **Nevada — 1.0%** | **Nevada — 1.0%** | **Nevada — 1.0%** | **Nevada — 1.0%** |
| Clark County, GO, Refunding, Ser. B | 5.00 | 11/1/2028 | 5000000 | **5126883** |
| **New Hampshire — .5%** | **New Hampshire — .5%** | **New Hampshire — .5%** | **New Hampshire — .5%** | **New Hampshire — .5%** |
| New Hampshire Health and Education Facilities Authority Act, Revenue <br> Bonds, Refunding, Ser. A<sup>(a)</sup> <br>| 3.30 | 8/3/2027 | 2565000 | **2584532** |
| **New Jersey — 1.4%** | **New Jersey — 1.4%** | **New Jersey — 1.4%** | **New Jersey — 1.4%** | **New Jersey — 1.4%** |
| Casino Reinvestment Development Authority, Inc., Revenue Bonds, (Insured; <br> Assured Guaranty Corp.) Ser. B<br>| 5.00 | 11/1/2029 | 500000 | 544467 |
| Casino Reinvestment Development Authority, Inc., Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2027 | 700000 | 734764 |
| Casino Reinvestment Development Authority, Inc., Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2028 | 750000 | 803337 |
| Casino Reinvestment Development Authority, Inc., Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2029 | 1000000 | 1088934 |
| Passaic Valley Sewerage Commission, Revenue Bonds, Refunding (Insured; <br> Assured Guaranty Corp.) Ser. J<br>| 3.00 | 12/1/2028 | 4090000 | 4137175 |
|  |  |  |  | **7308677** |
| **New Mexico — .2%** | **New Mexico — .2%** | **New Mexico — .2%** | **New Mexico — .2%** | **New Mexico — .2%** |
| Rio Rancho, Revenue Bonds | 5.00 | 6/1/2029 | 1055000 | **1152383** |
| **New York — 7.5%** | **New York — 7.5%** | **New York — 7.5%** | **New York — 7.5%** | **New York — 7.5%** |
| Build New York City Resource Corp., Revenue Bonds (The Young Men's And <br> Young Women's Hebrew Association Project)<br>| 5.00 | 12/1/2028 | 2750000 | 2952689 |
| New York City, GO (LOC; Mizuho Bank Ltd) Ser. G6<sup>(b)</sup> <br>| 3.88 | 4/1/2042 | 1700000 | 1700000 |
| New York City, GO, Ser. C | 5.00 | 3/1/2027 | 2000000 | 2079484 |
| New York City Housing Development Corp., Revenue Bonds, Ser. E2<sup>(a)</sup> <br>| 3.80 | 1/3/2028 | 2400000 | 2437348 |
| New York City Transitional Finance Authority, Revenue Bonds, Refunding, Ser. <br> J1<br>| 5.00 | 11/1/2028 | 5000000 | 5403005 |
| New York State Dormitory Authority, Revenue Bonds (Insured; Assured <br> Guaranty Corp.) Ser. A<br>| 5.00 | 10/1/2028 | 1100000 | 1188987 |
| New York State Dormitory Authority, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 5.00 | 7/2/2029 | 6000000 | 6457470 |
| New York State Dormitory Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 3/15/2029 | 1000000 | 1088884 |

---

**26**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **New York — 7.5% (continued)** | **New York — 7.5% (continued)** | **New York — 7.5% (continued)** | **New York — 7.5% (continued)** | **New York — 7.5% (continued)** |
| New York State Dormitory Authority, Revenue Bonds, Refunding, Ser. E | 5.00 | 3/15/2032 | 1010000 | 1071678 |
| New York State Housing Finance Agency, Revenue Bonds (Insured; State of <br> New York Mortgage Agency) Ser. B2<sup>(a)</sup> <br>| 3.60 | 5/1/2029 | 5000000 | 5054436 |
| New York State Housing Finance Agency, Revenue Bonds, (Insured; State of <br> New York Mortgage Agency) Ser. M2<br>| 0.75 | 11/1/2025 | 270000 | 268663 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds, BAN, Ser. B | 5.00 | 3/15/2027 | 5000000 | 5197725 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds, Refunding, Ser. B2<sup>(a)</sup> <br>| 5.00 | 5/15/2026 | 3500000 | 3556204 |
|  |  |  |  | **38456573** |
| **North Dakota — .5%** | **North Dakota — .5%** | **North Dakota — .5%** | **North Dakota — .5%** | **North Dakota — .5%** |
| Cass County Joint Water Resource District, Revenue Bonds, Refunding, Ser. A | 3.45 | 4/1/2027 | 2500000 | **2503038** |
| **Ohio — 1.7%** | **Ohio — 1.7%** | **Ohio — 1.7%** | **Ohio — 1.7%** | **Ohio — 1.7%** |
| Franklin County Convention Facilities Authority, Revenue Bonds, Refunding | 5.00 | 12/1/2028 | 4050000 | 4369496 |
| Ohio, Revenue Bonds, Ser. A | 5.00 | 4/1/2028 | 1000000 | 1068388 |
| Ohio Housing Finance Agency, Revenue Bonds<sup>(a)</sup> <br>| 3.70 | 5/1/2028 | 1000000 | 1011831 |
| Ohio Housing Finance Agency, Revenue Bonds, (Insured; <br> GNMA/FNMA/FHLMC) Ser. B<br>| 3.25 | 3/1/2050 | 1100000 | 1098811 |
| Ohio Water Development Authority Water Pollution Control Loan Fund, <br> Revenue Bonds, Ser. C<sup>(b)</sup> <br>| 3.90 | 12/1/2054 | 1200000 | 1200000 |
|  |  |  |  | **8748526** |
| **Oklahoma — 1.9%** | **Oklahoma — 1.9%** | **Oklahoma — 1.9%** | **Oklahoma — 1.9%** | **Oklahoma — 1.9%** |
| Canadian County Educational Facilities Authority, Revenue Bonds (Mustang <br> Public Schools Project)<br>| 5.00 | 9/1/2027 | 300000 | 306831 |
| Oklahoma County Independent School District No. 89, GO, Ser. A | 4.00 | 7/1/2028 | 2000000 | 2087090 |
| Tulsa County Independent School District No. 4 Bixby, GO | 5.00 | 6/1/2027 | 5000000 | 5194539 |
| Tulsa County Industrial Authority, Revenue Bonds (Broken Arrow Public <br> Schools Project)<br>| 5.00 | 9/1/2028 | 350000 | 375006 |
| Tulsa County Industrial Authority, Revenue Bonds (Broken Arrow Public <br> Schools Project)<br>| 5.00 | 9/1/2029 | 350000 | 381915 |
| Tulsa County Industrial Authority, Revenue Bonds (Glenpool Public Schools <br> Project)<br>| 5.00 | 9/1/2026 | 300000 | 306539 |
| Tulsa County Industrial Authority, Revenue Bonds (Glenpool Public Schools <br> Project)<br>| 5.00 | 9/1/2027 | 305000 | 319759 |
| Tulsa County Industrial Authority, Revenue Bonds (Glenpool Public Schools <br> Project)<br>| 5.00 | 9/1/2028 | 700000 | 750013 |
|  |  |  |  | **9721692** |
| **Oregon — 1.4%** | **Oregon — 1.4%** | **Oregon — 1.4%** | **Oregon — 1.4%** | **Oregon — 1.4%** |
| Lincoln County School District, GO (Insured; School Board Guaranty)<sup>(e)</sup> <br>| 5.00 | 6/15/2027 | 635000 | 635872 |
| Lincoln County School District, GO (Insured; School Board Guaranty)<sup>(e)</sup> <br>| 5.00 | 6/15/2028 | 925000 | 945534 |
| Lincoln County School District, GO (Insured; School Board Guaranty)<sup>(e)</sup> <br>| 5.00 | 6/15/2029 | 1220000 | 1271367 |
| Oregon Coast Community College District, GO (Insured; School Board <br> Guaranty)<br>| 5.00 | 6/15/2026 | 115000 | 117001 |
| Oregon Coast Community College District, GO (Insured; School Board <br> Guaranty)<br>| 5.00 | 6/15/2027 | 125000 | 129730 |
| Oregon Coast Community College District, GO (Insured; School Board <br> Guaranty)<br>| 5.00 | 6/15/2028 | 200000 | 213992 |
| Oregon Housing & Community Services Department, Revenue Bonds, Ser. D | 4.75 | 1/1/2050 | 1000000 | 1012260 |
| Oregon State Business Development Commission, Revenue Bonds (Intel Corp. <br> Project) Ser. 232<sup>(a)</sup> <br>| 3.80 | 6/15/2028 | 3000000 | 3045101 |
|  |  |  |  | **7370857** |

---

**27**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Pennsylvania — 4.2%** | **Pennsylvania — 4.2%** | **Pennsylvania — 4.2%** | **Pennsylvania — 4.2%** | **Pennsylvania — 4.2%** |
| Allegheny County Higher Education Building Authority, Revenue Bonds, <br> Refunding, Ser. 20<br>| 5.00 | 3/1/2026 | 1660000 | 1679469 |
| Cumberland County Municipal Authority, Revenue Bonds | 5.00 | 11/1/2028 | 1080000 | 1152400 |
| Pennsylvania Economic Development Financing Authority, Revenue Bonds <br> (Waste Management, Inc. Project) Ser. A<sup>(a)</sup> <br>| 4.00 | 7/1/2026 | 3250000 | 3246808 |
| Pennsylvania Economic Development Financing Authority, Revenue Bonds, <br> Refunding (UPMC Obligated Group) Ser. A<sup>(a)</sup> <br>| 5.00 | 3/15/2030 | 3000000 | 3205257 |
| Pennsylvania Housing Finance Agency, Revenue Bonds, Ser. 149A | 5.00 | 4/1/2029 | 500000 | 537262 |
| Pennsylvania Housing Finance Agency, Revenue Bonds, Ser. 149A | 5.00 | 10/1/2029 | 250000 | 270014 |
| Pennsylvania Housing Finance Agency, Revenue Bonds, Ser. 149A | 5.25 | 4/1/2030 | 300000 | 328845 |
| Pennsylvania Housing Finance Agency, Revenue Bonds, Ser. 149A | 5.25 | 10/1/2030 | 200000 | 219811 |
| Philadelphia Housing Authority, Revenue Bonds (PHADC Acquisition <br> Program) Ser. A<br>| 5.00 | 3/1/2027 | 2430000 | 2511661 |
| Philadelphia Housing Authority, Revenue Bonds (PHADC Acquisition <br> Program) Ser. A<br>| 5.00 | 3/1/2028 | 2730000 | 2879596 |
| Philadelphia Housing Authority, Revenue Bonds (PHADC Acquisition <br> Program) Ser. A<br>| 5.00 | 3/1/2029 | 5200000 | 5580000 |
|  |  |  |  | **21611123** |
| **Rhode Island — 2.5%** | **Rhode Island — 2.5%** | **Rhode Island — 2.5%** | **Rhode Island — 2.5%** | **Rhode Island — 2.5%** |
| Rhode Island Health & Educational Building Corp., Revenue Bonds, Ser. E | 5.00 | 5/15/2027 | 600000 | 626216 |
| Rhode Island Health & Educational Building Corp., Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.)<br>| 5.00 | 5/15/2027 | 9915000 | 9931531 |
| Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds | 3.00 | 10/1/2050 | 1015000 | 1007218 |
| Rhode Island Housing & Mortgage Finance Corp., Revenue Bonds | 3.50 | 10/1/2050 | 1200000 | 1204007 |
|  |  |  |  | **12768972** |
| **South Carolina — .6%** | **South Carolina — .6%** | **South Carolina — .6%** | **South Carolina — .6%** | **South Carolina — .6%** |
| South Carolina Housing Finance & Development Authority, Revenue Bonds, <br> Ser. B<br>| 3.25 | 1/1/2052 | 1590000 | 1588392 |
| South Carolina Housing Finance & Development Authority, Revenue Bonds, <br> Ser. B<br>| 5.00 | 1/1/2028 | 355000 | 374513 |
| South Carolina Public Service Authority, Revenue Bonds, Refunding, Ser. B | 5.00 | 12/1/2028 | 1000000 | 1079538 |
|  |  |  |  | **3042443** |
| **South Dakota — .4%** | **South Dakota — .4%** | **South Dakota — .4%** | **South Dakota — .4%** | **South Dakota — .4%** |
| South Dakota Conservancy District, Revenue Bonds, Refunding, Ser. B | 5.00 | 8/1/2031 | 1980000 | **2067625** |
| **Tennessee — 3.1%** | **Tennessee — 3.1%** | **Tennessee — 3.1%** | **Tennessee — 3.1%** | **Tennessee — 3.1%** |
| Clarksville Public Building Authority, Revenue Bonds (LOC; Bank of America <br> NA)<sup>(b)</sup> <br>| 3.98 | 1/1/2033 | 500000 | 500000 |
| Clarksville Public Building Authority, Revenue Bonds (LOC; Bank of America <br> NA)<sup>(b)</sup> <br>| 3.98 | 2/1/2038 | 2900000 | 2900000 |
| Clarksville Public Building Authority, Revenue Bonds (LOC; Bank of America <br> NA) Ser. PO<sup>(b)</sup> <br>| 3.98 | 11/1/2035 | 4800000 | 4800000 |
| Montgomery County Public Building Authority, Revenue Bonds (LOC; Bank of <br> America NA)<sup>(b)</sup> <br>| 3.95 | 7/1/2034 | 3700000 | 3700000 |
| Tennergy Corp., Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 4.00 | 9/1/2028 | 3920000 | 3981287 |
|  |  |  |  | **15881287** |
| **Texas — 13.9%** | **Texas — 13.9%** | **Texas — 13.9%** | **Texas — 13.9%** | **Texas — 13.9%** |
| Alamo Heights Independent School District, GO, (Insured; Permanent School <br> Fund Guarantee Program) Ser. B<sup>(a)</sup> <br>| 3.00 | 2/1/2026 | 3220000 | 3220650 |
| Arlington Higher Education Finance Corp., Revenue Bonds, Refunding <br> (Insured; Permanent School Fund Guarantee Program) Ser. C<br>| 5.00 | 12/1/2028 | 820000 | 879115 |
| Boerne Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<sup>(a)</sup> <br>| 4.00 | 2/1/2028 | 4000000 | 4119258 |

---

**28**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Texas — 13.9% (continued)** | **Texas — 13.9% (continued)** | **Texas — 13.9% (continued)** | **Texas — 13.9% (continued)** | **Texas — 13.9% (continued)** |
| Central Texas Turnpike System, Revenue Bonds, Refunding, Ser. B<sup>(a)</sup> <br>| 5.00 | 8/15/2030 | 1625000 | 1752181 |
| Clifton Higher Education Finance Corp., Revenue Bonds, Refunding (Idea <br> Public Schools)(Insured; Permanent School Fund Guarantee Program)<br>| 5.00 | 8/15/2030 | 1500000 | 1653429 |
| Dallas Fort Worth International Airport, Revenue Bonds, Refunding, Ser. B | 5.00 | 11/1/2026 | 1250000 | 1287614 |
| Dallas Fort Worth International Airport, Revenue Bonds, Refunding, Ser. B | 5.00 | 11/1/2027 | 1250000 | 1319926 |
| Dallas Fort Worth International Airport, Revenue Bonds, Refunding, Ser. C | 5.00 | 11/1/2026 | 2085000 | 2138519 |
| Dallas Housing Finance Corp., Revenue Bonds (Rosemont at Ash Creek <br> Apartment) (Insured; Federal Housing Administration)<sup>(a)</sup> <br>| 5.00 | 12/1/2025 | 1750000 | 1758908 |
| Dallas Waterworks & System, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2029 | 2500000 | 2561672 |
| Denton County, GO, Refunding | 4.00 | 7/15/2032 | 3700000 | 3701161 |
| Eagle Mountain & Saginaw Independent School District, GO (Insured; <br> Permanent School Fund Guarantee Program)<sup>(a)</sup> <br>| 4.00 | 8/1/2027 | 1125000 | 1152194 |
| Fort Bend Independent School District, GO, Refunding (Insured; Permanent <br> School Fund Guarantee Program) Ser. B<sup>(a)</sup> <br>| 0.72 | 8/1/2026 | 1605000 | 1564817 |
| Grand Parkway Transportation Corp., Revenue Bonds, Ser. A | 5.00 | 10/1/2030 | 2025000 | 2141900 |
| Harris County Cultural Education Facilities Finance Corp., Revenue Bonds, <br> Refunding (Memorial Hermann Health System Obligated Group) Ser. C<sup>(a)</sup> <br>| 5.00 | 7/1/2029 | 1250000 | 1340145 |
| Housing Options, Inc., Revenue Bonds (Royal Crest Apartments)(Insured; HUD <br> SECT 8)<sup>(a)</sup> <br>| 3.05 | 2/1/2028 | 2000000 | 2008321 |
| Houston Housing Finance Corp., Revenue Bonds (Summerdale Apartments)<sup>(a)</sup> <br>| 5.00 | 8/1/2026 | 2500000 | 2528726 |
| Lower Colorado River Authority, Revenue Bonds, Refunding, Ser. B<sup>(a)</sup> <br>| 5.00 | 5/15/2028 | 590000 | 619716 |
| Lower Neches Valley Authority Industrial Development Corp., Revenue <br> Bonds<sup>(b)</sup> <br>| 3.95 | 11/1/2051 | 1700000 | 1700000 |
| McLennan County Junior College District, GO, Refunding | 4.00 | 8/15/2028 | 2500000 | 2603909 |
| North Texas Tollway Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2030 | 1775000 | 1789190 |
| Northside Independent School District, GO, Refunding (Insured; Permanent <br> School Fund Guarantee Program) Ser. B<sup>(a)</sup> <br>| 3.45 | 8/1/2027 | 3945000 | 3983235 |
| Rankin Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 5.00 | 2/15/2028 | 2555000 | 2581801 |
| San Antonio Municipal Facilities Corp., Revenue Bonds<sup>(a)</sup> <br>| 5.00 | 8/1/2027 | 2800000 | 2915830 |
| San Antonio Texas Electric & Gas Systems, Revenue Bonds, Refunding<sup>(a)</sup> <br>| 1.75 | 12/1/2025 | 2500000 | 2490042 |
| San Antonio Water System, Revenue Bonds<sup>(a)</sup> <br>| 1.00 | 11/1/2026 | 1275000 | 1241477 |
| Tarrant County Cultural Education Facilities Finance Corp., Revenue Bonds, <br> Refunding, Ser. B<sup>(a)</sup> <br>| 5.00 | 11/15/2029 | 7500000 | 8127200 |
| Texas A&M University, Revenue Bonds, Refunding, Ser. E | 5.00 | 5/15/2028 | 1710000 | 1779265 |
| Texas Independent School District, GO, Refunding (Insured; Permanent School <br> Fund Guarantee Program)<br>| 4.00 | 8/15/2027 | 1970000 | 2025849 |
| Thorndale Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 5.00 | 8/15/2028 | 615000 | 658496 |
| University of North Texas System, Revenue Bonds, Refunding, Ser. A | 5.00 | 4/15/2029 | 1250000 | 1361533 |
| Wink-Loving Independent School District, GO (Insured; Permanent School <br> Fund Guarantee Program)<br>| 5.00 | 2/15/2030 | 1000000 | 1052976 |
| Wink-Loving Independent School District, GO (Insured; Permanent School <br> Fund Guarantee Program)<br>| 5.00 | 2/15/2031 | 1000000 | 1049164 |
|  |  |  |  | **71108219** |
| **U.S. Related — .7%** | **U.S. Related — .7%** | **U.S. Related — .7%** | **U.S. Related — .7%** | **U.S. Related — .7%** |
| Guam, Revenue Bonds, Refunding, Ser. G | 5.00 | 1/1/2028 | 1250000 | 1305703 |
| Guam, Revenue Bonds, Refunding, Ser. G | 5.00 | 1/1/2029 | 1255000 | 1331011 |
| Puerto Rico, Notes<sup>(b)</sup> <br>| 2.96 | 11/1/2051 | 1552747 | 1009286 |
|  |  |  |  | **3646000** |

---

**29**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** | **Long-Term Municipal Investments — 99.4% (continued)** |
| **Utah — .2%** | **Utah — .2%** | **Utah — .2%** | **Utah — .2%** | **Utah — .2%** |
| Utah Charter School Finance Authority, Revenue Bonds (American Leadership <br> Academy Project)<br>| 5.00 | 10/15/2026 | 375000 | 383088 |
| Utah Charter School Finance Authority, Revenue Bonds (American Leadership <br> Academy Project)<br>| 5.00 | 10/15/2028 | 415000 | 441972 |
|  |  |  |  | **825060** |
| **Virginia — 1.7%** | **Virginia — 1.7%** | **Virginia — 1.7%** | **Virginia — 1.7%** | **Virginia — 1.7%** |
| Harrisonburg Redevelopment & Housing Authority, Revenue Bonds<sup>(a)</sup> <br>| 3.57 | 10/1/2027 | 2250000 | 2273507 |
| Louisa Industrial Development Authority, Revenue Bonds (Virginia Electric & <br> Power Co.) Ser. C<sup>(a)</sup> <br>| 3.80 | 5/28/2027 | 1125000 | 1144252 |
| Virginia Commonwealth Transportation Board, Revenue Bonds, Refunding, <br> Ser. A<br>| 5.00 | 5/15/2031 | 5000000 | 5240081 |
|  |  |  |  | **8657840** |
| **Washington — 1.5%** | **Washington — 1.5%** | **Washington — 1.5%** | **Washington — 1.5%** | **Washington — 1.5%** |
| King County Housing Authority, Revenue Bonds, Refunding | 3.00 | 10/1/2025 | 150000 | 150020 |
| King County Housing Authority, Revenue Bonds, Refunding | 4.00 | 10/1/2026 | 150000 | 151956 |
| King County Housing Authority, Revenue Bonds, Refunding | 5.00 | 1/1/2027 | 200000 | 205217 |
| King County Housing Authority, Revenue Bonds, Refunding | 5.00 | 1/1/2028 | 300000 | 312474 |
| Port of Seattle, Revenue Bonds | 5.00 | 5/1/2026 | 5000000 | 5072075 |
| Snohomish County School District No. 103 Monroe, GO, Refunding (Insured; <br> School Board Guaranty)<br>| 5.00 | 12/1/2028 | 600000 | 650853 |
| Snohomish County School District No. 103 Monroe, GO, Refunding (Insured; <br> School Board Guaranty)<br>| 5.00 | 12/1/2029 | 1000000 | 1104110 |
| Washington Health Care Facilities Authority, Revenue Bonds, Refunding (Fred <br> Hutchinson Cancer Center)<sup>(f)</sup> <br>| 5.00 | 12/1/2025 | 275000 | 276620 |
|  |  |  |  | **7923325** |
| **West Virginia — .6%** | **West Virginia — .6%** | **West Virginia — .6%** | **West Virginia — .6%** | **West Virginia — .6%** |
| West Virginia Economic Development Authority, Revenue Bonds, Ser. B<sup>(a)</sup> <br>| 3.70 | 6/1/2028 | 2000000 | 2035266 |
| West Virginia Higher Education Policy Commission, Revenue Bonds, <br> Refunding (Community & Technical Colleges Capital Improvement)<br>| 5.00 | 7/1/2030 | 1000000 | 1038872 |
|  |  |  |  | **3074138** |
| **Wisconsin — .8%** | **Wisconsin — .8%** | **Wisconsin — .8%** | **Wisconsin — .8%** | **Wisconsin — .8%** |
| Public Finance Authority, Revenue Bonds, Refunding (Kahala Nui Project) | 5.00 | 11/15/2026 | 275000 | 281177 |
| Public Finance Authority, Revenue Bonds, Refunding (Kahala Nui Project) | 5.00 | 11/15/2027 | 290000 | 302239 |
| Public Finance Authority, Revenue Bonds, Refunding (Kahala Nui Project) | 5.00 | 11/15/2028 | 375000 | 397765 |
| Public Finance Authority, Revenue Bonds, Refunding (Kahala Nui Project) | 5.00 | 11/15/2029 | 300000 | 322787 |
| Wisconsin Health & Educational Facilities Authority, Revenue Bonds, <br> Refunding (Advocate Aurora Health Obligated Group)<sup>(a)</sup> <br>| 5.00 | 6/24/2026 | 1500000 | 1527693 |
| Wisconsin Health & Educational Facilities Authority, Revenue Bonds, <br> Refunding (Advocate Aurora Health Obligated Group) Ser. B2<sup>(a)</sup> <br>| 5.00 | 6/24/2026 | 1000000 | 1018462 |
|  |  |  |  | **3850123** |
| **Total Long-Term Municipal Investments** <br>(cost $504,093,014)<br>|  |  |  | **508098104** |
| **Short-Term Municipal Investments — .7%** | **Short-Term Municipal Investments — .7%** | **Short-Term Municipal Investments — .7%** | **Short-Term Municipal Investments — .7%** | **Short-Term Municipal Investments — .7%** |
| **South Carolina — .7%** |  |  |  |  |
| Saxe Gotha-Lexington Public Facilities Corp., Revenue Notes, Refunding | 4.75 | 3/12/2026 | 3300000 | **3326546** |

---

**30**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** | **BNY Mellon National Short-Term Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Short-Term Municipal Investments — .7% (continued)** | **Short-Term Municipal Investments — .7% (continued)** | **Short-Term Municipal Investments — .7% (continued)** | **Short-Term Municipal Investments — .7% (continued)** | **Short-Term Municipal Investments — .7% (continued)** |
| **Washington — .0%** |  |  |  |  |
| King County Housing Authority, Revenue Bonds, Refunding | 5.00 | 7/1/2026 | 200000 | **203072** |
| **Total Short-Term Municipal Investments** <br>(cost $3,517,839)<br>|  |  |  | **3529618** |
| **Total Investments** (cost $507,610,853) | **Total Investments** (cost $507,610,853) |  | **100.1%** | **511627722** |
| **Liabilities, Less Cash and Receivables** | **Liabilities, Less Cash and Receivables** |  | **(.1%)** | **(302929)** |
| **Net Assets**  | **Net Assets**  | **Net Assets**  | **100.0%** | **511324793** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| BAN—Bond Anticipation Notes |
| COP—Certificate of Participation |
| FHLMC—Federal Home Loan Mortgage Corporation |
| FNMA—Federal National Mortgage Association |
| GNMA—Government National Mortgage Association |
| GO—Government Obligation |
| LOC—Letter of Credit |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> These securities have a put feature; the date shown represents the put date and the bond holder can take a specific action to retain the bond after the put date.

<sup>(b)</sup> The Variable Rate is determined by the Remarketing Agent in its sole discretion based on prevailing market conditions and may, but need not, be established by reference to one or more financial indices. 

<sup>(c)</sup> Security purchased on a when-issued or delayed basis for which the fund has not taken delivery as of August 31, 2025.

<sup>(d)</sup> These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire the bonds in full at the earliest refunding date. 

<sup>(e)</sup> Zero coupon until a specified date at which time the stated coupon rate becomes effective until maturity.

<sup>(f)</sup> 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 August 31, 2025, these securities amounted to $276,620 or 0.1% of net assets. 

See notes to financial statements.

**31**

------

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Massachusetts Intermediate Municipal Bond Fund** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund** |
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.1%** | **Long-Term Municipal Investments — 99.1%** | **Long-Term Municipal Investments — 99.1%** | **Long-Term Municipal Investments — 99.1%** | **Long-Term Municipal Investments — 99.1%** |
| **Alabama — 2.2%** | **Alabama — 2.2%** | **Alabama — 2.2%** | **Alabama — 2.2%** | **Alabama — 2.2%** |
| Southeast Energy Authority A Cooperative District, Revenue Bonds, Ser. B<sup>(a)</sup> <br>| 5.25 | 6/1/2032 | 2500000 | **2685425** |
| **Georgia — 2.2%** | **Georgia — 2.2%** | **Georgia — 2.2%** | **Georgia — 2.2%** | **Georgia — 2.2%** |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. C<sup>(a)</sup> <br>| 5.00 | 12/1/2031 | 2500000 | **2657632** |
| **Illinois — 1.7%** | **Illinois — 1.7%** | **Illinois — 1.7%** | **Illinois — 1.7%** | **Illinois — 1.7%** |
| Chicago Park District, GO, Refunding, Ser. C | 4.00 | 1/1/2036 | 2100000 | **2050665** |
| **Massachusetts — 84.5%** | **Massachusetts — 84.5%** | **Massachusetts — 84.5%** | **Massachusetts — 84.5%** | **Massachusetts — 84.5%** |
| Berkshire Wind Power Cooperative Corp., Revenue Bonds, Refunding <br> (Sustainable Bond) (Berkshire Wind Project) Ser. 2<br>| 5.00 | 7/1/2028 | 1000000 | 1044269 |
| Boston, GO, Ser. A | 3.00 | 11/1/2034 | 1535000 | 1465061 |
| Boston, GO, Ser. A | 5.00 | 11/1/2042 | 1000000 | 1058304 |
| Gloucester, GO, Refunding | 3.00 | 9/15/2033 | 725000 | 700801 |
| Groton, GO | 3.00 | 8/15/2033 | 390000 | 380059 |
| Hingham, GO | 3.00 | 2/15/2034 | 1240000 | 1198601 |
| Lowell Collegiate Charter School, Revenue Bonds | 5.00 | 6/15/2029 | 400000 | 403417 |
| Lowell Collegiate Charter School, Revenue Bonds | 5.00 | 6/15/2039 | 1330000 | 1305339 |
| Massachusetts, GO, Ser. A | 3.00 | 2/1/2037 | 2000000 | 1835249 |
| Massachusetts, GO, Ser. A | 5.00 | 5/1/2041 | 500000 | 525821 |
| Massachusetts, GO, Ser. C | 5.00 | 10/1/2052 | 1500000 | 1511697 |
| Massachusetts, GO, Refunding, Ser. B | 5.00 | 5/1/2037 | 1000000 | 1092179 |
| Massachusetts, GO, Refunding, Ser. D | 4.00 | 11/1/2035 | 2500000 | 2536269 |
| Massachusetts Bay Transportation Authority, Revenue Bonds (Sustainable <br> Bond) Ser. A<br>| 5.00 | 7/1/2038 | 600000 | 648379 |
| Massachusetts Bay Transportation Authority, Revenue Bonds, Refunding, Ser. <br> A<br>| 5.00 | 7/1/2037 | 1000000 | 1104577 |
| Massachusetts Clean Water Trust, Revenue Bonds, Ser. 25B | 5.00 | 2/1/2041 | 1000000 | 1054132 |
| Massachusetts College Building Authority, Revenue Bonds (Sustainable Bond) <br> Ser. A<br>| 3.00 | 5/1/2033 | 535000 | 515138 |
| Massachusetts Development Finance Agency, Revenue Bonds (Beth Israel <br> Lahey Health Obligated Group) Ser. M<br>| 5.00 | 7/1/2034 | 2000000 | 2222572 |
| Massachusetts Development Finance Agency, Revenue Bonds (Dana-Farber <br> Cancer Institute Obligated Group) Ser. N<br>| 5.00 | 12/1/2033 | 2500000 | 2548160 |
| Massachusetts Development Finance Agency, Revenue Bonds (Emerson <br> College)<br>| 5.00 | 1/1/2027 | 280000 | 287488 |
| Massachusetts Development Finance Agency, Revenue Bonds (Emerson <br> College)<br>| 5.00 | 1/1/2031 | 325000 | 335282 |
| Massachusetts Development Finance Agency, Revenue Bonds (Emerson <br> College)<br>| 5.00 | 1/1/2032 | 340000 | 349465 |
| Massachusetts Development Finance Agency, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 5.00 | 11/1/2035 | 1180000 | 1345025 |
| Massachusetts Development Finance Agency, Revenue Bonds, Ser. A1<sup>(a)</sup> <br>| 5.00 | 1/31/2030 | 1000000 | 1089077 |
| Massachusetts Development Finance Agency, Revenue Bonds, Ser. T | 5.00 | 3/1/2034 | 2125000 | 2391045 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding | 5.00 | 10/1/2035 | 1000000 | 1012701 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding | 5.00 | 7/1/2037 | 1600000 | 1601663 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Bentley University) Ser. A<br>| 4.00 | 7/1/2035 | 1000000 | 1005615 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Bentley University) Ser. A<br>| 4.00 | 7/1/2036 | 825000 | 822515 |

---

**32**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** |
| **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Boston University) Ser. B1<br>| 5.00 | 10/1/2040 | 1700000 | 1832977 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Caregroup) Ser. I<br>| 5.00 | 7/1/2029 | 2000000 | 2031687 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Children's Hospital) (LOC; TD Bank NA) Ser. U1<sup>(b)</sup> <br>| 3.65 | 3/1/2048 | 100000 | 100000 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Children's Hospital) (LOC; TD Bank NA) Ser. U2<sup>(b)</sup> <br>| 3.65 | 3/1/2048 | 1900000 | 1900000 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Emerson College) Ser. A<br>| 5.00 | 1/1/2033 | 1250000 | 1280714 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Emmanuel College) Ser. A<br>| 5.00 | 10/1/2030 | 1000000 | 999263 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Emmanuel College) Ser. A<br>| 5.00 | 10/1/2036 | 500000 | 494690 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Emmanuel College) Ser. A<br>| 5.00 | 10/1/2043 | 1000000 | 909206 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Fisher College)<br>| 5.00 | 4/1/2031 | 350000 | 356232 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Fisher College)<br>| 5.00 | 4/1/2032 | 370000 | 375515 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Fisher College)<br>| 5.00 | 4/1/2033 | 390000 | 394699 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (MCPHS University) Ser. H<br>| 5.00 | 7/1/2037 | 465000 | 465348 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Olin <br> College) Ser. F<br>| 5.00 | 11/1/2037 | 725000 | 781213 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Olin <br> College) Ser. F<br>| 5.00 | 11/1/2038 | 755000 | 803872 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Partners Healthcare System)<br>| 4.00 | 7/1/2036 | 2480000 | 2476498 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Partners Healthcare System)<br>| 5.00 | 7/1/2037 | 705000 | 721430 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (SABIS International Charter School)<br>| 5.00 | 4/15/2033 | 1500000 | 1500218 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (SABIS International Charter School)<br>| 5.00 | 4/15/2040 | 1730000 | 1639063 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Simmons College) Ser. K1<br>| 5.00 | 10/1/2025 | 700000 | 700585 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Simmons College) Ser. K1<br>| 5.00 | 10/1/2029 | 1000000 | 1000338 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (South Shore Hospital Obligated Group) Ser. I<br>| 5.00 | 7/1/2028 | 750000 | 759041 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (UMass Memorial Health Care Obligated Group)<br>| 5.00 | 7/1/2036 | 1340000 | 1349686 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (UMass Memorial Health Care Obligated Group) Ser. N1<br>| 5.00 | 7/1/2032 | 940000 | 1036303 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Western New England University)<br>| 5.00 | 9/1/2032 | 500000 | 510378 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Western New England University)<br>| 5.00 | 9/1/2033 | 500000 | 508005 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Western New England University)<br>| 5.00 | 9/1/2035 | 1000000 | 1000270 |

---

**33**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** |
| **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Western New England University)<br>| 5.00 | 9/1/2040 | 1500000 | 1458632 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (WGBH Educational Foundation)<br>| 5.00 | 1/1/2031 | 415000 | 421361 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Woods Hole Oceanographic Institution)<br>| 5.00 | 6/1/2043 | 1000000 | 1004659 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. <br> A1<sup>(a)</sup> <br>| 5.00 | 5/13/2032 | 1000000 | 1129412 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. <br> B<br>| 4.00 | 2/15/2036 | 2800000 | 2921043 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. <br> G<br>| 5.00 | 7/1/2032 | 515000 | 560184 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. <br> G<br>| 5.00 | 7/1/2035 | 400000 | 425150 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. <br> G<br>| 5.00 | 7/1/2036 | 450000 | 474635 |
| Massachusetts Development Finance Agency, Revenue Bonds (Sustainable <br> Bond) (Equitable School Revolving Fund Obligated Group) Ser. C<br>| 4.00 | 11/1/2046 | 500000 | 419227 |
| Massachusetts Educational Financing Authority, Revenue Bonds, Refunding, <br> Ser. B<br>| 5.00 | 7/1/2030 | 2230000 | 2391793 |
| Massachusetts Health & Educational Facilities Authority, Revenue Bonds, <br> Refunding (Amherst College) Ser. J1<br>| 5.00 | 11/1/2035 | 1350000 | 1569804 |
| Massachusetts Housing Finance Agency, Revenue Bonds (Sustainable Bond) <br> (Insured; Federal Housing Administration) Ser. A1<br>| 2.55 | 12/1/2040 | 1500000 | 1107668 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Ser. B3 | 3.50 | 6/1/2029 | 2395000 | 2419751 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Ser. F | 2.95 | 12/1/2032 | 1000000 | 920529 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Refunding (Insured; <br> GNMA, FNMA, FHLMC) Ser. 195<br>| 4.00 | 12/1/2048 | 420000 | 422359 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Refunding <br> (Sustainable Bond) Ser. 221<br>| 3.00 | 12/1/2050 | 1085000 | 1077789 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Refunding, Ser. 183 | 3.50 | 12/1/2046 | 105000 | 104984 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Refunding, Ser. 207 | 4.00 | 6/1/2049 | 1125000 | 1134975 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Refunding, Ser. 211 | 3.50 | 12/1/2049 | 425000 | 425658 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Refunding <br> (Sustainable Bond) (Insured; GNMA, FNMA, FHLMC) Ser. 220<br>| 3.00 | 12/1/2050 | 1320000 | 1311862 |
| Massachusetts Municipal Wholesale Electric Co., Revenue Bonds (Sustainable <br> Bond) Ser. A<br>| 5.00 | 7/1/2039 | 250000 | 266164 |
| Massachusetts Municipal Wholesale Electric Co., Revenue Bonds (Sustainable <br> Bond) Ser. A<br>| 5.00 | 7/1/2041 | 300000 | 314044 |
| Massachusetts Port Authority, Revenue Bonds (Sustainable Bond) Ser. A | 5.00 | 7/1/2034 | 1500000 | 1619900 |
| Massachusetts Port Authority, Revenue Bonds, Refunding (Bosfuel Project) <br> Ser. A<br>| 5.00 | 7/1/2029 | 1000000 | 1076958 |
| Massachusetts Port Authority, Revenue Bonds, Refunding (Bosfuel Project) <br> Ser. A<br>| 5.00 | 7/1/2032 | 865000 | 913287 |
| Massachusetts Port Authority, Revenue Bonds, Refunding (Bosfuel Project) <br> Ser. A<br>| 5.00 | 7/1/2035 | 500000 | 519963 |
| Massachusetts Port Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2027 | 2000000 | 2079047 |
| Massachusetts Port Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2028 | 2000000 | 2121742 |
| Massachusetts Port Authority, Revenue Bonds, Refunding, Ser. C | 5.00 | 7/1/2030 | 1635000 | 1744537 |
| Massachusetts Transportation Fund, Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2042 | 750000 | 769522 |
| Medway, GO | 3.00 | 9/1/2032 | 700000 | 694538 |
| Middleborough, GO, Refunding | 3.00 | 10/1/2034 | 1455000 | 1380836 |

---

**34**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** | **BNY Mellon Massachusetts Intermediate Municipal Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** | **Long-Term Municipal Investments — 99.1% (continued)** |
| **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** | **Massachusetts — 84.5% (continued)** |
| Mount Greylock Regional School District, GO, Refunding | 4.00 | 6/15/2030 | 315000 | 315105 |
| Rockland, GO, Refunding | 3.00 | 10/1/2032 | 1000000 | 983824 |
| Sharon, GO | 3.00 | 2/15/2033 | 1750000 | 1700432 |
| Somerville, GO, Refunding | 3.00 | 6/1/2035 | 1125000 | 1060664 |
| Waltham, GO | 3.00 | 10/15/2032 | 1160000 | 1147247 |
| Winchester, GO, Refunding | 4.00 | 3/15/2038 | 1065000 | 1070660 |
| Worcester, GO, Refunding (Insured; Assured Guaranty Corp.) | 2.00 | 2/15/2033 | 2000000 | 1791222 |
|  |  |  |  | **102588298** |
| **Nebraska — 2.6%** | **Nebraska — 2.6%** | **Nebraska — 2.6%** | **Nebraska — 2.6%** | **Nebraska — 2.6%** |
| Central Plains Energy, Revenue Bonds, Refunding (Project No. 4) Ser. A<sup>(a)</sup> <br>| 5.00 | 11/1/2029 | 3000000 | **3176703** |
| **New York — 2.0%** | **New York — 2.0%** | **New York — 2.0%** | **New York — 2.0%** | **New York — 2.0%** |
| New York Liberty Development Corp., Revenue Bonds, Refunding (Bank of <br> America Tower)<br>| 2.63 | 9/15/2069 | 2675000 | **2465637** |
| **U.S. Related — 3.9%** | **U.S. Related — 3.9%** | **U.S. Related — 3.9%** | **U.S. Related — 3.9%** | **U.S. Related — 3.9%** |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2031 | 100000 | 108068 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2034 | 100000 | 108073 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2038 | 125000 | 131237 |
| Guam, Revenue Bonds, Refunding, Ser. G | 5.00 | 1/1/2031 | 1000000 | 1080353 |
| Guam Government Waterworks Authority, Revenue Bonds, Ser. A | 5.00 | 7/1/2038 | 1020000 | 1063597 |
| Guam Government Waterworks Authority, Revenue Bonds, Ser. A | 5.25 | 7/1/2039 | 1000000 | 1053750 |
| Puerto Rico, Notes<sup>(b)</sup> <br>| 2.28 | 11/1/2051 | 416675 | 230734 |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control <br> Facilities Financing Authority, Revenue Bonds, Refunding (Hospital Auxilio <br> Mutuo Obligated Group)<br>| 5.00 | 7/1/2027 | 310000 | 319280 |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control <br> Facilities Financing Authority, Revenue Bonds, Refunding (Hospital Auxilio <br> Mutuo Obligated Group)<br>| 5.00 | 7/1/2028 | 260000 | 272280 |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control <br> Facilities Financing Authority, Revenue Bonds, Refunding (Hospital Auxilio <br> Mutuo Obligated Group)<br>| 5.00 | 7/1/2029 | 285000 | 302358 |
|  |  |  |  | **4669730** |
| **Total Investments** (cost $124,566,036) | **Total Investments** (cost $124,566,036) |  | **99.1%** | **120294090** |
| **Cash and Receivables (Net)** | **Cash and Receivables (Net)** |  | **.9%** | **1097111** |
| **Net Assets**  | **Net Assets**  | **Net Assets**  | **100.0%** | **121391201** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| FHLMC—Federal Home Loan Mortgage Corporation |
| FNMA—Federal National Mortgage Association |
| GNMA—Government National Mortgage Association |
| GO—Government Obligation |
| LOC—Letter of Credit |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> These securities have a put feature; the date shown represents the put date and the bond holder can take a specific action to retain the bond after the put date.

<sup>(b)</sup> The Variable Rate is determined by the Remarketing Agent in its sole discretion based on prevailing market conditions and may, but need not, be established by reference to one or more financial indices. 

See notes to financial statements.

**35**

------

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** |
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>| Value ($) |
| **Bonds and Notes — .2%** | **Bonds and Notes — .2%** | **Bonds and Notes — .2%** | **Bonds and Notes — .2%** | **Bonds and Notes — .2%** |
| **Industrial — .2%** | **Industrial — .2%** | **Industrial — .2%** | **Industrial — .2%** | **Industrial — .2%** |
| LBJ Infrastructure Group LLC, Sr. Scd. Bonds<sup>(a)</sup> <br>(cost $5,000,000)<br>| 3.80 | 12/31/2057 | 5000000 | **3390184** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Long-Term Municipal Investments — 101.1%** | **Long-Term Municipal Investments — 101.1%** | **Long-Term Municipal Investments — 101.1%** | **Long-Term Municipal Investments — 101.1%** | **Long-Term Municipal Investments — 101.1%** |
| **Alabama — 2.3%** | **Alabama — 2.3%** | **Alabama — 2.3%** | **Alabama — 2.3%** | **Alabama — 2.3%** |
| Auburn University, Revenue Bonds, Ser. A | 5.00 | 6/1/2048 | 5000000 | 5038074 |
| Black Belt Energy Gas District, Revenue Bonds (Project No. 6) Ser. B<sup>(b)</sup> <br>| 4.00 | 12/1/2026 | 10000000 | 10104267 |
| Black Belt Energy Gas District, Revenue Bonds, Ser. C<sup>(b)</sup> <br>| 5.00 | 7/1/2031 | 15000000 | 16046156 |
| Jefferson County, Revenue Bonds, Refunding | 5.25 | 10/1/2049 | 1000000 | 1003738 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds (Project No. 3) <br> Ser. A1<sup>(b)</sup> <br>| 5.50 | 12/1/2029 | 5000000 | 5359242 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds (Project No. 5) <br> Ser. A<sup>(b)</sup> <br>| 5.25 | 7/1/2029 | 5575000 | 5882628 |
|  |  |  |  | **43434105** |
| **Arizona — 3.0%** | **Arizona — 3.0%** | **Arizona — 3.0%** | **Arizona — 3.0%** | **Arizona — 3.0%** |
| Arizona Industrial Development Authority, Revenue Bonds (Academies of Math & <br> Science Projects)<sup>(a)</sup> <br>| 5.00 | 7/1/2049 | 1000000 | 880197 |
| Arizona Industrial Development Authority, Revenue Bonds (Academies of Math & <br> Science Projects) Ser. B<sup>(a)</sup> <br>| 5.50 | 7/1/2038 | 1240000 | 1243086 |
| Arizona Industrial Development Authority, Revenue Bonds (Academies of Math & <br> Science Projects) Ser. B<sup>(a)</sup> <br>| 5.63 | 7/1/2048 | 2000000 | 1911838 |
| Arizona Industrial Development Authority, Revenue Bonds (Academies of Math & <br> Science Projects) Ser. B<sup>(a)</sup> <br>| 5.75 | 7/1/2053 | 3260000 | 3117477 |
| Arizona Industrial Development Authority, Revenue Bonds (Doral Academy of <br> Nevada) Ser. A<br>| 5.00 | 7/15/2039 | 1325000 | 1272292 |
| Arizona Industrial Development Authority, Revenue Bonds (Doral Academy of <br> Nevada) Ser. A<br>| 5.00 | 7/15/2049 | 1675000 | 1450460 |
| Arizona Industrial Development Authority, Revenue Bonds (Equitable School <br> Revolving Fund Obligated Group) Ser. A<br>| 5.00 | 11/1/2049 | 2500000 | 2385183 |
| Arizona Industrial Development Authority, Revenue Bonds (Equitable School <br> Revolving Fund Obligated Group) Ser. A<br>| 5.00 | 11/1/2054 | 2750000 | 2585537 |
| Arizona Industrial Development Authority, Revenue Bonds (Great Lakes Senior <br> Living Communities LLC Project) Ser. A2<br>| 5.13 | 1/1/2059 | 1750000 | 1583611 |
| Arizona Industrial Development Authority, Revenue Bonds (JEROME Facility <br> Project) Ser. B<br>| 4.00 | 7/1/2041 | 720000 | 632926 |
| Arizona Industrial Development Authority, Revenue Bonds (JEROME Facility <br> Project) Ser. B<br>| 4.00 | 7/1/2051 | 1750000 | 1417763 |
| Arizona Industrial Development Authority, Revenue Bonds (JEROME Facility <br> Project) Ser. B<br>| 4.00 | 7/1/2061 | 3700000 | 2849277 |
| Arizona Industrial Development Authority, Revenue Bonds (Lone Mountain Campus <br> Project)<sup>(a)</sup> <br>| 5.00 | 12/15/2039 | 400000 | 386828 |
| Arizona Industrial Development Authority, Revenue Bonds (Lone Mountain Campus <br> Project)<sup>(a)</sup> <br>| 5.00 | 12/15/2049 | 700000 | 612094 |
| Arizona Industrial Development Authority, Revenue Bonds (MACOMBS Facility <br> Project) Ser. A<br>| 4.00 | 7/1/2041 | 1000000 | 879064 |
| Arizona Industrial Development Authority, Revenue Bonds (NCCU Properties) <br> (Insured; Build America Mutual) Ser. A<br>| 4.00 | 6/1/2044 | 2000000 | 1768991 |

---

**36**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Arizona — 3.0% (continued)** | **Arizona — 3.0% (continued)** | **Arizona — 3.0% (continued)** | **Arizona — 3.0% (continued)** | **Arizona — 3.0% (continued)** |
| Arizona Industrial Development Authority, Revenue Bonds (Phoenix Children's <br> Hospital Obligated Group)<br>| 3.00 | 2/1/2045 | 1600000 | 1153718 |
| Arizona Industrial Development Authority, Revenue Bonds (Somerset Academy of <br> Las Vegas)<sup>(a)</sup> <br>| 4.00 | 12/15/2041 | 500000 | 415025 |
| Arizona Industrial Development Authority, Revenue Bonds (Sustainable Bond) <br> (Equitable School Revolving Fund Obligated Group) Ser. A<br>| 4.00 | 11/1/2049 | 2000000 | 1615185 |
| Arizona Industrial Development Authority, Revenue Bonds, Ser. B | 5.13 | 1/1/2059 | 3185183 | 2440568 |
| Arizona Industrial Development Authority, Revenue Bonds (Sustainable Bond) <br> (Equitable School Revolving Fund Obligated Group) Ser. A<br>| 5.00 | 11/1/2044 | 1625000 | 1581637 |
| Maricopa County Industrial Development Authority, Revenue Bonds (Banner Health <br> Obligated Group)<br>| 3.00 | 1/1/2049 | 3000000 | 2092618 |
| Maricopa County Pollution Control Corp., Revenue Bonds, Refunding (Southern <br> California Edison)<br>| 2.40 | 6/1/2035 | 5000000 | 4082297 |
| Maricopa County Special Health Care District, GO, Ser. C | 5.00 | 7/1/2036 | 7500000 | 7729369 |
| Sierra Vista Industrial Development Authority, Revenue Bonds (American <br> Leadership Academy Project)<sup>(a)</sup> <br>| 5.00 | 6/15/2054 | 3700000 | 3192187 |
| Sierra Vista Industrial Development Authority, Revenue Bonds (American <br> Leadership Academy Project)<sup>(a)</sup> <br>| 5.00 | 6/15/2064 | 2250000 | 1883526 |
| Sierra Vista Industrial Development Authority, Revenue Bonds (American <br> Leadership Academy)<sup>(a)</sup> <br>| 5.00 | 6/15/2059 | 1500000 | 1274294 |
| Sierra Vista Industrial Development Authority, Revenue Bonds (Wake Preparatory <br> Academy)<br>| 6.50 | 6/15/2055 | 4000000 | 3953901 |
| Sierra Vista Industrial Development Authority, Revenue Bonds (Wake Preparatory <br> Academy)<br>| 6.50 | 6/15/2060 | 1000000 | 980967 |
|  |  |  |  | **57371916** |
| **Arkansas — 1.1%** | **Arkansas — 1.1%** | **Arkansas — 1.1%** | **Arkansas — 1.1%** | **Arkansas — 1.1%** |
| Arkansas Development Finance Authority, Revenue Bonds (Sustainable Bond) <br> (Hybar Steel Project) Ser. A<sup>(a)</sup> <br>| 6.88 | 7/1/2048 | 2500000 | 2647499 |
| Arkansas Development Finance Authority, Revenue Bonds (Sustainable Bond) <br> (U.S. Steel Corp.)<br>| 5.70 | 5/1/2053 | 7000000 | 7044750 |
| Arkansas Development Finance Authority, Revenue Bonds (Washington Regional <br> Medical Center)<br>| 5.00 | 2/1/2033 | 1080000 | 1124757 |
| Arkansas Development Finance Authority, Revenue Bonds (Washington Regional <br> Medical Center)<br>| 5.00 | 2/1/2035 | 1485000 | 1517219 |
| Arkansas Development Finance Authority, Revenue Bonds (Sustainable Bond) <br> (U.S. Steel Corp.)<br>| 5.45 | 9/1/2052 | 2500000 | 2428518 |
| Arkansas University, Revenue Bonds (Fayetteville Campus) Ser. A | 5.00 | 11/1/2049 | 2750000 | 2778013 |
| Arkansas University, Revenue Bonds (Fayetteville Campus) Ser. A | 5.00 | 11/1/2054 | 4200000 | 4218284 |
|  |  |  |  | **21759040** |
| **California — 15.7%** | **California — 15.7%** | **California — 15.7%** | **California — 15.7%** | **California — 15.7%** |
| California, GO | 5.00 | 9/1/2044 | 2000000 | 2100017 |
| California, GO, Refunding | 5.25 | 10/1/2045 | 4000000 | 4230347 |
| California, GO, Refunding | 5.25 | 9/1/2047 | 1000000 | 1044720 |
| California Community Choice Financing Authority, Revenue Bonds (Sustainable <br> Bond) Ser. B1<sup>(b)</sup> <br>| 4.00 | 8/1/2031 | 3000000 | 3014399 |
| California Community Choice Financing Authority, Revenue Bonds (Sustainable <br> Bond) (Clean Energy Project)<sup>(b)</sup> <br>| 5.25 | 10/1/2031 | 6000000 | 6311248 |
| California Community Choice Financing Authority, Revenue Bonds (Sustainable <br> Bond) (Clean Energy Project) Ser. C<sup>(b)</sup> <br>| 5.00 | 10/1/2032 | 10000000 | 10630064 |
| California Community Choice Financing Authority, Revenue Bonds (Sustainable <br> Bond) (Clean Energy Project) Ser. H<sup>(b)</sup> <br>| 5.00 | 8/1/2033 | 2500000 | 2719351 |

---

**37**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** |
| California Community College Financing Authority, Revenue Bonds (Orange Coast <br> Properties)<br>| 5.25 | 5/1/2043 | 1250000 | 1269196 |
| California Community College Financing Authority, Revenue Bonds (Orange Coast <br> Properties)<br>| 5.25 | 5/1/2048 | 2750000 | 2782120 |
| California Community Housing Agency, Revenue Bonds (Creekwood Apartments) <br> Ser. A<sup>(a)</sup> <br>| 4.00 | 2/1/2056 | 5000000 | 3169784 |
| California Community Housing Agency, Revenue Bonds (Fountains at Emerald <br> Park)<sup>(a)</sup> <br>| 3.00 | 8/1/2056 | 3000000 | 1910385 |
| California Community Housing Agency, Revenue Bonds (Serenity at Larkspur <br> Apartments) Ser. A<sup>(a)</sup> <br>| 5.00 | 2/1/2050 | 5000000 | 3247603 |
| California Community Housing Agency, Revenue Bonds (Stoneridge Apartments) <br> Ser. A<sup>(a)</sup> <br>| 4.00 | 2/1/2056 | 3250000 | 2324919 |
| California Community Housing Agency, Revenue Bonds (Verdant at Green Valley <br> Project)<sup>(a)</sup> <br>| 5.00 | 8/1/2049 | 5000000 | 4381673 |
| California Educational Facilities Authority, Revenue Bonds (Sustainable Bond) <br> (Loyola Marymount University)<br>| 5.00 | 10/1/2048 | 3000000 | 3006227 |
| California Educational Facilities Authority, Revenue Bonds, Refunding (Loma Linda <br> University Medical Center Obligated Group) Ser. A<br>| 5.00 | 4/1/2042 | 2000000 | 2000821 |
| California Educational Facilities Authority, Revenue Bonds, Refunding (Loma Linda <br> University Medical Center Obligated Group) Ser. A<br>| 5.00 | 4/1/2047 | 2500000 | 2436150 |
| California Health Facilities Financing Authority, Revenue Bonds (Sustainable Bond) | 4.35 | 6/1/2041 | 2000000 | 1817474 |
| California Health Facilities Financing Authority, Revenue Bonds, Refunding (Lucile <br> Salter Packard Children's Hospital at Stanford Obligated Group)<br>| 4.00 | 5/15/2046 | 5000000 | 4373898 |
| California Infrastructure & Economic Development Bank, Revenue Bonds (Equitable <br> School Revolving Fund Obligated Group) Ser. B<br>| 5.00 | 11/1/2049 | 1500000 | 1450871 |
| California Infrastructure & Economic Development Bank, Revenue Bonds (Equitable <br> School Revolving Fund Obligated Group) Ser. B<br>| 5.00 | 11/1/2054 | 1500000 | 1431434 |
| California Infrastructure & Economic Development Bank, Revenue Bonds (Equitable <br> School Revolving Fund Obligated Group) Ser. B<br>| 5.00 | 11/1/2059 | 1000000 | 945289 |
| California Infrastructure & Economic Development Bank, Revenue Bonds, <br> Refunding (Sustainable Bonds) Ser. A<sup>(a),(b)</sup> <br>| 9.50 | 1/1/2035 | 27000000 | 24827537 |
| California Municipal Finance Authority, Revenue Bonds (Bowles Hall Foundation) <br> Ser. A<br>| 5.00 | 6/1/2035 | 600000 | 600317 |
| California Municipal Finance Authority, Revenue Bonds (Bowles Hall Foundation) <br> Ser. A<br>| 5.00 | 6/1/2050 | 2750000 | 2639330 |
| California Municipal Finance Authority, Revenue Bonds (CHF-Davis I) | 5.00 | 5/15/2040 | 5000000 | 5030733 |
| California Municipal Finance Authority, Revenue Bonds (CHF-Davis I) | 5.00 | 5/15/2043 | 5000000 | 4920052 |
| California Municipal Finance Authority, Revenue Bonds (CHF-Davis I) | 5.00 | 5/15/2048 | 6000000 | 5691328 |
| California Municipal Finance Authority, Revenue Bonds (CHF-Riverside I) | 5.00 | 5/15/2034 | 2250000 | 2325858 |
| California Municipal Finance Authority, Revenue Bonds (CHF-Riverside I) | 5.00 | 5/15/2037 | 2605000 | 2655923 |
| California Municipal Finance Authority, Revenue Bonds (CHF-Riverside I) | 5.00 | 5/15/2039 | 3265000 | 3298294 |
| California Municipal Finance Authority, Revenue Bonds (CHF-Riverside I) | 5.00 | 5/15/2043 | 2000000 | 1965739 |
| California Municipal Finance Authority, Revenue Bonds (CHF-Riverside I) | 5.00 | 5/15/2052 | 7500000 | 6999733 |
| California Municipal Finance Authority, Revenue Bonds (CHF-Riverside II) | 5.00 | 5/15/2049 | 2000000 | 1888479 |
| California Municipal Finance Authority, Revenue Bonds (Claremont Colleges <br> Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2040 | 1515000 | 1385766 |
| California Municipal Finance Authority, Revenue Bonds (Claremont Colleges <br> Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2052 | 2075000 | 1735671 |
| California Municipal Finance Authority, Revenue Bonds (John Adams Academy - <br> Lincoln) Ser. A<sup>(a)</sup> <br>| 5.00 | 10/1/2049 | 1515000 | 1310786 |
| California Municipal Finance Authority, Revenue Bonds (John Adams Academy - <br> Lincoln) Ser. A<sup>(a)</sup> <br>| 5.00 | 10/1/2057 | 1650000 | 1383581 |

---

**38**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** |
| California Municipal Finance Authority, Revenue Bonds (LAX Integrated <br> Express Solutions Project)<br>| 5.00 | 12/31/2047 | 2250000 | 2148504 |
| California Municipal Finance Authority, Revenue Bonds (Northbay Healthcare <br> Group Obligated Group) Ser. A<br>| 5.25 | 11/1/2041 | 1200000 | 1180165 |
| California Municipal Finance Authority, Revenue Bonds (Northbay Healthcare <br> Group Obligated Group) Ser. A<br>| 5.25 | 11/1/2047 | 700000 | 666675 |
| California Municipal Finance Authority, Revenue Bonds (Palmdale Aerospace <br> Academy Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2038 | 1100000 | 1057844 |
| California Municipal Finance Authority, Revenue Bonds (United Airlines Project) | 4.00 | 7/15/2029 | 3000000 | 2985377 |
| California Municipal Finance Authority, Revenue Bonds, (St. Ignatius College <br> Preparatory) Ser. A<br>| 5.00 | 9/1/2049 | 1000000 | 1018129 |
| California Municipal Finance Authority, Revenue Bonds, Refunding (Community <br> Medical Centers) Ser. A<br>| 5.00 | 2/1/2042 | 1000000 | 1000634 |
| California Public Finance Authority, Revenue Bonds (ENSO Village Project)<sup>(a)</sup> <br>| 3.13 | 5/15/2029 | 215000 | 211789 |
| California Public Finance Authority, Revenue Bonds (Hoag Memorial Hospital <br> Presbyterian Obligated Group) Ser. A<br>| 4.00 | 7/15/2051 | 3555000 | 3124139 |
| California Public Finance Authority, Revenue Bonds (Sustainable Bond) (ENSO <br> Village Project)<sup>(a)</sup> <br>| 5.00 | 11/15/2036 | 500000 | 486311 |
| California Public Finance Authority, Revenue Bonds (Sustainable Bond) (ENSO <br> Village Project)<sup>(a)</sup> <br>| 5.00 | 11/15/2051 | 250000 | 211108 |
| California School Finance Authority, Revenue Bonds (Aspire Public Schools <br> Obligated Group) Ser. A<sup>(a)</sup> <br>| 4.00 | 8/1/2036 | 300000 | 281449 |
| California School Finance Authority, Revenue Bonds (Aspire Public Schools <br> Obligated Group) Ser. A<sup>(a)</sup> <br>| 4.00 | 8/1/2041 | 500000 | 429046 |
| California School Finance Authority, Revenue Bonds (Aspire Public Schools <br> Obligated Group) Ser. A<sup>(a)</sup> <br>| 4.00 | 8/1/2051 | 750000 | 582940 |
| California School Finance Authority, Revenue Bonds (Aspire Public Schools <br> Obligated Group) Ser. A<sup>(a)</sup> <br>| 4.00 | 8/1/2061 | 2270000 | 1685597 |
| California School Finance Authority, Revenue Bonds (Green Dot Public Schools <br> California Project)<sup>(a)</sup> <br>| 5.00 | 8/1/2038 | 1000000 | 1007662 |
| California School Finance Authority, Revenue Bonds (Green Dot Public Schools <br> California Project)<sup>(a)</sup> <br>| 5.00 | 8/1/2048 | 2750000 | 2601033 |
| California School Finance Authority, Revenue Bonds (KIPP LA Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2037 | 590000 | 596167 |
| California School Finance Authority, Revenue Bonds (KIPP LA Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2047 | 870000 | 824782 |
| California School Finance Authority, Revenue Bonds, Refunding (Alliance for <br> College-Ready Public Schools)<sup>(a)</sup> <br>| 5.00 | 7/1/2039 | 250000 | 256881 |
| California School Finance Authority, Revenue Bonds, Refunding (Alliance for <br> College-Ready Public Schools)<sup>(a)</sup> <br>| 5.00 | 7/1/2049 | 1000000 | 972780 |
| California School Finance Authority, Revenue Bonds, Refunding (Alliance for <br> College-Ready Public Schools)<sup>(a)</sup> <br>| 5.00 | 7/1/2059 | 1500000 | 1418219 |
| California School Finance Authority, Revenue Bonds, Refunding (New Designs <br> Charter School) Ser. A<sup>(a)</sup> <br>| 5.00 | 6/1/2064 | 1100000 | 948266 |
| California School Finance Authority, Revenue Bonds, Refunding (Summit Public <br> Schools Obligated Group)<sup>(a),(c)</sup> <br>| 5.00 | 6/1/2027 | 800000 | 833497 |
| California School Finance Authority, Revenue Bonds, Refunding (Summit Public <br> Schools Obligated Group)<sup>(a)</sup> <br>| 5.00 | 6/1/2047 | 700000 | 611101 |
| California Statewide Communities Development Authority, Revenue Bonds (Loma <br> Linda University Medical Center Obligated Group)<sup>(a)</sup> <br>| 5.25 | 12/1/2038 | 1500000 | 1506806 |
| California Statewide Communities Development Authority, Revenue Bonds, <br> Refunding (CHF-Irvine)<br>| 5.00 | 5/15/2040 | 2000000 | 2001380 |
| California Statewide Communities Development Authority, Revenue Bonds, <br> Refunding (Front Porch Communities & Services Obligated Group)<br>| 4.00 | 4/1/2042 | 1600000 | 1409510 |

---

**39**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** |
| California Statewide Communities Development Authority, Revenue Bonds, <br> Refunding (Front Porch Communities & Services Obligated Group)<br>| 5.00 | 4/1/2047 | 1500000 | 1418904 |
| California Statewide Communities Development Authority, Revenue Bonds, <br> Refunding (Loma Linda University Medical Center Obligated Group)<br>| 5.25 | 12/1/2044 | 3000000 | 2914336 |
| California Statewide Communities Development Authority, Revenue Bonds (Loma <br> Linda University Medical Center Obligated Group)<sup>(a)</sup> <br>| 5.00 | 12/1/2033 | 1000000 | 1017182 |
| California University, Revenue Bonds, Refunding, Ser. AZ | 5.00 | 5/15/2043 | 5000000 | 5073052 |
| CMFA Special Finance Agency, Revenue Bonds, Ser. A1<sup>(a)</sup> <br>| 3.00 | 12/1/2056 | 1000000 | 619365 |
| CMFA Special Finance Agency VIII, Revenue Bonds, (Elan Huntington Beach) Ser. <br> A2<sup>(a)</sup> <br>| 4.00 | 8/1/2047 | 3000000 | 2594327 |
| Foothill-Eastern Transportation Corridor Agency, Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. B<br>| 2.96 | 1/15/2046 | 2000000 | 1404472 |
| Foothill-Eastern Transportation Corridor Agency, Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. D<br>| 3.06 | 1/15/2043 | 1000000 | 762742 |
| Foothill-Eastern Transportation Corridor Agency, Revenue Bonds, Refunding, Ser. A | 4.09 | 1/15/2049 | 7500000 | 5889098 |
| Foothill-Eastern Transportation Corridor Agency, Revenue Bonds, Refunding, Ser. <br> B1<br>| 3.95 | 1/15/2053 | 5000000 | 4209300 |
| Fowler Unified School District, GO (Insured; Build America Mutual) Ser. B | 3.38 | 8/1/2045 | 1200000 | 968520 |
| Fowler Unified School District, GO (Insured; Build America Mutual) Ser. B | 5.00 | 8/1/2050 | 3000000 | 3030934 |
| Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding (Insured; <br> State Appropriation) Ser. B<br>| 2.75 | 6/1/2034 | 5000000 | 4401046 |
| Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding (Insured; <br> State Appropriation) Ser. B<br>| 3.29 | 6/1/2042 | 6000000 | 4567614 |
| Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. A1 | 4.21 | 6/1/2050 | 10410000 | 7528471 |
| Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. B2<sup>(d)</sup> <br>| 0.00 | 6/1/2066 | 10000000 | 931671 |
| Grant Joint Union High School District, GO (Insured; Assured Guaranty Corp.)<sup>(d)</sup> <br>| 0.00 | 8/1/2029 | 2080000 | 1875011 |
| Grant Joint Union High School District, GO (Insured; Assured Guaranty Corp.)<sup>(d)</sup> <br>| 0.00 | 2/1/2033 | 4380000 | 3450266 |
| Irvine, Special Assessment Bonds, Refunding | 4.00 | 9/2/2029 | 1000000 | 1006637 |
| Lompoc Unified School District, GO, Ser. A | 5.25 | 8/1/2054 | 2000000 | 2089608 |
| Los Angeles Department of Water & Power, Revenue Bonds, Refunding, Ser. B | 5.00 | 7/1/2037 | 10000000 | 10734283 |
| Los Angeles Department of Water & Power, Revenue Bonds, Refunding, Ser. C | 5.00 | 7/1/2054 | 2505000 | 2493665 |
| New Haven Unified School District, GO (Insured; Assured Guaranty Corp.)<sup>(d)</sup> <br>| 0.00 | 8/1/2032 | 2500000 | 2031257 |
| Norman Y. Mineta San Jose International Airport, Revenue Bonds, Refunding, Ser. A | 5.00 | 3/1/2047 | 5000000 | 4879099 |
| Northern California Gas Authority No. 1, Revenue Bonds (Gas Project) Ser. B <br> (3 Month TSFR +0.72%)<sup>(e)</sup> <br>| 3.77 | 7/1/2027 | 225000 | 225035 |
| Oroville, Revenue Bonds (Oroville Hospital) | 5.25 | 4/1/2039 | 1750000 | 1410306 |
| Palomar Health, Revenue Bonds, Refunding | 5.00 | 11/1/2039 | 1000000 | 848841 |
| San Diego County Regional Airport Authority, Revenue Bonds, Ser. B | 4.00 | 7/1/2046 | 2000000 | 1718290 |
| San Diego County Regional Airport Authority, Revenue Bonds, Ser. B | 4.00 | 7/1/2051 | 2500000 | 2095969 |
| San Diego County Regional Transportation Commission, Revenue Bonds, Refunding, <br> Ser. A<br>| 5.00 | 4/1/2042 | 1750000 | 1864810 |
| San Francisco City & County Airport Commission, Revenue Bonds, Refunding, Ser. A | 5.00 | 5/1/2044 | 6500000 | 6501405 |
| Sierra Joint Community College District School Facilities District No. 2, GO (Insured; <br> National Public Finance Guarantee Corp.) Ser. B<sup>(d)</sup> <br>| 0.00 | 8/1/2030 | 3020000 | 2634657 |
| Sierra Joint Community College District School Facilities District No. 2, GO (Insured; <br> National Public Finance Guarantee Corp.) Ser. B<sup>(d)</sup> <br>| 0.00 | 8/1/2031 | 5330000 | 4482613 |
| Tender Option Bond Trust Receipts (Series 2022-XL0357), (Los <br> Angeles Department of Airports, Revenue Bonds, Refunding, Ser. H) Non-<br> recourse, Underlying Coupon Rate 5.50%<sup>(a),(f),(g)</sup> <br>| 12.37 | 5/15/2047 | 8010000 | 8200141 |
| Tender Option Bond Trust Receipts (Series 2025-XL0619), (Los <br> Angeles Department of Airports, Revenue Bonds, Refunding (Sustainable Bond) <br> Ser. D) Non-recourse, Underlying Coupon Rate 5.25%<sup>(a),(f),(g)</sup> <br>| 11.98 | 5/15/2048 | 20000000 | 21030684 |

---

**40**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** | **California — 15.7% (continued)** |
| The Morongo Band of Mission Indians, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 5.00 | 10/1/2042 | 1000000 | 988802 |
| Tobacco Securitization Authority of Northern California, Revenue Bonds, Refunding, <br> Ser. A<br>| 4.00 | 6/1/2037 | 500000 | 481334 |
| Tobacco Securitization Authority of Northern California, Revenue Bonds, Refunding, <br> Ser. A<br>| 4.00 | 6/1/2038 | 800000 | 760726 |
| Tobacco Securitization Authority of Northern California, Revenue Bonds, Refunding, <br> Ser. A<br>| 4.00 | 6/1/2039 | 1000000 | 939311 |
| Tobacco Securitization Authority of Northern California, Revenue Bonds, Refunding, <br> Ser. A<br>| 4.00 | 6/1/2040 | 500000 | 463541 |
| Transbay Joint Powers Authority, Tax Allocation Bonds (Sustainable Bond) Ser. A | 5.00 | 10/1/2039 | 900000 | 901239 |
| Transbay Joint Powers Authority, Tax Allocation Bonds (Sustainable Bond) Ser. A | 5.00 | 10/1/2040 | 1000000 | 994903 |
| Transbay Joint Powers Authority, Tax Allocation Bonds (Sustainable Bond) Ser. A | 5.00 | 10/1/2045 | 1000000 | 963214 |
| Transbay Joint Powers Authority, Tax Allocation Bonds (Sustainable Bond) Ser. A | 5.00 | 10/1/2049 | 1000000 | 940002 |
| Vernon Electric System, Revenue Bonds, Refunding, Ser. 2022-A | 5.00 | 8/1/2039 | 425000 | 438380 |
| Vernon Electric System, Revenue Bonds, Refunding, Ser. 2022-A | 5.00 | 8/1/2040 | 365000 | 373811 |
| Vernon Electric System, Revenue Bonds, Refunding, Ser. 2022-A | 5.00 | 8/1/2041 | 420000 | 426065 |
|  |  |  |  | **302889847** |
| **Colorado — 1.6%** | **Colorado — 1.6%** | **Colorado — 1.6%** | **Colorado — 1.6%** | **Colorado — 1.6%** |
| Board of Governors of Colorado University System, Revenue Bonds, Refunding, <br> (Insured; State Aid) Ser. C<sup>(c)</sup> <br>| 5.00 | 3/1/2028 | 1720000 | 1831838 |
| Centennial Water & Sanitation District, Revenue Bonds | 5.00 | 12/1/2053 | 2500000 | 2511321 |
| Colorado Bridge & Tunnel Enterprise, Revenue Bonds (Insured; Assured Guaranty <br> Corp.) Ser. A<br>| 5.50 | 12/1/2054 | 4450000 | 4642192 |
| Colorado Educational & Cultural Facilities Authority, Revenue Bonds, Refunding <br> (Ascent Classical Academy Charter Schools)<sup>(a)</sup> <br>| 5.75 | 4/1/2059 | 2000000 | 1857518 |
| Colorado Educational & Cultural Facilities Authority, Revenue Bonds, Refunding <br> (Ascent Classical Academy Charter Schools)<sup>(a)</sup> <br>| 5.80 | 4/1/2054 | 3000000 | 2838163 |
| Colorado Health Facilities Authority, Revenue Bonds (CommonSpirit Health <br> Obligated Group)<br>| 5.25 | 11/1/2052 | 1500000 | 1499918 |
| Colorado School of Mines, Revenue Bonds, (Insured; State Aid) Ser. A | 5.00 | 12/1/2054 | 3750000 | 3755092 |
| Colorado Springs School District No. 11 Facilities Corp., COP (Insured; Build <br> America Mutual)<br>| 5.25 | 12/15/2048 | 1710000 | 1749938 |
| Colorado University, Revenue Bonds, Ser. A | 5.00 | 6/1/2050 | 2625000 | 2656524 |
| Denver Urban Renewal Authority, Tax Allocation Bonds, Ser. A<sup>(a)</sup> <br>| 5.25 | 12/1/2039 | 2205000 | 2130472 |
| Denver Urban Renewal Authority, Tax Allocation Bonds, Ser. A<sup>(a)</sup> <br>| 5.25 | 12/1/2039 | 900000 | 869580 |
| Regional Transportation District, Revenue Bonds, Refunding (Denver Transit <br> Partners) Ser. A<br>| 3.00 | 7/15/2037 | 1000000 | 863869 |
| Regional Transportation District, Revenue Bonds, Refunding (Denver Transit <br> Partners) Ser. A<br>| 4.00 | 7/15/2033 | 1000000 | 1009726 |
| Regional Transportation District, Revenue Bonds, Refunding (Denver Transit <br> Partners) Ser. A<br>| 4.00 | 7/15/2035 | 1000000 | 988451 |
| Vail Home Partners Corp., Revenue Bonds<sup>(a)</sup> <br>| 5.88 | 10/1/2055 | 1000000 | 982635 |
|  |  |  |  | **30187237** |
| **Connecticut — .5%** | **Connecticut — .5%** | **Connecticut — .5%** | **Connecticut — .5%** | **Connecticut — .5%** |
| Connecticut, GO (Sustainable Bond) Ser. B | 3.00 | 6/1/2038 | 5850000 | 4984466 |
| Connecticut Health & Educational Facilities Authority, Revenue Bonds, Refunding <br> (The Stamford Hospital Obligated Group)<br>| 4.00 | 7/1/2037 | 5000000 | 4868152 |
|  |  |  |  | **9852618** |
| **District of Columbia — 2.4%** | **District of Columbia — 2.4%** | **District of Columbia — 2.4%** | **District of Columbia — 2.4%** | **District of Columbia — 2.4%** |
| District of Columbia, GO, Refunding, Ser. A | 5.25 | 1/1/2048 | 5375000 | 5533621 |

---

**41**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **District of Columbia — 2.4% (continued)** | **District of Columbia — 2.4% (continued)** | **District of Columbia — 2.4% (continued)** | **District of Columbia — 2.4% (continued)** | **District of Columbia — 2.4% (continued)** |
| District of Columbia, Revenue Bonds (District of Columbia International School <br> Obligated Group)<br>| 5.00 | 7/1/2049 | 4265000 | 4015705 |
| District of Columbia, Revenue Bonds (KIPP DC Project) | 4.00 | 7/1/2039 | 1275000 | 1161109 |
| District of Columbia, Revenue Bonds (KIPP DC Project) | 4.00 | 7/1/2044 | 1240000 | 1042623 |
| District of Columbia, Revenue Bonds (KIPP DC Project) | 4.00 | 7/1/2049 | 1375000 | 1093538 |
| District of Columbia, Revenue Bonds, Ser. A | 5.00 | 7/1/2042 | 6000000 | 6188756 |
| District of Columbia, Revenue Bonds, Refunding (KIPP DC Project) Ser. A | 5.00 | 7/1/2048 | 5000000 | 4717018 |
| District of Columbia Water & Sewer Authority, Revenue Bonds, Refunding, Ser. B1<sup>(f)</sup> <br>| 3.90 | 10/1/2054 | 7200000 | 7200000 |
| Metropolitan Washington Airports Authority, Revenue Bonds (Dulles Metrorail & <br> Capital Improvement Projects) (Insured; Assured Guaranty Corp.)<sup>(d)</sup> <br>| 0.00 | 10/1/2036 | 6275000 | 3964961 |
| Metropolitan Washington Airports Authority, Revenue Bonds, Refunding <br> (Dulles Metrorail) (Insured; Assured Guaranty Corp.) Ser. B<br>| 4.00 | 10/1/2053 | 5000000 | 4114893 |
| Washington Metropolitan Area Transit Authority, Revenue Bonds (Sustainable <br> Bond) Ser. A<br>| 3.00 | 7/15/2040 | 9520000 | 7669638 |
|  |  |  |  | **46701862** |
| **Florida — 3.1%** | **Florida — 3.1%** | **Florida — 3.1%** | **Florida — 3.1%** | **Florida — 3.1%** |
| Capital Trust Agency, Revenue Bonds (Franklin Academy Project)<sup>(a)</sup> <br>| 5.00 | 12/15/2035 | 1085000 | 1063343 |
| Capital Trust Agency, Revenue Bonds (Franklin Academy Project)<sup>(a)</sup> <br>| 5.00 | 12/15/2040 | 1220000 | 1122495 |
| Capital Trust Agency, Revenue Bonds (H-Bay Ministries-Superior Residences <br> Project) Ser. A1<sup>(h)</sup> <br>| 5.00 | 7/1/2048 | 750000 | 172500 |
| Capital Trust Agency, Revenue Bonds (H-Bay Ministries-Superior Residences <br> Project) Ser. B<sup>(h)</sup> <br>| 5.00 | 7/1/2053 | 250000 | 5625 |
| Capital Trust Authority, Revenue Bonds (Mason Classical Academy Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 6/1/2039 | 2010000 | 1900075 |
| Capital Trust Authority, Revenue Bonds (Mason Classical Academy Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 6/1/2044 | 1525000 | 1356012 |
| Capital Trust Authority, Revenue Bonds (Mason Classical Academy Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 6/1/2054 | 2900000 | 2423032 |
| Collier County Health Facilities Authority, Revenue Bonds, Refunding (Moorings, <br> Inc.) Ser. A<br>| 5.00 | 5/1/2045 | 2500000 | 2376826 |
| Florida Development Finance Corp., Revenue Bonds (Imagine School At Broward <br> Project)<sup>(a)</sup> <br>| 4.00 | 12/15/2029 | 525000 | 528264 |
| Florida Development Finance Corp., Revenue Bonds (Imagine School At Broward <br> Project)<sup>(a)</sup> <br>| 5.00 | 12/15/2034 | 500000 | 512295 |
| Florida Development Finance Corp., Revenue Bonds (Imagine School At Broward <br> Project)<sup>(a)</sup> <br>| 5.00 | 12/15/2039 | 500000 | 499991 |
| Florida Development Finance Corp., Revenue Bonds (Mater Academy Project) Ser. A | 5.00 | 6/15/2040 | 1650000 | 1626440 |
| Florida Development Finance Corp., Revenue Bonds (Mater Academy Project) Ser. A | 5.00 | 6/15/2050 | 6500000 | 5921061 |
| Florida Development Finance Corp., Revenue Bonds, Refunding (Glenridge on <br> Palmer Ranch Obligated Group)<sup>(a)</sup> <br>| 5.00 | 6/1/2051 | 1250000 | 1091340 |
| Florida Higher Educational Facilities Financing Authority, Revenue Bonds (Rollins <br> College Project)<br>| 4.13 | 12/1/2054 | 2590000 | 2153797 |
| Florida Higher Educational Facilities Financing Authority, Revenue Bonds, <br> Refunding (Rollins College Project) Ser. A<br>| 3.00 | 12/1/2048 | 7500000 | 5045188 |
| Florida Local Government Finance Commission, Revenue Bonds (Bridgeprep <br> Academy Projects) Ser. A<sup>(a)</sup> <br>| 5.50 | 6/15/2040 | 3280000 | 3283488 |
| Florida Local Government Finance Commission, Revenue Bonds (Bridgeprep <br> Academy Projects) Ser. A<sup>(a)</sup> <br>| 6.00 | 6/15/2045 | 2750000 | 2750128 |
| Halifax Hospital Medical Center, Revenue Bonds (Daytona Beach) | 4.25 | 6/1/2054 | 2000000 | 1736014 |
| Hillsborough County Industrial Development Authority, Revenue Bonds (Tampa <br> General Hospital Project)<br>| 4.00 | 8/1/2045 | 2220000 | 1914371 |
| Miami-Dade County Aviation, Revenue Bonds, Refunding, Ser. A | 4.00 | 10/1/2039 | 1500000 | 1435194 |
| Miami-Dade County Aviation, Revenue Bonds, Refunding, Ser. A | 4.00 | 10/1/2040 | 1625000 | 1538686 |
| Miami-Dade County Expressway Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2040 | 1050000 | 1048098 |

---

**42**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Florida — 3.1% (continued)** | **Florida — 3.1% (continued)** | **Florida — 3.1% (continued)** | **Florida — 3.1% (continued)** | **Florida — 3.1% (continued)** |
| Miami-Dade County Health Facilities Authority, Revenue Bonds, Refunding <br> (Children's Hospital Colorado Obligated Group)<br>| 5.00 | 8/1/2042 | 2000000 | 1993637 |
| Miami-Dade County Seaport Department, Revenue Bonds, Refunding (Insured; <br> Assured Guaranty Corp.) Ser. A1<br>| 4.00 | 10/1/2045 | 2500000 | 2147222 |
| Miami-Dade County Water & Sewer System, Revenue Bonds, Ser. A | 5.25 | 10/1/2054 | 5000000 | 5131934 |
| Palm Beach County, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 5.75 | 10/1/2055 | 1500000 | 1514778 |
| Pasco County, Revenue Bonds (H Lee Moffitt Cancer Center Project) (Insured; <br> Assured Guaranty Corp.)<br>| 5.75 | 9/1/2054 | 1000000 | 1044544 |
| Seminole County, Revenue Bonds, Refunding | 5.00 | 10/1/2052 | 3600000 | 3619490 |
| Tampa, Revenue Bonds, Ser. A<sup>(d)</sup> <br>| 0.00 | 9/1/2041 | 1000000 | 443065 |
| Tampa, Revenue Bonds, Ser. A<sup>(d)</sup> <br>| 0.00 | 9/1/2042 | 1000000 | 412387 |
| Tampa, Revenue Bonds, Ser. A<sup>(d)</sup> <br>| 0.00 | 9/1/2045 | 1850000 | 625185 |
| Tampa, Revenue Bonds, Ser. A<sup>(d)</sup> <br>| 0.00 | 9/1/2049 | 1800000 | 478263 |
|  |  |  |  | **58914768** |
| **Georgia — 3.6%** | **Georgia — 3.6%** | **Georgia — 3.6%** | **Georgia — 3.6%** | **Georgia — 3.6%** |
| DeKalb County Development Authority, Revenue Bonds (The Globe Academy <br> Project) Ser. A<br>| 5.00 | 6/1/2040 | 250000 | 247710 |
| DeKalb County Development Authority, Revenue Bonds (The Globe Academy <br> Project) Ser. A<br>| 5.00 | 6/1/2050 | 300000 | 274788 |
| DeKalb County Development Authority, Revenue Bonds (The Globe Academy <br> Project) Ser. A<br>| 5.00 | 6/1/2055 | 400000 | 359024 |
| Fayette County Development Authority, Revenue Bonds (United States Soccer <br> Federation)<br>| 5.25 | 10/1/2049 | 3000000 | 3021401 |
| Fayette County Development Authority, Revenue Bonds (United States Soccer <br> Federation)<br>| 5.25 | 10/1/2054 | 3000000 | 3004277 |
| Fulton County Development Authority, Revenue Bonds, Refunding (Robert W. <br> Woodruff Arts Center)<br>| 5.00 | 3/15/2044 | 6000000 | 5984489 |
| George L Smith II Congress Center Authority, Revenue Bonds (Convention Center <br> Hotel)<sup>(a)</sup> <br>| 5.00 | 1/1/2054 | 3000000 | 2644350 |
| Georgia Municipal Electric Authority, Revenue Bonds (Plant Vogtle Units <br> 3&4 Project)<br>| 4.00 | 1/1/2049 | 2000000 | 1709041 |
| Georgia Municipal Electric Authority, Revenue Bonds (Plant Vogtle Units <br> 3&4 Project) Ser. A<br>| 5.00 | 7/1/2052 | 2250000 | 2211401 |
| Georgia Municipal Electric Authority, Revenue Bonds, Refunding (Plant Vogtle Units <br> 3&4 Project) Ser. A<br>| 4.00 | 1/1/2051 | 1000000 | 842422 |
| Georgia Ports Authority, Revenue Bonds | 5.25 | 7/1/2043 | 6245000 | 6566905 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. A<sup>(b)</sup> <br>| 5.00 | 6/1/2032 | 3500000 | 3740341 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. A | 5.00 | 5/15/2043 | 1500000 | 1498497 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. B<sup>(b)</sup> <br>| 5.00 | 6/1/2029 | 5000000 | 5238837 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. C<sup>(b)</sup> <br>| 5.00 | 12/1/2031 | 10000000 | 10630527 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. D<sup>(b)</sup> <br>| 5.00 | 12/1/2030 | 5000000 | 5317996 |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. E<sup>(b)</sup> <br>| 5.00 | 12/1/2032 | 10500000 | 11241751 |
| Metropolitan Atlanta Rapid Transit Authority, Revenue Bonds (Sustainable Bond) <br> Ser. B<br>| 5.00 | 7/1/2042 | 1000000 | 1050673 |
| Metropolitan Atlanta Rapid Transit Authority, Revenue Bonds (Sustainable Bond) <br> Ser. B<br>| 5.00 | 7/1/2044 | 1250000 | 1298984 |
| The Atlanta Development Authority, Revenue Bonds, Ser. A1 | 5.25 | 7/1/2044 | 1500000 | 1499947 |
| The Atlanta Development Authority, Tax Allocation Bonds (Westside Gulch Area <br> Project) Ser. A1<sup>(a)</sup> <br>| 5.00 | 4/1/2034 | 1250000 | 1252522 |
|  |  |  |  | **69635883** |

---

**43**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Idaho — .7%** | **Idaho — .7%** | **Idaho — .7%** | **Idaho — .7%** | **Idaho — .7%** |
| Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health <br> System Obligated Group)<br>| 4.00 | 3/1/2046 | 2000000 | 1695611 |
| Idaho Health Facilities Authority, Revenue Bonds, Refunding (St. Luke's Health <br> System Obligated Group)<br>| 4.00 | 3/1/2051 | 2500000 | 2045399 |
| Idaho Housing & Finance Association, Revenue Bonds, Ser. A | 5.00 | 8/15/2043 | 9655000 | 9984557 |
|  |  |  |  | **13725567** |
| **Illinois — 7.3%** | **Illinois — 7.3%** | **Illinois — 7.3%** | **Illinois — 7.3%** | **Illinois — 7.3%** |
| Chicago, GO, Ser. A | 5.50 | 1/1/2049 | 4000000 | 3825825 |
| Chicago, GO, Refunding, Ser. A | 5.00 | 1/1/2032 | 600000 | 627187 |
| Chicago Board of Education, GO, Ser. A | 5.00 | 12/1/2041 | 1000000 | 924520 |
| Chicago Board of Education, GO, Ser. A | 5.88 | 12/1/2047 | 2500000 | 2537266 |
| Chicago Board of Education, GO, Ser. A<sup>(a)</sup> <br>| 7.00 | 12/1/2046 | 5000000 | 5123416 |
| Chicago Board of Education, GO, Ser. B | 6.50 | 12/1/2046 | 4500000 | 4523085 |
| Chicago Board of Education, GO, Refunding (Insured; Assured Guaranty Corp.) Ser. <br> A<br>| 5.00 | 12/1/2026 | 1170000 | 1197849 |
| Chicago Board of Education, GO, Refunding, Ser. A | 4.00 | 12/1/2027 | 750000 | 751146 |
| Chicago Board of Education, GO, Refunding, Ser. A | 7.00 | 12/1/2044 | 2500000 | 2505840 |
| Chicago Board of Education, GO, Refunding, Ser. B | 5.00 | 12/1/2033 | 600000 | 605897 |
| Chicago Board of Education, GO, Refunding, Ser. B<sup>(a)</sup> <br>| 6.75 | 12/1/2030 | 7500000 | 7916383 |
| Chicago Board of Education, GO, Refunding, Ser. B<sup>(a)</sup> <br>| 7.00 | 12/1/2042 | 10000000 | 10306558 |
| Chicago Board of Education, Revenue Bonds | 5.00 | 4/1/2042 | 1700000 | 1658033 |
| Chicago Board of Education, Revenue Bonds | 5.00 | 4/1/2046 | 1600000 | 1501601 |
| Chicago Board of Education, Revenue Bonds | 6.00 | 4/1/2046 | 1500000 | 1514451 |
| Chicago Midway International Airport, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2046 | 5000000 | 4999709 |
| Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2037 | 3000000 | 3058478 |
| Chicago O'Hare International Airport, Revenue Bonds, Refunding, Ser. B | 5.00 | 1/1/2041 | 6800000 | 6802322 |
| Chicago Wastewater Transmission, Revenue Bonds (Insured; Assured Guaranty <br> Corp.) Ser. A<br>| 5.25 | 1/1/2041 | 7225000 | 7572949 |
| Chicago Waterworks, Revenue Bonds, Refunding (Insured; Assured Guaranty Corp.) <br> Ser. B<br>| 5.00 | 11/1/2038 | 1150000 | 1203183 |
| Chicago Waterworks, Revenue Bonds, Refunding (Insured; Assured Guaranty Corp.) <br> Ser. B<br>| 5.00 | 11/1/2039 | 6080000 | 6330154 |
| Cook County, Revenue Bonds, Refunding, Ser. A | 5.25 | 11/15/2045 | 5000000 | 5109731 |
| Illinois, GO | 5.50 | 5/1/2030 | 2500000 | 2701924 |
| Illinois, GO | 5.50 | 5/1/2039 | 2500000 | 2606180 |
| Illinois, GO, Ser. A | 5.00 | 5/1/2042 | 2500000 | 2500542 |
| Illinois, GO, Ser. A | 5.00 | 3/1/2046 | 2500000 | 2427708 |
| Illinois, GO, Ser. B | 5.00 | 5/1/2038 | 2000000 | 2093935 |
| Illinois, GO, Ser. B | 5.00 | 5/1/2039 | 1000000 | 1036272 |
| Illinois, GO, Ser. B | 5.25 | 5/1/2044 | 1000000 | 1015505 |
| Illinois, GO, Ser. B | 5.25 | 5/1/2045 | 2000000 | 2026346 |
| Illinois, GO, Ser. B | 5.25 | 5/1/2047 | 1000000 | 1007241 |
| Illinois, GO, Ser. B | 5.25 | 5/1/2048 | 2500000 | 2517011 |
| Illinois, GO, Ser. B | 5.25 | 5/1/2049 | 2000000 | 2011036 |
| Illinois, GO, Ser. D | 5.00 | 11/1/2028 | 5150000 | 5418526 |
| Illinois, Revenue Bonds, Ser. B | 5.00 | 6/15/2039 | 5000000 | 5242653 |
| Illinois Finance Authority, Revenue Bonds (Shedd Aquarium Society Project) | 5.00 | 6/1/2047 | 1000000 | 981053 |
| Illinois Finance Authority, Revenue Bonds (The Chicago School) | 5.25 | 4/1/2043 | 1445000 | 1433806 |
| Illinois Finance Authority, Revenue Bonds, Refunding (Franciscan Communities <br> Obligated Group) Ser. A<br>| 5.00 | 5/15/2037 | 3000000 | 3004401 |

---

**44**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Illinois — 7.3% (continued)** | **Illinois — 7.3% (continued)** | **Illinois — 7.3% (continued)** | **Illinois — 7.3% (continued)** | **Illinois — 7.3% (continued)** |
| Illinois Finance Authority, Revenue Bonds, Refunding (The University of Chicago) <br> Ser. A<br>| 5.25 | 4/1/2041 | 500000 | 526861 |
| Illinois Finance Authority, Revenue Bonds, Refunding (The University of Chicago) <br> Ser. A<br>| 5.25 | 4/1/2042 | 1000000 | 1045031 |
| Illinois Finance Authority, Revenue Bonds, Refunding (The University of Chicago) <br> Ser. A<br>| 5.25 | 4/1/2043 | 900000 | 935118 |
| Illinois Finance Authority, Revenue Bonds, Refunding (The University of Chicago) <br> Ser. A<br>| 5.25 | 4/1/2044 | 750000 | 776080 |
| Illinois Finance Authority, Revenue Bonds, Refunding (The University of Chicago) <br> Ser. B<br>| 5.25 | 4/1/2038 | 3000000 | 3255360 |
| Illinois Finance Authority, Revenue Bonds, Refunding (The University of Chicago) <br> Ser. B<br>| 5.25 | 4/1/2039 | 1000000 | 1074892 |
| Illinois Toll Highway Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 1/1/2038 | 6000000 | 6474809 |
| Metropolitan Pier & Exposition Authority, Revenue Bonds (Insured; Assured <br> Guaranty Corp.) Ser. A<sup>(d)</sup> <br>| 0.00 | 12/15/2040 | 10000000 | 4772407 |
| Metropolitan Pier & Exposition Authority, Revenue Bonds, Refunding (McCormick <br> Place Expansion Project)<br>| 4.00 | 12/15/2047 | 2000000 | 1671888 |
| Metropolitan Pier & Exposition Authority, Revenue Bonds, Refunding (McCormick <br> Place Expansion Project)<br>| 5.00 | 6/15/2050 | 2000000 | 1916792 |
|  |  |  |  | **141068960** |
| **Indiana — 1.6%** | **Indiana — 1.6%** | **Indiana — 1.6%** | **Indiana — 1.6%** | **Indiana — 1.6%** |
| Indiana Finance Authority, Revenue Bonds (Butler University Project) | 4.00 | 2/1/2044 | 2595000 | 2298264 |
| Indiana Finance Authority, Revenue Bonds (Tippecanoe Student Housing Project) <br> Ser. A<br>| 5.00 | 6/1/2032 | 320000 | 340510 |
| Indiana Finance Authority, Revenue Bonds (Tippecanoe Student Housing Project) <br> Ser. A<br>| 5.00 | 6/1/2033 | 410000 | 434909 |
| Indiana Finance Authority, Revenue Bonds (Tippecanoe Student Housing Project) <br> Ser. A<br>| 5.00 | 6/1/2038 | 750000 | 762747 |
| Indiana Finance Authority, Revenue Bonds (Tippecanoe Student Housing Project) <br> Ser. A<br>| 5.00 | 6/1/2043 | 855000 | 829682 |
| Indiana Finance Authority, Revenue Bonds (Tippecanoe Student Housing Project) <br> Ser. A<br>| 5.00 | 6/1/2053 | 2300000 | 2134462 |
| Indiana Finance Authority, Revenue Bonds (Tippecanoe Student Housing Project) <br> Ser. A<br>| 5.13 | 6/1/2058 | 1650000 | 1542204 |
| Indiana Finance Authority, Revenue Bonds (U.S. Steel Corp.) Ser. A | 6.75 | 5/1/2039 | 1000000 | 1104350 |
| Indiana Finance Authority, Revenue Bonds, Refunding, Ser. D1<sup>(b)</sup> <br>| 5.00 | 10/1/2029 | 5000000 | 5375662 |
| Indiana Finance Authority, Revenue Bonds, Refunding, Ser. D2<sup>(b)</sup> <br>| 5.00 | 10/1/2031 | 5000000 | 5494132 |
| Northern Indiana Commuter Transportation District, Revenue Bonds | 5.00 | 1/1/2054 | 4000000 | 3970093 |
| Northern Indiana Commuter Transportation District, Revenue Bonds | 5.25 | 1/1/2049 | 3000000 | 3089498 |
| Valparaiso, Revenue Bonds, Refunding (Pratt Paper (IN) LLC Project)<sup>(a)</sup> <br>| 5.00 | 1/1/2054 | 3000000 | 2766024 |
|  |  |  |  | **30142537** |
| **Iowa — .3%** | **Iowa — .3%** | **Iowa — .3%** | **Iowa — .3%** | **Iowa — .3%** |
| Iowa Finance Authority, Revenue Bonds, Refunding (Sustainable Bond) | 5.00 | 8/1/2042 | 4000000 | 4175059 |
| Iowa Tobacco Settlement Authority, Revenue Bonds, Refunding, Ser. A2 | 4.00 | 6/1/2040 | 1000000 | 918068 |
|  |  |  |  | **5093127** |
| **Kentucky — .6%** | **Kentucky — .6%** | **Kentucky — .6%** | **Kentucky — .6%** | **Kentucky — .6%** |
| Kentucky Economic Development Finance Authority, Revenue Bonds, Refunding <br> (Louisville Arena Authority) (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.00 | 12/1/2047 | 1660000 | 1641229 |
| Kentucky Public Energy Authority, Revenue Bonds, Ser. A<sup>(b)</sup> <br>| 5.00 | 7/1/2030 | 5000000 | 5287431 |
| Kentucky Public Energy Authority, Revenue Bonds, Refunding, Ser. A<sup>(b)</sup> <br>| 5.25 | 12/1/2029 | 5000000 | 5325547 |
|  |  |  |  | **12254207** |

---

**45**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Louisiana — 1.1%** | **Louisiana — 1.1%** | **Louisiana — 1.1%** | **Louisiana — 1.1%** | **Louisiana — 1.1%** |
| Jefferson Parish Economic Development & Port District, Revenue Bonds (Kenner <br> Discovery Health Sciences Foundation) Ser. A<sup>(a)</sup> <br>| 5.50 | 6/15/2038 | 3200000 | 3133726 |
| Jefferson Parish Economic Development & Port District, Revenue Bonds (Kenner <br> Discovery Health Sciences Foundation) Ser. A<sup>(a)</sup> <br>| 5.63 | 6/15/2048 | 4350000 | 4031701 |
| Louisiana Public Facilities Authority, Revenue Bonds (Calcasieu Bridge Partners <br> LLC)<br>| 5.50 | 9/1/2054 | 8700000 | 8552141 |
| Louisiana Public Facilities Authority, Revenue Bonds (Louisiana Children's Medical <br> Center Obligated Group) (Insured; Assured Guaranty Corp.)<br>| 3.00 | 6/1/2050 | 1000000 | 672337 |
| Louisiana Public Facilities Authority, Revenue Bonds, Refunding (Tulane University) <br> Ser. A<sup>(c)</sup> <br>| 4.00 | 4/1/2030 | 240000 | 252848 |
| St. James Parish, Revenue Bonds (NuStar Logistics Project) Ser. 2<sup>(a)</sup> <br>| 6.35 | 7/1/2040 | 4115000 | 4415284 |
|  |  |  |  | **21058037** |
| **Maine — .1%** | **Maine — .1%** | **Maine — .1%** | **Maine — .1%** | **Maine — .1%** |
| Maine Housing Authority, Revenue Bonds (Sustainable Bond) Ser. D | 4.70 | 11/15/2053 | 2500000 | **2375878** |
| **Maryland — .2%** | **Maryland — .2%** | **Maryland — .2%** | **Maryland — .2%** | **Maryland — .2%** |
| Maryland Economic Development Corp., Revenue Bonds (Seagirt Marine Terminal <br> Project)<br>| 5.00 | 6/1/2044 | 200000 | 191502 |
| Maryland Economic Development Corp., Revenue Bonds (Seagirt Marine Terminal <br> Project)<br>| 5.00 | 6/1/2049 | 750000 | 694003 |
| Maryland Stadium Authority, Revenue Bonds (Football Stadium) Ser. A | 5.00 | 3/1/2036 | 3000000 | 3288592 |
|  |  |  |  | **4174097** |
| **Massachusetts — 4.7%** | **Massachusetts — 4.7%** | **Massachusetts — 4.7%** | **Massachusetts — 4.7%** | **Massachusetts — 4.7%** |
| Lowell Collegiate Charter School, Revenue Bonds | 5.00 | 6/15/2049 | 755000 | 686117 |
| Lowell Collegiate Charter School, Revenue Bonds | 5.00 | 6/15/2054 | 770000 | 685461 |
| Massachusetts, GO | 5.00 | 7/1/2045 | 5000000 | 5074731 |
| Massachusetts, GO, Ser. A | 5.00 | 1/1/2041 | 4750000 | 5013184 |
| Massachusetts, GO, Ser. E | 5.00 | 11/1/2045 | 7070000 | 7182166 |
| Massachusetts, GO, Refunding, Ser. E | 1.77 | 11/1/2032 | 90000 | 76584 |
| Massachusetts Bay Transportation Authority, Revenue Bonds, Refunding <br> (Sustainable Bond) Ser. A2<br>| 5.00 | 7/1/2052 | 2000000 | 2010458 |
| Massachusetts Bay Transportation Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2038 | 10715000 | 11680526 |
| Massachusetts Development Finance Agency, Revenue Bonds (Bentley University) | 5.00 | 7/1/2040 | 5500000 | 5518411 |
| Massachusetts Development Finance Agency, Revenue Bonds (Dana-Farber Cancer <br> Institute Obligated Group) Ser. N<br>| 5.00 | 12/1/2041 | 4060000 | 4080463 |
| Massachusetts Development Finance Agency, Revenue Bonds (Emerson College) <br> Ser. A<br>| 5.25 | 1/1/2042 | 5500000 | 5499589 |
| Massachusetts Development Finance Agency, Revenue Bonds (Wentworth Institute <br> of Technology)<br>| 5.00 | 10/1/2046 | 2015000 | 1862711 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding | 4.00 | 7/1/2045 | 2500000 | 2271438 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Emerson <br> College) Ser. A<br>| 5.00 | 1/1/2040 | 1000000 | 999968 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (NewBridge Charles Obligated Group)<sup>(a)</sup> <br>| 5.00 | 10/1/2057 | 2150000 | 1923607 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (SABIS <br> International Charter School)<br>| 5.00 | 4/15/2040 | 1500000 | 1421153 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Simmons <br> College) Ser. K1<br>| 5.00 | 10/1/2036 | 2115000 | 2078519 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Simmons <br> University) Ser. N<br>| 5.00 | 10/1/2043 | 1000000 | 888700 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Suffolk <br> University)<br>| 5.25 | 7/1/2055 | 5000000 | 4705965 |

---

**46**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Massachusetts — 4.7% (continued)** | **Massachusetts — 4.7% (continued)** | **Massachusetts — 4.7% (continued)** | **Massachusetts — 4.7% (continued)** | **Massachusetts — 4.7% (continued)** |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Wellforce <br> Obligated Group) (Insured; Assured Guaranty Corp.) Ser. C<br>| 4.00 | 10/1/2045 | 500000 | 430651 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2044 | 1375000 | 1285498 |
| Massachusetts Development Finance Agency, Revenue Bonds (Linden Ponds Inc.)<sup>(a)</sup> <br>| 5.13 | 11/15/2046 | 1500000 | 1504239 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (NewBridge Charles Inc.)<sup>(a)</sup> <br>| 5.00 | 10/1/2037 | 1000000 | 1008083 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (NewBridge Charles Inc.)<sup>(a)</sup> <br>| 5.00 | 10/1/2047 | 3000000 | 2784002 |
| Massachusetts Health & Educational Facilities Authority, Revenue Bonds (Museum <br> of Fine Arts) Ser. A1<sup>(f)</sup> <br>| 3.95 | 12/1/2037 | 400000 | 400000 |
| Massachusetts School Building Authority, Revenue Bonds, Ser. B | 5.25 | 2/15/2048 | 10000000 | 10117662 |
| Massachusetts School Building Authority, Revenue Bonds, Refunding, Ser. A | 5.25 | 2/15/2048 | 9500000 | 9611779 |
|  |  |  |  | **90801665** |
| **Michigan — 1.2%** | **Michigan — 1.2%** | **Michigan — 1.2%** | **Michigan — 1.2%** | **Michigan — 1.2%** |
| Detroit, COP (Insured; Financial Guaranty Insurance Co.)<sup>(h)</sup> <br>| 4.61 | 6/15/2026 | 5553415 | 5608949 |
| Detroit, GO | 5.00 | 4/1/2028 | 900000 | 943767 |
| Detroit, GO | 5.00 | 4/1/2029 | 1000000 | 1050230 |
| Detroit, GO | 5.00 | 4/1/2030 | 700000 | 732700 |
| Detroit, GO | 5.00 | 4/1/2031 | 1000000 | 1041349 |
| Detroit, GO | 5.00 | 4/1/2032 | 850000 | 882005 |
| Detroit, GO | 5.00 | 4/1/2033 | 1150000 | 1189083 |
| Detroit, GO | 5.00 | 4/1/2034 | 1000000 | 1030493 |
| Detroit, GO | 5.00 | 4/1/2035 | 1660000 | 1704525 |
| Detroit, GO | 5.00 | 4/1/2036 | 1200000 | 1226952 |
| Detroit, GO | 5.00 | 4/1/2038 | 1235000 | 1253435 |
| Detroit, GO (Sustainable Bond) Ser. A | 5.00 | 4/1/2046 | 1250000 | 1218181 |
| Detroit, GO (Sustainable Bond) Ser. A | 5.00 | 4/1/2050 | 2000000 | 1903874 |
| Michigan Finance Authority, Revenue Bonds, Refunding, Ser. A | 4.00 | 6/1/2038 | 1500000 | 1401446 |
| Michigan Finance Authority, Revenue Bonds, Refunding, Ser. A | 4.00 | 6/1/2040 | 2100000 | 1905113 |
| Michigan Tobacco Settlement Finance Authority, Revenue Bonds, Refunding, Ser. <br> C<sup>(d)</sup> <br>| 0.00 | 6/1/2058 | 30000000 | 780336 |
|  |  |  |  | **23872438** |
| **Minnesota — .4%** | **Minnesota — .4%** | **Minnesota — .4%** | **Minnesota — .4%** | **Minnesota — .4%** |
| Forest Lake, Revenue Bonds, Refunding (North Lakes Academy Project) | 5.00 | 7/1/2056 | 4000000 | 3152236 |
| Minneapolis, Revenue Bonds (Allina Health System Obligated Group) | 4.00 | 11/15/2038 | 5000000 | 4693502 |
|  |  |  |  | **7845738** |
| **Mississippi — .4%** | **Mississippi — .4%** | **Mississippi — .4%** | **Mississippi — .4%** | **Mississippi — .4%** |
| Mississippi Business Finance Corp., Revenue Bonds (Chevron USA, Inc. Project) Ser. <br> E<sup>(f)</sup> <br>| 3.75 | 12/1/2030 | 3600000 | 3600000 |
| Mississippi Business Finance Corp., Revenue Bonds (Chevron USA, Inc. Project) Ser. <br> I<sup>(f)</sup> <br>| 3.75 | 11/1/2035 | 200000 | 200000 |
| Mississippi Development Bank, Revenue Bonds (Insured; Assured Guaranty <br> Corp.)<sup>(c)</sup> <br>| 5.00 | 12/1/2025 | 2500000 | 2516041 |
| Mississippi Development Bank, Revenue Bonds (Jackson Water & Sewer System <br> Project) (Insured; Assured Guaranty Corp.)<br>| 6.88 | 12/1/2040 | 1625000 | 1649982 |
|  |  |  |  | **7966023** |
| **Missouri — .5%** | **Missouri — .5%** | **Missouri — .5%** | **Missouri — .5%** | **Missouri — .5%** |
| Metropolitan St. Louis Sewer District, Revenue Bonds, Refunding, Ser. B | 5.00 | 5/1/2047 | 2805000 | 2877645 |

---

**47**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Missouri — 0.5% (continued)** | **Missouri — 0.5% (continued)** | **Missouri — 0.5% (continued)** | **Missouri — 0.5% (continued)** | **Missouri — 0.5% (continued)** |
| Metropolitan St. Louis Sewer District, Revenue Bonds, Refunding, Ser. B | 5.25 | 5/1/2052 | 3000000 | 3087376 |
| Missouri Health & Educational Facilities Authority, Revenue Bonds, Refunding, Ser. <br> A<br>| 4.25 | 4/1/2055 | 5000000 | 4391946 |
|  |  |  |  | **10356967** |
| **Nebraska — .5%** | **Nebraska — .5%** | **Nebraska — .5%** | **Nebraska — .5%** | **Nebraska — .5%** |
| Tender Option Bond Trust Receipts (Series 2022-XL0356), (Omaha Public Power <br> District, Revenue Bonds, Refunding, Ser. A) Non-recourse, Underlying Coupon <br> Rate 5.00%<sup>(a),(f),(g)</sup> <br>| 9.31 | 2/1/2042 | 10000000 | **10083488** |
| **Nevada — .1%** | **Nevada — .1%** | **Nevada — .1%** | **Nevada — .1%** | **Nevada — .1%** |
| Nevada State Department of Business & Industry, Revenue Bonds, Refunding <br> (Sustainable Bonds)<sup>(a),(b)</sup> <br>| 9.50 | 1/1/2033 | 3000000 | **2758396** |
| **New Hampshire — .1%** | **New Hampshire — .1%** | **New Hampshire — .1%** | **New Hampshire — .1%** | **New Hampshire — .1%** |
| New Hampshire Business Finance Authority, Revenue Bonds (Presbyterian Senior <br> Living Project) Ser. A<br>| 5.25 | 7/1/2048 | 2500000 | **2403161** |
| **New Jersey — 2.8%** | **New Jersey — 2.8%** | **New Jersey — 2.8%** | **New Jersey — 2.8%** | **New Jersey — 2.8%** |
| Casino Reinvestment Development Authority, Revenue Bonds, Refunding (Insured; <br> Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2038 | 2250000 | 2393019 |
| Casino Reinvestment Development Authority, Revenue Bonds, Refunding (Insured; <br> Assured Guaranty Corp.) Ser. A<br>| 5.00 | 11/1/2039 | 1250000 | 1318099 |
| New Jersey Economic Development Authority, Revenue Bonds (Repauno Port & Rail <br> Terminal Project)<sup>(a)</sup> <br>| 6.38 | 1/1/2035 | 2500000 | 2561682 |
| New Jersey Economic Development Authority, Revenue Bonds (Repauno Port & Rail <br> Terminal Project)<sup>(a)</sup> <br>| 6.63 | 1/1/2045 | 2000000 | 2042214 |
| New Jersey Economic Development Authority, Revenue Bonds (The Goethals) | 5.13 | 1/1/2034 | 5325000 | 5332317 |
| New Jersey Economic Development Authority, Revenue Bonds (The Goethals) | 5.38 | 1/1/2043 | 5500000 | 5502678 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Ser. A<sup>(b)</sup> <br>| 5.00 | 7/1/2031 | 5000000 | 5553846 |
| New Jersey Educational Facilities Authority, Revenue Bonds, Ser. A<sup>(b)</sup> <br>| 5.00 | 7/1/2035 | 5000000 | 5656297 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds | 5.00 | 6/15/2030 | 1500000 | 1525357 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds<sup>(c)</sup> <br>| 5.50 | 12/15/2032 | 1000000 | 1177358 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Ser. CC | 5.00 | 6/15/2041 | 1000000 | 1034938 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Ser. CC | 5.00 | 6/15/2042 | 2000000 | 2049146 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Ser. CC | 5.00 | 6/15/2043 | 1000000 | 1017175 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Ser. CC | 5.00 | 6/15/2044 | 2000000 | 2021859 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 6/15/2030 | 3000000 | 3050714 |
| New Jersey Transportation Trust Fund Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 6/15/2031 | 2000000 | 2030974 |
| South Jersey Port Corp., Revenue Bonds, Ser. B | 5.00 | 1/1/2042 | 1250000 | 1242291 |
| South Jersey Port Corp., Revenue Bonds, Ser. B | 5.00 | 1/1/2048 | 1500000 | 1440631 |
| Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2046 | 3000000 | 2894624 |
| Tobacco Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A | 5.25 | 6/1/2046 | 5000000 | 4955914 |
|  |  |  |  | **54801133** |
| **New York — 12.6%** | **New York — 12.6%** | **New York — 12.6%** | **New York — 12.6%** | **New York — 12.6%** |
| Albany Capital Resource Corp., Revenue Bonds (KIPP Capital Region Public Charter <br> Schools)<br>| 4.50 | 6/1/2044 | 400000 | 356925 |
| Albany Capital Resource Corp., Revenue Bonds (KIPP Capital Region Public Charter <br> Schools)<br>| 4.75 | 6/1/2054 | 1000000 | 876650 |
| Albany Capital Resource Corp., Revenue Bonds (KIPP Capital Region Public Charter <br> Schools)<br>| 5.00 | 6/1/2064 | 2600000 | 2312992 |
| Build New York City Resource Corp., Revenue Bonds | 5.50 | 7/1/2050 | 3000000 | 3017176 |
| Build New York City Resource Corp., Revenue Bonds | 5.50 | 7/1/2055 | 2500000 | 2507334 |
| Build New York City Resource Corp., Revenue Bonds (Hellenic Classical Charter <br> Schools) Ser. A<sup>(a)</sup> <br>| 5.00 | 12/1/2041 | 1200000 | 1062899 |

---

**48**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **New York — 12.6% (continued)** | **New York — 12.6% (continued)** | **New York — 12.6% (continued)** | **New York — 12.6% (continued)** | **New York — 12.6% (continued)** |
| Build New York City Resource Corp., Revenue Bonds (Metropolitan Lighthouse <br> Charter School Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 6/1/2032 | 500000 | 501233 |
| Build New York City Resource Corp., Revenue Bonds (Metropolitan Lighthouse <br> Charter School Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 6/1/2037 | 700000 | 674560 |
| Build New York City Resource Corp., Revenue Bonds (Metropolitan Lighthouse <br> Charter School Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 6/1/2047 | 1000000 | 878481 |
| Build New York City Resource Corp., Revenue Bonds (NY Preparatory Charter <br> School Project) Ser. A<sup>(a)</sup> <br>| 4.00 | 6/15/2041 | 525000 | 436121 |
| Build New York City Resource Corp., Revenue Bonds (NY Preparatory Charter <br> School Project) Ser. A<sup>(a)</sup> <br>| 4.00 | 6/15/2051 | 690000 | 510635 |
| Build New York City Resource Corp., Revenue Bonds (NY Preparatory Charter <br> School Project) Ser. A<sup>(a)</sup> <br>| 4.00 | 6/15/2056 | 450000 | 322804 |
| Build New York City Resource Corp., Revenue Bonds (Shefa School Project) Ser. A<sup>(a)</sup> <br>| 2.50 | 6/15/2031 | 250000 | 227183 |
| Build New York City Resource Corp., Revenue Bonds (Shefa School Project) Ser. A<sup>(a)</sup> <br>| 5.00 | 6/15/2051 | 1250000 | 1080806 |
| Build New York City Resource Corp., Revenue Bonds (Sustainable Bond) (KIPP NYC <br> Public Charter Schools)<br>| 5.25 | 7/1/2052 | 1500000 | 1437909 |
| Build New York City Resource Corp., Revenue Bonds (Sustainable Bond) (KIPP NYC <br> Public Charter Schools)<br>| 5.25 | 7/1/2057 | 1750000 | 1659352 |
| Metropolitan Transportation Authority, Revenue Bonds, Refunding (Sustainable <br> Bond) Ser. C1<br>| 5.00 | 11/15/2050 | 6000000 | 5879103 |
| Metropolitan Transportation Authority, Revenue Bonds, Refunding (Sustainable <br> Bond) Ser. C2<br>| 5.18 | 11/15/2049 | 780000 | 695718 |
| Metropolitan Transportation Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 11/15/2037 | 6000000 | 6414627 |
| Metropolitan Transportation Authority Hudson Rail Yards Trust, Revenue Bonds, <br> Refunding, Ser. A<br>| 5.00 | 11/15/2056 | 5000000 | 4831137 |
| Monroe County Industrial Development Corp., Revenue Bonds (Eugenio Maria De <br> Hostos Charter School Project)<sup>(a)</sup> <br>| 5.00 | 7/1/2044 | 1320000 | 1169714 |
| Monroe County Industrial Development Corp., Revenue Bonds (Eugenio Maria De <br> Hostos Charter School Project)<sup>(a)</sup> <br>| 5.00 | 7/1/2054 | 2000000 | 1686895 |
| Monroe County Industrial Development Corp., Revenue Bonds (Sustainable Bond) <br> (Insured; FNMA HUD SECT 8) Ser. A<br>| 4.72 | 1/1/2044 | 1500000 | 1461290 |
| New York City, GO (LOC; Bank of America NA) Ser. 3<sup>(f)</sup> <br>| 3.90 | 4/1/2036 | 900000 | 900000 |
| New York City, GO (LOC; Mizuho Bank Ltd) Ser. A2<sup>(f)</sup> <br>| 3.90 | 10/1/2038 | 1000000 | 1000000 |
| New York City, GO (LOC; TD Bank NA) Ser. E5<sup>(f)</sup> <br>| 3.90 | 3/1/2048 | 4005000 | 4005000 |
| New York City, GO, Ser. A5<sup>(f)</sup> <br>| 3.95 | 8/1/2044 | 700000 | 700000 |
| New York City, GO, Ser. D | 5.25 | 4/1/2047 | 5000000 | 5153707 |
| New York City, GO, Ser. F1 | 3.00 | 3/1/2041 | 1215000 | 966921 |
| New York City Industrial Development Agency, Revenue Bonds, Refunding (Queens <br> Baseball Stadium Project) (Insured; Assured Guaranty Corp.) Ser. A<br>| 3.00 | 1/1/2039 | 4285000 | 3597479 |
| New York City Industrial Development Agency, Revenue Bonds, Refunding (Queens <br> Baseball Stadium Project) (Insured; Assured Guaranty Corp.) Ser. A<br>| 3.00 | 1/1/2040 | 1750000 | 1425357 |
| New York City Industrial Development Agency, Revenue Bonds, Refunding (Queens <br> Baseball Stadium Project) (Insured; Assured Guaranty Corp.) Ser. A<br>| 3.00 | 1/1/2046 | 5000000 | 3571422 |
| New York City Industrial Development Agency, Revenue Bonds, Refunding (Yankee <br> Stadium Project) (Insured; Assured Guaranty Corp.)<br>| 3.00 | 3/1/2036 | 2500000 | 2275612 |
| New York City Municipal Water Finance Authority, Revenue Bonds, Refunding Ser. <br> B1<sup>(f)</sup> <br>| 3.90 | 6/15/2049 | 5000000 | 5000000 |
| New York City Transitional Finance Authority, Revenue Bonds, Ser. A1 | 5.25 | 5/1/2048 | 3000000 | 3108574 |
| New York City Transitional Finance Authority, Revenue Bonds, Ser. A1 | 5.50 | 5/1/2050 | 4500000 | 4745885 |
| New York City Transitional Finance Authority, Revenue Bonds, Ser. F1 | 5.00 | 2/1/2044 | 6770000 | 6908810 |
| New York City Transitional Finance Authority, Revenue Bonds, Refunding (Insured; <br> State Aid Withholding) Ser. S1A<br>| 3.00 | 7/15/2039 | 1750000 | 1452815 |

---

**49**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **New York — 12.6% (continued)** | **New York — 12.6% (continued)** | **New York — 12.6% (continued)** | **New York — 12.6% (continued)** | **New York — 12.6% (continued)** |
| New York Counties Tobacco Trust VI, Revenue Bonds, Refunding, Ser. A2B | 5.00 | 6/1/2045 | 4500000 | 3830388 |
| New York Liberty Development Corp., Revenue Bonds, Refunding (Bank of America <br> Tower)<br>| 2.80 | 9/15/2069 | 4000000 | 3659938 |
| New York Liberty Development Corp., Revenue Bonds, Refunding (Class 1-3 World <br> Trade Center Project) Ser. 1<sup>(a)</sup> <br>| 5.00 | 11/15/2044 | 8000000 | 7774484 |
| New York Liberty Development Corp., Revenue Bonds, Refunding (Sustainable <br> Bond) Ser. A<br>| 3.00 | 11/15/2051 | 2500000 | 1682588 |
| New York State Dormitory Authority, Revenue Bonds (White Plains Hospital <br> Obligated Group)<br>| 5.25 | 10/1/2049 | 500000 | 485348 |
| New York State Dormitory Authority, Revenue Bonds (White Plains Hospital <br> Obligated Group) (Insured; Assured Guaranty Corp.)<br>| 5.50 | 10/1/2054 | 1000000 | 1021489 |
| New York State Dormitory Authority, Revenue Bonds, Refunding (Insured; Assured <br> Guaranty Corp.)<br>| 5.00 | 10/1/2038 | 5000000 | 5259818 |
| New York State Dormitory Authority, Revenue Bonds, Refunding, Ser. A | 5.25 | 3/15/2052 | 3500000 | 3599995 |
| New York State Thruway Authority, Revenue Bonds, Refunding, Ser. P | 5.25 | 1/1/2054 | 1500000 | 1538312 |
| New York Transportation Development Corp., Revenue Bonds (Delta Air Lines) | 4.38 | 10/1/2045 | 5000000 | 4343056 |
| New York Transportation Development Corp., Revenue Bonds (Delta Air Lines) | 5.00 | 10/1/2035 | 8000000 | 8116282 |
| New York Transportation Development Corp., Revenue Bonds (Delta Air Lines) | 5.00 | 1/1/2036 | 2500000 | 2520137 |
| New York Transportation Development Corp., Revenue Bonds (Delta Air Lines) | 5.00 | 10/1/2040 | 5000000 | 4969494 |
| New York Transportation Development Corp., Revenue Bonds (John F. Kennedy <br> International Airport Terminal)<br>| 5.00 | 12/1/2038 | 2805000 | 2852918 |
| New York Transportation Development Corp., Revenue Bonds (John F. Kennedy <br> International Airport Terminal)<br>| 5.00 | 12/1/2039 | 4000000 | 4039917 |
| New York Transportation Development Corp., Revenue Bonds (John F. Kennedy <br> International Airport Terminal)<br>| 5.00 | 12/1/2041 | 5335000 | 5302966 |
| New York Transportation Development Corp., Revenue Bonds (John F. Kennedy <br> International Airport Terminal)<br>| 5.00 | 12/1/2042 | 3000000 | 2938702 |
| New York Transportation Development Corp., Revenue Bonds (John F. Kennedy <br> International Airport Terminal)<br>| 5.25 | 6/30/2049 | 5000000 | 4802640 |
| New York Transportation Development Corp., Revenue Bonds (John F. Kennedy <br> International Airport Terminal)<br>| 5.50 | 6/30/2054 | 5000000 | 4852344 |
| New York Transportation Development Corp., Revenue Bonds (Sustainable Bond) <br> (John F. Kennedy International Airport Terminal) (Insured; Assured Guaranty <br> Corp.)<br>| 5.00 | 6/30/2049 | 2000000 | 1927048 |
| New York Transportation Development Corp., Revenue Bonds (Sustainable Bonds) | 6.00 | 6/30/2059 | 4000000 | 4095907 |
| New York Transportation Development Corp., Revenue Bonds (Sustainable Bonds) <br> (John F. Kennedy International Airport New Terminal One Project)<br>| 6.00 | 6/30/2055 | 2500000 | 2572190 |
| New York Transportation Development Corp., Revenue Bonds, Refunding <br> (American Airlines)<br>| 2.25 | 8/1/2026 | 215000 | 212266 |
| New York Transportation Development Corp., Revenue Bonds, Refunding <br> (American Airlines)<br>| 3.00 | 8/1/2031 | 1000000 | 924112 |
| New York Transportation Development Corp., Revenue Bonds, Refunding (John F. <br> Kennedy International Air Terminal) Ser. A<br>| 4.00 | 12/1/2039 | 2000000 | 1774542 |
| New York Transportation Development Corp., Revenue Bonds, Refunding (John F. <br> Kennedy International Air Terminal) Ser. A<br>| 5.00 | 12/1/2035 | 400000 | 412611 |
| New York Transportation Development Corp., Revenue Bonds, Refunding (John F. <br> Kennedy International Air Terminal) Ser. A<br>| 5.00 | 12/1/2037 | 700000 | 711076 |
| New York Transportation Development Corp., Revenue Bonds, Refunding <br> (Sustainable Bond) (John F. Kennedy International Airport Terminal) (Insured; <br> Assured Guaranty Corp.) Ser. A<br>| 5.25 | 12/31/2054 | 7500000 | 7400572 |
| Oneida County Local Development Corp., Revenue Bonds, Refunding (Mohawk <br> Valley Health System Obligated Group) (Insured; Assured Guaranty Corp.)<br>| 4.00 | 12/1/2049 | 4000000 | 3416238 |

---

**50**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **New York — 12.6% (continued)** | **New York — 12.6% (continued)** | **New York — 12.6% (continued)** | **New York — 12.6% (continued)** | **New York — 12.6% (continued)** |
| Oneida Indian Nation of New York, Revenue Bonds, Ser. B<sup>(a)</sup> <br>| 6.00 | 9/1/2043 | 1150000 | 1202804 |
| Port Authority of New York & New Jersey, Revenue Bonds, Refunding, Ser. 226 | 5.00 | 10/15/2030 | 1675000 | 1830090 |
| Tender Option Bond Trust Receipts (Series 2025-XL0601), (New York Dorm <br> Authority, Personal Income Tax Revenue Bonds, Refunding, Ser. A) Recourse, <br> Underlying Coupon Rate 5.00%<sup>(a),(f),(g)</sup> <br>| 11.45 | 3/15/2049 | 21175000 | 21414754 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds, Ser. A | 5.00 | 11/15/2049 | 5000000 | 5002146 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds, Ser. A | 5.25 | 12/1/2054 | 5500000 | 5625025 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds, Ser. A1 | 5.25 | 5/15/2064 | 5000000 | 5133119 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds, Ser. A2 | 5.25 | 5/15/2059 | 6000000 | 6152308 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds, Ser. A3 | 5.25 | 5/15/2064 | 10000000 | 10227814 |
| Triborough Bridge & Tunnel Authority, Revenue Bonds, Ser. C1A | 5.00 | 5/15/2040 | 4000000 | 4179886 |
|  |  |  |  | **242618450** |
| **North Dakota — .3%** | **North Dakota — .3%** | **North Dakota — .3%** | **North Dakota — .3%** | **North Dakota — .3%** |
| North Dakota Housing Finance Agency, Revenue Bonds (Sustainable Bond) | 4.50 | 7/1/2043 | 2835000 | 2748443 |
| North Dakota Housing Finance Agency, Revenue Bonds (Sustainable Bond) | 4.55 | 7/1/2048 | 3410000 | 3231639 |
|  |  |  |  | **5980082** |
| **Ohio — 2.0%** | **Ohio — 2.0%** | **Ohio — 2.0%** | **Ohio — 2.0%** | **Ohio — 2.0%** |
| Cleveland-Cuyahoga County Port Authority, Revenue Bonds, Refunding (Playhouse <br> Square Foundation Project)<br>| 5.25 | 12/1/2038 | 2420000 | 2425495 |
| Cleveland-Cuyahoga County Port Authority, Revenue Bonds, Refunding (Playhouse <br> Square Foundation Project)<br>| 5.50 | 12/1/2043 | 1580000 | 1576375 |
| Cleveland-Cuyahoga County Port Authority, Revenue Bonds, Refunding (Playhouse <br> Square Foundation Project)<br>| 5.50 | 12/1/2053 | 1500000 | 1423477 |
| Dayton-Montgomery County Port Authority, Revenue Bonds (Dayton Regional <br> STEM Schools Project)<br>| 5.00 | 12/1/2044 | 500000 | 486028 |
| Montgomery County, Revenue Bonds, Refunding (Kettering Health Network <br> Obligated Group)<br>| 3.00 | 8/1/2040 | 1600000 | 1287247 |
| Ohio, GO, Ser. A | 3.00 | 5/1/2039 | 5000000 | 4320283 |
| Ohio, Revenue Bonds (Portsmouth Bypass Project) (Insured; Assured Guaranty <br> Corp.)<br>| 5.00 | 12/31/2035 | 3000000 | 3001207 |
| Ohio, Revenue Bonds (Portsmouth Bypass Project) (Insured; Assured Guaranty <br> Corp.)<br>| 5.00 | 12/31/2039 | 2000000 | 1987060 |
| Ohio, Revenue Bonds, Refunding (University Hospitals Health System Obligated <br> Group) Ser. E<br>| 4.00 | 1/15/2038 | 1600000 | 1520161 |
| Ohio, Revenue Bonds, Refunding (University Hospitals Health System Obligated <br> Group) Ser. E<br>| 4.00 | 1/15/2039 | 800000 | 749211 |
| Ohio, Revenue Bonds, Refunding (University Hospitals Health System Obligated <br> Group) Ser. E<br>| 4.00 | 1/15/2040 | 1300000 | 1196640 |
| Ohio, Revenue Bonds, Refunding (University Hospitals Health System Obligated <br> Group) Ser. E<br>| 5.00 | 1/15/2036 | 1400000 | 1446471 |
| Ohio Air Quality Development Authority, Revenue Bonds (Pratt Paper Project)<sup>(a)</sup> <br>| 4.25 | 1/15/2038 | 2500000 | 2394309 |
| Ohio Higher Educational Facility Commission, Revenue Bonds, Refunding (John <br> Carroll University)<br>| 4.00 | 10/1/2042 | 5000000 | 4122644 |
| Ohio Higher Educational Facility Commission, Revenue Bonds, Refunding (John <br> Carroll University)<br>| 4.00 | 10/1/2047 | 5000000 | 3898670 |
| Ohio Water Development Authority Water Pollution Control Loan Fund, Revenue <br> Bonds, Ser. C<sup>(f)</sup> <br>| 3.90 | 12/1/2054 | 5500000 | 5500000 |
| Toledo-Lucas County Port Authority, Revenue Bonds (University of Toledo Parking <br> Project)<br>| 4.00 | 1/1/2051 | 1000000 | 761323 |
|  |  |  |  | **38096601** |
| **Oklahoma — 1.6%** | **Oklahoma — 1.6%** | **Oklahoma — 1.6%** | **Oklahoma — 1.6%** | **Oklahoma — 1.6%** |
| Oklahoma City Water Utilities Trust, Revenue Bonds | 5.00 | 7/1/2049 | 6500000 | 6629759 |

---

**51**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Oklahoma — 1.6% (continued)** | **Oklahoma — 1.6% (continued)** | **Oklahoma — 1.6% (continued)** | **Oklahoma — 1.6% (continued)** | **Oklahoma — 1.6% (continued)** |
| Oklahoma City Water Utilities Trust, Revenue Bonds | 5.00 | 7/1/2054 | 7000000 | 7099628 |
| Oklahoma Turnpike Authority, Revenue Bonds, Ser. A | 5.25 | 1/1/2050 | 5000000 | 5158552 |
| Oklahoma Turnpike Authority, Revenue Bonds, Ser. A | 5.50 | 1/1/2054 | 5000000 | 5272159 |
| Oklahoma Water Resources Board, Revenue Bonds, Ser. B | 4.25 | 10/1/2050 | 5420000 | 4948666 |
| Tulsa Municipal Airport Trust, Revenue Bonds, Refunding | 6.25 | 12/1/2040 | 1500000 | 1626231 |
|  |  |  |  | **30734995** |
| **Oregon — .3%** | **Oregon — .3%** | **Oregon — .3%** | **Oregon — .3%** | **Oregon — .3%** |
| Oregon, GO, Refunding, Ser. A | 5.00 | 5/1/2040 | 600000 | 645760 |
| Oregon, GO, Refunding, Ser. A | 5.25 | 5/1/2042 | 500000 | 539676 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2038 | 280000 | 305284 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2039 | 325000 | 351531 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2040 | 200000 | 214723 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2042 | 200000 | 211125 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2043 | 280000 | 293360 |
| Oregon Coast Community College District, GO (Insured; School Board Guaranty) | 5.00 | 6/15/2045 | 815000 | 845708 |
| Warm Springs Reservation Confederated Tribe, Revenue Bonds, Refunding <br> (Sustainable Bond) Ser. B<sup>(a)</sup> <br>| 5.00 | 11/1/2036 | 700000 | 732585 |
| Warm Springs Reservation Confederated Tribe, Revenue Bonds, Refunding <br> (Sustainable Bond) Ser. B<sup>(a)</sup> <br>| 5.00 | 11/1/2039 | 700000 | 722163 |
|  |  |  |  | **4861915** |
| **Pennsylvania — 1.6%** | **Pennsylvania — 1.6%** | **Pennsylvania — 1.6%** | **Pennsylvania — 1.6%** | **Pennsylvania — 1.6%** |
| Commonwealth Financing Authority, Revenue Bonds (Tobacco Master Settlement <br> Payment)<br>| 5.00 | 6/1/2035 | 3500000 | 3623723 |
| Geisinger Authority, Revenue Bonds, Refunding (Geisinger Health System Obligated <br> Group)<br>| 4.00 | 4/1/2039 | 1500000 | 1421302 |
| Lancaster County Hospital Authority, Revenue Bonds (Penn State Health Obligated <br> Group)<br>| 5.00 | 11/1/2037 | 600000 | 619855 |
| Lancaster County Hospital Authority, Revenue Bonds (Penn State Health Obligated <br> Group)<br>| 5.00 | 11/1/2038 | 1085000 | 1112304 |
| Lancaster County Hospital Authority, Revenue Bonds (Penn State Health Obligated <br> Group)<br>| 5.00 | 11/1/2039 | 1100000 | 1122715 |
| Lancaster County Hospital Authority, Revenue Bonds (Penn State Health Obligated <br> Group)<br>| 5.00 | 11/1/2040 | 1300000 | 1323113 |
| Lancaster County Hospital Authority, Revenue Bonds (Penn State Health Obligated <br> Group)<br>| 5.00 | 11/1/2041 | 1750000 | 1772784 |
| Lancaster County Hospital Authority, Revenue Bonds (Penn State Health Obligated <br> Group)<br>| 5.00 | 11/1/2046 | 2000000 | 1969176 |
| Latrobe Industrial Development Authority, Revenue Bonds, Refunding (Seton Hill <br> University)<br>| 4.00 | 3/1/2046 | 685000 | 524920 |
| Latrobe Industrial Development Authority, Revenue Bonds, Refunding (Seton Hill <br> University)<br>| 4.00 | 3/1/2051 | 700000 | 515685 |
| Lehigh County General Purpose Authority, Revenue Bonds, Refunding (Muhlenberg <br> College Project)<br>| 5.25 | 2/1/2054 | 1600000 | 1525226 |
| Montgomery County Higher Education & Health Authority, Revenue Bonds, <br> Refunding (Thomas Jefferson University Project)<br>| 4.00 | 9/1/2044 | 1750000 | 1509556 |
| Pennsylvania Economic Development Financing Authority, Revenue Bonds, <br> Refunding (Tapestry Moon Senior Housing Project)<sup>(a),(h)</sup> <br>| 6.50 | 12/1/2038 | 3000000 | 600000 |
| Pennsylvania Economic Development Financing Authority, Revenue Bonds (The <br> Penndot Major Bridges) (Insured; Assured Guaranty Corp.)<br>| 5.00 | 12/31/2057 | 1000000 | 955251 |
| Pennsylvania Turnpike Commission, Revenue Bonds, Refunding, Ser. A | 3.00 | 12/1/2051 | 3000000 | 2100950 |

---

**52**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Pennsylvania — 1.6% (continued)** | **Pennsylvania — 1.6% (continued)** | **Pennsylvania — 1.6% (continued)** | **Pennsylvania — 1.6% (continued)** | **Pennsylvania — 1.6% (continued)** |
| Philadelphia Housing Authority, Revenue Bonds (PHADC Acquisition Program) Ser. <br> A<br>| 5.25 | 3/1/2038 | 5455000 | 5816284 |
| Philadelphia Housing Authority, Revenue Bonds (PHADC Acquisition Program) Ser. <br> A<br>| 5.25 | 3/1/2040 | 5060000 | 5307484 |
|  |  |  |  | **31820328** |
| **Rhode Island — .7%** | **Rhode Island — .7%** | **Rhode Island — .7%** | **Rhode Island — .7%** | **Rhode Island — .7%** |
| Rhode Island Health & Educational Building Corp., Revenue Bonds | 5.25 | 8/15/2043 | 1000000 | 1018178 |
| Rhode Island Health & Educational Building Corp., Revenue Bonds, Refunding <br> (Insured; Assured Guaranty Corp.) Ser. C<br>| 5.00 | 5/15/2043 | 5690000 | 5837927 |
| Rhode Island Health & Educational Building Corp., Revenue Bonds, Refunding <br> (Providence College)<br>| 5.00 | 11/1/2045 | 7000000 | 6941819 |
|  |  |  |  | **13797924** |
| **South Carolina — .8%** | **South Carolina — .8%** | **South Carolina — .8%** | **South Carolina — .8%** | **South Carolina — .8%** |
| South Carolina Housing Finance & Development Authority, Revenue Bonds <br> (Edgewood Place Apartment) (Insured; Federal National Mortgage Association) <br> Ser. A<br>| 4.80 | 7/1/2045 | 2000000 | 1950620 |
| South Carolina Jobs-Economic Development Authority, Revenue Bonds, Refunding <br> (McLeod Health Project)<br>| 5.25 | 11/1/2054 | 5000000 | 5138973 |
| South Carolina Public Service Authority, Revenue Bonds (Insured; Assured <br> Guaranty Corp.) Ser. A<br>| 5.00 | 12/1/2050 | 3500000 | 3512329 |
| South Carolina Public Service Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 12/1/2036 | 2000000 | 2012977 |
| Spartanburg Regional Health Services District, Revenue Bonds, Refunding | 4.00 | 4/15/2036 | 1370000 | 1353603 |
| Spartanburg Regional Health Services District, Revenue Bonds, Refunding | 4.00 | 4/15/2037 | 835000 | 796189 |
|  |  |  |  | **14764691** |
| **Tennessee — .9%** | **Tennessee — .9%** | **Tennessee — .9%** | **Tennessee — .9%** | **Tennessee — .9%** |
| Metropolitan Government Nashville & Davidson County Sports Authority, Revenue <br> Bonds (Stadium Project) (Insured; Assured Guaranty Corp.) Ser. A<br>| 5.25 | 7/1/2053 | 1000000 | 1015525 |
| New Memphis Arena Public Building Authority, Revenue Bonds<sup>(i)</sup> <br>| 4.00 | 4/1/2031 | 750000 | 734581 |
| New Memphis Arena Public Building Authority, Revenue Bonds (Memphis <br> Project)<sup>(d)</sup> <br>| 0.00 | 4/1/2032 | 775000 | 591247 |
| Tennergy Corp., Revenue Bonds, Ser. A<sup>(b)</sup> <br>| 5.00 | 12/1/2029 | 10000000 | 10555428 |
| Tennessee Energy Acquisition Corp., Revenue Bonds, Refunding (Gas Project) Ser. <br> A<sup>(b)</sup> <br>| 5.00 | 5/1/2028 | 5000000 | 5190616 |
|  |  |  |  | **18087397** |
| **Texas — 9.6%** | **Texas — 9.6%** | **Texas — 9.6%** | **Texas — 9.6%** | **Texas — 9.6%** |
| Arlington Higher Education Finance Corp., Revenue Bonds (BASIS Texas Charter <br> Schools)<sup>(a)</sup> <br>| 4.50 | 6/15/2044 | 830000 | 727782 |
| Arlington Higher Education Finance Corp., Revenue Bonds (BASIS Texas Charter <br> Schools)<sup>(a)</sup> <br>| 4.75 | 6/15/2049 | 915000 | 795515 |
| Arlington Higher Education Finance Corp., Revenue Bonds (BASIS Texas Charter <br> Schools)<sup>(a)</sup> <br>| 4.88 | 6/15/2054 | 1050000 | 908550 |
| Arlington Higher Education Finance Corp., Revenue Bonds (BASIS Texas Charter <br> Schools)<sup>(a)</sup> <br>| 4.88 | 6/15/2059 | 1000000 | 850552 |
| Arlington Higher Education Finance Corp., Revenue Bonds (BASIS Texas Charter <br> Schools)<sup>(a)</sup> <br>| 5.00 | 6/15/2064 | 1200000 | 1020094 |
| Arlington Higher Education Finance Corp., Revenue Bonds (Harmony Public <br> Schools) (Insured; Permanent School Fund Guarantee Program)<br>| 4.00 | 2/15/2049 | 6000000 | 5156865 |
| Arlington Higher Education Finance Corp., Revenue Bonds (Insured; Permanent <br> School Fund Guarantee Program)<br>| 4.50 | 8/15/2050 | 3600000 | 3329372 |
| Arlington Higher Education Finance Corp., Revenue Bonds, Ser. A | 5.00 | 8/15/2038 | 1000000 | 944287 |
| Arlington Higher Education Finance Corp., Revenue Bonds, Ser. A | 5.00 | 8/15/2048 | 1900000 | 1649045 |
| Arlington Higher Education Finance Corp., Revenue Bonds, Ser. A | 5.00 | 8/15/2053 | 925000 | 785098 |

---

**53**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Texas — 9.6% (continued)** | **Texas — 9.6% (continued)** | **Texas — 9.6% (continued)** | **Texas — 9.6% (continued)** | **Texas — 9.6% (continued)** |
| Arlington Higher Education Finance Corp., Revenue Bonds, Refunding (Uplift <br> Education) Ser. A<br>| 5.00 | 12/1/2036 | 1315000 | 1319303 |
| Arlington Higher Education Finance Corp., Revenue Bonds, Refunding (Uplift <br> Education) Ser. A<br>| 5.00 | 12/1/2046 | 1100000 | 1021628 |
| Arlington Higher Education Finance Corp., Revenue Bonds, Refunding, Ser. A | 4.00 | 8/15/2036 | 330000 | 296298 |
| Arlington Higher Education Finance Corp., Revenue Bonds, Refunding, Ser. A | 4.00 | 8/15/2041 | 610000 | 497378 |
| Arlington Higher Education Finance Corp., Revenue Bonds, Refunding, Ser. A | 4.00 | 8/15/2046 | 860000 | 662040 |
| Austin Airport System, Revenue Bonds, Ser. A | 5.00 | 11/15/2046 | 13120000 | 13075277 |
| Bexar County Health Facilities Development Corp., Revenue Bonds, Refunding <br> (Army Retirement Residence Foundation)<br>| 5.00 | 7/15/2041 | 1750000 | 1581472 |
| Central Texas Regional Mobility Authority, Revenue Bonds, Ser. E | 5.00 | 1/1/2045 | 1250000 | 1253798 |
| Central Texas Turnpike System, Revenue Bonds, Refunding (Second Tier) Ser. C | 5.00 | 8/15/2040 | 1000000 | 1049397 |
| Clifton Higher Education Finance Corp., Revenue Bonds (International Leadership <br> of Texas) (Insured; Permanent School Fund Guarantee Program)<br>| 5.00 | 8/15/2047 | 4305000 | 4284266 |
| Clifton Higher Education Finance Corp., Revenue Bonds, Refunding (Insured; <br> Permanent School Fund Guarantee Program)<br>| 4.00 | 8/15/2044 | 5000000 | 4472005 |
| Clifton Higher Education Finance Corp., Revenue Bonds, Refunding (Insured; <br> Permanent School Fund Guarantee Program)<br>| 4.00 | 8/15/2049 | 2000000 | 1715244 |
| Clifton Higher Education Finance Corp., Revenue Bonds, Refunding (International <br> Leadership of Texas, Inc.) (Insured; Permanent School Fund Guarantee Program) <br> Ser. A<br>| 5.25 | 2/15/2049 | 1750000 | 1788680 |
| Collin County, GO | 5.00 | 2/15/2040 | 5000000 | 5244562 |
| Columbia-Brazoria Independent School District, GO (Insured; Permanent School <br> Fund Guarantee Program)<br>| 5.00 | 2/1/2044 | 2025000 | 2063977 |
| Dallas Fort Worth International Airport, Revenue Bonds, Refunding, Ser. B | 5.00 | 11/1/2047 | 3625000 | 3649413 |
| Dallas Independent School District, GO, Refunding (Insured; Permanent School Fund <br> Guarantee Program) Ser. B<br>| 4.50 | 2/15/2045 | 3000000 | 2937772 |
| Danbury Higher Education Authority, Revenue Bonds, Ser. A | 4.00 | 8/15/2049 | 2290000 | 1623477 |
| Danbury Higher Education Authority, Revenue Bonds, Ser. A | 5.00 | 8/15/2039 | 2000000 | 1769391 |
| Fort Bend Independent School District, GO, Refunding (Insured; Permanent School <br> Fund Guarantee Program) Ser. A<br>| 4.25 | 8/15/2054 | 6300000 | 5555620 |
| Frenship Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 5.00 | 2/15/2055 | 1500000 | 1516868 |
| Grand Parkway Transportation Corp., Revenue Bonds, Ser. A | 5.00 | 10/1/2043 | 5000000 | 5053577 |
| Grand Parkway Transportation Corp., Revenue Bonds, Ser. B | 5.40 | 10/1/2033 | 2500000 | 2662579 |
| Grand Parkway Transportation Corp., Revenue Bonds, Ser. B | 5.45 | 10/1/2034 | 2235000 | 2374402 |
| Grand Parkway Transportation Corp., Revenue Bonds, Refunding | 4.00 | 10/1/2049 | 5000000 | 4228557 |
| Harris County Cultural Education Facilities Finance Corp., Revenue Bonds, <br> Refunding (Texas Children's Hospital Obligated Group)<br>| 3.00 | 10/1/2051 | 5000000 | 3385955 |
| Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 4.00 | 12/1/2039 | 900000 | 829422 |
| Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 4.00 | 12/1/2040 | 1000000 | 902239 |
| Hidalgo County Regional Mobility Authority, Revenue Bonds, Ser. A | 4.00 | 12/1/2041 | 750000 | 662303 |
| Houston, GO, Refunding, Ser. A | 5.00 | 3/1/2040 | 3000000 | 3157498 |
| Houston, GO, Refunding, Ser. A | 5.00 | 3/1/2042 | 4000000 | 4134908 |
| Houston, GO, Refunding, Ser. A | 5.25 | 3/1/2049 | 5000000 | 5103815 |
| Houston Airport System, Revenue Bonds, (United Airlines) | 4.00 | 7/15/2041 | 2250000 | 1932095 |
| Houston Airport System, Revenue Bonds, (United Airlines) Ser. B | 5.50 | 7/15/2039 | 1750000 | 1818199 |
| Houston Airport System, Revenue Bonds, Refunding (United Airlines) | 5.00 | 7/15/2027 | 1000000 | 1014075 |
| Houston Airport System, Revenue Bonds, Refunding (United Airlines) Ser. C | 5.00 | 7/15/2027 | 1000000 | 1014075 |
| Lower Colorado River Authority, Revenue Bonds, Refunding | 5.00 | 5/15/2042 | 1350000 | 1389022 |
| Lower Colorado River Authority, Revenue Bonds, Refunding | 5.00 | 5/15/2044 | 1000000 | 1017099 |

---

**54**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Texas — 9.6% (continued)** | **Texas — 9.6% (continued)** | **Texas — 9.6% (continued)** | **Texas — 9.6% (continued)** | **Texas — 9.6% (continued)** |
| Lower Colorado River Authority, Revenue Bonds, Refunding (LCRA Transmission <br> Services Corp.) (Insured; Build America Mutual)<br>| 5.00 | 5/15/2055 | 5350000 | 5357107 |
| Mission Economic Development Corp., Revenue Bonds, Refunding (Natgasoline <br> Project)<sup>(a)</sup> <br>| 4.63 | 10/1/2031 | 3250000 | 3246612 |
| New Hope Cultural Education Facilities Finance Corp., Revenue Bonds (Sanctuary <br> LTC Project) Ser. A1<br>| 5.25 | 1/1/2042 | 5000000 | 4544749 |
| Permanent University Fund - University of Texas System, Revenue Bonds, <br> Refunding, Ser. A<br>| 5.00 | 7/1/2041 | 10300000 | 10807949 |
| Port of Beaumont Navigation District, Revenue Bonds, Refunding (Jefferson Gulf <br> Coast Energy) Ser. B<sup>(a)</sup> <br>| 10.00 | 7/1/2026 | 5000000 | 5030683 |
| Pottsboro Higher Education Finance Corp., Revenue Bonds, Ser. A | 5.00 | 8/15/2046 | 1000000 | 876885 |
| Temple Independent School District, GO (Insured; Permanent School Fund <br> Guarantee Program)<br>| 5.00 | 2/1/2044 | 3005000 | 3090289 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds (NTE <br> Mobility Partners LLC North Tarrant Express Project)<br>| 5.50 | 12/31/2058 | 7500000 | 7559187 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, <br> Refunding (LBJ Infrastructure Group)<br>| 4.00 | 12/31/2036 | 5810000 | 5592651 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, <br> Refunding (LBJ Infrastructure Group)<br>| 4.00 | 6/30/2037 | 3985000 | 3805016 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, <br> Refunding (LBJ Infrastructure Group)<br>| 4.00 | 6/30/2039 | 1500000 | 1381655 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, <br> Refunding (LBJ Infrastructure Group)<br>| 4.00 | 12/31/2039 | 1600000 | 1461658 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, <br> Refunding (LBJ Infrastructure Group)<br>| 4.00 | 6/30/2040 | 1500000 | 1356116 |
| Texas Public Finance Authority, Revenue Bonds (Texas Southern University) <br> (Insured; Build America Mutual)<br>| 5.25 | 5/1/2039 | 300000 | 311673 |
| Texas Public Finance Authority, Revenue Bonds (Texas Southern University) <br> (Insured; Build America Mutual)<br>| 5.25 | 5/1/2040 | 520000 | 537030 |
| Texas Public Finance Authority, Revenue Bonds (Texas Southern University) <br> (Insured; Build America Mutual)<br>| 5.25 | 5/1/2041 | 1000000 | 1025316 |
| Texas Water Development Board, Revenue Bonds | 5.00 | 8/1/2044 | 5600000 | 5768907 |
| Texas Water Development Board, Revenue Bonds (Master Trust) | 5.00 | 10/15/2057 | 3565000 | 3590287 |
| University of Texas System Board of Regents, Revenue Bonds, Refunding, Ser. A | 5.00 | 8/15/2043 | 5000000 | 5161398 |
|  |  |  |  | **184730014** |
| **U.S. Related — 5.5%** | **U.S. Related — 5.5%** | **U.S. Related — 5.5%** | **U.S. Related — 5.5%** | **U.S. Related — 5.5%** |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.00 | 10/1/2032 | 500000 | 527764 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.00 | 10/1/2034 | 100000 | 104954 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.25 | 10/1/2035 | 100000 | 106017 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.25 | 10/1/2037 | 175000 | 183012 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.25 | 10/1/2038 | 100000 | 103880 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.25 | 10/1/2039 | 100000 | 103307 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.25 | 10/1/2040 | 100000 | 102816 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. A | 5.25 | 10/1/2041 | 100000 | 101978 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2040 | 100000 | 103523 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2041 | 150000 | 153445 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2042 | 100000 | 101391 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2043 | 100000 | 100829 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Refunding | 5.00 | 10/1/2028 | 940000 | 972871 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Refunding | 5.25 | 10/1/2031 | 1515000 | 1622670 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Refunding | 5.25 | 10/1/2035 | 265000 | 279483 |

---

**55**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **U.S. Related — 5.5% (continued)** | **U.S. Related — 5.5% (continued)** | **U.S. Related — 5.5% (continued)** | **U.S. Related — 5.5% (continued)** | **U.S. Related — 5.5% (continued)** |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Refunding | 5.25 | 10/1/2036 | 685000 | 716283 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Refunding | 5.38 | 10/1/2033 | 1000000 | 1079568 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Refunding | 5.38 | 10/1/2040 | 525000 | 541378 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Refunding | 5.38 | 10/1/2043 | 1250000 | 1266251 |
| Guam, Revenue Bonds, Refunding, Ser. A | 5.00 | 12/1/2046 | 1500000 | 1473585 |
| Guam, Revenue Bonds, Refunding, Ser. F | 4.00 | 1/1/2036 | 1750000 | 1725152 |
| Guam, Revenue Bonds, Refunding, Ser. F | 4.00 | 1/1/2042 | 2250000 | 1998456 |
| Guam Government Waterworks Authority, Revenue Bonds, Ser. A | 5.00 | 1/1/2050 | 2000000 | 1908412 |
| Guam Power Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 10/1/2033 | 1000000 | 1099894 |
| Matching Fund Special Purpose Securitization Corp., Revenue Bonds, Refunding, <br> Ser. A<br>| 5.00 | 10/1/2030 | 3000000 | 3094369 |
| Matching Fund Special Purpose Securitization Corp., Revenue Bonds, Refunding, <br> Ser. A<br>| 5.00 | 10/1/2032 | 2090000 | 2147974 |
| Matching Fund Special Purpose Securitization Corp., Revenue Bonds, Refunding, <br> Ser. A<br>| 5.00 | 10/1/2039 | 8000000 | 7970942 |
| Puerto Rico, GO, Ser. A<sup>(d)</sup> <br>| 0.00 | 7/1/2033 | 1034664 | 724557 |
| Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2033 | 803995 | 786631 |
| Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2035 | 722684 | 692963 |
| Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2037 | 620253 | 576124 |
| Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2041 | 843308 | 734262 |
| Puerto Rico, GO, Ser. A1 | 4.00 | 7/1/2046 | 877029 | 724857 |
| Puerto Rico, GO, Ser. A1 | 5.63 | 7/1/2027 | 887317 | 917699 |
| Puerto Rico, GO, Ser. A1 | 5.63 | 7/1/2029 | 872922 | 930331 |
| Puerto Rico, GO, Ser. A1 | 5.75 | 7/1/2031 | 847862 | 930459 |
| Puerto Rico, Notes<sup>(f)</sup> <br>| 2.28 | 11/1/2051 | 6730921 | 3727247 |
| Puerto Rico, Notes<sup>(f)</sup> <br>| 2.96 | 11/1/2051 | 305004 | 198252 |
| Puerto Rico, Notes, Ser. CW<sup>(f)</sup> <br>| 2.63 | 11/1/2043 | 3320542 | 2087791 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds, <br> Refunding, Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2030 | 15000000 | 15703934 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds, <br> Refunding, Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2035 | 5000000 | 5157029 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds, <br> Refunding, Ser. A<sup>(a)</sup> <br>| 5.00 | 7/1/2047 | 7500000 | 7016127 |
| Puerto Rico Electric Power Authority, Revenue Bonds, Ser. A<sup>(h)</sup> <br>| 6.75 | 7/1/2036 | 10000000 | 6637500 |
| Puerto Rico Electric Power Authority, Revenue Bonds, Refunding, Ser. DDD<sup>(h)</sup> <br>| 5.00 | 7/1/2022 | 2000000 | 1322500 |
| Puerto Rico GDB Debt Recovery Authority, Revenue Bonds | 7.50 | 8/20/2040 | 2617597 | 2527521 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A1<sup>(d)</sup> <br>| 0.00 | 7/1/2027 | 283000 | 266539 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A1<sup>(d)</sup> <br>| 0.00 | 7/1/2029 | 387000 | 339811 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A1<sup>(d)</sup> <br>| 0.00 | 7/1/2031 | 498000 | 400627 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A1<sup>(d)</sup> <br>| 0.00 | 7/1/2033 | 561000 | 410861 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A1<sup>(d)</sup> <br>| 0.00 | 7/1/2046 | 5340000 | 1687747 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A1<sup>(d)</sup> <br>| 0.00 | 7/1/2051 | 4350000 | 1015358 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A1 | 4.50 | 7/1/2034 | 4311000 | 4310808 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A1 | 4.55 | 7/1/2040 | 208000 | 198510 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A1 | 4.75 | 7/1/2053 | 1526000 | 1370391 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A1 | 5.00 | 7/1/2058 | 8783000 | 8056279 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A2 | 4.33 | 7/1/2040 | 2112000 | 1958758 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A2 | 4.54 | 7/1/2053 | 63000 | 54338 |
| Puerto Rico Sales Tax Financing Corp., Revenue Bonds, Ser. A2 | 4.78 | 7/1/2058 | 847000 | 748262 |

---

**56**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **U.S. Related — 5.5% (continued)** | **U.S. Related — 5.5% (continued)** | **U.S. Related — 5.5% (continued)** | **U.S. Related — 5.5% (continued)** | **U.S. Related — 5.5% (continued)** |
| Virgin Islands Public Finance Authority, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 5.00 | 10/1/2029 | 2250000 | 2250752 |
| Virgin Islands Public Finance Authority, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 5.00 | 10/1/2034 | 1500000 | 1484450 |
|  |  |  |  | **105639479** |
| **Utah — 2.8%** | **Utah — 2.8%** | **Utah — 2.8%** | **Utah — 2.8%** | **Utah — 2.8%** |
| Intermountain Power Agency, Revenue Bonds, Ser. A | 5.00 | 7/1/2042 | 15000000 | 15268486 |
| Mida Cormont Public Infrastructure District, GO, Ser. A1<sup>(a)</sup> <br>| 6.25 | 6/1/2055 | 2225000 | 2267832 |
| Mida Cormont Public Infrastructure District, GO, Ser. A2<sup>(a),(i)</sup> <br>| 6.75 | 6/1/2055 | 5000000 | 4087260 |
| Mida Mountain Veterans Program Public Infrastructure District, Tax Allocation <br> Bonds<sup>(a)</sup> <br>| 5.00 | 6/1/2044 | 1315000 | 1250229 |
| Mida Mountain Veterans Program Public Infrastructure District, Tax Allocation <br> Bonds<sup>(a)</sup> <br>| 5.20 | 6/1/2054 | 4250000 | 3907812 |
| Mida Mountain Village Public Infrastructure District, Special Assessment Bonds<sup>(a)</sup> <br>| 4.00 | 8/1/2030 | 900000 | 903637 |
| Mida Mountain Village Public Infrastructure District, Special Assessment Bonds<sup>(a)</sup> <br>| 4.00 | 8/1/2050 | 1800000 | 1438018 |
| Mida Mountain Village Public Infrastructure District, Tax Allocation Bonds, Ser. 1<sup>(a)</sup> <br>| 5.13 | 6/15/2054 | 1000000 | 918085 |
| Mida Mountain Village Public Infrastructure District, Tax Allocation Bonds, Ser. 2<sup>(a)</sup> <br>| 5.50 | 6/15/2039 | 1000000 | 989523 |
| Mida Mountain Village Public Infrastructure District, Tax Allocation Bonds, Ser. 2<sup>(a)</sup> <br>| 5.75 | 6/15/2044 | 1000000 | 984731 |
| Mida Mountain Village Public Infrastructure District, Tax Allocation Bonds, Ser. 2<sup>(a)</sup> <br>| 6.00 | 6/15/2054 | 4300000 | 4271984 |
| Military Installation Development Authority, Revenue Bonds, Ser. A1 | 4.00 | 6/1/2036 | 1000000 | 927697 |
| Military Installation Development Authority, Revenue Bonds, Ser. A1 | 4.00 | 6/1/2041 | 2025000 | 1744969 |
| Military Installation Development Authority, Revenue Bonds, Ser. A1 | 4.00 | 6/1/2052 | 2000000 | 1555408 |
| Military Installation Development Authority, Revenue Bonds, Ser. A2 | 4.00 | 6/1/2052 | 2250000 | 1729299 |
| Point Phase 1 Public Infrastructure District No. 1, Revenue Bonds, Ser. A1 | 5.88 | 3/1/2045 | 1000000 | 1001509 |
| Point Phase 1 Public Infrastructure District No. 1, Revenue Bonds, Ser. A1 | 6.13 | 3/1/2055 | 5000000 | 5056049 |
| Utah Charter School Finance Authority, Revenue Bonds, Refunding (Summit <br> Academy) Ser. A<br>| 5.00 | 4/15/2044 | 625000 | 621116 |
| Utah Charter School Finance Authority, Revenue Bonds, Refunding (Summit <br> Academy) Ser. A<br>| 5.00 | 4/15/2049 | 1150000 | 1109760 |
| Wolf Creek Infrastructure Financing District No 1, Special Assessment Bonds | 5.75 | 12/1/2044 | 3665000 | 3628355 |
|  |  |  |  | **53661759** |
| **Virginia — 2.1%** | **Virginia — 2.1%** | **Virginia — 2.1%** | **Virginia — 2.1%** | **Virginia — 2.1%** |
| Arlington County Industrial Development Authority, Revenue Bonds, Refunding <br> (Virginia Hospital Center)<br>| 4.00 | 7/1/2045 | 5000000 | 4431057 |
| Chesapeake Expressway, Revenue Bonds, Refunding, Ser. B | 4.88 | 7/15/2040 | 2000000 | 2014940 |
| Fairfax County, Revenue Bonds, Ser. A | 5.00 | 7/15/2054 | 1950000 | 1985107 |
| Virginia College Building Authority, Revenue Bonds (21st Century College) | 5.25 | 2/1/2042 | 6105000 | 6478735 |
| Virginia Port Authority Commonwealth Port Fund, Revenue Bonds, Ser. A | 5.00 | 7/1/2043 | 6550000 | 6783948 |
| Virginia Small Business Financing Authority, Revenue Bonds (Transform <br> 66 P3 Project)<br>| 5.00 | 12/31/2049 | 4500000 | 4251680 |
| Virginia Small Business Financing Authority, Revenue Bonds (Transform <br> 66 P3 Project)<br>| 5.00 | 12/31/2052 | 4000000 | 3735837 |
| Virginia Small Business Financing Authority, Revenue Bonds, Refunding (Elizabeth <br> River Crossings OpCo)<br>| 4.00 | 1/1/2040 | 1000000 | 909184 |
| Virginia Small Business Financing Authority, Revenue Bonds, Refunding (National <br> Senior Campuses Obligated Group) Ser. A<br>| 4.00 | 1/1/2036 | 2500000 | 2457658 |
| Virginia Small Business Financing Authority, Revenue Bonds, Refunding (National <br> Senior Campuses Obligated Group) Ser. A<br>| 4.00 | 1/1/2045 | 3000000 | 2538294 |
| Virginia Small Business Financing Authority, Revenue Bonds, Refunding (National <br> Senior Campuses Obligated Group) Ser. A<br>| 4.00 | 1/1/2051 | 2750000 | 2209951 |
| Virginia Small Business Financing Authority, Revenue Bonds, Refunding <br> (95 Express Lanes)<br>| 4.00 | 1/1/2048 | 3500000 | 2866466 |
|  |  |  |  | **40662857** |

---

**57**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Washington — 1.2%** | **Washington — 1.2%** | **Washington — 1.2%** | **Washington — 1.2%** | **Washington — 1.2%** |
| Central Puget Sound Regional Transit Authority, Revenue Bonds, Refunding <br> (Sustainable Bond) Ser. S1<br>| 3.00 | 11/1/2036 | 5000000 | 4549057 |
| Tacoma Electric System, Revenue Bonds, Refunding (Sustainable Bond) Ser. A | 5.00 | 1/1/2054 | 2500000 | 2523766 |
| Washington, GO, Ser. A | 5.00 | 8/1/2040 | 10000000 | 10589176 |
| Washington Health Care Facilities Authority, Revenue Bonds, Refunding (Seattle <br> Cancer Care Alliance)<sup>(a)</sup> <br>| 4.00 | 12/1/2048 | 1000000 | 839566 |
| Washington Health Care Facilities Authority, Revenue Bonds, Refunding (Seattle <br> Cancer Care Alliance)<br>| 4.00 | 9/1/2050 | 1000000 | 832793 |
| Washington Health Care Facilities Authority, Revenue Bonds, Refunding (Seattle <br> Cancer Care Alliance)<br>| 5.00 | 9/1/2050 | 1500000 | 1449526 |
| Washington Housing Finance Commission, Revenue Bonds (Sustainable Bond) <br> (Insured; GNMA/FNMA/FHLMC) Ser. 2N<br>| 4.80 | 12/1/2043 | 2000000 | 1957792 |
| Washington Housing Finance Commission, Revenue Bonds, Refunding (Seattle <br> Academy of Arts)<sup>(a)</sup> <br>| 6.13 | 7/1/2053 | 1000000 | 1050358 |
|  |  |  |  | **23792034** |
| **West Virginia — .2%** | **West Virginia — .2%** | **West Virginia — .2%** | **West Virginia — .2%** | **West Virginia — .2%** |
| West Virginia Hospital Finance Authority, Revenue Bonds, Refunding (Charleston <br> Area Medical Center)<br>| 5.00 | 9/1/2038 | 1500000 | 1512502 |
| West Virginia Hospital Finance Authority, Revenue Bonds, Refunding (Charleston <br> Area Medical Center)<br>| 5.00 | 9/1/2039 | 1450000 | 1455435 |
|  |  |  |  | **2967937** |
| **Wisconsin — 3.0%** | **Wisconsin — 3.0%** | **Wisconsin — 3.0%** | **Wisconsin — 3.0%** | **Wisconsin — 3.0%** |
| Public Finance Authority, Revenue Bonds (Georgia SR 400 Express Lanes Project) | 5.75 | 6/30/2060 | 5750000 | 5639275 |
| Public Finance Authority, Revenue Bonds (Georgia SR 400 Express Lanes Project) | 5.75 | 12/31/2065 | 5000000 | 4892164 |
| Public Finance Authority, Revenue Bonds (Georgia SR 400 Express Lanes Project) | 6.50 | 6/30/2060 | 3500000 | 3702735 |
| Public Finance Authority, Revenue Bonds (Georgia SR 400 Express Lanes Project) | 6.50 | 12/31/2065 | 5000000 | 5262734 |
| Public Finance Authority, Revenue Bonds (Maryland Proton Treatment Center) Ser. <br> A1<sup>(a),(h)</sup> <br>| 6.38 | 1/1/2048 | 2500000 | 1125000 |
| Public Finance Authority, Revenue Bonds (Piedmont Community Charter School) | 5.00 | 6/15/2049 | 3440000 | 3165970 |
| Public Finance Authority, Revenue Bonds (Piedmont Community Charter School) | 5.00 | 6/15/2053 | 1000000 | 905628 |
| Public Finance Authority, Revenue Bonds (Sky Harbour Capital Obligated Group) | 4.25 | 7/1/2054 | 2500000 | 1925925 |
| Public Finance Authority, Revenue Bonds, Ser. A | 5.00 | 2/1/2062 | 2500000 | 2304142 |
| Public Finance Authority, Revenue Bonds, Ser. A | 5.50 | 7/1/2044 | 4000000 | 3940688 |
| Public Finance Authority, Revenue Bonds, Refunding | 5.25 | 6/15/2045 | 1700000 | 1623457 |
| Public Finance Authority, Revenue Bonds, Refunding (Friends Homes Obligated <br> Group)<sup>(a)</sup> <br>| 5.00 | 9/1/2039 | 2230000 | 2186986 |
| Public Finance Authority, Revenue Bonds, Refunding (Kahala Nui Project) | 5.25 | 11/15/2055 | 1750000 | 1713532 |
| Public Finance Authority, Revenue Bonds, Refunding (Kahala Nui Project) | 5.25 | 11/15/2061 | 1050000 | 1016888 |
| Public Finance Authority, Revenue Bonds, Refunding (Nevada State College) Ser. <br> A<sup>(a)</sup> <br>| 5.00 | 5/1/2060 | 3925000 | 2466124 |
| Public Finance Authority, Revenue Bonds, Refunding (Nevada State College) Ser. <br> B<sup>(a)</sup> <br>| 9.00 | 5/1/2071 | 1815000 | 880168 |
| Public Finance Authority, Revenue Bonds, Refunding (Renown Regional Medical <br> Center)<br>| 4.00 | 6/1/2045 | 6515000 | 5651070 |
| Public Finance Authority, Revenue Bonds, Refunding (Triad Educational Services) | 5.50 | 6/15/2055 | 1250000 | 1202144 |
| Wisconsin Center District, Revenue Bonds (Insured; Assured Guaranty Corp.) Ser. <br> A<sup>(d)</sup> <br>| 0.00 | 12/15/2044 | 8735000 | 3312462 |

---

**58**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** | **BNY Mellon Municipal Opportunities Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** | **Long-Term Municipal Investments — 101.1% (continued)** |
| **Wisconsin — 3.0% (continued)** | **Wisconsin — 3.0% (continued)** | **Wisconsin — 3.0% (continued)** | **Wisconsin — 3.0% (continued)** | **Wisconsin — 3.0% (continued)** |
| Wisconsin Center District, Revenue Bonds (Insured; Assured Guaranty Corp.) Ser. <br> A<sup>(d)</sup> <br>| 0.00 | 12/15/2046 | 3990000 | 1341806 |
| Wisconsin Health & Educational Facilities Authority, Revenue Bonds, Refunding <br> (Marshfield Clinic Health System Obligated Group) Ser. C<br>| 5.00 | 2/15/2047 | 4500000 | 4437022 |
|  |  |  |  | **58695920** |
| **Total Long-Term Municipal Investments** <br>(cost $2,078,720,754)<br>|  |  |  | **1952441078** |
| **Total Investments** (cost $2,083,720,754) | **Total Investments** (cost $2,083,720,754) |  | **101.3%** | **1955831262** |
| **Liabilities, Less Cash and Receivables** | **Liabilities, Less Cash and Receivables** |  | **(1.3%)** | **(25068484)** |
| **Net Assets**  | **Net Assets**  | **Net Assets**  | **100.0%** | **1930762778** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| COP—Certificate of Participation |
| FHLMC—Federal Home Loan Mortgage Corporation |
| FNMA—Federal National Mortgage Association |
| GNMA—Government National Mortgage Association |
| GO—Government Obligation |
| LOC—Letter of Credit |
| TSFR—Term Secured Overnight Financing Rate Reference Rates |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> 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 August 31, 2025, these securities amounted to $327,736,826 or 17.0% of net assets. 

<sup>(b)</sup> These securities have a put feature; the date shown represents the put date and the bond holder can take a specific action to retain the bond after the put date.

<sup>(c)</sup> These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire the bonds in full at the earliest refunding date. 

<sup>(d)</sup> Security issued with a zero coupon. Income is recognized through the accretion of discount.

<sup>(e)</sup> Variable rate security—Interest rate resets periodically and the rate shown is the interest rate in effect at period end. Security description also includes the reference rate and spread if published and available. 

<sup>(f)</sup> The Variable Rate is determined by the Remarketing Agent in its sole discretion based on prevailing market conditions and may, but need not, be established by reference to one or more financial indices. 

<sup>(g)</sup> Collateral for floating rate borrowings. The coupon rate given represents the current interest rate for the inverse floating rate security.

<sup>(h)</sup> Non-income producing—security in default.

<sup>(i)</sup> Zero coupon until a specified date at which time the stated coupon rate becomes effective until maturity.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** |
| **Futures** | **Futures** | **Futures** | **Futures** | **Futures** | **Futures** |
| Description | Number of <br>Contracts<br>| Expiration | Notional <br>Value ($)<br>| Market <br>Value ($)<br>| Unrealized <br>(Depreciation) ($)<br>|
| **Futures Short** |  |  |  |  |  |
| U.S. Treasury Long-Term Bond | &nbsp;&nbsp; 125 | &nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp; 14241950 | &nbsp;&nbsp; 14281251 | &nbsp;&nbsp; (39301) |
| Ultra 10 Year U.S. Treasury Note | &nbsp;&nbsp; 381 | &nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp; 43510665 | &nbsp;&nbsp; 43588782 | &nbsp;&nbsp; (78117) |
| Ultra U.S. Treasury Bond | &nbsp;&nbsp; 838 | &nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp; 97417383 | &nbsp;&nbsp; 97679375 | &nbsp;&nbsp; (261992) |
| **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** |  |  | **(379410)** |

---

See notes to financial statements.

**59**

------

STATEMENTS OF ASSETS AND LIABILITIES

August 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon <br>National <br>Intermediate <br>Municipal <br>Bond Fund<br>| BNY Mellon <br>National <br>Short-Term <br>Municipal <br>Bond Fund<br>| BNY Mellon <br>Massachusetts <br>Intermediate <br>Municipal <br>Bond Fund<br>| BNY Mellon <br>Municipal <br>Opportunities <br>Fund<br>|
| **Assets ($):** |  |  |  |  |
| Investments in securities—See Schedules of Investments<sup>†</sup> <br>| 1749204056 | 511627722 | 120294090 | 1955831262 |
| Cash collateral held by broker—Note 4  | 221450 | - | - | 5749750 |
| Interest receivable | 19763605 | 5028875 | 1363668 | 23585959 |
| Receivable for shares of Beneficial Interest subscribed | 1418906 | 967665 | 25000 | 1180941 |
| Receivable for futures variation margin—Note 4  | 37625 | - | - | 869049 |
| Prepaid expenses | 33299 | 30068 | 21004 | 35242 |
|  | **1770678941** | **517654330** | **121703762** | **1987252203** |
| **Liabilities ($):** |  |  |  |  |
| Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(b)  | 765080 | 183694 | 62355 | 1094156 |
| Cash overdraft due to Custodian | 3798668 | 948454 | 206320 | 4843958 |
| Payable for investment securities purchased | 3425525 | 3619866 | - | - |
| Payable for shares of Beneficial Interest redeemed | 2601568 | 1519339 | 6631 | 4488077 |
| Trustees' fees and expenses payable | 43000 | 18110 | 5030 | 79380 |
| Payable for inverse floater notes issued—Note 4  | - | - | - | 45385000 |
| Interest and expense payable related to inverse floater notes <br> issued—Note 4 <br>| - | - | - | 496042 |
| Other accrued expenses | 69302 | 40074 | 32225 | 102812 |
|  | **10703143** | **6329537** | **312561** | **56489425** |
| **Net Assets ($)** | **1759975798** | **511324793** | **121391201** | **1930762778** |
| **Composition of Net Assets ($):** |  |  |  |  |
| Paid-in capital | 1856649658 | 523613032 | 133372636 | 2124490494 |
| Total distributable earnings (loss) | (96673860) | (12288239) | (11981435) | (193727716) |
| **Net Assets ($)** | **1759975798** | **511324793** | **121391201** | **1930762778** |
| <sup>†</sup>**Investments at cost ($)** | **1776530980** | **507610853** | **124566036** | **2083720754** |
| **Net Asset Value Per Share** |  |  |  |  |
| **Class M Shares** |  |  |  |  |
| Net Assets ($) | 1698618218 | 500392271 | 113742811 | 1874321240 |
| Shares Outstanding | 131625940 | 39101063 | 9324541 | 155700517 |
| **Net Asset Value Per Share ($)** | **12.90** | **12.80** | **12.20** | **12.04** |
| **Investor Shares** |  |  |  |  |
| Net Assets ($) | 61357580 | 10932522 | 7648390 | 56441538 |
| Shares Outstanding | 4760645 | 854874 | 627372 | 4687277 |
| **Net Asset Value Per Share ($)** | **12.89** | **12.79** | **12.19** | **12.04** |

---

See notes to financial statements.

**60**

------

STATEMENTS OF OPERATIONS

Year Ended August 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon <br>National <br>Intermediate <br>Municipal <br>Bond Fund<br>| BNY Mellon <br>National <br>Short-Term <br>Municipal <br>Bond Fund<br>| BNY Mellon <br>Massachusetts <br>Intermediate <br>Municipal <br>Bond Fund<br>| BNY Mellon <br>Municipal <br>Opportunities <br>Fund<br>|
| **Investment Income ($):** |  |  |  |  |
| **Interest Income** | **58826107** | **12517796** | **4083024** | **89647449** |
| **Expenses:** |  |  |  |  |
| Management fee—Note 3(a)  | 6035981 | 1405917 | 463502 | 10408075 |
| Administration fee—Note 3(a)  | 2427209 | 565920 | 186323 | 2929729 |
| Trustees' fees and expenses—Note 3(c)  | 268615 | 64473 | 20190 | 337697 |
| Shareholder servicing costs—Note 3(b)  | 162658 | 29694 | 19225 | 160175 |
| Professional fees | 127689 | 55397 | 46850 | 126163 |
| Registration fees | 60214 | 43367 | 32514 | 61774 |
| Loan commitment fees—Note 2 | 40172 | 7966 | 2818 | 48281 |
| Custodian fees—Note 3(b)  | 33759 | 10363 | 5476 | 35942 |
| Chief Compliance Officer fees—Note 3(b)  | 24051 | 23989 | 24051 | 24051 |
| Prospectus and shareholders' reports | 11276 | 8327 | 6835 | 14030 |
| Shareholder and regulatory reports service fees—Note 3(b)  | 7583 | 7583 | 7583 | 7583 |
| Interest and expense related to inverse floater notes issued—Note 4  | - | - | - | 889265 |
| Miscellaneous | 103126 | 42596 | 33748 | 143236 |
| **Total Expenses** | **9302333** | **2265592** | **849115** | **15186001** |
| Less—reduction in expenses due to undertaking—Note 3(a)  | - | (459168) | - | - |
| Less—reduction in fees due to earnings credits—Note 3(b)  | (30311) | (10505) | (5640) | (36285) |
| **Net Expenses** | **9272022** | **1795919** | **843475** | **15149716** |
| **Net Investment Income** | **49554085** | **10721877** | **3239549** | **74497733** |
| **Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):** |  |  |  |  |
| Net realized gain (loss) on investments | (7735807) | (461389) | (768399) | (22252934) |
| Net realized gain (loss) on futures | 674574 | - | - | 6976983 |
| Net realized gain (loss) on swap agreements | - | - | - | 150000 |
| **Net Realized Gain (Loss)** | **(7061233)** | **(461389)** | **(768399)** | **(15125951)** |
| Net change in unrealized appreciation (depreciation) on investments | (12350061) | 4865573 | (1009951) | (80885123) |
| Net change in unrealized appreciation (depreciation) on futures | (36206) | - | - | (638772) |
| **Net Change in Unrealized Appreciation (Depreciation)** | **(12386267)** | **4865573** | **(1009951)** | **(81523895)** |
| **Net Realized and Unrealized Gain (Loss) on Investments** | **(19447500)** | **4404184** | **(1778350)** | **(96649846)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | **30106585** | **15126061** | **1461199** | **(22152113)** |

---

See notes to financial statements.

**61**

------

STATEMENTS OF CHANGES IN NET ASSETS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon National Intermediate <br>Municipal Bond Fund | BNY Mellon National Intermediate <br>Municipal Bond Fund | BNY Mellon National Short-Term <br>Municipal Bond Fund | BNY Mellon National Short-Term <br>Municipal Bond Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Operations ($):** |  |  |  |  |
| Net investment income | 49554085 | 51027597 | 10721877 | 8786992 |
| Net realized gain (loss) on investments | (7061233) | (15214369) | (461389) | (4690563) |
| Net change in unrealized appreciation <br>(depreciation) on investments<br>| (12386267) | 64204019 | 4865573 | 13824545 |
| **Net Increase (Decrease) in Net Assets** <br>**Resulting from Operations**<br>| **30106585** | **100017247** | **15126061** | **17920974** |
| **Distributions ($):** |  |  |  |  |
| Distributions to shareholders: |  |  |  |  |
| Class M | (47465746) | (49319762) | (10289462) | (8385063) |
| Investor Shares | (1693268) | (1365862) | (280309) | (279509) |
| **Total Distributions** | **(49159014)** | **(50685624)** | **(10569771)** | **(8664572)** |
| **Beneficial Interest Transactions ($):** |  |  |  |  |
| Net proceeds from shares sold: |  |  |  |  |
| Class M | 527023967 | 728546490 | 302572648 | 129912413 |
| Investor Shares | 44657205 | 54387833 | 5736414 | 13075330 |
| Distributions reinvested: |  |  |  |  |
| Class M | 4438122 | 4743869 | 1136435 | 947372 |
| Investor Shares | 1291982 | 1155594 | 244943 | 242682 |
| Cost of shares redeemed: |  |  |  |  |
| Class M | (578457075) | (878557167) | (170435779) | (232032048) |
| Investor Shares | (47192518) | (43032475) | (8530307) | (16032176) |
| **Increase (Decrease) in Net Assets from Beneficial Interest** <br> **Transactions**<br>| **(48238317)** | **(132755856)** | **130724354** | **(103888427)** |
| **Total Increase (Decrease) in Net Assets** | **(67290746)** | **(83424233)** | **135280644** | **(94632025)** |
| **Net Assets ($):** |  |  |  |  |
| Beginning of Period | 1827266544 | 1910690777 | 376044149 | 470676174 |
| **End of Period** | **1759975798** | **1827266544** | **511324793** | **376044149** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See notes to financial statements.

**62**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon National Intermediate <br>Municipal Bond Fund | BNY Mellon National Intermediate <br>Municipal Bond Fund | BNY Mellon National Short-Term <br>Municipal Bond Fund | BNY Mellon National Short-Term <br>Municipal Bond Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Capital Share Transactions (Shares):** |  |  |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 41110202 | 56922461 | 23890687 | 10371916 |
| Shares issued for distributions reinvested | 343856 | 369498 | 89479 | 75620 |
| Shares redeemed | (44912556) | (68742705) | (13429042) | (18542947) |
| **Net Increase (Decrease) in Shares Outstanding** | **(3458498)** | **(11450746)** | **10551124** | **(8095411)** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 3456610 | 4240824 | 451840 | 1045104 |
| Shares issued for distributions reinvested | 100196 | 90009 | 19305 | 19378 |
| Shares redeemed | (3664127) | (3351523) | (673503) | (1281847) |
| **Net Increase (Decrease) in Shares Outstanding** | **(107321)** | **979310** | **(202358)** | **(217365)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended August 31, 2025, 3,362,791 Class M shares representing $43,503,988 were exchanged for 3,366,900 Investor Shares for BNY Mellon National Intermediate Municipal Bond Fund and 433,924 Class M shares representing $5,512,805 were exchanged for 434,223 Investor Shares for BNY Mellon National Short-Term Municipal Bond Fund. During the period ended August 31, 2024, 4,231,606 Class M shares representing $54,396,836 were exchanged for 4,236,432 Investor Shares for BNY Mellon National Intermediate Municipal Bond Fund and 1,155,760 Class M shares representing $14,467,118 were exchanged for 1,156,619 Investor Shares for BNY Mellon National Short-Term Municipal Bond Fund. 

See notes to financial statements.

**63**

------

STATEMENTS OF CHANGES IN NET ASSETS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Massachusetts Intermediate <br>Municipal Bond Fund | BNY Mellon Massachusetts Intermediate <br>Municipal Bond Fund | BNY Mellon Municipal <br>Opportunities Fund | BNY Mellon Municipal <br>Opportunities Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Operations ($):** |  |  |  |  |
| Net investment income | 3239549 | 4032934 | 74497733 | 66826488 |
| Net realized gain (loss) on investments | (768399) | (1268664) | (15125951) | (24023555) |
| Net change in unrealized appreciation <br>(depreciation) on investments<br>| (1009951) | 5849758 | (81523895) | 105874791 |
| **Net Increase (Decrease) in Net Assets** <br>**Resulting from Operations**<br>| **1461199** | **8614028** | **(22152113)** | **148677724** |
| **Distributions ($):** |  |  |  |  |
| Distributions to shareholders: |  |  |  |  |
| Class M | (3055183) | (3844478) | (71300503) | (64068396) |
| Investor Shares | (168574) | (162962) | (2098230) | (1920109) |
| **Total Distributions** | **(3223757)** | **(4007440)** | **(73398733)** | **(65988505)** |
| **Beneficial Interest Transactions ($):** |  |  |  |  |
| Net proceeds from shares sold: |  |  |  |  |
| Class M | 31555394 | 74845375 | 543785119 | 783519158 |
| Investor Shares | 3447924 | 5386789 | 41258878 | 60172557 |
| Distributions reinvested: |  |  |  |  |
| Class M | 224791 | 430328 | 13493982 | 13301498 |
| Investor Shares | 126752 | 127278 | 1728922 | 1665554 |
| Cost of shares redeemed: |  |  |  |  |
| Class M | (56759509) | (112255223) | (613872746) | (770144021) |
| Investor Shares | (3675164) | (5479174) | (53803725) | (47292261) |
| **Increase (Decrease) in Net Assets from Beneficial** <br> **Interest Transactions**<br>| **(25079812)** | **(36944627)** | **(67409570)** | **41222485** |
| **Total Increase (Decrease) in Net Assets** | **(26842370)** | **(32338039)** | **(162960416)** | **123911704** |
| **Net Assets ($):** |  |  |  |  |
| Beginning of Period | 148233571 | 180571610 | 2093723194 | 1969811490 |
| **End of Period** | **121391201** | **148233571** | **1930762778** | **2093723194** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See notes to financial statements.

**64**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Massachusetts Intermediate <br>Municipal Bond Fund | BNY Mellon Massachusetts Intermediate <br>Municipal Bond Fund | BNY Mellon Municipal <br>Opportunities Fund | BNY Mellon Municipal <br>Opportunities Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Capital Share Transactions (Shares):** |  |  |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 2599712 | 6210099 | 44000142 | 63565079 |
| Shares issued for distributions reinvested | 18420 | 35532 | 1094401 | 1083706 |
| Shares redeemed | (4670896) | (9303093) | (50073415) | (63302043) |
| **Net Increase (Decrease) in Shares Outstanding** | **(2052764)** | **(3057462)** | **(4978872)** | **1346742** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 282714 | 445804 | 3337304 | 4863185 |
| Shares issued for distributions reinvested | 10399 | 10510 | 140122 | 135384 |
| Shares redeemed | (299788) | (456158) | (4360169) | (3835248) |
| **Net Increase (Decrease) in Shares Outstanding** | **(6675)** | **156** | **(882743)** | **1163321** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended August 31, 2025, 275,893 Class M shares representing $3,366,314 were exchanged for 276,027 Investor Shares for BNY Mellon Massachusetts Intermediate Municipal Bond Fund and 2,982,489 Class M shares representing $36,845,566 were exchanged for 2,981,840 Investor Shares for BNY Mellon Municipal Opportunities Fund. During the period ended August 31, 2024, 368,031 Class M shares representing $4,478,080 were exchanged for 368,242 Investor Shares for BNY Mellon Massachusetts Intermediate Municipal Bond Fund and 4,562,749 Class M shares representing $56,444,017 were exchanged for 4,558,728 Investor Shares for BNY Mellon Municipal Opportunities Fund. 

See notes to financial statements.

**65**

------

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.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon National Intermediate Municipal Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 13.06 | 12.70 | 12.75 | 14.23 | 14.09 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .37 | .35 | .32 | .27 | .28 |
| Net realized and unrealized gain (loss) on investments | (.16)<br>| .36 | (.05)<br>| (1.41)<br>| .19 |
| Total from Investment Operations | .21 | .71 | .27 | (1.14)<br>| .47 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.37)<br>| (.35)<br>| (.32)<br>| (.27)<br>| (.28)<br>|
| Dividends from net realized gain on investments | - | - | - | (.07)<br>| (.05)<br>|
| Total Distributions | (.37)<br>| (.35)<br>| (.32)<br>| (.34)<br>| (.33)<br>|
| Net asset value, end of period | 12.90 | 13.06 | 12.70 | 12.75 | 14.23 |
| **Total Return (%)** | 1.71 | 5.63 | 2.13 | (8.14)<br>| 3.34 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .53 | .53 | .52 | .50 | .50 |
| Ratio of net expenses to average net assets | .53 <br><sup>(b)</sup><br>| .52 <br><sup>(b)</sup><br>| .52 <br><sup>(b)</sup><br>| .50 | .50 |
| Ratio of net investment income to average net assets | 2.88 <br><sup>(b)</sup><br>| 2.70 <br><sup>(b)</sup><br>| 2.51 <br><sup>(b)</sup><br>| 1.99 | 1.95 |
| Portfolio Turnover Rate | 66.38 | 66.66 | 80.75 | 65.37 | 46.51 |
| **Net Assets, end of period ($ x 1,000)** | 1698618 | 1763782 | 1861356 | 2163888 | 2740368 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**66**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon National Intermediate Municipal Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 13.04 | 12.69 | 12.73 | 14.22 | 14.07 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .34 | .31 | .29 | .24 | .24 |
| Net realized and unrealized gain (loss) on investments | (.15)<br>| .35 | (.04)<br>| (1.43)<br>| .20 |
| Total from Investment Operations | .19 | .66 | .25 | (1.19)<br>| .44 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.34)<br>| (.31)<br>| (.29)<br>| (.23)<br>| (.24)<br>|
| Dividends from net realized gain on investments | - | - | - | (.07)<br>| (.05)<br>|
| Total Distributions | (.34)<br>| (.31)<br>| (.29)<br>| (.30)<br>| (.29)<br>|
| Net asset value, end of period | 12.89 | 13.04 | 12.69 | 12.73 | 14.22 |
| **Total Return (%)** | 1.45 | 5.29 | 1.96 | (8.45)<br>| 3.16 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .78 | .78 | .77 | .75 | .75 |
| Ratio of net expenses to average net assets | .78 <br><sup>(b)</sup><br>| .77 <br><sup>(b)</sup><br>| .77 <br><sup>(b)</sup><br>| .75 | .75 |
| Ratio of net investment income to average net assets | 2.63 <br><sup>(b)</sup><br>| 2.45 <br><sup>(b)</sup><br>| 2.26 <br><sup>(b)</sup><br>| 1.74 | 1.70 |
| Portfolio Turnover Rate | 66.38 | 66.66 | 80.75 | 65.37 | 46.51 |
| **Net Assets, end of period ($ x 1,000)** | 61358 | 63485 | 49335 | 60734 | 94980 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**67**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon National Short-Term Municipal Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 12.70 | 12.41 | 12.40 | 12.94 | 12.95 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .34 | .27 | .19 | .13 | .14 |
| Net realized and unrealized gain (loss) on investments | .09 | .29 | .02 | (.54)<br>| (.01)<br>|
| Total from Investment Operations | .43 | .56 | .21 | (.41)<br>| .13 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.33)<br>| (.27)<br>| (.20)<br>| (.13)<br>| (.14)<br>|
| Net asset value, end of period | 12.80 | 12.70 | 12.41 | 12.40 | 12.94 |
| **Total Return (%)** | 3.46 | 4.55 | 1.68 | (3.17)<br>| 1.03 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .56 | .55 | .53 | .51 | .51 |
| Ratio of net expenses to average net assets<sup>(b)</sup> <br>| .44 <br><sup>(c)</sup><br>| .44 <br><sup>(c)</sup><br>| .44 <br><sup>(c)</sup><br>| .44 | .48 |
| Ratio of net investment income to average net assets<sup>(b)</sup> <br>| 2.68 <br><sup>(c)</sup><br>| 2.15 <br><sup>(c)</sup><br>| 1.57 <br><sup>(c)</sup><br>| 1.05 | 1.10 |
| Portfolio Turnover Rate | 88.48 | 90.99 | 101.11 | 92.90 | 66.89 |
| **Net Assets, end of period ($ x 1,000)** | 500392 | 362626 | 454866 | 877683 | 894027 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**68**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon National Short-Term Municipal Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 12.69 | 12.40 | 12.39 | 12.93 | 12.94 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .31 | .24 | .16 | .10 | .11 |
| Net realized and unrealized gain (loss) on investments | .09 | .29 | .02 | (.54)<br>| (.01)<br>|
| Total from Investment Operations | .40 | .53 | .18 | (.44)<br>| .10 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.30)<br>| (.24)<br>| (.17)<br>| (.10)<br>| (.11)<br>|
| Net asset value, end of period | 12.79 | 12.69 | 12.40 | 12.39 | 12.93 |
| **Total Return (%)** | 3.20 | 4.29 | 1.43 | (3.42)<br>| .78 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .81 | .80 | .78 | .76 | .76 |
| Ratio of net expenses to average net assets<sup>(b)</sup> <br>| .69 <br><sup>(c)</sup><br>| .69 <br><sup>(c)</sup><br>| .69 <br><sup>(c)</sup><br>| .69 | .73 |
| Ratio of net investment income to average net assets<sup>(b)</sup> <br>| 2.43 <br><sup>(c)</sup><br>| 1.90 <br><sup>(c)</sup><br>| 1.32 <br><sup>(c)</sup><br>| .80 | .85 |
| Portfolio Turnover Rate | 88.48 | 90.99 | 101.11 | 92.90 | 66.89 |
| **Net Assets, end of period ($ x 1,000)** | 10933 | 13418 | 15810 | 20468 | 18734 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(c)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**69**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Massachusetts Intermediate Municipal Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 12.34 | 11.98 | 11.99 | 13.25 | 13.12 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .30 | .29 | .27 | .25 | .25 |
| Net realized and unrealized gain (loss) on investments | (.14)<br>| .36 | .00 <br><sup>(b),(c)</sup><br>| (1.26)<br>| .13 |
| Total from Investment Operations | .16 | .65 | .27 | (1.01)<br>| .38 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.30)<br>| (.29)<br>| (.28)<br>| (.24)<br>| (.25)<br>|
| Dividends from net realized gain on investments | - | - | - | (.01)<br>| - |
| Total Distributions | (.30)<br>| (.29)<br>| (.28)<br>| (.25)<br>| (.25)<br>|
| Net asset value, end of period | 12.20 | 12.34 | 11.98 | 11.99 | 13.25 |
| **Total Return (%)** | 1.31 | 5.47 | 2.27 | (7.69)<br>| 2.89 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .63 | .60 | .58 | .54 | .54 |
| Ratio of net expenses to average net assets | .62 <br><sup>(d)</sup><br>| .60 <br><sup>(d)</sup><br>| .57 <br><sup>(d)</sup><br>| .54 | .54 |
| Ratio of net investment income to average net assets | 2.46 <br><sup>(d)</sup><br>| 2.38 <br><sup>(d)</sup><br>| 2.30 <br><sup>(d)</sup><br>| 1.94 | 1.87 |
| Portfolio Turnover Rate | 48.39 | 68.51 | 102.77 | 49.94 | 32.82 |
| **Net Assets, end of period ($ x 1,000)** | 113743 | 140413 | 172978 | 253744 | 341935 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount represents less than $.01 per share.

<sup>(c)</sup> In addition to net realized and unrealized losses on investments, this amount includes an increase in net asset value per share resulting from the timing of issuances and redemptions of shares in relation to fluctuating market values for the fund's investments. 

<sup>(d)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**70**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Massachusetts Intermediate Municipal Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 12.34 | 11.98 | 11.99 | 13.24 | 13.11 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .27 | .26 | .25 | .22 | .21 |
| Net realized and unrealized gain (loss) on investments | (.15)<br>| .36 | (.01)<br>| (1.25)<br>| .13 |
| Total from Investment Operations | .12 | .62 | .24 | (1.03)<br>| .34 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.27)<br>| (.26)<br>| (.25)<br>| (.21)<br>| (.21)<br>|
| Dividends from net realized gain on investments | - | - | - | (.01)<br>| - |
| Total Distributions | (.27)<br>| (.26)<br>| (.25)<br>| (.22)<br>| (.21)<br>|
| Net asset value, end of period | 12.19 | 12.34 | 11.98 | 11.99 | 13.24 |
| **Total Return (%)** | .98 | 5.21 | 2.01 | (7.85)<br>| 2.56 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .88 | .85 | .83 | .79 | .79 |
| Ratio of net expenses to average net assets | .87 <br><sup>(b)</sup><br>| .85 <br><sup>(b)</sup><br>| .82 <br><sup>(b)</sup><br>| .79 | .79 |
| Ratio of net investment income to average net assets | 2.21 <br><sup>(b)</sup><br>| 2.14 <br><sup>(b)</sup><br>| 2.05 <br><sup>(b)</sup><br>| 1.69 | 1.62 |
| Portfolio Turnover Rate | 48.39 | 68.51 | 102.77 | 49.94 | 32.82 |
| **Net Assets, end of period ($ x 1,000)** | 7648 | 7821 | 7593 | 10185 | 11680 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**71**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Municipal Opportunities Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 12.59 | 12.03 | 12.28 | 14.10 | 13.52 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .44 | .43 | .42 | .36 | .36 |
| Net realized and unrealized gain (loss) on investments | (.55)<br>| .55 | (.11)<br>| (1.80)<br>| .58 |
| Total from Investment Operations | (.11)<br>| .98 | .31 | (1.44)<br>| .94 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.44)<br>| (.42)<br>| (.41)<br>| (.36)<br>| (.36)<br>|
| Dividends from net realized gain on investments | - | - | (.15)<br>| (.02)<br>| - |
| Total Distributions | (.44)<br>| (.42)<br>| (.56)<br>| (.38)<br>| (.36)<br>|
| Net asset value, end of period | 12.04 | 12.59 | 12.03 | 12.28 | 14.10 |
| **Total Return (%)** | (.94)<br>| 8.31 | 2.60 | (10.38)<br>| 7.05 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .72 | .71 | .75 | .65 | .65 |
| Ratio of net expenses to average net assets | .72 <br><sup>(b)</sup><br>| .70 <br><sup>(b)</sup><br>| .75 <br><sup>(b)</sup><br>| .65 | .65 |
| Ratio of interest and expense related to floating rate <br>notes issued to average net assets<br>| .04 | .03 | .08 | - | - |
| Ratio of net investment income to average net assets | 3.59 <br><sup>(b)</sup><br>| 3.48 <br><sup>(b)</sup><br>| 3.45 <br><sup>(b)</sup><br>| 2.70 | 2.61 |
| Portfolio Turnover Rate | 45.11 | 63.45 | 72.98 | 57.75 | 52.25 |
| **Net Assets, end of period ($ x 1,000)** | 1874321 | 2023553 | 1916777 | 2051296 | 2568933 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**72**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Municipal Opportunities Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 12.60 | 12.04 | 12.29 | 14.11 | 13.53 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .41 | .40 | .39 | .33 | .33 |
| Net realized and unrealized gain (loss) on investments | (.57)<br>| .55 | (.11)<br>| (1.81)<br>| .58 |
| Total from Investment Operations | (.16)<br>| .95 | .28 | (1.48)<br>| .91 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.40)<br>| (.39)<br>| (.38)<br>| (.32)<br>| (.33)<br>|
| Dividends from net realized gain on investments | - | - | (.15)<br>| (.02)<br>| - |
| Total Distributions | (.40)<br>| (.39)<br>| (.53)<br>| (.34)<br>| (.33)<br>|
| Net asset value, end of period | 12.04 | 12.60 | 12.04 | 12.29 | 14.11 |
| **Total Return (%)** | (1.26)<br>| 8.14 | 2.26 | (10.60)<br>| 6.78 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .97 | .96 | 1.00 | .90 | .90 |
| Ratio of net expenses to average net assets | .97 <br><sup>(b)</sup><br>| .96 <br><sup>(b)</sup><br>| 1.00 <br><sup>(b)</sup><br>| .90 | .90 |
| Ratio of interest and expense related to floating rate <br>notes issued to average net assets<br>| .04 | .03 | .08 | - | - |
| Ratio of net investment income to average net assets | 3.34 <br><sup>(b)</sup><br>| 3.23 <br><sup>(b)</sup><br>| 3.20 <br><sup>(b)</sup><br>| 2.45 | 2.36 |
| Portfolio Turnover Rate | 45.11 | 63.45 | 72.98 | 57.75 | 52.25 |
| **Net Assets, end of period ($ x 1,000)** | 56442 | 70171 | 53035 | 75580 | 103130 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**73**

------

NOTES TO FINANCIAL STATEMENTS

**NOTE 1—**

**Significant Accounting Policies:**

BNY Mellon Funds Trust (the "Trust"), a Massachusetts business trust that is registered under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company, operates as a series company currently consisting of thirteen series, including the following diversified funds: BNY Mellon National Intermediate Municipal Bond Fund, BNY Mellon National Short-Term Municipal Bond Fund, BNY Mellon Massachusetts Intermediate Municipal Bond Fund and BNY Mellon Municipal Opportunities Fund (each, a "fund" and collectively, the "funds"). The objectives of the funds are as follows: BNY Mellon National Intermediate Municipal Bond Fund and BNY Mellon National Short-Term Municipal Bond Fund seek to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. BNY Mellon Massachusetts Intermediate Municipal Bond Fund seeks as high a level of income exempt from federal and Massachusetts state income taxes as is consistent with the preservation of capital. BNY Mellon Municipal Opportunities Fund seeks to maximize total return consisting of high current income exempt from federal income tax and capital appreciation.

BNY Mellon Investment Adviser, Inc. (the "Adviser"), a wholly-owned subsidiary of The Bank of New York Mellon Corporation ("BNY"), serves as each fund's investment adviser. The Bank of New York Mellon serves as administrator for the funds pursuant to an Administration Agreement with the Trust (the "Administration Agreement"). The Bank of New York Mellon has entered into a Sub-Administration Agreement with the Adviser pursuant to which BNY pays the Adviser for performing certain administrative services.

BNY Mellon Securities Corporation (the "Distributor"), a wholly-owned subsidiary of the Adviser, is the distributor of each fund's shares, which are sold without a sales charge. Each fund is authorized to issue an unlimited number of $.001 par value shares of Beneficial Interest in each of the following classes of shares: Class M and Investor. Each class of shares has identical rights and privileges, except with respect to the Shareholder Services Plan fee and the expenses borne by each class, the allocation of certain transfer agency costs 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 Trust 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 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. Each fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. Each 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 Trust enters into contracts that contain a variety of indemnifications. The funds' maximum exposure under these arrangements is unknown. The funds do 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 each 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 funds' 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.

**74**

------

NOTES TO FINANCIAL STATEMENTS (continued)

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value each fund's investments are as follows:

The Trust's Board of Trustees (the "Board") has designated the Adviser as the funds' valuation designee to make all fair value determinations with respect to the funds' portfolio investments, subject to the Board's oversight and pursuant to Rule 2a-5 under the Act.

Investments in municipal securities and futures are valued each business day by an independent pricing service (the "Service"). Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Municipal investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Adviser based on values supplied by the Service, based on methods which include consideration of the following: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. The Service is engaged under the general oversight of the Adviser. All of the preceding securities are generally categorized within Level 2 of the fair value hierarchy.

When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the funds calculate their net asset value, the funds may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

For securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.

Futures, which are traded on an exchange, are valued at the last sales price on the securities exchange on which such securities are primarily traded or at the last sales price on the national securities market on each business day and are generally categorized within Level 1 of the fair value hierarchy.

The following is a summary of the inputs used as of August 31, 2025 in valuing each fund's investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 -** <br>**Unadjusted** <br>**Quoted Prices**<br>| **Level 2- Other** <br>**Significant** <br>**Observable Inputs**<br>| **Level 3-** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **BNY Mellon National Intermediate Municipal Bond Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 1749204056 | &nbsp;&nbsp; — | &nbsp;&nbsp; **1749204056** |
|  | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **1749204056** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **1749204056** |
| **Liabilities ($)** |  |  |  |  |
| Other Financial Instruments: |  |  |  |  |
| Futures<sup>††</sup> <br>| &nbsp;&nbsp; (13444) | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **(13444)** |
|  | &nbsp;&nbsp; **(13444)** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **(13444)** |

---

**75**

------

NOTES TO FINANCIAL STATEMENTS (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 -**<br> **Unadjusted**<br> **Quoted Prices**<br>| **Level 2- Other**<br> **Significant** <br> **Observable Inputs**<br>| **Level 3-**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>| **Total** |
| **BNY Mellon National Short-Term Municipal Bond Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 511627722 | &nbsp;&nbsp; — | &nbsp;&nbsp; **511627722** |
|  | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **511627722** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **511627722** |
| **BNY Mellon Massachusetts Intermediate Municipal Bond** <br> **Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 120294090 | &nbsp;&nbsp; — | &nbsp;&nbsp; **120294090** |
|  | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **120294090** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **120294090** |
| **BNY Mellon Municipal Opportunities Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Corporate Bonds and Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 3390184 | &nbsp;&nbsp; — | &nbsp;&nbsp; **3390184** |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 1952441078 | &nbsp;&nbsp; — | &nbsp;&nbsp; **1952441078** |
|  | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **1955831262** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **1955831262** |
| **Liabilities ($)** |  |  |  |  |
| Other Financial Instruments: |  |  |  |  |
| Futures<sup>††</sup> <br>| &nbsp;&nbsp; (379410) | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **(379410)** |
| Inverse Floater Notes<sup>†††</sup> <br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (45385000) | &nbsp;&nbsp; — | &nbsp;&nbsp; **(45385000)** |
|  | &nbsp;&nbsp; **(379410)** | &nbsp;&nbsp; **(45385000)** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **(45764410)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| See Schedules of Investments for additional detailed categorizations, if any. |
| <sup>††</sup> <br>| Amount shown represents unrealized appreciation (depreciation) at period end, but only variation margin on exchange-traded and centrally cleared derivatives, <br> if any, are reported in the Statements of Assets and Liabilities.<br>|
| <sup>†††</sup> <br>| Certain of the fund's liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. |

---

**(b) 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. Interest income, adjusted for accretion of discount and amortization of premium on investments, is earned from settlement date and is recognized on the accrual basis. Securities purchased or sold on a when-issued or delayed delivery basis may be settled a month or more after the trade date.

BNY Mellon Massachusetts Intermediate Municipal Bond Fund follows an investment policy of investing primarily in municipal obligations of one state. Economic changes affecting the state and certain of its public bodies and municipalities may affect the ability of issuers within the state to pay interest on, or repay principal of, municipal obligations held by the fund.

**(c) Market Risk:** The value of the securities in which each 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 each 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.

**76**

------

NOTES TO FINANCIAL STATEMENTS (continued)

**Municipal Securities Risk:** The amount of public information available about municipal securities is generally less than that for corporate equities or bonds. Special factors, such as legislative changes, and state and local economic and business developments, may adversely affect the yield and/or value of the funds' investments in municipal securities. Other factors include the general conditions of the municipal securities market, the size of the particular offering, the maturity of the obligation and the rating of the issue. Changes in economic, business or political conditions relating to a particular municipal project, municipality, or state, territory or possession of the United States in which each fund invests may have an impact on the funds' share price. Any such credit impairment could adversely impact the value of their bonds, which could negatively impact the performance of the fund.

**Interest Rate Risk:** Prices of bonds and other fixed rate fixed-income securities tend to move inversely with changes in interest rates. Typically, a rise in rates will adversely affect fixed-income securities and, accordingly, will cause the value of each fund's investments in these securities to decline. A wide variety of market factors can cause interest rates to rise, including central bank monetary policy, rising inflation and changes in general economic conditions. It is difficult to predict the pace at which central banks or monetary authorities may increase (or decrease) interest rates or the timing, frequency, or magnitude of such changes. During periods of very low interest rates, which occur from time to time due to market forces or actions of governments and/or their central banks, including the Board of Governors of the Federal Reserve System in the U.S., each fund may be subject to a greater risk of principal decline from rising interest rates. When interest rates fall, each fund's investments in new securities may be at lower yields and may reduce each fund's income. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility and may detract from fund performance. The magnitude of these fluctuations in the market price of fixed-income securities is generally greater for securities with longer effective maturities and durations because such instruments do not mature, reset interest rates or become callable for longer periods of time.

**State-Specific Risk:** BNY Mellon Massachusetts Intermediate Municipal Bond Fund is subject to the risk that Massachusetts' economy, and the revenues underlying its municipal obligations, may decline. Investing primarily in the municipal obligations of a single state makes the fund more sensitive to risks specific to that state and may entail more risk than investing in the municipal obligations of multiple states as a result of potentially less diversification.

**Derivatives Risk**: A small investment in derivatives could have a potentially large impact on the relevant fund's performance. The use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets, and the relevant fund's use of derivatives may result in losses to the relevant fund. Derivatives in which the fund may invest can be highly volatile, illiquid and difficult to value, and there is the risk that changes in the value of a derivative held by the relevant fund will not correlate with the underlying assets or the relevant fund's other investments in the manner intended. Certain derivatives have the potential for unlimited loss, regardless of the size of the initial investment, and involve greater risks than the underlying assets because, in addition to general market risks, they are subject to liquidity risk, credit and counterparty risk (failure of the counterparty to the derivatives transaction to honor its obligation) and pricing risk (risk that the derivative cannot or will not be accurately valued).

**(d) Dividends and distributions to shareholders:** It is the policy of the fund to declare dividends daily from net investment income. Such dividends are paid monthly. 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.

**(e) Federal income taxes:** It is the policy of each fund to continue to qualify as a regulated investment company, which can distribute tax-exempt dividends, by complying with the applicable provisions of the Code, and to make distributions of income and net realized capital gain sufficient to relieve it from substantially all federal income and excise taxes. For federal income tax purposes, each fund is treated as a separate entity for the purpose of determining such qualification.

As of and during the period ended August 31, 2025, the funds did not have any liabilities for any uncertain tax positions. Each fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statements of Operations. During the period ended August 31, 2025, the funds did not incur any interest or penalties.

Each tax year in the four-year period ended August 31, 2025 remains subject to examination by the Internal Revenue Service and state taxing authorities.

**77**

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NOTES TO FINANCIAL STATEMENTS (continued)

The table below summarizes each fund's components of accumulated earnings on a tax basis at August 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
| **Components of Accumulated Earnings** | **Components of Accumulated Earnings** | **Components of Accumulated Earnings** | **Components of Accumulated Earnings** |
|  | Undistributed <br>Tax-Exempt <br> Income ($)<br>| Accumulated <br>Capital <br>(Losses) ($)<br>| Unrealized <br> Appreciation <br> (Depreciation) ($)<br>|
| BNY Mellon National Intermediate Municipal Bond Fund | &nbsp;&nbsp; 834901 | &nbsp;&nbsp; (72182591)<br>| &nbsp;&nbsp; (25326170)<br>|
| BNY Mellon National Short-Term Municipal Bond Fund | &nbsp;&nbsp; 404764 | &nbsp;&nbsp; (16951105)<br>| &nbsp;&nbsp; 4269745 |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | &nbsp;&nbsp; - | &nbsp;&nbsp; (7730809)<br>| &nbsp;&nbsp; (4250626)<br>|
| BNY Mellon Municipal Opportunities Fund | &nbsp;&nbsp; 2271932 | &nbsp;&nbsp; (70629588)<br>| &nbsp;&nbsp; (125370060)<br>|

---

Each fund is permitted to carry forward capital losses for an unlimited period. Furthermore, capital loss carryovers retain their character as either short-term or long-term capital losses.

The below table summarizes each fund's accumulated capital loss carryover available for federal income tax purposes to be applied against future net realized capital gains, if any, realized subsequent to August 31, 2025.

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryover** | Short-Term <br>Losses ($)<sup>†</sup> <br>| Long-Term <br>Losses ($)<sup>†</sup> <br>| Total ($) |
| BNY Mellon National Intermediate Municipal Bond Fund | &nbsp;&nbsp; 30512135 | &nbsp;&nbsp; 41670456 | &nbsp;&nbsp; 72182591 |
| BNY Mellon National Short-Term Municipal Bond Fund | &nbsp;&nbsp; 3585694 | &nbsp;&nbsp; 13365411 | &nbsp;&nbsp; 16951105 |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | &nbsp;&nbsp; 772335 | &nbsp;&nbsp; 6958474 | &nbsp;&nbsp; 7730809 |
| BNY Mellon Municipal Opportunities Fund | &nbsp;&nbsp; 6295019 | &nbsp;&nbsp; 64334569 | &nbsp;&nbsp; 70629588 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>†</sup> These capital losses can be carried forward for an unlimited period.

The below table summarizes each fund's tax character of distributions paid to shareholders during the fiscal periods ended August 31, 2025 and August 31, 2024.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 2025 | 2025 | 2024 | 2024 |
| **Tax Character of Distributions Paid** | Tax-Exempt <br>Income ($)<br>| Ordinary <br>Income ($)<br>| Tax-Exempt <br>Income ($)<br>| Ordinary <br>Income ($)<br>|
| BNY Mellon National Intermediate Municipal <br> Bond Fund<br>| &nbsp;&nbsp; 48839824 | &nbsp;&nbsp; 319190 | &nbsp;&nbsp; 50110175 | &nbsp;&nbsp; 575449 |
| BNY Mellon National Short-Term Municipal Bond <br> Fund<br>| &nbsp;&nbsp; 10430004 | &nbsp;&nbsp; 139767 | &nbsp;&nbsp; 8427570 | &nbsp;&nbsp; 237002 |
| BNY Mellon Massachusetts Intermediate <br> Municipal Bond Fund<br>| &nbsp;&nbsp; 3210188 | &nbsp;&nbsp; 13569 | &nbsp;&nbsp; 3994825 | &nbsp;&nbsp; 12615 |
| BNY Mellon Municipal Opportunities Fund | &nbsp;&nbsp; 73154385 | &nbsp;&nbsp; 244348 | &nbsp;&nbsp; 65148243 | &nbsp;&nbsp; 840262 |

---

**(f) Operating segment reporting:** In this reporting period, each fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the funds' financial position or the results of its operations. The ASU 2023-07 is effective for public entities for fiscal years beginning after December 15, 2023, and requires retrospective application for all prior periods presented within the financial statements.

Since its commencement, each fund operates and is managed as a single reportable segment deriving returns in the form of dividends, interest and/or gains from the investments made in pursuit of its single stated investment objective as outlined in the funds' prospectus. The accounting policies of the funds are consistent with those described in these Notes to Financial Statements. The chief operating decision maker ("CODM") is represented by BNY Investments, the management of the Adviser, comprising Senior Management and Directors. The CODM considers net increase in net assets resulting from operations in deciding whether to purchase additional investments or to make distributions to fund shareholders. Detailed financial information for the funds is disclosed within these financial statements with total assets and liabilities disclosed on the Statements of Assets and Liabilities, investments held on the Schedules of

**78**

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NOTES TO FINANCIAL STATEMENTS (continued)

Investments, results of operations and significant segment expenses on the Statements of Operations and other information about the funds' performance, including total return, portfolio turnover and ratios within the Financial Highlights.

**NOTE 2—**

**Bank Lines of Credit:**

The funds participate 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 funds, 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, each 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 funds based on rates determined pursuant to the terms of the respective Facility at the time of borrowing. During the period ended August 31, 2025, the funds did not borrow under either Facility.

**NOTE 3—**

**Management Fee, Administration Fee and Other Transactions with Affiliates:**

**(a)** Pursuant to an investment advisory agreement with the Adviser, the management fee is payable monthly and computed on the average daily value of each fund's net assets at the following annual rates: .35% of BNY Mellon National Intermediate Municipal Bond Fund, .35% of BNY Mellon National Short-Term Municipal Bond Fund, .35% of BNY Mellon Massachusetts Intermediate Municipal Bond Fund and .50% of BNY Mellon Municipal Opportunities Fund.

For BNY Mellon National Short-Term Municipal Bond Fund, the Adviser has contractually agreed, from September 1, 2024 through December 31, 2025, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of neither class of fund shares (excluding Shareholder Services Plan fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .44% of the fund's average daily net assets. On or after December 31, 2025, the Adviser may terminate this expense limitation agreement at any time. The reduction in expenses, pursuant to the undertaking, amounted to $459,168 during the period ended August 31, 2025.

Pursuant to the Administration Agreement, The Bank of New York Mellon provides or arranges for fund accounting, transfer agency and other fund administration services and receives a fee based on the total net assets of the Trust based on the following rates:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| 0 up to $6 billion | &nbsp;&nbsp;&nbsp;&nbsp; .15% |
| $6 billion up to $12 billion | &nbsp;&nbsp;&nbsp;&nbsp; .12% |
| In excess of $12 billion | &nbsp;&nbsp;&nbsp;&nbsp; .10% |

---

**(b)** Each fund has adopted a Shareholder Services Plan with respect to its Investor shares. Each fund pays the Distributor at an annual rate of .25% of the value of its Investor shares 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 a fund, and services related to the maintenance of such shareholder accounts. The Shareholder Services Plan allows the Distributor to make payments from the shareholder services fees it collects from each fund to compensate service agents (certain banks, securities brokers or dealers and other financial institutions) with respect to these services. The table below summarizes the amounts Investor shares were charged during the period ended August 31, 2025, pursuant to the Shareholder Services Plan, which is included in Shareholder servicing costs in the Statements of Operations.

---

| | |
|:---|:---|
| **Shareholder Services Plan Fees ($)** |  |
| BNY Mellon National Intermediate Municipal Bond Fund | 162315 |
| BNY Mellon National Short-Term Municipal Bond Fund | 29600 |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | 19122 |
| BNY Mellon Municipal Opportunities Fund | 159925 |

---

The funds have arrangements with BNY Mellon Transfer, Inc., (the "Transfer Agent") and The Bank of New York Mellon (the "Custodian"), both a subsidiary of BNY and an affiliate of the Adviser, whereby the funds may receive earnings credits when positive cash balances are maintained, which are used to offset transfer agency and custody fees. For financial reporting purposes, the funds include net earnings credits, if any, as expense offsets in the Statements of Operations.

**79**

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NOTES TO FINANCIAL STATEMENTS (continued)

Each fund compensates the Transfer Agent, under a transfer agency agreement, for providing cash management services for the funds. The Transfer Agent fees are comprised of amounts paid on cash management fees which are related to fund subscriptions and redemptions. BNY pays each fund's Transfer Agent fees comprised of amounts paid on a per account basis out of the administration fee it receives from the Trust. During the period ended August 31, 2025, there were no transfer agent cash management fees for each fund. These fees were partially offset by earnings credits for each fund, summarized in the table below.

---

| | |
|:---|:---|
| **Transfer Agent Earnings Credits ($)** |  |
| BNY Mellon National Intermediate Municipal Bond Fund | (492) |
| BNY Mellon National Short-Term Municipal Bond Fund | (142) |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | (164) |
| BNY Mellon Municipal Opportunities Fund | (343) |

---

Each fund compensates the Custodian, under a custody agreement, for providing custodial services for each fund. These fees are determined based on net assets, geographic region and transaction activity. The table below summarizes the amount each fund was charged during the period ended August 31, 2025 pursuant to the custody agreement. These fees were partially offset by earnings credits for each fund, also summarized in the table below.

---

| | | |
|:---|:---|:---|
|  | **Custodian** <br>**Fees ($)**<br>| **Custodian** <br>**Earnings Credits ($)**<br>|
| BNY Mellon National Intermediate Municipal Bond Fund | 33759 | (29819) |
| BNY Mellon National Short-Term Municipal Bond Fund | 10363 | (10363) |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | 5476 | (5476) |
| BNY Mellon Municipal Opportunities Fund | 35942 | (35942) |

---

Each fund compensates the Custodian, under a shareholder redemption draft processing agreement, for providing certain services related to the funds' check writing privilege. The following table summarizes the amount each fund was charged during the period ended August 31, 2025 pursuant to the agreement, which is included in Shareholder servicing costs in the Statements of Operations.

---

| | |
|:---|:---|
| **Checkwriting Fees ($)** |  |
| BNY Mellon National Intermediate Municipal Bond Fund | 343 |
| BNY Mellon National Short-Term Municipal Bond Fund | 94 |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | 102 |
| BNY Mellon Municipal Opportunities Fund | 232 |

---

The below table summarizes the amount each fund was charged for services performed by the Chief Compliance Officer and his staff, during the period ended August 31, 2025.

---

| | |
|:---|:---|
| **Chief Compliance Officer Fees ($)** |  |
| BNY Mellon National Intermediate Municipal Bond Fund | 24051 |
| BNY Mellon National Short-Term Municipal Bond Fund | 23989 |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | 24051 |
| BNY Mellon Municipal Opportunities Fund | 24051 |

---

**80**

------

NOTES TO FINANCIAL STATEMENTS (continued)

The funds compensate the Custodian for providing shareholder reporting and regulatory services for the funds. These fees are included in Shareholder and regulatory reports service fees in the Statements of Operations. The below table summarizes the amount each fund was charged for shareholder reporting and regulatory services, during the period ended August 31, 2025.

---

| | |
|:---|:---|
| **Shareholder and Regulatory Reports Service Fees ($)** |  |
| BNY Mellon National Intermediate Municipal Bond Fund | 7583 |
| BNY Mellon National Short-Term Municipal Bond Fund | 7583 |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | 7583 |
| BNY Mellon Municipal Opportunities Fund | 7583 |

---

The table below summarizes the components of "Due to BNY Mellon Investment Adviser, Inc. and affiliates" in the Statements of Assets and Liabilities for each fund.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** |
|  | Management <br>Fee ($)<br>| Administration <br>Fee ($)<br>| Shareholder <br>Services <br>Plan <br>Fees ($)<br>| Custodian <br>Fees ($)<br>| Chief <br>Compliance <br>Officer <br>Fees ($)<br>| Checkwriting <br>Fees ($)<br>| Shareholder <br>& Regulatory <br>Reports <br>Service <br>Fees ($)<br>| Less Expense <br>Reimbursement ($)<br>|
| BNY Mellon <br> National <br> Intermediate <br> Municipal Bond <br> Fund<br>| 520278 | 211241 | 12753 | 11763 | 2993 | 52 | 6000 | - |
| BNY Mellon <br> National Short-<br> Term Municipal <br> Bond Fund<br>| 152180 | 61787 | 2284 | 1600 | 2993 | 7 | 6000 | (43157) |
| BNY Mellon <br> Massachusetts <br> Intermediate <br> Municipal Bond <br> Fund<br>| 36141 | 14674 | 1738 | 800 | 2993 | 9 | 6000 | - |
| BNY Mellon <br> Municipal <br> Opportunities <br> Fund<br>| 829589 | 235779 | 12176 | 7600 | 2993 | 19 | 6000 | - |

---

**(c)** Each board member also serves as a Board member of other funds within the Trust. Annual retainer fees and attendance fees are allocated to each fund based on net assets.

**NOTE 4—**

**Securities Transactions:**

The table below summarizes each fund's aggregate amount of purchases and sales (including paydowns) of investment securities, excluding short-term securities, secured borrowings of inverse floater securities and derivatives, during the period ended August 31, 2025.

---

| | | |
|:---|:---|:---|
| **Purchases and Sales** | Purchases ($) | Sales ($) |
| BNY Mellon National Intermediate Municipal Bond Fund | &nbsp;&nbsp; 1150704732 | &nbsp;&nbsp; 1208038706 |
| BNY Mellon National Short-Term Municipal Bond Fund | &nbsp;&nbsp; 485750468 | &nbsp;&nbsp; 358954180 |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | &nbsp;&nbsp; 63559398 | &nbsp;&nbsp; 86959543 |
| BNY Mellon Municipal Opportunities Fund | &nbsp;&nbsp; 931632322 | &nbsp;&nbsp; 993058325 |

---

**81**

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NOTES TO FINANCIAL STATEMENTS (continued)

The fund accounts for the transfer of bonds to the Inverse Floater Trust as secured borrowings, with the securities transferred remaining in the fund's investments, and the related floating rate certificates reflected as fund liabilities in the Statement of Assets and Liabilities.

The fund may invest in inverse floater securities on either a non-recourse or recourse basis. These securities are typically supported by a liquidity facility provided by a bank or other financial institution (the "Liquidity Provider") that allows the holders of the Trust Certificates to tender their certificates in exchange for payment from the Liquidity Provider of par plus accrued interest on any business day prior to a termination event. When the fund invests in inverse floater securities on a non-recourse basis, the Liquidity Provider is required to make a payment under the liquidity facility due to a termination event to the holders of the Trust Certificates. When this occurs, the Liquidity Provider typically liquidates all or a portion of the municipal securities held in the Inverse Floater Trust. A liquidation shortfall occurs if the Trust Certificates exceed the proceeds of the sale of the bonds in the Inverse Floater Trust ("Liquidation Shortfall"). When a fund invests in inverse floater securities on a recourse basis, the fund typically enters into a reimbursement agreement with the Liquidity Provider where the fund is required to repay the Liquidity Provider the amount of any Liquidation Shortfall. As a result, a fund investing in a recourse inverse floater security bears the risk of loss with respect to any Liquidation Shortfall.

The average amount of borrowings outstanding under the inverse floater structure during the period ended August 31, 2025, was approximately $26,645,603, with a related weighted average annualized interest rate of 3.34%.

**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 fund, with the exception of the BNY Mellon Municipal Opportunities Fund, is deemed a "limited" derivatives user under the rule and is required to limit its derivatives exposure so that the total notional value of applicable derivatives does not exceed 10% of each fund's net assets, and is subject to certain reporting requirements.

BNY Mellon Municipal Opportunities Fund's derivative transactions are subject to a value-at-risk leverage limit and certain reporting and other requirements pursuant to a derivatives risk management program adopted by the fund. Each type of derivative instrument that was held by each relevant fund during the period ended August 31, 2025 is discussed below.

**Deposits with Broker:** The amount included in Cash collateral held by broker in the Statements 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 each relevant fund.

**Futures:** In the normal course of pursuing their investment objective, each relevant fund is exposed to market risk, including interest rate risk, as a result of changes in value of underlying financial instruments. Each relevant 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 Statements of Operations. When the contracts are closed, the funds recognize a realized gain or loss which is reflected in the Statements of Operations. There is minimal counterparty credit risk to each relevant fund with futures since they are exchange traded, and the exchange guarantees the futures against default. Futures open at August 31, 2025 are set forth in each relevant fund's Schedules of Investments.

**Swap Agreements**: BNY Mellon Municipal Opportunities Fund enters into swap agreements to exchange the interest rate on, or return generated by, one nominal instrument for the return generated by another nominal instrument. Swap agreements are privately negotiated in the over-the-counter ("OTC") market or centrally cleared. The fund enters into these agreements to hedge certain market or interest rate risks, to manage the interest rate sensitivity (sometimes called duration) of fixed income securities, to provide a substitute for purchasing or selling particular securities or to increase potential returns.

**82**

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NOTES TO FINANCIAL STATEMENTS (continued)

For OTC swaps, the fund accrues for interim payments on a daily basis, with the net amount recorded within unrealized appreciation (depreciation) on swap agreements in the Statements of Assets and Liabilities. Once the interim payments are settled in cash, the net amount is recorded as a realized gain (loss) on swaps, in addition to realized gain (loss) recorded upon the termination of swap agreements in the Statements of Operations. Upfront payments made and/or received by the fund, are recorded as an asset and/or liability in the Statements of Assets and Liabilities and are recorded as a realized gain or loss ratably over the agreement's term/event with the exception of forward starting interest rate swaps which are recorded as realized gains or losses on the termination date.

Upon entering into centrally cleared swap agreements, an initial margin deposit is required with a counterparty, which consists of cash or cash equivalents. The amount of these deposits is determined by the exchange on which the agreement is traded and is subject to change. The change in valuation of centrally cleared swaps is recorded as a receivable or payable for variation margin in the Statements of Assets and Liabilities. Payments received from (paid to) the counterparty, including upon termination, are recorded as realized gain (loss) in the Statements of Operations.

Fluctuations in the value of swap agreements are recorded for financial statement purposes as unrealized appreciation or depreciation on swap agreements.

**Spreadlock Swaps:** BNY Mellon Municipal Opportunities Fund participated in a spreadlock which is a credit derivative contract that establishes a predetermined spread for future interest rate swaps. The two main types of spreadlocks that can be used are forward-based spreadlocks and option-based spreadlocks. With a spreadlock, an interest rate swap user may lock in a current spread between a swap and an underlying government bond yield. This strategy allows for the transfer of basis points forward to the time when the swap is written. A spreadlock's price is equivalent to the difference between the implied forward swap rate and the implied forward bond yield. As is the case with all implied forwards, a positively sloped spread curve suggests that swap spreads will rise over time because swap spreads for shorter maturities are lower than longer maturities. A negatively sloped spread curve means that swap spreads will fall over time because swap spreads for shorter maturities are higher than longer maturities. There is a risk of loss from a change in value of such spreadlock at contract value. This risk may be mitigated by Master Agreements, if any, between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund's exposure to the counterparty. The Statements of Operations reflects any unrealized gains or losses which occurred during the period as well as any realized gains or losses which occurred upon the expiration or closing of the swap transaction. The Statements of Operations reflects any unrealized gains or losses which occurred during the period as well as any realized gains or losses which occurred upon the expiration or closing of the swap agreements. At August 31, 2025, there were no spreadlock swap agreements outstanding.

The following tables show each relevant fund's exposure to different types of market risk as it relates to the Statements of Assets and Liabilities and the Statements of Operations, respectively.

Fair value of derivative instruments as of August 31, 2025 is shown below:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; Derivative <br>Assets ($)<br>|  | &nbsp;&nbsp;&nbsp; Derivative <br>Liabilities ($)<br>|
| **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** |  |  |
| Interest Rate Risk | &nbsp;&nbsp;&nbsp;&nbsp; - | Interest Rate Risk | &nbsp;&nbsp;&nbsp;&nbsp; (13444 )<sup>(1)</sup><br>|
| **Gross fair value of derivative contracts** | &nbsp;&nbsp;&nbsp;&nbsp; **-** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(13444)**<br>|
| **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** |  |  |
| Interest Rate Risk | &nbsp;&nbsp;&nbsp;&nbsp; - | Interest Rate Risk | &nbsp;&nbsp;&nbsp;&nbsp; (379410 )<sup>(1)</sup><br>|
| **Gross fair value of derivative contracts** | &nbsp;&nbsp;&nbsp;&nbsp; **-** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(379410)**<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Statement of Assets and Liabilities location: | Statement of Assets and Liabilities location: |
| <sup>(1)</sup> <br>| Includes cumulative appreciation (depreciation) on futures as reported in the Schedules of Investments, but only the unpaid variation margin is reported in the <br> Statements of Assets and Liabilities.<br>|

---

**83**

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NOTES TO FINANCIAL STATEMENTS (continued)

The effect of derivative instruments in the Statements of Operations during the period ended August 31, 2025 is shown below:

---

| | | | |
|:---|:---|:---|:---|
| Amount of realized gain (loss) on derivatives recognized in income ($) | Amount of realized gain (loss) on derivatives recognized in income ($) | Amount of realized gain (loss) on derivatives recognized in income ($) | Amount of realized gain (loss) on derivatives recognized in income ($) |
| Underlying risk | Futures<sup>(1)</sup> <br>| Swap Agreements<sup>(2)</sup> <br>| Total |
| **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** |
| Interest Rate | &nbsp;&nbsp;&nbsp;&nbsp; 674574 | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; **674574** |
| **Total** | &nbsp;&nbsp;&nbsp;&nbsp; **674574** | &nbsp;&nbsp;&nbsp;&nbsp; **-** | &nbsp;&nbsp;&nbsp;&nbsp; **674574** |
| **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** |
| Interest Rate | &nbsp;&nbsp;&nbsp;&nbsp; 6976983 | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; **7126983** |
| **Total** | &nbsp;&nbsp;&nbsp;&nbsp; **6976983** | &nbsp;&nbsp;&nbsp;&nbsp; **150000** | &nbsp;&nbsp;&nbsp;&nbsp; **7126983** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Net change in unrealized appreciation (depreciation) on derivatives recognized in income ($) | Net change in unrealized appreciation (depreciation) on derivatives recognized in income ($) | Net change in unrealized appreciation (depreciation) on derivatives recognized in income ($) |
| Underlying risk | Futures<sup>(3)</sup> <br>| Total |
| **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** |
| Interest Rate | &nbsp;&nbsp;&nbsp;&nbsp; (36206) | &nbsp;&nbsp;&nbsp;&nbsp; **(36206)** |
| **Total** | &nbsp;&nbsp;&nbsp;&nbsp; **(36206)** | &nbsp;&nbsp;&nbsp;&nbsp; **(36206)** |
| **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** |
| Interest Rate | &nbsp;&nbsp;&nbsp;&nbsp; (638772) | &nbsp;&nbsp;&nbsp;&nbsp; **(638772)** |
| **Total** | &nbsp;&nbsp;&nbsp;&nbsp; **(638772)** | &nbsp;&nbsp;&nbsp;&nbsp; **(638772)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Statement of Operations location: | Statement of Operations location: |
| <sup>(1)</sup> <br>| Net realized gain (loss) on futures. |
| <sup>(2)</sup> <br>| Net realized gain (loss) on swap agreements. |
| <sup>(3)</sup> <br>| Net change in unrealized appreciation (depreciation) on futures. |

---

The following table summarizes the monthly average market value of derivatives outstanding during the period ended August 31, 2025:

---

| | |
|:---|:---|
|  | Average Market Value ($) |
| **BNY Mellon National Intermediate Municipal Bond Fund** | **BNY Mellon National Intermediate Municipal Bond Fund** |
| **Futures:** |  |
| Interest Rate Futures Short | &nbsp;&nbsp; 5264813 |
| **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** |
| **Futures:** |  |
| Interest Rate Futures Short | &nbsp;&nbsp; 96876422 |

---

The following table summarizes the monthly average notional value of swap agreements outstanding during the period ended August 31, 2025:

---

| | |
|:---|:---|
|  | Average Notional Value ($) |
| **BNY Mellon Municipal Opportunities Fund** | **BNY Mellon Municipal Opportunities Fund** |
| **Swap Agreements:** |  |
| Interest Rate Swap Receives Fixed Rate | &nbsp;&nbsp; 1153846 |

---

**84**

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NOTES TO FINANCIAL STATEMENTS (continued)

The table below summarizes the cost of investments for federal income tax purposes, gross appreciation, gross depreciation and accumulated net unrealized appreciation (depreciation) on investments for each fund at August 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** |
|  | Cost of <br>Investments ($)<br>| Gross <br>Appreciation ($)<br>| Gross <br>(Depreciation) ($)<br>| Net ($) |
| BNY Mellon National Intermediate Municipal <br> Bond Fund<br>| &nbsp;&nbsp; 1774530226 | &nbsp;&nbsp; 17110301 | &nbsp;&nbsp; (42436471)<br>| &nbsp;&nbsp; (25326170)<br>|
| BNY Mellon National Short-Term Municipal Bond <br> Fund<br>| &nbsp;&nbsp; 507357977 | &nbsp;&nbsp; 5365822 | &nbsp;&nbsp; (1096077)<br>| &nbsp;&nbsp; 4269745 |
| BNY Mellon Massachusetts Intermediate <br> Municipal Bond Fund<br>| &nbsp;&nbsp; 124544716 | &nbsp;&nbsp; 314285 | &nbsp;&nbsp; (4564911)<br>| &nbsp;&nbsp; (4250626)<br>|
| BNY Mellon Municipal Opportunities Fund | &nbsp;&nbsp; 2035816322 | &nbsp;&nbsp; 15950015 | &nbsp;&nbsp; (141320075)<br>| &nbsp;&nbsp; (125370060)<br>|

---

**NOTE 5—**

**Subsequent Events:**

Effective October 1, 2025, the Adviser has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to each fund, pursuant to a sub-investment advisory agreement (the "Sub-Advisory Agreement") between the Adviser and INA, with respect to each fund. INA, subject to the Adviser's supervision and approval, provides day-to-day management of each fund's assets pursuant to the Sub-Advisory Agreement. INA is an indirect wholly-owned subsidiary of BNY and is registered in the United States with the Securities and Exchange Commission as an investment adviser. INA's principal office is located at 200 Park Avenue, New York, New York 10166.

The Board has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon National Intermediate Municipal Bond Fund, BNY Mellon National Short-Term Municipal Bond Fund and BNY Mellon Municipal Opportunities Fund (collectively, the "Predecessor Funds"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Municipal Intermediate ETF, BNY Mellon Municipal Short Duration ETF and BNY Mellon Municipal Opportunities ETF, respectively (collectively, the "Acquiring ETFs"). If approved by each Predecessor Fund's shareholders, the Predecessor Funds, which currently operate as mutual funds, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into their respective Acquiring ETFs. Accordingly, if the reorganization is approved by each Predecessor Fund's shareholders, the Predecessor Funds will transfer their assets to the respective Acquiring ETF, in exchange for whole shares of the respective Acquiring ETF and the assumption by the respective Acquiring ETF of each respective Predecessor Fund's liabilities (the "Reorganization").

Shareholders of the Predecessor Funds as of September 17, 2025 (the "Record Date") will be asked to approve the Agreement on behalf of the Predecessor Funds at a special meeting of shareholders to be held on or about December 9, 2025. If the Agreement is approved, the Reorganization will be consummated on or about the close of business on January 9, 2026 (the "Closing Date").

To facilitate the conversions the following actions will occur:

Effective December 1, 2025, the Predecessor Funds will waive the shareholder service fees. Also approximately two weeks prior to the Closing Date, Investor shares of each Predecessor Fund will convert to Class M shares.

**85**

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders of the Funds and Board of Trustees of BNY Mellon Funds Trust:

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of BNY Mellon National Intermediate Municipal Bond Fund, BNY Mellon National Short-Term Municipal Bond Fund, BNY Mellon Massachusetts Intermediate Municipal Bond Fund and BNY Mellon Municipal Opportunities Fund (collectively, the "Funds"), each a series of BNY Mellon Funds Trust, including the schedules of investments, as of August 31, 2025, the related statements of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years in the five-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of August 31, 2025, the results of their operations for the year then ended, the changes in their net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of August 31, 2025, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other appropriate auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion. ![](img9f2d64e32.gif)

We have served as the auditor of one or more BNY Mellon Investment Adviser, Inc. investment companies since 1994.

New York, New York

October 23, 2025

**86**

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IMPORTANT TAX INFORMATION (Unaudited)

The following distribution information is being provided in accordance with federal tax law. Where required by federal tax rules, shareholders will receive notification of their portion of each fund's taxable ordinary dividends (if any), capital gains distributions (if any) and tax-exempt dividends paid for the 2025 calendar year on Form1099-DIV, which will be mailed in early 2026.

Each fund hereby reports all the dividends paid from investment income-net during its fiscal year ended August 31, 2025 as "exempt-interest dividends" (not generally subject to regular Federal income tax), except each fund designates the following amounts as an ordinary income distribution for reporting purposes for its fiscal year ended August 31, 2025:

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| | |
|:---|:---|
|  | **Ordinary** <br>**Income** <br>**Dividends ($)**<br>|
| BNY Mellon National Intermediate Municipal Bond Fund | 319190 |
| BNY Mellon National Short-Term Municipal Bond Fund | 139767 |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | 13569 |
| BNY Mellon Municipal Opportunities Fund | 244348 |

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**87**

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Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies (Unaudited)

N/A

**88**

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Item 9. Proxy Disclosures for Open-End Management Investment Companies (Unaudited)

N/A

**89**

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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. Each fund is charged for services performed by each fund's Chief Compliance Officer. Compensation paid by each fund during the period to the board members and the Chief Compliance Officer are within Item 7. Statements of Operations as Trustees' fees and expenses and Chief Compliance Officer fees, respectively. The aggregate amount of Trustees' fees and expenses and Chief Compliance Officer fees paid by each fund during the period is shown in the table below.

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| | |
|:---|:---|
| **Aggregate Amount of Trustees' fees and expenses and Chief Compliance Officer fees ($)** |  |
| BNY Mellon National Intermediate Municipal Bond Fund | 292666 |
| BNY Mellon National Short-Term Municipal Bond Fund | 88462 |
| BNY Mellon Massachusetts Intermediate Municipal Bond Fund | 44241 |
| BNY Mellon Municipal Opportunities Fund | 361748 |

---

**90**

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited)

At a meeting of the Trust's Board of Trustees (the "Board") held on March 24-25, 2025, the Board considered the renewal of the Trust's Investment Advisory Agreement and Administration Agreement, pursuant to which the Adviser provides the funds with investment advisory services and The Bank of New York Mellon is responsible for the provision of administrative services to the funds (together, the "Agreement"). The Bank of New York Mellon has entered into a Sub-Administration Agreement with the Adviser pursuant to which The Bank of New York Mellon pays the Adviser for performing certain of the administrative services. The Board members, none of whom are "interested persons" (as defined in the Investment Company Act of 1940, as amended) of the Trust, 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.

<u>Analysis of Nature, Extent, and Quality of Services Provided to the Funds.</u> 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 the funds in the Trust, including the funds. The Adviser provided the number of open accounts in each fund, each fund's asset size and the allocation of fund assets among distribution channels. The Adviser also had previously provided information regarding the distribution channel(s) of the funds and the need to be able to provide ongoing shareholder services to each distribution channel, as applicable to each fund.

The Board also considered research support available to, and portfolio management capabilities of, each 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.

<u>Comparative Analysis of the Funds' Performance and Management Fees and Expense Ratios.</u> For each fund, 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 Class M shares with the performance of a group of institutional 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 funds in the particular Lipper classification (the "Performance Universe"), all for various periods ended December 31, 2024, 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 all institutional funds in the particular Lipper classification, excluding outliers (the "Expense Universe"). The information for each comparison 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 each fund and comparison funds and the end date selected. The Board also considered the funds' performance in light of overall financial market conditions.

Management Fee and Expense Ratio Comparisons. For each fund, the Board reviewed and considered the contractual management fee rate (i.e., the aggregate of the investment advisory and administration fees pursuant to the Investment Advisory Agreement and Administration Agreement) 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, which included any reductions for an expense limitation arrangement in place that reduced the management fee paid to the Adviser. 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.

For each of BNY Mellon National Intermediate Municipal Bond Fund, BNY Mellon National Short-Term Municipal Bond Fund, BNY Mellon Massachusetts Intermediate Municipal Bond Fund and BNY Mellon Municipal Opportunities Fund, and representatives of the Adviser reviewed with the Board the management or advisory fees paid by any funds advised by the Adviser that are in the same Lipper category as the fund (the "Similar Fund(s)"), and explained the nature of the Similar Funds. 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. The Board considered the relevance of the fee information provided for the Similar Funds to evaluate the appropriateness of the relevant fund's management fee.

As to each fund, 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.

**BNY Mellon National Intermediate Municipal Bond Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as intermediate municipal debt funds by Lipper.

The Board discussed with representatives of the Adviser the results of the performance comparisons and considered that the fund's total return performance was below the Performance Group and Performance Universe medians for all periods, except for the ten-year period when the fund's total return performance was above the Performance Universe median. The Board also considered that the fund's yield performance was below the Performance Group median for seven of the ten one-year periods ended December 31st and above the Performance Universe median for seven of the ten

**91**

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited)Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited) (continued)

one-year periods ended December 31st. The Adviser also provided a comparison of the fund's calendar year total returns to the returns of the fund's benchmark indices. The Board discussed with representatives of the Adviser the reasons for the fund's underperformance versus the Performance Group and Performance Universe during certain periods under review and noted the relative proximity of the fund's total return performance and yield performance to the Performance Group and Performance Universe medians and benchmark indices returns during the periods under review.

The Board considered that the fund's contractual management fee was slightly 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.

**BNY Mellon National Short-Term Municipal Bond Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as short municipal debt funds by Lipper.

The Board discussed with representatives of the Adviser the results of the performance comparisons and considered that the fund's total return performance was below the Performance Group and Performance Universe medians for all periods, except for the four- and ten-year periods when the fund's total return performance was at the Performance Universe median. The Board also considered that the fund's yield performance was at or above the Performance Group median for one of the ten one-year periods ended December 31st and was above the Performance Universe median for two of the ten one-year periods ended December 31st. The Adviser also provided a comparison of the fund's calendar year total returns to the returns of the fund's benchmark indices. The Board discussed with representatives of the Adviser the reasons for the fund's underperformance versus the Performance Group and Performance Universe during certain periods under review and noted the relative proximity of the fund's total return performance and yield performance to the Performance Group and Performance Universe medians and benchmark indices returns during the periods under review.

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 approximately equivalent to the Expense Group median and slightly higher than the Expense Universe median total expenses.

Representatives of the Adviser stated that the Adviser has contractually agreed, until December 31, 2025, to waive receipt of its fees and/or assume the direct expenses of the fund, so that the direct expenses of neither class of fund shares (excluding shareholder services fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .44%.

**BNY Mellon Massachusetts Intermediate Municipal Bond Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as "other states" intermediate municipal debt funds by Lipper.

The Board discussed with representatives of the Adviser the results of the performance comparisons and considered that the fund's total return performance was above the Performance Group and Performance Universe medians for all periods. The Board also considered that the fund's yield performance was below the Performance Group median for six of the ten one-year periods ended December 31st and above or at the Performance Universe for eight of the ten one-year periods ended December 31st. The Board also considered that not all the other funds in the Performance Group or Performance Universe invested primarily in Massachusetts municipal securities. The Adviser also provided a comparison of the fund's calendar year total returns to the returns of the fund's benchmark indices. The Board noted that the fund had a five-star rating for the three-year period and a four-star rating for the five-year period and a four-star overall rating from Morningstar based on Morningstar's risk-adjusted return measures.

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 slightly higher than the Expense Group median and higher than the Expense Universe median actual management fee, and the fund's total expenses were equal to the Expense Group median and approximately equivalent to the Expense Universe median total expenses.

**BNY Mellon Municipal Opportunities Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as general and insured municipal debt funds by Lipper.

The Board discussed with representatives of the Adviser the results of the performance comparisons and considered that the fund's total return performance was above the Performance Group and Performance Universe medians for all periods. The Board also considered that the fund's yield performance was below the Performance Group median for all ten one-year periods ended December 31st and above the Performance Universe median for all ten one-year periods ended December 31st. The Board considered the relative proximity of the fund's yield performance to the Performance Group and Performance Universe medians during certain 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 indices. The Board noted that the fund had a five-star overall rating, and a five-star rating for each of the five- and ten-year periods and a four-star rating for the three-year period, from Morningstar based on Morningstar's risk-adjusted return measures.

**92**

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited)

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.

<u>Analysis of Profitability and Economies of Scale.</u> Representatives of the Adviser reviewed the expenses allocated and profit received by the Adviser and its affiliates and the resulting profitability percentage for managing each fund and the aggregate profitability percentage to the Adviser and its affiliates for managing the funds in the BNY Mellon 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 to each fund. The Board also considered the expense limitation arrangement for certain funds and the effect such arrangements had on the profitability of the Adviser and its affiliates. The Board also 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 Mellon fund complex. The consulting firm also had analyzed where any economies of scale might emerge in connection with the management of a fund.

As to each fund, the Board considered, on the advice of its counsel, the profitability analysis (1) as part of its evaluation of whether the fees 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 Mellon 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 funds' 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.

&nbsp;&nbsp;&nbsp;&nbsp;●The Board concluded that the nature, extent and quality of the services provided by the Adviser to each fund are satisfactory and appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●With respect to BNY Mellon National Intermediate Municipal Bond Fund and BNY Mellon National Short-Term Municipal Bond Fund, the Board determined each fund's overall performance was satisfactory in light of the totality of the information presented.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●With respect to BNY Mellon Massachusetts Intermediate Municipal Bond Fund and BNY Mellon Municipal Opportunities Fund, the Board was satisfied with each fund's overall performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●With respect to each fund, the Board concluded that the fees paid pursuant to the Agreement continued to be appropriate under the circumstances and in light of the factors and the totality of the services provided as discussed above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●The Board determined that the economies of scale which may accrue to the Adviser and its affiliates in connection with the management of the funds had been adequately considered by the Adviser in connection with the fee rate charged to each 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 with respect to each fund, 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 pursuant to the Agreement. The Board also relied on information received on a routine and regular basis throughout the year relating to the operations of the funds and the investment management and other services provided under the Agreement, including information on the investment performance of each fund in comparison to similar mutual funds and benchmark performance indices; general market outlook as applicable to each fund; and compliance reports. In addition, the Board's consideration of the contractual fee arrangements for each fund had the benefit of a number of years of reviews of the Agreement for the funds, 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 respective fund's arrangements, or substantially similar arrangements for the other funds in the Trust, in prior years. The Board determined to renew the Agreement for each fund.

**93**

------© 2025 BNY Mellon Securities Corporation

Code-MFTNCSRAR0825-MB

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**BNY Mellon Funds Trust**

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| **Funds** | **Ticker Symbols** | **Ticker Symbols** |
|  | Class M | Investor Shares |
| BNY Mellon Bond Fund | MPBFX | MIBDX |
| BNY Mellon Intermediate Bond Fund | MPIBX | MIIDX |
| BNY Mellon Corporate Bond Fund | BYMMX | BYMIX |

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**ANNUAL FINANCIALS AND OTHER INFORMATION**

August 31, 2025

![](img425d6ec21.gif)

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**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.**

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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

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Contents

The Funds

Please note the 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").

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **[Item 7. Financial Statements and Financial Highlights for Open-End Management](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_SOI-Continued-4759_1)**<br> **[Investment Companies](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_SOI-Continued-4759_1)**<br>| 2 |
| [Schedules of Investments](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_SOI-Continued-4759_1) | 2 |
| [Statements of Assets and Liabilities](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_FS-Continued-4759_1) | 17 |
| [Statements of Operations](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_FS-Continued-4759_2) | 18 |
| [Statements of Changes in Net Assets](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_FS-Continued-4759_3) | 19 |
| [Financial Highlights](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_FIHI-Continued-4759_1) | 23 |
| [Notes to Financial Statements](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_NTF-Continued-4759_1) | 29 |
| [Report of Independent Registered Public Accounting Firm](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_AUD-Continued-4759_1) | 39 |
| [Important Tax Information](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_ITI-Continued_1) | 40 |
| **[Item 8. Changes in and Disagreements with Accountants for Open-End Management](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_CDA-Continued-4759_1)**<br> **[Investment Companies](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_CDA-Continued-4759_1)**<br>| 41 |
| **[Item 9. Proxy Disclosures for Open-End Management Investment Companies](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_PRXD-Continued-4759_1)** | 42 |
| **[Item 10. Remuneration Paid to Directors, Officers, and Other of Open-End](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_RMNP-Continued_1)**<br> **[Management Investment Companies](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_RMNP-Continued_1)**<br>| 43 |
| **[Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts](#xx_1d4edd23-bb7d-4582-943e-88e7961e31ee_AAA-Continued-4759_1)** | 44 |

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Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

SCHEDULES OF INVESTMENTS

August 31, 2025

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| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Bond Fund** | **BNY Mellon Bond Fund** | **BNY Mellon Bond Fund** | **BNY Mellon Bond Fund** | **BNY Mellon Bond Fund** |
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>| Value ($) |
| **Bonds and Notes — 99.0%** | **Bonds and Notes — 99.0%** | **Bonds and Notes — 99.0%** | **Bonds and Notes — 99.0%** | **Bonds and Notes — 99.0%** |
| **Aerospace & Defense — .7%** | **Aerospace & Defense — .7%** | **Aerospace & Defense — .7%** | **Aerospace & Defense — .7%** | **Aerospace & Defense — .7%** |
| The Boeing Company, Sr. Unscd. Notes | 3.63 | 2/1/2031 | 4750000 | 4537256 |
| The Boeing Company, Sr. Unscd. Notes | 6.53 | 5/1/2034 | 3825000 | 4191330 |
|  |  |  |  | **8728586** |
| **Airlines — .2%** | **Airlines — .2%** | **Airlines — .2%** | **Airlines — .2%** | **Airlines — .2%** |
| American Airlines Pass-Through Trust, Ser. 2015-1, Cl. A | 3.38 | 5/1/2027 | 3069550 | **3014178** |
| **Automobiles & Components — .5%** | **Automobiles & Components — .5%** | **Automobiles & Components — .5%** | **Automobiles & Components — .5%** | **Automobiles & Components — .5%** |
| General Motors Financial Co., Inc., Sr. Unscd. Notes | 3.10 | 1/12/2032 | 7400000 | **6582800** |
| **Banks — 9.2%** | **Banks — 9.2%** | **Banks — 9.2%** | **Banks — 9.2%** | **Banks — 9.2%** |
| Bank of America Corp., Jr. Sub. Notes, Ser. TT<sup>(a)</sup> <br>| 6.13 | 4/27/2027 | 8650000 | 8752030 |
| Barclays PLC, Sr. Unscd. Notes | 7.44 | 11/2/2033 | 7250000 | 8281751 |
| Citigroup, Inc., Sub. Notes | 6.17 | 5/25/2034 | 9300000 | 9801063 |
| Citizens Financial Group, Inc., Sr. Unscd. Notes | 5.72 | 7/23/2032 | 7325000 | 7652508 |
| Comerica, Inc., Sr. Unscd. Notes | 5.98 | 1/30/2030 | 5750000 | 5966893 |
| Deutsche Bank AG, Sr. Notes | 5.30 | 5/9/2031 | 8675000 | 8890604 |
| HSBC Holdings PLC, Sr. Unscd. Notes<sup>(b)</sup> <br>| 6.25 | 3/9/2034 | 8000000 | 8642042 |
| JPMorgan Chase & Co., Jr. Sub. Notes, Ser. OO<sup>(a)</sup> <br>| 6.50 | 4/1/2030 | 5475000 | 5636912 |
| Morgan Stanley, Sr. Unscd. Notes | 5.59 | 1/18/2036 | 7770000 | 8036787 |
| NatWest Group PLC, Sr. Unscd. Notes | 5.08 | 1/27/2030 | 5500000 | 5622334 |
| Nordea Bank Abp, Jr. Sub. Notes<sup>(a),(b),(c)</sup> <br>| 6.63 | 3/26/2026 | 4280000 | 4315331 |
| Santander Holdings USA, Inc., Sr. Unscd. Bonds | 7.66 | 11/9/2031 | 6800000 | 7663572 |
| Societe Generale SA, Sr. Notes<sup>(c)</sup> <br>| 6.69 | 1/10/2034 | 8000000 | 8613761 |
| The Goldman Sachs Group, Inc., Sub. Notes | 6.75 | 10/1/2037 | 8000000 | 8895766 |
| Wells Fargo & Co., Sr. Unscd. Notes | 5.24 | 1/24/2031 | 8500000 | 8783058 |
|  |  |  |  | **115554412** |
| **Beverage Products — .5%** | **Beverage Products — .5%** | **Beverage Products — .5%** | **Beverage Products — .5%** | **Beverage Products — .5%** |
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., Gtd. Notes | 4.90 | 2/1/2046 | 6250000 | **5710540** |
| **Diversified Financials — 4.2%** | **Diversified Financials — 4.2%** | **Diversified Financials — 4.2%** | **Diversified Financials — 4.2%** | **Diversified Financials — 4.2%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Gtd. Notes | 6.95 | 3/10/2055 | 6500000 | 6809249 |
| Aircastle Ltd., Gtd. Notes<sup>(c)</sup> <br>| 2.85 | 1/26/2028 | 6250000 | 6017853 |
| Apollo Debt Solutions BDC, Sr. Unscd. Notes<sup>(b)</sup> <br>| 6.70 | 7/29/2031 | 5800000 | 6141221 |
| Ares Capital Corp., Sr. Unscd. Notes | 2.88 | 6/15/2028 | 5500000 | 5251186 |
| BlackRock TCP Capital Corp., Sr. Unscd. Notes<sup>(b)</sup> <br>| 2.85 | 2/9/2026 | 3800000 | 3747380 |
| Blackstone Secured Lending Fund, Sr. Unscd. Notes | 2.85 | 9/30/2028 | 6890000 | 6512740 |
| Blue Owl Capital Corp., Sr. Unscd. Notes | 2.63 | 1/15/2027 | 2500000 | 2425127 |
| Blue Owl Finance LLC, Gtd. Notes | 4.13 | 10/7/2051 | 7650000 | 5387662 |
| CDP Financial, Inc., Gtd. Notes<sup>(b),(c)</sup> <br>| 4.88 | 6/5/2029 | 3500000 | 3633657 |
| Ontario Teachers' Finance Trust, Gtd. Notes<sup>(c)</sup> <br>| 2.00 | 4/16/2031 | 4130000 | 3721837 |
| Ontario Teachers' Finance Trust, Gtd. Notes<sup>(c)</sup> <br>| 4.63 | 4/10/2029 | 3500000 | 3592692 |
|  |  |  |  | **53240604** |
| **Electronic Components — .4%** | **Electronic Components — .4%** | **Electronic Components — .4%** | **Electronic Components — .4%** | **Electronic Components — .4%** |
| Jabil, Inc., Sr. Unscd. Notes | 3.60 | 1/15/2030 | 5500000 | **5286204** |
| **Energy — 1.9%** | **Energy — 1.9%** | **Energy — 1.9%** | **Energy — 1.9%** | **Energy — 1.9%** |
| Diamondback Energy, Inc., Gtd. Notes | 3.13 | 3/24/2031 | 4800000 | 4447398 |
| Energy Transfer LP, Sr. Unscd. Notes | 5.55 | 5/15/2034 | 4000000 | 4063856 |
| Enterprise Products Operating LLC, Gtd. Notes | 5.35 | 1/31/2033 | 3375000 | 3501127 |
| Kinder Morgan, Inc., Gtd. Notes | 5.20 | 6/1/2033 | 5500000 | 5565717 |

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**2**

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| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** |
| **Energy — 1.9% (continued)** | **Energy — 1.9% (continued)** | **Energy — 1.9% (continued)** | **Energy — 1.9% (continued)** | **Energy — 1.9% (continued)** |
| Targa Resources Corp., Gtd. Notes | 5.50 | 2/15/2035 | 1750000 | 1765868 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp., Gtd. <br> Notes<br>| 5.00 | 1/15/2028 | 5000000 | 5005558 |
|  |  |  |  | **24349524** |
| **Food Products — .5%** | **Food Products — .5%** | **Food Products — .5%** | **Food Products — .5%** | **Food Products — .5%** |
| The Kroger Company, Sr. Unscd. Notes | 1.70 | 1/15/2031 | 6500000 | **5672962** |
| **Foreign Governmental — .7%** | **Foreign Governmental — .7%** | **Foreign Governmental — .7%** | **Foreign Governmental — .7%** | **Foreign Governmental — .7%** |
| British Columbia, Sr. Unscd. Notes | 4.20 | 7/6/2033 | 2075000 | 2058876 |
| Japan Finance Organization for Municipalities, Sr. Unscd. Notes<sup>(c)</sup> <br>| 1.38 | 2/10/2031 | 4130000 | 3594718 |
| Province of Manitoba, Sr. Unscd. Notes<sup>(b)</sup> <br>| 4.30 | 7/27/2033 | 3720000 | 3699442 |
|  |  |  |  | **9353036** |
| **Health Care — 2.8%** | **Health Care — 2.8%** | **Health Care — 2.8%** | **Health Care — 2.8%** | **Health Care — 2.8%** |
| AbbVie, Inc., Sr. Unscd. Notes | 3.20 | 11/21/2029 | 6000000 | 5783119 |
| Amgen, Inc., Sr. Unscd. Notes | 5.60 | 3/2/2043 | 5075000 | 5019507 |
| Amgen, Inc., Sr. Unscd. Notes | 5.65 | 6/15/2042 | 1605000 | 1593655 |
| CVS Health Corp., Sr. Unscd. Notes | 4.78 | 3/25/2038 | 7250000 | 6674801 |
| HCA, Inc., Gtd. Notes | 5.75 | 3/1/2035 | 5100000 | 5248707 |
| Pfizer Investment Enterprises Pte Ltd., Gtd. Notes | 4.65 | 5/19/2030 | 6520000 | 6648504 |
| UnitedHealth Group, Inc., Sr. Unscd. Notes | 4.95 | 1/15/2032 | 4775000 | 4874218 |
|  |  |  |  | **35842511** |
| **Industrial — .3%** | **Industrial — .3%** | **Industrial — .3%** | **Industrial — .3%** | **Industrial — .3%** |
| LBJ Infrastructure Group LLC, Sr. Scd. Bonds<sup>(c)</sup> <br>| 3.80 | 12/31/2057 | 5000000 | **3390184** |
| **Information Technology — 1.0%** | **Information Technology — 1.0%** | **Information Technology — 1.0%** | **Information Technology — 1.0%** | **Information Technology — 1.0%** |
| Oracle Corp., Sr. Unscd. Notes | 3.90 | 5/15/2035 | 7135000 | 6438107 |
| Synopsys, Inc., Sr. Unscd. Notes | 5.00 | 4/1/2032 | 6125000 | 6251395 |
|  |  |  |  | **12689502** |
| **Insurance — .6%** | **Insurance — .6%** | **Insurance — .6%** | **Insurance — .6%** | **Insurance — .6%** |
| MetLife, Inc., Jr. Sub. Notes, Ser. G<sup>(a)</sup> <br>| 3.85 | 9/15/2025 | 1900000 | 1896418 |
| Prudential Financial, Inc., Sr. Unscd. Notes | 4.35 | 2/25/2050 | 7250000 | 5948820 |
|  |  |  |  | **7845238** |
| **Internet Software & Services — .9%** | **Internet Software & Services — .9%** | **Internet Software & Services — .9%** | **Internet Software & Services — .9%** | **Internet Software & Services — .9%** |
| Amazon.com, Inc., Sr. Unscd. Notes | 1.65 | 5/12/2028 | 5250000 | 4962610 |
| Meta Platforms, Inc., Sr. Unscd. Notes | 4.45 | 8/15/2052 | 7700000 | 6420295 |
|  |  |  |  | **11382905** |
| **Media — .2%** | **Media — .2%** | **Media — .2%** | **Media — .2%** | **Media — .2%** |
| Comcast Corp., Gtd. Notes | 5.35 | 11/15/2027 | 3000000 | **3083607** |
| **Metals & Mining — .7%** | **Metals & Mining — .7%** | **Metals & Mining — .7%** | **Metals & Mining — .7%** | **Metals & Mining — .7%** |
| Glencore Funding LLC, Gtd. Notes<sup>(c)</sup> <br>| 2.63 | 9/23/2031 | 4775000 | 4263086 |
| Nucor Corp., Sr. Unscd. Notes | 3.13 | 4/1/2032 | 5470000 | 5007232 |
|  |  |  |  | **9270318** |
| **Municipal Securities — .2%** | **Municipal Securities — .2%** | **Municipal Securities — .2%** | **Municipal Securities — .2%** | **Municipal Securities — .2%** |
| Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. <br> A-1<br>| 3.49 | 6/1/2036 | 3000000 | **2517323** |
| **Retailing — .4%** | **Retailing — .4%** | **Retailing — .4%** | **Retailing — .4%** | **Retailing — .4%** |
| The Home Depot, Inc., Sr. Unscd. Notes | 1.38 | 3/15/2031 | 5595000 | **4809315** |
| **Semiconductors & Semiconductor Equipment — 1.5%** | **Semiconductors & Semiconductor Equipment — 1.5%** | **Semiconductors & Semiconductor Equipment — 1.5%** | **Semiconductors & Semiconductor Equipment — 1.5%** | **Semiconductors & Semiconductor Equipment — 1.5%** |
| Broadcom, Inc., Gtd. Notes<sup>(c)</sup> <br>| 2.45 | 2/15/2031 | 4000000 | 3617883 |
| Broadcom, Inc., Sr. Unscd. Notes<sup>(c)</sup> <br>| 3.19 | 11/15/2036 | 6000000 | 5011771 |

---

**3**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** |
| **Semiconductors & Semiconductor Equipment — 1.5% (continued)** | **Semiconductors & Semiconductor Equipment — 1.5% (continued)** | **Semiconductors & Semiconductor Equipment — 1.5% (continued)** | **Semiconductors & Semiconductor Equipment — 1.5% (continued)** | **Semiconductors & Semiconductor Equipment — 1.5% (continued)** |
| Foundry JV Holdco LLC, Sr. Scd. Notes<sup>(c)</sup> <br>| 5.88 | 1/25/2034 | 5275000 | 5420652 |
| Intel Corp., Sr. Unscd. Notes<sup>(b)</sup> <br>| 5.60 | 2/21/2054 | 5650000 | 5142283 |
|  |  |  |  | **19192589** |
| **Technology Hardware & Equipment — .4%** | **Technology Hardware & Equipment — .4%** | **Technology Hardware & Equipment — .4%** | **Technology Hardware & Equipment — .4%** | **Technology Hardware & Equipment — .4%** |
| Dell International LLC/EMC Corp., Gtd. Notes | 3.38 | 12/15/2041 | 6280000 | **4678933** |
| **Telecommunication Services — 2.2%** | **Telecommunication Services — 2.2%** | **Telecommunication Services — 2.2%** | **Telecommunication Services — 2.2%** | **Telecommunication Services — 2.2%** |
| AT&T, Inc., Sr. Unscd. Notes | 4.55 | 3/9/2049 | 10250000 | 8446602 |
| Motorola Solutions, Inc., Sr. Unscd. Notes | 5.40 | 4/15/2034 | 4800000 | 4932241 |
| T-Mobile USA, Inc., Gtd. Notes | 3.00 | 2/15/2041 | 10685000 | 7813232 |
| Verizon Communications, Inc., Sr. Unscd. Notes | 2.99 | 10/30/2056 | 10303000 | 6161560 |
|  |  |  |  | **27353635** |
| **Transportation — .3%** | **Transportation — .3%** | **Transportation — .3%** | **Transportation — .3%** | **Transportation — .3%** |
| J.B. Hunt Transport Services, Inc., Gtd. Notes | 3.88 | 3/1/2026 | 3750000 | **3738351** |
| **U.S. Government Agencies Collateralized Municipal-Backed Securities — .3%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .3%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .3%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .3%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .3%** |
| Government National Mortgage Association, Ser. 2012-135, Cl. AE | 1.83 | 12/16/2052 | 4593985 | **3904740** |
| **U.S. Government Agencies Mortgage-Backed — 25.9%** | **U.S. Government Agencies Mortgage-Backed — 25.9%** | **U.S. Government Agencies Mortgage-Backed — 25.9%** | **U.S. Government Agencies Mortgage-Backed — 25.9%** | **U.S. Government Agencies Mortgage-Backed — 25.9%** |
| Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: |
| 2.00%, 2/1/2052<sup>(d)</sup> <br>|  |  | 13386060 | 10725541 |
| 2.50%, 10/1/2051-12/1/2051<sup>(d)</sup> <br>|  |  | 15160164 | 12737632 |
| 3.00%, 6/1/2052<sup>(d)</sup> <br>|  |  | 5599253 | 4864948 |
| 3.50%, 7/1/2047-11/1/2047<sup>(d)</sup> <br>|  |  | 16962400 | 15609451 |
| 4.00%, 6/1/2053<sup>(d)</sup> <br>|  |  | 9104010 | 8578485 |
| 5.00%, 11/1/2052-12/1/2054<sup>(d)</sup> <br>|  |  | 27255903 | 27092938 |
| 5.50%, 4/1/2054-2/1/2055<sup>(d)</sup> <br>|  |  | 37506824 | 37919299 |
| 6.00%, 4/1/2055<sup>(d)</sup> <br>|  |  | 7182878 | 7342960 |
| Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: |
| 2.00%, 5/1/2051-4/1/2052<sup>(d)</sup> <br>|  |  | 34572163 | 27742822 |
| 2.50%, 6/1/2051-3/1/2052<sup>(d)</sup> <br>|  |  | 36625065 | 30499511 |
| 3.00%, 6/1/2052-7/1/2052<sup>(d)</sup> <br>|  |  | 25380988 | 22035819 |
| 3.50%, 3/1/2048-9/1/2052<sup>(d)</sup> <br>|  |  | 14419906 | 13174931 |
| 4.00%, 4/1/2052-9/1/2052<sup>(d)</sup> <br>|  |  | 10915261 | 10207135 |
| 4.50%, 10/1/2052<sup>(d)</sup> <br>|  |  | 5680787 | 5498797 |
| 5.00%, 1/1/2055<sup>(d)</sup> <br>|  |  | 6469317 | 6427787 |
| 5.50%, 7/1/2055<sup>(d)</sup> <br>|  |  | 6446962 | 6530770 |
| 6.00%, 9/1/2054-11/1/2054<sup>(d)</sup> <br>|  |  | 13641770 | 13968126 |
| Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: |
| 2.00%, 10/20/2050-9/20/2051 |  |  | 18087311 | 14587821 |
| 2.50%, 5/20/2051 |  |  | 9693826 | 8110116 |
| 3.00%, 6/20/2050 |  |  | 2262069 | 1967302 |
| 3.50%, 1/20/2052-9/20/2053 |  |  | 10287893 | 9486216 |
| 4.00%, 2/20/2051-6/20/2051 |  |  | 7749316 | 7146393 |
| 4.50%, 7/20/2052 |  |  | 7079188 | 6876101 |
| 6.50%, 7/20/2055 |  |  | 7704327 | 7941333 |
| 7.00%, 6/20/2055 |  |  | 6421229 | 6655003 |
| 7.50%, 7/20/2054 |  |  | 3184272 | 3310048 |
|  |  |  |  | **327037285** |
| **U.S. Treasury Securities — 42.1%** | **U.S. Treasury Securities — 42.1%** | **U.S. Treasury Securities — 42.1%** | **U.S. Treasury Securities — 42.1%** | **U.S. Treasury Securities — 42.1%** |
| U.S. Treasury Bonds | 3.63 | 2/15/2053 | 9750000 | 7806284 |
| U.S. Treasury Bonds | 3.63 | 5/15/2053 | 17890000 | 14308855 |
| U.S. Treasury Bonds | 3.88 | 2/15/2043 | 18435000 | 16386267 |

---

**4**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** | **Bonds and Notes — 99.0% (continued)** |
| **U.S. Treasury Securities — 42.1% (continued)** | **U.S. Treasury Securities — 42.1% (continued)** | **U.S. Treasury Securities — 42.1% (continued)** | **U.S. Treasury Securities — 42.1% (continued)** | **U.S. Treasury Securities — 42.1% (continued)** |
| U.S. Treasury Bonds | 4.00 | 11/15/2052 | 11000000 | 9443242 |
| U.S. Treasury Bonds | 4.13 | 8/15/2053 | 9250000 | 8104229 |
| U.S. Treasury Bonds | 4.38 | 8/15/2043 | 1550000 | 1466082 |
| U.S. Treasury Bonds<sup>(b)</sup> <br>| 4.75 | 2/15/2045 | 19500000 | 19216641 |
| U.S. Treasury Bonds | 4.75 | 11/15/2053 | 7750000 | 7536118 |
| U.S. Treasury Bonds | 4.75 | 8/15/2055 | 7750000 | 7542930 |
| U.S. Treasury Inflation Indexed Notes, U.S. CPI Urban Consumers Not <br> Seasonally Adjusted<sup>(e)</sup> <br>| 0.38 | 1/15/2027 | 6676650 | 6632716 |
| U.S. Treasury Inflation Indexed Notes, U.S. CPI Urban Consumers Not <br> Seasonally Adjusted<sup>(e)</sup> <br>| 0.50 | 1/15/2028 | 10461440 | 10372063 |
| U.S. Treasury Notes | 2.38 | 5/15/2027 | 4500000 | 4404990 |
| U.S. Treasury Notes | 2.88 | 4/30/2029 | 1000000 | 974863 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 3.25 | 6/30/2027 | 11250000 | 11172656 |
| U.S. Treasury Notes | 3.25 | 6/30/2029 | 17435000 | 17202420 |
| U.S. Treasury Notes | 3.38 | 9/15/2027 | 20250000 | 20157847 |
| U.S. Treasury Notes | 3.50 | 9/30/2029 | 15150000 | 15071587 |
| U.S. Treasury Notes | 3.63 | 8/31/2029 | 21750000 | 21743628 |
| U.S. Treasury Notes | 3.63 | 3/31/2030 | 10000000 | 9979297 |
| U.S. Treasury Notes | 3.75 | 5/15/2028 | 24750000 | 24853447 |
| U.S. Treasury Notes | 3.75 | 5/31/2030 | 11250000 | 11281641 |
| U.S. Treasury Notes | 3.88 | 4/30/2030 | 7500000 | 7564746 |
| U.S. Treasury Notes | 3.88 | 6/30/2030 | 10000000 | 10083203 |
| U.S. Treasury Notes | 3.88 | 8/15/2034 | 19750000 | 19365415 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 4.00 | 2/28/2030 | 9250000 | 9381162 |
| U.S. Treasury Notes | 4.00 | 7/31/2030 | 20250000 | 20518945 |
| U.S. Treasury Notes | 4.00 | 4/30/2032 | 21475000 | 21603347 |
| U.S. Treasury Notes | 4.13 | 11/15/2027 | 3000000 | 3032285 |
| U.S. Treasury Notes | 4.13 | 8/31/2030 | 13500000 | 13755234 |
| U.S. Treasury Notes | 4.13 | 7/31/2031 | 7250000 | 7370220 |
| U.S. Treasury Notes | 4.13 | 5/31/2032 | 11215000 | 11358254 |
| U.S. Treasury Notes | 4.25 | 2/15/2028 | 16760000 | 17015656 |
| U.S. Treasury Notes | 4.25 | 2/28/2029 | 16105000 | 16444400 |
| U.S. Treasury Notes | 4.25 | 6/30/2029 | 18660000 | 19072196 |
| U.S. Treasury Notes | 4.25 | 1/31/2030 | 6000000 | 6142266 |
| U.S. Treasury Notes | 4.25 | 11/15/2034 | 5500000 | 5537275 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 4.25 | 5/15/2035 | 12250000 | 12291152 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 4.25 | 8/15/2035 | 3500000 | 3507383 |
| U.S. Treasury Notes | 4.38 | 8/31/2028 | 12920000 | 13207167 |
| U.S. Treasury Notes | 4.38 | 11/30/2028 | 13000000 | 13307988 |
| U.S. Treasury Notes | 4.38 | 5/15/2034 | 23860000 | 24331142 |
| U.S. Treasury Notes | 4.50 | 5/31/2029 | 4915000 | 5064466 |
| U.S. Treasury Notes | 4.63 | 5/31/2031 | 10455000 | 10900359 |
| U.S. Treasury Notes | 4.88 | 10/31/2028 | 13800000 | 14323699 |
|  |  |  |  | **530835763** |
| **Utilities — .4%** | **Utilities — .4%** | **Utilities — .4%** | **Utilities — .4%** | **Utilities — .4%** |
| NextEra Energy Capital Holdings, Inc., Gtd. Notes | 6.70 | 9/1/2054 | 4295000 | **4422604** |
| **Total Bonds and Notes** <br>(cost $1,276,152,941)<br>|  |  |  | **1249487649** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**5**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** | **BNY Mellon Bond Fund (continued)** |
| Description | 1-Day <br>Yield (%)<br>| Shares | Value ($) |
| **Investment Companies — .5%** | **Investment Companies — .5%** | **Investment Companies — .5%** | **Investment Companies — .5%** |
| **Registered Investment Companies — .5%** | **Registered Investment Companies — .5%** | **Registered Investment Companies — .5%** | **Registered Investment Companies — .5%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(f)</sup> <br>(cost $5,920,346)<br>| 4.41 | 5920346 | **5920346** |
| **Investment of Cash Collateral for Securities Loaned — .3%** |  |  |  |
| **Registered Investment Companies — .3%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(f)</sup> <br>(cost $4,017,569)<br>| 4.41 | 4017569 | **4017569** |
| **Total Investments** (cost $1,286,090,856) | **Total Investments** (cost $1,286,090,856) | **99.8%** | **1259425564** |
| **Cash and Receivables (Net)** | **Cash and Receivables (Net)** | **.2%** | **2411470** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **1261837034** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security is a perpetual bond with no specified maturity date. Maturity date shown is next reset date of the bond.

<sup>(b)</sup> Security, or portion thereof, on loan. At August 31, 2025, the value of the fund's securities on loan was $64,337,637 and the value of the collateral was $66,165,781, consisting of cash collateral of $4,017,569 and U.S. Government & Agency securities valued at $62,148,212. In addition, the value of collateral may include pending sales that are also on loan. 

<sup>(c)</sup> 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 August 31, 2025, these securities amounted to $55,193,425 or 4.4% of net assets. 

<sup>(d)</sup> The Federal Housing Finance Agency ("FHFA") placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies. 

<sup>(e)</sup> Principal amount for accrual purposes is periodically adjusted based on changes in the Consumer Price Index.

<sup>(f)</sup> Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's prospectus. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BNY Mellon Bond Fund** | **BNY Mellon Bond Fund** | **BNY Mellon Bond Fund** | **BNY Mellon Bond Fund** | **BNY Mellon Bond Fund** | **BNY Mellon Bond Fund** |
| **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** |
| Description | Value ($) <br>8/31/2024<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>8/31/2025<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - .5%** | **Registered Investment Companies - .5%** | **Registered Investment Companies - .5%** | **Registered Investment Companies - .5%** | **Registered Investment Companies - .5%** | **Registered Investment Companies - .5%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .5%<br>| 4125136 | 270675940 | (268880730) | 5920346 | 319199 |
| **Investment of Cash Collateral for Securities Loaned - .3%** | **Investment of Cash Collateral for Securities Loaned - .3%** | **Investment of Cash Collateral for Securities Loaned - .3%** | **Investment of Cash Collateral for Securities Loaned - .3%** | **Investment of Cash Collateral for Securities Loaned - .3%** | **Investment of Cash Collateral for Securities Loaned - .3%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .3%<br>| 5565600 | 229607448 | (231155479) | 4017569 | 125808 <br><sup>††</sup><br>|
| **Total - .8%** | **9690736** | **500283388** | **(500036209)** | **9937915** | **445007** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| Includes reinvested dividends/distributions. |
| <sup>††</sup> <br>| Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and <br> other payments to and from borrowers of securities.<br>|

---

See notes to financial statements.

**6**

------

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Intermediate Bond Fund** | **BNY Mellon Intermediate Bond Fund** | **BNY Mellon Intermediate Bond Fund** | **BNY Mellon Intermediate Bond Fund** | **BNY Mellon Intermediate Bond Fund** |
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>| Value ($) |
| **Bonds and Notes — 97.9%** | **Bonds and Notes — 97.9%** | **Bonds and Notes — 97.9%** | **Bonds and Notes — 97.9%** | **Bonds and Notes — 97.9%** |
| **Aerospace & Defense — .6%** | **Aerospace & Defense — .6%** | **Aerospace & Defense — .6%** | **Aerospace & Defense — .6%** | **Aerospace & Defense — .6%** |
| The Boeing Company, Sr. Unscd. Notes | 5.15 | 5/1/2030 | 2375000 | **2436970** |
| **Airlines — 1.3%** | **Airlines — 1.3%** | **Airlines — 1.3%** | **Airlines — 1.3%** | **Airlines — 1.3%** |
| American Airlines Pass-Through Trust, Ser. 2015-1, Cl. A | 3.38 | 5/1/2027 | 2744863 | 2695348 |
| Delta Air Lines Pass-Through Trust, Ser. 2020-1, Cl. AA | 2.00 | 6/10/2028 | 2804121 | 2648192 |
|  |  |  |  | **5343540** |
| **Automobiles & Components — 1.6%** | **Automobiles & Components — 1.6%** | **Automobiles & Components — 1.6%** | **Automobiles & Components — 1.6%** | **Automobiles & Components — 1.6%** |
| General Motors Financial Co., Inc., Gtd. Notes | 5.60 | 6/18/2031 | 3200000 | 3306605 |
| Toyota Motor Credit Corp., Sr. Unscd. Notes | 5.55 | 11/20/2030 | 3250000 | 3443579 |
|  |  |  |  | **6750184** |
| **Banks — 14.3%** | **Banks — 14.3%** | **Banks — 14.3%** | **Banks — 14.3%** | **Banks — 14.3%** |
| Bank of America Corp., Sr. Unscd. Notes | 5.47 | 1/23/2035 | 4500000 | 4651438 |
| Bank of Montreal, Sr. Unscd. Notes<sup>(a)</sup> <br>| 5.27 | 12/11/2026 | 3050000 | 3093564 |
| Barclays PLC, Sub. Notes | 4.84 | 5/9/2028 | 3800000 | 3819649 |
| Citigroup, Inc., Sr. Unscd. Notes | 4.41 | 3/31/2031 | 4625000 | 4616147 |
| Citizens Financial Group, Inc., Sr. Unscd. Notes | 5.25 | 3/5/2031 | 2500000 | 2556619 |
| Comerica, Inc., Sr. Unscd. Notes | 5.98 | 1/30/2030 | 2400000 | 2490529 |
| Cooperatieve Rabobank UA, Gtd. Notes | 3.75 | 7/21/2026 | 3685000 | 3662052 |
| Credit Agricole SA, Sr. Notes<sup>(b)</sup> <br>| 6.32 | 10/3/2029 | 2245000 | 2369121 |
| Deutsche Bank AG, Sr. Notes | 5.00 | 9/11/2030 | 2750000 | 2795190 |
| HSBC Holdings PLC, Sr. Unscd. Notes | 2.87 | 11/22/2032 | 3460000 | 3114579 |
| JPMorgan Chase & Co., Jr. Sub. Notes, Ser. OO<sup>(c)</sup> <br>| 6.50 | 4/1/2030 | 3935000 | 4051370 |
| National Bank of Canada, Gtd. Notes | 5.60 | 12/18/2028 | 1670000 | 1739002 |
| NatWest Group PLC, Sr. Unscd. Notes<sup>(a)</sup> <br>| 4.96 | 8/15/2030 | 2375000 | 2425969 |
| Royal Bank of Canada, Sub. Notes | 4.65 | 1/27/2026 | 3710000 | 3713597 |
| Santander Holdings USA, Inc., Sr. Unscd. Bonds | 7.66 | 11/9/2031 | 3000000 | 3380988 |
| Societe Generale SA, Sr. Notes<sup>(b)</sup> <br>| 6.69 | 1/10/2034 | 2775000 | 2987898 |
| Standard Chartered PLC, Sr. Unscd. Notes<sup>(b)</sup> <br>| 7.77 | 11/16/2028 | 2830000 | 3033946 |
| The Goldman Sachs Group, Inc., Sr. Unscd. Notes | 4.69 | 10/23/2030 | 3500000 | 3539411 |
| Wells Fargo & Co., Sr. Unscd. Notes | 5.24 | 1/24/2031 | 2540000 | 2624584 |
|  |  |  |  | **60665653** |
| **Beverage Products — .8%** | **Beverage Products — .8%** | **Beverage Products — .8%** | **Beverage Products — .8%** | **Beverage Products — .8%** |
| Anheuser-Busch InBev Worldwide, Inc., Gtd. Notes | 4.75 | 1/23/2029 | 3225000 | **3296551** |
| **Diversified Financials — 4.0%** | **Diversified Financials — 4.0%** | **Diversified Financials — 4.0%** | **Diversified Financials — 4.0%** | **Diversified Financials — 4.0%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Gtd. Notes | 4.63 | 9/10/2029 | 3590000 | 3620977 |
| Air Lease Corp., Sr. Unscd. Notes | 5.10 | 3/1/2029 | 2750000 | 2824637 |
| American Express Co., Sr. Unscd. Notes | 5.10 | 2/16/2028 | 1345000 | 1361439 |
| American Express Co., Sr. Unscd. Notes | 6.34 | 10/30/2026 | 2000000 | 2005886 |
| Ares Capital Corp., Sr. Unscd. Notes | 2.88 | 6/15/2027 | 1250000 | 1219076 |
| Ares Capital Corp., Sr. Unscd. Notes | 2.88 | 6/15/2028 | 1725000 | 1646963 |
| CDP Financial, Inc., Gtd. Notes<sup>(b)</sup> <br>| 4.88 | 6/5/2029 | 1350000 | 1401553 |
| Ontario Teachers' Finance Trust, Gtd. Notes<sup>(b)</sup> <br>| 2.00 | 4/16/2031 | 1670000 | 1504956 |
| Ontario Teachers' Finance Trust, Gtd. Notes<sup>(b)</sup> <br>| 4.63 | 4/10/2029 | 1350000 | 1385752 |
|  |  |  |  | **16971239** |

---

**7**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** |
| **Energy — 1.2%** | **Energy — 1.2%** | **Energy — 1.2%** | **Energy — 1.2%** | **Energy — 1.2%** |
| Coterra Energy Operating Co., Sr. Unscd. Notes | 4.38 | 3/15/2029 | 3000000 | 2799749 |
| ONEOK, Inc., Gtd. Notes | 4.00 | 7/13/2027 | 2425000 | 2417390 |
|  |  |  |  | **5217139** |
| **Food Products — .7%** | **Food Products — .7%** | **Food Products — .7%** | **Food Products — .7%** | **Food Products — .7%** |
| Kraft Heinz Foods Co., Gtd. Notes<sup>(a)</sup> <br>| 5.20 | 3/15/2032 | 2815000 | **2877072** |
| **Foreign Governmental — .5%** | **Foreign Governmental — .5%** | **Foreign Governmental — .5%** | **Foreign Governmental — .5%** | **Foreign Governmental — .5%** |
| British Columbia, Sr. Unscd. Notes | 4.20 | 7/6/2033 | 825000 | 818590 |
| Japan Finance Organization for Municipalities, Sr. Unscd. Notes<sup>(b)</sup> <br>| 1.38 | 2/10/2031 | 1670000 | 1453554 |
|  |  |  |  | **2272144** |
| **Health Care — 5.3%** | **Health Care — 5.3%** | **Health Care — 5.3%** | **Health Care — 5.3%** | **Health Care — 5.3%** |
| AbbVie, Inc., Sr. Unscd. Notes | 3.20 | 11/21/2029 | 3925000 | 3783124 |
| Amgen, Inc., Sr. Unscd. Notes | 2.20 | 2/21/2027 | 3960000 | 3855755 |
| Astrazeneca Finance LLC, Gtd. Notes | 1.20 | 5/28/2026 | 2600000 | 2544875 |
| CVS Health Corp., Sr. Unscd. Notes | 4.30 | 3/25/2028 | 3300000 | 3298838 |
| Pfizer Investment Enterprises Pte Ltd., Gtd. Notes | 4.75 | 5/19/2033 | 2820000 | 2826696 |
| Takeda Pharmaceutical Co., Ltd., Sr. Unscd. Notes | 5.30 | 7/5/2034 | 3150000 | 3219574 |
| UnitedHealth Group, Inc., Sr. Unscd. Notes | 4.95 | 1/15/2032 | 2735000 | 2791830 |
|  |  |  |  | **22320692** |
| **Industrial — 1.4%** | **Industrial — 1.4%** | **Industrial — 1.4%** | **Industrial — 1.4%** | **Industrial — 1.4%** |
| Caterpillar Financial Services Corp., Sr. Unscd. Notes | 0.90 | 3/2/2026 | 2350000 | 2311978 |
| John Deere Capital Corp., Sr. Unscd. Notes | 1.05 | 6/17/2026 | 3500000 | 3419774 |
|  |  |  |  | **5731752** |
| **Information Technology — 2.9%** | **Information Technology — 2.9%** | **Information Technology — 2.9%** | **Information Technology — 2.9%** | **Information Technology — 2.9%** |
| Fiserv, Inc., Sr. Unscd. Notes | 3.50 | 7/1/2029 | 3400000 | 3302317 |
| Oracle Corp., Sr. Unscd. Notes | 4.70 | 9/27/2034 | 3390000 | 3278388 |
| Paychex, Inc., Sr. Unscd. Notes | 5.35 | 4/15/2032 | 2985000 | 3089102 |
| Synopsys, Inc., Sr. Unscd. Notes | 5.00 | 4/1/2032 | 2550000 | 2602622 |
|  |  |  |  | **12272429** |
| **Media — .7%** | **Media — .7%** | **Media — .7%** | **Media — .7%** | **Media — .7%** |
| Comcast Corp., Gtd. Notes | 3.40 | 4/1/2030 | 3045000 | **2945541** |
| **Municipal Securities — 2.7%** | **Municipal Securities — 2.7%** | **Municipal Securities — 2.7%** | **Municipal Securities — 2.7%** | **Municipal Securities — 2.7%** |
| New Jersey Turnpike Authority, Revenue Bonds, Refunding, Ser. B | 1.05 | 1/1/2026 | 2500000 | 2475871 |
| New York State Dormitory Authority, Revenue Bonds, Refunding, Ser. C | 1.75 | 3/15/2028 | 4155000 | 3951552 |
| State Board of Administration Finance Corp., Revenue Bonds, Refunding, Ser. <br> A<br>| 1.71 | 7/1/2027 | 5315000 | 5107512 |
|  |  |  |  | **11534935** |
| **Real Estate — .3%** | **Real Estate — .3%** | **Real Estate — .3%** | **Real Estate — .3%** | **Real Estate — .3%** |
| Healthcare Realty Holdings LP, Gtd. Notes | 3.63 | 1/15/2028 | 1500000 | **1472213** |
| **Retailing — .8%** | **Retailing — .8%** | **Retailing — .8%** | **Retailing — .8%** | **Retailing — .8%** |
| The Home Depot, Inc., Sr. Unscd. Notes | 4.85 | 6/25/2031 | 3355000 | **3465616** |
| **Semiconductors & Semiconductor Equipment — 1.3%** | **Semiconductors & Semiconductor Equipment — 1.3%** | **Semiconductors & Semiconductor Equipment — 1.3%** | **Semiconductors & Semiconductor Equipment — 1.3%** | **Semiconductors & Semiconductor Equipment — 1.3%** |
| Broadcom, Inc., Sr. Unscd. Notes<sup>(b)</sup> <br>| 4.00 | 4/15/2029 | 3325000 | 3303633 |
| Foundry JV Holdco LLC, Sr. Scd. Notes<sup>(b)</sup> <br>| 5.88 | 1/25/2034 | 2000000 | 2055224 |
|  |  |  |  | **5358857** |
| **Telecommunication Services — 3.8%** | **Telecommunication Services — 3.8%** | **Telecommunication Services — 3.8%** | **Telecommunication Services — 3.8%** | **Telecommunication Services — 3.8%** |
| AT&T, Inc., Sr. Unscd. Notes | 4.30 | 2/15/2030 | 4250000 | 4257419 |
| Cisco Systems, Inc., Sr. Unscd. Notes | 4.95 | 2/26/2031 | 3200000 | 3313781 |
| Motorola Solutions, Inc., Sr. Unscd. Notes | 4.60 | 5/23/2029 | 2420000 | 2447099 |

---

**8**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** |
| **Telecommunication Services — 3.8% (continued)** | **Telecommunication Services — 3.8% (continued)** | **Telecommunication Services — 3.8% (continued)** | **Telecommunication Services — 3.8% (continued)** | **Telecommunication Services — 3.8% (continued)** |
| T-Mobile USA, Inc., Gtd. Notes | 3.88 | 4/15/2030 | 4000000 | 3918786 |
| Verizon Communications, Inc., Sr. Unscd. Notes | 4.50 | 8/10/2033 | 2165000 | 2118668 |
|  |  |  |  | **16055753** |
| **U.S. Government Agencies Collateralized Mortgage Obligations — .6%** | **U.S. Government Agencies Collateralized Mortgage Obligations — .6%** | **U.S. Government Agencies Collateralized Mortgage Obligations — .6%** | **U.S. Government Agencies Collateralized Mortgage Obligations — .6%** | **U.S. Government Agencies Collateralized Mortgage Obligations — .6%** |
| Federal National Mortgage Association, REMIC, Ser. 2013-39, Cl. UP<sup>(d)</sup> <br>| 2.50 | 5/25/2028 | 2428806 | **2381155** |
| **U.S. Government Agencies Collateralized Municipal-Backed Securities — .5%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .5%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .5%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .5%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .5%** |
| Government National Mortgage Association, Ser. 2012-135, Cl. AE | 1.83 | 12/16/2052 | 2419921 | **2056855** |
| **U.S. Government Agencies Mortgage-Backed — 1.3%** | **U.S. Government Agencies Mortgage-Backed — 1.3%** | **U.S. Government Agencies Mortgage-Backed — 1.3%** | **U.S. Government Agencies Mortgage-Backed — 1.3%** | **U.S. Government Agencies Mortgage-Backed — 1.3%** |
| Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: |
| 3.50%, 6/1/2035<sup>(d)</sup> <br>|  |  | 3562883 | 3508262 |
| 4.50%, 2/1/2034<sup>(d)</sup> <br>|  |  | 95661 | 96995 |
| Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: |
| 2.91%, 4/1/26<sup>(d)</sup> <br>|  |  | 2000000 | 1978847 |
|  |  |  |  | **5584104** |
| **U.S. Government Agencies Obligations — 6.9%** | **U.S. Government Agencies Obligations — 6.9%** | **U.S. Government Agencies Obligations — 6.9%** | **U.S. Government Agencies Obligations — 6.9%** | **U.S. Government Agencies Obligations — 6.9%** |
| Federal Farm Credit Banks Funding Corp., Bonds | 4.70 | 3/5/2029 | 4035000 | 4045224 |
| Federal Farm Credit Banks Funding Corp., Bonds | 5.00 | 7/7/2032 | 4320000 | 4336014 |
| Federal Home Loan Banks, Bonds | 5.00 | 6/18/2029 | 1650000 | 1660397 |
| Federal Home Loan Banks, Bonds | 5.00 | 4/21/2032 | 6565000 | 6577886 |
| Federal Home Loan Banks, Bonds, Ser. 1 | 3.00 | 3/25/2027 | 6800000 | 6716154 |
| Federal Home Loan Mortgage Corp., Notes<sup>(d)</sup> <br>| 5.00 | 1/14/2030 | 5750000 | 5755266 |
|  |  |  |  | **29090941** |
| **U.S. Treasury Securities — 43.8%** | **U.S. Treasury Securities — 43.8%** | **U.S. Treasury Securities — 43.8%** | **U.S. Treasury Securities — 43.8%** | **U.S. Treasury Securities — 43.8%** |
| U.S. Treasury Notes | 1.63 | 8/15/2029 | 2500000 | 2321289 |
| U.S. Treasury Notes<sup>(a)</sup> <br>| 3.38 | 9/15/2027 | 12000000 | 11945391 |
| U.S. Treasury Notes | 3.38 | 5/15/2033 | 5000000 | 4793555 |
| U.S. Treasury Notes | 3.50 | 4/30/2028 | 2500000 | 2494189 |
| U.S. Treasury Notes | 3.50 | 9/30/2029 | 2255000 | 2243329 |
| U.S. Treasury Notes<sup>(a)</sup> <br>| 3.63 | 8/31/2029 | 9750000 | 9747143 |
| U.S. Treasury Notes | 3.75 | 8/31/2031 | 11250000 | 11207812 |
| U.S. Treasury Notes<sup>(a)</sup> <br>| 3.88 | 3/15/2028 | 2250000 | 2266348 |
| U.S. Treasury Notes | 3.88 | 12/31/2029 | 8740000 | 8816816 |
| U.S. Treasury Notes | 3.88 | 4/30/2030 | 4000000 | 4034531 |
| U.S. Treasury Notes<sup>(a)</sup> <br>| 3.88 | 7/31/2030 | 2250000 | 2268457 |
| U.S. Treasury Notes | 3.88 | 8/15/2034 | 16000000 | 15688437 |
| U.S. Treasury Notes | 4.00 | 2/29/2028 | 7000000 | 7068086 |
| U.S. Treasury Notes | 4.00 | 7/31/2029 | 2750000 | 2786792 |
| U.S. Treasury Notes | 4.13 | 11/15/2027 | 6250000 | 6317261 |
| U.S. Treasury Notes | 4.13 | 7/31/2028 | 11250000 | 11416553 |
| U.S. Treasury Notes | 4.13 | 7/31/2031 | 14000000 | 14232148 |
| U.S. Treasury Notes | 4.13 | 5/31/2032 | 2000000 | 2025547 |
| U.S. Treasury Notes | 4.25 | 1/15/2028 | 6250000 | 6341309 |
| U.S. Treasury Notes | 4.25 | 5/15/2035 | 6750000 | 6772676 |
| U.S. Treasury Notes | 4.38 | 8/31/2028 | 17500000 | 17888965 |
| U.S. Treasury Notes | 4.38 | 5/15/2034 | 15000000 | 15296191 |
| U.S. Treasury Notes | 4.50 | 4/15/2027 | 3250000 | 3290879 |
| U.S. Treasury Notes | 4.50 | 11/15/2033 | 8250000 | 8509102 |
| U.S. Treasury Notes | 4.63 | 9/30/2030 | 5500000 | 5729668 |
|  |  |  |  | **185502474** |

---

**9**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** | **BNY Mellon Intermediate Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** | **Bonds and Notes — 97.9% (continued)** |
| **Utilities — .6%** | **Utilities — .6%** | **Utilities — .6%** | **Utilities — .6%** | **Utilities — .6%** |
| Black Hills Corp., Sr. Unscd. Notes | 3.05 | 10/15/2029 | 2750000 | **2603286** |
| **Total Bonds and Notes** <br>(cost $413,270,476)<br>|  |  |  | **414207095** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>| Shares |  |
| **Investment Companies — 1.4%** | **Investment Companies — 1.4%** | **Investment Companies — 1.4%** | **Investment Companies — 1.4%** |
| **Registered Investment Companies — 1.4%** | **Registered Investment Companies — 1.4%** | **Registered Investment Companies — 1.4%** | **Registered Investment Companies — 1.4%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(e)</sup> <br>(cost $5,808,795)<br>| 4.41 | 5808795 | **5808795** |
| **Investment of Cash Collateral for Securities Loaned — .2%** |  |  |  |
| **Registered Investment Companies — .2%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(e)</sup> <br>(cost $888,983)<br>| 4.41 | 888983 | **888983** |
| **Total Investments** (cost $419,968,254) | **Total Investments** (cost $419,968,254) | **99.5%** | **420904873** |
| **Cash and Receivables (Net)** | **Cash and Receivables (Net)** | **.5%** | **2109829** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **423014702** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

REMIC—Real Estate Mortgage Investment Conduit<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security, or portion thereof, on loan. At August 31, 2025, the value of the fund's securities on loan was $21,498,993 and the value of the collateral was $22,221,881, consisting of cash collateral of $888,983 and U.S. Government & Agency securities valued at $21,332,898. In addition, the value of collateral may include pending sales that are also on loan. 

<sup>(b)</sup> 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 August 31, 2025, these securities amounted to $19,495,637 or 4.6% of net assets. 

<sup>(c)</sup> Security is a perpetual bond with no specified maturity date. Maturity date shown is next reset date of the bond.

<sup>(d)</sup> The Federal Housing Finance Agency ("FHFA") placed the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association into conservatorship with FHFA as the conservator. As such, the FHFA oversees the continuing affairs of these companies. 

<sup>(e)</sup> Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's prospectus. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BNY Mellon Intermediate Bond Fund** | **BNY Mellon Intermediate Bond Fund** | **BNY Mellon Intermediate Bond Fund** | **BNY Mellon Intermediate Bond Fund** | **BNY Mellon Intermediate Bond Fund** | **BNY Mellon Intermediate Bond Fund** |
| **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** |
| Description | Value ($) <br>8/31/2024<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>8/31/2025<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - 1.4%** | **Registered Investment Companies - 1.4%** | **Registered Investment Companies - 1.4%** | **Registered Investment Companies - 1.4%** | **Registered Investment Companies - 1.4%** | **Registered Investment Companies - 1.4%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - 1.4%<br>| 2051663 | 99947741 | (96190609) | 5808795 | 105105 |
| **Investment of Cash Collateral for Securities Loaned - .2%** | **Investment of Cash Collateral for Securities Loaned - .2%** | **Investment of Cash Collateral for Securities Loaned - .2%** | **Investment of Cash Collateral for Securities Loaned - .2%** | **Investment of Cash Collateral for Securities Loaned - .2%** | **Investment of Cash Collateral for Securities Loaned - .2%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .2%<br>| 6913017 | 89372234 | (95396268) | 888983 | 56096 <br><sup>††</sup><br>|
| **Total - 1.6%** | **8964680** | **189319975** | **(191586877)** | **6697778** | **161201** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| Includes reinvested dividends/distributions. |
| <sup>††</sup> <br>| Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and <br> other payments to and from borrowers of securities.<br>|

---

See notes to financial statements.

**10**

------

SCHEDULES OF INVESTMENTS

August 31, 2025

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Corporate Bond Fund** | **BNY Mellon Corporate Bond Fund** | **BNY Mellon Corporate Bond Fund** | **BNY Mellon Corporate Bond Fund** | **BNY Mellon Corporate Bond Fund** |
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>| Value ($) |
| **Bonds and Notes — 97.7%** | **Bonds and Notes — 97.7%** | **Bonds and Notes — 97.7%** | **Bonds and Notes — 97.7%** | **Bonds and Notes — 97.7%** |
| **Aerospace & Defense — 1.6%** | **Aerospace & Defense — 1.6%** | **Aerospace & Defense — 1.6%** | **Aerospace & Defense — 1.6%** | **Aerospace & Defense — 1.6%** |
| RTX Corp., Sr. Unscd. Notes | 2.25 | 7/1/2030 | 2500000 | 2286964 |
| The Boeing Company, Sr. Unscd. Notes | 5.15 | 5/1/2030 | 3000000 | 3078278 |
| The Boeing Company, Sr. Unscd. Notes | 6.53 | 5/1/2034 | 1000000 | 1095772 |
|  |  |  |  | **6461014** |
| **Airlines — 3.1%** | **Airlines — 3.1%** | **Airlines — 3.1%** | **Airlines — 3.1%** | **Airlines — 3.1%** |
| Air Canada Pass-Through Trust, Ser. 2015-1, Cl. A<sup>(a)</sup> <br>| 3.60 | 3/15/2027 | 1650380 | 1618228 |
| American Airlines Pass-Through Trust, Ser. 2015-1, Cl. A | 3.38 | 5/1/2027 | 2697408 | 2648749 |
| JetBlue Airways Corp. Pass-Through Trust, Ser. 2019-1, Cl. A | 2.95 | 5/15/2028 | 3719750 | 3433926 |
| United Airlines Pass-Through Trust, Ser. 2016-2, Cl. A | 3.10 | 10/7/2028 | 5466679 | 5161872 |
|  |  |  |  | **12862775** |
| **Automobiles & Components — 1.6%** | **Automobiles & Components — 1.6%** | **Automobiles & Components — 1.6%** | **Automobiles & Components — 1.6%** | **Automobiles & Components — 1.6%** |
| Ford Motor Credit Co. LLC, Sr. Unscd. Notes | 7.12 | 11/7/2033 | 3000000 | 3138076 |
| General Motors Financial Co., Inc., Sr. Unscd. Notes | 3.10 | 1/12/2032 | 4000000 | 3558270 |
|  |  |  |  | **6696346** |
| **Banks — 23.2%** | **Banks — 23.2%** | **Banks — 23.2%** | **Banks — 23.2%** | **Banks — 23.2%** |
| AIB Group PLC, Sr. Unscd. Notes<sup>(a)</sup> <br>| 6.61 | 9/13/2029 | 3000000 | 3192276 |
| BAC Capital Trust XIV, Gtd. Notes, Ser. G, (3 Month TSFR +0.66%)<sup>(b),(c),(d)</sup> <br>| 4.98 | 9/15/2025 | 3000000 | 2500920 |
| Banco Bilbao Vizcaya Argentaria SA, Sr. Notes | 5.38 | 3/13/2029 | 2500000 | 2587017 |
| Bank of America Corp., Jr. Sub. Notes, Ser. FF<sup>(b),(c)</sup> <br>| 5.88 | 3/15/2028 | 2500000 | 2531775 |
| Bank of America Corp., Jr. Sub. Notes, Ser. TT<sup>(b)</sup> <br>| 6.13 | 4/27/2027 | 1000000 | 1011795 |
| Bank of Ireland Group PLC, Sr. Unscd. Notes<sup>(a)</sup> <br>| 2.03 | 9/30/2027 | 2500000 | 2435538 |
| Barclays PLC, Jr. Sub. Notes<sup>(b),(c)</sup> <br>| 8.00 | 9/15/2029 | 2000000 | 2109200 |
| Barclays PLC, Sub. Notes<sup>(c)</sup> <br>| 7.12 | 6/27/2034 | 1750000 | 1935922 |
| BNP Paribas SA, Sr. Notes<sup>(a)</sup> <br>| 1.32 | 1/13/2027 | 1500000 | 1482647 |
| BPCE SA, Sub. Notes<sup>(a)</sup> <br>| 3.12 | 10/19/2032 | 4000000 | 3535720 |
| Citigroup, Inc., Sub. Notes | 6.17 | 5/25/2034 | 3500000 | 3688572 |
| Citizens Financial Group, Inc., Sub. Notes | 3.75 | 2/11/2031 | 5000000 | 4916065 |
| Comerica, Inc., Sr. Unscd. Notes | 5.98 | 1/30/2030 | 3000000 | 3113161 |
| Credit Agricole SA, Sub. Notes<sup>(a)</sup> <br>| 4.00 | 1/10/2033 | 3500000 | 3435281 |
| Deutsche Bank AG, Sub. Notes | 4.88 | 12/1/2032 | 4000000 | 3987283 |
| HSBC Holdings PLC, Sub. Notes | 7.40 | 11/13/2034 | 3500000 | 3945173 |
| JPMorgan Chase & Co., Sr. Unscd. Notes | 5.34 | 1/23/2035 | 3500000 | 3596416 |
| Lloyds Banking Group PLC, Sr. Unscd. Notes | 5.72 | 6/5/2030 | 3000000 | 3139568 |
| M&T Bank Corp., Jr. Sub. Notes, Ser. G<sup>(b)</sup> <br>| 7.30 | 2/1/2026 | 5000000 | 5056675 |
| Morgan Stanley, Sub. Notes | 5.95 | 1/19/2038 | 3500000 | 3637963 |
| NatWest Group PLC, Sr. Unscd. Notes | 5.08 | 1/27/2030 | 3250000 | 3322288 |
| Nordea Bank Abp, Jr. Sub. Notes<sup>(a),(b),(c)</sup> <br>| 6.63 | 3/26/2026 | 3965000 | 3997731 |
| Santander Holdings USA, Inc., Sr. Unscd. Bonds | 7.66 | 11/9/2031 | 3500000 | 3944486 |
| Societe Generale SA, Sr. Notes<sup>(a)</sup> <br>| 6.69 | 1/10/2034 | 3000000 | 3230160 |
| The Bank of Nova Scotia, Jr. Sub. Notes, (3 Month TSFR +2.91%)<sup>(b),(c),(d)</sup> <br>| 7.23 | 10/12/2025 | 4000000 | 3987492 |
| The Goldman Sachs Group, Inc., Sub. Notes | 6.75 | 10/1/2037 | 3000000 | 3335912 |
| The Toronto-Dominion Bank, Sub. Notes | 3.63 | 9/15/2031 | 3000000 | 2971458 |
| Wells Fargo & Co., Sr. Unscd. Notes | 5.21 | 12/3/2035 | 3250000 | 3278695 |
| Westpac Banking Corp., Sub. Notes | 4.32 | 11/23/2031 | 3000000 | 2989551 |
| Zions Bancorp NA, Sub. Notes | 3.25 | 10/29/2029 | 3550000 | 3295260 |
|  |  |  |  | **96192000** |

---

**11**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** |
| **Beverage Products — .7%** | **Beverage Products — .7%** | **Beverage Products — .7%** | **Beverage Products — .7%** | **Beverage Products — .7%** |
| Constellation Brands, Inc., Gtd. Notes | 3.15 | 8/1/2029 | 3000000 | **2879777** |
| **Building Materials — 1.0%** | **Building Materials — 1.0%** | **Building Materials — 1.0%** | **Building Materials — 1.0%** | **Building Materials — 1.0%** |
| CRH America Finance, Inc., Gtd. Notes<sup>(a)</sup> <br>| 3.40 | 5/9/2027 | 2000000 | 1973215 |
| Masco Corp., Sr. Unscd. Notes | 1.50 | 2/15/2028 | 2500000 | 2341134 |
|  |  |  |  | **4314349** |
| **Chemicals — 1.4%** | **Chemicals — 1.4%** | **Chemicals — 1.4%** | **Chemicals — 1.4%** | **Chemicals — 1.4%** |
| Huntsman International LLC, Sr. Unscd. Notes | 4.50 | 5/1/2029 | 3000000 | 2887504 |
| Yara International ASA, Sr. Unscd. Notes<sup>(a)</sup> <br>| 4.75 | 6/1/2028 | 3000000 | 3023614 |
|  |  |  |  | **5911118** |
| **Commercial & Professional Services — .7%** | **Commercial & Professional Services — .7%** | **Commercial & Professional Services — .7%** | **Commercial & Professional Services — .7%** | **Commercial & Professional Services — .7%** |
| Global Payments, Inc., Sr. Unscd. Notes | 3.20 | 8/15/2029 | 3000000 | **2850009** |
| **Consumer Discretionary — 3.5%** | **Consumer Discretionary — 3.5%** | **Consumer Discretionary — 3.5%** | **Consumer Discretionary — 3.5%** | **Consumer Discretionary — 3.5%** |
| Las Vegas Sands Corp., Sr. Unscd. Notes | 5.63 | 6/15/2028 | 3000000 | 3072270 |
| Leggett & Platt, Inc., Sr. Unscd. Notes<sup>(c)</sup> <br>| 4.40 | 3/15/2029 | 2000000 | 1967000 |
| Marriott International, Inc., Sr. Unscd. Notes, Ser. II | 2.75 | 10/15/2033 | 3250000 | 2785338 |
| Meritage Homes Corp., Gtd. Notes<sup>(c)</sup> <br>| 5.65 | 3/15/2035 | 2500000 | 2525600 |
| Royal Caribbean Cruises Ltd., Sr. Unscd. Notes<sup>(a)</sup> <br>| 6.25 | 3/15/2032 | 3000000 | 3098115 |
| Warnermedia Holdings, Inc., Gtd. Notes<sup>(c)</sup> <br>| 4.28 | 3/15/2032 | 1242000 | 1072622 |
|  |  |  |  | **14520945** |
| **Diversified Financials — 5.7%** | **Diversified Financials — 5.7%** | **Diversified Financials — 5.7%** | **Diversified Financials — 5.7%** | **Diversified Financials — 5.7%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Gtd. Notes | 5.75 | 6/6/2028 | 1750000 | 1816255 |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Gtd. Notes | 6.95 | 3/10/2055 | 2000000 | 2095154 |
| Aircastle Ltd., Gtd. Notes<sup>(a)</sup> <br>| 2.85 | 1/26/2028 | 2050000 | 1973856 |
| Aircastle Ltd./Aircastle Ireland DAC, Gtd. Notes<sup>(a)</sup> <br>| 5.00 | 9/15/2030 | 1000000 | 1008522 |
| Ares Capital Corp., Sr. Unscd. Notes | 2.88 | 6/15/2028 | 4000000 | 3819044 |
| BlackRock TCP Capital Corp., Sr. Unscd. Notes | 2.85 | 2/9/2026 | 3000000 | 2958458 |
| Blackstone Secured Lending Fund, Sr. Unscd. Notes | 2.85 | 9/30/2028 | 4000000 | 3780981 |
| Blue Owl Capital Corp., Sr. Unscd. Notes | 2.63 | 1/15/2027 | 3500000 | 3395178 |
| Blue Owl Credit Income Corp., Sr. Unscd. Notes | 6.60 | 9/15/2029 | 2000000 | 2080865 |
| Blue Owl Finance LLC, Gtd. Notes | 4.38 | 2/15/2032 | 1000000 | 952651 |
|  |  |  |  | **23880964** |
| **Electronic Components — 1.3%** | **Electronic Components — 1.3%** | **Electronic Components — 1.3%** | **Electronic Components — 1.3%** | **Electronic Components — 1.3%** |
| Arrow Electronics, Inc., Sr. Unscd. Notes | 2.95 | 2/15/2032 | 3000000 | 2650530 |
| Jabil, Inc., Sr. Unscd. Notes | 3.60 | 1/15/2030 | 3000000 | 2883384 |
|  |  |  |  | **5533914** |
| **Energy — 12.3%** | **Energy — 12.3%** | **Energy — 12.3%** | **Energy — 12.3%** | **Energy — 12.3%** |
| Cenovus Energy, Inc., Sr. Unscd. Notes<sup>(c)</sup> <br>| 2.65 | 1/15/2032 | 3000000 | 2634965 |
| Cheniere Corpus Christi Holdings LLC, Sr. Scd. Notes<sup>(a)</sup> <br>| 2.74 | 12/31/2039 | 2000000 | 1658135 |
| Cheniere Energy, Inc., Sr. Unscd. Notes | 4.63 | 10/15/2028 | 2000000 | 1999075 |
| Diamondback Energy, Inc., Gtd. Notes | 5.40 | 4/18/2034 | 2750000 | 2778913 |
| El Paso Natural Gas Co. LLC, Gtd. Notes<sup>(a)</sup> <br>| 3.50 | 2/15/2032 | 3000000 | 2741908 |
| Energy Transfer LP, Sr. Unscd. Bonds | 5.50 | 6/1/2027 | 1250000 | 1271730 |
| Energy Transfer LP, Sr. Unscd. Notes | 4.15 | 9/15/2029 | 1500000 | 1488330 |
| Enterprise Products Operating LLC, Gtd. Notes | 5.35 | 1/31/2033 | 2000000 | 2074742 |
| EQT Corp., Sr. Unscd. Notes<sup>(c)</sup> <br>| 5.75 | 2/1/2034 | 3000000 | 3107045 |
| Helmerich & Payne, Inc., Sr. Unscd. Notes<sup>(c)</sup> <br>| 2.90 | 9/29/2031 | 3000000 | 2616214 |
| HF Sinclair Corp., Sr. Unscd. Notes | 5.50 | 9/1/2032 | 2000000 | 2007669 |
| Kinder Morgan, Inc., Gtd. Bonds | 5.85 | 6/1/2035 | 2000000 | 2078878 |
| MPLX LP, Sr. Unscd. Notes | 4.95 | 9/1/2032 | 3500000 | 3481051 |
| Ovintiv, Inc., Gtd. Notes | 6.25 | 7/15/2033 | 2750000 | 2863107 |

---

**12**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** |
| **Energy — 12.3% (continued)** | **Energy — 12.3% (continued)** | **Energy — 12.3% (continued)** | **Energy — 12.3% (continued)** | **Energy — 12.3% (continued)** |
| Petroleos Mexicanos, Gtd. Notes | 6.49 | 1/23/2027 | 3500000 | 3514752 |
| Sabal Trail Transmission LLC, Sr. Unscd. Notes<sup>(a)</sup> <br>| 4.25 | 5/1/2028 | 3000000 | 2984067 |
| Targa Resources Corp., Gtd. Notes | 6.13 | 3/15/2033 | 3000000 | 3174372 |
| The Williams Companies, Inc., Sr. Unscd. Notes | 3.75 | 6/15/2027 | 2500000 | 2481252 |
| Transcontinental Gas Pipe Line Co. LLC, Sr. Unscd. Notes | 3.25 | 5/15/2030 | 3000000 | 2855201 |
| Valero Energy Corp., Sr. Unscd. Notes | 2.80 | 12/1/2031 | 2500000 | 2259919 |
| Var Energi ASA, Sr. Unscd. Notes<sup>(a)</sup> <br>| 7.50 | 1/15/2028 | 1000000 | 1063480 |
|  |  |  |  | **51134805** |
| **Environmental Control — .6%** | **Environmental Control — .6%** | **Environmental Control — .6%** | **Environmental Control — .6%** | **Environmental Control — .6%** |
| Waste Connections, Inc., Sr. Unscd. Notes | 3.50 | 5/1/2029 | 2500000 | **2461917** |
| **Food Products — 1.8%** | **Food Products — 1.8%** | **Food Products — 1.8%** | **Food Products — 1.8%** | **Food Products — 1.8%** |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL, Gtd. Notes<sup>(c)</sup> <br>| 3.00 | 2/2/2029 | 2000000 | 1914274 |
| Sysco Corp., Gtd. Notes | 5.10 | 9/23/2030 | 3000000 | 3094703 |
| The Kroger Company, Sr. Unscd. Notes | 5.00 | 9/15/2034 | 2500000 | 2493096 |
|  |  |  |  | **7502073** |
| **Foreign Governmental — .6%** | **Foreign Governmental — .6%** | **Foreign Governmental — .6%** | **Foreign Governmental — .6%** | **Foreign Governmental — .6%** |
| The Morongo Band of Mission Indians, Unscd. Bonds<sup>(a)</sup> <br>| 7.00 | 10/1/2039 | 2500000 | **2667539** |
| **Health Care — 7.4%** | **Health Care — 7.4%** | **Health Care — 7.4%** | **Health Care — 7.4%** | **Health Care — 7.4%** |
| AbbVie, Inc., Sr. Unscd. Notes | 3.20 | 11/21/2029 | 2250000 | 2168670 |
| AbbVie, Inc., Sr. Unscd. Notes | 4.25 | 11/21/2049 | 1250000 | 1019258 |
| Amgen, Inc., Sr. Unscd. Notes | 5.25 | 3/2/2033 | 3250000 | 3337506 |
| Centene Corp., Sr. Unscd. Notes | 2.50 | 3/1/2031 | 3500000 | 2984564 |
| CVS Health Corp., Sr. Unscd. Notes | 4.78 | 3/25/2038 | 3750000 | 3452483 |
| GE HealthCare Technologies, Inc., Sr. Unscd. Notes | 4.80 | 8/14/2029 | 3000000 | 3063642 |
| HCA, Inc., Gtd. Notes | 3.63 | 3/15/2032 | 1500000 | 1395468 |
| HCA, Inc., Gtd. Notes | 5.75 | 3/1/2035 | 2000000 | 2058317 |
| Pfizer Investment Enterprises Pte Ltd., Gtd. Notes | 5.30 | 5/19/2053 | 3000000 | 2796955 |
| Royalty Pharma PLC, Gtd. Notes<sup>(a),(c)</sup> <br>| 2.20 | 9/2/2030 | 3000000 | 2690315 |
| Takeda Pharmaceutical Co. Ltd., Sr. Unscd. Notes | 5.00 | 11/26/2028 | 3000000 | 3071110 |
| The Cigna Group, Gtd. Notes | 4.38 | 10/15/2028 | 2500000 | 2513953 |
|  |  |  |  | **30552241** |
| **Industrial — 1.9%** | **Industrial — 1.9%** | **Industrial — 1.9%** | **Industrial — 1.9%** | **Industrial — 1.9%** |
| Carlisle Cos., Inc., Sr. Unscd. Notes | 3.75 | 12/1/2027 | 2500000 | 2478686 |
| Huntington Ingalls Industries, Inc., Gtd. Notes | 3.48 | 12/1/2027 | 3000000 | 2947090 |
| Oshkosh Corp., Sr. Unscd. Notes | 4.60 | 5/15/2028 | 2500000 | 2518592 |
|  |  |  |  | **7944368** |
| **Information Technology — 2.8%** | **Information Technology — 2.8%** | **Information Technology — 2.8%** | **Information Technology — 2.8%** | **Information Technology — 2.8%** |
| Fiserv, Inc., Sr. Unscd. Notes | 3.50 | 7/1/2029 | 3000000 | 2913809 |
| Oracle Corp., Sr. Unscd. Notes | 6.25 | 11/9/2032 | 3000000 | 3243122 |
| Paychex, Inc., Sr. Unscd. Notes | 5.60 | 4/15/2035 | 2750000 | 2847543 |
| Synopsys, Inc., Sr. Unscd. Notes | 5.00 | 4/1/2032 | 2590000 | 2643447 |
|  |  |  |  | **11647921** |
| **Insurance — 3.0%** | **Insurance — 3.0%** | **Insurance — 3.0%** | **Insurance — 3.0%** | **Insurance — 3.0%** |
| Assured Guaranty US Holdings, Inc., Gtd. Notes<sup>(c)</sup> <br>| 3.15 | 6/15/2031 | 3250000 | 3046564 |
| MetLife, Inc., Jr. Sub. Notes, Ser. D<sup>(b),(c)</sup> <br>| 5.88 | 3/15/2028 | 3500000 | 3563788 |
| Prudential Financial, Inc., Jr. Sub. Notes | 5.70 | 9/15/2048 | 3000000 | 3050124 |
| Reinsurance Group of America, Inc., Sr. Unscd. Notes | 3.90 | 5/15/2029 | 3000000 | 2963267 |
|  |  |  |  | **12623743** |
| **Internet Software & Services — .7%** | **Internet Software & Services — .7%** | **Internet Software & Services — .7%** | **Internet Software & Services — .7%** | **Internet Software & Services — .7%** |
| Meta Platforms, Inc., Sr. Unscd. Notes | 5.60 | 5/15/2053 | 2750000 | **2720718** |

---

**13**

------

SCHEDULES OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** |
| **Materials — .5%** | **Materials — .5%** | **Materials — .5%** | **Materials — .5%** | **Materials — .5%** |
| WRKCo, Inc., Gtd. Notes | 4.00 | 3/15/2028 | 2000000 | **1991532** |
| **Media — .6%** | **Media — .6%** | **Media — .6%** | **Media — .6%** | **Media — .6%** |
| Charter Communications Operating LLC/Charter Communications Operating <br> Capital, Sr. Scd. Notes<br>| 4.40 | 4/1/2033 | 2500000 | **2351707** |
| **Metals & Mining — 2.4%** | **Metals & Mining — 2.4%** | **Metals & Mining — 2.4%** | **Metals & Mining — 2.4%** | **Metals & Mining — 2.4%** |
| Anglo American Capital PLC, Gtd. Notes<sup>(a),(c)</sup> <br>| 4.50 | 3/15/2028 | 3000000 | 3014148 |
| Glencore Funding LLC, Gtd. Notes<sup>(a)</sup> <br>| 5.40 | 5/8/2028 | 1500000 | 1542951 |
| Nucor Corp., Sr. Unscd. Notes | 3.13 | 4/1/2032 | 2750000 | 2517347 |
| Rio Tinto Finance USA PLC, Gtd. Notes | 4.88 | 3/14/2030 | 2750000 | 2820740 |
|  |  |  |  | **9895186** |
| **Municipal Securities — 3.2%** | **Municipal Securities — 3.2%** | **Municipal Securities — 3.2%** | **Municipal Securities — 3.2%** | **Municipal Securities — 3.2%** |
| Detroit, GO, Ser. B-1 | 4.00 | 4/1/2044 | 4971590 | 3907504 |
| Golden State Tobacco Securitization Corp., Revenue Bonds, Refunding, Ser. A-1 | 3.49 | 6/1/2036 | 4000000 | 3356431 |
| New York State Dormitory Authority, Revenue Bonds (Montefiore Obligated <br> Group) (Insured; Assured Guaranty Corp.) Ser. B<br>| 4.95 | 8/1/2048 | 2500000 | 2158715 |
| Oklahoma Development Finance Authority, Revenue Bonds (OU Medicine <br> Project) Ser. C<br>| 5.45 | 8/15/2028 | 3750000 | 3679057 |
|  |  |  |  | **13101707** |
| **Real Estate — 3.5%** | **Real Estate — 3.5%** | **Real Estate — 3.5%** | **Real Estate — 3.5%** | **Real Estate — 3.5%** |
| Cousins Properties LP, Gtd. Notes | 5.38 | 2/15/2032 | 2000000 | 2042940 |
| Extra Space Storage LP, Gtd. Notes | 2.35 | 3/15/2032 | 2500000 | 2145830 |
| Healthcare Realty Holdings LP, Gtd. Notes<sup>(c)</sup> <br>| 3.10 | 2/15/2030 | 3000000 | 2822918 |
| Healthpeak OP LLC, Gtd. Notes | 2.13 | 12/1/2028 | 2250000 | 2106198 |
| Phillips Edison Grocery Center Operating Partnership I LP, Gtd. Notes | 2.63 | 11/15/2031 | 3000000 | 2648279 |
| Realty Income Corp., Gtd. Notes | 4.00 | 7/15/2029 | 3000000 | 2980031 |
|  |  |  |  | **14746196** |
| **Retailing — 3.6%** | **Retailing — 3.6%** | **Retailing — 3.6%** | **Retailing — 3.6%** | **Retailing — 3.6%** |
| 7-Eleven, Inc., Sr. Unscd. Notes<sup>(a)</sup> <br>| 1.80 | 2/10/2031 | 2250000 | 1942529 |
| Alimentation Couche-Tard, Inc., Gtd. Notes<sup>(a)</sup> <br>| 3.55 | 7/26/2027 | 3000000 | 2968396 |
| AutoNation, Inc., Sr. Unscd. Notes | 3.85 | 3/1/2032 | 2000000 | 1863079 |
| Dick's Sporting Goods, Inc., Sr. Unscd. Notes<sup>(c)</sup> <br>| 3.15 | 1/15/2032 | 3000000 | 2728196 |
| Dollar Tree, Inc., Sr. Unscd. Notes | 2.65 | 12/1/2031 | 3000000 | 2673046 |
| O'Reilly Automotive, Inc., Sr. Unscd. Notes | 4.70 | 6/15/2032 | 2750000 | 2755190 |
|  |  |  |  | **14930436** |
| **Semiconductors & Semiconductor Equipment — 3.7%** | **Semiconductors & Semiconductor Equipment — 3.7%** | **Semiconductors & Semiconductor Equipment — 3.7%** | **Semiconductors & Semiconductor Equipment — 3.7%** | **Semiconductors & Semiconductor Equipment — 3.7%** |
| Broadcom, Inc., Sr. Unscd. Notes<sup>(a)</sup> <br>| 3.14 | 11/15/2035 | 2000000 | 1692973 |
| Broadcom, Inc., Sr. Unscd. Notes<sup>(a)</sup> <br>| 3.47 | 4/15/2034 | 3000000 | 2692227 |
| Foundry JV Holdco LLC, Sr. Scd. Notes<sup>(a)</sup> <br>| 5.88 | 1/25/2034 | 2500000 | 2569029 |
| Intel Corp., Sr. Unscd. Notes | 5.60 | 2/21/2054 | 3000000 | 2730416 |
| Microchip Technology, Inc., Gtd. Notes | 5.05 | 3/15/2029 | 2750000 | 2804980 |
| NXP BV/NXP Funding LLC/NXP USA, Inc., Gtd. Notes<sup>(c)</sup> <br>| 5.00 | 1/15/2033 | 3000000 | 3004701 |
|  |  |  |  | **15494326** |
| **Technology Hardware & Equipment — .9%** | **Technology Hardware & Equipment — .9%** | **Technology Hardware & Equipment — .9%** | **Technology Hardware & Equipment — .9%** | **Technology Hardware & Equipment — .9%** |
| Dell International LLC/EMC Corp., Gtd. Notes | 8.10 | 7/15/2036 | 3000000 | **3640975** |
| **Telecommunication Services — 3.1%** | **Telecommunication Services — 3.1%** | **Telecommunication Services — 3.1%** | **Telecommunication Services — 3.1%** | **Telecommunication Services — 3.1%** |
| AT&T, Inc., Sr. Unscd. Notes | 3.50 | 9/15/2053 | 4000000 | 2680067 |
| Motorola Solutions, Inc., Sr. Unscd. Notes | 5.40 | 4/15/2034 | 3250000 | 3339538 |
| T-Mobile USA, Inc., Gtd. Notes | 3.00 | 2/15/2041 | 4750000 | 3473360 |
| Verizon Communications, Inc., Sr. Unscd. Notes | 4.27 | 1/15/2036 | 3500000 | 3257398 |
|  |  |  |  | **12750363** |

---

**14**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** | **BNY Mellon Corporate Bond Fund (continued)** |
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** | **Bonds and Notes — 97.7% (continued)** |
| **Utilities — 1.3%** | **Utilities — 1.3%** | **Utilities — 1.3%** | **Utilities — 1.3%** | **Utilities — 1.3%** |
| Black Hills Corp., Sr. Unscd. Notes | 2.50 | 6/15/2030 | 2500000 | 2294922 |
| NextEra Energy Capital Holdings, Inc., Gtd. Notes | 6.70 | 9/1/2054 | 3000000 | 3089130 |
|  |  |  |  | **5384052** |
| **Total Bonds and Notes** <br>(cost $411,649,295)<br>|  |  |  | **405645016** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>| Shares |  |
| **Investment Companies — 1.6%** | **Investment Companies — 1.6%** | **Investment Companies — 1.6%** | **Investment Companies — 1.6%** |
| **Registered Investment Companies — 1.6%** | **Registered Investment Companies — 1.6%** | **Registered Investment Companies — 1.6%** | **Registered Investment Companies — 1.6%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(e)</sup> <br>(cost $6,513,741)<br>| 4.41 | 6513741 | **6513741** |
| **Investment of Cash Collateral for Securities Loaned — 3.1%** |  |  |  |
| **Registered Investment Companies — 3.1%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(e)</sup> <br>(cost $12,948,667)<br>| 4.41 | 12948667 | **12948667** |
| **Total Investments** (cost $431,111,703) | **Total Investments** (cost $431,111,703) | **102.4%** | **425107424** |
| **Liabilities, Less Cash and Receivables** | **Liabilities, Less Cash and Receivables** | **(2.4%)** | **(9860992)** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **415246432** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

GO—Government Obligation <br> TSFR—Term Secured Overnight Financing Rate Reference Rates

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> 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 August 31, 2025, these securities amounted to $64,232,600 or 15.5% of net assets. 

<sup>(b)</sup> Security is a perpetual bond with no specified maturity date. Maturity date shown is next reset date of the bond.

<sup>(c)</sup> Security, or portion thereof, on loan. At August 31, 2025, the value of the fund's securities on loan was $30,181,440 and the value of the collateral was $31,287,005, consisting of cash collateral of $12,948,667 and U.S. Government & Agency securities valued at $18,338,338. In addition, the value of collateral may include pending sales that are also on loan. 

<sup>(d)</sup> Variable rate security—Interest rate resets periodically and the rate shown is the interest rate in effect at period end. Security description also includes the reference rate and spread if published and available. 

<sup>(e)</sup> Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's prospectus. 

**15**

------

SCHEDULES OF INVESTMENTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **BNY Mellon Corporate Bond Fund** | **BNY Mellon Corporate Bond Fund** | **BNY Mellon Corporate Bond Fund** | **BNY Mellon Corporate Bond Fund** | **BNY Mellon Corporate Bond Fund** | **BNY Mellon Corporate Bond Fund** |
| **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** |
| Description | Value ($) <br>8/31/2024<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>8/31/2025<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - 1.6%** | **Registered Investment Companies - 1.6%** | **Registered Investment Companies - 1.6%** | **Registered Investment Companies - 1.6%** | **Registered Investment Companies - 1.6%** | **Registered Investment Companies - 1.6%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - 1.6%<br>| 4034523 | 88655867 | (86176649) | 6513741 | 291106 |
| **Investment of Cash Collateral for Securities Loaned - 3.1%** | **Investment of Cash Collateral for Securities Loaned - 3.1%** | **Investment of Cash Collateral for Securities Loaned - 3.1%** | **Investment of Cash Collateral for Securities Loaned - 3.1%** | **Investment of Cash Collateral for Securities Loaned - 3.1%** | **Investment of Cash Collateral for Securities Loaned - 3.1%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - 3.1%<br>| 17900899 | 98622198 | (103574430) | 12948667 | 77868 <br><sup>††</sup><br>|
| **Total - 4.7%** | **21935422** | **187278065** | **(189751079)** | **19462408** | **368974** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| Includes reinvested dividends/distributions. |
| <sup>††</sup> <br>| Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and <br> other payments to and from borrowers of securities.<br>|

---

See notes to financial statements.

**16**

------

STATEMENTS OF ASSETS AND LIABILITIES

August 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | BNY Mellon <br>Bond Fund<br>| BNY Mellon <br>Intermediate <br>Bond Fund<br>| BNY Mellon <br>Corporate <br>Bond Fund<br>|
| **Assets ($):** |  |  |  |
| Investments in securities—See Schedules of Investments<sup>†</sup> <br>(including securities on loan)<sup>††</sup>—Note 1(b):<br>|  |  |  |
| Unaffiliated issuers | 1249487649 | 414207095 | 405645016 |
| Affiliated issuers | 9937915 | 6697778 | 19462408 |
| Dividends, interest and securities lending income receivable | 11351636 | 4743904 | 5328600 |
| Receivable for shares of Beneficial Interest subscribed | 865667 | 75391 | 39565 |
| Prepaid expenses | 27076 | 24759 | 15132 |
|  | **1271669943** | **425748927** | **430490721** |
| **Liabilities ($):** |  |  |  |
| Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(b)  | 592122 | 207464 | 203965 |
| Cash overdraft due to Custodian | 4839995 | 1047737 | 1110270 |
| Liability for securities on loan—Note 1(b)  | 4017569 | 888983 | 12948667 |
| Payable for shares of Beneficial Interest redeemed | 278738 | 526259 | 910779 |
| Trustees' fees and expenses payable | 53633 | 16633 | 15167 |
| Other accrued expenses | 50852 | 47149 | 55441 |
|  | **9832909** | **2734225** | **15244289** |
| **Net Assets ($)** | **1261837034** | **423014702** | **415246432** |
| **Composition of Net Assets ($):** |  |  |  |
| Paid-in capital | 1438141118 | 448746755 | 446649367 |
| Total distributable earnings (loss) | (176304084) | (25732053) | (31402935) |
| **Net Assets ($)** | **1261837034** | **423014702** | **415246432** |
| <sup>†</sup>**Investments at cost ($)** |  |  |  |
| Unaffiliated issuers | 1276152941 | 413270476 | 411649295 |
| Affiliated issuers | 9937915 | 6697778 | 19462408 |
| <sup>††</sup>**Value of securities on loan ($)** | **64337637** | **21498993** | **30181440** |
| **Net Asset Value Per Share** |  |  |  |
| **Class M Shares** |  |  |  |
| Net Assets ($) | 1254468092 | 417010778 | 408288046 |
| Shares Outstanding | 113599785 | 34466264 | 32784057 |
| **Net Asset Value Per Share ($)** | **11.04** | **12.10** | **12.45** |
| **Investor Shares** |  |  |  |
| Net Assets ($) | 7368942 | 6003924 | 6958386 |
| Shares Outstanding | 666903 | 493917 | 557097 |
| **Net Asset Value Per Share ($)** | **11.05** | **12.16** | **12.49** |

---

See notes to financial statements.

**17**

------

STATEMENTS OF OPERATIONS

Year Ended August 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | BNY Mellon <br>Bond Fund<br>| BNY Mellon <br>Intermediate <br>Bond Fund<br>| BNY Mellon <br>Corporate <br>Bond Fund<br>|
| **Investment Income ($):** |  |  |  |
| **Income:** |  |  |  |
| Interest | 56147863 | 17527073 | 18630453 |
| Dividends: |  |  |  |
| Unaffiliated issuers | - | - | 22466 |
| Affiliated issuers | 319199 | 105105 | 291106 |
| Affiliated income net of rebates from securities lending—Note 1(b)  | 125808 | 56096 | 77868 |
| **Total Income** | **56592870** | **17688274** | **19021893** |
| **Expenses:** |  |  |  |
| Management fee—Note 3(a)  | 5125798 | 1778321 | 1620360 |
| Administration fee—Note 3(a)  | 1803431 | 625588 | 570157 |
| Trustees' fees and expenses—Note 3(c)  | 206959 | 70507 | 64057 |
| Professional fees | 104308 | 61883 | 56433 |
| Registration fees | 46092 | 39435 | 39678 |
| Loan commitment fees—Note 2 | 30260 | 8549 | 8885 |
| Chief Compliance Officer fees—Note 3(b)  | 24051 | 24051 | 24051 |
| Shareholder servicing costs—Note 3(b)  | 22520 | 17626 | 13163 |
| Custodian fees—Note 3(b)  | 20668 | 6842 | 5419 |
| Prospectus and shareholders' reports | 14575 | 13626 | 13150 |
| Shareholder and regulatory reports service fees—Note 3(b)  | 7583 | 7583 | 7583 |
| Miscellaneous | 39104 | 27200 | 34476 |
| **Total Expenses** | **7445349** | **2681211** | **2457412** |
| Less—reduction in fees due to earnings credits—Note 3(b)  | (314) | (243) | (100) |
| **Net Expenses** | **7445035** | **2680968** | **2457312** |
| **Net Investment Income** | **49147835** | **15007306** | **16564581** |
| **Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):** |  |  |  |
| Net realized gain (loss) on investments | (21464434) | (4562720) | (1825942) |
| Net change in unrealized appreciation (depreciation) on investments | 7023410 | 7238880 | 6978690 |
| **Net Realized and Unrealized Gain (Loss) on Investments** | **(14441024)** | **2676160** | **5152748** |
| **Net Increase in Net Assets Resulting from Operations** | **34706811** | **17683466** | **21717329** |

---

See notes to financial statements.

**18**

------

STATEMENTS OF CHANGES IN NET ASSETS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Bond Fund | BNY Mellon Bond Fund | BNY Mellon Intermediate <br>Bond Fund | BNY Mellon Intermediate <br>Bond Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Operations ($):** |  |  |  |  |
| Net investment income | 49147835 | 43725614 | 15007306 | 14459788 |
| Net realized gain (loss) on investments | (21464434) | (31030093) | (4562720) | (5877232) |
| Net change in unrealized appreciation <br>(depreciation) on investments<br>| 7023410 | 72200888 | 7238880 | 22330184 |
| **Net Increase (Decrease) in Net Assets** <br>**Resulting from Operations**<br>| **34706811** | **84896409** | **17683466** | **30912740** |
| **Distributions ($):** |  |  |  |  |
| Distributions to shareholders: |  |  |  |  |
| Class M | (48685338) | (42834913) | (15113016) | (14266547) |
| Investor Shares | (314621) | (318232) | (216542) | (210535) |
| **Total Distributions** | **(48999959)** | **(43153145)** | **(15329558)** | **(14477082)** |
| **Beneficial Interest Transactions ($):** |  |  |  |  |
| Net proceeds from shares sold: |  |  |  |  |
| Class M | 330918282 | 347465089 | 61708466 | 110915635 |
| Investor Shares | 17616862 | 18901617 | 5935438 | 9393956 |
| Distributions reinvested: |  |  |  |  |
| Class M | 10018259 | 6281351 | 2662156 | 2596765 |
| Investor Shares | 261592 | 288474 | 184461 | 177527 |
| Cost of shares redeemed: |  |  |  |  |
| Class M | (344116679) | (304556682) | (122074488) | (163489341) |
| Investor Shares | (19626824) | (19131312) | (7451718) | (10334940) |
| **Increase (Decrease) in Net Assets from Beneficial Interest** <br> **Transactions**<br>| **(4928508)** | **49248537** | **(59035685)** | **(50740398)** |
| **Total Increase (Decrease) in Net Assets** | **(19221656)** | **90991801** | **(56681777)** | **(34304740)** |
| **Net Assets ($):** |  |  |  |  |
| Beginning of Period | 1281058690 | 1190066889 | 479696479 | 514001219 |
| **End of Period** | **1261837034** | **1281058690** | **423014702** | **479696479** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See notes to financial statements.

**19**

------

STATEMENTS OF CHANGES IN NET ASSETS (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Bond Fund | BNY Mellon Bond Fund | BNY Mellon Intermediate <br>Bond Fund | BNY Mellon Intermediate <br>Bond Fund |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 | 2025 | 2024 |
| **Capital Share Transactions (Shares):** |  |  |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 30048986 | 32154037 | 5165428 | 9425158 |
| Shares issued for distributions reinvested | 912612 | 582260 | 222436 | 221016 |
| Shares redeemed | (31538304) | (28223327) | (10225925) | (13933998) |
| **Net Increase (Decrease) in Shares Outstanding** | **(576706)** | **4512970** | **(4838061)** | **(4287824)** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 1609462 | 1761706 | 496460 | 798753 |
| Shares issued for distributions reinvested | 23811 | 26811 | 15351 | 15069 |
| Shares redeemed | (1795375) | (1777163) | (622613) | (875141) |
| **Net Increase (Decrease) in Shares Outstanding** | **(162102)** | **11354** | **(110802)** | **(61319)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended August 31, 2025, 1,569,314 Class M shares representing $17,178,056 were exchanged for 1,569,110 Investor Shares for BNY Mellon Bond Fund and 495,305 Class M shares representing $5,896,979 were exchanged for 493,261 Investor Shares for BNY Mellon Intermediate Bond Fund. During the period ended August 31, 2024, 1,833,372 Class M shares representing $19,697,985 were exchanged for 1,834,473 Investor Shares for BNY Mellon Bond Fund and 828,643 Class M shares representing $9,716,598 were exchanged for 826,080 Investor Shares for BNY Mellon Intermediate Bond Fund. 

See notes to financial statements.

**20**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | BNY Mellon <br>Corporate Bond Fund | BNY Mellon <br>Corporate Bond Fund |
|  | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 |
| **Operations ($):** |  |  |
| Net investment income | 16564581 | 16788484 |
| Net realized gain (loss) on investments | (1825942) | (4513244) |
| Net change in unrealized appreciation <br>(depreciation) on investments<br>| 6978690 | 27576137 |
| **Net Increase (Decrease) in Net Assets** <br>**Resulting from Operations**<br>| **21717329** | **39851377** |
| **Distributions ($):** |  |  |
| Distributions to shareholders: |  |  |
| Class M | (17027555) | (16753288) |
| Investor Shares | (215081) | (149398) |
| **Total Distributions** | **(17242636)** | **(16902686)** |
| **Beneficial Interest Transactions ($):** |  |  |
| Net proceeds from shares sold: |  |  |
| Class M | 89826710 | 125683418 |
| Investor Shares | 9051208 | 4434853 |
| Distributions reinvested: |  |  |
| Class M | 3898738 | 4029927 |
| Investor Shares | 177643 | 135160 |
| Cost of shares redeemed: |  |  |
| Class M | (105756621) | (153415487) |
| Investor Shares | (5997472) | (5200734) |
| **Increase (Decrease) in Net Assets from Beneficial Interest Transactions** | **(8799794)** | **24332863** |
| **Total Increase (Decrease) in Net Assets** | **(4325101)** | **(1384172)** |
| **Net Assets ($):** |  |  |
| Beginning of Period | 419571533 | 420955705 |
| **End of Period** | **415246432** | **419571533** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See notes to financial statements.

**21**

------

STATEMENTS OF CHANGES IN NET ASSETS (continued)

---

| | | |
|:---|:---|:---|
|  | BNY Mellon <br>Corporate Bond Fund | BNY Mellon <br>Corporate Bond Fund |
|  | Year Ended August 31, | Year Ended August 31, |
|  | 2025 | 2024 |
| **Capital Share Transactions (Shares):** |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |
| Shares sold | 7316485 | 10554867 |
| Shares issued for distributions reinvested | 317290 | 339722 |
| Shares redeemed | (8631628) | (12917878) |
| **Net Increase (Decrease) in Shares Outstanding** | **(997853)** | **(2023289)** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |
| Shares sold | 734588 | 371673 |
| Shares issued for distributions reinvested | 14407 | 11365 |
| Shares redeemed | (489260) | (436446) |
| **Net Increase (Decrease) in Shares Outstanding** | **259735** | **(53408)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended August 31, 2025, 377,894 Class M shares representing $4,623,506 were exchanged for 376,903 Investor Shares for BNY Mellon Corporate Bond Fund. During the period ended August 31, 2024, 316,521 Class M shares representing $3,770,334 were exchanged for 315,897 Investor Shares for BNY Mellon Corporate Bond Fund. 

See notes to financial statements.

**22**

------

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.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 11.14 | 10.77 | 11.22 | 13.10 | 13.63 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .42 | .39 | .32 | .25 | .23 |
| Net realized and unrealized gain (loss) on investments | (.10)<br>| .37 | (.44)<br>| (1.83)<br>| (.17)<br>|
| Total from Investment Operations | .32 | .76 | (.12)<br>| (1.58)<br>| .06 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.42)<br>| (.39)<br>| (.33)<br>| (.30)<br>| (.31)<br>|
| Dividends from net realized gain on investments | - | - | - | - | (.28)<br>|
| Total Distributions | (.42)<br>| (.39)<br>| (.33)<br>| (.30)<br>| (.59)<br>|
| Net asset value, end of period | 11.04 | 11.14 | 10.77 | 11.22 | 13.10 |
| **Total Return (%)** | 2.95 | 7.20 | (1.05)<br>| (12.19)<br>| .50 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .58 | .57 | .57 | .55 | .55 |
| Ratio of net expenses to average net assets | .58 <br><sup>(b)</sup><br>| .57 <br><sup>(b)</sup><br>| .57 <br><sup>(b)</sup><br>| .55 | .55 |
| Ratio of net investment income to average net assets | 3.84 <br><sup>(b)</sup><br>| 3.62 <br><sup>(b)</sup><br>| 2.91 <br><sup>(b)</sup><br>| 2.07 | 1.71 |
| Portfolio Turnover Rate | 58.24 | 56.80 | 45.46 | 88.66 | 72.04 |
| **Net Assets, end of period ($ x 1,000)** | 1254468 | 1271824 | 1181267 | 1172292 | 1339003 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**23**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 11.14 | 10.76 | 11.21 | 13.08 | 13.60 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .39 | .36 | .29 | .23 | .20 |
| Net realized and unrealized gain (loss) on investments | (.10)<br>| .37 | (.44)<br>| (1.83)<br>| (.16)<br>|
| Total from Investment Operations | .29 | .73 | (.15)<br>| (1.60)<br>| .04 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.38)<br>| (.35)<br>| (.30)<br>| (.27)<br>| (.28)<br>|
| Dividends from net realized gain on investments | - | - | - | - | (.28)<br>|
| Total Distributions | (.38)<br>| (.35)<br>| (.30)<br>| (.27)<br>| (.56)<br>|
| Net asset value, end of period | 11.05 | 11.14 | 10.76 | 11.21 | 13.08 |
| **Total Return (%)** | 2.71 | 6.94 | (1.38)<br>| (12.39)<br>| .30 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .83 | .82 | .82 | .80 | .80 |
| Ratio of net expenses to average net assets | .83 <br><sup>(b)</sup><br>| .82 <br><sup>(b)</sup><br>| .82 <br><sup>(b)</sup><br>| .80 | .80 |
| Ratio of net investment income to average net assets | 3.59 <br><sup>(b)</sup><br>| 3.37 <br><sup>(b)</sup><br>| 2.66 <br><sup>(b)</sup><br>| 1.82 | 1.46 |
| Portfolio Turnover Rate | 58.24 | 56.80 | 45.46 | 88.66 | 72.04 |
| **Net Assets, end of period ($ x 1,000)** | 7369 | 9234 | 8800 | 10822 | 11286 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**24**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Intermediate Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 12.02 | 11.61 | 11.77 | 12.93 | 13.11 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .40 | .35 | .28 | .24 | .24 |
| Net realized and unrealized gain (loss) on investments | .10 | .41 | (.13)<br>| (1.13)<br>| (.16)<br>|
| Total from Investment Operations | .50 | .76 | .15 | (.89)<br>| .08 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.42)<br>| (.35)<br>| (.31)<br>| (.27)<br>| (.26)<br>|
| Net asset value, end of period | 12.10 | 12.02 | 11.61 | 11.77 | 12.93 |
| **Total Return (%)** | 4.22 | 6.66 | 1.26 | (6.93)<br>| .62 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .60 | .59 | .58 | .56 | .56 |
| Ratio of net expenses to average net assets | .60 <br><sup>(b)</sup><br>| .59 <br><sup>(b)</sup><br>| .58 <br><sup>(b)</sup><br>| .56 | .56 |
| Ratio of net investment income to average net assets | 3.38 <br><sup>(b)</sup><br>| 2.96 <br><sup>(b)</sup><br>| 2.44 <br><sup>(b)</sup><br>| 1.98 | 1.85 |
| Portfolio Turnover Rate | 64.17 | 39.92 | 26.10 | 31.46 | 19.07 |
| **Net Assets, end of period ($ x 1,000)** | 417011 | 472402 | 506245 | 619470 | 779123 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**25**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Intermediate Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 12.06 | 11.65 | 11.80 | 12.95 | 13.12 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .38 | .32 | .25 | .22 | .21 |
| Net realized and unrealized gain (loss) on investments | .10 | .41 | (.13)<br>| (1.13)<br>| (.16)<br>|
| Total from Investment Operations | .48 | .73 | .12 | (.91)<br>| .05 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.38)<br>| (.32)<br>| (.27)<br>| (.24)<br>| (.22)<br>|
| Net asset value, end of period | 12.16 | 12.06 | 11.65 | 11.80 | 12.95 |
| **Total Return (%)** | 4.06 | 6.32 | 1.03 | (7.11)<br>| .42 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .85 | .84 | .83 | .81 | .81 |
| Ratio of net expenses to average net assets | .85 <br><sup>(b)</sup><br>| .84 <br><sup>(b)</sup><br>| .83 <br><sup>(b)</sup><br>| .81 | .81 |
| Ratio of net investment income to average net assets | 3.13 <br><sup>(b)</sup><br>| 2.71 <br><sup>(b)</sup><br>| 2.19 <br><sup>(b)</sup><br>| 1.73 | 1.59 |
| Portfolio Turnover Rate | 64.17 | 39.92 | 26.10 | 31.46 | 19.07 |
| **Net Assets, end of period ($ x 1,000)** | 6004 | 7294 | 7756 | 7845 | 9125 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**26**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Corporate Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 12.31 | 11.64 | 11.74 | 13.80 | 13.69 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .50 | .48 | .43 | .40 | .43 |
| Net realized and unrealized gain (loss) on investments | .16 | .67 | (.08)<br>| (1.96)<br>| .15 |
| Total from Investment Operations | .66 | 1.15 | .35 | (1.56)<br>| .58 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.52)<br>| (.48)<br>| (.45)<br>| (.43)<br>| (.47)<br>|
| Dividends from net realized gain on investments | - | - | - | (.07)<br>| - |
| Total Distributions | (.52)<br>| (.48)<br>| (.45)<br>| (.50)<br>| (.47)<br>|
| Net asset value, end of period | 12.45 | 12.31 | 11.64 | 11.74 | 13.80 |
| **Total Return (%)** | 5.51 | 10.12 | 3.06 | (11.58)<br>| 4.29 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .60 | .60 | .58 | .56 | .56 |
| Ratio of net expenses to average net assets | .60 <br><sup>(b)</sup><br>| .60 <br><sup>(b)</sup><br>| .58 <br><sup>(b)</sup><br>| .56 | .56 |
| Ratio of net investment income to average net assets | 4.09 <br><sup>(b)</sup><br>| 4.02 <br><sup>(b)</sup><br>| 3.76 <br><sup>(b)</sup><br>| 3.15 | 3.10 |
| Portfolio Turnover Rate | 14.14 | 24.27 | 11.99 | 25.87 | 18.34 |
| **Net Assets, end of period ($ x 1,000)** | 408288 | 415902 | 416864 | 564925 | 757617 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**27**

------

FINANCIAL HIGHLIGHTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon Corporate Bond Fund** | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | 12.34 | 11.66 | 11.75 | 13.81 | 13.70 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .47 | .46 | .40 | .37 | .40 |
| Net realized and unrealized gain (loss) on investments | .17 | .67 | (.08)<br>| (1.97)<br>| .14 |
| Total from Investment Operations | .64 | 1.13 | .32 | (1.60)<br>| .54 |
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | (.49)<br>| (.45)<br>| (.41)<br>| (.39)<br>| (.43)<br>|
| Dividends from net realized gain on investments | - | - | - | (.07)<br>| - |
| Total Distributions | (.49)<br>| (.45)<br>| (.41)<br>| (.46)<br>| (.43)<br>|
| Net asset value, end of period | 12.49 | 12.34 | 11.66 | 11.75 | 13.81 |
| **Total Return (%)** | 5.27 | 9.86 | 2.82 | (11.82)<br>| 4.02 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | .85 | .85 | .83 | .81 | .81 |
| Ratio of net expenses to average net assets | .85 <br><sup>(b)</sup><br>| .85 <br><sup>(b)</sup><br>| .83 <br><sup>(b)</sup><br>| .81 | .81 |
| Ratio of net investment income to average net assets | 3.84 <br><sup>(b)</sup><br>| 3.77 <br><sup>(b)</sup><br>| 3.51 <br><sup>(b)</sup><br>| 2.90 | 2.85 |
| Portfolio Turnover Rate | 14.14 | 24.27 | 11.99 | 25.87 | 18.34 |
| **Net Assets, end of period ($ x 1,000)** | 6958 | 3670 | 4091 | 5296 | 6225 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**28**

------

NOTES TO FINANCIAL STATEMENTS

**NOTE 1—**

**Significant Accounting Policies:**

BNY Mellon Funds Trust (the "Trust"), a Massachusetts business trust that is registered under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company, operates as a series company currently consisting of thirteen series, including the following diversified funds: BNY Mellon Bond Fund, BNY Mellon Intermediate Bond Fund and BNY Mellon Corporate Bond Fund (each, a "fund" and collectively, the "funds"). The objective of each fund is to seek total return (consisting of capital appreciation and current income).

BNY Mellon Investment Adviser, Inc. (the "Adviser"), a wholly-owned subsidiary of The Bank of New York Mellon Corporation ("BNY"), serves as each fund's investment adviser. The Bank of New York Mellon serves as administrator for the funds pursuant to an Administration Agreement with the Trust (the "Administration Agreement"). The Bank of New York Mellon has entered into a Sub-Administration Agreement with the Adviser pursuant to which BNY pays the Adviser for performing certain administrative services.

BNY Mellon Securities Corporation (the "Distributor"), a wholly-owned subsidiary of the Adviser, is the distributor of each fund's shares, which are sold without a sales charge. Each fund is authorized to issue an unlimited number of $.001 par value shares of Beneficial Interest in each of the following classes of shares: Class M and Investor. Each class of shares has identical rights and privileges, except with respect to the Shareholder Services Plan fee and the expenses borne by each class, the allocation of certain transfer agency costs 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 Trust 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 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. Each fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. Each 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 Trust enters into contracts that contain a variety of indemnifications. The funds' maximum exposure under these arrangements is unknown. The funds do 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 each 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 funds' 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 each fund's investments are as follows:

The Trust's Board of Trustees (the "Board") has designated the Adviser as the funds' valuation designee to make all fair value determinations with respect to the funds' portfolio investments, subject to the Board's oversight and pursuant to Rule 2a-5 under the Act.

**29**

------

NOTES TO FINANCIAL STATEMENTS (continued)

Investments in debt securities, excluding short-term investments (other than U.S. Treasury Bills) are valued each business day by one or more independent pricing services (each, a "Service"). Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of a Service are valued at the mean between the quoted bid prices (as obtained by a Service from dealers in such securities) and asked prices (as calculated by a Service based upon its evaluation of the market for such securities). Securities are valued as determined by the Adviser based on values supplied by a Service, based on methods which include consideration of the following: yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. The Services are engaged under the general supervision of the Adviser. These securities are generally categorized within Level 2 of the fair value hierarchy.

Securities not listed on an exchange or the national securities market, or securities for which there were no transactions, are valued at the average of the most recent bid and asked prices. These securities are generally categorized within Level 2 of the fair value hierarchy.

Fair valuing of securities may be determined with the assistance of a Service using calculations based on indices of domestic securities and other appropriate indicators, such as prices of relevant American Depositary Receipts and futures. Utilizing these techniques may result in transfers between Level 1 and Level 2 of the fair value hierarchy.

When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the funds calculate their net asset value, the funds may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

For securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.

The following is a summary of the inputs used as of August 31, 2025 in valuing each fund's investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 -** <br>**Unadjusted** <br>**Quoted Prices**<br>| **Level 2- Other** <br>**Significant** <br>**Observable Inputs**<br>| **Level 3-** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **BNY Mellon Bond Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Corporate Bonds and Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 375839502 | &nbsp;&nbsp; — | &nbsp;&nbsp; **375839502** |
| Foreign Governmental | &nbsp;&nbsp; — | &nbsp;&nbsp; 9353036 | &nbsp;&nbsp; — | &nbsp;&nbsp; **9353036** |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 2517323 | &nbsp;&nbsp; — | &nbsp;&nbsp; **2517323** |
| U.S. Government Agencies Collateralized Municipal-Backed <br> Securities<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 3904740 | &nbsp;&nbsp; — | &nbsp;&nbsp; **3904740** |
| U.S. Government Agencies Mortgage-Backed | &nbsp;&nbsp; — | &nbsp;&nbsp; 327037285 | &nbsp;&nbsp; — | &nbsp;&nbsp; **327037285** |
| U.S. Treasury Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 530835763 | &nbsp;&nbsp; — | &nbsp;&nbsp; **530835763** |
| Investment Companies | &nbsp;&nbsp; 9937915 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **9937915** |
|  | &nbsp;&nbsp; **9937915** | &nbsp;&nbsp; **1249487649** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **1259425564** |
| **BNY Mellon Intermediate Bond Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Corporate Bonds and Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 175784487 | &nbsp;&nbsp; — | &nbsp;&nbsp; **175784487** |
| Foreign Governmental | &nbsp;&nbsp; — | &nbsp;&nbsp; 2272144 | &nbsp;&nbsp; — | &nbsp;&nbsp; **2272144** |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 11534935 | &nbsp;&nbsp; — | &nbsp;&nbsp; **11534935** |
| U.S. Government Agencies Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 2381155 | &nbsp;&nbsp; — | &nbsp;&nbsp; **2381155** |

---

**30**

------

NOTES TO FINANCIAL STATEMENTS (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 -**<br> **Unadjusted**<br> **Quoted Prices**<br>| **Level 2- Other**<br> **Significant** <br> **Observable Inputs**<br>| **Level 3-**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>| **Total** |
| **BNY Mellon Intermediate Bond Fund (continued)**<br> **Assets ($) (continued)**<br>|  |  |  |  |
| U.S. Government Agencies Collateralized Municipal-Backed <br> Securities<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 2056855 | &nbsp;&nbsp; — | &nbsp;&nbsp; **2056855** |
| U.S. Government Agencies Mortgage-Backed | &nbsp;&nbsp; — | &nbsp;&nbsp; 5584104 | &nbsp;&nbsp; — | &nbsp;&nbsp; **5584104** |
| U.S. Government Agencies Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 29090941 | &nbsp;&nbsp; — | &nbsp;&nbsp; **29090941** |
| U.S. Treasury Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 185502474 | &nbsp;&nbsp; — | &nbsp;&nbsp; **185502474** |
| Investment Companies | &nbsp;&nbsp; 6697778 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **6697778** |
|  | &nbsp;&nbsp; **6697778** | &nbsp;&nbsp; **414207095** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **420904873** |
| **BNY Mellon Corporate Bond Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Corporate Bonds and Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 389875770 | &nbsp;&nbsp; — | &nbsp;&nbsp; **389875770** |
| Foreign Governmental | &nbsp;&nbsp; — | &nbsp;&nbsp; 2667539 | &nbsp;&nbsp; — | &nbsp;&nbsp; **2667539** |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 13101707 | &nbsp;&nbsp; — | &nbsp;&nbsp; **13101707** |
| Investment Companies | &nbsp;&nbsp; 19462408 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **19462408** |
|  | &nbsp;&nbsp; **19462408** | &nbsp;&nbsp; **405645016** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **425107424** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>†</sup> See Schedules of Investments for additional detailed categorizations, if any.

**(b) 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 funds may lend securities to qualified institutions. It is the funds' 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 funds, except in the event of borrower default, and is not reflected in the Statements of Assets and Liabilities. The securities on loan, if any, are also disclosed in each fund's Schedules of Investments. The funds are 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 funds or credit the funds with the market value of the unreturned securities and is subrogated to the funds' rights against the borrower and the collateral. Additionally, the contractual maturity of security lending transactions are on an overnight and continuous basis. The table below summarizes the amount BNY earned from each fund from lending portfolio securities, pursuant to the securities lending agreement during the period ended August 31, 2025.

---

| | |
|:---|:---|
| **Securities Lending Agreement ($)** |  |
| BNY Mellon Bond Fund | 17153 |
| BNY Mellon Intermediate Bond Fund | 7647 |
| BNY Mellon Corporate Bond Fund | 10615 |

---

For financial reporting purposes, each relevant fund elects not to offset assets and liabilities subject to a securities lending agreement, if any, in the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statements of Assets and Liabilities. As of August 31, 2025, each relevant fund had securities lending and the impact of netting of assets and liabilities

**31**

------

NOTES TO FINANCIAL STATEMENTS (continued)

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 tables:

---

| | |
|:---|:---|
| **Assets ($)** |  |
| **BNY Mellon Bond Fund** | **BNY Mellon Bond Fund** |
| Gross amount of securities loaned, at <br> value, as disclosed in the Statement <br>of Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64337637 |
| Collateral (received)/posted not offset <br>in the Statement of <br>Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (64337637) <br><sup>†</sup><br>|
| Net amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| 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, <br> the value of collateral may include pending sales that are also on loan. See Schedules of Investments for detailed information regarding collateral received for open <br> securities lending.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets ($)** |  |
| **BNY Mellon Intermediate Bond Fund** | **BNY Mellon Intermediate Bond Fund** |
| Gross amount of securities loaned, at <br> value, as disclosed in the Statement <br>of Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21498993 |
| Collateral (received)/posted not offset <br>in the Statement of <br>Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21498993) <br><sup>†</sup><br>|
| Net amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| 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, <br> the value of collateral may include pending sales that are also on loan. See Schedules of Investments for detailed information regarding collateral received for open <br> securities lending.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Assets ($)** |  |
| **BNY Mellon Corporate Bond Fund** | **BNY Mellon Corporate Bond Fund** |
| Gross amount of securities loaned, at <br> value, as disclosed in the Statement <br>of Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30181440 |
| Collateral (received)/posted not offset <br>in the Statement of <br>Assets and Liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30181440) <br><sup>†</sup><br>|
| Net amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| 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, <br> the value of collateral may include pending sales that are also on loan. See Schedules of Investments for detailed information regarding collateral received for open <br> securities lending.<br>|

---

**(c) Affiliated issuers:** Investments in other investment companies advised by the Adviser are considered "affiliated" under the Act.

**(d) Market Risk:** The value of the securities in which each 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 each 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.

**32**

------

NOTES TO FINANCIAL STATEMENTS (continued)

**Government Securities Risk:** Not all obligations of the U.S. government, its agencies and instrumentalities are backed by the full faith and credit of the U.S. Treasury. Some obligations are backed only by the credit of the issuing agency or instrumentality, and in some cases there may be some risk of default by the issuer. Any guarantee by the U.S. government or its agencies or instrumentalities of a security held by each fund does not apply to the market value of such security or to shares of the fund itself.

**Interest Rate Risk:** Prices of bonds and other fixed rate fixed-income securities tend to move inversely with changes in interest rates. Typically, a rise in rates will adversely affect fixed-income securities and, accordingly, will cause the value of each fund's investments in these securities to decline. A wide variety of market factors can cause interest rates to rise, including central bank monetary policy, rising inflation and changes in general economic conditions. It is difficult to predict the pace at which central banks or monetary authorities may increase (or decrease) interest rates or the timing, frequency, or magnitude of such changes. During periods of very low interest rates, which occur from time to time due to market forces or actions of governments and/or their central banks, including the Board of Governors of the Federal Reserve System in the U.S., each fund may be subject to a greater risk of principal decline from rising interest rates. When interest rates fall, each fund's investments in new securities may be at lower yields and may reduce each fund's income. Changing interest rates may have unpredictable effects on markets, may result in heightened market volatility and may detract from fund performance. The magnitude of these fluctuations in the market price of fixed-income securities is generally greater for securities with longer effective maturities and durations because such instruments do not mature, reset interest rates or become callable for longer periods of time. Unlike investment grade bonds, however, the prices of high yield ("junk") bonds may fluctuate unpredictably and not necessarily inversely with changes in interest rates.

**Mortgage-Related Securities Risk:** Mortgage-related securities are complex derivative instruments, subject to credit, prepayment and extension risk, and may be more volatile, less liquid and more difficult to price accurately than more traditional debt securities. The fund is subject to the credit risk associated with these securities, including the market's perception of the creditworthiness of the issuing federal agency, as well as the credit quality of the underlying assets. Although certain mortgage-related securities are guaranteed as to the timely payment of interest and principal by a third party (such as a U.S. government agency or instrumentality with respect to government-related mortgage securities) the market prices for such securities are not guaranteed and will fluctuate. As with other interest-bearing securities, the prices of certain mortgage-related securities are inversely affected by changes in interest rates. However, the value of a mortgage-related security may decline when interest rates rise, the converse is not necessarily true, since in periods of declining interest rates the mortgages underlying the security are more likely to be prepaid causing the fund to purchase new securities at current market rates, which usually will be lower. The loss of higher yielding underlying mortgages and the reinvestment of proceeds at lower interest rates, known as prepayment risk, can reduce the fund's potential price gain in response to falling interest rates, reduce the fund's yield and/or cause the fund's share price to fall. When interest rates rise, the effective duration of the fund's mortgage-related and other asset-backed securities may lengthen due to a drop in prepayments of the underlying mortgages or other assets. This is known as extension risk and would increase the fund's sensitivity to rising interest rates and it potential for price declines.

**Fixed-Income Market Risk**: The market value of a fixed-income security may decline due to general market conditions that are not specifically related to a particular company, such as real or perceived adverse economic conditions, changes in the outlook for corporate earnings, changes in interest or currency rates or adverse investor sentiment generally. The fixed-income securities market can be susceptible to increases in volatility and decreases in liquidity. Liquidity can decline unpredictably in response to overall economic conditions or credit tightening. Increases in volatility and decreases in liquidity may be caused by a rise in interest rates (or the expectation of a rise in interest rates). An unexpected increase in each of the relevant fund redemption requests, including requests from shareholders who may own a significant percentage of each of the relevant fund's shares, which may be triggered by market turmoil or an increase in interest rates, could cause each of the relevant fund to sell its holdings at a loss or at undesirable prices and adversely affect each of the relevant fund's share price and increase each of the relevant fund's liquidity risk, fund expenses and/or taxable distributions. Federal Reserve policy in response to market conditions, including with respect to interest rates, may adversely affect the value, volatility and liquidity of dividend and interest paying securities. Policy and legislative changes worldwide are affecting many aspects of financial regulation. The impact of these changes on the markets and the practical implications for market participants may not be fully known for some time.

**(e) Dividends and distributions to shareholders:** Dividends and distributions payable to shareholders are recorded by each fund on the ex-dividend date. The funds normally declare and pay dividends from net investment income monthly. Dividends from net realized capital gains, if any, are normally declared and paid annually, but each 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 of a fund, it is the policy of each fund not to distribute such gains. Income and capital gains distributions are determined in accordance with income tax regulations, which may differ from GAAP.

**33**

------

NOTES TO FINANCIAL STATEMENTS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(f) Federal income taxes:** It is the policy of each 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. For federal income tax purposes, each fund is treated as a separate entity for the purpose of determining such qualification.

As of and during the period ended August 31, 2025, the funds did not have any liabilities for any uncertain tax positions. Each fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statements of Operations. During the period ended August 31, 2025, the funds did not incur any interest or penalties.

Each tax year in the four-year period ended August 31, 2025 remains subject to examination by the Internal Revenue Service and state taxing authorities.

The table below summarizes each fund's components of accumulated earnings on a tax basis at August 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
| **Components of Accumulated Earnings** | **Components of Accumulated Earnings** | **Components of Accumulated Earnings** | **Components of Accumulated Earnings** |
|  | Undistributed <br>Ordinary <br>Income ($)<br>| Accumulated <br>Capital <br>(Losses) ($)<br>| Unrealized <br> Appreciation <br> (Depreciation) ($)<br>|
| BNY Mellon Bond Fund | &nbsp;&nbsp; 965534 | &nbsp;&nbsp; (148073039)<br>| &nbsp;&nbsp; (29196579)<br>|
| BNY Mellon Intermediate Bond Fund | &nbsp;&nbsp; 1229863 | &nbsp;&nbsp; (27139818)<br>| &nbsp;&nbsp; 177902 |
| BNY Mellon Corporate Bond Fund | &nbsp;&nbsp; 828087 | &nbsp;&nbsp; (24730269)<br>| &nbsp;&nbsp; (7500753)<br>|

---

Each fund is permitted to carry forward capital losses for an unlimited period. Furthermore, capital loss carryovers retain their character as either short-term or long-term capital losses.

The below table summarizes each fund's accumulated capital loss carryover available for federal income tax purposes to be applied against future net realized capital gains, if any, realized subsequent to August 31, 2025.

---

| | | | |
|:---|:---|:---|:---|
| **Capital Loss Carryover** | Short-Term <br>Losses ($)<sup>†</sup> <br>| Long-Term <br>Losses ($)<sup>†</sup> <br>| Total ($) |
| BNY Mellon Bond Fund | &nbsp;&nbsp; 51663355 | &nbsp;&nbsp; 96409684 | &nbsp;&nbsp; 148073039 |
| BNY Mellon Intermediate Bond Fund | &nbsp;&nbsp; 2744953 | &nbsp;&nbsp; 24394865 | &nbsp;&nbsp; 27139818 |
| BNY Mellon Corporate Bond Fund | &nbsp;&nbsp; 2373973 | &nbsp;&nbsp; 22356296 | &nbsp;&nbsp; 24730269 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>†</sup> These capital losses can be carried forward for an unlimited period.

The below table summarizes each fund's tax character of distributions paid to shareholders during the fiscal periods ended August 31, 2025 and August 31, 2024.

---

| | | |
|:---|:---|:---|
|  | 2025 | 2024 |
| **Tax Character of Distributions Paid** | Ordinary <br>Income ($) | Ordinary <br>Income ($) |
| BNY Mellon Bond Fund | &nbsp;&nbsp; 48999959 | &nbsp;&nbsp; 43153145 |
| BNY Mellon Intermediate Bond Fund | &nbsp;&nbsp; 15329558 | &nbsp;&nbsp; 14477082 |
| BNY Mellon Corporate Bond Fund | &nbsp;&nbsp; 17242636 | &nbsp;&nbsp; 16902686 |

---

**(g) Operating segment reporting:** In this reporting period, each fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the funds' financial position or the results of its operations. The ASU 2023-07 is effective for public entities for fiscal years beginning after December 15, 2023, and requires retrospective application for all prior periods presented within the financial statements.

Since its commencement, each fund operates and is managed as a single reportable segment deriving returns in the form of dividends, interest and/or gains from the investments made in pursuit of its single stated investment objective as outlined in the funds' prospectus. The accounting policies of the funds are consistent with those described in these Notes to Financial Statements. The chief operating

**34**

------

NOTES TO FINANCIAL STATEMENTS (continued)

decision maker ("CODM") is represented by BNY Investments, the management of the Adviser, comprising Senior Management and Directors. The CODM considers net increase in net assets resulting from operations in deciding whether to purchase additional investments or to make distributions to fund shareholders. Detailed financial information for the funds is disclosed within these financial statements with total assets and liabilities disclosed on the Statements of Assets and Liabilities, investments held on the Schedules of Investments, results of operations and significant segment expenses on the Statements of Operations and other information about the funds' performance, including total return, portfolio turnover and ratios within the Financial Highlights.

**NOTE 2—**

**Bank Lines of Credit:**

The funds participate 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 funds, 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, each 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 funds based on rates determined pursuant to the terms of the respective Facility at the time of borrowing. During the period ended August 31, 2025, the funds did not borrow under either Facility.

**NOTE 3—**

**Management Fee, Administration Fee and Other Transactions with Affiliates:**

**(a)** Pursuant to an investment advisory agreement with the Adviser, the management fee is payable monthly and computed on the average daily value of each fund's net assets at the following annual rates: .40% of BNY Mellon Bond Fund, .40% of BNY Mellon Intermediate Bond Fund and .40% of BNY Mellon Corporate Bond Fund.

Pursuant to the Administration Agreement, The Bank of New York Mellon provides or arranges for fund accounting, transfer agency and other fund administration services and receives a fee based on the total net assets of the Trust based on the following rates:

---

| | |
|:---|:---|
| 0 up to $6 billion | &nbsp;&nbsp;&nbsp;&nbsp; .15% |
| $6 billion up to $12 billion | &nbsp;&nbsp;&nbsp;&nbsp; .12% |
| In excess of $12 billion | &nbsp;&nbsp;&nbsp;&nbsp; .10% |

---

**(b)** Each fund has adopted a Shareholder Services Plan with respect to its Investor shares. Each fund pays the Distributor at an annual rate of .25% of the value of its Investor shares 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 a fund, and services related to the maintenance of such shareholder accounts. The Shareholder Services Plan allows the Distributor to make payments from the shareholder services fees it collects from each fund to compensate service agents (certain banks, securities brokers or dealers and other financial institutions) with respect to these services. The table below summarizes the amounts Investor shares were charged during the period ended August 31, 2025, pursuant to the Shareholder Services Plan, which is included in Shareholder servicing costs in the Statements of Operations.

---

| | |
|:---|:---|
| **Shareholder Services Plan Fees ($)** |  |
| BNY Mellon Bond Fund | 22389 |
| BNY Mellon Intermediate Bond Fund | 17450 |
| BNY Mellon Corporate Bond Fund | 13089 |

---

The funds have an arrangement with BNY Mellon Transfer, Inc., (the "Transfer Agent"), a subsidiary of BNY and an affiliate of the Adviser, whereby the funds may receive earnings credits when positive cash balances are maintained, which are used to offset Transfer Agent fees. For financial reporting purposes, the funds include net earnings credits, if any, as an expense offset in the Statements of Operations.

The funds have an arrangement with The Bank of New York Mellon (the "Custodian"), a subsidiary of BNY and an affiliate of the Adviser, whereby the funds will receive interest income or be charged overdraft fees when cash balances are maintained. For financial reporting purposes, the funds include this interest income and overdraft fees, if any, as interest income in the Statements of Operations.

**35**

------

NOTES TO FINANCIAL STATEMENTS (continued)

Each fund compensates the Transfer Agent, under a transfer agency agreement, for providing cash management services for the funds. The Transfer Agent fees are comprised of amounts paid on cash management fees which are related to fund subscriptions and redemptions. BNY pays each fund's Transfer Agent fees comprised of amounts paid on a per account basis out of the administration fee it receives from the Trust. During the period ended August 31, 2025, there were no transfer agent cash management fees for each fund. These fees were partially offset by earnings credits for each fund, summarized in the table below.

---

| | |
|:---|:---|
| **Transfer Agent Earnings Credits ($)** |  |
| BNY Mellon Bond Fund | (314) |
| BNY Mellon Intermediate Bond Fund | (243) |
| BNY Mellon Corporate Bond Fund | (100) |

---

Each fund compensates the Custodian, under a custody agreement, for providing custodial services for each fund. These fees are determined based on net assets, geographic region and transaction activity. The table below summarizes the amount each fund was charged during the period ended August 31, 2025 pursuant to the custody agreement.

---

| | |
|:---|:---|
| **Custodian Fees ($)** |  |
| BNY Mellon Bond Fund | 20668 |
| BNY Mellon Intermediate Bond Fund | 6842 |
| BNY Mellon Corporate Bond Fund | 5419 |

---

Each fund compensates the Custodian, under a shareholder redemption draft processing agreement, for providing certain services related to the funds' check writing privilege. The following table summarizes the amount each fund was charged during the period ended August 31, 2025 pursuant to the agreement, which is included in Shareholder servicing costs in the Statements of Operations.

---

| | |
|:---|:---|
| **Checkwriting Fees ($)** |  |
| BNY Mellon Bond Fund | 131 |
| BNY Mellon Intermediate Bond Fund | 176 |
| BNY Mellon Corporate Bond Fund | 74 |

---

The below table summarizes the amount each fund was charged for services performed by the Chief Compliance Officer and his staff, during the period ended August 31, 2025.

---

| | |
|:---|:---|
| **Chief Compliance Officer Fees ($)** |  |
| BNY Mellon Bond Fund | 24051 |
| BNY Mellon Intermediate Bond Fund | 24051 |
| BNY Mellon Corporate Bond Fund | 24051 |

---

The funds compensate the Custodian for providing shareholder reporting and regulatory services for the funds. These fees are included in Shareholder and regulatory reports service fees in the Statements of Operations. The below table summarizes the amount each fund was charged for shareholder reporting and regulatory services, during the period ended August 31, 2025.

---

| | |
|:---|:---|
| **Shareholder and Regulatory Reports Service Fees ($)** |  |
| BNY Mellon Bond Fund | 7583 |
| BNY Mellon Intermediate Bond Fund | 7583 |
| BNY Mellon Corporate Bond Fund | 7583 |

---

**36**

------

NOTES TO FINANCIAL STATEMENTS (continued)

The table below summarizes the components of "Due to BNY Mellon Investment Adviser, Inc. and affiliates" in the Statements of Assets and Liabilities for each fund.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** | **Due to BNY Mellon Investment Adviser, Inc. and Affiliates** |
|  | Management <br>Fee ($)<br>| Administration <br>Fee ($)<br>| Shareholder <br>Services <br>Plan <br>Fees ($)<br>| Custodian <br>Fees ($)<br>| Chief <br>Compliance <br>Officer <br>Fees ($)<br>| Checkwriting <br>Fees ($)<br>| Shareholder <br>& Regulatory <br>Reports <br>Service <br>Fees ($)<br>|
| BNY Mellon Bond Fund | 424697 | 150880 | 1531 | 6000 | 2993 | 21 | 6000 |
| BNY Mellon Intermediate Bond Fund | 144016 | 51164 | 1257 | 2000 | 2993 | 34 | 6000 |
| BNY Mellon Corporate Bond Fund | 141263 | 50186 | 1498 | 2000 | 2993 | 25 | 6000 |

---

**(c)** Each board member also serves as a Board member of other funds within the Trust. Annual retainer fees and attendance fees are allocated to each fund based on net assets.

**NOTE 4—**

**Securities Transactions:**

The table below summarizes each fund's aggregate amount of purchases and sales (including paydowns) of investment securities, excluding short-term securities, during the period ended August 31, 2025.

---

| | | |
|:---|:---|:---|
| **Purchases and Sales** | Purchases ($) | Sales ($) |
| BNY Mellon Bond Fund | &nbsp;&nbsp; 738611576 | &nbsp;&nbsp; 746718092 |
| BNY Mellon Intermediate Bond Fund | &nbsp;&nbsp; 282549655 | &nbsp;&nbsp; 345304548 |
| BNY Mellon Corporate Bond Fund | &nbsp;&nbsp; 56068596 | &nbsp;&nbsp; 65508951 |

---

The table below summarizes the cost of investments for federal income tax purposes, gross appreciation, gross depreciation and accumulated net unrealized appreciation (depreciation) on investments for each fund at August 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** |
|  | Cost of <br>Investments ($)<br>| Gross <br>Appreciation ($)<br>| Gross <br>(Depreciation) ($)<br>| Net ($) |
| BNY Mellon Bond Fund | &nbsp;&nbsp; 1288622143 | &nbsp;&nbsp; 15895398 | &nbsp;&nbsp; (45091977)<br>| &nbsp;&nbsp; (29196579)<br>|
| BNY Mellon Intermediate Bond Fund | &nbsp;&nbsp; 420726971 | &nbsp;&nbsp; 3557895 | &nbsp;&nbsp; (3379993)<br>| &nbsp;&nbsp; 177902 |
| BNY Mellon Corporate Bond Fund | &nbsp;&nbsp; 432608177 | &nbsp;&nbsp; 5908360 | &nbsp;&nbsp; (13409113)<br>| &nbsp;&nbsp; (7500753)<br>|

---

**NOTE 5—**

**Subsequent Events:**

Effective October 1, 2025, the Adviser has engaged its affiliate, Insight North America LLC ("INA"), to serve as the sub-adviser to each fund, pursuant to a sub-investment advisory agreement (the "Sub-Advisory Agreement") between the Adviser and INA, with respect to each fund. INA, subject to the Adviser's supervision and approval, provides day-to-day management of each fund's assets pursuant to the Sub-Advisory Agreement. INA is an indirect wholly-owned subsidiary of BNY and is registered in the United States with the Securities and Exchange Commission as an investment adviser. INA's principal office is located at 200 Park Avenue, New York, New York 10166.

The Board has approved, subject to shareholder approval, an Agreement and Plan of Reorganization (the "Agreement") between the Trust, on behalf of BNY Mellon Corporate Bond Fund and BNY Mellon Intermediate Bond Fund (collectively, the "Predecessor Funds"), and BNY Mellon ETF Trust II, on behalf of BNY Mellon Core Plus ETF and BNY Mellon Active Core Bond ETF, respectively (collectively, the "Acquiring ETFs"). If approved by each Predecessor Fund's shareholders, the Predecessor Funds, which currently operate as mutual funds, will be converted into an exchange-traded fund ("ETF") through its reorganization with and into their respective Acquiring ETFs. Accordingly, if the reorganization is approved by each Predecessor Fund's shareholders, the Predecessor Funds will transfer their assets to the respective Acquiring ETF, in exchange for whole shares of the respective Acquiring ETF and the assumption by the respective Acquiring ETF of each respective Predecessor Fund's liabilities (the "Reorganization").

**37**

------

NOTES TO FINANCIAL STATEMENTS (continued)

Shareholders of the Predecessor Funds as of September 17, 2025 (the "Record Date") will be asked to approve the Agreement on behalf of the Predecessor Funds at a special meeting of shareholders to be held on or about December 9, 2025. If the Agreement is approved, the Reorganization will be consummated on or about the close of business on January 9, 2026 (the "Closing Date").

To facilitate the conversions the following actions will occur:

Effective December 1, 2025, the Predecessor Funds will waive the shareholder service fees. Also approximately two weeks prior to the Closing Date, Investor shares of each Predecessor Fund will convert into Class M shares.

**38**

------

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders of the Funds and Board of Trustees of BNY Mellon Funds Trust:

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of BNY Mellon Bond Fund, BNY Mellon Intermediate Bond Fund and BNY Mellon Corporate Bond Fund (collectively, the "Funds"), each a series of BNY Mellon Funds Trust, including the schedules of investments, as of August 31, 2025, the related statements of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended, and the related notes (collectively, the financial statements) and the financial highlights for each of the years in the five-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of August 31, 2025, the results of their operations for the year then ended, the changes in their net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of August 31, 2025, by correspondence with the custodian. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion. ![](img84fc41f52.gif)

We have served as the auditor of one or more BNY Mellon Investment Adviser, Inc. investment companies since 1994.

New York, New York

October 23, 2025

**39**

------

IMPORTANT TAX INFORMATION (Unaudited)

The following distribution information is being provided in accordance with federal tax law under Sections 871(k)(1) and 881(e) of the Internal Revenue Code.

Each fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended August 31, 2025:

---

| | |
|:---|:---|
|  | **Interest** <br>**Related** <br>**Dividends (%)**<sup>†</sup> <br>|
| BNY Mellon Bond Fund | 90.65 |
| BNY Mellon Intermediate Bond Fund | 86.43 |
| BNY Mellon Corporate Bond Fund | 73.17 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| The above percentages are based on ordinary income dividends paid to shareholders during the Fund's fiscal year. |

---

**40**

------

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies (Unaudited)

N/A

**41**

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Item 9. Proxy Disclosures for Open-End Management Investment Companies (Unaudited)

N/A

**42**

------

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. Each fund is charged for services performed by each fund's Chief Compliance Officer. Compensation paid by each fund during the period to the board members and the Chief Compliance Officer are within Item 7. Statements of Operations as Trustees' fees and expenses and Chief Compliance Officer fees, respectively. The aggregate amount of Trustees' fees and expenses and Chief Compliance Officer fees paid by each fund during the period is shown in the table below.

---

| | |
|:---|:---|
| **Aggregate Amount of Trustees' fees and expenses and Chief Compliance Officer fees ($)** |  |
| BNY Mellon Bond Fund | 231010 |
| BNY Mellon Intermediate Bond Fund | 94558 |
| BNY Mellon Corporate Bond Fund | 88108 |

---

**43**

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited)

At a meeting of the Trust's Board of Trustees (the "Board") held on March 24-25, 2025, the Board considered the renewal of the Trust's Investment Advisory Agreement and Administration Agreement, pursuant to which the Adviser provides the funds with investment advisory services and The Bank of New York Mellon is responsible for the provision of administrative services to the funds (together, the "Agreement"). The Bank of New York Mellon has entered into a Sub-Administration Agreement with the Adviser pursuant to which The Bank of New York Mellon pays the Adviser for performing certain of the administrative services. The Board members, none of whom are "interested persons" (as defined in the Investment Company Act of 1940, as amended) of the Trust, 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.

<u>Analysis of Nature, Extent, and Quality of Services Provided to the Funds.</u> 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 the funds in the Trust, including the funds. The Adviser provided the number of open accounts in each fund, each fund's asset size and the allocation of fund assets among distribution channels. The Adviser also had previously provided information regarding the distribution channel(s) of the funds and the need to be able to provide ongoing shareholder services to each distribution channel, as applicable to each fund.

The Board also considered research support available to, and portfolio management capabilities of, each 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.

<u>Comparative Analysis of the Funds' Performance and Management Fees and Expense Ratios.</u> For each fund, 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 Class M shares with the performance of a group of institutional 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 funds in the particular Lipper classification (the "Performance Universe"), all for various periods ended December 31, 2024, 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 all institutional funds in the particular Lipper classification, excluding outliers (the "Expense Universe"). The information for each comparison 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 each fund and comparison funds and the end date selected. The Board also considered the funds' performance in light of overall financial market conditions.

Management Fee and Expense Ratio Comparisons. For each fund, the Board reviewed and considered the contractual management fee rate (i.e., the aggregate of the investment advisory and administration fees pursuant to the Investment Advisory Agreement and Administration Agreement) 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, which included any reductions for an expense limitation arrangement in place that reduced the management fee paid to the Adviser. 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.

For BNY Mellon Bond Fund, representatives of the Adviser reviewed with the Board the management or advisory fees paid by any funds advised by the Adviser in the same Lipper category as the fund (the "Similar Fund(s)") and explained the nature of the Similar Fund(s). 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. The Board considered the relevance of the fee information provided for the Similar Fund(s) to evaluate the appropriateness of the fund's management fee. As to each other fund, representatives of the Adviser noted that there were no Similar Fund(s).

**44**

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As to each fund, 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.

**BNY Mellon Bond Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as core bond funds by Lipper.

The Board discussed with representatives of the Adviser the results of the performance comparisons and considered that the fund's total return performance was below the Performance Group and Performance Universe medians for all periods. The Board also considered that the fund's yield performance was at or above the Performance Group median for six of the ten one-year periods ended December 31st and above the Performance Universe median for eight of the ten one-year periods ended December 31st. 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 discussed with representatives of the Adviser the reasons for the fund's underperformance versus the Performance Group and Performance Universe and noted the relative proximity of the fund's total return performance and yield performance to the Performance Group and Performance Universe medians and benchmark index returns during the periods under review.

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 expense were higher than the Expense Group median and higher than the Expense Universe median total expenses.

**BNY Mellon Intermediate Bond Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as short-intermediate investment grade debt funds by Lipper.

The Board discussed with representatives of the Adviser the results of the performance comparisons and considered that the fund's total return performance was below the Performance Group and Performance Universe medians for all periods. The Board also considered that the fund's yield performance was at or above the Performance Group median for four of the ten one-year periods ended December 31st and above the Performance Universe median for six of the ten one-year periods ended December 31st. The Adviser also provided a comparison of the fund's calendar year total returns to the returns of the fund's benchmark indices. The Board discussed with representatives of the Adviser the reasons for the fund's underperformance versus the Performance Group and Performance Universe during the periods under review and noted that the primary portfolio manager is very experienced with a good long-term track record and continued to apply a consistent investment strategy.

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.

**BNY Mellon Corporate Bond Fund**

The information comparing the fund's performance to that of its Performance Group and Performance Universe consisted of funds classified as BBB-rated corporate debt funds by Lipper.

The Board discussed with representatives of the Adviser the results of the performance comparisons and considered that the fund's total return performance was above the Performance Group and Performance Universe medians for all periods. The Board also considered that the fund's yield performance was at or above the Performance Group medians for eight of the ten one-year periods ended December 31st and above the Performance Universe medians for nine of the ten one-year periods ended December 31st. The Adviser also provided a comparison of the fund's calendar year total returns to the returns of the fund's benchmark indices. The Board noted that the fund had a five-star rating for each of the three-, five- and ten-year periods and a five-star overall rating from Morningstar based on Morningstar's risk-adjusted return measures.

**45**

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited) (continued)

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.

<u>Analysis of Profitability and Economies of Scale.</u> Representatives of the Adviser reviewed the expenses allocated and profit received by the Adviser and its affiliates and the resulting profitability percentage for managing each fund and the aggregate profitability percentage to the Adviser and its affiliates for managing the funds in the BNY Mellon 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 to each fund. The Board also 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 Mellon fund complex. The consulting firm also had analyzed where any economies of scale might emerge in connection with the management of a fund.

As to each fund, the Board considered, on the advice of its counsel, the profitability analysis (1) as part of its evaluation of whether the fees 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 Mellon 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 funds' 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.

&nbsp;&nbsp;&nbsp;&nbsp;●The Board concluded that the nature, extent and quality of the services provided by the Adviser to each fund are satisfactory and appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●With respect to BNY Mellon Bond Fund, the Board determined the fund's overall performance was satisfactory in light of the totality of the information presented.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●With respect to BNY Mellon Intermediate Bond Fund, the Board determined it was satisfied with the manner in which the Adviser monitors and evaluates performance and the primary portfolio manager's long-term track record.

&nbsp;&nbsp;&nbsp;&nbsp;●With respect to BNY Mellon Corporate Bond Fund, the Board was satisfied with each fund's performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●With respect to each fund, the Board concluded that the fees paid pursuant to the Agreement continued to be appropriate under the circumstances and in light of the factors and the totality of the services provided as discussed above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;●The Board determined that the economies of scale which may accrue to the Adviser and its affiliates in connection with the management of the funds had been adequately considered by the Adviser in connection with the fee rate charged to each 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 with respect to each fund, 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 pursuant to the Agreement. The Board also relied on information received on a routine and regular basis throughout the year relating to the operations of the funds and the investment management and other services provided under the Agreement, including information on the investment performance of each fund in comparison to similar mutual funds and benchmark performance indices; general market outlook as applicable to each fund; and compliance reports. In addition, the Board's consideration of the contractual fee arrangements for each fund had the benefit of a number of years of reviews of the Agreement for the funds, during which lengthy discussions took place between the Board and representatives of the Adviser. Certain aspects of the arrangements may receive

**46**

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greater scrutiny in some years than in others, and the Board's conclusions may be based, in part, on its consideration of the respective fund's arrangements, or substantially similar arrangements for the other funds in the Trust, in prior years. The Board determined to renew the Agreement for each fund.

**47**

------© 2025 BNY Mellon Securities Corporation

Code-MFTNCSRAR0825-TB

![](img425d6ec21.gif)

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**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 material 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) [Code of ethics referred to in Item 2](ncsrcodeofethics-jan 2021.htm).

(a)(2) [Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940](ex99-302_mellon.htm).

(a)(3) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) [Certification of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940](ex99-906_mellon.htm) .

**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 Funds Trust

By: <u>/s/ Lisa Sampson</u>

Lisa Sampson

President (Principal Executive Officer)

Date: October 22, 2025

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: <u>/s/ Lisa Sampson</u>

Lisa Sampson

President (Principal Executive Officer)

Date: October 22, 2025

By: <u>/s/ James Windels</u>

James Windels

Treasurer (Principal Financial Officer)

Date: October 22, 2025

**EXHIBIT INDEX**

(a)(1) Code of ethics referred to in Item 2.

(a)(2) 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)

## Ex-99.Code

**THE BNY MELLON FAMILY OF FUNDS**

**BNY MELLON FUNDS TRUST**

**Principal Executive Officer and Senior Financial Officer**

**Code of Ethics**

**I. Covered Officers/Purpose of the Code**

This code of ethics (the "Code"), adopted by the funds in the BNY Mellon Family of Funds and BNY Mellon Funds Trust (each, a "Fund"), applies to each Fund's Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer or Controller, or other persons performing similar functions, each of whom is listed on Exhibit A (the "Covered Officers"), for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· full, fair, accurate, timely and understandable disclosure in reports and documents that the Fund files with, or submits to, the Securities and Exchange Commission (the "SEC") and in other public communications made by the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· compliance with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· accountability for adherence to the Code.

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

**II. Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest**

**Overview.** A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his service to, the Fund. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of his position with the Fund.

Certain conflicts of interest arise out of the relationships between Covered Officers and the Fund and already are subject to conflict of interest provisions in the Investment Company Act of 1940, as amended (the "Investment Company Act"), and the Investment Advisers Act of 1940, as amended (the "Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Fund because of their status as "affiliated persons" of the Fund. The compliance programs and procedures of the Fund and the Fund's investment adviser (the "Adviser") are designed to prevent, or identify and correct, violations of these provisions. The Code does not, and is not intended to, repeat or replace these programs and procedures, and the circumstances they cover fall outside of the parameters of the Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the Fund and the Adviser of which the Covered Officers are also officers or employees. As a result, the Code recognizes that the Covered Officers, in the ordinary course of their duties (whether formally for the Fund or for the Adviser, or for both), will be involved in establishing policies and implementing decisions that will have different effects on the Adviser and the Fund. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Fund and the Adviser and is consistent with the performance by the Covered Officers of their duties as officers of the Fund and, if addressed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, will be deemed to have been handled ethically. In addition, it is recognized by the Fund's Board that the Covered Officers also may be officers or employees of one or more other investment companies covered by this or other codes of ethics.

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Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. Covered Officers should keep in mind that the Code cannot enumerate every possible scenario. The overarching principle of the Code is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Fund.

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not use his personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Fund whereby the Covered Officer would benefit personally to the detriment of the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not cause the Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit of the Fund; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not retaliate against any employee or Covered Officer for reports of potential violations that are made in good faith.

**III. Disclosure and Compliance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Each Covered Officer should familiarize himself with the disclosure requirements generally applicable to the Fund within his area of responsibility;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about the Fund to others, whether within or outside the Fund, including to the Fund's Board members and auditors, and to governmental regulators and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· each Covered Officer should, to the extent appropriate within his area of responsibility, consult with other officers and employees of the Fund and the Adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Fund files with, or submits to, the SEC and in other public communications made by the Fund; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· it is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

**IV. Reporting and Accountability**

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· upon adoption of the Code (or thereafter, as applicable, upon becoming a Covered Officer), affirm in writing to the Board that he has received, read, and understands the Code;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· annually thereafter affirm to the Board that he has complied with the requirements of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· notify the Adviser's General Counsel (the "General Counsel") promptly if he knows of any violation of the Code. Failure to do so is itself a violation of the Code.

The General Counsel is responsible for applying the Code to specific situations in which questions are presented under it and has the authority to interpret the Code in any particular situation. However, waivers sought by any Covered Officer will be considered by the Fund's Board.

The Fund will follow these procedures in investigating and enforcing the Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the General Counsel will take all appropriate action to investigate any potential violations reported to him;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· if, after such investigation, the General Counsel believes that no violation has occurred, the General Counsel is not required to take any further action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any matter that the General Counsel believes is a violation will be reported to the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· if the Board concurs that a violation has occurred, it will consider appropriate action, which may include: review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the Adviser or its board; or dismissal of the Covered Officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the Board will be responsible for granting waivers, as appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any waivers of or amendments to the Code, to the extent required, will be disclosed as provided by SEC rules.

**V. Other Policies and Procedures**

The Code shall be the sole code of ethics adopted by the Fund for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. The Fund's, its principal underwriter's and the Adviser's codes of ethics under Rule 17j-1 under the Investment Company Act and the Adviser's additional policies and procedures, including its Code of Conduct, are separate requirements applying to the Covered Officers and others, and are not part of the Code.

**VI. Amendments**

Except as to Exhibit A, the Code may not be amended except in written form, which is specifically approved or ratified by a majority vote of the Fund's Board, including a majority of independent Board members.

**VII. Confidentiality**

All reports and records prepared or maintained pursuant to the Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or the Code, such matters shall not be disclosed to anyone other than the appropriate Funds and their counsel, the appropriate Boards (or Committees) and their counsel and the Adviser.

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**VIII. Internal Use**

The Code is intended solely for the internal use by the Fund and does not constitute an admission, by or on behalf of the Fund, as to any fact, circumstance, or legal conclusion.

Dated as of: January 14, 2021

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**Exhibit A**

**Persons Covered by the Code of Ethics**

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp; David J. DiPetrillo | &nbsp;&nbsp; President | &nbsp;&nbsp; (Principal Executive Officer, BNY Mellon Family of Funds) |
| &nbsp;&nbsp; Lisa M. Sampson | &nbsp;&nbsp; President | &nbsp;&nbsp; (Principal Executive Officer, BNY Mellon Funds Trust) |
| &nbsp;&nbsp; James M. Windels | &nbsp;&nbsp; Treasurer | &nbsp;&nbsp; (Principal Financial and Accounting Officer) |

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## Ex-99.Cert

[EX-99.CERT]—Exhibit (a)(2)

**SECTION 302 CERTIFICATION**

I, Lisa Sampson, certify that:

1. I have reviewed this report on Form N-CSR of BNY Mellon Funds Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

By: <u>/s/ Lisa Sampson</u>

Lisa Sampson

President (Principal Executive Officer)

Date: October 22, 2025

**SECTION 302 CERTIFICATION**

I, James Windels, certify that:

1. I have reviewed this report on Form N-CSR of BNY Mellon Funds Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

By: <u>/s/ James Windels</u>

James Windels

Treasurer (Principal Financial Officer)

Date: October 22, 2025

## Exhibit 99.906

[EX-99.906CERT]

Exhibit (b)

**SECTION 906 CERTIFICATIONS**

In connection with this report on Form N-CSR for the Registrant as furnished to the Securities and Exchange Commission on the date hereof (the "Report"), the undersigned hereby certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

By: <u>/s/ Lisa Sampson</u>

Lisa Sampson

President (Principal Executive Officer)<br>

Date: October 22, 2025

By: <u>/s/ James Windels</u>

James Windels

Treasurer (Principal Financial Officer)

Date: October 22, 2025

*This certificate is furnished pursuant to the requirements of Form N-CSR and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.*