# EDGAR Filing Document

**Accession Number:** 0001111565
**File Stem:** 0000030146-26-000215
**Filing Date:** 2026-4
**Character Count:** 516265
**Document Hash:** 07490ed50dc19269086a163dd03acd1b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000030146-26-000215.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0000030146-26-000215

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 43

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260430

**EFFECTIVENESS DATE**: 20260430

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09903
- **FILM NUMBER:** 26923451

**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 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           |

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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:

#### 2/28/26
ITEM 1 - Reports to Stockholders

BNY Mellon Asset Allocation Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Class M – MPBLX
This semi-annual shareholder report contains important information about BNY Mellon Asset Allocation Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** |
| Class M<sup>\*</sup> | $27 0.53%<sup>\*\*</sup> |

---

---

| |
|:---|
| \*<sup>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.</sup> |
| \*\*<sup>Annualized.</sup> |

---

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $463 | 527 | 19.87% |

---

 **Portfolio Holdings (as of 2/28/26)**

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

![Graphical Representation - Top N Holdings Chart](chartimages_11494082.jpg)

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

![Graphical Representation - Allocation 1 Chart](chartimages_11494058.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. 

 **This is a summary of certain changes to the Fund since September 1, 2025 . For more complete information, you may review the Fund's current prospectus dated December 31, 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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0967SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon Asset Allocation Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Investor Shares – MIBLX
This semi-annual shareholder report contains important information about BNY Mellon Asset Allocation Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** |
| Investor Shares<sup>\*</sup> | $40 0.78%<sup>\*\*</sup> |

---

---

| |
|:---|
| \*<sup>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.</sup> |
| \*\*<sup>Annualized.</sup> |

---

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $463 | 527 | 19.87% |

---

 **Portfolio Holdings (as of 2/28/26)**

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

![Graphical Representation - Top N Holdings Chart](chartimages_11494133.jpg)

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

![Graphical Representation - Allocation 1 Chart](chartimages_11494109.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. 

 **This is a summary of certain changes to the Fund since September 1, 2025 . For more complete information, you may review the Fund's current prospectus dated December 31, 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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0974SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon Bond Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Class M – MPBFX
This semi-annual shareholder report contains important information about BNY Mellon Bond Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class M | $30 | 0.59%\* |

---

\* <sup>Annualized.</sup>

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $1205 | 190 | 30.95% |

---

 **Portfolio Holdings (as of 2/28/26)**

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

![Graphical Representation - Top N Holdings Chart](chartimages_11494184.jpg)

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

![Graphical Representation - Allocation 1 Chart](chartimages_11494160.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. 

 **This is a summary of certain changes to the Fund since September 1, 2025 . For more complete information, you may review the Fund's current prospectus dated December 31, 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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0961SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon Bond Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Investor Shares – MIBDX
This semi-annual shareholder report contains important information about BNY Mellon Bond Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Investor Shares | $42 | 0.84%\* |

---

\* <sup>Annualized.</sup>

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $1205 | 190 | 30.95% |

---

 **Portfolio Holdings (as of 2/28/26)**

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

![Graphical Representation - Top N Holdings Chart](chartimages_11494235.jpg)

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

![Graphical Representation - Allocation 1 Chart](chartimages_11494211.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. 

 **This is a summary of certain changes to the Fund since September 1, 2025 . For more complete information, you may review the Fund's current prospectus dated December 31, 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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0968SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon Emerging Markets Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Class M – MEMKX
This semi-annual shareholder report contains important information about BNY Mellon Emerging Markets Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** |
| Class M<sup>\*</sup> | $66 1.20%<sup>\*\*</sup> |

---

---

| |
|:---|
| \*<sup>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.</sup> |
| \*\*<sup>Annualized.</sup> |

---

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $201 | 70 | 42.38% |

---

 **Portfolio Holdings (as of 2/28/26)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_11494286.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_11494262.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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0960SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon Emerging Markets Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Investor Shares – MIEGX
This semi-annual shareholder report contains important information about BNY Mellon Emerging Markets Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** |
| Investor Shares<sup>\*</sup> | $80 1.45%<sup>\*\*</sup> |

---

---

| |
|:---|
| \*<sup>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.</sup> |
| \*\*<sup>Annualized.</sup> |

---

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $201 | 70 | 42.38% |

---

 **Portfolio Holdings (as of 2/28/26)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_11494337.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_11494313.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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0908SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon International Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Class M – MPITX
This semi-annual shareholder report contains important information about BNY Mellon International Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** |
| Class M<sup>\*</sup> | $49 0.89%<sup>\*\*</sup> |

---

---

| |
|:---|
| \*<sup>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.</sup> |
| \*\*<sup>Annualized.</sup> |

---

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $249 | 70 | 69.36% |

---

 **Portfolio Holdings (as of 2/28/26)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_11494694.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_11494670.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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0959SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon International Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Investor Shares – MIINX
This semi-annual shareholder report contains important information about BNY Mellon International Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | |
|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** |
| Investor Shares<sup>\*</sup> | $63 1.14%<sup>\*\*</sup> |

---

---

| |
|:---|
| \*<sup>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.</sup> |
| \*\*<sup>Annualized.</sup> |

---

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $249 | 70 | 69.36% |

---

 **Portfolio Holdings (as of 2/28/26)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_11494745.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_11494721.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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0907SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon Massachusetts Intermediate Municipal Bond Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Class M – MMBMX
This semi-annual shareholder report contains important information about BNY Mellon Massachusetts Intermediate Municipal Bond Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class M | $33 | 0.65%\* |

---

\* <sup>Annualized.</sup>

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $115 | 98 | 21.95% |

---

 **Portfolio Holdings (as of 2/28/26)**

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

![Graphical Representation - Top N Holdings Chart](chartimages_11494388.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. 

 **This is a summary of certain changes to the Fund since September 1, 2025 . For more complete information, you may review the Fund's current prospectus dated December 31, 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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0912SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon Massachusetts Intermediate Municipal Bond Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Investor Shares – MMBIX
This semi-annual shareholder report contains important information about BNY Mellon Massachusetts Intermediate Municipal Bond Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Investor Shares | $46 | 0.90%\* |

---

\* <sup>Annualized.</sup>

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $115 | 98 | 21.95% |

---

 **Portfolio Holdings (as of 2/28/26)**

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

![Graphical Representation - Top N Holdings Chart](chartimages_11494439.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. 

 **This is a summary of certain changes to the Fund since September 1, 2025 . For more complete information, you may review the Fund's current prospectus dated December 31, 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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0911SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon Mid Cap Multi-Strategy Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Class M – MPMCX
This semi-annual shareholder report contains important information about BNY Mellon Mid Cap Multi-Strategy Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class M | $50 | 0.98%\* |

---

\* <sup>Annualized.</sup>

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $138 | 574 | 30.63% |

---

 **Portfolio Holdings (as of 2/28/26)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_11494490.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_11494466.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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0957SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon Mid Cap Multi-Strategy Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Investor Shares – MIMSX
This semi-annual shareholder report contains important information about BNY Mellon Mid Cap Multi-Strategy Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Investor Shares | $63 | 1.23%\* |

---

\* <sup>Annualized.</sup>

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $138 | 574 | 30.63% |

---

 **Portfolio Holdings (as of 2/28/26)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_11494541.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_11494517.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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0905SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon Small Cap Multi-Strategy Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Class M – MPSSX
This semi-annual shareholder report contains important information about BNY Mellon Small Cap Multi-Strategy Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class M | $59 | 1.12%\* |

---

\* <sup>Annualized.</sup>

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $140 | 150 | 64.49% |

---

 **Portfolio Holdings (as of 2/28/26)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_11494592.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_11494568.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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0958SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

BNY Mellon Small Cap Multi-Strategy Fund

#### SEMI-ANNUAL SHAREHOLDER REPORT

#### February 28, 2026

#### Investor Shares – MISCX
This semi-annual shareholder report contains important information about BNY Mellon Small Cap Multi-Strategy Fund (the "Fund") for the period of September 1, 2025 to February 28, 2026. 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 six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Investor Shares | $72 | 1.37%\* |

---

\* <sup>Annualized.</sup>

 **KEY FUND STATISTICS (AS OF 2/28/26)**

---

| | | |
|:---|:---|:---|
| **<br> Fund Size (Millions)** | **<br> Number of Holdings** | **<br> Portfolio Turnover** |
| $140 | 150 | 64.49% |

---

 **Portfolio Holdings (as of 2/28/26)**

 **Top Ten Holdings (Based on Net Assets) <sup>\*</sup>**![Graphical Representation - Top N Holdings Chart](chartimages_11494643.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_11494619.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**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0906SA0226

![TSR- BNY Investment Logo](images_30742.jpg)

------

**Item 2.** **Code of Ethics.**

Not applicable.

**Item 3.** **Audit Committee Financial Expert.**

Not applicable.

**Item 4.** **Principal Accountant Fees and Services.**

Not applicable.

**Item 5.** **Audit Committee of Listed Registrants.**

Not applicable.

**Item 6.** **Investments.**

Not applicable.

**BNY Mellon Funds Trust**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Funds** | **Ticker Symbols** | **Ticker Symbols** |
|  | Class M | Investor Shares |
| 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 |

---

**SEMI-ANNUAL FINANCIALS AND OTHER INFORMATION**

February 28, 2026

![](img1d6ae53b1.gif)

------

**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 Semi-Annual Financials and Other Information only contains Items 7-11 required in Form N-CSR. All other required items will be filed with the Securities and Exchange Commission (the "SEC").

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **[Item 7. Financial Statements and Financial Highlights for Open-End Management](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_SOI-Continued-4714_1)**<br> **[Investment Companies](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_SOI-Continued-4714_1)**<br>| 2 |
| [Schedules of Investments](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_SOI-Continued-4714_1) | 2 |
| [Statements of Assets and Liabilities](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_FS-Continued-4714_1) | 44 |
| [Statements of Operations](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_FS-Continued-4714_3) | 46 |
| [Statements of Changes in Net Assets](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_FS-Continued-4714_5) | 48 |
| [Financial Highlights](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_FIHI-Continued-4714_1) | 54 |
| [Notes to Financial Statements](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_NTF-Continued-4714_1) | 64 |
| **[Item 8. Changes in and Disagreements with Accountants for Open-End Management](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_CDA-Continued-4714_1)**<br> **[Investment Companies](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_CDA-Continued-4714_1)**<br>| 76 |
| **[Item 9. Proxy Disclosures for Open-End Management Investment Companies](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_PRXD-Continued-4714_1)** | 77 |
| **[Item 10. Remuneration Paid to Directors, Officers, and Other of Open-End](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_RMNP-Continued_1)**<br> **[Management Investment Companies](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_RMNP-Continued_1)**<br>| 78 |
| **[Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts](#xx_cc4a3f38-1971-4c3d-aa14-a6e9accfa6e0_AAA-Continued-4714_1)** | 79 |

---

------

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

SCHEDULES OF INVESTMENTS

February 28, 2026 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Mid Cap Multi-Strategy Fund** | **BNY Mellon Mid Cap Multi-Strategy Fund** | **BNY Mellon Mid Cap Multi-Strategy Fund** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 96.5%** | **Equity Securities - Common Stocks — 96.5%** | **Equity Securities - Common Stocks — 96.5%** |
| **Automobiles & Components — .7%** | **Automobiles & Components — .7%** | **Automobiles & Components — .7%** |
| BorgWarner, Inc. | 1515 | 87219 |
| Ford Motor Co. | 10805 | 152242 |
| Gentex Corp. | 8209 | 192091 |
| Patrick Industries, Inc. | 3412 | 422371 |
| QuantumScape Corp.<sup>(a),(b)</sup> <br>| 3455 | 23909 |
| Rivian Automotive, Inc., Cl. A<sup>(a),(b)</sup> <br>| 3425 | 52505 |
| Thor Industries, Inc. | 636 | 61139 |
|  |  | **991476** |
| **Banks — 2.2%** | **Banks — 2.2%** | **Banks — 2.2%** |
| Columbia Banking System, Inc. | 8479 | 241227 |
| East West Bancorp, Inc. | 3073 | 336340 |
| Fifth Third Bancorp | 6203 | 306862 |
| First Horizon Corp. | 16172 | 384732 |
| FNB Corp. | 10020 | 170240 |
| Huntington Bancshares, Inc. | 19351 | 325097 |
| M&T Bank Corp. | 151 | 32764 |
| Pinnacle Financial Partners, Inc. | 1113 | 101016 |
| Popular, Inc. | 1625 | 219960 |
| Regions Financial Corp. | 6460 | 179782 |
| SouthState Bank Corp. | 3881 | 382938 |
| Webster Financial Corp. | 1597 | 115192 |
| Wintrust Financial Corp. | 830 | 119570 |
| Zions Bancorp NA | 2720 | 155801 |
|  |  | **3071521** |
| **Capital Goods — 16.3%** | **Capital Goods — 16.3%** | **Capital Goods — 16.3%** |
| 3M Co. | 754 | 124651 |
| Advanced Drainage Systems, Inc. | 3528 | 604488 |
| AECOM | 943 | 92395 |
| AeroVironment, Inc.<sup>(a)</sup> <br>| 1719 | 433618 |
| Allegion PLC | 2219 | 357592 |
| Allison Transmission Holdings, Inc. | 1187 | 148731 |
| AMETEK, Inc. | 3980 | 952096 |
| API Group Corp.<sup>(a)</sup> <br>| 5412 | 240618 |
| Axon Enterprise, Inc.<sup>(a)</sup> <br>| 1860 | 1008864 |
| Builders FirstSource, Inc.<sup>(a)</sup> <br>| 951 | 99180 |
| BWX Technologies, Inc. | 400 | 82392 |
| Carlisle Companies, Inc. | 943 | 372268 |
| Carrier Global Corp. | 4610 | 296884 |
| Comfort Systems USA, Inc. | 195 | 278727 |
| Cummins, Inc. | 594 | 346819 |
| Curtiss-Wright Corp. | 1104 | 773164 |
| DNOW, Inc.<sup>(a)</sup> <br>| 645 | 7598 |
| Donaldson Co., Inc. | 1215 | 112703 |
| Dover Corp. | 2131 | 480540 |
| Everus Construction Group, Inc.<sup>(a)</sup> <br>| 354 | 42788 |
| Fastenal Co. | 6185 | 284757 |

---

**2**

------

---

| | | |
|:---|:---|:---|
| **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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Capital Goods — 16.3% (continued)** | **Capital Goods — 16.3% (continued)** | **Capital Goods — 16.3% (continued)** |
| Ferguson Enterprises, Inc. | 620 | 161671 |
| Flowserve Corp. | 10771 | 953449 |
| Fortune Brands Innovations, Inc. | 15640 | 849878 |
| FTAI Aviation Ltd. | 438 | 133940 |
| Gates Industrial Corp. PLC<sup>(a)</sup> <br>| 10313 | 284329 |
| Generac Holdings, Inc.<sup>(a)</sup> <br>| 1396 | 314617 |
| HEICO Corp., Cl. A | 4139 | 993815 |
| Hexcel Corp.<sup>(b)</sup> <br>| 670 | 62102 |
| Howmet Aerospace, Inc. | 2572 | 675227 |
| Hubbell, Inc. | 1228 | 628282 |
| Huntington Ingalls Industries, Inc. | 248 | 110241 |
| IDEX Corp. | 3255 | 681825 |
| Ingersoll Rand, Inc. | 7083 | 666794 |
| ITT, Inc. | 395 | 79952 |
| Karman Holdings, Inc.<sup>(a)</sup> <br>| 6547 | 576856 |
| L3Harris Technologies, Inc. | 1396 | 508898 |
| Lincoln Electric Holdings, Inc. | 1007 | 289059 |
| Masco Corp. | 9928 | 711043 |
| MasTec, Inc.<sup>(a)</sup> <br>| 182 | 54240 |
| Masterbrand, Inc.<sup>(a)</sup> <br>| 3909 | 39559 |
| MSC Industrial Direct Co., Inc., Cl. A | 1002 | 94028 |
| Nordson Corp. | 574 | 168435 |
| nVent Electric PLC | 1060 | 125462 |
| Owens Corning | 960 | 117187 |
| Parker-Hannifin Corp. | 95 | 95872 |
| Quanta Services, Inc. | 1196 | 673444 |
| QXO, Inc.<sup>(a),(b)</sup> <br>| 3131 | 74987 |
| Regal Rexnord Corp. | 3300 | 729234 |
| Resideo Technologies, Inc.<sup>(a)</sup> <br>| 2378 | 92029 |
| Rocket Lab Corp.<sup>(a)</sup> <br>| 1640 | 113324 |
| Rockwell Automation, Inc. | 535 | 217986 |
| Sensata Technologies Holding PLC | 225 | 8401 |
| Snap-on, Inc. | 513 | 197618 |
| Textron, Inc. | 3537 | 348925 |
| The Timken Company | 7626 | 826506 |
| UFP Industries, Inc. | 1053 | 108364 |
| United Rentals, Inc. | 346 | 290640 |
| Valmont Industries, Inc. | 47 | 21617 |
| Vertiv Holdings Co., Cl. A | 1655 | 421843 |
| W.W. Grainger, Inc. | 246 | 281604 |
| Watsco, Inc.<sup>(b)</sup> <br>| 1254 | 523332 |
| Watts Water Technologies, Inc., Cl. A | 456 | 149905 |
| WESCO International, Inc. | 1275 | 369112 |
| Westinghouse Air Brake Technologies Corp. | 1142 | 301431 |
| Xylem, Inc. | 1586 | 205482 |
|  |  | **22473418** |
| **Commercial & Professional Services — 3.8%** | **Commercial & Professional Services — 3.8%** | **Commercial & Professional Services — 3.8%** |
| Amentum Holdings, Inc.<sup>(a),(b)</sup> <br>| 1345 | 40175 |
| Booz Allen Hamilton Holding Corp.<sup>(b)</sup> <br>| 217 | 17106 |
| Broadridge Financial Solutions, Inc. | 3306 | 614486 |

---

**3**

------

SCHEDULES OF INVESTMENTS (Unaudited) (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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Commercial & Professional Services — 3.8% (continued)** | **Commercial & Professional Services — 3.8% (continued)** | **Commercial & Professional Services — 3.8% (continued)** |
| CACI International, Inc., Cl. A<sup>(a)</sup> <br>| 775 | 472882 |
| Clean Harbors, Inc.<sup>(a)</sup> <br>| 1189 | 348615 |
| Copart, Inc.<sup>(a)</sup> <br>| 14141 | 538631 |
| Equifax, Inc. | 736 | 153795 |
| Jacobs Solutions, Inc. | 678 | 93469 |
| Leidos Holdings, Inc. | 1075 | 188232 |
| Paychex, Inc. | 2435 | 228038 |
| RB Global, Inc. | 2670 | 269563 |
| Rollins, Inc. | 13507 | 822441 |
| SS&C Technologies Holdings, Inc. | 2960 | 222858 |
| Tetra Tech, Inc. | 7919 | 283817 |
| TriNet Group, Inc. | 51 | 1942 |
| UL Solutions, Inc., Cl. A | 2883 | 242086 |
| Veralto Corp. | 250 | 24358 |
| Verisk Analytics, Inc. | 3357 | 696812 |
|  |  | **5259306** |
| **Consumer Discretionary Distribution & Retail — 5.1%** | **Consumer Discretionary Distribution & Retail — 5.1%** | **Consumer Discretionary Distribution & Retail — 5.1%** |
| AutoZone, Inc.<sup>(a)</sup> <br>| 81 | 304202 |
| Bath & Body Works, Inc. | 2145 | 48820 |
| Best Buy Co., Inc. | 1717 | 106402 |
| Burlington Stores, Inc.<sup>(a)</sup> <br>| 3896 | 1195566 |
| CarMax, Inc.<sup>(a)</sup> <br>| 835 | 36047 |
| Carvana Co.<sup>(a)</sup> <br>| 1225 | 409346 |
| Coupang, Inc.<sup>(a)</sup> <br>| 3330 | 63536 |
| eBay, Inc. | 4110 | 373435 |
| Etsy, Inc.<sup>(a),(b)</sup> <br>| 598 | 32818 |
| Five Below, Inc.<sup>(a)</sup> <br>| 200 | 44706 |
| Genuine Parts Co. | 686 | 81812 |
| Lithia Motors, Inc. | 152 | 42496 |
| LKQ Corp. | 3648 | 120785 |
| Macy's, Inc. | 3280 | 64878 |
| Murphy USA, Inc. | 187 | 73068 |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(a)</sup> <br>| 530 | 56763 |
| O'Reilly Automotive, Inc.<sup>(a)</sup> <br>| 9679 | 908665 |
| Pool Corp. | 2161 | 490936 |
| RH<sup>(a)</sup> <br>| 1421 | 235474 |
| Ross Stores, Inc. | 2315 | 476057 |
| The Gap, Inc. | 10372 | 290831 |
| Tractor Supply Co. | 3759 | 194867 |
| Ulta Beauty, Inc.<sup>(a)</sup> <br>| 692 | 473875 |
| Valvoline, Inc.<sup>(a),(b)</sup> <br>| 5700 | 215460 |
| Warby Parker, Inc., Cl. A<sup>(a)</sup> <br>| 13412 | 335434 |
| Wayfair, Inc., Cl. A<sup>(a),(b)</sup> <br>| 620 | 47325 |
| Williams-Sonoma, Inc.<sup>(b)</sup> <br>| 1565 | 321842 |
|  |  | **7045446** |
| **Consumer Durables & Apparel — 3.2%** | **Consumer Durables & Apparel — 3.2%** | **Consumer Durables & Apparel — 3.2%** |
| Amer Sports, Inc.<sup>(a)</sup> <br>| 10083 | 382952 |
| Brunswick Corp. | 6102 | 485841 |
| Cavco Industries, Inc.<sup>(a)</sup> <br>| 147 | 84857 |
| D.R. Horton, Inc. | 2585 | 414608 |

---

**4**

------

---

| | | |
|:---|:---|:---|
| **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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Consumer Durables & Apparel — 3.2% (continued)** | **Consumer Durables & Apparel — 3.2% (continued)** | **Consumer Durables & Apparel — 3.2% (continued)** |
| Deckers Outdoor Corp.<sup>(a)</sup> <br>| 3059 | 358729 |
| Garmin Ltd. | 752 | 190128 |
| Hasbro, Inc. | 4132 | 411506 |
| Lululemon Athletica, Inc.<sup>(a)</sup> <br>| 1030 | 190725 |
| NVR, Inc.<sup>(a)</sup> <br>| 52 | 390925 |
| On Holding AG, Cl. A<sup>(a),(b)</sup> <br>| 176 | 8181 |
| PulteGroup, Inc. | 1729 | 237219 |
| PVH Corp. | 178 | 12211 |
| Ralph Lauren Corp. | 407 | 147578 |
| Somnigroup International, Inc. | 2293 | 205246 |
| Tapestry, Inc. | 1215 | 188896 |
| Toll Brothers, Inc. | 1161 | 182556 |
| TopBuild Corp.<sup>(a)</sup> <br>| 449 | 201287 |
| VF Corp.<sup>(b)</sup> <br>| 3140 | 60979 |
| YETI Holdings, Inc.<sup>(a)</sup> <br>| 6795 | 297009 |
|  |  | **4451433** |
| **Consumer Services — 3.2%** | **Consumer Services — 3.2%** | **Consumer Services — 3.2%** |
| Aramark | 4982 | 208497 |
| Black Rock Coffee Bar, Inc., Cl. A<sup>(a)</sup> <br>| 9891 | 131946 |
| Boyd Gaming Corp. | 1629 | 135582 |
| Caesars Entertainment, Inc.<sup>(a)</sup> <br>| 1300 | 32565 |
| Carnival Corp. | 5280 | 166584 |
| Cava Group, Inc.<sup>(a),(b)</sup> <br>| 289 | 23834 |
| Churchill Downs, Inc. | 713 | 65546 |
| Darden Restaurants, Inc. | 1169 | 249991 |
| Domino's Pizza, Inc. | 106 | 42666 |
| DraftKings, Inc., Cl. A<sup>(a)</sup> <br>| 2460 | 58646 |
| Dutch Bros, Inc., Cl. A<sup>(a)</sup> <br>| 590 | 31630 |
| Expedia Group, Inc. | 1898 | 409380 |
| Frontdoor, Inc.<sup>(a)</sup> <br>| 2488 | 170602 |
| H&R Block, Inc. | 1765 | 54044 |
| Hilton Worldwide Holdings, Inc. | 1262 | 393466 |
| Hyatt Hotels Corp., Cl. A<sup>(b)</sup> <br>| 641 | 103521 |
| Las Vegas Sands Corp. | 5158 | 292562 |
| Liberty Live Holdings, Inc., Cl. C<sup>(a)</sup> <br>| 701 | 69855 |
| Marriott International, Inc., Cl. A | 225 | 76889 |
| MGM Resorts International<sup>(a),(b)</sup> <br>| 2230 | 82198 |
| Norwegian Cruise Line Holdings Ltd.<sup>(a)</sup> <br>| 2770 | 68668 |
| Royal Caribbean Cruises Ltd. | 1183 | 367866 |
| Service Corp. International | 1295 | 109013 |
| Travel + Leisure Co. | 850 | 62645 |
| Wingstop, Inc.<sup>(b)</sup> <br>| 2136 | 554313 |
| Wyndham Hotels & Resorts, Inc.<sup>(b)</sup> <br>| 2592 | 212025 |
| Wynn Resorts Ltd.<sup>(b)</sup> <br>| 390 | 42194 |
| Yum! Brands, Inc. | 879 | 147813 |
|  |  | **4364541** |
| **Consumer Staples Distribution & Retail — 1.5%** | **Consumer Staples Distribution & Retail — 1.5%** | **Consumer Staples Distribution & Retail — 1.5%** |
| BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> <br>| 175 | 17288 |
| Casey's General Stores, Inc. | 1244 | 852874 |
| Dollar General Corp. | 865 | 135148 |

---

**5**

------

SCHEDULES OF INVESTMENTS (Unaudited) (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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Consumer Staples Distribution & Retail — 1.5% (continued)** | **Consumer Staples Distribution & Retail — 1.5% (continued)** | **Consumer Staples Distribution & Retail — 1.5% (continued)** |
| Dollar Tree, Inc.<sup>(a)</sup> <br>| 787 | 99540 |
| Maplebear, Inc.<sup>(a),(b)</sup> <br>| 706 | 26482 |
| Sysco Corp. | 2824 | 257436 |
| The Kroger Company | 3700 | 252488 |
| US Foods Holding Corp.<sup>(a)</sup> <br>| 5038 | 486721 |
|  |  | **2127977** |
| **Energy — 4.6%** | **Energy — 4.6%** | **Energy — 4.6%** |
| Antero Resources Corp.<sup>(a)</sup> <br>| 8776 | 323045 |
| APA Corp.<sup>(b)</sup> <br>| 3565 | 108269 |
| Baker Hughes Co. | 5635 | 367740 |
| Cheniere Energy, Inc. | 1399 | 329786 |
| Chord Energy Corp.<sup>(b)</sup> <br>| 488 | 52885 |
| Devon Energy Corp. | 5053 | 219957 |
| Diamondback Energy, Inc. | 4882 | 849859 |
| DT Midstream, Inc. | 1055 | 146476 |
| EQT Corp. | 6001 | 368581 |
| Expand Energy Corp. | 300 | 32376 |
| Halliburton Co. | 4355 | 156780 |
| Kinder Morgan, Inc. | 4560 | 151711 |
| Marathon Petroleum Corp. | 1865 | 369662 |
| ONEOK, Inc. | 4365 | 361291 |
| Permian Resources Corp., Cl. A | 10695 | 195612 |
| Phillips 66 | 2337 | 360669 |
| Range Resources Corp. | 4486 | 185182 |
| Targa Resources Corp. | 1429 | 336958 |
| TechnipFMC PLC | 5002 | 331683 |
| Texas Pacific Land Corp. | 198 | 103809 |
| Valero Energy Corp. | 2909 | 595298 |
| Weatherford International PLC | 3772 | 397795 |
|  |  | **6345424** |
| **Equity Real Estate Investment Trusts — 4.4%** | **Equity Real Estate Investment Trusts — 4.4%** | **Equity Real Estate Investment Trusts — 4.4%** |
| Alexandria Real Estate Equities, Inc.<sup>(c)</sup> <br>| 1163 | 62849 |
| Americold Realty Trust, Inc.<sup>(b),(c)</sup> <br>| 1700 | 22763 |
| Brixmor Property Group, Inc.<sup>(c)</sup> <br>| 6030 | 182528 |
| BXP, Inc.<sup>(c)</sup> <br>| 1054 | 60689 |
| Camden Property Trust<sup>(c)</sup> <br>| 1327 | 143767 |
| Crown Castle, Inc.<sup>(c)</sup> <br>| 567 | 50769 |
| CubeSmart<sup>(c)</sup> <br>| 3560 | 146458 |
| Digital Realty Trust, Inc.<sup>(c)</sup> <br>| 3222 | 570939 |
| EastGroup Properties, Inc.<sup>(c)</sup> <br>| 763 | 149785 |
| Equity LifeStyle Properties, Inc.<sup>(c)</sup> <br>| 5002 | 335934 |
| Equity Residential<sup>(c)</sup> <br>| 1381 | 87293 |
| Essex Property Trust, Inc.<sup>(c)</sup> <br>| 656 | 167352 |
| Extra Space Storage, Inc.<sup>(c)</sup> <br>| 2637 | 398266 |
| Federal Realty Investment Trust<sup>(c)</sup> <br>| 2813 | 305970 |
| Healthpeak Properties, Inc.<sup>(c)</sup> <br>| 16245 | 287212 |
| Host Hotels & Resorts, Inc.<sup>(c)</sup> <br>| 5604 | 109782 |
| Iron Mountain, Inc.<sup>(c)</sup> <br>| 1454 | 157512 |
| Kimco Realty Corp.<sup>(c)</sup> <br>| 5869 | 138215 |
| Lamar Advertising Co., Cl. A<sup>(c)</sup> <br>| 2199 | 302890 |

---

**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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Equity Real Estate Investment Trusts — 4.4% (continued)** | **Equity Real Estate Investment Trusts — 4.4% (continued)** | **Equity Real Estate Investment Trusts — 4.4% (continued)** |
| Lineage, Inc.<sup>(c)</sup> <br>| 5156 | 208921 |
| Medical Properties Trust, Inc.<sup>(b),(c)</sup> <br>| 3675 | 21168 |
| Omega Healthcare Investors, Inc.<sup>(c)</sup> <br>| 1620 | 78197 |
| Rayonier, Inc.<sup>(c)</sup> <br>| 3313 | 71196 |
| Realty Income Corp.<sup>(c)</sup> <br>| 3755 | 251585 |
| Regency Centers Corp.<sup>(c)</sup> <br>| 3240 | 255960 |
| Ryman Hospitality Properties, Inc.<sup>(c)</sup> <br>| 1658 | 163728 |
| Simon Property Group, Inc.<sup>(c)</sup> <br>| 2794 | 569557 |
| Ventas, Inc.<sup>(c)</sup> <br>| 1765 | 152073 |
| VICI Properties, Inc.<sup>(c)</sup> <br>| 12258 | 370314 |
| Weyerhaeuser Co.<sup>(c)</sup> <br>| 12707 | 311703 |
|  |  | **6135375** |
| **Financial Services — 5.7%** | **Financial Services — 5.7%** | **Financial Services — 5.7%** |
| Affiliated Managers Group, Inc. | 585 | 179115 |
| Affirm Holdings, Inc.<sup>(a)</sup> <br>| 1415 | 66477 |
| Ally Financial, Inc. | 2925 | 115362 |
| Ameriprise Financial, Inc. | 1408 | 661929 |
| Block, Inc.<sup>(a)</sup> <br>| 2754 | 175430 |
| Blue Owl Capital, Inc.<sup>(b)</sup> <br>| 4005 | 42253 |
| Cboe Global Markets, Inc. | 225 | 67437 |
| Coinbase Global, Inc., Cl. A<sup>(a)</sup> <br>| 1063 | 186929 |
| Corpay, Inc.<sup>(a)</sup> <br>| 634 | 206113 |
| Credit Acceptance Corp.<sup>(a)</sup> <br>| 205 | 97002 |
| Equitable Holdings, Inc. | 2983 | 119976 |
| Evercore, Inc., Cl. A | 687 | 212173 |
| FactSet Research Systems, Inc. | 729 | 158055 |
| Fidelity National Information Services, Inc. | 4294 | 218822 |
| Global Payments, Inc. | 1892 | 144662 |
| Intercontinental Exchange, Inc. | 3179 | 521769 |
| Invesco Ltd. | 2195 | 57641 |
| Jack Henry & Associates, Inc. | 794 | 128993 |
| Jefferies Financial Group, Inc. | 1275 | 56610 |
| LPL Financial Holdings, Inc. | 2185 | 656330 |
| MarketAxess Holdings, Inc. | 7 | 1344 |
| MGIC Investment Corp. | 4090 | 108508 |
| Moelis & Co., Cl. A | 2697 | 160094 |
| MSCI, Inc. | 451 | 257895 |
| Nasdaq, Inc. | 3867 | 338672 |
| Northern Trust Corp. | 1175 | 168131 |
| Raymond James Financial, Inc. | 4061 | 621658 |
| Robinhood Markets, Inc., Cl. A<sup>(a)</sup> <br>| 3185 | 241582 |
| Rocket Companies, Inc., Cl. A | 31344 | 570147 |
| SLM Corp.<sup>(b)</sup> <br>| 4120 | 77209 |
| SoFi Technologies, Inc.<sup>(a),(b)</sup> <br>| 5570 | 98923 |
| Starwood Property Trust, Inc.<sup>(b),(c)</sup> <br>| 2130 | 37935 |
| State Street Corp. | 1680 | 216082 |
| Stifel Financial Corp. | 2207 | 163391 |
| Synchrony Financial | 1378 | 95234 |
| The Carlyle Group, Inc. | 1144 | 59477 |
| Toast, Inc., Cl. A<sup>(a)</sup> <br>| 2140 | 58443 |

---

**7**

------

SCHEDULES OF INVESTMENTS (Unaudited) (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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Financial Services — 5.7% (continued)** | **Financial Services — 5.7% (continued)** | **Financial Services — 5.7% (continued)** |
| Voya Financial, Inc. | 5442 | 363961 |
| WEX, Inc.<sup>(a)</sup> <br>| 617 | 92050 |
| XP, Inc., Cl. A | 2325 | 50057 |
|  |  | **7853871** |
| **Food, Beverage & Tobacco — 1.9%** | **Food, Beverage & Tobacco — 1.9%** | **Food, Beverage & Tobacco — 1.9%** |
| Archer-Daniels-Midland Co. | 1585 | 109428 |
| Brown-Forman Corp., Cl. B<sup>(b)</sup> <br>| 637 | 18384 |
| Bunge Global SA | 740 | 89281 |
| Cal-Maine Foods, Inc. | 734 | 63939 |
| Celsius Holdings, Inc.<sup>(a),(b)</sup> <br>| 870 | 46641 |
| Coca-Cola Consolidated, Inc. | 1207 | 244297 |
| Coca-Cola Europacific Partners PLC | 1067 | 117829 |
| Conagra Brands, Inc. | 4275 | 82294 |
| Constellation Brands, Inc., Cl. A | 241 | 38044 |
| Darling Ingredients, Inc.<sup>(a)</sup> <br>| 770 | 40933 |
| Flowers Foods, Inc.<sup>(b)</sup> <br>| 895 | 8843 |
| Freshpet, Inc.<sup>(a)</sup> <br>| 5408 | 456705 |
| Ingredion, Inc. | 1067 | 125330 |
| Lamb Weston Holdings, Inc. | 1666 | 80284 |
| McCormick & Co., Inc. | 3541 | 251553 |
| Molson Coors Beverage Co., Cl. B | 5698 | 279145 |
| The Hershey Company | 462 | 109161 |
| The J.M. Smucker Company | 226 | 26205 |
| Tyson Foods, Inc., Cl. A | 6299 | 409372 |
|  |  | **2597668** |
| **Health Care Equipment & Services — 6.2%** | **Health Care Equipment & Services — 6.2%** | **Health Care Equipment & Services — 6.2%** |
| Align Technology, Inc.<sup>(a)</sup> <br>| 1248 | 237245 |
| Baxter International, Inc.<sup>(b)</sup> <br>| 2225 | 45323 |
| Cardinal Health, Inc. | 703 | 161149 |
| Cencora, Inc. | 1684 | 626684 |
| Centene Corp.<sup>(a)</sup> <br>| 4902 | 220002 |
| Dexcom, Inc.<sup>(a)</sup> <br>| 5617 | 412456 |
| Edwards Lifesciences Corp.<sup>(a)</sup> <br>| 2906 | 251282 |
| Encompass Health Corp. | 1225 | 132153 |
| GE HealthCare Technologies, Inc. | 2333 | 196602 |
| GeneDx Holdings Corp.<sup>(a)</sup> <br>| 2248 | 179188 |
| Guardant Health, Inc.<sup>(a)</sup> <br>| 5430 | 509877 |
| HealthEquity, Inc.<sup>(a)</sup> <br>| 4202 | 321411 |
| Henry Schein, Inc.<sup>(a),(b)</sup> <br>| 710 | 58497 |
| Humana, Inc. | 240 | 45730 |
| IDEXX Laboratories, Inc.<sup>(a)</sup> <br>| 1451 | 952915 |
| Insulet Corp.<sup>(a)</sup> <br>| 451 | 111221 |
| Labcorp Holdings, Inc. | 1898 | 548750 |
| McKesson Corp. | 169 | 166865 |
| Molina Healthcare, Inc.<sup>(a)</sup> <br>| 1751 | 269742 |
| Penumbra, Inc.<sup>(a)</sup> <br>| 157 | 54069 |
| Privia Health Group, Inc.<sup>(a)</sup> <br>| 9182 | 218072 |
| Quest Diagnostics, Inc. | 1457 | 308753 |
| ResMed, Inc. | 902 | 231146 |
| Solventum Corp.<sup>(a)</sup> <br>| 2363 | 175335 |

---

**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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Health Care Equipment & Services — 6.2% (continued)** | **Health Care Equipment & Services — 6.2% (continued)** | **Health Care Equipment & Services — 6.2% (continued)** |
| STERIS PLC | 3563 | 899123 |
| Tenet Healthcare Corp.<sup>(a)</sup> <br>| 1431 | 342567 |
| The Cigna Group | 562 | 162879 |
| The Cooper Companies, Inc.<sup>(a)</sup> <br>| 4154 | 347565 |
| Veeva Systems, Inc., Cl. A<sup>(a)</sup> <br>| 1669 | 303775 |
|  |  | **8490376** |
| **Household & Personal Products — .9%** | **Household & Personal Products — .9%** | **Household & Personal Products — .9%** |
| Church & Dwight Co., Inc. | 6547 | 686519 |
| elf Beauty, Inc.<sup>(a),(b)</sup> <br>| 487 | 44828 |
| Kenvue, Inc. | 6040 | 115485 |
| The Clorox Company | 492 | 62563 |
| The Estee Lauder Companies, Inc., Cl. A | 3586 | 392559 |
|  |  | **1301954** |
| **Insurance — 3.7%** | **Insurance — 3.7%** | **Insurance — 3.7%** |
| Arch Capital Group Ltd.<sup>(a)</sup> <br>| 2658 | 266199 |
| Assurant, Inc. | 2851 | 654561 |
| Assured Guaranty Ltd. | 1710 | 147419 |
| Everest Group Ltd. | 474 | 159022 |
| Fidelity National Financial, Inc. | 2450 | 129556 |
| First American Financial Corp. | 1937 | 135803 |
| Markel Group, Inc.<sup>(a)</sup> <br>| 163 | 337813 |
| Old Republic International Corp. | 11508 | 493348 |
| Principal Financial Group, Inc. | 1260 | 120229 |
| Prudential Financial, Inc. | 590 | 58044 |
| Reinsurance Group of America, Inc. | 562 | 121240 |
| RenaissanceRe Holdings Ltd. | 548 | 165748 |
| Ryan Specialty Holdings, Inc. | 14245 | 560541 |
| The Allstate Corp. | 590 | 126567 |
| The Baldwin Insurance Group, Inc.<sup>(a)</sup> <br>| 34909 | 810936 |
| The Hartford Insurance Group, Inc. | 2583 | 363764 |
| The Travelers Companies, Inc. | 401 | 123765 |
| Unum Group | 1565 | 112257 |
| W. R. Berkley Corp. | 2743 | 196673 |
|  |  | **5083485** |
| **Materials — 4.9%** | **Materials — 4.9%** | **Materials — 4.9%** |
| Albemarle Corp. | 520 | 92908 |
| Alcoa Corp. | 940 | 58355 |
| Anglogold Ashanti PLC | 2069 | 264356 |
| Ashland, Inc. | 950 | 59242 |
| Avery Dennison Corp. | 1002 | 196743 |
| Ball Corp. | 3705 | 248717 |
| Celanese Corp. | 545 | 27217 |
| CF Industries Holdings, Inc. | 2360 | 234914 |
| Cleveland-Cliffs, Inc.<sup>(a)</sup> <br>| 3625 | 38642 |
| Commercial Metals Co. | 1733 | 127029 |
| Corteva, Inc. | 3280 | 262794 |
| CRH PLC | 2472 | 296590 |
| Crown Holdings, Inc. | 1960 | 224616 |
| Dow, Inc. | 3150 | 96799 |
| DuPont de Nemours, Inc. | 2730 | 136609 |

---

**9**

------

SCHEDULES OF INVESTMENTS (Unaudited) (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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Materials — 4.9% (continued)** | **Materials — 4.9% (continued)** | **Materials — 4.9% (continued)** |
| Eagle Materials, Inc. | 800 | 179040 |
| Eastman Chemical Co. | 1906 | 143922 |
| Element Solutions, Inc. | 7019 | 246297 |
| Freeport-McMoRan, Inc. | 4093 | 278651 |
| Huntsman Corp. | 3455 | 43706 |
| International Paper Co. | 8705 | 379103 |
| Louisiana-Pacific Corp. | 635 | 53810 |
| LyondellBasell Industries NV, Cl. A<sup>(b)</sup> <br>| 1300 | 74776 |
| Martin Marietta Materials, Inc. | 317 | 214473 |
| MP Materials Corp.<sup>(a),(b)</sup> <br>| 255 | 15012 |
| NewMarket Corp. | 90 | 56341 |
| Newmont Corp. | 2173 | 282490 |
| Nucor Corp. | 2252 | 398334 |
| Olin Corp.<sup>(b)</sup> <br>| 1010 | 25624 |
| Packaging Corp. of America | 1841 | 427370 |
| Reliance, Inc. | 974 | 307433 |
| Royal Gold, Inc. | 467 | 140002 |
| Sealed Air Corp. | 1860 | 77897 |
| Smurfit Westrock PLC | 1335 | 62758 |
| Sonoco Products Co.<sup>(b)</sup> <br>| 1275 | 71999 |
| Steel Dynamics, Inc. | 755 | 145813 |
| The Mosaic Company | 3465 | 96466 |
| Vulcan Materials Co. | 2097 | 650070 |
| Westlake Corp.<sup>(b)</sup> <br>| 212 | 22341 |
|  |  | **6759259** |
| **Media & Entertainment — 1.7%** | **Media & Entertainment — 1.7%** | **Media & Entertainment — 1.7%** |
| Charter Communications, Inc., Cl. A<sup>(a),(b)</sup> <br>| 153 | 35898 |
| Electronic Arts, Inc. | 748 | 150026 |
| Fox Corp., Cl. A<sup>(b)</sup> <br>| 1385 | 78031 |
| IAC, Inc.<sup>(a),(b)</sup> <br>| 1715 | 65719 |
| Liberty Broadband Corp., Cl. C<sup>(a)</sup> <br>| 1111 | 60672 |
| Liberty Media Corp.-Liberty Formula One, Cl. C<sup>(a)</sup> <br>| 4021 | 368283 |
| Live Nation Entertainment, Inc.<sup>(a),(b)</sup> <br>| 891 | 144467 |
| Match Group, Inc. | 2402 | 75903 |
| News Corp., Cl. A | 4505 | 109426 |
| Nexstar Media Group, Inc. | 457 | 114716 |
| Omnicom Group, Inc. | 5534 | 471995 |
| Reddit, Inc., Cl. A<sup>(a)</sup> <br>| 265 | 38640 |
| ROBLOX Corp., Cl. A<sup>(a)</sup> <br>| 2510 | 172336 |
| Roku, Inc.<sup>(a)</sup> <br>| 370 | 36412 |
| Sirius XM Holdings, Inc.<sup>(b)</sup> <br>| 1326 | 29119 |
| Take-Two Interactive Software, Inc.<sup>(a)</sup> <br>| 812 | 171722 |
| The Trade Desk, Inc., Cl. A<sup>(a)</sup> <br>| 1163 | 27703 |
| Warner Bros Discovery, Inc.<sup>(a)</sup> <br>| 9164 | 258150 |
|  |  | **2409218** |
| **Pharmaceuticals, Biotechnology & Life Sciences — 5.3%** | **Pharmaceuticals, Biotechnology & Life Sciences — 5.3%** | **Pharmaceuticals, Biotechnology & Life Sciences — 5.3%** |
| Agilent Technologies, Inc. | 1877 | 227830 |
| Alnylam Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 577 | 192095 |
| Ascendis Pharma A/S, ADR<sup>(a)</sup> <br>| 1406 | 328301 |
| Biogen, Inc.<sup>(a)</sup> <br>| 1160 | 222511 |

---

**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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Pharmaceuticals, Biotechnology & Life Sciences — 5.3% (continued)** | **Pharmaceuticals, Biotechnology & Life Sciences — 5.3% (continued)** | **Pharmaceuticals, Biotechnology & Life Sciences — 5.3% (continued)** |
| Bio-Techne Corp.<sup>(b)</sup> <br>| 8315 | 490585 |
| Bruker Corp.<sup>(b)</sup> <br>| 10439 | 418708 |
| Charles River Laboratories International, Inc.<sup>(a)</sup> <br>| 750 | 133868 |
| Cytokinetics, Inc.<sup>(a)</sup> <br>| 1631 | 101481 |
| Elanco Animal Health, Inc.<sup>(a),(b)</sup> <br>| 14335 | 378444 |
| Exact Sciences Corp.<sup>(a)</sup> <br>| 665 | 68748 |
| Exelixis, Inc.<sup>(a)</sup> <br>| 1340 | 59040 |
| Halozyme Therapeutics, Inc.<sup>(a)</sup> <br>| 925 | 64315 |
| Illumina, Inc.<sup>(a)</sup> <br>| 728 | 97887 |
| Incyte Corp.<sup>(a)</sup> <br>| 2844 | 288012 |
| Insmed, Inc.<sup>(a)</sup> <br>| 630 | 94078 |
| Ionis Pharmaceuticals, Inc.<sup>(a),(b)</sup> <br>| 540 | 43821 |
| IQVIA Holdings, Inc.<sup>(a)</sup> <br>| 1399 | 250155 |
| Jazz Pharmaceuticals PLC<sup>(a)</sup> <br>| 1725 | 327784 |
| Mettler-Toledo International, Inc.<sup>(a)</sup> <br>| 433 | 591777 |
| Mirum Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 3341 | 308341 |
| Moderna, Inc.<sup>(a),(b)</sup> <br>| 1875 | 100444 |
| Natera, Inc.<sup>(a)</sup> <br>| 1704 | 354500 |
| Neurocrine Biosciences, Inc.<sup>(a)</sup> <br>| 532 | 70357 |
| Newamsterdam Pharma Co. NV<sup>(a)</sup> <br>| 2195 | 77835 |
| QIAGEN NV | 3308 | 164738 |
| Repligen Corp.<sup>(a),(b)</sup> <br>| 7793 | 1003193 |
| Revolution Medicines, Inc.<sup>(a)</sup> <br>| 375 | 38258 |
| Rezolute, Inc.<sup>(a)</sup> <br>| 5327 | 17100 |
| Roivant Sciences Ltd.<sup>(a)</sup> <br>| 3200 | 92608 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(a)</sup> <br>| 6173 | 209018 |
| United Therapeutics Corp.<sup>(a)</sup> <br>| 193 | 97253 |
| Viatris, Inc. | 10179 | 151972 |
| Viking Therapeutics, Inc.<sup>(a),(b)</sup> <br>| 810 | 27410 |
| Waters Corp.<sup>(a)</sup> <br>| 431 | 137653 |
| West Pharmaceutical Services, Inc. | 371 | 94360 |
|  |  | **7324480** |
| **Real Estate Management & Development — .5%** | **Real Estate Management & Development — .5%** | **Real Estate Management & Development — .5%** |
| CBRE Group, Inc., Cl. A<sup>(a)</sup> <br>| 1617 | 238766 |
| CoStar Group, Inc.<sup>(a)</sup> <br>| 8369 | 373508 |
| Zillow Group, Inc., Cl. C<sup>(a)</sup> <br>| 1025 | 45736 |
|  |  | **658010** |
| **Semiconductors & Semiconductor Equipment — 3.5%** | **Semiconductors & Semiconductor Equipment — 3.5%** | **Semiconductors & Semiconductor Equipment — 3.5%** |
| Astera Labs, Inc.<sup>(a)</sup> <br>| 570 | 67733 |
| Cirrus Logic, Inc.<sup>(a)</sup> <br>| 379 | 53484 |
| Enphase Energy, Inc.<sup>(a)</sup> <br>| 457 | 19317 |
| Entegris, Inc.<sup>(b)</sup> <br>| 2650 | 350993 |
| First Solar, Inc.<sup>(a)</sup> <br>| 455 | 89726 |
| MACOM Technology Solutions Holdings, Inc.<sup>(a),(b)</sup> <br>| 398 | 98752 |
| Microchip Technology, Inc. | 5447 | 406564 |
| MKS, Inc. | 2235 | 546368 |
| Monolithic Power Systems, Inc. | 765 | 874195 |
| ON Semiconductor Corp.<sup>(a)</sup> <br>| 7746 | 514954 |
| Onto Innovation, Inc.<sup>(a)</sup> <br>| 2778 | 599742 |
| Qnity Electronics, Inc. | 3384 | 428956 |

---

**11**

------

SCHEDULES OF INVESTMENTS (Unaudited) (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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Semiconductors & Semiconductor Equipment — 3.5% (continued)** | **Semiconductors & Semiconductor Equipment — 3.5% (continued)** | **Semiconductors & Semiconductor Equipment — 3.5% (continued)** |
| Qorvo, Inc.<sup>(a)</sup> <br>| 373 | 30922 |
| SiTime Corp.<sup>(a)</sup> <br>| 888 | 353317 |
| Skyworks Solutions, Inc.<sup>(b)</sup> <br>| 1701 | 101346 |
| Teradyne, Inc. | 827 | 264665 |
|  |  | **4801034** |
| **Software & Services — 5.3%** | **Software & Services — 5.3%** | **Software & Services — 5.3%** |
| Akamai Technologies, Inc.<sup>(a)</sup> <br>| 3996 | 393167 |
| Aurora Innovation, Inc.<sup>(a),(b)</sup> <br>| 1040 | 4867 |
| Bentley Systems, Inc., Cl. B | 4095 | 149672 |
| BILL Holdings, Inc.<sup>(a)</sup> <br>| 735 | 32715 |
| BlackLine, Inc.<sup>(a)</sup> <br>| 1308 | 46107 |
| Cadence Design Systems, Inc.<sup>(a)</sup> <br>| 2207 | 665190 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> <br>| 485 | 73754 |
| Cloudflare, Inc., Cl. A<sup>(a)</sup> <br>| 1475 | 253980 |
| Cognizant Technology Solutions Corp., Cl. A | 2770 | 178471 |
| Confluent, Inc., Cl. A<sup>(a)</sup> <br>| 1640 | 50299 |
| Datadog, Inc., Cl. A<sup>(a)</sup> <br>| 4227 | 473255 |
| Docusign, Inc.<sup>(a)</sup> <br>| 4258 | 191908 |
| Dolby Laboratories, Inc., Cl. A | 2273 | 151314 |
| Dynatrace, Inc.<sup>(a)</sup> <br>| 1795 | 64476 |
| Elastic NV<sup>(a)</sup> <br>| 405 | 21088 |
| EPAM Systems, Inc.<sup>(a)</sup> <br>| 2264 | 319224 |
| Fair Isaac Corp.<sup>(a)</sup> <br>| 118 | 166305 |
| Gartner, Inc.<sup>(a)</sup> <br>| 1625 | 255450 |
| Gen Digital, Inc. | 3839 | 86646 |
| Gitlab, Inc., Cl. A<sup>(a)</sup> <br>| 8353 | 219684 |
| Guidewire Software, Inc.<sup>(a)</sup> <br>| 602 | 87483 |
| HubSpot, Inc.<sup>(a)</sup> <br>| 834 | 220601 |
| InterDigital, Inc. | 481 | 176301 |
| Intuit, Inc. | 596 | 243782 |
| JFrog Ltd.<sup>(a)</sup> <br>| 1782 | 71547 |
| Kyndryl Holdings, Inc.<sup>(a)</sup> <br>| 2900 | 35757 |
| Manhattan Associates, Inc.<sup>(a)</sup> <br>| 240 | 32503 |
| MongoDB, Inc.<sup>(a)</sup> <br>| 363 | 119235 |
| Nutanix, Inc., Cl. A<sup>(a)</sup> <br>| 1395 | 53401 |
| Okta, Inc.<sup>(a)</sup> <br>| 762 | 55245 |
| PTC, Inc.<sup>(a)</sup> <br>| 276 | 43219 |
| RingCentral, Inc., Cl. A<sup>(a),(b)</sup> <br>| 160 | 5832 |
| Roper Technologies, Inc. | 2145 | 750171 |
| Synopsys, Inc.<sup>(a)</sup> <br>| 541 | 223974 |
| Trimble, Inc.<sup>(a)</sup> <br>| 4189 | 280118 |
| Twilio, Inc., Cl. A<sup>(a)</sup> <br>| 885 | 107050 |
| Tyler Technologies, Inc.<sup>(a)</sup> <br>| 1702 | 603682 |
| UiPath, Inc., Cl. A<sup>(a),(b)</sup> <br>| 2530 | 27147 |
| Unity Software, Inc.<sup>(a)</sup> <br>| 1180 | 21511 |
| VeriSign, Inc. | 597 | 136080 |
| Zoom Communications, Inc.<sup>(a)</sup> <br>| 670 | 49540 |
| Zscaler, Inc.<sup>(a)</sup> <br>| 662 | 97307 |
|  |  | **7239058** |

---

**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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Technology Hardware & Equipment — 5.3%** | **Technology Hardware & Equipment — 5.3%** | **Technology Hardware & Equipment — 5.3%** |
| Amphenol Corp., Cl. A | 9843 | 1437669 |
| Arrow Electronics, Inc.<sup>(a)</sup> <br>| 613 | 93274 |
| CDW Corp. | 1931 | 236818 |
| Ciena Corp.<sup>(a)</sup> <br>| 680 | 237116 |
| Cognex Corp. | 1509 | 82090 |
| Coherent Corp.<sup>(a)</sup> <br>| 765 | 198081 |
| Corning, Inc. | 3325 | 500013 |
| F5, Inc.<sup>(a)</sup> <br>| 310 | 84122 |
| Flex Ltd.<sup>(a)</sup> <br>| 1963 | 123708 |
| Hewlett Packard Enterprise Co. | 5755 | 123560 |
| Jabil, Inc. | 965 | 255715 |
| Keysight Technologies, Inc.<sup>(a)</sup> <br>| 5465 | 1679558 |
| Lumentum Holdings, Inc.<sup>(a),(b)</sup> <br>| 285 | 199759 |
| Mirion Technologies, Inc.<sup>(a)</sup> <br>| 18349 | 396522 |
| NetApp, Inc. | 2699 | 267282 |
| Pure Storage, Inc., Cl. A<sup>(a)</sup> <br>| 1685 | 108211 |
| Sandisk Corp.<sup>(a)</sup> <br>| 555 | 352625 |
| Seagate Technology Holdings PLC | 125 | 50980 |
| Super Micro Computer, Inc.<sup>(a),(b)</sup> <br>| 1281 | 41492 |
| TD Synnex Corp. | 533 | 83580 |
| TE Connectivity PLC | 232 | 53395 |
| Vontier Corp. | 1838 | 75211 |
| Western Digital Corp. | 1545 | 432136 |
| Zebra Technologies Corp., Cl. A<sup>(a)</sup> <br>| 1064 | 238293 |
|  |  | **7351210** |
| **Telecommunication Services — .1%** | **Telecommunication Services — .1%** | **Telecommunication Services — .1%** |
| AST SpaceMobile, Inc.<sup>(a),(b)</sup> <br>| 975 | 77211 |
| Millicom International Cellular SA | 81 | 5904 |
|  |  | **83115** |
| **Transportation — 2.6%** | **Transportation — 2.6%** | **Transportation — 2.6%** |
| Alaska Air Group, Inc.<sup>(a)</sup> <br>| 310 | 15996 |
| American Airlines Group, Inc.<sup>(a)</sup> <br>| 5335 | 69728 |
| Avis Budget Group, Inc.<sup>(a),(b)</sup> <br>| 95 | 9254 |
| Delta Air Lines, Inc. | 7298 | 479479 |
| Expeditors International of Washington, Inc. | 2361 | 342416 |
| J.B. Hunt Transport Services, Inc. | 658 | 153584 |
| Knight-Swift Transportation Holdings, Inc. | 10312 | 648831 |
| Landstar System, Inc. | 1237 | 201569 |
| Lyft, Inc., Cl. A<sup>(a)</sup> <br>| 1665 | 23044 |
| Old Dominion Freight Line, Inc. | 3114 | 632298 |
| Ryder System, Inc. | 667 | 147781 |
| Saia, Inc.<sup>(a)</sup> <br>| 56 | 22702 |
| Schneider National, Inc., Cl. B | 16250 | 461175 |
| Southwest Airlines Co. | 275 | 13546 |
| United Airlines Holdings, Inc.<sup>(a)</sup> <br>| 1885 | 200375 |
| XPO, Inc.<sup>(a)</sup> <br>| 575 | 121020 |
|  |  | **3542798** |
| **Utilities — 3.9%** | **Utilities — 3.9%** | **Utilities — 3.9%** |
| Ameren Corp. | 1580 | 178982 |
| American Water Works Co., Inc. | 2311 | 314365 |

---

**13**

------

SCHEDULES OF INVESTMENTS (Unaudited) (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 ($) |
| **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** | **Equity Securities - Common Stocks — 96.5% (continued)** |
| **Utilities — 3.9% (continued)** | **Utilities — 3.9% (continued)** | **Utilities — 3.9% (continued)** |
| Brookfield Renewable Corp. | 805 | 34398 |
| CenterPoint Energy, Inc. | 4264 | 185484 |
| CMS Energy Corp. | 2545 | 198688 |
| Dominion Energy, Inc. | 6738 | 425437 |
| DTE Energy Co. | 2354 | 348957 |
| Edison International | 1630 | 121826 |
| Entergy Corp. | 4991 | 534586 |
| Eversource Energy | 1775 | 135273 |
| Exelon Corp. | 10624 | 525569 |
| FirstEnergy Corp. | 2254 | 115315 |
| MDU Resources Group, Inc.<sup>(b)</sup> <br>| 3320 | 68658 |
| NiSource, Inc. | 5825 | 275523 |
| NRG Energy, Inc. | 1373 | 245712 |
| OGE Energy Corp. | 3270 | 160688 |
| Pinnacle West Capital Corp.<sup>(b)</sup> <br>| 1420 | 142426 |
| Public Service Enterprise Group, Inc. | 2110 | 181608 |
| The AES Corp. | 2905 | 50198 |
| UGI Corp. | 385 | 14403 |
| Vistra Corp. | 1895 | 329522 |
| WEC Energy Group, Inc.<sup>(b)</sup> <br>| 1665 | 194738 |
| Xcel Energy, Inc. | 6500 | 541840 |
|  |  | **5324196** |
| **Total Equity Securities - Common Stocks** <br>(cost $54,998,523)<br>|  | **133085649** |
| **Exchange-Traded Funds — .5%** | **Exchange-Traded Funds — .5%** | **Exchange-Traded Funds — .5%** |
| **Registered Investment Companies — .5%** | **Registered Investment Companies — .5%** | **Registered Investment Companies — .5%** |
| iShares Russell Mid-Cap Growth ETF | 1090 | 149058 |
| State Street SPDR S&P MidCap 400 ETF Trust | 893 | 582968 |
| **Total Exchange-Traded Funds** <br>(cost $700,422)<br>|  | **732026** |

---

&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 | **50731** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>| Shares |
| **Investment Companies — 3.7%** | **Investment Companies — 3.7%** | **Investment Companies — 3.7%** |
| **Registered Investment Companies — 3.7%** | **Registered Investment Companies — 3.7%** | **Registered Investment Companies — 3.7%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional <br> Shares<sup>(e)</sup> <br>(cost $5,098,686)<br>| 3.72 | 5098686 |

---

**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)** | **BNY Mellon Mid Cap Multi-Strategy Fund (continued)** |
| Description | 1-Day<br> Yield (%)<br>| Shares | Value ($) |
| **Investment of Cash Collateral for Securities Loaned — .1%** |  |  |  |
| **Registered Investment Companies — .1%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional <br> Shares<sup>(e)</sup> <br>(cost $106,085)<br>| 3.72 | 106085 | **106085** |
| **Total Investments** (cost $60,903,716) | **Total Investments** (cost $60,903,716) | **100.8%** | **139073177** |
| **Liabilities, Less Cash and Receivables** | **Liabilities, Less Cash and Receivables** | **(.8%)** | **(1144226)** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **137928951** |

---

&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 February 28, 2026, the value of the fund's securities on loan was $3,769,586 and the value of the collateral was $3,914,445, consisting of cash collateral of $106,085 and U.S. Government & Agency securities valued at $3,808,360. 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 February 28, 2026. These securities were valued at $50,731 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. 

&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 ($) <br>8/31/2025<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>2/28/2026<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - 3.7%** | **Registered Investment Companies - 3.7%** | **Registered Investment Companies - 3.7%** | **Registered Investment Companies - 3.7%** | **Registered Investment Companies - 3.7%** | **Registered Investment Companies - 3.7%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - 3.7%<br>| 23376103 | 174060824 | (192338241) | 5098686 | 182152 |
| **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 Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .1%<br>| 1057481 | 8241729 | (9193125) | 106085 | 9159 <br><sup>††</sup><br>|
| **Total - 3.8%** | **24433584** | **182302553** | **(201531366)** | **5204771** | **191311** |

---

&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.

**15**

------

SCHEDULES OF INVESTMENTS

February 28, 2026 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Small Cap Multi-Strategy Fund** | **BNY Mellon Small Cap Multi-Strategy Fund** | **BNY Mellon Small Cap Multi-Strategy Fund** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 98.5%** | **Equity Securities - Common Stocks — 98.5%** | **Equity Securities - Common Stocks — 98.5%** |
| **Automobiles & Components — 1.9%** | **Automobiles & Components — 1.9%** | **Automobiles & Components — 1.9%** |
| LCI Industries | 4515 | 601398 |
| Patrick Industries, Inc. | 12227 | 1513580 |
| Visteon Corp. | 5128 | 490596 |
|  |  | **2605574** |
| **Banks — 7.1%** | **Banks — 7.1%** | **Banks — 7.1%** |
| Bank OZK | 9982 | 464762 |
| BankUnited, Inc. | 10361 | 483859 |
| Business First Bancshares, Inc. | 23741 | 648129 |
| Columbia Banking System, Inc. | 32218 | 916602 |
| First Busey Corp. | 26863 | 681246 |
| First Horizon Corp. | 38474 | 915297 |
| First Merchants Corp. | 24849 | 971099 |
| Metropolitan Bank Holding Corp. | 10494 | 883070 |
| Origin Bancorp, Inc. | 16320 | 678912 |
| Simmons First National Corp., Cl. A | 48630 | 968223 |
| SouthState Bank Corp. | 13626 | 1344477 |
| Texas Capital Bancshares, Inc.<sup>(a)</sup> <br>| 6173 | 588287 |
| United Community Banks, Inc. | 13949 | 448739 |
|  |  | **9992702** |
| **Capital Goods — 19.2%** | **Capital Goods — 19.2%** | **Capital Goods — 19.2%** |
| AeroVironment, Inc.<sup>(a)</sup> <br>| 7966 | 2009423 |
| BWX Technologies, Inc. | 4535 | 934119 |
| Construction Partners, Inc., Cl. A<sup>(a)</sup> <br>| 20927 | 2811961 |
| Curtiss-Wright Corp. | 2414 | 1690597 |
| Enpro, Inc. | 2500 | 646625 |
| Esab Corp. | 12384 | 1562489 |
| Flowserve Corp. | 28389 | 2512994 |
| Fluor Corp.<sup>(a)</sup> <br>| 16677 | 872374 |
| Fortune Brands Innovations, Inc. | 31665 | 1720676 |
| Gates Industrial Corp. PLC<sup>(a)</sup> <br>| 35135 | 968672 |
| Hayward Holdings, Inc.<sup>(a)</sup> <br>| 41219 | 659504 |
| Herc Holdings, Inc. | 14154 | 1978588 |
| Janus International Group, Inc.<sup>(a)</sup> <br>| 81740 | 568910 |
| Karman Holdings, Inc.<sup>(a)</sup> <br>| 22150 | 1951636 |
| Matrix Service Co.<sup>(a)</sup> <br>| 26310 | 289147 |
| MYR Group, Inc.<sup>(a)</sup> <br>| 2353 | 635216 |
| Regal Rexnord Corp. | 9456 | 2089587 |
| Tennant Co. | 10455 | 638069 |
| The Timken Company | 9691 | 1050311 |
| WESCO International, Inc. | 4365 | 1263668 |
|  |  | **26854566** |
| **Commercial & Professional Services — 2.5%** | **Commercial & Professional Services — 2.5%** | **Commercial & Professional Services — 2.5%** |
| BlackSky Technology, Inc.<sup>(a)</sup> <br>| 49816 | 939032 |
| HNI Corp. | 44812 | 2014748 |
| Korn Ferry | 8026 | 502989 |
|  |  | **3456769** |

---

**16**

------

---

| | | |
|:---|:---|:---|
| **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 ($) |
| **Equity Securities - Common Stocks — 98.5% (continued)** | **Equity Securities - Common Stocks — 98.5% (continued)** | **Equity Securities - Common Stocks — 98.5% (continued)** |
| **Consumer Discretionary Distribution & Retail — 3.4%** | **Consumer Discretionary Distribution & Retail — 3.4%** | **Consumer Discretionary Distribution & Retail — 3.4%** |
| Bath & Body Works, Inc. | 15710 | 357560 |
| Monro, Inc. | 42630 | 917824 |
| Pool Corp. | 2861 | 649962 |
| RH<sup>(a)</sup> <br>| 5042 | 835510 |
| Stitch Fix, Inc., Cl. A<sup>(a)</sup> <br>| 87978 | 292967 |
| Valvoline, Inc.<sup>(a)</sup> <br>| 15777 | 596370 |
| Warby Parker, Inc., Cl. A<sup>(a)</sup> <br>| 43232 | 1081232 |
|  |  | **4731425** |
| **Consumer Durables & Apparel — 4.3%** | **Consumer Durables & Apparel — 4.3%** | **Consumer Durables & Apparel — 4.3%** |
| Brunswick Corp. | 19699 | 1568434 |
| Carter's, Inc. | 12924 | 433600 |
| Cavco Industries, Inc.<sup>(a)</sup> <br>| 924 | 533388 |
| Figs, Inc., Cl. A<sup>(a)</sup> <br>| 31585 | 487988 |
| Levi Strauss & Co., Cl. A | 18950 | 419932 |
| Meritage Homes Corp. | 6751 | 509161 |
| Steven Madden Ltd. | 11754 | 424320 |
| YETI Holdings, Inc.<sup>(a)</sup> <br>| 37221 | 1626930 |
|  |  | **6003753** |
| **Consumer Services — 5.1%** | **Consumer Services — 5.1%** | **Consumer Services — 5.1%** |
| Black Rock Coffee Bar, Inc., Cl. A<sup>(a)</sup> <br>| 36009 | 480360 |
| First Watch Restaurant Group, Inc.<sup>(a)</sup> <br>| 136061 | 1695320 |
| Genius Sports Ltd.<sup>(a)</sup> <br>| 108021 | 670810 |
| Lindblad Expeditions Holdings, Inc.<sup>(a)</sup> <br>| 110485 | 2177659 |
| Wingstop, Inc. | 8309 | 2156269 |
|  |  | **7180418** |
| **Consumer Staples Distribution & Retail — 1.4%** | **Consumer Staples Distribution & Retail — 1.4%** | **Consumer Staples Distribution & Retail — 1.4%** |
| Casey's General Stores, Inc. | 2876 | **1971757** |
| **Energy — 4.3%** | **Energy — 4.3%** | **Energy — 4.3%** |
| BKV Corp.<sup>(a)</sup> <br>| 29265 | 916872 |
| Cactus, Inc., Cl. A | 10916 | 589464 |
| California Resources Corp. | 18223 | 1072241 |
| Crescent Energy Co., Cl. A | 87521 | 1020495 |
| Expro Group Holdings NV<sup>(a)</sup> <br>| 51406 | 918111 |
| Liberty Energy, Inc. | 32290 | 907026 |
| PBF Energy, Inc., Cl. A | 16706 | 594734 |
|  |  | **6018943** |
| **Equity Real Estate Investment Trusts — 4.4%** | **Equity Real Estate Investment Trusts — 4.4%** | **Equity Real Estate Investment Trusts — 4.4%** |
| Americold Realty Trust, Inc.<sup>(b)</sup> <br>| 42827 | 573453 |
| COPT Defense Properties<sup>(b)</sup> <br>| 22396 | 711745 |
| Diversified Healthcare Trust<sup>(b)</sup> <br>| 61468 | 415524 |
| EPR Properties<sup>(b)</sup> <br>| 10490 | 623211 |
| Healthpeak Properties, Inc.<sup>(b)</sup> <br>| 38751 | 685118 |
| NETSTREIT Corp.<sup>(b)</sup> <br>| 27668 | 574664 |
| Rayonier, Inc.<sup>(b)</sup> <br>| 30538 | 656262 |
| Ryman Hospitality Properties, Inc.<sup>(b)</sup> <br>| 7141 | 705174 |
| STAG Industrial, Inc.<sup>(b)</sup> <br>| 13765 | 539863 |
| Urban Edge Properties<sup>(b)</sup> <br>| 30800 | 654500 |
|  |  | **6139514** |
| **Financial Services — 3.0%** | **Financial Services — 3.0%** | **Financial Services — 3.0%** |
| Marex Group PLC | 19535 | 848991 |

---

**17**

------

SCHEDULES OF INVESTMENTS (Unaudited) (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 ($) |
| **Equity Securities - Common Stocks — 98.5% (continued)** | **Equity Securities - Common Stocks — 98.5% (continued)** | **Equity Securities - Common Stocks — 98.5% (continued)** |
| **Financial Services — 3.0% (continued)** | **Financial Services — 3.0% (continued)** | **Financial Services — 3.0% (continued)** |
| Moelis & Co., Cl. A | 8549 | 507469 |
| PennyMac Financial Services, Inc. | 5893 | 541743 |
| PROG Holdings, Inc. | 20454 | 720185 |
| Voya Financial, Inc. | 8888 | 594429 |
| Walker & Dunlop, Inc. | 9588 | 441144 |
| WisdomTree, Inc. | 31151 | 532994 |
|  |  | **4186955** |
| **Food, Beverage & Tobacco — 2.1%** | **Food, Beverage & Tobacco — 2.1%** | **Food, Beverage & Tobacco — 2.1%** |
| Freshpet, Inc.<sup>(a)</sup> <br>| 22145 | 1870145 |
| J & J Snack Foods Corp. | 6514 | 567109 |
| Nomad Foods Ltd. | 40758 | 447115 |
|  |  | **2884369** |
| **Health Care Equipment & Services — 5.7%** | **Health Care Equipment & Services — 5.7%** | **Health Care Equipment & Services — 5.7%** |
| Alignment Healthcare, Inc.<sup>(a)</sup> <br>| 42072 | 808624 |
| Ceribell, Inc.<sup>(a)</sup> <br>| 58757 | 1096993 |
| Encompass Health Corp. | 4156 | 448349 |
| Envista Holdings Corp.<sup>(a)</sup> <br>| 22042 | 643847 |
| GeneDx Holdings Corp.<sup>(a)</sup> <br>| 7463 | 594876 |
| Guardant Health, Inc.<sup>(a)</sup> <br>| 18741 | 1759780 |
| Privia Health Group, Inc.<sup>(a)</sup> <br>| 99681 | 2367424 |
| Strata Critical Medical, Inc.<sup>(a)</sup> <br>| 63595 | 272186 |
|  |  | **7992079** |
| **Insurance — 2.7%** | **Insurance — 2.7%** | **Insurance — 2.7%** |
| The Baldwin Insurance Group, Inc.<sup>(a)</sup> <br>| 159880 | **3714012** |
| **Materials — 3.4%** | **Materials — 3.4%** | **Materials — 3.4%** |
| Alamos Gold, Inc., Cl. A | 20514 | 1111654 |
| Alcoa Corp. | 11218 | 696413 |
| Eagle Materials, Inc. | 6103 | 1365851 |
| Element Solutions, Inc. | 24044 | 843704 |
| Methanex Corp. | 14064 | 710654 |
|  |  | **4728276** |
| **Media & Entertainment — 1.6%** | **Media & Entertainment — 1.6%** | **Media & Entertainment — 1.6%** |
| IMAX Corp.<sup>(a)</sup> <br>| 14731 | 630929 |
| John Wiley & Sons, Inc., Cl. A | 15976 | 495575 |
| Lionsgate Studios Corp.<sup>(a)</sup> <br>| 38736 | 348624 |
| Magnite, Inc.<sup>(a)</sup> <br>| 45248 | 616278 |
| Starz Entertainment Corp.<sup>(a)</sup> <br>| 19645 | 216095 |
|  |  | **2307501** |
| **Pharmaceuticals, Biotechnology & Life Sciences — 9.5%** | **Pharmaceuticals, Biotechnology & Life Sciences — 9.5%** | **Pharmaceuticals, Biotechnology & Life Sciences — 9.5%** |
| ADMA Biologics, Inc.<sup>(a)</sup> <br>| 19318 | 300781 |
| Ascendis Pharma A/S, ADR<sup>(a)</sup> <br>| 3415 | 797403 |
| Bio-Techne Corp. | 24545 | 1448155 |
| Bruker Corp. | 32417 | 1300246 |
| Cytokinetics, Inc.<sup>(a)</sup> <br>| 5714 | 355525 |
| Denali Therapeutics, Inc.<sup>(a)</sup> <br>| 13091 | 277267 |
| Dianthus Therapeutics, Inc.<sup>(a)</sup> <br>| 3350 | 184887 |
| KalVista Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 31779 | 517362 |
| Madrigal Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 1306 | 564192 |
| Mirum Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 21363 | 1971591 |
| Monopar Therapeutics, Inc.<sup>(a)</sup> <br>| 2157 | 118214 |

---

**18**

------

---

| | | |
|:---|:---|:---|
| **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 ($) |
| **Equity Securities - Common Stocks — 98.5% (continued)** | **Equity Securities - Common Stocks — 98.5% (continued)** | **Equity Securities - Common Stocks — 98.5% (continued)** |
| **Pharmaceuticals, Biotechnology & Life Sciences — 9.5% (continued)** | **Pharmaceuticals, Biotechnology & Life Sciences — 9.5% (continued)** | **Pharmaceuticals, Biotechnology & Life Sciences — 9.5% (continued)** |
| Newamsterdam Pharma Co. NV<sup>(a)</sup> <br>| 17225 | 610799 |
| Repligen Corp.<sup>(a)</sup> <br>| 16784 | 2160604 |
| Rezolute, Inc.<sup>(a)</sup> <br>| 18488 | 59346 |
| Rhythm Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 5623 | 521421 |
| Soleno Therapeutics, Inc.<sup>(a)</sup> <br>| 18309 | 715333 |
| Syndax Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 48009 | 1042275 |
| Xenon Pharmaceuticals, Inc.<sup>(a)</sup> <br>| 8882 | 383969 |
|  |  | **13329370** |
| **Real Estate Management & Development — .3%** | **Real Estate Management & Development — .3%** | **Real Estate Management & Development — .3%** |
| Newmark Group, Inc., Cl. A | 28432 | **412833** |
| **Semiconductors & Semiconductor Equipment — 5.7%** | **Semiconductors & Semiconductor Equipment — 5.7%** | **Semiconductors & Semiconductor Equipment — 5.7%** |
| Cohu, Inc.<sup>(a)</sup> <br>| 26173 | 790425 |
| Kulicke & Soffa Industries, Inc. | 14883 | 1037643 |
| MKS, Inc. | 7599 | 1857651 |
| Onto Innovation, Inc.<sup>(a)</sup> <br>| 5615 | 1212222 |
| SiTime Corp.<sup>(a)</sup> <br>| 3675 | 1462209 |
| Synaptics, Inc.<sup>(a)</sup> <br>| 6554 | 533889 |
| Ultra Clean Holdings, Inc.<sup>(a)</sup> <br>| 11208 | 680101 |
| Veeco Instruments, Inc.<sup>(a)</sup> <br>| 11980 | 366109 |
|  |  | **7940249** |
| **Software & Services — 2.2%** | **Software & Services — 2.2%** | **Software & Services — 2.2%** |
| Blackbaud, Inc.<sup>(a)</sup> <br>| 6339 | 307695 |
| Cellebrite DI Ltd.<sup>(a)</sup> <br>| 45467 | 606530 |
| Dolby Laboratories, Inc., Cl. A | 5210 | 346830 |
| Gitlab, Inc., Cl. A<sup>(a)</sup> <br>| 33695 | 886178 |
| JFrog Ltd.<sup>(a)</sup> <br>| 24925 | 1000739 |
|  |  | **3147972** |
| **Technology Hardware & Equipment — 4.7%** | **Technology Hardware & Equipment — 4.7%** | **Technology Hardware & Equipment — 4.7%** |
| Belden, Inc. | 13868 | 1987284 |
| Lumentum Holdings, Inc.<sup>(a)</sup> <br>| 2957 | 2072591 |
| Mirion Technologies, Inc.<sup>(a)</sup> <br>| 57737 | 1247697 |
| Viavi Solutions, Inc.<sup>(a)</sup> <br>| 43232 | 1284423 |
|  |  | **6591995** |
| **Transportation — 2.2%** | **Transportation — 2.2%** | **Transportation — 2.2%** |
| Schneider National, Inc., Cl. B | 62325 | 1768784 |
| SkyWest, Inc.<sup>(a)</sup> <br>| 3158 | 328685 |
| Sun Country Airlines Holdings, Inc.<sup>(a)</sup> <br>| 52327 | 1029795 |
|  |  | **3127264** |
| **Utilities — 1.8%** | **Utilities — 1.8%** | **Utilities — 1.8%** |
| Hallador Energy Co.<sup>(a)</sup> <br>| 17769 | 323041 |
| MDU Resources Group, Inc. | 39441 | 815640 |
| ONE Gas, Inc. | 8098 | 708089 |
| Southwest Gas Holdings, Inc. | 7854 | 692487 |
|  |  | **2539257** |
| **Total Equity Securities - Common Stocks** <br>(cost $108,488,165)<br>|  | **137857553** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**19**

------

SCHEDULES OF INVESTMENTS (Unaudited) (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)** | **BNY Mellon Small Cap Multi-Strategy Fund (continued)** |
| Description | 1-Day <br>Yield (%)<br>| Shares | Value ($) |
| **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, Institutional <br> Shares<sup>(c)</sup> <br>(cost $3,805,819)<br>| 3.72 | 3805819 | **3805819** |
| **Total Investments** (cost $112,293,984) | **Total Investments** (cost $112,293,984) | **101.2%** | **141663372** |
| **Liabilities, Less Cash and Receivables** | **Liabilities, Less Cash and Receivables** | **(1.2%)** | **(1729773)** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **139933599** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

ADR—American Depositary Receipt<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Investment in real estate investment trust within the United States.

<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 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 ($) <br>8/31/2025<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>2/28/2026<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>| 5395401 | 53399912 | (54989494) | 3805819 | 72803 |
| **Investment of Cash Collateral for Securities Loaned - .0%** | **Investment of Cash Collateral for Securities Loaned - .0%** | **Investment of Cash Collateral for Securities Loaned - .0%** | **Investment of Cash Collateral for Securities Loaned - .0%** | **Investment of Cash Collateral for Securities Loaned - .0%** | **Investment of Cash Collateral for Securities Loaned - .0%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .0%<br>| 558912 | 11001054 | (11559966) | - | 18816 <br><sup>††</sup><br>|
| **Total - 2.7%** | **5954313** | **64400966** | **(66549460)** | **3805819** | **91619** |

---

&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.

**20**

------

SCHEDULES OF INVESTMENTS

February 28, 2026 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon International Fund** | **BNY Mellon International Fund** | **BNY Mellon International Fund** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 96.0%** | **Equity Securities - Common Stocks — 96.0%** | **Equity Securities - Common Stocks — 96.0%** |
| **Australia — .7%** | **Australia — .7%** | **Australia — .7%** |
| Suncorp Group Ltd. | 172390 | **1794828** |
| **Belgium — .8%** | **Belgium — .8%** | **Belgium — .8%** |
| UCB SA | 7049 | **2101432** |
| **Bermuda — 1.5%** | **Bermuda — 1.5%** | **Bermuda — 1.5%** |
| Hiscox Ltd.<sup>(a)</sup> <br>| 178187 | **3717270** |
| **Denmark — .8%** | **Denmark — .8%** | **Denmark — .8%** |
| Novo Nordisk AS, Cl. B | 56520 | **2126337** |
| **France — 10.8%** | **France — 10.8%** | **France — 10.8%** |
| Airbus SE | 11489 | 2501132 |
| BNP Paribas SA | 31209 | 3521711 |
| Cie de Saint-Gobain SA | 23682 | 2413224 |
| Cie Generale des Etablissements Michelin SCA | 49548 | 2013979 |
| Orange SA | 105268 | 2262557 |
| Renault SA | 51105 | 1938984 |
| Rexel SA | 96888 | 4220983 |
| Schneider Electric SE | 13595 | 4444868 |
| SCOR SE | 95256 | 3477934 |
|  |  | **26795372** |
| **Germany — 9.1%** | **Germany — 9.1%** | **Germany — 9.1%** |
| Daimler Truck Holding AG | 53127 | 2701202 |
| Deutsche Lufthansa AG | 270742 | 2907331 |
| Deutsche Telekom AG | 90002 | 3625347 |
| E.ON SE | 252670 | 5875560 |
| Fresenius SE & Co. KGaA | 54233 | 3261759 |
| SAP SE | 7097 | 1433639 |
| Siemens Energy AG | 14433 | 2838644 |
|  |  | **22643482** |
| **Hong Kong — 2.6%** | **Hong Kong — 2.6%** | **Hong Kong — 2.6%** |
| AIA Group Ltd. | 587000 | **6512718** |
| **Ireland — 1.2%** | **Ireland — 1.2%** | **Ireland — 1.2%** |
| Smurfit Westrock PLC | 66539 | **3098143** |
| **Italy — 3.2%** | **Italy — 3.2%** | **Italy — 3.2%** |
| Enel SpA | 261724 | 3152526 |
| Prysmian SpA | 39035 | 4727685 |
|  |  | **7880211** |
| **Japan — 22.8%** | **Japan — 22.8%** | **Japan — 22.8%** |
| Advantest Corp. | 10200 | 1753722 |
| Denso Corp. | 244900 | 3528479 |
| East Japan Railway Co. | 198200 | 4898998 |
| Ebara Corp. | 108000 | 3832715 |
| Hitachi Ltd. | 105800 | 3540555 |
| ITOCHU Corp. | 412100 | 5990248 |
| Komatsu Ltd. | 103300 | 4982928 |
| Kurita Water Industries Ltd. | 51100 | 2851050 |
| Mizuho Financial Group, Inc. | 51800 | 2371990 |
| Pan Pacific International Holdings Corp. | 781600 | 5205161 |

---

**21**

------

SCHEDULES OF INVESTMENTS (Unaudited) (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon International Fund (continued)** | **BNY Mellon International Fund (continued)** | **BNY Mellon International Fund (continued)** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 96.0% (continued)** | **Equity Securities - Common Stocks — 96.0% (continued)** | **Equity Securities - Common Stocks — 96.0% (continued)** |
| **Japan — 22.8% (continued)** | **Japan — 22.8% (continued)** | **Japan — 22.8% (continued)** |
| Renesas Electronics Corp. | 164000 | 3117959 |
| Santen Pharmaceutical Co. Ltd. | 210700 | 2359101 |
| Sony Group Corp. | 113800 | 2654714 |
| Sumitomo Mitsui Financial Group, Inc. | 137100 | 5264872 |
| Suzuki Motor Corp. | 177700 | 2697390 |
| Tokyo Electron Ltd. | 5800 | 1634540 |
|  |  | **56684422** |
| **Netherlands — 6.8%** | **Netherlands — 6.8%** | **Netherlands — 6.8%** |
| ASML Holding NV | 6652 | 9694528 |
| ING Groep NV | 167188 | 4865640 |
| Koninklijke Ahold Delhaize NV | 46109 | 2275730 |
|  |  | **16835898** |
| **Spain — 5.8%** | **Spain — 5.8%** | **Spain — 5.8%** |
| Banco Santander SA | 435210 | 5548694 |
| Repsol SA | 217494 | 4886682 |
| Unicaja Banco SA<sup>(b)</sup> <br>| 1246311 | 3976131 |
|  |  | **14411507** |
| **Sweden — .7%** | **Sweden — .7%** | **Sweden — .7%** |
| Spotify Technology SA<sup>(c)</sup> <br>| 3483 | **1793536** |
| **Switzerland — 4.5%** | **Switzerland — 4.5%** | **Switzerland — 4.5%** |
| Alcon AG | 27266 | 2377050 |
| Glencore PLC | 464850 | 3345270 |
| Nestle SA | 50961 | 5566372 |
|  |  | **11288692** |
| **United Kingdom — 24.7%** | **United Kingdom — 24.7%** | **United Kingdom — 24.7%** |
| AstraZeneca PLC | 23262 | 4872267 |
| Babcock International Group PLC | 236800 | 4314550 |
| Balfour Beatty PLC | 396172 | 4054980 |
| Barclays PLC | 822916 | 5022119 |
| GSK PLC | 155502 | 4612466 |
| HSBC Holdings PLC | 264301 | 4963797 |
| Informa PLC | 245148 | 2769192 |
| Lloyds Banking Group PLC | 1968253 | 2717503 |
| Marks & Spencer Group PLC | 804341 | 4297942 |
| Melrose Industries PLC | 152545 | 1163156 |
| Rio Tinto PLC | 17751 | 1754689 |
| Rolls-Royce Holdings PLC | 234907 | 4221493 |
| Shell PLC | 147610 | 6114009 |
| Smith & Nephew PLC | 106030 | 1959755 |
| SSE PLC | 82362 | 2984659 |
| United Utilities Group PLC | 143172 | 2687734 |
| Vodafone Group PLC | 1919916 | 2962544 |
|  |  | **61472855** |
| **Total Equity Securities - Common Stocks** <br>(cost $202,798,524)<br>|  | **239156703** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**22**

------

---

| | | | |
|:---|:---|:---|:---|
| **BNY Mellon International Fund (continued)** | **BNY Mellon International Fund (continued)** | **BNY Mellon International Fund (continued)** | **BNY Mellon International Fund (continued)** |
| Description | Preferred <br>Dividend <br>Rate (%)<br>| Shares | Value ($) |
| **Equity Securities - Preferred Stocks — 1.6%** |  |  |  |
| **Germany — 1.6%** |  |  |  |
| Volkswagen AG <br>(cost $6,769,920)<br>| 6.36 | 32862 | **3929570** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>|  |  |
| **Investment Companies — 1.0%** |  |  |  |
| **Registered Investment Companies — 1.0%** | **Registered Investment Companies — 1.0%** | **Registered Investment Companies — 1.0%** | **Registered Investment Companies — 1.0%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(d)</sup> <br>(cost $2,354,046)<br>| 3.72 | 2354046 | **2354046** |
| **Investment of Cash Collateral for Securities Loaned — .0%** |  |  |  |
| **Registered Investment Companies — .0%** |  |  |  |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(d)</sup> <br>(cost $35,992)<br>| 3.72 | 35992 | **35992** |
| **Total Investments** (cost $211,958,482) |  | **98.6%** | **245476311** |
| **Cash and Receivables (Net)** |  | **1.4%** | **3546922** |
| **Net Assets** |  | **100.0%** | **249023233** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security, or portion thereof, on loan. At February 28, 2026, the value of the fund's securities on loan was $34,380 and the value of the collateral was $35,992, 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 February 28, 2026, these securities amounted to $3,976,131 or 1.6% of net assets. 

<sup>(c)</sup> Non-income producing security.

<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 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 ($) <br>8/31/2025<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>2/28/2026<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - 1.0%** | **Registered Investment Companies - 1.0%** | **Registered Investment Companies - 1.0%** | **Registered Investment Companies - 1.0%** | **Registered Investment Companies - 1.0%** | **Registered Investment Companies - 1.0%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - 1.0%<br>| 387336 | 19755962 | (17789252) | 2354046 | 11103 |
| **Investment of Cash Collateral for Securities Loaned - .0%** | **Investment of Cash Collateral for Securities Loaned - .0%** | **Investment of Cash Collateral for Securities Loaned - .0%** | **Investment of Cash Collateral for Securities Loaned - .0%** | **Investment of Cash Collateral for Securities Loaned - .0%** | **Investment of Cash Collateral for Securities Loaned - .0%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .0%<br>| 1742249 | 41925402 | (43631659) | 35992 | 2554 <br><sup>††</sup><br>|
| **Total - 1.0%** | **2129585** | **61681364** | **(61420911)** | **2390038** | **13657** |

---

&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.

**23**

------

SCHEDULES OF INVESTMENTS

February 28, 2026 (Unaudited)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Emerging Markets Fund** | **BNY Mellon Emerging Markets Fund** | **BNY Mellon Emerging Markets Fund** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 95.3%** | **Equity Securities - Common Stocks — 95.3%** | **Equity Securities - Common Stocks — 95.3%** |
| **Australia — 1.3%** | **Australia — 1.3%** | **Australia — 1.3%** |
| BHP Group Ltd. | 64623 | **2644028** |
| **Brazil — 4.1%** | **Brazil — 4.1%** | **Brazil — 4.1%** |
| B3 SA - Brasil Bolsa Balcao | 343735 | 1201547 |
| Banco Bradesco SA, ADR | 873457 | 3572439 |
| Lojas Renner SA | 669664 | 2048246 |
| TOTVS SA | 188110 | 1389221 |
|  |  | **8211453** |
| **Chile — 2.2%** | **Chile — 2.2%** | **Chile — 2.2%** |
| Antofagasta PLC | 75296 | **4330853** |
| **China — 17.6%** | **China — 17.6%** | **China — 17.6%** |
| Anker Innovations Technology Co. Ltd., Cl. A | 185500 | 2618381 |
| Atour Lifestyle Holdings Ltd., ADR | 54480 | 2139430 |
| Centre Testing International Group Co. Ltd., Cl. A | 478900 | 1140022 |
| China Merchants Bank Co. Ltd., Cl. H | 321000 | 2003942 |
| Contemporary Amperex Technology Co. Ltd., Cl. A | 55800 | 2783692 |
| Foshan Haitian Flavouring & Food Co. Ltd., Cl. H | 424300 | 1832049 |
| Midea Group Co. Ltd., Cl. A | 245800 | 2819510 |
| NetEase, Inc. | 48100 | 1101761 |
| Shenzhen Inovance Technology Co. Ltd., Cl. A | 171200 | 1820953 |
| Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Cl. A | 37000 | 1003405 |
| Spring Airlines Co. Ltd., Cl. A | 199500 | 1600493 |
| Tencent Holdings Ltd. | 175200 | 11600276 |
| Wuxi Biologics Cayman, Inc.<sup>(a),(b)</sup> <br>| 46000 | 236485 |
| Yutong Bus Co. Ltd., Cl. A | 603500 | 2613579 |
|  |  | **35313978** |
| **France — 1.9%** | **France — 1.9%** | **France — 1.9%** |
| TotalEnergies SE | 48873 | **3885308** |
| **Hong Kong — 5.7%** | **Hong Kong — 5.7%** | **Hong Kong — 5.7%** |
| AIA Group Ltd. | 567200 | 6293039 |
| Alibaba Group Holding Ltd. | 198700 | 3629398 |
| Pacific Basin Shipping Ltd. | 3412000 | 1509001 |
|  |  | **11431438** |
| **Hungary — .6%** | **Hungary — .6%** | **Hungary — .6%** |
| OTP Bank Nyrt | 9310 | **1147581** |
| **India — 11.7%** | **India — 11.7%** | **India — 11.7%** |
| Eternal Ltd.<sup>(b)</sup> <br>| 446462 | 1208707 |
| HDFC Bank Ltd. | 415571 | 4055159 |
| Infosys Ltd. | 67200 | 960324 |
| KEI Industries Ltd. | 42491 | 2372831 |
| Mahindra & Mahindra Ltd. | 87473 | 3266575 |
| Marico Ltd. | 482474 | 4182445 |
| Reliance Industries Ltd. | 99485 | 1524268 |
| Sona Blw Precision Forgings Ltd.<sup>(a)</sup> <br>| 665681 | 3910982 |
| Titan Co. Ltd. | 43010 | 2045872 |
|  |  | **23527163** |

---

**24**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 95.3% (continued)** | **Equity Securities - Common Stocks — 95.3% (continued)** | **Equity Securities - Common Stocks — 95.3% (continued)** |
| **Indonesia — 1.3%** | **Indonesia — 1.3%** | **Indonesia — 1.3%** |
| Bank Central Asia Tbk PT | 6317600 | **2703775** |
| **Ireland — 1.4%** | **Ireland — 1.4%** | **Ireland — 1.4%** |
| PDD Holdings, Inc., ADR<sup>(b)</sup> <br>| 27682 | **2871454** |
| **Malaysia — .6%** | **Malaysia — .6%** | **Malaysia — .6%** |
| Press Metal Aluminium Holdings Bhd | 675900 | **1238542** |
| **Mexico — 3.9%** | **Mexico — 3.9%** | **Mexico — 3.9%** |
| BBB Foods, Inc., Cl. A<sup>(b),(c)</sup> <br>| 43978 | 1602998 |
| Fomento Economico Mexicano SAB de CV | 195042 | 2192892 |
| Grupo Financiero Banorte SAB de CV, Cl. O | 106399 | 1209855 |
| Qualitas Controladora SAB de CV | 151968 | 1482442 |
| Vista Energy SAB de CV, ADR<sup>(b)</sup> <br>| 23150 | 1336681 |
|  |  | **7824868** |
| **Netherlands — 2.0%** | **Netherlands — 2.0%** | **Netherlands — 2.0%** |
| ASML Holding NV | 2698 | 3932026 |
| X5 Retail Group NV, GDR<sup>(b),(d)</sup> <br>| 198889 | 0 |
|  |  | **3932026** |
| **Peru — 1.2%** | **Peru — 1.2%** | **Peru — 1.2%** |
| Credicorp Ltd. | 6956 | **2409419** |
| **Philippines — .9%** | **Philippines — .9%** | **Philippines — .9%** |
| Ayala Corp. | 164530 | **1711922** |
| **Russia — .0%** | **Russia — .0%** | **Russia — .0%** |
| LUKOIL PJSC, ADR<sup>(b),(d)</sup> <br>| 85809 | 0 |
| Sberbank of Russia PJSC, ADR<sup>(b),(d)</sup> <br>| 884047 | 0 |
|  |  | **0** |
| **Singapore — 1.3%** | **Singapore — 1.3%** | **Singapore — 1.3%** |
| Sea Ltd., ADR<sup>(b)</sup> <br>| 24154 | **2619501** |
| **South Africa — 1.2%** | **South Africa — 1.2%** | **South Africa — 1.2%** |
| Shoprite Holdings Ltd. | 143717 | **2387379** |
| **South Korea — 13.1%** | **South Korea — 13.1%** | **South Korea — 13.1%** |
| HD Hyundai Marine Solution Co. Ltd. | 11846 | 1517704 |
| Hugel, Inc.<sup>(b)</sup> <br>| 17811 | 3343045 |
| KT Corp. | 52303 | 2319730 |
| LG Energy Solution Ltd.<sup>(b)</sup> <br>| 5236 | 1554238 |
| Samsung Electronics Co. Ltd. | 89700 | 13500209 |
| SK hynix, Inc. | 5382 | 3969623 |
|  |  | **26204549** |
| **Sweden — 1.5%** | **Sweden — 1.5%** | **Sweden — 1.5%** |
| Epiroc AB, Cl. A | 99070 | **2983864** |
| **Taiwan — 18.6%** | **Taiwan — 18.6%** | **Taiwan — 18.6%** |
| Advantech Co. Ltd. | 314000 | 3385377 |
| Airtac International Group | 32527 | 1255809 |
| Chroma ATE, Inc. | 35000 | 1547531 |
| MediaTek, Inc. | 60000 | 3739066 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 389000 | 24864791 |
| Uni-President Enterprises Corp. | 690000 | 1602800 |
| Voltronic Power Technology Corp. | 31000 | 919740 |
|  |  | **37315114** |
| **Turkey — 1.4%** | **Turkey — 1.4%** | **Turkey — 1.4%** |
| BIM Birlesik Magazalar AS<sup>(c)</sup> <br>| 185590 | **2819714** |

---

**25**

------

SCHEDULES OF INVESTMENTS (Unaudited) (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** | **BNY Mellon Emerging Markets Fund (continued)** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 95.3% (continued)** | **Equity Securities - Common Stocks — 95.3% (continued)** | **Equity Securities - Common Stocks — 95.3% (continued)** |
| **United States — 1.0%** | **United States — 1.0%** | **United States — 1.0%** |
| SLB Ltd. | 40211 | **2064433** |
| **Uruguay — .8%** | **Uruguay — .8%** | **Uruguay — .8%** |
| MercadoLibre, Inc.<sup>(b)</sup> <br>| 935 | **1643337** |
| **Total Equity Securities - Common Stocks** <br>(cost $143,711,409)<br>|  | **191221699** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | Preferred <br>Dividend <br>Rate (%)<br>|  |  |
| **Equity Securities - Preferred Stocks — 2.3%** |  |  |  |
| **Brazil — 2.3%** |  |  |  |
| Itau Unibanco Holding SA <br>(cost $3,548,967)<br>| 3.07 | 511184 | **4631720** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>|  |  |
| **Investment Companies — 2.2%** |  |  |  |
| **Registered Investment Companies — 2.2%** | **Registered Investment Companies — 2.2%** | **Registered Investment Companies — 2.2%** | **Registered Investment Companies — 2.2%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(e)</sup> <br>(cost $4,474,309)<br>| 3.72 | 4474309 | **4474309** |
| **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 $851,031)<br>| 3.72 | 851031 | **851031** |
| **Total Investments** (cost $152,585,716) |  | **100.2%** | **201178759** |
| **Liabilities, Less Cash and Receivables** |  | **(.2%)** | **(450205)** |
| **Net Assets** |  | **100.0%** | **200728554** |

---

&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 February 28, 2026, these securities amounted to $4,147,467 or 2.1% of net assets. 

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> Security, or portion thereof, on loan. At February 28, 2026, the value of the fund's securities on loan was $2,366,731 and the value of the collateral was $2,501,462, consisting of cash collateral of $851,031 and U.S. Government & Agency securities valued at $1,650,431. In addition, the value of collateral may include pending sales that are also on loan. 

<sup>(d)</sup> The fund held Level 3 securities at February 28, 2026. These securities were valued at $0 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. 

&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 ($) <br>8/31/2025<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>2/28/2026<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - 2.2%** | **Registered Investment Companies - 2.2%** | **Registered Investment Companies - 2.2%** | **Registered Investment Companies - 2.2%** | **Registered Investment Companies - 2.2%** | **Registered Investment Companies - 2.2%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - 2.2%<br>| 2722929 | 44608617 | (42857237) | 4474309 | 61310 |

---

**26**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **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 ($)<br> 8/31/2025<br>| Purchases ($)<sup>†</sup> | Sales ($) | Value ($)<br> 2/28/2026<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>| 712515 | 11145344 | (11006828) | 851031 | 2435 <br><sup>††</sup><br>|
| **Total - 2.6%** | **3435444** | **55753961** | **(53864065)** | **5325340** | **63745** |

---

&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.

**27**

------

SCHEDULES OF INVESTMENTS

February 28, 2026 (Unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 ($)<br>| Value ($) |
| **Corporate Bonds and Notes — 4.9%** | **Corporate Bonds and Notes — 4.9%** | **Corporate Bonds and Notes — 4.9%** | **Corporate Bonds and Notes — 4.9%** | **Corporate Bonds and Notes — 4.9%** |
| **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 | 315000 | 306076 |
| The Boeing Company, Sr. Unscd. Notes | 6.53 | 5/1/2034 | 250000 | 280382 |
|  |  |  |  | **586458** |
| **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 | 182523 | **180585** |
| **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 | 485000 | **448653** |
| **Banks — 1.6%** | **Banks — 1.6%** | **Banks — 1.6%** | **Banks — 1.6%** | **Banks — 1.6%** |
| Bank of America Corp., Jr. Sub. Notes, Ser. TT<sup>(a)</sup> <br>| 6.13 | 4/27/2027 | 570000 | 578012 |
| Barclays PLC, Sr. Unscd. Notes | 7.44 | 11/2/2033 | 480000 | 551073 |
| Citigroup, Inc., Sub. Notes<sup>(b)</sup> <br>| 6.17 | 5/25/2034 | 615000 | 656725 |
| Citizens Financial Group, Inc., Sr. Unscd. Notes | 5.72 | 7/23/2032 | 485000 | 511079 |
| Deutsche Bank AG, Sr. Notes | 5.30 | 5/9/2031 | 570000 | 588753 |
| Fifth Third Financial Corp., Sr. Unscd. Notes | 5.98 | 1/30/2030 | 225000 | 235880 |
| HSBC Holdings PLC, Sr. Unscd. Notes<sup>(b)</sup> <br>| 6.25 | 3/9/2034 | 525000 | 574122 |
| JPMorgan Chase & Co., Jr. Sub. Notes, Ser. OO<sup>(a)</sup> <br>| 6.50 | 4/1/2030 | 190000 | 199137 |
| Morgan Stanley, Sr. Unscd. Notes | 5.59 | 1/18/2036 | 510000 | 536331 |
| NatWest Group PLC, Sr. Unscd. Notes | 5.08 | 1/27/2030 | 535000 | 549147 |
| Nordea Bank Abp, Jr. Sub. Notes<sup>(a),(c)</sup> <br>| 6.63 | 3/26/2026 | 255000 | 255596 |
| Santander Holdings USA, Inc., Sr. Unscd. Bonds<sup>(b)</sup> <br>| 7.66 | 11/9/2031 | 450000 | 508110 |
| Societe Generale SA, Sr. Notes<sup>(c)</sup> <br>| 6.69 | 1/10/2034 | 525000 | 576731 |
| The Goldman Sachs Group, Inc., Sub. Notes | 6.75 | 10/1/2037 | 525000 | 589969 |
| Wells Fargo & Co., Sr. Unscd. Notes | 5.24 | 1/24/2031 | 560000 | 581085 |
|  |  |  |  | **7491750** |
| **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 | 410000 | **385883** |
| **Diversified Financials — .4%** | **Diversified Financials — .4%** | **Diversified Financials — .4%** | **Diversified Financials — .4%** | **Diversified Financials — .4%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Gtd. Notes | 6.95 | 3/10/2055 | 220000 | 232586 |
| Aircastle Ltd., Gtd. Notes<sup>(c)</sup> <br>| 2.85 | 1/26/2028 | 300000 | 293164 |
| Apollo Debt Solutions BDC, Sr. Unscd. Notes | 6.70 | 7/29/2031 | 325000 | 335717 |
| Ares Capital Corp., Sr. Unscd. Notes | 2.88 | 6/15/2028 | 205000 | 195601 |
| Blackstone Secured Lending Fund, Sr. Unscd. Notes | 2.85 | 9/30/2028 | 235000 | 220222 |
| Blue Owl Finance LLC, Gtd. Notes<sup>(b)</sup> <br>| 4.13 | 10/7/2051 | 260000 | 172916 |
| CDP Financial, Inc., Gtd. Notes<sup>(c)</sup> <br>| 4.88 | 6/5/2029 | 150000 | 156172 |
| Ontario Teachers' Finance Trust, Gtd. Notes<sup>(c)</sup> <br>| 2.00 | 4/16/2031 | 200000 | 184137 |
| Ontario Teachers' Finance Trust, Gtd. Notes<sup>(c)</sup> <br>| 4.63 | 4/10/2029 | 150000 | 154768 |
|  |  |  |  | **1945283** |
| **Electronic Components — .1%** | **Electronic Components — .1%** | **Electronic Components — .1%** | **Electronic Components — .1%** | **Electronic Components — .1%** |
| Jabil, Inc., Sr. Unscd. Notes | 3.60 | 1/15/2030 | 360000 | **350652** |
| **Energy — .3%** | **Energy — .3%** | **Energy — .3%** | **Energy — .3%** | **Energy — .3%** |
| Diamondback Energy, Inc., Gtd. Notes | 3.13 | 3/24/2031 | 315000 | 298945 |
| Energy Transfer LP, Sr. Unscd. Notes | 5.55 | 5/15/2034 | 265000 | 275804 |
| Enterprise Products Operating LLC, Gtd. Notes | 5.35 | 1/31/2033 | 200000 | 211492 |
| Kinder Morgan, Inc., Gtd. Notes<sup>(b)</sup> <br>| 5.20 | 6/1/2033 | 360000 | 375775 |

---

**28**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 ($)<br>| Value ($) |
| **Corporate Bonds and Notes — 4.9% (continued)** | **Corporate Bonds and Notes — 4.9% (continued)** | **Corporate Bonds and Notes — 4.9% (continued)** | **Corporate Bonds and Notes — 4.9% (continued)** | **Corporate Bonds and Notes — 4.9% (continued)** |
| **Energy — .3% (continued)** | **Energy — .3% (continued)** | **Energy — .3% (continued)** | **Energy — .3% (continued)** | **Energy — .3% (continued)** |
| Targa Resources Corp., Gtd. Notes | 5.50 | 2/15/2035 | 250000 | 258810 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp., Gtd. <br> Notes<br>| 5.00 | 1/15/2028 | 185000 | 185108 |
|  |  |  |  | **1605934** |
| **Food Products — .1%** | **Food Products — .1%** | **Food Products — .1%** | **Food Products — .1%** | **Food Products — .1%** |
| The Kroger Company, Sr. Unscd. Notes | 1.70 | 1/15/2031 | 430000 | **383076** |
| **Health Care — .5%** | **Health Care — .5%** | **Health Care — .5%** | **Health Care — .5%** | **Health Care — .5%** |
| AbbVie, Inc., Sr. Unscd. Notes | 3.20 | 11/21/2029 | 395000 | 385895 |
| Amgen, Inc., Sr. Unscd. Notes | 5.60 | 3/2/2043 | 390000 | 398806 |
| Amgen, Inc., Sr. Unscd. Notes | 5.65 | 6/15/2042 | 80000 | 82821 |
| CVS Health Corp., Sr. Unscd. Notes | 4.78 | 3/25/2038 | 480000 | 458844 |
| HCA, Inc., Gtd. Notes | 5.75 | 3/1/2035 | 340000 | 360038 |
| Pfizer Investment Enterprises Pte Ltd., Gtd. Notes | 4.65 | 5/19/2030 | 430000 | 440947 |
| UnitedHealth Group, Inc., Sr. Unscd. Notes | 4.95 | 1/15/2032 | 350000 | 361470 |
|  |  |  |  | **2488821** |
| **Information Technology — .2%** | **Information Technology — .2%** | **Information Technology — .2%** | **Information Technology — .2%** | **Information Technology — .2%** |
| Oracle Corp., Sr. Unscd. Notes | 3.90 | 5/15/2035 | 470000 | 412693 |
| Synopsys, Inc., Sr. Unscd. Notes | 5.00 | 4/1/2032 | 405000 | 417718 |
|  |  |  |  | **830411** |
| **Insurance — .1%** | **Insurance — .1%** | **Insurance — .1%** | **Insurance — .1%** | **Insurance — .1%** |
| Prudential Financial, Inc., Sr. Unscd. Notes | 4.35 | 2/25/2050 | 480000 | **392877** |
| **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 | 234928 |
| Meta Platforms, Inc., Sr. Unscd. Notes | 4.45 | 8/15/2052 | 505000 | 414817 |
|  |  |  |  | **649745** |
| **Media — .1%** | **Media — .1%** | **Media — .1%** | **Media — .1%** | **Media — .1%** |
| Comcast Corp., Gtd. Notes<sup>(c)</sup> <br>| 5.17 | 1/15/2037 | 333000 | **335422** |
| **Metals & Mining — .1%** | **Metals & Mining — .1%** | **Metals & Mining — .1%** | **Metals & Mining — .1%** | **Metals & Mining — .1%** |
| Nucor Corp., Sr. Unscd. Notes | 3.13 | 4/1/2032 | 360000 | **338867** |
| **Retailing — .1%** | **Retailing — .1%** | **Retailing — .1%** | **Retailing — .1%** | **Retailing — .1%** |
| The Home Depot, Inc., Sr. Unscd. Notes | 1.38 | 3/15/2031 | 370000 | **325960** |
| **Semiconductors & Semiconductor Equipment — .3%** | **Semiconductors & Semiconductor Equipment — .3%** | **Semiconductors & Semiconductor Equipment — .3%** | **Semiconductors & Semiconductor Equipment — .3%** | **Semiconductors & Semiconductor Equipment — .3%** |
| Broadcom, Inc., Gtd. Notes | 2.45 | 2/15/2031 | 265000 | 245014 |
| Broadcom, Inc., Sr. Unscd. Notes<sup>(c)</sup> <br>| 3.19 | 11/15/2036 | 395000 | 340906 |
| Foundry JV Holdco LLC, Sr. Scd. Notes<sup>(c)</sup> <br>| 5.88 | 1/25/2034 | 350000 | 365773 |
| Intel Corp., Sr. Unscd. Notes | 5.60 | 2/21/2054 | 370000 | 349667 |
|  |  |  |  | **1301360** |
| **Technology Hardware & Equipment — .1%** | **Technology Hardware & Equipment — .1%** | **Technology Hardware & Equipment — .1%** | **Technology Hardware & Equipment — .1%** | **Technology Hardware & Equipment — .1%** |
| Dell International LLC/EMC Corp., Gtd. Notes | 3.38 | 12/15/2041 | 415000 | **321153** |
| **Telecommunication Services — .4%** | **Telecommunication Services — .4%** | **Telecommunication Services — .4%** | **Telecommunication Services — .4%** | **Telecommunication Services — .4%** |
| AT&T, Inc., Sr. Unscd. Notes | 4.55 | 3/9/2049 | 745000 | 626621 |
| Motorola Solutions, Inc., Sr. Unscd. Notes | 5.40 | 4/15/2034 | 315000 | 329390 |
| T-Mobile USA, Inc., Gtd. Notes | 3.00 | 2/15/2041 | 705000 | 536874 |
| Verizon Communications, Inc., Sr. Unscd. Notes | 2.99 | 10/30/2056 | 680000 | 414869 |
|  |  |  |  | **1907754** |
| **Transportation — .0%** | **Transportation — .0%** | **Transportation — .0%** | **Transportation — .0%** | **Transportation — .0%** |
| J.B. Hunt Transport Services, Inc., Gtd. Notes | 3.88 | 3/1/2026 | 185000 | **185000** |

---

**29**

------

SCHEDULES OF INVESTMENTS (Unaudited) (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 ($)<br>| Value ($) |
| **Corporate Bonds and Notes — 4.9% (continued)** | **Corporate Bonds and Notes — 4.9% (continued)** | **Corporate Bonds and Notes — 4.9% (continued)** | **Corporate Bonds and Notes — 4.9% (continued)** | **Corporate Bonds and Notes — 4.9% (continued)** |
| **Utilities — .1%** | **Utilities — .1%** | **Utilities — .1%** | **Utilities — .1%** | **Utilities — .1%** |
| NextEra Energy Capital Holdings, Inc., Gtd. Notes | 6.70 | 9/1/2054 | 285000 | **296104** |
| **Total Corporate Bonds and Notes** <br>(cost $22,812,732) | **Total Corporate Bonds and Notes** <br>(cost $22,812,732) | **Total Corporate Bonds and Notes** <br>(cost $22,812,732) |  | **22751748** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Shares |  |
| **Equity Securities - Common Stocks — 43.2%** | **Equity Securities - Common Stocks — 43.2%** | **Equity Securities - Common Stocks — 43.2%** |
| **Advertising — .0%** | **Advertising — .0%** | **Advertising — .0%** |
| Omnicom Group, Inc. | 1615 | **137743** |
| **Aerospace & Defense — 1.1%** | **Aerospace & Defense — 1.1%** | **Aerospace & Defense — 1.1%** |
| General Electric Co. | 3973 | 1359799 |
| Howmet Aerospace, Inc. | 2805 | 736397 |
| L3Harris Technologies, Inc. | 334 | 121756 |
| Lockheed Martin Corp. | 929 | 611356 |
| Northrop Grumman Corp. | 452 | 327420 |
| RTX Corp. | 3989 | 808251 |
| The Boeing Company<sup>(d)</sup> <br>| 2475 | 563137 |
| TransDigm Group, Inc. | 269 | 350451 |
|  |  | **4878567** |
| **Agriculture — .4%** | **Agriculture — .4%** | **Agriculture — .4%** |
| Altria Group, Inc. | 4051 | 279681 |
| Archer-Daniels-Midland Co. | 1875 | 129450 |
| Philip Morris International, Inc. | 6614 | 1235694 |
|  |  | **1644825** |
| **Airlines — .1%** | **Airlines — .1%** | **Airlines — .1%** |
| Delta Air Lines, Inc. | 4300 | 282510 |
| Southwest Airlines Co. | 1565 | 77092 |
|  |  | **359602** |
| **Automobiles & Components — 1.0%** | **Automobiles & Components — 1.0%** | **Automobiles & Components — 1.0%** |
| Aptiv PLC<sup>(d)</sup> <br>| 1010 | 74275 |
| Ford Motor Co. | 21445 | 302160 |
| General Motors Co. | 3225 | 253840 |
| PACCAR, Inc. | 3442 | 434002 |
| Tesla, Inc.<sup>(d)</sup> <br>| 9311 | 3747771 |
|  |  | **4812048** |
| **Banks — 2.1%** | **Banks — 2.1%** | **Banks — 2.1%** |
| Bank of America Corp. | 30103 | 1500032 |
| Citigroup, Inc. | 5676 | 625438 |
| Citizens Financial Group, Inc. | 3815 | 229625 |
| Fifth Third Bancorp | 3280 | 162262 |
| Huntington Bancshares, Inc. | 9280 | 155904 |
| JPMorgan Chase & Co. | 9333 | 2802700 |
| KeyCorp | 8355 | 173283 |
| M&T Bank Corp. | 821 | 178141 |
| Morgan Stanley | 5511 | 917637 |
| Regions Financial Corp. | 10080 | 280526 |
| State Street Corp. | 1985 | 255311 |
| The Goldman Sachs Group, Inc. | 1394 | 1198240 |
| The PNC Financial Services Group, Inc. | 1291 | 274144 |
| Wells Fargo & Co. | 10754 | 875913 |
|  |  | **9629156** |

---

**30**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** |
| **Beverage Products — .5%** | **Beverage Products — .5%** | **Beverage Products — .5%** |
| Brown-Forman Corp., Cl. B | 1035 | 29870 |
| Constellation Brands, Inc., Cl. A | 437 | 68985 |
| Keurig Dr. Pepper, Inc. | 1095 | 33157 |
| Molson Coors Beverage Co., Cl. B | 1840 | 90142 |
| Monster Beverage Corp.<sup>(d)</sup> <br>| 6048 | 515894 |
| PepsiCo, Inc. | 4035 | 684901 |
| The Coca-Cola Company | 10293 | 839497 |
|  |  | **2262446** |
| **Building Materials — .3%** | **Building Materials — .3%** | **Building Materials — .3%** |
| Carrier Global Corp. | 4240 | 273056 |
| Johnson Controls International PLC | 2587 | 373304 |
| Trane Technologies PLC | 1257 | 581136 |
| Vulcan Materials Co. | 548 | 169880 |
|  |  | **1397376** |
| **Chemicals — .5%** | **Chemicals — .5%** | **Chemicals — .5%** |
| Air Products and Chemicals, Inc. | 302 | 83252 |
| Albemarle Corp. | 950 | 169736 |
| CF Industries Holdings, Inc. | 915 | 91079 |
| Dow, Inc. | 9205 | 282870 |
| DuPont de Nemours, Inc. | 850 | 42534 |
| Ecolab, Inc. | 617 | 190252 |
| Linde PLC | 1835 | 932327 |
| LyondellBasell Industries NV, Cl. A | 3280 | 188666 |
| The Sherwin-Williams Company | 814 | 295148 |
|  |  | **2275864** |
| **Commercial & Professional Services — .8%** | **Commercial & Professional Services — .8%** | **Commercial & Professional Services — .8%** |
| Automatic Data Processing, Inc. | 1844 | 395280 |
| Block, Inc.<sup>(d)</sup> <br>| 1346 | 85740 |
| Cintas Corp. | 1820 | 366056 |
| Equifax, Inc. | 579 | 120988 |
| Moody's Corp. | 675 | 322373 |
| PayPal Holdings, Inc. | 3805 | 175829 |
| Quanta Services, Inc. | 1586 | 893045 |
| S&P Global, Inc. | 1736 | 767104 |
| United Rentals, Inc. | 542 | 455280 |
|  |  | **3581695** |
| **Consumer Discretionary — .6%** | **Consumer Discretionary — .6%** | **Consumer Discretionary — .6%** |
| Carnival Corp. | 7455 | 235205 |
| Copart, Inc.<sup>(d)</sup> <br>| 4406 | 167825 |
| D.R. Horton, Inc. | 1885 | 302335 |
| Fastenal Co. | 6130 | 282225 |
| Hasbro, Inc. | 1515 | 150879 |
| Hilton Worldwide Holdings, Inc. | 1111 | 346388 |
| Las Vegas Sands Corp. | 1670 | 94722 |
| Lennar Corp., Cl. A | 1475 | 168681 |
| Live Nation Entertainment, Inc.<sup>(d)</sup> <br>| 1050 | 170247 |
| Marriott International, Inc., Cl. A | 1160 | 396407 |
| MGM Resorts International<sup>(d)</sup> <br>| 490 | 18061 |
| Pool Corp. | 384 | 87237 |
| Royal Caribbean Cruises Ltd. | 930 | 289193 |
|  |  | **2709405** |

---

**31**

------

SCHEDULES OF INVESTMENTS (Unaudited) (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** |
| **Consumer Durables & Apparel — .1%** | **Consumer Durables & Apparel — .1%** | **Consumer Durables & Apparel — .1%** |
| Deckers Outdoor Corp.<sup>(d)</sup> <br>| 57 | 6684 |
| NIKE, Inc., Cl. B | 2480 | 154206 |
| Tapestry, Inc. | 2810 | 436871 |
|  |  | **597761** |
| **Consumer Staples — .4%** | **Consumer Staples — .4%** | **Consumer Staples — .4%** |
| Church & Dwight Co., Inc. | 1145 | 120065 |
| Colgate-Palmolive Co. | 1890 | 187375 |
| Kenvue, Inc. | 7970 | 152386 |
| Kimberly-Clark Corp. | 1762 | 196357 |
| The Clorox Company | 1102 | 140130 |
| The Estee Lauder Companies, Inc., Cl. A | 810 | 88671 |
| The Procter & Gamble Company | 7060 | 1180432 |
|  |  | **2065416** |
| **Diversified Financials — 1.6%** | **Diversified Financials — 1.6%** | **Diversified Financials — 1.6%** |
| American Express Co. | 3058 | 944616 |
| BlackRock, Inc. | 555 | 590093 |
| Capital One Financial Corp. | 2688 | 525880 |
| Cboe Global Markets, Inc. | 152 | 45557 |
| CME Group, Inc. | 1155 | 369023 |
| Coinbase Global, Inc., Cl. A<sup>(d)</sup> <br>| 488 | 85815 |
| Franklin Resources, Inc. | 6905 | 183259 |
| Intercontinental Exchange, Inc. | 2071 | 339913 |
| Invesco Ltd. | 7075 | 185790 |
| Mastercard, Inc., Cl. A | 2909 | 1504564 |
| T. Rowe Price Group, Inc. | 1234 | 116773 |
| The Charles Schwab Corp. | 4670 | 444584 |
| Visa, Inc., Cl. A | 6310 | 2020083 |
|  |  | **7355950** |
| **Electronic Components — .6%** | **Electronic Components — .6%** | **Electronic Components — .6%** |
| AMETEK, Inc. | 1075 | 257161 |
| Amphenol Corp., Cl. A | 4707 | 687504 |
| Eaton Corp. PLC | 1626 | 611246 |
| Emerson Electric Co. | 2626 | 395869 |
| Garmin Ltd. | 319 | 80653 |
| Honeywell International, Inc. | 1169 | 284757 |
| Keysight Technologies, Inc.<sup>(d)</sup> <br>| 945 | 290427 |
| TE Connectivity PLC | 1078 | 248102 |
|  |  | **2855719** |
| **Energy — 1.5%** | **Energy — 1.5%** | **Energy — 1.5%** |
| APA Corp. | 3640 | 110547 |
| Baker Hughes Co. | 3415 | 222863 |
| Chevron Corp. | 5050 | 943138 |
| ConocoPhillips | 7683 | 871713 |
| Coterra Energy, Inc. | 2940 | 89935 |
| Devon Energy Corp. | 3210 | 139731 |
| Diamondback Energy, Inc. | 1550 | 269824 |
| EOG Resources, Inc. | 3688 | 457607 |
| EQT Corp. | 1320 | 81074 |
| Exxon Mobil Corp. | 12565 | 1916162 |
| First Solar, Inc.<sup>(d)</sup> <br>| 437 | 86176 |

---

**32**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** |
| **Energy — 1.5% (continued)** | **Energy — 1.5% (continued)** | **Energy — 1.5% (continued)** |
| Halliburton Co. | 3680 | 132480 |
| Kinder Morgan, Inc. | 5102 | 169744 |
| Marathon Petroleum Corp. | 1585 | 314163 |
| Occidental Petroleum Corp. | 2750 | 145970 |
| ONEOK, Inc. | 1930 | 159746 |
| Phillips 66 | 1441 | 222390 |
| SLB Ltd. | 6165 | 316511 |
| The Williams Companies, Inc. | 3810 | 284683 |
| Valero Energy Corp. | 1086 | 222239 |
|  |  | **7156696** |
| **Environmental Control — .1%** | **Environmental Control — .1%** | **Environmental Control — .1%** |
| Veralto Corp. | 1088 | 106004 |
| Waste Management, Inc. | 1115 | 268536 |
|  |  | **374540** |
| **Food Products — .2%** | **Food Products — .2%** | **Food Products — .2%** |
| Conagra Brands, Inc. | 19770 | 380573 |
| General Mills, Inc. | 2805 | 126870 |
| Lamb Weston Holdings, Inc. | 810 | 39034 |
| Mondelez International, Inc., Cl. A | 900 | 55422 |
| The Hershey Company | 673 | 159017 |
| The Kraft Heinz Company | 3135 | 77152 |
| The Kroger Company | 3210 | 219050 |
|  |  | **1057118** |
| **Forest Products & Paper — .0%** | **Forest Products & Paper — .0%** | **Forest Products & Paper — .0%** |
| International Paper Co. | 2990 | **130215** |
| **Health Care — 4.3%** | **Health Care — 4.3%** | **Health Care — 4.3%** |
| Abbott Laboratories | 4993 | 580936 |
| AbbVie, Inc. | 5997 | 1391784 |
| Agilent Technologies, Inc. | 2609 | 316680 |
| Amgen, Inc. | 2269 | 880735 |
| Baxter International, Inc. | 4255 | 86674 |
| Biogen, Inc.<sup>(d)</sup> <br>| 734 | 140796 |
| Boston Scientific Corp.<sup>(d)</sup> <br>| 6440 | 494914 |
| Bristol-Myers Squibb Co. | 2410 | 150312 |
| Cardinal Health, Inc. | 1737 | 398172 |
| Centene Corp.<sup>(d)</sup> <br>| 2240 | 100531 |
| Corteva, Inc. | 2493 | 199739 |
| CVS Health Corp. | 3820 | 305218 |
| Danaher Corp. | 3264 | 687529 |
| Dexcom, Inc.<sup>(d)</sup> <br>| 795 | 58377 |
| Edwards Lifesciences Corp.<sup>(d)</sup> <br>| 171 | 14786 |
| Elevance Health, Inc. | 574 | 183680 |
| Eli Lilly & Co. | 2732 | 2874037 |
| GE HealthCare Technologies, Inc. | 1615 | 136096 |
| Gilead Sciences, Inc. | 2835 | 422273 |
| HCA Healthcare, Inc. | 1032 | 546650 |
| Humana, Inc. | 185 | 35250 |
| IDEXX Laboratories, Inc.<sup>(d)</sup> <br>| 587 | 385501 |
| Insulet Corp.<sup>(d)</sup> <br>| 586 | 144513 |
| Intuitive Surgical, Inc.<sup>(d)</sup> <br>| 1335 | 672186 |

---

**33**

------

SCHEDULES OF INVESTMENTS (Unaudited) (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** |
| **Health Care — 4.3% (continued)** | **Health Care — 4.3% (continued)** | **Health Care — 4.3% (continued)** |
| Johnson & Johnson | 9360 | 2325305 |
| Labcorp Holdings, Inc. | 573 | 165666 |
| McKesson Corp. | 524 | 517382 |
| Medtronic PLC | 378 | 36915 |
| Merck & Co., Inc. | 6730 | 833309 |
| Moderna, Inc.<sup>(d)</sup> <br>| 2110 | 113033 |
| Molina Healthcare, Inc.<sup>(d)</sup> <br>| 416 | 64085 |
| Pfizer, Inc. | 24686 | 682568 |
| Quest Diagnostics, Inc. | 711 | 150668 |
| Regeneron Pharmaceuticals, Inc. | 328 | 256388 |
| ResMed, Inc. | 547 | 140174 |
| STERIS PLC | 559 | 141064 |
| Stryker Corp. | 1438 | 557167 |
| The Cigna Group | 448 | 129839 |
| Thermo Fisher Scientific, Inc. | 1811 | 943730 |
| UnitedHealth Group, Inc. | 3040 | 891541 |
| Vertex Pharmaceuticals, Inc.<sup>(d)</sup> <br>| 894 | 444166 |
| Viatris, Inc. | 2385 | 35608 |
| Waters Corp.<sup>(d)</sup> <br>| 76 | 24273 |
| Zoetis, Inc. | 1970 | 258267 |
|  |  | **19918517** |
| **Industrial — 1.1%** | **Industrial — 1.1%** | **Industrial — 1.1%** |
| Axon Enterprise, Inc.<sup>(d)</sup> <br>| 116 | 62918 |
| Caterpillar, Inc. | 1778 | 1320752 |
| Deere & Co. | 1194 | 751874 |
| Dover Corp. | 998 | 225049 |
| GE Vernova, Inc. | 1111 | 970570 |
| Huntington Ingalls Industries, Inc. | 137 | 60899 |
| Ingersoll Rand, Inc. | 2380 | 224053 |
| Otis Worldwide Corp. | 411 | 38042 |
| Parker-Hannifin Corp. | 660 | 666059 |
| Snap-on, Inc. | 691 | 266187 |
| Teledyne Technologies, Inc.<sup>(d)</sup> <br>| 187 | 127366 |
| Textron, Inc. | 1495 | 147482 |
| Westinghouse Air Brake Technologies Corp. | 855 | 225677 |
|  |  | **5086928** |
| **Information Technology — 3.3%** | **Information Technology — 3.3%** | **Information Technology — 3.3%** |
| Adobe, Inc.<sup>(d)</sup> <br>| 1134 | 297573 |
| Autodesk, Inc.<sup>(d)</sup> <br>| 800 | 196696 |
| Cadence Design Systems, Inc.<sup>(d)</sup> <br>| 1956 | 589538 |
| Electronic Arts, Inc. | 414 | 83036 |
| Intuit, Inc. | 1192 | 487564 |
| Jack Henry & Associates, Inc. | 240 | 38990 |
| Microsoft Corp. | 25910 | 10175893 |
| MSCI, Inc. | 369 | 211005 |
| Oracle Corp. | 5928 | 861931 |
| Palantir Technologies, Inc., Cl. A<sup>(d)</sup> <br>| 6840 | 938380 |
| Paychex, Inc. | 1685 | 157800 |
| Roper Technologies, Inc. | 178 | 62252 |
| Salesforce, Inc. | 3083 | 600538 |

---

**34**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** |
| **Information Technology — 3.3% (continued)** | **Information Technology — 3.3% (continued)** | **Information Technology — 3.3% (continued)** |
| ServiceNow, Inc.<sup>(d)</sup> <br>| 3165 | 341852 |
| Synopsys, Inc.<sup>(d)</sup> <br>| 551 | 228114 |
| Take-Two Interactive Software, Inc.<sup>(d)</sup> <br>| 443 | 93686 |
| Workday, Inc., Cl. A<sup>(d)</sup> <br>| 193 | 25816 |
|  |  | **15390664** |
| **Insurance — 1.5%** | **Insurance — 1.5%** | **Insurance — 1.5%** |
| Aflac, Inc. | 3275 | 369846 |
| American International Group, Inc. | 4230 | 340473 |
| Aon PLC, Cl. A | 550 | 184508 |
| Berkshire Hathaway, Inc., Cl. B<sup>(d)</sup> <br>| 6394 | 3228650 |
| Chubb Ltd. | 913 | 311205 |
| Cincinnati Financial Corp. | 1075 | 176278 |
| Globe Life, Inc. | 29 | 4212 |
| Marsh & McLennan Cos., Inc. | 1500 | 280110 |
| MetLife, Inc. | 1465 | 105583 |
| Prudential Financial, Inc. | 1765 | 173641 |
| The Allstate Corp. | 1589 | 340872 |
| The Progressive Corp. | 3663 | 782637 |
| The Travelers Companies, Inc. | 1223 | 377467 |
| Willis Towers Watson PLC | 582 | 177609 |
|  |  | **6853091** |
| **Internet Software & Services — 5.8%** | **Internet Software & Services — 5.8%** | **Internet Software & Services — 5.8%** |
| Alphabet, Inc., Cl. A | 18882 | 5886651 |
| Alphabet, Inc., Cl. C | 17286 | 5383379 |
| Amazon.com, Inc.<sup>(d)</sup> <br>| 32528 | 6830880 |
| AppLovin Corp., Cl. A<sup>(d)</sup> <br>| 576 | 250427 |
| Booking Holdings, Inc. | 134 | 568073 |
| DoorDash, Inc., Cl. A<sup>(d)</sup> <br>| 868 | 153176 |
| eBay, Inc. | 2567 | 233238 |
| F5, Inc.<sup>(d)</sup> <br>| 460 | 124826 |
| Meta Platforms, Inc., Cl. A | 7463 | 4837367 |
| Netflix, Inc.<sup>(d)</sup> <br>| 17720 | 1705373 |
| Palo Alto Networks, Inc.<sup>(d)</sup> <br>| 2234 | 332687 |
| Robinhood Markets, Inc., Cl. A<sup>(d)</sup> <br>| 265 | 20100 |
| Uber Technologies, Inc.<sup>(d)</sup> <br>| 5280 | 398218 |
|  |  | **26724395** |
| **Materials — .0%** | **Materials — .0%** | **Materials — .0%** |
| Ball Corp. | 2175 | **146008** |
| **Media — .2%** | **Media — .2%** | **Media — .2%** |
| Charter Communications, Inc., Cl. A<sup>(d)</sup> <br>| 220 | 51619 |
| Comcast Corp., Cl. A | 9680 | 299693 |
| Fox Corp., Cl. A | 1795 | 101130 |
| News Corp., Cl. A | 5740 | 139424 |
| The Walt Disney Company | 2748 | 291398 |
| Warner Bros Discovery, Inc.<sup>(d)</sup> <br>| 8360 | 235501 |
|  |  | **1118765** |
| **Metals & Mining — .2%** | **Metals & Mining — .2%** | **Metals & Mining — .2%** |
| Freeport-McMoRan, Inc. | 6340 | 431627 |
| Newmont Corp. | 4460 | 579800 |
|  |  | **1011427** |

---

**35**

------

SCHEDULES OF INVESTMENTS (Unaudited) (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** |
| **Real Estate — .8%** | **Real Estate — .8%** | **Real Estate — .8%** |
| Alexandria Real Estate Equities, Inc.<sup>(e)</sup> <br>| 3719 | 200975 |
| American Tower Corp.<sup>(e)</sup> <br>| 1303 | 249994 |
| AvalonBay Communities, Inc.<sup>(e)</sup> <br>| 313 | 55473 |
| CBRE Group, Inc., Cl. A<sup>(d)</sup> <br>| 1730 | 255452 |
| Digital Realty Trust, Inc.<sup>(e)</sup> <br>| 1366 | 242055 |
| Equinix, Inc.<sup>(e)</sup> <br>| 321 | 312738 |
| Essex Property Trust, Inc.<sup>(e)</sup> <br>| 460 | 117351 |
| Extra Space Storage, Inc.<sup>(e)</sup> <br>| 752 | 113575 |
| Federal Realty Investment Trust<sup>(e)</sup> <br>| 1140 | 123998 |
| Iron Mountain, Inc.<sup>(e)</sup> <br>| 2770 | 300074 |
| Prologis, Inc.<sup>(e)</sup> <br>| 955 | 136154 |
| Public Storage<sup>(e)</sup> <br>| 1155 | 354654 |
| Regency Centers Corp.<sup>(e)</sup> <br>| 1970 | 155630 |
| SBA Communications Corp.<sup>(e)</sup> <br>| 21 | 4224 |
| Simon Property Group, Inc.<sup>(e)</sup> <br>| 1964 | 400361 |
| VICI Properties, Inc.<sup>(e)</sup> <br>| 1310 | 39575 |
| Welltower, Inc.<sup>(e)</sup> <br>| 2125 | 440130 |
| Weyerhaeuser Co.<sup>(e)</sup> <br>| 1165 | 28577 |
|  |  | **3530990** |
| **Retailing — 2.0%** | **Retailing — 2.0%** | **Retailing — 2.0%** |
| AutoZone, Inc.<sup>(d)</sup> <br>| 111 | 416869 |
| Carvana Co.<sup>(d)</sup> <br>| 250 | 83540 |
| Chipotle Mexican Grill, Inc.<sup>(d)</sup> <br>| 5600 | 208432 |
| Costco Wholesale Corp. | 1552 | 1568746 |
| Darden Restaurants, Inc. | 1026 | 219410 |
| Dollar General Corp. | 1395 | 217955 |
| Lowe's Companies, Inc. | 2480 | 656134 |
| Lululemon Athletica, Inc.<sup>(d)</sup> <br>| 227 | 42034 |
| McDonald's Corp. | 1872 | 638464 |
| O'Reilly Automotive, Inc.<sup>(d)</sup> <br>| 4440 | 416827 |
| Starbucks Corp. | 2563 | 251225 |
| Target Corp. | 773 | 87960 |
| The Home Depot, Inc. | 3263 | 1242289 |
| The TJX Companies, Inc. | 3967 | 641305 |
| Tractor Supply Co. | 4200 | 217728 |
| Ulta Beauty, Inc.<sup>(d)</sup> <br>| 169 | 115730 |
| Walmart, Inc. | 18327 | 2344940 |
| Yum! Brands, Inc. | 693 | 116535 |
|  |  | **9486123** |
| **Semiconductors & Semiconductor Equipment — 6.2%** | **Semiconductors & Semiconductor Equipment — 6.2%** | **Semiconductors & Semiconductor Equipment — 6.2%** |
| Advanced Micro Devices, Inc.<sup>(d)</sup> <br>| 5484 | 1097952 |
| Analog Devices, Inc. | 2120 | 754275 |
| Applied Materials, Inc. | 3365 | 1252790 |
| Broadcom, Inc. | 15982 | 5107048 |
| Intel Corp.<sup>(d)</sup> <br>| 13633 | 621801 |
| KLA Corp. | 604 | 920828 |
| Lam Research Corp. | 4604 | 1076830 |
| Microchip Technology, Inc. | 1186 | 88523 |
| Micron Technology, Inc. | 3617 | 1491542 |
| Monolithic Power Systems, Inc. | 122 | 139414 |

---

**36**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** |
| **Semiconductors & Semiconductor Equipment — 6.2% (continued)** | **Semiconductors & Semiconductor Equipment — 6.2% (continued)** | **Semiconductors & Semiconductor Equipment — 6.2% (continued)** |
| NVIDIA Corp. | 83720 | 14834347 |
| NXP Semiconductors NV | 298 | 67649 |
| ON Semiconductor Corp.<sup>(d)</sup> <br>| 1255 | 83432 |
| QUALCOMM, Inc. | 3665 | 521749 |
| Texas Instruments, Inc. | 2554 | 541729 |
|  |  | **28599909** |
| **Technology Hardware & Equipment — 3.7%** | **Technology Hardware & Equipment — 3.7%** | **Technology Hardware & Equipment — 3.7%** |
| Accenture PLC, Cl. A | 3162 | 659973 |
| Apple, Inc. | 51070 | 13491673 |
| Cognizant Technology Solutions Corp., Cl. A | 965 | 62175 |
| CrowdStrike Holdings, Inc., Cl. A<sup>(d)</sup> <br>| 529 | 196777 |
| Dell Technologies, Inc., Cl. C | 1020 | 151042 |
| Fortinet, Inc.<sup>(d)</sup> <br>| 4585 | 362353 |
| Gartner, Inc.<sup>(d)</sup> <br>| 356 | 55963 |
| Hewlett Packard Enterprise Co. | 4340 | 93180 |
| International Business Machines Corp. | 2935 | 705016 |
| Leidos Holdings, Inc. | 1450 | 253895 |
| NetApp, Inc. | 492 | 48723 |
| Sandisk Corp.<sup>(d)</sup> <br>| 411 | 261133 |
| Seagate Technology Holdings PLC | 726 | 296092 |
| Super Micro Computer, Inc.<sup>(d)</sup> <br>| 927 | 30025 |
| Western Digital Corp. | 1165 | 325850 |
|  |  | **16993870** |
| **Telecommunication Services — .8%** | **Telecommunication Services — .8%** | **Telecommunication Services — .8%** |
| Arista Networks, Inc.<sup>(d)</sup> <br>| 4750 | 634125 |
| AT&T, Inc. | 15725 | 440457 |
| Cisco Systems, Inc. | 7960 | 632502 |
| Corning, Inc. | 3035 | 456403 |
| Motorola Solutions, Inc. | 343 | 165415 |
| T-Mobile US, Inc. | 2481 | 538600 |
| Verizon Communications, Inc. | 12383 | 620884 |
|  |  | **3488386** |
| **Transportation — .4%** | **Transportation — .4%** | **Transportation — .4%** |
| C.H. Robinson Worldwide, Inc. | 859 | 159130 |
| CSX Corp. | 3563 | 152105 |
| Expeditors International of Washington, Inc. | 778 | 112833 |
| FedEx Corp. | 873 | 337851 |
| Norfolk Southern Corp. | 1441 | 453540 |
| Union Pacific Corp. | 3079 | 815873 |
|  |  | **2031332** |
| **Utilities — 1.0%** | **Utilities — 1.0%** | **Utilities — 1.0%** |
| American Electric Power Co., Inc. | 580 | 77616 |
| CenterPoint Energy, Inc. | 5215 | 226852 |
| Consolidated Edison, Inc. | 3385 | 380880 |
| Constellation Energy Corp. | 1678 | 553539 |
| Dominion Energy, Inc. | 5420 | 342219 |
| DTE Energy Co. | 1045 | 154911 |
| Duke Energy Corp. | 570 | 74585 |
| Edison International | 1910 | 142753 |
| Entergy Corp. | 392 | 41987 |

---

**37**

------

SCHEDULES OF INVESTMENTS (Unaudited) (continued)

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Shares | Value ($) |
| **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** | **Equity Securities - Common Stocks — 43.2% (continued)** |
| **Utilities — 1.0% (continued)** | **Utilities — 1.0% (continued)** | **Utilities — 1.0% (continued)** |
| Evergy, Inc. | 5005 | 418718 |
| Exelon Corp. | 6025 | 298057 |
| FirstEnergy Corp. | 4175 | 213593 |
| NextEra Energy, Inc. | 6747 | 632666 |
| NiSource, Inc. | 3490 | 165077 |
| Pinnacle West Capital Corp. | 1855 | 186057 |
| Public Service Enterprise Group, Inc. | 2960 | 254767 |
| The AES Corp. | 6450 | 111456 |
| Vistra Corp. | 9 | 1565 |
| Xcel Energy, Inc. | 2465 | 205482 |
|  |  | **4482780** |
| **Total Equity Securities - Common Stocks** <br>(cost $58,798,435)<br>|  | **200145327** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>|  |
| **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 | 101216 |
| Japan Finance Organization for Municipalities, Sr. Unscd. Notes<sup>(c)</sup> <br>| 1.38 | 2/10/2031 | 200000 | 178280 |
| Province of Manitoba, Canada, Sr. Unscd. Notes | 4.30 | 7/27/2033 | 160000 | 162811 |
| **Total Foreign Governmental** <br>(cost $422,920) | **Total Foreign Governmental** <br>(cost $422,920) | **Total Foreign Governmental** <br>(cost $422,920) |  | **442307** |

---

&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>(f)</sup> <br>(cost $0)<br>| 390 | **488** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>|  |
| **U.S. Government Agencies Collateralized Municipal-Backed Securities — .1%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .1%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .1%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .1%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .1%** |
| Government National Mortgage Association, Ser. 2012-135, Cl. AE <br>(cost $185,695)<br>| 1.83 | 12/16/2052 | 197154 | **169437** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **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.: |
| 2.00%, 12/1/2051-2/1/2052<sup>(g)</sup> <br>| 463330 | 386619 |
| 2.50%, 10/1/2051-12/1/2051<sup>(g)</sup> <br>| 570891 | 503004 |
| 3.00%, 6/1/2052<sup>(g)</sup> <br>| 360498 | 326958 |
| 3.50%, 7/1/2047<sup>(g)</sup> <br>| 202061 | 193941 |
| 5.00%, 11/1/2052-11/1/2055<sup>(g)</sup> <br>| 1307009 | 1326776 |
| 5.50%, 6/1/2054-11/1/2055<sup>(g)</sup> <br>| 1207101 | 1238353 |
| Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: |
| 2.00%, 5/1/2051-4/1/2052<sup>(g)</sup> <br>| 1345884 | 1128179 |
| 2.50%, 6/1/2051-4/1/2052<sup>(g)</sup> <br>| 987577 | 860974 |
| 3.00%, 7/1/2052<sup>(g)</sup> <br>| 578341 | 524302 |
| 3.50%, 3/1/2048-9/1/2052<sup>(g)</sup> <br>| 594920 | 563824 |
| 4.00%, 4/1/2052-9/1/2052<sup>(g)</sup> <br>| 389859 | 380473 |
| 4.50%, 10/1/2052<sup>(g)</sup> <br>| 205042 | 204074 |
| 5.00%, 1/1/2056<sup>(g)</sup> <br>| 705978 | 715245 |

---

**38**

------

---

| | | |
|:---|:---|:---|
| **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** | **BNY Mellon Asset Allocation Fund (continued)** |
| Description | Principal<br> Amount ($)<br>| Value ($) |
| **U.S. Government Agencies Mortgage-Backed — 2.8% (continued)** | **U.S. Government Agencies Mortgage-Backed — 2.8% (continued)** | **U.S. Government Agencies Mortgage-Backed — 2.8% (continued)** |
| 5.50%, 7/1/2055-11/1/2055<sup>(g)</sup> <br>| 742248 | 761635 |
| 6.00%, 11/1/2054<sup>(g)</sup> <br>| 390146 | 401352 |
| Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: |
| 2.00%, 10/20/2050-9/20/2051 | 967357 | 813901 |
| 2.50%, 5/20/2051 | 347806 | 301538 |
| 3.00%, 6/20/2050-12/20/2051 | 761018 | 697287 |
| 3.50%, 1/20/2052-9/20/2053 | 519258 | 496862 |
| 4.00%, 2/20/2051-5/20/2051 | 197938 | 188370 |
| 4.50%, 7/20/2052 | 250836 | 250039 |
| 6.50%, 12/20/2055 | 527088 | 550409 |
| 7.00%, 6/20/2055 | 209978 | 217246 |
| 7.50%, 7/20/2054 | 89516 | 93036 |
| **Total U.S. Government Agencies Mortgage-Backed** <br>(cost $13,100,530) |  | **13124397** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>|  |  |
| **U.S. Treasury Securities — 9.1%** | **U.S. Treasury Securities — 9.1%** | **U.S. Treasury Securities — 9.1%** | **U.S. Treasury Securities — 9.1%** | **U.S. Treasury Securities — 9.1%** |
| U.S. Treasury Bonds | 3.63 | 2/15/2053 | 460000 | 386310 |
| U.S. Treasury Bonds | 3.63 | 5/15/2053 | 1050000 | 881221 |
| U.S. Treasury Bonds | 3.88 | 2/15/2043 | 1215000 | 1126058 |
| U.S. Treasury Bonds<sup>(b)</sup> <br>| 4.00 | 11/15/2052 | 500000 | 449385 |
| U.S. Treasury Bonds | 4.13 | 8/15/2053 | 610000 | 559818 |
| U.S. Treasury Bonds<sup>(b)</sup> <br>| 4.25 | 8/15/2054 | 225000 | 210867 |
| U.S. Treasury Bonds | 4.75 | 2/15/2045 | 1285000 | 1317527 |
| U.S. Treasury Bonds<sup>(b)</sup> <br>| 4.75 | 11/15/2053 | 310000 | 315110 |
| U.S. Treasury Bonds | 4.75 | 8/15/2055 | 525000 | 534762 |
| U.S. Treasury Inflation Indexed Notes<sup>(h)</sup> <br>| 0.50 | 1/15/2028 | 354710 | 352358 |
| U.S. Treasury Notes | 2.38 | 5/15/2027 | 55000 | 54282 |
| U.S. Treasury Notes | 2.88 | 4/30/2029 | 465000 | 457680 |
| U.S. Treasury Notes | 3.25 | 6/30/2027 | 95000 | 94755 |
| U.S. Treasury Notes | 3.25 | 6/30/2029 | 1140000 | 1134166 |
| U.S. Treasury Notes | 3.38 | 9/15/2027 | 390000 | 389680 |
| U.S. Treasury Notes | 3.50 | 1/31/2028 | 345000 | 345687 |
| U.S. Treasury Notes | 3.63 | 8/31/2027 | 225000 | 225607 |
| U.S. Treasury Notes | 3.63 | 8/31/2029 | 1435000 | 1444221 |
| U.S. Treasury Notes | 3.63 | 3/31/2030 | 690000 | 694137 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 3.63 | 8/31/2030 | 400000 | 402109 |
| U.S. Treasury Notes | 3.63 | 9/30/2030 | 145000 | 145765 |
| U.S. Treasury Notes | 3.63 | 12/31/2030 | 250000 | 251191 |
| U.S. Treasury Notes | 3.75 | 5/15/2028 | 1395000 | 1405708 |
| U.S. Treasury Notes | 3.75 | 5/31/2030 | 275000 | 277911 |
| U.S. Treasury Notes | 3.75 | 10/31/2032 | 1575000 | 1579676 |
| U.S. Treasury Notes | 3.75 | 11/30/2032 | 4015000 | 4026214 |
| U.S. Treasury Notes | 3.88 | 12/31/2027 | 555000 | 559618 |
| U.S. Treasury Notes | 3.88 | 4/30/2030 | 495000 | 502657 |
| U.S. Treasury Notes | 3.88 | 6/30/2030 | 455000 | 462127 |
| U.S. Treasury Notes | 3.88 | 8/31/2032 | 4600000 | 4651570 |
| U.S. Treasury Notes | 3.88 | 12/31/2032 | 1125000 | 1136250 |
| U.S. Treasury Notes | 3.88 | 8/15/2034 | 675000 | 676094 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 4.00 | 2/28/2030 | 610000 | 622152 |

---

**39**

------

SCHEDULES OF INVESTMENTS (Unaudited) (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 ($)<br>| Value ($) |
| **U.S. Treasury Securities — 9.1% (continued)** | **U.S. Treasury Securities — 9.1% (continued)** | **U.S. Treasury Securities — 9.1% (continued)** | **U.S. Treasury Securities — 9.1% (continued)** | **U.S. Treasury Securities — 9.1% (continued)** |
| U.S. Treasury Notes | 4.00 | 7/31/2030 | 1085000 | 1107548 |
| U.S. Treasury Notes | 4.00 | 1/31/2033 | 185000 | 188209 |
| U.S. Treasury Notes<sup>(b)</sup> <br>| 4.00 | 11/15/2035 | 1020000 | 1023825 |
| U.S. Treasury Notes | 4.13 | 11/30/2029 | 475000 | 486244 |
| U.S. Treasury Notes | 4.13 | 8/31/2030 | 975000 | 1000137 |
| U.S. Treasury Notes | 4.13 | 7/31/2031 | 1055000 | 1083786 |
| U.S. Treasury Notes | 4.13 | 10/31/2031 | 175000 | 179679 |
| U.S. Treasury Notes | 4.25 | 1/15/2028 | 45000 | 45687 |
| U.S. Treasury Notes | 4.25 | 2/15/2028 | 475000 | 482672 |
| U.S. Treasury Notes | 4.25 | 2/28/2029 | 595000 | 609410 |
| U.S. Treasury Notes | 4.25 | 6/30/2029 | 1230000 | 1262167 |
| U.S. Treasury Notes | 4.25 | 1/31/2030 | 395000 | 406418 |
| U.S. Treasury Notes | 4.25 | 11/15/2034 | 300000 | 308268 |
| U.S. Treasury Notes | 4.25 | 5/15/2035 | 575000 | 589847 |
| U.S. Treasury Notes | 4.25 | 8/15/2035 | 480000 | 492000 |
| U.S. Treasury Notes | 4.38 | 8/31/2028 | 850000 | 870022 |
| U.S. Treasury Notes | 4.38 | 11/30/2028 | 1285000 | 1317978 |
| U.S. Treasury Notes | 4.38 | 12/31/2029 | 115000 | 118791 |
| U.S. Treasury Notes | 4.38 | 5/15/2034 | 875000 | 908599 |
| U.S. Treasury Notes | 4.50 | 5/31/2029 | 380000 | 392654 |
| U.S. Treasury Notes | 4.50 | 11/15/2033 | 85000 | 89057 |
| U.S. Treasury Notes | 4.63 | 5/31/2031 | 630000 | 661980 |
| U.S. Treasury Notes | 4.63 | 2/15/2035 | 90000 | 94962 |
| U.S. Treasury Notes | 4.88 | 10/31/2028 | 910000 | 944161 |
| **Total U.S. Treasury Securities** <br>(cost $42,024,048) | **Total U.S. Treasury Securities** <br>(cost $42,024,048) | **Total U.S. Treasury Securities** <br>(cost $42,024,048) |  | **42336774** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>| Shares |  |
| **Investment Companies — 39.7%** | **Investment Companies — 39.7%** | **Investment Companies — 39.7%** | **Investment Companies — 39.7%** |
| **Registered Investment Companies — 39.7%** | **Registered Investment Companies — 39.7%** | **Registered Investment Companies — 39.7%** | **Registered Investment Companies — 39.7%** |
| BNY Mellon Developed Markets Real Estate Securities Fund, Cl. Y<sup>(i)</sup> <br>|  | 684787 | 6491782 |
| BNY Mellon Emerging Markets Fund, Cl. M<sup>(i)</sup> <br>|  | 1720273 | 24049419 |
| BNY Mellon Floating Rate Income Fund, Cl. Y<sup>(i)</sup> <br>|  | 964795 | 10275067 |
| BNY Mellon High Yield Fund, Cl. I<sup>(i)</sup> <br>|  | 2628611 | 14220787 |
| BNY Mellon International Equity Fund, Cl. Y<sup>(i)</sup> <br>|  | 4338163 | 79735444 |
| BNY Mellon International Fund, Cl. M<sup>(i)</sup> <br>|  | 22157 | 435163 |
| BNY Mellon Mid Cap Multi-Strategy Fund, Cl. M<sup>(i)</sup> <br>|  | 8691980 | 21729949 |
| BNY Mellon Research Growth Fund, Inc., Cl. Y<sup>(i)</sup> <br>|  | 498311 | 9552616 |
| BNY Mellon Small Cap Multi-Strategy Fund, Cl. M<sup>(i)</sup> <br>|  | 918086 | 15662542 |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(i)</sup> <br>| 3.72 | 1931604 | 1931604 |
| **Total Investment Companies** <br>(cost $183,197,473)<br>|  |  | **184084373** |

---

**40**

------

---

| | | | |
|:---|:---|:---|:---|
| **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 | 1-Day<br> Yield (%)<br>| Shares | Value ($) |
| **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%** |
| **Registered Investment Companies — .1%** | **Registered Investment Companies — .1%** | **Registered Investment Companies — .1%** | **Registered Investment Companies — .1%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, <br> Institutional Shares<sup>(i)</sup> <br>(cost $541,700)<br>| 3.72 | 541700 | **541700** |
| **Total Investments** (cost $321,083,533) | **Total Investments** (cost $321,083,533) | **100.0%** | **463596551** |
| **Liabilities, Less Cash and Receivables** | **Liabilities, Less Cash and Receivables** | **(.0%)** | **(137994)** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **463458557** |

---

&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 February 28, 2026, the value of the fund's securities on loan was $3,477,066 and the value of the collateral was $3,574,169, consisting of cash collateral of $541,700 and U.S. Government & Agency securities valued at $3,032,469. 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 February 28, 2026, these securities amounted to $2,840,949 or .6% of net assets. 

<sup>(d)</sup> Non-income producing security.

<sup>(e)</sup> Investment in real estate investment trust within the United States.

<sup>(f)</sup> The fund held Level 3 securities at February 28, 2026. These securities were valued at $488 or .0% of net assets.

<sup>(g)</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>(h)</sup> Principal amount for accrual purposes is periodically adjusted based on changes in the Consumer Price Index.

<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 ($) <br>8/31/2025<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Net Realized <br>Gain (Loss) ($)<br>| Net Change in <br>Unrealized <br>Appreciation <br>(Depreciation) ($)<br>| Value ($) <br>2/28/2026<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - 39.7%** | **Registered Investment Companies - 39.7%** | **Registered Investment Companies - 39.7%** | **Registered Investment Companies - 39.7%** | **Registered Investment Companies - 39.7%** | **Registered Investment Companies - 39.7%** | **Registered Investment Companies - 39.7%** | **Registered Investment Companies - 39.7%** |
| BNY Mellon <br> Corporate <br> Bond Fund, Cl. <br> M - .0%<br>| 20037942 | 315657 | (20400836) | (289864) | 337101 | - | 315657 |
| BNY Mellon <br> Developed <br> Markets Real <br> Estate <br> Securities <br> Fund, Cl. Y - <br> 1.4%<br>| 5838933 | 175832 | - | - | 477017 | 6491782 | 175832 |
| BNY Mellon <br> Emerging <br> Markets Fund, <br> Cl. M - 5.2%<br>| 10855307 | 10218069 | - | - | 2976043 | 24049419 | 6223 |
| BNY Mellon <br> Floating Rate <br> Income Fund, <br> Cl. Y - 2.2%<br>| 10280187 | 448548 | - | - | (453668) | 10275067 | 448548 |

---

**41**

------

SCHEDULES OF INVESTMENTS (Unaudited) (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)** | **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 ($)<br> 8/31/2025<br>| Purchases ($)<sup>†</sup> | Sales ($) | Net Realized<br> Gain (Loss) ($)<br>| Net Change in<br> Unrealized <br> Appreciation<br> (Depreciation) ($)<br>| Value ($)<br> 2/28/2026<br>| Dividends/<br> Distributions ($)<br>|
| BNY Mellon <br> High Yield <br> Fund, Cl. I - <br> 3.1%<br>| 14593368 | 474627 | (689245) | (101315) | (56648) | 14220787 | 477266 |
| BNY Mellon <br> Income Stock <br> Fund, Cl. M - <br> .0%<br>| 9363874 | 1576077 | (9508525) | (462443) | (968983) | - | 1576077 |
| BNY Mellon <br> Intermediate <br> Bond Fund, Cl. <br> M - .0%<br>| 21801830 | 266070 | (22067366) | (639049) | 638515 | - | 266070 |
| BNY Mellon <br> International <br> Equity Fund, <br> Cl. Y - 17.2%<br>| 59872936 | 19545412 | - | - | 317096 | 79735444 | 10498405 |
| BNY Mellon <br> International <br> Fund, Cl. M - <br> .1%<br>| 357973 | 9020 | - | - | 68170 | 435163 | 9020 |
| BNY Mellon Mid <br> Cap Multi-<br> Strategy <br> Fund, Cl. M - <br> 4.7%<br>| 20334794 | 17682590 | (929095) | 592 | (15358932) | 21729949 | 16528491 |
| BNY Mellon <br> Research <br> Growth Fund, <br> Inc., Cl. Y - <br> 2.0%<br>| 14602684 | 1384251 | (5334873) | 245386 | (1344832) | 9552616 | 1384251 |
| BNY Mellon <br> Small Cap <br> Multi-Strategy <br> Fund, Cl. M - <br> 3.4%<br>| 12667373 | 6308796 | (696507) | 15148 | (2632268) | 15662542 | 4291522 |
| Dreyfus <br> Institutional <br> Preferred <br> Government <br> Plus Money <br> Market Fund, <br> Institutional <br> Shares - .4%<br>| 2782683 | 76212547 | (77063626) | - | - | 1931604 | 79329 |

---

**42**

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **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 ($)<br> 8/31/2025<br>| Purchases ($)<sup>†</sup> | Sales ($) | Net Realized<br> Gain (Loss) ($)<br>| Net Change in<br> Unrealized <br> Appreciation<br> (Depreciation) ($)<br>| Value ($)<br> 2/28/2026<br>| Dividends/<br> Distributions ($)<br>|
| **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>| 575410 | 11310819 | (11344529) | - | - | 541700 | 3824 <br><sup>††</sup><br>|
| **Total - 39.8%** | **203965294** | **145928315** | **(148034602)** | **(1231545)** | **(16001389)** | **184626073** | **36060515** |

---

&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.

**43**

------

STATEMENTS OF ASSETS AND LIABILITIES

February 28, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | BNY Mellon Mid Cap <br>Multi-Strategy Fund<br>| BNY Mellon Small Cap <br>Multi-Strategy Fund<br>|
| **Assets ($):** |  |  |
| Investments in securities—See Schedules of Investments<sup>†</sup> <br>(including securities on loan)<sup>††</sup>—Note 1(c):<br>|  |  |
| Unaffiliated issuers | 133868406 | 137857553 |
| Affiliated issuers | 5204771 | 3805819 |
| Cash | - | 237751 |
| Dividends and securities lending income receivable | 124325 | 104022 |
| Receivable for investment securities sold | 57292 | - |
| Tax reclaim receivable—Note 1(b)  | 12470 | - |
| Receivable for shares of Beneficial Interest subscribed | 251 | 24 |
| Prepaid expenses | 19704 | 19593 |
|  | **139287219** | **142024762** |
| **Liabilities ($):** |  |  |
| Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(b)  | 143483 | 149434 |
| Payable for shares of Beneficial Interest redeemed | 908356 | 829635 |
| Liability for securities on loan—Note 1(c)  | 106085 | - |
| Payable for investment securities purchased | 84303 | 1056464 |
| Trustees' fees and expenses payable | 25715 | 9333 |
| Other accrued expenses | 90326 | 46297 |
|  | **1358268** | **2091163** |
| **Net Assets ($)** | **137928951** | **139933599** |
| **Composition of Net Assets ($):** |  |  |
| Paid-in capital | (192170219) | 94349332 |
| Total distributable earnings (loss) | 330099170 | 45584267 |
| **Net Assets ($)** | **137928951** | **139933599** |
| <sup>†</sup>**Investments at cost ($)** |  |  |
| Unaffiliated issuers | 55698945 | 108488165 |
| Affiliated issuers | 5204771 | 3805819 |
| <sup>††</sup>**Value of securities on loan ($)** | **3769586** | **-** |
| **Net Asset Value Per Share** |  |  |
| **Class M Shares** |  |  |
| Net Assets ($) | 94941327 | 121073358 |
| Shares Outstanding | 37915573 | 7096320 |
| **Net Asset Value Per Share ($)** | **2.50** | **17.06** |
| **Investor Shares** |  |  |
| Net Assets ($) | 42987624 | 18860241 |
| Shares Outstanding | 23278482 | 1260622 |
| **Net Asset Value Per Share ($)** | **1.85** | **14.96** |

---

See notes to financial statements.

**44**

------

&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 ($):** |  |  |  |
| Investments in securities—See Schedules of Investments<sup>†</sup> <br>(including securities on loan)<sup>††</sup>—Note 1(c):<br>|  |  |  |
| Unaffiliated issuers | 243086273 | 195853419 | 278970478 |
| Affiliated issuers | 2390038 | 5325340 | 184626073 |
| Cash denominated in foreign currency<sup>†††</sup> <br>| 291906 | 1241625 | - |
| Receivable for investment securities sold | 119066190 | - | - |
| Tax reclaim receivable—Note 1(b)  | 2384069 | - | - |
| Dividends, interest and securities lending income receivable | 423433 | 204175 | 1036634 |
| Receivable for shares of Beneficial Interest subscribed | 216053 | - | 48075 |
| Prepaid expenses | 19523 | 19974 | 21056 |
|  | **367877485** | **202644533** | **464702316** |
| **Liabilities ($):** |  |  |  |
| Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(b)  | 180391 | 211833 | 169624 |
| Cash overdraft due to Custodian | - | - | 374555 |
| Payable for investment securities purchased | 118361480 | - | 70755 |
| Payable for shares of Beneficial Interest redeemed | 216053 | 13674 | 3613 |
| Liability for securities on loan—Note 1(c)  | 35992 | 851031 | 541700 |
| Trustees' fees and expenses payable | 10868 | 7000 | 18900 |
| Payable for foreign tax on capital gains—Note 1(b)  | - | 790118 | - |
| Other accrued expenses | 49468 | 42323 | 64612 |
|  | **118854252** | **1915979** | **1243759** |
| **Net Assets ($)** | **249023233** | **200728554** | **463458557** |
| **Composition of Net Assets ($):** |  |  |  |
| Paid-in capital | 222791679 | 447072248 | 289368884 |
| Total distributable earnings (loss) | 26231554 | (246343694) | 174089673 |
| **Net Assets ($)** | **249023233** | **200728554** | **463458557** |
| <sup>†</sup>**Investments at cost ($)** |  |  |  |
| Unaffiliated issuers | 209568444 | 147260376 | 137344360 |
| Affiliated issuers | 2390038 | 5325340 | 183739173 |
| <sup>††</sup>**Value of securities on loan ($)** | **34380** | **2366731** | **3477066** |
| <sup>†††</sup>**Cash denominated in foreign currency (cost) ($)** | **282738** | **1708107** | **-** |
| **Net Asset Value Per Share** |  |  |  |
| **Class M Shares** |  |  |  |
| Net Assets ($) | 223157311 | 179212643 | 451051593 |
| Shares Outstanding | 11377993 | 12814810 | 30064831 |
| **Net Asset Value Per Share ($)** | **19.61** | **13.98** | **15.00** |
| **Investor Shares** |  |  |  |
| Net Assets ($) | 25865922 | 21515911 | 12406964 |
| Shares Outstanding | 1219299 | 1492266 | 815516 |
| **Net Asset Value Per Share ($)** | **21.21** | **14.42** | **15.21** |

---

See notes to financial statements.

**45**

------

STATEMENTS OF OPERATIONS

Six Months Ended February 28, 2026 (Unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | BNY Mellon Mid Cap <br>Multi-Strategy Fund<br>| BNY Mellon Small Cap <br>Multi-Strategy Fund<br>|
| **Investment Income ($):** |  |  |
| **Income:** |  |  |
| Cash dividends: |  |  |
| Unaffiliated issuers | 2680188 <br><sup>†</sup><br>| 864845 <br><sup>†</sup><br>|
| Affiliated issuers | 182152 | 72803 |
| Affiliated income net of rebates from securities lending—Note 1(c)  | 9159 | 18816 |
| Interest | 4018 | - |
| **Total Income** | **2875517** | **956464** |
| **Expenses:** |  |  |
| Management fee—Note 3(a)  | 1553959 | 734736 |
| Administration fee—Note 3(a)  | 297408 | 125194 |
| Shareholder servicing costs—Note 3(b)  | 87992 | 26958 |
| Trustees' fees and expenses—Note 3(c)  | 49486 | 16840 |
| Professional fees | 34774 | 22748 |
| Chief Compliance Officer fees—Note 3(b)  | 28934 | 18905 |
| Registration fees | 17074 | 15942 |
| Prospectus and shareholders' reports | 9590 | 6854 |
| Shareholder and regulatory reports service fees—Note 3(b)  | 9000 | 9000 |
| Interest expense—Note 2 | 8637 | - |
| Custodian fees—Note 3(b)  | 7729 | 11968 |
| Loan commitment fees—Note 2  | 4068 | 1245 |
| Miscellaneous | 12220 | 6652 |
| **Total Expenses** | **2120871** | **997042** |
| **Net Investment Income (Loss)** | **754646** | **(40578)** |
| **Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):** |  |  |
| Net realized gain (loss) on investments | 281959235 | 36084269 |
| Net change in unrealized appreciation (depreciation) on investments | (272977774) | (16823971) |
| **Net Realized and Unrealized Gain (Loss) on Investments** | **8981461** | **19260298** |
| **Net Increase in Net Assets Resulting from Operations** | **9736107** | **19219720** |
| <sup>†</sup>**Net of foreign taxes withheld at source ($)** | **6540** | **1545** |

---

See notes to financial statements.

**46**

------

&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 ($):** |  |  |  |
| **Income:** |  |  |  |
| Cash dividends: |  |  |  |
| Unaffiliated issuers | 2361148 <br><sup>†</sup><br>| 1241701 <br><sup>†</sup><br>| 1228934 <br><sup>†</sup><br>|
| Affiliated issuers | 11103 | 61310 | 3643388 |
| Affiliated income net of rebates from securities lending—Note 1(c)  | 2554 | 2435 | 3824 |
| Interest | - | - | 1275406 |
| **Total Income** | **2374805** | **1305446** | **6151552** |
| **Expenses:** |  |  |  |
| Management fee—Note 3(a)  | 977667 | 1031645 | 924606 |
| Administration fee—Note 3(a)  | 167139 | 130391 | 191806 |
| Shareholder servicing costs—Note 3(b)  | 26349 | 23541 | 14530 |
| Professional fees | 24214 | 50607 | 36746 |
| Trustees' fees and expenses—Note 3(c)  | 20377 | 15345 | 42056 |
| Registration fees | 16139 | 16280 | 16887 |
| Chief Compliance Officer fees—Note 3(b)  | 15386 | 16701 | 18599 |
| Shareholder and regulatory reports service fees—Note 3(b)  | 9000 | 9000 | 8667 |
| Prospectus and shareholders' reports | 6413 | 6497 | 6131 |
| Custodian fees—Note 3(b)  | 5748 | 16960 | 4423 |
| Loan commitment fees—Note 2  | 1544 | - | 5134 |
| Miscellaneous | 6104 | 6877 | 12020 |
| **Total Expenses** | **1276080** | **1323844** | **1281605** |
| Less—reduction in expenses due to undertaking—Note 3(a)  | (229818) | (224271) | (64299) |
| **Net Expenses** | **1046262** | **1099573** | **1217306** |
| **Net Investment Income** | **1328543** | **205873** | **4934246** |
| **Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):** |  |  |  |
| Net realized gain (loss) on investments and foreign currency <br> transactions:<br>|  |  |  |
| Unaffiliated issuers | 41031810 | 13529228 | 9000941 |
| Affiliated issuers | - | - | (1231545) |
| Capital gain distributions from affiliated issuers | - | - | 32413303 |
| Net realized gain (loss) on foreign capital gains tax | - | (44771) | - |
| **Net Realized Gain (Loss)** | **41031810** | **13484457** | **40182699** |
| Net change in unrealized appreciation (depreciation) on investments and <br> foreign currency transactions:<br>|  |  |  |
| Unaffiliated issuers | 3162390 | 21819489 | 6633429 |
| Affiliated issuers | - | - | (16001389) |
| Net change in unrealized appreciation (depreciation) on foreign capital <br> gains tax<br>| - | 86304 | - |
| **Net Change in Unrealized Appreciation (Depreciation)** | **3162390** | **21905793** | **(9367960)** |
| **Net Realized and Unrealized Gain (Loss) on Investments** | **44194200** | **35390250** | **30814739** |
| **Net Increase in Net Assets Resulting from Operations** | **45522743** | **35596123** | **35748985** |
| <sup>†</sup>**Net of foreign taxes withheld at source ($)** | **211310** | **201004** | **217** |

---

See notes to financial statements.

**47**

------

STATEMENTS OF CHANGES IN NET ASSETS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Mid Cap <br>Multi-Strategy Fund | BNY Mellon Mid Cap <br>Multi-Strategy Fund | BNY Mellon Small Cap <br>Multi-Strategy Fund | BNY Mellon Small Cap <br>Multi-Strategy Fund |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
| **Operations ($):** |  |  |  |  |
| Net investment income (loss) | 754646 | 3701678 | (40578) | (27326) |
| Net realized gain (loss) on investments | 281959235 | 400403197 | 36084269 | 61022410 |
| Net change in unrealized appreciation <br>(depreciation) on investments<br>| (272977774) | (303895465) | (16823971) | (42431207) |
| **Net Increase (Decrease) in Net Assets** <br>**Resulting from Operations**<br>| **9736107** | **100209410** | **19219720** | **18563877** |
| **Distributions ($):** |  |  |  |  |
| Distributions to shareholders: |  |  |  |  |
| Class M | (228379721) | (223657202) | (45559244) | (26219328) |
| Investor Shares | (75328603) | (27491427) | (7471721) | (2793284) |
| **Total Distributions** | **(303708324)** | **(251148629)** | **(53030965)** | **(29012612)** |
| **Beneficial Interest Transactions ($):** |  |  |  |  |
| Net proceeds from shares sold: |  |  |  |  |
| Class M | 4469296 | 15348568 | 2386972 | 4575034 |
| Investor Shares | 6163523 | 17828824 | 1038240 | 2186584 |
| Distributions reinvested: |  |  |  |  |
| Class M | 97822469 | 94014302 | 22968955 | 10641143 |
| Investor Shares | 64921452 | 23519634 | 6511572 | 2426960 |
| Cost of shares redeemed: |  |  |  |  |
| Class M | (372446230) | (499469522) | (51178814) | (124117632) |
| Investor Shares | (45792811) | (53557454) | (6744086) | (7996928) |
| **Increase (Decrease) in Net Assets from Beneficial** <br> **Interest Transactions**<br>| **(244862301)** | **(402315648)** | **(25017161)** | **(112284839)** |
| **Total Increase (Decrease) in Net Assets** | **(538834518)** | **(553254867)** | **(58828406)** | **(122733574)** |
| **Net Assets ($):** |  |  |  |  |
| Beginning of Period | 676763469 | 1230018336 | 198762005 | 321495579 |
| **End of Period** | **137928951** | **676763469** | **139933599** | **198762005** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See notes to financial statements.

**48**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon Mid Cap <br>Multi-Strategy Fund | BNY Mellon Mid Cap <br>Multi-Strategy Fund | BNY Mellon Small Cap <br>Multi-Strategy Fund | BNY Mellon Small Cap <br>Multi-Strategy Fund |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
| **Capital Share Transactions (Shares):** |  |  |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 1766449 | 975073 | 109654 | 208516 |
| Shares issued for distributions reinvested | 41275303 | 6246798 | 1464857 | 517062 |
| Shares redeemed | (43025739) | (32856995) | (2635441) | (6279674) |
| **Net Increase (Decrease) in Shares Outstanding** | **16013** | **(25635124)** | **(1060930)** | **(5554096)** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 802499 | 1168722 | 52876 | 112216 |
| Shares issued for distributions reinvested | 37097973 | 1629912 | 473225 | 129094 |
| Shares redeemed | (20705431) | (3751277) | (439172) | (433233) |
| **Net Increase (Decrease) in Shares Outstanding** | **17195041** | **(952643)** | **86929** | **(191923)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended February 28, 2026, 446,130 Class M shares representing $5,366,966 were exchanged for 502,923 Investor Shares for BNY Mellon Mid Cap Multi-Strategy Fund and 38,070 Class M shares representing $818,183 were exchanged for 41,797 Investor Shares for BNY Mellon Small Cap Multi- Strategy Fund. During the period ended August 31, 2025, 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 and 85,673 Class M shares representing $1,814,073 were exchanged for 93,486 Investor Shares for BNY Mellon Small Cap Multi-Strategy Fund. 

See notes to financial statements.

**49**

------

STATEMENTS OF CHANGES IN NET ASSETS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon <br>International Fund | BNY Mellon <br>International Fund | BNY Mellon Emerging <br>Markets Fund | BNY Mellon Emerging <br>Markets Fund |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
| **Operations ($):** |  |  |  |  |
| Net investment income | 1328543 | 5464397 | 205873 | 1562594 |
| Net realized gain (loss) on investments | 41031810 | 18871507 | 13484457 | 27899073 |
| Net change in unrealized appreciation <br>(depreciation) on investments<br>| 3162390 | 110032 | 21905793 | (13233452) |
| **Net Increase (Decrease) in Net Assets** <br>**Resulting from Operations**<br>| **45522743** | **24445936** | **35596123** | **16228215** |
| **Distributions ($):** |  |  |  |  |
| Distributions to shareholders: |  |  |  |  |
| Class M | (4946710) | (6741134) | (70730) | (1141844) |
| Investor Shares | (454151) | (429901) | - | (63274) |
| **Total Distributions** | **(5400861)** | **(7171035)** | **(70730)** | **(1205118)** |
| **Beneficial Interest Transactions ($):** |  |  |  |  |
| Net proceeds from shares sold: |  |  |  |  |
| Class M | 14917 | 605863 | 11809322 | 1785530 |
| Investor Shares | 7781801 | 6792597 | 3478668 | 3624339 |
| Distributions reinvested: |  |  |  |  |
| Class M | 521004 | 834734 | 14064 | 198763 |
| Investor Shares | 316363 | 348764 | - | 51385 |
| Cost of shares redeemed: |  |  |  |  |
| Class M | (23960230) | (45376962) | (17169019) | (60710576) |
| Investor Shares | (4435690) | (6659234) | (2504342) | (6521315) |
| **Increase (Decrease) in Net Assets from Beneficial** <br> **Interest Transactions**<br>| **(19761835)** | **(43454238)** | **(4371307)** | **(61571874)** |
| **Total Increase (Decrease) in Net Assets** | **20360047** | **(26179337)** | **31154086** | **(46548777)** |
| **Net Assets ($):** |  |  |  |  |
| Beginning of Period | 228663186 | 254842523 | 169574468 | 216123245 |
| **End of Period** | **249023233** | **228663186** | **200728554** | **169574468** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See notes to financial statements.

**50**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BNY Mellon <br>International Fund | BNY Mellon <br>International Fund | BNY Mellon Emerging <br>Markets Fund | BNY Mellon Emerging <br>Markets Fund |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
| **Capital Share Transactions (Shares):** |  |  |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 866 | 42344 | 896841 | 166905 |
| Shares issued for distributions reinvested | 30450 | 60053 | 1133 | 19185 |
| Shares redeemed | (1362792) | (3055374) | (1348194) | (5942127) |
| **Net Increase (Decrease) in Shares Outstanding** | **(1331476)** | **(2952977)** | **(450220)** | **(5756037)** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |  |  |
| Shares sold | 416579 | 415357 | 266552 | 332357 |
| Shares issued for distributions reinvested | 17081 | 23220 | - | 4797 |
| Shares redeemed | (237744) | (422168) | (193583) | (619452) |
| **Net Increase (Decrease) in Shares Outstanding** | **195916** | **16409** | **72969** | **(282298)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended February 28, 2026, 379,205 Class M shares representing $6,539,876 were exchanged for 351,488 Investor Shares for BNY Mellon International Fund and 271,186 Class M shares representing $3,429,661 were exchanged for 262,930 Investor Shares for BNY Mellon Emerging Markets Fund. During the period ended August 31, 2025, 437,954 Class M shares representing $6,638,201 were exchanged for 405,805 Investor Shares for BNY Mellon International Fund and 287,567 Class M shares representing $3,040,529 were exchanged for 278,626 Investor Shares for BNY Mellon Emerging Markets Fund. 

See notes to financial statements.

**51**

------

STATEMENTS OF CHANGES IN NET ASSETS (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | BNY Mellon Asset <br>Allocation Fund | BNY Mellon Asset <br>Allocation Fund |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
| **Operations ($):** |  |  |
| Net investment income | 4934246 | 7432571 |
| Net realized gain (loss) on investments | 40182699 | 14365248 |
| Net change in unrealized appreciation <br>(depreciation) on investments<br>| (9367960) | 25626079 |
| **Net Increase (Decrease) in Net Assets** <br>**Resulting from Operations**<br>| **35748985** | **47423898** |
| **Distributions ($):** |  |  |
| Distributions to shareholders: |  |  |
| Class M | (24777565) | (20836354) |
| Investor Shares | (657557) | (494387) |
| **Total Distributions** | **(25435122)** | **(21330741)** |
| **Beneficial Interest Transactions ($):** |  |  |
| Net proceeds from shares sold: |  |  |
| Class M | 7384439 | 14458091 |
| Investor Shares | 2294494 | 2591719 |
| Distributions reinvested: |  |  |
| Class M | 10968752 | 8614945 |
| Investor Shares | 554320 | 378719 |
| Cost of shares redeemed: |  |  |
| Class M | (18153248) | (46447306) |
| Investor Shares | (1699854) | (3282872) |
| **Increase (Decrease) in Net Assets from Beneficial Interest Transactions** | **1348903** | **(23686704)** |
| **Total Increase (Decrease) in Net Assets** | **11662766** | **2406453** |
| **Net Assets ($):** |  |  |
| Beginning of Period | 451795791 | 449389338 |
| **End of Period** | **463458557** | **451795791** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See notes to financial statements.

**52**

------

---

| | | |
|:---|:---|:---|
|  | BNY Mellon Asset <br>Allocation Fund | BNY Mellon Asset <br>Allocation Fund |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited) | Year Ended <br>August 31, 2025 |
| **Capital Share Transactions (Shares):** |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |
| Shares sold | 491968 | 1041742 |
| Shares issued for distributions reinvested | 753626 | 638097 |
| Shares redeemed | (1205288) | (3347314) |
| **Net Increase (Decrease) in Shares Outstanding** | **40306** | **(1667475)** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |
| Shares sold | 149987 | 182193 |
| Shares issued for distributions reinvested | 37467 | 27527 |
| Shares redeemed | (113387) | (237098) |
| **Net Increase (Decrease) in Shares Outstanding** | **74067** | **(27378)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended February 28, 2026, 142,112 Class M shares representing $2,145,548 were exchanged for 140,221 Investor Shares for BNY Mellon Asset Allocation Fund. During the period ended August 31, 2025, 182,433 Class M shares representing $2,562,401 were exchanged for 180,099 Investor Shares for BNY Mellon Asset Allocation Fund. 

See notes to financial statements.

**53**

------

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 | Class M Shares |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 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** | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 15.48 | 17.49 | 17.49 | 17.86 | 24.69 | 19.28 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .02 | .07 | .07 | .09 | .06 | .04 |
| Net realized and unrealized gain (loss) on investments | .18 | 1.87 | 2.49 | 1.65 | (4.01)<br>| 6.99 |
| Total from Investment Operations | .20 | 1.94 | 2.56 | 1.74 | (3.95)<br>| 7.03 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | (.08)<br>| (.06)<br>| (.09)<br>| (.08)<br>| (.02)<br>| (.08)<br>|
| Dividends from net realized gain on investments | (13.10)<br>| (3.89)<br>| (2.47)<br>| (2.03)<br>| (2.86)<br>| (1.54)<br>|
| Total Distributions | (13.18)<br>| (3.95)<br>| (2.56)<br>| (2.11)<br>| (2.88)<br>| (1.62)<br>|
| Net asset value, end of period | 2.50 | 15.48 | 17.49 | 17.49 | 17.86 | 24.69 |
| **Total Return (%)** | 5.93 <br><sup>(b)</sup><br>| 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>(c)</sup> <br>| .98 <br><sup>(d)</sup><br>| .95 | .93 | .92 | .90 | .90 |
| Ratio of net expenses to average net assets<sup>(c)</sup> <br>| .98 <br><sup>(d)</sup><br>| .95 <br><sup>(e)</sup><br>| .93 <br><sup>(e)</sup><br>| .92 <br><sup>(e)</sup><br>| .90 | .90 |
| Ratio of net investment income to average net assets<sup>(c)</sup> <br>| .41 <br><sup>(d)</sup><br>| .44 <br><sup>(e)</sup><br>| .41 <br><sup>(e)</sup><br>| .52 <br><sup>(e)</sup><br>| .31 | .18 |
| Portfolio Turnover Rate | 30.63 <br><sup>(b)</sup><br>| 45.73 | 35.97 | 26.34 | 22.23 | 31.74 |
| **Net Assets, end of period ($ x 1,000)** | 94941 | 586600 | 1111121 | 1445234 | 1816047 | 2831948 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Not annualized.

<sup>(c)</sup> Amount does not include the expenses of the underlying funds.

<sup>(d)</sup> Annualized.

<sup>(e)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**54**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 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** | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 14.82 | 16.90 | 16.98 | 17.40 | 24.16 | 18.90 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income (loss)<sup>(a)</sup> <br>| .00 <br><sup>(b)</sup><br>| .03 | .03 | .04 | .01 | (.02)<br>|
| Net realized and unrealized gain (loss) on investments | .16 | 1.80 | 2.40 | 1.60 | (3.91)<br>| 6.86 |
| Total from Investment Operations | .16 | 1.83 | 2.43 | 1.64 | (3.90)<br>| 6.84 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | (.03)<br>| (.02)<br>| (.04)<br>| (.03)<br>| - | (.04)<br>|
| Dividends from net realized gain on investments | (13.10)<br>| (3.89)<br>| (2.47)<br>| (2.03)<br>| (2.86)<br>| (1.54)<br>|
| Total Distributions | (13.13)<br>| (3.91)<br>| (2.51)<br>| (2.06)<br>| (2.86)<br>| (1.58)<br>|
| Net asset value, end of period | 1.85 | 14.82 | 16.90 | 16.98 | 17.40 | 24.16 |
| **Total Return (%)** | 6.15 <br><sup>(c)</sup><br>| 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>(d)</sup> <br>| 1.23 <br><sup>(e)</sup><br>| 1.20 | 1.18 | 1.17 | 1.15 | 1.15 |
| Ratio of net expenses to average net assets<sup>(d)</sup> <br>| 1.23 <br><sup>(e)</sup><br>| 1.20 <br><sup>(f)</sup><br>| 1.18 <br><sup>(f)</sup><br>| 1.17 <br><sup>(f)</sup><br>| 1.15 | 1.15 |
| Ratio of net investment income (loss) to average net <br> assets<sup>(d)</sup> <br>| .16 <br><sup>(e)</sup><br>| .19 <br><sup>(f)</sup><br>| .16 <br><sup>(f)</sup><br>| .27 <br><sup>(f)</sup><br>| .06 | (.08)<br>|
| Portfolio Turnover Rate | 30.63 <br><sup>(c)</sup><br>| 45.73 | 35.97 | 26.34 | 22.23 | 31.74 |
| **Net Assets, end of period ($ x 1,000)** | 42988 | 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 represents less than $.01 per share.

<sup>(c)</sup> Not annualized.

<sup>(d)</sup> Amount does not include the expenses of the underlying funds.

<sup>(e)</sup> Annualized.

<sup>(f)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**55**

------

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 | Class M Shares |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 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** | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 21.54 | 21.48 | 19.64 | 19.76 | 26.07 | 19.28 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income (loss)<sup>(a)</sup> <br>| (.00 )<sup>(b)</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 | 2.14 | 2.21 | 1.88 | .34 | (3.37)<br>| 6.99 |
| Total from Investment Operations | 2.14 | 2.21 | 1.95 | .39 | (3.37)<br>| 6.94 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | (.11)<br>| (.27)<br>| (.03)<br>| - | - | - |
| Dividends from net realized gain on investments | (6.51)<br>| (1.88)<br>| (.08)<br>| (.51)<br>| (2.94)<br>| (.15)<br>|
| Total Distributions | (6.62)<br>| (2.15)<br>| (.11)<br>| (.51)<br>| (2.94)<br>| (.15)<br>|
| Net asset value, end of period | 17.06 | 21.54 | 21.48 | 19.64 | 19.76 | 26.07 |
| **Total Return (%)** | 12.61 <br><sup>(c)</sup><br>| 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 | 1.12 <br><sup>(d)</sup><br>| 1.09 | 1.06 | 1.04 | 1.01 | 1.01 |
| Ratio of net expenses to average net assets | 1.12 <br><sup>(d)</sup><br>| 1.09 <br><sup>(e)</sup><br>| 1.06 <br><sup>(e)</sup><br>| 1.04 <br><sup>(e)</sup><br>| 1.01 | 1.01 |
| Ratio of net investment income (loss) to average net <br> assets<br>| (.02 )<sup>(d)</sup><br>| .01 <br><sup>(e)</sup><br>| .34 <br><sup>(e)</sup><br>| .27 <br><sup>(e)</sup><br>| (.01)<br>| (.19)<br>|
| Portfolio Turnover Rate | 64.49 <br><sup>(c)</sup><br>| 74.67 | 60.95 | 56.56 | 52.04 | 55.94 |
| **Net Assets, end of period ($ x 1,000)** | 121073 | 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> Not annualized.

<sup>(d)</sup> Annualized.

<sup>(e)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**56**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 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** | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 19.65 | 19.77 | 18.10 | 18.30 | 24.41 | 18.11 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income (loss)<sup>(a)</sup> <br>| (.02)<br>| (.04)<br>| .02 | .00 <br><sup>(b)</sup><br>| (.05)<br>| (.10)<br>|
| Net realized and unrealized gain (loss) on investments | 1.90 | 2.02 | 1.73 | .31 | (3.12)<br>| 6.55 |
| Total from Investment Operations | 1.88 | 1.98 | 1.75 | .31 | (3.17)<br>| 6.45 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | (.06)<br>| (.22)<br>| - | - | - | - |
| Dividends from net realized gain on investments | (6.51)<br>| (1.88)<br>| (.08)<br>| (.51)<br>| (2.94)<br>| (.15)<br>|
| Total Distributions | (6.57)<br>| (2.10)<br>| (.08)<br>| (.51)<br>| (2.94)<br>| (.15)<br>|
| Net asset value, end of period | 14.96 | 19.65 | 19.77 | 18.10 | 18.30 | 24.41 |
| **Total Return (%)** | 12.45 <br><sup>(c)</sup><br>| 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 | 1.37 <br><sup>(d)</sup><br>| 1.34 | 1.31 | 1.29 | 1.26 | 1.26 |
| Ratio of net expenses to average net assets | 1.37 <br><sup>(d)</sup><br>| 1.34 <br><sup>(e)</sup><br>| 1.31 <br><sup>(e)</sup><br>| 1.29 <br><sup>(e)</sup><br>| 1.26 | 1.26 |
| Ratio of net investment income (loss) to average net <br> assets<br>| (.27 )<sup>(d)</sup><br>| (.24 )<sup>(e)</sup><br>| .09 <br><sup>(e)</sup><br>| .02 <br><sup>(e)</sup><br>| (.26)<br>| (.44)<br>|
| Portfolio Turnover Rate | 64.49 <br><sup>(c)</sup><br>| 74.67 | 60.95 | 56.56 | 52.04 | 55.94 |
| **Net Assets, end of period ($ x 1,000)** | 18860 | 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> Not annualized.

<sup>(d)</sup> Annualized.

<sup>(e)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**57**

------

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 | Class M Shares |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon International Fund** | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 16.55 | 15.22 | 13.66 | 11.71 | 15.38 | 12.78 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .10 | .36 | .39 | .41 | .33 | .27 |
| Net realized and unrealized gain (loss) on investments | 3.38 | 1.42 | 1.69 | 2.10 | (3.71)<br>| 2.64 |
| Total from Investment Operations | 3.48 | 1.78 | 2.08 | 2.51 | (3.38)<br>| 2.91 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | (.42)<br>| (.45)<br>| (.52)<br>| (.56)<br>| (.29)<br>| (.31)<br>|
| Net asset value, end of period | 19.61 | 16.55 | 15.22 | 13.66 | 11.71 | 15.38 |
| **Total Return (%)** | 21.56 <br><sup>(b)</sup><br>| 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>(c)</sup> <br>| 1.09 <br><sup>(d)</sup><br>| 1.08 | 1.08 | 1.07 | 1.03 | 1.03 |
| Ratio of net expenses to average net assets<sup>(c)</sup> <br>| .89 <br><sup>(d),(e)</sup><br>| .88 <br><sup>(e),(f)</sup><br>| .88 <br><sup>(e),(f)</sup><br>| .99 <br><sup>(e),(f)</sup><br>| 1.03 | 1.03 |
| Ratio of net investment income to average net assets<sup>(c)</sup> <br>| 1.18 <br><sup>(d),(e)</sup><br>| 2.42 <br><sup>(e),(f)</sup><br>| 2.77 <br><sup>(e),(f)</sup><br>| 3.17 <br><sup>(e),(f)</sup><br>| 2.33 | 1.86 |
| Portfolio Turnover Rate | 69.36 <br><sup>(b)</sup><br>| 80.17 | 50.18 | 63.06 | 78.04 | 56.01 |
| **Net Assets, end of period ($ x 1,000)** | 223157 | 210383 | 238347 | 276642 | 337994 | 603937 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Not annualized.

<sup>(c)</sup> Amount does not include the expenses of the underlying funds.

<sup>(d)</sup> Annualized.

<sup>(e)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(f)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**58**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **BNY Mellon International Fund** | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 17.86 | 16.38 | 14.67 | 12.53 | 16.44 | 13.65 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .09 | .35 | .38 | .40 | .31 | .25 |
| Net realized and unrealized gain (loss) on investments | 3.64 | 1.55 | 1.82 | 2.26 | (3.97)<br>| 2.81 |
| Total from Investment Operations | 3.73 | 1.90 | 2.20 | 2.66 | (3.66)<br>| 3.06 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | (.38)<br>| (.42)<br>| (.49)<br>| (.52)<br>| (.25)<br>| (.27)<br>|
| Net asset value, end of period | 21.21 | 17.86 | 16.38 | 14.67 | 12.53 | 16.44 |
| **Total Return (%)** | 21.44 <br><sup>(b)</sup><br>| 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>(c)</sup> <br>| 1.34 <br><sup>(d)</sup><br>| 1.33 | 1.33 | 1.32 | 1.28 | 1.28 |
| Ratio of net expenses to average net assets<sup>(c)</sup> <br>| 1.14 <br><sup>(d),(e)</sup><br>| 1.13 <br><sup>(e),(f)</sup><br>| 1.13 <br><sup>(e),(f)</sup><br>| 1.24 <br><sup>(e),(f)</sup><br>| 1.28 | 1.28 |
| Ratio of net investment income to average net assets<sup>(c)</sup> <br>| .93 <br><sup>(d),(e)</sup><br>| 2.17 <br><sup>(e),(f)</sup><br>| 2.52 <br><sup>(e),(f)</sup><br>| 2.92 <br><sup>(e),(f)</sup><br>| 2.08 | 1.62 |
| Portfolio Turnover Rate | 69.36 <br><sup>(b)</sup><br>| 80.17 | 50.18 | 63.06 | 78.04 | 56.01 |
| **Net Assets, end of period ($ x 1,000)** | 25866 | 18280 | 16495 | 15096 | 15355 | 19392 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Not annualized.

<sup>(c)</sup> Amount does not include the expenses of the underlying funds.

<sup>(d)</sup> Annualized.

<sup>(e)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(f)</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;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 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** | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 11.51 | 10.40 | 9.58 | 10.77 | 14.15 | 11.35 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .02 | .09 | .08 | .06 | .50 | .24 |
| Net realized and unrealized gain (loss) on investments | 2.46 | 1.08 | .90 | .03 | (3.61)<br>| 2.71 |
| Total from Investment Operations | 2.48 | 1.17 | .98 | .09 | (3.11)<br>| 2.95 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | (.01)<br>| (.06)<br>| (.16)<br>| (1.28)<br>| (.27)<br>| (.15)<br>|
| Net asset value, end of period | 13.98 | 11.51 | 10.40 | 9.58 | 10.77 | 14.15 |
| **Total Return (%)** | 21.51 <br><sup>(b)</sup><br>| 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 | 1.45 <br><sup>(c)</sup><br>| 1.49 | 1.52 | 1.52 | 1.43 | 1.39 |
| Ratio of net expenses to average net assets | 1.20 <br><sup>(c),(d)</sup><br>| 1.24 <br><sup>(d),(e)</sup><br>| 1.27 <br><sup>(d),(e)</sup><br>| 1.36 <br><sup>(d),(e)</sup><br>| 1.43 | 1.39 |
| Ratio of net investment income to average net assets | .26 <br><sup>(c),(d)</sup><br>| .86 <br><sup>(d),(e)</sup><br>| .83 <br><sup>(d),(e)</sup><br>| .61 <br><sup>(d),(e)</sup><br>| 4.00 | 1.78 |
| Portfolio Turnover Rate | 42.38 <br><sup>(b)</sup><br>| 56.48 | 30.57 | 121.64 | 60.15 | 63.29 |
| **Net Assets, end of period ($ x 1,000)** | 179213 | 152715 | 197865 | 299278 | 522075 | 1063203 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Not annualized.

<sup>(c)</sup> Annualized.

<sup>(d)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(e)</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;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 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** | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 11.88 | 10.73 | 9.88 | 11.05 | 14.52 | 11.64 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income (loss)<sup>(a)</sup> <br>| (.00 )<sup>(b)</sup><br>| .07 | .06 | .04 | .48 | .21 |
| Net realized and unrealized gain (loss) on investments | 2.54 | 1.12 | .93 | .04 | (3.71)<br>| 2.80 |
| Total from Investment Operations | 2.54 | 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 | 14.42 | 11.88 | 10.73 | 9.88 | 11.05 | 14.52 |
| **Total Return (%)** | 21.48 <br><sup>(c)</sup><br>| 11.00 | 10.08 | .87 | (22.52)<br>| 25.97 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |  |
| Ratio of total expenses to average net assets | 1.70 <br><sup>(d)</sup><br>| 1.74 | 1.77 | 1.77 | 1.68 | 1.64 |
| Ratio of net expenses to average net assets | 1.45 <br><sup>(d),(e)</sup><br>| 1.49 <br><sup>(e),(f)</sup><br>| 1.52 <br><sup>(e),(f)</sup><br>| 1.61 <br><sup>(e),(f)</sup><br>| 1.68 | 1.64 |
| Ratio of net investment income (loss) to average net <br> assets<br>| (.01 )<sup>(d),(e)</sup><br>| .61 <br><sup>(e),(f)</sup><br>| .58 <br><sup>(e),(f)</sup><br>| .36 <br><sup>(e),(f)</sup><br>| 3.75 | 1.53 |
| Portfolio Turnover Rate | 42.38 <br><sup>(c)</sup><br>| 56.48 | 30.57 | 121.64 | 60.15 | 63.29 |
| **Net Assets, end of period ($ x 1,000)** | 21516 | 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 represents less than $.01 per share.

<sup>(c)</sup> Not annualized.

<sup>(d)</sup> Annualized.

<sup>(e)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(f)</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 M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares | Class M Shares |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 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** | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 14.68 | 13.84 | 12.07 | 12.56 | 15.34 | 12.88 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .16 | .24 | .23 | .26 | .21 | .16 |
| Net realized and unrealized gain (loss) on investments | 1.00 | 1.28 | 1.81 | .57 | (2.01)<br>| 2.81 |
| Total from Investment Operations | 1.16 | 1.52 | 2.04 | .83 | (1.80)<br>| 2.97 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | (.39)<br>| (.34)<br>| (.22)<br>| (.26)<br>| (.35)<br>| (.21)<br>|
| Dividends from net realized gain on investments | (.45)<br>| (.34)<br>| (.05)<br>| (1.06)<br>| (.63)<br>| (.30)<br>|
| Total Distributions | (.84)<br>| (.68)<br>| (.27)<br>| (1.32)<br>| (.98)<br>| (.51)<br>|
| Net asset value, end of period | 15.00 | 14.68 | 13.84 | 12.07 | 12.56 | 15.34 |
| **Total Return (%)** | 8.08 <br><sup>(b)</sup><br>| 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>(c)</sup> <br>| .55 <br><sup>(d)</sup><br>| .53 | .49 | .46 | .42 | .40 |
| Ratio of net expenses to average net assets<sup>(c),(e)</sup> <br>| .53 <br><sup>(d)</sup><br>| .50 <br><sup>(f)</sup><br>| .45 <br><sup>(f)</sup><br>| .44 <br><sup>(f)</sup><br>| .41 | .32 |
| Ratio of net investment income to average net <br> assets<sup>(c),(e)</sup> <br>| 2.16 <br><sup>(d)</sup><br>| 1.69 <br><sup>(f)</sup><br>| 1.82 <br><sup>(f)</sup><br>| 2.20 <br><sup>(f)</sup><br>| 1.50 | 1.14 |
| Portfolio Turnover Rate | 19.87 <br><sup>(b)</sup><br>| 27.04 | 30.53 | 32.54 | 29.76 | 17.71 |
| **Net Assets, end of period ($ x 1,000)** | 451052 | 440765 | 438614 | 420930 | 432481 | 537189 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Not annualized.

<sup>(c)</sup> Amount does not include the expenses of the underlying funds.

<sup>(d)</sup> Annualized.

<sup>(e)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(f)</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;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares | Investor Shares |
|  | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 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** | Six Months Ended <br>February 28, 2026 <br>(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | 14.88 | 14.02 | 12.22 | 12.69 | 15.48 | 13.00 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| .14 | .20 | .20 | .24 | .17 | .12 |
| Net realized and unrealized gain (loss) on investments | 1.01 | 1.30 | 1.83 | .57 | (2.02)<br>| 2.83 |
| Total from Investment Operations | 1.15 | 1.50 | 2.03 | .81 | (1.85)<br>| 2.95 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | (.37)<br>| (.30)<br>| (.18)<br>| (.22)<br>| (.31)<br>| (.17)<br>|
| Dividends from net realized gain on investments | (.45)<br>| (.34)<br>| (.05)<br>| (1.06)<br>| (.63)<br>| (.30)<br>|
| Total Distributions | (.82)<br>| (.64)<br>| (.23)<br>| (1.28)<br>| (.94)<br>| (.47)<br>|
| Net asset value, end of period | 15.21 | 14.88 | 14.02 | 12.22 | 12.69 | 15.48 |
| **Total Return (%)** | 7.91 <br><sup>(b)</sup><br>| 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>(c)</sup> <br>| .80 <br><sup>(d)</sup><br>| .78 | .74 | .71 | .67 | .65 |
| Ratio of net expenses to average net assets<sup>(c),(e)</sup> <br>| .78 <br><sup>(d)</sup><br>| .75 <br><sup>(f)</sup><br>| .70 <br><sup>(f)</sup><br>| .69 <br><sup>(f)</sup><br>| .66 | .57 |
| Ratio of net investment income to average net <br> assets<sup>(c),(e)</sup> <br>| 1.90 <br><sup>(d)</sup><br>| 1.44 <br><sup>(f)</sup><br>| 1.57 <br><sup>(f)</sup><br>| 1.97 <br><sup>(f)</sup><br>| 1.25 | .86 |
| Portfolio Turnover Rate | 19.87 <br><sup>(b)</sup><br>| 27.04 | 30.53 | 32.54 | 29.76 | 17.71 |
| **Net Assets, end of period ($ x 1,000)** | 12407 | 11031 | 10776 | 7890 | 8800 | 7815 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Not annualized.

<sup>(c)</sup> Amount does not include the expenses of the underlying funds.

<sup>(d)</sup> Annualized.

<sup>(e)</sup> Amount inclusive of reduction in expenses due to undertaking.

<sup>(f)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**63**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited)

**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 seven series, including the following diversified funds: 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. 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 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; (ii) 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 (iii) BNY Mellon International Fund. 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. 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. 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.

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 of the Trust 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.

**64**

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NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(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:

Investments in debt securities and instruments generally will be valued, to the extent possible, by one or more independent pricing services (the "Service"). When, in the judgment of the Service, quoted bid prices for investments are readily available and are representative of the bid side of the market, these investments 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). The value of other debt securities and instruments is determined by the Service based on methods which include consideration of: 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 Trust's Board of Trustees (the "Board"). Overnight and certain other short-term debt securities and instruments (excluding Treasury bills) will be valued by the amortized cost method, which approximates value, unless a Service provides a valuation for such security or, in the opinion of the board or a committee or other persons designated by the Board, such as the Adviser, the amortized cost method would not represent fair value. These securities are generally categorized within Level 2 of the fair value hierarchy.

Equity investments, including ETFs (but not including investments in other open-end registered investment companies), generally are valued at the last sale price on the day of valuation on the securities exchange or national securities market on which such securities primarily are traded. Securities listed on Nasdaq markets generally will be valued at the official closing price. If there are no transactions in a security, or no official closing prices for a Nasdaq market-listed security on that day, the security will be valued at the average of the most recent bid and asked prices. Bid price is used when no asked price is available. Open short positions for which there is no sale price on a given day are valued at the lowest asked price. Investments in other open-end investment companies are valued at their reported net asset values ("NAVs") each day. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.

Fair value of foreign equity securities may be determined with the assistance of a pricing service using correlations between the movement of prices of foreign securities and indexes of domestic securities and other appropriate indicators, such as closing market prices of relevant ADRs and futures contracts. The valuation of a security based on this fair value process may differ from the security's most recent closing price and from the prices used by other mutual funds to calculate their NAVs. Foreign securities held by a fund may trade on days when the fund does not calculate its NAV and thus may affect the fund's NAV on days when investors will not be able to purchase or sell (redeem) fund shares. Utilizing these techniques may result in transfers between Level 1 and Level 2 of the fair value hierarchy.

Restricted securities, as well as securities or other assets for which recent market quotations or official closing prices are not readily available or are determined not to reflect accurately fair value (such as when the value of a security has been materially affected by events occurring after the close of the exchange or market on which the security is principally traded (for example, a foreign exchange or market), but before the funds calculate their NAV), or which are not valued by the Service, are valued at fair value as determined in good faith based on procedures approved by the Board. Fair value of investments is determined by the Adviser, as the funds' valuation designee

**65**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

pursuant to Rule 2a-5 under the Act, using such information as it deems appropriate under the circumstances. The factors that may be considered when fair valuing a security include fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. Using fair value to price investments may result in a value that is different from a security's most recent closing price and from the prices used by other mutual funds to calculate their NAVs. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

Market quotations of foreign securities in foreign currencies and any fund assets or liabilities initially expressed in terms of foreign currency are translated into U.S. dollars at the spot rate.

The following is a summary of the inputs used as of February 28, 2026 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 Mid Cap Multi-Strategy Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Equity Securities - Common Stocks | &nbsp;&nbsp; 133085649 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **133085649** |
| Exchange-Traded Funds | &nbsp;&nbsp; 732026 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **732026** |
| Rights | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 50731 | &nbsp;&nbsp; **50731** |
| Investment Companies | &nbsp;&nbsp; 5204771 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **5204771** |
|  | &nbsp;&nbsp; **139022446** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **50731** | &nbsp;&nbsp; **139073177** |
| **BNY Mellon Small Cap Multi-Strategy Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Equity Securities - Common Stocks | &nbsp;&nbsp; 137857553 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **137857553** |
| Investment Companies | &nbsp;&nbsp; 3805819 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **3805819** |
|  | &nbsp;&nbsp; **141663372** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **141663372** |
| **BNY Mellon International Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Equity Securities - Common Stocks | &nbsp;&nbsp; 239156703 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **239156703** |
| Equity Securities - Preferred Stocks | &nbsp;&nbsp; 3929570 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **3929570** |
| Investment Companies | &nbsp;&nbsp; 2390038 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **2390038** |
|  | &nbsp;&nbsp; **245476311** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **245476311** |
| **BNY Mellon Emerging Markets Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Equity Securities - Common Stocks | &nbsp;&nbsp; 191221699 | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; **191221699** |
| Equity Securities - Preferred Stocks | &nbsp;&nbsp; 4631720 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **4631720** |

---

**66**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (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 (continued)**<br> **Assets ($) (continued)**<br>|  |  |  |  |
| Investment Companies | &nbsp;&nbsp; 5325340 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **5325340** |
|  | &nbsp;&nbsp; **201178759** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **0** | &nbsp;&nbsp; **201178759** |
| **BNY Mellon Asset Allocation Fund** |  |  |  |  |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Corporate Bonds and Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 22751748 | &nbsp;&nbsp; — | &nbsp;&nbsp; **22751748** |
| Equity Securities - Common Stocks | &nbsp;&nbsp; 200145327 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **200145327** |
| Foreign Governmental | &nbsp;&nbsp; — | &nbsp;&nbsp; 442307 | &nbsp;&nbsp; — | &nbsp;&nbsp; **442307** |
| Rights | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 488 | &nbsp;&nbsp; **488** |
| U.S. Government Agencies Collateralized Municipal-Backed <br> Securities<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 169437 | &nbsp;&nbsp; — | &nbsp;&nbsp; **169437** |
| U.S. Government Agencies Mortgage-Backed | &nbsp;&nbsp; — | &nbsp;&nbsp; 13124397 | &nbsp;&nbsp; — | &nbsp;&nbsp; **13124397** |
| U.S. Treasury Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 42336774 | &nbsp;&nbsp; — | &nbsp;&nbsp; **42336774** |
| Investment Companies | &nbsp;&nbsp; 184626073 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **184626073** |
|  | &nbsp;&nbsp; **384771400** | &nbsp;&nbsp; **78824663** | &nbsp;&nbsp; **488** | &nbsp;&nbsp; **463596551** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>†</sup> See Schedules of Investments for additional detailed categorizations, if any.

**(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 February 28, 2026, 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 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

**67**

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NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

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 February 28, 2026.

---

| | |
|:---|:---|
| **Securities Lending Agreement ($)** |  |
| BNY Mellon Mid Cap Multi-Strategy Fund | 1244 |
| BNY Mellon Small Cap Multi-Strategy Fund | 2562 |
| BNY Mellon International Fund | 348 |
| BNY Mellon Emerging Markets Fund | 334 |
| BNY Mellon Asset Allocation Fund | 518 |

---

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 February 28, 2026, 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. As of February 28, 2026, BNY Mellon Small Cap Multi-Strategy Fund had no securities on loan.

---

| | |
|:---|:---|
| **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; 3769586 |
| 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; (3769586) <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 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;&nbsp;&nbsp; 34380 |
| 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; (34380) <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;

---

| | |
|:---|:---|
| <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>|

---

**68**

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NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

&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; 2366731 |
| 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; (2366731) <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 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; 3477066 |
| 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; (3477066) <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. Local, regional or global events such as war, military conflicts, acts of terrorism, natural disasters, the spread of infectious illness or other public health issues, recessions, elevated levels of government debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events could have a significant impact on the fund and its investments.

**Foreign Investment Risk**: To the extent 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. Market quotations of foreign securities in foreign currencies and any fund assets or liabilities initially expressed in terms of foreign currency are translated into U.S. dollars at the spot rate.

**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.

**69**

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NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

**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.

**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 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 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 February 28, 2026, 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 February 28, 2026, the funds did not incur any interest or penalties.

**70**

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NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

Each tax year in the three-year period ended August 31, 2025 remains subject to examination by the Internal Revenue Service and state taxing authorities.

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 unused 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.

The below table summarizes each fund's tax character of distributions paid to shareholders during the fiscal period ended August 31, 2025. The tax character of current year distributions will be determined at the end of the current fiscal year.

---

| | | |
|:---|:---|:---|
|  | 2025 | 2025 |
| **Tax Character of Distributions Paid** | Ordinary <br>Income ($)<sup>†</sup> <br>| Long-Term <br>Capital Gains ($)<br>|
| BNY Mellon Mid Cap Multi-Strategy Fund | &nbsp;&nbsp; 11616474 | &nbsp;&nbsp; 239532155 |
| BNY Mellon Small Cap Multi-Strategy Fund | &nbsp;&nbsp; 4257410 | &nbsp;&nbsp; 24755202 |
| BNY Mellon International Fund | &nbsp;&nbsp; 7171035 | &nbsp;&nbsp; - |
| BNY Mellon Emerging Markets Fund | &nbsp;&nbsp; 1205118 | &nbsp;&nbsp; - |
| BNY Mellon Asset Allocation Fund | &nbsp;&nbsp; 11038067 | &nbsp;&nbsp; 10292674 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>†</sup> Includes short-term capital gain distributions, if any.

**(h) Operating segment reporting:** In accordance with FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"), each fund has operated and been managed as a single reportable segment, generating returns through dividends, interest, and/or gains from investments aligned with its single stated investment objective as outlined in each fund's prospectus. Each fund's accounting policies are consistent with those described in these Notes to Financial Statements. The chief operating decision maker ("CODM") is represented by BNY Investments and is comprised of Senior Management and Directors of BNY Investments. The CODM considers the net increase in net assets resulting from operations when deciding whether to purchase additional investments or make distributions to shareholders. Detailed financial information for each fund is presented in these financial statements, including total assets and liabilities in the Statement of Assets and Liabilities, investments held in the Schedule of Investments, results of operations and significant segment expenses in the Statement of Operations, and additional performance information—such as total return, portfolio turnover, and ratios—in the Financial Highlights.

**NOTE 2—**

**Bank Lines of Credit:**

The 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 February 28, 2026, BNY Mellon Small Cap Multi-Strategy Fund, BNY Melon International Fund, BNY Mellon Emerging Markets Fund and BNY Mellon Asset Allocation Fund did not borrow under either Facility.

During the period ended February 28, 2026, BNY Mellon Mid Cap Multi-Strategy Fund was charged $8,637 for interest expense. These fees are included in Interest expense in the Statements of Operations. The average amount of borrowings outstanding under the

**71**

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NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

Citibank Credit Facility during the period ended February 28, 2026 was approximately $371,823 with a related weighted average annualized interest rate of 4.68%. As of February 28, 2026, 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: .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 International Fund, the Adviser has contractually agreed from September 1, 2025 through December 31, 2026 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, 2026, the Adviser may terminate this waiver agreement at any time. The reduction in expenses, pursuant to the undertaking amounted to $229,818 during the period ended February 28, 2026.

For BNY Mellon Emerging Markets Fund, the Adviser has contractually agreed from September 1, 2025 through December 31, 2026 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, 2026, the Adviser may terminate this waiver agreement at any time. The reduction in expenses, pursuant to the undertaking, amounted to $224,271 during the period ended February 28, 2026.

For BNY Mellon Asset Allocation Fund, the Adviser has contractually agreed, from September 1, 2025 through December 31, 2026, 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, 2026, the Adviser may terminate this expense limitation agreement at any time. The reduction in expenses, pursuant to the undertaking, amounted to $64,299 during the period ended February 28, 2026.

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 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

**72**

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NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

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.

Effective October 1, 2025, pursuant to a sub-investment advisory agreement between the Adviser and INA, the Adviser pays INA a monthly fee at an annual rate of .20% of the value of BNY Mellon Asset Allocation Fund's average daily net assets.

**(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 February 28, 2026, pursuant to the Shareholder Services Plan, which is included in Shareholder servicing costs in the Statements of Operations.

---

| | |
|:---|:---|
| **Shareholder Services Plan Fees ($)** |  |
| BNY Mellon Mid Cap Multi-Strategy Fund | 87992 |
| BNY Mellon Small Cap Multi-Strategy Fund | 26958 |
| BNY Mellon International Fund | 26349 |
| BNY Mellon Emerging Markets Fund | 23541 |
| BNY Mellon Asset Allocation Fund | 14530 |

---

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 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, February 28, 2026, there was no Transfer Agent cash management fees or earnings credits for each fund pursuant to the transfer agency agreement.

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 February 28, 2026 pursuant to the custody agreement.

---

| | |
|:---|:---|
| **Custodian Fees ($)** |  |
| BNY Mellon Mid Cap Multi-Strategy Fund | 7729 |
| BNY Mellon Small Cap Multi-Strategy Fund | 11968 |
| BNY Mellon International Fund | 5748 |
| BNY Mellon Emerging Markets Fund | 16960 |
| BNY Mellon Asset Allocation Fund | 4423 |

---

**73**

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NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

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 February 28, 2026.

---

| | |
|:---|:---|
| **Chief Compliance Officer Fees ($)** |  |
| BNY Mellon Mid Cap Multi-Strategy Fund | 28934 |
| BNY Mellon Small Cap Multi-Strategy Fund | 18905 |
| BNY Mellon International Fund | 15386 |
| BNY Mellon Emerging Markets Fund | 16701 |
| BNY Mellon Asset Allocation Fund | 18599 |

---

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 February 28, 2026.

---

| | |
|:---|:---|
| **Shareholder and Regulatory Reports Service Fees ($)** |  |
| BNY Mellon Mid Cap Multi-Strategy Fund | 9000 |
| BNY Mellon Small Cap Multi-Strategy Fund | 9000 |
| BNY Mellon International Fund | 9000 |
| BNY Mellon Emerging Markets Fund | 9000 |
| BNY Mellon Asset Allocation Fund | 8667 |

---

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 ($)<br>| Shareholder <br>& Regulatory <br>Reports <br>Service <br>Fees ($)<br>| Less/(Excess) Expense <br>Reimbursement ($)<br>|
| BNY Mellon Mid Cap Multi-<br> Strategy Fund<br>| 82965 | 16593 | 8383 | 8250 | 15292 | 12000 | - |
| BNY Mellon Small Cap Multi-<br> Strategy Fund<br>| 94182 | 16617 | 3682 | 12500 | 10453 | 12000 | - |
| BNY Mellon International Fund | 161035 | 28418 | 4863 | 6000 | 5850 | 12000 | (37775) |
| BNY Mellon Emerging Markets <br> Fund<br>| 172220 | 22461 | 4029 | 32000 | 6806 | 12000 | (37683) |
| BNY Mellon Asset Allocation <br> Fund<br>| 144519 | 32052 | 2248 | 4000 | 7101 | 11667 | (31963) |

---

**(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.

**74**

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NOTES TO FINANCIAL STATEMENTS (Unaudited) (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 February 28, 2026.

---

| | | |
|:---|:---|:---|
| **Purchases and Sales** | Purchases ($) | Sales ($) |
| BNY Mellon Mid Cap Multi-Strategy Fund | &nbsp;&nbsp; 125001637 | &nbsp;&nbsp; 653603237 |
| BNY Mellon Small Cap Multi-Strategy Fund | &nbsp;&nbsp; 109058094 | &nbsp;&nbsp; 184232568 |
| BNY Mellon International Fund | &nbsp;&nbsp; 158704104 | &nbsp;&nbsp; 183969810 |
| BNY Mellon Emerging Markets Fund | &nbsp;&nbsp; 75237969 | &nbsp;&nbsp; 80771253 |
| BNY Mellon Asset Allocation Fund | &nbsp;&nbsp; 104521824 | &nbsp;&nbsp; 90857809 |

---

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 February 28, 2026.

---

| | | | |
|:---|:---|:---|:---|
| **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** | **Accumulated Net Unrealized Appreciation (Depreciation)** |
|  | Gross <br>Appreciation ($)<br>| Gross <br>(Depreciation) ($)<br>| Net ($) |
| BNY Mellon Mid Cap Multi-Strategy Fund | &nbsp;&nbsp; 79040064 | &nbsp;&nbsp; (870603)<br>| &nbsp;&nbsp; 78169461 |
| BNY Mellon Small Cap Multi-Strategy Fund | &nbsp;&nbsp; 34507183 | &nbsp;&nbsp; (5137795)<br>| &nbsp;&nbsp; 29369388 |
| BNY Mellon International Fund | &nbsp;&nbsp; 36760215 | &nbsp;&nbsp; (3242386)<br>| &nbsp;&nbsp; 33517829 |
| BNY Mellon Emerging Markets Fund | &nbsp;&nbsp; 67252469 | &nbsp;&nbsp; (18659426)<br>| &nbsp;&nbsp; 48593043 |
| BNY Mellon Asset Allocation Fund | &nbsp;&nbsp; 160559800 | &nbsp;&nbsp; (18046782)<br>| &nbsp;&nbsp; 142513018 |

---

At February 28, 2026, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Statements of Investments).

**NOTE 5—**

**Subsequent Event:**

The Board has approved the liquidation of BNY Mellon Mid Cap Multi-Strategy Fund ("Liquidated Fund"), a series of the Trust, effective on or about May 22, 2026 (the "Liquidation Date"). Before the Liquidation Date, and at the discretion of Liquidated Fund management, the Liquidated Fund's portfolio securities will be sold and the Liquidated Fund may cease to pursue its investment objective and policies. The liquidation of the Liquidated Fund may result in one or more taxable events for shareholders subject to federal income tax.

**75**

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Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies (Unaudited)

N/A

**76**

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Item 9. Proxy Disclosures for Open-End Management Investment Companies (Unaudited)

N/A

**77**

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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 Mid Cap Multi-Strategy Fund | 78420 |
| BNY Mellon Small Cap Multi-Strategy Fund | 35745 |
| BNY Mellon International Fund | 35763 |
| BNY Mellon Emerging Markets Fund | 32046 |
| BNY Mellon Asset Allocation Fund | 60655 |

---

**78**

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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 September 15-16, 2025 (the "September Meeting"), the Board discussed with representatives of the Adviser the realignment of certain internal investment personnel, whereby certain primary portfolio managers of the funds who are employees of the Adviser and BNY Wealth would become employees of Insight North America LLC ("INA"), an affiliate of the Adviser and BNY Wealth, and would no longer be employees of BNYIA or BNY Wealth (the "Realignment"), with the Realignment scheduled to occur on or about October 1, 2025 (the "Effective Date"). In connection with the Realignment, management of the Adviser and BNY Wealth recommended that the primary portfolio manager responsible for managing the investments of BNY Mellon Bond Fund and BNY Mellon Massachusetts Intermediate Municipal Bond Fund and the fixed-income investments portion of BNY Mellon Asset Allocation Fund continue to manage the respective fund's portfolio albeit as an employee of INA. Consequently, the Adviser proposed to engage INA to serve as each fund's sub-investment adviser, pursuant to a sub-investment advisory agreement between the Adviser and INA (the "Sub-Advisory Agreement"), to be effective on the Effective Date. In addition, the Adviser proposed revising the Trust's Investment Advisory Agreement to reflect the engagement of INA as sub-investment adviser to each fund (as revised, the "Revised Investment Advisory Agreement" and, together with the Sub-Advisory Agreement, the "Agreements"), to be effective on the Effective Date.

At the September Meeting, the Adviser recommended the approval of the Sub-Advisory Agreement, pursuant to which INA would serve as sub-investment adviser to each fund, and the Revised Investment Advisory Agreement. As to each fund, the recommendation for the approval of the Sub-Advisory Agreement and the Revised Investment Advisory Agreement was based on the following considerations, among others: (i) approval of the Agreements would permit the fund's current portfolio manager to continue to be responsible for the day-to-day management of the fund's portfolio after the Effective Date as employees of INA; (ii) there will be no material changes to the fund's investment objective, strategies or policies, no reduction in the nature or level of services provided to the fund, and no increases in the management fee payable by the fund as a result of the proposed changes to the investment advisory arrangements; and (iii) the Adviser (and not the fund) will pay INA for its sub-investment advisory services. The Adviser also confirmed that the appointment of INA as the funds' sub-investment adviser and the adoption of the Sub-Advisory Agreement would not require the approval of the funds' shareholders under the 1940 Act or the Investment Advisers Act of 1940, as amended. The Board also considered the fact that the Adviser stated that it believes there are no material changes to the information the Board had previously considered during the meeting of the Board held on March 24-25, 2025 (the "March Meeting")in connection with the annual contract renewal process (the "15(c) Process"), at which the Board re-approved the Trust's Investment Advisory Agreement for the ensuing year, other than the information about the Realignment and INA.

At the September Meeting, the Independent Trustees were assisted in their review by independent legal counsel and met with counsel in executive session separate from representatives of the Adviser and INA. Since the Board had renewed the Trust's Investment Advisory Agreement as part of the 15(c) Process, and, other than as discussed below, there had been no material changes in the information presented, the Board addressed certain of the relevant considerations by reference to their considerations and determinations during the 15(c) Process portion of the March Meeting. In considering approval 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.

At the September Meeting, the Board considered and approved the Sub-Advisory Agreement and the Revised Investment Advisory Agreement. In determining whether to approve the Sub-Advisory Agreement and the Revised Investment Advisory Agreement, the Board considered the materials prepared by the Adviser received in advance of the September Meeting and other information presented at the September Meeting, which included: (i) a form of the Sub-Advisory Agreement and a form of the Revised Investment Advisory Agreement; (ii) information regarding the Realignment and how it is expected to enhance investment capabilities; (iii) information regarding INA; (iv) information regarding the level of the sub-investment advisory fee to be charged by INA; (v) information regarding INA's compliance program; and (vi) an opinion of counsel that the proposed changes to the investment advisory arrangements would not result in an "assignment" of the Investment Advisory Agreement under the 1940 Act and the Investment Advisers Act of 1940, as amended, and, therefore, do not require the approval of fund shareholders. The Board also considered the substance of discussions with representatives of the Adviser at the September Meeting and in connection with the 15(c) Process at the March Meeting.

<u>Nature, Extent and Quality of Services to be Provided.</u> As to each fund, in examining the nature, extent and quality of the services that were expected to be provided by INA to the fund under the Sub-Advisory Agreement, the Board considered: (i) INA's organization, history, reputation, qualification and background, as well as the qualifications of its personnel; (ii) the expertise of the personnel

**79**

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited) (continued)

providing portfolio management services which would remain the same after the Effective Date; and (iii) the investment strategy for the fund, which would remain the same after the Effective Date. The Board also considered the review process undertaken by the Adviser and the Adviser's favorable assessment of the nature and quality of the sub-investment advisory services expected to be provided to the fund by INA after the Effective Date. Based on their consideration and review of the foregoing information, the Trustees concluded that the nature, extent and quality of the sub-investment advisory services to be provided by INA under the Sub-Advisory Agreement, as well as INA's ability to render such services based on its resources and the experience of the investment team, which will include the fund's current portfolio manager, were adequate and appropriate for the fund in light of the fund's investment objective, and supported a decision to approve the Sub-Advisory Agreement. The Board also considered, as it related to the Revised Investment Advisory Agreement, the Adviser's extensive administrative, accounting and compliance infrastructures, as well as the Adviser's supervisory activities over the fund's portfolio management personnel, and the Adviser's representation that there will be no reduction in the nature, extent or quality of services provided to the fund as a result of the proposed changes to the fund's investment advisory arrangements.

<u>Investment Performance.</u> The Board had considered each fund's investment performance and that of the investment team managing the fund's portfolio as part of the 15(c) Process of the March Meeting (including comparative data provided by Broadridge Financial Solutions, Inc.). The Board considered the performance and that the same investment professionals would continue to manage the fund's assets after the Effective Date, as factors in evaluating the services to be provided by INA under the Sub-Advisory Agreement after the Effective Date, and determined that these factors, when viewed together with the other factors considered by the Board, supported a decision to approve the Sub-Advisory Agreement and the Revised Investment Advisory Agreement.

<u>Costs of Services to be Provided and Profitability.</u> As to each fund, the Board considered the proposed fee payable under the Sub-Advisory Agreement, noting that the fee would be paid by the Adviser and, thus, would not impact the fees paid by the fund. The Board considered the fee payable to INA in relation to the fee paid to the Adviser by the fund and the respective services provided by INA and the Adviser. The Board recognized that, because INA's fee would be paid by the Adviser, and not the fund, an analysis of profitability was more appropriate in the context of the Board's consideration of the Trust's Investment Advisory Agreement, and that the Board had received and considered a profitability analysis of the Adviser and its affiliates, including INA, during the 15(c) Process portion of the March Meeting. The Board concluded that the proposed fee payable to INA by the Adviser was appropriate and the Adviser's profitability was not excessive in light of the nature, extent and quality of the services to be provided to each fund by the Adviser under the Revised Investment Advisory Agreement and INA under the Sub-Advisory Agreement.

<u>Economies of Scale to be Realized.</u> As to each fund, the Board recognized that, because the fee payable to INA would be paid by the Adviser, and not the fund, an analysis of economies of scale was more appropriate in the context of the Board's consideration of the Trust's Investment Advisory Agreement, which had been done during the 15(c) Process portion of the March Meeting. At that time, the Board determined that the economies of scale which may accrue to the Adviser and its affiliates in connection with the management of the fund had been adequately considered by the Adviser in connection with the fee rate charged to the fund pursuant to the Trust's Investment Advisory 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.

The Board also considered whether there were any ancillary benefits that would accrue to INA as a result of its relationship with the funds, and such ancillary benefits, if any, were determined to be reasonable.

In considering the materials and information described above, the Independent Trustees received assistance from, and met separately with, their independent legal counsel, and were provided with a written description of their statutory responsibilities and the legal standards that are applicable to the approval of investment advisory and sub-investment advisory agreements.

After full consideration of the factors discussed above, with no single factor identified as being of paramount importance, as to each fund, the Board members, all of whom are Independent Trustees, with the assistance of independent legal counsel, approved the Sub-Advisory Agreement and Revised Investment Advisory Agreement for the fund effective as of the Effective Date.

**80**

------© 2026 BNY Mellon Securities Corporation

Code-MFTNCSRSA0226-EQ

![](img1d6ae53b1.gif)

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BNY Mellon Bond Fund

**SEMI-ANNUAL FINANCIALS AND OTHER INFORMATION**

February 28, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Class** | **Ticker** |
| M | MPBFX |
| Investor | MIBDX |

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![](img7552b5a91.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 Fund

Please note the Semi-Annual Financials and Other Information only contains Items 7-11 required in Form N-CSR. All other required items will be filed with the Securities and Exchange Commission (the "SEC").

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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_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_SOI-Commoncontent-4759_1)**<br> **[Investment Companies](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_SOI-Commoncontent-4759_1)**<br>| 3 |
| [Schedule of Investments](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_SOI-Commoncontent-4759_1) | 3 |
| [Statement of Assets and Liabilities](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_FS-Commoncontent-4759_1) | 9 |
| [Statement of Operations](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_FS-Commoncontent-4759_2) | 10 |
| [Statement of Changes in Net Assets](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_FS-Commoncontent-4759_3) | 11 |
| [Financial Highlights](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_FIHI-Commoncontent-4759_1) | 12 |
| [Notes to Financial Statements](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_NTF-Commoncontent-4759_1) | 14 |
| **[Item 8. Changes in and Disagreements with Accountants for Open-End Management](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_CDA-Commoncontent-4759_1)**<br> **[Investment Companies](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_CDA-Commoncontent-4759_1)**<br>| 22 |
| **[Item 9. Proxy Disclosures for Open-End Management Investment Companies](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_PRXD-Commoncontent-4759_1)** | 23 |
| **[Item 10. Remuneration Paid to Directors, Officers, and Other of Open-End](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_RMNP-Commoncontent-4759_1)**<br> **[Management Investment Companies](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_RMNP-Commoncontent-4759_1)**<br>| 24 |
| **[Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts](#xx_8fcc73c3-1177-45cd-bdfd-ee93dfe68e21_AAA-Commoncontent-4759_1)** | 25 |

---

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Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

BNY Mellon Bond Fund

SCHEDULE OF INVESTMENTS

February 28, 2026 (Unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>| Value ($) |
| **Asset-Backed Securities — .4%** | **Asset-Backed Securities — .4%** | **Asset-Backed Securities — .4%** | **Asset-Backed Securities — .4%** | **Asset-Backed Securities — .4%** |
| **Asset-Backed Certificates — .4%** | **Asset-Backed Certificates — .4%** | **Asset-Backed Certificates — .4%** | **Asset-Backed Certificates — .4%** | **Asset-Backed Certificates — .4%** |
| DataBank Issuer II LLC, Ser. 2025-1A, Cl. A2<sup>(a)</sup> <br>| 5.18 | 9/27/2055 | 3500000 | 3499152 |
| PK Alift Loan Funding 8 LP, Ser. 2026-1, Cl. A<sup>(a)</sup> <br>| 4.61 | 9/15/2043 | 859000 | 867263 |
| **Total Asset-Backed Securities** <br>(cost $4,343,408) | **Total Asset-Backed Securities** <br>(cost $4,343,408) | **Total Asset-Backed Securities** <br>(cost $4,343,408) |  | **4366415** |
| **Commercial Mortgage-Backed — .9%** | **Commercial Mortgage-Backed — .9%** | **Commercial Mortgage-Backed — .9%** | **Commercial Mortgage-Backed — .9%** | **Commercial Mortgage-Backed — .9%** |
| **Commercial Mortgage Pass-Through Certificates — .9%** | **Commercial Mortgage Pass-Through Certificates — .9%** | **Commercial Mortgage Pass-Through Certificates — .9%** | **Commercial Mortgage Pass-Through Certificates — .9%** | **Commercial Mortgage Pass-Through Certificates — .9%** |
| New Residential Mortgage Loan Trust, Ser. 2025-NQM2, Cl. A1<sup>(a)</sup> <br>| 5.57 | 4/25/2065 | 3237435 | 3291646 |
| New Residential Mortgage Loan Trust, Ser. 2026-NQM2, Cl. A1<sup>(a)</sup> <br>| 4.74 | 12/25/2065 | 2020511 | 2030940 |
| Verus Securitization Trust, Ser. 2025-5, Cl. A1<sup>(a)</sup> <br>| 5.43 | 6/25/2070 | 2902157 | 2933107 |
| Verus Securitization Trust, Ser. 2026-2, Cl. A3<sup>(a)</sup> <br>| 5.05 | 2/25/2071 | 2055555 | 2054529 |
| **Total Commercial Mortgage-Backed** <br>(cost $10,297,026) | **Total Commercial Mortgage-Backed** <br>(cost $10,297,026) | **Total Commercial Mortgage-Backed** <br>(cost $10,297,026) |  | **10310222** |
| **Corporate Bonds and Notes — 31.9%** | **Corporate Bonds and Notes — 31.9%** | **Corporate Bonds and Notes — 31.9%** | **Corporate Bonds and Notes — 31.9%** | **Corporate Bonds and Notes — 31.9%** |
| **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 | 4615433 |
| The Boeing Company, Sr. Unscd. Notes | 6.53 | 5/1/2034 | 3825000 | 4289845 |
|  |  |  |  | **8905278** |
| **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 | 2913257 | **2882316** |
| **Automobiles & Components — .6%** | **Automobiles & Components — .6%** | **Automobiles & Components — .6%** | **Automobiles & Components — .6%** | **Automobiles & Components — .6%** |
| General Motors Financial Co., Inc., Sr. Unscd. Notes | 3.10 | 1/12/2032 | 7400000 | **6845427** |
| **Banks — 10.5%** | **Banks — 10.5%** | **Banks — 10.5%** | **Banks — 10.5%** | **Banks — 10.5%** |
| Bank of America Corp., Jr. Sub. Notes, Ser. TT<sup>(b)</sup> <br>| 6.13 | 4/27/2027 | 8650000 | 8771584 |
| Bank of America Corp., Sr. Unscd. Notes | 4.46 | 2/6/2032 | 6968000 | 7021694 |
| Barclays PLC, Sr. Unscd. Notes | 7.44 | 11/2/2033 | 7250000 | 8323501 |
| Citigroup, Inc., Sub. Notes | 6.17 | 5/25/2034 | 9300000 | 9930961 |
| Citizens Financial Group, Inc., Sr. Unscd. Notes | 5.72 | 7/23/2032 | 7325000 | 7718878 |
| Deutsche Bank AG, Sr. Notes | 5.30 | 5/9/2031 | 8675000 | 8960408 |
| HSBC Holdings PLC, Sr. Unscd. Notes<sup>(c)</sup> <br>| 6.25 | 3/9/2034 | 8000000 | 8748530 |
| JPMorgan Chase & Co., Jr. Sub. Notes, Ser. OO<sup>(b)</sup> <br>| 6.50 | 4/1/2030 | 5475000 | 5738285 |
| JPMorgan Chase & Co., Sub. Notes | 5.19 | 2/5/2037 | 3400000 | 3435958 |
| Mizuho Financial Group, Inc., Sr. Unscd. Notes | 4.44 | 5/12/2032 | 4768000 | 4796432 |
| Morgan Stanley, Sr. Unscd. Notes | 5.59 | 1/18/2036 | 7770000 | 8171161 |
| NatWest Group PLC, Sr. Unscd. Notes | 5.08 | 1/27/2030 | 5500000 | 5645437 |
| Nordea Bank Abp, Jr. Sub. Notes<sup>(a),(b)</sup> <br>| 6.63 | 3/26/2026 | 4280000 | 4290007 |
| Santander Holdings USA, Inc., Sr. Unscd. Bonds<sup>(c)</sup> <br>| 7.66 | 11/9/2031 | 6800000 | 7678113 |
| Societe Generale SA, Sr. Notes<sup>(a)</sup> <br>| 6.69 | 1/10/2034 | 8000000 | 8788274 |
| The Goldman Sachs Group, Inc., Sub. Notes | 6.75 | 10/1/2037 | 8000000 | 8990001 |
| Wells Fargo & Co., Sr. Unscd. Notes | 5.24 | 1/24/2031 | 8500000 | 8820035 |
|  |  |  |  | **125829259** |
| **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 | **5882357** |
| **Consumer Discretionary — .2%** | **Consumer Discretionary — .2%** | **Consumer Discretionary — .2%** | **Consumer Discretionary — .2%** | **Consumer Discretionary — .2%** |
| Las Vegas Sands Corp., Sr. Unscd. Notes | 6.20 | 8/15/2034 | 2000000 | **2112718** |
| **Diversified Financials — 3.6%** | **Diversified Financials — 3.6%** | **Diversified Financials — 3.6%** | **Diversified Financials — 3.6%** | **Diversified Financials — 3.6%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Gtd. Notes | 6.95 | 3/10/2055 | 6500000 | 6871862 |
| Aircastle Ltd., Gtd. Notes<sup>(a)</sup> <br>| 2.85 | 1/26/2028 | 4000000 | 3908852 |

---

**3**

------

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

------

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| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Corporate Bonds and Notes — 31.9% (continued)** | **Corporate Bonds and Notes — 31.9% (continued)** | **Corporate Bonds and Notes — 31.9% (continued)** | **Corporate Bonds and Notes — 31.9% (continued)** | **Corporate Bonds and Notes — 31.9% (continued)** |
| **Diversified Financials — 3.6% (continued)** | **Diversified Financials — 3.6% (continued)** | **Diversified Financials — 3.6% (continued)** | **Diversified Financials — 3.6% (continued)** | **Diversified Financials — 3.6% (continued)** |
| Apollo Debt Solutions BDC, Sr. Unscd. Notes | 6.70 | 7/29/2031 | 5000000 | 5164870 |
| Ares Capital Corp., Sr. Unscd. Notes | 2.88 | 6/15/2028 | 5500000 | 5247822 |
| Blackstone Private Credit Fund, Sr. Unscd. Notes | 5.35 | 3/12/2031 | 1800000 | 1744786 |
| Blackstone Secured Lending Fund, Sr. Unscd. Notes | 2.85 | 9/30/2028 | 6890000 | 6456713 |
| Blue Owl Capital Corp., Sr. Unscd. Notes | 2.63 | 1/15/2027 | 2500000 | 2437751 |
| CDP Financial, Inc., Gtd. Notes<sup>(a)</sup> <br>| 4.88 | 6/5/2029 | 3500000 | 3644025 |
| Ontario Teachers' Finance Trust, Gtd. Notes<sup>(a)</sup> <br>| 2.00 | 4/16/2031 | 4130000 | 3802432 |
| Ontario Teachers' Finance Trust, Gtd. Notes<sup>(a)</sup> <br>| 4.63 | 4/10/2029 | 3500000 | 3611266 |
|  |  |  |  | **42890379** |
| **Electronic Components — .5%** | **Electronic Components — .5%** | **Electronic Components — .5%** | **Electronic Components — .5%** | **Electronic Components — .5%** |
| Jabil, Inc., Sr. Unscd. Notes | 3.60 | 1/15/2030 | 5500000 | **5357186** |
| **Energy — 2.3%** | **Energy — 2.3%** | **Energy — 2.3%** | **Energy — 2.3%** | **Energy — 2.3%** |
| Coterra Energy, Inc., Sr. Unscd. Notes | 5.90 | 2/15/2055 | 1800000 | 1791975 |
| Diamondback Energy, Inc., Gtd. Notes | 3.13 | 3/24/2031 | 4800000 | 4555358 |
| Energy Transfer LP, Sr. Unscd. Notes | 5.55 | 5/15/2034 | 4000000 | 4163083 |
| Enterprise Products Operating LLC, Gtd. Notes | 5.35 | 1/31/2033 | 2000000 | 2114918 |
| Kinder Morgan, Inc., Gtd. Notes<sup>(c)</sup> <br>| 5.20 | 6/1/2033 | 5500000 | 5741013 |
| MPLX LP, Sr. Unscd. Notes | 6.10 | 4/1/2056 | 2896000 | 2895390 |
| Targa Resources Corp., Gtd. Notes | 5.50 | 2/15/2035 | 1750000 | 1811666 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp., Gtd. <br> Notes<br>| 5.00 | 1/15/2028 | 5000000 | 5002917 |
|  |  |  |  | **28076320** |
| **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 | **5790685** |
| **Health Care — 3.3%** | **Health Care — 3.3%** | **Health Care — 3.3%** | **Health Care — 3.3%** | **Health Care — 3.3%** |
| Abbott Laboratories, Sr. Unscd. Notes | 5.50 | 3/15/2056 | 2951000 | 2963304 |
| AbbVie, Inc., Sr. Unscd. Notes | 3.20 | 11/21/2029 | 6000000 | 5861695 |
| Amgen, Inc., Sr. Unscd. Notes | 5.60 | 3/2/2043 | 5075000 | 5189585 |
| Amgen, Inc., Sr. Unscd. Notes | 5.65 | 6/15/2042 | 1605000 | 1661597 |
| CVS Health Corp., Sr. Unscd. Notes | 4.78 | 3/25/2038 | 7250000 | 6930454 |
| HCA, Inc., Gtd. Notes | 5.75 | 3/1/2035 | 5100000 | 5400578 |
| Pfizer Investment Enterprises Pte Ltd., Gtd. Notes | 4.65 | 5/19/2030 | 6520000 | 6685983 |
| UnitedHealth Group, Inc., Sr. Unscd. Notes | 4.95 | 1/15/2032 | 4775000 | 4931482 |
|  |  |  |  | **39624678** |
| **Industrial — .3%** | **Industrial — .3%** | **Industrial — .3%** | **Industrial — .3%** | **Industrial — .3%** |
| LBJ Infrastructure Group LLC, Sr. Scd. Bonds<sup>(a)</sup> <br>| 3.80 | 12/31/2057 | 5000000 | **3647466** |
| **Information Technology — .7%** | **Information Technology — .7%** | **Information Technology — .7%** | **Information Technology — .7%** | **Information Technology — .7%** |
| Oracle Corp., Sr. Unscd. Notes | 3.90 | 5/15/2035 | 7135000 | 6265026 |
| Oracle Corp., Sr. Unscd. Notes | 6.55 | 2/4/2046 | 1931000 | 1882694 |
|  |  |  |  | **8147720** |
| **Insurance — .6%** | **Insurance — .6%** | **Insurance — .6%** | **Insurance — .6%** | **Insurance — .6%** |
| Marsh & McLennan Companies, Inc., Sr. Unscd. Notes | 4.95 | 3/15/2036 | 1461000 | 1474557 |
| Prudential Financial, Inc., Sr. Unscd. Notes | 4.35 | 2/25/2050 | 7250000 | 5934080 |
|  |  |  |  | **7408637** |
| **Internet Software & Services — 1.1%** | **Internet Software & Services — 1.1%** | **Internet Software & Services — 1.1%** | **Internet Software & Services — 1.1%** | **Internet Software & Services — 1.1%** |
| Alphabet, Inc., Sr. Unscd. Notes | 5.65 | 2/15/2056 | 2286000 | 2340857 |
| Amazon.com, Inc., Sr. Unscd. Notes | 1.65 | 5/12/2028 | 5250000 | 5034176 |
| Meta Platforms, Inc., Sr. Unscd. Notes | 4.45 | 8/15/2052 | 7700000 | 6324927 |
|  |  |  |  | **13699960** |

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**4**

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| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Corporate Bonds and Notes — 31.9% (continued)** | **Corporate Bonds and Notes — 31.9% (continued)** | **Corporate Bonds and Notes — 31.9% (continued)** | **Corporate Bonds and Notes — 31.9% (continued)** | **Corporate Bonds and Notes — 31.9% (continued)** |
| **Metals & Mining — .4%** | **Metals & Mining — .4%** | **Metals & Mining — .4%** | **Metals & Mining — .4%** | **Metals & Mining — .4%** |
| Nucor Corp., Sr. Unscd. Notes | 3.13 | 4/1/2032 | 5470000 | **5148898** |
| **Retailing — .4%** | **Retailing — .4%** | **Retailing — .4%** | **Retailing — .4%** | **Retailing — .4%** |
| The Home Depot, Inc., Sr. Unscd. Notes | 1.38 | 3/15/2031 | 5595000 | **4929046** |
| **Semiconductors & Semiconductor Equipment — 1.4%** | **Semiconductors & Semiconductor Equipment — 1.4%** | **Semiconductors & Semiconductor Equipment — 1.4%** | **Semiconductors & Semiconductor Equipment — 1.4%** | **Semiconductors & Semiconductor Equipment — 1.4%** |
| Broadcom, Inc., Gtd. Notes | 2.45 | 2/15/2031 | 4000000 | 3698323 |
| Broadcom, Inc., Sr. Unscd. Notes<sup>(a)</sup> <br>| 3.19 | 11/15/2036 | 6000000 | 5178322 |
| Foundry JV Holdco LLC, Sr. Scd. Notes<sup>(a)</sup> <br>| 5.88 | 1/25/2034 | 5275000 | 5512716 |
| Intel Corp., Sr. Unscd. Notes | 5.60 | 2/21/2054 | 3150000 | 2976899 |
|  |  |  |  | **17366260** |
| **Telecommunication Services — 1.6%** | **Telecommunication Services — 1.6%** | **Telecommunication Services — 1.6%** | **Telecommunication Services — 1.6%** | **Telecommunication Services — 1.6%** |
| AT&T, Inc., Sr. Unscd. Notes | 4.55 | 3/9/2049 | 10250000 | 8621302 |
| T-Mobile USA, Inc., Gtd. Notes | 3.00 | 2/15/2041 | 5685000 | 4329259 |
| Verizon Communications, Inc., Sr. Unscd. Notes | 2.99 | 10/30/2056 | 10303000 | 6285870 |
|  |  |  |  | **19236431** |
| **Transportation — .3%** | **Transportation — .3%** | **Transportation — .3%** | **Transportation — .3%** | **Transportation — .3%** |
| J.B. Hunt Transport Services, Inc., Gtd. Notes | 3.88 | 3/1/2026 | 3750000 | **3750000** |
| **Utilities — 2.2%** | **Utilities — 2.2%** | **Utilities — 2.2%** | **Utilities — 2.2%** | **Utilities — 2.2%** |
| Ameren Corp., Sr. Unscd. Notes | 5.00 | 5/15/2036 | 2798000 | 2802128 |
| American Electric Power Co., Inc., Jr. Sub. Notes, Ser. D | 6.05 | 3/15/2056 | 2000000 | 2007830 |
| CenterPoint Energy Houston Electric LLC, General Ref. Mortgage Bonds, Ser. <br> AR<br>| 4.85 | 4/1/2036 | 1097000 | 1100818 |
| CMS Energy Corp., Jr. Sub. Notes<sup>(c)</sup> <br>| 6.50 | 6/1/2055 | 2000000 | 2091116 |
| Constellation Energy Generation LLC, Sr. Unscd. Notes | 5.88 | 1/15/2066 | 1200000 | 1198730 |
| DTE Electric Co., First Mortgage Bonds, Ser. B | 5.55 | 3/1/2056 | 1517000 | 1515418 |
| Entergy Louisiana LLC, First Mortgage Bonds | 4.90 | 4/15/2036 | 1739000 | 1741859 |
| Exelon Corp., Jr. Sub. Notes | 6.50 | 3/15/2055 | 2000000 | 2094023 |
| Exelon Corp., Sr. Unscd. Notes | 4.95 | 3/15/2036 | 3000000 | 2983644 |
| Indiana Michigan Power Co., Sr. Unscd. Notes | 5.60 | 3/15/2056 | 1789000 | 1784393 |
| NextEra Energy Capital Holdings, Inc., Gtd. Notes | 6.70 | 9/1/2054 | 4295000 | 4462338 |
| Pacific Gas and Electric Co., First Mortgage Bonds | 5.20 | 5/1/2036 | 456000 | 457688 |
| Pacific Gas and Electric Co., First Mortgage Bonds | 6.00 | 5/1/2056 | 2221000 | 2195236 |
|  |  |  |  | **26435221** |
| **Total Corporate Bonds and Notes** <br>(cost $387,801,991) | **Total Corporate Bonds and Notes** <br>(cost $387,801,991) | **Total Corporate Bonds and Notes** <br>(cost $387,801,991) |  | **383966242** |
| **Foreign Governmental — .8%** | **Foreign Governmental — .8%** | **Foreign Governmental — .8%** | **Foreign Governmental — .8%** | **Foreign Governmental — .8%** |
| British Columbia, Sr. Unscd. Notes | 4.20 | 7/6/2033 | 2075000 | 2100241 |
| Japan Finance Organization for Municipalities, Sr. Unscd. Notes<sup>(a)</sup> <br>| 1.38 | 2/10/2031 | 4130000 | 3681482 |
| Province of Manitoba, Canada, Sr. Unscd. Notes | 4.30 | 7/27/2033 | 3720000 | 3785350 |
| **Total Foreign Governmental** <br>(cost $9,151,294) | **Total Foreign Governmental** <br>(cost $9,151,294) | **Total Foreign Governmental** <br>(cost $9,151,294) |  | **9567073** |
| **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>(cost $3,000,000)<br>| 3.49 | 6/1/2036 | 3000000 | **2625339** |
| **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 <br>(cost $4,151,945)<br>| 1.83 | 12/16/2052 | 4416875 | **3795911** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**5**

------

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

------

---

| | | |
|:---|:---|:---|
| Description | Principal<br> Amount ($)<br>| Value ($) |
| **U.S. Government Agencies Mortgage-Backed — 23.6%** | **U.S. Government Agencies Mortgage-Backed — 23.6%** | **U.S. Government Agencies Mortgage-Backed — 23.6%** |
| Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: |
| 2.00%, 12/1/2051-2/1/2052<sup>(d)</sup> <br>| 12268762 | 10241205 |
| 2.50%, 10/1/2051-12/1/2051<sup>(d)</sup> <br>| 14675837 | 12930190 |
| 3.00%, 6/1/2052<sup>(d)</sup> <br>| 5415486 | 4911635 |
| 3.50%, 7/1/2047<sup>(d)</sup> <br>| 4982905 | 4782670 |
| 5.00%, 11/1/2052-11/1/2055<sup>(d)</sup> <br>| 32632832 | 33100828 |
| 5.50%, 12/1/2045-11/1/2055<sup>(d)</sup> <br>| 32217399 | 33060633 |
| Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: |
| 2.00%, 5/1/2051-4/1/2052<sup>(d)</sup> <br>| 33427506 | 28024092 |
| 2.50%, 6/1/2051-4/1/2052<sup>(d)</sup> <br>| 23582490 | 20560214 |
| 3.00%, 6/1/2052-7/1/2052<sup>(d)</sup> <br>| 24410890 | 22144926 |
| 3.50%, 3/1/2048-9/1/2052<sup>(d)</sup> <br>| 10929158 | 10373929 |
| 4.00%, 4/1/2052-9/1/2052<sup>(d)</sup> <br>| 10350710 | 10101433 |
| 4.50%, 10/1/2052<sup>(d)</sup> <br>| 5431817 | 5406169 |
| 5.00%, 1/1/2055<sup>(d)</sup> <br>| 6180474 | 6261218 |
| 5.50%, 7/1/2055-11/1/2055<sup>(d)</sup> <br>| 13297510 | 13643688 |
| 6.00%, 11/1/2054<sup>(d)</sup> <br>| 5661351 | 5823966 |
| Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: |
| 2.00%, 10/20/2050-9/20/2051 | 17383890 | 14561277 |
| 2.50%, 5/20/2051 | 9352987 | 8108772 |
| 3.00%, 6/20/2050 | 2143591 | 1924257 |
| 3.50%, 1/20/2052-9/20/2053 | 9629531 | 9231750 |
| 4.00%, 2/20/2051-6/20/2051 | 7080669 | 6738388 |
| 4.50%, 7/20/2052 | 6717227 | 6695903 |
| 6.50%, 1/20/2056 | 7540317 | 7864829 |
| 7.00%, 6/20/2055 | 5311216 | 5495050 |
| 7.50%, 7/20/2054 | 2313651 | 2404613 |
| **Total U.S. Government Agencies Mortgage-Backed** <br>(cost $284,229,088) |  | **284391635** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>|  |  |
| **U.S. Treasury Securities — 41.9%** | **U.S. Treasury Securities — 41.9%** | **U.S. Treasury Securities — 41.9%** | **U.S. Treasury Securities — 41.9%** | **U.S. Treasury Securities — 41.9%** |
| U.S. Treasury Bonds | 3.63 | 2/15/2053 | 7000000 | 5878633 |
| U.S. Treasury Bonds | 3.63 | 5/15/2053 | 17890000 | 15014322 |
| U.S. Treasury Bonds | 3.88 | 2/15/2043 | 15435000 | 14305110 |
| U.S. Treasury Bonds<sup>(c)</sup> <br>| 4.00 | 11/15/2052 | 2323000 | 2087842 |
| U.S. Treasury Bonds | 4.13 | 8/15/2053 | 9250000 | 8489043 |
| U.S. Treasury Bonds<sup>(c)</sup> <br>| 4.63 | 11/15/2045 | 34600000 | 34835172 |
| U.S. Treasury Bonds<sup>(c)</sup> <br>| 4.63 | 11/15/2055 | 12600000 | 12581297 |
| U.S. Treasury Bonds | 4.75 | 2/15/2045 | 19500000 | 19993594 |
| U.S. Treasury Bonds<sup>(c)</sup> <br>| 4.75 | 11/15/2053 | 5750000 | 5844785 |
| U.S. Treasury Bonds | 4.75 | 8/15/2055 | 7750000 | 7894101 |
| U.S. Treasury Inflation Indexed Notes<sup>(e)</sup> <br>| 0.50 | 1/15/2028 | 10509920 | 10440223 |
| U.S. Treasury Notes | 2.88 | 4/30/2029 | 1000000 | 984258 |
| U.S. Treasury Notes | 3.25 | 6/30/2029 | 17435000 | 17345782 |
| U.S. Treasury Notes<sup>(c)</sup> <br>| 3.50 | 1/31/2028 | 35000000 | 35069727 |
| U.S. Treasury Notes<sup>(c)</sup> <br>| 3.50 | 9/30/2029 | 15150000 | 15183732 |
| U.S. Treasury Notes | 3.50 | 11/30/2030 | 10750000 | 10745801 |
| U.S. Treasury Notes | 3.63 | 8/31/2029 | 21750000 | 21889761 |
| U.S. Treasury Notes | 3.63 | 3/31/2030 | 10000000 | 10059961 |
| U.S. Treasury Notes<sup>(c)</sup> <br>| 3.63 | 8/31/2030 | 5110000 | 5136947 |

---

**6**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **U.S. Treasury Securities — 41.9% (continued)** | **U.S. Treasury Securities — 41.9% (continued)** | **U.S. Treasury Securities — 41.9% (continued)** | **U.S. Treasury Securities — 41.9% (continued)** | **U.S. Treasury Securities — 41.9% (continued)** |
| U.S. Treasury Notes | 3.63 | 9/30/2030 | 1250000 | 1256592 |
| U.S. Treasury Notes | 3.63 | 12/31/2030 | 25000000 | 25119140 |
| U.S. Treasury Notes | 3.75 | 5/15/2028 | 8026000 | 8087606 |
| U.S. Treasury Notes | 3.75 | 5/31/2030 | 11250000 | 11369092 |
| U.S. Treasury Notes | 3.75 | 11/30/2032 | 7675000 | 7696436 |
| U.S. Treasury Notes | 3.88 | 4/30/2030 | 5500000 | 5585078 |
| U.S. Treasury Notes | 3.88 | 6/30/2030 | 10000000 | 10156640 |
| U.S. Treasury Notes | 3.88 | 12/31/2032 | 23750000 | 23987500 |
| U.S. Treasury Notes | 4.00 | 7/31/2030 | 16500000 | 16842891 |
| U.S. Treasury Notes<sup>(c)</sup> <br>| 4.00 | 11/15/2035 | 15500000 | 15558125 |
| U.S. Treasury Notes | 4.13 | 8/31/2030 | 13500000 | 13848047 |
| U.S. Treasury Notes | 4.25 | 2/28/2029 | 16105000 | 16495043 |
| U.S. Treasury Notes | 4.25 | 6/30/2029 | 18660000 | 19148003 |
| U.S. Treasury Notes | 4.25 | 1/31/2030 | 6000000 | 6173437 |
| U.S. Treasury Notes | 4.25 | 5/15/2035 | 6250000 | 6411377 |
| U.S. Treasury Notes | 4.38 | 8/31/2028 | 12920000 | 13224326 |
| U.S. Treasury Notes | 4.38 | 11/30/2028 | 19500000 | 20000449 |
| U.S. Treasury Notes | 4.38 | 5/15/2034 | 5000 | 5192 |
| U.S. Treasury Notes | 4.50 | 5/31/2029 | 4915000 | 5078673 |
| U.S. Treasury Notes | 4.63 | 5/31/2031 | 10455000 | 10985714 |
| U.S. Treasury Notes | 4.88 | 10/31/2028 | 13800000 | 14318039 |
| **Total U.S. Treasury Securities** <br>(cost $500,918,598) | **Total U.S. Treasury Securities** <br>(cost $500,918,598) | **Total U.S. Treasury Securities** <br>(cost $500,918,598) |  | **505127491** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>| Shares |  |
| **Investment Companies — .1%** | **Investment Companies — .1%** | **Investment Companies — .1%** | **Investment Companies — .1%** |
| **Registered Investment Companies — .1%** | **Registered Investment Companies — .1%** | **Registered Investment Companies — .1%** | **Registered Investment Companies — .1%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional <br> Shares<sup>(f)</sup> <br>(cost $613,962)<br>| 3.72 | 613962 | **613962** |
| **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%** |
| **Registered Investment Companies — .1%** | **Registered Investment Companies — .1%** | **Registered Investment Companies — .1%** | **Registered Investment Companies — .1%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional <br> Shares<sup>(f)</sup> <br>(cost $1,627,370)<br>| 3.72 | 1627370 | **1627370** |
| **Total Investments** (cost $1,206,134,682) | **Total Investments** (cost $1,206,134,682) | **100.2%** | **1206391660** |
| **Liabilities, Less Cash and Receivables** | **Liabilities, Less Cash and Receivables** | **(.2%)** | **(1848569)** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **1204543091** |

---

&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 February 28, 2026, these securities amounted to $60,741,479 or 5.0% 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 February 28, 2026, the value of the fund's securities on loan was $132,816,927 and the value of the collateral was $136,470,832, consisting of cash collateral of $1,627,370 and U.S. Government & Agency securities valued at $134,843,462. In addition, the value of collateral may include pending sales that are also on loan. 

<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. 

**7**

------

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** |
| Description | Value ($) <br>8/31/2025<br>| Purchases ($)<sup>†</sup> <br>| Sales ($) | Value ($) <br>2/28/2026<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - .1%** | **Registered Investment Companies - .1%** | **Registered Investment Companies - .1%** | **Registered Investment Companies - .1%** | **Registered Investment Companies - .1%** | **Registered Investment Companies - .1%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .1%<br>| 5920346 | 101863509 | (107169893) | 613962 | 126607 |
| **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 Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .1%<br>| 4017569 | 207685588 | (210075787) | 1627370 | 72126<sup>††</sup> <br>|
| **Total - .2%** | **9937915** | **309549097** | **(317245680)** | **2241332** | **198733** |

---

&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>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures** | **Futures** | **Futures** | **Futures** | **Futures** | **Futures** |
| Description | Number of <br>Contracts<br>| Expiration | Notional <br>Value ($)<br>| Market <br>Value ($)<br>| Unrealized <br>Appreciation <br>(Depreciation) ($)<br>|
| **Futures Long** |  |  |  |  |  |
| 2 Year U.S. Treasury Note | &nbsp;&nbsp; 201 | &nbsp;&nbsp; 6/30/2026 | &nbsp;&nbsp; 42007690 | &nbsp;&nbsp; 42063961 | &nbsp;&nbsp; 56271 |
| 10 Year U.S. Treasury Note | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 6/18/2026 | &nbsp;&nbsp; 4085139 | &nbsp;&nbsp; 4097250 | &nbsp;&nbsp; 12111 |
| **Futures Short** |  |  |  |  |  |
| 5 Year U.S. Treasury Note | &nbsp;&nbsp; 236 | &nbsp;&nbsp; 6/30/2026 | &nbsp;&nbsp; 25850836 | &nbsp;&nbsp; 25993189 | &nbsp;&nbsp; (142353) |
| Ultra 10 Year U.S. Treasury Note | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 6/18/2026 | &nbsp;&nbsp; 1515497 | &nbsp;&nbsp; 1517547 | &nbsp;&nbsp; (2050) |
| Ultra U.S. Treasury Bond | &nbsp;&nbsp; 19 | &nbsp;&nbsp; 6/18/2026 | &nbsp;&nbsp; 2278179 | &nbsp;&nbsp; 2310282 | &nbsp;&nbsp; (32103) |
| **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** |  |  | **68382** |
| **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** |  |  | **(176506)** |

---

See notes to financial statements.

**8**

------

STATEMENT OF ASSETS AND LIABILITIES

February 28, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | Cost | Value |
| **Assets ($):** |  |  |
| Investments in securities—See Schedule of Investments <br>(including securities on loan, valued at $132,816,927)—Note 1(b):<br>|  |  |
| Unaffiliated issuers | 1203893350 | &nbsp;&nbsp;&nbsp;&nbsp; 1204150328 |
| Affiliated issuers | 2241332 | &nbsp;&nbsp;&nbsp;&nbsp; 2241332 |
| Cash collateral held by broker—Note 4  |  | &nbsp;&nbsp;&nbsp;&nbsp; 601212 |
| Dividends, interest and securities lending income receivable |  | &nbsp;&nbsp;&nbsp;&nbsp; 10345534 |
| Receivable for shares of Beneficial Interest subscribed |  | &nbsp;&nbsp;&nbsp;&nbsp; 760217 |
| Prepaid expenses |  | &nbsp;&nbsp;&nbsp;&nbsp; 24309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; **1218122932** |
| **Liabilities ($):** |  |  |
| Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(b)  |  | &nbsp;&nbsp;&nbsp;&nbsp; 533722 |
| Cash overdraft due to Custodian |  | &nbsp;&nbsp;&nbsp;&nbsp; 2854501 |
| Payable for investment securities purchased |  | &nbsp;&nbsp;&nbsp;&nbsp; 6598972 |
| Payable for shares of Beneficial Interest redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; 1783935 |
| Liability for securities on loan—Note 1(b)  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1627370 |
| Payable for futures variation margin—Note 4  |  | &nbsp;&nbsp;&nbsp;&nbsp; 77585 |
| Trustees' fees and expenses payable |  | &nbsp;&nbsp;&nbsp;&nbsp; 55300 |
| Other accrued expenses |  | &nbsp;&nbsp;&nbsp;&nbsp; 48456 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; **13579841** |
| **Net Assets ($)** |  | &nbsp;&nbsp;&nbsp;&nbsp; **1204543091** |
| **Composition of Net Assets ($):** |  |  |
| Paid-in capital |  | &nbsp;&nbsp;&nbsp;&nbsp; 1358626672 |
| Total distributable earnings (loss) |  | &nbsp;&nbsp;&nbsp;&nbsp; (154083581)<br>|
| **Net Assets ($)** |  | &nbsp;&nbsp;&nbsp;&nbsp; **1204543091** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Net Asset Value Per Share** | Class M | Investor Shares |
| Net Assets ($) | &nbsp;&nbsp;&nbsp;&nbsp; 1195237859 | &nbsp;&nbsp;&nbsp;&nbsp; 9305232 |
| Shares Outstanding | &nbsp;&nbsp;&nbsp;&nbsp; 106312777 | &nbsp;&nbsp;&nbsp;&nbsp; 826719 |
| **Net Asset Value Per Share ($)** | &nbsp;&nbsp;&nbsp;&nbsp;**11.24** | &nbsp;&nbsp;&nbsp;&nbsp;**11.26** |

---

See notes to financial statements.

**9**

------

STATEMENT OF OPERATIONS

Six Months Ended February 28, 2026 (Unaudited)

---

| | |
|:---|:---|
| **Investment Income ($):** |  |
| **Income:** |  |
| Interest | &nbsp;&nbsp;&nbsp;&nbsp; 26339682 |
| Dividends: |  |
| Affiliated issuers | &nbsp;&nbsp;&nbsp;&nbsp; 126607 |
| Affiliated income net of rebates from securities lending—Note 1(b)  | &nbsp;&nbsp;&nbsp;&nbsp; 72126 |
| **Total Income** | &nbsp;&nbsp;&nbsp;&nbsp; **26538415** |
| **Expenses:** |  |
| Management fee—Note 3(a)  | &nbsp;&nbsp;&nbsp;&nbsp; 2418287 |
| Administration fee—Note 3(a)  | &nbsp;&nbsp;&nbsp;&nbsp; 877748 |
| Trustees' fees and expenses—Note 3(c)  | &nbsp;&nbsp;&nbsp;&nbsp; 109693 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp; 63382 |
| Loan commitment fees—Note 2  | &nbsp;&nbsp;&nbsp;&nbsp; 24270 |
| Registration fees | &nbsp;&nbsp;&nbsp;&nbsp; 18576 |
| Chief Compliance Officer fees—Note 3(b)  | &nbsp;&nbsp;&nbsp;&nbsp; 15059 |
| Shareholder servicing costs—Note 3(b)  | &nbsp;&nbsp;&nbsp;&nbsp; 11691 |
| Shareholder and regulatory reports service fees—Note 3(b)  | &nbsp;&nbsp;&nbsp;&nbsp; 9000 |
| Custodian fees—Note 3(b)  | &nbsp;&nbsp;&nbsp;&nbsp; 8544 |
| Prospectus and shareholders' reports | &nbsp;&nbsp;&nbsp;&nbsp; 4431 |
| Miscellaneous | &nbsp;&nbsp;&nbsp;&nbsp; 11757 |
| **Total Expenses** | &nbsp;&nbsp;&nbsp;&nbsp; **3572438** |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp; **22965977** |
| **Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):** |  |
| Net realized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp; (4232787)<br>|
| Net realized gain (loss) on futures | &nbsp;&nbsp;&nbsp;&nbsp; (175783)<br>|
| **Net Realized Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp; **(4408570)**<br>|
| Net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp;&nbsp;&nbsp; 26922270 |
| Net change in unrealized appreciation (depreciation) on futures | &nbsp;&nbsp;&nbsp;&nbsp; (108124)<br>|
| **Net Change in Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp; **26814146** |
| **Net Realized and Unrealized Gain (Loss) on Investments** | &nbsp;&nbsp;&nbsp;&nbsp; **22405576** |
| **Net Increase in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp; **45371553** |

---

See notes to financial statements.

**10**

------

STATEMENT OF CHANGES IN NET ASSETS

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; Year Ended <br>August 31, 2025 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; Year Ended <br>August 31, 2025 |
| **Operations ($):** |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp; 22965977 | &nbsp;&nbsp;&nbsp;&nbsp; 49147835 |
| Net realized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp; (4408570) | &nbsp;&nbsp;&nbsp;&nbsp; (21464434) |
| Net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp;&nbsp;&nbsp; 26814146 | &nbsp;&nbsp;&nbsp;&nbsp; 7023410 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp; **45371553** | &nbsp;&nbsp;&nbsp;&nbsp; **34706811** |
| **Distributions ($):** |  |  |
| Distributions to shareholders: |  |  |
| Class M | &nbsp;&nbsp;&nbsp;&nbsp; (22981737) | &nbsp;&nbsp;&nbsp;&nbsp; (48685338) |
| Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp; (169313) | &nbsp;&nbsp;&nbsp;&nbsp; (314621) |
| **Total Distributions** | &nbsp;&nbsp;&nbsp;&nbsp; **(23151050)** | &nbsp;&nbsp;&nbsp;&nbsp; **(48999959)** |
| **Beneficial Interest Transactions ($):** |  |  |
| Net proceeds from shares sold: |  |  |
| Class M | &nbsp;&nbsp;&nbsp;&nbsp; 82620025 | &nbsp;&nbsp;&nbsp;&nbsp; 330918282 |
| Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp; 8047248 | &nbsp;&nbsp;&nbsp;&nbsp; 17616862 |
| Distributions reinvested: |  |  |
| Class M | &nbsp;&nbsp;&nbsp;&nbsp; 3353016 | &nbsp;&nbsp;&nbsp;&nbsp; 10018259 |
| Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp; 123229 | &nbsp;&nbsp;&nbsp;&nbsp; 261592 |
| Cost of shares redeemed: |  |  |
| Class M | &nbsp;&nbsp;&nbsp;&nbsp; (167272284) | &nbsp;&nbsp;&nbsp;&nbsp; (344116679) |
| Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp; (6385680) | &nbsp;&nbsp;&nbsp;&nbsp; (19626824) |
| **Increase (Decrease) in Net Assets from Beneficial Interest Transactions** | &nbsp;&nbsp;&nbsp;&nbsp; **(79514446)** | &nbsp;&nbsp;&nbsp;&nbsp; **(4928508)** |
| **Total Increase (Decrease) in Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp; **(57293943)** | &nbsp;&nbsp;&nbsp;&nbsp; **(19221656)** |
| **Net Assets ($):** |  |  |
| Beginning of Period | &nbsp;&nbsp;&nbsp;&nbsp; 1261837034 | &nbsp;&nbsp;&nbsp;&nbsp; 1281058690 |
| **End of Period** | &nbsp;&nbsp;&nbsp;&nbsp; **1204543091** | &nbsp;&nbsp;&nbsp;&nbsp; **1261837034** |
| **Capital Share Transactions (Shares):** |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |
| Shares sold | &nbsp;&nbsp;&nbsp;&nbsp; 7406694 | &nbsp;&nbsp;&nbsp;&nbsp; 30048986 |
| Shares issued for distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp; 301084 | &nbsp;&nbsp;&nbsp;&nbsp; 912612 |
| Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp; (14994786) | &nbsp;&nbsp;&nbsp;&nbsp; (31538304) |
| **Net Increase (Decrease) in Shares Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp; **(7287008)** | &nbsp;&nbsp;&nbsp;&nbsp; **(576706)** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |
| Shares sold | &nbsp;&nbsp;&nbsp;&nbsp; 720732 | &nbsp;&nbsp;&nbsp;&nbsp; 1609462 |
| Shares issued for distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp; 11053 | &nbsp;&nbsp;&nbsp;&nbsp; 23811 |
| Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp; (571969) | &nbsp;&nbsp;&nbsp;&nbsp; (1795375) |
| **Net Increase (Decrease) in Shares Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp; **159816** | &nbsp;&nbsp;&nbsp;&nbsp; **(162102)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended February 28, 2026, 713,802 Class M shares representing $7,963,217 were exchanged for 713,208 Investor Shares and 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. 

See notes to financial statements.

**11**

------

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.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **Class M Shares** | &nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;11.04 | &nbsp;&nbsp;&nbsp;&nbsp;11.14 | &nbsp;&nbsp;&nbsp;&nbsp;10.77 | &nbsp;&nbsp;&nbsp;&nbsp;11.22 | &nbsp;&nbsp;&nbsp;&nbsp;13.10 | &nbsp;&nbsp;&nbsp;&nbsp;13.63 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; .21 | &nbsp;&nbsp;&nbsp;&nbsp; .42 | &nbsp;&nbsp;&nbsp;&nbsp; .39 | &nbsp;&nbsp;&nbsp;&nbsp; .32 | &nbsp;&nbsp;&nbsp;&nbsp; .25 | &nbsp;&nbsp;&nbsp;&nbsp; .23 |
| Net realized and unrealized gain (loss) on <br> investments<br>| &nbsp;&nbsp;&nbsp;&nbsp; .20 | &nbsp;&nbsp;&nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .37 | &nbsp;&nbsp;&nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.83)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.17)<br>|
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp; .41 | &nbsp;&nbsp;&nbsp;&nbsp; .32 | &nbsp;&nbsp;&nbsp;&nbsp; .76 | &nbsp;&nbsp;&nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.58)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .06 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | &nbsp;&nbsp;&nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.42)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.33)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.31)<br>|
| Dividends from net realized gain on <br> investments<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; (.28)<br>|
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.42)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.33)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.59)<br>|
| Net asset value, end of period | &nbsp;&nbsp;&nbsp;&nbsp;11.24 | &nbsp;&nbsp;&nbsp;&nbsp;11.04 | &nbsp;&nbsp;&nbsp;&nbsp;11.14 | &nbsp;&nbsp;&nbsp;&nbsp;10.77 | &nbsp;&nbsp;&nbsp;&nbsp;11.22 | &nbsp;&nbsp;&nbsp;&nbsp;13.10 |
| **Total Return (%)** | &nbsp;&nbsp;&nbsp;&nbsp; 3.77 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;2.95 | &nbsp;&nbsp;&nbsp;&nbsp;7.20 | &nbsp;&nbsp;&nbsp;&nbsp; (1.05)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (12.19)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .50 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |  |
| Ratio of total expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .59 <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .58 | &nbsp;&nbsp;&nbsp;&nbsp; .57 | &nbsp;&nbsp;&nbsp;&nbsp; .57 | &nbsp;&nbsp;&nbsp;&nbsp; .55 | &nbsp;&nbsp;&nbsp;&nbsp; .55 |
| Ratio of net expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .59 <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .58 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .57 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .57 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .55 | &nbsp;&nbsp;&nbsp;&nbsp; .55 |
| Ratio of net investment income to average <br> net assets<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.80 <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.84 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.62 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.91 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;2.07 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;&nbsp; 30.95 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;58.24 | &nbsp;&nbsp;&nbsp;&nbsp;56.80 | &nbsp;&nbsp;&nbsp;&nbsp;45.46 | &nbsp;&nbsp;&nbsp;&nbsp;88.66 | &nbsp;&nbsp;&nbsp;&nbsp;72.04 |
| **Net Assets, end of period ($ x 1,000)** | &nbsp;&nbsp;&nbsp;&nbsp; 1195238 | &nbsp;&nbsp;&nbsp;&nbsp; 1254468 | &nbsp;&nbsp;&nbsp;&nbsp; 1271824 | &nbsp;&nbsp;&nbsp;&nbsp; 1181267 | &nbsp;&nbsp;&nbsp;&nbsp; 1172292 | &nbsp;&nbsp;&nbsp;&nbsp; 1339003 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Not annualized.

<sup>(c)</sup> Annualized.

<sup>(d)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**12**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **Investor Shares** | &nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;11.05 | &nbsp;&nbsp;&nbsp;&nbsp;11.14 | &nbsp;&nbsp;&nbsp;&nbsp;10.76 | &nbsp;&nbsp;&nbsp;&nbsp;11.21 | &nbsp;&nbsp;&nbsp;&nbsp;13.08 | &nbsp;&nbsp;&nbsp;&nbsp;13.60 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; .20 | &nbsp;&nbsp;&nbsp;&nbsp; .39 | &nbsp;&nbsp;&nbsp;&nbsp; .36 | &nbsp;&nbsp;&nbsp;&nbsp; .29 | &nbsp;&nbsp;&nbsp;&nbsp; .23 | &nbsp;&nbsp;&nbsp;&nbsp; .20 |
| Net realized and unrealized gain (loss) on <br> investments<br>| &nbsp;&nbsp;&nbsp;&nbsp; .21 | &nbsp;&nbsp;&nbsp;&nbsp; (.10)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .37 | &nbsp;&nbsp;&nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.83)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.16)<br>|
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp; .41 | &nbsp;&nbsp;&nbsp;&nbsp; .29 | &nbsp;&nbsp;&nbsp;&nbsp; .73 | &nbsp;&nbsp;&nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.60)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .04 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | &nbsp;&nbsp;&nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.28)<br>|
| Dividends from net realized gain on <br> investments<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; (.28)<br>|
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.56)<br>|
| Net asset value, end of period | &nbsp;&nbsp;&nbsp;&nbsp;11.26 | &nbsp;&nbsp;&nbsp;&nbsp;11.05 | &nbsp;&nbsp;&nbsp;&nbsp;11.14 | &nbsp;&nbsp;&nbsp;&nbsp;10.76 | &nbsp;&nbsp;&nbsp;&nbsp;11.21 | &nbsp;&nbsp;&nbsp;&nbsp;13.08 |
| **Total Return (%)** | &nbsp;&nbsp;&nbsp;&nbsp; 3.70 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;2.71 | &nbsp;&nbsp;&nbsp;&nbsp;6.94 | &nbsp;&nbsp;&nbsp;&nbsp; (1.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (12.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .30 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |  |
| Ratio of total expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .84 <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .83 | &nbsp;&nbsp;&nbsp;&nbsp; .82 | &nbsp;&nbsp;&nbsp;&nbsp; .82 | &nbsp;&nbsp;&nbsp;&nbsp; .80 | &nbsp;&nbsp;&nbsp;&nbsp; .80 |
| Ratio of net expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .84 <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .83 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .82 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .82 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .80 | &nbsp;&nbsp;&nbsp;&nbsp; .80 |
| Ratio of net investment income to average <br> net assets<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.55 <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.59 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.37 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.66 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.82 | &nbsp;&nbsp;&nbsp;&nbsp;1.46 |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;&nbsp; 30.95 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;58.24 | &nbsp;&nbsp;&nbsp;&nbsp;56.80 | &nbsp;&nbsp;&nbsp;&nbsp;45.46 | &nbsp;&nbsp;&nbsp;&nbsp;88.66 | &nbsp;&nbsp;&nbsp;&nbsp;72.04 |
| **Net Assets, end of period ($ x 1,000)** | &nbsp;&nbsp;&nbsp;&nbsp; 9305 | &nbsp;&nbsp;&nbsp;&nbsp; 7369 | &nbsp;&nbsp;&nbsp;&nbsp; 9234 | &nbsp;&nbsp;&nbsp;&nbsp; 8800 | &nbsp;&nbsp;&nbsp;&nbsp; 10822 | &nbsp;&nbsp;&nbsp;&nbsp; 11286 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Not annualized.

<sup>(c)</sup> Annualized.

<sup>(d)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**13**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited)

**NOTE 1—**

**Significant Accounting Policies:**

BNY Mellon Bond Fund (the "fund") is a separate diversified series of BNY Mellon Funds Trust (the "Trust"), which is registered under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company and operates as a series company currently offering seven series, including the fund. The fund's investment objective 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 the fund's investment adviser. Effective October 1, 2025, the Adviser has engaged its affiliate, Insight North America LLC (the "Sub-Adviser"), an indirect wholly-owned subsidiary of BNY and an affiliate of the Adviser, to serve as the fund's sub-adviser.

The Bank of New York Mellon serves as administrator for the fund 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 the fund's shares, which are sold without a sales charge. The 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 of the Trust are allocated among them on a pro rata basis.

The Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") is the exclusive reference of authoritative U.S. generally accepted accounting principles ("GAAP") recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

The Trust enters into contracts that contain a variety of indemnifications. The fund's maximum exposure under these arrangements is unknown. The fund does not anticipate recognizing any loss related to these arrangements.

**(a) Portfolio valuation:** The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.

Various inputs are used in determining the value of the fund's investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:

**Level 1**—unadjusted quoted prices in active markets for identical investments.

**Level 2**—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

**Level 3**—significant unobservable inputs (including the fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund's investments are as follows:

Investments in debt securities and instruments generally will be valued, to the extent possible, by one or more independent pricing services (the "Service"). When, in the judgment of the Service, quoted bid prices for investments are readily available and are represen

**14**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

tative of the bid side of the market, these investments 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). The value of other debt securities and instruments is determined by the Service based on methods which include consideration of: 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 Trust's Board of Trustees (the "Board"). Overnight and certain other short-term debt securities and instruments (excluding Treasury bills) will be valued by the amortized cost method, which approximates value, unless a Service provides a valuation for such security or, in the opinion of the board or a committee or other persons designated by the Board, such as the Adviser, the amortized cost method would not represent fair value. These securities are generally categorized within Level 2 of the fair value hierarchy.

Investments in other open-end investment companies are valued at their reported net asset values ("NAVs") each day. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.

Restricted securities, as well as securities or other assets for which recent market quotations or official closing prices are not readily available or are determined not to reflect accurately fair value (such as when the value of a security has been materially affected by events occurring after the close of the exchange or market on which the security is principally traded, but before the fund calculates its NAV), or which are not valued by the Service, are valued at fair value as determined in good faith based on procedures approved by the Board. Fair value of investments is determined by the Adviser, as the fund's valuation designee pursuant to Rule 2a-5 under the Act, using such information as it deems appropriate under the circumstances. The factors that may be considered when fair valuing a security include fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. Using fair value to price investments may result in a value that is different from a security's most recent closing price and from the prices used by other mutual funds to calculate their NAVs. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

Futures contracts will be valued at the most recent settlement price and are generally categorized within Level 1 of the fair value hierarchy.

The following is a summary of the inputs used as of February 28, 2026 in valuing the 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** |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 4366415 | &nbsp;&nbsp; — | &nbsp;&nbsp; **4366415** |
| Commercial Mortgage-Backed | &nbsp;&nbsp; — | &nbsp;&nbsp; 10310222 | &nbsp;&nbsp; — | &nbsp;&nbsp; **10310222** |
| Corporate Bonds and Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 383966242 | &nbsp;&nbsp; — | &nbsp;&nbsp; **383966242** |
| Foreign Governmental | &nbsp;&nbsp; — | &nbsp;&nbsp; 9567073 | &nbsp;&nbsp; — | &nbsp;&nbsp; **9567073** |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 2625339 | &nbsp;&nbsp; — | &nbsp;&nbsp; **2625339** |
| U.S. Government Agencies Collateralized Municipal-Backed <br> Securities<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 3795911 | &nbsp;&nbsp; — | &nbsp;&nbsp; **3795911** |
| U.S. Government Agencies Mortgage-Backed | &nbsp;&nbsp; — | &nbsp;&nbsp; 284391635 | &nbsp;&nbsp; — | &nbsp;&nbsp; **284391635** |
| U.S. Treasury Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 505127491 | &nbsp;&nbsp; — | &nbsp;&nbsp; **505127491** |
| Investment Companies | &nbsp;&nbsp; 2241332 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **2241332** |
|  | &nbsp;&nbsp; **2241332** | &nbsp;&nbsp; **1204150328** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **1206391660** |
| Other Financial Instruments: |  |  |  |  |
| Futures<sup>††</sup> <br>| &nbsp;&nbsp; 68382 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **68382** |
|  | &nbsp;&nbsp; **68382** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **68382** |

---

**15**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (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** |
| **(continued)** |  |  |  |  |
| **Liabilities ($)** |  |  |  |  |
| Other Financial Instruments: |  |  |  |  |
| Futures<sup>††</sup> <br>| &nbsp;&nbsp; (176506) | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **(176506)** |
|  | &nbsp;&nbsp; **(176506)** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **(176506)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <sup>†</sup> <br>| See Schedule 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 Statement of Assets and Liabilities.<br>|

---

**(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 fund may lend securities to qualified institutions. It is the fund's policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral equivalent to at least 100% of the market value of securities on loan is maintained at all times. Collateral is either in the form of cash, which can be invested in certain money market mutual funds managed by the Adviser, or U.S. Government and Agency securities. Any non-cash collateral received cannot be sold or re-pledged by the fund, except in the event of borrower default, and is not reflected in the Statement of Assets and Liabilities. The securities on loan, if any, are also disclosed in the fund's Schedule of Investments. The fund is entitled to receive all dividends, interest and distributions on securities loaned, in addition to income earned as a result of the lending transaction. Should a borrower fail to return the securities in a timely manner, BNY is required to replace the securities for the benefit of the fund or credit the fund with the market value of the unreturned securities and is subrogated to the fund's rights against the borrower and the collateral. Additionally, the contractual maturity of security lending transactions are on an overnight and continuous basis. During the period ended February 28, 2026, BNY earned $9,877 from the lending of the fund's portfolio securities, pursuant to the securities lending agreement.

For financial reporting purposes, the fund elects not to offset assets and liabilities subject to a securities lending agreement, if any, in the Statement of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statement of Assets and Liabilities. As of February 28, 2026, the fund had securities lending and the impact of netting of assets and liabilities and the offsetting of collateral pledged or received, if any, based on contractual netting/set-off provisions in the securities lending agreement are detailed in the following table:

---

| | |
|:---|:---|
| **Assets ($)** |  |
| Gross amount of securities loaned, at <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; 132816927 |
| 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; (132816927 )<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;

---

| | |
|:---|:---|
| <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 Schedule 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 the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in

**16**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

financial markets and reduced liquidity in equity, credit and/or fixed-income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies world-wide. Local, regional or global events such as war, military conflicts, acts of terrorism, natural disasters, the spread of infectious illness or other public health issues, recessions, elevated levels of government debt, changes in trade regulation or economic sanctions, internal unrest and discord, or other events could have a significant impact on the fund and its investments.

**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 the 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., the fund may be subject to a greater risk of principal decline from rising interest rates. When interest rates fall, the fund's investments in new securities may be at lower yields and may reduce the 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.

**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 the fund does not apply to the market value of such security or to shares of the fund itself.

**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 fund redemption requests, including requests from shareholders who may own a significant percentage of the fund's shares, which may be triggered by market turmoil or an increase in interest rates, could cause the fund to sell its holdings at a loss or at undesirable prices and adversely affect the fund's share price and increase the 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.

**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

**17**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

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.

**(e) Dividends and distributions to shareholders:** Dividends and distributions are recorded on the ex-dividend date. Dividends from net investment income are normally declared and 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.

**(f) Federal income taxes:** It is the policy of the fund to continue to qualify as a regulated investment company, if such qualification is in the best interests of its shareholders, by complying with the applicable provisions of the Code, and to make distributions of taxable income and net realized capital gain sufficient to relieve it from substantially all federal income and excise taxes.

As of and during the period ended February 28, 2026, the fund did not have any liabilities for any uncertain tax positions. The fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During the period ended February 28, 2026, the fund did not incur any interest or penalties.

Each tax year in the three-year period ended August 31, 2025 remains subject to examination by the Internal Revenue Service and state taxing authorities.

The 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 fund has an unused capital loss carryover of $148,073,039 available for federal income tax purposes to be applied against future net realized capital gains, if any, realized subsequent to August 31, 2025. The fund has $51,663,355 of short-term capital losses and $96,409,684 of long-term capital losses which can be carried forward for an unlimited period.

The tax character of distributions paid to shareholders during the fiscal year ended August 31, 2025 was as follows: ordinary income $48,999,959. The tax character of current year distributions will be determined at the end of the current fiscal year.

**(g) Operating segment reporting:** In accordance with FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"), the fund has operated and been managed as a single reportable segment, generating returns through dividends, interest, and/or gains from investments aligned with its single stated investment objective as outlined in the fund's prospectus. The fund's accounting policies are consistent with those described in these Notes to Financial Statements. The chief operating decision maker ("CODM") is represented by BNY Investments and is comprised of Senior Management and Directors of BNY Investments. The CODM considers the net increase in net assets resulting from operations when deciding whether to purchase additional investments or make distributions to shareholders. Detailed financial information for the fund is presented in these financial statements, including total assets and liabilities in the Statement of Assets and Liabilities, investments held in the Schedule of Investments, results of operations and significant segment expenses in the Statement of Operations, and additional performance information—such as total return, portfolio turnover, and ratios—in the Financial Highlights.

**NOTE 2—**

**Bank Lines of Credit:**

The fund participates with other long-term open-end funds managed by the Adviser in a $738 million unsecured credit facility led by Citibank, N.A. (the "Citibank Credit Facility") and a $300 million unsecured credit facility provided by BNY (the "BNY Credit Facility"), each to be utilized primarily for temporary or emergency purposes, including the financing of redemptions (each, a "Facility"). The Citibank Credit Facility is available in two tranches: (i) Tranche A is in an amount equal to $618 million and is available to all long-term open-ended funds, including the fund, and (ii) Tranche B is an amount equal to $120 million and is available only to BNY Mellon Floating Rate Income Fund, a series of BNY Mellon Investment Funds IV, Inc. In connection therewith, the fund has agreed to pay its pro rata portion of commitment fees for Tranche A of the Citibank Credit Facility and the BNY Credit Facility. Interest is charged to the fund based on rates determined pursuant to the terms of the respective Facility at the time of borrowing. During the period ended February 28, 2026, the fund did not borrow under 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 computed at the annual rate of .40% of the value of the fund's average daily net assets and is payable monthly.

**18**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (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% |

---

Effective October 1, 2025, pursuant to a sub-investment advisory agreement between the Adviser and the Sub-Adviser, the Adviser pays the Sub-Adviser a monthly fee at an annual rate of .20% of the value of the fund's average daily net assets.

**(b)** Under the Shareholder Services Plan, Investor shares pay the Distributor at an annual rate of .25% of its average daily net assets for the provision of certain services. The services provided may include personal services relating to shareholder accounts, such as answering shareholder inquiries regarding the fund, and services related to the maintenance of shareholder accounts. The Distributor may make payments to Service Agents (securities dealers, financial institutions or other industry professionals) with respect to these services. The Distributor determines the amounts to be paid to Service Agents. During the period ended February 28, 2026, the fund was charged $11,640 pursuant to the Shareholder Services Plan.

The fund has an arrangement with BNY Mellon Transfer, Inc., (the "Transfer Agent"), a subsidiary of BNY and an affiliate of the Adviser, whereby the fund may receive earnings credits when positive cash balances are maintained, which are used to offset Transfer Agent fees. For financial reporting purposes, the fund includes transfer agent net earnings credits, if any, as an expense offset in the Statement of Operations.

The fund has an arrangement with The Bank of New York Mellon (the "Custodian"), a subsidiary of BNY and an affiliate of the Adviser, whereby the fund will receive interest income or be charged overdraft fees when cash balances are maintained. For financial reporting purposes, the fund includes this interest income and overdraft fees, if any, as interest income in the Statement of Operations.

The fund compensates the Transfer Agent, under a transfer agency agreement, for providing cash management services for the fund. The Transfer Agent fees are comprised of amounts paid on cash management fees which are related to fund subscriptions and redemptions. BNY pays the 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 February 28, 2026, there were no transfer agent cash management fees and earnings credits for the fund.

The fund compensates the Custodian, under a custody agreement, for providing custodial services for the fund. These fees are determined based on net assets, geographic region and transaction activity. During the period ended February 28, 2026, the fund was charged $8,544 pursuant to the custody agreement.

The fund compensates the Custodian, under a shareholder redemption draft processing agreement, for providing certain services related to the fund's check writing privilege. During the period ended February 28, 2026, the fund was charged $51 pursuant to the agreement, which is included in Shareholder servicing costs in the Statement of Operations.

During the period ended February 28, 2026, the fund was charged $15,059 for services performed by the fund's Chief Compliance Officer and his staff. These fees are included in Chief Compliance Officer fees in the Statement of Operations.

The fund compensates the Custodian for providing shareholder reporting and regulatory services for the fund. These fees are included in shareholder and regulatory reports service fees in the Statement of Operations. During the period ended February 28, 2026, the Custodian was compensated $9,000 for financial reporting and regulatory services.

The components of "Due to BNY Mellon Investment Adviser, Inc. and affiliates" in the Statement of Assets and Liabilities consist of: Management fee of $368,790, Administration fees of $138,296, Shareholder Services Plan fees of $1,755, Custodian fees of $7,500, Chief Compliance Officer fees of $5,361, Checkwriting fees of $20 and shareholder and regulatory reports service fees of $12,000.

**(c)** Each board member of the fund also serves as a board member of other funds in the BNY Mellon Family of Funds complex. Annual retainer fees and attendance fees are allocated to each fund based on net assets.

**NOTE 4—**

**Securities Transactions:**

The aggregate amount of purchases and sales (including paydowns) of investment securities, excluding short-term securities and derivatives, during the period ended February 28, 2026, amounted to $373,637,452 and $442,624,276, respectively.

**19**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

**Derivatives:** A derivative is a financial instrument whose performance is derived from the performance of another asset. Rule 18f-4 under the Act regulates the use of derivatives transactions for certain funds registered under the Act. Each type of derivative instrument that was held by the fund during the period ended February 28, 2026 is discussed below.

**Deposits with Broker:** The amount included in Cash collateral held by broker in the Statement of Asset and Liabilities represents cash balances that are held by a broker, including collateral required for derivative contracts. Any income earned on cash balances held by a broker is recorded as interest income to the fund.

**Futures:** In the normal course of pursuing its investment objective, the fund is exposed to market risk, including interest rate risk, as a result of changes in value of underlying financial instruments. The fund invests in futures in order to manage its exposure to or protect against changes in the market. A futures contract represents a commitment for the future purchase or a sale of an asset at a specified date. Upon entering into such contracts, these investments require initial margin deposits with a counterparty, which consist of cash or cash equivalents. The amount of these deposits is determined by the exchange or Board of Trade on which the contract is traded and is subject to change. Accordingly, variation margin payments are received or made to reflect daily unrealized gains or losses which are recorded in the Statement of Operations. When the contracts are closed, the fund recognizes a realized gain or loss which is reflected in the Statement of Operations. There is minimal counterparty credit risk to the fund with futures since they are exchange traded, and the exchange guarantees the futures against default. Futures open at February 28, 2026 are set forth in the fund's Schedule of Investments.

The following tables show the fund's exposure to different types of market risk as it relates to the Statement of Assets and Liabilities and the Statement of Operations, respectively.

Fair value of derivative instruments as of February 28, 2026 is shown below:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; **Derivative** <br>**Assets ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Derivative** <br>**Liabilities ($)**<br>|
| Interest Rate Risk | &nbsp;&nbsp;&nbsp;&nbsp; 68382 <br><sup>(1)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (176506 )<sup>(1)</sup><br>|
| **Gross fair value of derivative contracts** | &nbsp;&nbsp;&nbsp;&nbsp; **68382** | &nbsp;&nbsp;&nbsp;&nbsp; **(176506)**<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 Schedule of Investments, but only the unpaid variation margin is reported in the <br> Statement of Assets and Liabilities.<br>|

---

The effect of derivative instruments in the Statement of Operations during the period ended February 28, 2026 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 ($) |
| **Underlying risk** | **Futures**<sup>(1)</sup> <br>| **Total** |
| Interest Rate | &nbsp;&nbsp;&nbsp;&nbsp; (175783) | &nbsp;&nbsp;&nbsp;&nbsp; **(175783)** |
| **Total** | &nbsp;&nbsp;&nbsp;&nbsp; **(175783)** | &nbsp;&nbsp;&nbsp;&nbsp; **(175783)** |

---

&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>(2)</sup> <br>| **Total** |
| Interest Rate | &nbsp;&nbsp;&nbsp;&nbsp; (108124) | &nbsp;&nbsp;&nbsp;&nbsp; **(108124)** |
| **Total** | &nbsp;&nbsp;&nbsp;&nbsp; **(108124)** | &nbsp;&nbsp;&nbsp;&nbsp; **(108124)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Statement of Operations location: <br> <sup>(1)</sup> Net realized gain (loss) on futures. <br> <sup>(2)</sup> Net change in unrealized appreciation (depreciation) on futures.

**20**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

The following table summarizes the monthly average market value of derivatives outstanding during the period ended February 28, 2026:

---

| | |
|:---|:---|
|  | Average Market Value ($) |
| **Futures:** |  |
| Interest Rate Futures Long | &nbsp;&nbsp; 6594459 |
| Interest Rate Futures Short | &nbsp;&nbsp; 4260145 |

---

At February 28, 2026, accumulated net unrealized appreciation on investments inclusive of derivative contracts was $148,854, consisting of $28,363,310 gross unrealized appreciation and $28,214,456 gross unrealized depreciation.

At February 28, 2026, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Schedule of Investments).

**21**

------

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies (Unaudited)

N/A

**22**

------

Item 9. Proxy Disclosures for Open-End Management Investment Companies (Unaudited)

N/A

**23**

------

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies (Unaudited)

Each board member also serves as a board member of other funds in the BNY Mellon Family of Funds complex, and annual retainer fees and meeting attendance fees are allocated to each fund based on net assets. The fund is charged for services performed by the fund's Chief Compliance Officer. Compensation paid by the fund during the period to the board members and the Chief Compliance Officer are within Item 7. Statement 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 the fund during the period was $124,752.

**24**

------

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 September 15-16, 2025 (the "September Meeting"), the Board discussed with representatives of the Adviser the realignment of certain internal investment personnel, whereby certain primary portfolio managers of the funds who are employees of the Adviser and BNY Wealth would become employees of Insight North America LLC ("INA"), an affiliate of the Adviser and BNY Wealth, and would no longer be employees of BNYIA or BNY Wealth (the "Realignment"), with the Realignment scheduled to occur on or about October 1, 2025 (the "Effective Date"). In connection with the Realignment, management of the Adviser and BNY Wealth recommended that the primary portfolio manager responsible for managing the investments of BNY Mellon Bond Fund and BNY Mellon Massachusetts Intermediate Municipal Bond Fund and the fixed-income investments portion of BNY Mellon Asset Allocation Fund continue to manage the respective fund's portfolio albeit as an employee of INA. Consequently, the Adviser proposed to engage INA to serve as each fund's sub-investment adviser, pursuant to a sub-investment advisory agreement between the Adviser and INA (the "Sub-Advisory Agreement"), to be effective on the Effective Date. In addition, the Adviser proposed revising the Trust's Investment Advisory Agreement to reflect the engagement of INA as sub-investment adviser to each fund (as revised, the "Revised Investment Advisory Agreement" and, together with the Sub-Advisory Agreement, the "Agreements"), to be effective on the Effective Date.

At the September Meeting, the Adviser recommended the approval of the Sub-Advisory Agreement, pursuant to which INA would serve as sub-investment adviser to each fund, and the Revised Investment Advisory Agreement. As to each fund, the recommendation for the approval of the Sub-Advisory Agreement and the Revised Investment Advisory Agreement was based on the following considerations, among others: (i) approval of the Agreements would permit the fund's current portfolio manager to continue to be responsible for the day-to-day management of the fund's portfolio after the Effective Date as employees of INA; (ii) there will be no material changes to the fund's investment objective, strategies or policies, no reduction in the nature or level of services provided to the fund, and no increases in the management fee payable by the fund as a result of the proposed changes to the investment advisory arrangements; and (iii) the Adviser (and not the fund) will pay INA for its sub-investment advisory services. The Adviser also confirmed that the appointment of INA as the funds' sub-investment adviser and the adoption of the Sub-Advisory Agreement would not require the approval of the funds' shareholders under the 1940 Act or the Investment Advisers Act of 1940, as amended. The Board also considered the fact that the Adviser stated that it believes there are no material changes to the information the Board had previously considered during the meeting of the Board held on March 24-25, 2025 (the "March Meeting")in connection with the annual contract renewal process (the "15(c) Process"), at which the Board re-approved the Trust's Investment Advisory Agreement for the ensuing year, other than the information about the Realignment and INA.

At the September Meeting, the Independent Trustees were assisted in their review by independent legal counsel and met with counsel in executive session separate from representatives of the Adviser and INA. Since the Board had renewed the Trust's Investment Advisory Agreement as part of the 15(c) Process, and, other than as discussed below, there had been no material changes in the information presented, the Board addressed certain of the relevant considerations by reference to their considerations and determinations during the 15(c) Process portion of the March Meeting. In considering approval 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.

At the September Meeting, the Board considered and approved the Sub-Advisory Agreement and the Revised Investment Advisory Agreement. In determining whether to approve the Sub-Advisory Agreement and the Revised Investment Advisory Agreement, the Board considered the materials prepared by the Adviser received in advance of the September Meeting and other information presented at the September Meeting, which included: (i) a form of the Sub-Advisory Agreement and a form of the Revised Investment Advisory Agreement; (ii) information regarding the Realignment and how it is expected to enhance investment capabilities; (iii) information regarding INA; (iv) information regarding the level of the sub-investment advisory fee to be charged by INA; (v) information regarding INA's compliance program; and (vi) an opinion of counsel that the proposed changes to the investment advisory arrangements would not result in an "assignment" of the Investment Advisory Agreement under the 1940 Act and the Investment Advisers Act of 1940, as amended, and, therefore, do not require the approval of fund shareholders. The Board also considered the substance of discussions with representatives of the Adviser at the September Meeting and in connection with the 15(c) Process at the March Meeting.

<u>Nature, Extent and Quality of Services to be Provided.</u> As to each fund, in examining the nature, extent and quality of the services that were expected to be provided by INA to the fund under the Sub-Advisory Agreement, the Board considered: (i) INA's organization, history, reputation, qualification and background, as well as the qualifications of its personnel; (ii) the expertise of the personnel

**25**

------

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited) (continued)

providing portfolio management services which would remain the same after the Effective Date; and (iii) the investment strategy for the fund, which would remain the same after the Effective Date. The Board also considered the review process undertaken by the Adviser and the Adviser's favorable assessment of the nature and quality of the sub-investment advisory services expected to be provided to the fund by INA after the Effective Date. Based on their consideration and review of the foregoing information, the Trustees concluded that the nature, extent and quality of the sub-investment advisory services to be provided by INA under the Sub-Advisory Agreement, as well as INA's ability to render such services based on its resources and the experience of the investment team, which will include the fund's current portfolio manager, were adequate and appropriate for the fund in light of the fund's investment objective, and supported a decision to approve the Sub-Advisory Agreement. The Board also considered, as it related to the Revised Investment Advisory Agreement, the Adviser's extensive administrative, accounting and compliance infrastructures, as well as the Adviser's supervisory activities over the fund's portfolio management personnel, and the Adviser's representation that there will be no reduction in the nature, extent or quality of services provided to the fund as a result of the proposed changes to the fund's investment advisory arrangements.

<u>Investment Performance.</u> The Board had considered each fund's investment performance and that of the investment team managing the fund's portfolio as part of the 15(c) Process of the March Meeting (including comparative data provided by Broadridge Financial Solutions, Inc.). The Board considered the performance and that the same investment professionals would continue to manage the fund's assets after the Effective Date, as factors in evaluating the services to be provided by INA under the Sub-Advisory Agreement after the Effective Date, and determined that these factors, when viewed together with the other factors considered by the Board, supported a decision to approve the Sub-Advisory Agreement and the Revised Investment Advisory Agreement.

<u>Costs of Services to be Provided and Profitability.</u> As to each fund, the Board considered the proposed fee payable under the Sub-Advisory Agreement, noting that the fee would be paid by the Adviser and, thus, would not impact the fees paid by the fund. The Board considered the fee payable to INA in relation to the fee paid to the Adviser by the fund and the respective services provided by INA and the Adviser. The Board recognized that, because INA's fee would be paid by the Adviser, and not the fund, an analysis of profitability was more appropriate in the context of the Board's consideration of the Trust's Investment Advisory Agreement, and that the Board had received and considered a profitability analysis of the Adviser and its affiliates, including INA, during the 15(c) Process portion of the March Meeting. The Board concluded that the proposed fee payable to INA by the Adviser was appropriate and the Adviser's profitability was not excessive in light of the nature, extent and quality of the services to be provided to each fund by the Adviser under the Revised Investment Advisory Agreement and INA under the Sub-Advisory Agreement.

<u>Economies of Scale to be Realized.</u> As to each fund, the Board recognized that, because the fee payable to INA would be paid by the Adviser, and not the fund, an analysis of economies of scale was more appropriate in the context of the Board's consideration of the Trust's Investment Advisory Agreement, which had been done during the 15(c) Process portion of the March Meeting. At that time, the Board determined that the economies of scale which may accrue to the Adviser and its affiliates in connection with the management of the fund had been adequately considered by the Adviser in connection with the fee rate charged to the fund pursuant to the Trust's Investment Advisory 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.

The Board also considered whether there were any ancillary benefits that would accrue to INA as a result of its relationship with the funds, and such ancillary benefits, if any, were determined to be reasonable.

In considering the materials and information described above, the Independent Trustees received assistance from, and met separately with, their independent legal counsel, and were provided with a written description of their statutory responsibilities and the legal standards that are applicable to the approval of investment advisory and sub-investment advisory agreements.

After full consideration of the factors discussed above, with no single factor identified as being of paramount importance, as to each fund, the Board members, all of whom are Independent Trustees, with the assistance of independent legal counsel, approved the Sub-Advisory Agreement and Revised Investment Advisory Agreement for the fund effective as of the Effective Date.

**26**

------© 2026 BNY Mellon Securities Corporation

Code-0961NCSRSA0226

![](img7552b5a91.gif)

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BNY Mellon Massachusetts Intermediate Municipal Bond Fund

**SEMI-ANNUAL FINANCIALS AND OTHER INFORMATION**

February 28, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Class** | **Ticker** |
| M | MMBMX |
| Investor | MMBIX |

---

![](img27f83fd01.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 Fund

Please note the Semi-Annual Financials and Other Information only contains Items 7-11 required in Form N-CSR. All other required items will be filed with the Securities and Exchange Commission (the "SEC").

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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_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_SOI-Commoncontent-4711_1)**<br> **[Investment Companies](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_SOI-Commoncontent-4711_1)**<br>| 3 |
| [Schedule of Investments](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_SOI-Commoncontent-4711_1) | 3 |
| [Statement of Assets and Liabilities](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_FS-Commoncontent-4711_1) | 7 |
| [Statement of Operations](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_FS-Commoncontent-4711_2) | 8 |
| [Statement of Changes in Net Assets](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_FS-Commoncontent-4711_3) | 9 |
| [Financial Highlights](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_FIHI-Commoncontent-4711_1) | 10 |
| [Notes to Financial Statements](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_NTF-Commoncontent-4711_1) | 12 |
| **[Item 8. Changes in and Disagreements with Accountants for Open-End Management](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_CDA-Commoncontent-4711_1)**<br> **[Investment Companies](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_CDA-Commoncontent-4711_1)**<br>| 17 |
| **[Item 9. Proxy Disclosures for Open-End Management Investment Companies](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_PRXD-Commoncontent-4711_1)** | 18 |
| **[Item 10. Remuneration Paid to Directors, Officers, and Other of Open-End](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_RMNP-Commoncontent-4711_1)**<br> **[Management Investment Companies](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_RMNP-Commoncontent-4711_1)**<br>| 19 |
| **[Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts](#xx_e03f39a2-0c28-4d5c-b79f-2d0b6c13d975_AAA-Commoncontent-4711_1)** | 20 |

---

------

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

BNY Mellon Massachusetts Intermediate Municipal Bond Fund

SCHEDULE OF INVESTMENTS

February 28, 2026 (Unaudited)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 97.7%** | **Long-Term Municipal Investments — 97.7%** | **Long-Term Municipal Investments — 97.7%** | **Long-Term Municipal Investments — 97.7%** | **Long-Term Municipal Investments — 97.7%** |
| **Alabama — 4.3%** | **Alabama — 4.3%** | **Alabama — 4.3%** | **Alabama — 4.3%** | **Alabama — 4.3%** |
| Southeast Energy Authority A Cooperative District, Revenue Bonds, Ser. B<sup>(a)</sup> <br>| 5.25 | 6/1/2032 | 2500000 | 2762180 |
| Southeast Energy Authority A Cooperative District, Revenue Bonds, Ser. E | 5.00 | 10/1/2030 | 2000000 | 2180752 |
|  |  |  |  | **4942932** |
| **California — 2.2%** | **California — 2.2%** | **California — 2.2%** | **California — 2.2%** | **California — 2.2%** |
| California Community Choice Financing Authority, Revenue Bonds (Clean Energy <br> Project) Ser. A1<sup>(a)</sup> <br>| 5.00 | 2/1/2036 | 1000000 | 1110679 |
| California Community Choice Financing Authority, Revenue Bonds (Sustainable <br> Bond) Ser. F<br>| 5.00 | 11/1/2033 | 1250000 | 1384430 |
|  |  |  |  | **2495109** |
| **Georgia — 2.4%** | **Georgia — 2.4%** | **Georgia — 2.4%** | **Georgia — 2.4%** | **Georgia — 2.4%** |
| Main Street Natural Gas, Inc., Revenue Bonds, Ser. C<sup>(a)</sup> <br>| 5.00 | 12/1/2031 | 2500000 | **2721692** |
| **Illinois — 1.9%** | **Illinois — 1.9%** | **Illinois — 1.9%** | **Illinois — 1.9%** | **Illinois — 1.9%** |
| Chicago Park District, GO, Refunding, Ser. C | 4.00 | 1/1/2036 | 2100000 | **2151072** |
| **Massachusetts — 80.5%** | **Massachusetts — 80.5%** | **Massachusetts — 80.5%** | **Massachusetts — 80.5%** | **Massachusetts — 80.5%** |
| Boston, GO, Ser. A | 3.00 | 11/1/2034 | 1535000 | 1545970 |
| Boston, GO, Ser. A | 5.00 | 11/1/2042 | 1000000 | 1134513 |
| Concord, GO | 4.00 | 1/15/2043 | 1000000 | 1026589 |
| Easton, GO, Refunding | 4.00 | 2/1/2042 | 500000 | 516274 |
| Gloucester, GO, Refunding | 3.00 | 9/15/2033 | 725000 | 731376 |
| Groton, GO | 3.00 | 8/15/2033 | 390000 | 392085 |
| Hingham, GO | 3.00 | 2/15/2034 | 1240000 | 1244900 |
| Lowell Collegiate Charter School, Revenue Bonds | 5.00 | 6/15/2029 | 400000 | 401594 |
| Lowell Collegiate Charter School, Revenue Bonds | 5.00 | 6/15/2039 | 1330000 | 1332268 |
| Massachusetts, GO, Ser. A | 3.00 | 2/1/2037 | 2000000 | 1987706 |
| Massachusetts, GO, Ser. A | 5.00 | 5/1/2041 | 500000 | 561148 |
| Massachusetts, GO, Ser. C | 5.00 | 10/1/2052 | 1250000 | 1301143 |
| Massachusetts, GO, Refunding, Ser. B | 5.00 | 5/1/2037 | 1000000 | 1156259 |
| Massachusetts, GO, Refunding, Ser. B | 5.00 | 6/1/2041 | 610000 | 703402 |
| Massachusetts, GO, Refunding, Ser. D | 4.00 | 11/1/2035 | 2500000 | 2645623 |
| Massachusetts Bay Transportation Authority, Revenue Bonds (Sustainable Bond) <br> Ser. A<br>| 5.00 | 7/1/2038 | 600000 | 689996 |
| Massachusetts Bay Transportation Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2037 | 1000000 | 1175947 |
| Massachusetts Clean Water Trust, Revenue Bonds, Ser. 25B | 5.00 | 2/1/2041 | 1000000 | 1120461 |
| Massachusetts Development Finance Agency, Revenue Bonds (Beth Israel Lahey <br> Health Obligated Group) Ser. M<br>| 5.00 | 7/1/2034 | 2000000 | 2317819 |
| Massachusetts Development Finance Agency, Revenue Bonds (Dana-Farber <br> Cancer Institute Obligated Group) Ser. N<br>| 5.00 | 12/1/2033 | 1000000 | 1017200 |
| Massachusetts Development Finance Agency, Revenue Bonds (Emerson College) | 5.00 | 1/1/2031 | 325000 | 335623 |
| Massachusetts Development Finance Agency, Revenue Bonds (Emerson College) | 5.00 | 1/1/2032 | 340000 | 350698 |
| Massachusetts Development Finance Agency, Revenue Bonds, Ser. A<sup>(a)</sup> <br>| 5.00 | 11/1/2035 | 1180000 | 1427630 |
| Massachusetts Development Finance Agency, Revenue Bonds, Ser. A1<sup>(a)</sup> <br>| 5.00 | 1/31/2030 | 1000000 | 1090844 |
| Massachusetts Development Finance Agency, Revenue Bonds, Ser. F | 5.00 | 7/1/2041 | 1225000 | 1402591 |
| Massachusetts Development Finance Agency, Revenue Bonds, Ser. T | 5.00 | 3/1/2034 | 2125000 | 2527514 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding | 5.00 | 7/1/2037 | 1600000 | 1617473 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Bentley University) Ser. A<br>| 4.00 | 7/1/2036 | 825000 | 861732 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Boston <br> University) Ser. B1<br>| 5.00 | 10/1/2040 | 1700000 | 1947008 |

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**3**

------

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** |
| **Massachusetts — 80.5% (continued)** | **Massachusetts — 80.5% (continued)** | **Massachusetts — 80.5% (continued)** | **Massachusetts — 80.5% (continued)** | **Massachusetts — 80.5% (continued)** |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Caregroup) Ser. I<br>| 5.00 | 7/1/2029 | 2000000 | 2017137 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Emerson College) Ser. A<br>| 5.00 | 1/1/2033 | 1250000 | 1287157 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Emmanuel College) Ser. A<br>| 5.00 | 10/1/2030 | 1000000 | 1006085 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Emmanuel College) Ser. A<br>| 5.00 | 10/1/2043 | 1000000 | 997673 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Fisher <br> College)<br>| 5.00 | 4/1/2032 | 370000 | 375828 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Fisher <br> College)<br>| 5.00 | 4/1/2033 | 390000 | 395642 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Olin <br> College) Ser. F<br>| 5.00 | 11/1/2037 | 725000 | 826949 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (Olin <br> College) Ser. F<br>| 5.00 | 11/1/2038 | 755000 | 855675 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Partners Healthcare System)<br>| 4.00 | 7/1/2036 | 2480000 | 2515474 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Partners Healthcare System)<br>| 5.00 | 7/1/2037 | 705000 | 731949 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (SABIS <br> International Charter School)<br>| 5.00 | 4/15/2033 | 1500000 | 1500679 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (SABIS <br> International Charter School)<br>| 5.00 | 4/15/2040 | 1730000 | 1730180 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (South <br> Shore Hospital Obligated Group) Ser. I<br>| 5.00 | 7/1/2028 | 750000 | 753390 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (UMass <br> Memorial Health Care Obligated Group)<br>| 5.00 | 7/1/2036 | 1340000 | 1347444 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding (UMass <br> Memorial Health Care Obligated Group) Ser. N1<br>| 5.00 | 7/1/2032 | 940000 | 1060949 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Western New England University)<br>| 5.00 | 9/1/2033 | 500000 | 513096 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Western New England University)<br>| 5.00 | 9/1/2035 | 1000000 | 1000652 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding <br> (Western New England University)<br>| 5.00 | 9/1/2040 | 1500000 | 1500343 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. <br> A1<sup>(a)</sup> <br>| 5.00 | 5/13/2032 | 750000 | 866377 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. B | 4.00 | 2/15/2036 | 2000000 | 2250265 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. G | 5.00 | 7/1/2032 | 515000 | 570738 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. G | 5.00 | 7/1/2035 | 400000 | 437594 |
| Massachusetts Development Finance Agency, Revenue Bonds, Refunding, Ser. G | 5.00 | 7/1/2036 | 450000 | 489535 |
| Massachusetts Development Finance Agency, Revenue Bonds (Sustainable Bond) <br> (Equitable School Revolving Fund Obligated Group) Ser. C<br>| 4.00 | 11/1/2046 | 500000 | 470312 |
| Massachusetts Educational Financing Authority, Revenue Bonds, Refunding, Ser. <br> B<br>| 5.00 | 7/1/2030 | 2230000 | 2405829 |
| Massachusetts Health & Educational Facilities Authority, Revenue Bonds, <br> Refunding (Amherst College) Ser. J1<br>| 5.00 | 11/1/2035 | 1000000 | 1223714 |
| Massachusetts Housing Finance Agency, Revenue Bonds (Sustainable Bond) <br> (Insured; Federal Housing Administration) Ser. A1<br>| 2.55 | 12/1/2040 | 1500000 | 1261689 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Ser. B3 | 3.50 | 6/1/2029 | 2395000 | 2433037 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Ser. F | 2.95 | 12/1/2032 | 1000000 | 999754 |

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**4**

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| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** |
| **Massachusetts — 80.5% (continued)** | **Massachusetts — 80.5% (continued)** | **Massachusetts — 80.5% (continued)** | **Massachusetts — 80.5% (continued)** | **Massachusetts — 80.5% (continued)** |
| Massachusetts Housing Finance Agency, Revenue Bonds, Refunding (Sustainable <br> Bond) Ser. 221<br>| 3.00 | 12/1/2050 | 1035000 | 1029044 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Refunding, Ser. 183 | 3.50 | 12/1/2046 | 60000 | 60021 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Refunding, Ser. 207 | 4.00 | 6/1/2049 | 1025000 | 1036380 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Refunding, Ser. 211 | 3.50 | 12/1/2049 | 325000 | 326143 |
| Massachusetts Housing Finance Agency, Revenue Bonds, Refunding (Sustainable <br> Bond) (Insured; GNMA, FNMA, FHLMC) Ser. 220<br>| 3.00 | 12/1/2050 | 1240000 | 1233392 |
| Massachusetts Municipal Wholesale Electric Co., Revenue Bonds (Sustainable <br> Bond) Ser. A<br>| 5.00 | 7/1/2039 | 250000 | 280928 |
| Massachusetts Municipal Wholesale Electric Co., Revenue Bonds (Sustainable <br> Bond) Ser. A<br>| 5.00 | 7/1/2041 | 300000 | 333535 |
| Massachusetts Port Authority, Revenue Bonds (Sustainable Bond) Ser. A | 5.00 | 7/1/2034 | 1500000 | 1684184 |
| Massachusetts Port Authority, Revenue Bonds, Refunding (Bosfuel Project) Ser. A | 5.00 | 7/1/2029 | 1000000 | 1077802 |
| Massachusetts Port Authority, Revenue Bonds, Refunding (Bosfuel Project) Ser. A | 5.00 | 7/1/2032 | 865000 | 926521 |
| Massachusetts Port Authority, Revenue Bonds, Refunding (Bosfuel Project) Ser. A | 5.00 | 7/1/2035 | 500000 | 531384 |
| Massachusetts Port Authority, Revenue Bonds, Refunding, Ser. A | 5.00 | 7/1/2028 | 2000000 | 2110774 |
| Massachusetts Port Authority, Revenue Bonds, Refunding, Ser. C | 5.00 | 7/1/2030 | 1635000 | 1760342 |
| Massachusetts Transportation Fund, Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2039 | 750000 | 881359 |
| Massachusetts Transportation Fund, Revenue Bonds, Refunding, Ser. A | 5.00 | 6/1/2042 | 750000 | 823433 |
| Middleborough, GO, Refunding | 3.00 | 10/1/2034 | 1455000 | 1461013 |
| Newton, GO | 4.00 | 8/15/2043 | 680000 | 701679 |
| Rockland, GO, Refunding | 3.00 | 10/1/2032 | 1000000 | 1009819 |
| Sharon, GO | 3.00 | 2/15/2033 | 1750000 | 1759795 |
| Somerville, GO, Refunding | 3.00 | 6/1/2035 | 1125000 | 1131480 |
| Waltham, GO | 3.00 | 10/15/2032 | 910000 | 914856 |
| Winchester, GO, Refunding | 4.00 | 3/15/2038 | 1065000 | 1133047 |
| Worcester, GO, Refunding (Insured; Assured Guaranty Corp.) | 2.00 | 2/15/2033 | 2000000 | 1889228 |
|  |  |  |  | **92484691** |
| **New York — 2.2%** | **New York — 2.2%** | **New York — 2.2%** | **New York — 2.2%** | **New York — 2.2%** |
| New York Liberty Development Corp., Revenue Bonds, Refunding (Bank of <br> America Tower)<br>| 2.63 | 9/15/2069 | 2675000 | **2534444** |
| **U.S. Related — 4.2%** | **U.S. Related — 4.2%** | **U.S. Related — 4.2%** | **U.S. Related — 4.2%** | **U.S. Related — 4.2%** |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2031 | 100000 | 109807 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2034 | 100000 | 112665 |
| Antonio B. Won Pat International Airport Authority, Revenue Bonds, Ser. B | 5.00 | 10/1/2038 | 125000 | 137841 |
| Guam, Revenue Bonds, Refunding, Ser. G | 5.00 | 1/1/2031 | 1000000 | 1094645 |
| Guam Government Waterworks Authority, Revenue Bonds, Ser. A | 5.00 | 7/1/2038 | 1020000 | 1141585 |
| Guam Government Waterworks Authority, Revenue Bonds, Ser. A | 5.25 | 7/1/2039 | 1000000 | 1132770 |
| Puerto Rico, Notes<sup>(b)</sup> <br>| 2.28 | 11/1/2051 | 396441 | 245298 |
| 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 | 317483 |

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**5**

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SCHEDULE OF INVESTMENTS (Unaudited) (continued)

------

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| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<br>| Value ($) |
| **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** | **Long-Term Municipal Investments — 97.7% (continued)** |
| **U.S. Related — 4.2% (continued)** | **U.S. Related — 4.2% (continued)** | **U.S. Related — 4.2% (continued)** | **U.S. Related — 4.2% (continued)** | **U.S. Related — 4.2% (continued)** |
| 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 | 271217 |
| 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 | 302299 |
|  |  |  |  | **4865610** |
| **Total Investments** (cost $111,921,285) | **Total Investments** (cost $111,921,285) |  | **97.7%** | **112195550** |
| **Cash and Receivables (Net)** | **Cash and Receivables (Net)** |  | **2.3%** | **2676094** |
| **Net Assets**  | **Net Assets**  | **Net Assets**  | **100.0%** | **114871644** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| |
|:---|
| FHLMC—Federal Home Loan Mortgage Corporation |
| FNMA—Federal National Mortgage Association |
| GNMA—Government National Mortgage Association |
| GO—Government Obligation |

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&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.

**6**

------

STATEMENT OF ASSETS AND LIABILITIES

February 28, 2026 (Unaudited)

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| | | |
|:---|:---|:---|
|  | Cost | Value |
| **Assets ($):** |  |  |
| Investments in securities—See Schedule of Investments | 111921285 | &nbsp;&nbsp;&nbsp;&nbsp; 112195550 |
| Cash |  | &nbsp;&nbsp;&nbsp;&nbsp; 1357663 |
| Interest receivable |  | &nbsp;&nbsp;&nbsp;&nbsp; 1209934 |
| Receivable for shares of Beneficial Interest subscribed |  | &nbsp;&nbsp;&nbsp;&nbsp; 208000 |
| Prepaid expenses |  | &nbsp;&nbsp;&nbsp;&nbsp; 16880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; **114988027** |
| **Liabilities ($):** |  |  |
| Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(b)  |  | &nbsp;&nbsp;&nbsp;&nbsp; 64273 |
| Payable for shares of Beneficial Interest redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; 6392 |
| Trustees' fees and expenses payable |  | &nbsp;&nbsp;&nbsp;&nbsp; 5108 |
| Other accrued expenses |  | &nbsp;&nbsp;&nbsp;&nbsp; 40610 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; **116383** |
| **Net Assets ($)** |  | &nbsp;&nbsp;&nbsp;&nbsp; **114871644** |
| **Composition of Net Assets ($):** |  |  |
| Paid-in capital |  | &nbsp;&nbsp;&nbsp;&nbsp; 122393563 |
| Total distributable earnings (loss) |  | &nbsp;&nbsp;&nbsp;&nbsp; (7521919)<br>|
| **Net Assets ($)** |  | &nbsp;&nbsp;&nbsp;&nbsp; **114871644** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Net Asset Value Per Share** | Class M | Investor Shares |
| Net Assets ($) | &nbsp;&nbsp;&nbsp;&nbsp; 105867388 | &nbsp;&nbsp;&nbsp;&nbsp; 9004256 |
| Shares Outstanding | &nbsp;&nbsp;&nbsp;&nbsp; 8359737 | &nbsp;&nbsp;&nbsp;&nbsp; 711431 |
| **Net Asset Value Per Share ($)** | &nbsp;&nbsp;&nbsp;&nbsp;**12.66** | &nbsp;&nbsp;&nbsp;&nbsp;**12.66** |

---

See notes to financial statements.

**7**

------

STATEMENT OF OPERATIONS

Six Months Ended February 28, 2026 (Unaudited)

---

| | |
|:---|:---|
| **Investment Income ($):** |  |
| **Interest Income** | &nbsp;&nbsp;&nbsp;&nbsp; **1847288** |
| **Expenses:** |  |
| Management fee—Note 3(a)  | &nbsp;&nbsp;&nbsp;&nbsp; 206252 |
| Administration fee—Note 3(a)  | &nbsp;&nbsp;&nbsp;&nbsp; 85546 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp; 25761 |
| Registration fees | &nbsp;&nbsp;&nbsp;&nbsp; 15865 |
| Chief Compliance Officer fees—Note 3(b)  | &nbsp;&nbsp;&nbsp;&nbsp; 15059 |
| Shareholder servicing costs—Note 3(b)  | &nbsp;&nbsp;&nbsp;&nbsp; 10578 |
| Trustees' fees and expenses—Note 3(c)  | &nbsp;&nbsp;&nbsp;&nbsp; 10536 |
| Shareholder and regulatory reports service fees—Note 3(b)  | &nbsp;&nbsp;&nbsp;&nbsp; 9000 |
| Prospectus and shareholders' reports | &nbsp;&nbsp;&nbsp;&nbsp; 4763 |
| Loan commitment fees—Note 2  | &nbsp;&nbsp;&nbsp;&nbsp; 1256 |
| Custodian fees—Note 3(b)  | &nbsp;&nbsp;&nbsp;&nbsp; 1011 |
| Miscellaneous | &nbsp;&nbsp;&nbsp;&nbsp; 6803 |
| **Total Expenses** | &nbsp;&nbsp;&nbsp;&nbsp; **392430** |
| Less—reduction in fees due to earnings credits—Note 3(b)  | &nbsp;&nbsp;&nbsp;&nbsp; (911)<br>|
| **Net Expenses** | &nbsp;&nbsp;&nbsp;&nbsp; **391519** |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp; **1455769** |
| **Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):** |  |
| Net realized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp; (98282)<br>|
| Net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp;&nbsp;&nbsp; 4546211 |
| **Net Realized and Unrealized Gain (Loss) on Investments** | &nbsp;&nbsp;&nbsp;&nbsp; **4447929** |
| **Net Increase in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp; **5903698** |

---

See notes to financial statements.

**8**

------

STATEMENT OF CHANGES IN NET ASSETS

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; Year Ended <br>August 31, 2025 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited) | &nbsp;&nbsp;&nbsp;&nbsp; Year Ended <br>August 31, 2025 |
| **Operations ($):** |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp; 1455769 | &nbsp;&nbsp;&nbsp;&nbsp; 3239549 |
| Net realized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp; (98282) | &nbsp;&nbsp;&nbsp;&nbsp; (768399) |
| Net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp;&nbsp;&nbsp; 4546211 | &nbsp;&nbsp;&nbsp;&nbsp; (1009951) |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp; **5903698** | &nbsp;&nbsp;&nbsp;&nbsp; **1461199** |
| **Distributions ($):** |  |  |
| Distributions to shareholders: |  |  |
| Class M | &nbsp;&nbsp;&nbsp;&nbsp; (1350805) | &nbsp;&nbsp;&nbsp;&nbsp; (3055183) |
| Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp; (93377) | &nbsp;&nbsp;&nbsp;&nbsp; (168574) |
| **Total Distributions** | &nbsp;&nbsp;&nbsp;&nbsp; **(1444182)** | &nbsp;&nbsp;&nbsp;&nbsp; **(3223757)** |
| **Beneficial Interest Transactions ($):** |  |  |
| Net proceeds from shares sold: |  |  |
| Class M | &nbsp;&nbsp;&nbsp;&nbsp; 5465376 | &nbsp;&nbsp;&nbsp;&nbsp; 31555394 |
| Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp; 4084042 | &nbsp;&nbsp;&nbsp;&nbsp; 3447924 |
| Distributions reinvested: |  |  |
| Class M | &nbsp;&nbsp;&nbsp;&nbsp; 92046 | &nbsp;&nbsp;&nbsp;&nbsp; 224791 |
| Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp; 72446 | &nbsp;&nbsp;&nbsp;&nbsp; 126752 |
| Cost of shares redeemed: |  |  |
| Class M | &nbsp;&nbsp;&nbsp;&nbsp; (17573885) | &nbsp;&nbsp;&nbsp;&nbsp; (56759509) |
| Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp; (3119098) | &nbsp;&nbsp;&nbsp;&nbsp; (3675164) |
| **Increase (Decrease) in Net Assets from Beneficial Interest Transactions** | &nbsp;&nbsp;&nbsp;&nbsp; **(10979073)** | &nbsp;&nbsp;&nbsp;&nbsp; **(25079812)** |
| **Total Increase (Decrease) in Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp; **(6519557)** | &nbsp;&nbsp;&nbsp;&nbsp; **(26842370)** |
| **Net Assets ($):** |  |  |
| Beginning of Period | &nbsp;&nbsp;&nbsp;&nbsp; 121391201 | &nbsp;&nbsp;&nbsp;&nbsp; 148233571 |
| **End of Period** | &nbsp;&nbsp;&nbsp;&nbsp; **114871644** | &nbsp;&nbsp;&nbsp;&nbsp; **121391201** |
| **Capital Share Transactions (Shares):** |  |  |
| **Class M**<sup>(a)</sup> <br>|  |  |
| Shares sold | &nbsp;&nbsp;&nbsp;&nbsp; 438636 | &nbsp;&nbsp;&nbsp;&nbsp; 2599712 |
| Shares issued for distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp; 7368 | &nbsp;&nbsp;&nbsp;&nbsp; 18420 |
| Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp; (1410808) | &nbsp;&nbsp;&nbsp;&nbsp; (4670896) |
| **Net Increase (Decrease) in Shares Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp; **(964804)** | &nbsp;&nbsp;&nbsp;&nbsp; **(2052764)** |
| **Investor Shares**<sup>(a)</sup> <br>|  |  |
| Shares sold | &nbsp;&nbsp;&nbsp;&nbsp; 327635 | &nbsp;&nbsp;&nbsp;&nbsp; 282714 |
| Shares issued for distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp; 5802 | &nbsp;&nbsp;&nbsp;&nbsp; 10399 |
| Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp; (249378) | &nbsp;&nbsp;&nbsp;&nbsp; (299788) |
| **Net Increase (Decrease) in Shares Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp; **84059** | &nbsp;&nbsp;&nbsp;&nbsp; **(6675)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> During the period ended February 28, 2026, 258,834 Class M shares representing $3,229,550 were exchanged for 258,963 Investor Shares and during the period ended August 31, 2025, 275,893 Class M shares representing $3,366,314 were exchanged for 276,027 Investor Shares. 

See notes to financial statements.

**9**

------

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.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **Class M Shares** | &nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;12.20 | &nbsp;&nbsp;&nbsp;&nbsp;12.34 | &nbsp;&nbsp;&nbsp;&nbsp;11.98 | &nbsp;&nbsp;&nbsp;&nbsp;11.99 | &nbsp;&nbsp;&nbsp;&nbsp;13.25 | &nbsp;&nbsp;&nbsp;&nbsp;13.12 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; .15 | &nbsp;&nbsp;&nbsp;&nbsp; .30 | &nbsp;&nbsp;&nbsp;&nbsp; .29 | &nbsp;&nbsp;&nbsp;&nbsp; .27 | &nbsp;&nbsp;&nbsp;&nbsp; .25 | &nbsp;&nbsp;&nbsp;&nbsp; .25 |
| Net realized and unrealized gain (loss) on <br> investments<br>| &nbsp;&nbsp;&nbsp;&nbsp; .46 | &nbsp;&nbsp;&nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .36 | &nbsp;&nbsp;&nbsp;&nbsp; .00 <br><sup>(b),(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.26)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .13 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp; .61 | &nbsp;&nbsp;&nbsp;&nbsp; .16 | &nbsp;&nbsp;&nbsp;&nbsp; .65 | &nbsp;&nbsp;&nbsp;&nbsp; .27 | &nbsp;&nbsp;&nbsp;&nbsp; (1.01)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .38 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | &nbsp;&nbsp;&nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.25)<br>|
| Dividends from net realized gain on <br> investments<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.25)<br>|
| Net asset value, end of period | &nbsp;&nbsp;&nbsp;&nbsp;12.66 | &nbsp;&nbsp;&nbsp;&nbsp;12.20 | &nbsp;&nbsp;&nbsp;&nbsp;12.34 | &nbsp;&nbsp;&nbsp;&nbsp;11.98 | &nbsp;&nbsp;&nbsp;&nbsp;11.99 | &nbsp;&nbsp;&nbsp;&nbsp;13.25 |
| **Total Return (%)** | &nbsp;&nbsp;&nbsp;&nbsp; 5.04 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;5.47 | &nbsp;&nbsp;&nbsp;&nbsp;2.27 | &nbsp;&nbsp;&nbsp;&nbsp; (7.69)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.89 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |  |
| Ratio of total expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .65 <br><sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .63 | &nbsp;&nbsp;&nbsp;&nbsp; .60 | &nbsp;&nbsp;&nbsp;&nbsp; .58 | &nbsp;&nbsp;&nbsp;&nbsp; .54 | &nbsp;&nbsp;&nbsp;&nbsp; .54 |
| Ratio of net expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .65 <br><sup>(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .62 <br><sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .60 <br><sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .57 <br><sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .54 | &nbsp;&nbsp;&nbsp;&nbsp; .54 |
| Ratio of net investment income to average <br> net assets<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.49 <br><sup>(e),(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.46 <br><sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.38 <br><sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.30 <br><sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;1.87 |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;&nbsp; 21.95 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;48.39 | &nbsp;&nbsp;&nbsp;&nbsp;68.51 | &nbsp;&nbsp;&nbsp;&nbsp;102.77 | &nbsp;&nbsp;&nbsp;&nbsp;49.94 | &nbsp;&nbsp;&nbsp;&nbsp;32.82 |
| **Net Assets, end of period ($ x 1,000)** | &nbsp;&nbsp;&nbsp;&nbsp; 105867 | &nbsp;&nbsp;&nbsp;&nbsp; 113743 | &nbsp;&nbsp;&nbsp;&nbsp; 140413 | &nbsp;&nbsp;&nbsp;&nbsp; 172978 | &nbsp;&nbsp;&nbsp;&nbsp; 253744 | &nbsp;&nbsp;&nbsp;&nbsp; 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 gains (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> Not annualized.

<sup>(e)</sup> Annualized.

<sup>(f)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**10**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)  | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, | Year Ended August 31, |
| **Investor Shares** | &nbsp;&nbsp;&nbsp; Six Months Ended <br>February 28, 2026 <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)  | 2025 | 2024 | 2023 | 2022 | 2021 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;12.19 | &nbsp;&nbsp;&nbsp;&nbsp;12.34 | &nbsp;&nbsp;&nbsp;&nbsp;11.98 | &nbsp;&nbsp;&nbsp;&nbsp;11.99 | &nbsp;&nbsp;&nbsp;&nbsp;13.24 | &nbsp;&nbsp;&nbsp;&nbsp;13.11 |
| Investment Operations: | Investment Operations: |  |  |  |  |  |
| Net investment income<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; .14 | &nbsp;&nbsp;&nbsp;&nbsp; .27 | &nbsp;&nbsp;&nbsp;&nbsp; .26 | &nbsp;&nbsp;&nbsp;&nbsp; .25 | &nbsp;&nbsp;&nbsp;&nbsp; .22 | &nbsp;&nbsp;&nbsp;&nbsp; .21 |
| Net realized and unrealized gain (loss) on <br> investments<br>| &nbsp;&nbsp;&nbsp;&nbsp; .47 | &nbsp;&nbsp;&nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .36 | &nbsp;&nbsp;&nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.25)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .13 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp; .61 | &nbsp;&nbsp;&nbsp;&nbsp; .12 | &nbsp;&nbsp;&nbsp;&nbsp; .62 | &nbsp;&nbsp;&nbsp;&nbsp; .24 | &nbsp;&nbsp;&nbsp;&nbsp; (1.03)<br>| &nbsp;&nbsp;&nbsp;&nbsp; .34 |
| Distributions: |  |  |  |  |  |  |
| Dividends from net investment income | &nbsp;&nbsp;&nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.21)<br>|
| Dividends from net realized gain on <br> investments<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (.01)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.21)<br>|
| Net asset value, end of period | &nbsp;&nbsp;&nbsp;&nbsp;12.66 | &nbsp;&nbsp;&nbsp;&nbsp;12.19 | &nbsp;&nbsp;&nbsp;&nbsp;12.34 | &nbsp;&nbsp;&nbsp;&nbsp;11.98 | &nbsp;&nbsp;&nbsp;&nbsp;11.99 | &nbsp;&nbsp;&nbsp;&nbsp;13.24 |
| **Total Return (%)** | &nbsp;&nbsp;&nbsp;&nbsp; 4.92 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .98 | &nbsp;&nbsp;&nbsp;&nbsp;5.21 | &nbsp;&nbsp;&nbsp;&nbsp;2.01 | &nbsp;&nbsp;&nbsp;&nbsp; (7.85)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.56 |
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |  |
| Ratio of total expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .90 <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .88 | &nbsp;&nbsp;&nbsp;&nbsp; .85 | &nbsp;&nbsp;&nbsp;&nbsp; .83 | &nbsp;&nbsp;&nbsp;&nbsp; .79 | &nbsp;&nbsp;&nbsp;&nbsp; .79 |
| Ratio of net expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .90 <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .87 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .85 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .82 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .79 | &nbsp;&nbsp;&nbsp;&nbsp; .79 |
| Ratio of net investment income to average <br> net assets<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.24 <br><sup>(c),(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.21 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.14 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.05 <br><sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;1.62 |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;&nbsp; 21.95 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;48.39 | &nbsp;&nbsp;&nbsp;&nbsp;68.51 | &nbsp;&nbsp;&nbsp;&nbsp;102.77 | &nbsp;&nbsp;&nbsp;&nbsp;49.94 | &nbsp;&nbsp;&nbsp;&nbsp;32.82 |
| **Net Assets, end of period ($ x 1,000)** | &nbsp;&nbsp;&nbsp;&nbsp; 9004 | &nbsp;&nbsp;&nbsp;&nbsp; 7648 | &nbsp;&nbsp;&nbsp;&nbsp; 7821 | &nbsp;&nbsp;&nbsp;&nbsp; 7593 | &nbsp;&nbsp;&nbsp;&nbsp; 10185 | &nbsp;&nbsp;&nbsp;&nbsp; 11680 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Not annualized.

<sup>(c)</sup> Annualized.

<sup>(d)</sup> Amount inclusive of reduction in fees due to earnings credits.

See notes to financial statements.

**11**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited)

**NOTE 1—**

**Significant Accounting Policies:**

BNY Mellon Massachusetts Intermediate Municipal Bond Fund (the "fund") is a separate diversified series of BNY Mellon Funds Trust (the "Trust"), which is registered under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company and operates as a series company currently offering seven series, including the fund. The fund's investment objective is to seek as high a level of income exempt from federal and Massachusetts state income taxes as is consistent with the preservation of capital. BNY Mellon Investment Adviser, Inc. (the "Adviser"), a wholly-owned subsidiary of The Bank of New York Mellon Corporation ("BNY"), serves as the fund's investment adviser. Effective October 1, 2025, the Adviser has engaged its affiliate, Insight North America LLC (the "Sub-Adviser"), an indirect wholly-owned subsidiary of BNY and an affiliate of the Adviser, to serve as the fund's sub-adviser.

The Bank of New York Mellon serves as administrator for the fund 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 the fund's shares, which are sold without a sales charge. The 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 of the Trust are allocated among them on a pro rata basis.

The Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") is the exclusive reference of authoritative U.S. generally accepted accounting principles ("GAAP") recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.

The Trust enters into contracts that contain a variety of indemnifications. The fund's maximum exposure under these arrangements is unknown. The fund does not anticipate recognizing any loss related to these arrangements.

**(a) Portfolio valuation:** The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.

Various inputs are used in determining the value of the fund's investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:

**Level 1**—unadjusted quoted prices in active markets for identical investments.

**Level 2**—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

**Level 3**—significant unobservable inputs (including the fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund's investments are as follows:

**12**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

Investments in municipal securities and instruments generally will be valued, to the extent possible, by one or more independent pricing services (the "Service"). When, in the judgment of the Service, quoted bid prices for investments are readily available and are representative of the bid side of the market, these investments 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). The value of other municipal securities and instruments is determined by the Service based on methods which include consideration of: yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. The Services are engaged under the general supervision of the Board. Overnight and certain other short-term debt securities and instruments (excluding Treasury bills) will be valued by the amortized cost method, which approximates value, unless a Service provides a valuation for such security or, in the opinion of the board or a committee or other persons designated by the Trust's Board of Trustees (the "Board"), such as the Adviser, the amortized cost method would not represent fair value. These securities are generally categorized within Level 2 of the fair value hierarchy.

Restricted securities, as well as securities or other assets for which recent market quotations or official closing prices are not readily available or are determined not to reflect accurately fair value (such as when the value of a security has been materially affected by events occurring after the close of the exchange or market on which the security is principally traded, but before the fund calculates its net asset value ("NAV")), or which are not valued by the Service, are valued at fair value as determined in good faith based on procedures approved by the Board. Fair value of investments is determined by the Adviser, as the fund's valuation designee pursuant to Rule 2a-5 under the Act, using such information as it deems appropriate under the circumstances. The factors that may be considered when fair valuing a security include fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. Using fair value to price investments may result in a value that is different from a security's most recent closing price and from the prices used by other mutual funds to calculate their NAVs. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

The following is a summary of the inputs used as of February 28, 2026 in valuing the 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** |
| **Assets ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup> <br>|  |  |  |  |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 112195550 | &nbsp;&nbsp; — | &nbsp;&nbsp; **112195550** |
|  | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **112195550** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **112195550** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>†</sup> See Schedule 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. 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.

The 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 the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed-income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies world-wide. Local, regional or global events such as war, military conflicts, acts of terrorism, natural disasters, the spread of infectious illness or other public health issues, recessions, elevated levels of government debt, changes in trade

**13**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

regulation or economic sanctions, internal unrest and discord, or other events could have a significant impact on the fund and its investments.

**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 the 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., the fund may be subject to a greater risk of principal decline from rising interest rates. When interest rates fall, the fund's investments in new securities may be at lower yields and may reduce the 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.

**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 fund's 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 the fund invests may have an impact on the fund's share price. Any such credit impairment could adversely impact the value of their bonds, which could negatively impact the performance of the fund.

**State-Specific Risk:** The fund is subject to the risk that 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.

**(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 the 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.

As of and during the period ended February 28, 2026, the fund did not have any liabilities for any uncertain tax positions. The fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During the period ended February 28, 2026, the fund did not incur any interest or penalties.

Each tax year in the three-year period ended August 31, 2025 remains subject to examination by the Internal Revenue Service and state taxing authorities.

The 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 fund has an unused capital loss carryover of $7,730,809 available for federal income tax purposes to be applied against future net realized capital gains, if any, realized subsequent to August 31, 2025. The fund has $772,335 of short-term capital losses and $6,958,474 of long-term capital losses which can be carried forward for an unlimited period.

The tax character of distributions paid to shareholders during the fiscal year ended August 31, 2025 were as follows: tax-exempt income $3,210,188 and ordinary income $13,569. The tax character of current year distributions will be determined at the end of the current fiscal year.

**(f) Operating segment reporting:** In accordance with FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280)

**14**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

- Improvements to Reportable Segment Disclosures ("ASU 2023-07"), the fund has operated and been managed as a single reportable segment, generating returns through dividends, interest, and/or gains from investments aligned with its single stated investment objective as outlined in the fund's prospectus. The fund's accounting policies are consistent with those described in these Notes to Financial Statements. The chief operating decision maker ("CODM") is represented by BNY Investments and is comprised of Senior Management and Directors of BNY Investments. The CODM considers the net increase in net assets resulting from operations when deciding whether to purchase additional investments or make distributions to shareholders. Detailed financial information for the fund is presented in these financial statements, including total assets and liabilities in the Statement of Assets and Liabilities, investments held in the Schedule of Investments, results of operations and significant segment expenses in the Statement of Operations, and additional performance information—such as total return, portfolio turnover, and ratios—in the Financial Highlights.

**NOTE 2—**

**Bank Lines of Credit:**

The fund participates with other long-term open-end funds managed by the Adviser in a $738 million unsecured credit facility led by Citibank, N.A. (the "Citibank Credit Facility") and a $300 million unsecured credit facility provided by BNY (the "BNY Credit Facility"), each to be utilized primarily for temporary or emergency purposes, including the financing of redemptions (each, a "Facility"). The Citibank Credit Facility is available in two tranches: (i) Tranche A is in an amount equal to $618 million and is available to all long-term open-ended funds, including the fund, and (ii) Tranche B is an amount equal to $120 million and is available only to BNY Mellon Floating Rate Income Fund, a series of BNY Mellon Investment Funds IV, Inc. In connection therewith, the fund has agreed to pay its pro rata portion of commitment fees for Tranche A of the Citibank Credit Facility and the BNY Credit Facility. Interest is charged to the fund based on rates determined pursuant to the terms of the respective Facility at the time of borrowing. During the period ended February 28, 2026, the fund did not borrow under 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 computed at the annual rate of .35% of the value of the fund's average daily net assets and is payable monthly.

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% |

---

Effective October 1, 2025, pursuant to a sub-investment advisory agreement between the Adviser and the Sub-Adviser, the Adviser pays the Sub-Adviser a monthly fee at an annual rate of .175% of the value of the fund's average daily net assets.

**(b)** Under the Shareholder Services Plan, Investor shares pay the Distributor at an annual rate of .25% of its average daily net assets for the provision of certain services. The services provided may include personal services relating to shareholder accounts, such as answering shareholder inquiries regarding the fund, and services related to the maintenance of shareholder accounts. The Distributor may make payments to Service Agents (securities dealers, financial institutions or other industry professionals) with respect to these services. The Distributor determines the amounts to be paid to Service Agents. During the period ended February 28, 2026, the fund was charged $10,527 pursuant to the Shareholder Services Plan.

The fund has 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 fund may receive earnings credits when positive cash balances are maintained, which are used to offset Transfer Agent and Custodian fees. For financial reporting purposes, the fund includes transfer agent net earnings credits, if any, and custody net earnings credits, if any, as an expense offset in the Statement of Operations.

The fund compensates the Transfer Agent, under a transfer agency agreement, for providing cash management services for the fund. The Transfer Agent fees are comprised of amounts paid on cash management fees which are related to fund subscriptions and redemptions. BNY pays the 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 February 28, 2026, there were no transfer agent cash management fees and earnings credits for the fund.

**15**

------

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

The fund compensates the Custodian, under a custody agreement, for providing custodial services for the fund. These fees are determined based on net assets, geographic region and transaction activity. During the period ended February 28, 2026, the fund was charged $1,011 pursuant to the custody agreement. These fees were partially offset by earnings credits of $911.

The fund compensates the Custodian, under a shareholder redemption draft processing agreement, for providing certain services related to the fund's check writing privilege. During the period ended February 28, 2026, the fund was charged $51 pursuant to the agreement, which is included in Shareholder servicing costs in the Statement of Operations.

During the period ended February 28, 2026, the fund was charged $15,059 for services performed by the fund's Chief Compliance Officer and his staff. These fees are included in Chief Compliance Officer fees in the Statement of Operations.

The fund compensates the Custodian for providing shareholder reporting and regulatory services for the fund. These fees are included in shareholder and regulatory reports service fees in the Statement of Operations. During the period ended February 28, 2026, the Custodian was compensated $9,000 for financial reporting and regulatory services.

The components of "Due to BNY Mellon Investment Adviser, Inc. and affiliates" in the Statement of Assets and Liabilities consist of: Management fee of $30,929, Administration fees of $13,255, Shareholder Services Plan fees of $1,820, Custodian fees of $900, Chief Compliance Officer fees of $5,361, Checkwriting fees of $8 and shareholder and regulatory reports service fees of $12,000.

**(c)** Each board member of the fund also serves as a board member of other funds in the BNY Mellon Family of Funds complex. Annual retainer fees and attendance fees are allocated to each fund based on net assets.

**NOTE 4—**

**Securities Transactions:**

The aggregate amount of purchases and sales of investment securities, excluding short-term securities, during the period ended February 28, 2026, amounted to $25,578,568 and $37,519,461, respectively.

At February 28, 2026, accumulated net unrealized appreciation on investments was $274,265, consisting of $2,023,593 gross unrealized appreciation and $1,749,328 gross unrealized depreciation.

At February 28, 2026, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Schedule of Investments).

**16**

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Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies (Unaudited)

N/A

**17**

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Item 9. Proxy Disclosures for Open-End Management Investment Companies (Unaudited)

N/A

**18**

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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. The fund is charged for services performed by the fund's Chief Compliance Officer. Compensation paid by the fund during the period to the board members and the Chief Compliance Officer are within Item 7. Statement 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 the fund during the period was $25,595.

**19**

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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 September 15-16, 2025 (the "September Meeting"), the Board discussed with representatives of the Adviser the realignment of certain internal investment personnel, whereby certain primary portfolio managers of the funds who are employees of the Adviser and BNY Wealth would become employees of Insight North America LLC ("INA"), an affiliate of the Adviser and BNY Wealth, and would no longer be employees of BNYIA or BNY Wealth (the "Realignment"), with the Realignment scheduled to occur on or about October 1, 2025 (the "Effective Date"). In connection with the Realignment, management of the Adviser and BNY Wealth recommended that the primary portfolio manager responsible for managing the investments of BNY Mellon Bond Fund and BNY Mellon Massachusetts Intermediate Municipal Bond Fund and the fixed-income investments portion of BNY Mellon Asset Allocation Fund continue to manage the respective fund's portfolio albeit as an employee of INA. Consequently, the Adviser proposed to engage INA to serve as each fund's sub-investment adviser, pursuant to a sub-investment advisory agreement between the Adviser and INA (the "Sub-Advisory Agreement"), to be effective on the Effective Date. In addition, the Adviser proposed revising the Trust's Investment Advisory Agreement to reflect the engagement of INA as sub-investment adviser to each fund (as revised, the "Revised Investment Advisory Agreement" and, together with the Sub-Advisory Agreement, the "Agreements"), to be effective on the Effective Date.

At the September Meeting, the Adviser recommended the approval of the Sub-Advisory Agreement, pursuant to which INA would serve as sub-investment adviser to each fund, and the Revised Investment Advisory Agreement. As to each fund, the recommendation for the approval of the Sub-Advisory Agreement and the Revised Investment Advisory Agreement was based on the following considerations, among others: (i) approval of the Agreements would permit the fund's current portfolio manager to continue to be responsible for the day-to-day management of the fund's portfolio after the Effective Date as employees of INA; (ii) there will be no material changes to the fund's investment objective, strategies or policies, no reduction in the nature or level of services provided to the fund, and no increases in the management fee payable by the fund as a result of the proposed changes to the investment advisory arrangements; and (iii) the Adviser (and not the fund) will pay INA for its sub-investment advisory services. The Adviser also confirmed that the appointment of INA as the funds' sub-investment adviser and the adoption of the Sub-Advisory Agreement would not require the approval of the funds' shareholders under the 1940 Act or the Investment Advisers Act of 1940, as amended. The Board also considered the fact that the Adviser stated that it believes there are no material changes to the information the Board had previously considered during the meeting of the Board held on March 24-25, 2025 (the "March Meeting")in connection with the annual contract renewal process (the "15(c) Process"), at which the Board re-approved the Trust's Investment Advisory Agreement for the ensuing year, other than the information about the Realignment and INA.

At the September Meeting, the Independent Trustees were assisted in their review by independent legal counsel and met with counsel in executive session separate from representatives of the Adviser and INA. Since the Board had renewed the Trust's Investment Advisory Agreement as part of the 15(c) Process, and, other than as discussed below, there had been no material changes in the information presented, the Board addressed certain of the relevant considerations by reference to their considerations and determinations during the 15(c) Process portion of the March Meeting. In considering approval 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.

At the September Meeting, the Board considered and approved the Sub-Advisory Agreement and the Revised Investment Advisory Agreement. In determining whether to approve the Sub-Advisory Agreement and the Revised Investment Advisory Agreement, the Board considered the materials prepared by the Adviser received in advance of the September Meeting and other information presented at the September Meeting, which included: (i) a form of the Sub-Advisory Agreement and a form of the Revised Investment Advisory Agreement; (ii) information regarding the Realignment and how it is expected to enhance investment capabilities; (iii) information regarding INA; (iv) information regarding the level of the sub-investment advisory fee to be charged by INA; (v) information regarding INA's compliance program; and (vi) an opinion of counsel that the proposed changes to the investment advisory arrangements would not result in an "assignment" of the Investment Advisory Agreement under the 1940 Act and the Investment Advisers Act of 1940, as amended, and, therefore, do not require the approval of fund shareholders. The Board also considered the substance of discussions with representatives of the Adviser at the September Meeting and in connection with the 15(c) Process at the March Meeting.

<u>Nature, Extent and Quality of Services to be Provided.</u> As to each fund, in examining the nature, extent and quality of the services that were expected to be provided by INA to the fund under the Sub-Advisory Agreement, the Board considered: (i) INA's organization, history, reputation, qualification and background, as well as the qualifications of its personnel; (ii) the expertise of the personnel

**20**

------

providing portfolio management services which would remain the same after the Effective Date; and (iii) the investment strategy for the fund, which would remain the same after the Effective Date. The Board also considered the review process undertaken by the Adviser and the Adviser's favorable assessment of the nature and quality of the sub-investment advisory services expected to be provided to the fund by INA after the Effective Date. Based on their consideration and review of the foregoing information, the Trustees concluded that the nature, extent and quality of the sub-investment advisory services to be provided by INA under the Sub-Advisory Agreement, as well as INA's ability to render such services based on its resources and the experience of the investment team, which will include the fund's current portfolio manager, were adequate and appropriate for the fund in light of the fund's investment objective, and supported a decision to approve the Sub-Advisory Agreement. The Board also considered, as it related to the Revised Investment Advisory Agreement, the Adviser's extensive administrative, accounting and compliance infrastructures, as well as the Adviser's supervisory activities over the fund's portfolio management personnel, and the Adviser's representation that there will be no reduction in the nature, extent or quality of services provided to the fund as a result of the proposed changes to the fund's investment advisory arrangements.

<u>Investment Performance.</u> The Board had considered each fund's investment performance and that of the investment team managing the fund's portfolio as part of the 15(c) Process of the March Meeting (including comparative data provided by Broadridge Financial Solutions, Inc.). The Board considered the performance and that the same investment professionals would continue to manage the fund's assets after the Effective Date, as factors in evaluating the services to be provided by INA under the Sub-Advisory Agreement after the Effective Date, and determined that these factors, when viewed together with the other factors considered by the Board, supported a decision to approve the Sub-Advisory Agreement and the Revised Investment Advisory Agreement.

<u>Costs of Services to be Provided and Profitability.</u> As to each fund, the Board considered the proposed fee payable under the Sub-Advisory Agreement, noting that the fee would be paid by the Adviser and, thus, would not impact the fees paid by the fund. The Board considered the fee payable to INA in relation to the fee paid to the Adviser by the fund and the respective services provided by INA and the Adviser. The Board recognized that, because INA's fee would be paid by the Adviser, and not the fund, an analysis of profitability was more appropriate in the context of the Board's consideration of the Trust's Investment Advisory Agreement, and that the Board had received and considered a profitability analysis of the Adviser and its affiliates, including INA, during the 15(c) Process portion of the March Meeting. The Board concluded that the proposed fee payable to INA by the Adviser was appropriate and the Adviser's profitability was not excessive in light of the nature, extent and quality of the services to be provided to each fund by the Adviser under the Revised Investment Advisory Agreement and INA under the Sub-Advisory Agreement.

<u>Economies of Scale to be Realized.</u> As to each fund, the Board recognized that, because the fee payable to INA would be paid by the Adviser, and not the fund, an analysis of economies of scale was more appropriate in the context of the Board's consideration of the Trust's Investment Advisory Agreement, which had been done during the 15(c) Process portion of the March Meeting. At that time, the Board determined that the economies of scale which may accrue to the Adviser and its affiliates in connection with the management of the fund had been adequately considered by the Adviser in connection with the fee rate charged to the fund pursuant to the Trust's Investment Advisory 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.

The Board also considered whether there were any ancillary benefits that would accrue to INA as a result of its relationship with the funds, and such ancillary benefits, if any, were determined to be reasonable.

In considering the materials and information described above, the Independent Trustees received assistance from, and met separately with, their independent legal counsel, and were provided with a written description of their statutory responsibilities and the legal standards that are applicable to the approval of investment advisory and sub-investment advisory agreements.

After full consideration of the factors discussed above, with no single factor identified as being of paramount importance, as to each fund, the Board members, all of whom are Independent Trustees, with the assistance of independent legal counsel, approved the Sub-Advisory Agreement and Revised Investment Advisory Agreement for the fund effective as of the Effective Date.

**21**

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Code-0912NCSRSA0226

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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 materials changes to the procedures applicable to Item 15.

**Item 16.** **Controls and Procedures.**

&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;(b) There were no changes to the Registrant's internal control over financial reporting that occurred
during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's
internal control over financial reporting.

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

Not applicable.

**Item 18.** **Recovery of Erroneously Awarded Compensation.** 

Not applicable.

**Item 19.** **Exhibits.**

(a)(1) Not applicable.

(a)(2) Not applicable.

(a)(3) [Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940](ex99-302cert_mellon.htm).

(a)(4) Not applicable.

(a)(5) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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](ex99-906cert_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: /s/ Lisa Sampson

Lisa Sampson

President (Principal Executive Officer)

Date: April 22, 2026

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

By: /s/ Lisa Sampson

Lisa Sampson

President (Principal Executive Officer)

Date: April 22, 2026

By: <u>/s/ James Windels</u>

James Windels

Treasurer (Principal Financial Officer)

Date: April 22, 2026

**EXHIBIT INDEX**

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; 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.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: April 22, 2026

**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: April 22, 2026

## 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: April 22, 2026

By: <u>/s/ James Windels</u>

James Windels

Treasurer (Principal Financial Officer)

Date: April 22, 2026

*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.*