# EDGAR Filing Document

**Accession Number:** 0001635295
**File Stem:** 0000030146-26-000286
**Filing Date:** 2026-6
**Character Count:** 271732
**Document Hash:** fe0865503db378004e486e4e7fe9cbd4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000030146-26-000286.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0000030146-26-000286

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 31

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**EFFECTIVENESS DATE**: 20260625

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BNY Mellon Absolute Insight Funds, Inc.
- **CENTRAL INDEX KEY:** 0001635295

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23036
- **FILM NUMBER:** 261122820

**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:** (212) 922-6400

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

## Series and Classes Contracts Data

### BNY Mellon Core Plus Fund (Series ID: S000059721)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000195444 | Class A      | DCPAX           |
| C000195445 | Class C      | DCPCX           |
| C000195446 | Class I      | DCPIX           |
| C000195447 | Class Y      | DCPYX           |

?xml version='1.0' encoding='ASCII'? 771ca0a8-3897-4f51-a6a3-7afaa7c70e6c

#### 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

#### 811-23036

#### BNY Mellon Absolute Insight Funds, Inc.
(Exact name of registrant as specified in charter)

------

c/o BNY Mellon Investment Adviser, Inc.

240 Greenwich Street

New York, New York 10286

(Address of Principal Executive Officer) (Zip Code)

Deirdre Cunnane, Esq.

240 Greenwich Street

New York, New York 10286

(Name and Address of Agent for Service)

#### Registrant's telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp;(212) 922-6400

#### Date of fiscal year end:

#### 4/30

#### Date of reporting period:

#### 4/30/26
ITEM 1 - Reports to Stockholders

BNY Mellon Core Plus Fund

#### ANNUAL SHAREHOLDER REPORT

#### April 30, 2026

#### Class A – DCPAX
This annual shareholder report contains important information about BNY Mellon Core Plus Fund (the "Fund") for the period of May 1, 2025 to April 30, 2026. You can find additional information about the Fund at bny.com/investments/literaturecenter. You can also request this information by calling 1-800-373-9387 (inside the U.S. only) or by sending an e-mail request to info@bny.com.

#### What were the Fund's costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class A<sup>\*</sup> | $72 | 0.70% |

---

\* <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>

#### How did the Fund perform last year ?
* For the 12-month period ended April 30, 2026, the Fund's Class A shares returned 4.47%.

* In comparison, the Bloomberg U.S. Aggregate Bond Index (the "Index") returned 4.06% for the same period.

#### What affected the Fund's performance?
* The Index rose as the U.S. bond market benefited from easing tariff concerns, tighter credit spreads and a steeper yield curve following U.S. Federal Reserve rate cuts.

* Overweight allocations to high yield, investment-grade credit and emerging-markets bonds, together with an underweight allocation to Treasuries, contributed positively to relative performance.

* Strong security selection within agency mortgage-backed securities, high yield and investment-grade corporates further supported relative performance, led by communications, technology and subordinate bank holdings.

* Yield curve positioning detracted from relative performance, primarily due to a position favoring a steeper yield curve between intermediate- and long-term U.S. Treasury maturities, and an overweight duration posture.

* Security selection within emerging markets also detracted, primarily due to positioning in Brazilian corporates and allocations within Panama.

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

**Cumulative Performance from May 1 , 2016 through April 30, 2026** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K](chartimages_11847394.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class A shares to a hypothetical investment of $10,000 made in the Bloomberg U.S. Aggregate Bond Index on 2/2/2018, the Class's inception. The performance shown takes into account the maximum initial sales charge on Class A shares and applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 4/30/26)**

---

| | | | |
|:---|:---|:---|:---|
| **Class A Shares** | **1YR** | **5YR** | **10YR** |
| with Maximum Sales Charge - 4.50% | -0.19% | -0.47% | 1.99% |
| without Sales Charge | 4.47% | 0.45% | 2.47% |
| Bloomberg U.S. Aggregate Bond Index | 4.06% | 0.18% | 1.67% |

---

Periods prior to the inception date of the Fund's Class A shares (2/2/2018) reflect the performance of the Fund's Class Y shares. Such performance figures have not been adjusted to reflect applicable class fees and expenses of Class A shares.

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

**KEY FUND STATISTICS (AS OF 4/30/26)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $2549 | 784 | $8812437 | 83.07% |

---

**Portfolio Holdings (as of 4/30/26)**

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

![Graphical Representation - Top N Holdings Chart](chartimages_11847423.jpg)

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

![Graphical Representation - Allocation 1 Chart](chartimages_11847399.jpg)

**For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit bny.com/investments/literaturecenter .**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-6347AR0426

![TSR- BNY Investment Logo](images_31331.jpg)

BNY Mellon Core Plus Fund

#### ANNUAL SHAREHOLDER REPORT

#### April 30, 2026

#### Class C – DCPCX
This annual shareholder report contains important information about BNY Mellon Core Plus Fund (the "Fund") for the period of May 1, 2025 to April 30, 2026. You can find additional information about the Fund at bny.com/investments/literaturecenter. You can also request this information by calling 1-800-373-9387 (inside the U.S. only) or by sending an e-mail request to info@bny.com.

#### What were the Fund's costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class C<sup>\*</sup> | $148 | 1.45% |

---

\* <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>

#### How did the Fund perform last year ?
* For the 12-month period ended April 30, 2026, the Fund's Class C shares returned 3.69%.

* In comparison, the Bloomberg U.S. Aggregate Bond Index (the "Index") returned 4.06% for the same period.

#### What affected the Fund's performance?
* The Index rose as the U.S. bond market benefited from easing tariff concerns, tighter credit spreads and a steeper yield curve following U.S. Federal Reserve rate cuts.

* Overweight allocations to high yield, investment-grade credit and emerging-markets bonds, together with an underweight allocation to Treasuries, contributed positively to relative performance.

* Strong security selection within agency mortgage-backed securities, high yield and investment-grade corporates further supported relative performance, led by communications, technology and subordinate bank holdings.

* Yield curve positioning detracted from relative performance, primarily due to a position favoring a steeper yield curve between intermediate- and long-term U.S. Treasury maturities, and an overweight duration posture.

* Security selection within emerging markets also detracted, primarily due to positioning in Brazilian corporates and allocations within Panama.

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

**Cumulative Performance from May 1 , 2016 through April 30, 2026** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K](chartimages_11847445.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class C shares to a hypothetical investment of $10,000 made in the Bloomberg U.S. Aggregate Bond Index on 2/2/2018, the Class's inception. The performance shown takes into account the maximum deferred sales charge on Class C shares and applicable fees and expenses of the Fund, including management fees, 12b-1 fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 4/30/26)**

---

| | | | |
|:---|:---|:---|:---|
| **Class C Shares** | **1YR** | **5YR** | **10YR** |
| with Maximum Deferred Sales Charge - 1.00% | 2.69% <sup>\*</sup> | -0.32% | 1.84% |
| without Deferred Sales Charge | 3.69% | -0.32% | 1.84% |
| Bloomberg U.S. Aggregate Bond Index | 4.06% | 0.18% | 1.67% |

---

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

Periods prior to the inception date of the Fund's Class C shares (2/2/2018) reflect the performance of the Fund's Class Y shares. Such performance figures have not been adjusted to reflect applicable class fees and expenses of Class C shares.

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

**KEY FUND STATISTICS (AS OF 4/30/26)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $2549 | 784 | $8812437 | 83.07% |

---

**Portfolio Holdings (as of 4/30/26)**

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

![Graphical Representation - Top N Holdings Chart](chartimages_11847474.jpg)

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

![Graphical Representation - Allocation 1 Chart](chartimages_11847450.jpg)

**For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit bny.com/investments/literaturecenter .**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-4125AR0426

![TSR- BNY Investment Logo](images_31331.jpg)

BNY Mellon Core Plus Fund

#### ANNUAL SHAREHOLDER REPORT

#### April 30, 2026

#### Class I – DCPIX
This annual shareholder report contains important information about BNY Mellon Core Plus Fund (the "Fund") for the period of May 1, 2025 to April 30, 2026. You can find additional information about the Fund at bny.com/investments/literaturecenter. You can also request this information by calling 1-800-373-9387 (inside the U.S. only) or by sending an e-mail request to info@bny.com.

#### What were the Fund's costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class I<sup>\*</sup> | $46 | 0.45% |

---

\* <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>

#### How did the Fund perform last year ?
* For the 12-month period ended April 30, 2026, the Fund's Class I shares returned 4.74%.

* In comparison, the Bloomberg U.S. Aggregate Bond Index (the "Index") returned 4.06% for the same period.

#### What affected the Fund's performance?
* The Index rose as the U.S. bond market benefited from easing tariff concerns, tighter credit spreads and a steeper yield curve following U.S. Federal Reserve rate cuts.

* Overweight allocations to high yield, investment-grade credit and emerging-markets bonds, together with an underweight allocation to Treasuries, contributed positively to relative performance.

* Strong security selection within agency mortgage-backed securities, high yield and investment-grade corporates further supported relative performance, led by communications, technology and subordinate bank holdings.

* Yield curve positioning detracted from relative performance, primarily due to a position favoring a steeper yield curve between intermediate- and long-term U.S. Treasury maturities, and an overweight duration posture.

* Security selection within emerging markets also detracted, primarily due to positioning in Brazilian corporates and allocations within Panama.

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

**Cumulative Performance from May 1 , 2016 through April 30, 2026** 

**Initial Investment of $10,000**

![Fund Performance - Growth of 10K](chartimages_11847496.jpg)

The above graph compares a hypothetical $10,000 investment in the Fund's Class I shares to a hypothetical investment of $10,000 made in the Bloomberg U.S. Aggregate Bond Index on 2/2/2018, the Class's inception. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 4/30/26)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class I | 4.74% | 0.70% | 2.68% |
| Bloomberg U.S. Aggregate Bond Index | 4.06% | 0.18% | 1.67% |

---

Periods prior to the inception date of the Fund's Class I shares (2/2/2018) reflect the performance of the Fund's Class Y shares. Such performance figures have not been adjusted to reflect applicable class fees and expenses of Class I shares.

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

**KEY FUND STATISTICS (AS OF 4/30/26)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $2549 | 784 | $8812437 | 83.07% |

---

**Portfolio Holdings (as of 4/30/26)**

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

![Graphical Representation - Top N Holdings Chart](chartimages_11847525.jpg)

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

![Graphical Representation - Allocation 1 Chart](chartimages_11847501.jpg)

**For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit bny.com/investments/literaturecenter .**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-4126AR0426

![TSR- BNY Investment Logo](images_31331.jpg)

BNY Mellon Core Plus Fund

#### ANNUAL SHAREHOLDER REPORT

#### April 30, 2026

#### Class Y – DCPYX
This annual shareholder report contains important information about BNY Mellon Core Plus Fund (the "Fund") for the period of May 1, 2025 to April 30, 2026. You can find additional information about the Fund at bny.com/investments/literaturecenter. You can also request this information by calling 1-800-373-9387 (inside the U.S. only) or by sending an e-mail request to info@bny.com.

#### What were the Fund's costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Class Y | $41 | 0.40% |

---

#### How did the Fund perform last year ?
* For the 12-month period ended April 30, 2026, the Fund's Class Y shares returned 4.80%.

* In comparison, the Bloomberg U.S. Aggregate Bond Index (the "Index") returned 4.06% for the same period.

#### What affected the Fund's performance?
* The Index rose as the U.S. bond market benefited from easing tariff concerns, tighter credit spreads and a steeper yield curve following U.S. Federal Reserve rate cuts.

* Overweight allocations to high yield, investment-grade credit and emerging-markets bonds, together with an underweight allocation to Treasuries, contributed positively to relative performance.

* Strong security selection within agency mortgage-backed securities, high yield and investment-grade corporates further supported relative performance, led by communications, technology and subordinate bank holdings.

* Yield curve positioning detracted from relative performance, primarily due to a position favoring a steeper yield curve between intermediate- and long-term U.S. Treasury maturities, and an overweight duration posture.

* Security selection within emerging markets also detracted, primarily due to positioning in Brazilian corporates and allocations within Panama.

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

**Cumulative Performance from May 1 , 2016 through April 30, 2026** 

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

![Fund Performance - Growth of 10K](chartimages_11847547.jpg)

The above graph compares a hypothetical $1,000,000 investment in the Fund's Class Y shares to a hypothetical investment of $1,000,000 made in the Bloomberg U.S. Aggregate Bond Index on 4/30/2016. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund's performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the Index is not subject to charges, fees and other expenses. Investors cannot invest directly in any index.

**AVERAGE ANNUAL TOTAL RETURNS (AS OF 4/30/26)**

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1YR** | **5YR** | **10YR** |
| Class Y | 4.80% | 0.74% | 2.71% |
| Bloomberg U.S. Aggregate Bond Index | 4.06% | 0.18% | 1.67% |

---

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

**KEY FUND STATISTICS (AS OF 4/30/26)**

---

| | | | |
|:---|:---|:---|:---|
| **<br>Fund Size (Millions)** | **<br>Number of Holdings** | **Total Advisory Fee Paid During<br>Period** | **<br>Annual Portfolio Turnover** |
| $2549 | 784 | $8812437 | 83.07% |

---

**Portfolio Holdings (as of 4/30/26)**

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

![Graphical Representation - Top N Holdings Chart](chartimages_11847576.jpg)

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

![Graphical Representation - Allocation 1 Chart](chartimages_11847552.jpg)

**For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit bny.com/investments/literaturecenter .**

 **Not FDIC Insured. Not Bank-Guaranteed. May Lose Value**© 2026 **BNY Mellon Securities Corporation**, Distributor,

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

Code-0252AR0426

![TSR- BNY Investment Logo](images_31331.jpg)

------

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

The Registrant has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There have been no amendments to, or waivers in connection with, the Code of Ethics during the period covered by this Report.

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

The Registrant's Board has determined that Alan H. Howard, a member of the Audit Committee of the Board, is an audit committee financial expert as defined by the Securities and Exchange Commission (the "SEC"). Mr. Howard is "independent" as defined by the SEC for purposes of audit committee financial expert determinations.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Audit Fees</u>. The aggregate fees billed for each of the last two fiscal years (the "Reporting Periods") for professional services rendered by the Registrant's principal accountant (the "Auditor") for the audit of the Registrant's annual financial statements or services that are normally provided by the Auditor in connection with the statutory and regulatory filings or engagements for the Reporting Periods, were $45,630 in 2025 and $45,630 in 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Audit-Related Fees</u>. The aggregate fees billed in the Reporting Periods for assurance and related services by the Auditor that are reasonably related to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item 4 were $23,014 in 2025 and $9,972 in 2026. These services consisted of one or more of the following: (i) agreed upon procedures related to compliance with Internal Revenue Code section 817(h), (ii) security counts required by Rule 17f-2 under the Investment Company Act of 1940, as amended, (iii) advisory services as to the accounting or disclosure treatment of Registrant transactions or events and (iv) advisory services to the accounting or disclosure treatment of the actual or potential impact to the Registrant of final or proposed rules, standards or interpretations by the Securities and Exchange Commission, the Financial Accounting Standards Boards or other regulatory or standard-setting bodies.

The aggregate fees billed in the Reporting Periods for non-audit assurance and related services by the Auditor to the Registrant's investment adviser (not including any sub-investment adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the Registrant ("Service Affiliates"), that were reasonably related to the performance of the annual audit of the Service Affiliate, which required pre-approval by the Audit Committee were $0 in 2025 and $0 in 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Tax Fees</u>. The aggregate fees billed in the Reporting Periods for professional services rendered by the Auditor for tax compliance, tax advice, and tax planning ("Tax Services") were $3,342 in 2025 and $3,342 in 2026. These services consisted of: (i) review or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local tax planning, advice and assistance regarding statutory, regulatory or administrative developments; (iii) tax advice regarding tax qualification matters and/or treatment of various financial instruments held or proposed to be acquired or held, and (iv) determination of Passive Foreign Investment Companies. The aggregate fees billed in the Reporting Periods for Tax Services by the Auditor to Service Affiliates, which required pre-approval by the Audit Committee were $8,860 in 2025 and $9,224 in 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>All Other Fees</u>. The aggregate fees billed in the Reporting Periods for products and services provided by the Auditor, other than the services reported in paragraphs (a) through (c) of this Item, were $3,094 in

2025 and $6,821 in 2026. These services consisted of a review of the Registrant's anti-money laundering program.

The aggregate fees billed in the Reporting Periods for Non-Audit Services by the Auditor to Service Affiliates, other than the services reported in paragraphs (b) through (c) of this Item, which required pre-approval by the Audit Committee, were $0 in 2025 and $0 in 2026.

(e)(1) <u>Audit Committee Pre-Approval Policies and Procedures</u>. The Registrant's Audit Committee has established policies and procedures (the "Policy") for pre-approval (within specified fee limits) of the Auditor's engagements for non-audit services to the Registrant and Service Affiliates without specific case-by-case consideration. The pre-approved services in the Policy can include pre-approved audit services, pre-approved audit-related services, pre-approved tax services and pre-approved all other services. Pre-approval considerations include whether the proposed services are compatible with maintaining the Auditor's independence. Pre-approvals pursuant to the Policy are considered annually.

(e)(2) <u>Note</u>. None of the services described in paragraphs (b) through (d) of this Item 4 were approved by the Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) None of the hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant's full-time, permanent employees.

<u>Non-Audit Fees</u>. The aggregate non-audit fees billed by the Auditor for services rendered to the Registrant, and rendered to Service Affiliates, for the Reporting Periods were $1,464,846 in 2025 and $3,886,925 in 2026.

<u>Auditor Independence</u>. The Registrant's Audit Committee has considered whether the provision of non-audit services that were rendered to Service Affiliates, which were not pre-approved (not requiring pre-approval), is compatible with maintaining the Auditor's independence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Not applicable.

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

Not applicable.

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

Not applicable.

BNY Mellon Core Plus Fund

**ANNUAL FINANCIALS AND OTHER INFORMATION**

April 30, 2026

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

---

| | |
|:---|:---|
| **Class** | **Ticker** |
| A | DCPAX |
| C | DCPCX |
| I | DCPIX |
| Y | DCPYX |

---

![](img5eb220761.gif)

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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 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_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_SOI-Commoncontent-4790_1)**<br> **[Investment Companies](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_SOI-Commoncontent-4790_1)**<br>| 3 |
| [Schedule of Investments](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_SOI-Commoncontent-4790_1) | 3 |
| [Statement of Assets and Liabilities](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_FS-Commoncontent-4790_1) | 23 |
| [Statement of Operations](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_FS-Commoncontent-4790_2) | 24 |
| [Statement of Changes in Net Assets](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_FS-Commoncontent-4790_3) | 25 |
| [Financial Highlights](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_FIHI-Commoncontent-4790_1) | 27 |
| [Notes to Financial Statements](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_NTF-Commoncontent-4790_1) | 31 |
| [Report of Independent Registered Public Accounting Firm](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_AUD-Commoncontent-4790_1) | 44 |
| [Important Tax Information](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_ITI-Commoncontent-4790_1) | 45 |
| **[Item 8. Changes in and Disagreements with Accountants for Open-End Management](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_CDA-Commoncontent-4790_1)**<br> **[Investment Companies](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_CDA-Commoncontent-4790_1)**<br>| 46 |
| **[Item 9. Proxy Disclosures for Open-End Management Investment Companies](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_PRXD-Commoncontent-4790_1)** | 47 |
| **[Item 10. Remuneration Paid to Directors, Officers, and Other of Open-End](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_RMNP-Commoncontent-4790_1)**<br> **[Management Investment Companies](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_RMNP-Commoncontent-4790_1)**<br>| 48 |
| **[Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts](#xx_4a59d024-2201-4fe1-9c0b-7da434fbd3cc_AAA-Commoncontent-4790_1)** | 49 |

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

BNY Mellon Core Plus Fund

SCHEDULE OF INVESTMENTS

April 30, 2026

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| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>| Principal <br>Amount ($)<sup>(a)</sup> <br>| Value ($) |
| **Asset-Backed Securities — 9.3%** | **Asset-Backed Securities — 9.3%** | **Asset-Backed Securities — 9.3%** | **Asset-Backed Securities — 9.3%** | **Asset-Backed Securities — 9.3%** |
| **Asset-Backed Certificates — 6.4%** | **Asset-Backed Certificates — 6.4%** | **Asset-Backed Certificates — 6.4%** | **Asset-Backed Certificates — 6.4%** | **Asset-Backed Certificates — 6.4%** |
| AASET, Ser. 2025-1A, Cl. A<sup>(b)</sup>  | 5.94 | 2/16/2050 | 2431882 | 2456998 |
| AASET MT-1 Ltd., Ser. 2025-3A, Cl. A<sup>(b)</sup>  | 5.24 | 2/16/2050 | 1533728 | 1519192 |
| Affirm Asset Securitization Trust, Ser. 2025-X2, Cl. C<sup>(b)</sup>  | 4.93 | 10/15/2030 | 367000 | 367490 |
| Affirm Master Trust, Ser. 2026-2A, Cl. A<sup>(b)</sup>  | 4.67 | 4/16/2035 | 2124000 | 2126816 |
| Amur Equipment Finance Receivables XI LLC, Ser. 2022-2A, Cl. A2<sup>(b)</sup>  | 5.30 | 6/21/2028 | 9151 | 9158 |
| Aqua Finance Issuer Trust, Ser. 2025-B, Cl. A<sup>(b)</sup>  | 4.79 | 5/17/2051 | 1548460 | 1550853 |
| Aqua Finance Issuer Trust, Ser. 2026-A, Cl. A<sup>(b)</sup>  | 4.76 | 4/17/2051 | 2305714 | 2296113 |
| Auxilior Term Funding LLC, Ser. 2023-1A, Cl. A2<sup>(b)</sup>  | 6.18 | 12/15/2028 | 54336 | 54415 |
| BHG Securitization Trust, Ser. 2026-1CON, Cl. B<sup>(b)</sup>  | 5.30 | 6/17/2036 | 5532000 | 5539038 |
| Blackbird Capital II Aircraft Lease Ltd, Ser. 2021-1A, Cl. A<sup>(b)</sup>  | 2.44 | 7/15/2046 | 3203305 | 3046798 |
| Blue Owl Asset Leasing Trust LLC, Ser. 2024-1A, Cl. A2<sup>(b)</sup>  | 5.05 | 3/15/2029 | 169768 | 170324 |
| CLI Funding IX LLC, Ser. 2025-1A, Cl. A<sup>(b)</sup>  | 5.35 | 6/20/2050 | 2236613 | 2246334 |
| Compass Datacenters Issuer II LLC, Ser. 2025-1A, Cl. A1<sup>(b)</sup>  | 5.32 | 5/25/2050 | 2424836 | 2435785 |
| Concord Music Royalties LLC, Ser. 2025-2A, Cl. A<sup>(b)</sup>  | 5.79 | 7/20/2075 | 2029000 | 2046310 |
| Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC, <br> Ser. 2025-1A, Cl. A2<sup>(b)</sup> <br>| 6.00 | 5/20/2055 | 837532 | 851855 |
| CyrusOne Data Centers Issuer I LLC, Ser. 2023-2A, Cl. A2<sup>(b)</sup>  | 5.56 | 11/20/2048 | 2424000 | 2429666 |
| CyrusOne Data Centers Issuer I LLC, Ser. 2025-1A, Cl. A2<sup>(b)</sup>  | 5.91 | 2/20/2050 | 2264000 | 2276389 |
| DailyPay Securitization Trust, Ser. 2025-1A, Cl. A<sup>(b)</sup>  | 5.63 | 6/26/2028 | 912000 | 914205 |
| Daimler Trucks Retail Trust, Ser. 2023-1, Cl. A3 | 5.90 | 3/15/2027 | 469107 | 470135 |
| DataBank Issuer, Ser. 2021-2A, Cl. A2<sup>(b)</sup>  | 2.40 | 10/25/2051 | 4198000 | 4150982 |
| DataBank Issuer, Ser. 2026-1A, Cl. A2<sup>(b)</sup>  | 5.81 | 2/25/2056 | 1907000 | 1911972 |
| DataBank Issuer II LLC, Ser. 2025-1A, Cl. A2<sup>(b)</sup>  | 5.18 | 9/27/2055 | 7645000 | 7539072 |
| DB Master Finance LLC, Ser. 2021-1A, Cl. A2I<sup>(b)</sup>  | 2.05 | 11/20/2051 | 4177573 | 4125045 |
| DB Master Finance LLC, Ser. 2025-1A, Cl. A2II<sup>(b)</sup>  | 5.17 | 8/20/2055 | 2112705 | 2087461 |
| Domino's Pizza Master Issuer LLC, Ser. 2021-1A, Cl. A2I<sup>(b)</sup>  | 2.66 | 4/25/2051 | 3427090 | 3253716 |
| Domino's Pizza Master Issuer LLC, Ser. 2025-1A, Cl. A2II<sup>(b)</sup>  | 5.22 | 7/25/2055 | 1398000 | 1389927 |
| EnFin Residential Solar Receivables Trust, Ser. 2024-1A, Cl. A<sup>(b)</sup>  | 6.65 | 2/20/2055 | 1647820 | 1488891 |
| EnFin Residential Solar Receivables Trust, Ser. 2024-2A, Cl. A<sup>(b)</sup>  | 5.98 | 9/20/2055 | 749206 | 675711 |
| GBX Leasing LLC, Ser. 2026-1A, Cl. A<sup>(b)</sup>  | 5.13 | 2/20/2056 | 1293398 | 1283986 |
| Gilead Aviation LLC, Ser. 2025-1A, Cl. A<sup>(b)</sup>  | 5.79 | 3/15/2050 | 3441011 | 3455917 |
| GreenSky Home Improvement Issuer Trust, Ser. 2024-2, Cl. A4<sup>(b)</sup>  | 5.15 | 10/27/2059 | 763001 | 766030 |
| Hilton Grand Vacations Trust, Ser. 2023-1A, Cl. A<sup>(b)</sup>  | 5.72 | 1/25/2038 | 243851 | 247621 |
| InStar Leasing III LLC, Ser. 2021-1A, Cl. A<sup>(b)</sup>  | 2.30 | 2/15/2054 | 1299696 | 1242022 |
| Instar Leasing V LLC, Ser. 2026-1A, Cl. A<sup>(b)</sup>  | 5.25 | 4/17/2056 | 1821000 | 1818609 |
| Jersey Mike's Funding LLC, Ser. 2024-1A, Cl. A2<sup>(b)</sup>  | 5.64 | 2/15/2055 | 2560140 | 2591147 |
| Jersey Mike's Funding LLC, Ser. 2025-1A, Cl. A2<sup>(b)</sup>  | 5.61 | 8/16/2055 | 1598965 | 1622322 |
| Lmdv Issuer Co. LLC, Ser. 2025-1A, Cl. A2<sup>(b)</sup>  | 5.31 | 12/15/2055 | 7617000 | 7596414 |
| Merit DAC, Ser. 2026-1A, Cl. A<sup>(b)</sup>  | 4.85 | 2/15/2040 | 4145143 | 4099476 |
| MetroNet Infrastructure Issuer LLC, Ser. 2025-2A, Cl. A2<sup>(b)</sup>  | 5.40 | 8/20/2055 | 1736133 | 1752015 |
| MetroNet Infrastructure Issuer LLC, Ser. 2025-4A, Cl. A2<sup>(b)</sup>  | 5.16 | 12/20/2055 | 1244192 | 1245978 |
| MetroNet Infrastructure Issuer LLC, Ser. 2026-1A, Cl. A2<sup>(b)</sup>  | 5.27 | 4/20/2056 | 831785 | 837115 |
| MTP ABS Funding LLC, Ser. 2026-1A, Cl. A2<sup>(b)</sup>  | 5.20 | 4/25/2056 | 3947367 | 3965097 |
| Navigator Aviation Ltd., Ser. 2025-1, Cl. A<sup>(b)</sup>  | 5.11 | 10/15/2050 | 1424588 | 1397127 |
| New Economy Assets Phase 1 Sponsor LLC, Ser. 2021-1, Cl. A1<sup>(b)</sup>  | 1.91 | 10/20/2061 | 4786000 | 4058528 |
| OneMain Financial Issuance Trust, Ser. 2019-2A, Cl. A<sup>(b)</sup>  | 3.14 | 10/14/2036 | 3801000 | 3729608 |
| PK Alift Loan Funding 7 LP, Ser. 2025-2, Cl. A<sup>(b)</sup>  | 4.75 | 3/15/2043 | 1657659 | 1642100 |

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**3**

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SCHEDULE OF INVESTMENTS (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Asset-Backed Securities — 9.3% (continued)** | **Asset-Backed Securities — 9.3% (continued)** | **Asset-Backed Securities — 9.3% (continued)** | **Asset-Backed Securities — 9.3% (continued)** | **Asset-Backed Securities — 9.3% (continued)** |
| **Asset-Backed Certificates — 6.4% (continued)** | **Asset-Backed Certificates — 6.4% (continued)** | **Asset-Backed Certificates — 6.4% (continued)** | **Asset-Backed Certificates — 6.4% (continued)** | **Asset-Backed Certificates — 6.4% (continued)** |
| Regional Management Issuance Trust, Ser. 2024-1, Cl. A<sup>(b)</sup>  | 5.83 | 7/15/2036 | 981000 | 993768 |
| Regional Management Issuance Trust, Ser. 2024-2, Cl. A<sup>(b)</sup>  | 5.11 | 12/15/2033 | 2573000 | 2582511 |
| Retained Vantage Data Centers Issuer LLC, Ser. 2025-1A, Cl. A2A<sup>(b)</sup>  | 5.09 | 8/15/2050 | 2158000 | 2108650 |
| SCF Equipment Leasing LLC, Ser. 2025-1A, Cl. D<sup>(b)</sup>  | 5.88 | 11/20/2035 | 353000 | 356179 |
| Slam Ltd., Ser. 2021-1A, Cl. A<sup>(b)</sup>  | 2.43 | 6/15/2046 | 6435699 | 6121290 |
| Slam Ltd., Ser. 2025-1A, Cl. A<sup>(b)</sup>  | 5.81 | 5/15/2050 | 1563516 | 1580676 |
| Stack Infrastructure Issuer LLC, Ser. 2025-1A, Cl. A2<sup>(b)</sup>  | 5.00 | 5/25/2050 | 5553938 | 5392332 |
| Summit Issuer LLC, Ser. 2025-1A, Cl. A2<sup>(b)</sup>  | 5.21 | 11/20/2055 | 4153225 | 4165149 |
| Taco Bell Funding LLC, Ser. 2025-1A, Cl. A2II<sup>(b)</sup>  | 5.05 | 8/25/2055 | 4679602 | 4590627 |
| TIF Funding II LLC, Ser. 2021-1A, Cl. A<sup>(b)</sup>  | 1.65 | 2/20/2046 | 2124596 | 1943196 |
| TIF Funding III LLC, Ser. 2024-1A, Cl. A<sup>(b)</sup>  | 5.48 | 4/20/2049 | 3439125 | 3451194 |
| Trinity Rail Leasing 2025 LLC, Ser. 2026-1A, Cl. A<sup>(b)</sup>  | 5.35 | 4/19/2056 | 3923000 | 3924436 |
| Vantage Data Centers Issuer LLC, Ser. 2021-1A, Cl. A2<sup>(b)</sup>  | 2.17 | 10/15/2046 | 3750000 | 3697900 |
| Wendy's Funding LLC, Ser. 2025-1A, Cl. A2I<sup>(b)</sup>  | 5.42 | 12/15/2055 | 6534623 | 6461634 |
| Willis Engine Structured Trust VI, Ser. 2021-A, Cl. A<sup>(b)</sup>  | 3.10 | 5/15/2046 | 3668080 | 3451781 |
| Zayo Issuer LLC, Ser. 2025-2A, Cl. A2<sup>(b)</sup>  | 5.95 | 6/20/2055 | 8408645 | 8551777 |
|  |  |  |  | **162154863** |
| **Asset-Backed Certificates/Auto Receivables — 2.6%** | **Asset-Backed Certificates/Auto Receivables — 2.6%** | **Asset-Backed Certificates/Auto Receivables — 2.6%** | **Asset-Backed Certificates/Auto Receivables — 2.6%** | **Asset-Backed Certificates/Auto Receivables — 2.6%** |
| Ally Bank Auto Credit-Linked Notes, Ser. 2025-A, Cl. C<sup>(b)</sup>  | 4.84 | 6/15/2033 | 1159953 | 1163142 |
| Ally Bank Auto Credit-Linked Notes, Ser. 2025-B, Cl. C<sup>(b)</sup>  | 4.70 | 9/15/2033 | 3006549 | 3005800 |
| AutoNation Finance Trust, Ser. 2025-1A, Cl. C<sup>(b)</sup>  | 5.19 | 12/10/2030 | 2709000 | 2741109 |
| Avis Budget Rental Car Funding AESOP LLC, Ser. 2025-1A, Cl. C<sup>(b)</sup>  | 5.87 | 8/20/2029 | 441000 | 444335 |
| Bayview Opportunity Master Fund VII LLC, Ser. 2024-CAR1, Cl. A, <br> (1 Month SOFRCOMPOUND +1.10%)<sup>(b),(c)</sup> <br>| 4.75 | 12/26/2031 | 384457 | 384992 |
| Bayview Opportunity Master Fund VII Trust, Ser. 2024-SN1, Cl. C<sup>(b)</sup>  | 5.83 | 12/15/2028 | 1052000 | 1061472 |
| Carvana Auto Receivables Trust, Ser. 2021-N1, Cl. C | 1.30 | 1/10/2028 | 403449 | 400707 |
| Carvana Auto Receivables Trust, Ser. 2024-P4, Cl. A4 | 4.74 | 12/10/2030 | 2405000 | 2418227 |
| Carvana Auto Receivables Trust, Ser. 2025-P3, Cl. C | 4.99 | 1/12/2032 | 3044000 | 3036811 |
| Chesapeake Funding II LLC, Ser. 2023-2A, Cl. A1<sup>(b)</sup>  | 6.16 | 10/15/2035 | 336755 | 339157 |
| Enterprise Fleet Financing LLC, Ser. 2025-2, Cl. A3<sup>(b)</sup>  | 4.41 | 6/20/2029 | 2031000 | 2035439 |
| Exeter Automobile Receivables Trust, Ser. 2025-1A, Cl. C | 5.09 | 5/15/2031 | 11144000 | 11229078 |
| Exeter Automobile Receivables Trust, Ser. 2025-4A, Cl. C | 4.57 | 6/16/2031 | 3171000 | 3164055 |
| Ford Credit Auto Owner Trust, Ser. 2024-1, Cl. A<sup>(b)</sup>  | 4.87 | 8/15/2036 | 2394000 | 2430487 |
| Huntington Bank Auto Credit-Linked Notes, Ser. 2024-2, Cl. B1<sup>(b)</sup>  | 5.44 | 10/20/2032 | 495772 | 499510 |
| Huntington Bank Auto Credit-Linked Notes, Ser. 2025-1, Cl. B<sup>(b)</sup>  | 4.96 | 3/21/2033 | 1838404 | 1844831 |
| Merchants Fleet Funding LLC, Ser. 2024-1A, Cl. D<sup>(b)</sup>  | 6.85 | 4/20/2037 | 2980000 | 3014793 |
| Octane Receivables Trust, Ser. 2024-3A, Cl. A2<sup>(b)</sup>  | 4.94 | 5/20/2030 | 549476 | 551996 |
| Oscar US Funding XVI LLC, Ser. 2024-1A, Cl. A3<sup>(b)</sup>  | 5.54 | 2/10/2028 | 1254581 | 1257352 |
| PenFed Auto Receivables Owner Trust, Ser. 2025-A, Cl. C<sup>(b)</sup>  | 4.67 | 2/17/2032 | 910000 | 905313 |
| Santander Drive Auto Receivables Trust, Ser. 2025-1, Cl. C | 5.04 | 3/17/2031 | 4215000 | 4246619 |
| Santander Drive Auto Receivables Trust, Ser. 2025-3, Cl. C | 4.68 | 9/15/2031 | 1844000 | 1845497 |
| Santander Drive Auto Receivables Trust, Ser. 2025-4, Cl. C | 4.52 | 1/15/2032 | 814000 | 813940 |
| Tesla Lease Electric Vehicle Securitization LLC, Ser. 2025-A, Cl. A4<sup>(b)</sup>  | 4.37 | 5/21/2029 | 1577000 | 1578118 |
| US Bank NA, Ser. 2023-1, Cl. B<sup>(b)</sup>  | 6.79 | 8/25/2032 | 65803 | 66322 |
| Westlake Automobile Receivables Trust, Ser. 2025-1A, Cl. C<sup>(b)</sup>  | 5.14 | 10/15/2030 | 2435000 | 2455297 |
| Westlake Automobile Receivables Trust, Ser. 2025-2A, Cl. D<sup>(b)</sup>  | 5.08 | 5/15/2031 | 3207000 | 3216878 |
| Westlake Automobile Receivables Trust, Ser. 2026-1A, Cl. C<sup>(b)</sup>  | 4.37 | 6/16/2031 | 7533000 | 7475254 |
| World Omni Auto Receivables Trust, Ser. 2024-C, Cl. A3 | 4.43 | 12/17/2029 | 2675231 | 2682561 |
|  |  |  |  | **66309092** |

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**4**

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| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Asset-Backed Securities — 9.3% (continued)** | **Asset-Backed Securities — 9.3% (continued)** | **Asset-Backed Securities — 9.3% (continued)** | **Asset-Backed Securities — 9.3% (continued)** | **Asset-Backed Securities — 9.3% (continued)** |
| **Asset-Backed Certificates/Home Equity Loans — .3%** | **Asset-Backed Certificates/Home Equity Loans — .3%** | **Asset-Backed Certificates/Home Equity Loans — .3%** | **Asset-Backed Certificates/Home Equity Loans — .3%** | **Asset-Backed Certificates/Home Equity Loans — .3%** |
| GS Mortgage-Backed Securities Trust, Ser. 2024-HE1, Cl. A1, (1 Month <br> SOFRCOMPOUND +1.60%)<sup>(b),(c)</sup> <br>| 5.25 | 8/25/2054 | 4000906 | 4013451 |
| JPMorgan Mortgage Trust, Ser. 2024-CES1, Cl. A2<sup>(b)</sup>  | 6.15 | 6/25/2054 | 1905618 | 1918122 |
| RCKT Mortgage Trust, Ser. 2024-CES2, Cl. A2<sup>(b)</sup>  | 6.39 | 4/25/2044 | 1441865 | 1454443 |
|  |  |  |  | **7386016** |
| **Asset-Backed Certificates/Student Loans — .0%** | **Asset-Backed Certificates/Student Loans — .0%** | **Asset-Backed Certificates/Student Loans — .0%** | **Asset-Backed Certificates/Student Loans — .0%** | **Asset-Backed Certificates/Student Loans — .0%** |
| Commonbond Student Loan Trust, Ser. 2019-AGS, Cl. A1<sup>(b)</sup>  | 2.54 | 1/25/2047 | 1406791 | **1297850** |
| **Total Asset-Backed Securities** <br>(cost $238,551,005) | **Total Asset-Backed Securities** <br>(cost $238,551,005) | **Total Asset-Backed Securities** <br>(cost $238,551,005) |  | **237147821** |
| **Collateralized Loan Obligations — 3.8%** | **Collateralized Loan Obligations — 3.8%** | **Collateralized Loan Obligations — 3.8%** | **Collateralized Loan Obligations — 3.8%** | **Collateralized Loan Obligations — 3.8%** |
| **Collateralized Loan Obligations Debt — 3.8%** | **Collateralized Loan Obligations Debt — 3.8%** | **Collateralized Loan Obligations Debt — 3.8%** | **Collateralized Loan Obligations Debt — 3.8%** | **Collateralized Loan Obligations Debt — 3.8%** |
| Antares Ltd. CLO, Ser. 2017-1A, Cl. CRR, (3 Month TSFR +2.25%)<sup>(b),(c)</sup>  | 5.93 | 1/20/2037 | 4000000 | 4005072 |
| Apidos XXXIX Ltd. CLO, Ser. 2022-39A, Cl. A1R, (3 Month TSFR <br> +1.23%)<sup>(b),(c)</sup> <br>| 4.90 | 10/21/2038 | 5000000 | 5006995 |
| Ares XLIX Ltd. CLO, Ser. 2018-49A, Cl. XR, (3 Month TSFR +1.10%)<sup>(b),(c)</sup>  | 4.76 | 10/22/2036 | 4025000 | 4026968 |
| BlackRock Shasta XIII LLC CLO, Ser. 2024-1A, Cl. A1, (3 Month TSFR <br> +1.85%)<sup>(b),(c)</sup> <br>| 5.52 | 7/15/2036 | 6000000 | 6007044 |
| CARLYLE US Ltd. CLO, Ser. 2021-6A, Cl. A1R, (3 Month TSFR <br> +1.29%)<sup>(b),(c)</sup> <br>| 4.96 | 1/15/2038 | 5900000 | 5907481 |
| Cedar Funding VIII Ltd. CLO, Ser. 2017-8A, Cl. DRR, (3 Month TSFR <br> +2.95%)<sup>(b),(c)</sup> <br>| 6.63 | 1/17/2038 | 4439232 | 4338945 |
| Cerberus Loan Funding XLV LLC, Ser. 2024-1A, Cl. A, (3 Month TSFR <br> +1.90%)<sup>(b),(c)</sup> <br>| 5.57 | 4/15/2036 | 5000000 | 5013675 |
| Cerberus Loan Funding XXXIX LP, Ser. 2022-3A, Cl. AR, (3 Month TSFR <br> +1.40%)<sup>(b),(c)</sup> <br>| 5.07 | 1/15/2033 | 1146610 | 1147418 |
| Churchill MMSLF IV Ltd. CLO, Ser. 2024-3A, Cl. A, (3 Month TSFR <br> +1.60%)<sup>(b),(c)</sup> <br>| 5.26 | 10/22/2035 | 6000000 | 6005202 |
| Fortress Credit Opportunities IX Ltd. CLO, Ser. 2017-9A, Cl. A1TR, <br> (3 Month TSFR +1.81%)<sup>(b),(c)</sup> <br>| 5.48 | 10/15/2033 | 1248726 | 1251452 |
| Fortress Credit Opportunities XXXV Ltd. CLO, Ser. 2025-35A, Cl. A1, <br> (3 Month TSFR +1.40%)<sup>(b),(c)</sup> <br>| 5.08 | 7/20/2033 | 2348669 | 2350372 |
| Golub Capital Partners Ltd. CLO, Ser. 2020-47A, Cl. CR, (3 Month TSFR <br> +2.40%)<sup>(b),(c)</sup> <br>| 6.06 | 8/5/2037 | 5481000 | 5487879 |
| Great Lakes IX Ltd. CLO, Ser. 2025-9A, Cl. A1, (3 Month TSFR <br> +1.55%)<sup>(b),(c)</sup> <br>| 5.22 | 1/15/2039 | 1250000 | 1250313 |
| IVY Hill Middle Market Credit Fund XII Ltd., Ser. 12A, Cl. A2RR, (3 Month <br> TSFR +1.70%)<sup>(b),(c)</sup> <br>| 5.38 | 4/20/2037 | 340000 | 340295 |
| IVY Hill Middle Market Credit Fund XVIII Ltd., Ser. 18A, Cl. A1R, (3 Month <br> TSFR +1.58%)<sup>(b),(c)</sup> <br>| 5.24 | 1/22/2037 | 7850000 | 7852661 |
| LCM 37 Ltd. CLO, Ser. 37A, Cl. A1R, (3 Month TSFR +1.06%)<sup>(b),(c)</sup>  | 4.73 | 4/15/2034 | 3454854 | 3454636 |
| MCF VIII Ltd. CLO, Ser. 2018-1A, Cl. AR, (3 Month TSFR +1.95%)<sup>(b),(c)</sup>  | 5.63 | 4/18/2036 | 4550000 | 4563514 |
| MCF VIII Ltd. CLO, Ser. 2018-1A, Cl. CR, (3 Month TSFR +3.10%)<sup>(b),(c)</sup>  | 6.78 | 4/18/2036 | 6500000 | 6508528 |
| MF1 Ltd. CLO, Ser. 2021-FL7, Cl. AS, (1 Month TSFR +1.56%)<sup>(b),(c)</sup>  | 5.23 | 10/16/2036 | 6578500 | 6579311 |
| MF1 Ltd. CLO, Ser. 2022-FL8, Cl. A, (1 Month TSFR +1.35%)<sup>(b),(c)</sup>  | 5.01 | 2/19/2037 | 1287841 | 1289024 |
| Neuberger Berman Loan Advisers 41 Ltd. CLO, Ser. 2021-41A, Cl. AR, <br> (3 Month TSFR +1.05%)<sup>(b),(c)</sup> <br>| 4.72 | 4/15/2034 | 4700000 | 4702101 |
| Neuberger Berman Loan Advisers 47 Ltd. CLO, Ser. 2022-47A, Cl. AR, <br> (3 Month TSFR +1.09%)<sup>(b),(c)</sup> <br>| 4.76 | 4/16/2035 | 5680688 | 5683409 |
| OWL Rock XXI LLC CLO, Ser. 2025-21A, Cl. A, (3 Month TSFR <br> +1.40%)<sup>(b),(c)</sup> <br>| 5.07 | 7/24/2034 | 3695512 | 3698091 |
| **Total Collateralized Loan Obligations** <br>(cost $96,476,632) | **Total Collateralized Loan Obligations** <br>(cost $96,476,632) | **Total Collateralized Loan Obligations** <br>(cost $96,476,632) |  | **96470386** |

---

**5**

------

SCHEDULE OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Commercial Mortgage-Backed — 4.9%** | **Commercial Mortgage-Backed — 4.9%** | **Commercial Mortgage-Backed — 4.9%** | **Commercial Mortgage-Backed — 4.9%** | **Commercial Mortgage-Backed — 4.9%** |
| **Commercial Mortgage Pass-Through Certificates — 4.9%** | **Commercial Mortgage Pass-Through Certificates — 4.9%** | **Commercial Mortgage Pass-Through Certificates — 4.9%** | **Commercial Mortgage Pass-Through Certificates — 4.9%** | **Commercial Mortgage Pass-Through Certificates — 4.9%** |
| A&D Mortgage Trust, Ser. 2026-NQM3, Cl. A1<sup>(b)</sup>  | 5.08 | 4/25/2071 | 6923170 | 6934289 |
| Angel Oak Mortgage Trust, Ser. 2024-3, Cl. A2<sup>(b)</sup>  | 4.80 | 11/26/2068 | 304760 | 301865 |
| Aspire Mortgage Trust, Ser. 2026-1, Cl. A1<sup>(b)</sup>  | 4.86 | 1/25/2066 | 3622949 | 3603849 |
| BANK5 Trust, Ser. 2024-5YR12, Cl. A2 | 5.42 | 12/15/2057 | 11436000 | 11699060 |
| Benchmark Mortgage Trust, Ser. 2024-V11, Cl. A2 | 5.42 | 11/15/2057 | 5419070 | 5546707 |
| BRAVO Residential Funding Trust, Ser. 2023-NQM5, Cl. A2<sup>(b)</sup>  | 6.86 | 6/25/2063 | 733454 | 733985 |
| BRAVO Residential Funding Trust, Ser. 2025-NQM8, Cl. A1<sup>(b)</sup>  | 5.08 | 6/25/2065 | 1165919 | 1165441 |
| Brean Asset Backed Securities Trust, Ser. 2025-RM11, Cl. A1<sup>(b)</sup>  | 4.75 | 5/25/2065 | 5696888 | 5626064 |
| BXHPP Trust, Ser. 2021-FILM, Cl. C, (1 Month TSFR +1.21%)<sup>(b),(c)</sup>  | 4.87 | 8/15/2036 | 1181000 | 1036549 |
| COLT Mortgage Loan Trust, Ser. 2023-3, Cl. A2<sup>(b)</sup>  | 7.43 | 9/25/2068 | 1489120 | 1497260 |
| COLT Mortgage Loan Trust, Ser. 2025-3, Cl. A1<sup>(b)</sup>  | 5.35 | 3/25/2070 | 1609474 | 1616377 |
| COLT Mortgage Loan Trust, Ser. 2025-8, Cl. A1<sup>(b)</sup>  | 5.48 | 8/25/2070 | 2780545 | 2796022 |
| COLT Mortgage Loan Trust, Ser. 2026-3, Cl. A1<sup>(b)</sup>  | 5.12 | 5/25/2071 | 192912 | 193530 |
| Commercial Mortgage Trust, Ser. 2020-CX, Cl. D<sup>(b)</sup>  | 2.77 | 11/10/2046 | 705000 | 548011 |
| Cross Mortgage Trust, Ser. 2024-H2, Cl. A2<sup>(b)</sup>  | 6.42 | 4/25/2069 | 595472 | 599489 |
| Cross Mortgage Trust, Ser. 2024-H2, Cl. A3<sup>(b)</sup>  | 6.52 | 4/25/2069 | 770838 | 775486 |
| Cross Mortgage Trust, Ser. 2024-H3, Cl. A2<sup>(b)</sup>  | 6.58 | 6/25/2069 | 1684417 | 1698827 |
| Cross Mortgage Trust, Ser. 2025-H2, Cl. A1<sup>(b)</sup>  | 5.36 | 3/25/2070 | 1206833 | 1209809 |
| Cross Mortgage Trust, Ser. 2025-H2, Cl. A2<sup>(b)</sup>  | 5.46 | 3/25/2070 | 2554649 | 2556999 |
| Cross Mortgage Trust, Ser. 2025-H8, Cl. A1<sup>(b)</sup>  | 5.00 | 11/25/2070 | 2853748 | 2846895 |
| Cross Mortgage Trust, Ser. 2026-NQM5, Cl. A1<sup>(b)</sup>  | 5.09 | 3/25/2071 | 1269690 | 1270011 |
| DBC Mortgage Trust, Ser. 2025-DBC, Cl. A, (1 Month TSFR +1.35%)<sup>(b),(c)</sup>  | 5.01 | 11/15/2042 | 3724215 | 3731555 |
| EFMT, Ser. 2025-RTL1, Cl. A1<sup>(b)</sup>  | 5.22 | 11/25/2040 | 4500000 | 4492718 |
| Hudson Yards Mortgage Trust, Ser. 2025-SPRL, Cl. C<sup>(b)</sup>  | 6.15 | 1/13/2040 | 1038000 | 1063725 |
| Imperial Fund Mortgage Trust, Ser. 2023-NQM1, Cl. A1<sup>(b)</sup>  | 5.94 | 2/25/2068 | 774696 | 776174 |
| IRV Trust, Ser. 2025-200P, Cl. C<sup>(b)</sup>  | 5.92 | 3/14/2047 | 1062865 | 1064811 |
| LHOME Mortgage Trust, Ser. 2025-RTL3, Cl. A1<sup>(b)</sup>  | 5.24 | 8/25/2040 | 1336000 | 1336508 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Ser. 2025-5C1, Cl. <br> A2<br>| 4.91 | 3/15/2058 | 5656000 | 5698080 |
| New Residential Mortgage Loan Trust, Ser. 2021-NQ2R, Cl. A1<sup>(b)</sup>  | 0.94 | 10/25/2058 | 517513 | 498979 |
| New Residential Mortgage Loan Trust, Ser. 2022-NQM1, Cl. A1<sup>(b)</sup>  | 2.28 | 4/25/2061 | 4686955 | 4239562 |
| New Residential Mortgage Loan Trust, Ser. 2024-NQM3, Cl. A1<sup>(b)</sup>  | 5.47 | 11/25/2064 | 2278034 | 2298441 |
| New Residential Mortgage Loan Trust, Ser. 2025-NQM2, Cl. A1<sup>(b)</sup>  | 5.57 | 4/25/2065 | 5571979 | 5609771 |
| NY Commercial Mortgage Trust, Ser. 2025-299P, Cl. A<sup>(b)</sup>  | 5.85 | 2/10/2047 | 1003000 | 1041942 |
| NYMT Loan Trust, Ser. 2024-BPL2, Cl. A1<sup>(b)</sup>  | 6.51 | 5/25/2039 | 4605000 | 4626593 |
| NYMT Loan Trust, Ser. 2025-CP1, Cl. A1<sup>(b)</sup>  | 3.75 | 11/25/2069 | 1631478 | 1573509 |
| NYMT Loan Trust, Ser. 2026-INV2, Cl. A1<sup>(b)</sup>  | 5.48 | 4/25/2061 | 2709164 | 2722025 |
| OBX Trust, Ser. 2024-NQM18, Cl. A1<sup>(b)</sup>  | 5.41 | 10/25/2064 | 1181533 | 1186824 |
| OBX Trust, Ser. 2025-NQM16, Cl. A1<sup>(b)</sup>  | 4.91 | 8/25/2065 | 3450174 | 3440364 |
| OBX Trust, Ser. 2025-NQM18, Cl. A1A<sup>(b)</sup>  | 5.06 | 9/25/2065 | 3622905 | 3622330 |
| OBX Trust, Ser. 2025-NQM19, Cl. A1<sup>(b)</sup>  | 4.87 | 10/25/2065 | 2732358 | 2718400 |
| OBX Trust, Ser. 2026-NQM6, Cl. A3<sup>(b)</sup>  | 5.42 | 4/26/2066 | 3375147 | 3369546 |
| PRPM LLC, Ser. 2025-RPL4, Cl. A1<sup>(b)</sup>  | 3.00 | 5/25/2055 | 2860514 | 2721721 |
| PRPM LLC, Ser. 2025-RPL4, Cl. A2<sup>(b)</sup>  | 3.00 | 5/25/2055 | 1819702 | 1696170 |
| Toorak Mortgage Trust, Ser. 2025-RRTL1, Cl. A1<sup>(b)</sup>  | 5.52 | 2/25/2040 | 3652909 | 3668918 |
| Towd Point Mortgage Trust, Ser. 2023-1, Cl. A1<sup>(b)</sup>  | 3.75 | 1/25/2063 | 773470 | 740730 |
| US Bank C&I Credit-Linked Notes, Ser. 2025-SUP2, Cl. B1<sup>(b)</sup>  | 4.82 | 9/25/2032 | 1588033 | 1579198 |

---

**6**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>|  | Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Commercial Mortgage-Backed — 4.9% (continued)** | **Commercial Mortgage-Backed — 4.9% (continued)** | **Commercial Mortgage-Backed — 4.9% (continued)** | **Commercial Mortgage-Backed — 4.9% (continued)** | **Commercial Mortgage-Backed — 4.9% (continued)** | **Commercial Mortgage-Backed — 4.9% (continued)** |
| **Commercial Mortgage Pass-Through Certificates — 4.9% (continued)** | **Commercial Mortgage Pass-Through Certificates — 4.9% (continued)** | **Commercial Mortgage Pass-Through Certificates — 4.9% (continued)** | **Commercial Mortgage Pass-Through Certificates — 4.9% (continued)** | **Commercial Mortgage Pass-Through Certificates — 4.9% (continued)** | **Commercial Mortgage Pass-Through Certificates — 4.9% (continued)** |
| Verus Securitization Trust, Ser. 2024-9, Cl. A1<sup>(b)</sup>  | 5.44 | 11/25/2069 |  | 1710161 | 1718447 |
| Verus Securitization Trust, Ser. 2026-2, Cl. A3<sup>(b)</sup>  | 5.05 | 2/25/2071 |  | 4054635 | 4014763 |
| **Total Commercial Mortgage-Backed** <br>(cost $125,498,286) | **Total Commercial Mortgage-Backed** <br>(cost $125,498,286) | **Total Commercial Mortgage-Backed** <br>(cost $125,498,286) |  |  | **125508329** |
| **Convertible Corporate Bonds and Notes — 1.6%** | **Convertible Corporate Bonds and Notes — 1.6%** | **Convertible Corporate Bonds and Notes — 1.6%** | **Convertible Corporate Bonds and Notes — 1.6%** | **Convertible Corporate Bonds and Notes — 1.6%** | **Convertible Corporate Bonds and Notes — 1.6%** |
| **Aerospace & Defense — .0%** | **Aerospace & Defense — .0%** | **Aerospace & Defense — .0%** | **Aerospace & Defense — .0%** | **Aerospace & Defense — .0%** | **Aerospace & Defense — .0%** |
| AeroVironment, Inc., Sr. Unscd. Notes<sup>(d)</sup>  | 0.00 | 7/15/2030 |  | 300000 | 305100 |
| Rheinmetall AG, Sr. Unscd. Bonds, Ser. B | 2.25 | 2/7/2030 | EUR<br>| 100000 | 515299 |
|  |  |  |  |  | **820399** |
| **Banks — .1%** | **Banks — .1%** | **Banks — .1%** | **Banks — .1%** | **Banks — .1%** | **Banks — .1%** |
| Goldman Sachs Finance Corp. International Ltd., Gtd. Bonds<sup>(d)</sup>  | 0.00 | 5/7/2030 | EUR<br>| 700000 | 1169366 |
| Goldman Sachs Finance Corp. International Ltd., Gtd. Notes, Ser. <br> 700h<sup>(d),(e)</sup> <br>| 0.00 | 3/7/2030 |  | 300000 | 301261 |
| Morgan Stanley Finance LLC, Gtd. Notes, Ser. 1<sup>(d)</sup>  | 0.00 | 4/10/2028 |  | 400000 | 570325 |
|  |  |  |  |  | **2040952** |
| **Chemicals — .0%** | **Chemicals — .0%** | **Chemicals — .0%** | **Chemicals — .0%** | **Chemicals — .0%** | **Chemicals — .0%** |
| LG Chem Ltd., Sr. Unscd. Notes | 1.75 | 6/16/2028 |  | 200000 | **270000** |
| **Consumer Discretionary — .0%** | **Consumer Discretionary — .0%** | **Consumer Discretionary — .0%** | **Consumer Discretionary — .0%** | **Consumer Discretionary — .0%** | **Consumer Discretionary — .0%** |
| Liberty Media Corp.-Liberty Formula One, Sr. Unscd. Notes | 2.25 | 8/15/2027 |  | 500000 | 585250 |
| NCL Corp. Ltd., Gtd. Notes<sup>(b)</sup>  | 0.75 | 9/15/2030 |  | 100000 | 93717 |
| NCL Corp., Ltd., Gtd. Notes | 0.88 | 4/15/2030 |  | 200000 | 210750 |
|  |  |  |  |  | **889717** |
| **Diversified Financials — .0%** | **Diversified Financials — .0%** | **Diversified Financials — .0%** | **Diversified Financials — .0%** | **Diversified Financials — .0%** | **Diversified Financials — .0%** |
| Cipher Digital, Inc., Sr. Unscd. Notes<sup>(b),(d)</sup>  | 0.00 | 10/1/2031 |  | 100000 | 139000 |
| Citigroup Global Markets Holdings, Inc., Gtd. Notes<sup>(b)</sup>  | 0.80 | 2/5/2030 | EUR<br>| 200000 | 246303 |
| IREN Ltd., Sr. Unscd. Notes, Ser. 33<sup>(b)</sup>  | 1.00 | 6/1/2033 |  | 200000 | 222350 |
|  |  |  |  |  | **607653** |
| **Electronic Components — .2%** | **Electronic Components — .2%** | **Electronic Components — .2%** | **Electronic Components — .2%** | **Electronic Components — .2%** | **Electronic Components — .2%** |
| Hon Hai Precision Industry Co. Ltd., Sr. Unscd. Bonds<sup>(d)</sup>  | 0.00 | 10/24/2029 |  | 400000 | 405400 |
| Ibiden Co. Ltd., Sr. Unscd. Bonds<sup>(d)</sup>  | 0.00 | 3/14/2031 | JPY<br>| 50000000 | 968829 |
| Legrand SA, Sr. Unscd. Bonds | 1.50 | 6/23/2033 | EUR<br>| 500000 | 682868 |
| Mirion Technologies, Inc., Sr. Unscd. Notes<sup>(b),(d)</sup>  | 0.00 | 10/1/2031 |  | 600000 | 595800 |
| OSI Systems, Inc., Sr. Unscd. Notes<sup>(b)</sup>  | 0.50 | 2/1/2031 |  | 550000 | 588885 |
| OSI Systems, Inc., Sr. Unscd. Notes | 2.25 | 8/1/2029 |  | 150000 | 245213 |
| Schneider Electric SE, Sr. Unscd. Notes, Ser. SUFP | 1.63 | 6/28/2031 | EUR<br>| 700000 | 918708 |
| Schneider Electric SE, Sr. Unscd. Notes, Ser. SUFP | 1.97 | 11/27/2030 | EUR<br>| 200000 | 320728 |
|  |  |  |  |  | **4726431** |
| **Energy — .1%** | **Energy — .1%** | **Energy — .1%** | **Energy — .1%** | **Energy — .1%** | **Energy — .1%** |
| Liberty Energy, Inc., Sr. Unscd. Notes<sup>(b),(d)</sup>  | 0.00 | 3/1/2031 |  | 300000 | 361650 |
| Liberty Energy, Inc., Sr. Unscd. Notes<sup>(b),(d)</sup>  | 0.00 | 3/1/2032 |  | 24000 | 27102 |
| Northern Oil & Gas, Inc., Sr. Unscd. Notes | 3.63 | 4/15/2029 |  | 900000 | 957600 |
|  |  |  |  |  | **1346352** |
| **Environmental Control — .0%** | **Environmental Control — .0%** | **Environmental Control — .0%** | **Environmental Control — .0%** | **Environmental Control — .0%** | **Environmental Control — .0%** |
| Tetra Tech, Inc., Sr. Unscd. Notes | 2.25 | 8/15/2028 |  | 200000 | **219070** |
| **Health Care — .2%** | **Health Care — .2%** | **Health Care — .2%** | **Health Care — .2%** | **Health Care — .2%** | **Health Care — .2%** |
| Alnylam Pharmaceuticals, Inc., Sr. Unscd. Notes<sup>(b),(d)</sup>  | 0.00 | 9/15/2028 |  | 600000 | 557625 |
| ANI Pharmaceuticals, Inc., Sr. Unscd. Notes | 2.25 | 9/1/2029 |  | 700000 | 893182 |
| Arrowhead Pharmaceuticals, Inc., Sr. Unscd. Notes<sup>(d)</sup>  | 0.00 | 1/15/2032 |  | 300000 | 342120 |
| Bridgebio Pharma, Inc., Sr. Unscd. Notes<sup>(b)</sup>  | 0.75 | 2/1/2033 |  | 100000 | 99490 |
| Bridgebio Pharma, Inc., Sr. Unscd. Notes | 2.25 | 2/1/2029 |  | 200000 | 222570 |

---

**7**

------

SCHEDULE OF INVESTMENTS (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>|  | Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Convertible Corporate Bonds and Notes — 1.6% (continued)** | **Convertible Corporate Bonds and Notes — 1.6% (continued)** | **Convertible Corporate Bonds and Notes — 1.6% (continued)** | **Convertible Corporate Bonds and Notes — 1.6% (continued)** | **Convertible Corporate Bonds and Notes — 1.6% (continued)** | **Convertible Corporate Bonds and Notes — 1.6% (continued)** |
| **Health Care — .2% (continued)** | **Health Care — .2% (continued)** | **Health Care — .2% (continued)** | **Health Care — .2% (continued)** | **Health Care — .2% (continued)** | **Health Care — .2% (continued)** |
| CorMedix, Inc., Sr. Unscd. Bonds<sup>(b)</sup>  | 4.00 | 8/1/2030 |  | 100000 | 99160 |
| Halozyme Therapeutics, Inc., Sr. Unscd. Notes<sup>(b),(d)</sup>  | 0.00 | 2/15/2031 |  | 200000 | 194800 |
| Halozyme Therapeutics, Inc., Sr. Unscd. Notes | 1.00 | 8/15/2028 |  | 200000 | 254900 |
| Indivior Pharmaceuticals, Inc., Sr. Unscd. Notes<sup>(b)</sup>  | 0.63 | 3/15/2031 |  | 200000 | 227780 |
| Ionis Pharmaceuticals, Inc., Sr. Unscd. Notes<sup>(b),(d)</sup>  | 0.00 | 12/1/2030 |  | 750000 | 779531 |
| QIAGEN NV, Sr. Unscd. Bonds | 2.50 | 9/10/2031 |  | 200000 | 196550 |
|  |  |  |  |  | **3867708** |
| **Industrial — .2%** | **Industrial — .2%** | **Industrial — .2%** | **Industrial — .2%** | **Industrial — .2%** | **Industrial — .2%** |
| BWX Technologies, Inc., Gtd. Notes<sup>(b),(d)</sup>  | 0.00 | 11/1/2030 |  | 700000 | 758800 |
| Daifuku Co. Ltd., Sr. Unscd. Bonds, Ser. 2028<sup>(d)</sup>  | 0.00 | 9/14/2028 | JPY<br>| 50000000 | 622784 |
| Daifuku Co. Ltd., Sr. Unscd. Notes, Ser. 2030<sup>(d)</sup>  | 0.00 | 9/13/2030 | JPY<br>| 30000000 | 381336 |
| Ferrovial SE, Sr. Unscd. Bonds | 0.75 | 5/20/2031 | EUR<br>| 600000 | 727247 |
| Fluor Corp., Sr. Unscd. Notes | 1.13 | 8/15/2029 |  | 300000 | 403125 |
| Granite Construction, Inc., Sr. Unscd. Notes | 3.25 | 6/15/2030 |  | 550000 | 1014062 |
| SPIE SA, Sr. Unscd. Bonds | 2.00 | 1/17/2028 | EUR<br>| 300000 | 534105 |
| Vinci SA, Sr. Unscd. Bonds | 0.70 | 2/18/2030 | EUR<br>| 600000 | 764127 |
|  |  |  |  |  | **5205586** |
| **Information Technology — .1%** | **Information Technology — .1%** | **Information Technology — .1%** | **Information Technology — .1%** | **Information Technology — .1%** | **Information Technology — .1%** |
| Cloudflare, Inc., Sr. Unscd. Notes<sup>(d)</sup>  | 0.00 | 8/15/2026 |  | 300000 | 349135 |
| Datadog, Inc., Sr. Unscd. Notes<sup>(d)</sup>  | 0.00 | 12/1/2029 |  | 500000 | 504625 |
| DigitalOcean Holdings, Inc., Sr. Unscd. Notes<sup>(b),(d)</sup>  | 0.00 | 8/15/2030 |  | 300000 | 773700 |
| Nebius Group NV, Sr. Unscd. Notes<sup>(b)</sup>  | 1.00 | 9/15/2030 |  | 250000 | 323825 |
| Nebius Group NV, Sr. Unscd. Notes<sup>(b)</sup>  | 2.75 | 9/15/2032 |  | 200000 | 253800 |
| Snowflake, Inc., Sr. Unscd. Notes<sup>(d)</sup>  | 0.00 | 10/1/2027 |  | 500000 | 571000 |
| Strategy, Inc., Sr. Unscd. Notes | 2.25 | 6/15/2032 |  | 250000 | 305475 |
|  |  |  |  |  | **3081560** |
| **Insurance — .0%** | **Insurance — .0%** | **Insurance — .0%** | **Insurance — .0%** | **Insurance — .0%** | **Insurance — .0%** |
| Ping An Insurance Group Co. of China Ltd., Sr. Unscd. Bonds<sup>(d)</sup>  | 0.00 | 6/11/2030 | HKD<br>| 2000000 | **313438** |
| **Internet Software & Services — .1%** | **Internet Software & Services — .1%** | **Internet Software & Services — .1%** | **Internet Software & Services — .1%** | **Internet Software & Services — .1%** | **Internet Software & Services — .1%** |
| Alibaba Group Holding Ltd., Sr. Unscd. Notes<sup>(d)</sup>  | 0.00 | 9/15/2032 |  | 600000 | 599700 |
| Alibaba Group Holding Ltd., Sr. Unscd. Notes | 0.50 | 6/1/2031 |  | 150000 | 216788 |
| DoorDash, Inc., Sr. Unscd. Notes<sup>(b),(d)</sup>  | 0.00 | 5/15/2030 |  | 700000 | 669200 |
| Uber Technologies, Inc., Sr. Scd. Notes<sup>(b),(d)</sup>  | 0.00 | 5/15/2028 |  | 200000 | 219010 |
| Uber Technologies, Inc., Sr. Unscd. Notes, Ser. 2028 | 0.88 | 12/1/2028 |  | 500000 | 612125 |
|  |  |  |  |  | **2316823** |
| **Metals & Mining — .1%** | **Metals & Mining — .1%** | **Metals & Mining — .1%** | **Metals & Mining — .1%** | **Metals & Mining — .1%** | **Metals & Mining — .1%** |
| Endeavour Silver Corp., Sr. Unscd. Bonds<sup>(b)</sup>  | 0.25 | 1/15/2031 |  | 200000 | 219100 |
| Energy Fuels, Inc., Sr. Unscd. Notes<sup>(b)</sup>  | 0.75 | 11/1/2031 |  | 300000 | 400800 |
| MMG Ltd., Sr. Unscd. Bonds<sup>(d)</sup>  | 0.00 | 10/8/2030 |  | 400000 | 484700 |
| MP Materials Corp., Sr. Unscd. Bonds<sup>(b)</sup>  | 3.00 | 3/1/2030 |  | 100000 | 315950 |
| Salzgitter AG, Sr. Unscd. Notes | 3.38 | 10/22/2032 | EUR<br>| 100000 | 166037 |
| voestalpine AG, Sr. Unscd. Bonds | 2.75 | 4/28/2028 | EUR<br>| 400000 | 565642 |
|  |  |  |  |  | **2152229** |
| **Real Estate — .0%** | **Real Estate — .0%** | **Real Estate — .0%** | **Real Estate — .0%** | **Real Estate — .0%** | **Real Estate — .0%** |
| Compass, Inc., Gtd. Notes<sup>(b)</sup>  | 0.25 | 4/15/2031 |  | 500000 | **440250** |
| **Retailing — .0%** | **Retailing — .0%** | **Retailing — .0%** | **Retailing — .0%** | **Retailing — .0%** | **Retailing — .0%** |
| MINISO Group Holding Ltd., Sr. Unscd. Notes | 0.50 | 1/14/2032 |  | 200000 | **185850** |
| **Semiconductors & Semiconductor Equipment — .1%** | **Semiconductors & Semiconductor Equipment — .1%** | **Semiconductors & Semiconductor Equipment — .1%** | **Semiconductors & Semiconductor Equipment — .1%** | **Semiconductors & Semiconductor Equipment — .1%** | **Semiconductors & Semiconductor Equipment — .1%** |
| BE Semiconductor Industries NV, Sr. Unscd. Notes | 1.88 | 4/6/2029 | EUR<br>| 300000 | 769461 |

---

**8**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>|  | Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Convertible Corporate Bonds and Notes — 1.6% (continued)** | **Convertible Corporate Bonds and Notes — 1.6% (continued)** | **Convertible Corporate Bonds and Notes — 1.6% (continued)** | **Convertible Corporate Bonds and Notes — 1.6% (continued)** | **Convertible Corporate Bonds and Notes — 1.6% (continued)** | **Convertible Corporate Bonds and Notes — 1.6% (continued)** |
| **Semiconductors & Semiconductor Equipment — .1% (continued)** | **Semiconductors & Semiconductor Equipment — .1% (continued)** | **Semiconductors & Semiconductor Equipment — .1% (continued)** | **Semiconductors & Semiconductor Equipment — .1% (continued)** | **Semiconductors & Semiconductor Equipment — .1% (continued)** | **Semiconductors & Semiconductor Equipment — .1% (continued)** |
| MACOM Technology Solutions Holdings, Inc., Sr. Unscd. Notes<sup>(d),(e)</sup>  | 0.00 | 12/15/2029 |  | 650000 | 1146275 |
| Veeco Instruments, Inc., Sr. Unscd. Notes | 2.88 | 6/1/2029 |  | 300000 | 548175 |
|  |  |  |  |  | **2463911** |
| **Technology Hardware & Equipment — .2%** | **Technology Hardware & Equipment — .2%** | **Technology Hardware & Equipment — .2%** | **Technology Hardware & Equipment — .2%** | **Technology Hardware & Equipment — .2%** | **Technology Hardware & Equipment — .2%** |
| CyberArk Software Ltd., Gtd. Notes<sup>(b),(d)</sup>  | 0.00 | 6/15/2030 |  | 900000 | 982080 |
| Ferrotec Corp., Sr. Unscd. Bonds<sup>(d)</sup>  | 0.00 | 6/23/2028 | JPY<br>| 50000000 | 676440 |
| Lumentum Holdings, Inc., Sr. Unscd. Notes<sup>(b)</sup>  | 0.38 | 3/15/2032 |  | 165000 | 808648 |
| Parsons Corp., Sr. Unscd. Notes | 2.63 | 3/1/2029 |  | 400000 | 393800 |
| Seagate HDD Cayman, Gtd. Notes | 3.50 | 6/1/2028 |  | 40000 | 325930 |
| Western Digital Corp., Gtd. Notes | 3.00 | 11/15/2028 |  | 65000 | 747211 |
| Zscaler, Inc., Sr. Unscd. Notes<sup>(b),(d)</sup>  | 0.00 | 7/15/2028 |  | 250000 | 227375 |
|  |  |  |  |  | **4161484** |
| **Telecommunication Services — .0%** | **Telecommunication Services — .0%** | **Telecommunication Services — .0%** | **Telecommunication Services — .0%** | **Telecommunication Services — .0%** | **Telecommunication Services — .0%** |
| A10 Networks, Inc., Sr. Unscd. Notes | 2.75 | 4/1/2030 |  | 300000 | 397359 |
| AST SpaceMobile, Inc., Sr. Unscd. Notes<sup>(b)</sup>  | 2.25 | 4/15/2036 |  | 300000 | 280200 |
| AST SpaceMobile, Inc., Sr. Unscd. Notes<sup>(b)</sup>  | 2.38 | 10/15/2032 |  | 200000 | 278350 |
|  |  |  |  |  | **955909** |
| **Utilities — .2%** | **Utilities — .2%** | **Utilities — .2%** | **Utilities — .2%** | **Utilities — .2%** | **Utilities — .2%** |
| CenterPoint Energy, Inc., Sr. Unscd. Notes<sup>(b)</sup>  | 2.88 | 5/15/2029 |  | 100000 | 100960 |
| CMS Energy Corp., Sr. Unscd. Notes | 3.38 | 5/1/2028 |  | 700000 | 784875 |
| Duke Energy Corp., Sr. Unscd. Notes<sup>(b)</sup>  | 3.00 | 3/15/2029 |  | 1000000 | 997250 |
| Evergy, Inc., Sr. Unscd. Notes | 4.50 | 12/15/2027 |  | 500000 | 682125 |
| Iberdrola Finanzas SA, Gtd. Notes, Ser. IBE<sup>(e)</sup>  | 1.50 | 3/27/2030 | EUR<br>| 600000 | 819266 |
| NextEra Energy Capital Holdings, Inc., Gtd. Notes | 3.00 | 3/1/2027 |  | 700000 | 1018325 |
| Ormat Technologies, Inc., Sr. Unscd. Notes | 2.50 | 7/15/2027 |  | 700000 | 938420 |
|  |  |  |  |  | **5341221** |
| **Total Convertible Corporate Bonds and Notes** <br>(cost $36,813,881) | **Total Convertible Corporate Bonds and Notes** <br>(cost $36,813,881) | **Total Convertible Corporate Bonds and Notes** <br>(cost $36,813,881) |  |  | **41406543** |
| **Corporate Bonds and Notes — 42.1%** | **Corporate Bonds and Notes — 42.1%** | **Corporate Bonds and Notes — 42.1%** | **Corporate Bonds and Notes — 42.1%** | **Corporate Bonds and Notes — 42.1%** | **Corporate Bonds and Notes — 42.1%** |
| **Advertising — .3%** | **Advertising — .3%** | **Advertising — .3%** | **Advertising — .3%** | **Advertising — .3%** | **Advertising — .3%** |
| Omnicom Group, Inc., Sr. Unscd. Notes | 5.30 | 6/2/2036 |  | 7814000 | **7556208** |
| **Aerospace & Defense — .2%** | **Aerospace & Defense — .2%** | **Aerospace & Defense — .2%** | **Aerospace & Defense — .2%** | **Aerospace & Defense — .2%** | **Aerospace & Defense — .2%** |
| The Boeing Company, Sr. Unscd. Notes | 5.81 | 5/1/2050 |  | 5601000 | **5461383** |
| **Agriculture — .2%** | **Agriculture — .2%** | **Agriculture — .2%** | **Agriculture — .2%** | **Agriculture — .2%** | **Agriculture — .2%** |
| BAT Capital Corp., Gtd. Notes | 6.34 | 8/2/2030 |  | 1546000 | 1648572 |
| BAT Capital Corp., Gtd. Notes | 7.08 | 8/2/2053 |  | 3101000 | 3434177 |
|  |  |  |  |  | **5082749** |
| **Airlines — .9%** | **Airlines — .9%** | **Airlines — .9%** | **Airlines — .9%** | **Airlines — .9%** | **Airlines — .9%** |
| Air Canada Pass-Through Trust, Ser. 2020-2, Cl. A<sup>(b)</sup>  | 5.25 | 4/1/2029 |  | 643133 | 648949 |
| American Airlines Pass-Through Trust, Ser. 2017-1, Cl. AA | 3.65 | 2/15/2029 |  | 113500 | 110862 |
| American Airlines Pass-Through Trust, Ser. 2017-2, Cl. AA | 3.35 | 10/15/2029 |  | 163302 | 157411 |
| American Airlines Pass-Through Trust, Ser. 2019-1, Cl. AA | 3.15 | 2/15/2032 |  | 1522175 | 1428224 |
| American Airlines Pass-Through Trust, Ser. 2025-1, Cl. A | 4.90 | 5/11/2038 |  | 2267000 | 2218478 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., Sr. Scd. Notes<sup>(b)</sup>  | 5.75 | 4/20/2029 |  | 4843000 | 4849824 |
| Avianca Midco 2 PLC, Sr. Scd. Notes<sup>(b),(e)</sup>  | 9.63 | 2/14/2030 |  | 3451000 | 3255587 |
| Delta Air Lines, Inc./SkyMiles IP Ltd., Sr. Scd. Notes<sup>(b)</sup>  | 4.75 | 10/20/2028 |  | 1674167 | 1675845 |
| JetBlue Pass-Through Trust, Ser. 2020-1, Cl. A | 4.00 | 11/15/2032 |  | 5349553 | 5056651 |
| United Airlines Pass-Through Trust, Ser. 2019-1, Cl. AA | 4.15 | 8/25/2031 |  | 727488 | 711873 |
| United Airlines Pass-Through Trust, Ser. 2020-1, Cl. A | 5.88 | 10/15/2027 |  | 472021 | 480731 |

---

**9**

------

SCHEDULE OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** |
| **Airlines — .9% (continued)** | **Airlines — .9% (continued)** | **Airlines — .9% (continued)** | **Airlines — .9% (continued)** | **Airlines — .9% (continued)** |
| United Airlines Pass-Through Trust, Ser. 2023-1, Cl. A | 5.80 | 1/15/2036 | 1761155 | 1831379 |
| United Airlines, Inc., Sr. Scd. Notes<sup>(b)</sup>  | 4.63 | 4/15/2029 | 1436000 | 1418388 |
|  |  |  |  | **23844202** |
| **Automobiles & Components — 1.9%** | **Automobiles & Components — 1.9%** | **Automobiles & Components — 1.9%** | **Automobiles & Components — 1.9%** | **Automobiles & Components — 1.9%** |
| American Axle & Manufacturing, Inc., Sr. Scd. Notes<sup>(b)</sup>  | 6.38 | 10/15/2032 | 1466000 | 1464062 |
| Clarios Global LP/Clarios US Finance Co., Sr. Scd. Notes<sup>(b)</sup>  | 6.75 | 2/15/2030 | 2170000 | 2242934 |
| Ford Motor Credit Co. LLC, Sr. Unscd. Notes | 4.54 | 8/1/2026 | 3004000 | 3003793 |
| Ford Motor Credit Co. LLC, Sr. Unscd. Notes | 5.80 | 3/5/2027 | 2491000 | 2509052 |
| Ford Motor Credit Co. LLC, Sr. Unscd. Notes | 5.80 | 3/8/2029 | 4850000 | 4917677 |
| Ford Motor Credit Co. LLC, Sr. Unscd. Notes<sup>(e)</sup>  | 5.87 | 10/31/2035 | 3817000 | 3721537 |
| Ford Motor Credit Co. LLC, Sr. Unscd. Notes | 5.92 | 3/20/2028 | 6901000 | 6997089 |
| Forvia SE, Sr. Unscd. Notes<sup>(b)</sup>  | 6.75 | 9/15/2033 | 5135000 | 5152443 |
| General Motors Financial Co., Inc., Sr. Unscd. Notes | 4.20 | 10/27/2028 | 811000 | 804520 |
| General Motors Financial Co., Inc., Sr. Unscd. Notes | 5.63 | 4/4/2032 | 5007000 | 5137449 |
| General Motors Financial Co., Inc., Sr. Unscd. Notes | 5.90 | 1/7/2035 | 5839000 | 5997408 |
| IHO Verwaltungs GmbH, Sr. Scd. Notes<sup>(b),(f)</sup>  | 7.38 | 5/15/2033 | 300000 | 305263 |
| Tenneco, Inc., Sr. Scd. Notes<sup>(b)</sup>  | 8.00 | 11/17/2028 | 2375000 | 2404597 |
| The Goodyear Tire & Rubber Company, Gtd. Notes | 5.00 | 7/15/2029 | 4660000 | 4473068 |
|  |  |  |  | **49130892** |
| **Banks — 6.0%** | **Banks — 6.0%** | **Banks — 6.0%** | **Banks — 6.0%** | **Banks — 6.0%** |
| Bank of America Corp., Sr. Unscd. Notes | 5.29 | 4/25/2034 | 6132000 | 6228704 |
| Bank of America Corp., Sr. Unscd. Notes | 5.47 | 1/23/2035 | 2261000 | 2310706 |
| Bank of America Corp., Sub. Notes | 5.52 | 10/25/2035 | 6260000 | 6309319 |
| Canadian Imperial Bank of Commerce, Jr. Sub. Notes | 6.50 | 7/28/2086 | 4369000 | 4357072 |
| Citizens Financial Group, Inc., Sr. Unscd. Notes | 5.72 | 7/23/2032 | 3648000 | 3759481 |
| Citizens Financial Group, Inc., Sr. Unscd. Notes | 5.84 | 1/23/2030 | 1264000 | 1300966 |
| Citizens Financial Group, Inc., Sr. Unscd. Notes | 6.65 | 4/25/2035 | 1712000 | 1841948 |
| Citizens Financial Group, Inc., Sub. Notes | 5.30 | 1/29/2036 | 398000 | 394661 |
| Danske Bank A/S, Sr. Notes<sup>(b)</sup>  | 5.71 | 3/1/2030 | 6259000 | 6433916 |
| HSBC Holdings PLC, Jr. Sub. Notes<sup>(g)</sup>  | 7.00 | 9/24/2035 | 3146000 | 3211327 |
| Huntington Bancshares, Inc., Sr. Unscd. Notes | 5.27 | 1/15/2031 | 3577000 | 3637129 |
| ING Groep NV, Jr. Sub. Bonds<sup>(g)</sup>  | 7.00 | 11/16/2032 | 3627000 | 3761373 |
| JPMorgan Chase & Co., Sr. Unscd. Notes | 2.58 | 4/22/2032 | 5300000 | 4797159 |
| JPMorgan Chase & Co., Sr. Unscd. Notes | 5.30 | 7/24/2029 | 3656000 | 3717444 |
| Morgan Stanley, Sr. Unscd. Notes | 4.43 | 1/23/2030 | 6852000 | 6819676 |
| Morgan Stanley, Sub. Notes | 2.48 | 9/16/2036 | 9465000 | 8196626 |
| Royal Bank of Canada, Jr. Sub. Notes | 6.50 | 5/24/2086 | 3565000 | 3531908 |
| Royal Bank of Canada, Jr. Sub. Notes | 6.75 | 8/24/2085 | 2450000 | 2494823 |
| Santander Holdings USA, Inc., Sr. Unscd. Notes | 6.50 | 3/9/2029 | 875000 | 902504 |
| The Bank of Nova Scotia, Jr. Sub. Notes | 7.35 | 4/27/2085 | 5835000 | 6043473 |
| The Goldman Sachs Group, Inc., Sr. Unscd. Notes | 3.69 | 6/5/2028 | 700000 | 694221 |
| The Goldman Sachs Group, Inc., Sr. Unscd. Notes | 3.81 | 4/23/2029 | 1205000 | 1188117 |
| The Goldman Sachs Group, Inc., Sr. Unscd. Notes | 4.48 | 8/23/2028 | 1810000 | 1810936 |
| The Goldman Sachs Group, Inc., Sub. Notes | 6.75 | 10/1/2037 | 9810000 | 10659964 |
| The PNC Financial Services Group, Inc., Sr. Unscd. Notes | 5.30 | 1/21/2028 | 2278000 | 2292793 |
| Truist Bank, Sub. Notes | 4.63 | 9/17/2029 | 6880000 | 6837193 |
| Truist Financial Corp., Sr. Unscd. Notes<sup>(e)</sup>  | 4.96 | 10/23/2036 | 12564000 | 12146577 |
| Truist Financial Corp., Sr. Unscd. Notes | 5.71 | 1/24/2035 | 4765000 | 4905170 |
| U.S. Bancorp, Sr. Unscd. Notes | 5.68 | 1/23/2035 | 3734000 | 3860026 |
| U.S. Bancorp, Sr. Unscd. Notes | 5.84 | 6/12/2034 | 1165000 | 1217106 |

---

**10**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** |
| **Banks — 6.0% (continued)** | **Banks — 6.0% (continued)** | **Banks — 6.0% (continued)** | **Banks — 6.0% (continued)** | **Banks — 6.0% (continued)** |
| UBS Group AG, Sr. Unscd. Notes<sup>(b)</sup>  | 3.09 | 5/14/2032 | 722000 | 663719 |
| UBS Group AG, Sr. Unscd. Notes<sup>(b)</sup>  | 5.70 | 2/8/2035 | 2399000 | 2470036 |
| Wells Fargo & Co., Sr. Unscd. Notes | 5.20 | 1/23/2030 | 2257000 | 2295522 |
| Wells Fargo & Co., Sr. Unscd. Notes | 5.39 | 4/24/2034 | 6330000 | 6445854 |
| Wells Fargo & Co., Sr. Unscd. Notes | 5.57 | 7/25/2029 | 3779000 | 3862720 |
| Wells Fargo & Co., Sr. Unscd. Notes | 6.49 | 10/23/2034 | 6190000 | 6709877 |
| Western Alliance Bank, Sub. Notes | 6.54 | 11/15/2035 | 6310000 | 6242451 |
|  |  |  |  | **154352497** |
| **Beverage Products — .0%** | **Beverage Products — .0%** | **Beverage Products — .0%** | **Beverage Products — .0%** | **Beverage Products — .0%** |
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., Gtd. <br> Notes<br>| 4.70 | 2/1/2036 | 1385000 | **1353739** |
| **Building Materials — .2%** | **Building Materials — .2%** | **Building Materials — .2%** | **Building Materials — .2%** | **Building Materials — .2%** |
| Owens Corning, Sr. Unscd. Notes | 3.50 | 2/15/2030 | 368000 | 353671 |
| Smyrna Ready Mix Concrete LLC, Sr. Scd. Notes<sup>(b)</sup>  | 8.88 | 11/15/2031 | 4837000 | 5067445 |
|  |  |  |  | **5421116** |
| **Chemicals — .8%** | **Chemicals — .8%** | **Chemicals — .8%** | **Chemicals — .8%** | **Chemicals — .8%** |
| LYB International Finance III LLC, Gtd. Notes | 5.13 | 1/15/2031 | 1700000 | 1710759 |
| Olin Corp., Sr. Unscd. Notes<sup>(b)</sup>  | 6.63 | 4/1/2033 | 2320000 | 2301201 |
| Sasol Financing USA LLC, Gtd. Notes<sup>(b)</sup>  | 8.75 | 4/10/2033 | 2556000 | 2701245 |
| Syensqo Finance America LLC, Gtd. Notes<sup>(b)</sup>  | 5.85 | 6/4/2034 | 3672000 | 3746033 |
| The Dow Chemical Company, Sr. Unscd. Notes | 4.80 | 1/15/2031 | 6109000 | 6050452 |
| The Mosaic Company, Sr. Unscd. Notes | 4.60 | 11/15/2030 | 3268000 | 3241231 |
|  |  |  |  | **19750921** |
| **Commercial & Professional Services — 1.4%** | **Commercial & Professional Services — 1.4%** | **Commercial & Professional Services — 1.4%** | **Commercial & Professional Services — 1.4%** | **Commercial & Professional Services — 1.4%** |
| Albion Financing 1 Sarl/Aggreko Holdings, Inc., Sr. Scd. Notes<sup>(b)</sup>  | 7.00 | 5/21/2030 | 3523000 | 3641091 |
| Ashtead Capital, Inc., Gtd. Notes<sup>(b)</sup>  | 4.00 | 5/1/2028 | 1386000 | 1367414 |
| Ashtead Capital, Inc., Gtd. Notes<sup>(b)</sup>  | 5.95 | 10/15/2033 | 2656000 | 2758747 |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., Gtd. Notes<sup>(b),(e)</sup>  | 8.25 | 1/15/2030 | 4765000 | 4895228 |
| Belron UK Finance PLC, Sr. Scd. Notes<sup>(b)</sup>  | 5.75 | 10/15/2029 | 720000 | 727683 |
| DP World Ltd./United Arab Emirates, Sr. Unscd. Notes | 6.85 | 7/2/2037 | 690000 | 742688 |
| ERAC USA Finance LLC, Gtd. Notes<sup>(b)</sup>  | 5.20 | 10/30/2034 | 2830000 | 2865769 |
| Global Payments, Inc., Sr. Unscd. Notes | 5.55 | 11/15/2035 | 3082000 | 2974316 |
| Herc Holdings, Inc., Gtd. Notes<sup>(b)</sup>  | 5.75 | 3/15/2031 | 5062000 | 5077166 |
| President & Fellows of Harvard College, Unscd. Bonds | 3.30 | 7/15/2056 | 4400000 | 2968849 |
| The Leland Stanford Junior University, Unscd. Bonds | 2.41 | 6/1/2050 | 5170000 | 3053386 |
| Triton Container International Ltd., Gtd. Notes<sup>(b)</sup>  | 3.15 | 6/15/2031 | 1146000 | 1038047 |
| United Rentals North America, Inc., Gtd. Notes<sup>(b)</sup>  | 5.38 | 11/15/2033 | 4238000 | 4194296 |
| Yale University, Unscd. Bonds, Ser. 2020 | 2.40 | 4/15/2050 | 1241000 | 725196 |
|  |  |  |  | **37029876** |
| **Consumer Discretionary — 1.3%** | **Consumer Discretionary — 1.3%** | **Consumer Discretionary — 1.3%** | **Consumer Discretionary — 1.3%** | **Consumer Discretionary — 1.3%** |
| Carnival Corp., Gtd. Notes<sup>(b),(e)</sup>  | 6.13 | 2/15/2033 | 6305000 | 6400896 |
| D.R. Horton, Inc., Gtd. Notes | 5.50 | 10/15/2035 | 3672000 | 3749974 |
| Flutter Treasury DAC, Sr. Scd. Bonds<sup>(b),(e)</sup>  | 5.88 | 6/4/2031 | 5122000 | 5106839 |
| Las Vegas Sands Corp., Sr. Unscd. Notes | 3.50 | 8/18/2026 | 5000000 | 4987581 |
| Light & Wonder International, Inc., Gtd. Notes<sup>(b)</sup>  | 6.25 | 10/1/2033 | 1926000 | 1911069 |
| NCL Corp. Ltd., Sr. Unscd. Notes<sup>(b),(e)</sup>  | 6.75 | 2/1/2032 | 5578000 | 5555346 |
| Royal Caribbean Cruises Ltd., Sr. Unscd. Notes | 5.38 | 1/15/2036 | 1117000 | 1098079 |
| Taylor Morrison Communities, Inc., Gtd. Notes<sup>(b)</sup>  | 5.75 | 11/15/2032 | 1779000 | 1799683 |
| Wynn Macau Ltd., Sr. Unscd. Notes<sup>(b)</sup>  | 5.63 | 8/26/2028 | 2235000 | 2220338 |
|  |  |  |  | **32829805** |

---

**11**

------

SCHEDULE OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** |
| **Diversified Financials — 2.5%** | **Diversified Financials — 2.5%** | **Diversified Financials — 2.5%** | **Diversified Financials — 2.5%** | **Diversified Financials — 2.5%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Gtd. Notes | 6.50 | 1/31/2056 | 2414000 | 2459004 |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Gtd. Notes | 6.95 | 3/10/2055 | 778000 | 805974 |
| Aircastle Ltd./Aircastle Ireland DAC, Gtd. Notes<sup>(b)</sup>  | 5.00 | 9/15/2030 | 4445000 | 4443698 |
| Aircastle Ltd./Aircastle Ireland DAC, Gtd. Notes<sup>(b)</sup>  | 5.75 | 10/1/2031 | 1539000 | 1578223 |
| Ally Financial, Inc., Jr. Sub. Notes, Ser. D<sup>(g)</sup>  | 7.10 | 8/15/2031 | 3895000 | 3893375 |
| Apollo Debt Solutions BDC, Sr. Unscd. Notes<sup>(b)</sup>  | 5.20 | 12/8/2028 | 1246000 | 1233210 |
| Apollo Debt Solutions BDC, Sr. Unscd. Notes<sup>(b)</sup>  | 5.70 | 1/23/2031 | 1482000 | 1457225 |
| Ares Capital Corp., Sr. Unscd. Notes<sup>(e)</sup>  | 5.25 | 4/12/2031 | 4321000 | 4204364 |
| Blackstone Private Credit Fund, Sr. Unscd. Notes | 5.35 | 3/12/2031 | 8133000 | 7825849 |
| Blackstone Secured Lending Fund, Sr. Unscd. Notes | 2.85 | 9/30/2028 | 6775000 | 6356435 |
| Capital One Financial Corp., Sub. Notes | 6.18 | 1/30/2036 | 6219000 | 6336904 |
| Goldman Sachs BDC, Inc., Sr. Unscd. Notes | 5.10 | 1/28/2029 | 2934000 | 2877727 |
| LSEG Finance PLC, Gtd. Notes<sup>(b)</sup>  | 2.50 | 4/6/2031 | 291000 | 263432 |
| Lseg US Fin Corp., Gtd. Notes<sup>(b)</sup>  | 5.25 | 3/23/2036 | 1924000 | 1918034 |
| Macquarie Airfinance Holdings Ltd., Sr. Unscd. Notes<sup>(b)</sup>  | 5.20 | 3/27/2028 | 4971000 | 4994254 |
| Voya Financial, Inc., Gtd. Notes | 5.05 | 3/2/2036 | 7779000 | 7531732 |
| Voya Financial, Inc., Gtd. Notes | 5.70 | 7/15/2043 | 5090000 | 4904231 |
|  |  |  |  | **63083671** |
| **Electronic Components — .0%** | **Electronic Components — .0%** | **Electronic Components — .0%** | **Electronic Components — .0%** | **Electronic Components — .0%** |
| Jabil, Inc., Sr. Unscd. Notes | 4.75 | 2/1/2033 | 1379000 | **1343512** |
| **Energy — 5.8%** | **Energy — 5.8%** | **Energy — 5.8%** | **Energy — 5.8%** | **Energy — 5.8%** |
| Antero Midstream Partners LP/Antero Midstream Finance Corp., Gtd. <br> Bonds<sup>(b)</sup> <br>| 5.75 | 10/15/2033 | 2405000 | 2401627 |
| Archrock Services LP/Archrock Partners Finance Corp., Gtd. Notes<sup>(b)</sup>  | 6.00 | 2/1/2034 | 5115000 | 5150605 |
| Azule Energy Finance PLC, Gtd. Notes<sup>(b)</sup>  | 8.13 | 1/23/2030 | 2220000 | 2291801 |
| Cheniere Energy Partners LP, Gtd. Notes | 5.55 | 10/30/2035 | 2142000 | 2187937 |
| Cheniere Energy, Inc., Sr. Unscd. Notes | 5.65 | 4/15/2034 | 1317000 | 1357152 |
| CITGO Petroleum Corp., Sr. Scd. Notes<sup>(b)</sup>  | 8.38 | 1/15/2029 | 5449000 | 5610034 |
| Columbia Pipelines Holding Co. LLC, Sr. Unscd. Notes<sup>(b)</sup>  | 5.00 | 11/17/2032 | 3722000 | 3697358 |
| Coterra Energy, Inc., Sr. Unscd. Notes | 5.90 | 2/15/2055 | 2536000 | 2442014 |
| CVR Energy, Inc., Gtd. Bonds<sup>(b)</sup>  | 5.75 | 2/15/2028 | 1552000 | 1552359 |
| CVR Energy, Inc., Gtd. Notes<sup>(b)</sup>  | 7.88 | 2/15/2034 | 6418000 | 6441528 |
| Ecopetrol SA, Sr. Unscd. Notes | 7.75 | 2/1/2032 | 2505000 | 2568727 |
| Empresa Nacional del Petroleo, Sr. Unscd. Notes<sup>(b)</sup>  | 5.95 | 7/30/2034 | 681000 | 704753 |
| Enbridge, Inc., Sub. Notes | 7.38 | 3/15/2055 | 5806000 | 6142347 |
| Energean Israel Finance Ltd., Sr. Scd. Notes<sup>(b)</sup>  | 5.88 | 3/30/2031 | 2600000 | 2495750 |
| Energy Transfer LP, Jr. Sub. Notes | 6.75 | 2/15/2056 | 5088000 | 5126928 |
| Eni SpA, Sr. Unscd. Notes<sup>(b)</sup>  | 5.75 | 5/19/2035 | 1634000 | 1693689 |
| Enterprise Products Operating LLC, Gtd. Notes, Ser. E | 5.25 | 8/16/2077 | 2360000 | 2363257 |
| Global Partners LP/GLP Finance Corp., Gtd. Notes | 6.88 | 1/15/2029 | 1224000 | 1235919 |
| Global Partners LP/GLP Finance Corp., Gtd. Notes<sup>(b)</sup>  | 8.25 | 1/15/2032 | 6342000 | 6661320 |
| Harbour Energy PLC, Sr. Unscd. Notes<sup>(b)</sup>  | 6.33 | 4/1/2035 | 6065000 | 6244007 |
| HF Sinclair Corp., Sr. Unscd. Notes | 5.50 | 9/1/2032 | 2195000 | 2223336 |
| Howard Midstream Energy Partners LLC, Sr. Unscd. Notes<sup>(b)</sup>  | 7.38 | 7/15/2032 | 4437000 | 4638187 |
| Ithaca Energy North Sea PLC, Sr. Unscd. Notes<sup>(b)</sup>  | 8.13 | 10/15/2029 | 2765000 | 2890962 |
| Kinder Morgan, Inc., Gtd. Bonds | 5.15 | 6/1/2030 | 2163000 | 2212091 |
| Kodiak Gas Services LLC, Gtd. Notes<sup>(b)</sup>  | 6.50 | 10/1/2033 | 528000 | 540375 |
| Marathon Petroleum Corp., Sr. Unscd. Notes | 5.70 | 3/1/2035 | 4010000 | 4121504 |
| Medco Cypress Tree Pte Ltd., Sr. Scd. Bonds<sup>(b)</sup>  | 8.63 | 5/19/2030 | 1000000 | 1046994 |
| MPLX LP, Sr. Unscd. Notes | 4.13 | 3/1/2027 | 855000 | 853957 |

---

**12**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** |
| **Energy — 5.8% (continued)** | **Energy — 5.8% (continued)** | **Energy — 5.8% (continued)** | **Energy — 5.8% (continued)** | **Energy — 5.8% (continued)** |
| MPLX LP, Sr. Unscd. Notes | 4.80 | 2/15/2031 | 2461000 | 2465695 |
| MPLX LP, Sr. Unscd. Notes | 5.20 | 12/1/2047 | 1180000 | 1049502 |
| NGPL PipeCo LLC, Sr. Unscd. Notes<sup>(b)</sup>  | 3.25 | 7/15/2031 | 2644000 | 2426238 |
| NGPL PipeCo LLC, Sr. Unscd. Notes<sup>(b)</sup>  | 7.77 | 12/15/2037 | 6792000 | 7879061 |
| ONEOK, Inc., Gtd. Notes | 5.80 | 11/1/2030 | 1366000 | 1419413 |
| ONEOK, Inc., Gtd. Notes | 6.10 | 11/15/2032 | 779000 | 823669 |
| Pertamina Hulu Energi PT, Sr. Unscd. Notes<sup>(b)</sup>  | 5.25 | 5/21/2030 | 4799000 | 4852361 |
| Petroleos del Peru SA, Sr. Unscd. Notes<sup>(b)</sup>  | 4.75 | 6/19/2032 | 6220000 | 5042305 |
| Phillips 66 Co., Gtd. Notes, Ser. B | 6.20 | 3/15/2056 | 5046000 | 5065109 |
| Plains All American Pipeline LP/PAA Finance Corp., Sr. Unscd. Notes | 4.70 | 1/15/2031 | 1483000 | 1480008 |
| SM Energy Co., Gtd. Notes<sup>(b)</sup>  | 8.75 | 7/1/2031 | 4870000 | 5110744 |
| South Bow USA Infrastructure Holdings LLC, Gtd. Notes | 5.03 | 10/1/2029 | 2093000 | 2108336 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp., <br> Gtd. Notes<br>| 5.00 | 1/15/2028 | 1136000 | 1134544 |
| Tecpetrol SA, Sr. Unscd. Notes<sup>(b)</sup>  | 7.63 | 1/22/2033 | 2400000 | 2489400 |
| Venture Global Calcasieu Pass LLC, Sr. Scd. Notes<sup>(b)</sup>  | 3.88 | 11/1/2033 | 5505000 | 4908936 |
| Venture Global Plaquemines LNG LLC, Sr. Scd. Bonds<sup>(b)</sup>  | 6.13 | 12/15/2030 | 8191000 | 8451007 |
| Venture Global Plaquemines LNG LLC, Sr. Scd. Notes<sup>(b)</sup>  | 6.50 | 1/15/2034 | 855000 | 896802 |
| YPF SA, Sr. Unscd. Notes<sup>(b)</sup>  | 8.75 | 9/11/2031 | 2160000 | 2294892 |
|  |  |  |  | **146794540** |
| **Environmental Control — .0%** | **Environmental Control — .0%** | **Environmental Control — .0%** | **Environmental Control — .0%** | **Environmental Control — .0%** |
| GFL Environmental Holdings US, Inc., Gtd. Notes<sup>(b)</sup>  | 5.50 | 2/1/2034 | 1364000 | **1343443** |
| **Food Products — .9%** | **Food Products — .9%** | **Food Products — .9%** | **Food Products — .9%** | **Food Products — .9%** |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, <br> Gtd. Notes<sup>(b)</sup> <br>| 5.75 | 3/31/2034 | 878000 | 855846 |
| Froneri Lux FinCo Sarl, Sr. Scd. Notes<sup>(b)</sup>  | 6.00 | 8/1/2032 | 6350000 | 6284091 |
| Industrial F&B Investments III, Inc., Sr. Scd. Notes<sup>(b)</sup>  | 7.75 | 2/11/2033 | 5037000 | 5094100 |
| MARB BondCo PLC, Gtd. Bonds<sup>(b)</sup>  | 3.95 | 1/29/2031 | 898000 | 805422 |
| Post Holdings, Inc., Gtd. Notes<sup>(b)</sup>  | 6.38 | 3/1/2033 | 3705000 | 3705949 |
| The J.M. Smucker Company, Sr. Unscd. Notes | 4.25 | 3/15/2035 | 6000000 | 5573732 |
| The J.M. Smucker Company, Sr. Unscd. Notes<sup>(e)</sup>  | 6.50 | 11/15/2053 | 921000 | 966413 |
|  |  |  |  | **23285553** |
| **Health Care — 1.6%** | **Health Care — 1.6%** | **Health Care — 1.6%** | **Health Care — 1.6%** | **Health Care — 1.6%** |
| Amgen, Inc., Sr. Unscd. Notes | 5.65 | 3/2/2053 | 1659000 | 1596409 |
| Bayer US Finance II LLC, Gtd. Notes<sup>(b)</sup>  | 4.63 | 6/25/2038 | 1807000 | 1626809 |
| Bayer US Finance LLC, Gtd. Notes<sup>(b)</sup>  | 6.50 | 11/21/2033 | 2095000 | 2230833 |
| CVS Health Corp., Sr. Unscd. Notes | 1.30 | 8/21/2027 | 2627000 | 2524398 |
| Genmab A/S Genmab Finance LLC, Sr. Scd. Notes<sup>(b)</sup>  | 6.25 | 12/15/2032 | 3715000 | 3814655 |
| HCA, Inc., Gtd. Notes | 3.13 | 3/15/2027 | 851000 | 843117 |
| HCA, Inc., Gtd. Notes | 4.90 | 11/15/2035 | 5212000 | 5047033 |
| HCA, Inc., Gtd. Notes | 5.45 | 9/15/2034 | 1904000 | 1927960 |
| Royalty Pharma PLC, Gtd. Notes | 2.15 | 9/2/2031 | 2258000 | 1980386 |
| STERIS Irish FinCo UnLtd. Co., Gtd. Notes | 2.70 | 3/15/2031 | 3944000 | 3595592 |
| The Cigna Group, Gtd. Notes | 4.80 | 8/15/2038 | 7850000 | 7385773 |
| The Cigna Group, Sr. Unscd. Notes | 5.25 | 1/15/2036 | 3110000 | 3120972 |
| UnitedHealth Group, Inc., Sr. Unscd. Notes | 3.05 | 5/15/2041 | 2964000 | 2219703 |
| Zimmer Biomet Holdings, Inc., Sr. Unscd. Notes | 5.35 | 12/1/2028 | 2323000 | 2372890 |
|  |  |  |  | **40286530** |
| **Industrial — .2%** | **Industrial — .2%** | **Industrial — .2%** | **Industrial — .2%** | **Industrial — .2%** |
| DAE Funding LLC, Gtd. Notes<sup>(b)</sup>  | 4.95 | 1/15/2033 | 5029000 | **4838886** |

---

**13**

------

SCHEDULE OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** |
| **Information Technology — 1.3%** | **Information Technology — 1.3%** | **Information Technology — 1.3%** | **Information Technology — 1.3%** | **Information Technology — 1.3%** |
| CoreWeave, Inc., Gtd. Notes<sup>(b)</sup>  | 9.75 | 10/1/2031 | 1879000 | 1891346 |
| Fidelity National Information Services, Inc., Sr. Unscd. Notes | 4.80 | 3/10/2031 | 3241000 | 3224370 |
| Fiserv, Inc., Sr. Unscd. Notes | 5.60 | 3/2/2033 | 795000 | 806495 |
| OAK-Eagle Acquireco, Inc., Sr. Scd. Notes<sup>(b)</sup>  | 7.25 | 7/1/2033 | 1076000 | 1109217 |
| Oracle Corp., Sr. Unscd. Notes | 3.85 | 4/1/2060 | 14280000 | 8280153 |
| Oracle Corp., Sr. Unscd. Notes<sup>(e)</sup>  | 4.45 | 9/26/2030 | 7650000 | 7380276 |
| Salesforce, Inc., Sr. Unscd. Notes | 5.20 | 3/15/2033 | 7504000 | 7492724 |
| VMware LLC, Sr. Unscd. Notes | 2.20 | 8/15/2031 | 3657000 | 3237866 |
|  |  |  |  | **33422447** |
| **Insurance — 1.2%** | **Insurance — 1.2%** | **Insurance — 1.2%** | **Insurance — 1.2%** | **Insurance — 1.2%** |
| Allianz SE, Jr. Sub. Bonds<sup>(b),(g)</sup>  | 3.20 | 10/30/2027 | 1800000 | 1728955 |
| Allianz SE, Jr. Sub. Notes<sup>(b),(g)</sup>  | 6.50 | 10/30/2034 | 2600000 | 2602751 |
| American International Group, Inc., Sr. Unscd. Notes<sup>(e)</sup>  | 4.38 | 6/30/2050 | 4150000 | 3364811 |
| American International Group, Inc., Sr. Unscd. Notes | 4.85 | 5/7/2030 | 976000 | 986232 |
| Corebridge Financial, Inc., Jr. Sub. Notes | 6.38 | 9/15/2054 | 4149000 | 4127697 |
| Corebridge Financial, Inc., Jr. Sub. Notes<sup>(g)</sup>  | 6.88 | 12/1/2030 | 2528000 | 2601704 |
| Liberty Mutual Group, Inc., Gtd. Notes<sup>(b)</sup>  | 5.25 | 5/1/2036 | 2868000 | 2821740 |
| MetLife, Inc., Sub. Notes | 5.85 | 3/15/2056 | 7805000 | 7702713 |
| Nippon Life Insurance Co., Sub. Notes<sup>(b),(e)</sup>  | 6.50 | 4/30/2055 | 4081000 | 4303386 |
|  |  |  |  | **30239989** |
| **Internet Software & Services — .5%** | **Internet Software & Services — .5%** | **Internet Software & Services — .5%** | **Internet Software & Services — .5%** | **Internet Software & Services — .5%** |
| Meta Platforms, Inc., Sr. Unscd. Notes | 5.63 | 11/15/2055 | 5108000 | 4693450 |
| Meta Platforms, Inc., Sr. Unscd. Notes | 6.30 | 5/15/2056 | 4614000 | 4630379 |
| Snap, Inc., Gtd. Notes<sup>(b)</sup>  | 6.88 | 3/1/2033 | 2580000 | 2513390 |
|  |  |  |  | **11837219** |
| **Materials — .4%** | **Materials — .4%** | **Materials — .4%** | **Materials — .4%** | **Materials — .4%** |
| Amcor Flexibles North America, Inc., Gtd. Notes | 5.10 | 3/17/2030 | 3513000 | 3556029 |
| Canpack SA/Canpack US LLC, Gtd. Notes<sup>(b)</sup>  | 3.88 | 11/15/2029 | 4890000 | 4629752 |
| Smurfit Westrock Financing DAC, Gtd. Notes | 5.42 | 1/15/2035 | 1137000 | 1144415 |
|  |  |  |  | **9330196** |
| **Media — .5%** | **Media — .5%** | **Media — .5%** | **Media — .5%** | **Media — .5%** |
| Charter Communications Operating LLC/Charter Communications <br> Operating Capital Corp., Sr. Scd. Notes<br>| 5.38 | 5/1/2047 | 1446000 | 1156923 |
| Charter Communications Operating LLC/Charter Communications <br> Operating Capital Corp., Sr. Scd. Notes<br>| 6.55 | 6/1/2034 | 4270000 | 4418133 |
| Charter Communications Operating LLC/Charter Communications <br> Operating Capital Corp., Sr. Scd. Notes<br>| 6.83 | 10/23/2055 | 3765000 | 3527430 |
| Sirius XM Radio LLC, Gtd. Notes<sup>(b),(e)</sup>  | 5.88 | 4/15/2032 | 3242000 | 3189762 |
|  |  |  |  | **12292248** |
| **Metals & Mining — .8%** | **Metals & Mining — .8%** | **Metals & Mining — .8%** | **Metals & Mining — .8%** | **Metals & Mining — .8%** |
| ArcelorMittal SA, Sr. Unscd. Notes | 7.00 | 10/15/2039 | 1702000 | 1879385 |
| Commercial Metals Co., Sr. Unscd. Notes<sup>(b)</sup>  | 5.75 | 11/15/2033 | 5010000 | 5021232 |
| Corp. Nacional del Cobre de Chile, Sr. Unscd. Notes<sup>(b)</sup>  | 6.30 | 9/8/2053 | 3735000 | 3814335 |
| First Quantum Minerals Ltd., Gtd. Notes<sup>(b)</sup>  | 6.38 | 2/15/2036 | 389000 | 382657 |
| Glencore Funding LLC, Gtd. Notes<sup>(b)</sup>  | 5.19 | 4/1/2030 | 4967000 | 5045674 |
| Navoi Mining & Metallurgical Combinat, Sr. Unscd. Bonds<sup>(b)</sup>  | 6.75 | 5/14/2030 | 1709000 | 1780425 |
| Vedanta Resources Finance II PLC, Gtd. Notes<sup>(b)</sup>  | 9.13 | 10/15/2032 | 2040000 | 2123556 |
|  |  |  |  | **20047264** |
| **Real Estate — 3.5%** | **Real Estate — 3.5%** | **Real Estate — 3.5%** | **Real Estate — 3.5%** | **Real Estate — 3.5%** |
| American Homes 4 Rent LP, Sr. Unscd. Notes | 4.90 | 2/15/2029 | 2533000 | 2550481 |
| American Homes 4 Rent LP, Sr. Unscd. Notes | 5.25 | 3/15/2035 | 4624000 | 4583543 |

---

**14**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** |
| **Real Estate — 3.5% (continued)** | **Real Estate — 3.5% (continued)** | **Real Estate — 3.5% (continued)** | **Real Estate — 3.5% (continued)** | **Real Estate — 3.5% (continued)** |
| Boston Properties LP, Sr. Unscd. Notes | 5.75 | 1/15/2035 | 5600000 | 5628329 |
| Cousins Properties LP, Gtd. Notes | 5.38 | 2/15/2032 | 4515000 | 4566366 |
| CubeSmart LP, Gtd. Notes | 3.00 | 2/15/2030 | 6420000 | 6057401 |
| CubeSmart LP, Gtd. Notes<sup>(e)</sup>  | 5.13 | 11/1/2035 | 7058000 | 6991674 |
| EPR Properties, Gtd. Notes | 4.75 | 12/15/2026 | 5000000 | 5000274 |
| Extra Space Storage LP, Gtd. Notes | 4.95 | 1/15/2033 | 3418000 | 3390470 |
| Healthcare Realty Holdings LP, Gtd. Notes | 3.50 | 8/1/2026 | 7500000 | 7483470 |
| Iron Mountain, Inc., Gtd. Notes<sup>(b)</sup>  | 6.25 | 1/15/2033 | 2520000 | 2560350 |
| Kilroy Realty LP, Gtd. Notes | 5.88 | 10/15/2035 | 4960000 | 4824803 |
| Kite Realty Group LP, Sr. Unscd. Notes | 4.00 | 10/1/2026 | 1071000 | 1068736 |
| Kite Realty Group LP, Sr. Unscd. Notes | 4.95 | 12/15/2031 | 2393000 | 2392809 |
| Phillips Edison Grocery Center Operating Partnership I LP, Gtd. Notes | 5.75 | 7/15/2034 | 2012000 | 2074149 |
| Prologis Targeted US Logistics Fund LP, Gtd. Notes<sup>(b)</sup>  | 4.75 | 1/15/2036 | 5063000 | 4863783 |
| Sabra Health Care LP, Gtd. Notes | 3.20 | 12/1/2031 | 2475000 | 2238097 |
| SBA Tower Trust, Asset Backed Notes<sup>(b)</sup>  | 2.59 | 10/15/2031 | 3251000 | 2905926 |
| Store Capital LLC, Sr. Unscd. Notes | 4.63 | 3/15/2029 | 2825000 | 2797590 |
| Ventas Realty LP, Gtd. Notes | 5.10 | 7/15/2032 | 4843000 | 4898070 |
| VICI Properties LP, Sr. Unscd. Notes | 4.75 | 4/1/2028 | 2049000 | 2053115 |
| Vornado Realty LP, Sr. Unscd. Notes | 2.15 | 6/1/2026 | 4625000 | 4593862 |
| Vornado Realty LP, Sr. Unscd. Notes | 5.75 | 2/1/2033 | 5118000 | 5128097 |
|  |  |  |  | **88651395** |
| **Retailing — .8%** | **Retailing — .8%** | **Retailing — .8%** | **Retailing — .8%** | **Retailing — .8%** |
| Asbury Automotive Group, Inc., Gtd. Notes<sup>(b)</sup>  | 5.00 | 2/15/2032 | 4791000 | 4596796 |
| AutoZone, Inc., Sr. Unscd. Notes | 4.75 | 2/1/2033 | 2195000 | 2173028 |
| Lithia Motors, Inc., Gtd. Notes<sup>(b)</sup>  | 5.50 | 10/1/2030 | 7874000 | 7836362 |
| Macy's Retail Holdings LLC, Gtd. Notes<sup>(b)</sup>  | 7.38 | 8/1/2033 | 3690000 | 3848183 |
| O'Reilly Automotive, Inc., Sr. Unscd. Notes | 5.10 | 3/12/2036 | 866000 | 857249 |
|  |  |  |  | **19311618** |
| **Semiconductors & Semiconductor Equipment — .9%** | **Semiconductors & Semiconductor Equipment — .9%** | **Semiconductors & Semiconductor Equipment — .9%** | **Semiconductors & Semiconductor Equipment — .9%** | **Semiconductors & Semiconductor Equipment — .9%** |
| Broadcom, Inc., Sr. Unscd. Notes<sup>(b)</sup>  | 3.19 | 11/15/2036 | 5994000 | 5032363 |
| Foundry JV Holdco LLC, Sr. Scd. Notes<sup>(b)</sup>  | 6.30 | 1/25/2039 | 8147000 | 8657591 |
| Intel Corp., Sr. Unscd. Notes<sup>(e)</sup>  | 5.60 | 2/21/2054 | 3884000 | 3611693 |
| NXP BV/NXP Funding LLC/NXP USA, Inc., Gtd. Notes | 3.25 | 5/11/2041 | 6525000 | 4915254 |
|  |  |  |  | **22216901** |
| **Supranational Bank — .1%** | **Supranational Bank — .1%** | **Supranational Bank — .1%** | **Supranational Bank — .1%** | **Supranational Bank — .1%** |
| Banque Ouest Africaine de Developpement, Sr. Unscd. Notes | 4.70 | 10/22/2031 | 2500000 | **2306445** |
| **Technology Hardware & Equipment — .5%** | **Technology Hardware & Equipment — .5%** | **Technology Hardware & Equipment — .5%** | **Technology Hardware & Equipment — .5%** | **Technology Hardware & Equipment — .5%** |
| Hewlett Packard Enterprise Co., Sr. Unscd. Notes | 5.25 | 4/1/2033 | 5323000 | 5341613 |
| Hewlett Packard Enterprise Co., Sr. Unscd. Notes | 5.60 | 10/15/2054 | 2708000 | 2447898 |
| Kyndryl Holdings, Inc., Sr. Unscd. Notes | 2.05 | 10/15/2026 | 5221000 | 5153216 |
|  |  |  |  | **12942727** |
| **Telecommunication Services — .9%** | **Telecommunication Services — .9%** | **Telecommunication Services — .9%** | **Telecommunication Services — .9%** | **Telecommunication Services — .9%** |
| AT&T, Inc., Sr. Unscd. Bonds | 4.90 | 8/15/2037 | 1065000 | 1019113 |
| AT&T, Inc., Sr. Unscd. Notes | 2.55 | 12/1/2033 | 9905000 | 8377598 |
| Iliad Holding SAS, Sr. Scd. Notes<sup>(b)</sup>  | 8.50 | 4/15/2031 | 1849000 | 1962837 |
| T-Mobile USA, Inc., Gtd. Notes | 6.00 | 6/15/2054 | 2574000 | 2532501 |
| Verizon Communications, Inc., Sr. Unscd. Notes | 5.75 | 11/30/2045 | 5058000 | 4916894 |
| Verizon Communications, Inc., Sr. Unscd. Notes | 5.88 | 11/30/2055 | 3745000 | 3621773 |
|  |  |  |  | **22430716** |

---

**15**

------

SCHEDULE OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** |
| **Transportation — .1%** | **Transportation — .1%** | **Transportation — .1%** | **Transportation — .1%** | **Transportation — .1%** |
| FedEx Freight Holding Co., Inc., Gtd. Notes<sup>(b)</sup>  | 5.25 | 3/15/2036 | 1245000 | 1212444 |
| Norfolk Southern Corp., Sr. Unscd. Notes | 5.55 | 3/15/2034 | 1544000 | 1605970 |
|  |  |  |  | **2818414** |
| **Utilities — 6.4%** | **Utilities — 6.4%** | **Utilities — 6.4%** | **Utilities — 6.4%** | **Utilities — 6.4%** |
| Alliant Energy Corp., Jr. Sub. Notes | 5.75 | 4/1/2056 | 1688000 | 1660274 |
| American Electric Power Co., Inc., Jr. Sub. Notes | 6.95 | 12/15/2054 | 7985000 | 8510086 |
| Arizona Public Service Co., Sr. Unscd. Notes | 4.25 | 3/1/2049 | 4338000 | 3407189 |
| Baltimore Gas & Electric Co., Sr. Unscd. Notes | 2.25 | 6/15/2031 | 5026000 | 4511988 |
| CenterPoint Energy, Inc., Jr. Sub. Notes | 6.70 | 5/15/2055 | 5911000 | 6033304 |
| CMS Energy Corp., Jr. Sub. Notes | 3.75 | 12/1/2050 | 5521000 | 5092387 |
| Constellation Energy Generation LLC, Sr. Unscd. Notes | 5.80 | 3/1/2033 | 2736000 | 2869721 |
| Duke Energy Corp., Jr. Sub. Notes<sup>(e)</sup>  | 6.45 | 9/1/2054 | 4780000 | 4996348 |
| Electricite de France SA, Sr. Unscd. Notes<sup>(b)</sup>  | 5.70 | 5/23/2028 | 583000 | 596171 |
| Electricite de France SA, Sr. Unscd. Notes<sup>(b)</sup>  | 6.90 | 5/23/2053 | 3546000 | 3774038 |
| Enel Finance International NV, Gtd. Notes<sup>(b)</sup>  | 5.50 | 6/26/2034 | 1492000 | 1515031 |
| Enel Finance International NV, Gtd. Notes<sup>(b)</sup>  | 7.50 | 10/14/2032 | 871000 | 983945 |
| Entergy Corp., Jr. Sub. Notes | 6.10 | 6/15/2056 | 7585000 | 7562592 |
| Evergy, Inc., Jr. Sub. Notes | 6.65 | 6/1/2055 | 6675000 | 6792273 |
| Eversource Energy, Jr. Sub. Notes, Ser. B | 6.35 | 8/15/2056 | 4777000 | 4777273 |
| Eversource Energy, Sr. Unscd. Notes | 5.50 | 1/1/2034 | 1197000 | 1220653 |
| Exelon Corp., Jr. Sub. Notes | 6.50 | 3/15/2055 | 5764000 | 5979159 |
| Exelon Corp., Sr. Unscd. Notes | 5.45 | 3/15/2034 | 882000 | 904060 |
| Generadora de Gatun SA, Sr. Scd. Notes<sup>(b)</sup>  | 6.87 | 9/30/2044 | 321000 | 321000 |
| Hawaiian Electric Co., Inc., Sr. Unscd. Notes<sup>(b)</sup>  | 6.00 | 10/1/2033 | 1611000 | 1617238 |
| IPALCO Enterprises, Inc., Sr. Scd. Notes | 4.25 | 5/1/2030 | 1814000 | 1752434 |
| IPALCO Enterprises, Inc., Sr. Scd. Notes | 5.75 | 4/1/2034 | 7329000 | 7276786 |
| Louisville Gas & Electric Co., First Mortgage Bonds | 4.38 | 10/1/2045 | 1410000 | 1173590 |
| NextEra Energy Capital Holdings, Inc., Gtd. Notes | 6.50 | 8/15/2055 | 5844000 | 6094532 |
| Niagara Mohawk Power Corp., Sr. Unscd. Notes<sup>(b)</sup>  | 5.66 | 1/17/2054 | 878000 | 825268 |
| NiSource, Inc., Jr. Sub. Notes | 5.75 | 7/15/2056 | 6337000 | 6358400 |
| NiSource, Inc., Sr. Unscd. Notes | 3.60 | 5/1/2030 | 1297000 | 1252372 |
| NRG Energy, Inc., Gtd. Notes<sup>(b)</sup>  | 5.88 | 5/15/2034 | 4132000 | 4119015 |
| Pacific Gas and Electric Co., First Mortgage Bonds | 5.05 | 10/15/2032 | 4302000 | 4290206 |
| PacifiCorp, Jr. Sub. Notes | 7.13 | 8/15/2056 | 3030000 | 3021235 |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Sr. Unscd. <br> Notes<sup>(b)</sup> <br>| 5.45 | 2/3/2036 | 1273000 | 1240761 |
| PG&E Corp., Jr. Sub. Notes | 6.85 | 9/15/2056 | 5135000 | 5136385 |
| PG&E Corp., Sr. Scd. Notes | 5.25 | 7/1/2030 | 5135000 | 5085527 |
| Pinnacle West Capital Corp., Sr. Unscd. Notes | 5.15 | 5/15/2030 | 1847000 | 1878972 |
| Public Service Enterprise Group, Inc., Sr. Unscd. Notes | 5.45 | 4/1/2034 | 2403000 | 2456376 |
| Public Service Enterprise Group, Inc., Sr. Unscd. Notes | 6.13 | 10/15/2033 | 1574000 | 1671256 |
| Puget Energy, Inc., Jr. Sub. Notes<sup>(b)</sup>  | 7.25 | 9/15/2056 | 4430000 | 4457072 |
| Puget Energy, Inc., Sr. Scd. Notes | 2.38 | 6/15/2028 | 1709000 | 1633788 |
| Sempra, Jr. Sub. Notes | 6.55 | 4/1/2055 | 2410000 | 2435941 |
| Sierra Pacific Power Co., Jr. Sub. Notes | 6.20 | 12/15/2055 | 3062000 | 3023417 |
| Southern California Edison Co., First Mortgage Bonds | 5.25 | 3/15/2030 | 4705000 | 4782126 |
| Spire, Inc., Jr. Sub. Bonds | 6.45 | 6/1/2056 | 3750000 | 3775391 |
| The Southern Company, Jr. Sub. Notes, Ser. 2025 | 6.38 | 3/15/2055 | 7975000 | 8218963 |
| Vistra Operations Co. LLC, Sr. Scd. Notes<sup>(b)</sup>  | 5.25 | 10/15/2035 | 3532000 | 3429702 |

---

**16**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>|  | Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** | **Corporate Bonds and Notes — 42.1% (continued)** |
| **Utilities — 6.4% (continued)** | **Utilities — 6.4% (continued)** | **Utilities — 6.4% (continued)** | **Utilities — 6.4% (continued)** | **Utilities — 6.4% (continued)** | **Utilities — 6.4% (continued)** |
| Vistra Operations Co. LLC, Sr. Scd. Notes<sup>(b)</sup>  | 5.35 | 1/31/2036 |  | 2365000 | 2311643 |
| WEC Energy Group, Inc., Jr. Sub. Notes | 5.63 | 5/15/2056 |  | 1853000 | 1842282 |
|  |  |  |  |  | **162668170** |
| **Total Corporate Bonds and Notes** <br>(cost $1,075,181,261) | **Total Corporate Bonds and Notes** <br>(cost $1,075,181,261) | **Total Corporate Bonds and Notes** <br>(cost $1,075,181,261) |  |  | **1073305272** |
| **Foreign Governmental — 8.9%** | **Foreign Governmental — 8.9%** | **Foreign Governmental — 8.9%** | **Foreign Governmental — 8.9%** | **Foreign Governmental — 8.9%** | **Foreign Governmental — 8.9%** |
| Argentine Republic, Sr. Unscd. Bonds<sup>(h)</sup>  | 3.50 | 7/9/2041 |  | 3625000 | 2506688 |
| Brazil, Sr. Unscd. Notes | 5.50 | 11/6/2030 |  | 1266000 | 1290434 |
| Brazil, Sr. Unscd. Notes | 5.50 | 4/23/2036 | EUR<br>| 3900000 | 4577647 |
| Brazil, Sr. Unscd. Notes | 6.25 | 5/22/2036 |  | 4954000 | 4931707 |
| Brazil, Sr. Unscd. Notes | 7.25 | 1/12/2056 |  | 4700000 | 4735955 |
| Colombia, Sr. Unscd. Bonds | 5.63 | 2/19/2036 | EUR<br>| 3292000 | 3663670 |
| Dominican Republic, Sr. Unscd. Notes<sup>(b)</sup>  | 5.88 | 10/28/2035 |  | 3750000 | 3674812 |
| Eagle Funding Luxco Sarl, Sr. Unscd. Notes<sup>(b)</sup>  | 5.50 | 8/17/2030 |  | 5412000 | 5460437 |
| Ecuador, Sr. Unscd. Notes<sup>(b)</sup>  | 9.25 | 1/29/2039 |  | 543000 | 563363 |
| Gabon, Sr. Unscd. Notes<sup>(b)</sup>  | 7.00 | 11/24/2031 |  | 2200000 | 1830748 |
| Israel, Sr. Unscd. Notes, Ser. 30Y | 5.75 | 3/12/2054 |  | 2650000 | 2491785 |
| Israel, Sr. Unscd. Notes, Ser. 30Y | 5.88 | 1/13/2056 |  | 3070000 | 2949129 |
| Italy Buoni Poliennali Del Tesoro, Sr. Unscd. Notes, Ser. 30Y<sup>(b)</sup>  | 4.30 | 10/1/2054 | EUR<br>| 19546000 | 22047779 |
| Japan (30 Year Issue), Bonds, Ser. 83 | 2.20 | 6/20/2054 | JPY<br>| 1355000000 | 6358863 |
| Japan (30 Year Issue), Bonds, Ser. 86 | 2.40 | 3/20/2055 | JPY<br>| 1355000000 | 6630027 |
| Japan (30 Year Issue), Bonds, Ser. 87 | 2.80 | 6/20/2055 | JPY<br>| 2980000000 | 15901994 |
| Kuwait, Sr. Unscd. Notes<sup>(b)</sup>  | 4.65 | 10/9/2035 |  | 6377000 | 6230515 |
| Mexico, Sr. Unscd. Notes | 5.38 | 3/22/2033 |  | 3084000 | 3034810 |
| Mexico, Sr. Unscd. Notes | 6.63 | 1/29/2038 |  | 4147000 | 4283022 |
| New South Wales Treasury Corp., Govt. Gtd. Notes | 4.25 | 2/20/2036 | AUD<br>| 36485000 | 23570504 |
| Nigeria, Sr. Unscd. Notes<sup>(b)</sup>  | 8.63 | 1/13/2036 |  | 3698000 | 4057349 |
| Panama, Sr. Unscd. Notes | 5.66 | 2/23/2038 |  | 1160000 | 1169280 |
| Queensland Treasury Corp., Govt. Gtd. Notes<sup>(b)</sup>  | 5.25 | 7/21/2036 | AUD<br>| 34055000 | 23676933 |
| Republic of Kenya, Sr. Unscd. Notes<sup>(b)</sup>  | 8.70 | 2/26/2039 |  | 1719000 | 1624467 |
| Republic of Poland, Sr. Unscd. Notes, Ser. 30Y | 6.13 | 4/14/2056 |  | 3848000 | 3866109 |
| Republic of South Africa, Sr. Unscd. Notes<sup>(b)</sup>  | 7.25 | 12/11/2055 |  | 1626000 | 1534249 |
| Romania, Bonds<sup>(b),(e)</sup>  | 6.63 | 5/16/2036 |  | 3600000 | 3639131 |
| Romania, Sr. Unscd. Notes<sup>(b)</sup>  | 4.63 | 3/4/2033 | EUR<br>| 2395000 | 2665251 |
| Romania, Sr. Unscd. Notes<sup>(b)</sup>  | 6.00 | 9/24/2044 | EUR<br>| 2356000 | 2577951 |
| Saudi, Sr. Unscd. Notes<sup>(b)</sup>  | 5.88 | 1/12/2056 |  | 6250000 | 6019968 |
| Treasury Corp. of Victoria, Govt. Gtd. Notes | 4.75 | 9/15/2036 | AUD<br>| 34540000 | 22963747 |
| Ukraine, Sr. Unscd. Bonds<sup>(b),(h)</sup>  | 4.00 | 2/1/2032 |  | 2575000 | 1977266 |
| United Kingdom Gilt, Bonds | 1.50 | 7/31/2053 | GBP<br>| 42467000 | 24327466 |
| **Total Foreign Governmental** <br>(cost $234,767,143) | **Total Foreign Governmental** <br>(cost $234,767,143) | **Total Foreign Governmental** <br>(cost $234,767,143) |  |  | **226833056** |
| **Municipal Securities — .1%** | **Municipal Securities — .1%** | **Municipal Securities — .1%** | **Municipal Securities — .1%** | **Municipal Securities — .1%** | **Municipal Securities — .1%** |
| University of Michigan, Revenue Bonds, Refunding, Ser. C <br>(cost $2,449,000)<br>| 3.60 | 4/1/2047 |  | 2449000 | **2007903** |
| **U.S. Government Agencies Collateralized Mortgage Obligations — .8%** | **U.S. Government Agencies Collateralized Mortgage Obligations — .8%** | **U.S. Government Agencies Collateralized Mortgage Obligations — .8%** | **U.S. Government Agencies Collateralized Mortgage Obligations — .8%** | **U.S. Government Agencies Collateralized Mortgage Obligations — .8%** | **U.S. Government Agencies Collateralized Mortgage Obligations — .8%** |
| Federal Home Loan Mortgage Corp., REMIC, Ser. 5010, Cl. EA<sup>(i)</sup>  | 1.00 | 8/15/2047 |  | 2773638 | 2562693 |
| Government National Mortgage Association, Ser. 2010-89, Cl. Z | 5.00 | 7/20/2040 |  | 3234731 | 3288597 |
| Government National Mortgage Association, Ser. 2014-145, Cl. KA | 3.50 | 1/20/2038 |  | 1446713 | 1425594 |
| Government National Mortgage Association, Ser. 2017-93, Cl. GY | 3.50 | 6/20/2047 |  | 4322064 | 3988477 |
| Government National Mortgage Association, Ser. 2018-120, Cl. PU | 3.50 | 9/20/2048 |  | 375122 | 336498 |

---

**17**

------

SCHEDULE OF INVESTMENTS (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Description | Coupon<br> Rate (%)<br>| Maturity<br> Date<br>| Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **U.S. Government Agencies Collateralized Mortgage Obligations — .8% (continued)** | **U.S. Government Agencies Collateralized Mortgage Obligations — .8% (continued)** | **U.S. Government Agencies Collateralized Mortgage Obligations — .8% (continued)** | **U.S. Government Agencies Collateralized Mortgage Obligations — .8% (continued)** | **U.S. Government Agencies Collateralized Mortgage Obligations — .8% (continued)** |
| Government National Mortgage Association, Ser. 2019-59, Cl. KA | 3.00 | 12/20/2048 | 543517 | 499320 |
| Government National Mortgage Association, Ser. 2020-11, Cl. CB | 3.50 | 1/20/2050 | 1633349 | 1504228 |
| Government National Mortgage Association, Ser. 2022-9, Cl. P | 2.00 | 9/20/2051 | 4210726 | 3725677 |
| Government National Mortgage Association, Ser. 2023-19, Cl. WB | 5.63 | 11/20/2051 | 1122667 | 1151525 |
| Government National Mortgage Association, Ser. 2024-204, Cl. EF, <br> (1 Month SOFRCOMPOUND +2.35%)<sup>(c)</sup> <br>| 5.99 | 12/20/2054 | 2286397 | 2307480 |
| **Total U.S. Government Agencies Collateralized Mortgage Obligations** <br>(cost $22,385,190) | **Total U.S. Government Agencies Collateralized Mortgage Obligations** <br>(cost $22,385,190) | **Total U.S. Government Agencies Collateralized Mortgage Obligations** <br>(cost $22,385,190) |  | **20790089** |
| **U.S. Government Agencies Collateralized Municipal-Backed Securities — .0%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .0%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .0%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .0%** | **U.S. Government Agencies Collateralized Municipal-Backed Securities — .0%** |
| Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through <br> Certificates, Ser. Q007, Cl. APT1<sup>(i)</sup> <br>(cost $213,377)<br>| 6.10 | 10/25/2047 | 214686 | **215104** |

---

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

---

| | | |
|:---|:---|:---|
| **U.S. Government Agencies Mortgage-Backed — 27.5%** | **U.S. Government Agencies Mortgage-Backed — 27.5%** | **U.S. Government Agencies Mortgage-Backed — 27.5%** |
| Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: | Federal Home Loan Mortgage Corp.: |
| 2.00%, 9/1/2050-3/1/2052<sup>(i)</sup>  | 32663864 | 26473945 |
| 2.50%, 11/1/2050-2/1/2052<sup>(i)</sup>  | 58182939 | 49738934 |
| 3.00%, 9/1/2047-7/1/2052<sup>(i)</sup>  | 8031104 | 7137734 |
| 3.50%, 12/1/2048<sup>(i)</sup>  | 23461847 | 21635320 |
| 4.50%, 10/1/2052-5/1/2053<sup>(i)</sup>  | 7520650 | 7333329 |
| 5.00%, 9/1/2052-12/1/2054<sup>(i)</sup>  | 64268308 | 64143083 |
| 5.50%, 9/1/2052-3/1/2055<sup>(i)</sup>  | 41393370 | 42089645 |
| Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: |
| 2.00%, 3/1/2036-3/1/2052<sup>(i)</sup>  | 80191213 | 65901341 |
| 2.50%, 5/1/2037-10/1/2051<sup>(i)</sup>  | 5530653 | 5085054 |
| 2.50%, 5/1/2056<sup>(i),(j)</sup>  | 26000000 | 21775399 |
| 3.00%, 10/1/2030-2/1/2052<sup>(i)</sup>  | 47412622 | 42349076 |
| 3.50%, 11/1/2042<sup>(i)</sup>  | 2141091 | 2013475 |
| 3.50%, 5/1/2056<sup>(i),(j)</sup>  | 2900000 | 2640075 |
| 4.00%, 5/1/2056<sup>(i),(j)</sup>  | 6000000 | 5627579 |
| 4.50%, 3/1/2038-6/1/2053<sup>(i)</sup>  | 14340119 | 14060998 |
| 4.50%, 5/1/2056<sup>(i),(j)</sup>  | 10000000 | 9620401 |
| 5.00%, 8/1/2040-8/1/2055<sup>(i)</sup>  | 45918300 | 45987335 |
| 5.50%, 6/1/2054-9/1/2054<sup>(i)</sup>  | 23981716 | 24467770 |
| 5.50%, 5/1/2040-5/1/2056<sup>(i),(j)</sup>  | 73400000 | 74240401 |
| 6.00%, 2/1/2054-9/1/2054<sup>(i)</sup>  | 27365718 | 28296844 |
| 6.00%, 5/1/2053<sup>(i),(j)</sup>  | 9000000 | 9188899 |
| 6.50%, 5/1/2053<sup>(i)</sup>  | 838785 | 861748 |
| 7.00%, 2/1/2053<sup>(i)</sup>  | 1012601 | 1057678 |
| Government National Mortgage Association I: | Government National Mortgage Association I: | Government National Mortgage Association I: |
| 3.50%, 9/15/2041-10/15/2044 | 1307551 | 1212341 |
| 4.00%, 10/15/2039-6/15/2045 | 2746368 | 2630308 |
| 4.50%, 4/15/2039-10/15/2041 | 2186867 | 2170934 |
| Government National Mortgage Association II: | Government National Mortgage Association II: | Government National Mortgage Association II: |
| 2.00%, 10/20/2050-3/20/2052 | 23259535 | 19102212 |
| 2.50%, 10/20/2046-10/20/2052 | 52208275 | 44626158 |
| 3.00%, 8/20/2046-9/20/2052 | 7055597 | 6321247 |
| 3.50%, 9/20/2042-3/20/2050 | 15275820 | 14125169 |
| 4.00%, 10/20/2047-3/20/2055 | 24049654 | 22493952 |
| 4.00%, 11/20/2052, (1 Year U.S. Treasury Yield Curve Constant Rate +1.50%)<sup>(c)</sup>  | 4332669 | 4344644 |
| 4.02%, 7/20/2053, (1 Year U.S. Treasury Yield Curve Constant Rate +1.50%)<sup>(c)</sup>  | 6358881 | 6274882 |

---

**18**

------

---

| | | |
|:---|:---|:---|
| Description | Principal<br> Amount ($)<sup>(a)</sup><br>| Value ($) |
| **U.S. Government Agencies Mortgage-Backed — 27.5% (continued)** | **U.S. Government Agencies Mortgage-Backed — 27.5% (continued)** | **U.S. Government Agencies Mortgage-Backed — 27.5% (continued)** |
| 4.50%, 7/20/2048 | 1062122 | 1043013 |
| 6.00%, 5/20/2054 | 3038376 | 3111351 |
| 7.00%, 2/20/2054 | 634189 | 659453 |
| **Total U.S. Government Agencies Mortgage-Backed** <br>(cost $712,943,359) |  | **699841727** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Coupon <br>Rate (%)<br>| Maturity <br>Date<br>|  |  |
| **U.S. Treasury Securities — 4.5%** | **U.S. Treasury Securities — 4.5%** | **U.S. Treasury Securities — 4.5%** | **U.S. Treasury Securities — 4.5%** | **U.S. Treasury Securities — 4.5%** |
| U.S. Treasury Bonds<sup>(e)</sup>  | 4.63 | 11/15/2045 | 3355000 | 3206122 |
| U.S. Treasury Bonds<sup>(e)</sup>  | 4.63 | 11/15/2055 | 10000000 | 9432031 |
| U.S. Treasury Bonds<sup>(k)</sup>  | 4.88 | 8/15/2045 | 5906000 | 5834482 |
| U.S. Treasury Bonds<sup>(k)</sup>  | 5.00 | 5/15/2045 | 52830000 | 53052877 |
| U.S. Treasury Inflation Indexed Bonds<sup>(l)</sup>  | 0.13 | 2/15/2052 | 7794696 | 4064588 |
| U.S. Treasury Inflation Indexed Bonds<sup>(l)</sup>  | 2.38 | 2/15/2055 | 25476006 | 23662072 |
| U.S. Treasury Notes | 4.38 | 11/30/2030 | 15845000 | 16083603 |
| **Total U.S. Treasury Securities** <br>(cost $118,076,636) | **Total U.S. Treasury Securities** <br>(cost $118,076,636) | **Total U.S. Treasury Securities** <br>(cost $118,076,636) |  | **115335775** |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  | 1-Day <br>Yield (%)<br>| Shares |  |
| **Investment Companies — .2%** | **Investment Companies — .2%** | **Investment Companies — .2%** | **Investment Companies — .2%** |
| **Registered Investment Companies — .2%** | **Registered Investment Companies — .2%** | **Registered Investment Companies — .2%** | **Registered Investment Companies — .2%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional <br> Shares<sup>(m)</sup> <br>(cost $5,403,667)<br>| 3.70 | 5403667 | **5403667** |
| **Investment of Cash Collateral for Securities Loaned — .7%** | **Investment of Cash Collateral for Securities Loaned — .7%** | **Investment of Cash Collateral for Securities Loaned — .7%** | **Investment of Cash Collateral for Securities Loaned — .7%** |
| **Registered Investment Companies — .7%** | **Registered Investment Companies — .7%** | **Registered Investment Companies — .7%** | **Registered Investment Companies — .7%** |
| Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional <br> Shares<sup>(m)</sup> <br>(cost $17,934,341)<br>| 3.70 | 17934341 | **17934341** |
| **Total Investments** (cost $2,686,693,778) | **Total Investments** (cost $2,686,693,778) | **104.4%** | **2662200013** |
| **Liabilities, Less Cash and Receivables** | **Liabilities, Less Cash and Receivables** | **(4.4%)** | **(113062628)** |
| **Net Assets**  | **Net Assets**  | **100.0%** | **2549137385** |

---

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

---

| |
|:---|
| AUD—Australian Dollar |
| CLO—Collateralized Loan Obligation |
| EUR—Euro |
| GBP—British Pound |
| HKD—Hong Kong Dollar |
| JPY—Japanese Yen |
| REMIC—Real Estate Mortgage Investment Conduit |
| SOFRCOMPOUND—Compounded Secured Overnight Financing Rate |
| TSFR—Term Secured Overnight Financing Rate Reference Rates |

---

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

<sup>(a)</sup> Amount stated in U.S. Dollars unless otherwise noted above.

<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 April 30, 2026, these securities amounted to $858,625,770 or 33.7% of net assets. 

<sup>(c)</sup> Variable rate security—Interest rate resets periodically and the rate shown is the interest rate in effect at period end. Security description also includes the reference rate and spread if published and available. 

<sup>(d)</sup> Security issued with a zero coupon.

**19**

------

SCHEDULE OF INVESTMENTS (continued)

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

<sup>(e)</sup> Security, or portion thereof, on loan. At April 30, 2026, the value of the fund's securities on loan was $46,800,860 and the value of the collateral was $48,544,620, consisting of cash collateral of $17,934,341 and U.S. Government & Agency securities valued at $30,610,279. In addition, the value of collateral may include pending sales that are also on loan. 

<sup>(f)</sup> Payment-in-kind security and interest may be paid in additional par.

<sup>(g)</sup> Security is a perpetual security with no specified maturity date. Maturity date shown is next reset date of the security.

<sup>(h)</sup> Step coupon bond. Security begins as a zero coupon until a specified date at which time the stated coupon rate becomes effective until maturity.

<sup>(i)</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>(j)</sup> Purchased on a forward commitment basis.

<sup>(k)</sup> Held or partially held by a broker as collateral for open over-the-counter derivative contracts.

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

<sup>(m)</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;

---

| | | |
|:---|:---|:---|
| **TBA Sale Commitments** | **TBA Sale Commitments** | **TBA Sale Commitments** |
| Description | Principal <br>Amount ($)<br>| Value ($) |
| **U.S. Government Agencies Mortgage-Backed — (2.0%)** | **U.S. Government Agencies Mortgage-Backed — (2.0%)** | **U.S. Government Agencies Mortgage-Backed — (2.0%)** |
| Federal National Mortgage Association: | Federal National Mortgage Association: | Federal National Mortgage Association: |
| 2.50%, 5/1/2041<sup>(a),(b)</sup>  | (10000000) | (9413708) |
| 5.00%, 5/1/2056<sup>(a),(b)</sup>  | (41913000) | (41297911) |
| **Total Sale Commitments** (Proceeds $50,864,013) |  | **(50711619)** |

---

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

<sup>(a)</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>(b)</sup> Sold on a delayed delivery basis.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** | **Affiliated Issuers** |
| Description | Value ($) <br>4/30/2025<br>| Purchases ($)<sup>†</sup>  | Sales ($) | Value ($) <br>4/30/2026<br>| Dividends/ <br>Distributions ($)<br>|
| **Registered Investment Companies - .2%** | **Registered Investment Companies - .2%** | **Registered Investment Companies - .2%** | **Registered Investment Companies - .2%** | **Registered Investment Companies - .2%** | **Registered Investment Companies - .2%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .2%<br>| 23613434 | 762890210 | (781099977) | 5403667 | 404667 |
| **Investment of Cash Collateral for Securities Loaned - .7%** | **Investment of Cash Collateral for Securities Loaned - .7%** | **Investment of Cash Collateral for Securities Loaned - .7%** | **Investment of Cash Collateral for Securities Loaned - .7%** | **Investment of Cash Collateral for Securities Loaned - .7%** | **Investment of Cash Collateral for Securities Loaned - .7%** |
| Dreyfus Institutional Preferred Government Plus Money <br> Market Fund, Institutional Shares - .7%<br>| 23963436 | 305561578 | (311590673) | 17934341 | 116102<sup>††</sup>  |
| **Total - .9%** | **47576870** | **1068451788** | **(1092690650)** | **23338008** | **520769** |

---

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

---

| | |
|:---|:---|
| <sup>†</sup>  | Includes reinvested dividends/distributions. |
| <sup>††</sup>  | 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; 1243 | &nbsp;&nbsp; 6/30/2026 | &nbsp;&nbsp; 259586034 | &nbsp;&nbsp; 257456375 | &nbsp;&nbsp; (2129659) |
| 5 Year U.S. Treasury Note | &nbsp;&nbsp; 2914 | &nbsp;&nbsp; 6/30/2026 | &nbsp;&nbsp; 316839012 | &nbsp;&nbsp; 314233930 | &nbsp;&nbsp; (2605082) |
| 10 Year U.S. Treasury Note | &nbsp;&nbsp; 34 | &nbsp;&nbsp; 6/18/2026 | &nbsp;&nbsp; 3763435 | &nbsp;&nbsp; 3760187 | &nbsp;&nbsp; (3248) |
| Australian 10-Year Bond | &nbsp;&nbsp; 1639 | &nbsp;&nbsp; 6/15/2026 | &nbsp;&nbsp; 128167599<sup>(a)</sup>  | &nbsp;&nbsp; 126334143 | &nbsp;&nbsp; (1833456) |

---

**20**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures (continued)** | **Futures (continued)** | **Futures (continued)** | **Futures (continued)** | **Futures (continued)** | **Futures (continued)** |
| Description | Number of<br> Contracts<br>| Expiration | Notional<br> Value ($)<br>| Market<br> Value ($)<br>| Unrealized<br> Appreciation<br> (Depreciation) ($)<br>|
| **Futures Long (continued)** |  |  |  |  |  |
| Euro-Bund | &nbsp;&nbsp; 271 | &nbsp;&nbsp; 6/8/2026 | &nbsp;&nbsp; 40614390<sup>(a)</sup>  | &nbsp;&nbsp; 39871895 | &nbsp;&nbsp; (742495) |
| Ultra U.S. Treasury Bond | &nbsp;&nbsp; 826 | &nbsp;&nbsp; 6/18/2026 | &nbsp;&nbsp; 95638690 | &nbsp;&nbsp; 95015813 | &nbsp;&nbsp; (622877) |
| **Futures Short** |  |  |  |  |  |
| Euro-Buxl 30 Year Bond | &nbsp;&nbsp; 156 | &nbsp;&nbsp; 6/8/2026 | &nbsp;&nbsp; 20426014<sup>(a)</sup>  | &nbsp;&nbsp; 19953083 | &nbsp;&nbsp; 472931 |
| Euro-OAT | &nbsp;&nbsp; 351 | &nbsp;&nbsp; 6/8/2026 | &nbsp;&nbsp; 50051326<sup>(a)</sup>  | &nbsp;&nbsp; 49133414 | &nbsp;&nbsp; 917912 |
| Japanese 10 Year Bond | &nbsp;&nbsp; 105 | &nbsp;&nbsp; 6/15/2026 | &nbsp;&nbsp; 88490137<sup>(a)</sup>  | &nbsp;&nbsp; 86693494 | &nbsp;&nbsp; 1796643 |
| Long Gilt | &nbsp;&nbsp; 350 | &nbsp;&nbsp; 6/26/2026 | &nbsp;&nbsp; 43764652<sup>(a)</sup>  | &nbsp;&nbsp; 41239571 | &nbsp;&nbsp; 2525081 |
| Ultra 10 Year U.S. Treasury Note | &nbsp;&nbsp; 1411 | &nbsp;&nbsp; 6/18/2026 | &nbsp;&nbsp; 159346834 | &nbsp;&nbsp; 159244585 | &nbsp;&nbsp; 102249 |
| **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** |  |  | **5814816** |
| **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** |  |  | **(7936817)** |

---

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

<sup>(a)</sup> Notional amounts in foreign currency have been converted to USD using relevant foreign exchange rates.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** | **Forward Foreign Currency Exchange Contracts** |
| Counterparty/ <br>Purchased <br>Currency<br>| Purchased <br>Currency <br>Amounts<br>| &nbsp;&nbsp; Currency <br>Sold<br>| Sold <br>Currency <br>Amounts<br>| Settlement <br>Date<br>| Unrealized <br>Appreciation <br>(Depreciation) ($)<br>|
| **Barclays Capital, Inc.** | **Barclays Capital, Inc.** | **Barclays Capital, Inc.** | **Barclays Capital, Inc.** | **Barclays Capital, Inc.** | **Barclays Capital, Inc.** |
| United States Dollar | &nbsp;&nbsp; 30867705 | Japanese Yen | &nbsp;&nbsp; 4874611000 | &nbsp;&nbsp; 5/12/2026 | &nbsp;&nbsp; (301086) |
| United States Dollar | &nbsp;&nbsp; 2221422 | Australian Dollar | &nbsp;&nbsp; 3099000 | &nbsp;&nbsp; 5/12/2026 | &nbsp;&nbsp; (9219) |
| United States Dollar | &nbsp;&nbsp; 451600 | Swedish Krona | &nbsp;&nbsp; 4202000 | &nbsp;&nbsp; 5/12/2026 | &nbsp;&nbsp; (3813) |
| United States Dollar | &nbsp;&nbsp; 65440094 | Australian Dollar | &nbsp;&nbsp; 94119000 | &nbsp;&nbsp; 5/12/2026 | &nbsp;&nbsp; (2306184) |
| **BNP Paribas Corp.** | **BNP Paribas Corp.** | **BNP Paribas Corp.** | **BNP Paribas Corp.** | **BNP Paribas Corp.** | **BNP Paribas Corp.** |
| United States Dollar | &nbsp;&nbsp; 8307445 | Euro | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 6/2/2026 | &nbsp;&nbsp; 79183 |
| **Citigroup Global Markets, Inc.** | **Citigroup Global Markets, Inc.** | **Citigroup Global Markets, Inc.** | **Citigroup Global Markets, Inc.** | **Citigroup Global Markets, Inc.** | **Citigroup Global Markets, Inc.** |
| United States Dollar | &nbsp;&nbsp; 252519 | Japanese Yen | &nbsp;&nbsp; 40000000 | &nbsp;&nbsp; 6/2/2026 | &nbsp;&nbsp; (3715) |
| **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** | **Goldman Sachs & Co. LLC** |
| Euro | &nbsp;&nbsp; 600000 | United States Dollar | &nbsp;&nbsp; 702335 | &nbsp;&nbsp; 5/12/2026 | &nbsp;&nbsp; 2250 |
| United States Dollar | &nbsp;&nbsp; 26304268 | British Pound | &nbsp;&nbsp; 19754000 | &nbsp;&nbsp; 5/12/2026 | &nbsp;&nbsp; (575654) |
| British Pound | &nbsp;&nbsp; 660000 | United States Dollar | &nbsp;&nbsp; 891028 | &nbsp;&nbsp; 5/12/2026 | &nbsp;&nbsp; 7056 |
| United States Dollar | &nbsp;&nbsp; 500885 | Swedish Krona | &nbsp;&nbsp; 4693000 | &nbsp;&nbsp; 5/12/2026 | &nbsp;&nbsp; (7742) |
| United States Dollar | &nbsp;&nbsp; 2227367 | Japanese Yen | &nbsp;&nbsp; 345000000 | &nbsp;&nbsp; 6/2/2026 | &nbsp;&nbsp; 17355 |
| Japanese Yen | &nbsp;&nbsp; 50000000 | United States Dollar | &nbsp;&nbsp; 319206 | &nbsp;&nbsp; 6/2/2026 | &nbsp;&nbsp; 1086 |
| United States Dollar | &nbsp;&nbsp; 295486 | Euro | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 6/2/2026 | &nbsp;&nbsp; 1619 |
| United States Dollar | &nbsp;&nbsp; 352792 | Hong Kong Dollar | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 6/2/2026 | &nbsp;&nbsp; 1237 |
| **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** | **J.P. Morgan Securities LLC** |
| Euro | &nbsp;&nbsp; 370000 | United States Dollar | &nbsp;&nbsp; 432560 | &nbsp;&nbsp; 6/2/2026 | &nbsp;&nbsp; 2362 |
| United States Dollar | &nbsp;&nbsp; 35597 | Australian Dollar | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 6/2/2026 | (379) |
| United States Dollar | &nbsp;&nbsp; 694640 | Euro | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 6/2/2026 | &nbsp;&nbsp; (10639) |
| United States Dollar | &nbsp;&nbsp; 170102 | Japanese Yen | &nbsp;&nbsp; 27000000 | &nbsp;&nbsp; 6/2/2026 | &nbsp;&nbsp; (2855) |

---

**21**

------

SCHEDULE OF INVESTMENTS (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** | **Forward Foreign Currency Exchange Contracts (continued)** |
| Counterparty/<br> Purchased<br> Currency<br>| Purchased<br> Currency<br> Amounts<br>| &nbsp;&nbsp; Currency<br> Sold<br>| Sold<br> Currency<br> Amounts<br>| Settlement<br> Date<br>| Unrealized<br> Appreciation<br> (Depreciation) ($)<br>|
| **Morgan Stanley & Co. LLC** | **Morgan Stanley & Co. LLC** | **Morgan Stanley & Co. LLC** | **Morgan Stanley & Co. LLC** | **Morgan Stanley & Co. LLC** | **Morgan Stanley & Co. LLC** |
| United States Dollar | &nbsp;&nbsp; 32876122 | Euro | &nbsp;&nbsp; 28481000 | &nbsp;&nbsp; 5/12/2026 | &nbsp;&nbsp; (569400) |
| **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **112148** |
| **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **(3790686)** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Centrally Cleared Credit Default Swaps** | **Centrally Cleared Credit Default Swaps** | **Centrally Cleared Credit Default Swaps** | **Centrally Cleared Credit Default Swaps** | **Centrally Cleared Credit Default Swaps** | **Centrally Cleared Credit Default Swaps** |
| Reference <br>Obligations<br>| Maturity <br>Date<br>| Notional <br>Amount ($)<sup>(a)</sup> <br>| Market <br>Value ($)<br>| Upfront <br>Payments/ <br>Receipts ($)<br>| Unrealized <br>(Depreciation) ($)<br>|
| **Purchased Contracts:**<sup>(b)</sup> |  |  |  |  |  |
| Markit iTraxx Europe Crossover Index Series 45, Paid <br> 3 Month Fixed Rate of 5.00%<br>| &nbsp;&nbsp; 6/20/2031 | &nbsp;&nbsp; 50725153 | &nbsp;&nbsp; (4829031) | &nbsp;&nbsp; (3129453) | &nbsp;&nbsp; (1699578) |
| **Gross Unrealized Depreciation** |  |  |  |  | &nbsp;&nbsp; **(1699578)** |

---

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

<sup>(a)</sup> The maximum potential amount the fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of the swap agreement. 

<sup>(b)</sup> If the fund is a buyer of protection and a credit event occurs, as defined under the terms of the swap agreement, the fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the reference obligation or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the reference obligation. 

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Centrally Cleared Interest Rate Swaps** | **Centrally Cleared Interest Rate Swaps** | **Centrally Cleared Interest Rate Swaps** | **Centrally Cleared Interest Rate Swaps** | **Centrally Cleared Interest Rate Swaps** | **Centrally Cleared Interest Rate Swaps** | **Centrally Cleared Interest Rate Swaps** |
| Received <br>Reference <br>Entity<br>| &nbsp;&nbsp; Paid <br>Reference <br>Entity<br>| Maturity <br>Date<br>| Notional <br>Amount ($)<br>| Market <br>Value ($)<br>| Upfront <br>Payments/ <br>Receipts ($)<br>| Unrealized <br>Appreciation <br>(Depreciation) ($)<br>|
| EUR - 12 Month Fixed at <br> 2.64%<br>| &nbsp;&nbsp; EUR - 6 Month EURIBOR at <br> 2.13%<br>| &nbsp;&nbsp; 11/6/2035 | &nbsp;&nbsp; 23120905 | &nbsp;&nbsp; (735875) | &nbsp;&nbsp; — | &nbsp;&nbsp; (735875) |
| EUR - 12 Month Fixed at <br> 2.65%<br>| &nbsp;&nbsp; EUR - 6 Month EURIBOR at <br> 2.13%<br>| &nbsp;&nbsp; 11/6/2035 | &nbsp;&nbsp; 23120905 | &nbsp;&nbsp; (727777) | &nbsp;&nbsp; — | &nbsp;&nbsp; (727777) |
| SEK - 3 Month STIBOR at <br> 2.00%<br>| &nbsp;&nbsp; SEK - 12 Month Fixed at <br> 2.75%<br>| &nbsp;&nbsp; 11/6/2035 | &nbsp;&nbsp; 22577239 | &nbsp;&nbsp; 180018 | &nbsp;&nbsp; — | &nbsp;&nbsp; 180018 |
| SEK - 3 Month STIBOR at <br> 2.02%<br>| &nbsp;&nbsp; SEK - 12 Month Fixed at <br> 2.71%<br>| &nbsp;&nbsp; 11/6/2035 | &nbsp;&nbsp; 22577239 | &nbsp;&nbsp; 424660 | &nbsp;&nbsp; — | &nbsp;&nbsp; 424660 |
| GBP Maturity Fixed at <br> 3.18%<br>| GBP - UKRPI at Maturity | &nbsp;&nbsp; 2/15/2056 | &nbsp;&nbsp; 19771697 | &nbsp;&nbsp; (560788) | &nbsp;&nbsp; (39630) | &nbsp;&nbsp; (521158) |
| **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** | **Gross Unrealized Appreciation** |  | **604678** |
| **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** | **Gross Unrealized Depreciation** |  | **(1984810)** |

---

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

---

| |
|:---|
| EUR—Euro |
| EURIBOR—Euro Interbank Offered Rate |
| GBP—British Pound |
| SEK—Swedish Krona |
| STIBOR—Stockholm Interbank Offered Rate |
| UKRPI—UK RPI All Items NSA |

---

See notes to financial statements.

**22**

------

STATEMENT OF ASSETS AND LIABILITIES

April 30, 2026

---

| | | |
|:---|:---|:---|
|  | Cost | Value |
| **Assets ($):** |  |  |
| Investments in securities—See Schedule of Investments <br>(including securities on loan, valued at $46,800,860)—Note 1(c):<br>|  |  |
| Unaffiliated issuers | 2663355770 | &nbsp;&nbsp;&nbsp;&nbsp; 2638862005 |
| Affiliated issuers | 23338008 | &nbsp;&nbsp;&nbsp;&nbsp; 23338008 |
| Cash denominated in foreign currency | 2047684 | &nbsp;&nbsp;&nbsp;&nbsp; 2054029 |
| Cash collateral held by broker—Note 4  |  | &nbsp;&nbsp;&nbsp;&nbsp; 21198840 |
| Receivable for investment securities sold—TBA |  | &nbsp;&nbsp;&nbsp;&nbsp; 80871442 |
| Dividends, interest and securities lending income receivable |  | &nbsp;&nbsp;&nbsp;&nbsp; 21835032 |
| Receivable for shares of Common Stock subscribed |  | &nbsp;&nbsp;&nbsp;&nbsp; 3402740 |
| Receivable for investment securities sold |  | &nbsp;&nbsp;&nbsp;&nbsp; 2530964 |
| Receivable for swap variation margin—Note 4  |  | &nbsp;&nbsp;&nbsp;&nbsp; 181439 |
| Tax reclaim receivable—Note 1(b)  |  | &nbsp;&nbsp;&nbsp;&nbsp; 152414 |
| Unrealized appreciation on forward foreign currency exchange contracts—Note 4  |  | &nbsp;&nbsp;&nbsp;&nbsp; 112148 |
| Prepaid expenses |  | &nbsp;&nbsp;&nbsp;&nbsp; 100201 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; **2794639262** |
| **Liabilities ($):** |  |  |
| Due to BNY Mellon Investment Adviser, Inc. and affiliates—Note 3(c)  |  | &nbsp;&nbsp;&nbsp;&nbsp; 936887 |
| Cash overdraft due to Custodian |  | &nbsp;&nbsp;&nbsp;&nbsp; 145753 |
| Payable for investment securities purchased—TBA |  | &nbsp;&nbsp;&nbsp;&nbsp; 153522413 |
| TBA sale commitments, at value (proceeds $50,864,013)—Note 4  |  | &nbsp;&nbsp;&nbsp;&nbsp; 50711619 |
| Liability for securities on loan—Note 1(c)  |  | &nbsp;&nbsp;&nbsp;&nbsp; 17934341 |
| Payable for investment securities purchased |  | &nbsp;&nbsp;&nbsp;&nbsp; 12771328 |
| Payable for shares of Common Stock redeemed |  | &nbsp;&nbsp;&nbsp;&nbsp; 4910020 |
| Unrealized depreciation on forward foreign currency exchange contracts—Note 4  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3790686 |
| Payable for futures variation margin—Note 4  |  | &nbsp;&nbsp;&nbsp;&nbsp; 363867 |
| Directors' fees and expenses payable |  | &nbsp;&nbsp;&nbsp;&nbsp; 56716 |
| Other accrued expenses |  | &nbsp;&nbsp;&nbsp;&nbsp; 358247 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; **245501877** |
| **Net Assets ($)** |  | &nbsp;&nbsp;&nbsp;&nbsp; **2549137385** |
| **Composition of Net Assets ($):** |  |  |
| Paid-in capital |  | &nbsp;&nbsp;&nbsp;&nbsp; 2809459553 |
| Total distributable earnings (loss) |  | &nbsp;&nbsp;&nbsp;&nbsp; (260322168)<br>|
| **Net Assets ($)** |  | &nbsp;&nbsp;&nbsp;&nbsp; **2549137385** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Net Asset Value Per Share** | Class A | Class C | Class I | Class Y |
| Net Assets ($) | &nbsp;&nbsp;&nbsp;&nbsp; 492311061 | &nbsp;&nbsp;&nbsp;&nbsp; 20734424 | &nbsp;&nbsp;&nbsp;&nbsp; 1996821521 | &nbsp;&nbsp;&nbsp;&nbsp; 39270379 |
| Shares Outstanding | &nbsp;&nbsp;&nbsp;&nbsp; 53510062 | &nbsp;&nbsp;&nbsp;&nbsp; 2252932 | &nbsp;&nbsp;&nbsp;&nbsp; 217051079 | &nbsp;&nbsp;&nbsp;&nbsp; 4267154 |
| **Net Asset Value Per Share ($)** | &nbsp;&nbsp;&nbsp;&nbsp;**9.20** | &nbsp;&nbsp;&nbsp;&nbsp;**9.20** | &nbsp;&nbsp;&nbsp;&nbsp;**9.20** | &nbsp;&nbsp;&nbsp;&nbsp;**9.20** |

---

See notes to financial statements.

**23**

------

STATEMENT OF OPERATIONS

Year Ended April 30, 2026

---

| | |
|:---|:---|
| **Investment Income ($):** |  |
| **Income:** |  |
| Interest (net of $33,069 foreign taxes withheld at source) | &nbsp;&nbsp;&nbsp;&nbsp; 124938657 |
| Dividends: |  |
| Affiliated issuers | &nbsp;&nbsp;&nbsp;&nbsp; 404667 |
| Affiliated income net of rebates from securities lending—Note 1(c)  | &nbsp;&nbsp;&nbsp;&nbsp; 116102 |
| **Total Income** | &nbsp;&nbsp;&nbsp;&nbsp; **125459426** |
| **Expenses:** |  |
| Management fee—Note 3(a)  | &nbsp;&nbsp;&nbsp;&nbsp; 8812437 |
| Shareholder servicing costs—Note 3(c)  | &nbsp;&nbsp;&nbsp;&nbsp; 3168573 |
| Directors' fees and expenses—Note 3(d)  | &nbsp;&nbsp;&nbsp;&nbsp; 300023 |
| Prospectus and shareholders' reports | &nbsp;&nbsp;&nbsp;&nbsp; 206657 |
| Distribution plan fees—Note 3(b)  | &nbsp;&nbsp;&nbsp;&nbsp; 160769 |
| Registration fees | &nbsp;&nbsp;&nbsp;&nbsp; 149253 |
| Professional fees | &nbsp;&nbsp;&nbsp;&nbsp; 128888 |
| Loan commitment fees—Note 2  | &nbsp;&nbsp;&nbsp;&nbsp; 64545 |
| Custodian fees—Note 3(c)  | &nbsp;&nbsp;&nbsp;&nbsp; 51622 |
| Chief Compliance Officer fees—Note 3(c)  | &nbsp;&nbsp;&nbsp;&nbsp; 27572 |
| Shareholder and regulatory reports service fees—Note 3(c)  | &nbsp;&nbsp;&nbsp;&nbsp; 26708 |
| Miscellaneous | &nbsp;&nbsp;&nbsp;&nbsp; 102389 |
| **Total Expenses** | &nbsp;&nbsp;&nbsp;&nbsp; **13199436** |
| Less—reduction in expenses due to undertaking—Note 3(a)  | &nbsp;&nbsp;&nbsp;&nbsp; (352896)<br>|
| Less—reduction in fees due to earnings credits—Note 3(c)  | &nbsp;&nbsp;&nbsp;&nbsp; (4582)<br>|
| **Net Expenses** | &nbsp;&nbsp;&nbsp;&nbsp; **12841958** |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;&nbsp; **112617468** |
| **Realized and Unrealized Gain (Loss) on Investments—Note 4 ($):** |  |
| Net realized gain (loss) on investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp; (5788708)<br>|
| Net realized gain (loss) on TBA sale commitments | &nbsp;&nbsp;&nbsp;&nbsp; (41123)<br>|
| Net realized gain (loss) on futures | &nbsp;&nbsp;&nbsp;&nbsp; (984891)<br>|
| Net realized gain (loss) on forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp; 52523 |
| Net realized gain (loss) on swap agreements | &nbsp;&nbsp;&nbsp;&nbsp; (3008172)<br>|
| **Net Realized Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp; **(9770371)**<br>|
| Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp; 21146098 |
| Net change in unrealized appreciation (depreciation) on TBA sale commitments | &nbsp;&nbsp;&nbsp;&nbsp; 152394 |
| Net change in unrealized appreciation (depreciation) on futures | &nbsp;&nbsp;&nbsp;&nbsp; (5441782)<br>|
| Net change in unrealized appreciation (depreciation) on forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp; (1948674)<br>|
| Net change in unrealized appreciation (depreciation) on swap agreements | &nbsp;&nbsp;&nbsp;&nbsp; (2588122)<br>|
| **Net Change in Unrealized Appreciation (Depreciation)** | &nbsp;&nbsp;&nbsp;&nbsp; **11319914** |
| **Net Realized and Unrealized Gain (Loss) on Investments** | &nbsp;&nbsp;&nbsp;&nbsp; **1549543** |
| **Net Increase in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp; **114167011** |

---

See notes to financial statements.

**24**

------

STATEMENT OF CHANGES IN NET ASSETS

---

| | | |
|:---|:---|:---|
|  | Year Ended April 30, | Year Ended April 30, |
|  | 2026 | 2025 |
| **Operations ($):** |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp; 112617468 | &nbsp;&nbsp;&nbsp;&nbsp; 93858835 |
| Net realized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp; (9770371) | &nbsp;&nbsp;&nbsp;&nbsp; (35291213) |
| Net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp;&nbsp;&nbsp; 11319914 | &nbsp;&nbsp;&nbsp;&nbsp; 89855012 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;&nbsp;&nbsp; **114167011** | &nbsp;&nbsp;&nbsp;&nbsp; **148422634** |
| **Distributions ($):** |  |  |
| Distributions to shareholders: |  |  |
| Class A | &nbsp;&nbsp;&nbsp;&nbsp; (22752666) | &nbsp;&nbsp;&nbsp;&nbsp; (14765285) |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp; (799763) | &nbsp;&nbsp;&nbsp;&nbsp; (765425) |
| Class I | &nbsp;&nbsp;&nbsp;&nbsp; (92568750) | &nbsp;&nbsp;&nbsp;&nbsp; (77041957) |
| Class Y | &nbsp;&nbsp;&nbsp;&nbsp; (1875714) | &nbsp;&nbsp;&nbsp;&nbsp; (1234260) |
| **Total Distributions** | &nbsp;&nbsp;&nbsp;&nbsp; **(117996893)** | &nbsp;&nbsp;&nbsp;&nbsp; **(93806927)** |
| **Capital Stock Transactions ($):** |  |  |
| Net proceeds from shares sold: |  |  |
| Class A | &nbsp;&nbsp;&nbsp;&nbsp; 66489752 | &nbsp;&nbsp;&nbsp;&nbsp; 118841264 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp; 4280054 | &nbsp;&nbsp;&nbsp;&nbsp; 5180268 |
| Class I | &nbsp;&nbsp;&nbsp;&nbsp; 659138612 | &nbsp;&nbsp;&nbsp;&nbsp; 953464099 |
| Class Y | &nbsp;&nbsp;&nbsp;&nbsp; 10591620 | &nbsp;&nbsp;&nbsp;&nbsp; 24700471 |
| Net assets received in connection with reorganization<sup>(a)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 167769135 |
| Distributions reinvested: |  |  |
| Class A | &nbsp;&nbsp;&nbsp;&nbsp; 21411130 | &nbsp;&nbsp;&nbsp;&nbsp; 13840298 |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp; 799747 | &nbsp;&nbsp;&nbsp;&nbsp; 765351 |
| Class I | &nbsp;&nbsp;&nbsp;&nbsp; 92501012 | &nbsp;&nbsp;&nbsp;&nbsp; 76922481 |
| Class Y | &nbsp;&nbsp;&nbsp;&nbsp; 991190 | &nbsp;&nbsp;&nbsp;&nbsp; 810556 |
| Cost of shares redeemed: |  |  |
| Class A | &nbsp;&nbsp;&nbsp;&nbsp; (102825174) | &nbsp;&nbsp;&nbsp;&nbsp; (109793650) |
| Class C | &nbsp;&nbsp;&nbsp;&nbsp; (6708929) | &nbsp;&nbsp;&nbsp;&nbsp; (5000466) |
| Class I | &nbsp;&nbsp;&nbsp;&nbsp; (604811108) | &nbsp;&nbsp;&nbsp;&nbsp; (719368792) |
| Class Y | &nbsp;&nbsp;&nbsp;&nbsp; (9509582) | &nbsp;&nbsp;&nbsp;&nbsp; (5613072) |
| **Increase (Decrease) in Net Assets from Capital Stock Transactions** | &nbsp;&nbsp;&nbsp;&nbsp; **132348324** | &nbsp;&nbsp;&nbsp;&nbsp; **522517943** |
| **Total Increase (Decrease) in Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp; **128518442** | &nbsp;&nbsp;&nbsp;&nbsp; **577133650** |
| **Net Assets ($):** |  |  |
| Beginning of Period | &nbsp;&nbsp;&nbsp;&nbsp; 2420618943 | &nbsp;&nbsp;&nbsp;&nbsp; 1843485293 |
| **End of Period** | &nbsp;&nbsp;&nbsp;&nbsp; **2549137385** | &nbsp;&nbsp;&nbsp;&nbsp; **2420618943** |

---

**25**

------

STATEMENT OF CHANGES IN NET ASSETS (continued)

---

| | | |
|:---|:---|:---|
|  | Year Ended April 30, | Year Ended April 30, |
|  | 2026 | 2025 |
| **Capital Share Transactions (Shares):** |  |  |
| **Class A**<sup>(b),(c)</sup>  |  |  |
| Shares sold | &nbsp;&nbsp;&nbsp;&nbsp; 7167160 | &nbsp;&nbsp;&nbsp;&nbsp; 12852182 |
| Shares issued in connection with reorganization<sup>(a)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 18019461 |
| Shares issued for distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp; 2308541 | &nbsp;&nbsp;&nbsp;&nbsp; 1500539 |
| Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp; (11100183) | &nbsp;&nbsp;&nbsp;&nbsp; (11878484) |
| **Net Increase (Decrease) in Shares Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp; **(1624482)** | &nbsp;&nbsp;&nbsp;&nbsp; **20493698** |
| **Class C**<sup>(b)</sup>  |  |  |
| Shares sold | &nbsp;&nbsp;&nbsp;&nbsp; 461616 | &nbsp;&nbsp;&nbsp;&nbsp; 557096 |
| Shares issued in connection with reorganization<sup>(a)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 21480 |
| Shares issued for distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp; 86209 | &nbsp;&nbsp;&nbsp;&nbsp; 82910 |
| Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp; (724222) | &nbsp;&nbsp;&nbsp;&nbsp; (542349) |
| **Net Increase (Decrease) in Shares Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp; **(176397)** | &nbsp;&nbsp;&nbsp;&nbsp; **119137** |
| **Class I**<sup>(c)</sup>  |  |  |
| Shares sold | &nbsp;&nbsp;&nbsp;&nbsp; 71099028 | &nbsp;&nbsp;&nbsp;&nbsp; 103087970 |
| Shares issued in connection with reorganization<sup>(a)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 172379 |
| Shares issued for distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp; 9974532 | &nbsp;&nbsp;&nbsp;&nbsp; 8337483 |
| Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp; (65373654) | &nbsp;&nbsp;&nbsp;&nbsp; (78474408) |
| **Net Increase (Decrease) in Shares Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp; **15699906** | &nbsp;&nbsp;&nbsp;&nbsp; **33123424** |
| **Class Y** |  |  |
| Shares sold | &nbsp;&nbsp;&nbsp;&nbsp; 1143821 | &nbsp;&nbsp;&nbsp;&nbsp; 2618901 |
| Shares issued in connection with reorganization<sup>(a)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 92 |
| Shares issued for distributions reinvested | &nbsp;&nbsp;&nbsp;&nbsp; 106862 | &nbsp;&nbsp;&nbsp;&nbsp; 87837 |
| Shares redeemed | &nbsp;&nbsp;&nbsp;&nbsp; (1027467) | &nbsp;&nbsp;&nbsp;&nbsp; (609688) |
| **Net Increase (Decrease) in Shares Outstanding** | &nbsp;&nbsp;&nbsp;&nbsp; **223216** | &nbsp;&nbsp;&nbsp;&nbsp; **2097142** |

---

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

<sup>(a)</sup> As of the close of business on March 28, 2025, pursuant to an Agreement and Plan of Reorganization previously approved by the Company's Board of Directors (the "Board"), all of the assets, subject to the liabilities, of BNY Mellon U.S. Mortgage Fund, Inc. Class A, Class C, Class I, Class Y and Class Z shares (the "Acquired Fund") were transferred to the fund in a tax free exchange at cost basis for Class A, Class C, Class I and Class Y shares to holders of the corresponding class of fund shares (with holders of Class Z shares of the Acquired Fund having received Class A shares of the fund) of Common Stock of equal value. 

<sup>(b)</sup> During the period ended April 30, 2026, 2,094 Class C shares representing $19,484 were automatically converted to 2,095 Class A shares.

<sup>(c)</sup> During the period ended April 30, 2025, 11,555 Class A shares representing $109,986 were exchanged for 11,555 Class I shares.

See notes to financial statements.

**26**

------

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.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, |
| **Class A Shares** | 2026 | 2025 | 2024 | 2023 | 2022 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;9.21 | &nbsp;&nbsp;&nbsp;&nbsp;8.90 | &nbsp;&nbsp;&nbsp;&nbsp;9.27 | &nbsp;&nbsp;&nbsp;&nbsp;9.61 | &nbsp;&nbsp;&nbsp;&nbsp;10.86 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; .40 | &nbsp;&nbsp;&nbsp;&nbsp; .38 | &nbsp;&nbsp;&nbsp;&nbsp; .36 | &nbsp;&nbsp;&nbsp;&nbsp; .30 | &nbsp;&nbsp;&nbsp;&nbsp; .22 |
| Net realized and unrealized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp; .00 <br> <sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .32 | &nbsp;&nbsp;&nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.14)<br>|
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp; .40 | &nbsp;&nbsp;&nbsp;&nbsp; .70 | &nbsp;&nbsp;&nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.92)<br>|
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | &nbsp;&nbsp;&nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.23)<br>|
| Dividends from net realized gain on investments | &nbsp;&nbsp;&nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (.10)<br>|
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.33)<br>|
| Net asset value, end of period | &nbsp;&nbsp;&nbsp;&nbsp;9.20 | &nbsp;&nbsp;&nbsp;&nbsp;9.21 | &nbsp;&nbsp;&nbsp;&nbsp;8.90 | &nbsp;&nbsp;&nbsp;&nbsp;9.27 | &nbsp;&nbsp;&nbsp;&nbsp;9.61 |
| **Total Return (%)**<sup>(c)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp;4.47 | &nbsp;&nbsp;&nbsp;&nbsp;7.86 | &nbsp;&nbsp;&nbsp;&nbsp; (.17)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (8.72)<br>|
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .72 | &nbsp;&nbsp;&nbsp;&nbsp; .71 | &nbsp;&nbsp;&nbsp;&nbsp; .72 | &nbsp;&nbsp;&nbsp;&nbsp; .74 | &nbsp;&nbsp;&nbsp;&nbsp; .72 |
| Ratio of net expenses to average net assets<sup>(d)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; .70 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .70 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .70 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .70 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .70 |
| Ratio of net investment income to average net assets<sup>(d)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; 4.29 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.17 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.01 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.20 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;2.03 |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;&nbsp; 83.07 <br> <sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;111.76 | &nbsp;&nbsp;&nbsp;&nbsp;66.05 | &nbsp;&nbsp;&nbsp;&nbsp;57.85 | &nbsp;&nbsp;&nbsp;&nbsp;68.40 |
| **Net Assets, end of period ($ x 1,000)** | &nbsp;&nbsp;&nbsp;&nbsp; 492311 | &nbsp;&nbsp;&nbsp;&nbsp; 507558 | &nbsp;&nbsp;&nbsp;&nbsp; 308264 | &nbsp;&nbsp;&nbsp;&nbsp; 310009 | &nbsp;&nbsp;&nbsp;&nbsp; 341370 |

---

&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> Exclusive of sales charge.

<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.

<sup>(f)</sup> The portfolio turnover rates excluding mortgage dollar roll transactions for the period ended April 30, 2026 was 71.32%.

See notes to financial statements.

**27**

------

FINANCIAL HIGHLIGHTS (continued)

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, |
| **Class C Shares** | 2026 | 2025 | 2024 | 2023 | 2022 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;9.21 | &nbsp;&nbsp;&nbsp;&nbsp;8.90 | &nbsp;&nbsp;&nbsp;&nbsp;9.27 | &nbsp;&nbsp;&nbsp;&nbsp;9.62 | &nbsp;&nbsp;&nbsp;&nbsp;10.87 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; .33 | &nbsp;&nbsp;&nbsp;&nbsp; .31 | &nbsp;&nbsp;&nbsp;&nbsp; .29 | &nbsp;&nbsp;&nbsp;&nbsp; .22 | &nbsp;&nbsp;&nbsp;&nbsp; .14 |
| Net realized and unrealized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp; .00 <br> <sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .32 | &nbsp;&nbsp;&nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.14)<br>|
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp; .33 | &nbsp;&nbsp;&nbsp;&nbsp; .63 | &nbsp;&nbsp;&nbsp;&nbsp; (.08)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.00)<br>|
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | &nbsp;&nbsp;&nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.15)<br>|
| Dividends from net realized gain on investments | &nbsp;&nbsp;&nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (.10)<br>|
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.23)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.25)<br>|
| Net asset value, end of period | &nbsp;&nbsp;&nbsp;&nbsp;9.20 | &nbsp;&nbsp;&nbsp;&nbsp;9.21 | &nbsp;&nbsp;&nbsp;&nbsp;8.90 | &nbsp;&nbsp;&nbsp;&nbsp;9.27 | &nbsp;&nbsp;&nbsp;&nbsp;9.62 |
| **Total Return (%)**<sup>(c)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp;3.69 | &nbsp;&nbsp;&nbsp;&nbsp;7.06 | &nbsp;&nbsp;&nbsp;&nbsp; (.92)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.23)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (9.40)<br>|
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.54 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 |
| Ratio of net expenses to average net assets<sup>(d)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; 1.45 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.45 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.45 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.45 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.45 |
| Ratio of net investment income to average net assets<sup>(d)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; 3.54 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.41 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.26 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.45 <br> <sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.28 |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;&nbsp; 83.07 <br> <sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;111.76 | &nbsp;&nbsp;&nbsp;&nbsp;66.05 | &nbsp;&nbsp;&nbsp;&nbsp;57.85 | &nbsp;&nbsp;&nbsp;&nbsp;68.40 |
| **Net Assets, end of period ($ x 1,000)** | &nbsp;&nbsp;&nbsp;&nbsp; 20734 | &nbsp;&nbsp;&nbsp;&nbsp; 22368 | &nbsp;&nbsp;&nbsp;&nbsp; 20570 | &nbsp;&nbsp;&nbsp;&nbsp; 16932 | &nbsp;&nbsp;&nbsp;&nbsp; 17471 |

---

&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> Exclusive of sales charge.

<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.

<sup>(f)</sup> The portfolio turnover rates excluding mortgage dollar roll transactions for the period ended April 30, 2026 was 71.32%.

See notes to financial statements.

**28**

------

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, |
| **Class I Shares** | 2026 | 2025 | 2024 | 2023 | 2022 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;9.21 | &nbsp;&nbsp;&nbsp;&nbsp;8.90 | &nbsp;&nbsp;&nbsp;&nbsp;9.27 | &nbsp;&nbsp;&nbsp;&nbsp;9.61 | &nbsp;&nbsp;&nbsp;&nbsp;10.86 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; .42 | &nbsp;&nbsp;&nbsp;&nbsp; .41 | &nbsp;&nbsp;&nbsp;&nbsp; .38 | &nbsp;&nbsp;&nbsp;&nbsp; .31 | &nbsp;&nbsp;&nbsp;&nbsp; .24 |
| Net realized and unrealized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp; .01 | &nbsp;&nbsp;&nbsp;&nbsp; .31 | &nbsp;&nbsp;&nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.33)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.13)<br>|
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp; .43 | &nbsp;&nbsp;&nbsp;&nbsp; .72 | &nbsp;&nbsp;&nbsp;&nbsp; .01 | &nbsp;&nbsp;&nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.89)<br>|
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | &nbsp;&nbsp;&nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.26)<br>|
| Dividends from net realized gain on investments | &nbsp;&nbsp;&nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (.10)<br>|
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.36)<br>|
| Net asset value, end of period | &nbsp;&nbsp;&nbsp;&nbsp;9.20 | &nbsp;&nbsp;&nbsp;&nbsp;9.21 | &nbsp;&nbsp;&nbsp;&nbsp;8.90 | &nbsp;&nbsp;&nbsp;&nbsp;9.27 | &nbsp;&nbsp;&nbsp;&nbsp;9.61 |
| **Total Return (%)** | &nbsp;&nbsp;&nbsp;&nbsp;4.74 | &nbsp;&nbsp;&nbsp;&nbsp;8.13 | &nbsp;&nbsp;&nbsp;&nbsp; .08 | &nbsp;&nbsp;&nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (8.50)<br>|
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .46 | &nbsp;&nbsp;&nbsp;&nbsp; .46 | &nbsp;&nbsp;&nbsp;&nbsp; .47 | &nbsp;&nbsp;&nbsp;&nbsp; .47 | &nbsp;&nbsp;&nbsp;&nbsp; .46 |
| Ratio of net expenses to average net assets<sup>(b)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; .45 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .45 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .45 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .45 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .45 |
| Ratio of net investment income to average net assets<sup>(b)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; 4.53 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.41 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.26 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.44 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;2.27 |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;&nbsp; 83.07 <br> <sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;111.76 | &nbsp;&nbsp;&nbsp;&nbsp;66.05 | &nbsp;&nbsp;&nbsp;&nbsp;57.85 | &nbsp;&nbsp;&nbsp;&nbsp;68.40 |
| **Net Assets, end of period ($ x 1,000)** | &nbsp;&nbsp;&nbsp;&nbsp; 1996822 | &nbsp;&nbsp;&nbsp;&nbsp; 1853452 | &nbsp;&nbsp;&nbsp;&nbsp; 1497319 | &nbsp;&nbsp;&nbsp;&nbsp; 987798 | &nbsp;&nbsp;&nbsp;&nbsp; 1013672 |

---

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

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

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

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

<sup>(d)</sup> The portfolio turnover rates excluding mortgage dollar roll transactions for the period ended April 30, 2026 was 71.32%.

See notes to financial statements.

**29**

------

FINANCIAL HIGHLIGHTS (continued)

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, | Year Ended April 30, |
| **Class Y Shares** | 2026 | 2025 | 2024 | 2023 | 2022 |
| **Per Share Data ($):** | **Per Share Data ($):** |  |  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp;&nbsp;9.21 | &nbsp;&nbsp;&nbsp;&nbsp;8.90 | &nbsp;&nbsp;&nbsp;&nbsp;9.27 | &nbsp;&nbsp;&nbsp;&nbsp;9.62 | &nbsp;&nbsp;&nbsp;&nbsp;10.87 |
| Investment Operations: | Investment Operations: |  |  |  |  |
| Net investment income<sup>(a)</sup>  | &nbsp;&nbsp;&nbsp;&nbsp; .43 | &nbsp;&nbsp;&nbsp;&nbsp; .41 | &nbsp;&nbsp;&nbsp;&nbsp; .39 | &nbsp;&nbsp;&nbsp;&nbsp; .28 | &nbsp;&nbsp;&nbsp;&nbsp; .25 |
| Net realized and unrealized gain (loss) on investments | &nbsp;&nbsp;&nbsp;&nbsp; .00 <br> <sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .31 | &nbsp;&nbsp;&nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1.13)<br>|
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp; .43 | &nbsp;&nbsp;&nbsp;&nbsp; .72 | &nbsp;&nbsp;&nbsp;&nbsp; .01 | &nbsp;&nbsp;&nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.88)<br>|
| Distributions: |  |  |  |  |  |
| Dividends from net investment income | &nbsp;&nbsp;&nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.27)<br>|
| Dividends from net realized gain on investments | &nbsp;&nbsp;&nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (.10)<br>|
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.41)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (.37)<br>|
| Net asset value, end of period | &nbsp;&nbsp;&nbsp;&nbsp;9.20 | &nbsp;&nbsp;&nbsp;&nbsp;9.21 | &nbsp;&nbsp;&nbsp;&nbsp;8.90 | &nbsp;&nbsp;&nbsp;&nbsp;9.27 | &nbsp;&nbsp;&nbsp;&nbsp;9.62 |
| **Total Return (%)** | &nbsp;&nbsp;&nbsp;&nbsp;4.80 | &nbsp;&nbsp;&nbsp;&nbsp;8.19 | &nbsp;&nbsp;&nbsp;&nbsp; .13 | &nbsp;&nbsp;&nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (8.44)<br>|
| **Ratios/Supplemental Data (%):** | **Ratios/Supplemental Data (%):** |  |  |  |  |
| Ratio of total expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .40 | &nbsp;&nbsp;&nbsp;&nbsp; .39 | &nbsp;&nbsp;&nbsp;&nbsp; .40 | &nbsp;&nbsp;&nbsp;&nbsp; .41 | &nbsp;&nbsp;&nbsp;&nbsp; .40 |
| Ratio of net expenses to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; .40 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .39 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .40 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .41 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; .40 |
| Ratio of net investment income to average net assets | &nbsp;&nbsp;&nbsp;&nbsp; 4.59 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.47 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.31 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.48 <br> <sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;2.32 |
| Portfolio Turnover Rate | &nbsp;&nbsp;&nbsp;&nbsp; 83.07 <br> <sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;111.76 | &nbsp;&nbsp;&nbsp;&nbsp;66.05 | &nbsp;&nbsp;&nbsp;&nbsp;57.85 | &nbsp;&nbsp;&nbsp;&nbsp;68.40 |
| **Net Assets, end of period ($ x 1,000)** | &nbsp;&nbsp;&nbsp;&nbsp; 39270 | &nbsp;&nbsp;&nbsp;&nbsp; 37241 | &nbsp;&nbsp;&nbsp;&nbsp; 17332 | &nbsp;&nbsp;&nbsp;&nbsp; 11050 | &nbsp;&nbsp;&nbsp;&nbsp; 1527 |

---

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

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

<sup>(b)</sup> Amount represents less than $.01 per share.

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

<sup>(d)</sup> The portfolio turnover rates excluding mortgage dollar roll transactions for the period ended April 30, 2026 was 71.32%.

See notes to financial statements.

**30**

------

NOTES TO FINANCIAL STATEMENTS

**NOTE 1—**

**Significant Accounting Policies:**

BNY Mellon Core Plus Fund (the "fund") is the sole series of BNY Mellon Absolute Insight Funds, Inc. (the "Company"), which is registered under the Investment Company Act of 1940, as amended (the "Act"), as a diversified open-end management investment company. The fund's investment objective is to seek high total return consistent with 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. Insight North America LLC (the "Sub-Adviser"), an indirect wholly-owned subsidiary of BNY and an affiliate of the Adviser, serves as the fund's sub-adviser.

BNY Mellon Securities Corporation (the "Distributor"), a wholly-owned subsidiary of the Adviser, is the distributor of the fund's shares. The fund is authorized to issue 550 million shares of $.001 par value of Common Stock. The fund currently has authorized four classes of shares: Class A (100 million shares authorized), Class C (50 million shares authorized), Class I (300 million shares authorized) and Class Y (100 million shares authorized). Class A and Class C shares are sold primarily to retail investors through financial intermediaries and bear distribution and/or shareholder services plan fees. Class A shares generally are subject to a sales charge imposed at the time of purchase. Class A shares bought without an initial sales charge as part of an investment of $250,000 or more may be charged a contingent deferred sales charge ("CDSC") of 1.00% if redeemed within one year. Class C shares are subject to a CDSC imposed on Class C shares redeemed within one year of purchase. Class C shares automatically convert to Class A shares eight years after the date of purchase, without the imposition of a sales charge. Class I shares are sold primarily to bank trust departments and other financial service providers (including BNY and its affiliates), acting on behalf of customers having a qualified trust or an investment account or relationship at such institution, and bear no distribution or shareholder services plan fees. Class Y shares are sold at net asset value per share generally to institutional investors, and bear no distribution or shareholder services plan fees. Class I and Class Y shares are offered without a front-end sales charge or CDSC. Other differences between the classes include the services offered to and the expenses borne by each class, the allocation of certain transfer agency costs and certain voting rights. Income, expenses (other than expenses attributable to a specific class), and realized and unrealized gains or losses on investments are allocated to each class of shares based on its relative net assets.

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

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

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

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

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

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

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

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

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

**31**

------

NOTES TO FINANCIAL STATEMENTS (continued)

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

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

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 Board. Overnight and certain other short-term debt securities and instruments (excluding Treasury bills) will be valued by the amortized cost method, which approximates fair 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.

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

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

Forward foreign currency exchange contracts ("forward contracts") generally are valued using the forward rate obtained from a Service and are categorized within Level 2 of the fair value hierarchy. Futures contracts will be valued at the most recent settlement price and are generally categorized within Level 1 of the fair value hierarchy. Investments in swap agreements are valued each business day by a Service. Swap agreements are valued by the Service by using a swap pricing model which incorporates among other factors, default probabilities, recovery rates, credit curves of the underlying issuer and swap spreads on interest rates and are generally categorized within Level 2 of the fair value hierarchy.

The following is a summary of the inputs used as of April 30, 2026 in valuing the fund's investments:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 -** <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>  |  |  |  |  |
| Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 237147821 | &nbsp;&nbsp; — | &nbsp;&nbsp; **237147821** |
| Collateralized Loan Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 96470386 | &nbsp;&nbsp; — | &nbsp;&nbsp; **96470386** |
| Commercial Mortgage-Backed | &nbsp;&nbsp; — | &nbsp;&nbsp; 125508329 | &nbsp;&nbsp; — | &nbsp;&nbsp; **125508329** |
| Convertible Corporate Bonds and Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 41406543 | &nbsp;&nbsp; — | &nbsp;&nbsp; **41406543** |
| Corporate Bonds and Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 1073305272 | &nbsp;&nbsp; — | &nbsp;&nbsp; **1073305272** |
| Foreign Governmental | &nbsp;&nbsp; — | &nbsp;&nbsp; 226833056 | &nbsp;&nbsp; — | &nbsp;&nbsp; **226833056** |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 2007903 | &nbsp;&nbsp; — | &nbsp;&nbsp; **2007903** |

---

**32**

------

NOTES TO FINANCIAL STATEMENTS (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 -**<br> **Unadjusted**<br> **Quoted Prices**<br>| **Level 2- Other**<br> **Significant** <br> **Observable Inputs**<br>| **Level 3-**<br> **Significant**<br> **Unobservable**<br> **Inputs**<br>| **Total** |
| **Assets ($) (continued)** |  |  |  |  |
| U.S. Government Agencies Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 20790089 | &nbsp;&nbsp; — | &nbsp;&nbsp; **20790089** |
| U.S. Government Agencies Collateralized Municipal-Backed <br> Securities<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 215104 | &nbsp;&nbsp; — | &nbsp;&nbsp; **215104** |
| U.S. Government Agencies Mortgage-Backed | &nbsp;&nbsp; — | &nbsp;&nbsp; 699841727 | &nbsp;&nbsp; — | &nbsp;&nbsp; **699841727** |
| U.S. Treasury Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 115335775 | &nbsp;&nbsp; — | &nbsp;&nbsp; **115335775** |
| Investment Companies | &nbsp;&nbsp; 23338008 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **23338008** |
|  | &nbsp;&nbsp; **23338008** | &nbsp;&nbsp; **2638862005** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **2662200013** |
| Other Financial Instruments: |  |  |  |  |
| Forward Foreign Currency Exchange Contracts<sup>††</sup>  | &nbsp;&nbsp; — | &nbsp;&nbsp; 112148 | &nbsp;&nbsp; — | &nbsp;&nbsp; **112148** |
| Futures<sup>††</sup>  | &nbsp;&nbsp; 5814816 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **5814816** |
| Swap Agreements<sup>††</sup>  | &nbsp;&nbsp; — | &nbsp;&nbsp; 604678 | &nbsp;&nbsp; — | &nbsp;&nbsp; **604678** |
|  | &nbsp;&nbsp; **5814816** | &nbsp;&nbsp; **716826** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **6531642** |
| **Liabilities ($)** |  |  |  |  |
| Investments in Securities:<sup>†</sup>  |  |  |  |  |
| U.S. Government Agencies Mortgage-Backed | &nbsp;&nbsp; — | &nbsp;&nbsp; (50711619) | &nbsp;&nbsp; — | &nbsp;&nbsp; **(50711619)** |
| Other Financial Instruments: |  |  |  |  |
| Forward Foreign Currency Exchange Contracts<sup>††</sup>  | &nbsp;&nbsp; — | &nbsp;&nbsp; (3790686) | &nbsp;&nbsp; — | &nbsp;&nbsp; **(3790686)** |
| Futures<sup>††</sup>  | &nbsp;&nbsp; (7936817) | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; **(7936817)** |
| Swap Agreements<sup>††</sup>  | &nbsp;&nbsp; — | &nbsp;&nbsp; (3684388) | &nbsp;&nbsp; — | &nbsp;&nbsp; **(3684388)** |
|  | &nbsp;&nbsp; **(7936817)** | &nbsp;&nbsp; **(58186693)** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **(66123510)** |

---

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

---

| | |
|:---|:---|
| <sup>†</sup>  | See Schedule of Investments for additional detailed categorizations, if any. |
| <sup>††</sup>  | 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) Foreign currency transactions:** The 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 fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the value of assets and liabilities other than investments resulting from changes in exchange rates. Foreign currency gains and losses on foreign currency transactions are also included with net realized and unrealized gain or loss on investments.

**Foreign taxes:** The fund may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the fund invests. These foreign taxes, if any, are paid by the fund and are reflected in the Statement of Operations, if applicable. Foreign taxes payable or deferred or those subject to reclaims as of April 30, 2026, if any, are disclosed in the fund's Statement of Assets and Liabilities.

**(c) Securities transactions and investment income:** Securities transactions are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income is recognized on the ex-dividend date and interest income, including, where applicable, accretion of discount and amortization of premium on investments, is recognized on the accrual basis.

**33**

------

NOTES TO FINANCIAL STATEMENTS (continued)

Pursuant to a securities lending agreement with BNY, the fund may lend securities to qualified institutions. It is the fund's policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral equivalent to at least 100% of the market value of securities on loan is maintained at all times. Collateral is either in the form of cash, which can be invested in certain money market mutual funds managed by the Adviser, or U.S. Government and Agency securities. Any non-cash collateral received cannot be sold or re-pledged by the fund, except in the event of borrower default, and is not reflected in the Statement of Assets and Liabilities. The securities on loan, if any, are also disclosed in the fund's Schedule of Investments. The fund is entitled to receive all dividends, interest and distributions on securities loaned, in addition to income earned as a result of the lending transaction. Should a borrower fail to return the securities in a timely manner, BNY is required to replace the securities for the benefit of the fund or credit the fund with the market value of the unreturned securities and is subrogated to the fund's rights against the borrower and the collateral. Additionally, the contractual maturity of security lending transactions are on an overnight and continuous basis. During the period ended April 30, 2026, BNY earned $15,827 from the lending of the fund's portfolio securities, pursuant to the securities lending agreement.

For financial reporting purposes, the fund elects not to offset assets and liabilities subject to a securities lending agreement, if any, in the Statement of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statement of Assets and Liabilities. As of April 30, 2026, the fund had securities lending and the impact of netting of assets and liabilities and the offsetting of collateral pledged or received, if any, based on contractual netting/set-off provisions in the securities lending agreement are detailed in the following table:

---

| | |
|:---|:---|
| **Assets ($)** |  |
| Gross amount of securities loaned, at <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; 46800860 |
| 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; (46800860 )<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>  | 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>|

---

**(d) Affiliated issuers:** Investments in other investment companies advised by the Adviser are considered "affiliated" under the Act.

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

**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

**34**

------

NOTES TO FINANCIAL STATEMENTS (continued)

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. Interest rate changes may have different effects on the values of mortgage-related securities because of prepayment and extension risks. In addition, the rates on floating rate instruments adjust periodically with changes in market interest rates. Although these instruments are generally less sensitive to interest rate changes than fixed rate instruments, the value of floating rate loans and other floating rate securities may decline if their interest rates do not rise as quickly, or as much, as general 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.

**Foreign Investment Risk**: To the extent the fund invests in foreign securities, the fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers. Special risks associated with investments in foreign issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political and economic instability and differing auditing and legal standards.

**Derivatives Risk**: A small investment in derivatives could have a potentially large impact on the fund's performance. The use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets, and the fund's use of derivatives may result in losses to the fund. Derivatives in which the fund may invest can be highly volatile, illiquid and difficult to value, and there is the risk that changes in the value of a derivative held by the fund will not correlate with the underlying assets or the fund's other investments in the manner intended. Certain derivatives have the potential for unlimited loss, regardless of the size of the initial investment, and involve greater risks than the underlying assets because, in addition to general market risks, they are subject to liquidity risk, credit and counterparty risk (failure of the counterparty to the derivatives transaction to honor its obligation) and pricing risk (risk that the derivative cannot or will not be accurately valued).

**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.

**(f) 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.

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

As of and during the period ended April 30, 2026, the fund did not have any liabilities for any uncertain tax positions. The fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During the period ended April 30, 2026, the fund did not incur any interest or penalties.

Each tax year in the four-year period ended April 30, 2026 remains subject to examination by the Internal Revenue Service and state taxing authorities.

**35**

------

NOTES TO FINANCIAL STATEMENTS (continued)

At April 30, 2026, the components of accumulated earnings on a tax basis were as follows: undistributed ordinary income $490,249, accumulated capital and other losses $231,382,558 and unrealized depreciation $26,012,986. In addition, the fund deferred for tax purposes late year ordinary losses of $3,416,873 to the first day of the following fiscal year.

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 accumulated capital loss carryover is available for federal income tax purposes to be applied against future net realized capital gains, if any, realized subsequent to April 30, 2026. The fund has $21,685,376 of short-term capital losses and $208,468,467 of long-term capital losses which can be carried forward for an unlimited period.

As a result of the fund's merger with BNY Mellon U.S. Mortgage Fund, Inc. on March 28, 2025, capital losses of $31,286,105 are available to offset future realized gains, if any. Based on certain provisions in the Code, these losses can be utilized in subsequent years but are subject to an annual limitation.

The tax character of distributions paid to shareholders during the fiscal years ended April 30, 2026 and April 30, 2025 were as follows: ordinary income $117,996,893 and $93,806,927, respectively.

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

**NOTE 2—**

**Bank Lines of Credit:**

The fund participates with other long-term open-end funds managed by the Adviser in a $738 million unsecured credit facility led by Citibank, N.A. (the "Citibank Credit Facility") and a $300 million unsecured credit facility provided by BNY (the "BNY Credit Facility"), each to be utilized primarily for temporary or emergency purposes, including the financing of redemptions (each, a "Facility"). The Citibank Credit Facility is available in two tranches: (i) Tranche A is in an amount equal to $618 million and is available to all long-term open-ended funds, including the fund, and (ii) Tranche B is an amount equal to $120 million and is available only to BNY Mellon Floating Rate Income Fund, a series of BNY Mellon Investment Funds IV, Inc. In connection therewith, the fund has agreed to pay its pro rata portion of commitment fees for Tranche A of the Citibank Credit Facility and the BNY Credit Facility. Interest is charged to the fund based on rates determined pursuant to the terms of the respective Facility at the time of borrowing. During the period ended April 30, 2026, the fund did not borrow under either Facility.

**NOTE 3—**

**Management Fee, Sub-Advisory Fee and Other Transactions with Affiliates:**

**(a)** Pursuant to a management agreement with the Adviser, the management fee is computed at the annual rate of .35% of the value of the fund's average daily net assets and is payable monthly. The Adviser has contractually agreed, from May 1, 2025 through August 29, 2026, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of the fund's share classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .45% of the value of the fund's average daily net assets. On or after August 29, 2026, the Adviser may terminate this expense limitation agreement at any time. The reduction in expenses, pursuant to the undertaking, amounted to $352,896 during the period ended April 30, 2026.

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 percentage of the value of the fund's average daily net assets. The Adviser has obtained an exemptive order from the SEC (the "Order"), upon which the fund may rely, to use a manager of managers approach that permits the Adviser, subject to certain conditions and approval by the Board, to enter into and materially amend sub-investment advisory agreements with one or more sub-advisers who are either unaffiliated with the Adviser or are wholly-owned subsidiaries (as defined under the Act) of the Adviser's ultimate parent company, BNY, without obtaining shareholder approval. The Order also allows the fund to disclose the sub-advisory fee

**36**

------

NOTES TO FINANCIAL STATEMENTS (continued)

paid by the Adviser to any unaffiliated sub-adviser in the aggregate with other unaffiliated sub-advisers in documents filed with the SEC and provided to shareholders. In addition, pursuant to the Order, it is not necessary to disclose the sub-advisory fee payable by the Adviser separately to a sub-adviser that is a wholly-owned subsidiary of BNY in documents filed with the SEC and provided to shareholders; such fees are to be aggregated with fees payable to the Adviser. The Adviser has ultimate responsibility (subject to oversight by the Board) to supervise any sub-adviser and recommend the hiring, termination, and replacement of any sub-adviser to the Board.

During the period ended April 30, 2026, the Distributor retained $932 from commissions earned on sales of the fund's Class A shares, $33,605 and $1,695 from CDSC fees on redemptions of the fund's Class A and Class C shares, respectively.

**(b)** Under the distribution plan adopted pursuant to Rule 12b-1 under the Act (the "Distribution Plan"), Class C shares pay the Distributor for distributing its shares at an annual rate of .75% of the value of its average daily net assets. The Distributor may pay one or more service agents in respect of advertising, marketing and other distribution services, and determines the amounts, if any, to be paid to service agents and the basis on which such payments are made. During the period ended April 30, 2026, Class C shares were charged $160,769 pursuant to the Distribution Plan.

**(c)** Under the shareholder services plan (the "Shareholder Services Plan"), Class A and Class C shares pay the Distributor at an annual rate of .25% of the value of their average daily net assets for the provision of certain services. The services provided may include personal services relating to shareholder accounts, such as answering shareholder inquiries regarding the fund, and services related to the maintenance of shareholder accounts. The Distributor may make payments to service agents (securities dealers, financial institutions or other industry professionals) with respect to these services. The Distributor determines the amounts to be paid to service agents. During the period ended April 30, 2026, Class A and Class C shares were charged $1,264,222 and $53,590, respectively, 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 transfer agency and cash management services for the fund. The majority of Transfer Agent fees are comprised of amounts paid on a per account basis, while cash management fees are related to fund subscriptions and redemptions. During the period ended April 30, 2026, the fund was charged $226,011 for transfer agency services. These fees are included in Shareholder servicing costs in the Statement of Operations. These fees were partially offset by earnings credits of $4,582.

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 April 30, 2026, the fund was charged $51,622 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 April 30, 2026, the fund was charged $16,975 pursuant to the agreement, which is included in Shareholder servicing costs in the Statement of Operations.

During the period ended April 30, 2026, the fund was charged $27,572 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 April 30, 2026, the Custodian was compensated $26,708 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 $741,118, Distribution Plan fees of $12,902, Shareholder Services Plan fees of $106,205, Custodian fees of $27,000, Chief Compliance Officer fees of $6,237, Transfer Agent fees of $59,027, checkwriting fees of $2,800 and shareholder and regulatory reports service fees of $10,000, which are offset against an expense reimbursement currently in effect in the amount of $28,402.

**37**

------

NOTES TO FINANCIAL STATEMENTS (continued)

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

**(d)** 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 April 30, 2026, amounted to $2,285,082,725 and $2,073,207,492, respectively, of which $293,441,350 in purchases and $293,203,088 in sales were from mortgage dollar transactions.

**Mortgage Dollar Rolls:** A mortgage dollar roll transaction involves a sale by the fund of mortgage related securities that it holds with an agreement by the fund to repurchase similar securities at an agreed upon price and date. The securities purchased will bear the same interest rate as those sold, but generally will be collateralized by pools of mortgages with different prepayment histories than those securities sold. The fund accounts for mortgage dollar rolls as purchases and sales transactions. The fund executes mortgage dollar rolls entirely in the To-Be-Announced ("TBA") market.

**TBA Securities:** During the period ended April 30, 2026, the fund transacted in TBA securities that involved buying or selling mortgage-backed securities on a forward commitment basis. A TBA transaction typically does not designate the actual security to be delivered and only includes an approximate principal amount; however, delivered securities must meet specified terms defined by industry guidelines, including issuer, rate and current principal amount outstanding on underlying mortgage pools. TBA securities subject to a forward commitment to sell at period end are included at the end of the fund's Schedule of Investments. The proceeds and value of these commitments are reflected in the fund's Statement of Assets and Liabilities as Receivable for TBA sale commitments (included in Receivable for investment securities sold-TBA) and TBA sale commitments, at value, respectively.

The fund enters into forward-settling mortgage-backed securities transactions (including TBA trades) pursuant to Master Securities Forward Transaction Agreements ("MSFTAs") with approved counterparties. The MSFTAs provide for rights of setoff and close-out netting of covered transactions with the same counterparty upon an event of default and require posting or receipt of collateral (including cash) based on changes in the fair value of open positions.

The fund does not offset TBA-related assets and liabilities in the statement of assets and liabilities because the criteria for offsetting under GAAP are not met in the ordinary course of business. However, the fund's TBA positions are subject to enforceable master netting arrangements. Collateral posted or received under MSFTAs is presented separately as "Cash pledged as collateral" or "Cash received as collateral", if any. Collateral amounts are not offset against the related assets or liabilities except where offsetting criteria are met.

At April 30, 2026, the amounts are as follows:

---

| | | |
|:---|:---|:---|
| **TBA Sale Commitments:** | **Assets ($)** | **Liabilities ($)** |
| TBA forward receivables/payables (fair <br> value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80871442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (153522413)<br>|
| Amounts offset in the statement of <br> financial position<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; - |
| Net amounts presented | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80871442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (153522413)<br>|
| Financial instruments subject to MSFTA <br> (not offset)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (50711619)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123092754 |
| Financial collateral (including cash) <br> subject to MSFTA<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; - |
| Net amount | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30159823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30429659)<br>|

---

**Derivatives**: A derivative is a financial instrument whose performance is derived from the performance of another asset. The fund enters into International Swaps and Derivatives Association, Inc. Master Agreements or similar agreements (collectively, "Master Agreements") with its over-the counter ("OTC") derivative contract counterparties in order to, among other things, reduce its credit risk to counterparties. Master Agreements include provisions for general obligations, representations, collateral and events of default or termination. Under a Master Agreement, the fund may offset with the counterparty certain derivative financial instruments' payables and/or receivables with collateral held and/or posted and create one single net payment in the event of default or termination. Rule 18f-4 under the Act regulates the use of derivatives transactions for certain funds registered under the Act. Each type of derivative instrument that was held by the fund during the period ended April 30, 2026 is discussed below.

**38**

------

NOTES TO FINANCIAL STATEMENTS (continued)

**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 April 30, 2026 are set forth in the fund's Schedule of Investments.

**Forward Foreign Currency Exchange Contracts**: The fund enters into forward contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings, to settle foreign currency transactions or as a part of its investment strategy. When executing forward contracts, the fund is obligated to buy or sell a foreign currency at a specified rate on a certain date in the future. With respect to sales of forward contracts, the fund incurs a loss if the value of the contract increases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract decreases between those dates. With respect to purchases of forward contracts, the fund incurs a loss if the value of the contract decreases between the date the forward contract is opened and the date the forward contract is closed. The fund realizes a gain if the value of the contract increases between those dates. Any realized or unrealized gains or losses which occurred during the period are reflected in the Statement of Operations. The fund is exposed to foreign currency risk as a result of changes in value of underlying financial instruments. The fund is also exposed to credit risk associated with counterparty non-performance on these forward contracts, which is generally limited to the unrealized gain on each open contract. The risk of non-payment may be mitigated by Master Agreements, if any, between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund's exposure to the counterparty. Forward contracts open at April 30, 2026 are set forth in the Schedule of Investments.

**Swap Agreements**: The fund enters into swap agreements to exchange the interest rate on, or return generated by, one nominal instrument for the return generated by another nominal instrument. Swap agreements are privately negotiated in the OTC market or centrally cleared. The fund enters into these agreements to hedge certain market or interest rate risks, to manage the interest rate sensitivity (sometimes called duration) of fixed income securities, to provide a substitute for purchasing or selling particular securities or to increase potential returns.

For OTC swaps, the fund accrues for interim payments on a daily basis, with the net amount recorded within unrealized appreciation (depreciation) on swap agreements in the Statement of Assets and Liabilities. Once the interim payments are settled in cash, the net amount is recorded as a realized gain (loss) on swaps, in addition to realized gain (loss) recorded upon the termination of swap agreements in the Statement of Operations. Upfront payments made and/or received by the fund, are recorded as an asset and/or liability in the Statement of Assets and Liabilities and are recorded as a realized gain or loss ratably over the agreement's term/event with the exception of forward starting interest rate swaps which are recorded as realized gains or losses on the termination date.

Upon entering into centrally cleared swap agreements, an initial margin deposit is required with a counterparty, which consists of cash or cash equivalents. The amount of these deposits is determined by the exchange on which the agreement is traded and is subject to change. The change in valuation of centrally cleared swaps is recorded as a receivable or payable for variation margin in the Statement of Assets and Liabilities. Payments received from (paid to) the counterparty, including upon termination, are recorded as realized gain (loss) in the Statement of Operations.

Fluctuations in the value of swap agreements are recorded for financial statement purposes as unrealized appreciation or depreciation on swap agreements.

**Interest Rate Swaps:** Interest rate swaps involve the exchange of commitments to pay and receive interest based on a notional principal amount. The fund may elect to pay a fixed rate and receive a floating rate, or receive a fixed rate and pay a floating rate on a notional principal amount. The net interest received or paid on interest rate swap agreements is included within realized gain (loss) on swap agreements in the Statement of Operations. Interest rate swap agreements are subject to general market risk, liquidity risk, counterparty risk and interest rate risk.

**39**

------

NOTES TO FINANCIAL STATEMENTS (continued)

The fund enters into inflation swap agreement to gain exposure to inflation. An inflation swap is an agreement in which one party agrees to pay the cumulative percentage increase in a price index (such as the Consumer Price Index (CPI) with respect to CPI swaps) over the term of the swap (with some lag on the inflation index), and the other pays a compounded fixed rate. Inflation swaps may be used to protect the value of securities against an unexpected change in the rate of inflation measured by an inflation index since the value of these agreements is expected to increase if there are unexpected inflation increases. Inflation swap agreements are within Interest rate swaps open at April 30, 2026 which are set forth in the Schedule of Investments.

For OTC swaps, the fund's maximum risk of loss from counterparty risk is the discounted value of the cash flows to be received from the counterparty over the agreement's remaining life, to the extent that the amount is positive. The risk of non-payment may be mitigated by Master Agreements, if any, between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund's exposure to the counterparty. There is minimal counterparty risk to the fund with centrally cleared swaps since they are exchange traded and the exchange guarantees these swaps against default. Interest rate swaps open at April 30, 2026 are set forth in the Schedule of Investments.

**Credit Default Swaps:** Credit default swaps involve commitments to pay a fixed interest rate in exchange for payment if a credit event affecting a third party (the referenced obligation or index) occurs. Credit events may include a failure to pay interest or principal, bankruptcy, or restructuring. The fund enters into these agreements to manage its exposure to the market or certain sectors of the market, to reduce its risk exposure to defaults of corporate and sovereign issuers, or to create exposure to corporate or sovereign issuers to which it is not otherwise exposed. For those credit default swaps in which the fund is paying a fixed rate, the fund is buying credit protection on the instrument. In the event of a credit event, the fund would receive the full notional amount for the reference obligation. For those credit default swaps in which the fund is receiving a fixed rate, the fund is selling credit protection on the underlying instrument. The maximum payouts for these agreements are limited to the notional amount of each swap. Credit default swaps may involve greater risks than if the fund had invested in the reference obligation directly and are subject to general market risk, liquidity risk, counterparty risk and credit risk. The risk of non-payment may be mitigated by Master Agreements, if any, between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund's exposure to the counterparty.

The maximum potential amount of future payments (undiscounted) that a fund as a seller of protection could be required to make under a credit default swap agreement would be an amount equal to the notional amount of the agreement which may exceed the amount of unrealized appreciation or depreciation reflected in the Statement of Assets and Liabilities. Notional amounts of all credit default swap agreements are disclosed in the Schedule of Investments, which summarizes open credit default swaps entered into by the fund. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, underlying securities comprising the referenced index, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swap agreements entered into by the fund for the same referenced entity or entities. Credit default swaps open at April 30, 2026 are set forth in the Schedule of Investments.

GAAP requires disclosure for (i) the nature and terms of the credit derivative, reasons for entering into the credit derivative, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative, (ii) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative, (iii) the fair value of the credit derivative, and (iv) the nature of any recourse provisions and assets held either as collateral or by third parties. All required disclosures have been made and are incorporated within the current period as part of the Notes to the Schedule of Investments and disclosures within this Note.

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

Fair value of derivative instruments as of April 30, 2026 is shown below:

---

| | |
|:---|:---|
| Interest Rate Risk<br>&nbsp;&nbsp;&nbsp;&nbsp; 6419494 <br> <sup>(1),(2)</sup><br>| Interest Rate Risk<br>&nbsp;&nbsp;&nbsp;&nbsp; (9921627 )<sup>(1),(2)</sup><br>|
| Foreign Exchange Risk<br>&nbsp;&nbsp;&nbsp;&nbsp; 112148 <br> <sup>(3)</sup><br>| Foreign Exchange Risk<br>&nbsp;&nbsp;&nbsp;&nbsp; (3790686 )<sup>(3)</sup><br>|

---

**40**

------

NOTES TO FINANCIAL STATEMENTS (continued)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (continued) | &nbsp;&nbsp;&nbsp;&nbsp; **Derivative**<br> **Assets ($)**<br>|  | &nbsp;&nbsp;&nbsp;&nbsp; **Derivative**<br> **Liabilities ($)**<br>|
| Credit Risk | &nbsp;&nbsp;&nbsp;&nbsp; - | Credit Risk | &nbsp;&nbsp;&nbsp;&nbsp; (1699578 )<sup>(1)</sup><br>|
| **Gross fair value of derivative contracts** | &nbsp;&nbsp;&nbsp;&nbsp; **6531642** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(15411891)**<br>|

---

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

---

| | |
|:---|:---|
| Statement of Assets and Liabilities location: | Statement of Assets and Liabilities location: |
| <sup>(1)</sup>  | Includes cumulative appreciation (depreciation) on swap agreements as reported in the Schedule of Investments. Unrealized appreciation (depreciation) on OTC <br> swap agreements and only unpaid variation margin on centrally cleared swap agreements, is reported in the Statement of Assets and Liabilities.<br>|
| <sup>(2)</sup>  | 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>|
| <sup>(3)</sup>  | Unrealized appreciation (depreciation) on forward foreign currency exchange contracts. |

---

The effect of derivative instruments in the Statement of Operations during the period ended April 30, 2026 is shown below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Amount of realized gain (loss) on derivatives recognized in income ($) | Amount of realized gain (loss) on derivatives recognized in income ($) | Amount of realized gain (loss) on derivatives recognized in income ($) | Amount of realized gain (loss) on derivatives recognized in income ($) | Amount of realized gain (loss) on derivatives recognized in income ($) |
| **Underlying risk** | **Futures**<sup>(1)</sup>  | **Forward Contracts**<sup>(2)</sup>  | **Swap Agreements**<sup>(3)</sup>  | **Total** |
| Interest Rate | &nbsp;&nbsp;&nbsp;&nbsp; (984891) | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 591400 | &nbsp;&nbsp;&nbsp;&nbsp; **(393491)** |
| Foreign Exchange | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 52523 | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; **52523** |
| Credit | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (3599572) | &nbsp;&nbsp;&nbsp;&nbsp; **(3599572)** |
| **Total** | &nbsp;&nbsp;&nbsp;&nbsp; **(984891)** | &nbsp;&nbsp;&nbsp;&nbsp; **52523** | &nbsp;&nbsp;&nbsp;&nbsp; **(3008172)** | &nbsp;&nbsp;&nbsp;&nbsp; **(3940540)** |

---

&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 ($) | Net change in unrealized appreciation (depreciation) on derivatives recognized in income ($) | Net change in unrealized appreciation (depreciation) on derivatives recognized in income ($) |
| **Underlying risk** | **Futures**<sup>(4)</sup>  | **Forward Contracts**<sup>(5)</sup>  | **Swap Agreements**<sup>(6)</sup>  | **Total** |
| Interest Rate | &nbsp;&nbsp;&nbsp;&nbsp; (5441782) | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (1380132) | &nbsp;&nbsp;&nbsp;&nbsp; **(6821914)** |
| Foreign Exchange | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (1948674) | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; **(1948674)** |
| Credit | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (1207990) | &nbsp;&nbsp;&nbsp;&nbsp; **(1207990)** |
| **Total** | &nbsp;&nbsp;&nbsp;&nbsp; **(5441782)** | &nbsp;&nbsp;&nbsp;&nbsp; **(1948674)** | &nbsp;&nbsp;&nbsp;&nbsp; **(2588122)** | &nbsp;&nbsp;&nbsp;&nbsp; **(9978578)** |

---

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

---

| | |
|:---|:---|
| Statement of Operations location: | Statement of Operations location: |
| <sup>(1)</sup>  | Net realized gain (loss) on futures. |
| <sup>(2)</sup>  | Net realized gain (loss) on forward foreign currency exchange contracts. |
| <sup>(3)</sup>  | Net realized gain (loss) on swap agreements. |
| <sup>(4)</sup>  | Net change in unrealized appreciation (depreciation) on futures. |
| <sup>(5)</sup>  | Net change in unrealized appreciation (depreciation) on forward foreign currency exchange contracts. |
| <sup>(6)</sup>  | Net change in unrealized appreciation (depreciation) on swap agreements. |

---

The provisions of ASC Topic 210 "Disclosures about Offsetting Assets and Liabilities" require disclosure on the offsetting of financial assets and liabilities. These disclosures are required for certain investments, including derivative financial instruments subject to Master Agreements which are eligible for offsetting in the Statement of Assets and Liabilities and require the fund to disclose both gross and net information with respect to such investments. For financial reporting purposes, the fund does not offset derivative assets and derivative liabilities that are subject to Master Agreements in the Statement of Assets and Liabilities.

At April 30, 2026, derivative assets and liabilities (by type) on a gross basis are as follows:

---

| | | |
|:---|:---|:---|
| **Derivative Financial Instruments:** | **Assets ($)** | **Liabilities ($)** |
| Futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5814816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7936817)<br>|
| Forward contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3790686)<br>|
| Swap agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 604678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3684388)<br>|

---

**41**

------

NOTES TO FINANCIAL STATEMENTS (continued)

---

| | | |
|:---|:---|:---|
| **Derivative Financial Instruments:** <br> (continued)<br>| **Assets ($)** | **Liabilities ($)** |
| Total gross amount of derivative assets <br> and liabilities 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; 6531642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15411891)<br>|
| Derivatives not subject to Master <br> Agreements<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6419494)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11621205 |
| Total gross amount of assets and <br> liabilities subject to Master <br> Agreements<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3790686)<br>|

---

The following tables present derivative assets and liabilities net of amounts available for offsetting under Master Agreements and net of related collateral received or pledged, if any, as of April 30, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp; **Gross Amount** <br>**of Assets ($)**<sup>(1)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Financial** <br>**Instruments** <br>**and Derivatives** <br>**Available** <br>**for Offset ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Collateral** <br>**Received ($)**<sup>(2)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net Amount** <br>**of Assets ($)**<br>|
| BNP Paribas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (79183)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30603)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| J.P. Morgan Securities LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2362)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| **Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **112148** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(32965)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(79183)**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **-** |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp; **Gross Amount** <br>**of Liabilities($)**<sup>(1)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Financial** <br>**Instruments** <br>**and Derivatives** <br>**Available** <br>**for Offset ($)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **Collateral** <br>**Pledged ($)**<sup>(2)</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; **Net Amount** <br>**of Liabilities ($)**<br>|
| Barclays Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; (2620302)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 1303000 | &nbsp;&nbsp;&nbsp;&nbsp; (1317302)<br>|
| Citigroup Global Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; (3715)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (3715)<br>|
| Goldman Sachs & Co. LLC | &nbsp;&nbsp;&nbsp;&nbsp; (583396)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 30603 | &nbsp;&nbsp;&nbsp;&nbsp; 251000 | &nbsp;&nbsp;&nbsp;&nbsp; (301793)<br>|
| J.P. Morgan Securities LLC | &nbsp;&nbsp;&nbsp;&nbsp; (13873)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2362 | &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; (11511)<br>|
| Morgan Stanley & Co. LLC | &nbsp;&nbsp;&nbsp;&nbsp; (569400)<br>| &nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp; 569400 | &nbsp;&nbsp;&nbsp;&nbsp; - |
| **Total** | &nbsp;&nbsp;&nbsp;&nbsp; **(3790686)**<br>| &nbsp;&nbsp;&nbsp;&nbsp; **32965** | &nbsp;&nbsp;&nbsp;&nbsp; **2123400** | &nbsp;&nbsp;&nbsp;&nbsp; **(1634321)**<br>|

---

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

<sup>(1)</sup> Absent a default event or early termination, OTC derivative assets and liabilities are presented at gross amounts and are not offset in the Statement of Assets and Liabilities. 

<sup>(2)</sup> In some instances, the actual collateral received and/or pledged may be more than the amount shown due to over collateralization.

The following table summarizes the monthly average market value of derivatives outstanding during the period ended April 30, 2026:

---

| | |
|:---|:---|
|  | Average Market Value ($) |
| **Futures:** |  |
| Interest Rate Futures Long | &nbsp;&nbsp; 667044449 |
| Interest Rate Futures Short | &nbsp;&nbsp; 200735441 |
| **Forward Contracts:** |  |
| Forward Contracts Purchased in USD | &nbsp;&nbsp; 27782911 |
| Forward Contracts Sold in USD | &nbsp;&nbsp; 135103318 |

---

**42**

------

NOTES TO FINANCIAL STATEMENTS (continued)

The following table summarizes the monthly average notional value of swap agreements outstanding during the period ended April 30, 2026:

---

| | |
|:---|:---|
|  | Average Notional Value ($) |
| **Swap Agreements:** |  |
| Credit Default Swaps Buy Protection | &nbsp;&nbsp; 82056249 |
| Credit Default Swaps Sell Protection | &nbsp;&nbsp; 4342440 |
| Interest Rate Swap Pays Fixed Rate | &nbsp;&nbsp; 20893702 |
| Interest Rate Swap Receives Fixed Rate | &nbsp;&nbsp; 25818905 |

---

At April 30, 2026, the cost of investments for federal income tax purposes was $2,686,839,702; accordingly, accumulated net unrealized depreciation on investments inclusive of derivative contracts was $25,629,224, consisting of $35,673,358 gross unrealized appreciation and $61,302,582 gross unrealized depreciation.

**43**

------

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and the Board of Directors of BNY Mellon Absolute Insight Funds, Inc.

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities of BNY Mellon Absolute Insight Funds, Inc. (the "Company") (comprised of the sole fund BNY Mellon Core Plus Fund (the "Fund")), including the schedule of investments, as of April 30, 2026, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund (the sole fund constituting BNY Mellon Absolute Insight Funds, Inc.) at April 30, 2026, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and its financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of the Company's internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of April 30, 2026, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion. ![](imgcca8e6db2.gif)

We have served as the auditor of one or more investment companies in the BNY Mellon Family of Funds since at least 1957, but we are unable to determine the specific year.

New York, New York

June 23, 2026

**44**

------

IMPORTANT TAX INFORMATION (Unaudited)

For federal tax purposes, the fund reports the maximum amount allowable but not less than 75.76% as interest-related dividends in accordance with Sections 871(k)(1) and 881(e) of the Internal Revenue Code. The fund also hereby reports $.0340 per share as a short-term capital gain distribution paid on December 2, 2025.

**45**

------

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

N/A

**46**

------

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

A special meeting of the fund's shareholders was held on November 20, 2025 for the election of additional Board members whose terms commenced on January 1, 2026. The results were as follows:

---

| | | |
|:---|:---|:---|
|  | Shares | Shares |
|  | For | Withheld |
| To elect seven Board Members to the Board of Directors of the Fund: | To elect seven Board Members to the Board of Directors of the Fund: | To elect seven Board Members to the Board of Directors of the Fund: |
| Francine J. Bovich | 172996631 | 1767267 |
| Andrew J. Donohue | 172929125 | 1834772 |
| Joan L. Gulley | 172864356 | 1899542 |
| Alan H. Howard | 173081949 | 1681948 |
| Bradley J. Skapyak | 173081682 | 1682215 |
| Roslyn M. Watson | 173005883 | 1758015 |
| Benaree Pratt Wiley | 172932240 | 1831657 |

---

**47**

------

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 Directors' fees and expenses and Chief Compliance Officer fees, respectively. The aggregate amount of Directors' fees and expenses and Chief Compliance Officer fees paid by the fund during the period was $327,595.

**48**

------

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

N/A

**49**

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

Code-6347NCSRAR0426

![](img5eb220761.gif)

------

**Item 12.** **Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable.

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

Not applicable.

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

Not applicable.

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

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

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

(a) The Registrant's principal executive and principal financial officers have concluded, based on their
evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that
the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the
Registrant on Form N-CSR is recorded, processed, summarized and reported within the required time periods and that information required
to be disclosed by the Registrant in the reports that it files or submits on Form N-CSR is accumulated and communicated to the Registrant's
management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required
disclosure.

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

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

Not applicable.

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

Not applicable.

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

(a)(1) [Code of ethics referred to in Item 2](ncsrcodeofethics-jan 2021.htm). (a)(2) Not applicable.

&nbsp;&nbsp; (a)(3) [Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940](ex302.htm).<br> (a)(4) Not applicable.<br> (a)(5) Not applicable.<br> (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](ex906.htm).<br>

**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 Absolute Insight Funds, Inc.

By: <u>/s/ David J. DiPetrillo</u>

David J. DiPetrillo

President (Principal Executive Officer)

Date: June 22, 2026

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

By: <u>/s/ David J. DiPetrillo</u>

David J. DiPetrillo

President (Principal Executive Officer)

Date: June 22, 2026

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

James Windels

Treasurer (Principal Financial Officer)

Date: June 22, 2026

**EXHIBIT INDEX**

(a)(1) Code of ethics referred to in Item 2.

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

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

## Ex-99.Code

**THE BNY MELLON FAMILY OF FUNDS**

**BNY MELLON FUNDS TRUST**

**Principal Executive Officer and Senior Financial Officer**

**Code of Ethics**

**I. Covered Officers/Purpose of the Code**

This code of ethics (the "Code"), adopted by the funds in the BNY Mellon Family of Funds and BNY Mellon Funds Trust (each, a "Fund"), applies to each Fund's Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer or Controller, or other persons performing similar functions, each of whom is listed on Exhibit A (the "Covered Officers"), for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· full, fair, accurate, timely and understandable disclosure in reports and documents that the Fund files with, or submits to, the Securities and Exchange Commission (the "SEC") and in other public communications made by the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· compliance with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· accountability for adherence to the Code.

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

**II. Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest**

**Overview.** A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his service to, the Fund. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of his position with the Fund.

Certain conflicts of interest arise out of the relationships between Covered Officers and the Fund and already are subject to conflict of interest provisions in the Investment Company Act of 1940, as amended (the "Investment Company Act"), and the Investment Advisers Act of 1940, as amended (the "Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Fund because of their status as "affiliated persons" of the Fund. The compliance programs and procedures of the Fund and the Fund's investment adviser (the "Adviser") are designed to prevent, or identify and correct, violations of these provisions. The Code does not, and is not intended to, repeat or replace these programs and procedures, and the circumstances they cover fall outside of the parameters of the Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the Fund and the Adviser of which the Covered Officers are also officers or employees. As a result, the Code recognizes that the Covered Officers, in the ordinary course of their duties (whether formally for the Fund or for the Adviser, or for both), will be involved in establishing policies and implementing decisions that will have different effects on the Adviser and the Fund. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Fund and the Adviser and is consistent with the performance by the Covered Officers of their duties as officers of the Fund and, if addressed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, will be deemed to have been handled ethically. In addition, it is recognized by the Fund's Board that the Covered Officers also may be officers or employees of one or more other investment companies covered by this or other codes of ethics.

------

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. Covered Officers should keep in mind that the Code cannot enumerate every possible scenario. The overarching principle of the Code is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Fund.

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not use his personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Fund whereby the Covered Officer would benefit personally to the detriment of the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not cause the Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit of the Fund; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not retaliate against any employee or Covered Officer for reports of potential violations that are made in good faith.

**III. Disclosure and Compliance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Each Covered Officer should familiarize himself with the disclosure requirements generally applicable to the Fund within his area of responsibility;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about the Fund to others, whether within or outside the Fund, including to the Fund's Board members and auditors, and to governmental regulators and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· each Covered Officer should, to the extent appropriate within his area of responsibility, consult with other officers and employees of the Fund and the Adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Fund files with, or submits to, the SEC and in other public communications made by the Fund; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· it is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

**IV. Reporting and Accountability**

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· upon adoption of the Code (or thereafter, as applicable, upon becoming a Covered Officer), affirm in writing to the Board that he has received, read, and understands the Code;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· annually thereafter affirm to the Board that he has complied with the requirements of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· notify the Adviser's General Counsel (the "General Counsel") promptly if he knows of any violation of the Code. Failure to do so is itself a violation of the Code.

The General Counsel is responsible for applying the Code to specific situations in which questions are presented under it and has the authority to interpret the Code in any particular situation. However, waivers sought by any Covered Officer will be considered by the Fund's Board.

The Fund will follow these procedures in investigating and enforcing the Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the General Counsel will take all appropriate action to investigate any potential violations reported to him;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· if, after such investigation, the General Counsel believes that no violation has occurred, the General Counsel is not required to take any further action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any matter that the General Counsel believes is a violation will be reported to the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· if the Board concurs that a violation has occurred, it will consider appropriate action, which may include: review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the Adviser or its board; or dismissal of the Covered Officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the Board will be responsible for granting waivers, as appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· any waivers of or amendments to the Code, to the extent required, will be disclosed as provided by SEC rules.

**V. Other Policies and Procedures**

The Code shall be the sole code of ethics adopted by the Fund for purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered investment companies thereunder. The Fund's, its principal underwriter's and the Adviser's codes of ethics under Rule 17j-1 under the Investment Company Act and the Adviser's additional policies and procedures, including its Code of Conduct, are separate requirements applying to the Covered Officers and others, and are not part of the Code.

**VI. Amendments**

Except as to Exhibit A, the Code may not be amended except in written form, which is specifically approved or ratified by a majority vote of the Fund's Board, including a majority of independent Board members.

**VII. Confidentiality**

All reports and records prepared or maintained pursuant to the Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or the Code, such matters shall not be disclosed to anyone other than the appropriate Funds and their counsel, the appropriate Boards (or Committees) and their counsel and the Adviser.

------

**VIII. Internal Use**

The Code is intended solely for the internal use by the Fund and does not constitute an admission, by or on behalf of the Fund, as to any fact, circumstance, or legal conclusion.

Dated as of: January 14, 2021

------

**Exhibit A**

**Persons Covered by the Code of Ethics**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; David J. DiPetrillo | &nbsp;&nbsp; President | &nbsp;&nbsp; (Principal Executive Officer, BNY Mellon Family of Funds) |
| &nbsp;&nbsp; Lisa M. Sampson | &nbsp;&nbsp; President | &nbsp;&nbsp; (Principal Executive Officer, BNY Mellon Funds Trust) |
| &nbsp;&nbsp; James M. Windels | &nbsp;&nbsp; Treasurer | &nbsp;&nbsp; (Principal Financial and Accounting Officer) |

---

## Ex-99.Cert

[EX-99.CERT]—Exhibit (a)(3)

**SECTION 302 CERTIFICATION**

I, David J. DiPetrillo, certify that:

1. I have reviewed this report on Form N-CSR of BNY Mellon Absolute Insight Funds, Inc.;

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/ David J. DiPetrillo</u>

David J. DiPetrillo

President (Principal Executive Officer)

Date: June 22, 2026

**SECTION 302 CERTIFICATION**

I, James Windels, certify that:

1. I have reviewed this report on Form N-CSR of BNY Mellon Absolute Insight Funds, Inc.;

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: June 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/ David J. DiPetrillo</u>

David J. DiPetrillo

President (Principal Executive Officer)<br>

Date: June 22, 2026

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

James Windels

Treasurer (Principal Financial Officer)

Date: June 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.*