01/28/2026 | Press release | Distributed by Public on 01/28/2026 16:07
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class A | $125 | 1.23% |
| Class A Shares | 1YR | 5YR | 10YR | |||
| with Maximum Sales Charge - 5.75% | -3.10% | 5.63% | 9.30% | |||
| without Sales Charge | 2.83% | 6.89% | 9.95% | |||
| MSCI World Index | 16.99% | 12.90% | 11.88% |
|
Fund Size (Millions) |
Number of Holdings |
Total Advisory Fee Paid During Period |
Annual Portfolio Turnover |
| $741 | 47 | $6,952,831 | 10.03% |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class C | $211 | 2.09% |
| Class C Shares | 1YR | 5YR | 10YR | |||
| with Maximum Deferred Sales Charge - 1.00% | 1.04% |
*
|
6.01% | 9.09% | ||
| without Deferred Sales Charge | 1.94% | 6.01% | 9.09% | |||
| MSCI World Index | 16.99% | 12.90% | 11.88% |
|
*
|
The maximum contingent deferred sales charge for Class C shares is 1.00% for shares redeemed within one year of the date purchased.
|
|
Fund Size (Millions) |
Number of Holdings |
Total Advisory Fee Paid During Period |
Annual Portfolio Turnover |
| $741 | 47 | $6,952,831 | 10.03% |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class I | $93 | 0.92% |
| Share Class | 1YR | 5YR | 10YR | |||
| Class I | 3.15% | 7.22% | 10.27% | |||
| MSCI World Index | 16.99% | 12.90% | 11.88% |
|
Fund Size (Millions) |
Number of Holdings |
Total Advisory Fee Paid During Period |
Annual Portfolio Turnover |
| $741 | 47 | $6,952,831 | 10.03% |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class Y | $91 | 0.90% |
| Share Class | 1YR | 5YR | 10YR | |||
| Class Y | 3.18% | 7.23% | 10.31% | |||
| MSCI World Index | 16.99% | 12.90% | 11.88% |
|
Fund Size (Millions) |
Number of Holdings |
Total Advisory Fee Paid During Period |
Annual Portfolio Turnover |
| $741 | 47 | $6,952,831 | 10.03% |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class A | $124 | 1.23% |
| Class A Shares | 1YR | 5YR | 10YR | |||
| with Maximum Sales Charge - 5.75% | -4.20% | 0.56% | 6.02% | |||
| without Sales Charge | 1.66% | 1.75% | 6.65% | |||
| MSCI EAFE® Index | 24.50% | 9.27% | 7.72% |
|
Fund Size (Millions) |
Number of Holdings |
Total Advisory Fee Paid During Period |
Annual Portfolio Turnover |
| $4,531 | 47 | $45,057,635 | 8.62% |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class C | $200 | 1.99% |
| Class C Shares | 1YR | 5YR | 10YR | |||
| with Maximum Deferred Sales Charge - 1.00% | -0.05% |
*
|
1.03% | 5.87% | ||
| without Deferred Sales Charge | 0.93% | 1.03% | 5.87% | |||
| MSCI EAFE® Index | 24.50% | 9.27% | 7.72% |
|
*
|
The maximum contingent deferred sales charge for Class C shares is 1.00% for shares redeemed within one year of the date purchased.
|
|
Fund Size (Millions) |
Number of Holdings |
Total Advisory Fee Paid During Period |
Annual Portfolio Turnover |
| $4,531 | 47 | $45,057,635 | 8.62% |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class I | $94 | 0.93% |
| Share Class | 1YR | 5YR | 10YR | |||
| Class I | 2.01% | 2.10% | 7.00% | |||
| MSCI EAFE® Index | 24.50% | 9.27% | 7.72% |
|
Fund Size (Millions) |
Number of Holdings |
Total Advisory Fee Paid During Period |
Annual Portfolio Turnover |
| $4,531 | 47 | $45,057,635 | 8.62% |
| Share Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class Y | $89 | 0.88% |
| Share Class | 1YR | 5YR | 10YR | |||
| Class Y | 2.04% | 2.13% | 7.04% | |||
| MSCI EAFE® Index | 24.50% | 9.27% | 7.72% |
|
Fund Size (Millions) |
Number of Holdings |
Total Advisory Fee Paid During Period |
Annual Portfolio Turnover |
| $4,531 | 47 | $45,057,635 | 8.62% |
| 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. |
(a) Audit Fees. 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 $100,814 in 2024 and $102,830 in 2025.
(b) Audit-Related Fees. 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 $21,892 in 2024 and $20,232 in 2025. 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 2024 and $0 in 2025.
(c) Tax Fees. 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 $9,526 in 2024 and $9,526 in 2025. 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 $14,878 in 2024 and $15,610 in 2025.
(d) All Other Fees. 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 $960 in
2024and $1,065in 2025. 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 2024 and $0 in 2025.
(e)(1) Audit Committee Pre-Approval Policies and Procedures. 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) Note. 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.
(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.
Non-Audit Fees. 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 $1,486,377 in 2024 and $1,834,935 in 2025.
Auditor Independence. The Registrant's Audit Committee has considered whether the provision of non-audit services that were rendered to Service Affiliates, which were not pre-approved (not requiring pre-approval), is compatible with maintaining the Auditor's independence.
| (i) | Not applicable. |
| (j) | Not applicable. |
| Item 5. | Audit Committee of Listed Registrants. |
Not applicable.
| Item 6. | Investments. |
Not applicable.
|
Class
|
Ticker
|
|
A
|
DGLAX
|
|
C
|
DGLCX
|
|
I
|
DGLRX
|
|
Y
|
DGLYX
|
|
Item 7. Financial Statements and Financial Highlights for Open-End Management
Investment Companies
|
3
|
|
Schedule of Investments
|
3
|
|
Statement of Assets and Liabilities
|
5
|
|
Statement of Operations
|
6
|
|
Statement of Changes in Net Assets
|
7
|
|
Financial Highlights
|
9
|
|
Notes to Financial Statements
|
13
|
|
Report of Independent Registered Public Accounting Firm
|
19
|
|
Important Tax Information
|
20
|
|
Item 8. Changes in and Disagreements with Accountants for Open-End Management
Investment Companies
|
21
|
|
Item 9. Proxy Disclosures for Open-End Management Investment Companies
|
22
|
|
Item 10. Remuneration Paid to Directors, Officers, and Other of Open-End
Management Investment Companies
|
23
|
|
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts
|
24
|
|
Description
|
|
|
|
Shares
|
Value ($)
|
|
Common Stocks - 98.8%
|
|||||
|
Australia - 1.0%
|
|||||
|
CSL Ltd.
|
62,600
|
7,636,085
|
|||
|
Canada - 2.1%
|
|||||
|
Alimentation Couche-Tard, Inc.
|
283,500
|
15,485,030
|
|||
|
Denmark - 1.6%
|
|||||
|
Novo Nordisk AS, Cl. B
|
242,000
|
11,924,535
|
|||
|
France - 4.0%
|
|||||
|
L'Oreal SA
|
32,100
|
13,992,860
|
|||
|
LVMH Moet Hennessy Louis Vuitton SE
|
21,400
|
15,881,217
|
|||
|
|
29,874,077
|
||||
|
Hong Kong - 4.6%
|
|||||
|
AIA Group Ltd.
|
3,293,800
|
34,321,910
|
|||
|
Ireland - 1.9%
|
|||||
|
Experian PLC
|
317,300
|
13,959,640
|
|||
|
Italy - .9%
|
|||||
|
Ferrari NV
|
16,200
|
6,364,223
|
|||
|
Japan - 3.4%
|
|||||
|
Keyence Corp.
|
40,028
|
13,612,246
|
|||
|
Shin-Etsu Chemical Co. Ltd.
|
383,600
|
11,569,405
|
|||
|
|
25,181,651
|
||||
|
Netherlands - 4.3%
|
|||||
|
ASML Holding NV
|
23,530
|
24,970,675
|
|||
|
Universal Music Group NV
|
260,700
|
6,679,880
|
|||
|
|
31,650,555
|
||||
|
Spain - 2.2%
|
|||||
|
Industria de Diseno Textil SA
|
296,300
|
16,614,263
|
|||
|
Switzerland - 3.0%
|
|||||
|
Lonza Group AG
|
15,100
|
10,370,764
|
|||
|
Roche Holding AG
|
30,900
|
11,824,631
|
|||
|
|
22,195,395
|
||||
|
Taiwan - 4.4%
|
|||||
|
Taiwan Semiconductor Manufacturing Co. Ltd., ADR
|
111,390
|
32,471,299
|
|||
|
United Kingdom - 2.1%
|
|||||
|
Compass Group PLC
|
498,800
|
15,669,031
|
|||
|
United States - 63.3%
|
|||||
|
Adobe, Inc.(a)
|
57,300
|
18,343,449
|
|||
|
Amazon.com, Inc.(a)
|
105,530
|
24,611,707
|
|||
|
Amphenol Corp., Cl. A
|
191,650
|
27,003,485
|
|||
|
Automatic Data Processing, Inc.
|
55,200
|
14,092,560
|
|||
|
Booking Holdings, Inc.
|
3,460
|
17,004,828
|
|||
|
Cognizant Technology Solutions Corp., Cl. A
|
107,408
|
8,346,676
|
|||
|
Copart, Inc.(a)
|
251,500
|
9,803,470
|
|||
|
Costco Wholesale Corp.
|
12,130
|
11,081,847
|
|||
|
Edwards Lifesciences Corp.(a)
|
253,000
|
21,927,510
|
|||
|
Fastenal Co.
|
383,700
|
15,501,480
|
|||
|
Ferguson Enterprises, Inc.
|
68,000
|
17,113,560
|
|||
|
Fortinet, Inc.(a)
|
181,700
|
14,741,321
|
|||
|
IDEXX Laboratories, Inc.(a)
|
15,740
|
11,850,331
|
|||
|
Intuitive Surgical, Inc.(a)
|
28,200
|
16,172,136
|
|||
|
Description
|
|
|
|
Shares
|
Value ($)
|
|
Common Stocks - 98.8% (continued)
|
|||||
|
United States - 63.3% (continued)
|
|||||
|
Linde PLC
|
43,500
|
17,848,920
|
|||
|
Mastercard, Inc., Cl. A
|
48,900
|
26,920,917
|
|||
|
Mettler-Toledo International, Inc.(a)
|
13,810
|
20,393,503
|
|||
|
Microsoft Corp.
|
64,700
|
31,833,047
|
|||
|
Moody's Corp.
|
32,280
|
15,842,378
|
|||
|
NIKE, Inc., Cl. B
|
161,500
|
10,437,745
|
|||
|
Old Dominion Freight Line, Inc.
|
75,780
|
10,252,276
|
|||
|
O'Reilly Automotive, Inc.(a)
|
161,400
|
16,414,380
|
|||
|
Paychex, Inc.
|
53,400
|
5,964,246
|
|||
|
ResMed, Inc.
|
76,500
|
19,570,995
|
|||
|
Stryker Corp.
|
42,000
|
15,589,560
|
|||
|
Texas Instruments, Inc.
|
72,700
|
12,233,229
|
|||
|
The TJX Companies, Inc.
|
106,100
|
16,118,712
|
|||
|
Visa, Inc., Cl. A(b)
|
33,600
|
11,237,184
|
|||
|
West Pharmaceutical Services, Inc.
|
39,800
|
11,034,550
|
|||
|
|
469,286,002
|
||||
|
Total Common Stocks
(cost $319,513,809)
|
732,633,696
|
||||
|
|
|
1-Day
Yield (%)
|
|
|
|
|
Investment Companies - 1.1%
|
|||||
|
Registered Investment Companies - 1.1%
|
|||||
|
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional
Shares(c)
(cost $8,207,903)
|
4.15
|
8,207,903
|
8,207,903
|
||
|
Total Investments(cost $327,721,712)
|
99.9
%
|
740,841,599
|
|||
|
Cash and Receivables (Net)
|
.1
%
|
505,451
|
|||
|
Net Assets
|
100.0
%
|
741,347,050
|
|
ADR-American Depositary Receipt
|
|
(a)
|
Non-income producing security.
|
|
(b)
|
Security, or portion thereof, on loan. At November 30, 2025, the value of the fund's securities on loan was $3,932,680 and the value of the collateral was
$4,004,620, consisting of U.S. Government & Agency securities. In addition, the value of collateral may include pending sales that are also on loan.
|
|
(c)
|
Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's
prospectus.
|
|
Affiliated Issuers
|
|||||
|
Description
|
Value ($)
11/30/2024
|
Purchases ($)†
|
Sales ($)
|
Value ($)
11/30/2025
|
Dividends/
Distributions ($)
|
|
Registered Investment Companies - 1.1%
|
|||||
|
Dreyfus Institutional Preferred Government Plus Money
Market Fund, Institutional Shares - 1.1%
|
9,360,003
|
186,428,401
|
(187,580,501)
|
8,207,903
|
440,686
|
|
†
|
Includes reinvested dividends/distributions.
|
|
|
Cost
|
Value
|
|
Assets ($):
|
||
|
Investments in securities-See Schedule of Investments
(including securities on loan, valued at $3,932,680)-Note 1(c):
|
||
|
Unaffiliated issuers
|
319,513,809
|
732,633,696
|
|
Affiliated issuers
|
8,207,903
|
8,207,903
|
|
Cash denominated in foreign currency
|
63,445
|
63,425
|
|
Tax reclaim receivable-Note 1(b)
|
997,345
|
|
|
Dividends and securities lending income receivable
|
322,902
|
|
|
Receivable for shares of Common Stock subscribed
|
13,085
|
|
|
Prepaid expenses
|
44,465
|
|
|
|
742,282,821
|
|
|
Liabilities ($):
|
||
|
Due to BNY Mellon Investment Adviser, Inc. and affiliates-Note 3(c)
|
546,353
|
|
|
Payable for shares of Common Stock redeemed
|
264,676
|
|
|
Directors' fees and expenses payable
|
12,000
|
|
|
Other accrued expenses
|
112,742
|
|
|
|
935,771
|
|
|
Net Assets ($)
|
741,347,050
|
|
|
Composition of Net Assets ($):
|
||
|
Paid-in capital
|
155,457,774
|
|
|
Total distributable earnings (loss)
|
585,889,276
|
|
|
Net Assets ($)
|
741,347,050
|
|
Net Asset Value Per Share
|
Class A
|
Class C
|
Class I
|
Class Y
|
|
Net Assets ($)
|
27,882,826
|
904,394
|
495,612,372
|
216,947,458
|
|
Shares Outstanding
|
1,309,631
|
47,526
|
22,623,038
|
9,933,334
|
|
Net Asset Value Per Share ($)
|
21.29
|
19.03
|
21.91
|
21.84
|
|
|
|
|
Investment Income ($):
|
|
|
Income:
|
|
|
Cash dividends (net of $597,124 foreign taxes withheld at source):
|
|
|
Unaffiliated issuers
|
9,463,911
|
|
Affiliated issuers
|
440,686
|
|
Affiliated income net of rebates from securities lending-Note 1(c)
|
13,400
|
|
Interest
|
4,578
|
|
Total Income
|
9,922,575
|
|
Expenses:
|
|
|
Management fee-Note 3(a)
|
6,952,831
|
|
Shareholder servicing costs-Note 3(c)
|
183,499
|
|
Professional fees
|
116,632
|
|
Directors' fees and expenses-Note 3(d)
|
84,665
|
|
Registration fees
|
72,064
|
|
Prospectus and shareholders' reports
|
26,465
|
|
Chief Compliance Officer fees-Note 3(c)
|
24,725
|
|
Custodian fees-Note 3(c)
|
24,547
|
|
Interest expense-Note 2
|
18,845
|
|
Loan commitment fees-Note 2
|
18,632
|
|
Shareholder and regulatory reports service fees-Note 3(c)
|
15,500
|
|
Distribution Plan fees-Note 3(b)
|
9,107
|
|
Miscellaneous
|
31,525
|
|
Total Expenses
|
7,579,037
|
|
Less-reduction in fees due to earnings credits-Note 3(c)
|
(898
)
|
|
Net Expenses
|
7,578,139
|
|
Net Investment Income
|
2,344,436
|
|
Realized and Unrealized Gain (Loss) on Investments-Note 4 ($):
|
|
|
Net realized gain (loss) on investments and foreign currency transactions
|
195,636,666
|
|
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions
|
(182,759,761
)
|
|
Net Realized and Unrealized Gain (Loss) on Investments
|
12,876,905
|
|
Net Increase in Net Assets Resulting from Operations
|
15,221,341
|
|
|
Year Ended November 30,
|
|
|
|
2025
|
2024
|
|
Operations ($):
|
||
|
Net investment income
|
2,344,436
|
3,966,678
|
|
Net realized gain (loss) on investments
|
195,636,666
|
103,746,369
|
|
Net change in unrealized appreciation (depreciation) on investments
|
(182,759,761)
|
65,686,919
|
|
Net Increase (Decrease) in Net Assets Resulting from Operations
|
15,221,341
|
173,399,966
|
|
Distributions ($):
|
||
|
Distributions to shareholders:
|
||
|
Class A
|
(3,295,229)
|
(5,373,356)
|
|
Class C
|
(225,234)
|
(373,516)
|
|
Class I
|
(57,784,531)
|
(84,361,925)
|
|
Class Y
|
(35,280,229)
|
(56,920,723)
|
|
Total Distributions
|
(96,585,223)
|
(147,029,520)
|
|
Capital Stock Transactions ($):
|
||
|
Net proceeds from shares sold:
|
||
|
Class A
|
2,647,909
|
2,082,750
|
|
Class C
|
39,565
|
526,366
|
|
Class I
|
22,185,105
|
89,232,553
|
|
Class Y
|
8,426,101
|
19,686,554
|
|
Distributions reinvested:
|
||
|
Class A
|
3,020,137
|
4,955,938
|
|
Class C
|
223,270
|
370,041
|
|
Class I
|
55,848,448
|
80,929,189
|
|
Class Y
|
28,476,347
|
44,102,042
|
|
Cost of shares redeemed:
|
||
|
Class A
|
(8,987,216)
|
(8,554,875)
|
|
Class C
|
(1,466,224)
|
(780,266)
|
|
Class I
|
(112,959,668)
|
(146,815,971)
|
|
Class Y
|
(140,889,776)
|
(78,073,096)
|
|
Increase (Decrease) in Net Assets from Capital Stock Transactions
|
(143,436,002)
|
7,661,225
|
|
Total Increase (Decrease) in Net Assets
|
(224,799,884)
|
34,031,671
|
|
Net Assets ($):
|
||
|
Beginning of Period
|
966,146,934
|
932,115,263
|
|
End of Period
|
741,347,050
|
966,146,934
|
|
|
Year Ended November 30,
|
|
|
|
2025
|
2024
|
|
Capital Share Transactions (Shares):
|
||
|
Class A
|
||
|
Shares sold
|
128,134
|
96,837
|
|
Shares issued for distributions reinvested
|
145,921
|
248,101
|
|
Shares redeemed
|
(434,699)
|
(395,696)
|
|
Net Increase (Decrease) in Shares Outstanding
|
(160,644)
|
(50,758)
|
|
Class C
|
||
|
Shares sold
|
2,155
|
27,749
|
|
Shares issued for distributions reinvested
|
11,849
|
20,181
|
|
Shares redeemed
|
(78,357)
|
(39,965)
|
|
Net Increase (Decrease) in Shares Outstanding
|
(64,353)
|
7,965
|
|
Class I(a)
|
||
|
Shares sold
|
1,041,398
|
4,133,467
|
|
Shares issued for distributions reinvested
|
2,631,742
|
3,958,220
|
|
Shares redeemed
|
(5,371,215)
|
(6,584,493)
|
|
Net Increase (Decrease) in Shares Outstanding
|
(1,698,075)
|
1,507,194
|
|
Class Y(a)
|
||
|
Shares sold
|
402,726
|
901,498
|
|
Shares issued for distributions reinvested
|
1,345,031
|
2,163,380
|
|
Shares redeemed
|
(6,875,251)
|
(3,521,537)
|
|
Net Increase (Decrease) in Shares Outstanding
|
(5,127,494)
|
(456,659)
|
|
(a)
|
During the period ended November 30, 2025, 131,109 Class Y shares representing $2,821,744 were exchanged for 130,702 Class I shares and during the period
ended November 30, 2024, 242,177 Class Y shares representing $5,395,522 were exchanged for 241,477 Class I shares.
|
|
|
Year Ended November 30,
|
||||
|
Class A Shares
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Per Share Data ($):
|
|
|
|
|
|
|
Net asset value, beginning of period
|
23.03
|
22.86
|
22.86
|
28.41
|
25.74
|
|
Investment Operations:
|
|||||
|
Net investment income (loss)(a)
|
(.00
)(b)
|
.02
|
.01
|
.02
|
.01
|
|
Net realized and unrealized gain (loss) on investments
|
.54
|
3.76
|
2.24
|
(3.04
)
|
4.09
|
|
Total from Investment Operations
|
.54
|
3.78
|
2.25
|
(3.02
)
|
4.10
|
|
Distributions:
|
|||||
|
Dividends from net investment income
|
(.02
)
|
(.02
)
|
(.03
)
|
(.00
)(b)
|
(.08
)
|
|
Dividends from net realized gain on investments
|
(2.26
)
|
(3.59
)
|
(2.22
)
|
(2.53
)
|
(1.35
)
|
|
Total Distributions
|
(2.28
)
|
(3.61
)
|
(2.25
)
|
(2.53
)
|
(1.43
)
|
|
Net asset value, end of period
|
21.29
|
23.03
|
22.86
|
22.86
|
28.41
|
|
Total Return (%)(c)
|
2.83
|
18.98
|
10.82
|
(11.84
)
|
16.72
|
|
Ratios/Supplemental Data (%):
|
|
|
|
|
|
|
Ratio of total expenses to average net assets
|
1.23
|
1.22
|
1.22
|
1.22
|
1.20
|
|
Ratio of net expenses to average net assets
|
1.23
(d)
|
1.22
(d)
|
1.22
(d)
|
1.22
(d)
|
1.20
|
|
Ratio of net investment income (loss) to average net assets
|
(.01
)(d)
|
.11
(d)
|
.07
(d)
|
.09
(d)
|
.03
|
|
Portfolio Turnover Rate
|
10.03
|
10.58
|
10.12
|
1.10
|
9.79
|
|
Net Assets, end of period ($ x 1,000)
|
27,883
|
33,862
|
34,765
|
34,704
|
45,402
|
|
(a)
|
Based on average shares outstanding.
|
|
(b)
|
Amount represents less than $.01 per share.
|
|
(c)
|
Exclusive of sales charge.
|
|
(d)
|
Amount inclusive of reduction in fees due to earnings credits.
|
|
|
Year Ended November 30,
|
||||
|
Class C Shares
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Per Share Data ($):
|
|
|
|
|
|
|
Net asset value, beginning of period
|
20.97
|
21.24
|
21.53
|
27.11
|
24.73
|
|
Investment Operations:
|
|||||
|
Net investment (loss)(a)
|
(.16
)
|
(.14
)
|
(.16
)
|
(.15
)
|
(.19
)
|
|
Net realized and unrealized gain (loss) on investments
|
.48
|
3.46
|
2.09
|
(2.90
)
|
3.92
|
|
Total from Investment Operations
|
.32
|
3.32
|
1.93
|
(3.05
)
|
3.73
|
|
Distributions:
|
|||||
|
Dividends from net realized gain on investments
|
(2.26
)
|
(3.59
)
|
(2.22
)
|
(2.53
)
|
(1.35
)
|
|
Net asset value, end of period
|
19.03
|
20.97
|
21.24
|
21.53
|
27.11
|
|
Total Return (%)(b)
|
1.94
|
18.01
|
9.94
|
(12.59
)
|
15.83
|
|
Ratios/Supplemental Data (%):
|
|
|
|
|
|
|
Ratio of total expenses to average net assets
|
2.09
|
2.01
|
2.06
|
2.01
|
1.97
|
|
Ratio of net expenses to average net assets
|
2.09
(c)
|
2.01
(c)
|
2.06
(c)
|
2.01
(c)
|
1.97
|
|
Ratio of net investment (loss) to average net assets
|
(.88
)(c)
|
(.69
)(c)
|
(.77
)(c)
|
(.69
)(c)
|
(.77
)
|
|
Portfolio Turnover Rate
|
10.03
|
10.58
|
10.12
|
1.10
|
9.79
|
|
Net Assets, end of period ($ x 1,000)
|
904
|
2,347
|
2,208
|
2,281
|
4,401
|
|
(a)
|
Based on average shares outstanding.
|
|
(b)
|
Exclusive of sales charge.
|
|
(c)
|
Amount inclusive of reduction in fees due to earnings credits.
|
|
|
Year Ended November 30,
|
||||
|
Class I Shares
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Per Share Data ($):
|
|
|
|
|
|
|
Net asset value, beginning of period
|
23.64
|
23.37
|
23.34
|
28.95
|
26.19
|
|
Investment Operations:
|
|||||
|
Net investment income(a)
|
.06
|
.09
|
.09
|
.10
|
.09
|
|
Net realized and unrealized gain (loss) on investments
|
.57
|
3.87
|
2.27
|
(3.10
)
|
4.16
|
|
Total from Investment Operations
|
.63
|
3.96
|
2.36
|
(3.00
)
|
4.25
|
|
Distributions:
|
|||||
|
Dividends from net investment income
|
(.10
)
|
(.10
)
|
(.11
)
|
(.08
)
|
(.14
)
|
|
Dividends from net realized gain on investments
|
(2.26
)
|
(3.59
)
|
(2.22
)
|
(2.53
)
|
(1.35
)
|
|
Total Distributions
|
(2.36
)
|
(3.69
)
|
(2.33
)
|
(2.61
)
|
(1.49
)
|
|
Net asset value, end of period
|
21.91
|
23.64
|
23.37
|
23.34
|
28.95
|
|
Total Return (%)
|
3.15
|
19.35
|
11.19
|
(11.59
)
|
17.07
|
|
Ratios/Supplemental Data (%):
|
|
|
|
|
|
|
Ratio of total expenses to average net assets
|
.92
|
.91
|
.91
|
.89
|
.93
|
|
Ratio of net expenses to average net assets
|
.92
(b)
|
.91
(b)
|
.91
(b)
|
.89
(b)
|
.93
|
|
Ratio of net investment income to average net assets
|
.29
(b)
|
.41
(b)
|
.39
(b)
|
.42
(b)
|
.31
|
|
Portfolio Turnover Rate
|
10.03
|
10.58
|
10.12
|
1.10
|
9.79
|
|
Net Assets, end of period ($ x 1,000)
|
495,612
|
574,912
|
533,266
|
616,996
|
862,835
|
|
(a)
|
Based on average shares outstanding.
|
|
(b)
|
Amount inclusive of reduction in fees due to earnings credits.
|
|
|
Year Ended November 30,
|
||||
|
Class Y Shares
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Per Share Data ($):
|
|
|
|
|
|
|
Net asset value, beginning of period
|
23.57
|
23.32
|
23.29
|
28.91
|
26.16
|
|
Investment Operations:
|
|||||
|
Net investment income(a)
|
.07
|
.09
|
.09
|
.10
|
.08
|
|
Net realized and unrealized gain (loss) on investments
|
.56
|
3.85
|
2.27
|
(3.10
)
|
4.17
|
|
Total from Investment Operations
|
.63
|
3.94
|
2.36
|
(3.00
)
|
4.25
|
|
Distributions:
|
|||||
|
Dividends from net investment income
|
(.10
)
|
(.10
)
|
(.11
)
|
(.09
)
|
(.15
)
|
|
Dividends from net realized gain on investments
|
(2.26
)
|
(3.59
)
|
(2.22
)
|
(2.53
)
|
(1.35
)
|
|
Total Distributions
|
(2.36
)
|
(3.69
)
|
(2.33
)
|
(2.62
)
|
(1.50
)
|
|
Net asset value, end of period
|
21.84
|
23.57
|
23.32
|
23.29
|
28.91
|
|
Total Return (%)
|
3.18
|
19.38
|
11.17
|
(11.58
)
|
17.11
|
|
Ratios/Supplemental Data (%):
|
|
|
|
|
|
|
Ratio of total expenses to average net assets
|
.90
|
.89
|
.90
|
.89
|
.89
|
|
Ratio of net expenses to average net assets
|
.90
(b)
|
.89
(b)
|
.90
(b)
|
.89
(b)
|
.89
|
|
Ratio of net investment income to average net assets
|
.31
(b)
|
.43
(b)
|
.40
(b)
|
.43
(b)
|
.29
|
|
Portfolio Turnover Rate
|
10.03
|
10.58
|
10.12
|
1.10
|
9.79
|
|
Net Assets, end of period ($ x 1,000)
|
216,947
|
355,026
|
361,877
|
405,812
|
562,727
|
|
(a)
|
Based on average shares outstanding.
|
|
(b)
|
Amount inclusive of reduction in fees due to earnings credits.
|
|
|
Level 1 -
Unadjusted
Quoted Prices
|
Level 2- Other
Significant
Observable Inputs
|
Level 3-
Significant
Unobservable
Inputs
|
Total
|
|
Assets ($)
|
||||
|
Investments in Securities:†
|
||||
|
Equity Securities - Common Stocks
|
517,242,331
|
215,391,365††
|
-
|
732,633,696
|
|
Investment Companies
|
8,207,903
|
-
|
-
|
8,207,903
|
|
|
525,450,234
|
215,391,365
|
-
|
740,841,599
|
|
†
|
See Schedule of Investments for additional detailed categorizations, if any.
|
|
††
|
Securities classified within Level 2 at period end as the values were determined pursuant to the fund's fair valuation procedures.
|
|
Assets ($)
|
|
|
Gross amount of securities loaned, at
value, as disclosed in the Statement
of Assets and Liabilities
|
3,932,680
|
|
Collateral (received)/posted not offset
in the Statement of
Assets and Liabilities
|
(3,932,680
)†
|
|
Net amount
|
-
|
|
†
|
The value of the related collateral received by the fund exceeded the value of the securities loaned by the fund pursuant to the securities lending agreement. In addition,
the value of collateral may include pending sales that are also on loan. See Schedule of Investments for detailed information regarding collateral received for open
securities lending.
|
|
|
Shares
|
|
|
|
For
|
Withheld
|
|
To elect seven Board Members to the Board of Directors of the Fund:
|
||
|
Francine J. Bovich
|
151,949,968
|
474,965
|
|
Andrew J. Donohue
|
151,968,978
|
455,955
|
|
Joan L. Gulley
|
151,897,975
|
526,958
|
|
Alan H. Howard
|
151,936,553
|
488,380
|
|
Bradley J. Skapyak
|
151,975,244
|
449,689
|
|
Roslyn M. Watson
|
151,945,872
|
479,061
|
|
Benaree Pratt Wiley
|
151,893,486
|
531,447
|
|
Class
|
Ticker
|
|
A
|
DISAX
|
|
C
|
DISCX
|
|
I
|
DISRX
|
|
Y
|
DISYX
|
|
Item 7. Financial Statements and Financial Highlights for Open-End Management
Investment Companies
|
3
|
|
Schedule of Investments
|
3
|
|
Statement of Assets and Liabilities
|
6
|
|
Statement of Operations
|
7
|
|
Statement of Changes in Net Assets
|
8
|
|
Financial Highlights
|
10
|
|
Notes to Financial Statements
|
14
|
|
Report of Independent Registered Public Accounting Firm
|
20
|
|
Important Tax Information
|
21
|
|
Item 8. Changes in and Disagreements with Accountants for Open-End Management
Investment Companies
|
22
|
|
Item 9. Proxy Disclosures for Open-End Management Investment Companies
|
23
|
|
Item 10. Remuneration Paid to Directors, Officers, and Other of Open-End
Management Investment Companies
|
24
|
|
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts
|
25
|
|
Description
|
|
|
|
Shares
|
Value ($)
|
|
Common Stocks - 98.6%
|
|||||
|
Australia - 2.8%
|
|||||
|
Cochlear Ltd.
|
303,600
|
55,535,274
|
|||
|
CSL Ltd.
|
572,700
|
69,859,199
|
|||
|
|
125,394,473
|
||||
|
Canada - 2.9%
|
|||||
|
Alimentation Couche-Tard, Inc.
|
2,383,000
|
130,161,644
|
|||
|
Denmark - 3.9%
|
|||||
|
Coloplast AS, Cl. B
|
983,200
|
88,751,881
|
|||
|
Novo Nordisk AS, Cl. B
|
1,829,300
|
90,138,644
|
|||
|
|
178,890,525
|
||||
|
Finland - 2.4%
|
|||||
|
Kone OYJ, Cl. B
|
1,625,000
|
110,469,058
|
|||
|
France - 15.9%
|
|||||
|
Air Liquide SA
|
538,300
|
103,116,962
|
|||
|
Dassault Systemes SE
|
3,102,000
|
86,854,047
|
|||
|
Hermes International SCA
|
42,000
|
102,350,955
|
|||
|
L'Oreal SA
|
273,400
|
119,179,058
|
|||
|
LVMH Moet Hennessy Louis Vuitton SE
|
203,500
|
151,019,986
|
|||
|
Schneider Electric SE
|
213,000
|
57,302,174
|
|||
|
TotalEnergies SE
|
1,557,000
|
102,321,386
|
|||
|
|
722,144,568
|
||||
|
Germany - 8.4%
|
|||||
|
adidas AG
|
299,750
|
55,917,103
|
|||
|
Infineon Technologies AG
|
2,656,000
|
111,982,516
|
|||
|
Merck KGaA
|
684,600
|
92,085,279
|
|||
|
SAP SE
|
491,700
|
119,003,867
|
|||
|
|
378,988,765
|
||||
|
Hong Kong - 5.0%
|
|||||
|
AIA Group Ltd.
|
17,347,200
|
180,760,531
|
|||
|
Jardine Matheson Holdings Ltd.
|
669,200
|
44,000,094
|
|||
|
|
224,760,625
|
||||
|
Ireland - 2.5%
|
|||||
|
Experian PLC
|
2,540,000
|
111,747,514
|
|||
|
Italy - 2.1%
|
|||||
|
Ferrari NV
|
246,300
|
96,759,755
|
|||
|
Japan - 13.1%
|
|||||
|
Capcom Co. Ltd.
|
883,300
|
21,613,045
|
|||
|
Daikin Industries Ltd.
|
717,200
|
93,055,102
|
|||
|
Hoya Corp.
|
687,200
|
103,111,455
|
|||
|
Keyence Corp.
|
316,680
|
107,692,767
|
|||
|
Nomura Research Institute Ltd.
|
1,793,300
|
72,089,070
|
|||
|
Shin-Etsu Chemical Co. Ltd.
|
2,947,700
|
88,902,858
|
|||
|
Sysmex Corp.
|
1,489,500
|
14,271,164
|
|||
|
Terumo Corp.
|
6,029,800
|
94,706,708
|
|||
|
|
595,442,169
|
||||
|
Netherlands - 10.5%
|
|||||
|
ASM International NV
|
202,700
|
112,501,707
|
|||
|
ASML Holding NV
|
176,120
|
186,903,329
|
|||
|
Description
|
|
|
|
Shares
|
Value ($)
|
|
Common Stocks - 98.6% (continued)
|
|||||
|
Netherlands - 10.5% (continued)
|
|||||
|
Universal Music Group NV
|
3,823,000
|
97,956,192
|
|||
|
Wolters Kluwer NV
|
721,000
|
76,652,313
|
|||
|
|
474,013,541
|
||||
|
Spain - 4.9%
|
|||||
|
Amadeus IT Group SA
|
1,285,600
|
94,718,966
|
|||
|
Industria de Diseno Textil SA
|
2,246,000
|
125,938,690
|
|||
|
|
220,657,656
|
||||
|
Sweden - 2.2%
|
|||||
|
Atlas Copco AB, Cl. B
|
6,517,000
|
99,799,279
|
|||
|
Switzerland - 9.0%
|
|||||
|
ABB Ltd.
|
639,500
|
46,074,337
|
|||
|
Alcon AG
|
401,656
|
31,998,281
|
|||
|
Lonza Group AG
|
155,200
|
106,592,224
|
|||
|
Roche Holding AG
|
274,900
|
105,197,124
|
|||
|
SGS SA
|
1,040,000
|
119,363,319
|
|||
|
|
409,225,285
|
||||
|
Taiwan - 4.7%
|
|||||
|
Taiwan Semiconductor Manufacturing Co. Ltd., ADR
|
727,100
|
211,956,921
|
|||
|
United Kingdom - 8.3%
|
|||||
|
Compass Group PLC
|
3,342,000
|
104,983,766
|
|||
|
Halma PLC
|
1,460,000
|
68,945,594
|
|||
|
National Grid PLC
|
6,675,700
|
101,220,816
|
|||
|
The Sage Group PLC
|
7,201,300
|
102,451,131
|
|||
|
|
377,601,307
|
||||
|
Total Common Stocks
(cost $2,786,937,068)
|
4,468,013,085
|
||||
|
|
|
1-Day
Yield (%)
|
|
|
|
|
Investment Companies - 1.1%
|
|||||
|
Registered Investment Companies - 1.1%
|
|||||
|
Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional
Shares(a)
(cost $50,768,255)
|
4.15
|
50,768,255
|
50,768,255
|
||
|
Total Investments(cost $2,837,705,323)
|
99.7
%
|
4,518,781,340
|
|||
|
Cash and Receivables (Net)
|
.3
%
|
12,121,584
|
|||
|
Net Assets
|
100.0
%
|
4,530,902,924
|
|
ADR-American Depositary Receipt
|
|
(a)
|
Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's
prospectus.
|
|
Affiliated Issuers
|
|||||
|
Description
|
Value ($)
11/30/2024
|
Purchases ($)†
|
Sales ($)
|
Value ($)
11/30/2025
|
Dividends/
Distributions ($)
|
|
Registered Investment Companies - 1.1%
|
|||||
|
Dreyfus Institutional Preferred Government Plus Money
Market Fund, Institutional Shares - 1.1%
|
66,942,757
|
1,205,320,427
|
(1,221,494,929)
|
50,768,255
|
2,752,979
|
|
Affiliated Issuers (continued)
|
|||||
|
Description
|
Value ($)
11/30/2024
|
Purchases ($)†
|
Sales ($)
|
Value ($)
11/30/2025
|
Dividends/
Distributions ($)
|
|
Investment of Cash Collateral for Securities Loaned - .0%
|
|||||
|
Dreyfus Institutional Preferred Government Plus Money
Market Fund, Institutional Shares - .0%
|
70,789
|
119,096,329
|
(119,167,118)
|
-
|
28,358††
|
|
Total - 1.1%
|
67,013,546
|
1,324,416,756
|
(1,340,662,047)
|
50,768,255
|
2,781,337
|
|
†
|
Includes reinvested dividends/distributions.
|
|
††
|
Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and
other payments to and from borrowers of securities.
|
|
|
Cost
|
Value
|
|
Assets ($):
|
||
|
Investments in securities-See Schedule of Investments:
|
||
|
Unaffiliated issuers
|
2,786,937,068
|
4,468,013,085
|
|
Affiliated issuers
|
50,768,255
|
50,768,255
|
|
Cash denominated in foreign currency
|
4,965,749
|
4,980,709
|
|
Tax reclaim receivable-Note 1(b)
|
18,497,760
|
|
|
Receivable for investment securities sold
|
5,626,425
|
|
|
Dividends and securities lending income receivable
|
4,953,206
|
|
|
Receivable for shares of Common Stock subscribed
|
506,030
|
|
|
Prepaid expenses
|
80,620
|
|
|
|
4,553,426,090
|
|
|
Liabilities ($):
|
||
|
Due to BNY Mellon Investment Adviser, Inc. and affiliates-Note 3(c)
|
3,329,680
|
|
|
Payable for investment securities purchased
|
17,063,225
|
|
|
Payable for shares of Common Stock redeemed
|
1,674,259
|
|
|
Directors' fees and expenses payable
|
83,333
|
|
|
Interest payable-Note 2
|
13,014
|
|
|
Other accrued expenses
|
359,655
|
|
|
|
22,523,166
|
|
|
Net Assets ($)
|
4,530,902,924
|
|
|
Composition of Net Assets ($):
|
||
|
Paid-in capital
|
2,416,412,259
|
|
|
Total distributable earnings (loss)
|
2,114,490,665
|
|
|
Net Assets ($)
|
4,530,902,924
|
|
Net Asset Value Per Share
|
Class A
|
Class C
|
Class I
|
Class Y
|
|
Net Assets ($)
|
49,438,103
|
4,715,346
|
2,568,650,145
|
1,908,099,330
|
|
Shares Outstanding
|
2,096,460
|
207,382
|
108,015,450
|
81,292,259
|
|
Net Asset Value Per Share ($)
|
23.58
|
22.74
|
23.78
|
23.47
|
|
|
|
|
Investment Income ($):
|
|
|
Income:
|
|
|
Cash dividends (net of $11,989,509 foreign taxes withheld at source):
|
|
|
Unaffiliated issuers
|
95,034,147
|
|
Affiliated issuers
|
2,752,979
|
|
Interest
|
51,129
|
|
Affiliated income net of rebates from securities lending-Note 1(c)
|
28,358
|
|
Total Income
|
97,866,613
|
|
Expenses:
|
|
|
Management fee-Note 3(a)
|
45,057,635
|
|
Shareholder servicing costs-Note 3(c)
|
1,644,208
|
|
Directors' fees and expenses-Note 3(d)
|
547,157
|
|
Custodian fees-Note 3(c)
|
344,497
|
|
Prospectus and shareholders' reports
|
278,681
|
|
Loan commitment fees-Note 2
|
129,281
|
|
Professional fees
|
121,683
|
|
Registration fees
|
106,605
|
|
Interest expense-Note 2
|
48,187
|
|
Distribution Plan fees-Note 3(b)
|
43,904
|
|
Chief Compliance Officer fees-Note 3(c)
|
24,861
|
|
Shareholder and regulatory reports service fees-Note 3(c)
|
15,500
|
|
Miscellaneous
|
194,055
|
|
Total Expenses
|
48,556,254
|
|
Less-reduction in fees due to earnings credits-Note 3(c)
|
(2,449
)
|
|
Net Expenses
|
48,553,805
|
|
Net Investment Income
|
49,312,808
|
|
Realized and Unrealized Gain (Loss) on Investments-Note 4 ($):
|
|
|
Net realized gain (loss) on investments and foreign currency transactions
|
476,700,547
|
|
Net realized gain (loss) on forward foreign currency exchange contracts
|
97
|
|
Net Realized Gain (Loss)
|
476,700,644
|
|
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions
|
(430,213,040
)
|
|
Net Realized and Unrealized Gain (Loss) on Investments
|
46,487,604
|
|
Net Increase in Net Assets Resulting from Operations
|
95,800,412
|
|
|
Year Ended November 30,
|
|
|
|
2025
|
2024
|
|
Operations ($):
|
||
|
Net investment income
|
49,312,808
|
50,767,610
|
|
Net realized gain (loss) on investments
|
476,700,644
|
172,918,007
|
|
Net change in unrealized appreciation (depreciation) on investments
|
(430,213,040)
|
190,081,019
|
|
Net Increase (Decrease) in Net Assets Resulting from Operations
|
95,800,412
|
413,766,636
|
|
Distributions ($):
|
||
|
Distributions to shareholders:
|
||
|
Class A
|
(1,944,382)
|
(1,005,350)
|
|
Class C
|
(208,386)
|
(112,896)
|
|
Class I
|
(125,502,190)
|
(73,419,561)
|
|
Class Y
|
(96,038,475)
|
(51,262,675)
|
|
Total Distributions
|
(223,693,433)
|
(125,800,482)
|
|
Capital Stock Transactions ($):
|
||
|
Net proceeds from shares sold:
|
||
|
Class A
|
11,048,119
|
21,289,173
|
|
Class C
|
526,843
|
690,944
|
|
Class I
|
448,215,284
|
607,830,415
|
|
Class Y
|
248,261,788
|
610,658,579
|
|
Distributions reinvested:
|
||
|
Class A
|
1,637,357
|
933,628
|
|
Class C
|
208,386
|
112,896
|
|
Class I
|
120,241,143
|
70,165,760
|
|
Class Y
|
53,398,371
|
27,182,246
|
|
Cost of shares redeemed:
|
||
|
Class A
|
(18,767,172)
|
(21,709,085)
|
|
Class C
|
(2,823,568)
|
(2,524,143)
|
|
Class I
|
(1,295,968,451)
|
(828,967,724)
|
|
Class Y
|
(847,059,336)
|
(517,629,852)
|
|
Increase (Decrease) in Net Assets from Capital Stock Transactions
|
(1,281,081,236)
|
(31,967,163)
|
|
Total Increase (Decrease) in Net Assets
|
(1,408,974,257)
|
255,998,991
|
|
Net Assets ($):
|
||
|
Beginning of Period
|
5,939,877,181
|
5,683,878,190
|
|
End of Period
|
4,530,902,924
|
5,939,877,181
|
|
|
Year Ended November 30,
|
|
|
|
2025
|
2024
|
|
Capital Share Transactions (Shares):
|
||
|
Class A(a),(b)
|
||
|
Shares sold
|
472,887
|
867,695
|
|
Shares issued for distributions reinvested
|
70,312
|
40,663
|
|
Shares redeemed
|
(801,303)
|
(887,483)
|
|
Net Increase (Decrease) in Shares Outstanding
|
(258,104)
|
20,875
|
|
Class C(a)
|
||
|
Shares sold
|
23,254
|
29,088
|
|
Shares issued for distributions reinvested
|
9,217
|
5,049
|
|
Shares redeemed
|
(124,517)
|
(106,811)
|
|
Net Increase (Decrease) in Shares Outstanding
|
(92,046)
|
(72,674)
|
|
Class I(b)
|
||
|
Shares sold
|
19,130,753
|
24,684,909
|
|
Shares issued for distributions reinvested
|
5,133,297
|
3,040,111
|
|
Shares redeemed
|
(55,173,117)
|
(33,814,989)
|
|
Net Increase (Decrease) in Shares Outstanding
|
(30,909,067)
|
(6,089,969)
|
|
Class Y(b)
|
||
|
Shares sold
|
10,625,530
|
25,078,931
|
|
Shares issued for distributions reinvested
|
2,309,970
|
1,193,250
|
|
Shares redeemed
|
(36,603,280)
|
(21,247,779)
|
|
Net Increase (Decrease) in Shares Outstanding
|
(23,667,780)
|
5,024,402
|
|
(a)
|
During the period ended November 30, 2025, 25 Class C shares representing $579 were automatically converted to 25 Class A shares.
|
|
(b)
|
During the period ended November 30, 2025, 911,808 Class Y shares representing $21,220,310 were exchanged for 899,842 Class I shares. During the period
ended November 30, 2024, 75,417 Class I shares representing $1,930,025 were exchanged for 75,986 Class A shares, 135,987 Class Y shares representing
$3,299,105 were exchanged for 135,250 Class A shares, and 499,000 Class I shares representing $12,634,596 were exchanged for 505,372 Class Y shares.
|
|
|
Year Ended November 30,
|
||||
|
Class A Shares
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Per Share Data ($):
|
|
|
|
|
|
|
Net asset value, beginning of period
|
24.03
|
22.88
|
21.31
|
25.66
|
24.09
|
|
Investment Operations:
|
|||||
|
Net investment income(a)
|
.14
|
.12
|
.14
|
.10
|
.05
|
|
Net realized and unrealized gain (loss) on investments
|
.25
|
1.46
|
1.88
|
(4.31
)
|
2.21
|
|
Total from Investment Operations
|
.39
|
1.58
|
2.02
|
(4.21
)
|
2.26
|
|
Distributions:
|
|||||
|
Dividends from net investment income
|
(.13
)
|
(.12
)
|
(.12
)
|
(.05
)
|
(.08
)
|
|
Dividends from net realized gain on investments
|
(.71
)
|
(.31
)
|
(.33
)
|
(.09
)
|
(.61
)
|
|
Total Distributions
|
(.84
)
|
(.43
)
|
(.45
)
|
(.14
)
|
(.69
)
|
|
Net asset value, end of period
|
23.58
|
24.03
|
22.88
|
21.31
|
25.66
|
|
Total Return (%)(b)
|
1.66
|
7.00
|
9.59
|
(16.50
)
|
9.58
|
|
Ratios/Supplemental Data (%):
|
|
|
|
|
|
|
Ratio of total expenses to average net assets
|
1.23
|
1.24
|
1.23
|
1.29
|
1.27
|
|
Ratio of net expenses to average net assets
|
1.23
(c)
|
1.24
(c)
|
1.23
(c)
|
1.29
(c)
|
1.27
|
|
Ratio of net investment income to average net assets
|
.61
(c)
|
.50
(c)
|
.62
(c)
|
.45
(c)
|
.20
|
|
Portfolio Turnover Rate
|
8.62
|
12.30
|
7.37
|
6.98
|
8.72
|
|
Net Assets, end of period ($ x 1,000)
|
49,438
|
56,575
|
53,400
|
55,110
|
74,707
|
|
(a)
|
Based on average shares outstanding.
|
|
(b)
|
Exclusive of sales charge.
|
|
(c)
|
Amount inclusive of reduction in fees due to earnings credits.
|
|
|
Year Ended November 30,
|
||||
|
Class C Shares
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Per Share Data ($):
|
|
|
|
|
|
|
Net asset value, beginning of period
|
23.24
|
22.19
|
20.71
|
25.07
|
23.63
|
|
Investment Operations:
|
|||||
|
Net investment (loss)(a)
|
(.03
)
|
(.05
)
|
(.04
)
|
(.05
)
|
(.12
)
|
|
Net realized and unrealized gain (loss) on investments
|
.24
|
1.41
|
1.85
|
(4.22
)
|
2.17
|
|
Total from Investment Operations
|
.21
|
1.36
|
1.81
|
(4.27
)
|
2.05
|
|
Distributions:
|
|||||
|
Dividends from net realized gain on investments
|
(.71
)
|
(.31
)
|
(.33
)
|
(.09
)
|
(.61
)
|
|
Net asset value, end of period
|
22.74
|
23.24
|
22.19
|
20.71
|
25.07
|
|
Total Return (%)(b)
|
.93
|
6.17
|
8.83
|
(17.10
)
|
8.85
|
|
Ratios/Supplemental Data (%):
|
|
|
|
|
|
|
Ratio of total expenses to average net assets
|
1.99
|
1.97
|
1.98
|
1.98
|
1.97
|
|
Ratio of net expenses to average net assets
|
1.99
(c)
|
1.97
(c)
|
1.98
(c)
|
1.98
(c)
|
1.97
|
|
Ratio of net investment (loss) to average net assets
|
(.15
)(c)
|
(.21
)(c)
|
(.18
)(c)
|
(.24
)(c)
|
(.47
)
|
|
Portfolio Turnover Rate
|
8.62
|
12.30
|
7.37
|
6.98
|
8.72
|
|
Net Assets, end of period ($ x 1,000)
|
4,715
|
6,959
|
8,255
|
5,903
|
11,190
|
|
(a)
|
Based on average shares outstanding.
|
|
(b)
|
Exclusive of sales charge.
|
|
(c)
|
Amount inclusive of reduction in fees due to earnings credits.
|
|
|
Year Ended November 30,
|
||||
|
Class I Shares
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Per Share Data ($):
|
|
|
|
|
|
|
Net asset value, beginning of period
|
24.22
|
23.07
|
21.50
|
25.88
|
24.27
|
|
Investment Operations:
|
|||||
|
Net investment income(a)
|
.22
|
.20
|
.20
|
.18
|
.14
|
|
Net realized and unrealized gain (loss) on investments
|
.25
|
1.46
|
1.90
|
(4.33
)
|
2.23
|
|
Total from Investment Operations
|
.47
|
1.66
|
2.10
|
(4.15
)
|
2.37
|
|
Distributions:
|
|||||
|
Dividends from net investment income
|
(.20
)
|
(.20
)
|
(.20
)
|
(.14
)
|
(.15
)
|
|
Dividends from net realized gain on investments
|
(.71
)
|
(.31
)
|
(.33
)
|
(.09
)
|
(.61
)
|
|
Total Distributions
|
(.91
)
|
(.51
)
|
(.53
)
|
(.23
)
|
(.76
)
|
|
Net asset value, end of period
|
23.78
|
24.22
|
23.07
|
21.50
|
25.88
|
|
Total Return (%)
|
2.01
|
7.29
|
9.95
|
(16.20
)
|
10.01
|
|
Ratios/Supplemental Data (%):
|
|
|
|
|
|
|
Ratio of total expenses to average net assets
|
.93
|
.93
|
.93
|
.92
|
.91
|
|
Ratio of net expenses to average net assets
|
.93
(b)
|
.93
(b)
|
.93
(b)
|
.92
(b)
|
.91
|
|
Ratio of net investment income to average net assets
|
.92
(b)
|
.82
(b)
|
.90
(b)
|
.81
(b)
|
.56
|
|
Portfolio Turnover Rate
|
8.62
|
12.30
|
7.37
|
6.98
|
8.72
|
|
Net Assets, end of period ($ x 1,000)
|
2,568,650
|
3,365,411
|
3,345,179
|
2,925,622
|
3,847,708
|
|
(a)
|
Based on average shares outstanding.
|
|
(b)
|
Amount inclusive of reduction in fees due to earnings credits.
|
|
|
Year Ended November 30,
|
||||
|
Class Y Shares
|
2025
|
2024
|
2023
|
2022
|
2021
|
|
Per Share Data ($):
|
|
|
|
|
|
|
Net asset value, beginning of period
|
23.92
|
22.79
|
21.24
|
25.57
|
23.99
|
|
Investment Operations:
|
|||||
|
Net investment income(a)
|
.22
|
.21
|
.21
|
.19
|
.15
|
|
Net realized and unrealized gain (loss) on investments
|
.25
|
1.44
|
1.88
|
(4.28
)
|
2.19
|
|
Total from Investment Operations
|
.47
|
1.65
|
2.09
|
(4.09
)
|
2.34
|
|
Distributions:
|
|||||
|
Dividends from net investment income
|
(.21
)
|
(.21
)
|
(.21
)
|
(.15
)
|
(.15
)
|
|
Dividends from net realized gain on investments
|
(.71
)
|
(.31
)
|
(.33
)
|
(.09
)
|
(.61
)
|
|
Total Distributions
|
(.92
)
|
(.52
)
|
(.54
)
|
(.24
)
|
(.76
)
|
|
Net asset value, end of period
|
23.47
|
23.92
|
22.79
|
21.24
|
25.57
|
|
Total Return (%)
|
2.04
|
7.33
|
10.02
|
(16.17
)
|
10.02
|
|
Ratios/Supplemental Data (%):
|
|
|
|
|
|
|
Ratio of total expenses to average net assets
|
.88
|
.89
|
.89
|
.89
|
.88
|
|
Ratio of net expenses to average net assets
|
.88
(b)
|
.89
(b)
|
.89
(b)
|
.89
(b)
|
.88
|
|
Ratio of net investment income to average net assets
|
.96
(b)
|
.85
(b)
|
.95
(b)
|
.85
(b)
|
.59
|
|
Portfolio Turnover Rate
|
8.62
|
12.30
|
7.37
|
6.98
|
8.72
|
|
Net Assets, end of period ($ x 1,000)
|
1,908,099
|
2,510,932
|
2,277,044
|
2,325,263
|
3,069,335
|
|
(a)
|
Based on average shares outstanding.
|
|
(b)
|
Amount inclusive of reduction in fees due to earnings credits.
|
|
|
Level 1 -
Unadjusted
Quoted Prices
|
Level 2- Other
Significant
Observable Inputs
|
Level 3-
Significant
Unobservable
Inputs
|
Total
|
|
Assets ($)
|
||||
|
Investments in Securities:†
|
||||
|
Equity Securities - Common Stocks
|
342,118,565
|
4,125,894,520††
|
-
|
4,468,013,085
|
|
Investment Companies
|
50,768,255
|
-
|
-
|
50,768,255
|
|
|
392,886,820
|
4,125,894,520
|
-
|
4,518,781,340
|
|
†
|
See Schedule of Investments for additional detailed categorizations, if any.
|
|
††
|
Securities classified within Level 2 at period end as the values were determined pursuant to the fund's fair valuation procedures.
|
|
Amount of realized gain (loss) on derivatives recognized in income ($)
|
||
|
Underlying risk
|
Forward Contracts(1)
|
Total
|
|
Foreign Exchange
|
97
|
97
|
|
Total
|
97
|
97
|
|
Statement of Operations location:
|
|
|
(1)
|
Net realized gain (loss) on forward foreign currency exchange contracts.
|
|
|
Average Market Value ($)
|
|
Forward Contracts:
|
|
|
Forward Contracts Sold in USD
|
31,041
|
|
|
Shares
|
|
|
|
For
|
Withheld
|
|
To elect seven Board Members to the Board of Directors of the Fund:
|
||
|
Francine J. Bovich
|
151,949,968
|
474,965
|
|
Andrew J. Donohue
|
151,968,978
|
455,955
|
|
Joan L. Gulley
|
151,897,975
|
526,958
|
|
Alan H. Howard
|
151,936,553
|
488,380
|
|
Bradley J. Skapyak
|
151,975,244
|
449,689
|
|
Roslyn M. Watson
|
151,945,872
|
479,061
|
|
Benaree Pratt Wiley
|
151,893,486
|
531,447
|
| 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) .
| (a)(2) | Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. |
(a)(3) Not applicable.
| (b) | Certification of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
BNY Mellon Strategic Funds, Inc.
By: /s/ David J. DiPetrillo
David J. DiPetrillo
President (Principal Executive Officer)
Date: January 22, 2026
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: /s/ David J. DiPetrillo
David J. DiPetrillo
President (Principal Executive Officer)
Date: January 22, 2026
By: /s/ James Windels
James Windels
Treasurer (Principal Financial Officer)
Date: January 22, 2026
EXHIBIT INDEX
| (a)(1) | Code of ethics referred to in Item 2. |
| (a)(2) | Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT) |
| (b) | Certification of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940. (EX-99.906CERT) |