Form NPORT-P BNY Mellon Advantage For: Jul 31

September 28, 2021 6:56 AM EDT

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		NPORT-P
		false
		
			
			
				
					0000914775
					XXXXXXXX
				
			
			
			
			
				S000011967
				C000032670
				C000032716
				C000032717
				C000130429
			
			
			
		
	
	
		
			BNY Mellon Advantage Funds, Inc.
			811-07123
			0000914775
			549300SWCD16M4CV8Q16
			240 Greenwich Street
			New York
			
			10286
			212 495 1784
			BNY Mellon Dynamic Total Return Fund
			S000011967
			3IX50J1I91RC5OKDEU06
			2021-10-31
			2021-07-31
			N
		
		
			344011693.44
			462168.60
			343549524.84
			0.00
			26320771.68
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			0.00
			5469704.76
			
				
					CAD
					
					
				
				
					NZD
					
					
				
				
					JPY
					
					
				
				
					GBP
					
					
				
				
					EUR
					
					
				
				
					SEK
					
					
				
				
					NOK
					
					
				
				
					HKD
					
					
				
				
					USD
					
					
				
				
					AUD
					
					
				
				
					CHF
					
					
				
			
			
			
			N
			
				
					
					
					
					
				
				
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
					
						
						
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
						
							
							
							
						
					
				
				
				
				
			
			
			
			
		
		
			
				LXZ1 COMDTY
				N/A
				LME ZINC FUTURE DEC21
				N/A
				
					
					
				
				4.00
				NC
				USD
				303000.00
				0.0881968910133
				Long
				DCO
				
				GB
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								LXZ1 COMDTY_REF
								LME ZINC FUTURE DEC21
								
									
									
									
								
							
						
						2021-12-15
						295212.00
						USD
						7788.00
					
				
				
					N
					N
					N
				
			
			
				LAZ1 21 COMDTY
				N/A
				LME PRI ALUM FUTR DEC21
				N/A
				
					
					
				
				18.00
				NC
				USD
				1163025.00
				0.3385319774613
				Long
				DCO
				
				GB
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								LAZ1 21 COMDTY_REF
								LME PRI ALUM FUTR DEC21
								
									
									
									
								
							
						
						2021-12-15
						1123116.50
						USD
						39908.50
					
				
				
					N
					N
					N
				
			
			
				LLZ1 COMDTY
				N/A
				LME LEAD FUTURE DEC21
				N/A
				
					
					
				
				2.00
				NC
				USD
				118500.00
				0.0344928435151
				Long
				DCO
				
				GB
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								LLZ1 COMDTY_REF
								LME LEAD FUTURE DEC21
								
									
									
									
								
							
						
						2021-12-15
						114556.00
						USD
						3944.00
					
				
				
					N
					N
					N
				
			
			
				TREASURY BILL
				254900HROIFWPRGM1V77
				UNITED STATES TREASURY BILL
				912796F46
				
					
					
				
				15000000.00
				OU
				Other Units
				USD
				14999296.80
				4.3659780367868
				Long
				STIV
				UST
				US
				
				N
				
				2
				
					2021-09-16
					Fixed
					N/A
					N
					N
					N
				
				
					N
					N
					N
				
			
			
				LNZ1 COMDTY
				N/A
				LME NICKEL FUTURE DEC21
				N/A
				
					
					
				
				2.00
				NC
				USD
				234594.00
				0.0682853513214
				Long
				DCO
				
				GB
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								LNZ1 COMDTY_REF
								LME NICKEL FUTURE DEC21
								
									
									
									
								
							
						
						2021-12-15
						220254.00
						USD
						14340.00
					
				
				
					N
					N
					N
				
			
			
				TREASURY BILL
				254900HROIFWPRGM1V77
				UNITED STATES TREASURY BILL
				912796H69
				
					
					
				
				6000000.00
				OU
				Other Units
				USD
				5999185.50
				1.7462360056512
				Long
				STIV
				UST
				US
				
				N
				
				2
				
					2021-11-18
					Fixed
					N/A
					N
					N
					N
				
				
					N
					N
					N
				
			
			
				CHESAPEAKE ENERGY CORP
				X2MT1W32SPAZ9WSKLE78
				CHESAPEAKE ENERGY CORP
				165ESCAG9
				
					
					
				
				65000.00
				PA
				USD
				0.00
				N/A
				Long
				DBT
				CORP
				US
				
				N
				
				2
				
					2026-02-09
					Fixed
					0.000001
					Y
					Y
					N
				
				
					N
					N
					N
				
			
			
				FTLTRB39QMNB56UH_1071200_L
				N/A
				SEK/USD FWD 20210915 00418
				N/A
				
					
					
				
				156233085.00
				NC
				
				18155549.69
				5.284696492727
				Long
				DFE
				
				SE
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						18155549.69
						USD
						156233085.00
						SEK
						2021-09-15
						-748294.04
					
				
				
					N
					N
					N
				
			
			
				PD7V4CA60P7DI6TK_1071200_L
				N/A
				EUR/USD FWD 20210915 00418
				N/A
				
					
					
				
				36942000.00
				NC
				
				43862972.08
				12.7675833929411
				Long
				DFE
				
				XX
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						43862972.08
						USD
						36942000.00
						EUR
						2021-09-15
						4485.18
					
				
				
					N
					N
					N
				
			
			
				FUPKLLQ1SNCH8G5N_1071200_S
				N/A
				NZD/USD FWD 20210915 00418
				N/A
				
					
					
				
				-17256183.00
				NC
				
				-12020100.31
				-3.4987969538301
				Short
				DFE
				
				NZ
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						17256183.00
						NZD
						12020100.31
						USD
						2021-09-15
						217006.33
					
				
				
					N
					N
					N
				
			
			
				V2VO8CLBFVNAL641_1071200_S
				N/A
				JPY/USD FWD 20210915 00418
				N/A
				
					
					
				
				-2698395000.00
				NC
				
				-24605757.50
				-7.1622155528986
				Short
				DFE
				
				JP
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						2698395000.00
						JPY
						24605757.50
						USD
						2021-09-15
						-111025.27
					
				
				
					N
					N
					N
				
			
			
				C3P2CIM2LQA5OC1B_1071200_S
				N/A
				CAD/USD FWD 20210915 00418
				N/A
				
					
					
				
				-2622000.00
				NC
				
				-2101602.54
				-0.611732046778
				Short
				DFE
				
				CA
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						2622000.00
						CAD
						2101602.54
						USD
						2021-09-15
						7750.78
					
				
				
					N
					N
					N
				
			
			
				TREASURY BILL
				254900HROIFWPRGM1V77
				UNITED STATES TREASURY BILL
				912796F61
				
					
					
				
				86596100.00
				OU
				Other Units
				USD
				86590068.58
				25.2045374303245
				Long
				STIV
				UST
				US
				
				N
				
				2
				
					2021-09-30
					Fixed
					N/A
					N
					N
					N
				
				
					N
					N
					N
				
			
			
				4JNRO722K7KD8V9U_1071200_L
				N/A
				AUD/USD FWD 20210915 00005
				N/A
				
					
					
				
				1946000.00
				NC
				
				1428406.05
				0.4157787878371
				Long
				DFE
				
				AU
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						1428406.05
						USD
						1946000.00
						AUD
						2021-09-15
						-67867.51
					
				
				
					N
					N
					N
				
			
			
				5KJBMA93Q2NKC5O1_1071200_L
				N/A
				NOK/USD FWD 20210915 00418
				N/A
				
					
					
				
				21430000.00
				NC
				
				2425915.16
				0.7061325906737
				Long
				DFE
				
				NO
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						2425915.16
						USD
						21430000.00
						NOK
						2021-09-15
						-22069.30
					
				
				
					N
					N
					N
				
			
			
				2J0HJMI50HN9EMCI_1071200_S
				N/A
				JPY/USD FWD 20210915 00005
				N/A
				
					
					
				
				-252583000.00
				NC
				
				-2303219.52
				-0.6704184850998
				Short
				DFE
				
				JP
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						252583000.00
						JPY
						2303219.52
						USD
						2021-09-15
						-7642.76
					
				
				
					N
					N
					N
				
			
			
				V2VO8CLBFVNAL641_1071200_L
				N/A
				JPY/USD FWD 20210915 00418
				N/A
				
					
					
				
				524517000.00
				NC
				
				4782894.32
				1.3921993698659
				Long
				DFE
				
				JP
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						4782894.32
						USD
						524517000.00
						JPY
						2021-09-15
						28539.26
					
				
				
					N
					N
					N
				
			
			
				K07LHLIIVHSH00H2_1071200_L
				N/A
				AUD/USD FWD 20210915 50
				N/A
				
					
					
				
				4878000.00
				NC
				
				3580557.41
				1.0422245269201
				Long
				DFE
				
				AU
				
				N
				
				2
				
					
						
							MORGAN STANLEY & COMPANY LLC
							N/A
						
						3580557.41
						USD
						4878000.00
						AUD
						2021-09-15
						-69845.11
					
				
				
					N
					N
					N
				
			
			
				LTK962BNUFGJMNTC_1071200_S
				N/A
				GBP/USD FWD 20210915 00418
				N/A
				
					
					
				
				-2182000.00
				NC
				
				-3033333.34
				-0.8829391749014
				Short
				DFE
				
				GB
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						2182000.00
						GBP
						3033333.34
						USD
						2021-09-15
						-21185.51
					
				
				
					N
					N
					N
				
			
			
				UVVOJQJHU0V5DLEN_1071200_S
				N/A
				AUD/USD FWD 20210915 00418
				N/A
				
					
					
				
				-9163000.00
				NC
				
				-6725840.01
				-1.9577497634823
				Short
				DFE
				
				AU
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						9163000.00
						AUD
						6725840.01
						USD
						2021-09-15
						84901.14
					
				
				
					N
					N
					N
				
			
			
				BBG00ZWYLBJ4
				N/A
				ESU1C    4380
				N/A
				
					
					
				
				177.00
				NC
				USD
				859335.00
				0.2501342420427
				Long
				DE
				
				US
				
				N
				
				1
				
					
						
							MORGAN STANLEY & COMPANY LLC
							N/A
						
						Call
						Purchased
						
							
								CASHUSD
								CASHUSD
								
									
								
							
						
						50.00
						4380.00
						USD
						2021-09-17
						XXXX
						166065.43
					
				
				
					N
					N
					N
				
			
			
				C3P2CIM2LQA5OC1B_1071200_L
				N/A
				CAD/USD FWD 20210915 00418
				N/A
				
					
					
				
				7320000.00
				NC
				
				5867174.13
				1.7078102881185
				Long
				DFE
				
				CA
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						5867174.13
						USD
						7320000.00
						CAD
						2021-09-15
						-48235.12
					
				
				
					N
					N
					N
				
			
			
				TREASURY BILL
				254900HROIFWPRGM1V77
				UNITED STATES TREASURY BILL
				912796F46
				
					
					
				
				88173500.00
				OU
				Other Units
				USD
				88169366.43
				25.6642376295128
				Long
				STIV
				UST
				US
				
				N
				
				2
				
					2021-09-16
					Fixed
					N/A
					N
					N
					N
				
				
					N
					N
					N
				
			
			
				TREASURY BILL
				254900HROIFWPRGM1V77
				UNITED STATES TREASURY BILL
				912796D48
				
					
					
				
				79888400.00
				OU
				Other Units
				USD
				79887173.71
				23.2534665117658
				Long
				STIV
				UST
				US
				
				N
				
				2
				
					2021-08-19
					Fixed
					N/A
					N
					N
					N
				
				
					N
					N
					N
				
			
			
				HCG5I4SLE74EBV6O_1071200_L
				N/A
				CHF/USD FWD 20210915 00418
				N/A
				
					
					
				
				4159000.00
				NC
				
				4596731.96
				1.3380114445335
				Long
				DFE
				
				CH
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						4596731.96
						USD
						4159000.00
						CHF
						2021-09-15
						-22103.00
					
				
				
					N
					N
					N
				
			
			
				HCG5I4SLE74EBV6O_1071200_S
				N/A
				CHF/USD FWD 20210915 00418
				N/A
				
					
					
				
				-4402000.00
				NC
				
				-4865307.54
				-1.4161881150223
				Short
				DFE
				
				CH
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						4402000.00
						CHF
						4865307.54
						USD
						2021-09-15
						-87104.24
					
				
				
					N
					N
					N
				
			
			
				127NPV1O45GJCNTR_1071200_L
				N/A
				GBP/USD FWD 20210915 00005
				N/A
				
					
					
				
				28094651.00
				NC
				
				39056114.34
				11.3684087783819
				Long
				DFE
				
				GB
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						39056114.34
						USD
						28094651.00
						GBP
						2021-09-15
						-699682.69
					
				
				
					N
					N
					N
				
			
			
				TREASURY BILL
				254900HROIFWPRGM1V77
				UNITED STATES TREASURY BILL
				912796H44
				
					
					
				
				25448000.00
				OU
				Other Units
				USD
				25436212.74
				7.4039435076635
				Long
				STIV
				UST
				US
				
				N
				
				2
				
					2022-05-19
					Fixed
					N/A
					N
					N
					N
				
				
					N
					N
					N
				
			
			
				PD7V4CA60P7DI6TK_1071200_S
				N/A
				EUR/USD FWD 20210915 00418
				N/A
				
					
					
				
				-49464365.00
				NC
				
				-58731364.33
				-17.095457884086
				Short
				DFE
				
				XX
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						49464365.00
						EUR
						58731364.33
						USD
						2021-09-15
						1619909.55
					
				
				
					N
					N
					N
				
			
			
				UVVOJQJHU0V5DLEN_1071200_L
				N/A
				AUD/USD FWD 20210915 00418
				N/A
				
					
					
				
				9000000.00
				NC
				
				6606194.49
				1.922923483325
				Long
				DFE
				
				AU
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						6606194.49
						USD
						9000000.00
						AUD
						2021-09-15
						-296568.61
					
				
				
					N
					N
					N
				
			
			
				9A0V4O7PTD80ONTQ_1071200_S
				N/A
				NOK/USD FWD 20210915 00005
				N/A
				
					
					
				
				-19227000.00
				NC
				
				-2176531.53
				-0.6335422908862
				Short
				DFE
				
				NO
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						19227000.00
						NOK
						2176531.53
						USD
						2021-09-15
						129801.90
					
				
				
					N
					N
					N
				
			
			
				3493FGHEIJPI1QIC_1071200_S
				N/A
				AUD/USD FWD 20210915 418
				N/A
				
					
					
				
				-2248000.00
				NC
				
				-1650080.58
				-0.4803035547112
				Short
				DFE
				
				AU
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						2248000.00
						AUD
						1650080.58
						USD
						2021-09-15
						15478.36
					
				
				
					N
					N
					N
				
			
			
				S0ABF74PDTJGNUVD_1071200_L
				N/A
				CHF/USD FWD 20210915 816
				N/A
				
					
					
				
				17317559.00
				NC
				
				19140220.45
				5.5713133234325
				Long
				DFE
				
				CH
				
				N
				
				2
				
					
						
							HSBC SECURITIES INC
							N/A
						
						19140220.45
						USD
						17317559.00
						CHF
						2021-09-15
						-224585.87
					
				
				
					N
					N
					N
				
			
			
				5U63Q4HKPEOGNNA1_1071200_L
				N/A
				NZD/USD FWD 20210915 00005
				N/A
				
					
					
				
				4494000.00
				NC
				
				3130375.40
				0.9111860659559
				Long
				DFE
				
				NZ
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						3130375.40
						USD
						4494000.00
						NZD
						2021-09-15
						13570.69
					
				
				
					N
					N
					N
				
			
			
				TREASURY BILL
				254900HROIFWPRGM1V77
				UNITED STATES TREASURY BILL
				9127965G0
				
					
					
				
				50000.00
				OU
				Other Units
				USD
				49992.38
				0.0145517243906
				Long
				STIV
				UST
				US
				
				N
				
				2
				
					2021-12-02
					Fixed
					N/A
					N
					N
					N
				
				
					N
					N
					N
				
			
			
				BBG0105JMRW2
				N/A
				3EQ1C    4350
				N/A
				
					
					
				
				-157.00
				NC
				USD
				-635065.00
				-0.1848539887504
				Short
				DE
				
				US
				
				N
				
				1
				
					
						
							MORGAN STANLEY & COMPANY LLC
							N/A
						
						Call
						Written
						
							
								CASHUSD
								CASHUSD
								
									
								
							
						
						50.00
						4350.00
						USD
						2021-08-20
						XXXX
						-409596.71
					
				
				
					N
					N
					N
				
			
			
				PFKH34FO0PHFIAKN_1071200_L
				N/A
				JPY/USD FWD 20210915 816
				N/A
				
					
					
				
				275240000.00
				NC
				
				2509821.10
				0.7305558350484
				Long
				DFE
				
				JP
				
				N
				
				2
				
					
						
							HSBC SECURITIES INC
							N/A
						
						2509821.10
						USD
						275240000.00
						JPY
						2021-09-15
						9594.00
					
				
				
					N
					N
					N
				
			
			
				K07LHLIIVHSH00H2_1071200_S
				N/A
				AUD/USD FWD 20210915 50
				N/A
				
					
					
				
				-2207000.00
				NC
				
				-1619985.69
				-0.4715435687924
				Short
				DFE
				
				AU
				
				N
				
				2
				
					
						
							MORGAN STANLEY & COMPANY LLC
							N/A
						
						2207000.00
						AUD
						1619985.69
						USD
						2021-09-15
						7985.79
					
				
				
					N
					N
					N
				
			
			
				FUPKLLQ1SNCH8G5N_1071200_L
				N/A
				NZD/USD FWD 20210915 00418
				N/A
				
					
					
				
				2241000.00
				NC
				
				1561008.29
				0.4543764951289
				Long
				DFE
				
				NZ
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						1561008.29
						USD
						2241000.00
						NZD
						2021-09-15
						-9787.05
					
				
				
					N
					N
					N
				
			
			
				2J0HJMI50HN9EMCI_1071200_L
				N/A
				JPY/USD FWD 20210915 00005
				N/A
				
					
					
				
				385196000.00
				NC
				
				3512472.92
				1.0224065719886
				Long
				DFE
				
				JP
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						3512472.92
						USD
						385196000.00
						JPY
						2021-09-15
						-10188.67
					
				
				
					N
					N
					N
				
			
			
				9A0V4O7PTD80ONTQ_1071200_L
				N/A
				NOK/USD FWD 20210915 00005
				N/A
				
					
					
				
				24923000.00
				NC
				
				2821329.14
				0.8212292365457
				Long
				DFE
				
				NO
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						2821329.14
						USD
						24923000.00
						NOK
						2021-09-15
						8689.95
					
				
				
					N
					N
					N
				
			
			
				2VRET2CRF87AML1P_1071200_L
				N/A
				EUR/USD FWD 20210915 00005
				N/A
				
					
					
				
				11896000.00
				NC
				
				14124679.66
				4.1113954870344
				Long
				DFE
				
				XX
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						14124679.66
						USD
						11896000.00
						EUR
						2021-09-15
						56833.44
					
				
				
					N
					N
					N
				
			
			
				7UD11FMSQGD3020C_1071200_L
				N/A
				CAD/USD FWD 20210915 00005
				N/A
				
					
					
				
				1312000.00
				NC
				
				1051602.79
				0.3060993289074
				Long
				DFE
				
				CA
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						1051602.79
						USD
						1312000.00
						CAD
						2021-09-15
						22834.12
					
				
				
					N
					N
					N
				
			
			
				A5KVB3UNTQDKP2ES_1071200_S
				N/A
				GBP/USD FWD 20210915 50
				N/A
				
					
					
				
				-536000.00
				NC
				
				-745126.80
				-0.2168906507284
				Short
				DFE
				
				GB
				
				N
				
				2
				
					
						
							MORGAN STANLEY & COMPANY LLC
							N/A
						
						536000.00
						GBP
						745126.80
						USD
						2021-09-15
						-7569.36
					
				
				
					N
					N
					N
				
			
			
				127NPV1O45GJCNTR_1071200_S
				N/A
				GBP/USD FWD 20210915 00005
				N/A
				
					
					
				
				-3103000.00
				NC
				
				-4313672.48
				-1.2556188171149
				Short
				DFE
				
				GB
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						3103000.00
						GBP
						4313672.48
						USD
						2021-09-15
						-51131.32
					
				
				
					N
					N
					N
				
			
			
				R6QOA0FR11VK2L0R_1071200_L
				N/A
				EUR/USD FWD 20210915 501
				N/A
				
					
					
				
				3820000.00
				NC
				
				4535665.46
				1.3202362780482
				Long
				DFE
				
				XX
				
				N
				
				2
				
					
						
							MORGAN STANLEY & COMPANY LLC
							N/A
						
						4535665.46
						USD
						3820000.00
						EUR
						2021-09-15
						12465.66
					
				
				
					N
					N
					N
				
			
			
				49C1IRU4C0U5EJE3_1071200_S
				N/A
				JPY/USD FWD 20210915 50
				N/A
				
					
					
				
				-1503265985.00
				NC
				
				-13707777.51
				-3.9900440893882
				Short
				DFE
				
				JP
				
				N
				
				2
				
					
						
							MORGAN STANLEY & COMPANY LLC
							N/A
						
						1503265985.00
						JPY
						13707777.51
						USD
						2021-09-15
						30775.70
					
				
				
					N
					N
					N
				
			
			
				5KJBMA93Q2NKC5O1_1071200_S
				N/A
				NOK/USD FWD 20210915 00418
				N/A
				
					
					
				
				-138043782.00
				NC
				
				-15626808.35
				-4.5486333760111
				Short
				DFE
				
				NO
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						138043782.00
						NOK
						15626808.35
						USD
						2021-09-15
						1075801.06
					
				
				
					N
					N
					N
				
			
			
				29RKRMSHDHNFFM0H_1071200_L
				N/A
				NOK/USD FWD 20210915 50
				N/A
				
					
					
				
				6717000.00
				NC
				
				760376.67
				0.2213295653236
				Long
				DFE
				
				NO
				
				N
				
				2
				
					
						
							MORGAN STANLEY & COMPANY LLC
							N/A
						
						760376.67
						USD
						6717000.00
						NOK
						2021-09-15
						530.74
					
				
				
					N
					N
					N
				
			
			
				L02BOCH1GN6704LN_1071200_S
				N/A
				CAD/USD FWD 20210915 50
				N/A
				
					
					
				
				-26138513.00
				NC
				
				-20950711.37
				-6.0983089351549
				Short
				DFE
				
				CA
				
				N
				
				2
				
					
						
							MORGAN STANLEY & COMPANY LLC
							N/A
						
						26138513.00
						CAD
						20950711.37
						USD
						2021-09-15
						631602.51
					
				
				
					N
					N
					N
				
			
			
				8OKF6V2LGBM5LJ4H_1071200_S
				N/A
				CHF/USD FWD 20210915 00005
				N/A
				
					
					
				
				-908000.00
				NC
				
				-1003566.39
				-0.2921169489223
				Short
				DFE
				
				CH
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						908000.00
						CHF
						1003566.39
						USD
						2021-09-15
						-10406.94
					
				
				
					N
					N
					N
				
			
			
				BBG010PVS5J0
				N/A
				SCV1P    3700 PIT
				N/A
				
					
					
				
				-313.00
				NC
				USD
				-494540.00
				-0.1439501336031
				Short
				DE
				
				US
				
				N
				
				1
				
					
						
							MORGAN STANLEY & COMPANY LLC
							N/A
						
						Put
						Written
						
							
								CASHUSD
								CASHUSD
								
									
								
							
						
						50.00
						3700.00
						USD
						2021-10-29
						XXXX
						14253.69
					
				
				
					N
					N
					N
				
			
			
				LTK962BNUFGJMNTC_1071200_L
				N/A
				GBP/USD FWD 20210915 00418
				N/A
				
					
					
				
				2490000.00
				NC
				
				3461503.21
				1.0075703675073
				Long
				DFE
				
				GB
				
				N
				
				2
				
					
						
							CITIGROUP GLOBAL MARKETS INC
							N/A
						
						3461503.21
						USD
						2490000.00
						GBP
						2021-09-15
						-21681.59
					
				
				
					N
					N
					N
				
			
			
				4JNRO722K7KD8V9U_1071200_S
				N/A
				AUD/USD FWD 20210915 00005
				N/A
				
					
					
				
				-13164874.00
				NC
				
				-9663302.00
				-2.8127828162476
				Short
				DFE
				
				AU
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						13164874.00
						AUD
						9663302.00
						USD
						2021-09-15
						116994.44
					
				
				
					N
					N
					N
				
			
			
				5U63Q4HKPEOGNNA1_1071200_S
				N/A
				NZD/USD FWD 20210915 00005
				N/A
				
					
					
				
				-1769000.00
				NC
				
				-1232228.32
				-0.3586756001405
				Short
				DFE
				
				NZ
				
				N
				
				2
				
					
						
							GOLDMAN SACHS & CO
							N/A
						
						1769000.00
						NZD
						1232228.32
						USD
						2021-09-15
						-7174.59
					
				
				
					N
					N
					N
				
			
			
				BBG010PVSF53
				N/A
				SCV1P    4190 PIT
				N/A
				
					
					
				
				157.00
				NC
				USD
				704145.00
				0.2049617155861
				Long
				DE
				
				US
				
				N
				
				1
				
					
						
							MORGAN STANLEY & COMPANY LLC
							N/A
						
						Put
						Purchased
						
							
								CASHUSD
								CASHUSD
								
									
								
							
						
						50.00
						4190.00
						USD
						2021-10-29
						XXXX
						10328.79
					
				
				
					N
					N
					N
				
			
			
				DREYFUS INSTITUTIONAL PREFERRE
				549300RBWL04JG8SIX57
				Dreyfus Institutional Preferred Government Plus Money Market Fund
				N/A
				
					
					
				
				33689711.57
				OU
				Other Units
				USD
				33689711.57
				9.8063624409581
				Long
				STIV
				RF
				US
				
				N
				
				1
				
					2099-12-01
					Variable
					0.05358
					N
					N
					N
				
				
					N
					N
					N
				
			
			
				NGZ1 21 COMDTY
				N/A
				NATURAL GAS FUTR DEC21
				N/A
				
					
					
				
				15.00
				NC
				USD
				612750.00
				0.1783585642522
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								NGZ1 21 COMDTY_REF
								NATURAL GAS FUTR DEC21
								
									
									
									
								
							
						
						2021-11-26
						612750.00
						USD
						31830.84
					
				
				
					N
					N
					N
				
			
			
				BOZ1 COMDTY
				N/A
				SOYBEAN OIL FUTR DEC21
				N/A
				
					
					
				
				77.00
				NC
				USD
				2912448.00
				0.8477520093664
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								BOZ1 COMDTY_REF
								SOYBEAN OIL FUTR DEC21
								
									
									
									
								
							
						
						2021-12-14
						2912448.00
						USD
						-66022.59
					
				
				
					N
					N
					N
				
			
			
				KWZ1 COMDTY
				N/A
				KC HRW WHEAT FUT DEC21
				N/A
				
					
					
				
				-23.00
				NC
				USD
				-786887.50
				-0.2290463071856
				Short
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								KWZ1 COMDTY_REF
								KC HRW WHEAT FUT DEC21
								
									
									
									
								
							
						
						2021-12-14
						-786887.50
						USD
						-97435.82
					
				
				
					N
					N
					N
				
			
			
				PAU1 COMDTY
				N/A
				PALLADIUM FUTURE SEP21
				N/A
				
					
					
				
				-4.00
				NC
				USD
				-1062480.00
				-0.3092654546662
				Short
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								PAU1 COMDTY_REF
								PALLADIUM FUTURE SEP21
								
									
									
									
								
							
						
						2021-09-28
						-1062480.00
						USD
						40439.33
					
				
				
					N
					N
					N
				
			
			
				PLV1 COMDTY
				N/A
				PLATINUM FUTURE OCT21
				N/A
				
					
					
				
				32.00
				NC
				USD
				1677440.00
				0.488267303173
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								PLV1 COMDTY_REF
								PLATINUM FUTURE OCT21
								
									
									
									
								
							
						
						2021-10-27
						1677440.00
						USD
						-120893.42
					
				
				
					N
					N
					N
				
			
			
				C Z1 COMDTY
				N/A
				CORN FUTURE DEC21
				N/A
				
					
					
				
				82.00
				NC
				USD
				2235525.00
				0.6507140421868
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								C Z1 COMDTY_REF
								CORN FUTURE DEC21
								
									
									
									
								
							
						
						2021-12-14
						2235525.00
						USD
						18931.80
					
				
				
					N
					N
					N
				
			
			
				HGU1 COMDTY
				N/A
				COPPER FUTURE SEP21
				N/A
				
					
					
				
				11.00
				NC
				USD
				1232687.50
				0.3588092577261
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								HGU1 COMDTY_REF
								COPPER FUTURE SEP21
								
									
									
									
								
							
						
						2021-09-28
						1232687.50
						USD
						19391.07
					
				
				
					N
					N
					N
				
			
			
				LHZ1 COMDTY
				N/A
				LEAN HOGS FUTURE DEC21
				N/A
				
					
					
				
				-7.00
				NC
				USD
				-228620.00
				-0.066546446282
				Short
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								LHZ1 COMDTY_REF
								LEAN HOGS FUTURE DEC21
								
									
									
									
								
							
						
						2021-12-14
						-228620.00
						USD
						6954.47
					
				
				
					N
					N
					N
				
			
			
				S X1 COMDTY
				N/A
				SOYBEAN FUTURE NOV21
				N/A
				
					
					
				
				-6.00
				NC
				USD
				-404775.00
				-0.1178214407918
				Short
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								S X1 COMDTY_REF
								SOYBEAN FUTURE NOV21
								
									
									
									
								
							
						
						2021-11-12
						-404775.00
						USD
						2407.75
					
				
				
					N
					N
					N
				
			
			
				KCZ1 COMDTY
				N/A
				COFFEE 'C' FUTURE DEC21
				N/A
				
					
					
				
				-9.00
				NC
				USD
				-615768.75
				-0.1792372585253
				Short
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								KCZ1 COMDTY_REF
								COFFEE 'C' FUTURE DEC21
								
									
									
									
								
							
						
						2021-12-20
						-615768.75
						USD
						40838.57
					
				
				
					N
					N
					N
				
			
			
				XBZ1 COMDTY
				N/A
				GASOLINE RBOB FUT DEC21
				N/A
				
					
					
				
				12.00
				NC
				USD
				1059811.20
				0.308488623436
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								XBZ1 COMDTY_REF
								GASOLINE RBOB FUT DEC21
								
									
									
									
								
							
						
						2021-11-30
						1059811.20
						USD
						84684.75
					
				
				
					N
					N
					N
				
			
			
				HOZ1 COMDTY
				N/A
				NY HARB ULSD FUT DEC21
				N/A
				
					
					
				
				-1.00
				NC
				USD
				-92047.20
				-0.0267929929586
				Short
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								HOZ1 COMDTY_REF
								NY HARB ULSD FUT DEC21
								
									
									
									
								
							
						
						2021-11-30
						-92047.20
						USD
						-611.17
					
				
				
					N
					N
					N
				
			
			
				CLZ1 COMDTY
				N/A
				WTI CRUDE FUTURE DEC21
				N/A
				
					
					
				
				29.00
				NC
				USD
				2075530.00
				0.6041428818644
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								CLZ1 COMDTY_REF
								WTI CRUDE FUTURE DEC21
								
									
									
									
								
							
						
						2021-11-19
						2075530.00
						USD
						34656.00
					
				
				
					N
					N
					N
				
			
			
				SMZ1 COMDTY
				N/A
				SOYBEAN MEAL FUTR DEC21
				N/A
				
					
					
				
				-28.00
				NC
				USD
				-990920.00
				-0.2884358522869
				Short
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								SMZ1 COMDTY_REF
								SOYBEAN MEAL FUTR DEC21
								
									
									
									
								
							
						
						2021-12-14
						-990920.00
						USD
						43670.59
					
				
				
					N
					N
					N
				
			
			
				W Z1 COMDTY
				N/A
				WHEAT FUTURE(CBT) DEC21
				N/A
				
					
					
				
				-88.00
				NC
				USD
				-3137200.00
				-0.9131725626635
				Short
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								W Z1 COMDTY_REF
								WHEAT FUTURE(CBT) DEC21
								
									
									
									
								
							
						
						2021-12-14
						-3137200.00
						USD
						-371936.79
					
				
				
					N
					N
					N
				
			
			
				GCV1 COMDTY
				N/A
				GOLD 100 OZ FUTR OCT21
				N/A
				
					
					
				
				18.00
				NC
				USD
				3266100.00
				0.9506926262002
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								GCV1 COMDTY_REF
								GOLD 100 OZ FUTR OCT21
								
									
									
									
								
							
						
						2021-10-27
						3266100.00
						USD
						38604.84
					
				
				
					N
					N
					N
				
			
			
				QSX1 COMDTY
				N/A
				LOW SU GASOIL G NOV21
				N/A
				
					
					
				
				13.00
				NC
				USD
				795925.00
				0.2316769322765
				Long
				DCO
				
				GB
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								QSX1 COMDTY_REF
								LOW SU GASOIL G NOV21
								
									
									
									
								
							
						
						2021-11-11
						795925.00
						USD
						9400.95
					
				
				
					N
					N
					N
				
			
			
				CCZ1 COMDTY
				N/A
				COCOA FUTURE DEC21
				N/A
				
					
					
				
				58.00
				NC
				USD
				1404760.00
				0.4088959228379
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								CCZ1 COMDTY_REF
								COCOA FUTURE DEC21
								
									
									
									
								
							
						
						2021-12-15
						1404760.00
						USD
						36302.39
					
				
				
					N
					N
					N
				
			
			
				COF2 COMDTY
				N/A
				BRENT CRUDE FUTR JAN22
				N/A
				
					
					
				
				35.00
				NC
				USD
				2557800.00
				0.7445214779997
				Long
				DCO
				
				GB
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								COF2 COMDTY_REF
								BRENT CRUDE FUTR JAN22
								
									
									
									
								
							
						
						2021-11-30
						2557800.00
						USD
						222602.50
					
				
				
					N
					N
					N
				
			
			
				SBV1 COMDTY
				N/A
				SUGAR #11 (WORLD) OCT21
				N/A
				
					
					
				
				44.00
				NC
				USD
				882604.80
				0.2569075886252
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								SBV1 COMDTY_REF
								SUGAR #11 (WORLD) OCT21
								
									
									
									
								
							
						
						2021-09-30
						882604.80
						USD
						-29001.99
					
				
				
					N
					N
					N
				
			
			
				LCV1 COMDTY
				N/A
				LIVE CATTLE FUTR OCT21
				N/A
				
					
					
				
				7.00
				NC
				USD
				356160.00
				0.1036706425851
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								LCV1 COMDTY_REF
								LIVE CATTLE FUTR OCT21
								
									
									
									
								
							
						
						2021-10-29
						356160.00
						USD
						7097.30
					
				
				
					N
					N
					N
				
			
			
				SIU1 COMDTY
				N/A
				SILVER FUTURE SEP21
				N/A
				
					
					
				
				-3.00
				NC
				USD
				-383205.00
				-0.1115428700355
				Short
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								SIU1 COMDTY_REF
								SILVER FUTURE SEP21
								
									
									
									
								
							
						
						2021-09-28
						-383205.00
						USD
						-5358.36
					
				
				
					N
					N
					N
				
			
			
				CTZ1 COMDTY
				N/A
				COTTON NO.2 FUTR DEC21
				N/A
				
					
					
				
				49.00
				NC
				USD
				2190055.00
				0.6374786869578
				Long
				DCO
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								CTZ1 COMDTY_REF
								COTTON NO.2 FUTR DEC21
								
									
									
									
								
							
						
						2021-12-08
						2190055.00
						USD
						7161.80
					
				
				
					N
					N
					N
				
			
			
				HIQ1 INDEX
				N/A
				HANG SENG IDX FUT AUG21
				N/A
				
					
					
				
				-64.00
				NC
				
				-10663852.84
				-3.1040220023492
				Short
				DE
				
				HK
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								HIQ1 INDEX_REF
								HANG SENG IDX FUT AUG21
								
									
									
									
								
							
						
						2021-08-30
						-82870400.00
						HKD
						-17905.41
					
				
				
					N
					N
					N
				
			
			
				EOQ1 INDEX
				N/A
				AMSTERDAM IDX FUT AUG21
				N/A
				
					
					
				
				-17.00
				NC
				
				-3029938.73
				-0.8819510757324
				Short
				DE
				
				NL
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								EOQ1 INDEX_REF
								AMSTERDAM IDX FUT AUG21
								
									
									
									
								
							
						
						2021-08-20
						-2554216.00
						EUR
						-13739.35
					
				
				
					N
					N
					N
				
			
			
				STU1 INDEX
				N/A
				FTSE/MIB IDX FUT SEP21
				N/A
				
					
					
				
				6.00
				NC
				
				902392.24
				0.2626672938698
				Long
				DE
				
				IT
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								STU1 INDEX_REF
								FTSE/MIB IDX FUT SEP21
								
									
									
									
								
							
						
						2021-09-17
						760710.00
						EUR
						51520.97
					
				
				
					N
					N
					N
				
			
			
				MESU1 INDEX
				N/A
				MSCI EMGMKT SEP21
				N/A
				
					
					
				
				104.00
				NC
				USD
				6644040.00
				1.9339395107864
				Long
				DE
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								MESU1 INDEX_REF
								MSCI EMGMKT SEP21
								
									
									
									
								
							
						
						2021-09-17
						6644040.00
						USD
						-463659.75
					
				
				
					N
					N
					N
				
			
			
				XPU1 INDEX
				N/A
				SPI 200 FUTURES SEP21
				N/A
				
					
					
				
				30.00
				NC
				
				4017828.75
				1.1695049649308
				Long
				DE
				
				AU
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								XPU1 INDEX_REF
								SPI 200 FUTURES SEP21
								
									
									
									
								
							
						
						2021-09-16
						5475000.00
						AUD
						17485.65
					
				
				
					N
					N
					N
				
			
			
				RXU1 COMDTY
				N/A
				EURO-BUND FUTURE SEP21
				N/A
				
					
					
				
				-608.00
				NC
				
				-127349346.80
				-37.0687011892419
				Short
				DIR
				
				DE
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								RXU1 COMDTY_REF
								EURO-BUND FUTURE SEP21
								
									
									
									
								
							
						
						2021-09-08
						-107354560.00
						EUR
						-3056175.09
					
				
				
					N
					N
					N
				
			
			
				IBQ1 INDEX
				N/A
				IBEX 35 INDX FUTR AUG21
				N/A
				
					
					
				
				-67.00
				NC
				
				-6894543.13
				-2.0068556733446
				Short
				DE
				
				ES
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								IBQ1 INDEX_REF
								IBEX 35 INDX FUTR AUG21
								
									
									
									
								
							
						
						2021-08-20
						-5812049.00
						EUR
						25579.36
					
				
				
					N
					N
					N
				
			
			
				CFQ1 INDEX
				N/A
				CAC40 10 EURO FUT AUG21
				N/A
				
					
					
				
				75.00
				NC
				
				5880389.53
				1.7116570115294
				Long
				DE
				
				FR
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								CFQ1 INDEX_REF
								CAC40 10 EURO FUT AUG21
								
									
									
									
								
							
						
						2021-08-20
						4957125.00
						EUR
						6995.28
					
				
				
					N
					N
					N
				
			
			
				JBU1 COMDTY
				N/A
				JPN 10Y BOND(OSE) SEP21
				N/A
				
					
					
				
				63.00
				NC
				
				87460917.92
				25.4580232531926
				Long
				DIR
				
				JP
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								JBU1 COMDTY_REF
								JPN 10Y BOND(OSE) SEP21
								
									
									
									
								
							
						
						2021-09-13
						9594900000.00
						JPY
						133027.11
					
				
				
					N
					N
					N
				
			
			
				RTYU1 INDEX
				N/A
				E-MINI RUSS 2000 SEP21
				N/A
				
					
					
				
				76.00
				NC
				USD
				8442080.00
				2.4573109230559
				Long
				DE
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								RTYU1 INDEX_REF
								E-MINI RUSS 2000 SEP21
								
									
									
									
								
							
						
						2021-09-17
						8442080.00
						USD
						-319532.12
					
				
				
					N
					N
					N
				
			
			
				XMU1 COMDTY
				N/A
				AUST 10Y BOND FUT SEP21
				N/A
				
					
					
				
				886.00
				NC
				
				94536244.99
				27.5175013075707
				Long
				DIR
				
				AU
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								XMU1 COMDTY_REF
								AUST 10Y BOND FUT SEP21
								
									
									
									
								
							
						
						2021-09-15
						128822300.18
						AUD
						2216493.19
					
				
				
					N
					N
					N
				
			
			
				Z U1 INDEX
				N/A
				FTSE 100 IDX FUT SEP21
				N/A
				
					
					
				
				738.00
				NC
				
				71463750.30
				20.8015861274389
				Long
				DE
				
				GB
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								Z U1 INDEX_REF
								FTSE 100 IDX FUT SEP21
								
									
									
									
								
							
						
						2021-09-17
						51412770.00
						GBP
						135437.78
					
				
				
					N
					N
					N
				
			
			
				TYU1 COMDTY
				N/A
				US 10YR NOTE (CBT)SEP21
				N/A
				
					
					
				
				1722.00
				NC
				USD
				231528289.86
				67.3929879448468
				Long
				DIR
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								TYU1 COMDTY_REF
								US 10YR NOTE (CBT)SEP21
								
									
									
									
								
							
						
						2021-09-21
						231528289.86
						USD
						3351552.12
					
				
				
					N
					N
					N
				
			
			
				ESU1 INDEX
				N/A
				S&P500 EMINI FUT SEP21
				N/A
				
					
					
				
				355.00
				NC
				USD
				77913625.00
				22.6790082263354
				Long
				DE
				
				US
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								ESU1 INDEX_REF
								S&P500 EMINI FUT SEP21
								
									
									
									
								
							
						
						2021-09-17
						77913625.00
						USD
						547401.96
					
				
				
					N
					N
					N
				
			
			
				TPU1 INDEX
				N/A
				TOPIX INDX FUTR SEP21
				N/A
				
					
					
				
				283.00
				NC
				
				49142245.11
				14.3042681059992
				Long
				DE
				
				JP
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								TPU1 INDEX_REF
								TOPIX INDX FUTR SEP21
								
									
									
									
								
							
						
						2021-09-09
						5391150000.00
						JPY
						-721287.93
					
				
				
					N
					N
					N
				
			
			
				GXU1 INDEX
				N/A
				DAX INDEX FUTURE SEP21
				N/A
				
					
					
				
				51.00
				NC
				
				23517376.59
				6.8454108911816
				Long
				DE
				
				DE
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								GXU1 INDEX_REF
								DAX INDEX FUTURE SEP21
								
									
									
									
								
							
						
						2021-09-17
						19824975.00
						EUR
						35070.91
					
				
				
					N
					N
					N
				
			
			
				G U1 COMDTY
				N/A
				LONG GILT FUTURE SEP21
				N/A
				
					
					
				
				-430.00
				NC
				
				-77575483.00
				-22.5805822424376
				Short
				DIR
				
				GB
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								G U1 COMDTY_REF
								LONG GILT FUTURE SEP21
								
									
									
									
								
							
						
						2021-09-28
						-55809700.00
						GBP
						-1000326.82
					
				
				
					N
					N
					N
				
			
			
				SMU1 INDEX
				N/A
				SWISS MKT IX FUTR SEP21
				N/A
				
					
					
				
				-252.00
				NC
				
				-33661202.19
				-9.798063963464
				Short
				DE
				
				DE
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								SMU1 INDEX_REF
								SWISS MKT IX FUTR SEP21
								
									
									
									
								
							
						
						2021-09-17
						-30492000.00
						CHF
						-464305.75
					
				
				
					N
					N
					N
				
			
			
				CNU1 COMDTY
				N/A
				CAN 10YR BOND FUT SEP21
				N/A
				
					
					
				
				455.00
				NC
				
				53979280.22
				15.7122267146605
				Long
				DIR
				
				CA
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Long
						
							
								CNU1 COMDTY_REF
								CAN 10YR BOND FUT SEP21
								
									
									
									
								
							
						
						2021-09-21
						67344550.00
						CAD
						727551.78
					
				
				
					N
					N
					N
				
			
			
				PTU1 INDEX
				N/A
				S&P/TSX 60 IX FUT SEP21
				N/A
				
					
					
				
				-30.00
				NC
				
				-5830714.97
				-1.6971977978183
				Short
				DE
				
				CA
				
				N
				
				1
				
					
						
							N/A
							N/A
						
						Short
						
							
								PTU1 INDEX_REF
								S&P/TSX 60 IX FUT SEP21
								
									
									
									
								
							
						
						2021-09-16
						-7274400.00
						CAD
						-20129.68
					
				
				
					N
					N
					N
				
			
		
		
			2021-09-27
			BNY Mellon Advantage Funds, Inc.
			James Windels
			James Windels
			Fund Treasurer
		
	
	XXXX



STATEMENT OF INVESTMENTS
BNY Mellon Dynamic Total Return Fund

July 31, 2021 (Unaudited)

          
 

Description

Coupon
Rate (%)

 

Maturity

Date

 

Principal

Amount ($)

 

Value ($)

 

Options Purchased - .5%

     

Call Options - .3%

     

Standard & Poor's 500 E-mini, Contracts 177

 

4,380

 

9/17/2021

 

19,272,000

 

859,335

 

Put Options - .2%

     

Standard & Poor's 500 E-mini, Contracts 157

 

4,190

 

10/29/2021

 

32,891,500

 

704,145

 

Total Options Purchased
(cost $1,387,086)

 

1,563,480

 

Description

Annualized
Yield (%)

 

 Maturity Date

 

Principal Amount ($)

 

Value ($)

 

Short-Term Investments - 87.6%

     

U.S. Government Securities

     

U.S. Treasury Bills

 

0.04

 

9/30/2021

 

86,596,100

a 

86,590,069

 

U.S. Treasury Bills

 

0.06

 

5/19/2022

 

25,448,000

a 

25,436,213

 

U.S. Treasury Bills

 

0.02

 

11/18/2021

 

6,000,000

a,b 

5,999,185

 

U.S. Treasury Bills

 

0.02

 

12/2/2021

 

50,000

a 

49,992

 

U.S. Treasury Bills

 

0.01

 

8/19/2021

 

79,888,400

a 

79,887,174

 

U.S. Treasury Bills

 

0.01

 

9/16/2021

 

103,173,500

a,b 

103,168,663

 

Total Short-Term Investments
(cost $301,133,708)

 

301,131,296

 

Description

1-Day
Yield (%)

   

Shares

 

Value ($)

 

Investment Companies - 9.8%

     

Registered Investment Companies - 9.8%

     

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares
(cost $33,689,712)

 

0.05

   

33,689,712

c 

33,689,712

 

Total Investments (cost $336,210,506)

 

97.9%

336,384,488

 

Cash and Receivables (Net)

 

2.1%

7,165,037

 

Net Assets

 

100.0%

343,549,525

 

a Security is a discount security. Income is recognized through the accretion of discount.

b These securities are wholly-owned by the Subsidiary referenced in Note 1.

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.


STATEMENT OF INVESTMENTS
BNY Mellon Dynamic Total Return Fund

July 31, 2021 (Unaudited)

The following is a summary of the inputs used as of July 31, 2021 in valuing the fund’s investments:

      
 

Level 1 - Unadjusted Quoted Prices

Level 2 - Other Significant Observable Inputs

 

Level 3 -Significant Unobservable Inputs

Total

Assets ($)

 

 

 

 

 

Investments in Securities:

 

 

 

 

 

Investment Companies

33,689,712

-

 

-

33,689,712

U.S. Treasury Securities

-

301,131,296

 

-

301,131,296

Other Financial Instruments:

     

Forward Foreign Currency Exchange Contracts††

-

4,095,259

 

-

4,095,259

Futures††

6,447,876

-

 

-

6,447,876

Options Purchased

1,563,480

-

 

-

1,563,480

Liabilities ($)

     

Other Financial Instruments:

 

 

 

 

 

Forward Foreign Currency Exchange Contracts††

-

(2,544,668)

 

-

(2,544,668)

Futures††

(5,466,026)

-

 

-

(5,466,026)

Options Written

(1,129,605)

-

 

-

(1,129,605)

See Statement of Investments for additional detailed categorizations, if any.

†† Amount shown represents unrealized appreciation (depreciation) at period end.


STATEMENT OF FUTURES
BNY Mellon Dynamic Total Return Fund

July 31, 2021 (Unaudited)

       

Description

Number of
Contracts

Expiration

Notional
Value ($)

Market
Value ($)

Unrealized Appreciation (Depreciation) ($)

 

Futures Long

  

ASX SPI 200

21

9/16/2021

2,802,150a

2,812,480

10,330

 

Australian 10 Year Bond

778

9/15/2021

81,089,888a

83,012,640

1,922,752

 

Brent Crude

33

11/30/2021

2,202,293b

2,411,640

209,347

 

CAC 40 10 Euro

75

8/20/2021

5,873,395a

5,880,390

6,995

 

Canadian 10 year Bond

455

9/21/2021

53,251,728a

53,979,280

727,552

 

Cocoa

58

12/15/2021

1,368,458b

1,404,760

36,302

 

Copper

9

9/28/2021

982,047b

1,008,563

26,516

 

Corn No.2 Yellow

82

12/14/2021

2,216,593b

2,235,525

18,932

 

Cotton No.2

49

12/8/2021

2,182,893b

2,190,055

7,162

 

Crude Oil

29

11/19/2021

2,040,874b

2,075,530

34,656

 

Crude Soybean Oil

77

12/14/2021

2,978,471b

2,912,448

(66,023)

 

DAX

51

9/17/2021

23,482,306a

23,517,377

35,071

 

E-mini Russell 2000

76

9/17/2021

8,761,612

8,442,080

(319,532)

 

FTSE 100

782

9/17/2021

75,588,381a

75,724,462

136,081

 

FTSE/MIB Index

6

9/17/2021

850,871a

902,392

51,521

 

Gasoline

12

11/30/2021

975,126b

1,059,811

84,685

 

Gold 100 oz

17

10/27/2021

3,051,510b

3,084,650

33,140

 

Japanese 10 Year Bond

59

9/13/2021

81,799,228a

81,907,844

108,616

 

Live Cattle

7

10/29/2021

349,063b

356,160

7,097

 

LME Primary Aluminum

18

12/15/2021

1,123,117b

1,163,025

39,908

 

LME Primary Nickel

2

12/15/2021

220,254b

234,594

14,340

 

LME Refined Pig Lead

2

12/15/2021

114,556b

118,500

3,944

 

LME Zinc

4

12/15/2021

295,212b

303,000

7,788

 

Low Sulphur Gas oil

13

12/10/2021

790,758b

790,725

(33)

 

Mini MSCI Emerging Markets Index

104

9/17/2021

7,107,700

6,644,040

(463,660)

 

Natural Gas

15

11/26/2021

580,919b

612,750

31,831

 

Platinum

41

10/27/2021

2,270,418b

2,149,220

(121,198)

 

Standard & Poor's 500 E-mini

345

9/17/2021

75,251,748

75,718,875

467,127

 

Sugar No.11

44

9/30/2021

911,607b

882,605

(29,002)

 

Topix

283

9/9/2021

49,863,533a

49,142,245

(721,288)

 

U.S. Treasury 10 Year Notes

1,407

9/21/2021

186,936,155

189,175,554

2,239,399

 

Futures Short

  

Amsterdam Exchange Index

36

8/20/2021

6,408,174a

6,416,341

(8,167)

 

Chicago SRW Wheat

83

12/14/2021

2,607,807b

2,958,950

(351,143)

 

Coffee "C"

9

12/20/2021

656,608b

615,769

40,839

 


STATEMENT OF FUTURES (Unaudited) (continued)

       

Description

Number of
Contracts

Expiration

Notional
Value ($)

Market
Value ($)

Unrealized Appreciation (Depreciation) ($)

 

Futures Short (continued)

  

Euro-Bond

398

9/8/2021

81,575,632a

83,363,553

(1,787,921)

 

Hang Seng

103

8/30/2021

17,185,598a

17,162,138

23,460

 

Hard Red Winter Wheat

23

12/14/2021

689,452b

786,888

(97,436)

 

IBEX 35 Index

44

8/20/2021

4,556,821a

4,527,760

29,061

 

Lean Hog

7

12/14/2021

235,574b

228,620

6,954

 

Long Gilt

430

9/28/2021

76,575,156a

77,575,483

(1,000,327)

 

NY Harbor ULSD

1

11/30/2021

91,436b

92,047

(611)

 

NYMEX Palladium

5

9/28/2021

1,368,491b

1,328,100

40,391

 

S&P/Toronto Stock Exchange 60 Index

45

9/16/2021

8,719,305a

8,746,072

(26,767)

 

Silver

3

9/28/2021

377,847b

383,205

(5,358)

 

Soybean

6

11/12/2021

407,183b

404,775

2,408

 

Soybean Meal

28

12/14/2021

1,034,591b

990,920

43,671

 

Swiss Market Index

307

9/17/2021

40,540,300a

41,007,893

(467,593)

 

Gross Unrealized Appreciation

 

6,447,876

 

Gross Unrealized Depreciation

 

(5,466,059)

 

a Notional amounts in foreign currency have been converted to USD using relevant foreign exchange rates.

b These securities are wholly-owned by the Subsidiary referenced in Note 1.

See notes to consolidated financial statements.


STATEMENT OF OPTIONS WRITTEN
BNY Mellon Dynamic Total Return Fund

July 31, 2021 (Unaudited)

       

Description/ Contracts/ Counterparties

Exercise Price

Expiration Date

Notional Amount

 

Value ($)

 

Call Options:

      

Standard & Poor's 500 E-mini,
Contracts 157

4,350

8/20/2021

34,147,500

 

(635,065)

 

Put Options:

      

Standard & Poor's 500 E-mini,
Contracts 313

3,700

10/29/2021

57,905,000

 

(494,540)

 

Total Options Written

(premiums received $734,262)

   

(1,129,605)

 

See notes to consolidated financial statements.


STATEMENT OF FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS
BNY Mellon Dynamic Total Return Fund

July 31, 2021 (Unaudited)

      

Counterparty/ Purchased
Currency

Purchased Currency
Amounts

Currency
Sold

Sold
Currency
Amounts

Settlement Date

Unrealized Appreciation (Depreciation) ($)

Citigroup

United States Dollar

1,665,559

Australian Dollar

2,248,000

9/15/2021

15,478

Norwegian Krone

21,430,000

United States Dollar

2,447,984

9/15/2021

(22,069)

United States Dollar

16,702,609

Norwegian Krone

138,043,782

9/15/2021

1,075,801

Canadian Dollar

7,320,000

United States Dollar

5,915,409

9/15/2021

(48,235)

United States Dollar

2,109,354

Canadian Dollar

2,622,000

9/15/2021

7,751

Swedish Krona

156,233,085

United States Dollar

18,903,844

9/15/2021

(748,294)

New Zealand Dollar

2,241,000

United States Dollar

1,570,795

9/15/2021

(9,787)

United States Dollar

12,237,106

New Zealand Dollar

17,256,183

9/15/2021

217,006

Swiss Franc

4,159,000

United States Dollar

4,618,835

9/15/2021

(22,103)

United States Dollar

4,778,204

Swiss Franc

4,402,000

9/15/2021

(87,104)

British Pound

2,490,000

United States Dollar

3,483,185

9/15/2021

(21,682)

United States Dollar

3,012,147

British Pound

2,182,000

9/15/2021

(21,186)

Euro

36,942,000

United States Dollar

43,858,487

9/15/2021

4,485

United States Dollar

60,351,274

Euro

49,464,365

9/15/2021

1,619,910

Australian Dollar

9,000,000

United States Dollar

6,902,764

9/15/2021

(296,569)

United States Dollar

6,810,741

Australian Dollar

9,163,000

9/15/2021

84,901

Japanese Yen

524,517,000

United States Dollar

4,754,355

9/15/2021

28,539

United States Dollar

24,494,732

Japanese Yen

2,698,395,000

9/15/2021

(111,025)

Goldman Sachs

British Pound

28,094,651

United States Dollar

39,755,797

9/15/2021

(699,683)

United States Dollar

4,262,541

British Pound

3,103,000

9/15/2021

(51,131)

Japanese Yen

385,196,000

United States Dollar

3,522,662

9/15/2021

(10,189)


      

Counterparty/ Purchased
Currency

Purchased Currency
Amounts

Currency
Sold

Sold
Currency
Amounts

Settlement Date

Unrealized Appreciation (Depreciation) ($)

Goldman Sachs(continued)

United States Dollar

3,424,715

Japanese Yen

376,467,000

9/15/2021

(8,161)

Euro

14,215,000

United States Dollar

16,821,519

9/15/2021

56,618

Australian Dollar

1,946,000

United States Dollar

1,496,274

9/15/2021

(67,868)

United States Dollar

10,532,003

Australian Dollar

14,186,874

9/15/2021

118,531

New Zealand Dollar

4,494,000

United States Dollar

3,116,804

9/15/2021

13,571

United States Dollar

1,225,053

New Zealand Dollar

1,769,000

9/15/2021

(7,175)

Canadian Dollar

1,312,000

United States Dollar

1,028,769

9/15/2021

22,834

United States Dollar

939,342

Canadian Dollar

1,171,000

9/15/2021

754

United States Dollar

993,159

Swiss Franc

908,000

9/15/2021

(10,407)

Norwegian Krone

34,763,000

United States Dollar

3,928,913

9/15/2021

6,322

United States Dollar

2,306,333

Norwegian Krone

19,227,000

9/15/2021

129,802

HSBC

Japanese Yen

275,240,000

United States Dollar

2,500,227

9/15/2021

9,594

Swiss Franc

17,317,559

United States Dollar

19,364,806

9/15/2021

(224,586)

Morgan Stanley

Norwegian Krone

6,717,000

United States Dollar

759,846

9/15/2021

531

United States Dollar

13,738,553

Japanese Yen

1,503,265,985

9/15/2021

30,776

United States Dollar

737,558

British Pound

536,000

9/15/2021

(7,569)

Australian Dollar

4,878,000

United States Dollar

3,650,402

9/15/2021

(69,845)

United States Dollar

1,627,972

Australian Dollar

2,207,000

9/15/2021

7,986

United States Dollar

21,582,314

Canadian Dollar

26,138,513

9/15/2021

631,603

Euro

3,820,000

United States Dollar

4,523,199

9/15/2021

12,466

Gross Unrealized Appreciation

  

4,095,259

Gross Unrealized Depreciation

  

(2,544,668)

See notes to consolidated financial statements.


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

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

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

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

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

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

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

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

Registered investment companies that are not traded on an exchange are valued at their net asset value and are generally categorized within Level 1 of the fair value hierarchy.

Investments in debt securities, excluding short-term investments (other than U.S. Treasury Bills), financial futures, options and forward foreign currency exchange contracts (“forward contracts”) are valued each business day by one or more


independent pricing services (each, a “Service”) approved by the fund's Board (the “Board”). Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of a Service are valued at the mean between the quoted bid prices (as obtained by a Service from dealers in such securities) and asked prices (as calculated by a Service based upon its evaluation of the market for such securities). Securities are valued as determined by a Service, based on methods which include consideration of the following: yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. These securities are generally categorized within Level 2 of the fair value hierarchy.

U.S. Treasury Bills are valued at the mean price between quoted bid prices and asked prices by the Service. These securities are generally categorized within Level 2 of the fair value hierarchy.

Each Service and independent valuation firm is engaged under the general oversight of the Board.

When market quotations or official closing prices are not readily available, or are determined not to accurately reflect fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded (for example, a foreign exchange or market), but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.

For securities where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized within Level 3 of the fair value hierarchy.

Investments denominated in foreign currencies are translated to U.S. dollars at the prevailing rates of exchange.

Financial futures and options, which are traded on an exchange, are valued at the last sales price on the securities exchange on which such securities are primarily traded or at the last sales price on the national securities market on each business day and are generally categorized within Level 1 of the fair value hierarchy. Options traded over-the-counter (“OTC”) are valued at the mean between the bid and asked price and are generally categorized within Level 2 of the fair value hierarchy. Investments in swap transactions are valued each business day by the Service. Swaps 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. Forward contracts are valued at the forward rate and are generally categorized within Level 2 of the fair value hierarchy.

Derivatives: A derivative is a financial instrument whose performance is derived from the performance of another asset. Each type of derivative instrument that was held by the fund at July 31, 2021 is discussed below.

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.

Options Transactions: The fund purchases and writes (sells) put and call options to hedge against changes in the values of interest rates, foreign currencies, or as a substitute for an investment. The fund is subject to market riskinterest rate risk and currency risk in the course of pursuing its investment objectives through its investments in options contracts. A call option gives the purchaser of the option the right (but not the obligation) to buy, and obligates the writer to sell, the underlying financial instrument at the exercise price at any time during the option period, or at a specified date. Conversely, a put option gives the purchaser of the option the right (but not the obligation) to sell, and obligates the writer to buy the underlying financial instrument at the exercise price at any time during the option period, or at a specified date.

As a writer of call options, the fund receives a premium at the outset and then bears the market risk of unfavorable changes in the price of the financial instrument underlying the option. Generally, the fund realizes a gain, to the extent of the premium, if the price of the underlying financial instrument decreases between the date the option is written and the date on which the option is terminated. Generally, the fund incurs a loss if the price of the financial instrument increases between those dates. The maximum payout for those contracts is limited to the number of call option contracts written and the related strike prices, respectively.

As a writer of put options, the fund receives a premium at the outset and then bears the market risk of unfavorable changes in the price of the financial instrument underlying the option. Generally, the fund realizes a gain, to the extent of the premium, if the price of the underlying financial instrument increases between the date the option is written


and the date on which the option is terminated. Generally, the fund incurs a loss if the price of the financial instrument decreases between those dates. The maximum payout for those contracts is limited to the number of put option contracts written and the related strike prices, respectively.

As a writer of an option, the fund has no control over whether the underlying financial instrument may be sold (call) or purchased (put) and as a result bears the market risk of an unfavorable change in the price of the financial instrument underlying the written option. There is a risk of loss from a change in value of such options which may exceed the related premiums received. The Statement of Operations reflects any unrealized gains or losses which occurred during the period as well as any realized gains or losses which occurred upon the expiration or closing of the option transaction.

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 nonperformance on these forward contracts, which is generally limited to the unrealized gain on each open contract. This risk may be mitigated by Master Agreements, if any, between the fund and the counterparty and the posting of collateral, if any, by the counterparty to the fund to cover the fund’s exposure to the counterparty.

At July 31, 2021, accumulated net unrealized appreciation on investments was $173,982, consisting of $177,895 gross unrealized appreciation and $3,913 gross unrealized depreciation.

At July 31, 2021, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Statement of Investments).

Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the SEC on Form N-CSR.




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