STATEMENT
OF INVESTMENTS
BNY Mellon Municipal Income, Inc.
June 30, 2024 (Unaudited)
| | | | | | | | | | |
| |
Description
| Coupon
Rate (%) | | Maturity Date | | Principal Amount
($) | | Value
($) | |
Long-Term
Municipal Investments - 145.9% | | | | | |
Alabama - 3.4% | | | | | |
Black
Belt Energy Gas District, Revenue Bonds, Refunding (Gas Project) Ser. D1 | | 5.50 | | 2/1/2029 | | 2,320,000 | a | 2,463,083 | |
Jefferson County, Revenue Bonds, Refunding | | 5.25 | | 10/1/2049 | | 1,000,000 | | 1,071,946 | |
Jefferson County, Revenue Bonds, Refunding | | 5.50 | | 10/1/2053 | | 1,800,000 | | 1,952,248 | |
| | 5,487,277 | |
Alaska
- 1.3% | | | | | |
Northern Tobacco Securitization Corp., Revenue Bonds, Refunding,
Ser. A | | 4.00 | | 6/1/2050 | | 2,345,000 | | 2,116,720 | |
Arizona
- 5.6% | | | | | |
Arizona Industrial Development Authority, Revenue Bonds (Sustainable
Bond) (Equitable School Revolving Fund Obligated Group) Ser. A | | 4.00 | | 11/1/2050 | | 1,200,000 | | 1,112,070 | |
Arizona Industrial Development Authority, Revenue Bonds (Sustainable
Bond) (Equitable School Revolving Fund Obligated Group) Ser. A | | 4.00 | | 11/1/2045 | | 1,355,000 | | 1,297,512 | |
Glendale Industrial Development Authority, Revenue Bonds,
Refunding (Sun Health Services Obligated Group) Ser. A | | 5.00 | | 11/15/2054 | | 1,500,000 | | 1,446,320 | |
La Paz County Industrial Development Authority, Revenue Bonds
(Harmony Public Schools) Ser. A | | 5.00 | | 2/15/2046 | | 1,500,000 | b | 1,501,169 | |
La Paz County Industrial Development Authority, Revenue Bonds
(Harmony Public Schools) Ser. A | | 5.00 | | 2/15/2036 | | 1,100,000 | b | 1,110,132 | |
Salt Verde Financial Corp., Revenue Bonds | | 5.00 | | 12/1/2037 | | 2,190,000 | | 2,387,545 | |
| | 8,854,748 | |
California
- 8.1% | | | | | |
Golden State Tobacco Securitization Corp., Revenue Bonds,
Refunding (Tobacco Settlement Asset) Ser. B | | 5.00 | | 6/1/2051 | | 2,000,000 | | 2,073,370 | |
San Diego County Regional Airport Authority, Revenue Bonds,
Ser. B | | 5.00 | | 7/1/2051 | | 3,750,000 | | 3,894,994 | |
Tender Option Bond
Trust Receipts (Series 2022-XF3024), (San Francisco City & County, Revenue Bonds, Refunding, Ser.
A) Recourse, Underlying Coupon Rate 5.00% | | 7.02 | | 5/1/2044 | | 3,360,000 | b,c,d | 3,457,392 | |
Tender Option Bond Trust Receipts (Series 2023-XM1114), (Long
Beach Finance Authority, Revenue Bonds) Non-recourse, Underlying Coupon Rate 4.00% | | 3.38 | | 8/1/2053 | | 3,600,000 | b,c,d | 3,514,995 | |
| | 12,940,751 | |
Colorado
- 5.9% | | | | | |
Colorado Health Facilities Authority, Revenue Bonds, Refunding
(Covenant Living Communities & Services Obligated Group) Ser. A | | 4.00 | | 12/1/2050 | | 2,000,000 | | 1,765,582 | |
STATEMENT
OF INVESTMENTS (Unaudited) (continued)
| | | | | | | | | | |
| |
Description | Coupon
Rate (%) | | Maturity Date | | Principal Amount
($) | | Value
($) | |
Long-Term
Municipal Investments - 145.9% (continued) | | | | | |
Colorado
- 5.9% (continued) | | | | | |
Colorado High Performance
Transportation Enterprise, Revenue Bonds (C-470 Express Lanes System) | | 5.00 | | 12/31/2056 | | 3,000,000 | | 3,001,060 | |
Tender Option Bond Trust Receipts (Series 2020-XM0829), (Colorado
Health Facilities Authority, Revenue Bonds, Refunding (CommonSpirit Health Obligated Group) Ser. A1)
Recourse, Underlying Coupon Rate 4.00% | | 5.95 | | 8/1/2044 | | 1,645,000 | b,c,d | 1,925,825 | |
Tender Option Bond Trust Receipts (Series 2023-XM1124), (Colorado
Health Facilities Authority, Revenue Bonds (Adventist Health System/Sunbelt Obligated Group) Ser. A)
Recourse, Underlying Coupon Rate 4.00% | | 3.04 | | 11/15/2048 | | 2,770,000 | b,c,d | 2,651,168 | |
| | 9,343,635 | |
Delaware
- .7% | | | | | |
Delaware Economic Development Authority, Revenue Bonds (ACTS
Retirement-Life Communities Obligated Group) Ser. B | | 5.25 | | 11/15/2053 | | 1,000,000 | | 1,036,612 | |
Florida - 11.0% | | | | | |
Atlantic
Beach, Revenue Bonds (Fleet Landing Project) Ser. A | | 5.00 | | 11/15/2053 | | 1,500,000 | | 1,506,925 | |
Collier County Industrial Development Authority, Revenue
Bonds (NCH Healthcare System Project) (Insured; Assured Guaranty Municipal Corp.) Ser. A | | 5.00 | | 10/1/2054 | | 1,480,000 | | 1,565,790 | |
Florida Housing Finance
Corp., Revenue Bonds (Insured; GNMA, FNMA, FHLMC) Ser. 1 | | 4.40 | | 7/1/2044 | | 1,090,000 | | 1,095,382 | |
Greater Orlando Aviation Authority, Revenue Bonds, Ser. A | | 4.00 | | 10/1/2049 | | 1,380,000 | | 1,296,629 | |
Hillsborough County
Port District, Revenue Bonds (Tampa Port Authority Project) Ser. B | | 5.00 | | 6/1/2046 | | 1,450,000 | | 1,477,579 | |
Palm Beach County Health Facilities Authority, Revenue Bonds,
Refunding (Lifespace Communities Obligated Group) Ser. C | | 7.63 | | 5/15/2058 | | 1,000,000 | | 1,115,865 | |
Tender Option Bond Trust Receipts (Series 2023-XM1122), (Miami-Dade
FL County Water & Sewer System, Revenue Bonds, Refunding, Ser. B) Recourse, Underlying Coupon Rate
4.00% | | 3.37 | | 10/1/2049 | | 9,750,000 | b,c,d | 9,392,281 | |
| | 17,450,451 | |
Georgia - 6.0% | | | | | |
Georgia
Municipal Electric Authority, Revenue Bonds (Plant Vogtle Units 3&4 Project) Ser. A | | 5.00 | | 7/1/2052 | | 1,250,000 | | 1,306,096 | |
Main Street Natural
Gas, Revenue Bonds, Ser. A | | 5.00 | | 9/1/2031 | | 1,550,000 | a | 1,646,779 | |
Tender Option Bond Trust Receipts (Series 2020-XM0825), (Brookhaven
Development Authority, Revenue Bonds (Children's Healthcare of Atlanta) Ser. A) Recourse, Underlying
Coupon Rate 4.00% | | 4.33 | | 7/1/2044 | | 2,660,000 | b,c,d | 2,813,269 | |
| | | | | | | | | | |
| |
Description | Coupon
Rate (%) | | Maturity Date | | Principal Amount
($) | | Value
($) | |
Long-Term
Municipal Investments - 145.9% (continued) | | | | | |
Georgia
- 6.0% (continued) | | | | | |
Tender Option Bond
Trust Receipts (Series 2023-XF3183), (Municipal Electric Authority of Georgia, Revenue Bonds (Plant
Vogtle Units 3 & 4 Project) Ser. A) Recourse, Underlying Coupon Rate 5.00% | | 6.68 | | 1/1/2059 | | 1,270,000 | b,c,d | 1,285,950 | |
The Atlanta Development Authority, Revenue Bonds, Ser. A1 | | 5.25 | | 7/1/2040 | | 1,500,000 | | 1,521,724 | |
The Burke County Development
Authority, Revenue Bonds, Refunding (Oglethorpe Power Corp.) Ser. D | | 4.13 | | 11/1/2045 | | 1,000,000 | | 913,483 | |
| | 9,487,301 | |
Hawaii
- .8% | | | | | |
Hawaii Airports System, Revenue Bonds, Ser. A | | 5.00 | | 7/1/2047 | | 1,250,000 | | 1,302,556 | |
Illinois
- 12.1% | | | | | |
Chicago II, GO, Refunding, Ser. A | | 6.00 | | 1/1/2038 | | 2,000,000 | | 2,081,239 | |
Chicago II, GO, Ser. A | | 5.00 | | 1/1/2044 | | 1,000,000 | | 1,021,389 | |
Chicago II Wastewater Transmission, Revenue Bonds, Refunding,
Ser. C | | 5.00 | | 1/1/2039 | | 1,100,000 | | 1,103,267 | |
Chicago Midway International
Airport, Revenue Bonds, Refunding, Ser. C | | 5.00 | | 1/1/2040 | | 1,000,000 | | 1,065,307 | |
Chicago O'Hare International Airport, Revenue Bonds, Ser.
A | | 5.50 | | 1/1/2055 | | 1,500,000 | | 1,607,780 | |
Chicago Park District, GO,
Refunding, Ser. A | | 5.00 | | 1/1/2045 | | 1,000,000 | | 1,050,980 | |
Illinois, GO, Refunding,
Ser. A | | 5.00 | | 10/1/2029 | | 1,000,000 | | 1,055,937 | |
Illinois, GO, Ser.
A | | 5.00 | | 5/1/2038 | | 1,250,000 | | 1,299,525 | |
Illinois, GO, Ser.
D | | 5.00 | | 11/1/2028 | | 1,000,000 | | 1,043,126 | |
Illinois Finance Authority, Revenue
Bonds, Refunding (Rosalind Franklin University of Medicine & Science) | | 5.00 | | 8/1/2047 | | 1,350,000 | | 1,359,461 | |
Metropolitan Pier & Exposition Authority, Revenue Bonds
(McCormick Place Expansion Project) | | 5.00 | | 6/15/2057 | | 2,500,000 | | 2,542,240 | |
Metropolitan Pier & Exposition Authority, Revenue Bonds
(McCormick Place Project) (Insured; National Public Finance Guarantee Corp.) Ser. A | | 0.00 | | 12/15/2036 | | 2,500,000 | e | 1,495,384 | |
Sales Tax Securitization Corp., Revenue Bonds, Refunding,
Ser. A | | 4.00 | | 1/1/2039 | | 1,500,000 | | 1,493,517 | |
Tender Option Bond
Trust Receipts (Series 2023-XF1623), (Regional Transportation Authority Illinois, Revenue Bonds, Ser.
B) Non-Recourse, Underlying Coupon Rate 4.00% | | 3.37 | | 6/1/2048 | | 1,125,000 | b,c,d | 1,064,476 | |
| | 19,283,628 | |
Indiana
- .7% | | | | | |
Indianapolis Local Public Improvement Bond Bank, Revenue
Bonds (City Moral Obligation) (Insured; Build America Mutual) Ser. F1 | | 5.25 | | 3/1/2067 | | 1,000,000 | | 1,066,115 | |
STATEMENT
OF INVESTMENTS (Unaudited) (continued)
| | | | | | | | | | |
| |
Description | Coupon
Rate (%) | | Maturity Date | | Principal Amount
($) | | Value
($) | |
Long-Term
Municipal Investments - 145.9% (continued) | | | | | |
Iowa
- 1.0% | | | | | |
Iowa Finance Authority, Revenue Bonds, Refunding (Iowa Fertilizer
Co. Project) | | 5.00 | | 12/1/2050 | | 1,500,000 | | 1,590,840 | |
Kentucky
- 2.1% | | | | | |
Kentucky Public Energy Authority, Revenue Bonds, Ser. A | | 5.00 | | 5/1/2055 | | 1,000,000 | a | 1,048,769 | |
Kentucky Public Energy Authority, Revenue Bonds, Ser. A1 | | 4.00 | | 8/1/2030 | | 2,320,000 | a | 2,313,700 | |
| | 3,362,469 | |
Louisiana - 5.3% | | | | | |
Louisiana
Local Government Environmental Facilities & Community Development Authority, Revenue Bonds, Refunding
(Westlake Chemical Project) | | 3.50 | | 11/1/2032 | | 1,000,000 | | 966,891 | |
New Orleans Aviation
Board, Revenue Bonds (General Airport-N Terminal Project) Ser. A | | 5.00 | | 1/1/2048 | | 1,000,000 | | 1,017,643 | |
Tender Option Bond Trust Receipts (Series 2018-XF2584), (Louisiana
Public Facilities Authority, Revenue Bonds (Franciscan Missionaries of Our Lady Health System Project))
Non-recourse, Underlying Coupon Rate 5.00% | | 6.59 | | 7/1/2047 | | 6,320,000 | b,c,d | 6,373,908 | |
| | 8,358,442 | |
Maryland
- 1.6% | | | | | |
Maryland Economic Development Corp., Revenue Bonds (Sustainable
Bond) (Purple Line Transit Partners) Ser. B | | 5.25 | | 6/30/2055 | | 1,000,000 | | 1,036,567 | |
Maryland Health & Higher Educational Facilities Authority, Revenue
Bonds (Adventist Healthcare Obligated Group) Ser. A | | 5.50 | | 1/1/2046 | | 1,500,000 | | 1,521,438 | |
| | 2,558,005 | |
Massachusetts
- 1.8% | | | | | |
Massachusetts Development Finance Agency, Revenue Bonds,
Refunding (UMass Memorial Health Care Obligated Group) | | 5.00 | | 7/1/2046 | | 1,835,000 | | 1,846,584 | |
Massachusetts Development Finance Agency, Revenue Bonds,
Ser. T | | 4.00 | | 3/1/2054 | | 1,000,000 | | 972,285 | |
| | 2,818,869 | |
Michigan
- 3.6% | | | | | |
Detroit Downtown Development Authority, Tax Allocation Bonds,
Refunding (Catalyst Development Project) | | 5.00 | | 7/1/2048 | | 1,250,000 | | 1,310,288 | |
Michigan Finance Authority, Revenue Bonds (Sustainable Bond)
(Henry Ford) | | 4.13 | | 2/29/2044 | | 650,000 | | 638,803 | |
Michigan Finance Authority, Revenue
Bonds, Refunding (Beaumont-Spectrum) | | 4.00 | | 4/15/2042 | | 1,000,000 | | 974,750 | |
| | | | | | | | | | |
| |
Description | Coupon
Rate (%) | | Maturity Date | | Principal Amount
($) | | Value
($) | |
Long-Term
Municipal Investments - 145.9% (continued) | | | | | |
Michigan
- 3.6% (continued) | | | | | |
Michigan Finance Authority, Revenue
Bonds, Refunding, Ser. A | | 4.00 | | 12/1/2049 | | 2,000,000 | | 1,893,697 | |
Pontiac School District, GO
(Insured; Qualified School Board Loan Fund) | | 4.00 | | 5/1/2045 | | 1,000,000 | | 979,171 | |
| | 5,796,709 | |
Minnesota
- 1.3% | | | | | |
Duluth Economic Development Authority, Revenue Bonds, Refunding
(Essentia Health Obligated Group) Ser. A | | 5.00 | | 2/15/2058 | | 1,000,000 | | 1,006,978 | |
Minnesota Agricultural & Economic Development Board, Revenue
Bonds (HealthPartners Obligated Group) | | 5.25 | | 1/1/2054 | | 1,000,000 | | 1,079,387 | |
| | 2,086,365 | |
Missouri
- 3.1% | | | | | |
Tender Option Bond Trust Receipts (Series 2023-XM1116), (Jackson
County Missouri Special Obligation, Revenue Bonds, Refunding, Ser. A) Non-Recourse, Underlying Coupon
Rate 4.25% | | 3.96 | | 12/1/2053 | | 3,000,000 | b,c,d | 2,913,715 | |
The Missouri Health & Educational Facilities Authority, Revenue
Bonds (Lutheran Senior Services Projects) Ser. A | | 5.00 | | 2/1/2042 | | 2,000,000 | | 2,041,301 | |
| | 4,955,016 | |
Nebraska
- 1.4% | | | | | |
Douglas County Hospital Authority No. 2, Revenue Bonds (Children's
Hospital Obligated Group) | | 5.00 | | 11/15/2036 | | 1,000,000 | | 1,037,419 | |
Omaha Public Power
District, Revenue Bonds, Ser. A | | 4.00 | | 2/1/2051 | | 1,250,000 | | 1,204,260 | |
| | 2,241,679 | |
Nevada
- 2.4% | | | | | |
Clark County School District, GO (Insured; Assured Guaranty
Municipal Corp.) Ser. A | | 4.25 | | 6/15/2041 | | 1,340,000 | | 1,363,788 | |
Reno, Revenue Bonds,
Refunding (Insured; Assured Guaranty Municipal Corp.) | | 4.00 | | 6/1/2058 | | 1,250,000 | | 1,175,664 | |
Reno, Revenue Bonds, Refunding (Insured; Assured Guaranty
Municipal Corp.) | | 4.13 | | 6/1/2058 | | 1,250,000 | | 1,203,287 | |
| | 3,742,739 | |
New Hampshire
- 1.2% | | | | | |
New Hampshire Business Finance Authority, Revenue Bonds (University
of Nevada Reno Project) (Insured; Build America Mutual) Ser. A | | 5.25 | | 6/1/2051 | | 1,000,000 | | 1,080,997 | |
New Hampshire Business Finance Authority, Revenue Bonds,
Refunding (Springpoint Senior Living Obligated Group) | | 4.00 | | 1/1/2041 | | 1,000,000 | | 892,690 | |
| | 1,973,687 | |
STATEMENT
OF INVESTMENTS (Unaudited) (continued)
| | | | | | | | | | |
| |
Description | Coupon
Rate (%) | | Maturity Date | | Principal Amount
($) | | Value
($) | |
Long-Term
Municipal Investments - 145.9% (continued) | | | | | |
New Jersey
- 6.4% | | | | | |
New Jersey Health Care Facilities Financing Authority, Revenue
Bonds (RWJ Barnabas Health Obligated Group) | | 4.00 | | 7/1/2051 | | 855,000 | | 820,422 | |
New Jersey Transportation Trust Fund Authority, Revenue Bonds | | 5.00 | | 6/15/2044 | | 1,250,000 | | 1,350,082 | |
New Jersey Transportation
Trust Fund Authority, Revenue Bonds | | 5.25 | | 6/15/2043 | | 2,000,000 | | 2,089,960 | |
New Jersey Transportation Trust Fund Authority, Revenue Bonds,
Ser. AA | | 5.25 | | 6/15/2033 | | 1,000,000 | | 1,014,249 | |
South Jersey Port Corp., Revenue
Bonds, Ser. B | | 5.00 | | 1/1/2048 | | 1,000,000 | | 1,020,262 | |
Tobacco Settlement
Financing Corp., Revenue Bonds, Refunding, Ser. A | | 5.00 | | 6/1/2046 | | 3,860,000 | | 3,943,743 | |
| | 10,238,718 | |
New
York - 8.1% | | | | | |
New York Convention Center Development Corp., Revenue Bonds
(Hotel Unit Fee) (Insured; Assured Guaranty Municipal Corp.) Ser. B | | 0.00 | | 11/15/2052 | | 6,400,000 | e | 1,550,293 | |
New York State Housing Finance Agency, Revenue Bonds (Sustainable
Bond) Ser. B1 | | 4.70 | | 11/1/2059 | | 1,000,000 | | 1,007,358 | |
New York Transportation
Development Corp., Revenue Bonds (JFK International Airport Terminal) | | 5.00 | | 12/1/2040 | | 1,000,000 | | 1,052,516 | |
New York Transportation Development Corp., Revenue Bonds
(LaGuardia Airport Terminal B Redevelopment Project) Ser. A | | 5.00 | | 7/1/2046 | | 1,500,000 | | 1,499,927 | |
New York Transportation Development Corp., Revenue Bonds
(Sustainable Bond) (JFK International Airport Terminal One Project) (Insured; Assured Guaranty Municipal
Corp.) | | 5.13 | | 6/30/2060 | | 1,000,000 | | 1,035,570 | |
Tender Option Bond
Trust Receipts (Series 2022-XM1004), (Metropolitan Transportation Authority, Revenue Bonds, Refunding
(Sustainable Bond) (Insured; Assured Guaranty Municipal Corp.) Ser. C) Non-Recourse, Underlying Coupon
Rate 4.00% | | 3.58 | | 11/15/2047 | | 2,000,000 | b,c,d | 1,948,573 | |
Tender Option Bond Trust Receipts (Series 2024-XM1174), (New
York State Transportation Development Corp., Revenue Bonds (Sustainable Bond) (JFK International Airport
Terminal one Project) (Insured; Assured Guaranty Municipal Corp.)) Recourse, Underlying Coupon Rate 5.25% | | 7.66 | | 6/30/2060 | | 1,360,000 | b,c,d | 1,424,918 | |
Triborough Bridge & Tunnel Authority, Revenue Bonds,
Ser. A1 | | 4.13 | | 5/15/2064 | | 1,500,000 | | 1,445,593 | |
Triborough Bridge &
Tunnel Authority, Revenue Bonds, Ser. C1A | | 4.00 | | 5/15/2046 | | 2,000,000 | | 1,964,589 | |
| | 12,929,337 | |
| | | | | | | | | | |
| |
Description | Coupon
Rate (%) | | Maturity Date | | Principal Amount
($) | | Value
($) | |
Long-Term
Municipal Investments - 145.9% (continued) | | | | | |
Ohio
- 3.7% | | | | | |
Cuyahoga County, Revenue Bonds, Refunding (The MetroHealth
System) | | 5.00 | | 2/15/2057 | | 1,155,000 | | 1,155,602 | |
Cuyahoga County, Revenue
Bonds, Refunding (The MetroHealth System) | | 5.00 | | 2/15/2052 | | 1,000,000 | | 1,002,370 | |
Greater Cincinnati Development Authority, Revenue Bonds,
Refunding (Duke Energy Co.) (Insured; Assured Guaranty Municipal Corp.) Ser. B | | 4.38 | | 12/1/2058 | | 750,000 | | 744,533 | |
Tender Option Bond Trust Receipts (Series 2024-XF1711), (University
of Cincinnati Ohio Receipt, Revenue Bonds, Ser. A) Non-Recourse, Underlying Coupon Rate 5.00% | | 7.12 | | 6/1/2049 | | 2,800,000 | b,c,d | 3,029,402 | |
| | 5,931,907 | |
Oklahoma - 2.2% | | | | | |
Tender
Option Bond Trust Receipts (Series 2024-XM1163), (Oklahoma City Water Utilities Trust, Revenue Bonds,
Refunding) Non-Recourse, Underlying Coupon Rate 5.25% | | 7.98 | | 7/1/2064 | | 3,200,000 | b,c,d | 3,551,360 | |
Oregon - .5% | | | | | |
Salem
Hospital Facility Authority, Revenue Bonds, Refunding (Capital Manor Project) | | 4.00 | | 5/15/2057 | | 1,000,000 | | 780,586 | |
Pennsylvania - 8.1% | | | | | |
Allentown
School District, GO, Refunding (Insured; Build America Mutual) Ser. B | | 5.00 | | 2/1/2033 | | 1,255,000 | | 1,320,925 | |
Clairton Municipal Authority, Revenue Bonds, Refunding, Ser.
B | | 4.38 | | 12/1/2042 | | 1,000,000 | | 1,001,767 | |
Montgomery County Industrial
Development Authority, Revenue Bonds, Refunding (ACTS Retirement-Life Communities Obligated Group) | | 5.00 | | 11/15/2036 | | 1,000,000 | | 1,025,790 | |
Pennsylvania Economic
Development Financing Authority, Revenue Bonds (The Penndot Major Bridges) | | 6.00 | | 6/30/2061 | | 1,000,000 | | 1,098,303 | |
Pennsylvania Economic Development Financing Authority, Revenue
Bonds, Refunding (Presbyterian Senior Living) | | 4.00 | | 7/1/2046 | | 1,000,000 | | 914,932 | |
Pennsylvania Turnpike Commission, Revenue Bonds, Ser. A | | 4.00 | | 12/1/2050 | | 1,000,000 | | 937,972 | |
Pennsylvania Turnpike
Commission, Revenue Bonds, Ser. A1 | | 5.00 | | 12/1/2046 | | 1,000,000 | | 1,014,505 | |
Tender Option Bond Trust Receipts (Series 2022-XF1525), (Pennsylvania
Economic Development Financing Authority UPMC, Revenue Bonds, Ser. A) Recourse, Underlying Coupon Rate
4.00% | | 3.50 | | 5/15/2053 | | 1,700,000 | b,c,d | 1,601,341 | |
STATEMENT
OF INVESTMENTS (Unaudited) (continued)
| | | | | | | | | | |
| |
Description | Coupon
Rate (%) | | Maturity Date | | Principal Amount
($) | | Value
($) | |
Long-Term
Municipal Investments - 145.9% (continued) | | | | | |
Pennsylvania
- 8.1% (continued) | | | | | |
Tender Option Bond
Trust Receipts (Series 2023-XM1133), (Philadelphia Water & Wastewater, Revenue Bonds, Refunding
(Insured; Assured Guaranty Municipal Corp.) Ser. B) Non-Recourse, Underlying Coupon Rate 5.50% | | 8.74 | | 9/1/2053 | | 2,400,000 | b,c,d | 2,685,981 | |
The Philadelphia School District, GO (Insured; State Aid
Withholding) Ser. A | | 4.00 | | 9/1/2037 | | 1,250,000 | | 1,274,234 | |
| | 12,875,750 | |
Rhode
Island - 3.2% | | | | | |
Rhode Island Health & Educational Building Corp., Revenue
Bonds (Lifespan Obligated Group) | | 5.25 | | 5/15/2054 | | 1,000,000 | | 1,061,968 | |
Tender Option Bond Trust Receipts (Series 2023-XM1117), (Rhode
Island Infrastructure Bank State Revolving Fund, Revenue Bonds, Ser. A) Non-recourse, Underlying Coupon
Rate 4.25% | | 2.76 | | 10/1/2053 | | 4,000,000 | b,c,d | 4,020,344 | |
| | 5,082,312 | |
South Carolina - 7.5% | | | | | |
South
Carolina Jobs-Economic Development Authority, Revenue Bonds (Bishop Gadsden Episcopal Retirement Community
Obligated Group) | | 5.00 | | 4/1/2054 | | 1,000,000 | | 961,037 | |
South Carolina Jobs-Economic
Development Authority, Revenue Bonds, Refunding (Bon Secours Mercy Health) | | 4.00 | | 12/1/2044 | | 1,000,000 | | 974,526 | |
South Carolina Public Service Authority, Revenue Bonds, Refunding
(Santee Cooper) Ser. A | | 4.00 | | 12/1/2055 | | 1,000,000 | | 905,649 | |
Tender Option Bond
Trust Receipts (Series 2016-XM0384), (South Carolina Public Service Authority, Revenue Bonds, Refunding
(Santee Cooper)) Non-recourse, Underlying Coupon Rate 5.13% | | 5.87 | | 12/1/2043 | | 4,800,000 | b,c,d | 4,796,919 | |
Tobacco Settlement Revenue Management Authority, Revenue
Bonds, Ser. B | | 6.38 | | 5/15/2030 | | 3,750,000 | | 4,293,379 | |
| | 11,931,510 | |
South
Dakota - 1.3% | | | | | |
Tender Option Bond Trust Receipts (Series 2022-XF1409), (South
Dakota Heath & Educational Facilities Authority, Revenue Bonds, Refunding (Avera Health Obligated
Group)) Non-Recourse, Underlying Coupon Rate 5.00% | | 7.13 | | 7/1/2046 | | 2,000,000 | b,c,d | 2,026,668 | |
Texas - 15.3% | | | | | |
Clifton
Higher Education Finance Corp., Revenue Bonds (IDEA Public Schools) Ser. A | | 4.00 | | 8/15/2051 | | 1,100,000 | | 989,875 | |
| | | | | | | | | | |
| |
Description | Coupon
Rate (%) | | Maturity Date | | Principal Amount
($) | | Value
($) | |
Long-Term
Municipal Investments - 145.9% (continued) | | | | | |
Texas
- 15.3% (continued) | | | | | |
Clifton Higher Education
Finance Corp., Revenue Bonds (Uplift Education) Ser. A | | 4.25 | | 12/1/2034 | | 1,000,000 | | 987,649 | |
Clifton Higher Education Finance Corp., Revenue Bonds, Refunding
(International Leadership of Texas) (Insured; Permanent School Fund Guarantee Program) Ser. A | | 4.25 | | 8/15/2053 | | 1,000,000 | | 993,608 | |
Dallas Independent
School District, GO, Refunding (Insured; Permanent School Fund Guarantee Program) | | 4.00 | | 2/15/2054 | | 1,000,000 | | 960,844 | |
Harris County-Houston Sports Authority, Revenue Bonds, Refunding
(Insured; Assured Guaranty Municipal Corp.) Ser. A | | 0.00 | | 11/15/2052 | | 4,000,000 | e | 1,004,714 | |
Houston Airport System, Revenue Bonds, Refunding (Insured;
Assured Guaranty Municipal Corp.) Ser. A | | 4.50 | | 7/1/2053 | | 1,000,000 | | 1,000,939 | |
Houston Airport System, Revenue Bonds, Refunding, Ser. A | | 4.00 | | 7/1/2047 | | 1,560,000 | | 1,476,455 | |
Lamar Consolidated
Independent School District, GO | | 4.00 | | 2/15/2053 | | 1,000,000 | | 958,040 | |
Midland Independent School District, GO (Insured; Permanent
School Fund Guaranteed) | | 5.00 | | 2/15/2050 | | 1,000,000 | | 1,035,884 | |
New Hope Cultural Education
Facilities Finance Corp., Revenue Bonds, Refunding (Westminster Project) | | 4.00 | | 11/1/2055 | | 1,650,000 | | 1,434,720 | |
North Texas Tollway Authority, Revenue Bonds, Refunding,
Ser. A | | 4.00 | | 1/2/2038 | | 1,750,000 | | 1,763,633 | |
San Antonio Education
Facilities Corp., Revenue Bonds, Refunding (University of the Incarnate Word) | | 4.00 | | 4/1/2046 | | 1,675,000 | | 1,408,016 | |
Tender Option Bond Trust Receipts (Series 2023-XM1125), (Medina
Valley Independent School District, GO (Insured; Permanent School Fund Guarantee Program)) Non-recourse,
Underlying Coupon Rate 4.00% | | 3.91 | | 2/15/2053 | | 3,000,000 | b,c,d | 2,870,929 | |
Tender Option Bond Trust Receipts (Series 2024-XM1164), (Texas
University System, Revenue Bonds, Refunding) Non-Recourse, Underlying Coupon Rate 5.25% | | 3.91 | | 3/15/2054 | | 2,800,000 | b,c,d | 3,083,525 | |
Texas Municipal Gas Acquisition & Supply Corp. IV, Revenue
Bonds, Ser. B | | 5.50 | | 1/1/2034 | | 1,000,000 | a | 1,117,551 | |
Texas Private Activity Bond Surface Transportation Corp., Revenue
Bonds (Blueridge Transportation Group) | | 5.00 | | 12/31/2055 | | 1,000,000 | | 1,006,077 | |
Texas Private Activity Bond Surface Transportation Corp., Revenue
Bonds (Blueridge Transportation Group) | | 5.00 | | 12/31/2050 | | 1,200,000 | | 1,207,292 | |
Waxahachie Independent School District, GO (Insured; Permanent
School Fund Guarantee Program) | | 4.25 | | 2/15/2053 | | 1,000,000 | | 998,141 | |
| | 24,297,892 | |
STATEMENT
OF INVESTMENTS (Unaudited) (continued)
| | | | | | | | | | |
| |
Description | Coupon
Rate (%) | | Maturity Date | | Principal Amount
($) | | Value
($) | |
Long-Term
Municipal Investments - 145.9% (continued) | | | | | |
Utah
- 1.6% | | | | | |
Salt Lake City, Revenue Bonds, Ser. A | | 5.00 | | 7/1/2048 | | 1,000,000 | | 1,015,607 | |
Utah Infrastructure Agency, Revenue Bonds, Refunding, Ser.
A | | 5.00 | | 10/15/2037 | | 1,500,000 | | 1,528,217 | |
| | 2,543,824 | |
Virginia
- 3.6% | | | | | |
Virginia Housing Development Authority, Revenue Bonds, Ser.
A | | 4.80 | | 9/1/2059 | | 1,800,000 | | 1,828,427 | |
Virginia Small Business
Financing Authority, Revenue Bonds (Transform 66 P3 Project) | | 5.00 | | 12/31/2052 | | 2,000,000 | | 2,023,832 | |
Virginia Small Business Financing Authority, Revenue Bonds,
Refunding (95 Express Lanes) | | 4.00 | | 1/1/2048 | | 1,000,000 | | 917,235 | |
Williamsburg Economic
Development Authority, Revenue Bonds (William & Mary Project) (Insured; Assured Guaranty Municipal
Corp.) Ser. A | | 4.13 | | 7/1/2058 | | 1,000,000 | | 966,071 | |
| | 5,735,565 | |
Washington
- .7% | | | | | |
Washington Housing Finance Commission, Revenue Bonds, Refunding
(Seattle Academy of Arts & Sciences) | | 6.38 | | 7/1/2063 | | 1,000,000 | b | 1,101,837 | |
Wisconsin - 3.3% | | | | | |
Public
Finance Authority, Revenue Bonds (EMU Campus Living) (Insured; Build America Mutual) Ser. A1 | | 5.50 | | 7/1/2052 | | 1,000,000 | | 1,081,893 | |
Public Finance Authority, Revenue
Bonds (EMU Campus Living) (Insured; Build America Mutual) Ser. A1 | | 5.63 | | 7/1/2055 | | 1,000,000 | | 1,091,281 | |
Public Finance Authority, Revenue Bonds, Ser. 1 | | 5.75 | | 7/1/2062 | | 1,800,000 | | 1,967,112 | |
Wisconsin Health &
Educational Facilities Authority, Revenue Bonds (Bellin Memorial Hospital Obligated Group) | | 5.50 | | 12/1/2052 | | 1,000,000 | | 1,085,188 | |
| | 5,225,474 | |
Total Investments (cost $227,213,263) | | 145.9% | 232,107,354 | |
Liabilities, Less Cash and Receivables | | (45.9%) | (72,972,368) | |
Net Assets Applicable
to Common Stockholders | | 100.0% | 159,134,986 | |
GO—General
Obligation
a These
securities have a put feature; the date shown represents the put date and the bond holder can take a
specific action to retain the bond after the put date.
b Security exempt from registration pursuant to Rule 144A under
the Securities Act of 1933. These securities may be resold in transactions exempt from registration,
normally to qualified institutional buyers. At June 30, 2024, these securities were valued at $70,146,077
or 44.08% of net assets.
c The
Variable Rate is determined by the Remarketing Agent in its sole discretion based on prevailing market
conditions and may, but need not, be established by reference to one or more financial indices.
d Collateral
for floating rate borrowings. The coupon rate given represents the current interest rate for the inverse
floating rate security.
e Security
issued with a zero coupon. Income is recognized through the accretion of discount.
STATEMENT
OF FINANCIAL FUTURES
BNY Mellon Municipal Income, Inc.
June 30, 2024 (Unaudited)
The
following is a summary of the inputs used as of June 30, 2024 in valuing the fund’s
investments:
| | | | | | | |
| | Level
1-Unadjusted Quoted Prices | Level 2- Other Significant Observable Inputs | | Level
3-Significant Unobservable Inputs | Total | |
Assets ($) | | |
Investments
in Securities:† | | |
Municipal Securities | - | 232,107,354 | | - | 232,107,354 | |
Liabilities ($) | | |
Other Financial Instruments: | | |
Inverse
Floater Notes†† | - | (45,460,000) | | - | (45,460,000) | |
VMTP Shares†† | - | (30,225,000) | | - | (30,225,000) | |
† See
Statement of Investments for additional detailed categorizations, if any.
†† Certain of the fund’s liabilities are held at carrying amount,
which approximates fair value for financial reporting purposes.
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:
The fund’s Board of Directors (the “Board”)
has designated the Adviser as the fund’s valuation designee to make all fair value determinations with
respect to the fund’s portfolio investments, subject to the Board’s oversight and pursuant to Rule
2a-5 under the Act.
Investments in municipal securities are valued each business day by an independent
pricing service (the “Service”) approved by 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 the Service
are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such
securities) and asked prices (as calculated by the Service based upon its evaluation of the market for
such securities). Municipal investments (which constitute a majority of the portfolio securities) are
carried at fair value as determined by the Service, based on methods which include consideration of the
following: yields or prices of municipal securities of comparable quality, coupon, maturity and type;
indications as to values from dealers; and general market conditions. The Service is engaged under the
general oversight of the Board. All of the preceding securities are generally categorized within Level
2 of the fair value hierarchy.
When market quotations or official closing prices are not
readily available, or are determined not to accurately reflect fair value, such as when the value of
a security has been significantly affected by events after the close of the exchange or market on which
the security is principally traded, but before the 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.
Inverse Floater Securities:
The fund participates in secondary inverse floater structures in which fixed-rate, tax-exempt municipal
bonds are transferred to a trust (the “Inverse Floater Trust”). The Inverse Floater Trust typically
issues two variable rate securities that are collateralized by the cash flows of the fixed-rate, tax-exempt
municipal bonds. One of these variable rate securities pays interest based on a short-term floating rate
set by a remarketing agent at predetermined intervals (“Trust Certificates”). A residual interest
tax-exempt security is also created by the Inverse Floater Trust, which is transferred to the fund, and
is paid interest based on the remaining cash flows of the Inverse Floater Trust, after payment of interest
on the other securities and various expenses of the Inverse Floater Trust. An Inverse Floater Trust may
be collapsed without the consent of the fund due to certain termination events such as bankruptcy, default
or other credit event.
The fund accounts for the transfer of bonds to the Inverse
Floater Trust as secured borrowings, with the securities transferred remaining in the fund’s investments,
and the Trust Certificates reflected as fund liabilities in the Statement of Assets and Liabilities.
The fund may invest in inverse floater securities on either a non-recourse or
recourse basis. These securities are typically supported by a liquidity facility provided by a bank or
other financial institution (the “Liquidity Provider”) that allows the holders of the Trust Certificates
to tender their certificates in exchange for payment from the Liquidity Provider of par plus accrued
interest on any business day prior to a termination event. When the fund invests in inverse floater securities
on a non-recourse basis, the Liquidity Provider is required to make a payment under the liquidity facility
due to a termination event to the holders of the Trust Certificates. When this occurs, the Liquidity
Provider typically liquidates all or a portion of the municipal securities held in the Inverse Floater
Trust. A liquidation shortfall occurs if the Trust Certificates exceed the proceeds of the sale of the
bonds in the Inverse Floater Trust (“Liquidation Shortfall”). When a fund invests in inverse floater
securities on a recourse basis, the fund typically enters into a reimbursement agreement with the Liquidity
Provider where the fund is required to repay the Liquidity Provider the amount of any Liquidation Shortfall.
As a result, a fund investing in a recourse inverse floater security bears the risk of loss with respect
to any Liquidation Shortfall.
At June 30, 2024, accumulated net unrealized appreciation
on investments was $4,894,091, consisting of $6,844,999 gross unrealized appreciation and $1,950,908
gross unrealized depreciation.
At June 30, 2024, 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.
Grafico Azioni BNY Mellon Municipal Inc... (AMEX:DMF)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni BNY Mellon Municipal Inc... (AMEX:DMF)
Storico
Da Dic 2023 a Dic 2024
