Dreyfus Stock Index Fund Inc.

15/08/2024 | Press release | Distributed by Public on 15/08/2024 18:33

Semi Annual Report by Investment Company Form N CSRS

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

Investment Company Act file number 811-05719

BNY Mellon Stock Index Fund, Inc.

(Exact Name of Registrant as Specified in Charter)

c/o BNY Mellon Investment Adviser, Inc.
240 Greenwich Street
New York, New York 10286
(Address of Principal Executive Offices) (Zip Code)

Deirdre Cunnane, Esq.
240 Greenwich Street
New York, New York 10286
(Name and Address of Agent for Service)

Registrant's Telephone Number, including Area Code: (212) 922-6400

Date of fiscal year end: 12/31

Date of reporting period: 06/30/24

FORM N-CSR

Item 1. Reports to Stockholders.

BNY Mellon Stock Index Fund, Inc.

SEMI-ANNUAL
SHAREHOLDER
REPORT

JUNE 30, 2024

Initial Shares

This semi-annual shareholder report contains important information about BNY Mellon Stock Index Fund, Inc. (the "Fund") for the period of January 1, 2024 to June 30, 2024. You can find additional information about the Fund at im.bnymellon.com/us/en/intermediary/products/variable-products.html#funds-table-tabs1. You can also request this information by calling 1-800-373-9387 (inside the U.S. only) or by sending an e-mail request to [email protected].

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

Share Class

Costs of a $10,000 investment

Costs paid as a percentage of a $10,000 investment

Initial Shares

$14

0.27%*

*

Annualized

KEY FUND STATISTICS (AS OF 6/30/24)

Fund Size (Millions)

Number of Holdings

Portfolio Turnover

$3,235

505

1.01%

Portfolio Holdings (as of 6/30/24)

Top Ten Holdings (Based on Net Assets)*

* Excludes money market funds or other short-term securities held for the investment of cash and cash collateral for securities loaned, if any.

Not FDIC Insured. Not Bank-Guaranteed. May Lose Value

Sector Allocation (Based on Net Assets)

For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit im.bnymellon.com/us/en/intermediary/products/variable-products.html#funds-table-tabs1.

© 2024 BNY Mellon Securities Corporation, Distributor,
240 Greenwich Street, 9th Floor, NewYork, NY 10281
Code-0763SA0624

BNY Mellon Stock Index Fund, Inc.

SEMI-ANNUAL
SHAREHOLDER
REPORT

JUNE 30, 2024

Service Shares

This semi-annual shareholder report contains important information about BNY Mellon Stock Index Fund, Inc. (the "Fund") for the period of January 1, 2024 to June 30, 2024. You can find additional information about the Fund at im.bnymellon.com/us/en/intermediary/products/variable-products.html#funds-table-tabs1. You can also request this information by calling 1-800-373-9387 (inside the U.S. only) or by sending an e-mail request to [email protected].

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

Share Class

Costs of a $10,000 investment

Costs paid as a percentage of a $10,000 investment

Service Shares

$28

0.52%*

*

Annualized

KEY FUND STATISTICS (AS OF 6/30/24)

Fund Size (Millions)

Number of Holdings

Portfolio Turnover

$3,235

505

1.01%

Portfolio Holdings (as of 6/30/24)

Top Ten Holdings (Based on Net Assets)*

* Excludes money market funds or other short-term securities held for the investment of cash and cash collateral for securities loaned, if any.

Not FDIC Insured. Not Bank-Guaranteed. May Lose Value

Sector Allocation (Based on Net Assets)

For additional information about the Fund, including its prospectus, financial information, portfolio holdings and proxy voting information, please visit im.bnymellon.com/us/en/intermediary/products/variable-products.html#funds-table-tabs1.

© 2024 BNY Mellon Securities Corporation, Distributor,
240 Greenwich Street, 9th Floor, NewYork, NY 10281
Code-0427SA0624

Item 2. Code of Ethics.

Not applicable.

Item 3. Audit Committee Financial Expert.

Not applicable.

Item 4. Principal Accountant Fees and Services.

Not applicable.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Investments.

Not applicable.

BNY Mellon Stock Index Fund, Inc.

SEMI-ANNUAL FINANCIALS AND OTHER INFORMATION

June 30, 2024

Initial Shares

Service Shares

IMPORTANT NOTICE - CHANGES TO ANNUAL AND SEMI-ANNUAL REPORTS

The Securities and Exchange Commission (the "SEC") has adopted rule and form amendments which have resulted in changes to the design and delivery of annual and semi-annual fund reports ("Reports"). Reports are now streamlined to highlight key information. Certain information previously included in Reports, including financial statements, no longer appear in the Reports but will be available online within the Semi-Annual and Annual Financials and Other Information, delivered free of charge to shareholders upon request, and filed with the SEC.

Save time. Save paper. View your next shareholder report online as soon as it's available. Log into www.im.bnymellon.com and sign up for eCommunications. It's simple and only takes a few minutes.

The views expressed in this report reflect those of the portfolio manager(s) only through the end of the period covered and do not necessarily represent the views of BNY Mellon Investment Adviser, Inc. or any other person in the BNY Mellon Investment Adviser, Inc. organization. Any such views are subject to change at any time based upon market or other conditions and BNY Mellon Investment Adviser, Inc. disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a fund in the BNY Mellon Family of Funds are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any fund in the BNY Mellon Family of Funds.

Not FDIC-Insured • Not Bank-Guaranteed • May Lose Value

Contents

T H E F U N D

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

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

3

Statement of Investments

3

Statement of Assets and Liabilities

15

Statement of Operations

16

Statement of Changes in Net Assets

17

Financial Highlights

18

Notes to Financial Statements

20

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

26

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

27

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

28

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract

29

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

BNY Mellon Stock Index Fund, Inc.

Statement of Investments

June 30, 2024 (Unaudited)

Description

Shares

Value ($)

Common Stocks - 98.0% 

Automobiles & Components - 1.4% 

Aptiv PLC 

18,411

a

1,296,503

BorgWarner, Inc. 

16,659

537,086

Ford Motor Co. 

274,496

3,442,180

General Motors Co. 

78,711

3,656,913

Tesla, Inc. 

191,934

a

37,979,900

46,912,582

Banks - 3.2% 

Bank of America Corp. 

470,651

18,717,790

Citigroup, Inc. 

131,948

8,373,420

Citizens Financial Group, Inc. 

31,476

1,134,080

Fifth Third Bancorp 

46,863

1,710,031

Huntington Bancshares, Inc. 

102,746

1,354,192

JPMorgan Chase & Co. 

198,649

40,178,747

KeyCorp 

65,223

926,819

M&T Bank Corp. 

11,417

1,728,077

Regions Financial Corp. 

65,015

1,302,901

The PNC Financial Services Group, Inc. 

27,525

4,279,587

Truist Financial Corp. 

92,551

3,595,606

U.S. Bancorp 

109,026

4,328,332

Wells Fargo & Co. 

241,168

14,322,968

101,952,550

Capital Goods - 5.3% 

3M Co. 

38,250

3,908,767

A.O. Smith Corp. 

7,976

652,277

Allegion PLC 

5,743

678,535

AMETEK, Inc. 

16,178

2,697,034

Axon Enterprise, Inc. 

4,907

a

1,443,836

Builders FirstSource, Inc. 

8,488

a

1,174,824

Carrier Global Corp. 

57,965

3,656,432

Caterpillar, Inc. 

33,831

11,269,106

Cummins, Inc. 

9,585

2,654,374

Deere & Co. 

17,908

6,690,966

Dover Corp. 

9,723

1,754,515

Eaton Corp. PLC 

27,656

8,671,539

Emerson Electric Co. 

39,575

4,359,582

Fastenal Co. 

39,550

2,485,322

Fortive Corp. 

24,713

1,831,233

GE Vernova, Inc. 

18,960

a

3,251,830

Generac Holdings, Inc. 

4,398

a

581,504

General Dynamics Corp. 

15,727

4,563,032

General Electric Co. 

75,720

12,037,208

Honeywell International, Inc. 

45,046

9,619,123

Howmet Aerospace, Inc. 

26,142

2,029,403

Hubbell, Inc. 

3,683

1,346,063

Huntington Ingalls Industries, Inc. 

2,621

645,631

IDEX Corp. 

5,247

1,055,696

Illinois Tool Works, Inc. 

18,784

4,451,057

3

Statement of Investments (Unaudited) (continued)

Description

Shares

Value ($)

Common Stocks - 98.0% (continued)

Capital Goods - 5.3%  (continued)

Ingersoll Rand, Inc. 

28,162

2,558,236

Johnson Controls International PLC 

46,295

3,077,229

L3Harris Technologies, Inc. 

13,121

2,946,714

Lockheed Martin Corp. 

14,772

6,900,001

Masco Corp. 

14,941

996,116

Nordson Corp. 

3,916

908,277

Northrop Grumman Corp. 

9,692

4,225,227

Otis Worldwide Corp. 

28,146

2,709,334

PACCAR, Inc. 

36,258

3,732,399

Parker-Hannifin Corp. 

8,892

4,497,663

Pentair PLC 

11,948

916,053

Quanta Services, Inc. 

10,122

2,571,899

Rockwell Automation, Inc. 

7,821

2,152,965

RTX Corp. 

91,969

9,232,768

Snap-on, Inc. 

3,570

933,162

Stanley Black & Decker, Inc. 

10,591

846,115

Textron, Inc. 

13,060

1,121,332

The Boeing Company 

39,918

a

7,265,475

Trane Technologies PLC 

15,658

5,150,386

TransDigm Group, Inc. 

3,871

a

4,945,628

United Rentals, Inc. 

4,606

2,978,838

W.W. Grainger, Inc. 

3,049

2,750,930

Westinghouse Air Brake Technologies Corp. 

12,136

1,918,095

Xylem, Inc. 

16,634

2,256,069

171,099,800

Commercial & Professional Services - 1.2% 

Automatic Data Processing, Inc. 

28,313

6,758,030

Broadridge Financial Solutions, Inc. 

8,112

1,598,064

Cintas Corp. 

5,960

4,173,550

Copart, Inc. 

59,936

a

3,246,134

Dayforce, Inc. 

11,062

a

548,675

Equifax, Inc. 

8,551

2,073,275

Jacobs Solutions, Inc. 

8,695

1,214,778

Leidos Holdings, Inc. 

9,614

1,402,490

Paychex, Inc. 

22,162

2,627,527

Paycom Software, Inc. 

3,217

460,160

Republic Services, Inc. 

14,161

2,752,049

Rollins, Inc. 

19,017

927,839

Veralto Corp. 

15,138

1,445,225

Verisk Analytics, Inc. 

9,930

2,676,631

Waste Management, Inc. 

25,248

5,386,408

37,290,835

Consumer Discretionary Distribution & Retail - 5.7% 

Amazon.com, Inc. 

633,498

a

122,423,488

AutoZone, Inc. 

1,194

a

3,539,135

Bath & Body Works, Inc. 

15,775

616,014

Best Buy Co., Inc. 

13,164

1,109,594

CarMax, Inc. 

10,211

a,b

748,875

eBay, Inc. 

35,003

1,880,361

Etsy, Inc. 

7,106

a

419,112

Genuine Parts Co. 

9,709

1,342,949

4

Description

Shares

Value ($)

Common Stocks - 98.0% (continued)

Consumer Discretionary Distribution & Retail - 5.7%  (continued)

LKQ Corp. 

17,311

719,964

Lowe's Cos., Inc. 

39,582

8,726,248

O'Reilly Automotive, Inc. 

4,101

a

4,330,902

Pool Corp. 

2,829

869,437

Ross Stores, Inc. 

23,195

3,370,697

The Home Depot, Inc. 

68,555

23,599,373

The TJX Companies, Inc. 

78,341

8,625,344

Tractor Supply Co. 

7,517

2,029,590

Ulta Beauty, Inc. 

3,311

a

1,277,616

185,628,699

Consumer Durables & Apparel - .7% 

D.R. Horton, Inc. 

20,502

2,889,347

Deckers Outdoor Corp. 

1,823

a

1,764,573

Garmin Ltd. 

10,630

1,731,840

Hasbro, Inc. 

8,303

485,725

Lennar Corp., Cl. A 

16,801

2,517,966

Lululemon Athletica, Inc. 

7,926

a

2,367,496

Mohawk Industries, Inc. 

3,339

a

379,277

NIKE, Inc., Cl. B 

83,804

6,316,307

NVR, Inc. 

217

a

1,646,718

PulteGroup, Inc. 

14,812

1,630,801

Ralph Lauren Corp. 

2,609

456,732

Tapestry, Inc. 

17,297

740,139

22,926,921

Consumer Services - 1.9% 

Airbnb, Inc., Cl. A 

30,541

a

4,630,932

Booking Holdings, Inc. 

2,347

9,297,640

Caesars Entertainment, Inc. 

15,562

a

618,434

Carnival Corp. 

69,873

a

1,308,023

Chipotle Mexican Grill, Inc. 

95,002

a

5,951,875

Darden Restaurants, Inc. 

8,090

1,224,179

Domino's Pizza, Inc. 

2,436

1,257,780

Expedia Group, Inc. 

9,067

a

1,142,351

Hilton Worldwide Holdings, Inc. 

17,297

3,774,205

Las Vegas Sands Corp. 

24,560

1,086,780

Marriott International, Inc., Cl. A 

16,756

4,051,098

McDonald's Corp. 

49,854

12,704,793

MGM Resorts International 

17,388

a

772,723

Norwegian Cruise Line Holdings Ltd. 

26,576

a,b

499,363

Royal Caribbean Cruises Ltd. 

16,264

a

2,592,970

Starbucks Corp. 

78,355

6,099,937

Wynn Resorts Ltd. 

6,918

619,161

Yum! Brands, Inc. 

19,435

2,574,360

60,206,604

Consumer Staples Distribution & Retail - 1.8% 

Costco Wholesale Corp. 

30,680

26,077,693

Dollar General Corp. 

14,848

1,963,351

Dollar Tree, Inc. 

14,335

a

1,530,548

Sysco Corp. 

34,728

2,479,232

Target Corp. 

32,003

4,737,724

The Kroger Company 

46,305

2,312,009

5

Statement of Investments (Unaudited) (continued)

Description

Shares

Value ($)

Common Stocks - 98.0% (continued)

Consumer Staples Distribution & Retail - 1.8%  (continued)

Walgreens Boots Alliance, Inc. 

47,069

b

569,300

Walmart, Inc. 

295,496

20,008,034

59,677,891

Energy - 3.6% 

APA Corp. 

25,962

764,321

Baker Hughes Co. 

69,037

2,428,031

Chevron Corp. 

118,564

18,545,781

ConocoPhillips 

80,903

9,253,685

Coterra Energy, Inc. 

52,429

1,398,281

Devon Energy Corp. 

43,719

2,072,281

Diamondback Energy, Inc. 

12,295

2,461,336

EOG Resources, Inc. 

39,756

5,004,088

EQT Corp. 

29,816

1,102,596

Exxon Mobil Corp. 

310,316

35,723,578

Halliburton Co. 

61,241

2,068,721

Hess Corp. 

18,854

2,781,342

Kinder Morgan, Inc. 

134,304

2,668,620

Marathon Oil Corp. 

39,060

1,119,850

Marathon Petroleum Corp. 

24,373

4,228,228

Occidental Petroleum Corp. 

46,166

2,909,843

ONEOK, Inc. 

40,188

3,277,331

Phillips 66 

29,327

4,140,093

Schlumberger NV 

98,664

4,654,968

Targa Resources Corp. 

15,496

1,995,575

The Williams Companies, Inc. 

84,562

3,593,885

Valero Energy Corp. 

22,617

3,545,441

115,737,875

Equity Real Estate Investment Trusts - 2.0% 

Alexandria Real Estate Equities, Inc. 

10,800

c

1,263,276

American Tower Corp. 

32,303

c

6,279,057

AvalonBay Communities, Inc. 

9,822

c

2,032,074

BXP, Inc. 

9,701

c

597,194

Camden Property Trust 

7,151

c

780,246

Crown Castle, Inc. 

30,058

c

2,936,667

Digital Realty Trust, Inc. 

22,383

c

3,403,335

Equinix, Inc. 

6,565

c

4,967,079

Equity Residential 

24,034

c

1,666,518

Essex Property Trust, Inc. 

4,601

c

1,252,392

Extra Space Storage, Inc. 

14,905

c

2,316,386

Federal Realty Investment Trust 

5,635

c

568,966

Healthpeak Properties, Inc. 

48,913

c

958,695

Host Hotels & Resorts, Inc. 

49,359

c

887,475

Invitation Homes, Inc. 

40,437

c

1,451,284

Iron Mountain, Inc. 

20,278

c

1,817,314

Kimco Realty Corp. 

45,879

c

892,805

Mid-America Apartment Communities, Inc. 

7,945

c

1,133,036

Prologis, Inc. 

64,046

c

7,193,006

Public Storage 

10,963

c

3,153,507

Realty Income Corp. 

59,560

c

3,145,959

Regency Centers Corp. 

10,835

c

673,937

SBA Communications Corp. 

7,391

c

1,450,853

6

Description

Shares

Value ($)

Common Stocks - 98.0% (continued)

Equity Real Estate Investment Trusts - 2.0%  (continued)

Simon Property Group, Inc. 

22,402

c

3,400,624

UDR, Inc. 

20,623

c

848,636

Ventas, Inc. 

28,000

c

1,435,280

VICI Properties, Inc. 

71,449

c

2,046,299

Welltower, Inc. 

41,241

c

4,299,374

Weyerhaeuser Co. 

51,484

c

1,461,631

64,312,905

Financial Services - 7.0% 

American Express Co. 

39,309

9,101,999

Ameriprise Financial, Inc. 

6,840

2,921,980

Berkshire Hathaway, Inc., Cl. B 

125,233

a

50,944,784

BlackRock, Inc. 

9,663

7,607,873

Blackstone, Inc. 

49,802

6,165,488

Capital One Financial Corp. 

26,755

3,704,230

Cboe Global Markets, Inc. 

7,274

1,237,016

CME Group, Inc. 

24,907

4,896,716

Corpay, Inc. 

4,703

a

1,252,926

Discover Financial Services 

17,335

2,267,591

FactSet Research Systems, Inc. 

2,629

1,073,342

Fidelity National Information Services, Inc. 

38,479

2,899,777

Fiserv, Inc. 

40,475

a

6,032,394

Franklin Resources, Inc. 

21,069

470,892

Global Payments, Inc. 

17,657

1,707,432

Intercontinental Exchange, Inc. 

39,678

5,431,521

Invesco Ltd. 

29,758

445,180

Jack Henry & Associates, Inc. 

4,686

777,970

KKR & Co., Inc. 

45,662

4,805,469

MarketAxess Holdings, Inc. 

2,704

542,233

Mastercard, Inc., Cl. A 

56,793

25,054,800

Moody's Corp. 

11,005

4,632,335

Morgan Stanley 

86,565

8,413,252

MSCI, Inc. 

5,481

2,640,472

Nasdaq, Inc. 

26,301

1,584,898

Northern Trust Corp. 

14,300

1,200,914

PayPal Holdings, Inc. 

72,361

a

4,199,109

Raymond James Financial, Inc. 

12,905

1,595,187

S&P Global, Inc. 

22,143

9,875,778

State Street Corp. 

20,699

1,531,726

Synchrony Financial 

26,069

1,230,196

T. Rowe Price Group, Inc. 

15,531

1,790,880

The Bank of New York Mellon Corp. 

51,713

3,097,092

The Charles Schwab Corp. 

103,273

7,610,187

The Goldman Sachs Group, Inc. 

22,307

10,089,902

Visa, Inc., Cl. A 

108,893

b

28,581,146

227,414,687

Food, Beverage & Tobacco - 2.5% 

Altria Group, Inc. 

118,818

5,412,160

Archer-Daniels-Midland Co. 

34,108

2,061,829

Brown-Forman Corp., Cl. B 

13,330

b

575,723

Bunge Global SA 

9,482

1,012,393

Campbell Soup Co. 

13,419

606,405

7

Statement of Investments (Unaudited) (continued)

Description

Shares

Value ($)

Common Stocks - 98.0% (continued)

Food, Beverage & Tobacco - 2.5%  (continued)

Conagra Brands, Inc. 

34,935

992,853

Constellation Brands, Inc., Cl. A 

11,162

2,871,759

General Mills, Inc. 

38,997

2,466,950

Hormel Foods Corp. 

18,681

569,584

Kellanova 

17,704

1,021,167

Keurig Dr. Pepper, Inc. 

72,205

2,411,647

Lamb Weston Holdings, Inc. 

10,195

857,196

McCormick & Co., Inc. 

17,350

1,230,809

Molson Coors Beverage Co., Cl. B 

13,022

661,908

Mondelez International, Inc., Cl. A 

92,789

6,072,112

Monster Beverage Corp. 

49,810

a

2,488,009

PepsiCo, Inc. 

95,102

15,685,173

Philip Morris International, Inc. 

107,537

10,896,724

The Coca-Cola Company 

268,205

17,071,248

The Hershey Company 

10,076

1,852,271

The J.M. Smucker Company 

7,412

808,204

The Kraft Heinz Company 

55,640

1,792,721

Tyson Foods, Inc., Cl. A 

19,267

1,100,916

80,519,761

Health Care Equipment & Services - 4.7% 

Abbott Laboratories 

120,340

12,504,529

Align Technology, Inc. 

4,758

a

1,148,724

Baxter International, Inc. 

35,626

1,191,690

Becton, Dickinson and Co. 

19,992

4,672,330

Boston Scientific Corp. 

101,700

a

7,831,917

Cardinal Health, Inc. 

16,958

1,667,311

Cencora, Inc. 

11,378

2,563,463

Centene Corp. 

36,916

a

2,447,531

CVS Health Corp. 

86,841

5,128,829

DaVita, Inc. 

3,772

a

522,686

DexCom, Inc. 

27,221

a

3,086,317

Edwards Lifesciences Corp. 

41,547

a

3,837,696

Elevance Health, Inc. 

16,078

8,712,025

GE HealthCare Technologies, Inc. 

29,105

2,267,862

HCA Healthcare, Inc. 

13,381

4,299,048

Henry Schein, Inc. 

9,391

a

601,963

Hologic, Inc. 

16,482

a

1,223,788

Humana, Inc. 

8,264

3,087,844

IDEXX Laboratories, Inc. 

5,679

a

2,766,809

Insulet Corp. 

4,845

a

977,721

Intuitive Surgical, Inc. 

24,537

a

10,915,284

Labcorp Holdings, Inc. 

5,849

1,190,330

McKesson Corp. 

8,992

5,251,688

Medtronic PLC 

91,853

7,229,750

Molina Healthcare, Inc. 

4,079

a

1,212,687

Quest Diagnostics, Inc. 

7,633

1,044,805

ResMed, Inc. 

10,076

1,928,748

Solventum Corp. 

9,974

a

527,425

Steris PLC 

6,747

1,481,236

Stryker Corp. 

23,454

7,980,223

Teleflex, Inc. 

3,466

729,004

8

Description

Shares

Value ($)

Common Stocks - 98.0% (continued)

Health Care Equipment & Services - 4.7%  (continued)

The Cigna Group 

19,651

6,496,031

The Cooper Companies, Inc. 

13,931

1,216,176

UnitedHealth Group, Inc. 

63,668

32,423,566

Universal Health Services, Inc., Cl. B 

4,128

763,391

Zimmer Biomet Holdings, Inc. 

14,231

1,544,490

152,474,917

Household & Personal Products - 1.3% 

Church & Dwight Co., Inc. 

17,107

1,773,654

Colgate-Palmolive Co. 

56,754

5,507,408

Kenvue, Inc. 

131,777

2,395,706

Kimberly-Clark Corp. 

23,465

3,242,863

The Clorox Company 

8,591

1,172,414

The Estee Lauder Companies, Inc., Cl. A 

16,119

1,715,062

The Procter & Gamble Company 

163,264

26,925,499

42,732,606

Insurance - 2.0% 

Aflac, Inc. 

35,769

3,194,529

American International Group, Inc. 

45,910

3,408,358

Aon PLC, Cl. A 

14,927

4,382,269

Arch Capital Group Ltd. 

26,084

a

2,631,615

Arthur J. Gallagher & Co. 

15,248

3,953,959

Assurant, Inc. 

3,296

547,960

Brown & Brown, Inc. 

16,479

1,473,387

Chubb Ltd. 

28,089

7,164,942

Cincinnati Financial Corp. 

10,936

1,291,542

Everest Group Ltd. 

2,990

1,139,250

Globe Life, Inc. 

5,121

421,356

Loews Corp. 

12,005

897,254

Marsh & McLennan Cos., Inc. 

34,084

7,182,180

MetLife, Inc. 

41,322

2,900,391

Principal Financial Group, Inc. 

15,206

1,192,911

Prudential Financial, Inc. 

25,121

2,943,930

The Allstate Corp. 

18,463

2,947,803

The Hartford Financial Services Group, Inc. 

20,469

2,057,953

The Progressive Corp. 

40,516

8,415,578

The Travelers Companies, Inc. 

15,766

3,205,858

W.R. Berkley Corp. 

13,999

1,100,041

Willis Towers Watson PLC 

7,156

1,875,874

64,328,940

Materials - 2.1% 

Air Products & Chemicals, Inc. 

15,378

3,968,293

Albemarle Corp. 

7,972

b

761,485

Amcor PLC 

102,766

1,005,051

Avery Dennison Corp. 

5,714

1,249,366

Ball Corp. 

21,635

1,298,533

Celanese Corp. 

6,833

921,703

CF Industries Holdings, Inc. 

12,720

942,806

Corteva, Inc. 

48,713

2,627,579

Dow, Inc. 

48,628

2,579,715

DuPont de Nemours, Inc. 

28,797

2,317,871

Eastman Chemical Co. 

7,944

778,274

9

Statement of Investments (Unaudited) (continued)

Description

Shares

Value ($)

Common Stocks - 98.0% (continued)

Materials - 2.1%  (continued)

Ecolab, Inc. 

17,581

4,184,278

FMC Corp. 

7,563

435,251

Freeport-McMoRan, Inc. 

99,359

4,828,847

International Flavors & Fragrances, Inc. 

17,664

1,681,789

International Paper Co. 

23,183

1,000,346

Linde PLC 

33,254

14,592,188

LyondellBasell Industries NV, Cl. A 

17,963

1,718,341

Martin Marietta Materials, Inc. 

4,279

2,318,362

Newmont Corp. 

79,784

3,340,556

Nucor Corp. 

16,669

2,635,036

Packaging Corp. of America 

6,089

1,111,608

PPG Industries, Inc. 

16,281

2,049,615

Steel Dynamics, Inc. 

10,458

1,354,311

The Mosaic Company 

23,447

677,618

The Sherwin-Williams Company 

16,136

4,815,466

Vulcan Materials Co. 

9,144

2,273,930

WestRock Co. 

18,107

910,058

68,378,276

Media & Entertainment - 8.3% 

Alphabet, Inc., Cl. A 

406,337

74,014,285

Alphabet, Inc., Cl. C 

338,046

62,004,397

Charter Communications, Inc., Cl. A 

6,715

a,b

2,007,516

Comcast Corp., Cl. A 

270,766

10,603,197

Electronic Arts, Inc. 

16,659

2,321,098

Fox Corp., Cl. A 

17,373

597,110

Fox Corp., Cl. B 

7,258

232,401

Live Nation Entertainment, Inc. 

9,835

a

921,933

Match Group, Inc. 

18,619

a

565,645

Meta Platforms, Inc., Cl. A 

151,594

76,436,727

Netflix, Inc. 

29,808

a

20,116,823

News Corporation, Cl. A 

25,770

710,479

News Corporation, Cl. B 

9,399

266,838

Omnicom Group, Inc. 

13,649

1,224,315

Paramount Global, Cl. B 

36,618

b

380,461

Take-Two Interactive Software, Inc. 

10,987

a

1,708,369

The Interpublic Group of Companies, Inc. 

26,109

759,511

The Walt Disney Company 

126,110

12,521,462

Warner Bros Discovery, Inc. 

157,490

a

1,171,726

268,564,293

Pharmaceuticals, Biotechnology & Life Sciences - 6.8% 

AbbVie, Inc. 

122,155

20,952,026

Agilent Technologies, Inc. 

20,272

2,627,859

Amgen, Inc. 

37,108

11,594,395

Biogen, Inc. 

10,248

a

2,375,691

Bio-Rad Laboratories, Inc., Cl. A 

1,448

a

395,463

Bio-Techne Corp. 

10,898

780,842

Bristol-Myers Squibb Co. 

140,226

5,823,586

Catalent, Inc. 

12,519

a

703,943

Charles River Laboratories International, Inc. 

3,532

a

729,641

Danaher Corp. 

45,601

11,393,410

Eli Lilly & Co. 

55,226

50,000,516

10

Description

Shares

Value ($)

Common Stocks - 98.0% (continued)

Pharmaceuticals, Biotechnology & Life Sciences - 6.8%  (continued)

Gilead Sciences, Inc. 

86,183

5,913,016

Incyte Corp. 

13,403

a

812,490

IQVIA Holdings, Inc. 

12,489

a

2,640,674

Johnson & Johnson 

166,483

24,333,155

Merck & Co., Inc. 

175,208

21,690,750

Mettler-Toledo International, Inc. 

1,463

a

2,044,674

Moderna, Inc. 

22,949

a

2,725,194

Pfizer, Inc. 

391,990

10,967,880

Regeneron Pharmaceuticals, Inc. 

7,337

a

7,711,407

Revvity, Inc. 

8,180

857,755

Thermo Fisher Scientific, Inc. 

26,405

14,601,965

Vertex Pharmaceuticals, Inc. 

17,851

a

8,367,121

Viatris, Inc. 

85,939

913,532

Waters Corp. 

4,192

a

1,216,183

West Pharmaceutical Services, Inc. 

4,915

1,618,952

Zoetis, Inc. 

31,564

5,471,935

219,264,055

Real Estate Management & Development - .1% 

CBRE Group, Inc., Cl. A 

20,986

a

1,870,062

CoStar Group, Inc. 

28,512

a

2,113,880

3,983,942

Semiconductors & Semiconductor Equipment - 11.8% 

Advanced Micro Devices, Inc. 

111,809

a

18,136,538

Analog Devices, Inc. 

34,305

7,830,459

Applied Materials, Inc. 

57,478

13,564,233

Broadcom, Inc. 

30,134

48,381,041

Enphase Energy, Inc. 

9,396

a

936,875

First Solar, Inc. 

7,405

a

1,669,531

Intel Corp. 

294,480

9,120,046

KLA Corp. 

9,314

7,679,486

Lam Research Corp. 

9,044

9,630,503

Microchip Technology, Inc. 

37,382

3,420,453

Micron Technology, Inc. 

76,603

10,075,593

Monolithic Power Systems, Inc. 

3,369

2,768,240

NVIDIA Corp. 

1,701,603

210,216,035

NXP Semiconductors NV 

17,667

4,754,013

ON Semiconductor Corp. 

30,412

a

2,084,743

Qorvo, Inc. 

7,063

a

819,591

Qualcomm, Inc. 

77,338

15,404,183

Skyworks Solutions, Inc. 

11,532

1,229,081

Teradyne, Inc. 

10,736

1,592,041

Texas Instruments, Inc. 

62,983

12,252,083

381,564,768

Software & Services - 11.8% 

Accenture PLC, Cl. A 

43,493

13,196,211

Adobe, Inc. 

30,991

a

17,216,740

Akamai Technologies, Inc. 

10,858

a

978,089

Ansys, Inc. 

6,039

a

1,941,538

Autodesk, Inc. 

14,751

a

3,650,135

Cadence Design Systems, Inc. 

18,825

a

5,793,394

Cognizant Technology Solutions Corp., Cl. A 

34,056

2,315,808

11

Statement of Investments (Unaudited) (continued)

Description

Shares

Value ($)

Common Stocks - 98.0% (continued)

Software & Services - 11.8%  (continued)

CrowdStrike Holdings, Inc., Cl. A 

15,957

a

6,114,563

EPAM Systems, Inc. 

3,691

a

694,314

Fair Isaac Corp. 

1,709

a

2,544,120

Fortinet, Inc. 

43,725

a

2,635,306

Gartner, Inc. 

5,340

a

2,397,980

Gen Digital, Inc. 

38,953

973,046

GoDaddy, Inc., Cl. A 

9,046

a

1,263,817

International Business Machines Corp. 

63,545

10,990,108

Intuit, Inc. 

19,368

12,728,843

Microsoft Corp. 

514,134

229,792,191

Oracle Corp. 

110,275

15,570,830

Palo Alto Networks, Inc. 

22,351

a

7,577,213

PTC, Inc. 

8,141

a

1,478,975

Roper Technologies, Inc. 

7,400

4,171,084

Salesforce, Inc. 

67,187

17,273,778

ServiceNow, Inc. 

14,181

a

11,155,767

Synopsys, Inc. 

10,552

a

6,279,073

Tyler Technologies, Inc. 

2,933

a

1,474,654

Verisign, Inc. 

5,917

a

1,052,043

381,259,620

Technology Hardware & Equipment - 8.2% 

Amphenol Corp., Cl. A 

83,094

5,598,043

Apple, Inc. 

997,099

210,008,991

Arista Networks, Inc. 

17,558

a

6,153,728

CDW Corp. 

9,308

2,083,503

Cisco Systems, Inc. 

280,105

13,307,789

Corning, Inc. 

53,331

2,071,909

F5, Inc. 

4,048

a

697,187

Hewlett Packard Enterprise Co. 

89,928

1,903,776

HP, Inc. 

59,458

2,082,219

Jabil, Inc. 

8,469

921,343

Juniper Networks, Inc. 

22,918

835,590

Keysight Technologies, Inc. 

11,953

a

1,634,573

Motorola Solutions, Inc. 

11,525

4,449,226

NetApp, Inc. 

14,276

1,838,749

Seagate Technology Holdings PLC 

13,589

b

1,403,336

Super Micro Computer, Inc. 

3,484

a

2,854,615

TE Connectivity Ltd. 

21,300

3,204,159

Teledyne Technologies, Inc. 

3,226

a

1,251,623

Trimble, Inc. 

16,932

a

946,837

Western Digital Corp. 

22,562

a

1,709,523

Zebra Technologies Corp., Cl. A 

3,518

a

1,086,816

266,043,535

Telecommunication Services - .9% 

AT&T, Inc. 

496,000

9,478,560

T-Mobile US, Inc. 

35,668

6,283,988

Verizon Communications, Inc. 

291,177

12,008,139

27,770,687

Transportation - 1.5% 

American Airlines Group, Inc. 

46,150

a,b

522,879

C.H. Robinson Worldwide, Inc. 

8,100

713,772

12

Description

Shares

Value ($)

Common Stocks - 98.0% (continued)

Transportation - 1.5%  (continued)

CSX Corp. 

135,233

4,523,544

Delta Air Lines, Inc. 

43,883

2,081,810

Expeditors International of Washington, Inc. 

9,799

1,222,817

FedEx Corp. 

15,706

4,709,287

J.B. Hunt Transport Services, Inc. 

5,678

908,480

Norfolk Southern Corp. 

15,628

3,355,175

Old Dominion Freight Line, Inc. 

12,247

2,162,820

Southwest Airlines Co. 

41,422

b

1,185,083

Uber Technologies, Inc. 

144,544

a

10,505,458

Union Pacific Corp. 

42,206

9,549,530

United Airlines Holdings, Inc. 

22,745

a

1,106,772

United Parcel Service, Inc., Cl. B 

50,396

6,896,693

49,444,120

Utilities - 2.2% 

Alliant Energy Corp. 

17,725

902,202

Ameren Corp. 

18,192

1,293,633

American Electric Power Co., Inc. 

36,544

3,206,371

American Water Works Co., Inc. 

13,366

1,726,353

Atmos Energy Corp. 

10,238

b

1,194,263

CenterPoint Energy, Inc. 

44,401

1,375,543

CMS Energy Corp. 

21,297

1,267,810

Consolidated Edison, Inc. 

23,923

2,139,195

Constellation Energy Corp. 

21,807

4,367,288

Dominion Energy, Inc. 

57,980

2,841,020

DTE Energy Co. 

14,375

1,595,769

Duke Energy Corp. 

53,388

5,351,079

Edison International 

26,898

1,931,545

Entergy Corp. 

14,874

1,591,518

Evergy, Inc. 

16,528

875,488

Eversource Energy 

24,729

1,402,382

Exelon Corp. 

68,436

2,368,570

FirstEnergy Corp. 

36,205

1,385,565

NextEra Energy, Inc. 

142,123

10,063,730

NiSource, Inc. 

31,012

893,456

NRG Energy, Inc. 

14,352

1,117,447

PG&E Corp. 

148,142

2,586,559

Pinnacle West Capital Corp. 

7,570

578,197

PPL Corp. 

51,034

1,411,090

Public Service Enterprise Group, Inc. 

34,184

2,519,361

Sempra 

43,692

3,323,214

The AES Corp. 

49,717

873,528

The Southern Company 

75,638

5,867,240

Vistra Corp. 

22,512

1,935,582

WEC Energy Group, Inc. 

21,935

1,721,020

Xcel Energy, Inc. 

38,437

2,052,920

71,758,938

Total Common Stocks (cost $644,693,260)

3,171,249,807

13

Statement of Investments (Unaudited) (continued)

Description

1-Day
Yield (%)

Shares

Value ($)

Investment Companies - 1.9% 

Registered Investment Companies - 1.9% 

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares 
(cost $61,386,978)

5.42

61,386,978

d

61,386,978

Total Investments (cost $706,080,238)

99.9%

3,232,636,785

Cash and Receivables (Net)

.1%

2,552,213

Net Assets

100.0%

3,235,188,998

a Non-income producing security.

b Security, or portion thereof, on loan. At June 30, 2024, the value of the fund's securities on loan was $30,437,920 and the value of the collateral was $31,430,781, consisting of U.S. Government & Agency securities. In addition, the value of collateral may include pending sales that are also on loan.

c Investment in real estate investment trust within the United States.

d Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company's prospectus.

Affiliated Issuers

Description

Value ($)
12/31/2023

Purchases ($)†

Sales ($)

Value ($)
6/30/2024

Dividends/
Distributions ($)

Registered Investment Companies - 1.9%

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares - 1.9%

60,597,066

228,896,926

(228,107,014)

61,386,978

1,141,531

Investment of Cash Collateral for Securities Loaned - .0%

Dreyfus Institutional Preferred Government Plus Money Market Fund, Institutional Shares - .0%

-

9,180,901

(9,180,901)

-

27,740

††

Total - 1.9%

60,597,066

238,077,827

(237,287,915)

61,386,978

1,169,271

† Includes reinvested dividends/distributions.

†† Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

See notes to financial statements.

Futures 

Description

Number of
Contracts

Expiration

Notional
Value ($)

Market
Value ($)

Unrealized
(Depreciation) ($)

Futures Long 

Standard & Poor's 500 E-mini

236

9/20/2024

65,334,530

65,153,700

(180,830)

Gross Unrealized Depreciation

(180,830)

See notes to financial statements.

14

STATEMENT OF ASSETS AND LIABILITIES

June 30, 2024 (Unaudited)

Cost

Value

Assets ($):

Investments in securities-See Statement of Investments
(including securities on loan, valued at $30,437,920)-Note 1(c):

Unaffiliated issuers

644,693,260

3,171,249,807

Affiliated issuers

61,386,978

61,386,978

Cash

30,499

Cash collateral held by broker-Note 4

2,810,000

Dividends and securities lending income receivable

1,848,860

Receivable for shares of Common Stock subscribed

432,435

Prepaid expenses

67,778

3,237,826,357

Liabilities ($):

Due to BNY Mellon Investment Adviser, Inc. and affiliates-Note 3(c)

669,040

Payable for shares of Common Stock redeemed

1,445,140

Payable for futures variation margin-Note 4

288,266

Directors' fees and expenses payable

24,779

Other accrued expenses

210,134

2,637,359

Net Assets ($)

3,235,188,998

Composition of Net Assets ($):

Paid-in capital

596,302,559

Total distributable earnings (loss)

2,638,886,439

Net Assets ($)

3,235,188,998

Net Asset Value Per Share

Initial Shares

Service Shares

Net Assets ($)

3,172,074,013

63,114,985

Shares Outstanding

42,829,584

849,693

Net Asset Value Per Share ($)

74.06

74.28

See notes to financial statements.

15

STATEMENT OF OPERATIONS

Six Months Ended June 30, 2024 (Unaudited)

Investment Income ($):

Income:

Cash dividends (net of $5,555 foreign taxes withheld at source):

Unaffiliated issuers

21,694,776

Affiliated issuers

1,141,531

Interest

57,451

Income from securities lending-Note 1(c)

27,740

Total Income

22,921,498

Expenses:

Management fee-Note 3(a)

3,787,107

Directors' fees and expenses-Note 3(d)

156,314

Distribution fees-Note 3(b)

75,098

Professional fees

51,435

Prospectus and shareholders' reports

44,639

Loan commitment fees-Note 2

33,801

Chief Compliance Officer fees-Note 3(c)

12,589

Shareholder servicing costs-Note 3(c)

5,158

Registration fees

1,795

Miscellaneous

89,889

Total Expenses

4,257,825

Less-reduction in fees due to earnings credits-Note 3(c)

(359)

Net Expenses

4,257,466

Net Investment Income

18,664,032

Realized and Unrealized Gain (Loss) on Investments-Note 4 ($):

Net realized gain (loss) on investments

123,723,251

Net realized gain (loss) on futures

6,067,732

Net Realized Gain (Loss)

129,790,983

Net change in unrealized appreciation (depreciation) on investments

290,079,389

Net change in unrealized appreciation (depreciation) on futures

(1,462,268)

Net Change in Unrealized Appreciation (Depreciation)

288,617,121

Net Realized and Unrealized Gain (Loss) on Investments

418,408,104

Net Increase in Net Assets Resulting from Operations

437,072,136

See notes to financial statements.

16

STATEMENT OF CHANGES IN NET ASSETS

Six Months Ended
June 30, 2024 (Unaudited)

Year Ended
December 31, 2023

Operations ($):

Net investment income

18,664,032

38,506,599

Net realized gain (loss) on investments

129,790,983

206,177,917

Net change in unrealized appreciation
(depreciation) on investments

288,617,121

389,090,410

Net Increase (Decrease) in Net Assets
Resulting from Operations

437,072,136

633,774,926

Distributions ($):

Distributions to shareholders:

Initial Shares

(216,417,363)

(137,928,035)

Service Shares

(4,184,395)

(2,652,218)

Total Distributions

(220,601,758)

(140,580,253)

Capital Stock Transactions ($):

Net proceeds from shares sold:

Initial Shares

148,878,094

306,945,346

Service Shares

666,735

1,590,985

Distributions reinvested:

Initial Shares

216,417,363

137,928,035

Service Shares

4,184,395

2,652,218

Cost of shares redeemed:

Initial Shares

(311,870,073)

(561,929,172)

Service Shares

(3,769,116)

(7,336,442)

Increase (Decrease) in Net Assets
from Capital Stock Transactions

54,507,398

(120,149,030)

Total Increase (Decrease) in Net Assets

270,977,776

373,045,643

Net Assets ($):

Beginning of Period

2,964,211,222

2,591,165,579

End of Period

3,235,188,998

2,964,211,222

Capital Share Transactions (Shares):

Initial Shares

Shares sold

2,064,892

4,955,857

Shares issued for distributions reinvested

3,031,337

2,275,854

Shares redeemed

(4,342,496)

(9,092,363)

Net Increase (Decrease) in Shares Outstanding

753,733

(1,860,652)

Service Shares

Shares sold

9,307

25,410

Shares issued for distributions reinvested

58,455

43,750

Shares redeemed

(52,316)

(116,809)

Net Increase (Decrease) in Shares Outstanding

15,446

(47,649)

See notes to financial statements.

17

FINANCIAL HIGHLIGHTS

The following tables describe the performance for each share class for the fiscal periods indicated. All information (except portfolio turnover rate) reflects financial results for a single fund share. Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. The fund's total returns do not reflect expenses associated with variable annuity or insurance contracts.

Six Months Ended

June 30, 2024

Year Ended December 31,

Initial Shares

(Unaudited)

2023

2022

2021

2020

2019

Per Share Data ($):

Net asset value,
beginning of period

69.08

57.81

77.81

64.27

59.95

48.98

Investment Operations:

Net investment incomea

.43

.89

.85

.80

.88

.96

Net realized and unrealized
gain (loss) on investments

9.80

13.62

(14.27)

16.71

8.01

13.79

Total from
Investment Operations

10.23

14.51

(13.42)

17.51

8.89

14.75

Distributions:

Dividends from
net investment income

(.44)

(.90)

(.85)

(.81)

(.90)

(.95)

Dividends from net realized
gain on investments

(4.81)

(2.34)

(5.73)

(3.16)

(3.67)

(2.83)

Total Distributions

(5.25)

(3.24)

(6.58)

(3.97)

(4.57)

(3.78)

Net asset value, end of period

74.06

69.08

57.81

77.81

64.27

59.95

Total Return (%)

15.12b

25.93

(18.31)

28.40

18.01

31.18

Ratios/Supplemental Data (%):

Ratio of total expenses
to average net assets

.27c

.27

.26

.26

.27

.27

Ratio of net expenses
to average net assets

.27c

.27

.26

.26

.27

.27

Ratio of net investment income

to average net assets

1.21c

1.42

1.35

1.14

1.57

1.75

Portfolio Turnover Rate

1.01b

2.32

1.85

3.62

3.58

2.94

Net Assets,
end of period ($ x 1,000)

3,172,074

2,906,425

2,540,045

3,272,702

2,718,274

2,447,498

a Based on average shares outstanding.

b Not annualized.

c Annualized.

See notes to financial statements.

18

Six Months Ended

June 30, 2024

Year Ended December 31,

Service Shares

(Unaudited)

2023

2022

2021

2020

2019

Per Share Data ($):

Net asset value,
beginning of period

69.27

57.97

78.00

64.37

60.03

49.05

Investment Operations:

Net investment incomea

.34

.73

.69

.63

.74

.82

Net realized and unrealized
gain (loss) on investments

9.83

13.65

(14.30)

16.75

8.02

13.80

Total from
Investment Operations

10.17

14.38

(13.61)

17.38

8.76

14.62

Distributions:

Dividends from
net investment income

(.35)

(.74)

(.69)

(.59)

(.75)

(.81)

Dividends from net realized
gain on investments

(4.81)

(2.34)

(5.73)

(3.16)

(3.67)

(2.83)

Total Distributions

(5.16)

(3.08)

(6.42)

(3.75)

(4.42)

(3.64)

Net asset value, end of period

74.28

69.27

57.97

78.00

64.37

60.03

Total Return (%)

14.98b

25.60

(18.52)

28.11

17.71

30.84

Ratios/Supplemental Data (%):

Ratio of total expenses
to average net assets

.52c

.52

.51

.51

.52

.52

Ratio of net expenses
to average net assets

.52c

.52

.51

.51

.52

.52

Ratio of net investment income
to average net assets

.96c

1.17

1.10

.89

1.32

1.50

Portfolio Turnover Rate

1.01b

2.32

1.85

3.62

3.58

2.94

Net Assets,
end of period ($ x 1,000)

63,115

57,786

51,121

68,792

195,831

194,109

a Based on average shares outstanding.

b Not annualized.

c Annualized.

See notes to financial statements.

19

NOTES TO FINANCIAL STATEMENTS (Unaudited)

NOTE 1-Significant Accounting Policies:

BNY Mellon Stock Index Fund, Inc. (the "fund"), which is registered under the Investment Company Act of 1940, as amended (the "Act"), is a diversified open-end management investment company. The fund is only offered to separate accounts established by insurance companies to fund variable annuity contracts and variable life insurance policies. The fund's investment objective is to seek to match the total return of the S&P 500®Index. BNY Mellon Investment Adviser, Inc. (the "Adviser"), a wholly-owned subsidiary of The Bank of New York Mellon Corporation ("BNY"), serves as the fund's investment adviser. Mellon Investments Corporation, an indirect wholly-owned subsidiary of BNY and an affiliate of the Adviser, which serves as the fund's index manager (the "Index Manager").

BNY Mellon Securities Corporation (the "Distributor"), a wholly-owned subsidiary of the Adviser, is the distributor of the fund's shares, which are sold without a sales charge. The fund is authorized to issue 400 million shares of $.001 par value Common Stock in each of the following classes of shares: Initial shares (250 million shares authorized) and Service shares (150 million shares authorized). Initial shares are subject to a Shareholder Services Plan fee and Service shares are subject to a Distribution Plan fee. Each class of shares has identical rights and privileges, except with respect to the Distribution Plan, Shareholder Services Plan and the expenses borne by each class, the allocation of certain transfer agency costs and certain voting rights. Income, expenses (other than expenses attributable to a specific class), and realized and unrealized gains or losses on investments are allocated to each class of shares based on its relative net assets.

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

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

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

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

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

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

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

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

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

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

20

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 equity securities are valued at the last sales price on the securities exchange or national securities market on which such securities are primarily traded. Securities listed on the National Market System for which market quotations are available are valued at the official closing price or, if there is no official closing price that day, at the last sales price. For open short positions, asked prices are used for valuation purposes. Bid price is used when no asked price is available. Registered investment companies that are not traded on an exchange are valued at their net asset value. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.

Securities not listed on an exchange or the national securities market, or securities for which there were no transactions, are valued at the average of the most recent bid and asked prices. These securities are generally categorized within Level 2 of the fair value hierarchy.

Fair valuing of securities may be determined with the assistance of a pricing service using calculations based on indices of domestic securities and other appropriate indicators, such as prices of relevant American Depositary Receipts and futures. Utilizing these techniques may result in transfers between Level 1 and 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.

Futures, 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.

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:†

Equity Securities - Common Stocks

3,171,249,807

-

-

3,171,249,807

Investment Companies

61,386,978

-

-

61,386,978

Liabilities ($) 

Other Financial Instruments:

Futures††

(180,830)

-

-

(180,830)

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

†† Amount shown represents unrealized appreciation (depreciation) at period end, but only variation margin on exchange-traded and centrally cleared derivatives, if any, are reported in the Statement of Assets and Liabilities.

(b) Foreign taxes: The fund may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the fund invests.

21

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

These foreign taxes, if any, are paid by the fund and are reflected in the Statement of Operations, if applicable. Foreign taxes payable or deferred or those subject to reclaims as of June 30, 2024, if any, are disclosed in the fund's Statement of Assets and Liabilities.

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

Pursuant to a securities lending agreement with BNY, the fund may lend securities to qualified institutions. It is the fund's policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral equivalent to at least 100% of the market value of securities on loan is maintained at all times. Collateral is either in the form of cash, which can be invested in certain money market mutual funds managed by the Adviser, or U.S. Government and Agency securities. Any non-cash collateral received cannot be sold or re-pledged by the fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in the fund's Statement of Investments. The fund is entitled to receive all dividends, interest and distributions on securities loaned, in addition to income earned as a result of the lending transaction. Should a borrower fail to return the securities in a timely manner, BNY is required to replace the securities for the benefit of the fund or credit the fund with the market value of the unreturned securities and is subrogated to the fund's rights against the borrower and the collateral. Additionally, the contractual maturity of security lending transactions are on an overnight and continuous basis. During the period ended June 30, 2024, BNY earned $3,782 from the lending of the fund's portfolio securities, pursuant to the securities lending agreement.

For financial reporting purposes, the fund elects not to offset assets and liabilities subject to a securities lending agreement, if any, in the Statement of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statement of Assets and Liabilities. As of June 30, 2024, the fund had securities lending and the impact of netting of assets and liabilities and the offsetting of collateral pledged or received, if any, based on contractual netting/set-off provisions in the securities lending agreement are detailed in the following table:

Assets ($)

Liabilities ($)

Securities Lending

30,437,920

-

Total gross amount of assets and
liabilities in the Statement
of Assets and Liabilities

30,437,920

-

Collateral (received)/posted not offset
in the Statement of
Assets and Liabilities

(30,437,920)

1

-

Net amount

-

-

1

The value of the related collateral received by the fund normally exceeded the value of the securities loaned by the fund pursuant to the securities lending agreement. In addition, the value of collateral may include pending sales that are also on loan. See Statement of Investments for detailed information regarding collateral received for open securities lending.

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

(e) Market Risk:The value of the securities in which the fund invests may be affected by political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed-income markets may negatively affect many issuers, which could adversely affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies world-wide.

Indexing Strategy Risk:The fund uses an indexing strategy. It does not attempt to manage market volatility, use defensive strategies or reduce the effects of any long-term periods of poor index performance. The correlation between fund and index performance may be affected by the fund's expenses, changes in securities markets, changes in the composition of the index and the timing of purchases and redemptions of fund shares.

(f) Dividends and distributions to shareholders: Dividends and distributions are recorded on the ex-dividend date. Dividends from net investment income are normally declared and paid quarterly. Dividends from net realized capital gains, if any, are normally

22

declared and paid annually, but the fund may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended (the "Code"). To the extent that net realized capital gains can be offset by capital loss carryovers, it is the policy of the fund not to distribute such gains. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

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

As of and during the period ended June 30, 2024, the fund did not have any liabilities for any uncertain tax positions. The fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During the period ended June 30, 2024, the fund did not incur any interest or penalties.

Each tax year in the three-year period ended December 31, 2023 remains subject to examination by the Internal Revenue Service and state taxing authorities.

The tax character of distributions paid to shareholders during the fiscal year ended December 31, 2023 was as follows: ordinary income $38,604,101 and long-term capital gains $101,976,152. The tax character of current year distributions will be determined at the end of the current fiscal year.

NOTE 2-Bank Lines of Credit:

The fund participates with other long-term open-end funds managed by the Adviser in a $738 million unsecured credit facility led by Citibank, N.A. (the "Citibank Credit Facility") and a $300 million unsecured credit facility provided by BNY (the "BNY Credit Facility"), each to be utilized primarily for temporary or emergency purposes, including the financing of redemptions (each, a "Facility"). The Citibank Credit Facility is available in two tranches: (i) Tranche A is in an amount equal to $618 million and is available to all long-term open-ended funds, including the fund, and (ii) Tranche B is an amount equal to $120 million and is available only to BNY Mellon Floating Rate Income Fund, a series of BNY Mellon Investment Funds IV, Inc. In connection therewith, the fund has agreed to pay its pro rata portion of commitment fees for Tranche A of the Citibank Credit Facility and the BNY Credit Facility. Interest is charged to the fund based on rates determined pursuant to the terms of the respective Facility at the time of borrowing. During the period ended June 30, 2024, the fund did not borrow under the Facilities.

NOTE 3-Management Fee, Index-Management Fee and Other Transactions with Affiliates:

(a) Pursuant to a management agreement with the Adviser, the management fee is computed at the annual rate of .245% of the value of the fund's average daily net assets and is payable monthly.

Pursuant to an index-management agreement (the "Index Agreement"), the Adviser has agreed to pay the Index Manager a monthly index-management fee at the annual rate of .095% of the value of the fund's average daily net assets. Pursuant to the Index Agreement, the Index Manager pays The Bank of New York Mellon (the "Custodian"), a subsidiary of BNY and an affiliate of the Adviser, for its services to the fund.

(b) Under the Distribution Plan adopted pursuant to Rule 12b-1 under the Act, Service shares pay the Distributor for distributing its shares, for servicing and/or maintaining Service shares' shareholder accounts and for advertising and marketing for Service shares. The Distribution Plan provides for payments to be made at an annual rate of .25% of the value of the Service shares' average daily net assets. The Distributor may make payments to Participating Insurance Companies and to brokers and dealers acting as principal underwriter for their variable insurance products. The fees payable under the Distribution Plan are payable without regard to actual expenses incurred. During the period ended June 30, 2024, Service shares were charged $75,098 pursuant to the Distribution Plan.

(c)Under the Shareholder Services Plan, Initial shares reimburse the Distributor at an amount not to exceed an annual rate of .25% of the value of its average daily net assets for certain allocated expenses with respect to servicing and/or maintaining Initial shares' shareholder accounts. During the period ended June 30, 2024,Initial shares were charged 4,558 pursuant to the Shareholder Services Plan.

The fund has an arrangement with BNY Mellon Transfer, Inc., (the "Transfer Agent"), a subsidiary of BNY and an affiliate of the Adviser, whereby the fund may receive earnings credits when positive cash balances are maintained, which are used to offset

23

NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)

Transfer Agent fees. For financial reporting purposes, the fund includes transfer agent net earnings credits, if any, as an expense offset in the Statement of Operations.

The fund has an arrangement with the Custodian whereby the fund will receive interest income or be charged overdraft fees when cash balances are maintained. For financial reporting purposes, the fund includes this interest income and overdraft fees, if any, as interest income in the Statement of Operations.

The fund compensates the Transfer Agent, under a transfer agency agreement, for providing transfer agency and cash management services for the fund. The majority of Transfer Agent fees are comprised of amounts paid on a per account basis, while cash management fees are related to fund subscriptions and redemptions. During the period ended June 30, 2024, the fund was charged $403 for transfer agency services. These fees are included in Shareholder servicing costs in the Statement of Operations. These fees were partially offset by earnings credits of $359.

During the period ended June 30, 2024, the fund was charged $12,589 for services performed by the fund's Chief Compliance Officer and his staff. These fees are included in Chief Compliance Officer fees in the Statement of Operations.

The components of "Due to BNY Mellon Investment Adviser, Inc. and affiliates" in the Statement of Assets and Liabilities consist of: Management fee of $650,182, Distribution Plan fees of $12,852, Shareholder Services Plan fees of $1,000, Chief Compliance Officer fees of $3,519 and Transfer Agent fees of $1,487.

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

NOTE 4-Securities Transactions:

The aggregate amount of purchases and sales of investment securities, excluding short-term securities and futures, during the period ended June 30, 2024, amounted to $30,972,733 and $175,807,728, respectively.

Derivatives: A derivative is a financial instrument whose performance is derived from the performance of another asset. Rule 18f-4 under the Act regulates the use of derivatives transactions for certain funds registered under the Act. The fund is deemed a "limited" derivatives user under the rule and is required to limit its derivatives exposure so that the total notional value of applicable derivatives does not exceed 10% of fund's net assets, and is subject to certain reporting requirements. Each type of derivative instrument that was held by the fund during the period ended June 30, 2024 is discussed below.

Futures: In the normal course of pursuing its investment objective, the fund is exposed to market risk, including equity price risk, as a result of changes in value of underlying financial instruments. The fund invests in futures in order to manage its exposure to or protect against changes in the market. A futures contract represents a commitment for the future purchase or a sale of an asset at a specified date. Upon entering into such contracts, these investments require initial margin deposits with a counterparty, which consist of cash or cash equivalents. The amount of these deposits is determined by the exchange or Board of Trade on which the contract is traded and is subject to change. Accordingly, variation margin payments are received or made to reflect daily unrealized gains or losses which are recorded in the Statement of Operations. When the contracts are closed, the fund recognizes a realized gain or loss which is reflected in the Statement of Operations. There is minimal counterparty credit risk to the fund with futures since they are exchange traded, and the exchange guarantees the futures against default. Futures open at June 30, 2024 are set forth in the Statement of Investments.

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

24

Fair value of derivative instruments as of June 30, 2024 is shown below:

Derivative
Assets ($)

Derivative
Liabilities ($)

Equity risk

-

Equity risk

(180,830)

1

Gross fair value of
derivative contracts

-

(180,830)

Statement of Assets and Liabilities location:

1

Includes cumulative appreciation (depreciation) on futures as reported in the Statement of Investments, but only the unpaid variation margin is reported
in the Statement of Assets and Liabilities.

The effect of derivative instruments in the Statement of Operations during the period ended June 30, 2024 is shown below:

Amount of realized gain (loss) on derivatives recognized in income ($)

Underlying
risk

Futures

1

Total

Equity

6,067,732

6,067,732

Total

6,067,732

6,067,732

Net change in unrealized appreciation (depreciation)
on derivatives recognized in income ($)

Underlying
risk

Futures

2

Total

Equity

(1,462,268)

(1,462,268)

Total

(1,462,268)

(1,462,268)

Statement of Operations location:

1

Net realized gain (loss) on futures.

2

Net change in unrealized appreciation (depreciation) on futures.

The following table summarizes the monthly average market value of derivatives outstanding during the period ended June 30, 2024:

Average Market Value ($)

Futures:

Equity Futures Long

51,701,714

At June 30, 2024, accumulated net unrealized appreciation on investments inclusive of derivative contracts was $2,526,375,717, consisting of $2,560,412,938 gross unrealized appreciation and $34,037,221 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).

25

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment

Companies. (Unaudited)

N/A

26

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

N/A

27

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

Each board member also serves as a board member of other funds in the BNY Mellon Family of Funds complex. Annual retainer fees and attendance fees are allocated to each fund based on net assets. Directors fees paid by the fund are within Item 7. Statement of Operations as Directors' fees and expenses.

28

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

At a meeting of the fund's Board of Directors (the "Board") held on March 5-6, 2024, the Board considered the renewal of the fund's Management Agreement, pursuant to which the Adviser provides the fund with investment advisory and administrative services, and the Index Management Agreement (together with the Management Agreement, the "Agreements"), pursuant to which Mellon Investments Corporation (the "Index Manager") provides day-to-day management of the fund's investments. The Board members, none of whom are "interested persons" (as defined in the Investment Company Act of 1940, as amended) of the fund, were assisted in their review by independent legal counsel and met with counsel in executive session separate from representatives of the Adviser and Index Manager. In considering the renewal of the Agreements, the Board considered several factors that it believed to be relevant, including those discussed below. The Board did not identify any one factor as dispositive, and each Board member may have attributed different weights to the factors considered.

Analysis of Nature, Extent, and Quality of Services Provided to the Fund. The Board considered information provided to it at the meeting and in previous presentations from representatives of the Adviser regarding the nature, extent, and quality of the services provided to funds in the BNY Mellon fund complex, including the fund. The Adviser provided the number of open accounts in the fund, the fund's asset size and the allocation of fund assets among distribution channels. The Adviser also had previously provided information regarding the diverse intermediary relationships and distribution channels of funds in the BNY Mellon fund complex (such as intermediary, in which intermediaries typically are paid by the fund and/or the Adviser) and the Adviser's corresponding need for broad, deep, and diverse resources to be able to provide ongoing shareholder services to each intermediary or distribution channel, as applicable to the fund.

The Board also considered research support available to, and portfolio management capabilities of, the fund's portfolio management personnel and that the Adviser also provides oversight of day-to-day fund operations, including fund accounting and administration and assistance in meeting legal and regulatory requirements. The Board also considered the Adviser's extensive administrative, accounting and compliance infrastructures, as well as the Adviser's supervisory activities over the Index Manager.

Comparative Analysis of the Fund's Performance and Management Fee and Expense Ratio. The Board reviewed reports prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data based on classifications provided by Thomson Reuters Lipper ("Lipper"), which included information comparing (1) the performance of the fund's Initial shares with the performance of a group of S&P 500 index funds underlying variable insurance products ("VIPs") selected by Broadridge as comparable to the fund (the "Performance Group") and with a broader group of funds consisting of all S&P 500 index funds underlying VIPs (the "Performance Universe"), all for various periods ended December 31, 2023, and (2) the fund's actual and contractual management fees and total expenses with those of the same group of funds in the Performance Group (the "Expense Group") and with a broader group of funds consisting of all S&P 500 index funds underlying VIPs with similar
12b-1/non-12b-1 structures, excluding outliers (the "Expense Universe"), the information for which was derived in part from fund financial statements available to Broadridge as of the date of its analysis. The Adviser previously had furnished the Board with a description of the methodology Broadridge used to select the Performance Group and Performance Universe and the Expense Group and Expense Universe.

Performance Comparisons. Representatives of the Adviser stated that the usefulness of performance comparisons may be affected by a number of factors, including different investment limitations and policies that may be applicable to the fund and comparison funds and the end date selected. The Board also considered the fund's performance in light of overall financial market conditions. The Board discussed with representatives of the Adviser the results of the comparisons and considered that the fund's total return performance was above the Performance Group and Performance Universe medians for all periods. The Adviser also provided a comparison of the fund's calendar year total returns to the returns of the fund's benchmark index. The Board noted that the fund had a four star rating for each of the five- and ten-year periods and a four star overall rating from Morningstar based on Morningstar's risk-adjusted return measures.

Management Fee and Expense Ratio Comparisons. The Board reviewed and considered the contractual management fee rate payable by the fund to the Adviser in light of the nature, extent and quality of the management services and index management services provided by the Adviser and Index Manager, respectively. In addition, the Board reviewed and considered the actual management fee rate paid by the fund over the fund's last fiscal year. The Board also reviewed the range of actual and contractual management fees and total expenses as a percentage of average net assets of the Expense Group and Expense Universe funds and discussed the results of the comparisons.

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The Board considered that the fund's contractual management fee was higher than the Expense Group median contractual management fee, the fund's actual management fee was higher than the Expense Group median and higher than the Expense Universe median actual management fee, and the fund's total expenses were lower than the Expense Group median and lower than the Expense Universe median total expenses. The Board noted, however, that the Expense Group included funds that charged
12b-1 fees and/or non-12b-1 service fees, whereas, the fund's Initial shares are not subject to such fees. Had the 12b-1/non-12b-1 fees applicable to the fund's Service shares been included in the comparison with the Expense Group, the fund's total expenses would have been higher than the Expense Group median and slightly higher than the Expense Universe median total expenses.

Representatives of the Adviser reviewed with the Board the management or investment advisory fees paid to the Adviser or the Index Manager or its affiliates for advising any separate accounts and/or other types of client portfolios that are considered to have similar investment strategies and policies as the fund (the "Similar Clients"), and explained the nature of the Similar Clients. They discussed differences in fees paid and the relationship of the fees paid in light of any differences in the services provided and other relevant factors. The Board considered the relevance of the fee information provided for the Similar Clients to evaluate the appropriateness of the fund's management fee. Representatives of the Adviser noted that there were no other funds advised by the Adviser that are in the same Lipper category as the fund.

The Board considered the fee payable to the Index Manager in relation to the fee payable to the Adviser by the fund and the respective services provided by the Index Manager and the Adviser. The Board also took into consideration that the Index Manager's fee is paid by the Adviser, out of its fee from the fund, and not the fund.

Analysis of Profitability and Economies of Scale. Representatives of the Adviser reviewed the expenses allocated and profit received by the Adviser and its affiliates and the resulting profitability percentage for managing the fund and the aggregate profitability percentage to the Adviser and its affiliates for managing the funds in the BNY Mellon fund complex, and the method used to determine the expenses and profit. The Board concluded that the profitability results were not excessive, given the services rendered and service levels provided by the Adviser and its affiliates. The Board also had been provided with information prepared by an independent consulting firm regarding the Adviser's approach to allocating costs to, and determining the profitability of, individual funds and the entire BNY Mellon fund complex. The consulting firm also had analyzed where any economies of scale might emerge in connection with the management of a fund.

The Board considered, on the advice of its counsel, the profitability analysis (1) as part of its evaluation of whether the fees under the Agreements, considered in relation to the mix of services provided by the Adviser and the Index Manager, including the nature, extent and quality of such services, supported the renewal of the Agreements and (2) in light of the relevant circumstances for the fund and the extent to which economies of scale would be realized if the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders. Representatives of the Adviser stated that, as a result of shared and allocated costs among funds in the BNY Mellon fund complex, the extent of economies of scale could depend substantially on the level of assets in the complex as a whole, so that increases and decreases in complex-wide assets can affect potential economies of scale in a manner that is disproportionate to, or even in the opposite direction from, changes in the fund's asset level. The Board also considered potential benefits to the Adviser and the Index Manager from acting as investment adviser and index manager, respectively, and took into consideration that there were no soft dollar arrangements in effect for trading the fund's investments.

At the conclusion of these discussions, the Board agreed that it had been furnished with sufficient information to make an informed business decision with respect to the renewal of the Agreements. Based on the discussions and considerations as described above, the Board concluded and determined as follows.

· The Board concluded that the nature, extent and quality of the services provided by the Adviser and the Index Manager are adequate and appropriate.

· The Board was satisfied with the fund's performance.

· The Board concluded that the fees paid to the Adviser and the Index Manager continued to be appropriate under the circumstances and in light of the factors and the totality of the services provided as discussed above.

· The Board determined that the economies of scale which may accrue to the Adviser and its affiliates in connection with the management of the fund had been adequately considered by the Adviser in connection with the fee rate charged to the fund

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pursuant to the Management Agreement and that, to the extent in the future it were determined that material economies of scale had not been shared with the fund, the Board would seek to have those economies of scale shared with the fund.

In evaluating the Agreements, the Board considered these conclusions and determinations and also relied on its previous knowledge, gained through meetings and other interactions with the Adviser and its affiliates and the Index Manager, of the Adviser and the Index Manager and the services provided to the fund by the Adviser and the Index Manager. The Board also relied on information received on a routine and regular basis throughout the year relating to the operations of the fund and the investment management and other services provided under the Agreements, including information on the investment performance of the fund in comparison to similar mutual funds and benchmark performance indices; general market outlook as applicable to the fund; and compliance reports. In addition, the Board's consideration of the contractual fee arrangements for the fund had the benefit of a number of years of reviews of the Agreements for the fund, or substantially similar agreements for other BNY Mellon funds that the Board oversees, during which lengthy discussions took place between the Board and representatives of the Adviser. Certain aspects of the arrangements may receive greater scrutiny in some years than in others, and the Board's conclusions may be based, in part, on its consideration of the fund's arrangements, or substantially similar arrangements for other BNY Mellon funds that the Board oversees, in prior years. The Board determined to renew the Agreements.

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© 2024 BNY Mellon Securities Corporation

Code-0763NCSRSA0624

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

Not applicable.

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

Not applicable.

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

Not applicable.

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

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

Item 16. Controls and Procedures.

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

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

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

Not applicable.

Item 18. Recovery of Erroneously Awarded Compensation.

Not applicable.

Item 19. Exhibits.

(a)(1) Not applicable.

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

(a)(3) Not applicable.

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

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

BNY Mellon Stock Index Fund, Inc.

By: /s/ David J. DiPetrillo

David J. DiPetrillo

President (Principal Executive Officer)

Date: August 6, 2024

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

By: /s/ David J. DiPetrillo

David J. DiPetrillo

President (Principal Executive Officer)

Date: August 6, 2024

By: /s/ James Windels

James Windels

Treasurer (Principal Financial Officer)

Date: August 7, 2024

EXHIBIT INDEX

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

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