BNY Mellon Variable Investment Fund, Opportunistic Small Cap Portfolio

Fund Code 0407
CUSIP 05589U606
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- Service Shares
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Why invest in this Fund?

The fund seeks capital growth.

To pursue this goal, the fund normally invests at least 80% of its net assets in the stocks of small-cap companies with market capitalizations within the range of companies in the Russell 2000 Index at the time of purchase. The fund's stock investments may include common stocks, preferred stocks and convertible securities of both U.S. and foreign issuers. Stocks are selected for the fund's portfolio based primarily on bottom-up fundamental analysis.

Min. Class Investment

$1,000

Class Inception Date

12/31/00

Fund Assets

$269,851,583 As of 05/29/25

Class Assets

$17,389,487 As of 05/29/25

Portfolio Turnover Rate

61.91% As of fiscal year end 12/31/24

Benchmark

Russell 2000® Index

Fund Holdings

97 As of 04/30/25

FUND STATUS

Open

Portfolio Managers

Andrew Leger

Portfolio Manager, Newton Investment Management North America, LLC

Managing Fund Since 2021

Joined Firm in 2014

Joined Industry in 1998

Fees & Expenses

Variable insurance products have additional fees, charges and expenses. Please consult the applicable variable contract prospectus for more detailed information.

Portfolio

Portfolio Manager/Sub-Investment Adviser

The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser). BNYM Investment Adviser has engaged its affiliate, Newton Investment Management North America, LLC (NIMNA), to serve as the fund's sub-adviser. NIMNA has entered into a sub-sub-investment advisory agreement with its affiliate, Newton Investment Management Limited (NIM), to enable NIM to provide certain advisory services to NIMNA for the benefit of the fund.

Andrew Leger is the fund's primary portfolio manager. Mr. Leger has been a portfolio manager of the fund since September 2021 and is a portfolio manager at NIMNA. He has been employed by NIMNA or a predecessor company of NIMNA since 2014.

Top Holdings

Download Total Holdings

As of 04/30/25

Holdings	% Portfolio Weight
Genius Sports	3.19
Alamos Gold, Cl. A	2.62
Insmed	2.56
Clearway Energy, Cl. C	2.11
First Horizon	2.10
Texas Capital Bancshares	2.08
Baldwin Insurance Group	1.97
Magnite	1.81
Privia Health Group	1.75
SkyWest	1.70

Asset Allocation

Stats & Risks

Main Risks

An investment in the fund is not a bank deposit. It is not insured or guaranteed by the FDIC or any other government agency. It is not a complete investment program.
While stocks have historically been a leading choice of long-term investors, they do fluctuate in price. The value of a shareholder's investment in the fund will go up and down, sometimes dramatically, which means that shareholders could lose money.
Small companies carry additional risks because their earnings tend to be less predictable, their share prices more volatile and their securities less liquid than larger, more established companies. Some of the fund's investments are made in anticipation of future products and services that if delayed or cancelled could cause the company's stock price to drop. The fund may purchase securities of companies in initial public offerings (IPOs). The prices of securities purchased in IPOs can be very volatile.
Please refer to the prospectus for a more complete discussion of the fund's main risks.

Literature

Factsheet, Prospectus and Reports

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Factsheet	Download	Share
Prospectus	Download	Share
Summary Prospectus	Download	Share
SAI	Download	Share
Annual Report - Service Shares	Download	Share
Semi Annual Report - Service Shares	Download	Share
Annual Financials and Other Information	Download	Share
Semi Annual Financials and Other Information	Download	Share
1Q Fiscal Holdings	Download	Share
3Q Fiscal Holdings	Download	Share