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    BNY Mellon Appreciation Fund, Inc.

    Overview

    Why invest in this Fund?

    The fund seeks long-term capital growth consistent with the preservation of capital. Its secondary goal is current income. To pursue these goals, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in common stock. The fund focuses on "blue-chip" companies with total market capitalizations of more than $5 billion at the time of purchase, including multinational companies.
    Min. Class Investment
    $1,000
    Class Inception Date
    08/31/16
    Class Status
    Not available for purchase by individual investors.
    Fund Assets
    $2,049,053,322  As of  08/25/25
    Class Assets
    $257,081,060  As of  08/25/25
    Portfolio Turnover Rate
    12.56% As of fiscal year end  12/31/24
    Morningstar Category
    Large Growth
    Benchmark
    S&P 500® Index
    Fund Holdings
    50 As of 07/31/25

    Portfolio Managers

    • Alan R. Christensen

      Alan R. Christensen, CFA

      Portfolio Manager,

      Managing Fund Since 2020

      Joined Firm in 2005

      Joined Industry in 1995
    • Catherine Crain

      Catherine Crain, CFA

      Portfolio Manager,

      Managing Fund Since 2000

      Joined Firm in 1993

      Joined Industry in 1989
    • Gentry Lee

      Gentry Lee, CFA

      Chief Executive Officer and Chief Investment Officer,

      Managing Fund Since 2010

      Joined Firm in 1998

      Joined Industry in 1994
    • Christopher Sarofim

      Christopher Sarofim

      Portfolio Manager,

      Managing Fund Since 2000

      Joined Firm in 1988

      Joined Industry in 1986
    Performance

    Total Returns

    Month End

    Average Annual
    As of 07/31/25
    Name 3 MO
    07/31/25     		YTD
    07/31/25     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Appreciation Fund, Inc.
    DGIGX
    		10.39 5.56 6.56 11.64 11.89 12.18 10.96
    S&P 500® Index
    		14.21 8.59 16.33 17.10 15.88 13.66 -

    Quarter End

    Average Annual
    As of 06/30/25
    Name 3 MO
    06/30/25     		YTD
    06/30/25     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Appreciation Fund, Inc.
    DGIGX
    		8.84 5.34 7.11 14.94 13.14 12.28 10.97
    S&P 500® Index
    		10.94 6.20 15.16 19.71 16.64 13.65 -

    The performance data quotes represents past performance, which is no guarantee of future results. Yield, share price and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted. Click above for month-end returns.

    The S&P 500® Index is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization. Investors cannot invest directly in any index.

    The total return performance figures presented for Class I shares of the fund represent the performance of the fund's Investor Shares for periods prior to August 31, 2016, the inception date for Class I shares, and the performance of Class I, respectively, from that inception date. Performance reflects the applicable class' distribution/servicing fees since the inception date. Had these fees and expenses been reflected for periods prior, performance would have been different.

    Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

    Growth of $10,000 Investment

    Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

    Past performance is no guarantee of future results.

    Historical Performance

      Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

      Not available for purchase by individual investors.

       

      Past performance is no guarantee of future results.

      Yearly Total Return

      Yearly

      Investment return fluctuates and past performance is no guarantee of future results.

      Fees & Expenses

      Prospectus Fee Table Expense Ratios

      As of  05/01/25 Fee Description Expense Ratio (%)
      Management Fee 0.55%
      Other Expenses 0.10%
      Total Expenses 0.65%
      Net Expenses 0.65%
      Total Expenses is the total annual operating expense ratio for the fund, before any fee waivers or expense reimbursements. Net Expenses is the total annual operating expense ratio for the fund, after any applicable fee waivers or expense reimbursements. The Total Expenses, or Net Expenses (if including fee waivers or expense reimbursements) is the actual fund expense ratio applicable to investors.
      Portfolio

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser), and the fund's sub-adviser is Fayez Sarofim & Co., LLC (Sarofim & Co.). The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYIA), and the fund's sub-adviser is Fayez Sarofim & Co., LLC (Sarofim & Co.). The fund is managed by a team of portfolio managers employed by Sarofim & Co., consisting of Gentry Lee, Catherine Crain, Christopher Sarofim, and Alan Christensen. The team is supported by Sarofim & Co.'s Investment Committee, all the members of which are senior investment professionals at Sarofim & Co. The team members hold the following positions at Sarofim & Co.: Mr. Sarofim is Chairman, Mr. Christensen is the President and Head of Investment Risk, Mr. Lee is Chief Executive Officer and Chief Investment Officer and Ms. Crain is a Vice President. Mr. Lee has been a portfolio manager of the fund since December 2010. Ms. Crain has been a portfolio manager of the fund since March 1998. Mr. Sarofim has been a portfolio manager of the fund since October 2000. Mr. Christensen has been a portfolio manager of the fund since March 2020.

      Top Holdings

      Download Total Holdings
      As of 07/31/25

      Asset Allocation

          Stats & Risks

          Daily Statistics

          As of 08/25/25 Name NAV Change 12/11/24  12 Month 
          High Nav           		04/08/25  12 Month 
          Low Nav           		YTD Return
          DGIGX
          		$40.05
          -$0.20
          -0.50%
          		$46.34 $32.67 6.80%

          Main Risks

          Equities are subject to market, market sector, market liquidity, issuer, and investment style risks to varying degrees.
          Investing in foreign denominated and/or domiciled securities involves special risks, including changes in currency exchange rates, political, economic, and social instability, limited company information, differing auditing and legal standards, and less market liquidity. These risks generally are greater with emerging market countries.

          Risk Metrics

          As of  07/31/25  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          DGIGX
          		14.88 -4.17 0.94 92.07 0.49

          All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is S&P 500® Index.


          Alpha - Alpha is a measure of a security's or portfolio's excess return.

          Beta - Beta is a measure of a security’s or portfolio’s volatility, or systematic risk.

          R-Squared - R-squared is a statistical measure that represents the percentage of a fund’s or security’s movements that are explained by movements in a benchmark index.

          Sharpe Ratio - Sharpe ratio is a risk-adjusted measure that measures reward per unit of risk. The higher the Sharpe ratio, the better.

          Standard Deviation - Standard deviation is a statistical measure of the degree to which an individual portfolio return tends to vary from the mean, based on the entire population. The greater the degree of dispersion, the greater the degree of risk. In mutual funds, the standard deviation tells us how much the return on the fund is deviating from the expected normal returns.

          Distributions

          Dividend Schedule

          Declared
          Quarterly
          Distributed
          Quarterly
          Paid
          Quarterly
          Fiscal Year End
          Dec 31
          Annualized Distribution Rate
          %
          As of 
          Year Dividend ($) Capital Gains ($)
          2025 0.1283 0.9258
          2024 0.2469 6.6372
          2023 0.3476 2.7738
          2022 0.3171 3.0895
          2021 0.2588 1.7239
          2020 0.3186 1.8501
          2019 0.4023 3.2203
          2018 0.4971 5.6036
          2017 0.6300 5.4055
          2016 0.2980 5.3339

          There is no guarantee that the fund will distribute any level annually. Capital gains may be short-term, long-term, or both.

          Distributions History

          Record Date Ex-Dividend Date Payable Date Ordinary 
          Non-Qualified 
          Dividends           		Qualified 
          Dividends           		Non-Qualified 
          Short-Term 
          Capital Gain           		Qualified 
          Short-Term 
          Capital Gain           		Long-Term 
          Capital Gain           		Total 
          Distribution
          06/27/25 06/30/25 06/30/25 - 0.0718 - 0.0000 0.0000 0.0718
          Record Date Ex-Dividend Date Payable Date Ordinary 
          Non-Qualified 
          Dividends           		Qualified 
          Dividends           		Non-Qualified 
          Short-Term 
          Capital Gain           		Qualified 
          Short-Term 
          Capital Gain           		Long-Term 
          Capital Gain           		Total 
          Distribution
          03/28/25 03/31/25 03/31/25 - 0.0565 - 0.0000 0.9258 0.9823
          12/13/24 12/16/24 12/16/24 0.0000 0.0605 0.0000 0.0000 5.6247 5.6852
          09/27/24 09/30/24 09/30/24 - 0.0447 - 0.0000 0.0000 0.0447
          06/27/24 06/28/24 06/28/24 - 0.0735 - 0.0000 0.0000 0.0735
          03/27/24 03/28/24 03/28/24 - 0.0682 - 0.0000 1.0125 1.0807
          12/19/23 12/20/23 12/20/23 0.0000 0.0889 0.0000 0.0000 1.9798 2.0687
          09/28/23 09/29/23 09/29/23 - 0.0763 - 0.0000 0.0000 0.0763
          06/29/23 06/30/23 06/30/23 - 0.0989 - 0.0000 0.0000 0.0989
          03/30/23 03/31/23 03/31/23 - 0.0835 - 0.0000 0.7940 0.8775
          12/20/22 12/21/22 12/21/22 0.0000 0.0929 0.0000 0.0000 2.7106 2.8035
          09/29/22 09/30/22 09/30/22 - 0.0871 - 0.0000 0.0000 0.0871
          06/29/22 06/30/22 06/30/22 - 0.0843 - 0.0000 0.0000 0.0843
          03/30/22 03/31/22 03/31/22 - 0.0528 - 0.0000 0.3789 0.4317
          12/20/21 12/21/21 12/21/21 0.0000 0.0512 0.0000 0.0050 1.6171 1.6733
          09/29/21 09/30/21 09/30/21 - 0.0409 - 0.0000 0.0000 0.0409
          06/29/21 06/30/21 06/30/21 - 0.0678 - 0.0000 0.0000 0.0678
          03/30/21 03/31/21 03/31/21 0.0000 0.0989 0.0000 0.0000 0.1018 0.2007
          12/18/20 12/21/20 12/21/20 0.0000 0.0676 0.0000 0.0000 1.4228 1.4904
          09/29/20 09/30/20 09/30/20 0.0000 0.0658 0.0000 0.0000 0.0000 0.0658
          06/29/20 06/30/20 06/30/20 0.0000 0.0801 0.0000 0.0000 0.0000 0.0801
          03/30/20 03/31/20 03/31/20 0.0000 0.1051 0.0000 0.0000 0.4273 0.5324
          12/19/19 12/20/19 12/20/19 0.0000 0.0774 0.0000 0.0000 2.2684 2.3458
          09/27/19 09/30/19 09/30/19 0.0000 0.0836 0.0000 0.0000 0.0000 0.0836
          06/27/19 06/28/19 06/28/19 0.0000 0.1088 0.0000 0.0000 0.0000 0.1088
          03/28/19 03/29/19 03/29/19 0.0000 0.1325 0.0000 0.0000 0.9519 1.0844
          12/19/18 12/20/18 12/20/18 0.0000 0.1184 0.0000 0.0000 4.9688 5.0872
          09/27/18 09/28/18 09/28/18 0.0000 0.1105 0.0000 0.0000 0.0000 0.1105
          06/28/18 06/29/18 06/29/18 0.0000 0.1352 0.0000 0.0000 0.0000 0.1352
          03/28/18 03/29/18 03/29/18 0.0000 0.1330 0.0000 0.0296 0.6052 0.7678
          12/21/17 12/22/17 12/22/17 0.0000 0.1830 0.0000 0.0000 3.1765 3.3595
          09/28/17 09/29/17 09/29/17 0.0000 0.1070 0.0000 0.0000 0.0000 0.1070
          06/29/17 06/30/17 06/30/17 0.0000 0.1430 0.0000 0.0000 0.0000 0.1430
          03/30/17 03/31/17 03/31/17 0.0000 0.1970 0.0000 0.0243 2.2047 2.4260
          12/21/16 12/22/16 12/22/16 0.0000 0.1470 0.0000 0.0000 5.3339 5.4809
          09/29/16 09/30/16 09/30/16 0.0000 0.1510 0.0000 0.0000 0.0000 0.1510
          See all rows...
          Literature

          Literature

          PRODUCT MATERIALS

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          BNY Mellon Appreciation Fund, Inc. - Quality on Defense and Offense Download
          BNY Mellon Appreciation Fund, Inc. - Enhanced Factsheet Download
          BNY Mellon Appreciation Fund, Inc. - Presentation Download
          BNY Mellon Appreciation Fund, Inc. - Commentary Download
          Fayez Sarofim & Co - In it for the long run Q&A Download
          Looking To The Long Term - Brochure Download

          Factsheet, Prospectus and Reports

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          Prospectus Download
          Summary Prospectus Download
          SAI Download
          Annual Report - Class I Download
          Semi Annual Report - Class I Download
          Annual Financials and Other Information Download
          Semi Annual Financials and Other Information Download
          1Q Fiscal Holdings Download
          3Q Fiscal Holdings Download

          Investors should consider the investment objectives, risks, charges, and expenses of a mutual fund carefully before investing. Download a prospectus, or summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.

          This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular investment, strategy, investment manager or account arrangement and should not serve as a primary basis for investment decisions.

          Please consult a legal, tax or investment professional in order to determine whether an investment product or service is appropriate for a particular situation.

           

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