[SCHEDULE 13G] BNY MELLON HIGH YIELD STRATEGIES FUND Passive Investment Disclosure (>5%)
Sit reports 4.6M shares (6.3%) in BNY Mellon Fund
Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC report shared beneficial ownership of 4,595,423 shares (representing 6.3%) of BNY Mellon High Yield Strategies Fund common stock.
Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC report shared beneficial ownership of 4,595,423 shares (representing 6.3%) of BNY Mellon High Yield Strategies Fund common stock. The filing states they possess shared voting and dispositive power over these shares held by client accounts. The issuer had 72,736,534 shares outstanding as of September 30, 2025. Pursuant to Rule 13d-4, the filers disclaim beneficial ownership beyond their advisory roles.
Positive
None.
Negative
None.
Insights
Large institutional position disclosed: 4,595,423 shares (6.3%).
The filing shows SIA and its subsidiary SFI report shared voting and dispositive power over 4,595,423 shares of the Fund, a stake sized at 6.3% of outstanding common stock as of September 30, 2025. This reflects a meaningful institutional holding that could affect proxy outcomes for routine governance votes.
Holder-level trading or intent is not stated; the accounts are client portfolios and the filers expressly disclaim broader beneficial ownership under Rule 13d-4. Subsequent filings would show any direction-changing trades.
Disclosure consistent with adviser-client holdings and Rule 13d-4 mechanics.
The Schedule 13G identifies the filers as registered investment advisers with shared voting/dispositive power over the reported shares held in client Accounts. The filing cites the Form N-CSR outstanding share figure for the percentage calculation.
Because the filers disclaim beneficial ownership pursuant to Rule 13d-4, this is a passive disclosure; any change in intent or active solicitations would require an updated filing or different form.
Key Figures
Reported shares owned:4,595,423 sharesOwnership percent:6.3%Shares outstanding:72,736,534 shares+1 more
4 metrics
Reported shares owned4,595,423 sharesAmount beneficially owned by SIA/SFI (shared power)
Ownership percent6.3%Percent of common stock based on outstanding shares
Shares outstanding72,736,534 sharesShares outstanding as of September 30, 2025 (Form N-CSR)
CUSIP09660L105BNY Mellon High Yield Strategies Fund common stock identifier
Key Terms
shared voting and dispositive power, Rule 13d-4, beneficially owned
3 terms
shared voting and dispositive powerregulatory
"possess shared voting and investment power over securities of the Issuer"
Rule 13d-4regulatory
"Pursuant to Rule 13d-4 of the Securities Exchange Act of 1934"
beneficially ownedfinancial
"Amount beneficially owned: See response to item 9 on each cover page"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stake does Sit Investment report in BNY Mellon High Yield Strategies Fund (DHF)?
Sit Investment and its subsidiary report shared beneficial ownership of 4,595,423 shares, representing 6.3% of the common stock. The percentage is calculated using 72,736,534 shares outstanding as of September 30, 2025.
Does Sit claim direct beneficial ownership of the DHF shares?
No. The filing states Sit Investment and Sit Fixed Income Advisors II disclaim beneficial ownership under Rule 13d-4 and report shared voting and dispositive power over client Accounts that hold the shares.
How was the 6.3% ownership percentage calculated in the 13G?
The percentage uses the issuer's reported common stock outstanding of 72,736,534 shares as of September 30, 2025 from the Fund's Form N-CSR. The filers list 4,595,423 shares for the numerator.
Who holds the reported shares for Sit Investment's filing?
The filing says all reported securities are owned by client Accounts managed by Sit Investment Associates and Sit Fixed Income Advisors II. The Accounts have the right to receive dividends and sale proceeds, per the disclosure.
Will this Schedule 13G trigger immediate activism or voting control?
This Schedule 13G characterizes the position as passive advisory holdings and includes a disclaimer under Rule 13d-4. The filing does not state any activist intent or plans to solicit proxies.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
BNY MELLON HIGH YIELD STRATEGIES FUND
(Name of Issuer)
Common Stock
(Title of Class of Securities)
09660L105
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
09660L105
1
Names of Reporting Persons
Sit Investment Associates, Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MINNESOTA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
4,595,423.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,595,423.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,595,423.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.3 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
09660L105
1
Names of Reporting Persons
Sit Fixed Income Advisors II, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
4,595,423.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,595,423.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,595,423.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.3 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
BNY MELLON HIGH YIELD STRATEGIES FUND
(b)
Address of issuer's principal executive offices:
c/o BNY Mellon Investment Adviser, Inc., 240 Greenwich Street, New York, New York 10286
Item 2.
(a)
Name of person filing:
Sit Investment Associates, Inc.
Sit Fixed Income Advisors II, LLC
(b)
Address or principal business office or, if none, residence:
c/o Sit Investment Associates, Inc.
80 South Eighth Street, Suite 3300
Minneapolis, MN 55402
(c)
Citizenship:
Sit Investment Associates, Inc. Minnesota Corporation
Sit Fixed Income Advisors II, LLC Delaware LLC
(d)
Title of class of securities:
Common Stock
(e)
CUSIP Number(s):
09660L105
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
See response to item 9 on each cover page.
(b)
Percent of class:
See response to item 11 on each cover page.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See response to item 5 on each cover page.
(ii) Shared power to vote or to direct the vote:
See response to item 6 on each cover page.
(iii) Sole power to dispose or to direct the disposition of:
See response to item 7 on each cover page.
(iv) Shared power to dispose or to direct the disposition of:
See response to item 8 on each cover page.
The ownership percentages reported are based on 72,736,534 shares of common stock outstanding as of September 30, 2025, as reported in the Issuer's Report on Form N-CSRS filed with the Securities Exchange Commission.
Sit Investment Associates, Inc. ("SIA") is an investment adviser registered under section 203 of the Investment Advisers Act of 1940. Sit Fixed Income Advisors II, LLC ("SFI") is an investment adviser registered under section 203 of the Investment Advisers Act of 1940 and a subsidiary of SIA. SIA and SFI provide investment management services to client accounts ("Accounts"). In their roles as investment advisers SIA and SFI possess shared voting and investment power over securities of the Issuer described in this schedule 13G owned by the Accounts and may be deemed to be the beneficial owner of such shares of the Issuer owned by the Accounts. All securities reported in this schedule 13G are owned by the Accounts. Pursuant to Rule 13d-4 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), SIA and SFI disclaim beneficial ownership of such securities.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The Accounts are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities.
Except as may be indicated if this is a joint filing with a registered investment company managed by SIA or SFI, not more than 5% of the class of such securities is owned by any one Account subject to the investment advice of SIA or SFI.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
