NPORT-EX 2 poi_fhmdtallcapcorefund.htm POI - FEDERATED HERMES MDT ALL CAP CORE FUND EDGAR HTML
Federated Hermes MDT All Cap Core Fund
(formerly, Federated MDT All Cap Core Fund)
Portfolio of Investments
October 31, 2020 (unaudited)  
Shares
 
 
Value
         
 
COMMON STOCKS—98.4%
 
 
 
Communication Services—8.9%
 
6,736
 
Activision Blizzard, Inc.
$510,117    
9,446
1
Alphabet, Inc., Class A
15,265,775 
1,297
 
Cable One, Inc.
2,246,222  
65,486
1
Cars.com, Inc.
483,942    
1,787
1
Charter Communications, Inc.
1,079,026  
43,936
 
Cogent Communications Holdings, Inc.
2,451,629  
4,832
1
Facebook, Inc.
1,271,348  
43,653
1
MSG Networks, Inc.
390,258    
3,602
1
Netflix, Inc.
1,713,616  
18,694
1
Pinterest, Inc.
1,102,011  
746
1
Spotify Technology SA
178,958    
88,452
1
TripAdvisor, Inc.
1,690,318  
31,860
 
Verizon Communications, Inc.
1,815,701  
4,555
1
Zillow Group, Inc.
406,898    
 
 
TOTAL
30,605,819
 
 
Consumer Discretionary—12.2%
 
3,295
1
Amazon.com, Inc.
10,004,114 
1,207
1
AutoZone, Inc.
1,362,679  
22,135
1
Cooper-Standard Holding, Inc.
347,298    
2,161
 
Dollar General Corp.
451,022    
16,942
 
Domino’s Pizza, Inc.
6,409,497  
49,006
 
eBay, Inc.
2,334,156  
8,335
1
Etsy, Inc.
1,013,453  
35,900
 
Ford Motor Co.
277,507    
9,316
 
Garmin Ltd.
969,050    
53,197
 
Goodyear Tire & Rubber Co.
440,471    
12,383
 
Home Depot, Inc.
3,302,670  
2,328
1,2
iRobot Corp.
185,262    
21,652
 
Lowe’s Cos., Inc.
3,423,181  
1,349
1
Lululemon Athletica, Inc.
430,722    
279,331
2
Macy’s, Inc.
1,734,646  
4,867
 
McDonald’s Corp.
1,036,671  
11,173
1
Mohawk Industries, Inc.
1,152,942  
2,632
1
O’Reilly Automotive, Inc.
1,149,131  
13,302
 
PVH Corp.
775,374    
894
 
Tractor Supply Co.
119,090    
4,900
1
Wayfair, Inc.
1,215,347  
23,237
 
Wingstop, Inc.
2,703,160  
12,801
1
YETI Holdings, Inc.
633,394    
7,652
 
Yum! Brands, Inc.
714,161    
 
 
TOTAL
42,184,998
 
 
Consumer Staples—6.7%
 
39,144
1
BJ’s Wholesale Club Holdings, Inc.
1,498,824  
10,550
 
Church and Dwight, Inc.
932,514    
14,163
 
Clorox Co.
2,935,282  
90,965
 
Colgate-Palmolive Co.
7,176,229  
1
Shares
 
 
Value
         
 
COMMON STOCKS—continued
 
 
 
Consumer Staples—continued
 
5,710
 
Costco Wholesale Corp.
$2,042,010  
3,143
 
Hershey Foods Corp.
432,037    
41,919
 
Kimberly-Clark Corp.
5,558,040  
12,071
 
Molson Coors Beverage Company, Class B
425,623    
8,885
 
PepsiCo, Inc.
1,184,282  
7,872
 
Philip Morris International, Inc.
559,069    
2,887
 
Procter & Gamble Co.
395,808    
7,963
1
Sprouts Farmers Market, Inc.
151,695    
 
 
TOTAL
23,291,413
 
 
Energy—1.5%
 
18,060
 
Arch Resources, Inc.
551,733    
17,923
 
Cimarex Energy Co.
454,707    
34,012
2
Continental Resources, Inc.
409,164    
13,529
 
CVR Energy, Inc.
148,954    
76,642
 
EOG Resources, Inc.
2,624,222  
22,259
 
Helmerich & Payne, Inc.
330,991    
63,055
 
Marathon Oil Corp.
249,698    
46,223
 
PBF Energy, Inc.
215,862    
77,330
1
Peabody Energy Corp.
99,756     
3,065
 
Pioneer Natural Resources, Inc.
243,851    
 
 
TOTAL
5,328,938
 
 
Financials—10.9%
 
26,190
 
Aflac, Inc.
889,151    
1,578
 
Alleghany Corp.
863,056    
51,160
 
Allstate Corp.
4,540,450  
3,358
 
Ameriprise Financial, Inc.
540,067    
31,403
 
Bank of New York Mellon Corp.
1,079,007  
2,520
 
BlackRock, Inc.
1,510,009  
2,756
 
Chubb Ltd.
358,032    
50,325
 
Cincinnati Financial Corp.
3,559,991  
10,919
 
Globe Life, Inc.
885,422    
18,837
 
Huntington Bancshares, Inc.
196,658    
27,050
 
Intercontinental Exchange, Inc.
2,553,520  
1,010
 
Marketaxess Holdings, Inc.
544,239    
35,165
 
MetLife, Inc.
1,330,995  
12,533
 
MSCI, Inc., Class A
4,384,545  
12,553
 
NASDAQ, Inc.
1,518,787  
19,224
 
Northern Trust Corp.
1,504,662  
36,514
 
Prudential Financial, Inc.
2,337,626  
386
 
S&P Global, Inc.
124,574    
13,666
 
State Street Corp.
804,927    
56,980
 
The Travelers Cos., Inc.
6,878,056  
41,094
 
Zions Bancorporation, N.A.
1,326,103  
 
 
TOTAL
37,729,877
 
 
Health Care—15.2%
 
2,050
1
10X Genomics, Inc.
280,645    
5,393
 
Abbott Laboratories
566,858    
15,510
1
Alexion Pharmaceuticals, Inc.
1,785,821  
13,220
1
Allogene Therapeutics, Inc.
448,422    
21,475
 
Amgen, Inc.
4,658,786  
42,294
1
AnaptysBio, Inc.
1,245,981  
3,918
 
Anthem, Inc.
1,068,830  
2
Shares
 
 
Value
         
 
COMMON STOCKS—continued
 
 
 
Health Care—continued
 
10,896
1
Arvinas, Inc.
$227,835    
11,696
1
Biogen, Inc.
2,948,211  
5,794
1
Biohaven Pharmaceutical Holding Co. Ltd.
448,803    
4,875
 
CIGNA Corp.
813,979    
5,774
1
Constellation Pharmaceuticals, Inc.
113,286    
15,619
 
CVS Health Corp.
876,070    
11,942
1
Davita, Inc.
1,029,998  
9,982
 
Dentsply Sirona, Inc.
471,051    
24,860
 
Eli Lilly & Co.
3,243,236  
13,731
 
Gilead Sciences, Inc.
798,458    
27,024
1
Hologic, Inc.
1,859,792  
6,610
 
Humana, Inc.
2,639,241  
5,342
1
IDEXX Laboratories, Inc.
2,269,388  
2,450
1
IQVIA Holdings, Inc.
377,276    
10,787
1
Jazz Pharmaceuticals PLC.
1,554,407  
25,357
 
Johnson & Johnson
3,476,698  
7,241
1
Kiniksa Pharmaceuticals Ltd.
113,394    
50,137
 
Merck & Co., Inc.
3,770,804  
37,635
1
Myriad Genetics, Inc.
467,803    
16,307
1
SAGE Therapeutics, Inc.
1,196,608  
8,694
1
Seres Therapeutics, Inc.
242,476    
6,497
1
United Therapeutics Corp.
872,092    
528
 
UnitedHealth Group, Inc.
161,114    
8,915
1
Veeva Systems, Inc.
2,407,496  
12,395
1
Vertex Pharmaceuticals, Inc.
2,582,622  
14,338
1
Waters Corp.
3,194,793  
26,259
 
Zoetis, Inc.
4,163,364  
 
 
TOTAL
52,375,638
 
 
Industrials—10.0%
 
12,481
 
AGCO Corp.
961,411    
18,699
1
Astronics Corp.
119,674    
7,269
 
Carrier Global Corp.
242,712    
28,412
1
CIRCOR International, Inc.
792,695    
8,310
 
Curtiss Wright Corp.
701,032    
14,768
 
Flowserve Corp.
430,044    
16,243
 
Fortune Brands Home & Security, Inc.
1,313,571  
5,598
1
Generac Holdings, Inc.
1,176,420  
16,850
 
Hexcel Corp.
564,138    
6,124
 
Hubbell, Inc.
891,103    
406,096
 
KAR Auction Services, Inc.
5,912,758  
7,589
 
Lockheed Martin Corp.
2,657,137  
39,536
 
Masco Corp.
2,119,130  
119,073
 
Otis Worldwide Corp.
7,296,793  
9,419
 
Republic Services, Inc.
830,473    
179,048
 
Spirit AeroSystems Holdings, Inc., Class A
3,256,883  
11,956
1
SPX Corp.
506,815    
4,755
 
Textron, Inc.
170,229    
5,718
 
TransUnion
455,496    
21,394
 
Verisk Analytics, Inc.
3,807,490  
4,153
 
Xylem, Inc.
361,892    
 
 
TOTAL
34,567,896
3
Shares
 
 
Value
         
 
COMMON STOCKS—continued
 
 
 
Information Technology—26.2%
 
8,068
1
Adobe, Inc.
$3,607,203  
12,822
 
Alliance Data Systems Corp.
660,846    
8,643
 
Analog Devices, Inc.
1,024,455  
107,832
 
Apple, Inc.
11,738,592 
29,417
 
Applied Materials, Inc.
1,742,369  
6,262
1
Autodesk, Inc.
1,474,951  
5,111
1
Bill.Com Holdings, Inc.
511,100    
26,936
 
Booz Allen Hamilton Holding Corp.
2,114,476  
8,092
 
Broadcom, Inc.
2,829,206  
61,500
1
Cadence Design Systems, Inc.
6,726,255  
24,778
1
Cirrus Logic, Inc.
1,706,461  
1,177
 
Citrix Systems, Inc.
133,319    
14,421
1
Crowdstrike Holdings, Inc.
1,785,897  
875
1
DocuSign, Inc.
176,969    
275,098
 
DXC Technology Co.
5,067,305  
3,628
1
Elastic N.V.
367,915    
5,459
1
EPAM Systems, Inc.
1,686,558  
3,537
1
FleetCor Technologies, Inc.
781,359    
6,311
1
Fortinet, Inc.
696,545    
2,988
1
HubSpot, Inc.
866,729    
1,110
 
IBM Corp.
123,943    
29,595
1
Inphi Corp.
4,136,197  
46,303
 
Intel Corp.
2,050,297  
530
 
Intuit, Inc.
166,780    
11,127
1
Keysight Technologies, Inc.
1,166,889  
5,562
 
Mastercard, Inc.
1,605,416  
45,610
 
Microsoft Corp.
9,234,657  
7,153
 
NVIDIA Corp.
3,586,228  
957
1
Okta, Inc.
200,807    
10,749
 
Oracle Corp.
603,126    
26,993
 
Paychex, Inc.
2,220,174  
29,219
1
PayPal Holdings, Inc.
5,438,532  
49,135
 
Plantronics, Inc.
959,115    
43,276
 
Qualcomm, Inc.
5,338,527  
45,989
 
Sabre Corp.
299,848    
2,826
1
Semtech Corp.
155,119    
7,340
1
ServiceNow, Inc.
3,652,164  
5,678
1
Square, Inc.
879,409    
7,688
1
Synopsys, Inc.
1,644,156  
24,774
 
Xerox Holdings Corp.
430,572    
1,428
 
Xilinx, Inc.
169,489    
468
1
Zoom Video Communications, Inc.
215,706    
4,484
1
Zscaler, Inc.
608,703    
 
 
TOTAL
90,584,364
 
 
Materials—2.8%
 
83,199
1
Alcoa Corp.
1,074,931  
52,754
1
Allegheny Technologies, Inc.
485,864    
13,680
1
Berry Global Group, Inc.
637,898    
149,740
 
Chemours Co./The
3,015,764  
44,257
 
Domtar, Corp.
1,056,857  
5,939
1
Ingevity Corp.
325,932    
8,212
 
PPG Industries, Inc.
1,065,261  
4
Shares
 
 
Value
         
 
COMMON STOCKS—continued
 
 
 
Materials—continued
 
3,069
 
Sherwin-Williams Co.
$2,111,411  
 
 
TOTAL
9,773,918
 
 
Real Estate—2.2%
 
2,406
 
American Tower Corp.
552,538    
8,174
 
Coresite Realty Corp.
975,649    
170,221
2
Macerich Co. (The)
1,184,738  
15,207
 
SBA Communications Corp.
4,415,656  
8,133
 
SL Green Realty Corp.
348,174    
 
 
TOTAL
7,476,755
 
 
Utilities—1.8%
 
4,434
 
Consolidated Edison Co.
348,025    
47,068
 
Exelon Corp.
1,877,542  
11,434
 
NiSource, Inc.
262,639    
44,479
 
OGE Energy Corp.
1,368,619  
2,553
 
Pinnacle West Capital Corp.
208,248    
21,917
 
Public Service Enterprises Group, Inc.
1,274,474  
53,804
 
Vistra Corp.
934,575    
 
 
TOTAL
6,274,122
 
 
TOTAL COMMON STOCKS
(IDENTIFIED COST $304,484,234)
340,193,738
 
 
INVESTMENT COMPANIES—2.5%
 
3,309,764
 
Federated Hermes Government Obligations Fund, Premier Shares, 0.03%3
3,309,764  
5,355,010
 
Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 0.10%3
5,357,152  
 
 
TOTAL INVESTMENT COMPANIES
(IDENTIFIED COST $8,667,354)
8,666,916
 
 
TOTAL INVESTMENT IN SECURITIES—100.9%
(IDENTIFIED COST $313,151,588)
348,860,654
 
 
OTHER ASSETS AND LIABILITIES - NET—(0.9)%4
(3,019,210)
 
 
TOTAL NET ASSETS—100%
$345,841,444
5
An affiliated company is a company in which the Fund, alone or in combination with other funds, has ownership of at least 5% of the voting shares. Transactions with affiliated companies during the year ended October 31, 2020, were as follows:  
 
Value as of
7/31/2020
Purchases
at Cost*
Proceeds
from Sales*
Consumer Discretionary:
 
 
 
Wingstop, Inc.
$3,630,781
$—
$—
Health Care:
 
 
 
AnaptysBio, Inc.
$759,600
$—
$—
TOTAL OF AFFILIATED COMPANIES TRANSACTIONS
$4,390,381
$—
$—
6
 
Change in
Unrealized
Appreciation/
Depreciation
Net
Realized Gain/
(Loss)*
Value as of
10/31/2020
Shares
Held as of
10/31/2020
Dividend
Income*
 
 
 
 
 
$(927,621)
$—
$2,703,160
23,237
$3,253
 
 
 
 
 
$486,381
$—
$1,245,981
42,294
$—
$(441,240)
$—
$3,949,141
65,531
$3,253
 
*
A portion of the amount shown was recorded when the Fund no longer had ownership of at least 5% of the voting shares.
Affiliated fund holdings are investment companies which are managed by the Adviser or an affiliate of the Adviser. Transactions with the affiliated fund holdings during the period ended October 31, 2020, were as follows:  
 
Federated Hermes
Government
Obligations Fund
Premier Shares*
Federated Hermes
Institutional
Prime Value
Obligations Fund
Institutional Shares
Total of
Affiliated
Transactions
Value as of 7/31/2020
$7,296,777
$5,679,483
$12,976,260
Purchases at Cost
$4,184,999
$25,267,348
$29,452,347
Proceeds from Sales
$(8,172,012)
$(25,588,325)
$(33,760,337)
Change in Unrealized Appreciation/Depreciation
N/A
$83
$83
Net Realized Gain/(Loss)
N/A
$(1,437)
$(1,437)
Value as of 10/31/2020
$3,309,764
$5,357,152
$8,666,916
Shares Held as of 10/31/2020
3,309,764
5,355,010
8,664,774
Dividend Income
$1,196
$2,411
$3,607
 
*
All or a portion of the balance/activity for the fund relates to cash collateral received on securities lending transactions.
 
1
Non-income-producing security.
2
All or a portion of these securities are temporarily on loan to unaffiliated broker/dealers. As of October 31, 2020, securities subject to this type of arrangement
and related collateral were as follows:
 
Market Value of
Securities Loaned
Collateral
Received
$3,211,900
$3,309,764
 
3
7-day net yield.
4
Assets, other than investments in securities, less liabilities.
Note: The categories of investments are shown as a percentage of total net assets at October 31, 2020.
Investment Valuation
In calculating its net asset value (NAV), the Fund generally values investments as follows:
■ Equity securities listed on an exchange or traded through a regulated market system are valued at their last reported sale price or official closing price in their principal exchange or market.
■ Shares of other mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs.
■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by the Trustees.
■ Derivative contracts listed on exchanges are valued at their reported settlement or closing price, except that options are valued at the mean of closing bid and asked quotations.
■ Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Trustees.
■ For securities that are fair valued in accordance with procedures established by and under the general supervision of the Trustees, certain factors may be considered, such as: the last traded or purchase price of the security, information obtained by contacting the issuer or dealers, analysis of the issuer’s financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded, public trading in similar securities or derivative contracts of the issuer or comparable issuers, movement of a relevant index, or other factors including but not limited to industry changes and relevant government actions.
7
If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, if the Fund cannot obtain price evaluations from a pricing service or from more than one dealer for an investment within a reasonable period of time as set forth in the Fund’s valuation policies and procedures, or if information furnished by a pricing service, in the opinion of the valuation committee (“Valuation Committee”), is deemed not representative of the fair value of such security, the Fund uses the fair value of the investment determined in accordance with the procedures described below. There can be no assurance that the Fund could obtain the fair value assigned to an investment if it sold the investment at approximately the time at which the Fund determines its NAV per share, and the actual value obtained could be materially different.
Fair Valuation Procedures
The Trustees have ultimate responsibility for determining the fair value of investments for which market quotations are not readily available. The Trustees have appointed a Valuation Committee comprised of officers of the Fund, Federated MDTA LLC (the “Adviser”) and certain of the Adviser’s affiliated companies to assist in determining fair value and in overseeing the calculation of the NAV. The Trustees have also authorized the use of pricing services recommended by the Valuation Committee to provide fair value evaluations of the current value of certain investments for purposes of calculating the NAV. The Valuation Committee employs various methods for reviewing third-party pricing-service evaluations including periodic reviews of third-party pricing services’ policies, procedures and valuation methods (including key inputs, methods, models and assumptions), transactional back-testing, comparisons of evaluations of different pricing services, and review of price challenges by the Adviser based on recent market activity. In the event that market quotations and price evaluations are not available for an investment, the Valuation Committee determines the fair value of the investment in accordance with procedures adopted by the Trustees. The Trustees periodically review and approve the fair valuations made by the Valuation Committee and any changes made to the procedures.
Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a “bid” evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between the prices bid and asked for the investment (a “mid” evaluation). The Fund normally uses bid evaluations for any U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for any other types of fixed-income securities and any OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Trustees.
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below:
Level 1—quoted prices in active markets for identical securities.
Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.
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 an indication of the risk associated with investing in those securities.
At October 31, 2020, all investments of the Fund utilized Level 1 inputs in valuing the Fund’s assets carried at fair value.
8