NPORT-EX 2 poi_fhmdtallcapcore.htm POI - FEDERATED HERMES MDT ALL CAP CORE FUND EDGAR HTML
Federated Hermes MDT All Cap Core Fund
Portfolio of Investments
October 31, 2021 (unaudited)  
Shares
 
 
Value
         
 
COMMON STOCKS—98.1%
 
 
 
Communication Services—9.2%
 
13,395
 
Activision Blizzard, Inc.
$1,047,355  
9,974
1
Alphabet, Inc., Class A
29,532,216 
65,486
1
Cars.com, Inc.
852,628    
12,354
 
Electronic Arts, Inc.
1,732,649  
26,069
1
Facebook, Inc.
8,435,146  
69,931
 
News Corp., Inc., Class A
1,601,420  
53,605
 
ViacomCBS, Inc., Class B
1,941,573  
 
 
TOTAL
45,142,987
 
 
Consumer Discretionary—11.4%
 
5,124
 
Advance Auto Parts, Inc.
1,155,564  
964
1
Amazon.com, Inc.
3,251,022  
564
1
AutoZone, Inc.
1,006,650  
9,861
1
Burlington Stores, Inc.
2,724,496  
5,677
1
CROCs, Inc.
916,552    
12,266
 
Dick’s Sporting Goods, Inc.
1,523,560  
12,125
 
Domino’s Pizza, Inc.
5,928,761  
2,457
1
DoorDash, Inc.
478,624    
1,571
1
Expedia Group, Inc.
258,288    
3,734
1
Floor & Decor Holdings, Inc.
507,525    
35,900
 
Ford Motor Co.
613,172    
53,197
1
Goodyear Tire & Rubber Co.
1,017,127  
1,730
 
Home Depot, Inc.
643,110    
3,041
 
Kohl’s Corp.
147,580    
2,114
1
LGI Homes, Inc.
315,620    
395
1
Lululemon Athletica, Inc.
184,074    
169,981
 
Macy’s, Inc.
4,499,397  
9,349
 
McDonald’s Corp.
2,295,647  
7,463
1
O’Reilly Automotive, Inc.
4,644,374  
11,347
1
SeaWorld Entertainment, Inc.
720,534    
20,795
 
Starbucks Corp.
2,205,726  
24,338
 
Target Corp.
6,318,632  
4,557
1
Tesla, Inc.
5,076,498  
6,305
1
Ulta Beauty, Inc.
2,316,205  
1,586
 
Wingstop, Inc.
273,537    
19,618
1
YETI Holdings, Inc.
1,929,038  
37,053
 
Yum! Brands, Inc.
4,629,402  
 
 
TOTAL
55,580,715
 
 
Consumer Staples—3.9%
 
36,107
1
BJ’s Wholesale Club Holdings, Inc.
2,110,093  
11,660
 
Costco Wholesale Corp.
5,731,357  
4,686
 
Estee Lauder Cos., Inc., Class A
1,519,810  
3,429
 
Hershey Foods Corp.
601,275    
42,853
 
Kroger Co.
1,714,977  
23,535
 
Molson Coors Beverage Company, Class B
1,037,658  
21,802
 
PepsiCo, Inc.
3,523,203  
31,881
 
Philip Morris International, Inc.
3,014,030  
 
 
TOTAL
19,252,403
1
Shares
 
 
Value
         
 
COMMON STOCKS—continued
 
 
 
Energy—2.3%
 
4,297
 
Cheniere Energy, Inc.
$444,310    
14,278
 
Continental Resources, Inc.
696,909    
46,821
 
EOG Resources, Inc.
4,329,070  
17,376
 
Helmerich & Payne, Inc.
539,351    
63,055
 
Marathon Oil Corp.
1,029,058  
49,372
 
Marathon Petroleum Corp.
3,255,096  
13,010
 
Occidental Petroleum Corp.
436,225    
6,339
 
Targa Resources, Inc.
346,553    
 
 
TOTAL
11,076,572
 
 
Financials—12.4%
 
765
1
Alleghany Corp.
498,306    
35,937
 
Allstate Corp.
4,444,329  
57,314
 
Ally Financial, Inc.
2,736,170  
91,924
 
Bank of New York Mellon Corp.
5,441,901  
5,368
 
Fidelity National Financial, Inc.
257,181    
35,342
 
Interactive Brokers Group, Inc., Class A
2,503,981  
21,051
 
KKR & Co., Inc., Class Common
1,677,133  
310
1
Markel Corp.
407,070    
16,704
 
MSCI, Inc., Class A
11,106,155 
12,694
 
NASDAQ, Inc.
2,664,090  
43,356
 
Northern Trust Corp.
5,334,522  
37,749
 
Prudential Financial, Inc.
4,154,277  
1,662
 
Signature Bank
494,977    
84,657
 
State Street Corp.
8,342,947  
24,637
 
The Travelers Cos., Inc.
3,963,601  
40,471
 
Tradeweb Markets, Inc.
3,605,966  
1,290
1
Upstart Holdings, Inc.
415,432    
38,383
 
Zions Bancorporation, N.A.
2,417,745  
 
 
TOTAL
60,465,783
 
 
Health Care—14.1%
 
96,457
 
AbbVie, Inc.
11,060,724 
23,240
 
Amgen, Inc.
4,809,983  
40,396
1
AnaptysBio, Inc.
1,329,028  
4,557
 
Anthem, Inc.
1,982,887  
47,299
1
Avantor, Inc.
1,909,934  
1,025
1
Biohaven Pharmaceutical Holding Co. Ltd.
145,878    
11,158
 
Bruker Corp.
895,987    
5,128
 
Cerner Corp.
380,959    
15,619
 
CVS Health Corp.
1,394,464  
11,731
1
Davita, Inc.
1,211,109  
6,122
1
Envista Holdings Corp.
239,370    
3,664
 
Humana, Inc.
1,697,018  
26,976
1
IQVIA Holdings, Inc.
7,052,066  
29,640
 
Johnson & Johnson
4,827,763  
38,540
 
McKesson Corp.
8,011,695  
35,512
 
Merck & Co., Inc.
3,126,832  
37,635
1
Myriad Genetics, Inc.
1,158,029  
6,423
1
Progyny, Inc.
394,565    
5,032
1
Shockwave Medical, Inc.
1,075,338  
3,995
1
United Therapeutics Corp.
762,086    
8,352
1
Veeva Systems, Inc.
2,647,668  
31,451
1
Vertex Pharmaceuticals, Inc.
5,816,234  
2
Shares
 
 
Value
         
 
COMMON STOCKS—continued
 
 
 
Health Care—continued
 
816
1
Waters Corp.
$299,921    
30,451
 
Zoetis, Inc.
6,583,506  
 
 
TOTAL
68,813,044
 
 
Industrials—8.5%
 
10,871
 
AGCO Corp.
1,328,545  
11,211
1
Alaska Air Group, Inc.
591,941    
18,086
 
Allegion PLC
2,320,434  
18,699
1
Astronics Corp.
241,217    
5,977
1
Avis Budget Group, Inc.
1,035,874  
75,913
 
Carrier Global Corp.
3,964,936  
28,412
1
CIRCOR International, Inc.
810,878    
12,880
 
Fortune Brands Home & Security, Inc.
1,306,032  
5,908
1
Generac Holdings, Inc.
2,945,492  
7,614
 
General Electric Co.
798,480    
117,749
1
KAR Auction Services, Inc.
1,727,378  
5,425
 
Lennox International, Inc.
1,623,594  
7,649
 
Manpower, Inc.
739,276    
37,452
 
Masco Corp.
2,454,979  
135,828
 
Otis Worldwide Corp.
10,908,347 
37,735
 
Ryder System, Inc.
3,205,588  
7,761
 
Spirit AeroSystems Holdings, Inc., Class A
320,452    
11,956
1
SPX Corp.
694,524    
7,179
 
TransUnion
827,667    
30,243
1
XPO Logistics, Inc.
2,594,849  
10,948
 
Xylem, Inc.
1,429,699  
 
 
TOTAL
41,870,182
 
 
Information Technology—28.0%
 
1,245
 
Accenture PLC
446,694    
16,358
 
Alliance Data Systems Corp.
1,394,520  
6,095
1
Ambarella, Inc.
1,132,634  
103,584
 
Apple, Inc.
15,516,883 
8,890
1
Arista Networks, Inc.
3,642,144  
35,739
1
Arrow Electronics, Inc.
4,136,789  
10,232
1
Asana, Inc.
1,389,506  
11,440
1
Atlassian Corp. PLC
5,241,007  
49,479
 
Bentley Systems, Inc.
2,926,683  
8,490
 
Broadcom, Inc.
4,513,878  
21,864
1
Cirrus Logic, Inc.
1,766,830  
9,387
1
CloudFlare, Inc.
1,827,837  
9,243
1
Commvault Systems, Inc.
568,445    
13,318
1
Crowdstrike Holdings, Inc.
3,753,012  
29,188
1
Datadog, Inc.
4,875,855  
8,511
1
Dropbox, Inc.
259,500    
91,114
1
DXC Technology Co.
2,967,583  
13,224
1
Dynatrace Holdings LLC
991,800    
19,380
1
EPAM Systems, Inc.
13,047,391 
8,856
1
FleetCor Technologies, Inc.
2,191,063  
29,000
1
Fortinet, Inc.
9,753,860  
1,816
1
Gartner, Inc., Class A
602,749    
4,262
1
Globant SA
1,360,388  
17,451
 
Hewlett Packard Enterprise Co.
255,657    
50,473
 
HP, Inc.
1,530,846  
3
Shares
 
 
Value
         
 
COMMON STOCKS—continued
 
 
 
Information Technology—continued
 
9,288
1
HubSpot, Inc.
$7,525,416  
46,303
 
Intel Corp.
2,268,847  
8,352
1
MA-COM Technology Solutions Holdings, Inc.
583,137    
4,695
 
Mastercard, Inc.
1,575,266  
47,297
 
Microsoft Corp.
15,684,631 
6,681
1
Nutanix, Inc.
229,225    
1,234
 
NVIDIA Corp.
315,497    
1,876
1
Palo Alto Networks, Inc.
955,053    
21,076
 
Paychex, Inc.
2,598,249  
9,396
1
Paylocity Corp.
2,867,095  
40,911
1
Plantronics, Inc.
1,094,778  
36,742
 
Qualcomm, Inc.
4,888,156  
2,415
1
Rapid7, Inc.
310,931    
602
1
ServiceNow, Inc.
420,052    
17,250
 
Visa, Inc., Class A
3,653,033  
66,109
 
Western Union Co.
1,204,506  
19,682
 
Xerox Holdings Corp.
350,340    
13,361
1
Zscaler, Inc.
4,260,288  
 
 
TOTAL
136,878,054
 
 
Materials—2.9%
 
83,199
 
Alcoa Corp.
3,822,994  
46,545
1
Allegheny Technologies, Inc.
749,375    
55,896
1
Berry Global Group, Inc.
3,663,424  
138,595
 
Chemours Co./The
3,883,432  
34,432
 
Dow, Inc.
1,927,159  
2,676
1
Ingevity Corp.
208,487    
 
 
TOTAL
14,254,871
 
 
Real Estate—4.2%
 
11,565
 
Coresite Realty Corp.
1,647,550  
967
 
Crown Castle International Corp.
174,350    
28,237
 
Extra Space Storage, Inc.
5,573,137  
12,177
 
Iron Mountain, Inc.
555,758    
76,810
 
Macerich Co. (The)
1,389,493  
122,119
 
National Storage Affiliates Trust
7,627,553  
8,801
 
SBA Communications, Corp.
3,039,249  
8,122
 
SL Green Realty Corp.
569,108    
 
 
TOTAL
20,576,198
 
 
Utilities—1.2%
 
2,309
 
Entergy Corp.
237,873    
48,448
 
Exelon Corp.
2,576,949  
37,132
 
OGE Energy Corp.
1,265,087  
30,996
 
Public Service Enterprises Group, Inc.
1,977,545  
 
 
TOTAL
6,057,454
 
 
TOTAL COMMON STOCKS
(IDENTIFIED COST $355,884,137)
479,968,263
 
 
INVESTMENT COMPANY—1.8%
 
8,895,653
 
Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 0.02%2
(IDENTIFIED COST $8,897,432)
8,898,322  
 
 
TOTAL INVESTMENT IN SECURITIES—99.9%
(IDENTIFIED COST $364,781,569)
488,866,585
 
 
OTHER ASSETS AND LIABILITIES - NET—0.1%3
376,588
 
 
TOTAL NET ASSETS—100%
$489,243,173
4
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 the affiliated companies during the period ended October 31, 2021, were as follows:  
 
Value as of
7/31/2021
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation/
Depreciation
Net
Realized Gain/
(Loss)
Value as of
10/31/2021
Shares
Held as of
10/31/2021
Dividend
Income
Health Care:
 
 
 
 
 
 
 
 
AnaptysBio, Inc.
$928,300
$—
$—
$400,728
$—
$1,329,028
40,396
$—
TOTAL OF AFFILIATED
COMPANIES TRANSACTIONS
$928,300
$—
$—
$400,728
$—
$1,329,028
40,396
$—
Affiliated fund holdings are investment companies which are managed by the Adviser or an affiliate of the Adviser. Transactions with affiliated fund holdings during the period ended October 31, 2021, were as follows:  
 
Federated Hermes
Institutional
Prime Value
Obligations Fund
Institutional Shares
Value as of 7/31/2021
$7,662,074
Purchases at Cost
$31,509,214
Proceeds from Sales
$(30,272,265)
Change in Unrealized Appreciation/Depreciation
$890
Net Realized Gain/(Loss)
$(1,591)
Value as of 10/31/2021
$8,898,322
Shares Held as of 10/31/2021
8,895,653
Dividend Income
$856
 
1
Non-income-producing security.
2
7-day net yield.
3
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, 2021.
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, or NAV per share practical expedient, as applicable.
■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by the Fund’s Board of Trustees (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.
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.
5
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.
As of October 31, 2021, all investments of the Fund utilized Level 1 inputs in valuing the Fund’s assets carried at fair value.
6