NPORT-EX 2 poi_fhmdtallcapcorefund.htm POI - FEDERATED HERMES MDT ALL CAP CORE FUND EDGAR HTML
Federated Hermes MDT All Cap Core Fund
Portfolio of Investments
April 30, 2022 (unaudited)  
Shares
 
 
Value
         
 
COMMON STOCKS—97.9%
 
 
 
Communication Services—7.9%
 
6,499
1
Alphabet, Inc., Class A
$ 14,831,953
128,822
1
Altice USA, Inc.
  1,195,468
65,486
1
Cars.com, Inc.
    728,204
5,557
 
Electronic Arts, Inc.
    656,004
9,940
1
Live Nation Entertainment, Inc.
  1,042,507
37,287
1
Netflix, Inc.
  7,097,954
11,155
 
News Corp., Inc., Class A
    221,538
228,465
1
Pinterest, Inc.
  4,688,102
15,724
1
Spotify Technology SA
  1,598,345
28,070
1
TripAdvisor, Inc.
    720,557
24,864
1
Walt Disney Co.
  2,775,568
 
 
TOTAL
35,556,200
 
 
Consumer Discretionary—10.2%
 
5,821
 
Advance Auto Parts, Inc.
  1,162,046
629
1
Amazon.com, Inc.
  1,563,461
6,171
1
Aptiv PLC
    656,594
564
1
AutoZone, Inc.
  1,102,885
5,677
1
CROCs, Inc.
    377,123
12,266
 
Dick’s Sporting Goods, Inc.
  1,182,688
11,289
 
Domino’s Pizza, Inc.
  3,815,682
26,664
1
Expedia Group, Inc.
  4,659,534
19,262
 
Ford Motor Co.
    272,750
60,570
 
Gap (The), Inc.
    752,279
53,197
1
Goodyear Tire & Rubber Co.
    708,584
3,008
 
Home Depot, Inc.
    903,603
9,397
 
Lowe’s Cos., Inc.
  1,858,069
707
1
Lululemon Athletica, Inc.
    250,723
169,981
 
Macy’s, Inc.
  4,108,441
14,778
 
Nike, Inc., Class B
  1,842,817
42,129
 
Nordstrom, Inc.
  1,082,715
27,406
1
Penn National Gaming, Inc.
  1,002,237
19,222
1
SeaWorld Entertainment, Inc.
  1,296,332
11,670
 
Starbucks Corp.
    871,049
20,728
 
Target Corp.
  4,739,457
1,462
1
Tesla, Inc.
  1,273,051
9,315
1
Ulta Beauty, Inc.
  3,696,192
29,295
 
V.F. Corp.
  1,523,340
19,618
1
YETI Holdings, Inc.
    958,732
32,942
 
Yum! Brands, Inc.
  3,854,544
 
 
TOTAL
45,514,928
 
 
Consumer Staples—5.3%
 
56,627
 
Albertsons Cos., Inc.
  1,771,293
9,831
1
BJ’s Wholesale Club Holdings, Inc.
    632,625
26,682
 
Costco Wholesale Corp.
 14,187,353
615
 
Estee Lauder Cos., Inc., Class A
    162,397
3,429
 
Hershey Foods Corp.
    774,165
50,897
 
Kroger Co.
  2,746,402
1
Shares
 
 
Value
         
 
COMMON STOCKS—continued
 
 
 
Consumer Staples—continued
 
23,535
 
Molson Coors Beverage Company, Class B
$  1,274,185
5,974
1
The Boston Beer Co., Inc., Class A
  2,240,250
 
 
TOTAL
23,788,670
 
 
Energy—5.2%
 
6,402
 
Cheniere Energy, Inc.
    869,456
3,611
 
Chevron Corp.
    565,735
6,400
 
ConocoPhillips
    611,328
13,783
 
EOG Resources, Inc.
  1,609,303
21,224
 
Exxon Mobil Corp.
  1,809,346
63,055
 
Marathon Oil Corp.
  1,571,331
135,635
 
Marathon Petroleum Corp.
 11,835,510
58,493
 
Occidental Petroleum Corp.
  3,222,379
16,550
 
Targa Resources, Inc.
  1,214,936
 
 
TOTAL
23,309,324
 
 
Financials—11.0%
 
2,740
 
American Express Co.
    478,705
97,390
 
Bank of New York Mellon Corp.
  4,096,223
6,747
 
Berkley, W. R. Corp.
    448,608
31,963
 
Carlyle Group LP/The
  1,159,937
14,798
 
Fidelity National Financial, Inc.
    589,256
15,752
 
Gallagher (Arthur J.) & Co.
  2,654,055
22,626
1
Green Dot Corp.
    599,137
26,160
 
Houlihan Lokey, Inc.
  2,178,866
35,342
 
Interactive Brokers Group, Inc., Class A
  2,104,970
310
1
Markel Corp.
    419,517
16,827
 
Marketaxess Holdings, Inc.
  4,435,765
9,427
 
MSCI, Inc., Class A
  3,971,124
22,526
 
NASDAQ, Inc.
  3,544,917
43,356
 
Northern Trust Corp.
  4,467,836
39,113
 
Prudential Financial, Inc.
  4,244,152
4,853
 
Raymond James Financial, Inc.
    472,973
19,307
1
SelectQuote, Inc.
     39,772
31,698
 
State Street Corp.
  2,122,815
25,604
 
The Travelers Cos., Inc.
  4,379,820
142,729
 
Virtu Financial, Inc.
  4,122,014
6,250
 
VOYA Financial, Inc.
    394,625
38,383
 
Zions Bancorporation, N.A.
  2,169,023
 
 
TOTAL
49,094,110
 
 
Health Care—14.3%
 
90,360
 
AbbVie, Inc.
 13,272,077
9,876
 
Amgen, Inc.
  2,302,984
40,396
1
AnaptysBio, Inc.
    945,266
30,083
1
Biogen, Inc.
  6,240,418
56,032
 
Bristol-Myers Squibb Co.
  4,217,529
11,158
 
Bruker Corp.
    641,473
7,788
 
Eli Lilly & Co.
  2,275,108
71,885
1
Enovis Corp.
  4,663,180
6,122
1
Envista Holdings Corp.
    242,554
33,417
 
Gilead Sciences, Inc.
  1,982,965
11,625
1
IQVIA Holdings, Inc.
  2,534,134
17,309
 
Johnson & Johnson
  3,123,582
17,483
 
McKesson Corp.
  5,412,912
2
Shares
 
 
Value
         
 
COMMON STOCKS—continued
 
 
 
Health Care—continued
 
29,987
 
Merck & Co., Inc.
$  2,659,547
37,635
1
Myriad Genetics, Inc.
    771,517
3,995
1
United Therapeutics Corp.
    709,352
26,190
1
Vertex Pharmaceuticals, Inc.
  7,155,632
816
1
Waters Corp.
    247,264
25,507
 
Zoetis, Inc.
  4,521,116
 
 
TOTAL
63,918,610
 
 
Industrials—7.8%
 
14,408
 
3M Co.
  2,077,922
10,871
 
AGCO Corp.
  1,384,965
22,011
 
Alaska Air Group, Inc.
  1,197,178
18,086
 
Allegion PLC
  2,066,145
18,699
 
Astronics Corp.
    181,193
28,412
1
CIRCOR International, Inc.
    558,296
19,630
 
Emerson Electric Co.
  1,770,233
12,843
 
Expeditors International Washington, Inc.
  1,272,356
13,276
 
FedEx Corp.
  2,638,472
12,880
 
Fortune Brands Home & Security, Inc.
    917,700
4,654
 
General Electric Co.
    346,956
4,341
1
Gibraltar Industries, Inc.
    164,263
102,536
1
KAR Auction Services, Inc.
  1,503,178
5,425
 
Lennox International, Inc.
  1,156,556
14,625
 
Manpower, Inc.
  1,319,175
37,452
 
Masco Corp.
  1,973,346
44,658
 
Otis Worldwide Corp.
  3,252,889
37,735
 
Ryder System, Inc.
  2,637,677
10,799
1
Southwest Airlines Co.
    504,529
11,956
1
SPX Corp.
    500,956
12,469
 
Trane Technologies PLC
  1,744,288
14,989
1
Trex Co., Inc.
    872,210
77,959
1
XPO Logistics, Inc.
  4,193,415
10,948
 
Xylem, Inc.
    881,314
 
 
TOTAL
35,115,212
 
 
Information Technology—26.5%
 
15,093
 
Accenture PLC
  4,533,333
102,223
 
Apple, Inc.
 16,115,456
51,424
1
Arista Networks, Inc.
  5,943,072
35,739
1
Arrow Electronics, Inc.
  4,212,199
10,106
1
Box, Inc.
    309,446
16,358
 
Bread Financial Holdings, Inc.
    896,418
17,431
 
Broadcom, Inc.
  9,663,572
21,864
1
Cirrus Logic, Inc.
  1,657,291
9,243
1
Commvault Systems, Inc.
    563,823
83,531
 
Dell Technologies, Inc.
  3,926,792
91,114
1
DXC Technology Co.
  2,614,972
4,461
 
Fidelity National Information Services, Inc.
    442,308
8,856
1
FleetCor Technologies, Inc.
  2,209,749
6,818
1
Fortinet, Inc.
  1,970,470
1,816
1
Gartner, Inc., Class A
    527,639
10,453
 
Global Payments, Inc.
  1,431,852
17,451
 
Hewlett Packard Enterprise Co.
    268,920
46,670
 
HP, Inc.
  1,709,522
3
Shares
 
 
Value
         
 
COMMON STOCKS—continued
 
 
 
Information Technology—continued
 
15,825
 
Intel Corp.
$    689,812
90,556
1
IPG Photonics Corp.
  8,555,731
1,050
 
KLA Corp.
    335,223
8,352
1
MA-COM Technology Solutions Holdings, Inc.
    425,534
40,923
 
Microsoft Corp.
 11,356,951
49,042
 
Oracle Corp.
  3,599,683
3,883
1
Palo Alto Networks, Inc.
  2,179,450
22,236
 
Paychex, Inc.
  2,817,968
9,396
1
Paylocity Corp.
  1,781,763
149,660
1
PayPal Holdings, Inc.
 13,159,604
164,400
1
Pure Storage, Inc.
  4,816,920
14,425
1
Qorvo, Inc.
  1,641,277
23,164
 
Qualcomm, Inc.
  3,235,779
66,109
 
Western Union Co.
  1,107,987
19,682
 
Xerox Holdings Corp.
    342,467
36,540
1
Zoom Video Communications, Inc.
  3,638,288
 
 
TOTAL
118,681,271
 
 
Materials—3.5%
 
32,826
 
Alcoa Corp.
  2,225,603
55,896
1
Berry Global Group, Inc.
  3,149,739
2,894
 
CF Industries Holdings, Inc.
    280,226
110,081
 
Chemours Co./The
  3,640,379
34,432
 
Dow, Inc.
  2,289,728
34,440
 
Mosaic Co./The
  2,149,745
4,473
 
Nucor Corp.
    692,331
12,286
 
Steel Dynamics, Inc.
  1,053,524
 
 
TOTAL
15,481,275
 
 
Real Estate—4.6%
 
9,906
 
Crown Castle International Corp.
  1,834,690
27,575
 
Extra Space Storage, Inc.
  5,239,250
76,810
 
Macerich Co. (The)
    963,965
106,015
 
National Storage Affiliates Trust
  6,000,449
10,103
 
Outfront Media, Inc.
    258,637
34,319
 
Rexford Industrial Realty, Inc.
  2,678,255
8,801
 
SBA Communications, Corp.
  3,054,915
8,112
2
SL Green Realty Corp.
    561,513
 
 
TOTAL
20,591,674
 
 
Utilities—1.6%
 
6,512
 
CMS Energy Corp.
    447,309
2,309
 
Entergy Corp.
    274,425
48,448
 
Exelon Corp.
  2,266,397
11,061
 
NextEra Energy, Inc.
    785,552
37,132
 
OGE Energy Corp.
  1,436,266
28,919
 
Public Service Enterprises Group, Inc.
  2,014,498
 
 
TOTAL
7,224,447
 
 
TOTAL COMMON STOCKS
(IDENTIFIED COST $387,242,551)
438,275,721
 
 
INVESTMENT COMPANIES—2.3%
 
602,250
 
Federated Hermes Government Obligations Fund, Premier Shares, 0.26%3
    602,250
4
Shares
 
 
Value
 
 
INVESTMENT COMPANIES—continued
 
9,897,018
 
Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 0.37%3
$  9,894,049
 
 
TOTAL INVESTMENT COMPANIES
(IDENTIFIED COST $10,494,672)
10,496,299
 
 
TOTAL INVESTMENT IN SECURITIES—100.2%
(IDENTIFIED COST $397,737,223)
448,772,020
 
 
OTHER ASSETS AND LIABILITIES - NET—(0.2)%4
(887,903)
 
 
TOTAL NET ASSETS—100%
$447,884,117
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 period ended April 30, 2022, were as follows:  
Affiliated
Value as of
7/31/2021
Purchases
at Cost*
Proceeds
from Sales*
Change in
Unrealized
Appreciation/
Depreciation*
Net
Realized Gain/
(Loss)*
Value as of
4/30/2022
Shares
Held as of
4/30/2022
Dividend
Income*
Health Care:
 
 
 
 
 
 
 
 
AnaptysBio, Inc.
$928,300
$—
$—
$16,966
$—
$945,266
40,396
$—
Affiliated issuers no longer in the portfolio at period
end
$142,873
$136,013
$(203,498)
$(29,272)
$(46,116)
$—
—
$681
TOTAL OF AFFILIATED COMPANIES
TRANSACTIONS
$1,071,173
$136,013
$(203,498)
$(12,306)
$(46,116)
$945,266
40,396
$681
 
*
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 affiliated fund holdings during the period ended April 30, 2022, 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 7/31/2021
$—
$7,662,074
$7,662,074
Purchases at Cost
$23,584,927
$92,425,410
$116,010,337
Proceeds from Sales
$(22,982,677)
$(90,189,179)
$(113,171,856)
Change in Unrealized Appreciation/Depreciation
N/A
$1,627
$1,627
Net Realized Gain/(Loss)
N/A
$(5,883)
$(5,883)
Value as of 4/30/2022
$602,250
$9,894,049
$10,496,299
Shares Held as of 4/30/2022
602,250
9,897,018
10,499,268
Dividend Income
$217
$7,404
$7,621
Gain Distributions Received
$—
$1,383
$1,383
 
*
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 April 30, 2022, securities subject to this type of arrangement and
related collateral were as follows:
 
Market Value of
Securities Loaned
Collateral
Received
$555,837
$602,250
 
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 April 30, 2022.
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.
5
◾ 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.
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 and Significant Events 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 April 30, 2022, all investments of the Fund utilized Level 1 inputs in valuing the Fund’s assets carried at fair value.
6