Foreign
Currency
Par Amount,
Principal
Amount
or Shares
|
|
|
Acquisition
Date1
|
Acquisition
Cost
in U.S. Dollars1
|
Value
in
U.S. Dollars
|
|
1
|
TRADE FINANCE AGREEMENTS—92.6%
|
|
|
|
|
|
Air Transportation—0.7%
|
|
|
|
$ 4,541,103
|
2
|
AerCap Holdings NV, 7.060% (3-month USLIBOR +1.450%), 12/31/2025
|
11/23/2021
|
$ 4,544,231
|
$ 4,407,015
|
|
|
Automotive—0.7%
|
|
|
|
4,000,000
|
2
|
JSC UzAuto Motors (“UzAuto Motors”), 9.718% (180-DAY AVERAGE SOFR
+4.250%), 8/24/2026
|
9/18/2023
|
4,000,000
|
4,018,730
|
|
|
Banking—13.0%
|
|
|
|
EUR 7,000,000
|
2
|
Akbank Turk II, 7.596% (6-month EURIBOR +3.500%), 4/26/2024
|
10/5/2023
|
7,362,228
|
7,716,381
|
$ 4,000,000
|
|
Banco Santander (Brasil) SA, 6.250%, 1/2/2024
|
12/15/2023
|
4,000,000
|
4,000,078
|
5,000,000
|
2
|
Eastern and Southern African Trade and Development Bank, 6.830% (90-DAY AVERAGE
SOFR +1.450%), 11/23/2026
|
11/21/2023-
11/30/2023
|
5,000,000
|
5,000,000
|
9,000,000
|
2
|
Far East Horizon Ltd., 7.041% (3-month USLIBOR +1.400%), 9/10/2024
|
9/15/2021
|
9,000,000
|
8,997,355
|
4,000,000
|
2
|
Joint Stock Commercial Bank Agrobank, 9.871% (SOFR +4.500%), 3/13/2024
|
3/7/2023
|
4,000,000
|
3,983,975
|
6,000,000
|
2
|
Joint-Stock Co. Asakabank, 8.993% (180-DAY AVERAGE SOFR +3.500%), 3/28/2025
|
10/4/2023
|
6,000,000
|
6,031,881
|
EUR 7,500,000
|
2
|
QNB Finansbank AS/Turkey, 7.460% (6-month EURIBOR +3.500%), 6/6/2024
|
5/24/2023-
10/5/2023
|
7,893,731
|
8,249,609
|
12,500,000
|
2
|
T.C. Ziraat Bankasi A.S., 7.456% (3-month EURIBOR +3.500%), 4/26/2024
|
10/13/2023
|
13,107,194
|
13,799,377
|
1,500,000
|
2
|
The National Bank for Foreign Economic Activity of the Republic of Uzbekistan (“NBU”),
7.338% (6-month EURIBOR +3.400%), 6/18/2024
|
6/25/2021
|
1,791,821
|
1,643,315
|
9,500,000
|
2
|
The Republic of Cote d’Ivoire acting through The Ministry of Economy and Finance of
Cote d’Ivoire (MOF IVORY COAST), 6.916% (6-month EURIBOR +3.000%), 6/28/2024
|
11/28/2023
|
10,438,127
|
10,487,526
|
$ 7,500,000
|
|
Turkiye Vakiflar Bankasi T.A.O., 9.050%, 5/23/2024
|
10/2/2023
|
7,473,750
|
7,500,000
|
|
|
TOTAL
|
|
|
77,409,497
|
|
|
Basic Industry - Metals/Mining Excluding Steel—4.0%
|
|
|
|
3,200,000
|
2
|
China Hongqiao Group Ltd., 9.270% (1-month USLIBOR +3.800%), 3/30/2024
|
6/3/2021
|
3,200,000
|
3,200,000
|
5,500,000
|
2
|
Harmony Gold Mining Co. Ltd., 8.250% (SOFR +2.850%), 5/31/2026
|
4/30/2021
|
5,507,949
|
5,555,000
|
10,000,000
|
2
|
Navoi Mining and Metallurgical Co., 10.172% (90-DAY AVERAGE SOFR
+4.760%), 4/20/2027
|
5/18/2022
|
9,999,500
|
10,000,000
|
5,600,000
|
2
|
PJSC MMC Norilsk Nickel, 6.870% (90-DAY AVERAGE SOFR +1.400%), 2/20/2025
|
11/30/2020-
10/22/2021
|
5,561,185
|
5,275,767
|
|
|
TOTAL
|
|
|
24,030,767
|
|
|
Basic Industry - Steel Producers/Products—1.1%
|
|
|
|
6,500,000
|
2
|
JSC Uzbek Steel, 9.618% (90-DAY AVERAGE SOFR +4.250%), 8/4/2024
|
8/22/2023
|
6,502,250
|
6,507,225
|
|
|
Beverages—0.7%
|
|
|
|
4,058,824
|
2
|
International Beverage Tashkent, 10.082% (3-month USLIBOR +4.500%), 12/29/2026
|
12/23/2021-
3/8/2022
|
4,058,824
|
4,056,377
|
|
|
Building & Development—0.6%
|
|
|
|
3,825,000
|
2
|
IHS Zambia Ltd., 10.655% (3-month USLIBOR +5.000%), 12/15/2027
|
11/26/2021
|
3,820,112
|
3,708,936
|
|
|
Chemicals—2.4%
|
|
|
|
4,785,000
|
2
|
Egyptian Ethylene & Derivatives Co. SAE, 9.379% (90-DAY AVERAGE SOFR
+4.000%), 9/13/2028
|
9/22/2023-
10/17/2023
|
4,785,000
|
4,785,000
|
10,000,000
|
2
|
PJSC Acron, 7.047% (1-month USLIBOR +1.700%), 5/18/2026
|
11/26/2021
|
10,000,000
|
9,701,310
|
|
|
TOTAL
|
|
|
14,486,310
|
|
|
Communications - Telecom Wirelines—2.5%
|
|
|
|
6,000,000
|
2
|
Gridiron Fiber Corp., 9.098% (90-DAY AVERAGE SOFR +3.750%), 8/31/2030
|
11/22/2023
|
5,985,000
|
5,985,000
|
Foreign
Currency
Par Amount,
Principal
Amount
or Shares
|
|
|
Acquisition
Date1
|
Acquisition
Cost
in U.S. Dollars1
|
Value
in
U.S. Dollars
|
|
1
|
TRADE FINANCE AGREEMENTS—continued
|
|
|
|
|
|
Communications - Telecom Wirelines—continued
|
|
|
|
EUR 8,200,000
|
2
|
Telekom Srbija a.d. Beograd, 9.000% (6-month EURIBOR +4.950%), 6/1/2026
|
5/26/2023-
5/30/2023
|
$ 8,693,710
|
$ 9,052,391
|
|
|
TOTAL
|
|
|
15,037,391
|
|
|
Consumer Goods - Food - Wholesale—0.2%
|
|
|
|
$ 137,500
|
2
|
Ghana Cocoa Board, 10.227% (6-month USLIBOR +4.400%), 11/12/2024
|
8/11/2021
|
137,500
|
134,573
|
998,676
|
|
Sysco Corp. and Sysco Merchandising and Supply Chain Services, Inc., 6.375%, 1/24/2024
|
11/27/2023
|
867,759
|
873,847
|
894,737
|
2,3,4,5
|
Vicentin SAIC II, 11.664% (3-month USLIBOR +6.000%), 1/15/2024
|
1/8/2018-
2/21/2018
|
894,737
|
98,422
|
|
|
TOTAL
|
|
|
1,106,842
|
|
|
Energy - Exploration & Production—10.2%
|
|
|
|
EUR 9,500,000
|
|
Axpo Solutions AG, 5.010%, 5/20/2024
|
12/11/2023
|
10,226,270
|
10,488,602
|
$11,000,000
|
2
|
Azule Energy Holding Ltd., 9.860% (SOFR +4.500%), 7/29/2029
|
10/27/2022-
12/19/2022
|
10,920,000
|
11,084,979
|
7,500,000
|
2
|
Carmo Energy SA, 7.987% (CME Term SOFR 6-month +2.500%), 12/23/2027
|
6/30/2023
|
7,500,000
|
7,512,744
|
11,000,000
|
2
|
CC Energy Development Ltd., 9.121% (SOFR +3.750%), 7/1/2028
|
8/31/2022
|
11,000,000
|
11,000,000
|
5,000,000
|
2
|
SOCAR Energy, 9.178% (6-month USLIBOR +3.450%), 8/11/2026
|
8/11/2021
|
4,957,500
|
5,000,000
|
3,300,000
|
2
|
Sonangol Finance Ltd., 9.670% (1-month USLIBOR +5.250%), 9/30/2026
|
9/15/2021
|
3,168,000
|
3,189,267
|
9,963,334
|
2
|
Sonangol Finance Ltd., Term Loan, Series 2025 TF, 9.670% (1-month USLIBOR
+4.200%), 1/29/2025
|
5/24/2023-
10/11/2023
|
9,184,937
|
9,244,137
|
3,333,333
|
2
|
State Oil Co Of The Azer, 8.572% (6-month USLIBOR +2.700%), 2/22/2024
|
3/7/2023
|
3,300,000
|
3,333,333
|
|
|
TOTAL
|
|
|
60,853,062
|
|
|
Energy - Gas Distribution—3.3%
|
|
|
|
739,170
|
2
|
Papua New Guinea Liquefied Natural Gas Global Co., 10.011% (6-month USLIBOR
+4.250%), 6/15/2024
|
4/14/2023
|
739,170
|
739,170
|
3,620,838
|
2
|
Papua New Guinea Liquefied Natural Gas Global Co., 9.261% (6-month USLIBOR
+3.500%), 6/15/2026
|
4/14/2023
|
3,584,629
|
3,620,838
|
12,174,968
|
2
|
Venture Global Calcasieu Pass LLC, 8.081% (1-month USLIBOR +2.625%), 8/19/2026
|
2/10/2023-
1/28/2021
|
11,704,830
|
11,745,916
|
3,423,193
|
2
|
Venture Global Plaquemines LNG LLC, 7.330% (SOFR +1.975%), 5/25/2029
|
12/15/2022-
12/21/2023
|
3,423,193
|
3,423,193
|
|
|
TOTAL
|
|
|
19,529,117
|
|
|
Energy - Integrated Energy—0.9%
|
|
|
|
5,139,178
|
2
|
Staatsolie Maatschappij Suriname NV, 11.139% (90-DAY AVERAGE SOFR
+5.500%), 1/25/2028
|
6/30/2021
|
5,139,178
|
5,139,178
|
|
|
Energy - Oil Field Equipment & Services—13.6%
|
|
|
|
8,579,154
|
2
|
Alfa Lula Alto S.a.r.l, 7.671% (90-DAY AVERAGE SOFR +2.100%), 1/15/2028
|
6/16/2023
|
8,493,837
|
8,556,445
|
771,187
|
2
|
Alfa Lula Alto S.a.r.l, 7.872% (90-DAY AVERAGE SOFR +2.300%), 12/15/2029
|
6/16/2023
|
755,763
|
762,903
|
7,341,703
|
2
|
Beta Lula Central S.a.r.l. (Lux, Inc.), 7.882% (90-DAY AVERAGE SOFR
+2.300%), 6/15/2030
|
12/6/2023
|
7,306,495
|
7,306,495
|
12,500,000
|
|
BP Singapore Pte Ltd., 6.401%, 1/31/2024
|
12/27/2023
|
12,500,000
|
12,500,000
|
12,750,000
|
|
Eni Trading & Shipping, Inc. (USA), 6.356%, 1/18/2024
|
12/22/2023
|
12,750,000
|
12,750,000
|
11,351,655
|
2
|
Sonasing Xikomba Ltd. (“Xikomba”), Bermuda, Inc., 7.927% (3-month USLIBOR
+2.300%), 5/29/2026
|
5/17/2022-
12/8/2023
|
11,355,005
|
11,351,655
|
8,500,000
|
2
|
Trafigura Pte Ltd. NZ, 7.223% (1-month USLIBOR +1.900%), 9/20/2024
|
9/23/2023
|
8,500,000
|
8,471,038
|
7,671,149
|
2
|
Yinson Bergenia Production, 9.283% (90-DAY AVERAGE SOFR +3.900%), 6/10/2028
|
3/6/2023-
12/19/2023
|
7,671,149
|
7,671,149
|
11,668,800
|
2
|
Yinson Boronia Production, 8.811% (3-month USLIBOR +3.250%), 8/11/2026
|
12/17/2021-
8/19/2022
|
11,668,800
|
11,668,800
|
|
|
TOTAL
|
|
|
81,038,485
|
|
|
Energy - Oil Refining and Marketing—1.2%
|
|
|
|
2,364,642
|
2
|
Trafigura Environmental Solutions S.a.r.l., 7.230% (30-DAY AVERAGE SOFR
+1.900%), 9/5/2024
|
9/6/2023
|
2,364,642
|
2,359,742
|
Foreign
Currency
Par Amount,
Principal
Amount
or Shares
|
|
|
Acquisition
Date1
|
Acquisition
Cost
in U.S. Dollars1
|
Value
in
U.S. Dollars
|
|
1
|
TRADE FINANCE AGREEMENTS—continued
|
|
|
|
|
|
Energy - Oil Refining and Marketing—continued
|
|
|
|
$ 4,882,500
|
2
|
Trafigura Pte Ltd. NZ, 7.470% (1-month USLIBOR +2.000%), 6/30/2024
|
12/20/2022
|
$ 4,882,500
|
$ 4,882,500
|
|
|
TOTAL
|
|
|
7,242,242
|
|
|
Foreign Sovereign—15.8%
|
|
|
|
5,000,000
|
|
African Export-Import Bank (Afreximbank), 6.187%, 4/29/2024
|
5/1/2023
|
5,000,000
|
5,000,000
|
EUR 6,000,000
|
2
|
Bank of Industry Ltd. - Central Bank of Nigeria, 5.623% (3-month EURIBOR
+1.650%), 7/20/2024
|
9/1/2023
|
6,402,561
|
6,603,284
|
294,400
|
2
|
Bank of Industry Ltd. - Central Bank of Nigeria, 8.484% (3-month EURIBOR
+4.500%), 2/14/2025
|
3/17/2020
|
323,016
|
325,003
|
2,625,000
|
2
|
Benin, Government of, 8.052% (6-month EURIBOR +3.950%), 4/30/2027
|
6/29/2023
|
2,848,832
|
2,891,866
|
4,457,143
|
2
|
Benin, Government of, 8.222% (6-month EURIBOR +4.300%), 12/21/2026
|
12/23/2021
|
5,051,949
|
4,920,463
|
4,114,286
|
|
Benin, Government of, 8.222%, 12/21/2026
|
12/21/2021
|
4,642,149
|
4,359,542
|
2,333,041
|
|
Burkina Faso, Government of, 3.600%, 3/1/2024
|
3/22/2023-
5/31/2023
|
1,951,837
|
2,012,017
|
10,000,000
|
2
|
Cote D’Ivoire, Government of, 6.958% (3-month EURIBOR +2.900%), 12/7/2024
|
5/17/2022
|
10,544,469
|
11,039,502
|
3,889,200
|
|
Cote D’Ivoire, Government of, 8.835%, 12/31/2025
|
9/3/2019-
8/24/2021
|
3,586,651
|
3,369,303
|
$ 9,984,254
|
|
Egypt, Government of, 7.887%, 8/27/2024
|
1/3/2023-
8/24/2023
|
9,956,754
|
9,883,898
|
8,794,737
|
2
|
Energy Development Oman, 7.403% (3-month USLIBOR +2.050%), 8/14/2028
|
9/28/2021-
12/5/2023
|
8,766,427
|
8,794,737
|
EUR 3,500,000
|
2
|
Minister of Finance of Ukraine, 8.032% (3-month EURIBOR +4.100%), 9/1/2026
|
8/26/2021
|
4,114,075
|
3,144,115
|
8,000,000
|
2
|
Senegal, Government of, 8.273% (3-month EURIBOR +4.350%), 3/1/2026
|
6/9/2023
|
8,596,798
|
8,831,601
|
$ 62,500
|
2
|
Sharjah Govt., 6.830% (3-month USLIBOR +1.200%), 3/4/2024
|
9/21/2020
|
62,188
|
62,500
|
10,000,000
|
2
|
The Federal Republic of Nigeria acting by and through the Federal Ministry of Finance,
Budget and National Planning of Nigeria (“MOF”), 11.486% (3-month USLIBOR
+5.950%), 12/30/2024
|
9/1/2022-
1/19/2023
|
10,000,000
|
10,000,000
|
EUR 5,000,000
|
2
|
Turkiye Ihracat Kredi Bankasi A.S., 7.720% (6-month EURIBOR +3.650%), 5/23/2024
|
10/17/2023
|
5,277,657
|
5,519,751
|
$ 7,500,000
|
|
Turkiye Ihracat Kredi Bankasi A.S., 8.727%, 9/17/2024
|
9/13/2023
|
7,500,000
|
7,500,000
|
|
|
TOTAL
|
|
|
94,257,582
|
|
|
Government Agency—3.3%
|
|
|
|
EUR 7,500,000
|
2
|
Republic of Senegal via Ministry of Finance and Budget, 9.724% (6-month EURIBOR
+5.800%), 12/22/2028
|
12/19/2023
|
8,233,877
|
8,256,740
|
5,538,843
|
|
Republic of Senegal, represented by the Ministry of Economy, Planning & Corporation,
8.015%, 4/5/2024
|
1/11/2023-
4/17/2023
|
5,975,637
|
6,114,606
|
5,000,000
|
2
|
The Republic De Cote D’Ivoire via The Ministre Des Finances Et Du Budget, 6.931%
(3-month EURIBOR +3.000%), 12/19/2024
|
12/21/2023
|
5,458,589
|
5,476,697
|
|
|
TOTAL
|
|
|
19,848,043
|
|
|
Machinery—1.3%
|
|
|
|
$ 7,519,057
|
|
Dover Corp. and its subsidiaries, 5.885%, 4/15/2024
|
9/21/2023-
12/20/2023
|
7,401,124
|
7,514,942
|
|
|
Packaging—1.3%
|
|
|
|
7,937,674
|
|
Westrock Shared Services, LLC and other subsidiaries of the Parent, 5.848%, 3/11/2024
|
12/7/2023-
12/20/2023
|
7,848,392
|
7,935,174
|
|
|
Pharmaceuticals—1.3%
|
|
|
|
EUR 7,000,000
|
2
|
Medina, 6.948% (3-month EURIBOR +3.000%), 4/30/2029
|
8/31/2023
|
7,517,260
|
7,635,912
|
|
|
Supranational—3.2%
|
|
|
|
$ 9,000,000
|
2
|
Africa Finance Corp., 6.059% (3-month USLIBOR +0.900%), 1/17/2025
|
3/11/2022
|
9,000,000
|
9,000,000
|
5,000,000
|
2
|
Eastern and Southern African Trade and Development Bank, 6.738% (90-DAY AVERAGE
SOFR +1.350%), 8/23/2024
|
2/9/2023
|
4,936,750
|
4,956,866
|
5,000,000
|
2
|
Eastern and Southern African Trade and Development Bank, 6.838% (90-DAY AVERAGE
SOFR +1.450%), 8/23/2026
|
7/18/2023
|
4,876,750
|
4,952,140
|
|
|
TOTAL
|
|
|
18,909,006
|
Foreign
Currency
Par Amount,
Principal
Amount
or Shares
|
|
|
Acquisition
Date1
|
Acquisition
Cost
in U.S. Dollars1
|
Value
in
U.S. Dollars
|
|
1
|
TRADE FINANCE AGREEMENTS—continued
|
|
|
|
|
|
Telecommunications - Wireless—5.8%
|
|
|
|
$12,220,000
|
2
|
IHS Holding Ltd., Cayman Islands, Inc., 9.130% (SOFR +3.750%), 10/28/2025
|
12/13/2022-
10/31/2023
|
$11,820,750
|
$ 12,136,996
|
EUR 482,625
|
2
|
Phoenix Tower International (PTI) Iberica V, NewCo created and, Inc. in Spain, 7.352%
(6-month EURIBOR +3.250%), 10/25/2030
|
10/19/2023-
12/21/2023
|
520,174
|
541,919
|
4,800,000
|
2
|
Phoenix Tower International (PTI) Iberica V, NewCo created and, Inc. in Spain, 7.352%
(6-month EURIBOR +3.250%), 10/25/2030
|
10/19/2023
|
5,082,242
|
5,389,711
|
$ 7,000,000
|
2
|
Phoenix Tower International Spain ETVE, S.L.U., 9.348% (SOFR +4.000%), 8/10/2027
|
11/21/2022
|
6,951,000
|
7,064,209
|
EUR 8,750,000
|
2
|
TDC Net A/S, 6.273% (3-month EURIBOR +2.300%), 2/2/2027
|
3/28/2023
|
9,492,118
|
9,659,564
|
|
|
TOTAL
|
|
|
34,792,399
|
|
|
Transportation - Transport Infrastructure/Services—2.7%
|
|
|
|
7,500,000
|
2
|
Fraport TAV Antalya Yatirim Yapim ve Isletme (SPV, Turkey), 9.420% (6-month EURIBOR
+5.500%), 3/25/2024
|
9/1/2022
|
7,461,002
|
8,296,592
|
$ 8,125,000
|
2
|
Impala Terminals Switzerland SAR, 8.543% (SOFR +3.000%), 8/13/2025
|
3/28/2023-
12/1/2023
|
8,020,208
|
8,037,874
|
|
|
TOTAL
|
|
|
16,334,466
|
|
|
Utility - Electric-Generation—2.8%
|
|
|
|
EUR 7,000,000
|
2
|
Eesti Energia AS, 8.428% (3-month EURIBOR +4.500%), 5/11/2028
|
5/5/2023
|
7,712,249
|
7,727,651
|
$ 4,620,000
|
2
|
Karadeniz Powership Osman Khan Co., Ltd., 11.400% (6-month USLIBOR
+5.500%), 9/15/2026
|
10/14/2021
|
4,573,800
|
4,605,124
|
2,024,000
|
2
|
Karpower International DMCC (opco, Dubai)(“Karpower Reef”), 11.848% (SOFR
+6.500%), 6/30/2026
|
3/20/2023
|
1,998,700
|
1,863,381
|
1,464,354
|
2
|
Karpowership, 10.429% (6-month USLIBOR +4.500%), 2/28/2025
|
7/20/2020-
8/30/2022
|
1,448,065
|
1,471,676
|
250,879
|
2
|
SMN Barka Power Co. S.A.O.C., 6.425% (6-month USLIBOR +1.125%), 3/28/2024
|
12/2/2020
|
230,809
|
249,549
|
615,385
|
2
|
The Sharjah Electricity and Water Authority, 7.589% (1-month USLIBOR
+1.950%), 12/23/2025
|
12/21/2020
|
614,308
|
615,385
|
|
|
TOTAL
|
|
|
16,532,766
|
|
|
TOTAL TRADE FINANCE AGREEMENTS
(IDENTIFIED COST $549,759,052)
|
|
|
552,331,464
|
|
|
INVESTMENT COMPANY—1.9%
|
|
|
|
11,192,427
|
|
Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares,
5.45%6
(IDENTIFIED COST $11,185,538)
|
|
|
11,198,023
|
|
|
TOTAL INVESTMENT IN SECURITIES—94.5%
(IDENTIFIED COST $560,944,590)
|
|
|
563,529,487
|
|
|
OTHER ASSETS AND LIABILITIES - NET—5.5%7
|
|
|
33,082,409
|
|
|
TOTAL NET ASSETS—100%
|
|
|
$596,611,896
|
Settlement
Date
|
Counterparty
|
Foreign
Currency
Units to
Deliver/Receive
|
In
Exchange
For
|
Net Unrealized
(Depreciation)
|
|
Contracts Sold:
|
|
|
|
|
|
3/28/2024
|
Morgan Stanley Capital Services
|
14,000,000
|
EUR
|
$14,861,244
|
$(646,742)
|
3/28/2024
|
State Street Bank & Trust Co.
|
2,300,000
|
EUR
|
$2,493,205
|
$(54,536)
|
3/28/2024
|
JPMorgan Chase Bank, N.A.
|
5,000,000
|
EUR
|
$5,349,160
|
$(189,406)
|
3/28/2024
|
State Street Bank & Trust Co.
|
73,886,000
|
EUR
|
$81,047,268
|
$(797,236)
|
3/28/2024
|
State Street Bank & Trust Co.
|
4,900,000
|
EUR
|
$5,219,078
|
$(208,717)
|
3/28/2024
|
Morgan Stanley Capital Services
|
76,239,000
|
EUR
|
$83,607,774
|
$(843,179)
|
3/28/2024
|
JPMorgan Chase Bank, N.A.
|
5,100,000
|
EUR
|
$5,446,520
|
$(202,817)
|
NET UNREALIZED DEPRECIATION ON FOREIGN EXCHANGE CONTRACTS
|
$(2,942,633)
|
|
Federated Hermes Institutional
Prime Value
Obligations Fund,
Institutional Shares
|
Value as of 3/31/2023
|
$90,363,791
|
Purchases at Cost
|
$326,468,431
|
Proceeds from Sales
|
$(405,674,285)
|
Change in Unrealized Appreciation/Depreciation
|
$(2,960)
|
Net Realized Gain/(Loss)
|
$43,046
|
Value as of 12/31/2023
|
$11,198,023
|
Shares Held as of 12/31/2023
|
11,192,427
|
Dividend Income
|
$2,458,007
|
1
|
Denotes a restricted security that either: (a) cannot be offered for public sale without
first being registered, or availing of an exemption from registration, under
the Securities Act of 1933; or (b) is subject to a contractual restriction on public
sales. At December 31, 2023, these restricted securities amounted to
$552,331,464, which represented 92.6% of total net assets.
|
2
|
Floating/variable note with current rate and current maturity or next reset date shown.
|
3
|
Issuer in default.
|
4
|
Market quotations and price evaluations are not available. Fair value determined using
significant unobservable inputs in accordance with procedures established
by and under the general supervision of the Fund’s Adviser acting through its Valuation Committee (“Valuation Committee”).
|
5
|
Non-income-producing security.
|
6
|
7-day net yield.
|
7
|
Assets, other than investments in securities, less liabilities.
|
Valuation Inputs
|
||||
|
Level 1—
Quoted
Prices
|
Level 2—
Other
Significant
Observable
Inputs
|
Level 3—
Significant
Unobservable
Inputs
|
Total
|
Debt Securities:
|
|
|
|
|
Trade Finance Agreements
|
$—
|
$—
|
$552,331,464
|
$552,331,464
|
Investment Company
|
11,198,023
|
—
|
—
|
11,198,023
|
TOTAL SECURITIES
|
$11,198,023
|
$—
|
$552,331,464
|
$563,529,487
|
Other Financial Instruments1
|
|
|
|
|
Liabilities
|
$—
|
$(2,942,633)
|
$—
|
$(2,942,633)
|
TOTAL OTHER
FINANCIAL INSTRUMENTS
|
$—
|
$(2,942,633)
|
$—
|
$(2,942,633)
|
1
|
Other financial instruments are foreign exchange contracts.
|
|
Investments in Trade
Finance Agreements
|
Balance as of 3/31/2023
|
$472,021,560
|
Accreted/amortized discount/premiums
|
2,064,861
|
Realized gain (loss)
|
(1,378,691)
|
Change in unrealized appreciation/depreciation
|
6,411,445
|
Purchases
|
521,677,313
|
(Sales)
|
(448,465,024)
|
Balance as of 12/31/2023
|
$552,331,464
|
Total change in unrealized appreciation/depreciation attributable to
investments still held at 12/31/2023
|
$6,408,485
|
The following acronym(s) are used throughout this portfolio:
|
|
|
EUR
|
—Euro
|
|
EURIBOR
|
—Euro Interbank Offered Rate
|
|
JSC
|
—Joint Stock Company
|
|
LIBOR
|
—London Interbank Offered Rate
|
|
SOFR
|
—Secured Overnight Financing Rate
|