Shares
|
|
|
Value in
U.S. Dollars
|
|
|
COMMON STOCKS—98.4%
|
|
|
|
Argentina—2.9%
|
|
1,450
|
1
|
Mercadolibre, Inc.
|
$1,769,000
|
|
|
Brazil—3.4%
|
|
168,584
|
1
|
3R Petroleum Oleo e Gas S.A.
|
1,172,420
|
83,302
|
|
Intelbras SA Industria de Telecomunicacao Eletronica Brasilerira
|
450,763
|
42,572
|
|
Localiza Rent A Car SA
|
451,216
|
|
|
TOTAL
|
2,074,399
|
|
|
Chile—2.0%
|
|
13,504
|
|
Sociedad Quimica Y Minera de Chile, ADR
|
1,198,480
|
|
|
China—33.3%
|
|
154,629
|
|
Aier Eye Hospital Group Co., Ltd.
|
695,913
|
217,419
|
1
|
Alibaba Group Holding Ltd.
|
2,389,118
|
37,660
|
1
|
Bilibili, Inc.
|
730,596
|
26,864
|
|
Bloomage Biotechnology Corp. Ltd.
|
490,141
|
196,956
|
|
China Merchants Bank Co. Ltd.
|
1,071,259
|
579,000
|
|
CMOC Group Ltd.
|
325,147
|
10,200
|
|
Contemporary Amperex Technology Co. Ltd.
|
592,043
|
146,760
|
|
Ganfeng Lithium Group Co Ltd.
|
1,022,219
|
69,700
|
|
Hangzhou Tigermed Consulting Co., Ltd.
|
803,962
|
13,717
|
|
JD.com, Inc.
|
305,002
|
102,100
|
1
|
Kuaishou Technology
|
682,906
|
2,390
|
|
Kweichow Moutai Co. Ltd.
|
623,444
|
336,500
|
|
Medlive Technology Co., Ltd.
|
410,653
|
100,206
|
1
|
Meituan
|
1,731,388
|
144,920
|
|
Nari Technology Development Co., Ltd.
|
547,912
|
79,650
|
|
Shenzhen Inovance Technology Co. Ltd.
|
840,118
|
79,064
|
|
Tencent Holdings Ltd.
|
3,474,196
|
93,700
|
|
Wuxi Lead Intelligent Equipment Co. Ltd.
|
586,181
|
121,059
|
1
|
Wuxi Biologics Cayman, Inc.
|
844,269
|
30,200
|
|
Yunnan Energy New Material Co., Ltd.
|
545,710
|
998,022
|
|
Zijin Mining Group Co. Ltd.
|
1,520,132
|
|
|
TOTAL
|
20,232,309
|
|
|
Hong Kong—1.1%
|
|
62,594
|
|
AIA Group Ltd.
|
663,180
|
|
|
India—7.6%
|
|
18,380
|
|
HDFC Bank Ltd., ADR
|
1,243,223
|
72,573
|
|
KPIT Technologies Ltd.
|
727,653
|
73,898
|
1
|
Max Healthcare Institute Ltd.
|
380,682
|
37,760
|
|
Reliance Industries Ltd.
|
1,060,387
|
75,890
|
|
Varun Beverages Ltd.
|
1,193,302
|
|
|
TOTAL
|
4,605,247
|
|
|
Indonesia—3.3%
|
|
2,534,270
|
|
PT Bank Central Asia
|
1,453,870
|
1,245,100
|
|
PT Vale Indonesia Tbk
|
558,603
|
|
|
TOTAL
|
2,012,473
|
|
|
Kazakhstan—0.9%
|
|
7,347
|
2
|
Kaspi.Kz JSC, GDR
|
544,988
|
Shares
|
|
|
Value in
U.S. Dollars
|
|
|
COMMON STOCKS—continued
|
|
|
|
Malaysia—3.2%
|
|
1,841,700
|
|
CTOS Digital Bhd
|
$590,878
|
914,200
|
|
Frontken Corp. Bhd
|
637,047
|
607,200
|
|
Press Metal Aluminium Holdings Bhd
|
697,911
|
|
|
TOTAL
|
1,925,836
|
|
|
Mexico—1.8%
|
|
278,481
|
|
Wal-Mart de Mexico SAB de C.V.
|
1,097,395
|
|
|
Nigeria—0.8%
|
|
337,580
|
|
Airtel Africa PLC
|
489,446
|
|
|
Peru—1.2%
|
|
9,777
|
|
Southern Copper Corp.
|
720,467
|
|
|
Poland—1.7%
|
|
12,388
|
1
|
Dino Polska SA
|
1,034,471
|
|
|
Saudi Arabia—1.2%
|
|
153,653
|
1
|
Americana Restaurants International PLC
|
145,355
|
68,880
|
1
|
Saudi Arabian Oil Co. (Aramco)
|
583,393
|
|
|
TOTAL
|
728,748
|
|
|
Singapore—0.9%
|
|
8,389
|
1
|
Sea Ltd., ADR
|
524,229
|
|
|
South Africa—1.8%
|
|
8,466
|
|
Capitec Bank Holdings Ltd.
|
808,191
|
28,106
|
|
Gold Fields Ltd., ADR
|
255,484
|
|
|
TOTAL
|
1,063,675
|
|
|
South Korea—14.1%
|
|
12,879
|
|
Ecopro BM Co., Ltd.
|
1,613,221
|
16,110
|
|
Kakao Corp.
|
755,847
|
21,258
|
|
Korea Aerospace Industry
|
723,112
|
1,387
|
1
|
LG Energy Solution, Ltd.
|
546,950
|
6,676
|
|
Samsung Electro-Mechanics Co.
|
724,438
|
43,188
|
|
Samsung Electronics Co. Ltd.
|
1,972,116
|
2,926
|
|
Samsung SDI Co. Ltd.
|
1,534,962
|
10,289
|
|
SK Hynix, Inc.
|
691,989
|
|
|
TOTAL
|
8,562,635
|
|
|
Taiwan—13.8%
|
|
33,063
|
|
AirTac International Group
|
1,158,750
|
8,274
|
|
ASPEED Technology, Inc.
|
750,362
|
42,525
|
|
Hiwin Technologies Corp.
|
349,871
|
38,704
|
|
MediaTek, Inc.
|
910,955
|
29,029
|
|
Momo.com, Inc.
|
750,532
|
22,840
|
|
Silergy Corp.
|
436,578
|
243,385
|
|
Taiwan Semiconductor Manufacturing Co. Ltd
|
4,034,850
|
|
|
TOTAL
|
8,391,898
|
|
|
Thailand—1.6%
|
|
482,400
|
1
|
Airports of Thailand Public Co. Ltd.
|
992,983
|
|
|
Vietnam—1.8%
|
|
274,756
|
|
JSC Bank of Foreign Trade of Vietnam
|
1,081,051
|
|
|
TOTAL COMMON STOCKS
(IDENTIFIED COST $60,808,464)
|
59,712,910
|
Shares
|
|
|
Value in
U.S. Dollars
|
|
|
INVESTMENT COMPANY—2.1%
|
|
1,279,151
|
|
Federated Hermes Institutional Prime Value Obligations Fund,
Institutional Shares, 4.61%3
(IDENTIFIED COST $1,279,113)
|
$1,279,151
|
|
|
TOTAL INVESTMENT IN SECURITIES—100.5%
(IDENTIFIED COST $62,087,577)
|
60,992,061
|
|
|
OTHER ASSETS AND LIABILITIES - NET—(0.5)%4
|
(291,651)
|
|
|
TOTAL NET ASSETS—100%
|
$60,700,410
|
|
Federated Hermes
Institutional
Prime Value
Obligations Fund,
Institutional Shares
|
Value as of 5/31/2022
|
$4,734,820
|
Purchases at Cost
|
$19,816,238
|
Proceeds from Sales
|
$(23,272,896)
|
Change in Unrealized Appreciation/Depreciation
|
$(744)
|
Net Realized Gain/(Loss)
|
$1,733
|
Value as of 2/28/2023
|
$1,279,151
|
Shares Held as of 2/28/2023
|
1,279,151
|
Dividend Income
|
$68,177
|
Security
|
Acquisition
Date
|
Acquisition
Cost
|
Market
Value
|
Kaspi.Kz JSC, GDR
|
2/17/2022
|
$544,303
|
$544,988
|
Valuation Inputs
|
|
|
|
|
|
Level 1—
Quoted
Prices
|
Level 2—
Other
Significant
Observable
Inputs
|
Level 3—
Significant
Unobservable
Inputs
|
Total
|
Equity Securities:
|
|
|
|
|
Common Stocks
|
|
|
|
|
International
|
$9,028,031
|
50,684,879
|
$—
|
$59,712,910
|
Investment Company
|
1,279,151
|
—
|
—
|
1,279,151
|
TOTAL SECURITIES
|
$10,307,182
|
$50,684,879
|
$—
|
$60,992,061
|
ADR
|
—American Depositary Receipt
|
GDR
|
—Global Depositary Receipt
|
JSC
|
—Joint Stock Company
|