Shares
|
|
|
Value in
U.S. Dollars
|
|
|
COMMON STOCKS—48.5%
|
|
|
|
Belgium—0.9%
|
|
63,500
|
|
D'leteren Group
|
$12,299,523
|
|
|
Canada—5.6%
|
|
2,127,400
|
|
Lundin Mining Corp.
|
13,236,809
|
232,952
|
|
Magna International, Inc.
|
12,983,510
|
393,315
|
|
Methanex Corp.
|
19,840,140
|
392,800
|
|
Open Text Corp.
|
13,521,303
|
232,227
|
|
Toronto Dominion Bank
|
15,461,944
|
|
|
TOTAL
|
75,043,706
|
|
|
Chile—0.5%
|
|
325,200
|
|
Antofagasta PLC
|
6,135,034
|
|
|
China—1.1%
|
|
10,378,000
|
|
Weichai Power Co. Ltd., Class H
|
15,389,870
|
|
|
Colombia—0.0%
|
|
42,373
|
|
Bancolombia S.A.
|
313,039
|
|
|
France—4.2%
|
|
145,400
|
|
Ipsos
|
8,932,070
|
426,600
|
|
Michelin (CDGE)
|
13,403,020
|
219,178
|
|
Publicis Groupe
|
17,402,460
|
149,357
|
|
Vinci SA
|
17,017,981
|
|
|
TOTAL
|
56,755,531
|
|
|
Germany—3.6%
|
|
720,593
|
|
Deutsche Telekom AG, Class REG
|
16,182,109
|
431,700
|
1
|
flatexDEGIRO AG
|
3,692,762
|
64,200
|
|
Hannover Rueckversicherung SE
|
12,487,843
|
46,400
|
|
Munich Reinsurance Company
|
16,003,677
|
|
|
TOTAL
|
48,366,391
|
|
|
Greece—0.4%
|
|
242,400
|
|
Jumbo S.A.
|
4,832,289
|
|
|
Ireland—2.6%
|
|
4,889,054
|
1
|
Greencore Group plc
|
4,795,288
|
98,100
|
1
|
Jazz Pharmaceuticals plc
|
13,773,240
|
423,188
|
|
Smurfit Kappa Group plc
|
15,795,402
|
|
|
TOTAL
|
34,363,930
|
|
|
Italy—0.1%
|
|
2,474,314
|
1
|
Trevi Finanziaria S.p.A.
|
1,008,499
|
|
|
Japan—5.8%
|
|
1,064,700
|
|
Daicel Corp.
|
7,382,221
|
117,200
|
|
Daito Trust Construction Co. Ltd.
|
11,035,914
|
521,400
|
|
Honda Motor Co. Ltd.
|
13,514,734
|
461,300
|
|
KDDI Corp.
|
13,504,175
|
1,337,600
|
|
Marubeni Corp.
|
17,092,306
|
186,800
|
|
Sony Group Corp.
|
15,578,713
|
|
|
TOTAL
|
78,108,063
|
|
|
Netherlands—1.1%
|
|
443,800
|
|
Koninklijke Ahold NV
|
14,082,165
|
Shares
|
|
|
Value in
U.S. Dollars
|
|
|
COMMON STOCKS—continued
|
|
|
|
Norway—3.3%
|
|
763,944
|
|
DNB Bank ASA
|
$15,271,299
|
424,949
|
|
Sparebanken Vest
|
4,122,203
|
835,453
|
|
SpareBank 1 SR-Bank ASA
|
10,454,432
|
307,200
|
|
Yara International ASA
|
14,599,171
|
|
|
TOTAL
|
44,447,105
|
|
|
Puerto Rico—1.0%
|
|
194,000
|
|
Popular, Inc.
|
13,851,600
|
|
|
Russia—0.0%
|
|
8,422,100
|
2
|
Alrosa AO
|
0
|
|
|
Singapore—1.1%
|
|
672,899
|
|
United Overseas Bank Ltd.
|
14,923,516
|
|
|
South Korea—6.1%
|
|
60,059
|
|
Hyundai Mobis
|
9,629,555
|
236,500
|
|
Kia Corp.
|
13,430,566
|
103,600
|
|
LG Electronics, Inc.
|
8,681,511
|
1,406,000
|
|
LG Uplus Corp.
|
11,749,705
|
312,712
|
|
Samsung Electronics Co. Ltd.
|
14,279,532
|
423,640
|
|
Shinhan Financial Group Co. Ltd.
|
12,421,566
|
183,900
|
|
SK Hynix, Inc.
|
12,368,234
|
|
|
TOTAL
|
82,560,669
|
|
|
Sweden—2.5%
|
|
448,600
|
1
|
Duni AB
|
4,032,687
|
352,326
|
|
Loomis AB
|
11,380,871
|
918,600
|
|
SKF Ab, Class B
|
17,450,977
|
|
|
TOTAL
|
32,864,535
|
|
|
Switzerland—1.0%
|
|
162,166
|
|
Novartis AG
|
13,642,490
|
|
|
Thailand—0.3%
|
|
1,564,700
|
|
Tisco Financial Group PCL
|
4,559,479
|
|
|
United Kingdom—7.3%
|
|
1,075,900
|
|
Amcor PLC
|
11,985,526
|
396,462
|
|
BELLWAY PLC
|
10,558,079
|
1,125,863
|
|
Inchcape PLC
|
12,301,646
|
47,066
|
|
Linde PLC
|
16,396,382
|
148,549
|
|
Mondi PLC, UK
|
2,488,316
|
695,587
|
|
Mondi PLC, SAF
|
11,851,794
|
205,426
|
|
Next PLC
|
16,870,777
|
186,800
|
1
|
Nomad Foods Ltd.
|
3,347,456
|
8,002,401
|
|
Taylor Wimpey PLC
|
11,843,901
|
|
|
TOTAL
|
97,643,877
|
|
|
TOTAL COMMON STOCKS
(IDENTIFIED COST $550,777,384)
|
651,191,311
|
|
|
WARRANTS—0.0%
|
|
|
|
Italy—0.0%
|
|
17,191
|
1
|
Trevi Finanziaria S.p.A., Warrants
(IDENTIFIED COST $1,427,897)
|
32,729
|
|
|
INVESTMENT COMPANIES—51.1%
|
|
20,285,138
|
|
Federated Hermes Government Obligations Fund, Premier Shares, 4.44%3
|
20,285,138
|
15,625,090
|
|
Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 4.61%3
|
15,625,090
|
Shares
|
|
|
Value in
U.S. Dollars
|
|
|
INVESTMENT COMPANIES—continued
|
|
50,263,802
|
|
Federated Hermes International Growth Fund, Institutional Shares
|
$651,418,872
|
|
|
TOTAL INVESTMENT COMPANIES
(IDENTIFIED COST $621,557,208)
|
687,329,100
|
|
|
TOTAL INVESTMENT IN SECURITIES—99.6%
(IDENTIFIED COST $1,173,762,489)
|
1,338,553,140
|
|
|
OTHER ASSETS AND LIABILITIES - NET—0.4%4
|
5,460,078
|
|
|
TOTAL NET ASSETS—100%
|
$1,344,013,218
|
|
Federated Hermes
Government
Obligations Fund,
Premier Shares
|
Federated Hermes
Institutional
Prime Value
Obligations Fund,
Institutional Shares
|
Federated Hermes
International
Growth Fund,
Institutional Shares*
|
Total of
Affiliated
Transactions
|
Value as of 5/31/2022
|
$65,389,264
|
$19,065,274
|
$729,334,879
|
$813,789,417
|
Purchases at Cost
|
$147,190,571
|
$79,013,980
|
$22,901,926
|
$249,106,477
|
Proceeds from Sales
|
$(192,294,697)
|
$(82,458,637)
|
$(37,000,000)
|
$(311,753,334)
|
Change in Unrealized Appreciation/Depreciation
|
—
|
$133
|
$(53,094,291)
|
$(53,094,158)
|
Net Realized Gain/(Loss)
|
—
|
$4,340
|
$(10,723,642)
|
$(10,719,302)
|
Value as of 2/28/2023
|
$20,285,138
|
$15,625,090
|
$651,418,872
|
$687,329,100
|
Shares Held as of 2/28/2023
|
20,285,138
|
15,625,090
|
50,263,802
|
86,174,030
|
Dividend Income
|
$157,547
|
$108,422
|
$7,571,600
|
$7,837,569
|
Valuation Inputs
|
|
|
|
|
|
Level 1—
Quoted
Prices
|
Level 2—
Other
Significant
Observable
Inputs
|
Level 3—
Significant
Unobservable
Inputs
|
Total
|
Equity Securities:
|
|
|
|
|
Common Stocks
|
|
|
|
|
International
|
$134,710,949
|
$516,480,362
|
$0
|
$651,191,311
|
Warrants
|
|
|
|
|
International
|
32,729
|
—
|
—
|
32,729
|
Investment Companies
|
687,329,100
|
—
|
—
|
687,329,100
|
TOTAL SECURITIES
|
$822,072,778
|
$516,480,362
|
$0
|
$1,338,553,140
|