Principal
Amount
or Shares
|
|
|
Value
|
|
|
U.S. TREASURIES—57.4%
|
|
|
|
U.S. Treasury Notes—57.4%
|
|
$ 4,000,000
|
|
0.125%, 1/15/2024
|
$3,959,900
|
5,000,000
|
|
0.250%, 9/30/2023
|
4,977,876
|
10,000,000
|
|
0.250%, 5/15/2024
|
9,887,483
|
5,000,000
|
|
0.375%, 10/31/2023
|
4,986,376
|
4,000,000
|
|
0.375%, 9/15/2024
|
3,956,553
|
4,000,000
|
|
0.625%, 10/15/2024
|
3,981,600
|
6,000,000
|
|
0.750%, 11/15/2024
|
5,986,406
|
5,000,000
|
|
1.375%, 2/15/2023
|
5,064,497
|
5,000,000
|
|
1.500%, 1/15/2023
|
5,067,338
|
8,000,000
|
|
1.500%, 3/31/2023
|
8,122,142
|
4,000,000
|
|
1.625%, 12/15/2022
|
4,056,650
|
5,000,000
|
|
1.875%, 9/30/2022
|
5,069,766
|
|
|
TOTAL U.S. TREASURIES
(IDENTIFIED COST $64,814,339)
|
65,116,587
|
|
|
GOVERNMENT AGENCIES—40.6%
|
|
|
|
Federal Farm Credit System—1.7%
|
|
2,000,000
|
|
0.875%, 4/8/2024
|
1,998,306
|
|
|
Federal Home Loan Bank System—22.2%
|
|
4,000,000
|
|
0.500%, 11/9/2023
|
3,997,932
|
3,145,000
|
|
0.650%, 1/29/2025
|
3,112,139
|
5,000,000
|
|
1.375%, 2/17/2023
|
5,061,594
|
6,000,000
|
|
1.700%, 1/24/2024
|
6,015,203
|
6,780,000
|
|
2.250%, 12/8/2023
|
7,009,025
|
|
|
TOTAL
|
25,195,893
|
|
|
Federal Home Loan Mortgage Corporation—5.2%
|
|
2,000,000
|
|
0.450%, 3/24/2025
|
1,963,575
|
4,000,000
|
|
0.625%, 11/25/2025
|
3,928,143
|
|
|
TOTAL
|
5,891,718
|
|
|
Federal National Mortgage Association—11.5%
|
|
3,000,000
|
|
0.350%, 4/26/2024
|
2,971,391
|
5,000,000
|
|
0.730%, 6/30/2025
|
4,940,806
|
5,000,000
|
|
2.375%, 1/19/2023
|
5,113,293
|
|
|
TOTAL
|
13,025,490
|
|
|
TOTAL GOVERNMENT AGENCIES
(IDENTIFIED COST $46,221,021)
|
46,111,407
|
|
|
INVESTMENT COMPANY—1.7%
|
|
1,916,253
|
|
Federated Hermes Government Obligations Fund, Premier Shares, 0.03%1
(IDENTIFIED COST $1,916,253)
|
1,916,253
|
|
|
TOTAL INVESTMENT IN SECURITIES—99.7%
(IDENTIFIED COST $112,951,613)
|
113,144,247
|
|
|
OTHER ASSETS AND LIABILITIES - NET—0.3%2
|
286,766
|
|
|
TOTAL NET ASSETS—100%
|
$113,431,013
|
Description
|
Number of
Contracts
|
Notional
Value
|
Expiration
Date
|
Value and
Unrealized
Depreciation
|
Short Futures:
|
|
|
|
|
3United States Treasury Notes 2-Year Short Futures
|
30
|
$6,562,031
|
March 2022
|
$(4,292)
|
|
Federated Hermes
Government
Obligations Fund,
Premier Shares
|
Value as of 2/28/2021
|
$4,635,228
|
Purchases at Cost
|
$57,687,280
|
Proceeds from Sales
|
$(60,406,255)
|
Change in Unrealized Appreciation/Depreciation
|
N/A
|
Net Realized Gain/(Loss)
|
N/A
|
Value as of 11/30/2021
|
$1,916,253
|
Shares Held as of 11/30/2021
|
1,916,253
|
Dividend Income
|
$561
|
1
|
7-day net yield.
|
2
|
Assets, other than investments in securities, less liabilities.
|
3
|
Non-income-producing security.
|
Valuation Inputs
|
||||
|
Level 1—
Quoted
Prices
|
Level 2—
Other
Significant
Observable
Inputs
|
Level 3—
Significant
Unobservable
Inputs
|
Total
|
Debt Securities:
|
|
|
|
|
U.S. Treasuries
|
$—
|
$65,116,587
|
$—
|
$65,116,587
|
Government Agencies
|
—
|
46,111,407
|
—
|
46,111,407
|
Investment Company
|
1,916,253
|
—
|
—
|
1,916,253
|
TOTAL SECURITIES
|
$1,916,253
|
$111,227,994
|
$—
|
$113,144,247
|
Other Financial Instruments:1
|
|
|
|
|
Liabilities
|
$(4,292)
|
$—
|
$—
|
$(4,292)
|
TOTAL OTHER FINANCIAL INSTRUMENTS
|
$(4,292)
|
$—
|
$—
|
$(4,292)
|
1
|
Other financial instruments are futures contracts.
|