0001145549-22-002654.txt : 20220125 0001145549-22-002654.hdr.sgml : 20220125 20220125125529 ACCESSION NUMBER: 0001145549-22-002654 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20211130 FILED AS OF DATE: 20220125 PERIOD START: 20220831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Federated Hermes Municipal Securities Income Trust CENTRAL INDEX KEY: 0000866700 IRS NUMBER: 251695291 STATE OF INCORPORATION: MA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-06165 FILM NUMBER: 22552261 BUSINESS ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 BUSINESS PHONE: 8003417400 MAIL ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 FORMER COMPANY: FORMER CONFORMED NAME: FEDERATED MUNICIPAL SECURITIES INCOME TRUST DATE OF NAME CHANGE: 19991029 FORMER COMPANY: FORMER CONFORMED NAME: MUNICIPAL SECURITIES INCOME TRUST DATE OF NAME CHANGE: 19921023 FORMER COMPANY: FORMER CONFORMED NAME: FEDERATED MUNICIPAL INCOME TRUST DATE OF NAME CHANGE: 19920703 0000866700 S000009093 Federated Hermes Ohio Municipal Income Fund C000024703 Class F Shares OMIFX C000070760 Class A Shares OMIAX C000219236 Institutional Shares OMIIX NPORT-P 1 primary_doc.xml NPORT-P false 0000866700 XXXXXXXX S000009093 C000070760 C000024703 C000219236 Federated Hermes Municipal Securities Income Trust 811-06165 0000866700 254900RAQHES8ITD1U55 Federated Hermes Funds 4000 Ericsson Drive Warrendale 15086-7561 8003417400 Federated Hermes Ohio Municipal Income Fund S000009093 EXCIXF0TML1VCJK7C095 2022-08-31 2021-11-30 N 154223592.690000000000 85638.560000000000 154137954.130000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 23694.750000000000 USD N AKRON BATH COPLEY JT TWP OH HO N/A AKRON BATH COPLEY JOINT TOWNSHIP HOSPITAL DISTRICT 009730MX7 2000000 PA USD 2040694.2 1.3239401104 Long DBT MUN US N 2 2032-11-15 Fixed 5 N N N N N N FRANKLIN CNTY OH HOSP FACS REV 549300VCBUC1RZE7KL42 COUNTY OF FRANKLIN OH 353187CQ8 1000000 PA USD 1138499.6 0.7386237909 Long DBT MUN US N 2 2040-05-15 Fixed 5 N N N N N N BOWLING GREEN OH ST UNIV N/A BOWLING GREEN STATE UNIVERSITY 102885HT0 2000000 PA USD 2309705.4 1.4984663661 Long DBT MUN US N 2 2044-06-01 Fixed 5 N N N N N N HAMILTON CNTY OH CONVENTION FA N/A HAMILTON COUNTY CONVENTION FACILITIES AUTHORITY 407277CT7 2000000 PA USD 2152249 1.3963134597 Long DBT MUN US N 2 2032-12-01 Fixed 5 N N N N N N OHIO ST HGR EDUCTNL FAC COMMIS 5493007MQT6NGNN6BR81 OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 67756A7Y2 1830000 PA USD 1912257.95 1.2406145915 Long DBT MUN US N 2 2031-12-01 Fixed 5 N N N N N N CLEVELAND OH WTR REVENUE N/A Cleveland Department of Public Utilities Division of Water 186427GL8 250000 PA USD 322161.88 0.2090087946 Long DBT MUN US N 2 2033-01-01 Fixed 5 N N N N N N OHIO ST HGR EDUCTNL FAC COMMIS 5493007MQT6NGNN6BR81 Ohio Higher Educational Facility Commission 67756DWG7 1025000 PA USD 1199980.01 0.7785104044 Long DBT MUN US N 2 2039-05-01 Fixed 4 N N N N N N AKRON OH INCOME TAX REVENUE N/A CITY OF AKRON OH 010056ED7 2000000 PA USD 2047609 1.3284262215 Long DBT MUN US N 2 2033-12-01 Fixed 5 N N N N N N COLUMBUS OH N/A City of Columbus OH 199492J67 2270000 PA USD 2967645.68 1.9253179379 Long DBT MUN US N 2 2039-04-01 Fixed 5 N N N N N N TOLEDO OH WTRWKS REVENUE N/A CITY OF TOLEDO OH WATER SYSTEM REVENUE 889396QP5 1000000 PA USD 1064585.6 0.6906706437 Long DBT MUN US N 2 2032-11-15 Fixed 5 N N N N N N FRANKLIN CNTY OH HOSP FACS REV 549300VCBUC1RZE7KL42 County of Franklin OH 353187DR5 1000000 PA USD 1232433.8 0.7995654328 Long DBT MUN US N 2 2029-11-01 Fixed 5 N N N N N N OHIO ST HGR EDUCTNL FAC COMMIS 5493007MQT6NGNN6BR81 OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 67756DFW1 2000000 PA USD 2276300.6 1.4767943514 Long DBT MUN US N 2 2041-07-01 Fixed 5 N N N N N N CLEVELAND HEIGHTS & UNIV HEIGH N/A CLEVELAND HEIGHTS & UNIVERSITY HEIGHTS CITY SCHOOL DISTRICT 186162JA2 1255000 PA USD 1344319.48 0.8721534469 Long DBT MUN US N 2 2051-12-01 Fixed 5 N N N N N N OHIO ST 5493005LEB5E170OMX59 STATE OF OHIO 677522HF4 3000000 PA USD 3445305 2.2352087255 Long DBT MUN US N 2 2033-11-01 Fixed 5 N N N N N N UNIV OF AKRON OH N/A UNIVERSITY OF AKRON/THE 914023LN4 1000000 PA USD 1180502.6 0.7658740553 Long DBT MUN US N 2 2036-01-01 Fixed 5 N N N N N N HAMILTON CNTY OH HLTH CARE REV 549300TO1E3N4E4YIO28 COUNTY OF HAMILTON OH 40727RBS6 500000 PA USD 551464.6 0.3577734005 Long DBT MUN US N 2 2036-01-01 Fixed 5 N N N N N N HAMILTON CNTY OH 549300TO1E3N4E4YIO28 County of Hamilton OH 40727GAR3 1075000 PA USD 1327107.5 0.8609868397 Long DBT MUN US N 2 2033-12-01 Fixed 5 N N N N N N AMERICAN MUNI PWR-OHIO INC OH EARKGGZJJEMVD66XQ486 AMERICAN MUNICIPAL POWER INC 02765UGC2 2250000 PA USD 2456324.1 1.5935881035 Long DBT MUN US N 2 2029-02-15 Fixed 5 N N N N N N OHIO ST ADULT CORRECTIONAL CAP 5493005LEB5E170OMX59 STATE OF OHIO 677524BU3 750000 PA USD 915686.85 0.5940696794 Long DBT MUN US N 2 2034-10-01 Fixed 5 N N N N N N CUYAHOGA CNTY OH SALES TAX REV 549300GHDK9DGLUNJU89 COUNTY OF CUYAHOGA OH 232287AU6 1340000 PA USD 1524833.03 0.9892651285 Long DBT MUN US N 2 2034-12-01 Fixed 5 N N N N N N AMERICAN MUNI PWR-OHIO INC OH EARKGGZJJEMVD66XQ486 AMERICAN MUNICIPAL POWER INC 02765UGK4 1000000 PA USD 1092160.5 0.7085603972 Long DBT MUN US N 2 2042-02-15 Fixed 5 N N N N N N OHIO ST 5493005LEB5E170OMX59 State of Ohio 677522G32 3000000 PA USD 3641058.3 2.3622074917 Long DBT MUN US N 2 2035-05-01 Fixed 5 N N N N N N HAMILTON CNTY OH HOSP FACS REV 549300TO1E3N4E4YIO28 County of Hamilton OH 407272V91 2000000 PA USD 2954809 1.9169898917 Long DBT MUN US N 2 2041-11-15 Fixed 5 N N N N N N COLUMBUS OH N/A CITY OF COLUMBUS OH 199492FV6 1500000 PA USD 1620939.75 1.0516162350 Long DBT MUN US N 2 2028-08-15 Fixed 5 N N N N N N CUYAHOGA CNTY OH HOSP REVENUE 549300GHDK9DGLUNJU89 COUNTY OF CUYAHOGA OH 2322655V6 1270000 PA USD 1513275.87 0.9817671958 Long DBT MUN US N 2 2057-02-15 Fixed 5.5 N N N N N N ALLEN CNTY OH HOSP FACS REVENU N/A COUNTY OF ALLEN OH HOSPITAL FACILITIES REVENUE 01757LFG6 1000000 PA USD 1120072 0.7266685265 Long DBT MUN US N 2 2043-11-01 Fixed 5 N N N N N N CLEVELAND HEIGHTS & UNIV HEIGH N/A CLEVELAND HEIGHTS & UNIVERSITY HEIGHTS CITY SCHOOL DISTRICT 186162JB0 850000 PA USD 909830.65 0.5902703556 Long DBT MUN US N 2 2051-12-01 Fixed 5 N N N N N N AKRON OH INCOME TAX REVENUE N/A CITY OF AKRON OH 010056DT3 500000 PA USD 511902.25 0.3321065554 Long DBT MUN US N 2 2023-12-01 Fixed 5 N N N N N N OHIO ST HOSP FAC REVENUE 5493005LEB5E170OMX59 State of Ohio 677561KV3 1500000 PA USD 1741021.8 1.1295218039 Long DBT MUN US N 2 2042-01-01 Fixed 4 N N N N N N OHIO ST HGR EDUCTNL FAC COMMIS 5493007MQT6NGNN6BR81 Ohio Higher Educational Facility Commission 67756DWE2 345000 PA USD 405405.46 0.2630146886 Long DBT MUN US N 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1758089.1 1.1405945472 Long DBT MUN US N 2 2030-12-01 Fixed 5 N N N N N N OHIO ST TURNPIKE COMMISSION N/A OHIO TURNPIKE & INFRASTRUCTURE COMMISSION 67760HLE9 350000 PA USD 424827.41 0.2756150569 Long DBT MUN US N 2 2028-02-15 Fixed 5 N N N N N N AMERICAN MUNI PWR-OHIO INC OH EARKGGZJJEMVD66XQ486 American Municipal Power Inc 02765UQE7 1000000 PA USD 1265298.5 0.8208870470 Long DBT MUN US N 2 2029-02-15 Fixed 5 N N N N N N UNIV OF CINCINNATI OH RECPTS 549300E0RD3ICJ858L23 UNIV OF CINCINNATI 4 6/38 914119X98 1000000 PA USD 1194651.2 0.7750532351 Long DBT MUN US N 2 2038-06-01 Fixed 4 N N N N N N COLUMBUS OH CITY SCH DIST N/A COLUMBUS CITY SCHOOL DISTRICT 1995075Q3 2000000 PA USD 2347687 1.5231076689 Long DBT MUN US N 2 2047-12-01 Fixed 5 N N N N N N OHIO ST TURNPIKE COMMISSION N/A OHIO TURNPIKE & INFRASTRUCTURE COMMISSION 67760HJY8 1000000 PA USD 1056974.5 0.6857327943 Long DBT MUN US N 2 2048-02-15 Fixed 5 N N N N N N OHIO ST HOSP REVENUE 5493005LEB5E170OMX59 STATE OF OHIO 67756CCZ9 2000000 PA USD 2300499 1.4924935348 Long DBT MUN US N 2 2046-01-15 Fixed 5 N N N N N N CINCINNATI OH WTR SYS REVENUE N/A CITY OF CINCINNATI OH WATER SYSTEM REVENUE 172311KS0 3000000 PA USD 3533094.9 2.2921641331 Long DBT MUN US N 2 2040-12-01 Fixed 5 N N N N N N CLEVELAND OH 549300IQSLQPCVVMKJ96 CLEVELAND OH-A 4 12/35 186343U80 500000 PA USD 598359.7 0.3881975101 Long DBT MUN US N 2 2035-12-01 Fixed 4 N N N N N N BUTLER CNTY OH HOSP FACS 54930064OLVQO8IVR655 COUNTY OF BUTLER OH 123550GT6 2000000 PA USD 2369404.2 1.5371971254 Long DBT MUN US N 2 2045-11-15 Fixed 5 N N N N N N FRANKLIN CNTY OH HLTH CARE FAC 549300VCBUC1RZE7KL42 COUNTY OF FRANKLIN OH 353180JQ6 1000000 PA USD 1086193 0.7046888653 Long DBT MUN US N 2 2044-11-15 Fixed 5 N N N N N N TOLEDO-LUCAS CNTY OH PORT AUTH 549300H1LURZO4MT2Q75 TOLEDO-LUCAS COUNTY PORT AUTHORITY 889260BT1 1500000 PA USD 1503255.15 0.9752660586 Long DBT MUN US N 2 2021-12-15 Fixed 6.45 N N N N N N OHIO ST AIR QUALITY DEV AUTH E 549300DZUU80AYOR6M80 OHIO AIR QUALITY DEVELOPMENT AUTHORITY 67754AAD6 500000 PA USD 570984.45 0.3704372834 Long DBT MUN US N 2 2038-01-15 Fixed 4.25 N N N N N N OHIO ST HGR EDUCTNL FAC COMMIS 5493007MQT6NGNN6BR81 Ohio Higher Educational Facility Commission 67756AH96 480000 PA USD 480000 0.3114093493 Long DBT MUN US N 2 2043-01-01 Variable 0.02 N N N N N N OHIO ST ADULT CORRECTIONAL CAP 5493005LEB5E170OMX59 State of Ohio 677524DR8 1000000 PA USD 1375191.6 0.8921823361 Long DBT MUN US N 2 2032-10-01 Fixed 5 N N N N N N HAMILTON CNTY OH HLTH CARE REV 549300TO1E3N4E4YIO28 COUNTY OF HAMILTON OH 40727RBU1 500000 PA USD 543737.6 0.3527603588 Long DBT MUN US N 2 2051-01-01 Fixed 5 N N N N N N FAIRFIELD CNTY OH N/A COUNTY OF FAIRFIELD OH 304279TZ5 2000000 PA USD 2169418 1.4074521828 Long DBT MUN US N 2 2040-12-01 Fixed 4 N N N N N N OHIO ST AIR QUALITY DEV AUTH 549300DZUU80AYOR6M80 Ohio Air Quality Development Authority 677525WF0 1000000 PA USD 1096776.7 0.7115552469 Long DBT MUN US N 2 2042-11-01 Variable 2.5 N N N N N N FRANKLIN CNTY OH SALES TAX REV N/A County of Franklin OH Sales Tax Revenue 353204AX8 3015000 PA USD 3692517.53 2.3955926695 Long DBT MUN US N 2 2048-06-01 Fixed 5 N N N N N N CLEVELAND OH INCOME TAX REVENU N/A CITY OF CLEVELAND OH INCOME TAX REVENUE 186387TT3 1000000 PA USD 1241280.1 0.8053046422 Long DBT MUN US N 2 2030-10-01 Fixed 5 N N N N N N OHIO ST SPL OBLG 5493005LEB5E170OMX59 STATE OF OHIO 67759HJB1 2000000 PA USD 2390388.2 1.5508109041 Long DBT MUN US N 2 2031-12-01 Fixed 5 N N N N N N COLUMBUS OH SWR REVENUE N/A CITY OF COLUMBUS OH SEWERAGE REVENUE 199561GL9 1000000 PA USD 1131200.7 0.7338884874 Long DBT MUN US N 2 2031-06-01 Fixed 5 N N N N N N OHIO ST PRIVATE ACTIVITY REVEN 5493005LEB5E170OMX59 STATE OF OHIO 67759YAX5 3325000 PA USD 3699172.56 2.3999102498 Long DBT MUN US N 2 2039-12-31 Fixed 5 N N N N N N SWITZERLAND OF OHIO OH LOCAL S N/A SWITZERLAND OF OHIO LOCAL SCHOOL DISTRICT 871089FV5 500000 PA USD 535194.5 0.3472178563 Long DBT MUN US N 2 2027-12-01 Fixed 5 N N N N N N HAMILTON CNTY OH 549300TO1E3N4E4YIO28 COUNTY OF HAMILTON OH 40727GAV4 1000000 PA USD 1234069.8 0.8006268196 Long DBT MUN US N 2 2037-12-01 Fixed 5 N N N N N N OHIO ST HSG FIN AGY RSDL MTGER 549300K10X7VPG6JVX38 Ohio Housing Finance Agency 67756QYR2 515000 PA USD 537366.4 0.3486269187 Long DBT MUN US N 2 2049-03-01 Fixed 4 N N N N N N OHIO ST UNIV JFC10ZULKO4X2E3HBY86 OHIO STATE UNIVERSITY/THE 677632A92 1000000 PA USD 1063540.9 0.6899928742 Long DBT MUN US N 2 2038-06-01 Fixed 5 N N N N N N ALLEN CNTY OH HOSP FACS REVENU N/A County of Allen OH Hospital Facilities Revenue 01757LDW3 1300000 PA USD 1300000 0.8434003211 Long DBT MUN US N 2 2034-06-01 Variable 0.02 N N N N N N OHIO ST TURNPIKE COMMISSION N/A Ohio Turnpike & Infrastructure Commission 67760HNJ6 2000000 PA USD 2582366.8 1.6753607602 Long DBT MUN US N 2 2046-02-15 Fixed 5 N N N N N N OHIO ST AIR QUALITY DEV AUTH E 549300DZUU80AYOR6M80 Ohio Air Quality Development Authority 67754AAF1 1200000 PA USD 1404168 0.9109813400 Long DBT MUN US Y 2 2049-07-01 Fixed 5 N N N N N N FRANKLIN CNTY OH CONVENTION FA N/A FRANKLIN COUNTY CONVENTION FACILITIES AUTHORITY 353174GR0 2000000 PA USD 2275870.2 1.4765151210 Long DBT MUN US N 2 2035-12-01 Fixed 5 N N N N N N OHIO ST 5493005LEB5E170OMX59 State of Ohio 677522G73 1000000 PA USD 1229806.4 0.7978608558 Long DBT MUN US N 2 2039-05-01 Fixed 5 N N N N N N OHIO ST 5493005LEB5E170OMX59 State of Ohio 6775227Q1 1475000 PA USD 1823251.63 1.1828700078 Long DBT MUN US N 2 2037-06-15 Fixed 4 N N N N N N CLEVELAND OH MUNI SCH DIST N/A CLEVELAND MUNICIPAL SCHOOL DISTRICT 186392EH5 1000000 PA USD 1065247.3 0.6910999345 Long DBT MUN US N 2 2033-12-01 Fixed 5 N N N N N N AMERICAN MUNI PWR-OHIO INC OH EARKGGZJJEMVD66XQ486 American Municipal Power Inc 02765URD8 750000 PA USD 979949.78 0.6357615070 Long DBT MUN US N 2 2034-02-15 Fixed 5 N N N N N N OHIO ST WTR DEV AUTH WTR POLLC N/A OHIO WATER DEVELOPMENT AUTHORITY WATER POLLUTION CONTROL LOAN FUND 67766WXW7 2000000 PA USD 2455390.2 1.5929822177 Long DBT MUN US N 2 2030-12-01 Fixed 5 N N N N N N TOLEDO OH WTRWKS REVENUE N/A City of Toledo OH Water System Revenue 889396SQ1 1000000 PA USD 1314226.1 0.8526297805 Long DBT MUN US N 2 2033-11-15 Fixed 5 N N N N N N OHIO ST WTR DEV AUTH REVENUE 549300QMBH1DMY67FZ74 OHIO WATER DEVELOPMENT AUTHORITY 67765QDA1 1000000 PA USD 1198435.8 0.7775085681 Long DBT MUN US N 2 2037-06-01 Fixed 5 N N N N N N NORTHEAST OH REGL SWR DIST N/A NORTHEAST OHIO REGIONAL SEWER DISTRICT 663903EC2 2000000 PA USD 2138369.6 1.3873089286 Long DBT MUN US N 2 2038-11-15 Fixed 5 N N N N N N JOBSOHIO BEVERAGE SYS STWD LIQ N/A JOBSOHIO BEVERAGE SYSTEM 47770VAK6 1555000 PA USD 1634749.42 1.0605755274 Long DBT MUN US N 2 2038-01-01 Fixed 5 N N N N N N CUYAHOGA OH CMNTY CLG DIST GEN N/A CUYAHOGA COMMUNITY COLLEGE DISTRICT 232393EA2 220000 PA USD 226752.55 0.1471101334 Long DBT MUN US N 2 2026-08-01 Fixed 5 N N N N N N RIVER VLY OH LOCAL SCH DIST N/A RIVER VALLEY LOCAL SCHOOL DISTRICT 768500BC3 470000 PA USD 511843.4 0.3320683753 Long DBT MUN US N 2 2023-11-01 Fixed 5.25 N N N N N N MONTGOMERY CNTY OH HOSP REVENU N/A County of Montgomery OH 613520NH4 1000000 PA USD 1160962.9 0.7531972943 Long DBT MUN US N 2 2051-08-01 Fixed 4 N N N N N N OHIO ST HGR EDUCTNL FAC COMMIS 5493007MQT6NGNN6BR81 Ohio Higher Educational Facility Commission 67756DSZ0 1000000 PA USD 1234802.4 0.8011021082 Long DBT MUN US N 2 2044-11-01 Fixed 5 N N N N N N FRANKLIN CNTY OH HOSP REVENUE 549300VCBUC1RZE7KL42 County of Franklin OH 3531865S4 1100000 PA USD 1100000 0.7136464255 Long DBT MUN US N 2 2040-11-01 Variable 0.03 N N N N N N AKRON OH INCOME TAX REVENUE N/A CITY OF AKRON OH 010056EB1 1000000 PA USD 1023804.5 0.6642131108 Long DBT MUN US N 2 2031-12-01 Fixed 5 N N N N N N PUERTO RICO SALES TAX FING COR N/A Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 74529JPX7 2000000 PA USD 2291114.6 1.4864052225 Long DBT MUN US N 2 2058-07-01 Fixed 5 N N N N N N UNIV OF AKRON OH N/A UNIVERSITY OF AKRON/THE 914023KL9 1020000 PA USD 1148622.2 0.7451910248 Long DBT MUN US N 2 2030-01-01 Fixed 5 N N N N N N OHIO ST UNIV JFC10ZULKO4X2E3HBY86 Ohio State University/The 677632N72 500000 PA USD 599576.35 0.3889868355 Long DBT MUN US N 2 2048-12-01 Fixed 4 N N N N N N CUYAHOGA CNTY OH COPS 549300GHDK9DGLUNJU89 COUNTY OF CUYAHOGA OH 23225PAU9 1000000 PA USD 1086339.6 0.7047839749 Long DBT MUN US N 2 2036-12-01 Fixed 5 N N N N N N FRANKLIN CNTY OH CONVENTION FA N/A Franklin County Convention Facilities Authority 35317DAM7 1000000 PA USD 1153924.8 0.7486311898 Long DBT MUN US N 2 2044-12-01 Fixed 5 N N N N N N KENT OH ST UNIV REVENUES 549300HL3HX54032AG28 Kent State University 490728F23 1000000 PA USD 1240863.5 0.8050343648 Long DBT MUN US N 2 2050-05-01 Fixed 5 N N N N N N OHIO ST 5493005LEB5E170OMX59 STATE OF OHIO 677522KJ2 3000000 PA USD 3499822.5 2.2705780155 Long DBT MUN US N 2 2030-02-01 Fixed 5 N N N N N N OHIO ST HGR EDUCTNL FAC COMMIS 5493007MQT6NGNN6BR81 Ohio Higher Educational Facility Commission 67756DXL5 1000000 PA USD 1155185.3 0.7494489638 Long DBT MUN US N 2 2050-12-01 Fixed 5 N N N N N N OHIO ST HGR EDUCTNL FAC COMMIS 5493007MQT6NGNN6BR81 OHIO HIGHER EDUCATIONAL FACILITY COMMISSION 67756DJY3 1000000 PA USD 1196829.7 0.7764665794 Long DBT MUN US N 2 2040-12-01 Fixed 5 N N N N N N MONTGOMERY CNTY OH HOSP REVENU N/A County of Montgomery OH 613520PB5 1000000 PA USD 1170475.8 0.7593689735 Long DBT MUN US N 2 2046-08-01 Fixed 4 N N N N N N FRANKLIN CNTY OH REVENUE 549300VCBUC1RZE7KL42 COUNTY OF FRANKLIN OH 353202FP4 2000000 PA USD 2431849 1.5777094057 Long DBT MUN US N 2 2047-12-01 Fixed 5 N N N N N N OHIO ST TURNPIKE COMMISSION N/A OHIO TURNPIKE & INFRASTRUCTURE COMMISSION 67760HCG4 1000000 PA USD 1063062 0.6896821785 Long DBT MUN US N 2 2024-02-15 Fixed 5.5 N N N N N N NORTHEAST OH REGL SWR DIST N/A NORTHEAST OHIO REGIONAL SEWER DISTRICT 663903FN7 1000000 PA USD 1136124 0.7370825741 Long DBT MUN US N 2 2049-11-15 Fixed 5 N N N N N N PUERTO RICO SALES TAX FING COR N/A Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 74529JPW9 1000000 PA USD 1130819.1 0.7336409169 Long DBT MUN US N 2 2053-07-01 Fixed 4.75 N N N N N N MIDDLEBURG HEIGHTS OH HOSP REV 549300YPL4J3W5PGVS22 City of Middleburg Heights OH 596126CX8 1000000 PA USD 1148783.8 0.7452958660 Long DBT MUN US N 2 2047-08-01 Fixed 4 N N N N N N CLEVELAND OH ST UNIV N/A CLEVELAND STATE UNIVERSITY 186406GP3 1500000 PA USD 1505216.25 0.9765383604 Long DBT MUN US N 2 2037-06-01 Fixed 5 N N N N N N AKRON BATH COPLEY JT TWP OH HO N/A AKRON BATH COPLEY JOINT TOWNSHIP HOSPITAL DISTRICT 009730NY4 1000000 PA USD 1182663.6 0.7672760461 Long DBT MUN US N 2 2041-11-15 Fixed 5.25 N N N N N N UNIV OF CINCINNATI OH RECPTS 549300E0RD3ICJ858L23 UNIVERSITY OF CINCINNATI 914119A93 1000000 PA USD 1117875.9 0.7252437638 Long DBT MUN US N 2 2041-06-01 Fixed 5 N N N N N N 2022-01-25 Federated Hermes Municipal Securities Income Trust Stephen Van Meter Federated Hermes Municipal Securities Income Trust Chief Compliance Officer XXXX NPORT-EX 2 poi_ohiomuniincfund.htm POI - FEDERATED HERMES OHIO MUNICIPAL INCOME FUND EDGAR HTML
Federated Hermes Ohio Municipal Income Fund
Portfolio of Investments
November 30, 2021 (unaudited) 
Principal
Amount
 
 
Value
 
 
MUNICIPAL BONDS—96.7%
 
 
 
Ohio—94.5%
 
$2,000,000
 
Akron, Bath & Copley, OH Joint Township Hospital District (Children's Hospital Medical Center, Akron), Hospital
Improvement & Refunding Revenue Bonds (Series 2012), 5.000%, 11/15/2032
$2,040,694
1,000,000
 
Akron, Bath & Copley, OH Joint Township Hospital District (Summa Health System), Hospital Facilities Revenue Bonds
(Series 2016), 5.250%, 11/15/2041
1,182,664
1,000,000
 
Akron, OH (Akron, OH Community Learning Centers), Income Tax Revenue Refunding Bonds (Series 2012A),
5.000%, 12/1/2031
1,023,804
2,000,000
 
Akron, OH (Akron, OH Community Learning Centers), Income Tax Revenue Refunding Bonds (Series 2012A),
5.000%, 12/1/2033
2,047,609
500,000
 
Akron, OH (Akron, OH Community Learning Centers), Revenue Refunding Bonds (Series A), 5.000%, 12/1/2023
511,902
1,000,000
 
Allen County, OH (Bon Secours Mercy Health), Hospital Facilities Revenue Refunding Bonds, 5.000%, 11/1/2043
1,120,072
1,000,000
 
American Municipal Power-Ohio, Inc. (American Municipal Power, Prairie State Energy Campus Project), Refunding
Revenue Bonds (Series 2015A), 5.000%, 2/15/2042
1,092,160
2,250,000
 
American Municipal Power-Ohio, Inc. (American Municipal Power, Prairie State Energy Campus Project), Revenue Bonds
(Series 2015A), 5.000%, 2/15/2029
2,456,324
1,000,000
 
American Municipal Power-Ohio, Inc. (AMP—Combined Hydroelectric Projects), Revenue Refunding Bonds (Series 2020A),
5.000%, 2/15/2029
1,265,298
750,000
 
American Municipal Power-Ohio, Inc. (AMP Fremont Energy), Revenue Refunding Bonds (Series 2021A),
5.000%, 2/15/2034
979,950
2,000,000
 
Bowling Green State University, OH, General Receipts Bonds (Series 2016A), 5.000%, 6/1/2044
2,309,705
3,000,000
 
Buckeye Tobacco Settlement Financing Authority, OH, Tobacco Settlement Asset-Backed Refunding Bonds
(Series 2020B-2 Class 2), 5.000%, 6/1/2055
3,442,226
2,000,000
 
Butler County, OH Hospital Facilities Authority (UC Health ), Revenue Bonds (Series 2016), 5.000%, 11/15/2045
2,369,404
3,000,000
 
Cincinnati, OH Water System, Revenue Bonds (Series 2015A), (United States Treasury PRF 12/1/2025@100),
5.000%, 12/1/2040
3,533,095
850,000
 
Cleveland Heights & University Heights, OH City School District, School Improvement UT GO Bonds (Series 2014),
(United States Treasury COL), 5.000%, 12/1/2051
909,831
1,255,000
 
Cleveland Heights & University Heights, OH City School District, School Improvement UT GO Bonds (Series 2014),
(United States Treasury PRF 6/1/2023@100), 5.000%, 12/1/2051
1,344,319
1,500,000
 
Cleveland State University, OH, General Receipts Bonds (Series 2012), 5.000%, 6/1/2037
1,505,216
250,000
 
Cleveland, OH (Cleveland, OH Water), Water Revenue Bonds (Series 2020FF), 5.000%, 1/1/2033
322,162
1,000,000
 
Cleveland, OH Income Tax (Cleveland, OH), Subordinate Lien Income Tax Public Facilities Improvements Refunding Bonds
(Series 2017B), 5.000%, 10/1/2030
1,241,280
1,000,000
 
Cleveland, OH Municipal School District, School Improvement UT GO Bonds (Series 2015A), (Ohio School District Credit
Enhancement GTD), 5.000%, 12/1/2033
1,065,247
500,000
 
Cleveland, OH, Various Purpose GO Bonds (Series 2019A), 4.000%, 12/1/2035
598,360
2,000,000
 
Columbus, OH City School District, School Facilities Construction & Improvement UT GO Bonds (Series 2017),
5.000%, 12/1/2047
2,347,687
1,000,000
 
Columbus, OH Sewer System, Revenue Refunding Bonds (Series 2014), 5.000%, 6/1/2031
1,131,201
2,270,000
 
Columbus, OH, UT GO Bonds (Series 2021A), 5.000%, 4/1/2039
2,967,646
1,500,000
 
Columbus, OH, Various Purpose LT GO Bonds (Series 2013B), (United States Treasury PRF 8/15/2023@100),
5.000%, 8/15/2028
1,620,940
1,270,000
 
Cuyahoga County, OH Hospital Authority (MetroHealth System), Hospital Revenue Bonds (Series 2017),
5.500%, 2/15/2057
1,513,276
1,340,000
 
Cuyahoga County, OH Sales Tax, Various Purpose Sales Tax Revenue Bonds (Series 2014), (United States Treasury
PRF 12/1/2024@100), 5.000%, 12/1/2034
1,524,833
1,000,000
 
Cuyahoga County, OH, Certificates of Participation Convention Hotel Project (Series 2014), 5.000%, 12/1/2036
1,086,340
220,000
 
Cuyahoga, OH Community College District, General Receipts Revenue Bonds (Series 2012D), 5.000%, 8/1/2026
226,753
2,000,000
 
Fairfield County, OH, LT GO Bonds (Series 2015), 4.000%, 12/1/2040
2,169,418
2,000,000
 
Franklin County, OH (Trinity Healthcare Credit Group), Revenue Bonds (Series 2017A), 5.000%, 12/1/2047
2,431,849
1,000,000
 
Franklin County, OH Convention Facilities Authority (Greater Columbus Convention Center Hotel), Hotel Project Revenue
Bonds (Series 2019), 5.000%, 12/1/2044
1,153,925
1
Principal
Amount
 
 
Value
 
 
MUNICIPAL BONDS—continued
 
 
 
Ohio—continued
 
$2,000,000
 
Franklin County, OH Convention Facilities Authority, Tax & Lease Revenue Anticipation & Refunding Bonds (Series 2014),
(United States Treasury PRF 12/1/2024@100), 5.000%, 12/1/2035
$2,275,870
1,000,000
 
Franklin County, OH Health Care Facilities (Friendship Village of Dublin, OH, Inc.), Refunding & Improvement Bonds
(Series 2014), 5.000%, 11/15/2044
1,086,193
1,000,000
 
Franklin County, OH Hospital Facility Authority (Nationwide Children's Hospital), Hospital Improvement Revenue Bonds
(Series 2017A), 5.000%, 11/1/2029
1,232,434
1,000,000
 
Franklin County, OH Hospital Facility Authority (OhioHealth Corp,), Hospital Facilities Revenue Bonds (Series 2015),
5.000%, 5/15/2040
1,138,500
3,015,000
 
Franklin County, OH Sales Tax Revenue, Various Purpose Sales Tax Revenue Bonds (Series 2018), 5.000%, 6/1/2048
3,692,518
2,000,000
 
Hamilton County, OH (Cincinnati Children's Hospital Medical Center), Hospital Facilities Revenue Bonds (Series 2019CC),
5.000%, 11/15/2041
2,954,809
500,000
 
Hamilton County, OH (Life Enriching Communities), Healthcare Improvement and Refunding Revenue Bonds (Series 2016),
5.000%, 1/1/2036
551,465
500,000
 
Hamilton County, OH (Life Enriching Communities), Healthcare Improvement and Refunding Revenue Bonds (Series 2016),
5.000%, 1/1/2051
543,738
2,000,000
 
Hamilton County, OH Convention Facilities Authority, Convention Facilities Authority Revenue & Refunding Bonds
(Series 2014), 5.000%, 12/1/2032
2,152,249
2,850,000
 
Hamilton County, OH Sales Tax, Revenue Refunding Bonds (Series 2011A), 5.000%, 12/1/2032
2,850,000
1,075,000
 
Hamilton County, OH, LT GO Improvement and Refunding Bonds (Series 2017A), 5.000%, 12/1/2033
1,327,107
1,000,000
 
Hamilton County, OH, LT GO Refunding Bonds (Series 2017A), 5.000%, 12/1/2037
1,234,070
1,555,000
 
JobsOhio Beverage System, OH, Statewide Senior Lien Liquor Profits Tax-Exempt Revenue Bonds (Series 2013A),
(United States Treasury PRF 1/1/2023@100), 5.000%, 1/1/2038
1,634,749
1,000,000
 
Kent State University, OH, General Receipts Bonds (Series 2020A), 5.000%, 5/1/2050
1,240,863
1,000,000
 
Miami County, OH Hospital Facility (Kettering Health Network Obligated Group), Hospital Facilities Revenue Refunding
and Improvement Bonds (Series 2019), 5.000%, 8/1/2049
1,219,249
1,000,000
 
Middleburg Heights, OH (Southwest General Health Center), Hospital Facilities Improvement and Revenue Redunding
Bonds (Series 2020A), 4.000%, 8/1/2047
1,148,784
1,000,000
 
Montgomery County, OH (Dayton Children's Hospital), Hospital Facilities Revenue Bonds (Series 2021), 4.000%, 8/1/2046
1,170,476
1,000,000
 
Montgomery County, OH Hospital Authority (Kettering Health Network Obligated Group), Hospital Facilities Improvement
and Refunding Revenue Bonds (Series 2021), 4.000%, 8/1/2051
1,160,963
1,000,000
 
Northeast OH Regional Sewer District, Wastewater Improvement Revenue & Refunding Bonds (Series 2014),
(United States Treasury PRF 11/15/2024@100), 5.000%, 11/15/2049
1,136,124
2,000,000
 
Northeast OH Regional Sewer District, Wastewater Improvement Revenue Bonds (Series 2013), (United States Treasury
PRF 5/15/2023@100), 5.000%, 11/15/2038
2,138,370
1,200,000
1
Ohio Air Quality Development Authority (AMG Vanadium LLC), Exempt Facilities Revenue Bonds (Series 2019),
5.000%, 7/1/2049
1,404,168
500,000
 
Ohio Air Quality Development Authority (Pratt Paper, LLC), Exempt Facilities Revenue Bonds (Series 2017),
4.250%, 1/15/2038
570,984
500,000
 
Ohio Air Quality Development Authority (Pratt Paper, LLC), Exempt Facilities Revenue Bonds (Series 2017),
4.500%, 1/15/2048
578,199
515,000
 
Ohio HFA, Residential Mortgage Revenue Bonds (Series 2019A), (GNMA Collateralized Home Mortgage Program COL),
4.000%, 3/1/2049
537,366
1,000,000
 
Ohio State (Judson Obligated Group), Healthcare Facility Revenue Bonds (Series 2020A), 5.000%, 12/1/2050
1,155,185
1,000,000
 
Ohio State Air Quality Development Authority (American Electric Power Co., Inc.), Air Quality Revenue Bonds
(Series 2007B) TOBs, 2.500%, Mandatory Tender 10/1/2029
1,096,777
1,000,000
 
Ohio State Higher Educational Facility Commission (Case Western Reserve University, OH), Revenue Refunding Bonds
(Series 2016), 5.000%, 12/1/2040
1,196,830
1,500,000
 
Ohio State Higher Educational Facility Commission (Cleveland Clinic), Revenue Bonds (Series 2019B), 4.000%, 1/1/2042
1,741,022
1,000,000
 
Ohio State Higher Educational Facility Commission (Denison University), Revenue Bonds (Series 2019), 5.000%, 11/1/2044
1,234,802
2,000,000
 
Ohio State Higher Educational Facility Commission (Kenyon College, OH), Higher Educational Facility Revenue Bonds
(Series 2015), 5.000%, 7/1/2041
2,276,301
1,830,000
 
Ohio State Higher Educational Facility Commission (University of Dayton), Revenue Bonds (Series 2013),
5.000%, 12/1/2031
1,912,258
345,000
 
Ohio State Higher Educational Facility Commission (Xavier University), Higher Educational Facility Revenue Bonds
(Series 2020), 4.000%, 5/1/2037
405,405
1,025,000
 
Ohio State Higher Educational Facility Commission (Xavier University), Higher Educational Facility Revenue Bonds
(Series 2020), 4.000%, 5/1/2039
1,199,980
2
Principal
Amount
 
 
Value
 
 
MUNICIPAL BONDS—continued
 
 
 
Ohio—continued
 
$2,000,000
 
Ohio State Hospital Revenue (University Hospitals Health System, Inc.), Hospital Revenue Bonds (Series 2016A),
5.000%, 1/15/2046
$2,300,499
3,325,000
 
Ohio State Treasurer (Portsmouth Gateway Group LLC), Private Activity Revenue Bonds (Series 2015), 5.000%, 12/31/2039
3,699,173
350,000
 
Ohio State Turnpike & Infrastructure Commission, Revenue Refunding Bonds (Series 2017A), 5.000%, 2/15/2028
424,827
2,000,000
 
Ohio State Turnpike & Infrastructure Commission, Senior Lien Revenue Bonds (Series 2021A), 5.000%, 2/15/2046
2,582,367
1,000,000
 
Ohio State Turnpike & Infrastructure Commission, Turnpike Junior Lien Revenue Bonds (Series 2013A-1), (Original Issue
Yield: 5.050%), (United States Treasury PRF 2/15/2023@100), 5.000%, 2/15/2048
1,056,974
1,000,000
 
Ohio State Turnpike & Infrastructure Commission, Turnpike Revenue Refunding Bonds (Series 1998A),
(National Re Holdings Corp. INS), 5.500%, 2/15/2024
1,063,062
500,000
 
Ohio State University, General Receipts Bonds (Series 2021A), 4.000%, 12/1/2048
599,576
1,000,000
 
Ohio State University, Special Purpose General Receipts Bonds (Series 2013A), 5.000%, 6/1/2038
1,063,541
2,000,000
 
Ohio State Water Development Authority Pollution Control Facilities (Ohio State Water Development Authority), Loan
Fund Revenue Bonds (Series 2017A), 5.000%, 12/1/2030
2,455,390
1,000,000
 
Ohio State Water Development Authority, Water Development Revenue Bonds (Fresh Water Series 2016B),
5.000%, 6/1/2037
1,198,436
1,000,000
 
Ohio State, Capital Facilities Lease Appropriation Bonds Adult Correctional Building Fund Project (Series 2019B),
5.000%, 10/1/2032
1,375,192
2,000,000
 
Ohio State, Capital Facilities Lease Appropriation Bonds Parks and Recreation Improvement Fund Projects (Series 2016C),
5.000%, 12/1/2031
2,390,388
3,000,000
 
Ohio State, Capital Facilities Lease-Appropriation Bonds (Series 2016A), 5.000%, 2/1/2030
3,499,822
750,000
 
Ohio State, Capital Facilities Lease-Appropriation Bonds Adult Correctional Building Fund (Series 2017A),
5.000%, 10/1/2034
915,687
1,460,000
 
Ohio State, Capital Facilities Lease-Appropriation Bonds Adult Correctional Building Fund (Series 2017A),
5.000%, 10/1/2035
1,780,763
1,475,000
 
Ohio State, Common Schools UT GO Bonds (Series 2021A), 4.000%, 6/15/2037
1,823,252
3,000,000
 
Ohio State, Higher Education UT GO Bonds (Series 2015C), 5.000%, 11/1/2033
3,445,305
1,000,000
 
Ohio State, Higher Education UT GO Bonds (Series 2019A), (United States Treasury PRF 5/1/2027@100), 5.000%, 5/1/2039
1,229,806
3,000,000
 
Ohio State, Higher Education UT GO Bonds (Series 2019A), 5.000%, 5/1/2035
3,641,058
1,500,000
 
Olentangy, OH Local School District, UT GO Refunding Bonds (Series 2016), 5.000%, 12/1/2030
1,758,089
470,000
 
River Valley, OH Local School District, UT GO School Facilities Bonds, (School District Credit Program GTD),
5.250%, 11/1/2023
511,843
500,000
 
Switzerland, OH Local School District, UT GO School Improvement Refunding Bonds, (United States Treasury
PRF 6/1/2023@100), 5.000%, 12/1/2027
535,195
1,000,000
 
Toledo, OH Water System, Revenue Bonds (Series 2020), 5.000%, 11/15/2033
1,314,226
1,000,000
 
Toledo, OH Water System, Revenue Improvement and Refunding Bonds (Series 2013), 5.000%, 11/15/2032
1,064,586
1,500,000
 
Toledo-Lucas County, OH Port Authority (CSX Corp.), Revenue Bonds, 6.450%, 12/15/2021
1,503,255
1,020,000
 
University of Akron, OH, General Receipts Bonds (Series 2015A), 5.000%, 1/1/2030
1,148,622
1,000,000
 
University of Akron, OH, General Receipts Bonds (Series 2016A), 5.000%, 1/1/2036
1,180,503
1,000,000
 
University of Cincinnati, OH, General Receipts Bonds (Series 2014C), 5.000%, 6/1/2041
1,117,876
1,000,000
 
University of Cincinnati, OH, General Receipts Bonds (Series 2019A), 4.000%, 6/1/2038
1,194,651
 
 
TOTAL
145,606,962
 
 
Puerto Rico—2.2%
 
2,000,000
 
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A), (Original Issue Yield: 5.154%),
5.000%, 7/1/2058
2,291,115
1,000,000
 
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A-1), 4.750%, 7/1/2053
1,130,819
 
 
TOTAL
3,421,934
 
 
TOTAL MUNICIPAL BONDS
(IDENTIFIED COST $140,487,168)
149,028,896
 
2
SHORT-TERM MUNICIPALS—1.9%
 
 
 
Ohio—1.9%
 
1,300,000
 
Allen County, OH (Bon Secours Mercy Health), (Series 2010C) Daily VRDNs, (BMO Harris Bank, N.A. LOC),
0.020%, 12/1/2021
1,300,000
1,100,000
 
Franklin County, OH Hospital Facility Authority (Nationwide Children's Hospital), (Series 2008B) Weekly VRDNs,
0.030%, 12/2/2021
1,100,000
3
Principal
Amount
 
 
Value
 
2
SHORT-TERM MUNICIPALS—continued
 
 
 
Ohio—continued
 
$480,000
 
Ohio State Higher Educational Facility Commission (Cleveland Clinic), (Series 2008 B-4) Daily VRDNs, (Barclays Bank PLC
LIQ), 0.040%, 12/1/2021
$480,000
 
 
TOTAL SHORT-TERM MUNICIPALS
(IDENTIFIED COST $2,880,000)
2,880,000
 
 
TOTAL INVESTMENT IN SECURITIES—98.6%
(IDENTIFIED COST $143,367,168)
151,908,896
 
 
OTHER ASSETS AND LIABILITIES - NET—1.4%3
2,223,965
 
 
TOTAL NET ASSETS—100%
$154,132,861
Securities that are subject to the federal alternative minimum tax (AMT) represent 4.1% of the Fund's portfolio as calculated based upon total market value.
The average notional value of short futures contracts held by the Fund throughout the period was $1,811,367. This is based on amounts held as of each month-end throughout the three-month fiscal period.
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 November 30, 2021, these restricted securities amounted to $1,404,168, which represented 0.9% of total net assets.
Additional information on restricted securities held at November 30, 2021, is as follows: 
Security
Acquisition
Date
Acquisition
Cost
Market
Value
Ohio Air Quality Development Authority (AMG Vanadium LLC), Exempt Facilities Revenue Bonds (Series 2019),
5.000%, 7/1/2049
06/27/2019
$1,255,435
$1,404,168
2
Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.
3
Assets, other than investments in securities, less liabilities.
Note: The categories of investments are shown as a percentage of total net assets at November 30, 2021.
Investment Valuation
In calculating its net asset value (NAV), the Fund generally values investments as follows:
■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by the Fund’s Board of Trustees (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.
■ 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.
■ 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 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 Investment Management Company (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
4
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 November 30, 2021, all investments of the Fund utilized Level 2 inputs in valuing the Fund's assets carried at fair value.
The following acronyms are used throughout this portfolio: 
COL
—Collateralized
GNMA
—Government National Mortgage Association
GO
—General Obligation
GTD
—Guaranteed
HFA
—Housing Finance Authority
INS
—Insured
LIQ
—Liquidity Agreement
LOC
—Letter of Credit
LT
—Limited Tax
PRF
—Pre-refunded
TOBs
—Tender Option Bonds
UT
—Unlimited Tax
VRDNs
—Variable Rate Demand Notes
5