0001145549-22-043919.txt : 20220726 0001145549-22-043919.hdr.sgml : 20220726 20220726120522 ACCESSION NUMBER: 0001145549-22-043919 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220531 FILED AS OF DATE: 20220726 DATE AS OF CHANGE: 20220726 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: 221105783 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 2022-05-31 N 133976518.340000000000 2133119.600000000000 131843398.740000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 1219848.000000000000 0.000000000000 0.000000000000 16787.380000000000 USD N FRANKLIN CNTY OH HOSP FACS REV 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Fixed 4 N N N N N N CLEVELAND OH WTR REVENUE N/A Cleveland Department of Public Utilities Division of Water 186427GL8 250000 PA USD 289034.08 0.2192252951 Long DBT MUN US N 2 2033-01-01 Fixed 5 N N N N N N AKRON OH INCOME TAX REVENUE N/A CITY OF AKRON OH 010056ED7 2000000 PA USD 2000000 1.5169511854 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 2637198.38 2.0002506043 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 1023928.2 0.7766245484 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 1101272.8 0.8352885397 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 2079050 1.5769086810 Long DBT MUN US N 2 2041-07-01 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549300IQSLQPCVVMKJ96 CLEVELAND OH-A 4 12/35 186343U80 500000 PA USD 523417.3 0.3969992468 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 2092024.2 1.5867492950 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 1026416 0.7785114839 Long DBT MUN US N 2 2044-11-15 Fixed 5 N N N N N N OHIO ST AIR QUALITY DEV AUTH E 549300DZUU80AYOR6M80 OHIO AIR QUALITY DEVELOPMENT AUTHORITY 67754AAD6 500000 PA USD 497156.85 0.3770813365 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 67756DBD7 1950000 PA USD 1950000 1.4790274057 Long DBT MUN US N 2 2039-01-01 Variable 0.67 N N N N N N OHIO ST ADULT CORRECTIONAL CAP 5493005LEB5E170OMX59 State of Ohio 677524DR8 1000000 PA USD 1199167.6 0.9095393561 Long DBT MUN US N 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500000 PA USD 516712 0.3919134404 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 1117922 0.8479165515 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 475000 PA USD 479184.61 0.3634498311 Long DBT MUN US N 2 2049-03-01 Fixed 4 N N N N N N ALLEN CNTY OH HOSP FACS REVENU N/A County of Allen OH Hospital Facilities Revenue 01757LDW3 2400000 PA USD 2400000 1.8203414224 Long DBT MUN US N 2 2034-06-01 Variable 0.7 N N N N N N OHIO ST TURNPIKE COMMISSION N/A Ohio Turnpike & Infrastructure Commission 67760HNJ6 2000000 PA USD 2272986.2 1.7240045552 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 1217798.64 0.9236705452 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 2148270 1.6294103615 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 1133384.3 0.8596443287 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 1583983.92 1.2014131425 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 1029094 0.7805426816 Long DBT MUN US N 2 2033-12-01 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 2241301 1.6999721043 Long DBT MUN US N 2 2030-12-01 Fixed 5 N N N N N N AMERICAN MUNI PWR-OHIO INC OH EARKGGZJJEMVD66XQ486 American Municipal Power Inc 02765URD8 750000 PA USD 858388.73 0.6510669007 Long DBT MUN US N 2 2034-02-15 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 1169901.2 0.8873415060 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 1099033.5 0.8335900853 Long DBT MUN US N 2 2037-06-01 Fixed 5 N N N N N N CUYAHOGA OH CMNTY CLG DIST GEN N/A CUYAHOGA COMMUNITY COLLEGE DISTRICT 232393EA2 220000 PA USD 221371.48 0.1679048645 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 491346.18 0.3726740851 Long DBT MUN US N 2 2023-11-01 Fixed 5.25 N N N N N N OHIO ST HGR EDUCTNL FAC COMMIS 5493007MQT6NGNN6BR81 Ohio Higher Educational Facility Commission 67756DSZ0 1000000 PA USD 1112336.7 0.8436802378 Long DBT MUN US N 2 2044-11-01 Fixed 5 N N N N N N MONTGOMERY CNTY OH HOSP REVENU N/A County of Montgomery OH 613520NH4 1000000 PA USD 995883.2 0.7553531004 Long DBT MUN US N 2 2051-08-01 Fixed 4 N N N N N N FRANKLIN CNTY OH HOSP REVENUE 549300VCBUC1RZE7KL42 County of Franklin OH 3531865S4 100000 PA USD 100000 0.0758475593 Long DBT MUN US N 2 2040-11-01 Variable 0.72 N N N N N N AKRON OH INCOME TAX REVENUE N/A CITY OF AKRON OH 010056EB1 1000000 PA USD 1000000 0.7584755927 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 1000000 PA USD 1016715.6 0.7711539673 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 1084279.38 0.8223994454 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 510883.05 0.3874923241 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 1036960.2 0.7865090023 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 1025953.4 0.7781606131 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 1120387.5 0.8497865731 Long DBT MUN US N 2 2050-05-01 Fixed 5 N N N N N N ALLEN CNTY OH HOSP FACS REVENU N/A County of Allen OH Hospital Facilities Revenue 01757LGF7 900000 PA USD 903396.96 0.6852045447 Long DBT MUN US N 2 2047-08-01 Fixed 4 N N N N N N OHIO ST 5493005LEB5E170OMX59 STATE OF OHIO 677522KJ2 3000000 PA USD 3271005.6 2.4809779111 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 1027162.7 0.7790778377 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 1080952.2 0.8198758606 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 992179.6 0.7525440102 Long DBT MUN US N 2 2046-08-01 Fixed 4 N N N N N N OHIO ST TURNPIKE COMMISSION N/A OHIO TURNPIKE & INFRASTRUCTURE COMMISSION 67760HCG4 685000 PA USD 714732.22 0.5421069442 Long DBT MUN US N 2 2024-02-15 Fixed 5.5 N N N N N N FRANKLIN CNTY OH REVENUE 549300VCBUC1RZE7KL42 COUNTY OF FRANKLIN OH 353202FP4 2000000 PA USD 2123763.8 1.6108230069 Long DBT MUN US N 2 2047-12-01 Fixed 5 N N N N N N NORTHEAST OH REGL SWR DIST N/A NORTHEAST OHIO REGIONAL SEWER DISTRICT 663903FN7 1000000 PA USD 1073071.6 0.8138986178 Long DBT MUN US N 2 2049-11-15 Fixed 5 N N N N N N MIDDLEBURG HEIGHTS OH HOSP REV 549300YPL4J3W5PGVS22 City of Middleburg Heights OH 596126CX8 1000000 PA USD 985248 0.7472865607 Long DBT MUN US N 2 2047-08-01 Fixed 4 N N N N N N UNIV OF CINCINNATI OH RECPTS 549300E0RD3ICJ858L23 UNIVERSITY OF CINCINNATI 914119A93 1000000 PA USD 1045706.1 0.7931425540 Long DBT MUN US N 2 2041-06-01 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 1060918 0.8046804088 Long DBT MUN US N 2 2041-11-15 Fixed 5.25 N N N N N N 2022-07-26 Federated Hermes Municipal Securities Income Trust Stephen Van Meter Federated Hermes Municipal Securities Income Trust Chief Compliance Officer XXXX NPORT-EX 2 poi_fhohiomuniincomefd.htm POI - FEDERATED HERMES OHIO MUNICIPAL INCOME FUND EDGAR HTML
Federated Hermes Ohio Municipal Income Fund
Portfolio of Investments
May 31, 2022 (unaudited) 
Principal
Amount
 
 
Value
 
 
MUNICIPAL BONDS—96.8%
 
 
 
Ohio—95.8%
 
$1,000,000
 
Akron, Bath & Copley, OH Joint Township Hospital District (Children's Hospital Medical Center, Akron),
Hospital Refunding Revenue Bonds (Series 2002A), (Original Issue Yield: 4.120%), 4.000%, 11/15/2042
$1,009,110
325,000
 
Akron, Bath & Copley, OH Joint Township Hospital District (Children's Hospital Medical Center, Akron),
Hospital Refunding Revenue Bonds (Series 2002A), 5.000%, 11/15/2038
360,394
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
1,060,918
1,000,000
 
Akron, OH (Akron, OH Community Learning Centers), Income Tax Revenue Refunding Bonds (Series 2012A),
(United States Treasury PRF 6/30/2022@100), 5.000%, 12/1/2031
1,000,000
2,000,000
 
Akron, OH (Akron, OH Community Learning Centers), Income Tax Revenue Refunding Bonds (Series 2012A),
(United States Treasury PRF 6/30/2022@100), 5.000%, 12/1/2033
2,000,000
500,000
 
Akron, OH (Akron, OH Community Learning Centers), Revenue Refunding Bonds (Series A), (United States Treasury PRF
6/30/2022@100), 5.000%, 12/1/2023
500,000
900,000
 
Allen County, OH (Bon Secours Mercy Health), Hospital Facilities Revenue Refunding Bonds, 4.000%, 8/1/2047
903,397
1,000,000
 
Allen County, OH (Bon Secours Mercy Health), Hospital Facilities Revenue Refunding Bonds, 5.000%, 11/1/2043
1,027,141
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
1,030,016
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
2,343,026
1,000,000
 
American Municipal Power-Ohio, Inc. (AMP—Combined Hydroelectric Projects), Revenue Refunding Bonds (Series 2020A),
5.000%, 2/15/2029
1,142,519
750,000
 
American Municipal Power-Ohio, Inc. (AMP Fremont Energy), Revenue Refunding Bonds (Series 2021A),
5.000%, 2/15/2034
858,389
2,000,000
 
Bowling Green State University, OH, General Receipts Bonds (Series 2016A), 5.000%, 6/1/2044
2,116,255
1,000,000
 
Buckeye Tobacco Settlement Financing Authority, OH, Tobacco Settlement Asset-Backed Refunding Bonds
(Series 2020B-2 Class 2), 5.000%, 6/1/2055
1,015,136
2,000,000
 
Butler County, OH Hospital Facilities Authority (UC Health ), Revenue Bonds (Series 2016), 5.000%, 11/15/2045
2,092,024
3,000,000
 
Cincinnati, OH Water System, Revenue Bonds (Series 2015A), (United States Treasury PRF 12/1/2025@100),
5.000%, 12/1/2040
3,298,386
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
878,840
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
1,297,581
250,000
 
Cleveland, OH (Cleveland, OH Water), Water Revenue Bonds (Series 2020FF), 5.000%, 1/1/2033
289,034
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
1,133,756
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
1,029,094
500,000
 
Cleveland, OH, Various Purpose GO Bonds (Series 2019A), 4.000%, 12/1/2035
523,417
2,000,000
 
Columbus, OH City School District, School Facilities Construction & Improvement UT GO Bonds (Series 2017),
5.000%, 12/1/2047
2,179,456
1,000,000
 
Columbus, OH Sewer System, Revenue Refunding Bonds (Series 2014), 5.000%, 6/1/2031
1,068,323
2,270,000
 
Columbus, OH, UT GO Bonds (Series 2021A), 5.000%, 4/1/2039
2,637,198
250,000
 
Columbus, OH, UT GO Various Purpose Bonds (Series 2022A), 5.000%, 4/1/2038
297,376
1,270,000
 
Cuyahoga County, OH Hospital Authority (MetroHealth System), Hospital Revenue Bonds (Series 2017),
5.500%, 2/15/2057
1,386,280
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
1,439,341
1,000,000
 
Cuyahoga County, OH, Certificates of Participation Convention Hotel Project (Series 2014), 5.000%, 12/1/2036
1,036,960
220,000
 
Cuyahoga, OH Community College District, General Receipts Revenue Bonds (Series 2012D), (United States Treasury PRF
8/1/2022@100), 5.000%, 8/1/2026
221,371
2,000,000
 
Fairfield County, OH, LT GO Bonds (Series 2015), 4.000%, 12/1/2040
2,029,429
1,000,000
 
Franklin County, OH (Trinity Healthcare Credit Group), Revenue Bonds (Series 2017), 4.000%, 12/1/2046
1,004,917
1
Principal
Amount
 
 
Value
 
 
MUNICIPAL BONDS—continued
 
 
 
Ohio—continued
 
$2,000,000
 
Franklin County, OH (Trinity Healthcare Credit Group), Revenue Bonds (Series 2017A), 5.000%, 12/1/2047
$2,123,764
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
1,025,953
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
2,148,270
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
1,026,416
1,000,000
 
Franklin County, OH Hospital Facility Authority (Nationwide Children's Hospital), Hospital Improvement Revenue Bonds
(Series 2017A), 5.000%, 11/1/2029
1,101,273
1,000,000
 
Franklin County, OH Hospital Facility Authority (OhioHealth Corp,), Hospital Facilities Revenue Bonds (Series 2015),
5.000%, 5/15/2040
1,047,137
3,015,000
 
Franklin County, OH Sales Tax Revenue, Various Purpose Sales Tax Revenue Bonds (Series 2018), 5.000%, 6/1/2048
3,332,260
2,000,000
 
Hamilton County, OH (Cincinnati Children's Hospital Medical Center), Hospital Facilities Revenue Bonds (Series 2019CC),
5.000%, 11/15/2041
2,370,219
500,000
 
Hamilton County, OH (Life Enriching Communities), Healthcare Improvement and Refunding Revenue Bonds (Series 2016),
5.000%, 1/1/2036
506,185
500,000
 
Hamilton County, OH (Life Enriching Communities), Healthcare Improvement and Refunding Revenue Bonds (Series 2016),
5.000%, 1/1/2051
502,092
2,000,000
 
Hamilton County, OH Convention Facilities Authority, Convention Facilities Authority Revenue & Refunding Bonds
(Series 2014), 5.000%, 12/1/2032
2,071,441
1,075,000
 
Hamilton County, OH, LT GO Improvement and Refunding Bonds (Series 2017A), 5.000%, 12/1/2033
1,202,932
1,000,000
 
Hamilton County, OH, LT GO Refunding Bonds (Series 2017A), 5.000%, 12/1/2037
1,117,922
1,000,000
 
Kent State University, OH, General Receipts Bonds (Series 2020A), 5.000%, 5/1/2050
1,120,387
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
1,066,006
1,000,000
 
Middleburg Heights, OH (Southwest General Health Center), Hospital Facilities Improvement and Revenue Refunding
Bonds (Series 2020A), 4.000%, 8/1/2047
985,248
1,000,000
 
Montgomery County, OH (Dayton Children's Hospital), Hospital Facilities Revenue Bonds (Series 2021), 4.000%, 8/1/2046
992,180
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
995,883
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
1,073,072
1,200,000
1
Ohio Air Quality Development Authority (AMG Vanadium LLC), Exempt Facilities Revenue Bonds (Series 2019),
5.000%, 7/1/2049
1,217,799
500,000
 
Ohio Air Quality Development Authority (Pratt Paper, LLC), Exempt Facilities Revenue Bonds (Series 2017),
4.250%, 1/15/2038
497,157
500,000
 
Ohio Air Quality Development Authority (Pratt Paper, LLC), Exempt Facilities Revenue Bonds (Series 2017),
4.500%, 1/15/2048
500,962
475,000
 
Ohio HFA, Residential Mortgage Revenue Bonds (Series 2019A), (GNMA Collateralized Home Mortgage Program COL),
4.000%, 3/1/2049
479,185
1,000,000
 
Ohio State (Judson Obligated Group), Healthcare Facility Revenue Bonds (Series 2020A), 5.000%, 12/1/2050
1,027,163
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
922,597
200,000
 
Ohio State Higher Educational Facility Commission (Ashtabula County Medical Center), Healthcare Facility Revenue Bonds
(Series 2022), 5.250%, 1/1/2052
216,634
1,000,000
 
Ohio State Higher Educational Facility Commission (Case Western Reserve University, OH), Revenue Refunding Bonds
(Series 2016), 5.000%, 12/1/2040
1,080,952
1,500,000
 
Ohio State Higher Educational Facility Commission (Cleveland Clinic), Revenue Bonds (Series 2019B), 4.000%, 1/1/2042
1,492,187
1,000,000
 
Ohio State Higher Educational Facility Commission (Denison University), Revenue Bonds (Series 2019), 5.000%, 11/1/2044
1,112,337
2,000,000
 
Ohio State Higher Educational Facility Commission (Kenyon College, OH), Higher Educational Facility Revenue Bonds
(Series 2015), 5.000%, 7/1/2041
2,079,050
1,830,000
 
Ohio State Higher Educational Facility Commission (University of Dayton), Revenue Bonds (Series 2013),
5.000%, 12/1/2031
1,849,998
345,000
 
Ohio State Higher Educational Facility Commission (Xavier University), Higher Educational Facility Revenue Bonds
(Series 2020), 4.000%, 5/1/2037
348,309
1,025,000
 
Ohio State Higher Educational Facility Commission (Xavier University), Higher Educational Facility Revenue Bonds
(Series 2020), 4.000%, 5/1/2039
1,031,326
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
$2,070,041
3,325,000
 
Ohio State Treasurer (Portsmouth Gateway Group LLC), Private Activity Revenue Bonds (Series 2015), 5.000%, 12/31/2039
3,474,645
350,000
 
Ohio State Turnpike & Infrastructure Commission, Revenue Refunding Bonds (Series 2017A), 5.000%, 2/15/2028
392,161
2,000,000
 
Ohio State Turnpike & Infrastructure Commission, Senior Lien Revenue Bonds (Series 2021A), 5.000%, 2/15/2046
2,272,986
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
1,022,856
685,000
 
Ohio State Turnpike & Infrastructure Commission, Turnpike Revenue Refunding Bonds (Series 1998A),
(National Re Holdings Corp. INS), 5.500%, 2/15/2024
714,732
500,000
 
Ohio State University, General Receipts Bonds (Series 2021A), 4.000%, 12/1/2048
510,883
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
2,241,301
1,000,000
 
Ohio State Water Development Authority, Water Development Revenue Bonds (Fresh Water Series 2016B),
5.000%, 6/1/2037
1,099,033
1,680,000
 
Ohio State Water Development Authority, Water Pollution Control Loan Fund Revenue Bonds (Series 2021A),
4.000%, 12/1/2041
1,761,062
1,000,000
 
Ohio State, Capital Facilities Lease Appropriation Bonds Adult Correctional Building Fund Project (Series 2019B),
5.000%, 10/1/2032
1,199,168
2,000,000
 
Ohio State, Capital Facilities Lease Appropriation Bonds Parks and Recreation Improvement Fund Projects (Series 2016C),
5.000%, 12/1/2031
2,205,206
3,000,000
 
Ohio State, Capital Facilities Lease-Appropriation Bonds (Series 2016A), 5.000%, 2/1/2030
3,271,006
750,000
 
Ohio State, Capital Facilities Lease-Appropriation Bonds Adult Correctional Building Fund (Series 2017A),
5.000%, 10/1/2034
835,876
1,460,000
 
Ohio State, Capital Facilities Lease-Appropriation Bonds Adult Correctional Building Fund (Series 2017A),
5.000%, 10/1/2035
1,625,636
1,475,000
 
Ohio State, Common Schools UT GO Bonds (Series 2021A), 4.000%, 6/15/2037
1,583,984
3,000,000
 
Ohio State, Higher Education UT GO Bonds (Series 2015C), 5.000%, 11/1/2033
3,207,584
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
1,133,384
3,000,000
 
Ohio State, Higher Education UT GO Bonds (Series 2019A), 5.000%, 5/1/2035
3,330,570
1,050,000
 
Ohio State, Highway Capital Improvement GO Bonds (Series 2022), 5.000%, 5/1/2036
1,264,872
1,500,000
 
Olentangy, OH Local School District, UT GO Refunding Bonds (Series 2016), 5.000%, 12/1/2030
1,638,044
470,000
 
River Valley, OH Local School District, UT GO School Facilities Bonds, (School District Credit Program GTD),
5.250%, 11/1/2023
491,346
1,135,000
 
Shaker Heights, OH, UT GO Bonds, 4.000%, 12/1/2052
1,172,182
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
516,712
1,000,000
 
Toledo, OH Water System, Revenue Bonds (Series 2020), 5.000%, 11/15/2033
1,169,901
1,000,000
 
Toledo, OH Water System, Revenue Improvement and Refunding Bonds (Series 2013), 5.000%, 11/15/2032
1,023,928
1,020,000
 
University of Akron, OH, General Receipts Bonds (Series 2015A), 5.000%, 1/1/2030
1,084,279
1,000,000
 
University of Akron, OH, General Receipts Bonds (Series 2016A), 5.000%, 1/1/2036
1,080,141
1,000,000
 
University of Cincinnati, OH, General Receipts Bonds (Series 2014C), 5.000%, 6/1/2041
1,045,706
1,000,000
 
University of Cincinnati, OH, General Receipts Bonds (Series 2019A), 4.000%, 6/1/2038
1,033,864
760,000
 
Winton Woods, OH School District, UT GO Classroom Facilities Refunding Bonds (Series 2022), (Build America Mutual
Assurance INS), 4.000%, 11/1/2049
782,341
 
 
TOTAL
126,128,810
 
 
Puerto Rico—0.8%
 
1,000,000
 
Puerto Rico Sales Tax Financing Corp., Restructured Sales Tax Bonds (Series 2019A), (Original Issue Yield: 5.154%),
5.000%, 7/1/2058
1,016,716
 
 
Virgin Islands—0.2%
 
345,000
 
Matching Fund Special Purpose Securitization Corporation, VI, Matching Fund Securitization Bonds (Series 2022A),
5.000%, 10/1/2039
350,461
 
 
TOTAL MUNICIPAL BONDS
(IDENTIFIED COST $130,100,749)
127,495,987
3
Principal
Amount
 
 
Value
 
2
SHORT-TERM MUNICIPALS—3.4%
 
 
 
Ohio—3.4%
 
$2,400,000
 
Allen County, OH (Bon Secours Mercy Health), (Series 2010C) Daily VRDNs, (BMO Harris Bank, N.A. LOC),
0.670%, 6/1/2022
$2,400,000
100,000
 
Franklin County, OH Hospital Facility Authority (Nationwide Children's Hospital), (Series 2008B) Weekly VRDNs,
0.720%, 6/2/2022
100,000
1,950,000
 
Ohio State Higher Educational Facility Commission (Cleveland Clinic), (Series 2013B-2) Daily VRDNs, (Bank of New York
Mellon, N.A. LIQ), 0.620%, 6/1/2022
1,950,000
 
 
TOTAL SHORT-TERM MUNICIPALS
(IDENTIFIED COST $4,450,000)
4,450,000
 
 
TOTAL INVESTMENT IN SECURITIES—100.2%
(IDENTIFIED COST $134,550,749)
131,945,987
 
 
OTHER ASSETS AND LIABILITIES - NET—(0.2)%3
(303,275)
 
 
TOTAL NET ASSETS—100%
$131,642,712
Securities that are subject to the federal alternative minimum tax (AMT) represent 4.3% 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 $724,547. This is based on amounts held as of each month-end throughout the nine-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 May 31, 2022, these restricted securities amounted to $1,217,799, which represented 0.9% of total net assets.
Additional information on restricted securities held at May 31, 2022, 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
$1,252,295
$1,217,799
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 May 31, 2022.
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.
◾ 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.
4
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 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 May 31, 2022, all investments of the Fund utilized Level 2 inputs in valuing the Fund's assets carried at fair value.
The following acronym(s) 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