Federated Investors, Inc.

Quarterly Schedule of Portfolio Holdings of Registered Management Investment Companies

Federated Intermediate Government Fund, Inc.

Portfolio of Investments

May 31, 2014 (unaudited)

Principal Amount			Value
		GOVERNMENT AGENCIES—41.4%
		Federal Home Loan Bank System—10.8%
$2,500,000		5.000%, 11/17/2017	$2,834,377
		Federal National Mortgage Association—30.6%
6,500,000		0.500%, 5/27/2015 - 9/28/2015	6,520,513
1,500,000		1.625%, 10/26/2015	1,529,304
		TOTAL	8,049,817
		TOTAL GOVERNMENT AGENCIES (IDENTIFIED COST $10,672,369)	10,884,194
		MORTGAGE-BACKED SECURITIES—2.9%
		Federal Home Loan Mortgage Corporation—0.0%
536		6.500%, 12/1/2015	556
		Government Agency—2.9%
393,551	^1,2	FDIC Trust 2013-R1, Class A, 1.150%, 3/25/2033	387,039
398,786	^1,2	FDIC Trust 2013-R2, Class A, 1.250%, 3/25/2033	389,831
		TOTAL	776,870
		TOTAL MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $791,782)	777,426
		COLLATERALIZED MORTGAGE OBLIGATIONS—14.0%
		Federal Home Loan Mortgage Corporation—2.4%
116,545		REMIC 2411 FJ, 0.505%, 12/15/2029	116,385
442,948		REMIC 2458 FB, 1.155%, 1/15/2032	451,936
65,907		REMIC 2534 FI, 1.055%, 2/15/2032	67,049
		TOTAL	635,370
		Federal National Mortgage Association—11.6%
1,022,810		REMIC 1999-51 F, 0.655%, 9/17/2029	1,027,648
624,269		REMIC 2006-58 FP, 0.456%, 7/25/2036	625,450
922,559		REMIC 2006-85 PF, 0.534%, 9/25/2036	929,360
456,198		REMIC 370 F21, 0.456%, 6/1/2036	456,959
		TOTAL	3,039,417
		TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (IDENTIFIED COST $3,652,859)	3,674,787
		COMMERCIAL MORTGAGE-BACKED SECURITIES—30.4%
		Agency Commercial Mortgage-Backed Securities—30.4%
3,909,934		FHLMC REMIC K029 A1, 2.839%, 10/25/2022	4,070,680
1,000,000		FHLMC REMIC K031 A2, 3.300%, 4/25/2023	1,036,387
2,000,000		FHLMC REMIC K003 A4, 5.053%, 1/25/2019	2,264,383
650,000		FNMA REMIC 2012-M13 A2, 2.377%, 5/25/2022	633,067
		TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $7,901,725)	8,004,517
		REPURCHASE AGREEMENT—11.4%
3,004,000		Interest in $1,355,000,000 joint repurchase agreement 0.08%, dated 5/30/2014 under which Bank of America, N.A. will repurchase securities provided as collateral for $1,355,009,033 on 6/2/2014. The securities provided as collateral at the end of the period held with The Bank of New York Mellon, tri-party agent, were U.S. Government Agency securities with various maturities to 3/20/2040 and the market value of those underlying securities was $1,393,118,754. (AT COST)	3,004,000
		TOTAL INVESTMENTS—100.1% (IDENTIFIED COST $26,022,735)³	26,344,924
		OTHER ASSETS AND LIABILITIES - NET—(0.1)%⁴	(29,428)
		TOTAL NET ASSETS—100%	$26,315,496

The average notional value of short futures contracts held by the Fund throughout the period was $596,016. This is based on the contracts 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 being able to take advantage 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, 2014, these restricted securities amounted to $776,870, which represented 3.0% of total net assets.
2	Denotes a restricted security that may be resold without restriction to “qualified institutional buyers” as defined in Rule 144A under the Securities Act of 1933 and that the Fund has determined to be liquid under criteria established by the Fund's Board of Directors (the “Directors”). At May 31, 2014, these liquid restricted securities amounted to $776,870, which represented 3.0% of total net assets.
3	At May 31, 2014, the cost of investments for federal tax purposes was $26,022,735. The net unrealized appreciation of investments for federal tax purposes was $322,189. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $382,776 and net unrealized depreciation from investments for those securities having an excess of cost over value of $60,587.
4	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, 2014.

Investment Valuation

In calculating its net asset value (NAV), the Fund generally values investments as follows:

■	Fixed-income securities acquired with remaining maturities greater than 60 days are fair valued using price evaluations provided by a pricing service approved by the Directors.
■	Fixed-income securities and repurchase agreements acquired with remaining maturities of 60 days or less are valued at their amortized cost (adjusted for the accretion of any discount or amortization of any premium), unless the issuer's creditworthiness is impaired or other factors indicate that amortized cost is not an accurate estimate of the investment's fair value, in which case it would be valued in the same manner as a longer-term security.
■	Shares of other mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs.
■	Derivative contracts listed on exchanges are valued at their reported settlement or closing price.
■	Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Directors.
■	For securities that are fair valued in accordance with procedures established by and under the general supervision of the Directors, certain factors may be considered such as: the purchase price of the security, information obtained by contacting the issuer, 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 and public trading in similar securities of the issuer or comparable issuers.

If the Fund cannot obtain a price or price evaluation from a pricing service for an investment, the Fund may attempt to value the investment based upon the mean of bid and asked quotations or fair value the investment based on price evaluations, from one or more dealers. If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, or 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, 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 purchase or sell an investment at the price used to calculate the Fund's NAV.

Fair Valuation Procedures

The Directors have appointed a Valuation Committee comprised of officers of the Fund, Federated Investment Management Company (“Adviser”) and certain of the Adviser's affiliated companies to determine fair value of securities and in overseeing the calculation of the NAV. The Directors 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 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 Directors. The Directors 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 U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for other types of fixed-income securities and 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 Directors.

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, including investment companies with daily net asset values, if applicable.

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, 2014, all investments of the Fund utilized Level 2 inputs, in valuing the Fund's assets carried at fair value.

(a) The registrant’s Principal Executive Officer and Principal Financial Officer have concluded that the registrant’s disclosure controls and procedures (as defined in rule 30a-3(c) under the Act) are effective in design and operation and are sufficient to form the basis of the certifications required by Rule 30a-(2) under the Act, based on their evaluation of these disclosure controls and procedures within 90 days of the filing date of this report on Form N-Q.

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in rule 30a-3(d) under the Act) during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

FDIC	—Federal Deposit Insurance Corporation
FHLMC	—Federal Home Loan Mortgage Corporation
FNMA	—Federal National Mortgage Association
REMIC	—Real Estate Mortgage Investment Conduit