United States
Securities and Exchange Commission
Washington, D.C. 20549
Form N-CSR
Certified Shareholder Report of Registered Management Investment Companies
811-6061
(Investment Company Act File Number)
Federated Hermes Index Trust
_______________________________________________________________
(Exact Name of Registrant as Specified in Charter)
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, Pennsylvania 15086-7561
(Address of Principal Executive Offices)
(412) 288-1900
(Registrant's Telephone Number)
Peter J. Germain, Esquire
1001 Liberty Avenue
Pittsburgh, Pennsylvania 15222-3779
(Name and Address of Agent for Service)
(Notices should be sent to the Agent for Service)
Date of Fiscal Year End: 10/31/21
Date of Reporting Period: 10/31/21
Item 1. | Reports to Stockholders |
Share Class | Ticker | Institutional | FMCRX | Service | FMDCX | R6 | FMCLX |
Federated Hermes Mid-Cap Index Fund
A Portfolio of Federated Hermes Index Trust
1 Year | 5 Years | 10 Years | |
Institutional Shares3 | 48.88% | 14.65% | 13.67% |
Service Shares | 48.52% | 14.35% | 13.40% |
Class R6 Shares3 | 48.87% | 14.66% | 13.55% |
S&P 400 | 48.90% | 14.89% | 13.90% |
Sector Composition | Percentage of Total Net Assets |
Industrials | 18.1% |
Consumer Discretionary | 14.7% |
Financials | 14.4% |
Information Technology | 14.0% |
Health Care | 10.2% |
Real Estate | 9.7% |
Materials | 5.8% |
Consumer Staples | 3.3% |
Utilities | 3.0% |
Energy | 2.1% |
Communication Services | 1.9% |
Securities Lending Collateral2 | 0.2% |
Cash Equivalents3 | 3.0% |
Derivative Contracts4 | 0.1% |
Other Assets and Liabilities—Net5 | (0.5)% |
TOTAL6 | 100% |
Shares | Value | ||
1 | COMMON STOCKS—97.2% | ||
Communication Services—1.9% | |||
933 | Cable One, Inc. | $1,596,559 | |
25,250 | 2 | Iridium Communications, Inc. | 1,023,887 |
26,284 | New York Times Co., Class A | 1,434,844 | |
42,879 | Tegna, Inc. | 843,001 | |
20,409 | Telephone and Data System, Inc. | 382,465 | |
19,325 | 2 | TripAdvisor, Inc. | 637,145 |
7,483 | Wiley (John) & Sons, Inc., Class A | 405,354 | |
9,095 | World Wrestling Entertainment, Inc. | 555,614 | |
12,950 | 2 | Yelp, Inc. | 500,258 |
10,460 | 2 | Ziff Davis, Inc. | 1,341,704 |
TOTAL | 8,720,831 | ||
Consumer Discretionary—14.7% | |||
18,469 | 2 | Adient PLC | 768,680 |
19,977 | American Eagle Outfitters, Inc. | 474,254 | |
7,665 | 2 | AutoNation, Inc. | 928,385 |
32,135 | Block (H&R), Inc. | 741,354 | |
18,608 | 2 | Boyd Gaming Corp. | 1,186,818 |
13,812 | Brunswick Corp. | 1,285,759 | |
14,552 | 2 | Callaway Golf Co. | 393,632 |
32,077 | 2 | Capri Holdings Ltd. | 1,707,780 |
8,540 | Carter’s, Inc. | 841,361 | |
6,023 | Choice Hotels International, Inc. | 846,954 | |
5,418 | Churchill Downs, Inc. | 1,246,140 | |
6,861 | Columbia Sportswear Co. | 712,446 | |
2,774 | Cracker Barrel Old Country Store, Inc. | 369,414 | |
11,202 | 2 | Crocs, Inc. | 1,808,563 |
27,773 | Dana, Inc. | 616,283 | |
4,991 | 2 | Deckers Outdoor Corp. | 1,972,992 |
10,430 | Dick’s Sporting Goods, Inc. | 1,295,510 | |
10,336 | 2 | Five Below, Inc. | 2,039,293 |
16,259 | Foot Locker, Inc. | 775,067 | |
8,046 | 2 | Fox Factory Holding Corp. | 1,295,004 |
11,419 | 2,3 | GameStop Corp. | 2,095,501 |
45,320 | Gentex Corp. | 1,603,875 | |
64,604 | 2 | Goodyear Tire & Rubber Co. | 1,235,228 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Consumer Discretionary—continued | |||
668 | Graham Holdings Co. | $391,348 | |
8,809 | 2 | Grand Canyon Education, Inc. | 702,077 |
29,438 | Harley-Davidson, Inc. | 1,074,193 | |
3,493 | 2 | Helen of Troy Ltd. | 785,750 |
4,423 | Jack in the Box, Inc. | 437,656 | |
11,395 | KB HOME | 457,509 | |
32,812 | Kohl’s Corp. | 1,592,366 | |
9,590 | Lear Corp. | 1,648,042 | |
5,693 | Lithia Motors, Inc. | 1,817,319 | |
8,138 | Marriott Vacations Worldwide Corp. | 1,279,456 | |
62,092 | 2 | Mattel, Inc. | 1,354,227 |
4,538 | Murphy USA, Inc. | 739,467 | |
22,017 | 2 | Nordstrom, Inc. | 632,548 |
11,801 | 2 | Ollie’s Bargain Outlet Holding, Inc. | 798,456 |
5,742 | Papa Johns International, Inc. | 712,467 | |
10,465 | Polaris, Inc., Class A | 1,202,952 | |
3,181 | 2 | RH | 2,098,283 |
17,752 | 2 | Scientific Games Corp. | 1,421,048 |
34,331 | Service Corp. International | 2,351,330 | |
9,060 | 2 | Six Flags Entertainment Corp. | 372,638 |
24,622 | 2 | Skechers USA, Inc., Class A | 1,137,783 |
30,000 | 2 | Solo Brands, Inc. | 550,800 |
24,685 | 2 | Taylor Morrison Home Corp. | 753,633 |
35,240 | Tempur Sealy International, Inc. | 1,567,123 | |
13,321 | Texas Roadhouse, Inc. | 1,183,038 | |
34,717 | The Wendy’s Co. | 774,189 | |
8,213 | Thor Industries, Inc. | 837,397 | |
22,036 | Toll Brothers, Inc. | 1,325,906 | |
6,165 | 2 | TopBuild Corp. | 1,584,220 |
19,770 | Travel + Leisure Co. | 1,074,302 | |
30,680 | 2 | Tri Pointe Homes, Inc. | 742,149 |
13,445 | 2 | Urban Outfitters, Inc. | 429,299 |
14,523 | 2 | Victoria’s Secret & Co. | 732,976 |
5,597 | 2 | Visteon Corp. | 633,468 |
14,973 | Williams-Sonoma, Inc. | 2,780,935 | |
4,298 | Wingstop, Inc. | 741,276 | |
16,630 | Wyndham Hotels & Resorts, Inc. | 1,404,736 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Consumer Discretionary—continued | |||
18,246 | 2 | YETI Holdings, Inc. | $1,794,129 |
TOTAL | 68,156,784 | ||
Consumer Staples—3.3% | |||
25,426 | 2 | BJ’s Wholesale Club Holdings, Inc. | 1,485,895 |
6,738 | Casey’s General Stores, Inc. | 1,290,597 | |
57,373 | 2 | Coty, Inc. - CL A | 486,523 |
32,640 | 2 | Darling Ingredients, Inc. | 2,758,733 |
12,702 | Energizer Holdings, Inc. | 463,242 | |
35,976 | Flowers Foods, Inc. | 890,406 | |
17,847 | 2 | Grocery Outlet Holding Corp. | 396,025 |
14,298 | 2 | Hain Celestial Group, Inc. | 641,551 |
11,840 | Ingredion, Inc. | 1,127,523 | |
3,392 | Lancaster Colony Corp. | 576,640 | |
9,961 | Nu Skin Enterprises, Inc., Class A | 399,934 | |
29,259 | 2 | Performance Food Group Co. | 1,323,385 |
7,429 | 2 | Pilgrim’s Pride Corp. | 209,201 |
10,381 | 2 | Post Holdings, Inc. | 1,053,464 |
5,043 | Sanderson Farms, Inc. | 955,396 | |
22,911 | 2 | Sprouts Farmers Market, Inc. | 507,250 |
1,315 | 2 | The Boston Beer Co., Inc., Class A | 647,611 |
7,200 | 2 | Vita Coco Co., Inc./The | 97,200 |
TOTAL | 15,310,576 | ||
Energy—2.1% | |||
59,939 | Antero Midstream Corp. | 637,751 | |
35,732 | 2 | Championx Corp. | 937,250 |
43,706 | 2 | CNX Resources Corp. | 638,545 |
18,742 | DT Midstream, Inc. | 898,866 | |
45,220 | 2 | EQT Corp. | 900,330 |
79,269 | Equitrans Midstream Corp. | 817,263 | |
20,437 | HollyFrontier Corp. | 690,771 | |
28,721 | Murphy Oil Corp. | 799,306 | |
75,022 | 2 | NOV Inc. | 1,051,809 |
45,951 | Targa Resources, Inc. | 2,512,141 | |
TOTAL | 9,884,032 | ||
Financials—14.4% | |||
7,309 | Affiliated Managers Group | 1,227,035 | |
2,202 | 2 | Alleghany Corp. | 1,434,339 |
11,835 | American Financial Group, Inc. | 1,610,033 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Financials—continued | |||
30,264 | Associated Banc-Corp. | $674,282 | |
7,303 | Bank of Hawaii Corp. | 617,104 | |
27,732 | Bank OZK | 1,238,789 | |
16,263 | 2 | Brighthouse Financial, Inc. | 816,891 |
34,504 | Cadence Bank | 1,001,306 | |
13,291 | Cathay Bancorp, Inc. | 560,747 | |
17,380 | CIT Group Holdings, Inc. | 860,831 | |
21,674 | CNO Financial Group, Inc. | 523,210 | |
19,290 | Commerce Bancshares, Inc. | 1,360,138 | |
8,482 | Cullen Frost Bankers, Inc. | 1,098,419 | |
29,068 | East West Bancorp, Inc. | 2,310,325 | |
25,454 | Essent Group Ltd. | 1,221,792 | |
6,984 | Evercore, Inc., Class A | 1,060,451 | |
7,052 | FactSet Research Systems | 3,130,312 | |
18,286 | Federated Hermes, Inc. | 609,107 | |
19,586 | First American Financial Corp. | 1,432,520 | |
6,999 | First Cash, Inc. | 619,202 | |
18,632 | First Financial Bankshares, Inc. | 945,015 | |
86,914 | First Horizon Corp. | 1,474,931 | |
62,729 | FNB Corp. (PA) | 730,793 | |
27,094 | Fulton Financial Corp. | 436,213 | |
19,162 | Glacier Bancorp, Inc. | 1,059,467 | |
14,989 | Hancock Whitney Corp. | 741,656 | |
8,220 | Hanover Insurance Group, Inc. | 1,035,720 | |
29,691 | Home Bancshares, Inc. | 705,458 | |
12,538 | Interactive Brokers Group, Inc., Class A | 888,317 | |
8,708 | International Bancshares Corp. | 369,219 | |
30,681 | Janus Henderson Group PLC | 1,426,667 | |
35,168 | Jefferies Financial Group, Inc. | 1,512,224 | |
11,666 | Kemper Corp. | 740,558 | |
2,595 | Kinsale Capital Group, Inc. | 485,654 | |
4,133 | Mercury General Corp. | 225,207 | |
76,915 | MGIC Investment Corp. | 1,242,946 | |
29,029 | Navient Corp. | 571,871 | |
85,979 | New York Community Bancorp, Inc. | 1,068,719 | |
50,446 | Old Republic International Corp. | 1,303,020 | |
20,526 | PacWest Bancorp | 974,369 | |
13,520 | Pinnacle Financial Partners, Inc. | 1,305,626 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Financials—continued | |||
8,723 | Primerica, Inc. | $1,467,558 | |
13,218 | PROG Holdings, Inc. | 534,668 | |
17,756 | Prosperity Bancshares, Inc. | 1,337,204 | |
12,893 | Reinsurance Group of America | 1,522,406 | |
8,968 | RenaissanceRe Holdings Ltd. | 1,271,662 | |
6,897 | RLI Corp. | 747,014 | |
18,995 | SEI Investments Co. | 1,197,445 | |
10,500 | Selective Insurance Group, Inc. | 822,885 | |
10,332 | Signature Bank | 3,077,076 | |
68,406 | SLM Corp. | 1,255,250 | |
37,385 | Sterling Bancorp | 951,448 | |
22,539 | Stifel Financial Corp. | 1,642,417 | |
25,863 | Synovus Financial Corp. | 1,204,957 | |
13,149 | 2 | Texas Capital Bancshares, Inc. | 796,829 |
5,495 | UMB Financial Corp. | 543,016 | |
29,305 | Umpqua Holdings Corp. | 599,287 | |
25,093 | United Bankshares, Inc. | 928,190 | |
39,284 | Unum Group | 1,000,564 | |
93,074 | Valley National Bancorp | 1,234,161 | |
11,172 | Washington Federal, Inc. | 395,042 | |
15,896 | Webster Financial Corp. Waterbury | 889,540 | |
9,910 | Wintrust Financial Corp. | 877,035 | |
TOTAL | 66,946,137 | ||
Health Care—10.2% | |||
20,189 | 2 | Acadia Healthcare Co., Inc. | 1,251,718 |
6,260 | 2 | Amedisys, Inc. | 1,060,068 |
22,590 | 2 | Arrowhead Pharmaceuticals, Inc. | 1,441,694 |
3,334 | 2 | Aura Biosciences, Inc. | 49,343 |
2,985 | Chemed Corp. | 1,439,516 | |
5,016 | 2 | Emergent BioSolutions, Inc. | 239,113 |
17,738 | Encompass Health Corp. | 1,127,427 | |
28,668 | 2 | Envista Holdings Corp. | 1,120,919 |
60,074 | 2 | Exelixis, Inc. | 1,292,192 |
17,064 | 2 | Globus Medical, Inc. | 1,316,829 |
10,011 | 2 | Haemonetics Corp. | 687,856 |
27,218 | 2 | Halozyme Therapeutics, Inc. | 1,036,189 |
16,043 | 2 | HealthEquity, Inc. | 1,061,726 |
11,821 | Hill-Rom Holdings, Inc. | 1,831,073 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Health Care—continued | |||
3,846 | 2 | ICU Medical, Inc. | $900,464 |
12,746 | 2 | Integra Lifesciences Corp. | 847,099 |
11,579 | 2 | Jazz Pharmaceuticals Plc. | 1,540,470 |
6,089 | 2 | LHC Group, Inc. | 819,518 |
9,513 | 2 | Livanova PLC | 729,837 |
9,312 | 2 | Masimo Corp. | 2,640,324 |
5,301 | 2 | Medpace Holdings, Inc. | 1,200,942 |
19,333 | 2 | Minerva Surgical, Inc. | 180,957 |
11,549 | 2 | Molina Healthcare, Inc. | 3,415,270 |
20,466 | 2 | Nektar Therapeutics | 310,265 |
19,161 | 2 | Neogen Corp. | 810,702 |
17,866 | 2 | Neurocrine Biosciences, Inc. | 1,883,255 |
10,243 | 2 | NuVasive, Inc. | 546,566 |
24,766 | 2 | Option Care Health, Inc. | 676,855 |
2,400 | 2 | Paragon 28, Inc. | 50,496 |
8,953 | Patterson Cos., Inc. | 279,871 | |
5,581 | 2 | Penumbra, Inc. | 1,543,426 |
25,580 | Perrigo Co. PLC | 1,154,937 | |
9,110 | 2 | Progyny, Inc. | 559,627 |
5,467 | 2 | Quidel Corp. | 725,854 |
26,690 | 2 | R1 RCM, Inc. | 579,173 |
9,491 | 2 | Repligen Corp. | 2,757,135 |
16,667 | 2 | Sonendo, Inc. | 153,336 |
8,904 | 2 | Staar Surgical Co. | 1,054,768 |
21,353 | 2 | Syneos Health, Inc. | 1,993,089 |
11,948 | 2 | Tandem Diabetes Care, Inc. | 1,628,871 |
22,656 | 2 | Tenet Healthcare Corp. | 1,623,529 |
8,047 | 2 | United Therapeutics Corp. | 1,535,046 |
TOTAL | 47,097,345 | ||
Industrials—18.1% | |||
6,318 | Acuity Brands, Inc. | 1,297,907 | |
29,796 | 2 | AECOM | 2,037,153 |
11,037 | AGCO Corp. | 1,348,832 | |
9,340 | 2 | ASGN, Inc. | 1,117,624 |
9,005 | 2 | Avis Budget Group, Inc. | 1,560,657 |
12,324 | 2 | Axon Enterprise, Inc. | 2,217,827 |
8,935 | Brinks Co. (The) | 615,443 | |
34,010 | 2 | Builders Firstsource, Inc. | 1,981,763 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Industrials—continued | |||
4,505 | 2 | CACI International, Inc., Class A | $1,295,818 |
10,687 | Carlisle Cos., Inc. | 2,382,346 | |
11,383 | 2 | Clean Harbors, Inc. | 1,281,043 |
23,108 | 2 | Colfax Corp. | 1,192,835 |
11,475 | Crane Co. | 1,185,138 | |
7,782 | Curtiss Wright Corp. | 993,606 | |
22,385 | Donaldson Co., Inc. | 1,343,324 | |
5,940 | 2 | Dycom Industries, Inc. | 471,755 |
9,518 | Emcor Group, Inc. | 1,156,342 | |
8,398 | EnerSys, Inc. | 672,176 | |
25,192 | Flowserve Corp. | 846,955 | |
14,658 | 2 | Fluor Corp. | 284,952 |
6,624 | 2 | FTI Consulting, Inc. | 953,326 |
4,033 | GATX Corp. | 382,530 | |
30,658 | Graco, Inc. | 2,304,868 | |
18,654 | 2 | GXO Logistics, Inc. | 1,656,475 |
16,169 | 2 | Hexcel Corp. | 917,429 |
9,774 | Hubbell, Inc. | 1,948,642 | |
20,868 | 2 | IAA, Inc. | 1,244,776 |
6,197 | Insperity, Inc. | 774,625 | |
15,352 | ITT Corp. | 1,444,163 | |
61,358 | 2 | Jet Blue Airways Corp. | 860,853 |
24,635 | 2 | KAR Auction Services, Inc. | 361,395 |
24,785 | KBR, Inc. | 1,051,875 | |
16,586 | Kennametal, Inc. | 659,294 | |
15,227 | 2 | Kirby Corp. | 798,047 |
31,361 | Knight-Swift Transportation Holdings, Inc. | 1,777,855 | |
5,697 | Landstar System, Inc. | 1,001,590 | |
6,430 | Lennox International, Inc. | 1,924,370 | |
10,600 | Lincoln Electric Holdings | 1,509,440 | |
9,607 | Manpower, Inc. | 928,517 | |
12,930 | 2 | Mastec, Inc. | 1,152,451 |
5,658 | 2 | Mercury Systems, Inc. | 291,613 |
9,984 | 2 | Middleby Corp. | 1,821,481 |
18,998 | Miller Herman, Inc. | 739,402 | |
6,423 | MSA Safety, Inc. | 982,912 | |
8,590 | MSC Industrial Direct Co. | 722,161 | |
9,767 | Nordson Corp. | 2,482,869 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Industrials—continued | |||
37,470 | nVent Electric PLC | $1,328,311 | |
14,622 | OshKosh Truck Corp. | 1,564,554 | |
18,514 | Owens Corning, Inc. | 1,729,393 | |
12,148 | Regal Rexnord Corp. | 1,850,505 | |
12,610 | Ryder System, Inc. | 1,071,220 | |
4,669 | 2 | Saia, Inc. | 1,459,716 |
11,177 | Science Applications International Corp. | 1,003,471 | |
7,874 | Simpson Manufacturing Co., Inc. | 835,353 | |
16,385 | 2 | Stericycle, Inc. | 1,096,484 |
33,781 | 2 | SunRun, Inc. | 1,948,488 |
17,648 | Terex Corp. | 790,630 | |
9,721 | Tetra Tech, Inc. | 1,707,591 | |
13,405 | Timken Co. | 951,085 | |
21,781 | Toro Co. | 2,079,432 | |
19,216 | 2 | Trex Co., Inc. | 2,044,582 |
7,308 | Trinity Industries, Inc. | 204,989 | |
31,458 | 2 | Univar, Inc. | 804,696 |
3,725 | Valmont Industries, Inc. | 890,126 | |
5,281 | Watsco, Inc. | 1,529,272 | |
6,698 | Werner Enterprises, Inc. | 303,553 | |
12,070 | Woodward, Inc. | 1,363,306 | |
17,619 | 2 | XPO Logistics, Inc. | 1,511,710 |
TOTAL | 84,044,922 | ||
Information Technology—14.0% | |||
22,976 | 2 | ACI Worldwide, Inc. | 704,904 |
11,346 | Alliance Data Systems Corp. | 967,247 | |
16,938 | Amkor Technology, Inc. | 371,281 | |
12,836 | 2 | Arrow Electronics, Inc. | 1,485,767 |
7,200 | 2 | Arteris, Inc. | 160,920 |
12,833 | 2 | Aspen Technology, Inc. | 2,010,803 |
375 | 2 | AvidXchange Holdings, Inc. | 8,336 |
18,094 | Avnet, Inc. | 689,562 | |
7,508 | Belden, Inc. | 452,057 | |
8,040 | 2 | Blackbaud, Inc. | 570,920 |
14,136 | Brooks Automation, Inc. | 1,646,137 | |
22,037 | CDK Global, Inc. | 959,050 | |
7,097 | 2 | Cerence, Inc. | 746,108 |
24,437 | 2 | Ciena Corp. | 1,326,685 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Information Technology—continued | |||
11,089 | 2 | Cirrus Logic, Inc. | $896,102 |
7,045 | CMC Materials, Inc. | 904,367 | |
32,583 | Cognex Corp. | 2,853,945 | |
4,362 | 2 | Coherent, Inc. | 1,109,693 |
7,885 | 2 | Commvault Systems, Inc. | 484,928 |
7,625 | 2 | Concentrix Corp. | 1,354,810 |
13,283 | 2 | Digital Turbine, Inc. | 1,143,135 |
10,183 | 2 | Envestnet, Inc. | 850,281 |
5,262 | 2 | Fair Isaac & Co., Inc. | 2,095,328 |
16,089 | 2 | First Solar, Inc. | 1,924,084 |
30,907 | Genpact Ltd. | 1,525,261 | |
15,787 | 2 | II-VI, Inc. | 955,271 |
26,139 | Jabil, Inc. | 1,567,294 | |
28,335 | 2 | Lattice Semiconductor Corp. | 1,967,582 |
4,369 | Littelfuse, Inc. | 1,286,889 | |
13,383 | 2 | LiveRamp Holdings, Inc. | 716,124 |
14,466 | 2 | Lumentum Holdings, Inc. | 1,194,602 |
13,023 | 2 | Manhattan Associates, Inc. | 2,364,195 |
10,792 | Maximus, Inc. | 912,679 | |
11,214 | 2 | Mimecast Ltd. | 845,984 |
10,474 | MKS Instruments, Inc. | 1,571,624 | |
25,499 | National Instruments Corp. | 1,082,943 | |
23,067 | 2 | NCR Corp. | 912,069 |
21,606 | 2 | NetScout Systems, Inc. | 584,658 |
7,076 | 2 | Paylocity Corp. | 2,159,171 |
6,525 | 2 | Qualys, Inc. | 812,232 |
40,016 | 2 | Sabre Corp. | 415,366 |
12,501 | 2 | SailPoint Technologies Holding | 599,798 |
12,498 | 2 | Semtech Corp. | 1,062,705 |
7,353 | 2 | Silicon Laboratories, Inc. | 1,387,952 |
9,777 | 2 | Solaredge Technologies, Inc. | 3,467,706 |
15,252 | 2,3 | SunPower Corp. | 513,382 |
6,243 | 2 | Synaptics, Inc. | 1,214,701 |
9,467 | Synnex Corp. | 994,035 | |
24,306 | 2 | Teradata Corp. | 1,374,747 |
8,193 | Universal Display Corp. | 1,500,958 | |
9,220 | 2 | ViaSat, Inc. | 550,342 |
26,480 | Vishay Intertechnology, Inc. | 508,946 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Information Technology—continued | |||
32,187 | Vontier Corp. | $1,088,886 | |
8,495 | 2 | WEX, Inc. | 1,271,702 |
19,376 | 2 | Wolfspeed, Inc. | 2,327,251 |
27,353 | Xerox Holdings Corp. | 486,883 | |
TOTAL | 64,940,388 | ||
Materials—5.8% | |||
11,780 | Aptargroup, Inc. | 1,422,788 | |
10,589 | Ashland Global Holdings, Inc. | 1,016,650 | |
15,872 | Avient Corp. | 855,183 | |
9,575 | Cabot Corp. | 510,826 | |
37,449 | Chemours Co./The | 1,049,321 | |
74,256 | 2,3 | Cleveland-Cliffs, Inc. | 1,790,312 |
22,747 | Commercial Metals Corp. | 731,999 | |
6,683 | Compass Minerals International, Inc. | 438,405 | |
9,308 | Eagle Materials, Inc. | 1,380,935 | |
4,203 | Greif, Inc., Class A | 271,850 | |
7,502 | 2 | Ingevity Corp. | 584,481 |
21,076 | Louisiana-Pacific Corp. | 1,242,009 | |
5,578 | Minerals Technologies, Inc. | 395,703 | |
1,459 | Newmarket Corp. | 496,075 | |
31,014 | Olin Corp. | 1,767,178 | |
11,626 | Reliance Steel & Aluminum Co. | 1,699,256 | |
12,482 | Royal Gold, Inc. | 1,235,968 | |
24,420 | RPM International, Inc. | 2,129,424 | |
5,980 | Scotts Miracle-Gro Co. | 887,791 | |
7,288 | Sensient Technologies Corp. | 696,733 | |
14,372 | Silgan Holdings, Inc. | 577,754 | |
17,382 | Sonoco Products Co. | 1,007,287 | |
32,267 | Steel Dynamics, Inc. | 2,132,203 | |
48,541 | United States Steel Corp. | 1,280,997 | |
31,892 | Valvoline, Inc. | 1,083,052 | |
2,060 | Worthington Industries, Inc. | 111,899 | |
TOTAL | 26,796,079 | ||
Real Estate—9.7% | |||
24,956 | American Campus Communities, Inc. | 1,340,636 | |
29,525 | Apartment Income REIT Corp. | 1,582,835 | |
63,821 | Brixmor Property Group, Inc. | 1,495,964 | |
19,945 | Camden Property Trust | 3,253,030 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Real Estate—continued | |||
8,422 | Coresite Realty Corp. | $1,199,798 | |
22,246 | Corporate Office Properties Trust | 603,312 | |
28,516 | Cousins Properties, Inc. | 1,129,519 | |
23,376 | Cyrusone, Inc. | 1,917,300 | |
33,612 | Douglas Emmett, Inc. | 1,098,440 | |
7,184 | EastGroup Properties, Inc. | 1,420,852 | |
14,636 | EPR Properties | 734,874 | |
23,053 | First Industrial Realty Trust | 1,342,376 | |
33,793 | Healthcare Realty Trust, Inc. | 1,117,197 | |
19,235 | Highwoods Properties, Inc. | 862,497 | |
29,691 | Hudson Pacific Properties, Inc. | 764,543 | |
22,812 | JBG Smith Properties | 658,354 | |
10,227 | 2 | Jones Lang LaSalle, Inc. | 2,640,918 |
15,974 | Kilroy Realty Corp. | 1,076,328 | |
40,154 | Kite Realty Group Trust | 815,126 | |
17,925 | Lamar Advertising Co. | 2,029,110 | |
14,057 | Life Storage, Inc. | 1,880,967 | |
26,954 | Macerich Co. (The) | 487,598 | |
98,985 | Medical PPTYS Trust, Inc. | 2,111,350 | |
32,033 | National Retail Properties, Inc. | 1,453,017 | |
14,248 | National Storage Affiliates Trust | 889,930 | |
45,284 | Omega Healthcare Investors, Inc. | 1,329,538 | |
32,338 | 2 | Park Hotels & Resorts, Inc. | 599,223 |
14,477 | Pebblebrook Hotel Trust | 325,153 | |
28,240 | Physicians Realty Trust | 536,842 | |
16,502 | PotlatchDeltic Corp. | 862,560 | |
3,440 | PS Business Parks, Inc. | 611,288 | |
24,828 | Rayonier, Inc. | 926,829 | |
26,060 | Rexford Industrial Realty, Inc. | 1,751,232 | |
43,361 | Sabra Health Care REIT, Inc. | 613,558 | |
9,199 | SL Green Realty Corp. | 644,574 | |
21,049 | Spirit Realty Capital, Inc. | 1,029,928 | |
44,902 | STORE Capital Corp. | 1,541,486 | |
17,890 | Urban Edge Properties | 313,612 | |
TOTAL | 44,991,694 | ||
Utilities—3.0% | |||
10,321 | Allete, Inc. | 635,154 | |
11,027 | Black Hills Corp. | 731,972 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Utilities—continued | |||
40,856 | Essential Utilities, Inc. | $1,923,092 | |
25,360 | Hawaiian Electric Industries, Inc. | 1,028,602 | |
8,870 | Idacorp, Inc. | 925,318 | |
35,813 | MDU Resources Group, Inc. | 1,100,534 | |
15,939 | National Fuel Gas Co. | 915,377 | |
18,420 | New Jersey Resources Corp. | 696,460 | |
10,195 | Northwestern Corp. | 579,688 | |
30,460 | OGE Energy Corp. | 1,037,772 | |
6,491 | ONE Gas, Inc. | 436,844 | |
14,915 | PNM Resources, Inc. | 742,021 | |
10,240 | Southwest Gas Holdings, Inc. | 709,120 | |
10,198 | Spire, Inc. | 640,027 | |
43,462 | UGI Corp. | 1,886,685 | |
TOTAL | 13,988,666 | ||
TOTAL COMMON STOCKS (IDENTIFIED COST $238,481,394) | 450,877,454 | ||
INVESTMENT COMPANIES—3.2% | |||
1,112,206 | Federated Hermes Government Obligations Fund, Premier Shares, 0.03%4 | 1,112,206 | |
13,670,771 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 0.02%4 | 13,674,872 | |
TOTAL INVESTMENT COMPANIES (IDENTIFIED COST $14,786,139) | 14,787,078 | ||
TOTAL INVESTMENT IN SECURITIES—100.4% (IDENTIFIED COST $253,267,533)5 | 465,664,532 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.4)%6 | (1,991,526) | ||
TOTAL NET ASSETS—100% | $463,673,006 |
Description | Number of Contracts | Notional Value | Expiration Date | Value and Unrealized Appreciation |
2S&P MidCap 400 E-Mini Index | 48 | $13,389,120 | December 2021 | $464,568 |
Federated Hermes, Inc. | Federated Hermes Government Obligations Fund, Premier Shares* | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares* | Total of Affiliated Transactions | |
Value as of 10/31/2020 | $517,889 | $1,077,921 | $4,786,111 | $6,381,921 |
Purchases at Cost | $— | $32,997,312 | $162,704,197 | $195,701,509 |
Proceeds from Sales | $(102,211) | $(32,963,027) | $(153,817,493) | $(186,882,731) |
Change in Unrealized Appreciation/ Depreciation | $159,656 | N/A | $1,251 | $160,907 |
Net Realized Gain/(Loss) | $33,773 | N/A | $806 | $34,579 |
Value as of 10/31/2021 | $609,107 | $1,112,206 | $13,674,872 | $15,396,185 |
Shares Held as of 10/31/2021 | 18,286 | 1,112,206 | 13,670,771 | 14,801,263 |
Dividend Income | $43,085 | $518 | $5,580 | $49,183 |
REIT | —Real Estate Investment Trust |
Year Ended October 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $18.35 | $20.69 | $23.69 | $27.75 | $25.13 |
Income From Investment Operations: | |||||
Net investment income | 0.21 | 0.20 | 0.26 | 0.32 | 0.261 |
Net realized and unrealized gain (loss) | 7.99 | (0.44) | 1.37 | (0.01) | 5.22 |
TOTAL FROM INVESTMENT OPERATIONS | 8.20 | (0.24) | 1.63 | 0.31 | 5.48 |
Less Distributions: | |||||
Distributions from net investment income | (0.18) | (0.22) | (0.27) | (0.31) | (0.28) |
Distributions from net realized gain | (2.86) | (1.88) | (4.36) | (4.06) | (2.58) |
TOTAL DISTRIBUTIONS | (3.04) | (2.10) | (4.63) | (4.37) | (2.86) |
Net Asset Value, End of Period | $23.51 | $18.35 | $20.69 | $23.69 | $27.75 |
Total Return2 | 48.88% | (1.41)% | 8.63% | 0.83% | 23.19% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.31% | 0.31% | 0.31% | 0.31% | 0.31% |
Net investment income | 0.96% | 1.22% | 1.31% | 1.28% | 1.01% |
Expense waiver/reimbursement4 | 0.14% | 0.15% | 0.12% | 0.10% | 0.12% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $109,614 | $87,376 | $161,149 | $154,139 | $166,962 |
Portfolio turnover5 | 31% | 34% | 31% | 29% | 35% |
Year Ended October 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $18.37 | $20.70 | $23.71 | $27.77 | $25.15 |
Income From Investment Operations: | |||||
Net investment income | 0.15 | 0.17 | 0.21 | 0.26 | 0.201 |
Net realized and unrealized gain (loss) | 8.00 | (0.45) | 1.36 | (0.02) | 5.21 |
TOTAL FROM INVESTMENT OPERATIONS | 8.15 | (0.28) | 1.57 | 0.24 | 5.41 |
Less Distributions: | |||||
Distributions from net investment income | (0.12) | (0.17) | (0.22) | (0.24) | (0.21) |
Distributions from net realized gain | (2.86) | (1.88) | (4.36) | (4.06) | (2.58) |
TOTAL DISTRIBUTIONS | (2.98) | (2.05) | (4.58) | (4.30) | (2.79) |
Net Asset Value, End of Period | $23.54 | $18.37 | $20.70 | $23.71 | $27.77 |
Total Return2 | 48.52% | (1.63)% | 8.32% | 0.56% | 22.86% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Net investment income | 0.71% | 0.95% | 1.08% | 1.03% | 0.76% |
Expense waiver/reimbursement4 | 0.13% | 0.13% | 0.11% | 0.10% | 0.09% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $306,048 | $251,645 | $336,868 | $434,678 | $639,787 |
Portfolio turnover5 | 31% | 34% | 31% | 29% | 35% |
Year Ended October 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $18.38 | $20.71 | $23.72 | $27.78 | $25.15 |
Income From Investment Operations: | |||||
Net investment income | 0.21 | 0.22 | 0.26 | 0.32 | 0.261 |
Net realized and unrealized gain (loss) | 8.00 | (0.45) | 1.36 | (0.01) | 5.23 |
TOTAL FROM INVESTMENT OPERATIONS | 8.21 | (0.23) | 1.62 | 0.31 | 5.49 |
Less Distributions: | |||||
Distributions from net investment income | (0.18) | (0.22) | (0.27) | (0.31) | (0.28) |
Distributions from net realized gain | (2.86) | (1.88) | (4.36) | (4.06) | (2.58) |
TOTAL DISTRIBUTIONS | (3.04) | (2.10) | (4.63) | (4.37) | (2.86) |
Net Asset Value, End of Period | $23.55 | $18.38 | $20.71 | $23.72 | $27.78 |
Total Return2 | 48.87% | (1.35)% | 8.59% | 0.83% | 23.23% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.30% | 0.30% | 0.30% | 0.30% | 0.30% |
Net investment income | 0.96% | 1.21% | 1.34% | 1.26% | 0.96% |
Expense waiver/reimbursement4 | 0.10% | 0.11% | 0.08% | 0.07% | 0.06% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $48,011 | $37,590 | $53,991 | $46,064 | $29,384 |
Portfolio turnover5 | 31% | 34% | 31% | 29% | 35% |
October 31, 2021
Assets: | ||
Investment in securities, at value including $1,091,517 of securities loaned and $15,396,185 of investments in affiliated holdings* (identified cost $253,267,533) | $465,664,532 | |
Cash | 806 | |
Due from broker | 648,000 | |
Receivable for investments sold | 306,716 | |
Receivable for shares sold | 164,678 | |
Income receivable | 146,555 | |
Income receivable from affiliated holdings | 16,465 | |
Receivable for variation margin on futures contracts | 33,394 | |
TOTAL ASSETS | 466,981,146 | |
Liabilities: | ||
Payable for investments purchased | $1,341,678 | |
Payable for collateral due to broker for securities lending | 1,112,206 | |
Payable for shares redeemed | 630,057 | |
Payable for other service fees (Notes 2 and 5) | 66,408 | |
Payable for management fee (Note 5) | 9,555 | |
Accrued expenses (Note 5) | 148,236 | |
TOTAL LIABILITIES | 3,308,140 | |
Net assets for 19,704,143 shares outstanding | $463,673,006 | |
Net Assets Consists of: | ||
Paid-in capital | $173,696,825 | |
Total distributable earnings (loss) | 289,976,181 | |
TOTAL NET ASSETS | $463,673,006 | |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | ||
Institutional Shares: | ||
Net asset value per share ($109,613,740 ÷ 4,662,717 shares outstanding) no par value, unlimited shares authorized | $23.51 | |
Service Shares: | ||
Net asset value per share ($306,047,987 ÷ 13,002,612 shares outstanding) no par value, unlimited shares authorized | $23.54 | |
Class R6 Shares: | ||
Net asset value per share ($48,011,279 ÷ 2,038,814 shares outstanding) no par value, unlimited shares authorized | $23.55 |
Year Ended October 31, 2021
Investment Income: | |||
Dividends (including $48,665 received from affiliated holdings*) | $5,756,643 | ||
Net Income on securities loaned (includes $518 earned from affiliated holdings related to cash collateral balances*) | 6,076 | ||
TOTAL INCOME | 5,762,719 | ||
Expenses: | |||
Management fee (Note 5) | $1,358,364 | ||
Custodian fees | 28,487 | ||
Transfer agent fees (Note 2) | 234,553 | ||
Directors’/Trustees’ fees (Note 5) | 5,731 | ||
Auditing fees | 25,800 | ||
Legal fees | 8,187 | ||
Other service fees (Notes 2 and 5) | 732,831 | ||
Portfolio accounting fees | 137,961 | ||
Share registration costs | 57,373 | ||
Printing and postage | 27,789 | ||
Miscellaneous (Notes 5) | 121,822 | ||
TOTAL EXPENSES | 2,738,898 | ||
Waiver and Reimbursements: | |||
Waiver/reimbursement of management fee (Note 5) | $(458,653) | ||
Reimbursement of other operating expenses (Notes 2 and 5) | (108,956) | ||
TOTAL WAIVER AND REIMBURSEMENTS | (567,609) | ||
Net expenses | 2,171,289 | ||
Net investment income | $3,591,430 |
Realized and Unrealized Gain (Loss) on Investments and Futures Contracts: | |||
Net realized gain on investments (including realized gain of $34,579 on sales of investments in affiliated holdings*) | $77,062,474 | ||
Net realized gain on futures contracts | 4,880,708 | ||
Net change in unrealized appreciation of investments (including net change in unrealized appreciation of $160,907 of investments in affiliated holdings*) | 85,888,805 | ||
Net change in unrealized appreciation of futures contracts | 446,656 | ||
Net realized and unrealized gain (loss) on investments and futures contracts | 168,278,643 | ||
Change in net assets resulting from operations | $171,870,073 |
Year Ended October 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $3,591,430 | $4,537,207 |
Net realized gain | 81,943,182 | 56,612,110 |
Net change in unrealized appreciation/depreciation | 86,335,461 | (72,752,933) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 171,870,073 | (11,603,616) |
Distributions to Shareholders: | ||
Institutional Shares | (14,480,292) | (14,910,440) |
Service Shares | (40,189,935) | (32,784,880) |
Class R6 Shares | (6,285,569) | (5,026,616) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (60,955,796) | (52,721,936) |
Share Transactions: | ||
Proceeds from sale of shares | 61,343,711 | 65,446,293 |
Net asset value of shares issued to shareholders in payment of distributions declared | 59,208,359 | 51,192,413 |
Cost of shares redeemed | (144,405,327) | (227,708,829) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (23,853,257) | (111,070,123) |
Change in net assets | 87,061,020 | (175,395,675) |
Net Assets: | ||
Beginning of period | 376,611,986 | 552,007,661 |
End of period | $463,673,006 | $376,611,986 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Institutional Shares | $63,946 | $(37,596) |
Service Shares | 163,575 | (71,360) |
Class R6 Shares | 7,032 | — |
TOTAL | $234,553 | $(108,956) |
Other Service Fees Incurred | |
Service Shares | $732,831 |
Market Value of Securities Loaned | Collateral Received |
$1,091,517 | $1,112,206 |
Fair Value of Derivative Instruments | |||
Asset | |||
Statement of Assets and Liabilities Location | Fair Value | ||
Derivatives not accounted for as hedging instruments under ASC Topic 815 | |||
Equity contracts | Receivable for variation margin on futures contracts | $464,568* |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | |
Futures Contracts | |
Equity Contracts | $4,880,708 |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income | |
Futures Contracts | |
Equity Contracts | $446,656 |
Year Ended October 31 | 2021 | 2020 | ||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 963,285 | $20,853,211 | 1,210,184 | $21,267,418 |
Shares issued to shareholders in payment of distributions declared | 738,495 | 13,963,744 | 759,734 | 14,462,392 |
Shares redeemed | (1,800,233) | (38,449,085) | (4,998,532) | (91,016,876) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (98,453) | $(3,632,130) | (3,028,614) | $(55,287,066) |
Year Ended October 31 | 2021 | 2020 | ||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,378,605 | $30,037,709 | 2,192,153 | $37,888,157 |
Shares issued to shareholders in payment of distributions declared | 2,072,134 | 39,145,773 | 1,666,166 | 31,823,950 |
Shares redeemed | (4,145,585) | (88,164,671) | (6,433,367) | (115,084,626) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (694,846) | $(18,981,189) | (2,575,048) | $(45,372,519) |
Year Ended October 31 | 2021 | 2020 | ||
Class R6 Shares: | Shares | Amount | Shares | Amount |
Shares sold | 479,425 | $10,452,791 | 358,585 | $6,290,718 |
Shares issued to shareholders in payment of distributions declared | 321,962 | 6,098,842 | 257,662 | 4,906,071 |
Shares redeemed | (807,849) | (17,791,571) | (1,177,349) | (21,607,327) |
NET CHANGE RESULTING FROM CLASS R6 SHARE TRANSACTIONS | (6,462) | $(1,239,938) | (561,102) | $(10,410,538) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (799,761) | $(23,853,257) | (6,164,764) | $(111,070,123) |
2021 | 2020 | |
Ordinary income1 | $3,071,107 | $4,780,951 |
Long Term Capital Gains | $57,884,689 | $47,940,985 |
Undistributed ordinary income2 | $16,083,242 |
Net unrealized appreciation | $207,695,621 |
Undistributed long-term capital gains | $66,197,318 |
Purchases | $135,231,895 |
Sales | $218,467,466 |
December 23, 2021
Beginning Account Value 5/1/2021 | Ending Account Value 10/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $ 1,000.00 | $1,032.00 | $1.59 |
Service Shares | $ 1,000.00 | $ 1,030.70 | $2.87 |
Class R6 Shares | $ 1,000.00 | $1,032.00 | $1.54 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $ 1,000.00 | $1,023.64 | $1.58 |
Service Shares | $ 1,000.00 | $1,022.38 | $2.85 |
Class R6 Shares | $ 1,000.00 | $1,023.69 | $1.53 |
Institutional Shares | 0.31% |
Service Shares | 0.56% |
Class R6 Shares | 0.30% |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held and Previous Position(s) |
J. Christopher Donahue* Birth Date: April 11, 1949 President and Trustee Indefinite Term Began serving: January 1990 | Principal Occupations: Principal Executive Officer and President of certain of the Funds in the Federated Hermes Fund Family; Director or Trustee of the Funds in the Federated Hermes Fund Family; President, Chief Executive Officer and Director, Federated Hermes, Inc.; Chairman and Trustee, Federated Investment Management Company; Trustee, Federated Investment Counseling; Chairman and Director, Federated Global Investment Management Corp.; Chairman and Trustee, Federated Equity Management Company of Pennsylvania; Trustee, Federated Shareholder Services Company; Director, Federated Services Company. Previous Positions: President, Federated Investment Counseling; President and Chief Executive Officer, Federated Investment Management Company, Federated Global Investment Management Corp. and Passport Research, Ltd; Chairman, Passport Research, Ltd. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held and Previous Position(s) |
John B. Fisher* Birth Date: May 16, 1956 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Principal Executive Officer and President of certain of the Funds in the Federated Hermes Fund Family; Director or Trustee of certain of the Funds in the Federated Hermes Fund Family; Vice President, Federated Hermes, Inc.; President, Director/Trustee and CEO, Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company; President of some of the Funds in the Federated Hermes Fund Family and Director, Federated Investors Trust Company. Previous Positions: President and Director of the Institutional Sales Division of Federated Securities Corp.; President and Director of Federated Investment Counseling; President and CEO of Passport Research, Ltd.; Director, Edgewood Securities Corp.; Director, Federated Services Company; Director, Federated Hermes, Inc.; Chairman and Director, Southpointe Distribution Services, Inc. and President, Technology, Federated Services Company. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: October 2013 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: October 2013 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant; Retired; formerly, Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh and Executive Vice President and Chief Legal Officer, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Address Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Address Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Stephen F. Auth Birth Date: September 13, 1956 101 Park Avenue 41st Floor New York, NY 10178 CHIEF INVESTMENT OFFICER Officer since: November 2002 | Principal Occupations: Stephen F. Auth is Chief Investment Officer of various Funds in the Federated Hermes Fund Family; Executive Vice President, Federated Investment Counseling, Federated Global Investment Management Corp. and Federated Equity Management Company of Pennsylvania. Previous Positions: Executive Vice President, Federated Investment Management Company and Passport Research, Ltd. (investment advisory subsidiary of Federated); Senior Vice President, Global Portfolio Management Services Division; Senior Vice President, Federated Investment Management Company and Passport Research, Ltd.; Senior Managing Director and Portfolio Manager, Prudential Investments. |
Annual Evaluation of Adequacy and Effectiveness
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 31420E205
CUSIP 31420E874
Share Class | Ticker | C | MXCCX | R | FMXKX | Institutional | FISPX | Service | FMXSX |
Federated Hermes Max-Cap Index Fund
A Portfolio of Federated Hermes Index Trust
1 Year | 5 Years | 10 Years | |
Class C Shares | 39.91% | 17.32% | 14.70% |
Class R Shares | 41.28% | 17.67% | 15.06% |
Institutional Shares | 42.34% | 18.54% | 15.91% |
Service Shares | 42.02% | 18.20% | 15.58% |
S&P 500 | 42.91% | 18.93% | 16.21% |
Sector | Percentage of Total Net Assets |
Information Technology | 27.2% |
Health Care | 12.8% |
Consumer Discretionary | 12.4% |
Financials | 11.0% |
Communication Services | 10.5% |
Industrials | 7.8% |
Consumer Staples | 5.6% |
Energy | 2.7% |
Real Estate | 2.6% |
Materials | 2.4% |
Utilities | 2.4% |
Derivative Contracts2 | 0.1% |
Securities Lending Collateral3,4 | 0.0% |
Cash Equivalents5 | 2.6% |
Other Assets and Liabilities—Net6 | (0.1)% |
TOTAL7 | 100% |
Shares | Value | ||
1 | COMMON STOCKS—97.4% | ||
Communication Services—10.5% | |||
6,752 | Activision Blizzard, Inc. | $ 527,939 | |
2,468 | 2 | Alphabet, Inc., Class A | 7,307,550 |
2,310 | 2 | Alphabet, Inc., Class C | 6,850,097 |
59,522 | AT&T, Inc. | 1,503,526 | |
997 | 2 | Charter Communications, Inc. | 672,865 |
38,004 | Comcast Corp., Class A | 1,954,546 | |
1,526 | 2,3 | Discovery, Inc., Class A | 35,769 |
1,904 | 2 | Discovery, Inc., Class C | 42,954 |
1,310 | 2 | DISH Network Corp., Class A | 53,802 |
2,556 | Electronic Arts, Inc. | 358,479 | |
19,580 | 2 | Facebook, Inc. | 6,335,500 |
2,229 | Fox Corp, Class A | 88,580 | |
1,660 | Fox Corp, Class B | 61,354 | |
7,405 | Interpublic Group of Cos., Inc. | 270,801 | |
2,865 | 2 | Live Nation Entertainment, Inc. | 289,795 |
6,288 | Lumen Technologies, Inc. | 74,576 | |
2,458 | 2 | Match Group, Inc. | 370,617 |
3,355 | 2 | Netflix, Inc. | 2,315,990 |
6,653 | News Corp., Inc., Class A | 152,354 | |
4,523 | News Corp., Inc., Class B | 102,039 | |
1,586 | Omnicom Group, Inc. | 107,975 | |
5,038 | 2 | T-Mobile USA, Inc. | 579,521 |
4,035 | 2 | Twitter, Inc. | 216,034 |
34,432 | Verizon Communications, Inc. | 1,824,552 | |
4,462 | ViacomCBS Inc., Class B | 161,614 | |
14,016 | 2 | Walt Disney Co. | 2,369,685 |
TOTAL | 34,628,514 | ||
Consumer Discretionary—12.4% | |||
581 | Advance Auto Parts, Inc. | 131,027 | |
3,518 | 2 | Amazon.com, Inc. | 11,864,209 |
2,004 | 2 | Aptiv PLC | 346,472 |
166 | 2 | AutoZone, Inc. | 296,283 |
4,498 | Bath & Body Works, Inc. | 310,767 | |
427 | Best Buy Co., Inc. | 52,196 | |
349 | 2 | Booking Holdings, Inc. | 844,852 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Consumer Discretionary—continued | |||
1,243 | BorgWarner, Inc. | $56,022 | |
1,588 | 2 | Caesars Entertainment Corp. | 173,823 |
1,285 | 2 | CarMax, Inc. | 175,942 |
214 | 2 | Chipotle Mexican Grill, Inc. | 380,712 |
947 | D. R. Horton, Inc. | 84,539 | |
859 | Darden Restaurants, Inc. | 123,816 | |
2,034 | Dollar General Corp. | 450,572 | |
1,549 | 2 | Dollar Tree, Inc. | 166,920 |
241 | Domino’s Pizza, Inc. | 117,842 | |
4,901 | eBay, Inc. | 376,005 | |
1,073 | 2 | Etsy, Inc. | 268,990 |
2,222 | 2 | Expedia Group, Inc. | 365,319 |
29,777 | 2 | Ford Motor Co. | 508,591 |
478 | Gap (The), Inc. | 10,846 | |
1,326 | Garmin Ltd. | 190,414 | |
11,271 | 2 | General Motors Co. | 613,481 |
921 | Genuine Parts Co. | 120,752 | |
1,248 | Hanesbrands, Inc. | 21,266 | |
1,373 | Hasbro, Inc. | 131,478 | |
2,514 | 2 | Hilton Worldwide Holdings, Inc. | 361,890 |
8,789 | Home Depot, Inc. | 3,267,223 | |
3,639 | 2 | Las Vegas Sands Corp. | 141,230 |
1,316 | Leggett and Platt, Inc. | 61,655 | |
2,556 | Lennar Corp., Class A | 255,421 | |
1,617 | 2 | LKQ Corp. | 89,064 |
5,037 | Lowe’s Cos., Inc. | 1,177,751 | |
2,452 | 2 | Marriott International, Inc., Class A | 392,369 |
6,236 | McDonald’s Corp. | 1,531,250 | |
2,520 | MGM Resorts International | 118,843 | |
290 | 2 | Mohawk Industries, Inc. | 51,391 |
10,256 | Nike, Inc., Class B | 1,715,726 | |
585 | 2 | O’Reilly Automotive, Inc. | 364,057 |
1,270 | 2 | Penn National Gaming, Inc. | 90,932 |
2,766 | Pulte Group, Inc. | 132,989 | |
302 | 2 | PVH Corp. | 33,018 |
122 | Ralph Lauren Corp. | 15,515 | |
4,286 | Ross Stores, Inc. | 485,175 | |
20,000 | 2 | Solo Brands, Inc. | 367,200 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Consumer Discretionary—continued | |||
10,997 | Starbucks Corp. | $1,166,452 | |
6,093 | Tapestry, Inc. | 237,505 | |
4,675 | Target Corp. | 1,213,724 | |
6,622 | 2 | Tesla, Inc. | 7,376,908 |
9,427 | TJX Cos., Inc. | 617,374 | |
787 | Tractor Supply Co. | 170,913 | |
854 | 2 | Ulta Beauty, Inc. | 313,725 |
5,172 | 2 | Under Armour, Inc., Class A | 113,577 |
5,834 | 2 | Under Armour, Inc., Class C | 110,146 |
2,288 | V.F. Corp. | 166,749 | |
367 | Whirlpool Corp. | 77,375 | |
1,090 | 2 | Wynn Resorts Ltd. | 97,882 |
3,631 | Yum! Brands, Inc. | 453,657 | |
TOTAL | 40,951,822 | ||
Consumer Staples—5.6% | |||
11,902 | Altria Group, Inc. | 524,997 | |
4,082 | Archer-Daniels-Midland Co. | 262,228 | |
1,933 | Brown-Forman Corp., Class B | 131,231 | |
2,374 | Campbell Soup Co. | 94,841 | |
2,380 | Church and Dwight, Inc. | 207,917 | |
1,191 | Clorox Co. | 194,145 | |
7,305 | Colgate-Palmolive Co. | 556,568 | |
1,374 | Constellation Brands, Inc., Class A | 297,897 | |
3,683 | Costco Wholesale Corp. | 1,810,342 | |
1,897 | Estee Lauder Cos., Inc., Class A | 615,254 | |
5,487 | General Mills, Inc. | 339,097 | |
1,366 | Hershey Foods Corp. | 239,528 | |
3,047 | Hormel Foods Corp. | 128,949 | |
2,579 | Kellogg Co. | 158,093 | |
2,983 | Kimberly-Clark Corp. | 386,269 | |
4,654 | Kraft Heinz Co./The | 167,032 | |
4,802 | Kroger Co. | 192,176 | |
1,151 | Lamb Weston Holdings, Inc. | 64,974 | |
236 | McCormick & Co., Inc. | 18,934 | |
4,887 | Molson Coors Beverage Company, Class B | 215,468 | |
8,877 | Mondelez International, Inc. | 539,189 | |
2,794 | 2 | Monster Beverage Corp. | 237,490 |
11,504 | PepsiCo, Inc. | 1,859,046 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Consumer Staples—continued | |||
14,256 | Philip Morris International, Inc. | $1,347,762 | |
20,069 | Procter & Gamble Co. | 2,869,666 | |
929 | Smucker (J.M.) Co. | 114,137 | |
3,780 | Sysco Corp. | 290,682 | |
34,578 | The Coca-Cola Co. | 1,949,162 | |
4,458 | Tyson Foods, Inc., Class A | 356,506 | |
4,800 | 2 | Vita Coco Co., Inc./The | 64,800 |
5,599 | Walgreens Boots Alliance, Inc. | 263,265 | |
11,902 | WalMart Inc. | 1,778,397 | |
TOTAL | 18,276,042 | ||
Energy—2.7% | |||
9,338 | APA Corp. | 244,749 | |
6,410 | Baker Hughes a GE Co. LLC | 160,763 | |
15,892 | Chevron Corp. | 1,819,475 | |
10,428 | ConocoPhillips | 776,782 | |
5,284 | Coterra Energy, Inc., Class A | 112,655 | |
4,126 | Devon Energy Corp. | 165,370 | |
3,006 | Diamondback Energy, Inc. | 322,213 | |
4,356 | EOG Resources, Inc. | 402,756 | |
35,182 | Exxon Mobil Corp. | 2,268,183 | |
5,776 | Halliburton Co. | 144,342 | |
1,824 | Hess Corp. | 150,608 | |
6,340 | Kinder Morgan, Inc. | 106,195 | |
16,240 | Marathon Oil Corp. | 265,037 | |
5,245 | Marathon Petroleum Corp. | 345,803 | |
11,847 | Occidental Petroleum Corp. | 397,230 | |
3,649 | ONEOK, Inc. | 232,149 | |
4,054 | Phillips 66 | 303,158 | |
1,658 | Pioneer Natural Resources, Inc. | 310,013 | |
6,061 | Schlumberger Ltd. | 195,528 | |
1,404 | Valero Energy Corp. | 108,571 | |
3,830 | Williams Cos., Inc. | 107,585 | |
TOTAL | 8,939,165 | ||
Financials—11.0% | |||
7,891 | Aflac, Inc. | 423,510 | |
3,599 | Allstate Corp. | 445,088 | |
5,153 | American Express Co. | 895,488 | |
6,424 | American International Group, Inc. | 379,594 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Financials—continued | |||
816 | Ameriprise Financial, Inc. | $246,538 | |
1,315 | Aon PLC | 420,695 | |
404 | Assurant, Inc. | 65,169 | |
60,384 | Bank of America Corp. | 2,885,148 | |
5,891 | Bank of New York Mellon Corp. | 348,747 | |
1,577 | Berkley, W. R. Corp. | 125,529 | |
15,720 | 2 | Berkshire Hathaway, Inc., Class B | 4,511,797 |
1,205 | BlackRock, Inc. | 1,136,869 | |
2,452 | Brown & Brown | 154,746 | |
4,618 | Capital One Financial Corp. | 697,457 | |
1,123 | Cboe Global Markets, Inc. | 148,169 | |
10,086 | Charles Schwab Corp. | 827,355 | |
3,488 | Chubb Ltd. | 681,485 | |
1,124 | Cincinnati Financial Corp. | 136,499 | |
18,794 | Citigroup, Inc. | 1,299,793 | |
2,775 | Citizens Financial Group, Inc. | 131,480 | |
3,102 | CME Group, Inc. | 684,146 | |
675 | Comerica, Inc. | 57,436 | |
2,200 | Discover Financial Services | 249,304 | |
203 | Everest Re Group Ltd. | 53,085 | |
4,881 | Fifth Third Bancorp | 212,470 | |
670 | First Republic Bank | 144,941 | |
1,323 | Franklin Resources, Inc. | 41,661 | |
655 | Gallagher (Arthur J.) & Co. | 109,824 | |
904 | Globe Life, Inc. | 80,474 | |
3,148 | Goldman Sachs Group, Inc. | 1,301,226 | |
1,766 | Huntington Bancshares, Inc. | 27,797 | |
3,301 | Intercontinental Exchange, Inc. | 457,056 | |
9,027 | Invesco Ltd. | 229,376 | |
25,421 | JPMorgan Chase & Co. | 4,318,774 | |
6,336 | KeyCorp | 147,439 | |
979 | Lincoln National Corp. | 70,635 | |
4,555 | Loews Corp. | 255,399 | |
1,038 | M & T Bank Corp. | 152,711 | |
3,163 | Marsh & McLennan Cos., Inc. | 527,588 | |
5,458 | MetLife, Inc. | 342,762 | |
1,407 | Moody’s Corp. | 568,639 | |
11,635 | Morgan Stanley | 1,195,845 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Financials—continued | |||
717 | MSCI, Inc., Class A | $476,719 | |
969 | NASDAQ, Inc. | 203,364 | |
1,884 | Northern Trust Corp. | 231,807 | |
5,236 | People’s United Financial, Inc. | 89,745 | |
3,313 | PNC Financial Services Group | 699,142 | |
1,569 | Principal Financial Group, Inc. | 105,264 | |
5,120 | Progressive Corp., OH | 485,786 | |
4,661 | Prudential Financial, Inc. | 512,943 | |
1,168 | Raymond James Financial, Inc. | 115,153 | |
15,629 | Regions Financial Corp. | 370,095 | |
1,629 | S&P Global, Inc. | 772,407 | |
2,453 | State Street Corp. | 241,743 | |
270 | 2 | SVB Financial Group | 193,698 |
4,022 | Synchrony Financial | 186,822 | |
1,772 | T. Rowe Price Group, Inc. | 384,311 | |
2,567 | The Hartford Financial Services Group, Inc. | 187,211 | |
2,239 | The Travelers Cos., Inc. | 360,210 | |
11,144 | Truist Financial Corp. | 707,310 | |
11,578 | U.S. Bancorp | 698,964 | |
32,915 | Wells Fargo & Co. | 1,683,931 | |
392 | Willis Towers Watson PLC | 94,974 | |
788 | Zions Bancorporation, N.A. | 49,636 | |
TOTAL | 36,040,979 | ||
Health Care—12.8% | |||
14,743 | Abbott Laboratories | 1,900,225 | |
15,889 | AbbVie, Inc. | 1,821,992 | |
381 | 2 | Abiomed, Inc. | 126,507 |
2,303 | Agilent Technologies, Inc. | 362,700 | |
558 | 2 | Align Technology, Inc. | 348,398 |
2,473 | AmerisourceBergen Corp. | 301,755 | |
4,787 | Amgen, Inc. | 990,765 | |
2,077 | Anthem, Inc. | 903,765 | |
2,222 | 2 | Aura Biosciences, Inc. | 32,886 |
4,462 | Baxter International, Inc. | 352,320 | |
2,467 | Becton Dickinson & Co. | 591,069 | |
292 | Bio-Techne Corp. | 152,906 | |
1,157 | 2 | Biogen, Inc. | 308,549 |
11,821 | 2 | Boston Scientific Corp. | 509,840 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Health Care—continued | |||
20,709 | Bristol-Myers Squibb Co. | $1,209,406 | |
270 | 2 | Catalent, Inc. | 37,222 |
5,273 | 2 | Centene Corp. | 375,649 |
2,837 | Cerner Corp. | 210,761 | |
341 | 2 | Charles River Laboratories International, Inc. | 153,000 |
2,027 | CIGNA Corp. | 432,988 | |
333 | Cooper Cos., Inc. | 138,834 | |
10,429 | CVS Health Corp. | 931,101 | |
5,151 | Danaher Corp. | 1,605,927 | |
293 | 2 | Davita, Inc. | 30,249 |
1,470 | Dentsply Sirona, Inc. | 84,099 | |
517 | 2 | Dexcom, Inc. | 322,200 |
5,125 | 2 | Edwards Lifesciences Corp. | 614,078 |
6,359 | Eli Lilly & Co. | 1,620,019 | |
10,690 | Gilead Sciences, Inc. | 693,567 | |
1,423 | HCA Healthcare, Inc. | 356,405 | |
1,184 | 2 | Henry Schein, Inc. | 90,398 |
4,085 | 2 | Hologic, Inc. | 299,471 |
662 | Humana, Inc. | 306,612 | |
930 | 2 | IDEXX Laboratories, Inc. | 619,510 |
1,186 | 2 | Illumina, Inc. | 492,261 |
1,949 | 2 | Incyte Genomics, Inc. | 130,544 |
3,369 | 2 | Intuitive Surgical, Inc. | 1,216,647 |
1,510 | 2 | IQVIA Holdings, Inc. | 394,744 |
21,719 | Johnson & Johnson | 3,537,591 | |
1,314 | 2 | Laboratory Corp. of America Holdings | 377,144 |
1,260 | McKesson Corp. | 261,929 | |
11,229 | Medtronic PLC | 1,345,908 | |
18,548 | Merck & Co., Inc. | 1,633,151 | |
169 | 2 | Mettler-Toledo International, Inc. | 250,269 |
12,889 | 2 | Minerva Surgical, Inc. | 120,641 |
3,224 | 2 | Moderna, Inc. | 1,112,957 |
1,154 | Organon & Co. | 42,410 | |
1,600 | 2 | Paragon 28, Inc. | 33,664 |
798 | PerkinElmer, Inc. | 141,158 | |
49,346 | Pfizer, Inc. | 2,158,394 | |
2,000 | Quest Diagnostics, Inc. | 293,560 | |
907 | 2 | Regeneron Pharmaceuticals, Inc. | 580,426 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Health Care—continued | |||
1,140 | ResMed, Inc. | $299,717 | |
11,111 | 2 | Sonendo, Inc. | 102,221 |
960 | STERIS PLC | 224,390 | |
2,857 | Stryker Corp. | 760,162 | |
463 | Teleflex, Inc. | 165,263 | |
3,273 | Thermo Fisher Scientific, Inc. | 2,072,038 | |
7,786 | UnitedHealth Group, Inc. | 3,585,219 | |
2,288 | 2 | Vertex Pharmaceuticals, Inc. | 423,120 |
21,226 | Viatris, Inc. | 283,367 | |
424 | 2 | Waters Corp. | 155,841 |
264 | West Pharmaceutical Services, Inc. | 113,488 | |
1,920 | Zimmer Biomet Holdings, Inc. | 274,790 | |
3,111 | Zoetis, Inc. | 672,598 | |
TOTAL | 42,090,785 | ||
Industrials—7.8% | |||
4,903 | 3M Co. | 876,068 | |
3,746 | 2 | Alaska Air Group, Inc. | 197,789 |
1,833 | Allegion PLC | 235,174 | |
6,323 | 2 | American Airlines Group, Inc. | 121,402 |
1,980 | Ametek, Inc. | 262,152 | |
3,779 | 2 | Boeing Co. | 782,366 |
4,279 | Carrier Global Corp. | 223,492 | |
4,365 | Caterpillar, Inc. | 890,504 | |
638 | Cintas Corp. | 276,318 | |
2,761 | 2 | Copart, Inc. | 428,756 |
18,232 | CSX Corp. | 659,451 | |
1,039 | Cummins, Inc. | 249,194 | |
2,758 | Deere & Co. | 944,091 | |
1,376 | 2 | Delta Air Lines, Inc. | 53,843 |
988 | Dover Corp. | 167,051 | |
3,065 | Eaton Corp. PLC | 504,989 | |
6,460 | Emerson Electric Co. | 626,685 | |
883 | Equifax, Inc. | 244,971 | |
1,634 | Expeditors International Washington, Inc. | 201,407 | |
5,281 | Fastenal Co. | 301,439 | |
1,892 | FedEx Corp. | 445,623 | |
2,702 | Fortive Corp. | 204,568 | |
446 | 2 | Generac Holdings, Inc. | 222,358 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Industrials—continued | |||
2,057 | General Dynamics Corp. | $417,057 | |
8,671 | General Electric Co. | 909,328 | |
4,940 | Honeywell International, Inc. | 1,079,983 | |
2,170 | Howmet Aerospace, Inc. | 64,427 | |
507 | Hunt (J.B.) Transportation Services, Inc. | 99,975 | |
1,124 | Huntington Ingalls Industries, Inc. | 227,869 | |
764 | IDEX Corp. | 170,043 | |
3,511 | IHS Markit Ltd. | 458,958 | |
2,487 | Illinois Tool Works, Inc. | 566,713 | |
2,745 | 2 | Ingersoll-Rand, Inc. | 147,571 |
991 | Jacobs Engineering Group, Inc. | 139,156 | |
5,413 | Johnson Controls International PLC | 397,152 | |
1,298 | Kansas City Southern Industries, Inc. | 402,704 | |
1,784 | L3Harris Technologies Inc. | 411,283 | |
1,561 | Lockheed Martin Corp. | 518,752 | |
2,555 | Masco Corp. | 167,480 | |
10,663 | Nielsen Holdings PLC | 215,926 | |
1,968 | Norfolk Southern Corp. | 576,722 | |
787 | Northrop Grumman Corp. | 281,132 | |
690 | Old Dominion Freight Lines, Inc. | 235,532 | |
5,250 | Otis Worldwide Corp. | 421,627 | |
3,216 | PACCAR, Inc. | 288,218 | |
1,591 | Parker-Hannifin Corp. | 471,875 | |
956 | Pentair PLC | 70,715 | |
873 | Quanta Services, Inc. | 105,877 | |
10,486 | Raytheon Technologies Corp. | 931,786 | |
1,969 | Republic Services, Inc. | 265,027 | |
614 | Robert Half International, Inc. | 69,425 | |
459 | Rockwell Automation, Inc. | 146,605 | |
928 | Roper Technologies, Inc. | 452,743 | |
1,555 | Smith (A.O.) Corp. | 113,624 | |
300 | Snap-On, Inc. | 60,969 | |
4,735 | 2 | Southwest Airlines Co. | 223,871 |
1,168 | Stanley Black & Decker Inc. | 209,925 | |
4,094 | Textron Inc. | 302,342 | |
2,111 | Trane Technologies plc | 381,943 | |
470 | 2 | Transdigm Group, Inc. | 293,195 |
5,486 | Union Pacific Corp. | 1,324,320 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Industrials—continued | |||
2,188 | 2 | United Airlines Holdings, Inc. | $100,954 |
6,117 | United Parcel Service, Inc. | 1,305,796 | |
1,040 | 2 | United Rentals, Inc. | 394,274 |
1,473 | Verisk Analytics, Inc. | 309,728 | |
314 | W.W. Grainger, Inc. | 145,417 | |
1,196 | Wabtec Corp. | 108,513 | |
3,370 | Waste Management, Inc. | 539,975 | |
1,240 | Xylem, Inc. | 161,932 | |
TOTAL | 25,808,130 | ||
Information Technology—27.2% | |||
5,640 | Accenture PLC | 2,023,576 | |
3,910 | 2 | Adobe, Inc. | 2,542,908 |
8,460 | 2 | Advanced Micro Devices, Inc. | 1,017,146 |
1,608 | 2 | Akamai Technologies, Inc. | 169,580 |
2,863 | Amphenol Corp., Class A | 219,792 | |
4,579 | Analog Devices, Inc. | 794,411 | |
797 | 2 | Ansys, Inc. | 302,525 |
128,627 | Apple, Inc. | 19,268,325 | |
8,552 | Applied Materials, Inc. | 1,168,631 | |
446 | 2 | Arista Networks, Inc. | 182,722 |
4,800 | 2 | Arteris, Inc. | 107,280 |
1,693 | 2 | Autodesk, Inc. | 537,714 |
3,304 | Automatic Data Processing, Inc. | 741,715 | |
250 | 2 | AvidXchange Holdings, Inc. | 5,557 |
3,417 | Broadcom, Inc. | 1,816,716 | |
917 | Broadridge Financial Solutions | 163,602 | |
2,149 | 2 | Cadence Design Systems, Inc. | 372,013 |
326 | CDW Corp. | 60,848 | |
819 | 2 | Ceridian HCM Holding, Inc. | 102,580 |
35,009 | Cisco Systems, Inc. | 1,959,454 | |
1,296 | Citrix Systems, Inc. | 122,770 | |
3,922 | Cognizant Technology Solutions Corp. | 306,269 | |
7,086 | Corning, Inc. | 252,049 | |
1,064 | 2 | Enphase Energy, Inc. | 246,454 |
356 | 2 | F5 Networks, Inc. | 75,169 |
5,300 | Fidelity National Information Services, Inc. | 586,922 | |
5,160 | 2 | Fiserv, Inc. | 508,208 |
647 | 2 | FleetCor Technologies Inc. | 160,074 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Information Technology—continued | |||
1,619 | 2 | Fortinet Inc. | $544,534 |
1,175 | 2 | Gartner, Inc., Class A | 389,994 |
2,592 | Global Payments, Inc. | 370,630 | |
789 | Henry Jack & Associates, Inc. | 131,353 | |
8,409 | Hewlett Packard Enterprise Co. | 123,192 | |
8,876 | HP, Inc. | 269,209 | |
7,103 | IBM Corp. | 888,585 | |
33,748 | Intel Corp. | 1,653,652 | |
2,506 | Intuit, Inc. | 1,568,731 | |
1,553 | Juniper Networks, Inc. | 45,844 | |
2,370 | 2 | Keysight Technologies, Inc. | 426,647 |
1,249 | KLA Corp. | 465,577 | |
1,115 | Lam Research Corp. | 628,380 | |
7,215 | Mastercard, Inc. | 2,420,777 | |
4,808 | Microchip Technology, Inc. | 356,225 | |
9,623 | Micron Technology, Inc. | 664,949 | |
60,955 | Microsoft Corp. | 20,213,897 | |
343 | Monolithic Power Systems | 180,233 | |
1,257 | Motorola, Inc. | 312,478 | |
3,501 | NetApp, Inc. | 312,639 | |
3,557 | NortonLifeLock, Inc. | 90,526 | |
19,684 | NVIDIA Corp. | 5,032,608 | |
2,023 | NXP Semiconductors NV | 406,340 | |
11,694 | Oracle Corp. | 1,121,922 | |
1,200 | Paychex, Inc. | 147,936 | |
715 | 2 | Paycom Software, Inc. | 391,713 |
9,062 | 2 | PayPal Holdings, Inc. | 2,107,731 |
617 | 2 | PTC, Inc. | 78,575 |
1,770 | 2 | Qorvo, Inc. | 297,767 |
10,347 | Qualcomm, Inc. | 1,376,565 | |
8,065 | 2 | Salesforce.com, Inc. | 2,417,000 |
1,384 | Seagate Technology Holdings PLC | 123,273 | |
1,668 | 2 | ServiceNow, Inc. | 1,163,864 |
483 | Skyworks Solutions, Inc. | 80,724 | |
1,711 | 2 | Synopsys, Inc. | 570,071 |
1,603 | TE Connectivity Ltd. | 234,038 | |
409 | 2 | Teledyne Technologies, Inc. | 183,731 |
1,335 | Teradyne, Inc. | 184,550 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Information Technology—continued | |||
6,762 | Texas Instruments, Inc. | $1,267,740 | |
1,799 | 2 | Trimble, Inc. | 157,179 |
283 | 2 | Tyler Technologies, Inc. | 153,731 |
106 | 2 | Verisign, Inc. | 23,603 |
13,941 | Visa, Inc., Class A | 2,952,286 | |
5,169 | 2 | Western Digital Corp. | 270,287 |
3,096 | Western Union Co. | 56,409 | |
2,221 | Xilinx, Inc. | 399,780 | |
702 | 2 | Zebra Technologies Corp., Class A | 374,833 |
TOTAL | 89,447,318 | ||
Materials—2.4% | |||
1,927 | Air Products & Chemicals, Inc. | 577,734 | |
1,628 | Albemarle Corp. | 407,765 | |
1,379 | Avery Dennison Corp. | 300,236 | |
998 | Ball Corp. | 91,297 | |
1,126 | CF Industries Holdings, Inc. | 63,957 | |
5,360 | Corteva, Inc. | 231,284 | |
5,578 | Dow, Inc | 312,201 | |
3,839 | DuPont de Nemours, Inc. | 267,194 | |
815 | Eastman Chemical Co. | 84,784 | |
1,342 | Ecolab, Inc. | 298,219 | |
16,531 | Freeport-McMoRan, Inc. | 623,549 | |
2,070 | International Flavors & Fragrances, Inc. | 305,222 | |
2,660 | International Paper Co. | 132,122 | |
4,323 | Linde PLC | 1,379,902 | |
3,815 | LyondellBasell Industries N.V. | 354,108 | |
423 | Martin Marietta Materials | 166,171 | |
1,908 | Mosaic Co./The | 79,316 | |
5,976 | Newmont Corp. | 322,704 | |
2,120 | Nucor Corp. | 236,698 | |
868 | Packaging Corp. of America | 119,237 | |
2,149 | PPG Industries, Inc. | 345,065 | |
689 | Sealed Air Corp. | 40,871 | |
2,085 | Sherwin-Williams Co. | 660,132 | |
905 | Vulcan Materials Co. | 172,059 | |
5,248 | WestRock Co. | 252,429 | |
TOTAL | 7,824,256 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Real Estate—2.6% | |||
351 | Alexandria Real Estate Equities, Inc. | $71,653 | |
3,200 | American Tower Corp. | 902,304 | |
1,080 | Avalonbay Communities, Inc. | 255,614 | |
1,047 | Boston Properties, Inc. | 118,981 | |
4,341 | 2 | CBRE Group, Inc. | 451,811 |
3,699 | Crown Castle International Corp. | 666,930 | |
2,510 | Digital Realty Trust, Inc. | 396,103 | |
3,708 | Duke Realty Corp. | 208,538 | |
552 | Equinix, Inc. | 462,063 | |
3,167 | Equity Residential Properties Trust | 273,629 | |
570 | Essex Property Trust, Inc. | 193,760 | |
1,135 | Extra Space Storage, Inc. | 224,015 | |
315 | Federal Realty Investment Trust | 37,910 | |
5,287 | Healthpeak Properties, Inc. | 187,741 | |
1,676 | Iron Mountain, Inc. | 76,493 | |
12,046 | Kimco Realty Corp. | 272,240 | |
1,061 | Mid-American Apartment Communities, Inc. | 216,667 | |
6,280 | ProLogis Inc. | 910,349 | |
1,736 | Public Storage | 576,664 | |
2,324 | Realty Income Corp. | 166,003 | |
802 | Regency Centers Corp. | 56,469 | |
1,333 | SBA Communications, Corp. | 460,325 | |
2,454 | Simon Property Group, Inc. | 359,707 | |
2,860 | UDR, Inc. | 158,816 | |
2,573 | Ventas, Inc. | 137,321 | |
5,030 | Vornado Realty Trust L.P. | 214,429 | |
1,689 | Welltower, Inc. | 135,796 | |
6,050 | Weyerhaeuser Co. | 216,106 | |
TOTAL | 8,408,437 | ||
Utilities—2.4% | |||
11,841 | AES Corp. | 297,564 | |
2,207 | Alliant Energy Corp. | 124,850 | |
279 | Ameren Corp. | 23,517 | |
4,452 | American Electric Power Co., Inc. | 377,129 | |
1,314 | American Water Works Co., Inc. | 228,873 | |
2,321 | CMS Energy Corp. | 140,072 | |
3,312 | Consolidated Edison Co. | 249,725 | |
7,027 | Dominion Energy, Inc. | 533,560 |
Shares | Value | ||
1 | COMMON STOCKS—continued | ||
Utilities—continued | |||
2,905 | DTE Energy Co. | $329,282 | |
7,823 | Duke Energy Corp. | 798,024 | |
409 | Edison International | 25,738 | |
263 | Entergy Corp. | 27,094 | |
1,395 | Evergy, Inc. | 88,931 | |
3,176 | EverSource Energy | 269,643 | |
7,379 | Exelon Corp. | 392,489 | |
8,610 | FirstEnergy Corp. | 331,743 | |
16,414 | NextEra Energy, Inc. | 1,400,607 | |
1,919 | NiSource, Inc. | 47,342 | |
1,280 | NRG Energy, Inc. | 51,059 | |
585 | Pinnacle West Capital Corp. | 37,727 | |
11,627 | PPL Corp. | 334,858 | |
3,933 | Public Service Enterprises Group, Inc. | 250,925 | |
2,598 | Sempra Energy | 331,583 | |
9,135 | Southern Co. | 569,293 | |
2,919 | WEC Energy Group, Inc. | 262,885 | |
4,881 | Xcel Energy, Inc. | 315,264 | |
TOTAL | 7,839,777 | ||
TOTAL COMMON STOCKS (IDENTIFIED COST $77,937,806) | 320,255,225 | ||
INVESTMENT COMPANIES—2.6% | |||
35,250 | Federated Hermes Government Obligations Fund, Premier Shares, 0.01%4 | 35,250 | |
8,619,739 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 0.02%4 | 8,622,325 | |
TOTAL INVESTMENT COMPANIES (IDENTIFIED COST $8,655,830) | 8,657,575 | ||
TOTAL INVESTMENT IN SECURITIES—100.0% (IDENTIFIED COST $86,593,636)5 | 328,912,800 | ||
OTHER ASSETS AND LIABILITIES - NET—0.0%6 | 9,895 | ||
TOTAL NET ASSETS—100% | $328,922,695 |
Description | Number of Contracts | Notional Value | Expiration Date | Value and Unrealized Appreciation |
Long Futures: | ||||
2S&P 500 E-Mini Index | 38 | $8,734,300 | December 2021 | $234,434 |
Federated Hermes Government Obligations Fund, Premier Shares* | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | Total Affiliated Transactions | |
Value as of 10/31/2020 | $— | $4,231,867 | $4,231,867 |
Purchases at Cost | $647,989 | $46,903,652 | $47,551,641 |
Proceeds from Sales | $(612,739) | $(42,513,088) | $(43,125,827) |
Change in Unrealized Appreciation/Depreciation | $— | $975 | $975 |
Net Realized Gain/(Loss) | $— | $(1,081) | $(1,081) |
Value as of 10/31/2021 | $ 35,250 | $8,622,325 | $8,657,575 |
Shares Held as of 10/31/2021 | 35,250 | 8,619,739 | 8,654,989 |
Dividend Income | $4 | $4,550 | $4,554 |
Year Ended October 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $9.21 | $9.91 | $12.74 | $15.09 | $14.54 |
Income From Investment Operations: | |||||
Net investment income | 0.001,2 | 0.041 | 0.061 | 0.061 | 0.09 |
Net realized and unrealized gain | 3.28 | 0.68 | 1.03 | 0.75 | 2.75 |
TOTAL FROM INVESTMENT OPERATIONS | 3.28 | 0.72 | 1.09 | 0.81 | 2.84 |
Less Distributions: | |||||
Distributions from net investment income | (0.02) | (0.05) | (0.06) | (0.07) | (0.09) |
Distributions from net realized gain | (1.99) | (1.37) | (3.86) | (3.09) | (2.20) |
TOTAL DISTRIBUTIONS | (2.01) | (1.42) | (3.92) | (3.16) | (2.29) |
Net Asset Value, End of Period | $10.48 | $9.21 | $9.91 | $12.74 | $15.09 |
Total Return3 | 40.91% | 8.04% | 12.59% | 6.09% | 22.22% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 1.41% | 1.42%5 | 1.41% | 1.41% | 1.42% |
Net investment income | 0.03% | 0.46% | 0.61% | 0.48% | 0.60% |
Expense waiver/reimbursement6 | 0.10% | 0.12% | 0.10% | 0.06% | 0.05% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $35,915 | $30,451 | $35,742 | $37,324 | $41,904 |
Portfolio turnover7 | 33% | 29% | 32% | 30% | 31% |
Year Ended October 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $9.44 | $10.12 | $12.92 | $15.27 | $14.68 |
Income From Investment Operations: | |||||
Net investment income | 0.031 | 0.071 | 0.091 | 0.101 | 0.12 |
Net realized and unrealized gain | 3.37 | 0.70 | 1.06 | 0.74 | 2.80 |
TOTAL FROM INVESTMENT OPERATIONS | 3.40 | 0.77 | 1.15 | 0.84 | 2.92 |
Less Distributions: | |||||
Distributions from net investment income | (0.04) | (0.08) | (0.09) | (0.10) | (0.13) |
Distributions from net realized gain | (1.99) | (1.37) | (3.86) | (3.09) | (2.20) |
TOTAL DISTRIBUTIONS | (2.03) | (1.45) | (3.95) | (3.19) | (2.33) |
Net Asset Value, End of Period | $10.81 | $9.44 | $10.12 | $12.92 | $15.27 |
Total Return2 | 41.28% | 8.39% | 13.00% | 6.31% | 22.65% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 1.10% | 1.11%4 | 1.08% | 1.11% | 1.11% |
Net investment income | 0.34% | 0.75% | 0.94% | 0.79% | 0.92% |
Expense waiver/reimbursement5 | 0.10% | 0.12% | 0.11% | 0.07% | 0.07% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $42,899 | $35,879 | $38,142 | $41,765 | $47,867 |
Portfolio turnover6 | 33% | 29% | 32% | 30% | 31% |
Year Ended October 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $9.64 | $10.31 | $13.09 | $15.42 | $14.80 |
Income From Investment Operations: | |||||
Net investment income | 0.111 | 0.141 | 0.161 | 0.211 | 0.25 |
Net realized and unrealized gain | 3.45 | 0.70 | 1.08 | 0.75 | 2.80 |
TOTAL FROM INVESTMENT OPERATIONS | 3.56 | 0.84 | 1.24 | 0.96 | 3.05 |
Less Distributions: | |||||
Distributions from net investment income | (0.11) | (0.14) | (0.16) | (0.20) | (0.23) |
Distributions from net realized gain | (1.99) | (1.37) | (3.86) | (3.09) | (2.20) |
TOTAL DISTRIBUTIONS | (2.10) | (1.51) | (4.02) | (3.29) | (2.43) |
Net Asset Value, End of Period | $11.10 | $9.64 | $10.31 | $13.09 | $15.42 |
Total Return2 | 42.34% | 9.16% | 13.76% | 7.16% | 23.55% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.36% | 0.36%4 | 0.36% | 0.36% | 0.36% |
Net investment income | 1.07% | 1.50% | 1.66% | 1.56% | 1.67% |
Expense waiver/reimbursement5 | 0.14% | 0.16% | 0.13% | 0.11% | 0.08% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $159,314 | $119,545 | $133,835 | $137,792 | $201,836 |
Portfolio turnover6 | 33% | 29% | 32% | 30% | 31% |
Year Ended October 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $9.46 | $10.14 | $12.94 | $15.28 | $14.69 |
Income From Investment Operations: | |||||
Net investment income | 0.081 | 0.111 | 0.131 | 0.161 | 0.17 |
Net realized and unrealized gain | 3.38 | 0.70 | 1.06 | 0.75 | 2.81 |
TOTAL FROM INVESTMENT OPERATIONS | 3.46 | 0.81 | 1.19 | 0.91 | 2.98 |
Less Distributions: | |||||
Distributions from net investment income | (0.08) | (0.12) | (0.13) | (0.16) | (0.19) |
Distributions from net realized gain | (1.99) | (1.37) | (3.86) | (3.09) | (2.20) |
TOTAL DISTRIBUTIONS | (2.07) | (1.49) | (3.99) | (3.25) | (2.39) |
Net Asset Value, End of Period | $10.85 | $9.46 | $10.14 | $12.94 | $15.28 |
Total Return2 | 42.02% | 8.87% | 13.41% | 6.85% | 23.14% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.66% | 0.66%4 | 0.66% | 0.66% | 0.66% |
Net investment income | 0.77% | 1.23% | 1.36% | 1.24% | 1.39% |
Expense waiver/reimbursement5 | 0.39% | 0.41% | 0.39% | 0.35% | 0.35% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $90,795 | $72,477 | $107,852 | $110,443 | $144,226 |
Portfolio turnover6 | 33% | 29% | 32% | 30% | 31% |
October 31, 2021
Assets: | |||
Investment in securities, at value including $33,050 of securities loaned and $8,657,575 of investment in affiliated holdings* (identified cost $86,593,636) | $328,912,800 | ||
Cash | 2,431 | ||
Due from broker | 437,000 | ||
Receivable for shares sold | 181,208 | ||
Income receivable | 238,623 | ||
Receivable for investments sold | 204,491 | ||
Income receivable from affiliated holdings | 160 | ||
Receivable for variation margin on futures contracts | 38,619 | ||
TOTAL ASSETS | 330,015,332 | ||
Liabilities: | |||
Payable for investments purchased | $636,436 | ||
Payable for shares redeemed | 169,518 | ||
Payable for collateral due to broker for securities lending | 35,250 | ||
Payable for portfolio accounting fees | 50,334 | ||
Payable for transfer agent fees (Note 2) | 48,891 | ||
Payable for distribution services fee (Note 5) | 43,821 | ||
Payable for other service fees (Notes 2 and 5) | 36,033 | ||
Payable for share registration costs (Note 5) | 20,938 | ||
Payable for management fee (Note 5) | 8,105 | ||
Accrued expenses (Note 5) | 43,311 | ||
TOTAL LIABILITIES | 1,092,637 | ||
Net assets for 30,114,700 shares outstanding | $328,922,695 | ||
Net Assets Consists of: | |||
Paid-in capital | $42,567,244 | ||
Total distributable earnings | 286,355,451 | ||
TOTAL NET ASSETS | $328,922,695 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |||
Class C Shares: | |||
Net asset value per share ($35,915,342 ÷ 3,428,440 shares outstanding) no par value, unlimited shares authorized | $10.48 | ||
Offering price per share | $10.48 | ||
Redemption proceeds per share (99.00/100 of $10.48) | $10.38 | ||
Class R Shares: | |||
Net asset value per share ($42,898,933 ÷ 3,968,184 shares outstanding) no par value, unlimited shares authorized | $10.81 | ||
Offering price per share | $10.81 | ||
Redemption proceeds per share | $10.81 | ||
Institutional Shares: | |||
Net asset value per share ($159,313,559 ÷ 14,346,876 shares outstanding) no par value, unlimited shares authorized | $11.10 | ||
Offering price per share | $11.10 | ||
Redemption proceeds per share | $11.10 | ||
Service Shares: | |||
Net asset value per share ($90,794,861 ÷ 8,371,200 shares outstanding) no par value, unlimited shares authorized | $10.85 | ||
Offering price per share | $10.85 | ||
Redemption proceeds per share | $10.85 |
Year Ended October 31, 2021
Investment Income: | |||
Dividends (including $4,550 received from an affiliated holding* and net of foreign taxes withheld of $443) | $4,365,887 | ||
Net income on securities loaned (includes $4 received from an affiliated holding* related to cash collateral balances) (Note 2) | 539 | ||
TOTAL INCOME | 4,366,426 | ||
Expenses: | |||
Management fee (Note 5) | $913,144 | ||
Custodian fees | 26,844 | ||
Transfer agent fees (Note 2) | 299,904 | ||
Directors’/Trustees’ fees (Note 5) | 5,012 | ||
Auditing fees | 25,800 | ||
Legal fees | 17,309 | ||
Distribution services fee (Note 5) | 713,895 | ||
Other service fees (Notes 2 and 5) | 292,998 | ||
Portfolio accounting fees | 143,702 | ||
Share registration costs | 68,042 | ||
Printing and postage | 26,201 | ||
Miscellaneous (Note 5) | 94,415 | ||
TOTAL EXPENSES | 2,627,266 | ||
Waivers and Reimbursements: | |||
Waiver/reimbursement of investment management fee (Note 5) | $(305,570) | ||
Waiver/reimbursement of other operating expenses (Note 2 and 5) | (302,210) | ||
TOTAL WAIVERS AND REIMBURSEMENTS | (607,780) | ||
Net expenses | 2,019,486 | ||
Net investment income | $2,346,940 |
Realized and Unrealized Gain (Loss) on Investments, Foreign Currency Transactions and Futures Contracts: | |||
Net realized gain on investments and foreign currency transactions (including realized loss of ($1,081) on sales of investments in an affiliated holding*) | 43,387,390 | ||
Net realized gain on futures contracts | 2,887,290 | ||
Net change in unrealized appreciation of investments (including net change in unrealized appreciation of $975 of investments in an affiliated holding*) | 54,315,228 | ||
Net change in unrealized depreciation of futures contracts | 320,879 | ||
Net realized and unrealized gain (loss) on investments, foreign currency transactions and futures contracts | 100,910,787 | ||
Change in net assets resulting from operations | $103,257,727 |
Year Ended October 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $2,346,940 | $3,341,446 |
Net realized gain | 46,274,680 | 55,207,983 |
Net change in unrealized appreciation/depreciation | 54,636,107 | (35,253,295) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 103,257,727 | 23,296,134 |
Distributions to Shareholders: | ||
Class C Shares | (6,400,546) | (5,045,055) |
Class R Shares | (7,714,663) | (5,432,608) |
Institutional Shares | (26,868,472) | (19,916,477) |
Service Shares | (16,127,333) | (13,487,436) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (57,111,014) | (43,881,576) |
Share Transactions: | ||
Proceeds from sale of shares | 34,150,924 | 39,077,307 |
Net asset value of shares issued to shareholders in payment of distributions declared | 55,332,652 | 42,492,427 |
Cost of shares redeemed | (65,059,295) | (118,203,823) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 24,424,281 | (36,634,089) |
Change in net assets | 70,570,994 | (57,219,531) |
Net Assets: | ||
Beginning of period | 258,351,701 | 315,571,232 |
End of period | $328,922,695 | $258,351,701 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Class C Shares | $25,449 | $— |
Class R Shares | 109,857 | (124) |
Institutional Shares | 101,976 | (56,568) |
Service Shares | 62,622 | (35,904) |
TOTAL | $299,904 | $(92,596) |
Other Service Fees Incurred | |
Class C Shares | $83,390 |
Service Shares | 209,608 |
TOTAL | $292,998 |
Market Value of Securities Loaned | Collateral Received |
$33,050 | $35,250 |
Fair Value of Derivative Instruments | ||
Liability | ||
Statement of Assets and Liabilities Location | Fair Value | |
Derivatives not accounted for as hedging instruments under ASC Topic 815 | ||
Equity contracts | Receivable for variation margin on futures contracts | $234,434* |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | |
Futures Contracts | |
Equity Contracts | $2,887,290 |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income | |
Futures Contracts | |
Equity Contracts | $320,879 |
Year Ended October 31 | 2021 | 2020 | ||
Class C Shares: | Shares | Amount | Shares | Amount |
Shares sold | 246,523 | $2,300,338 | 339,481 | $2,955,462 |
Shares issued to shareholders in payment of distributions declared | 712,742 | 6,008,783 | 543,476 | 4,770,810 |
Shares redeemed | (838,221) | (7,705,776) | (1,183,684) | (10,363,587) |
NET CHANGE RESULTING FROM CLASS C SHARE TRANSACTIONS | 121,044 | $603,345 | (300,727) | $(2,637,315) |
Year Ended October 31 | 2021 | 2020 | ||
Class R Shares: | Shares | Amount | Shares | Amount |
Shares sold | 660,773 | $6,388,992 | 1,008,505 | $8,846,131 |
Shares issued to shareholders in payment of distributions declared | 881,931 | 7,679,925 | 595,458 | 5,358,343 |
Shares redeemed | (1,376,479) | (13,315,617) | (1,571,488) | (13,847,680) |
NET CHANGE RESULTING FROM CLASS R SHARE TRANSACTIONS | 166,225 | $753,300 | 32,475 | $356,794 |
Year Ended October 31 | 2021 | 2020 | ||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,676,479 | $17,063,021 | 1,765,717 | $16,766,160 |
Shares issued to shareholders in payment of distributions declared | 2,877,498 | 25,836,124 | 2,079,777 | 19,074,736 |
Shares redeemed | (2,605,818) | (25,402,346) | (4,430,055) | (41,088,239) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 1,948,159 | $17,496,799 | (584,561) | $(5,247,343) |
Year Ended October 31 | 2021 | 2020 | ||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 857,944 | $8,398,573 | 1,170,774 | $10,509,554 |
Shares issued to shareholders in payment of distributions declared | 1,805,545 | 15,807,820 | 1,476,137 | 13,288,538 |
Shares redeemed | (1,952,638) | (18,635,556) | (5,620,962) | (52,904,317) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 710,851 | $5,570,837 | (2,974,051) | $(29,106,225) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 2,946,279 | $24,424,281 | (3,826,864) | $(36,634,089) |
2021 | 2020 | |
Ordinary income | $2,502,648 | $3,550,975 |
Long-term capital gains | $54,608,366 | $40,330,601 |
Undistributed ordinary income1 | $8,357,476 |
Net unrealized appreciation | $240,351,550 |
Undistributed long-term capital gains | $37,646,425 |
Percentage of Average Daily Net Assets of Class | |
Class C Shares | 0.75% |
Class R Shares | 0.50% |
Service Shares | 0.30% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Class C Shares | $250,823 | $— |
Class R Shares | 208,427 | — |
Service Shares | 254,645 | (209,614) |
TOTAL | $713,895 | $(209,614) |
Purchases | $97,100,397 |
Sales | $128,571,303 |
December 23, 2021
Beginning Account Value 5/1/2021 | Ending Account Value 10/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Class C Shares | $1,000 | $1,100.80 | $7.47 |
Class R Shares | $1,000 | $1,101.60 | $5.93 |
Institutional Shares | $1,000 | $1,104.90 | $1.91 |
Service Shares | $1,000 | $1,104.80 | $3.50 |
Hypothetical (assuming a 5% return before expenses): | |||
Class C Shares | $1,000 | $1,018.10 | $7.17 |
Class R Shares | $1,000 | $1,019.56 | $5.70 |
Institutional Shares | $1,000 | $1,023.39 | $1.84 |
Service Shares | $1,000 | $1,021.88 | $3.36 |
Class C Shares | 1.41% |
Class R Shares | 1.12% |
Institutional Shares | 0.36% |
Service Shares | 0.66% |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held and Previous Position(s) |
J. Christopher Donahue* Birth Date: April 11, 1949 President and Trustee Indefinite Term Began serving: January 1990 | Principal Occupations: Principal Executive Officer and President of certain of the Funds in the Federated Hermes Fund Family; Director or Trustee of the Funds in the Federated Hermes Fund Family; President, Chief Executive Officer and Director, Federated Hermes, Inc.; Chairman and Trustee, Federated Investment Management Company; Trustee, Federated Investment Counseling; Chairman and Director, Federated Global Investment Management Corp.; Chairman and Trustee, Federated Equity Management Company of Pennsylvania; Trustee, Federated Shareholder Services Company; Director, Federated Services Company. Previous Positions: President, Federated Investment Counseling; President and Chief Executive Officer, Federated Investment Management Company, Federated Global Investment Management Corp. and Passport Research, Ltd; Chairman, Passport Research, Ltd. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held and Previous Position(s) |
John B. Fisher* Birth Date: May 16, 1956 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Principal Executive Officer and President of certain of the Funds in the Federated Hermes Fund Family; Director or Trustee of certain of the Funds in the Federated Hermes Fund Family; Vice President, Federated Hermes, Inc.; President, Director/Trustee and CEO, Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company; President of some of the Funds in the Federated Hermes Fund Family and Director, Federated Investors Trust Company. Previous Positions: President and Director of the Institutional Sales Division of Federated Securities Corp.; President and Director of Federated Investment Counseling; President and CEO of Passport Research, Ltd.; Director, Edgewood Securities Corp.; Director, Federated Services Company; Director, Federated Hermes, Inc.; Chairman and Director, Southpointe Distribution Services, Inc. and President, Technology, Federated Services Company. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: October 2013 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: October 2013 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant; Retired; formerly, Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh and Executive Vice President and Chief Legal Officer, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Address Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Address Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Stephen F. Auth Birth Date: September 13, 1956 101 Park Avenue 41st Floor New York, NY 10178 CHIEF INVESTMENT OFFICER Officer since: November 2002 | Principal Occupations: Stephen F. Auth is Chief Investment Officer of various Funds in the Federated Hermes Fund Family; Executive Vice President, Federated Investment Counseling, Federated Global Investment Management Corp. and Federated Equity Management Company of Pennsylvania. Previous Positions: Executive Vice President, Federated Investment Management Company and Passport Research, Ltd. (investment advisory subsidiary of Federated); Senior Vice President, Global Portfolio Management Services Division; Senior Vice President, Federated Investment Management Company and Passport Research, Ltd.; Senior Managing Director and Portfolio Manager, Prudential Investments. |
Annual Evaluation of Adequacy and Effectiveness
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 31420E809
CUSIP 31420E106
CUSIP 31420E403
Item 2. | Code of Ethics |
(a) As of the end of the period covered by this report, the registrant has adopted a code of ethics (the "Section 406 Standards for Investment Companies - Ethical Standards for Principal Executive and Financial Officers") that applies to the registrant's Principal Executive Officer and Principal Financial Officer; the registrant's Principal Financial Officer also serves as the Principal Accounting Officer.
(c) There was no amendment to the registrant’s code of ethics described in Item 2(a) above during the period covered by the report.
(d) There was no waiver granted, either actual or implicit, from a provision to the registrant’s code of ethics described in Item 2(a) above during the period covered by the report.
(e) Not Applicable
(f)(3) The registrant hereby undertakes to provide any person, without charge, upon request, a copy of the code of ethics. To request a copy of the code of ethics, contact the registrant at 1-800-341-7400, and ask for a copy of the Section 406 Standards for Investment Companies - Ethical Standards for Principal Executive and Financial Officers.
Item 3. Audit Committee Financial Expert
The registrant's Board has determined that each of the following members of the Board's Audit Committee is an “audit committee financial expert,” and is "independent," for purposes of this Item: G. Thomas Hough and Thomas M. O'Neill.
Item 4. | Principal Accountant Fees and Services |
(a) Audit Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2021 – $51,600
Fiscal year ended 2020 - $57,600
(b) Audit-Related Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2021 - $0
Fiscal year ended 2020 - $0
Amount requiring approval of the registrant’s Audit Committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, $0 and $0 respectively.
(c) Tax Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2021 - $0
Fiscal year ended 2020 - $0
Amount requiring approval of the registrant’s Audit Committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, $0 and $0 respectively.
(d) All Other Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2021 - $0
Fiscal year ended 2020 - $0
Amount requiring approval of the registrant’s Audit Committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, $30,800 and $27,990 respectively. Fiscal year ended 2021- Service fees for analysis of potential Passive Foreign Investment Company holdings. Fiscal year ended 2020- Service fees for analysis of potential Passive Foreign Investment Company holdings.
(e)(1) Audit Committee Policies regarding Pre-approval of Services.
The Audit Committee is required to pre-approve audit and non-audit services performed by the independent auditor in order to assure that the provision of such services do not impair the auditor’s independence. Unless a type of service to be provided by the independent auditor has received general pre-approval, it will require specific pre-approval by the Audit Committee. Any proposed services exceeding pre-approved cost levels will require specific pre-approval by the Audit Committee.
Certain services have the general pre-approval of the Audit Committee. The term of the general pre-approval is 12 months from the date of pre-approval, unless the Audit Committee specifically provides for a different period. The Audit Committee will annually review the services that may be provided by the independent auditor without obtaining specific pre-approval from the Audit Committee and may grant general pre-approval for such services. The Audit Committee will revise the list of general pre-approved services from time to time, based on subsequent determinations. The Audit Committee will not delegate to management its responsibilities to pre-approve services performed by the independent auditor.
The Audit Committee has delegated pre-approval authority to its chairman (the “Chairman”) for services that do not exceed a specified dollar threshold. The Chairman or Chief Audit Executive will report any such pre-approval decisions to the Audit Committee at its next scheduled meeting. The Committee will designate another member with such pre-approval authority when the Chairman is unavailable.
AUDIT SERVICES
The annual audit services engagement terms and fees will be subject to the specific pre-approval of the Audit Committee. The Audit Committee will approve, if necessary, any changes in terms, conditions and fees resulting from changes in audit scope, registered investment company (RIC) structure or other matters.
In addition to the annual audit services engagement specifically approved by the Audit Committee, the Audit Committee may grant general pre-approval for other audit services, which are those services that only the independent auditor reasonably can provide. The Audit Committee has pre-approved certain audit services; with limited exception, all other audit services must be specifically pre-approved by the Audit Committee.
AUDIT-RELATED SERVICES
Audit-related services are assurance and related services that are reasonably related to the performance of the audit or review of the RIC’s financial statements or that are traditionally performed by the independent auditor. The Audit Committee believes that the provision of audit-related services does not impair the independence of the auditor, and has pre-approved certain audit-related services; all other audit-related services must be specifically pre-approved by the Audit Committee.
TAX SERVICES
The Audit Committee believes that the independent auditor can provide tax services to the RIC such as tax compliance, tax planning and tax advice without impairing the auditor’s independence. However, the Audit Committee will not permit the retention of the independent auditor in connection with a transaction initially recommended by the independent auditor, the purpose of which may be tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Audit Committee has pre-approved certain tax services; with limited exception, all tax services involving large and complex transactions must be specifically pre-approved by the Audit Committee.
ALL OTHER SERVICES
With respect to the provision of permissible services other than audit, review or attest services the pre-approval requirement is waived if:
(1) | With respect to such services rendered to the Funds, the aggregate amount of all such services provided constitutes no more than five percent of the total amount of revenues paid by the audit client to its accountant during the fiscal year in which the services are provided; and, |
(2) | With respect to such services rendered to the Fund’s investment adviser ( the “Adviser”)and any entity controlling, controlled by to under common control with the Adviser such as affiliated non-U.S. and U.S. funds not under the Audit Committee’s purview and which do not fall within a category of service which has been determined by the Audit Committee not to have a direct impact on the operations or financial reporting of the RIC, the aggregate amount of all services provided constitutes no more than five percent of the total amount of revenues paid to the RIC’s auditor by the RIC, its Adviser and any entity controlling, controlled by, or under common control with the Adviser during the fiscal year in which the services are provided; and |
(3) | Such services were not recognized by the issuer or RIC at the time of the engagement to be non-audit services; and |
(4) | Such services are promptly brought to the attention of the Audit Committee and approved prior to the completion of the audit by the Audit Committee or by one or more members of the Audit Committee who are members of the Board of Directors to whom authority to grant such approvals has been delegated by the Audit Committee. |
The Audit Committee may grant general pre-approval to those permissible non-audit services which qualify for pre-approval and which it believes are routine and recurring services, and would not impair the independence of the auditor.
The Securities and Exchange Commission’s (the “SEC”) rules and relevant guidance should be consulted to determine the precise definitions of these services and applicability of exceptions to certain of the prohibitions.
PRE-APPROVAL FEE LEVELS
Pre-approval fee levels for all services to be provided by the independent auditor will be established annually by the Audit Committee. Any proposed services exceeding these levels will require specific pre-approval by the Audit Committee.
PROCEDURES
Requests or applications to provide services that require specific approval by the Audit Committee will be submitted to the Audit Committee by the Fund’s Principal Accounting Officer and/or the Chief Audit Executive of Federated Hermes, Inc., only after those individuals have determined that the request or application is consistent with the SEC’s rules on auditor independence.
(e)(2) Percentage of services identified in items 4(b) through 4(d) that were approved by the registrant’s Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X:
4(b)
Fiscal year ended 2021 – 0%
Fiscal year ended 2020 - 0%
Percentage of services provided to the registrant’s Adviser and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the registrant that were approved by the registrant’s Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X, 0% and 0% respectively.
4(c)
Fiscal year ended 2021 – 0%
Fiscal year ended 2020 – 0%
Percentage of services provided to the registrant’s Adviser and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the registrant that were approved by the registrant’s Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X, 0% and 0% respectively.
4(d)
Fiscal year ended 2021 – 0%
Fiscal year ended 2020 – 0%
Percentage of services provided to the registrant’s Adviser and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the registrant that were approved by the registrant’s Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X, 0% and 0% respectively.
(f) | NA |
(g) | Non-Audit Fees billed to the registrant, the registrant’s Adviser, and certain entities controlling, controlled by or under common control with the Adviser: |
Fiscal year ended 2021 - $57,941
Fiscal year ended 2020 - $66,375
(h) | The registrant’s Audit Committee has considered that the provision of non-audit services that were rendered to the registrant’s Adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. |
Item 5. | Audit Committee of Listed Registrants |
Not Applicable
Item 6. | Schedule of Investments |
(a) The registrant’s Schedule of Investments is included as part of the Report to Stockholders filed under Item 1 of this form.
(b) Not Applicable; Fund had no divestments during the reporting period covered since the previous Form N-CSR filing.
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies |
Not Applicable
Item 8. | Portfolio Managers of Closed-End Management Investment Companies |
Not Applicable
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers |
Not Applicable
Item 10. | Submission of Matters to a Vote of Security Holders |
No Changes to Report
Item 11. | Controls and Procedures |
(a) The registrant’s President and Treasurer 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-CSR.
(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 registrant’s most recent fiscal half-year (the registrant’s second fiscal half-year in the case of an annual report) that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies |
Not Applicable
Item 13. | Exhibits |
(a)(1) Code of Ethics- Not Applicable to this Report.
(a)(2) Certifications of Principal Executive Officer and Principal Financial Officer.
(a)(3) Not Applicable.
(b) Certifications pursuant to 18 U.S.C. Section 1350.
SIGNATURES
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.
Registrant Federated Hermes Index Trust
By /S/ Lori A. Hensler
Lori A. Hensler, Principal Financial Officer
Date December 23, 2021
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.
By /S/ J. Christopher Donahue
J. Christopher Donahue, Principal Executive Officer
Date December 23, 2021
By /S/ Lori A. Hensler
Lori A. Hensler, Principal Financial Officer
Date December 23, 2021