United States
Securities and Exchange Commission
Washington, D.C. 20549
Form N-CSR
Certified Shareholder Report of Registered Management Investment Companies
811-5950
(Investment Company Act File Number)
Federated Hermes Money Market Obligations 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: 10/31/20
Date of Reporting Period: 10/31/20
Item 1. | Reports to Stockholders |
![](https://capedge.com/proxy/N-CSR/0001623632-20-002126/img7349889c1.gif)
Share Class | Ticker | Wealth | CAIXX | Service | CACXX | Cash II | CALXX |
Cash Series | CCSXX | Capital | CCCXX |
Federated Hermes California Municipal Cash Trust
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSR/0001623632-20-002126/donahuechrisphoto.jpg)
Donahue
![](https://capedge.com/proxy/N-CSR/0001623632-20-002126/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 57.2% |
Commercial Paper | 34.7% |
Municipal Notes | 8.1% |
Other Assets and Liabilities—Net2,3 | (0.0)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
3 | Represents less than 0.1%. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 54.5% |
8-30 Days | 3.0% |
31-90 Days | 27.5% |
91-180 Days | 8.9% |
181 Days or more | 6.1% |
Other Assets and Liabilities—Net2 | (0.0)% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Represents less than 0.1%. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 100.0% | ||
California— 100.0% | |||
$ 1,295,000 | ABAG Finance Authority for Non-Profit Corporations, CA (Ecology Action of Santa Cruz), (Series 2010) Weekly VRDNs, (Comerica Bank LOC), 0.150%, 11/5/2020 | $1,295,000 | |
2,710,000 | Alameda County, CA IDA (Santini Foods, Inc.), (Series 2010A) Weekly VRDNs, (Comerica Bank LOC), 0.150%, 11/5/2020 | 2,710,000 | |
335,000 | Alameda County, CA IDA Recovery Zone Facility (Dale Hardware, Inc.), (Series 2010) Weekly VRDNs, (Comerica Bank LOC), 0.150%, 11/5/2020 | 335,000 | |
2,595,000 | Alameda County, CA IDA Recovery Zone Facility (Reis Newark LLC), (Series 2010A) Weekly VRDNs, (Bank of the West, San Francisco, CA LOC), 0.150%, 11/5/2020 | 2,595,000 | |
9,960,000 | Alvord, CA USD, Tender Option Bond Trust Certificates (2016-XG0089) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Credit Suisse AG LIQ), 0.200%, 11/5/2020 | 9,960,000 | |
3,200,000 | Antelope Valley, CA CCD, Tender Option Bond Trust Receipts (Series 2020-XF0894) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.130%, 11/5/2020 | 3,200,000 | |
3,365,000 | Banning, CA USD, Tender Option Bond Trust Certificates (Series 2017-XF2440) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.170%, 11/5/2020 | 3,365,000 | |
9,000,000 | Bay Area Toll Authority, CA, Tender Option Bond Trust Receipts (Series 2017-ZM0542) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 9,000,000 | |
4,000,000 | Beaumont, CA Public Improvement Authority, Tender Option Bond Trust Certificates (Series 2018-ZF2715) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.170%, 11/5/2020 | 4,000,000 | |
3,320,000 | Calexico, CA USD, Tender Option Bond Trust Certificates (2017- XG0118) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/ (Morgan Stanley Bank, N.A. LIQ), 0.170%, 11/5/2020 | 3,320,000 | |
4,920,000 | California Education Notes Program (San Mateo, CA Union High School District), (Series A) TRANs, 4.000%, 6/30/2021 | 5,043,359 | |
1,200,000 | California Educational Facilities Authority (Stanford University), (Series S-4), CP, 0.250%, Mandatory Tender 7/20/2021 | 1,200,000 | |
6,375,000 | California Educational Facilities Authority (Stanford University), CP, 0.210%, Mandatory Tender 3/3/2021 | 6,375,000 | |
5,125,000 | California Enterprise Development Authority (Alvarado Street Bakery), (Series 2007) Weekly VRDNs, (U.S. Bank, N.A. LOC), 0.160%, 11/5/2020 | 5,125,000 | |
5,170,000 | California Enterprise Development Authority (Humane Society Silicon Valley), (Series 2008) Weekly VRDNs, (FHLB of San Francisco LOC), 0.140%, 11/5/2020 | 5,170,000 | |
3,800,000 | California Enterprise Development Authority (Regional Properties, Inc.), (Series 2010: Recovery Zone Facility) Weekly VRDNs, (FHLB of San Francisco LOC), 0.140%, 11/5/2020 | 3,800,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$52,245,000 | California Health Facilities Financing Authority (Dignity Health (Catholic Healthcare West)), Golden Blue (Series 2017-004) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.240%, 11/5/2020 | $52,245,000 | |
21,000,000 | California Health Facilities Financing Authority (Kaiser Permanente), (Series 2006D), CP, 0.250%, Mandatory Tender 1/7/2021 | 21,000,000 | |
5,000,000 | California Health Facilities Financing Authority (Kaiser Permanente), RBC Muni Products (Series G-44) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.270%, Optional Tender 11/2/2020 | 5,000,000 | |
4,180,000 | California Health Facilities Financing Authority (Lucile Salter Packard Children’s Hospital at Stanford), Tender Option Bond Trust Receipts (2016-XF0451) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 4,180,000 | |
2,295,000 | California Health Facilities Financing Authority (Providence St. Joseph Health), Tender Option Bond Trust Receipts (Series 2018-XM0696) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 2,295,000 | |
5,000,000 | California Health Facilities Financing Authority (Stanford Hospital & Clinics), (2008 Series B-2 Subseries 2), CP, 0.240%, Mandatory Tender 5/5/2021 | 5,000,000 | |
11,890,000 | California Health Facilities Financing Authority (Sutter Health), Tender Option Bond Trust Receipts (Series 2018-XF0622) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.220%, 11/5/2020 | 11,890,000 | |
3,420,000 | California Infrastructure & Economic Development Bank (Los Angeles Society for the Prevention of Cruelty to Animals), (Series 2002A) Weekly VRDNs, (Bank of New York Mellon, N.A. LOC), 0.150%, 11/5/2020 | 3,420,000 | |
9,350,000 | California Infrastructure & Economic Development Bank (St. Margaret of Scotland Episcopal School), (Series 2008) Monthly VRDNs, (FHLB of San Francisco LOC), 0.400%, 11/1/2020 | 9,350,000 | |
2,550,000 | California PCFA (Big Bear Disposal, Inc.), (Series 2010) Weekly VRDNs, (MUFG Union Bank, N.A. LOC), 0.170%, 11/4/2020 | 2,550,000 | |
11,973,000 | California State Department of Water Resources, (Series 1), CP, 0.150%, Mandatory Tender 11/19/2020 | 11,973,000 | |
5,768,000 | California State Department of Water Resources, (Series 1), CP, 0.200%, Mandatory Tender 1/20/2021 | 5,768,000 | |
5,000,000 | California State Department of Water Resources, (Series 2), CP, 0.150%, Mandatory Tender 11/19/2020 | 5,000,000 | |
6,000,000 | California State Department of Water Resources, (Series 2), CP, 0.170%, Mandatory Tender 1/5/2021 | 6,000,000 | |
10,000,000 | California State Department of Water Resources, (Series 2), CP, 0.190%, Mandatory Tender 1/13/2021 | 10,000,000 | |
8,754,000 | California State Department of Water Resources, (Series 2), CP, 0.190%, Mandatory Tender 1/8/2021 | 8,754,000 | |
10,000,000 | California State Department of Water Resources, (Series 2), CP, 0.200%, Mandatory Tender 1/20/2021 | 10,000,000 | |
18,830,000 | California State Municipal Finance Authority (Montague Parkway Associates LP), Tender Option Bond Trust Floater Certificates (2020- MIZ9041) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 0.190%, 11/5/2020 | 18,830,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 1,320,000 | California State Public Works Board (California State), (2019 Series C), 5.000%, 11/1/2020 | $1,320,000 | |
2,235,000 | California State University (The Trustees of), Tender Option Bond Trust Receipts (Series 2018-ZF0673) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 2,235,000 | |
10,000,000 | California State University Institute, (Series A), CP, (State Street Bank and Trust Co. LOC)/(Wells Fargo Bank, N.A. LOC), 0.170%, Mandatory Tender 11/4/2020 | 10,000,000 | |
4,000,000 | California State, (Series A-8), CP, (Bank of the West, San Francisco, CA LOC), 0.150%, Mandatory Tender 11/16/2020 | 4,000,000 | |
10,000,000 | California State, 2.000%, 3/1/2021 | 10,044,784 | |
2,000,000 | California State, RBC Muni Products, Inc. Trust Floater Certificates (Series G-1) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 2,000,000 | |
4,000,000 | California State, RBC Muni Products, Inc. Trust Floater Certificates (Series G-2) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 4,000,000 | |
2,220,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XF0924) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | 2,220,000 | |
2,000,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XF0933) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 2,000,000 | |
1,360,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XF0935) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 1,360,000 | |
2,000,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XF0953) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 2,000,000 | |
2,225,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XM0848) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 2,225,000 | |
3,185,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XM0849) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 3,185,000 | |
3,220,000 | California State, Tender Option Bond Trust Receipts (Series 2020-ZF0932) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 3,220,000 | |
20,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004E), CP, 0.240%, Mandatory Tender 2/2/2021 | 20,000,000 | |
10,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 0.260%, Mandatory Tender 4/7/2021 | 10,000,000 | |
10,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004K), CP, 0.240%, Mandatory Tender 3/3/2021 | 10,000,000 | |
10,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2008B), CP, 0.280%, Mandatory Tender 12/8/2020 | 10,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$13,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2008B), CP, 0.280%, Mandatory Tender 12/8/2020 | $13,000,000 | |
35,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009B-1), CP, 0.250%, Mandatory Tender 11/4/2020 | 35,000,000 | |
15,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009B-4), CP, 0.240%, Mandatory Tender 3/9/2021 | 15,000,000 | |
15,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009D), CP, 0.280%, Mandatory Tender 12/8/2020 | 15,000,000 | |
15,845,000 | California Statewide Communities Development Authority (Kaiser Permanente), Tender Option Bond Trust Receipts (Series 2015-ZF0199) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | 15,845,000 | |
6,150,000 | California Statewide Communities Development Authority (Pacific Collegiate Foundation), (Series 2016) Weekly VRDNs, (Comerica Bank LOC), 0.150%, 11/5/2020 | 6,150,000 | |
5,600,000 | California Statewide Communities Development Authority MFH (Beaumont CA Leased Housing Associates I, LP), (2010 Series B: Mountain View Apartments) Weekly VRDNs, (FHLMC LOC), 0.200%, 11/5/2020 | 5,600,000 | |
37,500,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series AA: Uptown Newport Apartments) Weekly VRDNs, (Comerica Bank LOC), 0.190%, 11/5/2020 | 37,500,000 | |
34,725,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series BB: Uptown Newport Apartments) Weekly VRDNs, (FHLB of Des Moines LOC)/(FHLB of San Francisco LOC), 0.160%, 11/5/2020 | 34,725,000 | |
7,500,000 | Central Basin Municipal Water District, CA, Tender Option Bond Trust Certificates (2016-XG0038) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.270%, 11/5/2020 | 7,500,000 | |
3,600,000 | Central, CA Union High School District, Tender Option Bond Trust Receipts (Series 2019-XF0759) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.170%, 11/5/2020 | 3,600,000 | |
3,040,000 | Central, CA USD, Tender Option Bond Trust Receipts (Series 2019-XF0758) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.170%, 11/5/2020 | 3,040,000 | |
2,000,000 | Chino Valley, CA USD, Tender Option Bond Trust Receipts (Series 2020-XF0922) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | 2,000,000 | |
3,945,000 | Chino Valley, CA USD, Tender Option Bond Trust Receipts (Series 2020-XM0836) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 3,945,000 | |
8,000,000 | Compton, CA USD, Tender Option Bond Trust Receipts (2019-XM0764) Weekly VRDNs, (Build America Mutual Assurance INS)/(Royal Bank of Canada LIQ), 0.170%, 11/5/2020 | 8,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 4,000,000 | Corona-Norco, CA USD, RBC Municipal Products (Series G-64) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | $4,000,000 | |
4,655,000 | Davis Joint USD, CA, Tender Option Bond Trust Certificates (Series 2019-XM0730) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 0.170%, 11/5/2020 | 4,655,000 | |
2,105,000 | Elk Grove, CA USD, Tender Option Bond Trust Receipts (Series 2017-XG0127) Weekly VRDNs, (Bank of America N.A. LIQ), 0.140%, 11/5/2020 | 2,105,000 | |
2,000,000 | Escondido, CA, RBC Muni Products (Series G-77) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 2,000,000 | |
13,710,000 | Folsom Cordova, CA USD (School Facilities Improvement District No. 3), Tender Option Bond Trust Certificates (Series 2019-XM0744) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.160%, 11/5/2020 | 13,710,000 | |
8,875,000 | Foothill/Eastern Transportation Corridor Agency, CA, Tender Option Bond Trust Certificates (2019-XL011) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 0.170%, 11/5/2020 | 8,875,000 | |
3,425,000 | Fremont, CA Union High School District, Tender Option Bond Trust Receipts (Series 2018-XF0647) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.150%, 11/5/2020 | 3,425,000 | |
2,000,000 | Grossmont-Cuyamaca, CA CCD, Tender Option Bond Trust Receipts (Series 2018-XG0188) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.160%, 11/5/2020 | 2,000,000 | |
22,060,000 | Hayward, CA USD, Tender Option Bond Trust Receipts (2017-XF0545) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Bank of America N.A. LIQ), 0.140%, 11/5/2020 | 22,060,000 | |
2,700,000 | Hillsborough, CA Water and Sewer Systems, (Series 2000A) Weekly VRDNs, (Bank of the West, San Francisco, CA LIQ), 0.130%, 11/5/2020 | 2,700,000 | |
3,800,000 | Hillsborough, CA Water and Sewer Systems, (Series 2000B) Weekly VRDNs, (Bank of the West, San Francisco, CA LIQ), 0.130%, 11/5/2020 | 3,800,000 | |
3,600,000 | Hillsborough, CA Water and Sewer Systems, (Series 2003A) Weekly VRDNs, (Bank of the West, San Francisco, CA LIQ), 0.130%, 11/5/2020 | 3,600,000 | |
1,170,000 | Hollister, CA Redevelopment Agency (San Benito County Community Services Development Corp.), (Series 2004) Weekly VRDNs, (MUFG Union Bank, N.A. LOC), 0.160%, 11/5/2020 | 1,170,000 | |
655,000 | Long Beach, CA Harbor Department (Port of Long Beach), (Series 2020 C), 4.000%, 7/15/2021 | 672,637 | |
10,660,000 | Long Beach, CA Harbor Department (Port of Long Beach), (Series A), 5.000%, 12/15/2020 | 10,719,667 | |
1,875,000 | Long Beach, CA Harbor Department (Port of Long Beach), Tender Option Bond Trust Receipts (Series 2020-XM0865) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 1,875,000 | |
5,000,000 | Los Altos, CA School District TRANs, 3.000%, 7/15/2021 | 5,098,219 | |
14,000,000 | Los Angeles County, CA Capital Asset Leasing Corporation, (Series A), CP, (Bank of the West, San Francisco, CA LOC), 0.250%, Mandatory Tender 11/18/2020 | 14,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 5,950,000 | Los Angeles County, CA Capital Asset Leasing Corporation, (Series C), CP, (Wells Fargo Bank, N.A. LOC), 0.180%, Mandatory Tender 12/7/2020 | $5,950,000 | |
2,250,000 | Los Angeles County, CA Facilities, Inc. (Los Angeles County, CA), Tender Option Bond Trust Receipts (2019-XM0750) Weekly VRDNs, (Bank of America N.A. LIQ), 0.170%, 11/5/2020 | 2,250,000 | |
17,385,000 | Los Angeles County, CA Housing Authority MFH (The Solemint Heights Partnership), Tender Option Bond Trust Floater Certificates (Series 2020-MIZ9039) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 0.190%, 11/5/2020 | 17,385,000 | |
5,000,000 | Los Angeles County, CA Metropolitan Transportation Authority, (Second Subordinate Sales Tax Revenue, Series A-TE-Barclays) (Proposition A), CP, (Barclays Bank PLC LOC), 0.180%, Mandatory Tender 1/6/2021 | 5,000,000 | |
5,000,000 | Los Angeles County, CA Metropolitan Transportation Authority, (Series R-TE- State Street), CP, (State Street Bank and Trust Co. LOC), 0.180%, Mandatory Tender 1/6/2021 | 5,000,000 | |
7,500,000 | Los Angeles County, CA Sanitation Districts Financing Authority (Los Angeles County, CA Sanitation District No. 20), Tender Option Bond Trust Certificates (2019-XM0761) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 7,500,000 | |
6,400,000 | Los Angeles County, CA, (Series A) TRANs, 4.000%, 6/30/2021 | 6,556,867 | |
4,625,000 | Los Angeles County, CA, Tender Option Bond Trust Receipts (Series 2015-ZF0183) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 4,625,000 | |
3,000,000 | Los Angeles, CA Department of Water & Power (Water Works/System), Tender Option Bond Trust Receipts (Series 2017-XG0121) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 3,000,000 | |
2,885,000 | Los Angeles, CA USD, Tender Option Bond Trust Receipts (Series 2018-XM0703) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | 2,885,000 | |
4,985,000 | Lucia Mar, CA USD, Tender Option Bond Trust Receipts (Series 2018-XG0181) Weekly VRDNs, (Bank of America N.A. LIQ), 0.140%, 11/5/2020 | 4,985,000 | |
6,670,000 | Manteca, CA USD, Tender Option Bond Trust Certificates (2015- ZM0093) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.190%, 11/5/2020 | 6,670,000 | |
5,000,000 | Metropolitan Water District of Southern California, (Series 2017 C) SIFMA Index Mode TOBs, 0.370%, Mandatory Tender 6/21/2021 | 5,000,000 | |
20,000,000 | Metropolitan Water District of Southern California, (Series 2017 D) SIFMA Index Mode TOBs, 0.370%, Mandatory Tender 6/21/2021 | 20,000,000 | |
3,000,000 | Municipal Improvement Corporation of Los Angeles, CA, (Series A-2), CP, (Bank of America N.A. LOC), 0.190%, Mandatory Tender 2/2/2021 | 3,000,000 | |
600,000 | Municipal Improvement Corporation of Los Angeles, CA, (Series A-2), CP, (Bank of America N.A. LOC), 0.200%, Mandatory Tender 2/11/2021 | 600,000 | |
3,000,000 | Municipal Improvement Corporation of Los Angeles, CA, (Series A-3), CP, (U.S. Bank, N.A. LOC), 0.200%, Mandatory Tender 2/11/2021 | 3,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 7,000,000 | Municipal Improvement Corporation of Los Angeles, CA, (Series A-3), CP, (U.S. Bank, N.A. LOC), 0.200%, Mandatory Tender 3/16/2021 | $7,000,000 | |
4,845,000 | New Haven, CA USD, Tender Option Bond Trust Receipts (Series 2020-XF0893) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.160%, 11/5/2020 | 4,845,000 | |
2,490,000 | Norwalk-La Mirada, CA USD, Tender Option Bond Trust Receipts (Series 2020-XM0810) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.160%, 11/5/2020 | 2,490,000 | |
27,700,000 | Nuveen California AMT-Free Quality Municipal Income Fund, (Series 3) Weekly VRDPs, (Toronto Dominion Bank LIQ), 0.170%, 11/5/2020 | 27,700,000 | |
2,000,000 | Nuveen California AMT-Free Quality Municipal Income Fund, (Series 4) Weekly VRDPs, (Citibank N.A., New York LIQ), 0.150%, 11/5/2020 | 2,000,000 | |
28,500,000 | Nuveen California AMT-Free Quality Municipal Income Fund, (Series 6) Weekly VRDPs, (Sumitomo Mitsui Banking Corp. LIQ), 0.150%, 11/5/2020 | 28,500,000 | |
3,000,000 | Oakland, CA, Tender Option Bond Receipts (Series 2020-XF0898) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.130%, 11/5/2020 | 3,000,000 | |
2,505,000 | Oxnard, CA School District, (Series 2018 G-8) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 2,505,000 | |
1,190,000 | Pittsburg, CA USD, Tender Option Bond Trust Receipts (Series 2017-XF0578) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.170%, 11/5/2020 | 1,190,000 | |
17,690,000 | Pomona, CA USD, Tender Option Bond Trust Certificates (Series 2017-XF2446) Weekly VRDNs, (Build America Mutual Assurance INS)/(Citibank N.A., New York LIQ), 0.140%, 11/5/2020 | 17,690,000 | |
800,000 | Riverside County, CA Asset Leasing Corp. (Riverside County, CA), (Series 2008A: Southwest Justice Center) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.120%, 11/4/2020 | 800,000 | |
10,500,000 | Riverside County, CA Public Financing Authority (Riverside County, CA), Tender Option Bond Trust Receipt (2017-ZF0538) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.220%, 11/5/2020 | 10,500,000 | |
5,000,000 | Riverside County, CA TRANs, 4.000%, 6/30/2021 | 5,122,453 | |
12,000,000 | Riverside County, CA, Teeter Plan Obligation Notes (2020 Series A) BANs, 0.500%, 10/21/2021 | 12,026,652 | |
2,000,000 | Sacramento, CA Area Flood Control Agency Consolidated Capital Assessment District No. 2, RBC Muni Products (Series G-118) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.270%, Optional Tender 4/1/2021 | 2,000,000 | |
6,000,000 | Sacramento, CA Municipal Utility District, Tender Option Bond Trust Receipts (Series 2020-ZF0943) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 6,000,000 | |
1,000,000 | San Bernardino, CA CCD, RBC Muni Products (Series G-78) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 1,000,000 | |
2,055,000 | San Bernardino, CA CCD, Tender Option Bond Trust Receipts (Series 2019-XF0786) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.170%, 11/5/2020 | 2,055,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 3,450,000 | San Diego County, CA (Museum of Contemporary Art San Diego), (Series 2004) Weekly VRDNs, (Northern Trust Co., Chicago, IL LOC), 0.150%, 11/5/2020 | $3,450,000 | |
15,000,000 | San Diego County, CA Water Authority, Commercial Paper Notes (Series 10), CP, 0.150%, Mandatory Tender 12/2/2020 | 15,000,000 | |
18,000,000 | San Diego County, CA Water Authority, Commercial Paper Notes (Series 10), CP, 0.180%, Mandatory Tender 12/7/2020 | 18,000,000 | |
15,000,000 | San Diego County, CA Water Authority, Commercial Paper Notes (Series 10), CP, 0.200%, Mandatory Tender 12/9/2020 | 15,000,000 | |
750,000 | San Diego, CA Housing Authority (220 W Broadway Development Partners, L.P.), (Series 2020 F: Courthouse Commons) Weekly VRDNs, (Mizuho Bank Ltd. LOC), 0.180%, 11/4/2020 | 750,000 | |
10,935,000 | San Diego, CA Public Facilities Authority (San Diego, CA), (Series A), CP, (Wells Fargo Bank, N.A. LOC), 0.190%, Mandatory Tender 1/13/2021 | 10,935,000 | |
4,800,000 | San Diego, CA USD, (Series A) TRANs, 5.000%, 6/30/2021 | 4,952,367 | |
3,000,000 | San Diego, CA USD, RBC Muni Products (Series 2018-G51) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 3,000,000 | |
5,724,000 | San Diego, CA Water Utility Fund, (Series B), CP, (Bank of America N.A. LOC), 0.290%, Mandatory Tender 1/11/2021 | 5,724,000 | |
27,083,000 | San Francisco, CA Public Utilities Commission (Wastewater Enterprise), (Series A-2), CP, (Bank of America N.A. LOC), 0.190%, Mandatory Tender 1/20/2021 | 27,083,000 | |
3,330,000 | San Francisco, CA Public Utilities Commission (Water Enterprise), Tender Option Bond Trust Receipts (Series 2018-XF0607) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.150%, 11/5/2020 | 3,330,000 | |
2,230,000 | San Mateo County, CA CCD, Tender Option Bond Trust Certificates (Series 2018-XM0712) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 2,230,000 | |
905,000 | Santa Barbara, CA USD, Tender Option Bond Trust Receipts (Series 2019-XF0791) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.170%, 11/5/2020 | 905,000 | |
2,985,000 | Santa Clara County, CA, (Series 2018-XF0646) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 2,985,000 | |
5,000,000 | Santa Clara Valley, CA Water District, (Series A), CP, (MUFG Bank Ltd. LOC), 0.170%, Mandatory Tender 12/3/2020 | 5,000,000 | |
3,000,000 | Sonoma County, CA Junior College District, (Series 2018 G-6) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 3,000,000 | |
4,000,000 | South Coast, CA Water District, Tender Option Bond Trust Certificates (Series 2020-XL0151) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 4,000,000 | |
2,410,000 | Southwestern CCD, CA, Tender Option Bond Trust Receipts (Series 2015-ZF0250) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.200%, 11/5/2020 | 2,410,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 4,750,000 | Sweetwater, CA Union High School District, RBC Muni Products, Inc. Trust (Series G-95) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | $4,750,000 | |
8,490,000 | Twin Rivers, CA USD, Tender Option Bond Trust Certificates (Series 2017-XF2442) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.170%, 11/5/2020 | 8,490,000 | |
10,000,000 | University of California (The Regents of), (Series A), CP, 0.170%, Mandatory Tender 12/3/2020 | 10,000,000 | |
4,000,000 | University of California (The Regents of), (Series A), CP, 0.180%, Mandatory Tender 12/4/2020 | 4,000,000 | |
9,120,000 | University of California (The Regents of), (Series A), CP, 0.250%, Mandatory Tender 1/6/2021 | 9,120,000 | |
10,000,000 | University of California (The Regents of), Tender Option Bond Trust Certificates (Series 2018-ZF2670) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 10,000,000 | |
2,675,000 | University of California (The Regents of), Tender Option Bond Trust Receipts (2016-XF0524) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.150%, 11/5/2020 | 2,675,000 | |
1,500,000 | University of California (The Regents of), Tender Option Bond Trust Receipts (Series 2018-ZM0660) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 1,500,000 | |
2,220,000 | University of California (The Regents of), Tender Option Bond Trust Receipts (Series 2020-XF0921) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 2,220,000 | |
6,800,000 | Victor Valley, CA CCD, Tender Option Bond Trust Receipts (Series 2020-XM0864) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | 6,800,000 | |
1,500,000 | Victorville, CA Joint Powers Financing Authority (Victorville, CA), (Series 2007A: Cogeneration Facility) Weekly VRDNs, (BNP Paribas SA LOC), 0.150%, 11/5/2020 | 1,500,000 | |
8,675,000 | Visalia, CA USD, Floater Certificates (Series 2018-ZM0657) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.170%, 11/5/2020 | 8,675,000 | |
5,500,000 | West Basin, CA Municipal Water District, CP, (Bank of the West, San Francisco, CA LOC), 0.210%, Mandatory Tender 2/2/2021 | 5,500,000 | |
13,585,000 | Western Placer, CA USD, Tender Option Bond Trust Receipts (Series 2017-XG0152) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 0.170%, 11/5/2020 | 13,585,000 | |
20,880,000 | Whittier, CA Health Facility Revenue Bonds (Presbyterian Intercommunity Hospital Obligated Group), Golden Blue 3a-7 (Series 2018-030) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.240%, 11/5/2020 | 20,880,000 | |
3,350,000 | Yosemite, CA CCD, RBC Muni Products (Series 2018-G50) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 3,350,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 5,087,000 | Yosemite, CA CCD, Tender Option Bond Trust Receipts (Series 2019-XF0772) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | $5,087,000 | |
TOTAL INVESTMENT IN SECURITIES—100.0% (AT AMORTIZED COST)2 | 1,157,646,005 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.0)%3 | (492,743) | ||
TOTAL NET ASSETS—100% | $1,157,153,262 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
BANs | —Bond Anticipation Notes | |
CCD | —Community College District | |
CP | —Commercial Paper | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
GTD | —Guaranteed | |
IDA | —Industrial Development Authority | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MFH | —Multi-Family Housing | |
PCFA | —Pollution Control Finance Authority | |
SIFMA | —Securities Industry and Financial Markets Association | |
TOBs | —Tender Option Bonds | |
TRANs | —Tax and Revenue Anticipation Notes | |
USD | —Unified School District | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.005 | 0.013 | 0.011 | 0.006 | 0.002 |
Net realized gain (loss) | 0.0001 | (0.000)1 | (0.000)1 | 0.0001 | 0.003 |
TOTAL FROM INVESTMENT OPERATIONS | 0.005 | 0.013 | 0.011 | 0.006 | 0.005 |
Less Distributions: | |||||
Distributions from net investment income | (0.005) | (0.013) | (0.011) | (0.006) | (0.002) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.003) |
TOTAL DISTRIBUTIONS | (0.005) | (0.013) | (0.011) | (0.006) | (0.005) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.53% | 1.28% | 1.10% | 0.56% | 0.49% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.27% | 0.28% | 0.28% | 0.28% | 0.18%4 |
Net investment income | 0.54% | 1.25% | 1.10% | 0.58% | 0.12% |
Expense waiver/reimbursement5 | 0.15% | 0.14% | 0.19% | 0.29% | 0.39% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $584,821 | $678,115 | $372,325 | $156,974 | $54,046 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016 was 0.18% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.004 | 0.010 | 0.008 | 0.003 | 0.001 |
Net realized gain | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.003 |
Total From Investment Operations | 0.004 | 0.010 | 0.008 | 0.003 | 0.004 |
Less Distributions: | |||||
Distributions from net investment income | (0.004) | (0.010) | (0.008) | (0.003) | (0.001) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.003) |
Total Distributions | (0.004) | (0.010) | (0.008) | (0.003) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.38% | 1.03% | 0.85% | 0.31% | 0.37% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.41% | 0.53% | 0.53% | 0.53% | 0.31%4 |
Net investment income | 0.37% | 1.02% | 0.82% | 0.30% | 0.05% |
Expense waiver/reimbursement5 | 0.34% | 0.21% | 0.27% | 0.38% | 0.55% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $149,764 | $146,624 | $140,179 | $150,916 | $163,198 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016 was 0.31% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.003 | 0.009 | 0.007 | 0.002 | 0.0001 |
Net realized gain (loss) | 0.0001 | (0.000)1 | (0.000)1 | 0.0001 | 0.003 |
Total From Investment Operations | 0.003 | 0.009 | 0.007 | 0.002 | 0.003 |
Less Distributions: | |||||
Distributions from net investment income | (0.003) | (0.009) | (0.007) | (0.002) | (0.000)1 |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.003) |
Total Distributions | (0.003) | (0.009) | (0.007) | (0.002) | (0.003) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.30% | 0.88% | 0.70% | 0.16% | 0.34% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.47% | 0.68% | 0.68% | 0.68% | 0.20%4 |
Net investment income | 0.28% | 0.87% | 0.68% | 0.16% | 0.01% |
Expense waiver/reimbursement5 | 0.50% | 0.28% | 0.34% | 0.42% | 0.90% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $262,597 | $207,071 | $15,140 | $8,242 | $6,170 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016 was 0.20% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.001 | 0.006 | 0.003 | 0.0001 | 0.0001 |
Net realized gain (loss) | 0.0001 | (0.001)1 | 0.0001 | 0.0001 | 0.003 |
Total From Investment Operations | 0.001 | 0.005 | 0.003 | 0.0001 | 0.003 |
Less Distributions: | |||||
Distributions from net investment income | (0.001) | (0.005) | (0.003) | (0.000)1 | (0.000)1 |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.003) |
Total Distributions | (0.001) | (0.005) | (0.003) | (0.000)1 | (0.003) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.15% | 0.53% | 0.35% | 0.01% | 0.32% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.59% | 1.03% | 1.03% | 0.83% | 0.33%4 |
Net investment income | 0.16% | 0.56% | 0.32% | 0.01% | 0.01% |
Expense waiver/reimbursement5 | 0.76% | 0.34% | 0.40% | 0.70% | 1.18% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $33,558 | $21,190 | $38,713 | $51,752 | $55,103 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016 was 0.33% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.005 | 0.012 | 0.010 | 0.005 | 0.001 |
Net realized gain (loss) | 0.0001 | (0.000)1 | (0.000)1 | (0.000)1 | 0.003 |
Total From Investment Operations | 0.005 | 0.012 | 0.010 | 0.005 | 0.004 |
Less Distributions: | |||||
Distributions from net investment income | (0.005) | (0.012) | (0.010) | (0.005) | (0.001) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.003) |
Total Distributions | (0.005) | (0.012) | (0.010) | (0.005) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.46% | 1.18% | 1.00% | 0.46% | 0.43% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.32% | 0.38% | 0.38% | 0.38% | 0.24%4 |
Net investment income | 0.44% | 1.18% | 0.99% | 0.49% | 0.07% |
Expense waiver/reimbursement5 | 0.28% | 0.24% | 0.29% | 0.36% | 0.52% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $126,413 | $113,238 | $130,769 | $89,382 | $29,806 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016 was 0.24% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in securities, at amortized cost and fair value | $1,157,646,005 |
Cash | 98,292 |
Income receivable | 963,663 |
Receivable for shares sold | 17,096 |
Total Assets | 1,158,725,056 |
Liabilities: | |
Payable for shares redeemed | 1,478,589 |
Income distribution payable | 605 |
Payable for investment adviser fee (Note 5) | 4,310 |
Payable for administrative fee (Note 5) | 4,932 |
Payable for portfolio accounting fees | 50,829 |
Accrued expenses (Note 5) | 32,529 |
Total Liabilities | 1,571,794 |
Net assets for 1,156,998,777 shares outstanding | $1,157,153,262 |
Net Assets Consist of: | |
Paid-in capital | $1,156,998,742 |
Total distributable earnings (loss) | 154,520 |
Total Net Assets | $1,157,153,262 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Wealth Shares: | |
$584,821,462 ÷ 584,743,486 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$149,763,502 ÷ 149,743,337 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$262,597,183 ÷ 262,562,169 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$33,557,685 ÷ 33,553,210 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$126,413,430 ÷ 126,396,575 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $9,804,154 |
Dividends | 3,456 |
TOTAL INCOME | 9,807,610 |
Expenses: | |
Investment adviser fee (Note 5) | 3,725,918 |
Administrative fee (Note 5) | 972,976 |
Custodian fees | 42,805 |
Transfer agent fees (Note 2) | 528,467 |
Directors’/Trustees’ fees (Note 5) | 6,349 |
Auditing fees | 22,100 |
Legal fees | 23,464 |
Portfolio accounting fees | 205,571 |
Distribution services fee (Note 5) | 677,781 |
Other service fees (Notes 2 and 5) | 1,174,565 |
Share registration costs | 127,098 |
Printing and postage | 33,626 |
Miscellaneous (Note 5) | 11,740 |
TOTAL EXPENSES | 7,552,460 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (1,907,211) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (1,449,855) |
TOTAL WAIVERS AND REIMBURSEMENTS | (3,357,066) |
Net expenses | 4,195,394 |
Net investment income | 5,612,216 |
Net realized gain on investments | 133,432 |
Change in net assets resulting from operations | $5,745,648 |
Year Ended October 31 | 2020 | 2019 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $5,612,216 | $11,567,723 |
Net realized gain (loss) | 133,432 | 145,600 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 5,745,648 | 11,713,323 |
Distributions to Shareholders: | ||
Wealth Shares | (3,903,676) | (6,640,086) |
Service Shares | (553,743) | (1,426,554) |
Cash II Shares | (728,760) | (1,781,234) |
Cash Series Shares | (50,511) | (180,824) |
Capital Shares | (507,383) | (1,539,217) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (5,744,073) | (11,567,915) |
Share Transactions: | ||
Proceeds from sale of shares | 1,894,350,274 | 2,159,241,595 |
Net asset value of shares issued to shareholders in payment of distributions declared | 5,344,740 | 10,844,983 |
Cost of shares redeemed | (1,908,780,546) | (1,701,119,445) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (9,085,532) | 468,967,133 |
Change in net assets | (9,083,957) | 469,112,541 |
Net Assets: | ||
Beginning of period | 1,166,237,219 | 697,124,678 |
End of period | $1,157,153,262 | $1,166,237,219 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Wealth Shares | $31,199 | $(18,633) | $0 |
Service Shares | 121,413 | (99,118) | (19,638) |
Cash II Shares | 251,521 | (199,157) | (47,869) |
Cash Series Shares | 26,901 | (20,295) | (6,058) |
Capital Shares | 97,433 | (84,950) | (10,439) |
TOTAL | $528,467 | $(422,153) | $(84,004) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $365,098 | $(4,737) | $(145,501) |
Cash II Shares | 621,428 | (5,235) | (319,704) |
Cash Series Shares | 75,255 | (2,018) | (47,447) |
Capital Shares | 112,784 | (537) | (41,413) |
TOTAL | $1,174,565 | $(12,527) | $(554,065) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,017,560,763 | $1,017,560,763 | 1,141,963,195 | $1,141,963,195 |
Shares issued to shareholders in payment of distributions declared | 3,613,285 | 3,613,285 | 6,228,549 | 6,228,549 |
Shares redeemed | (1,114,456,355) | (1,114,456,355) | (842,486,518) | (842,486,518) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | (93,282,307) | $(93,282,307) | 305,705,226 | $305,705,226 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 271,796,390 | $271,796,390 | 287,493,797 | $287,493,797 |
Shares issued to shareholders in payment of distributions declared | 460,247 | 460,247 | 1,136,043 | 1,136,043 |
Shares redeemed | (269,118,074) | (269,118,074) | (282,202,706) | (282,202,706) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 3,138,563 | $3,138,563 | 6,427,134 | $6,427,134 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 319,438,665 | $319,438,665 | 428,844,355 | $428,844,355 |
Shares issued to shareholders in payment of distributions declared | 728,408 | 728,408 | 1,779,068 | 1,779,068 |
Shares redeemed | (264,648,897) | (264,648,897) | (238,718,930) | (238,718,930) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | 55,518,176 | $55,518,176 | 191,904,493 | $191,904,493 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 110,727,202 | $110,727,202 | 58,735,459 | $58,735,459 |
Shares issued to shareholders in payment of distributions declared | 50,250 | 50,250 | 176,116 | 176,116 |
Shares redeemed | (98,411,147) | (98,411,147) | (76,436,872) | (76,436,872) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 12,366,305 | $12,366,305 | (17,525,297) | $(17,525,297) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 174,827,254 | $174,827,254 | 242,204,789 | $242,204,789 |
Shares issued to shareholders in payment of distributions declared | 492,550 | 492,550 | 1,525,207 | 1,525,207 |
Shares redeemed | (162,146,073) | (162,146,073) | (261,274,419) | (261,274,419) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 13,173,731 | $13,173,731 | (17,544,423) | $(17,544,423) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (9,085,532) | $(9,085,532) | 468,967,133 | $468,967,133 |
2020 | 2019 | |
Tax-exempt income | $5,598,468 | $11,564,154 |
Ordinary income1 | $14,271 | $289 |
Long-term capital gains | $131,334 | $3,472 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed tax-exempt income | $21,109 |
Undistributed ordinary income2 | $68,213 |
Undistributed long-term capital gains | $65,198 |
2 | For tax purposes, short-term capital gains are considered ordinary income in determining distributable earnings. |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Percentage of Average Daily Net Assets of Class | |
Cash II Shares | 0.20% |
Cash Series Shares | 0.60% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Cash II Shares | $497,170 | $(270,515) |
Cash Series Shares | 180,611 | (106,591) |
TOTAL | $677,781 | $(377,106) |
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Beginning Account Value 5/1/2020 | Ending Account Value 10/31/2020 | Expenses Paid During Period1 | |
Actual: | |||
Wealth Shares | $1,000 | $1,000.30 | $1.26 |
Service Shares | $1,000 | $1,000.00 | $21.46 |
Cash II Shares | $1,000 | $1,000.00 | $31.46 |
Cash Series Shares | $1,000 | $1,000.00 | $41.46 |
Capital Shares | $1,000 | $1,000.10 | $51.36 |
Hypothetical (assuming a 5% return before expenses): | |||
Wealth Shares | $1,000 | $1,023.88 | $1.27 |
Service Shares | $1,000 | $1,023.68 | $21.48 |
Cash II Shares | $1,000 | $1,023.68 | $31.48 |
Cash Series Shares | $1,000 | $1,023.68 | $41.48 |
Capital Shares | $1,000 | $1,023.78 | $51.37 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Wealth Shares | 0.25% |
Service Shares | 0.29% |
Cash II Shares | 0.29% |
Cash Series Shares | 0.29% |
Capital Shares | 0.27% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.53% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $2.66 and $2.70, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash II Shares current Fee Limit of 0.68% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $3.42 and $3.46, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash Series Shares current Fee Limit of 1.03% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $5.18 and $5.24, respectively. |
5 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Capital Shares current Fee Limit of 0.38% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $1.91 and $1.93, respectively. |
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: April 1989 | 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) |
Thomas R. Donahue* Birth Date: October 20, 1958 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Director or Trustee of certain of the funds in the Federated Hermes Fund Family; Chief Financial Officer, Treasurer, Vice President and Assistant Secretary, Federated Hermes, Inc.; Chairman and Trustee, Federated Administrative Services; Chairman and Director, Federated Administrative Services, Inc.; Trustee and Treasurer, Federated Advisory Services Company; Director or Trustee and Treasurer, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, and Federated Investment Management Company; Director, MDTA LLC; Director, Executive Vice President and Assistant Secretary, Federated Securities Corp.; Director or Trustee and Chairman, Federated Services Company and Federated Shareholder Services Company; and Director and President, FII Holdings, Inc. Previous Positions: Director, Federated Hermes, Inc.; Assistant Secretary, Federated Investment Management Company, Federated Global Investment Management Company and Passport Research, LTD; Treasurer, Passport Research, LTD; Executive Vice President, Federated Securities Corp.; and Treasurer, FII Holdings, 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 |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: September 2013 | Principal Occupations: Director or Trustee 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, and Chairman of the Compensation Committee, 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 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; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; 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; and Director and Chair, North Catholic High School, 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 |
Charles F. Mansfield, Jr. Birth Date: April 10, 1945 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant and Author. Other Directorships Held: None. Qualifications: Mr. Mansfield has served as a Marine Corps officer and in several banking, business management, educational roles and directorship positions throughout his long career. He remains active as a Management Consultant and Author. |
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. Ms. Reilly also previously served as Chair of the Risk Management Committee for Holy Ghost Preparatory School, Philadelphia and Secretary and Chair of the Governance Committee, Oakland Catholic High School Board of Trustees, Pittsburgh. |
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 |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: September 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.); and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, 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 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. |
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. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Deborah A. Cunningham was named Chief Investment Officer of Federated Hermes’ money market products in 2004. She joined Federated Hermes in 1981 and has been a Senior Portfolio Manager since 1997 and an Executive Vice President of the Fund’s Adviser since 2009. Ms. Cunningham has received the Chartered Financial Analyst designation and holds an M.S.B.A. in Finance from Robert Morris College. |
Mary Jo Ochson Birth Date: September 12, 1953 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Mary Jo Ochson was named Chief Investment Officer of Federated Hermes’ tax-exempt, fixed-income products in 2004 and Chief Investment Officer of Federated Hermes’ Tax-Free Money Markets in 2010. She joined Federated Hermes in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of the Fund’s Adviser since 1996. Ms. Ochson has received the Chartered Financial Analyst designation and holds an M.B.A. in Finance from the University of Pittsburgh. |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N351
CUSIP 60934N179
CUSIP 608919403
CUSIP 608919502
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Share Class | Ticker | Wealth | CAIXX |
Federated Hermes California Municipal Cash Trust
A Portfolio of Federated Hermes Money Market Obligations Trust
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Donahue
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Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 57.2% |
Commercial Paper | 34.7% |
Municipal Notes | 8.1% |
Other Assets and Liabilities—Net2,3 | (0.0)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
3 | Represents less than 0.1%. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 54.5% |
8-30 Days | 3.0% |
31-90 Days | 27.5% |
91-180 Days | 8.9% |
181 Days or more | 6.1% |
Other Assets and Liabilities—Net2 | (0.0)% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Represents less than 0.1%. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 100.0% | ||
California— 100.0% | |||
$ 1,295,000 | ABAG Finance Authority for Non-Profit Corporations, CA (Ecology Action of Santa Cruz), (Series 2010) Weekly VRDNs, (Comerica Bank LOC), 0.150%, 11/5/2020 | $1,295,000 | |
2,710,000 | Alameda County, CA IDA (Santini Foods, Inc.), (Series 2010A) Weekly VRDNs, (Comerica Bank LOC), 0.150%, 11/5/2020 | 2,710,000 | |
335,000 | Alameda County, CA IDA Recovery Zone Facility (Dale Hardware, Inc.), (Series 2010) Weekly VRDNs, (Comerica Bank LOC), 0.150%, 11/5/2020 | 335,000 | |
2,595,000 | Alameda County, CA IDA Recovery Zone Facility (Reis Newark LLC), (Series 2010A) Weekly VRDNs, (Bank of the West, San Francisco, CA LOC), 0.150%, 11/5/2020 | 2,595,000 | |
9,960,000 | Alvord, CA USD, Tender Option Bond Trust Certificates (2016-XG0089) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Credit Suisse AG LIQ), 0.200%, 11/5/2020 | 9,960,000 | |
3,200,000 | Antelope Valley, CA CCD, Tender Option Bond Trust Receipts (Series 2020-XF0894) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.130%, 11/5/2020 | 3,200,000 | |
3,365,000 | Banning, CA USD, Tender Option Bond Trust Certificates (Series 2017-XF2440) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.170%, 11/5/2020 | 3,365,000 | |
9,000,000 | Bay Area Toll Authority, CA, Tender Option Bond Trust Receipts (Series 2017-ZM0542) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 9,000,000 | |
4,000,000 | Beaumont, CA Public Improvement Authority, Tender Option Bond Trust Certificates (Series 2018-ZF2715) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.170%, 11/5/2020 | 4,000,000 | |
3,320,000 | Calexico, CA USD, Tender Option Bond Trust Certificates (2017- XG0118) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/ (Morgan Stanley Bank, N.A. LIQ), 0.170%, 11/5/2020 | 3,320,000 | |
4,920,000 | California Education Notes Program (San Mateo, CA Union High School District), (Series A) TRANs, 4.000%, 6/30/2021 | 5,043,359 | |
1,200,000 | California Educational Facilities Authority (Stanford University), (Series S-4), CP, 0.250%, Mandatory Tender 7/20/2021 | 1,200,000 | |
6,375,000 | California Educational Facilities Authority (Stanford University), CP, 0.210%, Mandatory Tender 3/3/2021 | 6,375,000 | |
5,125,000 | California Enterprise Development Authority (Alvarado Street Bakery), (Series 2007) Weekly VRDNs, (U.S. Bank, N.A. LOC), 0.160%, 11/5/2020 | 5,125,000 | |
5,170,000 | California Enterprise Development Authority (Humane Society Silicon Valley), (Series 2008) Weekly VRDNs, (FHLB of San Francisco LOC), 0.140%, 11/5/2020 | 5,170,000 | |
3,800,000 | California Enterprise Development Authority (Regional Properties, Inc.), (Series 2010: Recovery Zone Facility) Weekly VRDNs, (FHLB of San Francisco LOC), 0.140%, 11/5/2020 | 3,800,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$52,245,000 | California Health Facilities Financing Authority (Dignity Health (Catholic Healthcare West)), Golden Blue (Series 2017-004) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.240%, 11/5/2020 | $52,245,000 | |
21,000,000 | California Health Facilities Financing Authority (Kaiser Permanente), (Series 2006D), CP, 0.250%, Mandatory Tender 1/7/2021 | 21,000,000 | |
5,000,000 | California Health Facilities Financing Authority (Kaiser Permanente), RBC Muni Products (Series G-44) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.270%, Optional Tender 11/2/2020 | 5,000,000 | |
4,180,000 | California Health Facilities Financing Authority (Lucile Salter Packard Children’s Hospital at Stanford), Tender Option Bond Trust Receipts (2016-XF0451) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 4,180,000 | |
2,295,000 | California Health Facilities Financing Authority (Providence St. Joseph Health), Tender Option Bond Trust Receipts (Series 2018-XM0696) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 2,295,000 | |
5,000,000 | California Health Facilities Financing Authority (Stanford Hospital & Clinics), (2008 Series B-2 Subseries 2), CP, 0.240%, Mandatory Tender 5/5/2021 | 5,000,000 | |
11,890,000 | California Health Facilities Financing Authority (Sutter Health), Tender Option Bond Trust Receipts (Series 2018-XF0622) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.220%, 11/5/2020 | 11,890,000 | |
3,420,000 | California Infrastructure & Economic Development Bank (Los Angeles Society for the Prevention of Cruelty to Animals), (Series 2002A) Weekly VRDNs, (Bank of New York Mellon, N.A. LOC), 0.150%, 11/5/2020 | 3,420,000 | |
9,350,000 | California Infrastructure & Economic Development Bank (St. Margaret of Scotland Episcopal School), (Series 2008) Monthly VRDNs, (FHLB of San Francisco LOC), 0.400%, 11/1/2020 | 9,350,000 | |
2,550,000 | California PCFA (Big Bear Disposal, Inc.), (Series 2010) Weekly VRDNs, (MUFG Union Bank, N.A. LOC), 0.170%, 11/4/2020 | 2,550,000 | |
11,973,000 | California State Department of Water Resources, (Series 1), CP, 0.150%, Mandatory Tender 11/19/2020 | 11,973,000 | |
5,768,000 | California State Department of Water Resources, (Series 1), CP, 0.200%, Mandatory Tender 1/20/2021 | 5,768,000 | |
5,000,000 | California State Department of Water Resources, (Series 2), CP, 0.150%, Mandatory Tender 11/19/2020 | 5,000,000 | |
6,000,000 | California State Department of Water Resources, (Series 2), CP, 0.170%, Mandatory Tender 1/5/2021 | 6,000,000 | |
10,000,000 | California State Department of Water Resources, (Series 2), CP, 0.190%, Mandatory Tender 1/13/2021 | 10,000,000 | |
8,754,000 | California State Department of Water Resources, (Series 2), CP, 0.190%, Mandatory Tender 1/8/2021 | 8,754,000 | |
10,000,000 | California State Department of Water Resources, (Series 2), CP, 0.200%, Mandatory Tender 1/20/2021 | 10,000,000 | |
18,830,000 | California State Municipal Finance Authority (Montague Parkway Associates LP), Tender Option Bond Trust Floater Certificates (2020- MIZ9041) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 0.190%, 11/5/2020 | 18,830,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 1,320,000 | California State Public Works Board (California State), (2019 Series C), 5.000%, 11/1/2020 | $1,320,000 | |
2,235,000 | California State University (The Trustees of), Tender Option Bond Trust Receipts (Series 2018-ZF0673) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 2,235,000 | |
10,000,000 | California State University Institute, (Series A), CP, (State Street Bank and Trust Co. LOC)/(Wells Fargo Bank, N.A. LOC), 0.170%, Mandatory Tender 11/4/2020 | 10,000,000 | |
4,000,000 | California State, (Series A-8), CP, (Bank of the West, San Francisco, CA LOC), 0.150%, Mandatory Tender 11/16/2020 | 4,000,000 | |
10,000,000 | California State, 2.000%, 3/1/2021 | 10,044,784 | |
2,000,000 | California State, RBC Muni Products, Inc. Trust Floater Certificates (Series G-1) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 2,000,000 | |
4,000,000 | California State, RBC Muni Products, Inc. Trust Floater Certificates (Series G-2) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 4,000,000 | |
2,220,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XF0924) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | 2,220,000 | |
2,000,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XF0933) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 2,000,000 | |
1,360,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XF0935) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 1,360,000 | |
2,000,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XF0953) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 2,000,000 | |
2,225,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XM0848) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 2,225,000 | |
3,185,000 | California State, Tender Option Bond Trust Receipts (Series 2020-XM0849) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 3,185,000 | |
3,220,000 | California State, Tender Option Bond Trust Receipts (Series 2020-ZF0932) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 3,220,000 | |
20,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004E), CP, 0.240%, Mandatory Tender 2/2/2021 | 20,000,000 | |
10,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004I), CP, 0.260%, Mandatory Tender 4/7/2021 | 10,000,000 | |
10,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2004K), CP, 0.240%, Mandatory Tender 3/3/2021 | 10,000,000 | |
10,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2008B), CP, 0.280%, Mandatory Tender 12/8/2020 | 10,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$13,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2008B), CP, 0.280%, Mandatory Tender 12/8/2020 | $13,000,000 | |
35,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009B-1), CP, 0.250%, Mandatory Tender 11/4/2020 | 35,000,000 | |
15,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009B-4), CP, 0.240%, Mandatory Tender 3/9/2021 | 15,000,000 | |
15,000,000 | California Statewide Communities Development Authority (Kaiser Permanente), (Series 2009D), CP, 0.280%, Mandatory Tender 12/8/2020 | 15,000,000 | |
15,845,000 | California Statewide Communities Development Authority (Kaiser Permanente), Tender Option Bond Trust Receipts (Series 2015-ZF0199) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | 15,845,000 | |
6,150,000 | California Statewide Communities Development Authority (Pacific Collegiate Foundation), (Series 2016) Weekly VRDNs, (Comerica Bank LOC), 0.150%, 11/5/2020 | 6,150,000 | |
5,600,000 | California Statewide Communities Development Authority MFH (Beaumont CA Leased Housing Associates I, LP), (2010 Series B: Mountain View Apartments) Weekly VRDNs, (FHLMC LOC), 0.200%, 11/5/2020 | 5,600,000 | |
37,500,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series AA: Uptown Newport Apartments) Weekly VRDNs, (Comerica Bank LOC), 0.190%, 11/5/2020 | 37,500,000 | |
34,725,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series BB: Uptown Newport Apartments) Weekly VRDNs, (FHLB of Des Moines LOC)/(FHLB of San Francisco LOC), 0.160%, 11/5/2020 | 34,725,000 | |
7,500,000 | Central Basin Municipal Water District, CA, Tender Option Bond Trust Certificates (2016-XG0038) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.270%, 11/5/2020 | 7,500,000 | |
3,600,000 | Central, CA Union High School District, Tender Option Bond Trust Receipts (Series 2019-XF0759) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.170%, 11/5/2020 | 3,600,000 | |
3,040,000 | Central, CA USD, Tender Option Bond Trust Receipts (Series 2019-XF0758) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.170%, 11/5/2020 | 3,040,000 | |
2,000,000 | Chino Valley, CA USD, Tender Option Bond Trust Receipts (Series 2020-XF0922) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | 2,000,000 | |
3,945,000 | Chino Valley, CA USD, Tender Option Bond Trust Receipts (Series 2020-XM0836) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 3,945,000 | |
8,000,000 | Compton, CA USD, Tender Option Bond Trust Receipts (2019-XM0764) Weekly VRDNs, (Build America Mutual Assurance INS)/(Royal Bank of Canada LIQ), 0.170%, 11/5/2020 | 8,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 4,000,000 | Corona-Norco, CA USD, RBC Municipal Products (Series G-64) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | $4,000,000 | |
4,655,000 | Davis Joint USD, CA, Tender Option Bond Trust Certificates (Series 2019-XM0730) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 0.170%, 11/5/2020 | 4,655,000 | |
2,105,000 | Elk Grove, CA USD, Tender Option Bond Trust Receipts (Series 2017-XG0127) Weekly VRDNs, (Bank of America N.A. LIQ), 0.140%, 11/5/2020 | 2,105,000 | |
2,000,000 | Escondido, CA, RBC Muni Products (Series G-77) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 2,000,000 | |
13,710,000 | Folsom Cordova, CA USD (School Facilities Improvement District No. 3), Tender Option Bond Trust Certificates (Series 2019-XM0744) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.160%, 11/5/2020 | 13,710,000 | |
8,875,000 | Foothill/Eastern Transportation Corridor Agency, CA, Tender Option Bond Trust Certificates (2019-XL011) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 0.170%, 11/5/2020 | 8,875,000 | |
3,425,000 | Fremont, CA Union High School District, Tender Option Bond Trust Receipts (Series 2018-XF0647) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.150%, 11/5/2020 | 3,425,000 | |
2,000,000 | Grossmont-Cuyamaca, CA CCD, Tender Option Bond Trust Receipts (Series 2018-XG0188) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.160%, 11/5/2020 | 2,000,000 | |
22,060,000 | Hayward, CA USD, Tender Option Bond Trust Receipts (2017-XF0545) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Bank of America N.A. LIQ), 0.140%, 11/5/2020 | 22,060,000 | |
2,700,000 | Hillsborough, CA Water and Sewer Systems, (Series 2000A) Weekly VRDNs, (Bank of the West, San Francisco, CA LIQ), 0.130%, 11/5/2020 | 2,700,000 | |
3,800,000 | Hillsborough, CA Water and Sewer Systems, (Series 2000B) Weekly VRDNs, (Bank of the West, San Francisco, CA LIQ), 0.130%, 11/5/2020 | 3,800,000 | |
3,600,000 | Hillsborough, CA Water and Sewer Systems, (Series 2003A) Weekly VRDNs, (Bank of the West, San Francisco, CA LIQ), 0.130%, 11/5/2020 | 3,600,000 | |
1,170,000 | Hollister, CA Redevelopment Agency (San Benito County Community Services Development Corp.), (Series 2004) Weekly VRDNs, (MUFG Union Bank, N.A. LOC), 0.160%, 11/5/2020 | 1,170,000 | |
655,000 | Long Beach, CA Harbor Department (Port of Long Beach), (Series 2020 C), 4.000%, 7/15/2021 | 672,637 | |
10,660,000 | Long Beach, CA Harbor Department (Port of Long Beach), (Series A), 5.000%, 12/15/2020 | 10,719,667 | |
1,875,000 | Long Beach, CA Harbor Department (Port of Long Beach), Tender Option Bond Trust Receipts (Series 2020-XM0865) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 1,875,000 | |
5,000,000 | Los Altos, CA School District TRANs, 3.000%, 7/15/2021 | 5,098,219 | |
14,000,000 | Los Angeles County, CA Capital Asset Leasing Corporation, (Series A), CP, (Bank of the West, San Francisco, CA LOC), 0.250%, Mandatory Tender 11/18/2020 | 14,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 5,950,000 | Los Angeles County, CA Capital Asset Leasing Corporation, (Series C), CP, (Wells Fargo Bank, N.A. LOC), 0.180%, Mandatory Tender 12/7/2020 | $5,950,000 | |
2,250,000 | Los Angeles County, CA Facilities, Inc. (Los Angeles County, CA), Tender Option Bond Trust Receipts (2019-XM0750) Weekly VRDNs, (Bank of America N.A. LIQ), 0.170%, 11/5/2020 | 2,250,000 | |
17,385,000 | Los Angeles County, CA Housing Authority MFH (The Solemint Heights Partnership), Tender Option Bond Trust Floater Certificates (Series 2020-MIZ9039) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 0.190%, 11/5/2020 | 17,385,000 | |
5,000,000 | Los Angeles County, CA Metropolitan Transportation Authority, (Second Subordinate Sales Tax Revenue, Series A-TE-Barclays) (Proposition A), CP, (Barclays Bank PLC LOC), 0.180%, Mandatory Tender 1/6/2021 | 5,000,000 | |
5,000,000 | Los Angeles County, CA Metropolitan Transportation Authority, (Series R-TE- State Street), CP, (State Street Bank and Trust Co. LOC), 0.180%, Mandatory Tender 1/6/2021 | 5,000,000 | |
7,500,000 | Los Angeles County, CA Sanitation Districts Financing Authority (Los Angeles County, CA Sanitation District No. 20), Tender Option Bond Trust Certificates (2019-XM0761) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 7,500,000 | |
6,400,000 | Los Angeles County, CA, (Series A) TRANs, 4.000%, 6/30/2021 | 6,556,867 | |
4,625,000 | Los Angeles County, CA, Tender Option Bond Trust Receipts (Series 2015-ZF0183) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 4,625,000 | |
3,000,000 | Los Angeles, CA Department of Water & Power (Water Works/System), Tender Option Bond Trust Receipts (Series 2017-XG0121) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 3,000,000 | |
2,885,000 | Los Angeles, CA USD, Tender Option Bond Trust Receipts (Series 2018-XM0703) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | 2,885,000 | |
4,985,000 | Lucia Mar, CA USD, Tender Option Bond Trust Receipts (Series 2018-XG0181) Weekly VRDNs, (Bank of America N.A. LIQ), 0.140%, 11/5/2020 | 4,985,000 | |
6,670,000 | Manteca, CA USD, Tender Option Bond Trust Certificates (2015- ZM0093) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.190%, 11/5/2020 | 6,670,000 | |
5,000,000 | Metropolitan Water District of Southern California, (Series 2017 C) SIFMA Index Mode TOBs, 0.370%, Mandatory Tender 6/21/2021 | 5,000,000 | |
20,000,000 | Metropolitan Water District of Southern California, (Series 2017 D) SIFMA Index Mode TOBs, 0.370%, Mandatory Tender 6/21/2021 | 20,000,000 | |
3,000,000 | Municipal Improvement Corporation of Los Angeles, CA, (Series A-2), CP, (Bank of America N.A. LOC), 0.190%, Mandatory Tender 2/2/2021 | 3,000,000 | |
600,000 | Municipal Improvement Corporation of Los Angeles, CA, (Series A-2), CP, (Bank of America N.A. LOC), 0.200%, Mandatory Tender 2/11/2021 | 600,000 | |
3,000,000 | Municipal Improvement Corporation of Los Angeles, CA, (Series A-3), CP, (U.S. Bank, N.A. LOC), 0.200%, Mandatory Tender 2/11/2021 | 3,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 7,000,000 | Municipal Improvement Corporation of Los Angeles, CA, (Series A-3), CP, (U.S. Bank, N.A. LOC), 0.200%, Mandatory Tender 3/16/2021 | $7,000,000 | |
4,845,000 | New Haven, CA USD, Tender Option Bond Trust Receipts (Series 2020-XF0893) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.160%, 11/5/2020 | 4,845,000 | |
2,490,000 | Norwalk-La Mirada, CA USD, Tender Option Bond Trust Receipts (Series 2020-XM0810) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.160%, 11/5/2020 | 2,490,000 | |
27,700,000 | Nuveen California AMT-Free Quality Municipal Income Fund, (Series 3) Weekly VRDPs, (Toronto Dominion Bank LIQ), 0.170%, 11/5/2020 | 27,700,000 | |
2,000,000 | Nuveen California AMT-Free Quality Municipal Income Fund, (Series 4) Weekly VRDPs, (Citibank N.A., New York LIQ), 0.150%, 11/5/2020 | 2,000,000 | |
28,500,000 | Nuveen California AMT-Free Quality Municipal Income Fund, (Series 6) Weekly VRDPs, (Sumitomo Mitsui Banking Corp. LIQ), 0.150%, 11/5/2020 | 28,500,000 | |
3,000,000 | Oakland, CA, Tender Option Bond Receipts (Series 2020-XF0898) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.130%, 11/5/2020 | 3,000,000 | |
2,505,000 | Oxnard, CA School District, (Series 2018 G-8) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 2,505,000 | |
1,190,000 | Pittsburg, CA USD, Tender Option Bond Trust Receipts (Series 2017-XF0578) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.170%, 11/5/2020 | 1,190,000 | |
17,690,000 | Pomona, CA USD, Tender Option Bond Trust Certificates (Series 2017-XF2446) Weekly VRDNs, (Build America Mutual Assurance INS)/(Citibank N.A., New York LIQ), 0.140%, 11/5/2020 | 17,690,000 | |
800,000 | Riverside County, CA Asset Leasing Corp. (Riverside County, CA), (Series 2008A: Southwest Justice Center) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.120%, 11/4/2020 | 800,000 | |
10,500,000 | Riverside County, CA Public Financing Authority (Riverside County, CA), Tender Option Bond Trust Receipt (2017-ZF0538) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.220%, 11/5/2020 | 10,500,000 | |
5,000,000 | Riverside County, CA TRANs, 4.000%, 6/30/2021 | 5,122,453 | |
12,000,000 | Riverside County, CA, Teeter Plan Obligation Notes (2020 Series A) BANs, 0.500%, 10/21/2021 | 12,026,652 | |
2,000,000 | Sacramento, CA Area Flood Control Agency Consolidated Capital Assessment District No. 2, RBC Muni Products (Series G-118) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.270%, Optional Tender 4/1/2021 | 2,000,000 | |
6,000,000 | Sacramento, CA Municipal Utility District, Tender Option Bond Trust Receipts (Series 2020-ZF0943) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 6,000,000 | |
1,000,000 | San Bernardino, CA CCD, RBC Muni Products (Series G-78) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 1,000,000 | |
2,055,000 | San Bernardino, CA CCD, Tender Option Bond Trust Receipts (Series 2019-XF0786) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.170%, 11/5/2020 | 2,055,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 3,450,000 | San Diego County, CA (Museum of Contemporary Art San Diego), (Series 2004) Weekly VRDNs, (Northern Trust Co., Chicago, IL LOC), 0.150%, 11/5/2020 | $3,450,000 | |
15,000,000 | San Diego County, CA Water Authority, Commercial Paper Notes (Series 10), CP, 0.150%, Mandatory Tender 12/2/2020 | 15,000,000 | |
18,000,000 | San Diego County, CA Water Authority, Commercial Paper Notes (Series 10), CP, 0.180%, Mandatory Tender 12/7/2020 | 18,000,000 | |
15,000,000 | San Diego County, CA Water Authority, Commercial Paper Notes (Series 10), CP, 0.200%, Mandatory Tender 12/9/2020 | 15,000,000 | |
750,000 | San Diego, CA Housing Authority (220 W Broadway Development Partners, L.P.), (Series 2020 F: Courthouse Commons) Weekly VRDNs, (Mizuho Bank Ltd. LOC), 0.180%, 11/4/2020 | 750,000 | |
10,935,000 | San Diego, CA Public Facilities Authority (San Diego, CA), (Series A), CP, (Wells Fargo Bank, N.A. LOC), 0.190%, Mandatory Tender 1/13/2021 | 10,935,000 | |
4,800,000 | San Diego, CA USD, (Series A) TRANs, 5.000%, 6/30/2021 | 4,952,367 | |
3,000,000 | San Diego, CA USD, RBC Muni Products (Series 2018-G51) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 3,000,000 | |
5,724,000 | San Diego, CA Water Utility Fund, (Series B), CP, (Bank of America N.A. LOC), 0.290%, Mandatory Tender 1/11/2021 | 5,724,000 | |
27,083,000 | San Francisco, CA Public Utilities Commission (Wastewater Enterprise), (Series A-2), CP, (Bank of America N.A. LOC), 0.190%, Mandatory Tender 1/20/2021 | 27,083,000 | |
3,330,000 | San Francisco, CA Public Utilities Commission (Water Enterprise), Tender Option Bond Trust Receipts (Series 2018-XF0607) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.150%, 11/5/2020 | 3,330,000 | |
2,230,000 | San Mateo County, CA CCD, Tender Option Bond Trust Certificates (Series 2018-XM0712) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 2,230,000 | |
905,000 | Santa Barbara, CA USD, Tender Option Bond Trust Receipts (Series 2019-XF0791) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.170%, 11/5/2020 | 905,000 | |
2,985,000 | Santa Clara County, CA, (Series 2018-XF0646) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 2,985,000 | |
5,000,000 | Santa Clara Valley, CA Water District, (Series A), CP, (MUFG Bank Ltd. LOC), 0.170%, Mandatory Tender 12/3/2020 | 5,000,000 | |
3,000,000 | Sonoma County, CA Junior College District, (Series 2018 G-6) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 3,000,000 | |
4,000,000 | South Coast, CA Water District, Tender Option Bond Trust Certificates (Series 2020-XL0151) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 4,000,000 | |
2,410,000 | Southwestern CCD, CA, Tender Option Bond Trust Receipts (Series 2015-ZF0250) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.200%, 11/5/2020 | 2,410,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 4,750,000 | Sweetwater, CA Union High School District, RBC Muni Products, Inc. Trust (Series G-95) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | $4,750,000 | |
8,490,000 | Twin Rivers, CA USD, Tender Option Bond Trust Certificates (Series 2017-XF2442) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.170%, 11/5/2020 | 8,490,000 | |
10,000,000 | University of California (The Regents of), (Series A), CP, 0.170%, Mandatory Tender 12/3/2020 | 10,000,000 | |
4,000,000 | University of California (The Regents of), (Series A), CP, 0.180%, Mandatory Tender 12/4/2020 | 4,000,000 | |
9,120,000 | University of California (The Regents of), (Series A), CP, 0.250%, Mandatory Tender 1/6/2021 | 9,120,000 | |
10,000,000 | University of California (The Regents of), Tender Option Bond Trust Certificates (Series 2018-ZF2670) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 10,000,000 | |
2,675,000 | University of California (The Regents of), Tender Option Bond Trust Receipts (2016-XF0524) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.150%, 11/5/2020 | 2,675,000 | |
1,500,000 | University of California (The Regents of), Tender Option Bond Trust Receipts (Series 2018-ZM0660) Weekly VRDNs, (Bank of America N.A. LIQ), 0.130%, 11/5/2020 | 1,500,000 | |
2,220,000 | University of California (The Regents of), Tender Option Bond Trust Receipts (Series 2020-XF0921) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | 2,220,000 | |
6,800,000 | Victor Valley, CA CCD, Tender Option Bond Trust Receipts (Series 2020-XM0864) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | 6,800,000 | |
1,500,000 | Victorville, CA Joint Powers Financing Authority (Victorville, CA), (Series 2007A: Cogeneration Facility) Weekly VRDNs, (BNP Paribas SA LOC), 0.150%, 11/5/2020 | 1,500,000 | |
8,675,000 | Visalia, CA USD, Floater Certificates (Series 2018-ZM0657) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.170%, 11/5/2020 | 8,675,000 | |
5,500,000 | West Basin, CA Municipal Water District, CP, (Bank of the West, San Francisco, CA LOC), 0.210%, Mandatory Tender 2/2/2021 | 5,500,000 | |
13,585,000 | Western Placer, CA USD, Tender Option Bond Trust Receipts (Series 2017-XG0152) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 0.170%, 11/5/2020 | 13,585,000 | |
20,880,000 | Whittier, CA Health Facility Revenue Bonds (Presbyterian Intercommunity Hospital Obligated Group), Golden Blue 3a-7 (Series 2018-030) VRENs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.240%, 11/5/2020 | 20,880,000 | |
3,350,000 | Yosemite, CA CCD, RBC Muni Products (Series 2018-G50) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.130%, 11/5/2020 | 3,350,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
California— continued | |||
$ 5,087,000 | Yosemite, CA CCD, Tender Option Bond Trust Receipts (Series 2019-XF0772) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.140%, 11/5/2020 | $5,087,000 | |
TOTAL INVESTMENT IN SECURITIES—100.0% (AT AMORTIZED COST)2 | 1,157,646,005 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.0)%3 | (492,743) | ||
TOTAL NET ASSETS—100% | $1,157,153,262 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
BANs | —Bond Anticipation Notes | |
CCD | —Community College District | |
CP | —Commercial Paper | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
GTD | —Guaranteed | |
IDA | —Industrial Development Authority | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MFH | —Multi-Family Housing | |
PCFA | —Pollution Control Finance Authority | |
SIFMA | —Securities Industry and Financial Markets Association | |
TOBs | —Tender Option Bonds | |
TRANs | —Tax and Revenue Anticipation Notes | |
USD | —Unified School District | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.005 | 0.013 | 0.011 | 0.006 | 0.002 |
Net realized gain (loss) | 0.0001 | (0.000)1 | (0.000)1 | 0.0001 | 0.003 |
TOTAL FROM INVESTMENT OPERATIONS | 0.005 | 0.013 | 0.011 | 0.006 | 0.005 |
Less Distributions: | |||||
Distributions from net investment income | (0.005) | (0.013) | (0.011) | (0.006) | (0.002) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.003) |
TOTAL DISTRIBUTIONS | (0.005) | (0.013) | (0.011) | (0.006) | (0.005) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.53% | 1.28% | 1.10% | 0.56% | 0.49% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.27% | 0.28% | 0.28% | 0.28% | 0.18%4 |
Net investment income | 0.54% | 1.25% | 1.10% | 0.58% | 0.12% |
Expense waiver/reimbursement5 | 0.15% | 0.14% | 0.19% | 0.29% | 0.39% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $584,821 | $678,115 | $372,325 | $156,974 | $54,046 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016 was 0.18% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in securities, at amortized cost and fair value | $1,157,646,005 |
Cash | 98,292 |
Income receivable | 963,663 |
Receivable for shares sold | 17,096 |
Total Assets | 1,158,725,056 |
Liabilities: | |
Payable for shares redeemed | 1,478,589 |
Income distribution payable | 605 |
Payable for investment adviser fee (Note 5) | 4,310 |
Payable for administrative fee (Note 5) | 4,932 |
Payable for portfolio accounting fees | 50,829 |
Accrued expenses (Note 5) | 32,529 |
Total Liabilities | 1,571,794 |
Net assets for 1,156,998,777 shares outstanding | $1,157,153,262 |
Net Assets Consist of: | |
Paid-in capital | $1,156,998,742 |
Total distributable earnings (loss) | 154,520 |
Total Net Assets | $1,157,153,262 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Wealth Shares: | |
$584,821,462 ÷ 584,743,486 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$149,763,502 ÷ 149,743,337 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$262,597,183 ÷ 262,562,169 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$33,557,685 ÷ 33,553,210 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$126,413,430 ÷ 126,396,575 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $9,804,154 |
Dividends | 3,456 |
TOTAL INCOME | 9,807,610 |
Expenses: | |
Investment adviser fee (Note 5) | 3,725,918 |
Administrative fee (Note 5) | 972,976 |
Custodian fees | 42,805 |
Transfer agent fees (Note 2) | 528,467 |
Directors’/Trustees’ fees (Note 5) | 6,349 |
Auditing fees | 22,100 |
Legal fees | 23,464 |
Portfolio accounting fees | 205,571 |
Distribution services fee (Note 5) | 677,781 |
Other service fees (Notes 2 and 5) | 1,174,565 |
Share registration costs | 127,098 |
Printing and postage | 33,626 |
Miscellaneous (Note 5) | 11,740 |
TOTAL EXPENSES | 7,552,460 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (1,907,211) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (1,449,855) |
TOTAL WAIVERS AND REIMBURSEMENTS | (3,357,066) |
Net expenses | 4,195,394 |
Net investment income | 5,612,216 |
Net realized gain on investments | 133,432 |
Change in net assets resulting from operations | $5,745,648 |
Year Ended October 31 | 2020 | 2019 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $5,612,216 | $11,567,723 |
Net realized gain (loss) | 133,432 | 145,600 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 5,745,648 | 11,713,323 |
Distributions to Shareholders: | ||
Wealth Shares | (3,903,676) | (6,640,086) |
Service Shares | (553,743) | (1,426,554) |
Cash II Shares | (728,760) | (1,781,234) |
Cash Series Shares | (50,511) | (180,824) |
Capital Shares | (507,383) | (1,539,217) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (5,744,073) | (11,567,915) |
Share Transactions: | ||
Proceeds from sale of shares | 1,894,350,274 | 2,159,241,595 |
Net asset value of shares issued to shareholders in payment of distributions declared | 5,344,740 | 10,844,983 |
Cost of shares redeemed | (1,908,780,546) | (1,701,119,445) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (9,085,532) | 468,967,133 |
Change in net assets | (9,083,957) | 469,112,541 |
Net Assets: | ||
Beginning of period | 1,166,237,219 | 697,124,678 |
End of period | $1,157,153,262 | $1,166,237,219 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Wealth Shares | $31,199 | $(18,633) | $0 |
Service Shares | 121,413 | (99,118) | (19,638) |
Cash II Shares | 251,521 | (199,157) | (47,869) |
Cash Series Shares | 26,901 | (20,295) | (6,058) |
Capital Shares | 97,433 | (84,950) | (10,439) |
TOTAL | $528,467 | $(422,153) | $(84,004) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $365,098 | $(4,737) | $(145,501) |
Cash II Shares | 621,428 | (5,235) | (319,704) |
Cash Series Shares | 75,255 | (2,018) | (47,447) |
Capital Shares | 112,784 | (537) | (41,413) |
TOTAL | $1,174,565 | $(12,527) | $(554,065) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,017,560,763 | $1,017,560,763 | 1,141,963,195 | $1,141,963,195 |
Shares issued to shareholders in payment of distributions declared | 3,613,285 | 3,613,285 | 6,228,549 | 6,228,549 |
Shares redeemed | (1,114,456,355) | (1,114,456,355) | (842,486,518) | (842,486,518) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | (93,282,307) | $(93,282,307) | 305,705,226 | $305,705,226 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 271,796,390 | $271,796,390 | 287,493,797 | $287,493,797 |
Shares issued to shareholders in payment of distributions declared | 460,247 | 460,247 | 1,136,043 | 1,136,043 |
Shares redeemed | (269,118,074) | (269,118,074) | (282,202,706) | (282,202,706) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 3,138,563 | $3,138,563 | 6,427,134 | $6,427,134 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 319,438,665 | $319,438,665 | 428,844,355 | $428,844,355 |
Shares issued to shareholders in payment of distributions declared | 728,408 | 728,408 | 1,779,068 | 1,779,068 |
Shares redeemed | (264,648,897) | (264,648,897) | (238,718,930) | (238,718,930) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | 55,518,176 | $55,518,176 | 191,904,493 | $191,904,493 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 110,727,202 | $110,727,202 | 58,735,459 | $58,735,459 |
Shares issued to shareholders in payment of distributions declared | 50,250 | 50,250 | 176,116 | 176,116 |
Shares redeemed | (98,411,147) | (98,411,147) | (76,436,872) | (76,436,872) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 12,366,305 | $12,366,305 | (17,525,297) | $(17,525,297) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 174,827,254 | $174,827,254 | 242,204,789 | $242,204,789 |
Shares issued to shareholders in payment of distributions declared | 492,550 | 492,550 | 1,525,207 | 1,525,207 |
Shares redeemed | (162,146,073) | (162,146,073) | (261,274,419) | (261,274,419) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 13,173,731 | $13,173,731 | (17,544,423) | $(17,544,423) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (9,085,532) | $(9,085,532) | 468,967,133 | $468,967,133 |
2020 | 2019 | |
Tax-exempt income | $5,598,468 | $11,564,154 |
Ordinary income1 | $14,271 | $289 |
Long-term capital gains | $131,334 | $3,472 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed tax-exempt income | $21,109 |
Undistributed ordinary income2 | $68,213 |
Undistributed long-term capital gains | $65,198 |
2 | For tax purposes, short-term capital gains are considered ordinary income in determining distributable earnings. |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Percentage of Average Daily Net Assets of Class | |
Cash II Shares | 0.20% |
Cash Series Shares | 0.60% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Cash II Shares | $497,170 | $(270,515) |
Cash Series Shares | 180,611 | (106,591) |
TOTAL | $677,781 | $(377,106) |
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Beginning Account Value 5/1/2020 | Ending Account Value 10/31/2020 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,000.30 | $1.26 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,023.88 | $1.27 |
1 | Expenses are equal to the Fund annualized net expense ratio of 0.25%, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). |
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: April 1989 | 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) |
Thomas R. Donahue* Birth Date: October 20, 1958 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Director or Trustee of certain of the funds in the Federated Hermes Fund Family; Chief Financial Officer, Treasurer, Vice President and Assistant Secretary, Federated Hermes, Inc.; Chairman and Trustee, Federated Administrative Services; Chairman and Director, Federated Administrative Services, Inc.; Trustee and Treasurer, Federated Advisory Services Company; Director or Trustee and Treasurer, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, and Federated Investment Management Company; Director, MDTA LLC; Director, Executive Vice President and Assistant Secretary, Federated Securities Corp.; Director or Trustee and Chairman, Federated Services Company and Federated Shareholder Services Company; and Director and President, FII Holdings, Inc. Previous Positions: Director, Federated Hermes, Inc.; Assistant Secretary, Federated Investment Management Company, Federated Global Investment Management Company and Passport Research, LTD; Treasurer, Passport Research, LTD; Executive Vice President, Federated Securities Corp.; and Treasurer, FII Holdings, 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 |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: September 2013 | Principal Occupations: Director or Trustee 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, and Chairman of the Compensation Committee, 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 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; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; 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; and Director and Chair, North Catholic High School, 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 |
Charles F. Mansfield, Jr. Birth Date: April 10, 1945 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant and Author. Other Directorships Held: None. Qualifications: Mr. Mansfield has served as a Marine Corps officer and in several banking, business management, educational roles and directorship positions throughout his long career. He remains active as a Management Consultant and Author. |
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. Ms. Reilly also previously served as Chair of the Risk Management Committee for Holy Ghost Preparatory School, Philadelphia and Secretary and Chair of the Governance Committee, Oakland Catholic High School Board of Trustees, Pittsburgh. |
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 |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: September 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.); and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, 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 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. |
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. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Deborah A. Cunningham was named Chief Investment Officer of Federated Hermes’ money market products in 2004. She joined Federated Hermes in 1981 and has been a Senior Portfolio Manager since 1997 and an Executive Vice President of the Fund’s Adviser since 2009. Ms. Cunningham has received the Chartered Financial Analyst designation and holds an M.S.B.A. in Finance from Robert Morris College. |
Mary Jo Ochson Birth Date: September 12, 1953 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Mary Jo Ochson was named Chief Investment Officer of Federated Hermes’ tax-exempt, fixed-income products in 2004 and Chief Investment Officer of Federated Hermes’ Tax-Free Money Markets in 2010. She joined Federated Hermes in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of the Fund’s Adviser since 1996. Ms. Ochson has received the Chartered Financial Analyst designation and holds an M.B.A. in Finance from the University of Pittsburgh. |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
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Share Class | Ticker | Institutional | FFTXX | Premier | FTFXX |
Federated Hermes Institutional Tax-Free Cash Trust
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSR/0001623632-20-002126/donahuechrisphoto.jpg)
Donahue
![](https://capedge.com/proxy/N-CSR/0001623632-20-002126/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 96.4% |
Commercial Paper | 3.5% |
Other Assets and Liabilities—Net2 | 0.1% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 99.9% |
8-30 Days | 0.0% |
31-90 Days | 0.0% |
91-180 Days | 0.0% |
181 Days or more | 0.0% |
Other Assets and Liabilities—Net2 | 0.1% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 99.9% | ||
Alabama— 4.6% | |||
$ 1,080,000 | Alabama HFA MFH (Double Lake Ventures LLC), (2000 Series A:Turtle Lake) Weekly VRDNs, (FNMA LOC), 0.140%, 11/5/2020 | $1,080,000 | |
28,850,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series C) Daily VRDNs, 0.160%, 11/2/2020 | 28,850,000 | |
8,000,000 | Mobile County, AL IDA Gulf Opportunity Zone (SSAB Alabama, Inc.), (Series 2011) Weekly VRDNs, (Nordea Bank Abp LOC), 0.160%, 11/5/2020 | 8,000,000 | |
5,100,000 | Mobile, AL IDB (HighProv, LLC), (Series 2006) Weekly VRDNs, (FHLB of Dallas LOC), 0.160%, 11/5/2020 | 5,100,000 | |
9,125,000 | Tuscaloosa County, AL Port Authority (Tuscaloosa Riverfront Development, LLC), (Series 2007: Gulf Opportunity Zone Bonds) Weekly VRDNs, (FHLB of Atlanta LOC), 0.170%, 11/5/2020 | 9,125,000 | |
TOTAL | 52,155,000 | ||
Alaska— 1.2% | |||
13,660,000 | Alaska State Housing Finance Corp., (Series 2007B) Weekly VRDNs, (FHLB of Des Moines LIQ), 0.120%, 11/5/2020 | 13,660,000 | |
Arizona— 1.6% | |||
4,000,000 | Maricopa County, AZ, IDA Solid Waste Disposal (DC Paloma 2 LLC), (Series 2009) Weekly VRDNs, (CoBank, ACB LOC), 0.170%, 11/5/2020 | 4,000,000 | |
14,000,000 | Yavapai County, AZ IDA - Recovery Zone Facility (Skanon Investments, Inc.), (Series 2010: Drake Cement Project) Weekly VRDNs, (Citibank N.A., New York LOC), 0.150%, 11/5/2020 | 14,000,000 | |
TOTAL | 18,000,000 | ||
California— 2.0% | |||
5,000,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series BB: Uptown Newport Apartments) Weekly VRDNs, (FHLB of Des Moines LOC)/(FHLB of San Francisco LOC), 0.160%, 11/5/2020 | 5,000,000 | |
17,780,000 | Victorville, CA Joint Powers Financing Authority (Victorville, CA), (Series 2007A: Cogeneration Facility) Weekly VRDNs, (BNP Paribas SA LOC), 0.150%, 11/5/2020 | 17,780,000 | |
TOTAL | 22,780,000 | ||
Connecticut— 1.2% | |||
6,120,000 | Connecticut State Health & Educational Facilities (CIL Community Resources Inc.), (Series A) Weekly VRDNs, (HSBC Bank USA, N.A. LOC), 0.150%, 11/5/2020 | 6,120,000 | |
3,700,000 | Connecticut State HEFA (Westminster School), (Series C) Weekly VRDNs, (Bank of America N.A. LOC), 0.170%, 11/5/2020 | 3,700,000 | |
4,050,000 | Shelton, CT Housing Authority (Crosby Commons), (Series 1998) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/5/2020 | 4,050,000 | |
TOTAL | 13,870,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Florida— 12.3% | |||
$ 3,810,000 | Coconut Creek, FL (Junior Achievement of South Florida, Inc.), (Series 2007) Weekly VRDNs, (TD Bank, N.A. LOC), 0.180%, 11/5/2020 | $3,810,000 | |
43,300,000 | Escambia County, FL Solid Waste Disposal (Gulf Power Co.) Daily VRDNs, 0.150%, 11/2/2020 | 43,300,000 | |
16,800,000 | Jacksonville, FL EDC (JEA, FL Electric System), (Series 2000 F-2), CP, (U.S. Bank, N.A. LIQ), 0.210%, Mandatory Tender 11/5/2020 | 16,800,000 | |
22,465,000 | Jacksonville, FL EDC (JEA, FL Electric System), (Series 2000-A), CP, (U.S. Bank, N.A. LIQ), 0.210%, Mandatory Tender 11/5/2020 | 22,465,000 | |
5,000,000 | JEA, FL Electric System, (Series Three 2008B-2: Senior Revenue Bonds) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.150%, 11/4/2020 | 5,000,000 | |
25,000,000 | JEA, FL Water & Sewer System, (2008 Series B: Senior Revenue Bonds) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/4/2020 | 25,000,000 | |
3,000,000 | Martin County, FL PCRB (Florida Power & Light Co.), (Series 2000) Daily VRDNs, 0.130%, 11/2/2020 | 3,000,000 | |
20,065,000 | St. Lucie County, FL PCRB (Florida Power & Light Co.), (Series 2000) Daily VRDNs, 0.140%, 11/2/2020 | 20,065,000 | |
TOTAL | 139,440,000 | ||
Georgia— 1.2% | |||
11,000,000 | Monroe County, GA Development Authority Pollution Control (Gulf Power Co.), (First Series of 2002) Daily VRDNs, 0.150%, 11/2/2020 | 11,000,000 | |
3,000,000 | Roswell, GA Housing Authority (Belcourt Ltd.), MFH Refunding Revenue Bonds (Series 1988A) Weekly VRDNs, (Northern Trust Co., Chicago, IL LOC), 0.160%, 11/4/2020 | 3,000,000 | |
TOTAL | 14,000,000 | ||
Indiana— 0.8% | |||
1,215,000 | Indianapolis, IN MFH (Washington Pointe, LP), (Series 2009A) Weekly VRDNs, (FNMA LOC), 0.120%, 11/6/2020 | 1,215,000 | |
8,170,000 | Valparaiso, IN EDRB (Pines Village Retirement Community, Inc.), (Series 2008) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.240%, 11/5/2020 | 8,170,000 | |
TOTAL | 9,385,000 | ||
Iowa— 11.7% | |||
8,900,000 | Iowa Finance Authority - Health Facilities (UnityPoint Health), (Series 2013B-1) Daily VRDNs, (TD Bank, N.A. LOC), 0.100%, 11/2/2020 | 8,900,000 | |
38,000,000 | Iowa Finance Authority (Archer-Daniels-Midland Co.), (Series 2012) Weekly VRDNs, 0.170%, 11/4/2020 | 38,000,000 | |
6,500,000 | Iowa Finance Authority (Archer-Daniels-Midland Co.), Midwestern Disaster Area Revenue Bonds (Series 2011) Weekly VRDNs, 0.170%, 11/4/2020 | 6,500,000 | |
15,100,000 | Iowa Finance Authority (Cargill, Inc.), Midwestern Disaster Area Economic Development (Series 2009A) Weekly VRDNs, 0.150%, 11/5/2020 | 15,100,000 | |
27,100,000 | Iowa Finance Authority (Cargill, Inc.), Midwestern Disaster Area Economic Development (Series 2011A) Weekly VRDNs, 0.150%, 11/5/2020 | 27,100,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Iowa— continued | |||
$36,500,000 | Iowa Finance Authority (HF Chlor-Alkali, LLC), (Series 2012) Weekly VRDNs, (GTD by Cargill, Inc.), 0.160%, 11/5/2020 | $36,500,000 | |
650,000 | Iowa Finance Authority (Trinity Healthcare Credit Group), (Series 2000D) Weekly VRDNs, 0.140%, 11/5/2020 | 650,000 | |
TOTAL | 132,750,000 | ||
Louisiana— 3.4% | |||
20,000,000 | Ascension Parish, LA IDB (BASF Corp.), (Series 2009) Weekly VRDNs, (GTD by BASF SE), 0.270%, 11/4/2020 | 20,000,000 | |
12,000,000 | Louisiana Local Government Environmental Facilities CDA (Isidore Newman School), (Series 2002) Weekly VRDNs, (FHLB of Dallas LOC), 0.230%, 11/4/2020 | 12,000,000 | |
3,235,000 | Louisiana Local Government Environmental Facilities CDA (The Academy of the Sacred Heart of New Orleans), (Series 2004) Weekly VRDNs, (FHLB of Dallas LOC), 0.230%, 11/4/2020 | 3,235,000 | |
3,350,000 | Louisiana Local Government Environmental Facilities CDA (The Christ Episcopal Church in Covington), (Series 2004) Weekly VRDNs, (FHLB of Dallas LOC), 0.230%, 11/4/2020 | 3,350,000 | |
TOTAL | 38,585,000 | ||
Maryland— 0.1% | |||
595,000 | Maryland State Economic Development Corp. (Maryland Academy of Sciences), (Series 2003: Maryland Science Center) Weekly VRDNs, (Bank of America N.A. LOC), 0.180%, 11/5/2020 | 595,000 | |
Massachusetts— 0.2% | |||
1,100,000 | Massachusetts Development Finance Agency (Boston University), (Series U-6C) Daily VRDNs, (TD Bank, N.A. LOC), 0.090%, 11/2/2020 | 1,100,000 | |
1,250,000 | Massachusetts State Development Finance Agency (Tufts University), (Series 2018 R) Daily VRDNs, (U.S. Bank, N.A. LIQ), 0.100%, 11/2/2020 | 1,250,000 | |
TOTAL | 2,350,000 | ||
Michigan— 5.9% | |||
5,210,000 | Kent Hospital Finance Authority, MI (Spectrum Health), (Series 2008B-3) Weekly VRDNs, (Wells Fargo Bank, N.A. LIQ), 0.120%, 11/4/2020 | 5,210,000 | |
8,140,000 | Michigan State University (Board of Trustees), (Series 2005) Weekly VRDNs, (PNC Bank, N.A. LIQ), 0.150%, 11/4/2020 | 8,140,000 | |
16,200,000 | Michigan Strategic Fund (Kroger Co.), (Series 2010) Weekly VRDNs, (MUFG Bank Ltd. LOC), 0.160%, 11/5/2020 | 16,200,000 | |
12,015,000 | St. Joseph, MI Hospital Finance Authority (Lakeland Hospitals at Niles & St. Joseph Obligated Group), (Series 2002) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.220%, 11/5/2020 | 12,015,000 | |
25,115,000 | St. Joseph, MI Hospital Finance Authority (Lakeland Hospitals at Niles & St. Joseph Obligated Group), (Series 2006) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.220%, 11/5/2020 | 25,115,000 | |
TOTAL | 66,680,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Minnesota— 0.7% | |||
$ 7,500,000 | Moorhead, MN (American Crystal Sugar Co.), Series 2020 Weekly VRDNs, (CoBank, ACB LOC), 0.160%, 11/5/2020 | $7,500,000 | |
Mississippi— 3.9% | |||
44,650,000 | Perry County, MS (Georgia-Pacific LLC), (Series 2002) Weekly VRDNs, 0.250%, 11/5/2020 | 44,650,000 | |
Multi-State— 13.0% | |||
24,000,000 | Nuveen AMT-Free Municipal Credit Income Fund, (Series 4) Weekly VRDPs, (Citibank N.A., New York LIQ), 0.170%, 11/5/2020 | 24,000,000 | |
41,000,000 | Nuveen AMT-Free Municipal Credit Income Fund, (Series 5) Weekly VRDPs, (Societe Generale, Paris LIQ), 0.170%, 11/5/2020 | 41,000,000 | |
6,000,000 | Nuveen Enhanced AMT-Free Municipal Credit Opportunities Fund, (Series 2) Weekly VRDPs, (JPMorgan Chase Bank, N.A. LIQ), 0.190%, 11/5/2020 | 6,000,000 | |
9,000,000 | Nuveen Enhanced AMT-Free Quality Municipal Income Fund, (Series 3) Weekly VRDPs, (TD Bank, N.A. LIQ), 0.190%, 11/5/2020 | 9,000,000 | |
47,100,000 | Nuveen Enhanced AMT-Free Quality Municipal Income Fund, (Series 4) Weekly VRDPs, (Barclays Bank PLC LIQ), 0.190%, 11/5/2020 | 47,100,000 | |
20,000,000 | Nuveen Enhanced AMT-Free Quality Municipal Income Fund, VRDP(Series 5-1000) Weekly VRDPs, (Sumitomo Mitsui Banking Corp. LIQ)/(Sumitomo Mitsui Banking Corp. LOC), 0.170%, 11/5/2020 | 20,000,000 | |
TOTAL | 147,100,000 | ||
Nebraska— 0.1% | |||
1,400,000 | Washington County, NE (Cargill, Inc.), (Series 2010) Weekly VRDNs, 0.160%, 11/5/2020 | 1,400,000 | |
Nevada— 1.1% | |||
12,550,000 | Clark County, NV Airport System, Subordinate Lien Revenue Bonds (Series 2008 D-2A) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.110%, 11/4/2020 | 12,550,000 | |
New Jersey— 0.9% | |||
10,550,000 | New Jersey Health Care Facilities Financing Authority (AHS Hospital Corp.), (Series 2008B) Weekly VRDNs, (Bank of America N.A. LOC), 0.130%, 11/5/2020 | 10,550,000 | |
New York— 8.2% | |||
33,000,000 | Battery Park, NY City Authority, (Series 2019D) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.100%, 11/5/2020 | 33,000,000 | |
1,000,000 | New York City, NY Municipal Water Finance Authority, (Series 2015 BB-4) Daily VRDNs, (Barclays Bank PLC LIQ), 0.110%, 11/2/2020 | 1,000,000 | |
6,800,000 | New York City, NY Transitional Finance Authority, (Fiscal 2019 Subseries B-4) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 11/2/2020 | 6,800,000 | |
1,000,000 | New York City, NY Transitional Finance Authority, (Series 2015A-3) Daily VRDNs, (Mizuho Bank Ltd. LIQ), 0.130%, 11/2/2020 | 1,000,000 | |
1,660,000 | New York City, NY Transitional Finance Authority, Fiscal 2018 (Subseries C-6) Weekly VRDNs, (Sumitomo Mitsui Banking Corp. LIQ), 0.140%, 11/5/2020 | 1,660,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$40,000,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 1) Weekly VRDPs, (Citibank N.A., New York LIQ), 0.170%, 11/5/2020 | $40,000,000 | |
10,000,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 2) Weekly VRDPs, (Citibank N.A., New York LIQ), 0.170%, 11/5/2020 | 10,000,000 | |
TOTAL | 93,460,000 | ||
North Carolina— 0.2% | |||
1,850,000 | Charlotte-Mecklenburg Hospital Authority, NC (Atrium Health (previously Carolinas HealthCare) System), (Series 2007B) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 11/2/2020 | 1,850,000 | |
Ohio— 2.2% | |||
7,010,000 | Franklin County, OH Hospital Facility Authority (Nationwide Children’s Hospital), (Series 2008B) Weekly VRDNs, 0.080%, 11/5/2020 | 7,010,000 | |
8,835,000 | Franklin County, OH Hospital Facility Authority (Nationwide Children’s Hospital), (Series 2013B) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 11/5/2020 | 8,835,000 | |
9,030,000 | Franklin County, OH Hospital Facility Authority (Nationwide Children’s Hospital), (Series 2014) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 11/5/2020 | 9,030,000 | |
TOTAL | 24,875,000 | ||
Oregon— 0.5% | |||
5,500,000 | Oregon State Facilities Authority (PeaceHealth), (2018 Series B) Daily VRDNs, (TD Bank, N.A. LOC), 0.100%, 11/2/2020 | 5,500,000 | |
Pennsylvania— 5.6% | |||
1,075,000 | Beaver County, PA IDA (Concordia Lutheran Obligated Group), (Series 2018A) Weekly VRDNs, (BMO Harris Bank, N.A. LOC), 0.130%, 11/5/2020 | 1,075,000 | |
6,395,000 | Butler County, PA General Authority (Iroquois School District), (Series 2011) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/ (PNC Bank, N.A. LIQ), 0.140%, 11/5/2020 | 6,395,000 | |
5,000,000 | Haverford Twp., PA School District, (Series 2009) Weekly VRDNs, (TD Bank, N.A. LOC), 0.100%, 11/5/2020 | 5,000,000 | |
4,680,000 | Pennsylvania HFA (Foxwood Manor Apartments), (Series 2008-O) Weekly VRDNs, (FHLMC LOC), 0.120%, 11/5/2020 | 4,680,000 | |
24,100,000 | Pennsylvania State Turnpike Commission, (Series A of 2020) Weekly VRDNs, (Barclays Bank PLC LOC), 0.100%, 11/5/2020 | 24,100,000 | |
500,000 | Philadelphia, PA, (Series 2009B) Weekly VRDNs, (Barclays Bank PLC LOC), 0.100%, 11/5/2020 | 500,000 | |
21,255,000 | Pittsburgh & Allegheny County, PA Sports & Exhibition Authority, (Series A of 2007) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(PNC Bank, N.A. LIQ), 0.150%, 11/5/2020 | 21,255,000 | |
TOTAL | 63,005,000 | ||
South Carolina— 0.3% | |||
3,760,000 | South Carolina Jobs-EDA (Brashier Charter, LLC), (Series 2008) Weekly VRDNs, (Truist Bank LOC), 0.140%, 11/4/2020 | 3,760,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Tennessee— 3.4% | |||
$ 4,130,000 | Blount County, TN Public Building Authority (Bradley County, TN), (Series E-6-A) Weekly VRDNs, (Truist Bank LOC), 0.180%, 11/4/2020 | $4,130,000 | |
34,400,000 | Shelby County, TN Health Education & Housing Facilities Board (Methodist Le Bonheur Healthcare), (Series 2008A) Daily VRDNs, (Assured Guaranty Municipal Corp. INS)/(U.S. Bank, N.A. LIQ), 0.130%, 11/2/2020 | 34,400,000 | |
TOTAL | 38,530,000 | ||
Texas— 3.2% | |||
2,660,000 | Harris County, TX Education Facilities Finance Corp. (Methodist Hospital, Harris County, TX), (Series 2020B) Daily VRDNs, 0.100%, 11/2/2020 | 2,660,000 | |
9,910,000 | Harris County, TX HFDC (Methodist Hospital, Harris County, TX), (Subseries 2008A-1) Daily VRDNs, 0.100%, 11/2/2020 | 9,910,000 | |
13,900,000 | Harris County, TX Hospital District, Senior Lien Refunding Revenue Bonds (Series 2010) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.140%, 11/5/2020 | 13,900,000 | |
9,525,000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Baylor Scott & White Health Care System), (Series 2011C) Daily VRDNs, (TD Bank, N.A. LOC), 0.100%, 11/2/2020 | 9,525,000 | |
TOTAL | 35,995,000 | ||
Utah— 6.4% | |||
70,500,000 | Emery County, UT (Pacificorp), PCRB (Series 1994) Weekly VRDNs, 0.180%, 11/4/2020 | 70,500,000 | |
2,000,000 | St. George, UT IDRB (Apogee Enterprises, Inc.), (Series 2010) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.170%, 11/5/2020 | 2,000,000 | |
TOTAL | 72,500,000 | ||
Virginia— 1.0% | |||
10,725,000 | Hampton Roads, VA Sanitation District, (Series 2016B) Weekly VRDNs, 0.120%, 11/5/2020 | 10,725,000 | |
West Virginia— 2.0% | |||
22,600,000 | West Virginia State Hospital Finance Authority (Cabell Huntington Hospital), (Series 2008A) Weekly VRDNs, (Truist Bank LOC), 0.180%, 11/5/2020 | 22,600,000 | |
Wisconsin— 1.0% | |||
11,000,000 | Wisconsin State, (Series A) Weekly VRDNs, 0.150%, 11/5/2020 | 11,000,000 | |
TOTAL INVESTMENT IN SECURITIES—99.9% (AT AMORTIZED COST)2 | 1,131,800,000 | ||
OTHER ASSETS AND LIABILITIES - NET—0.1%3 | 1,599,020 | ||
TOTAL NET ASSETS—100% | $1,133,399,020 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
CDA | —Community Development Authority | |
CP | —Commercial Paper | |
EDA | —Economic Development Authority | |
EDC | —Economic Development Commission | |
EDRB | —Economic Development Revenue Bond | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
FNMA | —Federal National Mortgage Association | |
GTD | —Guaranteed | |
HEFA | —Health and Education Facilities Authority | |
HFA | —Housing Finance Authority | |
HFDC | —Health Facility Development Corporation | |
IDA | —Industrial Development Authority | |
IDB | —Industrial Development Bond | |
IDRB | —Industrial Development Revenue Bond | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MFH | —Multi-Family Housing | |
PCRB | —Pollution Control Revenue Bond | |
UT | —Unlimited Tax | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds |
Year Ended October 31, | Period Ended 10/31/20161 | ||||
2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $1.0000 | $1.0000 | $1.0000 | $1.0000 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income | 0.0060 | 0.0137 | 0.0114 | 0.0059 | 0.0020 |
Total From Investment Operations | 0.0060 | 0.0137 | 0.0114 | 0.0059 | 0.0020 |
Less Distributions: | |||||
Distributions from net investment income | (0.0060) | (0.0137) | (0.0114) | (0.0059) | (0.0020) |
Net Asset Value, End of Period | $1.0000 | $1.0000 | $1.0000 | $1.0000 | $1.0000 |
Total Return2 | 0.60% | 1.38% | 1.15% | 0.59% | 0.20% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.19% | 0.20% | 0.20% | 0.20% | 0.20%4 |
Net investment income | 0.64% | 1.36% | 1.17% | 0.59% | 0.54%4 |
Expense waiver/reimbursement5 | 0.18% | 0.16% | 0.18% | 0.20% | 0.22%4 |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $735,236 | $855,998 | $594,047 | $301,268 | $231,159 |
1 | Reflects operations for the period from February 26, 2016 (date of initial public investment) to October 31, 2016. |
2 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | Computed on an annualized basis. |
5 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.0000 | $1.0000 | $1.0000 | $1.0000 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income | 0.0063 | 0.0142 | 0.0119 | 0.0064 | 0.0020 |
Net realized gain (loss) | — | — | — | — | (0.0000)1 |
Total From Investment Operations | 0.0063 | 0.0142 | 0.0119 | 0.0064 | 0.0020 |
Less Distributions: | |||||
Distributions from net investment income | (0.0063) | (0.0142) | (0.0119) | (0.0064) | (0.0020) |
Distributions from net realized gain | — | — | — | — | (0.0000)1 |
Total Distributions | (0.0063) | (0.0142) | (0.0119) | (0.0064) | (0.0020) |
Net Asset Value, End of Period | $1.0000 | $1.0000 | $1.0000 | $1.0000 | $1.0000 |
Total Return2 | 0.64% | 1.43% | 1.20% | 0.64% | 0.25% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.15% | 0.15% | 0.15% | 0.15% | 0.14% |
Net investment income | 0.72% | 1.42% | 1.21% | 0.65% | 0.26% |
Expense waiver/reimbursement4 | 0.17% | 0.16% | 0.18% | 0.20% | 0.36% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $398,163 | $515,446 | $420,808 | $254,460 | $155,223 |
1 | Represents less than $0.0001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in securities, at amortized cost and fair value | $1,131,800,000 |
Cash | 127,796 |
Income receivable | 165,204 |
Receivable for shares sold | 2,861,605 |
Total Assets | 1,134,954,605 |
Liabilities: | |
Payable for shares redeemed | 1,415,122 |
Income distribution payable | 5,339 |
Payable to adviser (Note 5) | 1,030 |
Payable for administrative fee (Note 5) | 4,819 |
Payable for custodian fees | 8,740 |
Payable for share registration costs | 19,290 |
Payable for transfer agent fees | 18,816 |
Payable for other service fees (Notes 2 and 5) | 10,489 |
Accrued expenses (Note 5) | 71,940 |
Total Liabilities | 1,555,585 |
Net assets for 1,133,390,587 shares outstanding | $1,133,399,020 |
Net Assets Consist of: | |
Paid-in capital | $1,133,390,587 |
Total distributable earnings (loss) | 8,433 |
Total Net Assets | $1,133,399,020 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$735,236,160 ÷ 735,236,533 shares outstanding, no par value, unlimited shares authorized | $1.0000 |
Premier Shares: | |
$398,162,860 ÷ 398,154,054 shares outstanding, no par value, unlimited shares authorized | $1.0000 |
Investment Income: | |
Interest | $11,147,458 |
Dividends | 26,405 |
TOTAL INCOME | 11,173,863 |
Expenses: | |
Investment adviser fee (Note 5) | 2,634,962 |
Administrative fee (Note 5) | 1,032,385 |
Custodian fees | 50,503 |
Transfer agent fees | 61,057 |
Directors’/Trustees’ fees (Note 5) | 7,314 |
Auditing fees | 20,400 |
Legal fees | 7,977 |
Portfolio accounting fees | 196,635 |
Other service fees (Notes 2 and 5) | 386,408 |
Share registration costs | 135,722 |
Printing and postage | 21,330 |
Miscellaneous (Note 5) | 43,291 |
TOTAL EXPENSES | 4,597,984 |
Waivers and Reimbursement: | |
Waiver of investment adviser fee (Note 5) | (2,204,802) |
Waivers/reimbursement of other operating expenses (Notes 2 and 5) | (108,611) |
TOTAL WAIVERS AND REIMBURSEMENT | (2,313,413) |
Net expenses | 2,284,571 |
Net investment income | 8,889,292 |
Change in net assets resulting from operations | $8,889,292 |
Year Ended October 31 | 2020 | 2019 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $8,889,292 | $16,671,954 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 8,889,292 | 16,671,954 |
Distributions to Shareholders: | ||
Institutional Shares | (4,991,509) | (9,572,444) |
Premier Shares | (3,892,000) | (7,103,992) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (8,883,509) | (16,676,436) |
Share Transactions: | ||
Proceeds from sale of shares | 4,946,146,680 | 3,381,084,951 |
Net asset value of shares issued to shareholders in payment of distributions declared | 3,833,826 | 8,199,101 |
Cost of shares redeemed | (5,188,031,333) | (3,032,691,453) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (238,050,827) | 356,592,599 |
Change in net assets | (238,045,044) | 356,588,117 |
Net Assets: | ||
Beginning of period | 1,371,444,064 | 1,014,855,947 |
End of period | $1,133,399,020 | $1,371,444,064 |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Institutional Shares | $386,408 | $(22,512) | $(86,099) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,542,541,049 | $1,542,541,049 | 1,456,449,182 | $1,456,449,182 |
Shares issued to shareholders in payment of distributions declared | 1,427,123 | 1,427,123 | 3,655,957 | 3,655,957 |
Shares redeemed | (1,664,731,646) | (1,664,731,646) | (1,198,149,322) | (1,198,149,322) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (120,763,474) | $(120,763,474) | 261,955,817 | $261,955,817 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Premier Shares: | Shares | Amount | Shares | Amount |
Shares sold | 3,403,605,631 | $3,403,605,631 | 1,924,635,769 | $1,924,635,769 |
Shares issued to shareholders in payment of distributions declared | 2,406,703 | 2,406,703 | 4,543,144 | 4,543,144 |
Shares redeemed | (3,523,299,687) | (3,523,299,687) | (1,834,542,131) | (1,834,542,131) |
NET CHANGE RESULTING FROM PREMIER SHARE TRANSACTIONS | (117,287,353) | $(117,287,353) | 94,636,782 | $94,636,782 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (238,050,827) | $(238,050,827) | 356,592,599 | $356,592,599 |
2020 | 2019 | |
Tax-exempt income | $8,883,509 | $16,676,436 |
Undistributed tax-exempt income | $8,469 |
Capital loss carryforwards | $(36) |
Short-Term | Long-Term | Total |
$36 | $— | $36 |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
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December 23, 2020
Beginning Account Value 5/1/2020 | Ending Account Value 10/31/2020 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,000.10 | $0.96 |
Premier Shares | $1,000 | $1,000.20 | $0.75 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,024.18 | $0.97 |
Premier Shares | $1,000 | $1,024.38 | $0.76 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Institutional Shares | 0.19% |
Premier Shares | 0.15% |
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: April 1989 | 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) |
Thomas R. Donahue* Birth Date: October 20, 1958 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Director or Trustee of certain of the funds in the Federated Hermes Fund Family; Chief Financial Officer, Treasurer, Vice President and Assistant Secretary, Federated Hermes, Inc.; Chairman and Trustee, Federated Administrative Services; Chairman and Director, Federated Administrative Services, Inc.; Trustee and Treasurer, Federated Advisory Services Company; Director or Trustee and Treasurer, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, and Federated Investment Management Company; Director, MDTA LLC; Director, Executive Vice President and Assistant Secretary, Federated Securities Corp.; Director or Trustee and Chairman, Federated Services Company and Federated Shareholder Services Company; and Director and President, FII Holdings, Inc. Previous Positions: Director, Federated Hermes, Inc.; Assistant Secretary, Federated Investment Management Company, Federated Global Investment Management Company and Passport Research, LTD; Treasurer, Passport Research, LTD; Executive Vice President, Federated Securities Corp.; and Treasurer, FII Holdings, 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 |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: September 2013 | Principal Occupations: Director or Trustee 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, and Chairman of the Compensation Committee, 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 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; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; 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; and Director and Chair, North Catholic High School, 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 |
Charles F. Mansfield, Jr. Birth Date: April 10, 1945 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant and Author. Other Directorships Held: None. Qualifications: Mr. Mansfield has served as a Marine Corps officer and in several banking, business management, educational roles and directorship positions throughout his long career. He remains active as a Management Consultant and Author. |
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. Ms. Reilly also previously served as Chair of the Risk Management Committee for Holy Ghost Preparatory School, Philadelphia and Secretary and Chair of the Governance Committee, Oakland Catholic High School Board of Trustees, Pittsburgh. |
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 |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: September 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.); and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, 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 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. |
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. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Deborah A. Cunningham was named Chief Investment Officer of Federated Hermes’ money market products in 2004. She joined Federated Hermes in 1981 and has been a Senior Portfolio Manager since 1997 and an Executive Vice President of the Fund’s Adviser since 2009. Ms. Cunningham has received the Chartered Financial Analyst designation and holds an M.S.B.A. in Finance from Robert Morris College. |
Mary Jo Ochson Birth Date: September 12, 1953 CHIEF INVESTMENT OFFICER Officer since: May 2004 | Principal Occupations: Mary Jo Ochson was named Chief Investment Officer of Federated Hermes’ tax-exempt, fixed-income products in 2004 and Chief Investment Officer of Federated Hermes’ Tax-Free Money Markets in 2010. She joined Federated Hermes in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of the Fund’s Adviser since 1996. Ms. Ochson has received the Chartered Financial Analyst designation and holds an M.B.A. in Finance from the University of Pittsburgh. |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N666
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Share Class | Ticker | Institutional | FFTXX |
Federated Hermes Institutional Tax-Free Cash Trust
A Portfolio of Federated Hermes Money Market Obligations Trust
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Donahue
![](https://capedge.com/proxy/N-CSR/0001623632-20-002126/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 96.4% |
Commercial Paper | 3.5% |
Other Assets and Liabilities—Net2 | 0.1% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 99.9% |
8-30 Days | 0.0% |
31-90 Days | 0.0% |
91-180 Days | 0.0% |
181 Days or more | 0.0% |
Other Assets and Liabilities—Net2 | 0.1% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 99.9% | ||
Alabama— 4.6% | |||
$ 1,080,000 | Alabama HFA MFH (Double Lake Ventures LLC), (2000 Series A:Turtle Lake) Weekly VRDNs, (FNMA LOC), 0.140%, 11/5/2020 | $1,080,000 | |
28,850,000 | Columbia, AL IDB PCRB (Alabama Power Co.), (Series C) Daily VRDNs, 0.160%, 11/2/2020 | 28,850,000 | |
8,000,000 | Mobile County, AL IDA Gulf Opportunity Zone (SSAB Alabama, Inc.), (Series 2011) Weekly VRDNs, (Nordea Bank Abp LOC), 0.160%, 11/5/2020 | 8,000,000 | |
5,100,000 | Mobile, AL IDB (HighProv, LLC), (Series 2006) Weekly VRDNs, (FHLB of Dallas LOC), 0.160%, 11/5/2020 | 5,100,000 | |
9,125,000 | Tuscaloosa County, AL Port Authority (Tuscaloosa Riverfront Development, LLC), (Series 2007: Gulf Opportunity Zone Bonds) Weekly VRDNs, (FHLB of Atlanta LOC), 0.170%, 11/5/2020 | 9,125,000 | |
TOTAL | 52,155,000 | ||
Alaska— 1.2% | |||
13,660,000 | Alaska State Housing Finance Corp., (Series 2007B) Weekly VRDNs, (FHLB of Des Moines LIQ), 0.120%, 11/5/2020 | 13,660,000 | |
Arizona— 1.6% | |||
4,000,000 | Maricopa County, AZ, IDA Solid Waste Disposal (DC Paloma 2 LLC), (Series 2009) Weekly VRDNs, (CoBank, ACB LOC), 0.170%, 11/5/2020 | 4,000,000 | |
14,000,000 | Yavapai County, AZ IDA - Recovery Zone Facility (Skanon Investments, Inc.), (Series 2010: Drake Cement Project) Weekly VRDNs, (Citibank N.A., New York LOC), 0.150%, 11/5/2020 | 14,000,000 | |
TOTAL | 18,000,000 | ||
California— 2.0% | |||
5,000,000 | California Statewide Communities Development Authority MFH (Uptown Newport Building Owner, LP), (2017 Series BB: Uptown Newport Apartments) Weekly VRDNs, (FHLB of Des Moines LOC)/(FHLB of San Francisco LOC), 0.160%, 11/5/2020 | 5,000,000 | |
17,780,000 | Victorville, CA Joint Powers Financing Authority (Victorville, CA), (Series 2007A: Cogeneration Facility) Weekly VRDNs, (BNP Paribas SA LOC), 0.150%, 11/5/2020 | 17,780,000 | |
TOTAL | 22,780,000 | ||
Connecticut— 1.2% | |||
6,120,000 | Connecticut State Health & Educational Facilities (CIL Community Resources Inc.), (Series A) Weekly VRDNs, (HSBC Bank USA, N.A. LOC), 0.150%, 11/5/2020 | 6,120,000 | |
3,700,000 | Connecticut State HEFA (Westminster School), (Series C) Weekly VRDNs, (Bank of America N.A. LOC), 0.170%, 11/5/2020 | 3,700,000 | |
4,050,000 | Shelton, CT Housing Authority (Crosby Commons), (Series 1998) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/5/2020 | 4,050,000 | |
TOTAL | 13,870,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Florida— 12.3% | |||
$ 3,810,000 | Coconut Creek, FL (Junior Achievement of South Florida, Inc.), (Series 2007) Weekly VRDNs, (TD Bank, N.A. LOC), 0.180%, 11/5/2020 | $3,810,000 | |
43,300,000 | Escambia County, FL Solid Waste Disposal (Gulf Power Co.) Daily VRDNs, 0.150%, 11/2/2020 | 43,300,000 | |
16,800,000 | Jacksonville, FL EDC (JEA, FL Electric System), (Series 2000 F-2), CP, (U.S. Bank, N.A. LIQ), 0.210%, Mandatory Tender 11/5/2020 | 16,800,000 | |
22,465,000 | Jacksonville, FL EDC (JEA, FL Electric System), (Series 2000-A), CP, (U.S. Bank, N.A. LIQ), 0.210%, Mandatory Tender 11/5/2020 | 22,465,000 | |
5,000,000 | JEA, FL Electric System, (Series Three 2008B-2: Senior Revenue Bonds) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.150%, 11/4/2020 | 5,000,000 | |
25,000,000 | JEA, FL Water & Sewer System, (2008 Series B: Senior Revenue Bonds) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/4/2020 | 25,000,000 | |
3,000,000 | Martin County, FL PCRB (Florida Power & Light Co.), (Series 2000) Daily VRDNs, 0.130%, 11/2/2020 | 3,000,000 | |
20,065,000 | St. Lucie County, FL PCRB (Florida Power & Light Co.), (Series 2000) Daily VRDNs, 0.140%, 11/2/2020 | 20,065,000 | |
TOTAL | 139,440,000 | ||
Georgia— 1.2% | |||
11,000,000 | Monroe County, GA Development Authority Pollution Control (Gulf Power Co.), (First Series of 2002) Daily VRDNs, 0.150%, 11/2/2020 | 11,000,000 | |
3,000,000 | Roswell, GA Housing Authority (Belcourt Ltd.), MFH Refunding Revenue Bonds (Series 1988A) Weekly VRDNs, (Northern Trust Co., Chicago, IL LOC), 0.160%, 11/4/2020 | 3,000,000 | |
TOTAL | 14,000,000 | ||
Indiana— 0.8% | |||
1,215,000 | Indianapolis, IN MFH (Washington Pointe, LP), (Series 2009A) Weekly VRDNs, (FNMA LOC), 0.120%, 11/6/2020 | 1,215,000 | |
8,170,000 | Valparaiso, IN EDRB (Pines Village Retirement Community, Inc.), (Series 2008) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.240%, 11/5/2020 | 8,170,000 | |
TOTAL | 9,385,000 | ||
Iowa— 11.7% | |||
8,900,000 | Iowa Finance Authority - Health Facilities (UnityPoint Health), (Series 2013B-1) Daily VRDNs, (TD Bank, N.A. LOC), 0.100%, 11/2/2020 | 8,900,000 | |
38,000,000 | Iowa Finance Authority (Archer-Daniels-Midland Co.), (Series 2012) Weekly VRDNs, 0.170%, 11/4/2020 | 38,000,000 | |
6,500,000 | Iowa Finance Authority (Archer-Daniels-Midland Co.), Midwestern Disaster Area Revenue Bonds (Series 2011) Weekly VRDNs, 0.170%, 11/4/2020 | 6,500,000 | |
15,100,000 | Iowa Finance Authority (Cargill, Inc.), Midwestern Disaster Area Economic Development (Series 2009A) Weekly VRDNs, 0.150%, 11/5/2020 | 15,100,000 | |
27,100,000 | Iowa Finance Authority (Cargill, Inc.), Midwestern Disaster Area Economic Development (Series 2011A) Weekly VRDNs, 0.150%, 11/5/2020 | 27,100,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Iowa— continued | |||
$36,500,000 | Iowa Finance Authority (HF Chlor-Alkali, LLC), (Series 2012) Weekly VRDNs, (GTD by Cargill, Inc.), 0.160%, 11/5/2020 | $36,500,000 | |
650,000 | Iowa Finance Authority (Trinity Healthcare Credit Group), (Series 2000D) Weekly VRDNs, 0.140%, 11/5/2020 | 650,000 | |
TOTAL | 132,750,000 | ||
Louisiana— 3.4% | |||
20,000,000 | Ascension Parish, LA IDB (BASF Corp.), (Series 2009) Weekly VRDNs, (GTD by BASF SE), 0.270%, 11/4/2020 | 20,000,000 | |
12,000,000 | Louisiana Local Government Environmental Facilities CDA (Isidore Newman School), (Series 2002) Weekly VRDNs, (FHLB of Dallas LOC), 0.230%, 11/4/2020 | 12,000,000 | |
3,235,000 | Louisiana Local Government Environmental Facilities CDA (The Academy of the Sacred Heart of New Orleans), (Series 2004) Weekly VRDNs, (FHLB of Dallas LOC), 0.230%, 11/4/2020 | 3,235,000 | |
3,350,000 | Louisiana Local Government Environmental Facilities CDA (The Christ Episcopal Church in Covington), (Series 2004) Weekly VRDNs, (FHLB of Dallas LOC), 0.230%, 11/4/2020 | 3,350,000 | |
TOTAL | 38,585,000 | ||
Maryland— 0.1% | |||
595,000 | Maryland State Economic Development Corp. (Maryland Academy of Sciences), (Series 2003: Maryland Science Center) Weekly VRDNs, (Bank of America N.A. LOC), 0.180%, 11/5/2020 | 595,000 | |
Massachusetts— 0.2% | |||
1,100,000 | Massachusetts Development Finance Agency (Boston University), (Series U-6C) Daily VRDNs, (TD Bank, N.A. LOC), 0.090%, 11/2/2020 | 1,100,000 | |
1,250,000 | Massachusetts State Development Finance Agency (Tufts University), (Series 2018 R) Daily VRDNs, (U.S. Bank, N.A. LIQ), 0.100%, 11/2/2020 | 1,250,000 | |
TOTAL | 2,350,000 | ||
Michigan— 5.9% | |||
5,210,000 | Kent Hospital Finance Authority, MI (Spectrum Health), (Series 2008B-3) Weekly VRDNs, (Wells Fargo Bank, N.A. LIQ), 0.120%, 11/4/2020 | 5,210,000 | |
8,140,000 | Michigan State University (Board of Trustees), (Series 2005) Weekly VRDNs, (PNC Bank, N.A. LIQ), 0.150%, 11/4/2020 | 8,140,000 | |
16,200,000 | Michigan Strategic Fund (Kroger Co.), (Series 2010) Weekly VRDNs, (MUFG Bank Ltd. LOC), 0.160%, 11/5/2020 | 16,200,000 | |
12,015,000 | St. Joseph, MI Hospital Finance Authority (Lakeland Hospitals at Niles & St. Joseph Obligated Group), (Series 2002) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.220%, 11/5/2020 | 12,015,000 | |
25,115,000 | St. Joseph, MI Hospital Finance Authority (Lakeland Hospitals at Niles & St. Joseph Obligated Group), (Series 2006) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.220%, 11/5/2020 | 25,115,000 | |
TOTAL | 66,680,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Minnesota— 0.7% | |||
$ 7,500,000 | Moorhead, MN (American Crystal Sugar Co.), Series 2020 Weekly VRDNs, (CoBank, ACB LOC), 0.160%, 11/5/2020 | $7,500,000 | |
Mississippi— 3.9% | |||
44,650,000 | Perry County, MS (Georgia-Pacific LLC), (Series 2002) Weekly VRDNs, 0.250%, 11/5/2020 | 44,650,000 | |
Multi-State— 13.0% | |||
24,000,000 | Nuveen AMT-Free Municipal Credit Income Fund, (Series 4) Weekly VRDPs, (Citibank N.A., New York LIQ), 0.170%, 11/5/2020 | 24,000,000 | |
41,000,000 | Nuveen AMT-Free Municipal Credit Income Fund, (Series 5) Weekly VRDPs, (Societe Generale, Paris LIQ), 0.170%, 11/5/2020 | 41,000,000 | |
6,000,000 | Nuveen Enhanced AMT-Free Municipal Credit Opportunities Fund, (Series 2) Weekly VRDPs, (JPMorgan Chase Bank, N.A. LIQ), 0.190%, 11/5/2020 | 6,000,000 | |
9,000,000 | Nuveen Enhanced AMT-Free Quality Municipal Income Fund, (Series 3) Weekly VRDPs, (TD Bank, N.A. LIQ), 0.190%, 11/5/2020 | 9,000,000 | |
47,100,000 | Nuveen Enhanced AMT-Free Quality Municipal Income Fund, (Series 4) Weekly VRDPs, (Barclays Bank PLC LIQ), 0.190%, 11/5/2020 | 47,100,000 | |
20,000,000 | Nuveen Enhanced AMT-Free Quality Municipal Income Fund, VRDP(Series 5-1000) Weekly VRDPs, (Sumitomo Mitsui Banking Corp. LIQ)/(Sumitomo Mitsui Banking Corp. LOC), 0.170%, 11/5/2020 | 20,000,000 | |
TOTAL | 147,100,000 | ||
Nebraska— 0.1% | |||
1,400,000 | Washington County, NE (Cargill, Inc.), (Series 2010) Weekly VRDNs, 0.160%, 11/5/2020 | 1,400,000 | |
Nevada— 1.1% | |||
12,550,000 | Clark County, NV Airport System, Subordinate Lien Revenue Bonds (Series 2008 D-2A) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.110%, 11/4/2020 | 12,550,000 | |
New Jersey— 0.9% | |||
10,550,000 | New Jersey Health Care Facilities Financing Authority (AHS Hospital Corp.), (Series 2008B) Weekly VRDNs, (Bank of America N.A. LOC), 0.130%, 11/5/2020 | 10,550,000 | |
New York— 8.2% | |||
33,000,000 | Battery Park, NY City Authority, (Series 2019D) Weekly VRDNs, (TD Bank, N.A. LIQ), 0.100%, 11/5/2020 | 33,000,000 | |
1,000,000 | New York City, NY Municipal Water Finance Authority, (Series 2015 BB-4) Daily VRDNs, (Barclays Bank PLC LIQ), 0.110%, 11/2/2020 | 1,000,000 | |
6,800,000 | New York City, NY Transitional Finance Authority, (Fiscal 2019 Subseries B-4) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 11/2/2020 | 6,800,000 | |
1,000,000 | New York City, NY Transitional Finance Authority, (Series 2015A-3) Daily VRDNs, (Mizuho Bank Ltd. LIQ), 0.130%, 11/2/2020 | 1,000,000 | |
1,660,000 | New York City, NY Transitional Finance Authority, Fiscal 2018 (Subseries C-6) Weekly VRDNs, (Sumitomo Mitsui Banking Corp. LIQ), 0.140%, 11/5/2020 | 1,660,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$40,000,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 1) Weekly VRDPs, (Citibank N.A., New York LIQ), 0.170%, 11/5/2020 | $40,000,000 | |
10,000,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 2) Weekly VRDPs, (Citibank N.A., New York LIQ), 0.170%, 11/5/2020 | 10,000,000 | |
TOTAL | 93,460,000 | ||
North Carolina— 0.2% | |||
1,850,000 | Charlotte-Mecklenburg Hospital Authority, NC (Atrium Health (previously Carolinas HealthCare) System), (Series 2007B) Daily VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 11/2/2020 | 1,850,000 | |
Ohio— 2.2% | |||
7,010,000 | Franklin County, OH Hospital Facility Authority (Nationwide Children’s Hospital), (Series 2008B) Weekly VRDNs, 0.080%, 11/5/2020 | 7,010,000 | |
8,835,000 | Franklin County, OH Hospital Facility Authority (Nationwide Children’s Hospital), (Series 2013B) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 11/5/2020 | 8,835,000 | |
9,030,000 | Franklin County, OH Hospital Facility Authority (Nationwide Children’s Hospital), (Series 2014) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.110%, 11/5/2020 | 9,030,000 | |
TOTAL | 24,875,000 | ||
Oregon— 0.5% | |||
5,500,000 | Oregon State Facilities Authority (PeaceHealth), (2018 Series B) Daily VRDNs, (TD Bank, N.A. LOC), 0.100%, 11/2/2020 | 5,500,000 | |
Pennsylvania— 5.6% | |||
1,075,000 | Beaver County, PA IDA (Concordia Lutheran Obligated Group), (Series 2018A) Weekly VRDNs, (BMO Harris Bank, N.A. LOC), 0.130%, 11/5/2020 | 1,075,000 | |
6,395,000 | Butler County, PA General Authority (Iroquois School District), (Series 2011) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/ (PNC Bank, N.A. LIQ), 0.140%, 11/5/2020 | 6,395,000 | |
5,000,000 | Haverford Twp., PA School District, (Series 2009) Weekly VRDNs, (TD Bank, N.A. LOC), 0.100%, 11/5/2020 | 5,000,000 | |
4,680,000 | Pennsylvania HFA (Foxwood Manor Apartments), (Series 2008-O) Weekly VRDNs, (FHLMC LOC), 0.120%, 11/5/2020 | 4,680,000 | |
24,100,000 | Pennsylvania State Turnpike Commission, (Series A of 2020) Weekly VRDNs, (Barclays Bank PLC LOC), 0.100%, 11/5/2020 | 24,100,000 | |
500,000 | Philadelphia, PA, (Series 2009B) Weekly VRDNs, (Barclays Bank PLC LOC), 0.100%, 11/5/2020 | 500,000 | |
21,255,000 | Pittsburgh & Allegheny County, PA Sports & Exhibition Authority, (Series A of 2007) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(PNC Bank, N.A. LIQ), 0.150%, 11/5/2020 | 21,255,000 | |
TOTAL | 63,005,000 | ||
South Carolina— 0.3% | |||
3,760,000 | South Carolina Jobs-EDA (Brashier Charter, LLC), (Series 2008) Weekly VRDNs, (Truist Bank LOC), 0.140%, 11/4/2020 | 3,760,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Tennessee— 3.4% | |||
$ 4,130,000 | Blount County, TN Public Building Authority (Bradley County, TN), (Series E-6-A) Weekly VRDNs, (Truist Bank LOC), 0.180%, 11/4/2020 | $4,130,000 | |
34,400,000 | Shelby County, TN Health Education & Housing Facilities Board (Methodist Le Bonheur Healthcare), (Series 2008A) Daily VRDNs, (Assured Guaranty Municipal Corp. INS)/(U.S. Bank, N.A. LIQ), 0.130%, 11/2/2020 | 34,400,000 | |
TOTAL | 38,530,000 | ||
Texas— 3.2% | |||
2,660,000 | Harris County, TX Education Facilities Finance Corp. (Methodist Hospital, Harris County, TX), (Series 2020B) Daily VRDNs, 0.100%, 11/2/2020 | 2,660,000 | |
9,910,000 | Harris County, TX HFDC (Methodist Hospital, Harris County, TX), (Subseries 2008A-1) Daily VRDNs, 0.100%, 11/2/2020 | 9,910,000 | |
13,900,000 | Harris County, TX Hospital District, Senior Lien Refunding Revenue Bonds (Series 2010) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.140%, 11/5/2020 | 13,900,000 | |
9,525,000 | Tarrant County, TX Cultural Education Facilities Finance Corp. (Baylor Scott & White Health Care System), (Series 2011C) Daily VRDNs, (TD Bank, N.A. LOC), 0.100%, 11/2/2020 | 9,525,000 | |
TOTAL | 35,995,000 | ||
Utah— 6.4% | |||
70,500,000 | Emery County, UT (Pacificorp), PCRB (Series 1994) Weekly VRDNs, 0.180%, 11/4/2020 | 70,500,000 | |
2,000,000 | St. George, UT IDRB (Apogee Enterprises, Inc.), (Series 2010) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.170%, 11/5/2020 | 2,000,000 | |
TOTAL | 72,500,000 | ||
Virginia— 1.0% | |||
10,725,000 | Hampton Roads, VA Sanitation District, (Series 2016B) Weekly VRDNs, 0.120%, 11/5/2020 | 10,725,000 | |
West Virginia— 2.0% | |||
22,600,000 | West Virginia State Hospital Finance Authority (Cabell Huntington Hospital), (Series 2008A) Weekly VRDNs, (Truist Bank LOC), 0.180%, 11/5/2020 | 22,600,000 | |
Wisconsin— 1.0% | |||
11,000,000 | Wisconsin State, (Series A) Weekly VRDNs, 0.150%, 11/5/2020 | 11,000,000 | |
TOTAL INVESTMENT IN SECURITIES—99.9% (AT AMORTIZED COST)2 | 1,131,800,000 | ||
OTHER ASSETS AND LIABILITIES - NET—0.1%3 | 1,599,020 | ||
TOTAL NET ASSETS—100% | $1,133,399,020 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
CDA | —Community Development Authority | |
CP | —Commercial Paper | |
EDA | —Economic Development Authority | |
EDC | —Economic Development Commission | |
EDRB | —Economic Development Revenue Bond | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
FNMA | —Federal National Mortgage Association | |
GTD | —Guaranteed | |
HEFA | —Health and Education Facilities Authority | |
HFA | —Housing Finance Authority | |
HFDC | —Health Facility Development Corporation | |
IDA | —Industrial Development Authority | |
IDB | —Industrial Development Bond | |
IDRB | —Industrial Development Revenue Bond | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MFH | —Multi-Family Housing | |
PCRB | —Pollution Control Revenue Bond | |
UT | —Unlimited Tax | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds |
Year Ended October 31, | Period Ended 10/31/20161 | ||||
2020 | 2019 | 2018 | 2017 | ||
Net Asset Value, Beginning of Period | $1.0000 | $1.0000 | $1.0000 | $1.0000 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income | 0.0060 | 0.0137 | 0.0114 | 0.0059 | 0.0020 |
Total From Investment Operations | 0.0060 | 0.0137 | 0.0114 | 0.0059 | 0.0020 |
Less Distributions: | |||||
Distributions from net investment income | (0.0060) | (0.0137) | (0.0114) | (0.0059) | (0.0020) |
Net Asset Value, End of Period | $1.0000 | $1.0000 | $1.0000 | $1.0000 | $1.0000 |
Total Return2 | 0.60% | 1.38% | 1.15% | 0.59% | 0.20% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.19% | 0.20% | 0.20% | 0.20% | 0.20%4 |
Net investment income | 0.64% | 1.36% | 1.17% | 0.59% | 0.54%4 |
Expense waiver/reimbursement5 | 0.18% | 0.16% | 0.18% | 0.20% | 0.22%4 |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $735,236 | $855,998 | $594,047 | $301,268 | $231,159 |
1 | Reflects operations for the period from February 26, 2016 (date of initial public investment) to October 31, 2016. |
2 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | Computed on an annualized basis. |
5 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in securities, at amortized cost and fair value | $1,131,800,000 |
Cash | 127,796 |
Income receivable | 165,204 |
Receivable for shares sold | 2,861,605 |
Total Assets | 1,134,954,605 |
Liabilities: | |
Payable for shares redeemed | 1,415,122 |
Income distribution payable | 5,339 |
Payable to adviser (Note 5) | 1,030 |
Payable for administrative fee (Note 5) | 4,819 |
Payable for custodian fees | 8,740 |
Payable for share registration costs | 19,290 |
Payable for transfer agent fees | 18,816 |
Payable for other service fees (Notes 2 and 5) | 10,489 |
Accrued expenses (Note 5) | 71,940 |
Total Liabilities | 1,555,585 |
Net assets for 1,133,390,587 shares outstanding | $1,133,399,020 |
Net Assets Consist of: | |
Paid-in capital | $1,133,390,587 |
Total distributable earnings (loss) | 8,433 |
Total Net Assets | $1,133,399,020 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$735,236,160 ÷ 735,236,533 shares outstanding, no par value, unlimited shares authorized | $1.0000 |
Premier Shares: | |
$398,162,860 ÷ 398,154,054 shares outstanding, no par value, unlimited shares authorized | $1.0000 |
Investment Income: | |
Interest | $11,147,458 |
Dividends | 26,405 |
TOTAL INCOME | 11,173,863 |
Expenses: | |
Investment adviser fee (Note 5) | 2,634,962 |
Administrative fee (Note 5) | 1,032,385 |
Custodian fees | 50,503 |
Transfer agent fees | 61,057 |
Directors’/Trustees’ fees (Note 5) | 7,314 |
Auditing fees | 20,400 |
Legal fees | 7,977 |
Portfolio accounting fees | 196,635 |
Other service fees (Notes 2 and 5) | 386,408 |
Share registration costs | 135,722 |
Printing and postage | 21,330 |
Miscellaneous (Note 5) | 43,291 |
TOTAL EXPENSES | 4,597,984 |
Waivers and Reimbursement: | |
Waiver of investment adviser fee (Note 5) | (2,204,802) |
Waivers/reimbursement of other operating expenses (Notes 2 and 5) | (108,611) |
TOTAL WAIVERS AND REIMBURSEMENT | (2,313,413) |
Net expenses | 2,284,571 |
Net investment income | 8,889,292 |
Change in net assets resulting from operations | $8,889,292 |
Year Ended October 31 | 2020 | 2019 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $8,889,292 | $16,671,954 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 8,889,292 | 16,671,954 |
Distributions to Shareholders: | ||
Institutional Shares | (4,991,509) | (9,572,444) |
Premier Shares | (3,892,000) | (7,103,992) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (8,883,509) | (16,676,436) |
Share Transactions: | ||
Proceeds from sale of shares | 4,946,146,680 | 3,381,084,951 |
Net asset value of shares issued to shareholders in payment of distributions declared | 3,833,826 | 8,199,101 |
Cost of shares redeemed | (5,188,031,333) | (3,032,691,453) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (238,050,827) | 356,592,599 |
Change in net assets | (238,045,044) | 356,588,117 |
Net Assets: | ||
Beginning of period | 1,371,444,064 | 1,014,855,947 |
End of period | $1,133,399,020 | $1,371,444,064 |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Institutional Shares | $386,408 | $(22,512) | $(86,099) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,542,541,049 | $1,542,541,049 | 1,456,449,182 | $1,456,449,182 |
Shares issued to shareholders in payment of distributions declared | 1,427,123 | 1,427,123 | 3,655,957 | 3,655,957 |
Shares redeemed | (1,664,731,646) | (1,664,731,646) | (1,198,149,322) | (1,198,149,322) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (120,763,474) | $(120,763,474) | 261,955,817 | $261,955,817 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Premier Shares: | Shares | Amount | Shares | Amount |
Shares sold | 3,403,605,631 | $3,403,605,631 | 1,924,635,769 | $1,924,635,769 |
Shares issued to shareholders in payment of distributions declared | 2,406,703 | 2,406,703 | 4,543,144 | 4,543,144 |
Shares redeemed | (3,523,299,687) | (3,523,299,687) | (1,834,542,131) | (1,834,542,131) |
NET CHANGE RESULTING FROM PREMIER SHARE TRANSACTIONS | (117,287,353) | $(117,287,353) | 94,636,782 | $94,636,782 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (238,050,827) | $(238,050,827) | 356,592,599 | $356,592,599 |
2020 | 2019 | |
Tax-exempt income | $8,883,509 | $16,676,436 |
Undistributed tax-exempt income | $8,469 |
Capital loss carryforwards | $(36) |
Short-Term | Long-Term | Total |
$36 | $— | $36 |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
![](https://capedge.com/proxy/N-CSR/0001623632-20-002126/ernstyoungsig.jpg)
December 23, 2020
Beginning Account Value 5/1/2020 | Ending Account Value 10/31/2020 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,000.10 | $0.96 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.18 | $0.97 |
1 | Expenses are equal to the Fund annualized net expense ratio of 0.19%, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). |
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: April 1989 | 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) |
Thomas R. Donahue* Birth Date: October 20, 1958 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Director or Trustee of certain of the funds in the Federated Hermes Fund Family; Chief Financial Officer, Treasurer, Vice President and Assistant Secretary, Federated Hermes, Inc.; Chairman and Trustee, Federated Administrative Services; Chairman and Director, Federated Administrative Services, Inc.; Trustee and Treasurer, Federated Advisory Services Company; Director or Trustee and Treasurer, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, and Federated Investment Management Company; Director, MDTA LLC; Director, Executive Vice President and Assistant Secretary, Federated Securities Corp.; Director or Trustee and Chairman, Federated Services Company and Federated Shareholder Services Company; and Director and President, FII Holdings, Inc. Previous Positions: Director, Federated Hermes, Inc.; Assistant Secretary, Federated Investment Management Company, Federated Global Investment Management Company and Passport Research, LTD; Treasurer, Passport Research, LTD; Executive Vice President, Federated Securities Corp.; and Treasurer, FII Holdings, 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 |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: September 2013 | Principal Occupations: Director or Trustee 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, and Chairman of the Compensation Committee, 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 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; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; 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; and Director and Chair, North Catholic High School, 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 |
Charles F. Mansfield, Jr. Birth Date: April 10, 1945 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant and Author. Other Directorships Held: None. Qualifications: Mr. Mansfield has served as a Marine Corps officer and in several banking, business management, educational roles and directorship positions throughout his long career. He remains active as a Management Consultant and Author. |
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. Ms. Reilly also previously served as Chair of the Risk Management Committee for Holy Ghost Preparatory School, Philadelphia and Secretary and Chair of the Governance Committee, Oakland Catholic High School Board of Trustees, Pittsburgh. |
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 |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: September 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.); and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, 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 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. |
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. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Deborah A. Cunningham was named Chief Investment Officer of Federated Hermes’ money market products in 2004. She joined Federated Hermes in 1981 and has been a Senior Portfolio Manager since 1997 and an Executive Vice President of the Fund’s Adviser since 2009. Ms. Cunningham has received the Chartered Financial Analyst designation and holds an M.S.B.A. in Finance from Robert Morris College. |
Mary Jo Ochson Birth Date: September 12, 1953 CHIEF INVESTMENT OFFICER Officer since: May 2004 | Principal Occupations: Mary Jo Ochson was named Chief Investment Officer of Federated Hermes’ tax-exempt, fixed-income products in 2004 and Chief Investment Officer of Federated Hermes’ Tax-Free Money Markets in 2010. She joined Federated Hermes in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of the Fund’s Adviser since 1996. Ms. Ochson has received the Chartered Financial Analyst designation and holds an M.B.A. in Finance from the University of Pittsburgh. |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
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Ticker GAMXX |
Federated Hermes Georgia Municipal Cash Trust
A Portfolio of Federated Hermes Money Market Obligations Trust
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Donahue
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Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 100.0% |
Other Assets and Liabilities—Net2,3 | (0.0)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
3 | Represents less than 0.1%. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 100.0% |
8-30 Days | 0.0% |
31-90 Days | 0.0% |
91-180 Days | 0.0% |
181 Days or more | 0.0% |
Other Assets and Liabilities—Net2 | 0.0% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 100.0% | ||
Georgia— 100.0% | |||
$ 100,000 | Appling County, GA Development Authority (Georgia Power Co.), (1st Series 1997) Daily VRDNs, 0.180%, 11/2/2020 | $100,000 | |
1,560,000 | Appling County, GA Development Authority (Georgia Power Co.), (First Series 2011) Daily VRDNs, 0.180%, 11/2/2020 | 1,560,000 | |
1,000,000 | Atlanta, GA Airport General Revenue, Tender Option Bond Receipts (Series 2019-XF0815) Weekly VRDNs, (Bank of America N.A. LIQ), 0.200%, 11/5/2020 | 1,000,000 | |
9,750,000 | Atlanta, GA, Urban Residential Finance Authority (Columbia at Sylvan Hills Apartments), (Series 2006) Weekly VRDNs, (FNMA LOC), 0.220%, 11/5/2020 | 9,750,000 | |
200,000 | Brookhaven Development Authority, GA (Children’s Healthcare of Atlanta, Inc.), (Series 2019D) Weekly VRDNs, (PNC Bank, N.A. LIQ), 0.130%, 11/5/2020 | 200,000 | |
3,750,000 | Brookhaven Development Authority, GA (Children’s Healthcare of Atlanta, Inc.), Tender Option Bond Trust Certificates (Series 2020-XX1122) Weekly VRDNs, (Barclays Bank PLC LIQ), 0.150%, 11/5/2020 | 3,750,000 | |
780,000 | Brookhaven Development Authority, GA (Children’s Healthcare of Atlanta, Inc.), Tender Option Bond Trust Receipts (Series 2019-XG0224) Weekly VRDNs, (Bank of America N.A. LIQ), 0.170%, 11/5/2020 | 780,000 | |
2,920,000 | Cherokee County, GA Development Authority (Goodwill of North Georgia, Inc.), (Series 2008) Weekly VRDNs, (Truist Bank LOC), 0.150%, 11/4/2020 | 2,920,000 | |
9,215,000 | Columbus, GA Development Authority (Avalon Apartments LP), (Series 2008) Weekly VRDNs, (FNMA LOC), 0.220%, 11/5/2020 | 9,215,000 | |
10,000,000 | Columbus, GA Development Authority (Lumpkin Park Partners, Ltd.), (Series 2008) Weekly VRDNs, (FHLMC LOC), 0.220%, 11/5/2020 | 10,000,000 | |
3,425,000 | Dalton-Whitfield County, GA Joint Development Authority (Hamilton Health Care System Obligated Group), CDI Net Liquidity (2018-ZM0577) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.170%, 11/5/2020 | 3,425,000 | |
480,000 | Fitzgerald & Ben Hill County, GA Development Authority (Agri-Products, Inc.), (Series 2007) Weekly VRDNs, (U.S. Bank, N.A. LOC), 0.190%, 11/5/2020 | 480,000 | |
2,000,000 | Floyd County, GA Development Authority PCRB (Georgia Power Co.), (First Series 1996) Daily VRDNs, 0.180%, 11/2/2020 | 2,000,000 | |
5,300,000 | Fulton County, GA, Solar Eclipse (Series 2017-0007) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.150%, 11/5/2020 | 5,300,000 | |
1,450,000 | Georgia State HFA, Tender Option Bond Trust Receipts (2020-ZF0783) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.170%, 11/5/2020 | 1,450,000 | |
3,370,000 | Georgia State HFA, Tender Option Bond Trust Receipts (Series 2018-ZF0653) Weekly VRDNs, (Bank of America N.A. LIQ), 0.160%, 11/5/2020 | 3,370,000 | |
1,075,000 | Gordon County, GA Development Authority (Pine Hall Brick Co., Inc.), (Series 2007) Weekly VRDNs, (Truist Bank LOC), 0.230%, 11/5/2020 | 1,075,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Georgia— continued | |||
$ 1,245,000 | Heard County, GA Development Authority (Oglethorpe Power Corp.), (Series 2009A) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.130%, 11/4/2020 | $1,245,000 | |
5,370,000 | Monroe County, GA Development Authority (Gulf Power Co.), (Series 2019) Daily VRDNs, 0.170%, 11/2/2020 | 5,370,000 | |
160,000 | Monroe County, GA Development Authority Pollution Control (Georgia Power Co.), (First Series 1997) Daily VRDNs, 0.180%, 11/2/2020 | 160,000 | |
1,700,000 | Monroe County, GA Development Authority Pollution Control (Georgia Power Co.), (First Series 2008) Daily VRDNs, 0.180%, 11/2/2020 | 1,700,000 | |
2,375,000 | Monroe County, GA Development Authority Pollution Control (Oglethorpe Power Corp.), (Series 2009B) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.130%, 11/4/2020 | 2,375,000 | |
2,000,000 | Monroe County, GA Development Authority Pollution Control (Oglethorpe Power Corp.), (Series 2010A) Weekly VRDNs, (Truist Bank LOC), 0.180%, 11/4/2020 | 2,000,000 | |
4,640,000 | Municipal Electric Authority of Georgia, (Series 2008B) Weekly VRDNs, (PNC Bank, N.A. LOC), 0.110%, 11/4/2020 | 4,640,000 | |
5,000,000 | Paulding County, GA Hospital Authority (Wellstar Health System, Inc.), (Series 2012B) Weekly VRDNs, (Bank of America N.A. LOC), 0.150%, 11/5/2020 | 5,000,000 | |
3,555,000 | Paulding County, GA, Solar Eclipse (Series 2017-0060) Daily VRDNs, (U.S. Bank, N.A. LIQ), 0.130%, 11/2/2020 | 3,555,000 | |
6,860,000 | Richmond County, GA Development Authority (Stonegate Club Apartments LLC), (Series 2002) Weekly VRDNs, (FNMA LOC), 0.200%, 11/5/2020 | 6,860,000 | |
3,350,000 | Roswell, GA Housing Authority (Belcourt Ltd.), MFH Refunding Revenue Bonds (Series 1988A) Weekly VRDNs, (Northern Trust Co., Chicago, IL LOC), 0.160%, 11/4/2020 | 3,350,000 | |
2,305,000 | Savannah, GA EDA (Calvary Day School), (Series 2006) Weekly VRDNs, (Truist Bank LOC), 0.170%, 11/4/2020 | 2,305,000 | |
2,450,000 | Savannah, GA EDA (Home Depot, Inc.), (Series 1995A) Weekly VRDNs, 0.250%, 11/4/2020 | 2,450,000 | |
6,355,000 | Savannah, GA EDA (Home Depot, Inc.), (Series B) Weekly VRDNs, (Truist Bank LOC), 0.160%, 11/4/2020 | 6,355,000 | |
2,655,000 | Wayne County, GA, IDA (Sierra International Machinery LLC), (Series 2011) Weekly VRDNs, (Truist Bank LOC), 0.230%, 11/5/2020 | 2,655,000 | |
TOTAL INVESTMENT IN SECURITIES—100.0% (AT AMORTIZED COST)2 | 106,395,000 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.0)%3 | (11,487) | ||
TOTAL NET ASSETS—100% | $106,383,513 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
EDA | —Economic Development Authority | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
FNMA | —Federal National Mortgage Association | |
HFA | —Housing Finance Authority | |
IDA | —Industrial Development Authority | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MFH | —Multi-Family Housing | |
PCRB | —Pollution Control Revenue Bond | |
VRDNs | —Variable Rate Demand Notes |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.005 | 0.011 | 0.009 | 0.003 | 0.001 |
Net realized gain | — | 0.0001 | — | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.005 | 0.011 | 0.009 | 0.003 | 0.001 |
Less Distributions: | |||||
Distributions from net investment income | (0.005) | (0.011) | (0.009) | (0.003) | (0.001) |
Distributions from net realized gain | (0.000)1 | — | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.005) | (0.011) | (0.009) | (0.003) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.49% | 1.11% | 0.88% | 0.35% | 0.11% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.38% | 0.53% | 0.53% | 0.53% | 0.32%4 |
Net investment income | 0.50% | 1.11% | 0.87% | 0.35% | 0.05% |
Expense waiver/reimbursement5 | 0.50% | 0.30% | 0.34% | 0.44% | 0.64% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $106,384 | $141,535 | $175,860 | $156,551 | $98,313 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.32% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in securities, at amortized cost and fair value | $106,395,000 |
Cash | 102,834 |
Income receivable | 21,731 |
Receivable for shares sold | 223,054 |
Total Assets | 106,742,619 |
Liabilities: | |
Payable for shares redeemed | 314,828 |
Payable to adviser (Note 5) | 1,415 |
Payable for administrative fee (Note 5) | 453 |
Payable for portfolio accounting fees | 16,248 |
Payable for printing and postage | 18,174 |
Accrued expenses (Note 5) | 7,988 |
Total Liabilities | 359,106 |
Net assets for 106,382,275 shares outstanding | $106,383,513 |
Net Assets Consist of: | |
Paid-in capital | $106,382,275 |
Total distributable earnings (loss) | 1,238 |
Total Net Assets | $106,383,513 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
$106,383,513 ÷ 106,382,275 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $1,115,513 |
Expenses: | |
Investment adviser fee (Note 5) | 381,532 |
Administrative fee (Note 5) | 99,872 |
Custodian fees | 5,767 |
Transfer agent fees | 106,964 |
Directors’/Trustees’ fees (Note 5) | 1,009 |
Auditing fees | 20,400 |
Legal fees | 9,600 |
Portfolio accounting fees | 63,918 |
Other service fees (Notes 2 and 5) | 317,943 |
Share registration costs | 78,846 |
Printing and postage | 23,620 |
Miscellaneous (Note 5) | 5,723 |
TOTAL EXPENSES | 1,115,194 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (381,532) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (249,573) |
TOTAL WAIVERS AND REIMBURSEMENTS | (631,105) |
Net expenses | 484,089 |
Net investment income | 631,424 |
Net realized loss on investments | (33) |
Change in net assets resulting from operations | $631,391 |
Year Ended October 31 | 2020 | 2019 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $631,424 | $1,905,582 |
Net realized gain (loss) | (33) | 389 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 631,391 | 1,905,971 |
Distributions to Shareholders | (631,301) | (1,905,227) |
Share Transactions: | ||
Proceeds from sale of shares | 274,523,405 | 375,262,428 |
Net asset value of shares issued to shareholders in payment of distributions declared | 628,688 | 1,872,636 |
Cost of shares redeemed | (310,303,474) | (411,460,593) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (35,151,381) | (34,325,529) |
Change in net assets | (35,151,291) | (34,324,785) |
Net Assets: | ||
Beginning of period | 141,534,804 | 175,859,589 |
End of period | $106,383,513 | $141,534,804 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |
Shares sold | 274,523,405 | 375,262,428 |
Shares issued to shareholders in payment of distributions declared | 628,688 | 1,872,636 |
Shares redeemed | (310,303,474) | (411,460,593) |
NET CHANGE RESULTING FROM FUND SHARE TRANSACTIONS | (35,151,381) | (34,325,529) |
2020 | 2019 | |
Tax-exempt income | $630,912 | $1,905,227 |
Long-term capital gains | $389 | $— |
Undistributed tax-exempt income | $1,271 |
Capital loss carryforwards | $(33) |
Short-Term | Long-Term | Total |
$33 | $— | $33 |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
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Beginning Account Value 5/1/2020 | Ending Account Value 10/31/2020 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,000.00 | $21.06 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.08 | $21.07 |
1 | Expenses are equal to the Fund’s annualized net expense ratio of 0.21%, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s current Fee Limit of 0.53% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.66 and $2.70, respectively. |
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: April 1989 | 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) |
Thomas R. Donahue* Birth Date: October 20, 1958 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Director or Trustee of certain of the funds in the Federated Hermes Fund Family; Chief Financial Officer, Treasurer, Vice President and Assistant Secretary, Federated Hermes, Inc.; Chairman and Trustee, Federated Administrative Services; Chairman and Director, Federated Administrative Services, Inc.; Trustee and Treasurer, Federated Advisory Services Company; Director or Trustee and Treasurer, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, and Federated Investment Management Company; Director, MDTA LLC; Director, Executive Vice President and Assistant Secretary, Federated Securities Corp.; Director or Trustee and Chairman, Federated Services Company and Federated Shareholder Services Company; and Director and President, FII Holdings, Inc. Previous Positions: Director, Federated Hermes, Inc.; Assistant Secretary, Federated Investment Management Company, Federated Global Investment Management Company and Passport Research, LTD; Treasurer, Passport Research, LTD; Executive Vice President, Federated Securities Corp.; and Treasurer, FII Holdings, 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 |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: September 2013 | Principal Occupations: Director or Trustee 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, and Chairman of the Compensation Committee, 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 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; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; 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; and Director and Chair, North Catholic High School, 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 |
Charles F. Mansfield, Jr. Birth Date: April 10, 1945 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant and Author. Other Directorships Held: None. Qualifications: Mr. Mansfield has served as a Marine Corps officer and in several banking, business management, educational roles and directorship positions throughout his long career. He remains active as a Management Consultant and Author. |
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. Ms. Reilly also previously served as Chair of the Risk Management Committee for Holy Ghost Preparatory School, Philadelphia and Secretary and Chair of the Governance Committee, Oakland Catholic High School Board of Trustees, Pittsburgh. |
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 |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: September 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.); and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, 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 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. |
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. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Deborah A. Cunningham was named Chief Investment Officer of Federated Hermes’ money market products in 2004. She joined Federated Hermes in 1981 and has been a Senior Portfolio Manager since 1997 and an Executive Vice President of the Fund’s Adviser since 2009. Ms. Cunningham has received the Chartered Financial Analyst designation and holds an M.S.B.A. in Finance from Robert Morris College. |
Mary Jo Ochson Birth Date: September 12, 1953 CHIEF INVESTMENT OFFICER Officer since: May 2004 | Principal Occupations: Mary Jo Ochson was named Chief Investment Officer of Federated Hermes’ tax-exempt, fixed-income products in 2004 and Chief Investment Officer of Federated Hermes’ Tax-Free Money Markets in 2010. She joined Federated Hermes in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of the Fund’s Adviser since 1996. Ms. Ochson has received the Chartered Financial Analyst designation and holds an M.B.A. in Finance from the University of Pittsburgh. |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
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Share Class | Ticker | Wealth | MAWXX | Service | MMCXX | Cash Series | FMCXX |
Federated Hermes Massachusetts Municipal Cash Trust
A Portfolio of Federated Hermes Money Market Obligations Trust
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Donahue
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Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 65.6% |
Commercial Paper | 23.0% |
Municipal Notes | 5.5% |
Other Assets and Liabilities—Net2 | 5.9% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 65.6% |
8-30 Days | 9.2% |
31-90 Days | 19.3% |
91-180 Days | 0.0% |
181 Days or more | 0.0% |
Other Assets and Liabilities—Net2 | 5.9% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 94.1% | ||
Massachusetts— 94.1% | |||
$1,500,000 | Boston, MA Water & Sewer Commission, Tax-Exempt Commercial Paper Bond Anticipation Notes (Series A), CP, (State Street Bank and Trust Co. LOC), 0.150%, Mandatory Tender 12/3/2020 | $1,500,000 | |
1,000,000 | Commonwealth of Massachusetts, (Series 2000A) Weekly VRDNs, (Citibank N.A., New York LIQ), 0.130%, 11/5/2020 | 1,000,000 | |
500,000 | Massachusetts Bay Transportation Authority Sales Tax Revenue, (Subseries A-1) Weekly VRDNs, (State Street Bank and Trust Co. LIQ), 0.120%, 11/4/2020 | 500,000 | |
790,000 | Massachusetts Bay Transportation Authority Sales Tax Revenue, Clipper Tax- Exempt Certificates Trust (Series 2009-47) TOBs, (State Street Bank and Trust Co. LIQ), 0.270%, Optional Tender 11/27/2020 | 790,000 | |
1,000,000 | Massachusetts Department of Transportation, (Series A-1) Weekly VRDNs, (Citibank N.A., New York LOC), 0.100%, 11/4/2020 | 1,000,000 | |
1,400,000 | Massachusetts Development Finance Agency (Clark University), (Series 2008) Weekly VRDNs, (TD Bank, N.A. LOC), 0.110%, 11/4/2020 | 1,400,000 | |
1,150,000 | Massachusetts Development Finance Agency (Mass General Brigham), Tender Option Bond Trust Receipts (2016-XM0137) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 1,150,000 | |
3,187,000 | Massachusetts Development Finance Agency, (Issue 4), CP, (FHLB of Boston LOC), 0.280%, Mandatory Tender 12/18/2020 | 3,187,000 | |
1,150,000 | Massachusetts HEFA (Baystate Medical Center), (Series J-2) Daily VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.090%, 11/2/2020 | 1,150,000 | |
1,250,000 | Massachusetts HEFA (Harvard University), (Series Y) Weekly VRDNs, 0.080%, 11/5/2020 | 1,250,000 | |
1,475,000 | Massachusetts HEFA (Massachusetts Institute of Technology), (Series J-2) Weekly VRDNs, 0.080%, 11/5/2020 | 1,475,000 | |
1,800,000 | Massachusetts IFA (New England Power Co.), (Series 1992B), CP, 0.230%, Mandatory Tender 11/23/2020 | 1,800,000 | |
700,000 | Massachusetts School Building Authority, Tender Option Bond Trust Certificates (2016-XX1008) Weekly VRDNs, (Barclays Bank PLC LIQ), 0.150%, 11/5/2020 | 700,000 | |
475,000 | Massachusetts State Development Finance Agency (Marine Biological Laboratory), (Series 2006) Weekly VRDNs, (PNC Bank, N.A. LOC), 0.130%, 11/5/2020 | 475,000 | |
1,400,000 | Massachusetts State Health & Educational Facility (Amherst College), (Series 2005 J-2) Daily VRDNs, 0.120%, 11/2/2020 | 1,400,000 | |
795,000 | Massachusetts State Health & Educational Facility (Massachusetts Institute of Technology), Tender Option Bond Trust Receipts (2016-XM0232) Weekly VRDNs, (Bank of America N.A. LIQ), 0.140%, 11/5/2020 | 795,000 | |
2,895,000 | Massachusetts State Housing Finance Agency Housing Revenue (Princeton Westford), (2015 Series A) Weekly VRDNs, (Bank of America N.A. LOC), 0.140%, 11/5/2020 | 2,895,000 | |
3,300,000 | Massachusetts Water Resources Authority, Tender Option Bond Trust Certificates (2016-XX1002) Weekly VRDNs, (Barclays Bank PLC LIQ), 0.130%, 11/5/2020 | 3,300,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Massachusetts— continued | |||
$ 750,000 | Rowley, MA BANs, 1.750%, 12/18/2020 | $750,524 | |
TOTAL INVESTMENT IN SECURITIES—94.1% (AT AMORTIZED COST)2 | 26,517,524 | ||
OTHER ASSETS AND LIABILITIES - NET—5.9%3 | 1,672,723 | ||
TOTAL NET ASSETS—100% | $28,190,247 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
BANs | —Bond Anticipation Notes | |
CP | —Commercial Paper | |
FHLB | —Federal Home Loan Bank | |
HEFA | —Health and Education Facilities Authority | |
IFA | —Industrial Finance Authority | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
TOBs | —Tender Option Bonds | |
VRDNs | —Variable Rate Demand Notes |
Year Ended October 31, | Period Ended 10/31/20181 | ||
20202 | 2019 | ||
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||
Net investment income | 0.0053 | 0.0133 | 0.010 |
Net realized gain | 0.001 | 0.0004 | — |
TOTAL FROM INVESTMENT OPERATIONS | 0.006 | 0.013 | 0.010 |
Less Distributions: | |||
Distributions from net investment income | (0.005) | (0.013) | (0.010) |
Distributions from net realized gain | (0.001) | — | (0.000)4 |
TOTAL DISTRIBUTIONS | (0.006) | (0.013) | (0.010) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 |
Total Return5 | 0.58% | 1.29% | 1.02% |
Ratios to Average Net Assets: | |||
Net expenses6 | 0.29%7 | 0.36% | 0.36%7 |
Net investment income | 0.47%7 | 1.34% | 1.16%7 |
Expense waiver/reimbursement8 | 0.04%7 | 0.43% | 0.45%7 |
Supplemental Data: | |||
Net assets, end of period (000 omitted) | $09 | $09 | $732 |
1 | Reflects operations for the period from November 6, 2017 (date of initial investment) to October 31, 2018. |
2 | Certain ratios included in Ratios to Average Net Assets and per share amounts may be inflated or deflated as compared to the fee structure for each respective share class as a result of daily systematic allocations being rounded to the nearest penny for fund level income, expense and realized gain/loss amounts. Such differences are immaterial. |
3 | Per share number has been calculated using the average shares method. |
4 | Represents less than $0.001. |
5 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
6 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
7 | Computed on an annualized basis. |
8 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
9 | Represents less than $1,000. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0041 | 0.0101 | 0.008 | 0.002 | 0.0002 |
Net realized gain | 0.001 | 0.0002 | — | 0.0002 | 0.0002 |
Total From Investment Operations | 0.005 | 0.010 | 0.008 | 0.002 | 0.0002 |
Less Distributions: | |||||
Distributions from net investment income | (0.004) | (0.010) | (0.008) | (0.002) | (0.000)2 |
Distributions from net realized gain | (0.001) | — | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.005) | (0.010) | (0.008) | (0.002) | (0.000)2 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.45% | 1.05% | 0.78% | 0.25% | 0.07% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.37% | 0.60% | 0.61% | 0.61% | 0.32%5 |
Net investment income | 0.33% | 1.04% | 0.72% | 0.20% | 0.03% |
Expense waiver/reimbursement6 | 0.94% | 0.48% | 0.39% | 0.37% | 0.57% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $16,149 | $17,107 | $19,628 | $50,886 | $71,785 |
1 | Per share number has been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.32% after taking into account this expense reduction. |
6 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0021 | 0.0061 | 0.004 | 0.0002 | 0.0002 |
Net realized gain | 0.001 | 0.0002 | — | 0.0002 | 0.0002 |
Total From Investment Operations | 0.003 | 0.006 | 0.004 | 0.0002 | 0.0002 |
Less Distributions: | |||||
Distributions from net investment income | (0.002) | (0.006) | (0.004) | (0.000)2 | (0.000)2 |
Distributions from net realized gain | (0.001) | — | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.003) | (0.006) | (0.004) | (0.000)2 | (0.000)2 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.26% | 0.62% | 0.37% | 0.05% | 0.04% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.65% | 1.02% | 1.02% | 0.81% | 0.35%5 |
Net investment income | 0.21% | 0.64% | 0.36% | 0.01% | 0.01% |
Expense waiver/reimbursement6 | 1.28% | 0.65% | 0.60% | 0.77% | 1.14% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $12,041 | $20,125 | $48,133 | $42,818 | $60,767 |
1 | Per share number has been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.35% after taking into account this expense reduction. |
6 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in securities, at amortized cost and fair value | $26,517,524 |
Cash | 94,748 |
Receivable for investments sold | 1,643,196 |
Total Assets | 28,255,468 |
Liabilities: | |
Income distribution payable | 1,730 |
Payable to adviser (Note 5) | 3,632 |
Payable for administrative fee (Note 5) | 120 |
Payable for legal fees | 6,260 |
Payable for transfer agent fees | 2,385 |
Payable for portfolio accounting fees | 23,505 |
Payable for share registration costs | 8,451 |
Payable for printing and postage | 17,958 |
Accrued expenses (Note 5) | 1,180 |
Total Liabilities | 65,221 |
Net assets for 28,180,506 shares outstanding | $28,190,247 |
Net Assets Consist of: | |
Paid-in capital | $28,180,718 |
Total distributable earnings (loss) | 9,529 |
Total Net Assets | $28,190,247 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Wealth Shares: | |
$100 ÷ 100 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$16,148,786 ÷ 16,143,207 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$12,041,361 ÷ 12,037,199 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $286,924 |
Expenses: | |
Investment adviser fee (Note 5) | 112,857 |
Administrative fee (Note 5) | 29,693 |
Custodian fees | 3,261 |
Transfer agent fees (Note 2) | 20,103 |
Directors’/Trustees’ fees (Note 5) | 551 |
Auditing fees | 20,401 |
Legal fees | 8,904 |
Portfolio accounting fees | 81,991 |
Distribution services fee (Note 5) | 90,023 |
Other service fees (Notes 2 and 5) | 92,808 |
Share registration costs | 95,462 |
Printing and postage | 20,914 |
Miscellaneous (Note 5) | 6,791 |
TOTAL EXPENSES | 583,759 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (112,857) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (290,828) |
TOTAL WAIVERS AND REIMBURSEMENTS | (403,685) |
Net expenses | 180,074 |
Net investment income | 106,850 |
Net realized gain on investments | 8,710 |
Change in net assets resulting from operations | $115,560 |
Year Ended October 31 | 2020 | 2019 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $106,850 | $456,287 |
Net realized gain | 8,710 | 16,687 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 115,560 | 472,974 |
Distributions to Shareholders: | ||
Wealth Shares | 10 | (4,252) |
Service Shares | (83,057) | (200,193) |
Cash Series Shares | (40,099) | (251,635) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (123,156) | (456,080) |
Share Transactions: | ||
Proceeds from sale of shares | 74,807,139 | 168,315,304 |
Net asset value of shares issued to shareholders in payment of distributions declared | 105,395 | 417,629 |
Cost of shares redeemed | (83,947,132) | (200,010,997) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (9,034,598) | (31,278,064) |
Change in net assets | (9,042,194) | (31,261,170) |
Net Assets: | ||
Beginning of period | 37,232,441 | 68,493,611 |
End of period | $28,190,247 | $37,232,441 |
1 | Represents less than $1. |
Transfer Agent Fees Incurred | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Wealth Shares | $— | $— |
Service Shares | 10,434 | (3,624) |
Cash Series Shares | 9,669 | (2,700) |
TOTAL | $20,103 | $(6,324) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $55,298 | $(1,096) | $(33,878) |
Cash Series Shares | 37,510 | (167) | (19,430) |
TOTAL | $92,808 | $(1,263) | $(53,308) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | 589,044 | $589,044 |
Shares redeemed | — | — | (1,321,210) | (1,321,210) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | — | $— | (732,166) | $(732,166) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 29,737,657 | $29,737,657 | 49,789,838 | $49,789,838 |
Shares issued to shareholders in payment of distributions declared | 65,536 | 65,536 | 167,194 | 167,194 |
Shares redeemed | (30,758,896) | (30,758,896) | (52,486,251) | (52,486,251) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (955,703) | $(955,703) | (2,529,219) | $(2,529,219) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 45,069,482 | $45,069,482 | 117,936,422 | $117,936,422 |
Shares issued to shareholders in payment of distributions declared | 39,859 | 39,859 | 250,435 | 250,435 |
Shares redeemed | (53,188,236) | (53,188,236) | (146,203,536) | (146,203,536) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | (8,078,895) | $(8,078,895) | (28,016,679) | $(28,016,679) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (9,034,598) | $(9,034,598) | (31,278,064) | $(31,278,064) |
2020 | 2019 | |
Tax-exempt income | $106,468 | $456,080 |
Ordinary income1 | $1,999 | $— |
Long-term capital gains | $14,689 | $— |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed tax-exempt income | $820 |
Undistributed ordinary income2 | $2,274 |
Undistributed long-term capital gains | $6,435 |
2 | For tax purposes, short-term capital gains are considered ordinary income in determining distributable earnings. |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Cash Series Shares | $90,023 | $(56,510) |
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December 23, 2020
Beginning Account Value 5/1/2020 | Ending Account Value 10/31/2020 | Expenses Paid During Period1 | |
Actual: | |||
Wealth Shares | $1,000 | $1,000.20 | $21.06 |
Service Shares | $1,000 | $1,000.00 | $31.11 |
Cash Series Shares | $1,000 | $1,000.00 | $41.11 |
Hypothetical (assuming a 5% return before expenses): | |||
Wealth Shares | $1,000 | $1,024.08 | $21.07 |
Service Shares | $1,000 | $1,024.03 | $31.12 |
Cash Series Shares | $1,000 | $1,024.03 | $41.12 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Wealth Shares | 0.21% |
Service Shares | 0.22% |
Cash Series Shares | 0.22% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s current Fee Limit of 0.36% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.81 and $1.83, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.61% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $3.07 and $3.10, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash Series Shares current Fee Limit of 1.02% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $5.13 and $5.19, respectively. |
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: April 1989 | 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) |
Thomas R. Donahue* Birth Date: October 20, 1958 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Director or Trustee of certain of the funds in the Federated Hermes Fund Family; Chief Financial Officer, Treasurer, Vice President and Assistant Secretary, Federated Hermes, Inc.; Chairman and Trustee, Federated Administrative Services; Chairman and Director, Federated Administrative Services, Inc.; Trustee and Treasurer, Federated Advisory Services Company; Director or Trustee and Treasurer, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, and Federated Investment Management Company; Director, MDTA LLC; Director, Executive Vice President and Assistant Secretary, Federated Securities Corp.; Director or Trustee and Chairman, Federated Services Company and Federated Shareholder Services Company; and Director and President, FII Holdings, Inc. Previous Positions: Director, Federated Hermes, Inc.; Assistant Secretary, Federated Investment Management Company, Federated Global Investment Management Company and Passport Research, LTD; Treasurer, Passport Research, LTD; Executive Vice President, Federated Securities Corp.; and Treasurer, FII Holdings, 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 |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: September 2013 | Principal Occupations: Director or Trustee 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, and Chairman of the Compensation Committee, 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 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; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; 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; and Director and Chair, North Catholic High School, 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 |
Charles F. Mansfield, Jr. Birth Date: April 10, 1945 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant and Author. Other Directorships Held: None. Qualifications: Mr. Mansfield has served as a Marine Corps officer and in several banking, business management, educational roles and directorship positions throughout his long career. He remains active as a Management Consultant and Author. |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: October 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. Ms. Reilly also previously served as Chair of the Risk Management Committee for Holy Ghost Preparatory School, Philadelphia and Secretary and Chair of the Governance Committee, Oakland Catholic High School Board of Trustees, Pittsburgh. |
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 |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: September 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.); and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, 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 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. |
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. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Deborah A. Cunningham was named Chief Investment Officer of Federated Hermes’ money market products in 2004. She joined Federated Hermes in 1981 and has been a Senior Portfolio Manager since 1997 and an Executive Vice President of the Fund’s Adviser since 2009. Ms. Cunningham has received the Chartered Financial Analyst designation and holds an M.S.B.A. in Finance from Robert Morris College. |
Mary Jo Ochson Birth Date: September 12, 1953 CHIEF INVESTMENT OFFICER Officer since: May 2004 Portfolio Manager since: 1990 | Principal Occupations: Mary Jo Ochson has been the Fund’s Portfolio Manager since 1990. Ms. Ochson was named Chief Investment Officer of Federated’s tax-exempt fixed-income products in 2004 and Chief Investment Officer of Federated’s Tax-Free Money Markets in 2010. She joined Federated in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of the Fund’s Adviser since 1996. Ms. Ochson has received the Chartered Financial Analyst designation and holds an M.B.A. in Finance from the University of Pittsburgh. |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N518
CUSIP 608919882
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Share Class | Ticker | Wealth | NISXX | Service | FNTXX | Cash II | NYCXX |
Cash Series | FNCXX |
Federated Hermes New York Municipal Cash Trust
A Portfolio of Federated Hermes Money Market Obligations Trust
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Donahue
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Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 79.1% |
Municipal Notes | 20.7% |
Commercial Paper | 0.7% |
Other Assets and Liabilities—Net2 | (0.5)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 71.4% |
8-30 Days | 2.6% |
31-90 Days | 9.8% |
91-180 Days | 3.3% |
181 Days or more | 13.4% |
Other Assets and Liabilities—Net2 | (0.5)% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 100.5% | ||
New York— 100.5% | |||
$ 710,000 | Albany, NY IDA (Albany Local Development Corp.), (Series 2002: Corning Preserve/Hudson Riverfront) Weekly VRDNs, (KeyBank, N.A. LOC), 0.260%, 11/5/2020 | $710,000 | |
4,000,000 | Albany, NY IDA (Renaissance Corporation of Albany), (Series 2004) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/5/2020 | 4,000,000 | |
2,734,237 | Arlington, NY CSD BANs, 1.000%, 11/5/2021 | 2,747,826 | |
5,109,500 | Batavia Town, NY BANs, 1.500%, 3/11/2021 | 5,116,690 | |
10,000,000 | Battery Park, NY City Authority, RBC Muni Products (Series 2019-E-137) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.150%, 11/5/2020 | 10,000,000 | |
3,000,000 | Delaware Academy at Delhi, NY CSD BANs, 2.000%, 7/29/2021 | 3,029,537 | |
1,545,000 | East Aurora Village, NY BANs, 1.000%, 6/17/2021 | 1,545,988 | |
1,563,806 | East Meadow, NY Union Free School District, (Series D) BANs, 1.500%, 6/18/2021 | 1,568,172 | |
4,075,000 | East Rochester, NY Union Free School District BANs, 2.000%, 6/25/2021 | 4,101,084 | |
1,525,000 | Elba, NY BANs, 1.250%, 3/17/2021 | 1,526,402 | |
3,785,000 | Erie County, NY IDA (Our Lady of Victory Renaissance Corporation), (Series 2007A) Weekly VRDNs, (HSBC Bank USA, N.A. LOC), 0.150%, 11/5/2020 | 3,785,000 | |
5,000,000 | Granville, NY CSD, (Series A) BANs, 1.250%, 6/18/2021 | 5,013,991 | |
1,330,420 | Guilderland, NY CSD BANs, 1.250%, 7/9/2021 | 1,335,395 | |
2,500,000 | Hoosick Falls, NY CSD BANs, 1.000%, 9/10/2021 | 2,512,370 | |
6,750,000 | Hudson Yards Infrastructure Corp. NY, Tender Option Bond Trust Certificates (Series 2020-XF2859) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.220%, 11/5/2020 | 6,750,000 | |
5,030,000 | Hudson Yards Infrastructure Corp. NY, Tender Option Bond Trust Receipts (Series 2019-ZM0737) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.200%, 11/5/2020 | 5,030,000 | |
5,831,500 | Kingston, NY BANs, 1.250%, 3/19/2021 | 5,843,538 | |
5,000,000 | Lewiston-Porter, NY CSD BANs, 1.250%, 6/16/2021 | 5,018,522 | |
1,872,086 | Lloyd, NY BANs, 1.500%, 2/12/2021 | 1,873,644 | |
6,200,000 | Lyndonville, NY CSD BANs, 1.250%, 6/10/2021 | 6,222,360 | |
6,000,000 | Mechanicville, NY City School District BANs, 1.000%, 6/18/2021 | 6,003,584 | |
18,445,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Clipper Tax-Exempt Certificates Trust (Series 2009-71) Weekly VRDNs, (State Street Bank and Trust Co. LIQ)/(State Street Bank and Trust Co. LOC), 0.220%, 11/5/2020 | 18,445,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 5,000,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2018-XM0697) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.190%, 11/5/2020 | $5,000,000 | |
16,685,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2020-XF0917) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.220%, 11/5/2020 | 16,685,000 | |
16,670,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2020-XM0826) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.220%, 11/5/2020 | 16,670,000 | |
13,330,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2020-XM0835) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.220%, 11/5/2020 | 13,330,000 | |
3,075,000 | Monroe County, NY IDA (Continuing Developmental Services, Inc.), (Series 2007) Weekly VRDNs, (Citizens Bank, N.A., Providence LOC), 0.280%, 11/5/2020 | 3,075,000 | |
3,725,000 | Nassau County, NY, RBC Muni Products (Series 2018 G-5) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.150%, 11/5/2020 | 3,725,000 | |
8,960,000 | Nassau County, NY, Tender Option Bond Trust Certificates (Series 2019-XF2815) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 0.180%, 11/5/2020 | 8,960,000 | |
8,700,000 | Nassau County, NY, Tender Option Bond Trust Certificates (Series 2019-XF2816) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.240%, 11/5/2020 | 8,700,000 | |
1,045,000 | New York City Capital Resource Corp. (Cobble Hill Health Center, Inc.), Loan Enhanced Assistance Program (Series 2008B-1) Weekly VRDNs, (Bank of America N.A. LOC), 0.140%, 11/5/2020 | 1,045,000 | |
685,000 | New York City Capital Resource Corp. (Cobble Hill Health Center, Inc.), Loan Enhanced Assistance Program (Series 2008B-3) Weekly VRDNs, (Bank of America N.A. LOC), 0.160%, 11/5/2020 | 685,000 | |
250,000 | New York City Housing Development Corp. (West 26th Street Development), (Series 2012A) Weekly VRDNs, (FHLMC LOC), 0.110%, 11/5/2020 | 250,000 | |
1,400,000 | New York City Housing Development Corp., Sustainable Neighborhood Bonds (2017 Series C-4) Weekly VRDNs, (Wells Fargo Bank, N.A. LIQ), 0.130%, 11/5/2020 | 1,400,000 | |
3,000,000 | New York City Housing Development Corp., Tender Option Bond Trust Certificates (Series 2019-ZF2786) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 3,000,000 | |
4,000,000 | New York City Housing Development Corp., Tender Option Bond Trust Certificates (Series 2019-ZF2787) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 4,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 1,745,000 | New York City Trust For Cultural Resources (New York Botanical Garden), (Series 2009A) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.130%, 11/5/2020 | $1,745,000 | |
5,550,000 | New York City, NY Health and Hospitals Corp., Health System Bonds (Series 2008C) Weekly VRDNs, (TD Bank, N.A. LOC), 0.110%, 11/4/2020 | 5,550,000 | |
2,000,000 | New York City, NY Municipal Water Finance Authority, (Fiscal 2000 Series C) Weekly VRDNs, (Sumitomo Mitsui Banking Corp. LIQ), 0.140%, 11/4/2020 | 2,000,000 | |
990,000 | New York City, NY Municipal Water Finance Authority, (Series 2010CC) Weekly VRDNs, (Barclays Bank PLC LIQ), 0.110%, 11/5/2020 | 990,000 | |
3,850,000 | New York City, NY Municipal Water Finance Authority, (Series A-1) Daily VRDNs, (Mizuho Bank Ltd. LOC), 0.110%, 11/2/2020 | 3,850,000 | |
2,100,000 | New York City, NY Municipal Water Finance Authority, Second General Resolution (Fiscal 2009 Series BB-2) Daily VRDNs, (Landesbank Hessen- Thuringen LIQ), 0.120%, 11/2/2020 | 2,100,000 | |
3,465,000 | New York City, NY Municipal Water Finance Authority, Tender Option Bond Trust Receipts (Series 2020-XM0874) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 3,465,000 | |
2,250,000 | New York City, NY Transitional Finance Authority, Fiscal 2018 (Subseries C-6) Weekly VRDNs, (Sumitomo Mitsui Banking Corp. LIQ), 0.140%, 11/5/2020 | 2,250,000 | |
15,000,000 | New York City, NY Transitional Finance Authority, Stage Trust 3a-7 (Series 2020-002) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.270%, 11/5/2020 | 15,000,000 | |
3,940,000 | New York City, NY Transitional Finance Authority, Tender Option Bond Trust Receipts (Series 2020-XF0963) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 3,940,000 | |
1,175,000 | New York City, NY, (Fiscal 2006 Series F-3) Weekly VRDNs, (Sumitomo Mitsui Banking Corp. LOC), 0.140%, 11/5/2020 | 1,175,000 | |
400,000 | New York City, NY, (Subseries A-7) Daily VRDNs, (Bank of the West, San Francisco, CA LOC), 0.140%, 11/2/2020 | 400,000 | |
10,620,000 | New York City, NY, Stage Trust 3a-7 (Series 2020-003) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.520%, 11/5/2020 | 10,620,000 | |
10,880,000 | New York State Dormitory Authority (Blythedale Children’s Hospital), (Series 2009) Weekly VRDNs, (TD Bank, N.A. LOC), 0.140%, 11/5/2020 | 10,880,000 | |
3,750,000 | New York State Dormitory Authority (New York State Personal Income Tax Revenue Bond Fund), Tender Option Bond Trust Receipts (Series 2020-XF0951) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 3,750,000 | |
10,000,000 | New York State Dormitory Authority (St. John’s University), Clipper Tax- Exempt Certificates Trust (2009-45) TOBs, (State Street Bank and Trust Co. LIQ)/(State Street Bank and Trust Co. LOC), 0.290%, Optional Tender 12/10/2020 | 10,000,000 | |
5,600,000 | New York State Dormitory Authority State Personal Income Tax Revenue, Tender Option Bond Trust Receipts (Series 2018-XG0218) Weekly VRDNs, (Bank of America N.A. LIQ), 0.150%, 11/5/2020 | 5,600,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 750,000 | New York State Energy Research & Development Authority (Consolidated Edison Co.), (Series 2005A-1) Weekly VRDNs, (Mizuho Bank Ltd. LOC), 0.110%, 11/4/2020 | $750,000 | |
2,590,000 | New York State Energy Research & Development Authority (Consolidated Edison Co.), (Series 2005A-3) Weekly VRDNs, (Mizuho Bank Ltd. LOC), 0.130%, 11/4/2020 | 2,590,000 | |
5,500,000 | New York State HFA (100 Maiden Lane), (2004 Series A) Weekly VRDNs, (FNMA LOC), 0.120%, 11/4/2020 | 5,500,000 | |
9,900,000 | New York State HFA (160 Madison Ave, LLC), (Series 2014A) Daily VRDNs, (Landesbank Hessen-Thuringen LOC), 0.120%, 11/2/2020 | 9,900,000 | |
9,665,000 | New York State HFA (160 Madison Avenue), (2013 Series A) Daily VRDNs, (Landesbank Hessen-Thuringen LOC), 0.120%, 11/2/2020 | 9,665,000 | |
800,000 | New York State HFA (29 Flatbush Associates, LLC), (Series 2010A: 29 Flatbush Avenue) Weekly VRDNs, (Landesbank Hessen- Thuringen LOC), 0.130%, 11/4/2020 | 800,000 | |
1,800,000 | New York State HFA (29 Flatbush Associates, LLC), (Series A) Weekly VRDNs, (Landesbank Hessen-Thuringen LOC), 0.130%, 11/4/2020 | 1,800,000 | |
1,350,000 | New York State HFA (326 Riverdale Owners LLC), (Series 2008A: 330 Riverdale Avenue Apartments) Weekly VRDNs, (Bank of America N.A. LOC), 0.130%, 11/4/2020 | 1,350,000 | |
5,985,000 | New York State HFA (600 West 42nd Street), (2009 Series A) Weekly VRDNs, (FNMA LOC), 0.120%, 11/4/2020 | 5,985,000 | |
7,320,000 | New York State HFA (8 East 102nd Street Housing), (Series 2010A) Weekly VRDNs, (TD Bank, N.A. LOC), 0.110%, 11/4/2020 | 7,320,000 | |
6,990,000 | New York State HFA, (2010 Series A) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/4/2020 | 6,990,000 | |
1,175,000 | New York State HFA, Service Contract Revenue Refunding Bonds (Series 2003L) Weekly VRDNs, (Bank of America N.A. LOC), 0.110%, 11/4/2020 | 1,175,000 | |
585,000 | New York State HFA, Service Contract Revenue Refunding Bonds (Series 2003M-1) Weekly VRDNs, (Bank of America N.A. LOC), 0.110%, 11/4/2020 | 585,000 | |
2,950,000 | New York State HFA, Tender Option Bond Trust Certificates (Series 2019-ZF2800) Weekly VRDNs, (Barclays Bank PLC LIQ), 0.160%, 11/5/2020 | 2,950,000 | |
3,100,000 | New York State Power Authority, (Series 2), CP, (JPMorgan Chase Bank, N.A. LIQ)/(State Street Bank and Trust Co. LIQ)/(TD Bank, N.A. LIQ)/(Wells Fargo Bank, N.A. LIQ), 0.280%, Mandatory Tender 12/2/2020 | 3,100,000 | |
2,250,000 | New York State Power Authority, Tender Option Bond Trust Receipts (Series 2020-XF0945) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 2,250,000 | |
2,250,000 | New York State Power Authority, Tender Option Bond Trust Receipts (Series 2020-XF0946) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 2,250,000 | |
3,000,000 | New York State Power Authority, Tender Option Bond Trust Receipts (Series 2020-XF0947) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.160%, 11/5/2020 | 3,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 5,500,000 | New York State Power Authority, Tender Option Bond Trust Receipts (Series 2020-XF0956) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | $5,500,000 | |
5,000,000 | New York State Power Authority, Tender Option Bond Trust Receipts (Series 2020-ZF0949) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.160%, 11/5/2020 | 5,000,000 | |
5,500,000 | New York State Urban Development Corp. (New York State Personal Income Tax Revenue Bond Fund), Clipper Tax-Exempt Certificates Trust (Series 2009-35) Weekly VRDNs, (State Street Bank and Trust Co. LIQ)/ (State Street Bank and Trust Co. LOC), 0.150%, 11/5/2020 | 5,500,000 | |
7,500,000 | New York State Urban Development Corp. (New York State Personal Income Tax Revenue Bond Fund), Tender Option Bond Trust Receipts (Series 2018-XM0636) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 7,500,000 | |
14,500,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 1) Weekly VRDPs, (Citibank N.A., New York LIQ), 0.170%, 11/5/2020 | 14,500,000 | |
10,000,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 5) Weekly VRDPs, (TD Bank, N.A. LIQ), 0.180%, 11/5/2020 | 10,000,000 | |
4,640,000 | Onondaga County, NY IDA (Syracuse Research Corp.), (Series 2007) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/5/2020 | 4,640,000 | |
7,720,000 | Ontario County, NY Industrial Development Agency (Friends of the Finger Lakes Performing Arts Center, Inc.), (Series 2005A) Monthly VRDNs, (Citizens Bank, N.A., Providence LOC), 0.520%, 11/2/2020 | 7,720,000 | |
1,500,000 | Orange County, NY IDA (Tuxedo Park School), (Series 2002) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/5/2020 | 1,500,000 | |
2,000,000 | Philipstown, NY BANs, 1.500%, 1/22/2021 | 2,001,105 | |
1,100,000 | Port Authority of New York and New Jersey, Tender Option Bond Trust Certificates (2015-ZM0099) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.200%, 11/5/2020 | 1,100,000 | |
1,535,000 | Rensselaer County, NY IDA (WMHT Educational Telecommunications), Civic Facility Revenue Bonds (Series 2003A) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/5/2020 | 1,535,000 | |
1,772,764 | Rhinebeck, NY BANs, 1.500%, 1/29/2021 | 1,773,910 | |
8,000,000 | Salina, NY BANs, 1.250%, 6/11/2021 | 8,031,433 | |
4,000,000 | Schoharie County, NY BANs, 1.500%, 6/18/2021 | 4,023,691 | |
2,484,400 | Sidney, NY CSD BANs, 1.250%, 8/6/2021 | 2,496,624 | |
610,000 | Suffolk County, NY IDA (Guide Dog Foundation Inc.) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.160%, 11/5/2020 | 610,000 | |
2,500,000 | Sweet Home, NY CSD BANs, 1.250%, 7/8/2021 | 2,510,671 | |
3,633,370 | Tarrytown, NY, (Series A) BANs, 1.500%, 11/19/2020 | 3,634,428 | |
4,470,000 | Utica, NY Industrial Development Agency Civic Facility (Munson-Williams- Proctor Arts Institute), (Series 2006) Weekly VRDNs, (Citizens Bank, N.A., Providence LOC), 0.200%, 11/5/2020 | 4,470,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 1,972,500 | Watertown, NY (City of) BANs, 1.750%, 5/19/2021 | $1,977,909 | |
TOTAL INVESTMENT IN SECURITIES—100.5% (AT AMORTIZED COST)2 | 436,003,874 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.5)%3 | (2,111,846) | ||
TOTAL NET ASSETS—100% | $433,892,028 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
BANs | —Bond Anticipation Notes | |
CP | —Commercial Paper | |
CSD | —Central School District | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
FNMA | —Federal National Mortgage Association | |
HFA | —Housing Finance Authority | |
IDA | —Industrial Development Authority | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
TOBs | —Tender Option Bonds | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.006 | 0.013 | 0.011 | 0.006 | 0.002 |
Net realized gain (loss) | 0.0001 | 0.0001 | — | 0.0001 | — |
TOTAL FROM INVESTMENT OPERATIONS | 0.006 | 0.013 | 0.011 | 0.006 | 0.002 |
Less Distributions: | |||||
Distributions from net investment income | (0.006) | (0.013) | (0.011) | (0.006) | (0.002) |
Distributions from net realized gain | (0.000)1 | — | (0.000)1 | — | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.006) | (0.013) | (0.011) | (0.006) | (0.002) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.58% | 1.33% | 1.08% | 0.56% | 0.16% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.32% | 0.32% | 0.32% | 0.32% | 0.22%4 |
Net investment income | 0.64% | 1.31% | 1.10% | 0.58% | 0.10% |
Expense waiver/reimbursement5 | 0.19% | 0.17% | 0.25% | 0.34% | 0.40% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $179,225 | $326,684 | $211,511 | $111,061 | $70,496 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.22% after taking into account these expense reductions. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.004 | 0.011 | 0.009 | 0.003 | 0.001 |
Net realized gain (loss) | 0.0001 | 0.0001 | — | 0.0001 | — |
Total From Investment Operations | 0.004 | 0.011 | 0.009 | 0.003 | 0.001 |
Less Distributions: | |||||
Distributions from net investment income | (0.004) | (0.011) | (0.009) | (0.003) | (0.001) |
Distributions from net realized gain | (0.000)1 | — | (0.000)1 | — | (0.000)1 |
Total Distributions | (0.004) | (0.011) | (0.009) | (0.003) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.43% | 1.11% | 0.86% | 0.34% | 0.06% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.46% | 0.54% | 0.54% | 0.54% | 0.30%4 |
Net investment income | 0.42% | 1.09% | 0.82% | 0.35% | 0.02% |
Expense waiver/reimbursement5 | 0.55% | 0.45% | 0.55% | 0.62% | 0.79% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $221,000 | $219,665 | $28,662 | $64,510 | $35,692 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.30% after taking into account these expense reductions. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.003 | 0.009 | 0.006 | 0.001 | 0.0001 |
Net realized gain (loss) | 0.0001 | 0.0001 | — | 0.0001 | — |
Total From Investment Operations | 0.003 | 0.009 | 0.006 | 0.001 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.003) | (0.009) | (0.006) | (0.001) | (0.000)1 |
Distributions from net realized gain | (0.000)1 | — | (0.000)1 | — | (0.000)1 |
Total Distributions | (0.003) | (0.009) | (0.006) | (0.001) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.32% | 0.87% | 0.63% | 0.13% | 0.02% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.61% | 0.77% | 0.77% | 0.76% | 0.29%4 |
Net investment income | 0.37% | 0.87% | 0.62% | 0.13% | 0.01% |
Expense waiver/reimbursement5 | 0.40% | 0.22% | 0.32% | 0.41% | 0.81% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $7,515 | $9,952 | $9,535 | $10,982 | $8,457 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.29% after taking into account these expense reductions. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.002 | 0.006 | 0.004 | 0.0001 | 0.0001 |
Net realized gain | 0.0001 | 0.0001 | — | 0.0001 | — |
Total From Investment Operations | 0.002 | 0.006 | 0.004 | 0.0001 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.002) | (0.006) | (0.004) | (0.000)1 | (0.000)1 |
Distributions from net realized gain | (0.000)1 | — | (0.000)1 | — | (0.000)1 |
Total Distributions | (0.002) | (0.006) | (0.004) | (0.000)1 | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.21% | 0.62% | 0.38% | 0.01% | 0.02% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.71% | 1.02% | 1.02% | 0.86% | 0.36%4 |
Net investment income | 0.21% | 0.63% | 0.33% | 0.01% | 0.01% |
Expense waiver/reimbursement5 | 0.65% | 0.32% | 0.42% | 0.65% | 1.11% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $26,151 | $25,450 | $35,414 | $141,388 | $172,288 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.36% after taking into account these expense reductions. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in securities, at amortized cost and fair value | $436,003,874 |
Cash | 147,929 |
Income receivable | 605,576 |
Receivable for shares sold | 13,708 |
Total Assets | 436,771,087 |
Liabilities: | |
Payable for investments purchased | 2,747,826 |
Payable for shares redeemed | 14,787 |
Income distribution payable | 187 |
Payable for investment adviser fee (Note 5) | 12,335 |
Payable for administrative fee (Note 5) | 1,847 |
Accrued expenses (Note 5) | 102,077 |
Total Liabilities | 2,879,059 |
Net assets for 433,879,119 shares outstanding | $433,892,028 |
Net Assets Consist of: | |
Paid-in capital | $433,879,119 |
Total distributable earnings (loss) | 12,909 |
Total Net Assets | $433,892,028 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Wealth Shares: | |
$179,225,159 ÷ 179,219,827 outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$221,000,016 ÷ 220,993,440 outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$7,515,483 ÷ 7,515,260 outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$26,151,370 ÷ 26,150,592 outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $4,980,222 |
Dividends | 8,548 |
TOTAL INCOME | 4,988,770 |
Expenses: | |
Investment adviser fee (Note 5) | 1,616,475 |
Administrative fee (Note 5) | 422,248 |
Custodian fees | 19,899 |
Transfer agent fees | 335,537 |
Directors’/Trustees’ fees (Note 5) | 3,142 |
Auditing fees | 22,100 |
Legal fees | 11,919 |
Portfolio accounting fees | 156,130 |
Distribution services fee (Note 5) | 765,638 |
Other service fees (Notes 2 and 5) | 672,975 |
Share registration costs | 116,664 |
Printing and postage | 23,042 |
Miscellaneous (Note 5) | 9,170 |
TOTAL EXPENSES | 4,174,939 |
Waivers and Reimbursement: | |
Waiver of investment adviser fee (Note 5) | (1,019,172) |
Waivers/reimbursement of other operating expenses (Notes 2 and 5) | (968,567) |
TOTAL WAIVERS AND REIMBURSEMENT | (1,987,739) |
Net expenses | 2,187,200 |
Net investment income | 2,801,570 |
Net realized gain on investments | 11 |
Change in net assets resulting from operations | $2,801,581 |
Year Ended October 31 | 2020 | 2019 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $2,801,570 | $5,990,875 |
Net realized gain (loss) | 11 | 40,695 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 2,801,581 | 6,031,570 |
Distributions to Shareholders: | ||
Wealth Shares | (1,748,534) | (3,653,828) |
Service Shares | (989,900) | (2,023,356) |
Cash II Shares | (39,609) | (91,932) |
Cash Series Shares | (56,641) | (219,584) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (2,834,684) | (5,988,700) |
Share Transactions: | ||
Proceeds from sale of shares | 728,478,378 | 998,159,264 |
Net asset value of shares issued to shareholders in payment of distributions declared | 2,631,762 | 5,636,656 |
Cost of shares redeemed | (878,935,813) | (707,209,918) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (147,825,673) | 296,586,002 |
Change in net assets | (147,858,776) | 296,628,872 |
Net Assets: | ||
Beginning of period | 581,750,804 | 285,121,932 |
End of period | $433,892,028 | $581,750,804 |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $580,436 | $(125,976) | $(188,323) |
Cash II Shares | 26,550 | (206) | (11,249) |
Cash Series Shares | 65,989 | (656) | (35,463) |
TOTAL | $672,975 | $(126,838) | $(235,035) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | 312,197,082 | $312,197,082 | 506,187,750 | $506,187,750 |
Shares issued to shareholders in payment of distributions declared | 1,568,473 | 1,568,473 | 3,407,502 | 3,407,502 |
Shares redeemed | (461,203,973) | (461,203,973) | (394,445,382) | (394,445,382) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | (147,438,418) | $(147,438,418) | 115,149,870 | $115,149,870 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 337,808,998 | $337,808,998 | 443,173,878 | $443,173,878 |
Shares issued to shareholders in payment of distributions declared | 968,768 | 968,768 | 1,922,304 | 1,922,304 |
Shares redeemed | (337,431,788) | (337,431,788) | (254,110,633) | (254,110,633) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 1,345,978 | $1,345,978 | 190,985,549 | $190,985,549 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 12,357,244 | $12,357,244 | 12,141,971 | $12,141,971 |
Shares issued to shareholders in payment of distributions declared | 39,403 | 39,403 | 90,573 | 90,573 |
Shares redeemed | (14,832,345) | (14,832,345) | (11,816,363) | (11,816,363) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | (2,435,698) | $(2,435,698) | 416,181 | $416,181 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 66,115,054 | $66,115,054 | 36,655,665 | $36,655,665 |
Shares issued to shareholders in payment of distributions declared | 55,118 | 55,118 | 216,277 | 216,277 |
Shares redeemed | (65,467,707) | (65,467,707) | (46,837,540) | (46,837,540) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 702,465 | $702,465 | (9,965,598) | $(9,965,598) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (147,825,673) | $(147,825,673) | 296,586,002 | $296,586,002 |
2020 | 2019 | |
Tax-exempt income | $2,793,986 | $5,988,700 |
Ordinary income1 | $40,698 | $— |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed tax-exempt income2 | $12,901 |
Undistributed ordinary income | $8 |
2 | For tax purposes, short-term capital gains are considered ordinary income in determining distributable earnings. |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Percentage of Average Daily Net Assets of Class | |
Service Shares | 0.25% |
Cash II Shares | 0.25% |
Cash Series Shares | 0.60% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Service Shares | $580,713 | $(510,601) |
Cash II Shares | 26,550 | (10,793) |
Cash Series Shares | 158,375 | (85,300) |
TOTAL | $765,638 | $(606,694) |
![](https://capedge.com/proxy/N-CSR/0001623632-20-002126/ernstyoungsig.jpg)
December 23, 2020
Beginning Account Value 5/1/2020 | Ending Account Value 10/31/2020 | Expenses Paid During Period1 | |
Actual: | |||
Wealth Shares | $1,000 | $1,000.40 | $1.56 |
Service Shares | $1,000 | $1,000.10 | $22.11 |
Cash II Shares | $1,000 | $1,000.00 | $32.36 |
Cash Series Shares | $1,000 | $1,000.00 | $41.71 |
Hypothetical (assuming a 5% return before expenses): | |||
Wealth Shares | $1,000 | $1,023.58 | $1.58 |
Service Shares | $1,000 | $1,023.03 | $22.14 |
Cash II Shares | $1,000 | $1,022.77 | $32.39 |
Cash Series Shares | $1,000 | $1,023.43 | $41.73 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Wealth Shares | 0.31% |
Service Shares | 0.42% |
Cash II Shares | 0.47% |
Cash Series Shares | 0.34% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.54% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $2.71 and $2.75, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash II Shares current Fee Limit of 0.77% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $3.87 and $3.91, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash Series Shares current Fee Limit of 1.02% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $5.13 and $5.18, respectively. |
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: April 1989 | 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) |
Thomas R. Donahue* Birth Date: October 20, 1958 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Director or Trustee of certain of the funds in the Federated Hermes Fund Family; Chief Financial Officer, Treasurer, Vice President and Assistant Secretary, Federated Hermes, Inc.; Chairman and Trustee, Federated Administrative Services; Chairman and Director, Federated Administrative Services, Inc.; Trustee and Treasurer, Federated Advisory Services Company; Director or Trustee and Treasurer, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, and Federated Investment Management Company; Director, MDTA LLC; Director, Executive Vice President and Assistant Secretary, Federated Securities Corp.; Director or Trustee and Chairman, Federated Services Company and Federated Shareholder Services Company; and Director and President, FII Holdings, Inc. Previous Positions: Director, Federated Hermes, Inc.; Assistant Secretary, Federated Investment Management Company, Federated Global Investment Management Company and Passport Research, LTD; Treasurer, Passport Research, LTD; Executive Vice President, Federated Securities Corp.; and Treasurer, FII Holdings, 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 |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: September 2013 | Principal Occupations: Director or Trustee 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, and Chairman of the Compensation Committee, 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 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; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; 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; and Director and Chair, North Catholic High School, 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 |
Charles F. Mansfield, Jr. Birth Date: April 10, 1945 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant and Author. Other Directorships Held: None. Qualifications: Mr. Mansfield has served as a Marine Corps officer and in several banking, business management, educational roles and directorship positions throughout his long career. He remains active as a Management Consultant and Author. |
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. Ms. Reilly also previously served as Chair of the Risk Management Committee for Holy Ghost Preparatory School, Philadelphia and Secretary and Chair of the Governance Committee, Oakland Catholic High School Board of Trustees, Pittsburgh. |
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 |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: September 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.); and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, 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 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. |
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. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Deborah A. Cunningham was named Chief Investment Officer of Federated Hermes’ money market products in 2004. She joined Federated Hermes in 1981 and has been a Senior Portfolio Manager since 1997 and an Executive Vice President of the Fund’s Adviser since 2009. Ms. Cunningham has received the Chartered Financial Analyst designation and holds an M.S.B.A. in Finance from Robert Morris College. |
Mary Jo Ochson Birth Date: September 12, 1953 CHIEF INVESTMENT OFFICER Officer since: May 2004 | Principal Occupations: Mary Jo Ochson was named Chief Investment Officer of Federated Hermes’ tax-exempt, fixed-income products in 2004 and Chief Investment Officer of Federated Hermes’ Tax-Free Money Markets in 2010. She joined Federated Hermes in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of the Fund’s Adviser since 1996. Ms. Ochson has received the Chartered Financial Analyst designation and holds an M.B.A. in Finance from the University of Pittsburgh. |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N294
CUSIP 60934N310
CUSIP 608919866
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Share Class | Ticker | Wealth | NISXX |
Federated Hermes New York Municipal Cash Trust
A Portfolio of Federated Hermes Money Market Obligations Trust
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Donahue
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Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 79.1% |
Municipal Notes | 20.7% |
Commercial Paper | 0.7% |
Other Assets and Liabilities—Net2 | (0.5)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 71.4% |
8-30 Days | 2.6% |
31-90 Days | 9.8% |
91-180 Days | 3.3% |
181 Days or more | 13.4% |
Other Assets and Liabilities—Net2 | (0.5)% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 100.5% | ||
New York— 100.5% | |||
$ 710,000 | Albany, NY IDA (Albany Local Development Corp.), (Series 2002: Corning Preserve/Hudson Riverfront) Weekly VRDNs, (KeyBank, N.A. LOC), 0.260%, 11/5/2020 | $710,000 | |
4,000,000 | Albany, NY IDA (Renaissance Corporation of Albany), (Series 2004) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/5/2020 | 4,000,000 | |
2,734,237 | Arlington, NY CSD BANs, 1.000%, 11/5/2021 | 2,747,826 | |
5,109,500 | Batavia Town, NY BANs, 1.500%, 3/11/2021 | 5,116,690 | |
10,000,000 | Battery Park, NY City Authority, RBC Muni Products (Series 2019-E-137) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.150%, 11/5/2020 | 10,000,000 | |
3,000,000 | Delaware Academy at Delhi, NY CSD BANs, 2.000%, 7/29/2021 | 3,029,537 | |
1,545,000 | East Aurora Village, NY BANs, 1.000%, 6/17/2021 | 1,545,988 | |
1,563,806 | East Meadow, NY Union Free School District, (Series D) BANs, 1.500%, 6/18/2021 | 1,568,172 | |
4,075,000 | East Rochester, NY Union Free School District BANs, 2.000%, 6/25/2021 | 4,101,084 | |
1,525,000 | Elba, NY BANs, 1.250%, 3/17/2021 | 1,526,402 | |
3,785,000 | Erie County, NY IDA (Our Lady of Victory Renaissance Corporation), (Series 2007A) Weekly VRDNs, (HSBC Bank USA, N.A. LOC), 0.150%, 11/5/2020 | 3,785,000 | |
5,000,000 | Granville, NY CSD, (Series A) BANs, 1.250%, 6/18/2021 | 5,013,991 | |
1,330,420 | Guilderland, NY CSD BANs, 1.250%, 7/9/2021 | 1,335,395 | |
2,500,000 | Hoosick Falls, NY CSD BANs, 1.000%, 9/10/2021 | 2,512,370 | |
6,750,000 | Hudson Yards Infrastructure Corp. NY, Tender Option Bond Trust Certificates (Series 2020-XF2859) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.220%, 11/5/2020 | 6,750,000 | |
5,030,000 | Hudson Yards Infrastructure Corp. NY, Tender Option Bond Trust Receipts (Series 2019-ZM0737) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.200%, 11/5/2020 | 5,030,000 | |
5,831,500 | Kingston, NY BANs, 1.250%, 3/19/2021 | 5,843,538 | |
5,000,000 | Lewiston-Porter, NY CSD BANs, 1.250%, 6/16/2021 | 5,018,522 | |
1,872,086 | Lloyd, NY BANs, 1.500%, 2/12/2021 | 1,873,644 | |
6,200,000 | Lyndonville, NY CSD BANs, 1.250%, 6/10/2021 | 6,222,360 | |
6,000,000 | Mechanicville, NY City School District BANs, 1.000%, 6/18/2021 | 6,003,584 | |
18,445,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Clipper Tax-Exempt Certificates Trust (Series 2009-71) Weekly VRDNs, (State Street Bank and Trust Co. LIQ)/(State Street Bank and Trust Co. LOC), 0.220%, 11/5/2020 | 18,445,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 5,000,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2018-XM0697) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.190%, 11/5/2020 | $5,000,000 | |
16,685,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2020-XF0917) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.220%, 11/5/2020 | 16,685,000 | |
16,670,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2020-XM0826) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.220%, 11/5/2020 | 16,670,000 | |
13,330,000 | Metropolitan Transportation Authority, NY (MTA Transportation Revenue), Tender Option Bond Trust Receipts (Series 2020-XM0835) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(JPMorgan Chase Bank, N.A. LIQ), 0.220%, 11/5/2020 | 13,330,000 | |
3,075,000 | Monroe County, NY IDA (Continuing Developmental Services, Inc.), (Series 2007) Weekly VRDNs, (Citizens Bank, N.A., Providence LOC), 0.280%, 11/5/2020 | 3,075,000 | |
3,725,000 | Nassau County, NY, RBC Muni Products (Series 2018 G-5) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.150%, 11/5/2020 | 3,725,000 | |
8,960,000 | Nassau County, NY, Tender Option Bond Trust Certificates (Series 2019-XF2815) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Barclays Bank PLC LIQ), 0.180%, 11/5/2020 | 8,960,000 | |
8,700,000 | Nassau County, NY, Tender Option Bond Trust Certificates (Series 2019-XF2816) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.240%, 11/5/2020 | 8,700,000 | |
1,045,000 | New York City Capital Resource Corp. (Cobble Hill Health Center, Inc.), Loan Enhanced Assistance Program (Series 2008B-1) Weekly VRDNs, (Bank of America N.A. LOC), 0.140%, 11/5/2020 | 1,045,000 | |
685,000 | New York City Capital Resource Corp. (Cobble Hill Health Center, Inc.), Loan Enhanced Assistance Program (Series 2008B-3) Weekly VRDNs, (Bank of America N.A. LOC), 0.160%, 11/5/2020 | 685,000 | |
250,000 | New York City Housing Development Corp. (West 26th Street Development), (Series 2012A) Weekly VRDNs, (FHLMC LOC), 0.110%, 11/5/2020 | 250,000 | |
1,400,000 | New York City Housing Development Corp., Sustainable Neighborhood Bonds (2017 Series C-4) Weekly VRDNs, (Wells Fargo Bank, N.A. LIQ), 0.130%, 11/5/2020 | 1,400,000 | |
3,000,000 | New York City Housing Development Corp., Tender Option Bond Trust Certificates (Series 2019-ZF2786) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 3,000,000 | |
4,000,000 | New York City Housing Development Corp., Tender Option Bond Trust Certificates (Series 2019-ZF2787) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 4,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 1,745,000 | New York City Trust For Cultural Resources (New York Botanical Garden), (Series 2009A) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.130%, 11/5/2020 | $1,745,000 | |
5,550,000 | New York City, NY Health and Hospitals Corp., Health System Bonds (Series 2008C) Weekly VRDNs, (TD Bank, N.A. LOC), 0.110%, 11/4/2020 | 5,550,000 | |
2,000,000 | New York City, NY Municipal Water Finance Authority, (Fiscal 2000 Series C) Weekly VRDNs, (Sumitomo Mitsui Banking Corp. LIQ), 0.140%, 11/4/2020 | 2,000,000 | |
990,000 | New York City, NY Municipal Water Finance Authority, (Series 2010CC) Weekly VRDNs, (Barclays Bank PLC LIQ), 0.110%, 11/5/2020 | 990,000 | |
3,850,000 | New York City, NY Municipal Water Finance Authority, (Series A-1) Daily VRDNs, (Mizuho Bank Ltd. LOC), 0.110%, 11/2/2020 | 3,850,000 | |
2,100,000 | New York City, NY Municipal Water Finance Authority, Second General Resolution (Fiscal 2009 Series BB-2) Daily VRDNs, (Landesbank Hessen- Thuringen LIQ), 0.120%, 11/2/2020 | 2,100,000 | |
3,465,000 | New York City, NY Municipal Water Finance Authority, Tender Option Bond Trust Receipts (Series 2020-XM0874) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 3,465,000 | |
2,250,000 | New York City, NY Transitional Finance Authority, Fiscal 2018 (Subseries C-6) Weekly VRDNs, (Sumitomo Mitsui Banking Corp. LIQ), 0.140%, 11/5/2020 | 2,250,000 | |
15,000,000 | New York City, NY Transitional Finance Authority, Stage Trust 3a-7 (Series 2020-002) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.270%, 11/5/2020 | 15,000,000 | |
3,940,000 | New York City, NY Transitional Finance Authority, Tender Option Bond Trust Receipts (Series 2020-XF0963) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 3,940,000 | |
1,175,000 | New York City, NY, (Fiscal 2006 Series F-3) Weekly VRDNs, (Sumitomo Mitsui Banking Corp. LOC), 0.140%, 11/5/2020 | 1,175,000 | |
400,000 | New York City, NY, (Subseries A-7) Daily VRDNs, (Bank of the West, San Francisco, CA LOC), 0.140%, 11/2/2020 | 400,000 | |
10,620,000 | New York City, NY, Stage Trust 3a-7 (Series 2020-003) VRENs, (Wells Fargo Bank, N.A. LIQ), 0.520%, 11/5/2020 | 10,620,000 | |
10,880,000 | New York State Dormitory Authority (Blythedale Children’s Hospital), (Series 2009) Weekly VRDNs, (TD Bank, N.A. LOC), 0.140%, 11/5/2020 | 10,880,000 | |
3,750,000 | New York State Dormitory Authority (New York State Personal Income Tax Revenue Bond Fund), Tender Option Bond Trust Receipts (Series 2020-XF0951) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 3,750,000 | |
10,000,000 | New York State Dormitory Authority (St. John’s University), Clipper Tax- Exempt Certificates Trust (2009-45) TOBs, (State Street Bank and Trust Co. LIQ)/(State Street Bank and Trust Co. LOC), 0.290%, Optional Tender 12/10/2020 | 10,000,000 | |
5,600,000 | New York State Dormitory Authority State Personal Income Tax Revenue, Tender Option Bond Trust Receipts (Series 2018-XG0218) Weekly VRDNs, (Bank of America N.A. LIQ), 0.150%, 11/5/2020 | 5,600,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 750,000 | New York State Energy Research & Development Authority (Consolidated Edison Co.), (Series 2005A-1) Weekly VRDNs, (Mizuho Bank Ltd. LOC), 0.110%, 11/4/2020 | $750,000 | |
2,590,000 | New York State Energy Research & Development Authority (Consolidated Edison Co.), (Series 2005A-3) Weekly VRDNs, (Mizuho Bank Ltd. LOC), 0.130%, 11/4/2020 | 2,590,000 | |
5,500,000 | New York State HFA (100 Maiden Lane), (2004 Series A) Weekly VRDNs, (FNMA LOC), 0.120%, 11/4/2020 | 5,500,000 | |
9,900,000 | New York State HFA (160 Madison Ave, LLC), (Series 2014A) Daily VRDNs, (Landesbank Hessen-Thuringen LOC), 0.120%, 11/2/2020 | 9,900,000 | |
9,665,000 | New York State HFA (160 Madison Avenue), (2013 Series A) Daily VRDNs, (Landesbank Hessen-Thuringen LOC), 0.120%, 11/2/2020 | 9,665,000 | |
800,000 | New York State HFA (29 Flatbush Associates, LLC), (Series 2010A: 29 Flatbush Avenue) Weekly VRDNs, (Landesbank Hessen- Thuringen LOC), 0.130%, 11/4/2020 | 800,000 | |
1,800,000 | New York State HFA (29 Flatbush Associates, LLC), (Series A) Weekly VRDNs, (Landesbank Hessen-Thuringen LOC), 0.130%, 11/4/2020 | 1,800,000 | |
1,350,000 | New York State HFA (326 Riverdale Owners LLC), (Series 2008A: 330 Riverdale Avenue Apartments) Weekly VRDNs, (Bank of America N.A. LOC), 0.130%, 11/4/2020 | 1,350,000 | |
5,985,000 | New York State HFA (600 West 42nd Street), (2009 Series A) Weekly VRDNs, (FNMA LOC), 0.120%, 11/4/2020 | 5,985,000 | |
7,320,000 | New York State HFA (8 East 102nd Street Housing), (Series 2010A) Weekly VRDNs, (TD Bank, N.A. LOC), 0.110%, 11/4/2020 | 7,320,000 | |
6,990,000 | New York State HFA, (2010 Series A) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/4/2020 | 6,990,000 | |
1,175,000 | New York State HFA, Service Contract Revenue Refunding Bonds (Series 2003L) Weekly VRDNs, (Bank of America N.A. LOC), 0.110%, 11/4/2020 | 1,175,000 | |
585,000 | New York State HFA, Service Contract Revenue Refunding Bonds (Series 2003M-1) Weekly VRDNs, (Bank of America N.A. LOC), 0.110%, 11/4/2020 | 585,000 | |
2,950,000 | New York State HFA, Tender Option Bond Trust Certificates (Series 2019-ZF2800) Weekly VRDNs, (Barclays Bank PLC LIQ), 0.160%, 11/5/2020 | 2,950,000 | |
3,100,000 | New York State Power Authority, (Series 2), CP, (JPMorgan Chase Bank, N.A. LIQ)/(State Street Bank and Trust Co. LIQ)/(TD Bank, N.A. LIQ)/(Wells Fargo Bank, N.A. LIQ), 0.280%, Mandatory Tender 12/2/2020 | 3,100,000 | |
2,250,000 | New York State Power Authority, Tender Option Bond Trust Receipts (Series 2020-XF0945) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 2,250,000 | |
2,250,000 | New York State Power Authority, Tender Option Bond Trust Receipts (Series 2020-XF0946) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 2,250,000 | |
3,000,000 | New York State Power Authority, Tender Option Bond Trust Receipts (Series 2020-XF0947) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.160%, 11/5/2020 | 3,000,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 5,500,000 | New York State Power Authority, Tender Option Bond Trust Receipts (Series 2020-XF0956) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.150%, 11/5/2020 | $5,500,000 | |
5,000,000 | New York State Power Authority, Tender Option Bond Trust Receipts (Series 2020-ZF0949) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.160%, 11/5/2020 | 5,000,000 | |
5,500,000 | New York State Urban Development Corp. (New York State Personal Income Tax Revenue Bond Fund), Clipper Tax-Exempt Certificates Trust (Series 2009-35) Weekly VRDNs, (State Street Bank and Trust Co. LIQ)/ (State Street Bank and Trust Co. LOC), 0.150%, 11/5/2020 | 5,500,000 | |
7,500,000 | New York State Urban Development Corp. (New York State Personal Income Tax Revenue Bond Fund), Tender Option Bond Trust Receipts (Series 2018-XM0636) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 7,500,000 | |
14,500,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 1) Weekly VRDPs, (Citibank N.A., New York LIQ), 0.170%, 11/5/2020 | 14,500,000 | |
10,000,000 | Nuveen New York AMT-Free Quality Municipal Income Fund, (Series 5) Weekly VRDPs, (TD Bank, N.A. LIQ), 0.180%, 11/5/2020 | 10,000,000 | |
4,640,000 | Onondaga County, NY IDA (Syracuse Research Corp.), (Series 2007) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/5/2020 | 4,640,000 | |
7,720,000 | Ontario County, NY Industrial Development Agency (Friends of the Finger Lakes Performing Arts Center, Inc.), (Series 2005A) Monthly VRDNs, (Citizens Bank, N.A., Providence LOC), 0.520%, 11/2/2020 | 7,720,000 | |
1,500,000 | Orange County, NY IDA (Tuxedo Park School), (Series 2002) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/5/2020 | 1,500,000 | |
2,000,000 | Philipstown, NY BANs, 1.500%, 1/22/2021 | 2,001,105 | |
1,100,000 | Port Authority of New York and New Jersey, Tender Option Bond Trust Certificates (2015-ZM0099) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.200%, 11/5/2020 | 1,100,000 | |
1,535,000 | Rensselaer County, NY IDA (WMHT Educational Telecommunications), Civic Facility Revenue Bonds (Series 2003A) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/5/2020 | 1,535,000 | |
1,772,764 | Rhinebeck, NY BANs, 1.500%, 1/29/2021 | 1,773,910 | |
8,000,000 | Salina, NY BANs, 1.250%, 6/11/2021 | 8,031,433 | |
4,000,000 | Schoharie County, NY BANs, 1.500%, 6/18/2021 | 4,023,691 | |
2,484,400 | Sidney, NY CSD BANs, 1.250%, 8/6/2021 | 2,496,624 | |
610,000 | Suffolk County, NY IDA (Guide Dog Foundation Inc.) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.160%, 11/5/2020 | 610,000 | |
2,500,000 | Sweet Home, NY CSD BANs, 1.250%, 7/8/2021 | 2,510,671 | |
3,633,370 | Tarrytown, NY, (Series A) BANs, 1.500%, 11/19/2020 | 3,634,428 | |
4,470,000 | Utica, NY Industrial Development Agency Civic Facility (Munson-Williams- Proctor Arts Institute), (Series 2006) Weekly VRDNs, (Citizens Bank, N.A., Providence LOC), 0.200%, 11/5/2020 | 4,470,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
New York— continued | |||
$ 1,972,500 | Watertown, NY (City of) BANs, 1.750%, 5/19/2021 | $1,977,909 | |
TOTAL INVESTMENT IN SECURITIES—100.5% (AT AMORTIZED COST)2 | 436,003,874 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.5)%3 | (2,111,846) | ||
TOTAL NET ASSETS—100% | $433,892,028 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
BANs | —Bond Anticipation Notes | |
CP | —Commercial Paper | |
CSD | —Central School District | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
FNMA | —Federal National Mortgage Association | |
HFA | —Housing Finance Authority | |
IDA | —Industrial Development Authority | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
TOBs | —Tender Option Bonds | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds | |
VRENs | —Variable Rate Extendible Notes |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.006 | 0.013 | 0.011 | 0.006 | 0.002 |
Net realized gain (loss) | 0.0001 | 0.0001 | — | 0.0001 | — |
TOTAL FROM INVESTMENT OPERATIONS | 0.006 | 0.013 | 0.011 | 0.006 | 0.002 |
Less Distributions: | |||||
Distributions from net investment income | (0.006) | (0.013) | (0.011) | (0.006) | (0.002) |
Distributions from net realized gain | (0.000)1 | — | (0.000)1 | — | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.006) | (0.013) | (0.011) | (0.006) | (0.002) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.58% | 1.33% | 1.08% | 0.56% | 0.16% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.32% | 0.32% | 0.32% | 0.32% | 0.22%4 |
Net investment income | 0.64% | 1.31% | 1.10% | 0.58% | 0.10% |
Expense waiver/reimbursement5 | 0.19% | 0.17% | 0.25% | 0.34% | 0.40% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $179,225 | $326,684 | $211,511 | $111,061 | $70,496 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.22% after taking into account these expense reductions. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in securities, at amortized cost and fair value | $436,003,874 |
Cash | 147,929 |
Income receivable | 605,576 |
Receivable for shares sold | 13,708 |
Total Assets | 436,771,087 |
Liabilities: | |
Payable for investments purchased | 2,747,826 |
Payable for shares redeemed | 14,787 |
Income distribution payable | 187 |
Payable for investment adviser fee (Note 5) | 12,335 |
Payable for administrative fee (Note 5) | 1,847 |
Accrued expenses (Note 5) | 102,077 |
Total Liabilities | 2,879,059 |
Net assets for 433,879,119 shares outstanding | $433,892,028 |
Net Assets Consist of: | |
Paid-in capital | $433,879,119 |
Total distributable earnings (loss) | 12,909 |
Total Net Assets | $433,892,028 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Wealth Shares: | |
$179,225,159 ÷ 179,219,827 outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$221,000,016 ÷ 220,993,440 outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$7,515,483 ÷ 7,515,260 outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$26,151,370 ÷ 26,150,592 outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $4,980,222 |
Dividends | 8,548 |
TOTAL INCOME | 4,988,770 |
Expenses: | |
Investment adviser fee (Note 5) | 1,616,475 |
Administrative fee (Note 5) | 422,248 |
Custodian fees | 19,899 |
Transfer agent fees | 335,537 |
Directors’/Trustees’ fees (Note 5) | 3,142 |
Auditing fees | 22,100 |
Legal fees | 11,919 |
Portfolio accounting fees | 156,130 |
Distribution services fee (Note 5) | 765,638 |
Other service fees (Notes 2 and 5) | 672,975 |
Share registration costs | 116,664 |
Printing and postage | 23,042 |
Miscellaneous (Note 5) | 9,170 |
TOTAL EXPENSES | 4,174,939 |
Waivers and Reimbursement: | |
Waiver of investment adviser fee (Note 5) | (1,019,172) |
Waivers/reimbursement of other operating expenses (Notes 2 and 5) | (968,567) |
TOTAL WAIVERS AND REIMBURSEMENT | (1,987,739) |
Net expenses | 2,187,200 |
Net investment income | 2,801,570 |
Net realized gain on investments | 11 |
Change in net assets resulting from operations | $2,801,581 |
Year Ended October 31 | 2020 | 2019 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $2,801,570 | $5,990,875 |
Net realized gain (loss) | 11 | 40,695 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 2,801,581 | 6,031,570 |
Distributions to Shareholders: | ||
Wealth Shares | (1,748,534) | (3,653,828) |
Service Shares | (989,900) | (2,023,356) |
Cash II Shares | (39,609) | (91,932) |
Cash Series Shares | (56,641) | (219,584) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (2,834,684) | (5,988,700) |
Share Transactions: | ||
Proceeds from sale of shares | 728,478,378 | 998,159,264 |
Net asset value of shares issued to shareholders in payment of distributions declared | 2,631,762 | 5,636,656 |
Cost of shares redeemed | (878,935,813) | (707,209,918) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (147,825,673) | 296,586,002 |
Change in net assets | (147,858,776) | 296,628,872 |
Net Assets: | ||
Beginning of period | 581,750,804 | 285,121,932 |
End of period | $433,892,028 | $581,750,804 |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $580,436 | $(125,976) | $(188,323) |
Cash II Shares | 26,550 | (206) | (11,249) |
Cash Series Shares | 65,989 | (656) | (35,463) |
TOTAL | $672,975 | $(126,838) | $(235,035) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | 312,197,082 | $312,197,082 | 506,187,750 | $506,187,750 |
Shares issued to shareholders in payment of distributions declared | 1,568,473 | 1,568,473 | 3,407,502 | 3,407,502 |
Shares redeemed | (461,203,973) | (461,203,973) | (394,445,382) | (394,445,382) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | (147,438,418) | $(147,438,418) | 115,149,870 | $115,149,870 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 337,808,998 | $337,808,998 | 443,173,878 | $443,173,878 |
Shares issued to shareholders in payment of distributions declared | 968,768 | 968,768 | 1,922,304 | 1,922,304 |
Shares redeemed | (337,431,788) | (337,431,788) | (254,110,633) | (254,110,633) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 1,345,978 | $1,345,978 | 190,985,549 | $190,985,549 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 12,357,244 | $12,357,244 | 12,141,971 | $12,141,971 |
Shares issued to shareholders in payment of distributions declared | 39,403 | 39,403 | 90,573 | 90,573 |
Shares redeemed | (14,832,345) | (14,832,345) | (11,816,363) | (11,816,363) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | (2,435,698) | $(2,435,698) | 416,181 | $416,181 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 66,115,054 | $66,115,054 | 36,655,665 | $36,655,665 |
Shares issued to shareholders in payment of distributions declared | 55,118 | 55,118 | 216,277 | 216,277 |
Shares redeemed | (65,467,707) | (65,467,707) | (46,837,540) | (46,837,540) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 702,465 | $702,465 | (9,965,598) | $(9,965,598) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (147,825,673) | $(147,825,673) | 296,586,002 | $296,586,002 |
2020 | 2019 | |
Tax-exempt income | $2,793,986 | $5,988,700 |
Ordinary income1 | $40,698 | $— |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed tax-exempt income2 | $12,901 |
Undistributed ordinary income | $8 |
2 | For tax purposes, short-term capital gains are considered ordinary income in determining distributable earnings. |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Percentage of Average Daily Net Assets of Class | |
Service Shares | 0.25% |
Cash II Shares | 0.25% |
Cash Series Shares | 0.60% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Service Shares | $580,713 | $(510,601) |
Cash II Shares | 26,550 | (10,793) |
Cash Series Shares | 158,375 | (85,300) |
TOTAL | $765,638 | $(606,694) |
![](https://capedge.com/proxy/N-CSR/0001623632-20-002126/ernstyoungsig.jpg)
December 23, 2020
Beginning Account Value 5/1/2020 | Ending Account Value 10/31/2020 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,000.40 | $1.56 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,023.58 | $1.58 |
1 | Expenses are equal to the Fund annualized net expense ratio of 0.31%, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). |
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: April 1989 | 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) |
Thomas R. Donahue* Birth Date: October 20, 1958 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Director or Trustee of certain of the funds in the Federated Hermes Fund Family; Chief Financial Officer, Treasurer, Vice President and Assistant Secretary, Federated Hermes, Inc.; Chairman and Trustee, Federated Administrative Services; Chairman and Director, Federated Administrative Services, Inc.; Trustee and Treasurer, Federated Advisory Services Company; Director or Trustee and Treasurer, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, and Federated Investment Management Company; Director, MDTA LLC; Director, Executive Vice President and Assistant Secretary, Federated Securities Corp.; Director or Trustee and Chairman, Federated Services Company and Federated Shareholder Services Company; and Director and President, FII Holdings, Inc. Previous Positions: Director, Federated Hermes, Inc.; Assistant Secretary, Federated Investment Management Company, Federated Global Investment Management Company and Passport Research, LTD; Treasurer, Passport Research, LTD; Executive Vice President, Federated Securities Corp.; and Treasurer, FII Holdings, 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 |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: September 2013 | Principal Occupations: Director or Trustee 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, and Chairman of the Compensation Committee, 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 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; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; 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; and Director and Chair, North Catholic High School, 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 |
Charles F. Mansfield, Jr. Birth Date: April 10, 1945 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant and Author. Other Directorships Held: None. Qualifications: Mr. Mansfield has served as a Marine Corps officer and in several banking, business management, educational roles and directorship positions throughout his long career. He remains active as a Management Consultant and Author. |
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. Ms. Reilly also previously served as Chair of the Risk Management Committee for Holy Ghost Preparatory School, Philadelphia and Secretary and Chair of the Governance Committee, Oakland Catholic High School Board of Trustees, Pittsburgh. |
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 |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: September 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.); and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, 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 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. |
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. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Deborah A. Cunningham was named Chief Investment Officer of Federated Hermes’ money market products in 2004. She joined Federated Hermes in 1981 and has been a Senior Portfolio Manager since 1997 and an Executive Vice President of the Fund’s Adviser since 2009. Ms. Cunningham has received the Chartered Financial Analyst designation and holds an M.S.B.A. in Finance from Robert Morris College. |
Mary Jo Ochson Birth Date: September 12, 1953 CHIEF INVESTMENT OFFICER Officer since: May 2004 | Principal Occupations: Mary Jo Ochson was named Chief Investment Officer of Federated Hermes’ tax-exempt, fixed-income products in 2004 and Chief Investment Officer of Federated Hermes’ Tax-Free Money Markets in 2010. She joined Federated Hermes in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of the Fund’s Adviser since 1996. Ms. Ochson has received the Chartered Financial Analyst designation and holds an M.B.A. in Finance from the University of Pittsburgh. |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
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Share Class | Ticker | Wealth | PAMXX | Service | FPAXX | Cash Series | PACXX |
Federated Hermes Pennsylvania Municipal Cash Trust
A Portfolio of Federated Hermes Money Market Obligations Trust
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Donahue
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Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 91.0% |
Municipal Note | 8.1% |
Other Assets and Liabilities—Net2 | 0.9% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 91.0% |
8-30 Days | 0.0% |
31-90 Days | 8.1% |
91-180 Days | 0.0% |
181 Days or more | 0.0% |
Other Assets and Liabilities—Net2 | 0.9% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 99.1% | ||
Pennsylvania— 99.1% | |||
$2,300,000 | Allegheny County, PA HDA (Dialysis Clinic, Inc.), (Series 1997) Weekly VRDNs, (Fifth Third Bank, Ohio LOC), 0.180%, 11/5/2020 | $2,300,000 | |
1,500,000 | Allegheny County, PA HDA (UPMC Health System), Tender Option Bond Trust Receipts (Series 2019-XM0758) Weekly VRDNs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.280%, 11/5/2020 | 1,500,000 | |
2,200,000 | Beaver County, PA IDA (BASF Corp.), (Series 1997) Weekly VRDNs, (GTD by BASF SE), 0.260%, 11/4/2020 | 2,200,000 | |
2,000,000 | Blackrock MuniYield Pennsylvania Quality Fund, (663 Series W-7 VRDP Shares) Weekly VRDPs, (Toronto Dominion Bank LIQ), 0.210%, 11/5/2020 | 2,000,000 | |
200,000 | Butler County, PA Hospital Authority (Concordia Lutheran Obligated Group), (Series A of 2012) Weekly VRDNs, (BMO Harris Bank, N.A. LOC), 0.130%, 11/5/2020 | 200,000 | |
1,250,000 | Butler County, PA Hospital Authority (Concordia Lutheran Obligated Group), (Series A of 2012) Weekly VRDNs, (BMO Harris Bank, N.A. LOC), 0.130%, 11/5/2020 | 1,250,000 | |
2,400,000 | Chester County, PA HEFA (Tel Hai Obligated Group Project), (Series of 2009) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/5/2020 | 2,400,000 | |
1,740,000 | East Hempfield Township, PA IDA (BGT Realty), (Series of 2005) Weekly VRDNs, (Fulton Bank, N.A. LOC), 0.650%, 11/5/2020 | 1,740,000 | |
450,000 | Lancaster County, PA Hospital Authority (Masonic Villages), (Series D of 2008) Daily VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.120%, 11/2/2020 | 450,000 | |
1,425,000 | Lancaster, PA IDA (John F. Martin & Sons, Inc.), (Series A of 2007) Weekly VRDNs, (Fulton Bank, N.A. LOC), 0.550%, 11/5/2020 | 1,425,000 | |
2,000,000 | Lancaster, PA IDA (Willow Valley Retirement Communities), (Series A of 2009) Weekly VRDNs, (PNC Bank, N.A. LOC), 0.130%, 11/5/2020 | 2,000,000 | |
450,000 | Lehigh County, PA General Purpose Authority (Lehigh Valley Health Network), (Series B of 2019) Weekly VRDNs, (Bank of America N.A. LOC), 0.140%, 11/5/2020 | 450,000 | |
315,000 | Lehigh County, PA General Purpose Authority (Phoebe-DeVitt Homes Obligated Group), (Series B of 1998) Weekly VRDNs, (Citizens Bank, N.A., Providence LOC), 0.220%, 11/5/2020 | 315,000 | |
1,500,000 | Montgomery County, PA IDA (Lonza, Inc.), (Series 2000) Weekly VRDNs, (Landesbank Hessen-Thuringen LOC), 0.190%, 11/5/2020 | 1,500,000 | |
845,000 | Northampton County, PA IDA (Binney & Smith, Inc.), (Series 1997A) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.270%, 11/4/2020 | 845,000 | |
120,000 | Northampton County, PA IDA (Binney & Smith, Inc.), (Series 1997B) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LOC), 0.320%, 11/4/2020 | 120,000 | |
1,665,000 | Pennsylvania Economic Development Financing Authority (UPMC Health System), Tender Option Bond Trust Receipts (2015-ZM0088) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.270%, 11/5/2020 | 1,665,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Pennsylvania— continued | |||
$1,990,000 | Pennsylvania HFA (Foxwood Manor Apartments), (Series 2008-O) Weekly VRDNs, (FHLMC LOC), 0.120%, 11/5/2020 | $1,990,000 | |
2,000,000 | Pennsylvania HFA, (Series 2006-93B) Weekly VRDNs, (Wells Fargo Bank, N.A. LIQ), 0.150%, 11/4/2020 | 2,000,000 | |
3,500,000 | Pennsylvania State Turnpike Commission, RBC Muni Products (Series G-43) TOBs, (Royal Bank of Canada LIQ)/(Royal Bank of Canada LOC), 0.320%, Optional Tender 12/1/2020 | 3,500,000 | |
1,000,000 | Pennsylvania State University, Tender Option Bond Trust Receipts (Series 2020-XM0827) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.160%, 11/5/2020 | 1,000,000 | |
2,000,000 | Philadelphia, PA Airport System, Tender Option Bond Trust Receipts (Series 2017-XG0159) Weekly VRDNs, (Bank of America N.A. LIQ)/(Bank of America N.A. LOC), 0.220%, 11/5/2020 | 2,000,000 | |
800,000 | Philadelphia, PA Hospitals & Higher Education Facilities Authority (Children’s Hospital of Philadelphia), (Series 2002-A) Daily VRDNs, (Wells Fargo Bank, N.A. LIQ), 0.110%, 11/2/2020 | 800,000 | |
150,000 | Philadelphia, PA Hospitals & Higher Education Facilities Authority (Children’s Hospital of Philadelphia), (Series 2002-B) Daily VRDNs, (Wells Fargo Bank, N.A. LIQ), 0.110%, 11/2/2020 | 150,000 | |
205,000 | Philadelphia, PA Hospitals & Higher Education Facilities Authority (Children’s Hospital of Philadelphia), (Series 2005A) Daily VRDNs, (Wells Fargo Bank, N.A. LIQ), 0.110%, 11/2/2020 | 205,000 | |
2,165,000 | Philadelphia, PA School District, Tender Option Bond Trust Receipts (Series 2020-XF0881) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Toronto Dominion Bank LIQ), 0.170%, 11/5/2020 | 2,165,000 | |
1,600,000 | Philadelphia, PA, (Series 2009B) Weekly VRDNs, (Barclays Bank PLC LOC), 0.100%, 11/5/2020 | 1,600,000 | |
1,650,000 | Southcentral PA, General Authority (Wellspan Health Obligated Group), (Series 2019C) Weekly VRDNs, (Bank of America N.A. LIQ), 0.160%, 11/5/2020 | 1,650,000 | |
500,000 | Southcentral PA, General Authority (Wellspan Health Obligated Group), (Series 2019E) Daily VRDNs, (U.S. Bank, N.A. LIQ), 0.110%, 11/2/2020 | 500,000 | |
3,000,000 | State Public School Building Authority, PA (Philadelphia, PA School District), Tender Option Bond Trust Certificates (2016-XG0085) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Credit Suisse AG LIQ), 0.240%, 11/5/2020 | 3,000,000 | |
TOTAL INVESTMENT IN SECURITIES—99.1% (AT AMORTIZED COST)2 | 42,920,000 | ||
OTHER ASSETS AND LIABILITIES - NET—0.9%3 | 385,535 | ||
TOTAL NET ASSETS—100% | $43,305,535 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
FHLMC | —Federal Home Loan Mortgage Corporation | |
GTD | —Guaranteed | |
HDA | —Hospital Development Authority | |
HEFA | —Health and Education Facilities Authority | |
HFA | —Housing Finance Authority | |
IDA | —Industrial Development Authority | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
TOBs | —Tender Option Bonds | |
VRDNs | —Variable Rate Demand Notes | |
VRDPs | —Variable Rate Demand Preferreds |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.005 | 0.012 | 0.010 | 0.004 | 0.001 |
Net realized gain | — | — | — | 0.0001 | — |
TOTAL FROM INVESTMENT OPERATIONS | 0.005 | 0.012 | 0.010 | 0.004 | 0.001 |
Less Distributions: | |||||
Distributions from net investment income | (0.005) | (0.012) | (0.009) | (0.004) | (0.001) |
Distributions from net realized gain | — | — | (0.001) | — | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.005) | (0.012) | (0.010) | (0.004) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.48% | 1.17% | 0.99% | 0.38% | 0.13% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.39% | 0.47% | 0.47% | 0.47% | 0.31%4 |
Net investment income | 0.54% | 1.17% | 0.92% | 0.41% | 0.06% |
Expense waiver/reimbursement5 | 0.42% | 0.21% | 0.24% | 0.30% | 0.34% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $18,401 | $31,834 | $29,650 | $28,371 | $10,015 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.31% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.004 | 0.010 | 0.008 | 0.002 | 0.0001 |
Net realized gain | — | — | — | 0.0001 | — |
Total From Investment Operations | 0.004 | 0.010 | 0.008 | 0.002 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.004) | (0.010) | (0.007) | (0.002) | (0.000)1 |
Distributions from net realized gain | — | — | (0.001) | — | (0.000)1 |
Total Distributions | (0.004) | (0.010) | (0.008) | (0.002) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.39% | 0.97% | 0.78% | 0.18% | 0.09% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.46% | 0.67% | 0.67% | 0.67% | 0.31%4 |
Net investment income | 0.38% | 0.97% | 0.71% | 0.14% | 0.02% |
Expense waiver/reimbursement5 | 0.63% | 0.26% | 0.29% | 0.35% | 0.59% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $12,634 | $13,346 | $15,589 | $12,442 | $30,951 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.31% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.002 | 0.006 | 0.004 | 0.0001 | 0.0001 |
Net realized gain | — | — | — | 0.0001 | — |
Total From Investment Operations | 0.002 | 0.006 | 0.004 | 0.0001 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.002) | (0.006) | (0.003) | (0.000)1 | (0.000)1 |
Distributions from net realized gain | — | — | (0.001) | — | (0.000)1 |
Total Distributions | (0.002) | (0.006) | (0.004) | (0.000)1 | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.22% | 0.58% | 0.40% | 0.01% | 0.06% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.67% | 1.06% | 1.05% | 0.84% | 0.36%4 |
Net investment income | 0.23% | 0.59% | 0.32% | 0.01% | 0.01% |
Expense waiver/reimbursement5 | 0.81% | 0.26% | 0.31% | 0.58% | 0.94% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $12,271 | $19,120 | $37,606 | $45,288 | $51,604 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.36% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in securities, at amortized cost and fair value | $42,920,000 |
Cash | 227,429 |
Income receivable | 8,190 |
Receivable for investments sold | 213,889 |
Receivable for shares sold | 3,733 |
Total Assets | 43,373,241 |
Liabilities: | |
Payable for shares redeemed | 768 |
Payable to adviser (Note 5) | 7,217 |
Payable for administrative fee (Note 5) | 184 |
Payable for transfer agent fees | 4,436 |
Payable for legal fees | 3,632 |
Payable for portfolio accounting fees | 24,304 |
Payable for share registration costs | 7,484 |
Payable for printing and postage | 16,439 |
Accrued expenses (Note 5) | 3,242 |
Total Liabilities | 67,706 |
Net assets for 43,304,280 shares outstanding | $43,305,535 |
Net Assets Consist of: | |
Paid-in capital | $43,304,218 |
Total distributable earnings (loss) | 1,317 |
Total Net Assets | $43,305,535 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Wealth Shares: | |
$18,400,509 ÷ 18,399,976 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$12,634,468 ÷ 12,634,103 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$12,270,558 ÷ 12,270,201 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $568,110 |
Expenses: | |
Investment adviser fee (Note 5) | 188,493 |
Administrative fee (Note 5) | 49,486 |
Custodian fees | 2,683 |
Transfer agent fees (Note 2) | 28,189 |
Directors’/Trustees’ fees (Note 5) | 698 |
Auditing fees | 20,400 |
Legal fees | 9,156 |
Portfolio accounting fees | 85,524 |
Distribution services fee (Note 5) | 62,597 |
Other service fees (Notes 2 and 5) | 72,508 |
Share registration costs | 97,547 |
Printing and postage | 22,923 |
Miscellaneous (Note 5) | 9,743 |
TOTAL EXPENSES | 649,947 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (180,729) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (170,807) |
TOTAL WAIVERS AND REIMBURSEMENTS | (351,536) |
Net expenses | 298,411 |
Net investment income | 269,699 |
Change in net assets resulting from operations | $269,699 |
Year Ended October 31 | 2020 | 2019 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $269,699 | $757,675 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 269,699 | 757,675 |
Distributions to Shareholders: | ||
Wealth Shares | (182,908) | (429,859) |
Service Shares | (50,868) | (148,627) |
Cash Series Shares | (35,434) | (179,062) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (269,210) | (757,548) |
Share Transactions: | ||
Proceeds from sale of shares | 138,968,049 | 229,584,337 |
Net asset value of shares issued to shareholders in payment of distributions declared | 62,287 | 262,253 |
Cost of shares redeemed | (160,025,975) | (248,390,927) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (20,995,639) | (18,544,337) |
Change in net assets | (20,995,150) | (18,544,210) |
Net Assets: | ||
Beginning of period | 64,300,685 | 82,844,895 |
End of period | $43,305,535 | $64,300,685 |
Transfer Agent Fees Incurred | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Wealth Shares | $14,742 | $(2,601) |
Service Shares | 6,229 | (1,848) |
Cash Series Shares | 7,218 | (1,718) |
TOTAL | $28,189 | $(6,167) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $33,385 | $(6,247) | $(14,342) |
Cash Series Shares | 39,123 | (3,504) | (18,595) |
TOTAL | $72,508 | $(9,751) | $(32,937) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | 66,412,459 | $66,412,459 | 87,005,288 | $87,005,288 |
Shares issued to shareholders in payment of distributions declared | 4,541 | 4,541 | 12,801 | 12,801 |
Shares redeemed | (79,850,760) | (79,850,760) | (84,833,856) | (84,833,856) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | (13,433,760) | $(13,433,760) | 2,184,233 | $2,184,233 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 37,043,756 | $37,043,756 | 46,479,238 | $46,479,238 |
Shares issued to shareholders in payment of distributions declared | 22,506 | 22,506 | 72,200 | 72,200 |
Shares redeemed | (37,778,129) | (37,778,129) | (48,794,752) | (48,794,752) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (711,867) | $(711,867) | (2,243,314) | $(2,243,314) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 35,511,834 | $35,511,834 | 96,099,811 | $96,099,811 |
Shares issued to shareholders in payment of distributions declared | 35,240 | 35,240 | 177,252 | 177,252 |
Shares redeemed | (42,397,086) | (42,397,086) | (114,762,319) | (114,762,319) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | (6,850,012) | $(6,850,012) | (18,485,256) | $(18,485,256) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (20,995,639) | $(20,995,639) | (18,544,337) | $(18,544,337) |
2020 | 2019 | |
Tax-exempt income | $269,210 | $757,548 |
Undistributed tax-exempt income | $1,322 |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Cash Series Shares | $62,597 | $(34,558) |
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Beginning Account Value 5/1/2020 | Ending Account Value 10/31/2020 | Expenses Paid During Period1 | |
Actual: | |||
Wealth Shares | $1,000 | $1,000.00 | $21.51 |
Service Shares | $1,000 | $1,000.00 | $31.31 |
Cash Series Shares | $1,000 | $1,000.00 | $41.16 |
Hypothetical (assuming a 5% return before expenses): | |||
Wealth Shares | $1,000 | $1,023.63 | $21.53 |
Service Shares | $1,000 | $1,023.83 | $31.32 |
Cash Series Shares | $1,000 | $1,023.98 | $41.17 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Wealth Shares | 0.30% |
Service Shares | 0.26% |
Cash Series Shares | 0.23% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s current Fee Limit of 0.47% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.36 and $2.39, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.67% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $3.37 and $3.41, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash Series Shares current Fee Limit of 1.06% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $5.33 and $5.39, respectively. |
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: April 1989 | 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) |
Thomas R. Donahue* Birth Date: October 20, 1958 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Director or Trustee of certain of the funds in the Federated Hermes Fund Family; Chief Financial Officer, Treasurer, Vice President and Assistant Secretary, Federated Hermes, Inc.; Chairman and Trustee, Federated Administrative Services; Chairman and Director, Federated Administrative Services, Inc.; Trustee and Treasurer, Federated Advisory Services Company; Director or Trustee and Treasurer, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, and Federated Investment Management Company; Director, MDTA LLC; Director, Executive Vice President and Assistant Secretary, Federated Securities Corp.; Director or Trustee and Chairman, Federated Services Company and Federated Shareholder Services Company; and Director and President, FII Holdings, Inc. Previous Positions: Director, Federated Hermes, Inc.; Assistant Secretary, Federated Investment Management Company, Federated Global Investment Management Company and Passport Research, LTD; Treasurer, Passport Research, LTD; Executive Vice President, Federated Securities Corp.; and Treasurer, FII Holdings, 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 |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: September 2013 | Principal Occupations: Director or Trustee 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, and Chairman of the Compensation Committee, 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 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; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; 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; and Director and Chair, North Catholic High School, 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 |
Charles F. Mansfield, Jr. Birth Date: April 10, 1945 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant and Author. Other Directorships Held: None. Qualifications: Mr. Mansfield has served as a Marine Corps officer and in several banking, business management, educational roles and directorship positions throughout his long career. He remains active as a Management Consultant and Author. |
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. Ms. Reilly also previously served as Chair of the Risk Management Committee for Holy Ghost Preparatory School, Philadelphia and Secretary and Chair of the Governance Committee, Oakland Catholic High School Board of Trustees, Pittsburgh. |
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 |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: September 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.); and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, 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 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. |
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. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Deborah A. Cunningham was named Chief Investment Officer of Federated Hermes’ money market products in 2004. She joined Federated Hermes in 1981 and has been a Senior Portfolio Manager since 1997 and an Executive Vice President of the Fund’s Adviser since 2009. Ms. Cunningham has received the Chartered Financial Analyst designation and holds an M.S.B.A. in Finance from Robert Morris College. |
Mary Jo Ochson Birth Date: September 12, 1953 CHIEF INVESTMENT OFFICER Officer since: May 2004 | Principal Occupations: Mary Jo Ochson was named Chief Investment Officer of Federated Hermes’ tax-exempt, fixed-income products in 2004 and Chief Investment Officer of Federated Hermes’ Tax-Free Money Markets in 2010. She joined Federated Hermes in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of the Fund’s Adviser since 1996. Ms. Ochson has received the Chartered Financial Analyst designation and holds an M.B.A. in Finance from the University of Pittsburgh. |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N542
CUSIP 60934N526
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Share Class | Ticker | Service | VACXX | Cash Series | VCSXX |
Federated Hermes Virginia Municipal Cash Trust
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSR/0001623632-20-002126/donahuechrisphoto.jpg)
Donahue
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Security Type | Percentage of Total Net Assets |
Variable Rate Demand Instruments | 91.5% |
Commercial Paper | 6.0% |
Municipal Note | 2.2% |
Other Assets and Liabilities—Net2 | 0.3% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 91.5% |
8-30 Days | 4.8% |
31-90 Days | 1.2% |
91-180 Days | 2.2% |
181 Days or more | 0.0% |
Other Assets and Liabilities—Net2 | 0.3% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— 99.7% | ||
Virginia— 99.7% | |||
$ 1,200,000 | Albemarle County, VA Economic Development Authority (Sentara Health Systems Obligation Group), (Series 2018B) Daily VRDNs, (TD Bank, N.A. LIQ), 0.110%, 11/2/2020 | $1,200,000 | |
4,775,000 | Alexandria, VA, Solar Eclipse (2017-0044) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.170%, 11/5/2020 | 4,775,000 | |
8,400,000 | Arlington County, VA IDA (Gates of Ballston Apartments), (Series 2005) Weekly VRDNs, (PNC Bank, N.A. LOC), 0.170%, 11/4/2020 | 8,400,000 | |
17,150,000 | Arlington County, VA IDA (Westover Apartments, LP), (Series 2011A) Weekly VRDNs, (FHLMC LOC), 0.160%, 11/5/2020 | 17,150,000 | |
8,000,000 | Botetourt County, VA IDA (Altec Industries, Inc.), (Series 2001) Weekly VRDNs, (Bank of America N.A. LOC), 0.260%, 11/5/2020 | 8,000,000 | |
2,060,000 | Emporia, VA Industrial Development Board (Toll VA III LP), (Series 1999) Weekly VRDNs, (Truist Bank LOC), 0.200%, 11/5/2020 | 2,060,000 | |
8,510,000 | Fairfax County, VA EDA (Mount Vernon Ladies’ Association of the Union), (Series 2007) Weekly VRDNs, (Truist Bank LOC), 0.140%, 11/4/2020 | 8,510,000 | |
3,220,000 | Fairfax County, VA EDA (Young Men’s Christian Association of Metropolitan Washington), (Series 2001) Weekly VRDNs, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.180%, 11/6/2020 | 3,220,000 | |
8,790,000 | Fairfax County, VA IDA (Inova Health System), (Series 2018C) Weekly VRDNs, 0.150%, 11/5/2020 | 8,790,000 | |
5,390,000 | Hampton Roads, VA Sanitation District, (Series 2016B) Weekly VRDNs, 0.120%, 11/5/2020 | 5,390,000 | |
5,535,000 | Hampton Roads, VA Transportation Accountability Commission, (Series 2018-ZF2619) Weekly VRDNs, (Wells Fargo Bank, N.A. LIQ), 0.150%, 11/5/2020 | 5,535,000 | |
3,615,000 | Hampton Roads, VA Transportation Accountability Commission, (Series 2018-ZM0629) Weekly VRDNs, (Morgan Stanley Bank, N.A. LIQ), 0.150%, 11/5/2020 | 3,615,000 | |
1,500,000 | Loudoun County, VA IDA (Howard Hughes Medical Institute), (Series 2003C) Weekly VRDNs, 0.150%, 11/4/2020 | 1,500,000 | |
1,930,000 | Loudoun County, VA IDA (Howard Hughes Medical Institute), (Series 2003D) Weekly VRDNs, 0.150%, 11/4/2020 | 1,930,000 | |
1,500,000 | Loudoun County, VA IDA (Howard Hughes Medical Institute), (Series 2003E) Weekly VRDNs, 0.120%, 11/4/2020 | 1,500,000 | |
2,325,000 | Loudoun County, VA IDA (Howard Hughes Medical Institute), (Series 2003F) Weekly VRDNs, 0.120%, 11/4/2020 | 2,325,000 | |
1,000,000 | Loudoun County, VA IDA (Howard Hughes Medical Institute), (Series 2013A) Weekly VRDNs, 0.120%, 11/4/2020 | 1,000,000 | |
5,200,000 | Loudoun County, VA, Solar Eclipse (Series 2017-0038) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.170%, 11/5/2020 | 5,200,000 | |
400,000 | Lynchburg, VA Economic Development Authority (Centra Health Obligated Group), (Series 2017B) Daily VRDNs, (Truist Bank LOC), 0.110%, 11/2/2020 | 400,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Virginia— continued | |||
$ 5,575,000 | Lynchburg, VA Economic Development Authority (Centra Health Obligated Group), (Series 2017C) Weekly VRDNs, (Truist Bank LOC), 0.180%, 11/5/2020 | $5,575,000 | |
2,520,000 | Lynchburg, VA Economic Development Authority (Centra Health Obligated Group), Series 2017-XG0147 Weekly VRDNs, (Barclays Bank PLC LIQ)/(Barclays Bank PLC LOC), 0.160%, 11/5/2020 | 2,520,000 | |
6,210,000 | Metropolitan Washington, DC Airports Authority (Dulles Metrorail and Capital Improvement Project), Tender Option Bond Trust Certificates (Series 2019-ZM0795) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.200%, 11/5/2020 | 6,210,000 | |
2,535,000 | Metropolitan Washington, DC Airports Authority (Dulles Metrorail and Capital Improvement Project), Tender Option Bond Trust Certificates (Series 2019-ZM0796) Weekly VRDNs, (Assured Guaranty Municipal Corp. INS)/(Morgan Stanley Bank, N.A. LIQ), 0.200%, 11/5/2020 | 2,535,000 | |
100,000 | Norfolk, VA, (Series 2007) Weekly VRDNs, (Bank of America N.A. LIQ), 0.140%, 11/4/2020 | 100,000 | |
5,330,000 | Roanoke, VA EDA (Carilion Health System Obligated Group), Tender Option Bond Trust Receipts (Series 2020-XF0955) Weekly VRDNs, (Toronto Dominion Bank LIQ), 0.170%, 11/5/2020 | 5,330,000 | |
3,185,000 | Salem, VA IDA (Oak Park Apartments, L.P.), (Series 2008) Weekly VRDNs, (FNMA LOC), 0.100%, 11/5/2020 | 3,185,000 | |
8,000,000 | Stafford County, VA and Staunton, VA IDA, Series 2008 A-1, CP, (Bank of America N.A. LOC), 0.180%, Mandatory Tender 11/20/2020 | 8,000,000 | |
7,775,000 | Suffolk, VA EDA (Sentara Health Systems Obligation Group), Tender Option Bond Trust Floater Certificates (2020-MIZ9025) Weekly VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.220%, 11/5/2020 | 7,775,000 | |
4,600,000 | Suffolk, VA, Solar Eclipse Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.150%, 11/5/2020 | 4,600,000 | |
2,000,000 | University of Virginia (The Rectors and Visitors of), Solar Eclipse (Series 2017-0017) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.170%, 11/5/2020 | 2,000,000 | |
8,120,000 | Virginia College Building Authority (University of Richmond), (Series 2004) Weekly VRDNs, (U.S. Bank, N.A. LIQ), 0.110%, 11/4/2020 | 8,120,000 | |
2,077,000 | Virginia Commonwealth University, (Series A), CP, 0.120%, Mandatory Tender 12/2/2020 | 2,077,000 | |
2,555,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-XF0926) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.270%, 11/5/2020 | 2,555,000 | |
2,055,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-ZF0916) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.270%, 11/5/2020 | 2,055,000 | |
4,500,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-ZF0927) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.270%, 11/5/2020 | 4,500,000 | |
3,145,000 | Virginia Small Business Financing Authority (Bon Secours Mercy Health), Tender Option Bond Trust Receipts (Series 2020-ZF0928) Weekly VRDNs, (JPMorgan Chase Bank, N.A. LIQ), 0.270%, 11/5/2020 | 3,145,000 |
Principal Amount | Value | ||
1 | SHORT-TERM MUNICIPALS— continued | ||
Virginia— continued | |||
$ 1,575,000 | Virginia Small Business Financing Authority (Carilion Health System Obligated Group), (Series 2008A) Weekly VRDNs, (PNC Bank, N.A. LOC), 0.120%, 11/5/2020 | $1,575,000 | |
1,345,000 | Virginia Small Business Financing Authority (Carilion Health System Obligated Group), (Series 2008B) Weekly VRDNs, (Wells Fargo Bank, N.A. LOC), 0.120%, 11/5/2020 | 1,345,000 | |
200,000 | Virginia Small Business Financing Authority (Virginia State University Real Estate Foundation), (Series 2008) Daily VRDNs, (Bank of America N.A. LOC), 0.150%, 11/2/2020 | 200,000 | |
3,640,000 | Virginia State Public Building Authority Public Facilities (Virginia State), RBC Muni Products (Series G-40) TOBs, (Royal Bank of Canada LIQ)/ (Royal Bank of Canada LOC), 0.320%, Optional Tender 2/1/2021 | 3,640,000 | |
TOTAL INVESTMENT IN SECURITIES—99.7% (AT AMORTIZED COST)2 | 167,542,000 | ||
OTHER ASSETS AND LIABILITIES - NET—0.3%3 | 529,393 | ||
TOTAL NET ASSETS—100% | $168,071,393 |
1 | Current rate and current maturity or next reset date shown for floating rate notes and variable rate notes/demand instruments. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
2 | Also represents cost for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
CP | —Commercial Paper | |
EDA | —Economic Development Authority | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
FNMA | —Federal National Mortgage Association | |
GTD | —Guaranteed | |
IDA | —Industrial Development Authority | |
INS | —Insured | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
TOBs | —Tender Option Bonds | |
VRDNs | —Variable Rate Demand Notes |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.004 | 0.010 | 0.007 | 0.002 | 0.0001 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | 0.001 | 0.0001 |
Total From Investment Operations | 0.004 | 0.010 | 0.007 | 0.003 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.004) | (0.010) | (0.007) | (0.002) | (0.000)1 |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.001) | (0.000)1 |
Total Distributions | (0.004) | (0.010) | (0.007) | (0.003) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.41% | 0.98% | 0.75% | 0.25% | 0.06% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.43% | 0.66% | 0.66% | 0.66% | 0.33%4 |
Net investment income | 0.40% | 0.95% | 0.73% | 0.17% | 0.03% |
Expense waiver/reimbursement5 | 0.43% | 0.17% | 0.23% | 0.29% | 0.57% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $124,729 | $147,979 | $110,541 | $108,573 | $118,843 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.33% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended October 31, | |||||
2020 | 2019 | 2018 | 2017 | 2016 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.002 | 0.006 | 0.004 | 0.0001 | 0.0001 |
Net realized gain | 0.0001 | 0.0001 | 0.0001 | 0.001 | 0.0001 |
Total From Investment Operations | 0.002 | 0.006 | 0.004 | 0.001 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.002) | (0.006) | (0.004) | (0.000)1 | (0.000)1 |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.001) | (0.000)1 |
Total Distributions | (0.002) | (0.006) | (0.004) | (0.001) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.24% | 0.58% | 0.36% | 0.09% | 0.03% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.58% | 1.05% | 1.05% | 0.81% | 0.35%4 |
Net investment income | 0.22% | 0.58% | 0.33% | 0.01% | 0.01% |
Expense waiver/reimbursement5 | 0.88% | 0.39% | 0.45% | 0.73% | 1.15% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $43,342 | $44,511 | $61,479 | $87,565 | $96,705 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | The net expense ratio is calculated without reduction for expense offset arrangements. The net expense ratio for the year ended October 31, 2016, was 0.35% after taking into account this expense reduction. |
5 | This expense decrease is reflected in both the net expense and the net investment income (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in securities, at amortized cost and fair value | $167,542,000 |
Cash | 13,517 |
Income receivable | 47,961 |
Receivable for investments sold | 558,889 |
Receivable for shares sold | 91,817 |
Total Assets | 168,254,184 |
Liabilities: | |
Payable for shares redeemed | 128,883 |
Payable to adviser (Note 5) | 12,713 |
Payable for administrative fee (Note 5) | 716 |
Payable for portfolio accounting fees | 19,456 |
Payable for printing and postage | 15,213 |
Accrued expenses (Note 5) | 5,810 |
Total Liabilities | 182,791 |
Net assets for 168,062,862 shares outstanding | $168,071,393 |
Net Assets Consist of: | |
Paid-in capital | $168,062,428 |
Total distributable earnings (loss) | 8,965 |
Total Net Assets | $168,071,393 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Service Shares: | |
$124,729,303 ÷ 124,722,973 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$43,342,090 ÷ 43,339,889 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $1,485,910 |
Expenses: | |
Investment adviser fee (Note 5) | 547,158 |
Administrative fee (Note 5) | 142,958 |
Custodian fees | 6,891 |
Transfer agent fees (Note 2) | 182,475 |
Directors’/Trustees’ fees (Note 5) | 1,275 |
Auditing fees | 20,400 |
Legal fees | 10,553 |
Portfolio accounting fees | 82,719 |
Distribution services fee (Note 5) | 270,491 |
Other service fees (Notes 2 and 5) | 455,965 |
Share registration costs | 83,058 |
Printing and postage | 25,309 |
Miscellaneous (Note 5) | 6,498 |
TOTAL EXPENSES | 1,835,750 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (352,622) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (637,566) |
TOTAL WAIVERS AND REIMBURSEMENTS | (990,188) |
Net expenses | 845,562 |
Net investment income | 640,348 |
Net realized gain on investments | 7,125 |
Change in net assets resulting from operations | $647,473 |
Year Ended October 31 | 2020 | 2019 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $640,348 | $1,527,879 |
Net realized gain (loss) | 7,125 | 25,777 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 647,473 | 1,553,656 |
Distributions to Shareholders: | ||
Service Shares | (562,074) | (1,216,885) |
Cash Series Shares | (103,419) | (318,077) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (665,493) | (1,534,962) |
Share Transactions: | ||
Proceeds from sale of shares | 329,673,489 | 402,531,412 |
Net asset value of shares issued to shareholders in payment of distributions declared | 664,738 | 1,533,483 |
Cost of shares redeemed | (354,739,252) | (383,613,092) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (24,401,025) | 20,451,803 |
Change in net assets | (24,419,045) | 20,470,497 |
Net Assets: | ||
Beginning of period | 192,490,438 | 172,019,941 |
End of period | $168,071,393 | $192,490,438 |
Transfer Agent Fees Incurred | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Service Shares | $137,828 | $(46,360) |
Cash Series Shares | 44,647 | (16,356) |
TOTAL | $182,475 | $(62,716) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $343,261 | $(72,508) | $(171,724) |
Cash Series Shares | 112,704 | (3,738) | (67,416) |
TOTAL | $455,965 | $(76,246) | $(239,140) |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 241,007,656 | $241,007,656 | 286,850,366 | $286,850,366 |
Shares issued to shareholders in payment of distributions declared | 561,790 | 561,790 | 1,215,802 | 1,215,802 |
Shares redeemed | (264,805,546) | (264,805,546) | (250,642,841) | (250,642,841) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (23,236,100) | $(23,236,100) | 37,423,327 | $37,423,327 |
Year Ended 10/31/2020 | Year Ended 10/31/2019 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 88,665,833 | $88,665,833 | 115,681,046 | $115,681,046 |
Shares issued to shareholders in payment of distributions declared | 102,948 | 102,948 | 317,681 | 317,681 |
Shares redeemed | (89,933,706) | (89,933,706) | (132,970,251) | (132,970,251) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | (1,164,925) | $(1,164,925) | (16,971,524) | $(16,971,524) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (24,401,025) | $(24,401,025) | 20,451,803 | $20,451,803 |
2020 | 2019 | |
Tax-exempt income | $639,717 | $1,527,436 |
Long-term capital gains | $25,776 | $7,526 |
Undistributed tax-exempt income | $1,841 |
Undistributed long-term capital gains | $7,124 |
Administrative Fee | Average Daily Net Assets of the Investment Complex |
0.100% | on assets up to $50 billion |
0.075% | on assets over $50 billion |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Cash Series Shares | $270,491 | $(208,035) |
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Beginning Account Value 5/1/2020 | Ending Account Value 10/31/2020 | Expenses Paid During Period1 | |
Actual: | |||
Service Shares | $1,000 | $1,000.00 | $20.96 |
Cash Series Shares | $1,000 | $1,000.00 | $30.96 |
Hypothetical (assuming a 5% return before expenses): | |||
Service Shares | $1,000 | $1,024.18 | $20.97 |
Cash Series Shares | $1,000 | $1,024.18 | $30.97 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Service Shares | 0.19% |
Cash Series Shares | 0.19% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.66% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $3.32 and $3.36, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash Series Shares current Fee Limit of 1.05% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 184/ 366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half- year period) would be $5.28 and $5.34, respectively. |
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: April 1989 | 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) |
Thomas R. Donahue* Birth Date: October 20, 1958 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Director or Trustee of certain of the funds in the Federated Hermes Fund Family; Chief Financial Officer, Treasurer, Vice President and Assistant Secretary, Federated Hermes, Inc.; Chairman and Trustee, Federated Administrative Services; Chairman and Director, Federated Administrative Services, Inc.; Trustee and Treasurer, Federated Advisory Services Company; Director or Trustee and Treasurer, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, and Federated Investment Management Company; Director, MDTA LLC; Director, Executive Vice President and Assistant Secretary, Federated Securities Corp.; Director or Trustee and Chairman, Federated Services Company and Federated Shareholder Services Company; and Director and President, FII Holdings, Inc. Previous Positions: Director, Federated Hermes, Inc.; Assistant Secretary, Federated Investment Management Company, Federated Global Investment Management Company and Passport Research, LTD; Treasurer, Passport Research, LTD; Executive Vice President, Federated Securities Corp.; and Treasurer, FII Holdings, 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 |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: September 2013 | Principal Occupations: Director or Trustee 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, and Chairman of the Compensation Committee, 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 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; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; 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; and Director and Chair, North Catholic High School, 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 |
Charles F. Mansfield, Jr. Birth Date: April 10, 1945 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Management Consultant and Author. Other Directorships Held: None. Qualifications: Mr. Mansfield has served as a Marine Corps officer and in several banking, business management, educational roles and directorship positions throughout his long career. He remains active as a Management Consultant and Author. |
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. Ms. Reilly also previously served as Chair of the Risk Management Committee for Holy Ghost Preparatory School, Philadelphia and Secretary and Chair of the Governance Committee, Oakland Catholic High School Board of Trustees, Pittsburgh. |
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 |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: September 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). 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, CNX Resources Corporation (formerly known as CONSOL Energy Inc.); and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee, and Chair of the Board of Directors or Trustees, 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 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. |
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. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 | Principal Occupations: Deborah A. Cunningham was named Chief Investment Officer of Federated Hermes’ money market products in 2004. She joined Federated Hermes in 1981 and has been a Senior Portfolio Manager since 1997 and an Executive Vice President of the Fund’s Adviser since 2009. Ms. Cunningham has received the Chartered Financial Analyst designation and holds an M.S.B.A. in Finance from Robert Morris College. |
Mary Jo Ochson Birth Date: September 12, 1953 CHIEF INVESTMENT OFFICER Officer since: May 2004 | Principal Occupations: Mary Jo Ochson was named Chief Investment Officer of Federated Hermes’ tax-exempt, fixed-income products in 2004 and Chief Investment Officer of Federated Hermes’ Tax-Free Money Markets in 2010. She joined Federated Hermes in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of the Fund’s Adviser since 1996. Ms. Ochson has received the Chartered Financial Analyst designation and holds an M.B.A. in Finance from the University of Pittsburgh. |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 608919825
![](https://capedge.com/proxy/N-CSR/0001623632-20-002126/fscbug_small.jpg)
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: John T. Collins, 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 2020 - $441,860
Fiscal year ended 2019 - $406,660
(b) Audit-Related Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2020 - $0
Fiscal year ended 2019 - $0
Amount requiring approval of the registrant’s audit committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, $5,569 and $3,366 respectively. Fiscal year ended 2020- Audit consent for N-14 merger document. Fiscal year ended 2019- Audit consent for N-14 merger document.
(c) Tax Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2020 - $0
Fiscal year ended 2019 - $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 2020 - $0
Fiscal year ended 2019 - $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.
(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 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 and any entity controlling, controlled by to under common control with the investment 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 investment adviser and any entity controlling, controlled by, or under common control with the investment 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 SEC’s 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 registrants audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X:
4(b)
Fiscal year ended 2020 – 0%
Fiscal year ended 2019 - 0%
Percentage of services provided to the registrants investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were approved by the registrants 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 2020 – 0%
Fiscal year ended 2019 – 0%
Percentage of services provided to the registrants investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were approved by the registrants 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 2020 – 0%
Fiscal year ended 2019 – 0%
Percentage of services provided to the registrants investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were approved by the registrants 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 investment adviser, and certain entities controlling, controlled by or under common control with the investment adviser: |
Fiscal year ended 2020 - $122,735
Fiscal year ended 2019 - $606,377
(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 investment 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 Money Market Obligations Trust
By /S/ Lori A. Hensler
Lori A. Hensler, Principal Financial Officer
Date December 23, 2020
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, 2020
By /S/ Lori A. Hensler
Lori A. Hensler, Principal Financial Officer
Date December 23, 2020