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: 07/31/21
Date of Reporting Period: 07/31/21
Item 1. | Reports to Stockholders |
Ticker FRFXX |
Federated Hermes Capital Reserves Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
beneficially owned by natural persons.
Security Type | Percentage of Total Net Assets |
Commercial Paper | 45.4% |
Bank Instruments | 21.7% |
Variable Rate Instruments | 15.3% |
Other Repurchase Agreements and Repurchase Agreements | 16.7% |
U.S. Treasury | 0.3% |
Asset-Backed Securities | 20.0% |
Investment Company | 0.6% |
Other Assets and Liabilities—Net3 | 20.0% |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 540.4% |
8-30 Days | 12.9% |
31-90 Days | 36.1% |
91-180 Days | 6.2% |
181 Days or more | 4.4% |
Other Assets and Liabilities—Net3 | 20.0% |
TOTAL | 100% |
Principal Amount or Shares | Value | ||
1 | COMMERCIAL PAPER—45.4% | ||
Aerospace / Auto—3.1% | |||
$87,000,000 | American Honda Finance Corp., (Honda Motor Co., Ltd. Support Agreement), 0.190%—0.200%, 8/27/2021 - 9/23/2021 | $86,983,137 | |
45,000,000 | Toyota Finance Australia Ltd., (Toyota Motor Corp. Support Agreement), 0.200%, 8/10/2021 | 44,997,750 | |
TOTAL | 131,980,887 | ||
Banking—13.9% | |||
30,000,000 | Antalis S.A., (Societe Generale, Paris LIQ), 0.120%—0.150%, 9/2/2021 - 9/7/2021 | 29,996,050 | |
20,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 0.280%, 9/7/2021 | 19,994,244 | |
150,000,000 | BPCE SA, 0.180%, 9/1/2021 | 149,976,750 | |
23,500,000 | Canadian Imperial Bank of Commerce, 0.200%, 10/12/2021 | 23,490,600 | |
25,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 0.160%, 1/19/2022 | 24,981,000 | |
105,000,000 | Collateralized Commercial Paper V Co. LLC, 0.160%—0.180%, 8/9/2021 - 1/3/2022 | 104,991,856 | |
15,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.200%, 9/22/2021 | 14,995,667 | |
55,000,000 | LMA-Americas LLC, (Credit Agricole Corporate and Investment Bank LIQ), 0.100%—0.200%, 8/31/2021 - 9/27/2021 | 54,993,083 | |
30,000,000 | Manhattan Asset Funding Company LLC, (Sumitomo Mitsui Banking Corp. LIQ), 0.180%, 10/26/2021 | 29,987,100 | |
75,000,000 | Ridgefield Funding Company, LLC Series A, 0.190%—0.200%, 8/17/2021 - 9/10/2021 | 74,987,689 | |
25,000,000 | Royal Bank of Canada, 0.210%, 7/13/2022 | 24,949,542 | |
30,000,000 | Royal Bank of Canada, New York Branch, 0.280%, 11/19/2021 | 29,974,333 | |
15,000,000 | Toronto Dominion Bank, 0.240%, 5/3/2022 | 14,972,500 | |
TOTAL | 598,290,414 | ||
Chemicals—7.1% | |||
214,300,000 | BASF SE, 0.070%—0.140%, 8/2/2021 - 9/29/2021 | 214,258,477 | |
90,000,000 | PPG Industries, Inc., 0.200%—0.210%, 8/25/2021 - 9/9/2021 | 89,984,233 | |
TOTAL | 304,242,710 | ||
Electric Power—6.5% | |||
137,000,000 | Duke Energy Corp., 0.080%—0.140%, 8/2/2021 - 9/21/2021 | 136,996,545 | |
121,475,000 | EverSource Energy, 0.130%—0.170%, 8/10/2021 - 9/23/2021 | 121,464,115 | |
20,000,000 | Virginia Electric & Power Co., 0.170%, 8/5/2021 | 19,999,622 | |
TOTAL | 278,460,282 |
Principal Amount or Shares | Value | ||
1 | COMMERCIAL PAPER—continued | ||
Electrical Equipment—3.9% | |||
$170,000,000 | Eaton Corp., (Guaranteed by Eaton Corp. PLC), 0.120%—0.180%, 8/3/2021 - 8/5/2021 | $169,998,160 | |
Finance - Retail—3.9% | |||
168,000,000 | Barton Capital S.A., 0.120%—0.190%, 8/20/2021 - 10/26/2021 | 167,959,788 | |
Food & Beverage—0.3% | |||
13,000,000 | Mondelez International, Inc., 0.120%, 8/13/2021 | 12,999,480 | |
Insurance—2.9% | |||
75,000,000 | PRICOA Short Term Funding, LLC, 0.200%, 9/7/2021 | 74,984,583 | |
50,000,000 | UnitedHealth Group, Inc., 0.110%, 8/17/2021 | 49,997,556 | |
TOTAL | 124,982,139 | ||
Mining—3.8% | |||
162,455,000 | Nutrien Ltd., 0.130%—0.150%, 8/25/2021 - 9/9/2021 | 162,433,526 | |
TOTAL COMMERCIAL PAPER | 1,951,347,386 | ||
CERTIFICATES OF DEPOSIT—21.7% | |||
Banking—21.7% | |||
35,000,000 | Bank of Montreal, 0.240%, 5/5/2022 | 35,000,000 | |
35,000,000 | Canadian Imperial Bank of Commerce, 0.240%—0.270%, 1/4/2022 - 5/4/2022 | 35,000,000 | |
50,000,000 | Credit Agricole Corporate and Investment Bank, 0.080%, 8/3/2021 | 50,000,000 | |
112,000,000 | KBC Bank N.V., 0.100%, 9/17/2021 | 111,995,614 | |
214,500,000 | Landesbank Baden-Wurttemberg, 0.120%—0.170%, 8/23/2021 - 11/17/2021 | 214,500,000 | |
215,000,000 | Landesbank Hessen-Thuringen, 0.090%—0.150%, 8/2/2021 - 11/1/2021 | 215,000,000 | |
10,000,000 | Mizuho Bank Ltd., 0.140%, 8/20/2021 | 10,000,000 | |
25,000,000 | Royal Bank of Canada, 0.300%, 12/1/2021 | 25,000,000 | |
51,000,000 | Sumitomo Mitsui Banking Corp., 0.180%—0.190%, 9/8/2021 - 10/25/2021 | 51,000,000 | |
85,000,000 | Sumitomo Mitsui Trust Bank Ltd., 0.120%—0.130%, 9/1/2021 - 11/5/2021 | 85,000,000 | |
100,000,000 | Toronto Dominion Bank, 0.240%, 4/1/2022 | 100,000,000 | |
TOTAL CERTIFICATES OF DEPOSIT | 932,495,614 | ||
2 | NOTES-VARIABLE—15.3% | ||
Banking—11.7% | |||
30,000,000 | Bank of Montreal, 0.290% (Secured Overnight Financing Rate +0.240%), 8/2/2021 | 30,000,000 | |
10,000,000 | Bank of Nova Scotia, Toronto, 0.270% (Secured Overnight Financing Rate +0.220%), 8/2/2021 | 9,999,602 |
Principal Amount or Shares | Value | ||
2 | NOTES-VARIABLE—continued | ||
Banking—continued | |||
$9,200,000 | Bragg 2019 Family Trust No. 1, Series 2019, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | $9,200,000 | |
67,210,000 | Byron H. Rubin as Trustee of the Gerald J. Rubin Special Trust No. 1, UAD June 23, 2016, (Comerica Bank LOC), 0.150%, 8/5/2021 | 67,210,000 | |
35,080,000 | Carol Allen Family Liquidity Trust, (Comerica Bank LOC), 0.129%, 8/5/2021 | 35,080,000 | |
16,025,000 | Catholic Health Initiatives, Taxable Municipal Funding Trust (Series 2019-007) VRDNs, (Barclays Bank plc LOC), 0.290%, 8/5/2021 | 16,025,000 | |
2,270,000 | Colorado Health Facilities Authority, Series 2016B, (UMB Bank, N.A. LOC), 0.440%, 8/5/2021 | 2,270,000 | |
23,600,000 | Connecticut State, Golden Blue (Series 2017-016) Weekly VRDNs, (Barclays Bank plc LIQ)/(Barclays Bank plc LOC), 0.140%, 8/5/2021 | 23,600,000 | |
11,300,000 | Connecticut Water Co., Series 2004, (Citizens Bank, N.A., Providence LOC), 0.340%, 8/4/2021 | 11,300,000 | |
6,750,000 | CT 2019 Irrevocable Trust, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | 6,750,000 | |
7,090,000 | EG Irrevocable Life Insurance Trust, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | 7,090,000 | |
9,590,000 | Eric and Lizzie Bommer Insurance Trust, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | 9,590,000 | |
2,525,000 | Gannett Fleming, Inc., Series 2001, (Manufacturers & Traders Trust Co., Buffalo, NY LOC), 0.370%, 8/6/2021 | 2,525,000 | |
5,040,000 | GM Enterprises of Oregon, Inc., Series 2017, (Bank of the West, San Francisco, CA LOC), 0.120%, 8/5/2021 | 5,040,000 | |
23,445,000 | J.R. Adventures Insurance Trust, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | 23,445,000 | |
15,000,000 | New York State Energy Research & Development Authority (National Grid Generation LLC), (1997 Series A) Weekly VRDNs, (NatWest Markets plc LOC), 0.060%, 8/4/2021 | 15,000,000 | |
11,255,000 | NLS 2015 Irrevocable Trust, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | 11,255,000 | |
9,280,000 | Opler 2013 Irrevocable Trust, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | 9,280,000 | |
30,565,000 | RBS Insurance Trust, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | 30,565,000 | |
50,000,000 | Royal Bank of Canada, New York Branch, 0.280% (Secured Overnight Financing Rate +0.230%), 8/2/2021 | 50,000,000 | |
13,875,000 | Steel Dust Recycling, LLC, Series 2016, (Comerica Bank LOC), 0.150%, 8/5/2021 | 13,875,000 | |
6,145,000 | Taxable Municipal Funding Trust 2020-001, Barclays Taxable Muni Funding Trust (Series 2020-001) VRDNs, (Barclays Bank plc LOC), 0.290%, 8/5/2021 | 6,145,000 |
Principal Amount or Shares | Value | ||
2 | NOTES-VARIABLE—continued | ||
Banking—continued | |||
$1,200,000 | Taxable Municipal Funding Trust 2020-007, (Series 2020-007) VRDNs, (Barclays Bank plc LOC), 0.290%, 8/5/2021 | $1,200,000 | |
30,985,000 | Taxable Municipal Funding Trust 2020-011, (Series 2020-011) VRDNs, (Barclays Bank plc LOC), 0.290%, 8/5/2021 | 30,985,000 | |
2,600,000 | Taxable Municipal Funding Trust 2021-002, Barclays Taxable Muni Funding Trust (Series 2021-002) VRDNs, (Barclays Bank plc LOC), 0.290%, 8/5/2021 | 2,600,000 | |
9,825,000 | The KVR Insurance Trust, Series 2014, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | 9,825,000 | |
7,145,000 | The Raymon Lee Ince Irrevocable Trust, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | 7,145,000 | |
6,680,000 | The Rieber Life Insurance Trust, Series 2016, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | 6,680,000 | |
30,000,000 | Toronto Dominion Bank, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 30,000,000 | |
7,305,000 | Tuttle Insurance Trust No. 2, Series 2015, (BOKF, N.A. LOC), 0.150%, 8/5/2021 | 7,305,000 | |
13,000,000 | Yavapai County, AZ IDA—Recovery Zone Facility (Drake Cement LLC), Taxble (Series 2015) Weekly VRDNs, (Bank of Nova Scotia, Toronto LOC), 0.180%, 8/5/2021 | 13,000,000 | |
TOTAL | 503,984,602 | ||
Electric Power—0.7% | |||
32,000,000 | West Jefferson, AL IDB PCRB (Alabama Power Co.), (Series 1998) Weekly VRDNs, 0.100%, 8/5/2021 | 32,000,000 | |
Forest Products—0.9% | |||
14,200,000 | East Baton Rouge Parish, LA IDB (Georgia-Pacific LLC), Sold Waste Disposal Rebenue Bonds (Series 2004) Weekly VRDNs, 0.080%, 8/4/2021 | 14,200,000 | |
25,000,000 | Liberty County, FL (Georgia-Pacific LLC), (Series 2004) Weekly VRDNs, 0.090%, 8/5/2021 | 25,000,000 | |
TOTAL | 39,200,000 | ||
Government Agency—0.4% | |||
3,935,000 | Jerry P. Himmel Irrevocable Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 0.120%, 8/5/2021 | 3,935,000 | |
7,365,000 | Millbrook, AL Redevelopment Authority, RAM Millbrook Hospitality LLC Project, Series 2017, (Federal Home Loan Bank of New York LOC), 0.140%, 8/5/2021 | 7,365,000 | |
6,060,000 | Roberts Insurance Trusts, LLC, (Federal Home Loan Bank of Des Moines LOC), 0.120%, 8/5/2021 | 6,060,000 | |
TOTAL | 17,360,000 |
Principal Amount or Shares | Value | ||
2 | NOTES-VARIABLE—continued | ||
Metals—1.1% | |||
$45,000,000 | St. James Parish, LA (Nucor Steel Louisiana LLC), (Series 2010A-1) Weekly VRDNs, (Nucor Corp. GTD), 0.080%, 8/4/2021 | $45,000,000 | |
Miscellaneous—0.5% | |||
20,000,000 | Iowa Finance Authority (Cargill, Inc.), (Series 2021) Weekly VRDNs, 0.090%, 8/5/2021 | 20,000,000 | |
TOTAL NOTES-VARIABLE | 657,544,602 | ||
OTHER REPURCHASE AGREEMENTS—9.6% | |||
215,000,000 | Interest in $337,000,000 joint repurchase agreement, 0.14% dated 7/30/2021 under which BofA Securities, Inc. will repurchase the securities provided as collateral for $337,003,932 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were corporate bonds and medium-term notes with various maturities to 12/31/2099 and the market value of those underlying securities was $343,744,352. | 215,000,000 | |
10,000,000 | Repurchase agreement, 0.421% dated 5/19/2021 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $10,021,050 on 11/15/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were sovereign debt securities with various maturities to 3/17/2028 and the market value of those underlying securities was $10,276,683. | 10,000,000 | |
50,000,000 | Repurchase agreement, 0.471% dated 5/19/2021 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $50,117,750 on 11/15/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were corporate bonds and U.S. government agency with various maturities to 3/15/2046 and the market value of those underlying securities was $51,022,181. | 50,000,000 | |
25,000,000 | Repurchase agreement, 0.18% dated 7/30/2021 under which HSBC Securities (USA), Inc. will repurchase the securities provided as collateral for $25,000,375 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were corporate bonds, medium-term notes and sovereign debt securities with various maturities to 9/30/2049 and the market value of those underlying securities was $25,500,582. | 25,000,000 | |
10,000,000 | Interest in $30,000,000 joint repurchase agreement, 0.45% dated 9/4/2020 under which Mizuho Securities USA LLC will repurchase the securities provided as collateral for $30,147,000 on 10/1/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were asset-backed securities with various maturities to 4/15/2026 and the market value of those underlying securities was $30,624,798. | 10,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS—continued | |||
$50,000,000 | Repurchase agreement, 0.18% dated 7/30/2021 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $50,000,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were convertible bonds with various maturities to 5/24/2023 and the market value of those underlying securities was $51,001,052. | $50,000,000 | |
25,000,000 | Repurchase agreement, 0.54% dated 7/2/2021 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $25,033,750 on 9/30/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were convertible bonds with various maturities to 8/23/2022 and the market value of those underlying securities was $25,512,030. | 25,000,000 | |
25,000,000 | Repurchase agreement, 0.58% dated 4/27/2021 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $25,070,889 on 10/20/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were convertible bonds with various maturities to 9/15/2025 and the market value of those underlying securities was $25,504,791. | 25,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS | 410,000,000 | ||
REPURCHASE AGREEMENTS—7.1% | |||
50,000,000 | Interest in $200,000,000 joint repurchase agreement, 0.055% dated 7/30/2021 under which BMO Harris Bank will repurchase the securities provided as collateral for $200,000,917 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. government agency with various maturities to 2/25/2036 and the market value of those underlying securities was $206,056,714. | 50,000,000 | |
256,000,000 | Interest in $1,700,000,000 joint repurchase agreement, 0.05% dated 7/30/2021 under which BofA Securities, Inc. will repurchase the securities provided as collateral for $1,700,007,083 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. government agencies with various maturities to 4/20/2071 and the market value of those underlying securities was $1,739,450,450. | 256,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 306,000,000 | ||
U.S. TREASURY—0.3% | |||
10,000,000 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 | 10,001,415 | |
ASSET-BACKED SECURITIES—0.0% | |||
Finance - Equipment—0.0% | |||
667,957 | BCC Funding XVII LLC Equipment Contract Backed Notes, Series 2020-1, Class A1, 0.309%, 10/20/2021 | 667,957 |
Principal Amount or Shares | Value | ||
INVESTMENT COMPANY—0.6% | |||
$26,997,500 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 0.02% 3 | $27,000,102 | |
TOTAL INVESTMENT IN SECURITIES—100.0% (AT AMORTIZED COST)4 | 4,295,057,076 | ||
OTHER ASSETS AND LIABILITIES—0.0%5 | 867,151 | ||
TOTAL NET ASSETS—100% | $4,295,924,227 |
Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | |
Value as of 7/31/2020 | $27,000,100 |
Purchases at Cost | $5,003 |
Proceeds from Sales | $(5,003) |
Change in Unrealized Appreciation/Depreciation | $— |
Net Realized Gain/(Loss) | $2 |
Value as of 07/31/2021 | $27,000,102 |
Shares Held as of 07/31/2021 | 26,997,500 |
Dividend Income | $22,093 |
Valuation Inputs | ||||
Level 1— Quoted Prices | Level 2— Other Significant Observable Inputs | Level 3— Significant Unobservable Inputs | Total | |
Debt Securities: | ||||
Commercial Paper | $— | $ 1,951,347,386 | $— | $ 1,951,347,386 |
Certificates of Deposit | — | 932,495,614 | — | 932,495,614 |
Notes-Variable | — | 657,544,602 | — | 657,544,602 |
Repurchase Agreements | — | 306,000,000 | — | 306,000,000 |
Other Repurchase Agreements | — | 410,000,000 | — | 410,000,000 |
U.S. Treasury | — | 10,001,415 | — | 10,001,415 |
Asset-Backed Securities | — | 667,957 | — | 667,957 |
Investment Company | 27,000,102 | — | — | 27,000,102 |
TOTAL SECURITIES | $27,000,102 | $4,268,056,974 | $— | $4,295,057,076 |
COL | —Collateralized |
GTD | —Guaranteed |
IDA | —Industrial Development Authority |
IDB | —Industrial Development Bond |
LIQ | —Liquidity Agreement |
LOC | —Letter of Credit |
PCRBs | —Pollution Control Revenue Bonds |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income from Investment Operations: | |||||
Net investment income | 0.0001 | 0.007 | 0.016 | 0.007 | 0.001 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | 0.0001 | — |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.007 | 0.016 | 0.007 | 0.001 |
Less Distributions: | |||||
Distributions from net income | (0.000)1 | (0.007) | (0.016) | (0.007) | (0.001) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | — |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.007) | (0.016) | (0.007) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.68% | 1.58% | 0.75% | 0.10% |
Ratios to Average Net Assets: | |||||
Net expenses3,4 | 0.23% | 0.94% | 1.02% | 1.02% | 0.92% |
Net investment income | 0.01% | 0.65% | 1.58% | 0.70% | 0.08% |
Expense waiver/reimbursement5 | 0.97% | 0.28% | 0.19% | 0.19% | 0.30% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $4,295,924 | $4,312,748 | $4,030,191 | $4,220,884 | $6,951,890 |
July 31, 2021
Assets: | ||
Investment in securities, at value including $27,000,102 of investment in an affiliated holding* | $3,579,057,076 | |
Investments in other repurchase agreements and repurchase agreements | 716,000,000 | |
Investment in securities, at amortized cost and fair value | $4,295,057,076 | |
Cash | 647,891 | |
Income receivable | 477,087 | |
Prepaid expenses | 10,285 | |
Income receivable from an affiliated holding | 465 | |
TOTAL ASSETS | 4,296,192,804 | |
Liabilities: | ||
Payable for shares redeemed | 418 | |
Payable for portfolio accounting fees | 58,170 | |
Payable for share registration costs | 55,286 | |
Payable for other service fees (Notes 2 and 5) | 49,961 | |
Payable for custodian fees | 45,872 | |
Payable for auditing fees | 22,400 | |
Payable for administrative fee (Note 5) | 18,629 | |
Payable for investment adviser fee (Note 5) | 16,443 | |
Payable for Directors’/Trustees’ fees (Note 5) | 1,398 | |
TOTAL LIABILITIES | 268,577 | |
Net assets for 4,295,934,617 shares outstanding | $4,295,924,227 | |
Net Assets Consists of: | ||
Paid-in capital | $4,295,922,060 | |
Total distributable earnings | 2,167 | |
TOTAL NET ASSETS | $4,295,924,227 | |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | ||
$4,295,924,227 ÷ 4,295,934,617 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2021
Investment Income: | |||
Interest | $10,828,250 | ||
Dividends received from an affiliated holding* | 22,093 | ||
TOTAL INCOME | 10,850,343 | ||
Expenses: | |||
Investment adviser fee (Note 5) | $8,875,268 | ||
Administrative fee (Note 5) | 3,466,256 | ||
Custodian fees | 142,748 | ||
Transfer agent fees | 4,455,344 | ||
Directors’/Trustees’ fees (Note 5) | 22,035 | ||
Auditing fees | 22,400 | ||
Legal fees | 11,866 | ||
Distribution services fee (Note 5) | 24,406,986 | ||
Other service fees (Note 2) | 11,094,085 | ||
Portfolio accounting fees | 170,914 | ||
Share registration costs | 601,208 | ||
Printing and postage | 262,513 | ||
Miscellaneous (Note 5) | 39,076 | ||
TOTAL EXPENSES | 53,570,699 | ||
Waivers, Reimbursements and Reduction: | |||
Waiver/reimbursement of investment adviser fee (Note 5) | $(5,992,975) | ||
Waiver/reimbursement of other operating expenses (Notes 2 and 5) | (37,176,458) | ||
Reduction of custodian fees (Note 6) | (179) | ||
TOTAL WAIVERS, REIMBURSEMENTS AND REDUCTION | (43,169,612) | ||
Net expenses | 10,401,087 | ||
Net investment income | 449,256 | ||
Net realized gain on investments (including realized gain of $2 on sales of investments in an affiliated holding*) | 7,910 | ||
Change in net assets resulting from operations | $457,166 |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $449,256 | $27,076,477 |
Net realized gain | 7,910 | 12,213 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 457,166 | 27,088,690 |
Distributions to Shareholders: | ||
Distribution to shareholders | (446,155) | (27,113,973) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (446,155) | (27,113,973) |
Share Transactions: | ||
Proceeds from sale of shares | 1,667,943,463 | 1,976,943,371 |
Net asset value of shares issued to shareholders in payment of distributions declared | 436,441 | 26,473,971 |
Cost of shares redeemed | (1,685,214,367) | (1,720,835,686) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (16,834,463) | 282,581,656 |
Change in net assets | (16,823,452) | 282,556,373 |
Net Assets: | ||
Beginning of period | 4,312,747,679 | 4,030,191,306 |
End of period | $4,295,924,227 | $4,312,747,679 |
Year Ended July 31 | 2021 | 2020 |
Shares sold | 1,667,943,463 | 1,976,943,371 |
Shares issued to shareholders in payment of distributions declared | 436,441 | 26,473,971 |
Shares redeemed | (1,685,214,367) | (1,720,835,686) |
NET CHANGE RESULTING FROM FUND SHARE TRANSACTIONS | (16,834,463) | 282,581,656 |
2021 | 2020 | |
Ordinary Income1 | $446,155 | $27,113,973 |
Undistributed ordinary income | $3,101 |
Capital Loss Carryforwards | $(934) |
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 |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual | $1,000 | $1,000.00 | $20.89 |
Hypothetical (assuming a 5% return before expenses) | $1,000 | $1,023.90 | $20.90 |
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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
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. |
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 |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
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). |
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 |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date 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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
Share Class | Ticker | A | GRAXX | B | GRBXX | C | GRCXX |
F | GRGXX | P | GRFXX |
Federated Hermes Government Reserves Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
Repurchase Agreements | 57.1% |
U.S. Treasury Securities | 29.0% |
U.S. Government Agency Securities | 14.6% |
Other Assets and Liabilities—Net2 | (0.7)% |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 475.8% |
8-30 Days | 6.7% |
31-90 Days | 13.3% |
91-180 Days | 3.2% |
181 Days or more | 1.7% |
Other Assets and Liabilities—Net2 | (0.7)% |
TOTAL | 100% |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS—57.1% | |||
$250,000,000 | Repurchase agreement, 0.055% dated 7/30/2021 under which ABN Amro Bank N.V. will repurchase the securities provided as collateral for $250,001,146 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Government Agency and U.S. Treasury Securities with various maturities to 2/20/2051 and the market value of those underlying securities was $257,356,873. | $250,000,000 | |
35,000,000 | Repurchase agreement, 0.050% dated 7/30/2021 under which Barclays Capital, Inc. will repurchase the securities provided as collateral for $35,000,146 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 10/12/2021 and the market value of those underlying securities was $35,700,165. | 35,000,000 | |
150,000,000 | Interest in $200,000,000 joint repurchase agreement, 0.055% dated 7/30/2021 under which BMO Harris Bank, N.A. will repurchase the securities provided as collateral for $200,000,917 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Government Agency Securities with various maturities to 2/25/2036 and the market value of those underlying securities was $206,056,714. | 150,000,000 | |
400,000,000 | Repurchase agreement, 0.020% dated 5/13/2021 under which BNP Paribas SA will repurchase the securities provided as collateral for $400,020,222 on 8/12/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 5/15/2041 and the market value of those underlying securities was $408,018,360. | 400,000,000 | |
192,000,000 | Repurchase agreement, 0.050% dated 7/30/2021 under which BNP Paribas SA will repurchase the securities provided as collateral for $192,000,800 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 2/15/2051 and the market value of those underlying securities was $195,840,883. | 192,000,000 | |
141,368,000 | Interest in $1,700,000,000 joint repurchase agreement, 0.050% dated 7/30/2021 under which Bank Of America Securities, Inc. will repurchase the securities provided as collateral for $1,700,007,083 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Government Agency with various maturities to 4/20/2071 and the market value of those underlying securities was $1,739,450,450. | 141,368,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS—continued | |||
$150,000,000 | Repurchase agreement, 0.050% dated 7/30/2021 under which Bank Of America Securities, Inc. will repurchase the securities provided as collateral for $150,000,625 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 2/15/2029 and the market value of those underlying securities was $153,000,676. | $150,000,000 | |
150,000,000 | Repurchase agreement, 0.050% dated 7/30/2021 under which Bank Of America Securities, Inc. will repurchase the securities provided as collateral for $150,000,625 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 7/15/2023 and the market value of those underlying securities was $153,000,690. | 150,000,000 | |
350,000,000 | Repurchase agreement, 0.060% dated 7/22/2021 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $350,019,250 on 8/24/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 2/15/2045 and the market value of those underlying securities was $357,006,608. | 350,000,000 | |
500,000,000 | Repurchase agreement, 0.070% dated 3/4/2020 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $500,509,444 on 8/10/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 5/15/2051 and the market value of those underlying securities was $510,003,922. | 500,000,000 | |
3,000,000,000 | Repurchase agreement, 0.050% dated 7/30/2021 under which Federal Reserve Bank of New York will repurchase the securities provided as collateral for $3,000,012,500 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 11/15/2044 and the market value of those underlying securities was $3,000,012,595. | 3,000,000,000 | |
500,000,000 | Repurchase agreement, 0.055% dated 7/30/2021 under which Fixed Income Clearing Corporation will repurchase the securities provided as collateral for $500,002,292 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 5/15/2027 and the market value of those underlying securities was $510,000,016. | 500,000,000 | |
50,000,000 | Repurchase agreement, 0.055% dated 7/30/2021 under which HSBC Securities (USA), Inc. will repurchase the securities provided as collateral for $50,000,229 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Government Agency with various maturities to 6/1/2051 and the market value of those underlying securities was $51,000,000. | 50,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS—continued | |||
$353,000,000 | Interest in $600,000,000 joint repurchase agreement, 0.055% dated 7/30/2021 under which Natixis Financial Products LLC will repurchase the securities provided as collateral for $600,002,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 5/15/2051 and the market value of those underlying securities was $612,002,847. | $353,000,000 | |
200,000,000 | Repurchase agreement, 0.055% dated 7/30/2021 under which Natixis Financial Products LLC will repurchase the securities provided as collateral for $200,000,917 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 6/20/2051 and the market value of those underlying securities was $204,637,538. | 200,000,000 | |
130,000,000 | Repurchase agreement, 0.060% dated 7/30/2021 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $130,000,650 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S Government Agency Securities with various maturities to 8/26/2052 and the market value of those underlying securities was $132,829,613. | 130,000,000 | |
50,000,000 | Repurchase agreement, 0.060% dated 7/30/2021 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $50,000,250 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S Government Agency Securities with various maturities to 9/1/2035 and the market value of those underlying securities was $51,000,255. | 50,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 6,601,368,000 | ||
U.S. TREASURY—29.0% | |||
160,000,000 | 1 | United States Treasury Bill, 0.010%, 8/19/2021 | 159,999,200 |
120,000,000 | 1 | United States Treasury Bill, 0.015%, 8/12/2021 | 119,999,450 |
130,000,000 | 1 | United States Treasury Bill, 0.015%, 8/26/2021 | 129,998,646 |
125,000,000 | 1 | United States Treasury Bill, 0.015%, 9/21/2021 | 124,997,344 |
150,000,000 | 1 | United States Treasury Bill, 0.020%, 9/14/2021 | 149,996,333 |
100,000,000 | 1 | United States Treasury Bill, 0.020%, 9/28/2021 | 99,996,778 |
136,875,000 | 1 | United States Treasury Bill, 0.025%, 8/10/2021 | 136,874,144 |
130,550,000 | 1 | United States Treasury Bill, 0.025%, 8/17/2021 | 130,548,549 |
224,500,000 | 1 | United States Treasury Bill, 0.025%, 8/31/2021 | 224,495,323 |
77,000,000 | 1 | United States Treasury Bill, 0.025%, 9/9/2021 | 76,997,915 |
55,300,000 | 1 | United States Treasury Bill, 0.025%, 9/16/2021 | 55,298,234 |
75,000,000 | 1 | United States Treasury Bill, 0.030%, 8/3/2021 | 74,999,875 |
50,700,000 | 1 | United States Treasury Bill, 0.035%, 11/4/2021 | 50,695,317 |
51,000,000 | 1 | United States Treasury Bill, 0.037%, 10/28/2021 | 50,995,325 |
190,000,000 | 1 | United States Treasury Bill, 0.040%, 9/23/2021 | 189,988,811 |
Principal Amount | Value | ||
U.S. TREASURY—continued | |||
$185,000,000 | 1 | United States Treasury Bill, 0.040%, 10/14/2021 | $184,984,789 |
275,000,000 | 1 | United States Treasury Bill, 0.040%, 10/21/2021 | 274,975,250 |
50,000,000 | 1 | United States Treasury Bill, 0.040%, 12/9/2021 | 49,992,778 |
65,000,000 | 1 | United States Treasury Bill, 0.110%, 12/2/2021 | 64,975,571 |
124,400,000 | 1 | United States Treasury Bills, 0.015%—0.070%, 8/5/2021 | 124,399,456 |
115,000,000 | 1 | United States Treasury Bills, 0.073%—0.075%, 7/14/2022 | 114,917,756 |
80,000,000 | 2 | United States Treasury Floating Rate Notes, 0.080% (91-day T-Bill +0.029%), 8/3/2021 | 80,000,000 |
117,760,000 | 2 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 | 117,763,908 |
165,150,000 | 2 | United States Treasury Floating Rate Notes, 0.099% (91-day T-Bill +0.049%), 8/3/2021 | 165,163,936 |
75,500,000 | 2 | United States Treasury Floating Rate Notes, 0.105% (91-day T-Bill +0.055%), 8/3/2021 | 75,499,999 |
11,500,000 | 2 | United States Treasury Floating Rate Notes, 0.204% (91-day T-Bill +0.154%), 8/3/2021 | 11,500,000 |
28,000,000 | 2 | United States Treasury Floating Rate Notes, 0.350% (91-day T-Bill +0.300%), 8/3/2021 | 28,002,221 |
15,750,000 | United States Treasury Note, 1.750%, 5/15/2022 | 15,957,932 | |
20,000,000 | United States Treasury Note, 2.000%, 12/31/2021 | 20,158,735 | |
50,000,000 | United States Treasury Note, 2.875%, 11/15/2021 | 50,400,016 | |
57,000,000 | United States Treasury Notes, 0.125%—1.875%, 5/31/2022 | 57,315,706 | |
60,000,000 | United States Treasury Notes, 1.250%—1.500%, 10/31/2021 | 60,191,329 | |
74,500,000 | United States Treasury Notes, 1.500%—2.000%, 8/31/2021 | 74,595,929 | |
TOTAL U.S. TREASURY | 3,346,676,555 | ||
GOVERNMENT AGENCIES—14.6% | |||
20,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.090% (Secured Overnight Financing Rate +0.040%), 8/2/2021 | 20,000,000 |
28,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.095% (Secured Overnight Financing Rate +0.045%), 8/2/2021 | 27,996,969 |
50,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.105% (Secured Overnight Financing Rate +0.055%), 8/2/2021 | 49,996,530 |
15,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.110% (Secured Overnight Financing Rate +0.060%), 8/2/2021 | 15,000,000 |
20,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.115% (Secured Overnight Financing Rate +0.065%), 8/2/2021 | 20,000,000 |
55,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.125% (Secured Overnight Financing Rate +0.075%), 8/2/2021 | 55,000,000 |
20,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.195% (Secured Overnight Financing Rate +0.145%), 8/2/2021 | 20,000,000 |
37,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.230% (Secured Overnight Financing Rate +0.180%), 8/2/2021 | 37,000,000 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES—continued | |||
$34,700,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.260% (Secured Overnight Financing Rate +0.210%), 8/2/2021 | $34,700,000 |
55,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.350% (Secured Overnight Financing Rate +0.300%), 8/2/2021 | 55,000,000 |
79,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.070% (Secured Overnight Financing Rate +0.020%), 8/2/2021 | 79,000,000 |
35,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.085% (Secured Overnight Financing Rate +0.035%), 8/2/2021 | 35,000,000 |
48,100,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.090% (Secured Overnight Financing Rate +0.040%), 8/2/2021 | 48,100,000 |
90,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.095% (Secured Overnight Financing Rate +0.045%), 8/2/2021 | 90,000,000 |
62,500,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.105% (Secured Overnight Financing Rate +0.055%), 8/2/2021 | 62,500,000 |
198,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.110% (Secured Overnight Financing Rate +0.060%), 8/2/2021 | 198,000,000 |
27,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.115% (Secured Overnight Financing Rate +0.065%), 8/2/2021 | 27,000,000 |
63,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.130% (Secured Overnight Financing Rate +0.080%), 8/2/2021 | 63,000,000 |
25,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.135% (Secured Overnight Financing Rate +0.085%), 8/2/2021 | 25,000,000 |
44,600,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.140% (Secured Overnight Financing Rate +0.090%), 8/2/2021 | 44,600,000 |
17,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.165% (Secured Overnight Financing Rate +0.115%), 8/2/2021 | 17,000,000 |
60,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.170% (Secured Overnight Financing Rate +0.120%), 8/2/2021 | 60,000,000 |
39,650,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.200% (Secured Overnight Financing Rate +0.150%), 8/2/2021 | 39,650,000 |
127,000,000 | Federal Home Loan Bank System, 0.030%—0.125%, 8/16/2021 - 11/29/2021 | 126,998,358 | |
70,000,000 | 2 | Federal Home Loan Mortgage Corp. Floating Rate Notes, 0.115% (Secured Overnight Financing Rate +0.065%), 8/2/2021 | 70,000,000 |
21,300,000 | 2 | Federal Home Loan Mortgage Corp. Floating Rate Notes, 0.140% (Secured Overnight Financing Rate +0.090%), 8/2/2021 | 21,300,000 |
13,250,000 | 2 | Federal Home Loan Mortgage Corp. Floating Rate Notes, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 13,250,000 |
26,000,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.220% (Secured Overnight Financing Rate +0.170%), 8/2/2021 | 26,000,000 |
25,000,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.240% (Secured Overnight Financing Rate +0.190%), 8/2/2021 | 24,997,926 |
26,000,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 26,000,000 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES—continued | |||
$20,800,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.270% (Secured Overnight Financing Rate +0.220%), 8/2/2021 | $20,800,000 |
30,000,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.280% (Secured Overnight Financing Rate +0.230%), 8/2/2021 | 30,000,000 |
53,000,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.320% (Secured Overnight Financing Rate +0.270%), 8/2/2021 | 53,000,000 |
39,500,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.340% (Secured Overnight Financing Rate +0.290%), 8/2/2021 | 39,500,000 |
36,000,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.360% (Secured Overnight Financing Rate +0.310%), 8/2/2021 | 36,000,000 |
50,000,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.370% (Secured Overnight Financing Rate +0.320%), 8/2/2021 | 50,000,000 |
28,000,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.440% (Secured Overnight Financing Rate +0.390%), 8/2/2021 | 28,000,000 |
TOTAL GOVERNMENT AGENCIES | 1,689,389,783 | ||
TOTAL INVESTMENT IN SECURITIES—100.7% (AT AMORTIZED COST)3 | 11,637,434,338 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.7)%4 | (77,953,736) | ||
TOTAL NET ASSETS—100% | $11,559,480,602 |
Year Ended July 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.006 | 0.015 | 0.006 | 0.0001 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | (0.000)1 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.006 | 0.015 | 0.006 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.006) | (0.015) | (0.006) | (0.000)1 |
Distributions from net realized gain | (0.000)1 | — | — | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.006) | (0.015) | (0.006) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.61% | 1.47% | 0.56% | 0.02% |
Ratios to Average Net Assets: | |||||
Net expenses3,4 | 0.11% | 0.64% | 0.87% | 0.87% | 0.65% |
Net investment income | 0.01% | 0.54% | 1.48% | 0.54% | 0.02% |
Expense waiver/reimbursement5 | 0.92% | 0.41% | 0.14% | 0.15% | 0.37% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $133,442 | $150,878 | $103,120 | $73,428 | $87,623 |
Year Ended July 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.004 | 0.011 | 0.002 | 0.0001 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | (0.000)1 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.004 | 0.011 | 0.002 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.004) | (0.011) | (0.002) | — |
Distributions from net realized gain | (0.000)1 | — | — | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.004) | (0.011) | (0.002) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.36% | 1.07% | 0.23% | 0.00%3 |
Ratios to Average Net Assets: | |||||
Net expenses4,5 | 0.11% | 0.95% | 1.27% | 1.19% | 0.65% |
Net investment income | 0.01% | 0.40% | 1.07% | 0.20% | 0.00% |
Expense waiver/reimbursement6 | 1.26% | 0.43% | 0.11% | 0.17% | 0.74% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $843 | $1,139 | $1,682 | $2,024 | $3,252 |
Year Ended July 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.004 | 0.011 | 0.002 | 0.0001 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | (0.000)1 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.004 | 0.011 | 0.002 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.004) | (0.011) | (0.002) | — |
Distributions from net realized gain | (0.000)1 | — | — | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.004) | (0.011) | (0.002) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.38% | 1.08% | 0.23% | 0.00%3 |
Ratios to Average Net Assets: | |||||
Net expenses4,5 | 0.10% | 0.69% | 1.26% | 1.20% | 0.68% |
Net investment income | 0.01% | 0.22% | 1.09% | 0.19% | 0.00% |
Expense waiver/reimbursement6 | 1.23% | 0.65% | 0.08% | 0.16% | 0.69% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $5,677 | $8,299 | $4,505 | $6,007 | $9,963 |
Year Ended July 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.006 | 0.015 | 0.006 | 0.0001 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | (0.000)1 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.006 | 0.015 | 0.006 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.006) | (0.015) | (0.006) | (0.000)1 |
Distributions from net realized gain | (0.000)1 | — | — | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.006) | (0.015) | (0.006) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.61% | 1.47% | 0.56% | 0.02% |
Ratios to Average Net Assets: | |||||
Net expenses3,4 | 0.11% | 0.62% | 0.87% | 0.87% | 0.62% |
Net investment income | 0.01% | 0.53% | 1.49% | 0.54% | 0.02% |
Expense waiver/reimbursement5 | 0.89% | 0.42% | 0.16% | 0.16% | 0.42% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,609 | $1,743 | $1,556 | $1,071 | $1,524 |
Year Ended July 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.005 | 0.013 | 0.004 | 0.0001 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | (0.000)1 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.005 | 0.013 | 0.004 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.005) | (0.013) | (0.004) | (0.000)1 |
Distributions from net realized gain | (0.000)1 | — | — | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.005) | (0.013) | (0.004) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.52% | 1.32% | 0.41% | 0.00%3 |
Ratios to Average Net Assets: | |||||
Net expenses4,5 | 0.11% | 0.72% | 1.02% | 1.02% | 0.66% |
Net investment income | 0.01% | 0.47% | 1.31% | 0.40% | 0.00% |
Expense waiver/reimbursement6 | 1.09% | 0.48% | 0.18% | 0.18% | 0.54% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $11,417,910 | $10,706,195 | $8,069,420 | $8,626,983 | $10,580,501 |
July 31, 2021
Assets: | ||
Investment in securities | $5,036,066,338 | |
Investments in repurchase agreements | 6,601,368,000 | |
Investment in securities, at amortized cost and fair value | $11,637,434,338 | |
Cash | 561,127 | |
Income receivable | 1,715,943 | |
Receivable for shares sold | 379,692 | |
TOTAL ASSETS | 11,640,091,100 | |
Liabilities: | ||
Payable for investments purchased | 80,000,351 | |
Payable for shares redeemed | 107,000 | |
Payable for investment adviser fee (Note 5) | 84,258 | |
Payable for administrative fee (Note 5) | 49,821 | |
Payable for other service fees (Notes 2 and 5) | 322 | |
Accrued expenses (Note 5) | 368,746 | |
TOTAL LIABILITIES | 80,610,498 | |
Net assets for 11,559,156,862 shares outstanding | $11,559,480,602 | |
Net Assets Consists of: | ||
Paid-in capital | $11,559,155,726 | |
Total distributable earnings | 324,876 | |
TOTAL NET ASSETS | $11,559,480,602 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | ||
Class A Shares: | ||
Net asset value per share ($133,442,294 ÷ 133,438,459 shares outstanding), no par value, unlimited shares authorized | $1.00 | |
Offering price per share | $1.00 | |
Redemption proceeds per share | $1.00 | |
Class B Shares: | ||
Net asset value per share ($842,501 ÷ 842,479 shares outstanding), no par value, unlimited shares authorized | $1.00 | |
Offering price per share | $1.00 | |
Redemption proceeds per share (94.50/100 of $1.00)1 | $0.95 | |
Class C Shares: | ||
Net asset value per share ($5,676,731 ÷ 5,676,573 shares outstanding), no par value, unlimited shares authorized | $1.00 | |
Offering price per share | $1.00 | |
Redemption proceeds per share (99.00/100 of $1.00)1 | $0.99 | |
Class F Shares: | ||
Net asset value per share ($1,609,030 ÷ 1,608,986 shares outstanding), no par value, unlimited shares authorized | $1.00 | |
Offering price per share | $1.00 | |
Redemption proceeds per share (99.00/100 of $1.00)1 | $0.99 | |
Class P Shares: | ||
Net asset value per share ($11,417,910,046 ÷ 11,417,590,365 shares outstanding), no par value, unlimited shares authorized | $1.00 | |
Offering price per share | $1.00 | |
Redemption proceeds per share | $1.00 |
Year Ended July 31, 2021
Investment Income: | |||
Interest | $14,032,667 | ||
Expenses: | |||
Investment adviser fee (Note 5) | $23,184,262 | ||
Administrative fee (Note 5) | 9,053,701 | ||
Custodian fees | 354,037 | ||
Transfer agent fees (Notes 2 and 5) | 11,612,594 | ||
Directors’/Trustees’ fees (Note 5) | 56,942 | ||
Auditing fees | 22,400 | ||
Legal fees | 13,281 | ||
Distribution services fee (Note 5) | 63,624,398 | ||
Other service fees (Notes 2 and 5) | 28,773,242 | ||
Portfolio accounting fees | 193,000 | ||
Share registration costs | 853,493 | ||
Printing and postage | 626,796 | ||
Miscellaneous (Note 5) | 44,270 | ||
TOTAL EXPENSES | 138,412,416 | ||
Waivers, Reimbursement and Reduction: | |||
Waiver of investment adviser fee (Note 5) | $(21,959,340) | ||
Waiver/reimbursement of other operating expenses (Notes 2 and 5) | (103,790,300) | ||
Reduction of custodian fees (Note 6) | (316) | ||
TOTAL WAIVERS, REIMBURSEMENTS AND REDUCTION | (125,749,956) | ||
Net expenses | 12,662,460 | ||
Net investment income | 1,370,207 | ||
Net realized gain on investments | 14,886 | ||
Change in net assets resulting from operations | $1,385,093 |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $1,370,207 | $45,625,238 |
Net realized gain | 14,886 | 24,216 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 1,385,093 | 45,649,454 |
Distributions to Shareholders: | ||
Class A Shares | (13,570) | (694,231) |
Class B Shares | (92) | (5,236) |
Class C Shares | (895) | (17,672) |
Class F Shares | (168) | (9,320) |
Class P Shares | (1,067,900) | (44,898,751) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (1,082,625) | (45,625,210) |
Share Transactions: | ||
Proceeds from sale of shares | 8,148,572,146 | 8,572,744,710 |
Net asset value of shares issued to shareholders in payment of distributions declared | 1,049,111 | 44,341,265 |
Cost of shares redeemed | (7,458,696,904) | (5,929,139,320) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 690,924,353 | 2,687,946,655 |
Change in net assets | 691,226,821 | 2,687,970,899 |
Net Assets: | ||
Beginning of period | 10,868,253,781 | 8,180,282,882 |
End of period | $11,559,480,602 | $10,868,253,781 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Class A Shares | $58,572 | $(4,887) | $(50,864) |
Class B Shares | 745 | (725) | — |
Class C Shares | 4,327 | (1,733) | (2,418) |
Class F Shares | 811 | (100) | (676) |
Class P Shares | 11,548,139 | (1,790,790) | (9,540,544) |
TOTAL | $11,612,594 | $(1,798,235) | $(9,594,502) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees waived by Unaffiliated Third Parties | |
Class A Shares | $372,915 | $(300) | $(372,615) |
Class B Shares | 2,457 | (2,457) | — |
Class C Shares | 23,011 | — | (23,011) |
Class F Shares | 3,966 | (8) | (3,958) |
Class P Shares | 28,370,893 | — | (28,370,893) |
TOTAL | $28,773,242 | $(2,765) | $(28,770,477) |
Year Ended July 31 | 2021 | 2020 | ||
Class A Shares: | Shares | Amount | Shares | Amount |
Shares sold | 81,657,832 | $81,657,832 | 151,172,174 | $151,172,174 |
Shares issued to shareholders in payment of distributions declared | 13,091 | 13,091 | 678,625 | 678,625 |
Shares redeemed | (99,109,836) | (99,109,836) | (104,093,265) | (104,093,265) |
NET CHANGE RESULTING FROM CLASS A SHARE TRANSACTIONS | (17,438,913) | $(17,438,913) | 47,757,534 | $47,757,534 |
Year Ended July 31 | 2021 | 2020 | ||
Class B Shares: | Shares | Amount | Shares | Amount |
Shares sold | 324,777 | $324,777 | 938,157 | $938,157 |
Shares issued to shareholders in payment of distributions declared | 87 | 87 | 5,210 | 5,210 |
Shares redeemed | (621,739) | (621,739) | (1,486,180) | (1,486,180) |
NET CHANGE RESULTING FROM CLASS B SHARE TRANSACTIONS | (296,875) | $(296,875) | (542,813) | $(542,813) |
Year Ended July 31 | 2021 | 2020 | ||
Class C Shares: | Shares | Amount | Shares | Amount |
Shares sold | 15,818,992 | $15,818,992 | 20,152,713 | $20,152,713 |
Shares issued to shareholders in payment of distributions declared | 889 | 889 | 17,553 | 17,553 |
Shares redeemed | (18,442,707) | (18,442,707) | (16,375,485) | (16,375,485) |
NET CHANGE RESULTING FROM CLASS C SHARE TRANSACTIONS | (2,622,826) | $(2,622,826) | 3,794,781 | $3,794,781 |
Year Ended July 31 | 2021 | 2020 | ||
Class F Shares: | Shares | Amount | Shares | Amount |
Shares sold | 601,358 | $601,358 | 1,304,633 | $1,304,633 |
Shares issued to shareholders in payment of distributions declared | 119 | 119 | 5,873 | 5,873 |
Shares redeemed | (735,128) | (735,128) | (1,123,997) | (1,123,997) |
NET CHANGE RESULTING FROM CLASS F SHARE TRANSACTIONS | (133,651) | $(133,651) | 186,509 | $186,509 |
Year Ended July 31 | 2021 | 2020 | ||
Class P Shares: | Shares | Amount | Shares | Amount |
Shares sold | 8,050,169,194 | $8,050,169,187 | 8,399,177,033 | $8,399,177,033 |
Shares issued to shareholders in payment of distributions declared | 1,034,925 | 1,034,925 | 43,634,004 | 43,634,004 |
Shares redeemed | (7,339,787,494) | (7,339,787,494) | (5,806,060,393) | (5,806,060,393) |
NET CHANGE RESULTING FROM CLASS P SHARE TRANSACTIONS | 711,416,625 | $711,416,618 | 2,636,750,644 | $2,636,750,644 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 690,924,360 | $690,924,353 | 2,687,946,655 | $2,687,946,655 |
2021 | 2020 | |
Ordinary income1 | $1,082,625 | $45,625,210 |
Ordinary income1 | $324,876 |
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 |
Share Class Name | Percentage of Average Daily Net Assets of Class |
Class A Shares | 0.45% |
Class B Shares | 0.75% |
Class C Shares | 0.75% |
Class F Shares | 0.45% |
Class P Shares | 0.55% |
Distribution Service Fees Incurred | Distribution Services Fees Waived | |
Class A Shares | $ 680,153 | $(680,076) |
Class B Shares | 7,369 | (7,369) |
Class C Shares | 70,243 | (70,243) |
Class F Shares | 8,438 | (8,438) |
Class P Shares | 62,858,195 | (62,858,195) |
TOTAL | $63,624,398 | $(63,624,321) |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Class A Shares | $1,000.00 | $1,000.00 | $20.30 |
Class B Shares | $1,000.00 | $1,000.00 | $30.30 |
Class C Shares | $1,000.00 | $1,000.00 | $40.30 |
Class F Shares | $1,000.00 | $1,000.00 | $50.30 |
Class P Shares | $1,000.00 | $1,000.00 | $60.30 |
Hypothetical (assuming a 5% return before expenses): | |||
Class A Shares | $1,000.00 | $1,024.50 | $20.30 |
Class B Shares | $1,000.00 | $1,024.50 | $30.30 |
Class C Shares | $1,000.00 | $1,024.50 | $40.30 |
Class F Shares | $1,000.00 | $1,024.50 | $50.30 |
Class P Shares | $1,000.00 | $1,024.50 | $60.30 |
Class A Shares | 0.06% |
Class B Shares | 0.06% |
Class C Shares | 0.06% |
Class F Shares | 0.06% |
Class P Shares | 0.06% |
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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Deborah A. Cunningham Birth Date: September 15, 1959 CHIEF INVESTMENT OFFICER Officer since: May 2004 Portfolio Manager since: December 2009 | Principal Occupations: Deborah A. Cunningham has been the Fund’s Portfolio Manager since December 2009. Ms. 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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 608919536
CUSIP 608919528
CUSIP 608919510
CUSIP 608919205
Shares | Ticker | Select | GRTXX | Institutional | GOIXX |
Service | GOSXX | Administrative | GOEXX | |
Cash II | GFYXX | Cash Series | GFSXX | |
Capital | GOCXX | Trust | GORXX | |
Premier | GOFXX | Advisor | GOVXX | |
Federated Hermes Government Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
U.S. Treasury Securities | 34.6% |
U.S. Government Agency Securities | 14.0% |
Repurchase Agreements | 50.7% |
Other Assets and Liabilities—Net2 | 0.7% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of the principal types of securities in which the Fund invests. |
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 | 67.3% |
8-30 Days | 7.4% |
31-90 Days | 11.8% |
91-180 Days | 9.0% |
181 Days or more | 3.8% |
Other Assets and Liabilities—Net2 | 0.7% |
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 | ||
GOVERNMENT AGENCIES— 14.0% | |||
$ 24,000,000 | 1 | Federal Farm Credit System Discount Notes, 0.060%, 1/25/2022 | $23,992,920 |
595,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.070% (Secured Overnight Financing Rate +0.020%), 8/2/2021 | 594,977,068 |
380,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.075% (Secured Overnight Financing Rate +0.025%), 8/2/2021 - 8/5/2021 | 380,000,000 |
350,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.082% (Secured Overnight Financing Rate +0.032%), 8/2/2021 | 349,985,311 |
1,631,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.085% (Secured Overnight Financing Rate +0.035%), 8/2/2021 | 1,630,984,188 |
160,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.090% (Secured Overnight Financing Rate +0.040%), 8/2/2021 | 160,000,000 |
377,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.095% (Secured Overnight Financing Rate +0.045%), 8/2/2021 | 376,973,876 |
17,600,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.105% (Secured Overnight Financing Rate +0.055%), 8/2/2021 | 17,598,778 |
405,700,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.110% (Secured Overnight Financing Rate +0.060%), 8/2/2021 | 405,700,000 |
145,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.115% (Secured Overnight Financing Rate +0.065%), 8/2/2021 | 145,000,000 |
100,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.120% (Secured Overnight Financing Rate +0.070%), 8/2/2021 | 100,000,000 |
408,200,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.125% (Secured Overnight Financing Rate +0.075%), 8/2/2021 | 408,200,000 |
395,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.230% (Secured Overnight Financing Rate +0.180%), 8/2/2021 | 395,000,000 |
714,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 0.350% (Secured Overnight Financing Rate +0.300%), 8/2/2021 | 714,000,000 |
198,000,000 | 1 | Federal Home Loan Bank System Discount Notes, 0.037% - 0.040%, 10/6/2021 - 10/20/2021 | 197,985,978 |
360,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.060% (Secured Overnight Financing Rate +0.010%), 8/2/2021 | 360,000,000 |
742,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.110% (Secured Overnight Financing Rate +0.060%), 8/2/2021 | 742,000,000 |
280,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.115% (Secured Overnight Financing Rate +0.065%), 8/2/2021 | 280,000,000 |
650,500,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.130% (Secured Overnight Financing Rate +0.080%), 8/2/2021 | 650,500,000 |
472,200,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.135% (Secured Overnight Financing Rate +0.085%), 8/2/2021 | 472,201,813 |
575,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.140% (Secured Overnight Financing Rate +0.090%), 8/2/2021 | 575,000,000 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES— continued | |||
$ 197,750,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.165% (Secured Overnight Financing Rate +0.115%), 8/2/2021 | $197,750,000 |
679,400,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.170% (Secured Overnight Financing Rate +0.120%), 8/2/2021 | 679,400,000 |
476,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 0.200% (Secured Overnight Financing Rate +0.150%), 8/2/2021 | 476,000,000 |
4,889,410,000 | Federal Home Loan Bank System, 0.030% - 2.375%, 8/16/2021 - 2/22/2022 | 4,889,487,067 | |
627,000,000 | 2 | Federal Home Loan Mortgage Corp. Floating Rate Notes, 0.115% (Secured Overnight Financing Rate +0.065%), 8/2/2021 | 627,000,000 |
304,000,000 | 2 | Federal Home Loan Mortgage Corp. Floating Rate Notes, 0.140% (Secured Overnight Financing Rate +0.090%), 8/2/2021 | 304,000,000 |
144,000,000 | 2 | Federal Home Loan Mortgage Corp. Floating Rate Notes, 0.200% (Secured Overnight Financing Rate +0.150%), 8/2/2021 | 143,974,214 |
518,000,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.230% (Secured Overnight Financing Rate +0.180%), 8/2/2021 | 518,000,000 |
333,800,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 333,800,000 |
200,000,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.340% (Secured Overnight Financing Rate +0.290%), 8/2/2021 | 200,000,000 |
455,500,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.360% (Secured Overnight Financing Rate +0.310%), 8/2/2021 | 455,500,000 |
25,000,000 | 2 | Federal National Mortgage Association Floating Rate Notes, 0.370% (Secured Overnight Financing Rate +0.320%), 8/2/2021 | 25,017,409 |
266,827,000 | 2 | Housing and Urban Development Floating Rate Notes, 0.370% (91-day T-Bill +0.350%), 8/2/2021 | 266,827,000 |
TOTAL GOVERNMENT AGENCIES | 18,096,855,622 | ||
U.S. TREASURIES— 34.6% | |||
1,826,000,000 | 1 | United States Treasury Bills, 0.010% - 0.015%, 8/19/2021 | 1,825,990,182 |
1,383,000,000 | 1 | United States Treasury Bills, 0.015%, 8/12/2021 | 1,382,993,661 |
1,200,000,000 | 1 | United States Treasury Bills, 0.015%, 8/26/2021 | 1,199,987,499 |
1,400,000,000 | 1 | United States Treasury Bills, 0.015%, 9/21/2021 | 1,399,970,252 |
1,535,000,000 | 1 | United States Treasury Bills, 0.015% - 0.030%, 8/3/2021 | 1,534,997,692 |
1,240,000,000 | 1 | United States Treasury Bills, 0.015% - 0.070%, 8/5/2021 | 1,239,994,267 |
1,469,000,000 | 1 | United States Treasury Bills, 0.020%, 9/14/2021 | 1,468,964,091 |
1,245,000,000 | 1 | United States Treasury Bills, 0.020%, 9/28/2021 | 1,244,959,884 |
1,412,000,000 | 1 | United States Treasury Bills, 0.025%, 8/10/2021 | 1,411,991,175 |
1,340,000,000 | 1 | United States Treasury Bills, 0.025%, 8/17/2021 | 1,339,985,110 |
1,446,500,000 | 1 | United States Treasury Bills, 0.025%, 8/24/2021 | 1,446,476,896 |
1,342,000,000 | 1 | United States Treasury Bills, 0.025%, 8/31/2021 | 1,341,972,042 |
870,000,000 | 1 | United States Treasury Bills, 0.025%, 9/9/2021 | 869,976,439 |
613,000,000 | 1 | United States Treasury Bills, 0.025%, 9/16/2021 | 612,980,419 |
1,902,000,000 | 1 | United States Treasury Bills, 0.030% - 0.040%, 9/23/2021 | 1,901,890,203 |
489,000,000 | 1 | United States Treasury Bills, 0.035%, 11/4/2021 | 488,954,837 |
Principal Amount | Value | ||
U.S. TREASURIES— continued | |||
$ 223,000,000 | 1 | United States Treasury Bills, 0.035%, 11/12/2021 | $222,977,669 |
1,674,000,000 | 1 | United States Treasury Bills, 0.035% - 0.038%, 10/14/2021 | 1,673,873,534 |
1,185,000,000 | 1 | United States Treasury Bills, 0.035% - 0.140%, 10/7/2021 | 1,184,878,843 |
2,499,500,000 | 1 | United States Treasury Bills, 0.040%, 10/21/2021 | 2,499,275,048 |
213,000,000 | 1 | United States Treasury Bills, 0.040%, 12/9/2021 | 212,969,234 |
1,330,600,000 | 1 | United States Treasury Bills, 0.050%, 11/9/2021 | 1,330,415,195 |
685,000,000 | 1 | United States Treasury Bills, 0.050%, 11/16/2021 | 684,898,203 |
1,591,900,000 | 1 | United States Treasury Bills, 0.050%, 1/20/2022 | 1,591,519,709 |
1,561,030,000 | 1 | United States Treasury Bills, 0.050% - 0.053%, 1/13/2022 | 1,560,667,677 |
942,000,000 | 1 | United States Treasury Bills, 0.075%, 7/14/2022 | 941,319,016 |
710,000,000 | 1 | United States Treasury Bills, 0.110%, 12/2/2021 | 709,733,159 |
448,100,000 | 2 | United States Treasury Floating Rate Notes, 0.080% (91-day T-Bill +0.029%), 8/3/2021 | 448,097,979 |
2,149,000,000 | 2 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 | 2,149,108,618 |
1,635,920,000 | 2 | United States Treasury Floating Rate Notes, 0.099% (91-day T-Bill +0.049%), 8/3/2021 | 1,636,073,550 |
1,111,000,000 | 2 | United States Treasury Floating Rate Notes, 0.105% (91-day T-Bill +0.055%), 8/3/2021 | 1,111,004,195 |
260,000,000 | 2 | United States Treasury Floating Rate Notes, 0.164% (91-day T-Bill +0.114%), 8/3/2021 | 260,184,578 |
125,800,000 | 2 | United States Treasury Floating Rate Notes, 0.204% (91-day T-Bill +0.154%), 8/3/2021 | 125,800,000 |
374,000,000 | 2 | United States Treasury Floating Rate Notes, 0.350% (91-day T-Bill +0.300%), 8/3/2021 | 374,074,830 |
390,000,000 | United States Treasury Notes, 0.125%, 4/30/2022 | 390,126,453 | |
383,000,000 | United States Treasury Notes, 0.125% - 1.750%, 6/30/2022 | 386,081,061 | |
740,000,000 | United States Treasury Notes, 1.250%, 10/31/2021 | 742,125,344 | |
118,000,000 | United States Treasury Notes, 1.500%, 8/31/2021 | 118,132,076 | |
100,000,000 | United States Treasury Notes, 1.500%, 11/30/2021 | 100,463,162 | |
112,000,000 | United States Treasury Notes, 1.750%, 2/28/2022 | 113,073,771 | |
458,000,000 | United States Treasury Notes, 1.750%, 5/15/2022 | 464,049,885 | |
600,000,000 | United States Treasury Notes, 1.750% - 1.875%, 3/31/2022 | 606,784,517 | |
696,000,000 | United States Treasury Notes, 1.875%, 1/31/2022 | 702,297,903 | |
251,000,000 | United States Treasury Notes, 1.875%, 5/31/2022 | 254,757,292 | |
184,000,000 | United States Treasury Notes, 2.000%, 12/31/2021 | 185,460,358 | |
280,000,000 | United States Treasury Notes, 2.125% - 2.750%, 8/15/2021 | 280,251,507 | |
350,000,000 | United States Treasury Notes, 2.500%, 1/15/2022 | 353,885,190 | |
575,000,000 | United States Treasury Notes, 2.875%, 11/15/2021 | 579,607,219 | |
TOTAL | 44,706,051,424 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— 50.7% | |||
$ 540,000,000 | Interest in $675,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which ABN Amro Bank N.V., Netherlands will repurchase securities provided as collateral for $675,003,094 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 1/16/2062 and the market value of those underlying securities was $693,780,453. | $540,000,000 | |
500,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Australia & New Zealand Banking Group, Melbourne, will repurchase securities provided as collateral for $500,002,292 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. were U.S. Treasury securities with various maturities to 5/15/2050 and the market value of those underlying securities was $510,000,587. | 500,000,000 | |
1,511,617,000 | Interest in $1,745,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Bank of America, N.A. will repurchase securities provided as collateral for $1,745,007,998 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 8/20/2049 and the market value of those underlying securities was $1,779,908,158. | 1,511,617,000 | |
195,000,000 | Interest in $250,000,000 joint repurchase agreement 0.05%, dated 4/1/2021 under which Bank of Montreal will repurchase securities provided as collateral for $250,042,708 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 8/15/2061 and the market value of those underlying securities was $255,043,574. | 195,000,000 | |
200,000,000 | Interest in $250,000,000 joint repurchase agreement 0.06%, dated 7/14/2021 under which Bank of Montreal will repurchase securities provided as collateral for $250,013,750 on 8/16/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 8/1/2051 and the market value of those underlying securities was $255,008,075. | 200,000,000 | |
200,000,000 | Interest in $250,000,000 joint repurchase agreement 0.06%, dated 7/16/2021 under which Bank of Montreal will repurchase securities provided as collateral for $250,012,917 on 8/16/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 6/1/2051 and the market value of those underlying securities was $255,010,405. | 200,000,000 | |
100,000,000 | Repurchase agreement 0.06%, dated 7/21/2021 under which Bank of Montreal will repurchase securities provided as collateral for $100,005,500 on 8/23/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 7/20/2051 and the market value of those underlying securities was $102,002,392. | 100,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 100,000,000 | Repurchase agreement 0.07%, dated 7/7/2021 under which Bank of Montreal will repurchase securities provided as collateral for $100,012,250 on 9/8/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 8/15/2056 and the market value of those underlying securities was $102,005,157. | $100,000,000 | |
200,000,000 | Interest in $250,000,000 joint repurchase agreement 0.07%, dated 7/9/2021 under which Bank of Montreal will repurchase securities provided as collateral for $250,030,625 on 9/10/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 8/1/2051 and the market value of those underlying securities was $255,071,325. | 200,000,000 | |
400,000,000 | Interest in $500,000,000 joint repurchase agreement 0.07%, dated 7/6/2021 under which BMO Capital Markets Corp. will repurchase securities provided as collateral for $500,029,167 on 8/5/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency and U.S. Treasury securities with various maturities to 7/20/2071 and the market value of those underlying securities was $514,379,226. | 400,000,000 | |
999,000,000 | Interest in $1,600,000,000 joint repurchase agreement 0.02%, dated 5/13/2021 under which BNP Paribas S.A. will repurchase securities provided as collateral for $1,600,080,889 on 8/12/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 8/15/2046 and the market value of those underlying securities was $1,632,073,444. | 999,000,000 | |
250,000,000 | Repurchase agreement 0.02%, dated 5/14/2021 under which BNP Paribas S.A. will repurchase securities provided as collateral for $250,013,056 on 8/16/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 5/15/2041 and the market value of those underlying securities was $255,011,413. | 250,000,000 | |
350,000,000 | Interest in $1,350,000,000 joint repurchase agreement 0.05%, dated 7/30/2021 under which BofA Securities, Inc. will repurchase securities provided as collateral for $1,350,005,625 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 1/1/2057 and the market value of those underlying securities was $1,377,005,738. | 350,000,000 | |
500,000,000 | Repurchase agreement 0.06%, dated 7/12/2021 under which CIBC World Markets Corp. will repurchase securities provided as collateral for $500,023,681 on 8/12/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 8/15/2050 and the market value of those underlying securities was $510,024,236. | 500,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,500,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,500,006,875 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2045 and the market value of those underlying securities was $1,530,007,070. | $1,500,000,000 | |
750,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $750,003,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities and a U.S. Treasury security with various maturities to 6/20/2069 and the market value of those underlying securities was $766,112,896. | 750,000,000 | |
1,250,000,000 | Interest in $1,750,000,000 joint repurchase agreement 0.07%, dated 3/4/2020 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,750,023,819 on 8/10/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 11/20/2070 and the market value of those underlying securities was $1,788,783,843. | 1,250,000,000 | |
44,000,000,000 | Repurchase agreement 0.05%, dated 7/30/2021 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $44,000,183,333 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 11/15/2049 and the market value of those underlying securities was $44,000,183,356. | 44,000,000,000 | |
1,500,000,959 | Repurchase agreement 0.06%, dated 7/30/2021 under which Fixed Income Clearing Corporation will repurchase securities provided as collateral for $1,500,007,834 on 8/2/2021. The securities provided as collateral at the end of the period held with JPMorgan Chase as tri-party agent, were U.S. Treasury securities with various maturities to 11/15/2048 and the market value of those underlying securities was $1,532,066,646. | 1,500,000,959 | |
75,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which HSBC Securities (USA), Inc. will repurchase securities provided as collateral for $75,000,344 on 8/2/2021. The securities provided as collateral at the end of the period held with JPMorgan Chase as tri-party agent, were U.S. Government Agency securities with various maturities to 7/20/2050 and the market value of those underlying securities was $76,500,000. | 75,000,000 | |
2,000,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which ING Financial Markets LLC will repurchase securities provided as collateral for $2,000,009,167 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co., were U.S. Treasury securities with various maturities to 11/15/2050 and the market value of those underlying securities was $2,040,840,577. | 2,000,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 450,001,712 | Repurchase agreement 0.06%, dated 7/30/2021 under which Metropolitan Life Insurance Co. will repurchase securities provided as collateral for $450,003,962 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co., were U.S. Treasury securities with various maturities to 5/15/2040 and the market value of those underlying securities was $459,179,931. | $450,001,712 | |
485,842,000 | Interest in $650,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Mizuho Securities USA, Inc. will repurchase securities provided as collateral for $650,003,250 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 8/1/2051 and the market value of those underlying securities was $663,003,315. | 485,842,000 | |
2,150,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which MUFG Securities Americas, Inc. will repurchase securities provided as collateral for $2,150,009,854 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 7/15/2061 and the market value of those underlying securities was $2,199,470,772. | 2,150,000,000 | |
873,000,000 | Interest in $3,275,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $3,275,015,010 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 5/15/2051 and the market value of those underlying securities was $3,340,515,429. | 873,000,000 | |
255,854,685 | Repurchase agreement 0.07%, dated 7/30/2021 under which Prudential Insurance Co. of America will repurchase securities provided as collateral for $255,856,177 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. were U.S. Government Agency securities with various maturities to 10/1/2048 and the market value of those underlying securities was $261,000,592. | 255,854,685 | |
125,323,750 | Repurchase agreement 0.06%, dated 7/30/2021 under which Prudential Legacy Insurance Co. of NJ will repurchase securities provided as collateral for $125,324,377 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co., were U.S. Treasury securities with various maturities to 5/15/2030 and the market value of those underlying securities was $128,023,029. | 125,323,750 | |
1,600,000,000 | Interest in $2,000,000,000 joint repurchase agreement 0.06%, dated 7/6/2021 under which Royal Bank of Canada, New York Branch will repurchase securities provided as collateral for $2,000,306,667 on 10/6/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 8/1/2059 and the market value of those underlying securities was $2,040,713,897. | 1,600,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,600,000,000 | Interest in $2,000,000,000 joint repurchase agreement 0.06%, dated 7/7/2021 under which Royal Bank of Canada, New York Branch will repurchase securities provided as collateral for $2,000,310,000 on 10/8/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 8/1/2059 and the market value of those underlying securities was $2,041,276,988. | $1,600,000,000 | |
500,000,000 | Interest in $1,000,000,000 joint repurchase agreement 0.08%, dated 2/9/2021 under which Royal Bank of Canada, New York Branch will repurchase securities provided as collateral for $1,000,400,000 on 8/9/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency and U.S. Treasury securities with various maturities to 5/20/2051 and the market value of those underlying securities was $1,020,413,614. | 500,000,000 | |
147,000,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp. will repurchase securities provided as collateral for $3,000,013,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2050 and the market value of those underlying securities was $3,060,014,952. | 147,000,000 | |
311,666,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp. will repurchase securities provided as collateral for $3,000,013,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 6/1/2051 and the market value of those underlying securities was $3,060,014,025. | 311,666,000 | |
50,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $50,000,250 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 7/1/2051 and the market value of those underlying securities was $51,000,256. | 50,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 65,669,306,106 | ||
TOTAL INVESTMENT IN SECURITIES—99.3% (AT AMORTIZED COST)3 | 128,472,213,152 | ||
OTHER ASSETS AND LIABILITIES - NET—0.7%4 | 952,725,890 | ||
TOTAL NET ASSETS—100% | $129,424,939,042 |
1 | Discount rate(s) at time of purchase. |
2 | Floating/variable note with current rate and current maturity or next reset date shown. |
3 | Also represents cost of investments for federal tax purposes. |
4 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0002 | 0.012 | 0.012 | 0.003 | 0.001 |
Net realized gain (loss) | 0.0002 | (0.001) | (0.000)2 | 0.0002 | 0.0002 |
Total From Investment Operations | 0.0002 | 0.011 | 0.012 | 0.003 | 0.001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)2 | (0.011) | (0.012) | (0.003) | (0.001) |
Distributions from net realized gain | — | (0.000)2 | — | (0.000)2 | (0.000)2 |
Total Distributions | (0.000)2 | (0.011) | (0.012) | (0.003) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.02% | 1.12% | 1.23% | 0.31% | 0.01% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.11% | 0.17% | 1.15% | 1.11% | 0.68% |
Net investment income | 0.02% | 0.74% | 1.21% | 0.24% | 0.01% |
Expense waiver/reimbursement5 | 0.20% | 0.14% | 0.13% | 0.17% | 0.58% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $8,073,883 | $7,328,261 | $3,307 | $2,365 | $5,259 |
1 | Effective August 1, 2019, the Class R Shares were re-designated as Select Shares. |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.011 | 0.021 | 0.013 | 0.001 |
Net realized gain (loss) | — | (0.000)1 | (0.000)1 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.011 | 0.021 | 0.013 | 0.001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.011) | (0.021) | (0.013) | (0.001) |
Distributions from net realized gain | — | (0.000)1 | — | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.011) | (0.021) | (0.013) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.02% | 1.09% | 2.17% | 1.26% | 0.47% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.10% | 0.19% | 0.19% | 0.19% | 0.18% |
Net investment income | 0.02% | 0.97% | 2.15% | 1.24% | 0.47% |
Expense waiver/reimbursement4 | 0.23% | 0.15% | 0.14% | 0.15% | 0.16% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $31,176,397 | $29,928,127 | $23,667,498 | $23,308,693 | $26,390,917 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.009 | 0.019 | 0.010 | 0.001 |
Net realized gain (loss) | — | 0.0001 | (0.000)1 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.009 | 0.019 | 0.010 | 0.0011 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.009) | (0.019) | (0.010) | (0.001) |
Distributions from net realized gain | — | (0.000)1 | — | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.009) | (0.019) | (0.010) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.02% | 0.91% | 1.94% | 1.03% | 0.23% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.11% | 0.38% | 0.42% | 0.41% | 0.42% |
Net investment income | 0.01% | 0.83% | 1.93% | 1.02% | 0.23% |
Expense waiver/reimbursement4 | 0.43% | 0.17% | 0.13% | 0.13% | 0.15% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $13,157,890 | $12,300,069 | $10,249,258 | $7,828,028 | $8,078,425 |
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 | 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 July 31, | Period Ended 7/31/20181 | |||
2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | ||||
Net investment income | 0.024 | 0.009 | 0.019 | 0.009 |
Net realized gain (loss) | (0.024) | (0.000)2 | (0.000)2 | — |
Total From Investment Operations | 0.000 | 0.009 | 0.019 | 0.009 |
Less Distributions: | ||||
Distributions from net investment income | (0.000)2 | (0.009) | (0.019) | (0.009) |
Distributions from net realized gain | — | (0.000)2 | — | — |
Total Distributions | (0.000)2 | (0.009) | (0.019) | (0.009) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.02% | 0.88% | 1.90% | 0.91% |
Ratios to Average Net Assets: | ||||
Net Expenses4 | 0.19% | 0.41% | 0.45% | 0.45%5 |
Net investment income | 0.01% | 0.89% | 1.97% | 1.23%5 |
Expense waiver/reimbursement6 | 0.39% | 0.18% | 0.13% | 0.15%5 |
Supplemental Data: | ||||
Net assets, end of period (000 omitted) | $219 | $253,981 | $176,438 | $12,413 |
1 | Reflects operations for the period from September 28, 2017 (date of initial investment) to July 31, 2018. |
2 | Represents less than $0.001. |
3 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | Computed on an annualized basis. |
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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.006 | 0.015 | 0.006 | 0.0001 |
Net realized gain (loss) | — | 0.0001 | (0.000)1 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.006 | 0.015 | 0.006 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.006) | (0.015) | (0.006) | (0.000)1 |
Distributions from net realized gain | — | (0.000)1 | — | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.006) | (0.015) | (0.006) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.02% | 0.63% | 1.51% | 0.60% | 0.03% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.11% | 0.64% | 0.84% | 0.84% | 0.60% |
Net investment income | 0.01% | 0.61% | 1.51% | 0.60% | 0.03% |
Expense waiver/reimbursement4 | 0.86% | 0.34% | 0.13% | 0.13% | 0.38% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $625,477 | $599,710 | $534,565 | $494,899 | $474,014 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.005 | 0.013 | 0.004 | 0.0001 |
Net realized gain (loss) | — | 0.0001 | (0.000)1 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.005 | 0.013 | 0.004 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.005) | (0.013) | (0.004) | (0.000)1 |
Distributions from net realized gain | — | (0.000)1 | — | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.005) | (0.013) | (0.004) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.02% | 0.54% | 1.35% | 0.39% | 0.01% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.11% | 0.71% | 1.00% | 1.05% | 0.59% |
Net investment income | 0.01% | 0.48% | 1.35% | 0.31% | 0.01% |
Expense waiver/reimbursement4 | 1.07% | 0.47% | 0.18% | 0.18% | 0.64% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $526,713 | $349,935 | $259,284 | $96,724 | $203,670 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.010 | 0.020 | 0.011 | 0.001 |
Net realized gain (loss) | — | (0.000)1 | (0.000)1 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.010 | 0.020 | 0.011 | 0.001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.010) | (0.020) | (0.011) | (0.001) |
Distributions from net realized gain | — | (0.000)1 | — | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.010) | (0.020) | (0.011) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.02% | 0.99% | 2.05% | 1.14% | 0.36% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.12% | 0.30% | 0.30% | 0.30% | 0.29% |
Net investment income | 0.01% | 0.94% | 2.04% | 1.15% | 0.38% |
Expense waiver/reimbursement4 | 0.32% | 0.14% | 0.13% | 0.13% | 0.14% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $3,044,642 | $3,454,165 | $3,399,696 | $3,078,850 | $2,568,978 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.007 | 0.017 | 0.008 | 0.0001 |
Net realized gain (loss) | — | (0.000)1 | (0.000)1 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.007 | 0.017 | 0.008 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.007) | (0.017) | (0.008) | (0.000)1 |
Distributions from net realized gain | — | (0.000)1 | — | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.007) | (0.017) | (0.008) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.02% | 0.73% | 1.67% | 0.76% | 0.09% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.12% | 0.54% | 0.69% | 0.68% | 0.56% |
Net investment income | 0.01% | 0.66% | 1.71% | 0.74% | 0.09% |
Expense waiver/reimbursement4 | 0.71% | 0.29% | 0.13% | 0.13% | 0.25% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $2,658,370 | $3,303,066 | $2,472,153 | $597,348 | $1,255,471 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.011 | 0.022 | 0.013 | 0.001 |
Net realized gain (loss) | — | 0.0001 | (0.000)1 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.011 | 0.022 | 0.013 | 0.001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.011) | (0.022) | (0.013) | (0.001) |
Distributions from net realized gain | — | (0.000)1 | — | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.011) | (0.022) | (0.013) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.03% | 1.14% | 2.21% | 1.29% | 0.51% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.10% | 0.15% | 0.15% | 0.15% | 0.14% |
Net investment income | 0.02% | 0.96% | 2.20% | 1.28% | 0.52% |
Expense waiver/reimbursement4 | 0.18% | 0.14% | 0.13% | 0.13% | 0.14% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $69,590,226 | $76,682,858 | $42,873,211 | $29,053,580 | $27,271,620 |
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 | 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 July 31, | Period Ended 7/31/20191 | ||
2021 | 2020 | ||
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||
Net investment income | 0.0002 | 0.011 | 0.012 |
Net realized gain (loss) | — | 0.0002 | (0.000)2 |
Total From Investment Operations | 0.0002 | 0.011 | 0.012 |
Less Distributions: | |||
Distributions from net investment income | (0.000)2 | (0.011) | (0.012) |
Distributions from net realized gains | — | (0.000)2 | — |
Total Distributions | (0.000)2 | (0.011) | (0.012) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.03% | 1.14% | 1.24% |
Ratios to Average Net Assets: | |||
Net expenses4 | 0.11% | 0.15% | 0.15%5 |
Net investment income | 0.03% | 0.81% | 2.29%5 |
Expense waiver/reimbursement6 | 0.17% | 0.14% | 0.13%5 |
Supplemental Data: | |||
Net assets, end of period (000 omitted) | $571,121 | $1,089 | $356 |
1 | Reflects operations for the period from January 18, 2019 (date of initial investment) to July 31, 2019. |
2 | Represents less than $0.001. |
3 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | Computed on an annualized basis. |
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. |
July 31, 2021
Assets: | |
Investment in repurchase agreements | $65,669,306,106 |
Investment in securities | 62,802,907,046 |
Investment in securities, at amortized cost | 128,472,213,152 |
Cash | 1,523,710,395 |
Income receivable | 30,748,680 |
Receivable for shares sold | 10,230,439 |
Total Assets | 130,036,902,666 |
Liabilities: | |
Payable for investments purchased | 548,099,949 |
Payable for shares redeemed | 59,568,017 |
Income distribution payable | 1,555,903 |
Payable for investment adviser fee (Note 5) | 448,145 |
Payable for administrative fee (Note 5) | 554,078 |
Accrued expenses (Note 5) | 1,737,532 |
Total Liabilities | 611,963,624 |
Net assets for 129,421,916,520 shares outstanding | $129,424,939,042 |
Net Assets Consist of: | |
Paid-in capital | $129,422,094,130 |
Total distributable earnings (loss) | 2,844,912 |
Total Net Assets | $129,424,939,042 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Select Shares: | |
$8,073,883,129 ÷ 8,073,694,647 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Institutional Shares: | |
$31,176,397,180 ÷ 31,175,669,183 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$13,157,890,395 ÷ 13,157,582,912 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Administrative Shares: | |
$218,869 ÷ 218,864 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$625,476,769 ÷ 625,462,168 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$526,713,466 ÷ 526,701,170 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$3,044,642,181 ÷ 3,044,570,703 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$2,658,370,052 ÷ 2,658,307,990 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Premier Shares: | |
$69,590,226,459 ÷ 69,588,601,702 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$571,120,542 ÷ 571,107,181 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2021
Investment Income: | |
Interest | $155,123,807 |
Expenses: | |
Investment adviser fee (Note 5) | 245,046,313 |
Administrative fee (Note 5) | 95,666,475 |
Custodian fees | 3,481,352 |
Transfer agent fees (Note 2) | 4,288,850 |
Directors’/Trustees’ fees (Note 5) | 638,754 |
Auditing fees | 28,626 |
Legal fees | 11,904 |
Portfolio accounting fees | 385,573 |
Distribution services fee (Note 5) | 12,511,019 |
Other service fees (Notes 2 and 5) | 61,441,883 |
Share registration costs | 364,187 |
Printing and postage | 716,237 |
Miscellaneous (Note 5) | 555,049 |
TOTAL EXPENSES | 425,136,222 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (201,119,462) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (93,802,830) |
TOTAL WAIVERS AND REIMBURSEMENTS | (294,922,292) |
Net expenses | 130,213,930 |
Net investment income | 24,909,877 |
Net realized gain on investments | 9,077,458 |
Change in net assets resulting from operations | $33,987,335 |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $24,909,877 | $1,084,213,997 |
Net realized gain (loss) | 9,077,458 | 1,437,883 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 33,987,335 | 1,085,651,880 |
Distributions to Shareholders: | ||
Select Shares | (1,828,331) | (37,993,083) |
Institutional Shares | (5,856,051) | (286,535,688) |
Service Shares | (2,296,400) | (107,207,632) |
Administrative Shares | (6,621) | (2,629,456) |
Cash II Shares | (115,528) | (3,376,746) |
Cash Series Shares | (68,462) | (1,444,914) |
Capital Shares | (570,369) | (32,682,492) |
Trust Shares | (554,628) | (19,803,749) |
Premier Shares | (20,496,173) | (586,013,108) |
Advisor Shares | (245,060) | (6,389,301) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (32,037,623) | (1,084,076,169) |
Share Transactions: | ||
Proceeds from sale of shares | 746,976,858,957 | 766,198,188,250 |
Proceeds from shares issued in connection with the tax- free transfer of assets from PNC Government Money Market Fund | — | 9,483,150,229 |
Net asset value of shares issued to shareholders in payment of distributions declared | 12,956,511 | 415,005,995 |
Cost of shares redeemed | (752,855,672,951) | (724,800,195,421) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (5,865,857,483) | 51,296,149,053 |
Change in net assets | (5,863,907,771) | 51,297,724,764 |
Net Assets: | ||
Beginning of period | 135,288,846,813 | 83,991,122,049 |
End of period | $129,424,939,042 | $135,288,846,813 |
Shares of the Fund Issued | Acquired Fund’s Net Assets Received | Net Assets of the Fund Immediately Prior to Combination | Net Assets of the Fund Immediately After Combination |
9,483,150,229 | $9,483,150,229 | $105,367,217,265 | $114,850,367,494 |
Net investment income | $1,147,838,495 |
Net realized and unrealized gain on investments | 1,511,016 |
Net increase in net assets resulting from operations | $1,149,349,511 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Select Shares | $49,197 | $— | $— |
Institutional Shares | 175,442 | — | (337) |
Service Shares | 1,425,923 | — | (798,550) |
Administrative Shares | 319 | — | — |
Cash II Shares | 613,901 | — | (541,371) |
Cash Series Shares | 172,743 | — | (140,595) |
Capital Shares | 20,294 | — | — |
Trust Shares | 1,403,101 | — | (1,056,815) |
Premier Shares | 422,770 | (1,028) | — |
Advisor Shares | 5,160 | — | — |
TOTAL | $4,288,850 | $(1,028) | $(2,537,668) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Select Shares | $1,374,053 | $— | $(974,089) |
Institutional Shares | 13,428,642 | (2,007,868) | (9,801,236) |
Service Shares | 31,416,191 | (1,344,975) | (29,269,624) |
Administrative Shares | 23,951 | — | (23,951) |
Cash II Shares | 1,610,816 | — | (1,610,816) |
Cash Series Shares | 905,388 | (133) | (905,255) |
Capital Shares | 4,740,171 | (183,227) | (4,180,174) |
Trust Shares | 7,942,671 | — | (7,942,671) |
TOTAL | $61,441,883 | $(3,536,203) | $(54,707,816) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Select Shares:1 | Shares | Amount | Shares | Amount |
Shares sold | 11,534,377,670 | $11,534,389,592 | 8,626,409,532 | $8,626,417,143 |
Proceeds from shares issued in connection with the tax-free transfer of assets from the Acquired Fund | — | — | 6,795,016,726 | 6,795,016,726 |
Shares issued to shareholders in payment of distributions declared | 57,230 | 57,230 | 2,565,980 | 2,565,980 |
Shares redeemed | (10,788,951,388) | (10,788,951,388) | (8,099,088,264) | (8,099,088,264) |
NET CHANGE RESULTING FROM SELECT SHARE TRANSACTIONS | 745,483,512 | $745,495,434 | 7,324,903,974 | $7,324,911,585 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 180,086,920,529 | $180,086,956,684 | 211,827,888,435 | $211,827,933,531 |
Shares issued to shareholders in payment of distributions declared | 2,026,188 | 2,026,188 | 100,763,565 | 100,763,565 |
Shares redeemed | (178,841,202,810) | (178,841,202,810) | (205,668,413,479) | (205,668,413,479) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 1,247,743,907 | $1,247,780,062 | 6,260,238,521 | $6,260,283,617 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 33,550,470,325 | $33,550,489,325 | 36,354,238,413 | $36,354,238,413 |
Proceeds from shares issued in connection with the tax-free transfer of assets from the Acquired Fund | — | — | 2,688,133,493 | 2,688,133,493 |
Shares issued to shareholders in payment of distributions declared | 754,237 | 754,237 | 39,433,902 | 39,433,902 |
Shares redeemed | (32,693,627,797) | (32,693,627,797) | (37,031,159,296) | (37,031,201,151) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 857,596,765 | $857,615,765 | 2,050,646,512 | $2,050,604,657 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Administrative Shares: | Shares | Amount | Shares | Amount |
Shares sold | 154,066,827 | $154,066,827 | 444,342,022 | $444,342,022 |
Shares issued to shareholders in payment of distributions declared | 1,024 | 1,024 | — | — |
Shares redeemed | (407,828,140) | (407,828,140) | (366,802,489) | (366,806,281) |
NET CHANGE RESULTING FROM ADMINISTRATIVE SHARE TRANSACTIONS | (253,760,289) | $(253,760,289) | 77,539,533 | $77,535,741 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,108,325,759 | $1,108,326,840 | 1,277,635,750 | $1,277,635,750 |
Shares issued to shareholders in payment of distributions declared | 113,869 | 113,869 | 3,320,412 | 3,320,412 |
Shares redeemed | (1,082,683,108) | (1,082,683,108) | (1,215,819,655) | (1,215,819,814) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | 25,756,520 | $25,757,601 | 65,136,507 | $65,136,348 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,974,548,300 | $1,974,548,756 | 2,071,520,153 | $2,071,521,083 |
Shares issued to shareholders in payment of distributions declared | 68,051 | 68,051 | 1,437,519 | 1,437,519 |
Shares redeemed | (1,797,848,066) | (1,797,848,066) | (1,982,310,542) | (1,982,310,542) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 176,768,285 | $176,768,741 | 90,647,130 | $90,648,060 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 10,680,533,074 | $10,680,537,870 | 12,562,484,759 | $12,562,484,759 |
Proceeds from shares issued in connection with the tax-free transfer of assets from the Acquired Fund | — | — | 10 | 10 |
Shares issued to shareholders in payment of distributions declared | 395,798 | 395,798 | 19,279,895 | 19,279,895 |
Shares redeemed | (11,090,499,803) | (11,090,499,803) | (12,527,346,143) | (12,527,354,552) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (409,570,931) | $(409,566,135) | 54,418,521 | $54,410,112 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 5,919,821,773 | $5,919,827,230 | 5,695,640,892 | $5,695,640,892 |
Shares issued to shareholders in payment of distributions declared | 481,041 | 481,041 | 17,088,583 | 17,088,583 |
Shares redeemed | (6,565,038,268) | (6,565,038,268) | (4,881,858,835) | (4,881,869,051) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | (644,735,454) | $(644,729,997) | 830,870,640 | $830,860,424 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Premier Shares: | Shares | Amount | Shares | Amount |
Shares sold | 501,565,158,244 | $501,565,237,176 | 484,873,784,518 | $484,873,836,931 |
Shares issued to shareholders in payment of distributions declared | 8,814,730 | 8,814,730 | 224,762,856 | 224,762,856 |
Shares redeemed | (508,667,711,171) | (508,667,711,171) | (451,289,759,835) | (451,289,759,835) |
NET CHANGE RESULTING FROM PREMIER SHARE TRANSACTIONS | (7,093,738,197) | $(7,093,659,265) | 33,808,787,539 | $33,808,839,952 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Advisor Shares: | Shares | Amount | Shares | Amount |
Shares sold | 402,477,521 | $402,478,657 | 2,464,137,726 | $2,464,137,726 |
Shares issued to shareholders in payment of distributions declared | 244,343 | 244,343 | 6,353,283 | 6,353,283 |
Shares redeemed | (920,282,400) | (920,282,400) | (1,737,538,313) | (1,737,572,452) |
NET CHANGE RESULTING FROM ADVISOR SHARES TRANSACTIONS | (517,560,536) | $(517,559,400) | 732,952,696 | $732,918,557 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (5,866,016,418) | $(5,865,857,483) | 51,296,141,573 | $51,296,149,053 |
1 | Effective August 1, 2019, the Class R Shares were re-designated as Select Shares. |
2021 | 2020 | |
Ordinary income1 | $32,037,623 | $1,084,076,169 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed ordinary income2 | $2,844,912 |
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 | |
Administrative Shares | 0.25% |
Cash II Shares | 0.35% |
Cash Series Shares | 0.60% |
Trust Shares | 0.25% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Administrative Shares | $120,044 | $(99,367) |
Cash II Shares | 2,258,733 | (2,258,733) |
Cash Series Shares | 2,175,212 | (2,168,347) |
Trust Shares | 7,957,030 | (7,912,738) |
TOTAL | $12,511,019 | $(12,439,185) |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Select Shares | $1,000 | $1,000.10 | $20.30 |
Institutional Shares | $1,000 | $1,000.10 | $30.25 |
Service Shares | $1,000 | $1,000.10 | $40.30 |
Administrative Shares | $1,000 | $1,000.10 | $50.30 |
Cash II Shares | $1,000 | $1,000.10 | $60.30 |
Cash Series Shares | $1,000 | $1,000.10 | $70.25 |
Capital Shares | $1,000 | $1,000.10 | $80.25 |
Trust Shares | $1,000 | $1,000.10 | $90.30 |
Premier Shares | $1,000 | $1,000.10 | $100.25 |
Advisor Shares | $1,000 | $1,000.10 | $110.30 |
Hypothetical (assuming a 5% return before expenses): | |||
Select Shares | $1,000 | $1,024.50 | $20.30 |
Institutional Shares | $1,000 | $1,024.55 | $30.25 |
Service Shares | $1,000 | $1,024.50 | $40.30 |
Administrative Shares | $1,000 | $1,024.50 | $50.30 |
Cash II Shares | $1,000 | $1,024.50 | $60.30 |
Cash Series Shares | $1,000 | $1,024.55 | $70.25 |
Capital Shares | $1,000 | $1,024.55 | $80.25 |
Trust Shares | $1,000 | $1,024.50 | $90.30 |
Premier Shares | $1,000 | $1,024.55 | $100.25 |
Advisor Shares | $1,000 | $1,024.50 | $110.30 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Select Shares | 0.06% |
Institutional Shares | 0.05% |
Service Shares | 0.06% |
Administrative Shares | 0.06% |
Cash II Shares | 0.06% |
Cash Series Shares | 0.05% |
Capital Shares | 0.05% |
Trust Shares | 0.06% |
Premier Shares | 0.05% |
Advisor Shares | 0.06% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Select Shares current Fee Limit of 0.17% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.84 and $0.85, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Institutional Shares current Fee Limit of 0.20% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.99 and $1.00, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.45% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.23 and $2.26, respectively. |
5 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Administrative Shares current Fee Limit of 0.45% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.23 and $2.26, respectively. |
6 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash II Shares current Fee Limit of 0.85% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $4.22 and $4.27, respectively. |
7 | 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 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $5.21 and $5.27, respectively. |
8 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Capital Shares current Fee Limit of 0.30% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.49 and $1.51, respectively. |
9 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Trust Shares current Fee Limit of 0.70% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $3.47 and $3.51, respectively. |
10 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Premier Shares current Fee Limit of 0.15% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.74 and $0.75, respectively. |
11 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Advisor Shares current Fee Limit of 0.15% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.74 and $0.75, 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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Deborah A. Cunningham Birth Date: September 15, 1959 CHIEF INVESTMENT OFFICER Officer since: May 2004 Portfolio Manager since: January 1994 | Principal Occupations: Deborah A. Cunningham has been the Fund’s Portfolio Manager since January 1994. Ms. 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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N104
CUSIP 60934N807
CUSIP 608919395
CUSIP 608919676
CUSIP 608919684
CUSIP 608919809
CUSIP 60934N153
CUSIP 608919718
CUSIP 608919437
Share Class | Ticker | Automated | GOAXX | Institutional | GOTXX | Service | GTSXX |
Federated Hermes Government Obligations Tax-Managed Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
U.S. Treasury Securities | 69.1% |
U.S. Government Agency Securities | 34.4% |
Other Assets and Liabilities—Net2 | (3.5)% |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 26.9% |
8-30 Days | 31.4% |
31-90 Days | 36.2% |
91-180 Days | 6.4% |
181 Days or more | 2.6% |
Other Assets and Liabilities—Net2 | (3.5)% |
TOTAL | 100% |
Principal Amount | Value | ||
U.S. TREASURY—69.1% | |||
$150,000,000 | United States Treasury Bill, 0.015%, 8/26/2021 | $149,998,437 | |
150,000,000 | United States Treasury Bill, 0.020%, 9/14/2021 | 149,996,333 | |
150,000,000 | United States Treasury Bill, 0.025%, 9/9/2021 | 149,995,937 | |
20,000,000 | United States Treasury Bill, 0.035%, 11/4/2021 | 19,998,153 | |
150,000,000 | United States Treasury Bill, 0.040%, 9/30/2021 | 149,990,000 | |
50,000,000 | United States Treasury Bill, 0.040%, 10/14/2021 | 49,995,889 | |
250,000,000 | United States Treasury Bill, 0.045%, 9/7/2021 | 249,988,437 | |
300,000,000 | United States Treasury Bill, 0.045%, 9/21/2021 | 299,980,875 | |
100,000,000 | United States Treasury Bill, 0.050%, 11/16/2021 | 99,985,139 | |
50,000,000 | United States Treasury Bill, 0.050%, 11/30/2021 | 49,991,736 | |
50,000,000 | United States Treasury Bill, 0.050%, 1/27/2022 | 49,987,569 | |
25,000,000 | United States Treasury Bill, 0.075%, 7/14/2022 | 24,981,927 | |
13,000,000 | United States Treasury Bill, 0.140%, 10/7/2021 | 12,996,613 | |
202,000,000 | United States Treasury Bills, 0.011%—0.030%, 8/3/2021 | 201,999,839 | |
272,000,000 | United States Treasury Bills, 0.015%—0.040%, 8/5/2021 | 271,999,208 | |
275,000,000 | United States Treasury Bills, 0.015%—0.045%, 8/19/2021 | 274,994,187 | |
346,260,000 | United States Treasury Bills, 0.015%—0.045%, 8/31/2021 | 346,248,474 | |
170,000,000 | United States Treasury Bills, 0.015%—0.050%, 8/12/2021 | 169,998,167 | |
159,000,000 | United States Treasury Bills, 0.020%—0.035%, 9/2/2021 | 158,996,053 | |
415,000,000 | United States Treasury Bills, 0.020%—0.043%, 8/10/2021 | 414,997,650 | |
250,000,000 | United States Treasury Bills, 0.020%—0.045%, 9/28/2021 | 249,986,278 | |
360,000,000 | United States Treasury Bills, 0.023%—0.045%, 8/17/2021 | 359,993,100 | |
350,000,000 | United States Treasury Bills, 0.025%—0.050%, 8/24/2021 | 349,991,215 | |
40,000,000 | United States Treasury Bond, 8.000%, 11/15/2021 | 40,918,312 | |
35,000,000 | 1 | United States Treasury Floating Rate Notes, 0.080% (91-day T-Bill +0.029%), 8/3/2021 | 34,999,293 |
120,000,000 | 1 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 | 120,005,658 |
25,000,000 | 1 | United States Treasury Floating Rate Notes, 0.099% (91-day T-Bill +0.049%), 8/3/2021 | 25,000,000 |
35,000,000 | 1 | United States Treasury Floating Rate Notes, 0.105% (91-day T-Bill +0.055%), 8/3/2021 | 34,999,697 |
10,000,000 | 1 | United States Treasury Floating Rate Notes, 0.350% (91-day T-Bill +0.300%), 8/3/2021 | 10,000,000 |
10,000,000 | United States Treasury Note, 0.125%, 4/30/2022 | 10,003,243 | |
15,000,000 | United States Treasury Note, 1.250%, 10/31/2021 | 15,043,259 | |
25,000,000 | United States Treasury Note, 1.500%, 9/30/2021 | 25,059,587 |
Principal Amount | Value | ||
U.S. TREASURY—continued | |||
$12,000,000 | United States Treasury Note, 1.750%, 5/15/2022 | $12,158,424 | |
12,000,000 | United States Treasury Note, 1.875%, 5/31/2022 | 12,179,632 | |
10,000,000 | United States Treasury Note, 2.000%, 12/31/2021 | 10,079,367 | |
35,000,000 | United States Treasury Note, 2.375%, 3/15/2022 | 35,498,721 | |
18,737,000 | United States Treasury Note, 2.625%, 12/15/2021 | 18,911,230 | |
10,000,000 | United States Treasury Note, 2.750%, 8/15/2021 | 10,010,403 | |
10,000,000 | United States Treasury Note, 2.875%, 11/15/2021 | 10,081,174 | |
TOTAL U.S. TREASURY | 4,682,039,216 | ||
GOVERNMENT AGENCIES—34.4% | |||
210,000,000 | 2 | Federal Farm Credit System Discount Notes, 0.040%—0.130%, 9/9/2021 - 1/27/2022 | 209,959,941 |
46,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.075% (Secured Overnight Financing Rate +0.025%), 8/2/2021 - 8/5/2021 | 46,000,000 |
70,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.085% (Secured Overnight Financing Rate +0.035%), 8/2/2021 | 70,000,000 |
9,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.090% (Secured Overnight Financing Rate +0.040%), 8/2/2021 | 9,000,000 |
110,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.095% (Secured Overnight Financing Rate +0.045%), 8/2/2021 | 110,000,655 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.105% (Secured Overnight Financing Rate +0.055%), 8/2/2021 | 19,998,612 |
29,198,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.110% (Secured Overnight Financing Rate +0.060%), 8/2/2021 | 29,198,816 |
36,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.115% (Secured Overnight Financing Rate +0.065%), 8/2/2021 | 36,000,000 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.120% (Secured Overnight Financing Rate +0.070%), 8/2/2021 | 25,000,000 |
30,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.125% (Secured Overnight Financing Rate +0.075%), 8/2/2021 | 30,000,000 |
89,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.180% (Secured Overnight Financing Rate +0.130%), 8/2/2021 | 89,000,000 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.195% (Secured Overnight Financing Rate +0.145%), 8/2/2021 | 25,000,000 |
50,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.230% (Secured Overnight Financing Rate +0.180%), 8/2/2021 | 50,000,000 |
40,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 40,000,000 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.260% (Secured Overnight Financing Rate +0.210%), 8/2/2021 | 20,000,000 |
40,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.350% (Secured Overnight Financing Rate +0.300%), 8/2/2021 | 40,000,000 |
50,325,000 | Federal Farm Credit System, 0.090%—2.800%, 12/17/2021 - 4/8/2022 | 50,441,641 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES—continued | |||
$842,852,000 | 2 | Federal Home Loan Bank System Discount Notes, 0.010%—0.050%, 8/9/2021 - 11/19/2021 | $842,809,014 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.055% (Secured Overnight Financing Rate +0.005%), 8/2/2021 | 50,000,000 |
85,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.060% (Secured Overnight Financing Rate +0.010%), 8/2/2021 | 85,000,000 |
14,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.085% (Secured Overnight Financing Rate +0.035%), 8/2/2021 | 14,000,000 |
25,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.095% (Secured Overnight Financing Rate +0.045%), 8/2/2021 | 25,000,000 |
35,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.105% (Secured Overnight Financing Rate +0.055%), 8/2/2021 | 35,000,000 |
55,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.110% (Secured Overnight Financing Rate +0.060%), 8/2/2021 | 55,000,000 |
17,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.115% (Secured Overnight Financing Rate +0.065%), 8/2/2021 | 17,000,000 |
25,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.130% (Secured Overnight Financing Rate +0.080%), 8/2/2021 | 25,000,000 |
20,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.135% (Secured Overnight Financing Rate +0.085%), 8/2/2021 | 19,999,556 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.170% (Secured Overnight Financing Rate +0.120%), 8/2/2021 | 50,000,000 |
10,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.200% (Secured Overnight Financing Rate +0.150%), 8/2/2021 | 10,000,000 |
95,000,000 | Federal Home Loan Bank System, 0.030%—0.125%, 8/16/2021 - 11/29/2021 | 94,996,219 | |
106,000,000 | 2 | Tennessee Valley Authority Discount Notes, 0.035%—0.048%, 8/4/2021 | 105,999,621 |
TOTAL GOVERNMENT AGENCIES | 2,329,404,075 | ||
TOTAL INVESTMENT IN SECURITIES—103.5% (AT AMORTIZED COST)3 | 7,011,443,291 | ||
OTHER ASSETS AND LIABILITIES - NET—(3.5)%4 | (239,619,989) | ||
TOTAL NET ASSETS—100% | $6,771,823,302 |
Year Ended July 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.008 | 0.018 | 0.009 | 0.001 |
Net realized gain | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.008 | 0.018 | 0.009 | 0.001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.008) | (0.018) | (0.009) | (0.001) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.008) | (0.018) | (0.009) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.83% | 1.81% | 0.93% | 0.14% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.10% | 0.47%4 | 0.52%4 | 0.51%4 | 0.50%4 |
Net investment income | 0.02% | 0.84% | 1.79% | 0.93% | 0.14% |
Expense waiver/reimbursement5 | 0.52% | 0.15% | 0.09% | 0.09% | 0.11% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $141,092 | $154,561 | $182,939 | $176,028 | $177,555 |
Year Ended July 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.011 | 0.021 | 0.012 | 0.004 |
Net realized gain | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.011 | 0.021 | 0.012 | 0.004 |
Less Distributions: | |||||
Distributions from net investment income | (0.000) 1 | (0.011) | (0.021) | (0.012) | (0.004) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.011) | (0.021) | (0.012) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 1.10% | 2.13% | 1.23% | 0.44% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.10% | 0.20%4 | 0.20%4 | 0.20%4 | 0.20%4 |
Net investment income | 0.02% | 0.95% | 2.11% | 1.21% | 0.43% |
Expense waiver/reimbursement5 | 0.19% | 0.09% | 0.09% | 0.09% | 0.09% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $3,805,176 | $4,366,142 | $3,019,468 | $2,739,607 | $3,074,463 |
Year Ended July 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.009 | 0.019 | 0.010 | 0.002 |
Net realized gain | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.009 | 0.019 | 0.010 | 0.002 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.009) | (0.019) | (0.010) | (0.002) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.009) | (0.019) | (0.010) | (0.002) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.89% | 1.88% | 0.98% | 0.19% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.10% | 0.41%4 | 0.45%4 | 0.45%4 | 0.45%4 |
Net investment income | 0.02% | 0.86% | 1.86% | 0.96% | 0.20% |
Expense waiver/reimbursement5 | 0.43% | 0.13% | 0.09% | 0.09% | 0.09% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $2,825,555 | $2,950,794 | $2,698,641 | $2,651,637 | $3,010,073 |
July 31, 2021
Assets: | ||
Investment in securities, at amortized cost and fair value | $7,011,443,291 | |
Cash | 939,761 | |
Receivable for investments sold | 25,000,000 | |
Receivable for shares sold | 2,900,837 | |
Income receivable | 2,046,230 | |
TOTAL ASSETS | 7,042,330,119 | |
Liabilities: | ||
Payable for investments purchased | $269,980,682 | |
Payable for shares redeemed | 175,072 | |
Income distribution payable | 25,543 | |
Payable for investment adviser fee (Note 5) | 79,163 | |
Payable for administrative fee (Note 5) | 29,297 | |
Accrued expenses (Note 5) | 217,060 | |
TOTAL LIABILITIES | 270,506,817 | |
Net assets for 6,771,331,913 shares outstanding | $6,771,823,302 | |
Net Assets Consists of: | ||
Paid-in capital | $6,771,341,288 | |
Total distributable earnings | 482,014 | |
TOTAL NET ASSETS | $6,771,823,302 | |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | ||
Automated Shares: | ||
$141,091,536 ÷ 141,081,471 shares outstanding, no par value, unlimited shares authorized | $1.00 | |
Institutional Shares: | ||
$3,805,176,522 ÷ 3,804,896,510 shares outstanding, no par value, unlimited shares authorized | $1.00 | |
Service Shares: | ||
$2,825,555,244 ÷ 2,825,353,932 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2021
Investment Income: | |||
Interest | $8,890,892 | ||
Expenses: | |||
Investment adviser fee (Note 5) | $15,025,358 | ||
Administrative fee (Note 5) | 5,867,844 | ||
Custodian fees | 225,585 | ||
Transfer agent fees (Note 2) | 203,287 | ||
Directors’/Trustees’ fees (Note 5) | 37,001 | ||
Auditing fees | 22,760 | ||
Legal fees | 11,871 | ||
Other service fees (Notes 2 and 5) | 7,906,825 | ||
Portfolio accounting fees | 176,499 | ||
Share registration costs | 93,426 | ||
Printing and postage | 41,410 | ||
Miscellaneous (Note 5) | 93,264 | ||
TOTAL EXPENSES | 29,705,130 | ||
Waivers and Reimbursements: | |||
Waiver of investment adviser fee (Note 5) | $(14,015,158) | ||
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (7,998,252) | ||
TOTAL WAIVERS AND REIMBURSEMENTS | (22,013,410) | ||
Net expenses | 7,691,720 | ||
Net investment income | 1,199,172 | ||
Net realized gain on investments | 51,584 | ||
Change in net assets resulting from operations | $1,250,756 |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $1,199,172 | $64,924,651 |
Net realized gain | 51,584 | 402,347 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 1,250,756 | 65,326,998 |
Distributions to Shareholders: | ||
Automated Shares | (19,918) | (1,274,075) |
Institutional Shares | (618,743) | (39,051,506) |
Service Shares | (393,226) | (24,794,362) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (1,031,887) | (65,119,943) |
Share Transactions: | ||
Proceeds from sale of shares | 18,391,229,782 | 23,251,616,621 |
Net asset value of shares issued to shareholders in payment of distributions declared | 277,007 | 15,619,988 |
Cost of shares redeemed | (19,091,398,983) | (21,696,995,746) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (699,892,194) | 1,570,240,863 |
Change in net assets | (699,673,325) | 1,570,447,918 |
Net Assets: | ||
Beginning of period | 7,471,496,627 | 5,901,048,709 |
End of period | $6,771,823,302 | $7,471,496,627 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $133,741 | $(46,771) | $(83,445) |
Institutional Shares | 41,083 | — | — |
Service Shares | 28,463 | — | — |
TOTAL | $203,287 | $(46,771) | $(83,445) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $387,919 | $(1,891) | $(386,028) |
Service Shares | 7,518,906 | (93,608) | $(7,386,509) |
TOTAL | $7,906,825 | $(95,499) | $(7,772,537) |
Year Ended July 31 | 2021 | 2020 | ||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 235,508,877 | $235,508,877 | 267,957,829 | $267,957,829 |
Shares issued to shareholders in payment of distributions declared | 18,691 | 18,691 | 1,158,084 | 1,158,084 |
Shares redeemed | (249,001,474) | (249,001,474) | (297,498,230) | (297,498,230) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | (13,473,906) | $(13,473,906) | (28,382,317) | $(28,382,317) |
Year Ended July 31 | 2021 | 2020 | ||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 11,095,755,149 | $11,095,755,147 | 15,927,428,623 | $15,927,428,623 |
Shares issued to shareholders in payment of distributions declared | 233,374 | 233,374 | 12,644,697 | 12,644,697 |
Shares redeemed | (11,657,069,766) | (11,657,069,766) | (14,593,525,847) | (14,593,525,847) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (561,081,243) | $(561,081,245) | 1,346,547,473 | $1,346,547,473 |
Year Ended July 31 | 2021 | 2020 | ||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 7,059,965,758 | $7,059,965,758 | 7,056,230,169 | $7,056,230,169 |
Shares issued to shareholders in payment of distributions declared | 24,942 | 24,942 | 1,817,207 | 1,817,207 |
Shares redeemed | (7,185,327,743) | (7,185,327,743) | (6,805,971,668) | (6,805,971,669) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (125,337,043) | $(125,337,043) | 252,075,708 | $252,075,707 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (699,892,192) | $(699,892,194) | 1,570,240,864 | $1,570,240,863 |
2021 | 2020 | |
Ordinary income1 | $1,028,692 | $65,119,943 |
Long-term capital gains | $3,195 | $— |
Undistributed ordinary income2 | $482,014 |
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 |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Automated Shares | $1,000 | $1,000.00 | $20.25 |
Institutional Shares | $1,000 | $1,000.00 | $30.25 |
Service Shares | $1,000 | $1,000.00 | $40.25 |
Hypothetical (assuming a 5% return before expenses): | |||
Automated Shares | $ 1,000 | $ 1,024.55 | $20.25 |
Institutional Shares | $ 1,000 | $ 1,024.55 | $ 30.25 |
Service Shares | $ 1,000 | $ 1,024.55 | $40.25 |
Automated Shares | 0.05% |
Institutional Shares | 0.05% |
Service Shares | 0.05% |
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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N856
CUSIP 60934N849
Share Class | Ticker | Institutional | GOTXX |
Federated Hermes Government Obligations Tax-Managed Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
U.S. Treasury Securities | 69.1% |
U.S. Government Agency Securities | 34.4% |
Other Assets and Liabilities—Net2 | (3.5)% |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 26.9% |
8-30 Days | 31.4% |
31-90 Days | 36.2% |
91-180 Days | 6.4% |
181 Days or more | 2.6% |
Other Assets and Liabilities—Net2 | (3.5)% |
TOTAL | 100% |
Principal Amount | Value | ||
U.S. TREASURY—69.1% | |||
$150,000,000 | United States Treasury Bill, 0.015%, 8/26/2021 | $149,998,437 | |
150,000,000 | United States Treasury Bill, 0.020%, 9/14/2021 | 149,996,333 | |
150,000,000 | United States Treasury Bill, 0.025%, 9/9/2021 | 149,995,937 | |
20,000,000 | United States Treasury Bill, 0.035%, 11/4/2021 | 19,998,153 | |
150,000,000 | United States Treasury Bill, 0.040%, 9/30/2021 | 149,990,000 | |
50,000,000 | United States Treasury Bill, 0.040%, 10/14/2021 | 49,995,889 | |
250,000,000 | United States Treasury Bill, 0.045%, 9/7/2021 | 249,988,437 | |
300,000,000 | United States Treasury Bill, 0.045%, 9/21/2021 | 299,980,875 | |
100,000,000 | United States Treasury Bill, 0.050%, 11/16/2021 | 99,985,139 | |
50,000,000 | United States Treasury Bill, 0.050%, 11/30/2021 | 49,991,736 | |
50,000,000 | United States Treasury Bill, 0.050%, 1/27/2022 | 49,987,569 | |
25,000,000 | United States Treasury Bill, 0.075%, 7/14/2022 | 24,981,927 | |
13,000,000 | United States Treasury Bill, 0.140%, 10/7/2021 | 12,996,613 | |
202,000,000 | United States Treasury Bills, 0.011%—0.030%, 8/3/2021 | 201,999,839 | |
272,000,000 | United States Treasury Bills, 0.015%—0.040%, 8/5/2021 | 271,999,208 | |
275,000,000 | United States Treasury Bills, 0.015%—0.045%, 8/19/2021 | 274,994,187 | |
346,260,000 | United States Treasury Bills, 0.015%—0.045%, 8/31/2021 | 346,248,474 | |
170,000,000 | United States Treasury Bills, 0.015%—0.050%, 8/12/2021 | 169,998,167 | |
159,000,000 | United States Treasury Bills, 0.020%—0.035%, 9/2/2021 | 158,996,053 | |
415,000,000 | United States Treasury Bills, 0.020%—0.043%, 8/10/2021 | 414,997,650 | |
250,000,000 | United States Treasury Bills, 0.020%—0.045%, 9/28/2021 | 249,986,278 | |
360,000,000 | United States Treasury Bills, 0.023%—0.045%, 8/17/2021 | 359,993,100 | |
350,000,000 | United States Treasury Bills, 0.025%—0.050%, 8/24/2021 | 349,991,215 | |
40,000,000 | United States Treasury Bond, 8.000%, 11/15/2021 | 40,918,312 | |
35,000,000 | 1 | United States Treasury Floating Rate Notes, 0.080% (91-day T-Bill +0.029%), 8/3/2021 | 34,999,293 |
120,000,000 | 1 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 | 120,005,658 |
25,000,000 | 1 | United States Treasury Floating Rate Notes, 0.099% (91-day T-Bill +0.049%), 8/3/2021 | 25,000,000 |
35,000,000 | 1 | United States Treasury Floating Rate Notes, 0.105% (91-day T-Bill +0.055%), 8/3/2021 | 34,999,697 |
10,000,000 | 1 | United States Treasury Floating Rate Notes, 0.350% (91-day T-Bill +0.300%), 8/3/2021 | 10,000,000 |
10,000,000 | United States Treasury Note, 0.125%, 4/30/2022 | 10,003,243 | |
15,000,000 | United States Treasury Note, 1.250%, 10/31/2021 | 15,043,259 | |
25,000,000 | United States Treasury Note, 1.500%, 9/30/2021 | 25,059,587 |
Principal Amount | Value | ||
U.S. TREASURY—continued | |||
$12,000,000 | United States Treasury Note, 1.750%, 5/15/2022 | $12,158,424 | |
12,000,000 | United States Treasury Note, 1.875%, 5/31/2022 | 12,179,632 | |
10,000,000 | United States Treasury Note, 2.000%, 12/31/2021 | 10,079,367 | |
35,000,000 | United States Treasury Note, 2.375%, 3/15/2022 | 35,498,721 | |
18,737,000 | United States Treasury Note, 2.625%, 12/15/2021 | 18,911,230 | |
10,000,000 | United States Treasury Note, 2.750%, 8/15/2021 | 10,010,403 | |
10,000,000 | United States Treasury Note, 2.875%, 11/15/2021 | 10,081,174 | |
TOTAL U.S. TREASURY | 4,682,039,216 | ||
GOVERNMENT AGENCIES—34.4% | |||
210,000,000 | 2 | Federal Farm Credit System Discount Notes, 0.040%—0.130%, 9/9/2021 - 1/27/2022 | 209,959,941 |
46,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.075% (Secured Overnight Financing Rate +0.025%), 8/2/2021 - 8/5/2021 | 46,000,000 |
70,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.085% (Secured Overnight Financing Rate +0.035%), 8/2/2021 | 70,000,000 |
9,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.090% (Secured Overnight Financing Rate +0.040%), 8/2/2021 | 9,000,000 |
110,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.095% (Secured Overnight Financing Rate +0.045%), 8/2/2021 | 110,000,655 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.105% (Secured Overnight Financing Rate +0.055%), 8/2/2021 | 19,998,612 |
29,198,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.110% (Secured Overnight Financing Rate +0.060%), 8/2/2021 | 29,198,816 |
36,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.115% (Secured Overnight Financing Rate +0.065%), 8/2/2021 | 36,000,000 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.120% (Secured Overnight Financing Rate +0.070%), 8/2/2021 | 25,000,000 |
30,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.125% (Secured Overnight Financing Rate +0.075%), 8/2/2021 | 30,000,000 |
89,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.180% (Secured Overnight Financing Rate +0.130%), 8/2/2021 | 89,000,000 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.195% (Secured Overnight Financing Rate +0.145%), 8/2/2021 | 25,000,000 |
50,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.230% (Secured Overnight Financing Rate +0.180%), 8/2/2021 | 50,000,000 |
40,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 40,000,000 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.260% (Secured Overnight Financing Rate +0.210%), 8/2/2021 | 20,000,000 |
40,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 0.350% (Secured Overnight Financing Rate +0.300%), 8/2/2021 | 40,000,000 |
50,325,000 | Federal Farm Credit System, 0.090%—2.800%, 12/17/2021 - 4/8/2022 | 50,441,641 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES—continued | |||
$842,852,000 | 2 | Federal Home Loan Bank System Discount Notes, 0.010%—0.050%, 8/9/2021 - 11/19/2021 | $842,809,014 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.055% (Secured Overnight Financing Rate +0.005%), 8/2/2021 | 50,000,000 |
85,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.060% (Secured Overnight Financing Rate +0.010%), 8/2/2021 | 85,000,000 |
14,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.085% (Secured Overnight Financing Rate +0.035%), 8/2/2021 | 14,000,000 |
25,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.095% (Secured Overnight Financing Rate +0.045%), 8/2/2021 | 25,000,000 |
35,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.105% (Secured Overnight Financing Rate +0.055%), 8/2/2021 | 35,000,000 |
55,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.110% (Secured Overnight Financing Rate +0.060%), 8/2/2021 | 55,000,000 |
17,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.115% (Secured Overnight Financing Rate +0.065%), 8/2/2021 | 17,000,000 |
25,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.130% (Secured Overnight Financing Rate +0.080%), 8/2/2021 | 25,000,000 |
20,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.135% (Secured Overnight Financing Rate +0.085%), 8/2/2021 | 19,999,556 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.170% (Secured Overnight Financing Rate +0.120%), 8/2/2021 | 50,000,000 |
10,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 0.200% (Secured Overnight Financing Rate +0.150%), 8/2/2021 | 10,000,000 |
95,000,000 | Federal Home Loan Bank System, 0.030%—0.125%, 8/16/2021 - 11/29/2021 | 94,996,219 | |
106,000,000 | 2 | Tennessee Valley Authority Discount Notes, 0.035%—0.048%, 8/4/2021 | 105,999,621 |
TOTAL GOVERNMENT AGENCIES | 2,329,404,075 | ||
TOTAL INVESTMENT IN SECURITIES—103.5% (AT AMORTIZED COST)3 | 7,011,443,291 | ||
OTHER ASSETS AND LIABILITIES - NET—(3.5)%4 | (239,619,989) | ||
TOTAL NET ASSETS—100% | $6,771,823,302 |
Year Ended July 31 | 2021 | 2020 | 2019 | 2018 | 2017 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.011 | 0.021 | 0.012 | 0.004 |
Net realized gain | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.011 | 0.021 | 0.012 | 0.004 |
Less Distributions: | |||||
Distributions from net investment income | (0.000) 1 | (0.011) | (0.021) | (0.012) | (0.004) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.011) | (0.021) | (0.012) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 1.10% | 2.13% | 1.23% | 0.44% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.10% | 0.20%4 | 0.20%4 | 0.20%4 | 0.20%4 |
Net investment income | 0.02% | 0.95% | 2.11% | 1.21% | 0.43% |
Expense waiver/reimbursement5 | 0.19% | 0.09% | 0.09% | 0.09% | 0.09% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $3,805,176 | $4,366,142 | $3,019,468 | $2,739,607 | $3,074,463 |
July 31, 2021
Assets: | ||
Investment in securities, at amortized cost and fair value | $7,011,443,291 | |
Cash | 939,761 | |
Receivable for investments sold | 25,000,000 | |
Receivable for shares sold | 2,900,837 | |
Income receivable | 2,046,230 | |
TOTAL ASSETS | 7,042,330,119 | |
Liabilities: | ||
Payable for investments purchased | $269,980,682 | |
Payable for shares redeemed | 175,072 | |
Income distribution payable | 25,543 | |
Payable for investment adviser fee (Note 5) | 79,163 | |
Payable for administrative fee (Note 5) | 29,297 | |
Accrued expenses (Note 5) | 217,060 | |
TOTAL LIABILITIES | 270,506,817 | |
Net assets for 6,771,331,913 shares outstanding | $6,771,823,302 | |
Net Assets Consists of: | ||
Paid-in capital | $6,771,341,288 | |
Total distributable earnings | 482,014 | |
TOTAL NET ASSETS | $6,771,823,302 | |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | ||
Automated Shares: | ||
$141,091,536 ÷ 141,081,471 shares outstanding, no par value, unlimited shares authorized | $1.00 | |
Institutional Shares: | ||
$3,805,176,522 ÷ 3,804,896,510 shares outstanding, no par value, unlimited shares authorized | $1.00 | |
Service Shares: | ||
$2,825,555,244 ÷ 2,825,353,932 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2021
Investment Income: | |||
Interest | $8,890,892 | ||
Expenses: | |||
Investment adviser fee (Note 5) | $15,025,358 | ||
Administrative fee (Note 5) | 5,867,844 | ||
Custodian fees | 225,585 | ||
Transfer agent fees (Note 2) | 203,287 | ||
Directors’/Trustees’ fees (Note 5) | 37,001 | ||
Auditing fees | 22,760 | ||
Legal fees | 11,871 | ||
Other service fees (Notes 2 and 5) | 7,906,825 | ||
Portfolio accounting fees | 176,499 | ||
Share registration costs | 93,426 | ||
Printing and postage | 41,410 | ||
Miscellaneous (Note 5) | 93,264 | ||
TOTAL EXPENSES | 29,705,130 | ||
Waivers and Reimbursements: | |||
Waiver of investment adviser fee (Note 5) | $(14,015,158) | ||
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (7,998,252) | ||
TOTAL WAIVERS AND REIMBURSEMENTS | (22,013,410) | ||
Net expenses | 7,691,720 | ||
Net investment income | 1,199,172 | ||
Net realized gain on investments | 51,584 | ||
Change in net assets resulting from operations | $1,250,756 |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $1,199,172 | $64,924,651 |
Net realized gain | 51,584 | 402,347 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 1,250,756 | 65,326,998 |
Distributions to Shareholders: | ||
Automated Shares | (19,918) | (1,274,075) |
Institutional Shares | (618,743) | (39,051,506) |
Service Shares | (393,226) | (24,794,362) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (1,031,887) | (65,119,943) |
Share Transactions: | ||
Proceeds from sale of shares | 18,391,229,782 | 23,251,616,621 |
Net asset value of shares issued to shareholders in payment of distributions declared | 277,007 | 15,619,988 |
Cost of shares redeemed | (19,091,398,983) | (21,696,995,746) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (699,892,194) | 1,570,240,863 |
Change in net assets | (699,673,325) | 1,570,447,918 |
Net Assets: | ||
Beginning of period | 7,471,496,627 | 5,901,048,709 |
End of period | $6,771,823,302 | $7,471,496,627 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $133,741 | $(46,771) | $(83,445) |
Institutional Shares | 41,083 | — | — |
Service Shares | 28,463 | — | — |
TOTAL | $203,287 | $(46,771) | $(83,445) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $387,919 | $(1,891) | $(386,028) |
Service Shares | 7,518,906 | (93,608) | $(7,386,509) |
TOTAL | $7,906,825 | $(95,499) | $(7,772,537) |
Year Ended July 31 | 2021 | 2020 | ||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 235,508,877 | $235,508,877 | 267,957,829 | $267,957,829 |
Shares issued to shareholders in payment of distributions declared | 18,691 | 18,691 | 1,158,084 | 1,158,084 |
Shares redeemed | (249,001,474) | (249,001,474) | (297,498,230) | (297,498,230) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | (13,473,906) | $(13,473,906) | (28,382,317) | $(28,382,317) |
Year Ended July 31 | 2021 | 2020 | ||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 11,095,755,149 | $11,095,755,147 | 15,927,428,623 | $15,927,428,623 |
Shares issued to shareholders in payment of distributions declared | 233,374 | 233,374 | 12,644,697 | 12,644,697 |
Shares redeemed | (11,657,069,766) | (11,657,069,766) | (14,593,525,847) | (14,593,525,847) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (561,081,243) | $(561,081,245) | 1,346,547,473 | $1,346,547,473 |
Year Ended July 31 | 2021 | 2020 | ||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 7,059,965,758 | $7,059,965,758 | 7,056,230,169 | $7,056,230,169 |
Shares issued to shareholders in payment of distributions declared | 24,942 | 24,942 | 1,817,207 | 1,817,207 |
Shares redeemed | (7,185,327,743) | (7,185,327,743) | (6,805,971,668) | (6,805,971,669) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (125,337,043) | $(125,337,043) | 252,075,708 | $252,075,707 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (699,892,192) | $(699,892,194) | 1,570,240,864 | $1,570,240,863 |
2021 | 2020 | |
Ordinary income1 | $1,028,692 | $65,119,943 |
Long-term capital gains | $3,195 | $— |
Undistributed ordinary income2 | $482,014 |
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 |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual: | $1,000 | $ 1,000.00 | $ 20.25 |
Hypothetical (assuming a 5% return before expenses): | $1,000 | $ 1,024.55 | $20.25 |
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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
Share Class | Ticker | Institutional | MMPXX | Service | MMSXX | Capital | MMLXX |
Eagle | MMMXX |
Federated Hermes Institutional Money Market Management
A Portfolio of Federated Hermes Money Market Obligations Trust
The Share Price will fluctuate. It is possible to lose money by investing in the Fund.
Security Type | Percentage of Total Net Assets |
Commercial Paper | 47.6% |
Other Repurchase Agreements and Repurchase Agreements | 33.1% |
Certificates of Deposit | 10.0% |
Time Deposit | 5.0% |
Variable Instruments | 4.3% |
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 | 248.3% |
8-30 Days | 12.9% |
31-90 Days | 21.3% |
91-180 Days | 6.7% |
181 Days or more | 10.8% |
Other Assets and Liabilities—Net3,4 | (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 | Overnight securities comprised 25.0% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
4 | Represents less than 0.1%. |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— 47.6% | ||
Finance - Banking— 24.5% | |||
$13,500,000 | Bank of Nova Scotia, Toronto, 0.200% - 0.231%, 5/5/2022 - 7/6/2022 | $13,478,347 | |
15,000,000 | BPCE SA, 0.140%, 8/3/2021 | 14,999,883 | |
35,000,000 | DNB Bank ASA, 0.060% - 0.080%, 8/4/2021 - 9/2/2021 | 34,998,206 | |
15,000,000 | National Australia Bank Ltd., Melbourne, 0.090%, 9/7/2021 | 14,998,613 | |
52,000,000 | Nationwide Building Society, 0.090%, 8/9/2021 - 8/24/2021 | 51,998,520 | |
15,000,000 | Nordea Bank Abp, 0.105% - 0.110%, 10/13/2021 - 10/20/2021 | 14,996,687 | |
15,000,000 | NRW.Bank, 0.075%, 9/13/2021 - 9/16/2021 | 14,998,625 | |
3,000,000 | Royal Bank of Canada, 0.210%, 7/12/2022 | 2,993,523 | |
25,000,000 | Royal Bank of Canada, New York Branch, 0.210% - 0.281%, 11/19/2021 - 6/21/2022 | 24,976,563 | |
18,500,000 | Sumitomo Mitsui Trust Bank Ltd., 0.135% - 0.140%, 8/10/2021 - 8/20/2021 | 18,498,967 | |
7,500,000 | Svenska Handelsbanken, Stockholm, 0.140%, 11/17/2021 | 7,497,708 | |
40,500,000 | Toronto Dominion Bank, 0.210% - 0.251%, 4/20/2022 - 6/23/2022 | 40,448,807 | |
TOTAL | 254,884,449 | ||
Finance - Commercial— 4.4% | |||
45,809,000 | Atlantic Asset Securitization LLC, 0.100% - 0.110%, 8/17/2021 - 10/21/2021 | 45,800,208 | |
Finance - Retail— 8.7% | |||
13,600,000 | Barton Capital S.A., 0.100%, 8/25/2021 | 13,599,093 | |
2,500,000 | CAFCO, LLC, 0.160%, 11/15/2021 | 2,499,055 | |
20,000,000 | Chariot Funding LLC, 0.080%, 9/10/2021 - 9/13/2021 | 19,998,156 | |
10,000,000 | Fairway Finance Co. LLC, 0.145%, 1/5/2022 | 9,993,552 | |
10,000,000 | Old Line Funding, LLC, 0.110%, 10/12/2021 | 9,997,842 | |
10,000,000 | Old Line Funding, LLC, 0.130%, 9/13/2021 | 9,998,447 | |
1,500,000 | Old Line Funding, LLC, 0.160%, 2/1/2022 | 1,498,823 | |
7,500,000 | Old Line Funding, LLC, 0.200%, 9/27/2021 | 7,497,625 | |
15,000,000 | Thunder Bay Funding, LLC, 0.190%, 10/4/2021 | 14,997,470 | |
TOTAL | 90,080,063 | ||
Finance - Securities— 1.3% | |||
3,500,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(ING Bank N.V. COL)/(Societe Generale, Paris COL), 0.200%, 10/15/2021 | 3,501,377 | |
10,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(ING Bank N.V. COL)/(Societe Generale, Paris COL), 0.280%, 8/2/2021 | 10,000,000 | |
TOTAL | 13,501,377 |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Oil & Oil Finance— 3.4% | |||
$35,000,000 | Total Capital Canada Ltd., 0.115%, 8/19/2021 | $34,997,987 | |
Sovereign— 5.3% | |||
30,000,000 | BNG Bank N.V., 0.070% - 0.090%, 8/2/2021 - 8/6/2021 | 29,999,817 | |
5,000,000 | FMS Wertmanagement AoR, 0.110%, 10/29/2021 | 4,998,724 | |
20,000,000 | Nederlandse Waterschapsbank NV, 0.110%, 11/9/2021 | 19,993,313 | |
TOTAL | 54,991,854 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $494,216,139) | 494,255,938 | ||
CERTIFICATES OF DEPOSIT— 10.0% | |||
Finance - Banking— 10.0% | |||
29,000,000 | Bank of Montreal, 0.210% - 0.240%, 3/3/2022 - 7/26/2022 | 29,011,520 | |
5,000,000 | Bank of Nova Scotia, Toronto, 0.290%, 12/10/2021 | 5,003,505 | |
20,000,000 | Canadian Imperial Bank of Commerce, 0.240% - 0.270%, 9/29/2021 - 4/6/2022 | 20,008,815 | |
20,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.110%, 10/7/2021 - 10/29/2021 | 20,000,092 | |
15,000,000 | Mizuho Bank Ltd., 0.090% - 0.100%, 9/2/2021 - 9/17/2021 | 15,000,000 | |
5,000,000 | Royal Bank of Canada, 0.210%, 3/9/2022 | 5,002,030 | |
10,000,000 | Sumitomo Mitsui Trust Bank Ltd., 0.070% - 0.080%, 8/3/2021 - 9/23/2021 | 9,999,999 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $103,999,999) | 104,025,961 | ||
TIME DEPOSIT— 5.0% | |||
Finance - Banking— 5.0% | |||
52,000,000 | ABN Amro Bank NV, 0.090%, 8/4/2021 (IDENTIFIED COST $52,000,000) | 52,000,000 | |
2 | NOTES - VARIABLE— 4.3% | ||
Finance - Banking— 4.3% | |||
7,500,000 | Bank of Nova Scotia, Toronto, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 7,503,928 | |
5,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.320% (Effective Fed Funds +0.220%), 8/2/2021 | 5,000,000 | |
15,000,000 | Canadian Imperial Bank of Commerce, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 15,007,921 | |
10,000,000 | Royal Bank of Canada, New York Branch, 0.280% (Secured Overnight Financing Rate +0.230%), 8/2/2021 | 10,005,051 | |
7,500,000 | Toronto Dominion Bank, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 7,503,719 | |
TOTAL NOTES - VARIABLE (IDENTIFIED COST $44,999,997) | 45,020,619 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— 19.6% | |||
Finance - Banking— 19.6% | |||
$10,000,000 | BMO Capital Markets Corp., 0.20%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,002,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $153,198,037 have been received as collateral and held with BNY Mellon as tri-party agent. | $10,000,000 | |
50,000,000 | BofA Securities, Inc., 0.14%, dated 7/30/2021, interest in a $213,000,000 collateralized loan agreement will repurchase securities provided as collateral for $213,002,485 on 8/2/2021, in which corporate bonds and medium-term notes with a market value of $217,263,379 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
50,000,000 | Credit Agricole S.A., 0.15%, dated 7/29/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,013,750 on 8/5/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $561,007,598 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
20,000,000 | ING Financial Markets LLC, 0.16%, dated 7/30/2021, interest in a $75,000,000 collateralized loan agreement will repurchase securities provided as collateral for $75,001,000 on 8/2/2021, in which common stocks with a market value of $76,501,222 have been received as collateral and held with BNY Mellon as tri-party agent. | 20,000,000 | |
25,000,000 | J.P. Morgan Securities LLC, 0.27%, dated 7/27/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,010,500 on 8/3/2021, in which corporate bonds and medium-term notes with market value of $204,000,017 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
25,000,000 | J.P. Morgan Securities LLC, 0.33%, dated 7/20/2021, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,071,042 on 8/20/2021, in which corporate bonds with market value of $255,000,000 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
24,000,000 | Societe Generale, Paris, 0.23%, dated 7/30/2021, interest in a $650,000,000 collateralized loan agreement will repurchase securities provided as collateral for $650,012,458 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,012,713 have been received as collateral and held with BNY Mellon as tri-party agent. | 24,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $204,000,000) | 204,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— 13.5% | |||
Finance - Banking— 13.5% | |||
$60,484,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,013,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 6/1/2051 and the market value of those underlying securities was $3,060,014,025. | $60,484,000 | |
80,000,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,013,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2050 and the market value of those underlying securities was $3,060,014,952. | 80,000,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $140,484,000) | 140,484,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.0% (IDENTIFIED COST $1,039,700,135)3 | 1,039,786,518 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.0)%4 | (25,525) | ||
TOTAL NET ASSETS—100% | $1,039,760,993 |
1 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
2 | Floating/variable note with current rate and current maturity or next reset date shown. |
3 | Also represents cost for federal tax purposes. |
4 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
GTD | —Guaranteed |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0000 | $0.9998 | $0.9997 | $1.0001 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income | 0.0006 | 0.0141 | 0.0238 | 0.0157 | 0.0067 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0002 | 0.0001 | (0.0004) | 0.0001 |
Total From Investment Operations | 0.0004 | 0.0143 | 0.0239 | 0.0153 | 0.0068 |
Less Distributions: | |||||
Distributions from net investment income | (0.0006) | (0.0141) | (0.0238) | (0.0157) | (0.0067) |
Distributions from net realized gain | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0006) | (0.0141) | (0.0238) | (0.0157) | (0.0067) |
Net Asset Value, End of Period | $0.9998 | $1.0000 | $0.9998 | $0.9997 | $1.0001 |
Total Return2 | 0.04% | 1.44% | 2.42% | 1.54% | 0.68% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.15% | 0.15% | 0.15% | 0.15% | 0.15% |
Net investment income | 0.07% | 1.20% | 2.39% | 1.47% | 0.43% |
Expense waiver/reimbursement4 | 0.17% | 0.21% | 1.02% | 0.81% | 0.18% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,033,664 | $1,353,697 | $66,410 | $34,986 | $59,661 |
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. |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $0.9999 | $0.9997 | $0.9997 | $1.0001 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.0115 | 0.0213 | 0.0133 | 0.0043 |
Net realized and unrealized gain (loss) | (0.0001) | 0.0003 | 0.00001 | (0.0005) | 0.00001 |
Total From Investment Operations | 0.00001 | 0.0118 | 0.0213 | 0.0128 | 0.0043 |
Less Distributions: | |||||
Distributions from net investment income | (0.0001) | (0.0116) | (0.0213) | (0.0132) | (0.0042) |
Distributions from net realized gain | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0001) | (0.0116) | (0.0213) | (0.0132) | (0.0042) |
Net Asset Value, End of Period | $0.9998 | $0.9999 | $0.9997 | $0.9997 | $1.0001 |
Total Return2 | 0.00%3 | 1.18% | 2.15% | 1.28% | 0.43% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.20% | 0.40% | 0.40% | 0.40% | 0.40% |
Net investment income | 0.01% | 0.98% | 2.16% | 1.25% | 0.18% |
Expense waiver/reimbursement5 | 0.38% | 0.27% | 1.02% | 0.85% | 0.16% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,138 | $781 | $560 | $499 | $1,017 |
1 | Represents less than $0.0001. |
2 | Based on net asset value. |
3 | Represents less than 0.01%. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0000 | $0.9998 | $0.9997 | $1.0001 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income | 0.0002 | 0.0131 | 0.0228 | 0.0147 | 0.0058 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0002 | 0.0001 | (0.0004) | (0.0000)1 |
Total From Investment Operations | 0.00001 | 0.0133 | 0.0229 | 0.0143 | 0.0058 |
Less Distributions: | |||||
Distributions from net investment income | (0.0002) | (0.0131) | (0.0228) | (0.0147) | (0.0057) |
Distributions from net realized gain | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0002) | (0.0131) | (0.0228) | (0.0147) | (0.0057) |
Net Asset Value, End of Period | $0.9998 | $1.0000 | $0.9998 | $0.9997 | $1.0001 |
Total Return2 | 0.00%3 | 1.33% | 2.32% | 1.44% | 0.58% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.20% | 0.25% | 0.25% | 0.25% | 0.25% |
Net investment income | 0.02% | 1.31% | 2.28% | 1.44% | 0.28% |
Expense waiver/reimbursement5 | 0.23% | 0.28% | 1.04% | 0.86% | 0.21% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $178 | $181 | $178 | $174 | $172 |
1 | Represents less than $0.0001. |
2 | Based on net asset value. |
3 | Represents less than 0.01%. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0000 | $0.9998 | $0.9997 | $1.0001 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.0122 | 0.0218 | 0.0137 | 0.0044 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0001 | 0.0001 | (0.0004) | 0.0001 |
Total From Investment Operations | (0.0001) | 0.0123 | 0.0219 | 0.0133 | 0.0045 |
Less Distributions: | |||||
Distributions from net investment income | (0.0001) | (0.0121) | (0.0218) | (0.0137) | (0.0044) |
Distributions from net realized gain | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0001) | (0.0121) | (0.0218) | (0.0137) | (0.0044) |
Net Asset Value, End of Period | $0.9998 | $1.0000 | $0.9998 | $0.9997 | $1.0001 |
Total Return2 | (0.01)% | 1.23% | 2.21% | 1.33% | 0.46% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.20% | 0.35% | 0.35% | 0.35% | 0.38% |
Net investment income | 0.01% | 1.21% | 2.18% | 1.32% | 0.43% |
Expense waiver/reimbursement4 | 0.37% | 0.29% | 1.04% | 0.85% | 0.34% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $4,781 | $4,918 | $5,216 | $6,275 | $7,418 |
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. |
July 31, 2021
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $344,484,000 |
Investment in securities | 695,302,518 |
Investment in securities, at value (identified cost $1,039,700,135) | 1,039,786,518 |
Cash | 12,760 |
Income receivable | 97,335 |
Receivable for shares sold | 70,000 |
Total Assets | 1,039,966,613 |
Liabilities: | |
Payable for shares redeemed | 35,000 |
Income distribution payable | 8,707 |
Payable for investment adviser fee (Note 5) | 2,015 |
Payable for administrative fee (Note 5) | 4,449 |
Payable for custodian fees | 16,514 |
Payable for transfer agent fees | 28,408 |
Payable for auditing fees | 20,300 |
Payable for legal fees | 4,477 |
Payable for portfolio accounting fees | 53,690 |
Payable for share registration costs | 24,469 |
Accrued expenses (Note 5) | 7,591 |
Total Liabilities | 205,620 |
Net assets for 1,039,948,579 shares outstanding | $1,039,760,993 |
Net Assets Consist of: | |
Paid-in capital | $1,039,672,586 |
Total distributable earnings (loss) | 88,407 |
Total Net Assets | $1,039,760,993 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share | |
Institutional Shares: | |
$1,033,664,099 ÷ 1,033,850,558 shares outstanding, no par value, unlimited shares authorized | $0.9998 |
Service Shares: | |
$1,137,909 ÷ 1,138,184 shares outstanding, no par value, unlimited shares authorized | $0.9998 |
Capital Shares: | |
$178,225 ÷ 178,259 shares outstanding, no par value, unlimited shares authorized | $0.9998 |
Eagle Shares: | |
$4,780,760 ÷ 4,781,578 shares outstanding, no par value, unlimited shares authorized | $0.9998 |
Year Ended July 31, 2021
Investment Income: | |
Interest | $2,515,258 |
Expenses: | |
Investment adviser fee (Note 5) | 2,289,857 |
Administrative fee (Note 5) | 894,424 |
Custodian fees | 41,673 |
Transfer agent fees | 169,357 |
Directors’/Trustees’ fees (Note 5) | 6,363 |
Auditing fees | 20,301 |
Legal fees | 11,903 |
Portfolio accounting fees | 155,853 |
Other service fees (Notes 2 and 5) | 15,479 |
Share registration costs | 52,919 |
Printing and postage | 21,358 |
Miscellaneous (Note 5) | 66,247 |
TOTAL EXPENSES | 3,745,734 |
Waivers and Reimbursement: | |
Waiver of investment adviser fee (Note 5) | (1,976,887) |
Waivers/reimbursement of other operating expenses (Notes 2 and 5) | (12,319) |
TOTAL WAIVERS AND REIMBURSEMENT | (1,989,206) |
Net expenses | 1,756,528 |
Net investment income | 758,730 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments | 630 |
Net change in unrealized appreciation of investments | (301,143) |
Net realized and unrealized gain (loss) on investments | (300,513) |
Change in net assets resulting from operations | $458,217 |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $758,730 | $12,016,460 |
Net realized gain (loss) | 630 | 6,355 |
Net change in unrealized appreciation/depreciation | (301,143) | 378,862 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 458,217 | 12,401,677 |
Distributions to Shareholders: | ||
Institutional Shares | (760,505) | (11,947,993) |
Service Shares | (129) | (7,006) |
Capital Shares | (36) | (2,342) |
Eagle Shares | (439) | (61,757) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (761,109) | (12,019,098) |
Share Transactions: | ||
Proceeds from sale of shares | 549,730,962 | 2,983,313,898 |
Net asset value of shares issued to shareholders in payment of distributions declared | 99,962 | 1,094,942 |
Cost of shares redeemed | (869,343,957) | (1,697,579,154) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (319,513,033) | 1,286,829,686 |
Change in net assets | (319,815,925) | 1,287,212,265 |
Net Assets: | ||
Beginning of period | 1,359,576,918 | 72,364,653 |
End of period | $1,039,760,993 | $1,359,576,918 |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $3,113 | $(233) | $(2,338) |
Capital Shares | 179 | — | (102) |
Eagle Shares | 12,187 | (145) | (9,501) |
TOTAL | $15,479 | $(378) | $(11,941) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 540,618,930 | $540,592,436 | 2,976,223,560 | $2,976,145,999 |
Shares issued to shareholders in payment of distributions declared | 99,498 | 99,485 | 1,032,305 | 1,032,261 |
Shares redeemed | (860,513,380) | (860,423,549) | (1,690,036,166) | (1,690,272,234) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (319,794,952) | $(319,731,628) | 1,287,219,699 | $1,286,906,026 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 8,490,909 | $8,488,527 | 6,641,289 | $6,639,763 |
Shares issued to shareholders in payment of distributions declared | 4 | 4 | 230 | 230 |
Shares redeemed | (8,133,990) | (8,131,632) | (6,420,362) | (6,418,747) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 356,923 | $356,899 | 221,157 | $221,246 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | — | $— |
Shares issued to shareholders in payment of distributions declared | 36 | 36 | 2,342 | 2,342 |
Shares redeemed | (2,451) | (2,451) | — | — |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (2,415) | $(2,415) | 2,342 | $2,342 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Eagle Shares: | Shares | Amount | Shares | Amount |
Shares sold | 650,122 | $649,999 | 528,231 | $528,136 |
Shares issued to shareholders in payment of distributions declared | 437 | 437 | 60,119 | 60,109 |
Shares redeemed | (786,474) | (786,325) | (888,245) | (888,173) |
NET CHANGE RESULTING FROM EAGLE SHARE TRANSACTIONS | (135,915) | $(135,889) | (299,895) | $(299,928) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (319,576,359) | $(319,513,033) | 1,287,143,303 | $1,286,829,686 |
2021 | 2020 | |
Ordinary income1 | $761,109 | $12,019,098 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed ordinary income2 | $2,024 |
Net unrealized appreciation | $86,383 |
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 |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,000.10 | $0.74 |
Service Shares | $1,000 | $1,000.20 | $20.79 |
Capital Shares | $1,000 | $1,000.10 | $30.79 |
Eagle Shares | $1,000 | $1,000.00 | $40.79 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,024.05 | $0.75 |
Service Shares | $1,000 | $1,024.00 | $20.80 |
Capital Shares | $1,000 | $1,024.00 | $30.80 |
Eagle Shares | $1,000 | $1,024.00 | $40.80 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Institutional Shares | 0.15% |
Service Shares | 0.16% |
Capital Shares | 0.16% |
Eagle Shares | 0.16% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.40% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.98 and $2.01, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Capital Shares current Fee Limit of 0.25% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.24 and $1.25, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Eagle Shares current Fee Limit of 0.40% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.98 and $2.01, 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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 608919742
CUSIP 608919759
CUSIP 60934N211
Share Class | Ticker | Automated | PTAXX | R | PTRXX | Wealth | PCOXX |
Advisor | PCVXX | Service | PRCXX | Cash II | PCDXX | |
Cash Series | PTSXX | Capital | PCCXX | Trust | PTTXX |
Federated Hermes Prime Cash Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
beneficially owned by natural persons.
Security Type | Percentage of Total Net Assets |
Commercial Paper | 40.0% |
Bank Instruments | 31.4% |
Other Repurchase Agreements and Repurchase Agreements | 15.7% |
Variable Rate Instruments | 3.6% |
U.S. Treasury Securities | 0.3% |
Municipal Bond | 0.0% |
Cash Equivalent2 | 7.8% |
Other Assets and Liabilities—Net3 | 1.2% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for more complete information regarding these security types. With respect to this table, Commercial Paper includes commercial paper with interest rates that are fixed or that reset periodically. |
2 | Cash Equivalents include any investments in money market mutual funds. |
3 | 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 Days2 | 43.3% |
8-30 Days | 10.4% |
31-90 Days | 27.8% |
91-180 Days | 10.1% |
181 Days or more | 7.2% |
Other Assets and Liabilities—Net3 | 1.2% |
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 | Overnight securities comprised 11.5% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount or Shares | Value | ||
1 | COMMERCIAL PAPER— 40.0% | ||
Aerospace/Auto— 0.3% | |||
$ 65,000,000 | Toyota Credit Canada, Inc., (Toyota Motor Corp. SA), 0.160%, 11/10/2021 | $64,970,822 | |
Finance - Banking— 15.0% | |||
94,839,000 | Albion Capital LLC, (MUFG Bank Ltd. LIQ), 0.160%, 8/16/2021 | 94,832,677 | |
150,000,000 | Alpine Securitization LLC, (Credit Suisse AG LIQ), 0.160%, 11/30/2021 | 150,000,000 | |
230,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.110% - 0.281%, 9/7/2021 - 4/12/2022 | 229,792,312 | |
225,000,000 | BPCE SA, 0.140%, 8/3/2021 | 224,998,250 | |
256,000,000 | DNB Bank ASA, 0.080%, 8/30/2021 | 255,983,502 | |
50,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.150%, 1/20/2022 | 49,964,166 | |
140,000,000 | Gotham Funding Corp., (MUFG Bank Ltd. LIQ), 0.080% - 0.110%, 9/2/2021 - 11/4/2021 | 139,969,655 | |
50,000,000 | ING (U.S.) Funding LLC, 0.110%, 8/19/2021 | 49,997,250 | |
71,000,000 | Manhattan Asset Funding Company LLC, (Sumitomo Mitsui Banking Corp. LIQ), 0.080%, 9/2/2021 | 70,994,951 | |
300,000,000 | Matchpoint Finance PLC, (BNP Paribas SA LIQ), 0.080% - 0.120%, 9/15/2021 - 10/19/2021 | 299,939,665 | |
100,000,000 | Nationwide Building Society, 0.100%, 8/9/2021 | 99,997,778 | |
226,000,000 | Nordea Bank Abp, 0.110% - 0.120%, 10/13/2021 - 11/22/2021 | 225,934,537 | |
125,000,000 | Royal Bank of Canada, 0.210% - 0.241%, 4/14/2022 - 6/21/2022 | 124,772,916 | |
50,000,000 | Royal Bank of Canada, New York Branch, 0.241%, 3/18/2022 | 49,923,666 | |
150,000,000 | 2 | Royal Bank of Canada, New York Branch, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 150,000,000 |
110,000,000 | 2 | Royal Bank of Canada, New York Branch, 0.310% (Effective Fed Funds +0.210%), 8/2/2021 | 110,000,000 |
75,000,000 | Sumitomo Mitsui Banking Corp., 0.120%, 10/25/2021 | 74,978,750 | |
50,000,000 | Sumitomo Mitsui Trust Bank Ltd., 0.120%, 11/2/2021 | 50,000,000 | |
369,000,000 | Toronto Dominion Bank, 0.200% - 0.251%, 4/20/2022 - 7/7/2022 | 368,319,131 | |
50,000,000 | Westpac Banking Corp. Ltd., Sydney, 0.231%, 3/11/2022 | 49,929,083 | |
TOTAL | 2,870,328,289 | ||
Finance - Commercial— 2.9% | |||
145,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.130%, 12/15/2021 | 145,000,000 | |
25,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.130%, 12/7/2021 | 25,000,000 | |
90,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/10/2022 | 90,000,000 |
Principal Amount or Shares | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Finance - Commercial— continued | |||
$ 100,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/10/2022 | $100,000,000 | |
125,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/20/2022 | 125,000,000 | |
75,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.200%, 10/18/2021 | 75,000,000 | |
TOTAL | 560,000,000 | ||
Finance - Retail— 8.8% | |||
230,500,000 | Chariot Funding LLC, 0.070% - 0.110%, 8/16/2021 - 10/19/2021 | 230,474,953 | |
50,000,000 | Old Line Funding, LLC, 0.100%, 2/3/2022 | 49,959,111 | |
47,000,000 | Old Line Funding, LLC, 0.120%, 9/24/2021 | 46,991,540 | |
100,000,000 | Old Line Funding, LLC, 0.150%, 8/3/2021 | 99,999,167 | |
20,000,000 | Old Line Funding, LLC, 0.150%, 1/24/2022 | 19,985,333 | |
70,000,000 | Old Line Funding, LLC, 0.190%, 9/13/2021 | 69,984,113 | |
681,108,000 | Sheffield Receivables Company LLC, 0.080% - 0.160%, 8/9/2021 - 10/21/2021 | 681,011,357 | |
285,200,000 | Starbird Funding Corp., 0.080% - 0.140%, 8/2/2021 - 10/22/2021 | 285,158,888 | |
85,000,000 | Thunder Bay Funding, LLC, 0.100%, 9/20/2021 | 84,988,194 | |
50,000,000 | Thunder Bay Funding, LLC, 0.190%, 9/13/2021 | 49,988,653 | |
55,000,000 | Thunder Bay Funding, LLC, 0.200%, 10/7/2021 | 54,979,528 | |
TOTAL | 1,673,520,837 | ||
Finance - Securities— 10.7% | |||
50,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.150%, 1/4/2022 | 50,000,000 | |
797,000,000 | Anglesea Funding LLC, 0.080% - 0.200%, 8/2/2021 - 11/15/2021 | 796,843,330 | |
166,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 0.080%, 8/2/2021 | 165,999,631 | |
50,000,000 | Chesham Finance LLC Series VII, (Citibank N.A., New York COL), 0.160%, 8/17/2021 | 49,996,444 | |
218,000,000 | Collateralized Commercial Paper FLEX Co., LLC, 0.100% - 0.180%, 8/2/2021 - 8/24/2021 | 217,990,486 | |
517,700,000 | Collateralized Commercial Paper V Co. LLC, 0.160% - 0.220%, 8/2/2021 - 1/18/2022 | 517,518,825 | |
236,500,000 | Longship Funding LLC, 0.080% - 0.115%, 9/10/2021 - 9/22/2021 | 236,470,525 | |
TOTAL | 2,034,819,241 | ||
Oil & Oil Finance— 0.3% | |||
50,000,000 | Exxon Mobil Corp., 0.180%, 9/7/2021 | 49,990,750 | |
Sovereign— 2.0% | |||
10,000,000 | BNG Bank N.V., 0.070%, 8/6/2021 | 9,999,903 | |
231,750,000 | Erste Abwicklungsanstalt, 0.080% - 0.110%, 9/2/2021 - 11/1/2021 | 231,711,102 |
Principal Amount or Shares | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Sovereign— continued | |||
$ 130,000,000 | Nederlandse Waterschapsbank NV, 0.110%, 10/29/2021 | $129,964,646 | |
TOTAL | 371,675,651 | ||
TOTAL COMMERCIAL PAPER | 7,625,305,590 | ||
CERTIFICATES OF DEPOSIT— 24.0% | |||
Finance - Banking— 24.0% | |||
400,000,000 | Bank of Montreal, 0.210% - 0.240%, 3/3/2022 - 7/26/2022 | 400,000,000 | |
100,000,000 | 2 | Bank of Montreal, 0.290% (Secured Overnight Financing Rate +0.240%), 8/2/2021 | 100,000,000 |
276,000,000 | Bank of Nova Scotia, Toronto, 0.220% - 0.250%, 10/7/2021 - 5/17/2022 | 276,000,000 | |
205,000,000 | 2 | Bank of Nova Scotia, Toronto, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 205,000,000 |
500,000,000 | Canadian Imperial Bank of Commerce, 0.180% - 0.270%, 9/1/2021 - 1/4/2022 | 500,000,000 | |
100,000,000 | 2 | Canadian Imperial Bank of Commerce, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 100,000,000 |
150,000,000 | 2 | Canadian Imperial Bank of Commerce, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 150,000,000 |
250,000,000 | Credit Agricole Corporate and Investment Bank, 0.080%, 8/4/2021 | 250,000,000 | |
125,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.110%, 10/22/2021 | 125,000,000 | |
680,000,000 | Mizuho Bank Ltd., 0.100% - 0.150%, 8/6/2021 - 9/2/2021 | 680,000,000 | |
50,000,000 | Royal Bank of Canada, 0.210%, 3/9/2022 | 50,000,000 | |
300,000,000 | Sumitomo Mitsui Banking Corp., 0.110% - 0.120%, 10/1/2021 - 10/15/2021 | 300,000,000 | |
100,000,000 | Sumitomo Mitsui Banking Corp., 0.130%, 10/18/2021 | 99,971,843 | |
904,625,000 | Sumitomo Mitsui Trust Bank Ltd., 0.070% - 0.150%, 8/4/2021 - 10/22/2021 | 904,621,765 | |
400,000,000 | Toronto Dominion Bank, 0.240% - 0.260%, 10/4/2021 - 4/29/2022 | 400,000,000 | |
45,000,000 | 2 | Toronto Dominion Bank, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 44,999,988 |
TOTAL CERTIFICATES OF DEPOSIT | 4,585,593,596 | ||
TIME DEPOSITS— 7.4% | |||
Finance - Banking— 7.4% | |||
955,000,000 | ABN Amro Bank NV, 0.090%, 8/3/2021 - 8/6/2021 | 955,000,000 | |
150,000,000 | Australia & New Zealand Banking Group, Melbourne, 0.080%, 8/4/2021 | 150,000,000 | |
150,000,000 | Cooperatieve Rabobank UA, 0.050%, 8/2/2021 | 150,000,000 | |
150,000,000 | DNB Bank ASA, 0.040%, 8/2/2021 | 150,000,000 | |
TOTAL TIME DEPOSITS | 1,405,000,000 |
Principal Amount or Shares | Value | ||
2 | NOTES - VARIABLE— 3.6% | ||
Finance - Banking— 1.8% | |||
$ 100,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.300% (Effective Fed Funds +0.200%), 8/3/2021 | $100,000,000 | |
95,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.320% (Effective Fed Funds +0.220%), 8/2/2021 | 95,000,000 | |
6,725,000 | Fiore Capital LLC, (Wells Fargo Bank, N.A. LOC), 0.120%, 8/5/2021 | 6,725,000 | |
1,615,000 | Gadsden, AL Airport Authority, Series 2004, (Wells Fargo Bank, N.A. LOC), 0.140%, 8/5/2021 | 1,615,000 | |
595,000 | Montgomery, AL IDB, (Wells Fargo Bank, N.A. LOC), 0.270%, 8/5/2021 | 595,000 | |
19,670,000 | Osprey Properties Limited Partnership, LLP & Nighthawk Properties, LLC, Series 2008, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 19,670,000 | |
29,435,000 | Panel Rey S.A., Series 2016, (Citibank N.A., New York LOC), 0.120%, 8/5/2021 | 29,435,000 | |
35,000,000 | Royal Bank of Canada, New York Branch, 0.280% (Secured Overnight Financing Rate +0.230%), 8/2/2021 | 35,000,000 | |
1,955,000 | Spira Millennium LLC, Series 2001, (Bank of America N.A. LOC), 0.100%, 8/5/2021 | 1,955,000 | |
15,000,000 | SSAB AB (publ), Series 2015-A, (DNB Bank ASA LOC), 0.120%, 8/5/2021 | 15,000,000 | |
430,000 | Sun Valley, Inc., (Wells Fargo Bank, N.A. LOC), 0.140%, 8/6/2021 | 430,000 | |
20,559,285 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.410%, 8/2/2021 | 20,559,285 | |
18,290,000 | Triborough Bridge & Tunnel Authority, NY, (Taxable Series E) Weekly VRDNs, (Bank of America N.A. LOC), 0.080%, 8/5/2021 | 18,290,000 | |
TOTAL | 344,274,285 | ||
Government Agency— 1.8% | |||
5,915,000 | 1320 W Jefferson LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 5,915,000 | |
4,925,000 | Andrew Long Irrevocable Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,925,000 | |
1,700,000 | Archer 1 LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 1,700,000 | |
2,100,000 | BWF Forge TL Properties Owner LLC, (FHLB of Des Moines LOC)/(FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 2,100,000 | |
1,830,000 | CMR LLC, CMR LLC Project Series 2017, (FHLB of Indianapolis LOC), 0.200%, 8/5/2021 | 1,830,000 | |
6,230,000 | Dennis Wesley Company, Inc., The Dennis Wesley Company, Inc. Project, (FHLB of Indianapolis LOC), 0.120%, 8/5/2021 | 6,230,000 | |
6,130,000 | Frank Dale Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,130,000 | |
8,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 8,000,000 |
Principal Amount or Shares | Value | ||
2 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 4,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-B, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | $4,000,000 | |
6,740,000 | Mason Harrison Ratliff Enterprises, LLC, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,740,000 | |
30,200,000 | Mike P. Sturdivant, Sr. Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 30,200,000 | |
25,622,500 | Naples SI, LLC, (FHLB of Indianapolis LOC), 0.130%, 8/5/2021 | 25,622,500 | |
35,960,000 | Park Stanton Place LP, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 35,960,000 | |
6,650,000 | Phenix City, AL Downtown Redevelopment Authority, Series 2013-A, (FHLB of New York LOC), 0.120%, 8/5/2021 | 6,650,000 | |
21,000,000 | Pittsburg Fox Creek Associates L.P., Series 2011-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 21,000,000 | |
5,410,000 | Public Finance Authority, Series 2015-A Ram Eufaula Hospitality, LLC, (FHLB of New York LOC), 0.140%, 8/5/2021 | 5,410,000 | |
6,000,000 | Riverview Project, Series 2021, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 6,000,000 | |
13,150,000 | Rohnert Park 668, L.P., (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 13,150,000 | |
7,600,000 | Sandy Jacobs Irrevocable Insurance Trust, Series 2019, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 7,600,000 | |
22,065,000 | Sendra Family Irrevocable Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 22,065,000 | |
11,260,000 | Shawn R. Trapuzzano Irrevocable Insurance Trust, (FHLB of Pittsburgh LOC), 0.120%, 8/5/2021 | 11,260,000 | |
4,860,000 | Spingola Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,860,000 | |
7,680,000 | The J.G. Aguirre Master Trust, (FHLB of Atlanta LOC), 0.120%, 8/5/2021 | 7,680,000 | |
23,765,000 | The Jacob Rosenstein Irrevocable Life Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 23,765,000 | |
4,150,000 | The Mary Jane Beauregard Irrevocable Insurance Trust of 2017, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,150,000 | |
4,710,000 | The Mulberry Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,710,000 | |
20,330,000 | The Murray D. Berry Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 20,330,000 | |
20,945,000 | The Ray L. Berry Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 20,945,000 | |
16,400,000 | Wingo Family Master Trust, (FHLB of Des Moines LOC), 0.150%, 8/5/2021 | 16,400,000 | |
TOTAL | 335,327,500 | ||
TOTAL NOTES - VARIABLE | 679,601,785 |
Principal Amount or Shares | Value | ||
U.S. TREASURY— 0.3% | |||
U.S. Treasury Notes— 0.3% | |||
$ 50,000,000 | 2 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 | $50,007,074 |
MUNICIPAL BOND— 0.0% | |||
Municipal— 0.0% | |||
10,000,000 | Alabama State Public School & College Authority, (Series 2020B), 0.253%, 9/1/2021 | 10,000,000 | |
OTHER REPURCHASE AGREEMENTS— 14.1% | |||
Finance - Banking— 14.1% | |||
25,000,000 | BMO Capital Markets Corp., 0.18%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $102,567,276 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
90,000,000 | BMO Capital Markets Corp., 0.20%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,002,500 on 8/2/2021, in which asset-backed securities, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $153,198,037 have been received as collateral and held with BNY Mellon as tri-party agent. | 90,000,000 | |
100,000,000 | BMO Capital Markets Corp., 0.25%, dated 2/8/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,259,904 on 1/10/2022, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $204,307,157 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
20,000,000 | BMO Capital Markets Corp., 0.30%, dated 7/30/2021, interest in a $20,000,000 collateralized loan agreement will repurchase securities provided as collateral for $20,000,500 on 8/2/2021, in which asset-backed securities, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $20,403,188 have been received as collateral and held with BNY Mellon as tri-party agent. | 20,000,000 | |
15,000,000 | BNP Paribas S.A. 0.18%, dated 7/30/2021, interest in a $50,000,000 collateralized loan agreement will repurchase securities provided as collateral for $50,000,750 on 8/2/2021, in which asset-backed securities and Sovereign debt securities with a market value of $51,000,765 have been received as collateral and held with BNY Mellon as tri-party agent. | 15,000,000 | |
25,000,000 | Citigroup Global Markets, Inc., 0.42%, dated 5/19/2021, interest in a $25,000,000 collateralized loan agreement will repurchase securities provided as collateral for $25,052,500 on 11/15/2021, in which Sovereign debt securities with a market value of $25,669,619 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 50,000,000 | Citigroup Global Markets, Inc., 0.47%, dated 5/19/2021, interest in a $50,000,000 collateralized loan agreement will repurchase securities provided as collateral for $50,117,845 on 11/15/2021, in which collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $51,022,183 have been received as collateral and held with BNY Mellon as tri-party agent. | $50,000,000 | |
250,000,000 | Credit Agricole S.A., 0.15%, dated 7/29/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,013,750 on 8/5/2021, in which assets-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $561,007,598.have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
90,000,000 | Credit Agricole S.A., agreement 0.22%, dated 7/29/2021, interest in a $170,000,000 collateralized loan agreement will repurchase securities provided as collateral for $170,006,233 on 8/5/2021, in which assets-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $173,403,197 have been received as collateral and held with BNY Mellon as tri-party agent. | 90,000,000 | |
50,000,000 | Credit Suisse Securities (USA) LLC, 0.20%, dated 7/27/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,003,889 on 8/3/2021, in which asset-backed securities and collateralized mortgage obligations with a market value of $102,003,400 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
25,000,000 | HSBC Securities (USA), Inc., 0.18%, dated 7/30/2021, interest in a $25,000,000 collateralized loan agreement will repurchase securities provided as collateral for $25,000,375 on 8/2/2021, in which asset-backed securities with a market value of $25,500,234 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
95,000,000 | J.P. Morgan Securities LLC, 0.27%, dated 7/27/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,010,500 on 8/3/2021, in which corporate bonds and medium-term notes with a market value of $204,000,017 have been received as collateral and held with BNY Mellon as tri-party agent. | 95,000,000 | |
110,000,000 | J.P. Morgan Securities LLC, 0.33%, dated 7/20/2021, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,071,042 on 8/20/2021, in which corporate bonds with a market value of $255,000,000 have been received as collateral and held with BNY Mellon as tri-party agent. | 110,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 75,000,000 | Mizuho Securities USA, Inc., 0.28%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,003,500 on 8/2/2021, in which common stocks with a market value of $153,003,589 have been received as collateral and held with BNY Mellon as tri-party agent. | $75,000,000 | |
100,000,000 | Mizuho Securities USA, Inc., 0.45%, dated 9/4/2020, interest in a $120,000,000 collateralized loan agreement will repurchase securities provided as collateral for $120,090,000 on 10/1/2021 in which collateralized mortgage obligations, commercial paper and municipal bonds with a market value of $122,452,225 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
225,000,000 | MUFG Securities Americas, Inc., 0.23%, dated 7/30/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,010,542 on 8/2/2021, in which American depositary receipts, common stocks, convertible bonds, exchange traded funds and unit investment trust with a market value of $561,010,753 have been received as collateral and held with BNY Mellon as tri-party agent. | 225,000,000 | |
150,000,000 | Pershing LLC, 0.33%, dated 10/30/2020, interest in a $300,000,000 collateralized loan agreement will repurchase securities provided as collateral for $300,019,250 on 8/10/2021, in which asset-backed securities, collateralized mortgage obligations, common stocks, convertible bonds, corporate bonds, exchange-traded funds, medium-term notes and municipal bonds with a market value of $306,037,843 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
225,000,000 | Societe Generale, Paris, 0.14%, dated 7/30/2021, interest in a $350,000,000 collateralized loan agreement will repurchase securities provided as collateral for $350,004,083 on 8/2/2021, in which asset-backed securities, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $357,004,182 have been received as collateral and held with BNY Mellon as tri-party agent. | 225,000,000 | |
320,000,000 | Societe Generale, Paris, 0.23%, dated 7/30/2021, interest in a $650,000,000 collateralized loan agreement will repurchase securities provided as collateral for $650,012,458 on 8/2/2021, in which asset-backed securities, corporate bonds, collateralized mortgage obligations, medium-term notes and Sovereign debt securities with a market value of $663,012,713 have been received as collateral and held with BNY Mellon as tri-party agent. | 320,000,000 | |
50,000,000 | Standard Chartered Bank, 0.16%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,333 on 8/2/2021, in which U.S. treasury bills, U.S. treasury notes and U.S. Treasury bonds with a market value of $102,009,823 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 120,000,000 | Wells Fargo Securities LLC, 0.57%, dated 6/1/2020, interest in a $120,000,000 collateralized loan agreement will repurchase securities provided as collateral for $120,171,000 on 10/5/2021, in which convertible bonds with a market value of $122,450,756 have been received as collateral and held with BNY Mellon as tri-party agent. | $120,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 0.54%, dated 7/2/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,202,500 on 9/30/2021 in which convertible bonds with a market value of $153,071,204 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 0.59%, dated 5/20/2020, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,221,250 on 10/18/2021 in which convertible bonds with a market value of $153,032,633 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
175,000,000 | Wells Fargo Securities LLC, 0.58%, dated 4/27/2021, interest in a $175,000,000 collateralized loan agreement will repurchase securities provided as collateral for $175,253,750 on 10/20/2021, in which convertible bonds with a market value of $178,532,607 have been received as collateral and held with BNY Mellon as tri-party agent. | 175,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS | 2,685,000,000 | ||
REPURCHASE AGREEMENT— 1.6% | |||
Finance - Banking— 1.6% | |||
311,850,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,013,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 6/1/2051 and the market value of those underlying securities was $3,060,014,025. | 311,850,000 | |
INVESTMENT COMPANIES— 7.8% | |||
1,000,000,000 | Federated Hermes Institutional Money Market Management, Institutional Shares, 0.01%3 | 999,713,001 | |
500,267,549 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 0.02%3 | 500,267,526 | |
TOTAL INVESTMENT COMPANIES | 1,499,980,527 | ||
TOTAL INVESTMENT IN SECURITIES—98.8% (AT AMORTIZED COST)4 | 18,852,338,572 | ||
OTHER ASSETS AND LIABILITIES - NET—1.2%5 | 227,285,516 | ||
TOTAL NET ASSETS—100% | $19,079,624,088 |
Federated Hermes Institutional Money Market Management, Institutional Shares | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | Total of Affiliated Transactions | |
Value as of 7/31/2020 | $999,713,000 | $500,267,520 | $1,499,980,520 |
Purchases at Cost | $5,000 | $5,003 | $10,003 |
Proceeds from Sales | $(5,000) | $(5,003) | $(10,003) |
Change in Unrealized Appreciation/ Depreciation | N/A | $— | $— |
Net Realized Gain/(Loss) | $1 | $6 | $7 |
Value as of 7/31/2021 | $999,713,001 | $500,267,526 | $1,499,980,527 |
Shares Held as of 7/31/2021 | 1,000,000,000 | 500,267,549 | 1,500,267,549 |
Dividend Income | $615,278 | $412,230 | $1,027,508 |
1 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
2 | Floating/variable note with current rate and current maturity or next reset date shown. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
3 | 7-day net yield. |
4 | Also represents cost of investments for federal tax purposes. |
5 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following is a summary of the inputs used, as of July 31, 2021, in valuing the Fund’s assets carried at fair value:
Valuation Inputs | ||||
Level 1— Quoted Prices | Level 2— Other Significant Observable Inputs | Level 3— Significant Unobservable Inputs | Total | |
Debt Securities: | ||||
Commercial Paper | $— | $7,625,305,590 | $— | $7,625,305,590 |
Certificates Of Deposit | — | 4,585,593,596 | — | 4,585,593,596 |
Time Deposits | — | 1,405,000,000 | — | 1,405,000,000 |
Notes - Variable | — | 679,601,785 | — | 679,601,785 |
U.S. Treasury | — | 50,007,074 | — | 50,007,074 |
Municipal Bond | — | 10,000,000 | — | 10,000,000 |
Other Repurchase Agreements | — | 2,685,000,000 | — | 2,685,000,000 |
Repurchase Agreements | — | 311,850,000 | — | 311,850,000 |
Investment Company | 1,499,980,527 | — | — | 1,499,980,527 |
TOTAL SECURITIES | $1,499,980,527 | $17,352,358,045 | $— | $18,852,338,572 |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
FHLB | —Federal Home Loan Bank | |
GTD | —Guaranteed | |
IDB | —Industrial Development Bond | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.010 | 0.020 | 0.012 | 0.005 |
Net realized gain (loss) | 0.0001 | 0.0001 | (0.000)1 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.010 | 0.020 | 0.012 | 0.005 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.010) | (0.020) | (0.012) | (0.005) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.010) | (0.020) | (0.012) | (0.005) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 1.01% | 2.03% | 1.22% | 0.45% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.23% | 0.53% | 0.54% | 0.51% | 0.51% |
Net investment income | 0.01% | 1.01% | 2.06% | 1.21% | 0.37% |
Expense waiver/reimbursement4 | 0.41% | 0.11% | 0.10% | 0.13% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,034,830 | $1,603,414 | $1,678,950 | $376,107 | $346,013 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.006 | 0.014 | 0.006 | 0.0001 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.006 | 0.014 | 0.006 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.006) | (0.014) | (0.006) | (0.000)1 |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.006) | (0.014) | (0.006) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.56% | 1.42% | 0.58% | 0.04% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.23% | 0.97% | 1.13% | 1.15% | 0.82% |
Net investment income | 0.01% | 0.54% | 1.42% | 0.56% | 0.02% |
Expense waiver/reimbursement4 | 1.09% | 0.32% | 0.16% | 0.18% | 0.51% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $38,762 | $48,615 | $44,257 | $42,390 | $51,059 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.013 | 0.023 | 0.015 | 0.008 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.013 | 0.023 | 0.015 | 0.008 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.013) | (0.023) | (0.015) | (0.008) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.013) | (0.023) | (0.015) | (0.008) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.04% | 1.33% | 2.36% | 1.53% | 0.75% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% |
Net investment income | 0.04% | 1.33% | 2.36% | 1.56% | 0.71% |
Expense waiver/reimbursement4 | 0.10% | 0.10% | 0.10% | 0.13% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $11,788,470 | $18,814,127 | $16,862,096 | $5,770,600 | $2,868,583 |
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 | 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 July 31, | Period Ended 7/31/20191 | ||
2021 | 2020 | ||
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||
Net investment income | 0.0002 | 0.013 | 0.013 |
Net realized gain (loss) | 0.0002 | 0.0002 | — |
Total From Investment Operations | 0.0002 | 0.013 | 0.013 |
Less Distributions: | |||
Distributions from net investment income | (0.000)2 | (0.013) | (0.013) |
Distributions from net realized gains | (0.000)2 | (0.000)2 | — |
Total Distributions | (0.000)2 | (0.013) | (0.013) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 |
Total Return3 | 0.04% | 1.33% | 1.31% |
Ratios to Average Net Assets: | |||
Net expenses4 | 0.20% | 0.20% | 0.20%5 |
Net investment income | 0.04% | 1.32% | 2.39%5 |
Expense waiver/reimbursement6 | 0.10% | 0.10% | 0.10%5 |
Supplemental Data: | |||
Net assets, end of period (000 omitted) | $187,921 | $376,278 | $276,284 |
1 | Reflects operations for the period from January 18, 2019 (date of initial investment) to July 31, 2019. |
2 | Represents less than $0.001. |
3 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | Computed on an annualized basis. |
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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.011 | 0.021 | 0.013 | 0.005 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.011 | 0.021 | 0.013 | 0.005 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.011) | (0.021) | (0.013) | (0.005) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.011) | (0.021) | (0.013) | (0.005) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 1.09% | 2.10% | 1.28% | 0.50% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.23% | 0.45% | 0.45% | 0.45% | 0.45% |
Net investment income | 0.01% | 1.06% | 2.09% | 1.31% | 0.47% |
Expense waiver/reimbursement4 | 0.32% | 0.10% | 0.10% | 0.13% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,711,361 | $3,016,273 | $2,757,262 | $1,799,914 | $1,215,338 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.007 | 0.016 | 0.008 | 0.002 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.007 | 0.016 | 0.008 | 0.002 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.007) | (0.016) | (0.008) | (0.002) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.007) | (0.016) | (0.008) | (0.002) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.72% | 1.65% | 0.83% | 0.16% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.22% | 0.81% | 0.90% | 0.90% | 0.79% |
Net investment income | 0.01% | 0.71% | 1.64% | 0.80% | 0.16% |
Expense waiver/reimbursement4 | 0.78% | 0.19% | 0.10% | 0.13% | 0.24% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,275,933 | $1,125,251 | $1,043,702 | $998,683 | $1,196,268 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.006 | 0.015 | 0.007 | 0.001 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.006 | 0.015 | 0.007 | 0.001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.006) | (0.015) | (0.007) | (0.001) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.006) | (0.015) | (0.007) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.62% | 1.51% | 0.72% | 0.08% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.22% | 0.92% | 1.03% | 1.00% | 0.70% |
Net investment income | 0.01% | 0.63% | 1.49% | 0.72% | 0.02% |
Expense waiver/reimbursement4 | 1.03% | 0.34% | 0.21% | 0.23% | 0.57% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $42,076 | $33,265 | $32,789 | $29,911 | $28,365 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.012 | 0.022 | 0.013 | 0.007 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | 0.001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.012 | 0.022 | 0.014 | 0.007 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.012) | (0.022) | (0.014) | (0.007) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.012) | (0.022) | (0.014) | (0.007) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 1.23% | 2.26% | 1.43% | 0.65% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.23% | 0.30% | 0.30% | 0.30% | 0.30% |
Net investment income | 0.01% | 1.20% | 2.25% | 1.46% | 0.45% |
Expense waiver/reimbursement4 | 0.18% | 0.10% | 0.10% | 0.13% | 0.12% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $329,279 | $548,708 | $670,114 | $398,852 | $203,594 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.009 | 0.018 | 0.010 | 0.003 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.009 | 0.018 | 0.010 | 0.003 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.009) | (0.018) | (0.010) | (0.003) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.009) | (0.018) | (0.010) | (0.003) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.87% | 1.85% | 1.02% | 0.29% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.23% | 0.66% | 0.70% | 0.70% | 0.63% |
Net investment income | 0.01% | 0.86% | 1.90% | 1.03% | 0.15% |
Expense waiver/reimbursement4 | 0.57% | 0.14% | 0.10% | 0.13% | 0.20% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $2,670,993 | $3,667,951 | $3,502,863 | $19,829 | $13,188 |
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 | 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. |
July 31, 2021
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $2,996,850,000 |
Investment in securities, including $1,499,980,527 of investment in affiliated holdings* | 15,855,488,572 |
Investment in securities, at amortized cost and fair value | 18,852,338,572 |
Cash | 299,993,541 |
Income receivable | 3,411,776 |
Income receivable from affiliated holdings | 17,669 |
Receivable for shares sold | 15,917,044 |
Total Assets | 19,171,678,602 |
Liabilities: | |
Payable for investments purchased | 69,629,111 |
Payable for shares redeemed | 20,717,721 |
Income distribution payable | 11,468 |
Payable for investment adviser fee (Note 5) | 49,838 |
Payable for administrative fee (Note 5) | 81,670 |
Payable for other service fees (Notes 2 and 5) | 181,569 |
Accrued expenses (Note 5) | 1,383,137 |
Total Liabilities | 92,054,514 |
Net assets for 19,079,615,987 shares outstanding | $19,079,624,088 |
Net Assets Consist of: | |
Paid-in capital | $19,079,607,171 |
Total distributable earnings (loss) | 16,917 |
Total Net Assets | $19,079,624,088 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$1,034,829,658 ÷ 1,034,829,219 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Class R Shares: | |
$38,761,706 ÷ 38,761,689 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Wealth Shares: | |
$11,788,469,670 ÷ 11,788,464,663 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$187,921,185 ÷ 187,921,105 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$1,711,360,608 ÷ 1,711,359,880 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$1,275,932,962 ÷ 1,275,932,421 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$42,076,430 ÷ 42,076,413 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$329,278,564 ÷ 329,278,424 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$2,670,993,305 ÷ 2,670,992,173 shares outstanding, no par value, unlimited shares authorized | $1.00 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31, 2021
Investment Income: | |
Interest | $55,010,740 |
Dividends received from affiliated holdings* | 1,027,508 |
TOTAL INCOME | 56,038,248 |
Expenses: | |
Investment adviser fee (Note 5) | 47,612,880 |
Administrative fee (Note 5) | 19,190,646 |
Custodian fees | 741,487 |
Transfer agent fees (Note 2) | 6,146,913 |
Directors’/Trustees’ fees (Note 5) | 135,316 |
Auditing fees | 22,760 |
Legal fees | 11,903 |
Portfolio accounting fees | 289,877 |
Distribution services fee (Note 5) | 13,312,443 |
Other service fees (Notes 2 and 5) | 21,453,159 |
Share registration costs | 348,380 |
Printing and postage | 510,491 |
Miscellaneous (Note 5) | 230,973 |
TOTAL EXPENSES | 110,007,228 |
Waivers and Reimbursements: | |
Waiver/reimbursement of investment adviser fee (Note 5) | (26,675,206) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (34,717,043) |
TOTAL WAIVERS AND REIMBURSEMENTS | (61,392,249) |
Net expenses | 48,614,979 |
Net investment income | 7,423,269 |
Net realized gain on investments (including net realized gain of $7 on sales of investments in affiliated holdings*) | 11,556 |
Change in net assets resulting from operations | $7,434,825 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $7,423,269 | $359,579,995 |
Net realized gain (loss) | 11,556 | 52,710 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 7,434,825 | 359,632,705 |
Distributions to Shareholders: | ||
Automated Shares | (137,765) | (16,843,929) |
Class R Shares | (3,974) | (248,645) |
Wealth Shares | (6,432,149) | (256,180,113) |
Advisor Shares | (127,699) | (4,429,409) |
Service Shares | (233,300) | (34,575,442) |
Cash II Shares | (125,177) | (7,711,336) |
Cash Series Shares | (3,927) | (217,406) |
Capital Shares | (50,973) | (7,930,540) |
Trust Shares | (349,121) | (31,478,943) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (7,464,085) | (359,615,763) |
Share Transactions: | ||
Proceeds from sale of shares | 15,284,485,959 | 41,712,534,158 |
Net asset value of shares issued to shareholders in payment of distributions declared | 6,952,724 | 335,636,444 |
Cost of shares redeemed | (25,445,666,626) | (39,682,621,667) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (10,154,227,943) | 2,365,548,935 |
Change in net assets | (10,154,257,203) | 2,365,565,877 |
Net Assets: | ||
Beginning of period | 29,233,881,291 | 26,868,315,414 |
End of period | $19,079,624,088 | $29,233,881,291 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $1,409,804 | $(4,588) | $(799,559) |
Class R Shares | 118,685 | (2,260) | (97,790) |
Wealth Shares | 2,227,916 | (241) | — |
Advisor Shares | 40,196 | — | — |
Service Shares | 328,363 | — | (4) |
Cash II Shares | 1,420,493 | (47,555) | (892,776) |
Cash Series Shares | 43,339 | (855) | (27,654) |
Capital Shares | 60,481 | — | — |
Trust Shares | 497,636 | (6) | — |
TOTAL | $6,146,913 | $(55,505) | $(1,817,783) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $3,519,031 | $(57,706) | $(3,422,858) |
Class R Shares | 100,342 | (276) | (100,066) |
Service Shares | 5,682,627 | (4,030) | (4,940,447) |
Cash II Shares | 3,070,390 | (13,403) | (3,056,987) |
Cash Series Shares | 96,320 | — | (96,320) |
Capital Shares | 417,789 | (11,807) | (280,502) |
Trust Shares | 8,566,660 | — | (8,566,660) |
TOTAL | $21,453,159 | $(87,222) | $(20,463,840) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,092,892,574 | $1,092,892,574 | 1,758,276,041 | $1,758,276,041 |
Shares issued to shareholders in payment of distributions declared | 135,800 | 135,800 | 16,647,845 | 16,647,845 |
Shares redeemed | (1,661,611,602) | (1,661,611,602) | (1,850,460,085) | (1,850,460,085) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | (568,583,228) | $(568,583,228) | (75,536,199) | $(75,536,199) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Class R Shares: | Shares | Amount | Shares | Amount |
Shares sold | 25,037,245 | $25,037,245 | 27,445,309 | $27,445,309 |
Shares issued to shareholders in payment of distributions declared | 3,927 | 3,927 | 247,196 | 247,196 |
Shares redeemed | (34,894,798) | (34,894,798) | (23,333,858) | (23,333,858) |
NET CHANGE RESULTING FROM CLASS R SHARE TRANSACTIONS | (9,853,626) | $(9,853,626) | 4,358,647 | $4,358,647 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | 8,603,643,868 | $8,603,643,868 | 28,640,379,005 | $28,640,379,005 |
Shares issued to shareholders in payment of distributions declared | 5,940,168 | 5,940,168 | 234,495,334 | 234,495,334 |
Shares redeemed | (15,635,221,953) | (15,635,221,953) | (26,922,855,195) | (26,922,855,195) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | (7,025,637,917) | $(7,025,637,917) | 1,952,019,144 | $1,952,019,144 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Advisor Shares: | Shares | Amount | Shares | Amount |
Shares sold | 170,408,084 | $170,408,084 | 884,263,886 | $884,263,886 |
Shares issued to shareholders in payment of distributions declared | 127,699 | 127,699 | 4,429,608 | 4,429,608 |
Shares redeemed | (358,892,162) | (358,892,162) | (788,700,279) | (788,700,279) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | (188,356,379) | $(188,356,379) | 99,993,215 | $99,993,215 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,287,654,602 | $1,287,654,602 | 5,238,090,768 | $5,238,090,768 |
Shares issued to shareholders in payment of distributions declared | 220,581 | 220,581 | 33,107,271 | 33,107,271 |
Shares redeemed | (2,592,784,162) | (2,592,784,162) | (5,012,188,657) | (5,012,188,657) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (1,304,908,979) | $(1,304,908,979) | 259,009,382 | $259,009,382 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,494,273,060 | $1,494,273,060 | 1,804,367,389 | $1,804,367,389 |
Shares issued to shareholders in payment of distributions declared | 124,526 | 124,526 | 7,694,480 | 7,694,480 |
Shares redeemed | (1,343,714,244) | (1,343,714,244) | (1,730,513,658) | (1,730,513,658) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | 150,683,342 | $150,683,342 | 81,548,211 | $81,548,211 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 60,002,729 | $60,002,729 | 53,724,382 | $53,724,382 |
Shares issued to shareholders in payment of distributions declared | 3,891 | 3,891 | 213,355 | 213,355 |
Shares redeemed | (51,194,705) | (51,194,705) | (53,461,835) | (53,461,835) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 8,811,915 | $8,811,915 | 475,902 | $475,902 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 286,065,142 | $286,065,142 | 719,368,195 | $719,368,195 |
Shares issued to shareholders in payment of distributions declared | 47,159 | 47,159 | 7,340,811 | 7,340,811 |
Shares redeemed | (505,540,753) | (505,540,753) | (848,115,152) | (848,115,152) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (219,428,452) | $(219,428,452) | (121,406,146) | $(121,406,146) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,264,508,655 | $2,264,508,655 | 2,586,619,183 | $2,586,619,183 |
Shares issued to shareholders in payment of distributions declared | 348,973 | 348,973 | 31,460,544 | 31,460,544 |
Shares redeemed | (3,261,812,247) | (3,261,812,247) | (2,452,992,948) | (2,452,992,948) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | (996,954,619) | $(996,954,619) | 165,086,779 | $165,086,779 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (10,154,227,943) | $(10,154,227,943) | 2,365,548,935 | $2,365,548,935 |
2021 | 2020 | |
Ordinary income1 | $7,464,085 | $359,613,083 |
Long-term capital gains | $— | $2,680 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed ordinary income2 | $16,917 |
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 | |
Class R Shares | 0.50% |
Cash II Shares | 0.35% |
Cash Series Shares | 0.60% |
Trust Shares | 0.25% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Class R Shares | $208,886 | $(208,790) |
Cash II Shares | 4,305,431 | (4,281,448) |
Cash Series Shares | 231,466 | (230,798) |
Trust Shares | 8,566,660 | (7,571,657) |
TOTAL | $13,312,443 | $(12,292,693) |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Automated Shares | $1,000 | $1,000.10 | $20.89 |
Class R Shares | $1,000 | $1,000.10 | $30.84 |
Wealth Shares | $1,000 | $1,000.10 | $0.89 |
Advisor Shares | $1,000 | $1,000.10 | $0.89 |
Service Shares | $1,000 | $1,000.10 | $40.89 |
Cash II Shares | $1,000 | $1,000.10 | $50.84 |
Cash Series Shares | $1,000 | $1,000.10 | $60.84 |
Capital Shares | $1,000 | $1,000.10 | $70.89 |
Trust Shares | $1,000 | $1,000.10 | $80.89 |
Hypothetical (assuming a 5% return before expenses): | |||
Automated Shares | $1,000 | $1,023.90 | $20.90 |
Class R Shares | $1,000 | $1,023.95 | $30.85 |
Wealth Shares | $1,000 | $1,023.90 | $0.90 |
Advisor Shares | $1,000 | $1,023.90 | $0.90 |
Service Shares | $1,000 | $1,023.90 | $40.90 |
Cash II Shares | $1,000 | $1,023.95 | $50.85 |
Cash Series Shares | $1,000 | $1,023.95 | $60.85 |
Capital Shares | $1,000 | $1,023.90 | $70.90 |
Trust Shares | $1,000 | $1,023.90 | $80.90 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Automated Shares | 0.18% |
Class R Shares | 0.17% |
Wealth Shares | 0.18% |
Advisor Shares | 0.18% |
Service Shares | 0.18% |
Cash II Shares | 0.17% |
Cash Series Shares | 0.17% |
Capital Shares | 0.18% |
Trust Shares | 0.18% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Automated Shares current Fee Limit of 0.55% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.73 and $2.76, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Class R Shares current Fee Limit of 1.15% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $5.70 and $5.77, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.45% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.23 and $2.26, respectively. |
5 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash II Shares current Fee Limit of 0.90% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $4.46 and $4.52, respectively. |
6 | 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 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $5.21 and $5.27, respectively. |
7 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Capital Shares current Fee Limit of 0.30% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.49 and $1.51, respectively. |
8 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Trust Shares current Fee Limit of 0.70% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $3.47 and $3.51, 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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 Portfolio Manager since: November 1996 | Principal Occupations: Deborah A. Cunningham has been the Fund’s Portfolio Manager since November 1996. Ms. 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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 608919577
CUSIP 60934N625
CUSIP 608919429
CUSIP 60934N617
CUSIP 608919593
CUSIP 608919585
CUSIP 60934N591
CUSIP 608919619
Share Class | Ticker | Wealth | PCOXX |
Federated Hermes Prime Cash Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
beneficially owned by natural persons.
Security Type | Percentage of Total Net Assets |
Commercial Paper | 40.0% |
Bank Instruments | 31.4% |
Other Repurchase Agreements and Repurchase Agreements | 15.7% |
Variable Rate Instruments | 3.6% |
U.S. Treasury Securities | 0.3% |
Municipal Bond | 0.0% |
Cash Equivalent2 | 7.8% |
Other Assets and Liabilities—Net3 | 1.2% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for more complete information regarding these security types. With respect to this table, Commercial Paper includes commercial paper with interest rates that are fixed or that reset periodically. |
2 | Cash Equivalents include any investments in money market mutual funds. |
3 | 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 Days2 | 43.3% |
8-30 Days | 10.4% |
31-90 Days | 27.8% |
91-180 Days | 10.1% |
181 Days or more | 7.2% |
Other Assets and Liabilities—Net3 | 1.2% |
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 | Overnight securities comprised 11.5% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount or Shares | Value | ||
1 | COMMERCIAL PAPER— 40.0% | ||
Aerospace/Auto— 0.3% | |||
$ 65,000,000 | Toyota Credit Canada, Inc., (Toyota Motor Corp. SA), 0.160%, 11/10/2021 | $64,970,822 | |
Finance - Banking— 15.0% | |||
94,839,000 | Albion Capital LLC, (MUFG Bank Ltd. LIQ), 0.160%, 8/16/2021 | 94,832,677 | |
150,000,000 | Alpine Securitization LLC, (Credit Suisse AG LIQ), 0.160%, 11/30/2021 | 150,000,000 | |
230,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.110% - 0.281%, 9/7/2021 - 4/12/2022 | 229,792,312 | |
225,000,000 | BPCE SA, 0.140%, 8/3/2021 | 224,998,250 | |
256,000,000 | DNB Bank ASA, 0.080%, 8/30/2021 | 255,983,502 | |
50,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.150%, 1/20/2022 | 49,964,166 | |
140,000,000 | Gotham Funding Corp., (MUFG Bank Ltd. LIQ), 0.080% - 0.110%, 9/2/2021 - 11/4/2021 | 139,969,655 | |
50,000,000 | ING (U.S.) Funding LLC, 0.110%, 8/19/2021 | 49,997,250 | |
71,000,000 | Manhattan Asset Funding Company LLC, (Sumitomo Mitsui Banking Corp. LIQ), 0.080%, 9/2/2021 | 70,994,951 | |
300,000,000 | Matchpoint Finance PLC, (BNP Paribas SA LIQ), 0.080% - 0.120%, 9/15/2021 - 10/19/2021 | 299,939,665 | |
100,000,000 | Nationwide Building Society, 0.100%, 8/9/2021 | 99,997,778 | |
226,000,000 | Nordea Bank Abp, 0.110% - 0.120%, 10/13/2021 - 11/22/2021 | 225,934,537 | |
125,000,000 | Royal Bank of Canada, 0.210% - 0.241%, 4/14/2022 - 6/21/2022 | 124,772,916 | |
50,000,000 | Royal Bank of Canada, New York Branch, 0.241%, 3/18/2022 | 49,923,666 | |
150,000,000 | 2 | Royal Bank of Canada, New York Branch, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 150,000,000 |
110,000,000 | 2 | Royal Bank of Canada, New York Branch, 0.310% (Effective Fed Funds +0.210%), 8/2/2021 | 110,000,000 |
75,000,000 | Sumitomo Mitsui Banking Corp., 0.120%, 10/25/2021 | 74,978,750 | |
50,000,000 | Sumitomo Mitsui Trust Bank Ltd., 0.120%, 11/2/2021 | 50,000,000 | |
369,000,000 | Toronto Dominion Bank, 0.200% - 0.251%, 4/20/2022 - 7/7/2022 | 368,319,131 | |
50,000,000 | Westpac Banking Corp. Ltd., Sydney, 0.231%, 3/11/2022 | 49,929,083 | |
TOTAL | 2,870,328,289 | ||
Finance - Commercial— 2.9% | |||
145,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.130%, 12/15/2021 | 145,000,000 | |
25,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.130%, 12/7/2021 | 25,000,000 | |
90,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/10/2022 | 90,000,000 |
Principal Amount or Shares | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Finance - Commercial— continued | |||
$ 100,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/10/2022 | $100,000,000 | |
125,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/20/2022 | 125,000,000 | |
75,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.200%, 10/18/2021 | 75,000,000 | |
TOTAL | 560,000,000 | ||
Finance - Retail— 8.8% | |||
230,500,000 | Chariot Funding LLC, 0.070% - 0.110%, 8/16/2021 - 10/19/2021 | 230,474,953 | |
50,000,000 | Old Line Funding, LLC, 0.100%, 2/3/2022 | 49,959,111 | |
47,000,000 | Old Line Funding, LLC, 0.120%, 9/24/2021 | 46,991,540 | |
100,000,000 | Old Line Funding, LLC, 0.150%, 8/3/2021 | 99,999,167 | |
20,000,000 | Old Line Funding, LLC, 0.150%, 1/24/2022 | 19,985,333 | |
70,000,000 | Old Line Funding, LLC, 0.190%, 9/13/2021 | 69,984,113 | |
681,108,000 | Sheffield Receivables Company LLC, 0.080% - 0.160%, 8/9/2021 - 10/21/2021 | 681,011,357 | |
285,200,000 | Starbird Funding Corp., 0.080% - 0.140%, 8/2/2021 - 10/22/2021 | 285,158,888 | |
85,000,000 | Thunder Bay Funding, LLC, 0.100%, 9/20/2021 | 84,988,194 | |
50,000,000 | Thunder Bay Funding, LLC, 0.190%, 9/13/2021 | 49,988,653 | |
55,000,000 | Thunder Bay Funding, LLC, 0.200%, 10/7/2021 | 54,979,528 | |
TOTAL | 1,673,520,837 | ||
Finance - Securities— 10.7% | |||
50,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.150%, 1/4/2022 | 50,000,000 | |
797,000,000 | Anglesea Funding LLC, 0.080% - 0.200%, 8/2/2021 - 11/15/2021 | 796,843,330 | |
166,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 0.080%, 8/2/2021 | 165,999,631 | |
50,000,000 | Chesham Finance LLC Series VII, (Citibank N.A., New York COL), 0.160%, 8/17/2021 | 49,996,444 | |
218,000,000 | Collateralized Commercial Paper FLEX Co., LLC, 0.100% - 0.180%, 8/2/2021 - 8/24/2021 | 217,990,486 | |
517,700,000 | Collateralized Commercial Paper V Co. LLC, 0.160% - 0.220%, 8/2/2021 - 1/18/2022 | 517,518,825 | |
236,500,000 | Longship Funding LLC, 0.080% - 0.115%, 9/10/2021 - 9/22/2021 | 236,470,525 | |
TOTAL | 2,034,819,241 | ||
Oil & Oil Finance— 0.3% | |||
50,000,000 | Exxon Mobil Corp., 0.180%, 9/7/2021 | 49,990,750 | |
Sovereign— 2.0% | |||
10,000,000 | BNG Bank N.V., 0.070%, 8/6/2021 | 9,999,903 | |
231,750,000 | Erste Abwicklungsanstalt, 0.080% - 0.110%, 9/2/2021 - 11/1/2021 | 231,711,102 |
Principal Amount or Shares | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Sovereign— continued | |||
$ 130,000,000 | Nederlandse Waterschapsbank NV, 0.110%, 10/29/2021 | $129,964,646 | |
TOTAL | 371,675,651 | ||
TOTAL COMMERCIAL PAPER | 7,625,305,590 | ||
CERTIFICATES OF DEPOSIT— 24.0% | |||
Finance - Banking— 24.0% | |||
400,000,000 | Bank of Montreal, 0.210% - 0.240%, 3/3/2022 - 7/26/2022 | 400,000,000 | |
100,000,000 | 2 | Bank of Montreal, 0.290% (Secured Overnight Financing Rate +0.240%), 8/2/2021 | 100,000,000 |
276,000,000 | Bank of Nova Scotia, Toronto, 0.220% - 0.250%, 10/7/2021 - 5/17/2022 | 276,000,000 | |
205,000,000 | 2 | Bank of Nova Scotia, Toronto, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 205,000,000 |
500,000,000 | Canadian Imperial Bank of Commerce, 0.180% - 0.270%, 9/1/2021 - 1/4/2022 | 500,000,000 | |
100,000,000 | 2 | Canadian Imperial Bank of Commerce, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 100,000,000 |
150,000,000 | 2 | Canadian Imperial Bank of Commerce, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 150,000,000 |
250,000,000 | Credit Agricole Corporate and Investment Bank, 0.080%, 8/4/2021 | 250,000,000 | |
125,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.110%, 10/22/2021 | 125,000,000 | |
680,000,000 | Mizuho Bank Ltd., 0.100% - 0.150%, 8/6/2021 - 9/2/2021 | 680,000,000 | |
50,000,000 | Royal Bank of Canada, 0.210%, 3/9/2022 | 50,000,000 | |
300,000,000 | Sumitomo Mitsui Banking Corp., 0.110% - 0.120%, 10/1/2021 - 10/15/2021 | 300,000,000 | |
100,000,000 | Sumitomo Mitsui Banking Corp., 0.130%, 10/18/2021 | 99,971,843 | |
904,625,000 | Sumitomo Mitsui Trust Bank Ltd., 0.070% - 0.150%, 8/4/2021 - 10/22/2021 | 904,621,765 | |
400,000,000 | Toronto Dominion Bank, 0.240% - 0.260%, 10/4/2021 - 4/29/2022 | 400,000,000 | |
45,000,000 | 2 | Toronto Dominion Bank, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 44,999,988 |
TOTAL CERTIFICATES OF DEPOSIT | 4,585,593,596 | ||
TIME DEPOSITS— 7.4% | |||
Finance - Banking— 7.4% | |||
955,000,000 | ABN Amro Bank NV, 0.090%, 8/3/2021 - 8/6/2021 | 955,000,000 | |
150,000,000 | Australia & New Zealand Banking Group, Melbourne, 0.080%, 8/4/2021 | 150,000,000 | |
150,000,000 | Cooperatieve Rabobank UA, 0.050%, 8/2/2021 | 150,000,000 | |
150,000,000 | DNB Bank ASA, 0.040%, 8/2/2021 | 150,000,000 | |
TOTAL TIME DEPOSITS | 1,405,000,000 |
Principal Amount or Shares | Value | ||
2 | NOTES - VARIABLE— 3.6% | ||
Finance - Banking— 1.8% | |||
$ 100,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.300% (Effective Fed Funds +0.200%), 8/3/2021 | $100,000,000 | |
95,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.320% (Effective Fed Funds +0.220%), 8/2/2021 | 95,000,000 | |
6,725,000 | Fiore Capital LLC, (Wells Fargo Bank, N.A. LOC), 0.120%, 8/5/2021 | 6,725,000 | |
1,615,000 | Gadsden, AL Airport Authority, Series 2004, (Wells Fargo Bank, N.A. LOC), 0.140%, 8/5/2021 | 1,615,000 | |
595,000 | Montgomery, AL IDB, (Wells Fargo Bank, N.A. LOC), 0.270%, 8/5/2021 | 595,000 | |
19,670,000 | Osprey Properties Limited Partnership, LLP & Nighthawk Properties, LLC, Series 2008, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 19,670,000 | |
29,435,000 | Panel Rey S.A., Series 2016, (Citibank N.A., New York LOC), 0.120%, 8/5/2021 | 29,435,000 | |
35,000,000 | Royal Bank of Canada, New York Branch, 0.280% (Secured Overnight Financing Rate +0.230%), 8/2/2021 | 35,000,000 | |
1,955,000 | Spira Millennium LLC, Series 2001, (Bank of America N.A. LOC), 0.100%, 8/5/2021 | 1,955,000 | |
15,000,000 | SSAB AB (publ), Series 2015-A, (DNB Bank ASA LOC), 0.120%, 8/5/2021 | 15,000,000 | |
430,000 | Sun Valley, Inc., (Wells Fargo Bank, N.A. LOC), 0.140%, 8/6/2021 | 430,000 | |
20,559,285 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.410%, 8/2/2021 | 20,559,285 | |
18,290,000 | Triborough Bridge & Tunnel Authority, NY, (Taxable Series E) Weekly VRDNs, (Bank of America N.A. LOC), 0.080%, 8/5/2021 | 18,290,000 | |
TOTAL | 344,274,285 | ||
Government Agency— 1.8% | |||
5,915,000 | 1320 W Jefferson LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 5,915,000 | |
4,925,000 | Andrew Long Irrevocable Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,925,000 | |
1,700,000 | Archer 1 LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 1,700,000 | |
2,100,000 | BWF Forge TL Properties Owner LLC, (FHLB of Des Moines LOC)/(FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 2,100,000 | |
1,830,000 | CMR LLC, CMR LLC Project Series 2017, (FHLB of Indianapolis LOC), 0.200%, 8/5/2021 | 1,830,000 | |
6,230,000 | Dennis Wesley Company, Inc., The Dennis Wesley Company, Inc. Project, (FHLB of Indianapolis LOC), 0.120%, 8/5/2021 | 6,230,000 | |
6,130,000 | Frank Dale Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,130,000 | |
8,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 8,000,000 |
Principal Amount or Shares | Value | ||
2 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 4,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-B, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | $4,000,000 | |
6,740,000 | Mason Harrison Ratliff Enterprises, LLC, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,740,000 | |
30,200,000 | Mike P. Sturdivant, Sr. Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 30,200,000 | |
25,622,500 | Naples SI, LLC, (FHLB of Indianapolis LOC), 0.130%, 8/5/2021 | 25,622,500 | |
35,960,000 | Park Stanton Place LP, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 35,960,000 | |
6,650,000 | Phenix City, AL Downtown Redevelopment Authority, Series 2013-A, (FHLB of New York LOC), 0.120%, 8/5/2021 | 6,650,000 | |
21,000,000 | Pittsburg Fox Creek Associates L.P., Series 2011-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 21,000,000 | |
5,410,000 | Public Finance Authority, Series 2015-A Ram Eufaula Hospitality, LLC, (FHLB of New York LOC), 0.140%, 8/5/2021 | 5,410,000 | |
6,000,000 | Riverview Project, Series 2021, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 6,000,000 | |
13,150,000 | Rohnert Park 668, L.P., (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 13,150,000 | |
7,600,000 | Sandy Jacobs Irrevocable Insurance Trust, Series 2019, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 7,600,000 | |
22,065,000 | Sendra Family Irrevocable Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 22,065,000 | |
11,260,000 | Shawn R. Trapuzzano Irrevocable Insurance Trust, (FHLB of Pittsburgh LOC), 0.120%, 8/5/2021 | 11,260,000 | |
4,860,000 | Spingola Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,860,000 | |
7,680,000 | The J.G. Aguirre Master Trust, (FHLB of Atlanta LOC), 0.120%, 8/5/2021 | 7,680,000 | |
23,765,000 | The Jacob Rosenstein Irrevocable Life Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 23,765,000 | |
4,150,000 | The Mary Jane Beauregard Irrevocable Insurance Trust of 2017, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,150,000 | |
4,710,000 | The Mulberry Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,710,000 | |
20,330,000 | The Murray D. Berry Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 20,330,000 | |
20,945,000 | The Ray L. Berry Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 20,945,000 | |
16,400,000 | Wingo Family Master Trust, (FHLB of Des Moines LOC), 0.150%, 8/5/2021 | 16,400,000 | |
TOTAL | 335,327,500 | ||
TOTAL NOTES - VARIABLE | 679,601,785 |
Principal Amount or Shares | Value | ||
U.S. TREASURY— 0.3% | |||
U.S. Treasury Notes— 0.3% | |||
$ 50,000,000 | 2 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 | $50,007,074 |
MUNICIPAL BOND— 0.0% | |||
Municipal— 0.0% | |||
10,000,000 | Alabama State Public School & College Authority, (Series 2020B), 0.253%, 9/1/2021 | 10,000,000 | |
OTHER REPURCHASE AGREEMENTS— 14.1% | |||
Finance - Banking— 14.1% | |||
25,000,000 | BMO Capital Markets Corp., 0.18%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $102,567,276 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
90,000,000 | BMO Capital Markets Corp., 0.20%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,002,500 on 8/2/2021, in which asset-backed securities, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $153,198,037 have been received as collateral and held with BNY Mellon as tri-party agent. | 90,000,000 | |
100,000,000 | BMO Capital Markets Corp., 0.25%, dated 2/8/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,259,904 on 1/10/2022, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $204,307,157 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
20,000,000 | BMO Capital Markets Corp., 0.30%, dated 7/30/2021, interest in a $20,000,000 collateralized loan agreement will repurchase securities provided as collateral for $20,000,500 on 8/2/2021, in which asset-backed securities, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $20,403,188 have been received as collateral and held with BNY Mellon as tri-party agent. | 20,000,000 | |
15,000,000 | BNP Paribas S.A. 0.18%, dated 7/30/2021, interest in a $50,000,000 collateralized loan agreement will repurchase securities provided as collateral for $50,000,750 on 8/2/2021, in which asset-backed securities and Sovereign debt securities with a market value of $51,000,765 have been received as collateral and held with BNY Mellon as tri-party agent. | 15,000,000 | |
25,000,000 | Citigroup Global Markets, Inc., 0.42%, dated 5/19/2021, interest in a $25,000,000 collateralized loan agreement will repurchase securities provided as collateral for $25,052,500 on 11/15/2021, in which Sovereign debt securities with a market value of $25,669,619 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 50,000,000 | Citigroup Global Markets, Inc., 0.47%, dated 5/19/2021, interest in a $50,000,000 collateralized loan agreement will repurchase securities provided as collateral for $50,117,845 on 11/15/2021, in which collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $51,022,183 have been received as collateral and held with BNY Mellon as tri-party agent. | $50,000,000 | |
250,000,000 | Credit Agricole S.A., 0.15%, dated 7/29/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,013,750 on 8/5/2021, in which assets-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $561,007,598.have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
90,000,000 | Credit Agricole S.A., agreement 0.22%, dated 7/29/2021, interest in a $170,000,000 collateralized loan agreement will repurchase securities provided as collateral for $170,006,233 on 8/5/2021, in which assets-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $173,403,197 have been received as collateral and held with BNY Mellon as tri-party agent. | 90,000,000 | |
50,000,000 | Credit Suisse Securities (USA) LLC, 0.20%, dated 7/27/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,003,889 on 8/3/2021, in which asset-backed securities and collateralized mortgage obligations with a market value of $102,003,400 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
25,000,000 | HSBC Securities (USA), Inc., 0.18%, dated 7/30/2021, interest in a $25,000,000 collateralized loan agreement will repurchase securities provided as collateral for $25,000,375 on 8/2/2021, in which asset-backed securities with a market value of $25,500,234 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
95,000,000 | J.P. Morgan Securities LLC, 0.27%, dated 7/27/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,010,500 on 8/3/2021, in which corporate bonds and medium-term notes with a market value of $204,000,017 have been received as collateral and held with BNY Mellon as tri-party agent. | 95,000,000 | |
110,000,000 | J.P. Morgan Securities LLC, 0.33%, dated 7/20/2021, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,071,042 on 8/20/2021, in which corporate bonds with a market value of $255,000,000 have been received as collateral and held with BNY Mellon as tri-party agent. | 110,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 75,000,000 | Mizuho Securities USA, Inc., 0.28%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,003,500 on 8/2/2021, in which common stocks with a market value of $153,003,589 have been received as collateral and held with BNY Mellon as tri-party agent. | $75,000,000 | |
100,000,000 | Mizuho Securities USA, Inc., 0.45%, dated 9/4/2020, interest in a $120,000,000 collateralized loan agreement will repurchase securities provided as collateral for $120,090,000 on 10/1/2021 in which collateralized mortgage obligations, commercial paper and municipal bonds with a market value of $122,452,225 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
225,000,000 | MUFG Securities Americas, Inc., 0.23%, dated 7/30/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,010,542 on 8/2/2021, in which American depositary receipts, common stocks, convertible bonds, exchange traded funds and unit investment trust with a market value of $561,010,753 have been received as collateral and held with BNY Mellon as tri-party agent. | 225,000,000 | |
150,000,000 | Pershing LLC, 0.33%, dated 10/30/2020, interest in a $300,000,000 collateralized loan agreement will repurchase securities provided as collateral for $300,019,250 on 8/10/2021, in which asset-backed securities, collateralized mortgage obligations, common stocks, convertible bonds, corporate bonds, exchange-traded funds, medium-term notes and municipal bonds with a market value of $306,037,843 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
225,000,000 | Societe Generale, Paris, 0.14%, dated 7/30/2021, interest in a $350,000,000 collateralized loan agreement will repurchase securities provided as collateral for $350,004,083 on 8/2/2021, in which asset-backed securities, corporate bonds, medium-term notes and Sovereign debt securities with a market value of $357,004,182 have been received as collateral and held with BNY Mellon as tri-party agent. | 225,000,000 | |
320,000,000 | Societe Generale, Paris, 0.23%, dated 7/30/2021, interest in a $650,000,000 collateralized loan agreement will repurchase securities provided as collateral for $650,012,458 on 8/2/2021, in which asset-backed securities, corporate bonds, collateralized mortgage obligations, medium-term notes and Sovereign debt securities with a market value of $663,012,713 have been received as collateral and held with BNY Mellon as tri-party agent. | 320,000,000 | |
50,000,000 | Standard Chartered Bank, 0.16%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,333 on 8/2/2021, in which U.S. treasury bills, U.S. treasury notes and U.S. Treasury bonds with a market value of $102,009,823 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 120,000,000 | Wells Fargo Securities LLC, 0.57%, dated 6/1/2020, interest in a $120,000,000 collateralized loan agreement will repurchase securities provided as collateral for $120,171,000 on 10/5/2021, in which convertible bonds with a market value of $122,450,756 have been received as collateral and held with BNY Mellon as tri-party agent. | $120,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 0.54%, dated 7/2/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,202,500 on 9/30/2021 in which convertible bonds with a market value of $153,071,204 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 0.59%, dated 5/20/2020, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,221,250 on 10/18/2021 in which convertible bonds with a market value of $153,032,633 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
175,000,000 | Wells Fargo Securities LLC, 0.58%, dated 4/27/2021, interest in a $175,000,000 collateralized loan agreement will repurchase securities provided as collateral for $175,253,750 on 10/20/2021, in which convertible bonds with a market value of $178,532,607 have been received as collateral and held with BNY Mellon as tri-party agent. | 175,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS | 2,685,000,000 | ||
REPURCHASE AGREEMENT— 1.6% | |||
Finance - Banking— 1.6% | |||
311,850,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,013,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 6/1/2051 and the market value of those underlying securities was $3,060,014,025. | 311,850,000 | |
INVESTMENT COMPANIES— 7.8% | |||
1,000,000,000 | Federated Hermes Institutional Money Market Management, Institutional Shares, 0.01%3 | 999,713,001 | |
500,267,549 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 0.02%3 | 500,267,526 | |
TOTAL INVESTMENT COMPANIES | 1,499,980,527 | ||
TOTAL INVESTMENT IN SECURITIES—98.8% (AT AMORTIZED COST)4 | 18,852,338,572 | ||
OTHER ASSETS AND LIABILITIES - NET—1.2%5 | 227,285,516 | ||
TOTAL NET ASSETS—100% | $19,079,624,088 |
Federated Hermes Institutional Money Market Management, Institutional Shares | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | Total of Affiliated Transactions | |
Value as of 7/31/2020 | $999,713,000 | $500,267,520 | $1,499,980,520 |
Purchases at Cost | $5,000 | $5,003 | $10,003 |
Proceeds from Sales | $(5,000) | $(5,003) | $(10,003) |
Change in Unrealized Appreciation/ Depreciation | N/A | $— | $— |
Net Realized Gain/(Loss) | $1 | $6 | $7 |
Value as of 7/31/2021 | $999,713,001 | $500,267,526 | $1,499,980,527 |
Shares Held as of 7/31/2021 | 1,000,000,000 | 500,267,549 | 1,500,267,549 |
Dividend Income | $615,278 | $412,230 | $1,027,508 |
1 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
2 | Floating/variable note with current rate and current maturity or next reset date shown. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
3 | 7-day net yield. |
4 | Also represents cost of investments for federal tax purposes. |
5 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following is a summary of the inputs used, as of July 31, 2021, in valuing the Fund’s assets carried at fair value:
Valuation Inputs | ||||
Level 1— Quoted Prices | Level 2— Other Significant Observable Inputs | Level 3— Significant Unobservable Inputs | Total | |
Debt Securities: | ||||
Commercial Paper | $— | $7,625,305,590 | $— | $7,625,305,590 |
Certificates Of Deposit | — | 4,585,593,596 | — | 4,585,593,596 |
Time Deposits | — | 1,405,000,000 | — | 1,405,000,000 |
Notes - Variable | — | 679,601,785 | — | 679,601,785 |
U.S. Treasury | — | 50,007,074 | — | 50,007,074 |
Municipal Bond | — | 10,000,000 | — | 10,000,000 |
Other Repurchase Agreements | — | 2,685,000,000 | — | 2,685,000,000 |
Repurchase Agreements | — | 311,850,000 | — | 311,850,000 |
Investment Company | 1,499,980,527 | — | — | 1,499,980,527 |
TOTAL SECURITIES | $1,499,980,527 | $17,352,358,045 | $— | $18,852,338,572 |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
FHLB | —Federal Home Loan Bank | |
GTD | —Guaranteed | |
IDB | —Industrial Development Bond | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.013 | 0.023 | 0.015 | 0.008 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.0001 | 0.013 | 0.023 | 0.015 | 0.008 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.013) | (0.023) | (0.015) | (0.008) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.000)1 | (0.013) | (0.023) | (0.015) | (0.008) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.04% | 1.33% | 2.36% | 1.53% | 0.75% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% |
Net investment income | 0.04% | 1.33% | 2.36% | 1.56% | 0.71% |
Expense waiver/reimbursement4 | 0.10% | 0.10% | 0.10% | 0.13% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $11,788,470 | $18,814,127 | $16,862,096 | $5,770,600 | $2,868,583 |
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 | 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. |
July 31, 2021
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $2,996,850,000 |
Investment in securities, including $1,499,980,527 of investment in affiliated holdings* | 15,855,488,572 |
Investment in securities, at amortized cost and fair value | 18,852,338,572 |
Cash | 299,993,541 |
Income receivable | 3,411,776 |
Income receivable from affiliated holdings | 17,669 |
Receivable for shares sold | 15,917,044 |
Total Assets | 19,171,678,602 |
Liabilities: | |
Payable for investments purchased | 69,629,111 |
Payable for shares redeemed | 20,717,721 |
Income distribution payable | 11,468 |
Payable for investment adviser fee (Note 5) | 49,838 |
Payable for administrative fee (Note 5) | 81,670 |
Payable for other service fees (Notes 2 and 5) | 181,569 |
Accrued expenses (Note 5) | 1,383,137 |
Total Liabilities | 92,054,514 |
Net assets for 19,079,615,987 shares outstanding | $19,079,624,088 |
Net Assets Consist of: | |
Paid-in capital | $19,079,607,171 |
Total distributable earnings (loss) | 16,917 |
Total Net Assets | $19,079,624,088 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$1,034,829,658 ÷ 1,034,829,219 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Class R Shares: | |
$38,761,706 ÷ 38,761,689 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Wealth Shares: | |
$11,788,469,670 ÷ 11,788,464,663 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$187,921,185 ÷ 187,921,105 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$1,711,360,608 ÷ 1,711,359,880 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$1,275,932,962 ÷ 1,275,932,421 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$42,076,430 ÷ 42,076,413 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$329,278,564 ÷ 329,278,424 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$2,670,993,305 ÷ 2,670,992,173 shares outstanding, no par value, unlimited shares authorized | $1.00 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31, 2021
Investment Income: | |
Interest | $55,010,740 |
Dividends received from affiliated holdings* | 1,027,508 |
TOTAL INCOME | 56,038,248 |
Expenses: | |
Investment adviser fee (Note 5) | 47,612,880 |
Administrative fee (Note 5) | 19,190,646 |
Custodian fees | 741,487 |
Transfer agent fees (Note 2) | 6,146,913 |
Directors’/Trustees’ fees (Note 5) | 135,316 |
Auditing fees | 22,760 |
Legal fees | 11,903 |
Portfolio accounting fees | 289,877 |
Distribution services fee (Note 5) | 13,312,443 |
Other service fees (Notes 2 and 5) | 21,453,159 |
Share registration costs | 348,380 |
Printing and postage | 510,491 |
Miscellaneous (Note 5) | 230,973 |
TOTAL EXPENSES | 110,007,228 |
Waivers and Reimbursements: | |
Waiver/reimbursement of investment adviser fee (Note 5) | (26,675,206) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (34,717,043) |
TOTAL WAIVERS AND REIMBURSEMENTS | (61,392,249) |
Net expenses | 48,614,979 |
Net investment income | 7,423,269 |
Net realized gain on investments (including net realized gain of $7 on sales of investments in affiliated holdings*) | 11,556 |
Change in net assets resulting from operations | $7,434,825 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $7,423,269 | $359,579,995 |
Net realized gain (loss) | 11,556 | 52,710 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 7,434,825 | 359,632,705 |
Distributions to Shareholders: | ||
Automated Shares | (137,765) | (16,843,929) |
Class R Shares | (3,974) | (248,645) |
Wealth Shares | (6,432,149) | (256,180,113) |
Advisor Shares | (127,699) | (4,429,409) |
Service Shares | (233,300) | (34,575,442) |
Cash II Shares | (125,177) | (7,711,336) |
Cash Series Shares | (3,927) | (217,406) |
Capital Shares | (50,973) | (7,930,540) |
Trust Shares | (349,121) | (31,478,943) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (7,464,085) | (359,615,763) |
Share Transactions: | ||
Proceeds from sale of shares | 15,284,485,959 | 41,712,534,158 |
Net asset value of shares issued to shareholders in payment of distributions declared | 6,952,724 | 335,636,444 |
Cost of shares redeemed | (25,445,666,626) | (39,682,621,667) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (10,154,227,943) | 2,365,548,935 |
Change in net assets | (10,154,257,203) | 2,365,565,877 |
Net Assets: | ||
Beginning of period | 29,233,881,291 | 26,868,315,414 |
End of period | $19,079,624,088 | $29,233,881,291 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $1,409,804 | $(4,588) | $(799,559) |
Class R Shares | 118,685 | (2,260) | (97,790) |
Wealth Shares | 2,227,916 | (241) | — |
Advisor Shares | 40,196 | — | — |
Service Shares | 328,363 | — | (4) |
Cash II Shares | 1,420,493 | (47,555) | (892,776) |
Cash Series Shares | 43,339 | (855) | (27,654) |
Capital Shares | 60,481 | — | — |
Trust Shares | 497,636 | (6) | — |
TOTAL | $6,146,913 | $(55,505) | $(1,817,783) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $3,519,031 | $(57,706) | $(3,422,858) |
Class R Shares | 100,342 | (276) | (100,066) |
Service Shares | 5,682,627 | (4,030) | (4,940,447) |
Cash II Shares | 3,070,390 | (13,403) | (3,056,987) |
Cash Series Shares | 96,320 | — | (96,320) |
Capital Shares | 417,789 | (11,807) | (280,502) |
Trust Shares | 8,566,660 | — | (8,566,660) |
TOTAL | $21,453,159 | $(87,222) | $(20,463,840) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,092,892,574 | $1,092,892,574 | 1,758,276,041 | $1,758,276,041 |
Shares issued to shareholders in payment of distributions declared | 135,800 | 135,800 | 16,647,845 | 16,647,845 |
Shares redeemed | (1,661,611,602) | (1,661,611,602) | (1,850,460,085) | (1,850,460,085) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | (568,583,228) | $(568,583,228) | (75,536,199) | $(75,536,199) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Class R Shares: | Shares | Amount | Shares | Amount |
Shares sold | 25,037,245 | $25,037,245 | 27,445,309 | $27,445,309 |
Shares issued to shareholders in payment of distributions declared | 3,927 | 3,927 | 247,196 | 247,196 |
Shares redeemed | (34,894,798) | (34,894,798) | (23,333,858) | (23,333,858) |
NET CHANGE RESULTING FROM CLASS R SHARE TRANSACTIONS | (9,853,626) | $(9,853,626) | 4,358,647 | $4,358,647 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | 8,603,643,868 | $8,603,643,868 | 28,640,379,005 | $28,640,379,005 |
Shares issued to shareholders in payment of distributions declared | 5,940,168 | 5,940,168 | 234,495,334 | 234,495,334 |
Shares redeemed | (15,635,221,953) | (15,635,221,953) | (26,922,855,195) | (26,922,855,195) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | (7,025,637,917) | $(7,025,637,917) | 1,952,019,144 | $1,952,019,144 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Advisor Shares: | Shares | Amount | Shares | Amount |
Shares sold | 170,408,084 | $170,408,084 | 884,263,886 | $884,263,886 |
Shares issued to shareholders in payment of distributions declared | 127,699 | 127,699 | 4,429,608 | 4,429,608 |
Shares redeemed | (358,892,162) | (358,892,162) | (788,700,279) | (788,700,279) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | (188,356,379) | $(188,356,379) | 99,993,215 | $99,993,215 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,287,654,602 | $1,287,654,602 | 5,238,090,768 | $5,238,090,768 |
Shares issued to shareholders in payment of distributions declared | 220,581 | 220,581 | 33,107,271 | 33,107,271 |
Shares redeemed | (2,592,784,162) | (2,592,784,162) | (5,012,188,657) | (5,012,188,657) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (1,304,908,979) | $(1,304,908,979) | 259,009,382 | $259,009,382 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,494,273,060 | $1,494,273,060 | 1,804,367,389 | $1,804,367,389 |
Shares issued to shareholders in payment of distributions declared | 124,526 | 124,526 | 7,694,480 | 7,694,480 |
Shares redeemed | (1,343,714,244) | (1,343,714,244) | (1,730,513,658) | (1,730,513,658) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | 150,683,342 | $150,683,342 | 81,548,211 | $81,548,211 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 60,002,729 | $60,002,729 | 53,724,382 | $53,724,382 |
Shares issued to shareholders in payment of distributions declared | 3,891 | 3,891 | 213,355 | 213,355 |
Shares redeemed | (51,194,705) | (51,194,705) | (53,461,835) | (53,461,835) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 8,811,915 | $8,811,915 | 475,902 | $475,902 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 286,065,142 | $286,065,142 | 719,368,195 | $719,368,195 |
Shares issued to shareholders in payment of distributions declared | 47,159 | 47,159 | 7,340,811 | 7,340,811 |
Shares redeemed | (505,540,753) | (505,540,753) | (848,115,152) | (848,115,152) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (219,428,452) | $(219,428,452) | (121,406,146) | $(121,406,146) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,264,508,655 | $2,264,508,655 | 2,586,619,183 | $2,586,619,183 |
Shares issued to shareholders in payment of distributions declared | 348,973 | 348,973 | 31,460,544 | 31,460,544 |
Shares redeemed | (3,261,812,247) | (3,261,812,247) | (2,452,992,948) | (2,452,992,948) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | (996,954,619) | $(996,954,619) | 165,086,779 | $165,086,779 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (10,154,227,943) | $(10,154,227,943) | 2,365,548,935 | $2,365,548,935 |
2021 | 2020 | |
Ordinary income1 | $7,464,085 | $359,613,083 |
Long-term capital gains | $— | $2,680 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed ordinary income2 | $16,917 |
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 | |
Class R Shares | 0.50% |
Cash II Shares | 0.35% |
Cash Series Shares | 0.60% |
Trust Shares | 0.25% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Class R Shares | $208,886 | $(208,790) |
Cash II Shares | 4,305,431 | (4,281,448) |
Cash Series Shares | 231,466 | (230,798) |
Trust Shares | 8,566,660 | (7,571,657) |
TOTAL | $13,312,443 | $(12,292,693) |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,000.10 | $0.89 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,023.90 | $0.90 |
1 | Expenses are equal to the Fund’s annualized net expense ratio of 0.18%, multiplied by the average account value over the period, multiplied by 181/365 (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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 Portfolio Manager since: November 1996 | Principal Occupations: Deborah A. Cunningham has been the Fund’s Portfolio Manager since November 1996. Ms. 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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
Share Class | Ticker | Institutional | POIXX | Service | PRSXX | Capital | POPXX |
Federated Hermes Institutional Prime Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
The Share Price will fluctuate. It is possible to lose money by investing in the Fund.
Security Type | Percentage of Total Net Assets |
Commercial Paper | 37.7% |
Bank Instruments | 28.3% |
Other Repurchase Agreements and Repurchase Agreements | 25.6% |
Variable Rate Instruments | 8.1% |
U.S. Treasury Securities | 0.3% |
Municipal Bonds | 0.2% |
Other Assets and Liabilities—Net2 | (0.2)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for more complete information regarding these security types. |
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 Days2 | 46.8% |
8-30 Days | 8.7% |
31-90 Days | 27.6% |
91-180 Days | 9.4% |
181 Days or more | 7.7% |
Other Assets and Liabilities—Net3 | (0.2)% |
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 | Overnight securities comprised 27.1% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— 37.7% | ||
Aerospace/Auto— 0.8% | |||
$ 130,000,000 | Toyota Finance Australia Ltd., (Toyota Motor Corp. SA), 0.200%, 8/10/2021 | $129,993,500 | |
Finance - Banking— 13.3% | |||
92,913,000 | Albion Capital LLC, (MUFG Bank Ltd. LIQ), 0.130% - 0.160%, 8/20/2021 - 9/23/2021 | 92,900,038 | |
50,000,000 | Alpine Securitization LLC, (Credit Suisse AG LIQ), 0.160%, 11/30/2021 | 50,000,000 | |
195,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.110% - 0.241%, 10/27/2021 - 5/6/2022 | 194,906,224 | |
200,000,000 | BPCE SA, 0.140%, 8/3/2021 | 199,998,444 | |
222,000,000 | DNB Bank ASA, 0.070% - 0.080%, 8/2/2021 - 8/30/2021 | 221,987,069 | |
100,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.110%, 10/8/2021 | 99,978,028 | |
50,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.150%, 1/20/2022 | 49,966,650 | |
200,000,000 | Gotham Funding Corp., (MUFG Bank Ltd. LIQ), 0.110%, 10/25/2021 | 199,942,000 | |
50,000,000 | Matchpoint Finance PLC, (BNP Paribas SA LIQ), 0.080%, 9/14/2021 | 49,995,111 | |
114,800,000 | Nationwide Building Society, 0.100%, 8/9/2021 - 8/10/2021 | 114,797,382 | |
70,000,000 | Royal Bank of Canada, 0.210% - 0.241%, 4/14/2022 - 7/7/2022 | 69,872,418 | |
75,000,000 | Sumitomo Mitsui Banking Corp., 0.120%, 10/25/2021 | 74,983,688 | |
50,000,000 | Sumitomo Mitsui Trust Bank Ltd., 0.120%, 11/2/2021 | 49,987,466 | |
440,000,000 | Toronto Dominion Bank, 0.200% - 0.251%, 4/20/2022 - 7/7/2022 | 439,426,579 | |
130,000,000 | Westpac Banking Corp. Ltd., Sydney, 0.231% - 0.241%, 3/11/2022 - 3/24/2022 | 129,888,636 | |
TOTAL | 2,038,629,733 | ||
Finance - Commercial— 3.7% | |||
150,696,000 | Bennington Stark Capital Co., LLC, (Societe Generale, Paris LIQ), 0.110%, 8/30/2021 | 150,682,647 | |
140,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.130%, 12/15/2021 | 140,000,000 | |
100,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/12/2022 | 100,000,000 | |
100,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/24/2022 | 100,000,000 | |
75,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.200%, 10/18/2021 | 75,000,000 | |
TOTAL | 565,682,647 | ||
Finance - Retail— 5.5% | |||
35,000,000 | Barton Capital S.A., 0.100%, 8/25/2021 - 8/27/2021 | 34,997,611 |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Finance - Retail— continued | |||
$ 160,000,000 | Chariot Funding LLC, 0.080%, 9/7/2021 - 9/8/2021 | $159,986,712 | |
27,895,000 | Fairway Finance Co. LLC, 0.180%, 11/16/2021 | 27,884,020 | |
25,000,000 | Old Line Funding, LLC, 0.100%, 2/3/2022 | 24,979,556 | |
92,950,000 | Old Line Funding, LLC, 0.180%, 10/15/2021 | 92,928,926 | |
100,000,000 | Old Line Funding, LLC, 0.180%, 11/5/2021 | 99,969,239 | |
350,000,000 | Sheffield Receivables Company LLC, 0.080% - 0.120%, 8/17/2021 - 10/22/2021 | 349,933,319 | |
45,000,000 | Starbird Funding Corp., 0.110%, 10/22/2021 | 44,987,610 | |
TOTAL | 835,666,993 | ||
Finance - Securities— 11.4% | |||
40,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.150%, 1/4/2022 | 40,012,634 | |
85,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.200%, 10/15/2021 | 85,033,449 | |
88,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.200%, 10/27/2021 | 88,039,156 | |
500,000,000 | Anglesea Funding LLC, 0.070% - 0.140%, 8/2/2021 - 11/15/2021 | 499,915,096 | |
125,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 0.080%, 8/2/2021 | 124,999,722 | |
211,000,000 | Collateralized Commercial Paper FLEX Co., LLC, 0.160% - 0.200%, 8/3/2021 - 1/19/2022 | 210,891,560 | |
290,000,000 | Collateralized Commercial Paper V Co. LLC, 0.080% - 0.220%, 8/2/2021 - 1/5/2022 | 289,910,587 | |
48,500,000 | Longship Funding LLC, (Nordea Bank Abp COL), 0.080%, 9/17/2021 | 48,494,935 | |
365,000,000 | Ridgefield Funding Company, LLC Series A, 0.120%, 10/18/2021 - 11/1/2021 | 364,922,264 | |
TOTAL | 1,752,219,403 | ||
Insurance— 0.4% | |||
59,700,000 | UnitedHealth Group, Inc., 0.110%, 8/18/2021 | 59,696,899 | |
Oil & Oil Finance— 0.4% | |||
50,000,000 | Exxon Mobil Corp., 0.180%, 9/7/2021 | 49,990,750 | |
15,000,000 | Total Capital Canada Ltd., 0.120%, 8/18/2021 | 14,999,150 | |
TOTAL | 64,989,900 | ||
Sovereign— 2.2% | |||
12,000,000 | BNG Bank N.V., 0.070%, 8/4/2021 | 11,999,930 | |
125,000,000 | Erste Abwicklungsanstalt, 0.080%, 9/2/2021 | 124,991,111 | |
50,000,000 | FMS Wertmanagement AoR, 0.110%, 11/1/2021 | 49,986,553 |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Sovereign— continued | |||
$ 150,000,000 | Nederlandse Waterschapsbank NV, 0.110%, 10/29/2021 | $149,957,913 | |
TOTAL | 336,935,507 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $5,783,326,002) | 5,783,814,582 | ||
CERTIFICATES OF DEPOSIT— 19.3% | |||
Finance - Banking— 19.3% | |||
436,200,000 | Bank of Montreal, 0.180% - 0.240%, 9/3/2021 - 7/26/2022 | 436,334,138 | |
115,000,000 | Bank of Nova Scotia, Toronto, 0.250% - 0.290%, 10/7/2021 - 12/10/2021 | 115,042,486 | |
650,000,000 | Canadian Imperial Bank of Commerce, 0.180% - 0.270%, 9/1/2021 - 1/4/2022 | 650,171,693 | |
50,000,000 | Credit Agricole Corporate and Investment Bank, 0.080%, 8/4/2021 | 50,000,000 | |
100,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.110%, 10/8/2021 | 100,003,304 | |
400,000,000 | Mizuho Bank Ltd., 0.100% - 0.150%, 8/6/2021 - 9/2/2021 | 400,000,000 | |
50,000,000 | Royal Bank of Canada, 0.210%, 3/9/2022 | 50,020,295 | |
200,000,000 | Sumitomo Mitsui Banking Corp., 0.110%, 10/15/2021 | 200,004,274 | |
696,800,000 | Sumitomo Mitsui Trust Bank Ltd., 0.080% - 0.150%, 8/11/2021 - 10/22/2021 | 696,802,144 | |
265,000,000 | Toronto Dominion Bank, 0.240% - 0.260%, 10/4/2021 - 4/1/2022 | 265,096,694 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $2,962,999,812) | 2,963,475,028 | ||
TIME DEPOSITS— 9.0% | |||
Finance - Banking— 9.0% | |||
780,000,000 | ABN Amro Bank NV, 0.080% - 0.090%, 8/2/2021 | 780,000,000 | |
500,000,000 | Australia & New Zealand Banking Group, Melbourne, 0.080%, 8/2/2021 | 500,000,000 | |
100,000,000 | Mizuho Bank Ltd., 0.080%, 8/2/2021 | 100,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $1,380,000,000) | 1,380,000,000 | ||
2 | NOTES - VARIABLE— 8.1% | ||
Finance - Banking— 6.2% | |||
100,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.300% (Effective Fed Funds +0.200%), 8/3/2021 | 100,024,809 | |
28,500,000 | Calhoun County, TX Navigation District Environmental Facilities (Formosa Plastic Corp.), (Series 2006) Weekly VRDNs, (Bank of America N.A. LOC), 0.070%, 8/5/2021 | 28,500,000 | |
50,000,000 | Canadian Imperial Bank of Commerce, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 50,026,437 | |
4,860,000 | Centra State Medical Arts Building LLC, (TD Bank, N.A. LOC), 0.140%, 8/5/2021 | 4,860,000 | |
31,000,000 | Clark County, NV Airport System, Subordinate Lien Revenue Bonds (Series 2008 C-2) Weekly VRDNs, (State Street Bank and Trust Co. LOC), 0.030%, 8/4/2021 | 31,000,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 16,700,000 | Greene County Development Authority, Reynolds Lodge, LLC Series 2000B, (U.S. Bank, N.A. LOC), 0.090%, 8/4/2021 | $16,700,000 | |
3,000,000 | Griffin-Spalding County, GA Development Authority, Norcom, Inc. Project 2013A, (Bank of America N.A. LOC), 0.120%, 8/5/2021 | 3,000,000 | |
7,000,000 | Griffin-Spalding County, GA Development Authority, Norcom, Inc. Project, (Bank of America N.A. LOC), 0.120%, 8/5/2021 | 7,000,000 | |
7,595,000 | Gulf Gate Apartments LLC, Series 2003, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 7,595,000 | |
13,405,000 | Hamilton Station Park and Ride, Series 2005, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 13,405,000 | |
14,500,000 | JEA, FL Electric System, (Series Three 2008B-2: Senior Revenue Bonds) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.030%, 8/4/2021 | 14,500,000 | |
16,505,000 | Los Angeles County Fair Association, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/4/2021 | 16,505,000 | |
78,550,000 | Los Angeles, CA Community Redevelopment Agency (DWF V Hollywood & Vine, LP), Tender Option Bond Trust Floater Certificates (2020-MIZ9038) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 0.120%, 8/5/2021 | 78,550,000 | |
9,000,000 | Michael Dennis Sullivan Irrevocable Trust, (Wells Fargo Bank, N.A. LOC), 0.120%, 8/5/2021 | 9,000,000 | |
34,000,000 | Nuveen Floating Rate Income Fund, (Series A), (Sumitomo Mitsui Banking Corp. LOC), 0.190%, 8/5/2021 | 34,000,000 | |
3,775,000 | Public Building Corp. Springfield, MO, Jordan Valley Ice Park, Series 2003, (U.S. Bank, N.A. LOC), 0.190%, 8/5/2021 | 3,775,000 | |
175,000,000 | Royal Bank of Canada, New York Branch, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 175,045,618 | |
125,000,000 | Royal Bank of Canada, New York Branch, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 125,043,071 | |
25,000,000 | Royal Bank of Canada, New York Branch, 0.310% (Effective Fed Funds +0.210%), 8/2/2021 | 25,000,000 | |
18,965,000 | Salem Green, LLP, Salem Green Apartments Project, Series 2010, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 18,965,000 | |
15,000,000 | SSAB AB (publ), Series 2014-B, (Credit Agricole Corporate and Investment Bank LOC), 0.120%, 8/5/2021 | 15,000,000 | |
20,000,000 | SSAB AB (publ), Series 2015-B, (Nordea Bank Abp LOC), 0.120%, 8/5/2021 | 20,000,000 | |
46,892,880 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.410%, 8/2/2021 | 46,892,880 | |
30,000,000 | Toronto Dominion Bank, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 30,014,877 | |
68,300,000 | Triborough Bridge & Tunnel Authority, NY, (Taxable Series E) Weekly VRDNs, (Bank of America N.A. LOC), 0.080%, 8/5/2021 | 68,300,000 | |
4,300,000 | Village Green Finance Co. LLC, (Series 1997), (Wells Fargo Bank, N.A. LOC), 0.090%, 8/4/2021 | 4,300,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 6,485,000 | Yeshivas Novominsk, Series 2008, (TD Bank, N.A. LOC), 0.120%, 8/5/2021 | $6,485,000 | |
TOTAL | 953,487,692 | ||
Government Agency— 1.9% | |||
3,285,000 | 1320 W Jefferson LLC, (FHLB of San Francisco LOC), 0.130%, 8/4/2021 | 3,285,000 | |
31,950,000 | Archer 1 LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 31,950,000 | |
9,015,000 | Austen Children’s Gift Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 9,015,000 | |
6,830,000 | Baker Life Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 6,830,000 | |
13,850,000 | BWF Forge TL Properties Owner LLC, (FHLB of Des Moines LOC)/(FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 13,850,000 | |
5,705,000 | Catania Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,705,000 | |
5,445,000 | Design Center LLC, (FHLB of Pittsburgh LOC), 0.120%, 8/5/2021 | 5,445,000 | |
5,565,000 | Herman & Kittle Capital, LLC, Canterbury House Apartments- Lebanon Project Series 2005, (FHLB of Cincinnati LOC), 0.120%, 8/5/2021 | 5,565,000 | |
32,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 32,000,000 | |
16,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-B, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 16,000,000 | |
4,270,000 | Jim Brooks Irrevocable Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,270,000 | |
11,570,000 | Joseph L. Goggins Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 11,570,000 | |
3,655,000 | Karyn Brooks Descendants Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 3,655,000 | |
6,380,000 | MHF DKF Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,380,000 | |
17,030,000 | Mohr Green Associates L.P., 2012-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 17,030,000 | |
22,610,000 | NWD 2017 Family Trust No. 1, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 22,610,000 | |
19,640,000 | OSL Santa Rosa Fountaingrove LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 19,640,000 | |
9,080,000 | Park Stanton Place LP, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 9,080,000 | |
5,010,000 | R.J. Brooks Jr. Irrevocable Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,010,000 | |
6,980,000 | RK Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,980,000 | |
6,255,000 | Sibley Family Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 6,255,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 6,610,000 | The CLC Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | $6,610,000 | |
5,120,000 | The Eugene Kim Irrevocable Life Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,120,000 | |
22,830,000 | The Gregory P. Berry Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 22,830,000 | |
5,740,000 | The Leopold Family Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,740,000 | |
5,975,000 | The Thompson 2018 Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,975,000 | |
TOTAL | 288,400,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $1,241,732,880) | 1,241,887,692 | ||
U.S. TREASURY— 0.3% | |||
U.S. Treasury Notes— 0.3% | |||
50,000,000 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 (IDENTIFIED COST $50,007,074) | 50,005,817 | |
MUNICIPAL BONDS— 0.2% | |||
Finance - Banking— 0.2% | |||
6,000,000 | California School Finance Authority, (Series 2021 A-1) TRANs, (Citibank N.A., New York LOC), 0.260%, 12/30/2021 | 6,003,311 | |
15,000,000 | California School Finance Authority, (Series 2021 B-1) TRANs, (Citibank N.A., New York LOC), 0.260%, 12/30/2021 | 15,008,277 | |
TOTAL MUNICIPAL BONDS (IDENTIFIED COST $21,000,000) | 21,011,588 | ||
OTHER REPURCHASE AGREEMENTS— 18.6% | |||
Finance - Banking— 18.6% | |||
50,000,000 | BMO Capital Markets Corp., 0.20%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,002,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $153,198,037 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
100,000,000 | BMO Capital Markets Corp., 0.25%, dated 2/8/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,259,904 on 1/10/2022, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $204,307,157 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 26,000,000 | BMO Capital Markets Corp., 0.18%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $102,567,276 have been received as collateral and held with BNY Mellon as tri-party agent. | $26,000,000 | |
15,000,000 | BNP Paribas SA, 0.18%, dated 7/30/2021, interest in a $50,000,000 collateralized loan agreement will repurchase securities provided as collateral for $50,000,750 on 8/2/2021, in which asset-backed securities and sovereign debt with a market value of $51,000,765 have been received as collateral and held with BNY Mellon as tri-party agent. | 15,000,000 | |
160,000,000 | BofA Securities, Inc., 0.12%, dated 7/30/2021, interest in a $160,000,000 collateralized loan agreement will repurchase securities provided as collateral for $160,001,600 on 8/2/2021, in which corporate bonds and medium-term notes with a market value of $163,202,328 have been received as collateral and held with BNY Mellon as tri-party agent. | 160,000,000 | |
163,000,000 | BofA Securities, Inc., 0.14%, dated 7/30/2021, interest in a $213,000,000 collateralized loan agreement will repurchase securities provided as collateral for $213,002,485 on 8/2/2021, in which corporate bonds and medium-term notes with a market value of $217,263,379 have been received as collateral and held with BNY Mellon as tri-party agent. | 163,000,000 | |
250,000,000 | BofA Securities, Inc., 0.70%, dated 9/9/2020, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,437,500 on 11/1/2021, in which American depositary receipts and convertible bonds with a market value of $255,158,533 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
100,000,000 | BofA Securities, Inc., 0.70%, dated 9/4/2020, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,175,000 on 11/1/2021, in which convertible bonds with a market value of $102,064,347 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
80,000,000 | Credit Agricole S.A., 0.22%, dated 7/29/2021, interest in a $170,000,000 collateralized loan agreement will repurchase securities provided as collateral for $170,006,233 on 8/5/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $173,403,197 have been received as collateral and held with BNY Mellon as tri-party agent. | 80,000,000 | |
250,000,000 | Credit Agricole S.A., 0.15%, dated 7/29/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,013,750 on 8/5/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $561,007,598 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 50,000,000 | Credit Suisse Securities (USA) LLC, 0.20%, dated 7/27/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,003,889 on 8/3/2021, in which asset-backed securities and collateralized mortgage obligations with a market value of $102,003,400 have been received as collateral and held with BNY Mellon as tri-party agent. | $50,000,000 | |
34,700,000 | ING Financial Markets LLC, 0.16%, dated 7/30/2021, interest in a $75,000,000 collateralized loan agreement will repurchase securities provided as collateral for $75,001,000 on 8/2/2021, in which common stocks with a market value of $76,501,222 have been received as collateral and held with BNY Mellon as tri-party agent. | 34,700,000 | |
100,000,000 | ING Financial Markets LLC, 0.16%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,333 on 8/2/2021, in which common stocks, corporate bonds and medium-term notes with a market value of $102,001,390 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
115,000,000 | J.P. Morgan Securities LLC, 0.33%, dated 7/20/2021, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,071,042 on 8/20/2021, in which corporate bonds with market value of $255,000,000 have been received as collateral and held with BNY Mellon as tri-party agent. | 115,000,000 | |
80,000,000 | J.P. Morgan Securities LLC, 0.27%, dated 7/27/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,010,500 on 8/3/2021, in which corporate bonds and medium-term notes with market value of $204,000,017 have been received as collateral and held with BNY Mellon as tri-party agent. | 80,000,000 | |
75,000,000 | Mizuho Securities USA, Inc., 0.28%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,003,500 on 8/2/2021, in which common stocks with a market value of $153,003,589 have been received as collateral and held with BNY Mellon as tri-party agent. | 75,000,000 | |
304,177,000 | MUFG Securities Americas, Inc., 0.23%, dated 7/30/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,010,542 on 8/2/2021, in which American depositary receipts, asset-backed securities, commercial paper, common stocks, convertible bonds, corporate bonds, exchange traded funds, municipal bonds and unit investment trust with a market value of $561,010,753 have been received as collateral and held with BNY Mellon as tri-party agent. | 304,177,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 150,000,000 | Pershing LLC., 0.33%, dated 10/30/2020, interest in a $300,000,000 collateralized loan agreement will repurchase securities provided as collateral for $300,019,250 on 8/10/2021, in which asset-backed securities, collateralized mortgage obligations, common stocks, convertible bonds, corporate bonds, exchange traded funds, medium-term notes and municipal bonds with a market value of $306,037,843 have been received as collateral and held with BNY Mellon as tri-party agent. | $150,000,000 | |
125,000,000 | Societe Generale, Paris, 0.14%, dated 7/30/2021, interest in a $350,000,000 collateralized loan agreement will repurchase securities provided as collateral for $350,004,083 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, medium-term notes and sovereign debt with a market value of $357,004,182 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
306,000,000 | Societe Generale, Paris, 0.23%, dated 7/30/2021, interest in a $650,000,000 collateralized loan agreement will repurchase securities provided as collateral for $650,012,458 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,012,713 have been received as collateral and held with BNY Mellon as tri-party agent. | 306,000,000 | |
49,950,000 | Standard Chartered Bank, 0.16%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,333 on 8/2/2021, in which treasury bills, treasury bonds and treasury notes with a market value of $102,009,823 have been received as collateral and held with BNY Mellon as tri-party agent. | 49,950,000 | |
120,000,000 | Wells Fargo Securities LLC, 0.57%, dated 6/1/2020, interest in a $120,000,000 collateralized loan agreement will repurchase securities provided as collateral for $120,171,000 on 10/5/2021, in which convertible bonds with a market value of $122,450,419 have been received as collateral and held with BNY Mellon as tri-party agent. | 120,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 0.59%, dated 5/20/2020, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,221,250 on 10/18/2021, in which convertible bonds with a market value of $153,032,652 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $2,853,827,000) | 2,853,827,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENT— 7.0% | |||
Finance - Banking— 7.0% | |||
$1,072,000,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,013,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency and U.S. Treasury securities with various maturities to 6/1/2051 and the market value of those underlying securities was $3,060,014,025. (IDENTIFIED COST $1,072,000,000) | $1,072,000,000 | |
TOTAL INVESTMENT IN SECURITIES—100.2% (IDENTIFIED COST $15,364,892,768)3 | 15,366,021,707 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.2)%4 | (30,451,658) | ||
TOTAL NET ASSETS—100% | $15,335,570,049 |
1 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
2 | Floating/variable note with current rate and current maturity or next reset date shown. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
3 | Also represents cost of investments for federal tax purposes. |
4 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LLP | —Limited Liability Partnership | |
LOC | —Letter of Credit | |
MHF | —Maryland Housing Fund | |
PLC | —Public Limited Company | |
TRANs | —Tax and Revenue Anticipation Notes | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0007 | $1.0004 | $1.0003 | $1.0003 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0008 | 0.0136 | 0.0239 | 0.0156 | 0.0063 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0003 | 0.0001 | 0.00001 | 0.0011 |
Total From Investment Operations | 0.0006 | 0.0139 | 0.0240 | 0.0156 | 0.0074 |
Less Distributions: | |||||
Distributions from net investment income | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0063) |
Distributions from net realized gain | — | — | — | — | (0.0008) |
Total Distributions | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0071) |
Net Asset Value, End of Period | $1.0005 | $1.0007 | $1.0004 | $1.0003 | $1.0003 |
Total Return2 | 0.05% | 1.39% | 2.43% | 1.57% | 0.66% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.15% | 0.15% | 0.15% | 0.17% | 0.20% |
Net investment income | 0.08% | 1.37% | 2.41% | 1.62% | 0.40% |
Expense waiver/reimbursement4 | 0.13% | 0.13% | 0.13% | 0.12% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $15,298,656 | $23,611,390 | $21,146,776 | $10,941,508 | $787,309 |
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. |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0007 | $1.0004 | $1.0002 | $1.0003 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0001 | 0.0112 | 0.0218 | 0.0134 | 0.0040 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0003 | 0.0002 | 0.00001 | 0.0012 |
Total From Investment Operations | (0.0001) | 0.0115 | 0.0220 | 0.0134 | 0.0052 |
Less Distributions: | |||||
Distributions from net investment income | (0.0001) | (0.0112) | (0.0218) | (0.0135) | (0.0040) |
Distributions from net realized gain | — | — | — | — | (0.0009) |
Total Distributions | (0.0001) | (0.0112) | (0.0218) | (0.0135) | (0.0049) |
Net Asset Value, End of Period | $1.0005 | $1.0007 | $1.0004 | $1.0002 | $1.0003 |
Total Return2 | (0.01)% | 1.15% | 2.22% | 1.35% | 0.43% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.24% | 0.40% | 0.37% | 0.39% | 0.45% |
Net investment income | 0.01% | 1.22% | 2.21% | 1.33% | 0.13% |
Expense waiver/reimbursement4 | 0.28% | 0.13% | 0.13% | 0.12% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $32,413 | $83,818 | $93,979 | $47,817 | $37,873 |
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. |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0008 | $1.0004 | $1.0002 | $1.0002 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0006 | 0.0131 | 0.0234 | 0.0151 | 0.0058 |
Net realized and unrealized gain (loss) | (0.0005) | 0.0004 | 0.0002 | 0.00001 | 0.0010 |
Total From Investment Operations | 0.0001 | 0.0135 | 0.0236 | 0.0151 | 0.0068 |
Less Distributions: | |||||
Distributions from net investment income | (0.0004) | (0.0131) | (0.0234) | (0.0151) | (0.0058) |
Distributions from net realized gain | — | — | — | — | (0.0008) |
Total Distributions | (0.0004) | (0.0131) | (0.0234) | (0.0151) | (0.0066) |
Net Asset Value, End of Period | $1.0005 | $1.0008 | $1.0004 | $1.0002 | $1.0002 |
Total Return2 | 0.01% | 1.35% | 2.39% | 1.52% | 0.60% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.20% | 0.20% | 0.20% | 0.23% | 0.25% |
Net investment income | 0.05% | 1.19% | 2.31% | 1.52% | 0.34% |
Expense waiver/reimbursement4 | 0.13% | 0.13% | 0.13% | 0.12% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $4,501 | $23,527 | $14,374 | $25,206 | $14,549 |
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. |
Institutional Prime Obligations Fund
July 31, 2021
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $3,925,827,000 |
Investment in securities | 11,440,194,707 |
Investment in securities, at value (identified cost $15,364,892,768) | 15,366,021,707 |
Cash | 67,453 |
Income receivable | 3,171,241 |
Receivable for shares sold | 300 |
Total Assets | 15,369,260,701 |
Liabilities: | |
Payable for investments purchased | 32,979,556 |
Income distribution payable | 246,428 |
Payable to adviser (Note 5) | 58,191 |
Payable for administrative fee (Note 5) | 65,628 |
Accrued expenses (Note 5) | 340,849 |
Total Liabilities | 33,690,652 |
Net assets for 15,328,508,710 shares outstanding | $15,335,570,049 |
Net Assets Consist of: | |
Paid-in capital | $15,335,878,936 |
Total distributable earnings (loss) | (308,887) |
Total Net Assets | $15,335,570,049 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$15,298,656,319 ÷ 15,291,612,839 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Service Shares: | |
$32,412,997 ÷ 32,397,419 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Capital Shares: | |
$4,500,733 ÷ 4,498,452 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Institutional Prime Obligations Fund
Year Ended July 31, 2021
Investment Income: | |
Interest | $50,441,015 |
Expenses: | |
Investment adviser fee (Note 5) | 42,764,031 |
Administrative fee (Note 5) | 16,694,080 |
Custodian fees | 676,745 |
Transfer agent fees | 202,735 |
Directors’/Trustees’ fees (Note 5) | 109,459 |
Auditing fees | 23,855 |
Legal fees | 11,904 |
Portfolio accounting fees | 288,703 |
Other service fees (Notes 2 and 5) | 120,259 |
Share registration costs | 22,583 |
Printing and postage | 27,962 |
Miscellaneous (Note 5) | 126,333 |
TOTAL EXPENSES | 61,068,649 |
Waivers and Reimbursement: | |
Waiver of investment adviser fee (Note 5) | (27,827,648) |
Waivers/reimbursement of other operating expenses (Notes 2 and 5) | (71,650) |
TOTAL WAIVERS AND REIMBURSEMENT | (27,899,298) |
Net expenses | 33,169,351 |
Net investment income | 17,271,664 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments | 113,108 |
Net change in unrealized appreciation of investments | (6,131,457) |
Net realized and unrealized gain (loss) on investments | (6,018,349) |
Change in net assets resulting from operations | $11,253,315 |
Institutional Prime Obligations Fund
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $17,271,664 | $321,390,201 |
Net realized gain (loss) | 113,108 | (1,568,343) |
Net change in unrealized appreciation/depreciation | (6,131,457) | 3,688,255 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 11,253,315 | 323,510,113 |
Distributions to Shareholders: | ||
Institutional Shares | (17,245,644) | (319,807,042) |
Service Shares | (4,862) | (1,400,428) |
Capital Shares | (8,147) | (233,170) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (17,258,653) | (321,440,640) |
Share Transactions: | ||
Proceeds from sale of shares | 36,831,815,005 | 63,468,243,391 |
Net asset value of shares issued to shareholders in payment of distributions declared | 3,142,765 | 53,575,799 |
Cost of shares redeemed | (45,212,117,547) | (61,060,281,709) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (8,377,159,777) | 2,461,537,481 |
Change in net assets | (8,383,165,115) | 2,463,606,954 |
Net Assets: | ||
Beginning of period | 23,718,735,164 | 21,255,128,210 |
End of period | $15,335,570,049 | $23,718,735,164 |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $111,765 | $(2,933) | $(68,191) |
Capital Shares | 8,494 | (300) | (226) |
TOTAL | $120,259 | $(3,233) | $(68,417) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 36,196,687,324 | $36,215,427,054 | 62,747,078,555 | $62,773,370,088 |
Shares issued to shareholders in payment of distributions declared | 3,128,894 | 3,130,517 | 52,072,038 | 52,091,304 |
Shares redeemed | (44,503,031,101) | (44,525,308,528) | (60,342,756,540) | (60,362,871,020) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (8,303,214,883) | $(8,306,750,957) | 2,456,394,053 | $2,462,590,372 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 320,686,975 | $320,849,653 | 275,734,832 | $275,819,555 |
Shares issued to shareholders in payment of distributions declared | 4,099 | 4,101 | 1,251,498 | 1,251,881 |
Shares redeemed | (372,056,896) | (372,241,775) | (287,168,204) | (287,257,442) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (51,365,822) | $(51,388,021) | (10,181,874) | $(10,186,006) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 295,358,986 | $295,538,298 | 418,856,851 | $419,053,748 |
Shares issued to shareholders in payment of distributions declared | 8,141 | 8,147 | 232,523 | 232,614 |
Shares redeemed | (314,377,023) | (314,567,244) | (409,949,325) | (410,153,247) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (19,009,896) | $(19,020,799) | 9,140,049 | $9,133,115 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (8,373,590,601) | $(8,377,159,777) | 2,455,352,228 | $2,461,537,481 |
2021 | 2020 | |
Ordinary income | $17,258,653 | $321,440,640 |
Undistributed ordinary income | $17,409 |
Net unrealized appreciation | $1,128,939 |
Capital loss carryforwards and deferrals | $(1,455,235) |
Short-Term | Long-Term | Total |
$1,455,235 | $— | $1,455,235 |
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 |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,000.20 | $20.74 |
Service Shares | $1,000 | $1,000.00 | $30.94 |
Capital Shares | $1,000 | $1,000.00 | $40.94 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,024.05 | $20.75 |
Service Shares | $1,000 | $1,023.85 | $30.95 |
Capital Shares | $1,000 | $1,023.85 | $40.95 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Institutional Shares | 0.15% |
Service Shares | 0.19% |
Capital Shares | 0.19% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Institutional Shares current Fee Limit of 0.20% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.99 and $1.00, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.45% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.23 and $2.26, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Capital Shares current Fee Limit of 0.25% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.24 and $1.25, 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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Deborah A. Cunningham Birth Date: September 15, 1959 CHIEF INVESTMENT OFFICER Officer since: May 2004 Portfolio Manager since: July 1991 | Principal Occupations: Deborah A. Cunningham has been the Fund’s Portfolio Manager since July 1991. Ms. 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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N708
CUSIP 608919767
Share Class | Ticker | Institutional | POIXX |
Federated Hermes Institutional Prime Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
The Share Price will fluctuate. It is possible to lose money by investing in the Fund.
Security Type | Percentage of Total Net Assets |
Commercial Paper | 37.7% |
Bank Instruments | 28.3% |
Other Repurchase Agreements and Repurchase Agreements | 25.6% |
Variable Rate Instruments | 8.1% |
U.S. Treasury Securities | 0.3% |
Municipal Bonds | 0.2% |
Other Assets and Liabilities—Net2 | (0.2)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for more complete information regarding these security types. |
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 Days2 | 46.8% |
8-30 Days | 8.7% |
31-90 Days | 27.6% |
91-180 Days | 9.4% |
181 Days or more | 7.7% |
Other Assets and Liabilities—Net3 | (0.2)% |
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 | Overnight securities comprised 27.1% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— 37.7% | ||
Aerospace/Auto— 0.8% | |||
$ 130,000,000 | Toyota Finance Australia Ltd., (Toyota Motor Corp. SA), 0.200%, 8/10/2021 | $129,993,500 | |
Finance - Banking— 13.3% | |||
92,913,000 | Albion Capital LLC, (MUFG Bank Ltd. LIQ), 0.130% - 0.160%, 8/20/2021 - 9/23/2021 | 92,900,038 | |
50,000,000 | Alpine Securitization LLC, (Credit Suisse AG LIQ), 0.160%, 11/30/2021 | 50,000,000 | |
195,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.110% - 0.241%, 10/27/2021 - 5/6/2022 | 194,906,224 | |
200,000,000 | BPCE SA, 0.140%, 8/3/2021 | 199,998,444 | |
222,000,000 | DNB Bank ASA, 0.070% - 0.080%, 8/2/2021 - 8/30/2021 | 221,987,069 | |
100,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.110%, 10/8/2021 | 99,978,028 | |
50,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.150%, 1/20/2022 | 49,966,650 | |
200,000,000 | Gotham Funding Corp., (MUFG Bank Ltd. LIQ), 0.110%, 10/25/2021 | 199,942,000 | |
50,000,000 | Matchpoint Finance PLC, (BNP Paribas SA LIQ), 0.080%, 9/14/2021 | 49,995,111 | |
114,800,000 | Nationwide Building Society, 0.100%, 8/9/2021 - 8/10/2021 | 114,797,382 | |
70,000,000 | Royal Bank of Canada, 0.210% - 0.241%, 4/14/2022 - 7/7/2022 | 69,872,418 | |
75,000,000 | Sumitomo Mitsui Banking Corp., 0.120%, 10/25/2021 | 74,983,688 | |
50,000,000 | Sumitomo Mitsui Trust Bank Ltd., 0.120%, 11/2/2021 | 49,987,466 | |
440,000,000 | Toronto Dominion Bank, 0.200% - 0.251%, 4/20/2022 - 7/7/2022 | 439,426,579 | |
130,000,000 | Westpac Banking Corp. Ltd., Sydney, 0.231% - 0.241%, 3/11/2022 - 3/24/2022 | 129,888,636 | |
TOTAL | 2,038,629,733 | ||
Finance - Commercial— 3.7% | |||
150,696,000 | Bennington Stark Capital Co., LLC, (Societe Generale, Paris LIQ), 0.110%, 8/30/2021 | 150,682,647 | |
140,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.130%, 12/15/2021 | 140,000,000 | |
100,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/12/2022 | 100,000,000 | |
100,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/24/2022 | 100,000,000 | |
75,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.200%, 10/18/2021 | 75,000,000 | |
TOTAL | 565,682,647 | ||
Finance - Retail— 5.5% | |||
35,000,000 | Barton Capital S.A., 0.100%, 8/25/2021 - 8/27/2021 | 34,997,611 |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Finance - Retail— continued | |||
$ 160,000,000 | Chariot Funding LLC, 0.080%, 9/7/2021 - 9/8/2021 | $159,986,712 | |
27,895,000 | Fairway Finance Co. LLC, 0.180%, 11/16/2021 | 27,884,020 | |
25,000,000 | Old Line Funding, LLC, 0.100%, 2/3/2022 | 24,979,556 | |
92,950,000 | Old Line Funding, LLC, 0.180%, 10/15/2021 | 92,928,926 | |
100,000,000 | Old Line Funding, LLC, 0.180%, 11/5/2021 | 99,969,239 | |
350,000,000 | Sheffield Receivables Company LLC, 0.080% - 0.120%, 8/17/2021 - 10/22/2021 | 349,933,319 | |
45,000,000 | Starbird Funding Corp., 0.110%, 10/22/2021 | 44,987,610 | |
TOTAL | 835,666,993 | ||
Finance - Securities— 11.4% | |||
40,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.150%, 1/4/2022 | 40,012,634 | |
85,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.200%, 10/15/2021 | 85,033,449 | |
88,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.200%, 10/27/2021 | 88,039,156 | |
500,000,000 | Anglesea Funding LLC, 0.070% - 0.140%, 8/2/2021 - 11/15/2021 | 499,915,096 | |
125,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 0.080%, 8/2/2021 | 124,999,722 | |
211,000,000 | Collateralized Commercial Paper FLEX Co., LLC, 0.160% - 0.200%, 8/3/2021 - 1/19/2022 | 210,891,560 | |
290,000,000 | Collateralized Commercial Paper V Co. LLC, 0.080% - 0.220%, 8/2/2021 - 1/5/2022 | 289,910,587 | |
48,500,000 | Longship Funding LLC, (Nordea Bank Abp COL), 0.080%, 9/17/2021 | 48,494,935 | |
365,000,000 | Ridgefield Funding Company, LLC Series A, 0.120%, 10/18/2021 - 11/1/2021 | 364,922,264 | |
TOTAL | 1,752,219,403 | ||
Insurance— 0.4% | |||
59,700,000 | UnitedHealth Group, Inc., 0.110%, 8/18/2021 | 59,696,899 | |
Oil & Oil Finance— 0.4% | |||
50,000,000 | Exxon Mobil Corp., 0.180%, 9/7/2021 | 49,990,750 | |
15,000,000 | Total Capital Canada Ltd., 0.120%, 8/18/2021 | 14,999,150 | |
TOTAL | 64,989,900 | ||
Sovereign— 2.2% | |||
12,000,000 | BNG Bank N.V., 0.070%, 8/4/2021 | 11,999,930 | |
125,000,000 | Erste Abwicklungsanstalt, 0.080%, 9/2/2021 | 124,991,111 | |
50,000,000 | FMS Wertmanagement AoR, 0.110%, 11/1/2021 | 49,986,553 |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Sovereign— continued | |||
$ 150,000,000 | Nederlandse Waterschapsbank NV, 0.110%, 10/29/2021 | $149,957,913 | |
TOTAL | 336,935,507 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $5,783,326,002) | 5,783,814,582 | ||
CERTIFICATES OF DEPOSIT— 19.3% | |||
Finance - Banking— 19.3% | |||
436,200,000 | Bank of Montreal, 0.180% - 0.240%, 9/3/2021 - 7/26/2022 | 436,334,138 | |
115,000,000 | Bank of Nova Scotia, Toronto, 0.250% - 0.290%, 10/7/2021 - 12/10/2021 | 115,042,486 | |
650,000,000 | Canadian Imperial Bank of Commerce, 0.180% - 0.270%, 9/1/2021 - 1/4/2022 | 650,171,693 | |
50,000,000 | Credit Agricole Corporate and Investment Bank, 0.080%, 8/4/2021 | 50,000,000 | |
100,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.110%, 10/8/2021 | 100,003,304 | |
400,000,000 | Mizuho Bank Ltd., 0.100% - 0.150%, 8/6/2021 - 9/2/2021 | 400,000,000 | |
50,000,000 | Royal Bank of Canada, 0.210%, 3/9/2022 | 50,020,295 | |
200,000,000 | Sumitomo Mitsui Banking Corp., 0.110%, 10/15/2021 | 200,004,274 | |
696,800,000 | Sumitomo Mitsui Trust Bank Ltd., 0.080% - 0.150%, 8/11/2021 - 10/22/2021 | 696,802,144 | |
265,000,000 | Toronto Dominion Bank, 0.240% - 0.260%, 10/4/2021 - 4/1/2022 | 265,096,694 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $2,962,999,812) | 2,963,475,028 | ||
TIME DEPOSITS— 9.0% | |||
Finance - Banking— 9.0% | |||
780,000,000 | ABN Amro Bank NV, 0.080% - 0.090%, 8/2/2021 | 780,000,000 | |
500,000,000 | Australia & New Zealand Banking Group, Melbourne, 0.080%, 8/2/2021 | 500,000,000 | |
100,000,000 | Mizuho Bank Ltd., 0.080%, 8/2/2021 | 100,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $1,380,000,000) | 1,380,000,000 | ||
2 | NOTES - VARIABLE— 8.1% | ||
Finance - Banking— 6.2% | |||
100,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.300% (Effective Fed Funds +0.200%), 8/3/2021 | 100,024,809 | |
28,500,000 | Calhoun County, TX Navigation District Environmental Facilities (Formosa Plastic Corp.), (Series 2006) Weekly VRDNs, (Bank of America N.A. LOC), 0.070%, 8/5/2021 | 28,500,000 | |
50,000,000 | Canadian Imperial Bank of Commerce, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 50,026,437 | |
4,860,000 | Centra State Medical Arts Building LLC, (TD Bank, N.A. LOC), 0.140%, 8/5/2021 | 4,860,000 | |
31,000,000 | Clark County, NV Airport System, Subordinate Lien Revenue Bonds (Series 2008 C-2) Weekly VRDNs, (State Street Bank and Trust Co. LOC), 0.030%, 8/4/2021 | 31,000,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 16,700,000 | Greene County Development Authority, Reynolds Lodge, LLC Series 2000B, (U.S. Bank, N.A. LOC), 0.090%, 8/4/2021 | $16,700,000 | |
3,000,000 | Griffin-Spalding County, GA Development Authority, Norcom, Inc. Project 2013A, (Bank of America N.A. LOC), 0.120%, 8/5/2021 | 3,000,000 | |
7,000,000 | Griffin-Spalding County, GA Development Authority, Norcom, Inc. Project, (Bank of America N.A. LOC), 0.120%, 8/5/2021 | 7,000,000 | |
7,595,000 | Gulf Gate Apartments LLC, Series 2003, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 7,595,000 | |
13,405,000 | Hamilton Station Park and Ride, Series 2005, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 13,405,000 | |
14,500,000 | JEA, FL Electric System, (Series Three 2008B-2: Senior Revenue Bonds) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.030%, 8/4/2021 | 14,500,000 | |
16,505,000 | Los Angeles County Fair Association, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/4/2021 | 16,505,000 | |
78,550,000 | Los Angeles, CA Community Redevelopment Agency (DWF V Hollywood & Vine, LP), Tender Option Bond Trust Floater Certificates (2020-MIZ9038) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 0.120%, 8/5/2021 | 78,550,000 | |
9,000,000 | Michael Dennis Sullivan Irrevocable Trust, (Wells Fargo Bank, N.A. LOC), 0.120%, 8/5/2021 | 9,000,000 | |
34,000,000 | Nuveen Floating Rate Income Fund, (Series A), (Sumitomo Mitsui Banking Corp. LOC), 0.190%, 8/5/2021 | 34,000,000 | |
3,775,000 | Public Building Corp. Springfield, MO, Jordan Valley Ice Park, Series 2003, (U.S. Bank, N.A. LOC), 0.190%, 8/5/2021 | 3,775,000 | |
175,000,000 | Royal Bank of Canada, New York Branch, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 175,045,618 | |
125,000,000 | Royal Bank of Canada, New York Branch, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 125,043,071 | |
25,000,000 | Royal Bank of Canada, New York Branch, 0.310% (Effective Fed Funds +0.210%), 8/2/2021 | 25,000,000 | |
18,965,000 | Salem Green, LLP, Salem Green Apartments Project, Series 2010, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 18,965,000 | |
15,000,000 | SSAB AB (publ), Series 2014-B, (Credit Agricole Corporate and Investment Bank LOC), 0.120%, 8/5/2021 | 15,000,000 | |
20,000,000 | SSAB AB (publ), Series 2015-B, (Nordea Bank Abp LOC), 0.120%, 8/5/2021 | 20,000,000 | |
46,892,880 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.410%, 8/2/2021 | 46,892,880 | |
30,000,000 | Toronto Dominion Bank, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 30,014,877 | |
68,300,000 | Triborough Bridge & Tunnel Authority, NY, (Taxable Series E) Weekly VRDNs, (Bank of America N.A. LOC), 0.080%, 8/5/2021 | 68,300,000 | |
4,300,000 | Village Green Finance Co. LLC, (Series 1997), (Wells Fargo Bank, N.A. LOC), 0.090%, 8/4/2021 | 4,300,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 6,485,000 | Yeshivas Novominsk, Series 2008, (TD Bank, N.A. LOC), 0.120%, 8/5/2021 | $6,485,000 | |
TOTAL | 953,487,692 | ||
Government Agency— 1.9% | |||
3,285,000 | 1320 W Jefferson LLC, (FHLB of San Francisco LOC), 0.130%, 8/4/2021 | 3,285,000 | |
31,950,000 | Archer 1 LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 31,950,000 | |
9,015,000 | Austen Children’s Gift Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 9,015,000 | |
6,830,000 | Baker Life Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 6,830,000 | |
13,850,000 | BWF Forge TL Properties Owner LLC, (FHLB of Des Moines LOC)/(FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 13,850,000 | |
5,705,000 | Catania Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,705,000 | |
5,445,000 | Design Center LLC, (FHLB of Pittsburgh LOC), 0.120%, 8/5/2021 | 5,445,000 | |
5,565,000 | Herman & Kittle Capital, LLC, Canterbury House Apartments- Lebanon Project Series 2005, (FHLB of Cincinnati LOC), 0.120%, 8/5/2021 | 5,565,000 | |
32,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 32,000,000 | |
16,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-B, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 16,000,000 | |
4,270,000 | Jim Brooks Irrevocable Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,270,000 | |
11,570,000 | Joseph L. Goggins Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 11,570,000 | |
3,655,000 | Karyn Brooks Descendants Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 3,655,000 | |
6,380,000 | MHF DKF Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,380,000 | |
17,030,000 | Mohr Green Associates L.P., 2012-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 17,030,000 | |
22,610,000 | NWD 2017 Family Trust No. 1, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 22,610,000 | |
19,640,000 | OSL Santa Rosa Fountaingrove LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 19,640,000 | |
9,080,000 | Park Stanton Place LP, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 9,080,000 | |
5,010,000 | R.J. Brooks Jr. Irrevocable Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,010,000 | |
6,980,000 | RK Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,980,000 | |
6,255,000 | Sibley Family Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 6,255,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 6,610,000 | The CLC Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | $6,610,000 | |
5,120,000 | The Eugene Kim Irrevocable Life Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,120,000 | |
22,830,000 | The Gregory P. Berry Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 22,830,000 | |
5,740,000 | The Leopold Family Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,740,000 | |
5,975,000 | The Thompson 2018 Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,975,000 | |
TOTAL | 288,400,000 | ||
�� | TOTAL NOTES - VARIABLE (IDENTIFIED COST $1,241,732,880) | 1,241,887,692 | |
U.S. TREASURY— 0.3% | |||
U.S. Treasury Notes— 0.3% | |||
50,000,000 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 (IDENTIFIED COST $50,007,074) | 50,005,817 | |
MUNICIPAL BONDS— 0.2% | |||
Finance - Banking— 0.2% | |||
6,000,000 | California School Finance Authority, (Series 2021 A-1) TRANs, (Citibank N.A., New York LOC), 0.260%, 12/30/2021 | 6,003,311 | |
15,000,000 | California School Finance Authority, (Series 2021 B-1) TRANs, (Citibank N.A., New York LOC), 0.260%, 12/30/2021 | 15,008,277 | |
TOTAL MUNICIPAL BONDS (IDENTIFIED COST $21,000,000) | 21,011,588 | ||
OTHER REPURCHASE AGREEMENTS— 18.6% | |||
Finance - Banking— 18.6% | |||
50,000,000 | BMO Capital Markets Corp., 0.20%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,002,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $153,198,037 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
100,000,000 | BMO Capital Markets Corp., 0.25%, dated 2/8/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,259,904 on 1/10/2022, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $204,307,157 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 26,000,000 | BMO Capital Markets Corp., 0.18%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $102,567,276 have been received as collateral and held with BNY Mellon as tri-party agent. | $26,000,000 | |
15,000,000 | BNP Paribas SA, 0.18%, dated 7/30/2021, interest in a $50,000,000 collateralized loan agreement will repurchase securities provided as collateral for $50,000,750 on 8/2/2021, in which asset-backed securities and sovereign debt with a market value of $51,000,765 have been received as collateral and held with BNY Mellon as tri-party agent. | 15,000,000 | |
160,000,000 | BofA Securities, Inc., 0.12%, dated 7/30/2021, interest in a $160,000,000 collateralized loan agreement will repurchase securities provided as collateral for $160,001,600 on 8/2/2021, in which corporate bonds and medium-term notes with a market value of $163,202,328 have been received as collateral and held with BNY Mellon as tri-party agent. | 160,000,000 | |
163,000,000 | BofA Securities, Inc., 0.14%, dated 7/30/2021, interest in a $213,000,000 collateralized loan agreement will repurchase securities provided as collateral for $213,002,485 on 8/2/2021, in which corporate bonds and medium-term notes with a market value of $217,263,379 have been received as collateral and held with BNY Mellon as tri-party agent. | 163,000,000 | |
250,000,000 | BofA Securities, Inc., 0.70%, dated 9/9/2020, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,437,500 on 11/1/2021, in which American depositary receipts and convertible bonds with a market value of $255,158,533 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
100,000,000 | BofA Securities, Inc., 0.70%, dated 9/4/2020, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,175,000 on 11/1/2021, in which convertible bonds with a market value of $102,064,347 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
80,000,000 | Credit Agricole S.A., 0.22%, dated 7/29/2021, interest in a $170,000,000 collateralized loan agreement will repurchase securities provided as collateral for $170,006,233 on 8/5/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $173,403,197 have been received as collateral and held with BNY Mellon as tri-party agent. | 80,000,000 | |
250,000,000 | Credit Agricole S.A., 0.15%, dated 7/29/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,013,750 on 8/5/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $561,007,598 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 50,000,000 | Credit Suisse Securities (USA) LLC, 0.20%, dated 7/27/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,003,889 on 8/3/2021, in which asset-backed securities and collateralized mortgage obligations with a market value of $102,003,400 have been received as collateral and held with BNY Mellon as tri-party agent. | $50,000,000 | |
34,700,000 | ING Financial Markets LLC, 0.16%, dated 7/30/2021, interest in a $75,000,000 collateralized loan agreement will repurchase securities provided as collateral for $75,001,000 on 8/2/2021, in which common stocks with a market value of $76,501,222 have been received as collateral and held with BNY Mellon as tri-party agent. | 34,700,000 | |
100,000,000 | ING Financial Markets LLC, 0.16%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,333 on 8/2/2021, in which common stocks, corporate bonds and medium-term notes with a market value of $102,001,390 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
115,000,000 | J.P. Morgan Securities LLC, 0.33%, dated 7/20/2021, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,071,042 on 8/20/2021, in which corporate bonds with market value of $255,000,000 have been received as collateral and held with BNY Mellon as tri-party agent. | 115,000,000 | |
80,000,000 | J.P. Morgan Securities LLC, 0.27%, dated 7/27/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,010,500 on 8/3/2021, in which corporate bonds and medium-term notes with market value of $204,000,017 have been received as collateral and held with BNY Mellon as tri-party agent. | 80,000,000 | |
75,000,000 | Mizuho Securities USA, Inc., 0.28%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,003,500 on 8/2/2021, in which common stocks with a market value of $153,003,589 have been received as collateral and held with BNY Mellon as tri-party agent. | 75,000,000 | |
304,177,000 | MUFG Securities Americas, Inc., 0.23%, dated 7/30/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,010,542 on 8/2/2021, in which American depositary receipts, asset-backed securities, commercial paper, common stocks, convertible bonds, corporate bonds, exchange traded funds, municipal bonds and unit investment trust with a market value of $561,010,753 have been received as collateral and held with BNY Mellon as tri-party agent. | 304,177,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 150,000,000 | Pershing LLC., 0.33%, dated 10/30/2020, interest in a $300,000,000 collateralized loan agreement will repurchase securities provided as collateral for $300,019,250 on 8/10/2021, in which asset-backed securities, collateralized mortgage obligations, common stocks, convertible bonds, corporate bonds, exchange traded funds, medium-term notes and municipal bonds with a market value of $306,037,843 have been received as collateral and held with BNY Mellon as tri-party agent. | $150,000,000 | |
125,000,000 | Societe Generale, Paris, 0.14%, dated 7/30/2021, interest in a $350,000,000 collateralized loan agreement will repurchase securities provided as collateral for $350,004,083 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, medium-term notes and sovereign debt with a market value of $357,004,182 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
306,000,000 | Societe Generale, Paris, 0.23%, dated 7/30/2021, interest in a $650,000,000 collateralized loan agreement will repurchase securities provided as collateral for $650,012,458 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,012,713 have been received as collateral and held with BNY Mellon as tri-party agent. | 306,000,000 | |
49,950,000 | Standard Chartered Bank, 0.16%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,333 on 8/2/2021, in which treasury bills, treasury bonds and treasury notes with a market value of $102,009,823 have been received as collateral and held with BNY Mellon as tri-party agent. | 49,950,000 | |
120,000,000 | Wells Fargo Securities LLC, 0.57%, dated 6/1/2020, interest in a $120,000,000 collateralized loan agreement will repurchase securities provided as collateral for $120,171,000 on 10/5/2021, in which convertible bonds with a market value of $122,450,419 have been received as collateral and held with BNY Mellon as tri-party agent. | 120,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 0.59%, dated 5/20/2020, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,221,250 on 10/18/2021, in which convertible bonds with a market value of $153,032,652 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $2,853,827,000) | 2,853,827,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENT— 7.0% | |||
Finance - Banking— 7.0% | |||
$1,072,000,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,013,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency and U.S. Treasury securities with various maturities to 6/1/2051 and the market value of those underlying securities was $3,060,014,025. (IDENTIFIED COST $1,072,000,000) | $1,072,000,000 | |
TOTAL INVESTMENT IN SECURITIES—100.2% (IDENTIFIED COST $15,364,892,768)3 | 15,366,021,707 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.2)%4 | (30,451,658) | ||
TOTAL NET ASSETS—100% | $15,335,570,049 |
1 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
2 | Floating/variable note with current rate and current maturity or next reset date shown. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
3 | Also represents cost of investments for federal tax purposes. |
4 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LLP | —Limited Liability Partnership | |
LOC | —Letter of Credit | |
MHF | —Maryland Housing Fund | |
PLC | —Public Limited Company | |
TRANs | —Tax and Revenue Anticipation Notes | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0007 | $1.0004 | $1.0003 | $1.0003 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0008 | 0.0136 | 0.0239 | 0.0156 | 0.0063 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0003 | 0.0001 | 0.00001 | 0.0011 |
Total From Investment Operations | 0.0006 | 0.0139 | 0.0240 | 0.0156 | 0.0074 |
Less Distributions: | |||||
Distributions from net investment income | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0063) |
Distributions from net realized gain | — | — | — | — | (0.0008) |
Total Distributions | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0071) |
Net Asset Value, End of Period | $1.0005 | $1.0007 | $1.0004 | $1.0003 | $1.0003 |
Total Return2 | 0.05% | 1.39% | 2.43% | 1.57% | 0.66% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.15% | 0.15% | 0.15% | 0.17% | 0.20% |
Net investment income | 0.08% | 1.37% | 2.41% | 1.62% | 0.40% |
Expense waiver/reimbursement4 | 0.13% | 0.13% | 0.13% | 0.12% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $15,298,656 | $23,611,390 | $21,146,776 | $10,941,508 | $787,309 |
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. |
Institutional Prime Obligations Fund
July 31, 2021
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $3,925,827,000 |
Investment in securities | 11,440,194,707 |
Investment in securities, at value (identified cost $15,364,892,768) | 15,366,021,707 |
Cash | 67,453 |
Income receivable | 3,171,241 |
Receivable for shares sold | 300 |
Total Assets | 15,369,260,701 |
Liabilities: | |
Payable for investments purchased | 32,979,556 |
Income distribution payable | 246,428 |
Payable to adviser (Note 5) | 58,191 |
Payable for administrative fee (Note 5) | 65,628 |
Accrued expenses (Note 5) | 340,849 |
Total Liabilities | 33,690,652 |
Net assets for 15,328,508,710 shares outstanding | $15,335,570,049 |
Net Assets Consist of: | |
Paid-in capital | $15,335,878,936 |
Total distributable earnings (loss) | (308,887) |
Total Net Assets | $15,335,570,049 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$15,298,656,319 ÷ 15,291,612,839 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Service Shares: | |
$32,412,997 ÷ 32,397,419 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Capital Shares: | |
$4,500,733 ÷ 4,498,452 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Institutional Prime Obligations Fund
Year Ended July 31, 2021
Investment Income: | |
Interest | $50,441,015 |
Expenses: | |
Investment adviser fee (Note 5) | 42,764,031 |
Administrative fee (Note 5) | 16,694,080 |
Custodian fees | 676,745 |
Transfer agent fees | 202,735 |
Directors’/Trustees’ fees (Note 5) | 109,459 |
Auditing fees | 23,855 |
Legal fees | 11,904 |
Portfolio accounting fees | 288,703 |
Other service fees (Notes 2 and 5) | 120,259 |
Share registration costs | 22,583 |
Printing and postage | 27,962 |
Miscellaneous (Note 5) | 126,333 |
TOTAL EXPENSES | 61,068,649 |
Waivers and Reimbursement: | |
Waiver of investment adviser fee (Note 5) | (27,827,648) |
Waivers/reimbursement of other operating expenses (Notes 2 and 5) | (71,650) |
TOTAL WAIVERS AND REIMBURSEMENT | (27,899,298) |
Net expenses | 33,169,351 |
Net investment income | 17,271,664 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments | 113,108 |
Net change in unrealized appreciation of investments | (6,131,457) |
Net realized and unrealized gain (loss) on investments | (6,018,349) |
Change in net assets resulting from operations | $11,253,315 |
Institutional Prime Obligations Fund
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $17,271,664 | $321,390,201 |
Net realized gain (loss) | 113,108 | (1,568,343) |
Net change in unrealized appreciation/depreciation | (6,131,457) | 3,688,255 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 11,253,315 | 323,510,113 |
Distributions to Shareholders: | ||
Institutional Shares | (17,245,644) | (319,807,042) |
Service Shares | (4,862) | (1,400,428) |
Capital Shares | (8,147) | (233,170) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (17,258,653) | (321,440,640) |
Share Transactions: | ||
Proceeds from sale of shares | 36,831,815,005 | 63,468,243,391 |
Net asset value of shares issued to shareholders in payment of distributions declared | 3,142,765 | 53,575,799 |
Cost of shares redeemed | (45,212,117,547) | (61,060,281,709) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (8,377,159,777) | 2,461,537,481 |
Change in net assets | (8,383,165,115) | 2,463,606,954 |
Net Assets: | ||
Beginning of period | 23,718,735,164 | 21,255,128,210 |
End of period | $15,335,570,049 | $23,718,735,164 |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $111,765 | $(2,933) | $(68,191) |
Capital Shares | 8,494 | (300) | (226) |
TOTAL | $120,259 | $(3,233) | $(68,417) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 36,196,687,324 | $36,215,427,054 | 62,747,078,555 | $62,773,370,088 |
Shares issued to shareholders in payment of distributions declared | 3,128,894 | 3,130,517 | 52,072,038 | 52,091,304 |
Shares redeemed | (44,503,031,101) | (44,525,308,528) | (60,342,756,540) | (60,362,871,020) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (8,303,214,883) | $(8,306,750,957) | 2,456,394,053 | $2,462,590,372 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 320,686,975 | $320,849,653 | 275,734,832 | $275,819,555 |
Shares issued to shareholders in payment of distributions declared | 4,099 | 4,101 | 1,251,498 | 1,251,881 |
Shares redeemed | (372,056,896) | (372,241,775) | (287,168,204) | (287,257,442) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (51,365,822) | $(51,388,021) | (10,181,874) | $(10,186,006) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 295,358,986 | $295,538,298 | 418,856,851 | $419,053,748 |
Shares issued to shareholders in payment of distributions declared | 8,141 | 8,147 | 232,523 | 232,614 |
Shares redeemed | (314,377,023) | (314,567,244) | (409,949,325) | (410,153,247) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (19,009,896) | $(19,020,799) | 9,140,049 | $9,133,115 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (8,373,590,601) | $(8,377,159,777) | 2,455,352,228 | $2,461,537,481 |
2021 | 2020 | |
Ordinary income | $17,258,653 | $321,440,640 |
Undistributed ordinary income | $17,409 |
Net unrealized appreciation | $1,128,939 |
Capital loss carryforwards and deferrals | $(1,455,235) |
Short-Term | Long-Term | Total |
$1,455,235 | $— | $1,455,235 |
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 |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,000.20 | $20.74 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.05 | $20.75 |
1 | Expenses are equal to the Fund’s Institutional Shares annualized net expense ratio of 0.15%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half-year period). |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Institutional Shares current Fee Limit of 0.20% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.99 and $1.00, 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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Deborah A. Cunningham Birth Date: September 15, 1959 CHIEF INVESTMENT OFFICER Officer since: May 2004 Portfolio Manager since: July 1991 | Principal Occupations: Deborah A. Cunningham has been the Fund’s Portfolio Manager since July 1991. Ms. 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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
Share Class | Ticker | Institutional | PVOXX | Service | PVSXX | Capital | PVCXX |
Federated Hermes Institutional Prime Value Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
The Share Price will fluctuate. It is possible to lose money by investing in the Fund.
Security Type | Percentage of Total Net Assets2 |
Commercial Paper | 37.6% |
Bank Instruments | 28.2% |
Other Repurchase Agreements and Repurchase Agreements | 25.9% |
Variable Rate Instruments | 8.1% |
U.S. Treasury | 0.3% |
Municipal Bonds | 0.1% |
Other Assets and Liabilities—Net3 | (0.2)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for more complete information regarding these security types. |
2 | As of the date specified above, the Fund owned shares of one or more affiliated investment companies. For purposes of this table, the affiliated investment company is not treated as a single portfolio security, but rather the Fund is treated as owning a pro rata portion of each security and each other asset and liability owned by the affiliated investment company. Accordingly, the percentages of total net assets shown in the table will differ from those presented on the Portfolio of Investments. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Shares or Principal Amount | Value | ||
INVESTMENT COMPANY— 99.6% | |||
12,785,754,669 | Federated Hermes Institutional Prime Obligations Fund, Institutional Shares, 0.02%1 (IDENTIFIED COST $12,794,174,146) | $12,792,147,546 | |
OTHER REPURCHASE AGREEMENTS— 0.4% | |||
Finance - Banking— 0.4% | |||
$ 49,000,000 | BMO Capital Markets Corp., 0.18%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium term notes with a market value of $102,567,276 have been received as collateral and held with BNY Mellon as tri-party agent. (IDENTIFIED COST $49,000,000) | 49,000,000 | |
TOTAL INVESTMENT IN SECURITIES—100.0% (IDENTIFIED COST $12,843,174,146)2 | 12,841,147,546 | ||
OTHER ASSETS AND LIABILITIES - NET—0.0%3 | 2,301,685 | ||
TOTAL NET ASSETS—100% | $12,843,449,231 |
Federated Hermes Institutional Prime Obligations Fund, Institutional Shares | |
Value as of 7/31/2020 | $17,506,103,892 |
Purchases at Cost | $13,353,654,525 |
Proceeds from Sales | $(18,063,697,099) |
Change in Unrealized Appreciation/Depreciation | $(6,530,073) |
Net Realized Gain/(Loss) | $2,616,301 |
Value as of 7/31/2021 | $12,792,147,546 |
Shares Held as of 7/31/2021 | 12,785,754,669 |
Dividend Income | $12,640,778 |
1 | 7-day net yield. |
2 | Also represents cost of investments for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following is a summary of the inputs used, as of July 31, 2021, in valuing the Fund’s assets carried at fair value:
Valuation Inputs | ||||
Level 1— Quoted Prices | Level 2— Other Significant Observable Inputs | Level 3— Significant Unobservable Inputs | Total | |
Investment Company | $12,792,147,546 | $— | $— | $12,792,147,546 |
Repurchase Agreement | — | 49,000,000 | — | 49,000,000 |
TOTAL SECURITIES | $12,792,147,546 | $49,000,000 | $— | $12,841,147,546 |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0006 | $1.0003 | $1.0002 | $1.0002 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0008 | 0.0136 | 0.0239 | 0.0156 | 0.0075 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0003 | 0.0001 | (0.0000)1 | 0.0002 |
Total From Investment Operations | 0.0006 | 0.0139 | 0.0240 | 0.0156 | 0.0077 |
Less Distributions: | |||||
Distributions from net investment income | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0075) |
Distributions from net realized gain | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0075) |
Net Asset Value, End of Period | $1.0004 | $1.0006 | $1.0003 | $1.0002 | $1.0002 |
Total Return2 | 0.06% | 1.39% | 2.43% | 1.57% | 0.78% |
Ratios to Average Net Assets: | |||||
Net expenses3 | —% | 0.00%4 | —% | 0.00%4 | 0.20% |
Net investment income | 0.08% | 1.36% | 2.41% | 1.59% | 0.77% |
Expense waiver/reimbursement5 | 0.29% | 0.29% | 0.29% | 0.29% | 0.09% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $12,120,572 | $15,937,441 | $13,599,422 | $6,992,551 | $4,454,446 |
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 | Represents less than 0.01%. |
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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0006 | $1.0003 | $1.0002 | $1.0002 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0002 | 0.0111 | 0.0214 | 0.0131 | 0.0050 |
Net realized and unrealized gain (loss) | (0.0003) | 0.0003 | 0.0001 | (0.0000)1 | 0.0002 |
Total From Investment Operations | (0.0001) | 0.0114 | 0.0215 | 0.0131 | 0.0052 |
Less Distributions: | |||||
Distributions from net investment income | (0.0002) | (0.0111) | (0.0214) | (0.0131) | (0.0050) |
Distributions from net realized gain | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0002) | (0.0111) | (0.0214) | (0.0131) | (0.0050) |
Net Asset Value, End of Period | $1.0003 | $1.0006 | $1.0003 | $1.0002 | $1.0002 |
Total Return2 | (0.01)% | 1.14% | 2.18% | 1.31% | 0.53% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.08% | 0.25% | 0.25% | 0.25% | 0.45% |
Net investment income | 0.01% | 1.04% | 2.20% | 1.26% | 0.34% |
Expense waiver/reimbursement4 | 0.46% | 0.29% | 0.29% | 0.29% | 0.09% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $701,955 | $1,687,886 | $1,055,438 | $186,643 | $129,412 |
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 (loss) ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0006 | $1.0003 | $1.0002 | $1.0002 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0003 | 0.0126 | 0.0230 | 0.0146 | 0.0064 |
Net realized and unrealized gain (loss) | (0.0003) | 0.0003 | (0.0000)1 | (0.0000)1 | 0.0003 |
Total From Investment Operations | — | 0.0129 | 0.0230 | 0.0146 | 0.0067 |
Less Distributions: | |||||
Distributions from net investment income | (0.0003) | (0.0126) | (0.0229) | (0.0146) | (0.0065) |
Distributions from net realized gain | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0003) | (0.0126) | (0.0229) | (0.0146) | (0.0065) |
Net Asset Value, End of Period | $1.0003 | $1.0006 | $1.0003 | $1.0002 | $1.0002 |
Total Return2 | 0.00%3 | 1.29% | 2.33% | 1.47% | 0.68% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.06% | 0.10% | 0.10% | 0.10% | 0.30% |
Net investment income | 0.02% | 1.24% | 2.31% | 1.40% | 0.34% |
Expense waiver/reimbursement5 | 0.33% | 0.29% | 0.29% | 0.29% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $20,922 | $19,074 | $16,566 | $12,185 | $20,587 |
1 | Represents less than $0.0001. |
2 | Based on net asset value. |
3 | Represents less than 0.01%. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
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. |
July 31, 2021
Assets: | |
Investment in securities, at value including $12,792,147,546 of investments in an affiliated holding* (identified cost $12,843,174,146) | $12,841,147,546 |
Cash | 610,928 |
Income receivable | 490 |
Receivable for shares sold | 9,397,367 |
Total Assets | 12,851,156,331 |
Liabilities: | |
Payable for shares redeemed | 7,162,866 |
Income distribution payable | 163,006 |
Payable for investment adviser fee (Note 5) | 48,674 |
Payable for administrative fee (Note 5) | 54,953 |
Accrued expenses (Note 5) | 277,601 |
Total Liabilities | 7,707,100 |
Net assets for 12,838,887,349 shares outstanding | $12,843,449,231 |
Net Assets Consist of: | |
Paid-in capital | $12,844,338,422 |
Total distributable earnings (loss) | (889,191) |
Total Net Assets | $12,843,449,231 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$12,120,572,450 ÷ 12,116,258,568 shares outstanding, no par value, unlimited shares authorized | $1.0004 |
Service Shares: | |
$701,955,222 ÷ 701,714,032 shares outstanding, no par value, unlimited shares authorized | $1.0003 |
Capital Shares: | |
$20,921,559 ÷ 20,914,749 shares outstanding, no par value, unlimited shares authorized | $1.0003 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31, 2021
Investment Income: | |
Dividends received from an affiliated holding* | $12,640,778 |
Interest | 115,043 |
TOTAL INCOME | 12,755,821 |
Expenses: | |
Investment adviser fee (Note 5) | 31,709,049 |
Administrative fee (Note 5) | 12,377,380 |
Custodian fees | 446,396 |
Transfer agent fees | 173,921 |
Directors’/Trustees’ fees (Note 5) | 81,125 |
Auditing fees | 23,856 |
Legal fees | 11,906 |
Portfolio accounting fees | 219,300 |
Other service fees (Notes 2 and 5) | 2,698,721 |
Share registration costs | 156,118 |
Printing and postage | 74,383 |
Miscellaneous (Note 5) | 124,789 |
TOTAL EXPENSES | 48,096,944 |
Waivers and Reimbursements: | |
Waiver/reimbursement of investment adviser fee (Note 5) | (31,709,049) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (15,540,665) |
TOTAL WAIVERS AND REIMBURSEMENTS | (47,249,714) |
Net expenses | 847,230 |
Net investment income | 11,908,591 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments in an affiliated holding* | 2,616,301 |
Net change in unrealized appreciation of investments in an affiliated holding* | (6,530,073) |
Net realized and unrealized gain (loss) on investments | (3,913,772) |
Change in net assets resulting from operations | $7,994,819 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $11,908,591 | $218,126,639 |
Net realized gain (loss) | 2,616,301 | (127,117) |
Net change in unrealized appreciation/depreciation | (6,530,073) | 2,599,630 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 7,994,819 | 220,599,152 |
Distributions to Shareholders: | ||
Institutional Shares | (13,019,895) | (200,644,148) |
Service Shares | (193,751) | (17,315,051) |
Capital Shares | (6,051) | (265,606) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (13,219,697) | (218,224,805) |
Share Transactions: | ||
Proceeds from sale of shares | 49,680,032,925 | 60,672,429,597 |
Net asset value of shares issued to shareholders in payment of distributions declared | 4,229,653 | 80,647,515 |
Cost of shares redeemed | (54,479,989,537) | (57,782,476,083) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (4,795,726,959) | 2,970,601,029 |
Change in net assets | (4,800,951,837) | 2,972,975,376 |
Net Assets: | ||
Beginning of period | 17,644,401,068 | 14,671,425,692 |
End of period | $12,843,449,231 | $17,644,401,068 |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $2,675,918 | $(5,468) | $(1,836,123) |
Capital Shares | 22,803 | (72) | (9,839) |
TOTAL | $2,698,721 | $(5,540) | $(1,845,962) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 48,981,048,371 | $48,998,521,164 | 56,448,762,017 | $56,465,904,443 |
Shares issued to shareholders in payment of distributions declared | 4,030,582 | 4,032,084 | 63,133,165 | 63,148,887 |
Shares redeemed | (52,796,548,875) | (52,814,602,302) | (54,179,307,394) | (54,193,037,585) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (3,811,469,922) | $(3,812,049,054) | 2,332,587,788 | $2,336,015,745 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 664,745,362 | $664,998,659 | 4,188,939,910 | $4,189,946,990 |
Shares issued to shareholders in payment of distributions declared | 192,418 | 192,481 | 17,229,215 | 17,233,068 |
Shares redeemed | (1,650,094,556) | (1,650,722,974) | (3,574,412,272) | (3,575,099,581) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (985,156,776) | $(985,531,834) | 631,756,853 | $632,080,477 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 16,507,178 | $16,513,102 | 16,573,453 | $16,578,164 |
Shares issued to shareholders in payment of distributions declared | 5,086 | 5,088 | 265,498 | 265,560 |
Shares redeemed | (14,659,841) | (14,664,261) | (14,337,106) | (14,338,917) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 1,852,423 | $1,853,929 | 2,501,845 | $2,504,807 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (4,794,774,275) | $(4,795,726,959) | 2,966,846,486 | $2,970,601,029 |
2021 | 2020 | |
Ordinary income1 | $12,030,928 | $218,173,184 |
Long-term capital gains | $1,188,769 | $51,621 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Distributions payable | $(163,006) |
Unrealized depreciation | $(2,026,600) |
Undistributed long-term capital gains | $1,300,415 |
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 |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,000.30 | $2— |
Service Shares | $1,000 | $1,000.10 | $30.15 |
Capital Shares | $1,000 | $1,000.10 | $40.15 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,024.79 | $2— |
Service Shares | $1,000 | $1,024.65 | $30.15 |
Capital Shares | $1,000 | $1,024.65 | $40.15 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Institutional Shares | 0.00% |
Service Shares | 0.03% |
Capital Shares | 0.03% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Institutional Shares current Fee Limit of 0.20% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.99 and $1.00, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.45% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.23 and $2.26, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Capital Shares current Fee Limit of 0.30% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.49 and $1.51, respectively. |
Security Type | Percentage of Total Net Assets |
Commercial Paper | 37.7% |
Bank Instruments | 28.3% |
Other Repurchase Agreements and Repurchase Agreements | 25.6% |
Variable Rate Instruments | 8.1% |
U.S. Treasury Securities | 0.3% |
Municipal Bonds | 0.2% |
Other Assets and Liabilities—Net2 | (0.2)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for more complete information regarding these security types. |
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 Days2 | 46.8% |
8-30 Days | 8.7% |
31-90 Days | 27.6% |
91-180 Days | 9.4% |
181 Days or more | 7.7% |
Other Assets and Liabilities—Net3 | (0.2)% |
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 | Overnight securities comprised 27.1% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— 37.7% | ||
Aerospace/Auto— 0.8% | |||
$ 130,000,000 | Toyota Finance Australia Ltd., (Toyota Motor Corp. SA), 0.200%, 8/10/2021 | $129,993,500 | |
Finance - Banking— 13.3% | |||
92,913,000 | Albion Capital LLC, (MUFG Bank Ltd. LIQ), 0.130% - 0.160%, 8/20/2021 - 9/23/2021 | 92,900,038 | |
50,000,000 | Alpine Securitization LLC, (Credit Suisse AG LIQ), 0.160%, 11/30/2021 | 50,000,000 | |
195,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.110% - 0.241%, 10/27/2021 - 5/6/2022 | 194,906,224 | |
200,000,000 | BPCE SA, 0.140%, 8/3/2021 | 199,998,444 | |
222,000,000 | DNB Bank ASA, 0.070% - 0.080%, 8/2/2021 - 8/30/2021 | 221,987,069 | |
100,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.110%, 10/8/2021 | 99,978,028 | |
50,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.150%, 1/20/2022 | 49,966,650 | |
200,000,000 | Gotham Funding Corp., (MUFG Bank Ltd. LIQ), 0.110%, 10/25/2021 | 199,942,000 | |
50,000,000 | Matchpoint Finance PLC, (BNP Paribas SA LIQ), 0.080%, 9/14/2021 | 49,995,111 | |
114,800,000 | Nationwide Building Society, 0.100%, 8/9/2021 - 8/10/2021 | 114,797,382 | |
70,000,000 | Royal Bank of Canada, 0.210% - 0.241%, 4/14/2022 - 7/7/2022 | 69,872,418 | |
75,000,000 | Sumitomo Mitsui Banking Corp., 0.120%, 10/25/2021 | 74,983,688 | |
50,000,000 | Sumitomo Mitsui Trust Bank Ltd., 0.120%, 11/2/2021 | 49,987,466 | |
440,000,000 | Toronto Dominion Bank, 0.200% - 0.251%, 4/20/2022 - 7/7/2022 | 439,426,579 | |
130,000,000 | Westpac Banking Corp. Ltd., Sydney, 0.231% - 0.241%, 3/11/2022 - 3/24/2022 | 129,888,636 | |
TOTAL | 2,038,629,733 | ||
Finance - Commercial— 3.7% | |||
150,696,000 | Bennington Stark Capital Co., LLC, (Societe Generale, Paris LIQ), 0.110%, 8/30/2021 | 150,682,647 | |
140,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.130%, 12/15/2021 | 140,000,000 | |
100,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/12/2022 | 100,000,000 | |
100,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/24/2022 | 100,000,000 | |
75,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.200%, 10/18/2021 | 75,000,000 | |
TOTAL | 565,682,647 | ||
Finance - Retail— 5.5% | |||
35,000,000 | Barton Capital S.A., 0.100%, 8/25/2021 - 8/27/2021 | 34,997,611 |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Finance - Retail— continued | |||
$ 160,000,000 | Chariot Funding LLC, 0.080%, 9/7/2021 - 9/8/2021 | $159,986,712 | |
27,895,000 | Fairway Finance Co. LLC, 0.180%, 11/16/2021 | 27,884,020 | |
25,000,000 | Old Line Funding, LLC, 0.100%, 2/3/2022 | 24,979,556 | |
92,950,000 | Old Line Funding, LLC, 0.180%, 10/15/2021 | 92,928,926 | |
100,000,000 | Old Line Funding, LLC, 0.180%, 11/5/2021 | 99,969,239 | |
350,000,000 | Sheffield Receivables Company LLC, 0.080% - 0.120%, 8/17/2021 - 10/22/2021 | 349,933,319 | |
45,000,000 | Starbird Funding Corp., 0.110%, 10/22/2021 | 44,987,610 | |
TOTAL | 835,666,993 | ||
Finance - Securities— 11.4% | |||
40,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.150%, 1/4/2022 | 40,012,634 | |
85,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.200%, 10/15/2021 | 85,033,449 | |
88,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.200%, 10/27/2021 | 88,039,156 | |
500,000,000 | Anglesea Funding LLC, 0.070% - 0.140%, 8/2/2021 - 11/15/2021 | 499,915,096 | |
125,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 0.080%, 8/2/2021 | 124,999,722 | |
211,000,000 | Collateralized Commercial Paper FLEX Co., LLC, 0.160% - 0.200%, 8/3/2021 - 1/19/2022 | 210,891,560 | |
290,000,000 | Collateralized Commercial Paper V Co. LLC, 0.080% - 0.220%, 8/2/2021 - 1/5/2022 | 289,910,587 | |
48,500,000 | Longship Funding LLC, (Nordea Bank Abp COL), 0.080%, 9/17/2021 | 48,494,935 | |
365,000,000 | Ridgefield Funding Company, LLC Series A, 0.120%, 10/18/2021 - 11/1/2021 | 364,922,264 | |
TOTAL | 1,752,219,403 | ||
Insurance— 0.4% | |||
59,700,000 | UnitedHealth Group, Inc., 0.110%, 8/18/2021 | 59,696,899 | |
Oil & Oil Finance— 0.4% | |||
50,000,000 | Exxon Mobil Corp., 0.180%, 9/7/2021 | 49,990,750 | |
15,000,000 | Total Capital Canada Ltd., 0.120%, 8/18/2021 | 14,999,150 | |
TOTAL | 64,989,900 | ||
Sovereign— 2.2% | |||
12,000,000 | BNG Bank N.V., 0.070%, 8/4/2021 | 11,999,930 | |
125,000,000 | Erste Abwicklungsanstalt, 0.080%, 9/2/2021 | 124,991,111 | |
50,000,000 | FMS Wertmanagement AoR, 0.110%, 11/1/2021 | 49,986,553 |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Sovereign— continued | |||
$ 150,000,000 | Nederlandse Waterschapsbank NV, 0.110%, 10/29/2021 | $149,957,913 | |
TOTAL | 336,935,507 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $5,783,326,002) | 5,783,814,582 | ||
CERTIFICATES OF DEPOSIT— 19.3% | |||
Finance - Banking— 19.3% | |||
436,200,000 | Bank of Montreal, 0.180% - 0.240%, 9/3/2021 - 7/26/2022 | 436,334,138 | |
115,000,000 | Bank of Nova Scotia, Toronto, 0.250% - 0.290%, 10/7/2021 - 12/10/2021 | 115,042,486 | |
650,000,000 | Canadian Imperial Bank of Commerce, 0.180% - 0.270%, 9/1/2021 - 1/4/2022 | 650,171,693 | |
50,000,000 | Credit Agricole Corporate and Investment Bank, 0.080%, 8/4/2021 | 50,000,000 | |
100,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.110%, 10/8/2021 | 100,003,304 | |
400,000,000 | Mizuho Bank Ltd., 0.100% - 0.150%, 8/6/2021 - 9/2/2021 | 400,000,000 | |
50,000,000 | Royal Bank of Canada, 0.210%, 3/9/2022 | 50,020,295 | |
200,000,000 | Sumitomo Mitsui Banking Corp., 0.110%, 10/15/2021 | 200,004,274 | |
696,800,000 | Sumitomo Mitsui Trust Bank Ltd., 0.080% - 0.150%, 8/11/2021 - 10/22/2021 | 696,802,144 | |
265,000,000 | Toronto Dominion Bank, 0.240% - 0.260%, 10/4/2021 - 4/1/2022 | 265,096,694 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $2,962,999,812) | 2,963,475,028 | ||
TIME DEPOSITS— 9.0% | |||
Finance - Banking— 9.0% | |||
780,000,000 | ABN Amro Bank NV, 0.080% - 0.090%, 8/2/2021 | 780,000,000 | |
500,000,000 | Australia & New Zealand Banking Group, Melbourne, 0.080%, 8/2/2021 | 500,000,000 | |
100,000,000 | Mizuho Bank Ltd., 0.080%, 8/2/2021 | 100,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $1,380,000,000) | 1,380,000,000 | ||
2 | NOTES - VARIABLE— 8.1% | ||
Finance - Banking— 6.2% | |||
100,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.300% (Effective Fed Funds +0.200%), 8/3/2021 | 100,024,809 | |
28,500,000 | Calhoun County, TX Navigation District Environmental Facilities (Formosa Plastic Corp.), (Series 2006) Weekly VRDNs, (Bank of America N.A. LOC), 0.070%, 8/5/2021 | 28,500,000 | |
50,000,000 | Canadian Imperial Bank of Commerce, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 50,026,437 | |
4,860,000 | Centra State Medical Arts Building LLC, (TD Bank, N.A. LOC), 0.140%, 8/5/2021 | 4,860,000 | |
31,000,000 | Clark County, NV Airport System, Subordinate Lien Revenue Bonds (Series 2008 C-2) Weekly VRDNs, (State Street Bank and Trust Co. LOC), 0.030%, 8/4/2021 | 31,000,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 16,700,000 | Greene County Development Authority, Reynolds Lodge, LLC Series 2000B, (U.S. Bank, N.A. LOC), 0.090%, 8/4/2021 | $16,700,000 | |
3,000,000 | Griffin-Spalding County, GA Development Authority, Norcom, Inc. Project 2013A, (Bank of America N.A. LOC), 0.120%, 8/5/2021 | 3,000,000 | |
7,000,000 | Griffin-Spalding County, GA Development Authority, Norcom, Inc. Project, (Bank of America N.A. LOC), 0.120%, 8/5/2021 | 7,000,000 | |
7,595,000 | Gulf Gate Apartments LLC, Series 2003, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 7,595,000 | |
13,405,000 | Hamilton Station Park and Ride, Series 2005, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 13,405,000 | |
14,500,000 | JEA, FL Electric System, (Series Three 2008B-2: Senior Revenue Bonds) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.030%, 8/4/2021 | 14,500,000 | |
16,505,000 | Los Angeles County Fair Association, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/4/2021 | 16,505,000 | |
78,550,000 | Los Angeles, CA Community Redevelopment Agency (DWF V Hollywood & Vine, LP), Tender Option Bond Trust Floater Certificates (2020-MIZ9038) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 0.120%, 8/5/2021 | 78,550,000 | |
9,000,000 | Michael Dennis Sullivan Irrevocable Trust, (Wells Fargo Bank, N.A. LOC), 0.120%, 8/5/2021 | 9,000,000 | |
34,000,000 | Nuveen Floating Rate Income Fund, (Series A), (Sumitomo Mitsui Banking Corp. LOC), 0.190%, 8/5/2021 | 34,000,000 | |
3,775,000 | Public Building Corp. Springfield, MO, Jordan Valley Ice Park, Series 2003, (U.S. Bank, N.A. LOC), 0.190%, 8/5/2021 | 3,775,000 | |
175,000,000 | Royal Bank of Canada, New York Branch, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 175,045,618 | |
125,000,000 | Royal Bank of Canada, New York Branch, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 125,043,071 | |
25,000,000 | Royal Bank of Canada, New York Branch, 0.310% (Effective Fed Funds +0.210%), 8/2/2021 | 25,000,000 | |
18,965,000 | Salem Green, LLP, Salem Green Apartments Project, Series 2010, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 18,965,000 | |
15,000,000 | SSAB AB (publ), Series 2014-B, (Credit Agricole Corporate and Investment Bank LOC), 0.120%, 8/5/2021 | 15,000,000 | |
20,000,000 | SSAB AB (publ), Series 2015-B, (Nordea Bank Abp LOC), 0.120%, 8/5/2021 | 20,000,000 | |
46,892,880 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.410%, 8/2/2021 | 46,892,880 | |
30,000,000 | Toronto Dominion Bank, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 30,014,877 | |
68,300,000 | Triborough Bridge & Tunnel Authority, NY, (Taxable Series E) Weekly VRDNs, (Bank of America N.A. LOC), 0.080%, 8/5/2021 | 68,300,000 | |
4,300,000 | Village Green Finance Co. LLC, (Series 1997), (Wells Fargo Bank, N.A. LOC), 0.090%, 8/4/2021 | 4,300,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 6,485,000 | Yeshivas Novominsk, Series 2008, (TD Bank, N.A. LOC), 0.120%, 8/5/2021 | $6,485,000 | |
TOTAL | 953,487,692 | ||
Government Agency— 1.9% | |||
3,285,000 | 1320 W Jefferson LLC, (FHLB of San Francisco LOC), 0.130%, 8/4/2021 | 3,285,000 | |
31,950,000 | Archer 1 LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 31,950,000 | |
9,015,000 | Austen Children’s Gift Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 9,015,000 | |
6,830,000 | Baker Life Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 6,830,000 | |
13,850,000 | BWF Forge TL Properties Owner LLC, (FHLB of Des Moines LOC)/(FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 13,850,000 | |
5,705,000 | Catania Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,705,000 | |
5,445,000 | Design Center LLC, (FHLB of Pittsburgh LOC), 0.120%, 8/5/2021 | 5,445,000 | |
5,565,000 | Herman & Kittle Capital, LLC, Canterbury House Apartments- Lebanon Project Series 2005, (FHLB of Cincinnati LOC), 0.120%, 8/5/2021 | 5,565,000 | |
32,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 32,000,000 | |
16,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-B, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 16,000,000 | |
4,270,000 | Jim Brooks Irrevocable Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,270,000 | |
11,570,000 | Joseph L. Goggins Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 11,570,000 | |
3,655,000 | Karyn Brooks Descendants Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 3,655,000 | |
6,380,000 | MHF DKF Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,380,000 | |
17,030,000 | Mohr Green Associates L.P., 2012-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 17,030,000 | |
22,610,000 | NWD 2017 Family Trust No. 1, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 22,610,000 | |
19,640,000 | OSL Santa Rosa Fountaingrove LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 19,640,000 | |
9,080,000 | Park Stanton Place LP, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 9,080,000 | |
5,010,000 | R.J. Brooks Jr. Irrevocable Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,010,000 | |
6,980,000 | RK Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,980,000 | |
6,255,000 | Sibley Family Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 6,255,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 6,610,000 | The CLC Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | $6,610,000 | |
5,120,000 | The Eugene Kim Irrevocable Life Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,120,000 | |
22,830,000 | The Gregory P. Berry Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 22,830,000 | |
5,740,000 | The Leopold Family Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,740,000 | |
5,975,000 | The Thompson 2018 Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,975,000 | |
TOTAL | 288,400,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $1,241,732,880) | 1,241,887,692 | ||
U.S. TREASURY— 0.3% | |||
U.S. Treasury Notes— 0.3% | |||
50,000,000 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 (IDENTIFIED COST $50,007,074) | 50,005,817 | |
MUNICIPAL BONDS— 0.2% | |||
Finance - Banking— 0.2% | |||
6,000,000 | California School Finance Authority, (Series 2021 A-1) TRANs, (Citibank N.A., New York LOC), 0.260%, 12/30/2021 | 6,003,311 | |
15,000,000 | California School Finance Authority, (Series 2021 B-1) TRANs, (Citibank N.A., New York LOC), 0.260%, 12/30/2021 | 15,008,277 | |
TOTAL MUNICIPAL BONDS (IDENTIFIED COST $21,000,000) | 21,011,588 | ||
OTHER REPURCHASE AGREEMENTS— 18.6% | |||
Finance - Banking— 18.6% | |||
50,000,000 | BMO Capital Markets Corp., 0.20%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,002,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $153,198,037 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
100,000,000 | BMO Capital Markets Corp., 0.25%, dated 2/8/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,259,904 on 1/10/2022, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $204,307,157 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 26,000,000 | BMO Capital Markets Corp., 0.18%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $102,567,276 have been received as collateral and held with BNY Mellon as tri-party agent. | $26,000,000 | |
15,000,000 | BNP Paribas SA, 0.18%, dated 7/30/2021, interest in a $50,000,000 collateralized loan agreement will repurchase securities provided as collateral for $50,000,750 on 8/2/2021, in which asset-backed securities and sovereign debt with a market value of $51,000,765 have been received as collateral and held with BNY Mellon as tri-party agent. | 15,000,000 | |
160,000,000 | BofA Securities, Inc., 0.12%, dated 7/30/2021, interest in a $160,000,000 collateralized loan agreement will repurchase securities provided as collateral for $160,001,600 on 8/2/2021, in which corporate bonds and medium-term notes with a market value of $163,202,328 have been received as collateral and held with BNY Mellon as tri-party agent. | 160,000,000 | |
163,000,000 | BofA Securities, Inc., 0.14%, dated 7/30/2021, interest in a $213,000,000 collateralized loan agreement will repurchase securities provided as collateral for $213,002,485 on 8/2/2021, in which corporate bonds and medium-term notes with a market value of $217,263,379 have been received as collateral and held with BNY Mellon as tri-party agent. | 163,000,000 | |
250,000,000 | BofA Securities, Inc., 0.70%, dated 9/9/2020, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,437,500 on 11/1/2021, in which American depositary receipts and convertible bonds with a market value of $255,158,533 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
100,000,000 | BofA Securities, Inc., 0.70%, dated 9/4/2020, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,175,000 on 11/1/2021, in which convertible bonds with a market value of $102,064,347 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
80,000,000 | Credit Agricole S.A., 0.22%, dated 7/29/2021, interest in a $170,000,000 collateralized loan agreement will repurchase securities provided as collateral for $170,006,233 on 8/5/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $173,403,197 have been received as collateral and held with BNY Mellon as tri-party agent. | 80,000,000 | |
250,000,000 | Credit Agricole S.A., 0.15%, dated 7/29/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,013,750 on 8/5/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $561,007,598 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 50,000,000 | Credit Suisse Securities (USA) LLC, 0.20%, dated 7/27/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,003,889 on 8/3/2021, in which asset-backed securities and collateralized mortgage obligations with a market value of $102,003,400 have been received as collateral and held with BNY Mellon as tri-party agent. | $50,000,000 | |
34,700,000 | ING Financial Markets LLC, 0.16%, dated 7/30/2021, interest in a $75,000,000 collateralized loan agreement will repurchase securities provided as collateral for $75,001,000 on 8/2/2021, in which common stocks with a market value of $76,501,222 have been received as collateral and held with BNY Mellon as tri-party agent. | 34,700,000 | |
100,000,000 | ING Financial Markets LLC, 0.16%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,333 on 8/2/2021, in which common stocks, corporate bonds and medium-term notes with a market value of $102,001,390 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
115,000,000 | J.P. Morgan Securities LLC, 0.33%, dated 7/20/2021, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,071,042 on 8/20/2021, in which corporate bonds with market value of $255,000,000 have been received as collateral and held with BNY Mellon as tri-party agent. | 115,000,000 | |
80,000,000 | J.P. Morgan Securities LLC, 0.27%, dated 7/27/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,010,500 on 8/3/2021, in which corporate bonds and medium-term notes with market value of $204,000,017 have been received as collateral and held with BNY Mellon as tri-party agent. | 80,000,000 | |
75,000,000 | Mizuho Securities USA, Inc., 0.28%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,003,500 on 8/2/2021, in which common stocks with a market value of $153,003,589 have been received as collateral and held with BNY Mellon as tri-party agent. | 75,000,000 | |
304,177,000 | MUFG Securities Americas, Inc., 0.23%, dated 7/30/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,010,542 on 8/2/2021, in which American depositary receipts, asset-backed securities, commercial paper, common stocks, convertible bonds, corporate bonds, exchange traded funds, municipal bonds and unit investment trust with a market value of $561,010,753 have been received as collateral and held with BNY Mellon as tri-party agent. | 304,177,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 150,000,000 | Pershing LLC., 0.33%, dated 10/30/2020, interest in a $300,000,000 collateralized loan agreement will repurchase securities provided as collateral for $300,019,250 on 8/10/2021, in which asset-backed securities, collateralized mortgage obligations, common stocks, convertible bonds, corporate bonds, exchange traded funds, medium-term notes and municipal bonds with a market value of $306,037,843 have been received as collateral and held with BNY Mellon as tri-party agent. | $150,000,000 | |
125,000,000 | Societe Generale, Paris, 0.14%, dated 7/30/2021, interest in a $350,000,000 collateralized loan agreement will repurchase securities provided as collateral for $350,004,083 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, medium-term notes and sovereign debt with a market value of $357,004,182 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
306,000,000 | Societe Generale, Paris, 0.23%, dated 7/30/2021, interest in a $650,000,000 collateralized loan agreement will repurchase securities provided as collateral for $650,012,458 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,012,713 have been received as collateral and held with BNY Mellon as tri-party agent. | 306,000,000 | |
49,950,000 | Standard Chartered Bank, 0.16%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,333 on 8/2/2021, in which treasury bills, treasury bonds and treasury notes with a market value of $102,009,823 have been received as collateral and held with BNY Mellon as tri-party agent. | 49,950,000 | |
120,000,000 | Wells Fargo Securities LLC, 0.57%, dated 6/1/2020, interest in a $120,000,000 collateralized loan agreement will repurchase securities provided as collateral for $120,171,000 on 10/5/2021, in which convertible bonds with a market value of $122,450,419 have been received as collateral and held with BNY Mellon as tri-party agent. | 120,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 0.59%, dated 5/20/2020, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,221,250 on 10/18/2021, in which convertible bonds with a market value of $153,032,652 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $2,853,827,000) | 2,853,827,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENT— 7.0% | |||
Finance - Banking— 7.0% | |||
$1,072,000,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,013,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency and U.S. Treasury securities with various maturities to 6/1/2051 and the market value of those underlying securities was $3,060,014,025. (IDENTIFIED COST $1,072,000,000) | $1,072,000,000 | |
TOTAL INVESTMENT IN SECURITIES—100.2% (IDENTIFIED COST $15,364,892,768)3 | 15,366,021,707 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.2)%4 | (30,451,658) | ||
TOTAL NET ASSETS—100% | $15,335,570,049 |
1 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
2 | Floating/variable note with current rate and current maturity or next reset date shown. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
3 | Also represents cost of investments for federal tax purposes. |
4 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LLP | —Limited Liability Partnership | |
LOC | —Letter of Credit | |
MHF | —Maryland Housing Fund | |
PLC | —Public Limited Company | |
TRANs | —Tax and Revenue Anticipation Notes | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0007 | $1.0004 | $1.0003 | $1.0003 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0008 | 0.0136 | 0.0239 | 0.0156 | 0.0063 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0003 | 0.0001 | 0.00001 | 0.0011 |
Total From Investment Operations | 0.0006 | 0.0139 | 0.0240 | 0.0156 | 0.0074 |
Less Distributions: | |||||
Distributions from net investment income | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0063) |
Distributions from net realized gain | — | — | — | — | (0.0008) |
Total Distributions | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0071) |
Net Asset Value, End of Period | $1.0005 | $1.0007 | $1.0004 | $1.0003 | $1.0003 |
Total Return2 | 0.05% | 1.39% | 2.43% | 1.57% | 0.66% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.15% | 0.15% | 0.15% | 0.17% | 0.20% |
Net investment income | 0.08% | 1.37% | 2.41% | 1.62% | 0.40% |
Expense waiver/reimbursement4 | 0.13% | 0.13% | 0.13% | 0.12% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $15,298,656 | $23,611,390 | $21,146,776 | $10,941,508 | $787,309 |
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. |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0007 | $1.0004 | $1.0002 | $1.0003 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0001 | 0.0112 | 0.0218 | 0.0134 | 0.0040 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0003 | 0.0002 | 0.00001 | 0.0012 |
Total From Investment Operations | (0.0001) | 0.0115 | 0.0220 | 0.0134 | 0.0052 |
Less Distributions: | |||||
Distributions from net investment income | (0.0001) | (0.0112) | (0.0218) | (0.0135) | (0.0040) |
Distributions from net realized gain | — | — | — | — | (0.0009) |
Total Distributions | (0.0001) | (0.0112) | (0.0218) | (0.0135) | (0.0049) |
Net Asset Value, End of Period | $1.0005 | $1.0007 | $1.0004 | $1.0002 | $1.0003 |
Total Return2 | (0.01)% | 1.15% | 2.22% | 1.35% | 0.43% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.24% | 0.40% | 0.37% | 0.39% | 0.45% |
Net investment income | 0.01% | 1.22% | 2.21% | 1.33% | 0.13% |
Expense waiver/reimbursement4 | 0.28% | 0.13% | 0.13% | 0.12% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $32,413 | $83,818 | $93,979 | $47,817 | $37,873 |
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. |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0008 | $1.0004 | $1.0002 | $1.0002 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0006 | 0.0131 | 0.0234 | 0.0151 | 0.0058 |
Net realized and unrealized gain (loss) | (0.0005) | 0.0004 | 0.0002 | 0.00001 | 0.0010 |
Total From Investment Operations | 0.0001 | 0.0135 | 0.0236 | 0.0151 | 0.0068 |
Less Distributions: | |||||
Distributions from net investment income | (0.0004) | (0.0131) | (0.0234) | (0.0151) | (0.0058) |
Distributions from net realized gain | — | — | — | — | (0.0008) |
Total Distributions | (0.0004) | (0.0131) | (0.0234) | (0.0151) | (0.0066) |
Net Asset Value, End of Period | $1.0005 | $1.0008 | $1.0004 | $1.0002 | $1.0002 |
Total Return2 | 0.01% | 1.35% | 2.39% | 1.52% | 0.60% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.20% | 0.20% | 0.20% | 0.23% | 0.25% |
Net investment income | 0.05% | 1.19% | 2.31% | 1.52% | 0.34% |
Expense waiver/reimbursement4 | 0.13% | 0.13% | 0.13% | 0.12% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $4,501 | $23,527 | $14,374 | $25,206 | $14,549 |
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. |
Institutional Prime Obligations Fund
July 31, 2021
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $3,925,827,000 |
Investment in securities | 11,440,194,707 |
Investment in securities, at value (identified cost $15,364,892,768) | 15,366,021,707 |
Cash | 67,453 |
Income receivable | 3,171,241 |
Receivable for shares sold | 300 |
Total Assets | 15,369,260,701 |
Liabilities: | |
Payable for investments purchased | 32,979,556 |
Income distribution payable | 246,428 |
Payable to adviser (Note 5) | 58,191 |
Payable for administrative fee (Note 5) | 65,628 |
Accrued expenses (Note 5) | 340,849 |
Total Liabilities | 33,690,652 |
Net assets for 15,328,508,710 shares outstanding | $15,335,570,049 |
Net Assets Consist of: | |
Paid-in capital | $15,335,878,936 |
Total distributable earnings (loss) | (308,887) |
Total Net Assets | $15,335,570,049 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$15,298,656,319 ÷ 15,291,612,839 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Service Shares: | |
$32,412,997 ÷ 32,397,419 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Capital Shares: | |
$4,500,733 ÷ 4,498,452 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Institutional Prime Obligations Fund
Year Ended July 31, 2021
Investment Income: | |
Interest | $50,441,015 |
Expenses: | |
Investment adviser fee (Note 5) | 42,764,031 |
Administrative fee (Note 5) | 16,694,080 |
Custodian fees | 676,745 |
Transfer agent fees | 202,735 |
Directors’/Trustees’ fees (Note 5) | 109,459 |
Auditing fees | 23,855 |
Legal fees | 11,904 |
Portfolio accounting fees | 288,703 |
Other service fees (Notes 2 and 5) | 120,259 |
Share registration costs | 22,583 |
Printing and postage | 27,962 |
Miscellaneous (Note 5) | 126,333 |
TOTAL EXPENSES | 61,068,649 |
Waivers and Reimbursement: | |
Waiver of investment adviser fee (Note 5) | (27,827,648) |
Waivers/reimbursement of other operating expenses (Notes 2 and 5) | (71,650) |
TOTAL WAIVERS AND REIMBURSEMENT | (27,899,298) |
Net expenses | 33,169,351 |
Net investment income | 17,271,664 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments | 113,108 |
Net change in unrealized appreciation of investments | (6,131,457) |
Net realized and unrealized gain (loss) on investments | (6,018,349) |
Change in net assets resulting from operations | $11,253,315 |
Institutional Prime Obligations Fund
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $17,271,664 | $321,390,201 |
Net realized gain (loss) | 113,108 | (1,568,343) |
Net change in unrealized appreciation/depreciation | (6,131,457) | 3,688,255 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 11,253,315 | 323,510,113 |
Distributions to Shareholders: | ||
Institutional Shares | (17,245,644) | (319,807,042) |
Service Shares | (4,862) | (1,400,428) |
Capital Shares | (8,147) | (233,170) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (17,258,653) | (321,440,640) |
Share Transactions: | ||
Proceeds from sale of shares | 36,831,815,005 | 63,468,243,391 |
Net asset value of shares issued to shareholders in payment of distributions declared | 3,142,765 | 53,575,799 |
Cost of shares redeemed | (45,212,117,547) | (61,060,281,709) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (8,377,159,777) | 2,461,537,481 |
Change in net assets | (8,383,165,115) | 2,463,606,954 |
Net Assets: | ||
Beginning of period | 23,718,735,164 | 21,255,128,210 |
End of period | $15,335,570,049 | $23,718,735,164 |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $111,765 | $(2,933) | $(68,191) |
Capital Shares | 8,494 | (300) | (226) |
TOTAL | $120,259 | $(3,233) | $(68,417) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 36,196,687,324 | $36,215,427,054 | 62,747,078,555 | $62,773,370,088 |
Shares issued to shareholders in payment of distributions declared | 3,128,894 | 3,130,517 | 52,072,038 | 52,091,304 |
Shares redeemed | (44,503,031,101) | (44,525,308,528) | (60,342,756,540) | (60,362,871,020) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (8,303,214,883) | $(8,306,750,957) | 2,456,394,053 | $2,462,590,372 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 320,686,975 | $320,849,653 | 275,734,832 | $275,819,555 |
Shares issued to shareholders in payment of distributions declared | 4,099 | 4,101 | 1,251,498 | 1,251,881 |
Shares redeemed | (372,056,896) | (372,241,775) | (287,168,204) | (287,257,442) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (51,365,822) | $(51,388,021) | (10,181,874) | $(10,186,006) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 295,358,986 | $295,538,298 | 418,856,851 | $419,053,748 |
Shares issued to shareholders in payment of distributions declared | 8,141 | 8,147 | 232,523 | 232,614 |
Shares redeemed | (314,377,023) | (314,567,244) | (409,949,325) | (410,153,247) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (19,009,896) | $(19,020,799) | 9,140,049 | $9,133,115 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (8,373,590,601) | $(8,377,159,777) | 2,455,352,228 | $2,461,537,481 |
2021 | 2020 | |
Ordinary income | $17,258,653 | $321,440,640 |
Undistributed ordinary income | $17,409 |
Net unrealized appreciation | $1,128,939 |
Capital loss carryforwards and deferrals | $(1,455,235) |
Short-Term | Long-Term | Total |
$1,455,235 | $— | $1,455,235 |
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 |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,000.20 | $20.74 |
Service Shares | $1,000 | $1,000.00 | $30.94 |
Capital Shares | $1,000 | $1,000.00 | $40.94 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,024.05 | $20.75 |
Service Shares | $1,000 | $1,023.85 | $30.95 |
Capital Shares | $1,000 | $1,023.85 | $40.95 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Institutional Shares | 0.15% |
Service Shares | 0.19% |
Capital Shares | 0.19% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Institutional Shares current Fee Limit of 0.20% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.99 and $1.00, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.45% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.23 and $2.26, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Capital Shares current Fee Limit of 0.25% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.24 and $1.25, 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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 Portfolio Manager since: November 1996 | Principal Occupations: Deborah A. Cunningham has been the Fund’s Portfolio Manager since November 1996. Ms. 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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N575
CUSIP 60934N567
Share Class | Ticker | Institutional | PVOXX |
Federated Hermes Institutional Prime Value Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
The Share Price will fluctuate. It is possible to lose money by investing in the Fund.
Security Type | Percentage of Total Net Assets2 |
Commercial Paper | 37.6% |
Bank Instruments | 28.2% |
Other Repurchase Agreements and Repurchase Agreements | 25.9% |
Variable Rate Instruments | 8.1% |
U.S. Treasury | 0.3% |
Municipal Bonds | 0.1% |
Other Assets and Liabilities—Net3 | (0.2)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for more complete information regarding these security types. |
2 | As of the date specified above, the Fund owned shares of one or more affiliated investment companies. For purposes of this table, the affiliated investment company is not treated as a single portfolio security, but rather the Fund is treated as owning a pro rata portion of each security and each other asset and liability owned by the affiliated investment company. Accordingly, the percentages of total net assets shown in the table will differ from those presented on the Portfolio of Investments. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Shares or Principal Amount | Value | ||
INVESTMENT COMPANY— 99.6% | |||
12,785,754,669 | Federated Hermes Institutional Prime Obligations Fund, Institutional Shares, 0.02%1 (IDENTIFIED COST $12,794,174,146) | $12,792,147,546 | |
OTHER REPURCHASE AGREEMENTS— 0.4% | |||
Finance - Banking— 0.4% | |||
$ 49,000,000 | BMO Capital Markets Corp., 0.18%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium term notes with a market value of $102,567,276 have been received as collateral and held with BNY Mellon as tri-party agent. (IDENTIFIED COST $49,000,000) | 49,000,000 | |
TOTAL INVESTMENT IN SECURITIES—100.0% (IDENTIFIED COST $12,843,174,146)2 | 12,841,147,546 | ||
OTHER ASSETS AND LIABILITIES - NET—0.0%3 | 2,301,685 | ||
TOTAL NET ASSETS—100% | $12,843,449,231 |
Federated Hermes Institutional Prime Obligations Fund, Institutional Shares | |
Value as of 7/31/2020 | $17,506,103,892 |
Purchases at Cost | $13,353,654,525 |
Proceeds from Sales | $(18,063,697,099) |
Change in Unrealized Appreciation/Depreciation | $(6,530,073) |
Net Realized Gain/(Loss) | $2,616,301 |
Value as of 7/31/2021 | $12,792,147,546 |
Shares Held as of 7/31/2021 | 12,785,754,669 |
Dividend Income | $12,640,778 |
1 | 7-day net yield. |
2 | Also represents cost of investments for federal tax purposes. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following is a summary of the inputs used, as of July 31, 2021, in valuing the Fund’s assets carried at fair value:
Valuation Inputs | ||||
Level 1— Quoted Prices | Level 2— Other Significant Observable Inputs | Level 3— Significant Unobservable Inputs | Total | |
Investment Company | $12,792,147,546 | $— | $— | $12,792,147,546 |
Repurchase Agreement | — | 49,000,000 | — | 49,000,000 |
TOTAL SECURITIES | $12,792,147,546 | $49,000,000 | $— | $12,841,147,546 |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0006 | $1.0003 | $1.0002 | $1.0002 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0008 | 0.0136 | 0.0239 | 0.0156 | 0.0075 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0003 | 0.0001 | (0.0000)1 | 0.0002 |
Total From Investment Operations | 0.0006 | 0.0139 | 0.0240 | 0.0156 | 0.0077 |
Less Distributions: | |||||
Distributions from net investment income | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0075) |
Distributions from net realized gain | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0075) |
Net Asset Value, End of Period | $1.0004 | $1.0006 | $1.0003 | $1.0002 | $1.0002 |
Total Return2 | 0.06% | 1.39% | 2.43% | 1.57% | 0.78% |
Ratios to Average Net Assets: | |||||
Net expenses3 | —% | 0.00%4 | —% | 0.00%4 | 0.20% |
Net investment income | 0.08% | 1.36% | 2.41% | 1.59% | 0.77% |
Expense waiver/reimbursement5 | 0.29% | 0.29% | 0.29% | 0.29% | 0.09% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $12,120,572 | $15,937,441 | $13,599,422 | $6,992,551 | $4,454,446 |
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 | Represents less than 0.01%. |
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. |
July 31, 2021
Assets: | |
Investment in securities, at value including $12,792,147,546 of investments in an affiliated holding* (identified cost $12,843,174,146) | $12,841,147,546 |
Cash | 610,928 |
Income receivable | 490 |
Receivable for shares sold | 9,397,367 |
Total Assets | 12,851,156,331 |
Liabilities: | |
Payable for shares redeemed | 7,162,866 |
Income distribution payable | 163,006 |
Payable for investment adviser fee (Note 5) | 48,674 |
Payable for administrative fee (Note 5) | 54,953 |
Accrued expenses (Note 5) | 277,601 |
Total Liabilities | 7,707,100 |
Net assets for 12,838,887,349 shares outstanding | $12,843,449,231 |
Net Assets Consist of: | |
Paid-in capital | $12,844,338,422 |
Total distributable earnings (loss) | (889,191) |
Total Net Assets | $12,843,449,231 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$12,120,572,450 ÷ 12,116,258,568 shares outstanding, no par value, unlimited shares authorized | $1.0004 |
Service Shares: | |
$701,955,222 ÷ 701,714,032 shares outstanding, no par value, unlimited shares authorized | $1.0003 |
Capital Shares: | |
$20,921,559 ÷ 20,914,749 shares outstanding, no par value, unlimited shares authorized | $1.0003 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31, 2021
Investment Income: | |
Dividends received from an affiliated holding* | $12,640,778 |
Interest | 115,043 |
TOTAL INCOME | 12,755,821 |
Expenses: | |
Investment adviser fee (Note 5) | 31,709,049 |
Administrative fee (Note 5) | 12,377,380 |
Custodian fees | 446,396 |
Transfer agent fees | 173,921 |
Directors’/Trustees’ fees (Note 5) | 81,125 |
Auditing fees | 23,856 |
Legal fees | 11,906 |
Portfolio accounting fees | 219,300 |
Other service fees (Notes 2 and 5) | 2,698,721 |
Share registration costs | 156,118 |
Printing and postage | 74,383 |
Miscellaneous (Note 5) | 124,789 |
TOTAL EXPENSES | 48,096,944 |
Waivers and Reimbursements: | |
Waiver/reimbursement of investment adviser fee (Note 5) | (31,709,049) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (15,540,665) |
TOTAL WAIVERS AND REIMBURSEMENTS | (47,249,714) |
Net expenses | 847,230 |
Net investment income | 11,908,591 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments in an affiliated holding* | 2,616,301 |
Net change in unrealized appreciation of investments in an affiliated holding* | (6,530,073) |
Net realized and unrealized gain (loss) on investments | (3,913,772) |
Change in net assets resulting from operations | $7,994,819 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $11,908,591 | $218,126,639 |
Net realized gain (loss) | 2,616,301 | (127,117) |
Net change in unrealized appreciation/depreciation | (6,530,073) | 2,599,630 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 7,994,819 | 220,599,152 |
Distributions to Shareholders: | ||
Institutional Shares | (13,019,895) | (200,644,148) |
Service Shares | (193,751) | (17,315,051) |
Capital Shares | (6,051) | (265,606) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (13,219,697) | (218,224,805) |
Share Transactions: | ||
Proceeds from sale of shares | 49,680,032,925 | 60,672,429,597 |
Net asset value of shares issued to shareholders in payment of distributions declared | 4,229,653 | 80,647,515 |
Cost of shares redeemed | (54,479,989,537) | (57,782,476,083) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (4,795,726,959) | 2,970,601,029 |
Change in net assets | (4,800,951,837) | 2,972,975,376 |
Net Assets: | ||
Beginning of period | 17,644,401,068 | 14,671,425,692 |
End of period | $12,843,449,231 | $17,644,401,068 |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $2,675,918 | $(5,468) | $(1,836,123) |
Capital Shares | 22,803 | (72) | (9,839) |
TOTAL | $2,698,721 | $(5,540) | $(1,845,962) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 48,981,048,371 | $48,998,521,164 | 56,448,762,017 | $56,465,904,443 |
Shares issued to shareholders in payment of distributions declared | 4,030,582 | 4,032,084 | 63,133,165 | 63,148,887 |
Shares redeemed | (52,796,548,875) | (52,814,602,302) | (54,179,307,394) | (54,193,037,585) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (3,811,469,922) | $(3,812,049,054) | 2,332,587,788 | $2,336,015,745 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 664,745,362 | $664,998,659 | 4,188,939,910 | $4,189,946,990 |
Shares issued to shareholders in payment of distributions declared | 192,418 | 192,481 | 17,229,215 | 17,233,068 |
Shares redeemed | (1,650,094,556) | (1,650,722,974) | (3,574,412,272) | (3,575,099,581) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (985,156,776) | $(985,531,834) | 631,756,853 | $632,080,477 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 16,507,178 | $16,513,102 | 16,573,453 | $16,578,164 |
Shares issued to shareholders in payment of distributions declared | 5,086 | 5,088 | 265,498 | 265,560 |
Shares redeemed | (14,659,841) | (14,664,261) | (14,337,106) | (14,338,917) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 1,852,423 | $1,853,929 | 2,501,845 | $2,504,807 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (4,794,774,275) | $(4,795,726,959) | 2,966,846,486 | $2,970,601,029 |
2021 | 2020 | |
Ordinary income1 | $12,030,928 | $218,173,184 |
Long-term capital gains | $1,188,769 | $51,621 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Distributions payable | $(163,006) |
Unrealized depreciation | $(2,026,600) |
Undistributed long-term capital gains | $1,300,415 |
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 |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,000.30 | $2— |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.79 | $2— |
1 | Expenses are equal to the Fund’s Institutional Shares annualized net expense ratio of 0.00%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half-year period). |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Institutional Shares current Fee Limit of 0.20% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.99 and $1.00, respectively. |
Security Type | Percentage of Total Net Assets |
Commercial Paper | 37.7% |
Bank Instruments | 28.3% |
Other Repurchase Agreements and Repurchase Agreements | 25.6% |
Variable Rate Instruments | 8.1% |
U.S. Treasury Securities | 0.3% |
Municipal Bonds | 0.2% |
Other Assets and Liabilities—Net2 | (0.2)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for more complete information regarding these security types. |
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 Days2 | 46.8% |
8-30 Days | 8.7% |
31-90 Days | 27.6% |
91-180 Days | 9.4% |
181 Days or more | 7.7% |
Other Assets and Liabilities—Net3 | (0.2)% |
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 | Overnight securities comprised 27.1% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— 37.7% | ||
Aerospace/Auto— 0.8% | |||
$ 130,000,000 | Toyota Finance Australia Ltd., (Toyota Motor Corp. SA), 0.200%, 8/10/2021 | $129,993,500 | |
Finance - Banking— 13.3% | |||
92,913,000 | Albion Capital LLC, (MUFG Bank Ltd. LIQ), 0.130% - 0.160%, 8/20/2021 - 9/23/2021 | 92,900,038 | |
50,000,000 | Alpine Securitization LLC, (Credit Suisse AG LIQ), 0.160%, 11/30/2021 | 50,000,000 | |
195,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.110% - 0.241%, 10/27/2021 - 5/6/2022 | 194,906,224 | |
200,000,000 | BPCE SA, 0.140%, 8/3/2021 | 199,998,444 | |
222,000,000 | DNB Bank ASA, 0.070% - 0.080%, 8/2/2021 - 8/30/2021 | 221,987,069 | |
100,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.110%, 10/8/2021 | 99,978,028 | |
50,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.150%, 1/20/2022 | 49,966,650 | |
200,000,000 | Gotham Funding Corp., (MUFG Bank Ltd. LIQ), 0.110%, 10/25/2021 | 199,942,000 | |
50,000,000 | Matchpoint Finance PLC, (BNP Paribas SA LIQ), 0.080%, 9/14/2021 | 49,995,111 | |
114,800,000 | Nationwide Building Society, 0.100%, 8/9/2021 - 8/10/2021 | 114,797,382 | |
70,000,000 | Royal Bank of Canada, 0.210% - 0.241%, 4/14/2022 - 7/7/2022 | 69,872,418 | |
75,000,000 | Sumitomo Mitsui Banking Corp., 0.120%, 10/25/2021 | 74,983,688 | |
50,000,000 | Sumitomo Mitsui Trust Bank Ltd., 0.120%, 11/2/2021 | 49,987,466 | |
440,000,000 | Toronto Dominion Bank, 0.200% - 0.251%, 4/20/2022 - 7/7/2022 | 439,426,579 | |
130,000,000 | Westpac Banking Corp. Ltd., Sydney, 0.231% - 0.241%, 3/11/2022 - 3/24/2022 | 129,888,636 | |
TOTAL | 2,038,629,733 | ||
Finance - Commercial— 3.7% | |||
150,696,000 | Bennington Stark Capital Co., LLC, (Societe Generale, Paris LIQ), 0.110%, 8/30/2021 | 150,682,647 | |
140,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.130%, 12/15/2021 | 140,000,000 | |
100,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/12/2022 | 100,000,000 | |
100,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.150%, 1/24/2022 | 100,000,000 | |
75,000,000 | Crown Point Capital Co., LLC, (Credit Suisse AG LIQ), 0.200%, 10/18/2021 | 75,000,000 | |
TOTAL | 565,682,647 | ||
Finance - Retail— 5.5% | |||
35,000,000 | Barton Capital S.A., 0.100%, 8/25/2021 - 8/27/2021 | 34,997,611 |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Finance - Retail— continued | |||
$ 160,000,000 | Chariot Funding LLC, 0.080%, 9/7/2021 - 9/8/2021 | $159,986,712 | |
27,895,000 | Fairway Finance Co. LLC, 0.180%, 11/16/2021 | 27,884,020 | |
25,000,000 | Old Line Funding, LLC, 0.100%, 2/3/2022 | 24,979,556 | |
92,950,000 | Old Line Funding, LLC, 0.180%, 10/15/2021 | 92,928,926 | |
100,000,000 | Old Line Funding, LLC, 0.180%, 11/5/2021 | 99,969,239 | |
350,000,000 | Sheffield Receivables Company LLC, 0.080% - 0.120%, 8/17/2021 - 10/22/2021 | 349,933,319 | |
45,000,000 | Starbird Funding Corp., 0.110%, 10/22/2021 | 44,987,610 | |
TOTAL | 835,666,993 | ||
Finance - Securities— 11.4% | |||
40,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.150%, 1/4/2022 | 40,012,634 | |
85,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.200%, 10/15/2021 | 85,033,449 | |
88,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(Citigroup Global Markets, Inc. COL)/(HSBC Bank PLC COL)/(Societe Generale, Paris COL), 0.200%, 10/27/2021 | 88,039,156 | |
500,000,000 | Anglesea Funding LLC, 0.070% - 0.140%, 8/2/2021 - 11/15/2021 | 499,915,096 | |
125,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 0.080%, 8/2/2021 | 124,999,722 | |
211,000,000 | Collateralized Commercial Paper FLEX Co., LLC, 0.160% - 0.200%, 8/3/2021 - 1/19/2022 | 210,891,560 | |
290,000,000 | Collateralized Commercial Paper V Co. LLC, 0.080% - 0.220%, 8/2/2021 - 1/5/2022 | 289,910,587 | |
48,500,000 | Longship Funding LLC, (Nordea Bank Abp COL), 0.080%, 9/17/2021 | 48,494,935 | |
365,000,000 | Ridgefield Funding Company, LLC Series A, 0.120%, 10/18/2021 - 11/1/2021 | 364,922,264 | |
TOTAL | 1,752,219,403 | ||
Insurance— 0.4% | |||
59,700,000 | UnitedHealth Group, Inc., 0.110%, 8/18/2021 | 59,696,899 | |
Oil & Oil Finance— 0.4% | |||
50,000,000 | Exxon Mobil Corp., 0.180%, 9/7/2021 | 49,990,750 | |
15,000,000 | Total Capital Canada Ltd., 0.120%, 8/18/2021 | 14,999,150 | |
TOTAL | 64,989,900 | ||
Sovereign— 2.2% | |||
12,000,000 | BNG Bank N.V., 0.070%, 8/4/2021 | 11,999,930 | |
125,000,000 | Erste Abwicklungsanstalt, 0.080%, 9/2/2021 | 124,991,111 | |
50,000,000 | FMS Wertmanagement AoR, 0.110%, 11/1/2021 | 49,986,553 |
Principal Amount | Value | ||
1 | COMMERCIAL PAPER— continued | ||
Sovereign— continued | |||
$ 150,000,000 | Nederlandse Waterschapsbank NV, 0.110%, 10/29/2021 | $149,957,913 | |
TOTAL | 336,935,507 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $5,783,326,002) | 5,783,814,582 | ||
CERTIFICATES OF DEPOSIT— 19.3% | |||
Finance - Banking— 19.3% | |||
436,200,000 | Bank of Montreal, 0.180% - 0.240%, 9/3/2021 - 7/26/2022 | 436,334,138 | |
115,000,000 | Bank of Nova Scotia, Toronto, 0.250% - 0.290%, 10/7/2021 - 12/10/2021 | 115,042,486 | |
650,000,000 | Canadian Imperial Bank of Commerce, 0.180% - 0.270%, 9/1/2021 - 1/4/2022 | 650,171,693 | |
50,000,000 | Credit Agricole Corporate and Investment Bank, 0.080%, 8/4/2021 | 50,000,000 | |
100,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 0.110%, 10/8/2021 | 100,003,304 | |
400,000,000 | Mizuho Bank Ltd., 0.100% - 0.150%, 8/6/2021 - 9/2/2021 | 400,000,000 | |
50,000,000 | Royal Bank of Canada, 0.210%, 3/9/2022 | 50,020,295 | |
200,000,000 | Sumitomo Mitsui Banking Corp., 0.110%, 10/15/2021 | 200,004,274 | |
696,800,000 | Sumitomo Mitsui Trust Bank Ltd., 0.080% - 0.150%, 8/11/2021 - 10/22/2021 | 696,802,144 | |
265,000,000 | Toronto Dominion Bank, 0.240% - 0.260%, 10/4/2021 - 4/1/2022 | 265,096,694 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $2,962,999,812) | 2,963,475,028 | ||
TIME DEPOSITS— 9.0% | |||
Finance - Banking— 9.0% | |||
780,000,000 | ABN Amro Bank NV, 0.080% - 0.090%, 8/2/2021 | 780,000,000 | |
500,000,000 | Australia & New Zealand Banking Group, Melbourne, 0.080%, 8/2/2021 | 500,000,000 | |
100,000,000 | Mizuho Bank Ltd., 0.080%, 8/2/2021 | 100,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $1,380,000,000) | 1,380,000,000 | ||
2 | NOTES - VARIABLE— 8.1% | ||
Finance - Banking— 6.2% | |||
100,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 0.300% (Effective Fed Funds +0.200%), 8/3/2021 | 100,024,809 | |
28,500,000 | Calhoun County, TX Navigation District Environmental Facilities (Formosa Plastic Corp.), (Series 2006) Weekly VRDNs, (Bank of America N.A. LOC), 0.070%, 8/5/2021 | 28,500,000 | |
50,000,000 | Canadian Imperial Bank of Commerce, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 50,026,437 | |
4,860,000 | Centra State Medical Arts Building LLC, (TD Bank, N.A. LOC), 0.140%, 8/5/2021 | 4,860,000 | |
31,000,000 | Clark County, NV Airport System, Subordinate Lien Revenue Bonds (Series 2008 C-2) Weekly VRDNs, (State Street Bank and Trust Co. LOC), 0.030%, 8/4/2021 | 31,000,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 16,700,000 | Greene County Development Authority, Reynolds Lodge, LLC Series 2000B, (U.S. Bank, N.A. LOC), 0.090%, 8/4/2021 | $16,700,000 | |
3,000,000 | Griffin-Spalding County, GA Development Authority, Norcom, Inc. Project 2013A, (Bank of America N.A. LOC), 0.120%, 8/5/2021 | 3,000,000 | |
7,000,000 | Griffin-Spalding County, GA Development Authority, Norcom, Inc. Project, (Bank of America N.A. LOC), 0.120%, 8/5/2021 | 7,000,000 | |
7,595,000 | Gulf Gate Apartments LLC, Series 2003, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 7,595,000 | |
13,405,000 | Hamilton Station Park and Ride, Series 2005, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 13,405,000 | |
14,500,000 | JEA, FL Electric System, (Series Three 2008B-2: Senior Revenue Bonds) Weekly VRDNs, (Royal Bank of Canada LIQ), 0.030%, 8/4/2021 | 14,500,000 | |
16,505,000 | Los Angeles County Fair Association, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/4/2021 | 16,505,000 | |
78,550,000 | Los Angeles, CA Community Redevelopment Agency (DWF V Hollywood & Vine, LP), Tender Option Bond Trust Floater Certificates (2020-MIZ9038) Weekly VRDNs, (GTD by FHLMC)/(Mizuho Bank Ltd. LIQ), 0.120%, 8/5/2021 | 78,550,000 | |
9,000,000 | Michael Dennis Sullivan Irrevocable Trust, (Wells Fargo Bank, N.A. LOC), 0.120%, 8/5/2021 | 9,000,000 | |
34,000,000 | Nuveen Floating Rate Income Fund, (Series A), (Sumitomo Mitsui Banking Corp. LOC), 0.190%, 8/5/2021 | 34,000,000 | |
3,775,000 | Public Building Corp. Springfield, MO, Jordan Valley Ice Park, Series 2003, (U.S. Bank, N.A. LOC), 0.190%, 8/5/2021 | 3,775,000 | |
175,000,000 | Royal Bank of Canada, New York Branch, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 175,045,618 | |
125,000,000 | Royal Bank of Canada, New York Branch, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 125,043,071 | |
25,000,000 | Royal Bank of Canada, New York Branch, 0.310% (Effective Fed Funds +0.210%), 8/2/2021 | 25,000,000 | |
18,965,000 | Salem Green, LLP, Salem Green Apartments Project, Series 2010, (Wells Fargo Bank, N.A. LOC), 0.090%, 8/5/2021 | 18,965,000 | |
15,000,000 | SSAB AB (publ), Series 2014-B, (Credit Agricole Corporate and Investment Bank LOC), 0.120%, 8/5/2021 | 15,000,000 | |
20,000,000 | SSAB AB (publ), Series 2015-B, (Nordea Bank Abp LOC), 0.120%, 8/5/2021 | 20,000,000 | |
46,892,880 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (GTD by Mizuho Bank Ltd.)/(Mizuho Bank Ltd. LIQ), 0.410%, 8/2/2021 | 46,892,880 | |
30,000,000 | Toronto Dominion Bank, 0.250% (Secured Overnight Financing Rate +0.200%), 8/2/2021 | 30,014,877 | |
68,300,000 | Triborough Bridge & Tunnel Authority, NY, (Taxable Series E) Weekly VRDNs, (Bank of America N.A. LOC), 0.080%, 8/5/2021 | 68,300,000 | |
4,300,000 | Village Green Finance Co. LLC, (Series 1997), (Wells Fargo Bank, N.A. LOC), 0.090%, 8/4/2021 | 4,300,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 6,485,000 | Yeshivas Novominsk, Series 2008, (TD Bank, N.A. LOC), 0.120%, 8/5/2021 | $6,485,000 | |
TOTAL | 953,487,692 | ||
Government Agency— 1.9% | |||
3,285,000 | 1320 W Jefferson LLC, (FHLB of San Francisco LOC), 0.130%, 8/4/2021 | 3,285,000 | |
31,950,000 | Archer 1 LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 31,950,000 | |
9,015,000 | Austen Children’s Gift Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 9,015,000 | |
6,830,000 | Baker Life Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 6,830,000 | |
13,850,000 | BWF Forge TL Properties Owner LLC, (FHLB of Des Moines LOC)/(FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 13,850,000 | |
5,705,000 | Catania Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,705,000 | |
5,445,000 | Design Center LLC, (FHLB of Pittsburgh LOC), 0.120%, 8/5/2021 | 5,445,000 | |
5,565,000 | Herman & Kittle Capital, LLC, Canterbury House Apartments- Lebanon Project Series 2005, (FHLB of Cincinnati LOC), 0.120%, 8/5/2021 | 5,565,000 | |
32,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 32,000,000 | |
16,000,000 | HW Hellman Building, L.P., HW Hellman Building Apartments Project Series 2015-B, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 16,000,000 | |
4,270,000 | Jim Brooks Irrevocable Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 4,270,000 | |
11,570,000 | Joseph L. Goggins Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 11,570,000 | |
3,655,000 | Karyn Brooks Descendants Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 3,655,000 | |
6,380,000 | MHF DKF Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,380,000 | |
17,030,000 | Mohr Green Associates L.P., 2012-A, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 17,030,000 | |
22,610,000 | NWD 2017 Family Trust No. 1, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 22,610,000 | |
19,640,000 | OSL Santa Rosa Fountaingrove LLC, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 19,640,000 | |
9,080,000 | Park Stanton Place LP, (FHLB of San Francisco LOC), 0.130%, 8/5/2021 | 9,080,000 | |
5,010,000 | R.J. Brooks Jr. Irrevocable Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,010,000 | |
6,980,000 | RK Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 6,980,000 | |
6,255,000 | Sibley Family Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 6,255,000 |
Principal Amount | Value | ||
2 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 6,610,000 | The CLC Irrevocable Insurance Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | $6,610,000 | |
5,120,000 | The Eugene Kim Irrevocable Life Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,120,000 | |
22,830,000 | The Gregory P. Berry Trust, (FHLB of Des Moines LOC), 0.120%, 8/5/2021 | 22,830,000 | |
5,740,000 | The Leopold Family Insurance Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,740,000 | |
5,975,000 | The Thompson 2018 Family Trust, (FHLB of Dallas LOC), 0.120%, 8/5/2021 | 5,975,000 | |
TOTAL | 288,400,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $1,241,732,880) | 1,241,887,692 | ||
U.S. TREASURY— 0.3% | |||
U.S. Treasury Notes— 0.3% | |||
50,000,000 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 (IDENTIFIED COST $50,007,074) | 50,005,817 | |
MUNICIPAL BONDS— 0.2% | |||
Finance - Banking— 0.2% | |||
6,000,000 | California School Finance Authority, (Series 2021 A-1) TRANs, (Citibank N.A., New York LOC), 0.260%, 12/30/2021 | 6,003,311 | |
15,000,000 | California School Finance Authority, (Series 2021 B-1) TRANs, (Citibank N.A., New York LOC), 0.260%, 12/30/2021 | 15,008,277 | |
TOTAL MUNICIPAL BONDS (IDENTIFIED COST $21,000,000) | 21,011,588 | ||
OTHER REPURCHASE AGREEMENTS— 18.6% | |||
Finance - Banking— 18.6% | |||
50,000,000 | BMO Capital Markets Corp., 0.20%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,002,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $153,198,037 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
100,000,000 | BMO Capital Markets Corp., 0.25%, dated 2/8/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,259,904 on 1/10/2022, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $204,307,157 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 26,000,000 | BMO Capital Markets Corp., 0.18%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,500 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $102,567,276 have been received as collateral and held with BNY Mellon as tri-party agent. | $26,000,000 | |
15,000,000 | BNP Paribas SA, 0.18%, dated 7/30/2021, interest in a $50,000,000 collateralized loan agreement will repurchase securities provided as collateral for $50,000,750 on 8/2/2021, in which asset-backed securities and sovereign debt with a market value of $51,000,765 have been received as collateral and held with BNY Mellon as tri-party agent. | 15,000,000 | |
160,000,000 | BofA Securities, Inc., 0.12%, dated 7/30/2021, interest in a $160,000,000 collateralized loan agreement will repurchase securities provided as collateral for $160,001,600 on 8/2/2021, in which corporate bonds and medium-term notes with a market value of $163,202,328 have been received as collateral and held with BNY Mellon as tri-party agent. | 160,000,000 | |
163,000,000 | BofA Securities, Inc., 0.14%, dated 7/30/2021, interest in a $213,000,000 collateralized loan agreement will repurchase securities provided as collateral for $213,002,485 on 8/2/2021, in which corporate bonds and medium-term notes with a market value of $217,263,379 have been received as collateral and held with BNY Mellon as tri-party agent. | 163,000,000 | |
250,000,000 | BofA Securities, Inc., 0.70%, dated 9/9/2020, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,437,500 on 11/1/2021, in which American depositary receipts and convertible bonds with a market value of $255,158,533 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
100,000,000 | BofA Securities, Inc., 0.70%, dated 9/4/2020, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,175,000 on 11/1/2021, in which convertible bonds with a market value of $102,064,347 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
80,000,000 | Credit Agricole S.A., 0.22%, dated 7/29/2021, interest in a $170,000,000 collateralized loan agreement will repurchase securities provided as collateral for $170,006,233 on 8/5/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $173,403,197 have been received as collateral and held with BNY Mellon as tri-party agent. | 80,000,000 | |
250,000,000 | Credit Agricole S.A., 0.15%, dated 7/29/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,013,750 on 8/5/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $561,007,598 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 50,000,000 | Credit Suisse Securities (USA) LLC, 0.20%, dated 7/27/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,003,889 on 8/3/2021, in which asset-backed securities and collateralized mortgage obligations with a market value of $102,003,400 have been received as collateral and held with BNY Mellon as tri-party agent. | $50,000,000 | |
34,700,000 | ING Financial Markets LLC, 0.16%, dated 7/30/2021, interest in a $75,000,000 collateralized loan agreement will repurchase securities provided as collateral for $75,001,000 on 8/2/2021, in which common stocks with a market value of $76,501,222 have been received as collateral and held with BNY Mellon as tri-party agent. | 34,700,000 | |
100,000,000 | ING Financial Markets LLC, 0.16%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,333 on 8/2/2021, in which common stocks, corporate bonds and medium-term notes with a market value of $102,001,390 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
115,000,000 | J.P. Morgan Securities LLC, 0.33%, dated 7/20/2021, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,071,042 on 8/20/2021, in which corporate bonds with market value of $255,000,000 have been received as collateral and held with BNY Mellon as tri-party agent. | 115,000,000 | |
80,000,000 | J.P. Morgan Securities LLC, 0.27%, dated 7/27/2021, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,010,500 on 8/3/2021, in which corporate bonds and medium-term notes with market value of $204,000,017 have been received as collateral and held with BNY Mellon as tri-party agent. | 80,000,000 | |
75,000,000 | Mizuho Securities USA, Inc., 0.28%, dated 7/30/2021, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,003,500 on 8/2/2021, in which common stocks with a market value of $153,003,589 have been received as collateral and held with BNY Mellon as tri-party agent. | 75,000,000 | |
304,177,000 | MUFG Securities Americas, Inc., 0.23%, dated 7/30/2021, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,010,542 on 8/2/2021, in which American depositary receipts, asset-backed securities, commercial paper, common stocks, convertible bonds, corporate bonds, exchange traded funds, municipal bonds and unit investment trust with a market value of $561,010,753 have been received as collateral and held with BNY Mellon as tri-party agent. | 304,177,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 150,000,000 | Pershing LLC., 0.33%, dated 10/30/2020, interest in a $300,000,000 collateralized loan agreement will repurchase securities provided as collateral for $300,019,250 on 8/10/2021, in which asset-backed securities, collateralized mortgage obligations, common stocks, convertible bonds, corporate bonds, exchange traded funds, medium-term notes and municipal bonds with a market value of $306,037,843 have been received as collateral and held with BNY Mellon as tri-party agent. | $150,000,000 | |
125,000,000 | Societe Generale, Paris, 0.14%, dated 7/30/2021, interest in a $350,000,000 collateralized loan agreement will repurchase securities provided as collateral for $350,004,083 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, medium-term notes and sovereign debt with a market value of $357,004,182 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
306,000,000 | Societe Generale, Paris, 0.23%, dated 7/30/2021, interest in a $650,000,000 collateralized loan agreement will repurchase securities provided as collateral for $650,012,458 on 8/2/2021, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,012,713 have been received as collateral and held with BNY Mellon as tri-party agent. | 306,000,000 | |
49,950,000 | Standard Chartered Bank, 0.16%, dated 7/30/2021, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,001,333 on 8/2/2021, in which treasury bills, treasury bonds and treasury notes with a market value of $102,009,823 have been received as collateral and held with BNY Mellon as tri-party agent. | 49,950,000 | |
120,000,000 | Wells Fargo Securities LLC, 0.57%, dated 6/1/2020, interest in a $120,000,000 collateralized loan agreement will repurchase securities provided as collateral for $120,171,000 on 10/5/2021, in which convertible bonds with a market value of $122,450,419 have been received as collateral and held with BNY Mellon as tri-party agent. | 120,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 0.59%, dated 5/20/2020, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,221,250 on 10/18/2021, in which convertible bonds with a market value of $153,032,652 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $2,853,827,000) | 2,853,827,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENT— 7.0% | |||
Finance - Banking— 7.0% | |||
$1,072,000,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,013,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency and U.S. Treasury securities with various maturities to 6/1/2051 and the market value of those underlying securities was $3,060,014,025. (IDENTIFIED COST $1,072,000,000) | $1,072,000,000 | |
TOTAL INVESTMENT IN SECURITIES—100.2% (IDENTIFIED COST $15,364,892,768)3 | 15,366,021,707 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.2)%4 | (30,451,658) | ||
TOTAL NET ASSETS—100% | $15,335,570,049 |
1 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
2 | Floating/variable note with current rate and current maturity or next reset date shown. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
3 | Also represents cost of investments for federal tax purposes. |
4 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
FHLB | —Federal Home Loan Bank | |
FHLMC | —Federal Home Loan Mortgage Corporation | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LLP | —Limited Liability Partnership | |
LOC | —Letter of Credit | |
MHF | —Maryland Housing Fund | |
PLC | —Public Limited Company | |
TRANs | —Tax and Revenue Anticipation Notes | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.0007 | $1.0004 | $1.0003 | $1.0003 | $1.0000 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0008 | 0.0136 | 0.0239 | 0.0156 | 0.0063 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0003 | 0.0001 | 0.00001 | 0.0011 |
Total From Investment Operations | 0.0006 | 0.0139 | 0.0240 | 0.0156 | 0.0074 |
Less Distributions: | |||||
Distributions from net investment income | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0063) |
Distributions from net realized gain | — | — | — | — | (0.0008) |
Total Distributions | (0.0008) | (0.0136) | (0.0239) | (0.0156) | (0.0071) |
Net Asset Value, End of Period | $1.0005 | $1.0007 | $1.0004 | $1.0003 | $1.0003 |
Total Return2 | 0.05% | 1.39% | 2.43% | 1.57% | 0.66% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.15% | 0.15% | 0.15% | 0.17% | 0.20% |
Net investment income | 0.08% | 1.37% | 2.41% | 1.62% | 0.40% |
Expense waiver/reimbursement4 | 0.13% | 0.13% | 0.13% | 0.12% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $15,298,656 | $23,611,390 | $21,146,776 | $10,941,508 | $787,309 |
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. |
Institutional Prime Obligations Fund
July 31, 2021
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $3,925,827,000 |
Investment in securities | 11,440,194,707 |
Investment in securities, at value (identified cost $15,364,892,768) | 15,366,021,707 |
Cash | 67,453 |
Income receivable | 3,171,241 |
Receivable for shares sold | 300 |
Total Assets | 15,369,260,701 |
Liabilities: | |
Payable for investments purchased | 32,979,556 |
Income distribution payable | 246,428 |
Payable to adviser (Note 5) | 58,191 |
Payable for administrative fee (Note 5) | 65,628 |
Accrued expenses (Note 5) | 340,849 |
Total Liabilities | 33,690,652 |
Net assets for 15,328,508,710 shares outstanding | $15,335,570,049 |
Net Assets Consist of: | |
Paid-in capital | $15,335,878,936 |
Total distributable earnings (loss) | (308,887) |
Total Net Assets | $15,335,570,049 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$15,298,656,319 ÷ 15,291,612,839 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Service Shares: | |
$32,412,997 ÷ 32,397,419 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Capital Shares: | |
$4,500,733 ÷ 4,498,452 shares outstanding, no par value, unlimited shares authorized | $1.0005 |
Institutional Prime Obligations Fund
Year Ended July 31, 2021
Investment Income: | |
Interest | $50,441,015 |
Expenses: | |
Investment adviser fee (Note 5) | 42,764,031 |
Administrative fee (Note 5) | 16,694,080 |
Custodian fees | 676,745 |
Transfer agent fees | 202,735 |
Directors’/Trustees’ fees (Note 5) | 109,459 |
Auditing fees | 23,855 |
Legal fees | 11,904 |
Portfolio accounting fees | 288,703 |
Other service fees (Notes 2 and 5) | 120,259 |
Share registration costs | 22,583 |
Printing and postage | 27,962 |
Miscellaneous (Note 5) | 126,333 |
TOTAL EXPENSES | 61,068,649 |
Waivers and Reimbursement: | |
Waiver of investment adviser fee (Note 5) | (27,827,648) |
Waivers/reimbursement of other operating expenses (Notes 2 and 5) | (71,650) |
TOTAL WAIVERS AND REIMBURSEMENT | (27,899,298) |
Net expenses | 33,169,351 |
Net investment income | 17,271,664 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments | 113,108 |
Net change in unrealized appreciation of investments | (6,131,457) |
Net realized and unrealized gain (loss) on investments | (6,018,349) |
Change in net assets resulting from operations | $11,253,315 |
Institutional Prime Obligations Fund
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $17,271,664 | $321,390,201 |
Net realized gain (loss) | 113,108 | (1,568,343) |
Net change in unrealized appreciation/depreciation | (6,131,457) | 3,688,255 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 11,253,315 | 323,510,113 |
Distributions to Shareholders: | ||
Institutional Shares | (17,245,644) | (319,807,042) |
Service Shares | (4,862) | (1,400,428) |
Capital Shares | (8,147) | (233,170) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (17,258,653) | (321,440,640) |
Share Transactions: | ||
Proceeds from sale of shares | 36,831,815,005 | 63,468,243,391 |
Net asset value of shares issued to shareholders in payment of distributions declared | 3,142,765 | 53,575,799 |
Cost of shares redeemed | (45,212,117,547) | (61,060,281,709) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (8,377,159,777) | 2,461,537,481 |
Change in net assets | (8,383,165,115) | 2,463,606,954 |
Net Assets: | ||
Beginning of period | 23,718,735,164 | 21,255,128,210 |
End of period | $15,335,570,049 | $23,718,735,164 |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Service Shares | $111,765 | $(2,933) | $(68,191) |
Capital Shares | 8,494 | (300) | (226) |
TOTAL | $120,259 | $(3,233) | $(68,417) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 36,196,687,324 | $36,215,427,054 | 62,747,078,555 | $62,773,370,088 |
Shares issued to shareholders in payment of distributions declared | 3,128,894 | 3,130,517 | 52,072,038 | 52,091,304 |
Shares redeemed | (44,503,031,101) | (44,525,308,528) | (60,342,756,540) | (60,362,871,020) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (8,303,214,883) | $(8,306,750,957) | 2,456,394,053 | $2,462,590,372 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 320,686,975 | $320,849,653 | 275,734,832 | $275,819,555 |
Shares issued to shareholders in payment of distributions declared | 4,099 | 4,101 | 1,251,498 | 1,251,881 |
Shares redeemed | (372,056,896) | (372,241,775) | (287,168,204) | (287,257,442) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (51,365,822) | $(51,388,021) | (10,181,874) | $(10,186,006) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 295,358,986 | $295,538,298 | 418,856,851 | $419,053,748 |
Shares issued to shareholders in payment of distributions declared | 8,141 | 8,147 | 232,523 | 232,614 |
Shares redeemed | (314,377,023) | (314,567,244) | (409,949,325) | (410,153,247) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (19,009,896) | $(19,020,799) | 9,140,049 | $9,133,115 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (8,373,590,601) | $(8,377,159,777) | 2,455,352,228 | $2,461,537,481 |
2021 | 2020 | |
Ordinary income | $17,258,653 | $321,440,640 |
Undistributed ordinary income | $17,409 |
Net unrealized appreciation | $1,128,939 |
Capital loss carryforwards and deferrals | $(1,455,235) |
Short-Term | Long-Term | Total |
$1,455,235 | $— | $1,455,235 |
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 |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,000.20 | $20.74 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.05 | $20.75 |
1 | Expenses are equal to the Fund’s Institutional Shares annualized net expense ratio of 0.15%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half-year period). |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Institutional Shares current Fee Limit of 0.20% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.99 and $1.00, 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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 Portfolio Manager since: November 1996 | Principal Occupations: Deborah A. Cunningham has been the Fund’s Portfolio Manager since November 1996. Ms. 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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
Share Class | Ticker | Automated | TOAXX | Institutional | TOIXX | Service | TOSXX |
Capital | TOCXX | Trust | TOTXX |
Federated Hermes Treasury Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
U.S. Treasury Securities | 44.7% |
Repurchase Agreements | 52.5% |
Other Assets and Liabilities—Net2 | 2.8% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of the types of securities in which the Fund invests. |
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 | 70.2% |
8-30 Days | 6.8% |
31-90 Days | 13.2% |
91-180 Days | 3.8% |
181 Days or more | 3.2% |
Other Assets and Liabilities—Net2 | 2.8% |
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 | ||
U.S. TREASURIES— 44.7% | |||
$ 675,000,000 | 1 | United States Treasury Bills, 0.010%, 8/19/2021 | $674,996,625 |
550,000,000 | 1 | United States Treasury Bills, 0.015%, 8/26/2021 | 549,994,271 |
525,000,000 | 1 | United States Treasury Bills, 0.015%, 9/21/2021 | 524,988,844 |
722,000,000 | 1 | United States Treasury Bills, 0.015% - 0.050%, 8/12/2021 | 721,995,086 |
510,000,000 | 1 | United States Treasury Bills, 0.015% - 0.070%, 8/5/2021 | 509,997,469 |
600,000,000 | 1 | United States Treasury Bills, 0.020%, 9/14/2021 | 599,985,333 |
500,000,000 | 1 | United States Treasury Bills, 0.020%, 9/28/2021 | 499,983,888 |
545,000,000 | 1 | United States Treasury Bills, 0.025%, 8/10/2021 | 544,996,595 |
550,000,000 | 1 | United States Treasury Bills, 0.025%, 8/17/2021 | 549,993,889 |
500,000,000 | 1 | United States Treasury Bills, 0.025%, 8/31/2021 | 499,989,583 |
300,000,000 | 1 | United States Treasury Bills, 0.025%, 9/9/2021 | 299,991,876 |
275,000,000 | 1 | United States Treasury Bills, 0.025%, 9/16/2021 | 274,991,216 |
500,000,000 | 1 | United States Treasury Bills, 0.030%, 8/3/2021 | 499,999,167 |
550,000,000 | 1 | United States Treasury Bills, 0.030%, 10/5/2021 | 549,970,207 |
80,000,000 | 1 | United States Treasury Bills, 0.035%, 11/12/2021 | 79,991,989 |
314,000,000 | 1 | United States Treasury Bills, 0.035% - 0.135%, 11/4/2021 | 313,950,152 |
474,000,000 | 1 | United States Treasury Bills, 0.035% - 0.140%, 10/7/2021 | 473,950,560 |
875,000,000 | 1 | United States Treasury Bills, 0.038% - 0.040%, 10/14/2021 | 874,929,218 |
750,000,000 | 1 | United States Treasury Bills, 0.040%, 9/23/2021 | 749,955,834 |
1,000,000,000 | 1 | United States Treasury Bills, 0.040%, 10/21/2021 | 999,910,001 |
200,000,000 | 1 | United States Treasury Bills, 0.060%, 9/2/2021 | 199,989,333 |
375,000,000 | 1 | United States Treasury Bills, 0.075%, 7/14/2022 | 374,728,907 |
400,000,000 | 1 | United States Treasury Bills, 0.110%, 12/2/2021 | 399,849,667 |
110,000,000 | United States Treasury Bonds, 8.000%, 11/15/2021 | 112,517,557 | |
255,000,000 | 2 | United States Treasury Floating Rate Notes, 0.080% (91-day T-Bill +0.029%), 8/3/2021 | 255,000,000 |
1,268,000,000 | 2 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 | 1,268,077,077 |
636,000,000 | 2 | United States Treasury Floating Rate Notes, 0.099% (91-day T-Bill +0.049%), 8/3/2021 | 636,051,019 |
625,000,000 | 2 | United States Treasury Floating Rate Notes, 0.105% (91-day T-Bill +0.055%), 8/3/2021 | 625,005,926 |
1,925,000,000 | 2 | United States Treasury Floating Rate Notes, 0.105% (91-day T-Bill +0.055%), 8/3/2021 | 1,925,006,477 |
1,333,200,000 | 2 | United States Treasury Floating Rate Notes, 0.164% (91-day T-Bill +0.114%), 8/3/2021 | 1,333,412,742 |
1,315,000,000 | 2 | United States Treasury Floating Rate Notes, 0.204% (91-day T-Bill +0.154%), 8/3/2021 | 1,315,139,200 |
1,016,175,000 | 2 | United States Treasury Floating Rate Notes, 0.350% (91-day T-Bill +0.300%), 8/3/2021 | 1,016,286,622 |
Principal Amount | Value | ||
U.S. TREASURIES— continued | |||
$ 325,000,000 | United States Treasury Notes, 0.125%, 6/30/2022 | $325,146,450 | |
259,000,000 | United States Treasury Notes, 1.250%, 10/31/2021 | 259,736,301 | |
154,000,000 | United States Treasury Notes, 1.500%, 11/30/2021 | 154,713,269 | |
54,000,000 | United States Treasury Notes, 1.750%, 4/30/2022 | 54,672,180 | |
185,000,000 | United States Treasury Notes, 1.750%, 5/15/2022 | 187,443,762 | |
100,000,000 | United States Treasury Notes, 1.750%, 6/15/2022 | 101,462,292 | |
225,000,000 | United States Treasury Notes, 1.875%, 1/31/2022 | 227,041,429 | |
100,000,000 | United States Treasury Notes, 1.875%, 5/31/2022 | 101,496,929 | |
227,000,000 | United States Treasury Notes, 1.875%, 7/31/2022 | 231,025,494 | |
90,000,000 | United States Treasury Notes, 2.000%, 12/31/2021 | 90,714,306 | |
97,000,000 | United States Treasury Notes, 2.500%, 1/15/2022 | 98,069,734 | |
190,000,000 | United States Treasury Notes, 2.625%, 12/15/2021 | 191,766,523 | |
141,000,000 | United States Treasury Notes, 2.750%, 8/15/2021 | 141,144,297 | |
129,000,000 | United States Treasury Notes, 2.750%, 9/15/2021 | 129,416,586 | |
248,000,000 | United States Treasury Notes, 2.875%, 11/15/2021 | 249,986,325 | |
TOTAL | 22,799,462,207 | ||
REPURCHASE AGREEMENTS— 52.5% | |||
250,000,000 | Repurchase agreement 0.06%, dated 7/16/2021 under which Bank of Montreal will repurchase securities provided as collateral for $250,011,840 on 8/16/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 8/15/2048 and the market value of those underlying securities was $255,006,676. | 250,000,000 | |
250,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Bank of Nova Scotia will repurchase securities provided as collateral for $250,001,146 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 8/15/2049 and the market value of those underlying securities was $255,001,262. | 250,000,000 | |
25,000,000 | Repurchase agreement 0.05%, dated 7/30/2021 under which Barclays Capital, Inc. will repurchase securities provided as collateral for $25,000,104 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with maturity on 6/30/2025 and the market value of those underlying securities was $25,500,111. | 25,000,000 | |
5,000,000 | Repurchase agreement 0.05%, dated 7/30/2021 under which Barclays Capital, Inc. will repurchase securities provided as collateral for $5,000,021 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with maturity on 10/12/2021 and the market value of those underlying securities was $5,100,095. | 5,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 275,000,000 | Interest in $1,600,000,000 joint repurchase agreement 0.02%, dated 5/13/2021 under which BNP Paribas S.A. will repurchase securities provided as collateral for $1,600,080,889 on 8/12/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 8/15/2046 and the market value of those underlying securities was $1,632,073,444. | $275,000,000 | |
393,000,000 | Repurchase agreement 0.05%, dated 7/30/2021 under which BNP Paribas S.A. will repurchase securities provided as collateral for $393,001,638 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2051 and the market value of those underlying securities was $400,861,709. | 393,000,000 | |
50,000,000 | Repurchase agreement 0.05%, dated 7/30/2021 under which BNP Paribas S.A. will repurchase securities provided as collateral for $50,000,208 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 11/18/2021 and the market value of those underlying securities was $51,000,273. | 50,000,000 | |
67,769,000 | Repurchase agreement 0.00%, dated 7/30/2021 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $67,769,000 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with maturity on 10/31/2027 and the market value of those underlying securities was $69,124,463. | 67,769,000 | |
300,000,000 | Repurchase agreement 0.05%, dated 7/30/2021 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $300,001,250 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 11/15/2028 and the market value of those underlying securities was $306,001,301. | 300,000,000 | |
625,000,000 | Repurchase agreement 0.05%, dated 7/30/2021 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $625,002,604 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 5/15/2051 and the market value of those underlying securities was $637,502,677. | 625,000,000 | |
250,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Citibank, N.A. will repurchase securities provided as collateral for $250,001,146 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2050 and the market value of those underlying securities was $255,001,204. | 250,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 275,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $275,001,260 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 11/15/2049 and the market value of those underlying securities was $280,501,290. | $275,000,000 | |
1,100,000,000 | Interest in $1,150,000,000 joint repurchase agreement 0.06%, dated 7/22/2021 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,150,063,250 on 8/24/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2045 and the market value of those underlying securities was $1,173,021,519. | 1,100,000,000 | |
465,000,000 | Interest in $500,000,000 joint repurchase agreement 0.07%, dated 1/7/2020 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $500,006,319 on 8/10/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2045 and the market value of those underlying securities was $510,003,026. | 465,000,000 | |
500,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Credit Suisse, New York will repurchase securities provided as collateral for $500,002,292 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2044 and the market value of those underlying securities was $510,002,345. | 500,000,000 | |
225,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which DNB Bank ASA will repurchase securities provided as collateral for $225,001,125 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2038 and the market value of those underlying securities was $229,500,001. | 225,000,000 | |
15,000,000,000 | Repurchase agreement 0.05%, dated 7/30/2021 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $15,000,062,500 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 8/15/2043 and the market value of those underlying securities was $15,000,062,588. | 15,000,000,000 | |
1,000,000,882 | Repurchase agreement 0.06%, dated 7/30/2021 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,000,005,465 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. were U.S. Treasury securities with various maturities to 11/15/2048 and the market value of those underlying securities was $1,023,615,387. | 1,000,000,882 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 150,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which ING Financial Markets LLC will repurchase securities provided as collateral for $150,000,688 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 11/15/2050 and the market value of those underlying securities was $153,000,787. | $150,000,000 | |
450,003,787 | Repurchase agreement 0.06%, dated 7/30/2021 under which Metropolitan Life Insurance Co. will repurchase securities provided as collateral for $450,006,037 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. were U.S. Treasury securities with various maturities to 5/15/2046 and the market value of those underlying securities was $459,164,996. | 450,003,787 | |
500,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which National Australia Bank Ltd., Melbourne will repurchase securities provided as collateral for $500,002,292 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. were U.S. Treasury securities with various maturities to 11/30/2025 and the market value of those underlying securities was $510,094,948. | 500,000,000 | |
1,000,000,000 | Interest in $3,275,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $3,275,015,010 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 5/15/2051 and the market value of those underlying securities was $3,340,515,429. | 1,000,000,000 | |
500,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Natwest Markets Securities, Inc. will repurchase securities provided as collateral for $500,002,292 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 5/15/2031 and the market value of those underlying securities was $510,000,032. | 500,000,000 | |
604,681,375 | Repurchase agreement 0.06%, dated 7/30/2021 under which Prudential Insurance Co. of America will repurchase securities provided as collateral for $604,684,398 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. were U.S. Treasury securities with various maturities to 11/15/2046 and the market value of those underlying securities was $616,829,693. | 604,681,375 | |
94,435,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Prudential Legacy Insurance Co. of NJ will repurchase securities provided as collateral for $94,435,472 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. were U.S. Treasury securities with various maturities to 8/15/2045 and the market value of those underlying securities was $96,404,719. | 94,435,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 750,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Standard Chartered Bank will repurchase securities provided as collateral for $750,003,438 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 5/15/2044 and the market value of those underlying securities was $765,003,556. | $750,000,000 | |
1,340,000,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,013,750 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2050 and the market value of those underlying securities was $3,060,014,952. | 1,340,000,000 | |
29,066,250 | Repurchase agreement 0.06%, dated 7/30/2021 under which United Of Omaha will repurchase securities provided as collateral for $29,066,395 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. were U.S. Treasury securities with various maturities to 8/15/2045 and the market value of those underlying securities was $29,752,843. | 29,066,250 | |
350,000,000 | Repurchase agreement 0.06%, dated 7/30/2021 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $350,001,604 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 5/15/2051 and the market value of those underlying securities was $357,001,673. | 350,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 26,823,956,294 | ||
TOTAL INVESTMENT IN SECURITIES—97.2% (AT AMORTIZED COST)3 | 49,623,418,501 | ||
OTHER ASSETS AND LIABILITIES - NET—2.8%4 | 1,413,200,091 | ||
TOTAL NET ASSETS—100% | $51,036,618,592 |
1 | Discount rate at time of purchase. |
2 | Floating/variable note with current rate and current maturity or next reset date shown. |
3 | Also represents cost for federal tax purposes. |
4 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0001 | 0.008 | 0.019 | 0.010 | 0.002 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.008 | 0.019 | 0.010 | 0.002 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.008) | (0.019) | (0.010) | (0.002) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.008) | (0.019) | (0.010) | (0.002) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.84% | 1.88% | 1.03% | 0.17% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.11% | 0.43% | 0.48% | 0.42% | 0.46% |
Net investment income | 0.01% | 0.82% | 1.87% | 1.02% | 0.16% |
Expense waiver/reimbursement4 | 0.52% | 0.18% | 0.11% | 0.10% | 0.15% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $2,390,301 | $2,076,883 | $2,138,942 | $2,059,409 | $1,435,990 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0001 | 0.011 | 0.022 | 0.013 | 0.004 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.011 | 0.022 | 0.013 | 0.004 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.011) | (0.022) | (0.013) | (0.004) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.011) | (0.022) | (0.013) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 1.09% | 2.18% | 1.25% | 0.44% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.11% | 0.19% | 0.18% | 0.19% | 0.20% |
Net investment income | 0.01% | 0.99% | 2.17% | 1.24% | 0.43% |
Expense waiver/reimbursement4 | 0.17% | 0.10% | 0.11% | 0.10% | 0.08% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $40,668,867 | $49,615,082 | $33,350,766 | $25,992,845 | $24,203,284 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0001 | 0.009 | 0.019 | 0.010 | 0.002 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.009 | 0.019 | 0.010 | 0.002 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.009) | (0.019) | (0.010) | (0.002) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.009) | (0.019) | (0.010) | (0.002) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.88% | 1.93% | 1.00% | 0.21% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.12% | 0.39% | 0.43% | 0.44% | 0.43% |
Net investment income | 0.01% | 0.84% | 1.92% | 0.96% | 0.22% |
Expense waiver/reimbursement4 | 0.41% | 0.15% | 0.11% | 0.10% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $5,363,707 | $5,512,396 | $4,672,058 | $3,584,885 | $5,208,323 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0001 | 0.010 | 0.021 | 0.012 | 0.003 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.010 | 0.021 | 0.012 | 0.003 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.010) | (0.021) | (0.012) | (0.003) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.010) | (0.021) | (0.012) | (0.003) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.99% | 2.08% | 1.15% | 0.34% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.11% | 0.28% | 0.28% | 0.29% | 0.30% |
Net investment income | 0.01% | 0.90% | 2.07% | 1.12% | 0.35% |
Expense waiver/reimbursement4 | 0.27% | 0.11% | 0.11% | 0.10% | 0.08% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,859,069 | $2,119,651 | $1,250,599 | $1,114,276 | $1,857,588 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0001 | 0.007 | 0.017 | 0.008 | 0.001 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | (0.000)1 | (0.000)1 |
Total From Investment Operations | 0.0001 | 0.007 | 0.017 | 0.008 | 0.001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.007) | (0.017) | (0.008) | (0.001) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.007) | (0.017) | (0.008) | (0.001) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 0.72% | 1.67% | 0.75% | 0.08% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.13% | 0.54% | 0.68% | 0.69% | 0.57% |
Net investment income | 0.01% | 0.66% | 1.67% | 0.77% | 0.09% |
Expense waiver/reimbursement4 | 0.65% | 0.25% | 0.11% | 0.10% | 0.22% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $754,675 | $1,379,716 | $860,830 | $512,289 | $909,570 |
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 | 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. |
July 31, 2021
Assets: | |
Investment in repurchase agreements | $26,823,956,294 |
Investment in securities | 22,799,462,207 |
Investment in securities, at amortized cost and fair value | 49,623,418,501 |
Cash | 755,169,023 |
Income receivable | 21,735,860 |
Receivable for investments sold | 1,101,000,000 |
Total Assets | 51,501,323,384 |
Liabilities: | |
Payable for investments purchased | 255,001,119 |
Payable for shares redeemed | 208,636,425 |
Income distribution payable | 142,585 |
Payable for investment adviser fee (Note 5) | 108,293 |
Payable for administrative fee (Note 5) | 219,301 |
Payable for distribution services fee (Note 5) | 155 |
Accrued expenses (Note 5) | 596,914 |
Total Liabilities | 464,704,792 |
Net assets for 51,036,324,826 shares outstanding | $51,036,618,592 |
Net Assets Consist of: | |
Paid-in capital | $51,036,517,829 |
Total distributable earnings (loss) | 100,763 |
Total Net Assets | $51,036,618,592 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$2,390,301,176 ÷ 2,390,287,478 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Institutional Shares: | |
$40,668,866,844 ÷ 40,668,632,503 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$5,363,706,802 ÷ 5,363,676,048 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$1,859,068,507 ÷ 1,859,057,858 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$754,675,263 ÷ 754,670,939 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2021
Investment Income: | |
Interest | $64,431,516 |
Expenses: | |
Investment adviser fee (Note 5) | 103,301,472 |
Administrative fee (Note 5) | 40,327,442 |
Custodian fees | 1,472,183 |
Transfer agent fees (Note 2) | 2,480,912 |
Directors’/Trustees’ fees (Note 5) | 263,124 |
Auditing fees | 23,855 |
Legal fees | 13,403 |
Portfolio accounting fees | 264,623 |
Distribution services fee (Note 5) | 2,317,212 |
Other service fees (Note 5) | 22,973,703 |
Share registration costs | 369,441 |
Printing and postage | 186,330 |
Miscellaneous (Note 5) | 267,325 |
TOTAL EXPENSES | 174,261,025 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (84,163,555) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (32,720,656) |
TOTAL WAIVERS AND REIMBURSEMENTS | (116,884,211) |
Net expenses | 57,376,814 |
Net investment income | 7,054,702 |
Net realized gain on investments | 73,708 |
Change in net assets resulting from operations | $7,128,410 |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $7,054,702 | $455,800,250 |
Net realized gain (loss) | 73,708 | (305) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 7,128,410 | 455,799,945 |
Distributions to Shareholders: | ||
Automated Shares | (209,741) | (15,935,062) |
Institutional Shares | (6,197,196) | (371,823,448) |
Service Shares | (484,814) | (46,290,313) |
Capital Shares | (166,570) | (13,540,706) |
Trust Shares | (87,784) | (8,098,718) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (7,146,105) | (455,688,247) |
Share Transactions: | ||
Proceeds from sale of shares | 502,424,154,556 | 359,154,323,444 |
Proceeds from shares issued in connection with the tax- free transfer of assets from PNC Treasury Plus Money Market Fund | — | 310,115,826 |
Net asset value of shares issued to shareholders in payment of distributions declared | 2,662,531 | 178,774,648 |
Cost of shares redeemed | (512,093,908,564) | (341,212,791,234) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (9,667,091,477) | 18,430,422,684 |
Change in net assets | (9,667,109,172) | 18,430,534,382 |
Net Assets: | ||
Beginning of period | 60,703,727,764 | 42,273,193,382 |
End of period | $51,036,618,592 | $60,703,727,764 |
Shares of the Fund Issued | Acquired Fund’s Net Assets Received | Net Assets of the Fund Immediately Prior to Combination | Net Assets of the Fund Immediately After Combination |
310,115,826 | $310,115,826 | $45,100,232,014 | $45,410,347,840 |
Net investment income | $457,858,254 |
Net realized and unrealized gain on investments | 6,394 |
Net increase in net assets resulting from operations | $457,864,648 |
Transfer Agent Fees Incurred | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $2,212,594 | $(2,093,876) |
Institutional Shares | 224,673 | — |
Service Shares | 28,659 | — |
Capital Shares | 9,917 | — |
Trust Shares | 5,069 | — |
TOTAL | $2,480,912 | $(2,093,876) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Automated Shares | $5,733,768 | $(11,352) | $(5,722,416) |
Service Shares | 13,116,781 | (130,908) | (12,716,634) |
Capital Shares | 1,814,858 | (5,224) | (1,707,433) |
Trust Shares | 2,308,296 | (1,200) | (2,307,096) |
TOTAL | $22,973,703 | $(148,684) | $(22,453,579) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 3,534,186,315 | $3,534,187,820 | 3,366,610,734 | $3,366,611,347 |
Shares issued to shareholders in payment of distributions declared | 205,073 | 205,073 | 15,138,139 | 15,138,139 |
Shares redeemed | (3,220,977,585) | (3,220,977,585) | (3,443,808,266) | (3,443,808,266) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | 313,413,803 | $313,415,308 | (62,059,393) | $(62,058,780) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 475,862,853,089 | $475,862,876,318 | 325,052,165,209 | $325,052,176,566 |
Proceeds from shares issued in connection with the tax-free transfer of assets from the Acquired Fund | — | — | 309,932,776 | 309,932,776 |
Shares issued to shareholders in payment of distributions declared | 2,162,558 | 2,162,558 | 130,824,039 | 130,824,039 |
Shares redeemed | (484,811,234,930) | (484,811,234,930) | (309,228,703,473) | (309,228,703,473) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (8,946,219,283) | $(8,946,196,054) | 16,264,218,551 | $16,264,229,908 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 16,207,570,121 | $16,207,573,365 | 20,854,916,848 | $20,854,916,848 |
Proceeds from shares issued in connection with the tax-free transfer of assets from the Acquired Fund | — | — | 10 | 10 |
Shares issued to shareholders in payment of distributions declared | 165,128 | 165,128 | 19,803,819 | 19,803,819 |
Shares redeemed | (16,356,429,399) | (16,356,429,399) | (20,034,389,688) | (20,034,408,256) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (148,694,150) | $(148,690,906) | 840,330,989 | $840,312,421 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 4,834,374,253 | $4,834,375,459 | 6,315,658,552 | $6,315,663,515 |
Proceeds from shares issued in connection with the tax-free transfer of assets from the Acquired Fund | — | — | 183,040 | 183,040 |
Shares issued to shareholders in payment of distributions declared | 90,600 | 90,600 | 7,849,804 | 7,849,804 |
Shares redeemed | (5,095,047,779) | (5,095,047,779) | (5,454,644,344) | (5,454,644,344) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (260,582,926) | $(260,581,720) | 869,047,052 | $869,052,015 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,985,141,150 | $1,985,141,594 | 3,564,951,260 | $3,564,955,168 |
Shares issued to shareholders in payment of distributions declared | 39,172 | 39,172 | 5,158,847 | 5,158,847 |
Shares redeemed | (2,610,218,871) | (2,610,218,871) | (3,051,226,895) | (3,051,226,895) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | (625,038,549) | $(625,038,105) | 518,883,212 | $518,887,120 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (9,667,121,105) | $(9,667,091,477) | 18,430,420,411 | $18,430,422,684 |
2021 | 2020 | |
Ordinary income1 | $7,146,105 | $455,688,247 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed ordinary income | $90,593 |
Undistributed long-term capital gains | $10,170 |
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 | |
Trust Shares | $2,317,212 | $(2,250,788) |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Automated Shares | $1,000 | $1,000.00 | $20.30 |
Institutional Shares | $1,000 | $1,000.00 | $30.30 |
Service Shares | $1,000 | $1,000.00 | $40.30 |
Capital Shares | $1,000 | $1,000.00 | $50.30 |
Trust Shares | $1,000 | $1,000.00 | $60.30 |
Hypothetical (assuming a 5% return before expenses): | |||
Automated Shares | $1,000 | $1,024.50 | $20.30 |
Institutional Shares | $1,000 | $1,024.50 | $30.30 |
Service Shares | $1,000 | $1,024.50 | $40.30 |
Capital Shares | $1,000 | $1,024.50 | $50.30 |
Trust Shares | $1,000 | $1,024.50 | $60.30 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Automated Shares | 0.06% |
Institutional Shares | 0.06% |
Service Shares | 0.06% |
Capital Shares | 0.06% |
Trust Shares | 0.06% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Automated Shares current Fee Limit of 0.55% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.73 and $2.76, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Institutional Shares current Fee Limit of 0.20% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.99 and $1.00, respectively. |
4 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Service Shares current Fee Limit of 0.45% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.23 and $2.26, respectively. |
5 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Capital Shares current Fee Limit of 0.30% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.49 and $1.51, respectively. |
6 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Trust Shares current Fee Limit of 0.70% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $3.47 and $3.51, 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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 Portfolio Manager since: January 1994 | Principal Occupations: Deborah A. Cunningham has been the Fund’s Portfolio Manager since January 1994. Ms. 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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N500
CUSIP 60934N872
CUSIP 60934N823
CUSIP 60934N120
Share Class | Ticker | Institutional | TTOXX | Cash II | TTIXX | Cash Series | TCSXX |
Federated Hermes Trust for U.S. Treasury Obligations
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
U.S. Treasury Securities | 46.9% |
Repurchase Agreements | 51.1% |
Other Assets and Liabilities—Net2 | 2.0% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of the types of securities in which the Fund invests. |
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 | 70.5% |
8-30 Days | 7.5% |
31-90 Days | 12.9% |
91-180 Days | 4.5% |
181 Days or more | 2.6% |
Other Assets and Liabilities—Net2 | 2.0% |
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 | ||
U.S. TREASURIES— 46.9% | |||
$ 44,000,000 | 1 | United States Treasury Bills, 0.010%, 8/19/2021 | $43,999,780 |
35,000,000 | 1 | United States Treasury Bills, 0.015%, 8/26/2021 | 34,999,635 |
35,000,000 | 1 | United States Treasury Bills, 0.015%, 9/21/2021 | 34,999,256 |
49,000,000 | 1 | United States Treasury Bills, 0.015% - 0.050%, 8/12/2021 | 48,999,658 |
33,000,000 | 1 | United States Treasury Bills, 0.015% - 0.070%, 8/5/2021 | 32,999,835 |
40,000,000 | 1 | United States Treasury Bills, 0.020%, 9/14/2021 | 39,999,022 |
35,000,000 | 1 | United States Treasury Bills, 0.020%, 9/28/2021 | 34,998,872 |
36,000,000 | 1 | United States Treasury Bills, 0.025%, 8/10/2021 | 35,999,775 |
35,000,000 | 1 | United States Treasury Bills, 0.025%, 8/17/2021 | 34,999,611 |
32,000,000 | 1 | United States Treasury Bills, 0.025%, 8/31/2021 | 31,999,333 |
18,000,000 | 1 | United States Treasury Bills, 0.025%, 9/9/2021 | 17,999,512 |
15,000,000 | 1 | United States Treasury Bills, 0.025%, 9/16/2021 | 14,999,521 |
35,000,000 | 1 | United States Treasury Bills, 0.030%, 8/3/2021 | 34,999,942 |
5,400,000 | 1 | United States Treasury Bills, 0.035%, 11/12/2021 | 5,399,459 |
19,510,000 | 1 | United States Treasury Bills, 0.035% - 0.135%, 11/4/2021 | 19,507,008 |
31,000,000 | 1 | United States Treasury Bills, 0.035% - 0.140%, 10/7/2021 | 30,996,808 |
50,000,000 | 1 | United States Treasury Bills, 0.040%, 9/23/2021 | 49,997,056 |
55,000,000 | 1 | United States Treasury Bills, 0.040%, 10/14/2021 | 54,995,478 |
63,000,000 | 1 | United States Treasury Bills, 0.040%, 10/21/2021 | 62,994,330 |
25,000,000 | 1 | United States Treasury Bills, 0.075%, 7/14/2022 | 24,981,927 �� |
26,000,000 | 1 | United States Treasury Bills, 0.110%, 12/2/2021 | 25,990,228 |
15,000,000 | 2 | United States Treasury Floating Rate Notes, 0.080% (91-day T-Bill +0.029%), 8/3/2021 | 15,000,000 |
69,500,000 | 2 | United States Treasury Floating Rate Notes, 0.084% (91-day T-Bill +0.034%), 8/3/2021 | 69,504,137 |
52,000,000 | 2 | United States Treasury Floating Rate Notes, 0.099% (91-day T-Bill +0.049%), 8/3/2021 | 52,004,411 |
156,250,000 | 2 | United States Treasury Floating Rate Notes, 0.105% (91-day T-Bill +0.055%), 8/3/2021 | 156,250,177 |
70,000,000 | 2 | United States Treasury Floating Rate Notes, 0.164% (91-day T-Bill +0.114%), 8/3/2021 | 70,007,431 |
91,000,000 | 2 | United States Treasury Floating Rate Notes, 0.204% (91-day T-Bill +0.154%), 8/3/2021 | 91,003,006 |
68,500,000 | 2 | United States Treasury Floating Rate Notes, 0.350% (91-day T-Bill +0.300%), 8/3/2021 | 68,507,307 |
13,750,000 | United States Treasury Notes, 1.250%, 10/31/2021 | 13,788,979 | |
11,000,000 | United States Treasury Notes, 1.500%, 11/30/2021 | 11,050,948 | |
13,000,000 | United States Treasury Notes, 1.750%, 5/15/2022 | 13,171,737 | |
6,000,000 | United States Treasury Notes, 1.875%, 5/31/2022 | 6,089,816 |
Principal Amount | Value | ||
U.S. TREASURIES— continued | |||
$ 13,000,000 | United States Treasury Notes, 1.875%, 7/31/2022 | $13,230,535 | |
20,000,000 | United States Treasury Notes, 2.375%, 3/15/2022 | 20,284,984 | |
5,000,000 | United States Treasury Notes, 2.500%, 1/15/2022 | 5,055,141 | |
10,000,000 | United States Treasury Notes, 2.625%, 12/15/2021 | 10,092,975 | |
9,000,000 | United States Treasury Notes, 2.750%, 8/15/2021 | 9,009,210 | |
8,000,000 | United States Treasury Notes, 2.750%, 9/15/2021 | 8,025,835 | |
41,000,000 | United States Treasury Notes, 2.875%, 11/15/2021 | 41,328,263 | |
TOTAL | 1,390,260,938 | ||
REPURCHASE AGREEMENTS— 51.1% | |||
25,000,000 | Interest in $1,600,000,000 joint repurchase agreement 0.02%, dated 5/13/2021 under which BNP Paribas S.A. will repurchase securities provided as collateral for $1,600,080,889 on 8/12/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 8/15/2046 and the market value of those underlying securities was $1,632,073,444. | 25,000,000 | |
50,000,000 | Interest in $1,150,000,000 joint repurchase agreement 0.06%, dated 7/22/2021 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,150,063,250 on 8/24/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2045 and the market value of those underlying securities was $1,173,021,519. | 50,000,000 | |
35,000,000 | Interest in $500,000,000 joint repurchase agreement 0.07%, dated 1/7/2020 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $500,006,319 on 8/10/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2045 and the market value of those underlying securities was $510,003,026. | 35,000,000 | |
500,000,000 | Repurchase agreement 0.05%, dated 7/30/2021 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $500,002,083 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 8/15/2043 and the market value of those underlying securities was $500,002,086. | 500,000,000 | |
250,000,647 | Repurchase agreement 0.06%, dated 7/30/2021 under which Fixed Income Clearing Corporation will repurchase securities provided as collateral for $250,001,793 on 8/2/2021. The securities provided as collateral at the end of the period held with State Street Bank & Co. as tri-party agent, were U.S. Treasury securities with various maturities to 8/15/2043 and the market value of those underlying securities was $257,326,357. | 250,000,647 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$457,000,000 | Interest in $3,275,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $3,275,015,010 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 5/15/2051 and the market value of those underlying securities was $3,340,515,429. | $457,000,000 | |
200,000,000 | Interest in $3,000,000,000 joint repurchase agreement 0.06%, dated 7/30/2021 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,015,000 on 8/2/2021. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2050 and the market value of those underlying securities was $3,060,014,952. | 200,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 1,517,000,647 | ||
TOTAL INVESTMENT IN SECURITIES—98.0% (AT AMORTIZED COST)3 | 2,907,261,585 | ||
OTHER ASSETS AND LIABILITIES - NET—2.0%4 | 60,122,143 | ||
TOTAL NET ASSETS—100% | $2,967,383,728 |
1 | Discount rate(s) at time of purchase. |
2 | Floating/variable note with current rate and current maturity or next reset date shown. |
3 | Also represents cost of investments for federal tax purposes. |
4 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.011 | 0.021 | 0.012 | 0.004 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | 0.0001 | (0.000)1 |
Total From Investment Operations | 0.0001 | 0.011 | 0.021 | 0.012 | 0.004 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.011) | (0.021) | (0.012) | (0.004) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.011) | (0.021) | (0.012) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.01% | 1.07% | 2.16% | 1.25% | 0.44% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.13% | 0.20% | 0.20% | 0.20% | 0.20% |
Net investment income | 0.01% | 0.94% | 2.18% | 1.23% | 0.47% |
Expense waiver/reimbursement4 | 0.17% | 0.11% | 0.11% | 0.13% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,464,865 | $2,334,139 | $1,344,393 | $360,889 | $288,652 |
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 | 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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.006 | 0.014 | 0.005 | 0.0001 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.006 | 0.014 | 0.005 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.006) | (0.014) | (0.005) | (0.000)1 |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.006) | (0.014) | (0.005) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.00%3 | 0.58% | 1.45% | 0.54% | 0.02% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.13% | 0.67% | 0.90% | 0.90% | 0.62% |
Net investment income | 0.00%3 | 0.53% | 1.44% | 0.53% | 0.02% |
Expense waiver/reimbursement5 | 0.87% | 0.34% | 0.11% | 0.13% | 0.41% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $735,469 | $750,118 | $591,844 | $635,165 | $751,234 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Represents less than 0.01%. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
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 July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0001 | 0.005 | 0.013 | 0.004 | 0.0001 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0001 | 0.005 | 0.013 | 0.004 | 0.0001 |
Less Distributions: | |||||
Distributions from net investment income | (0.000)1 | (0.005) | (0.013) | (0.004) | (0.000)1 |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.000)1 | (0.005) | (0.013) | (0.004) | (0.000)1 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 0.00%3 | 0.50% | 1.31% | 0.40% | 0.00%3 |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.13% | 0.76% | 1.04% | 1.05% | 0.64% |
Net investment income | 0.00%3 | 0.47% | 1.32% | 0.30% | 0.00%3 |
Expense waiver/reimbursement5 | 1.10% | 0.48% | 0.21% | 0.23% | 0.64% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $767,050 | $653,747 | $496,252 | $341,124 | $660,717 |
1 | Represents less than $0.001. |
2 | Based on net asset value. |
3 | Represents less than 0.01%. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
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. |
July 31, 2021
Assets: | |
Investment in repurchase agreements | $1,517,000,647 |
Investment in securities | 1,390,260,938 |
Investment in securities, at amortized cost and fair value | 2,907,261,585 |
Cash | 334,240 |
Income receivable | 1,410,663 |
Receivable for investments sold | 74,000,000 |
Receivable for shares sold | 286,427 |
Total Assets | 2,983,292,915 |
Liabilities: | |
Payable for investments purchased | 15,000,066 |
Payable for shares redeemed | 643,741 |
Payable for investment adviser fee (Note 5) | 52,728 |
Payable for administrative fee (Note 5) | 12,700 |
Accrued expenses (Note 5) | 199,952 |
Total Liabilities | 15,909,187 |
Net assets for 2,967,379,598 shares outstanding | $2,967,383,728 |
Net Assets Consist of: | |
Paid-in capital | $2,967,379,628 |
Total distributable earnings (loss) | 4,100 |
Total Net Assets | $2,967,383,728 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$1,464,864,840 ÷ 1,464,862,802 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$735,468,848 ÷ 735,467,824 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$767,050,040 ÷ 767,048,972 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2021
Investment Income: | |
Interest | $4,370,380 |
Expenses: | |
Investment adviser fee (Note 5) | 6,632,431 |
Administrative fee (Note 5) | 2,590,130 |
Custodian fees | 100,316 |
Transfer agent fees (Note 2) | 1,312,580 |
Directors’/Trustees’ fees (Note 5) | 17,683 |
Auditing fees | 21,400 |
Legal fees | 12,403 |
Portfolio accounting fees | 200,487 |
Distribution services fee (Note 5) | 6,644,183 |
Other service fees (Notes 2 and 5) | 3,562,979 |
Share registration costs | 110,023 |
Printing and postage | 85,182 |
Miscellaneous (Note 5) | 83,854 |
TOTAL EXPENSES | 21,373,651 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (5,354,690) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (11,775,859) |
TOTAL WAIVERS AND REIMBURSEMENTS | (17,130,549) |
Net expenses | 4,243,102 |
Net investment income | 127,278 |
Net realized gain on investments | 3,411 |
Change in net assets resulting from operations | $130,689 |
Year Ended July 31 | 2021 | 2020 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $127,278 | $25,910,767 |
Net realized gain (loss) | 3,411 | (83) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 130,689 | 25,910,684 |
Distributions to Shareholders: | ||
Institutional Shares | (128,157) | (19,382,104) |
Cash II Shares | (678) | (3,570,879) |
Cash Series Shares | (544) | (2,961,708) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (129,379) | (25,914,691) |
Share Transactions: | ||
Proceeds from sale of shares | 5,025,976,951 | 8,228,831,024 |
Net asset value of shares issued to shareholders in payment of distributions declared | 66,790 | 17,986,513 |
Cost of shares redeemed | (5,796,664,885) | (6,941,299,302) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (770,621,144) | 1,305,518,235 |
Change in net assets | (770,619,834) | 1,305,514,228 |
Net Assets: | ||
Beginning of period | 3,738,003,562 | 2,432,489,334 |
End of period | $2,967,383,728 | $3,738,003,562 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | Transfer Agent Fees Waived by Unaffiliated Third Parties | |
Institutional Shares | $22,334 | $(39) | $— |
Cash II Shares | 774,161 | (2,081) | (721,851) |
Cash Series Shares | 516,085 | — | (472,824) |
TOTAL | $1,312,580 | $(2,120) | $(1,194,675) |
Other Service Fees Incurred | Other Service Fees Reimbursed | Other Service Fees Waived by Unaffiliated Third Parties | |
Cash II Shares | $1,918,907 | $— | $(1,918,907) |
Cash Series Shares | 1,644,072 | (194) | (1,643,878) |
TOTAL | $3,562,979 | $(194) | $(3,562,785) |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,318,100,584 | $2,318,100,584 | 4,914,376,100 | $4,914,376,100 |
Shares issued to shareholders in payment of distributions declared | 65,594 | 65,594 | 11,558,717 | 11,558,717 |
Shares redeemed | (3,187,440,884) | (3,187,440,884) | (3,936,187,018) | (3,936,187,018) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (869,274,706) | $(869,274,706) | 989,747,799 | $989,747,799 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 839,112,903 | $839,112,903 | 928,282,811 | $928,282,811 |
Shares issued to shareholders in payment of distributions declared | 656 | 656 | 3,500,102 | 3,500,102 |
Shares redeemed | (853,762,845) | (853,762,845) | (773,508,199) | (773,508,199) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | (14,649,286) | $(14,649,286) | 158,274,714 | $158,274,714 |
Year Ended 7/31/2021 | Year Ended 7/31/2020 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,868,763,464 | $1,868,763,464 | 2,386,172,113 | $2,386,172,113 |
Shares issued to shareholders in payment of distributions declared | 540 | 540 | 2,927,694 | 2,927,694 |
Shares redeemed | (1,755,461,156) | (1,755,461,156) | (2,231,604,085) | (2,231,604,085) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 113,302,848 | $113,302,848 | 157,495,722 | $157,495,722 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (770,621,144) | $(770,621,144) | 1,305,518,235 | $1,305,518,235 |
2021 | 2020 | |
Ordinary income1 | $129,379 | $25,914,691 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed ordinary income1 | $4,100 |
1 | 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 | 0.35% |
Cash Series Shares | 0.60% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Cash II Shares | $2,693,534 | $(2,693,534) |
Cash Series Shares | 3,950,649 | (3,950,649) |
TOTAL | $6,644,183 | $(6,644,183) |
September 23, 2021
Beginning Account Value 2/1/2021 | Ending Account Value 7/31/2021 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,000.00 | $20.35 |
Cash II Shares | $1,000 | $1,000.00 | $30.35 |
Cash Series Shares | $1,000 | $1,000.00 | $40.35 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,024.45 | $20.35 |
Cash II Shares | $1,000 | $1,024.45 | $30.35 |
Cash Series Shares | $1,000 | $1,024.45 | $40.35 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Institutional Shares | 0.07% |
Cash II Shares | 0.07% |
Cash Series Shares | 0.07% |
2 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Institutional Shares current Fee Limit of 0.20% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $0.99 and $1.00, respectively. |
3 | Actual and Hypothetical expenses paid during the period utilizing the Fund’s Cash II Shares current Fee Limit of 0.90% (as reflected in the Notes to Financial Statements, Note 5 under Expense Limitation), multiplied by the average account value over the period, multiplied by 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $4.46 and $4.52, respectively. |
4 | 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 181/365 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $5.21 and $5.27, 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, and Chair of the Board of Directors or Trustees, of the Federated Hermes Fund Family; formerly, Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired). Other Directorships Held: Chairman of the Board of Directors, Director, KLX Energy Services Holdings, Inc. (oilfield services); former Director of KLX Corp. (aerospace). Qualifications: Mr. Collins has served in several business and financial management roles and directorship positions throughout his career. Mr. Collins previously served as Chairman and CEO of The Collins Group, Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves as Chairman Emeriti, Bentley University. Mr. Collins previously served as Director and Audit Committee Member, Bank of America Corp.; Director, FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical Center (Harvard University Affiliate Hospital). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
G. Thomas Hough Birth Date: February 28, 1955 Trustee Indefinite Term Began serving: August 2015 | Principal Occupations: Director or Trustee, Chair of the Audit Committee of the Federated Hermes Fund Family; formerly, Vice Chair, Ernst & Young LLP (public accounting firm) (Retired). Other Directorships Held: Director, Chair of the Audit Committee, Equifax, Inc.; Director, Member of the Audit Committee, Haverty Furniture Companies, Inc.; formerly, Director, Member of Governance and Compensation Committees, Publix Super Markets, Inc. Qualifications: Mr. Hough has served in accounting, business management and directorship positions throughout his career. Mr. Hough most recently held the position of Americas Vice Chair of Assurance with Ernst & Young LLP (public accounting firm). Mr. Hough serves on the President’s Cabinet and Business School Board of Visitors for the University of Alabama. Mr. Hough previously served on the Business School Board of Visitors for Wake Forest University, and he previously served as an Executive Committee member of the United States Golf Association. |
Maureen Lally-Green Birth Date: July 5, 1949 Trustee Indefinite Term Began serving: August 2009 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Adjunct Professor Emerita of Law, Duquesne University School of Law; formerly, Dean of the Duquesne University School of Law and Professor of Law and Interim Dean of the Duquesne University School of Law; formerly, Associate General Secretary and Director, Office of Church Relations, Diocese of Pittsburgh. Other Directorships Held: Director, CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Qualifications: Judge Lally-Green has served in various legal and business roles and directorship positions throughout her career. Judge Lally-Green previously held the position of Dean of the School of Law of Duquesne University (as well as Interim Dean). Judge Lally-Green previously served as a member of the Superior Court of Pennsylvania and as a Professor of Law, Duquesne University School of Law. Judge Lally-Green was appointed by the Supreme Court of Pennsylvania to serve on the Supreme Court’s Board of Continuing Judicial Education and the Supreme Court’s Appellate Court Procedural Rules Committee. Judge Lally-Green also currently holds the positions on not for profit or for profit boards of directors as follows: Director and Chair, UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, Pennsylvania State Board of Education (public); Director, Catholic Charities, Pittsburgh; and Director CNX Resources Corporation (formerly known as CONSOL Energy Inc.). Judge Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy Foundation of Western and Central Pennsylvania; Director, Ireland Institute of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, Pennsylvania Bar Institute; Director, St. Vincent College; Director and Chair, North Catholic High School, Inc.; and Director and Vice Chair, Our Campaign for the Church Alive!, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
Thomas M. O’Neill Birth Date: June 14, 1951 Trustee Indefinite Term Began serving: August 2006 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting). Other Directorships Held: None. Qualifications: Mr. O’Neill has served in several business, mutual fund and financial management roles and directorship positions throughout his career. Mr. O’Neill serves as Director, Medicines for Humanity and Director, The Golisano Children’s Museum of Naples, Florida. Mr. O’Neill previously served as Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); and Director, Midway Pacific (lumber). |
Madelyn A. Reilly Birth Date: February 2, 1956 Trustee Indefinite Term Began serving: November 2020 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; Senior Vice President for Legal Affairs, General Counsel and Secretary of the Board of Trustees, Duquesne University. Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. |
P. Jerome Richey Birth Date: February 23, 1949 Trustee Indefinite Term Began serving: 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, CONSOL Energy Inc. (now split into two separate publicly traded companies known as CONSOL Energy Inc. and CNX Resources Corp.). Other Directorships Held: None. Qualifications: Mr. Richey has served in several business and legal management roles and directorship positions throughout his career. Mr. Richey most recently held the positions of Senior Vice Chancellor and Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey previously served as Chief Legal Officer and Executive Vice President, CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John S. Walsh Birth Date: November 28, 1957 Trustee Indefinite Term Began serving: January 1999 | Principal Occupations: Director or Trustee of the Federated Hermes Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc. Other Directorships Held: None. Qualifications: Mr. Walsh has served in several business management roles and directorship positions throughout his career. Mr. Walsh previously served as Vice President, Walsh & Kelly, Inc. (paving contractors). |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Lori A. Hensler Birth Date: January 6, 1967 TREASURER Officer since: April 2013 | Principal Occupations: Principal Financial Officer and Treasurer of the Federated Hermes Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation. Previous Positions: Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd., and Federated MDTA, LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years and Previous Position(s) |
Peter J. Germain Birth Date: September 3, 1959 CHIEF LEGAL OFFICER, SECRETARY and EXECUTIVE VICE PRESIDENT Officer since: January 2005 | Principal Occupations: Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes Fund Family. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a member of the Pennsylvania Bar Association. Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc. |
Stephen Van Meter Birth Date: June 5, 1975 CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT Officer since: July 2015 | Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Hermes Fund Family; Vice President and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. Previous Positions: Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement. |
Deborah A. Cunningham Birth Date: September 15, 1959 Chief Investment Officer Officer since: May 2004 Portfolio Manager since: January 1994 | Principal Occupations: Deborah A. Cunningham has been the Fund’s Portfolio Manager since January 1994. Ms. 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. |
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 608919551
CUSIP 608919569
Item 2. | Code of Ethics |
(a) As of the end of the period covered by this report, the registrant has adopted a code of ethics (the "Section 406 Standards for Investment Companies - Ethical Standards for Principal Executive and Financial Officers") that applies to the registrant's Principal Executive Officer and Principal Financial Officer; the registrant's Principal Financial Officer also serves as the Principal Accounting Officer.
(c) There was no amendment to the registrant’s code of ethics described in Item 2(a) above during the period covered by the report.
(d) There was no waiver granted, either actual or implicit, from a provision to the registrant’s code of ethics described in Item 2(a) above during the period covered by the report.
(e) Not Applicable
(f)(3) The registrant hereby undertakes to provide any person, without charge, upon request, a copy of the code of ethics. To request a copy of the code of ethics, contact the registrant at 1-800-341-7400, and ask for a copy of the Section 406 Standards for Investment Companies - Ethical Standards for Principal Executive and Financial Officers.
Item 3. Audit Committee Financial Expert
The registrant's Board has determined that each of the following members of the Board's Audit Committee is an “audit committee financial expert,” and is "independent," for purposes of this Item: G. Thomas Hough and Thomas M. O'Neill.
Item 4. | Principal Accountant Fees and Services |
(a) Audit Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2021 – $441,180
Fiscal year ended 2020 - $447,560
(b) Audit-Related Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2021 - $0
Fiscal year ended 2020 - $0
Amount requiring approval of the registrant’s Audit Committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, $0 and $8,935 respectively. Fiscal year ended 2020- Audit consent fees for N-14 merger document.
(c) Tax Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2021 - $0
Fiscal year ended 2020 - $0
Amount requiring approval of the registrant’s Audit Committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, $0 and $0 respectively.
(d) All Other Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2021 - $0
Fiscal year ended 2020 - $0
Amount requiring approval of the registrant’s Audit Committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, $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 (the “Chairman”) for services that do not exceed a specified dollar threshold. The Chairman or Chief Audit Executive will report any such pre-approval decisions to the Audit Committee at its next scheduled meeting. The Committee will designate another member with such pre-approval authority when the Chairman is unavailable.
AUDIT SERVICES
The annual audit services engagement terms and fees will be subject to the specific pre-approval of the Audit Committee. The Audit Committee will approve, if necessary, any changes in terms, conditions and fees resulting from changes in audit scope, registered investment company (RIC) structure or other matters.
In addition to the annual audit services engagement specifically approved by the Audit Committee, the Audit Committee may grant general pre-approval for other audit services, which are those services that only the independent auditor reasonably can provide. The Audit Committee has pre-approved certain audit services; with limited exception, all other audit services must be specifically pre-approved by the Audit Committee.
AUDIT-RELATED SERVICES
Audit-related services are assurance and related services that are reasonably related to the performance of the audit or review of the RIC’s financial statements or that are traditionally performed by the independent auditor. The Audit Committee believes that the provision of audit-related services does not impair the independence of the auditor, and has pre-approved certain audit-related services; all other audit-related services must be specifically pre-approved by the Audit Committee.
TAX SERVICES
The Audit Committee believes that the independent auditor can provide tax services to the RIC such as tax compliance, tax planning and tax advice without impairing the auditor’s independence. However, the Audit Committee will not permit the retention of the independent auditor in connection with a transaction initially recommended by the independent auditor, the purpose of which may be tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Audit Committee has pre-approved certain tax services; with limited exception, all tax services involving large and complex transactions must be specifically pre-approved by the Audit Committee.
ALL OTHER SERVICES
With respect to the provision of permissible services other than audit, review or attest services the pre-approval requirement is waived if:
(1) | With respect to such services rendered to the Funds, the aggregate amount of all such services provided constitutes no more than five percent of the total amount of revenues paid by the audit client to its accountant during the fiscal year in which the services are provided; and, |
(2) | With respect to such services rendered to the Fund’s investment adviser ( the “Adviser”)and any entity controlling, controlled by to under common control with the Adviser such as affiliated non-U.S. and U.S. funds not under the Audit Committee’s purview and which do not fall within a category of service which has been determined by the Audit Committee not to have a direct impact on the operations or financial reporting of the RIC, the aggregate amount of all services provided constitutes no more than five percent of the total amount of revenues paid to the RIC’s auditor by the RIC, its Adviser and any entity controlling, controlled by, or under common control with the Adviser during the fiscal year in which the services are provided; and |
(3) | Such services were not recognized by the issuer or RIC at the time of the engagement to be non-audit services; and |
(4) | Such services are promptly brought to the attention of the Audit Committee and approved prior to the completion of the audit by the Audit Committee or by one or more members of the Audit Committee who are members of the Board of Directors to whom authority to grant such approvals has been delegated by the Audit Committee. |
The Audit Committee may grant general pre-approval to those permissible non-audit services which qualify for pre-approval and which it believes are routine and recurring services, and would not impair the independence of the auditor.
The Securities and Exchange Commission’s (the “SEC”) rules and relevant guidance should be consulted to determine the precise definitions of these services and applicability of exceptions to certain of the prohibitions.
PRE-APPROVAL FEE LEVELS
Pre-approval fee levels for all services to be provided by the independent auditor will be established annually by the Audit Committee. Any proposed services exceeding these levels will require specific pre-approval by the Audit Committee.
PROCEDURES
Requests or applications to provide services that require specific approval by the Audit Committee will be submitted to the Audit Committee by the Fund’s Principal Accounting Officer and/or the Chief Audit Executive of Federated Hermes, Inc., only after those individuals have determined that the request or application is consistent with the SEC’s rules on auditor independence.
(e)(2) Percentage of services identified in items 4(b) through 4(d) that were approved by the registrant’s Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X:
4(b)
Fiscal year ended 2021 – 0%
Fiscal year ended 2020 - 0%
Percentage of services provided to the registrant’s Adviser and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the registrant that were approved by the registrant’s Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X, 0% and 0% respectively.
4(c)
Fiscal year ended 2021 – 0%
Fiscal year ended 2020 – 0%
Percentage of services provided to the registrant’s Adviser and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the registrant that were approved by the registrant’s Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X, 0% and 0% respectively.
4(d)
Fiscal year ended 2021 – 0%
Fiscal year ended 2020 – 0%
Percentage of services provided to the registrant’s Adviser and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the registrant that were approved by the registrant’s Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X, 0% and 0% respectively.
(f) | NA |
(g) | Non-Audit Fees billed to the registrant, the registrant’s Adviser, and certain entities controlling, controlled by or under common control with the Adviser: |
Fiscal year ended 2021 - $72,568
Fiscal year ended 2020 - $171,372
(h) | The registrant’s Audit Committee has considered that the provision of non-audit services that were rendered to the registrant’s Adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. |
Item 5. | Audit Committee of Listed Registrants |
Not Applicable
Item 6. | Schedule of Investments |
(a) The registrant’s Schedule of Investments is included as part of the Report to Stockholders filed under Item 1 of this form.
(b) Not Applicable; Fund had no divestments during the reporting period covered since the previous Form N-CSR filing.
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies |
Not Applicable
Item 8. | Portfolio Managers of Closed-End Management Investment Companies |
Not Applicable
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers |
Not Applicable
Item 10. | Submission of Matters to a Vote of Security Holders |
No Changes to Report
Item 11. | Controls and Procedures |
(a) The registrant’s President and Treasurer have concluded that the
registrant’s disclosure controls and procedures (as defined in rule 30a-3(c) under the Act) are effective in design and operation and are sufficient to form the basis of the certifications required by Rule 30a-(2) under the Act, based on their evaluation of these disclosure controls and procedures within 90 days of the filing date of this report on Form N-CSR.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in rule 30a-3(d) under the Act) during the registrant’s most recent fiscal half-year (the registrant’s second fiscal half-year in the case of an annual report) that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies |
Not Applicable
Item 13. | Exhibits |
(a)(1) Code of Ethics- Not Applicable to this Report.
(a)(2) Certifications of Principal Executive Officer and Principal Financial Officer.
(a)(3) Not Applicable.
(b) Certifications pursuant to 18 U.S.C. Section 1350.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant Federated Hermes Money Market Obligations Trust
By /S/ Lori A. Hensler
Lori A. Hensler, Principal Financial Officer
Date September 23, 2021
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By /S/ J. Christopher Donahue
J. Christopher Donahue, Principal Executive Officer
Date September 23, 2021
By /S/ Lori A. Hensler
Lori A. Hensler, Principal Financial Officer
Date September 23, 2021