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: 07/31/23
Date of Reporting Period: 07/31/23
Item 1. | Reports to Stockholders |
Ticker | FRFXX |
Federated Hermes Capital Reserves Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
Commercial Paper | 34.5% |
Variable Rate Instruments | 44.8% |
Bank Instruments | 3.3% |
Other Repurchase Agreements and Repurchase Agreements | 16.5% |
Cash Equivalent2 | 0.7% |
Other Assets and Liabilities—Net3 | 0.2% |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 71.9%5 |
8-30 Days | 2.0% |
31-90 Days | 8.2% |
91-180 Days | 13.6% |
181 Days or more | 4.1% |
Other Assets and Liabilities—Net3 | 0.2% |
TOTAL | 100% |
Principal Amount or Shares | Value | ||
1 | COMMERCIAL PAPER—34.5% | ||
Banking—11.7% | |||
$150,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(HSBC Bank PLC COL)/(Royal Bank of Canada COL), 5.330%, 8/1/2023 | $150,000,000 | |
25,000,000 | BPCE SA, 5.452%, 11/17/2023 | 24,602,125 | |
25,000,000 | HSBC USA, Inc., 5.788%, 11/20/2023 | 24,566,791 | |
85,000,000 | LMA-Americas LLC, (Credit Agricole Corporate and Investment Bank LIQ), 5.708%—5.743%, 12/1/2023 - 12/4/2023 | 83,383,629 | |
50,000,000 | Manhattan Asset Funding Company LLC, (Sumitomo Mitsui Banking Corp. LIQ), 5.310%, 8/1/2023 | 50,000,000 | |
20,000,000 | Royal Bank of Canada, 5.519%, 3/20/2024 | 19,323,333 | |
10,000,000 | Royal Bank of Canada, 5.522%, 10/31/2023 | 9,867,797 | |
50,000,000 | Societe Generale, Paris, 5.437%, 11/20/2023 | 49,184,458 | |
20,000,000 | Toronto Dominion Bank, 5.800%, 5/16/2024 | 19,119,353 | |
TOTAL | 430,047,486 | ||
Electric Power—4.1% | |||
150,000,000 | Avangrid, Inc., 5.414%—5.471%, 8/1/2023 - 8/8/2023 | 149,973,799 | |
Finance - Commercial—2.0% | |||
75,000,000 | Atlantic Asset Securitization LLC, 5.499%— 5.710%, 11/2/2023 - 12/4/2023 | 73,690,937 | |
Finance - Retail—10.8% | |||
100,000,000 | Chariot Funding LLC, 5.544%, 9/22/2023 | 99,211,333 | |
120,000,000 | Fairway Finance Co. LLC, 5.658%— 5.674%, 12/1/2023 - 12/8/2023 | 117,708,070 | |
50,000,000 | Old Line Funding, LLC, 4.960%, 8/2/2023 | 49,993,111 | |
35,000,000 | Sheffield Receivables Company LLC, 5.502%, 9/18/2023 | 34,746,833 | |
100,000,000 | Thunder Bay Funding, LLC, 5.711%, 12/15/2023 | 97,903,334 | |
TOTAL | 399,562,681 | ||
Food & Beverage—0.5% | |||
18,350,000 | Mondelez International, Inc., 5.412%, 8/7/2023 | 18,333,516 | |
Insurance—1.5% | |||
55,000,000 | UnitedHealth Group, Inc., 5.305%, 8/2/2023 | 54,991,903 | |
Oil & Oil Finance—3.9% | |||
125,000,000 | BP Capital Markets PLC, (Guaranteed by BP PLC), 5.396%, 8/4/2023 - 8/7/2023 | 124,921,396 |
Principal Amount or Shares | Value | ||
1 | COMMERCIAL PAPER—continued | ||
Oil & Oil Finance—continued | |||
$20,000,000 | TotalEnergies Capital, 5.703%, 11/27/2023 | $19,636,822 | |
TOTAL | 144,558,218 | ||
TOTAL COMMERCIAL PAPER | 1,271,158,540 | ||
2 | NOTES-VARIABLE—44.8% | ||
Banking—34.0% | |||
25,000,000 | Bank of Montreal, 6.050% (Secured Overnight Financing Rate +0.750%), 8/1/2023 | 25,000,000 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.950% (Secured Overnight Financing Rate +0.650%), 8/1/2023 | 50,000,000 | |
50,000,000 | Bank of Nova Scotia, Toronto, 6.050% (Secured Overnight Financing Rate +0.750%), 8/1/2023 | 50,000,000 | |
9,200,000 | Bragg 2019 Family Trust No. 1, Series 2019, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | 9,200,000 | |
50,000,000 | Canadian Imperial Bank of Commerce, 5.860% (Secured Overnight Financing Rate +0.560%), 8/1/2023 | 50,000,000 | |
75,000,000 | Canadian Imperial Bank of Commerce, 6.000% (Secured Overnight Financing Rate +0.700%), 8/1/2023 | 75,000,000 | |
25,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.520% (Secured Overnight Financing Rate +0.220%), 8/1/2023 | 25,000,000 | |
50,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.530% (Secured Overnight Financing Rate +0.230%), 8/1/2023 | 50,000,000 | |
1,550,000 | Colorado Health Facilities Authority, Series 2016B, (UMB Bank, N.A. LOC), 5.770%, 8/3/2023 | 1,550,000 | |
11,300,000 | Connecticut Water Co., Series 2004, (Citizens Bank, N.A. LOC), 5.670%, 8/2/2023 | 11,300,000 | |
6,750,000 | CT 2019 Irrevocable Trust, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | 6,750,000 | |
17,625,000 | EG Irrevocable Life Insurance Trust, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | 17,625,000 | |
9,590,000 | Eric and Lizzie Bommer Insurance Trust, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | 9,590,000 | |
4,410,000 | GM Enterprises of Oregon, Inc., Series 2017, (BMO Harris Bank, N.A. LOC), 5.400%, 8/3/2023 | 4,410,000 | |
23,445,000 | J.R. Adventures Insurance Trust, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | 23,445,000 | |
150,000,000 | Landesbank Baden-Wurttemberg, 5.600% (Secured Overnight Financing Rate +0.300%), 8/1/2023 | 150,000,000 | |
8,120,000 | MBW Legacy Investments, LLC, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | 8,120,000 | |
50,000,000 | MUFG Bank Ltd., 5.710% (Secured Overnight Financing Rate +0.400%), 8/1/2023 | 50,000,000 |
Principal Amount or Shares | Value | ||
2 | NOTES-VARIABLE—continued | ||
Banking—continued | |||
$11,255,000 | NLS 2015 Irrevocable Trust, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | $11,255,000 | |
15,000,000 | Nuveen Credit Strategies Income Fund, Taxable Preferred Shares (Series A), (Societe Generale, Paris LOC), 5.500%, 8/2/2023 | 15,000,000 | |
37,500,000 | Nuveen Preferred Income Opportunities Fund, Taxable Preferred Shares (Series A), (Sumitomo Mitsui Trust Bank Ltd. LOC), 5.440%, 8/3/2023 | 37,500,000 | |
50,000,000 | Nuveen Preferred Securities Income Fund, Variable Rate Demand Note (Series A), (Barclays Bank plc LIQ), 5.500%, 8/3/2023 | 50,000,000 | |
9,280,000 | Opler 2013 Irrevocable Trust, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | 9,280,000 | |
30,565,000 | RBS Insurance Trust, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | 30,565,000 | |
11,240,000 | Richard F. Wilks Spousal Gifting Trust, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | 11,240,000 | |
27,640,000 | Rockcrest, LLC, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | 27,640,000 | |
25,000,000 | Royal Bank of Canada, New York Branch, 5.880% (Secured Overnight Financing Rate +0.580%), 8/1/2023 | 25,000,000 | |
11,425,000 | Taxable Muni Funding Trust 2019-007, Taxable Municipal Funding Trust (Series 2019-007) VRDNs, (Barclays Bank plc LOC), 5.600%, 8/3/2023 | 11,425,000 | |
57,425,000 | Taxable Muni Funding Trust 2020-011, (Series 2020-011) VRDNs, (Barclays Bank plc LOC), 5.600%, 8/3/2023 | 57,425,000 | |
2,300,000 | Taxable Muni Funding Trust 2021-002, Barclays Taxable Muni Funding Trust (Series 2021-002) VRDNs, (Barclays Bank plc LOC), 5.600%, 8/3/2023 | 2,300,000 | |
2,800,000 | Taxable Muni Funding Trust 2021-007, (Series 2021-007) VRDNs, (Barclays Bank plc LOC), 5.600%, 8/3/2023 | 2,800,000 | |
14,300,000 | Taxable Muni Funding Trust 2021-008, Barclays Taxable Trust (Series 2021-008) VRDNs, (Barclays Bank plc LOC), 5.600%, 8/3/2023 | 14,300,000 | |
12,600,000 | Taxable Muni Funding Trust 2021-010, (Series 2021-010) VRDNs, (Barclays Bank plc LOC), 5.600%, 8/3/2023 | 12,600,000 | |
21,005,818 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 5.720%, 8/1/2023 | 21,005,818 | |
6,500,000 | Taxable Tender Option Bond Trust 2021-MIZ9064TX, (Series 2021-MIZ9064TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.720%, 8/3/2023 | 6,500,000 | |
5,150,000 | Taxable Tender Option Bond Trust 2022-MIZ9084TX, (Series 2022-MIZ9084TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.720%, 8/3/2023 | 5,150,000 | |
3,175,000 | Taxable Tender Option Bond Trust 2022-MIZ9094TX, (Series 2022-MIZ9094TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.720%, 8/3/2023 | 3,175,000 |
Principal Amount or Shares | Value | ||
2 | NOTES-VARIABLE—continued | ||
Banking—continued | |||
$9,825,000 | The KVR Insurance Trust, Series 2014, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | $9,825,000 | |
7,145,000 | The Raymon Lee Ince Irrevocable Trust, (BOKF, N.A. LOC), 5.520%, 8/3/2023 | 7,145,000 | |
25,000,000 | Toronto Dominion Bank, 6.010% (Secured Overnight Financing Rate +0.700%), 8/1/2023 | 25,000,000 | |
90,000,000 | Toronto Dominion Bank, 6.010% (Secured Overnight Financing Rate +0.700%), 8/1/2023 | 90,000,000 | |
35,000,000 | Versailles Commercial Paper LLC, (Natixis LIQ), 5.460% (Secured Overnight Financing Rate +0.160%), 8/1/2023 | 35,000,000 | |
50,000,000 | Versailles Commercial Paper LLC, (Natixis LIQ), 5.700% (Secured Overnight Financing Rate +0.400%), 8/1/2023 | 50,000,000 | |
50,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.830% (Secured Overnight Financing Rate +0.530%), 8/1/2023 | 50,000,000 | |
13,000,000 | Yavapai County, AZ IDA—Recovery Zone Facility (Drake Cement LLC), Taxble (Series 2015) Weekly VRDNs, (Bank of Nova Scotia, Toronto LOC), 5.150%, 8/3/2023 | 13,000,000 | |
TOTAL | 1,251,120,818 | ||
Finance - Retail—8.8% | |||
50,000,000 | Barton Capital S.A., 5.450% (Secured Overnight Financing Rate +0.150%), 8/1/2023 | 50,000,000 | |
50,000,000 | Barton Capital S.A., 5.480% (Secured Overnight Financing Rate +0.180%), 8/1/2023 | 50,000,000 | |
50,000,000 | Barton Capital S.A., 5.760% (Secured Overnight Financing Rate +0.460%), 8/1/2023 | 50,000,000 | |
25,000,000 | Starbird Funding Corp., 5.460% (Secured Overnight Financing Rate +0.160%), 8/1/2023 | 25,000,000 | |
40,000,000 | Starbird Funding Corp., 5.670% (Secured Overnight Financing Rate +0.370%), 8/1/2023 | 40,000,000 | |
30,000,000 | Starbird Funding Corp., 5.680% (Secured Overnight Financing Rate +0.380%), 8/1/2023 | 30,000,000 | |
30,000,000 | Starbird Funding Corp., 5.750% (Secured Overnight Financing Rate +0.450%), 8/1/2023 | 30,000,000 | |
50,000,000 | Starbird Funding Corp., 5.820% (Secured Overnight Financing Rate +0.520%), 8/1/2023 | 50,000,000 | |
TOTAL | 325,000,000 | ||
Finance - Commercial—1.1% | |||
40,000,000 | Atlantic Asset Securitization LLC, 5.760% (Secured Overnight Financing Rate +0.460%), 8/1/2023 | 40,000,000 | |
Government Agency—0.5% | |||
3,935,000 | Jerry P. Himmel Irrevocable Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 3,935,000 |
Principal Amount or Shares | Value | ||
2 | NOTES-VARIABLE—continued | ||
Government Agency—continued | |||
$7,060,000 | Millbrook, AL Redevelopment Authority, RAM Millbrook Hospitality LLC Project, Series 2017, (Federal Home Loan Bank of New York LOC), 5.200%, 8/3/2023 | $7,060,000 | |
6,060,000 | Roberts Insurance Trusts, LLC, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,060,000 | |
TOTAL | 17,055,000 | ||
Municipal—0.4% | |||
15,000,000 | Texas State, Veterans Bonds (Taxable Series 2023A) Weekly VRDNs, (Texas State LIQ), 5.420%, 8/2/2023 | 15,000,000 | |
TOTAL NOTES-VARIABLE | 1,648,175,818 | ||
CERTIFICATES OF DEPOSIT—3.3% | |||
Banking—3.3% | |||
38,000,000 | Canadian Imperial Bank of Commerce, 5.250%, 2/5/2024 | 38,000,000 | |
75,000,000 | Royal Bank of Canada, New York Branch, 6.020%, 7/2/2024 | 75,000,000 | |
10,000,000 | Toronto Dominion Bank, 5.000%, 9/26/2023 | 10,000,000 | |
TOTAL CERTIFICATES OF DEPOSIT | 123,000,000 | ||
OTHER REPURCHASE AGREEMENTS—12.8% | |||
125,000,000 | Repurchase agreement, 5.40% dated 7/31/2023 under which BNP Paribas SA will repurchase the securities provided as collateral for $125,018,750 on 8/1/2023. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were corporate bonds, asset-backed securities, collateralized mortgage-backed obligations, medium term notes and U.S. government agency securities with various maturities to 4/8/2068 and the market value of those underlying securities was $127,628,621. | 125,000,000 | |
50,000,000 | Interest in $100,000,000 joint repurchase agreement, 5.85% dated 12/6/2022 under which BofA Securities, Inc. will repurchase the securities provided as collateral for $104,468,750 on 9/7/2023. 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 10/25/2059 and the market value of those underlying securities was $102,016,575. | 50,000,000 | |
50,000,000 | Interest in $110,000,000 joint repurchase agreement, 5.41% dated 12/13/2022 under which BofA Securities, Inc. will repurchase the securities provided as collateral for $113,967,333 on 8/10/2023. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were corporate bonds with various maturities to 4/15/2043 and the market value of those underlying securities was $112,217,125. | 50,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS—continued | |||
$50,000,000 | Interest in $75,000,000 joint repurchase agreement, 5.35% dated 7/31/2023 under which BofA Securities, Inc. will repurchase the securities provided as collateral for $75,011,146 on 8/1/2023. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were commercial papers with various maturities to 1/8/2024 and the market value of those underlying securities was $76,500,000. | $50,000,000 | |
50,000,000 | Interest in $100,000,000 joint repurchase agreement, 5.50% dated 7/6/2023 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $100,534,722 on 8/10/2023. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were convertible bonds and U.S. Treasury securities with various maturities to 1/1/2999 and the market value of those underlying securities was $102,389,546. | 50,000,000 | |
60,000,000 | Repurchase agreement, 5.42% dated 7/31/2023 under which HSBC Securities (USA), Inc. will repurchase the securities provided as collateral for $60,009,033 on 8/1/2023. 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 12/31/2079 and the market value of those underlying securities was $61,200,454. | 60,000,000 | |
10,000,000 | Interest in $50,000,000 joint repurchase agreement, 5.76% dated 2/9/2023 under which Mizuho Securities USA LLC will repurchase the securities provided as collateral for $51,712,000 on 9/11/2023. 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 11/25/2050 and the market value of those underlying securities was $51,514,081. | 10,000,000 | |
25,000,000 | Repurchase agreement, 5.94% dated 6/16/2023 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $25,371,250 on 9/14/2023. 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 9/15/2027 and the market value of those underlying securities was $25,693,922. | 25,000,000 | |
25,000,000 | Repurchase agreement, 5.96% dated 2/3/2022 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $27,603,361 on 10/25/2023. 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 12/15/2026 and the market value of those underlying securities was $25,521,945. | 25,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS—continued | |||
$25,000,000 | Repurchase agreement, 5.94% dated 1/9/2023 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $26,167,375 on 10/19/2023. 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 12/15/2026 and the market value of those underlying securities was $25,546,646. | $25,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS | 470,000,000 | ||
REPURCHASE AGREEMENTS—3.7% | |||
50,000,000 | Interest in $450,000,000 joint repurchase agreement, 5.30% dated 7/31/2023 under which BMO Harris Bank will repurchase the securities provided as collateral for $450,066,250 on 8/1/2023. 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 12/20/2043 and the market value of those underlying securities was $464,524,649. | 50,000,000 | |
87,000,000 | Interest in $1,339,000,000 joint repurchase agreement, 5.30% dated 7/31/2023 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $1,339,197,131 on 8/1/2023. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury with various maturities to 12/31/2027 and the market value of those underlying securities was $1,365,981,158. | 87,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 137,000,000 | ||
INVESTMENT COMPANY—0.7% | |||
26,997,300 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 5.32%3 | 27,000,103 | |
TOTAL INVESTMENT IN SECURITIES—99.8% (AT AMORTIZED COST)4 | 3,676,334,461 | ||
OTHER ASSETS AND LIABILITIES—0.2%5 | 8,065,724 | ||
TOTAL NET ASSETS—100% | $3,684,400,185 |
Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | |
Value as of 7/31/2022 | $27,000,103 |
Purchases at Cost | $— |
Proceeds from Sales | $— |
Change in Unrealized Appreciation/Depreciation | $— |
Net Realized Gain/(Loss) | $— |
Value as of 7/31/2023 | $27,000,103 |
Shares Held as of 7/31/2023 | 26,997,300 |
Dividend Income | $1,116,594 |
Valuation Inputs | ||||
Level 1— Quoted Prices | Level 2— Other Significant Observable Inputs | Level 3— Significant Unobservable Inputs | Total | |
Debt Securities: | ||||
Commercial Paper | $— | $1,271,158,540 | $— | $1,271,158,540 |
Certificates of Deposit | — | 123,000,000 | — | 123,000,000 |
Notes-Variable | — | 1,648,175,818 | — | 1,648,175,818 |
Other Repurchase Agreements | — | 470,000,000 | — | 470,000,000 |
Repurchase Agreements | — | 137,000,000 | — | 137,000,000 |
Investment Company | 27,000,103 | — | — | 27,000,103 |
TOTAL SECURITIES | $27,000,103 | $3,649,334,358 | $— | $3,676,334,461 |
COL | —Collateralized |
GTD | —Guaranteed |
IDA | —Industrial Development Authority |
LIQ | —Liquidity Agreement |
LOC | —Letter of Credit |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31 | 2023 | 2022 | 2021 | 2020 | 2019 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income from Investment Operations: | |||||
Net investment income | 0.034 | 0.001 | 0.0001 | 0.007 | 0.016 |
Net realized gain (loss) | 0.0001 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.034 | 0.001 | 0.0001 | 0.007 | 0.016 |
Less Distributions: | |||||
Distributions from net income | (0.034) | (0.001) | (0.000)1 | (0.007) | (0.016) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.034) | (0.001) | (0.000)1 | (0.007) | (0.016) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.46% | 0.11% | 0.01% | 0.68% | 1.58% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 1.02%4 | 0.45% | 0.23%4 | 0.94%4 | 1.02%4 |
Net investment income | 3.36% | 0.11% | 0.01% | 0.65% | 1.58% |
Expense waiver/reimbursement5 | 0.18% | 0.76% | 0.97% | 0.28% | 0.19% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $3,684,400 | $4,375,913 | $4,295,924 | $4,312,748 | $4,030,191 |
July 31, 2023
Assets: | ||
Investment in securities, at value including, $27,000,103 of investment in affiliated holding* (identified cost $3,069,334,461 including $27,000,103 of identified cost in affiliated holding) | $3,069,334,461 | |
Investments in other repurchase agreements and repurchase agreements | 607,000,000 | |
Investment in securities, at amortized cost and fair value | $3,676,334,461 | |
Cash | 282,731 | |
Receivable for investments sold | 151,101,893 | |
Income receivable | 9,221,004 | |
Income receivable from affiliated holding | 121,038 | |
Receivable for shares sold | 220 | |
TOTAL ASSETS | 3,837,061,347 | |
Liabilities: | ||
Payable for investments purchased | 150,000,000 | |
Payable for shares redeemed | 4,293 | |
Payable for distribution services fee (Note 5) | 1,409,358 | |
Payable for other service fees (Notes 2 and 5) | 784,422 | |
Payable for investment adviser fee (Note 5) | 11,146 | |
Payable for administrative fee (Note 5) | 8,103 | |
Accrued expenses (Note 5) | 443,840 | |
TOTAL LIABILITIES | 152,661,162 | |
Net assets for 3,684,318,413 shares outstanding | $3,684,400,185 | |
Net Assets Consists of: | ||
Paid-in capital | $3,684,305,856 | |
Total distributable earnings (loss) | 94,329 | |
TOTAL NET ASSETS | $3,684,400,185 | |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | ||
$3,684,400,185 ÷ 3,684,318,413 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2023
Investment Income: | |||
Interest | $176,916,143 | ||
Dividends received from an affiliated holding* | 1,116,594 | ||
TOTAL INCOME | 178,032,737 | ||
Expenses: | |||
Investment adviser fee (Note 5) | $8,123,121 | ||
Administrative fee (Note 5) | 3,175,928 | ||
Custodian fees | 138,873 | ||
Transfer agent fees | 4,077,606 | ||
Directors’/Trustees’ fees (Note 5) | 22,858 | ||
Auditing fees | 25,135 | ||
Legal fees | 11,618 | ||
Distribution services fee (Note 5) | 22,338,582 | ||
Other service fees (Notes 2 and 5) | 10,023,479 | ||
Portfolio accounting fees | 180,304 | ||
Share registration costs | 574,562 | ||
Printing and postage | 262,173 | ||
Miscellaneous (Note 5) | 35,788 | ||
TOTAL EXPENSES | 48,990,027 | ||
Waivers, Reimbursement and Reduction: | |||
Waiver/reimbursement of investment adviser fee (Note 5) | $(3,393,698) | ||
Waiver of other operating expenses (Notes 2 and 5) | (4,061,560) | ||
Reduction of custodian fees (Note 6) | (25,662) | ||
TOTAL WAIVERS, REIMBURSEMENT AND REDUCTION | (7,480,920) | ||
Net expenses | 41,509,107 | ||
Net investment income | 136,523,630 | ||
Net realized gain on investments | 94,878 | ||
Change in net assets resulting from operations | $136,618,508 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $136,523,630 | $4,995,954 |
Net realized gain | 94,878 | 16,180 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 136,618,508 | 5,012,134 |
Distribution to shareholders | (136,565,720) | (4,972,760) |
Share Transactions: | ||
Proceeds from sale of shares | 1,930,583,347 | 1,758,477,348 |
Net asset value of shares issued to shareholders in payment of distributions declared | 132,614,687 | 4,899,871 |
Cost of shares redeemed | (2,754,763,773) | (1,683,427,684) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (691,565,739) | 79,949,535 |
Change in net assets | (691,512,951) | 79,988,909 |
Net Assets: | ||
Beginning of period | 4,375,913,136 | 4,295,924,227 |
End of period | $3,684,400,185 | $4,375,913,136 |
Year Ended July 31 | 2023 | 2022 |
Shares sold | 1,930,583,347 | 1,758,477,348 |
Shares issued to shareholders in payment of distributions declared | 132,614,687 | 4,899,871 |
Shares redeemed | (2,754,763,773) | (1,683,427,684) |
NET CHANGE RESULTING FROM FUND SHARE TRANSACTIONS | (691,565,739) | 79,949,535 |
2023 | 2022 | |
Ordinary Income1 | $136,562,136 | $4,972,760 |
Long-term capital gains | $3,584 | $— |
Undistributed ordinary income1 | $94,329 |
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 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual | $1,000 | $1,021.00 | $5.11 |
Hypothetical (assuming a 5% return before expenses) | $1,000 | $1,019.74 | $5.11 |
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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy Hospital. |
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; 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 | 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 | 66.8% |
U.S. Treasury Securities | 11.3% |
U.S. Government Agency Securities | 21.8% |
Other Assets and Liabilities—Net2 | 0.1% |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 88.5%4 |
8-30 Days | 0.5% |
31-90 Days | 3.3% |
91-180 Days | 2.3% |
181 Days or more | 5.3% |
Other Assets and Liabilities—Net2 | 0.1% |
TOTAL | 100% |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS—66.8% | |||
$250,000,000 | Repurchase agreement, 5.305% dated 7/31/2023 under which ABN Amro Bank N.V. will repurchase the securities provided as collateral for $250,036,840 on 8/1/2023. 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 4/1/2053 and the market value of those underlying securities was $255,673,394. | $250,000,000 | |
280,400,000 | Interest in $1,700,000,000 joint repurchase agreement, 5.300% dated 7/31/2023 under which Bank of America Securities, Inc. will repurchase the securities provided as collateral for $1,700,250,278 on 8/1/2023. 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 8/1/2056 and the market value of those underlying securities was $1,734,893,110. | 280,400,000 | |
150,000,000 | Repurchase agreement, 5.280% dated 7/31/2023 under which Bank of America Securities, Inc. will repurchase the securities provided as collateral for $150,022,000 on 8/1/2023. 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 11/30/2027 and the market value of those underlying securities was $153,022,490. | 150,000,000 | |
200,000,000 | Repurchase agreement, 5.360% dated 7/27/2023 under which Bank of America Securities, Inc. will repurchase the securities provided as collateral for $201,846,222 on 9/27/2023. 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 5/15/2032 and the market value of those underlying securities was $204,151,950. | 200,000,000 | |
150,000,000 | Repurchase agreement, 5.280% dated 7/31/2023 under which Barclays Capital, Inc. will repurchase the securities provided as collateral for $150,022,000 on 8/1/2023. 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 12/31/2029 and the market value of those underlying securities was $153,022,528. | 150,000,000 | |
50,000,000 | Repurchase agreement, 5.280% dated 7/31/2023 under which Barclays Capital, Inc. will repurchase the securities provided as collateral for $50,007,333 on 8/1/2023. 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 9/15/2025 and the market value of those underlying securities was $51,007,488. | 50,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS—continued | |||
$400,000,000 | Interest in $450,000,000 joint repurchase agreement, 5.300% dated 7/31/2023 under which BMO Harris Bank, N.A. will repurchase the securities provided as collateral for $450,066,250 on 8/1/2023. 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 12/20/2043 and the market value of those underlying securities was $464,524,649. | $400,000,000 | |
399,039,000 | Interest in $400,000,000 joint repurchase agreement, 5.270% dated 7/31/2023 under which BNP Paribas SA will repurchase the securities provided as collateral for $400,058,556 on 8/1/2023. 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 8/15/2046 and the market value of those underlying securities was $408,059,795. | 399,039,000 | |
122,000,000 | Repurchase agreement, 5.270% dated 7/31/2023 under which BNP Paribas SA will repurchase the securities provided as collateral for $122,017,859 on 8/1/2023. 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 8/15/2032 and the market value of those underlying securities was $124,458,261. | 122,000,000 | |
200,000,000 | Repurchase agreement, 5.350% dated 5/1/2023 under which BNP Paribas SA will repurchase the securities provided as collateral for $202,734,444 on 8/1/2023. 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 6/20/2053 and the market value of those underlying securities was $207,229,621. | 200,000,000 | |
1,052,000,000 | Interest in $1,339,000,000 joint repurchase agreement, 5.300% dated 7/31/2023 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $1,339,197,131 on 8/1/2023. 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 12/31/2027 and the market value of those underlying securities was $1,365,981,158. | 1,052,000,000 | |
100,000,000 | Repurchase agreement, 5.300% dated 7/31/2023 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $100,014,722 on 8/1/2023. 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 11/15/2028 and the market value of those underlying securities was $102,015,058. | 100,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS—continued | |||
$100,000,000 | Repurchase agreement, 5.350% dated 7/25/2023 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $101,278,056 on 10/19/2023. 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 12/20/2045 and the market value of those underlying securities was $102,104,144. | $100,000,000 | |
250,000,000 | Repurchase agreement, 5.350% dated 7/27/2023 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $252,080,556 on 9/21/2023. 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 11/15/2027 and the market value of those underlying securities was $255,189,521. | 250,000,000 | |
1,250,000,000 | Repurchase agreement, 5.300% dated 7/31/2023 under which Federal Reserve Bank of New York will repurchase the securities provided as collateral for $1,250,184,028 on 8/1/2023. 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 11/15/2031 and the market value of those underlying securities was $1,250,184,028. | 1,250,000,000 | |
50,000,000 | Repurchase agreement, 5.300% dated 7/31/2023 under which HSBC Securities (USA), Inc. will repurchase the securities provided as collateral for $50,007,361 on 8/1/2023. 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 1/31/2027 and the market value of those underlying securities was $51,000,012. | 50,000,000 | |
130,200,000 | Interest in $300,000,000 joint repurchase agreement, 5.270% dated 7/31/2023 under which Natixis Financial Products LLC will repurchase the securities provided as collateral for $300,043,917 on 8/1/2023. 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 5/15/2052 and the market value of those underlying securities was $306,044,878. | 130,200,000 | |
100,000,000 | Interest in $100,000,000 joint repurchase agreement, 5.340% dated 7/24/2023 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $100,459,833 on 8/24/2023. 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 7/1/2053 and the market value of those underlying securities was $102,103,927. | 100,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 5,233,639,000 | ||
U.S. TREASURY—11.3% | |||
82,000,000 | 1 | United States Treasury Bill, 5.215%, 12/28/2023 | 80,230,087 |
49,500,000 | 1 | United States Treasury Bill, 5.230%, 9/12/2023 | 49,197,967 |
25,000,000 | 1 | United States Treasury Bill, 5.250%, 1/18/2024 | 24,380,208 |
Principal Amount | Value | ||
U.S. TREASURY—continued | |||
$60,000,000 | 1 | United States Treasury Bills, 5.220%—5.230%, 10/31/2023 | $59,207,163 |
141,000,000 | 2 | United States Treasury Floating Rate Notes, 5.266% (91-day T-Bill -0.075%), 8/1/2023 | 140,960,050 |
107,000,000 | 2 | United States Treasury Floating Rate Notes, 5.326% (91-day T-Bill -0.015%), 8/1/2023 | 107,025,875 |
100,000,000 | 2 | United States Treasury Floating Rate Notes, 5.378% (91-day T-Bill +0.037%), 8/1/2023 | 99,946,400 |
39,600,000 | 2 | United States Treasury Floating Rate Notes, 5.476% (91-day T-Bill +0.125%), 8/1/2023 | 39,600,000 |
45,000,000 | 2 | United States Treasury Floating Rate Notes, 5.481% (91-day T-Bill +0.140%), 8/1/2023 | 44,955,742 |
76,000,000 | 2 | United States Treasury Floating Rate Notes, 5.510% (91-day T-Bill +0.169%), 8/1/2023 | 76,017,604 |
168,000,000 | 2 | United States Treasury Floating Rate Notes, 5.541% (91-day T-Bill +0.200%), 8/1/2023 | 168,029,244 |
TOTAL U.S. TREASURY | 889,550,340 | ||
GOVERNMENT AGENCIES—21.8% | |||
17,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.220%—5.460% (SOFR +0.160%), 8/1/2023 - 8/7/2023 | 17,000,000 |
79,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.325% (SOFR +0.025%), 8/1/2023 | 79,000,000 |
60,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.327% (SOFR +0.027%), 8/1/2023 | 59,997,919 |
32,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.340% (SOFR +0.040%), 8/1/2023 | 32,000,000 |
54,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.345% (SOFR +0.045%), 8/1/2023 | 54,000,000 |
134,775,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.350% (SOFR +0.050%), 8/1/2023 | 134,775,101 |
13,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.355% (SOFR +0.055%), 8/1/2023 | 13,000,000 |
52,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.360% (SOFR +0.060%), 8/1/2023 | 51,999,442 |
20,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.365% (SOFR +0.065%), 8/1/2023 | 19,999,692 |
12,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.375% (SOFR +0.075%), 8/1/2023 | 11,999,630 |
35,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.380% (SOFR +0.080%), 8/1/2023 | 34,998,972 |
50,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.385% (SOFR +0.085%), 8/1/2023 | 49,999,609 |
22,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.390% (SOFR +0.090%), 8/1/2023 | 22,000,000 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES—continued | |||
$10,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.395% (SOFR +0.095%), 8/1/2023 | $10,000,000 |
51,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.400% (SOFR +0.100%), 8/1/2023 | 50,995,069 |
16,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.405% (SOFR +0.105%), 8/1/2023 | 16,000,000 |
20,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.410% (SOFR +0.110%), 8/1/2023 | 20,000,000 |
20,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.420% (SOFR +0.120%), 8/1/2023 | 20,000,000 |
50,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.430% (SOFR +0.130%), 8/1/2023 | 49,999,542 |
12,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.470% (SOFR +0.170%), 8/1/2023 | 12,000,000 |
15,000,000 | 2 | Federal Farm Credit System Floating Rate Notes, 5.500% (SOFR +0.200%), 8/1/2023 | 15,000,000 |
75,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 5.360% (SOFR +0.060%), 8/1/2023 | 75,000,000 |
11,900,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 5.370% (SOFR +0.070%), 8/1/2023 | 11,900,000 |
75,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 5.390% (SOFR +0.090%), 8/1/2023 | 75,000,000 |
25,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 5.400% (SOFR +0.100%), 8/1/2023 | 25,000,000 |
50,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 5.420% (SOFR +0.120%), 8/1/2023 | 50,000,000 |
11,000,000 | 2 | Federal Home Loan Bank System Floating Rate Notes, 5.460% (SOFR +0.160%), 8/1/2023 | 11,000,000 |
648,600,000 | Federal Home Loan Bank System, 3.200%— 5.740%, 8/10/2023 - 8/14/2024 | 648,596,380 | |
35,000,000 | Federal Home Loan Mortgage Corp., 5.410%—5.420%, 6/14/2024 - 6/17/2024 | 35,000,000 | |
TOTAL GOVERNMENT AGENCIES | 1,706,261,356 | ||
TOTAL INVESTMENT IN SECURITIES—99.9% (AT AMORTIZED COST)3 | 7,829,450,696 | ||
OTHER ASSETS AND LIABILITIES - NET—0.1%4 | 9,448,405 | ||
TOTAL NET ASSETS—100% | $7,838,899,101 |
SOFR | —Secured Overnight Financing Rate |
Year Ended July 31 | 2023 | 2022 | 2021 | 2020 | 2019 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.032 | 0.0001 | 0.0001 | 0.006 | 0.015 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.032 | 0.0001 | 0.0001 | 0.006 | 0.015 |
Less Distributions: | |||||
Distributions from net investment income | (0.032) | (0.000)1 | (0.000)1 | (0.006) | (0.015) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | — | — |
TOTAL DISTRIBUTIONS | (0.032) | (0.000)1 | (0.000)1 | (0.006) | (0.015) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.23% | 0.09% | 0.01% | 0.61% | 1.47% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.87%4 | 0.29% | 0.11%4 | 0.64%4 | 0.87%4 |
Net investment income | 3.31% | 0.08% | 0.01% | 0.54% | 1.48% |
Expense waiver/reimbursement5 | 0.15% | 0.73% | 0.92% | 0.41% | 0.14% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $197,430 | $132,620 | $133,442 | $150,878 | $103,120 |
Year Ended July 31 | 2023 | 2022 | 2021 | 2020 | 2019 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.028 | 0.0001 | 0.0001 | 0.004 | 0.011 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.028 | 0.0001 | 0.0001 | 0.004 | 0.011 |
Less Distributions: | |||||
Distributions from net investment income | (0.028) | (0.000)1 | (0.000)1 | (0.004) | (0.011) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | — | — |
TOTAL DISTRIBUTIONS | (0.028) | (0.000)1 | (0.000)1 | (0.004) | (0.011) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 2.85% | 0.04% | 0.01% | 0.38% | 1.08% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 1.25%4 | 0.38% | 0.10%4 | 0.69%4 | 1.26%4 |
Net investment income | 2.82% | 0.04% | 0.01% | 0.22% | 1.09% |
Expense waiver/reimbursement5 | 0.08% | 0.94% | 1.23% | 0.65% | 0.08% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $5,524 | $5,543 | $5,677 | $8,299 | $4,505 |
Year Ended July 31 | 2023 | 2022 | 2021 | 2020 | 2019 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.032 | 0.0001 | 0.0001 | 0.006 | 0.015 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.032 | 0.0001 | 0.0001 | 0.006 | 0.015 |
Less Distributions: | |||||
Distributions from net investment income | (0.032) | (0.000)1 | (0.000)1 | (0.006) | (0.015) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | — | — |
TOTAL DISTRIBUTIONS | (0.032) | (0.000)1 | (0.000)1 | (0.006) | (0.015) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.23% | 0.09% | 0.01% | 0.61% | 1.47% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.87%4 | 0.30% | 0.11%4 | 0.62%4 | 0.87%4 |
Net investment income | 3.13% | 0.09% | 0.01% | 0.53% | 1.49% |
Expense waiver/reimbursement5 | 0.17% | 0.66% | 0.89% | 0.42% | 0.16% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,514 | $1,692 | $1,609 | $1,743 | $1,556 |
Year Ended July 31 | 2023 | 2022 | 2021 | 2020 | 2019 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.030 | 0.0001 | 0.0001 | 0.005 | 0.013 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.030 | 0.0001 | 0.0001 | 0.005 | 0.013 |
Less Distributions: | |||||
Distributions from net investment income | (0.030) | (0.000)1 | (0.000)1 | (0.005) | (0.013) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | — | — |
TOTAL DISTRIBUTIONS | (0.030) | (0.000)1 | (0.000)1 | (0.005) | (0.013) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.08% | 0.07% | 0.01% | 0.52% | 1.32% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 1.02%4 | 0.30% | 0.11%4 | 0.72%4 | 1.02%4 |
Net investment income | 2.93% | 0.06% | 0.01% | 0.47% | 1.31% |
Expense waiver/reimbursement5 | 0.18% | 0.89% | 1.09% | 0.48% | 0.18% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $7,634,431 | $10,881,572 | $11,417,910 | $10,706,195 | $8,069,420 |
July 31, 2023
Assets: | ||
Investment in securities | $2,595,811,696 | |
Investments in repurchase agreements | 5,233,639,000 | |
Investment in securities, at amortized cost and fair value | $7,829,450,696 | |
Cash | 474,909 | |
Income receivable | 19,599,236 | |
Receivable for shares sold | 2,320,718 | |
TOTAL ASSETS | 7,851,845,559 | |
Liabilities: | ||
Payable for investments purchased | 7,000,000 | |
Payable for shares redeemed | 219,675 | |
Income distribution payable | 11,454 | |
Payable for distribution services fee (Note 5) | 3,012,411 | |
Payable for other service fees (Notes 2 and 5) | 1,706,436 | |
Payable for transfer agent fee (Note 2) | 691,046 | |
Payable for investment adviser fee (Note 5) | 22,792 | |
Payable for administrative fee (Note 5) | 16,939 | |
Accrued expenses (Note 5) | 265,705 | |
TOTAL LIABILITIES | 12,946,458 | |
Net assets for 7,838,974,005 shares outstanding | $7,838,899,101 | |
Net Assets Consists of: | ||
Paid-in capital | $7,838,972,869 | |
Total distributable earnings (loss) | (73,768) | |
TOTAL NET ASSETS | $7,838,899,101 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | ||
Class A Shares: | ||
Net asset value per share ($197,430,281 ÷ 197,430,945 shares outstanding), no par value, unlimited shares authorized | $1.00 | |
Offering price per share | $1.00 | |
Redemption proceeds per share | $1.00 | |
Class C Shares: | ||
Net asset value per share ($5,524,079 ÷ 5,524,127 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 ($1,514,402 ÷ 1,514,417 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 ($7,634,430,339 ÷ 7,634,504,516 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, 2023
Investment Income: | |||
Interest | $362,308,214 | ||
Expenses: | |||
Investment adviser fee (Note 5) | $18,303,309 | ||
Administrative fee (Note 5) | 7,154,613 | ||
Custodian fees | 232,680 | ||
Transfer agent fees (Note 2) | 9,187,571 | ||
Directors’/Trustees’ fees (Note 5) | 57,894 | ||
Auditing fees | 25,134 | ||
Legal fees | 11,618 | ||
Distribution services fee (Note 5) | 50,184,563 | ||
Other service fees (Notes 2 and 5) | 22,715,962 | ||
Portfolio accounting fees | 194,875 | ||
Share registration costs | 1,012,781 | ||
Printing and postage | 606,569 | ||
Miscellaneous (Note 5) | 46,643 | ||
TOTAL EXPENSES | 109,734,212 | ||
Waivers, Reimbursement and Reduction: | |||
Waiver of investment adviser fee (Note 5) | $(7,309,153) | ||
Waiver/reimbursement of other operating expenses (Notes 2 and 5) | (9,096,808) | ||
Reduction of custodian fees (Note 6) | (21,868) | ||
TOTAL WAIVERS, REIMBURSEMENT AND REDUCTION | (16,427,829) | ||
Net expenses | 93,306,383 | ||
Net investment income | 269,001,831 | ||
Net realized loss on investments | (73,710) | ||
Change in net assets resulting from operations | $268,928,121 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $269,001,831 | $7,315,380 |
Net realized gain (loss) | (73,710) | 1,517 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 268,928,121 | 7,316,897 |
Distributions to Shareholders: | ||
Class A Shares | (5,254,064) | (116,462) |
Class B Shares1 | (4,065) | (198) |
Class C Shares | (147,477) | (2,468) |
Class F Shares | (56,047) | (1,463) |
Class P Shares | (263,542,725) | (7,518,693) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (269,004,378) | (7,639,284) |
Share Transactions: | ||
Proceeds from sale of shares | 5,994,126,633 | 9,137,625,168 |
Net asset value of shares issued to shareholders in payment of distributions declared | 260,058,260 | 7,474,688 |
Cost of shares redeemed | (9,437,116,336) | (9,682,351,270) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (3,182,931,443) | (537,251,414) |
Change in net assets | (3,183,007,700) | (537,573,801) |
Net Assets: | ||
Beginning of period | 11,021,906,801 | 11,559,480,602 |
End of period | $7,838,899,101 | $11,021,906,801 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Class A Shares | $36,344 | $(30,000) |
Class B Shares | 124 | (13) |
Class C Shares | 1,974 | — |
Class F Shares | 880 | (796) |
Class P Shares | 9,148,249 | — |
TOTAL | $9,187,571 | $(30,809) |
Other Service Fees Incurred | |
Class A Shares | $394,659 |
Class B Shares | 530 |
Class C Shares | 12,469 |
Class F Shares | 4,438 |
Class P Shares | 22,303,866 |
TOTAL | $22,715,962 |
Year Ended July 31 | 2023 | 2022 | ||
Class A Shares: | Shares | Amount | Shares | Amount |
Shares sold | 196,207,742 | $196,207,742 | 73,725,006 | $73,725,006 |
Shares issued to shareholders in payment of distributions declared | 5,141,164 | 5,141,164 | 113,787 | 113,787 |
Conversion of Class B to Class A Shares1 | 350,008 | 350,008 | — | — |
Shares redeemed | (136,887,847) | (136,887,847) | (74,657,374) | (74,657,374) |
NET CHANGE RESULTING FROM CLASS A SHARE TRANSACTIONS | 64,811,067 | $64,811,067 | (818,581) | $(818,581) |
Year Ended July 31 | 2023 | 2022 | ||
Class B Shares: | Shares | Amount | Shares | Amount |
Shares sold | 48,902 | $48,902 | 26,434 | $26,434 |
Shares issued to shareholders in payment of distributions declared | 3,342 | 3,342 | 170 | 170 |
Conversion of Class B to Class A Shares1 | (350,008) | (350,008) | — | — |
Shares redeemed | (182,655) | (182,655) | (388,664) | (388,664) |
NET CHANGE RESULTING FROM CLASS B SHARE TRANSACTIONS | (480,419) | $(480,419) | (362,060) | $(362,060) |
Year Ended July 31 | 2023 | 2022 | ||
Class C Shares: | Shares | Amount | Shares | Amount |
Shares sold | 5,415,527 | $5,415,527 | 8,302,537 | $8,302,537 |
Shares issued to shareholders in payment of distributions declared | 147,048 | 147,048 | 2,453 | 2,453 |
Shares redeemed | (5,581,042) | (5,581,042) | (8,438,969) | (8,438,969) |
NET CHANGE RESULTING FROM CLASS C SHARE TRANSACTIONS | (18,467) | $(18,467) | (133,979) | $(133,979) |
Year Ended July 31 | 2023 | 2022 | ||
Class F Shares: | Shares | Amount | Shares | Amount |
Shares sold | 942,849 | $942,849 | 639,953 | $639,953 |
Shares issued to shareholders in payment of distributions declared | 39,271 | 39,271 | 997 | 997 |
Shares redeemed | (1,159,359) | (1,159,359) | (558,280) | (558,280) |
NET CHANGE RESULTING FROM CLASS F SHARE TRANSACTIONS | (177,239) | $(177,239) | 82,670 | $82,670 |
Year Ended July 31 | 2023 | 2022 | ||
Class P Shares: | Shares | Amount | Shares | Amount |
Shares sold | 5,791,511,613 | $5,791,511,613 | 9,054,931,238 | $9,054,931,238 |
Shares issued to shareholders in payment of distributions declared | 254,727,435 | 254,727,435 | 7,357,281 | 7,357,281 |
Shares redeemed | (9,293,305,433) | (9,293,305,433) | (9,598,307,983) | (9,598,307,983) |
NET CHANGE RESULTING FROM CLASS P SHARE TRANSACTIONS | (3,247,066,385) | $(3,247,066,385) | (536,019,464) | $(536,019,464) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (3,182,931,443) | $(3,182,931,443) | (537,251,414) | $(537,251,414) |
2023 | 2022 | |
Ordinary income | $269,002,861 | $7,639,284 |
Long-term capital gains | $1,517 | $— |
Distribution payable | $(58) |
Capital loss carryforwards | $(73,710) |
TOTAL | $(73,768) |
Short-Term | Long-Term | Total |
$73,710 | $— | $73,710 |
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 C Shares | 0.75% |
Class F Shares | 0.45% |
Share Class Name | Percentage of Average Daily Net Assets of Class |
Class P Shares | 0.55% |
Distribution Service Fees Incurred | Distribution Services Fees Waived | |
Class A Shares | $713,840 | $(79,315) |
Class B Shares | 1,590 | — |
Class C Shares | 39,239 | — |
Class F Shares | 8,068 | (897) |
Class P Shares | 49,421,826 | (8,985,787) |
TOTAL | $50,184,563 | $(9,065,999) |
September 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual: | |||
Class A Shares | $1,000.00 | $1,020.00 | $4.36 |
Class C Shares | $1,000.00 | $1,018.20 | $6.20 |
Class F Shares | $1,000.00 | $1,020.10 | $4.36 |
Class P Shares | $1,000.00 | $1,019.30 | $5.11 |
Hypothetical (assuming a 5% return before expenses): | |||
Class A Shares | $1,000.00 | $1,020.48 | $4.36 |
Class C Shares | $1,000.00 | $1,018.65 | $6.21 |
Class F Shares | $1,000.00 | $1,020.48 | $4.36 |
Class P Shares | $1,000.00 | $1,019.74 | $5.11 |
Class A Shares | 0.87% |
Class C Shares | 1.24% |
Class F Shares | 0.87% |
Class P Shares | 1.02% |
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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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 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 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 | |
SDG | GPHXX |
Federated Hermes Government Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
Repurchase Agreements | 65.4% |
U.S. Government Agency Securities | 22.5% |
U.S. Treasury Securities | 8.7% |
Other Assets and Liabilities—Net2 | 3.4% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of 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 Days | 84.0% |
8-30 Days | 0.7% |
31-90 Days | 2.5% |
91-180 Days | 2.3% |
181 Days or more | 7.1% |
Other Assets and Liabilities—Net2 | 3.4% |
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— 22.5% | |||
$ 310,900,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.220% - 5.460% (SOFR +0.160%), 8/1/2023 - 8/7/2023 | $ 310,900,000 |
809,800,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.325% (SOFR +0.025%), 8/1/2023 | 809,800,000 |
178,600,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.327% (SOFR +0.027%), 8/1/2023 | 178,593,806 |
475,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.330% (SOFR +0.030%), 8/1/2023 | 474,999,471 |
265,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.335% (SOFR +0.035%), 8/1/2023 | 264,995,005 |
242,850,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.340% (SOFR +0.040%), 8/1/2023 | 242,850,000 |
557,650,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.345% (SOFR +0.045%), 8/1/2023 | 557,650,000 |
472,650,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.350% (SOFR +0.050%), 8/1/2023 | 472,650,000 |
612,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.355% (SOFR +0.055%), 8/1/2023 | 612,000,000 |
919,675,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.360% (SOFR +0.060%), 8/1/2023 | 919,673,069 |
265,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.365% (SOFR +0.065%), 8/1/2023 | 264,995,919 |
143,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.375% (SOFR +0.075%), 8/1/2023 | 142,995,590 |
580,400,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.380% (SOFR +0.080%), 8/1/2023 | 580,383,365 |
626,600,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.385% (SOFR +0.085%), 8/1/2023 | 626,594,725 |
962,550,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.390% (SOFR +0.090%), 8/1/2023 | 962,550,000 |
229,750,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.395% (SOFR +0.095%), 8/1/2023 | 229,750,000 |
981,750,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.400% (SOFR +0.100%), 8/1/2023 | 981,633,642 |
233,700,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.405% (SOFR +0.105%), 8/1/2023 | 233,700,000 |
714,800,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.410% (SOFR +0.110%), 8/1/2023 | 714,800,000 |
344,750,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.420% (SOFR +0.120%), 8/1/2023 | 344,750,000 |
1,049,400,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.430% (SOFR +0.130%), 8/1/2023 | 1,049,392,221 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES— continued | |||
$ 124,900,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.435% (SOFR +0.135%), 8/1/2023 | $ 124,900,000 |
168,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.470% (SOFR +0.170%), 8/1/2023 | 168,000,000 |
284,850,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.500% (SOFR +0.200%), 8/1/2023 | 284,850,000 |
1,500,000,000 | Federal Home Loan Bank System Discount Notes, 4.820% - 4.980%, 8/30/2023 - 9/19/2023 | 1,492,728,056 | |
95,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.330% (SOFR +0.030%), 8/1/2023 | 95,000,000 |
1,099,350,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.360% (SOFR +0.060%), 8/1/2023 | 1,099,350,000 |
172,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.370% (SOFR +0.070%), 8/1/2023 | 172,000,000 |
1,793,700,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.390% (SOFR +0.090%), 8/1/2023 | 1,793,700,000 |
399,750,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.400% (SOFR +0.100%), 8/1/2023 | 399,750,000 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.410% (SOFR +0.110%), 8/1/2023 | 50,009,692 |
1,924,250,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.420% (SOFR +0.120%), 8/1/2023 | 1,924,250,000 |
888,800,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.460% (SOFR +0.160%), 8/1/2023 | 888,800,000 |
12,325,350,000 | Federal Home Loan Bank System, 4.000% - 5.740%, 9/14/2023 - 8/14/2024 | 12,325,312,795 | |
507,150,000 | Federal Home Loan Mortgage Corp., 5.410% - 5.420%, 6/14/2024 - 6/17/2024 | 507,150,000 | |
279,113,000 | 1 | Housing and Urban Development Floating Rate Notes, 5.300% (91-day T-Bill +0.350%), 8/1/2023 | 279,113,000 |
TOTAL GOVERNMENT AGENCIES | 32,580,570,356 | ||
U.S. TREASURIES— 8.7% | |||
2 | U.S. Treasury Bills—2.7% | ||
1,446,000,000 | United States Treasury Bill, 5.215%, 12/28/2023 | 1,414,789,097 | |
890,000,000 | United States Treasury Bill, 5.230%, 9/12/2023 | 884,569,513 | |
481,000,000 | United States Treasury Bill, 5.250%, 1/18/2024 | 469,075,207 | |
1,091,350,000 | United States Treasury Bills, 5.220% - 5.245%, 10/31/2023 | 1,076,918,760 | |
TOTAL | 3,845,352,577 | ||
1 | U.S. Treasury Notes—6.0% | ||
671,000,000 | United States Treasury Floating Rate Notes, 5.266% (91-day T-Bill -0.075%), 8/1/2023 | 670,999,977 | |
639,290,000 | United States Treasury Floating Rate Notes, 5.326% (91-day T-Bill -0.015%), 8/1/2023 | 639,649,291 | |
2,138,000,000 | United States Treasury Floating Rate Notes, 5.378% (91-day T-Bill +0.037%), 8/1/2023 | 2,137,319,639 |
Principal Amount | Value | ||
U.S. TREASURIES— continued | |||
1 | U.S. Treasury Notes—6.0% | ||
$ 741,000,000 | United States Treasury Floating Rate Notes, 5.476% (91-day T-Bill +0.125%), 8/1/2023 | $ 741,000,000 | |
1,144,000,000 | United States Treasury Floating Rate Notes, 5.481% (91-day T-Bill +0.140%), 8/1/2023 | 1,143,424,821 | |
1,623,000,000 | United States Treasury Floating Rate Notes, 5.510% (91-day T-Bill +0.169%), 8/1/2023 | 1,623,397,047 | |
1,792,750,000 | United States Treasury Floating Rate Notes, 5.541% (91-day T-Bill +0.200%), 8/1/2023 | 1,793,208,752 | |
TOTAL | 8,748,999,527 | ||
TOTAL U.S. TREASURIES | 12,594,352,104 | ||
REPURCHASE AGREEMENTS— 65.4% | |||
150,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which ABN Amro Bank N.V., Netherlands will repurchase securities provided as collateral for $150,022,125 on 8/1/2023. 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 4/1/2053 and the market value of those underlying securities was $153,329,765. | 150,000,000 | |
1,900,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which HSBC Securities (USA), Inc. will repurchase securities provided as collateral for $2,000,294,444 on 8/1/2023. 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 5/1/2058 and the market value of those underlying securities was $2,040,000,000. | 1,900,000,000 | |
2,300,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Bank of Nova Scotia will repurchase securities provided as collateral for $2,300,338,611 on 8/1/2023. 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 7/20/2053 and the market value of those underlying securities was $2,346,345,434. | 2,300,000,000 | |
1,506,525,000 | Interest in $1,550,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Mizuho Securities USA, Inc. will repurchase securities provided as collateral for $1,550,228,194 on 8/1/2023. 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 7/15/2058 and the market value of those underlying securities was $1,584,082,879. | 1,506,525,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,781,500,000 | Interest in $1,800,000,000 joint repurchase agreement 5.31%, dated 7/31/2023 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $1,800,265,500 on 8/1/2023. 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 10/16/2062 and the market value of those underlying securities was $1,836,736,753. | $ 1,781,500,000 | |
1,000,000,000 | Repurchase agreement 5.31%, dated 7/18/2023 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $1,009,587,500 on 9/21/2023. 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 2/1/2057 and the market value of those underlying securities was $1,022,106,300. | 1,000,000,000 | |
500,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which BMO Capital Markets Corp. will repurchase securities provided as collateral for $500,073,611 on 8/1/2023. 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 8/20/2069 and the market value of those underlying securities was $511,653,057. | 500,000,000 | |
1,100,000,000 | Interest in $1,650,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Mitsubishi UFJ Securities (USA), Inc. will repurchase securities provided as collateral for $1,650,242,917 on 8/1/2023. 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 7/20/2069 and the market value of those underlying securities was $1,689,159,558. | 1,100,000,000 | |
1,156,354,000 | Interest in $3,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,441,667 on 8/1/2023. 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 10/20/2052 and the market value of those underlying securities was $3,060,450,501. | 1,156,354,000 | |
300,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which ING Financial Markets LLC will repurchase securities provided as collateral for $300,044,167 on 8/1/2023. 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 7/20/2053 and the market value of those underlying securities was $306,045,106. | 300,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 397,000,000 | Repurchase agreement 5.27%, dated 7/31/2023 under which BNP Paribas S.A. will repurchase securities provided as collateral for $397,058,116 on 8/1/2023. 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 11/15/2032 and the market value of those underlying securities was $404,999,283. | $ 397,000,000 | |
1,300,000,000 | Interest in $2,300,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $2,300,338,611 on 8/1/2023. 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 9/15/2065 and the market value of those underlying securities was $2,345,460,138. | 1,300,000,000 | |
465,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $2,000,294,444 on 8/1/2023. 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 5/15/2049 and the market value of those underlying securities was $2,040,300,364. | 465,000,000 | |
230,000,000 | Repurchase agreement 5.28%, dated 7/31/2023 under which Barclays Capital, Inc. will repurchase a security provided as collateral for $230,033,733 on 8/1/2023. The security provided as collateral at the end of the period held with BNY Mellon as tri-party agent, was a U.S. Treasury security maturing on 1/31/2030 and the market value of that underlying security was $234,634,490. | 230,000,000 | |
75,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which HSBC Securities (USA), Inc. will repurchase securities provided as collateral for $75,011,042 on 8/1/2023. 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 7/1/2053 and the market value of those underlying securities was $76,500,001. | 75,000,000 | |
1,255,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,255,185,113 on 8/1/2023. 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 5/1/2053 and the market value of those underlying securities was $1,292,650,000. | 1,255,000,000 | |
1,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,000,147,222 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian, were U.S. Government Agency securities with various maturities to 2/15/2041 and the market value of those underlying securities was $1,020,873,945. | 1,000,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,050,000,000 | Interest in $1,150,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Bank of Montreal will repurchase securities provided as collateral for $1,150,169,306 on 8/1/2023. 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 2/20/2073 and the market value of those underlying securities was $1,184,116,877. | $ 1,050,000,000 | |
700,000,000 | Repurchase agreement 5.32%, dated 7/27/2023 under which Bank of Montreal will repurchase securities provided as collateral for $702,172,333 on 8/17/2023. 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 8/1/2053 and the market value of those underlying securities was $714,527,567. | 700,000,000 | |
402,737,500 | Repurchase agreement 5.32%, dated 7/31/2023 under which Prudential Insurance Co. of America will repurchase securities provided as collateral for $402,797,016 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian, were U.S. Government Agency securities with various maturities to 4/15/2030 and the market value of those underlying securities was $411,772,405. | 402,737,500 | |
37,062,500 | Repurchase agreement 5.31%, dated 7/31/2023 under which Prudential Legacy Insurance Co. of NJ will repurchase a security provided as collateral for $37,067,967 on 8/1/2023. The security provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian, was a U.S. Treasury security maturing on 5/15/2030 and the market value of that underlying security was $37,810,000. | 37,062,500 | |
1,500,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.34%, dated 7/27/2023 under which Royal Bank of Canada, New York Branch will repurchase securities provided as collateral for $2,016,613,333 on 9/21/2023. 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 7/1/2060 and the market value of those underlying securities was $2,058,263,368. | 1,500,000,000 | |
3,479,860,000 | Interest in $3,500,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which BNP Paribas S.A. will repurchase securities provided as collateral for $3,500,515,278 on 8/1/2023. 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 3/15/2063 and the market value of those underlying securities was $3,573,698,379. | 3,479,860,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,450,000,000 | Interest in $1,800,000,000 joint repurchase agreement 5.35%, dated 5/1/2023 under which BNP Paribas S.A. will repurchase securities provided as collateral for $1,824,610,000 on 8/1/2023. 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 11/15/2057 and the market value of those underlying securities was $1,864,108,696. | $ 1,450,000,000 | |
400,000,000 | Interest in $500,000,000 joint repurchase agreement 5.35%, dated 7/21/2023 under which BNP Paribas S.A. will repurchase securities provided as collateral for $506,984,722 on 10/23/2023. 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 8/20/2071 and the market value of those underlying securities was $511,741,112. | 400,000,000 | |
230,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which Credit Agricole Corporate and Investment Bank will repurchase securities provided as collateral for $230,033,925 on 8/1/2023. 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 5/1/2053 and the market value of those underlying securities was $234,634,571. | 230,000,000 | |
1,028,000,000 | Repurchase agreement 5.28%, dated 7/31/2023 under which BofA Securities, Inc. will repurchase securities provided as collateral for $1,028,152,487 on 8/1/2023. 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 2/15/2052 and the market value of those underlying securities was $1,048,713,803. | 1,028,000,000 | |
1,036,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which BofA Securities, Inc. will repurchase securities provided as collateral for $1,036,152,522 on 8/1/2023. 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 8/1/2053 and the market value of those underlying securities was $1,056,875,573. | 1,036,000,000 | |
400,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $400,058,889 on 8/1/2023. 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 11/1/2052 and the market value of those underlying securities was $408,463,866. | 400,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,161,000,000 | Interest in $3,161,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $3,161,465,369 on 8/1/2023. 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 5/15/2053 and the market value of those underlying securities was $3,224,694,709. | $ 1,161,000,000 | |
1,744,196,000 | Interest in $1,820,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Bank of America, N.A. will repurchase a security provided as collateral for $1,820,267,944 on 8/1/2023. The security provided as collateral at the end of the period held with BNY Mellon as tri-party agent, was a U.S. Government Agency security maturing on 7/20/2052 and the market value of that underlying security was $1,856,673,303. | 1,744,196,000 | |
700,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.31%, dated 7/26/2023 under which CIBC World Markets Corp. will repurchase securities provided as collateral for $1,008,260,000 on 9/21/2023. 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 2/15/2053 and the market value of those underlying securities was $1,028,425,203. | 700,000,000 | |
716,500,000 | Interest in $775,000,000 joint repurchase agreement 5.31%, dated 7/31/2023 under which ABN Amro Bank N.V., Netherlands will repurchase securities provided as collateral for $775,114,313 on 8/1/2023. 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 4/1/2053 and the market value of those underlying securities was $791,590,723. | 716,500,000 | |
2,625,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $2,625,387,188 on 8/1/2023. 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 2/1/2057 and the market value of those underlying securities was $2,702,567,631. | 2,625,000,000 | |
800,000,000 | Repurchase agreement 5.34%, dated 7/19/2023 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $803,560,000 on 8/18/2023. 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 6/1/2057 and the market value of those underlying securities was $817,502,800. | 800,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 750,000,000 | Interest in $900,000,000 joint repurchase agreement 5.34%, dated 7/24/2023 under which Wells Fargo Securities LLC will repurchase a security provided as collateral for $904,005,000 on 8/24/2023. The security provided as collateral at the end of the period held with BNY Mellon as tri-party agent, was a U.S. Government Agency security maturing on 4/20/2053 and the market value of that underlying security was $918,935,341. | $ 750,000,000 | |
675,000,000 | Interest in $1,250,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which TD Securities (USA), LLC will repurchase securities provided as collateral for $1,250,184,028 on 8/1/2023. 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 7/20/2053 and the market value of those underlying securities was $1,277,926,884. | 675,000,000 | |
400,000,000 | Repurchase agreement 5.32%, dated 7/26/2023 under which Credit Agricole Corporate and Investment Bank will repurchase a security provided as collateral for $403,310,222 on 9/21/2023. The security provided as collateral at the end of the period held with BNY Mellon as tri-party agent, was a U.S. Government Agency security maturing on 3/20/2053 and the market value of that underlying security was $408,301,467. | 400,000,000 | |
750,000,000 | Interest in $1,250,000,000 joint repurchase agreement 5.35%, dated 7/27/2023 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,260,402,778 on 9/21/2023. 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 2/16/2064 and the market value of those underlying securities was $1,276,928,573. | 750,000,000 | |
400,000,000 | Interest in $500,000,000 joint repurchase agreement 5.31%, dated 7/26/2023 under which Goldman Sachs & Co. will repurchase securities provided as collateral for $500,442,500 on 8/2/2023. 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 7/15/2062 and the market value of those underlying securities was $510,646,609. | 400,000,000 | |
1,400,000,000 | Interest in $1,900,000,000 joint repurchase agreement 5.35%, dated 7/25/2023 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,924,283,056 on 10/19/2023. 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 4/1/2056 and the market value of those underlying securities was $1,939,978,441. | 1,400,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,600,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.34%, dated 7/6/2023 under which Royal Bank of Canada, New York Branch will repurchase securities provided as collateral for $2,036,786,667 on 11/7/2023. 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 8/1/2059 and the market value of those underlying securities was $2,077,222,761. | $ 1,600,000,000 | |
3,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $3,000,441,667 on 8/1/2023. 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 8/1/2056 and the market value of those underlying securities was $3,090,551,523. | 3,000,000,000 | |
1,000,000,000 | Interest in $1,500,000,000 joint repurchase agreement 5.34%, dated 7/27/2023 under which BofA Securities, Inc. will repurchase securities provided as collateral for $1,512,320,000 on 9/21/2023. 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 8/1/2053 and the market value of those underlying securities was $1,531,134,750. | 1,000,000,000 | |
2,799,000,000 | Interest in $3,800,000,000 joint repurchase agreement 5.36%, dated 7/27/2023 under which BofA Securities, Inc. will repurchase securities provided as collateral for $3,835,078,222 on 9/27/2023. 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 10/25/2058 and the market value of those underlying securities was $3,916,913,756. | 2,799,000,000 | |
800,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.34%, dated 7/11/2023 under which Royal Bank of Canada, New York Branch will repurchase securities provided as collateral for $1,017,800,000 on 11/9/2023. 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 7/1/2060 and the market value of those underlying securities was $1,038,815,326. | 800,000,000 | |
20,750,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $20,753,054,861 on 8/1/2023. 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 5/15/2032 and the market value of those underlying securities was $20,753,054,912. | 20,750,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,700,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.37%, dated 5/30/2023 under which Royal Bank of Canada, New York Branch will repurchase securities provided as collateral for $2,026,850,000 on 8/28/2023. 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 7/1/2053 and the market value of those underlying securities was $2,066,667,992. | $ 1,700,000,000 | |
4,000,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $4,000,590,000 on 8/1/2023. 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 3/31/2028 and the market value of those underlying securities was $4,080,000,082. | 4,000,000,000 | |
1,000,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,000,147,500 on 8/1/2023. 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 6/20/2063 and the market value of those underlying securities was $1,020,000,000. | 1,000,000,000 | |
2,900,000,000 | Interest in $3,500,000,000 joint repurchase agreement 5.38%, dated 5/30/2023 under which Royal Bank of Canada, New York Branch will repurchase securities provided as collateral for $3,562,766,667 on 9/27/2023. 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 3/1/2062 and the market value of those underlying securities was $3,632,863,413. | 2,900,000,000 | |
1,375,000,000 | Interest in $2,750,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Standard Chartered Bank will repurchase securities provided as collateral for $2,750,404,861 on 8/1/2023. 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 8/17/2023 and the market value of those underlying securities was $2,805,413,046. | 1,375,000,000 | |
750,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Standard Chartered Bank will repurchase securities provided as collateral for $750,110,417 on 8/1/2023. 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 7/1/2053 and the market value of those underlying securities was $765,892,875. | 750,000,000 | |
500,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $500,073,750 on 8/1/2023. 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 $510,076,207. | 500,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 4,000,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $4,000,590,000 on 8/1/2023. 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 5/15/2053 and the market value of those underlying securities was $4,080,000,014. | $ 4,000,000,000 | |
2,000,000,000 | Interest in $2,500,000,000 joint repurchase agreement 5.31%, dated 7/26/2023 under which Societe Generale, New York will repurchase securities provided as collateral for $2,502,581,250 on 8/2/2023. 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 8/1/2056 and the market value of those underlying securities was $2,552,256,751. | 2,000,000,000 | |
3,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $3,000,441,667 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian, were U.S. Government Agency securities with various maturities to 11/15/2049 and the market value of those underlying securities was $3,062,031,973. | 3,000,000,000 | |
1,000,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which Australia & New Zealand Banking Group, Melbourne will repurchase securities provided as collateral for $1,000,147,500 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian, were U.S. Government Agency securities with various maturities to 8/15/2047 and the market value of those underlying securities was $1,020,168,337. | 1,000,000,000 | |
1,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,000,147,222 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian, were U.S. Government Agency securities with various maturities to 8/15/2047 and the market value of those underlying securities was $1,023,023,830. | 1,000,000,000 | |
450,002,900 | Repurchase agreement 5.30%, dated 7/31/2023 under which Metropolitan Life Insurance Co. will repurchase securities provided as collateral for $450,069,150 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian, were U.S. Treasury securities with various maturities to 8/31/2026 and the market value of those underlying securities was $459,095,089. | 450,002,900 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,000,147,222 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian, were U.S. Treasury securities with various maturities to 11/15/2052 and the market value of those underlying securities was $1,021,068,748. | $ 1,000,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 94,875,737,900 | ||
TOTAL INVESTMENT IN SECURITIES—96.6% (AT AMORTIZED COST)3 | 140,050,660,360 | ||
OTHER ASSETS AND LIABILITIES - NET—3.4%4 | 4,890,070,534 | ||
TOTAL NET ASSETS—100% | $144,940,730,894 |
1 | Floating/variable note with current rate and current maturity or next reset date shown. |
2 | Discount rate(s) at time of purchase. |
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: | ||
SOFR | —Secured Overnight Financing Rate |
Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0262 | 0.003 | 0.0003 | 0.012 | 0.012 |
Net realized gain (loss) | 0.014 | (0.000)3 | 0.0003 | (0.001) | (0.000)3 |
Total From Investment Operations | 0.040 | 0.003 | 0.0003 | 0.011 | 0.012 |
Less Distributions: | |||||
Distributions from net investment income | (0.040) | (0.003) | (0.000)3 | (0.011) | (0.012) |
Distributions from net realized gain | — | — | — | (0.000)3 | — |
Total Distributions | (0.040) | (0.003) | (0.000)3 | (0.011) | (0.012) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 4.03% | 0.31% | 0.02% | 1.12% | 1.23% |
Ratios to Average Net Assets: | |||||
Net expenses5 | 0.17% | 0.09% | 0.11% | 0.17% | 1.15% |
Net investment income | 2.56% | 0.25% | 0.02% | 0.74% | 1.21% |
Expense waiver/reimbursement6 | 0.13% | 0.22% | 0.20% | 0.14% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $181,157 | $5,921,339 | $8,073,883 | $7,328,261 | $3,307 |
1 | Effective August 1, 2019, the Class R Shares were re-designated as Select Shares. |
2 | Per share number has been calculated using the average shares method. |
3 | Represents less than $0.001. |
4 | Based on net asset value. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0391 | 0.003 | 0.0002 | 0.011 | 0.021 |
Net realized gain (loss) | 0.0002 | (0.000)2 | — | (0.000)2 | (0.000)2 |
Total From Investment Operations | 0.039 | 0.003 | 0.0002 | 0.011 | 0.021 |
Less Distributions: | |||||
Distributions from net investment income | (0.039) | (0.003) | (0.000)2 | (0.011) | (0.021) |
Distributions from net realized gain | — | — | — | (0.000)2 | — |
Total Distributions | (0.039) | (0.003) | (0.000)2 | (0.011) | (0.021) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 3.99% | 0.30% | 0.02% | 1.09% | 2.17% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.20% | 0.10% | 0.10% | 0.19% | 0.19% |
Net investment income | 3.92% | 0.28% | 0.02% | 0.97% | 2.15% |
Expense waiver/reimbursement5 | 0.13% | 0.23% | 0.23% | 0.15% | 0.14% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $28,952,071 | $31,227,810 | $31,176,397 | $29,928,127 | $23,667,498 |
1 | Per share number has been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | 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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0371 | 0.002 | 0.0002 | 0.009 | 0.019 |
Net realized gain (loss) | (0.000)2 | (0.000)2 | — | 0.0002 | (0.000)2 |
Total From Investment Operations | 0.037 | 0.002 | 0.0002 | 0.009 | 0.019 |
Less Distributions: | |||||
Distributions from net investment income | (0.037) | (0.002) | (0.000)2 | (0.009) | (0.019) |
Distributions from net realized gain | — | — | — | (0.000)2 | — |
Total Distributions | (0.037) | (0.002) | (0.000)2 | (0.009) | (0.019) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 3.76% | 0.22% | 0.02% | 0.91% | 1.94% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.42% | 0.17% | 0.11% | 0.38% | 0.42% |
Net investment income | 3.73% | 0.19% | 0.01% | 0.83% | 1.93% |
Expense waiver/reimbursement5 | 0.13% | 0.38% | 0.43% | 0.17% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $10,250,481 | $10,082,923 | $13,157,890 | $12,300,069 | $10,249,258 |
1 | Per share number has been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | 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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0441 | 0.046 | 0.024 | 0.009 | 0.019 |
Net realized gain (loss) | (0.007) | (0.044) | (0.024) | (0.000)2 | (0.000)2 |
Total From Investment Operations | 0.037 | 0.002 | 0.0002 | 0.009 | 0.019 |
Less Distributions: | |||||
Distributions from net investment income | (0.037) | (0.002) | (0.000)2 | (0.009) | (0.019) |
Distributions from net realized gain | — | — | — | (0.000)2 | — |
Total Distributions | (0.037) | (0.002) | (0.000)2 | (0.009) | (0.019) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 3.73% | 0.22% | 0.02% | 0.88% | 1.90% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.45% | 0.14% | 0.19% | 0.41% | 0.45% |
Net investment income | 4.43% | 0.14% | 0.01% | 0.89% | 1.97% |
Expense waiver/reimbursement5 | 0.13% | 0.43% | 0.39% | 0.18% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $9,462 | $78 | $219 | $253,981 | $176,438 |
1 | Per share number has been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | 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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0331 | 0.001 | 0.0002 | 0.006 | 0.015 |
Net realized gain (loss) | (0.000)2 | (0.000)2 | — | 0.0002 | (0.000)2 |
Total From Investment Operations | 0.033 | 0.001 | 0.0002 | 0.006 | 0.015 |
Less Distributions: | |||||
Distributions from net investment income | (0.033) | (0.001) | (0.000)2 | (0.006) | (0.015) |
Distributions from net realized gain | — | — | — | (0.000)2 | — |
Total Distributions | (0.033) | (0.001) | (0.000)2 | (0.006) | (0.015) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 3.33% | 0.12% | 0.02% | 0.63% | 1.51% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.84% | 0.27% | 0.11% | 0.64% | 0.84% |
Net investment income | 3.32% | 0.11% | 0.01% | 0.61% | 1.51% |
Expense waiver/reimbursement5 | 0.13% | 0.70% | 0.86% | 0.34% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $641,702 | $567,676 | $625,477 | $599,710 | $534,565 |
1 | Per share number has been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | 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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0341 | 0.001 | 0.0002 | 0.005 | 0.013 |
Net realized gain (loss) | (0.003) | (0.000)2 | — | 0.0002 | (0.000)2 |
Total From Investment Operations | 0.031 | 0.001 | 0.0002 | 0.005 | 0.013 |
Less Distributions: | |||||
Distributions from net investment income | (0.031) | (0.001) | (0.000)2 | (0.005) | (0.013) |
Distributions from net realized gain | — | — | — | (0.000)2 | — |
Total Distributions | (0.031) | (0.001) | (0.000)2 | (0.005) | (0.013) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 3.18% | 0.10% | 0.02% | 0.54% | 1.35% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.98% | 0.26% | 0.11% | 0.71% | 1.00% |
Net investment income | 3.38% | 0.08% | 0.01% | 0.48% | 1.35% |
Expense waiver/reimbursement5 | 0.18% | 0.93% | 1.07% | 0.47% | 0.18% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $902,755 | $307,895 | $526,713 | $349,935 | $259,284 |
1 | Per share number has been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | 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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0381 | 0.003 | 0.0002 | 0.010 | 0.020 |
Net realized gain (loss) | 0.0002 | (0.000)2 | — | (0.000)2 | (0.000)2 |
Total From Investment Operations | 0.038 | 0.003 | 0.0002 | 0.010 | 0.020 |
Less Distributions: | |||||
Distributions from net investment income | (0.038) | (0.003) | (0.000)2 | (0.010) | (0.020) |
Distributions from net realized gain | — | — | — | (0.000)2 | — |
Total Distributions | (0.038) | (0.003) | (0.000)2 | (0.010) | (0.020) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 3.89% | 0.26% | 0.02% | 0.99% | 2.05% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.30% | 0.14% | 0.12% | 0.30% | 0.30% |
Net investment income | 3.81% | 0.24% | 0.01% | 0.94% | 2.04% |
Expense waiver/reimbursement5 | 0.13% | 0.30% | 0.32% | 0.14% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $3,529,186 | $3,094,786 | $3,044,642 | $3,454,165 | $3,399,696 |
1 | Per share number has been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | 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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0351 | 0.002 | 0.0002 | 0.007 | 0.017 |
Net realized gain (loss) | (0.001) | (0.000)2 | — | (0.000)2 | (0.000)2 |
Total From Investment Operations | 0.034 | 0.002 | 0.0002 | 0.007 | 0.017 |
Less Distributions: | |||||
Distributions from net investment income | (0.034) | (0.002) | (0.000)2 | (0.007) | (0.017) |
Distributions from net realized gain | — | — | — | (0.000)2 | — |
Total Distributions | (0.034) | (0.002) | (0.000)2 | (0.007) | (0.017) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 3.50% | 0.16% | 0.02% | 0.73% | 1.67% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.68% | 0.24% | 0.12% | 0.54% | 0.69% |
Net investment income | 3.52% | 0.13% | 0.01% | 0.66% | 1.71% |
Expense waiver/reimbursement5 | 0.13% | 0.59% | 0.71% | 0.29% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,331,183 | $1,276,028 | $2,658,370 | $3,303,066 | $2,472,153 |
1 | Per share number has been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | 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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0401 | 0.003 | 0.0002 | 0.011 | 0.022 |
Net realized gain (loss) | (0.000)2 | (0.000)2 | — | 0.0002 | (0.000)2 |
Total From Investment Operations | 0.040 | 0.003 | 0.0002 | 0.011 | 0.022 |
Less Distributions: | |||||
Distributions from net investment income | (0.040) | (0.003) | (0.000)2 | (0.011) | (0.022) |
Distributions from net realized gain | — | — | — | (0.000)2 | — |
Total Distributions | (0.040) | (0.003) | (0.000)2 | (0.011) | (0.022) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 4.04% | 0.31% | 0.03% | 1.14% | 2.21% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.15% | 0.09% | 0.10% | 0.15% | 0.15% |
Net investment income | 3.99% | 0.33% | 0.02% | 0.96% | 2.20% |
Expense waiver/reimbursement5 | 0.13% | 0.20% | 0.18% | 0.14% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $88,718,697 | $83,546,204 | $69,590,226 | $76,682,858 | $42,873,211 |
1 | Per share number has been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value. |
4 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
5 | 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 | ||||
2023 | 2022 | 2021 | 2020 | ||
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.0432 | 0.003 | 0.0003 | 0.011 | 0.012 |
Net realized gain (loss) | (0.003) | (0.000)3 | — | 0.0003 | (0.000)3 |
Total From Investment Operations | 0.040 | 0.003 | 0.0003 | 0.011 | 0.012 |
Less Distributions: | |||||
Distributions from net investment income | (0.040) | (0.003) | (0.000)3 | (0.011) | (0.012) |
Distributions from net realized gains | — | — | — | (0.000)3 | — |
Total Distributions | (0.040) | (0.003) | (0.000)3 | (0.011) | (0.012) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 4.04% | 0.31% | 0.03% | 1.14% | 1.24% |
Ratios to Average Net Assets: | |||||
Net expenses5 | 0.15% | 0.10% | 0.11% | 0.15% | 0.15%6 |
Net investment income | 4.30% | 0.54% | 0.03% | 0.81% | 2.29%6 |
Expense waiver/reimbursement7 | 0.13% | 0.18% | 0.17% | 0.14% | 0.13%6 |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $8,642,312 | $1,942,655 | $571,121 | $1,089 | $356 |
1 | Reflects operations for the period from January 18, 2019 (commencement of operations) to July 31, 2019. |
2 | Per share number has been calculated using the average shares method. |
3 | Represents less than $0.001. |
4 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
6 | Computed on an annualized basis. |
7 | 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 7/31/2023 | Period Ended 7/31/20221 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 |
Income From Investment Operations: | ||
Net investment income | 0.0412 | 0.003 |
Net realized gain (loss) | (0.001) | (0.000)3 |
Total From Investment Operations | 0.040 | 0.003 |
Less Distributions: | ||
Distributions from net investment income | (0.040) | (0.003) |
Net Asset Value, End of Period | $1.00 | $1.00 |
Total Return4 | 4.04% | 0.29% |
Ratios to Average Net Assets: | ||
Net expenses5 | 0.15% | 0.14%6 |
Net investment income | 4.07% | 0.92%6 |
Expense waiver/reimbursement7 | 0.13% | 0.15%6 |
Supplemental Data: | ||
Net assets, end of period (000 omitted) | $1,781,724 | $496,384 |
1 | Reflects operations for the period from March 30, 2022 (commencement of operations) to July 31, 2022. |
2 | Per share number has been calculated using the average shares method. |
3 | Represents less than $0.001. |
4 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
6 | Computed on an annualized basis. |
7 | 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, 2023
Assets: | |
Investment in repurchase agreements | $94,875,737,900 |
Investment in securities | 45,174,922,460 |
Investment in securities, at amortized cost | 140,050,660,360 |
Cash | 4,918,742,155 |
Income receivable | 398,384,802 |
Receivable for shares sold | 242,931,524 |
Total Assets | 145,610,718,841 |
Liabilities: | |
Payable for investments purchased | 143,000,000 |
Payable for shares redeemed | 193,589,789 |
Income distribution payable | 324,311,710 |
Payable for investment adviser fee (Note 5) | 277,346 |
Payable for administrative fee (Note 5) | 308,649 |
Payable for Directors’/Trustees’ fees (Note 5) | 188 |
Payable for distribution services fee (Note 5) | 899,463 |
Payable for other service fees (Notes 2 and 5) | 4,840,507 |
Accrued expenses (Note 5) | 2,760,295 |
Total Liabilities | 669,987,947 |
Net assets for 144,992,144,180 shares outstanding | $144,940,730,894 |
Net Assets Consist of: | |
Paid-in capital | $144,992,321,790 |
Total distributable earnings (loss) | (51,590,896) |
Total Net Assets | $144,940,730,894 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Select Shares: | |
$181,157,335 ÷ 181,221,512 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Institutional Shares: | |
$28,952,070,973 ÷ 28,962,351,265 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$10,250,481,297 ÷ 10,254,118,939 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Administrative Shares: | |
$9,461,513 ÷ 9,464,873 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$641,701,665 ÷ 641,928,970 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$902,755,200 ÷ 903,075,038 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$3,529,185,507 ÷ 3,530,433,469 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$1,331,183,044 ÷ 1,331,654,681 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Premier Shares: | |
$88,718,697,460 ÷ 88,750,174,366 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$8,642,312,403 ÷ 8,645,364,630 shares outstanding, no par value, unlimited shares authorized | $1.00 |
SDG Shares: | |
$1,781,724,497 ÷ 1,782,356,437 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2023
Investment Income: | |
Interest | $5,860,106,062 |
Expenses: | |
Investment adviser fee (Note 5) | 283,204,796 |
Administrative fee (Note 5) | 110,647,442 |
Custodian fees | 3,973,551 |
Transfer agent fees (Note 2) | 3,635,230 |
Directors’/Trustees’ fees (Note 5) | 759,469 |
Auditing fees | 26,365 |
Legal fees | 11,809 |
Portfolio accounting fees | 283,923 |
Distribution services fee (Note 5) | 9,538,763 |
Other service fees (Notes 2 and 5) | 52,479,145 |
Share registration costs | 1,054,704 |
Printing and postage | 1,146,407 |
Miscellaneous (Note 5) | 585,241 |
TOTAL EXPENSES | 467,346,845 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (183,374,552) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (327,472) |
TOTAL WAIVERS AND REIMBURSEMENTS | (183,702,024) |
Net expenses | 283,644,821 |
Net investment income | 5,576,461,241 |
Net realized loss on investments | (1,284,750) |
Change in net assets resulting from operations | $5,575,176,491 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $5,576,461,241 | $379,295,869 |
Net realized gain (loss) | (1,284,750) | (50,482,982) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 5,575,176,491 | 328,812,887 |
Distributions to Shareholders: | ||
Select Shares | (35,271,850) | (19,758,181) |
Institutional Shares | (1,174,046,622) | (88,014,519) |
Service Shares | (389,623,516) | (22,610,113) |
Administrative Shares | (161,294) | (254) |
Cash II Shares | (19,617,039) | (689,048) |
Cash Series Shares | (21,988,107) | (314,780) |
Capital Shares | (136,929,964) | (8,282,207) |
Trust Shares | (50,205,859) | (3,682,995) |
Premier Shares | (3,450,670,665) | (232,988,258) |
Advisor Shares | (257,752,222) | (4,070,279) |
SDG Shares1 | (40,021,310) | (1,726,104) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (5,576,288,448) | (382,136,738) |
Share Transactions: | ||
Proceeds from sale of shares | 883,504,550,198 | 858,728,766,875 |
Net asset value of shares issued to shareholders in payment of distributions declared | 2,496,154,457 | 160,712,048 |
Cost of shares redeemed | (879,522,640,205) | (849,797,315,713) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 6,478,064,450 | 9,092,163,210 |
Change in net assets | 6,476,952,493 | 9,038,839,359 |
Net Assets: | ||
Beginning of period | 138,463,778,401 | 129,424,939,042 |
End of period | $144,940,730,894 | $138,463,778,401 |
1 | The Fund’s SDG Class commenced operations on March 30, 2022. |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Select Shares | $7,991 | $— |
Institutional Shares | 216,261 | — |
Service Shares | 1,700,213 | — |
Administrative Shares | 45 | (13) |
Cash II Shares | 511,896 | — |
Cash Series Shares | 162,958 | — |
Capital Shares | 25,922 | — |
Trust Shares | 329,655 | — |
Premier Shares | 626,393 | (1,565) |
Advisor Shares | 46,752 | (825) |
SDG Shares | 7,144 | — |
TOTAL | $3,635,230 | $(2,403) |
Other Service Fees Incurred | |
Select Shares | $187,814 |
Institutional Shares | 14,141,662 |
Service Shares | 26,128,418 |
Administrative Shares | 3,417 |
Cash II Shares | 1,469,279 |
Cash Series Shares | 1,625,346 |
Capital Shares | 5,359,388 |
Trust Shares | 3,563,821 |
TOTAL | $52,479,145 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Select Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,168,449,564 | $2,168,449,564 | 13,629,752,471 | $13,629,752,471 |
Shares issued to shareholders in payment of distributions declared | 3,995,559 | 3,995,559 | 441,651 | 441,651 |
Shares redeemed | (7,914,714,488) | (7,914,714,488) | (15,780,397,892) | (15,780,397,892) |
NET CHANGE RESULTING FROM SELECT SHARE TRANSACTIONS | (5,742,269,365) | $(5,742,269,365) | (2,150,203,770) | $(2,150,203,770) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 186,148,262,717 | $186,148,262,717 | 224,829,179,654 | $224,829,179,654 |
Shares issued to shareholders in payment of distributions declared | 420,918,743 | 420,918,743 | 31,988,578 | 31,988,578 |
Shares redeemed | (188,845,973,947) | (188,845,973,947) | (224,797,693,663) | (224,797,693,663) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (2,276,792,487) | $(2,276,792,487) | 63,474,569 | $63,474,569 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 27,836,489,730 | $27,836,489,730 | 27,391,276,505 | $27,391,276,505 |
Shares issued to shareholders in payment of distributions declared | 169,368,568 | 169,368,568 | 9,246,109 | 9,246,109 |
Shares redeemed | (27,838,325,461) | (27,838,325,461) | (30,471,519,424) | (30,471,519,424) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 167,532,837 | $167,532,837 | (3,070,996,810) | $(3,070,996,810) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Administrative Shares: | Shares | Amount | Shares | Amount |
Shares sold | 15,341,826 | $15,341,826 | 860,627 | $860,627 |
Shares issued to shareholders in payment of distributions declared | 68,641 | 68,641 | 169 | 169 |
Shares redeemed | (6,023,799) | (6,023,799) | (1,001,455) | (1,001,455) |
NET CHANGE RESULTING FROM ADMINISTRATIVE SHARE TRANSACTIONS | 9,386,668 | $9,386,668 | (140,659) | $(140,659) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 464,220,612 | $464,220,612 | 384,359,199 | $384,359,199 |
Shares issued to shareholders in payment of distributions declared | 19,293,153 | 19,293,153 | 677,732 | 677,732 |
Shares redeemed | (409,467,416) | (409,467,416) | (442,616,478) | (442,616,478) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | 74,046,349 | $74,046,349 | (57,579,547) | $(57,579,547) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 4,365,518,975 | $4,365,518,975 | 1,250,402,484 | $1,250,402,484 |
Shares issued to shareholders in payment of distributions declared | 21,787,443 | 21,787,443 | 314,098 | 314,098 |
Shares redeemed | (3,792,238,227) | (3,792,238,227) | (1,469,410,905) | (1,469,410,905) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 595,068,191 | $595,068,191 | (218,694,323) | $(218,694,323) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 22,112,699,472 | $22,112,699,472 | 11,576,723,757 | $11,576,723,757 |
Shares issued to shareholders in payment of distributions declared | 103,746,094 | 103,746,094 | 5,965,112 | 5,965,112 |
Shares redeemed | (21,781,934,740) | (21,781,934,740) | (11,531,336,929) | (11,531,336,929) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 434,510,826 | $434,510,826 | 51,351,940 | $51,351,940 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 5,541,475,630 | $5,541,475,630 | 4,116,626,629 | $4,116,626,629 |
Shares issued to shareholders in payment of distributions declared | 30,288,301 | 30,288,301 | 2,947,861 | 2,947,861 |
Shares redeemed | (5,516,600,396) | (5,516,600,396) | (5,501,391,334) | (5,501,391,334) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | 55,163,535 | $55,163,535 | (1,381,816,844) | $(1,381,816,844) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Premier Shares: | Shares | Amount | Shares | Amount |
Shares sold | 579,652,518,806 | $579,652,518,806 | 566,602,630,504 | $566,602,630,504 |
Shares issued to shareholders in payment of distributions declared | 1,475,168,922 | 1,475,168,922 | 103,686,462 | 103,686,462 |
Shares redeemed | (575,954,063,278) | (575,954,063,278) | (552,718,368,752) | (552,718,368,752) |
NET CHANGE RESULTING FROM PREMIER SHARE TRANSACTIONS | 5,173,624,450 | $5,173,624,450 | 13,987,948,214 | $13,987,948,214 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Advisor Shares: | Shares | Amount | Shares | Amount |
Shares sold | 18,594,511,674 | $18,594,511,674 | 2,274,388,161 | $2,274,388,161 |
Shares issued to shareholders in payment of distributions declared | 224,560,850 | 224,560,850 | 3,940,957 | 3,940,957 |
Shares redeemed | (12,117,071,313) | (12,117,071,313) | (906,072,880) | (906,072,880) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | 6,702,001,211 | $6,702,001,211 | 1,372,256,238 | $1,372,256,238 |
Year Ended 7/31/2023 | Period Ended 7/31/20221 | |||
SDG Shares: | Shares | Amount | Shares | Amount |
Shares sold | 36,605,061,192 | $36,605,061,192 | 6,672,566,884 | $6,672,566,884 |
Shares issued to shareholders in payment of distributions declared | 26,958,183 | 26,958,183 | 1,503,319 | 1,503,319 |
Shares redeemed | (35,346,227,140) | (35,346,227,140) | (6,177,506,001) | (6,177,506,001) |
NET CHANGE RESULTING FROM SDG SHARE TRANSACTIONS | 1,285,792,235 | $1,285,792,235 | 496,564,202 | $496,564,202 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 6,478,064,450 | $6,478,064,450 | 9,092,163,210 | $9,092,163,210 |
1 | Reflects operations for the period from March 30, 2022 (commencement of operations) to July 31, 2022. |
2023 | 2022 | |
Ordinary income | $5,576,288,448 | $382,136,738 |
Undistributed ordinary income | $176,836 |
Capital loss carryforwards | $(51,767,732) |
TOTAL | $(51,590,896) |
Short-Term | Long-Term | Total |
$51,767,732 | $— | $51,767,732 |
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 | 0.05% |
Cash II Shares | 0.35% |
Cash Series Shares | 0.60% |
Trust Shares | 0.25% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Administrative Shares | $7,533 | $— |
Cash II Shares | 2,066,579 | — |
Cash Series Shares | 3,900,830 | (325,069) |
Trust Shares | 3,563,821 | — |
TOTAL | $9,538,763 | $(325,069) |
September 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual: | |||
Select Shares | $1,000 | $1,023.80 | $0.85 |
Institutional Shares | $1,000 | $1,023.60 | $1.00 |
Service Shares | $1,000 | $1,022.50 | $2.11 |
Administrative Shares | $1,000 | $1,022.30 | $2.26 |
Cash II Shares | $1,000 | $1,020.40 | $4.21 |
Cash Series Shares | $1,000 | $1,019.70 | $4.91 |
Capital Shares | $1,000 | $1,023.10 | $1.50 |
Trust Shares | $1,000 | $1,021.20 | $3.41 |
Premier Shares | $1,000 | $1,023.90 | $0.75 |
Advisor Shares | $1,000 | $1,023.90 | $0.75 |
SDG Shares | $1,000 | $1,023.90 | $0.75 |
Hypothetical (assuming a 5% return before expenses): | |||
Select Shares | $1,000 | $1,023.95 | $0.85 |
Institutional Shares | $1,000 | $1,023.80 | $1.00 |
Service Shares | $1,000 | $1,022.71 | $2.11 |
Administrative Shares | $1,000 | $1,022.56 | $2.26 |
Cash II Shares | $1,000 | $1,020.63 | $4.21 |
Cash Series Shares | $1,000 | $1,019.93 | $4.91 |
Capital Shares | $1,000 | $1,023.31 | $1.51 |
Trust Shares | $1,000 | $1,021.42 | $3.41 |
Premier Shares | $1,000 | $1,024.05 | $0.75 |
Advisor Shares | $1,000 | $1,024.05 | $0.75 |
SDG Shares | $1,000 | $1,024.05 | $0.75 |
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 | 0.17% |
Institutional Shares | 0.20% |
Service Shares | 0.42% |
Administrative Shares | 0.45% |
Cash II Shares | 0.84% |
Cash Series Shares | 0.98% |
Capital Shares | 0.30% |
Trust Shares | 0.68% |
Premier Shares | 0.15% |
Advisor Shares | 0.15% |
SDG Shares | 0.15% |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held and Previous Position(s) |
J. Christopher Donahue* Birth Date: April 11, 1949 President and Trustee Indefinite Term Began serving: April 1989 | Principal Occupations: Principal Executive Officer and President of certain of the Funds in the Federated Hermes Fund Family; Director or Trustee of the Funds in the Federated Hermes Fund Family; President, Chief Executive Officer and Director, Federated Hermes, Inc.; Chairman and Trustee, Federated Investment Management Company; Trustee, Federated Investment Counseling; Chairman and Director, Federated Global Investment Management Corp.; Chairman and Trustee, Federated Equity Management Company of Pennsylvania; Trustee, Federated Shareholder Services Company; Director, Federated Services Company. Previous Positions: President, Federated Investment Counseling; President and Chief Executive Officer, Federated Investment Management Company, Federated Global Investment Management Corp. and Passport Research, Ltd; Chairman, Passport Research, Ltd. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held and Previous Position(s) |
Thomas R. Donahue* Birth Date: October 20, 1958 Trustee Indefinite Term Began serving: May 2016 | Principal Occupations: Director or Trustee of certain of the funds in the Federated Hermes Fund Family; Chief Financial Officer, Treasurer, Vice President and Assistant Secretary, Federated Hermes, Inc.; Chairman and Trustee, Federated Administrative Services; Chairman and Director, Federated Administrative Services, Inc.; Trustee and Treasurer, Federated Advisory Services Company; Director or Trustee and Treasurer, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., Federated Investment Counseling, and Federated Investment Management Company; Director, MDTA LLC; Director, Executive Vice President and Assistant Secretary, Federated Securities Corp.; Director or Trustee and Chairman, Federated Services Company and Federated Shareholder Services Company; and Director and President, FII Holdings, Inc. Previous Positions: Director, Federated Hermes, Inc.; Assistant Secretary, Federated Investment Management Company, Federated Global Investment Management Company and Passport Research, LTD; Treasurer, Passport Research, LTD; Executive Vice President, Federated Securities Corp.; and Treasurer, FII Holdings, Inc. |
Name Birth Date Positions Held with Trust Date Service Began | Principal Occupation(s) for Past Five Years, Other Directorships Held, Previous Position(s) and Qualifications |
John T. Collins Birth Date: January 24, 1947 Trustee Indefinite Term Began serving: September 2013 | Principal Occupations: Director or Trustee, 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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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 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
CUSIP 31423R104
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 | 66.2% |
U.S. Government Agency Securities | 38.7% |
Other Assets and Liabilities—Net2 | (4.9)% |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 40.3% |
8-30 Days | 30.5% |
31-90 Days | 19.3% |
91-180 Days | 7.9% |
181 Days or more | 6.9% |
Other Assets and Liabilities—Net2 | (4.9)% |
TOTAL | 100% |
Principal Amount | Value | ||
U.S. TREASURIES—66.2% | |||
$50,000,000 | United States Treasury Bill, 3.955%, 10/5/2023 | $49,642,951 | |
9,000,000 | United States Treasury Bill, 5.060%, 8/3/2023 | 8,997,470 | |
212,000,000 | United States Treasury Bill, 5.085%, 8/1/2023 | 212,000,000 | |
100,000,000 | United States Treasury Bill, 5.100%, 9/19/2023 | 99,305,833 | |
175,000,000 | United States Treasury Bill, 5.167%, 8/17/2023 | 174,598,083 | |
250,000,000 | United States Treasury Bill, 5.210%, 8/24/2023 | 249,167,848 | |
300,000,000 | United States Treasury Bill, 5.230%, 9/12/2023 | 298,169,499 | |
150,000,000 | United States Treasury Bill, 5.232%, 10/24/2023 | 148,168,625 | |
400,000,000 | United States Treasury Bill, 5.255%, 8/22/2023 | 398,773,833 | |
200,000,000 | United States Treasury Bill, 5.260%, 11/14/2023 | 196,931,667 | |
142,750,000 | United States Treasury Bill, 5.270%, 10/26/2023 | 140,952,857 | |
118,260,000 | United States Treasury Bill, 5.275%, 8/29/2023 | 117,774,805 | |
300,000,000 | United States Treasury Bill, 5.275%, 9/7/2023 | 298,373,541 | |
100,000,000 | United States Treasury Bill, 5.280%, 11/2/2023 | 98,665,333 | |
100,000,000 | United States Treasury Bill, 5.300%, 11/28/2023 | 98,248,056 | |
519,500,000 | United States Treasury Bills, 5.030%—5.150%, 8/8/2023 | 518,980,948 | |
400,000,000 | United States Treasury Bills, 5.075%—5.210%, 8/15/2023 | 399,204,917 | |
77,000,000 | United States Treasury Bills, 5.110%—5.130%, 8/10/2023 | 76,901,497 | |
150,000,000 | United States Treasury Bills, 5.240%—5.300%, 8/31/2023 | 149,340,000 | |
35,000,000 | 1 | United States Treasury Floating Rate Notes, 5.266% (91-day T-Bill -0.075%), 8/1/2023 | 34,999,999 |
62,000,000 | 1 | United States Treasury Floating Rate Notes, 5.326% (91-day T-Bill -0.015%), 8/1/2023 | 62,002,601 |
132,000,000 | 1 | United States Treasury Floating Rate Notes, 5.376% (91-day T-Bill +0.035%), 8/1/2023 | 132,019,817 |
119,800,000 | 1 | United States Treasury Floating Rate Notes, 5.378% (91-day T-Bill +0.037%), 8/1/2023 | 119,788,318 |
30,000,000 | 1 | United States Treasury Floating Rate Notes, 5.476% (91-day T-Bill +0.125%), 8/1/2023 | 30,000,000 |
36,137,600 | 1 | United States Treasury Floating Rate Notes, 5.481% (91-day T-Bill +0.140%), 8/1/2023 | 36,120,808 |
95,150,000 | 1 | United States Treasury Floating Rate Notes, 5.510% (91-day T-Bill +0.169%), 8/1/2023 | 95,165,133 |
116,940,000 | 1 | United States Treasury Floating Rate Notes, 5.541% (91-day T-Bill +0.200%), 8/1/2023 | 116,966,415 |
TOTAL U.S. TREASURIES | 4,361,260,854 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES—38.7% | |||
$169,000,000 | 2 | Federal Farm Credit System Discount Notes, 4.600%—5.200%, 8/17/2023 - 11/22/2023 | $167,191,783 |
29,900,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.220%—5.460% (SOFR +0.160%), 8/1/2023 - 8/7/2023 | 29,900,000 |
180,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.325% (SOFR +0.025%), 8/1/2023 | 180,001,435 |
11,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.327% (SOFR +0.027%), 8/1/2023 | 10,999,618 |
35,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.340% (SOFR +0.040%), 8/1/2023 | 35,000,747 |
35,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.345% (SOFR +0.045%), 8/1/2023 | 34,999,848 |
13,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.355% (SOFR +0.055%), 8/1/2023 | 13,000,000 |
50,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.360% (SOFR +0.060%), 8/1/2023 | 50,003,389 |
5,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.365% (SOFR +0.065%), 8/1/2023 | 4,999,923 |
9,500,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.375% (SOFR +0.075%), 8/1/2023 | 9,499,707 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.390% (SOFR +0.090%), 8/1/2023 | 25,000,000 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.400% (SOFR +0.100%), 8/1/2023 | 19,997,759 |
5,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.420% (SOFR +0.120%), 8/1/2023 | 5,001,306 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.430% (SOFR +0.130%), 8/1/2023 | 20,000,000 |
12,230,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.435% (SOFR +0.135%), 8/1/2023 | 12,230,421 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.470% (SOFR +0.170%), 8/1/2023 | 10,000,000 |
15,000,000 | Federal Farm Credit System Notes, 4.125%, 10/17/2023 | 14,998,457 | |
116,100,000 | 2 | Federal Home Loan Bank System Discount Notes, 4.820%—5.070%, 8/3/2023 - 9/20/2023 | 115,907,608 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.300% (SOFR +0.000%), 8/1/2023 | 50,000,000 |
150,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.305% (SOFR +0.005%), 8/1/2023 | 150,000,000 |
75,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.315% (SOFR +0.015%), 8/1/2023 | 75,000,000 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.320% (SOFR +0.020%), 8/1/2023 | 50,000,000 |
100,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.325% (SOFR +0.025%), 8/1/2023 | 100,000,000 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES—continued | |||
$605,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.330% (SOFR +0.030%), 8/1/2023 | $605,000,000 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.350% (SOFR +0.050%), 8/1/2023 | 50,000,000 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.355% (SOFR +0.055%), 8/1/2023 | 50,000,000 |
75,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.360% (SOFR +0.060%), 8/1/2023 | 75,000,000 |
10,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.390% (SOFR +0.090%), 8/1/2023 | 10,000,363 |
25,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.460% (SOFR +0.160%), 8/1/2023 | 25,000,000 |
503,200,000 | Federal Home Loan Bank System, 3.510%—5.740%, 9/14/2023 - 8/13/2024 | 503,199,918 | |
44,000,000 | 2 | Tennessee Valley Authority Discount Notes, 5.110%, 8/2/2023 | 43,993,754 |
TOTAL GOVERNMENT AGENCIES | 2,545,926,036 | ||
TOTAL INVESTMENT IN SECURITIES—104.9% (AT AMORTIZED COST)3 | 6,907,186,890 | ||
OTHER ASSETS AND LIABILITIES - NET—(4.9)%4 | (320,905,923) | ||
TOTAL NET ASSETS—100% | $6,586,280,967 |
SOFR | —Secured Overnight Financing Rate |
Year Ended July 31 | 2023 | 2022 | 2021 | 2020 | 2019 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.035 | 0.001 | 0.0001 | 0.008 | 0.018 |
Net realized gain (loss) | (0.000)1 | (0.000)1 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.035 | 0.001 | 0.0001 | 0.008 | 0.018 |
Less Distributions: | |||||
Distributions from net investment income | (0.035) | (0.001) | (0.000)1 | (0.008) | (0.018) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.035) | (0.001) | (0.000)1 | (0.008) | (0.018) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.59% | 0.14% | 0.01% | 0.83% | 1.81% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.53%4 | 0.23% | 0.10% | 0.47%4 | 0.52%4 |
Net investment income | 3.69% | 0.15% | 0.02% | 0.84% | 1.79% |
Expense waiver/reimbursement5 | 0.09% | 0.39% | 0.52% | 0.15% | 0.09% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $293,103 | $192,603 | $141,092 | $154,561 | $182,939 |
Year Ended July 31 | 2023 | 2022 | 2021 | 2020 | 2019 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.039 | 0.002 | 0.0001 | 0.011 | 0.021 |
Net realized gain (loss) | (0.000)1 | (0.000)1 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.039 | 0.002 | 0.0001 | 0.011 | 0.021 |
Less Distributions: | |||||
Distributions from net investment income | (0.039) | (0.002) | (0.000)1 | (0.011) | (0.021) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.039) | (0.002) | (0.000)1 | (0.011) | (0.021) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.93% | 0.23% | 0.01% | 1.10% | 2.13% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.20%4 | 0.12% | 0.10% | 0.20%4 | 0.20%4 |
Net investment income | 3.89% | 0.21% | 0.02% | 0.95% | 2.11% |
Expense waiver/reimbursement5 | 0.09% | 0.17% | 0.19% | 0.09% | 0.09% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $3,568,910 | $3,507,901 | $3,805,176 | $4,366,142 | $3,019,468 |
Year Ended July 31 | 2023 | 2022 | 2021 | 2020 | 2019 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.036 | 0.002 | 0.0001 | 0.009 | 0.019 |
Net realized gain (loss) | (0.000)1 | (0.000)1 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.036 | 0.002 | 0.0001 | 0.009 | 0.019 |
Less Distributions: | |||||
Distributions from net investment income | (0.036) | (0.002) | (0.000)1 | (0.009) | (0.019) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.036) | (0.002) | (0.000)1 | (0.009) | (0.019) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.67% | 0.16% | 0.01% | 0.89% | 1.88% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.45%4 | 0.19% | 0.10% | 0.41%4 | 0.45%4 |
Net investment income | 3.63% | 0.15% | 0.02% | 0.86% | 1.86% |
Expense waiver/reimbursement5 | 0.09% | 0.34% | 0.43% | 0.13% | 0.09% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $2,724,268 | $2,883,277 | $2,825,555 | $2,950,794 | $2,698,641 |
July 31, 2023
Assets: | ||
Investment in securities, at amortized cost and fair value | $6,907,186,890 | |
Cash | 2,156,109 | |
Income receivable | 20,180,289 | |
Receivable for shares sold | 313,703 | |
TOTAL ASSETS | 6,929,836,991 | |
Liabilities: | ||
Payable for investments purchased | $319,588,194 | |
Income distribution payable | 21,456,069 | |
Payable for shares redeemed | 1,527,413 | |
Payable for other service fees (Notes 2 and 5) | 675,877 | |
Payable for investment adviser fee (Note 5) | 19,923 | |
Payable for administrative fee (Note 5) | 14,292 | |
Accrued expenses (Note 5) | 274,256 | |
TOTAL LIABILITIES | 343,556,024 | |
Net assets for 6,586,338,073 shares outstanding | $6,586,280,967 | |
Net Assets Consists of: | ||
Paid-in capital | $6,586,347,448 | |
Total distributable earnings (loss) | (66,481) | |
TOTAL NET ASSETS | $6,586,280,967 | |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | ||
Automated Shares: | ||
$293,102,999 ÷ 293,105,246 shares outstanding, no par value, unlimited shares authorized | $1.00 | |
Institutional Shares: | ||
$3,568,909,882 ÷ 3,568,940,460 shares outstanding, no par value, unlimited shares authorized | $1.00 | |
Service Shares: | ||
$2,724,268,086 ÷ 2,724,292,367 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2023
Investment Income: | |||
Interest | $279,108,955 | ||
Expenses: | |||
Investment adviser fee (Note 5) | $13,637,385 | ||
Administrative fee (Note 5) | 5,329,520 | ||
Custodian fees | 199,581 | ||
Transfer agent fees (Note 2) | 236,348 | ||
Directors’/Trustees’ fees (Note 5) | 37,880 | ||
Auditing fees | 25,159 | ||
Legal fees | 11,617 | ||
Other service fees (Notes 2 and 5) | 7,372,981 | ||
Portfolio accounting fees | 184,068 | ||
Share registration costs | 220,744 | ||
Printing and postage | 44,996 | ||
Miscellaneous (Note 5) | 106,552 | ||
TOTAL EXPENSES | 27,406,831 | ||
Waiver and Reduction: | |||
Waiver of investment adviser fee (Note 5) | $(5,888,549) | ||
Reduction of custodian fees (Note 6) | (74,687) | ||
TOTAL WAIVER AND REDUCTION | (5,963,236) | ||
Net expenses | 21,443,595 | ||
Net investment income | 257,665,360 | ||
Net realized loss on investments | (1,633) | ||
Change in net assets resulting from operations | $257,663,727 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $257,665,360 | $12,437,059 |
Net realized loss | (1,633) | (64,848) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 257,663,727 | 12,372,211 |
Distributions to Shareholders: | ||
Automated Shares | (8,049,851) | (247,878) |
Institutional Shares | (149,930,779) | (8,114,259) |
Service Shares | (99,679,899) | (4,561,767) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (257,660,529) | (12,923,904) |
Share Transactions: | ||
Proceeds from sale of shares | 20,039,046,497 | 15,309,584,999 |
Net asset value of shares issued to shareholders in payment of distributions declared | 52,633,890 | 2,588,694 |
Cost of shares redeemed | (20,089,184,349) | (15,499,663,571) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 2,496,038 | (187,489,878) |
Change in net assets | 2,499,236 | (188,041,571) |
Net Assets: | ||
Beginning of period | 6,583,781,731 | 6,771,823,302 |
End of period | $6,586,280,967 | $6,583,781,731 |
Transfer Agent Fees Incurred | |
Automated Shares | $175,829 |
Institutional Shares | 35,343 |
Service Shares | 25,176 |
TOTAL | $236,348 |
Other Service Fees Incurred | |
Automated Shares | $544,660 |
Service Shares | 6,828,321 |
TOTAL | $7,372,981 |
Year Ended July 31 | 2023 | 2022 | ||
Automated Shares | Shares | Amount | Shares | Amount |
Shares sold | 342,625,836 | $342,625,836 | 265,079,347 | $265,079,347 |
Shares issued to shareholders in payment of distributions declared | 7,758,905 | 7,758,905 | 236,937 | 236,937 |
Shares redeemed | (249,884,432) | (249,884,432) | (213,792,818) | (213,792,818) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | 100,500,309 | $100,500,309 | 51,523,466 | $51,523,466 |
Year Ended July 31 | 2023 | 2022 | ||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 14,281,531,972 | $14,281,531,972 | 10,486,533,291 | $10,486,533,291 |
Shares issued to shareholders in payment of distributions declared | 38,271,187 | 38,271,187 | 2,115,195 | 2,115,195 |
Shares redeemed | (14,258,795,536) | (14,258,795,536) | (10,785,612,159) | (10,785,612,159) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 61,007,623 | $61,007,623 | (296,963,673) | $(296,963,673) |
Year Ended July 31 | 2023 | 2022 | ||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 5,414,888,689 | $5,414,888,689 | 4,557,972,361 | $4,557,972,361 |
Shares issued to shareholders in payment of distributions declared | 6,603,798 | 6,603,798 | 236,562 | 236,562 |
Shares redeemed | (5,580,504,381) | (5,580,504,381) | (4,500,258,594) | (4,500,258,594) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (159,011,894) | $(159,011,894) | 57,950,329 | $57,950,329 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 2,496,038 | $2,496,038 | (187,489,878) | $(187,489,878) |
2023 | 2022 | |
Ordinary income | $257,660,529 | $12,923,904 |
Net unrealized depreciation | $(1,189) |
Capital loss carryforwards | $(65,292) |
TOTAL | $(66,481) |
Short-Term | Long-Term | Total |
$65,292 | $— | $65,292 |
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 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual: | |||
Automated Shares | $1,000 | $1,021.70 | $2.71 |
Institutional Shares | $1,000 | $1,023.40 | $1.00 |
Service Shares | $1,000 | $1,022.20 | $2.26 |
Hypothetical (assuming a 5% return before expenses): | |||
Automated Shares | $1,000 | $1,022.12 | $2.71 |
Institutional Shares | $1,000 | $1,023.80 | $1.00 |
Service Shares | $1,000 | $1,022.56 | $2.26 |
Automated Shares | 0.54% |
Institutional Shares | 0.20% |
Service Shares | 0.45% |
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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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.
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 | 66.2% |
U.S. Government Agency Securities | 38.7% |
Other Assets and Liabilities—Net2 | (4.9)% |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 40.3% |
8-30 Days | 30.5% |
31-90 Days | 19.3% |
91-180 Days | 7.9% |
181 Days or more | 6.9% |
Other Assets and Liabilities—Net2 | (4.9)% |
TOTAL | 100% |
Principal Amount | Value | ||
U.S. TREASURIES—66.2% | |||
$50,000,000 | United States Treasury Bill, 3.955%, 10/5/2023 | $49,642,951 | |
9,000,000 | United States Treasury Bill, 5.060%, 8/3/2023 | 8,997,470 | |
212,000,000 | United States Treasury Bill, 5.085%, 8/1/2023 | 212,000,000 | |
100,000,000 | United States Treasury Bill, 5.100%, 9/19/2023 | 99,305,833 | |
175,000,000 | United States Treasury Bill, 5.167%, 8/17/2023 | 174,598,083 | |
250,000,000 | United States Treasury Bill, 5.210%, 8/24/2023 | 249,167,848 | |
300,000,000 | United States Treasury Bill, 5.230%, 9/12/2023 | 298,169,499 | |
150,000,000 | United States Treasury Bill, 5.232%, 10/24/2023 | 148,168,625 | |
400,000,000 | United States Treasury Bill, 5.255%, 8/22/2023 | 398,773,833 | |
200,000,000 | United States Treasury Bill, 5.260%, 11/14/2023 | 196,931,667 | |
142,750,000 | United States Treasury Bill, 5.270%, 10/26/2023 | 140,952,857 | |
118,260,000 | United States Treasury Bill, 5.275%, 8/29/2023 | 117,774,805 | |
300,000,000 | United States Treasury Bill, 5.275%, 9/7/2023 | 298,373,541 | |
100,000,000 | United States Treasury Bill, 5.280%, 11/2/2023 | 98,665,333 | |
100,000,000 | United States Treasury Bill, 5.300%, 11/28/2023 | 98,248,056 | |
519,500,000 | United States Treasury Bills, 5.030%—5.150%, 8/8/2023 | 518,980,948 | |
400,000,000 | United States Treasury Bills, 5.075%—5.210%, 8/15/2023 | 399,204,917 | |
77,000,000 | United States Treasury Bills, 5.110%—5.130%, 8/10/2023 | 76,901,497 | |
150,000,000 | United States Treasury Bills, 5.240%—5.300%, 8/31/2023 | 149,340,000 | |
35,000,000 | 1 | United States Treasury Floating Rate Notes, 5.266% (91-day T-Bill -0.075%), 8/1/2023 | 34,999,999 |
62,000,000 | 1 | United States Treasury Floating Rate Notes, 5.326% (91-day T-Bill -0.015%), 8/1/2023 | 62,002,601 |
132,000,000 | 1 | United States Treasury Floating Rate Notes, 5.376% (91-day T-Bill +0.035%), 8/1/2023 | 132,019,817 |
119,800,000 | 1 | United States Treasury Floating Rate Notes, 5.378% (91-day T-Bill +0.037%), 8/1/2023 | 119,788,318 |
30,000,000 | 1 | United States Treasury Floating Rate Notes, 5.476% (91-day T-Bill +0.125%), 8/1/2023 | 30,000,000 |
36,137,600 | 1 | United States Treasury Floating Rate Notes, 5.481% (91-day T-Bill +0.140%), 8/1/2023 | 36,120,808 |
95,150,000 | 1 | United States Treasury Floating Rate Notes, 5.510% (91-day T-Bill +0.169%), 8/1/2023 | 95,165,133 |
116,940,000 | 1 | United States Treasury Floating Rate Notes, 5.541% (91-day T-Bill +0.200%), 8/1/2023 | 116,966,415 |
TOTAL U.S. TREASURIES | 4,361,260,854 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES—38.7% | |||
$169,000,000 | 2 | Federal Farm Credit System Discount Notes, 4.600%—5.200%, 8/17/2023 - 11/22/2023 | $167,191,783 |
29,900,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.220%—5.460% (SOFR +0.160%), 8/1/2023 - 8/7/2023 | 29,900,000 |
180,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.325% (SOFR +0.025%), 8/1/2023 | 180,001,435 |
11,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.327% (SOFR +0.027%), 8/1/2023 | 10,999,618 |
35,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.340% (SOFR +0.040%), 8/1/2023 | 35,000,747 |
35,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.345% (SOFR +0.045%), 8/1/2023 | 34,999,848 |
13,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.355% (SOFR +0.055%), 8/1/2023 | 13,000,000 |
50,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.360% (SOFR +0.060%), 8/1/2023 | 50,003,389 |
5,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.365% (SOFR +0.065%), 8/1/2023 | 4,999,923 |
9,500,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.375% (SOFR +0.075%), 8/1/2023 | 9,499,707 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.390% (SOFR +0.090%), 8/1/2023 | 25,000,000 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.400% (SOFR +0.100%), 8/1/2023 | 19,997,759 |
5,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.420% (SOFR +0.120%), 8/1/2023 | 5,001,306 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.430% (SOFR +0.130%), 8/1/2023 | 20,000,000 |
12,230,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.435% (SOFR +0.135%), 8/1/2023 | 12,230,421 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.470% (SOFR +0.170%), 8/1/2023 | 10,000,000 |
15,000,000 | Federal Farm Credit System Notes, 4.125%, 10/17/2023 | 14,998,457 | |
116,100,000 | 2 | Federal Home Loan Bank System Discount Notes, 4.820%—5.070%, 8/3/2023 - 9/20/2023 | 115,907,608 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.300% (SOFR +0.000%), 8/1/2023 | 50,000,000 |
150,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.305% (SOFR +0.005%), 8/1/2023 | 150,000,000 |
75,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.315% (SOFR +0.015%), 8/1/2023 | 75,000,000 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.320% (SOFR +0.020%), 8/1/2023 | 50,000,000 |
100,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.325% (SOFR +0.025%), 8/1/2023 | 100,000,000 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES—continued | |||
$605,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.330% (SOFR +0.030%), 8/1/2023 | $605,000,000 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.350% (SOFR +0.050%), 8/1/2023 | 50,000,000 |
50,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.355% (SOFR +0.055%), 8/1/2023 | 50,000,000 |
75,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.360% (SOFR +0.060%), 8/1/2023 | 75,000,000 |
10,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.390% (SOFR +0.090%), 8/1/2023 | 10,000,363 |
25,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.460% (SOFR +0.160%), 8/1/2023 | 25,000,000 |
503,200,000 | Federal Home Loan Bank System, 3.510%—5.740%, 9/14/2023 - 8/13/2024 | 503,199,918 | |
44,000,000 | 2 | Tennessee Valley Authority Discount Notes, 5.110%, 8/2/2023 | 43,993,754 |
TOTAL GOVERNMENT AGENCIES | 2,545,926,036 | ||
TOTAL INVESTMENT IN SECURITIES—104.9% (AT AMORTIZED COST)3 | 6,907,186,890 | ||
OTHER ASSETS AND LIABILITIES - NET—(4.9)%4 | (320,905,923) | ||
TOTAL NET ASSETS—100% | $6,586,280,967 |
SOFR | —Secured Overnight Financing Rate |
Year Ended July 31 | 2023 | 2022 | 2021 | 2020 | 2019 |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.039 | 0.002 | 0.0001 | 0.011 | 0.021 |
Net realized gain (loss) | (0.000)1 | (0.000)1 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.039 | 0.002 | 0.0001 | 0.011 | 0.021 |
Less Distributions: | |||||
Distributions from net investment income | (0.039) | (0.002) | (0.000)1 | (0.011) | (0.021) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.039) | (0.002) | (0.000)1 | (0.011) | (0.021) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.93% | 0.23% | 0.01% | 1.10% | 2.13% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.20%4 | 0.12% | 0.10% | 0.20%4 | 0.20%4 |
Net investment income | 3.89% | 0.21% | 0.02% | 0.95% | 2.11% |
Expense waiver/reimbursement5 | 0.09% | 0.17% | 0.19% | 0.09% | 0.09% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $3,568,910 | $3,507,901 | $3,805,176 | $4,366,142 | $3,019,468 |
July 31, 2023
Assets: | ||
Investment in securities, at amortized cost and fair value | $6,907,186,890 | |
Cash | 2,156,109 | |
Income receivable | 20,180,289 | |
Receivable for shares sold | 313,703 | |
TOTAL ASSETS | 6,929,836,991 | |
Liabilities: | ||
Payable for investments purchased | $319,588,194 | |
Income distribution payable | 21,456,069 | |
Payable for shares redeemed | 1,527,413 | |
Payable for other service fees (Notes 2 and 5) | 675,877 | |
Payable for investment adviser fee (Note 5) | 19,923 | |
Payable for administrative fee (Note 5) | 14,292 | |
Accrued expenses (Note 5) | 274,256 | |
TOTAL LIABILITIES | 343,556,024 | |
Net assets for 6,586,338,073 shares outstanding | $6,586,280,967 | |
Net Assets Consists of: | ||
Paid-in capital | $6,586,347,448 | |
Total distributable earnings (loss) | (66,481) | |
TOTAL NET ASSETS | $6,586,280,967 | |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | ||
Automated Shares: | ||
$293,102,999 ÷ 293,105,246 shares outstanding, no par value, unlimited shares authorized | $1.00 | |
Institutional Shares: | ||
$3,568,909,882 ÷ 3,568,940,460 shares outstanding, no par value, unlimited shares authorized | $1.00 | |
Service Shares: | ||
$2,724,268,086 ÷ 2,724,292,367 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2023
Investment Income: | |||
Interest | $279,108,955 | ||
Expenses: | |||
Investment adviser fee (Note 5) | $13,637,385 | ||
Administrative fee (Note 5) | 5,329,520 | ||
Custodian fees | 199,581 | ||
Transfer agent fees (Note 2) | 236,348 | ||
Directors’/Trustees’ fees (Note 5) | 37,880 | ||
Auditing fees | 25,159 | ||
Legal fees | 11,617 | ||
Other service fees (Notes 2 and 5) | 7,372,981 | ||
Portfolio accounting fees | 184,068 | ||
Share registration costs | 220,744 | ||
Printing and postage | 44,996 | ||
Miscellaneous (Note 5) | 106,552 | ||
TOTAL EXPENSES | 27,406,831 | ||
Waiver and Reduction: | |||
Waiver of investment adviser fee (Note 5) | $(5,888,549) | ||
Reduction of custodian fees (Note 6) | (74,687) | ||
TOTAL WAIVER AND REDUCTION | (5,963,236) | ||
Net expenses | 21,443,595 | ||
Net investment income | 257,665,360 | ||
Net realized loss on investments | (1,633) | ||
Change in net assets resulting from operations | $257,663,727 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $257,665,360 | $12,437,059 |
Net realized loss | (1,633) | (64,848) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 257,663,727 | 12,372,211 |
Distributions to Shareholders: | ||
Automated Shares | (8,049,851) | (247,878) |
Institutional Shares | (149,930,779) | (8,114,259) |
Service Shares | (99,679,899) | (4,561,767) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (257,660,529) | (12,923,904) |
Share Transactions: | ||
Proceeds from sale of shares | 20,039,046,497 | 15,309,584,999 |
Net asset value of shares issued to shareholders in payment of distributions declared | 52,633,890 | 2,588,694 |
Cost of shares redeemed | (20,089,184,349) | (15,499,663,571) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 2,496,038 | (187,489,878) |
Change in net assets | 2,499,236 | (188,041,571) |
Net Assets: | ||
Beginning of period | 6,583,781,731 | 6,771,823,302 |
End of period | $6,586,280,967 | $6,583,781,731 |
Transfer Agent Fees Incurred | |
Automated Shares | $175,829 |
Institutional Shares | 35,343 |
Service Shares | 25,176 |
TOTAL | $236,348 |
Other Service Fees Incurred | |
Automated Shares | $544,660 |
Service Shares | 6,828,321 |
TOTAL | $7,372,981 |
Year Ended July 31 | 2023 | 2022 | ||
Automated Shares | Shares | Amount | Shares | Amount |
Shares sold | 342,625,836 | $342,625,836 | 265,079,347 | $265,079,347 |
Shares issued to shareholders in payment of distributions declared | 7,758,905 | 7,758,905 | 236,937 | 236,937 |
Shares redeemed | (249,884,432) | (249,884,432) | (213,792,818) | (213,792,818) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | 100,500,309 | $100,500,309 | 51,523,466 | $51,523,466 |
Year Ended July 31 | 2023 | 2022 | ||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 14,281,531,972 | $14,281,531,972 | 10,486,533,291 | $10,486,533,291 |
Shares issued to shareholders in payment of distributions declared | 38,271,187 | 38,271,187 | 2,115,195 | 2,115,195 |
Shares redeemed | (14,258,795,536) | (14,258,795,536) | (10,785,612,159) | (10,785,612,159) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 61,007,623 | $61,007,623 | (296,963,673) | $(296,963,673) |
Year Ended July 31 | 2023 | 2022 | ||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 5,414,888,689 | $5,414,888,689 | 4,557,972,361 | $4,557,972,361 |
Shares issued to shareholders in payment of distributions declared | 6,603,798 | 6,603,798 | 236,562 | 236,562 |
Shares redeemed | (5,580,504,381) | (5,580,504,381) | (4,500,258,594) | (4,500,258,594) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (159,011,894) | $(159,011,894) | 57,950,329 | $57,950,329 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 2,496,038 | $2,496,038 | (187,489,878) | $(187,489,878) |
2023 | 2022 | |
Ordinary income | $257,660,529 | $12,923,904 |
Net unrealized depreciation | $(1,189) |
Capital loss carryforwards | $(65,292) |
TOTAL | $(66,481) |
Short-Term | Long-Term | Total |
$65,292 | $— | $65,292 |
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 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual: | $1,000 | $1,023.40 | $1.00 |
Hypothetical (assuming a 5% return before expenses): | $1,000 | $1,023.80 | $1.00 |
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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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 | 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 |
Variable Rate Instruments | 30.8% |
Bank Instruments | 15.5% |
Commercial Paper | 14.4% |
Other Repurchase Agreements and Repurchase Agreement | 39.4% |
Other Assets and Liabilities—Net2 | (0.1)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 76.0%2 |
8-30 Days | 3.1% |
31-90 Days | 6.4% |
91-180 Days | 8.4% |
181 Days or more | 6.2% |
Other Assets and Liabilities—Net3 | (0.1)% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Overnight securities comprised 31.0% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— 30.8% | ||
Finance - Banking— 25.7% | |||
$ 5,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | $ 4,995,810 | |
4,000,000 | Bank of Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 3,995,889 | |
5,000,000 | Bank of Montreal, 5.750% (SOFR +0.450%), 8/1/2023 | 5,002,255 | |
5,000,000 | Bank of Montreal, 5.900% (SOFR +0.600%), 8/1/2023 | 5,001,316 | |
2,500,000 | Bank of Montreal, 5.980% (SOFR +0.680%), 8/1/2023 | 2,502,973 | |
2,000,000 | Bank of Nova Scotia, Toronto, 5.680% (SOFR +0.380%), 8/1/2023 | 1,999,398 | |
1,500,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 1,500,000 | |
1,500,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 1,501,308 | |
5,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 5,000,000 | |
4,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 4,000,000 | |
3,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 3,003,351 | |
10,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 10,008,176 | |
3,000,000 | Bank of Nova Scotia, Toronto, 5.950% (SOFR +0.650%), 8/1/2023 | 3,000,995 | |
7,500,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.660%), 8/1/2023 | 7,500,000 | |
3,000,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.660%), 8/1/2023 | 3,003,008 | |
5,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.450% (SOFR +0.150%), 8/1/2023 | 5,000,000 | |
2,500,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.620% (SOFR +0.320%), 8/1/2023 | 2,500,000 | |
5,000,000 | BPCE S.A., 5.630% (SOFR +0.330%), 8/1/2023 | 5,000,000 | |
5,000,000 | Canadian Imperial Bank of Commerce, 5.760% (SOFR +0.460%), 8/1/2023 | 5,002,843 | |
4,000,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 4,006,580 | |
7,500,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 7,512,165 | |
4,500,000 | City Furniture, Inc., (Wells Fargo Bank, N.A. LOC), 5.440%, 8/3/2023 | 4,500,000 | |
5,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.760% (SOFR +0.460%), 8/1/2023 | 5,000,261 | |
1,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.520% (SOFR +0.220%), 8/1/2023 | 1,000,000 | |
1,500,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.530% (SOFR +0.230%), 8/1/2023 | 1,500,000 | |
5,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 5,000,027 | |
10,000,000 | ING (U.S.) Funding LLC, 5.460% (SOFR +0.150%), 8/1/2023 | 10,000,000 | |
2,500,000 | Matchpoint Finance PLC, (BNP Paribas S.A. LIQ), 5.610% (SOFR +0.310%), 8/1/2023 | 2,500,067 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 10,000,000 | National Australia Bank Ltd., Melbourne, 5.510% (SOFR +0.210%), 8/1/2023 | $ 9,999,321 | |
5,000,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 4,996,481 | |
5,000,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 4,996,313 | |
2,500,000 | National Australia Bank Ltd., Melbourne, 5.840% (SOFR +0.540%), 8/1/2023 | 2,502,205 | |
2,500,000 | National Australia Bank Ltd., Melbourne, 5.860% (SOFR +0.560%), 8/1/2023 | 2,500,000 | |
5,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 4,994,793 | |
5,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 4,994,673 | |
5,000,000 | Nordea Bank Abp, 5.720% (SOFR +0.420%), 8/1/2023 | 5,000,000 | |
5,000,000 | Ridgefield Funding Co. LLC, Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | 4,999,871 | |
2,500,000 | Royal Bank of Canada, New York Branch, 5.870% (SOFR +0.570%), 8/1/2023 | 2,500,000 | |
5,000,000 | Royal Bank of Canada, New York Branch, 5.880% (SOFR +0.580%), 8/1/2023 | 5,000,000 | |
5,000,000 | Royal Bank of Canada, New York Branch, 5.900% (SOFR +0.600%), 8/1/2023 | 5,002,767 | |
5,000,000 | State Street Bank and Trust Co., 5.460% (SOFR +0.150%), 8/1/2023 | 5,000,000 | |
2,500,000 | Sumitomo Mitsui Banking Corp., 5.680% (SOFR +0.380%), 8/1/2023 | 2,500,000 | |
6,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.610% (SOFR +0.310%), 8/1/2023 | 6,001,046 | |
5,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.680% (SOFR +0.380%), 8/1/2023 | 5,000,000 | |
15,000,000 | Svenska Handelsbanken, Stockholm, 5.460% (SOFR +0.150%), 8/1/2023 | 15,000,000 | |
2,000,000 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 2,000,840 | |
4,000,000 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 4,001,717 | |
7,500,000 | Svenska Handelsbanken, Stockholm, 5.730% (SOFR +0.420%), 8/1/2023 | 7,500,000 | |
5,000,000 | Svenska Handelsbanken, Stockholm, 5.760% (SOFR +0.450%), 8/1/2023 | 5,002,235 | |
6,500,000 | Taxable Tender Option Bond Trust 2021-MIZ9064TX, (Series 2021-MIZ9064TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.720%, 8/3/2023 | 6,500,000 | |
14,223,753 | Taxable Tender Option Bond Trust 2022-MIZ9015TX, (Series 2022-MIZ9015TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.590%, 8/1/2023 | 14,223,753 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 5,150,000 | Taxable Tender Option Bond Trust 2022-MIZ9084TX, (Series 2022-MIZ9084TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.720%, 8/3/2023 | $ 5,150,000 | |
3,200,000 | Taxable Tender Option Bond Trust 2022-MIZ9094TX, (Series 2022-MIZ9094TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.720%, 8/3/2023 | 3,200,000 | |
4,000,000 | Toronto Dominion Bank, 5.810% (SOFR +0.500%), 8/1/2023 | 4,002,420 | |
2,500,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 2,500,000 | |
2,500,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 2,502,246 | |
3,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 8/1/2023 | 3,003,199 | |
7,500,000 | Wells Fargo Bank, N.A., 5.750% (SOFR +0.450%), 8/1/2023 | 7,503,855 | |
5,000,000 | Wells Fargo Bank, N.A., 5.950% (SOFR +0.650%), 8/1/2023 | 5,002,320 | |
5,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 5,000,000 | |
2,500,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 2,500,000 | |
TOTAL | 291,116,477 | ||
Finance - Retail— 1.7% | |||
4,500,000 | Fairway Finance Co. LLC, 5.470% (SOFR +0.170%), 8/1/2023 | 4,500,000 | |
2,500,000 | Old Line Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 2,499,970 | |
10,000,000 | Sheffield Receivables Co. LLC, 5.620% (SOFR +0.320%), 8/1/2023 | 10,000,000 | |
2,500,000 | Thunder Bay Funding, LLC, 5.830% (SOFR +0.520%), 8/1/2023 | 2,500,457 | |
TOTAL | 19,500,427 | ||
Government Agency— 3.4% | |||
8,000,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 8,000,000 | |
30,000,000 | HW Hellman Building, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 30,000,000 | |
TOTAL | 38,000,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $348,573,817) | 348,616,904 | ||
2 | COMMERCIAL PAPER— 14.4% | ||
Finance - Banking— 9.4% | |||
25,000,000 | Anglesea Funding LLC, 5.044% - 5.305%, 8/1/2023 - 8/2/2023 | 24,997,792 | |
2,500,000 | Australia & New Zealand Banking Group, Melbourne, 5.499%, 12/5/2023 | 2,452,393 | |
5,000,000 | Bank of Montreal, 5.497%, 11/16/2023 | 4,918,340 | |
5,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 4,739,890 | |
20,500,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | 19,518,597 | |
12,500,000 | Citigroup Global Markets, Inc., 5.687% - 5.707%, 11/30/2023 - 12/6/2023 | 12,256,911 | |
5,000,000 | Credit Agricole Corporate and Investment Bank, 5.372%, 8/1/2023 | 5,000,000 |
Principal Amount | Value | ||
2 | COMMERCIAL PAPER— continued | ||
Finance - Banking— continued | |||
$ 7,500,000 | DNB Bank ASA, 5.404%, 11/16/2023 | $ 7,378,680 | |
5,000,000 | Royal Bank of Canada, 4.049%, 8/23/2023 | 4,983,025 | |
13,000,000 | Svenska Handelsbanken, Stockholm, 5.494% - 5.593%, 11/21/2023 - 11/28/2023 | 12,774,480 | |
5,000,000 | Toronto Dominion Bank, 5.350%, 2/6/2024 | 4,990,851 | |
3,000,000 | Toronto Dominion Bank, 5.800%, 5/16/2024 | 2,863,917 | |
TOTAL | 106,874,876 | ||
Finance - Retail— 3.0% | |||
22,500,000 | Chariot Funding LLC, 5.261% - 5.548%, 8/14/2023 - 9/26/2023 | 22,379,206 | |
7,500,000 | Old Line Funding, LLC, 5.143%, 11/3/2023 | 7,391,740 | |
2,000,000 | Old Line Funding, LLC, 5.710%, 12/15/2023 | 1,957,309 | |
2,500,000 | Thunder Bay Funding, LLC, 5.404%, 11/17/2023 | 2,458,421 | |
TOTAL | 34,186,676 | ||
Oil & Oil Finance— 0.7% | |||
7,500,000 | TotalEnergies Capital, 5.023% - 5.703%, 8/1/2023 - 11/27/2023 | 7,453,805 | |
Sovereign— 1.3% | |||
10,000,000 | BNG Bank N.V., 5.331%, 8/10/2023 | 9,986,700 | |
5,000,000 | Export Development Canada, (Canada, Government of SUB), 5.203%, 11/9/2023 | 4,924,811 | |
TOTAL | 14,911,511 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $163,491,770) | 163,426,868 | ||
CERTIFICATES OF DEPOSIT— 10.6% | |||
Banking— 0.2% | |||
2,500,000 | Bank of America N.A., 5.830%, 6/17/2024 | 2,496,706 | |
Finance - Banking— 10.4% | |||
2,500,000 | Bank of America N.A., 5.440%, 2/7/2024 | 2,493,181 | |
12,500,000 | Bank of Montreal, 5.470% - 5.820%, 1/8/2024 - 5/28/2024 | 12,479,971 | |
3,000,000 | Bank of Nova Scotia, Toronto, 5.410%, 11/17/2023 | 2,998,344 | |
3,000,000 | BMO Harris Bank, N.A., 5.730%, 12/13/2023 | 3,000,729 | |
13,000,000 | Canadian Imperial Bank of Commerce, 5.250% - 5.800%, 2/5/2024 - 6/13/2024 | 12,976,434 | |
4,500,000 | Credit Agricole Corporate and Investment Bank, 5.390%, 8/2/2023 | 4,500,000 | |
10,000,000 | DNB Bank ASA, 5.450%, 11/22/2023 | 9,996,441 | |
5,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.400%, 11/17/2023 | 4,996,609 | |
15,000,000 | Mizuho Bank Ltd., 5.390% - 5.420%, 8/18/2023 - 9/1/2023 | 15,000,000 | |
8,000,000 | MUFG Bank Ltd., 5.550%, 9/12/2023 | 8,000,000 | |
5,000,000 | Nordea Bank Abp, 5.400%, 11/20/2023 | 4,996,826 | |
17,500,000 | Sumitomo Mitsui Trust Bank Ltd., 5.550%, 9/15/2023 - 9/26/2023 | 17,500,000 | |
5,000,000 | Toronto Dominion Bank, 5.200%, 2/2/2024 | 4,983,421 |
Principal Amount | Value | ||
CERTIFICATES OF DEPOSIT— continued | |||
Finance - Banking— continued | |||
$ 5,000,000 | Toronto Dominion Bank, 5.250%, 1/25/2024 | $ 4,985,462 | |
8,000,000 | Toronto Dominion Bank, 6.050%, 7/10/2024 | 8,005,662 | |
TOTAL | 116,913,080 | ||
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $119,500,000) | 119,409,786 | ||
TIME DEPOSIT— 4.9% | |||
Finance - Banking— 4.9% | |||
55,000,000 | ABN Amro Bank NV, 5.330%, 8/4/2023 (IDENTIFIED COST $55,000,000) | 55,000,000 | |
OTHER REPURCHASE AGREEMENTS— 15.4% | |||
Finance - Banking— 15.4% | |||
10,000,000 | BMO Capital Markets Corp., 5.42%, dated 7/31/2023, interest in a $425,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $425,063,986 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes, treasury notes and U.S. Government Agency securities with a market value of $433,680,962 have been received as collateral and held with BNY Mellon as tri-party agent. | 10,000,000 | |
25,000,000 | BNP Paribas S.A., 5.40%, dated 7/31/2023, interest in a $1,075,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,075,161,250 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes, U.S. Government Agency securities, sovereign debt and treasury notes with a market value of $1,097,015,812 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
10,000,000 | BofA Securities, Inc., 5.35%, dated 7/31/2023, interest in a $125,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $125,018,576 on 8/1/2023, in which commercial paper with a market value of $127,518,948 have been received as collateral and held with BNY Mellon as tri-party agent. | 10,000,000 | |
15,000,000 | BofA Securities, Inc., 5.41%, dated 12/13/2022, interest in a $165,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $165,173,571 on 8/10/2023, in which corporate bonds with a market value of $168,325,895 have been received as collateral and held with BNY Mellon as tri-party agent. | 15,000,000 | |
25,000,000 | BofA Securities, Inc., 5.85%, dated 12/6/2022, interest in a $225,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $226,279,688 on 9/7/2023, in which asset-backed securities and collateralized mortgage obligations with a market value of $229,537,294 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 35,000,000 | Credit Agricole S.A., 5.47%, dated 2/17/2023, interest in a $200,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $200,212,722 on 8/10/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $211,172,145 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 35,000,000 | |
5,000,000 | HSBC Securities (USA), Inc., 5.52%, dated 7/31/2023, interest in a $5,000,000 collateralized loan agreement will repurchase securities provided as collateral for $5,000,767 on 8/1/2023, in which corporate bonds with a market value of $5,100,432 have been received as collateral and held with BNY Mellon as tri-party agent. | 5,000,000 | |
10,000,000 | J.P. Morgan Securities LLC, 5.57%, dated 7/17/2023, interest in a $750,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $753,481,250 on 8/16/2023, in which corporate bonds with a market value of $765,000,001 have been received as collateral and held with BNY Mellon as tri-party agent. | 10,000,000 | |
15,000,000 | Pershing LLC, 5.57%, dated 7/14/2022, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,324,917 on 8/10/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, commercial paper, common stocks, convertible bonds, certificates of deposit, exchange traded funds, medium-term notes, municipal bonds and mutual funds with a market value of $306,048,424 have been received as collateral and held with BNY Mellon as tri-party agent. | 15,000,000 | |
24,000,000 | Societe Generale, Paris, 5.47%, dated 7/31/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,098,764 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,196,426 have been received as collateral and held with BNY Mellon as tri-party agent. | 24,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $174,000,000) | 174,000,000 | ||
REPURCHASE AGREEMENTS— 24.0% | |||
Finance - Banking— 24.0% | |||
15,000,000 | Interest in $900,000,000 joint repurchase agreement 5.50%, dated 7/6/2023 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $900,962,500 on 8/10/2023. 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 2/15/2049 and the market value of those underlying securities was $921,505,810. | 15,000,000 | |
50,000,000 | Interest in $1,650,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Mitsubishi UFJ Securities (USA), Inc. will repurchase securities provided as collateral for $1,650,242,917 on 8/1/2023. 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 7/20/2069 and the market value of those underlying securities was $1,689,159,558. | 50,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$206,833,000 | Interest in $3,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,441,667 on 8/1/2023. 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 10/20/2052 and the market value of those underlying securities was $3,060,450,501. | $ 206,833,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $271,833,000) | 271,833,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.1% (IDENTIFIED COST $1,132,398,587)3 | 1,132,286,558 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.1)%4 | (1,195,182) | ||
TOTAL NET ASSETS—100% | $1,131,091,376 |
1 | Floating/variable note with current rate and current maturity or next reset date shown. |
2 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
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 | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
SOFR | —Secured Overnight Financing Rate | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9992 | $0.9998 | $1.0000 | $0.9998 | $0.9997 |
Income From Investment Operations: | |||||
Net investment income | 0.04171 | 0.0036 | 0.0006 | 0.0141 | 0.0238 |
Net realized and unrealized gain (loss) | 0.0003 | (0.0006) | (0.0002) | 0.0002 | 0.0001 |
Total From Investment Operations | 0.0420 | 0.0030 | 0.0004 | 0.0143 | 0.0239 |
Less Distributions: | |||||
Distributions from net investment income | (0.0416) | (0.0036) | (0.0006) | (0.0141) | (0.0238) |
Distributions from net realized gain | (0.0000)2 | (0.0000)2 | (0.0000)2 | (0.0000)2 | (0.0000)2 |
Total Distributions | (0.0416) | (0.0036) | (0.0006) | (0.0141) | (0.0238) |
Net Asset Value, End of Period | $0.9996 | $0.9992 | $0.9998 | $1.0000 | $0.9998 |
Total Return3 | 4.29% | 0.30% | 0.04% | 1.44% | 2.42% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.15% | 0.15% | 0.15% | 0.15% | 0.15% |
Net investment income | 4.18% | 0.37% | 0.07% | 1.20% | 2.39% |
Expense waiver/reimbursement5 | 0.17% | 0.18% | 0.17% | 0.21% | 1.02% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,126,442 | $1,085,231 | $1,033,664 | $1,353,697 | $66,410 |
1 | Per share numbers have been calculated using the average shares method. |
2 | Represents less than $0.0001. |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9991 | $0.9998 | $0.9999 | $0.9997 | $0.9997 |
Income From Investment Operations: | |||||
Net investment income | 0.02821 | 0.0027 | 0.0001 | 0.0115 | 0.0213 |
Net realized and unrealized gain (loss) | 0.0116 | (0.0008) | (0.0001) | 0.0003 | 0.00002 |
Total From Investment Operations | 0.0398 | 0.0019 | 0.00002 | 0.0118 | 0.0213 |
Less Distributions: | |||||
Distributions from net investment income | (0.0392) | (0.0026) | (0.0001) | (0.0116) | (0.0213) |
Distributions from net realized gain | (0.0000)2 | (0.0000)2 | (0.0000)2 | (0.0000)2 | (0.0000)2 |
Total Distributions | (0.0392) | (0.0026) | (0.0001) | (0.0116) | (0.0213) |
Net Asset Value, End of Period | $0.9997 | $0.9991 | $0.9998 | $0.9999 | $0.9997 |
Total Return3 | 4.05% | 0.19% | 0.00%4 | 1.18% | 2.15% |
Ratios to Average Net Assets: | |||||
Net expenses5 | 0.40% | 0.22% | 0.20% | 0.40% | 0.40% |
Net investment income | 2.83% | 0.17% | 0.01% | 0.98% | 2.16% |
Expense waiver/reimbursement6 | 0.17% | 0.36% | 0.38% | 0.27% | 1.02% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $20 | $420 | $1,138 | $781 | $560 |
1 | Per share numbers have been calculated using the average shares method. |
2 | Represents less than $0.0001. |
3 | Based on net asset value. |
4 | Represents less than 0.01%. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9992 | $0.9998 | $1.0000 | $0.9998 | $0.9997 |
Income From Investment Operations: | |||||
Net investment income | 0.04081 | 0.0031 | 0.0002 | 0.0131 | 0.0228 |
Net realized and unrealized gain (loss) | 0.0003 | (0.0006) | (0.0002) | 0.0002 | 0.0001 |
Total From Investment Operations | 0.0411 | 0.0025 | 0.00002 | 0.0133 | 0.0229 |
Less Distributions: | |||||
Distributions from net investment income | (0.0407) | (0.0031) | (0.0002) | (0.0131) | (0.0228) |
Distributions from net realized gain | (0.0000)2 | (0.0000)2 | (0.0000)2 | (0.0000)2 | (0.0000)2 |
Total Distributions | (0.0407) | (0.0031) | (0.0002) | (0.0131) | (0.0228) |
Net Asset Value, End of Period | $0.9996 | $0.9992 | $0.9998 | $1.0000 | $0.9998 |
Total Return3 | 4.19% | 0.26% | 0.00%4 | 1.33% | 2.32% |
Ratios to Average Net Assets: | |||||
Net expenses5 | 0.25% | 0.19% | 0.20% | 0.25% | 0.25% |
Net investment income | 4.08% | 0.31% | 0.02% | 1.31% | 2.28% |
Expense waiver/reimbursement6 | 0.17% | 0.24% | 0.23% | 0.28% | 1.04% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $186 | $179 | $178 | $181 | $178 |
1 | Per share numbers have been calculated using the average shares method. |
2 | Represents less than $0.0001. |
3 | Based on net asset value. |
4 | Represents less than 0.01%. |
5 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9992 | $0.9998 | $1.0000 | $0.9998 | $0.9997 |
Income From Investment Operations: | |||||
Net investment income | 0.03921 | 0.0026 | 0.0001 | 0.0122 | 0.0218 |
Net realized and unrealized gain (loss) | 0.0003 | (0.0006) | (0.0002) | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0395 | 0.0020 | (0.0001) | 0.0123 | 0.0219 |
Less Distributions: | |||||
Distributions from net investment income | (0.0391) | (0.0026) | (0.0001) | (0.0121) | (0.0218) |
Distributions from net realized gain | (0.0000)2 | (0.0000)2 | (0.0000)2 | (0.0000)2 | (0.0000)2 |
Total Distributions | (0.0391) | (0.0026) | (0.0001) | (0.0121) | (0.0218) |
Net Asset Value, End of Period | $0.9996 | $0.9992 | $0.9998 | $1.0000 | $0.9998 |
Total Return3 | 4.03% | 0.20% | (0.01)% | 1.23% | 2.21% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.40% | 0.24% | 0.20% | 0.35% | 0.35% |
Net investment income | 3.92% | 0.24% | 0.01% | 1.21% | 2.18% |
Expense waiver/reimbursement5 | 0.17% | 0.33% | 0.37% | 0.29% | 1.04% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $4,443 | $4,550 | $4,781 | $4,918 | $5,216 |
1 | Per share numbers have been calculated using the average shares method. |
2 | Represents less than $0.0001. |
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. |
July 31, 2023
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $445,833,000 |
Investment in securities | 686,453,558 |
Investment in securities, at value (identified cost $1,132,398,587) | 1,132,286,558 |
Income receivable | 3,493,999 |
Receivable for shares sold | 100 |
Total Assets | 1,135,780,657 |
Liabilities: | |
Payable for shares redeemed | 3,024 |
Payable to bank | 14,876 |
Income distribution payable | 4,559,985 |
Payable for investment adviser fee (Note 5) | 676 |
Payable for administrative fee (Note 5) | 2,413 |
Accrued expenses (Note 5) | 108,307 |
Total Liabilities | 4,689,281 |
Net assets for 1,131,535,479 shares outstanding | $1,131,091,376 |
Net Assets Consist of: | |
Paid-in capital | $1,131,202,700 |
Total distributable earnings (loss) | (111,324) |
Total Net Assets | $1,131,091,376 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share | |
Institutional Shares: | |
$1,126,442,006 ÷ 1,126,884,407 shares outstanding, no par value, unlimited shares authorized | $0.9996 |
Service Shares: | |
$20,359 ÷ 20,365 shares outstanding, no par value, unlimited shares authorized | $0.9997 |
Capital Shares: | |
$186,153 ÷ 186,227 shares outstanding, no par value, unlimited shares authorized | $0.9996 |
Eagle Shares: | |
$4,442,858 ÷ 4,444,480 shares outstanding, no par value, unlimited shares authorized | $0.9996 |
Year Ended July 31, 2023
Investment Income: | |
Interest | $47,747,811 |
Expenses: | |
Investment adviser fee (Note 5) | 2,205,273 |
Administrative fee (Note 5) | 863,005 |
Custodian fees | 55,931 |
Transfer agent fees | 26,416 |
Directors’/Trustees’ fees (Note 5) | 6,469 |
Auditing fees | 22,791 |
Legal fees | 11,617 |
Portfolio accounting fees | 184,607 |
Other service fees (Notes 2 and 5) | 11,253 |
Share registration costs | 136,449 |
Printing and postage | 21,656 |
Miscellaneous (Note 5) | 52,523 |
TOTAL EXPENSES | 3,597,990 |
Waiver of investment adviser fee (Note 5) | (1,878,754) |
Net expenses | 1,719,236 |
Net investment income | 46,028,575 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments | 803 |
Net change in unrealized depreciation of investments | 475,661 |
Net realized and unrealized gain (loss) on investments | 476,464 |
Change in net assets resulting from operations | $46,505,039 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $46,028,575 | $3,952,061 |
Net realized gain (loss) | 803 | 2,780 |
Net change in unrealized appreciation/depreciation | 475,661 | (674,073) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 46,505,039 | 3,280,768 |
Distributions to Shareholders: | ||
Institutional Shares | (45,854,090) | (3,938,343) |
Service Shares | (4,436) | (1,396) |
Capital Shares | (7,406) | (562) |
Eagle Shares | (168,043) | (11,262) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (46,033,975) | (3,951,563) |
Share Transactions: | ||
Proceeds from sale of shares | 483,903,208 | 272,244,134 |
Net asset value of shares issued to shareholders in payment of distributions declared | 2,789,519 | 148,948 |
Cost of shares redeemed | (446,452,358) | (221,103,337) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 40,240,369 | 51,289,745 |
Change in net assets | 40,711,433 | 50,618,950 |
Net Assets: | ||
Beginning of period | 1,090,379,943 | 1,039,760,993 |
End of period | $1,131,091,376 | $1,090,379,943 |
Other Service Fees Incurred | |
Service Shares | $393 |
Capital Shares | 182 |
Eagle Shares | 10,678 |
TOTAL | $11,253 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 480,219,173 | $479,967,618 | 263,484,507 | $263,336,933 |
Shares issued to shareholders in payment of distributions declared | 2,618,341 | 2,617,076 | 137,289 | 137,190 |
Shares redeemed | (442,067,101) | (441,842,879) | (211,358,360) | (211,239,946) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 40,770,413 | $40,741,815 | 52,263,436 | $52,234,177 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 3,021,333 | $3,019,046 | 8,119,057 | $8,114,658 |
Shares issued to shareholders in payment of distributions declared | 783 | 782 | 52 | 52 |
Shares redeemed | (3,422,296) | (3,419,689) | (8,836,748) | (8,831,908) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (400,180) | $(399,861) | (717,639) | $(717,198) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | — | $— |
Shares issued to shareholders in payment of distributions declared | 7,406 | 7,402 | 562 | 562 |
Shares redeemed | — | — | — | — |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 7,406 | $7,402 | 562 | $562 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Eagle Shares: | Shares | Amount | Shares | Amount |
Shares sold | 917,020 | $916,544 | 792,916 | $792,543 |
Shares issued to shareholders in payment of distributions declared | 164,337 | 164,259 | 11,152 | 11,144 |
Shares redeemed | (1,190,497) | (1,189,790) | (1,032,026) | (1,031,483) |
NET CHANGE RESULTING FROM EAGLE SHARE TRANSACTIONS | (109,140) | $(108,987) | (227,958) | $(227,796) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 40,268,499 | $40,240,369 | 51,318,401 | $51,289,745 |
2023 | 2022 | |
Ordinary income1 | $46,033,975 | $3,951,563 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed ordinary income1 | $705 |
Net unrealized depreciation | $(112,029) |
TOTAL | $(111,324) |
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 |
September 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,024.80 | $0.75 |
Service Shares | $1,000 | $1,023.70 | $2.01 |
Capital Shares | $1,000 | $1,024.30 | $1.25 |
Eagle Shares | $1,000 | $1,023.50 | $2.01 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,024.05 | $0.75 |
Service Shares | $1,000 | $1,022.81 | $2.01 |
Capital Shares | $1,000 | $1,023.55 | $1.25 |
Eagle Shares | $1,000 | $1,022.81 | $2.01 |
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 | 0.40% |
Capital Shares | 0.25% |
Eagle Shares | 0.40% |
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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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.
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
Security Type | Percentage of Total Net Assets |
Bank Instruments | 30.2% |
Other Repurchase Agreements and Repurchase Agreements | 28.4% |
Variable Rate Instruments | 24.1% |
Commercial Paper | 13.1% |
Cash Equivalent2 | 2.9% |
Other Assets and Liabilities—Net3 | 1.3% |
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 | 75.7% |
8-30 Days | 3.7% |
31-90 Days | 5.9% |
91-180 Days | 7.1% |
181 Days or more | 6.3% |
Other Assets and Liabilities—Net3 | 1.3% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Overnight securities comprised 33.09% 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 | NOTES - VARIABLE— 24.1% | ||
Finance - Banking— 22.5% | |||
$ 145,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | $ 145,000,000 | |
275,000,000 | Bank of America N.A., 5.650% (SOFR +0.350%), 8/1/2023 | 275,000,000 | |
250,000,000 | Bank of America N.A., 5.740% (SOFR +0.440%), 8/1/2023 | 250,000,000 | |
175,000,000 | 2 | Bank of Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 175,000,000 |
175,000,000 | Bank of Montreal, 5.750% (SOFR +0.450%), 8/1/2023 | 175,000,000 | |
250,000,000 | Bank of Montreal, 5.900% (SOFR +0.600%), 8/1/2023 | 250,000,000 | |
165,000,000 | Bank of Montreal, 5.900% (SOFR +0.600%), 8/1/2023 | 165,000,000 | |
52,500,000 | Bank of Montreal, 5.980% (SOFR +0.680%), 8/1/2023 | 52,500,000 | |
75,000,000 | Bank of Nova Scotia, Toronto, 5.610% (SOFR +0.310%), 8/1/2023 | 75,000,000 | |
175,000,000 | Bank of Nova Scotia, Toronto, 5.680% (SOFR +0.380%), 8/1/2023 | 175,000,000 | |
90,000,000 | Bank of Nova Scotia, Toronto, 5.710% (SOFR +0.410%), 8/1/2023 | 89,999,922 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.740% (SOFR +0.440%), 8/1/2023 | 50,000,000 | |
92,000,000 | Bank of Nova Scotia, Toronto, 5.820% (SOFR +0.520%), 8/1/2023 | 92,023,632 | |
40,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 40,000,000 | |
65,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 65,000,000 | |
55,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 55,000,000 | |
150,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 150,000,000 | |
55,000,000 | Bank of Nova Scotia, Toronto, 5.870% (SOFR +0.570%), 8/1/2023 | 54,999,985 | |
46,500,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 46,499,967 | |
70,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 70,000,000 | |
86,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 86,000,000 | |
150,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 150,000,000 |
135,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 135,000,000 | |
147,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.950% (SOFR +0.650%), 8/1/2023 | 147,000,000 |
142,500,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.660%), 8/1/2023 | 142,500,000 | |
197,000,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.660%), 8/1/2023 | 197,000,000 | |
65,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.450% (SOFR +0.150%), 8/1/2023 | 65,000,000 | |
67,500,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.620% (SOFR +0.320%), 8/1/2023 | 67,500,000 | |
174,500,000 | BPCE S.A., 5.630% (SOFR +0.330%), 8/1/2023 | 174,500,000 | |
225,000,000 | 2 | Canadian Imperial Bank of Commerce, 5.760% (SOFR +0.460%), 8/1/2023 | 225,000,000 |
317,500,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 317,500,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 121,000,000 | 2 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | $ 121,000,000 |
60,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.760% (SOFR +0.460%), 8/1/2023 | 60,000,000 | |
119,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.520% (SOFR +0.220%), 8/1/2023 | 119,000,000 | |
100,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.530% (SOFR +0.230%), 8/1/2023 | 100,000,000 | |
75,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 75,000,000 | |
100,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 100,000,000 | |
490,000 | Gadsden, AL Airport Authority, Series 2004, (Wells Fargo Bank, N.A. LOC), 5.310%, 8/3/2023 | 490,000 | |
130,000,000 | ING (U.S.) Funding LLC, 5.460% (SOFR +0.150%), 8/1/2023 | 130,000,000 | |
70,000,000 | Matchpoint Finance PLC, (BNP Paribas S.A. LIQ), 5.610% (SOFR +0.310%), 8/1/2023 | 70,001,863 | |
90,000,000 | 2 | Mizuho Bank Ltd., 5.690% (SOFR +0.380%), 8/1/2023 | 90,000,000 |
140,000,000 | National Australia Bank Ltd., Melbourne, 5.510% (SOFR +0.210%), 8/1/2023 | 140,000,000 | |
177,500,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 177,500,000 | |
175,000,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 175,000,000 | |
200,000,000 | National Australia Bank Ltd., Melbourne, 5.750% (SOFR +0.450%), 8/1/2023 | 200,000,000 | |
125,000,000 | National Australia Bank Ltd., Melbourne, 5.840% (SOFR +0.540%), 8/1/2023 | 125,000,000 | |
300,000,000 | National Australia Bank Ltd., Melbourne, 5.860% (SOFR +0.560%), 8/1/2023 | 300,000,000 | |
220,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 220,000,000 | |
225,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 225,000,000 | |
500,000,000 | National Bank of Canada, Montreal, 5.620% (SOFR +0.320%), 8/1/2023 | 500,000,000 | |
370,000,000 | 2 | Nordea Bank Abp, 5.720% (SOFR +0.420%), 8/1/2023 | 370,000,000 |
19,670,000 | Osprey Properties Ltd. Partnership, LLLP & Nighthawk Properties, LLC, Series 2008, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 19,670,000 | |
29,435,000 | Panel Rey S.A., Series 2016, (Citibank N.A., New York LOC), 5.480%, 8/3/2023 | 29,435,000 | |
150,000,000 | Ridgefield Funding Co. LLC Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | 150,000,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 170,000,000 | Ridgefield Funding Co. LLC Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | $ 170,000,000 | |
112,500,000 | Royal Bank of Canada, New York Branch, 5.870% (SOFR +0.570%), 8/1/2023 | 112,500,000 | |
175,000,000 | Royal Bank of Canada, New York Branch, 5.900% (SOFR +0.600%), 8/1/2023 | 175,000,000 | |
375,000,000 | 2 | State Street Bank and Trust Co., 5.460% (SOFR +0.150%), 8/1/2023 | 375,000,000 |
35,000,000 | 2 | Sumitomo Mitsui Banking Corp., 5.680% (SOFR +0.380%), 8/1/2023 | 35,000,000 |
300,000,000 | 2 | Sumitomo Mitsui Trust Bank Ltd., 5.590% (SOFR +0.290%), 8/1/2023 | 300,000,000 |
254,000,000 | 2 | Sumitomo Mitsui Trust Bank Ltd., 5.610% (SOFR +0.310%), 8/1/2023 | 254,000,000 |
120,000,000 | 2 | Sumitomo Mitsui Trust Bank Ltd., 5.680% (SOFR +0.380%), 8/1/2023 | 120,000,000 |
360,000,000 | Svenska Handelsbanken, Stockholm, 5.460% (SOFR +0.150%), 8/1/2023 | 360,000,000 | |
43,000,000 | 2 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 43,000,000 |
171,000,000 | 2 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 171,000,000 |
382,500,000 | Svenska Handelsbanken, Stockholm, 5.730% (SOFR +0.420%), 8/1/2023 | 382,500,000 | |
180,000,000 | Svenska Handelsbanken, Stockholm, 5.760% (SOFR +0.450%), 8/1/2023 | 180,000,000 | |
130,907,193 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 5.720%, 8/1/2023 | 130,907,193 | |
420,500,000 | Toronto Dominion Bank, 5.810% (SOFR +0.500%), 8/1/2023 | 420,500,000 | |
130,000,000 | 2 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 130,000,000 |
170,000,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 170,000,000 | |
172,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 8/1/2023 | 172,000,000 | |
195,000,000 | 2 | Wells Fargo Bank, N.A., 5.750% (SOFR +0.450%), 8/1/2023 | 195,000,000 |
115,000,000 | 2 | Wells Fargo Bank, N.A., 5.950% (SOFR +0.650%), 8/1/2023 | 115,000,000 |
25,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 24,999,999 | |
200,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 200,000,000 | |
TOTAL | 11,891,527,561 | ||
Finance - Retail— 0.8% | |||
70,000,000 | Fairway Finance Co. LLC, 5.470% (SOFR +0.170%), 8/1/2023 | 70,000,000 | |
70,000,000 | Old Line Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 70,000,000 | |
50,000,000 | Old Line Funding, LLC, 5.650% (SOFR +0.340%), 8/1/2023 | 50,000,000 | |
15,000,000 | Old Line Funding, LLC, 5.710% (SOFR +0.400%), 8/1/2023 | 15,000,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Retail— continued | |||
$ 75,000,000 | Sheffield Receivables Co. LLC, 5.620% (SOFR +0.320%), 8/1/2023 | $ 75,000,000 | |
40,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 40,000,000 | |
25,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 25,000,000 | |
67,500,000 | Thunder Bay Funding, LLC, 5.830% (SOFR +0.520%), 8/1/2023 | 67,500,000 | |
TOTAL | 412,500,000 | ||
Government Agency— 0.8% | |||
15,000,000 | 12th & Yesler Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 15,000,000 | |
10,365,000 | 1320 W Jefferson LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 10,365,000 | |
4,925,000 | Andrew Long Irrevocable Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 4,925,000 | |
7,550,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | �� 7,550,000 | |
1,995,000 | BWF Forge TL Properties Owner LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 1,995,000 | |
4,900,000 | Carmel Valley Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 4,900,000 | |
1,555,000 | CMR LLC, CMR LLC Project Series 2017, (Federal Home Loan Bank of Indianapolis LOC), 5.550%, 8/3/2023 | 1,555,000 | |
5,415,000 | Copper Top, LLC, Series 2023, (Federal Home Loan Bank of Topeka LOC), 5.400%, 8/3/2023 | 5,415,000 | |
2,850,000 | CP Canyons WFH, LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 2,850,000 | |
5,035,000 | Dennis Wesley Co., Inc., The Dennis Wesley Co., Inc. Project, (Federal Home Loan Bank of Indianapolis LOC), 5.400%, 8/3/2023 | 5,035,000 | |
10,100,000 | Encinitas Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 10,100,000 | |
6,130,000 | Frank Dale Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 6,130,000 | |
11,100,000 | Ivy Row at South, LLC, (Federal Home Loan Bank of Atlanta LOC), 5.540%, 8/3/2023 | 11,100,000 | |
13,645,000 | Ivy Row at Southern Miss, LLC, (Federal Home Loan Bank of Atlanta LOC), 5.540%, 8/3/2023 | 13,645,000 | |
5,260,000 | JCW 2022 Heritage Trust dated December 13, 2022, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 5,260,000 | |
5,985,000 | JWM Family Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 5,985,000 | |
6,000,000 | Lavonia O. Frick Family Trust, (Federal Home Loan Bank of Atlanta LOC), 5.400%, 8/3/2023 | 6,000,000 | |
6,740,000 | Mason Harrison Ratliff Enterprises, LLC, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 6,740,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 30,200,000 | Mike P. Sturdivant, Sr. Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | $ 30,200,000 | |
5,875,000 | NWD 2017 Family Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 5,875,000 | |
35,960,000 | Park Stanton Place LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 35,960,000 | |
5,760,000 | Phenix City, AL Downtown Redevelopment Authority, Series 2013-A, (Federal Home Loan Bank of New York LOC), 5.400%, 8/3/2023 | 5,760,000 | |
21,000,000 | Pittsburg Fox Creek Associates, LP, Series 2011-A, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 21,000,000 | |
16,270,000 | Plaza Fitzsimons Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 16,270,000 | |
5,025,000 | Public Finance Authority, Series 2015-A Ram Eufaula Hospitality, LLC, (Federal Home Loan Bank of New York LOC), 5.200%, 8/3/2023 | 5,025,000 | |
6,000,000 | Riverview Project, Series 2021, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,000,000 | |
7,020,000 | Robert Kinsala 2009 Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 7,020,000 | |
24,900,000 | Rohnert Park 668, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 24,900,000 | |
7,600,000 | Sandy Jacobs Irrevocable Insurance Trust, Series 2019, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 7,600,000 | |
22,065,000 | Sendra Family Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 22,065,000 | |
11,260,000 | Shawn R. Trapuzzano Irrevocable Insurance Trust, (Federal Home Loan Bank of Pittsburgh LOC), 5.400%, 8/3/2023 | 11,260,000 | |
4,860,000 | Spingola Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 4,860,000 | |
8,825,000 | Susan D. Travers Heritage Trust, Series 2023, (Federal Home Loan Bank of Topeka LOC), 5.540%, 8/3/2023 | 8,825,000 | |
2,560,000 | The J.G. Aguirre Master Trust, (Federal Home Loan Bank of Atlanta LOC), 5.400%, 8/3/2023 | 2,560,000 | |
23,765,000 | The Jacob Rosenstein Irrevocable Life Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 23,765,000 | |
4,150,000 | The Mary Jane Beauregard Irrevocable Insurance Trust of 2017, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 4,150,000 | |
4,710,000 | The Mulberry Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 4,710,000 | |
20,330,000 | The Murray D. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/2/2023 | 20,330,000 | |
20,945,000 | The Ray L. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/2/2023 | 20,945,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 16,400,000 | Wingo Family Master Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | $ 16,400,000 | |
TOTAL | 430,030,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $12,734,057,561) | 12,734,057,561 | ||
CERTIFICATES OF DEPOSIT— 15.1% | |||
Finance - Banking— 15.1% | |||
109,000,000 | Bank of America N.A., 5.440%, 2/7/2024 | 109,000,000 | |
1,287,000,000 | Bank of America N.A., 5.600% - 5.830%, 10/26/2023 - 6/17/2024 | 1,287,000,000 | |
172,500,000 | Bank of Montreal, 5.470% - 5.820%, 1/8/2024 - 5/28/2024 | 172,500,000 | |
127,000,000 | Bank of Nova Scotia, Toronto, 5.410%, 11/17/2023 | 127,000,000 | |
127,000,000 | BMO Harris Bank, N.A., 5.730%, 12/13/2023 | 127,000,000 | |
607,000,000 | Canadian Imperial Bank of Commerce, 5.250% - 5.800%, 11/20/2023 - 6/13/2024 | 607,000,000 | |
885,000,000 | Credit Agricole Corporate and Investment Bank, 5.250% - 5.390%, 8/1/2023 - 8/7/2023 | 885,000,000 | |
500,000,000 | DNB Bank ASA, 5.450%, 11/22/2023 | 500,000,000 | |
100,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.400%, 11/17/2023 | 100,000,000 | |
1,428,000,000 | Mizuho Bank Ltd., 5.380% - 5.420%, 8/15/2023 - 9/1/2023 | 1,428,000,000 | |
219,000,000 | MUFG Bank Ltd., 5.550%, 9/12/2023 | 219,000,000 | |
400,000,000 | Nordea Bank Abp, 5.400%, 11/20/2023 | 400,000,000 | |
1,206,500,000 | Sumitomo Mitsui Trust Bank Ltd., 5.240% - 5.550%, 8/1/2023 - 9/26/2023 | 1,206,500,000 | |
150,000,000 | Toronto Dominion Bank, 5.200%, 2/2/2024 | 150,000,000 | |
175,000,000 | Toronto Dominion Bank, 5.250%, 1/25/2024 | 175,000,000 | |
450,000,000 | Toronto Dominion Bank, 5.440% - 6.050%, 2/13/2024 - 7/10/2024 | 450,000,000 | |
40,000,000 | Wells Fargo Bank International, 5.420%, 9/11/2023 | 39,759,815 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $7,982,759,815) | 7,982,759,815 | ||
TIME DEPOSITS— 15.1% | |||
Finance - Banking— 10.4% | |||
2,620,000,000 | ABN Amro Bank NV, 5.260% - 5.330%, 8/1/2023 - 8/7/2023 | 2,620,000,000 | |
1,850,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.250% - 5.280%, 8/1/2023 - 8/2/2023 | 1,850,000,000 | |
200,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.320%, 8/1/2023 | 200,000,000 | |
150,000,000 | Cooperatieve Rabobank UA, 5.300%, 8/1/2023 | 150,000,000 | |
200,000,000 | Mizuho Bank Ltd., 5.320%, 8/1/2023 | 200,000,000 | |
300,000,000 | Mizuho Bank Ltd., 5.330%, 8/1/2023 | 300,000,000 |
Principal Amount or Shares | Value | ||
TIME DEPOSITS— continued | |||
Finance - Banking— continued | |||
$ 150,000,000 | Northern Trust Co., Chicago, IL, 5.300%, 8/1/2023 | $ 150,000,000 | |
TOTAL | 5,470,000,000 | ||
Sovereign— 4.7% | |||
2,500,000,000 | NRW.Bank, 5.240% - 5.310%, 8/1/2023 - 8/7/2023 | 2,500,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $7,970,000,000) | 7,970,000,000 | ||
3 | COMMERCIAL PAPER— 13.1% | ||
Finance - Banking— 9.6% | |||
1,251,000,000 | Anglesea Funding LLC, 5.044% - 5.452%, 8/1/2023 - 9/25/2023 | 1,249,951,547 | |
77,460,000 | Antalis S.A., (Societe Generale, Paris LIQ), 5.345%, 8/3/2023 | 77,437,020 | |
72,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.499%, 12/5/2023 | 70,654,320 | |
125,000,000 | Bank of Montreal, 5.015%, 10/11/2023 | 125,000,000 | |
375,000,000 | Bank of Montreal, 5.497%, 11/16/2023 | 369,036,979 | |
235,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 222,646,833 | |
195,000,000 | Bennington Stark Capital Co., LLC, (Societe Generale, Paris LIQ), 5.355%, 8/4/2023 | 194,913,063 | |
612,000,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | 582,983,032 | |
100,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 5.394%, 8/31/2023 | 99,552,500 | |
538,375,000 | Citigroup Global Markets, Inc., 5.687% - 5.707%, 11/30/2023 - 12/6/2023 | 528,054,341 | |
184,000,000 | Credit Agricole Corporate and Investment Bank, 5.372%, 8/1/2023 | 184,000,000 | |
277,500,000 | DNB Bank ASA, 5.404%, 11/16/2023 | 273,161,596 | |
34,000,000 | Great Bear Funding LLC, (Bank of Nova Scotia, Toronto COL), 5.305%, 8/2/2023 | 33,994,995 | |
196,000,000 | Longship Funding LLC, 5.285% - 5.326%, 8/2/2023 - 8/7/2023 | 195,897,253 | |
70,000,000 | Nordea Bank Abp, 5.399%, 11/17/2023 | 68,896,450 | |
83,000,000 | Royal Bank of Canada, 4.049%, 8/23/2023 | 82,802,691 | |
179,250,000 | Svenska Handelsbanken, Stockholm, 5.494% - 5.593%, 11/21/2023 - 11/28/2023 | 176,107,210 | |
215,000,000 | Toronto Dominion Bank, 5.350%, 2/6/2024 | 215,000,000 | |
302,000,000 | Toronto Dominion Bank, 5.800%, 5/16/2024 | 288,702,227 | |
TOTAL | 5,038,792,057 | ||
Finance - Retail— 1.5% | |||
618,500,000 | Chariot Funding LLC, 5.261% - 5.548%, 8/14/2023 - 9/26/2023 | 614,801,908 | |
72,500,000 | Old Line Funding, LLC, 5.143%, 11/3/2023 | 71,562,937 | |
67,500,000 | Old Line Funding, LLC, 5.710%, 12/15/2023 | 66,084,750 | |
25,000,000 | Thunder Bay Funding, LLC, 5.404%, 11/17/2023 | 24,605,500 | |
TOTAL | 777,055,095 |
Principal Amount or Shares | Value | ||
3 | COMMERCIAL PAPER— continued | ||
Oil & Oil Finance— 0.5% | |||
$ 282,250,000 | TotalEnergies Capital, 5.023% - 5.703%, 8/1/2023 - 11/27/2023 | $ 281,391,993 | |
Sovereign— 1.5% | |||
735,000,000 | BNG Bank N.V., 5.285% - 5.331%, 8/2/2023 - 8/10/2023 | 734,334,766 | |
70,000,000 | Export Development Canada, (Canada, Government of SUB), 5.203%, 11/9/2023 | 69,027,778 | |
TOTAL | 803,362,544 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $6,900,601,689) | 6,900,601,689 | ||
OTHER REPURCHASE AGREEMENTS— 14.2% | |||
Finance - Banking— 14.2% | |||
20,000,000 | BMO Capital Markets Corp, 5.47%, dated 7/31/2023, interest in a $20,000,000 collateralized loan agreement will repurchase securities provided as collateral for $20,003,039 on 8/1/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term note and U.S. Government Agency securities with a market value of $20,403,428 have been received as collateral and held with BNY Mellon as tri-party agent. | 20,000,000 | |
390,000,000 | BMO Capital Markets Corp, 5.42%, dated 7/31/2023, interest in a $425,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $425,063,986 on 8/1/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes, U.S. Government Agency securities, sovereign debt and treasury notes and with a market value of $433,680,962 have been received as collateral and held with BNY Mellon as tri-party agent. | 390,000,000 | |
675,000,000 | BNP Paribas S.A., 5.40%, dated 7/31/2023, interest in a $1,075,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,075,161,250 on 8/1/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, U.S. Government Agency securities, medium-term notes, sovereign debt and treasury notes with a market value of $1,097,015,812 have been received as collateral and held with BNY Mellon as tri-party agent. | 675,000,000 | |
100,000,000 | BNP Paribas S.A., 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023 in which asset-backed securities and corporate bonds with a market value of $153,023,254 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
1,000,000,000 | Citigroup Global Markets, Inc., 5.43%, dated 7/31/2023, interest in a $1,300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,300,196,083 on 8/1/2023, in which treasury bonds and treasury notes with a market value of $1,326,200,057 have been received as collateral and held with BNY Mellon as tri-party agent. | 1,000,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 650,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 7/6/2023, interest in a $900,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $900,962,500 on 8/10/2023, in which treasury bonds and treasury notes with a market value of $921,505,810 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 650,000,000 | |
225,000,000 | Credit Agricole S.A., 5.37%, dated 4/20/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,044,750 on 8/4/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds and sovereign debt with a market value of $306,045,774 have been received as collateral and held with BNY Mellon as tri-party agent. | 225,000,000 | |
275,000,000 | Credit Agricole S.A., 5.37%, dated 4/21/2023, interest in a $350,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $350,052,208 on 8/4/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $357,053,252 have been received as collateral and held with BNY Mellon as tri-party agent. | 275,000,000 | |
440,000,000 | Credit Agricole S.A., 5.37%, dated 2/17/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,096,958 on 8/4/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $663,098,897 have been received as collateral and held with BNY Mellon as tri-party agent. | 440,000,000 | |
100,000,000 | Credit Agricole S.A., 5.47%, dated 2/17/2023, interest in a $200,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $200,212,722 on 8/10/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $211,172,145 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
235,000,000 | HSBC Securities (USA), Inc, 5.42%, dated 7/31/2023, interest in a $335,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $335,050,436 on 8/1/2023 in which asset-backed securities corporate bonds, medium-term notes and sovereign debt with a market value of $341,700,124 have been received as collateral and held with BNY Mellon as tri-party agent. | 235,000,000 | |
225,000,000 | ING Financial Markets LLC, 5.39%, dated 7/31/2023, interest in a $225,000,000 collateralized loan agreement will repurchase securities provided as collateral for $225,033,688 on 8/1/2023 in which common stocks and exchange traded funds with a market value of $229,534,367 have been received as collateral and held with BNY Mellon as tri-party agent. | 225,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 565,000,000 | J.P. Morgan Securities LLC, 5.57%, dated 7/17/2023, interest in a $750,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $753,481,250 on 8/16/2023, in which corporate bonds with a market value of $765,000,001 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 565,000,000 | |
195,000,000 | Mizuho Securities USA, Inc, 5.76%, dated 2/9/2023, interest in a $200,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $202,016,000 on 9/11/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds and commercial paper with a market value of $204,718,080 have been received as collateral and held with BNY Mellon as tri-party agent. | 195,000,000 | |
200,000,000 | Mizuho Securities USA, Inc, 5.42%, dated 7/31/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,037,639 on 8/1/2023 in which asset-backed securities and corporate bonds with a market value of $255,038,392 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 | |
65,000,000 | Mizuho Securities USA, Inc, 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023 in which common stocks with a market value of $153,023,270 have been received as collateral and held with BNY Mellon as tri-party agent. | 65,000,000 | |
350,000,000 | Mitsubishi UFG Securities Americas Inc, 5.47%, dated 7/31/2023, interest in a $400,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $400,060,778 on 8/1/2023 in which asset-backed securities, corporate bonds, common stocks, commercial paper, exchange-traded funds, mutual funds and unit investment trusts with a market value of $408,062,040 have been received as collateral and held with BNY Mellon as tri-party agent. | 350,000,000 | |
150,000,000 | Pershing LLC, 5.57%, dated 7/14/202, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,324,917 on 8/10/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, convertible bonds, commercial paper, exchange-traded funds, medium-term notes, municipal bonds and mutual funds with a market value of $306,048,424 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
320,000,000 | Societe Generale, Paris, 5.47%, dated 7/31/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,098,764 on 8/1/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,196,426 have been received as collateral and held with BNY Mellon as tri-party agent. | 320,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 325,000,000 | Societe Generale, Paris, 5.38%, dated 7/31/2023, interest in a $450,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $450,067,250 on 8/1/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $459,069,163 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 325,000,000 | |
50,000,000 | Interest in $150,000,000 joint repurchase agreement 5.38%, dated 7/31/2023 under which Standard Chartered Bank will repurchase securities provided as collateral for $150,022,417 on 8/1/2023. 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 2/20/2053 and the market value of those underlying securities was $153,661,399. | 50,000,000 | |
100,000,000 | Repurchase agreement 5.43%, dated 7/27/2023 under which Standard Chartered Bank will repurchase securities provided as collateral for $100,105,583 on 8/3/2023. 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 12/20/2051 and the market value of those underlying securities was $102,076,964. | 100,000,000 | |
140,000,000 | Wells Fargo Securities LLC, 5.8%, dated 5/17/2023, interest in a $140,000,000 collateralized loan agreement will repurchase securities provided as collateral for $142,030,000 on 10/12/2023 in which asset-backed securities with a market value of $143,214,120 have been received as collateral and held with BNY Mellon as tri-party agent. | 140,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 5.96%, dated 2/3/2022, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $152,235,000 on 10/25/2023 in which convertible bonds with a market value of $153,128,472 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 5.94%, dated 6/16/2023, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $152,227,500 on 9/14/2023 in which convertible bonds with a market value of $154,161,423 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
200,000,000 | Wells Fargo Securities LLC, 5.91%, dated 5/30/2023, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $202,955,000 on 10/3/2023 in which convertible bonds with a market value of $204,904,775 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 220,000,000 | Wells Fargo Securities LLC, 5.94%, dated 1/9/2023, interest in a $220,000,000 collateralized loan agreement will repurchase securities provided as collateral for $223,267,000 on 10/19/2023 in which convertible bonds and certificates of deposit with a market value of $224,808,241 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 220,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $7,515,000,000) | 7,515,000,000 | ||
REPURCHASE AGREEMENTS— 14.2% | |||
Finance - Banking— 14.2% | |||
6,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $6,000,883,333 on 8/1/2023. 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 2/15/2030 and the market value of those underlying securities was $6,000,883,425. | 6,000,000,000 | |
500,000,000 | Interest in $2,300,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $2,300,338,611 on 8/1/2023. 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 9/15/2065 and the market value of those underlying securities was $2,345,460,138. | 500,000,000 | |
978,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Sumitomo Mitsui Banking Corp. will repurchase securities provided as collateral for $3,000,441,667 on 8/1/2023. 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 10/20/2052 and the market value of those underlying securities was $3,060,450,501. | 978,000,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $7,478,000,000) | 7,478,000,000 | ||
INVESTMENT COMPANIES— 2.9% | |||
1,000,016,505 | Federated Hermes Institutional Money Market Management, Institutional Shares, 5.34%4 | 999,713,001 | |
500,317,389 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 5.32%4 | 500,320,089 | |
TOTAL INVESTMENT COMPANIES (IDENTIFIED COST $1,500,033,090) | 1,500,033,090 | ||
TOTAL INVESTMENT IN SECURITIES—98.7% (AT AMORTIZED COST)5 | 52,080,452,155 | ||
OTHER ASSETS AND LIABILITIES - NET—1.3%6 | 707,745,973 | ||
TOTAL NET ASSETS—100% | $52,788,198,128 |
Federated Hermes Institutional Money Market Management, Institutional Shares | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | Total of Affiliated Transactions | |
Value as of 7/31/2022 | $999,713,001 | $500,320,089 | $1,500,033,090 |
Purchases at Cost | $— | $— | $— |
Proceeds from Sales | $— | $— | $— |
Change in Unrealized Appreciation/ Depreciation | $— | $— | $— |
Net Realized Gain/(Loss) | $— | $— | $— |
Value as of 7/31/2023 | $999,713,001 | $500,320,089 | $1,500,033,090 |
Shares Held as of 7/31/2023 | 1,000,016,505 | 500,317,389 | 1,500,333,894 |
Dividend Income | $62,341,800 | $— | $62,341,800 |
1 | 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. |
2 | Denotes a variable rate security with current rate and next reset date shown. |
3 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
4 | 7-day net yield. |
5 | Also represents cost of investments for federal tax purposes. |
6 | 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, 2023, 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: | ||||
Notes - Variable | $— | $12,734,057,561 | $— | $12,734,057,561 |
Certificates of Deposit | — | 7,982,759,815 | — | 7,982,759,815 |
Time Deposits | — | 7,970,000,000 | — | 7,970,000,000 |
Commercial Paper | — | 6,900,601,689 | — | 6,900,601,689 |
Other Repurchase Agreements | — | 7,515,000,000 | — | 7,515,000,000 |
Repurchase Agreements | — | 7,478,000,000 | — | 7,478,000,000 |
Investment Company | 1,500,033,090 | — | — | 1,500,033,090 |
TOTAL SECURITIES | $1,500,033,090 | $50,580,419,065 | $— | $52,080,452,155 |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
SOFR | —Secured Overnight Financing Rate | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.038 | 0.002 | 0.0001 | 0.010 | 0.020 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | (0.000)1 |
Total From Investment Operations | 0.038 | 0.002 | 0.0001 | 0.010 | 0.020 |
Less Distributions: | |||||
Distributions from net investment income | (0.038) | (0.002) | (0.000)1 | (0.010) | (0.020) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.038) | (0.002) | (0.000)1 | (0.010) | (0.020) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.89% | 0.20% | 0.01% | 1.01% | 2.03% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.51% | 0.32% | 0.23% | 0.53% | 0.54% |
Net investment income | 3.70% | 0.18% | 0.01% | 1.01% | 2.06% |
Expense waiver/reimbursement4 | 0.09% | 0.33% | 0.41% | 0.11% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $536,771 | $711,893 | $1,034,830 | $1,603,414 | $1,678,950 |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.032 | 0.001 | 0.0001 | 0.006 | 0.014 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.032 | 0.001 | 0.0001 | 0.006 | 0.014 |
Less Distributions: | |||||
Distributions from net investment income | (0.032) | (0.001) | (0.000)1 | (0.006) | (0.014) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.032) | (0.001) | (0.000)1 | (0.006) | (0.014) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.24% | 0.08% | 0.01% | 0.56% | 1.42% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 1.13% | 0.45% | 0.23% | 0.97% | 1.13% |
Net investment income | 3.23% | 0.09% | 0.01% | 0.54% | 1.42% |
Expense waiver/reimbursement4 | 0.14% | 0.82% | 1.09% | 0.32% | 0.16% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $48,737 | $41,244 | $38,762 | $48,615 | $44,257 |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.041 | 0.003 | 0.0001 | 0.013 | 0.023 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.041 | 0.003 | 0.0001 | 0.013 | 0.023 |
Less Distributions: | |||||
Distributions from net investment income | (0.041) | (0.003) | (0.000)1 | (0.013) | (0.023) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.041) | (0.003) | (0.000)1 | (0.013) | (0.023) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 4.20% | 0.33% | 0.04% | 1.33% | 2.36% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.20% | 0.19% | 0.20% | 0.20% | 0.20% |
Net investment income | 4.42% | 0.36% | 0.04% | 1.33% | 2.36% |
Expense waiver/reimbursement4 | 0.09% | 0.12% | 0.10% | 0.10% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $44,262,167 | $13,928,308 | $11,788,470 | $18,814,127 | $16,862,096 |
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 | ||||
2023 | 2022 | 2021 | 2020 | ||
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.041 | 0.003 | 0.0002 | 0.013 | 0.013 |
Net realized gain (loss) | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | — |
Total From Investment Operations | 0.041 | 0.003 | 0.0002 | 0.013 | 0.013 |
Less Distributions: | |||||
Distributions from net investment income | (0.041) | (0.003) | (0.000)2 | (0.013) | (0.013) |
Distributions from net realized gains | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | — |
Total Distributions | (0.041) | (0.003) | (0.000)2 | (0.013) | (0.013) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 4.20% | 0.33% | 0.04% | 1.33% | 1.31% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.20% | 0.19% | 0.20% | 0.20% | 0.20%5 |
Net investment income | 4.42% | 0.75% | 0.04% | 1.32% | 2.39%5 |
Expense waiver/reimbursement6 | 0.09% | 0.10% | 0.10% | 0.10% | 0.10%5 |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $3,288,901 | $1,026,476 | $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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.039 | 0.002 | 0.0001 | 0.011 | 0.021 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.039 | 0.002 | 0.0001 | 0.011 | 0.021 |
Less Distributions: | |||||
Distributions from net investment income | (0.039) | (0.002) | (0.000)1 | (0.011) | (0.021) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.039) | (0.002) | (0.000)1 | (0.011) | (0.021) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.94% | 0.24% | 0.01% | 1.09% | 2.10% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.45% | 0.28% | 0.23% | 0.45% | 0.45% |
Net investment income | 4.07% | 0.23% | 0.01% | 1.06% | 2.09% |
Expense waiver/reimbursement4 | 0.09% | 0.28% | 0.32% | 0.10% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $2,868,424 | $1,479,712 | $1,711,361 | $3,016,273 | $2,757,262 |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.034 | 0.001 | 0.0001 | 0.007 | 0.016 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.034 | 0.001 | 0.0001 | 0.007 | 0.016 |
Less Distributions: | |||||
Distributions from net investment income | (0.034) | (0.001) | (0.000)1 | (0.007) | (0.016) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.034) | (0.001) | (0.000)1 | (0.007) | (0.016) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.48% | 0.12% | 0.01% | 0.72% | 1.65% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.90% | 0.40% | 0.22% | 0.81% | 0.90% |
Net investment income | 3.35% | 0.12% | 0.01% | 0.71% | 1.64% |
Expense waiver/reimbursement4 | 0.09% | 0.60% | 0.78% | 0.19% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,061,640 | $1,301,550 | $1,275,933 | $1,125,251 | $1,043,702 |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.033 | 0.001 | 0.0001 | 0.006 | 0.015 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.033 | 0.001 | 0.0001 | 0.006 | 0.015 |
Less Distributions: | |||||
Distributions from net investment income | (0.033) | (0.001) | (0.000)1 | (0.006) | (0.015) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.033) | (0.001) | (0.000)1 | (0.006) | (0.015) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.34% | 0.09% | 0.01% | 0.62% | 1.51% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 1.04% | 0.42% | 0.22% | 0.92% | 1.03% |
Net investment income | 3.45% | 0.10% | 0.01% | 0.63% | 1.49% |
Expense waiver/reimbursement4 | 0.19% | 0.84% | 1.03% | 0.34% | 0.21% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $72,195 | $42,283 | $42,076 | $33,265 | $32,789 |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.040 | 0.003 | 0.0001 | 0.012 | 0.022 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.040 | 0.003 | 0.0001 | 0.012 | 0.022 |
Less Distributions: | |||||
Distributions from net investment income | (0.040) | (0.003) | (0.000)1 | (0.012) | (0.022) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.040) | (0.003) | (0.000)1 | (0.012) | (0.022) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 4.10% | 0.29% | 0.01% | 1.23% | 2.26% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.30% | 0.23% | 0.23% | 0.30% | 0.30% |
Net investment income | 4.20% | 0.27% | 0.01% | 1.20% | 2.25% |
Expense waiver/reimbursement4 | 0.09% | 0.18% | 0.18% | 0.10% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $600,915 | $310,975 | $329,279 | $548,708 | $670,114 |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.036 | 0.002 | 0.0001 | 0.009 | 0.018 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.036 | 0.002 | 0.0001 | 0.009 | 0.018 |
Less Distributions: | |||||
Distributions from net investment income | (0.036) | (0.002) | (0.000)1 | (0.009) | (0.018) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.036) | (0.002) | (0.000)1 | (0.009) | (0.018) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.69% | 0.17% | 0.01% | 0.87% | 1.85% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.69% | 0.33% | 0.23% | 0.66% | 0.70% |
Net investment income | 3.97% | 0.12% | 0.01% | 0.86% | 1.90% |
Expense waiver/reimbursement4 | 0.09% | 0.47% | 0.57% | 0.14% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $48,449 | $18,172 | $2,670,993 | $3,667,951 | $3,502,863 |
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, 2023
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $14,993,000,000 |
Investment in securities, including $1,500,033,090 of investment in affiliated holdings* | 37,087,452,155 |
Investment in securities, at amortized cost and fair value | 52,080,452,155 |
Cash | 464,886,587 |
Income receivable | 153,254,112 |
Income receivable from affiliated holdings | 6,654,651 |
Receivable for shares sold | 239,923,910 |
Total Assets | 52,945,171,415 |
Liabilities: | |
Payable for investments purchased | 6,100,000 |
Payable for shares redeemed | 140,093,262 |
Income distribution payable | 6,879,979 |
Payable for investment adviser fee (Note 5) | 147,271 |
Payable for administrative fee (Note 5) | 111,984 |
Payable for distribution services fee (Note 5) | 376,895 |
Payable for other service fees (Notes 2 and 5) | 1,192,889 |
Accrued expenses (Note 5) | 2,071,007 |
Total Liabilities | 156,973,287 |
Net assets for 52,791,772,191 shares outstanding | $52,788,198,128 |
Net Assets Consist of: | |
Paid-in capital | $52,791,763,375 |
Total distributable earnings (loss) | (3,565,247) |
Total Net Assets | $52,788,198,128 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$536,770,609 ÷ 536,806,937 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Class R Shares: | |
$48,737,214 ÷ 48,740,522 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Wealth Shares: | |
$44,262,167,235 ÷ 44,265,164,249 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$3,288,900,706 ÷ 3,289,122,934 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$2,868,423,748 ÷ 2,868,617,940 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$1,061,639,862 ÷ 1,061,711,890 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$72,195,058 ÷ 72,199,959 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$600,915,118 ÷ 600,955,891 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$48,448,578 ÷ 48,451,869 shares outstanding, no par value, unlimited shares authorized | $1.00 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31, 2023
Investment Income: | |
Interest | $1,616,536,625 |
Dividends received from affiliated holdings* | 62,341,800 |
TOTAL INCOME | 1,678,878,425 |
Expenses: | |
Investment adviser fee (Note 5) | 71,539,477 |
Administrative fee (Note 5) | 28,540,514 |
Custodian fees | 1,104,719 |
Transfer agent fees (Note 2) | 2,183,534 |
Directors’/Trustees’ fees (Note 5) | 151,001 |
Auditing fees | 25,159 |
Legal fees | 11,617 |
Portfolio accounting fees | 267,884 |
Distribution services fee (Note 5) | 4,521,588 |
Other service fees (Notes 2 and 5) | 10,329,986 |
Share registration costs | 2,515,451 |
Printing and postage | 649,512 |
Miscellaneous (Note 5) | 175,437 |
TOTAL EXPENSES | 122,015,879 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (33,104,910) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (86,491) |
TOTAL WAIVERS AND REIMBURSEMENTS | (33,191,401) |
Net expenses | 88,824,478 |
Net investment income | 1,590,053,947 |
Net realized loss on investments | (3,561,476) |
Change in net assets resulting from operations | $1,586,492,471 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $1,590,053,947 | $53,190,187 |
Net realized gain (loss) | (3,561,476) | 143,440 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 1,586,492,471 | 53,333,627 |
Distributions to Shareholders: | ||
Automated Shares | (24,227,826) | (2,585,791) |
Class R Shares | (1,415,396) | (33,725) |
Wealth Shares | (1,314,807,011) | (39,560,633) |
Advisor Shares | (105,829,942) | (2,214,414) |
Service Shares | (82,982,235) | (3,354,482) |
Cash II Shares | (37,391,710) | (1,568,320) |
Cash Series Shares | (1,786,237) | (37,265) |
Capital Shares | (20,426,106) | (832,858) |
Trust Shares | (1,355,868) | (2,998,443) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (1,590,222,331) | (53,185,931) |
Share Transactions: | ||
Proceeds from sale of shares | 77,865,463,389 | 19,988,592,929 |
Net asset value of shares issued to shareholders in payment of distributions declared | 1,518,646,831 | 49,057,880 |
Cost of shares redeemed | (45,452,793,697) | (20,256,811,128) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 33,931,316,523 | (219,160,319) |
Change in net assets | 33,927,586,663 | (219,012,623) |
Net Assets: | ||
Beginning of period | 18,860,611,465 | 19,079,624,088 |
End of period | $52,788,198,128 | $18,860,611,465 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Automated Shares | $397,859 | $— |
Class R Shares | 104,479 | (2,153) |
Wealth Shares | 420,937 | (56) |
Advisor Shares | 34,536 | — |
Service Shares | 31,745 | — |
Cash II Shares | 1,139,299 | (9,654) |
Cash Series Shares | 46,469 | (996) |
Capital Shares | 7,737 | — |
Trust Shares | 473 | (2) |
TOTAL | $2,183,534 | $(12,861) |
Other Service Fees Incurred | |
Automated Shares | $1,638,118 |
Class R Shares | 107,699 |
Service Shares | 5,100,847 |
Cash II Shares | 2,787,404 |
Cash Series Shares | 129,237 |
Capital Shares | 486,227 |
Trust Shares | 80,454 |
TOTAL | $10,329,986 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 877,004,828 | $877,004,828 | 1,528,635,804 | $1,528,635,804 |
Shares issued to shareholders in payment of distributions declared | 23,720,180 | 23,720,180 | 2,577,947 | 2,577,947 |
Shares redeemed | (1,075,804,759) | (1,075,804,759) | (1,854,156,282) | (1,854,156,282) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | (175,079,751) | $(175,079,751) | (322,942,531) | $(322,942,531) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Class R Shares: | Shares | Amount | Shares | Amount |
Shares sold | 34,129,153 | $34,129,153 | 17,000,468 | $17,000,468 |
Shares issued to shareholders in payment of distributions declared | 1,409,332 | 1,409,332 | 33,614 | 33,614 |
Shares redeemed | (28,042,086) | (28,042,086) | (14,551,648) | (14,551,648) |
NET CHANGE RESULTING FROM CLASS R SHARE TRANSACTIONS | 7,496,399 | $7,496,399 | 2,482,434 | $2,482,434 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | 64,964,614,365 | $64,964,614,365 | 13,906,013,345 | $13,906,013,345 |
Shares issued to shareholders in payment of distributions declared | 1,250,686,292 | 1,250,686,292 | 35,833,910 | 35,833,910 |
Shares redeemed | (35,878,329,216) | (35,878,329,216) | (11,802,119,110) | (11,802,119,110) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | 30,336,971,441 | $30,336,971,441 | 2,139,728,145 | $2,139,728,145 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Advisor Shares: | Shares | Amount | Shares | Amount |
Shares sold | 6,152,436,887 | $6,152,436,887 | 1,349,386,951 | $1,349,386,951 |
Shares issued to shareholders in payment of distributions declared | 105,829,739 | 105,829,739 | 2,214,267 | 2,214,267 |
Shares redeemed | (3,995,611,046) | (3,995,611,046) | (513,054,969) | (513,054,969) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | 2,262,655,580 | $2,262,655,580 | 838,546,249 | $838,546,249 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 4,235,413,542 | $4,235,413,542 | 1,344,417,523 | $1,344,417,523 |
Shares issued to shareholders in payment of distributions declared | 78,436,333 | 78,436,333 | 3,061,138 | 3,061,138 |
Shares redeemed | (2,924,931,444) | (2,924,931,444) | (1,579,139,032) | (1,579,139,032) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 1,388,918,431 | $1,388,918,431 | (231,660,371) | $(231,660,371) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 495,313,546 | $495,313,546 | 610,894,665 | $610,894,665 |
Shares issued to shareholders in payment of distributions declared | 36,553,414 | 36,553,414 | 1,557,950 | 1,557,950 |
Shares redeemed | (771,694,021) | (771,694,021) | (586,846,085) | (586,846,085) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | (239,827,061) | $(239,827,061) | 25,606,530 | $25,606,530 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 128,212,272 | $128,212,272 | 61,276,990 | $61,276,990 |
Shares issued to shareholders in payment of distributions declared | 1,736,731 | 1,736,731 | 36,978 | 36,978 |
Shares redeemed | (100,031,296) | (100,031,296) | (61,108,129) | (61,108,129) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 29,917,707 | $29,917,707 | 205,839 | $205,839 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 873,403,036 | $873,403,036 | 299,364,846 | $299,364,846 |
Shares issued to shareholders in payment of distributions declared | 18,933,076 | 18,933,076 | 743,705 | 743,705 |
Shares redeemed | (602,352,249) | (602,352,249) | (318,414,947) | (318,414,947) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 289,983,863 | $289,983,863 | (18,306,396) | $(18,306,396) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 104,935,760 | $104,935,760 | 871,602,337 | $871,602,337 |
Shares issued to shareholders in payment of distributions declared | 1,341,734 | 1,341,734 | 2,998,371 | 2,998,371 |
Shares redeemed | (75,997,580) | (75,997,580) | (3,527,420,926) | (3,527,420,926) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | 30,279,914 | $30,279,914 | (2,652,820,218) | $(2,652,820,218) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 33,931,316,523 | $33,931,316,523 | (219,160,319) | $(219,160,319) |
2023 | 2022 | |
Ordinary income | $1,590,158,584 | $53,185,931 |
Long-term capital gains | $63,747 | $— |
Distributions payable | $(3,771) |
Capital loss carryforwards | $(3,561,476) |
TOTAL | $(3,565,247) |
Short-Term | Long-Term | Total |
$3,561,476 | $— | $3,561,476 |
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 | $219,356 | $(21,935) |
Cash II Shares | 3,906,604 | — |
Cash Series Shares | 310,168 | (51,695) |
Trust Shares | 85,460 | — |
TOTAL | $4,521,588 | $(73,630) |
September 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual: | |||
Automated Shares | $1,000 | $1,023.30 | $2.56 |
Class R Shares | $1,000 | $1,020.00 | $5.66 |
Wealth Shares | $1,000 | $1,024.70 | $1.00 |
Advisor Shares | $1,000 | $1,024.70 | $1.00 |
Service Shares | $1,000 | $1,023.40 | $2.26 |
Cash II Shares | $1,000 | $1,021.20 | $4.51 |
Cash Series Shares | $1,000 | $1,020.50 | $5.21 |
Capital Shares | $1,000 | $1,024.20 | $1.51 |
Trust Shares | $1,000 | $1,022.30 | $3.46 |
Hypothetical (assuming a 5% return before expenses): | |||
Automated Shares | $1,000 | $1,022.27 | $2.56 |
Class R Shares | $1,000 | $1,019.19 | $5.66 |
Wealth Shares | $1,000 | $1,023.80 | $1.00 |
Advisor Shares | $1,000 | $1,023.80 | $1.00 |
Service Shares | $1,000 | $1,022.56 | $2.26 |
Cash II Shares | $1,000 | $1,020.33 | $4.51 |
Cash Series Shares | $1,000 | $1,019.64 | $5.21 |
Capital Shares | $1,000 | $1,023.31 | $1.51 |
Trust Shares | $1,000 | $1,021.37 | $3.46 |
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 | 0.51% |
Class R Shares | 1.13% |
Wealth Shares | 0.20% |
Advisor Shares | 0.20% |
Service Shares | 0.45% |
Cash II Shares | 0.90% |
Cash Series Shares | 1.04% |
Capital Shares | 0.30% |
Trust Shares | 0.69% |
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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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 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
Security Type | Percentage of Total Net Assets |
Bank Instruments | 30.2% |
Other Repurchase Agreements and Repurchase Agreements | 28.4% |
Variable Rate Instruments | 24.1% |
Commercial Paper | 13.1% |
Cash Equivalent2 | 2.9% |
Other Assets and Liabilities—Net3 | 1.3% |
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 | 75.7% |
8-30 Days | 3.7% |
31-90 Days | 5.9% |
91-180 Days | 7.1% |
181 Days or more | 6.3% |
Other Assets and Liabilities—Net3 | 1.3% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Overnight securities comprised 33.09% 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 | NOTES - VARIABLE— 24.1% | ||
Finance - Banking— 22.5% | |||
$ 145,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | $ 145,000,000 | |
275,000,000 | Bank of America N.A., 5.650% (SOFR +0.350%), 8/1/2023 | 275,000,000 | |
250,000,000 | Bank of America N.A., 5.740% (SOFR +0.440%), 8/1/2023 | 250,000,000 | |
175,000,000 | 2 | Bank of Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 175,000,000 |
175,000,000 | Bank of Montreal, 5.750% (SOFR +0.450%), 8/1/2023 | 175,000,000 | |
250,000,000 | Bank of Montreal, 5.900% (SOFR +0.600%), 8/1/2023 | 250,000,000 | |
165,000,000 | Bank of Montreal, 5.900% (SOFR +0.600%), 8/1/2023 | 165,000,000 | |
52,500,000 | Bank of Montreal, 5.980% (SOFR +0.680%), 8/1/2023 | 52,500,000 | |
75,000,000 | Bank of Nova Scotia, Toronto, 5.610% (SOFR +0.310%), 8/1/2023 | 75,000,000 | |
175,000,000 | Bank of Nova Scotia, Toronto, 5.680% (SOFR +0.380%), 8/1/2023 | 175,000,000 | |
90,000,000 | Bank of Nova Scotia, Toronto, 5.710% (SOFR +0.410%), 8/1/2023 | 89,999,922 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.740% (SOFR +0.440%), 8/1/2023 | 50,000,000 | |
92,000,000 | Bank of Nova Scotia, Toronto, 5.820% (SOFR +0.520%), 8/1/2023 | 92,023,632 | |
40,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 40,000,000 | |
65,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 65,000,000 | |
55,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 55,000,000 | |
150,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 150,000,000 | |
55,000,000 | Bank of Nova Scotia, Toronto, 5.870% (SOFR +0.570%), 8/1/2023 | 54,999,985 | |
46,500,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 46,499,967 | |
70,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 70,000,000 | |
86,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 86,000,000 | |
150,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 150,000,000 |
135,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 135,000,000 | |
147,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.950% (SOFR +0.650%), 8/1/2023 | 147,000,000 |
142,500,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.660%), 8/1/2023 | 142,500,000 | |
197,000,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.660%), 8/1/2023 | 197,000,000 | |
65,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.450% (SOFR +0.150%), 8/1/2023 | 65,000,000 | |
67,500,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.620% (SOFR +0.320%), 8/1/2023 | 67,500,000 | |
174,500,000 | BPCE S.A., 5.630% (SOFR +0.330%), 8/1/2023 | 174,500,000 | |
225,000,000 | 2 | Canadian Imperial Bank of Commerce, 5.760% (SOFR +0.460%), 8/1/2023 | 225,000,000 |
317,500,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 317,500,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 121,000,000 | 2 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | $ 121,000,000 |
60,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.760% (SOFR +0.460%), 8/1/2023 | 60,000,000 | |
119,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.520% (SOFR +0.220%), 8/1/2023 | 119,000,000 | |
100,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.530% (SOFR +0.230%), 8/1/2023 | 100,000,000 | |
75,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 75,000,000 | |
100,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 100,000,000 | |
490,000 | Gadsden, AL Airport Authority, Series 2004, (Wells Fargo Bank, N.A. LOC), 5.310%, 8/3/2023 | 490,000 | |
130,000,000 | ING (U.S.) Funding LLC, 5.460% (SOFR +0.150%), 8/1/2023 | 130,000,000 | |
70,000,000 | Matchpoint Finance PLC, (BNP Paribas S.A. LIQ), 5.610% (SOFR +0.310%), 8/1/2023 | 70,001,863 | |
90,000,000 | 2 | Mizuho Bank Ltd., 5.690% (SOFR +0.380%), 8/1/2023 | 90,000,000 |
140,000,000 | National Australia Bank Ltd., Melbourne, 5.510% (SOFR +0.210%), 8/1/2023 | 140,000,000 | |
177,500,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 177,500,000 | |
175,000,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 175,000,000 | |
200,000,000 | National Australia Bank Ltd., Melbourne, 5.750% (SOFR +0.450%), 8/1/2023 | 200,000,000 | |
125,000,000 | National Australia Bank Ltd., Melbourne, 5.840% (SOFR +0.540%), 8/1/2023 | 125,000,000 | |
300,000,000 | National Australia Bank Ltd., Melbourne, 5.860% (SOFR +0.560%), 8/1/2023 | 300,000,000 | |
220,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 220,000,000 | |
225,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 225,000,000 | |
500,000,000 | National Bank of Canada, Montreal, 5.620% (SOFR +0.320%), 8/1/2023 | 500,000,000 | |
370,000,000 | 2 | Nordea Bank Abp, 5.720% (SOFR +0.420%), 8/1/2023 | 370,000,000 |
19,670,000 | Osprey Properties Ltd. Partnership, LLLP & Nighthawk Properties, LLC, Series 2008, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 19,670,000 | |
29,435,000 | Panel Rey S.A., Series 2016, (Citibank N.A., New York LOC), 5.480%, 8/3/2023 | 29,435,000 | |
150,000,000 | Ridgefield Funding Co. LLC Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | 150,000,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 170,000,000 | Ridgefield Funding Co. LLC Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | $ 170,000,000 | |
112,500,000 | Royal Bank of Canada, New York Branch, 5.870% (SOFR +0.570%), 8/1/2023 | 112,500,000 | |
175,000,000 | Royal Bank of Canada, New York Branch, 5.900% (SOFR +0.600%), 8/1/2023 | 175,000,000 | |
375,000,000 | 2 | State Street Bank and Trust Co., 5.460% (SOFR +0.150%), 8/1/2023 | 375,000,000 |
35,000,000 | 2 | Sumitomo Mitsui Banking Corp., 5.680% (SOFR +0.380%), 8/1/2023 | 35,000,000 |
300,000,000 | 2 | Sumitomo Mitsui Trust Bank Ltd., 5.590% (SOFR +0.290%), 8/1/2023 | 300,000,000 |
254,000,000 | 2 | Sumitomo Mitsui Trust Bank Ltd., 5.610% (SOFR +0.310%), 8/1/2023 | 254,000,000 |
120,000,000 | 2 | Sumitomo Mitsui Trust Bank Ltd., 5.680% (SOFR +0.380%), 8/1/2023 | 120,000,000 |
360,000,000 | Svenska Handelsbanken, Stockholm, 5.460% (SOFR +0.150%), 8/1/2023 | 360,000,000 | |
43,000,000 | 2 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 43,000,000 |
171,000,000 | 2 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 171,000,000 |
382,500,000 | Svenska Handelsbanken, Stockholm, 5.730% (SOFR +0.420%), 8/1/2023 | 382,500,000 | |
180,000,000 | Svenska Handelsbanken, Stockholm, 5.760% (SOFR +0.450%), 8/1/2023 | 180,000,000 | |
130,907,193 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 5.720%, 8/1/2023 | 130,907,193 | |
420,500,000 | Toronto Dominion Bank, 5.810% (SOFR +0.500%), 8/1/2023 | 420,500,000 | |
130,000,000 | 2 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 130,000,000 |
170,000,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 170,000,000 | |
172,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 8/1/2023 | 172,000,000 | |
195,000,000 | 2 | Wells Fargo Bank, N.A., 5.750% (SOFR +0.450%), 8/1/2023 | 195,000,000 |
115,000,000 | 2 | Wells Fargo Bank, N.A., 5.950% (SOFR +0.650%), 8/1/2023 | 115,000,000 |
25,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 24,999,999 | |
200,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 200,000,000 | |
TOTAL | 11,891,527,561 | ||
Finance - Retail— 0.8% | |||
70,000,000 | Fairway Finance Co. LLC, 5.470% (SOFR +0.170%), 8/1/2023 | 70,000,000 | |
70,000,000 | Old Line Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 70,000,000 | |
50,000,000 | Old Line Funding, LLC, 5.650% (SOFR +0.340%), 8/1/2023 | 50,000,000 | |
15,000,000 | Old Line Funding, LLC, 5.710% (SOFR +0.400%), 8/1/2023 | 15,000,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Retail— continued | |||
$ 75,000,000 | Sheffield Receivables Co. LLC, 5.620% (SOFR +0.320%), 8/1/2023 | $ 75,000,000 | |
40,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 40,000,000 | |
25,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 25,000,000 | |
67,500,000 | Thunder Bay Funding, LLC, 5.830% (SOFR +0.520%), 8/1/2023 | 67,500,000 | |
TOTAL | 412,500,000 | ||
Government Agency— 0.8% | |||
15,000,000 | 12th & Yesler Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 15,000,000 | |
10,365,000 | 1320 W Jefferson LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 10,365,000 | |
4,925,000 | Andrew Long Irrevocable Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 4,925,000 | |
7,550,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 7,550,000 | |
1,995,000 | BWF Forge TL Properties Owner LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 1,995,000 | |
4,900,000 | Carmel Valley Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 4,900,000 | |
1,555,000 | CMR LLC, CMR LLC Project Series 2017, (Federal Home Loan Bank of Indianapolis LOC), 5.550%, 8/3/2023 | 1,555,000 | |
5,415,000 | Copper Top, LLC, Series 2023, (Federal Home Loan Bank of Topeka LOC), 5.400%, 8/3/2023 | 5,415,000 | |
2,850,000 | CP Canyons WFH, LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 2,850,000 | |
5,035,000 | Dennis Wesley Co., Inc., The Dennis Wesley Co., Inc. Project, (Federal Home Loan Bank of Indianapolis LOC), 5.400%, 8/3/2023 | 5,035,000 | |
10,100,000 | Encinitas Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 10,100,000 | |
6,130,000 | Frank Dale Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 6,130,000 | |
11,100,000 | Ivy Row at South, LLC, (Federal Home Loan Bank of Atlanta LOC), 5.540%, 8/3/2023 | 11,100,000 | |
13,645,000 | Ivy Row at Southern Miss, LLC, (Federal Home Loan Bank of Atlanta LOC), 5.540%, 8/3/2023 | 13,645,000 | |
5,260,000 | JCW 2022 Heritage Trust dated December 13, 2022, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 5,260,000 | |
5,985,000 | JWM Family Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 5,985,000 | |
6,000,000 | Lavonia O. Frick Family Trust, (Federal Home Loan Bank of Atlanta LOC), 5.400%, 8/3/2023 | 6,000,000 | |
6,740,000 | Mason Harrison Ratliff Enterprises, LLC, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 6,740,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 30,200,000 | Mike P. Sturdivant, Sr. Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | $ 30,200,000 | |
5,875,000 | NWD 2017 Family Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 5,875,000 | |
35,960,000 | Park Stanton Place LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 35,960,000 | |
5,760,000 | Phenix City, AL Downtown Redevelopment Authority, Series 2013-A, (Federal Home Loan Bank of New York LOC), 5.400%, 8/3/2023 | 5,760,000 | |
21,000,000 | Pittsburg Fox Creek Associates, LP, Series 2011-A, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 21,000,000 | |
16,270,000 | Plaza Fitzsimons Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 16,270,000 | |
5,025,000 | Public Finance Authority, Series 2015-A Ram Eufaula Hospitality, LLC, (Federal Home Loan Bank of New York LOC), 5.200%, 8/3/2023 | 5,025,000 | |
6,000,000 | Riverview Project, Series 2021, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,000,000 | |
7,020,000 | Robert Kinsala 2009 Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 7,020,000 | |
24,900,000 | Rohnert Park 668, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 24,900,000 | |
7,600,000 | Sandy Jacobs Irrevocable Insurance Trust, Series 2019, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 7,600,000 | |
22,065,000 | Sendra Family Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 22,065,000 | |
11,260,000 | Shawn R. Trapuzzano Irrevocable Insurance Trust, (Federal Home Loan Bank of Pittsburgh LOC), 5.400%, 8/3/2023 | 11,260,000 | |
4,860,000 | Spingola Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 4,860,000 | |
8,825,000 | Susan D. Travers Heritage Trust, Series 2023, (Federal Home Loan Bank of Topeka LOC), 5.540%, 8/3/2023 | 8,825,000 | |
2,560,000 | The J.G. Aguirre Master Trust, (Federal Home Loan Bank of Atlanta LOC), 5.400%, 8/3/2023 | 2,560,000 | |
23,765,000 | The Jacob Rosenstein Irrevocable Life Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 23,765,000 | |
4,150,000 | The Mary Jane Beauregard Irrevocable Insurance Trust of 2017, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 4,150,000 | |
4,710,000 | The Mulberry Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 4,710,000 | |
20,330,000 | The Murray D. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/2/2023 | 20,330,000 | |
20,945,000 | The Ray L. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/2/2023 | 20,945,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 16,400,000 | Wingo Family Master Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | $ 16,400,000 | |
TOTAL | 430,030,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $12,734,057,561) | 12,734,057,561 | ||
CERTIFICATES OF DEPOSIT— 15.1% | |||
Finance - Banking— 15.1% | |||
109,000,000 | Bank of America N.A., 5.440%, 2/7/2024 | 109,000,000 | |
1,287,000,000 | Bank of America N.A., 5.600% - 5.830%, 10/26/2023 - 6/17/2024 | 1,287,000,000 | |
172,500,000 | Bank of Montreal, 5.470% - 5.820%, 1/8/2024 - 5/28/2024 | 172,500,000 | |
127,000,000 | Bank of Nova Scotia, Toronto, 5.410%, 11/17/2023 | 127,000,000 | |
127,000,000 | BMO Harris Bank, N.A., 5.730%, 12/13/2023 | 127,000,000 | |
607,000,000 | Canadian Imperial Bank of Commerce, 5.250% - 5.800%, 11/20/2023 - 6/13/2024 | 607,000,000 | |
885,000,000 | Credit Agricole Corporate and Investment Bank, 5.250% - 5.390%, 8/1/2023 - 8/7/2023 | 885,000,000 | |
500,000,000 | DNB Bank ASA, 5.450%, 11/22/2023 | 500,000,000 | |
100,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.400%, 11/17/2023 | 100,000,000 | |
1,428,000,000 | Mizuho Bank Ltd., 5.380% - 5.420%, 8/15/2023 - 9/1/2023 | 1,428,000,000 | |
219,000,000 | MUFG Bank Ltd., 5.550%, 9/12/2023 | 219,000,000 | |
400,000,000 | Nordea Bank Abp, 5.400%, 11/20/2023 | 400,000,000 | |
1,206,500,000 | Sumitomo Mitsui Trust Bank Ltd., 5.240% - 5.550%, 8/1/2023 - 9/26/2023 | 1,206,500,000 | |
150,000,000 | Toronto Dominion Bank, 5.200%, 2/2/2024 | 150,000,000 | |
175,000,000 | Toronto Dominion Bank, 5.250%, 1/25/2024 | 175,000,000 | |
450,000,000 | Toronto Dominion Bank, 5.440% - 6.050%, 2/13/2024 - 7/10/2024 | 450,000,000 | |
40,000,000 | Wells Fargo Bank International, 5.420%, 9/11/2023 | 39,759,815 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $7,982,759,815) | 7,982,759,815 | ||
TIME DEPOSITS— 15.1% | |||
Finance - Banking— 10.4% | |||
2,620,000,000 | ABN Amro Bank NV, 5.260% - 5.330%, 8/1/2023 - 8/7/2023 | 2,620,000,000 | |
1,850,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.250% - 5.280%, 8/1/2023 - 8/2/2023 | 1,850,000,000 | |
200,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.320%, 8/1/2023 | 200,000,000 | |
150,000,000 | Cooperatieve Rabobank UA, 5.300%, 8/1/2023 | 150,000,000 | |
200,000,000 | Mizuho Bank Ltd., 5.320%, 8/1/2023 | 200,000,000 | |
300,000,000 | Mizuho Bank Ltd., 5.330%, 8/1/2023 | 300,000,000 |
Principal Amount or Shares | Value | ||
TIME DEPOSITS— continued | |||
Finance - Banking— continued | |||
$ 150,000,000 | Northern Trust Co., Chicago, IL, 5.300%, 8/1/2023 | $ 150,000,000 | |
TOTAL | 5,470,000,000 | ||
Sovereign— 4.7% | |||
2,500,000,000 | NRW.Bank, 5.240% - 5.310%, 8/1/2023 - 8/7/2023 | 2,500,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $7,970,000,000) | 7,970,000,000 | ||
3 | COMMERCIAL PAPER— 13.1% | ||
Finance - Banking— 9.6% | |||
1,251,000,000 | Anglesea Funding LLC, 5.044% - 5.452%, 8/1/2023 - 9/25/2023 | 1,249,951,547 | |
77,460,000 | Antalis S.A., (Societe Generale, Paris LIQ), 5.345%, 8/3/2023 | 77,437,020 | |
72,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.499%, 12/5/2023 | 70,654,320 | |
125,000,000 | Bank of Montreal, 5.015%, 10/11/2023 | 125,000,000 | |
375,000,000 | Bank of Montreal, 5.497%, 11/16/2023 | 369,036,979 | |
235,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 222,646,833 | |
195,000,000 | Bennington Stark Capital Co., LLC, (Societe Generale, Paris LIQ), 5.355%, 8/4/2023 | 194,913,063 | |
612,000,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | 582,983,032 | |
100,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 5.394%, 8/31/2023 | 99,552,500 | |
538,375,000 | Citigroup Global Markets, Inc., 5.687% - 5.707%, 11/30/2023 - 12/6/2023 | 528,054,341 | |
184,000,000 | Credit Agricole Corporate and Investment Bank, 5.372%, 8/1/2023 | 184,000,000 | |
277,500,000 | DNB Bank ASA, 5.404%, 11/16/2023 | 273,161,596 | |
34,000,000 | Great Bear Funding LLC, (Bank of Nova Scotia, Toronto COL), 5.305%, 8/2/2023 | 33,994,995 | |
196,000,000 | Longship Funding LLC, 5.285% - 5.326%, 8/2/2023 - 8/7/2023 | 195,897,253 | |
70,000,000 | Nordea Bank Abp, 5.399%, 11/17/2023 | 68,896,450 | |
83,000,000 | Royal Bank of Canada, 4.049%, 8/23/2023 | 82,802,691 | |
179,250,000 | Svenska Handelsbanken, Stockholm, 5.494% - 5.593%, 11/21/2023 - 11/28/2023 | 176,107,210 | |
215,000,000 | Toronto Dominion Bank, 5.350%, 2/6/2024 | 215,000,000 | |
302,000,000 | Toronto Dominion Bank, 5.800%, 5/16/2024 | 288,702,227 | |
TOTAL | 5,038,792,057 | ||
Finance - Retail— 1.5% | |||
618,500,000 | Chariot Funding LLC, 5.261% - 5.548%, 8/14/2023 - 9/26/2023 | 614,801,908 | |
72,500,000 | Old Line Funding, LLC, 5.143%, 11/3/2023 | 71,562,937 | |
67,500,000 | Old Line Funding, LLC, 5.710%, 12/15/2023 | 66,084,750 | |
25,000,000 | Thunder Bay Funding, LLC, 5.404%, 11/17/2023 | 24,605,500 | |
TOTAL | 777,055,095 |
Principal Amount or Shares | Value | ||
3 | COMMERCIAL PAPER— continued | ||
Oil & Oil Finance— 0.5% | |||
$ 282,250,000 | TotalEnergies Capital, 5.023% - 5.703%, 8/1/2023 - 11/27/2023 | $ 281,391,993 | |
Sovereign— 1.5% | |||
735,000,000 | BNG Bank N.V., 5.285% - 5.331%, 8/2/2023 - 8/10/2023 | 734,334,766 | |
70,000,000 | Export Development Canada, (Canada, Government of SUB), 5.203%, 11/9/2023 | 69,027,778 | |
TOTAL | 803,362,544 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $6,900,601,689) | 6,900,601,689 | ||
OTHER REPURCHASE AGREEMENTS— 14.2% | |||
Finance - Banking— 14.2% | |||
20,000,000 | BMO Capital Markets Corp, 5.47%, dated 7/31/2023, interest in a $20,000,000 collateralized loan agreement will repurchase securities provided as collateral for $20,003,039 on 8/1/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term note and U.S. Government Agency securities with a market value of $20,403,428 have been received as collateral and held with BNY Mellon as tri-party agent. | 20,000,000 | |
390,000,000 | BMO Capital Markets Corp, 5.42%, dated 7/31/2023, interest in a $425,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $425,063,986 on 8/1/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes, U.S. Government Agency securities, sovereign debt and treasury notes and with a market value of $433,680,962 have been received as collateral and held with BNY Mellon as tri-party agent. | 390,000,000 | |
675,000,000 | BNP Paribas S.A., 5.40%, dated 7/31/2023, interest in a $1,075,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,075,161,250 on 8/1/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, U.S. Government Agency securities, medium-term notes, sovereign debt and treasury notes with a market value of $1,097,015,812 have been received as collateral and held with BNY Mellon as tri-party agent. | 675,000,000 | |
100,000,000 | BNP Paribas S.A., 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023 in which asset-backed securities and corporate bonds with a market value of $153,023,254 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
1,000,000,000 | Citigroup Global Markets, Inc., 5.43%, dated 7/31/2023, interest in a $1,300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,300,196,083 on 8/1/2023, in which treasury bonds and treasury notes with a market value of $1,326,200,057 have been received as collateral and held with BNY Mellon as tri-party agent. | 1,000,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 650,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 7/6/2023, interest in a $900,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $900,962,500 on 8/10/2023, in which treasury bonds and treasury notes with a market value of $921,505,810 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 650,000,000 | |
225,000,000 | Credit Agricole S.A., 5.37%, dated 4/20/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,044,750 on 8/4/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds and sovereign debt with a market value of $306,045,774 have been received as collateral and held with BNY Mellon as tri-party agent. | 225,000,000 | |
275,000,000 | Credit Agricole S.A., 5.37%, dated 4/21/2023, interest in a $350,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $350,052,208 on 8/4/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $357,053,252 have been received as collateral and held with BNY Mellon as tri-party agent. | 275,000,000 | |
440,000,000 | Credit Agricole S.A., 5.37%, dated 2/17/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,096,958 on 8/4/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $663,098,897 have been received as collateral and held with BNY Mellon as tri-party agent. | 440,000,000 | |
100,000,000 | Credit Agricole S.A., 5.47%, dated 2/17/2023, interest in a $200,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $200,212,722 on 8/10/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $211,172,145 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
235,000,000 | HSBC Securities (USA), Inc, 5.42%, dated 7/31/2023, interest in a $335,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $335,050,436 on 8/1/2023 in which asset-backed securities corporate bonds, medium-term notes and sovereign debt with a market value of $341,700,124 have been received as collateral and held with BNY Mellon as tri-party agent. | 235,000,000 | |
225,000,000 | ING Financial Markets LLC, 5.39%, dated 7/31/2023, interest in a $225,000,000 collateralized loan agreement will repurchase securities provided as collateral for $225,033,688 on 8/1/2023 in which common stocks and exchange traded funds with a market value of $229,534,367 have been received as collateral and held with BNY Mellon as tri-party agent. | 225,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 565,000,000 | J.P. Morgan Securities LLC, 5.57%, dated 7/17/2023, interest in a $750,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $753,481,250 on 8/16/2023, in which corporate bonds with a market value of $765,000,001 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 565,000,000 | |
195,000,000 | Mizuho Securities USA, Inc, 5.76%, dated 2/9/2023, interest in a $200,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $202,016,000 on 9/11/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds and commercial paper with a market value of $204,718,080 have been received as collateral and held with BNY Mellon as tri-party agent. | 195,000,000 | |
200,000,000 | Mizuho Securities USA, Inc, 5.42%, dated 7/31/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,037,639 on 8/1/2023 in which asset-backed securities and corporate bonds with a market value of $255,038,392 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 | |
65,000,000 | Mizuho Securities USA, Inc, 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023 in which common stocks with a market value of $153,023,270 have been received as collateral and held with BNY Mellon as tri-party agent. | 65,000,000 | |
350,000,000 | Mitsubishi UFG Securities Americas Inc, 5.47%, dated 7/31/2023, interest in a $400,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $400,060,778 on 8/1/2023 in which asset-backed securities, corporate bonds, common stocks, commercial paper, exchange-traded funds, mutual funds and unit investment trusts with a market value of $408,062,040 have been received as collateral and held with BNY Mellon as tri-party agent. | 350,000,000 | |
150,000,000 | Pershing LLC, 5.57%, dated 7/14/202, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,324,917 on 8/10/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, convertible bonds, commercial paper, exchange-traded funds, medium-term notes, municipal bonds and mutual funds with a market value of $306,048,424 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
320,000,000 | Societe Generale, Paris, 5.47%, dated 7/31/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,098,764 on 8/1/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,196,426 have been received as collateral and held with BNY Mellon as tri-party agent. | 320,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 325,000,000 | Societe Generale, Paris, 5.38%, dated 7/31/2023, interest in a $450,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $450,067,250 on 8/1/2023 in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $459,069,163 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 325,000,000 | |
50,000,000 | Interest in $150,000,000 joint repurchase agreement 5.38%, dated 7/31/2023 under which Standard Chartered Bank will repurchase securities provided as collateral for $150,022,417 on 8/1/2023. 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 2/20/2053 and the market value of those underlying securities was $153,661,399. | 50,000,000 | |
100,000,000 | Repurchase agreement 5.43%, dated 7/27/2023 under which Standard Chartered Bank will repurchase securities provided as collateral for $100,105,583 on 8/3/2023. 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 12/20/2051 and the market value of those underlying securities was $102,076,964. | 100,000,000 | |
140,000,000 | Wells Fargo Securities LLC, 5.8%, dated 5/17/2023, interest in a $140,000,000 collateralized loan agreement will repurchase securities provided as collateral for $142,030,000 on 10/12/2023 in which asset-backed securities with a market value of $143,214,120 have been received as collateral and held with BNY Mellon as tri-party agent. | 140,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 5.96%, dated 2/3/2022, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $152,235,000 on 10/25/2023 in which convertible bonds with a market value of $153,128,472 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 5.94%, dated 6/16/2023, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $152,227,500 on 9/14/2023 in which convertible bonds with a market value of $154,161,423 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
200,000,000 | Wells Fargo Securities LLC, 5.91%, dated 5/30/2023, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $202,955,000 on 10/3/2023 in which convertible bonds with a market value of $204,904,775 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 220,000,000 | Wells Fargo Securities LLC, 5.94%, dated 1/9/2023, interest in a $220,000,000 collateralized loan agreement will repurchase securities provided as collateral for $223,267,000 on 10/19/2023 in which convertible bonds and certificates of deposit with a market value of $224,808,241 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 220,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $7,515,000,000) | 7,515,000,000 | ||
REPURCHASE AGREEMENTS— 14.2% | |||
Finance - Banking— 14.2% | |||
6,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $6,000,883,333 on 8/1/2023. 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 2/15/2030 and the market value of those underlying securities was $6,000,883,425. | 6,000,000,000 | |
500,000,000 | Interest in $2,300,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $2,300,338,611 on 8/1/2023. 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 9/15/2065 and the market value of those underlying securities was $2,345,460,138. | 500,000,000 | |
978,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Sumitomo Mitsui Banking Corp. will repurchase securities provided as collateral for $3,000,441,667 on 8/1/2023. 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 10/20/2052 and the market value of those underlying securities was $3,060,450,501. | 978,000,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $7,478,000,000) | 7,478,000,000 | ||
INVESTMENT COMPANIES— 2.9% | |||
1,000,016,505 | Federated Hermes Institutional Money Market Management, Institutional Shares, 5.34%4 | 999,713,001 | |
500,317,389 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 5.32%4 | 500,320,089 | |
TOTAL INVESTMENT COMPANIES (IDENTIFIED COST $1,500,033,090) | 1,500,033,090 | ||
TOTAL INVESTMENT IN SECURITIES—98.7% (AT AMORTIZED COST)5 | 52,080,452,155 | ||
OTHER ASSETS AND LIABILITIES - NET—1.3%6 | 707,745,973 | ||
TOTAL NET ASSETS—100% | $52,788,198,128 |
Federated Hermes Institutional Money Market Management, Institutional Shares | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | Total of Affiliated Transactions | |
Value as of 7/31/2022 | $999,713,001 | $500,320,089 | $1,500,033,090 |
Purchases at Cost | $— | $— | $— |
Proceeds from Sales | $— | $— | $— |
Change in Unrealized Appreciation/ Depreciation | $— | $— | $— |
Net Realized Gain/(Loss) | $— | $— | $— |
Value as of 7/31/2023 | $999,713,001 | $500,320,089 | $1,500,033,090 |
Shares Held as of 7/31/2023 | 1,000,016,505 | 500,317,389 | 1,500,333,894 |
Dividend Income | $62,341,800 | $— | $62,341,800 |
1 | 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. |
2 | Denotes a variable rate security with current rate and next reset date shown. |
3 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
4 | 7-day net yield. |
5 | Also represents cost of investments for federal tax purposes. |
6 | 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, 2023, 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: | ||||
Notes - Variable | $— | $12,734,057,561 | $— | $12,734,057,561 |
Certificates of Deposit | — | 7,982,759,815 | — | 7,982,759,815 |
Time Deposits | — | 7,970,000,000 | — | 7,970,000,000 |
Commercial Paper | — | 6,900,601,689 | — | 6,900,601,689 |
Other Repurchase Agreements | — | 7,515,000,000 | — | 7,515,000,000 |
Repurchase Agreements | — | 7,478,000,000 | — | 7,478,000,000 |
Investment Company | 1,500,033,090 | — | — | 1,500,033,090 |
TOTAL SECURITIES | $1,500,033,090 | $50,580,419,065 | $— | $52,080,452,155 |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
SOFR | —Secured Overnight Financing Rate | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.041 | 0.003 | 0.0001 | 0.013 | 0.023 |
Net realized gain (loss) | (0.000)1 | 0.0001 | 0.0001 | 0.0001 | 0.0001 |
TOTAL FROM INVESTMENT OPERATIONS | 0.041 | 0.003 | 0.0001 | 0.013 | 0.023 |
Less Distributions: | |||||
Distributions from net investment income | (0.041) | (0.003) | (0.000)1 | (0.013) | (0.023) |
Distributions from net realized gain | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
TOTAL DISTRIBUTIONS | (0.041) | (0.003) | (0.000)1 | (0.013) | (0.023) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 4.20% | 0.33% | 0.04% | 1.33% | 2.36% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.20% | 0.19% | 0.20% | 0.20% | 0.20% |
Net investment income | 4.42% | 0.36% | 0.04% | 1.33% | 2.36% |
Expense waiver/reimbursement4 | 0.09% | 0.12% | 0.10% | 0.10% | 0.10% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $44,262,167 | $13,928,308 | $11,788,470 | $18,814,127 | $16,862,096 |
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, 2023
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $14,993,000,000 |
Investment in securities, including $1,500,033,090 of investment in affiliated holdings* | 37,087,452,155 |
Investment in securities, at amortized cost and fair value | 52,080,452,155 |
Cash | 464,886,587 |
Income receivable | 153,254,112 |
Income receivable from affiliated holdings | 6,654,651 |
Receivable for shares sold | 239,923,910 |
Total Assets | 52,945,171,415 |
Liabilities: | |
Payable for investments purchased | 6,100,000 |
Payable for shares redeemed | 140,093,262 |
Income distribution payable | 6,879,979 |
Payable for investment adviser fee (Note 5) | 147,271 |
Payable for administrative fee (Note 5) | 111,984 |
Payable for distribution services fee (Note 5) | 376,895 |
Payable for other service fees (Notes 2 and 5) | 1,192,889 |
Accrued expenses (Note 5) | 2,071,007 |
Total Liabilities | 156,973,287 |
Net assets for 52,791,772,191 shares outstanding | $52,788,198,128 |
Net Assets Consist of: | |
Paid-in capital | $52,791,763,375 |
Total distributable earnings (loss) | (3,565,247) |
Total Net Assets | $52,788,198,128 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$536,770,609 ÷ 536,806,937 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Class R Shares: | |
$48,737,214 ÷ 48,740,522 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Wealth Shares: | |
$44,262,167,235 ÷ 44,265,164,249 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$3,288,900,706 ÷ 3,289,122,934 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$2,868,423,748 ÷ 2,868,617,940 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$1,061,639,862 ÷ 1,061,711,890 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$72,195,058 ÷ 72,199,959 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$600,915,118 ÷ 600,955,891 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$48,448,578 ÷ 48,451,869 shares outstanding, no par value, unlimited shares authorized | $1.00 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31, 2023
Investment Income: | |
Interest | $1,616,536,625 |
Dividends received from affiliated holdings* | 62,341,800 |
TOTAL INCOME | 1,678,878,425 |
Expenses: | |
Investment adviser fee (Note 5) | 71,539,477 |
Administrative fee (Note 5) | 28,540,514 |
Custodian fees | 1,104,719 |
Transfer agent fees (Note 2) | 2,183,534 |
Directors’/Trustees’ fees (Note 5) | 151,001 |
Auditing fees | 25,159 |
Legal fees | 11,617 |
Portfolio accounting fees | 267,884 |
Distribution services fee (Note 5) | 4,521,588 |
Other service fees (Notes 2 and 5) | 10,329,986 |
Share registration costs | 2,515,451 |
Printing and postage | 649,512 |
Miscellaneous (Note 5) | 175,437 |
TOTAL EXPENSES | 122,015,879 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (33,104,910) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (86,491) |
TOTAL WAIVERS AND REIMBURSEMENTS | (33,191,401) |
Net expenses | 88,824,478 |
Net investment income | 1,590,053,947 |
Net realized loss on investments | (3,561,476) |
Change in net assets resulting from operations | $1,586,492,471 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $1,590,053,947 | $53,190,187 |
Net realized gain (loss) | (3,561,476) | 143,440 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 1,586,492,471 | 53,333,627 |
Distributions to Shareholders: | ||
Automated Shares | (24,227,826) | (2,585,791) |
Class R Shares | (1,415,396) | (33,725) |
Wealth Shares | (1,314,807,011) | (39,560,633) |
Advisor Shares | (105,829,942) | (2,214,414) |
Service Shares | (82,982,235) | (3,354,482) |
Cash II Shares | (37,391,710) | (1,568,320) |
Cash Series Shares | (1,786,237) | (37,265) |
Capital Shares | (20,426,106) | (832,858) |
Trust Shares | (1,355,868) | (2,998,443) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (1,590,222,331) | (53,185,931) |
Share Transactions: | ||
Proceeds from sale of shares | 77,865,463,389 | 19,988,592,929 |
Net asset value of shares issued to shareholders in payment of distributions declared | 1,518,646,831 | 49,057,880 |
Cost of shares redeemed | (45,452,793,697) | (20,256,811,128) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 33,931,316,523 | (219,160,319) |
Change in net assets | 33,927,586,663 | (219,012,623) |
Net Assets: | ||
Beginning of period | 18,860,611,465 | 19,079,624,088 |
End of period | $52,788,198,128 | $18,860,611,465 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Automated Shares | $397,859 | $— |
Class R Shares | 104,479 | (2,153) |
Wealth Shares | 420,937 | (56) |
Advisor Shares | 34,536 | — |
Service Shares | 31,745 | — |
Cash II Shares | 1,139,299 | (9,654) |
Cash Series Shares | 46,469 | (996) |
Capital Shares | 7,737 | — |
Trust Shares | 473 | (2) |
TOTAL | $2,183,534 | $(12,861) |
Other Service Fees Incurred | |
Automated Shares | $1,638,118 |
Class R Shares | 107,699 |
Service Shares | 5,100,847 |
Cash II Shares | 2,787,404 |
Cash Series Shares | 129,237 |
Capital Shares | 486,227 |
Trust Shares | 80,454 |
TOTAL | $10,329,986 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 877,004,828 | $877,004,828 | 1,528,635,804 | $1,528,635,804 |
Shares issued to shareholders in payment of distributions declared | 23,720,180 | 23,720,180 | 2,577,947 | 2,577,947 |
Shares redeemed | (1,075,804,759) | (1,075,804,759) | (1,854,156,282) | (1,854,156,282) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | (175,079,751) | $(175,079,751) | (322,942,531) | $(322,942,531) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Class R Shares: | Shares | Amount | Shares | Amount |
Shares sold | 34,129,153 | $34,129,153 | 17,000,468 | $17,000,468 |
Shares issued to shareholders in payment of distributions declared | 1,409,332 | 1,409,332 | 33,614 | 33,614 |
Shares redeemed | (28,042,086) | (28,042,086) | (14,551,648) | (14,551,648) |
NET CHANGE RESULTING FROM CLASS R SHARE TRANSACTIONS | 7,496,399 | $7,496,399 | 2,482,434 | $2,482,434 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | 64,964,614,365 | $64,964,614,365 | 13,906,013,345 | $13,906,013,345 |
Shares issued to shareholders in payment of distributions declared | 1,250,686,292 | 1,250,686,292 | 35,833,910 | 35,833,910 |
Shares redeemed | (35,878,329,216) | (35,878,329,216) | (11,802,119,110) | (11,802,119,110) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | 30,336,971,441 | $30,336,971,441 | 2,139,728,145 | $2,139,728,145 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Advisor Shares: | Shares | Amount | Shares | Amount |
Shares sold | 6,152,436,887 | $6,152,436,887 | 1,349,386,951 | $1,349,386,951 |
Shares issued to shareholders in payment of distributions declared | 105,829,739 | 105,829,739 | 2,214,267 | 2,214,267 |
Shares redeemed | (3,995,611,046) | (3,995,611,046) | (513,054,969) | (513,054,969) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | 2,262,655,580 | $2,262,655,580 | 838,546,249 | $838,546,249 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 4,235,413,542 | $4,235,413,542 | 1,344,417,523 | $1,344,417,523 |
Shares issued to shareholders in payment of distributions declared | 78,436,333 | 78,436,333 | 3,061,138 | 3,061,138 |
Shares redeemed | (2,924,931,444) | (2,924,931,444) | (1,579,139,032) | (1,579,139,032) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 1,388,918,431 | $1,388,918,431 | (231,660,371) | $(231,660,371) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 495,313,546 | $495,313,546 | 610,894,665 | $610,894,665 |
Shares issued to shareholders in payment of distributions declared | 36,553,414 | 36,553,414 | 1,557,950 | 1,557,950 |
Shares redeemed | (771,694,021) | (771,694,021) | (586,846,085) | (586,846,085) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | (239,827,061) | $(239,827,061) | 25,606,530 | $25,606,530 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 128,212,272 | $128,212,272 | 61,276,990 | $61,276,990 |
Shares issued to shareholders in payment of distributions declared | 1,736,731 | 1,736,731 | 36,978 | 36,978 |
Shares redeemed | (100,031,296) | (100,031,296) | (61,108,129) | (61,108,129) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 29,917,707 | $29,917,707 | 205,839 | $205,839 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 873,403,036 | $873,403,036 | 299,364,846 | $299,364,846 |
Shares issued to shareholders in payment of distributions declared | 18,933,076 | 18,933,076 | 743,705 | 743,705 |
Shares redeemed | (602,352,249) | (602,352,249) | (318,414,947) | (318,414,947) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 289,983,863 | $289,983,863 | (18,306,396) | $(18,306,396) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 104,935,760 | $104,935,760 | 871,602,337 | $871,602,337 |
Shares issued to shareholders in payment of distributions declared | 1,341,734 | 1,341,734 | 2,998,371 | 2,998,371 |
Shares redeemed | (75,997,580) | (75,997,580) | (3,527,420,926) | (3,527,420,926) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | 30,279,914 | $30,279,914 | (2,652,820,218) | $(2,652,820,218) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 33,931,316,523 | $33,931,316,523 | (219,160,319) | $(219,160,319) |
2023 | 2022 | |
Ordinary income | $1,590,158,584 | $53,185,931 |
Long-term capital gains | $63,747 | $— |
Distributions payable | $(3,771) |
Capital loss carryforwards | $(3,561,476) |
TOTAL | $(3,565,247) |
Short-Term | Long-Term | Total |
$3,561,476 | $— | $3,561,476 |
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 | $219,356 | $(21,935) |
Cash II Shares | 3,906,604 | — |
Cash Series Shares | 310,168 | (51,695) |
Trust Shares | 85,460 | — |
TOTAL | $4,521,588 | $(73,630) |
September 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period | |
Actual | $1,000.00 | $1,024.70 | $1.00 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,023.80 | $1.00 |
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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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 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 |
Other Repurchase Agreements and Repurchase Agreements | 31.1% |
Variable Rate Instruments | 28.7% |
Bank Instruments | 23.4% |
Commercial Paper | 17.5% |
Other Assets and Liabilities—Net2 | (0.7)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of 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 | 75.6% |
8-30 Days | 3.8% |
31-90 Days | 5.8% |
91-180 Days | 9.0% |
181 Days or more | 6.5% |
Other Assets and Liabilities—Net3 | (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 | Overnight securities comprised 31.6% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— 28.7% | ||
Finance - Banking— 25.4% | |||
$ 50,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | $ 49,958,101 | |
71,000,000 | Bank of Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 70,927,032 | |
69,500,000 | Bank of Montreal, 5.750% (SOFR +0.450%), 8/1/2023 | 69,531,344 | |
55,000,000 | Bank of Montreal, 5.900% (SOFR +0.600%), 8/1/2023 | 55,014,473 | |
40,000,000 | Bank of Montreal, 5.980% (SOFR +0.680%), 8/1/2023 | 40,047,572 | |
60,000,000 | Bank of Montreal, 6.000% (SOFR +0.700%), 8/1/2023 | 60,000,000 | |
25,000,000 | Bank of Nova Scotia, Toronto, 5.610% (SOFR +0.310%), 8/1/2023 | 24,978,121 | |
73,000,000 | Bank of Nova Scotia, Toronto, 5.680% (SOFR +0.380%), 8/1/2023 | 72,978,042 | |
10,000,000 | Bank of Nova Scotia, Toronto, 5.710% (SOFR +0.410%), 8/1/2023 | 9,999,505 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.740% (SOFR +0.440%), 8/1/2023 | 50,017,279 | |
35,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 35,000,000 | |
43,500,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 43,500,000 | |
20,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 20,000,000 | |
23,500,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 23,520,496 | |
22,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 22,000,000 | |
10,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 10,000,000 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 50,055,847 | |
100,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 100,081,760 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.950% (SOFR +0.650%), 8/1/2023 | 50,016,577 | |
100,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.660%), 8/1/2023 | 100,100,252 |
30,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.450% (SOFR +0.150%), 8/1/2023 | 30,000,000 | |
30,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.620% (SOFR +0.320%), 8/1/2023 | 30,000,000 | |
95,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.700% (SOFR +0.400%), 8/1/2023 | 95,000,009 | |
70,000,000 | BPCE S.A., 5.630% (SOFR +0.330%), 8/1/2023 | 70,000,000 | |
69,500,000 | Canadian Imperial Bank of Commerce, 5.760% (SOFR +0.460%), 8/1/2023 | 69,539,523 | |
175,000,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 175,283,855 | |
75,000,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 75,123,367 | |
9,900,000 | City Furniture, Inc., (Wells Fargo Bank, N.A. LOC), 5.440%, 8/3/2023 | 9,900,000 | |
25,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.760% (SOFR +0.460%), 8/1/2023 | 25,001,304 | |
50,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 50,000,274 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 125,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.830% (SOFR +0.530%), 8/1/2023 | $ 125,013,781 | |
30,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.520% (SOFR +0.220%), 8/1/2023 | 30,000,000 | |
45,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.530% (SOFR +0.230%), 8/1/2023 | 45,000,000 | |
20,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 20,000,109 | |
16,700,000 | Greene County Development Authority, Reynolds Lodge, LLC, Series 2000B, (U.S. Bank, N.A. LOC), 5.200%, 8/2/2023 | 16,700,000 | |
7,595,000 | Gulf Gate Apartments LLC, Series 2003, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 7,595,000 | |
11,180,000 | Hamilton Station Park and Ride, Series 2005, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 11,180,000 | |
60,000,000 | ING (U.S.) Funding LLC, 5.460% (SOFR +0.150%), 8/1/2023 | 60,000,000 | |
40,000,000 | Iowa Student Loan Liquidity Corp., Series 2023-1, Weekly VRDNs, (Royal Bank of Canada LOC), 5.370%, 8/3/2023 | 40,000,000 | |
24,345,000 | Matchpoint Finance PLC, (BNP Paribas S.A. LIQ), 5.610% (SOFR +0.310%), 8/1/2023 | 24,345,648 | |
10,000,000 | Mizuho Bank Ltd., 5.690% (SOFR +0.380%), 8/1/2023 | 10,000,000 | |
50,000,000 | National Australia Bank Ltd., Melbourne, 5.510% (SOFR +0.210%), 8/1/2023 | 49,996,607 | |
67,500,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 67,452,494 | |
70,000,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 69,948,389 | |
22,500,000 | National Australia Bank Ltd., Melbourne, 5.840% (SOFR +0.540%), 8/1/2023 | 22,519,841 | |
96,500,000 | National Australia Bank Ltd., Melbourne, 5.860% (SOFR +0.560%), 8/1/2023 | 96,500,000 | |
75,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 74,921,895 | |
70,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 69,925,416 | |
125,000,000 | Nordea Bank Abp, 5.720% (SOFR +0.420%), 8/1/2023 | 125,000,000 | |
34,000,000 | Nuveen Floating Rate Income Fund, Series A, (Sumitomo Mitsui Banking Corp. LOC), 5.500%, 8/3/2023 | 34,000,000 | |
2,415,000 | Public Building Corp. Springfield, MO, Jordan Valley Ice Park, Series 2003, (U.S. Bank, N.A. LOC), 5.400%, 8/3/2023 | 2,415,000 | |
50,000,000 | Ridgefield Funding Co. LLC, Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | 49,999,955 | |
50,000,000 | 2 | Ridgefield Funding Co. LLC, Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | 49,998,713 |
35,000,000 | Royal Bank of Canada, New York Branch, 5.870% (SOFR +0.570%), 8/1/2023 | 35,000,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 95,000,000 | Royal Bank of Canada, New York Branch, 5.880% (SOFR +0.580%), 8/1/2023 | $ 95,000,000 | |
70,000,000 | Royal Bank of Canada, New York Branch, 5.900% (SOFR +0.600%), 8/1/2023 | 70,038,734 | |
18,965,000 | Salem Green, LLLP, Salem Green Apartments Project, Series 2010, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 18,965,000 | |
120,000,000 | State Street Bank and Trust Co., 5.460% (SOFR +0.150%), 8/1/2023 | 120,000,000 | |
12,000,000 | Sumitomo Mitsui Banking Corp., 5.680% (SOFR +0.380%), 8/1/2023 | 12,000,000 | |
200,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.590% (SOFR +0.290%), 8/1/2023 | 200,000,000 | |
100,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.610% (SOFR +0.310%), 8/1/2023 | 100,017,437 | |
25,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.680% (SOFR +0.380%), 8/1/2023 | 25,000,000 | |
125,000,000 | Svenska Handelsbanken, Stockholm, 5.460% (SOFR +0.150%), 8/1/2023 | 125,000,000 | |
30,000,000 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 30,012,600 | |
75,000,000 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 75,032,188 | |
110,000,000 | Svenska Handelsbanken, Stockholm, 5.730% (SOFR +0.420%), 8/1/2023 | 110,000,000 | |
65,000,000 | Svenska Handelsbanken, Stockholm, 5.760% (SOFR +0.450%), 8/1/2023 | 65,029,053 | |
100,699,637 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 5.720%, 8/1/2023 | 100,699,637 | |
2,881,821 | Taxable Tender Option Bond Trust 2021-MIZ9077TX, (Series 2021-MIZ9077TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.590%, 8/1/2023 | 2,881,821 | |
2,207,606 | Taxable Tender Option Bond Trust 2021-MIZ9078TX, (Series 2021-MIZ9078TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.590%, 8/1/2023 | 2,207,606 | |
75,000,000 | Toronto Dominion Bank, 5.810% (SOFR +0.500%), 8/1/2023 | 75,045,369 | |
17,500,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 17,500,000 | |
27,500,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 27,524,709 | |
50,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 8/1/2023 | 50,053,312 | |
147,500,000 | Wells Fargo Bank, N.A., 5.750% (SOFR +0.450%), 8/1/2023 | 147,575,824 | |
200,000,000 | Wells Fargo Bank, N.A., 5.900% (SOFR +0.600%), 8/1/2023 | 199,960,818 | |
30,000,000 | Wells Fargo Bank, N.A., 5.950% (SOFR +0.650%), 8/1/2023 | 30,013,919 | |
45,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 45,000,000 | |
22,500,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 22,500,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 5,870,000 | Yeshivas Novominsk, Series 2008, (TD Bank, N.A. LOC), 5.450%, 8/3/2023 | $ 5,870,000 | |
TOTAL | 4,498,015,608 | ||
Finance - Retail— 1.8% | |||
25,000,000 | Fairway Finance Co. LLC, 5.470% (SOFR +0.170%), 8/1/2023 | 25,000,000 | |
50,000,000 | Fairway Finance Co. LLC, 5.780% (SOFR +0.480%), 8/1/2023 | 50,027,282 | |
20,000,000 | Old Line Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 19,999,763 | |
10,000,000 | Old Line Funding, LLC, 5.650% (SOFR +0.340%), 8/1/2023 | 9,999,202 | |
39,000,000 | Sheffield Receivables Co. LLC, 5.620% (SOFR +0.320%), 8/1/2023 | 39,000,000 | |
100,000,000 | Thunder Bay Funding, LLC, 5.500% (SOFR +0.440%), 8/1/2023 | 100,000,000 | |
10,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 9,996,393 | |
25,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 24,999,083 | |
30,000,000 | Thunder Bay Funding, LLC, 5.830% (SOFR +0.520%), 8/1/2023 | 30,005,483 | |
TOTAL | 309,027,206 | ||
Government Agency— 1.5% | |||
15,535,000 | 1320 W Jefferson LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 15,535,000 | |
51,450,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 51,450,000 | |
6,830,000 | Baker Life Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,830,000 | |
34,645,000 | BWF Forge TL Properties Owner LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 34,645,000 | |
2,000,000 | Carmel Valley Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 2,000,000 | |
5,705,000 | Catania Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,705,000 | |
1,900,000 | CP Canyons WFH, LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 1,900,000 | |
4,270,000 | Jim Brooks Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 4,270,000 | |
11,570,000 | Joseph L. Goggins Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 11,570,000 | |
3,655,000 | Karyn Brooks Descendants Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 3,655,000 | |
6,380,000 | MHF DKF Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 6,380,000 | |
17,030,000 | Mohr Green Associates, LP, Series 2012-A, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 17,030,000 | |
22,610,000 | NWD 2017 Family Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 22,610,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 9,080,000 | Park Stanton Place, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | $ 9,080,000 | |
8,000,000 | Plaza Fitzsimons Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 8,000,000 | |
5,010,000 | R.J. Brooks Jr. Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 5,010,000 | |
6,980,000 | RK Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 6,980,000 | |
3,500,000 | Rohnert Park 668, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 3,500,000 | |
6,255,000 | Sibley Family Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,255,000 | |
6,610,000 | The CLC Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,610,000 | |
5,120,000 | The Eugene Kim Irrevocable Life Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,120,000 | |
22,830,000 | The Gregory P. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/2/2023 | 22,830,000 | |
5,740,000 | The Leopold Family Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,740,000 | |
5,975,000 | The Thompson 2018 Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 5,975,000 | |
TOTAL | 268,680,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $5,074,939,667) | 5,075,722,814 | ||
3 | COMMERCIAL PAPER— 17.5% | ||
Finance - Banking— 11.6% | |||
275,000,000 | Anglesea Funding LLC, 5.044% - 5.346%, 8/1/2023 - 8/7/2023 | 274,903,639 | |
25,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.499%, 12/5/2023 | 24,523,927 | |
119,500,000 | Bank of Montreal, 5.497%, 11/16/2023 | 117,548,326 | |
75,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 71,098,350 | |
375,000,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | 357,095,695 | |
100,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 5.394%, 8/31/2023 | 99,552,500 | |
210,000,000 | Citigroup Global Markets, Inc., 5.687% - 5.707%, 11/30/2023 - 12/6/2023 | 205,910,339 | |
60,000,000 | Credit Agricole Corporate and Investment Bank, 5.372%, 8/1/2023 | 60,000,000 | |
85,000,000 | DNB Bank ASA, 5.404%, 11/16/2023 | 83,625,040 | |
110,017,000 | Ridgefield Funding Co. LLC Series A, (BNP Paribas SA COL), 5.320%, 8/1/2023 | 110,017,000 | |
64,500,000 | Royal Bank of Canada, 4.049%, 8/23/2023 | 64,281,019 |
Principal Amount | Value | ||
3 | COMMERCIAL PAPER— continued | ||
Finance - Banking— continued | |||
$ 206,500,000 | Svenska Handelsbanken, Stockholm, 5.494% - 5.593%, 11/21/2023 - 11/28/2023 | $ 202,919,020 | |
80,000,000 | Toronto Dominion Bank, 5.350%, 2/6/2024 | 79,853,621 | |
60,000,000 | Toronto Dominion Bank, 5.800%, 5/16/2024 | 57,278,350 | |
250,000,000 | Victory Receivables Corp., (MUFG Bank Ltd. LIQ), 5.468%, 9/22/2023 | 248,042,778 | |
TOTAL | 2,056,649,604 | ||
Finance - Retail— 2.6% | |||
50,000,000 | Barton Capital SA, 5.449%, 8/4/2023 | 49,977,500 | |
329,500,000 | Chariot Funding LLC, 5.261% - 5.590%, 8/14/2023 - 11/1/2023 | 326,357,841 | |
40,000,000 | Old Line Funding, LLC, 5.143%, 11/3/2023 | 39,422,611 | |
30,000,000 | Old Line Funding, LLC, 5.710%, 12/15/2023 | 29,359,639 | |
12,500,000 | Thunder Bay Funding, LLC, 5.404%, 11/17/2023 | 12,292,105 | |
TOTAL | 457,409,696 | ||
Insurance— 1.0% | |||
175,000,000 | UnitedHealth Group, Inc., 5.333%, 8/1/2023 | 175,000,000 | |
Oil & Oil Finance— 1.2% | |||
220,000,000 | TotalEnergies Capital, 5.023% - 5.703%, 8/1/2023 - 11/27/2023 | 219,630,439 | |
Sovereign— 1.1% | |||
155,000,000 | BNG Bank N.V., 5.315% - 5.331%, 8/7/2023 - 8/10/2023 | 154,807,200 | |
30,000,000 | Export Development Canada, (Canada, Government of SUB), 5.203%, 11/9/2023 | 29,548,866 | |
TOTAL | 184,356,066 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $3,093,957,907) | 3,093,045,805 | ||
CERTIFICATES OF DEPOSIT— 13.6% | |||
Finance - Banking— 13.6% | |||
40,000,000 | Bank of America N.A., 5.440%, 2/7/2024 | 39,890,900 | |
37,500,000 | Bank of America N.A., 5.830%, 6/17/2024 | 37,450,594 | |
165,000,000 | Bank of Montreal, 5.470% - 5.820%, 1/8/2024 - 5/28/2024 | 164,739,281 | |
60,000,000 | Bank of Nova Scotia, Toronto, 5.400% - 5.410%, 11/15/2023 - 11/17/2023 | 59,966,417 | |
45,000,000 | BMO Harris Bank, N.A., 5.730%, 12/13/2023 | 45,010,935 | |
155,000,000 | Canadian Imperial Bank of Commerce, 5.250% - 5.800%, 2/5/2024 - 6/13/2024 | 154,783,983 | |
260,000,000 | Credit Agricole Corporate and Investment Bank, 5.250% - 5.390%, 8/1/2023 - 8/3/2023 | 260,000,000 | |
189,500,000 | DNB Bank ASA, 5.450%, 11/22/2023 | 189,432,557 | |
50,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.400%, 11/17/2023 | 49,966,088 | |
402,500,000 | Mizuho Bank Ltd., 5.380% - 5.420%, 8/15/2023 - 9/1/2023 | 402,500,000 | |
95,000,000 | MUFG Bank Ltd., 5.550%, 9/12/2023 | 95,000,000 |
Principal Amount | Value | ||
CERTIFICATES OF DEPOSIT— continued | |||
Finance - Banking— continued | |||
$ 95,000,000 | Nordea Bank Abp, 5.400%, 11/20/2023 | $ 94,939,695 | |
502,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.240% - 5.600%, 8/1/2023 - 11/3/2023 | 502,008,630 | |
70,000,000 | Toronto Dominion Bank, 5.200%, 2/2/2024 | 69,767,893 | |
70,000,000 | Toronto Dominion Bank, 5.250%, 1/25/2024 | 69,796,473 | |
165,000,000 | Toronto Dominion Bank, 5.440% - 6.050%, 2/13/2024 - 7/10/2024 | 165,009,620 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $2,401,500,000) | 2,400,263,066 | ||
TIME DEPOSITS— 9.8% | |||
Finance - Banking— 7.3% | |||
895,000,000 | ABN Amro Bank NV, 5.260% - 5.330%, 8/1/2023 - 8/4/2023 | 895,000,000 | |
200,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.250%, 8/1/2023 | 200,000,000 | |
200,000,000 | Mizuho Bank Ltd., 5.330%, 8/1/2023 | 200,000,000 | |
TOTAL | 1,295,000,000 | ||
Sovereign— 2.5% | |||
450,000,000 | NRW.Bank, 5.275% - 5.310%, 8/2/2023 - 8/7/2023 | 450,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $1,745,000,000) | 1,745,000,000 | ||
OTHER REPURCHASE AGREEMENTS— 22.1% | |||
Finance - Banking— 22.1% | |||
25,000,000 | BMO Capital Markets Corp., 5.42%, dated 7/31/2023, interest in a $425,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $425,063,986 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, U.S. Government Agency securities, medium-term notes, sovereign debt and treasury notes with a market value of $433,680,962 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
359,701,000 | BNP Paribas S.A., 5.40%, dated 7/31/2023, interest in a $1,075,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,075,161,250 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, U.S. Government Agency securities, medium-term notes, sovereign debt and treasury notes with a market value of $1,097,015,812 have been received as collateral and held with BNY Mellon as tri-party agent. | 359,701,000 | |
50,000,000 | BNP Paribas S.A., 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023, in which asset-backed securities and corporate bonds with a market value of $153,023,254 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 100,000,000 | BofA Securities, Inc., 5.94%, dated 9/4/2020, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $101,485,000 on 11/1/2023, in which American depositary receipts, convertible bonds, exchange-traded funds and medium-term notes with a market value of $102,470,306 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 100,000,000 | |
115,000,000 | BofA Securities, Inc., 5.35%, dated 7/31/2023, interest in a $125,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $125,018,576 on 8/1/2023, in which commercial paper with a market value of $127,518,948 has been received as collateral and held with BNY Mellon as tri-party agent. | 115,000,000 | |
150,000,000 | BofA Securities, Inc., 5.41%, dated 12/13/2022, interest in a $165,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $165,173,571 on 8/10/2023, in which corporate bonds with a market value of $168,325,895 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
200,000,000 | BofA Securities, Inc., 5.85%, dated 12/6/2022, interest in a $225,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $226,279,688 on 9/7/2023, in which asset-backed securities, collateralized mortgage obligations, commercial paper and municipal bonds with a market value of $229,537,294 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 | |
250,000,000 | BofA Securities, Inc., 5.94%, dated 9/9/2020, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $253,712,500 on 11/1/2023, in which American depositary receipts, convertible bonds and medium-term notes with a market value of $256,175,764 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
300,000,000 | Citigroup Global Markets, Inc., 5.43%, dated 7/31/2023, interest in a $1,300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,300,196,083 on 8/1/2023, in which treasury bonds and treasury notes with a market value of $1,326,200,057 have been received as collateral and held with BNY Mellon as tri-party agent. | 300,000,000 | |
235,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 7/6/2023, interest in a $900,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $900,962,500 on 8/10/2023, in which treasury bonds with a market value of $921,505,810 have been received as collateral and held with BNY Mellon as tri-party agent. | 235,000,000 | |
75,000,000 | Credit Agricole S.A., 5.37%, dated 4/20/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,044,750 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and sovereign debt with a market value of $306,045,774 have been received as collateral and held with BNY Mellon as tri-party agent. | 75,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 75,000,000 | Credit Agricole S.A., 5.37%, dated 4/21/2023, interest in a $350,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $350,052,208 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $357,053,252 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 75,000,000 | |
210,000,000 | Credit Agricole S.A., 5.37%, dated 2/17/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,096,958 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $663,098,897 have been received as collateral and held with BNY Mellon as tri-party agent. | 210,000,000 | |
65,000,000 | Credit Agricole S.A., 5.47%, dated 2/17/2023, interest in a $200,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $200,212,722 on 8/10/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $211,172,145 have been received as collateral and held with BNY Mellon as tri-party agent. | 65,000,000 | |
50,000,000 | HSBC Securities (USA), Inc., 5.42%, dated 7/31/2023, interest in a $310,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $310,046,672 on 8/1/2023, in which corporate bonds, medium-term notes and sovereign debt with a market value of $316,200,000 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
120,701,000 | ING Financial Markets LLC, 5.39%, dated 7/31/2023, interest in a $125,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $125,018,715 on 8/1/2023, in which corporate bonds, medium-term notes and U.S. Government Agency securities with a market value of $127,519,090 have been received as collateral and held with BNY Mellon as tri-party agent. | 120,701,000 | |
175,000,000 | J.P. Morgan Securities LLC, 5.57%, dated 7/17/2023, interest in a $750,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $753,481,250 on 8/16/2023, in which corporate bonds with a market value of $765,000,001 have been received as collateral and held with BNY Mellon as tri-party agent. | 175,000,000 | |
50,000,000 | Mizuho Securities USA LLC, 5.42%, dated 7/31/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,037,639 on 8/1/2023, in which asset-backed securities and corporate bonds with a market value of $255,038,392 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
85,000,000 | Mizuho Securities USA LLC, 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023, in which common stocks with a market value of $153,023,270 have been received as collateral and held with BNY Mellon as tri-party agent. | 85,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 34,701,000 | Mitsubishi UFG Securities Americas, Inc., 5.47%, dated 7/31/2023, interest in a $400,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $400,060,778 on 8/1/2023, in which asset-backed securities, common stocks, commercial paper, corporate bonds, exchange-traded funds, mutual funds and a unit investment trust with a market value of $408,062,040 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 34,701,000 | |
500,000,000 | Mitsubishi UFG Securities Americas, Inc., 5.30%, dated 7/31/2023, interest in a $1,650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,650,242,917 on 8/1/2023, in which U.S. Government Agency securities with a market value of $1,689,159,558 have been received as collateral and held with BNY Mellon as tri-party agent. | 500,000,000 | |
135,000,000 | Pershing LLC, 5.57%, dated 7/14/2022, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,324,917 on 8/10/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, commercial paper, common stocks, convertible bonds, exchange-traded funds, medium-term notes, municipal bonds, mutual funds and U.S. Government Agency securities with a market value of $306,048,424 have been received as collateral and held with BNY Mellon as tri-party agent. | 135,000,000 | |
125,000,000 | Societe Generale, Paris, 5.38%, dated 7/31/2023, interest in a $450,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $450,067,250 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $459,069,163 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
301,701,000 | Societe Generale, Paris, 5.47%, dated 7/31/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,098,764 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,196,426 have been received as collateral and held with BNY Mellon as tri-party agent. | 301,701,000 | |
125,000,000 | Wells Fargo Securities LLC, 5.96%, dated 2/3/2022, interest in a $125,000,000 collateralized loan agreement will repurchase securities provided as collateral for $126,862,500 on 10/25/2023, in which convertible bonds with a market value of $127,607,153 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $3,911,804,000) | 3,911,804,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— 9.0% | |||
Finance - Banking— 9.0% | |||
$1,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $1,000,147,222 on 8/1/2023. 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 2/15/2031 and the market value of those underlying securities was $1,000,147,277. | $ 1,000,000,000 | |
85,701,000 | Interest in $150,000,000 joint repurchase agreement 5.38%, dated 7/31/2023 under which Standard Chartered Bank will repurchase securities provided as collateral for $150,022,417 on 8/1/2023. 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 2/20/2053 and the market value of those underlying securities was $153,661,399. | 85,701,000 | |
513,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,441,667 on 8/1/2023. 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 10/20/2052 and the market value of those underlying securities was $3,060,450,501. | 513,000,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $1,598,701,000) | 1,598,701,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.7% (IDENTIFIED COST $17,825,902,574)4 | 17,824,536,685 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.7)%5 | (120,601,475) | ||
TOTAL NET ASSETS—100% | $17,703,935,210 |
1 | 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. |
2 | Denotes a restricted security that either: (a) cannot be offered for public sale without first being registered, or availing of an exemption from registration, under the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At July 31, 2023, these restricted securities amounted to $150,098,965, which represented 0.9% of total net assets. |
3 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
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 acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MHF | ���Maryland Housing Fund | |
SOFR | —Secured Overnight Financing Rate | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9998 | $1.0005 | $1.0007 | $1.0004 | $1.0003 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.04131 | 0.00371 | 0.0008 | 0.0136 | 0.0239 |
Net realized and unrealized gain (loss) | 0.0004 | (0.0008) | (0.0002) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0417 | 0.0029 | 0.0006 | 0.0139 | 0.0240 |
Less Distributions: | |||||
Distributions from net investment income | (0.0413) | (0.0036) | (0.0008) | (0.0136) | (0.0239) |
Net Asset Value, End of Period | $1.0002 | $0.9998 | $1.0005 | $1.0007 | $1.0004 |
Total Return2 | 4.25% | 0.29% | 0.05% | 1.39% | 2.43% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.18% | 0.16% | 0.15% | 0.15% | 0.15% |
Net investment income | 4.17% | 0.38% | 0.08% | 1.37% | 2.41% |
Expense waiver/reimbursement4 | 0.10% | 0.12% | 0.13% | 0.13% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $17,694,479 | $14,232,133 | $15,298,656 | $23,611,390 | $21,146,776 |
1 | Per share numbers have been calculated using the average shares method. |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9997 | $1.0005 | $1.0007 | $1.0004 | $1.0002 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.03891 | 0.00191 | 0.0001 | 0.0112 | 0.0218 |
Net realized and unrealized gain (loss) | 0.0003 | (0.0002) | (0.0002) | 0.0003 | 0.0002 |
Total From Investment Operations | 0.0392 | 0.0017 | (0.0001) | 0.0115 | 0.0220 |
Less Distributions: | |||||
Distributions from net investment income | (0.0388) | (0.0025) | (0.0001) | (0.0112) | (0.0218) |
Net Asset Value, End of Period | $1.0001 | $0.9997 | $1.0005 | $1.0007 | $1.0004 |
Total Return2 | 3.99% | 0.17% | (0.01)% | 1.15% | 2.22% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.43% | 0.26% | 0.24% | 0.40% | 0.37% |
Net investment income | 3.82% | 0.18% | 0.01% | 1.22% | 2.21% |
Expense waiver/reimbursement4 | 0.10% | 0.25% | 0.28% | 0.13% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $9,456 | $12,713 | $32,413 | $83,818 | $93,979 |
1 | Per share numbers have been calculated using the average shares method. |
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, | |||||
20231 | 20221 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.0012 | $1.0005 | $1.0008 | $1.0004 | $1.0002 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.04082 | 0.00012 | 0.0006 | 0.0131 | 0.0234 |
Net realized and unrealized gain (loss) | (0.0002) | 0.0038 | (0.0005) | 0.0004 | 0.0002 |
Total From Investment Operations | 0.0406 | 0.0039 | 0.0001 | 0.0135 | 0.0236 |
Less Distributions: | |||||
Distributions from net investment income | (0.0408) | (0.0032) | (0.0004) | (0.0131) | (0.0234) |
Net Asset Value, End of Period | $1.0010 | $1.0012 | $1.0005 | $1.0008 | $1.0004 |
Total Return3 | 4.14% | 0.39% | 0.01% | 1.35% | 2.39% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.23% | 0.16% | 0.20% | 0.20% | 0.20% |
Net investment income | 4.00% | 0.01% | 0.05% | 1.19% | 2.31% |
Expense waiver/reimbursement5 | 0.00% | 0.17% | 0.13% | 0.13% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $06 | $06 | $4,501 | $23,527 | $14,374 |
1 | Certain ratios included in Ratios to Average Net Assets and per share amounts may be inflated or deflated as compared to the fee structure for each respective share class as a result of daily systematic allocations being rounded to the nearest penny for fund level income, expense and realized gain/loss amounts. Such differences are immaterial. |
2 | Per share numbers have been calculated using the average shares method. |
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. |
6 | Represents less than $1,000. |
July 31, 2023
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $5,510,505,000 |
Investment in securities | 12,314,031,685 |
Investment in securities, at value (identified cost $17,825,902,574) | 17,824,536,685 |
Cash | 295,217 |
Income receivable | 49,377,047 |
Receivable for shares sold | 300 |
Total Assets | 17,874,209,249 |
Liabilities: | |
Payable for investments purchased | 105,490,000 |
Income distribution payable | 64,305,124 |
Payable for investment adviser fee (Note 5) | 46,750 |
Payable for administrative fee (Note 5) | 37,755 |
Payable for other service fees (Notes 2 and 5) | 1,987 |
Accrued expenses (Note 5) | 392,423 |
Total Liabilities | 170,274,039 |
Net assets for 17,700,510,830 shares outstanding | $17,703,935,210 |
Net Assets Consist of: | |
Paid-in capital | $17,706,702,421 |
Total distributable earnings (loss) | (2,767,211) |
Total Net Assets | $17,703,935,210 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$17,694,479,093 ÷ 17,691,055,975 shares outstanding, no par value, unlimited shares authorized | $1.0002 |
Service Shares: | |
$9,456,017 ÷ 9,454,755 shares outstanding, no par value, unlimited shares authorized | $1.0001 |
Capital Shares:1 | |
$100 ÷ 100 shares outstanding, no par value, unlimited shares authorized | $1.0010 |
1 | Actual net asset value per share presented differs from calculated net asset value per share due to rounding. |
Year Ended July 31, 2023
Investment Income: | |
Interest | $678,390,195 |
Expenses: | |
Investment adviser fee (Note 5) | 31,167,638 |
Administrative fee (Note 5) | 12,178,462 |
Custodian fees | 474,207 |
Transfer agent fees | 69,664 |
Directors’/Trustees’ fees (Note 5) | 79,652 |
Auditing fees | 26,365 |
Legal fees | 11,617 |
Portfolio accounting fees | 212,366 |
Other service fees (Notes 2 and 5) | 27,682 |
Share registration costs | 212,229 |
Printing and postage | 23,272 |
Miscellaneous (Note 5) | 96,110 |
TOTAL EXPENSES | 44,579,264 |
Waiver of investment adviser fee (Note 5) | (15,737,102) |
Net expenses | 28,842,162 |
Net investment income | 649,548,033 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments | 15,265 |
Net change in unrealized depreciation of investments | 6,541,277 |
Net realized and unrealized gain (loss) on investments | 6,556,542 |
Change in net assets resulting from operations | $656,104,575 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $649,548,033 | $50,302,148 |
Net realized gain (loss) | 15,265 | 54,512 |
Net change in unrealized appreciation/depreciation | 6,541,277 | (9,036,105) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 656,104,575 | 41,320,555 |
Distributions to Shareholders: | ||
Institutional Shares | (649,195,047) | (50,220,717) |
Service Shares | (426,273) | (41,365) |
Capital Shares | (4) | (48) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (649,621,324) | (50,262,130) |
Share Transactions: | ||
Proceeds from sale of shares | 28,884,149,698 | 24,614,918,258 |
Net asset value of shares issued to shareholders in payment of distributions declared | 118,901,284 | 8,299,365 |
Cost of shares redeemed | (25,550,445,108) | (25,705,000,012) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 3,452,605,874 | (1,081,782,389) |
Change in net assets | 3,459,089,125 | (1,090,723,964) |
Net Assets: | ||
Beginning of period | 14,244,846,085 | 15,335,570,049 |
End of period | $17,703,935,210 | $14,244,846,085 |
Other Service Fees Incurred | |
Service Shares | $27,682 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 28,648,286,991 | $28,649,705,120 | 24,232,087,166 | $24,233,003,776 |
Shares issued to shareholders in payment of distributions declared | 118,642,194 | 118,655,465 | 8,283,360 | 8,282,176 |
Shares redeemed | (25,311,215,185) | (25,312,491,758) | (25,296,641,390) | (25,298,888,431) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 3,455,714,000 | $3,455,868,827 | (1,056,270,864) | $(1,057,602,479) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 234,441,238 | $234,444,578 | 381,843,923 | $381,914,482 |
Shares issued to shareholders in payment of distributions declared | 245,807 | 245,819 | 17,154 | 17,151 |
Shares redeemed | (237,949,220) | (237,953,350) | (401,541,566) | (401,611,014) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (3,262,175) | $(3,262,953) | (19,680,489) | $(19,679,381) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | — | $— |
Shares issued to shareholders in payment of distributions declared | — | — | 38 | 38 |
Shares redeemed | — | — | (4,498,390) | (4,500,567) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | — | $— | (4,498,352) | $(4,500,529) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 3,452,451,825 | $3,452,605,874 | (1,080,449,705) | $(1,081,782,389) |
2023 | 2022 | |
Ordinary income | $649,621,324 | $50,262,130 |
Distributions payable | $(15,864) |
Net unrealized depreciation | $(1,365,889) |
Capital loss carryforwards | $(1,385,458) |
TOTAL | $(2,767,211) |
Short-Term | Long-Term | Total |
$1,385,458 | $— | $1,385,458 |
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 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,024.60 | $0.90 |
Service Shares | $1,000 | $1,023.30 | $2.16 |
Capital Shares | $1,000 | $1,024.50 | $1.15 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,023.90 | $0.90 |
Service Shares | $1,000 | $1,022.66 | $2.16 |
Capital Shares | $1,000 | $1,023.65 | $1.15 |
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 | 0.18% |
Service Shares | 0.43% |
Capital Shares | 0.23% |
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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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 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 |
Other Repurchase Agreements and Repurchase Agreements | 31.1% |
Variable Rate Instruments | 28.7% |
Bank Instruments | 23.4% |
Commercial Paper | 17.5% |
Other Assets and Liabilities—Net2 | (0.7)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of 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 | 75.6% |
8-30 Days | 3.8% |
31-90 Days | 5.8% |
91-180 Days | 9.0% |
181 Days or more | 6.5% |
Other Assets and Liabilities—Net3 | (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 | Overnight securities comprised 31.6% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— 28.7% | ||
Finance - Banking— 25.4% | |||
$ 50,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | $ 49,958,101 | |
71,000,000 | Bank of Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 70,927,032 | |
69,500,000 | Bank of Montreal, 5.750% (SOFR +0.450%), 8/1/2023 | 69,531,344 | |
55,000,000 | Bank of Montreal, 5.900% (SOFR +0.600%), 8/1/2023 | 55,014,473 | |
40,000,000 | Bank of Montreal, 5.980% (SOFR +0.680%), 8/1/2023 | 40,047,572 | |
60,000,000 | Bank of Montreal, 6.000% (SOFR +0.700%), 8/1/2023 | 60,000,000 | |
25,000,000 | Bank of Nova Scotia, Toronto, 5.610% (SOFR +0.310%), 8/1/2023 | 24,978,121 | |
73,000,000 | Bank of Nova Scotia, Toronto, 5.680% (SOFR +0.380%), 8/1/2023 | 72,978,042 | |
10,000,000 | Bank of Nova Scotia, Toronto, 5.710% (SOFR +0.410%), 8/1/2023 | 9,999,505 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.740% (SOFR +0.440%), 8/1/2023 | 50,017,279 | |
35,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 35,000,000 | |
43,500,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 43,500,000 | |
20,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 20,000,000 | |
23,500,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 23,520,496 | |
22,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 22,000,000 | |
10,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 10,000,000 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 50,055,847 | |
100,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 100,081,760 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.950% (SOFR +0.650%), 8/1/2023 | 50,016,577 | |
100,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.660%), 8/1/2023 | 100,100,252 |
30,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.450% (SOFR +0.150%), 8/1/2023 | 30,000,000 | |
30,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.620% (SOFR +0.320%), 8/1/2023 | 30,000,000 | |
95,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.700% (SOFR +0.400%), 8/1/2023 | 95,000,009 | |
70,000,000 | BPCE S.A., 5.630% (SOFR +0.330%), 8/1/2023 | 70,000,000 | |
69,500,000 | Canadian Imperial Bank of Commerce, 5.760% (SOFR +0.460%), 8/1/2023 | 69,539,523 | |
175,000,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 175,283,855 | |
75,000,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 75,123,367 | |
9,900,000 | City Furniture, Inc., (Wells Fargo Bank, N.A. LOC), 5.440%, 8/3/2023 | 9,900,000 | |
25,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.760% (SOFR +0.460%), 8/1/2023 | 25,001,304 | |
50,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 50,000,274 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 125,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.830% (SOFR +0.530%), 8/1/2023 | $ 125,013,781 | |
30,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.520% (SOFR +0.220%), 8/1/2023 | 30,000,000 | |
45,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.530% (SOFR +0.230%), 8/1/2023 | 45,000,000 | |
20,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 20,000,109 | |
16,700,000 | Greene County Development Authority, Reynolds Lodge, LLC, Series 2000B, (U.S. Bank, N.A. LOC), 5.200%, 8/2/2023 | 16,700,000 | |
7,595,000 | Gulf Gate Apartments LLC, Series 2003, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 7,595,000 | |
11,180,000 | Hamilton Station Park and Ride, Series 2005, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 11,180,000 | |
60,000,000 | ING (U.S.) Funding LLC, 5.460% (SOFR +0.150%), 8/1/2023 | 60,000,000 | |
40,000,000 | Iowa Student Loan Liquidity Corp., Series 2023-1, Weekly VRDNs, (Royal Bank of Canada LOC), 5.370%, 8/3/2023 | 40,000,000 | |
24,345,000 | Matchpoint Finance PLC, (BNP Paribas S.A. LIQ), 5.610% (SOFR +0.310%), 8/1/2023 | 24,345,648 | |
10,000,000 | Mizuho Bank Ltd., 5.690% (SOFR +0.380%), 8/1/2023 | 10,000,000 | |
50,000,000 | National Australia Bank Ltd., Melbourne, 5.510% (SOFR +0.210%), 8/1/2023 | 49,996,607 | |
67,500,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 67,452,494 | |
70,000,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 69,948,389 | |
22,500,000 | National Australia Bank Ltd., Melbourne, 5.840% (SOFR +0.540%), 8/1/2023 | 22,519,841 | |
96,500,000 | National Australia Bank Ltd., Melbourne, 5.860% (SOFR +0.560%), 8/1/2023 | 96,500,000 | |
75,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 74,921,895 | |
70,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 69,925,416 | |
125,000,000 | Nordea Bank Abp, 5.720% (SOFR +0.420%), 8/1/2023 | 125,000,000 | |
34,000,000 | Nuveen Floating Rate Income Fund, Series A, (Sumitomo Mitsui Banking Corp. LOC), 5.500%, 8/3/2023 | 34,000,000 | |
2,415,000 | Public Building Corp. Springfield, MO, Jordan Valley Ice Park, Series 2003, (U.S. Bank, N.A. LOC), 5.400%, 8/3/2023 | 2,415,000 | |
50,000,000 | Ridgefield Funding Co. LLC, Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | 49,999,955 | |
50,000,000 | 2 | Ridgefield Funding Co. LLC, Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | 49,998,713 |
35,000,000 | Royal Bank of Canada, New York Branch, 5.870% (SOFR +0.570%), 8/1/2023 | 35,000,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 95,000,000 | Royal Bank of Canada, New York Branch, 5.880% (SOFR +0.580%), 8/1/2023 | $ 95,000,000 | |
70,000,000 | Royal Bank of Canada, New York Branch, 5.900% (SOFR +0.600%), 8/1/2023 | 70,038,734 | |
18,965,000 | Salem Green, LLLP, Salem Green Apartments Project, Series 2010, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 18,965,000 | |
120,000,000 | State Street Bank and Trust Co., 5.460% (SOFR +0.150%), 8/1/2023 | 120,000,000 | |
12,000,000 | Sumitomo Mitsui Banking Corp., 5.680% (SOFR +0.380%), 8/1/2023 | 12,000,000 | |
200,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.590% (SOFR +0.290%), 8/1/2023 | 200,000,000 | |
100,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.610% (SOFR +0.310%), 8/1/2023 | 100,017,437 | |
25,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.680% (SOFR +0.380%), 8/1/2023 | 25,000,000 | |
125,000,000 | Svenska Handelsbanken, Stockholm, 5.460% (SOFR +0.150%), 8/1/2023 | 125,000,000 | |
30,000,000 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 30,012,600 | |
75,000,000 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 75,032,188 | |
110,000,000 | Svenska Handelsbanken, Stockholm, 5.730% (SOFR +0.420%), 8/1/2023 | 110,000,000 | |
65,000,000 | Svenska Handelsbanken, Stockholm, 5.760% (SOFR +0.450%), 8/1/2023 | 65,029,053 | |
100,699,637 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 5.720%, 8/1/2023 | 100,699,637 | |
2,881,821 | Taxable Tender Option Bond Trust 2021-MIZ9077TX, (Series 2021-MIZ9077TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.590%, 8/1/2023 | 2,881,821 | |
2,207,606 | Taxable Tender Option Bond Trust 2021-MIZ9078TX, (Series 2021-MIZ9078TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.590%, 8/1/2023 | 2,207,606 | |
75,000,000 | Toronto Dominion Bank, 5.810% (SOFR +0.500%), 8/1/2023 | 75,045,369 | |
17,500,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 17,500,000 | |
27,500,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 27,524,709 | |
50,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 8/1/2023 | 50,053,312 | |
147,500,000 | Wells Fargo Bank, N.A., 5.750% (SOFR +0.450%), 8/1/2023 | 147,575,824 | |
200,000,000 | Wells Fargo Bank, N.A., 5.900% (SOFR +0.600%), 8/1/2023 | 199,960,818 | |
30,000,000 | Wells Fargo Bank, N.A., 5.950% (SOFR +0.650%), 8/1/2023 | 30,013,919 | |
45,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 45,000,000 | |
22,500,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 22,500,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 5,870,000 | Yeshivas Novominsk, Series 2008, (TD Bank, N.A. LOC), 5.450%, 8/3/2023 | $ 5,870,000 | |
TOTAL | 4,498,015,608 | ||
Finance - Retail— 1.8% | |||
25,000,000 | Fairway Finance Co. LLC, 5.470% (SOFR +0.170%), 8/1/2023 | 25,000,000 | |
50,000,000 | Fairway Finance Co. LLC, 5.780% (SOFR +0.480%), 8/1/2023 | 50,027,282 | |
20,000,000 | Old Line Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 19,999,763 | |
10,000,000 | Old Line Funding, LLC, 5.650% (SOFR +0.340%), 8/1/2023 | 9,999,202 | |
39,000,000 | Sheffield Receivables Co. LLC, 5.620% (SOFR +0.320%), 8/1/2023 | 39,000,000 | |
100,000,000 | Thunder Bay Funding, LLC, 5.500% (SOFR +0.440%), 8/1/2023 | 100,000,000 | |
10,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 9,996,393 | |
25,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 24,999,083 | |
30,000,000 | Thunder Bay Funding, LLC, 5.830% (SOFR +0.520%), 8/1/2023 | 30,005,483 | |
TOTAL | 309,027,206 | ||
Government Agency— 1.5% | |||
15,535,000 | 1320 W Jefferson LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 15,535,000 | |
51,450,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 51,450,000 | |
6,830,000 | Baker Life Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,830,000 | |
34,645,000 | BWF Forge TL Properties Owner LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 34,645,000 | |
2,000,000 | Carmel Valley Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 2,000,000 | |
5,705,000 | Catania Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,705,000 | |
1,900,000 | CP Canyons WFH, LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 1,900,000 | |
4,270,000 | Jim Brooks Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 4,270,000 | |
11,570,000 | Joseph L. Goggins Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 11,570,000 | |
3,655,000 | Karyn Brooks Descendants Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 3,655,000 | |
6,380,000 | MHF DKF Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 6,380,000 | |
17,030,000 | Mohr Green Associates, LP, Series 2012-A, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 17,030,000 | |
22,610,000 | NWD 2017 Family Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 22,610,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 9,080,000 | Park Stanton Place, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | $ 9,080,000 | |
8,000,000 | Plaza Fitzsimons Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 8,000,000 | |
5,010,000 | R.J. Brooks Jr. Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 5,010,000 | |
6,980,000 | RK Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 6,980,000 | |
3,500,000 | Rohnert Park 668, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 3,500,000 | |
6,255,000 | Sibley Family Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,255,000 | |
6,610,000 | The CLC Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,610,000 | |
5,120,000 | The Eugene Kim Irrevocable Life Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,120,000 | |
22,830,000 | The Gregory P. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/2/2023 | 22,830,000 | |
5,740,000 | The Leopold Family Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,740,000 | |
5,975,000 | The Thompson 2018 Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 5,975,000 | |
TOTAL | 268,680,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $5,074,939,667) | 5,075,722,814 | ||
3 | COMMERCIAL PAPER— 17.5% | ||
Finance - Banking— 11.6% | |||
275,000,000 | Anglesea Funding LLC, 5.044% - 5.346%, 8/1/2023 - 8/7/2023 | 274,903,639 | |
25,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.499%, 12/5/2023 | 24,523,927 | |
119,500,000 | Bank of Montreal, 5.497%, 11/16/2023 | 117,548,326 | |
75,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 71,098,350 | |
375,000,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | 357,095,695 | |
100,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 5.394%, 8/31/2023 | 99,552,500 | |
210,000,000 | Citigroup Global Markets, Inc., 5.687% - 5.707%, 11/30/2023 - 12/6/2023 | 205,910,339 | |
60,000,000 | Credit Agricole Corporate and Investment Bank, 5.372%, 8/1/2023 | 60,000,000 | |
85,000,000 | DNB Bank ASA, 5.404%, 11/16/2023 | 83,625,040 | |
110,017,000 | Ridgefield Funding Co. LLC Series A, (BNP Paribas SA COL), 5.320%, 8/1/2023 | 110,017,000 | |
64,500,000 | Royal Bank of Canada, 4.049%, 8/23/2023 | 64,281,019 |
Principal Amount | Value | ||
3 | COMMERCIAL PAPER— continued | ||
Finance - Banking— continued | |||
$ 206,500,000 | Svenska Handelsbanken, Stockholm, 5.494% - 5.593%, 11/21/2023 - 11/28/2023 | $ 202,919,020 | |
80,000,000 | Toronto Dominion Bank, 5.350%, 2/6/2024 | 79,853,621 | |
60,000,000 | Toronto Dominion Bank, 5.800%, 5/16/2024 | 57,278,350 | |
250,000,000 | Victory Receivables Corp., (MUFG Bank Ltd. LIQ), 5.468%, 9/22/2023 | 248,042,778 | |
TOTAL | 2,056,649,604 | ||
Finance - Retail— 2.6% | |||
50,000,000 | Barton Capital SA, 5.449%, 8/4/2023 | 49,977,500 | |
329,500,000 | Chariot Funding LLC, 5.261% - 5.590%, 8/14/2023 - 11/1/2023 | 326,357,841 | |
40,000,000 | Old Line Funding, LLC, 5.143%, 11/3/2023 | 39,422,611 | |
30,000,000 | Old Line Funding, LLC, 5.710%, 12/15/2023 | 29,359,639 | |
12,500,000 | Thunder Bay Funding, LLC, 5.404%, 11/17/2023 | 12,292,105 | |
TOTAL | 457,409,696 | ||
Insurance— 1.0% | |||
175,000,000 | UnitedHealth Group, Inc., 5.333%, 8/1/2023 | 175,000,000 | |
Oil & Oil Finance— 1.2% | |||
220,000,000 | TotalEnergies Capital, 5.023% - 5.703%, 8/1/2023 - 11/27/2023 | 219,630,439 | |
Sovereign— 1.1% | |||
155,000,000 | BNG Bank N.V., 5.315% - 5.331%, 8/7/2023 - 8/10/2023 | 154,807,200 | |
30,000,000 | Export Development Canada, (Canada, Government of SUB), 5.203%, 11/9/2023 | 29,548,866 | |
TOTAL | 184,356,066 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $3,093,957,907) | 3,093,045,805 | ||
CERTIFICATES OF DEPOSIT— 13.6% | |||
Finance - Banking— 13.6% | |||
40,000,000 | Bank of America N.A., 5.440%, 2/7/2024 | 39,890,900 | |
37,500,000 | Bank of America N.A., 5.830%, 6/17/2024 | 37,450,594 | |
165,000,000 | Bank of Montreal, 5.470% - 5.820%, 1/8/2024 - 5/28/2024 | 164,739,281 | |
60,000,000 | Bank of Nova Scotia, Toronto, 5.400% - 5.410%, 11/15/2023 - 11/17/2023 | 59,966,417 | |
45,000,000 | BMO Harris Bank, N.A., 5.730%, 12/13/2023 | 45,010,935 | |
155,000,000 | Canadian Imperial Bank of Commerce, 5.250% - 5.800%, 2/5/2024 - 6/13/2024 | 154,783,983 | |
260,000,000 | Credit Agricole Corporate and Investment Bank, 5.250% - 5.390%, 8/1/2023 - 8/3/2023 | 260,000,000 | |
189,500,000 | DNB Bank ASA, 5.450%, 11/22/2023 | 189,432,557 | |
50,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.400%, 11/17/2023 | 49,966,088 | |
402,500,000 | Mizuho Bank Ltd., 5.380% - 5.420%, 8/15/2023 - 9/1/2023 | 402,500,000 | |
95,000,000 | MUFG Bank Ltd., 5.550%, 9/12/2023 | 95,000,000 |
Principal Amount | Value | ||
CERTIFICATES OF DEPOSIT— continued | |||
Finance - Banking— continued | |||
$ 95,000,000 | Nordea Bank Abp, 5.400%, 11/20/2023 | $ 94,939,695 | |
502,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.240% - 5.600%, 8/1/2023 - 11/3/2023 | 502,008,630 | |
70,000,000 | Toronto Dominion Bank, 5.200%, 2/2/2024 | 69,767,893 | |
70,000,000 | Toronto Dominion Bank, 5.250%, 1/25/2024 | 69,796,473 | |
165,000,000 | Toronto Dominion Bank, 5.440% - 6.050%, 2/13/2024 - 7/10/2024 | 165,009,620 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $2,401,500,000) | 2,400,263,066 | ||
TIME DEPOSITS— 9.8% | |||
Finance - Banking— 7.3% | |||
895,000,000 | ABN Amro Bank NV, 5.260% - 5.330%, 8/1/2023 - 8/4/2023 | 895,000,000 | |
200,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.250%, 8/1/2023 | 200,000,000 | |
200,000,000 | Mizuho Bank Ltd., 5.330%, 8/1/2023 | 200,000,000 | |
TOTAL | 1,295,000,000 | ||
Sovereign— 2.5% | |||
450,000,000 | NRW.Bank, 5.275% - 5.310%, 8/2/2023 - 8/7/2023 | 450,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $1,745,000,000) | 1,745,000,000 | ||
OTHER REPURCHASE AGREEMENTS— 22.1% | |||
Finance - Banking— 22.1% | |||
25,000,000 | BMO Capital Markets Corp., 5.42%, dated 7/31/2023, interest in a $425,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $425,063,986 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, U.S. Government Agency securities, medium-term notes, sovereign debt and treasury notes with a market value of $433,680,962 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
359,701,000 | BNP Paribas S.A., 5.40%, dated 7/31/2023, interest in a $1,075,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,075,161,250 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, U.S. Government Agency securities, medium-term notes, sovereign debt and treasury notes with a market value of $1,097,015,812 have been received as collateral and held with BNY Mellon as tri-party agent. | 359,701,000 | |
50,000,000 | BNP Paribas S.A., 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023, in which asset-backed securities and corporate bonds with a market value of $153,023,254 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 100,000,000 | BofA Securities, Inc., 5.94%, dated 9/4/2020, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $101,485,000 on 11/1/2023, in which American depositary receipts, convertible bonds, exchange-traded funds and medium-term notes with a market value of $102,470,306 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 100,000,000 | |
115,000,000 | BofA Securities, Inc., 5.35%, dated 7/31/2023, interest in a $125,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $125,018,576 on 8/1/2023, in which commercial paper with a market value of $127,518,948 has been received as collateral and held with BNY Mellon as tri-party agent. | 115,000,000 | |
150,000,000 | BofA Securities, Inc., 5.41%, dated 12/13/2022, interest in a $165,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $165,173,571 on 8/10/2023, in which corporate bonds with a market value of $168,325,895 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
200,000,000 | BofA Securities, Inc., 5.85%, dated 12/6/2022, interest in a $225,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $226,279,688 on 9/7/2023, in which asset-backed securities, collateralized mortgage obligations, commercial paper and municipal bonds with a market value of $229,537,294 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 | |
250,000,000 | BofA Securities, Inc., 5.94%, dated 9/9/2020, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $253,712,500 on 11/1/2023, in which American depositary receipts, convertible bonds and medium-term notes with a market value of $256,175,764 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
300,000,000 | Citigroup Global Markets, Inc., 5.43%, dated 7/31/2023, interest in a $1,300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,300,196,083 on 8/1/2023, in which treasury bonds and treasury notes with a market value of $1,326,200,057 have been received as collateral and held with BNY Mellon as tri-party agent. | 300,000,000 | |
235,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 7/6/2023, interest in a $900,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $900,962,500 on 8/10/2023, in which treasury bonds with a market value of $921,505,810 have been received as collateral and held with BNY Mellon as tri-party agent. | 235,000,000 | |
75,000,000 | Credit Agricole S.A., 5.37%, dated 4/20/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,044,750 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and sovereign debt with a market value of $306,045,774 have been received as collateral and held with BNY Mellon as tri-party agent. | 75,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 75,000,000 | Credit Agricole S.A., 5.37%, dated 4/21/2023, interest in a $350,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $350,052,208 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $357,053,252 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 75,000,000 | |
210,000,000 | Credit Agricole S.A., 5.37%, dated 2/17/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,096,958 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $663,098,897 have been received as collateral and held with BNY Mellon as tri-party agent. | 210,000,000 | |
65,000,000 | Credit Agricole S.A., 5.47%, dated 2/17/2023, interest in a $200,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $200,212,722 on 8/10/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $211,172,145 have been received as collateral and held with BNY Mellon as tri-party agent. | 65,000,000 | |
50,000,000 | HSBC Securities (USA), Inc., 5.42%, dated 7/31/2023, interest in a $310,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $310,046,672 on 8/1/2023, in which corporate bonds, medium-term notes and sovereign debt with a market value of $316,200,000 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
120,701,000 | ING Financial Markets LLC, 5.39%, dated 7/31/2023, interest in a $125,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $125,018,715 on 8/1/2023, in which corporate bonds, medium-term notes and U.S. Government Agency securities with a market value of $127,519,090 have been received as collateral and held with BNY Mellon as tri-party agent. | 120,701,000 | |
175,000,000 | J.P. Morgan Securities LLC, 5.57%, dated 7/17/2023, interest in a $750,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $753,481,250 on 8/16/2023, in which corporate bonds with a market value of $765,000,001 have been received as collateral and held with BNY Mellon as tri-party agent. | 175,000,000 | |
50,000,000 | Mizuho Securities USA LLC, 5.42%, dated 7/31/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,037,639 on 8/1/2023, in which asset-backed securities and corporate bonds with a market value of $255,038,392 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
85,000,000 | Mizuho Securities USA LLC, 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023, in which common stocks with a market value of $153,023,270 have been received as collateral and held with BNY Mellon as tri-party agent. | 85,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 34,701,000 | Mitsubishi UFG Securities Americas, Inc., 5.47%, dated 7/31/2023, interest in a $400,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $400,060,778 on 8/1/2023, in which asset-backed securities, common stocks, commercial paper, corporate bonds, exchange-traded funds, mutual funds and a unit investment trust with a market value of $408,062,040 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 34,701,000 | |
500,000,000 | Mitsubishi UFG Securities Americas, Inc., 5.30%, dated 7/31/2023, interest in a $1,650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,650,242,917 on 8/1/2023, in which U.S. Government Agency securities with a market value of $1,689,159,558 have been received as collateral and held with BNY Mellon as tri-party agent. | 500,000,000 | |
135,000,000 | Pershing LLC, 5.57%, dated 7/14/2022, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,324,917 on 8/10/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, commercial paper, common stocks, convertible bonds, exchange-traded funds, medium-term notes, municipal bonds, mutual funds and U.S. Government Agency securities with a market value of $306,048,424 have been received as collateral and held with BNY Mellon as tri-party agent. | 135,000,000 | |
125,000,000 | Societe Generale, Paris, 5.38%, dated 7/31/2023, interest in a $450,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $450,067,250 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $459,069,163 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
301,701,000 | Societe Generale, Paris, 5.47%, dated 7/31/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,098,764 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,196,426 have been received as collateral and held with BNY Mellon as tri-party agent. | 301,701,000 | |
125,000,000 | Wells Fargo Securities LLC, 5.96%, dated 2/3/2022, interest in a $125,000,000 collateralized loan agreement will repurchase securities provided as collateral for $126,862,500 on 10/25/2023, in which convertible bonds with a market value of $127,607,153 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $3,911,804,000) | 3,911,804,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— 9.0% | |||
Finance - Banking— 9.0% | |||
$1,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $1,000,147,222 on 8/1/2023. 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 2/15/2031 and the market value of those underlying securities was $1,000,147,277. | $ 1,000,000,000 | |
85,701,000 | Interest in $150,000,000 joint repurchase agreement 5.38%, dated 7/31/2023 under which Standard Chartered Bank will repurchase securities provided as collateral for $150,022,417 on 8/1/2023. 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 2/20/2053 and the market value of those underlying securities was $153,661,399. | 85,701,000 | |
513,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,441,667 on 8/1/2023. 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 10/20/2052 and the market value of those underlying securities was $3,060,450,501. | 513,000,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $1,598,701,000) | 1,598,701,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.7% (IDENTIFIED COST $17,825,902,574)4 | 17,824,536,685 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.7)%5 | (120,601,475) | ||
TOTAL NET ASSETS—100% | $17,703,935,210 |
1 | 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. |
2 | Denotes a restricted security that either: (a) cannot be offered for public sale without first being registered, or availing of an exemption from registration, under the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At July 31, 2023, these restricted securities amounted to $150,098,965, which represented 0.9% of total net assets. |
3 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
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 acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MHF | —Maryland Housing Fund | |
SOFR | —Secured Overnight Financing Rate | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9998 | $1.0005 | $1.0007 | $1.0004 | $1.0003 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.04131 | 0.00371 | 0.0008 | 0.0136 | 0.0239 |
Net realized and unrealized gain (loss) | 0.0004 | (0.0008) | (0.0002) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0417 | 0.0029 | 0.0006 | 0.0139 | 0.0240 |
Less Distributions: | |||||
Distributions from net investment income | (0.0413) | (0.0036) | (0.0008) | (0.0136) | (0.0239) |
Net Asset Value, End of Period | $1.0002 | $0.9998 | $1.0005 | $1.0007 | $1.0004 |
Total Return2 | 4.25% | 0.29% | 0.05% | 1.39% | 2.43% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.18% | 0.16% | 0.15% | 0.15% | 0.15% |
Net investment income | 4.17% | 0.38% | 0.08% | 1.37% | 2.41% |
Expense waiver/reimbursement4 | 0.10% | 0.12% | 0.13% | 0.13% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $17,694,479 | $14,232,133 | $15,298,656 | $23,611,390 | $21,146,776 |
1 | Per share numbers have been calculated using the average shares method. |
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, 2023
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $5,510,505,000 |
Investment in securities | 12,314,031,685 |
Investment in securities, at value (identified cost $17,825,902,574) | 17,824,536,685 |
Cash | 295,217 |
Income receivable | 49,377,047 |
Receivable for shares sold | 300 |
Total Assets | 17,874,209,249 |
Liabilities: | |
Payable for investments purchased | 105,490,000 |
Income distribution payable | 64,305,124 |
Payable for investment adviser fee (Note 5) | 46,750 |
Payable for administrative fee (Note 5) | 37,755 |
Payable for other service fees (Notes 2 and 5) | 1,987 |
Accrued expenses (Note 5) | 392,423 |
Total Liabilities | 170,274,039 |
Net assets for 17,700,510,830 shares outstanding | $17,703,935,210 |
Net Assets Consist of: | |
Paid-in capital | $17,706,702,421 |
Total distributable earnings (loss) | (2,767,211) |
Total Net Assets | $17,703,935,210 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$17,694,479,093 ÷ 17,691,055,975 shares outstanding, no par value, unlimited shares authorized | $1.0002 |
Service Shares: | |
$9,456,017 ÷ 9,454,755 shares outstanding, no par value, unlimited shares authorized | $1.0001 |
Capital Shares:1 | |
$100 ÷ 100 shares outstanding, no par value, unlimited shares authorized | $1.0010 |
1 | Actual net asset value per share presented differs from calculated net asset value per share due to rounding. |
Year Ended July 31, 2023
Investment Income: | |
Interest | $678,390,195 |
Expenses: | |
Investment adviser fee (Note 5) | 31,167,638 |
Administrative fee (Note 5) | 12,178,462 |
Custodian fees | 474,207 |
Transfer agent fees | 69,664 |
Directors’/Trustees’ fees (Note 5) | 79,652 |
Auditing fees | 26,365 |
Legal fees | 11,617 |
Portfolio accounting fees | 212,366 |
Other service fees (Notes 2 and 5) | 27,682 |
Share registration costs | 212,229 |
Printing and postage | 23,272 |
Miscellaneous (Note 5) | 96,110 |
TOTAL EXPENSES | 44,579,264 |
Waiver of investment adviser fee (Note 5) | (15,737,102) |
Net expenses | 28,842,162 |
Net investment income | 649,548,033 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments | 15,265 |
Net change in unrealized depreciation of investments | 6,541,277 |
Net realized and unrealized gain (loss) on investments | 6,556,542 |
Change in net assets resulting from operations | $656,104,575 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $649,548,033 | $50,302,148 |
Net realized gain (loss) | 15,265 | 54,512 |
Net change in unrealized appreciation/depreciation | 6,541,277 | (9,036,105) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 656,104,575 | 41,320,555 |
Distributions to Shareholders: | ||
Institutional Shares | (649,195,047) | (50,220,717) |
Service Shares | (426,273) | (41,365) |
Capital Shares | (4) | (48) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (649,621,324) | (50,262,130) |
Share Transactions: | ||
Proceeds from sale of shares | 28,884,149,698 | 24,614,918,258 |
Net asset value of shares issued to shareholders in payment of distributions declared | 118,901,284 | 8,299,365 |
Cost of shares redeemed | (25,550,445,108) | (25,705,000,012) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 3,452,605,874 | (1,081,782,389) |
Change in net assets | 3,459,089,125 | (1,090,723,964) |
Net Assets: | ||
Beginning of period | 14,244,846,085 | 15,335,570,049 |
End of period | $17,703,935,210 | $14,244,846,085 |
Other Service Fees Incurred | |
Service Shares | $27,682 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 28,648,286,991 | $28,649,705,120 | 24,232,087,166 | $24,233,003,776 |
Shares issued to shareholders in payment of distributions declared | 118,642,194 | 118,655,465 | 8,283,360 | 8,282,176 |
Shares redeemed | (25,311,215,185) | (25,312,491,758) | (25,296,641,390) | (25,298,888,431) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 3,455,714,000 | $3,455,868,827 | (1,056,270,864) | $(1,057,602,479) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 234,441,238 | $234,444,578 | 381,843,923 | $381,914,482 |
Shares issued to shareholders in payment of distributions declared | 245,807 | 245,819 | 17,154 | 17,151 |
Shares redeemed | (237,949,220) | (237,953,350) | (401,541,566) | (401,611,014) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (3,262,175) | $(3,262,953) | (19,680,489) | $(19,679,381) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | — | $— |
Shares issued to shareholders in payment of distributions declared | — | — | 38 | 38 |
Shares redeemed | — | — | (4,498,390) | (4,500,567) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | — | $— | (4,498,352) | $(4,500,529) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 3,452,451,825 | $3,452,605,874 | (1,080,449,705) | $(1,081,782,389) |
2023 | 2022 | |
Ordinary income | $649,621,324 | $50,262,130 |
Distributions payable | $(15,864) |
Net unrealized depreciation | $(1,365,889) |
Capital loss carryforwards | $(1,385,458) |
TOTAL | $(2,767,211) |
Short-Term | Long-Term | Total |
$1,385,458 | $— | $1,385,458 |
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 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period | |
Actual | $1,000.00 | $1,024.60 | $0.90 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,023.90 | $0.90 |
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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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 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 |
Other Repurchase Agreements and Repurchase Agreements | 31.2% |
Variable Rate Instruments | 28.4% |
Bank Instruments | 23.2% |
Commercial Paper | 17.3% |
Other Assets and Liabilities—Net3 | (0.1)% |
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— 99.1% | |||
12,704,233,668 | Federated Hermes Institutional Prime Obligations Fund, Institutional Shares, 5.32%1 (IDENTIFIED COST $12,711,517,982) | $12,706,774,515 | |
OTHER REPURCHASE AGREEMENTS— 0.4% | |||
Finance - Banking— 0.4% | |||
$ 50,000,000 | HSBC Securities (USA), Inc., 5.42%, dated 7/31/2023, interest in a $310,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $310,046,672 on 8/1/2023, in which corporate bonds, medium-term notes and sovereign securities with a market value of $316,200,000 have been received as collateral and held with BNY Mellon as tri-party agent. (IDENTIFIED COST $50,000,000) | 50,000,000 | |
TOTAL INVESTMENT IN SECURITIES—99.5% (IDENTIFIED COST $12,761,517,982)2 | 12,756,774,515 | ||
OTHER ASSETS AND LIABILITIES - NET—0.5%3 | 67,442,947 | ||
TOTAL NET ASSETS—100% | $12,824,217,462 |
Federated Hermes Institutional Prime Obligations Fund, Institutional Shares | |
Value as of 7/31/2022 | $10,294,155,651 |
Purchases at Cost | $12,578,551,900 |
Proceeds from Sales | $(10,170,453,600) |
Change in Unrealized Appreciation/Depreciation | $3,395,030 |
Net Realized Gain/(Loss) | $1,125,534 |
Value as of 7/31/2023 | $12,706,774,515 |
Shares Held as of 7/31/2023 | 12,704,233,668 |
Dividend Income | $474,185,907 |
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, 2023, 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 | $12,706,774,515 | $— | $— | $12,706,774,515 |
Repurchase Agreement | — | 50,000,000 | — | 50,000,000 |
TOTAL SECURITIES | $12,706,774,515 | $50,000,000 | $— | $12,756,774,515 |
Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9995 | $1.0004 | $1.0006 | $1.0003 | $1.0002 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0413 | 0.0036 | 0.0008 | 0.0136 | 0.0239 |
Net realized and unrealized gain (loss) | 0.0004 | (0.0008) | (0.0002) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0417 | 0.0028 | 0.0006 | 0.0139 | 0.0240 |
Less Distributions: | |||||
Distributions from net investment income | (0.0413) | (0.0036) | (0.0008) | (0.0136) | (0.0239) |
Distributions from net realized gain | — | (0.0001) | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0413) | (0.0037) | (0.0008) | (0.0136) | (0.0239) |
Net Asset Value, End of Period | $0.9999 | $0.9995 | $1.0004 | $1.0006 | $1.0003 |
Total Return2 | 4.25% | 0.28% | 0.06% | 1.39% | 2.43% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.00%4 | —% | —% | 0.00%4 | —% |
Net investment income | 4.18% | 0.35% | 0.08% | 1.36% | 2.41% |
Expense waiver/reimbursement5 | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $12,250,590 | $9,946,892 | $12,120,572 | $15,937,441 | $13,599,422 |
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 ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9995 | $1.0003 | $1.0006 | $1.0003 | $1.0002 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0388 | 0.0025 | 0.0002 | 0.0111 | 0.0214 |
Net realized and unrealized gain (loss) | 0.0004 | (0.0007) | (0.0003) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0392 | 0.0018 | (0.0001) | 0.0114 | 0.0215 |
Less Distributions: | |||||
Distributions from net investment income | (0.0388) | (0.0025) | (0.0002) | (0.0111) | (0.0214) |
Distributions from net realized gain | — | (0.0001) | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0388) | (0.0026) | (0.0002) | (0.0111) | (0.0214) |
Net Asset Value, End of Period | $0.9999 | $0.9995 | $1.0003 | $1.0006 | $1.0003 |
Total Return2 | 3.99% | 0.18% | (0.01)% | 1.14% | 2.18% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.25% | 0.09% | 0.08% | 0.25% | 0.25% |
Net investment income | 4.01% | 0.19% | 0.01% | 1.04% | 2.20% |
Expense waiver/reimbursement4 | 0.29% | 0.45% | 0.46% | 0.29% | 0.29% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $567,683 | $372,511 | $701,955 | $1,687,886 | $1,055,438 |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9994 | $1.0003 | $1.0006 | $1.0003 | $1.0002 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0402 | 0.0028 | 0.0003 | 0.0126 | 0.0230 |
Net realized and unrealized gain (loss) | 0.0005 | (0.0006) | (0.0003) | 0.0003 | (0.0000)1 |
Total From Investment Operations | 0.0407 | 0.0022 | — | 0.0129 | 0.0230 |
Less Distributions: | |||||
Distributions from net investment income | (0.0403) | (0.0030) | (0.0003) | (0.0126) | (0.0229) |
Distributions from net realized gain | — | (0.0001) | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0403) | (0.0031) | (0.0003) | (0.0126) | (0.0229) |
Net Asset Value, End of Period | $0.9998 | $0.9994 | $1.0003 | $1.0006 | $1.0003 |
Total Return2 | 4.15% | 0.23% | 0.00%3 | 1.29% | 2.33% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.10% | 0.05% | 0.06% | 0.10% | 0.10% |
Net investment income | 3.90% | 0.19% | 0.02% | 1.24% | 2.31% |
Expense waiver/reimbursement5 | 0.29% | 0.34% | 0.33% | 0.29% | 0.29% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $5,944 | $8,942 | $20,922 | $19,074 | $16,566 |
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. |
July 31, 2023
Assets: | |
Investment in securities, at value including $12,706,774,515 of investments in affiliated holdings* (identified cost $12,761,517,982, including $12,711,517,982 of identified cost in affiliated holdings) | $12,756,774,515 |
Cash | 890,050 |
Income receivable | 7,527 |
Income receivable from affiliated holdings | 56,368,697 |
Receivable for shares sold | 72,936,110 |
Total Assets | 12,886,976,899 |
Liabilities: | |
Payable for shares redeemed | 28,338,312 |
Income distribution payable | 33,985,673 |
Payable to investment adviser (Note 5) | 18,092 |
Payable for administrative fee (Note 5) | 27,227 |
Payable for other service fees (Notes 2 and 5) | 99,272 |
Accrued expenses (Note 5) | 290,861 |
Total Liabilities | 62,759,437 |
Net assets for 12,825,728,030 shares outstanding | $12,824,217,462 |
Net Assets Consist of: | |
Paid-in capital | $12,829,272,288 |
Total distributable earnings (loss) | (5,054,826) |
Total Net Assets | $12,824,217,462 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$12,250,590,283 ÷ 12,252,032,441 shares outstanding, no par value, unlimited shares authorized | $0.9999 |
Service Shares: | |
$567,683,016 ÷ 567,750,503 shares outstanding, no par value, unlimited shares authorized | $0.9999 |
Capital Shares: | |
$5,944,163 ÷ 5,945,086 shares outstanding, no par value, unlimited shares authorized | $0.9998 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31, 2023
Investment Income: | |
Dividends received from affiliated holdings* | $474,185,907 |
Interest | 2,126,387 |
TOTAL INCOME | 476,312,294 |
Expenses: | |
Investment adviser fee (Note 5) | 22,762,449 |
Administrative fee (Note 5) | 8,892,426 |
Custodian fees | 321,883 |
Transfer agent fees | 106,722 |
Directors’/Trustees’ fees (Note 5) | 56,389 |
Auditing fees | 26,365 |
Legal fees | 11,618 |
Portfolio accounting fees | 219,300 |
Other service fees (Notes 2 and 5) | 1,118,741 |
Share registration costs | 333,824 |
Printing and postage | 39,952 |
Miscellaneous (Note 5) | 161,267 |
TOTAL EXPENSES | 34,050,936 |
Waiver and Reimbursements: | |
Waiver/reimbursement of investment adviser fee (Note 5) | (22,762,449) |
Reimbursement of other operating expenses (Notes 2 and 5) | (10,098,822) |
TOTAL WAIVER AND REIMBURSEMENTS | (32,861,271) |
Net expenses | 1,189,665 |
Net investment income | 475,122,629 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments in affiliated holdings* | 1,125,534 |
Net change in unrealized depreciation of investments in affiliated holdings* | 3,395,030 |
Net realized and unrealized gain (loss) on investments | 4,520,564 |
Change in net assets resulting from operations | $479,643,193 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $475,122,629 | $34,665,085 |
Net realized gain (loss) | 1,125,534 | (1,328,799) |
Net change in unrealized appreciation/depreciation | 3,395,030 | (6,111,897) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 479,643,193 | 27,224,389 |
Distributions to Shareholders: | ||
Institutional Shares | (456,986,602) | (34,900,178) |
Service Shares | (17,839,842) | (972,903) |
Capital Shares | (297,852) | (35,840) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (475,124,296) | (35,908,921) |
Share Transactions: | ||
Proceeds from sale of shares | 41,835,474,572 | 38,690,164,420 |
Net asset value of shares issued to shareholders in payment of distributions declared | 169,328,107 | 10,482,549 |
Cost of shares redeemed | (39,513,449,330) | (41,207,066,452) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 2,491,353,349 | (2,506,419,483) |
Change in net assets | 2,495,872,246 | (2,515,104,015) |
Net Assets: | ||
Beginning of period | 10,328,345,216 | 12,843,449,231 |
End of period | $12,824,217,462 | $10,328,345,216 |
Other Service Fees Incurred | |
Service Shares | $1,111,099 |
Capital Shares | 7,642 |
TOTAL | $1,118,741 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 41,150,980,564 | $41,141,014,548 | 38,562,278,787 | $38,557,456,148 |
Shares issued to shareholders in payment of distributions declared | 151,505,640 | 151,478,912 | 9,493,387 | 9,489,444 |
Shares redeemed | (39,002,504,601) | (38,993,166,012) | (40,735,979,904) | (40,732,381,207) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 2,299,981,603 | $2,299,327,448 | (2,164,207,730) | $(2,165,435,615) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 691,989,213 | $691,857,989 | 127,450,141 | $127,416,583 |
Shares issued to shareholders in payment of distributions declared | 17,554,792 | 17,551,569 | 957,705 | 957,294 |
Shares redeemed | (514,497,010) | (514,381,513) | (457,418,370) | (457,394,097) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 195,046,995 | $195,028,045 | (329,010,524) | $(329,020,220) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,603,475 | $2,602,035 | 5,292,088 | $5,291,689 |
Shares issued to shareholders in payment of distributions declared | 297,715 | 297,626 | 35,826 | 35,811 |
Shares redeemed | (5,902,912) | (5,901,805) | (17,295,855) | (17,291,148) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (3,001,722) | $(3,002,144) | (11,967,941) | $(11,963,648) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 2,492,026,876 | $2,491,353,349 | (2,505,186,195) | $(2,506,419,483) |
2023 | 2022 | |
Ordinary income | $475,124,296 | $34,608,506 |
Long-term capital gains | $— | $1,300,415 |
Distributions payable | $(108,094) |
Net unrealized depreciation | $(4,743,467) |
Capital loss carryforwards | $(203,265) |
TOTAL | $(5,054,826) |
Short-Term | Long-Term | Total |
$203,265 | $— | $203,265 |
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 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,024.60 | $—2 |
Service Shares | $1,000 | $1,023.40 | $1.253 |
Capital Shares | $1,000 | $1,024.10 | $0.504 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,024.79 | $—2 |
Service Shares | $1,000 | $1,023.55 | $1.253 |
Capital Shares | $1,000 | $1,024.30 | $0.504 |
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 | 0.25% |
Capital Shares | 0.10% |
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 $1.00 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 $2.26 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 $1.51 and $1.51, respectively. |
Security Type | Percentage of Total Net Assets |
Other Repurchase Agreements and Repurchase Agreements | 31.1% |
Variable Rate Instruments | 28.7% |
Bank Instruments | 23.4% |
Commercial Paper | 17.5% |
Other Assets and Liabilities—Net2 | (0.7)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of 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 | 75.6% |
8-30 Days | 3.8% |
31-90 Days | 5.8% |
91-180 Days | 9.0% |
181 Days or more | 6.5% |
Other Assets and Liabilities—Net3 | (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 | Overnight securities comprised 31.6% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— 28.7% | ||
Finance - Banking— 25.4% | |||
$ 50,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | $ 49,958,101 | |
71,000,000 | Bank of Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 70,927,032 | |
69,500,000 | Bank of Montreal, 5.750% (SOFR +0.450%), 8/1/2023 | 69,531,344 | |
55,000,000 | Bank of Montreal, 5.900% (SOFR +0.600%), 8/1/2023 | 55,014,473 | |
40,000,000 | Bank of Montreal, 5.980% (SOFR +0.680%), 8/1/2023 | 40,047,572 | |
60,000,000 | Bank of Montreal, 6.000% (SOFR +0.700%), 8/1/2023 | 60,000,000 | |
25,000,000 | Bank of Nova Scotia, Toronto, 5.610% (SOFR +0.310%), 8/1/2023 | 24,978,121 | |
73,000,000 | Bank of Nova Scotia, Toronto, 5.680% (SOFR +0.380%), 8/1/2023 | 72,978,042 | |
10,000,000 | Bank of Nova Scotia, Toronto, 5.710% (SOFR +0.410%), 8/1/2023 | 9,999,505 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.740% (SOFR +0.440%), 8/1/2023 | 50,017,279 | |
35,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 35,000,000 | |
43,500,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 43,500,000 | |
20,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 20,000,000 | |
23,500,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 23,520,496 | |
22,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 22,000,000 | |
10,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 10,000,000 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 50,055,847 | |
100,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 100,081,760 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.950% (SOFR +0.650%), 8/1/2023 | 50,016,577 | |
100,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.660%), 8/1/2023 | 100,100,252 |
30,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.450% (SOFR +0.150%), 8/1/2023 | 30,000,000 | |
30,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.620% (SOFR +0.320%), 8/1/2023 | 30,000,000 | |
95,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.700% (SOFR +0.400%), 8/1/2023 | 95,000,009 | |
70,000,000 | BPCE S.A., 5.630% (SOFR +0.330%), 8/1/2023 | 70,000,000 | |
69,500,000 | Canadian Imperial Bank of Commerce, 5.760% (SOFR +0.460%), 8/1/2023 | 69,539,523 | |
175,000,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 175,283,855 | |
75,000,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 75,123,367 | |
9,900,000 | City Furniture, Inc., (Wells Fargo Bank, N.A. LOC), 5.440%, 8/3/2023 | 9,900,000 | |
25,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.760% (SOFR +0.460%), 8/1/2023 | 25,001,304 | |
50,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 50,000,274 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 125,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.830% (SOFR +0.530%), 8/1/2023 | $ 125,013,781 | |
30,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.520% (SOFR +0.220%), 8/1/2023 | 30,000,000 | |
45,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.530% (SOFR +0.230%), 8/1/2023 | 45,000,000 | |
20,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 20,000,109 | |
16,700,000 | Greene County Development Authority, Reynolds Lodge, LLC, Series 2000B, (U.S. Bank, N.A. LOC), 5.200%, 8/2/2023 | 16,700,000 | |
7,595,000 | Gulf Gate Apartments LLC, Series 2003, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 7,595,000 | |
11,180,000 | Hamilton Station Park and Ride, Series 2005, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 11,180,000 | |
60,000,000 | ING (U.S.) Funding LLC, 5.460% (SOFR +0.150%), 8/1/2023 | 60,000,000 | |
40,000,000 | Iowa Student Loan Liquidity Corp., Series 2023-1, Weekly VRDNs, (Royal Bank of Canada LOC), 5.370%, 8/3/2023 | 40,000,000 | |
24,345,000 | Matchpoint Finance PLC, (BNP Paribas S.A. LIQ), 5.610% (SOFR +0.310%), 8/1/2023 | 24,345,648 | |
10,000,000 | Mizuho Bank Ltd., 5.690% (SOFR +0.380%), 8/1/2023 | 10,000,000 | |
50,000,000 | National Australia Bank Ltd., Melbourne, 5.510% (SOFR +0.210%), 8/1/2023 | 49,996,607 | |
67,500,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 67,452,494 | |
70,000,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 69,948,389 | |
22,500,000 | National Australia Bank Ltd., Melbourne, 5.840% (SOFR +0.540%), 8/1/2023 | 22,519,841 | |
96,500,000 | National Australia Bank Ltd., Melbourne, 5.860% (SOFR +0.560%), 8/1/2023 | 96,500,000 | |
75,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 74,921,895 | |
70,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 69,925,416 | |
125,000,000 | Nordea Bank Abp, 5.720% (SOFR +0.420%), 8/1/2023 | 125,000,000 | |
34,000,000 | Nuveen Floating Rate Income Fund, Series A, (Sumitomo Mitsui Banking Corp. LOC), 5.500%, 8/3/2023 | 34,000,000 | |
2,415,000 | Public Building Corp. Springfield, MO, Jordan Valley Ice Park, Series 2003, (U.S. Bank, N.A. LOC), 5.400%, 8/3/2023 | 2,415,000 | |
50,000,000 | Ridgefield Funding Co. LLC, Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | ���49,999,955 | |
50,000,000 | 2 | Ridgefield Funding Co. LLC, Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | 49,998,713 |
35,000,000 | Royal Bank of Canada, New York Branch, 5.870% (SOFR +0.570%), 8/1/2023 | 35,000,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 95,000,000 | Royal Bank of Canada, New York Branch, 5.880% (SOFR +0.580%), 8/1/2023 | $ 95,000,000 | |
70,000,000 | Royal Bank of Canada, New York Branch, 5.900% (SOFR +0.600%), 8/1/2023 | 70,038,734 | |
18,965,000 | Salem Green, LLLP, Salem Green Apartments Project, Series 2010, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 18,965,000 | |
120,000,000 | State Street Bank and Trust Co., 5.460% (SOFR +0.150%), 8/1/2023 | 120,000,000 | |
12,000,000 | Sumitomo Mitsui Banking Corp., 5.680% (SOFR +0.380%), 8/1/2023 | 12,000,000 | |
200,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.590% (SOFR +0.290%), 8/1/2023 | 200,000,000 | |
100,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.610% (SOFR +0.310%), 8/1/2023 | 100,017,437 | |
25,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.680% (SOFR +0.380%), 8/1/2023 | 25,000,000 | |
125,000,000 | Svenska Handelsbanken, Stockholm, 5.460% (SOFR +0.150%), 8/1/2023 | 125,000,000 | |
30,000,000 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 30,012,600 | |
75,000,000 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 75,032,188 | |
110,000,000 | Svenska Handelsbanken, Stockholm, 5.730% (SOFR +0.420%), 8/1/2023 | 110,000,000 | |
65,000,000 | Svenska Handelsbanken, Stockholm, 5.760% (SOFR +0.450%), 8/1/2023 | 65,029,053 | |
100,699,637 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 5.720%, 8/1/2023 | 100,699,637 | |
2,881,821 | Taxable Tender Option Bond Trust 2021-MIZ9077TX, (Series 2021-MIZ9077TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.590%, 8/1/2023 | 2,881,821 | |
2,207,606 | Taxable Tender Option Bond Trust 2021-MIZ9078TX, (Series 2021-MIZ9078TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.590%, 8/1/2023 | 2,207,606 | |
75,000,000 | Toronto Dominion Bank, 5.810% (SOFR +0.500%), 8/1/2023 | 75,045,369 | |
17,500,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 17,500,000 | |
27,500,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 27,524,709 | |
50,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 8/1/2023 | 50,053,312 | |
147,500,000 | Wells Fargo Bank, N.A., 5.750% (SOFR +0.450%), 8/1/2023 | 147,575,824 | |
200,000,000 | Wells Fargo Bank, N.A., 5.900% (SOFR +0.600%), 8/1/2023 | 199,960,818 | |
30,000,000 | Wells Fargo Bank, N.A., 5.950% (SOFR +0.650%), 8/1/2023 | 30,013,919 | |
45,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 45,000,000 | |
22,500,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 22,500,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 5,870,000 | Yeshivas Novominsk, Series 2008, (TD Bank, N.A. LOC), 5.450%, 8/3/2023 | $ 5,870,000 | |
TOTAL | 4,498,015,608 | ||
Finance - Retail— 1.8% | |||
25,000,000 | Fairway Finance Co. LLC, 5.470% (SOFR +0.170%), 8/1/2023 | 25,000,000 | |
50,000,000 | Fairway Finance Co. LLC, 5.780% (SOFR +0.480%), 8/1/2023 | 50,027,282 | |
20,000,000 | Old Line Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 19,999,763 | |
10,000,000 | Old Line Funding, LLC, 5.650% (SOFR +0.340%), 8/1/2023 | 9,999,202 | |
39,000,000 | Sheffield Receivables Co. LLC, 5.620% (SOFR +0.320%), 8/1/2023 | 39,000,000 | |
100,000,000 | Thunder Bay Funding, LLC, 5.500% (SOFR +0.440%), 8/1/2023 | 100,000,000 | |
10,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 9,996,393 | |
25,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 24,999,083 | |
30,000,000 | Thunder Bay Funding, LLC, 5.830% (SOFR +0.520%), 8/1/2023 | 30,005,483 | |
TOTAL | 309,027,206 | ||
Government Agency— 1.5% | |||
15,535,000 | 1320 W Jefferson LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 15,535,000 | |
51,450,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 51,450,000 | |
6,830,000 | Baker Life Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,830,000 | |
34,645,000 | BWF Forge TL Properties Owner LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 34,645,000 | |
2,000,000 | Carmel Valley Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 2,000,000 | |
5,705,000 | Catania Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,705,000 | |
1,900,000 | CP Canyons WFH, LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 1,900,000 | |
4,270,000 | Jim Brooks Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 4,270,000 | |
11,570,000 | Joseph L. Goggins Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 11,570,000 | |
3,655,000 | Karyn Brooks Descendants Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 3,655,000 | |
6,380,000 | MHF DKF Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 6,380,000 | |
17,030,000 | Mohr Green Associates, LP, Series 2012-A, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 17,030,000 | |
22,610,000 | NWD 2017 Family Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 22,610,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 9,080,000 | Park Stanton Place, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | $ 9,080,000 | |
8,000,000 | Plaza Fitzsimons Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 8,000,000 | |
5,010,000 | R.J. Brooks Jr. Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 5,010,000 | |
6,980,000 | RK Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 6,980,000 | |
3,500,000 | Rohnert Park 668, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 3,500,000 | |
6,255,000 | Sibley Family Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,255,000 | |
6,610,000 | The CLC Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,610,000 | |
5,120,000 | The Eugene Kim Irrevocable Life Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,120,000 | |
22,830,000 | The Gregory P. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/2/2023 | 22,830,000 | |
5,740,000 | The Leopold Family Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,740,000 | |
5,975,000 | The Thompson 2018 Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 5,975,000 | |
TOTAL | 268,680,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $5,074,939,667) | 5,075,722,814 | ||
3 | COMMERCIAL PAPER— 17.5% | ||
Finance - Banking— 11.6% | |||
275,000,000 | Anglesea Funding LLC, 5.044% - 5.346%, 8/1/2023 - 8/7/2023 | 274,903,639 | |
25,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.499%, 12/5/2023 | 24,523,927 | |
119,500,000 | Bank of Montreal, 5.497%, 11/16/2023 | 117,548,326 | |
75,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 71,098,350 | |
375,000,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | 357,095,695 | |
100,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 5.394%, 8/31/2023 | 99,552,500 | |
210,000,000 | Citigroup Global Markets, Inc., 5.687% - 5.707%, 11/30/2023 - 12/6/2023 | 205,910,339 | |
60,000,000 | Credit Agricole Corporate and Investment Bank, 5.372%, 8/1/2023 | 60,000,000 | |
85,000,000 | DNB Bank ASA, 5.404%, 11/16/2023 | 83,625,040 | |
110,017,000 | Ridgefield Funding Co. LLC Series A, (BNP Paribas SA COL), 5.320%, 8/1/2023 | 110,017,000 | |
64,500,000 | Royal Bank of Canada, 4.049%, 8/23/2023 | 64,281,019 |
Principal Amount | Value | ||
3 | COMMERCIAL PAPER— continued | ||
Finance - Banking— continued | |||
$ 206,500,000 | Svenska Handelsbanken, Stockholm, 5.494% - 5.593%, 11/21/2023 - 11/28/2023 | $ 202,919,020 | |
80,000,000 | Toronto Dominion Bank, 5.350%, 2/6/2024 | 79,853,621 | |
60,000,000 | Toronto Dominion Bank, 5.800%, 5/16/2024 | 57,278,350 | |
250,000,000 | Victory Receivables Corp., (MUFG Bank Ltd. LIQ), 5.468%, 9/22/2023 | 248,042,778 | |
TOTAL | 2,056,649,604 | ||
Finance - Retail— 2.6% | |||
50,000,000 | Barton Capital SA, 5.449%, 8/4/2023 | 49,977,500 | |
329,500,000 | Chariot Funding LLC, 5.261% - 5.590%, 8/14/2023 - 11/1/2023 | 326,357,841 | |
40,000,000 | Old Line Funding, LLC, 5.143%, 11/3/2023 | 39,422,611 | |
30,000,000 | Old Line Funding, LLC, 5.710%, 12/15/2023 | 29,359,639 | |
12,500,000 | Thunder Bay Funding, LLC, 5.404%, 11/17/2023 | 12,292,105 | |
TOTAL | 457,409,696 | ||
Insurance— 1.0% | |||
175,000,000 | UnitedHealth Group, Inc., 5.333%, 8/1/2023 | 175,000,000 | |
Oil & Oil Finance— 1.2% | |||
220,000,000 | TotalEnergies Capital, 5.023% - 5.703%, 8/1/2023 - 11/27/2023 | 219,630,439 | |
Sovereign— 1.1% | |||
155,000,000 | BNG Bank N.V., 5.315% - 5.331%, 8/7/2023 - 8/10/2023 | 154,807,200 | |
30,000,000 | Export Development Canada, (Canada, Government of SUB), 5.203%, 11/9/2023 | ���29,548,866 | |
TOTAL | 184,356,066 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $3,093,957,907) | 3,093,045,805 | ||
CERTIFICATES OF DEPOSIT— 13.6% | |||
Finance - Banking— 13.6% | |||
40,000,000 | Bank of America N.A., 5.440%, 2/7/2024 | 39,890,900 | |
37,500,000 | Bank of America N.A., 5.830%, 6/17/2024 | 37,450,594 | |
165,000,000 | Bank of Montreal, 5.470% - 5.820%, 1/8/2024 - 5/28/2024 | 164,739,281 | |
60,000,000 | Bank of Nova Scotia, Toronto, 5.400% - 5.410%, 11/15/2023 - 11/17/2023 | 59,966,417 | |
45,000,000 | BMO Harris Bank, N.A., 5.730%, 12/13/2023 | 45,010,935 | |
155,000,000 | Canadian Imperial Bank of Commerce, 5.250% - 5.800%, 2/5/2024 - 6/13/2024 | 154,783,983 | |
260,000,000 | Credit Agricole Corporate and Investment Bank, 5.250% - 5.390%, 8/1/2023 - 8/3/2023 | 260,000,000 | |
189,500,000 | DNB Bank ASA, 5.450%, 11/22/2023 | 189,432,557 | |
50,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.400%, 11/17/2023 | 49,966,088 | |
402,500,000 | Mizuho Bank Ltd., 5.380% - 5.420%, 8/15/2023 - 9/1/2023 | 402,500,000 | |
95,000,000 | MUFG Bank Ltd., 5.550%, 9/12/2023 | 95,000,000 |
Principal Amount | Value | ||
CERTIFICATES OF DEPOSIT— continued | |||
Finance - Banking— continued | |||
$ 95,000,000 | Nordea Bank Abp, 5.400%, 11/20/2023 | $ 94,939,695 | |
502,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.240% - 5.600%, 8/1/2023 - 11/3/2023 | 502,008,630 | |
70,000,000 | Toronto Dominion Bank, 5.200%, 2/2/2024 | 69,767,893 | |
70,000,000 | Toronto Dominion Bank, 5.250%, 1/25/2024 | 69,796,473 | |
165,000,000 | Toronto Dominion Bank, 5.440% - 6.050%, 2/13/2024 - 7/10/2024 | 165,009,620 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $2,401,500,000) | 2,400,263,066 | ||
TIME DEPOSITS— 9.8% | |||
Finance - Banking— 7.3% | |||
895,000,000 | ABN Amro Bank NV, 5.260% - 5.330%, 8/1/2023 - 8/4/2023 | 895,000,000 | |
200,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.250%, 8/1/2023 | 200,000,000 | |
200,000,000 | Mizuho Bank Ltd., 5.330%, 8/1/2023 | 200,000,000 | |
TOTAL | 1,295,000,000 | ||
Sovereign— 2.5% | |||
450,000,000 | NRW.Bank, 5.275% - 5.310%, 8/2/2023 - 8/7/2023 | 450,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $1,745,000,000) | 1,745,000,000 | ||
OTHER REPURCHASE AGREEMENTS— 22.1% | |||
Finance - Banking— 22.1% | |||
25,000,000 | BMO Capital Markets Corp., 5.42%, dated 7/31/2023, interest in a $425,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $425,063,986 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, U.S. Government Agency securities, medium-term notes, sovereign debt and treasury notes with a market value of $433,680,962 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
359,701,000 | BNP Paribas S.A., 5.40%, dated 7/31/2023, interest in a $1,075,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,075,161,250 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, U.S. Government Agency securities, medium-term notes, sovereign debt and treasury notes with a market value of $1,097,015,812 have been received as collateral and held with BNY Mellon as tri-party agent. | 359,701,000 | |
50,000,000 | BNP Paribas S.A., 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023, in which asset-backed securities and corporate bonds with a market value of $153,023,254 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 100,000,000 | BofA Securities, Inc., 5.94%, dated 9/4/2020, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $101,485,000 on 11/1/2023, in which American depositary receipts, convertible bonds, exchange-traded funds and medium-term notes with a market value of $102,470,306 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 100,000,000 | |
115,000,000 | BofA Securities, Inc., 5.35%, dated 7/31/2023, interest in a $125,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $125,018,576 on 8/1/2023, in which commercial paper with a market value of $127,518,948 has been received as collateral and held with BNY Mellon as tri-party agent. | 115,000,000 | |
150,000,000 | BofA Securities, Inc., 5.41%, dated 12/13/2022, interest in a $165,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $165,173,571 on 8/10/2023, in which corporate bonds with a market value of $168,325,895 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
200,000,000 | BofA Securities, Inc., 5.85%, dated 12/6/2022, interest in a $225,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $226,279,688 on 9/7/2023, in which asset-backed securities, collateralized mortgage obligations, commercial paper and municipal bonds with a market value of $229,537,294 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 | |
250,000,000 | BofA Securities, Inc., 5.94%, dated 9/9/2020, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $253,712,500 on 11/1/2023, in which American depositary receipts, convertible bonds and medium-term notes with a market value of $256,175,764 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
300,000,000 | Citigroup Global Markets, Inc., 5.43%, dated 7/31/2023, interest in a $1,300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,300,196,083 on 8/1/2023, in which treasury bonds and treasury notes with a market value of $1,326,200,057 have been received as collateral and held with BNY Mellon as tri-party agent. | 300,000,000 | |
235,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 7/6/2023, interest in a $900,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $900,962,500 on 8/10/2023, in which treasury bonds with a market value of $921,505,810 have been received as collateral and held with BNY Mellon as tri-party agent. | 235,000,000 | |
75,000,000 | Credit Agricole S.A., 5.37%, dated 4/20/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,044,750 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and sovereign debt with a market value of $306,045,774 have been received as collateral and held with BNY Mellon as tri-party agent. | 75,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 75,000,000 | Credit Agricole S.A., 5.37%, dated 4/21/2023, interest in a $350,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $350,052,208 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $357,053,252 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 75,000,000 | |
210,000,000 | Credit Agricole S.A., 5.37%, dated 2/17/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,096,958 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $663,098,897 have been received as collateral and held with BNY Mellon as tri-party agent. | 210,000,000 | |
65,000,000 | Credit Agricole S.A., 5.47%, dated 2/17/2023, interest in a $200,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $200,212,722 on 8/10/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $211,172,145 have been received as collateral and held with BNY Mellon as tri-party agent. | 65,000,000 | |
50,000,000 | HSBC Securities (USA), Inc., 5.42%, dated 7/31/2023, interest in a $310,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $310,046,672 on 8/1/2023, in which corporate bonds, medium-term notes and sovereign debt with a market value of $316,200,000 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
120,701,000 | ING Financial Markets LLC, 5.39%, dated 7/31/2023, interest in a $125,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $125,018,715 on 8/1/2023, in which corporate bonds, medium-term notes and U.S. Government Agency securities with a market value of $127,519,090 have been received as collateral and held with BNY Mellon as tri-party agent. | 120,701,000 | |
175,000,000 | J.P. Morgan Securities LLC, 5.57%, dated 7/17/2023, interest in a $750,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $753,481,250 on 8/16/2023, in which corporate bonds with a market value of $765,000,001 have been received as collateral and held with BNY Mellon as tri-party agent. | 175,000,000 | |
50,000,000 | Mizuho Securities USA LLC, 5.42%, dated 7/31/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,037,639 on 8/1/2023, in which asset-backed securities and corporate bonds with a market value of $255,038,392 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
85,000,000 | Mizuho Securities USA LLC, 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023, in which common stocks with a market value of $153,023,270 have been received as collateral and held with BNY Mellon as tri-party agent. | 85,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 34,701,000 | Mitsubishi UFG Securities Americas, Inc., 5.47%, dated 7/31/2023, interest in a $400,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $400,060,778 on 8/1/2023, in which asset-backed securities, common stocks, commercial paper, corporate bonds, exchange-traded funds, mutual funds and a unit investment trust with a market value of $408,062,040 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 34,701,000 | |
500,000,000 | Mitsubishi UFG Securities Americas, Inc., 5.30%, dated 7/31/2023, interest in a $1,650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,650,242,917 on 8/1/2023, in which U.S. Government Agency securities with a market value of $1,689,159,558 have been received as collateral and held with BNY Mellon as tri-party agent. | 500,000,000 | |
135,000,000 | Pershing LLC, 5.57%, dated 7/14/2022, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,324,917 on 8/10/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, commercial paper, common stocks, convertible bonds, exchange-traded funds, medium-term notes, municipal bonds, mutual funds and U.S. Government Agency securities with a market value of $306,048,424 have been received as collateral and held with BNY Mellon as tri-party agent. | 135,000,000 | |
125,000,000 | Societe Generale, Paris, 5.38%, dated 7/31/2023, interest in a $450,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $450,067,250 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $459,069,163 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
301,701,000 | Societe Generale, Paris, 5.47%, dated 7/31/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,098,764 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,196,426 have been received as collateral and held with BNY Mellon as tri-party agent. | 301,701,000 | |
125,000,000 | Wells Fargo Securities LLC, 5.96%, dated 2/3/2022, interest in a $125,000,000 collateralized loan agreement will repurchase securities provided as collateral for $126,862,500 on 10/25/2023, in which convertible bonds with a market value of $127,607,153 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $3,911,804,000) | 3,911,804,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— 9.0% | |||
Finance - Banking— 9.0% | |||
$1,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $1,000,147,222 on 8/1/2023. 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 2/15/2031 and the market value of those underlying securities was $1,000,147,277. | $ 1,000,000,000 | |
85,701,000 | Interest in $150,000,000 joint repurchase agreement 5.38%, dated 7/31/2023 under which Standard Chartered Bank will repurchase securities provided as collateral for $150,022,417 on 8/1/2023. 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 2/20/2053 and the market value of those underlying securities was $153,661,399. | 85,701,000 | |
513,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,441,667 on 8/1/2023. 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 10/20/2052 and the market value of those underlying securities was $3,060,450,501. | 513,000,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $1,598,701,000) | 1,598,701,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.7% (IDENTIFIED COST $17,825,902,574)4 | 17,824,536,685 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.7)%5 | (120,601,475) | ||
TOTAL NET ASSETS—100% | $17,703,935,210 |
1 | 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. |
2 | Denotes a restricted security that either: (a) cannot be offered for public sale without first being registered, or availing of an exemption from registration, under the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At July 31, 2023, these restricted securities amounted to $150,098,965, which represented 0.9% of total net assets. |
3 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
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 acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MHF | —Maryland Housing Fund | |
SOFR | —Secured Overnight Financing Rate | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9998 | $1.0005 | $1.0007 | $1.0004 | $1.0003 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.04131 | 0.00371 | 0.0008 | 0.0136 | 0.0239 |
Net realized and unrealized gain (loss) | 0.0004 | (0.0008) | (0.0002) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0417 | 0.0029 | 0.0006 | 0.0139 | 0.0240 |
Less Distributions: | |||||
Distributions from net investment income | (0.0413) | (0.0036) | (0.0008) | (0.0136) | (0.0239) |
Net Asset Value, End of Period | $1.0002 | $0.9998 | $1.0005 | $1.0007 | $1.0004 |
Total Return2 | 4.25% | 0.29% | 0.05% | 1.39% | 2.43% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.18% | 0.16% | 0.15% | 0.15% | 0.15% |
Net investment income | 4.17% | 0.38% | 0.08% | 1.37% | 2.41% |
Expense waiver/reimbursement4 | 0.10% | 0.12% | 0.13% | 0.13% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $17,694,479 | $14,232,133 | $15,298,656 | $23,611,390 | $21,146,776 |
1 | Per share numbers have been calculated using the average shares method. |
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, 2023
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $5,510,505,000 |
Investment in securities | 12,314,031,685 |
Investment in securities, at value (identified cost $17,825,902,574) | 17,824,536,685 |
Cash | 295,217 |
Income receivable | 49,377,047 |
Receivable for shares sold | 300 |
Total Assets | 17,874,209,249 |
Liabilities: | |
Payable for investments purchased | 105,490,000 |
Income distribution payable | 64,305,124 |
Payable for investment adviser fee (Note 5) | 46,750 |
Payable for administrative fee (Note 5) | 37,755 |
Payable for other service fees (Notes 2 and 5) | 1,987 |
Accrued expenses (Note 5) | 392,423 |
Total Liabilities | 170,274,039 |
Net assets for 17,700,510,830 shares outstanding | $17,703,935,210 |
Net Assets Consist of: | |
Paid-in capital | $17,706,702,421 |
Total distributable earnings (loss) | (2,767,211) |
Total Net Assets | $17,703,935,210 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$17,694,479,093 ÷ 17,691,055,975 shares outstanding, no par value, unlimited shares authorized | $1.0002 |
Service Shares: | |
$9,456,017 ÷ 9,454,755 shares outstanding, no par value, unlimited shares authorized | $1.0001 |
Capital Shares:1 | |
$100 ÷ 100 shares outstanding, no par value, unlimited shares authorized | $1.0010 |
1 | Actual net asset value per share presented differs from calculated net asset value per share due to rounding. |
Year Ended July 31, 2023
Investment Income: | |
Interest | $678,390,195 |
Expenses: | |
Investment adviser fee (Note 5) | 31,167,638 |
Administrative fee (Note 5) | 12,178,462 |
Custodian fees | 474,207 |
Transfer agent fees | 69,664 |
Directors’/Trustees’ fees (Note 5) | 79,652 |
Auditing fees | 26,365 |
Legal fees | 11,617 |
Portfolio accounting fees | 212,366 |
Other service fees (Notes 2 and 5) | 27,682 |
Share registration costs | 212,229 |
Printing and postage | 23,272 |
Miscellaneous (Note 5) | 96,110 |
TOTAL EXPENSES | 44,579,264 |
Waiver of investment adviser fee (Note 5) | (15,737,102) |
Net expenses | 28,842,162 |
Net investment income | 649,548,033 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments | 15,265 |
Net change in unrealized depreciation of investments | 6,541,277 |
Net realized and unrealized gain (loss) on investments | 6,556,542 |
Change in net assets resulting from operations | $656,104,575 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $649,548,033 | $50,302,148 |
Net realized gain (loss) | 15,265 | 54,512 |
Net change in unrealized appreciation/depreciation | 6,541,277 | (9,036,105) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 656,104,575 | 41,320,555 |
Distributions to Shareholders: | ||
Institutional Shares | (649,195,047) | (50,220,717) |
Service Shares | (426,273) | (41,365) |
Capital Shares | (4) | (48) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (649,621,324) | (50,262,130) |
Share Transactions: | ||
Proceeds from sale of shares | 28,884,149,698 | 24,614,918,258 |
Net asset value of shares issued to shareholders in payment of distributions declared | 118,901,284 | 8,299,365 |
Cost of shares redeemed | (25,550,445,108) | (25,705,000,012) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 3,452,605,874 | (1,081,782,389) |
Change in net assets | 3,459,089,125 | (1,090,723,964) |
Net Assets: | ||
Beginning of period | 14,244,846,085 | 15,335,570,049 |
End of period | $17,703,935,210 | $14,244,846,085 |
Other Service Fees Incurred | |
Service Shares | $27,682 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 28,648,286,991 | $28,649,705,120 | 24,232,087,166 | $24,233,003,776 |
Shares issued to shareholders in payment of distributions declared | 118,642,194 | 118,655,465 | 8,283,360 | 8,282,176 |
Shares redeemed | (25,311,215,185) | (25,312,491,758) | (25,296,641,390) | (25,298,888,431) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 3,455,714,000 | $3,455,868,827 | (1,056,270,864) | $(1,057,602,479) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 234,441,238 | $234,444,578 | 381,843,923 | $381,914,482 |
Shares issued to shareholders in payment of distributions declared | 245,807 | 245,819 | 17,154 | 17,151 |
Shares redeemed | (237,949,220) | (237,953,350) | (401,541,566) | (401,611,014) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (3,262,175) | $(3,262,953) | (19,680,489) | $(19,679,381) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | — | $— |
Shares issued to shareholders in payment of distributions declared | — | — | 38 | 38 |
Shares redeemed | — | — | (4,498,390) | (4,500,567) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | — | $— | (4,498,352) | $(4,500,529) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 3,452,451,825 | $3,452,605,874 | (1,080,449,705) | $(1,081,782,389) |
2023 | 2022 | |
Ordinary income | $649,621,324 | $50,262,130 |
Distributions payable | $(15,864) |
Net unrealized depreciation | $(1,365,889) |
Capital loss carryforwards | $(1,385,458) |
TOTAL | $(2,767,211) |
Short-Term | Long-Term | Total |
$1,385,458 | $— | $1,385,458 |
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 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period | |
Actual | $1,000.00 | $1,024.60 | $0.90 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,023.90 | $0.90 |
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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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 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 |
Other Repurchase Agreements and Repurchase Agreements | 31.2% |
Variable Rate Instruments | 28.4% |
Bank Instruments | 23.2% |
Commercial Paper | 17.3% |
Other Assets and Liabilities—Net3 | (0.1)% |
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— 99.1% | |||
12,704,233,668 | Federated Hermes Institutional Prime Obligations Fund, Institutional Shares, 5.32%1 (IDENTIFIED COST $12,711,517,982) | $12,706,774,515 | |
OTHER REPURCHASE AGREEMENTS— 0.4% | |||
Finance - Banking— 0.4% | |||
$ 50,000,000 | HSBC Securities (USA), Inc., 5.42%, dated 7/31/2023, interest in a $310,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $310,046,672 on 8/1/2023, in which corporate bonds, medium-term notes and sovereign securities with a market value of $316,200,000 have been received as collateral and held with BNY Mellon as tri-party agent. (IDENTIFIED COST $50,000,000) | 50,000,000 | |
TOTAL INVESTMENT IN SECURITIES—99.5% (IDENTIFIED COST $12,761,517,982)2 | 12,756,774,515 | ||
OTHER ASSETS AND LIABILITIES - NET—0.5%3 | 67,442,947 | ||
TOTAL NET ASSETS—100% | $12,824,217,462 |
Federated Hermes Institutional Prime Obligations Fund, Institutional Shares | |
Value as of 7/31/2022 | $10,294,155,651 |
Purchases at Cost | $12,578,551,900 |
Proceeds from Sales | $(10,170,453,600) |
Change in Unrealized Appreciation/Depreciation | $3,395,030 |
Net Realized Gain/(Loss) | $1,125,534 |
Value as of 7/31/2023 | $12,706,774,515 |
Shares Held as of 7/31/2023 | 12,704,233,668 |
Dividend Income | $474,185,907 |
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, 2023, 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 | $12,706,774,515 | $— | $— | $12,706,774,515 |
Repurchase Agreement | — | 50,000,000 | — | 50,000,000 |
TOTAL SECURITIES | $12,706,774,515 | $50,000,000 | $— | $12,756,774,515 |
Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9995 | $1.0004 | $1.0006 | $1.0003 | $1.0002 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.0413 | 0.0036 | 0.0008 | 0.0136 | 0.0239 |
Net realized and unrealized gain (loss) | 0.0004 | (0.0008) | (0.0002) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0417 | 0.0028 | 0.0006 | 0.0139 | 0.0240 |
Less Distributions: | |||||
Distributions from net investment income | (0.0413) | (0.0036) | (0.0008) | (0.0136) | (0.0239) |
Distributions from net realized gain | — | (0.0001) | (0.0000)1 | (0.0000)1 | (0.0000)1 |
Total Distributions | (0.0413) | (0.0037) | (0.0008) | (0.0136) | (0.0239) |
Net Asset Value, End of Period | $0.9999 | $0.9995 | $1.0004 | $1.0006 | $1.0003 |
Total Return2 | 4.25% | 0.28% | 0.06% | 1.39% | 2.43% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.00%4 | —% | —% | 0.00%4 | —% |
Net investment income | 4.18% | 0.35% | 0.08% | 1.36% | 2.41% |
Expense waiver/reimbursement5 | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $12,250,590 | $9,946,892 | $12,120,572 | $15,937,441 | $13,599,422 |
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 ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
July 31, 2023
Assets: | |
Investment in securities, at value including $12,706,774,515 of investments in affiliated holdings* (identified cost $12,761,517,982, including $12,711,517,982 of identified cost in affiliated holdings) | $12,756,774,515 |
Cash | 890,050 |
Income receivable | 7,527 |
Income receivable from affiliated holdings | 56,368,697 |
Receivable for shares sold | 72,936,110 |
Total Assets | 12,886,976,899 |
Liabilities: | |
Payable for shares redeemed | 28,338,312 |
Income distribution payable | 33,985,673 |
Payable to investment adviser (Note 5) | 18,092 |
Payable for administrative fee (Note 5) | 27,227 |
Payable for other service fees (Notes 2 and 5) | 99,272 |
Accrued expenses (Note 5) | 290,861 |
Total Liabilities | 62,759,437 |
Net assets for 12,825,728,030 shares outstanding | $12,824,217,462 |
Net Assets Consist of: | |
Paid-in capital | $12,829,272,288 |
Total distributable earnings (loss) | (5,054,826) |
Total Net Assets | $12,824,217,462 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$12,250,590,283 ÷ 12,252,032,441 shares outstanding, no par value, unlimited shares authorized | $0.9999 |
Service Shares: | |
$567,683,016 ÷ 567,750,503 shares outstanding, no par value, unlimited shares authorized | $0.9999 |
Capital Shares: | |
$5,944,163 ÷ 5,945,086 shares outstanding, no par value, unlimited shares authorized | $0.9998 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31, 2023
Investment Income: | |
Dividends received from affiliated holdings* | $474,185,907 |
Interest | 2,126,387 |
TOTAL INCOME | 476,312,294 |
Expenses: | |
Investment adviser fee (Note 5) | 22,762,449 |
Administrative fee (Note 5) | 8,892,426 |
Custodian fees | 321,883 |
Transfer agent fees | 106,722 |
Directors’/Trustees’ fees (Note 5) | 56,389 |
Auditing fees | 26,365 |
Legal fees | 11,618 |
Portfolio accounting fees | 219,300 |
Other service fees (Notes 2 and 5) | 1,118,741 |
Share registration costs | 333,824 |
Printing and postage | 39,952 |
Miscellaneous (Note 5) | 161,267 |
TOTAL EXPENSES | 34,050,936 |
Waiver and Reimbursements: | |
Waiver/reimbursement of investment adviser fee (Note 5) | (22,762,449) |
Reimbursement of other operating expenses (Notes 2 and 5) | (10,098,822) |
TOTAL WAIVER AND REIMBURSEMENTS | (32,861,271) |
Net expenses | 1,189,665 |
Net investment income | 475,122,629 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments in affiliated holdings* | 1,125,534 |
Net change in unrealized depreciation of investments in affiliated holdings* | 3,395,030 |
Net realized and unrealized gain (loss) on investments | 4,520,564 |
Change in net assets resulting from operations | $479,643,193 |
* | See information listed after the Fund’s Portfolio of Investments. |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $475,122,629 | $34,665,085 |
Net realized gain (loss) | 1,125,534 | (1,328,799) |
Net change in unrealized appreciation/depreciation | 3,395,030 | (6,111,897) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 479,643,193 | 27,224,389 |
Distributions to Shareholders: | ||
Institutional Shares | (456,986,602) | (34,900,178) |
Service Shares | (17,839,842) | (972,903) |
Capital Shares | (297,852) | (35,840) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (475,124,296) | (35,908,921) |
Share Transactions: | ||
Proceeds from sale of shares | 41,835,474,572 | 38,690,164,420 |
Net asset value of shares issued to shareholders in payment of distributions declared | 169,328,107 | 10,482,549 |
Cost of shares redeemed | (39,513,449,330) | (41,207,066,452) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 2,491,353,349 | (2,506,419,483) |
Change in net assets | 2,495,872,246 | (2,515,104,015) |
Net Assets: | ||
Beginning of period | 10,328,345,216 | 12,843,449,231 |
End of period | $12,824,217,462 | $10,328,345,216 |
Other Service Fees Incurred | |
Service Shares | $1,111,099 |
Capital Shares | 7,642 |
TOTAL | $1,118,741 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 41,150,980,564 | $41,141,014,548 | 38,562,278,787 | $38,557,456,148 |
Shares issued to shareholders in payment of distributions declared | 151,505,640 | 151,478,912 | 9,493,387 | 9,489,444 |
Shares redeemed | (39,002,504,601) | (38,993,166,012) | (40,735,979,904) | (40,732,381,207) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 2,299,981,603 | $2,299,327,448 | (2,164,207,730) | $(2,165,435,615) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 691,989,213 | $691,857,989 | 127,450,141 | $127,416,583 |
Shares issued to shareholders in payment of distributions declared | 17,554,792 | 17,551,569 | 957,705 | 957,294 |
Shares redeemed | (514,497,010) | (514,381,513) | (457,418,370) | (457,394,097) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 195,046,995 | $195,028,045 | (329,010,524) | $(329,020,220) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,603,475 | $2,602,035 | 5,292,088 | $5,291,689 |
Shares issued to shareholders in payment of distributions declared | 297,715 | 297,626 | 35,826 | 35,811 |
Shares redeemed | (5,902,912) | (5,901,805) | (17,295,855) | (17,291,148) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (3,001,722) | $(3,002,144) | (11,967,941) | $(11,963,648) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 2,492,026,876 | $2,491,353,349 | (2,505,186,195) | $(2,506,419,483) |
2023 | 2022 | |
Ordinary income | $475,124,296 | $34,608,506 |
Long-term capital gains | $— | $1,300,415 |
Distributions payable | $(108,094) |
Net unrealized depreciation | $(4,743,467) |
Capital loss carryforwards | $(203,265) |
TOTAL | $(5,054,826) |
Short-Term | Long-Term | Total |
$203,265 | $— | $203,265 |
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 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,024.60 | $—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 $1.00 and $1.00, respectively. |
Security Type | Percentage of Total Net Assets |
Other Repurchase Agreements and Repurchase Agreements | 31.1% |
Variable Rate Instruments | 28.7% |
Bank Instruments | 23.4% |
Commercial Paper | 17.5% |
Other Assets and Liabilities—Net2 | (0.7)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of 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 | 75.6% |
8-30 Days | 3.8% |
31-90 Days | 5.8% |
91-180 Days | 9.0% |
181 Days or more | 6.5% |
Other Assets and Liabilities—Net3 | (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 | Overnight securities comprised 31.6% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— 28.7% | ||
Finance - Banking— 25.4% | |||
$ 50,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | $ 49,958,101 | |
71,000,000 | Bank of Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 70,927,032 | |
69,500,000 | Bank of Montreal, 5.750% (SOFR +0.450%), 8/1/2023 | 69,531,344 | |
55,000,000 | Bank of Montreal, 5.900% (SOFR +0.600%), 8/1/2023 | 55,014,473 | |
40,000,000 | Bank of Montreal, 5.980% (SOFR +0.680%), 8/1/2023 | 40,047,572 | |
60,000,000 | Bank of Montreal, 6.000% (SOFR +0.700%), 8/1/2023 | 60,000,000 | |
25,000,000 | Bank of Nova Scotia, Toronto, 5.610% (SOFR +0.310%), 8/1/2023 | 24,978,121 | |
73,000,000 | Bank of Nova Scotia, Toronto, 5.680% (SOFR +0.380%), 8/1/2023 | 72,978,042 | |
10,000,000 | Bank of Nova Scotia, Toronto, 5.710% (SOFR +0.410%), 8/1/2023 | 9,999,505 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.740% (SOFR +0.440%), 8/1/2023 | 50,017,279 | |
35,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 35,000,000 | |
43,500,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 43,500,000 | |
20,000,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 20,000,000 | |
23,500,000 | Bank of Nova Scotia, Toronto, 5.850% (SOFR +0.550%), 8/1/2023 | 23,520,496 | |
22,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 22,000,000 | |
10,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 10,000,000 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 50,055,847 | |
100,000,000 | Bank of Nova Scotia, Toronto, 5.900% (SOFR +0.600%), 8/1/2023 | 100,081,760 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.950% (SOFR +0.650%), 8/1/2023 | 50,016,577 | |
100,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.660%), 8/1/2023 | 100,100,252 |
30,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.450% (SOFR +0.150%), 8/1/2023 | 30,000,000 | |
30,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.620% (SOFR +0.320%), 8/1/2023 | 30,000,000 | |
95,000,000 | Bedford Row Funding Corp., (Royal Bank of Canada GTD), 5.700% (SOFR +0.400%), 8/1/2023 | 95,000,009 | |
70,000,000 | BPCE S.A., 5.630% (SOFR +0.330%), 8/1/2023 | 70,000,000 | |
69,500,000 | Canadian Imperial Bank of Commerce, 5.760% (SOFR +0.460%), 8/1/2023 | 69,539,523 | |
175,000,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 175,283,855 | |
75,000,000 | Canadian Imperial Bank of Commerce, 5.950% (SOFR +0.650%), 8/1/2023 | 75,123,367 | |
9,900,000 | City Furniture, Inc., (Wells Fargo Bank, N.A. LOC), 5.440%, 8/3/2023 | 9,900,000 | |
25,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.760% (SOFR +0.460%), 8/1/2023 | 25,001,304 | |
50,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 50,000,274 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 125,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.830% (SOFR +0.530%), 8/1/2023 | $ 125,013,781 | |
30,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.520% (SOFR +0.220%), 8/1/2023 | 30,000,000 | |
45,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.530% (SOFR +0.230%), 8/1/2023 | 45,000,000 | |
20,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.780% (SOFR +0.480%), 8/1/2023 | 20,000,109 | |
16,700,000 | Greene County Development Authority, Reynolds Lodge, LLC, Series 2000B, (U.S. Bank, N.A. LOC), 5.200%, 8/2/2023 | 16,700,000 | |
7,595,000 | Gulf Gate Apartments LLC, Series 2003, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 7,595,000 | |
11,180,000 | Hamilton Station Park and Ride, Series 2005, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 11,180,000 | |
60,000,000 | ING (U.S.) Funding LLC, 5.460% (SOFR +0.150%), 8/1/2023 | 60,000,000 | |
40,000,000 | Iowa Student Loan Liquidity Corp., Series 2023-1, Weekly VRDNs, (Royal Bank of Canada LOC), 5.370%, 8/3/2023 | 40,000,000 | |
24,345,000 | Matchpoint Finance PLC, (BNP Paribas S.A. LIQ), 5.610% (SOFR +0.310%), 8/1/2023 | 24,345,648 | |
10,000,000 | Mizuho Bank Ltd., 5.690% (SOFR +0.380%), 8/1/2023 | 10,000,000 | |
50,000,000 | National Australia Bank Ltd., Melbourne, 5.510% (SOFR +0.210%), 8/1/2023 | 49,996,607 | |
67,500,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 67,452,494 | |
70,000,000 | National Australia Bank Ltd., Melbourne, 5.550% (SOFR +0.250%), 8/1/2023 | 69,948,389 | |
22,500,000 | National Australia Bank Ltd., Melbourne, 5.840% (SOFR +0.540%), 8/1/2023 | 22,519,841 | |
96,500,000 | National Australia Bank Ltd., Melbourne, 5.860% (SOFR +0.560%), 8/1/2023 | 96,500,000 | |
75,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 74,921,895 | |
70,000,000 | National Bank of Canada, Montreal, 5.550% (SOFR +0.250%), 8/1/2023 | 69,925,416 | |
125,000,000 | Nordea Bank Abp, 5.720% (SOFR +0.420%), 8/1/2023 | 125,000,000 | |
34,000,000 | Nuveen Floating Rate Income Fund, Series A, (Sumitomo Mitsui Banking Corp. LOC), 5.500%, 8/3/2023 | 34,000,000 | |
2,415,000 | Public Building Corp. Springfield, MO, Jordan Valley Ice Park, Series 2003, (U.S. Bank, N.A. LOC), 5.400%, 8/3/2023 | 2,415,000 | |
50,000,000 | Ridgefield Funding Co. LLC, Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | 49,999,955 | |
50,000,000 | 2 | Ridgefield Funding Co. LLC, Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.290%), 8/1/2023 | 49,998,713 |
35,000,000 | Royal Bank of Canada, New York Branch, 5.870% (SOFR +0.570%), 8/1/2023 | 35,000,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 95,000,000 | Royal Bank of Canada, New York Branch, 5.880% (SOFR +0.580%), 8/1/2023 | $ 95,000,000 | |
70,000,000 | Royal Bank of Canada, New York Branch, 5.900% (SOFR +0.600%), 8/1/2023 | 70,038,734 | |
18,965,000 | Salem Green, LLLP, Salem Green Apartments Project, Series 2010, (Wells Fargo Bank, N.A. LOC), 5.420%, 8/3/2023 | 18,965,000 | |
120,000,000 | State Street Bank and Trust Co., 5.460% (SOFR +0.150%), 8/1/2023 | 120,000,000 | |
12,000,000 | Sumitomo Mitsui Banking Corp., 5.680% (SOFR +0.380%), 8/1/2023 | 12,000,000 | |
200,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.590% (SOFR +0.290%), 8/1/2023 | 200,000,000 | |
100,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.610% (SOFR +0.310%), 8/1/2023 | 100,017,437 | |
25,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.680% (SOFR +0.380%), 8/1/2023 | 25,000,000 | |
125,000,000 | Svenska Handelsbanken, Stockholm, 5.460% (SOFR +0.150%), 8/1/2023 | 125,000,000 | |
30,000,000 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 30,012,600 | |
75,000,000 | Svenska Handelsbanken, Stockholm, 5.710% (SOFR +0.400%), 8/1/2023 | 75,032,188 | |
110,000,000 | Svenska Handelsbanken, Stockholm, 5.730% (SOFR +0.420%), 8/1/2023 | 110,000,000 | |
65,000,000 | Svenska Handelsbanken, Stockholm, 5.760% (SOFR +0.450%), 8/1/2023 | 65,029,053 | |
100,699,637 | Taxable Tender Option Bond Trust 2021-MIZ9060TX, (Series 2021-MIZ9060TX) VRDNs, (Mizuho Bank Ltd. GTD)/(Mizuho Bank Ltd. LIQ), 5.720%, 8/1/2023 | 100,699,637 | |
2,881,821 | Taxable Tender Option Bond Trust 2021-MIZ9077TX, (Series 2021-MIZ9077TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.590%, 8/1/2023 | 2,881,821 | |
2,207,606 | Taxable Tender Option Bond Trust 2021-MIZ9078TX, (Series 2021-MIZ9078TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.590%, 8/1/2023 | 2,207,606 | |
75,000,000 | Toronto Dominion Bank, 5.810% (SOFR +0.500%), 8/1/2023 | 75,045,369 | |
17,500,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 17,500,000 | |
27,500,000 | Toronto Dominion Bank, 5.890% (SOFR +0.580%), 8/1/2023 | 27,524,709 | |
50,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 8/1/2023 | 50,053,312 | |
147,500,000 | Wells Fargo Bank, N.A., 5.750% (SOFR +0.450%), 8/1/2023 | 147,575,824 | |
200,000,000 | Wells Fargo Bank, N.A., 5.900% (SOFR +0.600%), 8/1/2023 | 199,960,818 | |
30,000,000 | Wells Fargo Bank, N.A., 5.950% (SOFR +0.650%), 8/1/2023 | 30,013,919 | |
45,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 45,000,000 | |
22,500,000 | Westpac Banking Corp. Ltd., Sydney, 5.840% (SOFR +0.540%), 8/1/2023 | 22,500,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 5,870,000 | Yeshivas Novominsk, Series 2008, (TD Bank, N.A. LOC), 5.450%, 8/3/2023 | $ 5,870,000 | |
TOTAL | 4,498,015,608 | ||
Finance - Retail— 1.8% | |||
25,000,000 | Fairway Finance Co. LLC, 5.470% (SOFR +0.170%), 8/1/2023 | 25,000,000 | |
50,000,000 | Fairway Finance Co. LLC, 5.780% (SOFR +0.480%), 8/1/2023 | 50,027,282 | |
20,000,000 | Old Line Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 19,999,763 | |
10,000,000 | Old Line Funding, LLC, 5.650% (SOFR +0.340%), 8/1/2023 | 9,999,202 | |
39,000,000 | Sheffield Receivables Co. LLC, 5.620% (SOFR +0.320%), 8/1/2023 | 39,000,000 | |
100,000,000 | Thunder Bay Funding, LLC, 5.500% (SOFR +0.440%), 8/1/2023 | 100,000,000 | |
10,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 9,996,393 | |
25,000,000 | Thunder Bay Funding, LLC, 5.620% (SOFR +0.310%), 8/1/2023 | 24,999,083 | |
30,000,000 | Thunder Bay Funding, LLC, 5.830% (SOFR +0.520%), 8/1/2023 | 30,005,483 | |
TOTAL | 309,027,206 | ||
Government Agency— 1.5% | |||
15,535,000 | 1320 W Jefferson LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 15,535,000 | |
51,450,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 51,450,000 | |
6,830,000 | Baker Life Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,830,000 | |
34,645,000 | BWF Forge TL Properties Owner LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 34,645,000 | |
2,000,000 | Carmel Valley Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 2,000,000 | |
5,705,000 | Catania Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,705,000 | |
1,900,000 | CP Canyons WFH, LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 1,900,000 | |
4,270,000 | Jim Brooks Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 4,270,000 | |
11,570,000 | Joseph L. Goggins Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 11,570,000 | |
3,655,000 | Karyn Brooks Descendants Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 3,655,000 | |
6,380,000 | MHF DKF Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/2/2023 | 6,380,000 | |
17,030,000 | Mohr Green Associates, LP, Series 2012-A, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 17,030,000 | |
22,610,000 | NWD 2017 Family Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 22,610,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 9,080,000 | Park Stanton Place, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | $ 9,080,000 | |
8,000,000 | Plaza Fitzsimons Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/2/2023 | 8,000,000 | |
5,010,000 | R.J. Brooks Jr. Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 5,010,000 | |
6,980,000 | RK Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 6,980,000 | |
3,500,000 | Rohnert Park 668, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 8/3/2023 | 3,500,000 | |
6,255,000 | Sibley Family Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,255,000 | |
6,610,000 | The CLC Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/3/2023 | 6,610,000 | |
5,120,000 | The Eugene Kim Irrevocable Life Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,120,000 | |
22,830,000 | The Gregory P. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.400%, 8/2/2023 | 22,830,000 | |
5,740,000 | The Leopold Family Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.400%, 8/3/2023 | 5,740,000 | |
5,975,000 | The Thompson 2018 Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 8/3/2023 | 5,975,000 | |
TOTAL | 268,680,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $5,074,939,667) | 5,075,722,814 | ||
3 | COMMERCIAL PAPER— 17.5% | ||
Finance - Banking— 11.6% | |||
275,000,000 | Anglesea Funding LLC, 5.044% - 5.346%, 8/1/2023 - 8/7/2023 | 274,903,639 | |
25,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.499%, 12/5/2023 | 24,523,927 | |
119,500,000 | Bank of Montreal, 5.497%, 11/16/2023 | 117,548,326 | |
75,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 71,098,350 | |
375,000,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | 357,095,695 | |
100,000,000 | Chesham Finance LLC Series III, (Societe Generale, Paris COL), 5.394%, 8/31/2023 | 99,552,500 | |
210,000,000 | Citigroup Global Markets, Inc., 5.687% - 5.707%, 11/30/2023 - 12/6/2023 | 205,910,339 | |
60,000,000 | Credit Agricole Corporate and Investment Bank, 5.372%, 8/1/2023 | 60,000,000 | |
85,000,000 | DNB Bank ASA, 5.404%, 11/16/2023 | 83,625,040 | |
110,017,000 | Ridgefield Funding Co. LLC Series A, (BNP Paribas SA COL), 5.320%, 8/1/2023 | 110,017,000 | |
64,500,000 | Royal Bank of Canada, 4.049%, 8/23/2023 | 64,281,019 |
Principal Amount | Value | ||
3 | COMMERCIAL PAPER— continued | ||
Finance - Banking— continued | |||
$ 206,500,000 | Svenska Handelsbanken, Stockholm, 5.494% - 5.593%, 11/21/2023 - 11/28/2023 | $ 202,919,020 | |
80,000,000 | Toronto Dominion Bank, 5.350%, 2/6/2024 | 79,853,621 | |
60,000,000 | Toronto Dominion Bank, 5.800%, 5/16/2024 | 57,278,350 | |
250,000,000 | Victory Receivables Corp., (MUFG Bank Ltd. LIQ), 5.468%, 9/22/2023 | 248,042,778 | |
TOTAL | 2,056,649,604 | ||
Finance - Retail— 2.6% | |||
50,000,000 | Barton Capital SA, 5.449%, 8/4/2023 | 49,977,500 | |
329,500,000 | Chariot Funding LLC, 5.261% - 5.590%, 8/14/2023 - 11/1/2023 | 326,357,841 | |
40,000,000 | Old Line Funding, LLC, 5.143%, 11/3/2023 | 39,422,611 | |
30,000,000 | Old Line Funding, LLC, 5.710%, 12/15/2023 | 29,359,639 | |
12,500,000 | Thunder Bay Funding, LLC, 5.404%, 11/17/2023 | 12,292,105 | |
TOTAL | 457,409,696 | ||
Insurance— 1.0% | |||
175,000,000 | UnitedHealth Group, Inc., 5.333%, 8/1/2023 | 175,000,000 | |
Oil & Oil Finance— 1.2% | |||
220,000,000 | TotalEnergies Capital, 5.023% - 5.703%, 8/1/2023 - 11/27/2023 | 219,630,439 | |
Sovereign— 1.1% | |||
155,000,000 | BNG Bank N.V., 5.315% - 5.331%, 8/7/2023 - 8/10/2023 | 154,807,200 | |
30,000,000 | Export Development Canada, (Canada, Government of SUB), 5.203%, 11/9/2023 | 29,548,866 | |
TOTAL | 184,356,066 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $3,093,957,907) | 3,093,045,805 | ||
CERTIFICATES OF DEPOSIT— 13.6% | |||
Finance - Banking— 13.6% | |||
40,000,000 | Bank of America N.A., 5.440%, 2/7/2024 | 39,890,900 | |
37,500,000 | Bank of America N.A., 5.830%, 6/17/2024 | 37,450,594 | |
165,000,000 | Bank of Montreal, 5.470% - 5.820%, 1/8/2024 - 5/28/2024 | 164,739,281 | |
60,000,000 | Bank of Nova Scotia, Toronto, 5.400% - 5.410%, 11/15/2023 - 11/17/2023 | 59,966,417 | |
45,000,000 | BMO Harris Bank, N.A., 5.730%, 12/13/2023 | 45,010,935 | |
155,000,000 | Canadian Imperial Bank of Commerce, 5.250% - 5.800%, 2/5/2024 - 6/13/2024 | 154,783,983 | |
260,000,000 | Credit Agricole Corporate and Investment Bank, 5.250% - 5.390%, 8/1/2023 - 8/3/2023 | 260,000,000 | |
189,500,000 | DNB Bank ASA, 5.450%, 11/22/2023 | 189,432,557 | |
50,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.400%, 11/17/2023 | 49,966,088 | |
402,500,000 | Mizuho Bank Ltd., 5.380% - 5.420%, 8/15/2023 - 9/1/2023 | 402,500,000 | |
95,000,000 | MUFG Bank Ltd., 5.550%, 9/12/2023 | 95,000,000 |
Principal Amount | Value | ||
CERTIFICATES OF DEPOSIT— continued | |||
Finance - Banking— continued | |||
$ 95,000,000 | Nordea Bank Abp, 5.400%, 11/20/2023 | $ 94,939,695 | |
502,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.240% - 5.600%, 8/1/2023 - 11/3/2023 | 502,008,630 | |
70,000,000 | Toronto Dominion Bank, 5.200%, 2/2/2024 | 69,767,893 | |
70,000,000 | Toronto Dominion Bank, 5.250%, 1/25/2024 | 69,796,473 | |
165,000,000 | Toronto Dominion Bank, 5.440% - 6.050%, 2/13/2024 - 7/10/2024 | 165,009,620 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $2,401,500,000) | 2,400,263,066 | ||
TIME DEPOSITS— 9.8% | |||
Finance - Banking— 7.3% | |||
895,000,000 | ABN Amro Bank NV, 5.260% - 5.330%, 8/1/2023 - 8/4/2023 | 895,000,000 | |
200,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.250%, 8/1/2023 | 200,000,000 | |
200,000,000 | Mizuho Bank Ltd., 5.330%, 8/1/2023 | 200,000,000 | |
TOTAL | 1,295,000,000 | ||
Sovereign— 2.5% | |||
450,000,000 | NRW.Bank, 5.275% - 5.310%, 8/2/2023 - 8/7/2023 | 450,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $1,745,000,000) | 1,745,000,000 | ||
OTHER REPURCHASE AGREEMENTS— 22.1% | |||
Finance - Banking— 22.1% | |||
25,000,000 | BMO Capital Markets Corp., 5.42%, dated 7/31/2023, interest in a $425,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $425,063,986 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, U.S. Government Agency securities, medium-term notes, sovereign debt and treasury notes with a market value of $433,680,962 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
359,701,000 | BNP Paribas S.A., 5.40%, dated 7/31/2023, interest in a $1,075,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,075,161,250 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, U.S. Government Agency securities, medium-term notes, sovereign debt and treasury notes with a market value of $1,097,015,812 have been received as collateral and held with BNY Mellon as tri-party agent. | 359,701,000 | |
50,000,000 | BNP Paribas S.A., 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023, in which asset-backed securities and corporate bonds with a market value of $153,023,254 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 100,000,000 | BofA Securities, Inc., 5.94%, dated 9/4/2020, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $101,485,000 on 11/1/2023, in which American depositary receipts, convertible bonds, exchange-traded funds and medium-term notes with a market value of $102,470,306 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 100,000,000 | |
115,000,000 | BofA Securities, Inc., 5.35%, dated 7/31/2023, interest in a $125,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $125,018,576 on 8/1/2023, in which commercial paper with a market value of $127,518,948 has been received as collateral and held with BNY Mellon as tri-party agent. | 115,000,000 | |
150,000,000 | BofA Securities, Inc., 5.41%, dated 12/13/2022, interest in a $165,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $165,173,571 on 8/10/2023, in which corporate bonds with a market value of $168,325,895 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
200,000,000 | BofA Securities, Inc., 5.85%, dated 12/6/2022, interest in a $225,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $226,279,688 on 9/7/2023, in which asset-backed securities, collateralized mortgage obligations, commercial paper and municipal bonds with a market value of $229,537,294 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 | |
250,000,000 | BofA Securities, Inc., 5.94%, dated 9/9/2020, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $253,712,500 on 11/1/2023, in which American depositary receipts, convertible bonds and medium-term notes with a market value of $256,175,764 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
300,000,000 | Citigroup Global Markets, Inc., 5.43%, dated 7/31/2023, interest in a $1,300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,300,196,083 on 8/1/2023, in which treasury bonds and treasury notes with a market value of $1,326,200,057 have been received as collateral and held with BNY Mellon as tri-party agent. | 300,000,000 | |
235,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 7/6/2023, interest in a $900,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $900,962,500 on 8/10/2023, in which treasury bonds with a market value of $921,505,810 have been received as collateral and held with BNY Mellon as tri-party agent. | 235,000,000 | |
75,000,000 | Credit Agricole S.A., 5.37%, dated 4/20/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,044,750 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and sovereign debt with a market value of $306,045,774 have been received as collateral and held with BNY Mellon as tri-party agent. | 75,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 75,000,000 | Credit Agricole S.A., 5.37%, dated 4/21/2023, interest in a $350,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $350,052,208 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $357,053,252 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 75,000,000 | |
210,000,000 | Credit Agricole S.A., 5.37%, dated 2/17/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,096,958 on 8/4/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds and medium-term notes with a market value of $663,098,897 have been received as collateral and held with BNY Mellon as tri-party agent. | 210,000,000 | |
65,000,000 | Credit Agricole S.A., 5.47%, dated 2/17/2023, interest in a $200,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $200,212,722 on 8/10/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $211,172,145 have been received as collateral and held with BNY Mellon as tri-party agent. | 65,000,000 | |
50,000,000 | HSBC Securities (USA), Inc., 5.42%, dated 7/31/2023, interest in a $310,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $310,046,672 on 8/1/2023, in which corporate bonds, medium-term notes and sovereign debt with a market value of $316,200,000 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
120,701,000 | ING Financial Markets LLC, 5.39%, dated 7/31/2023, interest in a $125,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $125,018,715 on 8/1/2023, in which corporate bonds, medium-term notes and U.S. Government Agency securities with a market value of $127,519,090 have been received as collateral and held with BNY Mellon as tri-party agent. | 120,701,000 | |
175,000,000 | J.P. Morgan Securities LLC, 5.57%, dated 7/17/2023, interest in a $750,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $753,481,250 on 8/16/2023, in which corporate bonds with a market value of $765,000,001 have been received as collateral and held with BNY Mellon as tri-party agent. | 175,000,000 | |
50,000,000 | Mizuho Securities USA LLC, 5.42%, dated 7/31/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,037,639 on 8/1/2023, in which asset-backed securities and corporate bonds with a market value of $255,038,392 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
85,000,000 | Mizuho Securities USA LLC, 5.47%, dated 7/31/2023, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,792 on 8/1/2023, in which common stocks with a market value of $153,023,270 have been received as collateral and held with BNY Mellon as tri-party agent. | 85,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 34,701,000 | Mitsubishi UFG Securities Americas, Inc., 5.47%, dated 7/31/2023, interest in a $400,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $400,060,778 on 8/1/2023, in which asset-backed securities, common stocks, commercial paper, corporate bonds, exchange-traded funds, mutual funds and a unit investment trust with a market value of $408,062,040 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 34,701,000 | |
500,000,000 | Mitsubishi UFG Securities Americas, Inc., 5.30%, dated 7/31/2023, interest in a $1,650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,650,242,917 on 8/1/2023, in which U.S. Government Agency securities with a market value of $1,689,159,558 have been received as collateral and held with BNY Mellon as tri-party agent. | 500,000,000 | |
135,000,000 | Pershing LLC, 5.57%, dated 7/14/2022, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,324,917 on 8/10/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, commercial paper, common stocks, convertible bonds, exchange-traded funds, medium-term notes, municipal bonds, mutual funds and U.S. Government Agency securities with a market value of $306,048,424 have been received as collateral and held with BNY Mellon as tri-party agent. | 135,000,000 | |
125,000,000 | Societe Generale, Paris, 5.38%, dated 7/31/2023, interest in a $450,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $450,067,250 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $459,069,163 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
301,701,000 | Societe Generale, Paris, 5.47%, dated 7/31/2023, interest in a $650,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $650,098,764 on 8/1/2023, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $663,196,426 have been received as collateral and held with BNY Mellon as tri-party agent. | 301,701,000 | |
125,000,000 | Wells Fargo Securities LLC, 5.96%, dated 2/3/2022, interest in a $125,000,000 collateralized loan agreement will repurchase securities provided as collateral for $126,862,500 on 10/25/2023, in which convertible bonds with a market value of $127,607,153 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $3,911,804,000) | 3,911,804,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— 9.0% | |||
Finance - Banking— 9.0% | |||
$1,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $1,000,147,222 on 8/1/2023. 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 2/15/2031 and the market value of those underlying securities was $1,000,147,277. | $ 1,000,000,000 | |
85,701,000 | Interest in $150,000,000 joint repurchase agreement 5.38%, dated 7/31/2023 under which Standard Chartered Bank will repurchase securities provided as collateral for $150,022,417 on 8/1/2023. 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 2/20/2053 and the market value of those underlying securities was $153,661,399. | 85,701,000 | |
513,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,441,667 on 8/1/2023. 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 10/20/2052 and the market value of those underlying securities was $3,060,450,501. | 513,000,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $1,598,701,000) | 1,598,701,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.7% (IDENTIFIED COST $17,825,902,574)4 | 17,824,536,685 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.7)%5 | (120,601,475) | ||
TOTAL NET ASSETS—100% | $17,703,935,210 |
1 | 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. |
2 | Denotes a restricted security that either: (a) cannot be offered for public sale without first being registered, or availing of an exemption from registration, under the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At July 31, 2023, these restricted securities amounted to $150,098,965, which represented 0.9% of total net assets. |
3 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
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 acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MHF | —Maryland Housing Fund | |
SOFR | —Secured Overnight Financing Rate | |
VRDNs | —Variable Rate Demand Notes |
Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $0.9998 | $1.0005 | $1.0007 | $1.0004 | $1.0003 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.04131 | 0.00371 | 0.0008 | 0.0136 | 0.0239 |
Net realized and unrealized gain (loss) | 0.0004 | (0.0008) | (0.0002) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0417 | 0.0029 | 0.0006 | 0.0139 | 0.0240 |
Less Distributions: | |||||
Distributions from net investment income | (0.0413) | (0.0036) | (0.0008) | (0.0136) | (0.0239) |
Net Asset Value, End of Period | $1.0002 | $0.9998 | $1.0005 | $1.0007 | $1.0004 |
Total Return2 | 4.25% | 0.29% | 0.05% | 1.39% | 2.43% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.18% | 0.16% | 0.15% | 0.15% | 0.15% |
Net investment income | 4.17% | 0.38% | 0.08% | 1.37% | 2.41% |
Expense waiver/reimbursement4 | 0.10% | 0.12% | 0.13% | 0.13% | 0.13% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $17,694,479 | $14,232,133 | $15,298,656 | $23,611,390 | $21,146,776 |
1 | Per share numbers have been calculated using the average shares method. |
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, 2023
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $5,510,505,000 |
Investment in securities | 12,314,031,685 |
Investment in securities, at value (identified cost $17,825,902,574) | 17,824,536,685 |
Cash | 295,217 |
Income receivable | 49,377,047 |
Receivable for shares sold | 300 |
Total Assets | 17,874,209,249 |
Liabilities: | |
Payable for investments purchased | 105,490,000 |
Income distribution payable | 64,305,124 |
Payable for investment adviser fee (Note 5) | 46,750 |
Payable for administrative fee (Note 5) | 37,755 |
Payable for other service fees (Notes 2 and 5) | 1,987 |
Accrued expenses (Note 5) | 392,423 |
Total Liabilities | 170,274,039 |
Net assets for 17,700,510,830 shares outstanding | $17,703,935,210 |
Net Assets Consist of: | |
Paid-in capital | $17,706,702,421 |
Total distributable earnings (loss) | (2,767,211) |
Total Net Assets | $17,703,935,210 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$17,694,479,093 ÷ 17,691,055,975 shares outstanding, no par value, unlimited shares authorized | $1.0002 |
Service Shares: | |
$9,456,017 ÷ 9,454,755 shares outstanding, no par value, unlimited shares authorized | $1.0001 |
Capital Shares:1 | |
$100 ÷ 100 shares outstanding, no par value, unlimited shares authorized | $1.0010 |
1 | Actual net asset value per share presented differs from calculated net asset value per share due to rounding. |
Year Ended July 31, 2023
Investment Income: | |
Interest | $678,390,195 |
Expenses: | |
Investment adviser fee (Note 5) | 31,167,638 |
Administrative fee (Note 5) | 12,178,462 |
Custodian fees | 474,207 |
Transfer agent fees | 69,664 |
Directors’/Trustees’ fees (Note 5) | 79,652 |
Auditing fees | 26,365 |
Legal fees | 11,617 |
Portfolio accounting fees | 212,366 |
Other service fees (Notes 2 and 5) | 27,682 |
Share registration costs | 212,229 |
Printing and postage | 23,272 |
Miscellaneous (Note 5) | 96,110 |
TOTAL EXPENSES | 44,579,264 |
Waiver of investment adviser fee (Note 5) | (15,737,102) |
Net expenses | 28,842,162 |
Net investment income | 649,548,033 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments | 15,265 |
Net change in unrealized depreciation of investments | 6,541,277 |
Net realized and unrealized gain (loss) on investments | 6,556,542 |
Change in net assets resulting from operations | $656,104,575 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $649,548,033 | $50,302,148 |
Net realized gain (loss) | 15,265 | 54,512 |
Net change in unrealized appreciation/depreciation | 6,541,277 | (9,036,105) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 656,104,575 | 41,320,555 |
Distributions to Shareholders: | ||
Institutional Shares | (649,195,047) | (50,220,717) |
Service Shares | (426,273) | (41,365) |
Capital Shares | (4) | (48) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (649,621,324) | (50,262,130) |
Share Transactions: | ||
Proceeds from sale of shares | 28,884,149,698 | 24,614,918,258 |
Net asset value of shares issued to shareholders in payment of distributions declared | 118,901,284 | 8,299,365 |
Cost of shares redeemed | (25,550,445,108) | (25,705,000,012) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 3,452,605,874 | (1,081,782,389) |
Change in net assets | 3,459,089,125 | (1,090,723,964) |
Net Assets: | ||
Beginning of period | 14,244,846,085 | 15,335,570,049 |
End of period | $17,703,935,210 | $14,244,846,085 |
Other Service Fees Incurred | |
Service Shares | $27,682 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 28,648,286,991 | $28,649,705,120 | 24,232,087,166 | $24,233,003,776 |
Shares issued to shareholders in payment of distributions declared | 118,642,194 | 118,655,465 | 8,283,360 | 8,282,176 |
Shares redeemed | (25,311,215,185) | (25,312,491,758) | (25,296,641,390) | (25,298,888,431) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 3,455,714,000 | $3,455,868,827 | (1,056,270,864) | $(1,057,602,479) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 234,441,238 | $234,444,578 | 381,843,923 | $381,914,482 |
Shares issued to shareholders in payment of distributions declared | 245,807 | 245,819 | 17,154 | 17,151 |
Shares redeemed | (237,949,220) | (237,953,350) | (401,541,566) | (401,611,014) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (3,262,175) | $(3,262,953) | (19,680,489) | $(19,679,381) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | — | $— |
Shares issued to shareholders in payment of distributions declared | — | — | 38 | 38 |
Shares redeemed | — | — | (4,498,390) | (4,500,567) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | — | $— | (4,498,352) | $(4,500,529) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 3,452,451,825 | $3,452,605,874 | (1,080,449,705) | $(1,081,782,389) |
2023 | 2022 | |
Ordinary income | $649,621,324 | $50,262,130 |
Distributions payable | $(15,864) |
Net unrealized depreciation | $(1,365,889) |
Capital loss carryforwards | $(1,385,458) |
TOTAL | $(2,767,211) |
Short-Term | Long-Term | Total |
$1,385,458 | $— | $1,385,458 |
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 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period | |
Actual | $1,000.00 | $1,024.60 | $0.90 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,023.90 | $0.90 |
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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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 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 | Select | TOLXX | Automated | TOAXX |
Institutional | TOIXX | Advisor | TOVXX | |
Service | TOSXX | Administrative | TODXX | |
Cash Management | TOMXX | Capital | TOCXX | |
Trust | TOTXX | Premier | TOPXX | |
Federated Hermes Treasury Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
Security Type | Percentage of Total Net Assets |
Repurchase Agreements | 86.1% |
U.S. Treasury Securities | 13.0% |
Other Assets and Liabilities—Net2 | 0.9% |
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 | 94.9% |
8-30 Days | 0.0% |
31-90 Days | 0.6% |
91-180 Days | 3.6% |
181 Days or more | 0.0% |
Other Assets and Liabilities—Net2 | 0.9% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
U.S. TREASURIES— 13.0% | |||
U.S. Treasury Bills—3.8% | |||
$ 606,000,000 | 1 | United States Treasury Bill, 5.215%, 12/28/2023 | $ 592,919,912 |
366,000,000 | 1 | United States Treasury Bill, 5.230%, 9/12/2023 | 363,766,789 |
185,000,000 | 1 | United States Treasury Bill, 5.250%, 1/18/2024 | 180,413,541 |
600,000,000 | 1 | United States Treasury Bill, 5.340%, 11/9/2023 | 591,100,000 |
508,000,000 | 1 | United States Treasury Bills, 5.220% - 5.230%, 10/31/2023 | 501,287,890 |
TOTAL | 2,229,488,132 | ||
U.S. Treasury Notes—9.2% | |||
250,000,000 | 2 | United States Treasury Floating Rate Notes, 5.266% (91-day T-Bill -0.075%), 8/1/2023 | 249,999,991 |
679,600,000 | 2 | United States Treasury Floating Rate Notes, 5.326% (91-day T-Bill -0.015%), 8/1/2023 | 679,723,392 |
1,323,000,000 | 2 | United States Treasury Floating Rate Notes, 5.378% (91-day T-Bill +0.037%), 8/1/2023 | 1,322,627,967 |
310,000,000 | 2 | United States Treasury Floating Rate Notes, 5.476% (91-day T-Bill +0.125%), 8/1/2023 | 310,000,000 |
685,000,000 | 2 | United States Treasury Floating Rate Notes, 5.481% (91-day T-Bill +0.140%), 8/1/2023 | 684,606,597 |
700,000,000 | 2 | United States Treasury Floating Rate Notes, 5.510% (91-day T-Bill +0.169%), 8/1/2023 | 700,146,325 |
1,202,000,000 | 2 | United States Treasury Floating Rate Notes, 5.541% (91-day T-Bill +0.200%), 8/1/2023 | 1,202,231,053 |
237,000,000 | United States Treasury Note, 0.375%, 10/31/2023 | 234,779,939 | |
TOTAL | 5,384,115,264 | ||
TOTAL U.S. TREASURIES | 7,613,603,396 | ||
REPURCHASE AGREEMENTS— 86.1% | |||
300,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Sumitomo Mitsui Banking Corp. will repurchase securities provided as collateral for $2,000,294,444 on 8/1/2023. 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 5/15/2049 and the market value of those underlying securities was $2,040,300,364. | 300,000,000 | |
350,000,000 | Repurchase agreement 5.27%, dated 7/31/2023 under which BNP Paribas S.A. will repurchase securities provided as collateral for $350,051,236 on 8/1/2023. 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 $357,052,280. | 350,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 100,000,000 | Repurchase agreement 5.27%, dated 7/31/2023 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $100,014,639 on 8/1/2023. 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 2/15/2049 and the market value of those underlying securities was $102,014,944. | $ 100,000,000 | |
1,400,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Barclays Bank PLC will repurchase securities provided as collateral for $1,400,206,111 on 8/1/2023. 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 2/28/2030 and the market value of those underlying securities was $1,428,210,239. | 1,400,000,000 | |
450,000,000 | Repurchase agreement 5.28%, dated 7/31/2023 under which Barclays Capital, Inc. will repurchase a security provided as collateral for $450,066,000 on 8/1/2023. The security provided as collateral at the end of the period held with BNY Mellon as tri-party agent, was a U.S. Treasury security maturing on 1/31/2030 and the market value of that underlying security was $459,067,343. | 450,000,000 | |
2,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $2,000,294,444 on 8/1/2023. 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 5/15/2032 and the market value of those underlying securities was $2,040,000,002. | 2,000,000,000 | |
1,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,000,147,222 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian were U.S. Government Agency securities with various maturities to 2/15/2041 and the market value of those underlying securities was $1,020,873,945. | 1,000,000,000 | |
500,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which National Australia Bank Ltd., Melbourne will repurchase securities provided as collateral for $500,073,611 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian were U.S. Government Agency securities with various maturities to 9/30/2029 and the market value of those underlying securities was $510,444,124. | 500,000,000 | |
319,957,500 | Repurchase agreement 5.31%, dated 7/31/2023 under which Prudential Insurance Co. of America will repurchase securities provided as collateral for $320,004,694 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian were U.S. Government Agency securities with various maturities to 8/15/2045 and the market value of those underlying securities was $326,406,929. | 319,957,500 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 114,218,750 | Repurchase agreement 5.31%, dated 7/31/2023 under which Prudential Legacy Insurance Co. of NJ will repurchase securities provided as collateral for $114,235,597 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian were U.S. Government Agency securities with various maturities to 8/15/2045 and the market value of those underlying securities was $116,549,885. | $ 114,218,750 | |
250,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Citibank, N.A. will repurchase securities provided as collateral for $250,036,806 on 8/1/2023. 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 2/15/2052 and the market value of those underlying securities was $255,037,573. | 250,000,000 | |
710,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Credit Agricole Corporate and Investment Bank will repurchase securities provided as collateral for $710,104,528 on 8/1/2023. 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 8/15/2030 and the market value of those underlying securities was $724,306,694. | 710,000,000 | |
56,608,000 | Repurchase agreement 5.23%, dated 7/31/2023 under which Bofa Securities, Inc. will repurchase a security provided as collateral for $56,616,224 on 8/1/2023. The security provided as collateral at the end of the period held with BNY Mellon as tri-party agent, was a U.S. Treasury security maturing on 12/31/2028 and the market value of that underlying security was $57,748,623. | 56,608,000 | |
1,400,000,000 | Repurchase agreement 5.28%, dated 7/31/2023 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $1,400,205,333 on 8/1/2023. 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 11/15/2051 and the market value of those underlying securities was $1,428,209,462. | 1,400,000,000 | |
2,075,000,000 | Interest in $3,236,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $3,236,476,411 on 8/1/2023. 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 5/15/2053 and the market value of those underlying securities was $3,301,206,008. | 2,075,000,000 | |
300,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.31%, dated 7/26/2023 under which CIBC World Markets Corp. will repurchase securities provided as collateral for $1,008,260,000 on 9/21/2023. 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 2/15/2053 and the market value of those underlying securities was $1,028,425,203. | 300,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 395,000,000 | Repurchase agreement 5.28%, dated 7/31/2023 under which Natwest Markets Securities, Inc. will repurchase securities provided as collateral for $395,057,933 on 8/1/2023. 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 2/15/2032 and the market value of those underlying securities was $402,900,010. | $ 395,000,000 | |
250,000,000 | Repurchase agreement 5.28%, dated 7/31/2023 under which TD Securities (USA), LLC will repurchase securities provided as collateral for $250,036,667 on 8/1/2023. 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 5/15/2032 and the market value of those underlying securities was $255,037,450. | 250,000,000 | |
1,300,000,000 | Interest in $1,500,000,000 joint repurchase agreement 5.31%, dated 7/26/2023 under which Credit Agricole Corporate and Investment Bank will repurchase securities provided as collateral for $1,512,390,000 on 9/21/2023. 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 2/15/2053 and the market value of those underlying securities was $1,531,128,432. | 1,300,000,000 | |
950,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.35%, dated 5/2/2023 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,013,672,222 on 8/2/2023. 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 8/31/2027 and the market value of those underlying securities was $1,024,218,267. | 950,000,000 | |
16,500,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $16,502,429,167 on 8/1/2023. 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 2/15/2029 and the market value of those underlying securities was $16,502,429,203. | 16,500,000,000 | |
4,000,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $4,000,590,000 on 8/1/2023. 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 7/31/2026 and the market value of those underlying securities was $4,080,000,061. | 4,000,000,000 | |
1,375,000,000 | Interest in $2,750,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Standard Chartered Bank will repurchase securities provided as collateral for $2,750,404,861 on 8/1/2023. 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 5/15/2053 and the market value of those underlying securities was $2,805,413,046. | 1,375,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 5,000,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $5,000,737,500 on 8/1/2023. 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 11/15/2052 and the market value of those underlying securities was $5,100,000,008. | $ 5,000,000,000 | |
500,000,000 | Repurchase agreement 5.31%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $500,073,750 on 8/1/2023. 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 5/15/2052 and the market value of those underlying securities was $510,075,296. | 500,000,000 | |
1,800,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.31%, dated 7/26/2023 under which Societe Generale, New York will repurchase securities provided as collateral for $2,002,065,000 on 8/2/2023. 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 11/15/2052 and the market value of those underlying securities was $2,041,805,434. | 1,800,000,000 | |
1,500,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,500,220,833 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian were U.S. Government Agency securities with various maturities to 1/15/2033 and the market value of those underlying securities was $1,534,724,124. | 1,500,000,000 | |
5,000,000,000 | Repurchase agreement 5.30%, dated 7/31/2023 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $5,000,736,111 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian were U.S. Government Agency securities with various maturities to 7/15/2033 and the market value of those underlying securities was $5,101,041,201. | 5,000,000,000 | |
450,002,500 | Repurchase agreement 5.30%, dated 7/31/2023 under which Metropolitan Life Insurance Co. will repurchase securities provided as collateral for $450,068,750 on 8/1/2023. The securities provided as collateral at the end of the period held with State Street Bank & Trust Co. as custodian were U.S. Government Agency securities with various maturities to 8/31/2026 and the market value of those underlying securities was $459,401,438. | 450,002,500 | |
TOTAL REPURCHASE AGREEMENTS | 50,345,786,750 | ||
TOTAL INVESTMENT IN SECURITIES—99.1% (AT AMORTIZED COST)3 | 57,959,390,146 | ||
OTHER ASSETS AND LIABILITIES - NET—0.9%4 | 520,674,351 | ||
TOTAL NET ASSETS—100% | $58,480,064,497 |
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. |
Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 |
Income From Investment Operations: | |
Net investment income (loss) | 0.004 |
Net realized gain (loss) | 0.0002 |
Total From Investment Operations | 0.004 |
Less Distributions: | |
Distributions from net investment income | (0.004) |
Net Asset Value, End of Period | $1.00 |
Total Return3 | 0.40% |
Ratios to Average Net Assets: | |
Net expenses4 | 0.17%5 |
Net investment income | 5.39%5 |
Expense waiver/reimbursement6 | 0.14%5 |
Supplemental Data: | |
Net assets, end of period (000 omitted) | $50 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.036 | 0.002 | 0.0001 | 0.008 | 0.019 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | 0.0001 | 0.0001 |
Total From Investment Operations | 0.036 | 0.002 | 0.0001 | 0.008 | 0.019 |
Less Distributions: | |||||
Distributions from net investment income | (0.036) | (0.002) | (0.000)1 | (0.008) | (0.019) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.036) | (0.002) | (0.000)1 | (0.008) | (0.019) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.67% | 0.18% | 0.01% | 0.84% | 1.88% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.54% | 0.21% | 0.11% | 0.43% | 0.48% |
Net investment income | 3.52% | 0.13% | 0.01% | 0.82% | 1.87% |
Expense waiver/reimbursement4 | 0.08% | 0.42% | 0.52% | 0.18% | 0.11% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,116,884 | $1,615,683 | $2,390,301 | $2,076,883 | $2,138,942 |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.040 | 0.003 | 0.0001 | 0.011 | 0.022 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.040 | 0.003 | 0.0001 | 0.011 | 0.022 |
Less Distributions: | |||||
Distributions from net investment income | (0.040) | (0.003) | (0.000)1 | (0.011) | (0.022) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.040) | (0.003) | (0.000)1 | (0.011) | (0.022) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 4.02% | 0.29% | 0.01% | 1.09% | 2.18% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.20% | 0.12% | 0.11% | 0.19% | 0.18% |
Net investment income | 4.02% | 0.29% | 0.01% | 0.99% | 2.17% |
Expense waiver/reimbursement4 | 0.08% | 0.16% | 0.17% | 0.10% | 0.11% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $44,853,097 | $40,500,072 | $40,668,867 | $49,615,082 | $33,350,766 |
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. |
Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 |
Income From Investment Operations: | |
Net investment income (loss) | 0.004 |
Net realized gain (loss) | 0.0002 |
Total From Investment Operations | 0.004 |
Less Distributions: | |
Distributions from net investment income | (0.004) |
Net Asset Value, End of Period | $1.00 |
Total Return3 | 0.40% |
Ratios to Average Net Assets: | |
Net expenses4 | 0.15%5 |
Net investment income | 5.41%5 |
Expense waiver/reimbursement6 | 0.14%5 |
Supplemental Data: | |
Net assets, end of period (000 omitted) | $50 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.037 | 0.002 | 0.0001 | 0.009 | 0.019 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.037 | 0.002 | 0.0001 | 0.009 | 0.019 |
Less Distributions: | |||||
Distributions from net investment income | (0.037) | (0.002) | (0.000)1 | (0.009) | (0.019) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.037) | (0.002) | (0.000)1 | (0.009) | (0.019) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.77% | 0.20% | 0.01% | 0.88% | 1.93% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.45% | 0.20% | 0.12% | 0.39% | 0.43% |
Net investment income | 3.82% | 0.19% | 0.01% | 0.84% | 1.92% |
Expense waiver/reimbursement4 | 0.08% | 0.33% | 0.41% | 0.15% | 0.11% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $6,216,332 | $4,833,929 | $5,363,707 | $5,512,396 | $4,672,058 |
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. |
Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 |
Income From Investment Operations: | |
Net investment income (loss) | 0.004 |
Net realized gain (loss) | 0.0002 |
Total From Investment Operations | 0.004 |
Less Distributions: | |
Distributions from net investment income | (0.004) |
Net Asset Value, End of Period | $1.00 |
Total Return3 | 0.38% |
Ratios to Average Net Assets: | |
Net expenses4 | 0.45%5 |
Net investment income | 5.11%5 |
Expense waiver/reimbursement6 | 0.14%5 |
Supplemental Data: | |
Net assets, end of period (000 omitted) | $50 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
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. |
Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 |
Income From Investment Operations: | |
Net investment income (loss) | 0.004 |
Net realized gain (loss) | 0.0002 |
Total From Investment Operations | 0.004 |
Less Distributions: | |
Distributions from net investment income | (0.004) |
Net Asset Value, End of Period | $1.00 |
Total Return3 | 0.36% |
Ratios to Average Net Assets: | |
Net expenses4 | 0.70%5 |
Net investment income | 4.88%5 |
Expense waiver/reimbursement6 | 0.14%5 |
Supplemental Data: | |
Net assets, end of period (000 omitted) | $50 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.039 | 0.002 | 0.0001 | 0.010 | 0.021 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.039 | 0.002 | 0.0001 | 0.010 | 0.021 |
Less Distributions: | |||||
Distributions from net investment income | (0.039) | (0.002) | (0.000)1 | (0.010) | (0.021) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.039) | (0.002) | (0.000)1 | (0.010) | (0.021) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.92% | 0.25% | 0.01% | 0.99% | 2.08% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.30% | 0.16% | 0.11% | 0.28% | 0.28% |
Net investment income | 4.08% | 0.25% | 0.01% | 0.90% | 2.07% |
Expense waiver/reimbursement4 | 0.09% | 0.22% | 0.27% | 0.11% | 0.11% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $4,829,109 | $2,100,176 | $1,859,069 | $2,119,651 | $1,250,599 |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income (loss) | 0.035 | 0.001 | 0.0001 | 0.007 | 0.017 |
Net realized gain (loss) | 0.0001 | (0.000)1 | 0.0001 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.035 | 0.001 | 0.0001 | 0.007 | 0.017 |
Less Distributions: | |||||
Distributions from net investment income | (0.035) | (0.001) | (0.000)1 | (0.007) | (0.017) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.035) | (0.001) | (0.000)1 | (0.007) | (0.017) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.51% | 0.14% | 0.01% | 0.72% | 1.67% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.70% | 0.27% | 0.13% | 0.54% | 0.68% |
Net investment income | 3.45% | 0.14% | 0.01% | 0.66% | 1.67% |
Expense waiver/reimbursement4 | 0.08% | 0.51% | 0.65% | 0.25% | 0.11% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $655,941 | $796,860 | $754,675 | $1,379,716 | $860,830 |
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. |
Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 |
Income From Investment Operations: | |
Net investment income (loss) | 0.004 |
Net realized gain (loss) | 0.0002 |
Total From Investment Operations | 0.004 |
Less Distributions: | |
Distributions from net investment income | (0.004) |
Net Asset Value, End of Period | $1.00 |
Total Return3 | 0.40% |
Ratios to Average Net Assets: | |
Net expenses4 | 0.15%5 |
Net investment income | 5.09%5 |
Expense waiver/reimbursement6 | 0.13%5 |
Supplemental Data: | |
Net assets, end of period (000 omitted) | $808,502 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
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, 2023
Assets: | |
Investment in repurchase agreements | $50,345,786,750 |
Investment in securities | 7,613,603,396 |
Investment in securities, at amortized cost and fair value | 57,959,390,146 |
Cash | 647,266,912 |
Income receivable | 14,484,250 |
Receivable for shares sold | 83,545,177 |
Total Assets | 58,704,686,485 |
Liabilities: | |
Payable for shares redeemed | 81,073,563 |
Income distribution payable | 137,808,014 |
Payable for investment adviser fee (Note 5) | 110,812 |
Payable for administrative fee (Note 5) | 124,574 |
Payable for Directors’/Trustees’ fees (Note 5) | 6,717 |
Payable for distribution services fee (Note 5) | 136,586 |
Payable for other service fees (Notes 2 and 5) | 3,993,143 |
Accrued expenses (Note 5) | 1,368,579 |
Total Liabilities | 224,621,988 |
Net assets for 58,500,674,144 shares outstanding | $58,480,064,497 |
Net Assets Consist of: | |
Paid-in capital | $58,500,867,147 |
Total distributable earnings (loss) | (20,802,650) |
Total Net Assets | $58,480,064,497 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Select Shares: | |
$49,982 ÷ 50,000 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Automated Shares: | |
$1,116,883,958 ÷ 1,117,276,829 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Institutional Shares: | |
$44,853,096,749 ÷ 44,868,900,559 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$49,982 ÷ 50,000 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$6,216,331,567 ÷ 6,218,524,122 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Administrative Shares: | |
$49,982 ÷ 50,000 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Management Shares: | |
$49,982 ÷ 50,000 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$4,829,109,371 ÷ 4,830,813,498 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$655,940,858 ÷ 656,171,930 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Premier Shares: | |
$808,502,066 ÷ 808,787,206 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2023
Investment Income: | |
Interest | $2,400,474,816 |
Expenses: | |
Investment adviser fee (Note 5) | 113,298,532 |
Administrative fee (Note 5) | 44,260,612 |
Custodian fees | 1,580,830 |
Transfer agent fees (Note 2) | 1,542,730 |
Directors’/Trustees’ fees (Note 5) | 300,759 |
Auditing fees | 31,290 |
Legal fees | 13,417 |
Portfolio accounting fees | 216,967 |
Distribution services fee (Note 5) | 1,923,573 |
Other service fees (Notes 2 and 5) | 24,799,169 |
Share registration costs | 882,980 |
Printing and postage | 184,476 |
Miscellaneous (Note 5) | 259,269 |
TOTAL EXPENSES | 189,294,604 |
Waiver of investment adviser fee (Note 5) | (47,757,079) |
Net expenses | 141,537,525 |
Net investment income | 2,258,937,291 |
Net realized gain on investments | 2,240,523 |
Change in net assets resulting from operations | $2,261,177,814 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $2,258,937,291 | $131,731,993 |
Net realized gain (loss) | 2,240,523 | (23,055,939) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 2,261,177,814 | 108,676,054 |
Distributions to Shareholders: | ||
Select Shares1 | (214) | — |
Automated Shares | (46,031,281) | (3,178,441) |
Institutional Shares | (1,826,931,196) | (112,874,570) |
Advisor Shares1 | (214) | — |
Service Shares | (215,217,062) | (9,732,842) |
Administrative Shares1 | (203) | — |
Cash Management Shares1 | (193) | — |
Capital Shares | (142,593,323) | (4,902,590) |
Trust Shares | (26,579,749) | (1,158,642) |
Premier Shares1 | (1,556,761) | — |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (2,258,910,196) | (131,847,085) |
Share Transactions: | ||
Proceeds from sale of shares | 316,262,136,779 | 262,727,989,725 |
Net asset value of shares issued to shareholders in payment of distributions declared | 905,152,706 | 43,327,917 |
Cost of shares redeemed | (308,536,213,215) | (263,938,044,594) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 8,631,076,270 | (1,166,726,952) |
Change in net assets | 8,633,343,888 | (1,189,897,983) |
Net Assets: | ||
Beginning of period | 49,846,720,609 | 51,036,618,592 |
End of period | $58,480,064,497 | $49,846,720,609 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
Transfer Agent Fees Incurred | |
Select Shares | $— |
Automated Shares | 1,215,310 |
Institutional Shares | 230,656 |
Advisor Shares | — |
Service Shares | 70,245 |
Administrative Shares | — |
Cash Management Shares | — |
Capital Shares | 17,971 |
Trust Shares | 8,358 |
Premier Shares | 190 |
TOTAL | $1,542,730 |
Other Service Fees Incurred | |
Select Shares | $1 |
Automated Shares | 3,276,181 |
Institutional Shares | 1,858,186 |
Service Shares | 14,088,802 |
Administrative Shares | 10 |
Cash Management Shares | 10 |
Capital Shares | 3,652,420 |
Trust Shares | 1,923,559 |
TOTAL | $24,799,169 |
Period Ended 7/31/20231 | Year Ended 7/31/2022 | |||
Select Shares: | Shares | Amount | Shares | Amount |
Shares sold | 50,000 | $50,000 | — | $— |
Shares issued to shareholders in payment of distributions declared | — | — | — | — |
Shares redeemed | — | — | — | — |
NET CHANGE RESULTING FROM SELECT SHARE TRANSACTIONS | 50,000 | $50,000 | — | $— |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,524,418,947 | $1,524,418,947 | 2,894,701,881 | $2,894,701,881 |
Shares issued to shareholders in payment of distributions declared | 43,797,772 | 43,797,772 | 3,061,270 | 3,061,270 |
Shares redeemed | (2,067,363,933) | (2,067,363,933) | (3,671,626,586) | (3,671,626,586) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | (499,147,214) | $(499,147,214) | (773,863,435) | $(773,863,435) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 280,616,560,953 | $280,616,560,953 | 234,597,319,011 | $234,597,319,011 |
Shares issued to shareholders in payment of distributions declared | 684,325,622 | 684,325,622 | 34,235,903 | 34,235,903 |
Shares redeemed | (276,950,636,724) | (276,950,636,724) | (234,781,536,709) | (234,781,536,709) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 4,350,249,851 | $4,350,249,851 | (149,981,795) | $(149,981,795) |
Period Ended 7/31/20231 | Year Ended 7/31/2022 | |||
Advisor Shares: | Shares | Amount | Shares | Amount |
Shares sold | 50,000 | $50,000 | — | $— |
Shares issued to shareholders in payment of distributions declared | — | — | — | — |
Shares redeemed | — | — | — | — |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | 50,000 | $50,000 | — | $— |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 21,454,309,586 | $21,454,309,586 | 19,049,431,252 | $19,049,431,252 |
Shares issued to shareholders in payment of distributions declared | 53,925,418 | 53,925,418 | 2,979,735 | 2,979,735 |
Shares redeemed | (20,125,859,175) | (20,125,859,175) | (19,579,938,742) | (19,579,938,742) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 1,382,375,829 | $1,382,375,829 | (527,527,755) | $(527,527,755) |
Period Ended 7/31/20231 | Year Ended 7/31/2022 | |||
Administrative Shares: | Shares | Amount | Shares | Amount |
Shares sold | 50,000 | $50,000 | — | $— |
Shares issued to shareholders in payment of distributions declared | — | — | — | — |
Shares redeemed | — | — | — | — |
NET CHANGE RESULTING FROM ADMINISTRATIVE SHARE TRANSACTIONS | 50,000 | $50,000 | — | $— |
Period Ended 7/31/20231 | Year Ended 7/31/2022 | |||
Cash Management Shares: | Shares | Amount | Shares | Amount |
Shares sold | 50,000 | $50,000 | — | $— |
Shares issued to shareholders in payment of distributions declared | — | — | — | — |
Shares redeemed | — | — | — | — |
NET CHANGE RESULTING FROM CASH MANAGEMENT SHARE TRANSACTIONS | 50,000 | $50,000 | — | $— |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 9,984,241,458 | $9,984,241,458 | 4,606,290,921 | $4,606,290,921 |
Shares issued to shareholders in payment of distributions declared | 114,425,707 | 114,425,707 | 2,883,959 | 2,883,959 |
Shares redeemed | (7,369,002,375) | (7,369,002,375) | (4,367,084,030) | (4,367,084,030) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 2,729,664,790 | $2,729,664,790 | 242,090,850 | $242,090,850 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,824,661,972 | $1,824,661,972 | 1,580,246,660 | $1,580,246,660 |
Shares issued to shareholders in payment of distributions declared | 7,727,601 | 7,727,601 | 167,050 | 167,050 |
Shares redeemed | (1,973,443,765) | (1,973,443,765) | (1,537,858,527) | (1,537,858,527) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | (141,054,192) | $(141,054,192) | 42,555,183 | $42,555,183 |
Period Ended 7/31/20231 | Year Ended 7/31/2022 | |||
Premier Shares: | Shares | Amount | Shares | Amount |
Shares sold | 857,743,863 | $857,743,863 | — | $— |
Shares issued to shareholders in payment of distributions declared | 950,586 | 950,586 | — | — |
Shares redeemed | (49,907,243) | (49,907,243) | — | — |
NET CHANGE RESULTING FROM PREMIER SHARE TRANSACTIONS | 808,787,206 | $808,787,206 | — | $— |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 8,631,076,270 | $8,631,076,270 | (1,166,726,952) | $(1,166,726,952) |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
2023 | 2022 | |
Ordinary income1 | $2,258,910,196 | $131,836,915 |
Long-term capital gains | $— | $10,170 |
1 | For tax purposes, short-term capital gains distributions are considered ordinary income distributions. |
Undistributed ordinary income | $12,766 |
Capital loss carryforwards | $(20,815,416) |
TOTAL | $(20,802,650) |
Short-Term | Long-Term | Total |
$20,815,416 | $— | $20,815,416 |
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 | 0.10% |
Cash Management Shares | 0.30% |
Trust Shares | 0.25% |
Distribution Services Fees Incurred | |
Administrative Shares | $2 |
Cash Management Shares | 12 |
Trust Shares | 1,923,559 |
TOTAL | $1,923,573 |
September 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual: | |||
Select Shares | $1,000 | $1,004.00 | $0.142 |
Automated Shares | $1,000 | $1,022.10 | $2.71 |
Institutional Shares | $1,000 | $1,023.80 | $1.00 |
Advisor Shares | $1,000 | $1,004.00 | $0.123 |
Service Shares | $1,000 | $1,022.50 | $2.26 |
Administrative Shares | $1,000 | $1,003.80 | $0.364 |
Cash Management Shares | $1,000 | $1,003.60 | $0.565 |
Capital Shares | $1,000 | $1,023.20 | $1.50 |
Trust Shares | $1,000 | $1,021.30 | $3.51 |
Premier Shares | $1,000 | $1,004.00 | $0.126 |
Hypothetical (assuming a 5% return before expenses): | |||
Select Shares | $1,000 | $1,023.95 | $0.852 |
Automated Shares | $1,000 | $1,022.12 | $2.71 |
Institutional Shares | $1,000 | $1,023.80 | $1.00 |
Advisor Shares | $1,000 | $1,024.05 | $0.753 |
Service Shares | $1,000 | $1,022.56 | $2.26 |
Administrative Shares | $1,000 | $1,022.56 | $2.264 |
Cash Management Shares | $1,000 | $1,021.32 | $3.515 |
Capital Shares | $1,000 | $1,023.31 | $1.51 |
Trust Shares | $1,000 | $1,021.32 | $3.51 |
Premier Shares | $1,000 | $1,024.05 | $0.756 |
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 | 0.17% |
Automated Shares | 0.54% |
Institutional Shares | 0.20% |
Advisor Shares | 0.15% |
Service Shares | 0.45% |
Administrative Shares | 0.45% |
Cash Management Shares | 0.70% |
Capital Shares | 0.30% |
Trust Shares | 0.70% |
Premier Shares | 0.15% |
2 | “Actual” expense information for the Fund’s Select Shares is for the period from July 3, 2023 (commencement of operations) to July 31, 2023. Actual expenses are equal to the Fund’s annualized net expense ratio of 0.17%, multiplied by 29/365 (to reflect the period from the commencement of operations to July 31, 2023). “Hypothetical” expense information for Select Shares is presented on the basis of the full one-half year period to enable comparison to other funds. It is based on assuming the same net expense ratio and average account value over the period, but it is multiplied by 181/365 (to reflect the half year period) |
3 | “Actual” expense information for the Fund’s Advisor Shares is for the period from July 3, 2023 (commencement of operations) to July 31, 2023. Actual expenses are equal to the Fund’s annualized net expense ratio of 0.15%, multiplied by 29/365 (to reflect the period from the commencement of operations to July 31, 2023). “Hypothetical” expense information for Advisor Shares is presented on the basis of the full one-half year period to enable comparison to other funds. It is based on assuming the same net expense ratio and average account value over the period, but it is multiplied by 181/365 (to reflect the half year period). |
4 | “Actual” expense information for the Fund’s Administrative Shares is for the period from July 3, 2023 (commencement of operations) to July 31, 2023. Actual expenses are equal to the Fund’s annualized net expense ratio of 0.45%, multiplied by 29/365 (to reflect the period from the commencement of operations to July 31, 2023). “Hypothetical” expense information for Administrative Shares is presented on the basis of the full one-half year period to enable comparison to other funds. It is based on assuming the same net expense ratio and average account value over the period, but it is multiplied by 181/365 (to reflect the half year period). |
5 | “Actual” expense information for the Fund’s Cash Management Shares is for the period from July 3, 2023 (commencement of operations) to July 31, 2023. Actual expenses are equal to the Fund’s annualized net expense ratio of 0.70%, multiplied by 29/365 (to reflect the period from the commencement of operations to July 31, 2023). “Hypothetical” expense information for Cash Management Shares is presented on the basis of the full one-half year period to enable comparison to other funds. It is based on assuming the same net expense ratio and average account value over the period, but it is multiplied by 181/365 (to reflect the half year period). |
6 | “Actual” expense information for the Fund’s Premier Shares is for the period from July 3, 2023 (commencement of operations) to July 31, 2023. Actual expenses are equal to the Fund’s annualized net expense ratio of 0.15%, multiplied by 29/365 (to reflect the period from the commencement of operations to July 31, 2023). “Hypothetical” expense information for Premier Shares is presented on the basis of the full one-half year period to enable comparison to other funds. It is based on assuming the same net expense ratio and average account value over the period, but it is multiplied by 181/365 (to reflect the 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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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 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 608919726
CUSIP 60934N500
CUSIP 31423R203
CUSIP 60934N872
CUSIP 31423R302
CUSIP 31423R401
CUSIP 60934N823
CUSIP 60934N120
CUSIP 31423R500
Share Class | Ticker | Institutional | TTOXX | Service | TTQXX | 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 | 9.5% |
Repurchase Agreements | 90.3% |
Other Assets and Liabilities—Net2 | 0.2% |
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 | 95.7% |
8-30 Days | 0.0% |
31-90 Days | 0.6% |
91-180 Days | 3.5% |
181 Days or more | 0.0% |
Other Assets and Liabilities—Net2 | 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 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
U.S. TREASURIES— 9.5% | |||
$ 72,000,000 | 1 | United States Treasury Bills, 5.215%, 12/28/2023 | $ 70,445,930 |
57,000,000 | 1 | United States Treasury Bills, 5.220% - 5.230%, 10/31/2023 | 56,246,823 |
44,000,000 | 1 | United States Treasury Bills, 5.230%, 9/12/2023 | 43,731,527 |
50,000,000 | 1 | United States Treasury Bills, 5.250%, 1/18/2024 | 48,760,416 |
70,000,000 | 1 | United States Treasury Bills, 5.340%, 11/9/2023 | 68,961,667 |
30,180,000 | 2 | United States Treasury Floating Rate Notes, 5.266% (91-day T-Bill -0.075%), 8/1/2023 | 30,170,615 |
37,500,000 | 2 | United States Treasury Floating Rate Notes, 5.326% (91-day T-Bill -0.015%), 8/1/2023 | 37,506,559 |
55,250,000 | 2 | United States Treasury Floating Rate Notes, 5.378% (91-day T-Bill +0.037%), 8/1/2023 | 55,236,889 |
38,000,000 | 2 | United States Treasury Floating Rate Notes, 5.476% (91-day T-Bill +0.125%), 8/1/2023 | 38,000,000 |
39,000,000 | 2 | United States Treasury Floating Rate Notes, 5.481% (91-day T-Bill +0.140%), 8/1/2023 | 38,976,396 |
79,000,000 | 2 | United States Treasury Floating Rate Notes, 5.510% (91-day T-Bill +0.169%), 8/1/2023 | 79,017,059 |
117,000,000 | 2 | United States Treasury Floating Rate Notes, 5.541% (91-day T-Bill +0.200%), 8/1/2023 | 117,022,791 |
13,000,000 | United States Treasury Note, 0.375%, 10/31/2023 | 12,878,224 | |
TOTAL | 696,954,896 | ||
REPURCHASE AGREEMENTS— 90.3% | |||
50,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.35%, dated 5/2/2023 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,013,672,222 on 8/2/2023. 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 8/31/2027 and the market value of those underlying securities was $1,024,218,267. | 50,000,000 | |
200,000,000 | Interest in $1,500,000,000 joint repurchase agreement 5.31%, dated 7/26/2023 under which Credit Agricole Corporate and Investment Bank will repurchase securities provided as collateral for $1,512,390,000 on 9/21/2023. 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 2/15/2053 and the market value of those underlying securities was $1,531,128,432. | 200,000,000 | |
5,500,000,000 | Interest in $5,500,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $5,500,809,722 on 8/1/2023. 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 8/15/2027 and the market value of those underlying securities was $5,500,809,795. | 5,500,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 200,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.31%, dated 7/26/2023 under which Societe Generale, New York will repurchase securities provided as collateral for $2,002,065,000 on 8/2/2023. 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 11/15/2052 and the market value of those underlying securities was $2,041,805,434. | $ 200,000,000 | |
715,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.30%, dated 7/31/2023 under which Sumitomo Mitsui Banking Corp. will repurchase securities provided as collateral for $2,000,294,444 on 8/1/2023. 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 5/15/2049 and the market value of those underlying securities was $2,040,300,364. | 715,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 6,665,000,000 | ||
TOTAL INVESTMENT IN SECURITIES—99.8% (AT AMORTIZED COST)3 | 7,361,954,896 | ||
OTHER ASSETS AND LIABILITIES - NET—0.2%4 | 15,565,218 | ||
TOTAL NET ASSETS—100% | $7,377,520,114 |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.044 | 0.003 | 0.0001 | 0.011 | 0.021 |
Net realized gain (loss) | (0.005) | (0.000)1 | 0.0001 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.039 | 0.003 | 0.0001 | 0.011 | 0.021 |
Less Distributions: | |||||
Distributions from net investment income | (0.039) | (0.003) | (0.000)1 | (0.011) | (0.021) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.039) | (0.003) | (0.000)1 | (0.011) | (0.021) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.98% | 0.26% | 0.01% | 1.07% | 2.16% |
Ratios to Average Net Assets: | |||||
Net expenses3 | 0.20% | 0.12% | 0.13% | 0.20% | 0.20% |
Net investment income | 4.36% | 0.22% | 0.01% | 0.94% | 2.18% |
Expense waiver/reimbursement4 | 0.10% | 0.18% | 0.17% | 0.11% | 0.11% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $5,050,177 | $1,134,075 | $1,464,865 | $2,334,139 | $1,344,393 |
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. |
Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 |
Income From Investment Operations: | |
Net investment income | 0.004 |
Net realized gain (loss) | 0.0002 |
Total From Investment Operations | 0.004 |
Distributions from net investment income | (0.004) |
Total Distributions | (0.004) |
Net Asset Value, End of Period | $1.00 |
Total Return3 | 0.38% |
Ratios to Average Net Assets: | |
Net expenses4 | 0.45%5 |
Net investment income | 5.03%5 |
Expense waiver/reimbursement6 | 0.10%5 |
Supplemental Data: | |
Net assets, end of period (000 omitted) | $50 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.035 | 0.001 | 0.0001 | 0.006 | 0.014 |
Net realized gain (loss) | (0.003) | (0.000)1 | 0.0001 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.032 | 0.001 | 0.0001 | 0.006 | 0.014 |
Less Distributions: | |||||
Distributions from net investment income | (0.032) | (0.001) | (0.000)1 | (0.006) | (0.014) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.032) | (0.001) | (0.000)1 | (0.006) | (0.014) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.27% | 0.08% | 0.00%3 | 0.58% | 1.45% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 0.89% | 0.30% | 0.13% | 0.67% | 0.90% |
Net investment income | 3.50% | 0.08% | 0.00%3 | 0.53% | 1.44% |
Expense waiver/reimbursement5 | 0.11% | 0.70% | 0.87% | 0.34% | 0.11% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,246,548 | $691,193 | $735,469 | $750,118 | $591,844 |
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, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||||
Net investment income | 0.032 | 0.001 | 0.0001 | 0.005 | 0.013 |
Net realized gain (loss) | (0.001) | (0.000)1 | 0.0001 | (0.000)1 | 0.0001 |
Total From Investment Operations | 0.031 | 0.001 | 0.0001 | 0.005 | 0.013 |
Less Distributions: | |||||
Distributions from net investment income | (0.031) | (0.001) | (0.000)1 | (0.005) | (0.013) |
Distributions from net realized gain | — | (0.000)1 | (0.000)1 | (0.000)1 | (0.000)1 |
Total Distributions | (0.031) | (0.001) | (0.000)1 | (0.005) | (0.013) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return2 | 3.11% | 0.06% | 0.00%3 | 0.50% | 1.31% |
Ratios to Average Net Assets: | |||||
Net expenses4 | 1.04% | 0.33% | 0.13% | 0.76% | 1.04% |
Net investment income | 3.17% | 0.06% | 0.00%3 | 0.47% | 1.32% |
Expense waiver/reimbursement5 | 0.20% | 0.92% | 1.10% | 0.48% | 0.21% |
Supplemental Data: | |||||
Net assets, end of period (000 omitted) | $1,080,745 | $719,191 | $767,050 | $653,747 | $496,252 |
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, 2023
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $6,665,000,000 |
Investment in securities | 696,954,896 |
Investment in securities, at amortized cost and fair value | 7,361,954,896 |
Cash | 436,624 |
Income receivable | 1,519,012 |
Receivable for shares sold | 29,433,878 |
Total Assets | 7,393,344,410 |
Liabilities: | |
Payable for shares redeemed | 11,502,570 |
Income distribution payable | 2,388,754 |
Payable for investment adviser fee (Note 5) | 18,420 |
Payable for administrative fee (Note 5) | 15,650 |
Payable for distribution services fee (Note 5) | 851,039 |
Payable for other service fees (Notes 2 and 5) | 498,263 |
Accrued expenses (Note 5) | 549,600 |
Total Liabilities | 15,824,296 |
Net assets for 7,377,565,925 shares outstanding | $7,377,520,114 |
Net Assets Consist of: | |
Paid-in capital | $7,377,565,955 |
Total distributable earnings (loss) | (45,841) |
Total Net Assets | $7,377,520,114 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$5,050,176,765 ÷ 5,050,208,089 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$50,000 ÷ 50,000 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$1,246,548,321 ÷ 1,246,556,079 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$1,080,745,028 ÷ 1,080,751,757 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Year Ended July 31, 2023
Investment Income: | |
Interest | $218,158,038 |
Expenses: | |
Investment adviser fee (Note 5) | 9,796,335 |
Administrative fee (Note 5) | 3,825,115 |
Custodian fees | 137,517 |
Transfer agent fees (Note 2) | 2,150,470 |
Directors’/Trustees’ fees (Note 5) | 19,766 |
Auditing fees | 20,301 |
Legal fees | 12,217 |
Portfolio accounting fees | 200,446 |
Distribution services fee (Note 5) | 9,964,846 |
Other service fees (Notes 2 and 5) | 5,421,552 |
Share registration costs | 741,846 |
Printing and postage | 102,651 |
Miscellaneous (Note 5) | 83,707 |
TOTAL EXPENSES | 32,476,769 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (4,934,749) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (1,136,990) |
TOTAL WAIVERS AND REIMBURSEMENTS | (6,071,739) |
Net expenses | 26,405,030 |
Net investment income | 191,753,008 |
Net realized loss on investments | (25,648) |
Change in net assets resulting from operations | $191,727,360 |
Year Ended July 31 | 2023 | 2022 |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $191,753,008 | $3,701,109 |
Net realized gain (loss) | (25,648) | (41,775) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 191,727,360 | 3,659,334 |
Distributions to Shareholders: | ||
Institutional Shares | (118,625,099) | (2,692,020) |
Service Shares1 | (202) | — |
Cash II Shares | (43,303,704) | (549,322) |
Cash Series Shares | (29,802,757) | (463,531) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (191,731,762) | (3,704,873) |
Share Transactions: | ||
Proceeds from sale of shares | 13,637,878,946 | 4,421,748,130 |
Net asset value of shares issued to shareholders in payment of distributions declared | 169,735,007 | 2,286,934 |
Cost of shares redeemed | (8,974,548,492) | (4,846,914,198) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 4,833,065,461 | (422,879,134) |
Change in net assets | 4,833,061,059 | (422,924,673) |
Net Assets: | ||
Beginning of period | 2,544,459,055 | 2,967,383,728 |
End of period | $7,377,520,114 | $2,544,459,055 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Institutional Shares | $17,536 | $(118) |
Service Shares | — | — |
Cash II Shares | 1,270,726 | (180,489) |
Cash Series Shares | 862,208 | (16,502) |
TOTAL | $2,150,470 | $(197,109) |
Other Service Fees Incurred | |
Service Shares | $10 |
Cash II Shares | 3,071,839 |
Cash Series Shares | 2,349,703 |
TOTAL | $5,421,552 |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 7,687,386,035 | $7,687,386,035 | 2,009,686,596 | $2,009,686,596 |
Shares issued to shareholders in payment of distributions declared | 97,880,249 | 97,880,249 | 1,286,508 | 1,286,508 |
Shares redeemed | (3,869,151,652) | (3,869,151,652) | (2,341,742,449) | (2,341,742,449) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 3,916,114,632 | $3,916,114,632 | (330,769,345) | $(330,769,345) |
Period Ended 7/31/20231 | Year Ended 7/31/2022 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 50,000 | $50,000 | — | $— |
Shares issued to shareholders in payment of distributions declared | — | — | — | — |
Shares redeemed | — | — | — | — |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 50,000 | $50,000 | — | $— |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,788,262,301 | $2,788,262,301 | 312,738,480 | $312,738,480 |
Shares issued to shareholders in payment of distributions declared | 42,653,641 | 42,653,641 | 541,911 | 541,911 |
Shares redeemed | (2,275,564,208) | (2,275,564,208) | (357,543,870) | (357,543,870) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | 555,351,734 | $555,351,734 | (44,263,479) | $(44,263,479) |
Year Ended 7/31/2023 | Year Ended 7/31/2022 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 3,162,180,610 | $3,162,180,610 | 2,099,323,054 | $2,099,323,054 |
Shares issued to shareholders in payment of distributions declared | 29,201,117 | 29,201,117 | 458,515 | 458,515 |
Shares redeemed | (2,829,832,632) | (2,829,832,632) | (2,147,627,879) | (2,147,627,879) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 361,549,095 | $361,549,095 | (47,846,310) | $(47,846,310) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 4,833,065,461 | $4,833,065,461 | (422,879,134) | $(422,879,134) |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
2023 | 2022 | |
Ordinary income1 | $191,731,762 | $3,704,873 |
1 | For tax purposes, short-term capital gain distributions are considered ordinary income distributions. |
Undistributed ordinary income | $21,582 |
Capital loss carryforwards | $(67,423) |
TOTAL | $(45,841) |
Short-Term | Long-Term | Total |
$56,616 | $10,807 | $67,423 |
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 | $4,325,559 | $— |
Cash Series Shares | 5,639,287 | (939,881) |
TOTAL | $9,964,846 | $(939,881) |
September 25, 2023
Beginning Account Value 2/1/2023 | Ending Account Value 7/31/2023 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,023.70 | $1.00 |
Service Shares | $1,000 | $1,003.80 | $0.362 |
Cash II Shares | $1,000 | $1,020.20 | $4.46 |
Cash Series Shares | $1,000 | $1,019.50 | $5.21 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,023.80 | $1.00 |
Service Shares | $1,000 | $1,022.56 | $2.262 |
Cash II Shares | $1,000 | $1,020.38 | $4.46 |
Cash Series Shares | $1,000 | $1,019.64 | $5.21 |
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 | 0.20% |
Service Shares | 0.45% |
Cash II Shares | 0.89% |
Cash Series Shares | 1.04% |
2 | “Actual” expense information for the Fund’s Service Shares is for the period from July 3, 2023 (commencement of operations) to July 31, 2023. Actual expenses are equal to the Fund’s annualized net expense ratio of 0.45%, multiplied by 29/365 (to reflect the period from the commencement of operations to July 31, 2023). “Hypothetical” expense information for Service Shares is presented on the basis of the full one-half year period to enable comparison to other funds. It is based on assuming the same net expense ratio and average account value over the period, but it is 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: 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.; Lead Director, Member of the Audit and Nominating and Corporate Governance Committees, 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 (natural gas). 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 Associate General Secretary of the Diocese of Pittsburgh, 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 (natural gas). 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.; Director and Vice Chair, Our Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint Francis University. |
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. 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); Director, Midway Pacific (lumber); and Director, The Golisano Children’s Museum of Naples, Florida. |
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; formerly, Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors, Duquesne University (Retired). Other Directorships Held: None. Qualifications: Ms. Reilly has served in various business and legal management roles throughout her career. Ms. Reilly previously served as Senior Vice President for Legal Affairs, General Counsel and Secretary of Board of Directors and Director of Risk Management and Associate General Counsel, Duquesne University. Prior to her work at Duquesne University, Ms. Reilly served as Assistant General Counsel of Compliance and Enterprise Risk as well as Senior Counsel of Environment, Health and Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board of Directors of UPMC Mercy 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 |
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; 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 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 31423R864
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 2023 – $404,993
Fiscal year ended 2022 - $371,896
(b) Audit-Related Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2023 - $4,925
Fiscal year ended 2022 - $4,690
Fiscal year ended 2023- Audit consent fee for N-1A filing.
Fiscal year ended 2022- Audit consent fee for N-1A filing.
Amount requiring approval of the registrant’s Audit Committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, $0 and $0 respectively.
(c) Tax Fees billed to the registrant for the two most recent fiscal years:
Fiscal year ended 2023 - $0
Fiscal year ended 2022 - $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 2023 - $0
Fiscal year ended 2022 - $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 2023 – 0%
Fiscal year ended 2022 - 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 2023 – 0%
Fiscal year ended 2022 – 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 2023 – 0%
Fiscal year ended 2022 – 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 2023 - $286,699
Fiscal year ended 2022 - $214,080
(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 period covered by this 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 25, 2023
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 25, 2023
By /S/ Lori A. Hensler
Lori A. Hensler, Principal Financial Officer
Date September 25, 2023