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, PA 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: 07/31/24
Date of Reporting Period: Six months ended 01/31/24
Item 1. | Reports to Stockholders |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/imgf02284701.gif)
Ticker FRFXX |
Federated Hermes Capital Reserves Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Commercial Paper | 35.4% |
Variable Rate Instruments | 34.4% |
Certificates of Deposit | 15.8% |
Other Repurchase Agreements and Repurchase Agreements | 12.3% |
Asset-Backed Securities | 1.0% |
Investment Company2 | 0.7% |
Other Assets and Liabilities—Net3 | 0.4% |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 65.1%5 |
8-30 Days | 7.6% |
31-90 Days | 12.7% |
91-180 Days | 8.5% |
181 Days or more | 5.7% |
Other Assets and Liabilities—Net3 | 0.4% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for more complete information regarding these security types. |
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. |
4 | 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. |
5 | Overnight securities comprised 26.3% of the Fund’s portfolio. |
Principal Amount or Shares | Value in U.S. Dollars | ||
1 | COMMERCIAL PAPER— 35.4% | ||
Aerospace / Auto— 4.0% | |||
$155,000,000 | American Honda Finance Corp., (Honda Motor Co., Ltd. Support Agreement), 5.718% - 5.845%, 2/13/2024 - 4/4/2024 | $ 154,523,581 | |
Banking— 9.5% | |||
50,000,000 | Bank of Montreal, 5.980%, 8/1/2024 | 50,000,000 | |
50,000,000 | BPCE SA, 5.805%, 5/13/2024 | 49,201,000 | |
190,000,000 | Landesbank Hessen-Thuringen, 5.330%, 2/1/2024 | 190,000,000 | |
60,000,000 | Royal Bank of Canada, 5.520% - 5.999%, 3/20/2024 - 10/10/2024 | 58,275,200 | |
20,000,000 | Toronto Dominion Bank, 5.800%, 5/16/2024 | 19,680,042 | |
TOTAL | 367,156,242 | ||
Chemicals— 1.9% | |||
75,000,000 | PPG Industries, Inc., 5.587% - 5.636%, 2/1/2024 - 2/22/2024 | 74,948,233 | |
Consumer Products— 3.2% | |||
125,000,000 | Philip Morris International, Inc., 5.527% - 5.667%, 2/23/2024 - 3/8/2024 | 124,418,194 | |
Electric Power— 6.2% | |||
82,000,000 | Duke Energy Corp., 5.350%, 2/1/2024 | 82,000,000 | |
160,000,000 | NextEra Energy Capital Holdings, Inc., 5.624% - 5.810%, 2/2/2024 - 2/23/2024 | 159,800,611 | |
TOTAL | 241,800,611 | ||
Finance - Retail— 3.7% | |||
110,000,000 | Barton Capital S.A., 5.750% - 5.822%, 5/13/2024 - 5/14/2024 | 108,225,089 | |
35,000,000 | Starbird Funding Corp., 5.821%, 3/25/2024 | 34,708,868 | |
TOTAL | 142,933,957 | ||
Health Care— 5.9% | |||
190,000,000 | CVS Health Corp., 5.420%, 2/1/2024 | 190,000,000 | |
40,000,000 | McKesson Corp., 5.617%, 2/23/2024 | 39,863,356 | |
TOTAL | 229,863,356 | ||
Oil & Oil Finance— 1.0% | |||
40,000,000 | BP Capital Markets PLC, (BP PLC GTD), 5.789%, 3/6/2024 | 39,785,422 | |
TOTAL COMMERCIAL PAPER | 1,375,429,596 | ||
2 | NOTES-VARIABLE— 34.4% | ||
Aerospace / Auto— 0.6% | |||
25,000,000 | Toyota Motor Credit Corp., (Toyota Motor Corp. Support Agreement), 5.810% (SOFR +0.500%), 2/1/2024 | 25,000,000 |
Principal Amount or Shares | Value in U.S. Dollars | ||
2 | NOTES-VARIABLE— continued | ||
Banking— 22.1% | |||
$ 30,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(HSBC Bank PLC COL), 5.690% (Overnight Banking Fund Rate +0.380%), 2/1/2024 | $ 30,000,000 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.650%), 2/1/2024 | 50,000,000 | |
9,200,000 | Bragg 2019 Family Trust No. 1, Series 2019, (BOKF, N.A. LOC), 5.600%, 2/1/2024 | 9,200,000 | |
75,000,000 | Canadian Imperial Bank of Commerce, 6.010% (SOFR +0.700%), 2/1/2024 | 75,000,000 | |
25,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 25,000,000 | |
50,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 50,000,000 | |
20,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.860% (SOFR +0.550%), 2/1/2024 | 20,000,000 | |
1,360,000 | Colorado Health Facilities Authority, Series 2016B, (UMB Bank, N.A. LOC), 5.970%, 2/1/2024 | 1,360,000 | |
11,300,000 | Connecticut Water Co., Series 2004, (Citizens Bank, N.A. LOC), 5.690%, 2/7/2024 | 11,300,000 | |
6,750,000 | CT 2019 Irrevocable Trust, (BOKF, N.A. LOC), 5.600%, 2/1/2024 | 6,750,000 | |
17,625,000 | EG Irrevocable Life Insurance Trust, (BOKF, N.A. LOC), 5.600%, 2/1/2024 | 17,625,000 | |
9,590,000 | Eric and Lizzie Bommer Insurance Trust, (BOKF, N.A. LOC), 5.600%, 2/1/2024 | 9,590,000 | |
17,395,000 | Mason Harrison Ratliff Enterprises, LLC, (BOKF, N.A. LOC), 5.600%, 2/1/2024 | 17,395,000 | |
8,120,000 | MBW Legacy Investments, LLC, (BOKF, N.A. LOC), 5.600%, 2/1/2024 | 8,120,000 | |
25,000,000 | Mizuho Markets Cayman LP, 5.650% (SOFR +0.340%), 2/1/2024 | 25,000,000 | |
11,255,000 | NLS 2015 Irrevocable Trust, (BOKF, N.A. LOC), 5.600%, 2/1/2024 | 11,255,000 | |
15,000,000 | Nuveen Credit Strategies Income Fund, Taxable Preferred Shares (Series A), (Societe Generale, Paris LOC), 5.500%, 2/7/2024 | 15,000,000 | |
37,500,000 | Nuveen Preferred Income Opportunities Fund, Taxable Preferred Shares (Series A), (Sumitomo Mitsui Trust Bank Ltd. LOC), 5.500%, 2/1/2024 | 37,500,000 | |
50,000,000 | Nuveen Preferred Income Opportunities Fund, Variable Rate Demand Note (Series A), (Barclays Bank plc LIQ), 5.500%, 2/1/2024 | 50,000,000 | |
11,240,000 | Richard F. Wilks Spousal Gifting Trust, (BOKF, N.A. LOC), 5.600%, 2/1/2024 | 11,240,000 | |
27,640,000 | Rockcrest, LLC, (BOKF, N.A. LOC), 5.600%, 2/1/2024 | 27,640,000 | |
10,825,000 | Taxable Muni Funding Trust 2019-007, Taxable Municipal Funding Trust (Series 2019-007) VRDNs, (Barclays Bank plc LOC), 5.600%, 2/1/2024 | 10,825,000 | |
57,425,000 | Taxable Muni Funding Trust 2020-011, (Series 2020-011) VRDNs, (Barclays Bank plc LOC), 5.600%, 2/1/2024 | 57,425,000 |
Principal Amount or Shares | Value in U.S. Dollars | ||
2 | NOTES-VARIABLE— continued | ||
Banking— continued | |||
$ 2,200,000 | Taxable Muni Funding Trust 2021-002, Barclays Taxable Muni Funding Trust (Series 2021-002) VRDNs, (Barclays Bank plc LOC), 5.600%, 2/1/2024 | $ 2,200,000 | |
2,800,000 | Taxable Muni Funding Trust 2021-007, (Series 2021-007) VRDNs, (Barclays Bank plc LOC), 5.600%, 2/1/2024 | 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%, 2/1/2024 | 14,300,000 | |
10,700,000 | Taxable Muni Funding Trust 2021-010, (Series 2021-010) VRDNs, (Barclays Bank plc LOC), 5.600%, 2/1/2024 | 10,700,000 | |
6,500,000 | Taxable Tender Option Bond Trust 2021-MIZ9064TX, (Series 2021-MIZ9064TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.740%, 2/1/2024 | 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), 5.740%, 2/1/2024 | 5,150,000 | |
3,155,000 | Taxable Tender Option Bond Trust 2022-MIZ9094TX, (Series 2022-MIZ9094TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.740%, 2/1/2024 | 3,155,000 | |
9,825,000 | The KVR Insurance Trust, Series 2014, (BOKF, N.A. LOC), 5.600%, 2/1/2024 | 9,825,000 | |
115,000,000 | Toronto Dominion Bank, 6.010% (SOFR +0.700%), 2/1/2024 | 115,000,000 | |
25,000,000 | Versailles Commercial Paper LLC, (Natixis LIQ), 5.690% (SOFR +0.380%), 2/1/2024 | 25,000,000 | |
75,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 75,000,000 | |
13,000,000 | Yavapai County, AZ IDA - Recovery Zone Facility (Drake Cement LLC), Taxble (Series 2015) Weekly VRDNs, (Bank of Nova Scotia, Toronto LOC), 5.400%, 2/1/2024 | 13,000,000 | |
TOTAL | 859,855,000 | ||
Finance - Commercial— 3.9% | |||
150,000,000 | Atlantic Asset Securitization LLC, 5.590% (SOFR +0.280%), 2/1/2024 | 150,000,000 | |
Finance - Retail— 7.0% | |||
50,000,000 | Barton Capital S.A., 5.700% (SOFR +0.390%), 2/1/2024 | 50,000,000 | |
50,000,000 | Old Line Funding, LLC, 5.840% (SOFR +0.530%), 2/1/2024 | 50,000,000 | |
25,000,000 | Starbird Funding Corp., 5.610% (SOFR +0.300%), 2/1/2024 | 25,000,000 | |
100,000,000 | Thunder Bay Funding, LLC, 5.710% (SOFR +0.400%), 2/1/2024 | 100,000,000 | |
45,000,000 | Thunder Bay Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 45,000,000 | |
TOTAL | 270,000,000 | ||
Government Agency— 0.4% | |||
3,935,000 | Jerry P. Himmel Irrevocable Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 3,935,000 | |
6,745,000 | Millbrook, AL Redevelopment Authority, RAM Millbrook Hospitality LLC Project, Series 2017, (Federal Home Loan Bank of New York LOC), 5.450%, 2/1/2024 | 6,745,000 |
Principal Amount or Shares | Value in U.S. Dollars | ||
2 | NOTES-VARIABLE— continued | ||
Government Agency— continued | |||
$ 6,060,000 | Roberts Insurance Trusts, LLC, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | $ 6,060,000 | |
TOTAL | 16,740,000 | ||
Municipal— 0.4% | |||
15,000,000 | Texas State, Veterans Bonds (Taxable Series 2023A) Weekly VRDNs, (Texas State LIQ), 5.400%, 2/7/2024 | 15,000,000 | |
TOTAL NOTES-VARIABLE | 1,336,595,000 | ||
CERTIFICATES OF DEPOSIT— 15.8% | |||
Banking— 15.8% | |||
10,000,000 | Bank of America N.A., 5.180%, 1/24/2025 | 10,000,000 | |
25,000,000 | Bank of Nova Scotia, Toronto, 6.000%, 10/3/2024 | 25,000,000 | |
25,000,000 | BMO Bank, N.A., 6.000%, 9/9/2024 | 25,000,000 | |
38,000,000 | Canadian Imperial Bank of Commerce, 5.250%, 2/5/2024 | 38,000,000 | |
15,000,000 | Citibank N.A., New York, 6.010%, 9/18/2024 | 15,000,000 | |
100,000,000 | Credit Agricole Corporate and Investment Bank, 5.800% - 5.850%, 3/20/2024 - 5/7/2024 | 100,000,000 | |
100,000,000 | Credit Industriel et Commercial, 5.800%, 3/21/2024 | 100,000,000 | |
30,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.700%, 5/21/2024 | 30,000,000 | |
175,000,000 | Landesbank Baden-Wurttemberg, 5.330%, 2/1/2024 | 175,000,000 | |
75,000,000 | Royal Bank of Canada, New York Branch, 6.020%, 7/2/2024 | 75,000,000 | |
20,000,000 | Toronto Dominion Bank, 6.000%, 8/26/2024 | 20,000,000 | |
TOTAL CERTIFICATES OF DEPOSIT | 613,000,000 | ||
OTHER REPURCHASE AGREEMENTS— 9.9% | |||
125,000,000 | Repurchase agreement, 5.39% dated 1/31/2024 under which BNP Paribas SA will repurchase the securities provided as collateral for $125,018,715 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were asset-backed securities, collateralized mortgage-backed obligations, corporate bonds, medium term notes, sovereign debt securities and U.S. Government Agency securities with various maturities to 12/31/2079 and the market value of those underlying securities was $127,519,917. | 125,000,000 | |
40,000,000 | Interest in $90,000,000 joint repurchase agreement, 5.37% dated 1/31/2024 under which BofA Securities, Inc. will repurchase the securities provided as collateral for $90,013,425 on 2/1/2024. 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 8/15/2061 and the market value of those underlying securities was $91,800,252. | 40,000,000 |
Principal Amount or Shares | Value in U.S. Dollars | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
$ 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 $116,975,894 on 2/8/2024. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were asset-backed securities, collateralized mortgage-backed obligations, corporate bonds, medium term notes and mortgage backed securities with various maturities to 2/25/2050 and the market value of those underlying securities was $112,216,861. | $ 50,000,000 | |
25,000,000 | Interest in $50,000,000 joint repurchase agreement, 5.94% dated 1/29/2024 under which BofA Securities, Inc. will repurchase the securities provided as collateral for $50,767,250 on 5/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were american depository receipts, convertible bonds, medium term notes and sovereign debt securities with various maturities to 4/20/2055 and the market value of those underlying securities was $51,025,203. | 25,000,000 | |
60,000,000 | Repurchase agreement, 5.41% dated 1/31/2024 under which HSBC Securities (USA), Inc. will repurchase the securities provided as collateral for $60,009,017 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were corporate bonds, medium term notes and sovereign debt securities with various maturities to 9/15/2055 and the market value of those underlying securities was $61,200,067. | 60,000,000 | |
10,000,000 | Interest in $50,000,000 joint repurchase agreement, 5.91% dated 2/9/2023 under which Mizuho Securities USA, Inc. will repurchase the securities provided as collateral for $53,258,708 on 3/12/2024. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were mortgage backed securities with various maturities to 2/27/2040 and the market value of those underlying securities was $51,510,723. | 10,000,000 | |
25,000,000 | Repurchase agreement, 5.81% dated 1/9/2023 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $26,928,597 on 5/1/2024. 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 $25,624,944. | 25,000,000 | |
25,000,000 | Repurchase agreement, 5.84% dated 2/3/2022 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $28,224,167 on 4/8/2024. 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 $25,595,178. | 25,000,000 | |
25,000,000 | Repurchase agreement, 5.95% dated 12/12/2023 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $25,355,347 on 3/7/2024. 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 3/1/2027 and the market value of those underlying securities was $25,715,488. | 25,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS | 385,000,000 |
Principal Amount or Shares | Value in U.S. Dollars | ||
REPURCHASE AGREEMENTS— 2.4% | |||
$ 50,000,000 | Interest in $450,000,000 joint repurchase agreement, 5.320% dated 1/31/2024 under which BMO Harris Bank will repurchase the securities provided as collateral for $450,066,500 on 2/1/2024. 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 8/20/2041 and the market value of those underlying securities was $477,367,894. | $ 50,000,000 | |
44,000,000 | Interest in $400,000,000 joint repurchase agreement, 5.310% dated 1/31/2024 under which BNP Paribas SA will repurchase the securities provided as collateral for $400,059,000 on 2/1/2024. 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 8/15/2052 and the market value of those underlying securities was $408,060,180. | 44,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 94,000,000 | ||
ASSET-BACKED SECURITIES— 1.0% | |||
15,057,578 | Auxilior Term Funding 2023-1, LLC, Class A1, 5.864%, 11/15/2024 | 15,057,578 | |
8,000,000 | Enterprise Fleet Financing, LLC 2024-1, Class A1, 5.548%, 2/20/2025 | 8,000,000 | |
12,500,000 | GreatAmerica Leasing Receivables 2024-1, Class A1, 5.550%, 2/18/2025 | 12,500,000 | |
2,340,274 | M&T Equipment (2023-LEAF1) Notes, Class A1, 5.742%, 8/15/2024 | 2,340,273 | |
TOTAL ASSET-BACKED SECURITIES | 37,897,851 | ||
INVESTMENT COMPANY— 0.7% | |||
26,997,300 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 5.42%3 | 27,000,103 | |
TOTAL INVESTMENT IN SECURITIES—99.6% (AT AMORTIZED COST)4 | 3,868,922,550 | ||
OTHER ASSETS AND LIABILITIES - NET—0.4%5 | 16,904,134 | ||
TOTAL NET ASSETS—100% | $3,885,826,684 |
Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | |
Value as of 7/31/2023 | $27,000,103 |
Purchases at Cost | $— |
Proceeds from Sales | $— |
Change in Unrealized Appreciation/Depreciation | $— |
Net Realized Gain/(Loss) | $— |
Value as of 1/31/2024 | $27,000,103 |
Shares Held as of 1/31/2024 | 26,997,300 |
Dividend Income | $738,919 |
1 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
2 | Floating/variable note with current rate and current maturity or next reset date shown. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
3 | 7-day net yield. |
4 | Also represents cost of investments for federal tax purposes. |
5 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Valuation Inputs | ||||
Level 1— Quoted Prices | Level 2— Other Significant Observable Inputs | Level 3— Significant Unobservable Inputs | Total | |
Debt Securities: | ||||
Commercial Paper | $— | $1,375,429,596 | $— | $1,375,429,596 |
Notes-Variable | — | 1,336,595,000 | — | 1,336,595,000 |
Certificates of Deposit | — | 613,000,000 | — | 613,000,000 |
Asset-Backed Securities | — | 37,897,851 | — | 37,897,851 |
Other Repurchase Agreements | — | 385,000,000 | — | 385,000,000 |
Repurchase Agreements | — | 94,000,000 | — | 94,000,000 |
Investment Company | 27,000,103 | — | — | 27,000,103 |
TOTAL SECURITIES | $27,000,103 | $3,841,922,447 | $— | $3,868,922,550 |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
GTD | —Guaranteed | |
IDA | —Industrial Development Authority | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
SOFR | —Secured Overnight Financing Rate | |
VRDNs | —Variable Rate Demand Notes |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.024 | 0.034 | 0.001 | 0.0002 | 0.007 | 0.016 |
Net realized gain (loss) | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
Total from Investment Operations | 0.024 | 0.034 | 0.001 | 0.0002 | 0.007 | 0.016 |
Less Distributions: | ||||||
Distributions from net income | (0.024) | (0.034) | (0.001) | (0.000)2 | (0.007) | (0.016) |
Distributions from net realized gain | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
TOTAL DISTRIBUTIONS | (0.024)2 | (0.034)2 | (0.001)2 | (0.000)2 | (0.007)2 | (0.016)2 |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.39% | 3.460% | 0.11% | 0.01% | 0.68% | 1.58% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 1.02%5,6 | 1.02%6 | 0.45% | 0.23%6 | 0.94%6 | 1.02%6 |
Net investment income | 4.70%5 | 3.36% | 0.11% | 0.01% | 0.65% | 1.58% |
Expense waiver/ reimbursement7 | 0.15%5 | 0.18% | 0.76% | 0.97% | 0.28% | 0.19% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $3,885,827 | $3,684,400 | $4,375,913 | $4,295,924 | $4,312,748 | $4,030,191 |
1 | Per share number has been calculated using the average shares method. |
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 | The net expense ratios are calculated without reduction for expense offset arrangements. The net expense ratios were 1.02% for the six months ended January 31, 2024 and 1.02%, 0.23%, 0.94% and 1.02% for the years ended July 31, 2023, 2021, 2020 and 2019, respectively, after taking into account these expense reductions. |
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. |
Assets: | |
Investment in securities, at value including $27,000,103 of investment in an affiliated holding* (identified cost $3,389,922,550, including $27,000,103 of identified cost in an affiliated holding) | $3,389,922,550 |
Investment in repurchase agreements and other repurchase agreements | 479,000,000 |
Investment in securities, at amortized cost and fair value | 3,868,922,550 |
Cash | 809,498 |
Income receivable | 18,847,014 |
Income receivable from an affiliated holding | 126,062 |
Receivable for shares sold | 323 |
Total Assets | 3,888,705,447 |
Liabilities: | |
Payable for distribution services fee (Note 4) | $1,487,101 |
Payable for other service fees (Notes 2 and 4) | 814,778 |
Payable for transfer agent fees | 316,681 |
Payable for portfolio accounting fees | 137,666 |
Payable for investment adviser fee (Note 4) | 11,932 |
Payable for administrative fee (Note 4) | 8,014 |
Payable for Directors’/Trustees’ fees (Note 4) | 3,233 |
Payable for shares redeemed | 323 |
Accrued expenses | 99,035 |
TOTAL LIABILITIES | 2,878,763 |
Net assets for 3,885,833,944 shares outstanding | $3,885,826,684 |
Net Assets Consist of: | |
Paid-in capital | $3,885,821,386 |
Total distributable earnings (loss) | 5,298 |
TOTAL NET ASSETS | $3,885,826,684 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
$3,885,826,684 ÷ 3,885,833,944 shares outstanding, no par value, unlimited shares authorized | $1.00 |
* | See information listed after the Fund’s Portfolio of Investments. |
Investment Income: | |
Interest | $108,595,130 |
Dividends received from affiliated holdings* | 738,919 |
TOTAL INCOME | 109,334,049 |
Expenses: | |
Investment adviser fee (Note 4) | $3,179,088 |
Administrative fee (Note 4) | 1,486,563 |
Custodian fees | 54,508 |
Transfer agent fees | 1,916,833 |
Directors’/Trustees’ fees (Note 4) | 9,255 |
Auditing fees | 12,973 |
Legal fees | 5,326 |
Distribution services fee (Note 4) | 10,507,213 |
Other service fees (Notes 2 and 4) | 4,774,385 |
Portfolio accounting fees | 91,518 |
Share registration costs | 310,532 |
Printing and postage | 130,039 |
Miscellaneous (Note 4) | 18,735 |
TOTAL EXPENSES | 22,496,968 |
Waivers, Reimbursement and Reduction: | |
Waiver/reimbursement of investment adviser fee (Note 4) | (1,031,951) |
Waiver of other operating expenses (Notes 2 and 4) | (1,910,402) |
Reduction of custodian fees (Note 5) | (15,494) |
TOTAL WAIVERS, REIMBURSEMENT AND REDUCTION | (2,957,847) |
Net expenses | 19,539,121 |
Net investment income | 89,794,928 |
Net realized gain on investments | 21,324 |
Change in net assets resulting from operations | $89,816,252 |
* | See information listed after the Fund’s Portfolio of Investments. |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $89,794,928 | $136,523,630 |
Net realized gain | 21,324 | 94,878 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 89,816,252 | 136,618,508 |
Distribution to Shareholders | (89,905,283) | (136,565,720) |
Share Transactions: | ||
Proceeds from sale of shares | 1,189,910,422 | 1,930,583,347 |
Net asset value of shares issued to shareholders in payment of distributions declared | 44,044,190 | 132,614,687 |
Cost of shares redeemed | (1,032,439,082) | (2,754,763,773) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 201,515,530 | (691,565,739) |
Change in net assets | 201,426,499 | (691,512,951) |
Net Assets: | ||
Beginning of period | 3,684,400,185 | 4,375,913,136 |
End of period | $3,885,826,684 | $3,684,400,185 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |
Shares sold | 1,189,910,422 | 1,930,583,347 |
Shares issued to shareholders in payment of distributions declared | 44,044,190 | 132,614,687 |
Shares redeemed | (1,032,439,082) | (2,754,763,773) |
NET CHANGE RESULTING FROM FUND SHARE TRANSACTIONS | 201,515,530 | (691,565,739) |
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 |
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,023.90 | $5.19 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,020.01 | $5.18 |
1 | Expenses are equal to the Fund’s annualized net expense ratio of 1.02%, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/fhilogok11p.jpg)
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/img5890b0551.gif)
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
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Repurchase Agreements | 58.6% |
U.S. Government Agency Securities | 21.5% |
U.S. Treasury Securities | 19.7% |
Other Assets and Liabilities—Net2 | 0.2% |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 78.9%4 |
8-30 Days | 5.3% |
31-90 Days | 5.4% |
91-180 Days | 4.1% |
181 Days or more | 6.1% |
Other Assets and Liabilities—Net2 | 0.2% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for more complete information regarding these security types. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
3 | 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. |
4 | Overnight securities comprised 55.1% of the Fund’s portfolio. |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— 58.6% | |||
$ 200,000,000 | Repurchase agreement, 5.320% dated 1/31/2024 under which ABN Amro Bank N.V. will repurchase the securities provided as collateral for $200,029,556 on 2/1/2024. 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 1/16/2062 and the market value of those underlying securities was $204,245,001. | $ 200,000,000 | |
50,000,000 | Repurchase agreement, 5.320% dated 1/31/2024 under which ABN Amro Bank N.V. will repurchase the securities provided as collateral for $50,007,389 on 2/1/2024. 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 8/1/2059 and the market value of those underlying securities was $51,358,136. | 50,000,000 | |
575,618,000 | Interest in $1,685,000,000 joint repurchase agreement, 5.32% dated 1/31/2024 under which Bank of America Securities, Inc. will repurchase the securities provided as collateral for $1,685,249,006 on 2/1/2024. 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 12/20/2072 and the market value of those underlying securities was $1,719,213,900. | 575,618,000 | |
150,000,000 | Repurchase agreement, 5.310% dated 1/31/2024 under which Bank of America Securities, Inc. will repurchase the securities provided as collateral for $150,022,125 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Treasury Securities with various maturities to 2/15/2053 and the market value of those underlying securities was $153,022,639. | 150,000,000 | |
100,000,000 | Repurchase agreement, 5.350% dated 1/29/2024 under which Bank of America Securities, Inc. will repurchase the securities provided as collateral for $100,772,778 on 3/21/2024. 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 1/1/2054 and the market value of those underlying securities was $102,382,558. | 100,000,000 | |
100,000,000 | Repurchase agreement, 5.350% dated 1/30/2024 under which Bank of America Securities, Inc. will repurchase the securities provided as collateral for $100,757,917 on 3/21/2024. 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 1/20/2053 and the market value of those underlying securities was $102,059,623. | 100,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 150,000,000 | Repurchase agreement, 5.290% dated 1/31/2024 under which Barclays Capital, Inc. will repurchase the securities provided as collateral for $150,022,042 on 2/1/2024. 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 5/15/2031 and the market value of those underlying securities was $153,022,512. | $ 150,000,000 | |
400,000,000 | Interest in $450,000,000 joint repurchase agreement, 5.320% dated 1/31/2024 under which BMO Bank N.A. will repurchase the securities provided as collateral for $450,066,500 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Government Agency with various maturities to 8/20/2041 and the market value of those underlying securities was $477,367,894. | 400,000,000 | |
143,220,000 | Interest in $400,000,000 joint repurchase agreement, 5.310% dated 1/31/2024 under which BNP Paribas SA will repurchase the securities provided as collateral for $400,059,000 on 2/1/2024. 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 8/15/2052 and the market value of those underlying securities was $408,060,180. | 143,220,000 | |
238,000,000 | Repurchase agreement, 5.310% dated 1/31/2024 under which BNP Paribas SA will repurchase the securities provided as collateral for $238,035,105 on 2/1/2024. 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 8/15/2053 and the market value of those underlying securities was $242,795,826. | 238,000,000 | |
200,000,000 | Repurchase agreement, 5.350% dated 12/14/2023 under which BNP Paribas SA will repurchase the securities provided as collateral for $201,842,778 on 2/14/2024. 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 11/20/2053 and the market value of those underlying securities was $206,040,059. | 200,000,000 | |
300,000,000 | Interest in $600,000,000 joint repurchase agreement, 5.320% dated 1/31/2024 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $600,088,667 on 2/1/2024. 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 5/20/2052 and the market value of those underlying securities was $612,090,526. | 300,000,000 | |
250,000,000 | Repurchase agreement, 5.350% dated 1/3/2024 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $251,226,042 on 2/5/2024. 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 12/1/2036 and the market value of those underlying securities was $258,296,977. | 250,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 150,000,000 | Repurchase agreement, 5.350% dated 1/9/2024 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $150,668,750 on 2/8/2024. 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 10/20/2053 and the market value of those underlying securities was $153,523,051. | $ 150,000,000 | |
25,000,000 | Repurchase agreement, 5.400% dated 1/31/2024 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $25,228,750 on 4/1/2024. 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 8/1/2053 and the market value of those underlying securities was $25,504,287. | 25,000,000 | |
25,000,000 | Repurchase agreement, 5.410% dated 1/31/2024 under which Citigroup Global Markets, Inc. will repurchase the securities provided as collateral for $25,334,368 on 4/29/2024. 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 8/1/2053 and the market value of those underlying securities was $25,503,837. | 25,000,000 | |
1,000,000,000 | Repurchase agreement, 5.320% dated 1/31/2024 under which Fixed Income Clearing Corporation BNY Mellon will repurchase the securities provided as collateral for $1,000,147,778 on 2/1/2024. 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 1/1/2054 and the market value of those underlying securities was $1,029,709,426. | 1,000,000,000 | |
50,000,000 | Repurchase agreement, 5.310% dated 1/31/2024 under which HSBC Securities (USA), Inc. will repurchase the securities provided as collateral for $50,007,375 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Government Agency Securities with various maturities to 2/1/2054 and the market value of those underlying securities was $51,000,000. | 50,000,000 | |
50,000,000 | Repurchase agreement, 5.340% dated 1/16/2024 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $50,222,500 on 2/15/2024. 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 1/1/2054 and the market value of those underlying securities was $51,121,040. | 50,000,000 | |
100,000,000 | Repurchase agreement, 5.350% dated 1/29/2024 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $100,876,806 on 3/28/2024. The securities provided as collateral at the end of the period held with BNY Mellon, tri-party agent, were U.S. Government Agency Securities with various maturities to 2/1/2054 and the market value of those underlying securities was $102,045,475. | 100,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 20,000,000 | Repurchase agreement, 5.430% dated 11/30/2023 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $20,268,483 on 2/27/2024. 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 1/1/2054 and the market value of those underlying securities was $20,593,852. | $ 20,000,000 | |
50,000,000 | Repurchase agreement, 5.430% dated 12/14/2023 under which Wells Fargo Securities LLC will repurchase the securities provided as collateral for $50,678,750 on 3/13/2024. 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 1/1/2054 and the market value of those underlying securities was $51,376,933. | 50,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 4,326,838,000 | ||
GOVERNMENT AGENCIES— 21.5% | |||
7,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.350% (SOFR +0.040%), 2/1/2024 | 7,000,000 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.350% (SOFR +0.040%), 2/1/2024 | 25,000,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.355% (SOFR +0.045%), 2/1/2024 | 10,000,000 |
30,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.355% (SOFR +0.045%), 2/1/2024 | 30,000,000 |
14,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.355% (SOFR +0.045%), 2/1/2024 | 14,000,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.360% (SOFR +0.050%), 2/1/2024 | 10,000,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.370% (SOFR +0.060%), 2/1/2024 | 9,999,943 |
15,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.370% (SOFR +0.060%), 2/1/2024 | 15,000,000 |
12,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.385% (SOFR +0.075%), 2/1/2024 | 11,999,942 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.390% (SOFR +0.080%), 2/1/2024 | 10,000,000 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.390% (SOFR +0.080%), 2/1/2024 | 24,999,601 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.395% (SOFR +0.085%), 2/1/2024 | 9,999,859 |
22,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.395% (SOFR +0.085%), 2/1/2024 | 22,000,000 |
18,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.395% (SOFR +0.085%), 2/1/2024 | 18,000,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.400% (SOFR +0.090%), 2/1/2024 | 10,000,000 |
12,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.400% (SOFR +0.090%), 2/1/2024 | 12,000,000 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES— continued | |||
$ 10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.405% (SOFR +0.095%), 2/1/2024 | $ 10,000,000 |
12,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.405% (SOFR +0.095%), 2/1/2024 | 12,000,000 |
15,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.410% (SOFR +0.100%), 2/1/2024 | 15,000,000 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.410% (SOFR +0.100%), 2/1/2024 | 20,000,000 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.410% (SOFR +0.100%), 2/1/2024 | 25,000,000 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.410% (SOFR +0.100%), 2/1/2024 | 25,000,000 |
11,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.410% (SOFR +0.100%), 2/1/2024 | 10,996,713 |
16,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.415% (SOFR +0.105%), 2/1/2024 | 16,000,000 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.420% (SOFR +0.110%), 2/1/2024 | 20,000,000 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.430% (SOFR +0.120%), 2/1/2024 | 20,000,000 |
5,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.430% (SOFR +0.120%), 2/1/2024 | 5,000,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.440% (SOFR +0.130%), 2/1/2024 | 9,999,788 |
40,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.440% (SOFR +0.130%), 2/1/2024 | 40,000,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.465% (SOFR +0.155%), 2/1/2024 | 10,000,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.470% (SOFR +0.160%), 2/1/2024 | 10,000,000 |
7,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.470% (SOFR +0.160%), 2/1/2024 | 7,000,000 |
24,750,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.475% (SOFR +0.165%), 2/1/2024 | 24,750,000 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.475% (SOFR +0.165%), 2/1/2024 | 24,996,997 |
12,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.480% (SOFR +0.170%), 2/1/2024 | 12,000,000 |
5,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.480% (SOFR +0.170%), 2/1/2024 | 5,000,000 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.485% (SOFR +0.175%), 2/1/2024 | 20,000,000 |
15,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.510% (SOFR +0.200%), 2/1/2024 | 15,000,000 |
14,000,000 | 2 | Federal Home Loan Bank System Discount Notes, 0.000% - 0.000%, 10/18/2024 - 10/25/2024 | 13,510,962 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES— continued | |||
$ 107,000,000 | 2 | Federal Home Loan Bank System Discount Notes, 4.600% - 5.320%, 2/2/2024 - 1/22/2025 | $ 104,934,294 |
20,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.360% (SOFR +0.050%), 2/1/2024 | 20,000,000 |
11,900,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.380% (SOFR +0.070%), 2/1/2024 | 11,900,000 |
10,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.380% (SOFR +0.070%), 2/1/2024 | 10,000,000 |
20,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.380% (SOFR +0.070%), 2/1/2024 | 20,000,000 |
25,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.410% (SOFR +0.100%), 2/1/2024 | 25,000,000 |
20,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.410% (SOFR +0.100%), 2/1/2024 | 20,000,000 |
20,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.415% (SOFR +0.105%), 2/1/2024 | 20,000,925 |
10,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.435% (SOFR +0.125%), 2/1/2024 | 10,000,000 |
20,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.465% (SOFR +0.155%), 2/1/2024 | 20,001,548 |
11,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.470% (SOFR +0.160%), 2/1/2024 | 11,000,000 |
20,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.470% (SOFR +0.160%), 2/1/2024 | 20,000,000 |
23,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.520% (SOFR +0.210%), 2/1/2024 | 23,000,000 |
623,100,000 | Federal Home Loan Bank System, 4.980% - 5.640%, 2/16/2024 - 2/14/2025 | 623,099,198 | |
35,000,000 | Federal Home Loan Mortgage Corp., 5.410% - 5.420%, 6/14/2024 - 6/17/2024 | 35,000,000 | |
TOTAL GOVERNMENT AGENCIES | 1,585,189,770 | ||
U.S. TREASURY— 19.7% | |||
37,500,000 | 2 | United States Treasury Bill, 5.020%, 7/25/2024 | 36,584,896 |
16,000,000 | 2 | United States Treasury Bill, 5.030%, 7/11/2024 | 15,640,076 |
32,000,000 | 2 | United States Treasury Bill, 5.045%, 7/5/2024 | 31,304,911 |
39,000,000 | 2 | United States Treasury Bill, 5.135%, 10/31/2024 | 37,481,324 |
15,000,000 | 2 | United States Treasury Bill, 5.220%, 4/23/2024 | 14,821,650 |
35,500,000 | 2 | United States Treasury Bill, 5.225%, 4/18/2024 | 35,103,263 |
50,000,000 | 2 | United States Treasury Bill, 5.250%, 4/16/2024 | 49,453,125 |
75,250,000 | 2 | United States Treasury Bill, 5.275%, 2/22/2024 | 75,018,669 |
30,400,000 | 2 | United States Treasury Bill, 5.275%, 3/26/2024 | 30,160,144 |
32,320,000 | 2 | United States Treasury Bill, 5.290%, 2/15/2024 | 32,253,573 |
38,000,000 | 2 | United States Treasury Bill, 5.320%, 5/2/2024 | 37,488,984 |
45,000,000 | 2 | United States Treasury Bill, 5.325%, 4/25/2024 | 44,440,875 |
37,000,000 | 2 | United States Treasury Bills, 4.975% - 4.985%, 7/18/2024 | 36,140,983 |
Principal Amount | Value | ||
U.S. TREASURY— continued | |||
$ 33,000,000 | 2 | United States Treasury Bills, 5.250% - 5.275%, 3/12/2024 | $ 32,806,217 |
35,000,000 | 2 | United States Treasury Bills, 5.250% - 5.290%, 2/6/2024 | 34,974,285 |
48,000,000 | 2 | United States Treasury Bills, 5.250% - 5.355%, 2/13/2024 | 47,915,600 |
87,000,000 | 2 | United States Treasury Bills, 5.260% - 5.335%, 2/27/2024 | 86,666,120 |
20,000,000 | 2 | United States Treasury Bills, 5.280% - 5.285%, 2/8/2024 | 19,979,447 |
35,000,000 | 2 | United States Treasury Bills, 5.285% - 5.340%, 3/5/2024 | 34,830,440 |
141,000,000 | 1 | United States Treasury Floating Rate Notes, 5.204% (91-day T-Bill -0.075%), 2/6/2024 | 140,986,976 |
100,000,000 | 1 | United States Treasury Floating Rate Notes, 5.316% (91-day T-Bill +0.037%), 2/6/2024 | 99,973,420 |
117,600,000 | 1 | United States Treasury Floating Rate Notes, 5.404% (91-day T-Bill +0.125%), 2/6/2024 | 117,544,193 |
45,000,000 | 1 | United States Treasury Floating Rate Notes, 5.419% (91-day T-Bill +0.140%), 2/6/2024 | 44,973,561 |
76,000,000 | 1 | United States Treasury Floating Rate Notes, 5.448% (91-day T-Bill +0.169%), 2/6/2024 | 76,012,527 |
74,000,000 | 1 | United States Treasury Floating Rate Notes, 5.449% (91-day T-Bill +0.170%), 2/6/2024 | 73,926,550 |
168,000,000 | 1 | United States Treasury Floating Rate Notes, 5.479% (91-day T-Bill +0.200%), 2/6/2024 | 168,019,442 |
TOTAL U.S. TREASURY | 1,454,501,251 | ||
TOTAL INVESTMENT IN SECURITIES—99.8% (AT AMORTIZED COST)3 | 7,366,529,021 | ||
OTHER ASSETS AND LIABILITIES - NET—0.2%4 | 14,035,410 | ||
TOTAL NET ASSETS—100% | $7,380,564,431 |
1 | Floating/variable note with current rate and current maturity or next reset date shown. |
2 | Discount rate 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 |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.023 | 0.032 | 0.0002 | 0.0002 | 0.006 | 0.015 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
TOTAL FROM INVESTMENT OPERATIONS | 0.023 | 0.032 | 0.0002 | 0.0002 | 0.006 | 0.015 |
Less Distributions: | ||||||
Distributions from net investment income | (0.023) | (0.032) | (0.000)2 | (0.000)2 | (0.006) | (0.015) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | — | — |
TOTAL DISTRIBUTIONS | (0.023) | (0.032) | (0.000)2 | (0.000)2 | (0.006) | (0.015) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.30% | 3.23% | 0.09% | 0.01% | 0.61% | 1.47% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.87%5,6 | 0.87%6 | 0.29% | 0.11%6 | 0.64%6 | 0.87%6 |
Net investment income | 4.54%5 | 3.31% | 0.08% | 0.01% | 0.54% | 1.48% |
Expense waiver/reimbursement7 | 0.12%5 | 0.15% | 0.73% | 0.92% | 0.41% | 0.14% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $231,125 | $197,430 | $132,620 | $133,442 | $150,878 | $103,120 |
1 | Per share numbers have been calculated using the average shares method. |
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 | The net expense ratios are calculated without reduction for expense offset arrangements. The net expense ratios are 0.87%, 0.87%, 0.11%, 0.64% and 0.87% for the six months ended January 31, 2024 and for the years ended July 31, 2023, 2021, 2020 and 2019, respectively, after taking into account these expense reductions. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.021 | 0.028 | 0.0002 | 0.0002 | 0.004 | 0.011 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
TOTAL FROM INVESTMENT OPERATIONS | 0.021 | 0.028 | 0.0002 | 0.0002 | 0.004 | 0.011 |
Less Distributions: | ||||||
Distributions from net investment income | (0.021) | (0.028) | (0.000)2 | (0.000)2 | (0.004) | (0.011) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | — | — |
TOTAL DISTRIBUTIONS | (0.021) | (0.028) | (0.000)2 | (0.000)2 | (0.004) | (0.011) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.11% | 2.85% | 0.04% | 0.01% | 0.38% | 1.08% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 1.25%5,6 | 1.25%6 | 0.38% | 0.10%6 | 0.69%6 | 1.26%6 |
Net investment income | 4.16%5 | 2.82% | 0.04% | 0.01% | 0.22% | 1.09% |
Expense waiver/reimbursement7 | 0.05%5 | 0.08% | 0.94% | 1.23% | 0.65% | 0.08% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $3,539 | $5,524 | $5,543 | $5,677 | $8,299 | $4,505 |
1 | Per share numbers have been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value, which does not reflect the sales charge, redemption fee or contingent deferred sales charge, if applicable. 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 | The net expense ratios are calculated without reduction for expense offset arrangements. The net expense ratios are 1.25%, 1.25%, 0.10%, 0.69% and 1.26% for the six months ended January 31, 2024 and for the years ended July 31, 2023, 2021, 2020 and 2019, respectively, after taking into account these expense reductions. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.023 | 0.032 | 0.0002 | 0.0002 | 0.006 | 0.015 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
TOTAL FROM INVESTMENT OPERATIONS | 0.023 | 0.032 | 0.0002 | 0.0002 | 0.006 | 0.015 |
Less Distributions: | ||||||
Distributions from net investment income | (0.023) | (0.032) | (0.000)2 | (0.000)2 | (0.006) | (0.015) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | — | — |
TOTAL DISTRIBUTIONS | (0.023) | (0.032) | (0.000)2 | (0.000)2 | (0.006) | (0.015) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.30% | 3.23% | 0.09% | 0.01% | 0.61% | 1.47% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.87%5, 6 | 0.87%6 | 0.30% | 0.11%6 | 0.62%6 | 0.87%6 |
Net investment income | 4.54%5 | 3.13% | 0.09% | 0.01% | 0.53% | 1.49% |
Expense waiver/reimbursement7 | 0.14%5 | 0.17% | 0.66% | 0.89% | 0.42% | 0.16% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $1,340 | $1,514 | $1,692 | $1,609 | $1,743 | $1,556 |
1 | Per share numbers have been calculated using the average shares method. |
2 | Represents less than $0.001. |
3 | Based on net asset value, which does not reflect the sales charge, redemption fee or contingent deferred sales charge, if applicable. 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 | The net expense ratios are calculated without reduction for expense offset arrangements. The net expense ratios are 0.87%, 0.87%, 0.11%, 0.62% and 0.87% for the six months ended January 31, 2024 and for the years ended July 31, 2023, 2021, 2020 and 2019, respectively, after taking into account these expense reductions. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.022 | 0.030 | 0.0002 | 0.0002 | 0.005 | 0.013 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
TOTAL FROM INVESTMENT OPERATIONS | 0.022 | 0.030 | 0.0002 | 0.0002 | 0.005 | 0.013 |
Less Distributions: | ||||||
Distributions from net investment income | (0.022) | (0.030) | (0.000)2 | (0.000)2 | (0.005) | (0.013) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | — | — |
TOTAL DISTRIBUTIONS | (0.022) | (0.030) | (0.000)2 | (0.000)2 | (0.005) | (0.013) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.23% | 3.08% | 0.07% | 0.01% | 0.52% | 1.32% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 1.02%5, 6 | 1.02%6 | 0.30% | 0.11%6 | 0.72%6 | 1.02%6 |
Net investment income | 4.39%5 | 2.93% | 0.06% | 0.01% | 0.47% | 1.31% |
Expense waiver/ reimbursement7 | 0.15%5 | 0.18% | 0.89% | 1.09% | 0.48% | 0.18% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $7,144,560 | $7,634,431 | $10,881,572 | $11,417,910 | $10,706,195 | $8,069,420 |
1 | Per share numbers have been calculated using the average shares method. |
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 | The net expense ratios are calculated without reduction for expense offset arrangements. The net expense ratios are 1.02%, 1.02%, 0.11%, 0.72% and 1.02% for the six months ended January 31, 2024 and for the years ended July 31, 2023, 2021, 2020 and 2019, respectively, after taking into account these expense reductions. |
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. |
Assets: | |
Investment in securities | $3,039,691,021 |
Investment in repurchase agreements | 4,326,838,000 |
Investment in securities, at amortized cost and fair value | 7,366,529,021 |
Cash | 113,336 |
Income receivable | 19,194,704 |
Receivable for shares sold | 581,216 |
Total Assets | 7,386,418,277 |
Liabilities: | |
Payable for distribution services fee (Note 5) | $2,804,598 |
Payable for other service fees (Notes 2 and 5) | 1,581,821 |
Payable for transfer agent fees (Note 2) | 639,957 |
Payable for shares redeemed | 280,799 |
Payable for custodian fees | 177,130 |
Payable for portfolio accounting fees | 145,144 |
Payable for investment adviser fee (Note 5) | 23,470 |
Payable for administrative fee (Note 5) | 15,411 |
Income distribution payable | 12,378 |
Payable for Directors’/Trustees’ fees (Note 5) | 6,731 |
Accrued expenses (Note 5) | 166,407 |
TOTAL LIABILITIES | 5,853,846 |
Net assets for 7,380,590,079 shares outstanding | $7,380,564,431 |
Net Assets Consist of: | |
Paid-in capital | $7,380,588,943 |
Total distributable earnings (loss) | (24,512) |
TOTAL NET ASSETS | $7,380,564,431 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Class A Shares: | |
Net asset value per share ($231,125,261 ÷ 231,124,751 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 ($3,539,337 ÷ 3,539,357 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 ($1,339,950 ÷ 1,339,955 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 ($7,144,559,883 ÷ 7,144,586,016 shares outstanding), no par value, unlimited shares authorized | $1.00 |
Offering price per share | $1.00 |
Redemption proceeds per share | $1.00 |
1 | Under certain limited conditions, a “Contingent Deferred Sales Charge” of up to 1.00% for Class C Shares and Class F Shares may be imposed. See “Sales Charge When You Redeem” in the Prospectus. |
Investment Income: | |
Interest | $207,334,733 |
Expenses: | |
Investment adviser fee (Note 5) | $6,401,052 |
Administrative fee (Note 5) | 2,981,080 |
Custodian fees | 109,124 |
Transfer agent fees (Note 2) | 3,832,633 |
Directors’/Trustees’ fees (Note 5) | 19,536 |
Auditing fees | 12,973 |
Legal fees | 5,326 |
Distribution services fee (Note 5) | 20,971,751 |
Other service fees (Notes 2 and 5) | 9,515,552 |
Portfolio accounting fees | 96,755 |
Share registration costs | 476,942 |
Printing and postage | 303,987 |
Miscellaneous (Note 5) | 25,302 |
TOTAL EXPENSES | 44,752,013 |
Waivers, Reimbursement and Reduction: | |
Waiver of investment adviser fee (Note 5) | (1,919,626) |
Waiver/reimbursement of other operating expenses (Notes 2 and 5) | (3,794,824) |
Reduction of custodian fees (Note 6) | (3,047) |
TOTAL WAIVERS, REIMBURSEMENT AND REDUCTION | (5,717,497) |
Net expenses | 39,034,516 |
Net investment income | 168,300,217 |
Net realized gain on investments | 49,224 |
Change in net assets resulting from operations | $168,349,441 |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $168,300,217 | $269,001,831 |
Net realized gain (loss) | 49,224 | (73,710) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 168,349,441 | 268,928,121 |
Distributions to Shareholders: | ||
Class A Shares | (4,799,168) | (5,254,064) |
Class B Shares1 | — | (4,065) |
Class C Shares | (92,905) | (147,477) |
Class F Shares | (35,347) | (56,047) |
Class P Shares | (163,372,765) | (263,542,725) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (168,300,185) | (269,004,378) |
Share Transactions: | ||
Proceeds from sale of shares | 4,277,325,096 | 5,994,126,633 |
Net asset value of shares issued to shareholders in payment of distributions declared | 82,326,409 | 260,058,260 |
Cost of shares redeemed | (4,818,035,431) | (9,437,116,336) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (458,383,926) | (3,182,931,443) |
Change in net assets | (458,334,670) | (3,183,007,700) |
Net Assets: | ||
Beginning of period | 7,838,899,101 | 11,021,906,801 |
End of period | $7,380,564,431 | $7,838,899,101 |
1 | On February 3, 2023, Class B Shares were converted into Class A Shares. |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Class A Shares | $22,233 | $(18,392) |
Class C Shares | 1,142 | (5) |
Class F Shares | 359 | (330) |
Class P Shares | 3,808,899 | — |
TOTAL | $3,832,633 | $(18,727) |
Other Service Fees Incurred | |
Class A Shares | $263,470 |
Class C Shares | 5,141 |
Class F Shares | 1,940 |
Class P Shares | 9,245,001 |
TOTAL | $9,515,552 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Class A Shares: | Shares | Amount | Shares | Amount |
Shares sold | 103,635,730 | $103,635,730 | 196,207,742 | $196,207,742 |
Shares issued to shareholders in payment of distributions declared | 2,336,702 | 2,336,702 | 5,141,164 | 5,141,164 |
Conversion of Class B to Class A Shares1 | — | — | 350,008 | 350,008 |
Shares redeemed | (72,278,626) | (72,278,626) | (136,887,847) | (136,887,847) |
NET CHANGE RESULTING FROM CLASS A SHARE TRANSACTIONS | 33,693,806 | $33,693,806 | 64,811,067 | $64,811,067 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Class B Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | 48,902 | $48,902 |
Shares issued to shareholders in payment of distributions declared | — | — | 3,342 | 3,342 |
Conversion of Class B to Class A Shares1 | — | — | (350,008) | (350,008) |
Shares redeemed | — | — | (182,655) | (182,655) |
NET CHANGE RESULTING FROM CLASS B SHARE TRANSACTIONS | — | $— | (480,419) | $(480,419) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Class C Shares: | Shares | Amount | Shares | Amount |
Shares sold | 788,002 | $788,002 | 5,415,527 | $5,415,527 |
Shares issued to shareholders in payment of distributions declared | 48,051 | 48,051 | 147,048 | 147,048 |
Shares redeemed | (2,820,823) | (2,820,823) | (5,581,042) | (5,581,042) |
NET CHANGE RESULTING FROM CLASS C SHARE TRANSACTIONS | (1,984,770) | $(1,984,770) | (18,467) | $(18,467) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Class F Shares: | Shares | Amount | Shares | Amount |
Shares sold | 533,918 | $533,918 | 942,849 | $942,849 |
Shares issued to shareholders in payment of distributions declared | 11,570 | 11,570 | 39,271 | 39,271 |
Shares redeemed | (719,950) | (719,950) | (1,159,359) | (1,159,359) |
NET CHANGE RESULTING FROM CLASS F SHARE TRANSACTIONS | (174,462) | $(174,462) | (177,239) | $(177,239) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Class P Shares: | Shares | Amount | Shares | Amount |
Shares sold | 4,172,367,446 | $4,172,367,446 | 5,791,511,613 | $5,791,511,613 |
Shares issued to shareholders in payment of distributions declared | 79,930,086 | 79,930,086 | 254,727,435 | 254,727,435 |
Shares redeemed | (4,742,216,032) | (4,742,216,032) | (9,293,305,433) | (9,293,305,433) |
NET CHANGE RESULTING FROM CLASS P SHARE TRANSACTIONS | (489,918,500) | $(489,918,500) | (3,247,066,385) | $(3,247,066,385) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (458,383,926) | $(458,383,926) | (3,182,931,443) | $(3,182,931,443) |
1 | On February 3, 2023, Class B Shares were converted to Class A Shares. Within the Statement of Changes in Net Assets, the conversion from Class B Shares is within the Cost of shares redeemed and the conversion to Class A Shares is within Proceeds from sale of shares. |
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 |
Percentage of Average Daily Net Assets of Class | |
Class A Shares | 0.45% |
Class C Shares | 0.75% |
Class F Shares | 0.45% |
Class P Shares | 0.55% |
Distribution Services Fees Incurred | Distribution Services Fees Waived | |
Class A Shares | $475,946 | $(52,883) |
Class C Shares | 16,764 | — |
Class F Shares | 3,505 | (389) |
Class P Shares | 20,475,536 | (3,722,825) |
TOTAL | $20,971,751 | $(3,776,097) |
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual: | |||
Class A Shares | $1,000.00 | $1,023.00 | $4.42 |
Class C Shares | $1,000.00 | $1,021.10 | $6.35 |
Class F Shares | $1,000.00 | $1,023.00 | $4.42 |
Class P Shares | $1,000.00 | $1,022.30 | $5.19 |
Hypothetical (assuming a 5% return before expenses): | |||
Class A Shares | $1,000.00 | $1,020.76 | $4.42 |
Class C Shares | $1,000.00 | $1,018.85 | $6.34 |
Class F Shares | $1,000.00 | $1,020.76 | $4.42 |
Class P Shares | $1,000.00 | $1,020.01 | $5.18 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Class A Shares | 0.87% |
Class C Shares | 1.25% |
Class F Shares | 0.87% |
Class P Shares | 1.02% |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 608919528
CUSIP 608919510
CUSIP 608919205
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/imgca5c2f091.gif)
Share Class | 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
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Repurchase Agreements | 56.8% |
U.S. Government Agency Securities | 23.3% |
U.S. Treasury Securities | 16.9% |
Other Assets and Liabilities—Net2 | 3.0% |
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 | 73.3% |
8-30 Days | 6.0% |
31-90 Days | 5.7% |
91-180 Days | 4.3% |
181 Days or more | 7.7% |
Other Assets and Liabilities—Net2 | 3.0% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Principal Amount | Value | ||
GOVERNMENT AGENCIES— 23.3% | |||
$ 118,850,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.350% (SOFR +0.040%), 2/1/2024 | $ 118,850,000 |
557,650,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.355% (SOFR +0.045%), 2/1/2024 | 557,650,000 |
439,675,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.370% (SOFR +0.060%), 2/1/2024 | 439,673,544 |
143,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.385% (SOFR +0.075%), 2/1/2024 | 142,999,312 |
655,150,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.390% (SOFR +0.080%), 2/1/2024 | 655,142,972 |
626,600,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.395% (SOFR +0.085%), 2/1/2024 | 626,598,095 |
962,550,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.400% (SOFR +0.090%), 2/1/2024 | 962,550,000 |
465,600,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.405% (SOFR +0.095%), 2/1/2024 | 465,600,000 |
1,751,250,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.410% (SOFR +0.100%), 2/1/2024 | 1,751,172,428 |
258,700,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.415% (SOFR +0.105%), 2/1/2024 | 258,699,032 |
824,800,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.420% (SOFR +0.110%), 2/1/2024 | 824,800,000 |
446,700,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.430% (SOFR +0.120%), 2/1/2024 | 446,700,000 |
1,049,400,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.440% (SOFR +0.130%), 2/1/2024 | 1,049,396,394 |
124,900,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.445% (SOFR +0.135%), 2/1/2024 | 124,900,000 |
441,875,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.465% (SOFR +0.155%), 2/1/2024 | 441,875,000 |
310,900,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.470% (SOFR +0.160%), 2/1/2024 | 310,900,000 |
663,700,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.475% (SOFR +0.165%), 2/1/2024 | 663,672,411 |
487,900,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.480% (SOFR +0.170%), 2/1/2024 | 487,890,457 |
429,750,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.485% (SOFR +0.175%), 2/1/2024 | 429,750,000 |
284,850,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.510% (SOFR +0.200%), 2/1/2024 | 284,850,000 |
385,800,000 | 2 | Federal Home Loan Bank System Discount Notes, 0.000%, 10/18/2024 - 10/31/2024 | 372,214,546 |
2,799,339,000 | 2 | Federal Home Loan Bank System Discount Notes, 4.600% - 5.320%, 2/2/2024 - 1/22/2025 | 2,748,442,356 |
300,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.310% (SOFR +0.000%), 2/1/2024 | 300,000,000 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES— continued | |||
$ 200,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.340% (SOFR +0.030%), 2/1/2024 | $ 200,000,000 |
594,300,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.360% (SOFR +0.050%), 2/1/2024 | 594,300,000 |
681,700,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.380% (SOFR +0.070%), 2/1/2024 | 681,700,000 |
744,550,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.410% (SOFR +0.100%), 2/1/2024 | 744,550,000 |
130,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.415% (SOFR +0.105%), 2/1/2024 | 130,001,240 |
379,800,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.435% (SOFR +0.125%), 2/1/2024 | 379,800,000 |
404,750,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.465% (SOFR +0.155%), 2/1/2024 | 404,781,335 |
1,228,600,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.470% (SOFR +0.160%), 2/1/2024 | 1,228,600,000 |
355,800,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.510% (SOFR +0.200%), 2/1/2024 | 355,800,000 |
486,750,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.520% (SOFR +0.210%), 2/1/2024 | 486,750,000 |
16,810,650,000 | Federal Home Loan Bank System, 4.980% - 5.710%, 2/16/2024 - 2/14/2025 | 16,810,621,144 | |
507,150,000 | Federal Home Loan Mortgage Corp., 5.410% - 5.420%, 6/14/2024 - 6/17/2024 | 507,150,000 | |
289,891,000 | 1 | Housing and Urban Development Floating Rate Notes, 5.610% (91-day T-Bill +0.350%), 2/1/2024 | 289,891,000 |
TOTAL GOVERNMENT AGENCIES | 37,278,271,266 | ||
U.S. TREASURIES— 16.9% | |||
2 | U.S. Treasury Bills—10.0% | ||
300,000,000 | United States Treasury Bills, 4.570%, 1/23/2025 | 286,404,249 | |
814,705,000 | United States Treasury Bills, 4.975%, 7/18/2024 | 795,790,266 | |
800,000,000 | United States Treasury Bills, 5.015% - 5.020%, 7/25/2024 | 780,486,722 | |
350,000,000 | United States Treasury Bills, 5.030%, 7/11/2024 | 342,126,654 | |
691,000,000 | United States Treasury Bills, 5.045%, 7/5/2024 | 675,990,422 | |
740,000,000 | United States Treasury Bills, 5.135%, 10/31/2024 | 711,184,089 | |
369,000,000 | United States Treasury Bills, 5.220%, 4/23/2024 | 364,612,590 | |
792,000,000 | United States Treasury Bills, 5.225%, 4/18/2024 | 783,148,850 | |
896,500,000 | United States Treasury Bills, 5.250%, 4/16/2024 | 886,694,529 | |
642,000,000 | United States Treasury Bills, 5.260%, 3/26/2024 | 636,934,621 | |
500,000,000 | United States Treasury Bills, 5.270%, 2/20/2024 | 498,609,305 | |
1,499,000,000 | United States Treasury Bills, 5.270%, 2/22/2024 | 1,494,391,824 | |
1,018,000,000 | United States Treasury Bills, 5.275%, 2/13/2024 | 1,016,210,016 | |
1,980,390,000 | United States Treasury Bills, 5.285% - 5.335%, 2/27/2024 | 1,972,787,087 | |
400,000,000 | United States Treasury Bills, 5.285%, 2/8/2024 | 399,588,944 | |
655,000,000 | United States Treasury Bills, 5.285%, 2/15/2024 | 653,653,793 | |
700,000,000 | United States Treasury Bills, 5.285%, 3/5/2024 | 696,608,792 | |
640,000,000 | United States Treasury Bills, 5.285%, 3/12/2024 | 636,241,778 |
Principal Amount | Value | ||
U.S. TREASURIES— continued | |||
2 | U.S. Treasury Bills—10.0% | ||
$ 700,000,000 | United States Treasury Bills, 5.290%, 2/6/2024 | $ 699,485,695 | |
721,000,000 | United States Treasury Bills, 5.320%, 5/2/2024 | 711,304,152 | |
876,000,000 | United States Treasury Bills, 5.325%, 4/25/2024 | 865,115,701 | |
TOTAL | 15,907,370,079 | ||
1 | U.S. Treasury Notes—6.9% | ||
671,000,000 | United States Treasury Floating Rate Notes, 5.204% (91-day T-Bill -0.075%), 2/6/2024 | 670,999,993 | |
1,772,000,000 | United States Treasury Floating Rate Notes, 5.316% (91-day T-Bill +0.037%), 2/6/2024 | 1,771,639,311 | |
2,511,000,000 | United States Treasury Floating Rate Notes, 5.404% (91-day T-Bill +0.125%), 2/6/2024 | 2,509,747,523 | |
1,144,000,000 | United States Treasury Floating Rate Notes, 5.419% (91-day T-Bill +0.140%), 2/6/2024 | 1,143,656,403 | |
1,623,000,000 | United States Treasury Floating Rate Notes, 5.448% (91-day T-Bill +0.169%), 2/6/2024 | 1,623,282,538 | |
1,541,000,000 | United States Treasury Floating Rate Notes, 5.449% (91-day T-Bill +0.170%), 2/6/2024 | 1,539,447,481 | |
1,792,750,000 | United States Treasury Floating Rate Notes, 5.479% (91-day T-Bill +0.200%), 2/6/2024 | 1,793,054,999 | |
TOTAL | 11,051,828,248 | ||
TOTAL U.S. TREASURIES | 26,959,198,327 | ||
REPURCHASE AGREEMENTS— 56.8% | |||
262,000,000 | Interest in $375,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which ABN Amro Bank N.V., Netherlands will repurchase securities provided as collateral for $375,055,417 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 1/16/2062 and the market value of those underlying securities was $383,249,776. | 262,000,000 | |
500,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.30%, dated 1/31/2024 under which HSBC Securities (USA), Inc. will repurchase securities provided as collateral for $1,000,147,222 on 2/1/2024. 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 2/15/2053 and the market value of those underlying securities was $1,020,000,047. | 500,000,000 | |
1,984,531,000 | Interest in $2,500,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Bank of Nova Scotia will repurchase securities provided as collateral for $2,500,369,444 on 2/1/2024. 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 12/1/2053 and the market value of those underlying securities was $2,550,376,843. | 1,984,531,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 502,419,000 | Interest in $1,550,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Mizuho Securities USA, Inc. will repurchase securities provided as collateral for $1,550,229,056 on 2/1/2024. 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 4/16/2062 and the market value of those underlying securities was $1,585,489,519. | $ 502,419,000 | |
222,000,000 | Interest in $240,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $240,035,467 on 2/1/2024. 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 12/20/2053 and the market value of those underlying securities was $244,836,176. | 222,000,000 | |
800,000,000 | Repurchase agreement 5.36%, dated 1/12/2024 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $807,146,667 on 3/12/2024. 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 $818,429,867. | 800,000,000 | |
300,000,000 | Repurchase agreement 5.32%, dated 1/31/2024 under which BMO Capital Markets Corp. will repurchase securities provided as collateral for $300,044,333 on 2/1/2024. 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 1/20/2070 and the market value of those underlying securities was $308,451,739. | 300,000,000 | |
100,000,000 | Interest in $1,250,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Mitsubishi UFJ Securities (USA), Inc. will repurchase securities provided as collateral for $1,250,184,722 on 2/1/2024. 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 10/20/2053 and the market value of those underlying securities was $1,287,690,264. | 100,000,000 | |
704,605,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 11/20/2051 and the market value of those underlying securities was $3,063,264,328. | 704,605,000 | |
250,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which ING Financial Markets LLC will repurchase securities provided as collateral for $250,036,875 on 2/1/2024. 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 10/20/2053 and the market value of those underlying securities was $255,037,613. | 250,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 380,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which BNP Paribas S.A. will repurchase securities provided as collateral for $380,056,050 on 2/1/2024. 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 1/31/2031 and the market value of those underlying securities was $387,657,171. | $ 380,000,000 | |
300,000,000 | Interest in $1,300,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $1,300,192,111 on 2/1/2024. 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 2/15/2032 and the market value of those underlying securities was $1,326,195,987. | 300,000,000 | |
250,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 5/15/2048 and the market value of those underlying securities was $3,060,451,433. | 250,000,000 | |
400,000,000 | Interest in $900,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Barclays Capital, Inc. will repurchase a security provided as collateral for $900,132,750 on 2/1/2024. 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 6/30/2028 and the market value of that underlying security was $918,135,422. | 400,000,000 | |
705,000,000 | Repurchase agreement 5.29%, dated 1/31/2024 under which Barclays Capital, Inc. will repurchase a security provided as collateral for $705,103,596 on 2/1/2024. 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 11/15/2053 and the market value of that underlying security was $719,205,704. | 705,000,000 | |
800,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.34%, dated 12/22/2023 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $1,005,488,333 on 2/1/2024. 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 11/15/2052 and the market value of those underlying securities was $1,025,598,142. | 800,000,000 | |
2,252,117,000 | Interest in $5,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which J.P. Morgan Securities LLC will repurchase securities provided as collateral for $5,000,737,500 on 2/1/2024. 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 10/15/2028 and the market value of those underlying securities was $5,100,000,047. | 2,252,117,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 75,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which HSBC Securities (USA), Inc. will repurchase securities provided as collateral for $75,011,063 on 2/1/2024. 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 8/1/2053 and the market value of those underlying securities was $76,500,000. | $ 75,000,000 | |
3,400,000,000 | Repurchase agreement 5.32%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $3,400,502,444 on 2/1/2024. 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 2/1/2054 and the market value of those underlying securities was $3,500,834,026. | 3,400,000,000 | |
6,000,000,000 | Repurchase agreement 5.32%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $6,000,886,667 on 2/1/2024. 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 7/15/2032 and the market value of those underlying securities was $6,122,049,934. | 6,000,000,000 | |
829,369,000 | Interest in $2,000,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Bank of Montreal will repurchase securities provided as collateral for $2,000,295,556 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 1/20/2073 and the market value of those underlying securities was $2,047,391,893. | 829,369,000 | |
500,000,000 | Interest in $700,000,000 joint repurchase agreement 5.35%, dated 12/14/2023 under which Bank of Montreal will repurchase securities provided as collateral for $705,097,361 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 8/20/2072 and the market value of those underlying securities was $726,250,282. | 500,000,000 | |
374,000,000 | Repurchase agreement 5.33%, dated 1/31/2024 under which Prudential Insurance Co. of America will repurchase securities provided as collateral for $374,055,373 on 2/1/2024. 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 $381,702,200. | 374,000,000 | |
4,200,000,000 | Interest in $5,000,000,000 joint repurchase agreement 5.34%, dated 1/31/2024 under which Royal Bank of Canada, New York Branch will repurchase securities provided as collateral for $5,068,233,333 on 5/2/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 1/1/2061 and the market value of those underlying securities was $5,174,425,108. | 4,200,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,800,000,000 | Interest in $2,300,000,000 joint repurchase agreement 5.35%, dated 12/14/2023 under which BNP Paribas S.A. will repurchase securities provided as collateral for $2,321,191,944 on 2/14/2024. 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 11/25/2058 and the market value of those underlying securities was $2,364,669,567. | $ 1,800,000,000 | |
750,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.36%, dated 12/13/2023 under which BNP Paribas S.A. will repurchase securities provided as collateral for $1,013,548,889 on 3/13/2024. 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 10/20/2063 and the market value of those underlying securities was $1,027,999,801. | 750,000,000 | |
250,000,000 | Repurchase agreement 5.32%, dated 1/31/2024 under which Credit Agricole CIB New York will repurchase a security provided as collateral for $250,036,944 on 2/1/2024. 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 11/15/2032 and the market value of that underlying security was $255,037,776. | 250,000,000 | |
425,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $425,062,688 on 2/1/2024. 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 8/15/2040 and the market value of those underlying securities was $433,564,006. | 425,000,000 | |
475,000,000 | Interest in $950,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $950,140,125 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 11/15/2041 and the market value of those underlying securities was $969,142,956. | 475,000,000 | |
150,000,000 | Interest in $1,150,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,150,169,944 on 2/1/2024. 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 2/16/2064 and the market value of those underlying securities was $1,173,241,613. | 150,000,000 | |
1,000,000,000 | Interest in $1,250,000,000 joint repurchase agreement 5.35%, dated 1/3/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,256,130,208 on 2/5/2024. 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 10/20/2053 and the market value of those underlying securities was $1,280,494,976. | 1,000,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,847,183,000 | Interest in $1,906,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Bank of America, N.A. will repurchase a security provided as collateral for $1,906,281,664 on 2/1/2024. 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 5/1/2049 and the market value of that underlying security was $1,944,407,298. | $ 1,847,183,000 | |
300,000,000 | Repurchase agreement 5.33%, dated 12/20/2023 under which CIBC World Markets Corp. will repurchase securities provided as collateral for $301,865,500 on 2/1/2024. 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 9/1/2053 and the market value of those underlying securities was $307,916,034. | 300,000,000 | |
1,000,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.33%, dated 1/31/2024 under which Barclays Bank PLC will repurchase securities provided as collateral for $2,008,587,222 on 3/1/2024. 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 $2,048,758,984. | 1,000,000,000 | |
480,000,000 | Repurchase agreement 5.32%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $480,070,933 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 11/1/2033 and the market value of those underlying securities was $518,930,421. | 480,000,000 | |
750,000,000 | Repurchase agreement 5.35%, dated 1/29/2024 under which Wells Fargo Securities LLC will repurchase securities provided as collateral for $756,576,042 on 3/28/2024. 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 7/1/2056 and the market value of those underlying securities was $765,341,063. | 750,000,000 | |
800,000,000 | Repurchase agreement 5.34%, dated 1/16/2024 under which Wells Fargo Securities LLC will repurchase a security provided as collateral for $803,560,000 on 2/15/2024. 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 2/1/2057 and the market value of that underlying security was $817,936,640. | 800,000,000 | |
405,000,000 | Repurchase agreement 5.43%, dated 11/30/2023 under which Wells Fargo Securities LLC will repurchase a security provided as collateral for $410,436,788 on 2/27/2024. 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 2/1/2054 and the market value of that underlying security was $417,025,483. | 405,000,000 | |
400,000,000 | Repurchase agreement 5.43%, dated 12/6/2023 under which Wells Fargo Securities LLC will repurchase a security provided as collateral for $405,369,667 on 3/4/2024. 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 11/25/2050 and the market value of that underlying security was $415,542,170. | 400,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 800,000,000 | Repurchase agreement 5.43%, dated 12/14/2023 under which Wells Fargo Securities LLC will repurchase a security provided as collateral for $810,860,000 on 3/13/2024. 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 5/1/2056 and the market value of that underlying security was $822,030,920. | $ 800,000,000 | |
400,000,000 | Interest in $500,000,000 joint repurchase agreement 5.35%, dated 12/14/2023 under which BMO Capital Markets Corp. will repurchase securities provided as collateral for $503,640,972 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency and U.S. Treasury securities with various maturities to 6/16/2065 and the market value of those underlying securities was $518,119,114. | 400,000,000 | |
875,000,000 | Interest in $1,450,000,000 joint repurchase agreement 5.30%, dated 1/31/2024 under which TD Securities (USA), LLC will repurchase securities provided as collateral for $1,450,213,472 on 2/1/2024. 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 9/1/2060 and the market value of those underlying securities was $1,485,496,930. | 875,000,000 | |
2,400,000,000 | Interest in $2,850,000,000 joint repurchase agreement 5.35%, dated 1/9/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $2,862,706,250 on 2/8/2024. 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 3/20/2053 and the market value of those underlying securities was $2,916,936,370. | 2,400,000,000 | |
1,400,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which HSBC Securities (USA), Inc. will repurchase securities provided as collateral for $2,000,295,000 on 2/1/2024. 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 1/1/2054 and the market value of those underlying securities was $2,040,000,000. | 1,400,000,000 | |
800,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.37%, dated 1/17/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,013,425,000 on 4/16/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency and U.S. Treasury securities with various maturities to 5/20/2052 and the market value of those underlying securities was $1,022,279,785. | 800,000,000 | |
1,600,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.37%, dated 12/14/2023 under which Royal Bank of Canada, New York Branch will repurchase securities provided as collateral for $2,029,236,667 on 3/21/2024. 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 7/1/2060 and the market value of those underlying securities was $2,070,520,861. | 1,600,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 375,000,000 | Interest in $47,50,00,000 joint repurchase agreement 5.40%, dated 1/31/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $479,346,250 on 4/1/2024. 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 9/1/2053 and the market value of those underlying securities was $485,240,772. | $ 375,000,000 | |
3,000,000,000 | Repurchase agreement 5.32%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $3,000,443,333 on 2/1/2024. 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 9/1/2057 and the market value of those underlying securities was $3,081,891,620. | 3,000,000,000 | |
130,000,000 | Repurchase agreement 5.32%, dated 1/31/2024 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $130,019,211 on 2/1/2024. 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 $132,634,672. | 130,000,000 | |
400,000,000 | Interest in $500,000,000 joint repurchase agreement 5.34%, dated 1/19/2024 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $502,299,167 on 2/22/2024. 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 9/20/2073 and the market value of those underlying securities was $510,756,501. | 400,000,000 | |
375,000,000 | Interest in $475,000,000 joint repurchase agreement 5.41%, dated 1/31/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $481,352,993 on 4/29/2024. 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 9/1/2053 and the market value of those underlying securities was $484,575,051. | 375,000,000 | |
2,950,000,000 | Interest in $3,500,000,000 joint repurchase agreement 5.39%, dated 9/27/2023 under which Royal Bank of Canada, New York Branch will repurchase securities provided as collateral for $3,579,652,222 on 2/26/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 1/20/2054 and the market value of those underlying securities was $3,654,340,371. | 2,950,000,000 | |
9,500,000,000 | Repurchase agreement 5.30%, dated 1/31/2024 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $9,501,398,611 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 8/15/2043 and the market value of those underlying securities was $9,501,398,624. | 9,500,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 1,700,000,000 | Interest in $2,150,000,000 joint repurchase agreement 5.35%, dated 1/29/2024 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $2,166,614,722 on 3/21/2024. 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 12/20/2063 and the market value of those underlying securities was $2,193,977,713. | $ 1,700,000,000 | |
1,600,000,000 | Interest in $1,900,000,000 joint repurchase agreement 5.35%, dated 1/30/2024 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $1,914,400,417 on 3/21/2024. 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 4/20/2063 and the market value of those underlying securities was $1,938,576,017. | 1,600,000,000 | |
5,000,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $5,000,737,500 on 2/1/2024. 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 4/30/2028 and the market value of those underlying securities was $5,100,000,067. | 5,000,000,000 | |
1,000,000,000 | Repurchase agreement 5.32%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,000,147,778 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 11/20/2063 and the market value of those underlying securities was $1,020,000,000. | 1,000,000,000 | |
3,500,000,000 | Interest in $5,000,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Morgan Stanley & Co. LLC will repurchase securities provided as collateral for $5,000,738,889 on 2/1/2024. 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 7/1/2061 and the market value of those underlying securities was $5,100,000,000. | 3,500,000,000 | |
3,500,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $3,500,516,250 on 2/1/2024. 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 $3,570,000,044. | 3,500,000,000 | |
200,000,000 | Repurchase agreement 5.32%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $200,029,556 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 1/20/2052 and the market value of those underlying securities was $206,000,000. | 200,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 625,000,000 | Interest in $2,750,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $2,750,405,625 on 2/1/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 8/15/2053 and the market value of those underlying securities was $2,805,413,753. | $ 625,000,000 | |
680,000,000 | Interest in $750,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Standard Chartered Bank will repurchase securities provided as collateral for $750,110,833 on 2/1/2024. 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 4/1/2053 and the market value of those underlying securities was $765,317,439. | 680,000,000 | |
2,500,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $2,500,368,750 on 2/1/2024. 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 $2,550,376,127. | 2,500,000,000 | |
2,500,000,000 | Repurchase agreement 5.32%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $2,500,369,444 on 2/1/2024. 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 1/31/2031 and the market value of those underlying securities was $2,566,086,585. | 2,500,000,000 | |
1,500,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,500,221,250 on 2/1/2024. 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 11/15/2040 and the market value of those underlying securities was $1,531,199,302. | 1,500,000,000 | |
450,000,937 | Repurchase agreement 5.31%, dated 1/31/2024 under which Metropolitan Life Insurance Co. will repurchase securities provided as collateral for $450,067,312 on 2/1/2024. 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 10/15/2026 and the market value of those underlying securities was $459,247,486. | 450,000,937 | |
2,000,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $2,000,295,000 on 2/1/2024. 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 2/15/2052 and the market value of those underlying securities was $2,041,276,343. | 2,000,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 2,200,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Australia & New Zealand Banking Group, Melbourne will repurchase securities provided as collateral for $2,200,324,500 on 2/1/2024. 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 2/15/2053 and the market value of those underlying securities was $2,244,876,035. | $ 2,200,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 90,883,224,937 | ||
TOTAL INVESTMENT IN SECURITIES—97.0% (AT AMORTIZED COST)3 | 155,120,694,530 | ||
OTHER ASSETS AND LIABILITIES - NET—3.0%4 | 4,789,673,508 | ||
TOTAL NET ASSETS—100% | $159,910,368,038 |
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 |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income2 | 0.026 | 0.026 | 0.003 | 0.0003 | 0.012 | 0.012 |
Net realized gain (loss) | 0.0003 | 0.014 | (0.000)3 | 0.0003 | (0.001) | (0.000)3 |
Total From Investment Operations | 0.026 | 0.040 | 0.003 | 0.0003 | 0.011 | 0.012 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.040) | (0.003) | (0.000)3 | (0.011) | (0.012) |
Distributions from net realized gain | — | — | — | — | (0.000)3 | — |
Total Distributions | (0.026) | (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 | $1.00 |
Total Return4 | 2.67% | 4.03% | 0.31% | 0.02% | 1.12% | 1.23% |
Ratios to Average Net Assets: | ||||||
Net expenses5 | 0.16%6 | 0.17% | 0.09% | 0.11% | 0.17% | 1.15% |
Net investment income | 5.26%6 | 2.56% | 0.25% | 0.02% | 0.74% | 1.21% |
Expense waiver/reimbursement7 | 0.09%6 | 0.13% | 0.22% | 0.20% | 0.14% | 0.13% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $577,723 | $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. 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.026 | 0.039 | 0.003 | 0.0002 | 0.011 | 0.021 |
Net realized gain (loss) | 0.0002 | 0.0002 | (0.000)2 | — | (0.000)2 | (0.000)2 |
Total From Investment Operations | 0.026 | 0.039 | 0.003 | 0.0002 | 0.011 | 0.021 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.039) | (0.003) | (0.000)2 | (0.011) | (0.021) |
Distributions from net realized gain | — | — | — | — | (0.000)2 | — |
Total Distributions | (0.026) | (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 | $1.00 |
Total Return3 | 2.65% | 3.99% | 0.30% | 0.02% | 1.09% | 2.17% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.20%5 | 0.20% | 0.10% | 0.10% | 0.19% | 0.19% |
Net investment income | 5.22%5 | 3.92% | 0.28% | 0.02% | 0.97% | 2.15% |
Expense waiver/ reimbursement6 | 0.10%5 | 0.13% | 0.23% | 0.23% | 0.15% | 0.14% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $29,739,293 | $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. 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.025 | 0.037 | 0.002 | 0.0002 | 0.009 | 0.019 |
Net realized gain (loss) | 0.0002 | (0.000)2 | (0.000)2 | — | 0.0002 | (0.000)2 |
Total From Investment Operations | 0.025 | 0.037 | 0.002 | 0.0002 | 0.009 | 0.019 |
Less Distributions: | ||||||
Distributions from net investment income | (0.025) | (0.037) | (0.002) | (0.000)2 | (0.009) | (0.019) |
Distributions from net realized gain | — | — | — | — | (0.000)2 | — |
Total Distributions | (0.025) | (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 | $1.00 |
Total Return3 | 2.54% | 3.76% | 0.22% | 0.02% | 0.91% | 1.94% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.42%5 | 0.42% | 0.17% | 0.11% | 0.38% | 0.42% |
Net investment income | 5.00%5 | 3.73% | 0.19% | 0.01% | 0.83% | 1.93% |
Expense waiver/ reimbursement6 | 0.10%5 | 0.13% | 0.38% | 0.43% | 0.17% | 0.13% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $10,482,315 | $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. 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.025 | 0.044 | 0.046 | 0.024 | 0.009 | 0.019 |
Net realized gain (loss) | 0.0002 | (0.007) | (0.044) | (0.024) | (0.000)2 | (0.000)2 |
Total From Investment Operations | 0.025 | 0.037 | 0.002 | 0.0002 | 0.009 | 0.019 |
Less Distributions: | ||||||
Distributions from net investment income | (0.025) | (0.037) | (0.002) | (0.000)2 | (0.009) | (0.019) |
Distributions from net realized gain | — | — | — | — | (0.000)2 | — |
Total Distributions | (0.025) | (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 | $1.00 |
Total Return3 | 2.52% | 3.73% | 0.22% | 0.02% | 0.88% | 1.90% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.45%5 | 0.45% | 0.14% | 0.19% | 0.41% | 0.45% |
Net investment income | 4.97%5 | 4.43% | 0.14% | 0.01% | 0.89% | 1.97% |
Expense waiver/reimbursement6 | 0.09%5 | 0.13% | 0.43% | 0.39% | 0.18% | 0.13% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $16,548 | $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. 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.023 | 0.033 | 0.001 | 0.0002 | 0.006 | 0.015 |
Net realized gain (loss) | 0.0002 | (0.000)2 | (0.000)2 | — | 0.0002 | (0.000)2 |
Total From Investment Operations | 0.023 | 0.033 | 0.001 | 0.0002 | 0.006 | 0.015 |
Less Distributions: | ||||||
Distributions from net investment income | (0.023) | (0.033) | (0.001) | (0.000)2 | (0.006) | (0.015) |
Distributions from net realized gain | — | — | — | — | (0.000)2 | — |
Total Distributions | (0.023) | (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 | $1.00 |
Total Return3 | 2.32% | 3.33% | 0.12% | 0.02% | 0.63% | 1.51% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.85%5 | 0.84% | 0.27% | 0.11% | 0.64% | 0.84% |
Net investment income | 4.57%5 | 3.32% | 0.11% | 0.01% | 0.61% | 1.51% |
Expense waiver/reimbursement6 | 0.10%5 | 0.13% | 0.70% | 0.86% | 0.34% | 0.13% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $635,524 | $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. 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.022 | 0.034 | 0.001 | 0.0002 | 0.005 | 0.013 |
Net realized gain (loss) | 0.0002 | (0.003) | (0.000)2 | — | 0.0002 | (0.000)2 |
Total From Investment Operations | 0.022 | 0.031 | 0.001 | 0.0002 | 0.005 | 0.013 |
Less Distributions: | ||||||
Distributions from net investment income | (0.022) | (0.031) | (0.001) | (0.000)2 | (0.005) | (0.013) |
Distributions from net realized gain | — | — | — | — | (0.000)2 | — |
Total Distributions | (0.022) | (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 | $1.00 |
Total Return3 | 2.25% | 3.18% | 0.10% | 0.02% | 0.54% | 1.35% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.98%5 | 0.98% | 0.26% | 0.11% | 0.71% | 1.00% |
Net investment income | 4.44%5 | 3.38% | 0.08% | 0.01% | 0.48% | 1.35% |
Expense waiver/reimbursement6 | 0.15%5 | 0.18% | 0.93% | 1.07% | 0.47% | 0.18% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $656,363 | $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. 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.026 | 0.038 | 0.003 | 0.0002 | 0.010 | 0.020 |
Net realized gain (loss) | 0.0002 | 0.0002 | (0.000)2 | — | (0.000)2 | (0.000)2 |
Total From Investment Operations | 0.026 | 0.038 | 0.003 | 0.0002 | 0.010 | 0.020 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.038) | (0.003) | (0.000)2 | (0.010) | (0.020) |
Distributions from net realized gain | — | — | — | — | (0.000)2 | — |
Total Distributions | (0.026) | (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 | $1.00 |
Total Return3 | 2.60% | 3.89% | 0.26% | 0.02% | 0.99% | 2.05% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.30%5 | 0.30% | 0.14% | 0.12% | 0.30% | 0.30% |
Net investment income | 5.11%5 | 3.81% | 0.24% | 0.01% | 0.94% | 2.04% |
Expense waiver/reimbursement6 | 0.09%5 | 0.13% | 0.30% | 0.32% | 0.14% | 0.13% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $4,075,094 | $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. 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.024 | 0.035 | 0.002 | 0.0002 | 0.007 | 0.017 |
Net realized gain (loss) | 0.0002 | (0.001) | (0.000)2 | — | (0.000)2 | (0.000)2 |
Total From Investment Operations | 0.024 | 0.034 | 0.002 | 0.0002 | 0.007 | 0.017 |
Less Distributions: | ||||||
Distributions from net investment income | (0.024) | (0.034) | (0.002) | (0.000)2 | (0.007) | (0.017) |
Distributions from net realized gain | — | — | — | — | (0.000)2 | — |
Total Distributions | (0.024) | (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 | $1.00 |
Total Return3 | 2.40% | 3.50% | 0.16% | 0.02% | 0.73% | 1.67% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.68%5 | 0.68% | 0.24% | 0.12% | 0.54% | 0.69% |
Net investment income | 4.73%5 | 3.52% | 0.13% | 0.01% | 0.66% | 1.71% |
Expense waiver/reimbursement6 | 0.10%5 | 0.13% | 0.59% | 0.71% | 0.29% | 0.13% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $1,536,036 | $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. 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.027 | 0.040 | 0.003 | 0.0002 | 0.011 | 0.022 |
Net realized gain (loss) | (0.001) | (0.000)2 | (0.000)2 | — | 0.0002 | (0.000)2 |
Total From Investment Operations | 0.026 | 0.040 | 0.003 | 0.0002 | 0.011 | 0.022 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.040) | (0.003) | (0.000)2 | (0.011) | (0.022) |
Distributions from net realized gain | — | — | — | — | (0.000)2 | — |
Total Distributions | (0.026) | (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 | $1.00 |
Total Return3 | 2.68% | 4.04% | 0.31% | 0.03% | 1.14% | 2.21% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.15%5 | 0.15% | 0.09% | 0.10% | 0.15% | 0.15% |
Net investment income | 5.26%5 | 3.99% | 0.33% | 0.02% | 0.96% | 2.20% |
Expense waiver/ reimbursement6 | 0.10%5 | 0.13% | 0.20% | 0.18% | 0.14% | 0.13% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $101,733,271 | $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. 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income2 | 0.027 | 0.043 | 0.003 | 0.0003 | 0.011 | 0.012 |
Net realized gain (loss) | (0.001) | (0.003) | (0.000)3 | — | 0.0003 | (0.000)3 |
Total From Investment Operations | 0.026 | 0.040 | 0.003 | 0.0003 | 0.011 | 0.012 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.040) | (0.003) | (0.000)3 | (0.011) | (0.012) |
Distributions from net realized gains | — | — | — | — | (0.000)3 | — |
Total Distributions | (0.026) | (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 | $1.00 |
Total Return4 | 2.68% | 4.04% | 0.31% | 0.03% | 1.14% | 1.24% |
Ratios to Average Net Assets: | ||||||
Net expenses5 | 0.15%6 | 0.15% | 0.10% | 0.11% | 0.15% | 0.15%6 |
Net investment income | 5.26%6 | 4.30% | 0.54% | 0.03% | 0.81% | 2.29%6 |
Expense waiver/reimbursement7 | 0.10%6 | 0.13% | 0.18% | 0.17% | 0.14% | 0.13%6 |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $8,717,836 | $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. |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | Period Ended 7/31/20221 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 |
Income From Investment Operations: | |||
Net investment income2 | 0.027 | 0.041 | 0.003 |
Net realized gain (loss) | (0.001) | (0.001) | (0.000)3 |
Total From Investment Operations | 0.026 | 0.040 | 0.003 |
Less Distributions: | |||
Distributions from net investment income | (0.026) | (0.040) | (0.003) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 |
Total Return4 | 2.68% | 4.04% | 0.29% |
Ratios to Average Net Assets: | |||
Net expenses5 | 0.15%6 | 0.15% | 0.14%6 |
Net investment income | 5.26%6 | 4.07% | 0.92%6 |
Expense waiver/reimbursement7 | 0.10%6 | 0.13% | 0.15%6 |
Supplemental Data: | |||
Net assets, end of period (000 omitted) | $1,740,366 | $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. |
Assets: | |
Investment in repurchase agreements | $90,883,224,937 |
Investment in securities | 64,237,469,593 |
Investment in securities, at amortized cost | 155,120,694,530 |
Cash | 5,762,614,210 |
Income receivable | 505,185,718 |
Receivable for shares sold | 249,930,552 |
Total Assets | 161,638,425,010 |
Liabilities: | |
Payable for investments purchased | 1,000,000,000 |
Payable for shares redeemed | 348,500,536 |
Income distribution payable | 370,848,406 |
Payable for investment adviser fee (Note 5) | 307,104 |
Payable for administrative fee (Note 5) | 339,018 |
Payable for Directors’/Trustees’ fees (Note 5) | 125,507 |
Payable for distribution services fee (Note 5) | 783,033 |
Payable for other service fees (Notes 2 and 5) | 4,772,734 |
Accrued expenses (Note 5) | 2,380,634 |
Total Liabilities | 1,728,056,972 |
Net assets for 159,961,782,242 shares outstanding | $159,910,368,038 |
Net Assets Consist of: | |
Paid-in capital | $159,961,959,852 |
Total distributable earnings (loss) | (51,591,814) |
Total Net Assets | $159,910,368,038 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Select Shares: | |
$577,723,034 ÷ 577,909,168 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Institutional Shares: | |
$29,739,293,009 ÷ 29,748,868,560 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$10,482,314,989 ÷ 10,485,685,554 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Administrative Shares: | |
$16,548,411 ÷ 16,553,718 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$635,523,612 ÷ 635,727,443 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$656,362,980 ÷ 656,573,557 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$4,075,093,517 ÷ 4,076,399,296 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$1,536,035,951 ÷ 1,536,528,968 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Premier Shares: | |
$101,733,270,997 ÷ 101,765,966,321 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$8,717,835,956 ÷ 8,720,645,228 shares outstanding, no par value, unlimited shares authorized | $1.00 |
SDG Shares: | |
$1,740,365,582 ÷ 1,740,924,429 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $4,109,108,995 |
Expenses: | |
Investment adviser fee (Note 5) | 126,190,207 |
Administrative fee (Note 5) | 58,986,781 |
Custodian fees | 2,077,231 |
Transfer agent fees (Note 2) | 1,991,986 |
Directors’/Trustees’ fees (Note 5) | 354,925 |
Auditing fees | 13,697 |
Legal fees | 5,282 |
Portfolio accounting fees | 143,671 |
Distribution services fee (Note 5) | 4,814,305 |
Other service fees (Notes 2 and 5) | 26,455,066 |
Share registration costs | 697,017 |
Printing and postage | 531,379 |
Miscellaneous (Note 5) | 333,934 |
TOTAL EXPENSES | 222,595,481 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (72,401,563) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (174,760) |
TOTAL WAIVERS AND REIMBURSEMENTS | (72,576,323) |
Net expenses | 150,019,158 |
Net investment income | 3,959,089,837 |
Net realized gain on investments | 109,759 |
Change in net assets resulting from operations | $3,959,199,596 |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $3,959,089,837 | $5,576,461,241 |
Net realized gain (loss) | 109,759 | (1,284,750) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 3,959,199,596 | 5,575,176,491 |
Distributions to Shareholders: | ||
Select Shares | (9,395,627) | (35,271,850) |
Institutional Shares | (729,235,907) | (1,174,046,622) |
Service Shares | (270,504,636) | (389,623,516) |
Administrative Shares | (361,290) | (161,294) |
Cash II Shares | (14,325,362) | (19,617,039) |
Cash Series Shares | (15,381,337) | (21,988,107) |
Capital Shares | (98,866,162) | (136,929,964) |
Trust Shares | (30,978,357) | (50,205,859) |
Premier Shares | (2,515,016,801) | (3,450,670,665) |
Advisor Shares | (237,439,026) | (257,752,222) |
SDG Shares | (37,696,009) | (40,021,310) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (3,959,200,514) | (5,576,288,448) |
Share Transactions: | ||
Proceeds from sale of shares | 438,759,330,627 | 883,504,550,198 |
Net asset value of shares issued to shareholders in payment of distributions declared | 1,827,050,077 | 2,496,154,457 |
Cost of shares redeemed | (425,616,742,642) | (879,522,640,205) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 14,969,638,062 | 6,478,064,450 |
Change in net assets | 14,969,637,144 | 6,476,952,493 |
Net Assets: | ||
Beginning of period | 144,940,730,894 | 138,463,778,401 |
End of period | $159,910,368,038 | $144,940,730,894 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Select Shares | $1,254 | $— |
Institutional Shares | 98,857 | — |
Service Shares | 916,404 | — |
Administrative Shares | 64 | (13) |
Cash II Shares | 297,255 | — |
Cash Series Shares | 91,503 | — |
Capital Shares | 13,645 | — |
Trust Shares | 197,120 | — |
Premier Shares | 338,136 | (746) |
Advisor Shares | 32,665 | (789) |
SDG Shares | 5,083 | — |
TOTAL | $1,991,986 | $(1,548) |
Other Service Fees Incurred | |
Select Shares | $18,045 |
Institutional Shares | 6,705,694 |
Service Shares | 13,529,654 |
Administrative Shares | 18,177 |
Cash II Shares | 783,494 |
Cash Series Shares | 866,058 |
Capital Shares | 2,898,703 |
Trust Shares | 1,635,241 |
TOTAL | $26,455,066 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Select Shares: | Shares | Amount | Shares | Amount |
Shares sold | 954,211,538 | $954,211,538 | 2,168,449,564 | $2,168,449,564 |
Shares issued to shareholders in payment of distributions declared | 4,354,933 | 4,354,933 | 3,995,559 | 3,995,559 |
Shares redeemed | (561,878,815) | (561,878,815) | (7,914,714,488) | (7,914,714,488) |
NET CHANGE RESULTING FROM SELECT SHARE TRANSACTIONS | 396,687,656 | $396,687,656 | (5,742,269,365) | $(5,742,269,365) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 68,367,335,501 | $68,367,335,501 | 186,148,262,717 | $186,148,262,717 |
Shares issued to shareholders in payment of distributions declared | 289,610,165 | 289,610,165 | 420,918,743 | 420,918,743 |
Shares redeemed | (67,870,428,371) | (67,870,428,371) | (188,845,973,947) | (188,845,973,947) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 786,517,295 | $786,517,295 | (2,276,792,487) | $(2,276,792,487) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 15,851,851,929 | $15,851,851,929 | 27,836,489,730 | $27,836,489,730 |
Shares issued to shareholders in payment of distributions declared | 108,006,407 | 108,006,407 | 169,368,568 | 169,368,568 |
Shares redeemed | (15,728,291,721) | (15,728,291,721) | (27,838,325,461) | (27,838,325,461) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 231,566,615 | $231,566,615 | 167,532,837 | $167,532,837 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Administrative Shares: | Shares | Amount | Shares | Amount |
Shares sold | 16,586,678 | $16,586,678 | 15,341,826 | $15,341,826 |
Shares issued to shareholders in payment of distributions declared | 208,408 | 208,408 | 68,641 | 68,641 |
Shares redeemed | (9,706,241) | (9,706,241) | (6,023,799) | (6,023,799) |
NET CHANGE RESULTING FROM ADMINISTRATIVE SHARE TRANSACTIONS | 7,088,845 | $7,088,845 | 9,386,668 | $9,386,668 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 308,140,609 | $308,140,609 | 464,220,612 | $464,220,612 |
Shares issued to shareholders in payment of distributions declared | 14,044,611 | 14,044,611 | 19,293,153 | 19,293,153 |
Shares redeemed | (328,386,747) | (328,386,747) | (409,467,416) | (409,467,416) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | (6,201,527) | $(6,201,527) | 74,046,349 | $74,046,349 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,083,350,230 | $2,083,350,230 | 4,365,518,975 | $4,365,518,975 |
Shares issued to shareholders in payment of distributions declared | 14,779,530 | 14,779,530 | 21,787,443 | 21,787,443 |
Shares redeemed | (2,344,631,241) | (2,344,631,241) | (3,792,238,227) | (3,792,238,227) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | (246,501,481) | $(246,501,481) | 595,068,191 | $595,068,191 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 7,918,018,347 | $7,918,018,347 | 22,112,699,472 | $22,112,699,472 |
Shares issued to shareholders in payment of distributions declared | 76,050,735 | 76,050,735 | 103,746,094 | 103,746,094 |
Shares redeemed | (7,448,103,255) | (7,448,103,255) | (21,781,934,740) | (21,781,934,740) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 545,965,827 | $545,965,827 | 434,510,826 | $434,510,826 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,222,418,364 | $2,222,418,364 | 5,541,475,630 | $5,541,475,630 |
Shares issued to shareholders in payment of distributions declared | 23,103,161 | 23,103,161 | 30,288,301 | 30,288,301 |
Shares redeemed | (2,040,647,238) | (2,040,647,238) | (5,516,600,396) | (5,516,600,396) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | 204,874,287 | $204,874,287 | 55,163,535 | $55,163,535 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Premier Shares: | Shares | Amount | Shares | Amount |
Shares sold | 311,309,127,591 | $311,309,127,591 | 579,652,518,806 | $579,652,518,806 |
Shares issued to shareholders in payment of distributions declared | 1,058,568,669 | 1,058,568,669 | 1,475,168,922 | 1,475,168,922 |
Shares redeemed | (299,351,904,305) | (299,351,904,305) | (575,954,063,278) | (575,954,063,278) |
NET CHANGE RESULTING FROM PREMIER SHARE TRANSACTIONS | 13,015,791,955 | $13,015,791,955 | 5,173,624,450 | $5,173,624,450 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Advisor Shares: | Shares | Amount | Shares | Amount |
Shares sold | 10,722,541,686 | $10,722,541,686 | 18,594,511,674 | $18,594,511,674 |
Shares issued to shareholders in payment of distributions declared | 207,521,845 | 207,521,845 | 224,560,850 | 224,560,850 |
Shares redeemed | (10,854,782,933) | (10,854,782,933) | (12,117,071,313) | (12,117,071,313) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | 75,280,598 | $75,280,598 | 6,702,001,211 | $6,702,001,211 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
SDG Shares: | Shares | Amount | Shares | Amount |
Shares sold | 19,005,748,154 | $19,005,748,154 | 36,605,061,192 | $36,605,061,192 |
Shares issued to shareholders in payment of distributions declared | 30,801,613 | 30,801,613 | 26,958,183 | 26,958,183 |
Shares redeemed | (19,077,981,775) | (19,077,981,775) | (35,346,227,140) | (35,346,227,140) |
NET CHANGE RESULTING FROM SDG SHARE TRANSACTIONS | (41,432,008) | $(41,432,008) | 1,285,792,235 | $1,285,792,235 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 14,969,638,062 | $14,969,638,062 | 6,478,064,450 | $6,478,064,450 |
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 | $3,635 | $— |
Cash II Shares | 1,096,891 | — |
Cash Series Shares | 2,078,538 | (173,212) |
Trust Shares | 1,635,241 | — |
TOTAL | $4,814,305 | $(173,212) |
7. Interfund Lending
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual: | |||
Select Shares | $1,000 | $1,026.70 | $0.82 |
Institutional Shares | $1,000 | $1,026.50 | $1.02 |
Service Shares | $1,000 | $1,025.40 | $2.14 |
Administrative Shares | $1,000 | $1,025.20 | $2.29 |
Cash II Shares | $1,000 | $1,023.20 | $4.32 |
Cash Series Shares | $1,000 | $1,022.50 | $4.98 |
Capital Shares | $1,000 | $1,026.00 | $1.53 |
Trust Shares | $1,000 | $1,024.00 | $3.46 |
Premier Shares | $1,000 | $1,026.80 | $0.76 |
Advisor Shares | $1,000 | $1,026.80 | $0.76 |
SDG Shares | $1,000 | $1,026.80 | $0.76 |
Hypothetical (assuming a 5% return before expenses): | |||
Select Shares | $1,000 | $1,024.33 | $0.81 |
Institutional Shares | $1,000 | $1,024.13 | $1.02 |
Service Shares | $1,000 | $1,023.03 | $2.14 |
Administrative Shares | $1,000 | $1,022.87 | $2.29 |
Cash II Shares | $1,000 | $1,020.86 | $4.32 |
Cash Series Shares | $1,000 | $1,020.21 | $4.98 |
Capital Shares | $1,000 | $1,023.63 | $1.53 |
Trust Shares | $1,000 | $1,021.72 | $3.46 |
Premier Shares | $1,000 | $1,024.38 | $0.76 |
Advisor Shares | $1,000 | $1,024.38 | $0.76 |
SDG Shares | $1,000 | $1,024.38 | $0.76 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Select Shares | 0.16% |
Institutional Shares | 0.20% |
Service Shares | 0.42% |
Administrative Shares | 0.45% |
Cash II Shares | 0.85% |
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% |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/fhilogok11p.jpg)
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
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/imgf4507ce61.gif)
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
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
U.S. Treasury Securities | 79.1% |
U.S. Government Agency Securities | 23.5% |
Other Assets and Liabilities—Net2 | (2.6%) |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 31.6% |
8-30 Days | 30.0% |
31-90 Days | 28.8% |
91-180 Days | 8.8% |
181 Days or more | 3.4% |
Other Assets and Liabilities—Net2 | (2.6%) |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
3 | 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. |
Principal Amount | Value | ||
U.S. TREASURY— 79.1% | |||
$ 25,000,000 | United States Treasury Bill, 5.045%, 7/5/2024 | $ 24,456,962 | |
30,000,000 | United States Treasury Bill, 5.135%, 10/31/2024 | 28,831,787 | |
125,000,000 | United States Treasury Bill, 5.150%, 6/4/2024 | 122,872,049 | |
25,000,000 | United States Treasury Bill, 5.175%, 5/28/2024 | 24,579,531 | |
121,730,000 | United States Treasury Bill, 5.185%, 5/21/2024 | 119,801,424 | |
94,720,000 | United States Treasury Bill, 5.200%, 5/7/2024 | 93,406,549 | |
53,275,000 | United States Treasury Bill, 5.210%, 4/30/2024 | 52,588,803 | |
150,000,000 | United States Treasury Bill, 5.225%, 4/18/2024 | 148,323,646 | |
91,000,000 | United States Treasury Bill, 5.230%, 3/14/2024 | 90,444,695 | |
50,000,000 | United States Treasury Bill, 5.240%, 4/9/2024 | 49,505,111 | |
250,000,000 | United States Treasury Bill, 5.245%, 4/4/2024 | 247,705,313 | |
20,000,000 | United States Treasury Bill, 5.250%, 4/16/2024 | 19,781,250 | |
50,000,000 | United States Treasury Bill, 5.275%, 2/22/2024 | 49,846,146 | |
300,000,000 | United States Treasury Bill, 5.275%, 3/19/2024 | 297,933,957 | |
97,930,000 | United States Treasury Bill, 5.275%, 3/26/2024 | 97,155,129 | |
125,000,000 | United States Treasury Bill, 5.280%, 3/7/2024 | 124,358,333 | |
100,000,000 | United States Treasury Bill, 5.290%, 2/15/2024 | 99,794,278 | |
14,700,000 | United States Treasury Bill, 5.320%, 5/2/2024 | 14,502,318 | |
25,500,000 | United States Treasury Bill, 5.325%, 4/25/2024 | 25,183,163 | |
100,000,000 | United States Treasury Bills, 4.975% - 4.985%, 7/18/2024 | 97,676,000 | |
410,000,000 | United States Treasury Bills, 5.250% - 5.275%, 3/12/2024 | 407,597,221 | |
853,000,000 | United States Treasury Bills, 5.250% - 5.290%, 2/6/2024 | 852,375,290 | |
437,000,000 | United States Treasury Bills, 5.250% - 5.355%, 2/13/2024 | 436,229,541 | |
656,000,000 | United States Treasury Bills, 5.260% - 5.335%, 2/27/2024 | 653,495,109 | |
213,000,000 | United States Treasury Bills, 5.260% - 5.355%, 2/20/2024 | 212,402,355 | |
400,000,000 | United States Treasury Bills, 5.280% - 5.285%, 2/8/2024 | 399,589,187 | |
350,000,000 | United States Treasury Bills, 5.285% - 5.340%, 3/5/2024 | 348,301,875 | |
35,000,000 | 1 | United States Treasury Floating Rate Notes, 5.204% (91-day T-Bill -0.075%), 2/6/2024 | 35,000,000 |
101,800,000 | 1 | United States Treasury Floating Rate Notes, 5.316% (91-day T-Bill +0.037%), 2/6/2024 | 101,793,061 |
75,600,000 | 1 | United States Treasury Floating Rate Notes, 5.404% (91-day T-Bill +0.125%), 2/6/2024 | 75,566,881 |
36,137,600 | 1 | United States Treasury Floating Rate Notes, 5.419% (91-day T-Bill +0.140%), 2/6/2024 | 36,127,569 |
65,000,000 | 1 | United States Treasury Floating Rate Notes, 5.449% (91-day T-Bill +0.170%), 2/6/2024 | 64,935,598 |
Principal Amount | Value | ||
U.S. TREASURY— continued | |||
$116,940,000 | 1 | United States Treasury Floating Rate Notes, 5.479% (91-day T-Bill +0.200%), 2/6/2024 | $ 116,957,562 |
TOTAL U.S. TREASURY | 5,569,117,693 | ||
GOVERNMENT AGENCIES— 23.5% | |||
35,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.355% (SOFR +0.045%), 2/1/2024 | 34,999,975 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.370% (SOFR +0.060%), 2/1/2024 | 10,000,000 |
9,500,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.385% (SOFR +0.075%), 2/1/2024 | 9,499,954 |
56,400,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.390% (SOFR +0.080%), 2/1/2024 | 56,423,719 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.400% (SOFR+0.090%), 2/1/2024 | 25,000,000 |
70,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.410% (SOFR +0.100%), 2/1/2024 | 69,998,506 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.440% (SOFR +0.130%), 2/1/2024 | 20,000,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.445% (SOFR +0.135%), 2/1/2024 | 10,000,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.465% (SOFR +0.155%), 2/1/2024 | 10,000,000 |
29,900,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.470% (SOFR +0.160%), 2/1/2024 | 29,900,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.475% (SOFR +0.165%), 2/1/2024 | 10,000,000 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.480% (SOFR +0.170%), 2/1/2024 | 20,000,000 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.485% (SOFR +0.175%), 2/1/2024 | 25,000,000 |
301,000,000 | 2 | Federal Home Loan Bank System Discount Notes, 4.600% - 5.310%, 2/2/2024 - 1/22/2025 | 297,245,372 |
300,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.310% - 5.320% (SOFR +0.000%), 2/1/2024 - 2/6/2024 | 300,000,000 |
25,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.315% (SOFR +0.005%), 2/1/2024 | 25,000,000 |
150,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.360% (SOFR +0.050%), 2/1/2024 | 150,000,000 |
20,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.380% (SOFR +0.070%), 2/1/2024 | 20,000,000 |
10,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.400% (SOFR +0.090%), 2/1/2024 | 10,000,002 |
35,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.415% (SOFR +0.105%), 2/1/2024 | 34,999,549 |
25,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.470% (SOFR +0.160%), 2/1/2024 | 25,000,000 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES— continued | |||
$464,925,000 | Federal Home Loan Bank System, 1.875% - 5.640%, 2/16/2024 - 2/14/2025 | $ 464,863,127 | |
TOTAL GOVERNMENT AGENCIES | 1,657,930,204 | ||
TOTAL INVESTMENT IN SECURITIES—102.6% (AT AMORTIZED COST)3 | 7,227,047,897 | ||
OTHER ASSETS AND LIABILITIES - NET—(2.6%)4 | (180,910,310) | ||
TOTAL NET ASSETS—100% | $7,046,137,587 |
1 | Floating/variable note with current rate and current maturity or next reset date shown. |
2 | Discount rate 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 |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.020 | 0.035 | 0.001 | 0.0002 | 0.008 | 0.018 |
Net realized gain (loss) | 0.004 | (0.000)2 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 |
TOTAL FROM INVESTMENT OPERATIONS | 0.024 | 0.035 | 0.001 | 0.0002 | 0.008 | 0.018 |
Less Distributions: | ||||||
Distributions from net investment income | (0.024) | (0.035) | (0.001) | (0.000)2 | (0.008) | (0.018) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
TOTAL DISTRIBUTIONS | (0.024) | (0.035) | (0.001) | (0.000)2 | (0.008) | (0.018) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.47% | 3.59% | 0.14% | 0.01% | 0.83% | 1.81% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.54%5, 6 | 0.53%6 | 0.23% | 0.10% | 0.47%6 | 0.52%6 |
Net investment income | 4.86%5 | 3.69% | 0.15% | 0.02% | 0.84% | 1.79% |
Expense waiver/reimbursement7 | 0.05%5 | 0.09% | 0.39% | 0.52% | 0.15% | 0.09% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $370,501 | $293,103 | $192,603 | $141,092 | $154,561 | $182,939 |
1 | Per share numbers have been calculated using the average shares method. |
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 | The net expense ratios are calculated without reduction for expense offset arrangements. The net expense ratios are 0.54% for the six months ended January 31, 2024 and 0.53%, 0.47% and 0.52% for the years ended July 31, 2023, 2020 and 2019, respectively, after taking into account these expense reductions. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.030 | 0.039 | 0.002 | 0.0002 | 0.011 | 0.021 |
Net realized gain (loss) | (0.004) | (0.000)2 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 |
TOTAL FROM INVESTMENT OPERATIONS | 0.026 | 0.039 | 0.002 | 0.0002 | 0.011 | 0.021 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.039) | (0.002) | (0.000)2 | (0.011) | (0.021) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
TOTAL DISTRIBUTIONS | (0.026) | (0.039) | (0.002) | (0.000)2 | (0.011) | (0.021) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.64% | 3.93% | 0.23% | 0.01% | 1.10% | 2.13% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.20%5,6 | 0.20%6 | 0.12% | 0.10% | 0.20%6 | 0.20%6 |
Net investment income | 5.19%5 | 3.89% | 0.21% | 0.02% | 0.95% | 2.11% |
Expense waiver/ reimbursement7 | 0.05%5 | 0.09% | 0.17% | 0.19% | 0.09% | 0.09% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $3,811,495 | $3,568,910 | $3,507,901 | $3,805,176 | $4,366,142 | $3,019,468 |
1 | Per share numbers have been calculated using the average shares method. |
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 | The net expense ratios are calculated without reduction for expense offset arrangements. The net expense ratios are 0.20% for the six months ended January 31, 2024 and 0.20%, 0.20% and 0.20% for the years ended July 31, 2023, 2020 and 2019, respectively, after taking into account these expense reductions. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.020 | 0.036 | 0.002 | 0.0002 | 0.009 | 0.019 |
Net realized gain (loss) | 0.005 | (0.000)2 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 |
TOTAL FROM INVESTMENT OPERATIONS | 0.025 | 0.036 | 0.002 | 0.0002 | 0.009 | 0.019 |
Less Distributions: | ||||||
Distributions from net investment income | (0.025) | (0.036) | (0.002) | (0.000)2 | (0.009) | (0.019) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
TOTAL DISTRIBUTIONS | (0.025) | (0.036) | (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 | $1.00 |
Total Return3 | 2.51% | 3.67% | 0.16% | 0.01% | 0.89% | 1.88% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.45%5, 6 | 0.45%6 | 0.19% | 0.10% | 0.41%6 | 0.45%6 |
Net investment income | 4.95%5 | 3.63% | 0.15% | 0.02% | 0.86% | 1.86% |
Expense waiver/ reimbursement7 | 0.05%5 | 0.09% | 0.34% | 0.43% | 0.13% | 0.09% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $2,864,142 | $2,724,268 | $2,883,277 | $2,825,555 | $2,950,794 | $2,698,641 |
1 | Per share numbers have been calculated using the average shares method. |
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 | The net expense ratios are calculated without reduction for expense offset arrangements. The net expense ratios are 0.45% for the six months ended January 31, 2024 and 0.45%, 0.41% and 0.45% for the years ended July 31, 2023, 2020 and 2019, respectively, after taking into account these expense reductions. |
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. |
Assets: | |
Investment in securities, at amortized cost and fair value | $7,227,047,897 |
Cash | 2,206,316 |
Income receivable | 12,983,738 |
Receivable for shares sold | 183,985 |
Total Assets | 7,242,421,936 |
Liabilities: | |
Payable for investments purchased | $172,872,049 |
Income distribution payable | 21,172,343 |
Payable for shares redeemed | 1,188,294 |
Payable for other service fees (Notes 2 and 5) | 684,628 |
Payable for investment adviser fee (Note 5) | 22,023 |
Payable for administrative fee (Note 5) | 14,812 |
Payable for Directors’/Trustees’ fees (Note 5) | 5,600 |
Accrued expenses (Note 5) | 324,600 |
TOTAL LIABILITIES | 196,284,349 |
Net assets for 7,046,047,961 shares outstanding | $7,046,137,587 |
Net Assets Consist of: | |
Paid-in capital | $7,046,057,336 |
Total distributable earnings (loss) | 80,251 |
TOTAL NET ASSETS | $7,046,137,587 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$370,500,607 ÷ 370,496,144 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Institutional Shares: | |
$3,811,495,380 ÷ 3,811,447,730 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$2,864,141,600 ÷ 2,864,104,087 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $184,266,955 |
Expenses: | |
Investment adviser fee (Note 5) | $5,689,295 |
Administrative fee (Note 5) | 2,655,470 |
Custodian fees | 99,842 |
Transfer agent fees (Note 2) | 177,047 |
Directors’/Trustees’ fees (Note 5) | 16,817 |
Auditing fees | 13,070 |
Legal fees | 5,326 |
Other service fees (Notes 2 and 5) | 3,803,162 |
Portfolio accounting fees | 93,199 |
Share registration costs | 93,313 |
Printing and postage | 22,129 |
Miscellaneous (Note 5) | 53,604 |
TOTAL EXPENSES | 12,722,274 |
Waiver and Reduction: | |
Waiver of investment adviser fee (Note 5) | (1,789,051) |
Reduction of custodian fees (Note 6) | (18,142) |
TOTAL WAIVER AND REDUCTION | (1,807,193) |
Net expenses | 10,915,081 |
Net investment income | 173,351,874 |
Net realized gain on investments | 159,455 |
Change in net assets resulting from operations | $173,511,329 |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $173,351,874 | $257,665,360 |
Net realized gain (loss) | 159,455 | (1,633) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 173,511,329 | 257,663,727 |
Distributions to Shareholders: | ||
Automated Shares | (8,080,818) | (8,049,851) |
Institutional Shares | (97,461,788) | (149,930,779) |
Service Shares | (67,821,991) | (99,679,899) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (173,364,597) | (257,660,529) |
Share Transactions: | ||
Proceeds from sale of shares | 8,729,528,072 | 20,039,046,497 |
Net asset value of shares issued to shareholders in payment of distributions declared | 23,027,667 | 52,633,890 |
Cost of shares redeemed | (8,292,845,851) | (20,089,184,349) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 459,709,888 | 2,496,038 |
Change in net assets | 459,856,620 | 2,499,236 |
Net Assets: | ||
Beginning of period | 6,586,280,967 | 6,583,781,731 |
End of period | $7,046,137,587 | $6,586,280,967 |
Transfer Agent Fees Incurred | |
Automated Shares | $138,702 |
Institutional Shares | 22,179 |
Service Shares | 16,166 |
TOTAL | $177,047 |
Other Service Fees Incurred | |
Automated Shares | $415,314 |
Service Shares | 3,387,848 |
TOTAL | $3,803,162 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 222,760,930 | $222,760,930 | 342,625,836 | $342,625,836 |
Shares issued to shareholders in payment of distributions declared | 3,829,513 | 3,829,513 | 7,758,905 | 7,758,905 |
Shares redeemed | (149,199,546) | (149,199,546) | (249,884,432) | (249,884,432) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | 77,390,897 | $77,390,897 | 100,500,309 | $100,500,309 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 5,731,373,333 | $5,731,373,333 | 14,281,531,972 | $14,281,531,972 |
Shares issued to shareholders in payment of distributions declared | 16,637,172 | 16,637,172 | 38,271,187 | 38,271,187 |
Shares redeemed | (5,505,503,235) | (5,505,503,235) | (14,258,795,536) | (14,258,795,536) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 242,507,270 | $242,507,270 | 61,007,623 | $61,007,623 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,775,393,809 | $2,775,393,809 | 5,414,888,689 | $5,414,888,689 |
Shares issued to shareholders in payment of distributions declared | 2,560,982 | 2,560,982 | 6,603,798 | 6,603,798 |
Shares redeemed | (2,638,143,070) | (2,638,143,070) | (5,580,504,381) | (5,580,504,381) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 139,811,721 | $139,811,721 | (159,011,894) | $(159,011,894) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 459,709,888 | $459,709,888 | 2,496,038 | $2,496,038 |
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 |
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual: | |||
Automated Shares | $1,000.00 | $1,024.70 | $2.75 |
Institutional Shares | $1,000.00 | $1,026.40 | $1.02 |
Service Shares | $1,000.00 | $1,025.10 | $2.29 |
Hypothetical (assuming a 5% return before expenses): | |||
Automated Shares | $1,000.00 | $1,022.42 | $2.75 |
Institutional Shares | $1,000.00 | $1,024.13 | $1.02 |
Service Shares | $1,000.00 | $1,022.87 | $2.29 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Automated Shares | 0.54% |
Institutional Shares | 0.20% |
Service Shares | 0.45% |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/fhilogok11p.jpg)
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N856
CUSIP 60934N849
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/img73b3ea2c1.gif)
Share Class | Ticker | Institutional | GOTXX |
Federated Hermes Government Obligations Tax-Managed Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
U.S. Treasury Securities | 79.1% |
U.S. Government Agency Securities | 23.5% |
Other Assets and Liabilities—Net2 | (2.6%) |
TOTAL | 100% |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days | 31.6% |
8-30 Days | 30.0% |
31-90 Days | 28.8% |
91-180 Days | 8.8% |
181 Days or more | 3.4% |
Other Assets and Liabilities—Net2 | (2.6%) |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
3 | 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. |
Principal Amount | Value | ||
U.S. TREASURY— 79.1% | |||
$ 25,000,000 | United States Treasury Bill, 5.045%, 7/5/2024 | $ 24,456,962 | |
30,000,000 | United States Treasury Bill, 5.135%, 10/31/2024 | 28,831,787 | |
125,000,000 | United States Treasury Bill, 5.150%, 6/4/2024 | 122,872,049 | |
25,000,000 | United States Treasury Bill, 5.175%, 5/28/2024 | 24,579,531 | |
121,730,000 | United States Treasury Bill, 5.185%, 5/21/2024 | 119,801,424 | |
94,720,000 | United States Treasury Bill, 5.200%, 5/7/2024 | 93,406,549 | |
53,275,000 | United States Treasury Bill, 5.210%, 4/30/2024 | 52,588,803 | |
150,000,000 | United States Treasury Bill, 5.225%, 4/18/2024 | 148,323,646 | |
91,000,000 | United States Treasury Bill, 5.230%, 3/14/2024 | 90,444,695 | |
50,000,000 | United States Treasury Bill, 5.240%, 4/9/2024 | 49,505,111 | |
250,000,000 | United States Treasury Bill, 5.245%, 4/4/2024 | 247,705,313 | |
20,000,000 | United States Treasury Bill, 5.250%, 4/16/2024 | 19,781,250 | |
50,000,000 | United States Treasury Bill, 5.275%, 2/22/2024 | 49,846,146 | |
300,000,000 | United States Treasury Bill, 5.275%, 3/19/2024 | 297,933,957 | |
97,930,000 | United States Treasury Bill, 5.275%, 3/26/2024 | 97,155,129 | |
125,000,000 | United States Treasury Bill, 5.280%, 3/7/2024 | 124,358,333 | |
100,000,000 | United States Treasury Bill, 5.290%, 2/15/2024 | 99,794,278 | |
14,700,000 | United States Treasury Bill, 5.320%, 5/2/2024 | 14,502,318 | |
25,500,000 | United States Treasury Bill, 5.325%, 4/25/2024 | 25,183,163 | |
100,000,000 | United States Treasury Bills, 4.975% - 4.985%, 7/18/2024 | 97,676,000 | |
410,000,000 | United States Treasury Bills, 5.250% - 5.275%, 3/12/2024 | 407,597,221 | |
853,000,000 | United States Treasury Bills, 5.250% - 5.290%, 2/6/2024 | 852,375,290 | |
437,000,000 | United States Treasury Bills, 5.250% - 5.355%, 2/13/2024 | 436,229,541 | |
656,000,000 | United States Treasury Bills, 5.260% - 5.335%, 2/27/2024 | 653,495,109 | |
213,000,000 | United States Treasury Bills, 5.260% - 5.355%, 2/20/2024 | 212,402,355 | |
400,000,000 | United States Treasury Bills, 5.280% - 5.285%, 2/8/2024 | 399,589,187 | |
350,000,000 | United States Treasury Bills, 5.285% - 5.340%, 3/5/2024 | 348,301,875 | |
35,000,000 | 1 | United States Treasury Floating Rate Notes, 5.204% (91-day T-Bill -0.075%), 2/6/2024 | 35,000,000 |
101,800,000 | 1 | United States Treasury Floating Rate Notes, 5.316% (91-day T-Bill +0.037%), 2/6/2024 | 101,793,061 |
75,600,000 | 1 | United States Treasury Floating Rate Notes, 5.404% (91-day T-Bill +0.125%), 2/6/2024 | 75,566,881 |
36,137,600 | 1 | United States Treasury Floating Rate Notes, 5.419% (91-day T-Bill +0.140%), 2/6/2024 | 36,127,569 |
65,000,000 | 1 | United States Treasury Floating Rate Notes, 5.449% (91-day T-Bill +0.170%), 2/6/2024 | 64,935,598 |
Principal Amount | Value | ||
U.S. TREASURY— continued | |||
$116,940,000 | 1 | United States Treasury Floating Rate Notes, 5.479% (91-day T-Bill +0.200%), 2/6/2024 | $ 116,957,562 |
TOTAL U.S. TREASURY | 5,569,117,693 | ||
GOVERNMENT AGENCIES— 23.5% | |||
35,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.355% (SOFR +0.045%), 2/1/2024 | 34,999,975 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.370% (SOFR +0.060%), 2/1/2024 | 10,000,000 |
9,500,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.385% (SOFR +0.075%), 2/1/2024 | 9,499,954 |
56,400,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.390% (SOFR +0.080%), 2/1/2024 | 56,423,719 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.400% (SOFR+0.090%), 2/1/2024 | 25,000,000 |
70,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.410% (SOFR +0.100%), 2/1/2024 | 69,998,506 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.440% (SOFR +0.130%), 2/1/2024 | 20,000,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.445% (SOFR +0.135%), 2/1/2024 | 10,000,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.465% (SOFR +0.155%), 2/1/2024 | 10,000,000 |
29,900,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.470% (SOFR +0.160%), 2/1/2024 | 29,900,000 |
10,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.475% (SOFR +0.165%), 2/1/2024 | 10,000,000 |
20,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.480% (SOFR +0.170%), 2/1/2024 | 20,000,000 |
25,000,000 | 1 | Federal Farm Credit System Floating Rate Notes, 5.485% (SOFR +0.175%), 2/1/2024 | 25,000,000 |
301,000,000 | 2 | Federal Home Loan Bank System Discount Notes, 4.600% - 5.310%, 2/2/2024 - 1/22/2025 | 297,245,372 |
300,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.310% - 5.320% (SOFR +0.000%), 2/1/2024 - 2/6/2024 | 300,000,000 |
25,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.315% (SOFR +0.005%), 2/1/2024 | 25,000,000 |
150,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.360% (SOFR +0.050%), 2/1/2024 | 150,000,000 |
20,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.380% (SOFR +0.070%), 2/1/2024 | 20,000,000 |
10,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.400% (SOFR +0.090%), 2/1/2024 | 10,000,002 |
35,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.415% (SOFR +0.105%), 2/1/2024 | 34,999,549 |
25,000,000 | 1 | Federal Home Loan Bank System Floating Rate Notes, 5.470% (SOFR +0.160%), 2/1/2024 | 25,000,000 |
Principal Amount | Value | ||
GOVERNMENT AGENCIES— continued | |||
$464,925,000 | Federal Home Loan Bank System, 1.875% - 5.640%, 2/16/2024 - 2/14/2025 | $ 464,863,127 | |
TOTAL GOVERNMENT AGENCIES | 1,657,930,204 | ||
TOTAL INVESTMENT IN SECURITIES—102.6% (AT AMORTIZED COST)3 | 7,227,047,897 | ||
OTHER ASSETS AND LIABILITIES - NET—(2.6%)4 | (180,910,310) | ||
TOTAL NET ASSETS—100% | $7,046,137,587 |
1 | Floating/variable note with current rate and current maturity or next reset date shown. |
2 | Discount rate 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 |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.030 | 0.039 | 0.002 | 0.0002 | 0.011 | 0.021 |
Net realized gain (loss) | (0.004) | (0.000)2 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 |
TOTAL FROM INVESTMENT OPERATIONS | 0.026 | 0.039 | 0.002 | 0.0002 | 0.011 | 0.021 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.039) | (0.002) | (0.000)2 | (0.011) | (0.021) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
TOTAL DISTRIBUTIONS | (0.026) | (0.039) | (0.002) | (0.000)2 | (0.011) | (0.021) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.64% | 3.93% | 0.23% | 0.01% | 1.10% | 2.13% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.20%5,6 | 0.20%6 | 0.12% | 0.10% | 0.20%6 | 0.20%6 |
Net investment income | 5.19%5 | 3.89% | 0.21% | 0.02% | 0.95% | 2.11% |
Expense waiver/ reimbursement7 | 0.05%5 | 0.09% | 0.17% | 0.19% | 0.09% | 0.09% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $3,811,495 | $3,568,910 | $3,507,901 | $3,805,176 | $4,366,142 | $3,019,468 |
1 | Per share numbers have been calculated using the average shares method. |
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 | The net expense ratios are calculated without reduction for expense offset arrangements. The net expense ratios are 0.20% for the six months ended January 31, 2024 and 0.20%, 0.20% and 0.20% for the years ended July 31, 2023, 2020 and 2019, respectively, after taking into account these expense reductions. |
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. |
Assets: | |
Investment in securities, at amortized cost and fair value | $7,227,047,897 |
Cash | 2,206,316 |
Income receivable | 12,983,738 |
Receivable for shares sold | 183,985 |
Total Assets | 7,242,421,936 |
Liabilities: | |
Payable for investments purchased | $172,872,049 |
Income distribution payable | 21,172,343 |
Payable for shares redeemed | 1,188,294 |
Payable for other service fees (Notes 2 and 5) | 684,628 |
Payable for investment adviser fee (Note 5) | 22,023 |
Payable for administrative fee (Note 5) | 14,812 |
Payable for Directors’/Trustees’ fees (Note 5) | 5,600 |
Accrued expenses (Note 5) | 324,600 |
TOTAL LIABILITIES | 196,284,349 |
Net assets for 7,046,047,961 shares outstanding | $7,046,137,587 |
Net Assets Consist of: | |
Paid-in capital | $7,046,057,336 |
Total distributable earnings (loss) | 80,251 |
TOTAL NET ASSETS | $7,046,137,587 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$370,500,607 ÷ 370,496,144 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Institutional Shares: | |
$3,811,495,380 ÷ 3,811,447,730 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$2,864,141,600 ÷ 2,864,104,087 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $184,266,955 |
Expenses: | |
Investment adviser fee (Note 5) | $5,689,295 |
Administrative fee (Note 5) | 2,655,470 |
Custodian fees | 99,842 |
Transfer agent fees (Note 2) | 177,047 |
Directors’/Trustees’ fees (Note 5) | 16,817 |
Auditing fees | 13,070 |
Legal fees | 5,326 |
Other service fees (Notes 2 and 5) | 3,803,162 |
Portfolio accounting fees | 93,199 |
Share registration costs | 93,313 |
Printing and postage | 22,129 |
Miscellaneous (Note 5) | 53,604 |
TOTAL EXPENSES | 12,722,274 |
Waiver and Reduction: | |
Waiver of investment adviser fee (Note 5) | (1,789,051) |
Reduction of custodian fees (Note 6) | (18,142) |
TOTAL WAIVER AND REDUCTION | (1,807,193) |
Net expenses | 10,915,081 |
Net investment income | 173,351,874 |
Net realized gain on investments | 159,455 |
Change in net assets resulting from operations | $173,511,329 |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $173,351,874 | $257,665,360 |
Net realized gain (loss) | 159,455 | (1,633) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 173,511,329 | 257,663,727 |
Distributions to Shareholders: | ||
Automated Shares | (8,080,818) | (8,049,851) |
Institutional Shares | (97,461,788) | (149,930,779) |
Service Shares | (67,821,991) | (99,679,899) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (173,364,597) | (257,660,529) |
Share Transactions: | ||
Proceeds from sale of shares | 8,729,528,072 | 20,039,046,497 |
Net asset value of shares issued to shareholders in payment of distributions declared | 23,027,667 | 52,633,890 |
Cost of shares redeemed | (8,292,845,851) | (20,089,184,349) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 459,709,888 | 2,496,038 |
Change in net assets | 459,856,620 | 2,499,236 |
Net Assets: | ||
Beginning of period | 6,586,280,967 | 6,583,781,731 |
End of period | $7,046,137,587 | $6,586,280,967 |
Transfer Agent Fees Incurred | |
Automated Shares | $138,702 |
Institutional Shares | 22,179 |
Service Shares | 16,166 |
TOTAL | $177,047 |
Other Service Fees Incurred | |
Automated Shares | $415,314 |
Service Shares | 3,387,848 |
TOTAL | $3,803,162 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 222,760,930 | $222,760,930 | 342,625,836 | $342,625,836 |
Shares issued to shareholders in payment of distributions declared | 3,829,513 | 3,829,513 | 7,758,905 | 7,758,905 |
Shares redeemed | (149,199,546) | (149,199,546) | (249,884,432) | (249,884,432) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | 77,390,897 | $77,390,897 | 100,500,309 | $100,500,309 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 5,731,373,333 | $5,731,373,333 | 14,281,531,972 | $14,281,531,972 |
Shares issued to shareholders in payment of distributions declared | 16,637,172 | 16,637,172 | 38,271,187 | 38,271,187 |
Shares redeemed | (5,505,503,235) | (5,505,503,235) | (14,258,795,536) | (14,258,795,536) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 242,507,270 | $242,507,270 | 61,007,623 | $61,007,623 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,775,393,809 | $2,775,393,809 | 5,414,888,689 | $5,414,888,689 |
Shares issued to shareholders in payment of distributions declared | 2,560,982 | 2,560,982 | 6,603,798 | 6,603,798 |
Shares redeemed | (2,638,143,070) | (2,638,143,070) | (5,580,504,381) | (5,580,504,381) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 139,811,721 | $139,811,721 | (159,011,894) | $(159,011,894) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 459,709,888 | $459,709,888 | 2,496,038 | $2,496,038 |
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 |
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,026.40 | $1.02 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.13 | $1.02 |
1 | Expenses are equal to the Fund’s Institutional Shares annualized net expense ration of 0.20% multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/fhilogok11p.jpg)
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/imgc941f8371.gif)
Share Class | Ticker | Institutional | MMPXX | Capital | MMLXX | Eagle | MMMXX |
Federated Hermes Institutional Money Market Management
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Variable Rate Instruments | 21.1% |
Commercial Paper | 19.1% |
Certificates of Deposit | 18.5% |
Time Deposit | 4.9% |
Asset-Backed Security2 | 0.0% |
Other Repurchase Agreements and Repurchase Agreements | 36.4% |
Other Assets and Liabilities—Net2,3 | (0.0)% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these investments. |
2 | Represents less than 0.1%. |
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 Days | 63.4%2 |
8-30 Days | 9.6% |
31-90 Days | 14.5% |
91-180 Days | 6.7% |
181 Days or more | 5.8% |
Other Assets and Liabilities—Net3,4 | (0.0)% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Overnight securities comprised 30.0% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
4 | Represents less than 0.1%. |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— 21.1% | ||
Finance - Banking— 13.7% | |||
$ 5,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | $ 5,000,000 | |
4,000,000 | Bank of Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 4,000,000 | |
5,000,000 | Bank of Montreal, 5.910% (SOFR +0.600%), 2/1/2024 | 5,006,228 | |
2,500,000 | Bank of Montreal, 5.990% (SOFR +0.680%), 2/1/2024 | 2,502,735 | |
2,000,000 | Bank of Nova Scotia, Toronto, 5.690% (SOFR +0.380%), 2/1/2024 | 2,000,000 | |
3,000,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.650%), 2/1/2024 | 3,005,612 | |
3,000,000 | Bank of Nova Scotia, Toronto, 5.970% (SOFR +0.660%), 2/1/2024 | 3,003,187 | |
4,000,000 | Canadian Imperial Bank of Commerce, 5.960% (SOFR +0.650%), 2/1/2024 | 4,005,323 | |
7,500,000 | Canadian Imperial Bank of Commerce, 5.960% (SOFR +0.650%), 2/1/2024 | 7,509,096 | |
4,500,000 | City Furniture, Inc., (Wells Fargo Bank, N.A. LOC), 5.460%, 2/1/2024 | 4,500,000 | |
1,500,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.730% (SOFR +0.420%), 2/1/2024 | 1,500,378 | |
1,500,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 1,500,359 | |
15,000,000 | J.P. Morgan Securities LLC, 5.940% (SOFR +0.630%), 2/1/2024 | 15,016,375 | |
5,000,000 | National Australia Bank Ltd., Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 5,000,000 | |
5,000,000 | National Australia Bank Ltd., Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 5,000,000 | |
5,000,000 | National Australia Bank Ltd., Melbourne, 5.790% (SOFR +0.480%), 2/1/2024 | 5,008,335 | |
5,000,000 | National Bank of Canada, Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 5,000,000 | |
5,000,000 | National Bank of Canada, Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 5,000,000 | |
5,000,000 | Ridgefield Funding Co., LLC Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.280%), 2/1/2024 | 5,000,000 | |
5,000,000 | Royal Bank of Canada, New York Branch, 5.910% (SOFR +0.600%), 2/1/2024 | 5,006,400 | |
6,500,000 | Taxable Tender Option Bond Trust 2021-MIZ9064TX, (Series 2021-MIZ9064TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.740%, 2/1/2024 | 6,500,000 | |
13,316,645 | Taxable Tender Option Bond Trust 2022-MIZ9015TX, (Series 2022-MIZ9015TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.580%, 2/1/2024 | 13,316,645 | |
5,150,000 | Taxable Tender Option Bond Trust 2022-MIZ9084TX, (Series 2022-MIZ9084TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.740%, 2/1/2024 | 5,150,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 3,200,000 | Taxable Tender Option Bond Trust 2022-MIZ9094TX, (Series 2022-MIZ9094TX) VRDNs, (Mizuho Bank Ltd. LIQ)/(Mizuho Bank Ltd. LOC), 5.740%, 2/1/2024 | $ 3,200,000 | |
3,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 2/1/2024 | 3,003,408 | |
5,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 5,010,228 | |
5,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 5,010,546 | |
5,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 5,013,156 | |
5,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 5,013,135 | |
5,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 5,013,090 | |
5,000,000 | Wells Fargo Bank, N.A., 5.960% (SOFR +0.650%), 2/1/2024 | 5,009,971 | |
TOTAL | 154,804,207 | ||
Finance - Retail— 4.0% | |||
5,000,000 | Old Line Funding, LLC, 5.690% (SOFR +0.380%), 2/1/2024 | 5,002,705 | |
2,500,000 | Old Line Funding, LLC, 5.710% (SOFR +0.400%), 2/1/2024 | 2,500,810 | |
5,000,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 5,002,194 | |
7,500,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 7,501,339 | |
2,500,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 2,501,289 | |
10,000,000 | Sheffield Receivables Co. LLC, 5.610% (SOFR +0.300%), 2/1/2024 | 10,000,000 | |
5,000,000 | Sheffield Receivables Co. LLC, 5.610% (SOFR +0.300%), 2/1/2024 | 5,000,000 | |
5,000,000 | Thunder Bay Funding, LLC, 5.690% (SOFR +0.380%), 2/1/2024 | 5,001,901 | |
2,500,000 | Thunder Bay Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 2,501,065 | |
TOTAL | 45,011,303 | ||
Government Agency— 3.4% | |||
8,000,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 8,000,000 | |
30,000,000 | HW Hellman Building, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 30,000,000 | |
TOTAL | 38,000,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $237,666,645) | 237,815,510 | ||
2 | COMMERCIAL PAPER— 19.1% | ||
Finance - Banking— 12.8% | |||
5,000,000 | Anglesea Funding LLC, 5.413% - 5.681%, 2/1/2024 - 2/5/2024 | 4,998,453 | |
8,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.802% - 5.935%, 5/1/2024 - 8/16/2024 | 7,849,304 | |
5,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 4,891,477 | |
15,000,000 | BPCE S.A., 5.602%, 3/12/2024 | 14,908,083 | |
20,500,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | 20,123,885 | |
5,000,000 | Citigroup Global Markets, Inc., 5.902%, 5/1/2024 | 4,931,604 | |
7,500,000 | DNB Bank ASA, 5.803%, 4/18/2024 | 7,414,499 | |
50,000,000 | Nationwide Building Society, 5.325%, 2/13/2024 | 49,911,417 |
Principal Amount | Value | ||
2 | COMMERCIAL PAPER— continued | ||
Finance - Banking— continued | |||
$ 5,000,000 | Nordea Bank Abp, 5.796%, 4/19/2024 | $ 4,942,095 | |
2,500,000 | Podium Funding Trust, 5.614% - 5.731%, 5/17/2024 - 6/10/2024 | 2,457,026 | |
9,500,000 | Royal Bank of Canada, 6.000% - 6.004%, 10/11/2024 - 10/16/2024 | 9,161,365 | |
13,000,000 | Toronto Dominion Bank, 5.801% - 6.004%, 5/16/2024 - 8/23/2024 | 12,979,916 | |
TOTAL | 144,569,124 | ||
Finance - Commercial— 0.1% | |||
1,500,000 | Atlantic Asset Securitization LLC, 5.471%, 2/20/2024 | 1,495,709 | |
Finance - Retail— 2.5% | |||
27,500,000 | Chariot Funding LLC, 5.426% - 5.506%, 2/6/2024 - 4/25/2024 | 27,292,968 | |
1,000,000 | Fairway Finance Co. LLC, 5.810%, 4/17/2024 | 988,505 | |
TOTAL | 28,281,473 | ||
Pharmaceuticals and Health Care— 1.9% | |||
21,000,000 | Eli Lilly & Co., 5.322% - 5.342%, 2/15/2024 - 2/20/2024 | 20,948,464 | |
Sovereign— 1.8% | |||
5,000,000 | BNG Bank N.V., 5.336%, 2/9/2024 | 4,994,089 | |
10,000,000 | Caisse des Depots et Consignations (CDC), 5.347% - 5.348%, 2/28/2024 - 2/29/2024 | 9,959,323 | |
5,000,000 | NRW.Bank, 5.657%, 2/12/2024 | 4,991,521 | |
TOTAL | 19,944,933 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $215,123,924) | 215,239,703 | ||
CERTIFICATES OF DEPOSIT— 18.5% | |||
Finance - Banking— 18.5% | |||
9,500,000 | Bank of America N.A., 5.180% - 6.000%, 6/17/2024 - 1/24/2025 | 9,517,885 | |
4,000,000 | Bank of America N.A., 5.440% - 6.000%, 2/7/2024 - 9/23/2024 | 4,006,073 | |
7,500,000 | Bank of Montreal, 5.820%, 5/28/2024 | 7,505,276 | |
5,000,000 | Bank of Nova Scotia, Toronto, 6.000%, 10/18/2024 | 5,024,944 | |
20,500,000 | Canadian Imperial Bank of Commerce, 5.250% - 6.000%, 2/5/2024 - 10/17/2024 | 20,542,878 | |
23,000,000 | Citibank N.A., New York, 5.740% - 6.010%, 7/22/2024 - 9/18/2024 | 23,067,460 | |
5,000,000 | Credit Agricole Corporate and Investment Bank, 5.690%, 2/1/2024 | 5,000,000 | |
12,500,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.710% - 5.800%, 4/24/2024 - 5/17/2024 | 12,508,009 | |
25,000,000 | Mizuho Bank Ltd., 5.580% - 5.750%, 2/2/2024 - 3/19/2024 | 25,000,000 | |
15,500,000 | MUFG Bank Ltd., 5.500% - 5.700%, 2/14/2024 - 3/28/2024 | 15,500,000 | |
52,000,000 | Sumitomo Mitsui Trust Bank Ltd., 5.450% - 5.700%, 2/6/2024 - 4/18/2024 | 52,000,488 | |
12,500,000 | Svenska Handelsbanken, Stockholm, 5.800%, 4/4/2024 - 4/17/2024 | 12,508,871 | |
17,000,000 | Toronto Dominion Bank, 6.000% - 6.050%, 7/10/2024 - 10/3/2024 | 16,739,336 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $208,679,267) | 208,921,220 |
Principal Amount | Value | ||
TIME DEPOSIT— 4.9% | |||
Finance - Banking— 4.9% | |||
$ 55,000,000 | ABN Amro Bank NV, 5.330%, 2/5/2024 (IDENTIFIED COST $55,000,000) | $ 55,000,000 | |
ASSET-BACKED SECURITY— 0.0% | |||
Auto Receivables— 0.0% | |||
700,525 | Enterprise Fleet Financing, LLC 2023-3, Class A1, 5.906%, 10/21/2024 (IDENTIFIED COST $700,525) | 701,173 | |
OTHER REPURCHASE AGREEMENTS— 12.8% | |||
Finance - Banking— 12.8% | |||
10,000,000 | BMO Capital Markets Corp., 5.41%, dated 1/31/2024, interest in a $550,000,000 collateralized loan agreement will repurchase securities provided as collateral for $550,082,653 on 2/1/2024, in which corporate bonds, asset-backed securities, medium-term notes, collateralized mortgage obligations, U.S. Government Agency securities and sovereign debt securities with a market value of $561,084,532 have been received as collateral and held with BNY Mellon as tri-party agent. | 10,000,000 | |
25,000,000 | BNP Paribas S.A., 4.40%, dated 1/31/2024, interest in a $1,275,000,000 collateralized loan agreement will repurchase securities provided as collateral for $1,275,190,896 on 2/1/2024, in which asset-backed securities, corporate bonds, medium-term notes, U.S. Government Agency securities and sovereign debt securities with a market value of $1,300,694,714 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
15,000,000 | BofA Securities, Inc., 5.41%, dated 12/13/2022, interest in a $165,000,000 collateralized loan agreement will repurchase securities provided as collateral for $165,173,571 on 2/8/2024, in which corporate bonds, asset-backed securities and medium-term notes with a market value of $168,325,292 have been received as collateral and held with BNY Mellon as tri-party agent. | 15,000,000 | |
25,000,000 | BofA Securities, Inc., 5.37%, dated 1/31/2024, interest in a $60,000,000 collateralized loan agreement will repurchase securities provided as collateral for $60,008,950 on 2/1/2024, in which corporate bonds and medium-term notes with a market value of $61,209,195 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
5,000,000 | Citigroup Global Markets, Inc.,5.50%, dated 11/7/2023, interest in a $300,000,000 collateralized loan agreement will repurchase securities provided as collateral for $300,320,833 on 2/8/2024, in which American depository receipts, common stocks, treasury bonds and treasury notes with a market value of $307,401,971 have been received as collateral and held with BNY Mellon as tri-party agent. | 5,000,000 | |
35,000,000 | Credit Agricole S.A., 5.47%, dated 2/17/2023, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $200,212,722 on 2/8/2024, in which asset-backed securities, corporate bonds and medium-term notes with a market value of $204,030,997 have been received as collateral and held with BNY Mellon as tri-party agent. | 35,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 5,000,000 | HSBC Securities (USA), Inc., 5.51%, dated 1/31/2024, interest in a $5,000,000 collateralized loan agreement will repurchase securities provided as collateral for $5,000,765 on 2/1/2024, in which, corporate bonds, asset-backed securities and municipal bonds with a market value of $5,100,000 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, 5.54%, dated 1/18/2024, interest in a $1,000,000,000 collateralized loan agreement will repurchase securities provided as collateral for $1,005,386,111 on 2/22/2024, in which, corporate bonds and medium-term notes with a market value of $1,020,000,001 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 collateralized loan agreement will repurchase securities provided as collateral for $300,324,917 on 2/8/2024, 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 $306,210,617 have been received as collateral and held with BNY Mellon as tri-party agent. | 15,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $145,000,000) | 145,000,000 | ||
REPURCHASE AGREEMENTS— 23.6% | |||
Finance - Banking— 23.6% | |||
150,000,000 | Interest in $1,250,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Mitsubishi UFJ Securities (USA), Inc. will repurchase securities provided as collateral for $1,250,184,722 on 2/1/2024. 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 10/20/2053 and the market value of those underlying securities was $1,287,690,264. | 150,000,000 | |
116,415,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 11/20/2051 and the market value of those underlying securities was $3,063,264,328. | 116,415,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $266,415,000) | 266,415,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.0% (IDENTIFIED COST $1,128,585,361)3 | 1,129,092,606 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.0)%4 | (63,711) | ||
TOTAL NET ASSETS—100% | $1,129,028,895 |
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 | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
SOFR | —Secured Overnight Financing Rate | |
VRDNs | —Variable Rate Demand Notes |
Six Months Ended (unaudited) 1/31/2024 | Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $0.9996 | $0.9992 | $0.9998 | $1.0000 | $0.9998 | $0.9997 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.0275 | 0.0417 | 0.0036 | 0.0006 | 0.0141 | 0.0238 |
Net realized and unrealized gain (loss) | 0.0005 | 0.0003 | (0.0006) | (0.0002) | 0.0002 | 0.0001 |
Total From Investment Operations | 0.0280 | 0.0420 | 0.0030 | 0.0004 | 0.0143 | 0.0239 |
Less Distributions: | ||||||
Distributions from net investment income | (0.0275) | (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 | (0.0275) | (0.0416) | (0.0036) | (0.0006) | (0.0141) | (0.0238) |
Net Asset Value, End of Period | $1.0001 | $0.9996 | $0.9992 | $0.9998 | $1.0000 | $0.9998 |
Total Return3 | 2.83% | 4.29% | 0.30% | 0.04% | 1.44% | 2.42% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.15%5 | 0.15% | 0.15% | 0.15% | 0.15% | 0.15% |
Net investment income | 5.46%5 | 4.18% | 0.37% | 0.07% | 1.20% | 2.39% |
Expense waiver/reimbursement6 | 0.14%5 | 0.17% | 0.18% | 0.17% | 0.21% | 1.02% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $1,124,164 | $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. 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. |
Six Months Ended (unaudited) 1/31/2024 | Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $0.9996 | $0.9992 | $0.9998 | $1.0000 | $0.9998 | $0.9997 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.0270 | 0.0408 | 0.0031 | 0.0002 | 0.0131 | 0.0228 |
Net realized and unrealized gain (loss) | 0.0005 | 0.0003 | (0.0006) | (0.0002) | 0.0002 | 0.0001 |
Total From Investment Operations | 0.0275 | 0.0411 | 0.0025 | 0.00002 | 0.0133 | 0.0229 |
Less Distributions: | ||||||
Distributions from net investment income | (0.0270) | (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 | (0.0270) | (0.0407) | (0.0031) | (0.0002) | (0.0131) | (0.0228) |
Net Asset Value, End of Period | $1.0001 | $0.9996 | $0.9992 | $0.9998 | $1.0000 | $0.9998 |
Total Return3 | 2.78% | 4.19% | 0.26% | 0.00%4 | 1.33% | 2.32% |
Ratios to Average Net Assets: | ||||||
Net expenses5 | 0.25%6 | 0.25% | 0.19% | 0.20% | 0.25% | 0.25% |
Net investment income | 5.36%6 | 4.08% | 0.31% | 0.02% | 1.31% | 2.28% |
Expense waiver/reimbursement7 | 0.14%6 | 0.17% | 0.24% | 0.23% | 0.28% | 1.04% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $191 | $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. Total returns for periods of less than one year are not annualized. |
4 | Represents less than 0.01%. |
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. |
Six Months Ended (unaudited) 1/31/2024 | Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $0.9996 | $0.9992 | $0.9998 | $1.0000 | $0.9998 | $0.9997 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.0262 | 0.0392 | 0.0026 | 0.0001 | 0.0122 | 0.0218 |
Net realized and unrealized gain (loss) | 0.0006 | 0.0003 | (0.0006) | (0.0002) | 0.0001 | 0.0001 |
Total From Investment Operations | 0.0268 | 0.0395 | 0.0020 | (0.0001) | 0.0123 | 0.0219 |
Less Distributions: | ||||||
Distributions from net investment income | (0.0262) | (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 | (0.0262) | (0.0391) | (0.0026) | (0.0001) | (0.0121) | (0.0218) |
Net Asset Value, End of Period | $1.0002 | $0.9996 | $0.9992 | $0.9998 | $1.0000 | $0.9998 |
Total Return3 | 2.71% | 4.03% | 0.20% | (0.01)% | 1.23% | 2.21% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.40%5 | 0.40% | 0.24% | 0.20% | 0.35% | 0.35% |
Net investment income | 5.21%5 | 3.92% | 0.24% | 0.01% | 1.21% | 2.18% |
Expense waiver/reimbursement6 | 0.14%5 | 0.17% | 0.33% | 0.37% | 0.29% | 1.04% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $4,673 | $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. 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. |
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $411,415,000 |
Investment in securities | 717,677,606 |
Investment in securities, at value (identified cost $1,128,585,361) | 1,129,092,606 |
Income receivable | 5,230,969 |
Receivable for shares sold | 51,002 |
Total Assets | 1,134,374,577 |
Liabilities: | |
Payable for shares redeemed | 289,227 |
Payable to bank | 15,488 |
Income distribution payable | 4,952,588 |
Payable for investment adviser fee (Note 5) | 947 |
Payable for administrative fee (Note 5) | 2,397 |
Payable for Directors’/Trustees’ fees (Note 5) | 1,056 |
Payable for other service fees (Notes 2 and 5) | 284 |
Accrued expenses (Note 5) | 83,695 |
Total Liabilities | 5,345,682 |
Net assets for 1,128,877,108 shares outstanding | $1,129,028,895 |
Net Assets Consist of: | |
Paid-in capital | $1,128,521,504 |
Total distributable earnings (loss) | 507,391 |
Total Net Assets | $1,129,028,895 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share | |
Institutional Shares: | |
$1,124,164,125 ÷ 1,124,013,148 shares outstanding, no par value, unlimited shares authorized | $1.0001 |
Capital Shares: | |
$191,329 ÷ 191,304 shares outstanding, no par value, unlimited shares authorized | $1.0001 |
Eagle Shares: | |
$4,673,441 ÷ 4,672,656 shares outstanding, no par value, unlimited shares authorized | $1.0002 |
Investment Income: | |
Interest | $32,515,613 |
Expenses: | |
Investment adviser fee (Note 5) | 962,295 |
Administrative fee (Note 5) | 450,868 |
Custodian fees | 24,992 |
Transfer agent fees | 12,745 |
Directors’/Trustees’ fees (Note 5) | 2,994 |
Auditing fees | 11,764 |
Legal fees | 5,282 |
Portfolio accounting fees | 103,351 |
Other service fees (Notes 2 and 5) | 5,620 |
Share registration costs | 66,634 |
Printing and postage | 10,398 |
Miscellaneous (Note 5) | 27,349 |
TOTAL EXPENSES | 1,684,292 |
Waiver: | |
Waiver of investment adviser fee (Note 5) | (782,154) |
Net expenses | 902,138 |
Net investment income | 31,613,475 |
Net change in unrealized depreciation of investments | 619,274 |
Change in net assets resulting from operations | $32,232,749 |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $31,613,475 | $46,028,575 |
Net realized gain (loss) | — | 803 |
Net change in unrealized appreciation/depreciation | 619,274 | 475,661 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 32,232,749 | 46,505,039 |
Distributions to Shareholders: | ||
Institutional Shares | (31,493,745) | (45,854,090) |
Service Shares1 | (262) | (4,436) |
Capital Shares | (5,080) | (7,406) |
Eagle Shares | (114,947) | (168,043) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (31,614,034) | (46,033,975) |
Share Transactions: | ||
Proceeds from sale of shares | 382,776,936 | 483,903,208 |
Net asset value of shares issued to shareholders in payment of distributions declared | 2,503,983 | 2,789,519 |
Cost of shares redeemed | (387,962,115) | (446,452,358) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (2,681,196) | 40,240,369 |
Change in net assets | (2,062,481) | 40,711,433 |
Net Assets: | ||
Beginning of period | 1,131,091,376 | 1,090,379,943 |
End of period | $1,129,028,895 | $1,131,091,376 |
1 | On October 27, 2023, Service Shares were converted to Eagle Shares. |
Other Service Fees Incurred | |
Service Shares | $12 |
Capital Shares | 95 |
Eagle Shares | 5,513 |
TOTAL | $5,620 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 382,387,006 | $382,330,114 | 480,219,173 | $479,967,618 |
Shares issued to shareholders in payment of distributions declared | 2,387,257 | 2,386,949 | 2,618,341 | 2,617,076 |
Shares redeemed | (387,645,522) | (387,611,288) | (442,067,101) | (441,842,879) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (2,871,259) | $(2,894,225) | 40,770,413 | $40,741,815 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | 3,021,333 | $3,019,046 |
Shares issued to shareholders in payment of distributions declared | 177 | 177 | 783 | 782 |
Conversion of Service Shares to Eagle Shares1 | (20,542) | (20,538) | — | — |
Shares redeemed | — | — | (3,422,296) | (3,419,689) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (20,365) | $(20,361) | (400,180) | $(399,861) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | — | $— |
Shares issued to shareholders in payment of distributions declared | 5,077 | 5,077 | 7,406 | 7,402 |
Shares redeemed | — | — | — | — |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 5,077 | $5,077 | 7,406 | $7,402 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Eagle Shares: | Shares | Amount | Shares | Amount |
Shares sold | 446,744 | $446,822 | 917,020 | $916,544 |
Shares issued to shareholders in payment of distributions declared | 111,787 | 111,780 | 164,337 | 164,259 |
Conversion of Service Shares to Eagle Shares1 | 20,542 | 20,538 | — | — |
Shares redeemed | (350,897) | (350,827) | (1,190,497) | (1,189,790) |
NET CHANGE RESULTING FROM EAGLE SHARE TRANSACTIONS | 228,176 | $228,313 | (109,140) | $(108,987) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (2,658,371) | $(2,681,196) | 40,268,499 | $40,240,369 |
1 | On October 27, 2023, Service Shares were converted to Eagle Shares. Within the Statement of Changes in Net Assets, the conversion from Service Shares is within the Cost of shares redeemed and the conversion to Eagle Shares is within Proceeds from sale of shares. |
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 |
While the Adviser and its applicable affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Trustees.
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,028.30 | $0.76 |
Capital Shares | $1,000 | $1,027.80 | $1.27 |
Eagle Shares | $1,000 | $1,027.10 | $2.04 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,024.38 | $0.76 |
Capital Shares | $1,000 | $1,023.88 | $1.27 |
Eagle Shares | $1,000 | $1,023.13 | $2.03 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Institutional Shares | 0.15% |
Capital Shares | 0.25% |
Eagle Shares | 0.40% |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/fhilogok11p.jpg)
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 608919759
CUSIP 60934N211
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/img83607c4a1.gif)
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
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Bank Instruments | 33.1% |
Variable Rate Instruments | 20.5% |
Commercial Paper | 14.5% |
U.S. Treasury Securities | 0.9% |
Other Repurchase Agreements and Repurchase Agreements | 25.3% |
Cash Equivalent2 | 2.2% |
Other Assets and Liabilities—Net3 | 3.5% |
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 | 64.7% |
8-30 Days | 9.1% |
31-90 Days | 11.8% |
91-180 Days | 5.1% |
181 Days or more | 5.8% |
Other Assets and Liabilities—Net3 | 3.5% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Overnight securities comprised 25.3% 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 | ||
CERTIFICATES OF DEPOSIT— 23.2% | |||
Finance - Banking— 23.2% | |||
$1,361,000,000 | Bank of America N.A., 5.180% - 6.000%, 5/28/2024 - 1/24/2025 | $ 1,361,000,000 | |
217,500,000 | Bank of America N.A., 5.440% - 6.000%, 2/7/2024 - 9/23/2024 | 217,500,000 | |
67,500,000 | Bank of Montreal, 5.820%, 5/28/2024 | 67,500,000 | |
304,000,000 | Bank of Nova Scotia, Toronto, 6.000%, 10/3/2024 - 10/18/2024 | 304,000,000 | |
111,000,000 | BMO Bank N.A., 6.000%, 9/9/2024 | 111,000,000 | |
849,500,000 | Canadian Imperial Bank of Commerce, 5.250% - 6.000%, 2/5/2024 - 10/17/2024 | 849,500,000 | |
1,235,000,000 | Citibank N.A., New York, 5.740% - 6.010%, 7/22/2024 - 9/18/2024 | 1,235,000,000 | |
2,530,000,000 | Credit Agricole Corporate and Investment Bank, 5.320% - 5.690%, 2/1/2024 - 2/7/2024 | 2,530,000,000 | |
545,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.710% - 5.800%, 4/24/2024 - 5/17/2024 | 545,000,000 | |
2,520,000,000 | Mizuho Bank Ltd., 5.430% - 5.750%, 2/2/2024 - 4/17/2024 | 2,520,000,000 | |
1,907,500,000 | MUFG Bank Ltd., 5.500% - 5.750%, 2/14/2024 - 3/28/2024 | 1,907,500,000 | |
2,713,500,000 | Sumitomo Mitsui Trust Bank Ltd., 5.450% - 5.700%, 2/5/2024 - 4/18/2024 | 2,713,500,000 | |
575,000,000 | Svenska Handelsbanken, Stockholm, 5.800%, 4/4/2024 - 4/17/2024 | 575,000,000 | |
1,039,000,000 | Toronto Dominion Bank 5.440% - 6.050%, 2/13/2024 - 10/17/2024 | 1,039,000,000 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $15,975,500,000) | 15,975,500,000 | ||
1 | NOTES - VARIABLE— 20.5% | ||
Aerospace/Auto— 0.6% | |||
434,000,000 | Toyota Motor Credit Corp., (Toyota Motor Corp. S.A.), 5.810% (SOFR +0.500%), 2/1/2024 | 434,000,000 | |
Finance - Banking— 17.5% | |||
145,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 145,000,000 | |
275,000,000 | Bank of America N.A., 5.660% (SOFR +0.350%), 2/1/2024 | 275,000,000 | |
250,000,000 | Bank of America N.A., 5.840% (SOFR +0.530%), 2/1/2024 | 250,000,000 | |
200,000,000 | Bank of America N.A., 5.930% (SOFR +0.620%), 2/1/2024 | 200,000,000 | |
250,000,000 | Bank of America N.A., 5.930% (SOFR +0.620%), 2/1/2024 | 250,000,000 | |
175,000,000 | Bank of Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 175,000,000 | |
425,000,000 | Bank of Montreal, 5.690% (SOFR +0.380%), 2/1/2024 | 425,000,000 | |
250,000,000 | Bank of Montreal, 5.780% (SOFR +0.470%), 2/1/2024 | 250,000,000 | |
515,000,000 | Bank of Montreal, 5.820% (SOFR +0.510%), 2/1/2024 | 515,000,000 | |
165,000,000 | Bank of Montreal, 5.910% (SOFR +0.600%), 2/1/2024 | 165,000,000 | |
52,500,000 | Bank of Montreal, 5.990% (SOFR +0.680%), 2/1/2024 | 52,500,000 | |
75,000,000 | Bank of Nova Scotia, Toronto, 5.620% (SOFR +0.310%), 2/1/2024 | 75,000,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 175,000,000 | Bank of Nova Scotia, Toronto, 5.690% (SOFR +0.380%), 2/1/2024 | $ 175,000,000 | |
218,000,000 | Bank of Nova Scotia, Toronto, 5.690% (SOFR +0.380%), 2/1/2024 | 218,000,000 | |
90,000,000 | Bank of Nova Scotia, Toronto, 5.720% (SOFR +0.410%), 2/1/2024 | 89,999,997 | |
250,000,000 | Bank of Nova Scotia, Toronto, 5.820% (SOFR +0.510%), 2/1/2024 | 250,000,000 | |
147,000,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.650%), 2/1/2024 | 147,000,000 | |
197,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.970% (SOFR +0.660%), 2/1/2024 | 197,000,000 |
200,000,000 | Canadian Imperial Bank of Commerce, 5.820% (SOFR +0.510%), 2/1/2024 | 200,000,000 | |
317,500,000 | Canadian Imperial Bank of Commerce, 5.960% (SOFR +0.650%), 2/1/2024 | 317,500,000 | |
121,000,000 | Canadian Imperial Bank of Commerce, 5.960% (SOFR +0.650%), 2/1/2024 | 121,000,000 | |
265,000,000 | Citibank N.A., New York, 5.690% (SOFR +0.380%), 2/1/2024 | 265,000,000 | |
300,000,000 | Citibank N.A., New York, 5.910% (SOFR +0.600%), 2/1/2024 | 300,000,000 | |
100,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 100,000,000 | |
75,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.730% (SOFR +0.420%), 2/1/2024 | 75,000,000 | |
50,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.850% (SOFR +0.540%), 2/1/2024 | 50,000,000 | |
75,000,000 | Collateralized Commercial Paper V Co., LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 75,000,000 | |
60,000,000 | Collateralized Commercial Paper V Co., LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 60,000,000 | |
50,000,000 | Collateralized Commercial Paper V Co., LLC, (J.P. Morgan Securities LLC COL), 5.860% (SOFR +0.550%), 2/1/2024 | 50,000,000 | |
184,000,000 | J.P. Morgan Securities LLC, 5.940% (SOFR +0.630%), 2/1/2024 | 184,000,000 | |
364,000,000 | J.P. Morgan Securities LLC, 5.940% (SOFR +0.630%), 2/1/2024 | 364,000,000 | |
215,000,000 | J.P. Morgan Securities LLC, 5.960% (SOFR +0.650%), 2/1/2024 | 215,000,000 | |
250,000,000 | J.P. Morgan Securities LLC, 5.970% (SOFR +0.660%), 2/1/2024 | 250,000,000 | |
177,500,000 | National Australia Bank Ltd., Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 177,500,000 | |
175,000,000 | National Australia Bank Ltd., Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 175,000,000 | |
150,000,000 | National Australia Bank Ltd., Melbourne, 5.760% (SOFR +0.450%), 2/1/2024 | 150,000,000 | |
200,000,000 | National Australia Bank Ltd., Melbourne, 5.760% (SOFR +0.450%), 2/1/2024 | 200,000,000 | |
275,000,000 | National Australia Bank Ltd., Melbourne, 5.790% (SOFR +0.480%), 2/1/2024 | 275,000,000 | |
220,000,000 | National Bank of Canada, Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 220,000,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 225,000,000 | National Bank of Canada, Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | $ 225,000,000 | |
500,000,000 | National Bank of Canada, Montreal, 5.680% (SOFR +0.370%), 2/1/2024 | 500,000,000 | |
500,000,000 | National Bank of Canada, Montreal, 5.680% (SOFR +0.370%), 2/1/2024 | 500,000,000 | |
100,000,000 | National Bank of Canada, Montreal, 5.680% (SOFR +0.370%), 2/1/2024 | 100,000,000 | |
58,500,000 | Nordea Bank Abp, 5.460% (SOFR +0.150%), 2/1/2024 | 58,500,000 | |
19,670,000 | Osprey Properties Ltd. Partnership, LLP & Nighthawk Properties, LLC, Series 2008, (Wells Fargo Bank, N.A. LOC), 5.440%, 2/1/2024 | 19,670,000 | |
29,435,000 | Panel Rey S.A., Series 2016, (Citibank N.A., New York LOC), 5.530%, 2/1/2024 | 29,435,000 | |
105,000,000 | 2 | Ridgefield Funding Co., LLC Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.280%), 2/1/2024 | 105,000,000 |
175,000,000 | Royal Bank of Canada, New York Branch, 5.910% (SOFR +0.600%), 2/1/2024 | 175,000,000 | |
300,000,000 | State Street Bank and Trust Co., 5.480% (SOFR +0.170%), 2/1/2024 | 300,000,000 | |
100,000,000 | State Street Bank and Trust Co., 5.490% (SOFR +0.180%), 2/1/2024 | 100,000,000 | |
500,000,000 | Toronto Dominion Bank, 5.690% (SOFR +0.380%), 2/1/2024 | 500,000,000 | |
172,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 2/1/2024 | 172,000,000 | |
250,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 250,000,000 | |
255,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 255,000,000 | |
210,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 210,000,000 | |
200,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 200,000,000 | |
155,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 155,000,000 | |
255,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 255,000,000 | |
115,000,000 | Wells Fargo Bank, N.A., 5.960% (SOFR +0.650%), 2/1/2024 | 115,000,000 | |
150,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.760% (SOFR +0.450%), 2/1/2024 | 150,000,000 | |
TOTAL | 12,053,104,997 | ||
Finance - Retail— 1.4% | |||
150,000,000 | Chariot Funding LLC, 5.660% (SOFR +0.350%), 2/1/2024 | 150,000,000 | |
82,500,000 | Old Line Funding, LLC, 5.690% (SOFR +0.380%), 2/1/2024 | 82,500,000 | |
91,500,000 | Old Line Funding, LLC, 5.710% (SOFR +0.400%), 2/1/2024 | 91,500,000 | |
15,000,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 15,000,000 | |
93,500,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 93,500,000 | |
70,000,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 70,000,000 | |
100,000,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 100,000,000 | |
38,000,000 | Sheffield Receivables Co. LLC, 5.610% (SOFR +0.300%), 2/1/2024 | 38,000,000 | |
75,000,000 | Sheffield Receivables Co. LLC, 5.610% (SOFR +0.300%), 2/1/2024 | 75,000,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Retail— continued | |||
$ 32,500,000 | Thunder Bay Funding, LLC, 5.690% (SOFR +0.380%), 2/1/2024 | $ 32,500,000 | |
50,000,000 | Thunder Bay Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 50,000,000 | |
75,000,000 | Thunder Bay Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 75,000,000 | |
73,500,000 | Thunder Bay Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 73,500,000 | |
TOTAL | 946,500,000 | ||
Government Agency— 1.0% | |||
23,100,000 | 12th & Yesler Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/7/2024 | 23,100,000 | |
13,965,000 | 1320 W Jefferson LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/7/2024 | 13,965,000 | |
4,925,000 | Andrew Long Irrevocable Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 4,925,000 | |
7,550,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 7,550,000 | |
29,000,000 | BOZ McKinley Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 29,000,000 | |
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%, 2/1/2024 | 1,995,000 | |
10,545,000 | Callewart Life Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 10,545,000 | |
10,100,000 | Carmel Valley Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 10,100,000 | |
8,010,000 | Chad J. Himmel Irrevocable Trust No.1, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 8,010,000 | |
5,415,000 | Copper Top, LLC, Series 2023, (Federal Home Loan Bank of Topeka LOC), 5.450%, 2/1/2024 | 5,415,000 | |
9,100,000 | CP Canyons WFH, LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 9,100,000 | |
4,820,000 | Dennis Wesley Co., Inc., The Dennis Wesley Co., Inc. Project, (FHLB of Indianapolis LOC), 5.450%, 2/1/2024 | 4,820,000 | |
5,000,000 | Eagle Hesperia 55 II LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 5,000,000 | |
10,100,000 | Encinitas Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 10,100,000 | |
6,130,000 | Frank Dale Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 6,130,000 | |
15,900,000 | Ivy Row at Jax St, LLC, (Federal Home Loan Bank of Atlanta LOC), 5.450%, 2/1/2024 | 15,900,000 | |
14,730,000 | Ivy Row at LA Tech, LLC, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 14,730,000 | |
11,100,000 | Ivy Row at South, LLC, (Federal Home Loan Bank of Atlanta LOC), 5.450%, 2/1/2024 | 11,100,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 13,645,000 | Ivy Row at Southern Miss, LLC, (Federal Home Loan Bank of Atlanta LOC), 5.450%, 2/1/2024 | $ 13,645,000 | |
27,050,000 | J.R. Adventures Insurance Trust, (Federal Home Loan Bank of Topeka LOC), 5.450%, 2/1/2024 | 27,050,000 | |
5,260,000 | JCW 2022 Heritage Trust dated December 13, 2022, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/7/2024 | 5,260,000 | |
5,985,000 | JWM Family Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 5,985,000 | |
4,300,000 | LEO Bethel Place, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 4,300,000 | |
30,200,000 | Mike P. Sturdivant, Sr. Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 30,200,000 | |
5,875,000 | NWD 2017 Family Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/7/2024 | 5,875,000 | |
13,790,000 | Our Family IV, LLC, (Federal Home Loan Bank of Topeka LOC), 5.450%, 2/1/2024 | 13,790,000 | |
35,960,000 | Park Stanton Place LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 35,960,000 | |
5,760,000 | Phenix City, AL Downtown Redevelopment Authority, Series 2013-A, (Federal Home Loan Bank of New York LOC), 5.450%, 2/1/2024 | 5,760,000 | |
21,000,000 | Pittsburg Fox Creek Associates, LP, Series 2011-A, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 21,000,000 | |
24,300,000 | Plaza Fitzsimons Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/7/2024 | 24,300,000 | |
4,815,000 | Public Finance Authority, Series 2015-A Ram Eufaula Hospitality, LLC, (Federal Home Loan Bank of New York LOC), 5.450%, 2/1/2024 | 4,815,000 | |
37,930,000 | RBS Insurance Trust, (Federal Home Loan Bank of Topeka LOC), 5.450%, 2/1/2024 | 37,930,000 | |
6,000,000 | Riverview Project, Series 2021, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 6,000,000 | |
7,020,000 | Robert Kinsala 2009 Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/7/2024 | 7,020,000 | |
28,150,000 | Rohnert Park 668, LP (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 28,150,000 | |
7,600,000 | Sandy Jacobs Irrevocable Insurance Trust, Series 2019, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 7,600,000 | |
22,065,000 | Sendra Family Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 22,065,000 | |
11,260,000 | Shawn R. Trapuzzano Irrevocable Insurance Trust, (Federal Home Loan Bank of Pittsburgh LOC), 5.450%, 2/1/2024 | 11,260,000 | |
4,860,000 | Spingola Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 4,860,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 8,825,000 | Susan D. Travers Heritage Trust, Series 2023, (Federal Home Loan Bank of Topeka LOC), 5.450%, 2/1/2024 | $ 8,825,000 | |
11,110,000 | The CLC Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 11,110,000 | |
2,560,000 | The J.G. Aguirre Master Trust, (Federal Home Loan Bank of Atlanta LOC), 5.450%, 2/1/2024 | 2,560,000 | |
23,765,000 | The Jacob Rosenstein Irrevocable Life Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 23,765,000 | |
13,385,000 | The Jerry L. Hodge and Francis M. Hodge 2018 Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 13,385,000 | |
4,150,000 | The Mary Jane Beauregard Irrevocable Insurance Trust of 2017, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/7/2024 | 4,150,000 | |
4,710,000 | The Mulberry Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 4,710,000 | |
20,330,000 | The Murray D. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/7/2024 | 20,330,000 | |
20,945,000 | The Ray L. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/7/2024 | 20,945,000 | |
16,400,000 | Wingo Family Master Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 16,400,000 | |
TOTAL | 640,490,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $14,074,094,997) | 14,074,094,997 | ||
3 | COMMERCIAL PAPER— 14.5% | ||
Finance - Banking— 8.8% | |||
70,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(HSBC Bank PLC COL), 5.690% (Overnight Banking Fund Rate +0.380%), 5/14/2024 | 70,000,000 | |
251,500,000 | Anglesea Funding LLC, 5.347% - 5.681%, 2/1/2024 - 2/8/2024 | 251,348,822 | |
200,000,000 | ASB Bank Ltd., 5.366%, 2/26/2024 | 199,258,333 | |
235,500,000 | Australia & New Zealand Banking Group, Melbourne, 5.802% - 5.935%, 5/1/2024 - 8/16/2024 | 229,473,244 | |
248,000,000 | Bank of Montreal, 5.980%, 8/1/2024 | 248,000,000 | |
235,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 229,493,167 | |
775,000,000 | BPCE S.A., 5.602%, 3/12/2024 | 770,250,972 | |
612,000,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | 600,228,207 | |
137,500,000 | Citigroup Global Markets, Inc., 5.902%, 5/1/2024 | 135,540,625 | |
376,500,000 | DNB Bank ASA, 5.803%, 4/18/2024 | 371,962,181 | |
60,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.333%, 2/29/2024 | 59,752,200 | |
70,000,000 | Great Bear Funding LLC, (Bank of Nova Scotia, Toronto COL), 5.335%, 2/2/2024 | 69,989,636 |
Principal Amount or Shares | Value | ||
3 | COMMERCIAL PAPER— continued | ||
Finance - Banking— continued | |||
$ 175,000,000 | Matchpoint Finance PLC, (BNP Paribas S.A. LIQ), 5.310%, 2/1/2024 | $ 175,000,000 | |
1,300,000,000 | Nationwide Building Society, 5.324% - 5.326%, 2/8/2024 - 2/12/2024 | 1,298,065,639 | |
120,000,000 | Nordea Bank Abp, 5.796%, 4/19/2024 | 118,537,500 | |
77,500,000 | Podium Funding Trust, 5.614% - 5.731%, 5/17/2024 - 6/10/2024 | 76,099,629 | |
385,000,000 | Royal Bank of Canada, 6.000% - 6.004%, 10/11/2024 - 10/16/2024 | 369,599,297 | |
689,500,000 | Toronto Dominion Bank, 5.801% - 6.004%, 5/16/2024 - 8/23/2024 | 672,240,213 | |
100,000,000 | Victory Receivables Corp., (MUFG Bank, Ltd., LIQ), 5.703%, 2/20/2024 | 99,703,917 | |
TOTAL | 6,044,543,582 | ||
Finance - Commercial— 0.1% | |||
82,000,000 | Atlantic Asset Securitization, LLC, 5.471% - 5.472%, 2/20/2024 - 2/21/2024 | 81,760,616 | |
Finance - Retail— 1.5% | |||
975,000,000 | Chariot Funding LLC, 5.426% - 5.506%, 2/6/2024 - 4/25/2024 | 967,832,786 | |
37,500,000 | Fairway Finance Co., LLC, 5.810%, 4/17/2024 | 37,053,500 | |
TOTAL | 1,004,886,286 | ||
Pharmaceuticals and Health Care— 0.9% | |||
625,000,000 | Eli Lilly & Co., 5.322% - 5.342%, 2/15/2024 - 2/20/2024 | 623,579,388 | |
Sovereign— 3.2% | |||
1,175,000,000 | BNG Bank N.V., 5.337%, 2/7/2024 - 2/13/2024 | 1,173,485,278 | |
400,000,000 | Caisse des Depots et Consignations (CDC), 5.347% - 5.348%, 2/28/2024 - 2/29/2024 | 398,372,917 | |
165,000,000 | Erste Abwicklungsanstalt, 5.359% - 5.363%, 2/15/2024 - 2/20/2024 | 164,620,622 | |
492,500,000 | NRW.Bank, 5.657%, 2/12/2024 | 491,664,802 | |
TOTAL | 2,228,143,619 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $9,982,913,479) | 9,982,913,491 | ||
TIME DEPOSITS— 9.9% | |||
Finance - Banking— 9.9% | |||
3,403,000,000 | ABN Amro Bank N.V., 5.310% - 5.330%, 2/1/2024 - 2/7/2024 | 3,403,000,000 | |
400,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.320%, 2/1/2024 | 400,000,000 | |
2,600,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.320%, 2/1/2024 - 2/7/2024 | 2,600,000,000 | |
425,000,000 | Mizuho Bank, Ltd., 5.330%, 2/1/2024 | 425,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $6,828,000,000) | 6,828,000,000 | ||
U.S. TREASURY— 0.9% | |||
U.S. Treasury Bills— 0.9% | |||
51,000,000 | 4 | United States Treasury Bill, 5.285%, 2/29/2024 | 50,790,362 |
Principal Amount or Shares | Value | ||
U.S. TREASURY— continued | |||
U.S. Treasury Bills— continued | |||
$ 600,000,000 | 4 | United States Treasury Bill, 5.290%, 2/6/2024 | $ 599,559,167 |
TOTAL U.S. TREASURY (IDENTIFIED COST $650,349,528) | 650,349,529 | ||
OTHER REPURCHASE AGREEMENTS— 11.5% | |||
Finance - Banking— 11.5% | |||
515,000,000 | BMO Capital Markets Corp,. 5.41%, dated 1/31/2024, interest in a $550,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $550,082,653 on 2/1/2024, in which asset-backed securities, corporate bonds, collateralized mortgage obligations, sovereign debt and U.S. Government Agency securities with a market value of $561,084,532 have been received as collateral and held with BNY Mellon as tri-party agent. | 515,000,000 | |
35,000,000 | BMO Capital Markets Corp,. 5.46%, dated 1/31/2024, interest in a $35,000,000 collateralized loan agreement will repurchase securities provided as collateral for $35,005,308 on 2/1/2024, in which asset-backed securities, corporate bonds, collateralized mortgage obligations, medium-term notes, sovereign debt and U.S. Government Agency securities with a market value of $35,705,667 have been received as collateral and held with BNY Mellon as tri-party agent. | 35,000,000 | |
100,000,000 | BNP Paribas S.A., 5.46%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,750 on 2/1/2024, in which asset-backed securities and corporate bonds with a market value of $153,023,237 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
876,000,000 | BNP Paribas S.A., 5.39%, dated 1/31/2024, interest in a $1,275,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,275,190,896 on 2/1/2024, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt securities with a market value of $1,300,694,714 have been received as collateral and held with BNY Mellon as tri-party agent. | 876,000,000 | |
150,000,000 | Citigroup Global Markets, Inc., 5.46%, dated 1/31/2024, interest in a $500,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $500,075,833 on 2/1/2024, in which American depositary receipts, common stocks, convertible bond, exchange-traded funds, mutual funds, treasury bills, treasury bonds and treasury notes with a market value of $510,078,106 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
235,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 11/7/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,320,833 on 2/8/2024, in which American depositary receipts, common stocks, treasury bonds and treasury notes with a market value of $307,401,971 have been received as collateral and held with BNY Mellon as tri-party agent. | 235,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 250,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 12/1/2023, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,267,361 on 2/8/2024, in which American depositary receipts, treasury bonds and treasury notes with a market value of $256,168,540 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 250,000,000 | |
750,000,000 | Citigroup Global Markets, Inc., 5.72%, dated 1/11/2024, interest in a $750,000,000 collateralized loan agreement will repurchase securities provided as collateral for $754,170,833 on 3/7/2024, in which American depositary receipts, exchange-traded funds, treasury bonds and treasury notes with a market value of $767,550,127 have been received as collateral and held with BNY Mellon as tri-party agent. | 750,000,000 | |
200,000,000 | Credit Agricole S.A., 5.37%, dated 8/9/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,313,250 on 2/8/2024, in which asset-backed securities and collateralized mortgage obligations with a market value of $306,045,645 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 | |
250,000,000 | Credit Agricole S.A., 5.37%, dated 10/20/2023, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,261,042 on 2/8/2024, in which asset-backed securities and collateralized mortgage obligations with a market value of $255,038,038 have been received as collateral and held with BNY Mellon as tri-party agent | 250,000,000 | |
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 2/8/2024, in which asset-backed securities, corporate bonds and medium-term notes with a market value of $204,030,997 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
100,000,000 | Credit Agricole S.A., 5.37%, dated 2/17/2023, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,104,417 on 2/8/2024, in which collateralized mortgage obligations with a market value of $102,031,037 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
150,000,000 | Credit Agricole S.A., 5.37%, dated 10/19/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,261,042 on 2/8/2024, in which asset-backed securities and collateralized mortgage obligations with a market value of $255,038,038 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
25,000,000 | HSBC Securities (USA), Inc., 5.41%, dated 1/31/2024, interest in a $25,000,000 collateralized loan agreement will repurchase securities provided as collateral for $25,003,757 on 2/1/2024, in which asset-backed securities with a market value of $25,500,001 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 265,000,000 | HSBC Securities (USA), Inc., 5.41%, dated 1/31/2024, interest in a $365,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $365,054,851 on 2/1/2024, in which corporate bonds and medium-term notes with a market value of $372,300,773 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 265,000,000 | |
275,000,000 | ING Financial Markets LLC, 5.39%, dated 1/31/2024, interest in a $275,000,000 collateralized loan agreement will repurchase securities provided as collateral for $275,041,174 on 2/1/2024, in which common stocks and exchange-traded funds with a market value of $280,542,023 have been received as collateral and held with BNY Mellon as tri-party agent. | 275,000,000 | |
740,000,000 | J.P. Morgan Securities LLC, 5.54%, dated 1/18/2024, interest in a $1,000,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,005,386,111 on 2/22/2024, in which corporate bonds and medium-term notes with a market value of $1,020,000,001 have been received as collateral and held with BNY Mellon as tri-party agent. | 740,000,000 | |
65,000,000 | Mizuho Securities USA, Inc., 5.46%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,750 on 2/1/2024, in which convertible bond with a market value of $153,023,355 have been received as collateral and held with BNY Mellon as tri-party agent. | 65,000,000 | |
195,000,000 | Mizuho Securities USA, Inc., 5.91%, dated 2/9/2023, interest in a $200,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $202,002,833 on 3/12/2024, in which convertible bond with a market value of $204,703,290 have been received as collateral and held with BNY Mellon as tri-party agent. | 195,000,000 | |
200,000,000 | Mizuho Securities USA, Inc., 5.91%, dated 1/31/2024, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,037,569 on 2/1/2024, in which asset-backed securities, collateralized mortgage obligations and corporate bond with a market value of $255,038,321 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 | |
351,000,000 | Mitsubishi UFG Securities Americas Inc., 5.46%, dated 1/31/2024, interest in a $400,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $400,060,667 on 2/1/2024, in which asset-backed securities, common stocks, convertible bond, exchange-traded funds and mutual fund with a market value of $408,061,880 have been received as collateral and held with BNY Mellon as tri-party agent. | 351,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 150,000,000 | 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 2/8/2024, in which asset-backed securities, common stocks, collateralized mortgage obligations, corporate bonds, convertible bond, commercial paper, certificates of deposit, exchange-traded funds, medium-term notes, municipal bonds and U.S. Government Agency securities with a market value of $306,210,617 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 150,000,000 | |
50,000,000 | Standard Chartered Bank, 5.38%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,417 on 2/1/2024, in which U.S. Government Agency securities, treasury bond and treasury note with a market value of $153,022,896 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
100,000,000 | Standard Chartered Bank, 5.43%, dated 1/26/2024, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,105,583 on 2/2/2024, in which U.S. Government Agency securities, treasury bills, treasury bonds and treasury notes with a market value of $102,092,336 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
400,000,000 | TD Securities (USA), LLC, 5.39%, dated 1/31/2024, interest in a $500,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $500,074,861 on 2/1/2024, in which corporate bonds, medium-term notes and municipal bonds with a market value of $510,077,188 have been received as collateral and held with BNY Mellon as tri-party agent. | 400,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 5.84%, dated 2/3/2022, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $152,190,000 on 4/8/2024, in which treasury bills with a market value of $153,570,941 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 5.95%, dated 12/12/2023, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $152,132,083 on 3/7/2024, in which convertible bonds with a market value of $154,289,959 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
200,000,000 | Wells Fargo Securities LLC, 5.82%, dated 5/30/2023, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $202,910,000 on 4/25/2024, in which treasury notes with a market value of $204,197,915 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, 5.81%, dated 1/9/2023, interest in a $220,000,000 collateralized loan agreement will repurchase securities provided as collateral for $223,195,500 on 5/1/2024, in which corporate bonds, convertible bonds and sovereign debt securities with a market value of $225,498,761 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 220,000,000 | |
500,000,000 | Wells Fargo Securities LLC, 5.73%, dated 8/14/2023, interest in a $500,000,000 collateralized loan agreement will repurchase securities provided as collateral for $507,162,500 on 4/2/2024, in which asset-backed securities, corporate bonds, commercial paper, certificates of deposit, medium-term notes, municipal bonds and sovereign debt securities with a market value of $512,354,163 have been received as collateral and held with BNY Mellon as tri-party agent. | 500,000,000 | |
140,000,000 | Wells Fargo Securities LLC, 5.73%, dated 5/17/2023, interest in a $140,000,000 collateralized loan agreement will repurchase securities provided as collateral for $142,005,500 on 4/2/2024, in which American depositary receipts, exchange-traded funds, mutual funds, sovereign debt securities and unit investment trust with a market value of $143,460,152 have been received as collateral and held with BNY Mellon as tri-party agent. | 140,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $7,887,000,000) | 7,887,000,000 | ||
REPURCHASE AGREEMENTS— 13.8% | |||
Finance - Banking— 13.8% | |||
500,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Bank of Montreal will repurchase securities provided as collateral for $2,000,295,556 on 2/1/2024. 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 1/20/2073 and the market value of those underlying securities was $2,047,391,893. | 500,000,000 | |
500,000,000 | Interest in $2,500,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Bank of Nova Scotia will repurchase securities provided as collateral for $2,500,369,444 on 2/1/2024. 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 12/1/2053 and the market value of those underlying securities was $2,550,376,843. | 500,000,000 | |
500,000,000 | Interest in $1,150,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,150,169,944 on 2/1/2024. 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 2/16/2064 and the market value of those underlying securities was $1,173,241,613. | 500,000,000 |
Principal Amount or Shares | Value | ||
REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$3,500,000,000 | Repurchase agreement 5.30%, dated 1/31/2024 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $3,500,515,278 on 2/1/2024. 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 11/15/2027 and the market value of those underlying securities was $3,500,515,278. | $ 3,500,000,000 | |
500,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which HSBC Securities (USA), Inc. will repurchase securities provided as collateral for $2,000,295,000 on 2/1/2024. 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 1/1/2054 and the market value of those underlying securities was $2,040,000,000. | 500,000,000 | |
500,000,000 | Interest in $5,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which J.P. Morgan Securities LLC will repurchase securities provided as collateral for $5,000,737,500 on 2/1/2024. 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 10/15/2028 and the market value of those underlying securities was $5,100,000,047. | 500,000,000 | |
500,000,000 | Interest in $1,550,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Mizuho Securities USA, Inc. will repurchase securities provided as collateral for $1,550,229,056 on 2/1/2024. 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 4/16/2062 and the market value of those underlying securities was $1,585,489,519. | 500,000,000 | |
1,000,000,000 | Interest in $5,000,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Morgan Stanley & Co. LLC will repurchase securities provided as collateral for $5,000,738,889 on 2/1/2024. 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 7/1/2061 and the market value of those underlying securities was $5,100,000,000. | 1,000,000,000 | |
500,000,000 | Interest in $1,250,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Mitsubishi UFJ Securities (USA), Inc. will repurchase securities provided as collateral for $1,250,184,722 on 2/1/2024. 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 10/20/2053 and the market value of those underlying securities was $1,287,690,264. | 500,000,000 | |
500,000,000 | Interest in $1,300,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $1,300,192,111 on 2/1/2024. 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 $1,326,195,987. | 500,000,000 |
Principal Amount or Shares | Value | ||
REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 477,480,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 11/20/2051 and the market value of those underlying securities was $3,063,264,328. | $ 477,480,000 | |
500,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 5/15/2048 and the market value of those underlying securities was $3,060,451,433. | 500,000,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $9,477,480,000) | 9,477,480,000 | ||
INVESTMENT COMPANIES— 2.2% | |||
1,000,005,702 | Federated Hermes Institutional Money Market Management, Institutional Shares, 5.45%5 | 999,704,002 | |
500,317,389 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 5.42%5 | 500,320,089 | |
TOTAL INVESTMENT COMPANIES (IDENTIFIED COST $1,500,024,091) | 1,500,024,091 | ||
TOTAL INVESTMENT IN SECURITIES—96.5% (AT AMORTIZED COST)6 | 66,375,362,108 | ||
OTHER ASSETS AND LIABILITIES - NET—3.5%7 | 2,385,245,848 | ||
TOTAL NET ASSETS—100% | $68,760,607,956 |
Federated Hermes Institutional Money Market Management, Institutional Shares | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | Total of Affiliated Transactions | |
Value as of 7/31/2023 | $999,713,001 | $500,320,089 | $1,500,033,090 |
Purchases at Cost | $17,994,600 | $— | $17,994,600 |
Proceeds from Sales | $(18,005,400) | $— | $(18,005,400) |
Change in Unrealized Appreciation/ Depreciation | $— | $— | $— |
Net Realized Gain/(Loss) | $1,801 | $— | $1,801 |
Value as of 1/31/2024 | $999,704,002 | $500,320,089 | $1,500,024,091 |
Shares Held as of 1/31/2024 | 1,000,005,702 | 500,317,389 | 1,500,323,091 |
Dividend Income | $27,462,838 | $13,693,789 | $41,156,627 |
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 January 31, 2024, these restricted securities amounted to $302,000,000, which represented 0.4% of total net assets. |
3 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
4 | Discount rate at time of purchase. |
5 | 7-day net yield. |
6 | Also represents cost of investments for federal tax purposes. |
7 | 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 January 31, 2024, 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: | ||||
Certificates of Deposit | $— | $15,975,500,000 | $— | $15,975,500,000 |
Notes - Variable | — | 14,074,094,997 | — | 14,074,094,997 |
Commercial Paper | — | 9,982,913,491 | — | 9,982,913,491 |
Time Deposits | — | 6,828,000,000 | — | 6,828,000,000 |
U.S. Treasury | — | 650,349,529 | — | 650,349,529 |
Other Repurchase Agreements | — | 7,887,000,000 | — | 7,887,000,000 |
Repurchase Agreements | — | 9,477,480,000 | — | 9,477,480,000 |
Investment Company | 1,500,024,091 | — | — | 1,500,024,091 |
TOTAL SECURITIES | $1,500,024,091 | $64,875,338,017 | $— | $66,375,362,108 |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
CP | —Commercial Paper | |
FHLB | —Federal Home Loan Bank | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
SOFR | —Secured Overnight Financing Rate |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.026 | 0.038 | 0.002 | 0.0002 | 0.010 | 0.020 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | (0.000)2 |
Total From Investment Operations | 0.026 | 0.038 | 0.002 | 0.0002 | 0.010 | 0.020 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.038) | (0.002) | (0.000)2 | (0.010) | (0.020) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.026) | (0.038) | (0.002) | (0.000)2 | (0.010) | (0.020) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.61% | 3.89% | 0.20% | 0.01% | 1.01% | 2.03% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.49%5 | 0.51% | 0.32% | 0.23% | 0.53% | 0.54% |
Net investment income | 5.14%5 | 3.70% | 0.18% | 0.01% | 1.01% | 2.06% |
Expense waiver/reimbursement6 | 0.05%5 | 0.09% | 0.33% | 0.41% | 0.11% | 0.10% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $738,403 | $536,771 | $711,893 | $1,034,830 | $1,603,414 | $1,678,950 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.023 | 0.032 | 0.001 | 0.0002 | 0.006 | 0.014 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
Total From Investment Operations | 0.023 | 0.032 | 0.001 | 0.0002 | 0.006 | 0.014 |
Less Distributions: | ||||||
Distributions from net investment income | (0.023) | (0.032) | (0.001) | (0.000)2 | (0.006) | (0.014) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.023) | (0.032) | (0.001) | (0.000)2 | (0.006) | (0.014) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.29% | 3.24% | 0.08% | 0.01% | 0.56% | 1.42% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 1.11%5 | 1.13% | 0.45% | 0.23% | 0.97% | 1.13% |
Net investment income | 4.51%5 | 3.23% | 0.09% | 0.01% | 0.54% | 1.42% |
Expense waiver/reimbursement6 | 0.10%5 | 0.14% | 0.82% | 1.09% | 0.32% | 0.16% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $50,024 | $48,737 | $41,244 | $38,762 | $48,615 | $44,257 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.027 | 0.041 | 0.003 | 0.0002 | 0.013 | 0.023 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
TOTAL FROM INVESTMENT OPERATIONS | 0.027 | 0.041 | 0.003 | 0.0002 | 0.013 | 0.023 |
Less Distributions: | ||||||
Distributions from net investment income | (0.027) | (0.041) | (0.003) | (0.000)2 | (0.013) | (0.023) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
TOTAL DISTRIBUTIONS | (0.027) | (0.041) | (0.003) | (0.000)2 | (0.013) | (0.023) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.75% | 4.20% | 0.33% | 0.04% | 1.33% | 2.36% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.20%5 | 0.20% | 0.19% | 0.20% | 0.20% | 0.20% |
Net investment income | 5.42%5 | 4.42% | 0.36% | 0.04% | 1.33% | 2.36% |
Expense waiver/ reimbursement6 | 0.05%5 | 0.09% | 0.12% | 0.10% | 0.10% | 0.10% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $59,082,577 | $44,262,167 | $13,928,308 | $11,788,470 | $18,814,127 | $16,862,096 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income2 | 0.027 | 0.041 | 0.003 | 0.0003 | 0.013 | 0.013 |
Net realized gain (loss) | 0.0003 | (0.000)3 | 0.0003 | 0.0003 | 0.0003 | — |
Total From Investment Operations | 0.027 | 0.041 | 0.003 | 0.0003 | 0.013 | 0.013 |
Less Distributions: | ||||||
Distributions from net investment income | (0.027) | (0.041) | (0.003) | (0.000)3 | (0.013) | (0.013) |
Distributions from net realized gains | — | (0.000)3 | (0.000)3 | (0.000)3 | (0.000)3 | — |
Total Distributions | (0.027) | (0.041) | (0.003) | (0.000)3 | (0.013) | (0.013) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return4 | 2.75% | 4.20% | 0.33% | 0.04% | 1.33% | 1.31% |
Ratios to Average Net Assets: | ||||||
Net expenses5 | 0.20%6 | 0.20% | 0.19% | 0.20% | 0.20% | 0.20%6 |
Net investment income | 5.42%6 | 4.42% | 0.75% | 0.04% | 1.32% | 2.39%6 |
Expense waiver/reimbursement7 | 0.05%6 | 0.09% | 0.10% | 0.10% | 0.10% | 0.10%6 |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $3,149,516 | $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 | Per share numbers have 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.026 | 0.039 | 0.002 | 0.0002 | 0.011 | 0.021 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
Total From Investment Operations | 0.026 | 0.039 | 0.002 | 0.0002 | 0.011 | 0.021 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.039) | (0.002) | (0.000)2 | (0.011) | (0.021) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.026) | (0.039) | (0.002) | (0.000)2 | (0.011) | (0.021) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.63% | 3.94% | 0.24% | 0.01% | 1.09% | 2.10% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.45%5 | 0.45% | 0.28% | 0.23% | 0.45% | 0.45% |
Net investment income | 5.17%5 | 4.07% | 0.23% | 0.01% | 1.06% | 2.09% |
Expense waiver/reimbursement6 | 0.05%5 | 0.09% | 0.28% | 0.32% | 0.10% | 0.10% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $3,689,303 | $2,868,424 | $1,479,712 | $1,711,361 | $3,016,273 | $2,757,262 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.024 | 0.034 | 0.001 | 0.0002 | 0.007 | 0.016 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
Total From Investment Operations | 0.024 | 0.034 | 0.001 | 0.0002 | 0.007 | 0.016 |
Less Distributions: | ||||||
Distributions from net investment income | (0.024) | (0.034) | (0.001) | (0.000)2 | (0.007) | (0.016) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.024) | (0.034) | (0.001) | (0.000)2 | (0.007) | (0.016) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.40% | 3.48% | 0.12% | 0.01% | 0.72% | 1.65% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.90%5 | 0.90% | 0.40% | 0.22% | 0.81% | 0.90% |
Net investment income | 4.72%5 | 3.35% | 0.12% | 0.01% | 0.71% | 1.64% |
Expense waiver/reimbursement6 | 0.05%5 | 0.09% | 0.60% | 0.78% | 0.19% | 0.10% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $1,160,958 | $1,061,640 | $1,301,550 | $1,275,933 | $1,125,251 | $1,043,702 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.023 | 0.033 | 0.001 | 0.0002 | 0.006 | 0.015 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
Total From Investment Operations | 0.023 | 0.033 | 0.001 | 0.0002 | 0.006 | 0.015 |
Less Distributions: | ||||||
Distributions from net investment income | (0.023) | (0.033) | (0.001) | (0.000)2 | (0.006) | (0.015) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.023) | (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 | $1.00 |
Total Return3 | 2.33% | 3.34% | 0.09% | 0.01% | 0.62% | 1.51% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 1.04%5 | 1.04% | 0.42% | 0.22% | 0.92% | 1.03% |
Net investment income | 4.58%5 | 3.45% | 0.10% | 0.01% | 0.63% | 1.49% |
Expense waiver/reimbursement6 | 0.15%5 | 0.19% | 0.84% | 1.03% | 0.34% | 0.21% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $95,776 | $72,195 | $42,283 | $42,076 | $33,265 | $32,789 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.027 | 0.040 | 0.003 | 0.0002 | 0.012 | 0.022 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
Total From Investment Operations | 0.027 | 0.040 | 0.003 | 0.0002 | 0.012 | 0.022 |
Less Distributions: | ||||||
Distributions from net investment income | (0.027) | (0.040) | (0.003) | (0.000)2 | (0.012) | (0.022) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.027) | (0.040) | (0.003) | (0.000)2 | (0.012) | (0.022) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.70% | 4.10% | 0.29% | 0.01% | 1.23% | 2.26% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.30%5 | 0.30% | 0.23% | 0.23% | 0.30% | 0.30% |
Net investment income | 5.32%5 | 4.20% | 0.27% | 0.01% | 1.20% | 2.25% |
Expense waiver/reimbursement6 | 0.05%5 | 0.09% | 0.18% | 0.18% | 0.10% | 0.10% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $706,179 | $600,915 | $310,975 | $329,279 | $548,708 | $670,114 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.025 | 0.036 | 0.002 | 0.0002 | 0.009 | 0.018 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
Total From Investment Operations | 0.025 | 0.036 | 0.002 | 0.0002 | 0.009 | 0.018 |
Less Distributions: | ||||||
Distributions from net investment income | (0.025) | (0.036) | (0.002) | (0.000)2 | (0.009) | (0.018) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.025) | (0.036) | (0.002) | (0.000)2 | (0.009) | (0.018) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.51% | 3.69% | 0.17% | 0.01% | 0.87% | 1.85% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.67%5 | 0.69% | 0.33% | 0.23% | 0.66% | 0.70% |
Net investment income | 4.95%5 | 3.97% | 0.12% | 0.01% | 0.86% | 1.90% |
Expense waiver/reimbursement6 | 0.05%5 | 0.09% | 0.47% | 0.57% | 0.14% | 0.10% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $87,872 | $48,449 | $18,172 | $2,670,993 | $3,667,951 | $3,502,863 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $17,364,480,000 |
Investment in securities, including $1,500,024,091 of investment in affiliated holdings* | 49,010,882,108 |
Investment in securities, at amortized cost and fair value | 66,375,362,108 |
Cash | 2,000,255,723 |
Income receivable | 311,134,297 |
Income receivable from affiliated holdings | 6,935,855 |
Receivable for shares sold | 287,028,755 |
Total Assets | 68,980,716,738 |
Liabilities: | |
Payable for investments purchased | 8,100,000 |
Payable for shares redeemed | 201,553,539 |
Income distribution payable | 7,049,420 |
Payable for investment adviser fee (Note 5) | 209,593 |
Payable for administrative fee (Note 5) | 145,159 |
Payable for Directors’/Trustees’ fees (Note 5) | 49,770 |
Payable for custodian fees | 606,874 |
Payable for distribution services fee (Note 5) | 420,382 |
Payable for other service fees (Notes 2 and 5) | 1,416,517 |
Accrued expenses (Note 5) | 557,528 |
Total Liabilities | 220,108,782 |
Net assets for 68,764,180,899 shares outstanding | $68,760,607,956 |
Net Assets Consist of: | |
Paid-in capital | $68,764,172,083 |
Total distributable earnings (loss) | (3,564,127) |
Total Net Assets | $68,760,607,956 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$738,403,195 ÷ 738,441,518 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Class R Shares: | |
$50,024,000 ÷ 50,026,599 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Wealth Shares: | |
$59,082,576,581 ÷ 59,085,645,815 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$3,149,516,356 ÷ 3,149,681,125 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$3,689,303,455 ÷ 3,689,495,195 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$1,160,958,290 ÷ 1,161,018,706 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$95,775,515 ÷ 95,780,503 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$706,178,672 ÷ 706,215,163 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$87,871,892 ÷ 87,876,275 shares outstanding, no par value, unlimited shares authorized | $1.00 |
* | See information listed after the Fund’s Portfolio of Investments. |
Investment Income: | |
Interest | $1,688,603,624 |
Dividends received from affiliated holdings* | 41,156,627 |
TOTAL INCOME | 1,729,760,251 |
Expenses: | |
Investment adviser fee (Note 5) | 50,046,608 |
Administrative fee (Note 5) | 23,948,911 |
Custodian fees | 867,242 |
Transfer agent fees (Note 2) | 1,013,857 |
Directors’/Trustees’ fees (Note 5) | 126,903 |
Auditing fees | 13,070 |
Legal fees | 5,282 |
Portfolio accounting fees | 136,644 |
Distribution services fee (Note 5) | 2,430,183 |
Other service fees (Notes 2 and 5) | 6,959,561 |
Share registration costs | 1,215,254 |
Printing and postage | 340,533 |
Miscellaneous (Note 5) | 102,799 |
TOTAL EXPENSES | 87,206,847 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (15,256,015) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (54,190) |
TOTAL WAIVERS AND REIMBURSEMENTS | (15,310,205) |
Net expenses | 71,896,642 |
Net investment income | 1,657,863,609 |
Net realized gain on investments in affiliated holdings* | 1,801 |
Change in net assets resulting from operations | $1,657,865,410 |
* | See information listed after the Fund’s Portfolio of Investments. |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $1,657,863,609 | $1,590,053,947 |
Net realized gain (loss) | 1,801 | (3,561,476) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 1,657,865,410 | 1,586,492,471 |
Distributions to Shareholders: | ||
Automated Shares | (16,344,223) | (24,227,826) |
Class R Shares | (1,137,229) | (1,415,396) |
Wealth Shares | (1,415,415,717) | (1,314,807,011) |
Advisor Shares | (90,596,894) | (105,829,942) |
Service Shares | (86,442,441) | (82,982,235) |
Cash II Shares | (26,673,680) | (37,391,710) |
Cash Series Shares | (1,903,704) | (1,786,237) |
Capital Shares | (17,801,525) | (20,426,106) |
Trust Shares | (1,548,877) | (1,355,868) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (1,657,864,290) | (1,590,222,331) |
Share Transactions: | ||
Proceeds from sale of shares | 45,243,617,044 | 77,865,463,389 |
Net asset value of shares issued to shareholders in payment of distributions declared | 1,609,420,269 | 1,518,646,831 |
Cost of shares redeemed | (30,880,628,605) | (45,452,793,697) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 15,972,408,708 | 33,931,316,523 |
Change in net assets | 15,972,409,828 | 33,927,586,663 |
Net Assets: | ||
Beginning of period | 52,788,198,128 | 18,860,611,465 |
End of period | $68,760,607,956 | $52,788,198,128 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Automated Shares | $102,614 | $— |
Class R Shares | 53,523 | — |
Wealth Shares | 252,180 | (26) |
Advisor Shares | 16,207 | — |
Service Shares | 16,154 | — |
Cash II Shares | 533,723 | — |
Cash Series Shares | 35,915 | (3) |
Capital Shares | 3,241 | — |
Trust Shares | 300 | — |
TOTAL | $1,013,857 | $(29) |
Other Service Fees Incurred | |
Automated Shares | $795,512 |
Class R Shares | 62,260 |
Service Shares | 4,182,370 |
Cash II Shares | 1,411,810 |
Cash Series Shares | 103,873 |
Capital Shares | 334,861 |
Trust Shares | 68,875 |
TOTAL | $6,959,561 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 512,654,678 | $512,654,678 | 877,004,828 | $877,004,828 |
Shares issued to shareholders in payment of distributions declared | 16,183,644 | 16,183,644 | 23,720,180 | 23,720,180 |
Shares redeemed | (327,203,741) | (327,203,741) | (1,075,804,759) | (1,075,804,759) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | 201,634,581 | $201,634,581 | (175,079,751) | $(175,079,751) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Class R Shares: | Shares | Amount | Shares | Amount |
Shares sold | 6,426,447 | $6,426,447 | 34,129,153 | $34,129,153 |
Shares issued to shareholders in payment of distributions declared | 1,132,733 | 1,132,733 | 1,409,332 | 1,409,332 |
Shares redeemed | (6,273,103) | (6,273,103) | (28,042,086) | (28,042,086) |
NET CHANGE RESULTING FROM CLASS R SHARE TRANSACTIONS | 1,286,077 | $1,286,077 | 7,496,399 | $7,496,399 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | 38,941,839,136 | $38,941,839,136 | 64,964,614,365 | $64,964,614,365 |
Shares issued to shareholders in payment of distributions declared | 1,371,507,174 | 1,371,507,174 | 1,250,686,292 | 1,250,686,292 |
Shares redeemed | (25,492,864,744) | (25,492,864,744) | (35,878,329,216) | (35,878,329,216) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | 14,820,481,566 | $14,820,481,566 | 30,336,971,441 | $30,336,971,441 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Advisor Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,512,397,786 | $2,512,397,786 | 6,152,436,887 | $6,152,436,887 |
Shares issued to shareholders in payment of distributions declared | 90,595,947 | 90,595,947 | 105,829,739 | 105,829,739 |
Shares redeemed | (2,742,435,542) | (2,742,435,542) | (3,995,611,046) | (3,995,611,046) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | (139,441,809) | $(139,441,809) | 2,262,655,580 | $2,262,655,580 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,284,327,064 | $2,284,327,064 | 4,235,413,542 | $4,235,413,542 |
Shares issued to shareholders in payment of distributions declared | 83,544,398 | 83,544,398 | 78,436,333 | 78,436,333 |
Shares redeemed | (1,546,994,207) | (1,546,994,207) | (2,924,931,444) | (2,924,931,444) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 820,877,255 | $820,877,255 | 1,388,918,431 | $1,388,918,431 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 372,002,661 | $372,002,661 | 495,313,546 | $495,313,546 |
Shares issued to shareholders in payment of distributions declared | 26,310,621 | 26,310,621 | 36,553,414 | 36,553,414 |
Shares redeemed | (299,006,466) | (299,006,466) | (771,694,021) | (771,694,021) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | 99,306,816 | $99,306,816 | (239,827,061) | $(239,827,061) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 71,761,814 | $71,761,814 | 128,212,272 | $128,212,272 |
Shares issued to shareholders in payment of distributions declared | 1,878,143 | 1,878,143 | 1,736,731 | 1,736,731 |
Shares redeemed | (50,059,413) | (50,059,413) | (100,031,296) | (100,031,296) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 23,580,544 | $23,580,544 | 29,917,707 | $29,917,707 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 410,472,011 | $410,472,011 | 873,403,036 | $873,403,036 |
Shares issued to shareholders in payment of distributions declared | 16,733,890 | 16,733,890 | 18,933,076 | 18,933,076 |
Shares redeemed | (321,946,629) | (321,946,629) | (602,352,249) | (602,352,249) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 105,259,272 | $105,259,272 | 289,983,863 | $289,983,863 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 131,735,447 | $131,735,447 | 104,935,760 | $104,935,760 |
Shares issued to shareholders in payment of distributions declared | 1,533,719 | 1,533,719 | 1,341,734 | 1,341,734 |
Shares redeemed | (93,844,760) | (93,844,760) | (75,997,580) | (75,997,580) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | 39,424,406 | $39,424,406 | 30,279,914 | $30,279,914 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 15,972,408,708 | $15,972,408,708 | 33,931,316,523 | $33,931,316,523 |
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 | $126,123 | $(12,612) |
Cash II Shares | 1,976,534 | — |
Cash Series Shares | 249,295 | (41,549) |
Trust Shares | 78,231 | — |
TOTAL | $2,430,183 | $(54,161) |
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual: | |||
Automated Shares | $1,000 | $1,026.10 | $2.50 |
Class R Shares | $1,000 | $1,022.90 | $5.64 |
Wealth Shares | $1,000 | $1,027.50 | $1.02 |
Advisor Shares | $1,000 | $1,027.50 | $1.02 |
Service Shares | $1,000 | $1,026.30 | $2.29 |
Cash II Shares | $1,000 | $1,024.00 | $4.58 |
Cash Series Shares | $1,000 | $1,023.30 | $5.29 |
Capital Shares | $1,000 | $1,027.00 | $1.53 |
Trust Shares | $1,000 | $1,025.10 | $3.41 |
Hypothetical (assuming a 5% return before expenses): | |||
Automated Shares | $1,000 | $1,022.67 | $2.49 |
Class R Shares | $1,000 | $1,019.56 | $5.63 |
Wealth Shares | $1,000 | $1,024.13 | $1.02 |
Advisor Shares | $1,000 | $1,024.13 | $1.02 |
Service Shares | $1,000 | $1,022.87 | $2.29 |
Cash II Shares | $1,000 | $1,020.61 | $4.57 |
Cash Series Shares | $1,000 | $1,019.91 | $5.28 |
Capital Shares | $1,000 | $1,023.63 | $1.53 |
Trust Shares | $1,000 | $1,021.77 | $3.41 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Automated Shares | 0.49% |
Class R Shares | 1.11% |
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 | 0.67% |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/fhilogok11p.jpg)
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
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/img6a0010cc1.gif)
Share Class | Ticker | Wealth | PCOXX |
Federated Hermes Prime Cash Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Bank Instruments | 33.1% |
Variable Rate Instruments | 20.5% |
Commercial Paper | 14.5% |
U.S. Treasury Securities | 0.9% |
Other Repurchase Agreements and Repurchase Agreements | 25.3% |
Cash Equivalent2 | 2.2% |
Other Assets and Liabilities—Net3 | 3.5% |
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 | 64.7% |
8-30 Days | 9.1% |
31-90 Days | 11.8% |
91-180 Days | 5.1% |
181 Days or more | 5.8% |
Other Assets and Liabilities—Net3 | 3.5% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Overnight securities comprised 25.3% 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 | ||
CERTIFICATES OF DEPOSIT— 23.2% | |||
Finance - Banking— 23.2% | |||
$1,361,000,000 | Bank of America N.A., 5.180% - 6.000%, 5/28/2024 - 1/24/2025 | $ 1,361,000,000 | |
217,500,000 | Bank of America N.A., 5.440% - 6.000%, 2/7/2024 - 9/23/2024 | 217,500,000 | |
67,500,000 | Bank of Montreal, 5.820%, 5/28/2024 | 67,500,000 | |
304,000,000 | Bank of Nova Scotia, Toronto, 6.000%, 10/3/2024 - 10/18/2024 | 304,000,000 | |
111,000,000 | BMO Bank N.A., 6.000%, 9/9/2024 | 111,000,000 | |
849,500,000 | Canadian Imperial Bank of Commerce, 5.250% - 6.000%, 2/5/2024 - 10/17/2024 | 849,500,000 | |
1,235,000,000 | Citibank N.A., New York, 5.740% - 6.010%, 7/22/2024 - 9/18/2024 | 1,235,000,000 | |
2,530,000,000 | Credit Agricole Corporate and Investment Bank, 5.320% - 5.690%, 2/1/2024 - 2/7/2024 | 2,530,000,000 | |
545,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.710% - 5.800%, 4/24/2024 - 5/17/2024 | 545,000,000 | |
2,520,000,000 | Mizuho Bank Ltd., 5.430% - 5.750%, 2/2/2024 - 4/17/2024 | 2,520,000,000 | |
1,907,500,000 | MUFG Bank Ltd., 5.500% - 5.750%, 2/14/2024 - 3/28/2024 | 1,907,500,000 | |
2,713,500,000 | Sumitomo Mitsui Trust Bank Ltd., 5.450% - 5.700%, 2/5/2024 - 4/18/2024 | 2,713,500,000 | |
575,000,000 | Svenska Handelsbanken, Stockholm, 5.800%, 4/4/2024 - 4/17/2024 | 575,000,000 | |
1,039,000,000 | Toronto Dominion Bank 5.440% - 6.050%, 2/13/2024 - 10/17/2024 | 1,039,000,000 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $15,975,500,000) | 15,975,500,000 | ||
1 | NOTES - VARIABLE— 20.5% | ||
Aerospace/Auto— 0.6% | |||
434,000,000 | Toyota Motor Credit Corp., (Toyota Motor Corp. S.A.), 5.810% (SOFR +0.500%), 2/1/2024 | 434,000,000 | |
Finance - Banking— 17.5% | |||
145,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 145,000,000 | |
275,000,000 | Bank of America N.A., 5.660% (SOFR +0.350%), 2/1/2024 | 275,000,000 | |
250,000,000 | Bank of America N.A., 5.840% (SOFR +0.530%), 2/1/2024 | 250,000,000 | |
200,000,000 | Bank of America N.A., 5.930% (SOFR +0.620%), 2/1/2024 | 200,000,000 | |
250,000,000 | Bank of America N.A., 5.930% (SOFR +0.620%), 2/1/2024 | 250,000,000 | |
175,000,000 | Bank of Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 175,000,000 | |
425,000,000 | Bank of Montreal, 5.690% (SOFR +0.380%), 2/1/2024 | 425,000,000 | |
250,000,000 | Bank of Montreal, 5.780% (SOFR +0.470%), 2/1/2024 | 250,000,000 | |
515,000,000 | Bank of Montreal, 5.820% (SOFR +0.510%), 2/1/2024 | 515,000,000 | |
165,000,000 | Bank of Montreal, 5.910% (SOFR +0.600%), 2/1/2024 | 165,000,000 | |
52,500,000 | Bank of Montreal, 5.990% (SOFR +0.680%), 2/1/2024 | 52,500,000 | |
75,000,000 | Bank of Nova Scotia, Toronto, 5.620% (SOFR +0.310%), 2/1/2024 | 75,000,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 175,000,000 | Bank of Nova Scotia, Toronto, 5.690% (SOFR +0.380%), 2/1/2024 | $ 175,000,000 | |
218,000,000 | Bank of Nova Scotia, Toronto, 5.690% (SOFR +0.380%), 2/1/2024 | 218,000,000 | |
90,000,000 | Bank of Nova Scotia, Toronto, 5.720% (SOFR +0.410%), 2/1/2024 | 89,999,997 | |
250,000,000 | Bank of Nova Scotia, Toronto, 5.820% (SOFR +0.510%), 2/1/2024 | 250,000,000 | |
147,000,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.650%), 2/1/2024 | 147,000,000 | |
197,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.970% (SOFR +0.660%), 2/1/2024 | 197,000,000 |
200,000,000 | Canadian Imperial Bank of Commerce, 5.820% (SOFR +0.510%), 2/1/2024 | 200,000,000 | |
317,500,000 | Canadian Imperial Bank of Commerce, 5.960% (SOFR +0.650%), 2/1/2024 | 317,500,000 | |
121,000,000 | Canadian Imperial Bank of Commerce, 5.960% (SOFR +0.650%), 2/1/2024 | 121,000,000 | |
265,000,000 | Citibank N.A., New York, 5.690% (SOFR +0.380%), 2/1/2024 | 265,000,000 | |
300,000,000 | Citibank N.A., New York, 5.910% (SOFR +0.600%), 2/1/2024 | 300,000,000 | |
100,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 100,000,000 | |
75,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.730% (SOFR +0.420%), 2/1/2024 | 75,000,000 | |
50,000,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.850% (SOFR +0.540%), 2/1/2024 | 50,000,000 | |
75,000,000 | Collateralized Commercial Paper V Co., LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 75,000,000 | |
60,000,000 | Collateralized Commercial Paper V Co., LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 60,000,000 | |
50,000,000 | Collateralized Commercial Paper V Co., LLC, (J.P. Morgan Securities LLC COL), 5.860% (SOFR +0.550%), 2/1/2024 | 50,000,000 | |
184,000,000 | J.P. Morgan Securities LLC, 5.940% (SOFR +0.630%), 2/1/2024 | 184,000,000 | |
364,000,000 | J.P. Morgan Securities LLC, 5.940% (SOFR +0.630%), 2/1/2024 | 364,000,000 | |
215,000,000 | J.P. Morgan Securities LLC, 5.960% (SOFR +0.650%), 2/1/2024 | 215,000,000 | |
250,000,000 | J.P. Morgan Securities LLC, 5.970% (SOFR +0.660%), 2/1/2024 | 250,000,000 | |
177,500,000 | National Australia Bank Ltd., Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 177,500,000 | |
175,000,000 | National Australia Bank Ltd., Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 175,000,000 | |
150,000,000 | National Australia Bank Ltd., Melbourne, 5.760% (SOFR +0.450%), 2/1/2024 | 150,000,000 | |
200,000,000 | National Australia Bank Ltd., Melbourne, 5.760% (SOFR +0.450%), 2/1/2024 | 200,000,000 | |
275,000,000 | National Australia Bank Ltd., Melbourne, 5.790% (SOFR +0.480%), 2/1/2024 | 275,000,000 | |
220,000,000 | National Bank of Canada, Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 220,000,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 225,000,000 | National Bank of Canada, Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | $ 225,000,000 | |
500,000,000 | National Bank of Canada, Montreal, 5.680% (SOFR +0.370%), 2/1/2024 | 500,000,000 | |
500,000,000 | National Bank of Canada, Montreal, 5.680% (SOFR +0.370%), 2/1/2024 | 500,000,000 | |
100,000,000 | National Bank of Canada, Montreal, 5.680% (SOFR +0.370%), 2/1/2024 | 100,000,000 | |
58,500,000 | Nordea Bank Abp, 5.460% (SOFR +0.150%), 2/1/2024 | 58,500,000 | |
19,670,000 | Osprey Properties Ltd. Partnership, LLP & Nighthawk Properties, LLC, Series 2008, (Wells Fargo Bank, N.A. LOC), 5.440%, 2/1/2024 | 19,670,000 | |
29,435,000 | Panel Rey S.A., Series 2016, (Citibank N.A., New York LOC), 5.530%, 2/1/2024 | 29,435,000 | |
105,000,000 | 2 | Ridgefield Funding Co., LLC Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.280%), 2/1/2024 | 105,000,000 |
175,000,000 | Royal Bank of Canada, New York Branch, 5.910% (SOFR +0.600%), 2/1/2024 | 175,000,000 | |
300,000,000 | State Street Bank and Trust Co., 5.480% (SOFR +0.170%), 2/1/2024 | 300,000,000 | |
100,000,000 | State Street Bank and Trust Co., 5.490% (SOFR +0.180%), 2/1/2024 | 100,000,000 | |
500,000,000 | Toronto Dominion Bank, 5.690% (SOFR +0.380%), 2/1/2024 | 500,000,000 | |
172,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 2/1/2024 | 172,000,000 | |
250,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 250,000,000 | |
255,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 255,000,000 | |
210,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 210,000,000 | |
200,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 200,000,000 | |
155,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 155,000,000 | |
255,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 255,000,000 | |
115,000,000 | Wells Fargo Bank, N.A., 5.960% (SOFR +0.650%), 2/1/2024 | 115,000,000 | |
150,000,000 | Westpac Banking Corp. Ltd., Sydney, 5.760% (SOFR +0.450%), 2/1/2024 | 150,000,000 | |
TOTAL | 12,053,104,997 | ||
Finance - Retail— 1.4% | |||
150,000,000 | Chariot Funding LLC, 5.660% (SOFR +0.350%), 2/1/2024 | 150,000,000 | |
82,500,000 | Old Line Funding, LLC, 5.690% (SOFR +0.380%), 2/1/2024 | 82,500,000 | |
91,500,000 | Old Line Funding, LLC, 5.710% (SOFR +0.400%), 2/1/2024 | 91,500,000 | |
15,000,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 15,000,000 | |
93,500,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 93,500,000 | |
70,000,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 70,000,000 | |
100,000,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 100,000,000 | |
38,000,000 | Sheffield Receivables Co. LLC, 5.610% (SOFR +0.300%), 2/1/2024 | 38,000,000 | |
75,000,000 | Sheffield Receivables Co. LLC, 5.610% (SOFR +0.300%), 2/1/2024 | 75,000,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Retail— continued | |||
$ 32,500,000 | Thunder Bay Funding, LLC, 5.690% (SOFR +0.380%), 2/1/2024 | $ 32,500,000 | |
50,000,000 | Thunder Bay Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 50,000,000 | |
75,000,000 | Thunder Bay Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 75,000,000 | |
73,500,000 | Thunder Bay Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 73,500,000 | |
TOTAL | 946,500,000 | ||
Government Agency— 1.0% | |||
23,100,000 | 12th & Yesler Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/7/2024 | 23,100,000 | |
13,965,000 | 1320 W Jefferson LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/7/2024 | 13,965,000 | |
4,925,000 | Andrew Long Irrevocable Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 4,925,000 | |
7,550,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 7,550,000 | |
29,000,000 | BOZ McKinley Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 29,000,000 | |
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%, 2/1/2024 | 1,995,000 | |
10,545,000 | Callewart Life Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 10,545,000 | |
10,100,000 | Carmel Valley Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 10,100,000 | |
8,010,000 | Chad J. Himmel Irrevocable Trust No.1, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 8,010,000 | |
5,415,000 | Copper Top, LLC, Series 2023, (Federal Home Loan Bank of Topeka LOC), 5.450%, 2/1/2024 | 5,415,000 | |
9,100,000 | CP Canyons WFH, LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 9,100,000 | |
4,820,000 | Dennis Wesley Co., Inc., The Dennis Wesley Co., Inc. Project, (FHLB of Indianapolis LOC), 5.450%, 2/1/2024 | 4,820,000 | |
5,000,000 | Eagle Hesperia 55 II LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 5,000,000 | |
10,100,000 | Encinitas Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 10,100,000 | |
6,130,000 | Frank Dale Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 6,130,000 | |
15,900,000 | Ivy Row at Jax St, LLC, (Federal Home Loan Bank of Atlanta LOC), 5.450%, 2/1/2024 | 15,900,000 | |
14,730,000 | Ivy Row at LA Tech, LLC, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 14,730,000 | |
11,100,000 | Ivy Row at South, LLC, (Federal Home Loan Bank of Atlanta LOC), 5.450%, 2/1/2024 | 11,100,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 13,645,000 | Ivy Row at Southern Miss, LLC, (Federal Home Loan Bank of Atlanta LOC), 5.450%, 2/1/2024 | $ 13,645,000 | |
27,050,000 | J.R. Adventures Insurance Trust, (Federal Home Loan Bank of Topeka LOC), 5.450%, 2/1/2024 | 27,050,000 | |
5,260,000 | JCW 2022 Heritage Trust dated December 13, 2022, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/7/2024 | 5,260,000 | |
5,985,000 | JWM Family Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 5,985,000 | |
4,300,000 | LEO Bethel Place, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 4,300,000 | |
30,200,000 | Mike P. Sturdivant, Sr. Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 30,200,000 | |
5,875,000 | NWD 2017 Family Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/7/2024 | 5,875,000 | |
13,790,000 | Our Family IV, LLC, (Federal Home Loan Bank of Topeka LOC), 5.450%, 2/1/2024 | 13,790,000 | |
35,960,000 | Park Stanton Place LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 35,960,000 | |
5,760,000 | Phenix City, AL Downtown Redevelopment Authority, Series 2013-A, (Federal Home Loan Bank of New York LOC), 5.450%, 2/1/2024 | 5,760,000 | |
21,000,000 | Pittsburg Fox Creek Associates, LP, Series 2011-A, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 21,000,000 | |
24,300,000 | Plaza Fitzsimons Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/7/2024 | 24,300,000 | |
4,815,000 | Public Finance Authority, Series 2015-A Ram Eufaula Hospitality, LLC, (Federal Home Loan Bank of New York LOC), 5.450%, 2/1/2024 | 4,815,000 | |
37,930,000 | RBS Insurance Trust, (Federal Home Loan Bank of Topeka LOC), 5.450%, 2/1/2024 | 37,930,000 | |
6,000,000 | Riverview Project, Series 2021, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 6,000,000 | |
7,020,000 | Robert Kinsala 2009 Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/7/2024 | 7,020,000 | |
28,150,000 | Rohnert Park 668, LP (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 28,150,000 | |
7,600,000 | Sandy Jacobs Irrevocable Insurance Trust, Series 2019, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 7,600,000 | |
22,065,000 | Sendra Family Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 22,065,000 | |
11,260,000 | Shawn R. Trapuzzano Irrevocable Insurance Trust, (Federal Home Loan Bank of Pittsburgh LOC), 5.450%, 2/1/2024 | 11,260,000 | |
4,860,000 | Spingola Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 4,860,000 |
Principal Amount or Shares | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 8,825,000 | Susan D. Travers Heritage Trust, Series 2023, (Federal Home Loan Bank of Topeka LOC), 5.450%, 2/1/2024 | $ 8,825,000 | |
11,110,000 | The CLC Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 11,110,000 | |
2,560,000 | The J.G. Aguirre Master Trust, (Federal Home Loan Bank of Atlanta LOC), 5.450%, 2/1/2024 | 2,560,000 | |
23,765,000 | The Jacob Rosenstein Irrevocable Life Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 23,765,000 | |
13,385,000 | The Jerry L. Hodge and Francis M. Hodge 2018 Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 13,385,000 | |
4,150,000 | The Mary Jane Beauregard Irrevocable Insurance Trust of 2017, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/7/2024 | 4,150,000 | |
4,710,000 | The Mulberry Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 4,710,000 | |
20,330,000 | The Murray D. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/7/2024 | 20,330,000 | |
20,945,000 | The Ray L. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/7/2024 | 20,945,000 | |
16,400,000 | Wingo Family Master Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 16,400,000 | |
TOTAL | 640,490,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $14,074,094,997) | 14,074,094,997 | ||
3 | COMMERCIAL PAPER— 14.5% | ||
Finance - Banking— 8.8% | |||
70,000,000 | Anglesea Funding LLC, (Bank of Nova Scotia, Toronto COL)/(HSBC Bank PLC COL), 5.690% (Overnight Banking Fund Rate +0.380%), 5/14/2024 | 70,000,000 | |
251,500,000 | Anglesea Funding LLC, 5.347% - 5.681%, 2/1/2024 - 2/8/2024 | 251,348,822 | |
200,000,000 | ASB Bank Ltd., 5.366%, 2/26/2024 | 199,258,333 | |
235,500,000 | Australia & New Zealand Banking Group, Melbourne, 5.802% - 5.935%, 5/1/2024 - 8/16/2024 | 229,473,244 | |
248,000,000 | Bank of Montreal, 5.980%, 8/1/2024 | 248,000,000 | |
235,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 229,493,167 | |
775,000,000 | BPCE S.A., 5.602%, 3/12/2024 | 770,250,972 | |
612,000,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | 600,228,207 | |
137,500,000 | Citigroup Global Markets, Inc., 5.902%, 5/1/2024 | 135,540,625 | |
376,500,000 | DNB Bank ASA, 5.803%, 4/18/2024 | 371,962,181 | |
60,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.333%, 2/29/2024 | 59,752,200 | |
70,000,000 | Great Bear Funding LLC, (Bank of Nova Scotia, Toronto COL), 5.335%, 2/2/2024 | 69,989,636 |
Principal Amount or Shares | Value | ||
3 | COMMERCIAL PAPER— continued | ||
Finance - Banking— continued | |||
$ 175,000,000 | Matchpoint Finance PLC, (BNP Paribas S.A. LIQ), 5.310%, 2/1/2024 | $ 175,000,000 | |
1,300,000,000 | Nationwide Building Society, 5.324% - 5.326%, 2/8/2024 - 2/12/2024 | 1,298,065,639 | |
120,000,000 | Nordea Bank Abp, 5.796%, 4/19/2024 | 118,537,500 | |
77,500,000 | Podium Funding Trust, 5.614% - 5.731%, 5/17/2024 - 6/10/2024 | 76,099,629 | |
385,000,000 | Royal Bank of Canada, 6.000% - 6.004%, 10/11/2024 - 10/16/2024 | 369,599,297 | |
689,500,000 | Toronto Dominion Bank, 5.801% - 6.004%, 5/16/2024 - 8/23/2024 | 672,240,213 | |
100,000,000 | Victory Receivables Corp., (MUFG Bank, Ltd., LIQ), 5.703%, 2/20/2024 | 99,703,917 | |
TOTAL | 6,044,543,582 | ||
Finance - Commercial— 0.1% | |||
82,000,000 | Atlantic Asset Securitization, LLC, 5.471% - 5.472%, 2/20/2024 - 2/21/2024 | 81,760,616 | |
Finance - Retail— 1.5% | |||
975,000,000 | Chariot Funding LLC, 5.426% - 5.506%, 2/6/2024 - 4/25/2024 | 967,832,786 | |
37,500,000 | Fairway Finance Co., LLC, 5.810%, 4/17/2024 | 37,053,500 | |
TOTAL | 1,004,886,286 | ||
Pharmaceuticals and Health Care— 0.9% | |||
625,000,000 | Eli Lilly & Co., 5.322% - 5.342%, 2/15/2024 - 2/20/2024 | 623,579,388 | |
Sovereign— 3.2% | |||
1,175,000,000 | BNG Bank N.V., 5.337%, 2/7/2024 - 2/13/2024 | 1,173,485,278 | |
400,000,000 | Caisse des Depots et Consignations (CDC), 5.347% - 5.348%, 2/28/2024 - 2/29/2024 | 398,372,917 | |
165,000,000 | Erste Abwicklungsanstalt, 5.359% - 5.363%, 2/15/2024 - 2/20/2024 | 164,620,622 | |
492,500,000 | NRW.Bank, 5.657%, 2/12/2024 | 491,664,802 | |
TOTAL | 2,228,143,619 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $9,982,913,479) | 9,982,913,491 | ||
TIME DEPOSITS— 9.9% | |||
Finance - Banking— 9.9% | |||
3,403,000,000 | ABN Amro Bank N.V., 5.310% - 5.330%, 2/1/2024 - 2/7/2024 | 3,403,000,000 | |
400,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.320%, 2/1/2024 | 400,000,000 | |
2,600,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.320%, 2/1/2024 - 2/7/2024 | 2,600,000,000 | |
425,000,000 | Mizuho Bank, Ltd., 5.330%, 2/1/2024 | 425,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $6,828,000,000) | 6,828,000,000 | ||
U.S. TREASURY— 0.9% | |||
U.S. Treasury Bills— 0.9% | |||
51,000,000 | 4 | United States Treasury Bill, 5.285%, 2/29/2024 | 50,790,362 |
Principal Amount or Shares | Value | ||
U.S. TREASURY— continued | |||
U.S. Treasury Bills— continued | |||
$ 600,000,000 | 4 | United States Treasury Bill, 5.290%, 2/6/2024 | $ 599,559,167 |
TOTAL U.S. TREASURY (IDENTIFIED COST $650,349,528) | 650,349,529 | ||
OTHER REPURCHASE AGREEMENTS— 11.5% | |||
Finance - Banking— 11.5% | |||
515,000,000 | BMO Capital Markets Corp,. 5.41%, dated 1/31/2024, interest in a $550,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $550,082,653 on 2/1/2024, in which asset-backed securities, corporate bonds, collateralized mortgage obligations, sovereign debt and U.S. Government Agency securities with a market value of $561,084,532 have been received as collateral and held with BNY Mellon as tri-party agent. | 515,000,000 | |
35,000,000 | BMO Capital Markets Corp,. 5.46%, dated 1/31/2024, interest in a $35,000,000 collateralized loan agreement will repurchase securities provided as collateral for $35,005,308 on 2/1/2024, in which asset-backed securities, corporate bonds, collateralized mortgage obligations, medium-term notes, sovereign debt and U.S. Government Agency securities with a market value of $35,705,667 have been received as collateral and held with BNY Mellon as tri-party agent. | 35,000,000 | |
100,000,000 | BNP Paribas S.A., 5.46%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,750 on 2/1/2024, in which asset-backed securities and corporate bonds with a market value of $153,023,237 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
876,000,000 | BNP Paribas S.A., 5.39%, dated 1/31/2024, interest in a $1,275,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,275,190,896 on 2/1/2024, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt securities with a market value of $1,300,694,714 have been received as collateral and held with BNY Mellon as tri-party agent. | 876,000,000 | |
150,000,000 | Citigroup Global Markets, Inc., 5.46%, dated 1/31/2024, interest in a $500,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $500,075,833 on 2/1/2024, in which American depositary receipts, common stocks, convertible bond, exchange-traded funds, mutual funds, treasury bills, treasury bonds and treasury notes with a market value of $510,078,106 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
235,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 11/7/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,320,833 on 2/8/2024, in which American depositary receipts, common stocks, treasury bonds and treasury notes with a market value of $307,401,971 have been received as collateral and held with BNY Mellon as tri-party agent. | 235,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 250,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 12/1/2023, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,267,361 on 2/8/2024, in which American depositary receipts, treasury bonds and treasury notes with a market value of $256,168,540 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 250,000,000 | |
750,000,000 | Citigroup Global Markets, Inc., 5.72%, dated 1/11/2024, interest in a $750,000,000 collateralized loan agreement will repurchase securities provided as collateral for $754,170,833 on 3/7/2024, in which American depositary receipts, exchange-traded funds, treasury bonds and treasury notes with a market value of $767,550,127 have been received as collateral and held with BNY Mellon as tri-party agent. | 750,000,000 | |
200,000,000 | Credit Agricole S.A., 5.37%, dated 8/9/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,313,250 on 2/8/2024, in which asset-backed securities and collateralized mortgage obligations with a market value of $306,045,645 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 | |
250,000,000 | Credit Agricole S.A., 5.37%, dated 10/20/2023, interest in a $250,000,000 collateralized loan agreement will repurchase securities provided as collateral for $250,261,042 on 2/8/2024, in which asset-backed securities and collateralized mortgage obligations with a market value of $255,038,038 have been received as collateral and held with BNY Mellon as tri-party agent | 250,000,000 | |
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 2/8/2024, in which asset-backed securities, corporate bonds and medium-term notes with a market value of $204,030,997 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
100,000,000 | Credit Agricole S.A., 5.37%, dated 2/17/2023, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,104,417 on 2/8/2024, in which collateralized mortgage obligations with a market value of $102,031,037 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
150,000,000 | Credit Agricole S.A., 5.37%, dated 10/19/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,261,042 on 2/8/2024, in which asset-backed securities and collateralized mortgage obligations with a market value of $255,038,038 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
25,000,000 | HSBC Securities (USA), Inc., 5.41%, dated 1/31/2024, interest in a $25,000,000 collateralized loan agreement will repurchase securities provided as collateral for $25,003,757 on 2/1/2024, in which asset-backed securities with a market value of $25,500,001 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 265,000,000 | HSBC Securities (USA), Inc., 5.41%, dated 1/31/2024, interest in a $365,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $365,054,851 on 2/1/2024, in which corporate bonds and medium-term notes with a market value of $372,300,773 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 265,000,000 | |
275,000,000 | ING Financial Markets LLC, 5.39%, dated 1/31/2024, interest in a $275,000,000 collateralized loan agreement will repurchase securities provided as collateral for $275,041,174 on 2/1/2024, in which common stocks and exchange-traded funds with a market value of $280,542,023 have been received as collateral and held with BNY Mellon as tri-party agent. | 275,000,000 | |
740,000,000 | J.P. Morgan Securities LLC, 5.54%, dated 1/18/2024, interest in a $1,000,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,005,386,111 on 2/22/2024, in which corporate bonds and medium-term notes with a market value of $1,020,000,001 have been received as collateral and held with BNY Mellon as tri-party agent. | 740,000,000 | |
65,000,000 | Mizuho Securities USA, Inc., 5.46%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,750 on 2/1/2024, in which convertible bond with a market value of $153,023,355 have been received as collateral and held with BNY Mellon as tri-party agent. | 65,000,000 | |
195,000,000 | Mizuho Securities USA, Inc., 5.91%, dated 2/9/2023, interest in a $200,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $202,002,833 on 3/12/2024, in which convertible bond with a market value of $204,703,290 have been received as collateral and held with BNY Mellon as tri-party agent. | 195,000,000 | |
200,000,000 | Mizuho Securities USA, Inc., 5.91%, dated 1/31/2024, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,037,569 on 2/1/2024, in which asset-backed securities, collateralized mortgage obligations and corporate bond with a market value of $255,038,321 have been received as collateral and held with BNY Mellon as tri-party agent. | 200,000,000 | |
351,000,000 | Mitsubishi UFG Securities Americas Inc., 5.46%, dated 1/31/2024, interest in a $400,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $400,060,667 on 2/1/2024, in which asset-backed securities, common stocks, convertible bond, exchange-traded funds and mutual fund with a market value of $408,061,880 have been received as collateral and held with BNY Mellon as tri-party agent. | 351,000,000 |
Principal Amount or Shares | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 150,000,000 | 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 2/8/2024, in which asset-backed securities, common stocks, collateralized mortgage obligations, corporate bonds, convertible bond, commercial paper, certificates of deposit, exchange-traded funds, medium-term notes, municipal bonds and U.S. Government Agency securities with a market value of $306,210,617 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 150,000,000 | |
50,000,000 | Standard Chartered Bank, 5.38%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,417 on 2/1/2024, in which U.S. Government Agency securities, treasury bond and treasury note with a market value of $153,022,896 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
100,000,000 | Standard Chartered Bank, 5.43%, dated 1/26/2024, interest in a $100,000,000 collateralized loan agreement will repurchase securities provided as collateral for $100,105,583 on 2/2/2024, in which U.S. Government Agency securities, treasury bills, treasury bonds and treasury notes with a market value of $102,092,336 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
400,000,000 | TD Securities (USA), LLC, 5.39%, dated 1/31/2024, interest in a $500,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $500,074,861 on 2/1/2024, in which corporate bonds, medium-term notes and municipal bonds with a market value of $510,077,188 have been received as collateral and held with BNY Mellon as tri-party agent. | 400,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 5.84%, dated 2/3/2022, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $152,190,000 on 4/8/2024, in which treasury bills with a market value of $153,570,941 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
150,000,000 | Wells Fargo Securities LLC, 5.95%, dated 12/12/2023, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $152,132,083 on 3/7/2024, in which convertible bonds with a market value of $154,289,959 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
200,000,000 | Wells Fargo Securities LLC, 5.82%, dated 5/30/2023, interest in a $200,000,000 collateralized loan agreement will repurchase securities provided as collateral for $202,910,000 on 4/25/2024, in which treasury notes with a market value of $204,197,915 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, 5.81%, dated 1/9/2023, interest in a $220,000,000 collateralized loan agreement will repurchase securities provided as collateral for $223,195,500 on 5/1/2024, in which corporate bonds, convertible bonds and sovereign debt securities with a market value of $225,498,761 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 220,000,000 | |
500,000,000 | Wells Fargo Securities LLC, 5.73%, dated 8/14/2023, interest in a $500,000,000 collateralized loan agreement will repurchase securities provided as collateral for $507,162,500 on 4/2/2024, in which asset-backed securities, corporate bonds, commercial paper, certificates of deposit, medium-term notes, municipal bonds and sovereign debt securities with a market value of $512,354,163 have been received as collateral and held with BNY Mellon as tri-party agent. | 500,000,000 | |
140,000,000 | Wells Fargo Securities LLC, 5.73%, dated 5/17/2023, interest in a $140,000,000 collateralized loan agreement will repurchase securities provided as collateral for $142,005,500 on 4/2/2024, in which American depositary receipts, exchange-traded funds, mutual funds, sovereign debt securities and unit investment trust with a market value of $143,460,152 have been received as collateral and held with BNY Mellon as tri-party agent. | 140,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $7,887,000,000) | 7,887,000,000 | ||
REPURCHASE AGREEMENTS— 13.8% | |||
Finance - Banking— 13.8% | |||
500,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Bank of Montreal will repurchase securities provided as collateral for $2,000,295,556 on 2/1/2024. 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 1/20/2073 and the market value of those underlying securities was $2,047,391,893. | 500,000,000 | |
500,000,000 | Interest in $2,500,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Bank of Nova Scotia will repurchase securities provided as collateral for $2,500,369,444 on 2/1/2024. 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 12/1/2053 and the market value of those underlying securities was $2,550,376,843. | 500,000,000 | |
500,000,000 | Interest in $1,150,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,150,169,944 on 2/1/2024. 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 2/16/2064 and the market value of those underlying securities was $1,173,241,613. | 500,000,000 |
Principal Amount or Shares | Value | ||
REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$3,500,000,000 | Repurchase agreement 5.30%, dated 1/31/2024 under which Federal Reserve Bank of New York will repurchase securities provided as collateral for $3,500,515,278 on 2/1/2024. 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 11/15/2027 and the market value of those underlying securities was $3,500,515,278. | $ 3,500,000,000 | |
500,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which HSBC Securities (USA), Inc. will repurchase securities provided as collateral for $2,000,295,000 on 2/1/2024. 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 1/1/2054 and the market value of those underlying securities was $2,040,000,000. | 500,000,000 | |
500,000,000 | Interest in $5,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which J.P. Morgan Securities LLC will repurchase securities provided as collateral for $5,000,737,500 on 2/1/2024. 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 10/15/2028 and the market value of those underlying securities was $5,100,000,047. | 500,000,000 | |
500,000,000 | Interest in $1,550,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Mizuho Securities USA, Inc. will repurchase securities provided as collateral for $1,550,229,056 on 2/1/2024. 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 4/16/2062 and the market value of those underlying securities was $1,585,489,519. | 500,000,000 | |
1,000,000,000 | Interest in $5,000,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Morgan Stanley & Co. LLC will repurchase securities provided as collateral for $5,000,738,889 on 2/1/2024. 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 7/1/2061 and the market value of those underlying securities was $5,100,000,000. | 1,000,000,000 | |
500,000,000 | Interest in $1,250,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Mitsubishi UFJ Securities (USA), Inc. will repurchase securities provided as collateral for $1,250,184,722 on 2/1/2024. 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 10/20/2053 and the market value of those underlying securities was $1,287,690,264. | 500,000,000 | |
500,000,000 | Interest in $1,300,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $1,300,192,111 on 2/1/2024. 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 $1,326,195,987. | 500,000,000 |
Principal Amount or Shares | Value | ||
REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 477,480,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 11/20/2051 and the market value of those underlying securities was $3,063,264,328. | $ 477,480,000 | |
500,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 5/15/2048 and the market value of those underlying securities was $3,060,451,433. | 500,000,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $9,477,480,000) | 9,477,480,000 | ||
INVESTMENT COMPANIES— 2.2% | |||
1,000,005,702 | Federated Hermes Institutional Money Market Management, Institutional Shares, 5.45%5 | 999,704,002 | |
500,317,389 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 5.42%5 | 500,320,089 | |
TOTAL INVESTMENT COMPANIES (IDENTIFIED COST $1,500,024,091) | 1,500,024,091 | ||
TOTAL INVESTMENT IN SECURITIES—96.5% (AT AMORTIZED COST)6 | 66,375,362,108 | ||
OTHER ASSETS AND LIABILITIES - NET—3.5%7 | 2,385,245,848 | ||
TOTAL NET ASSETS—100% | $68,760,607,956 |
Federated Hermes Institutional Money Market Management, Institutional Shares | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | Total of Affiliated Transactions | |
Value as of 7/31/2023 | $999,713,001 | $500,320,089 | $1,500,033,090 |
Purchases at Cost | $17,994,600 | $— | $17,994,600 |
Proceeds from Sales | $(18,005,400) | $— | $(18,005,400) |
Change in Unrealized Appreciation/ Depreciation | $— | $— | $— |
Net Realized Gain/(Loss) | $1,801 | $— | $1,801 |
Value as of 1/31/2024 | $999,704,002 | $500,320,089 | $1,500,024,091 |
Shares Held as of 1/31/2024 | 1,000,005,702 | 500,317,389 | 1,500,323,091 |
Dividend Income | $27,462,838 | $13,693,789 | $41,156,627 |
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 January 31, 2024, these restricted securities amounted to $302,000,000, which represented 0.4% of total net assets. |
3 | Discount rate at time of purchase for discount issues, or the coupon for interest-bearing issues. |
4 | Discount rate at time of purchase. |
5 | 7-day net yield. |
6 | Also represents cost of investments for federal tax purposes. |
7 | 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 January 31, 2024, 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: | ||||
Certificates of Deposit | $— | $15,975,500,000 | $— | $15,975,500,000 |
Notes - Variable | — | 14,074,094,997 | — | 14,074,094,997 |
Commercial Paper | — | 9,982,913,491 | — | 9,982,913,491 |
Time Deposits | — | 6,828,000,000 | — | 6,828,000,000 |
U.S. Treasury | — | 650,349,529 | — | 650,349,529 |
Other Repurchase Agreements | — | 7,887,000,000 | — | 7,887,000,000 |
Repurchase Agreements | — | 9,477,480,000 | — | 9,477,480,000 |
Investment Company | 1,500,024,091 | — | — | 1,500,024,091 |
TOTAL SECURITIES | $1,500,024,091 | $64,875,338,017 | $— | $66,375,362,108 |
The following acronym(s) are used throughout this portfolio: | ||
COL | —Collateralized | |
CP | —Commercial Paper | |
FHLB | —Federal Home Loan Bank | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
SOFR | —Secured Overnight Financing Rate |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.027 | 0.041 | 0.003 | 0.0002 | 0.013 | 0.023 |
Net realized gain (loss) | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 | 0.0002 |
TOTAL FROM INVESTMENT OPERATIONS | 0.027 | 0.041 | 0.003 | 0.0002 | 0.013 | 0.023 |
Less Distributions: | ||||||
Distributions from net investment income | (0.027) | (0.041) | (0.003) | (0.000)2 | (0.013) | (0.023) |
Distributions from net realized gain | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
TOTAL DISTRIBUTIONS | (0.027) | (0.041) | (0.003) | (0.000)2 | (0.013) | (0.023) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.75% | 4.20% | 0.33% | 0.04% | 1.33% | 2.36% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.20%5 | 0.20% | 0.19% | 0.20% | 0.20% | 0.20% |
Net investment income | 5.42%5 | 4.42% | 0.36% | 0.04% | 1.33% | 2.36% |
Expense waiver/ reimbursement6 | 0.05%5 | 0.09% | 0.12% | 0.10% | 0.10% | 0.10% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $59,082,577 | $44,262,167 | $13,928,308 | $11,788,470 | $18,814,127 | $16,862,096 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $17,364,480,000 |
Investment in securities, including $1,500,024,091 of investment in affiliated holdings* | 49,010,882,108 |
Investment in securities, at amortized cost and fair value | 66,375,362,108 |
Cash | 2,000,255,723 |
Income receivable | 311,134,297 |
Income receivable from affiliated holdings | 6,935,855 |
Receivable for shares sold | 287,028,755 |
Total Assets | 68,980,716,738 |
Liabilities: | |
Payable for investments purchased | 8,100,000 |
Payable for shares redeemed | 201,553,539 |
Income distribution payable | 7,049,420 |
Payable for investment adviser fee (Note 5) | 209,593 |
Payable for administrative fee (Note 5) | 145,159 |
Payable for Directors’/Trustees’ fees (Note 5) | 49,770 |
Payable for custodian fees | 606,874 |
Payable for distribution services fee (Note 5) | 420,382 |
Payable for other service fees (Notes 2 and 5) | 1,416,517 |
Accrued expenses (Note 5) | 557,528 |
Total Liabilities | 220,108,782 |
Net assets for 68,764,180,899 shares outstanding | $68,760,607,956 |
Net Assets Consist of: | |
Paid-in capital | $68,764,172,083 |
Total distributable earnings (loss) | (3,564,127) |
Total Net Assets | $68,760,607,956 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Automated Shares: | |
$738,403,195 ÷ 738,441,518 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Class R Shares: | |
$50,024,000 ÷ 50,026,599 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Wealth Shares: | |
$59,082,576,581 ÷ 59,085,645,815 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Advisor Shares: | |
$3,149,516,356 ÷ 3,149,681,125 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$3,689,303,455 ÷ 3,689,495,195 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$1,160,958,290 ÷ 1,161,018,706 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$95,775,515 ÷ 95,780,503 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Capital Shares: | |
$706,178,672 ÷ 706,215,163 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$87,871,892 ÷ 87,876,275 shares outstanding, no par value, unlimited shares authorized | $1.00 |
* | See information listed after the Fund’s Portfolio of Investments. |
Investment Income: | |
Interest | $1,688,603,624 |
Dividends received from affiliated holdings* | 41,156,627 |
TOTAL INCOME | 1,729,760,251 |
Expenses: | |
Investment adviser fee (Note 5) | 50,046,608 |
Administrative fee (Note 5) | 23,948,911 |
Custodian fees | 867,242 |
Transfer agent fees (Note 2) | 1,013,857 |
Directors’/Trustees’ fees (Note 5) | 126,903 |
Auditing fees | 13,070 |
Legal fees | 5,282 |
Portfolio accounting fees | 136,644 |
Distribution services fee (Note 5) | 2,430,183 |
Other service fees (Notes 2 and 5) | 6,959,561 |
Share registration costs | 1,215,254 |
Printing and postage | 340,533 |
Miscellaneous (Note 5) | 102,799 |
TOTAL EXPENSES | 87,206,847 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 5) | (15,256,015) |
Waivers/reimbursements of other operating expenses (Notes 2 and 5) | (54,190) |
TOTAL WAIVERS AND REIMBURSEMENTS | (15,310,205) |
Net expenses | 71,896,642 |
Net investment income | 1,657,863,609 |
Net realized gain on investments in affiliated holdings* | 1,801 |
Change in net assets resulting from operations | $1,657,865,410 |
* | See information listed after the Fund’s Portfolio of Investments. |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $1,657,863,609 | $1,590,053,947 |
Net realized gain (loss) | 1,801 | (3,561,476) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 1,657,865,410 | 1,586,492,471 |
Distributions to Shareholders: | ||
Automated Shares | (16,344,223) | (24,227,826) |
Class R Shares | (1,137,229) | (1,415,396) |
Wealth Shares | (1,415,415,717) | (1,314,807,011) |
Advisor Shares | (90,596,894) | (105,829,942) |
Service Shares | (86,442,441) | (82,982,235) |
Cash II Shares | (26,673,680) | (37,391,710) |
Cash Series Shares | (1,903,704) | (1,786,237) |
Capital Shares | (17,801,525) | (20,426,106) |
Trust Shares | (1,548,877) | (1,355,868) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (1,657,864,290) | (1,590,222,331) |
Share Transactions: | ||
Proceeds from sale of shares | 45,243,617,044 | 77,865,463,389 |
Net asset value of shares issued to shareholders in payment of distributions declared | 1,609,420,269 | 1,518,646,831 |
Cost of shares redeemed | (30,880,628,605) | (45,452,793,697) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 15,972,408,708 | 33,931,316,523 |
Change in net assets | 15,972,409,828 | 33,927,586,663 |
Net Assets: | ||
Beginning of period | 52,788,198,128 | 18,860,611,465 |
End of period | $68,760,607,956 | $52,788,198,128 |
Transfer Agent Fees Incurred | Transfer Agent Fees Reimbursed | |
Automated Shares | $102,614 | $— |
Class R Shares | 53,523 | — |
Wealth Shares | 252,180 | (26) |
Advisor Shares | 16,207 | — |
Service Shares | 16,154 | — |
Cash II Shares | 533,723 | — |
Cash Series Shares | 35,915 | (3) |
Capital Shares | 3,241 | — |
Trust Shares | 300 | — |
TOTAL | $1,013,857 | $(29) |
Other Service Fees Incurred | |
Automated Shares | $795,512 |
Class R Shares | 62,260 |
Service Shares | 4,182,370 |
Cash II Shares | 1,411,810 |
Cash Series Shares | 103,873 |
Capital Shares | 334,861 |
Trust Shares | 68,875 |
TOTAL | $6,959,561 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 512,654,678 | $512,654,678 | 877,004,828 | $877,004,828 |
Shares issued to shareholders in payment of distributions declared | 16,183,644 | 16,183,644 | 23,720,180 | 23,720,180 |
Shares redeemed | (327,203,741) | (327,203,741) | (1,075,804,759) | (1,075,804,759) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | 201,634,581 | $201,634,581 | (175,079,751) | $(175,079,751) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Class R Shares: | Shares | Amount | Shares | Amount |
Shares sold | 6,426,447 | $6,426,447 | 34,129,153 | $34,129,153 |
Shares issued to shareholders in payment of distributions declared | 1,132,733 | 1,132,733 | 1,409,332 | 1,409,332 |
Shares redeemed | (6,273,103) | (6,273,103) | (28,042,086) | (28,042,086) |
NET CHANGE RESULTING FROM CLASS R SHARE TRANSACTIONS | 1,286,077 | $1,286,077 | 7,496,399 | $7,496,399 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Wealth Shares: | Shares | Amount | Shares | Amount |
Shares sold | 38,941,839,136 | $38,941,839,136 | 64,964,614,365 | $64,964,614,365 |
Shares issued to shareholders in payment of distributions declared | 1,371,507,174 | 1,371,507,174 | 1,250,686,292 | 1,250,686,292 |
Shares redeemed | (25,492,864,744) | (25,492,864,744) | (35,878,329,216) | (35,878,329,216) |
NET CHANGE RESULTING FROM WEALTH SHARE TRANSACTIONS | 14,820,481,566 | $14,820,481,566 | 30,336,971,441 | $30,336,971,441 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Advisor Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,512,397,786 | $2,512,397,786 | 6,152,436,887 | $6,152,436,887 |
Shares issued to shareholders in payment of distributions declared | 90,595,947 | 90,595,947 | 105,829,739 | 105,829,739 |
Shares redeemed | (2,742,435,542) | (2,742,435,542) | (3,995,611,046) | (3,995,611,046) |
NET CHANGE RESULTING FROM ADVISOR SHARE TRANSACTIONS | (139,441,809) | $(139,441,809) | 2,262,655,580 | $2,262,655,580 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,284,327,064 | $2,284,327,064 | 4,235,413,542 | $4,235,413,542 |
Shares issued to shareholders in payment of distributions declared | 83,544,398 | 83,544,398 | 78,436,333 | 78,436,333 |
Shares redeemed | (1,546,994,207) | (1,546,994,207) | (2,924,931,444) | (2,924,931,444) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 820,877,255 | $820,877,255 | 1,388,918,431 | $1,388,918,431 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 372,002,661 | $372,002,661 | 495,313,546 | $495,313,546 |
Shares issued to shareholders in payment of distributions declared | 26,310,621 | 26,310,621 | 36,553,414 | 36,553,414 |
Shares redeemed | (299,006,466) | (299,006,466) | (771,694,021) | (771,694,021) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | 99,306,816 | $99,306,816 | (239,827,061) | $(239,827,061) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 71,761,814 | $71,761,814 | 128,212,272 | $128,212,272 |
Shares issued to shareholders in payment of distributions declared | 1,878,143 | 1,878,143 | 1,736,731 | 1,736,731 |
Shares redeemed | (50,059,413) | (50,059,413) | (100,031,296) | (100,031,296) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 23,580,544 | $23,580,544 | 29,917,707 | $29,917,707 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 410,472,011 | $410,472,011 | 873,403,036 | $873,403,036 |
Shares issued to shareholders in payment of distributions declared | 16,733,890 | 16,733,890 | 18,933,076 | 18,933,076 |
Shares redeemed | (321,946,629) | (321,946,629) | (602,352,249) | (602,352,249) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 105,259,272 | $105,259,272 | 289,983,863 | $289,983,863 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 131,735,447 | $131,735,447 | 104,935,760 | $104,935,760 |
Shares issued to shareholders in payment of distributions declared | 1,533,719 | 1,533,719 | 1,341,734 | 1,341,734 |
Shares redeemed | (93,844,760) | (93,844,760) | (75,997,580) | (75,997,580) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | 39,424,406 | $39,424,406 | 30,279,914 | $30,279,914 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 15,972,408,708 | $15,972,408,708 | 33,931,316,523 | $33,931,316,523 |
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 | $126,123 | $(12,612) |
Cash II Shares | 1,976,534 | — |
Cash Series Shares | 249,295 | (41,549) |
Trust Shares | 78,231 | — |
TOTAL | $2,430,183 | $(54,161) |
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,027.50 | $1.02 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.13 | $1.02 |
1 | Expenses are equal to the Fund’s Wealth Shares annualized net expense ratio of 0.20%, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/fhilogok11p.jpg)
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/imgc70bac381.gif)
Share Class | Ticker | Institutional | POIXX | Service | PRSXX |
Federated Hermes Institutional Prime Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Other Repurchase Agreements and Repurchase Agreements | 33.6% |
Bank Instruments | 30.6% |
Variable Rate Instruments | 18.7% |
Commercial Paper | 16.3% |
U.S. Treasury Securities | 0.7% |
Asset-Backed Security | 0.1% |
Other Assets and Liabilities—Net2,3 | 0.0% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these security types. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
3 | Represents less than 0.1%. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days2 | 67.3% |
8-30 Days | 8.8% |
31-90 Days | 12.5% |
91-180 Days | 5.4% |
181 Days or more | 6.0% |
Other Assets and Liabilities—Net3,4 | 0.0% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Overnight securities comprised 29.7% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
4 | Represents less than 0.1%. |
Principal Amount | Value | ||
CERTIFICATES OF DEPOSIT— 22.8% | |||
Finance - Banking— 22.8% | |||
$ 157,500,000 | Bank of America N.A., 5.180% - 6.000%, 6/17/2024 - 1/24/2025 | $ 157,680,370 | |
70,000,000 | Bank of America N.A., 5.440% - 6.000%, 2/7/2024 - 9/23/2024 | 70,121,450 | |
125,000,000 | Bank of Montreal, 5.820%, 5/28/2024 | 125,087,930 | |
70,000,000 | Bank of Nova Scotia, Toronto, 6.000%, 10/18/2024 | 70,349,219 | |
50,000,000 | BMO Bank, N.A., 6.000%, 9/9/2024 | 50,191,018 | |
250,000,000 | Canadian Imperial Bank of Commerce, 5.250% - 6.000%, 2/5/2024 - 10/17/2024 | 250,557,950 | |
320,000,000 | Citibank N.A., New York, 5.740% - 6.010%, 7/22/2024 - 9/18/2024 | 320,964,327 | |
755,000,000 | Credit Agricole Corporate and Investment Bank, 5.320% - 5.690%, 2/1/2024 - 2/7/2024 | 755,000,000 | |
142,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.710% - 5.800%, 4/24/2024 - 5/17/2024 | 142,091,218 | |
751,500,000 | Mizuho Bank, Ltd., 5.430% - 5.750%, 2/2/2024 - 4/17/2024 | 751,499,953 | |
562,000,000 | MUFG Bank, Ltd., 5.500% - 5.750%, 2/14/2024 - 3/28/2024 | 562,000,000 | |
948,500,000 | Sumitomo Mitsui Trust Bank, Ltd., 5.450% - 5.700%, 2/6/2024 - 4/18/2024 | 948,511,379 | |
169,500,000 | Svenska Handelsbanken, Stockholm, 5.800%, 4/4/2024 - 4/17/2024 | 169,624,917 | |
423,000,000 | Toronto Dominion Bank, 5.440% - 6.050%, 2/13/2024 - 10/3/2024 | 424,389,939 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $4,794,000,000) | 4,798,069,670 | ||
1 | NOTES - VARIABLE— 18.7% | ||
Finance - Banking— 16.0% | |||
50,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 50,000,000 | |
71,000,000 | Bank of Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 71,000,000 | |
55,000,000 | Bank of Montreal, 5.910% (SOFR +0.600%), 2/1/2024 | 55,068,505 | |
40,000,000 | Bank of Montreal, 5.990% (SOFR +0.680%), 2/1/2024 | 40,043,754 | |
25,000,000 | Bank of Nova Scotia, Toronto, 5.620% (SOFR +0.310%), 2/1/2024 | 25,000,000 | |
73,000,000 | Bank of Nova Scotia, Toronto, 5.690% (SOFR +0.380%), 2/1/2024 | 73,000,000 | |
10,000,000 | Bank of Nova Scotia, Toronto, 5.720% (SOFR +0.410%), 2/1/2024 | 10,000,000 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.650%), 2/1/2024 | 50,093,527 | |
100,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.970% (SOFR +0.660%), 2/1/2024 | 100,106,234 |
100,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 5.520% (SOFR +0.210%), 2/1/2024 | 100,009,588 | |
95,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 5.710% (SOFR +0.400%), 2/1/2024 | 95,000,000 | |
175,000,000 | Canadian Imperial Bank of Commerce, 5.960% (SOFR +0.650%), 2/1/2024 | 175,212,240 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 75,000,000 | Canadian Imperial Bank of Commerce, 5.960% (SOFR +0.650%), 2/1/2024 | $ 75,099,800 | |
9,900,000 | City Furniture, Inc., (Wells Fargo Bank, N.A. LOC), 5.460%, 2/1/2024 | 9,900,000 | |
23,500,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.730% (SOFR +0.420%), 2/1/2024 | 23,505,929 | |
23,500,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 23,505,623 | |
50,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 50,013,584 | |
16,700,000 | Greene County Development Authority, Reynolds Lodge, LLC Series 2000B, (U.S. Bank, N.A. LOC), 5.330%, 2/7/2024 | 16,700,000 | |
7,595,000 | Gulf Gate Apartments, LLC, Series 2003, (Wells Fargo Bank, N.A. LOC), 5.440%, 2/1/2024 | 7,595,000 | |
10,580,000 | Hamilton Station Park and Ride, Series 2005, (Wells Fargo Bank, N.A. LOC), 5.440%, 2/1/2024 | 10,580,000 | |
35,943,000 | Iowa Student Loan Liquidity Corp., (Series 2023-1) Weekly VRDNs, (Royal Bank of Canada LOC), 5.380%, 2/1/2024 | 35,943,000 | |
55,000,000 | J.P. Morgan Securities LLC, 5.940% (SOFR +0.630%), 2/1/2024 | 55,055,518 | |
94,000,000 | J.P. Morgan Securities LLC, 5.940% (SOFR +0.630%), 2/1/2024 | 94,102,620 | |
100,000,000 | J.P. Morgan Securities LLC, 5.960% (SOFR +0.650%), 2/1/2024 | 100,096,884 | |
150,000,000 | J.P. Morgan Securities LLC, 5.970% (SOFR +0.660%), 2/1/2024 | 150,144,865 | |
67,500,000 | National Australia Bank Ltd., Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 67,500,000 | |
70,000,000 | National Australia Bank Ltd., Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 70,000,000 | |
70,000,000 | National Australia Bank Ltd., Melbourne, 5.790% (SOFR +0.480%), 2/1/2024 | 70,116,685 | |
75,000,000 | National Bank of Canada, Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 75,000,000 | |
70,000,000 | National Bank of Canada, Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 70,000,000 | |
15,000,000 | Nordea Bank Abp, 5.460% (SOFR +0.150%), 2/1/2024 | 15,000,000 | |
34,000,000 | Nuveen Floating Rate, Income Fund, (Series A), (Sumitomo Mitsui Banking Corp. LOC), 5.500%, 2/1/2024 | 34,000,000 | |
40,000,000 | 2 | Ridgefield Funding Co., LLC Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.280%), 2/1/2024 | 40,000,000 |
70,000,000 | Royal Bank of Canada, New York Branch, 5.910% (SOFR +0.600%), 2/1/2024 | 70,089,598 | |
18,965,000 | Salem Green, LLLP, Salem Green Apartments Project, Series 2010, (Wells Fargo Bank, N.A. LOC), 5.440%, 2/1/2024 | 18,965,000 | |
100,000,000 | State Street Bank and Trust Co., 5.480% (SOFR +0.170%), 2/1/2024 | 100,000,000 | |
400,000,000 | State Street Bank and Trust Co., 5.490% (SOFR +0.180%), 2/1/2024 | 400,021,424 | |
200,000,000 | Sumitomo Mitsui Banking Corp., 5.510% (SOFR +0.200%), 2/1/2024 | 200,000,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 2,654,151 | Taxable Tender Option Bond Trust 2021-MIZ9077TX, (Series 2021-MIZ9077TX) VRDNs, (Mizuho Bank, Ltd. LIQ)/(Mizuho Bank, Ltd. LOC), 5.580%, 2/1/2024 | $ 2,654,151 | |
2,207,606 | Taxable Tender Option Bond Trust 2021-MIZ9078TX, (Series 2021-MIZ9078TX) VRDNs, (Mizuho Bank, Ltd. LIQ)/(Mizuho Bank, Ltd. LOC), 5.580%, 2/1/2024 | 2,207,606 | |
50,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 2/1/2024 | 50,056,808 | |
45,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 45,118,405 | |
40,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 40,105,082 | |
200,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 200,420,668 | |
125,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 125,255,705 | |
70,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 70,147,648 | |
65,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 65,170,173 | |
30,000,000 | Wells Fargo Bank, N.A., 5.960% (SOFR +0.650%), 2/1/2024 | 30,059,823 | |
TOTAL | 3,358,665,447 | ||
Finance - Retail— 1.4% | |||
30,000,000 | Old Line Funding, LLC, 5.710% (SOFR +0.400%), 2/1/2024 | 30,009,728 | |
22,500,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 22,504,016 | |
17,500,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 17,509,021 | |
39,000,000 | Sheffield Receivables Co. LLC, 5.610% (SOFR +0.300%), 2/1/2024 | 39,000,000 | |
15,000,000 | Sheffield Receivables Co. LLC, 5.610% (SOFR +0.300%), 2/1/2024 | 15,000,000 | |
100,000,000 | Thunder Bay Funding, LLC, 5.530% (SOFR +0.220%), 2/1/2024 | 100,000,000 | |
50,000,000 | Thunder Bay Funding, LLC, 5.690% (SOFR +0.380%), 2/1/2024 | 50,019,008 | |
15,000,000 | Thunder Bay Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 15,006,393 | |
TOTAL | 289,048,166 | ||
Government Agency— 1.3% | |||
17,035,000 | 1320 W Jefferson LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/7/2024 | 17,035,000 | |
51,450,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 51,450,000 | |
6,830,000 | Baker Life Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 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%, 2/1/2024 | 34,645,000 | |
6,500,000 | Carmel Valley Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 6,500,000 | |
5,705,000 | Catania Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 5,705,000 | |
4,120,000 | CP Canyons WFH, LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 4,120,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 2,000,000 | Eagle Hesperia 55 II LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | $ 2,000,000 | |
4,270,000 | Jim Brooks Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 4,270,000 | |
11,570,000 | Joseph L. Goggins Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 11,570,000 | |
3,655,000 | Karyn Brooks Descendants Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 3,655,000 | |
6,380,000 | MHF DKF Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/7/2024 | 6,380,000 | |
17,030,000 | Mohr Green Associates, LP, 2012-A, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 17,030,000 | |
22,610,000 | NWD 2017 Family Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 22,610,000 | |
9,080,000 | Park Stanton Place LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 9,080,000 | |
11,630,000 | Plaza Fitzsimons Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/7/2024 | 11,630,000 | |
5,010,000 | R.J. Brooks Jr. Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 5,010,000 | |
6,980,000 | RK Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 6,980,000 | |
6,500,000 | Rohnert Park 668, LP (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 6,500,000 | |
6,255,000 | Sibley Family Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 6,255,000 | |
5,120,000 | The Eugene Kim Irrevocable Life Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 5,120,000 | |
22,830,000 | The Gregory P. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/7/2024 | 22,830,000 | |
5,740,000 | The Leopold Family Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 5,740,000 | |
5,975,000 | The Thompson 2018 Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 5,975,000 | |
TOTAL | 278,920,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $3,923,964,757) | 3,926,633,613 | ||
3 | COMMERCIAL PAPER— 16.3% | ||
Finance - Banking— 10.8% | |||
292,500,000 | Anglesea Funding, LLC, 5.383% - 5.681%, 2/1/2024 - 3/4/2024 | 291,774,288 | |
117,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.802% - 5.935%, 5/1/2024 - 8/16/2024 | 114,750,055 | |
150,000,000 | Bank of Montreal, 5.980%, 8/1/2024 | 150,462,649 | |
75,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 73,372,154 | |
208,500,000 | BPCE S.A., 5.602%, 3/12/2024 | 207,222,358 |
Principal Amount | Value | ||
3 | COMMERCIAL PAPER— continued | ||
Finance - Banking— continued | |||
$ 375,000,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | $ 368,149,591 | |
40,000,000 | Citigroup Global Markets, Inc., 5.902%, 5/1/2024 | 39,452,834 | |
110,000,000 | DNB Bank ASA, 5.803%, 4/18/2024 | 108,745,986 | |
32,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.333%, 2/29/2024 | 31,867,840 | |
35,000,000 | Great Bear Funding, LLC, (Bank of Nova Scotia, Toronto COL), 5.335%, 2/6/2024 | 34,974,090 | |
75,000,000 | Longship Funding, LLC, (Nordea Bank Abp COL), 5.326%, 2/7/2024 | 74,933,500 | |
366,000,000 | Nationwide Building Society, 5.325%, 2/13/2024 | 365,351,569 | |
25,000,000 | Nordea Bank Abp, 5.796%, 4/19/2024 | 24,710,474 | |
25,000,000 | Podium Funding Trust, 5.614% - 5.731%, 5/17/2024 - 6/10/2024 | 24,553,402 | |
99,500,000 | Royal Bank of Canada, 6.000% - 6.004%, 10/11/2024 - 10/16/2024 | 95,945,416 | |
160,000,000 | Toronto Dominion Bank, 5.801% - 6.004%, 5/16/2024 - 8/23/2024 | 156,165,336 | |
100,000,000 | Victory Receivables Corp., (MUFG Bank Ltd. LIQ), 5.703%, 2/20/2024 | 99,703,917 | |
TOTAL | 2,262,135,459 | ||
Finance - Commercial— 0.0% | |||
13,500,000 | Atlantic Asset Securitization, LLC, 5.471%, 2/20/2024 | 13,461,383 | |
Finance - Retail— 1.7% | |||
345,000,000 | Chariot Funding, LLC, 5.426% - 5.506%, 2/6/2024 - 4/29/2024 | 341,964,244 | |
11,000,000 | Fairway Finance Co., LLC, 5.810%, 4/17/2024 | 10,873,554 | |
TOTAL | 352,837,798 | ||
Pharmaceuticals and Health Care— 1.3% | |||
203,400,000 | Eli Lilly & Co., 5.322% - 5.342%, 2/15/2024 - 2/20/2024 | 202,932,887 | |
75,000,000 | Novartis Finance Corp., (Guaranteed by Novartis AG), 5.355% - 5.361%, 2/5/2024 - 2/13/2024 | 74,920,050 | |
TOTAL | 277,852,937 | ||
Sovereign— 2.5% | |||
298,000,000 | BNG Bank N.V., 5.337% - 5.356%, 2/7/2024 - 2/13/2024 | 297,633,677 | |
90,000,000 | Caisse des Depots et Consignations (CDC), 5.347% - 5.348%, 2/28/2024 - 2/29/2024 | 89,633,906 | |
35,000,000 | Erste Abwicklungsanstalt, 5.358%, 2/15/2024 | 34,927,385 | |
100,000,000 | NRW.Bank, 5.657%, 2/12/2024 | 99,830,417 | |
TOTAL | 522,025,385 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $3,426,423,828) | 3,428,312,962 | ||
TIME DEPOSITS— 7.7% | |||
Finance - Banking— 7.7% | |||
1,050,000,000 | ABN Amro Bank NV, 5.310% - 5.330%, 2/1/2024 - 2/5/2024 | 1,050,000,000 | |
400,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.320%, 2/1/2024 - 2/7/2024 | 400,000,000 |
Principal Amount | Value | ||
TIME DEPOSITS— continued | |||
Finance - Banking— continued | |||
$ 170,000,000 | Mizuho Bank, Ltd., 5.330%, 2/1/2024 | $ 170,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $1,620,000,000) | 1,620,000,000 | ||
U.S. TREASURY— 0.7% | |||
U.S. Treasury Bills— 0.7% | |||
150,000,000 | United States Treasury Bill, 5.290%, 2/6/2024 (IDENTIFIED COST $149,889,792) | 149,889,792 | |
ASSET-BACKED SECURITY— 0.1% | |||
Auto Receivables— 0.1% | |||
18,073,548 | Enterprise Fleet Financing, LLC 2023-3, Class A1, 5.906%, 10/21/2024 (IDENTIFIED COST $18,073,548) | 18,090,257 | |
OTHER REPURCHASE AGREEMENTS— 13.8% | |||
Finance - Banking— 13.8% | |||
25,000,000 | BMO Capital Markets Corp., 5.41%, dated 1/31/2024, interest in a $550,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $550,082,653 on 2/1/2024, in which asset-backed securities, corporate bonds, collateralized mortgage obligations, sovereign debt and U.S. Government Agency securities with a market value of $561,084,532 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
50,000,000 | BNP Paribas S.A., 5.46%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,750 on 2/1/2024, in which asset-backed securities and corporate bonds with a market value of $153,023,237 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
362,371,000 | BNP Paribas S.A., 5.39%, dated 1/31/2024, interest in a $1,275,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,275,190,896 on 2/1/2024, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $1,300,694,714 have been received as collateral and held with BNY Mellon as tri-party agent. | 362,371,000 | |
35,000,000 | BofA Securities, Inc., 5.37%, dated 1/31/2024, interest in a $60,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $60,008,950 on 2/1/2024, in which corporate bonds and medium-term notes with a market value of $61,209,195 have been received as collateral and held with BNY Mellon as tri-party agent. | 35,000,000 | |
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 5/1/2024, in which American depositary receipts, convertible bonds and medium-term notes with a market value of $102,504,504 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 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 2/8/2024, in which asset-backed securities, corporate bonds and medium-term notes with a market value of $168,325,292 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 150,000,000 | |
150,000,000 | BofA Securities, Inc., 5.94%, dated 1/29/2024, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $152,227,500 on 5/1/2024, in which asset-backed securities, corporate bonds and medium-term notes with a market value of $153,075,608 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
150,000,000 | BofA Securities, Inc., 5.39%, dated 1/31/2024, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,022,458 on 2/1/2024, in which asset-backed securities, corporate bonds and medium-term notes with a market value of $153,022,909 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
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 5/1/2024, in which American depositary receipts, convertible bonds and sovereign debt with a market value of $256,261,258 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
60,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 11/7/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,320,833 on 2/8/2024, in which American depositary receipts, common stocks, treasury bonds and treasury notes with a market value of $307,401,971 have been received as collateral and held with BNY Mellon as tri-party agent. | 60,000,000 | |
350,000,000 | Citigroup Global Markets, Inc., 5.46%, dated 1/31/2024, interest in a $500,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $500,075,833 on 2/1/2024, in which American depositary receipts, common stocks, convertible bond, exchange-traded funds, mutual funds, treasury bills, treasury bonds and treasury notes with a market value of $510,078,106 have been received as collateral and held with BNY Mellon as tri-party agent. | 350,000,000 | |
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 2/8/2024, in which asset-backed securities, corporate bonds and medium-term notes with a market value of $204,030,997 have been received as collateral and held with BNY Mellon as tri-party agent. | 65,000,000 | |
100,000,000 | Credit Agricole S.A., 5.37%, dated 8/9/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,313,250 on 2/8/2024, in which asset-backed securities and collateralized mortgage obligations with a market value of $306,045,645 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 100,000,000 | Credit Agricole S.A., 5.37%, dated 10/19/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,261,042 on 2/8/2024, in which asset-backed securities and collateralized mortgage obligations with a market value of $255,038,038 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 100,000,000 | |
50,000,000 | HSBC Securities (USA), Inc., 5.41%, dated 1/31/2024, interest in a $365,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $365,054,851 on 2/1/2024, in which corporate bonds and medium-term notes with a market value of $372,300,773 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
28,910,000 | ING Financial Markets LLC, 5.39%, dated 1/31/2024, interest in a $30,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $30,004,492 on 2/1/2024, in which corporate bonds with a market value of $30,604,989 have been received as collateral and held with BNY Mellon as tri-party agent. | 28,910,000 | |
250,000,000 | J.P. Morgan Securities LLC, 5.54%, dated 1/18/2024, interest in a $1,000,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,005,386,111 on 2/22/2024, in which corporate bonds and medium-term notes with a market value of $1,200,000,001 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
50,000,000 | Mizuho Securities USA LLC, 5.41%, dated 1/31/2024, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,037,569 on 2/1/2024, in which asset-backed securities, collateralized mortgage obligations and corporate bond with a market value of $255,038,321 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
85,000,000 | Mizuho Securities USA LLC, 5.46%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,750 on 2/1/2024, in which convertible bonds with a market value of $153,023,355 have been received as collateral and held with BNY Mellon as tri-party agent. | 85,000,000 | |
36,371,000 | Mitsubishi UFG Securities Americas Inc., 5.46%, dated 1/31/2024, interest in a $400,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $400,060,667 on 2/1/2024, in which asset-backed securities, common stocks, convertible bond, exchange-traded funds and mutual fund with a market value of $408,061,880 have been received as collateral and held with BNY Mellon as tri-party agent. | 36,371,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 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 2/8/2024, in which asset-backed securities, common stocks, collateralized mortgage obligations, corporate bonds, convertible bond, commercial paper, certificate of deposit, exchange-traded funds, medium-term notes, municipal bonds and U.S. Government Agency securities with a market value of $306,210,617 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 135,000,000 | |
87,371,000 | Standard Chartered Bank, 5.38%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,417 on 2/1/2024, in which U.S. Government Agency securities, treasury bond and treasury note with a market value of $153,022,896 have been received as collateral and held with BNY Mellon as tri-party agent. | 87,371,000 | |
100,000,000 | TD Securities (USA), LLC, 5.39%, dated 1/31/2024, interest in a $500,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $500,074,861 on 2/1/2024, in which corporate bonds, medium-term notes and municipal bonds with a market value of $510,077,188 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
125,000,000 | Wells Fargo Securities LLC, 5.84%, dated 2/3/2022, interest in a $125,000,000 collateralized loan agreement will repurchase securities provided as collateral for $126,825,000 on 4/8/2024, in which treasury bills with a market value of $127,975,809 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $3,345,023,000) | 2,895,023,000 | ||
REPURCHASE AGREEMENTS— 19.9% | |||
Finance - Banking— 19.9% | |||
500,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Bank of Montreal will repurchase securities provided as collateral for $2,000,295,556 on 2/1/2024. 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 1/20/2073 and the market value of those underlying securities was $2,047,391,893. | 500,000,000 | |
500,000,000 | Interest in $1,150,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,150,169,944 on 2/1/2024. 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 $1,173,241,613. | 500,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 500,000,000 | Interest in $5,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which J.P. Morgan Securities LLC will repurchase securities provided as collateral for $5,000,737,500 on 2/1/2024. 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 10/15/2028 and the market value of those underlying securities was $5,100,000,047. | $ 500,000,000 | |
500,000,000 | Interest in $1,550,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Mizuho Securities USA LLC will repurchase securities provided as collateral for $1,550,229,056 on 2/1/2024. 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 4/16/2062 and the market value of those underlying securities was $1,585,489,519. | 500,000,000 | |
500,000,000 | Interest in $5,000,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Morgan Stanley & Co. LLC will repurchase securities provided as collateral for $5,000,738,889 on 2/1/2024. 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 7/1/2061 and the market value of those underlying securities was $5,100,000,000. | 500,000,000 | |
500,000,000 | Interest in $1,250,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Mitsubishi UFG Securities (USA), Inc. will repurchase securities provided as collateral for $1,250,184,722 on 2/1/2024. 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 10/20/2053 and the market value of those underlying securities was $1,287,690,264. | 500,000,000 | |
1,168,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 5/15/2048 and the market value of those underlying securities was $6,123,715,761. | 1,168,000,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $3,718,000,000) | 4,168,000,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.0% (IDENTIFIED COST $20,995,374,925)4 | 21,004,019,294 | ||
OTHER ASSETS AND LIABILITIES - NET—0.0%5 | 8,257,970 | ||
TOTAL NET ASSETS—100% | $21,012,277,264 |
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 January 31, 2024, these restricted securities amounted to $140,106,234, which represented 0.7% 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 | |
CP | —Commercial Paper | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MHF | —Maryland Housing Fund | |
SOFR | —Secured Overnight Financing Rate | |
VRDNs | —Variable Rate Demand Notes |
Six Months Ended (unaudited) 1/31/2024 | Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $1.0002 | $0.9998 | $1.0005 | $1.0007 | $1.0004 | $1.0003 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.0273 | 0.0413 | 0.0037 | 0.0008 | 0.0136 | 0.0239 |
Net realized and unrealized gain (loss) | 0.0006 | 0.0004 | (0.0008) | (0.0002) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0279 | 0.0417 | 0.0029 | 0.0006 | 0.0139 | 0.0240 |
Less Distributions: | ||||||
Distributions from net investment income | (0.0274) | (0.0413) | (0.0036) | (0.0008) | (0.0136) | (0.0239) |
Net Asset Value, End of Period | $1.0007 | $1.0002 | $0.9998 | $1.0005 | $1.0007 | $1.0004 |
Total Return2 | 2.82% | 4.25% | 0.29% | 0.05% | 1.39% | 2.43% |
Ratios to Average Net Assets: | ||||||
Net expenses3 | 0.18%4 | 0.18% | 0.16% | 0.15% | 0.15% | 0.15% |
Net investment income | 5.44%4 | 4.17% | 0.38% | 0.08% | 1.37% | 2.41% |
Expense waiver/ reimbursement5 | 0.07%4 | 0.10% | 0.12% | 0.13% | 0.13% | 0.13% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $21,003,133 | $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. Total returns for periods of less than one year are not annualized. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | Computed on an annualized basis. |
5 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Six Months Ended (unaudited) 1/31/2024 | Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $1.0001 | $0.9997 | $1.0005 | $1.0007 | $1.0004 | $1.0002 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.0261 | 0.0389 | 0.0019 | 0.0001 | 0.0112 | 0.0218 |
Net realized and unrealized gain (loss) | 0.0005 | 0.0003 | (0.0002) | (0.0002) | 0.0003 | 0.0002 |
Total From Investment Operations | 0.0266 | 0.0392 | 0.0017 | (0.0001) | 0.0115 | 0.0220 |
Less Distributions: | ||||||
Distributions from net investment income | (0.0261) | (0.0388) | (0.0025) | (0.0001) | (0.0112) | (0.0218) |
Net Asset Value, End of Period | $1.0006 | $1.0001 | $0.9997 | $1.0005 | $1.0007 | $1.0004 |
Total Return2 | 2.69% | 3.99% | 0.17% | (0.01)% | 1.15% | 2.22% |
Ratios to Average Net Assets: | ||||||
Net expenses3 | 0.43%4 | 0.43% | 0.26% | 0.24% | 0.40% | 0.37% |
Net investment income | 5.20%4 | 3.82% | 0.18% | 0.01% | 1.22% | 2.21% |
Expense waiver/reimbursement5 | 0.07%4 | 0.10% | 0.25% | 0.28% | 0.13% | 0.13% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $9,144 | $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. Total returns for periods of less than one year are not annualized. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | Computed on an annualized basis. |
5 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $7,063,023,000 |
Investment in securities | 13,940,996,294 |
Investment in securities, at value (identified cost $20,995,374,925) | 21,004,019,294 |
Cash | 981,520 |
Income receivable | 90,626,638 |
Total Assets | 21,095,627,452 |
Liabilities: | |
Payable for investments purchased | 6,120,000 |
Income distribution payable | 76,734,254 |
Payable for investment adviser fee (Note 5) | 57,557 |
Payable for administrative fee (Note 5) | 44,574 |
Payable for Directors’/Trustees’ fees (Note 5) | 17,830 |
Payable for other service fees (Notes 2 and 5) | 2,186 |
Accrued expenses (Note 5) | 373,787 |
Total Liabilities | 83,350,188 |
Net assets for 20,997,202,058 shares outstanding | $21,012,277,264 |
Net Assets Consist of: | |
Paid-in capital | $21,005,015,365 |
Total distributable earnings (loss) | 7,261,899 |
Total Net Assets | $21,012,277,264 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$21,003,133,305 ÷ 20,988,063,923 shares outstanding, no par value, unlimited shares authorized | $1.0007 |
Service Shares: | |
$9,143,959 ÷ 9,138,135 shares outstanding, no par value, unlimited shares authorized | $1.0006 |
Investment Income: | |
Interest | $547,098,494 |
Expenses: | |
Investment adviser fee (Note 5) | 16,180,001 |
Administrative fee (Note 5) | 7,564,352 |
Custodian fees | 242,522 |
Transfer agent fees | 36,555 |
Directors’/Trustees’ fees (Note 5) | 44,430 |
Auditing fees | 13,697 |
Legal fees | 5,282 |
Portfolio accounting fees | 136,310 |
Other service fees (Notes 2 and 5) | 11,938 |
Share registration costs | 164,094 |
Printing and postage | 11,831 |
Miscellaneous (Note 5) | 53,740 |
TOTAL EXPENSES | 24,464,752 |
Waiver: | |
Waiver of investment adviser fee (Note 5) | (6,473,551) |
Net expenses | 17,991,201 |
Net investment income | 529,107,293 |
Net change in unrealized depreciation of investments | 10,010,258 |
Change in net assets resulting from operations | $539,117,551 |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $529,107,293 | $649,548,033 |
Net realized gain (loss) | — | 15,265 |
Net change in unrealized appreciation/depreciation | 10,010,258 | 6,541,277 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 539,117,551 | 656,104,575 |
Distributions to Shareholders: | ||
Institutional Shares | (528,837,547) | (649,195,047) |
Service Shares | (250,894) | (426,273) |
Capital Shares1 | — | (4) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (529,088,441) | (649,621,324) |
Share Transactions: | ||
Proceeds from sale of shares | 19,509,710,198 | 28,884,149,698 |
Net asset value of shares issued to shareholders in payment of distributions declared | 83,675,697 | 118,901,284 |
Cost of shares redeemed | (16,295,072,951) | (25,550,445,108) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 3,298,312,944 | 3,452,605,874 |
Change in net assets | 3,308,342,054 | 3,459,089,125 |
Net Assets: | ||
Beginning of period | 17,703,935,210 | 14,244,846,085 |
End of period | $21,012,277,264 | $17,703,935,210 |
1 | On August 18, 2023, the Capital Shares were liquidated. |
Other Service Fees Incurred | |
Service Shares | $11,938 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 19,398,978,043 | $19,407,465,116 | 28,648,286,991 | $28,649,705,120 |
Shares issued to shareholders in payment of distributions declared | 83,471,418 | 83,514,503 | 118,642,194 | 118,655,465 |
Shares redeemed | (16,185,441,513) | (16,192,350,045) | (25,311,215,185) | (25,312,491,758) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 3,297,007,948 | $3,298,629,574 | 3,455,714,000 | $3,455,868,827 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 102,203,814 | $102,245,082 | 234,441,238 | $234,444,578 |
Shares issued to shareholders in payment of distributions declared | 161,130 | 161,194 | 245,807 | 245,819 |
Shares redeemed | (102,681,564) | (102,722,806) | (237,949,220) | (237,953,350) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (316,620) | $(316,530) | (3,262,175) | $(3,262,953) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | — | $— |
Shares issued to shareholders in payment of distributions declared | — | — | — | — |
Shares redeemed1 | (100) | (100) | — | — |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (100) | $(100) | — | $— |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 3,296,691,228 | $3,298,312,944 | 3,452,451,825 | $3,452,605,874 |
1 | On August 18, 2023, the Capital Shares were liquidated. |
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 |
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,028.20 | $0.92 |
Service Shares | $1,000 | $1,026.90 | $2.19 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,024.23 | $0.92 |
Service Shares | $1,000 | $1,022.97 | $2.19 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Institutional Shares | 0.18% |
Service Shares | 0.43% |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/fhilogok11p.jpg)
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N708
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/img6b7f1a431.gif)
Share Class | Ticker | Institutional | POIXX |
Federated Hermes Institutional Prime Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Other Repurchase Agreements and Repurchase Agreements | 33.6% |
Bank Instruments | 30.6% |
Variable Rate Instruments | 18.7% |
Commercial Paper | 16.3% |
U.S. Treasury Securities | 0.7% |
Asset-Backed Security | 0.1% |
Other Assets and Liabilities—Net2,3 | 0.0% |
TOTAL | 100% |
1 | See the Fund’s Prospectus and Statement of Additional Information for a description of these security types. |
2 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
3 | Represents less than 0.1%. |
Securities With an Effective Maturity of: | Percentage of Total Net Assets |
1-7 Days2 | 67.3% |
8-30 Days | 8.8% |
31-90 Days | 12.5% |
91-180 Days | 5.4% |
181 Days or more | 6.0% |
Other Assets and Liabilities—Net3,4 | 0.0% |
Total | 100% |
1 | Effective maturity is determined in accordance with the requirements of Rule 2a-7 under the Investment Company Act of 1940, which regulates money market mutual funds. |
2 | Overnight securities comprised 29.7% of the Fund’s portfolio. |
3 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
4 | Represents less than 0.1%. |
Principal Amount | Value | ||
CERTIFICATES OF DEPOSIT— 22.8% | |||
Finance - Banking— 22.8% | |||
$ 157,500,000 | Bank of America N.A., 5.180% - 6.000%, 6/17/2024 - 1/24/2025 | $ 157,680,370 | |
70,000,000 | Bank of America N.A., 5.440% - 6.000%, 2/7/2024 - 9/23/2024 | 70,121,450 | |
125,000,000 | Bank of Montreal, 5.820%, 5/28/2024 | 125,087,930 | |
70,000,000 | Bank of Nova Scotia, Toronto, 6.000%, 10/18/2024 | 70,349,219 | |
50,000,000 | BMO Bank, N.A., 6.000%, 9/9/2024 | 50,191,018 | |
250,000,000 | Canadian Imperial Bank of Commerce, 5.250% - 6.000%, 2/5/2024 - 10/17/2024 | 250,557,950 | |
320,000,000 | Citibank N.A., New York, 5.740% - 6.010%, 7/22/2024 - 9/18/2024 | 320,964,327 | |
755,000,000 | Credit Agricole Corporate and Investment Bank, 5.320% - 5.690%, 2/1/2024 - 2/7/2024 | 755,000,000 | |
142,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.710% - 5.800%, 4/24/2024 - 5/17/2024 | 142,091,218 | |
751,500,000 | Mizuho Bank, Ltd., 5.430% - 5.750%, 2/2/2024 - 4/17/2024 | 751,499,953 | |
562,000,000 | MUFG Bank, Ltd., 5.500% - 5.750%, 2/14/2024 - 3/28/2024 | 562,000,000 | |
948,500,000 | Sumitomo Mitsui Trust Bank, Ltd., 5.450% - 5.700%, 2/6/2024 - 4/18/2024 | 948,511,379 | |
169,500,000 | Svenska Handelsbanken, Stockholm, 5.800%, 4/4/2024 - 4/17/2024 | 169,624,917 | |
423,000,000 | Toronto Dominion Bank, 5.440% - 6.050%, 2/13/2024 - 10/3/2024 | 424,389,939 | |
TOTAL CERTIFICATES OF DEPOSIT (IDENTIFIED COST $4,794,000,000) | 4,798,069,670 | ||
1 | NOTES - VARIABLE— 18.7% | ||
Finance - Banking— 16.0% | |||
50,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 50,000,000 | |
71,000,000 | Bank of Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 71,000,000 | |
55,000,000 | Bank of Montreal, 5.910% (SOFR +0.600%), 2/1/2024 | 55,068,505 | |
40,000,000 | Bank of Montreal, 5.990% (SOFR +0.680%), 2/1/2024 | 40,043,754 | |
25,000,000 | Bank of Nova Scotia, Toronto, 5.620% (SOFR +0.310%), 2/1/2024 | 25,000,000 | |
73,000,000 | Bank of Nova Scotia, Toronto, 5.690% (SOFR +0.380%), 2/1/2024 | 73,000,000 | |
10,000,000 | Bank of Nova Scotia, Toronto, 5.720% (SOFR +0.410%), 2/1/2024 | 10,000,000 | |
50,000,000 | Bank of Nova Scotia, Toronto, 5.960% (SOFR +0.650%), 2/1/2024 | 50,093,527 | |
100,000,000 | 2 | Bank of Nova Scotia, Toronto, 5.970% (SOFR +0.660%), 2/1/2024 | 100,106,234 |
100,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 5.520% (SOFR +0.210%), 2/1/2024 | 100,009,588 | |
95,000,000 | Bedford Row Funding Corp., (GTD by Royal Bank of Canada), 5.710% (SOFR +0.400%), 2/1/2024 | 95,000,000 | |
175,000,000 | Canadian Imperial Bank of Commerce, 5.960% (SOFR +0.650%), 2/1/2024 | 175,212,240 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 75,000,000 | Canadian Imperial Bank of Commerce, 5.960% (SOFR +0.650%), 2/1/2024 | $ 75,099,800 | |
9,900,000 | City Furniture, Inc., (Wells Fargo Bank, N.A. LOC), 5.460%, 2/1/2024 | 9,900,000 | |
23,500,000 | Collateralized Commercial Paper FLEX Co., LLC, (J.P. Morgan Securities LLC COL), 5.730% (SOFR +0.420%), 2/1/2024 | 23,505,929 | |
23,500,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 23,505,623 | |
50,000,000 | Collateralized Commercial Paper V Co. LLC, (J.P. Morgan Securities LLC COL), 5.720% (SOFR +0.410%), 2/1/2024 | 50,013,584 | |
16,700,000 | Greene County Development Authority, Reynolds Lodge, LLC Series 2000B, (U.S. Bank, N.A. LOC), 5.330%, 2/7/2024 | 16,700,000 | |
7,595,000 | Gulf Gate Apartments, LLC, Series 2003, (Wells Fargo Bank, N.A. LOC), 5.440%, 2/1/2024 | 7,595,000 | |
10,580,000 | Hamilton Station Park and Ride, Series 2005, (Wells Fargo Bank, N.A. LOC), 5.440%, 2/1/2024 | 10,580,000 | |
35,943,000 | Iowa Student Loan Liquidity Corp., (Series 2023-1) Weekly VRDNs, (Royal Bank of Canada LOC), 5.380%, 2/1/2024 | 35,943,000 | |
55,000,000 | J.P. Morgan Securities LLC, 5.940% (SOFR +0.630%), 2/1/2024 | 55,055,518 | |
94,000,000 | J.P. Morgan Securities LLC, 5.940% (SOFR +0.630%), 2/1/2024 | 94,102,620 | |
100,000,000 | J.P. Morgan Securities LLC, 5.960% (SOFR +0.650%), 2/1/2024 | 100,096,884 | |
150,000,000 | J.P. Morgan Securities LLC, 5.970% (SOFR +0.660%), 2/1/2024 | 150,144,865 | |
67,500,000 | National Australia Bank Ltd., Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 67,500,000 | |
70,000,000 | National Australia Bank Ltd., Melbourne, 5.560% (SOFR +0.250%), 2/1/2024 | 70,000,000 | |
70,000,000 | National Australia Bank Ltd., Melbourne, 5.790% (SOFR +0.480%), 2/1/2024 | 70,116,685 | |
75,000,000 | National Bank of Canada, Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 75,000,000 | |
70,000,000 | National Bank of Canada, Montreal, 5.560% (SOFR +0.250%), 2/1/2024 | 70,000,000 | |
15,000,000 | Nordea Bank Abp, 5.460% (SOFR +0.150%), 2/1/2024 | 15,000,000 | |
34,000,000 | Nuveen Floating Rate, Income Fund, (Series A), (Sumitomo Mitsui Banking Corp. LOC), 5.500%, 2/1/2024 | 34,000,000 | |
40,000,000 | 2 | Ridgefield Funding Co., LLC Series A, (BNP Paribas S.A. COL), 5.590% (SOFR +0.280%), 2/1/2024 | 40,000,000 |
70,000,000 | Royal Bank of Canada, New York Branch, 5.910% (SOFR +0.600%), 2/1/2024 | 70,089,598 | |
18,965,000 | Salem Green, LLLP, Salem Green Apartments Project, Series 2010, (Wells Fargo Bank, N.A. LOC), 5.440%, 2/1/2024 | 18,965,000 | |
100,000,000 | State Street Bank and Trust Co., 5.480% (SOFR +0.170%), 2/1/2024 | 100,000,000 | |
400,000,000 | State Street Bank and Trust Co., 5.490% (SOFR +0.180%), 2/1/2024 | 400,021,424 | |
200,000,000 | Sumitomo Mitsui Banking Corp., 5.510% (SOFR +0.200%), 2/1/2024 | 200,000,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Finance - Banking— continued | |||
$ 2,654,151 | Taxable Tender Option Bond Trust 2021-MIZ9077TX, (Series 2021-MIZ9077TX) VRDNs, (Mizuho Bank, Ltd. LIQ)/(Mizuho Bank, Ltd. LOC), 5.580%, 2/1/2024 | $ 2,654,151 | |
2,207,606 | Taxable Tender Option Bond Trust 2021-MIZ9078TX, (Series 2021-MIZ9078TX) VRDNs, (Mizuho Bank, Ltd. LIQ)/(Mizuho Bank, Ltd. LOC), 5.580%, 2/1/2024 | 2,207,606 | |
50,000,000 | Toronto Dominion Bank, 5.990% (SOFR +0.680%), 2/1/2024 | 50,056,808 | |
45,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 45,118,405 | |
40,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 40,105,082 | |
200,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 200,420,668 | |
125,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 125,255,705 | |
70,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 70,147,648 | |
65,000,000 | Wells Fargo Bank, N.A., 5.910% (SOFR +0.600%), 2/1/2024 | 65,170,173 | |
30,000,000 | Wells Fargo Bank, N.A., 5.960% (SOFR +0.650%), 2/1/2024 | 30,059,823 | |
TOTAL | 3,358,665,447 | ||
Finance - Retail— 1.4% | |||
30,000,000 | Old Line Funding, LLC, 5.710% (SOFR +0.400%), 2/1/2024 | 30,009,728 | |
22,500,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 22,504,016 | |
17,500,000 | Old Line Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 17,509,021 | |
39,000,000 | Sheffield Receivables Co. LLC, 5.610% (SOFR +0.300%), 2/1/2024 | 39,000,000 | |
15,000,000 | Sheffield Receivables Co. LLC, 5.610% (SOFR +0.300%), 2/1/2024 | 15,000,000 | |
100,000,000 | Thunder Bay Funding, LLC, 5.530% (SOFR +0.220%), 2/1/2024 | 100,000,000 | |
50,000,000 | Thunder Bay Funding, LLC, 5.690% (SOFR +0.380%), 2/1/2024 | 50,019,008 | |
15,000,000 | Thunder Bay Funding, LLC, 5.740% (SOFR +0.430%), 2/1/2024 | 15,006,393 | |
TOTAL | 289,048,166 | ||
Government Agency— 1.3% | |||
17,035,000 | 1320 W Jefferson LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/7/2024 | 17,035,000 | |
51,450,000 | Archer 1 LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 51,450,000 | |
6,830,000 | Baker Life Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 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%, 2/1/2024 | 34,645,000 | |
6,500,000 | Carmel Valley Senior Living, LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 6,500,000 | |
5,705,000 | Catania Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 5,705,000 | |
4,120,000 | CP Canyons WFH, LLC, (Federal Home Loan Bank of Des Moines LOC)/(Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 4,120,000 |
Principal Amount | Value | ||
1 | NOTES - VARIABLE— continued | ||
Government Agency— continued | |||
$ 2,000,000 | Eagle Hesperia 55 II LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | $ 2,000,000 | |
4,270,000 | Jim Brooks Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 4,270,000 | |
11,570,000 | Joseph L. Goggins Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 11,570,000 | |
3,655,000 | Karyn Brooks Descendants Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 3,655,000 | |
6,380,000 | MHF DKF Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/7/2024 | 6,380,000 | |
17,030,000 | Mohr Green Associates, LP, 2012-A, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 17,030,000 | |
22,610,000 | NWD 2017 Family Trust No. 1, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 22,610,000 | |
9,080,000 | Park Stanton Place LP, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 9,080,000 | |
11,630,000 | Plaza Fitzsimons Owner, LLC, (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/7/2024 | 11,630,000 | |
5,010,000 | R.J. Brooks Jr. Irrevocable Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 5,010,000 | |
6,980,000 | RK Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 6,980,000 | |
6,500,000 | Rohnert Park 668, LP (Federal Home Loan Bank of San Francisco LOC), 5.460%, 2/1/2024 | 6,500,000 | |
6,255,000 | Sibley Family Irrevocable Insurance Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/1/2024 | 6,255,000 | |
5,120,000 | The Eugene Kim Irrevocable Life Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 5,120,000 | |
22,830,000 | The Gregory P. Berry Trust, (Federal Home Loan Bank of Des Moines LOC), 5.450%, 2/7/2024 | 22,830,000 | |
5,740,000 | The Leopold Family Insurance Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 5,740,000 | |
5,975,000 | The Thompson 2018 Family Trust, (Federal Home Loan Bank of Dallas LOC), 5.450%, 2/1/2024 | 5,975,000 | |
TOTAL | 278,920,000 | ||
TOTAL NOTES - VARIABLE (IDENTIFIED COST $3,923,964,757) | 3,926,633,613 | ||
3 | COMMERCIAL PAPER— 16.3% | ||
Finance - Banking— 10.8% | |||
292,500,000 | Anglesea Funding, LLC, 5.383% - 5.681%, 2/1/2024 - 3/4/2024 | 291,774,288 | |
117,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.802% - 5.935%, 5/1/2024 - 8/16/2024 | 114,750,055 | |
150,000,000 | Bank of Montreal, 5.980%, 8/1/2024 | 150,462,649 | |
75,000,000 | Bank of Nova Scotia, Toronto, 6.045%, 6/28/2024 | 73,372,154 | |
208,500,000 | BPCE S.A., 5.602%, 3/12/2024 | 207,222,358 |
Principal Amount | Value | ||
3 | COMMERCIAL PAPER— continued | ||
Finance - Banking— continued | |||
$ 375,000,000 | Canadian Imperial Bank of Commerce, 5.560% - 6.000%, 4/18/2024 - 7/1/2024 | $ 368,149,591 | |
40,000,000 | Citigroup Global Markets, Inc., 5.902%, 5/1/2024 | 39,452,834 | |
110,000,000 | DNB Bank ASA, 5.803%, 4/18/2024 | 108,745,986 | |
32,000,000 | DZ Bank AG Deutsche Zentral-Genossenschaftsbank, 5.333%, 2/29/2024 | 31,867,840 | |
35,000,000 | Great Bear Funding, LLC, (Bank of Nova Scotia, Toronto COL), 5.335%, 2/6/2024 | 34,974,090 | |
75,000,000 | Longship Funding, LLC, (Nordea Bank Abp COL), 5.326%, 2/7/2024 | 74,933,500 | |
366,000,000 | Nationwide Building Society, 5.325%, 2/13/2024 | 365,351,569 | |
25,000,000 | Nordea Bank Abp, 5.796%, 4/19/2024 | 24,710,474 | |
25,000,000 | Podium Funding Trust, 5.614% - 5.731%, 5/17/2024 - 6/10/2024 | 24,553,402 | |
99,500,000 | Royal Bank of Canada, 6.000% - 6.004%, 10/11/2024 - 10/16/2024 | 95,945,416 | |
160,000,000 | Toronto Dominion Bank, 5.801% - 6.004%, 5/16/2024 - 8/23/2024 | 156,165,336 | |
100,000,000 | Victory Receivables Corp., (MUFG Bank Ltd. LIQ), 5.703%, 2/20/2024 | 99,703,917 | |
TOTAL | 2,262,135,459 | ||
Finance - Commercial— 0.0% | |||
13,500,000 | Atlantic Asset Securitization, LLC, 5.471%, 2/20/2024 | 13,461,383 | |
Finance - Retail— 1.7% | |||
345,000,000 | Chariot Funding, LLC, 5.426% - 5.506%, 2/6/2024 - 4/29/2024 | 341,964,244 | |
11,000,000 | Fairway Finance Co., LLC, 5.810%, 4/17/2024 | 10,873,554 | |
TOTAL | 352,837,798 | ||
Pharmaceuticals and Health Care— 1.3% | |||
203,400,000 | Eli Lilly & Co., 5.322% - 5.342%, 2/15/2024 - 2/20/2024 | 202,932,887 | |
75,000,000 | Novartis Finance Corp., (Guaranteed by Novartis AG), 5.355% - 5.361%, 2/5/2024 - 2/13/2024 | 74,920,050 | |
TOTAL | 277,852,937 | ||
Sovereign— 2.5% | |||
298,000,000 | BNG Bank N.V., 5.337% - 5.356%, 2/7/2024 - 2/13/2024 | 297,633,677 | |
90,000,000 | Caisse des Depots et Consignations (CDC), 5.347% - 5.348%, 2/28/2024 - 2/29/2024 | 89,633,906 | |
35,000,000 | Erste Abwicklungsanstalt, 5.358%, 2/15/2024 | 34,927,385 | |
100,000,000 | NRW.Bank, 5.657%, 2/12/2024 | 99,830,417 | |
TOTAL | 522,025,385 | ||
TOTAL COMMERCIAL PAPER (IDENTIFIED COST $3,426,423,828) | 3,428,312,962 | ||
TIME DEPOSITS— 7.7% | |||
Finance - Banking— 7.7% | |||
1,050,000,000 | ABN Amro Bank NV, 5.310% - 5.330%, 2/1/2024 - 2/5/2024 | 1,050,000,000 | |
400,000,000 | Australia & New Zealand Banking Group, Melbourne, 5.320%, 2/1/2024 - 2/7/2024 | 400,000,000 |
Principal Amount | Value | ||
TIME DEPOSITS— continued | |||
Finance - Banking— continued | |||
$ 170,000,000 | Mizuho Bank, Ltd., 5.330%, 2/1/2024 | $ 170,000,000 | |
TOTAL TIME DEPOSITS (IDENTIFIED COST $1,620,000,000) | 1,620,000,000 | ||
U.S. TREASURY— 0.7% | |||
U.S. Treasury Bills— 0.7% | |||
150,000,000 | United States Treasury Bill, 5.290%, 2/6/2024 (IDENTIFIED COST $149,889,792) | 149,889,792 | |
ASSET-BACKED SECURITY— 0.1% | |||
Auto Receivables— 0.1% | |||
18,073,548 | Enterprise Fleet Financing, LLC 2023-3, Class A1, 5.906%, 10/21/2024 (IDENTIFIED COST $18,073,548) | 18,090,257 | |
OTHER REPURCHASE AGREEMENTS— 13.8% | |||
Finance - Banking— 13.8% | |||
25,000,000 | BMO Capital Markets Corp., 5.41%, dated 1/31/2024, interest in a $550,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $550,082,653 on 2/1/2024, in which asset-backed securities, corporate bonds, collateralized mortgage obligations, sovereign debt and U.S. Government Agency securities with a market value of $561,084,532 have been received as collateral and held with BNY Mellon as tri-party agent. | 25,000,000 | |
50,000,000 | BNP Paribas S.A., 5.46%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,750 on 2/1/2024, in which asset-backed securities and corporate bonds with a market value of $153,023,237 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
362,371,000 | BNP Paribas S.A., 5.39%, dated 1/31/2024, interest in a $1,275,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,275,190,896 on 2/1/2024, in which asset-backed securities, collateralized mortgage obligations, corporate bonds, medium-term notes and sovereign debt with a market value of $1,300,694,714 have been received as collateral and held with BNY Mellon as tri-party agent. | 362,371,000 | |
35,000,000 | BofA Securities, Inc., 5.37%, dated 1/31/2024, interest in a $60,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $60,008,950 on 2/1/2024, in which corporate bonds and medium-term notes with a market value of $61,209,195 have been received as collateral and held with BNY Mellon as tri-party agent. | 35,000,000 | |
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 5/1/2024, in which American depositary receipts, convertible bonds and medium-term notes with a market value of $102,504,504 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 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 2/8/2024, in which asset-backed securities, corporate bonds and medium-term notes with a market value of $168,325,292 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 150,000,000 | |
150,000,000 | BofA Securities, Inc., 5.94%, dated 1/29/2024, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $152,227,500 on 5/1/2024, in which asset-backed securities, corporate bonds and medium-term notes with a market value of $153,075,608 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
150,000,000 | BofA Securities, Inc., 5.39%, dated 1/31/2024, interest in a $150,000,000 collateralized loan agreement will repurchase securities provided as collateral for $150,022,458 on 2/1/2024, in which asset-backed securities, corporate bonds and medium-term notes with a market value of $153,022,909 have been received as collateral and held with BNY Mellon as tri-party agent. | 150,000,000 | |
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 5/1/2024, in which American depositary receipts, convertible bonds and sovereign debt with a market value of $256,261,258 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
60,000,000 | Citigroup Global Markets, Inc., 5.50%, dated 11/7/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,320,833 on 2/8/2024, in which American depositary receipts, common stocks, treasury bonds and treasury notes with a market value of $307,401,971 have been received as collateral and held with BNY Mellon as tri-party agent. | 60,000,000 | |
350,000,000 | Citigroup Global Markets, Inc., 5.46%, dated 1/31/2024, interest in a $500,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $500,075,833 on 2/1/2024, in which American depositary receipts, common stocks, convertible bond, exchange-traded funds, mutual funds, treasury bills, treasury bonds and treasury notes with a market value of $510,078,106 have been received as collateral and held with BNY Mellon as tri-party agent. | 350,000,000 | |
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 2/8/2024, in which asset-backed securities, corporate bonds and medium-term notes with a market value of $204,030,997 have been received as collateral and held with BNY Mellon as tri-party agent. | 65,000,000 | |
100,000,000 | Credit Agricole S.A., 5.37%, dated 8/9/2023, interest in a $300,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $300,313,250 on 2/8/2024, in which asset-backed securities and collateralized mortgage obligations with a market value of $306,045,645 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 100,000,000 | Credit Agricole S.A., 5.37%, dated 10/19/2023, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,261,042 on 2/8/2024, in which asset-backed securities and collateralized mortgage obligations with a market value of $255,038,038 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 100,000,000 | |
50,000,000 | HSBC Securities (USA), Inc., 5.41%, dated 1/31/2024, interest in a $365,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $365,054,851 on 2/1/2024, in which corporate bonds and medium-term notes with a market value of $372,300,773 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
28,910,000 | ING Financial Markets LLC, 5.39%, dated 1/31/2024, interest in a $30,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $30,004,492 on 2/1/2024, in which corporate bonds with a market value of $30,604,989 have been received as collateral and held with BNY Mellon as tri-party agent. | 28,910,000 | |
250,000,000 | J.P. Morgan Securities LLC, 5.54%, dated 1/18/2024, interest in a $1,000,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $1,005,386,111 on 2/22/2024, in which corporate bonds and medium-term notes with a market value of $1,200,000,001 have been received as collateral and held with BNY Mellon as tri-party agent. | 250,000,000 | |
50,000,000 | Mizuho Securities USA LLC, 5.41%, dated 1/31/2024, interest in a $250,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $250,037,569 on 2/1/2024, in which asset-backed securities, collateralized mortgage obligations and corporate bond with a market value of $255,038,321 have been received as collateral and held with BNY Mellon as tri-party agent. | 50,000,000 | |
85,000,000 | Mizuho Securities USA LLC, 5.46%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,750 on 2/1/2024, in which convertible bonds with a market value of $153,023,355 have been received as collateral and held with BNY Mellon as tri-party agent. | 85,000,000 | |
36,371,000 | Mitsubishi UFG Securities Americas Inc., 5.46%, dated 1/31/2024, interest in a $400,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $400,060,667 on 2/1/2024, in which asset-backed securities, common stocks, convertible bond, exchange-traded funds and mutual fund with a market value of $408,061,880 have been received as collateral and held with BNY Mellon as tri-party agent. | 36,371,000 |
Principal Amount | Value | ||
OTHER REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 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 2/8/2024, in which asset-backed securities, common stocks, collateralized mortgage obligations, corporate bonds, convertible bond, commercial paper, certificate of deposit, exchange-traded funds, medium-term notes, municipal bonds and U.S. Government Agency securities with a market value of $306,210,617 have been received as collateral and held with BNY Mellon as tri-party agent. | $ 135,000,000 | |
87,371,000 | Standard Chartered Bank, 5.38%, dated 1/31/2024, interest in a $150,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $150,022,417 on 2/1/2024, in which U.S. Government Agency securities, treasury bond and treasury note with a market value of $153,022,896 have been received as collateral and held with BNY Mellon as tri-party agent. | 87,371,000 | |
100,000,000 | TD Securities (USA), LLC, 5.39%, dated 1/31/2024, interest in a $500,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $500,074,861 on 2/1/2024, in which corporate bonds, medium-term notes and municipal bonds with a market value of $510,077,188 have been received as collateral and held with BNY Mellon as tri-party agent. | 100,000,000 | |
125,000,000 | Wells Fargo Securities LLC, 5.84%, dated 2/3/2022, interest in a $125,000,000 collateralized loan agreement will repurchase securities provided as collateral for $126,825,000 on 4/8/2024, in which treasury bills with a market value of $127,975,809 have been received as collateral and held with BNY Mellon as tri-party agent. | 125,000,000 | |
TOTAL OTHER REPURCHASE AGREEMENTS (IDENTIFIED COST $3,345,023,000) | 2,895,023,000 | ||
REPURCHASE AGREEMENTS— 19.9% | |||
Finance - Banking— 19.9% | |||
500,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Bank of Montreal will repurchase securities provided as collateral for $2,000,295,556 on 2/1/2024. 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 1/20/2073 and the market value of those underlying securities was $2,047,391,893. | 500,000,000 | |
500,000,000 | Interest in $1,150,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,150,169,944 on 2/1/2024. 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 $1,173,241,613. | 500,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
Finance - Banking— continued | |||
$ 500,000,000 | Interest in $5,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which J.P. Morgan Securities LLC will repurchase securities provided as collateral for $5,000,737,500 on 2/1/2024. 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 10/15/2028 and the market value of those underlying securities was $5,100,000,047. | $ 500,000,000 | |
500,000,000 | Interest in $1,550,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Mizuho Securities USA LLC will repurchase securities provided as collateral for $1,550,229,056 on 2/1/2024. 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 4/16/2062 and the market value of those underlying securities was $1,585,489,519. | 500,000,000 | |
500,000,000 | Interest in $5,000,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Morgan Stanley & Co. LLC will repurchase securities provided as collateral for $5,000,738,889 on 2/1/2024. 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 7/1/2061 and the market value of those underlying securities was $5,100,000,000. | 500,000,000 | |
500,000,000 | Interest in $1,250,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Mitsubishi UFG Securities (USA), Inc. will repurchase securities provided as collateral for $1,250,184,722 on 2/1/2024. 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 10/20/2053 and the market value of those underlying securities was $1,287,690,264. | 500,000,000 | |
1,168,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 5/15/2048 and the market value of those underlying securities was $6,123,715,761. | 1,168,000,000 | |
TOTAL REPURCHASE AGREEMENTS (IDENTIFIED COST $3,718,000,000) | 4,168,000,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.0% (IDENTIFIED COST $20,995,374,925)4 | 21,004,019,294 | ||
OTHER ASSETS AND LIABILITIES - NET—0.0%5 | 8,257,970 | ||
TOTAL NET ASSETS—100% | $21,012,277,264 |
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 January 31, 2024, these restricted securities amounted to $140,106,234, which represented 0.7% 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 | |
CP | —Commercial Paper | |
GTD | —Guaranteed | |
LIQ | —Liquidity Agreement | |
LOC | —Letter of Credit | |
MHF | —Maryland Housing Fund | |
SOFR | —Secured Overnight Financing Rate | |
VRDNs | —Variable Rate Demand Notes |
Six Months Ended (unaudited) 1/31/2024 | Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $1.0002 | $0.9998 | $1.0005 | $1.0007 | $1.0004 | $1.0003 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.0273 | 0.0413 | 0.0037 | 0.0008 | 0.0136 | 0.0239 |
Net realized and unrealized gain (loss) | 0.0006 | 0.0004 | (0.0008) | (0.0002) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0279 | 0.0417 | 0.0029 | 0.0006 | 0.0139 | 0.0240 |
Less Distributions: | ||||||
Distributions from net investment income | (0.0274) | (0.0413) | (0.0036) | (0.0008) | (0.0136) | (0.0239) |
Net Asset Value, End of Period | $1.0007 | $1.0002 | $0.9998 | $1.0005 | $1.0007 | $1.0004 |
Total Return2 | 2.82% | 4.25% | 0.29% | 0.05% | 1.39% | 2.43% |
Ratios to Average Net Assets: | ||||||
Net expenses3 | 0.18%4 | 0.18% | 0.16% | 0.15% | 0.15% | 0.15% |
Net investment income | 5.44%4 | 4.17% | 0.38% | 0.08% | 1.37% | 2.41% |
Expense waiver/ reimbursement5 | 0.07%4 | 0.10% | 0.12% | 0.13% | 0.13% | 0.13% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $21,003,133 | $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. Total returns for periods of less than one year are not annualized. |
3 | Amount does not reflect net expenses incurred by investment companies in which the Fund may invest. |
4 | Computed on an annualized basis. |
5 | This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/reimbursement recorded by investment companies in which the Fund may invest. |
Assets: | |
Investment in repurchase agreements and other repurchase agreements | $7,063,023,000 |
Investment in securities | 13,940,996,294 |
Investment in securities, at value (identified cost $20,995,374,925) | 21,004,019,294 |
Cash | 981,520 |
Income receivable | 90,626,638 |
Total Assets | 21,095,627,452 |
Liabilities: | |
Payable for investments purchased | 6,120,000 |
Income distribution payable | 76,734,254 |
Payable for investment adviser fee (Note 5) | 57,557 |
Payable for administrative fee (Note 5) | 44,574 |
Payable for Directors’/Trustees’ fees (Note 5) | 17,830 |
Payable for other service fees (Notes 2 and 5) | 2,186 |
Accrued expenses (Note 5) | 373,787 |
Total Liabilities | 83,350,188 |
Net assets for 20,997,202,058 shares outstanding | $21,012,277,264 |
Net Assets Consist of: | |
Paid-in capital | $21,005,015,365 |
Total distributable earnings (loss) | 7,261,899 |
Total Net Assets | $21,012,277,264 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$21,003,133,305 ÷ 20,988,063,923 shares outstanding, no par value, unlimited shares authorized | $1.0007 |
Service Shares: | |
$9,143,959 ÷ 9,138,135 shares outstanding, no par value, unlimited shares authorized | $1.0006 |
Investment Income: | |
Interest | $547,098,494 |
Expenses: | |
Investment adviser fee (Note 5) | 16,180,001 |
Administrative fee (Note 5) | 7,564,352 |
Custodian fees | 242,522 |
Transfer agent fees | 36,555 |
Directors’/Trustees’ fees (Note 5) | 44,430 |
Auditing fees | 13,697 |
Legal fees | 5,282 |
Portfolio accounting fees | 136,310 |
Other service fees (Notes 2 and 5) | 11,938 |
Share registration costs | 164,094 |
Printing and postage | 11,831 |
Miscellaneous (Note 5) | 53,740 |
TOTAL EXPENSES | 24,464,752 |
Waiver: | |
Waiver of investment adviser fee (Note 5) | (6,473,551) |
Net expenses | 17,991,201 |
Net investment income | 529,107,293 |
Net change in unrealized depreciation of investments | 10,010,258 |
Change in net assets resulting from operations | $539,117,551 |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $529,107,293 | $649,548,033 |
Net realized gain (loss) | — | 15,265 |
Net change in unrealized appreciation/depreciation | 10,010,258 | 6,541,277 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 539,117,551 | 656,104,575 |
Distributions to Shareholders: | ||
Institutional Shares | (528,837,547) | (649,195,047) |
Service Shares | (250,894) | (426,273) |
Capital Shares1 | — | (4) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (529,088,441) | (649,621,324) |
Share Transactions: | ||
Proceeds from sale of shares | 19,509,710,198 | 28,884,149,698 |
Net asset value of shares issued to shareholders in payment of distributions declared | 83,675,697 | 118,901,284 |
Cost of shares redeemed | (16,295,072,951) | (25,550,445,108) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 3,298,312,944 | 3,452,605,874 |
Change in net assets | 3,308,342,054 | 3,459,089,125 |
Net Assets: | ||
Beginning of period | 17,703,935,210 | 14,244,846,085 |
End of period | $21,012,277,264 | $17,703,935,210 |
1 | On August 18, 2023, the Capital Shares were liquidated. |
Other Service Fees Incurred | |
Service Shares | $11,938 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 19,398,978,043 | $19,407,465,116 | 28,648,286,991 | $28,649,705,120 |
Shares issued to shareholders in payment of distributions declared | 83,471,418 | 83,514,503 | 118,642,194 | 118,655,465 |
Shares redeemed | (16,185,441,513) | (16,192,350,045) | (25,311,215,185) | (25,312,491,758) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 3,297,007,948 | $3,298,629,574 | 3,455,714,000 | $3,455,868,827 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 102,203,814 | $102,245,082 | 234,441,238 | $234,444,578 |
Shares issued to shareholders in payment of distributions declared | 161,130 | 161,194 | 245,807 | 245,819 |
Shares redeemed | (102,681,564) | (102,722,806) | (237,949,220) | (237,953,350) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (316,620) | $(316,530) | (3,262,175) | $(3,262,953) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | — | $— | — | $— |
Shares issued to shareholders in payment of distributions declared | — | — | — | — |
Shares redeemed1 | (100) | (100) | — | — |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | (100) | $(100) | — | $— |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 3,296,691,228 | $3,298,312,944 | 3,452,451,825 | $3,452,605,874 |
1 | On August 18, 2023, the Capital Shares were liquidated. |
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 |
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,028.20 | $0.92 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,024.23 | $0.92 |
1 | Expenses are equal to the Fund’s Institutional annualized net expense ratio of 0.18%, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). |
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Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
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Share Class | Ticker | Institutional | PVOXX | Service | PVSXX | Capital | PVCXX |
Federated Hermes Institutional Prime Value Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets2 |
Other Repurchase Agreements and Repurchase Agreements | 33.8% |
Bank Instruments | 30.2% |
Variable Rate Instruments | 18.4% |
Commercial Paper | 16.1% |
U.S Treasury | 0.7% |
Asset Backed Securities | 0.1% |
Other Assets and Liabilities—Net3 | 0.7% |
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— 98.7% | |||
15,047,269,047 | Federated Hermes Institutional Prime Obligations Fund, Institutional Shares, 5.42%1 (IDENTIFIED COST $15,056,319,946) | $15,057,802,135 | |
OTHER REPURCHASE AGREEMENTS— 0.3% | |||
Finance - Banking— 0.3% | |||
$ 50,000,000 | HSBC Securities (USA), Inc., 5.49%, dated 1/31/2024, interest in a $365,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $365,054,851 on 2/1/2024, in which corporate bonds and medium-term notes with a market value of $372,300,773 have been received as collateral and held with BNY Mellon as tri-party agent. (IDENTIFIED COST $50,000,000) | 50,000,000 | |
REPURCHASE AGREEMENT— 0.3% | |||
Finance - Banking— 0.3% | |||
50,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp. will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 11/20/2051 and the market value of those underlying securities was $3,063,264,328. (IDENTIFIED COST $50,000,000) | 50,000,000 | |
TOTAL INVESTMENT IN SECURITIES—99.3% (IDENTIFIED COST $15,156,319,946)2 | 15,157,802,135 | ||
OTHER ASSETS AND LIABILITIES - NET—0.7%3 | 100,482,133 | ||
TOTAL NET ASSETS—100% | $15,258,284,268 |
Federated Hermes Institutional Prime Obligations Fund, Institutional Shares | |
Value as of 7/31/2023 | $12,706,774,515 |
Purchases at Cost | $6,388,573,500 |
Proceeds from Sales | $(4,044,713,000) |
Change in Unrealized Appreciation/Depreciation | $6,225,656 |
Net Realized Gain/(Loss) | $941,464 |
Value as of 1/31/2024 | $15,057,802,135 |
Shares Held as of 1/31/2024 | 15,047,269,047 |
Dividend Income | $391,613,520 |
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 January 31, 2024, 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 | |
Other Repurchase Agreements | $— | $50,000,000 | $— | $50,000,000 |
Repurchase Agreements | — | 50,000,000 | — | 50,000,000 |
Investment Company | 15,057,802,135 | — | — | 15,057,802,135 |
TOTAL SECURITIES | $15,057,802,135 | $100,000,000 | $— | $15,157,802,135 |
Six Months Ended (unaudited) 1/31/2024 | Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $0.9999 | $0.9995 | $1.0004 | $1.0006 | $1.0003 | $1.0002 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.0274 | 0.0413 | 0.0036 | 0.0008 | 0.0136 | 0.0239 |
Net realized and unrealized gain (loss) | 0.0005 | 0.0004 | (0.0008) | (0.0002) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0279 | 0.0417 | 0.0028 | 0.0006 | 0.0139 | 0.0240 |
Less Distributions: | ||||||
Distributions from net investment income | (0.0274) | (0.0413) | (0.0036) | (0.0008) | (0.0136) | (0.0239) |
Distributions from net realized gain | — | — | (0.0001) | (0.0000)2 | (0.0000)2 | (0.0000)2 |
Total Distributions | (0.0274) | (0.0413) | (0.0037) | (0.0008) | (0.0136) | (0.0239) |
Net Asset Value, End of Period | $1.0004 | $0.9999 | $0.9995 | $1.0004 | $1.0006 | $1.0003 |
Total Return3 | 2.82% | 4.25% | 0.28% | 0.06% | 1.39% | 2.43% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.00%5,6 | 0.00%6 | —% | —% | 0.00%6 | —% |
Net investment income | 5.44%5 | 4.18% | 0.35% | 0.08% | 1.36% | 2.41% |
Expense waiver/ reimbursement7 | 0.25%5 | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $14,541,055 | $12,250,590 | $9,946,892 | $12,120,572 | $15,937,441 | $13,599,422 |
1 | Per share numbers have been calculated using the average shares method. |
2 | Represents less than $0.0001. |
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 | Represents less than 0.01%. |
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. |
Six Months Ended (unaudited) 1/31/2024 | Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $0.9999 | $0.9995 | $1.0003 | $1.0006 | $1.0003 | $1.0002 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.0261 | 0.0388 | 0.0025 | 0.0002 | 0.0111 | 0.0214 |
Net realized and unrealized gain (loss) | 0.0005 | 0.0004 | (0.0007) | (0.0003) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0266 | 0.0392 | 0.0018 | (0.0001) | 0.0114 | 0.0215 |
Less Distributions: | ||||||
Distributions from net investment income | (0.0261) | (0.0388) | (0.0025) | (0.0002) | (0.0111) | (0.0214) |
Distributions from net realized gain | — | — | (0.0001) | (0.0000)2 | (0.0000)2 | (0.0000)2 |
Total Distributions | (0.0261) | (0.0388) | (0.0026) | (0.0002) | (0.0111) | (0.0214) |
Net Asset Value, End of Period | $1.0004 | $0.9999 | $0.9995 | $1.0003 | $1.0006 | $1.0003 |
Total Return3 | 2.69% | 3.99% | 0.18% | (0.01)% | 1.14% | 2.18% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.25%5 | 0.25% | 0.09% | 0.08% | 0.25% | 0.25% |
Net investment income | 5.19%5 | 4.01% | 0.19% | 0.01% | 1.04% | 2.20% |
Expense waiver/reimbursement6 | 0.25%5 | 0.29% | 0.45% | 0.46% | 0.29% | 0.29% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $710,855 | $567,683 | $372,511 | $701,955 | $1,687,886 | $1,055,438 |
1 | Per share numbers have been calculated using the average shares method. |
2 | Represents less than $0.0001. |
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. |
Six Months Ended (unaudited) 1/31/2024 | Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $0.9998 | $0.9994 | $1.0003 | $1.0006 | $1.0003 | $1.0002 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.0269 | 0.0402 | 0.0028 | 0.0003 | 0.0126 | 0.0230 |
Net realized and unrealized gain (loss) | 0.0005 | 0.0005 | (0.0006) | (0.0003) | 0.0003 | (0.0000)2 |
Total From Investment Operations | 0.0274 | 0.0407 | 0.0022 | — | 0.0129 | 0.0230 |
Less Distributions: | ||||||
Distributions from net investment income | (0.0269) | (0.0403) | (0.0030) | (0.0003) | (0.0126) | (0.0229) |
Distributions from net realized gain | — | — | (0.0001) | (0.0000)2 | (0.0000)2 | (0.0000)2 |
Total Distributions | (0.0269) | (0.0403) | (0.0031) | (0.0003) | (0.0126) | (0.0229) |
Net Asset Value, End of Period | $1.0003 | $0.9998 | $0.9994 | $1.0003 | $1.0006 | $1.0003 |
Total Return3 | 2.77% | 4.15% | 0.23% | 0.00%4 | 1.29% | 2.33% |
Ratios to Average Net Assets: | ||||||
Net expenses5 | 0.10%6 | 0.10% | 0.05% | 0.06% | 0.10% | 0.10% |
Net investment income | 5.34%6 | 3.90% | 0.19% | 0.02% | 1.24% | 2.31% |
Expense waiver/reimbursement7 | 0.25%6 | 0.29% | 0.34% | 0.33% | 0.29% | 0.29% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $6,375 | $5,944 | $8,942 | $20,922 | $19,074 | $16,566 |
1 | Per share numbers have been calculated using the average shares method. |
2 | Represents less than $0.0001. |
3 | Based on net asset value. Total returns for periods of less than one year are not annualized. |
4 | Represents less than 0.01%. |
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. |
Assets: | |
Investment in securities, at value including $15,057,802,135 of investments in affiliated holdings* (identified cost $15,156,319,946, including $15,056,319,946 of identified cost in affiliated holdings) | $15,157,802,135 |
Cash | 831,223 |
Income receivable | 14,889 |
Income receivable from affiliated holdings | 69,478,643 |
Receivable for shares sold | 122,713,579 |
Total Assets | 15,350,840,469 |
Liabilities: | |
Payable for shares redeemed | 50,189,231 |
Income distribution payable | 41,793,662 |
Payable to investment adviser (Note 5) | 59,409 |
Payable for administrative fee (Note 5) | 32,179 |
Payable for Directors’/Trustees’ fees (Note 5) | 12,973 |
Payable for other service fees (Notes 2 and 5) | 184,926 |
Accrued expenses (Note 5) | 283,821 |
Total Liabilities | 92,556,201 |
Net assets for 15,252,436,975 shares outstanding | $15,258,284,268 |
Net Assets Consist of: | |
Paid-in capital | $15,256,166,861 |
Total distributable earnings (loss) | 2,117,407 |
Total Net Assets | $15,258,284,268 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$14,541,054,916 ÷ 14,535,480,647 shares outstanding, no par value, unlimited shares authorized | $1.0004 |
Service Shares: | |
$710,854,761 ÷ 710,583,909 shares outstanding, no par value, unlimited shares authorized | $1.0004 |
Capital Shares: | |
$6,374,591 ÷ 6,372,419 shares outstanding, no par value, unlimited shares authorized | $1.0003 |
* | See information listed after the Fund’s Portfolio of Investments. |
Investment Income: | |
Dividends received from affiliated holdings* | $391,613,520 |
Interest | 2,111,907 |
TOTAL INCOME | 393,725,427 |
Expenses: | |
Investment adviser fee (Note 5) | 12,001,266 |
Administrative fee (Note 5) | 5,628,525 |
Custodian fees | 194,511 |
Transfer agent fees | 54,418 |
Directors’/Trustees’ fees (Note 5) | 32,606 |
Auditing fees | 13,698 |
Legal fees | 5,280 |
Portfolio accounting fees | 109,692 |
Other service fees (Notes 2 and 5) | 820,228 |
Share registration costs | 255,177 |
Printing and postage | 27,061 |
Miscellaneous (Note 5) | 47,883 |
TOTAL EXPENSES | 19,190,345 |
Waiver and Reimbursements: | |
Waiver/reimbursement of investment adviser fee (Note 5) | (12,001,266) |
Reimbursement of other operating expenses (Notes 2 and 5) | (6,368,851) |
TOTAL WAIVER AND REIMBURSEMENTS | (18,370,117) |
Net expenses | 820,228 |
Net investment income | 392,905,199 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments in affiliated holdings* | 941,464 |
Net change in unrealized depreciation of investments in affiliated holdings* | 6,225,656 |
Net realized and unrealized gain (loss) on investments | 7,167,120 |
Change in net assets resulting from operations | $400,072,319 |
* | See information listed after the Fund’s Portfolio of Investments. |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $392,905,199 | $475,122,629 |
Net realized gain (loss) | 941,464 | 1,125,534 |
Net change in unrealized appreciation/depreciation | 6,225,656 | 3,395,030 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 400,072,319 | 479,643,193 |
Distributions to Shareholders: | ||
Institutional Shares | (375,656,148) | (456,986,602) |
Service Shares | (17,078,441) | (17,839,842) |
Capital Shares | (165,497) | (297,852) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (392,900,086) | (475,124,296) |
Share Transactions: | ||
Proceeds from sale of shares | 22,534,269,556 | 41,835,474,572 |
Net asset value of shares issued to shareholders in payment of distributions declared | 157,008,754 | 169,328,107 |
Cost of shares redeemed | (20,264,383,737) | (39,513,449,330) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 2,426,894,573 | 2,491,353,349 |
Change in net assets | 2,434,066,806 | 2,495,872,246 |
Net Assets: | ||
Beginning of period | 12,824,217,462 | 10,328,345,216 |
End of period | $15,258,284,268 | $12,824,217,462 |
Other Service Fees Incurred | |
Service Shares | $817,130 |
Capital Shares | 3,098 |
TOTAL | $820,228 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 21,909,802,763 | $21,912,781,440 | 41,150,980,564 | $41,141,014,548 |
Shares issued to shareholders in payment of distributions declared | 140,267,424 | 140,296,840 | 151,505,640 | 151,478,912 |
Shares redeemed | (19,766,621,981) | (19,769,453,890) | (39,002,504,601) | (38,993,166,012) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 2,283,448,206 | $2,283,624,390 | 2,299,981,603 | $2,299,327,448 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 620,298,729 | $620,419,352 | 691,989,213 | $691,857,989 |
Shares issued to shareholders in payment of distributions declared | 16,542,925 | 16,546,417 | 17,554,792 | 17,551,569 |
Shares redeemed | (494,008,248) | (494,122,935) | (514,497,010) | (514,381,513) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 142,833,406 | $142,842,834 | 195,046,995 | $195,028,045 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,068,897 | $1,068,764 | 2,603,475 | $2,602,035 |
Shares issued to shareholders in payment of distributions declared | 165,476 | 165,497 | 297,715 | 297,626 |
Shares redeemed | (807,040) | (806,912) | (5,902,912) | (5,901,805) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 427,333 | $427,349 | (3,001,722) | $(3,002,144) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 2,426,708,945 | $2,426,894,573 | 2,492,026,876 | $2,491,353,349 |
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 |
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,028.20 | $—2 |
Service Shares | $1,000 | $1,026.90 | $1.273 |
Capital Shares | $1,000 | $1,027.70 | $0.514 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,025.14 | $—2 |
Service Shares | $1,000 | $1,023.88 | $1.273 |
Capital Shares | $1,000 | $1,024.63 | $0.514 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Institutional Shares | 0.00% |
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 184/366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.02 and $1.02, 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 184/366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.29 and $2.29, 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 184/366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.53 and $1.53, 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. |
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. |
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 |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/kpmgsig.jpg)
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 |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/fhilogok11p.jpg)
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
CUSIP 60934N575
CUSIP 60934N567
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/imgd6db90a31.gif)
Share Class | Ticker | Institutional | PVOXX |
Federated Hermes Institutional Prime Value Obligations Fund
A Portfolio of Federated Hermes Money Market Obligations Trust
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets2 |
Other Repurchase Agreements and Repurchase Agreements | 33.8% |
Bank Instruments | 30.2% |
Variable Rate Instruments | 18.4% |
Commercial Paper | 16.1% |
U.S Treasury | 0.7% |
Asset Backed Securities | 0.1% |
Other Assets and Liabilities—Net3 | 0.7% |
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— 98.7% | |||
15,047,269,047 | Federated Hermes Institutional Prime Obligations Fund, Institutional Shares, 5.42%1 (IDENTIFIED COST $15,056,319,946) | $15,057,802,135 | |
OTHER REPURCHASE AGREEMENTS— 0.3% | |||
Finance - Banking— 0.3% | |||
$ 50,000,000 | HSBC Securities (USA), Inc., 5.49%, dated 1/31/2024, interest in a $365,000,000 joint collateralized loan agreement will repurchase securities provided as collateral for $365,054,851 on 2/1/2024, in which corporate bonds and medium-term notes with a market value of $372,300,773 have been received as collateral and held with BNY Mellon as tri-party agent. (IDENTIFIED COST $50,000,000) | 50,000,000 | |
REPURCHASE AGREEMENT— 0.3% | |||
Finance - Banking— 0.3% | |||
50,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp. will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 11/20/2051 and the market value of those underlying securities was $3,063,264,328. (IDENTIFIED COST $50,000,000) | 50,000,000 | |
TOTAL INVESTMENT IN SECURITIES—99.3% (IDENTIFIED COST $15,156,319,946)2 | 15,157,802,135 | ||
OTHER ASSETS AND LIABILITIES - NET—0.7%3 | 100,482,133 | ||
TOTAL NET ASSETS—100% | $15,258,284,268 |
Federated Hermes Institutional Prime Obligations Fund, Institutional Shares | |
Value as of 7/31/2023 | $12,706,774,515 |
Purchases at Cost | $6,388,573,500 |
Proceeds from Sales | $(4,044,713,000) |
Change in Unrealized Appreciation/Depreciation | $6,225,656 |
Net Realized Gain/(Loss) | $941,464 |
Value as of 1/31/2024 | $15,057,802,135 |
Shares Held as of 1/31/2024 | 15,047,269,047 |
Dividend Income | $391,613,520 |
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 January 31, 2024, 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 | |
Other Repurchase Agreements | $— | $50,000,000 | $— | $50,000,000 |
Repurchase Agreements | — | 50,000,000 | — | 50,000,000 |
Investment Company | 15,057,802,135 | — | — | 15,057,802,135 |
TOTAL SECURITIES | $15,057,802,135 | $100,000,000 | $— | $15,157,802,135 |
Six Months Ended (unaudited) 1/31/2024 | Year Ended July 31, | |||||
2023 | 2022 | 2021 | 2020 | 2019 | ||
Net Asset Value, Beginning of Period | $0.9999 | $0.9995 | $1.0004 | $1.0006 | $1.0003 | $1.0002 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.0274 | 0.0413 | 0.0036 | 0.0008 | 0.0136 | 0.0239 |
Net realized and unrealized gain (loss) | 0.0005 | 0.0004 | (0.0008) | (0.0002) | 0.0003 | 0.0001 |
Total From Investment Operations | 0.0279 | 0.0417 | 0.0028 | 0.0006 | 0.0139 | 0.0240 |
Less Distributions: | ||||||
Distributions from net investment income | (0.0274) | (0.0413) | (0.0036) | (0.0008) | (0.0136) | (0.0239) |
Distributions from net realized gain | — | — | (0.0001) | (0.0000)2 | (0.0000)2 | (0.0000)2 |
Total Distributions | (0.0274) | (0.0413) | (0.0037) | (0.0008) | (0.0136) | (0.0239) |
Net Asset Value, End of Period | $1.0004 | $0.9999 | $0.9995 | $1.0004 | $1.0006 | $1.0003 |
Total Return3 | 2.82% | 4.25% | 0.28% | 0.06% | 1.39% | 2.43% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.00%5,6 | 0.00%6 | —% | —% | 0.00%6 | —% |
Net investment income | 5.44%5 | 4.18% | 0.35% | 0.08% | 1.36% | 2.41% |
Expense waiver/ reimbursement7 | 0.25%5 | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $14,541,055 | $12,250,590 | $9,946,892 | $12,120,572 | $15,937,441 | $13,599,422 |
1 | Per share numbers have been calculated using the average shares method. |
2 | Represents less than $0.0001. |
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 | Represents less than 0.01%. |
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. |
Assets: | |
Investment in securities, at value including $15,057,802,135 of investments in affiliated holdings* (identified cost $15,156,319,946, including $15,056,319,946 of identified cost in affiliated holdings) | $15,157,802,135 |
Cash | 831,223 |
Income receivable | 14,889 |
Income receivable from affiliated holdings | 69,478,643 |
Receivable for shares sold | 122,713,579 |
Total Assets | 15,350,840,469 |
Liabilities: | |
Payable for shares redeemed | 50,189,231 |
Income distribution payable | 41,793,662 |
Payable to investment adviser (Note 5) | 59,409 |
Payable for administrative fee (Note 5) | 32,179 |
Payable for Directors’/Trustees’ fees (Note 5) | 12,973 |
Payable for other service fees (Notes 2 and 5) | 184,926 |
Accrued expenses (Note 5) | 283,821 |
Total Liabilities | 92,556,201 |
Net assets for 15,252,436,975 shares outstanding | $15,258,284,268 |
Net Assets Consist of: | |
Paid-in capital | $15,256,166,861 |
Total distributable earnings (loss) | 2,117,407 |
Total Net Assets | $15,258,284,268 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$14,541,054,916 ÷ 14,535,480,647 shares outstanding, no par value, unlimited shares authorized | $1.0004 |
Service Shares: | |
$710,854,761 ÷ 710,583,909 shares outstanding, no par value, unlimited shares authorized | $1.0004 |
Capital Shares: | |
$6,374,591 ÷ 6,372,419 shares outstanding, no par value, unlimited shares authorized | $1.0003 |
* | See information listed after the Fund’s Portfolio of Investments. |
Investment Income: | |
Dividends received from affiliated holdings* | $391,613,520 |
Interest | 2,111,907 |
TOTAL INCOME | 393,725,427 |
Expenses: | |
Investment adviser fee (Note 5) | 12,001,266 |
Administrative fee (Note 5) | 5,628,525 |
Custodian fees | 194,511 |
Transfer agent fees | 54,418 |
Directors’/Trustees’ fees (Note 5) | 32,606 |
Auditing fees | 13,698 |
Legal fees | 5,280 |
Portfolio accounting fees | 109,692 |
Other service fees (Notes 2 and 5) | 820,228 |
Share registration costs | 255,177 |
Printing and postage | 27,061 |
Miscellaneous (Note 5) | 47,883 |
TOTAL EXPENSES | 19,190,345 |
Waiver and Reimbursements: | |
Waiver/reimbursement of investment adviser fee (Note 5) | (12,001,266) |
Reimbursement of other operating expenses (Notes 2 and 5) | (6,368,851) |
TOTAL WAIVER AND REIMBURSEMENTS | (18,370,117) |
Net expenses | 820,228 |
Net investment income | 392,905,199 |
Realized and Unrealized Gain (Loss) on Investments: | |
Net realized gain on investments in affiliated holdings* | 941,464 |
Net change in unrealized depreciation of investments in affiliated holdings* | 6,225,656 |
Net realized and unrealized gain (loss) on investments | 7,167,120 |
Change in net assets resulting from operations | $400,072,319 |
* | See information listed after the Fund’s Portfolio of Investments. |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $392,905,199 | $475,122,629 |
Net realized gain (loss) | 941,464 | 1,125,534 |
Net change in unrealized appreciation/depreciation | 6,225,656 | 3,395,030 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 400,072,319 | 479,643,193 |
Distributions to Shareholders: | ||
Institutional Shares | (375,656,148) | (456,986,602) |
Service Shares | (17,078,441) | (17,839,842) |
Capital Shares | (165,497) | (297,852) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (392,900,086) | (475,124,296) |
Share Transactions: | ||
Proceeds from sale of shares | 22,534,269,556 | 41,835,474,572 |
Net asset value of shares issued to shareholders in payment of distributions declared | 157,008,754 | 169,328,107 |
Cost of shares redeemed | (20,264,383,737) | (39,513,449,330) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 2,426,894,573 | 2,491,353,349 |
Change in net assets | 2,434,066,806 | 2,495,872,246 |
Net Assets: | ||
Beginning of period | 12,824,217,462 | 10,328,345,216 |
End of period | $15,258,284,268 | $12,824,217,462 |
Other Service Fees Incurred | |
Service Shares | $817,130 |
Capital Shares | 3,098 |
TOTAL | $820,228 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 21,909,802,763 | $21,912,781,440 | 41,150,980,564 | $41,141,014,548 |
Shares issued to shareholders in payment of distributions declared | 140,267,424 | 140,296,840 | 151,505,640 | 151,478,912 |
Shares redeemed | (19,766,621,981) | (19,769,453,890) | (39,002,504,601) | (38,993,166,012) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 2,283,448,206 | $2,283,624,390 | 2,299,981,603 | $2,299,327,448 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 620,298,729 | $620,419,352 | 691,989,213 | $691,857,989 |
Shares issued to shareholders in payment of distributions declared | 16,542,925 | 16,546,417 | 17,554,792 | 17,551,569 |
Shares redeemed | (494,008,248) | (494,122,935) | (514,497,010) | (514,381,513) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 142,833,406 | $142,842,834 | 195,046,995 | $195,028,045 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,068,897 | $1,068,764 | 2,603,475 | $2,602,035 |
Shares issued to shareholders in payment of distributions declared | 165,476 | 165,497 | 297,715 | 297,626 |
Shares redeemed | (807,040) | (806,912) | (5,902,912) | (5,901,805) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 427,333 | $427,349 | (3,001,722) | $(3,002,144) |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 2,426,708,945 | $2,426,894,573 | 2,492,026,876 | $2,491,353,349 |
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 |
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual | $1,000.00 | $1,028.20 | $—2 |
Hypothetical (assuming a 5% return before expenses) | $1,000.00 | $1,025.14 | $—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 184/366 (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 184/366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $1.02 and $1.02, 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. |
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. |
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 |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/kpmgsig.jpg)
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 |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/fhilogok11p.jpg)
Federated Hermes Funds
4000 Ericsson Drive
Warrendale, PA 15086-7561
or call 1-800-341-7400.
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/img1a18b5e01.gif)
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
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Repurchase Agreements | 55.8% |
U.S. Treasury Securities | 41.6% |
Other Assets and Liabilities—Net2 | 2.6% |
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 | 66.8% |
8-30 Days | 9.6% |
31-90 Days | 8.9% |
91-180 Days | 9.5% |
181 Days or more | 2.6% |
Other Assets and Liabilities—Net2 | 2.6% |
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— 41.6% | |||
U.S. Treasury Bills—29.1% | |||
$ 259,000,000 | 1 | United States Treasury Bills, 4.570% - 4.580%, 1/23/2025 | $ 247,241,610 |
575,000,000 | 1 | United States Treasury Bills, 4.975% - 4.985%, 7/18/2024 | 561,630,258 |
575,000,000 | 1 | United States Treasury Bills, 5.015% - 5.020%, 7/25/2024 | 560,971,611 |
431,000,000 | 1 | United States Treasury Bills, 5.030%, 7/11/2024 | 421,304,537 |
1,719,000,000 | 1 | United States Treasury Bills, 5.045% - 5.100%, 6/27/2024 | 1,683,454,687 |
587,000,000 | 1 | United States Treasury Bills, 5.045%, 7/5/2024 | 574,249,461 |
934,000,000 | 1 | United States Treasury Bills, 5.070% - 5.075%, 6/20/2024 | 915,568,417 |
150,000,000 | 1 | United States Treasury Bills, 5.070%, 6/6/2024 | 147,338,250 |
309,000,000 | 1 | United States Treasury Bills, 5.135%, 10/31/2024 | 296,967,410 |
571,000,000 | 1 | United States Treasury Bills, 5.220%, 4/23/2024 | 564,210,810 |
790,000,000 | 1 | United States Treasury Bills, 5.225% - 5.350%, 4/18/2024 | 781,112,382 |
452,000,000 | 1 | United States Treasury Bills, 5.250%, 4/16/2024 | 447,056,249 |
260,000,000 | 1 | United States Treasury Bills, 5.260%, 3/21/2024 | 258,138,544 |
525,000,000 | 1 | United States Treasury Bills, 5.260%, 3/26/2024 | 520,857,750 |
1,213,000,000 | 1 | United States Treasury Bills, 5.270% - 5.355%, 2/20/2024 | 1,209,598,675 |
1,177,000,000 | 1 | United States Treasury Bills, 5.270%, 2/22/2024 | 1,173,381,706 |
307,000,000 | 1 | United States Treasury Bills, 5.270%, 5/16/2024 | 302,281,154 |
575,000,000 | 1 | United States Treasury Bills, 5.275%, 2/13/2024 | 573,988,958 |
1,217,000,000 | 1 | United States Treasury Bills, 5.285% - 5.335%, 2/27/2024 | 1,212,332,029 |
969,000,000 | 1 | United States Treasury Bills, 5.285% - 5.340%, 3/5/2024 | 964,286,340 |
165,000,000 | 1 | United States Treasury Bills, 5.285%, 2/8/2024 | 164,830,439 |
267,000,000 | 1 | United States Treasury Bills, 5.285%, 2/15/2024 | 266,451,241 |
275,000,000 | 1 | United States Treasury Bills, 5.285%, 3/12/2024 | 273,385,139 |
979,000,000 | 1 | United States Treasury Bills, 5.290% - 5.350%, 2/6/2024 | 978,277,441 |
342,000,000 | 1 | United States Treasury Bills, 5.298% - 5.300%, 3/7/2024 | 340,238,285 |
294,000,000 | 1 | United States Treasury Bills, 5.320%, 5/2/2024 | 290,046,353 |
375,000,000 | 1 | United States Treasury Bills, 5.325%, 4/25/2024 | 370,340,626 |
617,000,000 | 1 | United States Treasury Bills, 5.340%, 4/4/2024 | 611,234,134 |
TOTAL | 16,710,774,496 | ||
U.S. Treasury Notes—12.5% | |||
250,000,000 | 2 | United States Treasury Floating Rate Notes, 5.204% (91-day T-Bill -0.075%), 2/6/2024 | 249,999,997 |
1,323,000,000 | 2 | United States Treasury Floating Rate Notes, 5.316% (91-day T-Bill +0.037%), 2/6/2024 | 1,322,815,512 |
1,145,000,000 | 2 | United States Treasury Floating Rate Notes, 5.404% (91-day T-Bill +0.125%), 2/6/2024 | 1,144,559,479 |
685,000,000 | 2 | United States Treasury Floating Rate Notes, 5.419% (91-day T-Bill +0.140%), 2/6/2024 | 684,764,991 |
Principal Amount | Value | ||
U.S. TREASURIES— continued | |||
U.S. Treasury Notes—12.5% | |||
$ 700,000,000 | 2 | United States Treasury Floating Rate Notes, 5.448% (91-day T-Bill +0.169%), 2/6/2024 | $ 700,104,125 |
820,000,000 | 2 | United States Treasury Floating Rate Notes, 5.449% (91-day T-Bill +0.170%), 2/6/2024 | 819,231,165 |
1,202,000,000 | 2 | United States Treasury Floating Rate Notes, 5.479% (91-day T-Bill +0.200%), 2/6/2024 | 1,202,153,614 |
86,500,000 | 2 | United States Treasury Floating Rate Notes, 5.524% (91-day T-Bill +0.245%), 2/6/2024 | 86,467,046 |
86,000,000 | United States Treasury Notes, 1.125%, 2/28/2025 | 82,786,298 | |
863,000,000 | United States Treasury Notes, 1.375% - 4.125%, 1/31/2025 | 846,236,146 | |
TOTAL | 7,139,118,373 | ||
TOTAL U.S. TREASURIES | 23,849,892,869 | ||
REPURCHASE AGREEMENTS— 55.8% | |||
500,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.30%, dated 1/31/2024 under which HSBC Securities (USA), Inc. will repurchase securities provided as collateral for $1,000,147,222 on 2/1/2024. 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 $1,020,000,047. | 500,000,000 | |
250,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp. will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 5/15/2048 and the market value of those underlying securities was $3,060,451,433. | 250,000,000 | |
350,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which BNP Paribas S.A. will repurchase securities provided as collateral for $350,051,625 on 2/1/2024. 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 8/15/2026 and the market value of those underlying securities was $357,052,722. | 350,000,000 | |
900,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.34%, dated 1/2/2024 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $1,004,301,667 on 2/1/2024. 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 $1,024,387,746. | 900,000,000 | |
900,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.33%, dated 1/31/2024 under which Barclays Bank PLC will repurchase securities provided as collateral for $2,008,587,222 on 3/1/2024. 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 $2,048,758,984. | 900,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 741,883,000 | Interest in $5,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which J.P. Morgan Securities LLC will repurchase securities provided as collateral for $5,000,737,500 on 2/1/2024. 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 10/15/2028 and the market value of those underlying securities was $5,100,000,047. | $ 741,883,000 | |
500,000,000 | Repurchase agreement 5.34%, dated 1/31/2024 under which J.P. Morgan Securities LLC will repurchase securities provided as collateral for $500,074,167 on 2/1/2024. 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 12/31/2028 and the market value of those underlying securities was $510,000,084. | 500,000,000 | |
1,500,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,500,221,250 on 2/1/2024. 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 2/15/2033 and the market value of those underlying securities was $1,530,000,012. | 1,500,000,000 | |
1,500,000,000 | Interest in $2,500,000,000 joint repurchase agreement 5.32%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $2,500,369,444 on 2/1/2024. 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 2/15/2040 and the market value of those underlying securities was $2,550,961,448. | 1,500,000,000 | |
500,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which National Australia Bank Ltd., Melbourne will repurchase securities provided as collateral for $500,073,750 on 2/1/2024. 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 5/15/2028 and the market value of those underlying securities was $512,351,785. | 500,000,000 | |
508,313,500 | Repurchase agreement 5.32%, dated 1/31/2024 under which Prudential Insurance Co. of America will repurchase securities provided as collateral for $508,388,617 on 2/1/2024. 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 11/15/2052 and the market value of those underlying securities was $518,931,764. | 508,313,500 | |
17,627,500 | Repurchase agreement 5.32%, dated 1/31/2024 under which Prudential Legacy Insurance Co. of NJ will repurchase securities provided as collateral for $17,630,105 on 2/1/2024. 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 $18,057,120. | 17,627,500 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 250,000,000 | Repurchase agreement 5.30%, dated 1/31/2024 under which Citibank, N.A. will repurchase securities provided as collateral for $250,036,806 on 2/1/2024. 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 12/31/2028 and the market value of those underlying securities was $255,037,656. | $ 250,000,000 | |
900,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.33%, dated 1/5/2024 under which BNP Paribas S.A. will repurchase securities provided as collateral for $1,004,589,722 on 2/5/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 2/15/2051 and the market value of those underlying securities was $1,024,077,450. | 900,000,000 | |
500,000,000 | Interest in $750,000,000 joint repurchase agreement 5.33%, dated 1/26/2024 under which BNP Paribas S.A. will repurchase securities provided as collateral for $753,442,292 on 2/26/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Treasury securities with various maturities to 11/15/2050 and the market value of those underlying securities was $765,679,576. | 500,000,000 | |
1,800,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.34%, dated 12/14/2023 under which BNP Paribas S.A. will repurchase securities provided as collateral for $2,018,393,333 on 2/14/2024. 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 8/15/2051 and the market value of those underlying securities was $2,054,827,430. | 1,800,000,000 | |
800,000,000 | Interest in $1,600,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Credit Agricole Corporate and Investment Bank will repurchase securities provided as collateral for $1,600,236,000 on 2/1/2024. 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 $1,632,240,795. | 800,000,000 | |
14,341,000 | Repurchase agreement 5.26%, dated 1/31/2024 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $14,343,095 on 2/1/2024. 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 $14,629,962. | 14,341,000 | |
475,000,000 | Interest in $950,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $950,140,125 on 2/1/2024. 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 11/15/2041 and the market value of those underlying securities was $969,142,956. | 475,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 75,000,000 | Repurchase agreement 5.30%, dated 1/31/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $75,011,042 on 2/1/2024. 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 4/30/2028 and the market value of those underlying securities was $76,511,314. | $ 75,000,000 | |
850,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.36%, dated 1/30/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,013,400,000 on 4/29/2024. 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 7/31/2029 and the market value of those underlying securities was $1,020,303,257. | 850,000,000 | |
290,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Natwest Markets Securities, Inc. will repurchase securities provided as collateral for $290,042,775 on 2/1/2024. 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 11/15/2033 and the market value of those underlying securities was $295,800,077. | 290,000,000 | |
500,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which TD Securities (USA), LLC will repurchase securities provided as collateral for $500,073,750 on 2/1/2024. 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 10/31/2028 and the market value of those underlying securities was $510,075,311. | 500,000,000 | |
250,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Credit Agricole Corporate and Investment Bank will repurchase a security provided as collateral for $250,036,875 on 2/1/2024. 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 5/31/2028 and the market value of that underlying security was $255,037,620. | 250,000,000 | |
1,800,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.33%, dated 1/17/2024 under which Credit Agricole Corporate and Investment Bank will repurchase securities provided as collateral for $2,009,771,667 on 2/20/2024. 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 2/15/2033 and the market value of those underlying securities was $2,044,228,554. | 1,800,000,000 | |
800,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.33%, dated 1/19/2024 under which Bofa Securities, Inc. will repurchase securities provided as collateral for $1,004,441,667 on 2/21/2024. 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 5/15/2045 and the market value of those underlying securities was $1,021,510,203. | 800,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$5,000,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $5,000,737,500 on 2/1/2024. 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 7/31/2028 and the market value of those underlying securities was $5,100,000,004. | $ 5,000,000,000 | |
500,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $500,073,750 on 2/1/2024. 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 $510,075,251. | 500,000,000 | |
4,000,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $4,000,590,000 on 2/1/2024. 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 $4,080,000,014. | 4,000,000,000 | |
625,000,000 | Interest in $2,750,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Standard Chartered Bank will repurchase securities provided as collateral for $2,750,405,625 on 2/1/2024. 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 8/15/2053 and the market value of those underlying securities was $2,805,413,753. | 625,000,000 | |
2,500,000,000 | Repurchase agreement 5.31%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $2,500,368,750 on 2/1/2024. 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 11/15/2053 and the market value of those underlying securities was $2,551,663,888. | 2,500,000,000 | |
1,500,000,000 | Repurchase agreement 5.32%, dated 1/31/2024 under which Fixed Income Clearing Corp. will repurchase securities provided as collateral for $1,500,221,667 on 2/1/2024. 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 8/15/2033 and the market value of those underlying securities was $1,533,666,615. | 1,500,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 450,004,062 | Repurchase agreement 5.31%, dated 1/31/2024 under which Metropolitan Life Insurance Co. will repurchase securities provided as collateral for $450,070,438 on 2/1/2024. 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 6/30/2026 and the market value of those underlying securities was $459,279,887. | $ 450,004,062 | |
TOTAL REPURCHASE AGREEMENTS | 32,047,169,062 | ||
TOTAL INVESTMENT IN SECURITIES—97.4% (AT AMORTIZED COST)3 | 55,897,061,931 | ||
OTHER ASSETS AND LIABILITIES - NET—2.6%4 | 1,487,409,366 | ||
TOTAL NET ASSETS—100% | $57,384,471,297 |
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 for federal tax purposes. |
4 | Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities. |
Six Months Ended (unaudited) 1/31/2024 | Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 |
Income From Investment Operations: | ||
Net investment income (loss)2 | 0.026 | 0.004 |
Net realized gain (loss) | — | 0.0003 |
Total From Investment Operations | 0.026 | 0.004 |
Less Distributions: | ||
Distributions from net investment income | (0.026) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 |
Total Return4 | 2.67% | 0.40% |
Ratios to Average Net Assets: | ||
Net expenses5 | 0.17%6 | 0.17%6 |
Net investment income | 5.25%6 | 5.39%6 |
Expense waiver/reimbursement7 | 0.08%6 | 0.14%6 |
Supplemental Data: | ||
Net assets, end of period (000 omitted) | $114,953 | $50 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
2 | Per share numbers have 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.025 | 0.036 | 0.002 | 0.0002 | 0.008 | 0.019 |
Net realized gain (loss) | — | 0.0002 | (0.000)2 | 0.0002 | 0.0002 | 0.0002 |
Total From Investment Operations | 0.025 | 0.036 | 0.002 | 0.0002 | 0.008 | 0.019 |
Less Distributions: | ||||||
Distributions from net investment income | (0.025) | (0.036) | (0.002) | (0.000)2 | (0.008) | (0.019) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.025) | (0.036) | (0.002) | (0.000)2 | (0.008) | (0.019) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.50% | 3.67% | 0.18% | 0.01% | 0.84% | 1.88% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.49%5 | 0.54% | 0.21% | 0.11% | 0.43% | 0.48% |
Net investment income | 4.93%5 | 3.52% | 0.13% | 0.01% | 0.82% | 1.87% |
Expense waiver/reimbursement6 | 0.09%5 | 0.08% | 0.42% | 0.52% | 0.18% | 0.11% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $1,371,579 | $1,116,884 | $1,615,683 | $2,390,301 | $2,076,883 | $2,138,942 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.026 | 0.040 | 0.003 | 0.0002 | 0.011 | 0.022 |
Net realized gain (loss) | — | 0.0002 | (0.000)2 | 0.0002 | (0.000)2 | 0.0002 |
Total From Investment Operations | 0.026 | 0.040 | 0.003 | 0.0002 | 0.011 | 0.022 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.040) | (0.003) | (0.000)2 | (0.011) | (0.022) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.026) | (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 | $1.00 |
Total Return3 | 2.65% | 4.02% | 0.29% | 0.01% | 1.09% | 2.18% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.20%5 | 0.20% | 0.12% | 0.11% | 0.19% | 0.18% |
Net investment income | 5.22%5 | 4.02% | 0.29% | 0.01% | 0.99% | 2.17% |
Expense waiver/ reimbursement6 | 0.10%5 | 0.08% | 0.16% | 0.17% | 0.10% | 0.11% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $36,541,670 | $44,853,097 | $40,500,072 | $40,668,867 | $49,615,082 | $33,350,766 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 |
Income From Investment Operations: | ||
Net investment income (loss)2 | 0.027 | 0.004 |
Net realized gain (loss) | — | 0.0003 |
Total From Investment Operations | 0.027 | 0.004 |
Less Distributions: | ||
Distributions from net investment income | (0.027) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 |
Total Return4 | 2.68% | 0.40% |
Ratios to Average Net Assets: | ||
Net expenses5 | 0.15%6 | 0.15%6 |
Net investment income | 5.27%6 | 5.41%6 |
Expense waiver/reimbursement7 | 0.10%6 | 0.14%6 |
Supplemental Data: | ||
Net assets, end of period (000 omitted) | $50 | $50 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
2 | Per share numbers have 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.025 | 0.037 | 0.002 | 0.0002 | 0.009 | 0.019 |
Net realized gain (loss) | — | 0.0002 | (0.000)2 | 0.0002 | (0.000)2 | 0.0002 |
Total From Investment Operations | 0.025 | 0.037 | 0.002 | 0.0002 | 0.009 | 0.019 |
Less Distributions: | ||||||
Distributions from net investment income | (0.025) | (0.037) | (0.002) | (0.000)2 | (0.009) | (0.019) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.025) | (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 | $1.00 |
Total Return3 | 2.54% | 3.77% | 0.20% | 0.01% | 0.88% | 1.93% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.41%5 | 0.45% | 0.20% | 0.12% | 0.39% | 0.43% |
Net investment income | 5.01%5 | 3.82% | 0.19% | 0.01% | 0.84% | 1.92% |
Expense waiver/reimbursement6 | 0.10%5 | 0.08% | 0.33% | 0.41% | 0.15% | 0.11% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $3,735,105 | $6,216,332 | $4,833,929 | $5,363,707 | $5,512,396 | $4,672,058 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 |
Income From Investment Operations: | ||
Net investment income (loss)2 | 0.025 | 0.004 |
Net realized gain (loss) | — | 0.0003 |
Total From Investment Operations | 0.025 | 0.004 |
Less Distributions: | ||
Distributions from net investment income | (0.025) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 |
Total Return4 | 2.53% | 0.38% |
Ratios to Average Net Assets: | ||
Net expenses5 | 0.45%6 | 0.45%6 |
Net investment income | 4.97%6 | 5.11%6 |
Expense waiver/reimbursement7 | 0.08%6 | 0.14%6 |
Supplemental Data: | ||
Net assets, end of period (000 omitted) | $2,484,311 | $50 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
2 | Per share numbers have 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. |
Six Months Ended (unaudited) 1/31/2024 | Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 |
Income From Investment Operations: | ||
Net investment income (loss)2 | 0.024 | 0.004 |
Net realized gain (loss) | — | 0.0003 |
Total From Investment Operations | 0.024 | 0.004 |
Less Distributions: | ||
Distributions from net investment income | (0.024) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 |
Total Return4 | 2.40% | 0.36% |
Ratios to Average Net Assets: | ||
Net expenses5 | 0.70%6 | 0.70%6 |
Net investment income | 4.73%6 | 4.88%6 |
Expense waiver/reimbursement7 | 0.10%6 | 0.14%6 |
Supplemental Data: | ||
Net assets, end of period (000 omitted) | $50 | $50 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
2 | Per share numbers have 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.026 | 0.039 | 0.002 | 0.0002 | 0.010 | 0.021 |
Net realized gain (loss) | — | 0.0002 | (0.000)2 | 0.0002 | (0.000)2 | 0.0002 |
Total From Investment Operations | 0.026 | 0.039 | 0.002 | 0.0002 | 0.010 | 0.021 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.039) | (0.002) | (0.000)2 | (0.010) | (0.021) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.026) | (0.039) | (0.002) | (0.000)2 | (0.010) | (0.021) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.60% | 3.92% | 0.25% | 0.01% | 0.99% | 2.08% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.30%5 | 0.30% | 0.16% | 0.11% | 0.28% | 0.28% |
Net investment income | 5.12%5 | 4.08% | 0.25% | 0.01% | 0.90% | 2.07% |
Expense waiver/reimbursement6 | 0.09%5 | 0.09% | 0.22% | 0.27% | 0.11% | 0.11% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $6,028,259 | $4,829,109 | $2,100,176 | $1,859,069 | $2,119,651 | $1,250,599 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income (loss)1 | 0.024 | 0.035 | 0.001 | 0.0002 | 0.007 | 0.017 |
Net realized gain (loss) | — | 0.0002 | (0.000)2 | 0.0002 | (0.000)2 | 0.0002 |
Total From Investment Operations | 0.024 | 0.035 | 0.001 | 0.0002 | 0.007 | 0.017 |
Less Distributions: | ||||||
Distributions from net investment income | (0.024) | (0.035) | (0.001) | (0.000)2 | (0.007) | (0.017) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.024) | (0.035) | (0.001) | (0.000)2 | (0.007) | (0.017) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.42% | 3.51% | 0.14% | 0.01% | 0.72% | 1.67% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.66%5 | 0.70% | 0.27% | 0.13% | 0.54% | 0.68% |
Net investment income | 4.76%5 | 3.45% | 0.14% | 0.01% | 0.66% | 1.67% |
Expense waiver/reimbursement6 | 0.10%5 | 0.08% | 0.51% | 0.65% | 0.25% | 0.11% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $457,518 | $655,941 | $796,860 | $754,675 | $1,379,716 | $860,830 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 |
Income From Investment Operations: | ||
Net investment income (loss)2 | 0.027 | 0.004 |
Net realized gain (loss) | — | 0.0003 |
Total From Investment Operations | 0.027 | 0.004 |
Less Distributions: | ||
Distributions from net investment income | (0.027) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 |
Total Return4 | 2.68% | 0.40% |
Ratios to Average Net Assets: | ||
Net expenses5 | 0.15%6 | 0.15%6 |
Net investment income | 5.27%6 | 5.09%6 |
Expense waiver/reimbursement7 | 0.09%6 | 0.13%6 |
Supplemental Data: | ||
Net assets, end of period (000 omitted) | $6,650,976 | $808,502 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
2 | Per share numbers have 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. |
Assets: | |
Investment in repurchase agreements | $32,047,169,062 |
Investment in securities | 23,849,892,869 |
Investment in securities, at amortized cost and fair value | 55,897,061,931 |
Cash | 2,000,249,658 |
Income receivable | 31,055,434 |
Receivable for shares sold | 587,665,005 |
Total Assets | 58,516,032,028 |
Liabilities: | |
Payable for investments purchased | 900,000,000 |
Payable for shares redeemed | 94,651,268 |
Income distribution payable | 131,131,814 |
Payable for investment adviser fee (Note 5) | 110,283 |
Payable for administrative fee (Note 5) | 120,533 |
Payable for Directors’/Trustees’ fees (Note 5) | 54,562 |
Payable for distribution services fee (Note 5) | 206,477 |
Payable for other service fees (Notes 2 and 5) | 4,304,764 |
Accrued expenses (Note 5) | 981,030 |
Total Liabilities | 1,131,560,731 |
Net assets for 57,405,100,986 shares outstanding | $57,384,471,297 |
Net Assets Consist of: | |
Paid-in capital | $57,405,293,989 |
Total distributable earnings (loss) | (20,822,692) |
Total Net Assets | $57,384,471,297 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Select Shares: | |
$114,952,598 ÷ 114,994,400 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Automated Shares: | |
$1,371,578,780 ÷ 1,372,075,349 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Institutional Shares: | |
$36,541,670,249 ÷ 36,554,743,529 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: | |
$3,735,105,452 ÷ 3,736,462,633 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Administrative Shares: | |
$2,484,311,157 ÷ 2,485,213,836 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: | |
$6,028,258,508 ÷ 6,030,440,332 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Trust Shares: | |
$457,518,201 ÷ 457,684,037 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Premier Shares: | |
$6,650,976,388 ÷ 6,653,386,870 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $1,607,006,711 |
Expenses: | |
Investment adviser fee (Note 5) | 49,367,014 |
Administrative fee (Note 5) | 23,045,458 |
Custodian fees | 822,332 |
Transfer agent fees (Note 2) | 942,395 |
Directors’/Trustees’ fees (Note 5) | 145,229 |
Auditing fees | 13,714 |
Legal fees | 5,282 |
Portfolio accounting fees | 136,300 |
Distribution services fee (Note 5) | 917,363 |
Other service fees (Notes 2 and 5) | 23,021,041 |
Share registration costs | 293,099 |
Printing and postage | 128,758 |
Miscellaneous (Note 5) | 147,374 |
TOTAL EXPENSES | 98,985,359 |
Waiver of investment adviser fee (Note 5) | (28,360,381) |
Net expenses | 70,624,978 |
Net investment income | 1,536,381,733 |
Change in net assets resulting from operations | $1,536,381,733 |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $1,536,381,733 | $2,258,937,291 |
Net realized gain (loss) | — | 2,240,523 |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 1,536,381,733 | 2,261,177,814 |
Distributions to Shareholders: | ||
Select Shares1 | (529,360) | (214) |
Automated Shares | (31,040,276) | (46,031,281) |
Institutional Shares | (1,062,883,271) | (1,826,931,196) |
Advisor Shares1 | (1,311) | (214) |
Service Shares | (129,807,768) | (215,217,062) |
Administrative Shares1 | (18,728,040) | (203) |
Cash Management Shares1 | (1,188) | (193) |
Capital Shares | (140,424,457) | (142,593,323) |
Trust Shares | (13,881,520) | (26,579,749) |
Premier Shares1 | (139,104,584) | (1,556,761) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (1,536,401,775) | (2,258,910,196) |
Share Transactions: | ||
Proceeds from sale of shares | 126,913,970,808 | 316,262,136,779 |
Net asset value of shares issued to shareholders in payment of distributions declared | 709,753,132 | 905,152,706 |
Cost of shares redeemed | (128,719,297,098) | (308,536,213,215) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | (1,095,573,158) | 8,631,076,270 |
Change in net assets | (1,095,593,200) | 8,633,343,888 |
Net Assets: | ||
Beginning of period | 58,480,064,497 | 49,846,720,609 |
End of period | $57,384,471,297 | $58,480,064,497 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
Transfer Agent Fees Incurred | |
Select Shares | $52 |
Automated Shares | 564,120 |
Institutional Shares | 101,921 |
Service Shares | 223,483 |
Administrative Shares | 1,943 |
Capital Shares | 13,776 |
Trust Shares | 23,866 |
Premier Shares | 13,234 |
TOTAL | $942,395 |
Other Service Fees Incurred | |
Select Shares | $1,777 |
Automated Shares | 1,574,196 |
Institutional Shares | 9,182,961 |
Service Shares | 6,476,658 |
Administrative Shares | 941,662 |
Cash Management Shares | 62 |
Capital Shares | 4,114,770 |
Trust Shares | 728,955 |
TOTAL | $23,021,041 |
Six Months Ended 1/31/2024 | Period Ended 7/31/20231 | |||
Select Shares: | Shares | Amount | Shares | Amount |
Shares sold | 177,304,285 | $177,304,285 | 50,000 | $50,000 |
Shares issued to shareholders in payment of distributions declared | 503,137 | 503,137 | — | — |
Shares redeemed | (62,863,022) | (62,863,022) | — | — |
NET CHANGE RESULTING FROM SELECT SHARE TRANSACTIONS | 114,944,400 | $114,944,400 | 50,000 | $50,000 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Automated Shares: | Shares | Amount | Shares | Amount |
Shares sold | 1,254,569,741 | $1,254,569,741 | 1,524,418,947 | $1,524,418,947 |
Shares issued to shareholders in payment of distributions declared | 29,512,362 | 29,512,362 | 43,797,772 | 43,797,772 |
Shares redeemed | (1,029,283,583) | (1,029,283,583) | (2,067,363,933) | (2,067,363,933) |
NET CHANGE RESULTING FROM AUTOMATED SHARE TRANSACTIONS | 254,798,520 | $254,798,520 | (499,147,214) | $(499,147,214) |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 90,744,596,831 | $90,744,596,831 | 280,616,560,953 | $280,616,560,953 |
Shares issued to shareholders in payment of distributions declared | 438,527,708 | 438,527,708 | 684,325,622 | 684,325,622 |
Shares redeemed | (99,497,281,569) | (99,497,281,569) | (276,950,636,724) | (276,950,636,724) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | (8,314,157,030) | $(8,314,157,030) | 4,350,249,851 | $4,350,249,851 |
Six Months Ended 1/31/2024 | Period Ended 7/31/20231 | |||
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 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 7,722,858,417 | $7,722,858,417 | 21,454,309,586 | $21,454,309,586 |
Shares issued to shareholders in payment of distributions declared | 40,020,519 | 40,020,519 | 53,925,418 | 53,925,418 |
Shares redeemed | (10,244,940,425) | (10,244,940,425) | (20,125,859,175) | (20,125,859,175) |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | (2,482,061,489) | $(2,482,061,489) | 1,382,375,829 | $1,382,375,829 |
Six Months Ended 1/31/2024 | Period Ended 7/31/20231 | |||
Administrative Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,645,049,734 | $2,645,049,734 | 50,000 | $50,000 |
Shares issued to shareholders in payment of distributions declared | 46 | 46 | — | — |
Shares redeemed | (159,885,944) | (159,885,944) | — | — |
NET CHANGE RESULTING FROM ADMINISTRATIVE SHARE TRANSACTIONS | 2,485,163,836 | $2,485,163,836 | 50,000 | $50,000 |
Six Months Ended 1/31/2024 | Period Ended 7/31/20231 | |||
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 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Capital Shares: | Shares | Amount | Shares | Amount |
Shares sold | 5,622,524,904 | $5,622,524,904 | 9,984,241,458 | $9,984,241,458 |
Shares issued to shareholders in payment of distributions declared | 123,174,588 | 123,174,588 | 114,425,707 | 114,425,707 |
Shares redeemed | (4,546,072,658) | (4,546,072,658) | (7,369,002,375) | (7,369,002,375) |
NET CHANGE RESULTING FROM CAPITAL SHARE TRANSACTIONS | 1,199,626,834 | $1,199,626,834 | 2,729,664,790 | $2,729,664,790 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Trust Shares: | Shares | Amount | Shares | Amount |
Shares sold | 765,887,848 | $765,887,848 | 1,824,661,972 | $1,824,661,972 |
Shares issued to shareholders in payment of distributions declared | 8,364,175 | 8,364,175 | 7,727,601 | 7,727,601 |
Shares redeemed | (972,739,916) | (972,739,916) | (1,973,443,765) | (1,973,443,765) |
NET CHANGE RESULTING FROM TRUST SHARE TRANSACTIONS | (198,487,893) | $(198,487,893) | (141,054,192) | $(141,054,192) |
Six Months Ended 1/31/2024 | Period Ended 7/31/20231 | |||
Premier Shares: | Shares | Amount | Shares | Amount |
Shares sold | 17,981,179,048 | $17,981,179,048 | 857,743,863 | $857,743,863 |
Shares issued to shareholders in payment of distributions declared | 69,650,597 | 69,650,597 | 950,586 | 950,586 |
Shares redeemed | (12,206,229,981) | (12,206,229,981) | (49,907,243) | (49,907,243) |
NET CHANGE RESULTING FROM PREMIER SHARE TRANSACTIONS | 5,844,599,664 | $5,844,599,664 | 808,787,206 | $808,787,206 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | (1,095,573,158) | $(1,095,573,158) | 8,631,076,270 | $8,631,076,270 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
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 | $188,333 |
Cash Management Shares | 75 |
Trust Shares | 728,955 |
TOTAL | $917,363 |
7. INTERFUND LENDING
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual: | |||
Select Shares | $1,000 | $1,026.70 | $0.87 |
Automated Shares | $1,000 | $1,025.00 | $2.49 |
Institutional Shares | $1,000 | $1,026.50 | $1.02 |
Advisor Shares | $1,000 | $1,026.80 | $0.76 |
Service Shares | $1,000 | $1,025.40 | $2.092 |
Administrative Shares | $1,000 | $1,025.30 | $2.29 |
Cash Management Shares | $1,000 | $1,024.00 | $3.56 |
Capital Shares | $1,000 | $1,026.00 | $1.53 |
Trust Shares | $1,000 | $1,024.20 | $3.36 |
Premier Shares | $1,000 | $1,026.80 | $0.76 |
Hypothetical (assuming a 5% return before expenses): | |||
Select Shares | $1,000 | $1,024.28 | $0.87 |
Automated Shares | $1,000 | $1,022.67 | $2.49 |
Institutional Shares | $1,000 | $1,024.13 | $1.02 |
Advisor Shares | $1,000 | $1,024.38 | $0.76 |
Service Shares | $1,000 | $1,023.08 | $2.092 |
Administrative Shares | $1,000 | $1,022.87 | $2.29 |
Cash Management Shares | $1,000 | $1,021.62 | $3.56 |
Capital Shares | $1,000 | $1,023.63 | $1.53 |
Trust Shares | $1,000 | $1,021.82 | $3.35 |
Premier Shares | $1,000 | $1,024.38 | $0.76 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Select Shares | 0.17% |
Automated Shares | 0.49% |
Institutional Shares | 0.20% |
Advisor Shares | 0.15% |
Service Shares | 0.41% |
Administrative Shares | 0.45% |
Cash Management Shares | 0.70% |
Capital Shares | 0.30% |
Trust Shares | 0.66% |
Premier Shares | 0.15% |
2 | 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 184/366 (to reflect expenses paid as if they had been in effect throughout the most recent one-half-year period) would be $2.29 and $2.29, respectively. |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/fhilogok11p.jpg)
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
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/imgde75c5671.gif)
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
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/donahuechrissigsmall.jpg)
Security Type | Percentage of Total Net Assets |
Repurchase Agreements | 65.7% |
U.S. Treasury Securities | 35.2% |
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 | 72.8% |
8-30 Days | 8.2% |
31-90 Days | 8.3% |
91-180 Days | 9.1% |
181 Days or more | 2.5% |
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— 35.2% | |||
1 | U.S. Treasury Bills—27.0% | ||
$ 41,000,000 | United States Treasury Bills, 4.580%, 1/23/2025 | $ 39,137,848 | |
90,000,000 | United States Treasury Bills, 4.975% - 4.985%, 7/18/2024 | 87,907,327 | |
90,000,000 | United States Treasury Bills, 5.020%, 7/25/2024 | 87,803,750 | |
67,000,000 | United States Treasury Bills, 5.030%, 7/11/2024 | 65,492,817 | |
262,380,000 | United States Treasury Bills, 5.045% - 5.100%, 6/27/2024 | 256,953,514 | |
88,700,000 | United States Treasury Bills, 5.045%, 7/5/2024 | 86,773,300 | |
166,000,000 | United States Treasury Bills, 5.075% - 5.080%, 6/20/2024 | 162,721,861 | |
48,000,000 | United States Treasury Bills, 5.135%, 10/31/2024 | 46,130,860 | |
88,000,000 | United States Treasury Bills, 5.220%, 4/23/2024 | 86,953,680 | |
119,000,000 | United States Treasury Bills, 5.225% - 5.350%, 4/18/2024 | 117,662,071 | |
68,260,000 | United States Treasury Bills, 5.250%, 4/16/2024 | 67,513,406 | |
48,720,000 | United States Treasury Bills, 5.260%, 3/21/2024 | 48,371,192 | |
78,000,000 | United States Treasury Bills, 5.260%, 3/26/2024 | 77,384,580 | |
157,190,000 | United States Treasury Bills, 5.270% - 5.355%, 2/20/2024 | 156,748,891 | |
173,000,000 | United States Treasury Bills, 5.270%, 2/22/2024 | 172,468,169 | |
43,000,000 | United States Treasury Bills, 5.270%, 5/16/2024 | 42,339,054 | |
87,000,000 | United States Treasury Bills, 5.275%, 2/13/2024 | 86,847,025 | |
183,000,000 | United States Treasury Bills, 5.285% - 5.335%, 2/27/2024 | 182,298,069 | |
143,975,000 | United States Treasury Bills, 5.285% - 5.340%, 3/5/2024 | 143,274,659 | |
25,000,000 | United States Treasury Bills, 5.285%, 2/8/2024 | 24,974,309 | |
37,000,000 | United States Treasury Bills, 5.285%, 2/15/2024 | 36,923,955 | |
40,000,000 | United States Treasury Bills, 5.285%, 3/12/2024 | 39,765,111 | |
146,100,000 | United States Treasury Bills, 5.290% - 5.350%, 2/6/2024 | 145,992,174 | |
46,320,000 | United States Treasury Bills, 5.298% - 5.300%, 3/7/2024 | 46,081,396 | |
45,000,000 | United States Treasury Bills, 5.320%, 5/2/2024 | 44,394,850 | |
55,000,000 | United States Treasury Bills, 5.325%, 4/25/2024 | 54,316,625 | |
83,000,000 | United States Treasury Bills, 5.340%, 4/4/2024 | 82,224,365 | |
TOTAL | 2,489,454,858 | ||
U.S. Treasury Notes—8.2% | |||
30,180,000 | 2 | United States Treasury Floating Rate Notes, 5.204% (91-day T-Bill -0.075%), 2/6/2024 | 30,176,940 |
55,250,000 | 2 | United States Treasury Floating Rate Notes, 5.316% (91-day T-Bill +0.037%), 2/6/2024 | 55,243,498 |
149,000,000 | 2 | United States Treasury Floating Rate Notes, 5.404% (91-day T-Bill +0.125%), 2/6/2024 | 148,941,032 |
39,000,000 | 2 | United States Treasury Floating Rate Notes, 5.419% (91-day T-Bill +0.140%), 2/6/2024 | 38,985,899 |
79,000,000 | 2 | United States Treasury Floating Rate Notes, 5.448% (91-day T-Bill +0.169%), 2/6/2024 | 79,012,139 |
125,600,000 | 2 | United States Treasury Floating Rate Notes, 5.449% (91-day T-Bill +0.170%), 2/6/2024 | 125,480,660 |
Principal Amount | Value | ||
U.S. TREASURIES— continued | |||
U.S. Treasury Notes—8.2% | |||
$ 117,000,000 | 2 | United States Treasury Floating Rate Notes, 5.479% (91-day T-Bill +0.200%), 2/6/2024 | $ 117,015,153 |
13,500,000 | 2 | United States Treasury Floating Rate Notes, 5.524% (91-day T-Bill +0.245%), 2/6/2024 | 13,494,857 |
14,000,000 | United States Treasury Notes, 1.125%, 2/28/2025 | 13,476,839 | |
137,000,000 | United States Treasury Notes, 1.375% - 4.125%, 1/31/2025 | 134,384,868 | |
TOTAL | 756,211,885 | ||
TOTAL U.S. TREASURIES | 3,245,666,743 | ||
REPURCHASE AGREEMENTS— 65.7% | |||
1,500,000,000 | Interest in $3,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Sumitomo Mitsui Banking Corp will repurchase securities provided as collateral for $3,000,442,500 on 2/1/2024. 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 5/15/2048 and the market value of those underlying securities was $3,060,451,433. | 1,500,000,000 | |
100,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.33%, dated 1/5/2024 under which BNP Paribas S.A. will repurchase securities provided as collateral for $1,004,589,722 on 2/5/2024. 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 2/15/2051 and the market value of those underlying securities was $1,024,077,450. | 100,000,000 | |
100,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.34%, dated 1/2/2024 under which Natixis Financial Products LLC will repurchase securities provided as collateral for $1,004,301,667 on 2/1/2024. 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 $1,024,387,746. | 100,000,000 | |
500,000,000 | Interest in $900,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Barclays Bank PLC will repurchase securities provided as collateral for $900,132,750 on 2/1/2024. 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 6/30/2028 and the market value of those underlying securities was $918,135,422. | 500,000,000 | |
460,000,000 | Interest in $5,000,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which J.P. Morgan Securities LLC will repurchase securities provided as collateral for $5,000,737,500 on 2/1/2024. 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 10/15/2028 and the market value of those underlying securities was $5,100,000,047. | 460,000,000 | |
250,000,000 | Interest in $750,000,000 joint repurchase agreement 5.33%, dated 1/26/2024 under which BNP Paribas S.A. will repurchase securities provided as collateral for $753,442,292 on 2/26/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 11/15/2050 and the market value of those underlying securities was $765,679,576. | 250,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$ 200,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.34%, dated 12/14/2023 under which BNP Paribas S.A. will repurchase securities provided as collateral for $2,018,393,333 on 2/14/2024. The securities provided as collateral at the end of the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to 8/15/2051 and the market value of those underlying securities was $2,054,827,430. | $ 200,000,000 | |
800,000,000 | Interest in $1,600,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Credit Agricole Trad will repurchase securities provided as collateral for $1,600,236,000 on 2/1/2024. 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 2/15/2030 and the market value of those underlying securities was $1,632,240,795. | 800,000,000 | |
200,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.33%, dated 1/19/2024 under which Bofa Securities, Inc. will repurchase a security provided as collateral for $1,004,441,667 on 2/21/2024. 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 5/15/2045 and the market value of that underlying security was $1,021,510,203. | 200,000,000 | |
150,000,000 | Interest in $1,000,000,000 joint repurchase agreement 5.36%, dated 1/30/2024 under which Citigroup Global Markets, Inc. will repurchase securities provided as collateral for $1,013,400,000 on 4/29/2024. 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 7/31/2029 and the market value of those underlying securities was $1,020,303,257. | 150,000,000 | |
100,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.33%, dated 1/31/2024 under which Barclays Bank PLC will repurchase securities provided as collateral for $2,008,587,222 on 3/1/2024. 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 $2,048,758,984. | 100,000,000 | |
200,000,000 | Interest in $2,000,000,000 joint repurchase agreement 5.33%, dated 1/17/2024 under which Credit Agricole Trad will repurchase securities provided as collateral for $2,009,771,667 on 2/20/2024. 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 2/15/2033 and the market value of those underlying securities was $2,044,228,554. | 200,000,000 |
Principal Amount | Value | ||
REPURCHASE AGREEMENTS— continued | |||
$1,500,000,000 | Interest in $2,750,000,000 joint repurchase agreement 5.31%, dated 1/31/2024 under which Standard Chartered Bank will repurchase securities provided as collateral for $2,750,405,625 on 2/1/2024. 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 8/15/2053 and the market value of those underlying securities was $2,805,413,753. | $1,500,000,000 | |
TOTAL REPURCHASE AGREEMENTS | 6,060,000,000 | ||
TOTAL INVESTMENT IN SECURITIES—100.9% (AT AMORTIZED COST)3 | 9,305,666,743 | ||
OTHER ASSETS AND LIABILITIES - NET—(0.9)%4 | (86,319,406) | ||
TOTAL NET ASSETS—100% | $9,219,347,337 |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.026 | 0.044 | 0.003 | 0.0002 | 0.011 | 0.021 |
Net realized gain (loss) | 0.000 | (0.005) | (0.000)2 | 0.0002 | (0.000)2 | 0.0002 |
Total From Investment Operations | 0.026 | 0.039 | 0.003 | 0.0002 | 0.011 | 0.021 |
Less Distributions: | ||||||
Distributions from net investment income | (0.026) | (0.039) | (0.003) | (0.000)2 | (0.011) | (0.021) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.026) | (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 | $1.00 |
Total Return3 | 2.65% | 3.98% | 0.26% | 0.01% | 1.07% | 2.16% |
Ratios to Average Net Assets: | ||||||
Net expenses4 | 0.20%5 | 0.20% | 0.12% | 0.13% | 0.20% | 0.20% |
Net investment income | 5.21%5 | 4.36% | 0.22% | 0.01% | 0.94% | 2.18% |
Expense waiver/reimbursement6 | 0.05%5 | 0.10% | 0.18% | 0.17% | 0.11% | 0.11% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $7,154,787 | $5,050,177 | $1,134,075 | $1,464,865 | $2,334,139 | $1,344,393 |
1 | Per share numbers have been calculated using the average shares method. |
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. |
Six Months Ended (unaudited) 1/31/2024 | Period Ended 7/31/20231 | |
Net Asset Value, Beginning of Period | $1.00 | $1.00 |
Income From Investment Operations: | ||
Net investment income2 | 0.025 | 0.004 |
Net realized gain (loss) | 0.000 | 0.0003 |
Total From Investment Operations | 0.025 | 0.004 |
Less Distributions: | ||
Distributions from net investment income | (0.025) | (0.004) |
Net Asset Value, End of Period | $1.00 | $1.00 |
Total Return4 | 2.52% | 0.38% |
Ratios to Average Net Assets: | ||
Net expenses5 | 0.45%6 | 0.45%6 |
Net investment income | 4.97%6 | 5.03%6 |
Expense waiver/reimbursement7 | 0.04%6 | 0.10%6 |
Supplemental Data: | ||
Net assets, end of period (000 omitted) | $430,763 | $50 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
2 | Per share numbers have 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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.023 | 0.035 | 0.001 | 0.0002 | 0.006 | 0.014 |
Net realized gain (loss) | 0.000 | (0.003) | (0.000)2 | 0.0002 | (0.000)2 | 0.0002 |
Total From Investment Operations | 0.023 | 0.032 | 0.001 | 0.0002 | 0.006 | 0.014 |
Less Distributions: | ||||||
Distributions from net investment income | (0.023) | (0.032) | (0.001) | (0.000)2 | (0.006) | (0.014) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.023) | (0.032) | (0.001) | (0.000)2 | (0.006) | (0.014) |
Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
Total Return3 | 2.29% | 3.27% | 0.08% | 0.00%4 | 0.58% | 1.45% |
Ratios to Average Net Assets: | ||||||
Net expenses5 | 0.90%6 | 0.89% | 0.30% | 0.13% | 0.67% | 0.90% |
Net investment income | 4.51%6 | 3.50% | 0.08% | 0.00%4 | 0.53% | 1.44% |
Expense waiver/reimbursement7 | 0.07%6 | 0.11% | 0.70% | 0.87% | 0.34% | 0.11% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $522,818 | $1,246,548 | $691,193 | $735,469 | $750,118 | $591,844 |
1 | Per share numbers have been calculated using the average shares method. |
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 | Represents less than 0.01%. |
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. |
Six Months Ended (unaudited) 1/31/2024 | 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 | $1.00 |
Income From Investment Operations: | ||||||
Net investment income1 | 0.022 | 0.032 | 0.001 | 0.0002 | 0.005 | 0.013 |
Net realized gain (loss) | 0.000 | (0.001) | (0.000)2 | 0.0002 | (0.000)2 | 0.0002 |
Total From Investment Operations | 0.022 | 0.031 | 0.001 | 0.0002 | 0.005 | 0.013 |
Less Distributions: | ||||||
Distributions from net investment income | (0.022) | (0.031) | (0.001) | (0.000)2 | (0.005) | (0.013) |
Distributions from net realized gain | — | — | (0.000)2 | (0.000)2 | (0.000)2 | (0.000)2 |
Total Distributions | (0.022) | (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 | $1.00 |
Total Return3 | 2.22% | 3.11% | 0.06% | 0.00%4 | 0.50% | 1.31% |
Ratios to Average Net Assets: | ||||||
Net expenses5 | 1.04%6 | 1.04% | 0.33% | 0.13% | 0.76% | 1.04% |
Net investment income | 4.38%6 | 3.17% | 0.06% | 0.00%4 | 0.47% | 1.32% |
Expense waiver/reimbursement7 | 0.16%6 | 0.20% | 0.92% | 1.10% | 0.48% | 0.21% |
Supplemental Data: | ||||||
Net assets, end of period (000 omitted) | $1,110,979 | $1,080,745 | $719,191 | $767,050 | $653,747 | $496,252 |
1 | Per share numbers have been calculated using the average shares method. |
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 | Represents less than 0.01%. |
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. |
Assets: | |
Investment in repurchase agreements | $6,060,000,000 |
Investment in securities | 3,245,666,743 |
Investment in securities, at amortized cost and fair value | 9,305,666,743 |
Cash | 442,543 |
Income receivable | 4,131,680 |
Receivable for shares sold | 38,401,781 |
Total Assets | 9,348,642,747 |
Liabilities: | |
Payable for investments purchased | 100,000,000 |
Payable for shares redeemed | 23,779,766 |
Income distribution payable | 4,005,235 |
Payable for investment adviser fee (Note 4) | 27,518 |
Payable for administrative fee (Note 4) | 19,468 |
Payable for Directors’/Trustees’ fees (Note 4) | 7,374 |
Payable for distribution services fee (Note 4) | 639,671 |
Payable for other service fees (Notes 2 and 4) | 423,773 |
Accrued expenses (Note 4) | 392,605 |
Total Liabilities | 129,295,410 |
Net assets for 9,219,414,247 shares outstanding | $9,219,347,337 |
Net Assets Consist of: | |
Paid-in capital | $9,219,414,277 |
Total distributable earnings (loss) | (66,940) |
Total Net Assets | $9,219,347,337 |
Net Asset Value, Offering Price and Redemption Proceeds Per Share: | |
Institutional Shares: | |
$7,154,787,173 ÷ 7,154,839,065 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Service Shares: | |
$430,763,022 ÷ 430,766,165 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash II Shares: | |
$522,818,126 ÷ 522,821,926 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Cash Series Shares: | |
$1,110,979,016 ÷ 1,110,987,091 shares outstanding, no par value, unlimited shares authorized | $1.00 |
Investment Income: | |
Interest | $231,514,379 |
Expenses: | |
Investment adviser fee (Note 4) | 7,060,479 |
Administrative fee (Note 4) | 3,322,925 |
Custodian fees | 115,973 |
Transfer agent fees (Note 2) | 989,146 |
Directors’/Trustees’ fees (Note 4) | 18,387 |
Auditing fees | 12,801 |
Legal fees | 5,282 |
Portfolio accounting fees | 105,515 |
Distribution services fee (Note 4) | 4,961,282 |
Other service fees (Notes 2 and 4) | 2,908,842 |
Share registration costs | 353,480 |
Printing and postage | 54,001 |
Miscellaneous (Note 4) | 47,552 |
TOTAL EXPENSES | 19,955,665 |
Waivers and Reimbursements: | |
Waiver of investment adviser fee (Note 4) | (2,374,311) |
Waivers/reimbursements of other operating expenses (Notes 2 and 4) | (561,794) |
TOTAL WAIVERS AND REIMBURSEMENTS | (2,936,105) |
Net expenses | 17,019,560 |
Net investment income | 214,494,819 |
Change in net assets resulting from operations | $214,494,819 |
Six Months Ended (unaudited) 1/31/2024 | Year Ended 7/31/2023 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income | $214,494,819 | $191,753,008 |
Net realized gain (loss) | — | (25,648) |
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | 214,494,819 | 191,727,360 |
Distributions to Shareholders: | ||
Institutional Shares | (162,104,922) | (118,625,099) |
Service Shares | (6,972,093) | (202)1 |
Cash II Shares | (21,274,535) | (43,303,704) |
Cash Series Shares | (24,164,368) | (29,802,757) |
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS | (214,515,918) | (191,731,762) |
Share Transactions: | ||
Proceeds from sale of shares | 8,784,042,806 | 13,637,878,946 |
Net asset value of shares issued to shareholders in payment of distributions declared | 192,931,310 | 169,735,007 |
Cost of shares redeemed | (7,135,125,794) | (8,974,548,492) |
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS | 1,841,848,322 | 4,833,065,461 |
Change in net assets | 1,841,827,223 | 4,833,061,059 |
Net Assets: | ||
Beginning of period | 7,377,520,114 | 2,544,459,055 |
End of period | $9,219,347,337 | $7,377,520,114 |
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 | $23,164 | $(303) |
Service Shares | 1,031 | — |
Cash II Shares | 481,509 | (9,593) |
Cash Series Shares | 483,442 | — |
TOTAL | $989,146 | $(9,896) |
Other Service Fees Incurred | |
Service Shares | $350,602 |
Cash II Shares | 1,178,495 |
Cash Series Shares | 1,379,745 |
TOTAL | $2,908,842 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Institutional Shares: | Shares | Amount | Shares | Amount |
Shares sold | 5,123,028,431 | $5,123,028,431 | 7,687,386,035 | $7,687,386,035 |
Shares issued to shareholders in payment of distributions declared | 148,577,323 | 148,577,323 | 97,880,249 | 97,880,249 |
Shares redeemed | (3,166,974,778) | (3,166,974,778) | (3,869,151,652) | (3,869,151,652) |
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS | 2,104,630,976 | $2,104,630,976 | 3,916,114,632 | $3,916,114,632 |
Six Months Ended 1/31/2024 | Period Ended 7/31/20231 | |||
Service Shares: | Shares | Amount | Shares | Amount |
Shares sold | 725,967,276 | $725,967,276 | 50,000 | $50,000 |
Shares issued to shareholders in payment of distributions declared | — | — | — | — |
Shares redeemed | (295,251,111) | (295,251,111) | — | — |
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS | 430,716,165 | $430,716,165 | 50,000 | $50,000 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Cash II Shares: | Shares | Amount | Shares | Amount |
Shares sold | 879,307,857 | $879,307,857 | 2,788,262,301 | $2,788,262,301 |
Shares issued to shareholders in payment of distributions declared | 20,448,024 | 20,448,024 | 42,653,641 | 42,653,641 |
Shares redeemed | (1,623,490,034) | (1,623,490,034) | (2,275,564,208) | (2,275,564,208) |
NET CHANGE RESULTING FROM CASH II SHARE TRANSACTIONS | (723,734,153) | $(723,734,153) | 555,351,734 | $555,351,734 |
Six Months Ended 1/31/2024 | Year Ended 7/31/2023 | |||
Cash Series Shares: | Shares | Amount | Shares | Amount |
Shares sold | 2,055,739,242 | $2,055,739,242 | 3,162,180,610 | $3,162,180,610 |
Shares issued to shareholders in payment of distributions declared | 23,905,963 | 23,905,963 | 29,201,117 | 29,201,117 |
Shares redeemed | (2,049,409,871) | (2,049,409,871) | (2,829,832,632) | (2,829,832,632) |
NET CHANGE RESULTING FROM CASH SERIES SHARE TRANSACTIONS | 30,235,334 | $30,235,334 | 361,549,095 | $361,549,095 |
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS | 1,841,848,322 | $1,841,848,322 | 4,833,065,461 | $4,833,065,461 |
1 | Reflects operations for the period from July 3, 2023 (commencement of operations) to July 31, 2023. |
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 | $1,649,893 | $— |
Cash Series Shares | 3,311,389 | (551,898) |
TOTAL | $4,961,282 | $(551,898) |
Beginning Account Value 8/1/2023 | Ending Account Value 1/31/2024 | Expenses Paid During Period1 | |
Actual: | |||
Institutional Shares | $1,000 | $1,026.50 | $1.02 |
Service Shares | $1,000 | $1,025.20 | $2.29 |
Cash II Shares | $1,000 | $1,022.90 | $4.58 |
Cash Series Shares | $1,000 | $1,022.20 | $5.29 |
Hypothetical (assuming a 5% return before expenses): | |||
Institutional Shares | $1,000 | $1,024.13 | $1.02 |
Service Shares | $1,000 | $1,022.87 | $2.29 |
Cash II Shares | $1,000 | $1,020.61 | $4.57 |
Cash Series Shares | $1,000 | $1,019.91 | $5.28 |
1 | Expenses are equal to the Fund’s annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows: |
Institutional Shares | 0.20% |
Service Shares | 0.45% |
Cash II Shares | 0.90% |
Cash Series Shares | 1.04% |
![](https://capedge.com/proxy/N-CSRS/0001623632-24-000423/edelivery.jpg)
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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 |
Not Applicable
Item 3. | Audit Committee Financial Expert |
Not Applicable
Item 4. | Principal Accountant Fees and Services |
Not Applicable
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 18. | Recovery of Erroneously Awarded Compensation |
(a) | Not Applicable |
(b) | 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/ Jeremy D. Boughton
Jeremy D. Boughton
Principal Financial Officer
Date March 22, 2024
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 March 22, 2024
By /S/ Jeremy D. Boughton
Jeremy D. Boughton
Principal Financial Officer
Date March 22, 2024