# EDGAR Filing Document

**Accession Number:** 0001707560
**File Stem:** 0001145549-23-002461
**Filing Date:** 2023-1
**Character Count:** 29311
**Document Hash:** 56f4d2876b4b84d209fcf87601486fef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-002461.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001145549-23-002461

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**PERIOD START**: 20221130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Adviser Series
- **CENTRAL INDEX KEY:** 0001707560
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23259
- **FILM NUMBER:** 23547752

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 1-800-341-7400

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Adviser Series
- **DATE OF NAME CHANGE:** 20200616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Hermes Adviser Series
- **DATE OF NAME CHANGE:** 20200615

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Adviser Series
- **DATE OF NAME CHANGE:** 20180820

## Series and Classes Contracts Data

### Federated Hermes International Developed Equity Fund (Series ID: S000065852)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000212736 | Institutional Shares | HIEIX           |
| C000212737 | Class A Shares       |  |
| C000212738 | Class C Shares       |  |
| C000212739 | Class R6 Shares      | HIERX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Federated Hermes Adviser Series

- **b. Investment Company Act file number:** 811-23259

- **c. CIK number of Registrant:** 0001707560

- **d. LEI of Registrant:** 2549001OZ5PPTI84LJ34

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** Federated Hermes Funds

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 15086-7561

  - **Telephone number:** 8003417400

**Item A.2. Information about the Series.**

- **a. Name of Series:** Federated Hermes International Developed Equity Fund

- **b. EDGAR series identifier (if any):** S000065852

- **c. LEI of Series:** 254900Q63EFAYMJC6L83

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-11-30

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $2271732.03

**Total Liabilities:** $150825.43

**Net Assets:** $2120906.60

**Cash Not Reported:** $132386.45

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000212736 | -22.77%              | 9.41%                | 14.33%               |
| Class ID C000212739 | -22.77%              | 9.41%                | 14.33%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-971615.15              | $-878215.97                                |
| Month 2  | $-570387.33              | $682649.60                                 |
| Month 3  | $1885.06                 | $255809.02                                 |

### Schedule of Portfolio Investments

| Name                               | Title                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Sampo Oyj                          | Sampo Oyj                                 | CUSIP: 000000000<br>LEI: 743700UF3RL386WIDA22 | Long             | EC               | CORP              | FI        |       832 | NS      | $42320.91     | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Storebrand ASA                     | Storebrand ASA                            | CUSIP: 000000000<br>LEI: 5967007LIEEXZX7NA051 | Long             | EC               | CORP              | NO        |      3715 | NS      | $33656.10     | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| ITOCHU Corp                        | ITOCHU Corp                               | CUSIP: 000000000<br>LEI: J48DJYXDTLHM30UMYI18 | Long             | EC               | CORP              | JP        |       400 | NS      | $12602.30     | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                   | Roche Holding AG                          | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |       139 | NS      | $45180.16     | 2.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                 | Vodafone Group PLC                        | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |      8573 | NS      | $9525.71      | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| KDDI Corp                          | KDDI Corp                                 | CUSIP: 000000000<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |       600 | NS      | $17957.58     | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Imdex Ltd                          | Imdex Ltd                                 | CUSIP: 000000000<br>LEI: 529900H31NX5KRKXB865 | Long             | EC               | CORP              | AU        |      7786 | NS      | $12971.94     | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Prudential PLC                     | Prudential PLC                            | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | GB        |      2028 | NS      | $24196.08     | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Heineken NV                        | Heineken NV                               | CUSIP: 000000000<br>LEI: 724500K5PTPSST86UQ23 | Long             | EC               | CORP              | NL        |       207 | NS      | $19083.88     | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd | Hong Kong Exchanges & Clearing Ltd        | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |       300 | NS      | $11972.68     | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| M&G PLC                            | M&G PLC                                   | CUSIP: 000000000<br>LEI: 254900TWUJUQ44TQJY84 | Long             | EC               | CORP              | GB        |      7506 | NS      | $17586.24     | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| TietoEVRY Oyj                      | TietoEVRY Oyj                             | CUSIP: 000000000<br>LEI: 549300EW2KM4KROKQV31 | Long             | EC               | CORP              | FI        |       781 | NS      | $21376.11     | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kao Corp                           | Kao Corp                                  | CUSIP: 000000000<br>LEI: 353800HM38HFCB8RGL63 | Long             | EC               | CORP              | JP        |       400 | NS      | $15962.86     | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Breville Group Ltd                 | Breville Group Ltd                        | CUSIP: 000000000<br>LEI: 529900MM4WH0KSB3KW37 | Long             | EC               | CORP              | AU        |       775 | NS      | $10884.48     | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Elkem ASA                          | Elkem ASA                                 | CUSIP: 000000000<br>LEI: 549300CVBE06T0SH6T76 | Long             | EC               | CORP              | NO        |      2586 | NS      | $9563.19      | 0.45%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Mitsubishi Chemical Group Corp     | Mitsubishi Chemical Holdings Corp         | CUSIP: 000000000<br>LEI: 353800YNKX4RQUGAR072 | Long             | EC               | CORP              | JP        |      2500 | NS      | $13360.79     | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Brenntag SE                        | Brenntag SE                               | CUSIP: 000000000<br>LEI: NNROIXVWJ7CPSR27SV97 | Long             | EC               | CORP              | DE        |       100 | NS      | $6250.08      | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Toagosei Co Ltd                    | Toagosei Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1200 | NS      | $10345.60     | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep NV                       | ING Groep NV                              | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |      4108 | NS      | $49948.56     | 2.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker BP ASA                        | Aker BP ASA                               | CUSIP: 000000000<br>LEI: 549300NFTY73920OYK69 | Long             | EC               | CORP              | NO        |       768 | NS      | $26793.61     | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| adidas AG                          | adidas AG                                 | CUSIP: 000000000<br>LEI: 549300JSX0Z4CW0V5023 | Long             | EC               | CORP              | DE        |       168 | NS      | $21422.96     | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                    | AstraZeneca PLC                           | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |       356 | NS      | $48172.11     | 2.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp                    | Sony Corp                                 | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |       600 | NS      | $49663.38     | 2.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Omron Corp                         | OMRON CORP                                | CUSIP: 000000000<br>LEI: 549300ZHW0TR2QZ0NY83 | Long             | EC               | CORP              | JP        |       400 | NS      | $20871.03     | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Stora Enso Oyj                     | Stora Enso Oyj                            | CUSIP: 000000000<br>LEI: 7437000ZP669LKUTZ738 | Long             | EC               | CORP              | FI        |      2385 | NS      | $35337.62     | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                    | ASML Holding NV                           | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |       105 | NS      | $63868.74     | 3.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola SA                       | Iberdrola SA                              | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |      1244 | NS      | $14080.75     | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                      | UniCredit SpA                             | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |      2600 | NS      | $35820.86     | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Vestas Wind Systems A/S            | Vestas Wind Systems A/S                   | CUSIP: 000000000<br>LEI: 549300DYMC8BGZZC8844 | Long             | EC               | CORP              | DK        |       425 | NS      | $11006.99     | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Nintendo Co Ltd                    | Nintendo Co Ltd                           | CUSIP: 000000000<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |       900 | NS      | $38732.15     | 1.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Prysmian SpA                       | Prysmian SpA                              | CUSIP: 000000000<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |      1074 | NS      | $37811.20     | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Legrand SA                         | Legrand SA                                | CUSIP: 000000000<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |       539 | NS      | $44571.90     | 2.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokio Marine Holdings Inc          | Tokio Marine Holdings Inc                 | CUSIP: 000000000<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |      2000 | NS      | $41288.86     | 1.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Volvo AB                           | Volvo AB                                  | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |      2026 | NS      | $37668.02     | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Husqvarna AB                       | Husqvarna AB                              | CUSIP: 000000000<br>LEI: 549300GYQIIJ3UXB7655 | Long             | EC               | CORP              | SE        |      2014 | NS      | $15953.83     | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| SOITEC                             | SOITEC                                    | CUSIP: 000000000<br>LEI: 969500ZR92SQCU9TST26 | Long             | EC               | CORP              | FR        |       154 | NS      | $25465.22     | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Kyocera Corp                       | Kyocera Corp                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       310 | NS      | $15892.63     | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Zurich Insurance Group AG          | ZURICH INSURANCE GROUP AG                 | CUSIP: 000000000<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |       102 | NS      | $49393.20     | 2.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Norsk Hydro ASA                    | Norsk Hydro ASA                           | CUSIP: 000000000<br>LEI: 549300N1SDN71ZZ8BO45 | Long             | EC               | CORP              | NO        |      4035 | NS      | $30446.39     | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Vinci SA                           | Vinci SA                                  | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |       441 | NS      | $44900.40     | 2.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Valmet Oyj                         | Valmet Oyj                                | CUSIP: 000000000<br>LEI: 213800D9O7FUQDH83V62 | Long             | EC               | CORP              | FI        |       416 | NS      | $10811.63     | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Argenx SE                          | Argenx SE                                 | CUSIP: 000000000<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |        44 | NS      | $17633.38     | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| T&D Holdings Inc                   | T&D Holdings Inc                          | CUSIP: 000000000<br>LEI: 3538008ARJ1MACEWA242 | Long             | EC               | CORP              | JP        |      1200 | NS      | $14639.76     | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| AXA SA                             | AXA SA                                    | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |      1041 | NS      | $29779.82     | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Yokohama Rubber Co Ltd/The         | Yokohama Rubber Co Ltd/The                | CUSIP: 000000000<br>LEI: 52990036XNWY2FMYWB76 | Long             | EC               | CORP              | JP        |      1000 | NS      | $16562.57     | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Smurfit Kappa Group PLC            | SMURFIT KAPPA GROUP PLC                   | CUSIP: 000000000<br>LEI: 635400CPLP8H5ITDVT56 | Long             | EC               | CORP              | IE        |       322 | NS      | $11736.58     | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Valeo                              | Valeo                                     | CUSIP: 000000000<br>LEI: 5493006IH2N2WMIBB742 | Long             | EC               | CORP              | FR        |      1347 | NS      | $25682.13     | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Smith & Nephew PLC                 | Smith & Nephew PLC                        | CUSIP: 000000000<br>LEI: 213800ZTMDN8S67S1H61 | Long             | EC               | CORP              | GB        |      2331 | NS      | $30507.48     | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Var Energi ASA                     | Var Energi AS                             | CUSIP: 000000000<br>LEI: 549300LIVN3FFOJN2K47 | Long             | EC               | CORP              | NO        |      7354 | NS      | $27135.30     | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Svenska Cellulosa AB SCA           | Svenska Cellulosa AB SCA                  | CUSIP: 000000000<br>LEI: 549300FW5JDRV1IJ0M67 | Long             | EC               | CORP              | SE        |      1239 | NS      | $16967.40     | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Australia & New Zealand Bankin     | Australia & New Zealand Banking Group Ltd | CUSIP: 000000000<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | EC               | CORP              | AU        |      2677 | NS      | $45456.06     | 2.14%             |  |  |  | No            |                  2 | On Loan: No      |
| NEC Corp                           | NEC Corp                                  | CUSIP: 000000000<br>LEI: 5493000QYMPFRTEY4K28 | Long             | EC               | CORP              | JP        |       400 | NS      | $14210.59     | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP Group Ltd                      | BHP Group Ltd                             | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |      1251 | NS      | $39014.23     | 1.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Kurita Water Industries Ltd        | Kurita Water Industries Ltd               | CUSIP: 000000000<br>LEI: 52990086GS2ON69UMX34 | Long             | EC               | CORP              | JP        |       900 | NS      | $40210.82     | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Red Electrica Corp SA              | Red Electrica Corp SA                     | CUSIP: 000000000<br>LEI: 5493009HMD0C90GUV498 | Long             | EC               | CORP              | ES        |       502 | NS      | $8822.66      | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Daifuku Co Ltd                     | Daifuku Co Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       155 | NS      | $8061.98      | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| NTT                                | Nippon Telegraph & Telephone Corp         | CUSIP: 000000000<br>LEI: 353800VHQU5VIXVUA841 | Long             | EC               | CORP              | JP        |       293 | NS      | $8119.02      | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Renault SA                         | Renault SA                                | CUSIP: 000000000<br>LEI: 969500F7JLTX36OUI695 | Long             | EC               | CORP              | FR        |       408 | NS      | $14906.50     | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Yaoko Co Ltd                       | Yaoko Co Ltd                              | CUSIP: 000000000<br>LEI: 353800Y2SZOLTECIV233 | Long             | EC               | CORP              | JP        |       314 | NS      | $15367.77     | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp                  | Toyota Motor Corp                         | CUSIP: 000000000<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |      2700 | NS      | $39618.82     | 1.87%             |  |  |  | No            |                  2 | On Loan: No      |
| GrainCorp Ltd                      | GrainCorp Ltd                             | CUSIP: 000000000<br>LEI: 529900XVBL825SSW9081 | Long             | EC               | CORP              | AU        |      7709 | NS      | $42866.12     | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd                      | AIA Group Ltd                             | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |      3786 | NS      | $38613.36     | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Anheuser-Busch InBev SA/NV         | Anheuser-Busch InBev SA/NV                | CUSIP: 000000000<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |       266 | NS      | $15632.38     | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Honda Motor Co Ltd                 | Honda Motor Co Ltd                        | CUSIP: 000000000<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | EC               | CORP              | JP        |       400 | NS      | $9771.91      | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Fresenius Medical Care AG & Co     | Fresenius Medical Care AG & Co KGaA       | CUSIP: 000000000<br>LEI: 549300CP8NY40UP89Q40 | Long             | EC               | CORP              | DE        |       159 | NS      | $4952.02      | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Merck KGaA                         | Merck KGaA                                | CUSIP: 000000000<br>LEI: 529900OAREIS0MOPTW25 | Long             | EC               | CORP              | DE        |       108 | NS      | $19568.15     | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| City Developments Ltd              | City Developments Ltd                     | CUSIP: 000000000<br>LEI: 254900BPLPJS0RJ72373 | Long             | EC               | CORP              | SG        |      5300 | NS      | $32464.72     | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Epiroc AB                          | Epiroc AB                                 | CUSIP: 000000000<br>LEI: 5493004Q73OEYW1SPE91 | Long             | EC               | CORP              | SE        |      1774 | NS      | $34540.67     | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Metso Outotec Oyj                  | Metso Outotec Oyj                         | CUSIP: 000000000<br>LEI: 549300R0VN9C371W0E07 | Long             | EC               | CORP              | FI        |      2358 | NS      | $22264.59     | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Nitto Denko Corp                   | Nitto Denko Corp                          | CUSIP: 000000000<br>LEI: 3538009GX5P09USH2J25 | Long             | EC               | CORP              | JP        |       300 | NS      | $18999.43     | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi Ltd                        | Hitachi Ltd                               | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |       700 | NS      | $37618.53     | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S                   | Novo Nordisk A/S                          | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |       513 | NS      | $64222.31     | 3.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                          | NESTLE SA                                 | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |       507 | NS      | $60332.59     | 2.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Panasonic Holdings Corp            | Panasonic Corp                            | CUSIP: 000000000<br>LEI: 254900GE1G59KGWPHX32 | Long             | EC               | CORP              | JP        |      3600 | NS      | $33616.46     | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Lonza Group AG                     | Lonza Group AG                            | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |        55 | NS      | $29069.39     | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Square Enix Holdings Co Ltd        | Square Enix Holdings Co Ltd               | CUSIP: 000000000<br>LEI: 529900KCRNRDF8DIA489 | Long             | EC               | CORP              | JP        |       200 | NS      | $8953.18      | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Tate & Lyle PLC                    | Tate & Lyle PLC                           | CUSIP: 000000000<br>LEI: 2138008K14474WPKZ244 | Long             | EC               | CORP              | GB        |      4800 | NS      | $42773.45     | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-24

**Name of Applicant:** Federated Hermes Adviser Series

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes Adviser Series

**Title:** Chief Compliance Officer