# EDGAR Filing Document

**Accession Number:** 0001707560
**File Stem:** 0001145549-25-046969
**Filing Date:** 2025-7
**Character Count:** 32350
**Document Hash:** fbd08d61af93bf2fe083e40369775cf0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-046969.hdr.sgml**: 20250722

**ACCESSION NUMBER**: 0001145549-25-046969

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250722

**DATE AS OF CHANGE**: 20250722

**PERIOD START**: 20250531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Adviser Series
- **CENTRAL INDEX KEY:** 0001707560

**ORGANIZATION NAME:**
- **EIN:** 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:** 251139129

**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 Growth Fund (Series ID: S000066203)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000213948 | Class C Shares       |  |
| C000213949 | Institutional Shares | PIGDX           |
| C000213950 | Class R6 Shares      | REIGX           |
| C000213951 | Class A Shares       |  |

## 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 Growth Fund

- **b. EDGAR series identifier (if any):** S000066203

- **c. LEI of Series:** 254900M84ID4508EO322

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

- **a. Date of fiscal year-end:** 2025-05-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $499717306.76

**Total Liabilities:** $3516875.30

**Net Assets:** $496200431.46

**Cash Not Reported:** $213811.36

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000213949 | -1.68%               | 4.65%                | 4.96%                |
| Class ID C000213950 | -1.21%               | 4.62%                | 4.94%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11929541.00             | $-19791391.13                              |
| Month 2  | $896787.15               | $20046119.77                               |
| Month 3  | $5486719.10              | $17655831.84                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BayCurrent Inc                               | BayCurrent Inc                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     45800 | NS      | $2446345.42   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                       | SAP SE                                       | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     49222 | NS      | $14907374.92  | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Infineon Technologies AG                     | Infineon Technologies AG                     | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |     98820 | NS      | $3847285.24   | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferrari NV                                   | Ferrari NV                                   | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | IT        |      9129 | NS      | $4373219.88   | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi Ltd                                  | Hitachi Ltd                                  | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |    261700 | NS      | $7237215.57   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| TechnipFMC PLC                               | TechnipFMC PLC                               | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    130242 | NS      | $4057038.30   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| eMemory Technology Inc                       | eMemory Technology Inc                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     50000 | NS      | $3960989.30   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Burford Capital Ltd                          | Burford Capital Ltd                          | CUSIP: 000000000<br>LEI: 549300FUKUWFYJMT2277 | Long             | EC               | CORP              | US        |    373458 | NS      | $4802669.88   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| CaixaBank SA                                 | CaixaBank SA                                 | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | EC               | CORP              | ES        |    309932 | NS      | $2643269.18   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd                       | DBS Group Holdings Ltd                       | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |     74100 | NS      | $2570009.62   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| MakeMyTrip Ltd                               | MakeMyTrip Ltd                               | CUSIP: 000000000<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | EC               | CORP              | IN        |     23737 | NS      | $2412391.31   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanwha Aerospace Co Ltd                      | Hanwha Aerospace Co Ltd                      | CUSIP: 000000000<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |       887 | NS      | $81647.46     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                         | Tencent Holdings Ltd                         | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |    295044 | NS      | $18597535.53  | 3.75%             |  |  |  | No            |                  2 | On Loan: No      |
| BoneSupport Holding AB                       | BoneSupport Holding AB                       | CUSIP: 000000000<br>LEI: 549300COLY053IGTLD63 | Long             | EC               | CORP              | SE        |     77233 | NS      | $2048797.43   | 0.41%             |  |  |  | Yes           |                  2 | On Loan: No      |
| CyberArk Software Ltd                        | CyberArk Software Ltd                        | CUSIP: 000000000<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |     30649 | NS      | $11731824.22  | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial International Bank                | Commercial International Bank - Egypt (CIB)  | CUSIP: 000000000<br>LEI: 213800FIIXJAMEVRIH48 | Long             | EC               | CORP              | EG        |   1757960 | NS      | $2926989.27   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| MercadoLibre Inc                             | MercadoLibre Inc                             | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |      6870 | NS      | $17609802.30  | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria de Diseno Textil SA                | Industria de Diseno Textil SA                | CUSIP: 000000000<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |    124549 | NS      | $6750795.52   | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| On Holding AG                                | On Holding AG                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |     52721 | NS      | $3131100.19   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Nemetschek SE                                | Nemetschek SE                                | CUSIP: 000000000<br>LEI: 529900R0S2IX1S358J38 | Long             | EC               | CORP              | DE        |     22444 | NS      | $3118442.88   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Compass Group PLC                            | Compass Group PLC                            | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |    238741 | NS      | $8402267.34   | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd                                | AIA Group Ltd                                | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    313400 | NS      | $2602220.24   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD Co Ltd                                   | BYD Co Ltd                                   | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |     82000 | NS      | $4068730.01   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Max Healthcare Institute Ltd                 | Max Healthcare Institute Ltd                 | CUSIP: 000000000<br>LEI: 3358005LALYV4GZOYF67 | Long             | EC               | CORP              | IN        |    278901 | NS      | $3681923.99   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Qifu Technology Inc                          | Qifu Technology Inc                          | CUSIP: 88557W101<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    240346 | NS      | $9878220.60   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                              | AstraZeneca PLC                              | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    152172 | NS      | $11082686.76  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                                   | L'Oreal SA                                   | CUSIP: 000000000<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |      1855 | NS      | $784428.26    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Daiichi Sankyo Co Ltd                        | Daiichi Sankyo Co Ltd                        | CUSIP: 000000000<br>LEI: 353800XGIU2IHQGC9504 | Long             | EC               | CORP              | JP        |    242600 | NS      | $6480295.40   | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Resona Holdings Inc                          | Resona Holdings Inc                          | CUSIP: 000000000<br>LEI: 52990067JE75XZCYYT81 | Long             | EC               | CORP              | JP        |   1398100 | NS      | $12242268.47  | 2.47%             |  |  |  | No            |                  2 | On Loan: No      |
| TBC Bank Group PLC                           | TBC Bank Group PLC                           | CUSIP: 000000000<br>LEI: 213800T6NS9N2WQ3B328 | Long             | EC               | CORP              | GE        |     55863 | NS      | $3376574.21   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Trip.com Group Ltd                           | Trip.com Group Ltd                           | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | SG        |     56115 | NS      | $3515604.75   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                        | Schneider Electric SE                        | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     19222 | NS      | $4817128.63   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Coupang Inc                                  | Coupang Inc                                  | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |    218278 | NS      | $6122697.90   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Zijin Mining Group Co Ltd                    | Zijin Mining Group Co Ltd                    | CUSIP: 000000000<br>LEI: 836800JRNL2393Z2I561 | Long             | EC               | CORP              | CN        |   1658000 | NS      | $3692832.31   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Oddity Tech Ltd                              | Oddity Tech Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     19391 | NS      | $1443272.13   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ajinomoto Co Inc                             | Ajinomoto Co Inc                             | CUSIP: 000000000<br>LEI: 353800UT0TLROREPIC92 | Long             | EC               | CORP              | JP        |    287400 | NS      | $7176458.40   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Hanwha Aerospace Co Ltd                      | Hanwha Aerospace Co Ltd                      | CUSIP: 000000000<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |     12263 | NS      | $7222429.35   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Kuaishou Technology                          | Kuaishou Technology                          | CUSIP: 000000000<br>LEI: 300300FCDZBE6UP9ED24 | Long             | EC               | CORP              | CN        |    379800 | NS      | $2552845.99   | 0.51%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Shopify Inc                                  | Shopify Inc                                  | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |     45412 | NS      | $4869074.64   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Prysmian SpA                                 | Prysmian SpA                                 | CUSIP: 000000000<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |     41633 | NS      | $2680477.76   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Nintendo Co Ltd                              | Nintendo Co Ltd                              | CUSIP: 654445303<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |    244163 | NS      | $4990691.72   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                              | Gold Fields Ltd                              | CUSIP: 000000000<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |    366778 | NS      | $8302322.76   | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Rational AG                                  | Rational AG                                  | CUSIP: 000000000<br>LEI: 529900K139N6UFJ1A758 | Long             | EC               | CORP              | DE        |      5122 | NS      | $4207476.80   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| WiseTech Global Ltd                          | WiseTech Global Ltd                          | CUSIP: 000000000<br>LEI: 254900VE3AF301Q85K83 | Long             | EC               | CORP              | AU        |     88205 | NS      | $6089442.11   | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Full Truck Alliance Co Ltd                   | Full Truck Alliance Co Ltd                   | CUSIP: 35969L108<br>LEI: 984500884LB1DP8DAC57 | Long             | EC               | CORP              | CN        |    906140 | NS      | $10538408.20  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                             | Novo Nordisk A/S                             | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |     44803 | NS      | $3203414.50   | 0.65%             |  |  |  | No            |                  1 | On Loan: —       |
| Sika AG                                      | Sika AG                                      | CUSIP: 000000000<br>LEI: 549300R3N69ECGYPU434 | Long             | EC               | CORP              | CH        |     17091 | NS      | $4570215.41   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp                                 | Keyence Corp                                 | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |     17617 | NS      | $7441182.16   | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group               | Mitsubishi UFJ Financial Group Inc           | CUSIP: 606822104<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    588831 | NS      | $8314293.72   | 1.68%             |  |  |  | No            |                  1 | On Loan: —       |
| ASPEED Technology Inc                        | ASPEED Technology Inc                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     32000 | NS      | $4146611.48   | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Terumo Corp                                  | Terumo Corp                                  | CUSIP: 000000000<br>LEI: 353800JX1R4582QVK932 | Long             | EC               | CORP              | JP        |    280400 | NS      | $5159008.16   | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Hoya Corp                                    | Hoya Corp                                    | CUSIP: 000000000<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |     49641 | NS      | $5863162.13   | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Korea Aerospace Industries Ltd               | Korea Aerospace Industries Ltd               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     41004 | NS      | $2485348.10   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| TSMC                                         | Taiwan Semiconductor Manufacturing Co Ltd    | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    522000 | NS      | $16598716.13  | 3.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Zinka Logistics Solutions Ltd                | Zinka Logistics Solutions Ltd                | CUSIP: 000000000<br>LEI: 3358003IBMJFDHOYF615 | Long             | EC               | CORP              | IN        |    474847 | NS      | $2440944.49   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                    | Argenx SE                                    | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |     14829 | NS      | $8500872.54   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Aselsan Elektronik Sanayi Ve T               | Aselsan Elektronik Sanayi Ve Ticaret AS      | CUSIP: 000000000<br>LEI: 7890008XT4M710MU8714 | Long             | EC               | CORP              | TR        |    753048 | NS      | $2494335.01   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| L'OREAL                                      | L'OREAL                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |     19173 | NS      | $8107732.06   | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| ST Engineering                               | Singapore Technologies Engineering Ltd       | CUSIP: 000000000<br>LEI: 254900OEXGGWCR24DG90 | Long             | EC               | CORP              | SG        |   1001100 | NS      | $6070843.36   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Kongsberg Gruppen ASA                        | Kongsberg Gruppen ASA                        | CUSIP: 000000000<br>LEI: 5967007LIEEXZXJ9HK73 | Long             | EC               | CORP              | NO        |     50135 | NS      | $8816844.58   | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Rheinmetall AG                               | Rheinmetall AG                               | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |      6640 | NS      | $14144053.57  | 2.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Spotify Technology SA                        | Spotify Technology SA                        | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |     18352 | NS      | $12206649.28  | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Mildef Group AB                              | Mildef Group AB                              | CUSIP: 000000000<br>LEI: 9845009F7Q0D56B38270 | Long             | EC               | CORP              | SE        |    156715 | NS      | $4285306.72   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Gaztransport Et Technigaz SA                 | Gaztransport Et Technigaz SA                 | CUSIP: 000000000<br>LEI: 969500BVOHVZUUFWDT54 | Long             | EC               | CORP              | FR        |     32259 | NS      | $5999049.47   | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Alcon AG                                     | Alcon AG                                     | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |     83635 | NS      | $7187591.90   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Cameco Corp                                  | Cameco Corp                                  | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |    128835 | NS      | $7540712.55   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Eternal Ltd                                  | Zomato Ltd                                   | CUSIP: 000000000<br>LEI: 335800T4VOF9ETHF8W59 | Long             | EC               | CORP              | IN        |    891698 | NS      | $2481323.55   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| 3i Group PLC                                 | 3i Group PLC                                 | CUSIP: 000000000<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |     59599 | NS      | $3280543.36   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| PB Fintech Ltd                               | PB Fintech Ltd                               | CUSIP: 000000000<br>LEI: 98450083AC6B01HF1F87 | Long             | EC               | CORP              | IN        |    305809 | NS      | $6283135.77   | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Yubico AB                                    | Yubico AB                                    | CUSIP: 000000000<br>LEI: 549300I9RBIU9DW59H39 | Long             | EC               | CORP              | SE        |    325153 | NS      | $5267862.71   | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Dassault Systemes SE                         | Dassault Systemes SE                         | CUSIP: 000000000<br>LEI: 96950065LBWY0APQIM86 | Long             | EC               | CORP              | FR        |    122002 | NS      | $4573690.70   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Teck Resources Ltd                           | Teck Resources Ltd                           | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |    111206 | NS      | $4120182.30   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                    | Nestle SA                                    | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     25555 | NS      | $2722189.79   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Ypsomed Holding AG                           | Ypsomed Holding AG                           | CUSIP: 000000000<br>LEI: 391200QLIOTTBNPNSI14 | Long             | EC               | CORP              | CH        |      3918 | NS      | $1940352.58   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Northern Star Resources Ltd                  | Northern Star Resources Ltd                  | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |    465987 | NS      | $6297264.13   | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands               | NU Holdings Ltd/Cayman Islands               | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | BR        |   1088185 | NS      | $13069101.85  | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                              | ASML Holding NV                              | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      9167 | NS      | $6753970.59   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                       | UCB SA                                       | CUSIP: 000000000<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |     28756 | NS      | $5247839.03   | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc                                 | MediaTek Inc                                 | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |    101000 | NS      | $4187517.93   | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| KE Holdings Inc                              | KE Holdings Inc                              | CUSIP: 000000000<br>LEI: 254900RHVY072XPAZE03 | Long             | EC               | CORP              | CN        |    783100 | NS      | $4872174.66   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Federated Hermes Government Obligations Fund | Federated Hermes Government Obligations Fund | CUSIP: 608919718<br>LEI: 254900VAJ9169N7JRF45 | Long             | STIV             | RF                | US        |  10328333 | NS      | $10328332.74  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Silergy Corp                                 | Silergy Corp                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    138000 | NS      | $1582011.35   | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Grab Holdings Ltd                            | Grab Holdings Ltd                            | CUSIP: 000000000<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | SG        |   1169222 | NS      | $5694111.14   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-22

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

**Signature:** Stephen Van Meter

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

**Title:** Chief Compliance Officer