# EDGAR Filing Document

**Accession Number:** 0001707560
**File Stem:** 0001193125-26-020452
**Filing Date:** 2026-1
**Character Count:** 20554
**Document Hash:** 521e7d8e5052a6f7406aa6beb0488161
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-020452.hdr.sgml**: 20260123

**ACCESSION NUMBER**: 0001193125-26-020452

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260123

**DATE AS OF CHANGE**: 20260123

**PERIOD START**: 20260531

**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:** 26553671

**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 Emerging Markets Equity Fund (Series ID: S000066201)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000213940 | Class C Shares       |  |
| C000213941 | Class R6 Shares      | FRIEX           |
| C000213942 | Institutional Shares | PIEFX           |
| C000213943 | 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 Emerging Markets Equity Fund

- **b. EDGAR series identifier (if any):** S000066201

- **c. LEI of Series:** 2549007TB3APR22X3X65

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $46679411.51

**Total Liabilities:** $364542.37

**Net Assets:** $46314869.14

**Cash Not Reported:** $731.09

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000213941 | 10.14%               | 1.75%                | -3.11%               |
| Class ID C000213942 | 10.20%               | 1.71%                | -3.11%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $48243.70                | $4461448.74                                |
| Month 2  | $449425.49               | $445292.37                                 |
| Month 3  | $400413.31               | $-1963272.69                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Eternal Ltd                                  | Zomato Ltd                                   | CUSIP: 000000000<br>LEI: 335800T4VOF9ETHF8W59 | Long             | EC               | CORP              | IN        |    100733 | NS      | $338658.50    | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Ningbo Tuopu Group Co Ltd                    | Ningbo Tuopu Group Co Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     24100 | NS      | $215104.60    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| China Merchants Bank Co Ltd                  | China Merchants Bank Co Ltd                  | CUSIP: 000000000<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |     62500 | NS      | $419748.03    | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Frontken Corp Bhd                            | Frontken Corp Bhd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |    609400 | NS      | $641071.67    | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Grab Holdings Ltd                            | Grab Holdings Ltd                            | CUSIP: 000000000<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | SG        |    135448 | NS      | $738191.60    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Zijin Mining Group Co Ltd                    | Zijin Mining Group Co Ltd                    | CUSIP: 000000000<br>LEI: 836800JRNL2393Z2I561 | Long             | EC               | CORP              | CN        |    464022 | NS      | $1841938.97   | 3.98%             |  |  |  | No            |                  2 | On Loan: No      |
| KE Holdings Inc                              | KE Holdings Inc                              | CUSIP: 000000000<br>LEI: 254900RHVY072XPAZE03 | Long             | EC               | CORP              | CN        |     97400 | NS      | $563697.55    | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Federated Hermes Government Obligations Fund | Federated Hermes Government Obligations Fund | CUSIP: 608919718<br>LEI: 254900VAJ9169N7JRF45 | Long             | STIV             | RF                | US        |   2159346 | NS      | $2159346.13   | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang Inc                                  | Coupang Inc                                  | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |     26950 | NS      | $758912.00    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| TBC Bank Group PLC                           | TBC Bank Group PLC                           | CUSIP: 000000000<br>LEI: 213800T6NS9N2WQ3B328 | Long             | EC               | CORP              | GE        |      5110 | NS      | $276272.96    | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| China Construction Bank Corp                 | China Construction Bank Corp                 | CUSIP: 000000000<br>LEI: 5493001KQW6DM7KEDR62 | Long             | EC               | CORP              | CN        |    365000 | NS      | $383551.92    | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Zijin Gold International Co Lt               | Zijin Gold International Co Ltd              | CUSIP: 000000000<br>LEI: 254900FINUJR4MZ8A417 | Long             | EC               | CORP              | HK        |      1639 | NS      | $29303.76     | 0.06%             |  |  |  | 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        |     59992 | NS      | $259896.26    | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Max Healthcare Institute Ltd                 | Max Healthcare Institute Ltd                 | CUSIP: 000000000<br>LEI: 3358005LALYV4GZOYF67 | Long             | EC               | CORP              | IN        |     85719 | NS      | $1114115.16   | 2.41%             |  |  |  | No            |                  2 | On Loan: No      |
| ChinaAMC Hang Seng Biotech ETF               | ChinaAMC Hang Seng Biotech ETF               | CUSIP: 000000000<br>LEI: 213800QX9USZ43HNYZ29 | Long             | EC               | RF                | HK        |     78300 | NS      | $160722.24    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd                      | Reliance Industries Ltd                      | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |     23222 | NS      | $407241.86    | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Biologics Co Ltd                     | Samsung Biologics Co Ltd                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       191 | NS      | $209153.78    | 0.45%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NAURA Technology Group Co Ltd                | NAURA Technology Group Co Ltd                | CUSIP: 000000000<br>LEI: 300300JI5I0B95GO5C39 | Long             | EC               | CORP              | CN        |     10935 | NS      | $662781.52    | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackBuck Ltd                                | Zinka Logistics Solutions Ltd                | CUSIP: 000000000<br>LEI: 3358003IBMJFDHOYF615 | Long             | EC               | CORP              | IN        |     39369 | NS      | $293807.75    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Bilibili Inc                                 | Bilibili Inc                                 | CUSIP: 000000000<br>LEI: 5493008V60M52L3PIS45 | Long             | EC               | CORP              | CN        |     21620 | NS      | $577779.98    | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| DLF Ltd                                      | DLF Ltd                                      | CUSIP: 000000000<br>LEI: 335800PJLUEOB8914F48 | Long             | EC               | CORP              | IN        |     22170 | NS      | $179456.12    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| TSMC                                         | Taiwan Semiconductor Manufacturing Co Ltd    | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    139385 | NS      | $6407320.38   | 13.83%            |  |  |  | No            |                  2 | On Loan: No      |
| Capitec Bank Holdings Ltd                    | Capitec Bank Holdings Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |      5652 | NS      | $1281662.46   | 2.77%             |  |  |  | No            |                  2 | On Loan: No      |
| PB Fintech Ltd                               | PB Fintech Ltd                               | CUSIP: 000000000<br>LEI: 98450083AC6B01HF1F87 | Long             | EC               | CORP              | IN        |     55600 | NS      | $1130451.66   | 2.44%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd                                | HDFC Bank Ltd                                | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     16828 | NS      | $619606.96    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Varun Beverages Ltd                          | Varun Beverages Ltd                          | CUSIP: 000000000<br>LEI: 33580058NWEMWBDNMD48 | Long             | EC               | CORP              | IN        |     82623 | NS      | $444987.07    | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| APR Corp/Korea                               | APR Corp/Korea                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3395 | NS      | $591261.69    | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| CATL                                         | Contemporary Amperex Technology Co Ltd       | CUSIP: 000000000<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |     17660 | NS      | $934561.43    | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Korea Aerospace Industries Ltd               | Korea Aerospace Industries Ltd               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      8996 | NS      | $667360.86    | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Episholdings Co Ltd                  | Samsung Episholdings Co Ltd                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       103 | NS      | $30045.90     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ADNOC Drilling Co PJSC                       | ADNOC Drilling Co PJSC                       | CUSIP: 000000000<br>LEI: 254900JPRSQL1PM0JV19 | Long             | EC               | CORP              | AE        |    421134 | NS      | $599644.16    | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc                                 | MediaTek Inc                                 | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |     25704 | NS      | $1143814.00   | 2.47%             |  |  |  | No            |                  2 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands               | NU Holdings Ltd/Cayman Islands               | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | BR        |    110072 | NS      | $1914152.08   | 4.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEED Technology Inc                        | ASPEED Technology Inc                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      6274 | NS      | $1471750.17   | 3.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Full Truck Alliance Co Ltd                   | Full Truck Alliance Co Ltd                   | CUSIP: 35969L108<br>LEI: 984500884LB1DP8DAC57 | Long             | EC               | CORP              | CN        |     93858 | NS      | $1065288.30   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| DiDi Global Inc                              | DiDi Global Inc                              | CUSIP: 23292E108<br>LEI: 8368006Y2DHY77ADSY31 | Long             | EC               | CORP              | CN        |     38786 | NS      | $207505.10    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                    | Alibaba Group Holding Ltd                    | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |    144719 | NS      | $2852013.42   | 6.16%             |  |  |  | No            |                  2 | On Loan: No      |
| MercadoLibre Inc                             | MercadoLibre Inc                             | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |       930 | NS      | $1926755.40   | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial International Bank                | Commercial International Bank - Egypt (CIB)  | CUSIP: 000000000<br>LEI: 213800FIIXJAMEVRIH48 | Long             | EC               | CORP              | EG        |    153083 | NS      | $345424.64    | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                         | Tencent Holdings Ltd                         | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |     52564 | NS      | $4154165.55   | 8.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Southern Copper Corp                         | Southern Copper Corp                         | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |      2288 | NS      | $308376.64    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                   | SAMSUNG ELECTRONICS CO LTD                   | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     11235 | NS      | $767500.47    | 1.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electro-Mechanics Co L               | Samsung Electro-Mechanics Co Ltd             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3072 | NS      | $525604.60    | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| SK hynix Inc                                 | SK Hynix Inc                                 | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      5729 | NS      | $2063478.36   | 4.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Gold Fields Ltd                              | Gold Fields Ltd                              | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     18754 | NS      | $804359.06    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| PING AN                                      | Ping An Insurance Group Co of China Ltd      | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |     43000 | NS      | $314479.56    | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Kuaishou Technology                          | Kuaishou Technology                          | CUSIP: 000000000<br>LEI: 300300FCDZBE6UP9ED24 | Long             | EC               | CORP              | CN        |    126000 | NS      | $1102644.60   | 2.38%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Hanwha Aerospace Co Ltd                      | Hanwha Aerospace Co Ltd                      | CUSIP: 000000000<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |      1321 | NS      | $766322.57    | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-23

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

**Signature:** Stephen Van Meter

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

**Title:** Chief Compliance Officer