# EDGAR Filing Document

**Accession Number:** 0001707560
**File Stem:** 0001193125-25-329830
**Filing Date:** 2025-12
**Character Count:** 21310
**Document Hash:** 7865dc971586186f3ca35be70bc14be2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-329830.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0001193125-25-329830

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20251031

**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:** 251595047

**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 SDG Engagement Equity Fund (Series ID: S000063461)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000205625 | Institutional Shares | FHESX           |
| C000205626 | Class A Shares       | FHEQX           |
| C000205627 | Class C Shares       |  |
| C000205628 | Class R6 Shares      | FHERX           |

## 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 SDG Engagement Equity Fund

- **b. EDGAR series identifier (if any):** S000063461

- **c. LEI of Series:** 254900GR0ZK60M93XJ38

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $99589041.48

**Total Liabilities:** $288611.94

**Net Assets:** $99300429.54

**Cash Not Reported:** $1783293.49

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000205625 | 4.53%                | -1.86%               | -2.80%               |
| Class ID C000205626 | 4.54%                | -1.86%               | -2.81%               |
| Class ID C000205628 | 4.52%                | -1.85%               | -2.80%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $64800.23                | $4400410.77                                |
| Month 2  | $186665.54               | $-2209241.19                               |
| Month 3  | $836972.23               | $-3622801.28                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Diversified Energy Co PLC      | Diversified Energy Co PLC         | CUSIP: 000000000<br>LEI: 213800YR9TFRVHPGOS67 | Long             | EC               | CORP              | US        |    115204 | NS      | $1452498.61   | 1.46%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Huhtamaki Oyj                  | Huhtamaki OYJ                     | CUSIP: 000000000<br>LEI: 5493007050SJVMXN6L29 | Long             | EC               | CORP              | FI        |     41832 | NS      | $1405078.37   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| WEX Inc                        | WEX Inc                           | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |      9366 | NS      | $1366312.08   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE              | Brunswick Corp/DE                 | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |     30780 | NS      | $2034865.80   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc         | Tyler Technologies Inc            | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      3048 | NS      | $1451640.48   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsonite Group SA             | SAMSONITE INTERNATIONAL SA        | CUSIP: 000000000<br>LEI: 549300UULS5HYFJSEL12 | Long             | EC               | CORP              | US        |    756892 | NS      | $1585467.28   | 1.60%             |  |  |  | Yes           |                  2 | On Loan: No      |
| DCC PLC                        | DCC PLC                           | CUSIP: 000000000<br>LEI: 213800UPS1QEE4TD3T45 | Long             | EC               | CORP              | IE        |     30599 | NS      | $2017464.47   | 2.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Maximus Inc                    | Maximus Inc                       | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     23420 | NS      | $1946670.40   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Laboratories Inc       | Silicon Laboratories Inc          | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |     17924 | NS      | $2349477.92   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America I | Reinsurance Group of America Inc  | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |     14054 | NS      | $2564292.84   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Nissan Chemical Corp           | Nissan Chemical Corp              | CUSIP: 000000000<br>LEI: 3538002E4L1CUGJFFU25 | Long             | EC               | CORP              | JP        |     33230 | NS      | $1121600.43   | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Technogym SpA                  | Technogym SpA                     | CUSIP: 000000000<br>LEI: 815600B9149F66E77F76 | Long             | EC               | CORP              | IT        |    122249 | NS      | $2212000.82   | 2.23%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Horiba Ltd                     | HORIBA LTD                        | CUSIP: 000000000<br>LEI: 529900OOTWPYSNW0EC84 | Long             | EC               | CORP              | JP        |     27962 | NS      | $2598013.99   | 2.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Eagle Materials Inc            | Eagle Materials Inc               | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      8494 | NS      | $1803446.08   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsara Inc                    | Samsara Inc                       | CUSIP: 79589L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26474 | NS      | $1063460.58   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc        | Comfort Systems USA Inc           | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      1303 | NS      | $1258150.74   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors Inc              | Clean Harbors Inc                 | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      7075 | NS      | $1489358.25   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Azelis Group NV                | Azelis Group NV                   | CUSIP: 000000000<br>LEI: 699400M9RRMTV264FM70 | Long             | EC               | CORP              | BE        |    112891 | NS      | $1335654.25   | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Aalberts NV                    | Aalberts Industries NV            | CUSIP: 000000000<br>LEI: 549300EMP9DT6Q35HZ31 | Long             | EC               | CORP              | NL        |     54162 | NS      | $1724417.10   | 1.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Techtronic Industries Co Ltd   | Techtronic Industries Co Ltd      | CUSIP: 000000000<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |    180740 | NS      | $2113134.61   | 2.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Trex Co Inc                    | Trex Co Inc                       | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28666 | NS      | $1385141.12   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services I | West Pharmaceutical Services Inc  | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |      7420 | NS      | $2092959.40   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd                  | Credicorp Ltd                     | CUSIP: 000000000<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | PE        |      8540 | NS      | $2228940.00   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                        | PTC Inc                           | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |     16422 | NS      | $3260423.88   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Belimo Holding AG              | Belimo Holding AG                 | CUSIP: 000000000<br>LEI: 506700339DLX749VEM23 | Long             | EC               | CORP              | CH        |      1110 | NS      | $1194790.94   | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Molten Ventures PLC            | Draper Esprit PLC                 | CUSIP: 000000000<br>LEI: 213800IPCR3SAYJWSW10 | Long             | EC               | CORP              | GB        |    271617 | NS      | $1659409.11   | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Equifax Inc                    | Equifax Inc                       | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |      9687 | NS      | $2044925.70   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                     | KIRBY CORP                        | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     15857 | NS      | $1640882.36   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                 | Littelfuse Inc                    | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |      6946 | NS      | $1690031.26   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Zones Holdings Co Ltd     | Blue Zones Holdings Co Ltd        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     45090 | NS      | $2294125.49   | 2.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Core & Main Inc                | Core & Main Inc                   | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35045 | NS      | $1828648.10   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                     | STERIS PLC                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11938 | NS      | $2813786.60   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| AFC Energy PLC                 | AFC Energy PLC                    | CUSIP: 000000000<br>LEI: 213800SRJST19GNS9U35 | Long             | EC               | CORP              | GB        |   4309914 | NS      | $481267.48    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Open House Group Co Ltd        | Open House Co Ltd                 | CUSIP: 000000000<br>LEI: 529900WQOGPBIJEHW865 | Long             | EC               | CORP              | JP        |     33554 | NS      | $1613104.82   | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Wintrust Financial Corp        | Wintrust Financial Corp           | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     24468 | NS      | $3181329.36   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc                   | Assurant Inc                      | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |      8768 | NS      | $1856360.96   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc          | RPM International Inc             | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |     22935 | NS      | $2506336.80   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Nifco Inc/Japan                | Nifco Inc/Japan                   | CUSIP: 654101104<br>LEI: 353800JMDOH68J9I5140 | Long             | EC               | CORP              | JP        |     50933 | NS      | $1477427.08   | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| AAON Inc                       | AAON Inc                          | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9977 | NS      | $981637.03    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Burckhardt Compression Holding | Burckhardt Compression Holding AG | CUSIP: 000000000<br>LEI: 5067004N56DLX7GY3E95 | Long             | EC               | CORP              | CH        |      2952 | NS      | $2039813.78   | 2.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ECORA RESOURCES PLC            | ECORA RESOURCES PLC               | CUSIP: 000000000<br>LEI: 213800LXSV317746JZ71 | Long             | EC               | CORP              | GB        |    939135 | NS      | $1186469.91   | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| AptarGroup Inc                 | AptarGroup Inc                    | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |     19205 | NS      | $2227972.05   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Glanbia PLC                    | Glanbia PLC                       | CUSIP: 000000000<br>LEI: 635400SRMCBHVMSKJS84 | Long             | EC               | CORP              | IE        |     87701 | NS      | $1483247.60   | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Ansell Ltd                     | Ansell Ltd                        | CUSIP: 000000000<br>LEI: 549300NEGJ5G23VCJM45 | Long             | EC               | CORP              | AU        |    105996 | NS      | $2529247.74   | 2.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Harworth Group PLC             | Harworth Group PLC                | CUSIP: 000000000<br>LEI: 213800R8JSSGK2KPFG21 | Long             | EC               | CORP              | GB        |    616675 | NS      | $1329519.87   | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Breedon Group PLC              | Breedon Group PLC                 | CUSIP: 000000000<br>LEI: 213800DQGNQE3X76WS92 | Long             | EC               | CORP              | GB        |    245816 | NS      | $1113246.00   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Viscofan SA                    | Viscofan SA                       | CUSIP: 000000000<br>LEI: 95980020140005684765 | Long             | EC               | CORP              | ES        |     30506 | NS      | $1895141.80   | 1.91%             |  |  |  | No            |                  2 | On Loan: No      |
| SSP Group Plc                  | SSP Group Plc                     | CUSIP: 000000000<br>LEI: 213800QGNIWTXFMENJ24 | Long             | EC               | CORP              | GB        |    546575 | NS      | $1102840.25   | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| ICU Medical Inc                | ICU Medical Inc                   | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |     12951 | NS      | $1555285.59   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc   | Simpson Manufacturing Co Inc      | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |     11886 | NS      | $2097879.00   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Bechtle AG                     | Bechtle AG                        | CUSIP: 000000000<br>LEI: 529900HA2QT774RUXW59 | Long             | EC               | CORP              | DE        |     22918 | NS      | $968068.87    | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Merlin Properties Socimi SA    | Merlin Properties Socimi SA       | CUSIP: 000000000<br>LEI: 959800L8KD863DP30X04 | Long             | EC               | CORP              | ES        |    130626 | NS      | $2033940.87   | 2.05%             |  |  |  | No            |                  2 | On Loan: No      |
| nVent Electric PLC             | nVent Electric PLC                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     33229 | NS      | $3799736.15   | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp            | Alliant Energy Corp               | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |     16350 | NS      | $1092507.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-23

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

**Signature:** Stephen Van Meter

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

**Title:** Chief Compliance Officer