# EDGAR Filing Document

**Accession Number:** 0001707560
**File Stem:** 0001145549-25-052510
**Filing Date:** 2025-8
**Character Count:** 19829
**Document Hash:** bc31f808b79f499c861c53f74cb1104b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-052510.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001145549-25-052510

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**PERIOD START**: 20250630

**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:** 251243023

**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 U.S. SMID Fund (Series ID: S000068640)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000219574 | Institutional Shares | FHUMX           |
| C000219575 | Class A Shares       |  |
| C000219576 | Class C 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 U.S. SMID Fund

- **b. EDGAR series identifier (if any):** S000068640

- **c. LEI of Series:** 254900BRII365YCAVZ24

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $4739757.46

**Total Liabilities:** $127933.73

**Net Assets:** $4611823.73

**Cash Not Reported:** $136034.34

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000219574 | -1.21%               | 6.26%                | 3.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-6918.37                | $-46123.87                                 |
| Month 2  | $0.00                    | $260001.53                                 |
| Month 3  | $41364.31                | $104824.49                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ICU Medical Inc                  | ICU Medical Inc                  | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |       557 | NS      | $73607.55     | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                     | Teradyne Inc                     | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      1147 | NS      | $103138.24    | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc             | Chart Industries Inc             | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |       640 | NS      | $105376.00    | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Inc              | Bentley Systems Inc              | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |      1548 | NS      | $83545.56     | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC               | nVent Electric PLC               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      1492 | NS      | $109289.00    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                      | Trex Co Inc                      | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1361 | NS      | $74011.18     | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Lazard Inc                       | Lazard Inc                       | CUSIP: 52110M109<br>LEI: 254900RIBCDJSUFG1A11 | Long             | EC               | CORP              | US        |      1542 | NS      | $73985.16     | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services Inc | West Pharmaceutical Services Inc | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |       472 | NS      | $103273.60    | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                        | Pool Corp                        | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |       202 | NS      | $58878.96     | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                          | PTC Inc                          | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |       713 | NS      | $122878.42    | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc    | Martin Marietta Materials Inc    | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |       165 | NS      | $90578.40     | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting Inc               | FTI Consulting Inc               | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |       259 | NS      | $41828.50     | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                      | Equifax Inc                      | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |       524 | NS      | $135909.88    | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Descartes Systems Group Inc/Th   | Descartes Systems Group Inc/The  | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |       913 | NS      | $92801.89     | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                   | Littelfuse Inc                   | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |       292 | NS      | $66205.16     | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc            | ESCO Technologies Inc            | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |       513 | NS      | $98429.31     | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                  | Core & Main Inc                  | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1589 | NS      | $95896.15     | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                       | STERIS PLC                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       304 | NS      | $73026.88     | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp          | Wintrust Financial Corp          | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |       889 | NS      | $110218.22    | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc                     | Assurant Inc                     | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |       355 | NS      | $70108.95     | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| RPM International Inc            | RPM International Inc            | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |       730 | NS      | $80183.20     | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Financial System Inc   | Community Bank System Inc        | CUSIP: 203607106<br>LEI: 5299008N6YHE6GCP1E80 | Long             | EC               | CORP              | US        |      2058 | NS      | $117038.46    | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Inc                     | Woodward Inc                     | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |       519 | NS      | $127201.71    | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| AAON Inc                         | AAON Inc                         | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1036 | NS      | $76405.00     | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                      | Revvity Inc                      | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |       561 | NS      | $54259.92     | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup Inc                   | AptarGroup Inc                   | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |       618 | NS      | $96673.74     | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc           | Guidewire Software Inc           | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |       558 | NS      | $131381.10    | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors Inc                | Clean Harbors Inc                | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |       278 | NS      | $64268.04     | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Palomar Holdings Inc             | Palomar Holdings Inc             | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               | CORP              | US        |       497 | NS      | $76662.25     | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc     | Simpson Manufacturing Co Inc     | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |       477 | NS      | $74082.87     | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corp International/US    | Service Corp International/US    | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |       902 | NS      | $73422.80     | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group Inc    | Jefferies Financial Group Inc    | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |      1739 | NS      | $95105.91     | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations Inc   | Fortune Brands Innovations Inc   | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |       628 | NS      | $32329.44     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                      | Cognex Corp                      | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |      1854 | NS      | $58808.88     | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Azenta Inc                       | Azenta Inc                       | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |      1835 | NS      | $56481.30     | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corp                     | Vericel Corp                     | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |      1341 | NS      | $57059.55     | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| WEX Inc                          | WEX Inc                          | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |       582 | NS      | $85489.98     | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE                | Brunswick Corp/DE                | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |       931 | NS      | $51428.44     | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc              | Axon Enterprise Inc              | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |       448 | NS      | $370917.12    | 8.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc           | Tyler Technologies Inc           | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |       250 | NS      | $148210.00    | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc            | Lantheus Holdings Inc            | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |       716 | NS      | $58611.76     | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Rad Laboratories Inc         | Bio-Rad Laboratories Inc         | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |       350 | NS      | $84462.00     | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                      | Maximus Inc                      | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |      1366 | NS      | $95893.20     | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Laboratories Inc         | Silicon Laboratories Inc         | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |       786 | NS      | $115824.96    | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America I   | Reinsurance Group of America Inc | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |       547 | NS      | $108502.92    | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                          | NVR Inc                          | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |        11 | NS      | $81242.26     | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc              | Eagle Materials Inc              | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |       485 | NS      | $98023.35     | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsara Inc                      | Samsara Inc                      | CUSIP: 79589L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2024 | NS      | $80514.72     | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc           | Power Integrations Inc           | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |      1669 | NS      | $93297.10     | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp                   | ChampionX Corp                   | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |      3055 | NS      | $75886.20     | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-22

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

**Signature:** Stephen Van Meter

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

**Title:** Chief Compliance Officer