# EDGAR Filing Document

**Accession Number:** 0000925723
**File Stem:** 0001193125-26-020454
**Filing Date:** 2026-1
**Character Count:** 104960
**Document Hash:** 38f56d0cca42778fe2bf96e6da2caa19
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-020454.hdr.sgml**: 20260123

**ACCESSION NUMBER**: 0001193125-26-020454

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260123

**DATE AS OF CHANGE**: 20260123

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Institutional Trust
- **CENTRAL INDEX KEY:** 0000925723

**ORGANIZATION NAME:**
- **EIN:** 251737663
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07193
- **FILM NUMBER:** 26553675

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 8003417400

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED INSTITUTIONAL TRUST
- **DATE OF NAME CHANGE:** 19940621

## Series and Classes Contracts Data

### Federated Hermes Short-Intermediate Total Return Bond Fund (Series ID: S000009741)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000026764 | Service Shares       | FGCSX           |
| C000026765 | Institutional Shares | FGCIX           |
| C000136800 | Class A Shares       | FGCAX           |
| C000136801 | Class R6 Shares      | SRBRX           |

## Nport-Ex

Federated Hermes Short-Intermediate Total Return Bond Fund

Portfolio of Investments

November 30, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Amount** <br>**or Shares**<br>|  | **Value** |
|  | U.S. TREASURIES—54.6% |  |
|  | **U.S. Treasury Notes—54.6%** |  |
| $10000000 | United States Treasury Note, 3.125%, 8/31/2027 | &nbsp;&nbsp; $9931200 |
| &nbsp;&nbsp; 9000000 | United States Treasury Note, 3.500%, 9/30/2027 | &nbsp;&nbsp; 8997403 |
| &nbsp;&nbsp; 26000000 | United States Treasury Note, 3.500%, 1/31/2028 | &nbsp;&nbsp; 26000042 |
| &nbsp;&nbsp; 10000000 | United States Treasury Note, 3.625%, 8/15/2028 | &nbsp;&nbsp; 10034375 |
| &nbsp;&nbsp; 7000000 | United States Treasury Note, 3.625%, 8/31/2030 | &nbsp;&nbsp; 7008964 |
| &nbsp;&nbsp; 15000000 | United States Treasury Note, 3.625%, 9/30/2030 | &nbsp;&nbsp; 15017917 |
| &nbsp;&nbsp; 10000000 | United States Treasury Note, 3.750%, 6/30/2027 | &nbsp;&nbsp; 10031651 |
| &nbsp;&nbsp; 24500000 | United States Treasury Note, 3.750%, 4/15/2028 | &nbsp;&nbsp; 24642639 |
| &nbsp;&nbsp; 30000000<br><sup>1</sup> <br>| United States Treasury Note, 3.750%, 12/31/2028 | &nbsp;&nbsp; 30217113 |
| &nbsp;&nbsp; 14000000 | United States Treasury Note, 3.875%, 3/31/2027 | &nbsp;&nbsp; 14052594 |
| &nbsp;&nbsp; 7500000 | United States Treasury Note, 3.875%, 5/31/2027 | &nbsp;&nbsp; 7535029 |
| &nbsp;&nbsp; 6000000 | United States Treasury Note, 3.875%, 6/15/2028 | &nbsp;&nbsp; 6056250 |
| &nbsp;&nbsp; 10000000 | United States Treasury Note, 4.000%, 6/30/2028 | &nbsp;&nbsp; 10126059 |
| &nbsp;&nbsp; 5000000 | United States Treasury Note, 4.000%, 7/31/2029 | &nbsp;&nbsp; 5077735 |
| &nbsp;&nbsp; 32500000 | United States Treasury Note, 4.000%, 2/28/2030 | &nbsp;&nbsp; 33047147 |
| &nbsp;&nbsp; 53500000 | United States Treasury Note, 4.000%, 3/31/2030 | &nbsp;&nbsp; 54407831 |
| &nbsp;&nbsp; 32000000 | United States Treasury Note, 4.125%, 9/30/2027 | &nbsp;&nbsp; 32341661 |
| &nbsp;&nbsp; 6500000 | United States Treasury Note, 4.125%, 10/31/2029 | &nbsp;&nbsp; 6634735 |
| &nbsp;&nbsp; 7500000 | United States Treasury Note, 4.250%, 1/31/2030 | &nbsp;&nbsp; 7697023 |
| &nbsp;&nbsp; 20000000 | United States Treasury Note, 4.375%, 8/31/2028 | &nbsp;&nbsp; 20455684 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL U.S. TREASURIES <br>(IDENTIFIED COST $335,653,664)<br>| &nbsp;&nbsp; 339313052 |
|  | CORPORATE BONDS—26.0% |  |
|  | **Basic Industry - Metals & Mining—0.3%** |  |
| &nbsp;&nbsp; 2000000 | Steel Dynamics, Inc., Sr. Unsecd. Note, 4.000%, 12/15/2028 | &nbsp;&nbsp; 1995002 |
|  | **Capital Goods - Aerospace & Defense—1.2%** |  |
| &nbsp;&nbsp; 2000000 | Boeing Co., Sr. Unsecd. Note, 2.196%, 2/4/2026 | &nbsp;&nbsp; 1992012 |
| &nbsp;&nbsp; 1500000 | Boeing Co., Sr. Unsecd. Note, 6.298%, 5/1/2029 | &nbsp;&nbsp; 1595694 |
| &nbsp;&nbsp; 935000 | General Electric Co., Sr. Unsecd. Note, 4.300%, 7/29/2030 | &nbsp;&nbsp; 945829 |
| &nbsp;&nbsp; 2750000 | HEICO Corp., Sr. Unsecd. Note, 5.250%, 8/1/2028 | &nbsp;&nbsp; 2835131 |
| &nbsp;&nbsp; 40000<br><sup>2</sup> <br>| Textron Financial Corp., Jr. Sub. Note, 144A, 5.848% (CME Term SOFR 3 Month +1.996%), 2/15/2042 | &nbsp;&nbsp; 36095 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 7404761 |
|  | **Capital Goods - Construction Machinery—0.9%** |  |
| &nbsp;&nbsp; 5385000 | Weir Group PLC/The, Sr. Unsecd. Note, 144A, 2.200%, 5/13/2026 | &nbsp;&nbsp; 5325256 |
|  | **Capital Goods - Diversified Manufacturing—0.4%** |  |
| &nbsp;&nbsp; 2500000 | Ingersoll-Rand, Inc., Sr. Unsecd. Note, 5.176%, 6/15/2029 | &nbsp;&nbsp; 2592588 |
|  | **Capital Goods - Environmental—0.2%** |  |
| &nbsp;&nbsp; 1075000 | Republic Services, Inc., Sr. Unsecd. Note, 4.750%, 7/15/2030 | &nbsp;&nbsp; 1104501 |
|  | **Communications - Cable & Satellite—0.1%** |  |
| &nbsp;&nbsp; 590000<br><sup>3</sup> <br>| Comcast Corp., Sr. Unsecd. Note, 5.350%, 11/15/2027 | &nbsp;&nbsp; 606081 |
|  | **Communications - Media & Entertainment—0.9%** |  |
| &nbsp;&nbsp; 1485000 | AppLovin Corp., Sr. Unsecd. Note, 5.125%, 12/1/2029 | &nbsp;&nbsp; 1519440 |
| &nbsp;&nbsp; 1435000 | Meta Platforms, Inc., Sr. Unsecd. Note, 4.200%, 11/15/2030 | &nbsp;&nbsp; 1445291 |
| &nbsp;&nbsp; 2500000 | Netflix, Inc., Sr. Unsecd. Note, 4.375%, 11/15/2026 | &nbsp;&nbsp; 2512550 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 5477281 |

---

**1**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Communications - Telecom Wireless—0.4%** |  |
| $2500000 | T-Mobile USA, Inc., 2.550%, 2/15/2031 | &nbsp;&nbsp; $2290970 |
|  | **Communications - Telecom Wirelines—0.9%** |  |
| &nbsp;&nbsp; 690000 | NBN Co. Ltd., Sr. Unsecd. Note, 144A, 4.000%, 10/1/2027 | &nbsp;&nbsp; 688639 |
| &nbsp;&nbsp; 5100000 | Rogers Communications, Inc., Sr. Unsecd. Note, 3.200%, 3/15/2027 | &nbsp;&nbsp; 5033404 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 5722043 |
|  | **Consumer Cyclical - Automotive—1.4%** |  |
| &nbsp;&nbsp; 2510000 | Daimler Trucks Financial NA, Sr. Unsecd. Note, 144A, 2.000%, 12/14/2026 | &nbsp;&nbsp; 2459996 |
| &nbsp;&nbsp; 3000000 | Ford Motor Credit Co. LLC, Sr. Unsecd. Note, 6.950%, 3/6/2026 | &nbsp;&nbsp; 3013450 |
| &nbsp;&nbsp; 845000 | Hyundai Capital America, Sr. Unsecd. Note, 144A, 4.500%, 9/18/2030 | &nbsp;&nbsp; 846544 |
| &nbsp;&nbsp; 2500000 | Mercedes-Benz Finance NA LLC, Sr. Unsecd. Note, 144A, 4.800%, 8/1/2029 | &nbsp;&nbsp; 2556528 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 8876518 |
|  | **Consumer Cyclical - Services—0.4%** |  |
| &nbsp;&nbsp; 1730000 | Sodexo, Inc., Sr. Unsecd. Note, 144A, 5.150%, 8/15/2030 | &nbsp;&nbsp; 1778988 |
| &nbsp;&nbsp; 545000 | Uber Technologies, Inc., Sr. Secd. Note, 4.150%, 1/15/2031 | &nbsp;&nbsp; 542956 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 2321944 |
|  | **Consumer Non-Cyclical - Food/Beverage—0.7%** |  |
| &nbsp;&nbsp; 2100000 | Bacardi Ltd., Sr. Unsecd. Note, 144A, 5.250%, 1/15/2029 | &nbsp;&nbsp; 2144071 |
| &nbsp;&nbsp; 1885000 | Mars, Inc., Sr. Unsecd. Note, 144A, 4.800%, 3/1/2030 | &nbsp;&nbsp; 1931691 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 4075762 |
|  | **Consumer Non-Cyclical - Health Care—1.1%** |  |
| &nbsp;&nbsp; 2750000 | Becton Dickinson & Co., Sr. Unsecd. Note, 4.874%, 2/8/2029 | &nbsp;&nbsp; 2806525 |
| &nbsp;&nbsp; 1040000 | CVS Health Corp., Sr. Unsecd. Note, 5.000%, 1/30/2029 | &nbsp;&nbsp; 1064248 |
| &nbsp;&nbsp; 2000000 | GE HealthCare Technologies, Inc., Unsecd. Note, 5.650%, 11/15/2027 | &nbsp;&nbsp; 2058360 |
| &nbsp;&nbsp; 615000 | HCA, Inc., Sr. Unsecd. Note, 4.300%, 11/15/2030 | &nbsp;&nbsp; 613401 |
| &nbsp;&nbsp; 524000 | Solventum Corp., Sr. Unsecd. Note, Series WI, 5.400%, 3/1/2029 | &nbsp;&nbsp; 542028 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 7084562 |
|  | **Consumer Non-Cyclical - Pharmaceuticals—0.9%** |  |
| &nbsp;&nbsp; 3250000 | Amgen, Inc., Sr. Unsecd. Note, 5.150%, 3/2/2028 | &nbsp;&nbsp; 3326987 |
| &nbsp;&nbsp; 2500000 | Pfizer Investment Enterprises Pte Ltd., Sr. Unsecd. Note, 4.450%, 5/19/2028 | &nbsp;&nbsp; 2530563 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 5857550 |
|  | **Consumer Non-Cyclical - Tobacco—0.5%** |  |
| &nbsp;&nbsp; 1250000 | BAT International Finance PLC, Sr. Unsecd. Note, 5.931%, 2/2/2029 | &nbsp;&nbsp; 1315082 |
| &nbsp;&nbsp; 2000000 | Philip Morris International, Inc., Sr. Unsecd. Note, 5.125%, 11/17/2027 | &nbsp;&nbsp; 2042544 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 3357626 |
|  | **Energy - Independent—0.2%** |  |
| &nbsp;&nbsp; 1000000 | Diamondback Energy, Inc., Sr. Unsecd. Note, 3.500%, 12/1/2029 | &nbsp;&nbsp; 970368 |
|  | **Energy - Integrated—0.5%** |  |
| &nbsp;&nbsp; 1000000 | BP Capital Markets America, Inc., Sr. Unsecd. Note, 4.699%, 4/10/2029 | &nbsp;&nbsp; 1020912 |
| &nbsp;&nbsp; 2000000 | Cenovus Energy, Inc., Sr. Unsecd. Note, 4.650%, 3/20/2031 | &nbsp;&nbsp; 2006510 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 3027422 |
|  | **Energy - Midstream—1.8%** |  |
| &nbsp;&nbsp; 2070000 | Columbia Pipeline Holding Co. LLC, Sr. Unsecd. Note, 144A, 6.042%, 8/15/2028 | &nbsp;&nbsp; 2155965 |
| &nbsp;&nbsp; 2000000 | Enbridge, Inc., Sr. Unsecd. Note, 4.200%, 11/20/2028 | &nbsp;&nbsp; 2005385 |
| &nbsp;&nbsp; 910000 | Energy Transfer LP, Sr. Unsecd. Note, 5.550%, 2/15/2028 | &nbsp;&nbsp; 936691 |
| &nbsp;&nbsp; 2000000 | Sunoco Logistics Partners LP, Sr. Unsecd. Note, 3.900%, 7/15/2026 | &nbsp;&nbsp; 1997302 |
| &nbsp;&nbsp; 1250000 | Targa Resources, Inc., Sr. Unsecd. Note, 6.150%, 3/1/2029 | &nbsp;&nbsp; 1319123 |
| &nbsp;&nbsp; 2490000 | Williams Cos., Inc., Sr. Unsecd. Note, 4.900%, 3/15/2029 | &nbsp;&nbsp; 2543557 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 10958023 |
|  | **Financial Institution - Banking—5.2%** |  |
| &nbsp;&nbsp; 910000 | American Express Co., Sr. Unsecd. Note, 5.850%, 11/5/2027 | &nbsp;&nbsp; 942529 |

---

**2**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Financial Institution - Banking—continued** |  |
| $2000000 | Bank of America Corp., Sr. Unsecd. Note, 5.080%, 1/20/2027 | &nbsp;&nbsp; $2001995 |
| &nbsp;&nbsp; 2000000 | Bank of America Corp., Sr. Unsecd. Note, Series MTN, 2.496%, 2/13/2031 | &nbsp;&nbsp; 1869470 |
| &nbsp;&nbsp; 2500000 | Citigroup, Inc., Sr. Unsecd. Note, 5.174%, 2/13/2030 | &nbsp;&nbsp; 2572307 |
| &nbsp;&nbsp; 1530000 | Comerica, Inc., Sr. Unsecd. Note, 5.982%, 1/30/2030 | &nbsp;&nbsp; 1595248 |
| &nbsp;&nbsp; 570000 | Fifth Third Bancorp, Sr. Unsecd. Note, 6.339%, 7/27/2029 | &nbsp;&nbsp; 600692 |
| &nbsp;&nbsp; 2000000 | Fifth Third Bancorp, Sr. Unsecd. Note, 6.361%, 10/27/2028 | &nbsp;&nbsp; 2082771 |
| &nbsp;&nbsp; 1575000 | Goldman Sachs Group, Inc., Sr. Unsecd. Note, 5.727%, 4/25/2030 | &nbsp;&nbsp; 1649871 |
| &nbsp;&nbsp; 1665000 | JPMorgan Chase & Co., Sr. Unsecd. Note, 4.255%, 10/22/2031 | &nbsp;&nbsp; 1667313 |
| &nbsp;&nbsp; 735000 | JPMorgan Chase & Co., Sr. Unsecd. Note, 5.140%, 1/24/2031 | &nbsp;&nbsp; 762690 |
| &nbsp;&nbsp; 1275000 | M&T Bank Corp., Sr. Unsecd. Note, 7.413%, 10/30/2029 | &nbsp;&nbsp; 1383289 |
| &nbsp;&nbsp; 3000000 | Manufacturers & Traders Trust Co., Sr. Unsecd. Note, 4.700%, 1/27/2028 | &nbsp;&nbsp; 3042785 |
| &nbsp;&nbsp; 1000000 | Morgan Stanley, 4.654%, 10/18/2030 | &nbsp;&nbsp; 1015013 |
| &nbsp;&nbsp; 640000 | Morgan Stanley, Sr. Unsecd. Note, 5.050%, 1/28/2027 | &nbsp;&nbsp; 640673 |
| &nbsp;&nbsp; 1500000 | Morgan Stanley, Sr. Unsecd. Note, 5.656%, 4/18/2030 | &nbsp;&nbsp; 1568169 |
| &nbsp;&nbsp; 1805000 | PNC Financial Services Group, Inc., Sr. Unsecd. Note, 5.582%, 6/12/2029 | &nbsp;&nbsp; 1871721 |
| &nbsp;&nbsp; 1195000 | Synovus Financial Corp., Sr. Unsecd. Note, 6.168%, 11/1/2030 | &nbsp;&nbsp; 1240651 |
| &nbsp;&nbsp; 1500000 | Truist Financial Corp., Sr. Unsecd. Note, Series MTN, 6.047%, 6/8/2027 | &nbsp;&nbsp; 1513716 |
| &nbsp;&nbsp; 2000000 | U.S. Bancorp, Sr. Unsecd. Note, 5.775%, 6/12/2029 | &nbsp;&nbsp; 2081624 |
| &nbsp;&nbsp; 2275000 | Wells Fargo & Co., Sr. Unsecd. Note, 5.198%, 1/23/2030 | &nbsp;&nbsp; 2347714 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 32450241 |
|  | **Financial Institution - Broker/Asset Mgr/Exchange—0.2%** |  |
| &nbsp;&nbsp; 1460000 | Jefferies Financial Group, Inc., Sr. Unsecd. Note, 5.875%, 7/21/2028 | &nbsp;&nbsp; 1514693 |
|  | **Financial Institution - Finance Companies—0.7%** |  |
| &nbsp;&nbsp; 1665000 | AerCap Ireland Capital Ltd. / AerCap Global Aviation Trust, Sr. Unsecd. Note, 2.450%, 10/29/2026 | &nbsp;&nbsp; 1640142 |
| &nbsp;&nbsp; 790000 | AerCap Ireland Capital Ltd. / AerCap Global Aviation Trust, Sr. Unsecd. Note, 4.375%, 11/15/2030 | &nbsp;&nbsp; 789194 |
| &nbsp;&nbsp; 765000 | Aircastle Ltd., Sr. Secd. Note, 144A, 5.000%, 9/15/2030 | &nbsp;&nbsp; 774349 |
| &nbsp;&nbsp; 1290000 | Ally Financial, Inc., Sr. Unsecd. Note, 6.992%, 6/13/2029 | &nbsp;&nbsp; 1359565 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 4563250 |
|  | **Financial Institution - Insurance - Health—0.2%** |  |
| &nbsp;&nbsp; 1400000 | Centene Corp., Sr. Unsecd. Note, 2.450%, 7/15/2028 | &nbsp;&nbsp; 1306299 |
|  | **Financial Institution - Insurance - Life—0.9%** |  |
| &nbsp;&nbsp; 3000000 | AIA Group Ltd., Sr. Unsecd. Note, 144A, 5.625%, 10/25/2027 | &nbsp;&nbsp; 3093014 |
| &nbsp;&nbsp; 2500000 | Metropolitan Life Global Funding I, Sr. Secd. Note, 144A, 4.850%, 1/8/2029 | &nbsp;&nbsp; 2555599 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 5648613 |
|  | **Financial Institution - Insurance - P&C—0.5%** |  |
| &nbsp;&nbsp; 3000000 | Aon North America, Inc., Sr. Unsecd. Note, 5.150%, 3/1/2029 | &nbsp;&nbsp; 3090583 |
|  | **Financial Institution - REIT - Apartment—0.4%** |  |
| &nbsp;&nbsp; 2250000 | Avalonbay Communities, Inc., Sr. Unsecd. Note, 4.350%, 12/1/2030 | &nbsp;&nbsp; 2261442 |
|  | **Technology—2.2%** |  |
| &nbsp;&nbsp; 1000000 | Alphabet, Inc., Sr. Unsecd. Note, 4.100%, 11/15/2030 | &nbsp;&nbsp; 1008846 |
| &nbsp;&nbsp; 2500000 | Broadcom, Inc., Sr. Unsecd. Note, 4.350%, 2/15/2030 | &nbsp;&nbsp; 2522223 |
| &nbsp;&nbsp; 2520000 | CDW LLC/ CDW Finance Corp., Sr. Unsecd. Note, 2.670%, 12/1/2026 | &nbsp;&nbsp; 2479275 |
| &nbsp;&nbsp; 2500000 | Cisco Systems, Inc., Sr. Unsecd. Note, 4.950%, 2/26/2031 | &nbsp;&nbsp; 2601446 |
| &nbsp;&nbsp; 1850000 | Global Payments, Inc., Sr. Unsecd. Note, 4.500%, 11/15/2028 | &nbsp;&nbsp; 1856617 |
| &nbsp;&nbsp; 1515000 | Hewlett Packard Enterprise Co., Sr. Unsecd. Note, 4.400%, 10/15/2030 | &nbsp;&nbsp; 1511709 |
| &nbsp;&nbsp; 1315000 | Microchip Technology, Inc., Sr. Unsecd. Note, 5.050%, 3/15/2029 | &nbsp;&nbsp; 1342991 |
| &nbsp;&nbsp; 535000 | Skyworks Solutions, Inc., Sr. Unsecd. Note, 1.800%, 6/1/2026 | &nbsp;&nbsp; 527659 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 13850766 |
|  | **Transportation - Services—0.5%** |  |
| &nbsp;&nbsp; 1000000 | GXO Logistics, Inc., Sr. Unsecd. Note, 6.250%, 5/6/2029 | &nbsp;&nbsp; 1050652 |

---

**3**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Transportation - Services—continued** |  |
| $1800000 | Penske Truck Leasing Co. LP & PTL Finance Corp., Sr. Unsecd. Note, 144A, 5.550%, 5/1/2028 | &nbsp;&nbsp; $1854254 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 2904906 |
|  | **Utility - Electric—2.2%** |  |
| &nbsp;&nbsp; 430000 | American Electric Power Co., Inc., Sr. Unsecd. Note, 5.750%, 11/1/2027 | &nbsp;&nbsp; 443231 |
| &nbsp;&nbsp; 1860000 | Black Hills Corp., Sr. Unsecd. Note, 4.550%, 1/31/2031 | &nbsp;&nbsp; 1862419 |
| &nbsp;&nbsp; 860000 | Duke Energy Corp., Sr. Unsecd. Note, 5.000%, 12/8/2027 | &nbsp;&nbsp; 874740 |
| &nbsp;&nbsp; 1005000 | Electricite de France S.A., Sr. Unsecd. Note, 144A, 5.700%, 5/23/2028 | &nbsp;&nbsp; 1039538 |
| &nbsp;&nbsp; 1135000 | EverSource Energy, Sr. Unsecd. Note, 4.450%, 12/15/2030 | &nbsp;&nbsp; 1132405 |
| &nbsp;&nbsp; 5000000 | Fells Point Funding Trust, Sr. Unsecd. Note, 3.046%, 1/31/2027 | &nbsp;&nbsp; 4933465 |
| &nbsp;&nbsp; 245000 | FirstEnergy Corp., Sr. Unsecd. Note, Series A, 1.600%, 1/15/2026 | &nbsp;&nbsp; 243992 |
| &nbsp;&nbsp; 2305000 | NiSource, Inc., Sr. Unsecd. Note, 5.250%, 3/30/2028 | &nbsp;&nbsp; 2365321 |
| &nbsp;&nbsp; 705000 | Southern Power Co., Sr. Unsecd. Note, Series A, 4.250%, 10/1/2030 | &nbsp;&nbsp; 704147 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 13599258 |
|  | **Utility - Other—0.2%** |  |
| &nbsp;&nbsp; 1135000 | National Grid-SP PLC, Sr. Unsecd. Note, 5.602%, 6/12/2028 | &nbsp;&nbsp; 1173310 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CORPORATE BONDS <br>(IDENTIFIED COST $158,916,113)<br>| &nbsp;&nbsp; 161411619 |
|  | ASSET-BACKED SECURITIES—7.9% |  |
|  | **Auto Receivables—5.8%** |  |
| &nbsp;&nbsp; 2976793 | Bank of America Auto Trust 2023-2, Class A3, 5.740%, 6/15/2028 | &nbsp;&nbsp; 3004930 |
| &nbsp;&nbsp; 2118750 | BMW Vehicle Lease Trust 2024-1, Class A3, 4.980%, 3/25/2027 | &nbsp;&nbsp; 2124395 |
| &nbsp;&nbsp; 3700000 | BMW Vehicle Owner Trust 2024-A, Class A3, 5.180%, 2/26/2029 | &nbsp;&nbsp; 3733524 |
| &nbsp;&nbsp; 2357274 | Enterprise Fleet Financing LLC 2023-3, Class A2, 6.400%, 3/20/2030 | &nbsp;&nbsp; 2388824 |
| &nbsp;&nbsp; 2650000 | Enterprise Fleet Financing LLC 2024-2, Class A3, 5.610%, 4/20/2028 | &nbsp;&nbsp; 2696857 |
| &nbsp;&nbsp; 2500000 | Enterprise Fleet Financing LLC 2025-4, Class A3, 4.110%, 12/20/2029 | &nbsp;&nbsp; 2515379 |
| &nbsp;&nbsp; 889352 | Honda Auto Receivables Owner Trust 2023-2, Class A3, 4.930%, 11/15/2027 | &nbsp;&nbsp; 893726 |
| &nbsp;&nbsp; 1727367 | Honda Auto Receivables Owner Trust 2023-4, Class A3, 5.670%, 6/21/2028 | &nbsp;&nbsp; 1749848 |
| &nbsp;&nbsp; 2750000 | Honda Auto Receivables Owner Trust 2025-1, Class A3, 4.570%, 9/21/2029 | &nbsp;&nbsp; 2779606 |
| &nbsp;&nbsp; 1600000 | Hyundai Auto Lease Securitization Trust 2024-C, Class A3, 4.620%, 4/17/2028 | &nbsp;&nbsp; 1608745 |
| &nbsp;&nbsp; 2500000 | Mercedes-Benz Auto Lease Trust 2024-A, Class A3, 5.320%, 1/18/2028 | &nbsp;&nbsp; 2524032 |
| &nbsp;&nbsp; 1350000 | Mercedes-Benz Auto Lease Trust 2024-B, Class A3, 4.230%, 2/15/2028 | &nbsp;&nbsp; 1352766 |
| &nbsp;&nbsp; 1750000 | Porsche Innovative Lease Owner Trust 2024-2A, Class A3, 4.350%, 10/20/2027 | &nbsp;&nbsp; 1753282 |
| &nbsp;&nbsp; 4500000 | Toyota Auto Receivables Owner Trust 2024-B, Class A3, 5.330%, 1/16/2029 | &nbsp;&nbsp; 4553610 |
| &nbsp;&nbsp; 1300000 | Volvo Financial Equipment LLC 2025-2A, Class A3, 3.990%, 12/17/2029 | &nbsp;&nbsp; 1303985 |
| &nbsp;&nbsp; 1000000 | World Omni Auto Receivables Trust 2025-D, Class A3, 3.950%, 3/17/2031 | &nbsp;&nbsp; 1002936 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 35986445 |
|  | **Equipment Lease—1.4%** |  |
| &nbsp;&nbsp; 2870104 | CNH Equipment Trust 2024-A, Class A3, 4.770%, 6/15/2029 | &nbsp;&nbsp; 2893835 |
| &nbsp;&nbsp; 1352398 | DLLST LLC 2024-1A, Class A3, 5.050%, 8/20/2027 | &nbsp;&nbsp; 1357299 |
| &nbsp;&nbsp; 384651 | MMAF Equipment Finance LLC 2020-A, Class A3, 0.970%, 4/9/2027 | &nbsp;&nbsp; 381188 |
| &nbsp;&nbsp; 2500000 | MMAF Equipment Finance LLC 2023-A, Class A3, 5.540%, 12/13/2029 | &nbsp;&nbsp; 2531518 |
| &nbsp;&nbsp; 1250000 | MMAF Equipment Finance LLC 2025-B, Class A3, 4.130%, 10/13/2032 | &nbsp;&nbsp; 1251729 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 8415569 |
|  | **Other—0.5%** |  |
| &nbsp;&nbsp; 3400000 | Verizon Master Trust 2025-7, Class A1A, 3.960%, 8/20/2031 | &nbsp;&nbsp; 3414629 |
|  | **Student Loans—0.2%** |  |
| &nbsp;&nbsp; 533411 | Navient Student Loan Trust 2020-GA, Class A, 1.170%, 9/16/2069 | &nbsp;&nbsp; 499816 |
| &nbsp;&nbsp; 538649 | Navient Student Loan Trust 2020-HA, Class A, 1.310%, 1/15/2069 | &nbsp;&nbsp; 509839 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 1009655 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL ASSET-BACKED SECURITIES <br>(IDENTIFIED COST $48,493,366)<br>| &nbsp;&nbsp;&nbsp; 48826298 |

---

**4**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | COMMERCIAL MORTGAGE-BACKED SECURITIES—0.4% |  |
|  | **Commercial Mortgage—0.4%** |  |
| $874594 | Benchmark Mortgage Trust 2019-B12, Class A2, 3.000%, 8/15/2052 | &nbsp;&nbsp; $838345 |
| &nbsp;&nbsp; 1499088 | Benchmark Mortgage Trust 2021-B26, Class A2, 1.957%, 6/15/2054 | &nbsp;&nbsp; 1472152 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES <br>(IDENTIFIED COST $2,444,874)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2310497 |
|  | MORTGAGE-BACKED SECURITIES—0.1% |  |
|  | **Federal National Mortgage Association—0.1%** |  |
| &nbsp;&nbsp; 494945 | Federal National Mortgage Association, Pool AS2976, 4.000%, 8/1/2044 | &nbsp;&nbsp; 484363 |
| &nbsp;&nbsp; 272858 | Federal National Mortgage Association, Pool AW0029, 3.500%, 7/1/2044 | &nbsp;&nbsp; 258010 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL MORTGAGE-BACKED SECURITIES <br>(IDENTIFIED COST $801,378)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742373 |
|  | COLLATERALIZED MORTGAGE OBLIGATION—0.0% |  |
|  | **Federal Home Loan Mortgage Corporation—0.0%** |  |
| &nbsp;&nbsp; 8827<br><sup>2</sup> <br>| Federal Home Loan Mortgage Corp. REMIC, Series 3397, Class FC, 4.856% (30-DAY AVERAGE SOFR +0.714%), 12/15/2037 <br>(IDENTIFIED COST $8,844)<br>| &nbsp;&nbsp; 8779 |
|  | INVESTMENT COMPANIES—10.7% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195513 | Bank Loan Core Fund | &nbsp;&nbsp; 1673594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284260 | Emerging Markets Core Fund | &nbsp;&nbsp; 2581083 |
| &nbsp;&nbsp;&nbsp; 6171528 | Federated Hermes Government Obligations Fund, Premier Shares, 3.89%<sup>4</sup> <br>| &nbsp;&nbsp; 6171528 |
| &nbsp;&nbsp;&nbsp; 1037324 | Mortgage Core Fund | &nbsp;&nbsp; 8827622 |
| &nbsp;&nbsp;&nbsp; 5310428 | Project and Trade Finance Core Fund | &nbsp;&nbsp; 47475227 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT COMPANIES <br>(IDENTIFIED COST $64,989,190)<br>| &nbsp;&nbsp;&nbsp; 66729054 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT IN SECURITIES—99.7% <br>(IDENTIFIED COST $611,307,429)<br>| &nbsp;&nbsp; 619341672 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OTHER ASSETS AND LIABILITIES - NET—0.3%<sup>5</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1890553 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NET ASSETS—100% | &nbsp;&nbsp; $621232225 |

---

At November 30, 2025, the Fund had the following outstanding futures contracts:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Number of** <br>**Contracts**<br>| &nbsp;&nbsp; **Notional** <br>**Value**<br>| &nbsp;&nbsp;&nbsp; **Expiration** <br>**Date**<br>| &nbsp;&nbsp; **Value and** <br>**Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| **Long Futures:** |  |  |  |  |
| United States Treasury Notes 2-Year Long Futures | &nbsp;&nbsp; 172 | &nbsp;&nbsp;&nbsp; $35923813 | March 2026 | &nbsp;&nbsp;&nbsp; $(9633) |
| United States Treasury Notes 5-Year Long Futures | &nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp; $8232422 | March 2026 | &nbsp;&nbsp;&nbsp; $9168 |
| &nbsp;&nbsp;&nbsp;&nbsp; NET UNREALIZED DEPRECIATION ON FUTURES CONTRACTS | &nbsp;&nbsp;&nbsp;&nbsp; NET UNREALIZED DEPRECIATION ON FUTURES CONTRACTS | &nbsp;&nbsp;&nbsp;&nbsp; NET UNREALIZED DEPRECIATION ON FUTURES CONTRACTS | &nbsp;&nbsp;&nbsp;&nbsp; NET UNREALIZED DEPRECIATION ON FUTURES CONTRACTS | &nbsp;&nbsp;&nbsp; $(465) |

---

Net Unrealized Depreciation on Futures Contracts is included in "Other Assets and Liabilities—Net."

Transactions with affiliated investment companies, which are funds managed by the Adviser or an affiliate of the Adviser, during the period ended November 30, 2025, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliates** | **Value as of** <br>**8/31/2025**<br>| **Purchases** <br>**at Cost**<br>| **Proceeds** <br>**from Sales**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**Depreciation**<br>| **Net** <br>**Realized** <br>**Gain/** <br>**(Loss)**<br>| **Value as of** <br>**11/30/2025**<br>| **Shares** <br>**Held as of** <br>**11/30/2025**<br>| **Dividend** <br>**Income**<br>|
| Bank Loan Core Fund | $1649714 | $29663 | $— | $(5783) | $— | $1673594 | &nbsp;&nbsp;&nbsp;&nbsp; 195513 | $29607 |
| Emerging Markets Core Fund | $2477208 | $73227 | $— | $30648 | $— | $2581083 | &nbsp;&nbsp;&nbsp;&nbsp; 284260 | $73279 |
| Federated Hermes Government Obligations <br> Fund, Premier Shares\*<br>| $7589113 | $111399328 | $(112816913) | $— | $— | $6171528 | &nbsp;&nbsp; 6171528 | $114835 |
| Mortgage Core Fund | $8576255 | $107485 | $— | $143882 | $— | $8827622 | &nbsp;&nbsp; 1037324 | $107560 |
| Project and Trade Finance Core Fund | $46595877 | $774875 | $— | $104475 | $— | $47475227 | &nbsp;&nbsp; 5310428 | $775435 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL OF AFFILIATED TRANSACTIONS | $66888167 | $112384578 | $(112816913) | $273222 | $— | $66729054 | 12999053 | $1100716 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* *All or a portion of the balance/activity for the fund relates to cash collateral received on securities lending transactions.*

**5**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| 1 | *All or a portion of this security is pledged as collateral to ensure the Fund is able to satisfy the obligations of its outstanding futures contracts.* |
| 2 | *Floating/variable note with current rate and current maturity or next reset date shown.* |
| 3 | *All or a portion of these securities are temporarily on loan to unaffiliated broker/dealers. As of November 30, 2025, securities subject to this type of arrangement* <br> *and related collateral were as follows:*<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Fair Value of** <br>**Securities Loaned**<br>| **Collateral** <br>**Received**<br>|
| $65823 | &nbsp;&nbsp; $67200 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

4 *7-day net yield.* <br> 5 *Assets, other than investments in securities, less liabilities.*

Note: The categories of investments are shown as a percentage of net assets at November 30, 2025.

**Investment Valuation** 

In calculating its net asset value (NAV), the Fund generally values investments as follows:

■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by Federated Investment Management Company (the "Adviser").

■ Equity securities listed on an exchange or traded through a regulated market system are valued at their last reported sale price or official closing price in their principal exchange or market.

■ Shares of other mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs, or NAV per share practical expedient, as applicable.

■ Derivative contracts listed on exchanges are valued at their reported settlement or closing price, except that options are valued at the mean of closing bid and ask quotations.

■ Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Adviser.

■ For securities that are fair valued in accordance with procedures established by and under the general supervision of the Adviser, certain factors may be considered, such as: the last traded or purchase price of the security, information obtained by contacting the issuer or dealers, analysis of the issuer's financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded, public trading in similar securities or derivative contracts of the issuer or comparable issuers, movement of a relevant index, or other factors including but not limited to industry changes and relevant government actions.

If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, if the Fund cannot obtain price evaluations from a pricing service or from more than one dealer for an investment within a reasonable period of time as set forth in the Adviser's valuation policies and procedures for the Fund, or if information furnished by a pricing service, in the opinion of the Adviser's valuation committee ("Valuation Committee"), is deemed not representative of the fair value of such security, the Fund uses the fair value of the investment determined in accordance with the procedures described below. There can be no assurance that the Fund could obtain the fair value assigned to an investment if it sold the investment at approximately the time at which the Fund determines its NAV per share, and the actual value obtained could be materially different.

**Fair Valuation and Significant Events Procedures** 

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, the Fund's Board of Trustees (the "Trustees") has designated the Adviser as the Fund's valuation designee to perform any fair value determinations for securities and other assets held by the Fund. The Adviser is subject to the Trustees' oversight and certain reporting and other requirements intended to provide the Trustees the information needed to oversee the Adviser's fair value determinations.

The Adviser, acting through its Valuation Committee, is responsible for determining the fair value of investments for which market quotations are not readily available. The Valuation Committee is comprised of officers of the Adviser and certain of the Adviser's affiliated companies and determines fair value and oversees the calculation of the NAV. The Valuation Committee is also authorized to use pricing services to provide fair value evaluations of the current value of certain investments for purposes of calculating the NAV. The Valuation Committee employs various methods for reviewing third-party pricing-service evaluations including periodic reviews of third-party pricing services' policies, procedures and valuation methods (including key inputs, methods, models and assumptions), transactional back-testing, comparisons of evaluations of different pricing services, and review of price challenges by the Adviser based on recent market activity. In the event that market quotations and price evaluations are not available for an investment, the Valuation Committee determines the fair value of the investment in accordance with procedures adopted by the Adviser. The Trustees periodically review the fair valuations made by the Valuation Committee. The Trustees have also approved the Adviser's fair valuation and significant events procedures as part of the Fund's compliance program and will review any changes made to the procedures.

Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a "bid" evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between the prices bid and ask for the investment (a "mid" evaluation). The Fund normally uses bid evaluations for any U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for any other types of fixed-income securities and any OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Adviser.

**6**

------

The Adviser has also adopted procedures requiring an investment to be priced at its fair value whenever the Valuation Committee determines that a significant event affecting the value of the investment has occurred between the time as of which the price of the investment would otherwise be determined and the time as of which the NAV is computed. An event is considered significant if there is both an affirmative expectation that the investment's value will change in response to the event and a reasonable basis for quantifying the resulting change in value. Examples of significant events that may occur after the close of the principal market on which a security is traded, or after the time of a price evaluation provided by a pricing service or a dealer, include:

■ With respect to securities traded principally in foreign markets, significant trends in U.S. equity markets or in the trading of foreign securities index futures contracts;

■ Political or other developments affecting the economy or markets in which an issuer conducts its operations or its securities are traded;

■ Announcements concerning matters such as acquisitions, recapitalizations, litigation developments, or a natural disaster affecting the issuer's operations or regulatory changes or market developments affecting the issuer's industry.

The Adviser has adopted procedures whereby the Valuation Committee uses a pricing service to provide factors to update the fair value of equity securities traded principally in foreign markets from the time of the close of their respective foreign stock exchanges to the pricing time of the Fund. For other significant events, the Fund may seek to obtain more current quotations or price evaluations from alternative pricing sources. If a reliable alternative pricing source is not available, the Valuation Committee will determine the fair value of the investment in accordance with the fair valuation procedures approved by the Adviser. The Trustees periodically review fair valuations made in response to significant events.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below:

Level 1—quoted prices in active markets for identical securities.

Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.

Level 3—significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>The following is a summary of the inputs used, as of November 30, 2025, in valuing the Fund's assets carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** |
|  | **Level 1—** <br>**Quoted** <br>**Prices**<br>| **Level 2—** <br>**Other** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3—** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **Debt Securities:** |  |  |  |  |
| U.S. Treasuries | &nbsp;&nbsp; $— | &nbsp;&nbsp; $339313052 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $339313052 |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 161411619 | &nbsp;&nbsp; — | &nbsp;&nbsp; 161411619 |
| Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 48826298 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 48826298 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2310497 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2310497 |
| Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742373 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742373 |
| Collateralized Mortgage Obligation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8779 | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8779 |
| **Investment Companies** | &nbsp;&nbsp; 19253827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19253827 |
| Other Investments<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 47475227 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SECURITIES | &nbsp;&nbsp; $19253827 | &nbsp;&nbsp; $552612618 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $619341672 |
| **Other Financial Instruments:**<sup>2</sup> <br>|  |  |  |  |
| Assets | &nbsp;&nbsp; $9168 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $9168 |
| Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9633) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9633) |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL OTHER FINANCIAL INSTRUMENTS | &nbsp;&nbsp; $(465) | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(465) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| 1 | *As permitted by U.S. generally accepted accounting principles (GAAP), an Investment Company valued at $47,475,227 is measured at fair value using the net* <br> *asset value (NAV) per share practical expedient and has not been categorized in the fair value hierarchy chart above. The price of shares redeemed of Project and* <br> *Trade Finance Core Fund (PTCORE), a portfolio of Federated Hermes Core Trust III, may be determined as of the closing NAV of the fund up to twenty-four days* <br> *after receipt of a shareholder redemption request. The investment objective of PTCORE is to provide total return. Copies of the PTCORE financial statements are* <br> *available on the EDGAR database on the SEC's website or upon request from the Fund.*<br>|
| 2 | *Other financial instruments are futures contracts.* |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| The following acronym(s) are used throughout this portfolio: | The following acronym(s) are used throughout this portfolio: |
| MTN | —Medium Term Note |
| REIT | —Real Estate Investment Trust |
| REMIC | —Real Estate Mortgage Investment Conduit |
| SOFR | —Secured Overnight Financing Rate |

---

**7**

------

## 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 Institutional Trust

- **b. Investment Company Act file number:** 811-07193

- **c. CIK number of Registrant:** 0000925723

- **d. LEI of Registrant:** 2549002CIMJQ7MNS8F06

- **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 Short-Intermediate Total Return Bond Fund

- **b. EDGAR series identifier (if any):** S000009741

- **c. LEI of Series:** 5493003U7PVY1QBIS776

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

- **a. Date of fiscal year-end:** 2026-08-31

- **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:** $624519258.49

**Total Liabilities:** $4505799.12

**Net Assets:** $620013459.37

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -1162.563548000000 | **1-Year:** -19647.088140000000 | **5-Year:** -25035.312095000000 | **10-Year:** -284.899952000000 | **30-Year:** 0.000000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -0.047206000000 | **1-Year:** -0.880181000000 | **5-Year:** -3.744784000000 | **10-Year:** -24.960581000000 | **30-Year:** -8.022162000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000026764 | 0.31%                | 0.32%                | 0.51%                |
| Class ID C000026765 | 0.33%                | 0.34%                | 0.62%                |
| Class ID C000136800 | 0.21%                | 0.42%                | 0.51%                |
| Class ID C000136801 | 0.33%                | 0.34%                | 0.53%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-261549.45              | $40139.82                                  |
| Month 2  | $11415.76                | $69847.63                                  |
| Month 3  | $12957.34                | $1316240.91                                |

**Designated Index Information**

- **Index Name:** Barclays 1 to 5 Yr gov credit

- **Index Identifier:** LD04TRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BAT INTL FINANCE PLC                                                     | BAT International Finance PLC                             | CUSIP: 05530QAQ3<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |   1250000 | PA      | $1315081.94   | 0.21%             | 2029-02-02      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae Pool                                           | CUSIP: 3138XPA78<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    272858 | PA      | $258009.82    | 0.04%             | 2044-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MANUF & TRADERS TRUST CO                                                 | Manufacturers & Traders Trust Co                          | CUSIP: 55279HAW0<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3042784.83   | 0.49%             | 2028-01-27      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Auto Lease Trust                                           | Mercedes-Benz Auto Lease Trust 2024-A                     | CUSIP: 58770JAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2524032.13   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                                               | MMAF Equipment Finance LLC 2020-A                         | CUSIP: 60700MAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    384651 | PA      | $381188.36    | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                                   | PNC Financial Services Group Inc/The                      | CUSIP: 693475BR5<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1805000 | PA      | $1871721.18   | 0.30%             | 2029-06-12      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CLC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $5077734.50   | 0.82%             | 2029-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Volvo Financial Equipment LLC                                            | Volvo Financial Equipment LLC Series 2025-2               | CUSIP: 92886CAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1300000 | PA      | $1303984.89   | 0.21%             |  |  |  | Yes           |                  2 | On Loan: No      |
| COMERICA INC                                                             | Comerica Inc                                              | CUSIP: 200340AW7<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | DBT              | CORP              | US        |   1530000 | PA      | $1595248.33   | 0.26%             | 2030-01-30      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                           | Enterprise Fleet Financing 2024-2 LLC                     | CUSIP: 29375RAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2650000 | PA      | $2696857.30   | 0.43%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AIA GROUP LTD                                                            | AIA Group Ltd                                             | CUSIP: 00131LAN5<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | DBT              | CORP              | HK        |   3000000 | PA      | $3093013.32   | 0.50%             | 2027-10-25      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| AIRCASTLE / IRELAND DAC                                                  | Aircastle Ltd / Aircastle Ireland DAC                     | CUSIP: 00929JAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    765000 | PA      | $774349.39    | 0.12%             | 2030-09-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                                                  | American Electric Power Co Inc                            | CUSIP: 025537AV3<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    430000 | PA      | $443230.76    | 0.07%             | 2027-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                                      | American Express Co                                       | CUSIP: 025816DB2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    910000 | PA      | $942528.53    | 0.15%             | 2027-11-05      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                                | Amgen Inc                                                 | CUSIP: 031162DP2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3326986.94   | 0.54%             | 2028-03-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                                            | AppLovin Corp                                             | CUSIP: 03831WAB4<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |   1485000 | PA      | $1519440.40   | 0.25%             | 2029-12-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Lease Trust                                                  | BMW Vehicle Lease Trust 2024-1                            | CUSIP: 05611UAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2118750 | PA      | $2124394.72   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                     | Bank of America Corp                                      | CUSIP: 06051GHZ5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1869469.88   | 0.30%             | 2031-02-13      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Bank of America Auto Trust                                               | Bank of America Auto Trust 2023-2                         | CUSIP: 06054YAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2976792 | PA      | $3004930.32   | 0.48%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BOEING CO                                                                | Boeing Co/The                                             | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1992011.78   | 0.32%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                                   | BP Capital Markets America Inc                            | CUSIP: 10373QBX7<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1020912.29   | 0.16%             | 2029-04-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CENOVUS ENERGY INC                                                       | Cenovus Energy Inc                                        | CUSIP: 15135UBA6<br>LEI: 549300F4XPHJ7NOSP309 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2006509.34   | 0.32%             | 2031-03-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| DLLST LLC                                                                | DLLST 2024-1 LLC                                          | CUSIP: 23346HAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1352398 | PA      | $1357298.64   | 0.22%             |  |  |  | Yes           |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                                         | Duke Energy Corp                                          | CUSIP: 26441CBW4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    860000 | PA      | $874740.43    | 0.14%             | 2027-12-08      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                           | Enterprise Fleet Financing 2025-4 LLC                     | CUSIP: 29373NAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2515379.25   | 0.41%             |  |  |  | Yes           |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                                        | Eversource Energy                                         | CUSIP: 30040WBB3<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $1132404.69   | 0.18%             | 2030-12-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Federated Core Trust III - Federated Project and Trade Finance Core Fund | FEDERATED CORE TR III FEDERATED PROJ+TRADE FIN CORE       | CUSIP: 31415N103<br>LEI: 549300K79QCJYF3J1472 | Long             | EC               | RF                | US        |   5282812 | NS      | $47228338.92  | 7.62%             |  |  |  | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                                 | Ford Motor Credit Co LLC                                  | CUSIP: 345397C43<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3013449.96   | 0.49%             | 2026-03-06      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| HEICO CORP                                                               | HEICO Corp                                                | CUSIP: 422806AA7<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2835131.61   | 0.46%             | 2028-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                                         | Hewlett Packard Enterprise Co                             | CUSIP: 42824CCA5<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |   1515000 | PA      | $1511709.15   | 0.24%             | 2030-10-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                                  | Hyundai Capital America                                   | CUSIP: 44891AEA1<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    845000 | PA      | $846544.32    | 0.14%             | 2030-09-18      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| INGERSOLL RAND INC                                                       | Ingersoll Rand Inc                                        | CUSIP: 45687VAD8<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2592588.40   | 0.42%             | 2029-06-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                                                  | Jefferies Financial Group Inc                             | CUSIP: 47233WBM0<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |   1460000 | PA      | $1514692.67   | 0.24%             | 2028-07-21      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                                               | MMAF Equipment Finance LLC 2023-A                         | CUSIP: 55317WAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2531518.50   | 0.41%             |  |  |  | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY                                                           | Morgan Stanley                                            | CUSIP: 61747YEZ4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    640000 | PA      | $640673.08    | 0.10%             | 2027-01-28      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                               | Navient Private Education Refi Loan Trust 2020-G          | CUSIP: 63941UAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    533411 | PA      | $499815.96    | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                                                  | Pfizer Investment Enterprises Pte Ltd                     | CUSIP: 716973AC6<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |   2500000 | PA      | $2530562.95   | 0.41%             | 2028-05-19      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| SODEXO INC                                                               | Sodexo Inc                                                | CUSIP: 833794AC4<br>LEI: 549300WSZGQGJQXRFU84 | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1778988.62   | 0.29%             | 2030-08-15      | Fixed         | 5.15%                 | Yes           |                  2 | On Loan: No      |
| SOLVENTUM CORP                                                           | Solventum Corp                                            | CUSIP: 83444MAP6<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |    524000 | PA      | $542027.72    | 0.09%             | 2029-03-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| SOUTHERN POWER CO                                                        | Southern Power Co                                         | CUSIP: 843646AX8<br>LEI: 5LADC78JBG2BMZD5XF57 | Long             | DBT              | CORP              | US        |    705000 | PA      | $704147.31    | 0.11%             | 2030-10-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| TEXTRON FINANCIAL CORP                                                   | Textron Financial Corp                                    | CUSIP: 883199AR2<br>LEI: 4E8B2CNXPE5P5AY03O18 | Long             | DBT              | CORP              | US        |     40000 | PA      | $36094.72     | 0.01%             | 2042-02-15      | Variable      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner Trust                                      | Toyota Auto Receivables 2024-B Owner Trust                | CUSIP: 89237NAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4553610.08   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                                                    | Uber Technologies Inc                                     | CUSIP: 90353TAT7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    545000 | PA      | $542955.76    | 0.09%             | 2031-01-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                                               | US Bancorp                                                | CUSIP: 91159HJM3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2081624.04   | 0.34%             | 2029-06-12      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CGH8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  26000000 | PA      | $26000041.60  | 4.19%             | 2028-01-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CPA3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15000000 | PA      | $15017917.50  | 2.42%             | 2030-09-30      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CPB1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9000000 | PA      | $8997403.50   | 1.45%             | 2027-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WEIR GROUP PLC (THE)                                                     | Weir Group PLC/The                                        | CUSIP: 94876QAA4<br>LEI: 549300KDR56WHY9I3D10 | Long             | DBT              | CORP              | GB        |   5385000 | PA      | $5325256.44   | 0.86%             | 2026-05-13      | Fixed         | 2.20%                 | Yes           |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                    | Wells Fargo & Co                                          | CUSIP: 95000U3J0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2275000 | PA      | $2347713.57   | 0.38%             | 2030-01-23      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                   | US 2YR NOTE (CBT) MAR26                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       172 | NC      | $-9633.38     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                                                             | Alphabet Inc                                              | CUSIP: 02079KAW7<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1008846.60   | 0.16%             | 2030-11-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| AON NORTH AMERICA INC                                                    | Aon North America Inc                                     | CUSIP: 03740MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3090582.45   | 0.50%             | 2029-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BACARDI LTD / MARTINI BV                                                 | Bacardi Ltd / Bacardi-Martini BV                          | CUSIP: 05635JAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   2100000 | PA      | $2144071.57   | 0.35%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                                               | Barings Equipment Finance LLC 2025-B                      | CUSIP: 06764YAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1250000 | PA      | $1251728.56   | 0.20%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                                    | Becton Dickinson & Co                                     | CUSIP: 075887CR8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2806524.77   | 0.45%             | 2029-02-08      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                             | Broadcom Inc                                              | CUSIP: 11135FCB5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2522222.73   | 0.41%             | 2030-02-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                                                      | CDW LLC / CDW Finance Corp                                | CUSIP: 12513GBG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2520000 | PA      | $2479275.36   | 0.40%             | 2026-12-01      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                                             | Centene Corp                                              | CUSIP: 15135BAY7<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1306299.40   | 0.21%             | 2028-07-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                            | Citigroup Inc                                             | CUSIP: 172967PF2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2572307.00   | 0.41%             | 2030-02-13      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| CNH Equipment Trust                                                      | CNH Equipment Trust 2024-A                                | CUSIP: 18978FAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2870104 | PA      | $2893834.77   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| COLUMBIA PIPELINE HOLDCO                                                 | Columbia Pipelines Holding Co LLC                         | CUSIP: 19828AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2070000 | PA      | $2155965.20   | 0.35%             | 2028-08-15      | Fixed         | 6.04%                 | Yes           |                  2 | On Loan: No      |
| ENBRIDGE INC                                                             | Enbridge Inc                                              | CUSIP: 29250NCM5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2005385.04   | 0.32%             | 2028-11-20      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                                       | Meta Platforms Inc                                        | CUSIP: 30303MAB8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   1435000 | PA      | $1445291.10   | 0.23%             | 2030-11-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                               | Fannie Mae Pool                                           | CUSIP: 3138WCJW4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    494945 | PA      | $484362.92    | 0.08%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federated Core Trust - Federated Mortgage Core Portfolio                 | FEDERATED CORE TR MTG CORE PORTFOLIO                      | CUSIP: 31409N200<br>LEI: 254900WC9GWJKY8X3D48 | Long             | EC               | RF                | US        |   1033257 | NS      | $8793014.75   | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| PRUDENTIAL QMA STRAT VAL-                                                | FEDERATED CORE TR MUTUAL FUND                             | CUSIP: 31409N887<br>LEI: 254900HYFNGKM5PJOV84 | Long             | EC               | RF                | US        |    281537 | NS      | $2556352.54   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                                      | Fifth Third Bancorp                                       | CUSIP: 316773DJ6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2082771.46   | 0.34%             | 2028-10-27      | Fixed         | 6.36%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                                      | Fifth Third Bancorp                                       | CUSIP: 316773DK3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    570000 | PA      | $600691.66    | 0.10%             | 2029-07-27      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                                                         | FirstEnergy Corp                                          | CUSIP: 337932AN7<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    245000 | PA      | $243991.64    | 0.04%             | 2026-01-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| GXO LOGISTICS INC                                                        | GXO Logistics Inc                                         | CUSIP: 36262GAF8<br>LEI: 5493007CNWMXN78JRN66 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1050652.45   | 0.17%             | 2029-05-06      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                      | JPMorgan Chase & Co                                       | CUSIP: 46647PEV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    735000 | PA      | $762690.17    | 0.12%             | 2031-01-24      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                                                     | M&T Bank Corp                                             | CUSIP: 55261FAS3<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1383289.46   | 0.22%             | 2029-10-30      | Fixed         | 7.41%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                           | Morgan Stanley                                            | CUSIP: 61747YFU4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1015012.57   | 0.16%             | 2030-10-18      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Porsche Innovative Lease Owner Trust                                     | Porsche Innovative Lease Owner Trust 2024-2               | CUSIP: 73328NAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1750000 | PA      | $1753282.21   | 0.28%             |  |  |  | Yes           |                  2 | On Loan: No      |
| STEEL DYNAMICS INC                                                       | Steel Dynamics Inc                                        | CUSIP: 858119BU3<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1995002.22   | 0.32%             | 2028-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CFH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9931200.00   | 1.60%             | 2027-08-31      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CFM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  32000000 | PA      | $32341660.80  | 5.22%             | 2027-09-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CGQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  32500000 | PA      | $33047147.25  | 5.33%             | 2030-02-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CHK0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10126059.00  | 1.63%             | 2028-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CMU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  53500000 | PA      | $54407830.80  | 8.78%             | 2030-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CMW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  24500000 | PA      | $24642639.00  | 3.97%             | 2028-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CNH0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $6056250.00   | 0.98%             | 2028-06-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CNL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10031651.00  | 1.62%             | 2027-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CNU1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10034375.00  | 1.62%             | 2028-08-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                                   | US 5YR NOTE (CBT) MAR26                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        75 | NC      | $9168.38      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                                 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | CUSIP: 00774MBR5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    790000 | PA      | $789194.53    | 0.13%             | 2030-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AVALONBAY COMMUNITIES                                                    | AvalonBay Communities Inc                                 | CUSIP: 053484AH4<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | DBT              |  | US        |   2250000 | PA      | $2261441.72   | 0.36%             | 2030-12-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP                                                         | Black Hills Corp                                          | CUSIP: 092113AY5<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |   1860000 | PA      | $1862418.74   | 0.30%             | 2031-01-31      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                                            | Boeing Co/The                                             | CUSIP: 097023DQ5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1595694.00   | 0.26%             | 2029-05-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                                                   | Daimler Trucks Finance North America LLC                  | CUSIP: 233853AF7<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   2510000 | PA      | $2459996.08   | 0.40%             | 2026-12-14      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                       | Energy Transfer LP                                        | CUSIP: 29273VAP5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    910000 | PA      | $936690.85    | 0.15%             | 2028-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                      | JPMorgan Chase & Co                                       | CUSIP: 46647PFD3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1665000 | PA      | $1667313.38   | 0.27%             | 2031-10-22      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                                       | Ally Financial Inc                                        | CUSIP: 02005NBT6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1359564.79   | 0.22%             | 2029-06-13      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                     | Bank of America Corp                                      | CUSIP: 06051GLE7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2001994.52   | 0.32%             | 2027-01-20      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                                 | Benchmark 2019-B12 Mortgage Trust                         | CUSIP: 08162FAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    874594 | PA      | $838344.90    | 0.14%             | 2052-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                                 | Benchmark 2021-B26 Mortgage Trust                         | CUSIP: 08163EAZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1499088 | PA      | $1472152.50   | 0.24%             | 2054-06-15      | Fixed         | 1.96%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                          | CVS Health Corp                                           | CUSIP: 126650DW7<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1064248.18   | 0.17%             | 2029-01-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                                                        | Cisco Systems Inc                                         | CUSIP: 17275RBS0<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2601446.05   | 0.42%             | 2031-02-26      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                                   | Diamondback Energy Inc                                    | CUSIP: 25278XAN9<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $970367.55    | 0.16%             | 2029-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                              | Freddie Mac REMICS                                        | CUSIP: 31397PLU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8827 | PA      | $8779.04      | 0.00%             | 2037-12-15      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Federated Core Trust - Federated Bank Loan Core Fund                     | FEDERATED CORE TR FEDERATED BANK LOAN CORE FUND           | CUSIP: 31409N804<br>LEI: 549300FJK5JF0KIC2N83 | Long             | EC               | RF                | US        |    194376 | NS      | $1663854.29   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| FELLS POINT FUNDING TR                                                   | Fells Point Funding Trust                                 | CUSIP: 314382AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4933464.90   | 0.80%             | 2027-01-31      | Fixed         | 3.05%                 | Yes           |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                                                      | General Electric Co                                       | CUSIP: 369604BZ5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    935000 | PA      | $945829.17    | 0.15%             | 2030-07-29      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                                      | Global Payments Inc                                       | CUSIP: 37940XAV4<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1856616.71   | 0.30%             | 2028-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                                       | Honda Auto Receivables 2025-1 Owner Trust                 | CUSIP: 43814VAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2750000 | PA      | $2779605.68   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| MARS INC                                                                 | Mars Inc                                                  | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |   1885000 | PA      | $1931690.83   | 0.31%             | 2030-03-01      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| MET LIFE GLOB FUNDING I                                                  | Metropolitan Life Global Funding I                        | CUSIP: 59217GFR5<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2555599.25   | 0.41%             | 2029-01-08      | Fixed         | 4.85%                 | Yes           |                  2 | On Loan: No      |
| NBN CO LTD                                                               | NBN Co Ltd                                                | CUSIP: 62878U2H4<br>LEI: 2549007CRZ2NT7S96A24 | Long             | DBT              | CORP              | AU        |    690000 | PA      | $688639.23    | 0.11%             | 2027-10-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Mercedes-Benz Auto Lease Trust                                           | Mercedes-Benz Auto Lease Trust 2024-B                     | CUSIP: 58769GAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1350000 | PA      | $1352766.42   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                               | Navient Private Education Refi Loan Trust 2020-H          | CUSIP: 63935BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    538649 | PA      | $509839.52    | 0.08%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NISOURCE INC                                                             | NiSource Inc                                              | CUSIP: 65473PAN5<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   2305000 | PA      | $2365321.04   | 0.38%             | 2028-03-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                                                   | Philip Morris International Inc                           | CUSIP: 718172CV9<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2042543.82   | 0.33%             | 2027-11-17      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SYNOVUS FINANCIAL CORP                                                   | Synovus Financial Corp                                    | CUSIP: 87161CAP0<br>LEI: 549300EIUS8UN5JTLE54 | Long             | DBT              | CORP              | US        |   1195000 | PA      | $1240651.38   | 0.20%             | 2030-11-01      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                         | T-Mobile USA Inc                                          | CUSIP: 87264ACB9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2290970.35   | 0.37%             | 2031-02-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                                   | Williams Cos Inc/The                                      | CUSIP: 88339WAB2<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   2490000 | PA      | $2543556.49   | 0.41%             | 2029-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CHX2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $20455684.00  | 3.30%             | 2028-08-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CLR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6500000 | PA      | $6634735.25   | 1.07%             | 2029-10-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CNE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7500000 | PA      | $7535028.75   | 1.22%             | 2027-05-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CNX5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $7008964.20   | 1.13%             | 2030-08-31      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                                    | Truist Financial Corp                                     | CUSIP: 89788MAN2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1513715.81   | 0.24%             | 2027-06-08      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CJR3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30000000 | PA      | $30217113.00  | 4.87%             | 2028-12-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                                 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | CUSIP: 00774MAV7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1665000 | PA      | $1640141.55   | 0.26%             | 2026-10-29      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Owner Trust                                                  | BMW Vehicle Owner Trust 2024-A                            | CUSIP: 096919AD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3700000 | PA      | $3733523.85   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                                 | Electricite de France SA                                  | CUSIP: 28504DAB9<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |   1005000 | PA      | $1039537.98   | 0.17%             | 2028-05-23      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                                           | Enterprise Fleet Financing 2023-3 LLC                     | CUSIP: 29374LAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2357274 | PA      | $2388823.91   | 0.39%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                                                   | GE HealthCare Technologies Inc                            | CUSIP: 36267VAF0<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2058359.70   | 0.33%             | 2027-11-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                  | HCA Inc                                                   | CUSIP: 404119DD8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    615000 | PA      | $613401.14    | 0.10%             | 2030-11-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                                       | Honda Auto Receivables 2023-2 Owner Trust                 | CUSIP: 437927AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    889352 | PA      | $893725.81    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitization Trust                                  | Hyundai Auto Lease Securitization Trust 2024-C            | CUSIP: 448984AD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1600000 | PA      | $1608744.56   | 0.26%             |  |  |  | Yes           |                  2 | On Loan: No      |
| MERCEDES-BENZ FIN NA                                                     | Mercedes-Benz Finance North America LLC                   | CUSIP: 58769JAW7<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2556527.85   | 0.41%             | 2029-08-01      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                                                 | Microchip Technology Inc                                  | CUSIP: 595017BE3<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1342990.62   | 0.22%             | 2029-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Federated Hermes Government Obligations Fund                             | Federated Hermes Government Obligations Fund              | CUSIP: 608919718<br>LEI: 254900VAJ9169N7JRF45 | Long             | STIV             | RF                | US        |   6104328 | NS      | $6104328.07   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                                           | Morgan Stanley                                            | CUSIP: 61747YFQ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1568168.54   | 0.25%             | 2030-04-18      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| NATIONAL GRID PLC                                                        | National Grid PLC                                         | CUSIP: 636274AD4<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | DBT              | CORP              | GB        |   1135000 | PA      | $1173310.19   | 0.19%             | 2028-06-12      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                                                              | Netflix Inc                                               | CUSIP: 64110LAN6<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2512549.53   | 0.41%             | 2026-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                                                 | Penske Truck Leasing Co Lp / PTL Finance Corp             | CUSIP: 709599BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1854253.78   | 0.30%             | 2028-05-01      | Fixed         | 5.55%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC                                                    | Republic Services Inc                                     | CUSIP: 760759BL3<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1104500.96   | 0.18%             | 2030-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                                 | Rogers Communications Inc                                 | CUSIP: 775109CG4<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   5100000 | PA      | $5033403.69   | 0.81%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| SKYWORKS SOLUTIONS INC                                                   | Skyworks Solutions Inc                                    | CUSIP: 83088MAK8<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | DBT              | CORP              | US        |    535000 | PA      | $527659.09    | 0.09%             | 2026-06-01      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                       | Energy Transfer LP                                        | CUSIP: 86765BAT6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1997302.08   | 0.32%             | 2026-07-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                                                     | Targa Resources Corp                                      | CUSIP: 87612GAE1<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1319122.93   | 0.21%             | 2029-03-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CMV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14000000 | PA      | $14052593.80  | 2.27%             | 2027-03-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                                                     | Verizon Master Trust                                      | CUSIP: 92348KEN9<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   3400000 | PA      | $3414628.50   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| World Omni Auto Receivables Trust                                        | World Omni Auto Receivables Trust 2025-D                  | CUSIP: 98165HAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1002936.10   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| COMCAST CORP                                                             | Comcast Corp                                              | CUSIP: 20030NEA5<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    590000 | PA      | $606081.02    | 0.10%             | 2027-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: —       |
| GOLDMAN SACHS GROUP INC                                                  | Goldman Sachs Group Inc/The                               | CUSIP: 38141GA87<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1575000 | PA      | $1649871.45   | 0.27%             | 2030-04-25      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                                       | Honda Auto Receivables 2023-4 Owner Trust                 | CUSIP: 438123AC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1727368 | PA      | $1749847.79   | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                                                   | U.S. Treasury Notes                                       | CUSIP: 91282CMG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7500000 | PA      | $7697023.50   | 1.24%             | 2030-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Federated Hermes Institutional Trust

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes Institutional Trust

**Title:** Chief Compliance Officer