# EDGAR Filing Document

**Accession Number:** 0001707560
**File Stem:** 0001193125-26-020465
**Filing Date:** 2026-1
**Character Count:** 29528
**Document Hash:** dcb5ee5e9fc61876a441c7ba045e4223
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-020465.hdr.sgml**: 20260123

**ACCESSION NUMBER**: 0001193125-26-020465

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260123

**DATE AS OF CHANGE**: 20260123

**PERIOD START**: 20260531

**FILER**: 

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

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23259
- **FILM NUMBER:** 26553693

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 1-800-341-7400

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Adviser Series
- **DATE OF NAME CHANGE:** 20200616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Hermes Adviser Series
- **DATE OF NAME CHANGE:** 20200615

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Federated Adviser Series
- **DATE OF NAME CHANGE:** 20180820

## Series and Classes Contracts Data

### Federated Hermes International Equity Fund (Series ID: S000066202)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000213944 | Institutional Shares | PIUIX           |
| C000213945 | Class R6 Shares      | PEIRX           |
| C000213946 | Class A Shares       | PMIEX           |
| C000213947 | Class C Shares       | PIUCX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Federated Hermes Adviser Series

- **b. Investment Company Act file number:** 811-23259

- **c. CIK number of Registrant:** 0001707560

- **d. LEI of Registrant:** 2549001OZ5PPTI84LJ34

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** Federated Hermes Funds

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 15086-7561

  - **Telephone number:** 8003417400

**Item A.2. Information about the Series.**

- **a. Name of Series:** Federated Hermes International Equity Fund

- **b. EDGAR series identifier (if any):** S000066202

- **c. LEI of Series:** 2549007INDPWBKOLWC94

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

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

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $285427344.17

**Total Liabilities:** $1579855.62

**Net Assets:** $283847488.55

**Cash Not Reported:** $37.22

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000213944 | 3.63%                | 0.15%                | 0.08%                |
| Class ID C000213945 | 3.67%                | 0.15%                | 0.04%                |
| Class ID C000213946 | 3.64%                | 0.11%                | 0.04%                |
| Class ID C000213947 | 3.51%                | 0.08%                | -0.04%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $27615968.49             | $-10229809.32                              |
| Month 2  | $42100400.55             | $-42861019.62                              |
| Month 3  | $16786533.03             | $-17510897.48                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Novartis AG                                  | Novartis AG                                  | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     19353 | NS      | $2525021.82   | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Rentokil Initial PLC                         | Rentokil Initial PLC                         | CUSIP: 000000000<br>LEI: 549300VN4WV7Z6T14K68 | Long             | EC               | CORP              | GB        |    421054 | NS      | $2319806.98   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Air Liquide SA                               | Air Liquide SA                               | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |      4388 | NS      | $840565.98    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co Ltd               | Shinhan Financial Group Co Ltd               | CUSIP: 000000000<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               | CORP              | KR        |     32160 | NS      | $1712033.12   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Alstom SA                                    | Alstom SA                                    | CUSIP: 000000000<br>LEI: 96950032TUYMW11FB530 | Long             | EC               | CORP              | FR        |     74187 | NS      | $1944935.41   | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Capgemini SE                                 | Capgemini SE                                 | CUSIP: 000000000<br>LEI: 96950077L0TN7BAROX36 | Long             | EC               | CORP              | FR        |     10842 | NS      | $1695764.80   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| adidas AG                                    | adidas AG                                    | CUSIP: 000000000<br>LEI: 549300JSX0Z4CW0V5023 | Long             | EC               | CORP              | DE        |      2726 | NS      | $508523.21    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp                              | Sony Group Corp                              | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |     59800 | NS      | $1753854.91   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                             | Deutsche Bank AG                             | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | EC               | CORP              | DE        |     52107 | NS      | $1850891.14   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| UniCredit SpA                                | UniCredit SpA                                | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |     29783 | NS      | $2226392.98   | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                          | Societe Generale SA                          | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |     20436 | NS      | $1425604.33   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander SA                           | Banco Santander SA                           | CUSIP: 000000000<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |    304974 | NS      | $3259772.57   | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| SK hynix Inc                                 | SK Hynix Inc                                 | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      3609 | NS      | $1299894.12   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays PLC                                 | Barclays PLC                                 | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |    432509 | NS      | $2458000.69   | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                          | Deutsche Telekom AG                          | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |     68664 | NS      | $2212854.32   | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Legrand SA                                   | Legrand SA                                   | CUSIP: 000000000<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |      5162 | NS      | $782892.30    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Hannover Rueck SE                            | Hannover Rueck SE                            | CUSIP: 000000000<br>LEI: 529900KIN5BE45V5KB18 | Long             | EC               | CORP              | DE        |      3970 | NS      | $1195876.32   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Endesa SA                                    | Endesa SA                                    | CUSIP: 000000000<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |     50499 | NS      | $1831858.51   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Anglo American PLC                           | Anglo American PLC                           | CUSIP: 000000000<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |     53250 | NS      | $2015273.40   | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie de Saint-Gobain SA                       | Cie de Saint-Gobain SA                       | CUSIP: 000000000<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |     24020 | NS      | $2399989.68   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                   | SAMSUNG ELECTRONICS CO LTD                   | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     26086 | NS      | $1782022.01   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group               | Mitsubishi UFJ Financial Group Inc           | CUSIP: 000000000<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    238000 | NS      | $3743215.05   | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Allianz SE                                   | Allianz SE                                   | CUSIP: 000000000<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |      7660 | NS      | $3309460.32   | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Kawasaki Heavy Industries Ltd                | Kawasaki Heavy Industries Ltd                | CUSIP: 000000000<br>LEI: 5493008FFSI8SQ74AT93 | Long             | EC               | CORP              | JP        |     34500 | NS      | $2181120.59   | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Melrose Industries PLC                       | Melrose Industries PLC                       | CUSIP: 000000000<br>LEI: 213800RGNXXZY2M7TR85 | Long             | EC               | CORP              | GB        |    212599 | NS      | $1677687.33   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitt               | LVMH Moet Hennessy Louis Vuitton SE          | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |      1901 | NS      | $1410754.98   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                             | Roche Holding AG                             | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |      3432 | NS      | $1313337.68   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Group In               | Sumitomo Mitsui Trust Group Inc              | CUSIP: 000000000<br>LEI: 353800P843RLCDBLNT17 | Long             | EC               | CORP              | JP        |     43200 | NS      | $1250014.85   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Michelin                                     | Cie Generale des Etablissements Michelin SCA | CUSIP: 000000000<br>LEI: 549300SOSI58J6VIW052 | Long             | EC               | CORP              | FR        |     45092 | NS      | $1474034.30   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| KDDI Corp                                    | KDDI Corp                                    | CUSIP: 000000000<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |    102400 | NS      | $1767449.82   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Accor SA                                     | Accor SA                                     | CUSIP: 000000000<br>LEI: 969500QZC2Q0TK11NV07 | Long             | EC               | CORP              | FR        |     33772 | NS      | $1834544.38   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Heineken NV                                  | Heineken NV                                  | CUSIP: 000000000<br>LEI: 724500K5PTPSST86UQ23 | Long             | EC               | CORP              | NL        |     23295 | NS      | $1897482.96   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Prudential PLC                               | Prudential PLC                               | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | HK        |    147016 | NS      | $2132323.41   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Merlin Properties Socimi SA                  | Merlin Properties Socimi SA                  | CUSIP: 000000000<br>LEI: 959800L8KD863DP30X04 | Long             | EC               | CORP              | ES        |     60160 | NS      | $888155.34    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Federated Hermes Government Obligations Fund | Federated Hermes Government Obligations Fund | CUSIP: 608919718<br>LEI: 254900VAJ9169N7JRF45 | Long             | STIV             | RF                | US        |   4640879 | NS      | $4640878.59   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Mining Corp                           | Lundin Mining Corp                           | CUSIP: 550372106<br>LEI: 549300FQDIM6C8HTN269 | Long             | EC               | CORP              | CA        |     70939 | NS      | $1325426.52   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                    | Shell PLC                                    | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    114130 | NS      | $4212031.89   | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Federated Hermes International Growth Fund   | FED HRMS INT GR FUND-IS                      | CUSIP: 31423A648<br>LEI: N/A                  | Long             | EC               | RF                | US        |   8149044 | NS      | $139348649.01 | 49.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Stellantis NV                                | Stellantis NV                                | CUSIP: 000000000<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | EC               | CORP              | NL        |     70624 | NS      | $755176.79    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Publicis Groupe SA                           | Publicis Groupe SA                           | CUSIP: 000000000<br>LEI: 2138004KW8BV57III342 | Long             | EC               | CORP              | FR        |     18131 | NS      | $1768278.85   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| MS&AD Insurance Group Holdings               | MS&AD Insurance Group Holdings Inc           | CUSIP: 000000000<br>LEI: 529900CXROT5S2HMMP26 | Long             | EC               | CORP              | JP        |     90900 | NS      | $2031175.31   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| CRH PLC                                      | CRH PLC                                      | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |     12777 | NS      | $1533981.60   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                               | BNP Paribas SA                               | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |     26584 | NS      | $2287464.29   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| DSV A/S                                      | DSV A/S                                      | CUSIP: 000000000<br>LEI: 529900X41C0BSLK67H70 | Long             | EC               | CORP              | DK        |      4323 | NS      | $985248.60    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| RELX PLC                                     | RELX PLC                                     | CUSIP: 000000000<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |     19287 | NS      | $774662.02    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Orange SA                                    | Orange SA                                    | CUSIP: 000000000<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |    128752 | NS      | $2124453.26   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Vinci SA                                     | Vinci SA                                     | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |      6917 | NS      | $980807.93    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Breedon Group PLC                            | Breedon Group PLC                            | CUSIP: 000000000<br>LEI: 213800DQGNQE3X76WS92 | Long             | EC               | CORP              | GB        |    194443 | NS      | $846485.57    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Alrosa PJSC                                  | Alrosa PJSC                                  | CUSIP: 000000000<br>LEI: 894500DKUWVBYZLLE651 | Long             | EC               | CORP              | RU        |   8422100 | NS      | $0.08         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| SSE PLC                                      | SSE PLC                                      | CUSIP: 000000000<br>LEI: 549300KI75VYLLMSK856 | Long             | EC               | CORP              | GB        |     91661 | NS      | $2668442.39   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                                    | Nestle SA                                    | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     23289 | NS      | $2315010.63   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore PLC                                 | Glencore PLC                                 | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | CH        |    369020 | NS      | $1766358.52   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Eni SpA                                      | Eni SpA                                      | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |     88310 | NS      | $1652873.67   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Estate Co Ltd                     | Mitsubishi Estate Co Ltd                     | CUSIP: 000000000<br>LEI: 353800KOFMRGOXSJ5Z65 | Long             | EC               | CORP              | JP        |     87000 | NS      | $2062964.84   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Imperial Brands PLC                          | Imperial Brands PLC                          | CUSIP: 000000000<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |     54731 | NS      | $2324435.50   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Smurfit WestRock PLC                         | Smurfit WestRock PLC                         | CUSIP: 000000000<br>LEI: 635400EGSEOPDW2EXS14 | Long             | EC               | CORP              | IE        |     46789 | NS      | $1669899.41   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                                       | AXA SA                                       | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |     53183 | NS      | $2401014.12   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Kia Corp                                     | Kia Motors Corp                              | CUSIP: 000000000<br>LEI: 988400V8MJK9N7OI5X76 | Long             | EC               | CORP              | KR        |     12626 | NS      | $981401.10    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Kerry Group PLC                              | Kerry Group PLC                              | CUSIP: 000000000<br>LEI: 635400TLVVBNXLFHWC59 | Long             | EC               | CORP              | IE        |     26551 | NS      | $2463117.98   | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi SA                                    | Sanofi                                       | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     32130 | NS      | $3201940.37   | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens AG                                   | Siemens AG                                   | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |      9991 | NS      | $2647512.09   | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Erste Group Bank AG                          | Erste Group Bank AG                          | CUSIP: 000000000<br>LEI: PQOH26KWDF7CG10L6792 | Long             | EC               | CORP              | AT        |     16364 | NS      | $1789802.97   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| CVC Capital Partners PLC                     | CVC Capital Partners PLC                     | CUSIP: 000000000<br>LEI: 213800E8UQS1KA32YD39 | Long             | EC               | CORP              | LU        |     67183 | NS      | $1110608.66   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                            | HSBC Holdings PLC                            | CUSIP: 000000000<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | EC               | CORP              | GB        |    333038 | NS      | $4729716.49   | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| TotalEnergies SE                             | TotalEnergies SE                             | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     22906 | NS      | $1505311.99   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayerische Motoren Werke AG                  | Bayerische Motoren Werke AG                  | CUSIP: 000000000<br>LEI: YEH5ZCD6E441RHVHD759 | Long             | EC               | CORP              | DE        |     20770 | NS      | $2121777.26   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Toyota Motor Corp                            | Toyota Motor Corp                            | CUSIP: 000000000<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |    118900 | NS      | $2400874.11   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Daimler Truck Holding AG                     | Daimler Truck Holding AG                     | CUSIP: 000000000<br>LEI: 529900PW78JIYOUBSR24 | Long             | EC               | CORP              | DE        |     36977 | NS      | $1564715.90   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Healthineers AG                      | Siemens Healthineers AG                      | CUSIP: 000000000<br>LEI: 529900QBVWXMWANH7H45 | Long             | EC               | CORP              | DE        |     36403 | NS      | $1809785.99   | 0.64%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Anheuser-Busch InBev SA/NV                   | Anheuser-Busch InBev SA/NV                   | CUSIP: 000000000<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |     11079 | NS      | $681397.63    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Mizuho Financial Group Inc                   | Mizuho Financial Group Inc                   | CUSIP: 000000000<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |     85100 | NS      | $2997589.62   | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| BBVA                                         | Banco Bilbao Vizcaya Argentaria SA           | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |    141152 | NS      | $3044144.58   | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Barratt Redrow PLC                           | Barratt Redrow PLC                           | CUSIP: 000000000<br>LEI: 2138006R85VEOF5YNK29 | Long             | EC               | CORP              | GB        |    387742 | NS      | $2026006.08   | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Aviva PLC                                    | Aviva PLC                                    | CUSIP: 000000000<br>LEI: YF0Y5B0IB8SM0ZFG9G81 | Long             | EC               | CORP              | GB        |    204480 | NS      | $1765801.18   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

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

**Signature:** Stephen Van Meter

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

**Title:** Chief Compliance Officer