# EDGAR Filing Document

**Accession Number:** 0000745968
**File Stem:** 0001145549-23-017743
**Filing Date:** 2023-3
**Character Count:** 112308
**Document Hash:** cde8246e0f4948ff7d331fef3f5c49c3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-017743.hdr.sgml**: 20230323

**ACCESSION NUMBER**: 0001145549-23-017743

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230323

**DATE AS OF CHANGE**: 20230323

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Equity Funds
- **CENTRAL INDEX KEY:** 0000745968
- **IRS NUMBER:** 251470423
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04017
- **FILM NUMBER:** 23755357

**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 EQUITY FUNDS
- **DATE OF NAME CHANGE:** 20200616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED HERMES EQUITY FUNDS
- **DATE OF NAME CHANGE:** 20200615

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED EQUITY FUNDS
- **DATE OF NAME CHANGE:** 19950810

## Series and Classes Contracts Data

### Federated Hermes Kaufmann Small Cap Fund (Series ID: S000009730)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000026733 | Class A Shares       | FKASX           |
| C000026734 | Class B Shares       | FKBSX           |
| C000026735 | Class C Shares       | FKCSX           |
| C000026736 | Class R Shares       | FKKSX           |
| C000164583 | Institutional Shares | FKAIX           |
| C000188312 | Class T Shares       |  |
| C000195257 | Class R6 Shares      | FKALX           |

## Nport-Ex

Federated Hermes Kaufmann Small Cap Fund

Portfolio of Investments

January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
| **Shares or** <br>**Principal** <br>**Amount**<br>|  | **Value** |
|  | COMMON STOCKS—89.6% |  |
|  | **Communication Services—1.0%** |  |
| &nbsp;&nbsp;&nbsp; 2500000 | Infrastrutture Wireless Italiane SPA | $27408326 |
| &nbsp;&nbsp;&nbsp; 1500000<br><sup>1</sup> <br>| Reservoir Media Management, Inc. | &nbsp;&nbsp; 10560000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 980100<br><sup>1</sup> <br>| Tremor International Ltd., ADR | &nbsp;&nbsp; 7987815 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45956141 |
|  | **Consumer Discretionary—15.7%** |  |
| &nbsp;&nbsp;&nbsp; 1025000 | Academy Sports and Outdoors, Inc. | &nbsp;&nbsp; 59880500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200000<br><sup>1,2</sup> <br>| Bowlero Corp. | &nbsp;&nbsp; 2750000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000<br><sup>1</sup> <br>| Bright Horizons Family Solutions, Inc. | &nbsp;&nbsp; 7678000 |
| &nbsp;&nbsp;&nbsp; 1314573<br><sup>1</sup> <br>| Chicos Fas, Inc. | &nbsp;&nbsp; 6927800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540000 | Choice Hotels International, Inc. | &nbsp;&nbsp; 66360600 |
| &nbsp;&nbsp;&nbsp; 4000000<br><sup>1</sup> <br>| CTOS LLC | &nbsp;&nbsp; 28320000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 734720<br><sup>1,2</sup> <br>| Custom Truck One Source, Inc. | &nbsp;&nbsp; 5201818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000<br><sup>1,2</sup> <br>| Dutch Bros, Inc. | &nbsp;&nbsp; 11433000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245000<br><sup>1</sup> <br>| Etsy, Inc. | &nbsp;&nbsp; 33707100 |
| &nbsp;&nbsp;&nbsp; 1205109<br><sup>1,2</sup> <br>| European Wax Center, Inc. | &nbsp;&nbsp; 22704253 |
| &nbsp;&nbsp;&nbsp; 1580300<br><sup>1</sup> <br>| First Watch Restaurant Group, Inc. | &nbsp;&nbsp; 25600860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000<br><sup>1</sup> <br>| Floor & Decor Holdings, Inc. | &nbsp;&nbsp; 36308000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625000<br><sup>1,2</sup> <br>| Lovesac Co./The | &nbsp;&nbsp; 16087500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950000<br><sup>1,2</sup> <br>| Mister Car Wash, Inc. | &nbsp;&nbsp; 9756500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271200 | Moncler S.p.A. | &nbsp;&nbsp; 16990550 |
| &nbsp;&nbsp; 32404127 | NagaCorp Ltd. | &nbsp;&nbsp; 29491845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 582800<br><sup>1,2</sup> <br>| National Vision Holdings, Inc. | &nbsp;&nbsp; 23953080 |
| &nbsp;&nbsp;&nbsp; 1010000<br><sup>1</sup> <br>| Planet Fitness, Inc. | &nbsp;&nbsp; 85496500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 494500<br><sup>1,2</sup> <br>| Revolve Group, Inc. | &nbsp;&nbsp; 14113030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000<br><sup>1</sup> <br>| Six Flags Entertainment Corp. | &nbsp;&nbsp; 13425000 |
| &nbsp;&nbsp;&nbsp; 1400000<br><sup>1</sup> <br>| Sportradar Group AG | &nbsp;&nbsp; 17570000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166000 | Vail Resorts, Inc. | &nbsp;&nbsp; 43548440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | Wingstop, Inc. | &nbsp;&nbsp; 79235000 |
| &nbsp;&nbsp;&nbsp; 1740000<br><sup>1</sup> <br>| Xponential Fitness, Inc. | &nbsp;&nbsp; 47815200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 804700<br><sup>1</sup> <br>| YETI Holdings, Inc. | &nbsp;&nbsp; 36018372 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 740372948 |
|  | **Consumer Staples—1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100948<br><sup>1</sup> <br>| Chefs Warehouse, Inc. | &nbsp;&nbsp; 3859242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850200<br><sup>1</sup> <br>| Grocery Outlet Holding Corp. | &nbsp;&nbsp; 25837578 |
| &nbsp;&nbsp;&nbsp; 1200000<br><sup>1</sup> <br>| The Duckhorn Portfolio, Inc. | &nbsp;&nbsp; 19416000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 770000<br><sup>1</sup> <br>| Vital Farms, Inc. | &nbsp;&nbsp; 13536600 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62649420 |
|  | **Energy—3.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 542400 | Cactus, Inc. | &nbsp;&nbsp; 29349264 |
| &nbsp;&nbsp;&nbsp; 1035000 | Matador Resources Co. | &nbsp;&nbsp; 68475600 |
| &nbsp;&nbsp;&nbsp; 1650000 | New Fortress Energy, Inc. | &nbsp;&nbsp; 64003500 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 161828364 |
|  | **Financials—6.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 745038<br><sup>2</sup> <br>| AFC Gamma, Inc. | &nbsp;&nbsp; 11697097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625000 | Ares Management Corp. | &nbsp;&nbsp; 51868750 |

---

**1**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | COMMON STOCKS—continued |  |
|  | **Financials—continued** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 925000 | Artisan Partners Asset Management, Inc. | $34058500 |
| &nbsp;&nbsp;&nbsp; 1889026<br><sup>1</sup> <br>| CrossFirst Bankshares, Inc. | &nbsp;&nbsp; 25501851 |
| &nbsp;&nbsp;&nbsp; 2265000 | FinecoBank Banca Fineco SPA | &nbsp;&nbsp; 40597462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 865000 | Hamilton Lane, Inc. | &nbsp;&nbsp; 67348900 |
| &nbsp;&nbsp;&nbsp; 3181933<br><sup>2</sup> <br>| P10, Inc. | &nbsp;&nbsp; 35955843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200000<br><sup>1,2</sup> <br>| Skyward Specialty Insurance Group, Inc. | &nbsp;&nbsp; 3702000 |
| &nbsp;&nbsp;&nbsp; 1179109 | StepStone Group, Inc. | &nbsp;&nbsp; 34418192 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 305148595 |
|  | **Health Care—30.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184255<br><sup>1</sup> <br>| 89Bio, Inc. | &nbsp;&nbsp; 2152098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58000<br><sup>1</sup> <br>| Akero Therapeutics, Inc. | &nbsp;&nbsp; 2871000 |
| &nbsp;&nbsp;&nbsp; 1006948<br><sup>1</sup> <br>| Alector, Inc. | &nbsp;&nbsp; 8881281 |
| &nbsp;&nbsp;&nbsp; 1999600<br><sup>1</sup> <br>| Amphastar Pharmaceuticals, Inc. | &nbsp;&nbsp; 60507896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 731462<br><sup>1</sup> <br>| Amylyx Pharmaceuticals, Inc. | &nbsp;&nbsp; 28665996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 682002<br><sup>1,2</sup> <br>| AnaptysBio, Inc. | &nbsp;&nbsp; 16975030 |
| &nbsp;&nbsp;&nbsp; 1000000<br><sup>1</sup> <br>| Annexon, Inc. | &nbsp;&nbsp; 7140000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275000<br><sup>1</sup> <br>| Apellis Pharmaceuticals, Inc. | &nbsp;&nbsp; 14500750 |
| &nbsp;&nbsp;&nbsp; 2194945<br><sup>1,2</sup> <br>| Arcturus Therapeutics Holdings, Inc. | &nbsp;&nbsp; 46379188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425914<br><sup>1</sup> <br>| Argenx SE | &nbsp;&nbsp; 161915895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139000<br><sup>1</sup> <br>| Argenx SE, ADR | &nbsp;&nbsp; 53132750 |
| &nbsp;&nbsp;&nbsp; 2900000<br><sup>1</sup> <br>| aTyr Pharma, Inc. | &nbsp;&nbsp; 6670000 |
| &nbsp;&nbsp;&nbsp; 1111700<br><sup>1</sup> <br>| Avidity Biosciences LLC | &nbsp;&nbsp; 26347290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 661070<br><sup>1</sup> <br>| CASI Pharmaceuticals, Inc. | &nbsp;&nbsp; 1348583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293000<br><sup>1,2</sup> <br>| Century Therapeutics, Inc. | &nbsp;&nbsp; 1339010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338980<br><sup>1</sup> <br>| Century Therapeutics, Inc. | &nbsp;&nbsp; 1549139 |
| &nbsp;&nbsp;&nbsp; 1957807<br><sup>3</sup> <br>| CeQur SA | &nbsp;&nbsp; 10922959 |
| &nbsp;&nbsp;&nbsp; 2000000<br><sup>1</sup> <br>| Cerevel Therapeutics Holdings | &nbsp;&nbsp; 68300000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120000<br><sup>1</sup> <br>| Charles River Laboratories International, Inc. | &nbsp;&nbsp; 29190000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405000<br><sup>1</sup> <br>| Chinook Therapeutics, Inc. | &nbsp;&nbsp; 10234350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190200<br><sup>1,3</sup> <br>| Clementia Pharmaceuticals, Inc., Rights | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; 1950000<br><sup>1,2,3</sup> <br>| Contra Akouos, Inc., Rights | &nbsp;&nbsp; 1540500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308000<br><sup>1,2</sup> <br>| CRISPR Therapeutics AG | &nbsp;&nbsp; 15714160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364570<br><sup>1</sup> <br>| Cryoport, Inc. | &nbsp;&nbsp; 8323133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164500<br><sup>1</sup> <br>| Cytokinetics, Inc. | &nbsp;&nbsp; 6987960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650000<br><sup>1</sup> <br>| Denali Therapeutics, Inc. | &nbsp;&nbsp; 19675500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358220<br><sup>1</sup> <br>| Dexcom, Inc. | &nbsp;&nbsp; 38361780 |
| &nbsp;&nbsp;&nbsp; 5848585<br><sup>1,2</sup> <br>| Dynavax Technologies Corp. | &nbsp;&nbsp; 66556897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200000<br><sup>1</sup> <br>| EDAP TMS SA, ADR | &nbsp;&nbsp; 2200000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000<br><sup>1</sup> <br>| Evotec SE, ADR | &nbsp;&nbsp; 7395000 |
| &nbsp;&nbsp;&nbsp; 1000000<br><sup>1</sup> <br>| Frequency Therapeutics, Inc. | &nbsp;&nbsp; 4540000 |
| &nbsp;&nbsp;&nbsp; 2510000<br><sup>1,2</sup> <br>| Fusion Pharmaceuticals, Inc. | &nbsp;&nbsp; 7605300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 645000<br><sup>1</sup> <br>| Galapagos N.V. | &nbsp;&nbsp; 28432859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600338<br><sup>1</sup> <br>| Gracell Biotechnologies, Inc., ADR | &nbsp;&nbsp; 1290727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 406308<br><sup>1</sup> <br>| Graphite Bio, Inc. | &nbsp;&nbsp; 873562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285800<br><sup>1</sup> <br>| Guardant Health, Inc. | &nbsp;&nbsp; 8982694 |
| &nbsp;&nbsp;&nbsp; 1607500<br><sup>1</sup> <br>| IDEAYA Biosciences, Inc. | &nbsp;&nbsp; 27375725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404786<br><sup>1</sup> <br>| Immatics N.V. | &nbsp;&nbsp; 3282814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247016 | Immatics N.V.—Restricted | &nbsp;&nbsp; 2003300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74361<br><sup>1</sup> <br>| Immunocore Holdings Ltd., ADR | &nbsp;&nbsp; 4556098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240000<br><sup>1</sup> <br>| Inspire Medical Systems, Inc. | &nbsp;&nbsp; 60734400 |

---

**2**

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---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | COMMON STOCKS—continued |  |
|  | **Health Care—continued** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72500<br><sup>1</sup> <br>| Insulet Corp. | $20830700 |
| &nbsp;&nbsp;&nbsp; 1000000<br><sup>1</sup> <br>| Intellia Therapeutics, Inc. | &nbsp;&nbsp; 42440000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188702<br><sup>1,3</sup> <br>| Laronde, Inc. | &nbsp;&nbsp; 4092022 |
| &nbsp;&nbsp;&nbsp; 1162500<br><sup>1</sup> <br>| Legend Biotech Corp., ADR | &nbsp;&nbsp; 58706250 |
| &nbsp;&nbsp;&nbsp; 1620439<br><sup>1,2</sup> <br>| Merus N.V. | &nbsp;&nbsp; 25278848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 534050<br><sup>1</sup> <br>| Minerva Neurosciences, Inc. | &nbsp;&nbsp; 1276380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322950<br><sup>1</sup> <br>| Moonlake Immunotherapeutics | &nbsp;&nbsp; 3859253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425000<br><sup>1</sup> <br>| Morphic Holding, Inc. | &nbsp;&nbsp; 13910250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185000<br><sup>1</sup> <br>| Natera, Inc. | &nbsp;&nbsp; 7942050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660900<br><sup>1</sup> <br>| Orchard Therapeutics PLC | &nbsp;&nbsp; 367857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000<br><sup>1</sup> <br>| Penumbra, Inc. | &nbsp;&nbsp; 25041000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142400<br><sup>1</sup> <br>| Privia Health Group, Inc. | &nbsp;&nbsp; 3850496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229325<br><sup>1</sup> <br>| Prometheus Biosciences, Inc. | &nbsp;&nbsp; 26065080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5761<br><sup>1,2</sup> <br>| Protalix Biotherapeutics, Inc. | &nbsp;&nbsp; 8987 |
| &nbsp;&nbsp;&nbsp; 1378500 | Regulus Therapeutics, Inc. | &nbsp;&nbsp; 1985040 |
| &nbsp;&nbsp;&nbsp; 1513500<br><sup>1</sup> <br>| Regulus Therapeutics, Inc. | &nbsp;&nbsp; 2179440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255000<br><sup>1</sup> <br>| Repligen Corp. | &nbsp;&nbsp; 47251500 |
| &nbsp;&nbsp;&nbsp; 3310800<br><sup>1</sup> <br>| Rezolute, Inc. | &nbsp;&nbsp; 8508756 |
| &nbsp;&nbsp;&nbsp; 1855626<br><sup>1,2</sup> <br>| Rhythm Pharmaceuticals, Inc. | &nbsp;&nbsp; 50751371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 336300<br><sup>1</sup> <br>| Sarepta Therapeutics, Inc. | &nbsp;&nbsp; 42027411 |
| &nbsp;&nbsp;&nbsp; 3593000<br><sup>1,2</sup> <br>| Scynexis, Inc. | &nbsp;&nbsp; 6593155 |
| &nbsp;&nbsp;&nbsp; 4964241<br><sup>1</sup> <br>| Seres Therapeutics, Inc. | &nbsp;&nbsp; 27154398 |
| &nbsp;&nbsp;&nbsp; 1280000<br><sup>1</sup> <br>| Ultragenyx Pharmaceutical, Inc. | &nbsp;&nbsp; 58022400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 822570<br><sup>3</sup> <br>| United Therapeutics Corp. | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187800<br><sup>1</sup> <br>| Veeva Systems, Inc. | &nbsp;&nbsp; 32029290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 934389<br><sup>1,2</sup> <br>| Verve Therapeutics, Inc. | &nbsp;&nbsp; 21257350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800110<br><sup>1,2</sup> <br>| Zentalis Pharmaceuticals, LLC | &nbsp;&nbsp; 18882596 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp; 1425767504 |
|  | **Industrials—9.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441012 | Advanced Drainage System, Inc. | &nbsp;&nbsp; 44471650 |
| &nbsp;&nbsp;&nbsp; 1793594<br><sup>2</sup> <br>| Aris Water Solutions, Inc. | &nbsp;&nbsp; 27782771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171300<br><sup>1</sup> <br>| Chart Industries, Inc. | &nbsp;&nbsp; 22950774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345000 | Comfort Systems USA, Inc. | &nbsp;&nbsp; 41758800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 452000<br><sup>1</sup> <br>| CoStar Group, Inc. | &nbsp;&nbsp; 35210800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 737900<br><sup>1</sup> <br>| Evoqua Water Technologies Corp. | &nbsp;&nbsp; 35795529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255000<br><sup>1</sup> <br>| Fiverr International Ltd. | &nbsp;&nbsp; 9457950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200800<br><sup>1</sup> <br>| GMS, Inc. | &nbsp;&nbsp; 11911456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 765000<br><sup>1</sup> <br>| GXO Logistics, Inc. | &nbsp;&nbsp; 40032450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271700 | Herc Holdings, Inc. | &nbsp;&nbsp; 42200444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 381119<br><sup>1</sup> <br>| Mercury Systems, Inc. | &nbsp;&nbsp; 19050233 |
| &nbsp;&nbsp;&nbsp; 1147800<br><sup>1</sup> <br>| Montrose Environmental Group, Inc. | &nbsp;&nbsp; 62164848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149185<br><sup>1</sup> <br>| MYR Group, Inc. | &nbsp;&nbsp; 14778266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209500<br><sup>1</sup> <br>| Trex Co., Inc. | &nbsp;&nbsp; 11044840 |
| &nbsp;&nbsp;&nbsp; 1200000<br><sup>1</sup> <br>| Upwork, Inc. | &nbsp;&nbsp; 15552000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391000<br><sup>1</sup> <br>| XPO Logistics, Inc. | &nbsp;&nbsp; 15585260 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 449748071 |
|  | **Information Technology—11.7%** |  |
| &nbsp;&nbsp;&nbsp; 1538110<br><sup>1</sup> <br>| Allegro MicroSystems, Inc. | &nbsp;&nbsp; 58709659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000<br><sup>1</sup> <br>| Alteryx, Inc. | &nbsp;&nbsp; 41617500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 397500<br><sup>1</sup> <br>| Blackline, Inc. | &nbsp;&nbsp; 28540500 |

---

**3**

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| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
|  | COMMON STOCKS—continued |  |
|  | **Information Technology—continued** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 695000<br><sup>1</sup> <br>| Camtek Ltd. | $18063050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000<br><sup>1</sup> <br>| Coupa Software, Inc. | &nbsp;&nbsp; 31968000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 549449<br><sup>1</sup> <br>| Docebo, Inc. | &nbsp;&nbsp; 20928512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700000<br><sup>1</sup> <br>| Domo, Inc. | &nbsp;&nbsp; 10857000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390000<br><sup>1</sup> <br>| Endava PLC, ADR | &nbsp;&nbsp; 34269300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350000<br><sup>1</sup> <br>| Envestnet, Inc. | &nbsp;&nbsp; 22750000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150000<br><sup>1</sup> <br>| Everbridge, Inc. | &nbsp;&nbsp; 4794000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384500<br><sup>1</sup> <br>| Novanta, Inc. | &nbsp;&nbsp; 62085215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000<br><sup>1</sup> <br>| Okta, Inc. | &nbsp;&nbsp; 22083000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 495000<br><sup>1</sup> <br>| Q2 Holdings, Inc. | &nbsp;&nbsp; 16196400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000<br><sup>1</sup> <br>| Rapid7, Inc. | &nbsp;&nbsp; 11961000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68900<br><sup>1</sup> <br>| Rogers Corp. | &nbsp;&nbsp; 9617751 |
| &nbsp;&nbsp; 391498168<br><sup>1,2</sup> <br>| Seeing Machines Ltd. | &nbsp;&nbsp; 33924123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343000<br><sup>1</sup> <br>| Shopify, Inc. | &nbsp;&nbsp; 16899610 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1316094<br><sup>1</sup> <br>| ShotSpotter, Inc. | &nbsp;&nbsp; 50735424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800000<br><sup>1</sup> <br>| Smartsheet, Inc. | &nbsp;&nbsp; 34568000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35000<br><sup>1</sup> <br>| SPS Commerce, Inc. | &nbsp;&nbsp; 4762800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46900<br><sup>1</sup> <br>| Tyler Technologies, Inc. | &nbsp;&nbsp; 15137913 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 550468757 |
|  | **Materials—2.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000<br><sup>1</sup> <br>| Aspen Aerogels, Inc. | &nbsp;&nbsp; 7875000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 880000<br><sup>1</sup> <br>| ATI, Inc. | &nbsp;&nbsp; 32023200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 968000<br><sup>1,2</sup> <br>| Livent Corp. | &nbsp;&nbsp; 25090560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195000<br><sup>2</sup> <br>| Scotts Miracle-Gro Co. | &nbsp;&nbsp; 14077050 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1350000<br><sup>1,2</sup> <br>| SilverCrest Metals, Inc. | &nbsp;&nbsp; 8815500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270000 | Westlake Corp. | &nbsp;&nbsp; 33142500 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 121023810 |
|  | **Real Estate—7.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Americold Realty Trust, Inc. | &nbsp;&nbsp; 31410000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1825000 | Easterly Government Properties, Inc. | &nbsp;&nbsp; 29638000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 770000 | Gaming and Leisure Properties, Inc. | &nbsp;&nbsp; 41241200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445000 | Lamar Advertising Co. | &nbsp;&nbsp; 47410300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | National Storage Affiliates Trust | &nbsp;&nbsp; 16320000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1475000 | Physicians Realty Trust | &nbsp;&nbsp; 23393500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | Ryman Hospitality Properties | &nbsp;&nbsp; 69667500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1225000 | STAG Industrial, Inc. | &nbsp;&nbsp; 43610000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1425000 | VICI Properties, Inc. | &nbsp;&nbsp; 48706500 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp; 351397000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCKS <br>(IDENTIFIED COST $2,988,820,366)<br>| &nbsp;&nbsp; 4214360610 |
|  | CORPORATE BONDS—0.4% |  |
|  | **Consumer Discretionary—0.3%** |  |
| $13000000 | NagaCorp Ltd., Sr. Unsecd. Note, 7.950%, 7/6/2024 | &nbsp;&nbsp; 12090000 |
|  | **Health Care—0.0%** |  |
| &nbsp;&nbsp; 3000000 | Cryoport, Inc., Conv. Bond, 0.750%, 12/1/2026 | &nbsp;&nbsp; 2391198 |
|  | **Industrials—0.1%** |  |
| &nbsp;&nbsp; 3000000 | Fiverr International Ltd., Conv. Bond, 0.000%, 11/1/2025 | &nbsp;&nbsp; 2567799 |
| &nbsp;&nbsp; 3000000 | Upwork, Inc., Conv. Bond, 0.250%, 8/15/2026 | &nbsp;&nbsp; 2368752 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4936551 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CORPORATE BONDS <br>(IDENTIFIED COST $19,279,366)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19417749 |

---

**4**

------

---

| | | |
|:---|:---|:---|
| **Shares or**<br> **Principal**<br> **Amount**<br>|  | **Value** |
| <sup>1</sup> <br>| WARRANTS—0.1% |  |
|  | **Health Care—0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176600 | Catabasis Pharmaceuticals, Inc., Warrants 6/22/2023 | $106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129500 | Catabasis Pharmaceuticals, Inc., Warrants 2/8/2024 | &nbsp;&nbsp; 26081 |
| &nbsp;&nbsp;&nbsp; 2247188 | ContraFect Corp., Warrants 5/27/2023 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200000 | Immatics N.V., Warrants 12/31/2025 | &nbsp;&nbsp; 494000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193334 | Rezolute, Inc., Warrants 10/8/2027 | &nbsp;&nbsp; 152444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64800 | Rezolute, Inc., Warrants 1/1/2099 | &nbsp;&nbsp; 166536 |
| &nbsp;&nbsp;&nbsp; 1685800 | Rezolute, Inc., Warrants 12/31/2099 | &nbsp;&nbsp; 4332506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15480 | Scynexis, Inc., Warrants 3/8/2023 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720500 | Scynexis, Inc., Warrants 5/21/2024 | &nbsp;&nbsp; 48129 |
| &nbsp;&nbsp;&nbsp; 1441000 | Scynexis, Inc., Warrants 1/1/2099 | &nbsp;&nbsp; 2644235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165355 | Scynexis, Inc., Warrants 4/26/2029 | &nbsp;&nbsp; 179741 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL WARRANTS <br>(IDENTIFIED COST $16,449,911)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8043778 |
|  | INVESTMENT COMPANIES—12.6% |  |
| &nbsp;&nbsp; 45418389 | Federated Hermes Government Obligations Fund, Premier Shares, 4.19%<sup>4</sup> <br>| &nbsp;&nbsp; 45418389 |
| 546953868 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 4.41%<sup>4</sup> <br>| &nbsp;&nbsp; 546953868 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT COMPANIES <br>(IDENTIFIED COST $592,119,862)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 592372257 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT IN SECURITIES—102.7% <br>(IDENTIFIED COST $3,616,669,505)<br>| &nbsp;&nbsp; 4834194394 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OTHER ASSETS AND LIABILITIES - NET—(2.7)%<sup>5</sup> <br>| &nbsp;&nbsp;&nbsp; (129362447) |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL NET ASSETS—100% | $4704831947 |

---

An affiliated company is a company in which the Fund, alone or in combination with other Federated Hermes funds, has ownership of at least 5% of the voting shares. Transactions with the affiliated companies during the period ended January 31, 2023, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated** | **Value as of** <br>**10/31/2022**<br>| **Purchases** <br>**at Cost\***<br>| **Proceeds** <br>**from Sales\***<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**Depreciation\***<br>| **Net** <br>**Realized Gain/** <br>**(Loss)\***<br>| **Value as of** <br>**1/31/2023**<br>| **Shares** <br>**Held as of** <br>**1/31/2023**<br>| **Dividend** <br>**Income\***<br>|
| **Communication Services:** |  |  |  |  |  |  |  |  |
| Reservoir Media Management, Inc.\*\* | $8700000 | $— | $— | $1860000 | $— | $10560000 | &nbsp;&nbsp;&nbsp; 1500000 | $— |
| **Consumer Discretionary:** |  |  |  |  |  |  |  |  |
| Xponential Fitness, Inc. | $36281250 | $— | $(3473098) | $14126413 | $880635 | $47815200 | &nbsp;&nbsp;&nbsp; 1740000 | $— |
| **Financials:** |  |  |  |  |  |  |  |  |
| P10, Inc. | $33060284 | $— | $— | $2895559 | $— | $35955843 | &nbsp;&nbsp;&nbsp; 3181933 | $95458 |
| **Health Care:** |  |  |  |  |  |  |  |  |
| Alector, Inc.\*\* | $13800000 | $— | $(4157184) | $4475850 | $(5237385) | $8881281 | &nbsp;&nbsp;&nbsp; 1006948 | $— |
| Amphastar Pharmaceuticals, Inc. | $61787640 | $— | $— | $(1279744) | $— | $60507896 | &nbsp;&nbsp;&nbsp; 1999600 | $— |
| AnaptysBio, Inc.\*\* | $34211196 | $— | $(12429640) | $(3300952) | $(1505574) | $16975030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 682002 | $— |
| Annexon, Inc. | $4780000 | $— | $— | $2360000 | $— | $7140000 | &nbsp;&nbsp;&nbsp; 1000000 | $— |
| Arcturus Therapeutics Holdings, Inc. | $27227857 | $16157620 | $(4932122) | $14479453 | $(6553620) | $46379188 | &nbsp;&nbsp;&nbsp; 2194945 | $— |
| aTyr Pharma, Inc. | $7163000 | $— | $— | $(493000) | $— | $6670000 | &nbsp;&nbsp;&nbsp; 2900000 | $— |
| CASI Pharmaceuticals, Inc.\*\* | $1937724 | $— | $(637480) | $6611821 | $(6563482) | $1348583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 661070 | $— |
| Dynavax Technologies Corp. | $66966298 | $— | $— | $(409401) | $— | $66556897 | &nbsp;&nbsp;&nbsp; 5848585 | $— |
| Fusion Pharmaceuticals, Inc. | $6212250 | $— | $— | $1393050 | $— | $7605300 | &nbsp;&nbsp;&nbsp; 2510000 | $— |
| IDEAYA Biosciences, Inc. | $27150675 | $— | $— | $225050 | $— | $27375725 | &nbsp;&nbsp;&nbsp; 1607500 | $— |
| Merus N.V. | $41770800 | $2630334 | $(8633116) | $(3937540) | $(6551630) | $25278848 | &nbsp;&nbsp;&nbsp; 1620439 | $— |
| Minerva Neurosciences, Inc. | $1415233 | $— | $— | $(138853) | $— | $1276380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 534050 | $— |
| Orchard Therapeutics PLC | $298859 | $— | $— | $68998 | $— | $367857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660900 | $— |
| Regulus Therapeutics, Inc. | $2136675 | $— | $— | $(151635) | $— | $1985040 | &nbsp;&nbsp;&nbsp; 1378500 | $— |
| Regulus Therapeutics, Inc. | $2345925 | $— | $— | $(166485) | $— | $2179440 | &nbsp;&nbsp;&nbsp; 1513500 | $— |
| Rezolute, Inc. | $5595252 | $— | $— | $2913504 | $— | $8508756 | &nbsp;&nbsp;&nbsp; 3310800 | $— |

---

**5**

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated** | **Value as of**<br> **10/31/2022**<br>| **Purchases**<br> **at Cost\***<br>| **Proceeds**<br> **from Sales\***<br>| **Change in**<br> **Unrealized**<br> **Appreciation/**<br> **Depreciation\***<br>| **Net**<br> **Realized Gain/**<br> **(Loss)\***<br>| **Value as of**<br> **1/31/2023**<br>| **Shares**<br> **Held as of**<br> **1/31/2023**<br>| **Dividend**<br> **Income\***<br>|
| Rezolute, Inc., Warrants 10/8/2027 | $102506 | $— | $— | $49938 | $— | $152444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193334 | $— |
| Rezolute, Inc., Warrants 1/1/2099 | $109512 | $— | $— | $57024 | $— | $166536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64800 | $— |
| Rezolute, Inc., Warrants 12/31/2099 | $2849002 | $— | $— | $1483504 | $— | $4332506 | &nbsp;&nbsp;&nbsp; 1685800 | $— |
| Rhythm Pharmaceuticals, Inc. | $59083454 | $— | $(15119695) | $4453417 | $2334195 | $50751371 | &nbsp;&nbsp;&nbsp; 1855626 | $— |
| Scynexis, Inc. | $8299830 | $— | $— | $(1706675) | $— | $6593155 | &nbsp;&nbsp;&nbsp; 3593000 | $— |
| Scynexis, Inc., Warrants 3/8/2023 | $— | $— | $— | $— | $— | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15480 | $— |
| Scynexis, Inc., Warrants 5/21/2024 | $115208 | $— | $— | $(67079) | $— | $48129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 720500 | $— |
| Scynexis, Inc., Warrants 1/1/2099 | $3328710 | $— | $— | $(684475) | $— | $2644235 | &nbsp;&nbsp;&nbsp; 1441000 | $— |
| Scynexis, Inc., Warrants 4/26/2029 | $238458 | $— | $— | $(58717) | $— | $179741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165355 | $— |
| Seres Therapeutics, Inc. | $53160000 | $— | $(5598343) | $(20290942) | $(116317) | $27154398 | &nbsp;&nbsp;&nbsp; 4964241 | $— |
| Ultragenyx Pharmaceutical, Inc.\*\* | $62713000 | $— | $(11556978) | $19497672 | $(12631294) | $58022400 | &nbsp;&nbsp;&nbsp; 1280000 | $— |
| **Industrials:** |  |  |  |  |  |  |  |  |
| Aris Water Solutions, Inc. | $44083858 | $— | $(12413257) | $(2778300) | $(1109530) | $27782771 | &nbsp;&nbsp;&nbsp; 1793594 | $— |
| **Information Technology:** |  |  |  |  |  |  |  |  |
| Seeing Machines Ltd. | $30028454 | $— | $— | $3895669 | $— | $33924123 | 391498168 | $— |
| ShotSpotter, Inc. | $50163800 | $— | $(153589) | $757646 | $(32433) | $50735424 | &nbsp;&nbsp;&nbsp; 1316094 | $— |
| Affiliated issuers no longer in the portfolio <br> at period end<br>| $71022564 | $— | $(88021397) | $6337626 | $10661207 | $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL OF AFFILIATED COMPANIES <br>TRANSACTIONS<br>| $768139274 | $18787954 | $(167125899) | $52478396 | $(26425228) | $645854497 | 446437764 | $95458 |

---

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

\* *A portion of the amount shown was recorded when the Fund no longer had ownership of at least 5% of the voting shares.*

\*\* *At January 31, 2023, the Fund no longer has ownership of at least 5% of the voting shares.*

Affiliated fund holdings are investment companies which are managed by the Adviser or an affiliate of the Adviser. Transactions with affiliated fund holdings during the period ended January 31, 2023, were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Federated Hermes** <br>**Government** <br>**Obligations Fund,** <br>**Premier Shares\***<br>| **Federated Hermes** <br>**Institutional** <br>**Prime Value** <br>**Obligations Fund,** <br>**Institutional Shares\***<br>| **Total of** <br>**Affiliated** <br>**Transactions**<br>|
| Value as of 10/31/2022 | $54752001 | $539478128 | $594230129 |
| Purchases at Cost | $121573568 | $410560632 | $532134200 |
| Proceeds from Sales | $(130907180) | $(403389182) | $(534296362) |
| Change in Unrealized Appreciation/Depreciation | $— | $268867 | $268867 |
| Net Realized Gain/(Loss) | $— | $35423 | $35423 |
| Value as of 1/31/2023 | $45418389 | $546953868 | $592372257 |
| Shares Held as of 1/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 45418389 | &nbsp;&nbsp; 546953868 | &nbsp;&nbsp; 592372257 |
| Dividend Income | $561013 | $5453439 | $6014452 |

---

&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.*

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

---

| | |
|:---|:---|
| 1 | *Non-income-producing security.* |
| 2 | *All or a portion of these securities are temporarily on loan to unaffiliated broker/dealers. As of January 31, 2023, 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>|
| $134125149 | $135552746 |

---

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

---

| | |
|:---|:---|
| 3 | *Market quotations and price evaluations may not be available. Fair value determined using significant unobservable inputs in accordance with procedures* <br> *established by and under the supervision of the Fund's Adviser acting through its Valuation Committee.*<br>|
| 4 | *7-day net yield.* |
| 5 | *Assets, other than investments in securities, less liabilities.* |

---

Note: The categories of investments are shown as a percentage of total net assets at January 31, 2023.

**6**

------

**Investment Valuation** 

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

◾ 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.

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

◾ 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, the Fund's Board of Trustees (the "Trustees") have 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.

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

**7**

------

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; <br>The following is a summary of the inputs used, as of January 31, 2023, 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** |
| **Equity Securities:** |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp; Domestic | $3479945917 | $— | $5632522 | $3485578439 |
| &nbsp;&nbsp; International | &nbsp;&nbsp;&nbsp;&nbsp; 379098152 | &nbsp;&nbsp; 338761060 | &nbsp;&nbsp; 10922959 | &nbsp;&nbsp;&nbsp;&nbsp; 728782171 |
| **Debt Securities:** |  |  |  |  |
| Corporate Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19417749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19417749 |
| Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4993042 | &nbsp;&nbsp;&nbsp;&nbsp; 3050736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8043778 |
| **Investment Companies** | &nbsp;&nbsp;&nbsp;&nbsp; 592372257 | &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; 592372257 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SECURITIES | $4456409368 | $361229545 | $16555481 | $4834194394 |

---

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

The following acronym(s) are used throughout this portfolio: <br> ADR —American Depositary Receipt

**8**

------

## 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 Equity Funds

- **b. Investment Company Act file number:** 811-04017

- **c. CIK number of Registrant:** 0000745968

- **d. LEI of Registrant:** 254900QLYYRKC7NVWP04

- **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 Kaufmann Small Cap Fund

- **b. EDGAR series identifier (if any):** S000009730

- **c. LEI of Series:** F9HYTNU10JO6FBUXPG81

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $4842080060.50

**Total Liabilities:** $134607280.16

**Net Assets:** $4707472780.34

**Cash Not Reported:** $148108.55

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000026733 | 2.07%                | -4.22%               | 9.35%                |
| Class ID C000026734 | 2.02%                | -4.28%               | 9.31%                |
| Class ID C000026735 | 2.02%                | -4.28%               | 9.31%                |
| Class ID C000026736 | 2.08%                | -4.24%               | 9.37%                |
| Class ID C000164583 | 2.12%                | -4.20%               | 9.41%                |
| Class ID C000195257 | 2.09%                | -4.18%               | 9.41%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $13178129.51             | $81767751.80                               |
| Month 2  | $3772720.30              | $-203108669.01                             |
| Month 3  | $32490793.83             | $367598367.50                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Akero Therapeutics Inc                                      | Akero Therapeutics Inc                               | CUSIP: 00973Y108<br>LEI: 549300SI3KG74LBE2955 | Long             | EC               | CORP              | US        |     58000 | NS      | $2871000.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA AKOUOS INC                                           | CONTRA AKOUOS INC                                    | CUSIP: 009CVR036<br>LEI: N/A                  | N/A              | DE               |  | US        |   1950000 | NS      | $1540500.00   | 0.03%             |  |  |  | No            |                  3 | On Loan: —       |
| AFC Gamma Inc                                               | AFC Gamma Inc                                        | CUSIP: 00109K105<br>LEI: 5493005G0MGS3E0E7218 | Long             | EC               |  | US        |    784538 | NS      | $12317246.60  | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| aTyr Pharma Inc                                             | aTyr Pharma Inc                                      | CUSIP: 002120202<br>LEI: 529900ENQUXMC5EBKO36 | Long             | EC               | CORP              | US        |   2900000 | NS      | $6670000.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphastar Pharmaceuticals Inc                               | Amphastar Pharmaceuticals Inc                        | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |   1999600 | NS      | $60507896.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcturus Therapeutics Holdings Inc                          | Arcturus Therapeutics Holdings Inc                   | CUSIP: 03969T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2188884 | NS      | $46251118.92  | 0.98%             |  |  |  | No            |                  1 | On Loan: —       |
| Argenx SE                                                   | Argenx SE                                            | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |    139000 | NS      | $53132750.00  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Aris Water Solution Inc                                     | Aris Water Solution Inc                              | CUSIP: 04041L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1855379 | NS      | $28739820.71  | 0.61%             |  |  |  | No            |                  1 | On Loan: —       |
| Alector Inc                                                 | Alector Inc                                          | CUSIP: 014442107<br>LEI: 549300Z8RQOIY1JMHC25 | Long             | EC               | CORP              | US        |   1006948 | NS      | $8881281.36   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Alteryx Inc                                                 | Alteryx Inc                                          | CUSIP: 02156B103<br>LEI: 549300XWZG0JHL7I0827 | Long             | EC               | CORP              | US        |    750000 | NS      | $41617500.00  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Avidity Biosciences Inc                                     | Avidity Biosciences Inc                              | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1111700 | NS      | $26347290.00  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutions Inc                        | Bright Horizons Family Solutions Inc                 | CUSIP: 109194100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $7678000.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AnaptysBio Inc                                              | AnaptysBio Inc                                       | CUSIP: 032724106<br>LEI: 529900HH4WQT03IG1A12 | Long             | EC               | CORP              | US        |    752020 | NS      | $18717777.80  | 0.40%             |  |  |  | No            |                  1 | On Loan: —       |
| Blackline Inc                                               | Blackline Inc                                        | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Long             | EC               | CORP              | US        |    397500 | NS      | $28540500.00  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                                                  | Cactus Inc                                           | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |    542400 | NS      | $29349264.00  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories International Inc                | Charles River Laboratories International Inc         | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |    120000 | NS      | $29190000.00  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Therapeutics Inc                                    | Century Therapeutics Inc                             | CUSIP: 15673T100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    293000 | NS      | $1339010.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| CONTRA CLEMENTIA PHARM F                                    | CONTRA CLEMENTIA PHARM F COMMON STOCK                | CUSIP: 185CVR016<br>LEI: N/A                  | N/A              | DE               |  | CA        |    190200 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Chart Industries Inc                                        | Chart Industries Inc                                 | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |    171300 | NS      | $22950774.00  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Chinook Therapeutics Inc                                    | Chinook Therapeutics Inc                             | CUSIP: 16961L106<br>LEI: 549300X0O3003W5QYQ48 | Long             | EC               | CORP              | US        |    405000 | NS      | $10234350.00  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynavax Technologies Corp                                   | Dynavax Technologies Corp                            | CUSIP: 268158201<br>LEI: 549300T5URIXWDILX594 | Long             | EC               | CORP              | US        |   5848585 | NS      | $66556897.30  | 1.41%             |  |  |  | No            |                  1 | On Loan: —       |
| EDAP TMS SA                                                 | EDAP TMS SA                                          | CUSIP: 268311107<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |    200000 | NS      | $2200000.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Choice Hotels International Inc                             | Choice Hotels International Inc                      | CUSIP: 169905106<br>LEI: 5493003CYRY5RFGTIR97 | Long             | EC               | CORP              | US        |    540000 | NS      | $66360600.00  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc                                     | Comfort Systems USA Inc                              | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |    345000 | NS      | $41758800.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Everbridge Inc                                              | Everbridge Inc                                       | CUSIP: 29978A104<br>LEI: 549300WCY0UMR64ATW81 | Long             | EC               | CORP              | US        |    150000 | NS      | $4794000.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Evotec SE                                                   | Evotec SE                                            | CUSIP: 30050E105<br>LEI: 529900F9KI6OYITO9B12 | Long             | EC               | CORP              | DE        |    750000 | NS      | $7395000.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ContraFect Corp                                             | ContraFect Corp                                      | CUSIP: 212326151<br>LEI: 549300JM7MIET5QG2X15 | N/A              | DE               |  | US        |   2247188 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CoStar Group Inc                                            | CoStar Group Inc                                     | CUSIP: 22160N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    452000 | NS      | $35210800.00  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunocore Holdings PLC                                     | Immunocore Holdings PLC                              | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |     74361 | NS      | $4556098.47   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Intellia Therapeutics Inc                                   | Intellia Therapeutics Inc                            | CUSIP: 45826J105<br>LEI: 5493002T5BCPE5DZC723 | Long             | EC               | CORP              | US        |   1000000 | NS      | $42440000.00  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupa Software Inc                                          | Coupa Software Inc                                   | CUSIP: 22266L106<br>LEI: 549300Q95ICR2GFL2K37 | Long             | EC               | CORP              | US        |    400000 | NS      | $31968000.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                                                  | DexCom Inc                                           | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |    358220 | NS      | $38361779.80  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Domo Inc                                                    | DOMO INC   CLASS B COMMON STOCK USD.01               | CUSIP: 257554105<br>LEI: 549300X57AGT5JULJ761 | Long             | EC               | CORP              | US        |    700000 | NS      | $10857000.00  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                                              | Dutch Bros Inc                                       | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    300000 | NS      | $11433000.00  | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Endava PLC                                                  | Endava PLC                                           | CUSIP: 29260V105<br>LEI: 213800JJ6CRPCWCQVZ25 | Long             | EC               | CORP              | GB        |    390000 | NS      | $34269300.00  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Etsy Inc                                                    | Etsy Inc                                             | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Long             | EC               | CORP              | US        |    245000 | NS      | $33707100.00  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                                        | Lamar Advertising Co                                 | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               |  | US        |    445000 | NS      | $47410300.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co                                        | Matador Resources Co                                 | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |   1035000 | NS      | $68475600.00  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| European Wax Center Inc                                     | European Wax Center Inc                              | CUSIP: 29882P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1184789 | NS      | $22321424.76  | 0.47%             |  |  |  | No            |                  1 | On Loan: —       |
| Evoqua Water Technologies Corp                              | Evoqua Water Technologies Corp                       | CUSIP: 30057T105<br>LEI: 529900YQAOMEZRGRRP43 | Long             | EC               | CORP              | US        |    737900 | NS      | $35795529.00  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| First Watch Restaurant Group Inc                            | First Watch Restaurant Group Inc                     | CUSIP: 33748L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1580300 | NS      | $25600860.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| FIVERR INTERNATIONAL LTD                                    | Fiverr International Ltd                             | CUSIP: 33835LAA3<br>LEI: 549300Z8OREY6THCPF67 | Long             | DBT              | CORP              | IL        |   3000000 | PA      | $2567799.00   | 0.05%             | 2025-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Montrose Environmental Group Inc                            | Montrose Environmental Group Inc                     | CUSIP: 615111101<br>LEI: 254900ASI8K3LUB8Q958 | Long             | EC               | CORP              | US        |   1147800 | NS      | $62164848.00  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc                                                    | Okta Inc                                             | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |    300000 | NS      | $22083000.00  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| GMS Inc                                                     | GMS Inc                                              | CUSIP: 36251C103<br>LEI: 52990057RENOQO4U0D72 | Long             | EC               | CORP              | US        |    200800 | NS      | $11911456.00  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| GXO Logistics Inc                                           | GXO Logistics Inc                                    | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |    765000 | NS      | $40032450.00  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc                                          | Planet Fitness Inc                                   | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |   1010000 | NS      | $85496500.00  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Rapid7 Inc                                                  | Rapid7 Inc                                           | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Long             | EC               | CORP              | US        |    300000 | NS      | $11961000.00  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc                           | Gaming and Leisure Properties Inc                    | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               |  | US        |    770000 | NS      | $41241200.00  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardant Health Inc                                         | Guardant Health Inc                                  | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |    285800 | NS      | $8982694.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Corp                                                 | Rogers Corp                                          | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |     68900 | NS      | $9617751.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties Inc                            | Ryman Hospitality Properties Inc                     | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               |  | US        |    750000 | NS      | $69667500.00  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp                                                | Insulet Corp                                         | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |     72500 | NS      | $20830700.00  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Livent Corp                                                 | Livent Corp                                          | CUSIP: 53814L108<br>LEI: 254900OOLQ2VNMZTJL47 | Long             | EC               | CORP              | US        |    968000 | NS      | $25090560.00  | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| Mercury Systems Inc                                         | Mercury Systems Inc                                  | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |    440600 | NS      | $22023391.00  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Institutional Prime Value Obligations Fund | Federated Institutional Prime Value Obligations Fund | CUSIP: 60934N583<br>LEI: 254900OXLDDVEP8MMK94 | Long             | EC               | RF                | US        | 547117168 | NS      | $547117168.24 | 11.62%            |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce Inc                                            | SPS Commerce Inc                                     | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |     35000 | NS      | $4762800.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SCYNEXIS Inc                                                | SCYNEXIS Inc                                         | CUSIP: 811292200<br>LEI: 529900XBHFGMNTU70154 | Long             | EC               | CORP              | US        |   3593000 | NS      | $6593155.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Morphic Holding Inc                                         | Morphic Holding Inc                                  | CUSIP: 61775R105<br>LEI: 549300RWWOUFLHTY1224 | Long             | EC               | CORP              | US        |    425000 | NS      | $13910250.00  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Trust                           | National Storage Affiliates Trust                    | CUSIP: 637870106<br>LEI: N/A                  | Long             | EC               |  | US        |    400000 | NS      | $16320000.00  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Seres Therapeutics Inc                                      | Seres Therapeutics Inc                               | CUSIP: 81750R102<br>LEI: 549300GMXBE5NUWISF13 | Long             | EC               | CORP              | US        |   4993032 | NS      | $27311885.04  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                                                 | Shopify Inc                                          | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |    343000 | NS      | $16899610.00  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| SilverCrest Metals Inc                                      | SilverCrest Metals Inc                               | CUSIP: 828363101<br>LEI: 549300M4CUMXUHSXYQ10 | Long             | EC               | CORP              | CA        |   1350000 | NS      | $8815500.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Verve Therapeutics Inc                                      | Verve Therapeutics Inc                               | CUSIP: 92539P101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    934389 | NS      | $21257349.75  | 0.45%             |  |  |  | No            |                  1 | On Loan: —       |
| National Vision Holdings Inc                                | National Vision Holdings Inc                         | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |    582800 | NS      | $23953080.00  | 0.51%             |  |  |  | No            |                  1 | On Loan: —       |
| Novanta Inc                                                 | Novanta Inc                                          | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    392200 | NS      | $63328534.00  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| REGULUS THERAPEUTICS, INC.                                  | REGULUS THERAPEUTICS, INC.                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1378500 | NS      | $1985040.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO Inc                                                     | XPO Logistics Inc                                    | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |    391000 | NS      | $15585260.00  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc                                                | Penumbra Inc                                         | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |    100000 | NS      | $25041000.00  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Privia Health Group Inc                                     | Privia Health Group Inc                              | CUSIP: 74276R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    142400 | NS      | $3850496.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SCYNEXIS INC WARRANT                                        | SCYNEXIS INC WARRANT EXP 01/01/2099                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |   1441000 | NS      | $2644235.00   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Sportradar Holding AG                                       | Sportradar Holding AG                                | CUSIP: 000000000<br>LEI: 39120099GMDR0HYDS163 | Long             | EC               | CORP              | CH        |   1400000 | NS      | $17570000.00  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Protalix BioTherapeutics Inc                                | Protalix BioTherapeutics Inc                         | CUSIP: 74365A309<br>LEI: 549300SDVB3GP4XDFM60 | Long             | EC               | CORP              | US        |      5761 | NS      | $8987.16      | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Sarepta Therapeutics Inc                                    | Sarepta Therapeutics Inc                             | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |    336300 | NS      | $42027411.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Scotts Miracle-Gro Co/The                                   | Scotts Miracle-Gro Co/The                            | CUSIP: 810186106<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | EC               | CORP              | US        |    195000 | NS      | $14077050.00  | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Tremor International Ltd                                    | Tremor International Ltd                             | CUSIP: 89484T104<br>LEI: 213800ZNSR7AIJZ2J557 | Long             | EC               | CORP              | IL        |    980100 | NS      | $7987815.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc                                      | Tyler Technologies Inc                               | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |     46900 | NS      | $15137913.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Upwork Inc                                                  | Upwork Inc                                           | CUSIP: 91688F104<br>LEI: 5493004QJ6WWBXVE2S70 | Long             | EC               | CORP              | US        |   1200000 | NS      | $15552000.00  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiverr International Ltd                                    | Fiverr International Ltd                             | CUSIP: 000000000<br>LEI: 549300Z8OREY6THCPF67 | Long             | EC               | CORP              | IL        |    255000 | NS      | $9457950.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MoonLake Immunotherapeutics                                 | MoonLake Immunotherapeutics                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    322950 | NS      | $3859252.50   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| UPWORK INC                                                  | Upwork Inc                                           | CUSIP: 91688FAB0<br>LEI: 5493004QJ6WWBXVE2S70 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2368752.00   | 0.05%             | 2026-08-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Vail Resorts Inc                                            | Vail Resorts Inc                                     | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |    166000 | NS      | $43548440.00  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                                           | Veeva Systems Inc                                    | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |    187800 | NS      | $32029290.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| IMMATICS N.V. RESTICTED                                     | IMMATICS N.V.   RESTICTED                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    247016 | NS      | $2003299.76   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ORCHARD THERAPEUTICS PLC                                    | ORCHARD THERAPEUTICS PLC PIPE DEAL                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    660900 | NS      | $367856.94    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RESERVOIR MEDIA PIPE                                        | RESERVOIR MEDIA PIPE                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1500000 | NS      | $10560000.00  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Westlake Corp                                               | Westlake Chemical Corp                               | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |    270000 | NS      | $33142500.00  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Zentalis Pharmaceuticals Inc                                | Zentalis Pharmaceuticals Inc                         | CUSIP: 98943L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    800110 | NS      | $18882596.00  | 0.40%             |  |  |  | No            |                  1 | On Loan: —       |
| Scynexis, Inc.                                              | Scynexis, Inc. Exp 8Mar19                            | CUSIP: 000000000<br>LEI: 529900XBHFGMNTU70154 | N/A              | DE               |  | US        |     15480 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Catabasis Pharmaceuticals Inc                               | Catabasis Pharmaceuticals Wts Catb Wt 6.25           | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               |  | US        |    129500 | NS      | $26081.30     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Academy Sports & Outdoors Inc                               | Academy Sports & Outdoors Inc                        | CUSIP: 00402L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1025000 | NS      | $59880500.00  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage Systems Inc                               | Advanced Drainage Systems Inc                        | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |    455012 | NS      | $45883410.08  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                                                     | Allegheny Technologies Inc                           | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |    880000 | NS      | $32023200.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc                                    | Allegro MicroSystems Inc                             | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1450000 | NS      | $55346500.00  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| REZOLUTE INC WARRANT                                        | REZOLUTE INC   WARRANT STRIKE PRICE 0.39             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |    193334 | NS      | $152443.86    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REZOLUTE, INC                                               | REZOLUTE, INC                                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |     64800 | NS      | $166536.00    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corp                                        | Ares Management Corp                                 | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |    625000 | NS      | $51868750.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                                  | Americold Realty Trust                               | CUSIP: 03064D108<br>LEI: 549300R7N1V5YV8MWH02 | Long             | EC               |  | US        |   1000000 | NS      | $31410000.00  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Amylyx Pharmaceuticals Inc                                  | Amylyx Pharmaceuticals Inc                           | CUSIP: 03237H101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    731462 | NS      | $28665995.78  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Artisan Partners Asset Management Inc                       | Artisan Partners Asset Management Inc                | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |    925000 | NS      | $34058500.00  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Aerogels Inc                                          | Aspen Aerogels Inc                                   | CUSIP: 04523Y105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    750000 | NS      | $7875000.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| REZOLUTE INC                                                | REZOLUTE INC                                         | CUSIP: 000000000<br>LEI: 549300T05L48T72P2G08 | N/A              | DE               |  | US        |   1685800 | NS      | $4332506.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Galapagos NV                                                | Galapagos NV                                         | CUSIP: 000000000<br>LEI: 549300QKJ78IY0IOV655 | Long             | EC               | CORP              | BE        |    645000 | NS      | $28432859.47  | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| FinecoBank Banca Fineco SpA                                 | FinecoBank Banca Fineco SpA                          | CUSIP: 000000000<br>LEI: 549300L7YCATGO57ZE10 | Long             | EC               | CORP              | IT        |   2265000 | NS      | $40597462.42  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Infrastrutture Wireless Italiane SpA                        | Infrastrutture Wireless Italiane SpA                 | CUSIP: 000000000<br>LEI: 81560066183FE361C071 | Long             | EC               | CORP              | IT        |   2500000 | NS      | $27408326.05  | 0.58%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Chefs' Warehouse Inc/The                                    | Chefs' Warehouse Inc/The                             | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |     36148 | NS      | $1381938.04   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chico's FAS Inc                                             | Chico's FAS Inc                                      | CUSIP: 168615102<br>LEI: 5299003ESGN5T1MFXY13 | Long             | EC               | CORP              | US        |   1289573 | NS      | $6796049.71   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Annexon Inc                                                 | Annexon Inc                                          | CUSIP: 03589W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1000000 | NS      | $7140000.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Apellis Pharmaceuticals Inc                                 | Apellis Pharmaceuticals Inc                          | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |    275000 | NS      | $14500750.00  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| STEADYMED LTD CVR CONTRA                                    | STEADYMED LTD CVR CONTRA COMMON STOCK                | CUSIP: M84CVR105<br>LEI: N/A                  | N/A              | DE               |  | IL        |    822570 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Argenx SE                                                   | Argenx SE                                            | CUSIP: 000000000<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |    425914 | NS      | $161915895.12 | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CryoPort Inc                                                | CryoPort Inc                                         | CUSIP: 229050307<br>LEI: 9845004D8538BT8JF626 | Long             | EC               | CORP              | US        |    383170 | NS      | $8747771.10   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics Inc                                            | Cytokinetics Inc                                     | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |    164500 | NS      | $6987960.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Bowlero Corp                                                | Bowlero Corp                                         | CUSIP: 10258P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200000 | NS      | $2750000.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Cerevel Therapeutics Holdings Inc                           | Cerevel Therapeutics Holdings                        | CUSIP: 15678U128<br>LEI: 254900RJNIRS9COSQR41 | Long             | EC               | CORP              | US        |   1600000 | NS      | $54640000.00  | 1.16%             |  |  |  | Yes           |                  1 | On Loan: —       |
| Easterly Government Properties Inc                          | Easterly Government Properties Inc                   | CUSIP: 27616P103<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               |  | US        |   1825000 | NS      | $29638000.00  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| 89bio Inc                                                   | 89bio Inc                                            | CUSIP: 282559103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8710 | NS      | $101732.80    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CrossFirst Bankshares Inc                                   | CrossFirst Bankshares Inc                            | CUSIP: 22766M109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1889026 | NS      | $25501851.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CRYOPORT INC                                                | CryoPort Inc                                         | CUSIP: 229050AC3<br>LEI: 9845004D8538BT8JF626 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2391198.00   | 0.05%             | 2026-12-01      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| Merus NV                                                    | Merus NV                                             | CUSIP: 000000000<br>LEI: 549300W8GPUWU8QNU293 | Long             | EC               | CORP              | NL        |   1644882 | NS      | $25660159.20  | 0.55%             |  |  |  | No            |                  1 | On Loan: —       |
| Immatics NV                                                 | Immatics NV                                          | CUSIP: 000000000<br>LEI: 984500DC691EZ96AF394 | Long             | EC               | CORP              | NL        |    404786 | NS      | $3282814.46   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc                                  | Floor & Decor Holdings Inc                           | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |    400000 | NS      | $36308000.00  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Fusion Pharmaceuticals Inc                                  | Fusion Pharmaceuticals Inc                           | CUSIP: 36118A100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |   2510000 | NS      | $7605300.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Custom Truck One Source Inc                                 | Custom Truck One Source Inc                          | CUSIP: 23204X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    734720 | NS      | $5201817.60   | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Denali Therapeutics Inc                                     | Denali Therapeutics Inc                              | CUSIP: 24823R105<br>LEI: 549300ZTQ2HO18L3Q830 | Long             | EC               | CORP              | US        |    650000 | NS      | $19675500.00  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Immatics NV                                                 | Immatics NV                                          | CUSIP: 000000000<br>LEI: 984500DC691EZ96AF394 | N/A              | DE               |  | NL        |    200000 | NS      | $494000.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CASI Pharmaceuticals Inc                                    | CASI Pharmaceuticals Inc                             | CUSIP: 000000000<br>LEI: 549300RYDG4U21PJZ263 | Long             | EC               | CORP              | US        |    677863 | NS      | $1382840.52   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Docebo Inc                                                  | Docebo Inc                                           | CUSIP: 25609L105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    549449 | NS      | $20928512.41  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Duckhorn Portfolio Inc/The                                  | Duckhorn Portfolio Inc/The                           | CUSIP: 26414D106<br>LEI: 2549003BCT5CJSKJ9X51 | Long             | EC               | CORP              | US        |   1200000 | NS      | $19416000.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Herc Holdings Inc                                           | Herc Holdings Inc                                    | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Long             | EC               | CORP              | US        |    271700 | NS      | $42200444.00  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc                                 | Inspire Medical Systems Inc                          | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |    240000 | NS      | $60734400.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Lovesac Co/The                                              | Lovesac Co/The                                       | CUSIP: 54738L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    625000 | NS      | $16087500.00  | 0.34%             |  |  |  | No            |                  1 | On Loan: —       |
| Mister Car Wash Inc                                         | Mister Car Wash Inc                                  | CUSIP: 60646V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    950000 | NS      | $9756500.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Envestnet Inc                                               | Envestnet Inc                                        | CUSIP: 29404K106<br>LEI: 549300HLWZ5OKIDM8737 | Long             | EC               | CORP              | US        |    350000 | NS      | $22750000.00  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Frequency Therapeutics Inc                                  | Frequency Therapeutics Inc                           | CUSIP: 35803L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1000000 | NS      | $4540000.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings Inc                                             | Q2 Holdings Inc                                      | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |    495000 | NS      | $16196400.00  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corp                                               | Repligen Corp                                        | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |    255000 | NS      | $47251500.00  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ShotSpotter Inc                                             | ShotSpotter Inc                                      | CUSIP: 82536T107<br>LEI: 549300MQV8SOWVNVZ667 | Long             | EC               | CORP              | US        |   1316094 | NS      | $50735423.70  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyward Specialty Insurance Group Inc                       | Skyward Specialty Insurance Group Inc                | CUSIP: 830940102<br>LEI: 549300GXGXJG0YH4VN21 | Long             | EC               | CORP              | US        |    200000 | NS      | $3702000.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Gracell Biotechnologies Inc                                 | Gracell Biotechnologies Inc                          | CUSIP: 38406L103<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    600338 | NS      | $1290726.70   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Grocery Outlet Holding Corp                                 | Grocery Outlet Holding Corp                          | CUSIP: 39874R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    850200 | NS      | $25837578.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Smartsheet Inc                                              | Smartsheet Inc                                       | CUSIP: 83200N103<br>LEI: 549300N9WF42OK9VL589 | Long             | EC               | CORP              | US        |    800000 | NS      | $34568000.00  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceutical Inc                               | Ultragenyx Pharmaceutical Inc                        | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |   1280000 | NS      | $58022400.00  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                                         | VICI Properties Inc                                  | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |   1425000 | NS      | $48706500.00  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vital Farms Inc                                             | Vital Farms Inc                                      | CUSIP: 92847W103<br>LEI: 549300S6NYY7ER3XOT61 | Long             | EC               | CORP              | US        |    770000 | NS      | $13536600.00  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Lane Inc                                           | Hamilton Lane Inc                                    | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               | CORP              | US        |    865000 | NS      | $67348900.00  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Ideaya Biosciences Inc                                      | Ideaya Biosciences Inc                               | CUSIP: 45166A102<br>LEI: 549300ULW08F62IJML11 | Long             | EC               | CORP              | US        |   1607500 | NS      | $27375725.00  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Legend Biotech Corp                                         | Legend Biotech Corp                                  | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | KY        |   1162500 | NS      | $58706250.00  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Group Inc                                               | MYR Group Inc                                        | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |    149185 | NS      | $14778266.10  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAPHITE BIO INC SERIES                                     | GRAPHITE BIO INC SERIES PRIVATE DEAL                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    406308 | NS      | $873562.20    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CTOS LLC                                                    | CTOS LLC PIPE DEAL RESTRICTED                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4000000 | NS      | $28320000.00  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CEREVEL THERAPEUTICS PIPE                                   | CEREVEL THERAPEUTICS PIPE CEREVEL THERAPEUTICS       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    400000 | NS      | $13660000.00  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                                                | Wingstop Inc                                         | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |    500000 | NS      | $79235000.00  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Xponential Fitness Inc                                      | Xponential Fitness Inc                               | CUSIP: 98422X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1740000 | NS      | $47815200.00  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| YETI Holdings Inc                                           | YETI Holdings Inc                                    | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |    804700 | NS      | $36018372.00  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Catabasis Pharmaceuticals Inc                               | Catabasis Pharmaceuticals Call Exp 22Jun22           | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               |  | US        |    176600 | NS      | $105.96       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SCYNEXIS INC WARRANT                                        | SCYNEXIS INC WARRANT EXP 05/21/2024                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |    720500 | NS      | $48129.40     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Minerva Neurosciences Inc                                   | Minerva Neurosciences Inc                            | CUSIP: 603380205<br>LEI: 54930017PANCHC5LYH79 | Long             | EC               | CORP              | US        |    534050 | NS      | $1276379.50   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                                                  | Natera Inc                                           | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    185000 | NS      | $7942050.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Moncler SpA                                                 | Moncler SpA                                          | CUSIP: 000000000<br>LEI: 815600EBD7FB00525B20 | Long             | EC               | CORP              | IT        |    271200 | NS      | $16990549.86  | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| NAGACORP LTD                                                | NagaCorp Ltd                                         | CUSIP: 000000000<br>LEI: 549300MMNKN0RBJELS20 | Long             | DBT              | CORP              | KY        |  13000000 | PA      | $12090000.00  | 0.26%             | 2024-07-06      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| New Fortress Energy Inc                                     | NEW FORTRESS ENERGY LLC COMMON STOCK                 | CUSIP: 644393100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1712882 | NS      | $66442692.78  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| P10 Inc                                                     | P10 Inc                                              | CUSIP: 69376K106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3181933 | NS      | $35955842.90  | 0.76%             |  |  |  | No            |                  1 | On Loan: —       |
| Physicians Realty Trust                                     | Physicians Realty Trust                              | CUSIP: 71943U104<br>LEI: 549300ITOVH0OY7PZC34 | Long             | EC               |  | US        |   1475000 | NS      | $23393500.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Prometheus Biosciences Inc                                  | Prometheus Biosciences Inc                           | CUSIP: 74349U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    229325 | NS      | $26065079.50  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolve Group Inc                                           | Revolve Group Inc                                    | CUSIP: 76156B107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    494500 | NS      | $14113030.00  | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Rezolute Inc                                                | Rezolute Inc                                         | CUSIP: 76200L309<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3310800 | NS      | $8508756.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals Inc                                  | Rhythm Pharmaceuticals Inc                           | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |   1855626 | NS      | $50751371.10  | 1.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Six Flags Entertainment Corp                                | Six Flags Entertainment Corp                         | CUSIP: 83001A102<br>LEI: 549300JYTDUAA4JQ3717 | Long             | EC               | CORP              | US        |    500000 | NS      | $13425000.00  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc                                         | STAG Industrial Inc                                  | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               |  | US        |   1225000 | NS      | $43610000.00  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| StepStone Group Inc                                         | StepStone Group Inc                                  | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1179109 | NS      | $34418191.71  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                                                 | Trex Co Inc                                          | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    209500 | NS      | $11044840.00  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| REGULUS THERAPEUTICS,INC                                    | REGULUS THERAPEUTICS,INC                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1513500 | NS      | $2179440.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTURY THERAPEUTICS INC.                                   | CENTURY THERAPEUTICS INC. COMMON                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    338980 | NS      | $1549138.60   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LARONDE, INC                                                | LARONDE, INC                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    188702 | NS      | $4092021.74   | 0.09%             |  |  |  | No            |                  3 | On Loan: No      |
| CEQUR SA                                                    | FED HERMES KAUFMANN SM CAP CEQUR SA                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |   1957807 | NS      | $10922959.18  | 0.23%             |  |  |  | No            |                  3 | On Loan: No      |
| SCYNEXIS INC WARRANTS                                       | SCYNEXIS INC WARRANTS                                | CUSIP: 000000000<br>LEI: 529900XBHFGMNTU70154 | N/A              | DE               |  | US        |    165355 | NS      | $179740.89    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Seeing Machines Ltd                                         | Seeing Machines Ltd                                  | CUSIP: 000000000<br>LEI: 549300LNJJPZ2SU7A197 | Long             | EC               | CORP              | AU        | 391498168 | NS      | $33924123.34  | 0.72%             |  |  |  | No            |                  2 | On Loan: —       |
| CRISPR Therapeutics AG                                      | CRISPR Therapeutics AG                               | CUSIP: 000000000<br>LEI: 506700O6IRRIQLT3W370 | Long             | EC               | CORP              | CH        |    308000 | NS      | $15714160.00  | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Camtek Ltd/Israel                                           | Camtek Ltd/Israel                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |    695000 | NS      | $18063050.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| NagaCorp Ltd                                                | NagaCorp Ltd                                         | CUSIP: 000000000<br>LEI: 549300MMNKN0RBJELS20 | Long             | EC               | CORP              | KY        |  32404127 | NS      | $29491844.75  | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| FEDERATED HERMES INC                                        | Federated Government Obligations Fund                | CUSIP: 60934N104<br>LEI: 254900VAJ9169N7JRF45 | Long             | EC               | RF                | US        |  45418389 | PA      | $45418389.00  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-23

**Name of Applicant:** Federated Hermes Equity Funds

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes Equity Funds

**Title:** Chief Compliance Officer