FEDERATED HERMES, INC.

Federated Hermes held $61.5B across 3,984 positions in a broadly diversified, low-concentration book — the top name, NVIDIA, is just 2.6% of assets, followed by Alphabet, Apple, Microsoft and AbbVie. The Q1 activity tilted toward income, infrastructure and value, with 22 positions increased against 13 trimmed. The largest adds were Paychex (+$272M), GE Vernova (+$264M), Chevron (+$256M), Verizon (+$228M) and Fiserv (+$189M). The firm trimmed Microsoft (-$362M), ExxonMobil (-$262M), Amgen and Amazon. New positions in American Tower, CME, Lululemon, Vertiv and Amcor; exits in Johnson & Johnson, Eli Lilly, Deckers and AEP. Assets rose from $59.9B to $61.5B.