Federated Hermes Global Allocation Fund

PORTFOLIO AS OF JUNE 30, 2021 CURRENT NET ASSETS - $421,330,447

Shares, Principal Amount or Contracts Value COMMON STOCKS—67.1% Communication Services—5.0% 14,983 Activision Blizzard, Inc. $ 1,429,978 661,541 1 Alibaba Pictures Group Ltd. 92,022 1,082 1 Alphabet, Inc., Class A 2,642,017 1,233 1 Alphabet, Inc., Class C 3,090,293 30,873 America Movil S.A.B. de C.V. 23,231 66,629 PLC 584,321 958 1 Baidu, Inc., ADR 195,336 3,294 1 CarGurus, Inc. 86,402 9,884 1 Literature Ltd. 109,929 417,966 China Tower Corp Ltd. 57,600 1,043 Cyfrowy Polsat, S.A. 8,192 1 1 DouYu International Holdings Ltd., ADR 7 3,980 1 Facebook, Inc. 1,383,886 25,300 Information Technology Co. Ltd. 36,845 5,739 1 GOGO, Inc. 65,310 8,031 Gray Television, Inc. 187,925 2,659 Hellenic Organization SA 44,633 1 1 HUYA, Inc., ADR 18 595 IDT Corp. 21,991 1,638 1 Info Edge India Ltd. 108,749 1 1 iQIYI, Inc., ADR 16 503 Corp. 72,791 3,796 Konami Corp. 227,784 6,772 LG Uplus Corp. 92,318 2,995 1 Loral Space & Communications Ltd. 116,356 1 1,2 Mail.ru Group Ltd., GDR 23 11,669 Mobile Telesystems, ADR 108,055 1 1 Momo, Inc., ADR 15 6,248 MTN Group Ltd. 45,147 5,578 NetEase, Inc. 128,682 12,329 New York Times Co., Class A 536,928 593 NHN Corp. 219,896 483 Nintendo Co. Ltd. 281,029 14,183 Omnicom Group, Inc. 1,134,498 7,958 1 Orbcomm, Inc. 89,448 2,167 1 Pinterest, Inc. 171,085 23,714 Proximus 458,199 15,300 Quebecor, Inc., Class B 408,049 10,720 Scout24 Holding GmbH 904,866 473 SK Telecom Co. Ltd. 134,440 1,349 Square Enix Holdings Co. Ltd. 66,929 5,725 1 Take-Two Interactive Software, Inc. 1,013,439 170 1 TechTarget, Inc. 13,173 661 Tegna, Inc. 12,400 276,681 Telefonica Deutschland Holding AG 730,116 8,092 Telenor ASA 136,542

FederatedInvestors.com Federated Securities Corp., Distributor © 2021 Federated Hermes, Inc. Shares, Principal Amount or Contracts Value 25,496 Tencent Holdings Ltd. $ 1,917,787 41,835 TIM S.A./Brazil 96,980 2,394 Toho Co. Ltd. 98,669 829,900 True Corp. PCL 82,420 2,178 1 U.S. Cellular Corp. 79,083 13,213 Group Ltd. 119,131 1 1 Vonage Holdings Corp. 14 2,563 1 Yandex N.V. 181,465 222 YY, Inc., ADR 14,645 3,142 1 Zillow Group, Inc. 384,989 71,474 1 Zynga, Inc. 759,769 TOTAL 21,005,861 Consumer Discretionary—9.0% 852 1 2U, Inc. 35,503 9,026 ABC-Mart, Inc. 515,746 1,576 1 Academy Sports and Outdoors, Inc. 64,994 884 1 Adtalem Global Education, Inc. 31,506 60,708 1 Alibaba Group Holding Ltd. 1,720,028 1,552 1 Amazon.com, Inc. 5,339,128 7,824 American Outdoor Brands Corp. 271,493 1 1 American Public Education, Inc. 28 30,504 Aramark 1,136,274 416 1 Asbury Automotive Group, Inc. 71,290 3,334 Balkrishna Industries Ltd. 100,914 17,914 PLC 1,140,313 1,681 Big Lots, Inc. 110,963 1 1 Bluegreen Vacations Holding Corp. 18 2,410 BorgWarner, Inc. 116,981 3,297 1 Boyd Gaming Corp. 202,733 7,070 BYD Co. Ltd. 211,455 3,700 BYD Co. Ltd. 143,729 6,299 Canadian Tire Corp. Ltd. 996,783 3,175 Carriage Services, Inc. 117,380 11,530 Casio Computer Co. Ltd. 192,670 20,068 China Meidong Auto Holdings Ltd. 109,460 6,600 Co. Ltd. 26,844 1,037 1 Container Store Group, Inc. 13,522 767 Coway Co. Ltd. 53,606 2,222 1 CROCs, Inc. 258,907 14,281 D. R. Horton, Inc. 1,290,574 2,688 1 Delivery Hero SE 355,151 1,921 1 Dine Brands Global, Inc. 171,449 26,194 Co. Ltd. 23,548 2,219 eBay, Inc. 155,796 3,300 Ecovacs Robotics Co. Ltd. 116,485 1,174 1 Etsy, Inc. 241,656 1 Ford Otomotiv Sanayi A.S. 20 16,091 Fuyao Glass Industry Group Co. Ltd. 113,368 42,804 Gentex Corp. 1,416,384 6,748 Gildan Activewear, Inc. 248,994 590,777 1 Gome Electrical Appliances Holdings Ltd. 76,089 36,428 Great Wall Motor Company Limited 117,618 2,785 1 Green Brick Partners, Inc. 63,331 676 Group 1 Automotive, Inc. 104,395 29,400 1 Haier Smart Home Co. Ltd. 102,621 2,304 Co. Ltd. 105,797 1 1 HelloFresh SE 97 11,543 Hennes & Mauritz AB, Class B 273,918 181 Hermes International 263,907

FGAF-2 Shares, Principal Amount or Contracts Value 852 Hibbett, Inc. $ 76,365 2,998 Home Depot, Inc. 956,032 191 Hyundai Motor Co. 40,631 8,748 Iida Group Holdings Co. Ltd. 225,108 7,828 1 International Game Technology PLC 187,559 1,351 Jack in the Box, Inc. 150,555 5,996 1 JD.com, Inc. 239,019 398 Johnson Outdoors, Inc., Class A 48,158 2,435 Jubilant Foodworks Ltd. 101,131 646 Kering 565,296 1,516 Corp. 120,650 5,117 Koito Manufacturing Co. Ltd. 318,106 10,731 La Francaise des Jeux SAEM 631,054 1,273 LCI Industries 167,298 1,896 Lear Corp. 332,331 1,586 Lennar Corp., Class A 157,569 3,215 Lennar Corp., Class B 261,862 1,066 LG Electronics, Inc. 154,696 299 Lithia Motors, Inc., Class A 102,748 3,284 Lowe’s Cos., Inc. 636,997 1 1 Lumber Liquidators, Inc. 21 2,328 LVMH Moet Hennessy Louis Vuitton SA 1,827,869 438 M.D.C. Holdings, Inc. 22,163 13,836 Magna International, Inc. 1,281,024 1,303 1 MarineMax, Inc. 63,508 12,955 1 Meituan 535,062 1,096 1 Meritage Corp. 103,112 13,373 MGM Resorts International 570,358 1 Michelin, Class B 160 1 Mr. Price Group Ltd. 15 1,672 Naspers Ltd., Class N 351,243 9,246 1,006,264 6,624 1 NIO, Inc., ADR 352,397 615 1 Overstock.com, Inc. 56,703 1,870 Pandora A/S 251,978 1,040 Patrick Industries, Inc. 75,920 1 1 Perdoceo Education Corp. 12 21,243 Petrobras Distribuidora SA 113,950 1,145 1 Pinduoduo, Inc., ADR 145,438 7,842 1 Prosus NV 767,305 500 PT Astra International Tbk 170 95,500 PTT Oil & Retail Business PCL 91,038 1,030 Pulte Group, Inc. 56,207 19,300 Qingdao Haier Co. Ltd. 77,392 1,673 RCI Hospitality Holdings, Inc. 110,753 370 1 RH 251,230 47,764 Sekisui House Ltd. 979,276 590 Service Corp. International 31,618 100 Shenzhou International Group 2,526 387 Shimano, Inc. 91,767 1,453 Signet Jewelers Ltd. 117,388 2,685 1 Sportsman’s Warehouse Holdings, Inc. 47,712 2,331 Standard Motor Products, Inc. 101,049 10,620 Stanley Electric Co. Ltd. 307,174 2,296 Sturm Ruger & Co., Inc. 206,594 4,145 Subaru Corp. 81,737 16,044 Motor Corp. 678,609 1 1 Tata Motors Ltd. 5 75,100 TCL Corp. 88,914

FGAF-3 Shares, Principal Amount or Contracts Value 7,718 1 Terminix Global Holdings, Inc. $ 368,226 20 1 Tesla, Inc. 13,594 1,253 The Aaron’s Company, Inc. 40,083 32,353 The Wendy’s Co. 757,707 1,861 Thor Industries, Inc. 210,293 385 1 TopBuild Corp. 76,145 4,331 Topsports International Holdings Ltd. 7,096 123 Travel + Leisure Co. 7,312 17 Trip.com Group Ltd., ADR 603 4,838 1 Vipshop Holdings Ltd., ADR 97,147 351 1 Vista Outdoor, Inc. 16,244 550 1 Wayfair, Inc. 173,640 1 Woolworths Holdings Ltd. 4 621 1 WW International, Inc. 22,443 17,449 Wyndham Hotels & Resorts, Inc. 1,261,388 1 1 XPeng, Inc., ADR 44 40,271 Yadae Group Holdings Ltd. 86,621 2,982 Yum China Holding, Inc. 197,557 12,775 Holdings 106,293 1 1 Zumiez,Inc. 49 TOTAL 37,984,781 Consumer Staples—3.2% 6,511 Alimentation Couche-Tard, Inc., Class B 239,251 45,864 Ambev SA 157,405 1,023 B&G Foods, Inc., Class A 33,554 37,376 Becle SA de CV 98,774 965 1 Bellring Brands, Inc. 30,243 7,675 BIM Birlesik Magazalar AS 54,794 2,331 1 BJ’s Wholesale Club Holdings, Inc. 110,909 2,261 Britannia Industries Ltd. 111,147 854 Calavo Growers, Inc. 54,161 103,724 Charoen Pokphand Foods Public Co.,Ltd. 85,800 11,273 China Feihe Ltd. 24,334 27,641 China Mengniu Dairy Co. Ltd. 167,146 15,523 China Resources Enterprises Ltd. 139,288 3,500 Chongqing Brewery Co., Ltd. 107,224 184 CJ CheilJedang Corp. 75,339 6,343 Clicks Group, Ltd. 109,163 1 Colgate-Palmolive (India) Ltd. 23 387 Cosmos Pharmaceutical Corp. 56,790 9 E-Mart Co. Ltd. 1,279 2,818 Empire Co. Ltd., Class A 88,887 7,979 George Weston Ltd. 760,503 7,864 Gruma S.A., Class B 88,392 46,494 Grupo Bimbo S.A.B. de CV, Class A 102,392 4,380 1 Herbalife Ltd. 230,957 727 Hindustan Lever Ltd. 24,228 14,575 Hormel Foods Corp. 695,956 26,862 PLC 578,862 42,732 1 ITC Ltd. 116,582 438 J&J Snack Foods Corp. 76,392 19,821 JBS S.A. 115,966 14,851 Kesko 548,592 54,287 Kimberly-Clark de Mexico 96,433 1,015 Kobayashi Pharmaceutical Co. Ltd. 86,688 966 Kobe Bussan Co. Ltd. 30,425 1,559 Korea Tobacco & Ginseng Corp. 116,829 100 Kweichow Moutai Co. Ltd. 31,830 9,266 Lion Corp. 156,988

FGAF-4 Shares, Principal Amount or Contracts Value 13,703 Loblaw Cos. Ltd. $ 843,338 3,611 L’Oreal SA 1,610,186 7,235 2 Magnit, GDR 104,944 15,933 1 Marico Ltd. 113,936 8,026 Metro, Inc., Class A 384,790 269 1 National Beverage Corp. 12,705 499 Nestle India Ltd. 118,952 4,829 Nestle S.A. 601,381 19,566 Perlis Plantations Bhd 86,283 769 Pigeon Corp. 21,589 29,360 PT Gudang Garam Tbk 89,499 39,746 PT Indofood Sukses Makmur 16,927 21,055 1 Raia Drogasil S.A. 104,602 923 1 Rite Aid Corp. 15,045 1 1 RLX Technology, Inc., ADR 9 491 Sanfilippo (John B. & Sons), Inc. 43,488 10,150 Seven & I Holdings Co. Ltd. 483,840 400 Xinghuacun Fen Wine Factory Co. Ltd. 27,734 10,997 Shoprite Holdings Ltd. 119,682 3,432 Suntory Beverage and Food Ltd. 128,808 12,366 Tata Global Beverages Ltd. 125,859 161,741 Thai Union Frozen Products Public Co. Ltd. 99,935 30,212 The Coca-Cola Co. 1,634,771 404 The Spar Group, Ltd. 5,119 1 Tiger Brands Ltd. 15 23,166 Tingyi (Cayman Isln) Hldg Co. 46,247 2,793 Toyo Suisan Kaisha Ltd. 107,467 9,505 Tsingtao Brewery Co. Ltd. 102,245 1,396 1 United Natural Foods, Inc. 51,624 754 Universal Corp. 42,955 994 1 USANA Health Sciences, Inc. 101,815 12,537 Vector Group Ltd. 177,273 6,844 Vinda International Holdings Ltd. 21,067 182,302 WH Group Ltd. 163,891 1 2 X5 Retail Group NV, GDR 35 1,626 Yakult Honsha Co. Ltd. 92,040 TOTAL 13,303,622 Energy—2.0% 1,068 Cactus, Inc. 39,217 1,956 1 Championx Corp. 50,171 154,942 China Petroleum & Chemical Corp. 78,580 9,862 Exxaro Resources Ltd. 116,332 46,762 Exxon Mobil Corp. 2,949,747 4,296 1 Frank’s International N.V. 13,017 1,374 GS Holdings Corp. 56,468 37,563 Imperial Oil Ltd. 1,144,829 24,043 Murphy Oil Corp. 559,721 91 1 Nabors Industries Ltd. 10,396 10,117 1 Oceaneering International, Inc. 157,522 143 OMV AG 8,158 3,758 Ovintiv, Inc. 118,264 19,548 Parkland Fuel Corp. 631,730 127,177 PetroChina Co. Ltd. 62,246 10,974 Phillips 66 941,789 11,597 1 Propetro Holding Corp. 106,229 58,868 PT United Tractors 82,216 26,932 PTT Exploration and Production Public Co. 98,682 9,178 Reliance Industries Ltd. 261,175 662 RPC, Inc. 3,277

FGAF-5 Shares, Principal Amount or Contracts Value 4,091 Soul Pattinson & Co. Ltd. (WH) $ 103,521 2,882 Targa Resources, Inc. 128,105 1 1 Tatneft 7 8,968 Valero Energy Corp. 700,221 1,166 1 Whiting Petroleum Corp. 63,605 3,690 World Fuel Services Corp. 117,084 40,606 Yanzhou Coal Mining Co. Ltd., Class H 54,599 TOTAL 8,656,908 Financials—10.1% 8,952 AB Industrivarden 348,261 1 ABSA Group Ltd. 9 4,467 Ageas 247,739 9,928 Corp. 1,295,008 15,583 , Inc. 776,657 1,431 Amalgamated Financial Corp. 22,367 2,284 Ameris Bancorp 115,639 35,671 Assicurazioni Generali SpA 714,533 17,659 Associated Banc-Corp. 361,656 1,220 Axis Bank Ltd. 12,307 50,057 B3 SA - Brasil Bolsa Balcao 169,279 3 1 Bajaj Finance Ltd. 243 26,545 1 Banco Bradesco SA 116,666 1,646 Banco de Credito E Inversiones 69,483 1,831,522 Banco Santander Chile SA 90,555 6,971 1 Bancorp, Inc., DE 160,403 70,859 Bank of America Corp. 2,921,517 381,388 Bank of China Ltd. 136,913 169,456 Bank of Communications Ltd. 113,834 100,800 Bank of Communications Ltd. 76,441 584,200 Bank of East Asia Ltd./The 1,082,998 19,750 Bank of New York Mellon Corp. 1,011,792 58,550 Bank of The Philippine Islands 106,380 4,234 Bank Pekao SA 103,308 336 Bank Zachodni WBK S.A. 22,411 4,302 BankUnited, Inc. 183,652 20,746 BB Seguridade Participacoes SA 96,351 8,981 BNP Paribas SA 562,427 6,130 Brightsphere Investment Group, Inc. 143,626 34 1 Brookfield Asset Management Reinsurance Partners Ltd. 1,769 4,854 Brookfield Asset Management, Inc. 247,634 6,856 Cadence BanCorporation 143,153 12,082 Capital One Financial Corp. 1,868,965 3,165 Cathay Bancorp, Inc. 124,574 78,153 Cathay Financial Holding Co. Ltd. 151,051 16,218 Charles Schwab Corp. 1,180,833 177,176 China Cinda Asset Management Co. Ltd. 33,773 42,408 China CITIC Bank Corp. Ltd. 20,077 515,501 China Construction Bank Corp. 404,928 255,904 China Development Financial Holding Corp. 120,777 205,951 China Everbright Bank Co. Ltd. 84,087 138,843 China Huarong Asset Management Co. Ltd. 16,899 54,800 China Insurance International Holdings Co. Ltd. 91,192 72,838 China Life Insurance Co. Ltd. 144,237 23,045 China Merchants Bank Co. Ltd. 196,642 4,200 China Merchants Bank Co. Ltd. 35,224 34,422 Chinatrust Financial Holding Co. Ltd. 27,990 11,291 Cholamandalam Investment and Finance Co., Ltd. 77,989 8,182 Citigroup, Inc. 578,876 6,659 Citizens Financial Group, Inc. 305,448

FGAF-6 Shares, Principal Amount or Contracts Value 6,423 ConnectOne Bancorp, Inc. $ 168,090 16,073 DBS Group Holdings Ltd. 356,675 4,239 Deutsche Boerse AG 739,923 1,070 Eagle Bancorp, Inc. 60,006 9,388 East West Bancorp, Inc. 673,026 4,784 1 Enova International, Inc. 163,661 2,021 EQT AB 73,385 27,584 Equitable Holdings, Inc. 839,933 2,320 Fairfax Financial Holdings Ltd. 1,017,386 19,359 FinecoBank Banca Fineco SPA 338,289 5,482 First American Financial Corp. 341,803 6,286 First Financial Holding Co. Ltd. 5,121 6,703 First Foundation, Inc. 150,885 1,047 First Merchants Corp. 43,628 13,536 FirstRand Ltd. 50,819 11,000 Fubon Financial Holdings Co., Ltd 29,121 42,685 1 Genworth Financial, Inc., Class A 166,471 20,300 Gjensidige Forsikring ASA 447,554 2,007 Goldman Sachs Group, Inc. 761,717 657 Great Western Bancorp, Inc. 21,543 1 Great-West Lifeco, Inc. 30 3,341 Hana Financial Holdings 136,489 9 Hang Seng Bank Ltd. 180 6,439 Hannover Rueckversicherung SE 1,077,307 30,765 PLC 676,640 456 Hingham Institution for Savings 132,468 9,419 Hong Kong Exchanges & Clearing Ltd. 561,430 4,770 Housing Development Finance Corp. Ltd. 159,304 54,508 Hua Nan Financial Holdings Co. Ltd. 36,065 12,402 ICICI Bank Ltd. 105,539 3,608 ICICI Lombard General Insurance Co. Ltd. 76,036 156,813 Industrial & Commercial Bank of China 92,003 19,868 Industrivarden AB 727,211 4,003 International Bancshares Corp. 171,889 239,015 Intesa Sanpaolo SpA 659,695 21,705 Israel Discount Bank 103,358 1,746 JPMorgan Chase & Co. 271,573 265 Kinsale Capital Group, Inc. 43,664 276 Korea Investment Holdings Co. Ltd. 25,251 1 LG Investment & Securities Co. Ltd. 11 2,785 Luther Burbank Corp. 33,030 12,200 Malayan Banking BHD 23,841 14,660 Mercury General Corp. 952,167 841 Meta Financial Group, Inc. 42,580 96,700 Metro Bank and Trust Co. 96,459 14,471 Mizrahi Tefahot Bank Ltd. 445,579 7,909 1 Moneta Money Bank AS 30,043 1,049 1 Mr. Cooper Group, Inc. 34,680 1,859 National Bank Holdings Corp. 70,159 2,903 Navient Corp. 56,115 904 NBT Bancorp, Inc. 32,517 1 Nedbank Group Ltd. 12 802 Nelnet, Inc., Class A 60,334 10,881 New China Life Insurance Co. Ltd. 37,137 22,246 NN Group NV 1,048,515 45,406 Old Republic International Corp. 1,131,063 759 OneMain Holdings, Inc. 45,472 98 1 Oportun Financial Corp. 1,963 1,898 OTP Bank RT 102,205

FGAF-7 Shares, Principal Amount or Contracts Value 4,585 Oversea-Chinese Banking Corp. Ltd. $ 40,778 526 Partners Group Holding AG 797,135 15,700 Co. Ltd. 54,962 18,682 Ping An Insurance (Group) Co. of China Ltd. 182,391 1,477 Piper Jaffray Cos., Inc. 191,360 50,000 Postal Savings Bank of China Co. Ltd. 33,680 49,000 1 Postal Savings Bank of China Co. Ltd. 38,069 6,191 Powszechna Kasa Oszczednosci Bank Polski SA 61,447 1 Powszechny Zaklad Ubezpieczen SA 10 4,831 Progressive Corp., OH 474,452 18,548 PT Bank Central Asia 38,536 98,300 PT Bank Mandiri Tbk 39,918 143,627 Public Bank Berhad 142,207 2,650 QCR Holdings, Inc. 127,438 44,909 Rand Merchant Investment Holdings Ltd. 98,524 70,534 RHB Capital Berhad 91,799 2,110 Safety Insurance Group, Inc. 165,171 1,384 Life Insurance Co., Ltd. 98,046 2,196 Samsung Securities Co. Ltd. 87,674 1 Sanlam Ltd. 4 24,518 PLC 1,192,976 1 Shriram Transport Finance Co. Ltd. 18 55 1 Silvergate Capital Corp. 6,233 13,568 Exchange Ltd. 112,949 226,023 Sinopac Holdings Co. 111,541 19,537 SLM Corp. 409,105 63,402 St. James’s Place Capital PLC 1,297,503 1 Standard Bank Group Ltd. 9 1 State Bank of India 6 1,293 Sterling Bancorp 32,053 503 Stewart Information Services Corp. 28,515 2,893 Stifel Financial Corp. 187,640 323 Swiss Re AG 29,111 25,372 Synchrony Financial 1,231,049 157,696 Taiwan Cooperative Financial Holding Co. Ltd. 120,271 2,873 1 Texas Capital Bancshares, Inc. 182,407 1,587 The First of Long Island Corp. 33,692 904 UMB Financial Corp. 84,126 200 United Overseas Bank Ltd. 3,846 2,012 Veritex Holdings, Inc. 71,245 56 Virtus Investment Partners, Inc. 15,555 42,311 Wells Fargo & Co. 1,916,265 1,059 Wesbanco, Inc. 37,732 1 , Inc. 10 138,409 Yuanta Financial Holding Co. Ltd. 133,379 TOTAL 42,668,460 Health Care—7.6% 3,041 Abbott Laboratories 352,543 9,856 1 Achillion Pharmaceuticals, Inc. 4,534 2,352 1 AdaptHealth Corp. 64,468 513 1 Addus Homecare Corp. 44,754 4,070 Ambu A/S 156,424 1,357 1 AMN Healthcare Services, Inc. 131,602 25,791 1 Amneal Pharmaceuticals, Inc 132,050 456 1 Amphastar Pharmaceuticals, Inc. 9,193 5,638 1 Antares Pharma, Inc. 24,582 849 Anthem, Inc. 324,148 4,784 1 Apria, Inc. 133,952 1 Aspen Pharmacare Holdings Ltd. 11

FGAF-8 Shares, Principal Amount or Contracts Value 10,500 Astellas Pharma, Inc. $ 182,780 7,271 1 Avid Bioservices, Inc. 186,501 6,378 Becton Dickinson & Co. 1,551,066 5,190 1 BioMarin Pharmaceutical, Inc. 433,054 1,375 1 Bio-Rad Laboratories, Inc., Class A 885,899 12,893 1 Cara Therapeutics, Inc. 183,983 4,458 Cardinal Health, Inc. 254,507 883 Carl Zeiss Meditec AG 170,629 232 1 , Inc. 55,325 12,902 Cerner Corp. 1,008,420 4,235 1 Chimerix, Inc. 33,880 26,004 China Medical System Holding Ltd. 68,494 130,827 China Resources Pharmaceutical Group Ltd. 81,553 3,100 Chongqing Zhifei Biological Products Co. Ltd. 89,587 8,942 Cipla Ltd. 116,848 1,166 1 Clovis Oncology, Inc. 6,763 1,344 1 Corvel Corp. 180,499 24,340 1 Cytomx Therapeutics, Inc. 154,072 2,120 Divi’s Laboratories Ltd. 125,679 1,727 Dr. Reddy’s Laboratories Ltd. 125,717 2,840 Eisai Co. Ltd. 277,537 9,765 Eli Lilly & Co. 2,241,263 20,436 1 Endo International PLC 95,640 795 Ensign Group, Inc. 68,903 14,977 1 Exelixis, Inc. 272,881 1,457 1 Fulgent Genetics, Inc. 134,379 26,141 Hapvida Participacoes e Investimentos SA 80,991 7,574 Hisamitsu Pharmaceutical Co., Inc. 372,789 3,171 Hoya Corp. 420,281 4,039 Humana, Inc. 1,788,146 2,613 1 IDEAYA Biosciences, Inc. 54,847 4,558 1 ImmunityBio, Inc. 65,088 413 1 Inari Medical, Inc. 38,525 2,081 1 Innovent Biologics, Inc. 24,271 3,402 Ipca Laboratories Ltd. 92,889 3,129 Johnson & Johnson 515,471 19,099 Koninklijke Philips NV 946,820 11,073 Kossan Rubber Industries Berhad 8,585 19,215 1 Lexicon Pharmaceuticals, Inc. 88,197 780 1 LHC Group, Inc. 156,203 3,400 M3, Inc. 248,454 1,185 1 Magellan Health, Inc. 111,627 14,029 1 Magenta Therapeutics, Inc. 137,204 4,764 McKesson Corp. 911,067 18,502 Medipal Holdings Corp. 353,311 1,209 1 Medpace Holdings, Inc. 213,546 16,923 Medtronic PLC 2,100,652 30,137 Merck & Co., Inc. 2,343,754 817 1 Meridian Bioscience, Inc. 18,121 11,554 Microport Scientific Corp. 103,653 1,034 1 ModivCare, Inc. 175,852 9,088 1 Molecular Templates, Inc., Class THL 71,068 1,246 1 Natus Medical, Inc. 32,371 5,398 1 Neurocrine Biosciences, Inc. 525,333 3,755 1 NextGen Healthcare, Inc. 62,295 6,678 1 NGM Biopharmaceuticals, Inc. 131,690 10,987 Novo Nordisk A/S 919,195 30,684 1 Opko Health, Inc. 124,270 1,132 1 OptimizeRX Corp. 70,071

FGAF-9 Shares, Principal Amount or Contracts Value 1,249 1 OraSure Technologies, Inc. $ 12,665 7,787 1 Organogenesis Holdings Inc. 129,420 3,013 1 Organon & Co. 91,173 143 1 Orthofix Medical, Inc. 5,736 3,900 Otsuka Holdings Co., Ltd. 161,681 3,153 Owens & Minor, Inc. 133,466 359 Patterson Cos., Inc. 10,910 16,656 1 Poseida Therapeutics, Inc. 166,893 2,065 1 Precision Biosciences, Inc. 25,854 6,885 1 Progenics Pharmaceuticals, Inc. 0 1,070 1 Progyny, Inc. 63,130 1,155 1 R1 RCM, Inc. 25,687 1,800 1 Regeneron Pharmaceuticals, Inc. 1,005,372 1 1 Rigel Pharmaceuticals, Inc. 4 6,220 Roche Holding AG 2,344,135 1,556 Roche Holding AG 632,062 109 1 Co. Ltd. 81,362 1,592 Seegene, Inc. 116,864 18,444 Weigao Group Medical Polymer Co., Ltd. 43,046 626 Fosun Pharmaceutical Co. Ltd. 5,056 4,700 Shanghai Fosun Pharmaceutical Co. Ltd. 52,467 42,271 Shanghai Pharmaceuticals Holding Co. Ltd. 91,981 150 Shin Poong Pharmaceutical Co. Ltd. 11,457 6,812 Shionogi and Co. 355,009 5,065 Siemens Healthineers AG 310,595 15,053 1 Siga Technologies, Inc. 94,533 31,739 Sinopharm Group Co. Ltd. 94,431 30,149 1 Spectrum Pharmaceuticals, Inc. 113,059 61,100 Sri Trang Gloves 79,652 275 Stedim 130,093 22,653 Supermax Corporation Berhad 17,997 2,089 1 Sutro Biopharma, Inc. 38,835 3,164 1 Travere Thrapeutics, Inc. 46,163 1,075 1 Triple-S Management Corp., Class B 23,940 137 UnitedHealth Group, Inc. 54,860 9,089 1 Vanda Pharmaceuticals, Inc. 195,504 6,057 1 Vertex Pharmaceuticals, Inc. 1,221,273 150,000 Winteam Pharmaceutical Group Ltd. 102,438 2,563 WuXi AppTec Co. Ltd. 59,851 16,023 1 WuXi PharmaTech, Inc. 293,682 281 1 Zynex, Inc. 4,364 TOTAL 32,117,457 Industrials—8.2% 4,774 3M Co. 948,260 98 A.P. Moller-Maersk A/S, Class B 281,828 9,216 ACS Actividades de Construccion y Servicios, SA 246,830 9,216 1 ACS Actividades de Construccion y Servicios, SA, Rights 12,895 6,509 Airbus Group SE 838,232 137 1 American Woodmark Corp. 11,192 335 Apogee Enterprises, Inc. 13,645 1,474 Applied Industrial Technologies, Inc. 134,222 1,652 ArcBest Corp. 96,130 15,031 PLC 1,116,443 1,313 1 Atkore, Inc. 93,223 1,929 1 Atlas Air Worldwide Holdings, Inc. 131,384 138,354 AviChina Industry & Technology Co. Ltd. 91,594 302 AZZ, Inc. 15,638 36,893 Bharat Electronics Ltd. 88,863 2,620 Boise Cascade Co. 152,877

FGAF-10 Shares, Principal Amount or Contracts Value 189,913 BTS Group Holdings PCL $ 55,433 1,813 PLC 59,950 8,002 Caterpillar, Inc. 1,741,475 2,532 Central Japan Railway Co. 383,904 205 , Inc. 24,854 15,115 1 China COSCO Holdings Co. Ltd., Class H 38,083 80,768 China Railway Group Ltd. 42,131 698 1 Cimpress PLC 75,670 101,820 Citic Pacific Ltd. 109,795 8,401 1 Clean Harbors, Inc. 782,469 1,144 Comfort Systems USA, Inc. 90,136 4,597 1 Cornerstone Building Brands 83,573 29,600 1 COSCO SHIPPING Holdings Co. Ltd. 139,904 13,800 Dai Nippon Printing Co. Ltd. 291,647 2,904 Deluxe Corp. 138,724 2,079 Doosan Bobcat, Inc. 88,844 429 Dover Corp. 64,607 677 DSV Panalpina A/S 157,846 1,774 1 Dycom Industries, Inc. 132,216 8,255 Eaton Corp. PLC 1,223,226 1,179 Emcor Group, Inc. 145,241 13,963 Expeditors International Washington, Inc. 1,767,716 26,715 PLC 1,030,587 8,595 1,196,415 10,306 Genivar Income Fund 1,203,032 57 Global Industrial Co. 2,092 595 1 GMS, Inc. 28,643 1,791 GS Engineering & Construction Corp. 68,245 1 Havells India Ltd. 13 600 1 Herc Holdings, Inc. 67,242 3,577 Hillenbrand, Inc. 157,674 1,233 1 IES Holdings, Inc. 63,327 8,351 Illinois Tool Works, Inc. 1,866,950 1,279 Insperity, Inc. 115,583 1,944 Jacobs Engineering Group, Inc. 259,368 871 1 JELD-WEN Holding, Inc. 22,872 5,018 Johnson Controls International PLC 344,385 69,982 Kajima Corp. 886,028 1,262 KForce Com, Inc. 79,418 3,871 Knight-Swift Transportation Holdings, Inc. 175,976 14,026 Koc Holding A.S. 29,625 322 Kone Corp. OYJ, Class B 26,271 1,018 73,856 2,065 Kuehne & Nagel International AG 706,813 1,366 LG Corp. 124,354 6,366 Localiza Rent A Car SA 81,914 662 1 LX Holdings Co. Ltd. 6,613 4,663 1 Lyft, Inc. 282,018 8,094 Makita Corp. 380,925 6,970 Masco Corp. 410,603 1,364 1 Masonite International Corp. 152,482 1,183 1 Mastec, Inc. 125,516 473 Matthews International Corp., Class A 17,009 374 Miller Industries, Inc. 14,751 14,370 1 MRC Global, Inc. 135,078 2,242 Mueller Industries, Inc. 97,101 1,511 1 MYR Group, Inc. 137,380 75,827 NIBE Industrier AB 798,139 10,526 1 Now, Inc. 99,892

FGAF-11 Shares, Principal Amount or Contracts Value 43,048 Obayashi Corp. $ 341,819 1,550 Old Dominion Freight Lines, Inc. 393,390 1,222 Parker-Hannifin Corp. 375,288 7,804 Pitney Bowes, Inc. 68,441 1,066 Primoris Services Corp. 31,372 1 Quanex Building Products Corp. 25 4,211 Regal Beloit Corp. 562,211 417 Rockwool International A/S 203,497 1,190 Rush Enterprises, Inc. 51,456 9,606 Schneider Electric SA 1,512,124 50,945 Schneider National, Inc. 1,109,073 13,335 Secom Co. Ltd. 1,013,279 26,913 Shimizu Corp. 206,084 5,100 Sime Darby BHD 2,678 11,783 SKF Ab, Class B 300,176 287 SMC Corp. 169,519 6,851 Sohgo Security Services Co. Ltd. 311,943 1 1 STX Pan Ocean Co. Ltd. 8 11,451 Taisei Corp. 374,790 2,097 Terex Corp. 99,859 1,348 Tetra Tech, Inc. 164,510 30,013 Toppan, Inc. 482,098 1,619 Toshiba Corp. 70,052 7,826 Trane Technologies PLC 1,441,080 1,162 1 TriNet Group, Inc. 84,222 8,721 1 Uber Technologies, Inc. 437,097 900 UFP Industries, Inc. 66,906 721 1 United Rentals, Inc. 230,006 1,533 Universal Truckload Services, Inc. 35,719 1,376 Vestas Wind Systems A/S 53,921 9,274 Wabash National Corp. 148,384 22,695 Wartsila OYJ, Class B 337,137 15,167 Weg SA 102,734 31,600 Co. Ltd. 87,394 44,094 Weichai Power Co. Ltd., Class H 98,021 713 Werner Enterprises, Inc. 31,743 648 Wolters Kluwer NV 65,129 34,540 Xinyi Solar Holdings Ltd. 74,565 73,467 Zhejiang Expressway Co. Ltd. 65,279 21,072 Heavy Industry Science and Technology Co., Ltd. 22,065 TOTAL 34,403,984 Information Technology—13.0% 6,766 1 A10 Networks, Inc. 76,185 90,658 Acer Sertek, Inc. 95,335 2,585 1 ACI Worldwide, Inc. 96,007 3,163 1 Adobe, Inc. 1,852,379 1,748 Advanced Energy Industries, Inc. 197,017 2,226 Advantest Corp. 199,588 6,297 Amkor Technology, Inc. 149,050 51,404 Apple, Inc. 7,040,292 15,668 Applied Materials, Inc. 2,231,123 351 ASML Holding N.V. 241,664 9,783 Asustek Computer, Inc. 130,493 1,029 1 BigCommerce Holdings, Inc. 66,803 2,287 1 Blackbaud, Inc. 175,116 100,000 BOE Technology Group Co. Ltd. 96,573 20,051 Brother Industries Ltd. 399,970 1,342 1 Cambium Networks Corp. 64,886 6,885 SE 1,323,923

FGAF-12 Shares, Principal Amount or Contracts Value 2,702 1 Casa Systems, Inc. $ 23,967 1,009 Cass Information Systems, Inc. 41,117 1,874 1 CGI, Inc., Class A 169,909 184,059 1 China Youzan Ltd. 35,088 10,054 Cisco Systems, Inc. 532,862 735 1 CloudFlare, Inc. 77,792 3,634 1 Cognyte Software Ltd. 89,033 2,578 1 Commvault Systems, Inc. 201,522 123,537 Compal Electronics, Inc. 99,096 563 1 Corsair Gaming, Inc. 18,742 782 1 Crowdstrike Holdings, Inc. 196,524 1,700 CSG Systems International, Inc. 80,206 1,327 1 Daqo New Energy Corp., ADR 86,282 9,183 1 Datto Holding Corp. 255,655 212 Delta Electronics, Inc. 2,302 1,608 1 Diodes, Inc. 128,270 581 Disco Corp. 177,665 991 Dolby Laboratories, Class A 97,405 9,564 1 Duck Creek Technologies LLC 416,130 1,434 1 Elastic N.V. 209,020 1,139 1 EPAM Systems, Inc. 581,983 752 1 ePlus, Inc. 65,191 1,229 1 Fabrinet 117,824 1,142 1 Fortinet, Inc. 272,013 3,094 Ltd. 579,519 3,355 1 Gartner, Inc., Class A 812,581 15,700 , Inc. 103,849 24,080 Hewlett Packard Enterprise Co. 351,086 7,772 Hitachi Ltd. 444,798 36,367 Hon Hai Precision Industry Co. Ltd. 146,186 877 1 Ichor Holdings Ltd. 47,183 19,247 Infosys Ltd. 406,004 139,000 Innolux Display Corp. 103,668 977 1 Insight Enterprises, Inc. 97,710 207 InterDigital, Inc. 15,117 6,374 IT Holdings Corp. 162,818 7,336 1 Jamf Holding Corp. 246,270 4,543 1 JFrog Ltd. 206,797 900 Keyence Corp. 453,999 1,464 1 Kimball Electronics, Inc. 31,827 17,549 Kingboard Chemical Holdings Ltd. 97,415 40,049 Kingboard Laminates Holdings Ltd. 89,733 5,319 KLA Corp. 1,724,473 2,897 Lam Research Corp. 1,885,078 1,644 Larsen & Toubro Ltd. 90,132 105,224 Lenovo Group Ltd. 121,022 4,959 1 LG Display Co. Ltd. 107,918 517 LG Innotek Co., Ltd. 102,409 46,145 Lite-On Technology Corp. 95,395 9,979 Logitech International SA 1,209,409 921 Maximus, Inc. 81,020 4,197 MediaTek, Inc. 144,909 2,131 Methode Electronics, Inc., Class A 104,867 19,579 Microsoft Corp. 5,303,951 1,929 MKS Instruments, Inc. 343,266 4,850 1 nCino, Inc. 290,612 800 Obic Co. Ltd. 148,992 259 1 ON24, Inc. 9,189 1 1 Oneconnect Financial Technology Co., Ltd., ADR 12

FGAF-13 Shares, Principal Amount or Contracts Value 6,740 Otsuka Corp. $ 353,551 3,191 1 Paylocity Corp. 608,843 9,476 1 PayPal Holdings, Inc. 2,762,064 22 1 PC Connections, Inc. 1,018 10,209 Pegatron Corp. 25,213 4,000 Phison Electronics Corp. 68,910 2 1 Photronics, Inc. 26 278 1 Plexus Corp. 25,412 3,532 1 PTC, Inc. 498,930 1,509 QAD, Inc. 131,313 2,421 Qualcomm, Inc. 346,034 39,317 Quanta Computer, Inc. 123,472 6,931 Realtek Corp. 125,622 61,886 Ricoh Co. Ltd. 697,341 2,133 1 .com, Inc. 521,028 733 Samsung Electro-Mechanics Co. 115,008 21,143 Co. Ltd. 1,515,432 110 Samsung SDI Co. Ltd. 68,085 202 1 Sanmina Corp. 7,870 1,786 1 Semtech Corp. 122,877 3,213 Shimadzu Corp. 124,163 2,365 SK Hynix, Inc. 267,881 9,057 Skyworks Solutions, Inc. 1,736,680 1,055 1 SPS Commerce, Inc. 105,342 18,170 STMicroelectronics N.V. 659,609 3,047 Sumisho Computer Systems Corp. 181,511 47,655 Synnex Technology International Corp. 87,058 6,579 1 Synopsys, Inc. 1,814,422 109,122 Taiwan Semiconductor Manufacturing Co. Ltd 2,330,286 6,019 Tata Consultancy Services Ltd. 271,622 10,883 1 TeamViewer AG 409,972 9,073 Tech Mahindra Ltd. 133,967 3,497 1 Tenable Holdings, Inc. 144,601 16,061 1 Teradata Corp. 802,568 20,800 Tianjin Zhonghuan Semiconductor Co. Ltd 124,257 700 Electron Ltd. 301,379 1 Totvs SA 8 4,047 Trend Micro, Inc. 212,050 1,194 TTEC Holdings, Inc. 123,089 463 1 Tucows, Inc. 37,188 1,006 1 Twilio, Inc. 396,525 844 1 Tyler Technologies, Inc. 381,800 1,305 1 Ultra Clean Holdings, Inc. 70,105 27,000 Unimicron Technology Corp. 125,122 94,568 United Microelectronics Corp. 180,227 1,293 1 Unity Software, Inc. 142,010 215 1 Veritone, Inc. 4,238 5,827 Vishay Intertechnology, Inc. 131,399 1 Wipro Ltd. 7 87,427 Wistron Corp. 97,312 662 1 Workiva, Inc. 73,700 14,227 Yokogawa Electric Corp. 210,830 718 1 Zoom Video Communications, Inc. 277,888 25,200 ZTE Corp. 78,592 TOTAL 54,726,673 Materials—5.3% 3,606 ACC Ltd. 97,928 844 1 AdvanSix, Inc. 25,202 5,557 African Rainbow Minerals Ltd. 99,460

FGAF-14 Shares, Principal Amount or Contracts Value 3,064 Akzo Nobel NV $ 378,636 66,630 Alrosa AO 122,444 32,000 1 Aluminum Corp. of China Ltd. 18,948 57,186 Asia Cement Corp. 104,097 921 Avery Dennison Corp. 193,631 45,380 BHP Billiton Ltd. 1,646,067 25,474 BHP Group PLC 750,862 28,296 BHP Steel Ltd. 465,070 15,632 Boliden AB 601,240 4,781 Cherepovets MK Severstal 102,561 21,877 China Hongqiao Group Ltd. 29,644 58,189 China Molybdenum Co. Ltd. 34,552 36,859 China National Building Material Co. Ltd. 43,295 2,446 1 Clearwater Paper Corp. 70,861 13,294 Companhia Siderurgica Nacional SA 117,577 12,673 1 Companhia Vale Do Rio Doce 288,556 2,355 Eastman Chemical Co. 274,946 5,107 1,3 Ferroglobe Representation & Warranty Insurance Trust 0 2,689 1 Forterra, Inc. 63,218 65,836 Fortescue Metals Group Ltd. 1,152,228 35,966 PLC 154,020 1,466 Greif, Inc. 86,494 22,936 Gujarat Ambuja Cements Ltd. 105,078 1,547 Hawkins, Inc. 50,664 8,900 Hengli Petrochemical Co. Ltd. 36,143 1 Hindalco Industries Ltd. 5 14,317 Holcim Ltd. 858,970 7,290 Impala Platinum Holdings Ltd. 120,475 14,191 International Paper Co. 870,050 19,505 James Hardie Industries PLC, GDR 662,462 31,891 Copper Co. Ltd. 65,314 1 JSW Steel Ltd. 9 1,361 KGHM Polska Miedz SA 66,946 217 1 Koppers Holdings, Inc. 7,020 432 Korea Co. Ltd. 84,039 866 Kumba Iron Ore Ltd. 38,839 232 L.G. Chemical Ltd. 175,144 3,405 Louisiana-Pacific Corp. 205,287 2,073 Mitsubishi Gas Chemical Co., Inc. 43,937 10,670 Newcrest Mining Ltd. 202,899 4,750 Nitto Denko Corp. 354,265 503 Norilsk Nickel 170,488 572 1 Northam Platinum Ltd. 8,691 421 Novolipetski Metallurgicheski Komb OAO 1,323 30,936 Novolipetski Metallurgicheski Komb OAO 97,266 1,874 Novozymes A/S, Class B 141,426 28,743 Nuevo Grupo Mexico SA, Class B 135,482 2,314 Nutrien Ltd. 140,210 27,007 Orbia Advance Corp. SAB de CV 70,600 10,873 Pactiv Evergreen, Inc. 163,856 13,600 Petronas Chemicals BHD 26,417 5,006 2 Phosagro OAO, GDR 101,321 1 PLC 21 518 Polyus PJSC 100,174 367 POSCO 112,940 1,661 PPG Industries, Inc. 281,988 530,200 PT Aneka Tambang Tbk 84,108 146,407 PT Indah Kiat Pulp & Paper Corp. 75,226 2,150 PT Semen Gresik 1,409

FGAF-15 Shares, Principal Amount or Contracts Value 4,315 1 Queen’s Road Capital Investment Ltd. $ 2,297 11,676 Ltd. 1,109,023 17,960 Rio Tinto PLC 1,478,590 9,791 RPM International, Inc. 868,266 6,127 1 Ryerson Holding Corp. 89,454 1 1 Sasol Ltd. 15 2,064 Scotts Miracle-Gro Co. 396,123 6,756 Sealed Air Corp. 400,293 6,512 Sherwin-Williams Co. 1,774,194 212 Shree Cement 78,820 33,405 Sibanye Stillwater 139,772 3,419 Sika AG 1,117,958 265,450 South32 Ltd. 583,257 528 Stepan Co. 63,503 4,280 Symrise AG 596,659 1 Tata Steel Ltd. 16 30,069 Tosoh Corp. 518,330 2,356 Trinseo SA 140,983 2,645 Va Stahl Ag 107,709 28,459 Vedanta Ltd. 101,069 1,112 Worthington Industries, Inc. 68,032 81,054 Zijin Mining Group Co. Ltd. 109,000 TOTAL 22,325,392 Real Estate—1.9% 18,745 Agile Group Holdings Ltd. 24,288 4,048 American Tower Corp. 1,093,527 7,840 Apartment Income REIT Corp. 371,851 882 Broadstone Net Lease, Inc. 20,648 4,537 CareTrust REIT, Inc. 105,394 14,550 CatchMark Timber Trust, Inc. 170,235 32,806 CIFI Holdings Group Co. Ltd. 25,606 13,394 1 Corepoint Lodging, Inc. 143,316 51,526 Country Garden Holdings Co. 57,736 6,484 Crown Castle International Corp. 1,265,028 2,567 Daito Trust Construction Co. Ltd. 280,639 7,421 1 DigitalBridge Group, Inc. 58,626 1,935 Equity Lifestyle Properties, Inc. 143,790 188,400 1 ESR Cayman Ltd. 635,765 31,739 Evergrande Real Estate Group Limited 41,369 2,928 1 eXp World Holdings, Inc. 113,519 84,933 Franshion Properties of China Ltd. 28,441 4,821 Goodman Group 76,172 35,411 Greentown China Holdings Ltd. 54,546 72,718 Guangzhou R&F Properties Co. Ltd. 82,980 20,865 Hopson Development Holdings Ltd. 95,668 127,000 1 Kaisa Group Holdings Ltd. 48,089 4,627 Kite Realty Group Trust 101,840 28,057 KWG Property Holding Ltd. 37,583 5,025 Logan Group Co. Ltd. 7,521 220,253 Mapletree Commercial Trust 354,250 67,274 Mapletree Logistics Trust 102,705 3,134 Mid-American Apartment Communities, Inc. 527,828 2,249 National Storage Affiliates Trust 113,709 1 NEPI Rockcastle PLC 7 16,836 New Senior Investment Group, Inc. 147,820 3,016 Newmark Group, Inc. 36,222 6,790 ProLogis, Inc. 811,609 555 Public Storage 166,883 15,874 Retail Properties of America, Inc. 181,757

FGAF-16 Shares, Principal Amount or Contracts Value 37,865 Seazen Group Ltd. $ 35,894 10,444 Tanger Factory Outlet Centers, Inc. 196,869 5,530 Uniti Group, Inc. 58,563 TOTAL 7,818,293 Utilities—1.8% 1 1 Adani Green Energy UP Ltd. 15 678 American States Water Co. 53,942 439 American Water Works Co., Inc. 67,663 1,508 Brookfield Infrastructure Corp. 113,703 342,396 CGN Power Co. Ltd. 76,291 74,400 China Longyuan Power Group Corp. 128,220 136,322 China Power International Development Ltd. 29,848 6,697 Clearway Energy, Inc. 168,898 17,189 CPFL Energia SA 92,999 33,901 Endesa SA 822,407 1,492 ENN Energy Holdings Ltd. 28,402 18,554 Equatorial Energia SA 92,513 47,488 Gail India Ltd. 95,742 256,000 2 HK Electric Investments Ltd. 259,485 58,725 Iberdrola SA 715,589 10,144 Indraprastha Gas Ltd. 76,093 467 Korea Electric Power Corp. 10,307 48,872 Kunlun Energy Co. Ltd. 45,068 3,880 Manila Electric Co. 22,032 21,675 NextEra Energy, Inc. 1,588,344 865 Northwestern Corp. 52,090 619,586 OJSC Inter Rao Ues 39,827 2,135 Otter Tail Corp. 104,209 15,641 Petronas Gas 58,372 2,720 Portland General Electric Co. 125,338 22,456 Power Grid Corp of India Ltd. 70,239 9,735 Red Electrica Corporacion SA 180,677 29,281 RWE AG 1,061,119 58,800 Terna SpA 438,107 31,253 Uniper SE 1,152,238 1 Unitil Corp. 53 TOTAL 7,769,830 TOTAL COMMON STOCKS 282,781,261 FOREIGN GOVERNMENTS/AGENCIES—5.9% Sovereign—5.9% AUD 1,000,000 Australia, Government of, Sr. Unsecd. Note, Series 148, 2.750%, 11/21/2027 829,954 EUR 390,000 Belgium, Government of, Series 68, 2.250%, 6/22/2023 489,260 680,000 Belgium, Government of, Series 74, 0.800%, 6/22/2025 849,890 CAD 480,000 Canada, Government of, Series WL43, 5.750%, 6/1/2029 518,157 EUR 6,000 France, Government of, 0.500%, 5/25/2025 7,400 150,000 France, Government of, Bond, 4.500%, 4/25/2041 308,318 850,000 France, Government of, O.A.T., 5.500%, 4/25/2029 1,457,551 650,000 France, Government of, Unsecd. Note, 1.250%, 5/25/2036 862,949 300,000 France, Government of, Unsecd. Note, 1.750%, 6/25/2039 431,632 600,000 Germany, Government of, 0.250%, 2/15/2027 743,682 300,000 Germany, Government of, Bond, Series 03, 4.750%, 7/4/2034 585,776 100,000 Germany, Government of, Bond, Series 08, 4.750%, 7/4/2040 224,539 680,000 Italy, Government of, Sr. Unsecd. Note, 0.650%, 10/15/2023 823,888 1,000,000 Italy, Government of, Sr. Unsecd. Note, 4.750%, 9/1/2028 1,543,600 1,250,000 Italy, Government of, Unsecd. Note, 1.600%, 6/1/2026 1,590,129 58,000 Italy, Government of, Unsecd. Note, 3.250%, 9/1/2046 90,251 JPY 142,000,000 Japan, Government of, Sr. Unsecd. Note, Series 114, 2.100%, 12/20/2029 1,505,792 185,000,000 Japan, Government of, Sr. Unsecd. Note, Series 153, 1.300%, 6/20/2035 1,911,347 50,000,000 Japan, Government of, Sr. Unsecd. Note, Series 351, 0.100%, 6/20/2028 455,241

FGAF-17 Shares, Principal Amount or Contracts Value JPY 155,000,000 Japan, Government of, Sr. Unsecd. Note, Series 44, 1.700%, 9/20/2044 $ 1,750,895 $ 30,000 Mexico, Government of, Series MTNA, 6.750%, 9/27/2034 39,705 EUR 450,000 Netherlands, Government of, Unsecd. Note, 2.500%, 1/15/2033 691,362 150,000 Spain, Government of, 4.200%, 1/31/2037 265,513 600,000 Spain, Government of, Sr. Unsecd. Note, 1.500%, 4/30/2027 778,849 590,000 Spain, Government of, Sr. Unsecd. Note, 1.950%, 7/30/2030 802,449 480,000 Spain, Government of, Sr. Unsecd. Note, 2.750%, 10/31/2024 629,770 GBP 200,000 United Kingdom, Government of, 2.750%, 9/7/2024 299,101 430,000 United Kingdom, Government of, 3.250%, 1/22/2044 832,384 350,000 United Kingdom, Government of, 4.250%, 12/7/2027 600,013 270,000 United Kingdom, Government of, Bond, 4.250%, 3/7/2036 536,965 650,000 United Kingdom, Government of, Unsecd. Deb., 1.625%, 10/22/2028 968,565 600,000 United Kingdom, Government of, Unsecd. Note, 1.500%, 7/22/2047 877,932 230,000 United Kingdom, Government of, Unsecd. Note, 4.250%, 6/7/2032 431,138 TOTAL FOREIGN GOVERNMENTS/AGENCIES 24,733,997 CORPORATE BONDS—4.9% Basic Industry - Metals & Mining—0.0% $ 100,000 Reliance Steel & Aluminum Co., Sr. Unsecd. Note, 4.500%, 4/15/2023 105,934 Capital Goods - Aerospace & Defense—0.3% 350,000 Boeing Co., Sr. Unsecd. Note, 4.875%, 5/1/2025 392,345 145,000 Huntington Ingalls Industries, Inc., Sr. Unsecd. Note, Series WI, 3.844%, 5/1/2025 158,194 300,000 Leidos, Inc., Sr. Unsecd. Note, Series WI, 2.300%, 2/15/2031 293,460 215,000 Leidos, Inc., Sr. Unsecd. Note, Series WI, 3.625%, 5/15/2025 234,715 180,000 Lockheed Martin Corp., Sr. Unsecd. Note, 3.550%, 1/15/2026 199,037 90,000 4 Financial Corp., Jr. Sub. Note, 144A, 1.890% (3-month USLIBOR +1.735%), 2/15/2042 76,725 TOTAL 1,354,476 Capital Goods - Building Materials—0.0% 125,000 Allegion PLC, Sr. Unsecd. Note, 3.500%, 10/1/2029 136,044 Capital Goods - Construction Machinery—0.1% 195,000 Deere & Co., Sr. Unsecd. Note, 2.750%, 4/15/2025 208,220 Capital Goods - Diversified Manufacturing—0.0% 30,000 General Electric Capital Corp., Note, Series MTNA, 6.750%, 3/15/2032 41,615 75,000 Lennox International, Inc., Sr. Unsecd. Note, 1.700%, 8/1/2027 75,055 TOTAL 116,670 Communications - Cable & Satellite—0.0% 30,000 Charter Communications Operating, LLC/Charter Communications Operating Capital Corp., 5.050%, 3/30/2029 35,482 Communications - Media & Entertainment—0.1% 20,000 Discovery Communications LLC, Sr. Unsecd. Note, 4.900%, 3/11/2026 22,820 70,000 Grupo Televisa S.A., Sr. Unsecd. Note, 6.125%, 1/31/2046 95,904 400,000 ViacomCBS, Inc., Sr. Unsecd. Note, 4.750%, 5/15/2025 452,902 TOTAL 571,626 Communications - Telecom —0.0% 80,000 T-Mobile USA, Inc., 2.250%, 11/15/2031 79,216 Communications - Telecom Wirelines—0.1% 364,000 AT&T, Inc., Sr. Unsecd. Note, 144A, 3.550%, 9/15/2055 365,750 200,000 Verizon Communications, Inc., Sr. Unsecd. Note, 4.150%, 3/15/2024 217,725 TOTAL 583,475 Consumer Cyclical - Automotive—0.0% 70,000 Co., Sr. Unsecd. Note, 4.000%, 4/1/2025 76,585 Consumer Cyclical - Retailers—0.3% 600,000 Advance Auto Parts, Inc., Sr. Unsecd. Note, Series WI, 3.900%, 4/15/2030 670,406 225,000 AutoNation, Inc., Sr. Unsecd. Note, 4.750%, 6/1/2030 266,405 300,000 AutoZone, Inc., Sr. Unsecd. Note, 3.250%, 4/15/2025 322,825 73,438 CVS Health Corp., Pass Thru Cert., 144A, 5.298%, 1/11/2027 80,596 TOTAL 1,340,232 Consumer Cyclical - Services—0.1% 200,000 Alibaba Group Holding Ltd., Sr. Unsecd. Note, 2.800%, 6/6/2023 208,026

FGAF-18 Shares, Principal Amount or Contracts Value $ 130,000 Visa, Inc., Sr. Unsecd. Note, 3.150%, 12/14/2025 $ 142,301 TOTAL 350,327 Consumer Non-Cyclical - Food/Beverage—0.2% 210,000 Flowers Foods, Inc., Sr. Unsecd. Note, 3.500%, 10/1/2026 228,854 157,000 Kraft Heinz Foods Co., Sr. Unsecd. Note, 3.950%, 7/15/2025 174,709 120,000 Mead Johnson Nutrition Co., Sr. Unsecd. Note, 4.125%, 11/15/2025 135,053 70,000 PepsiCo, Inc., Sr. Unsecd. Note, 4.450%, 4/14/2046 90,463 TOTAL 629,079 Consumer Non-Cyclical - Health Care—0.2% 210,000 Agilent Technologies, Inc., Sr. Unsecd. Note, 2.750%, 9/15/2029 220,053 180,000 Dentsply Sirona, Inc., Sr. Unsecd. Note, 3.250%, 6/1/2030 192,730 400,000 PerkinElmer, Inc., Sr. Unsecd. Note, 3.300%, 9/15/2029 433,558 75,000 Thermo Fisher Scientific, Inc., Sr. Unsecd. Note, 4.133%, 3/25/2025 83,195 TOTAL 929,536 Consumer Non-Cyclical - Pharmaceuticals—0.1% 90,000 Gilead Sciences, Inc., Sr. Unsecd. Note, 3.650%, 3/1/2026 99,269 190,000 Zoetis, Inc., Sr. Unsecd. Note, 3.000%, 5/15/2050 196,674 TOTAL 295,943 Consumer Non-Cyclical - Tobacco—0.4% EUR 870,000 Philip Morris International, Inc., Sr. Unsecd. Note, 2.875%, 5/14/2029 1,222,020 $ 200,000 Reynolds American, Inc., Sr. Unsecd. Note, 5.850%, 8/15/2045 245,274 TOTAL 1,467,294 Energy - Independent—0.1% 400,000 Pioneer Natural Resources, Inc., Sr. Unsecd. Note, 2.150%, 1/15/2031 392,516 Energy - Integrated—0.3% 340,000 Exxon Mobil Corp., Sr. Unsecd. Note, 2.992%, 3/19/2025 364,888 100,000 Husky Energy, Inc., Sr. Unsecd. Note, 3.950%, 4/15/2022 101,802 35,000 Petro-Canada, Deb., 7.000%, 11/15/2028 45,977 EUR 600,000 Petroleos Mexicanos, Sr. Unsecd. Note, Series EMTN, 1.875%, 4/21/2022 714,537 TOTAL 1,227,204 Energy - Midstream—0.1% $ 325,000 Energy Transfer Partners LP, Sr. Unsecd. Note, 4.050%, 3/15/2025 352,660 80,000 MPLX LP, Sr. Unsecd. Note, 4.125%, 3/1/2027 89,457 TOTAL 442,117 Energy - Refining—0.1% 250,000 Marathon Petroleum Corp., Sr. Unsecd. Note, 4.750%, 9/15/2044 296,737 Financial Institution - Banking—0.5% 100,000 Bank of America Corp., Sr. Unsecd. Note, Series MTN, 4.875%, 4/1/2044 130,226 300,000 Bank of America Corp., Sub. Note, Series MTN, 4.000%, 1/22/2025 329,381 250,000 Citizens Bank N.A., Sr. Unsecd. Note, Series BKNT, 3.750%, 2/18/2026 276,908 250,000 Compass Bank, Birmingham, Sub. Note, Series BKNT, 3.875%, 4/10/2025 275,593 5,000 Goldman Sachs Group, Inc., Sr. Unsecd. Note, 5.750%, 1/24/2022 5,155 100,000 JPMorgan Chase & Co., Series S, 6.750%, 8/1/2069 110,948 50,000 JPMorgan Chase & Co., Sub. Note, 3.375%, 5/1/2023 52,652 400,000 Morgan Stanley, 4.300%, 1/27/2045 495,280 70,000 Morgan Stanley, Sr. Unsecd. Note, Series MTN, 1.794%, 2/13/2032 67,320 21,306 3 Regional Diversified Funding, 144A, 9.250%, 3/15/2030 8,948 300,000 US Bancorp, Sr. Unsecd. Note, Series MTN, 1.375%, 7/22/2030 289,510 TOTAL 2,041,921 Financial Institution - Broker/Asset Mgr/Exchange—0.1% 140,000 Invesco Finance PLC, Sr. Unsecd. Note, 3.750%, 1/15/2026 155,011 70,000 TIAA Asset Management Finance Co. LLC, Sr. Unsecd. Note, 144A, 4.125%, 11/1/2024 77,221 TOTAL 232,232 Financial Institution - Insurance - Life—0.0% 27,000 Aflac, Inc., Sr. Unsecd. Note, 6.450%, 8/15/2040 39,049 10,000 MetLife, Inc., Jr. Sub. Note, 10.750%, 8/1/2039 17,320 105,000 Northwestern Mutual Life Insurance Co., Sr. Unsecd. Note, 144A, 3.625%, 9/30/2059 115,781 TOTAL 172,150

FGAF-19 Shares, Principal Amount or Contracts Value Financial Institution - Insurance - P&C—0.1% $ 30,000 Nationwide Mutual Insurance Co., Sub. Note, 144A, 9.375%, 8/15/2039 $ 52,313 75,000 Nationwide Mutual Insurance Co., Sub., 144A, 4.350%, 4/30/2050 84,207 275,000 Nationwide Mutual Insurance Co., Sub., 144A, 4.950%, 4/22/2044 330,502 TOTAL 467,022 Financial Institution - REIT - Apartment—0.1% 300,000 Mid-America Apartment Communities LP, Sr. Unsecd. Note, 3.750%, 6/15/2024 324,600 140,000 UDR, Inc., Sr. Unsecd. Note, Series MTN, 2.950%, 9/1/2026 149,815 TOTAL 474,415 Financial Institution - REIT - Other—0.1% 90,000 WP Carey, Inc., Sr. Unsecd. Note, 3.850%, 7/15/2029 99,758 160,000 WP Carey, Inc., Sr. Unsecd. Note, 4.600%, 4/1/2024 174,852 TOTAL 274,610 Financial Institution - REIT - Retail—0.1% 400,000 Kimco Realty Corp., Sr. Unsecd. Note, 2.700%, 10/1/2030 411,576 30,000 Kimco Realty Corp., Sr. Unsecd. Note, 3.400%, 11/1/2022 31,039 TOTAL 442,615 Financial Institution - REITs—0.0% 70,000 Camden Property Trust, Sr. Unsecd. Note, 2.800%, 5/15/2030 74,300 Food Products—0.0% INR 73,689 Britannia Industries Ltd., Unsecd. Note, 5.500%, 6/3/2024 1,004 Foreign-Local-Government—0.0% $ 50,000 Quebec, Province of, Note, Series MTNA, 7.035%, 3/10/2026 62,767 Municipal Services—0.1% 130,824 Army Hawaii Family Housing, 144A, 5.524%, 6/15/2050 173,544 100,000 Camp Pendleton & Quantico Housing LLC, 5.572%, 10/1/2050 122,139 TOTAL 295,683 Sovereign—0.1% JPY 30,000,000 KFW, 2.050%, 2/16/2026 298,401 Technology—0.3% $ 45,000 Broadcom, Inc., Sr. Unsecd. Note, 144A, 3.750%, 2/15/2051 47,050 320,000 Dell International LLC / EMC Corp., 6.020%, 6/15/2026 384,342 280,000 Intel Corp., Sr. Unsecd. Note, 3.400%, 3/25/2025 306,098 300,000 Keysight Technologies, Inc., 4.550%, 10/30/2024 333,538 380,000 Molex Electronics Technologies LLC, Unsecd. Note, 144A, 3.900%, 4/15/2025 390,422 TOTAL 1,461,450 Transportation - Airlines—0.0% 140,000 Southwest Airlines Co., Sr. Unsecd. Note, 5.250%, 5/4/2025 159,821 Transportation - Services—0.1% 62,000 Enterprise Rent-A-Car USA Finance Co., Sr. Unsecd. Note, 144A, 3.850%, 11/15/2024 67,635 160,000 United Parcel Service, Inc., Sr. Unsecd. Note, 3.900%, 4/1/2025 177,153 TOTAL 244,788 Utility - Electric—0.7% 155,000 Berkshire Hathaway Energy Co., Sr. Unsecd. Note, Series WI, 4.050%, 4/15/2025 172,227 135,000 Consolidated Edison Co., Sr. Unsecd. Note, Series 20B, 3.950%, 4/1/2050 153,610 275,000 Electricite de France SA, Sr. Unsecd. Note, 144A, 4.500%, 9/21/2028 320,625 190,000 Emera US Finance LP, Sr. Unsecd. Note, 4.750%, 6/15/2046 226,049 400,000 Enel Finance International NV, Sr. Unsecd. Note, 144A, 2.650%, 9/10/2024 420,736 300,000 Exelon Corp., Sr. Unsecd. Note, 3.400%, 4/15/2026 326,904 160,000 Florida Power & Light Co., Sec. Fac. Bond, 2.850%, 4/1/2025 171,177 140,000 National Rural Utilities Cooperative Finance Corp., Sr. Sub. Note, 5.250%, 4/20/2046 151,817 200,000 NiSource Finance Corp., Sr. Unsecd. Note, 3.950%, 3/30/2048 229,249 400,000 Northeast Utilities, Sr. Unsecd. Note, Series H, 3.150%, 1/15/2025 427,351 125,000 Wisconsin Electric Power Co., Sr. Unsecd. Note, 4.300%, 12/15/2045 150,223 TOTAL 2,749,968 Utility - Natural Gas—0.1% 495,000 National Fuel Gas Co., Sr. Unsecd. Note, 5.500%, 1/15/2026 573,362 TOTAL CORPORATE BONDS 20,665,222

FGAF-20 Shares, Principal Amount or Contracts Value U.S. TREASURIES—1.1% Treasury Inflation-Indexed Note—0.8% $ 1,743,520 U.S. Treasury Inflation-Protected Notes, 0.125%, 1/15/2031 $ 1,918,412 640,919 U.S. Treasury Inflation-Protected Notes, 0.125%, 2/15/2051 701,359 612,685 U.S. Treasury Inflation-Protected Notes, 0.250%, 2/15/2050 690,395 TOTAL 3,310,166 U.S. Treasury Bond—0.0% 175,000 United States Treasury Bonds, 1.875%, 2/15/2051 166,616 3,000 United States Treasury Bonds, 3.000%, 11/15/2045 3,540 TOTAL 170,156 U.S. Treasury Note—0.3% 100,000 United States Treasury Notes, 0.750%, 4/30/2026 99,494 100,000 United States Treasury Notes, 1.125%, 2/15/2031 97,062 810,000 United States Treasury Notes, 1.625%, 5/15/2031 822,530 TOTAL 1,019,086 TOTAL U.S. TREASURIES 4,499,408 ASSET-BACKED SECURITIES—0.8% Auto Receivables—0.3% 475,000 Santander Drive Auto Receivables Trust 2020-2, Class C, 1.460%, 9/15/2025 481,983 500,000 Toyota Auto Receivables Owner Trust 2020-B, Class A4, 1.660%, 9/15/2025 514,298 134,923 World Omni Auto Receivables Trust 2018-B, Class A3, 2.870%, 7/17/2023 136,228 285,000 World Omni Auto Receivables Trust 2021-A, Class C, 0.890%, 8/16/2027 283,259 TOTAL 1,415,768 Credit Card—0.2% 700,000 4 Trillium Credit Card Trust II 2020-1A, Class A, 0.465% (1-month USLIBOR +0.370%), 12/26/2024 701,904 Equipment Lease—0.2% 300,000 CNH Equipment Trust 2020-A, Class A3, 1.160%, 6/16/2025 303,722 500,000 HPEFS Equipment Trust 2020-2A, Class C, 2.000%, 7/22/2030 504,961 TOTAL 808,683 Other—0.1% 300,000 PFS Financing Corp. 2020-G, Class A, 0.970%, 2/15/2026 303,383 Student Loans—0.0% 148,097 Navient Student Loan Trust 2021-A, Class A, 0.840%, 5/15/2069 148,555 TOTAL ASSET-BACKED SECURITIES 3,378,293 GOVERNMENT AGENCIES—0.2% Federal Home Loan Bank System—0.0% 200,000 Federal Home Loan Bank System Notes, 0.500%, 4/14/2025 198,605 Federal National Mortgage Association—0.2% 635,000 Federal National Mortgage Association Notes, 0.625%, 4/22/2025 633,918 TOTAL GOVERNMENT AGENCIES 832,523 COMMERCIAL MORTGAGE-BACKED SECURITIES—0.2% Agency Commercial Mortgage-Backed Securities—0.2% 111,775 Federal Home Loan Mortgage Corp. REMIC, Series K055, Class A1, 2.263%, 4/25/2025 115,227 500,000 Federal Home Loan Mortgage Corp. REMIC, Series K737, Class A2, 2.525%, 10/25/2026 534,133 TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES 649,360 COLLATERALIZED MORTGAGE OBLIGATIONS—0.1% Commercial Mortgage—0.1% 255,000 Bank, Class A4, 3.488%, 11/15/2050 282,800 300,000 JPMDB Commercial Mortgage Securities Trust 2016-C4, Class A3, 3.141%, 12/15/2049 325,061 TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS 607,861 MORTGAGE-BACKED SECURITIES—0.0% Federal Home Loan Mortgage Corporation REMIC—0.0% 950 Federal Home Loan Mortgage Corp., Pool C00592, 7.000%, 3/1/2028 1,073 698 Federal Home Loan Mortgage Corp., Pool C00896, 7.500%, 12/1/2029 807 910 Federal Home Loan Mortgage Corp., Pool C19588, 6.500%, 12/1/2028 1,034 424 Federal Home Loan Mortgage Corp., Pool C25621, 6.500%, 5/1/2029 484 677 Federal Home Loan Mortgage Corp., Pool C76361, 6.000%, 2/1/2033 788 1,443 Federal Home Loan Mortgage Corp., Pool G01444, 6.500%, 8/1/2032 1,675 TOTAL 5,861

FGAF-21 Shares, Principal Amount or Contracts Value Federal National Mortgage Association—0.0% $ 864 Federal National Mortgage Association, Pool 251697, 6.500%, 5/1/2028 $ 966 3,381 Federal National Mortgage Association, Pool 252334, 6.500%, 2/1/2029 3,780 2,422 Federal National Mortgage Association, Pool 254905, 6.000%, 10/1/2033 2,819 1,824 Federal National Mortgage Association, Pool 255075, 5.500%, 2/1/2024 2,034 225 Federal National Mortgage Association, Pool 303168, 9.500%, 2/1/2025 246 154 Federal National Mortgage Association, Pool 323159, 7.500%, 4/1/2028 175 1,426 Federal National Mortgage Association, Pool 323640, 7.500%, 4/1/2029 1,607 3,597 Federal National Mortgage Association, Pool 545993, 6.000%, 11/1/2032 4,159 1,502 Federal National Mortgage Association, Pool 555272, 6.000%, 3/1/2033 1,735 994 Federal National Mortgage Association, Pool 713974, 5.500%, 7/1/2033 1,142 2,643 Federal National Mortgage Association, Pool 721502, 5.000%, 7/1/2033 2,976 TOTAL 21,639 Government National Mortgage Association—0.0% 3,628 Government National Mortgage Association, Pool 2796, 7.000%, 8/20/2029 4,127 2,196 Government National Mortgage Association, Pool 3040, 7.000%, 2/20/2031 2,528 5,500 Government National Mortgage Association, Pool 3188, 6.500%, 1/20/2032 6,321 7,100 Government National Mortgage Association, Pool 3239, 6.500%, 5/20/2032 8,201 78 Government National Mortgage Association, Pool 352214, 7.000%, 4/15/2023 81 1,173 Government National Mortgage Association, Pool 451522, 7.500%, 10/15/2027 1,325 695 Government National Mortgage Association, Pool 462556, 6.500%, 2/15/2028 771 230 Government National Mortgage Association, Pool 462739, 7.500%, 5/15/2028 260 88 Government National Mortgage Association, Pool 464835, 6.500%, 9/15/2028 98 1,559 Government National Mortgage Association, Pool 469699, 7.000%, 11/15/2028 1,757 1,481 Government National Mortgage Association, Pool 486760, 6.500%, 12/15/2028 1,666 75 Government National Mortgage Association, Pool 780339, 8.000%, 12/15/2023 79 1,080 Government National Mortgage Association, Pool 780453, 7.500%, 12/15/2025 1,187 1,134 Government National Mortgage Association, Pool 780584, 7.000%, 6/15/2027 1,244 TOTAL 29,645 TOTAL MORTGAGE-BACKED SECURITIES 57,145 WARRANT—0.0% Energy—0.0% 36 1 Nabors Industries Ltd., Warrants 360 PURCHASED CALL OPTIONS—0.0% 3,000,000 JPM EUR CALL/USD PUT, Notional Amount $3,000,000, Exercise Price, $1.23, Expiration Date 9/16/2021 4,952 57,330 JPM USD CALL/CAD PUT, Notional Amount $57,330, Exercise Price, $1.22, Expiration Date 7/2/2021 867 TOTAL PURCHASED CALL OPTIONS 5,819 PURCHASED PUT OPTIONS—0.0% 54,540 JPM EUR PUT/USD CALL, Notional Amount $54,540, Exercise Price, $1.21, Expiration Date 7/2/2021 1,172 2,200,000 JPM USD PUT/JPY CALL, Notional Amount $2,20,000, Exercise Price, $109.50, Expiration Date 7/1/2021 2 TOTAL PURCHASED PUT OPTIONS 1,174 EXCHANGE-TRADED FUND—0.2% 26,395 iShares MSCI Saudi Arabia ETF 1,040,491 INVESTMENT COMPANIES—17.0% 5 355,666 Bank Loan Core Fund 3,446,404 6 4,044,598 Emerging Markets Core Fund 41,538,026 7 10,773,404 Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 0.03% 10,777,713 8,9 486,095 High Yield Bond Core Fund 3,115,872 10 956,016 Mortgage Core Fund 9,454,999 11 368,092 Project and Trade Finance Core Fund 3,264,973 TOTAL INVESTMENT COMPANIES 71,597,987 TOTAL INVESTMENT IN SECURITIES 410,850,901

FGAF-22 At June 30, 2021, the Fund had the following outstanding futures contracts: Value and Unrealized Number of Notional Expiration Appreciation Description Contracts Value Date (Depreciation) Long Futures: 1 Hang Seng Index Long Futures 9 $1,659,325 July 2021 $(28,539) 1 United States Treasury Long Bond Long Futures 4 $643,000 September 2021 $20,302 1 S&P 500 E-Mini Long Futures 97 $20,799,710 September 2021 $313,851 1 Index Long Futures 6 $1,037,764 July 2021 $14,679 1 Australia 10-Year Bond Long Futures 209 $22,129,903 September 2021 $32,858 1 United States Treasury Notes 2-Year Long Futures 45 $9,914,414 September 2021 $(14,751) 1 Euro BTP Long Futures 3 $538,603 September 2021 $(3,171) 1 FTSE 100 Index Long Futures 54 $5,214,308 September 2021 $(62,298) 1 FTSE JSE Top 40 Long Futures 95 $3,983,347 September 2021 $17,953 1 FTSE/MIB Index Long Futures 40 $5,929,699 September 2021 $(114,778) 1 IBEX 35 Index Long Futures 68 $7,086,095 July 2021 $(174,231) 1 Long GILT Long Futures 182 $32,250,532 September 2021 $76,267 1 TOPIX Index Long Futures 14 $2,448,535 September 2021 $(19,642) Short Futures: 1 United States Treasury Notes 5-Year Short Futures 12 $1,481,156 September 2021 $3,021 1 CAC 40 10-Year Euro Short Futures 99 $7,636,172 July 2021 $121,799 1 United States Treasury Notes 10-Year Short Futures 75 $9,937,500 September 2021 $(47,149) 1 DAX Index Short Futures 7 $3,222,157 September 2021 $(21,493) 1 United States Treasury Notes 10-Year Ultra Short Futures 15 $2,208,047 September 2021 $(36,808) 1 Euro Bund Short Futures 148 $30,291,505 September 2021 $(53,732) 1 FTSE Taiwan Index Short Futures 101 $6,162,010 July 2021 $(79,072) 1 Japan 10-Year Bond Short Futures 1 $1,365,408 September 2021 $1,939 1 MSCI Singapore IX ETS Short Futures 212 $5,603,882 July 2021 $(16,633) 1 S&P/TSX 60 IX Short Futures 52 $10,090,416 September 2021 $(105,121) 1 SPI 200 Short Futures 67 $9,073,290 September 2021 $57,764 NET UNREALIZED DEPRECIATION ON FUTURES CONTRACTS $(116,985)

FGAF-23 At June 30, 2021, the Fund had the following outstanding foreign exchange contracts: Foreign Currency In Net Unrealized Settlement Units to Exchange Appreciation/ Date Counterparty Deliver/Receive For (Depreciation) Contracts Purchased: 7/6/2021 Bank of America, N.A. 3,301,000 AUD $2,487,819 $ (12,177) 7/6/2021 Bank PLC Wholesale 70,000 CAD $56,432 $ 38 7/6/2021 Bank of America, N.A. 2,772,000 CAD $2,241,700 $ (5,505) 7/6/2021 Bank of New York 7,000 EUR $8,326 $ (25) 7/6/2021 JPMorgan Chase 38,000 EUR $45,718 $ (655) 7/6/2021 JPMorgan Chase 59,176 EUR $71,917 $ (1,743) 7/6/2021 JPMorgan Chase 1,903,000 EUR $2,268,833 $ (12,155) 7/6/2021 Barclays Bank PLC Wholesale 17,537,000 MXN $849,389 $ 29,923 7/6/2021 Citibank N.A. 20,240,000 SEK $2,372,922 $ (7,817) 7/27/2021 Citibank N.A. 1,100,000 AUD 1,185,736 NZD $ (3,736) 7/27/2021 Bank of America, N.A. 400,000 AUD $310,324 $ (10,306) 7/27/2021 JPMorgan Chase 1,800,000 AUD $1,380,388 $ (30,307) 7/27/2021 JPMorgan Chase 4,800,000 AUD $3,591,122 $ 9,093 7/27/2021 Barclays Bank PLC Wholesale 2,000,000 BRL $358,452 $ 42,590 7/27/2021 JPMorgan Chase 2,000,000 BRL $370,542 $ 30,500 7/27/2021 JPMorgan Chase 590,167 CAD 400,000 EUR $ 1,542 7/27/2021 State Street Bank & Trust Co. 435,128 CAD 250,000 GBP $ 5,167 7/27/2021 State Street Bank & Trust Co. 1,800,000 CAD 155,782,620 JPY $ 49,528 7/27/2021 Citibank N.A. 2,600,000 CAD 234,370,500 JPY $ (12,649) 7/27/2021 BNP Paribas SA 800,000 CAD 2,445,538 PLN $ 3,910 7/27/2021 Credit Agricole CIB 250,000,000 CLP $362,041 $ (21,831) 7/27/2021 JPMorgan Chase 300,000 EUR $361,232 $ (5,322) 7/27/2021 Citibank N.A. 300,000 EUR $363,620 $ (7,710) 7/27/2021 Citibank N.A. 540,000 EUR $651,076 $ (10,439) 7/27/2021 JPMorgan Chase 900,000 EUR $1,088,991 $ (21,263) 7/27/2021 Bank of America, N.A. 1,800,000 EUR $2,200,689 $ (65,232) 7/27/2021 State Street Bank & Trust Co. 250,000 GBP 2,970,571 NOK $ 799 7/27/2021 JPMorgan Chase 1,000,000 GBP $1,388,386 $ (4,981) 7/27/2021 State Street Bank & Trust Co. 38,198,719 JPY 432,000 CAD $ (4,586) 7/27/2021 Bank of America, N.A. 45,156,082 JPY 504,000 CAD $ (30) 7/27/2021 Citibank N.A. 77,289,527 JPY $700,000 $ (4,151) 7/27/2021 JPMorgan Chase 77,566,419 JPY $700,000 $ (1,658) 7/27/2021 Citibank N.A. 152,623,604 JPY $1,400,000 $ (25,908) 7/27/2021 Bank of New York 243,825,560 JPY $2,200,000 $ (4,804) 7/27/2021 BNP Paribas SA 556,134,286 JPY $5,150,000 $(143,044) 7/27/2021 Morgan Stanley 614,190,000 KRW $554,707 $ (9,397) 7/27/2021 HSBC Bank USA 884,460,000 KRW $788,964 $ (3,695) 7/27/2021 BNP Paribas SA 927,909,000 KRW $818,516 $ 5,329 7/27/2021 HSBC Bank USA 2,071,691,000 KRW $1,864,977 $ (25,624) 7/27/2021 State Street Bank & Trust Co. 12,090,158 MXN $600,000 $ 4,653 7/27/2021 Credit Agricole CIB 14,060,192 MXN $700,000 $ 3,179 7/27/2021 Citibank N.A. 2,999,914 NOK 250,000 GBP $ 2,609 7/27/2021 Bank of America, N.A. 700,000 PEN $185,107 $ (2,915) 7/27/2021 JPMorgan Chase 837,751 PLN $220,000 $ (263) 7/27/2021 Citibank N.A. 3,348,399 PLN $880,000 $ (1,734) 7/27/2021 Citibank N.A. 3,774,638 PLN $1,000,000 $ (9,934) 7/27/2021 Credit Agricole CIB 36,000,000 RUB $469,256 $ 21,256

FGAF-24 Foreign Currency In Net Unrealized Settlement Units to Exchange Appreciation/ Date Counterparty Deliver/Receive For (Depreciation) 12/9/2021 JPMorgan Chase 78,706 AUD $60,611 $ (1,544) 12/9/2021 Morgan Stanley 45,000 EUR $55,056 $ (1,510) 12/9/2021 Morgan Stanley 1,170,000,000 IDR $80,640 $ (970) 12/9/2021 Barclays Bank PLC Wholesale 6,000,000 INR $80,591 $ (1,308) 12/9/2021 JPMorgan Chase 1,251,597 MXN $61,053 $ 427 12/16/2021 BNP Paribas SA 2,300,000 CNY $349,237 $ 2,739 12/21/2021 Citibank N.A. 70,269 CAD $58,144 $ (1,451) 12/21/2021 Bank of America, N.A. 40,970 GBP $56,854 $ (147) Contracts Sold: 7/6/2021 257,057,000 JPY $2,333,717 $ 19,799 7/6/2021 Morgan Stanley 7,825,000 TRY $885,655 $ (10,822) 7/27/2021 Citibank N.A. 1,100,000 AUD 1,170,415 NZD $ (6,973) 7/27/2021 Citibank N.A. 738,462 AUD $559,650 $ 5,771 7/27/2021 JPMorgan Chase 923,077 AUD $694,159 $ 1,810 7/27/2021 Bank of New York 923,077 AUD $701,984 $ 9,635 7/27/2021 Morgan Stanley 1,107,692 AUD $832,929 $ 2,110 7/27/2021 Citibank N.A. 1,107,692 AUD $835,436 $ 4,617 7/27/2021 Bank of America, N.A. 1,800,000 AUD $1,391,346 $ 41,265 7/27/2021 Credit Agricole CIB 2,000,000 BRL $364,281 $ (36,761) 7/27/2021 Bank of America, N.A. 585,594 CAD 400,000 EUR $ 2,147 7/27/2021 Citibank N.A. 589,124 CAD 400,000 EUR $ (701) 7/27/2021 Morgan Stanley 431,207 CAD 250,000 GBP $ (2,004) 7/27/2021 State Street Bank & Trust Co. 360,000 CAD 31,340,621 JPY $ (8,248) 7/27/2021 Morgan Stanley 504,000 CAD 44,625,208 JPY $ (4,810) 7/27/2021 BNP Paribas SA 2,600,000 CAD 232,704,628 JPY $ (2,349) 7/27/2021 State Street Bank & Trust Co. 800,000 CAD 2,478,439 PLN $ 4,720 7/27/2021 Barclays Bank PLC Wholesale 731,203 CHF $800,000 $ 9,199 7/27/2021 JPMorgan Chase 250,000,000 CLP $352,545 $ 12,335 7/27/2021 JPMorgan Chase 1,700,000 EUR $2,075,710 $ 58,890 7/27/2021 State Street Bank & Trust Co. 1,800,000 EUR $2,200,293 $ 64,836 7/27/2021 JPMorgan Chase 400,000 GBP $565,724 $ 12,362 7/27/2021 State Street Bank & Trust Co. 500,000 GBP $707,435 $ 15,733 7/27/2021 State Street Bank & Trust Co. 37,597,490 JPY $350,000 $ 11,504 7/27/2021 Morgan Stanley 37,976,876 JPY $350,000 $ 8,089 7/27/2021 State Street Bank & Trust Co. 76,011,467 JPY $700,000 $ 15,658 7/27/2021 JPMorgan Chase 77,143,283 JPY $700,000 $ 5,468 7/27/2021 JPMorgan Chase 242,501,226 JPY $2,200,000 $ 16,727 7/27/2021 JPMorgan Chase 243,040,006 JPY $2,200,000 $ 11,876 7/27/2021 HSBC Bank USA 159,909,000 KRW $143,555 $ 1,580 7/27/2021 HSBC Bank USA 568,836,000 KRW $505,803 $ 761 7/27/2021 BNP Paribas SA 2,849,978,000 KRW $2,560,083 $ 29,727 7/27/2021 BNP Paribas SA 6,010,248 MXN $300,000 $ (585) 7/27/2021 JPMorgan Chase 14,118,838 MXN $700,000 $ (6,112) 7/27/2021 BNP Paribas SA 20,053,207 MXN $1,000,000 $ (2,902) 7/27/2021 Citibank N.A. 7,966,386 PLN $2,100,000 $ 10,463 7/27/2021 Goldman Sachs 36,000,000 RUB $480,173 $ (10,339) 7/27/2021 Bank of America, N.A. 5,541,011 ZAR $400,000 $ 13,172 NET UNREALIZED APPRECIATION ON FOREIGN EXCHANGE CONTRACTS $ 32,404

FGAF-25 At June 30, 2021, the Fund had the following outstanding written options contracts: Notional Expiration Exercise Counterparty Description Amount Date Price Value Put Option: JPM EUR PUT/USD CALL $3,000,000 September 2021 $1.18 $(32,421) (Premiums Received $15,091) $(32,421)

1 Non-income-producing security. 2 Denotes a restricted security that either: (a) cannot be offered for public sale without first being registered, or availing of an exemption from registration, under the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At June 30, 2021, these restricted securities amounted to $465,808, which represented 0.1% of total net assets. 3 Market quotations and price evaluations are not available. Fair value determined using significant unobservable inputs in accordance with procedures established by and under the general supervision of the Fund’s Board of Trustees (the "Trustees"). 4 Floating/variable note with current rate and current maturity or next reset date shown. 5 Affiliated Federated Fund (Bank Loan) 6 Affiliated Federated Fund (Emerging Markets) 7 7-day net yield. 8 The High Yield Portfolio is a diversified portfolio of below investment bonds. 9 Affiliated Federated Fund (High Yield) 10 Affiliated Federated Fund (Mortgage) 11 Affiliated Federated Fund (Project and Trade Finance)

Note: The categories of investments are shown as a percentage of net assets $421,330,447 at the close of business on June 30, 2021, and may not necessarily reflect adjustments that are routinely made when presenting net assets for formal financial statement purposes. The following acronym(s) are used throughout this portfolio:

ADR —American Depositary Receipt AUD —Australian Dollar BKNT —Bank Notes BRL —Brazilian Real CAD —Canadian Dollar CHF —Swiss Franc CLP —Chilean Peso CNY —Chinese Yuan Renminbi EMTN —Euro Medium Term Loan ETF —Exchange-Traded Fund EUR —Euro Currency GBP —British Pound GDR —Global Depository Receipt IDR —Indonesian Rupiah INR —Indian Rupee JPY —Japanese Yen KRW —Korean Won LIBOR — Interbank Offered Rate MTN —Medium Term Note MXN —Mexican Peso NOK —Norwegian Krone NZD —New Zealand Dollar PEN —Peruvian Nuevo Sol PLC —Public Limited Company

FGAF-26 PLN —Polish Zloty REIT —Real Estate Investment Trust REMIC —Real Estate Mortgage Investment Conduit RUB —Russian Ruble SEK —Swedish Krona USD —United States Dollar ZAR —South African Rand

Portfolio holdings are shown as of the date indicated and are unaudited. Since market conditions fluctuate suddenly and frequently, the portfolio holdings may change and this list is not indicative of future portfolio composition. These portfolio holdings are not intended to be and do not constitute recommendations that others buy, sell, or hold any of the securities listed. For more complete information on the fund, visit FederatedInvestors.com for a prospectus or a summary prospectus. You should consider the fund’s investment objectives, risks, charges, and expenses carefully before you invest. Information about these and other important subjects is in the fund’s prospectus or summary prospectus, which you should read carefully before investing.

NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE Federated Securities Corp., Distributor (32239) 6/30/2021

FGAF-27