Federated MDT Small Cap Core Fund

Federated MDT Small Cap Core Fund - Portfolio Holdings - March 31, 2020

CUSIP SECURITY DESCRIPTION CURRENT SHARES MARKET VALUE 336901103 1ST SOURCE CORP. 40,603.00 1,316,755.00 000361105 AAR CORP. 62,453.00 1,109,165.00 002535300 AARON'S, INC. 282,297.00 6,430,726.00 000957100 ABM INDUSTRIES, INC. 8,626.00 210,129.00 00434H108 1 ACCELERON PHARMA, INC. 26,888.00 2,416,425.00 00081T108 ACCO BRANDS CORP. 198,843.00 1,004,157.00 00484M106 1 ACORDA THERAPEUTICS, INC. 432,595.00 403,438.00 00ESC5984 1 ,2 ADEPTUS HEALTH, INC., CLASS A 66,205.00 0.00 008073108 1 AEROVIRONMENT, INC. 44,084.00 2,687,361.00 009728106 1 AKORN, INC. 761,927.00 427,594.00 012348108 ALBANY INTERNATIONAL CORP., CLASS A 12,613.00 596,973.00 014491104 ALEXANDER AND BALDWIN, INC. 57,711.00 647,517.00 01741R102 1 ALLEGHENY TECHNOLOGIES, INC. 353,572.00 3,005,362.00 01748X102 ALLEGIANT TRAVEL CO. 10,103.00 826,426.00 018522300 ALLETE, INC. 48,600.00 2,949,048.00 023436108 1 AMEDISYS, INC. 55,290.00 10,147,927.00 023576101 1 AMERANT BANCORP, INC 16,800.00 258,552.00 024061103 1 AMERICAN AXLE & MANUFACTURING HOLDINGS, INC. 516,998.00 1,866,363.00 030506109 1 AMERICAN WOODMARK CORP. 10,008.00 456,065.00 03168L105 1 AMNEAL PHARMACEUTICALS, INC 356,012.00 1,238,922.00 032724106 1 ANAPTYSBIO, INC. 47,349.00 669,041.00 00182C103 1 ANI PHARMACEUTICALS, INC. 21,168.00 862,384.00 039380407 ARCH COAL, INC. 101,277.00 2,926,905.00 039653100 ARCOSA, INC. 227,186.00 9,028,372.00 03969F109 1 ARCUS BIOSCIENCES, INC. 86,771.00 1,204,381.00 040047607 1 ARENA PHARMACEUTICALS, INC. 29,846.00 1,253,532.00 G0464B107 ARGO GROUP INTERNATIONAL HOLDINGS LTD. 37,361.00 1,384,599.00 04280A100 1 ARROWHEAD PHARMACEUTICALS, INC. 53,686.00 1,544,546.00 04335A105 1 ARVINAS, INC. 63,355.00 2,553,206.00 043436104 1 ASBURY AUTOMOTIVE GROUP, INC. 58,385.00 3,224,603.00 04351G200 1 ASCENA RETAIL GROUP, INC. 2,183.00 3,034.00 00191U102 1 ASGN, INC. 38,742.00 1,368,367.00 04545L107 1 ASSERTIO THERAPEUTICS, INC. 545,846.00 354,800.00 046513107 1 ATARA BIOTHERAPEUTICS, INC. 101,368.00 862,642.00 04744L106 1 ATHERSYS, INC. 136,423.00 409,269.00 047649108 1 ATKORE INTERNATIONAL GROUP, INC. 238,088.00 5,016,514.00 04911A107 ATLANTIC UNION BANKSHARES CORP. 23,610.00 517,059.00 05464T104 1 AXSOME THERAPEUTICS, INC. 7,444.00 437,931.00 05945F103 BANCFIRST CORP. 49,910.00 1,665,497.00 05971J102 BANCORPSOUTH BANK 178,083.00 3,369,330.00 06652V208 BANNER CORP. 37,310.00 1,232,722.00 073685109 1 BEACON ROOFING SUPPLY, INC. 74,505.00 1,232,313.00 075896100 BED BATH & BEYOND, INC. 148,621.00 625,694.00 084680107 BERKSHIRE HILLS BANCORP, INC. 82,387.00 1,224,271.00 09075P105 1 BIOXCEL THERAPEUTICS, INC. 30,743.00 687,106.00 094235108 BLOOMIN BRANDS, INC. 75,936.00 542,183.00 095229100 1 BLUCORA, INC. 267,016.00 3,217,543.00 09739D100 BOISE CASCADE CO. 70,821.00 1,684,123.00 12008R107 1 BUILDERS FIRSTSOURCE, INC. 196,826.00 2,407,182.00 130788102 CALIFORNIA WATER SERVICE GROUP 16,625.00 836,570.00 G1991C105 1 CARDTRONICS, INC. 185,239.00 3,875,200.00 144285103 CARPENTER TECHNOLOGY CORP. 86,425.00 1,685,288.00 14575E105 1 CARS.COM, INC. 789,440.00 3,394,592.00 14888U101 1 CATALYST PHARMACEUTICAL PARTNERS, INC. 119,739.00 460,995.00

Federated MDT Small Cap Core Fund - Portfolio Holdings - March 31, 2020

CUSIP SECURITY DESCRIPTION CURRENT SHARES MARKET VALUE 125141101 1 CECO ENVIRONMENTAL CORP. 218,403.00 1,019,942.00 153527205 1 CENTRAL GARDEN & PET CO., CLASS A 43,251.00 1,105,928.00 16208T102 CHATHAM LODGING TRUST 54,524.00 323,873.00 163072101 CHEESECAKE FACTORY, INC. 24,619.00 420,492.00 16383L106 1 CHEMOCENTRYX, INC. 12,988.00 521,858.00 168905107 CHILDREN'S PLACE, INC./THE 4,390.00 85,868.00 G2143T103 1 CIMPRESS PLC 6,509.00 346,279.00 172755100 1 CIRRUS LOGIC, INC. 94,130.00 6,177,752.00 178587101 CITY OFFICE REIT, INC. 50,029.00 361,710.00 18539C105 CLEARWAY ENERGY, INC. 180,377.00 3,097,073.00 192108504 1 COEUR MINING, INC. 136,606.00 438,505.00 19239V302 COGENT COMMUNICATIONS HOLDINGS, INC. 132,330.00 10,847,090.00 19459J104 1 COLLEGIUM PHARMACEUTICAL, INC. 102,097.00 1,667,244.00 201723103 COMMERCIAL METALS CORP. 157,613.00 2,488,709.00 204166102 1 COMMVAULT SYSTEMS, INC. 114,031.00 4,615,975.00 205826209 COMTECH TELECOMMUNICATIONS CORP. 7,101.00 94,372.00 206787103 1 CONDUENT, INC. 1,377,096.00 3,373,885.00 207410101 CONMED CORP. 35,626.00 2,040,301.00 20854L108 1 CONSOL ENERGY, INC. 348,545.00 1,286,131.00 209034107 CONSOLIDATED COMMUNICATIONS HOLDINGS, INC. 151,037.00 687,218.00 21676P103 1 COOPER-STANDARD HOLDING, INC. 184,441.00 1,894,209.00 218352102 1 CORCEPT THERAPEUTICS, INC. 86,454.00 1,027,938.00 21871N101 CORECIVIC, INC. 86,389.00 964,965.00 Y1771G102 COSTAMARE, INC. 284,514.00 1,286,003.00 227046109 1 CROCS, INC. 67,940.00 1,154,300.00 22978P106 1 CUE BIOPHARMA, INC. 17,582.00 249,489.00 232109108 1 CUTERA, INC. 84,096.00 1,098,294.00 12662P108 CVR ENERGY, INC. 185,870.00 3,072,431.00 24344T101 1 DECIPHERA PHARMACEUTICALS, INC. 76,989.00 3,169,637.00 24665A103 DELEK US HOLDINGS, INC. 17,584.00 277,124.00 248019101 DELUXE CORP. 30,856.00 800,096.00 247916208 1 DENBURY RESOURCES, INC. 941,061.00 173,720.00 253031108 1 DICERNA PHARMACEUTICALS, INC. 51,178.00 940,140.00 253651103 1 DIEBOLD NIXDORF, INC. 90,028.00 316,899.00 25525P107 DIVERSIFIED HEALTHCARE TRUST 393,220.00 1,427,389.00 23291C103 DMC GLOBAL, INC. 4,270.00 98,253.00 257701201 DONEGAL GROUP, INC., CLASS A 13,440.00 204,288.00 268948106 EAGLE BANCORP, INC. 16,416.00 495,927.00 27616P103 EASTERLY GOVERNMENT PROPERTIES, INC. 385,158.00 9,490,293.00 277276101 EASTGROUP PROPERTIES, INC. 56,485.00 5,901,553.00 278715206 EBIX, INC. 36,136.00 548,544.00 27875T101 1 ECHO GLOBAL LOGISTICS, INC. 171,688.00 2,932,431.00 28238P109 1 EHEALTH, INC. 4,523.00 636,929.00 26856L103 1 ELF BEAUTY, INC. 192,449.00 1,893,698.00 29103W104 EMERALD HOLDING, INC. 492,517.00 1,275,619.00 292218104 EMPLOYERS HOLDINGS, INC. 118,756.00 4,810,806.00 29978A104 1 EVERBRIDGE, INC. 69,844.00 7,428,608.00 30034T103 1 EVERI HOLDINGS, INC. 287,639.00 949,209.00 30041R108 1 EVERQUOTE, INC. 34,847.00 914,734.00 30040P103 EVERTEC, INC. 49,313.00 1,120,884.00 30057T105 1 EVOQUA WATER TECHNOLOGIES CORP. 38,412.00 430,598.00 30214U102 EXPONENT, INC. 158,220.00 11,377,600.00 302301106 1 EZCORP, INC., CLASS A 272,495.00 1,136,304.00 31189P102 1 FATE THERAPEUTICS, INC. 215,916.00 4,795,494.00

FMSCC-2

Federated MDT Small Cap Core Fund - Portfolio Holdings - March 31, 2020

CUSIP SECURITY DESCRIPTION CURRENT SHARES MARKET VALUE 60934N583 3 FEDERATED INSTITUTIONAL PRIME VALUE OBLIGATIONS FUND, INSTITUTIONAL SHARES, 0.82% 8,343,347.00 8,338,341.00 317585404 FINANCIAL INSTITUTIONS, INC. 49,780.00 903,009.00 318672706 FIRST BANCORP 813,870.00 4,329,788.00 318910106 FIRST BANCORP, INC. 279,848.00 6,458,892.00 32006W106 FIRST DEFIANCE FINANCIAL CORP. 247,642.00 3,650,243.00 32026V104 FIRST FOUNDATION, INC. 47,849.00 489,017.00 32043P106 FIRST GUARANTY BANCSHARES, INC. 46,330.00 668,542.00 32054K103 FIRST INDUSTRIAL REALTY TRUST 33,158.00 1,101,840.00 32055Y201 FIRST INTERSTATE BANCSYSTEM, INC., CLASS A 27,755.00 800,454.00 338307101 1 FIVE9, INC. 124,880.00 9,548,325.00 346375108 1 FORMFACTOR, INC. 168,462.00 3,384,402.00 350392106 1 FOUNDATION BUILDING MATERIALS, INC. 269,319.00 2,771,292.00 351793203 1 FRANCESCA'S HOLDINGS CORP. 9,276.00 21,057.00 35803L108 1 FREQUENCY THERAPEUTICS, INC. 17,741.00 315,967.00 35906A306 1 FRONTIER COMMUNICATIONS CORP. 829,523.00 315,219.00 360271100 FULTON FINANCIAL CORP. 640,438.00 7,358,633.00 36237H101 1 G-III APPAREL GROUP LTD. 242,345.00 1,866,056.00 3621LQ109 1 G1 THERAPEUTICS, INC. 10,961.00 120,790.00 36467W109 1 GAMESTOP CORP. 233,768.00 818,188.00 37890U108 1 GLOBAL BLOOD THERAPEUTICS, INC. 69,239.00 3,537,421.00 379577208 1 GLOBUS MEDICAL, INC. 42,549.00 1,809,609.00 38000Q102 1 GLYCOMIMETICS, INC. 116,780.00 266,258.00 36251C103 1 GMS, INC. 257,497.00 4,050,428.00 387328107 GRANITE CONSTRUCTION, INC. 193,873.00 2,942,992.00 390607109 1 GREAT LAKES DREDGE & DOCK CORP. 156,712.00 1,300,710.00 39304D102 1 GREEN DOT CORP. 172,841.00 4,388,433.00 398905109 GROUP 1 AUTOMOTIVE, INC. 15,256.00 675,231.00 399473107 1 GROUPON, INC. 164,770.00 161,508.00 362393100 1 GTT COMMUNICATIONS, INC. 208,265.00 1,655,707.00 402307102 1 GULF ISLAND FABRICATION, INC. 132,871.00 398,613.00 410120109 HANCOCK WHITNEY CORP. 17,930.00 349,994.00 419879101 HAWAIIAN HOLDINGS, INC. 62,675.00 654,327.00 420877201 HAYNES INTERNATIONAL, INC. 78,975.00 1,627,675.00 421946104 HEALTHCARE REALTY TRUST, INC. 179,636.00 5,017,234.00 42234Q102 HEARTLAND FINANCIAL USA, INC. 53,626.00 1,619,505.00 422819102 HEIDRICK & STRUGGLES INTERNATIONAL, INC. 83,050.00 1,868,625.00 428567101 1 HIBBETT SPORTS, INC. 15,335.00 167,688.00 437872104 HOMETRUST BANCSHARES, INC. 101,332.00 1,613,205.00 447324104 HURCO CO., INC. 91,175.00 2,653,193.00 45245E109 1 IMAX CORP. 172,038.00 1,556,944.00 45253H101 1 IMMUNOGEN, INC. 67,089.00 228,774.00 45378A106 INDEPENDENCE REALTY TRUST 536,002.00 4,791,858.00 453838609 INDEPENDENT BANK CORP.- MICHIGAN 45,165.00 581,274.00 457030104 INGLES MARKETS, INC., CLASS A 93,319.00 3,374,415.00 45781D101 1 INOVALON HOLDINGS, INC. 103,216.00 1,719,579.00 45772F107 1 INPHI CORP. 66,314.00 5,250,079.00 45778Q107 INSPERITY, INC. 113,435.00 4,231,126.00 45780R101 1 INSTALLED BUILDING PRODUCTS, INC. 43,365.00 1,728,963.00 L5140P101 1 INTELSAT SA 793,220.00 1,213,627.00 458334109 INTER PARFUMS, INC. 36,279.00 1,681,532.00 46116X101 1 INTRA-CELLULAR THERAPIES, INC. 11,658.00 179,183.00 46146L101 INVESTORS BANCORP, INC. 695,205.00 5,554,688.00 462726100 1 IROBOT CORP. 4,329.00 177,056.00

FMSCC-3

Federated MDT Small Cap Core Fund - Portfolio Holdings - March 31, 2020

CUSIP SECURITY DESCRIPTION CURRENT SHARES MARKET VALUE 46333X108 1 IRONWOOD PHARMACEUTICALS, INC. 148,299.00 1,496,337.00 465741106 1 ITRON, INC. 6,201.00 346,202.00 466367109 JACK IN THE BOX, INC. 27,147.00 951,502.00 481116101 1 JOUNCE THERAPEUTICS, INC. 45,207.00 214,733.00 48273U102 1 K12, INC. 18,903.00 356,511.00 483007704 KAISER ALUMINUM CORP. 4,683.00 324,438.00 48576A100 1 KARUNA THERAPEUTICS, INC. 6,153.00 443,016.00 48666K109 KB HOME 14,924.00 270,124.00 489170100 KENNAMETAL, INC. 41,887.00 779,936.00 49428J109 1 KIMBALL ELECTRONICS, INC. 19,920.00 217,526.00 G5269C101 1 KINIKSA PHARMACEUTICALS LTD. 69,496.00 1,075,798.00 49714P108 KINSALE CAPITAL GROUP, INC. 16,182.00 1,691,504.00 498904200 KNOLL, INC. 89,238.00 920,936.00 50060P106 1 KOPPERS HOLDINGS, INC. 133,124.00 1,646,744.00 50077C106 1 KRATON CORP. 166,979.00 1,352,530.00 516012101 1 LANNETT CO., INC. 57,681.00 400,883.00 525558201 LEMAITRE VASCULAR, INC. 51,543.00 1,284,452.00 536797103 LITHIA MOTORS, INC., CLASS A 39,860.00 3,260,149.00 502175102 LTC PROPERTIES, INC. 8,551.00 264,226.00 55405Y100 1 MA-COM TECHNOLOGY SOLUTIONS HOLDINGS, INC. 65,663.00 1,243,001.00 559663109 1 MAGNOLIA OIL & GAS CORP. 44,124.00 176,496.00 56117J100 1 MALIBU BOATS, INC. 63,277.00 1,821,745.00 G5785G107 1 MALLINCKRODT PLC 790,659.00 1,565,505.00 564563104 MANTECH INTERNATIONAL CORP., CLASS A 60,216.00 4,375,897.00 576323109 1 MASTEC, INC. 80,690.00 2,640,984.00 577933104 MAXIMUS, INC. 52,371.00 3,047,992.00 57776J100 1 MAXLINEAR, INC. 275,157.00 3,211,082.00 58470H101 MEDIFAST, INC. 24,054.00 1,503,375.00 58506Q109 1 MEDPACE HOLDINGS, INC. 118,415.00 8,689,292.00 589378108 1 MERCURY SYSTEMS, INC. 58,735.00 4,190,155.00 589433101 MEREDITH CORP. 46,733.00 571,077.00 58958U103 MERIDIAN BANCORP, INC. 215,531.00 2,418,258.00 59045L106 1 MERSANA THERAPEUTICS, INC. 61,675.00 359,565.00 55277P104 MGE ENERGY, INC. 22,885.00 1,498,281.00 55303J106 MGP INGREDIENTS, INC. 49,800.00 1,339,122.00 59408Q106 1 MICHAELS COS, INC. 85,401.00 138,350.00 60468T105 1 MIRATI THERAPEUTICS, INC. 12,079.00 928,513.00 607525102 1 MODEL N, INC. 249,245.00 5,535,731.00 60877T100 1 MOMENTA PHARMACEUTICALS, INC. 50,923.00 1,385,106.00 55345K103 1 MRC GLOBAL, INC. 262,977.00 1,120,282.00 628464109 MYERS INDUSTRIES, INC. 165,009.00 1,773,846.00 62855J104 1 MYRIAD GENETICS, INC. 352,454.00 5,043,617.00 635309107 NATIONAL CINEMEDIA, INC. 59,121.00 192,734.00 636220303 NATIONAL GENERAL HOLDINGS CORP. 427,641.00 7,077,459.00 64049M209 1 NEOGENOMICS, INC. 55,185.00 1,523,658.00 64111Q104 1 NETGEAR, INC. 149,038.00 3,404,028.00 65158N102 NEWMARK GROUP, INC. 196,475.00 835,019.00 651718504 1 NEWPARK RESOURCES, INC. 342,264.00 307,011.00 65406E102 1 NICOLET BANKSHARES, INC. 30,464.00 1,662,725.00 629209305 1 NMI HOLDINGS, INC. 269,975.00 3,134,410.00 66765N105 NORTHWEST NATURAL HOLDING CO. 22,817.00 1,408,950.00 67011P100 1 NOW, INC. 63,771.00 329,058.00 670704105 1 NUVASIVE, INC. 92,308.00 4,676,323.00 675232102 1 OCEANEERING INTERNATIONAL, INC. 143,691.00 422,451.00

FMSCC-4

Federated MDT Small Cap Core Fund - Portfolio Holdings - March 31, 2020

CUSIP SECURITY DESCRIPTION CURRENT SHARES MARKET VALUE 675234108 OCEANFIRST FINANCIAL CORP. 195,739.00 3,114,208.00 67103X102 OFG BANCORP. 51,254.00 573,020.00 678026105 1 OIL STATES INTERNATIONAL, INC. 593,806.00 1,205,426.00 671044105 1 OSI SYSTEMS, INC. 17,057.00 1,175,568.00 69478X105 PACIFIC PREMIER BANCORP, INC. 89,056.00 1,677,815.00 69753M105 1 PALOMAR HOLDINGS, INC. 17,722.00 1,030,711.00 704551100 PEABODY ENERGY CORP. 842,135.00 2,442,192.00 704699107 PEAPACK-GLADSTONE FINANCIAL CORP. 168,446.00 3,023,606.00 70509V100 PEBBLEBROOK HOTEL TRUST 257,289.00 2,801,877.00 71375U101 1 PERFICIENT, INC. 210,790.00 5,710,301.00 720190206 PIEDMONT OFFICE REALTY TRUST, INC. 34,250.00 604,855.00 724479100 PITNEY BOWES, INC. 49,679.00 101,345.00 727493108 PLANTRONICS, INC. 265,558.00 2,671,514.00 736508847 PORTLAND GENERAL ELECTRIC CO. 344,265.00 16,504,064.00 74587V107 1 PUMA BIOTECHNOLOGY, INC. 444,540.00 3,751,918.00 74727A104 QCR HOLDINGS, INC. 120,964.00 3,274,495.00 74736A103 QTS REALTY TRUST, INC. 102,968.00 5,973,174.00 74758T303 1 QUALYS, INC. 41,327.00 3,595,036.00 74838J101 1 QUIDEL CORP. 14,255.00 1,394,281.00 749397105 1 R1 RCM, INC. 64,226.00 583,814.00 75605Y106 REALOGY HLDGS. CORP. 66,547.00 200,306.00 75615P103 1 REATA PHARMACEUTICALS, INC. 2,929.00 422,772.00 75629F109 1 RECRO PHARMA, INC. 96,753.00 790,472.00 75970E107 RENASANT CORP. 109,989.00 2,402,160.00 76009N100 RENT-A-CENTER, INC. 199,446.00 2,820,167.00 759916109 1 REPLIGEN CORP. 29,305.00 2,829,105.00 74965L101 RLJ LODGING TRUST 457,343.00 3,530,688.00 74967R106 RMR GROUP, INC./THE 87,315.00 2,354,886.00 77313F106 1 ROCKET PHARMACEUTICALS, INC. 57,789.00 806,157.00 749660106 RPC, INC. 1,061,964.00 2,187,646.00 806882106 SCHNITZER STEEL INDUSTRIES, INC., CLASS A 157,536.00 2,054,269.00 G7998G106 1 SEADRILL LTD. 267,840.00 115,171.00 81282V100 1 SEAWORLD ENTERTAINMENT, INC. 167,945.00 1,850,754.00 81374A105 1 SECUREWORKS CORP. 71,879.00 827,327.00 81619Q105 1 SELECT MEDICAL HOLDINGS CORP. 306,805.00 4,602,075.00 816300107 SELECTIVE INSURANCE GROUP, INC. 101,147.00 5,027,006.00 816850101 1 SEMTECH CORP. 26,181.00 981,787.00 830830105 SKYLINE CORP. 109,721.00 1,720,425.00 846819100 SPARTAN MOTORS, INC. 159,662.00 2,061,236.00 848577102 1 SPIRIT AIRLINES, INC. 105,944.00 1,365,618.00 78463M107 1 SPS COMMERCE, INC. 157,504.00 7,325,511.00 784635104 1 SPX CORP. 92,483.00 3,018,645.00 78469X107 1 SPX FLOW, INC. 115,463.00 3,281,458.00 556269108 STEVEN MADDEN LTD. 104,881.00 2,436,386.00 866082100 SUMMIT HOTEL PROPERTIES, INC. 91,564.00 386,400.00 867892101 SUNSTONE HOTEL INVESTORS, INC. 42,793.00 372,727.00 86881A100 1 SURGERY PARTNERS, INC. 139,073.00 908,147.00 87166B102 1 SYNEOS HEALTH, INC. 23,933.00 943,439.00 87484T108 1 TALOS ENERGY, INC. 78,716.00 452,617.00 875372203 1 TANDEM DIABETES CARE, INC. 12,021.00 773,551.00 875465106 TANGER FACTORY OUTLET CENTERS, INC. 54,045.00 270,225.00 Y8565N300 TEEKAY TANKERS LTD., CLASS A 12,350.00 274,664.00 87918A105 1 TELADOC, INC. 76,093.00 11,795,176.00 88033G407 1 TENET HEALTHCARE CORP. 101,639.00 1,463,601.00 880779103 TEREX CORP. 76,958.00 1,105,117.00

FMSCC-5

Federated MDT Small Cap Core Fund - Portfolio Holdings - March 31, 2020

CUSIP SECURITY DESCRIPTION CURRENT SHARES MARKET VALUE 88322Q108 1 TG THERAPEUTICS, INC. 87,490.00 860,902.00 G0772R208 THE BANK OF NT BUTTERFIELD & SON LTD. 15,640.00 266,349.00 G8807B106 1 THERAVANCE BIOPHARMA, INC. 144,146.00 3,331,214.00 88830R101 1 TITAN MACHINERY, INC. 134,713.00 1,170,656.00 87265H109 1 TRI POINTE GROUP, INC. 167,823.00 1,471,808.00 896095106 TRICO BANCSHARES 56,940.00 1,697,951.00 L9340P101 TRINSEO SA 340,321.00 6,163,213.00 896818101 TRIUMPH GROUP, INC. 60,206.00 406,993.00 899896104 TUPPERWARE BRANDS CORP. 481,351.00 779,789.00 90041T108 1 TURNING POINT THERAPEUTICS, INC. 7,981.00 356,431.00 90385V107 1 ULTRA CLEAN HOLDINGS, INC. 59,378.00 819,416.00 902788108 UMB FINANCIAL CORP. 97,691.00 4,530,909.00 909907107 UNITED BANKSHARES, INC. 37,631.00 868,523.00 913456109 UNIVERSAL CORP. 59,381.00 2,625,234.00 921659108 1 VANDA PHARMACEUTICALS, INC. 35,179.00 364,454.00 92531L207 1 VERSO CORP. 226,129.00 2,550,735.00 92686J106 1 VIKING THERAPEUTICS, INC. 98,005.00 458,664.00 928377100 1 VISTA OUTDOOR, INC. 33,654.00 296,155.00 92915B106 1 VOYAGER THERAPEUTICS, INC. 212,718.00 1,946,370.00 930059100 WADDELL & REED FINANCIAL, INC., CLASS A 144,342.00 1,642,612.00 94188P101 WATERSTONE FINANCIAL, INC. 194,620.00 2,829,775.00 929236107 WD 40 CO. 7,161.00 1,438,287.00 949090104 1 WELBILT, INC. 196,176.00 1,006,383.00 950810101 WESBANCO, INC. 55,440.00 1,313,928.00 958892101 WESTERN NEW ENGLAND BANCORP, INC. 134,084.00 906,408.00 966387409 1 WHITING PETROLEUM CORP. 713,977.00 478,650.00 974155103 WINGSTOP, INC. 93,680.00 7,466,296.00 978097103 WOLVERINE WORLD WIDE, INC. 23,260.00 353,552.00 98262P101 1 WW INTERNATIONAL, INC. 11,363.00 192,148.00 98401F105 1 XENCOR, INC. 169,214.00 5,056,114.00 984017103 XENIA HOTELS & RESORTS, INC. 163,891.00 1,688,077.00 98986M103 1 ZYNEX, INC. 9,556.00 105,785.00 624,602,156.00

1 Non-income-producing security. 2 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. 3 7-day net yield.

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 www.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 (35645) 3/31/2020

FMSCC-6

FMSCC-7