FEDERATED HERMES GOVERNMENT RESERVES FUND Portfolio as of June 30, 2021 Current Net Assets -- $ 11,565,969,526

Weighted Average : 23 Days Weighted Average Life: 87 Days

(2) Effective (3) Final Principal Amount (1) Description CUSIP Base Value/Cost Maturity Maturity Category of Investment GOVERNMENT AGENCIES - 15.4% $ 20,000,000 (5) Federal Farm Credit System Floating Rate Notes, 0.090% 3133EMTB8 $ 20,000,000 7/1/2021 3/10/2023 U.S. Government Agency Debt $ 28,000,000 (5) Federal Farm Credit System Floating Rate Notes, 0.095% 3133EMHQ8 $ 27,996,727 7/1/2021 8/25/2022 U.S. Government Agency Debt $ 50,000,000 (5) Federal Farm Credit System Floating Rate Notes, 0.105% 3133EMKP6 $ 49,996,315 7/1/2021 12/15/2022 U.S. Government Agency Debt $ 15,000,000 (5) Federal Farm Credit System Floating Rate Notes, 0.110% 3133EMMS8 $ 15,000,000 7/1/2021 1/13/2023 U.S. Government Agency Debt $ 20,000,000 (5) Federal Farm Credit System Floating Rate Notes, 0.115% 3133EMGS5 $ 20,000,000 7/1/2021 11/18/2022 U.S. Government Agency Debt $ 30,000,000 (5) Federal Farm Credit System Floating Rate Notes, 0.125% 3133EKN69 $ 30,000,000 7/1/2021 9/13/2021 U.S. Government Agency Debt $ 10,000,000 (5) Federal Farm Credit System Floating Rate Notes, 0.125% 3133EKUW4 $ 10,000,000 7/1/2021 7/9/2021 U.S. Government Agency Debt $ 25,000,000 (5) Federal Farm Credit System Floating Rate Notes, 0.125% 3133EMFQ0 $ 25,000,000 7/1/2021 11/3/2022 U.S. Government Agency Debt $ 20,000,000 (5) Federal Farm Credit System Floating Rate Notes, 0.195% 3133EL2B9 $ 20,000,000 7/1/2021 7/28/2022 U.S. Government Agency Debt $ 37,000,000 (5) Federal Farm Credit System Floating Rate Notes, 0.230% 3133ELHG2 $ 37,000,000 7/1/2021 1/14/2022 U.S. Government Agency Debt $ 34,700,000 (5) Federal Farm Credit System Floating Rate Notes, 0.260% 3133EK4H6 $ 34,700,000 7/1/2021 10/28/2021 U.S. Government Agency Debt $ 55,000,000 (5) Federal Farm Credit System Floating Rate Notes, 0.350% 3133ELUW2 $ 55,000,000 7/1/2021 9/24/2021 U.S. Government Agency Debt $ 79,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.070% 3130AKJM9 $ 79,000,000 7/1/2021 8/9/2021 U.S. Government Agency Debt $ 35,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.085% 3130AMMK5 $ 35,000,000 7/1/2021 5/19/2023 U.S. Government Agency Debt $ 48,100,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.090% 3130ALSC9 $ 48,100,000 7/1/2021 3/17/2023 U.S. Government Agency Debt $ 90,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.095% 3130AKH33 $ 90,000,000 7/1/2021 5/27/2022 U.S. Government Agency Debt $ 62,500,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.105% 3130AKYV2 $ 62,500,000 7/1/2021 2/3/2023 U.S. Government Agency Debt $ 40,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.110% 3130AKDD5 $ 40,000,000 7/1/2021 4/26/2022 U.S. Government Agency Debt $ 40,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.110% 3130AKH82 $ 40,000,000 7/1/2021 11/18/2022 U.S. Government Agency Debt $ 48,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.110% 3130AKHU3 $ 48,000,000 7/1/2021 12/2/2022 U.S. Government Agency Debt $ 70,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.110% 3130AKKN5 $ 70,000,000 7/1/2021 12/16/2022 U.S. Government Agency Debt $ 27,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.115% 3130AKG34 $ 27,000,000 7/1/2021 11/10/2022 U.S. Government Agency Debt $ 35,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.125% 3130AGQA6 $ 35,000,000 7/1/2021 7/8/2021 U.S. Government Agency Debt $ 27,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.125% 3130AGTF2 $ 27,000,000 7/1/2021 7/23/2021 U.S. Government Agency Debt $ 25,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.130% 3130AJYW3 $ 25,000,000 7/1/2021 2/18/2022 U.S. Government Agency Debt $ 38,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.130% 3130AJZK8 $ 38,000,000 7/1/2021 2/25/2022 U.S. Government Agency Debt $ 25,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.135% 3130AJZF9 $ 25,000,000 7/1/2021 5/20/2022 U.S. Government Agency Debt $ 44,600,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.140% 3130AK5G7 $ 44,600,000 7/1/2021 6/10/2022 U.S. Government Agency Debt $ 17,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.165% 3130AJ5K1 $ 17,000,000 7/1/2021 2/10/2022 U.S. Government Agency Debt $ 60,000,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.170% 3130AJC49 $ 60,000,000 7/1/2021 2/28/2022 U.S. Government Agency Debt $ 39,650,000 (5) Federal Home Loan Bank System Floating Rate Notes, 0.200% 3130AJCZ0 $ 39,650,000 7/1/2021 9/3/2021 U.S. Government Agency Debt

FGRF-1 (2) Effective (3) Final Principal Amount (1) Security Description CUSIP Base Value/Cost Maturity Maturity Category of Investment $ 30,000,000 Federal Home Loan Bank System Notes, 0.030% 3130AMD66 $ 29,999,407 11/3/2021 11/3/2021 U.S. Government Agency Debt $ 45,000,000 Federal Home Loan Bank System Notes, 0.035% 3130AMDG4 $ 44,998,921 11/29/2021 11/29/2021 U.S. Government Agency Debt $ 15,000,000 Federal Home Loan Bank System Notes, 0.101% 3130AKTN6 $ 15,000,000 10/26/2021 10/26/2021 U.S. Government Agency Debt $ 20,000,000 Federal Home Loan Bank System Notes, 0.125% 3130AKA30 $ 19,999,644 8/16/2021 8/16/2021 U.S. Government Agency Debt $ 32,000,000 Federal Home Loan Bank System Notes, 0.125% 3130AKBC9 $ 31,999,663 9/30/2021 9/30/2021 U.S. Government Agency Debt $ 70,000,000 (5) Federal Home Loan Mortgage Corp. Floating Rate Notes, 0.115% 3134GXBH6 $ 70,000,000 7/1/2021 11/9/2022 U.S. Government Agency Debt $ 21,300,000 (5) Federal Home Loan Mortgage Corp. Floating Rate Notes, 0.140% 3134GWKC9 $ 21,300,000 7/1/2021 8/3/2022 U.S. Government Agency Debt $ 13,250,000 (5) Federal Home Loan Mortgage Corp. Floating Rate Notes, 0.250% 3134GVGW2 $ 13,250,000 7/1/2021 3/11/2022 U.S. Government Agency Debt $ 26,000,000 (5) Federal National Mortgage Association Floating Rate Notes, 0.220% 3135G0Z55 $ 26,000,000 7/1/2021 3/9/2022 U.S. Government Agency Debt $ 25,000,000 (5) Federal National Mortgage Association Floating Rate Notes, 0.240% 3135G04T7 $ 24,997,711 7/1/2021 5/27/2022 U.S. Government Agency Debt $ 26,000,000 (5) Federal National Mortgage Association Floating Rate Notes, 0.250% 3135G05A7 $ 26,000,000 7/1/2021 6/24/2022 U.S. Government Agency Debt $ 20,800,000 (5) Federal National Mortgage Association Floating Rate Notes, 0.270% 3135G04L4 $ 20,800,000 7/1/2021 5/9/2022 U.S. Government Agency Debt $ 30,000,000 (5) Federal National Mortgage Association Floating Rate Notes, 0.280% 3135G04J9 $ 30,000,000 7/1/2021 5/6/2022 U.S. Government Agency Debt $ 53,000,000 (5) Federal National Mortgage Association Floating Rate Notes, 0.320% 3135G04G5 $ 53,000,000 7/1/2021 5/4/2022 U.S. Government Agency Debt $ 39,500,000 (5) Federal National Mortgage Association Floating Rate Notes, 0.340% 3135G02W2 $ 39,500,000 7/1/2021 10/4/2021 U.S. Government Agency Debt $ 36,000,000 (5) Federal National Mortgage Association Floating Rate Notes, 0.360% 3135G03T8 $ 36,000,000 7/1/2021 10/25/2021 U.S. Government Agency Debt $ 24,000,000 (5) Federal National Mortgage Association Floating Rate Notes, 0.370% 3135G04A8 $ 24,000,000 7/1/2021 4/28/2022 U.S. Government Agency Debt $ 26,000,000 (5) Federal National Mortgage Association Floating Rate Notes, 0.370% 3135G04D2 $ 26,000,000 7/1/2021 4/27/2022 U.S. Government Agency Debt $ 28,000,000 (5) Federal National Mortgage Association Floating Rate Notes, 0.440% 3135G03J0 $ 28,000,000 7/1/2021 4/15/2022 U.S. Government Agency Debt TOTAL GOVERNMENT AGENCIES $ 1,776,388,388 REPURCHASE AGREEMENTS - 50.3% $ 300,000,000 ABN Amro Bank NV, 0.055% dated 6/30/2021 00699Q009 $ 300,000,000 7/1/2021 7/1/2021 Government Agency Repurchase Agreement $ 150,000,000 BMO Harris Bank, N.A., 0.055% dated 6/30/2021 932CQA007 $ 150,000,000 7/1/2021 7/1/2021 Government Agency Repurchase Agreement $ 400,000,000 (6) BNP Paribas SA, 0.020% dated 5/13/2021 963FTR002 $ 400,000,000 7/7/2021 8/12/2021 Treasury Repurchase Agreement $ 200,000,000 (6) BNP Paribas SA, 0.020% dated 5/5/2021 963FTR002 $ 200,000,000 7/6/2021 7/6/2021 Treasury Repurchase Agreement $ 106,000,000 BNP Paribas SA, 0.050% dated 6/30/2021 963FTR002 $ 106,000,000 7/1/2021 7/1/2021 Treasury Repurchase Agreement $ 35,000,000 Barclays Capital, Inc., 0.050% dated 6/30/2021 068992007 $ 35,000,000 7/1/2021 7/1/2021 Treasury Repurchase Agreement $ 204,310,000 BofA Securities, Inc., 0.050% dated 6/30/2021 983JVMII0 $ 204,310,000 7/1/2021 7/1/2021 Government Agency Repurchase Agreement $ 168,000,000 BofA Securities, Inc., 0.050% dated 6/30/2021 983JVMII0 $ 168,000,000 7/1/2021 7/1/2021 Treasury Repurchase Agreement $ 350,000,000 (6) Citigroup Global Markets, Inc., 0.060% dated 6/22/2021 99CBF2906 $ 350,000,000 7/7/2021 7/22/2021 Treasury Repurchase Agreement $ 500,000,000 (6) Citigroup Global Markets, Inc., 0.070% dated 3/4/2020 99CBF2906 $ 500,000,000 7/7/2021 7/7/2021 Government Agency Repurchase Agreement $ 2,600,000,000 Federal Reserve Bank of New York, 0.050% dated 6/30/2021 304997000 $ 2,600,000,000 7/1/2021 7/1/2021 Treasury Repurchase Agreement $ 500,000,000 Clearing Corporation ("FICC") - BNYM, 0.055% dated 6/30/2021 857449004 $ 500,000,000 7/1/2021 7/1/2021 Treasury Repurchase Agreement $ 50,000,000 HSBC Securities (USA), Inc., 0.055% dated 6/30/2021 643996002 $ 50,000,000 7/1/2021 7/1/2021 Government Agency Repurchase Agreement $ 72,000,000 Natixis Financial Products LLC, 0.055% dated 6/30/2021 45099F004 $ 72,000,000 7/1/2021 7/1/2021 Government Agency Repurchase Agreement $ 180,000,000 Wells Fargo Securities LLC, 0.060% dated 6/30/2021 930NXW009 $ 180,000,000 7/1/2021 7/1/2021 Government Agency Repurchase Agreement TOTAL REPURCHASE AGREEMENTS $ 5,815,310,000 U.S. TREASURY - 34.3% $ 160,000,000 (4) United States Treasury Bills, 0.010% 912796D48 $ 159,997,822 8/19/2021 8/19/2021 U.S. Treasury Debt $ 250,000,000 (4) United States Treasury Bills, 0.010% 912796H85 $ 249,999,653 7/6/2021 7/6/2021 U.S. Treasury Debt $ 120,000,000 (4) United States Treasury Bills, 0.015% 9127964B2 $ 119,997,900 8/12/2021 8/12/2021 U.S. Treasury Debt $ 69,400,000 (4) United States Treasury Bills, 0.015% 912796C64 $ 69,398,988 8/5/2021 8/5/2021 U.S. Treasury Debt $ 130,000,000 (4) United States Treasury Bills, 0.015% 912796D55 $ 129,996,966 8/26/2021 8/26/2021 U.S. Treasury Debt $ 125,000,000 (4) United States Treasury Bills, 0.015% 912796L49 $ 124,995,729 9/21/2021 9/21/2021 U.S. Treasury Debt

FGRF-2 (2) Effective (3) Final Principal Amount (1) Security Description CUSIP Base Value/Cost Maturity Maturity Category of Investment $ 150,500,000 (4) United States Treasury Bills, 0.020% 9127963S6 $ 150,498,829 7/15/2021 7/15/2021 U.S. Treasury Debt $ 90,000,000 (4) United States Treasury Bills, 0.020% 912796C56 $ 89,998,600 7/29/2021 7/29/2021 U.S. Treasury Debt $ 150,000,000 (4) United States Treasury Bills, 0.020% 912796L31 $ 149,993,750 9/14/2021 9/14/2021 U.S. Treasury Debt $ 100,000,000 (4) United States Treasury Bills, 0.020% 912796L56 $ 99,995,056 9/28/2021 9/28/2021 U.S. Treasury Debt $ 77,000,000 (4) United States Treasury Bills, 0.025% 9127964L0 $ 76,996,257 9/9/2021 9/9/2021 U.S. Treasury Debt $ 55,300,000 (4) United States Treasury Bills, 0.025% 912796F46 $ 55,297,043 9/16/2021 9/16/2021 U.S. Treasury Debt $ 136,875,000 (4) United States Treasury Bills, 0.025% 912796J91 $ 136,871,198 8/10/2021 8/10/2021 U.S. Treasury Debt $ 130,550,000 (4) United States Treasury Bills, 0.025% 912796K24 $ 130,545,739 8/17/2021 8/17/2021 U.S. Treasury Debt $ 224,500,000 (4) United States Treasury Bills, 0.025% 912796K40 $ 224,490,490 8/31/2021 8/31/2021 U.S. Treasury Debt $ 75,000,000 (4) United States Treasury Bills, 0.030% 912796J83 $ 74,997,938 8/3/2021 8/3/2021 U.S. Treasury Debt $ 50,700,000 (4) United States Treasury Bills, 0.035% 9127964W6 $ 50,693,789 11/4/2021 11/4/2021 U.S. Treasury Debt $ 51,000,000 (4) United States Treasury Bills, 0.038% 912796G78 $ 50,993,678 10/28/2021 10/28/2021 U.S. Treasury Debt $ 190,000,000 (4) United States Treasury Bills, 0.040% 912796F53 $ 189,982,267 9/23/2021 9/23/2021 U.S. Treasury Debt $ 185,000,000 (4) United States Treasury Bills, 0.040% 912796G52 $ 184,978,417 10/14/2021 10/14/2021 U.S. Treasury Debt $ 275,000,000 (4) United States Treasury Bills, 0.040% 912796G60 $ 274,965,778 10/21/2021 10/21/2021 U.S. Treasury Debt $ 50,000,000 (4) United States Treasury Bills, 0.040% 912796J59 $ 49,991,056 12/9/2021 12/9/2021 U.S. Treasury Debt $ 55,000,000 (4) United States Treasury Bills, 0.070% 912796C64 $ 54,996,257 8/5/2021 8/5/2021 U.S. Treasury Debt $ 80,000,000 (4) United States Treasury Bills, 0.090% 9127963S6 $ 79,997,200 7/15/2021 7/15/2021 U.S. Treasury Debt $ 75,000,000 (4) United States Treasury Bills, 0.090% 912796B57 $ 74,998,688 7/8/2021 7/8/2021 U.S. Treasury Debt $ 25,000,000 (4) United States Treasury Bills, 0.095% 912796C49 $ 24,998,615 7/22/2021 7/22/2021 U.S. Treasury Debt $ 175,000,000 (4) United States Treasury Bills, 0.100% 912796B40 $ 175,000,000 7/1/2021 7/1/2021 U.S. Treasury Debt $ 65,000,000 (4) United States Treasury Bills, 0.110% 9127965G0 $ 64,969,414 12/2/2021 12/2/2021 U.S. Treasury Debt $ 117,760,000 (5) United States Treasury Floating Rate Notes, 0.084% 91282CBY6 $ 117,764,098 7/7/2021 4/30/2023 U.S. Treasury Debt $ 165,150,000 (5) United States Treasury Floating Rate Notes, 0.099% 91282CBK6 $ 165,164,724 7/7/2021 1/31/2023 U.S. Treasury Debt $ 75,500,000 (5) United States Treasury Floating Rate Notes, 0.105% 91282CAA9 $ 75,499,999 7/7/2021 7/31/2022 U.S. Treasury Debt $ 11,500,000 (5) United States Treasury Floating Rate Notes, 0.204% 912828Z45 $ 11,500,000 7/7/2021 1/31/2022 U.S. Treasury Debt $ 28,000,000 (5) United States Treasury Floating Rate Notes, 0.350% 912828YN4 $ 28,002,977 7/7/2021 10/31/2021 U.S. Treasury Debt $ 25,000,000 United States Treasury Notes, 1.250% 912828T67 $ 25,096,659 10/31/2021 10/31/2021 U.S. Treasury Debt $ 50,000,000 United States Treasury Notes, 1.500% 912828YC8 $ 50,117,218 8/31/2021 8/31/2021 U.S. Treasury Debt $ 35,000,000 United States Treasury Notes, 1.500% 912828YP9 $ 35,159,848 10/31/2021 10/31/2021 U.S. Treasury Debt $ 15,750,000 United States Treasury Notes, 1.750% 912828SV3 $ 15,980,391 5/15/2022 5/15/2022 U.S. Treasury Debt $ 20,000,000 United States Treasury Notes, 1.875% 912828XD7 $ 20,330,016 5/31/2022 5/31/2022 U.S. Treasury Debt $ 24,500,000 United States Treasury Notes, 2.000% 912828D72 $ 24,577,839 8/31/2021 8/31/2021 U.S. Treasury Debt $ 20,000,000 United States Treasury Notes, 2.000% 912828U81 $ 20,191,108 12/31/2021 12/31/2021 U.S. Treasury Debt $ 12,000,000 United States Treasury Notes, 2.625% 912828Y20 $ 12,011,699 7/15/2021 7/15/2021 U.S. Treasury Debt $ 50,000,000 United States Treasury Notes, 2.875% 9128285L0 $ 50,517,001 11/15/2021 11/15/2021 U.S. Treasury Debt TOTAL U.S. TREASURY $ 3,972,550,693 TOTAL INVESTMENTS $ 11,564,249,081

(1) Includes the name of issuer and or yield of the security. (2) Maturity date as determined under Rule 2a-7(d) for purposes of calculating the portfolio's Weighted Average Maturity (3) The date on which the fund has an unconditional right to payment of the full principal amount of and any remaining interest on the security.

FGRF-3 (2) Effective (3) Final Principal Amount (1) Security Description CUSIP Base Value/Cost Maturity Maturity Category of Investment (4) Discount rate at time of purchase. (5) Floating rate notes with current rate shown. (6) Although the repurchase date is more than seven days after the date of purchase, the Fund has the right to terminate the repurchase agreement at any time with seven-days' notice.

The categories of investments are shown as a percentage of net assets ($11,565,969,526) 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.

Where appropriate, the following acronyms may be used throughout this portfolio: FDIC --Federal Deposit Insurance Corporation GTD --Guaranteed LIQ --Liquidity Agreement LLC --Limited Liability Corporation

You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

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, if available. 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 (33781) 06/30/2021

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