NPORT-EX 2 poi_fhmortgatecorefund.htm POI - MORTGAGE CORE FUND EDGAR HTML
Mortgage Core Fund
Portfolio of Investments
September 30, 2021 (unaudited)  
Principal
Amount
or Shares
 
 
Value
             
 
MORTGAGE-BACKED SECURITIES—87.0%
 
 
 
Federal Home Loan Mortgage Corporation—18.3%
 
$   12,701,213
 
2.000%, 9/1/2050
$12,766,335   
   23,877,273
 
2.000%, 3/1/2051
23,962,389   
   31,440,717
 
2.000%, 4/1/2051
31,552,793   
   12,887,276
 
2.000%, 8/1/2051
12,929,188   
   33,515,658
 
2.000%, 8/1/2051
33,629,897   
    1,889,524
 
2.500%, 10/1/2049
1,950,836    
    2,587,487
 
2.500%, 1/1/2051
2,669,020    
   12,954,004
 
2.500%, 8/1/2051
13,395,790   
   15,475,871
 
2.500%, 8/1/2051
15,985,285   
    2,067,694
 
3.000%, 4/1/2031
2,184,226    
    1,955,095
 
3.000%, 1/1/2032
2,073,651    
    2,646,329
 
3.000%, 3/1/2032
2,814,492    
    3,311,944
 
3.000%, 3/1/2032
3,513,089    
    2,916,946
 
3.000%, 6/1/2032
3,084,986    
    3,826,875
 
3.000%, 6/1/2032
4,062,881    
    7,947,006
 
3.000%, 11/1/2032
8,420,216    
    1,224,613
 
3.000%, 12/1/2032
1,297,763    
    5,052,034
 
3.000%, 1/1/2033
5,360,439    
   18,931,326
 
3.000%, 2/1/2033
20,205,323   
    2,399,130
 
3.000%, 7/1/2033
2,551,584    
   17,658,818
 
3.000%, 1/1/2043
18,967,117   
    2,305,783
 
3.000%, 11/1/2044
2,414,105    
      632,599
 
3.000%, 6/1/2045
670,769      
    5,574,922
 
3.000%, 10/1/2045
5,974,018    
      767,915
 
3.000%, 5/1/2046
824,568      
   12,934,504
 
3.000%, 6/1/2046
13,824,075   
    6,029,720
 
3.000%, 6/1/2046
6,544,282    
    6,919,503
 
3.000%, 7/1/2046
7,440,802    
    2,208,476
 
3.000%, 9/1/2046
2,360,364    
    5,648,806
 
3.000%, 10/1/2046
6,065,547    
    5,921,323
 
3.000%, 10/1/2046
6,334,114    
    7,721,371
 
3.000%, 10/1/2046
8,252,409    
    4,688,280
 
3.000%, 11/1/2046
4,946,253    
    3,037,014
 
3.000%, 11/1/2046
3,245,885    
    6,902,849
 
3.000%, 12/1/2046
7,427,208    
    8,865,050
 
3.000%, 1/1/2047
9,352,850    
    9,757,725
 
3.000%, 5/1/2047
10,437,962   
   24,836,644
 
3.000%, 7/1/2051
26,179,998   
      219,685
 
3.500%, 6/1/2026
234,377      
      300,400
 
3.500%, 6/1/2026
320,490      
      102,677
 
3.500%, 7/1/2026
109,544      
    5,098,203
 
3.500%, 7/1/2042
5,533,767    
    4,418,985
 
3.500%, 9/1/2043
4,795,139    
    2,299,952
 
3.500%, 5/1/2046
2,463,386    
   22,245,904
 
3.500%, 7/1/2046
24,174,284   
1
Principal
Amount
or Shares
 
 
Value
             
 
MORTGAGE-BACKED SECURITIES—continued
 
 
 
Federal Home Loan Mortgage Corporation—continued
 
$   15,845,633
 
3.500%, 11/1/2047
$16,951,812   
    8,057,760
 
3.500%, 11/1/2047
8,553,541    
    2,685,784
 
3.500%, 12/1/2047
2,906,346    
   15,029,593
 
3.500%, 12/1/2047
16,113,326   
    8,088,386
 
3.500%, 2/1/2048
8,635,340    
   13,890,125
 
3.500%, 2/1/2048
14,924,032   
    2,866,221
 
3.500%, 8/1/2051
3,060,266    
       94,234
 
4.000%, 5/1/2024
99,738       
      623,890
 
4.000%, 8/1/2025
660,335      
       79,972
 
4.000%, 5/1/2026
84,644       
    1,179,084
 
4.000%, 5/1/2026
1,247,961    
      934,658
 
4.000%, 12/1/2040
1,016,221    
    6,674,738
 
4.000%, 12/1/2041
7,316,315    
      773,632
 
4.000%, 1/1/2042
847,994      
   11,383,250
 
4.000%, 6/1/2047
12,493,416   
   10,408,942
 
4.000%, 10/1/2047
11,330,571   
    4,290,274
 
4.000%, 11/1/2047
4,629,251    
    7,147,608
 
4.000%, 12/1/2047
7,779,019    
    3,702,508
 
4.000%, 2/1/2048
4,008,988    
   10,223,337
 
4.000%, 4/1/2048
10,990,356   
    4,224,434
 
4.000%, 5/1/2048
4,537,417    
    4,782,907
 
4.000%, 6/1/2048
5,232,177    
       67,162
 
4.500%, 7/1/2024
69,933       
       79,075
 
4.500%, 8/1/2024
82,338       
      142,543
 
4.500%, 9/1/2024
148,425      
      100,802
 
4.500%, 9/1/2024
104,843      
      112,702
 
4.500%, 6/1/2025
117,855      
      572,759
 
4.500%, 11/1/2039
634,337      
    1,712,985
 
4.500%, 5/1/2040
1,898,528    
      170,817
 
4.500%, 6/1/2040
190,588      
      230,060
 
4.500%, 7/1/2040
256,688      
      532,475
 
4.500%, 8/1/2040
594,106      
      931,306
 
4.500%, 8/1/2040
1,039,100    
    3,017,336
 
4.500%, 9/1/2040
3,366,576    
      583,349
 
4.500%, 7/1/2041
650,868      
      404,129
 
4.500%, 7/1/2041
452,167      
      351,568
 
4.500%, 7/1/2041
392,260      
    6,954,798
 
4.500%, 2/1/2048
7,708,159    
    5,203,131
 
4.500%, 5/1/2048
5,643,173    
    2,787,953
 
4.500%, 10/1/2048
3,012,411    
           75
 
5.000%, 10/1/2021
75           
          802
 
5.000%, 11/1/2021
803          
        3,208
 
5.000%, 12/1/2021
3,213        
       25,821
 
5.000%, 6/1/2023
26,552       
       54,630
 
5.000%, 7/1/2023
56,178       
       25,011
 
5.000%, 7/1/2023
25,719       
       20,711
 
5.000%, 7/1/2025
21,327       
    1,058,576
 
5.000%, 1/1/2034
1,182,338    
      350,157
 
5.000%, 5/1/2034
391,508      
        1,298
 
5.000%, 11/1/2035
1,462        
2
Principal
Amount
or Shares
 
 
Value
             
 
MORTGAGE-BACKED SECURITIES—continued
 
 
 
Federal Home Loan Mortgage Corporation—continued
 
$      418,128
 
5.000%, 4/1/2036
$471,195      
          510
 
5.000%, 4/1/2036
576          
        9,343
 
5.000%, 4/1/2036
10,514       
       87,045
 
5.000%, 4/1/2036
98,192       
       77,128
 
5.000%, 5/1/2036
86,952       
       70,649
 
5.000%, 6/1/2036
79,610       
      147,919
 
5.000%, 6/1/2036
165,787      
      405,467
 
5.000%, 12/1/2037
457,045      
       64,152
 
5.000%, 5/1/2038
72,320       
       32,955
 
5.000%, 6/1/2038
37,212       
       70,722
 
5.000%, 9/1/2038
79,936       
       66,263
 
5.000%, 2/1/2039
74,943       
       70,162
 
5.000%, 6/1/2039
79,116       
    1,930,233
 
5.000%, 10/1/2039
2,177,959    
      181,091
 
5.000%, 2/1/2040
204,498      
      314,417
 
5.000%, 8/1/2040
357,962      
        2,066
 
5.500%, 1/1/2022
2,073        
        5,381
 
5.500%, 1/1/2022
5,400        
          462
 
5.500%, 1/1/2022
464          
        7,900
 
5.500%, 2/1/2022
7,944        
      886,058
 
5.500%, 5/1/2034
1,012,474    
       42,543
 
5.500%, 3/1/2036
49,347       
       59,097
 
5.500%, 3/1/2036
68,360       
       25,859
 
5.500%, 3/1/2036
30,008       
       99,679
 
5.500%, 3/1/2036
114,824      
      226,980
 
5.500%, 6/1/2036
263,295      
       88,138
 
5.500%, 6/1/2036
102,247      
       48,929
 
5.500%, 6/1/2036
56,498       
       82,620
 
5.500%, 9/1/2037
96,350       
      198,442
 
5.500%, 9/1/2037
230,156      
      109,081
 
5.500%, 12/1/2037
127,159      
       15,376
 
5.500%, 3/1/2038
17,880       
        9,823
 
6.000%, 7/1/2029
11,082       
       24,550
 
6.000%, 2/1/2032
28,195       
       17,923
 
6.000%, 5/1/2036
21,007       
       46,475
 
6.000%, 8/1/2037
54,741       
      229,436
 
6.000%, 9/1/2037
269,563      
        2,042
 
6.500%, 3/1/2022
2,064        
        4,720
 
6.500%, 6/1/2029
5,405        
        2,132
 
6.500%, 7/1/2029
2,413        
      171,232
 
6.500%, 11/1/2036
206,021      
      391,907
 
6.500%, 10/1/2037
474,497      
        1,922
 
6.500%, 4/1/2038
2,328        
        1,994
 
6.500%, 4/1/2038
2,418        
        7,665
 
7.000%, 4/1/2032
8,971        
      116,841
 
7.000%, 4/1/2032
140,025      
       48,332
 
7.000%, 9/1/2037
59,467       
       17,336
 
7.500%, 10/1/2029
20,000       
        8,920
 
7.500%, 11/1/2029
10,312       
       11,190
 
7.500%, 4/1/2031
12,271       
3
Principal
Amount
or Shares
 
 
Value
             
 
MORTGAGE-BACKED SECURITIES—continued
 
 
 
Federal Home Loan Mortgage Corporation—continued
 
$       12,178
 
7.500%, 5/1/2031
$14,372       
        2,097
 
8.000%, 3/1/2030
2,432        
       32,360
 
8.000%, 1/1/2031
38,201       
       41,526
 
8.000%, 2/1/2031
48,874       
       14,871
 
8.000%, 3/1/2031
17,471       
          910
 
8.500%, 9/1/2025
997          
          249
 
8.500%, 9/1/2025
271          
 
 
TOTAL
562,885,786
 
 
Federal National Mortgage Association—39.7%
 
   19,635,102
 
1.500%, 6/1/2051
19,120,521   
    7,801,209
 
1.500%, 7/1/2051
7,591,885    
   10,077,264
 
1.500%, 7/1/2051
9,803,719    
   10,224,647
 
2.000%, 9/1/2035
10,535,402   
    5,082,341
 
2.000%, 9/1/2050
5,105,223    
   20,802,993
 
2.000%, 9/1/2050
20,884,951   
    5,724,865
 
2.000%, 10/1/2050
5,750,640    
   23,602,507
 
2.000%, 10/1/2050
23,893,165   
   31,634,874
 
2.000%, 11/1/2050
31,777,300   
   29,275,519
 
2.000%, 2/1/2051
29,389,026   
    9,747,998
 
2.000%, 3/1/2051
9,782,747    
    9,647,211
 
2.000%, 3/1/2051
9,684,012    
   33,458,412
 
2.000%, 3/1/2051
33,595,454   
   15,858,289
 
2.000%, 3/1/2051
15,922,501   
   21,552,628
 
2.000%, 3/1/2051
21,636,192   
   14,323,452
 
2.000%, 3/1/2051
14,403,270   
   31,507,401
 
2.000%, 4/1/2051
31,619,715   
    9,748,005
 
2.000%, 4/1/2051
9,784,885    
    9,793,288
 
2.000%, 4/1/2051
9,866,454    
    4,821,753
 
2.000%, 4/1/2051
4,860,036    
   14,645,206
 
2.000%, 4/1/2051
14,745,467   
   27,073,373
 
2.000%, 4/1/2051
27,313,709   
    5,742,181
 
2.000%, 5/1/2051
5,796,745    
    4,521,606
 
2.000%, 5/1/2051
4,568,810    
   58,614,616
 
2.000%, 5/1/2051
58,823,560   
   23,286,591
 
2.000%, 6/1/2051
23,462,747   
   12,893,098
 
2.000%, 8/1/2051
12,935,029   
   20,382,811
 
2.000%, 8/1/2051
20,523,623   
   27,113,933
 
2.000%, 8/1/2051
27,202,113   
   21,040,370
 
2.000%, 8/1/2051
21,237,014   
    2,562,792
 
2.500%, 2/1/2028
2,676,648    
   13,717,133
 
2.500%, 11/1/2049
14,179,372   
    3,149,815
 
2.500%, 12/1/2049
3,252,019    
   15,734,869
 
2.500%, 7/1/2050
16,257,479   
    8,708,764
 
2.500%, 1/1/2051
9,102,926    
   27,369,930
 
2.500%, 7/1/2051
28,476,132   
   29,170,063
 
2.500%, 8/1/2051
30,127,509   
   19,966,051
 
2.500%, 8/1/2051
20,621,394   
    5,569,325
 
2.500%, 8/1/2051
5,747,428    
   26,085,356
 
2.500%, 9/1/2051
26,967,231   
    1,569,768
 
3.000%, 2/1/2032
1,660,838    
4
Principal
Amount
or Shares
 
 
Value
             
 
MORTGAGE-BACKED SECURITIES—continued
 
 
 
Federal National Mortgage Association—continued
 
$    3,543,533
 
3.000%, 8/1/2043
$3,781,703    
    1,801,918
 
3.000%, 9/1/2043
1,923,030    
    8,328,601
 
3.000%, 8/1/2046
8,909,209    
    3,472,209
 
3.000%, 9/1/2046
3,725,116    
    3,624,121
 
3.000%, 10/1/2046
3,823,538    
    1,683,325
 
3.000%, 10/1/2046
1,799,096    
    3,859,536
 
3.000%, 11/1/2046
4,071,908    
    3,134,838
 
3.000%, 11/1/2046
3,350,437    
    3,928,821
 
3.000%, 11/1/2046
4,185,520    
    1,039,600
 
3.000%, 1/1/2047
1,096,804    
   31,914,021
 
3.000%, 1/1/2047
33,670,094   
      954,421
 
3.000%, 2/1/2047
1,026,921    
    5,798,103
 
3.000%, 3/1/2047
6,117,144    
   11,047,742
 
3.000%, 3/1/2047
11,811,004   
    1,240,799
 
3.000%, 4/1/2047
1,326,135    
    7,270,333
 
3.000%, 12/1/2047
7,777,167    
   11,369,877
 
3.000%, 12/1/2047
12,198,032   
    4,147,402
 
3.000%, 2/1/2048
4,426,484    
    1,107,677
 
3.000%, 2/1/2048
1,181,954    
    3,426,009
 
3.000%, 11/1/2049
3,613,294    
    1,802,990
 
3.000%, 11/1/2049
1,884,874    
   13,611,632
 
3.000%, 12/1/2049
14,229,814   
   19,762,323
 
3.000%, 12/1/2049
20,659,843   
    7,056,658
 
3.000%, 1/1/2050
6,926,551    
   18,790,580
 
3.000%, 11/1/2050
19,726,691   
   24,388,780
 
3.000%, 5/1/2051
25,667,898   
   24,934,560
 
3.000%, 8/1/2051
26,298,795   
      131,743
 
3.500%, 11/1/2025
140,554      
      207,258
 
3.500%, 11/1/2025
221,119      
      243,889
 
3.500%, 12/1/2025
260,200      
      244,775
 
3.500%, 1/1/2026
261,145      
       63,673
 
3.500%, 1/1/2026
67,931       
   19,345,580
 
3.500%, 4/1/2033
20,844,907   
    8,621,269
 
3.500%, 9/1/2042
9,409,013    
   14,626,145
 
3.500%, 7/1/2045
15,871,155   
    5,749,898
 
3.500%, 8/1/2046
6,180,765    
    6,643,355
 
3.500%, 8/1/2046
7,115,430    
   10,275,656
 
3.500%, 9/1/2046
11,039,879   
    6,482,203
 
3.500%, 11/1/2046
7,060,316    
    5,874,742
 
3.500%, 2/1/2047
6,398,680    
   10,283,035
 
3.500%, 11/1/2047
10,915,733   
   10,123,515
 
3.500%, 12/1/2047
10,819,953   
    5,238,480
 
3.500%, 4/1/2048
5,557,112    
    7,023,349
 
3.500%, 2/1/2051
7,439,572    
   30,529,207
 
3.500%, 8/1/2051
32,596,044   
      187,090
 
4.000%, 12/1/2025
198,019      
      205,303
 
4.000%, 7/1/2026
217,296      
    1,447,544
 
4.000%, 2/1/2041
1,574,848    
    3,799,246
 
4.000%, 12/1/2041
4,133,120    
    1,680,028
 
4.000%, 3/1/2042
1,847,287    
5
Principal
Amount
or Shares
 
 
Value
             
 
MORTGAGE-BACKED SECURITIES—continued
 
 
 
Federal National Mortgage Association—continued
 
$    3,089,222
 
4.000%, 4/1/2042
$3,386,158    
    1,163,791
 
4.000%, 3/1/2046
1,271,654    
    1,968,433
 
4.000%, 7/1/2046
2,154,101    
    1,985,313
 
4.000%, 9/1/2046
2,178,623    
    3,041,004
 
4.000%, 11/1/2046
3,327,129    
   13,164,199
 
4.000%, 6/1/2047
14,448,054   
    4,521,512
 
4.000%, 10/1/2047
4,904,406    
    6,871,815
 
4.000%, 10/1/2047
7,417,876    
    4,907,955
 
4.000%, 11/1/2047
5,321,580    
    6,188,022
 
4.000%, 12/1/2047
6,775,950    
    4,337,222
 
4.000%, 1/1/2048
4,774,854    
    5,767,837
 
4.000%, 2/1/2048
6,211,391    
    5,442,919
 
4.000%, 2/1/2048
5,864,889    
   11,244,472
 
4.000%, 2/1/2048
12,127,986   
    2,212,665
 
4.000%, 2/1/2048
2,416,289    
    4,583,112
 
4.000%, 2/1/2048
4,962,486    
    2,424,217
 
4.000%, 3/1/2048
2,661,399    
    1,843,108
 
4.000%, 3/1/2048
2,008,863    
    4,294,735
 
4.000%, 5/1/2048
4,617,624    
    1,135,411
 
4.000%, 6/1/2048
1,220,420    
    5,391,441
 
4.000%, 6/1/2048
5,790,045    
    2,773,718
 
4.000%, 7/1/2048
2,973,412    
      122,666
 
4.500%, 2/1/2039
135,646      
      629,853
 
4.500%, 5/1/2040
697,991      
    1,634,046
 
4.500%, 10/1/2040
1,823,178    
      202,453
 
4.500%, 11/1/2040
225,886      
    2,163,334
 
4.500%, 4/1/2041
2,413,728    
    1,063,619
 
4.500%, 6/1/2041
1,186,727    
      152,240
 
5.000%, 5/1/2023
156,333      
       23,990
 
5.000%, 8/1/2023
24,669       
      189,205
 
5.000%, 11/1/2023
196,149      
    1,405,196
 
5.000%, 2/1/2036
1,582,589    
      771,083
 
5.000%, 7/1/2040
877,875      
    1,146,604
 
5.000%, 10/1/2041
1,305,405    
       28,234
 
5.500%, 1/1/2032
32,059       
       21,597
 
5.500%, 1/1/2032
24,549       
      302,234
 
5.500%, 9/1/2034
346,994      
      893,808
 
5.500%, 12/1/2034
1,026,627    
       25,346
 
5.500%, 4/1/2035
29,026       
      349,056
 
5.500%, 11/1/2035
403,152      
      177,574
 
5.500%, 1/1/2036
205,222      
       71,848
 
5.500%, 3/1/2036
83,024       
      334,726
 
5.500%, 4/1/2036
386,258      
      471,643
 
5.500%, 4/1/2036
545,207      
      203,131
 
5.500%, 5/1/2036
235,838      
       99,094
 
5.500%, 9/1/2036
114,592      
      337,827
 
5.500%, 8/1/2037
390,930      
      144,697
 
5.500%, 7/1/2038
168,785      
      569,026
 
5.500%, 4/1/2041
665,300      
        8,473
 
6.000%, 1/1/2029
9,473        
6
Principal
Amount
or Shares
 
 
Value
             
 
MORTGAGE-BACKED SECURITIES—continued
 
 
 
Federal National Mortgage Association—continued
 
$       11,198
 
6.000%, 2/1/2029
$12,519       
        3,183
 
6.000%, 2/1/2029
3,536        
        4,092
 
6.000%, 4/1/2029
4,623        
       12,112
 
6.000%, 5/1/2029
13,675       
        6,468
 
6.000%, 5/1/2029
7,238        
      476,793
 
6.000%, 7/1/2034
555,081      
      254,525
 
6.000%, 11/1/2034
296,193      
      142,464
 
6.000%, 7/1/2036
167,599      
       30,129
 
6.000%, 7/1/2036
35,419       
      117,284
 
6.000%, 10/1/2037
138,439      
       98,449
 
6.000%, 6/1/2038
115,558      
      655,614
 
6.000%, 7/1/2038
773,909      
       48,789
 
6.000%, 9/1/2038
57,605       
       39,515
 
6.000%, 10/1/2038
46,570       
      303,378
 
6.000%, 2/1/2039
357,637      
       21,333
 
6.500%, 9/1/2028
23,553       
        2,980
 
6.500%, 8/1/2029
3,390        
        4,724
 
6.500%, 6/1/2031
5,507        
       13,078
 
6.500%, 6/1/2031
15,137       
        1,946
 
6.500%, 6/1/2031
2,255        
        3,338
 
6.500%, 6/1/2031
3,826        
        2,768
 
6.500%, 1/1/2032
3,233        
       40,811
 
6.500%, 3/1/2032
47,838       
      139,466
 
6.500%, 4/1/2032
163,153      
       34,676
 
6.500%, 5/1/2032
40,844       
      196,943
 
6.500%, 7/1/2036
236,830      
        6,272
 
6.500%, 8/1/2036
7,546        
       13,492
 
6.500%, 9/1/2036
16,324       
       53,380
 
6.500%, 12/1/2036
64,106       
       97,882
 
6.500%, 9/1/2037
118,762      
        4,162
 
6.500%, 12/1/2037
5,037        
       66,670
 
6.500%, 10/1/2038
80,876       
          266
 
7.000%, 7/1/2023
278          
        4,793
 
7.000%, 2/1/2024
4,955        
          428
 
7.000%, 5/1/2024
456          
        1,388
 
7.000%, 7/1/2024
1,490        
          870
 
7.000%, 7/1/2025
952          
       10,215
 
7.000%, 9/1/2031
12,019       
        5,498
 
7.000%, 9/1/2031
6,561        
       84,229
 
7.000%, 11/1/2031
100,705      
        5,926
 
7.000%, 12/1/2031
7,078        
       46,324
 
7.000%, 1/1/2032
51,257       
       25,964
 
7.000%, 2/1/2032
30,953       
       26,772
 
7.000%, 3/1/2032
32,011       
       53,631
 
7.000%, 3/1/2032
61,876       
        5,171
 
7.000%, 4/1/2032
6,197        
       19,799
 
7.000%, 4/1/2032
23,355       
      110,760
 
7.000%, 4/1/2032
132,910      
       12,614
 
7.000%, 6/1/2032
15,147       
      214,973
 
7.000%, 6/1/2037
265,905      
7
Principal
Amount
or Shares
 
 
Value
             
 
MORTGAGE-BACKED SECURITIES—continued
 
 
 
Federal National Mortgage Association—continued
 
$          848
 
7.500%, 1/1/2030
$988          
        7,902
 
7.500%, 9/1/2030
9,234        
        6,317
 
7.500%, 5/1/2031
7,434        
        2,584
 
7.500%, 6/1/2031
3,048        
       30,158
 
7.500%, 8/1/2031
35,632       
       38,082
 
7.500%, 1/1/2032
43,800       
        3,179
 
7.500%, 6/1/2033
3,646        
           39
 
8.000%, 7/1/2023
39           
        3,651
 
8.000%, 10/1/2026
4,078        
        1,680
 
8.000%, 11/1/2029
1,950        
          226
 
9.000%, 6/1/2025
247          
 
 
TOTAL
1,222,460,445
 
 
Government National Mortgage Association—1.9%
 
    8,832,496
 
3.000%, 1/20/2047
9,291,964    
    1,005,624
 
3.500%, 8/15/2043
1,087,777    
      621,240
 
3.500%, 8/15/2043
671,992      
   11,237,095
 
3.500%, 3/20/2047
12,135,963   
   13,848,739
 
3.500%, 11/20/2047
14,939,422   
      917,058
 
4.000%, 9/15/2040
1,003,625    
    2,348,405
 
4.000%, 10/15/2040
2,567,970    
    1,099,903
 
4.000%, 1/15/2041
1,203,654    
    1,412,854
 
4.000%, 10/15/2041
1,546,697    
    5,422,068
 
4.000%, 6/15/2048
5,875,176    
      250,498
 
4.500%, 1/15/2039
279,667      
      187,781
 
4.500%, 6/15/2039
210,709      
      697,796
 
4.500%, 10/15/2039
782,997      
      251,510
 
4.500%, 1/15/2040
282,184      
      133,168
 
4.500%, 6/15/2040
149,501      
      125,612
 
4.500%, 9/15/2040
142,243      
      175,643
 
4.500%, 2/15/2041
198,899      
      735,343
 
4.500%, 3/15/2041
825,630      
       71,570
 
4.500%, 5/15/2041
81,046       
    2,394,926
 
4.500%, 6/20/2041
2,665,459    
      422,472
 
4.500%, 9/15/2041
478,407      
      372,956
 
4.500%, 10/15/2043
421,054      
      226,701
 
4.500%, 11/15/2043
255,052      
      366,690
 
5.000%, 1/15/2039
415,674      
      326,875
 
5.000%, 5/15/2039
370,832      
      456,428
 
5.000%, 8/20/2039
509,951      
      151,242
 
5.500%, 12/15/2038
172,622      
      107,348
 
5.500%, 12/20/2038
122,706      
      194,373
 
5.500%, 1/15/2039
222,635      
      220,201
 
5.500%, 2/15/2039
252,046      
        6,883
 
6.000%, 10/15/2028
7,629        
        5,172
 
6.000%, 3/15/2029
5,786        
       77,372
 
6.000%, 2/15/2036
89,500       
       99,286
 
6.000%, 4/15/2036
115,061      
      101,553
 
6.000%, 6/15/2037
117,857      
       10,734
 
6.500%, 10/15/2028
12,092       
        5,133
 
6.500%, 10/15/2028
5,545        
8
Principal
Amount
or Shares
 
 
Value
             
 
MORTGAGE-BACKED SECURITIES—continued
 
 
 
Government National Mortgage Association—continued
 
$        6,298
 
6.500%, 11/15/2028
$7,038        
        7,973
 
6.500%, 12/15/2028
8,893        
        2,917
 
6.500%, 2/15/2029
3,280        
       11,344
 
6.500%, 3/15/2029
12,688       
       24,422
 
6.500%, 9/15/2031
28,044       
       54,869
 
6.500%, 2/15/2032
63,125       
       10,413
 
7.000%, 11/15/2027
11,553       
        6,778
 
7.000%, 6/15/2028
7,569        
       12,169
 
7.000%, 11/15/2028
13,590       
        7,286
 
7.000%, 1/15/2029
8,217        
        6,975
 
7.000%, 5/15/2029
7,942        
        1,345
 
7.000%, 10/15/2029
1,506        
       20,219
 
7.000%, 5/15/2030
23,022       
       13,908
 
7.000%, 11/15/2030
15,981       
       10,208
 
7.000%, 12/15/2030
11,543       
       13,384
 
7.000%, 8/15/2031
15,391       
       46,615
 
7.000%, 10/15/2031
53,964       
       10,378
 
7.000%, 12/15/2031
12,025       
       10,004
 
7.500%, 8/15/2029
11,398       
       38,673
 
7.500%, 10/15/2029
44,437       
        3,085
 
7.500%, 10/15/2030
3,557        
        6,581
 
7.500%, 1/15/2031
7,696        
          769
 
8.000%, 8/15/2029
890          
        2,353
 
8.000%, 10/15/2029
2,728        
        8,446
 
8.000%, 11/15/2029
9,799        
        8,184
 
8.000%, 1/15/2030
9,396        
        3,126
 
8.000%, 10/15/2030
3,617        
       70,058
 
8.000%, 11/15/2030
81,908       
        3,534
 
8.500%, 5/15/2029
4,111        
 
 
TOTAL
60,001,932
 
1
Uniform Mortgage-Backed Securities, TBA—27.1%
 
   35,000,000
 
1.500%, 10/1/2036
35,339,594   
   96,000,000
 
2.000%, 10/1/2036
98,840,227   
   98,000,000
 
2.000%, 10/1/2051
98,251,125   
  419,500,000
 
2.500%, 10/1/2051
432,560,252  
  163,000,000
 
3.000%, 10/1/2051
170,583,184  
 
 
TOTAL
835,574,382
 
 
TOTAL MORTGAGE-BACKED SECURITIES
(IDENTIFIED COST $2,625,499,476)
2,680,922,545
 
 
ASSET-BACKED SECURITIES—3.8%
 
 
 
Auto Receivables—0.7%
 
   11,095,000
 
Santander Drive Auto Receivables Trust 2020-2, Class D, 2.220%, 9/15/2026
11,318,778   
   10,025,000
 
Tesla Auto Lease Trust 2020-A, Class A3, 0.680%, 12/20/2023
10,086,413   
 
 
TOTAL
21,405,191
 
 
Credit Card—1.1%
 
   22,500,000
2
Discover Card Execution Note Trust 2017-A7, Class A7, 0.443% (1-month USLIBOR +0.360%), 4/15/2025
22,606,139   
   12,340,000
2
Discover Card Execution Note Trust 2018-A2, Class A2, 0.413% (1-month USLIBOR +0.330%), 8/15/2025
12,408,337   
 
 
TOTAL
35,014,476
 
 
Other—0.0%
 
      155,506
 
Sofi Consumer Loan Program Trust 2016-1, Class A, 3.260%, 8/25/2025
156,521      
9
Principal
Amount
or Shares
 
 
Value
 
 
ASSET-BACKED SECURITIES—continued
 
 
 
Student Loans—2.0%
 
$    6,608,688
 
Navient Student Loan Trust 2020-FA, Class A, 1.220%, 7/15/2069
$6,678,750    
   13,931,469
 
Navient Student Loan Trust 2020-GA, Class A, 1.170%, 9/16/2069
14,063,721   
   11,926,982
 
Navient Student Loan Trust 2020-HA, Class A, 1.310%, 1/15/2069
12,047,423   
   13,119,036
2
SMB Private Education Loan Trust 2018-A, Class A2B, 0.883% (1-month USLIBOR +0.800%), 2/15/2036
13,214,074   
   16,170,241
2
SMB Private Education Loan Trust 2020-BA, Class A1B, 1.183% (1-month USLIBOR +1.100%), 7/15/2053
16,350,801   
 
 
TOTAL
62,354,769
 
 
TOTAL ASSET-BACKED SECURITIES
(IDENTIFIED COST $117,793,443)
118,930,957
 
 
COMMERCIAL MORTGAGE-BACKED SECURITY—0.9%
 
 
 
Agency Commercial Mortgage-Backed Securities—0.9%
 
   29,408,258
2
FHLMC REMIC, Series KF90, Class AS, 0.430% (Secured Overnight Financing Rate +0.380%), 9/25/2030
(IDENTIFIED COST $29,408,258)
29,492,113   
 
 
COLLATERALIZED MORTGAGE OBLIGATIONS—0.8%
 
 
 
Federal Home Loan Mortgage Corporation—0.4%
 
   12,569,602
2
REMIC, Series 3284, Class AF, 0.394% (1-month USLIBOR +0.310%), 3/15/2037
12,608,348   
 
 
Government National Mortgage Association—0.1%
 
    3,606,736
2
REMIC, Series 2005-71, Class FA, 0.231% (1-month USLIBOR +0.140%), 9/16/2035
3,608,954    
 
 
Non-Agency Mortgage-Backed Securities—0.3%
 
      547,612
 
Countrywide Home Loans 2005-21, Class A2, 5.500%, 10/25/2035
438,305      
      278,282
 
Credit Suisse Mortgage Trust 2007-4, Class 4A2, 5.500%, 6/25/2037
101,807      
       89,692
 
Residential Funding Mortgage Securities I 2005-SA3, Class 3A, 2.797%, 8/25/2035
92,416       
    2,281,065
 
Sequoia Mortgage Trust 2012-6, Class A2, 1.808%, 12/25/2042
2,277,318    
    4,788,141
 
Sequoia Mortgage Trust 2013-2, Class A, 1.874%, 2/25/2043
4,810,137    
 
 
TOTAL
7,719,983
 
 
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS
(IDENTIFIED COST $24,220,371)
23,937,285
 
 
INVESTMENT COMPANY—34.0%
 
1,047,442,831
3
Federated Hermes Government Obligations Fund, Premier Shares, 0.03%4
(IDENTIFIED COST $1,047,442,831)
1,047,442,831
 
 
TOTAL INVESTMENT IN SECURITIES—126.5%
(IDENTIFIED COST $3,844,364,379)
3,900,725,731
 
 
OTHER ASSETS AND LIABILITIES - NET—(26.5)%5
(817,940,135)
 
 
TOTAL NET ASSETS—100%
$3,082,785,596
Affiliated fund holdings are investment companies which are managed by the Adviser or an affiliate of the Adviser. Transactions with affiliated fund holdings during the period ended September 30, 2021, were as follows:  
 
Federated Hermes
Government
Obligations Fund,
Premier Shares
Value as of 12/31/2020
$204,435,825
Purchases at Cost
$1,835,013,231
Proceeds from Sales
$(992,006,225)
Change in Unrealized Appreciation/Depreciation
N/A
Net Realized Gain/(Loss)
N/A
Value as of 9/30/2021
$1,047,442,831
Shares Held as of 9/30/2021
1,047,442,831
Dividend Income
$122,025
10
 
1
All or a portion of these To Be Announced Securities (TBAs) are subject to dollar-roll transactions.
2
Floating/variable note with current rate and current maturity or next reset date shown.
3
All or a portion of these securities are segregated pending settlement of dollar-roll transactions.
4
7-day net yield.
5
Assets, other than investments in securities, less liabilities. A significant portion of this balance is the result of dollar-roll transactions as of September 30, 2021.
Note: The categories of investments are shown as a percentage of total net assets at September 30, 2021.
Investment Valuation
In calculating its net asset value (NAV), the Fund generally values investments as follows:
■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by the Fund’s Board of Trustees (the “Trustees”).
■ Shares of other mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs, or NAV per share practical expedient, as applicable.
■ Derivative contracts listed on exchanges are valued at their reported settlement or closing price, except that options are valued at the mean of closing bid and asked quotations.
■ Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Trustees.
■ For securities that are fair valued in accordance with procedures established by and under the general supervision of the Trustees, certain factors may be considered, such as: the last traded or purchase price of the security, information obtained by contacting the issuer or dealers, analysis of the issuer’s financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded, public trading in similar securities or derivative contracts of the issuer or comparable issuers, movement of a relevant index, or other factors including but not limited to industry changes and relevant government actions.
If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, if the Fund cannot obtain price evaluations from a pricing service or from more than one dealer for an investment within a reasonable period of time as set forth in the Fund’s valuation policies and procedures, or if information furnished by a pricing service, in the opinion of the valuation committee (“Valuation Committee”), is deemed not representative of the fair value of such security, the Fund uses the fair value of the investment determined in accordance with the procedures described below. There can be no assurance that the Fund could obtain the fair value assigned to an investment if it sold the investment at approximately the time at which the Fund determines its NAV per share, and the actual value obtained could be materially different.
Fair Valuation Procedures
The Trustees have ultimate responsibility for determining the fair value of investments for which market quotations are not readily available. The Trustees have appointed a Valuation Committee comprised of officers of the Fund, Federated Investment Management Company (the “Adviser”), and certain of the Adviser’s affiliated companies to assist in determining fair value and in overseeing the calculation of the NAV. The Trustees have also authorized the use of pricing services recommended by the Valuation Committee to provide fair value evaluations of the current value of certain investments for purposes of calculating the NAV. The Valuation Committee employs various methods for reviewing third-party pricing-service evaluations including periodic reviews of third-party pricing services’ policies, procedures and valuation methods (including key inputs, methods, models and assumptions), transactional back-testing, comparisons of evaluations of different pricing services, and review of price challenges by the Adviser based on recent market activity. In the event that market quotations and price evaluations are not available for an investment, the Valuation Committee determines the fair value of the investment in accordance with procedures adopted by the Trustees. The Trustees periodically review and approve the fair valuations made by the Valuation Committee and any changes made to the procedures.
Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a “bid” evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between the prices bid and asked for the investment (a “mid” evaluation). The Fund normally uses bid evaluations for any U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for any other types of fixed-income securities and any OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Trustees.
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below:
Level 1—quoted prices in active markets for identical securities.
Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.
Level 3—significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
11

The following is a summary of the inputs used, as of September 30, 2021, in valuing the Fund’s assets carried at fair value:  
Valuation Inputs
 
Level 1—
Quoted
Prices
Level 2—
Other
Significant
Observable
Inputs
Level 3—
Significant
Unobservable
Inputs
Total
Debt Securities:
 
 
 
 
Mortgage-Backed Securities
$—
$2,680,922,545
$—
$2,680,922,545
Asset-Backed Securities
—
118,930,957
—
118,930,957
Commercial Mortgage-Backed Security
—
29,492,113
—
29,492,113
Collateralized Mortgage Obligations
—
23,937,285
—
23,937,285
Investment Company
1,047,442,831
—
—
1,047,442,831
TOTAL SECURITIES
$1,047,442,831
$2,853,282,900
$—
$3,900,725,731
 
The following acronym(s) are used throughout this portfolio:
 
FHLMC
—Federal Home Loan Mortgage Corporation
LIBOR
—London Interbank Offered Rate
REMIC
—Real Estate Mortgage Investment Conduit
12