Federated Hermes, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 8, 2025), Federated Hermes, Inc. reported 2,042 stock positions worth $46.3 billion. Its top holding was Microsoft (MSFT) at 2.0% of the portfolio, followed by Nvidia (NVDA, 1.7%) and Apple (AAPL, 1.5%). Compared with Q4 2024, it opened 171 new positions, sold out of 189, added to 886 and reduced 911. The biggest buy was Amgen (AMGN, shares +49%) and the biggest sale Wingstop (WING, shares −49%).
- Most Recent 13F
- Q2 2026
- Location
- PITTSBURGH, PA
- CIK
- 0001056288
- Portfolio Value
- $46.3B (Q1 2025)
- SEC Filing
- 0001623632-25-000548 ↗ filed May 8, 2025
Holdings Value
Holdings 2,042 stocks · $46.3B
| MSFT Microsoft Corp. | 1.98% | 2,438,357 | $915.3M | Add +13.7% |
| NVDA Nvidia Corp. | 1.65% | 7,071,155 | $766.4M | Add +7.8% |
| AAPL Apple Inc. | 1.48% | 3,097,110 | $688.0M | Add +19.3% |
| ABBV Abbvie Inc. | 1.48% | 3,283,390 | $687.9M | Add +27.9% |
| AMZN Amazon.com Inc. | 1.47% | 3,576,374 | $680.4M | Add +6.8% |
| PM Philip Morris International | 1.42% | 4,158,599 | $660.1M | Reduce -6.2% |
| AMGN Amgen Inc. | 1.37% | 2,037,169 | $634.7M | Add +48.5% |
| VZ Verizon Communications Inc. | 1.37% | 13,961,603 | $633.3M | Reduce -7.8% |
| GILD Gilead Sciences Inc. | 1.18% | 4,866,310 | $545.3M | Reduce -24.4% |
| CVX Chevron Corp. | 1.13% | 3,137,937 | $524.9M | Add +8.2% |
| JNJ Johnson & Johnson | 1.04% | 2,911,293 | $482.8M | Reduce -6.3% |
| BMY Bristol-Myers Squibb Co. | 1.03% | 7,832,778 | $477.7M | Reduce -12.3% |
| PFE Pfizer Inc. | 0.96% | 17,592,709 | $445.8M | Add +22.2% |
| DUK Duke Energy Corp. | 0.92% | 3,476,604 | $424.0M | Add +8.5% |
| COST Costco Wholesale Corp. | 0.88% | 432,534 | $409.1M | Add +4.0% |
| XOM Exxon Mobil Corp. | 0.87% | 3,406,119 | $405.1M | Add +68.3% |
| AEP American Electric Power | 0.87% | 3,692,490 | $403.5M | Reduce -0.4% |
| USB US Bancorp | 0.86% | 9,485,614 | $400.5M | Add +0.3% |
| TFC Truist Financial Corp. | 0.84% | 9,511,639 | $391.4M | Add +0.9% |
| GOOGL Alphabet Inc. Class A | 0.84% | 2,523,096 | $390.2M | Add +13.3% |
| PLD Prologis Inc. | 0.78% | 3,226,731 | $360.7M | Add +10.2% |
| QCOM Qualcomm Inc. | 0.74% | 2,221,873 | $341.3M | Add +41.1% |
| PNC PNC Financial Services Group | 0.73% | 1,931,369 | $339.5M | Add +2.4% |
| LYB Lyondellbasell Indu Class A | 0.72% | 4,744,239 | $334.0M | Add +12.7% |
| META Meta Platforms Inc. Class A | 0.70% | 566,601 | $326.6M | Add +15.2% |
| KO The Coca-Cola Co. | 0.70% | 4,545,044 | $325.5M | Add +2.9% |
| SPOT Spotify Technology SA | 0.66% | 554,124 | $304.8M | Add +1.2% |
| HBAN Huntington Bancshares Inc. | 0.65% | 20,103,485 | $301.8M | Add +2.5% |
| VLTO Veralto Corp. | 0.64% | 3,066,510 | $298.8M | Add +1.0% |
| PEP Pepsico Inc. | 0.64% | 1,991,264 | $298.6M | Add +13.6% |
| AMP Ameriprise Financial Inc. | 0.64% | 610,322 | $295.5M | Add +17.9% |
| PPL PPL Corp. | 0.62% | 7,998,199 | $288.8M | Add +1.4% |
| SO The Southern Co. | 0.60% | 3,046,293 | $280.1M | Add +4.1% |
| T AT&T Inc. | 0.56% | 9,126,997 | $258.1M | Reduce -22.2% |
| MS Morgan Stanley | 0.56% | 2,204,743 | $257.2M | Add +40.4% |
| LLY Eli Lilly & Co. | 0.53% | 298,453 | $246.5M | Add +3.5% |
| EVRG Evergy Inc. | 0.50% | 3,391,578 | $233.8M | Reduce -1.2% |
| PLTR Palantir Technologies Inc. Class A | 0.50% | 2,730,801 | $230.5M | Add +1.9% |
| TTE Totalenergies SE -Spon ADR | 0.50% | 3,552,025 | $229.8M | Add +23.1% |
| V Visa Inc. Class A | 0.49% | 642,526 | $225.2M | Add +10.4% |
| SNY Sanofi-ADR | 0.47% | 3,947,583 | $218.9M | Add +58.5% |
| ETR Entergy Corp. | 0.47% | 2,558,717 | $218.7M | Reduce -24.7% |
| WEC WEC Energy Group Inc. | 0.47% | 1,999,474 | $217.9M | Add +1.4% |
| TT Trane Technologies PLC | 0.47% | 644,259 | $217.1M | Reduce -20.5% |
| PAYX Paychex Inc. | 0.46% | 1,396,038 | $215.4M | Reduce -10.2% |
| ENB Enbridge Inc. | 0.46% | 4,852,261 | $215.0M | Add +4.5% |
| FTNT Fortinet Inc. | 0.46% | 2,211,113 | $212.8M | Add +57.2% |
| KVUE Kenvue Inc. | 0.45% | 8,752,763 | $209.9M | Add +3.9% |
| AVGO Broadcom Inc. | 0.45% | 1,234,906 | $206.8M | Reduce -14.9% |
| NGG National Grid PLC-SP ADR | 0.44% | 3,133,548 | $205.6M | Add +49.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.43% | 4,749,230 | $198.2M | Reduce -6.6% |
| TRV The Travelers Cos Inc. | 0.42% | 743,090 | $196.5M | Add +3.6% |
| DASH DoorDash Inc. Class A | 0.40% | 1,003,917 | $183.5M | Add +30.7% |
| AMCR Amcor PLC | 0.39% | 18,747,111 | $181.8M | Add +5.1% |
| XEL Xcel Energy Inc. | 0.39% | 2,568,340 | $181.8M | Add +3.6% |
| BSX Boston Scientific Corp. | 0.39% | 1,794,840 | $181.1M | Add +5.7% |
| JD Jd.com Inc.-ADR | 0.39% | 4,374,070 | $179.9M | Add +61.9% |
| GDDY GoDaddy Inc. Class A | 0.39% | 997,658 | $179.7M | Reduce -33.1% |
| LNG Cheniere Energy Inc. | 0.38% | 761,823 | $176.3M | Add +22.4% |
| PANW Palo Alto Networks Inc. | 0.38% | 1,025,180 | $174.9M | Add +117.5% |
| TER Teradyne Inc. | 0.38% | 2,105,852 | $173.9M | Add +188.8% |
| GEV GE Vernova Inc. | 0.37% | 567,902 | $173.4M | Add +0.1% |
| AXON Axon Enterprise Inc. | 0.37% | 323,207 | $170.0M | Reduce -4.7% |
| NTNX Nutanix Inc. Class A | 0.37% | 2,423,978 | $169.2M | Add +21.1% |
| HLNE Hamilton Lane Inc. Class A | 0.36% | 1,120,390 | $166.6M | Reduce -8.3% |
| PODD Insulet Corp. | 0.36% | 632,869 | $166.2M | Add +23.4% |
| NFLX Netflix Inc. | 0.35% | 174,585 | $162.8M | Add +11.8% |
| ISRG Intuitive Surgical Inc. | 0.34% | 322,713 | $159.8M | Add +3.0% |
| JPM JPMorgan Chase & Co. | 0.34% | 634,004 | $155.5M | Add +58.4% |
| COR Cencora Inc. | 0.33% | 554,749 | $154.3M | Add +16.5% |
| KIM Kimco Realty Corp. | 0.33% | 7,245,649 | $153.9M | Reduce -0.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.32% | 1,203,835 | $146.6M | Reduce -6.2% |
| GE General Electric filed as GE AEROSPACE | 0.31% | 725,454 | $145.2M | Add +2.8% |
| UPS United Parcel Service Class B | 0.30% | 1,281,484 | $141.0M | Reduce -21.1% |
| SHOP Shopify Inc. Class A | 0.30% | 1,447,767 | $140.0M | Reduce -3.4% |
| OWL Blue Owl Capital Inc. | 0.30% | 6,901,500 | $138.3M | Add +0.4% |
| PWR Quanta Services Inc. | 0.30% | 540,328 | $137.3M | Reduce -12.4% |
| O Realty Income Corp. | 0.30% | 2,359,129 | $136.9M | Add +29.6% |
| DXCM Dexcom Inc. | 0.29% | 1,994,732 | $136.2M | Add +2371.4% |
| HEI Heico Corp. | 0.29% | 500,499 | $133.7M | Add +1.1% |
| TRP TC Energy Corp. | 0.29% | 2,832,157 | $133.7M | Reduce -11.2% |
| NOW ServiceNow Inc. | 0.29% | 166,668 | $132.7M | Reduce -40.2% |
| PRU Prudential Financial Inc. | 0.28% | 1,176,359 | $131.4M | Add +7.8% |
| DECK Deckers Outdoor Corp. | 0.28% | 1,163,977 | $130.1M | Add +1998.7% |
| EXP Eagle Materials Inc. | 0.28% | 584,097 | $129.6M | Reduce -1.8% |
| TYL Tyler Technologies Inc. | 0.28% | 221,682 | $128.9M | Add +1.4% |
| UGI Ugi Corp. | 0.28% | 3,892,003 | $128.7M | Reduce -21.6% |
| ANET Arista Networks Inc. | 0.27% | 1,586,400 | $122.9M | Add +1.3% |
| BBY Best Buy Co. Inc. | 0.26% | 1,665,228 | $122.6M | Add +3.3% |
| AMT American Tower Corp. | 0.26% | 556,689 | $121.1M | Add +10.4% |
| DELL Dell Technologies -C | 0.26% | 1,319,179 | $120.2M | Add +52.3% |
| WING Wingstop Inc. | 0.25% | 516,787 | $116.6M | Reduce -49.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.25% | 1,177,574 | $116.2M | Reduce -12.3% |
| CSGP Costar Group Inc. | 0.25% | 1,465,334 | $116.1M | Reduce -16.3% |
| NNN NNN REIT Inc. | 0.25% | 2,690,657 | $114.8M | Reduce -0.6% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.25% | 1,197,775 | $114.4M | Add +3.2% |
| CART Maplebear Inc. | 0.24% | 2,832,384 | $113.0M | Add +15.0% |
| ALGN Align Technology Inc. | 0.24% | 707,514 | $112.4M | Add +510.3% |
| HUBS HubSpot Inc. | 0.24% | 196,664 | $112.4M | Add +15.2% |
| ATR Aptargroup Inc. | 0.24% | 756,352 | $112.2M | Add +4.8% |
Other holdings (8): bonds, preferreds, convertibles and warrants · $15.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 129,000 | $5.2M | No change |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 60,000 | $4.4M | No change |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 58,591 | $2.9M | No change |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 2,000,000 | $2.0M | No change |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 37,000 | $1.3M | No change |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD · principal | 60,000 | $29K | No change |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A · principal | 28,000 | $17K | No change |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D · principal | 31,200 | $15K | New |
Total filed on the 13F, all lines: $46.4B.
Portfolio Sells Q4 2024 → Q1 2025
| WING Wingstop Inc. | Reduce -49.1% | 0.25% | −0.38 |
| NOW ServiceNow Inc. | Reduce -40.2% | 0.29% | −0.36 |
| VRT Vertiv Holdings Co. Class A | Reduce -40.1% | 0.17% | −0.29 |
| AVGO Broadcom Inc. | Reduce -14.9% | 0.45% | −0.29 |
| GDDY GoDaddy Inc. Class A | Reduce -33.1% | 0.39% | −0.26 |
| DDOG Datadog Inc. Class A | Reduce -30.5% | 0.22% | −0.25 |
| FIX Comfort Systems USA Inc. | Reduce -35.9% | 0.21% | −0.23 |
| TT Trane Technologies PLC | Reduce -20.5% | 0.47% | −0.19 |
| UPS United Parcel Service Class B | Reduce -21.1% | 0.30% | −0.14 |
| CAVA Cava Group Inc. | Reduce -16.4% | 0.23% | −0.13 |
| COF Capital One Financial Corp. | Reduce -39.8% | 0.19% | −0.13 |
| PWR Quanta Services Inc. | Reduce -12.4% | 0.30% | −0.13 |
| GILD Gilead Sciences Inc. | Reduce -24.4% | 1.18% | −0.13 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -92.5% | 0.01% | −0.12 |
| IDYA Ideaya Biosciences Inc. | Reduce -5.8% | 0.17% | −0.12 |
| ADBE Adobe Inc. | Reduce -30.0% | 0.16% | −0.11 |
| TTD Trade Desk Inc./the Class A | Reduce -30.2% | 0.05% | −0.10 |
| APP AppLovin Corp. Class A | Reduce -13.2% | 0.23% | −0.10 |
| ETR Entergy Corp. | Reduce -24.7% | 0.47% | −0.09 |
| ARGX Argenx SE - ADR | Reduce -36.0% | 0.14% | −0.09 |
| BIDU Baidu Inc. - Spon ADR | Reduce -33.8% | 0.22% | −0.09 |
| MRK Merck & Co. Inc. | Reduce -55.9% | 0.06% | −0.09 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -36.4% | 0.12% | −0.09 |
| RCL Royal Caribbean Cruises Ltd. | Reduce -43.8% | 0.08% | −0.08 |
| DUOL Duolingo | Reduce -28.4% | 0.17% | −0.08 |
| GPCR Structure Therapeutics Inc. | Reduce -42.8% | 0.04% | −0.08 |
| HDV iShares Core High Dividend E | Reduce -95.3% | 0.00% | −0.08 |
| DIS The Walt Disney Co. | Reduce -12.3% | 0.25% | −0.08 |
| NOVT Novanta Inc. | Reduce -98.5% | 0.00% | −0.08 |
| BMY Bristol-Myers Squibb Co. | Reduce -12.3% | 1.03% | −0.08 |
| GMS GMS Inc. | Reduce -37.9% | 0.09% | −0.08 |
| PSN Parsons Corp. | Reduce -91.4% | 0.00% | −0.08 |
| AXON Axon Enterprise Inc. | Reduce -4.7% | 0.37% | −0.07 |
| TREX Trex Company Inc. | Reduce -26.7% | 0.11% | −0.07 |
| VST Vistra Corp. | Reduce -31.6% | 0.10% | −0.07 |
| ARES Ares Management Corp. Class A | Reduce -17.4% | 0.15% | −0.07 |
| NFE New Fortress Energy Inc. | Sold out | 0.00% | −0.07 |
| ROIC Retail Opportunity Investmen | Sold out | 0.00% | −0.07 |
| ORCL Oracle Corp. | Reduce -67.6% | 0.02% | −0.07 |
| LKQ LKQ Corp. | Reduce -62.5% | 0.05% | −0.07 |
| ETN Eaton Corp. PLC | Reduce -2.9% | 0.23% | −0.06 |
| TGT Target Corp. | Reduce -7.6% | 0.15% | −0.06 |
| ROST Ross Stores Inc. | Reduce -75.7% | 0.02% | −0.06 |
| BAC Bank of America Corp. | Reduce -6.6% | 0.43% | −0.06 |
| ICE Intercontinental Exchange Inc. | Reduce -37.6% | 0.15% | −0.06 |
| CRM Salesforce Inc. | Reduce -0.1% | 0.23% | −0.06 |
| SRPT Sarepta Therapeutics Inc. | Reduce -23.2% | 0.04% | −0.06 |
| PI Impinj Inc. | Reduce -97.3% | 0.00% | −0.06 |
| CVNA Carvana Co. | Reduce -61.4% | 0.04% | −0.06 |
| VERA Vera Therapeutics Inc. | Reduce -27.4% | 0.04% | −0.06 |
Portfolio Buys Q4 2024 → Q1 2025
| AMGN Amgen Inc. | Add +48.5% | 1.37% | +0.59 |
| ABBV Abbvie Inc. | Add +27.9% | 1.48% | +0.49 |
| XOM Exxon Mobil Corp. | Add +68.3% | 0.87% | +0.40 |
| DXCM Dexcom Inc. | Add +2371.4% | 0.29% | +0.28 |
| DECK Deckers Outdoor Corp. | Add +1998.7% | 0.28% | +0.26 |
| FIVE Five Below | Add +26340.9% | 0.24% | +0.24 |
| CE Celanese Corp. | Add +9132.0% | 0.22% | +0.22 |
| CVX Chevron Corp. | Add +8.2% | 1.13% | +0.21 |
| SNY Sanofi-ADR | Add +58.5% | 0.47% | +0.21 |
| QCOM Qualcomm Inc. | Add +41.1% | 0.74% | +0.21 |
| FE Firstenergy Corp. | Add +133614.8% | 0.20% | +0.20 |
| ALGN Align Technology Inc. | Add +510.3% | 0.24% | +0.19 |
| PANW Palo Alto Networks Inc. | Add +117.5% | 0.38% | +0.19 |
| JD Jd.com Inc.-ADR | Add +61.9% | 0.39% | +0.18 |
| TER Teradyne Inc. | Add +188.8% | 0.38% | +0.17 |
| NGG National Grid PLC-SP ADR | Add +49.8% | 0.44% | +0.17 |
| FTNT Fortinet Inc. | Add +57.2% | 0.46% | +0.17 |
| DUK Duke Energy Corp. | Add +8.5% | 0.92% | +0.16 |
| FOXA Fox Corp. Class A | Add +164675.7% | 0.15% | +0.15 |
| TTE Totalenergies SE -Spon ADR | Add +23.1% | 0.50% | +0.15 |
| JPM JPMorgan Chase & Co. | Add +58.4% | 0.34% | +0.13 |
| PFE Pfizer Inc. | Add +22.2% | 0.96% | +0.13 |
| MS Morgan Stanley | Add +40.4% | 0.56% | +0.12 |
| ZS Zscaler Inc. | New | 0.12% | +0.12 |
| SPOT Spotify Technology SA | Add +1.2% | 0.66% | +0.12 |
| GIS General Mills Inc. | Add +178.1% | 0.20% | +0.12 |
| DLTR Dollar Tree Inc. | Add +5400.8% | 0.12% | +0.12 |
| DASH DoorDash Inc. Class A | Add +30.7% | 0.40% | +0.11 |
| ULTA Ulta Beauty Inc. | Add +229.4% | 0.17% | +0.11 |
| PLD Prologis Inc. | Add +10.2% | 0.78% | +0.10 |
| KO The Coca-Cola Co. | Add +2.9% | 0.70% | +0.10 |
| PATH Uipath Inc. Class A | Add +479.3% | 0.13% | +0.10 |
| COR Cencora Inc. | Add +16.5% | 0.33% | +0.10 |
| NTNX Nutanix Inc. Class A | Add +21.1% | 0.37% | +0.10 |
| EQH Equitable Holdings Inc. | Add +66.8% | 0.21% | +0.09 |
| LNG Cheniere Energy Inc. | Add +22.4% | 0.38% | +0.09 |
| CAH Cardinal Health Inc. | Add +36.7% | 0.24% | +0.09 |
| V Visa Inc. Class A | Add +10.4% | 0.49% | +0.08 |
| O Realty Income Corp. | Add +29.6% | 0.30% | +0.08 |
| AAP Advance Auto Parts Inc. | Add +302.5% | 0.12% | +0.08 |
| SO The Southern Co. | Add +4.1% | 0.60% | +0.08 |
| META Meta Platforms Inc. Class A | Add +15.2% | 0.70% | +0.07 |
| NRG NRG Energy Inc. | Add +1429.9% | 0.07% | +0.07 |
| NTAP Netapp Inc. | Add +97.7% | 0.21% | +0.07 |
| PODD Insulet Corp. | Add +23.4% | 0.36% | +0.07 |
| RBLX Roblox Corp. Class A | Add +48.9% | 0.20% | +0.06 |
| AAON Aaon Inc. | Add +5973.3% | 0.07% | +0.06 |
| WEC WEC Energy Group Inc. | Add +1.4% | 0.47% | +0.06 |
| FFIV F5 Inc. | Add +1306.4% | 0.07% | +0.06 |
| PPL PPL Corp. | Add +1.4% | 0.62% | +0.06 |
Notes & Other Activity Q4 2024 → Q1 2025
| BIOX Bioceres Crop Solutions Corp. | SHS · principal | Sold out | 8,806 | $54Kbefore exit |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D · principal | New | 31,200 | $15K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 2,029 | $69.5B | NVDA, AAPL, GOOGL, ABBV, MSFT |
| Q1 2026 | 2,039 | $61.5B | NVDA, GOOGL, AAPL, MSFT, ABBV |
| Q4 2025 | 2,055 | $59.8B | NVDA, MSFT, GOOGL, AAPL, AMZN |
| Q3 2025 | 2,105 | $56.6B | NVDA, MSFT, GOOGL, ABBV, AAPL |
| Q2 2025 | 2,044 | $53.1B | MSFT, NVDA, AMZN, AAPL, GOOGL |
| Q1 2025 | 2,042 | $46.3B | MSFT, NVDA, AAPL, ABBV, AMZN |
| Q4 2024 | 2,059 | $45.6B | MSFT, NVDA, AMZN, AAPL, VZ |
| Q3 2024 | 2,048 | $45.5B | MSFT, NVDA, VZ, AAPL, AMZN |
| Q2 2024 | 2,013 | $42.2B | MSFT, NVDA, PM, VZ, AMZN |
| Q1 2024 | 2,013 | $43.4B | MSFT, VZ, PM, NVDA, AMZN |