# Portfolio overlap — FULAX vs FSTBX Comparing **Federated Hermes Ultrashort Bond Fund** (2026-03-31) and **Federated Hermes Global Allocation Fund** (2026-02-28). - Shared positions: 14 - Federated Hermes Ultrashort Bond Fund covered by Federated Hermes Global Allocation Fund: 0.05875058780481431628717556664 - Federated Hermes Global Allocation Fund covered by Federated Hermes Ultrashort Bond Fund: 0.05875058780481431628717556664 ## Federated Hermes Ultrashort Bond Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | Federated Hermes Government Obligations Tax-Managed Fund, Institutional Class | 0.059939 | ✓ | | FEDERATED CORE TR FEDERATED BANK LOAN CORE FUND | 0.037117 | ✓ | | FEDERATED CORE TR III FEDERATED PROJ+TRADE FIN CORE | 0.024882 | ✓ | | FEDERATED CORE TR MUTUAL FUND | 0.009221 | ✓ | | Government National Mortgage Association | 0.008526 | ✓ | | Government National Mortgage Association | 0.007251 | | | FNMA, REMIC, Series 2025-70, Class FD | 0.007018 | | | Fannie Mae REMICS | 0.006773 | | | Government National Mortgage Association | 0.006475 | | | Freddie Mac REMICS | 0.006470 | | | U.S. Treasury Bills | 0.006312 | | | Freddie Mac REMICS | 0.006296 | | | U.S. Treasury Bills | 0.006255 | | | U.S. Treasury Bills | 0.006199 | | | U.S. Treasury Bills | 0.006150 | | | FR RQ0056 | 0.005939 | | | ORL Trust, Series 2024-GLKS, Class B | 0.005828 | | | NAVSL 2021-BA A 144A 0.94% 07-15-69 | 0.005788 | | | JW Commercial Mortgage Trust, Series 2024-MRCO, Class C | 0.005571 | | | PFS Financing Corp. | 0.005529 | | | Government National Mortgage Association | 0.005516 | ✓ | | SDART 2025-3 D | 0.005502 | | | NAVSL 2021-FA A 144A 1.11% 02-18-70 | 0.005496 | | | Fidelity National Information Services, Inc. | 0.005491 | | | AMERICAN EXPRESS CO SR UNSECURED 11/26 VAR | 0.005467 | | | Fannie Mae REMICS | 0.005334 | | | Government National Mortgage Association | 0.005332 | ✓ | | Fannie Mae REMICS | 0.005325 | | | FR SD8420 | 0.005282 | | | SDART 2025-1 D | 0.005275 | | | SDART 2024-2 D | 0.005223 | | | MS F 04/13/28 MTN | 0.005084 | | | BANK OF NOVA SCOTIA THE | 0.005071 | | | JPMORGAN CHASE JPM Float 01/24/29 | 0.005056 | | | Government National Mortgage Association | 0.005053 | | | Santander Drive Auto Receivables Trust 2026-1 | 0.004880 | | | AmeriCredit Automobile Receivables Trust 2023-2 | 0.004864 | | | SDART 2024-5 D 5.14% 02-17-32 | 0.004864 | | | FR SD8431 | 0.004830 | | | NextGear Floorplan Master Owner Trust | 0.004812 | | | NELNET STUDENT LOAN TRUST NSLT 2021 DA AFL 144A | 0.004795 | | | Ford Motor Credit Co. LLC | 0.004723 | | | Freddie Mac REMICS | 0.004499 | | | NAVSL 2021-CA A 144A 1.06% 10-15-69 | 0.004495 | | | Freddie Mac REMICS | 0.004445 | | | Drive Auto Receivables Trust, Series 2025-1, Class D | 0.004337 | | | BX Commercial Mortgage Trust 2026-CSMO | 0.004323 | | | Freddie Mac REMICS | 0.004313 | | | CMO | 0.004305 | | | Huntington Bank Auto Credit-Linked Notes Series 2026-1 | 0.004301 | | ## Federated Hermes Global Allocation Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | FEDERATED CORE TR MUTUAL FUND | 0.084700 | ✓ | | FEDERATED CORE TR MTG CORE PORTFOLIO | 0.040725 | | | Federated Hermes Government Obligations Tax-Managed Fund, Institutional Class | 0.026420 | ✓ | | NVIDIA CORP | 0.020695 | | | APPLE INC | 0.018637 | | | FEDERATED CORE TR III FEDERATED PROJ+TRADE FIN CORE | 0.015295 | ✓ | | MICROSOFT CORP | 0.014623 | | | AMAZON.COM INC | 0.011213 | | | TSMC | 0.010227 | | | ALPHABET INC CL A | 0.010028 | | | ALPHABET INC CL C | 0.008153 | | | BROADCOM INC | 0.007185 | | | META PLATFORMS INC CL A | 0.006976 | | | TESLA INC | 0.006627 | | | LILLY ELI and CO | 0.006039 | | | BERKSHIRE HATH-B | 0.005919 | | | FED HIGH YLD BOND PORT | 0.005831 | | | SAMSUNG ELECTRONICS CO LTD | 0.005453 | | | JOHNSON&JOHNSON | 0.005180 | | | US TREASURY N/B | 0.005178 | | | BANCO SANTANDER SA | 0.004553 | | | PETROBRAS-PREF | 0.004136 | | | NU HOLDINGS LTD/CAYMAN ISLANDS | 0.003960 | | | BANK OF AMERICA CORPORATION | 0.003922 | | | ASML Holding NV | 0.003888 | | | VALE SA | 0.003849 | | | MICRON TECHNOLOGY INC | 0.003780 | | | NEWMONT CORP | 0.003733 | | | MASTERCARD INC CL A | 0.003709 | | | BBVA | 0.003572 | | | RTX CORP | 0.003572 | | | RIO TINTO PLC | 0.003488 | | | GERMANY FEDERAL REPUBLIC OF 0.25% 02/15/2027 REGS | 0.003372 | | | LAM RESEARCH CORP | 0.003317 | | | SK HYNIX INC | 0.003282 | | | ITAU UNIBAN-PREF | 0.003236 | | | NETFLIX INC | 0.003210 | | | GOLDMAN SACHS GROUP INC | 0.003194 | | | GE VERNOVA LLC | 0.003171 | | | TENCENT HOLDINGS LTD | 0.003020 | | | ITALY REPUBLIC OF 5% 08/01/2039 144A REGS | 0.003018 | | | MEXICAN BONOS MXN 5.75% 03-05-26 | 0.003005 | | | ITALY REPUBLIC OF 1.65% 03/01/2032 144A REGS | 0.002918 | | | TELEF BRASIL | 0.002858 | | | UNION PACIFIC CORP | 0.002840 | | | JPMORGAN CHASE and CO | 0.002834 | | | UNITED KINGDOM GILT GBP REG S 1.625% 10-22-28 | 0.002799 | | | CISCO SYSTEMS INC | 0.002757 | | | PALANTIR TECHNOLOGIES INC | 0.002753 | | | EXXON MOBIL CORP | 0.002736 | | ## Sources - N-PORT (fund A) — accession `0000912763-26-000014` (as of 2026-03-31) - N-PORT (fund B) — accession `0000013386-26-000007` (as of 2026-02-28) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _