Investment objective & strategy
As of April 25, 2025 · prospectusObjective. The Funds investment objective is capital appreciation.
Strategy. In seeking to achieve its objective, the Fund invests a majority of its assets in the common stocks of small- and medium-sized companies that are traded on national securities exchanges, the NASDAQ stock market and on the over-the-counter market. Up to 30% of the Funds net assets may be invested in foreign securities. When investing in foreign securities, the Funds Adviser may emphasize investment in a particular country or group of countries which may subject the Fund to the risks of investing in such country or group of countries to a greater extent than if the Funds foreign security exposure was diversified over a greater number of countries. The Advisers process for selecting investments is bottom-up and growth-oriented. The Fund … In seeking to achieve its objective, the Fund invests a majority of its assets in the common stocks of small- and medium-sized companies that are traded on national securities exchanges, the NASDAQ stock market and on the over-the-counter market. Up to 30% of the Funds net assets may be invested in foreign securities. When investing in foreign securities, the Funds Adviser may emphasize investment in a particular country or group of countries which may subject the Fund to the risks of investing in such country or group of countries to a greater extent than if the Funds foreign security exposure was diversified over a greater number of countries. The Advisers process for selecting investments is bottom-up and growth-oriented. The Fund may invest in fixed-income securities, American Depositary Receipts (ADRs) and use derivative contracts (such as, for example, futures contracts, options and swaps) and/or hybrid instruments to implement elements of its investment strategy. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolios exposure to the investment(s) underlying the derivative or hybrid instruments in an attempt to benefit from changes in the value of the underlying investment(s), to realize gains from trading a derivative contract or to hedge against potential losses. There can be no assurances the Funds use of derivative contracts and/or hybrid instruments will work as intended.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| QUANTA SVCS INC | — | $4.40M | 4.67% |
| GE VERNOVA LLC | — | $3.20M | 3.39% |
| ARGENX SE | — | $2.72M | 2.89% |
| COMFORT SYSTEMS USA INC | — | $2.40M | 2.54% |
| GENERAL ELECTRIC CO | — | $2.32M | 2.46% |
| GUARDANT HEALTH INC | — | $1.79M | 1.90% |
| AGNICO EAGLE MINES LTD | — | $1.75M | 1.86% |
| WESTINGHOUSE AIR BRAKE TECH CORP | — | $1.65M | 1.75% |
| REPO BANK AMERICA | — | $1.61M | 1.71% |
| TAIWAN SEMIC MFG CO LTD SP ADR | — | $1.59M | 1.69% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Federated Hermes Kaufmann Fund · KAUAX, KAUCX, KAUFX, KAUIX | 90% | 1.46% |
| Federated Hermes Kaufmann Small Cap Fund · FKASX, FKCSX, FKKSX, FKAIX, FKALX | 44% | 0.89% |
| Federated Hermes Kaufmann Large Cap Fund · KLCAX, KLCCX, KLCKX, KLCIX, KLCSX | 35% | 0.78% |
Advisers
| Firm | Role |
|---|---|
| Federated Advisory Services Company | Adviser |
| Federated Global Investment Management Corp. | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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