v3.26.1
Concentration Risk
 6 Months Ended
Jun. 30, 2026
Risks and Uncertainties [Abstract]  
Concentration Risk Concentration Risk
(a) Revenue Concentration by Asset Class
The following table presents Federated Hermes’ significant revenue concentration by asset class:
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Money Market Assets50 %53 %52 %53 %
Equity Assets30 %28 %30 %28 %
Fixed-Income Assets10 %12 %10 %12 %
(b) Revenue Concentration by Investment Offering
The following table presents Federated Hermes’ revenue concentration by investment offering:
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Federated Hermes Government Obligations Fund16 %15 %17 %15 %
Federated Hermes Prime Cash Obligations Fund 10 %11 %11 %11 %
A significant and prolonged decline in the assets under management (AUM) in these offerings can have a material adverse effect on Federated Hermes’ future revenues and, to a lesser extent, net income, due to a related reduction in distribution expenses associated with these offerings.
(c) Revenue Concentration by Intermediary
Approximately 10% of Federated Hermes’ total revenue for the three- and six-month periods ended June 30, 2026 and 9% for the three- and six-month periods ended June 30, 2025, was derived from services provided to one intermediary, Edward Jones. Significant negative changes in Federated Hermes’ relationship with this intermediary can have a material adverse effect on Federated Hermes’ future revenues and, to a lesser extent, net income due to a related reduction in distribution expenses associated with this intermediary.