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mmot:C000190787Member 2021-04-01 2022-03-31 0000856517 mmot:AdvisorSharesMember mmot:S000009571Member mmot:C000190787Member 2024-04-01 2025-03-31 0000856517 mmot:ServiceSharesMember mmot:S000009571Member mmot:C000026148Member 2022-12-22 2023-12-21 0000856517 mmot:ServiceSharesMember mmot:S000009571Member mmot:C000026148Member 2021-04-01 2022-03-31 0000856517 mmot:ServiceSharesMember mmot:S000009571Member mmot:C000026148Member 2024-04-01 2025-03-31 0000856517 mmot:CashIISharesMember mmot:S000009571Member mmot:C000157049Member 2022-12-22 2023-12-21 0000856517 mmot:CashIISharesMember mmot:S000009571Member mmot:C000157049Member 2021-04-01 2022-03-31 0000856517 mmot:CashIISharesMember mmot:S000009571Member mmot:C000157049Member 2024-04-01 2025-03-31 0000856517 mmot:CashSeriesSharesMember mmot:S000009571Member mmot:C000157045Member 2022-12-22 2023-12-21 0000856517 mmot:CashSeriesSharesMember mmot:S000009571Member mmot:C000157045Member 2021-04-01 2022-03-31 0000856517 mmot:CashSeriesSharesMember mmot:S000009571Member mmot:C000157045Member 2024-04-01 2025-03-31 pure iso4217:USD Federated Hermes Government Obligations Fund – TR Class <p></p><p>The Fund's TR class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.52%.</p><p>Within the periods shown in the bar chart, the Fund's TR class highest quarterly return was 1.20% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2021).</p> Federated Hermes Government Obligations Fund – PRM Class <p></p><p>The Fund's PRM class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.78%.</p><p>Within the periods shown in the bar chart, the Fund's PRM class highest quarterly return was 1.33% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2021).</p> Federated Hermes Government Obligations Fund – AVR Class <p></p><p>The Fund's AVR class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.78%.</p><p>Within the periods shown in the bar chart, the Fund's AVR class highest quarterly return was 1.33% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2021).</p> Federated Hermes Government Obligations Fund – SDG Class <p></p><p>The Fund's SDG class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.78%.</p><p>Within the periods shown in the bar chart, the Fund's SDG class highest quarterly return was 1.33% (quarter ended December 31, 2023). Its lowest quarterly return was 0.16% (quarter ended June 30, 2022).</p> Federated Hermes Government Obligations Fund – SEL Class <p></p><p>The Fund's SEL class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.77%.</p><p>Within the periods shown in the bar chart, the Fund's SEL class highest quarterly return was 1.33% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2021).</p> Federated Hermes Government Obligations Fund – IS Class <p></p><p>The Fund's IS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.76%.</p><p>Within the periods shown in the bar chart, the Fund's IS class highest quarterly return was 1.32% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2021).</p> Federated Hermes Government Obligations Fund – SS Class <p></p><p>The Fund's SS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.65%.</p><p>Within the periods shown in the bar chart, the Fund's SS class highest quarterly return was 1.26% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2021).</p> Federated Hermes Government Obligations Fund – ADM Class <p></p><p>The Fund's ADM class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.63%.</p><p>Within the periods shown in the bar chart, the Fund's ADM class highest quarterly return was 1.26% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2021).</p> Federated Hermes Government Obligations Fund – CII Class <p></p><p>The Fund's CII class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.44%.</p><p>Within the periods shown in the bar chart, the Fund's CII class highest quarterly return was 1.16% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2021).</p> Federated Hermes Government Obligations Fund – CS Class <p></p><p>The Fund's CS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.35%.</p><p>Within the periods shown in the bar chart, the Fund's CS class highest quarterly return was 1.12% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2021).</p> Federated Hermes Government Obligations Fund – CAP Class <p></p><p>The Fund's CAP class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.71%.</p><p>Within the periods shown in the bar chart, the Fund's CAP class highest quarterly return was 1.29% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2021).</p> Federated Hermes Trust for U S Treasury Obligations – SS Class <p></p><p>The Fund's SS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.63%.</p><p>Within the periods shown in the bar chart, the Fund's SS class highest quarterly return was 1.23% (quarter ended September 30, 2024). Its lowest quarterly return was 0.90% (quarter ended December 31, 2025).</p> Federated Hermes Trust for U.S. Treasury Obligations – IS Class <p></p><p>The Fund's IS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.76%.</p><p>Within the periods shown in the bar chart, the Fund's IS class highest quarterly return was 1.32% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended December 31, 2021).</p> Federated Hermes Trust for U S Treasury Obligations – SS Class <p></p><p>The Fund's SS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.63%.</p><p>Within the periods shown in the bar chart, the Fund's SS class highest quarterly return was 1.23% (quarter ended September 30, 2024). Its lowest quarterly return was 0.90% (quarter ended December 31, 2025).</p> Federated Hermes Trust for U S Treasury Obligations – CII Class <p></p><p>The Fund's CII class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.41%.</p><p>Within the periods shown in the bar chart, the Fund's CII class highest quarterly return was 1.14% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Trust for U S Treasury Obligations – CS Class <p></p><p>The Fund's CS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.34%.</p><p>Within the periods shown in the bar chart, the Fund's CS class highest quarterly return was 1.11% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Treasury Obligations Fund – CAP Class <p></p><p>The Fund's CAP class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.71%.</p><p>Within the periods shown in the bar chart, the Fund's CAP class highest quarterly return was 1.29% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Treasury Obligations Fund – TR Class <p></p><p>The Fund's TR class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.53%.</p><p>Within the periods shown in the bar chart, the Fund's TR class highest quarterly return was 1.20% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Treasury Obligations Fund – PRM Class <p></p><p>The Fund's PRM class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.78%.</p><p>Within the periods shown in the bar chart, the Fund's PRM class highest quarterly return was 1.31% (quarter ended March 31, 2024). Its lowest quarterly return was 0.98% (quarter ended December 31, 2025).</p> Federated Hermes Treasury Obligations Fund – SEL Class <p></p><p>The Fund's SEL class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.77%.</p><p>Within the periods shown in the bar chart, the Fund's SEL class highest quarterly return was 1.30% (quarter ended September 30, 2024). Its lowest quarterly return was 0.97% (quarter ended December 31, 2025).</p> Federated Hermes Treasury Obligations Fund – AS Class <p></p><p>The Fund's AS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.61%.</p><p>Within the periods shown in the bar chart, the Fund's AS class highest quarterly return was 1.25% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Treasury Obligations Fund – IS Class <p></p><p>The Fund's IS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.76%.</p><p>Within the periods shown in the bar chart, the Fund's IS class highest quarterly return was 1.32% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended December 31, 2021).</p> Federated Hermes Treasury Obligations Fund – AVR Class <p></p><p>The Fund's AVR class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.79%.</p><p>Within the periods shown in the bar chart, the Fund's AVR class highest quarterly return was 1.31% (quarter ended March 31, 2024). Its lowest quarterly return was 0.98% (quarter ended December 31, 2025).</p> Federated Hermes Treasury Obligations Fund – SS Class <p></p><p>The Fund's SS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.65%.</p><p>Within the periods shown in the bar chart, the Fund's SS class highest quarterly return was 1.27% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Treasury Obligations Fund – ADM Class <p></p><p>The Fund's ADM class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.63%.</p><p>Within the periods shown in the bar chart, the Fund's ADM class highest quarterly return was 1.23% (quarter ended September 30, 2024). Its lowest quarterly return was 0.90% (quarter ended December 31, 2025).</p> Federated Hermes Treasury Obligations Fund – CMS Class <p></p><p>The Fund's CMS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.51%.</p><p>Within the periods shown in the bar chart, the Fund's CMS class highest quarterly return was 1.17% (quarter ended June 30, 2024). Its lowest quarterly return was 0.84% (quarter ended December 31, 2025).</p> <p></p> Federated Hermes Capital Reserves Fund <p></p><p>The Fund's total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.45%.</p><p>Within the periods shown in the bar chart, the Fund's highest quarterly return was 1.19% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Government Reserves Fund – A Class <p></p><p>The Fund's A class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.42%.</p><p>Within the periods shown in the bar chart, the Fund's A class highest quarterly return was 1.15% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Government Reserves Fund – P Class <p></p><p>The Fund's P class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.35%.</p><p>Within the periods shown in the bar chart, the Fund's P class highest quarterly return was 1.11% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Government Obligations Tax-Managed Fund – AS Class <p></p><p>The Fund's AS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.57%.</p><p>Within the periods shown in the bar chart, the Fund's AS class highest quarterly return was 1.23% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Government Obligations Tax-Managed Fund – IS Class <p></p><p>The Fund's IS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.75%.</p><p>Within the periods shown in the bar chart, the Fund's IS class highest quarterly return was 1.32% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Government Obligations Tax-Managed Fund – SS Class <p></p><p>The Fund's SS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.62%.</p><p>Within the periods shown in the bar chart, the Fund's SS class highest quarterly return was 1.25% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> Federated Hermes Prime Obligations Fund – IS Class <p></p><p>The Fund's IS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.80%.</p><p>Within the periods shown in the bar chart, the Fund's IS class highest quarterly return was 1.43% (quarter ended December 31, 2023). Its lowest quarterly return was (0.01)% (quarter ended March 31, 2022).</p> Federated Hermes Prime Obligations Fund – SS Class <p></p><p>The Fund's SS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.68%.</p><p>Within the periods shown in the bar chart, the Fund's SS class highest quarterly return was 1.36% (quarter ended December 31, 2023). Its lowest quarterly return was (0.03)% (quarter ended March 31, 2022).</p> <p></p> Federated Hermes Prime Cash Obligations Fund – CAP Class <p></p><p>The Fund's CAP class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.78%.</p><p>Within the periods shown in the bar chart, the Fund's CAP class highest quarterly return was 1.34% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended December 31, 2021).</p> <p></p> Federated Hermes Prime Cash Obligations Fund – TR Class <p></p><p>The Fund's TR class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.60%.</p><p>Within the periods shown in the bar chart, the Fund's TR class highest quarterly return was 1.25% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> <p></p> Federated Hermes Prime Cash Obligations Fund – AS Class <p></p><p>The Fund's AS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.68%.</p><p>Within the periods shown in the bar chart, the Fund's AS class highest quarterly return was 1.30% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> <p></p> Federated Hermes Prime Cash Obligations Fund – R Class <p></p><p>The Fund's R class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.36%.</p><p>Within the periods shown in the bar chart, the Fund's R class highest quarterly return was 1.14% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> <p></p> Federated Hermes Prime Cash Obligations Fund – WS Class <p></p><p>The Fund's WS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.83%.</p><p>Within the periods shown in the bar chart, the Fund's WS class highest quarterly return was 1.37% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended December 31, 2021).</p> <p></p> Federated Hermes Prime Cash Obligations Fund – AVR Class <p></p><p>The Fund's AVR class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.83%.</p><p>Within the periods shown in the bar chart, the Fund's AVR class highest quarterly return was 1.37% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended December 31, 2021).</p> <p></p> Federated Hermes Prime Cash Obligations Fund – SS Class <p></p><p>The Fund's SS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.71%.</p><p>Within the periods shown in the bar chart, the Fund's SS class highest quarterly return was 1.31% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> <p></p> Federated Hermes Prime Cash Obligations Fund – CII Class <p></p><p>The Fund's CII class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.48%.</p><p>Within the periods shown in the bar chart, the Fund's CII class highest quarterly return was 1.19% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> <p></p> Federated Hermes Prime Cash Obligations Fund – CS Class <p></p><p>The Fund's CS class total return for the six-month period from January 1, 2026 to June 30, 2026, was 1.41%.</p><p>Within the periods shown in the bar chart, the Fund's CS class highest quarterly return was 1.16% (quarter ended December 31, 2023). Its lowest quarterly return was 0.00% (quarter ended March 31, 2022).</p> 2026-07-31 0000856517 false 485BPOS highest quarterly return 2023-12-31 lowest quarterly return 2021-03-31 The Fund's TR class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-03-31 The Fund's PRM class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-03-31 The Fund's AVR class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-06-30 The Fund's SDG class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-03-31 The Fund's SEL class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-03-31 The Fund's IS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-03-31 The Fund's SS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-03-31 The Fund's ADM class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-03-31 The Fund's CII class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-03-31 The Fund's CS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-03-31 The Fund's CAP class total return for the six-month period 2026-06-30 highest quarterly return 2024-09-30 lowest quarterly return 2025-12-31 The Fund's SS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-12-31 The Fund's IS class total return for the six-month period 2026-06-30 highest quarterly return 2024-09-30 lowest quarterly return 2025-12-31 The Fund's SS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's CII class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's CS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's CAP class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's TR class total return for the six-month period 2026-06-30 highest quarterly return 2024-03-31 lowest quarterly return 2025-12-31 The Fund's PRM class total return for the six-month period 2026-06-30 highest quarterly return 2024-09-30 lowest quarterly return 2025-12-31 The Fund's SEL class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's AS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-12-31 The Fund's IS class total return for the six-month period 2026-06-30 highest quarterly return 2024-03-31 lowest quarterly return 2025-12-31 The Fund's AVR class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's SS class total return for the six-month period 2026-06-30 highest quarterly return 2024-09-30 lowest quarterly return 2025-12-31 The Fund's ADM class total return for the six-month period 2026-06-30 highest quarterly return 2024-06-30 lowest quarterly return 2025-12-31 The Fund's CMS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's A class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's P class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's AS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's IS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's SS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's IS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's SS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-12-31 The Fund's CAP class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's TR class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's AS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's R class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-12-31 The Fund's WS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2021-12-31 The Fund's AVR class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's SS class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's CII class total return for the six-month period 2026-06-30 highest quarterly return 2023-12-31 lowest quarterly return 2022-03-31 The Fund's CS class total return for the six-month period 2026-06-30 0.0001 0.0027 0.0121 0.0157 0.0020 0.0002 0.0118 0.0448 0.0463 0.0368 0.0120 0.0000 0.0152 0.0028 0.0078 0.0174 0.0211 0.0039 0.0002 0.0156 0.0503 0.0519 0.0422 0.0133 0.0000 0.0178 0.0039 0.0002 0.0156 0.0503 0.0519 0.0422 0.0133 0.0000 0.0178 0.0503 0.0519 0.0422 0.0133 0.0016 0.0178 0.0002 0.0076 0.0152 0.0038 0.0002 0.0155 0.0502 0.0518 0.0421 0.0133 0.0000 0.0177 0.0023 0.0075 0.0170 0.0207 0.0036 0.0002 0.0152 0.0498 0.0514 0.0417 0.0132 0.0000 0.0176 0.0002 0.0051 0.0147 0.0184 0.0026 0.0002 0.0136 0.0475 0.0492 0.0395 0.0126 0.0000 0.0165 0.0144 0.0181 0.0025 0.0002 0.0134 0.0472 0.0488 0.0391 0.0126 0.0000 0.0163 0.0001 0.0014 0.0104 0.0142 0.0017 0.0002 0.0108 0.0431 0.0448 0.0351 0.0116 0.0000 0.0144 0.0001 0.0003 0.0085 0.0126 0.0014 0.0002 0.0099 0.0418 0.0434 0.0336 0.0112 0.0000 0.0135 0.0013 0.0063 0.0159 0.0196 0.0030 0.0002 0.0144 0.0487 0.0504 0.0407 0.0129 0.0000 0.0171 0.0486 0.0389 0.0123 0.0090 0.0163 0.0021 0.0073 0.0170 0.0205 0.0034 0.0000 0.0147 0.0500 0.0512 0.0415 0.0132 0.0000 0.0176 0.0486 0.0389 0.0123 0.0090 0.0163 0.0000 0.0011 0.0099 0.0135 0.0014 0.0000 0.0100 0.0427 0.0439 0.0343 0.0114 0.0000 0.0141 0.0000 0.0003 0.0085 0.0121 0.0011 0.0000 0.0091 0.0412 0.0424 0.0330 0.0111 0.0000 0.0134 0.0009 0.0063 0.0162 0.0197 0.0030 0.0001 0.0146 0.0490 0.0502 0.0405 0.0129 0.0000 0.0171 0.0001 0.0025 0.0121 0.0157 0.0020 0.0001 0.0118 0.0450 0.0464 0.0369 0.0120 0.0000 0.0153 0.0518 0.0421 0.0131 0.0098 0.0178 0.0516 0.0418 0.0130 0.0097 0.0177 0.0001 0.0047 0.0145 0.0176 0.0023 0.0001 0.0129 0.0467 0.0481 0.0385 0.0125 0.0000 0.0161 0.0019 0.0073 0.0172 0.0207 0.0036 0.0001 0.0154 0.0500 0.0513 0.0416 0.0132 0.0000 0.0176 0.0518 0.0421 0.0131 0.0098 0.0179 0.0002 0.0048 0.0146 0.0182 0.0026 0.0001 0.0135 0.0476 0.0489 0.0393 0.0127 0.0000 0.0165 0.0486 0.0389 0.0123 0.0090 0.0163 0.0461 0.0364 0.0117 0.0084 0.0151 0.0000 0.0028 0.0117 0.0146 0.0020 0.0001 0.0113 0.0444 0.0448 0.0349 0.0119 0.0000 0.0145 101 315 547 1213 232 412 713 1483 101 315 547 1213 132 412 713 1483 0.0000 0.0013 0.0101 0.0139 0.0016 0.0001 0.0099 0.0426 0.0444 0.0348 0.0115 0.0000 0.0142 0.0000 0.0004 0.0086 0.0124 0.0013 0.0001 0.0091 0.0410 0.0429 0.0333 0.0111 0.0000 0.0135 0.0001 0.0039 0.0136 0.0172 0.0024 0.0001 0.0119 0.0460 0.0477 0.0378 0.0123 0.0000 0.0157 0.0023 0.0071 0.0167 0.0204 0.0037 0.0001 0.0143 0.0495 0.0513 0.0414 0.0132 0.0000 0.0175 0.0002 0.0046 0.0142 0.0179 0.0027 0.0001 0.0125 0.0469 0.0487 0.0388 0.0125 0.0000 0.0162 0.0036 0.0100 0.0201 0.0232 0.0059 0.0003 0.0165 0.0529 0.0526 0.0434 0.0143 -0.0001 0.0180 0.0011 0.0078 0.0182 0.0209 0.0041 -0.0001 0.0144 0.0502 0.0500 0.0411 0.0136 -0.0003 0.0168 0.0031 0.0098 0.0184 0.0215 0.0047 0.0001 0.0156 0.0509 0.0519 0.0419 0.0134 0.0000 0.0178 0.0003 0.0057 0.0143 0.0174 0.0027 0.0001 0.0127 0.0470 0.0481 0.0381 0.0125 0.0000 0.0160 0.0011 0.0078 0.0162 0.0190 0.0034 0.0001 0.0138 0.0490 0.0500 0.0399 0.0130 0.0000 0.0168 0.0001 0.0015 0.0099 0.0130 0.0015 0.0001 0.0100 0.0424 0.0432 0.0332 0.0114 0.0000 0.0136 0.0041 0.0108 0.0194 0.0225 0.0055 0.0001 0.0165 0.0520 0.0530 0.0429 0.0137 0.0000 0.0183 0.0055 0.0001 0.0165 0.0520 0.0530 0.0429 0.0137 0.0000 0.0183 0.0016 0.0083 0.0168 0.0199 0.0038 0.0001 0.0144 0.0494 0.0504 0.0404 0.0131 0.0000 0.0171 0.0001 0.0038 0.0123 0.0154 0.0021 0.0001 0.0114 0.0447 0.0457 0.0357 0.0119 0.0000 0.0148 0.0001 0.0025 0.0113 0.0139 0.0017 0.0001 0.0105 0.0433 0.0442 0.0342 0.0116 0.0000 0.0141 N-1A Federated Hermes Money Market Obligations Trust 2026-09-30 <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Capital Reserves Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Shares of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0055 0.0047 0.0117 -0.0015 0.0102 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 119 372 644 1420 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). The Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government but that have no explicit financial support. As an efficient and cost-effective means of managing cash, the Fund may also invest in affiliated money market funds. These investments will be made pursuant to Rule 12d1-1 of the Investment Company Act of 1940, as amended (“1940 Act”). </span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="font-family:Times New Roman;font-size:10pt;">under the 1940 Act (“1940 Act”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. Such determination will be based on current market conditions and the Fund’s particular circumstances, and it is expected that such fee would be imposed, if at all, during periods of extraordinary market stress. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. The liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. If the Fund imposes a liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table shown below reflect historical performance data for the Fund and are intended to </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s Shares total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling the Fund at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table shown below reflect historical performance data for the Fund and are intended to </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s Shares total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s Shares Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0349 0.0270 0.0165 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">2.96%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s 7-Day Net Yield as of December 31, 2025</span> 0.0296 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Class A</span><span style="font-family:Times New Roman;font-size:14pt;line-height:14pt;"> </span><span style="font-family:Times New Roman;font-size:14pt;">and</span><span style="font-family:Times New Roman;font-size:14pt;line-height:14pt;"> </span><span style="font-family:Times New Roman;font-size:14pt;">C Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Reserves Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Class A Shares (A)</span><span style="font-family:Times New Roman;font-size:10pt;"> and Class C Shares (C) of the Fund. </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0.0100 0 0 0 0.0100 0 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0015 0.0045 0.0075 0.0039 0.0040 0.0099 0.0130 -0.0012 -0.0003 0.0087 0.0127 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem all of your Shares at the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">end of those periods. Expenses assuming no redemption are also shown. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in (i) cash, (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowing for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized fully by government securities. The Fund will notify shareholders at least 60 days in advance of any change in this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s A Shares total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns for each </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">class </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling the Fund at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s A Shares total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s A</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">and C class Average Annual Total Returns for the calendar period ended December 31, 2025.</span> 0.0348 0.0262 0.0157 0.0308 0.0234 0.0141 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">For the Fund’s A and C classes, the 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">2.96</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%, </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">and 2.57%, respectively. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">For the Fund’s A and C classes, the 7-Day Net Yield as of December 31, 2025</span> 0.0296 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Class P Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Reserves Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Class P Shares (P) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0055 0.0046 0.0116 -0.0014 0.0102 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 118 368 638 1409 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in (i) cash, (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowing for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized fully by government securities. The Fund will notify shareholders at least 60 days in advance of any change in this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s P Shares total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling the Fund at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s P Shares total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s P class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0333 0.0251 0.0148 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s P class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">2.81</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com.us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s P class 7-Day Net Yield as of December 31, 2025</span> 0.0281 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Select Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Select Shares (SEL) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0011 0.0026 -0.0008 0.0018 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 27 84 146 331 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Effective on August 1, 2019, the Fund’s Class R Shares were re-designated as Select Shares (SEL). Following the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">re-designation as SEL class, the expenses of the SEL class will be lower than the historical expenses of the R class and, therefore, the financial performance of the share class may differ accordingly. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The bar chart and performance table below </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">reflect historical performance data for the Fund, based on the historical expenses of the R class up through July 31, 2019, and are intended to help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SEL class total returns on a calendar year-by-year-basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">shows returns averaged over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling the Fund at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The bar chart and performance table below </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">reflect historical performance data for the Fund, based on the historical expenses of the R class up through July 31, 2019, and are intended to help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SEL class total returns on a calendar year-by-year-basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s SEL class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0421 0.0318 0.0186 2016-02-01 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SEL class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.66%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SEL class 7-Day Net Yield as of December 31, 2025</span> 0.0366 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Institutional Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Institutional Shares (IS) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0013 0.0028 -0.0008 0.0020 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 29 90 157 356 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s IS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s IS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s IS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0417 0.0315 0.0208 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s IS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.63%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s IS class 7-Day Net Yield as of December 31, 2025</span> 0.0363 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Service Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Service Shares (SS) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0035 0.0050 -0.0005 0.0045 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 51 160 280 628 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s SS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0395 0.0298 0.0190 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.42%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span> 0.0342 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Administrative Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Administrative Shares (ADM) of </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0005 0.0033 0.0053 -0.0008 0.0045 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 54 170 296 665 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s ADM class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling the Fund at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s ADM class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s ADM class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0391 0.0296 0.0223 2017-09-28 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s ADM class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.38%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s ADM class 7-Day Net Yield as of December 31, 2025</span> 0.0338 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Cash II Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Cash II Shares (CII) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0035 0.0041 0.0091 -0.0006 0.0085 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 93 290 504 1120 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risk in light of its historical returns. The bar chart shows the variability of the Fund’s CII class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risk in light of its historical returns. The bar chart shows the variability of the Fund’s CII class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s CII class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0351 0.0266 0.0160 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CII class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.01%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CII class 7-Day Net Yield as of December 31, 2025</span> 0.0301 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Cash Series Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Cash Series Shares (CS) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0060 0.0035 0.0110 -0.0005 0.0105 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 112 350 606 1340 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risk in light of its historical returns. The bar chart shows the variability of the Fund’s CS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risk in light of its historical returns. The bar chart shows the variability of the Fund’s CS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s CS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0336 0.0256 0.0150 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">2.83%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CS class 7-Day Net Yield as of December 31, 2025</span> 0.0283 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Capital Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Capital Shares (CAP) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0033 0.0048 -0.0018 0.0030 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 49 154 269 604 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CAP class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CAP class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s CAP class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0407 0.0307 0.0199 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CAP class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.53%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CAP class 7-Day Net Yield as of December 31, 2025</span> 0.0353 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Trust Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Trust Shares (TR) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0025 0.0036 0.0076 -0.0006 0.0070 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 78 243 422 942 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s TR class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s TR class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s TR class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0368 0.0278 0.0171 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s TR class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.15%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s TR class 7-Day Net Yield as of December 31, 2025</span> 0.0315 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Premier Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Premier Shares (PRM) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0008 0.0023 -0.0008 0.0015 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 24 74 130 293 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risk in light of its historical returns. The bar chart shows the variability of the Fund’s PRM class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risk in light of its historical returns. The bar chart shows the variability of the Fund’s PRM class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s PRM class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0422 0.0319 0.0212 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s PRM class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.68%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s PRM class 7-Day Net Yield as of December 31, 2025</span> 0.0368 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Advisor Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Advisor Shares (AVR) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0008 0.0023 -0.0008 0.0015 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 24 74 130 293 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AVR class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AVR class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s AVR class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0422 0.0319 0.0263 2019-01-18 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AVR class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.68%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AVR class 7-Day Net Yield as of December 31, 2025</span> 0.0368 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–SDG Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell SDG Shares (SDG) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0008 0.0023 -0.0008 0.0015 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 24 74 130 293 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">agreements collateralized fully by U.S. Treasury and government securities. The Fund may also hold cash. The Fund limits its investments to those that would enable it to qualify as a permissible investment for federally chartered credit unions as set forth in applicable federal banking regulations.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risk in light of its historical returns. The bar chart shows the variability of the Fund’s SDG class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">. The Average Annual Total Return Table shows returns averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risk in light of its historical returns. The bar chart shows the variability of the Fund’s SDG class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s SDG class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0422 0.0425 2022-03-30 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SDG class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.68%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SDG class 7-Day Net Yield as of December 31, 2025</span> 0.0368 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Automated Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Tax-Managed Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Automated Shares (AS) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0044 0.0059 -0.0004 0.0055 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 60 189 329 738 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less that pay </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">interest exempt from state personal income tax. The Fund may also hold cash, including cash earning interest at the Fund’s custodian.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Bank System and Tennessee Valley Authority. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government. Finally, the Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support, including the Farm Credit System. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">for investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less that pay </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">interest exempt from state personal income tax. The Fund may also hold cash, including cash earning interest at the Fund’s custodian.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Bank System and Tennessee Valley Authority. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government. Finally, the Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support, including the Farm Credit System. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">for investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s AS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0378 0.0285 0.0179 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.24</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AS class 7-Day Net Yield as of December 31, 2025</span> 0.0324 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Institutional Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Tax-Managed Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Institutional Shares (IS) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0009 0.0024 -0.0004 0.0020 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 25 77 135 306 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less that pay </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">interest exempt from state personal income tax. The Fund may also hold cash, including cash earning interest at the Fund’s custodian.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Bank System and Tennessee Valley Authority. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government. Finally, the Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support, including the Farm Credit System. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">for investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less that pay </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">interest exempt from state personal income tax. The Fund may also hold cash, including cash earning interest at the Fund’s custodian.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Bank System and Tennessee Valley Authority. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government. Finally, the Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support, including the Farm Credit System. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">for investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s IS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s IS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s IS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0414 0.0311 0.0205 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s IS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.59</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s IS class 7-Day Net Yield as of December 31, 2025</span> 0.0359 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Service Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Government Obligations Tax-Managed Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Service Shares (SS) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0034 0.0049 -0.0004 0.0045 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 50 157 274 616 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less that pay </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">interest exempt from state personal income tax. The Fund may also hold cash, including cash earning interest at the Fund’s custodian.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Bank System and Tennessee Valley Authority. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government. Finally, the Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support, including the Farm Credit System. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">for investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury and government securities maturing in 397 days or less that pay </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">interest exempt from state personal income tax. The Fund may also hold cash, including cash earning interest at the Fund’s custodian.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Bank System and Tennessee Valley Authority. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government. Finally, the Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support, including the Farm Credit System. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Under normal conditions, the Fund will invest its assets so that at least 80% of its net assets (plus any borrowings </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">for investment purposes) are invested in government securities and/or repurchase agreements that are collateralized by government securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s SS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0388 0.0292 0.0185 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.34</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span> 0.0334 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Automated Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Prime Cash Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity. The investment objective may be changed by the Fund’s Board of Trustees without Shareholder approval.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Automated Shares (AS) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0038 0.0053 -0.0003 0.0050 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 54 170 296 665 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. The Fund’s Adviser actively manages the Fund’s portfolio, seeking to limit the credit risk taken by the Fund and to select investments with appropriate risk-adjusted returns. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). The Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. As an efficient and cost-effective means of managing cash, the Fund may also invest in affiliated money market funds. These investments will be made pursuant to Rule 12d1-1 of the Investment Company Act of 1940, as amended (“1940 Act”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the 1940 Act (“Rule 2a-7”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. Such determination will be based on current market conditions and the Fund’s particular circumstances, and it is expected that such fee would be imposed, if at all, during periods of extraordinary market stress. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. The liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. If the Fund imposes a liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund concentrates its investments in one industry by investing more than 25% of its total assets in the financial services industry, its performance depends in large part on the performance of that industry. As a result, the value of an investment may fluctuate more widely since it is more susceptible to market, economic, political, regulatory, and other conditions and risks affecting that industry than a fund that invests more broadly across industries and sectors.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AS Shares total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AS Shares total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s AS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0399 0.0304 0.0199 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AS Class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.46%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AS Class 7-Day Net Yield as of December 31, 2025</span> 0.0346 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Class R Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Prime Cash Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity. The investment objective may be changed by the Fund’s Board of Trustees without Shareholder approval.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Class R Shares (R) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0050 0.0058 0.0123 -0.0008 0.0115 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, </span><span style="font-family:Arial Narrow;font-size:8pt;">2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 125 390 676 1489 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. The Fund’s Adviser actively manages the Fund’s portfolio, seeking to limit the credit risk taken by the Fund and to select investments with appropriate risk-adjusted returns. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). The Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. As an efficient and cost-effective means of managing cash, the Fund may also invest in affiliated money market funds. These investments will be made pursuant to Rule 12d1-1 of the Investment Company Act of 1940, as amended (“1940 Act”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the 1940 Act (“Rule 2a-7”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. Such determination will be based on current market conditions and the Fund’s particular circumstances, and it is expected that such fee would be imposed, if at all, during periods of extraordinary market stress. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. The liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. If the Fund imposes a liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund concentrates its investments in one industry by investing more than 25% of its total assets in the financial services industry, its performance depends in large part on the performance of that industry. As a result, the value of an investment may fluctuate more widely since it is more susceptible to market, economic, political, regulatory, and other conditions and risks affecting that industry than a fund that invests more broadly across industries and sectors.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s R Shares total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s R Shares total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s R class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0332 0.0256 0.0154 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s R class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">2.80%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s R class 7-Day Net Yield as of December 31, 2025</span> 0.0280 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Wealth Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Prime Cash Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity. The investment objective may be changed by the Fund’s Board of Trustees without Shareholder approval.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Wealth Shares (WS) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0009 0.0024 -0.0004 0.0020 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 25 77 135 306 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. The Fund’s Adviser actively manages the Fund’s portfolio, seeking to limit the credit risk taken by the Fund and to select investments with appropriate risk-adjusted returns. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). The Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. As an efficient and cost-effective means of managing cash, the Fund may also invest in affiliated money market funds. These investments will be made pursuant to Rule 12d1-1 of the Investment Company Act of 1940, as amended (“1940 Act”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the 1940 Act (“Rule 2a-7”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. Such determination will be based on current market conditions and the Fund’s particular circumstances, and it is expected that such fee would be imposed, if at all, during periods of extraordinary market stress. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. The liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. If the Fund imposes a liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund concentrates its investments in one industry by investing more than 25% of its total assets in the financial services industry, its performance depends in large part on the performance of that industry. As a result, the value of an investment may fluctuate more widely since it is more susceptible to market, economic, political, regulatory, and other conditions and risks affecting that industry than a fund that invests more broadly across industries and sectors.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table shown below reflect historical performance data for the Fund and are intended to </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s WS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table shown below reflect historical performance data for the Fund and are intended to </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s WS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s WS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0429 0.0327 0.0225 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s WS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.75%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s WS class 7-Day Net Yield as of December 31, 2025</span> 0.0375 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Advisor Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Prime Cash Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity. The investment objective may be changed by the Fund’s Board of Trustees without Shareholder approval.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Advisor Shares (AVR) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0009 0.0024 -0.0004 0.0020 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 25 77 135 306 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. The Fund’s Adviser actively manages the Fund’s portfolio, seeking to limit the credit risk taken by the Fund and to select investments with appropriate risk-adjusted returns. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). The Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. As an efficient and cost-effective means of managing cash, the Fund may also invest in affiliated money market funds. These investments will be made pursuant to Rule 12d1-1 of the Investment Company Act of 1940, as amended (“1940 Act”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the 1940 Act (“Rule 2a-7”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. Such determination will be based on current market conditions and the Fund’s particular circumstances, and it is expected that such fee would be imposed, if at all, during periods of extraordinary market stress. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. The liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. If the Fund imposes a liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund concentrates its investments in one industry by investing more than 25% of its total assets in the financial services industry, its performance depends in large part on the performance of that industry. As a result, the value of an investment may fluctuate more widely since it is more susceptible to market, economic, political, regulatory, and other conditions and risks affecting that industry than a fund that invests more broadly across industries and sectors.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AVR class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AVR class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s AVR class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0429 0.0327 0.0273 2019-01-18 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AVR class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.75%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AVR class 7-Day Net Yield as of December 31, 2025</span> 0.0375 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Service Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Prime Cash Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity. The investment objective may be changed by the Fund’s Board of Trustees without Shareholder approval.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Service Shares (SS) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0034 0.0049 -0.0004 0.0045 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 50 157 274 616 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. The Fund’s Adviser actively manages the Fund’s portfolio, seeking to limit the credit risk taken by the Fund and to select investments with appropriate risk-adjusted returns. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). The Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. As an efficient and cost-effective means of managing cash, the Fund may also invest in affiliated money market funds. These investments will be made pursuant to Rule 12d1-1 of the Investment Company Act of 1940, as amended (“1940 Act”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the 1940 Act (“Rule 2a-7”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. Such determination will be based on current market conditions and the Fund’s particular circumstances, and it is expected that such fee would be imposed, if at all, during periods of extraordinary market stress. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. The liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. If the Fund imposes a liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund concentrates its investments in one industry by investing more than 25% of its total assets in the financial services industry, its performance depends in large part on the performance of that industry. As a result, the value of an investment may fluctuate more widely since it is more susceptible to market, economic, political, regulatory, and other conditions and risks affecting that industry than a fund that invests more broadly across industries and sectors.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table shown below reflect historical performance data for the Fund and are intended to </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table shown below reflect historical performance data for the Fund and are intended to </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s SS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0404 0.0307 0.0203 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.50%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span> 0.0350 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Cash II Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Prime Cash Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity. The investment objective may be changed by the Fund’s Board of Trustees without Shareholder approval.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Cash II Shares (CII) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0035 0.0043 0.0093 -0.0003 0.0090 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 95 296 515 1143 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. The Fund’s Adviser actively manages the Fund’s portfolio, seeking to limit the credit risk taken by the Fund and to select investments with appropriate risk-adjusted returns. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). The Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. As an efficient and cost-effective means of managing cash, the Fund may also invest in affiliated money market funds. These investments will be made pursuant to Rule 12d1-1 of the Investment Company Act of 1940, as amended (“1940 Act”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the 1940 Act (“Rule 2a-7”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. Such determination will be based on current market conditions and the Fund’s particular circumstances, and it is expected that such fee would be imposed, if at all, during periods of extraordinary market stress. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. The liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. If the Fund imposes a liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund concentrates its investments in one industry by investing more than 25% of its total assets in the financial services industry, its performance depends in large part on the performance of that industry. As a result, the value of an investment may fluctuate more widely since it is more susceptible to market, economic, political, regulatory, and other conditions and risks affecting that industry than a fund that invests more broadly across industries and sectors.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CII Shares total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CII Shares total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s CII class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0357 0.0274 0.0170 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CII class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.07%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CII class 7-Day Net Yield as of December 31, 2025</span> 0.0307 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Cash Series Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Prime Cash Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity. The investment objective may be changed by the Fund’s Board of Trustees without Shareholder approval.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Cash Series Shares (CS) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0060 0.0043 0.0118 -0.0013 0.0105 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 120 375 649 1432 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. The Fund’s Adviser actively manages the Fund’s portfolio, seeking to limit the credit risk taken by the Fund and to select investments with appropriate risk-adjusted returns. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). The Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. As an efficient and cost-effective means of managing cash, the Fund may also invest in affiliated money market funds. These investments will be made pursuant to Rule 12d1-1 of the Investment Company Act of 1940, as amended (“1940 Act”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the 1940 Act (“Rule 2a-7”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. Such determination will be based on current market conditions and the Fund’s particular circumstances, and it is expected that such fee would be imposed, if at all, during periods of extraordinary market stress. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. The liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. If the Fund imposes a liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund concentrates its investments in one industry by investing more than 25% of its total assets in the financial services industry, its performance depends in large part on the performance of that industry. As a result, the value of an investment may fluctuate more widely since it is more susceptible to market, economic, political, regulatory, and other conditions and risks affecting that industry than a fund that invests more broadly across industries and sectors.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CS Shares total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CS Shares total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s CS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0342 0.0263 0.0160 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">2.91%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CS class 7-Day Net Yield as of December 31, 2025</span> 0.0291 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Capital Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Prime Cash Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity. The investment objective may be changed by the Fund’s Board of Trustees without Shareholder approval.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Capital Shares (CAP) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0034 0.0049 -0.0019 0.0030 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 50 157 274 616 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. The Fund’s Adviser actively manages the Fund’s portfolio, seeking to limit the credit risk taken by the Fund and to select investments with appropriate risk-adjusted returns. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). The Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. As an efficient and cost-effective means of managing cash, the Fund may also invest in affiliated money market funds. These investments will be made pursuant to Rule 12d1-1 of the Investment Company Act of 1940, as amended (“1940 Act”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the 1940 Act (“Rule 2a-7”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. Such determination will be based on current market conditions and the Fund’s particular circumstances, and it is expected that such fee would be imposed, if at all, during periods of extraordinary market stress. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. The liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. If the Fund imposes a liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund concentrates its investments in one industry by investing more than 25% of its total assets in the financial services industry, its performance depends in large part on the performance of that industry. As a result, the value of an investment may fluctuate more widely since it is more susceptible to market, economic, political, regulatory, and other conditions and risks affecting that industry than a fund that invests more broadly across industries and sectors.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table shown below reflect historical performance data for the Fund and are intended to </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CAP class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table shown below reflect historical performance data for the Fund and are intended to </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">help you analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CAP class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s CAP class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0419 0.0319 0.0216 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CAP class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.65%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CAP class 7-Day Net Yield as of December 31, 2025</span> 0.0365 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Trust Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Prime Cash Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal and liquidity. The investment objective may be changed by the Fund’s Board of Trustees without Shareholder approval.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Trust Shares (TR) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0025 0.0034 0.0074 -0.0004 0.0070 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, </span><span style="font-family:Arial Narrow;font-size:8pt;">2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 76 237 411 918 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. The Fund’s Adviser actively manages the Fund’s portfolio, seeking to limit the credit risk taken by the Fund and to select investments with appropriate risk-adjusted returns. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). The Fund may invest in government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. As an efficient and cost-effective means of managing cash, the Fund may also invest in affiliated money market funds. These investments will be made pursuant to Rule 12d1-1 of the Investment Company Act of 1940, as amended (“1940 Act”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the 1940 Act (“Rule 2a-7”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. Such determination will be based on current market conditions and the Fund’s particular circumstances, and it is expected that such fee would be imposed, if at all, during periods of extraordinary market stress. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. The liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. If the Fund imposes a liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund concentrates its investments in one industry by investing more than 25% of its total assets in the financial services industry, its performance depends in large part on the performance of that industry. As a result, the value of an investment may fluctuate more widely since it is more susceptible to market, economic, political, regulatory, and other conditions and risks affecting that industry than a fund that invests more broadly across industries and sectors.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s TR Shares total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s TR Shares total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s TR class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0381 0.0290 0.0185 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s TR class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.28%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s TR class 7-Day Net Yield as of December 31, 2025</span> 0.0328 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Institutional Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Institutional Prime Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Institutional Shares (IS) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and the examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0009 0.0024 -0.0004 0.0020 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 25 77 135 306 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund, it is possible to lose </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. Such determination, including the timing of the application of the liquidity fee, will be based on current market conditions and the Fund’s particular circumstances. The discretionary liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. Pursuant to Rule 2a-7, the Fund is required to impose a mandatory liquidity fee when the Fund experiences daily net redemptions that exceed 5% of net assets based on flow information available within a reasonable period after the last computation of the Fund’s net asset value on that calendar day. The Fund will not be required to apply a mandatory liquidity fee if the amount of the fee is less than 0.01% of the value of the shares redeemed, which is anticipated to be the case under normal market conditions. If the Fund imposes any liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund concentrates its investments in one industry by investing more than 25% of its total assets in the financial services industry, its performance depends in large part on the performance of that industry. As a result, the value of an investment may fluctuate more widely since it is more susceptible to market, economic, political, regulatory, and other conditions and risks affecting that industry than a fund that invests more broadly across industries and sectors.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Floating Net Asset Value Money Market Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no assurance that the Fund will maintain a stable NAV of $1.0000 per share on a continuous basis. The value of the Fund’s shares will be calculated to four decimal places and will fluctuate reflecting the value of the portfolio of investments held by the Fund. It is possible to lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Large Shareholder Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A significant percentage of the Fund’s shares may be owned or controlled by a large shareholder, such as other funds or accounts, including those of which the Adviser or an affiliate of the Adviser may have investment discretion. Accordingly, the Fund can be subject to the potential for large scale inflows and outflows as a result of purchases and redemptions made by significant shareholders. These inflows and outflows could be significant and, if frequently occurring, could negatively affect the Fund’s net asset value and performance and could cause the Fund to sell securities at inopportune times in order to meet redemption requests. Investments in the Fund by other investment companies also can create conflicts of interests for the Adviser to the Fund and the investment adviser to the acquiring fund. For example, a conflict of interest can arise due to the possibility that the investment adviser to the acquiring fund could make a decision to redeem the acquiring fund’s investment in the Fund. In the case of an investment by an affiliated fund, a conflict of interest can arise if, because of the acquiring fund’s investment in the Fund, the Fund is able to garner more assets from third-party investors, thereby growing the Fund and increasing the management fees received by the Adviser, which could also be the investment adviser to the acquiring fund.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity </span><span style="font-family:Times New Roman;font-size:10pt;margin-left:0.00pt;">constraints, natural disasters or </span><span style="font-family:Times New Roman;font-size:10pt;">public health risks, such as epidemics or pandemics, may, from time to time, and for </span><span style="font-family:Times New Roman;font-size:10pt;margin-left:0.00pt;">varying periods of time, have a significant effect on </span><span style="font-family:Times New Roman;font-size:10pt;">the economies of many nations, including the U.S., and financial </span><span style="font-family:Times New Roman;font-size:10pt;margin-left:0.00pt;">markets generally and cause the Fund to experience volatility, illiquidity, </span><span style="font-family:Times New Roman;font-size:10pt;">loss of value, shareholder redemptions, and/or </span><span style="font-family:Times New Roman;font-size:10pt;margin-left:0.00pt;">other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Because the share price of the Fund will fluctuate, when you sell your shares, they may be worth more or less than what you originally paid for them.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares. The Fund generally must impose a fee when net sales of Fund Shares exceed certain levels.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s IS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s IS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s IS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0434 0.0329 0.0227 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s IS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.78</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s IS class 7-Day Net Yield as of December 31, 2025</span> 0.0378 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Service Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Institutional Prime Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Service Shares (SS) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0034 0.0049 -0.0004 0.0045 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 50 157 274 616 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests primarily in a portfolio of high-quality, dollar-denominated, fixed-income securities which: (1) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">issued by banks and corporations in the U.S. and other countries and the U.S. government; and (2) mature in 397 days or less. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that are issued by entities whose activities are sponsored by the federal government, but that have no explicit financial support. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”).</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund, it is possible to lose </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Issuer Credit Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">It is possible that interest or principal on securities will not be paid when due. Money market funds try to minimize this risk by purchasing higher-quality securities.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Fees Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Pursuant to Rule 2a-7, the Fund may impose discretionary liquidity fees on redemptions subject to a determination by the Fund’s Board, or its delegate, that such a liquidity fee is in the Fund’s best interests. If the Fund’s Board, including a majority of the Independent Trustees, or its delegate, determines that imposing a liquidity fee is in the Fund’s best interests, the Fund will impose a discretionary liquidity fee not to exceed 2% of the value of the shares redeemed. Such determination, including the timing of the application of the liquidity fee, will be based on current market conditions and the Fund’s particular circumstances. The discretionary liquidity fee would be applied to all Fund redemptions and would remain in effect until the Fund’s Board, or its delegate, determines that the fee is no longer in the Fund’s best interests. Pursuant to Rule 2a-7, the Fund is required to impose a mandatory liquidity fee when the Fund experiences daily net redemptions that exceed 5% of net assets based on flow information available within a reasonable period after the last computation of the Fund’s net asset value on that calendar day. The Fund will not be required to apply a mandatory liquidity fee if the amount of the fee is less than 0.01% of the value of the shares redeemed, which is anticipated to be the case under normal market conditions. If the Fund imposes any liquidity fee, depending on how the redemption order is communicated, the proceeds delivered may be for an amount that is less than the original redemption.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Liquidity Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund concentrates its investments in one industry by investing more than 25% of its total assets in the financial services industry, its performance depends in large part on the performance of that industry. As a result, the value of an investment may fluctuate more widely since it is more susceptible to market, economic, political, regulatory, and other conditions and risks affecting that industry than a fund that invests more broadly across industries and sectors.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Call Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s performance may be adversely affected by the possibility that an issuer of a security held by the Fund may redeem the security prior to maturity at a price below or above its current market value.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Credit Enhancement Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking or bond insurance industries also may negatively affect the Fund, as the Fund may invest in securities credit enhanced by banks or by bond insurers without limit.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk of Foreign Investing.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Because the Fund invests in securities issued by foreign companies, the Fund may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Prepayment and Extension Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund may invest in asset-backed and mortgage-backed securities, which may be subject to prepayment risk. If interest rates fall, and unscheduled prepayments on such securities accelerate, the Fund will be required to reinvest the proceeds at the lower interest rates then available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed-income securities when interest rates rise.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Floating Net Asset Value Money Market Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no assurance that the Fund will maintain a stable NAV of $1.0000 per share on a continuous basis. The value of the Fund’s shares will be calculated to four decimal places and will fluctuate reflecting the value of the portfolio of investments held by the Fund. It is possible to lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Large Shareholder Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A significant percentage of the Fund’s shares may be owned or controlled by a large shareholder, such as other funds or accounts, including those of which the Adviser or an affiliate of the Adviser may have investment discretion. Accordingly, the Fund can be subject to the potential for large scale inflows and outflows as a result of purchases and redemptions made by significant shareholders. These inflows and outflows could be significant and, if frequently occurring, could negatively affect the Fund’s net asset value and performance and could cause the Fund to sell securities at inopportune times in order to meet redemption requests. Investments in the Fund by other investment companies also can create conflicts of interests for the Adviser to the Fund and the investment adviser to the acquiring fund. For example, a conflict of interest can arise due to the possibility that the investment adviser to the acquiring fund could make a decision to redeem the acquiring fund’s investment in the Fund. In the case of an investment by an affiliated fund, a conflict of interest can arise if, because of the acquiring fund’s investment in the Fund, the Fund is able to garner more assets from third-party investors, thereby growing the Fund and increasing the management fees received by the Adviser, which could also be the investment adviser to the acquiring fund.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy. </span><span style="font-family:Times New Roman;font-size:10pt;">The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Because the share price of the Fund will fluctuate, when you sell your shares, they may be worth more or less than what you originally paid for them.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund may impose a fee upon the sale of your shares. The Fund generally must impose a fee when net sales of Fund Shares exceed certain levels.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s SS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0411 0.0309 0.0206 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.55</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span> 0.0355 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Select Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Treasury Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Select Shares (SEL) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0011 0.0026 -0.0008 0.0018 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads)on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 27 84 146 331 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in </span><span style="font-family:Times New Roman;font-size:10pt;">this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SEL class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SEL class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s SEL class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0418 0.0480 2023-07-03 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SEL class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.65</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SEL class 7-Day Net Yield as of December 31, 2025</span> 0.0365 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Automated Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Treasury Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Automated Shares (AS) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0043 0.0058 -0.0008 0.0050 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads)on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 59 186 324 726 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in </span><span style="font-family:Times New Roman;font-size:10pt;">this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s AS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0385 0.0291 0.0184 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.33</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AS class 7-Day Net Yield as of December 31, 2025</span> 0.0333 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Institutional Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Treasury Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Institutional Shares (IS) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0013 0.0028 -0.0008 0.0020 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 29 90 157 356 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in </span><span style="font-family:Times New Roman;font-size:10pt;">this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s IS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s IS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s IS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0416 0.0315 0.0207 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s IS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.63</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s IS class 7-Day Net Yield as of December 31, 2025</span> 0.0363 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Advisor Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Treasury Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Advisor Shares (AVR) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0008 0.0023 -0.0008 0.0015 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 24 74 130 293 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in </span><span style="font-family:Times New Roman;font-size:10pt;">this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AVR class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s AVR class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s AVR class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0421 0.0483 2023-07-03 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AVR class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.68</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s AVR class 7-Day Net Yield as of December 31, 2025</span> 0.0368 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Service Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Treasury Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Service Shares (SS) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0035 0.0050 -0.0005 0.0045 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 51 160 280 628 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in </span><span style="font-family:Times New Roman;font-size:10pt;">this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s SS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0393 0.0297 0.0188 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.41</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span> 0.0341 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Administrative Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Treasury Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Administrative Shares (ADM) of </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0005 0.0033 0.0053 -0.0008 0.0045 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 54 170 296 665 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in </span><span style="font-family:Times New Roman;font-size:10pt;">this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s ADM class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s ADM class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s ADM class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0389 0.0451 2023-07-03 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s ADM class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.38</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s ADM class 7-Day Net Yield as of December 31, 2025</span> 0.0338 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Cash Management Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Treasury Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Cash Management Shares (CMS) </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0030 0.0033 0.0078 -0.0008 0.0070 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 80 249 433 966 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in </span><span style="font-family:Times New Roman;font-size:10pt;">this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CMS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CMS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s CMS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0364 0.0425 2023-07-03 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CMS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.13</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CMS class 7-Day Net Yield as of December 31, 2025</span> 0.0313 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Capital Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Treasury Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Capital Shares (CAP) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0033 0.0048 -0.0018 0.0030 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 49 154 269 604 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in </span><span style="font-family:Times New Roman;font-size:10pt;">this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CAP class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CAP class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s CAP class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0405 0.0307 0.0199 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CAP class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.53</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CAP class 7-Day Net Yield as of December 31, 2025</span> 0.0353 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Trust Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Treasury Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Trust Shares (TR) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0025 0.0034 0.0074 -0.0004 0.0070 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 76 237 411 918 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in </span><span style="font-family:Times New Roman;font-size:10pt;">this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s TR class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s TR class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s TR class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0369 0.0279 0.0171 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s TR class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.18</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s TR class 7-Day Net Yield as of December 31, 2025</span> 0.0318 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Premier Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Treasury Obligations Fund (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Premier Shares (PRM) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0008 0.0023 -0.0008 0.0015 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 24 74 130 293 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in </span><span style="font-family:Times New Roman;font-size:10pt;">this investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s PRM class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s PRM class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s PRM class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0421 0.0482 2023-07-03 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s PRM class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.68</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s PRM class 7-Day Net Yield as of December 31, 2025</span> 0.0368 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Automated Shares </span><span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Trust for U.S. Treasury Obligations (the “Fund”)</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="font-family:Times New Roman;font-size:10pt;">investment objective is to provide stability of principal and current income consistent with stability of principal.</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Automated Shares (AS) of the </span><span style="font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0039 0.0054 -0.0004 0.0050 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 55 173 302 677 <span style="font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in U.S. Treasury investments.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="font-family:Times New Roman;font-size:10pt;">invested in U.S. Treasury investments.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments, grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The total returns shown below are for an existing class of shares, Service Shares (SS) , offered by the Fund. </span><span style="font-family:Times New Roman;font-size:10pt;">The total returns for the SS class are disclosed below because the Automated Shares (AS) commenced operations on May 29, 2026.</span><span style="font-family:Times New Roman;font-size:10pt;">The total returns for the AS class would be substantially similar to the annual returns for the SS class over the same period because the classes are invested in the same portfolio of securities and would differ only to the extent the classes do not have the same expenses. The expense ratio of the AS class is higher than the expense ratio of the SS class; accordingly, the actual performance of the AS class will be lower than the performance of the SS class.</span><span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span><span style="font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="font-family:Times New Roman;font-size:10pt;">.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The total returns shown below are for an existing class of shares, Service Shares (SS) , offered by the Fund. </span><span style="font-family:Times New Roman;font-size:10pt;">The total returns for the SS class are disclosed below because the Automated Shares (AS) commenced operations on May 29, 2026.</span><span style="font-family:Times New Roman;font-size:10pt;">The total returns for the AS class would be substantially similar to the annual returns for the SS class over the same period because the classes are invested in the same portfolio of securities and would differ only to the extent the classes do not have the same expenses. The expense ratio of the AS class is higher than the expense ratio of the SS class; accordingly, the actual performance of the AS class will be lower than the performance of the SS class.</span> <span style="font-family:Times New Roman;font-size:10pt;">The total returns for the SS class are disclosed below because the Automated Shares (AS) commenced operations on May 29, 2026.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span> <span style="font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s SS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0389 0.0451 2023-07-03 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.38%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span> 0.0338 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Institutional Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Trust for U.S. Treasury Obligations (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide stability of principal and current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Institutional Shares (IS) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0009 0.0024 -0.0004 0.0020 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 25 77 135 306 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">invested in U.S. Treasury investments.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">invested in U.S. Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s IS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s IS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s IS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0415 0.0313 0.0206 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s IS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.63</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s IS class 7-Day Net Yield as of December 31, 2025</span> 0.0363 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Service Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Trust for U.S. Treasury Obligations (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide stability of principal and current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Service Shares (SS) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0 0.0034 0.0049 -0.0004 0.0045 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 50 157 274 616 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">invested in U.S. Treasury investments.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">invested in U.S. Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s SS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s SS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0389 0.0451 2023-07-03 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">3.38%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s SS class 7-Day Net Yield as of December 31, 2025</span> 0.0338 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Cash II Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Trust for U.S. Treasury Obligations (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide stability of principal and current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Cash II Shares (CII) of the Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0035 0.0044 0.0094 -0.0004 0.0090 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 96 300 520 1155 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">invested in U.S. Treasury investments.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">invested in U.S. Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CII class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CII class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s CII class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0343 0.0260 0.0155 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CII class 7-Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">2.93</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">%. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CII class 7-Day Net Yield as of December 31, 2025</span> 0.0293 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> <span style="color:#000000;font-family:Times New Roman;font-size:14pt;">Fund Summary Information</span><span style="color:#000000;font-family:Times New Roman;font-size:14pt;margin-left:2.33pt;">–Cash Series Shares </span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Federated Hermes Trust for U.S. Treasury Obligations (the “Fund”)</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund’s </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment objective is to provide stability of principal and current income consistent with stability of principal.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: FEES AND EXPENSES</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This table describes the fees and expenses that you may pay if you buy, hold and sell Cash Series Shares (CS) of the </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Fund. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees (fees paid directly from your investment)</span> 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</span> 0.0015 0.0060 0.0042 0.0117 -0.0012 0.0105 <span style="font-family:Arial Narrow;font-size:8pt;">October 1, 2027</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Example</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">mutual funds. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:</span> 119 372 644 1420 <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">What are the Fund’s Main Investment Strategies?</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">invested in U.S. Treasury investments.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Fund will notify shareholders at least 60 days in advance of any change in this </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">investment policy.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">collateralized fully by U.S. Treasury securities. The Fund may also hold cash.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940 (“Rule 2a-7”). </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">under the Investment Company Act of 1940, as amended (the “1940 Act”). “Government money market funds” are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are not required to adopt a liquidity fee framework.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">invested in U.S. Treasury investments.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">a stable NAV, it is possible to lose money by investing in the Fund.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">You could lose money by investing in the Fund.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Interest Rate Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund’s yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Related to the Economy.</span><span style="font-family:Times New Roman;font-size:10pt;"> The value of the Fund’s portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical and other events (e.g., wars, tensions, sanctions and terrorism), legislative changes or shifts in fiscal or monetary policy or reform, industry or economic trends and developments,</span><span style="font-family:Times New Roman;font-size:10pt;line-height:12pt;"> </span><span style="font-family:Times New Roman;font-size:10pt;">grid congestion or capacity constraints, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions, and/or other potentially adverse effects.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Counterparty Risk.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Investing Share Purchase Proceeds.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund’s yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund’s yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Risk Associated with Use of Amortized Cost.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> In the unlikely event that the Fund’s Board of Trustees (“Board”) were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund’s amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Additional Factors Affecting Yield. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund’s yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund’s ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:-11.04pt;position:relative;top:1pt;">■ </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Technology Risk. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.</span> <span style="color:#000000;font-family:Arial;font-size:8pt;font-weight:bold;text-transform:uppercase;">Performance: Bar Chart and Table</span><span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Risk/Return Bar Chart</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CS class total returns on a calendar year-by-year basis.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> The Average Annual Total Return Table shows returns </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">averaged </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">over the stated periods. </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Updated performance information for the Fund is available under the “Products” section at </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> or by calling </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">analyze the Fund’s investment risks in light of its historical returns. The bar chart shows the variability of the Fund’s CS class total returns on a calendar year-by-year basis.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;">The Fund’s performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">FederatedHermes.com/us</span> <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">1-800-341-7400</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Return Table</span> <span style="font-family:Times New Roman;font-size:10pt;margin-left:10pt;">The following table represents the Fund’s CS class Average Annual Total Returns for the calendar period ended </span><span style="font-family:Times New Roman;font-size:10pt;">December 31, 2025.</span> 0.0330 0.0250 0.0147 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CS class 7- Day Net Yield as of December 31, 2025</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">, was </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">2.80%</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">. You may go to </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;text-decoration:underline;">FederatedHermes.com/us</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> or call the Fund at </span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span><span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;"> for the current 7-Day Net Yield.</span> <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">The Fund’s CS class 7- Day Net Yield as of December 31, 2025</span> 0.0280 <span style="font-family:Arial Narrow;font-size:7.75pt;font-style:italic;">1-800-341-7400</span> The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s TR class (after the voluntary waivers and/or reimbursements) will not exceed 0.70% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Fund may incur and pay certain service fees (shareholder services/account administration fees) on its PRM class of up to a maximum of 0.25%. No such fees are currently anticipated to be incurred and paid by the PRM class of the Fund. The PRM class of the Fund will not incur and pay such Fees until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s PRM class (after the voluntary waivers and/or reimbursements) will not exceed 0.15% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased, prior to the Termination Date with the approval of the Trustees. The Fund may incur and pay certain service fees (shareholder services/account administration fees) on its AVR class of up to a maximum of 0.25%. No such fees are currently anticipated to be incurred and paid by the AVR class of the Fund. The AVR class of the Fund will not incur and pay such fees until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s AVR class (after the voluntary waivers and/or reimbursements) will not exceed 0.15% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased, prior to the Termination Date with the approval of the Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s SDG class (after the voluntary waivers and/or reimbursements) will not exceed 0.15% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased, prior to the Termination Date with the approval of the Trustees. The Fund may incur and pay certain service fees (shareholder services/account administration fees) on its SEL class of up to a maximum of 0.25%. The Fund will incur and pay up to 0.03% of such Fees for the SEL class of the Fund. The SEL class of the Fund will not incur and pay such Fees to exceed 0.03% until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates, on their own initiative, have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s SEL class (after the voluntary waivers and/or reimbursements) will not exceed 0.18% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Trustees. The Fund may incur and pay certain service fees (shareholder services/account administration fees) on its IS class of up to a maximum of 0.25%. The Fund will incur and pay up to 0.05% of such Fees for the IS class of the Fund. The IS class of the Fund will not incur and pay such Fees to exceed 0.05% until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s IS class (after the voluntary waivers and/or reimbursements) will not exceed 0.20% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased, prior to the Termination Date with the approval of the Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s SS class (after the voluntary waivers and/or reimbursements) will not exceed 0.45% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Fund may incur and pay a Distribution (12b-1) Fee on the ADM class of the Fund of up to a maximum of 0.10%. However, the ADM class of the Fund will not incur and pay a 12b-1 Fee in excess of 0.05% until such time as approved by the Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s ADM class (after the voluntary waivers and/or reimbursements) will not exceed 0.45% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Trustees. The Adviser and certain of its affiliates, on their own initiative, have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s CII class (after the voluntary waivers and/or reimbursements) will not exceed 0.85% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates, on their own initiative, have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s CS class (after the voluntary waivers and/or reimbursements) will not exceed 1.05% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s CAP class (after the voluntary waivers and/or reimbursements) will not exceed 0.30% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy related expenses, if any) paid by the Fund’s AS class (after the voluntary waivers and/or reimbursements) will not exceed 0.50% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Trustees. The Fund may incur and pay certain service fees (shareholder services/account administration fees) of up to a maximum amount of 0.25%. No such fees are currently incurred and paid by the IS class of the Fund. The IS class of the Fund will not incur and pay such fees until such time as approved by the Fund’s Board of Trustees (the “Trustees”). Under the investment advisory contract, the Adviser is required to reimburse/waive the amount, limited to the amount of the management fee, by which the Fund’s aggregate annual operating expenses, including the management fee, but excluding interest, taxes, brokerage commissions, expenses of registering and qualifying the Fund and its shares under federal and state laws, expenses of withholding taxes and extraordinary expenses exceed (after voluntary waivers and reimbursements) 0.45% of the Fund’s IS class average daily net assets. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses so that the total annual fund operating expenses (excluding acquired fund fees and expenses, extraordinary expenses, interest expense and proxy related expenses, if any) paid by the Fund’s IS class (after the voluntary waivers and/or reimbursements) will not exceed 0.20% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy related expenses, if any) paid by the Fund’s SS class (after the voluntary waivers and/or reimbursements) will not exceed 0.45% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Trustees. The Adviser and certain of its affiliates, on their own initiative, have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, extraordinary expenses, interest expense and proxy-related expenses, if any) paid by the Fund’s CII class (after the voluntary waivers and/or reimbursements) will not exceed 0.90% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates, on their own initiative, have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, extraordinary expenses, interest expense and proxy-related expenses, if any) paid by the Fund’s CS class (after the voluntary waivers and/or reimbursements) will not exceed 1.05% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s CAP class (after the voluntary waivers and/or reimbursements) will not exceed 0.30% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s TR class (after the voluntary waivers and/or reimbursements) will not exceed 0.70% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Fund’s Board of Trustees (the “Trustees”). The Fund may incur and pay certain service fees (shareholder services/account administration fees) on its PRM class of up to a maximum of 0.25%. No such fees are currently incurred and paid by the PRM class. The PRM class of the fund will not incur and pay such fees until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s PRM class (after the voluntary waivers and/or reimbursements) will not exceed 0.15% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Trustees. The Fund may incur and pay certain service fees (shareholder services/account administration fees) on its SEL class of up to a maximum of 0.25%. However, the SEL class of the Fund will not incur and pay such Fees in excess of 0.03% until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s SEL class (after the voluntary waivers and/or reimbursements) will not exceed 0.18% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s AS class (after the voluntary waivers and/or reimbursements) will not exceed 0.50% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees (the “Trustees”). The Fund may incur and pay certain service fees (shareholder services/account administration fees) on its IS class of up to a maximum of 0.25%. However, the IS class of the Fund will not incur and pay such Fees in excess of 0.05% until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s IS class (after the voluntary waivers and/or reimbursements) will not exceed 0.20% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Trustees. The Fund may incur and pay certain service fees (shareholder services/account administration fees) on its AVR class of up to a maximum of 0.25%. No such fees are currently incurred and paid by the AVR class. The AVR class of the fund will not incur and pay such fees until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s AVR class (after the voluntary waivers and/or reimbursements) will not exceed 0.15% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s SS class (after the voluntary waivers and/or reimbursements) will not exceed 0.45% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Fund’s Board of Trustees (the “Trustees”). The Fund may incur and pay a Distribution (12b-1) Fee on the ADM class of the Fund of up to a maximum of 0.10%. However, the ADM class of the Fund will not incur and pay a 12b-1 Fee in excess of 0.05% until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s ADM class (after the voluntary waivers and/or reimbursements) will not exceed 0.45% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s CMS class (after the voluntary waivers and/or reimbursements) will not exceed 0.70% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. The total annual fund operating expenses (excluding interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund (after the voluntary waivers and/or reimbursements) will not exceed 1.02% (the “Fee Limit”), up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements, prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s A and C classes (after the voluntary waivers and reimbursements) will not exceed 0.87% and 1.27% (the “Fee Limit”), respectively, up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund (after the voluntary waivers and/or reimbursements) will not exceed 1.02% (the “Fee Limit”), up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s AS class (after the voluntary waivers and/or reimbursements) will not exceed 0.55% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Fund may incur and pay certain service fees (shareholder services/account administration fees) on its IS class of up to a maximum amount of 0.25%. No such fees are currently incurred and paid by the IS class of the Fund. The IS class of the Fund will not incur and pay such fees until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s IS class (after the voluntary waivers and/or reimbursements) will not exceed 0.20% (the “Fee Limit”), up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s SS class (after the voluntary waivers and/or reimbursements) will not exceed 0.45% (the “Fee Limit”), up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The IS class of the Fund may incur and pay certain service fees (shareholder services/account administration fees) of up to a maximum amount of 0.25%. No such fees are currently incurred and paid by the IS class of the Fund. The IS class of the Fund will not incur and pay such fees until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s IS class (after the voluntary waivers and/or reimbursements) will not exceed 0.20% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s SS class (after the voluntary waivers and/or reimbursements) will not exceed 0.45% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s CAP class (after the voluntary waivers and/or reimbursements) will not exceed 0.30% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates, on their own initiative, have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s TR class (after the voluntary waivers and/or reimbursements) will not exceed 0.70% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s AS class (after the voluntary waivers and/or reimbursements) will not exceed 0.50% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s R class (after the voluntary waivers and/or reimbursements) will not exceed 1.15% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Trustees. The Fund may incur and pay certain service fees (shareholder services/account administration fees) on its WS class of up to a maximum of 0.25%. No such fees are currently incurred and paid by the WS class of the Fund. The WS class of the Fund will not incur and pay such fees until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s WS class (after the voluntary waivers and/or reimbursements) will not exceed 0.20% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Trustees. The Fund may incur and pay certain service fees (shareholder services/account administration fees) on its AVR class of up to a maximum of 0.25%. No such fees are currently incurred and paid by the AVR class of the Fund. The AVR class of the Fund will not incur and pay such fees until such time as approved by the Fund’s Board of Trustees (the “Trustees”). The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s AVR class (after the voluntary waivers and/or reimbursements) will not exceed 0.20% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s SS class (after the voluntary waivers and/or reimbursements) will not exceed 0.45% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated, or the Fee Limit increased, prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates, on their own initiative, have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s CII class (after the voluntary waivers and/or reimbursements) will not exceed 0.90% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees. The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding interest expense, extraordinary expenses and proxy-related expenses, if any) paid by the Fund’s CS class (after the voluntary waivers and/or reimbursements) will not exceed 1.05% (the “Fee Limit”) up to but not including the later of (the “Termination Date”): (a) October 1, 2027; or (b) the date of the Fund’s next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the approval of the Fund’s Board of Trustees.