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      <invstOrSec>
        <name>DELANCO TWP NJ</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.7500000000</annualizedRt>
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      <invstOrSec>
        <name>DENVER CITY &amp; CNTY CO ARPT REVENUE</name>
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        <title>City &amp; County of Denver CO Airport System Revenue</title>
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        <curCd>USD</curCd>
        <valUSD>809505.3400000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
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        <name>EATONTOWN BORO NJ</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>ENERGY S E AL A COOPERATIVE DIST ENERGY SPLY REVENUE</name>
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          <isin value="US292723DA87"/>
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        <curCd>USD</curCd>
        <valUSD>355748.5400000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0000000000</annualizedRt>
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        <name>HEARD CNTY GA DEV AUTH</name>
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        <curCd>USD</curCd>
        <valUSD>2000000.0000000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>HERTFORD CNTY NC INDL FACS &amp; POLL CONTROL FING AUTH</name>
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          <isin value="US428007AB45"/>
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        <fairValLevel>2</fairValLevel>
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        <name>HERTFORD CNTY NC INDL FACS &amp; POLL CONTROL FING AUTH</name>
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          <isin value="US428007AC28"/>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ILLINOIS ST</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>JP MORGAN CHASE PUTTERS/DRIVERS TRUST VARIOUS STATES</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BURKE COUNTY DEVELOPMENT AUTHORITY (GA)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>JP MORGAN CHASE PUTTERS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KEARNY NJ</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>LIBERTY CNTY FL INDL DEV REVENUE</name>
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          <isin value="US530375AJ36"/>
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        <fairValLevel>2</fairValLevel>
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        <name>LITTLE FALLS TWP NJ</name>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MONROE CNTY GA DEV AUTH POLL CONTROL REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>MONTANA ST BRD OF HSG MFH REVENUE</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>2.9000000000</annualizedRt>
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        <name>NUVEEN CALIFORNIA AMT-FREE QUALITY MUNICIPAL INCOME FUND</name>
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          <isin value="US6706518684"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>2.58</annualizedRt>
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      <invstOrSec>
        <name>NUVEEN NEW YORK AMT-FREE MUN INCOME FD</name>
        <lei>549300V4X2BF3UXSCQ58</lei>
        <title>Nuveen New York AMT-Free Quality Municipal Income Fund</title>
        <cusip>670656867</cusip>
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          <isin value="US6706568671"/>
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        <curCd>USD</curCd>
        <valUSD>6000000.0000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.53</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CUMBERLAND COUNTY FINANCE CORP (NC)</name>
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          <isin value="US230589AB90"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>DERUYTER NY CENTRL SCH DIST</name>
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          <isin value="US25007RCS76"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>PHOENIX CITY INDUSTRIAL DEVELOPMENT AUTHORITY (THE) (AZ)</name>
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          <isin value="US71884RAA05"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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        <lei>N/A</lei>
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          <isin value="US768126GK43"/>
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        <balance>3731000.00</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.7500000000</annualizedRt>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SAINT JAMES PARISH LA REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>MOBILE AL INDL DEV BRD REVENUE</name>
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          <isin value="US607166AA34"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>PORT OF CORPUS CHRISTI TX AUTH</name>
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          <isin value="US733908AL12"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>SALMON RIV CENT SCH DIST N Y</name>
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          <isin value="US795472LC15"/>
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        <fairValLevel>2</fairValLevel>
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        <name>TENDER OPTION BOND TRUST</name>
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        <fairValLevel>2</fairValLevel>
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        <lei>N/A</lei>
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        <balance>1265954.00</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>WAYNE CNTY MI ARPT AUTH REVENUE</name>
        <lei>N/A</lei>
        <title>Wayne County Airport Authority</title>
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          <isin value="US9445142R87"/>
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        <balance>4700000.00</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WAYNE CNTY MI ARPT AUTH REVENUE</name>
        <lei>N/A</lei>
        <title>Wayne County Airport Authority</title>
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          <isin value="US944514YM46"/>
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        <balance>3000000.00</balance>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CHATTANOOGA HEALTH EDUCATIONAL AND HOUSING (TN)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHERRY VLY-SPRINGFIELD NY CENTRL SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CLYDE-SAVANNAH NY CENTRL SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ELLICOTTVILLE N Y CENT SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL HOME LOAN MTGE CORP MF VARIABLE RATE CTFS</name>
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          <isin value="US31350AAE82"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FLORIDA ST HSG FIN CORP MF MTGE REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GARFIELD CNTY OK INDL AUTH POLL CONTROL REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>JP MORGAN CHASE PUTTERS</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>JOHNSBURG N Y CENT SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MET ATLANTA RAPID TRANSIT AUTH GA SALES TAX REVENUE</name>
        <lei>5493006NVWO3NVLK0F49</lei>
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        <cusip>591746EE8</cusip>
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        <valUSD>2000000.0000000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.9000000000</annualizedRt>
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      <invstOrSec>
        <name>MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MICHIGAN ST HSG DEV AUTH MF HSG REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.0000000000</annualizedRt>
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      <invstOrSec>
        <name>MINNESOTA RURAL WTR FIN AUTH</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MIZUHO FLOATER/RESIDUAL TRUST VARIOUS STATES</name>
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          <isin value="US60700HPB95"/>
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        <valUSD>6000000.0000000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>MIZUHO FLOATER/RESIDUAL TRUST VARIOUS STATES</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MIZUHO FLOATER/RESIDUAL TRUST VARIOUS STATES</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>MIZUHO FLOATER/RESIDUAL TRUST VARIOUS STATES</name>
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          <isin value="US60700HVJ57"/>
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        <fairValLevel>2</fairValLevel>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>NEW HOPE CULTURAL EDU FACS FIN CORP TX HOSP REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK CITY NY MUNI WTR FIN AUTH WTR &amp; SWR SYS REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NUVEEN AMT-FREE QUALITY MUNICIPAL INCOME FUND</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2652618.4500000000</valUSD>
        <pctVal>0.4442524705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.2500000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-10-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Federated Hermes Adviser Series</ncom:nameOfApplicant>
      <ncom:signature>Stephen Van Meter</ncom:signature>
      <ncom:signerName>Federated Hermes Adviser Series</ncom:signerName>
      <ncom:title>Chief Compliance Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
