- Q3 2026 earnings per diluted share of $1.50
- Equity assets reach a record $110.5 billion
- Board declares $0.38 per share dividend
PITTSBURGH, Oct. 29, 2026 /PRNewswire/ -- Federated Hermes, Inc. (NYSE: FHI), a global leader in active investing, today reported earnings per diluted share (EPS) of $1.50 for Q3 2026, compared to EPS of $1.34 for the same quarter last year, on net income of $111.9 million for Q3 2026, compared to net income of $104.1 million for Q3 2025.
Federated Hermes' total managed assets were $884.4 billion at Sept. 30, 2026, up $13.2 billion or 2% from $871.2 billion at Sept. 30, 2025 and down $27.2 billion or 3% from $911.6 billion at June 30, 2026. Total average managed assets for Q3 2026 were $897.7 billion, up $38.2 billion or 4% from $859.5 billion for Q3 2025 and down $12.3 billion or 1% from $910.0 billion for Q2 2026.
"Federated Hermes generated positive net equity sales in the third quarter of 2026, including across our MDT suite of quantitative investment solutions. Assets in MDT institutional separate accounts and MDT subadvised accounts, as well as total equity assets, reached record highs," said J. Christopher Donahue, president and chief executive officer. "We also continued to see demand for our alternative strategies, including our MDT Market Neutral offerings, with alternative/private markets fund assets reaching record highs."
Federated Hermes' board of directors declared a dividend of $0.38 per share. The dividend is payable on Nov. 13, 2026 to shareholders of record as of Nov. 6, 2026. During Q3 2026, Federated Hermes purchased 992,312 shares of Federated Hermes class B common stock for $57.4 million.
Equity assets were a record $110.5 billion at Sept. 30, 2026, up $15.8 billion or 17% from $94.7 billion at Sept. 30, 2025 and up $0.9 billion or 1% from $109.6 billion at June 30, 2026. Top-selling equity funds during Q3 2026 on a net basis were Federated Hermes MDT Large Cap Growth Fund, Federated Hermes MDT Small Cap Core ETF, Federated Hermes MDT All Cap Core Fund, Federated Hermes MDT Large Cap Value Fund and Federated Hermes U.S. Strategic Dividend ETF.
Fixed-income assets were $99.4 billion at Sept. 30, 2026, down $2.4 billion or 2% from $101.8 billion at Sept. 30, 2025 and down $1.1 billion or 1% from $100.5 billion at June 30, 2026. Top-selling fixed-income funds during Q3 2026 on a net basis were Federated Hermes Sterling Cash Plus Fund, Federated Hermes Municipal Ultrashort Fund, Federated Hermes Ultrashort Bond Fund, Federated Hermes Total Return Bond ETF and Federated Hermes Conservative Municipal Microshort Fund.
Alternative/private markets assets were $21.7 billion at Sept. 30, 2026, up $2.7 billion or 14% from $19.0 billion at Sept. 30, 2025 and up $0.1 billion from $21.6 billion at June 30, 2026.
Money market assets were $649.9 billion at Sept. 30, 2026, down $2.9 billion from $652.8 billion at Sept. 30, 2025 and down $27.0 billion or 4% from $676.9 billion at June 30, 2026. Money market fund assets were $486.3 billion at Sept. 30, 2026, down $6.4 billion or 1% from $492.7 billion at Sept. 30, 2025 and down $13.6 billion or 3% from $499.9 billion at June 30, 2026.
Financial Summary
Q3 2026 vs. Q3 2025
Revenue increased $37.9 million or 8% primarily due to an increase from higher average equity assets and the Q2 2026 acquisition of FCP Fund Manager, L.P., now operating as Federated Hermes FCP Manager, LLC (FCP).
During Q3 2026, Federated Hermes derived 50% of its revenue from long-term assets (32% from equity, 10% from fixed-income and 8% from alternative/private markets and multi-asset), 49% from money market assets and 1% from sources other than managed assets.
Operating expenses increased $14.0 million or 4% primarily due to an $8.5 million increase in distribution expenses resulting primarily from higher average money market fund assets and a $7.1 million increase in compensation and related expense primarily due to the acquisition of FCP.
Nonoperating income (expenses), net for Q3 2026 decreased $12.1 million primarily due to a decrease in the market value of investments in Q3 2026 as compared to an increase in the market value of investments in Q3 2025 and a decrease in interest and dividend income.
Q3 2026 vs. Q2 2026
Revenue increased $4.6 million or 1% primarily due to higher average equity assets.
Operating expenses decreased $15.9 million or 4% primarily due to a $9.8 million decrease in compensation and related expense and a $6.1 million decrease in professional service fees expense primarily due to $6.5 million and $4.6 million, respectively, of FCP acquisition-related expenses in Q2 2026.
Nonoperating income (expenses), net decreased $12.4 million primarily due to a decrease in the market value of investments in Q3 2026 as compared to an increase in the market value of investments in Q2 2026.
YTD 2026 vs. YTD 2025
Revenue increased $171.2 million or 13% primarily due to an increase from higher average equity assets and money market assets and the acquisition of FCP in Q2 2026.
For the first nine months of 2026, Federated Hermes derived 51% of its revenue from money market assets, 48% from long-term assets (31% from equity, 10% from fixed-income, and 7% from alternative/private markets and multi-asset) and 1% from sources other than managed assets.
Operating expenses increased $137.0 million or 15% primarily due to a $57.5 million increase in distribution expenses resulting primarily from higher average money market fund assets, a $34.6 million increase in compensation and related expense primarily due to compensation related to the acquisition of FCP and higher incentive compensation, an increase of $25.2 million in other expense primarily due to a value added tax (VAT) refund received in Q1 2025 related to amended VAT filings in the U.K. and fluctuations in foreign currency exchange rates and a $9.0 million increase in professional service fees primarily due to FCP acquisition-related expenses and an increase in global project costs.
Nonoperating income (expenses), net decreased $15.5 million primarily due to the deconsolidation of two Federated Hermes Funds.
Earnings call information
Federated Hermes will host an earnings conference call at 9 a.m. Eastern on Friday, Oct. 30, 2026. Investors are invited to listen to the earnings teleconference by calling 888-506-0062 (domestic) or 973-528-0011 (international) prior to the 9 a.m. start time. To listen online, go to the About section of FederatedHermes.com and select links for Investor Relations and Earnings call and webcast. A replay will be available at approximately 12:30 p.m. Eastern on Oct. 30, 2026. To access the telephone replay, dial 877-481-4010 (domestic) or 919-882-2331 (international) and enter access code 54652. The online replay will be available via FederatedHermes.com for three months.
About Federated Hermes
Federated Hermes, Inc. is a global leader in active investment management, with $884.4 billion in assets under management1. We deliver investment solutions that help investors target a broad range of outcomes and provide equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies to more than 11,000 institutions and intermediaries worldwide. Our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes has more than 2,100 employees in London, New York, Boston and offices worldwide.
Federated Hermes ranks in the top 5% of equity fund managers, the top 9% of money market fund managers and the top 11% of fixed-income fund managers2 in the industry. Federated Hermes also ranks as the 9th-largest manager of model-delivered separately managed accounts3. For more information, including an analyst presentation, which is updated periodically, visit FederatedHermes.com.
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1) As of Sept.30, 2026.
2) Morningstar, Sept.30, 2026. Based on U.S. fund flows rankings.
3) Money Management Institute/Cerulli Q2 2026.
Federated Securities Corp. is distributor of the Federated Hermes funds.
Separately managed accounts are made available through Federated Global Investment Management Corp., Federated Investment Counseling, Federated MDTA LLC, Hermes Fund Managers Ireland Limited, Hermes Investment Management Limited, Hermes GPE LLP, and Federated Hermes FCP Manager, LLC, each a registered investment advisor in one or more of the U.S., U.K. or Ireland.
Cautionary statements
Certain statements in this press release, such as those related to performance, investment strategies, opportunities to meet client needs, investment offerings, investor preferences and demand, asset flows and asset mix constitute or may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the company, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements can include statements that do not relate strictly to historical or current facts and are typically identified by words or phrases such as "trend," "forecast," "project," "predict," "potential," "approximate," "opportunity," "believe," "expect," "anticipate," "current," "intention," "estimate," "position," "projection," "plan," "assume," "continue," "remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "can," "may," and similar expressions. Any forward-looking statement, and Federated Hermes' level of business activity and financial results, are inherently subject to significant business, market, economic, competitive, regulatory and other risks and uncertainties, many of which are difficult to predict and beyond Federated Hermes' control. Other risks and uncertainties include the ability of the company to predict the level of fee waivers and expenses in future quarters, predict whether performance fees or carried interest will be earned and retained, the ability of the company to sustain product demand, the timing and level of product sales and redemptions, market appreciation or depreciation, revenues, and asset levels, flows and mix, which could vary significantly depending on various factors, such as market conditions, investment performance and investor behavior. Other risks and uncertainties include the risk factors discussed in the company's annual and quarterly reports as filed with the Securities and Exchange Commission. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the company nor any other person assumes responsibility for the accuracy and completeness, or updating, of such statements in the future.
Unaudited Condensed Consolidated Statements of Income
(in thousands, except per share data)
Quarter Ended % Quarter Ended %
Change Change
Q3 2025 Q2 2026
to Q3 to Q3
2026 2026
Sept. 30, Sept. 30,
2026 2025 June 30, 2026
Revenue
Investment advisory fees, net $346,791 $310,366 12 % $337,721 3 %
Administrative service fees, net-affiliates 110,492 107,234 3 110,117 0
Other service fees, net 50,046 51,846 (3) 54,938 (9)
Total Revenue 507,329 469,446 8 502,776 1
Operating Expenses
Compensation and related 151,706 144,563 5 161,528 (6)
Distribution 122,038 113,569 7 121,766 0
Systems and communications 26,156 26,023 1 25,950 1
Professional service fees 19,510 20,239 (4) 25,610 (24)
Office and occupancy 9,522 10,129 (6) 9,836 (3)
Advertising and promotional 5,548 5,264 5 7,329 (24)
Intangible asset related 4,924 3,556 38 6,384 (23)
Travel and related 4,782 4,665 3 4,558 5
Other 9,836 11,986 (18) 6,934 42
Total Operating Expenses 354,022 339,994 4 369,895 (4)
Operating Income 153,307 129,452 18 132,881 15
Nonoperating Income (Expenses)
Investment income (loss), net 1,951 14,105 (86) 14,330 (86)
Debt expense (3,165) (3,182) (1) (3,159) 0
Other, net (27) (48) (44) (22) 23
Total Nonoperating Income (Expenses), net (1,241) 10,875 (111) 11,149 (111)
Income before income taxes 152,066 140,327 8 144,030 6
Income tax provision 41,187 34,232 20 37,216 11
Net income including the noncontrolling interests 110,879 106,095 5 106,814 4
in subsidiaries
Less: Net income (loss) attributable to the (1,006) 1,969 (151) 2,496 (140)
noncontrolling interests in subsidiaries
Net Income $111,885 $104,126 7 % $104,318 7 %
Amounts Attributable to Federated Hermes, Inc.
Earnings Per Share
(1)
Basic and diluted $1.50 $1.34 12 % $1.38 9 %
Weighted-Average Shares Outstanding
Basic 70,996 74,057 71,944
Diluted 70,997 74,057 71,947
Dividends Declared Per Share $0.38 $0.34 $0.38
1) Unvested share-based awards that receive non-forfeitable dividend rights are deemed
participating securities and are required to be considered in the computation of earnings
per share under the "two-class method." As such, total net income of $5.1 million, $4.7
million and $4.8 million available to unvested restricted Federated Hermes shareholders for
the quarterly periods ended Sept. 30, 2026, Sept. 30, 2025 and June 30, 2026, respectively,
was excluded from the computation of earnings per share.
Unaudited Condensed Consolidated Statements of Income
(in thousands, except per share data)
Nine Months Ended
Sept. 30, 2026 Sept. 30, 2025 % Change
Revenue
Investment advisory fees, net $1,003,920 $885,261 13 %
Administrative service fees, net-affiliates 330,894 310,000 7
Other service fees, net 154,248 122,569 26
Total Revenue 1,489,062 1,317,830 13
Operating Expenses
Compensation and related 467,353 432,705 8
Distribution 369,548 312,052 18
Systems and communications 78,570 73,730 7
Professional service fees 66,456 57,415 16
Office and occupancy 29,419 29,991 (2)
Advertising and promotional 16,975 15,985 6
Intangible asset related 14,730 10,255 44
Travel and related 13,190 12,335 7
Other 20,302 (4,946) NM
Total Operating Expenses 1,076,543 939,522 15
Operating Income 412,519 378,308 9
Nonoperating Income (Expenses)
Investment income (loss), net 22,935 38,527 (40)
Debt expense (9,509) (9,531) 0
Other, net (80) (110) (27)
Total Nonoperating Income (Expenses), net 13,346 28,886 (54)
Income before income taxes 425,865 407,194 5
Income tax provision 112,226 100,532 12
Net income including the noncontrolling interests in subsidiaries 313,639 306,662 2
Less: Net income (loss) attributable to the noncontrolling interests in 1,058 10,402 (90)
subsidiaries
Net Income $312,581 $296,260 6 %
Amounts Attributable to Federated Hermes, Inc.
Earnings Per Share
(1)
Basic and diluted $4.15 $3.75 11 %
Weighted-Average Shares Outstanding
Basic 71,856 75,541
Diluted 71,858 75,544
Dividends Declared Per Share $1.10 $0.99
1) Unvested share-based awards that receive non-forfeitable dividend rights are deemed
participating securities and are required to be considered in the computation of earnings
per share under the "two-class method." As such, total net income of $14.2 million and
$13.3 million available to unvested restricted Federated Hermes shareholders for the nine
months ended Sept. 30, 2026 and Sept. 30, 2025, respectively, was excluded from the
computation of earnings per share.
Unaudited Condensed Consolidated Balance Sheets
(in thousands) Sept. 30, 2026 Dec. 31, 2025
Assets
Cash and other investments $580,271 $724,297
Other current assets 162,327 139,495
Intangible assets, net, including goodwill 1,499,333 1,183,612
Other long-term assets 225,146 181,933
Total Assets $2,467,077 $2,229,337
Liabilities, Redeemable Noncontrolling Interests and Equity
Current liabilities $299,649 $314,141
Long-term debt 348,565 348,369
Other long-term liabilities 356,000 303,350
Redeemable noncontrolling interests 171,943 66,529
Equity excluding treasury stock 2,322,714 2,070,162
Treasury stock (1,031,794) (873,214)
Total Liabilities, Redeemable Noncontrolling Interests and Equity $2,467,077 $2,229,337
Unaudited Changes in Long-Term Assets - By Asset Class
(in millions)
Quarter Ended Nine Months Ended
Sept. 30, June 30, Sept. 30, Sept. 30, Sept. 30,
2026 2026 2025 2026 2025
Equity
Beginning assets $109,590 $100,832 $88,994 $97,898 $79,423
Sales(1) 8,527 9,062 6,845 26,680 22,218
Redemptions(1) (6,624) (10,202) (6,975) (23,704) (19,148)
Net sales (redemptions)(1) 1,903 (1,140) (130) 2,976 3,070
Net exchanges 1 134 154 (4) 40
Impact of foreign exchange(2) (81) (37) (85) (405) 1,692
Market gains and (losses)(3) (874) 9,801 5,723 10,074 10,431
Ending assets $110,539 $109,590 $94,656 $110,539 $94,656
Fixed Income
Beginning assets $100,487 $99,798 $98,687 $100,127 $98,059
Sales(1) 7,085 7,687 7,545 20,699 18,756
Redemptions(1) (6,385) (7,864) (5,887) (20,598) (19,827)
Net sales (redemptions)(1) 700 (177) 1,658 101 (1,071)
Net exchanges (7) (153) (134) (12) (28)
Impact of foreign exchange(2) (20) (12) (22) (72) 271
Market gains and (losses)(3) (1,761) 1,031 1,624 (745) 4,582
Ending assets $99,399 $100,487 $101,813 $99,399 $101,813
Alternative/Private Markets
Beginning assets $21,647 $18,991 $20,738 $19,101 $18,864
Sales(1) 562 650 670 1,841 2,537
Redemptions(1) (701) (1,002) (2,291) (2,250) (3,866)
Net sales (redemptions)(1) (139) (352) (1,621) (409) (1,329)
Net exchanges 1 8 0 9 0
Acquisitions/(dispositions) 0 3,237 0 3,237 109
Impact of foreign exchange(2) (11) 26 (341) (260) 1,282
Market gains and (losses)(3) 236 (263) 248 56 98
Ending assets $21,734 $21,647 $19,024 $21,734 $19,024
Multi-asset
Beginning assets $2,939 $2,778 $2,856 $2,854 $2,883
Sales(1) 45 41 45 144 152
Redemptions(1) (85) (102) (92) (281) (334)
Net sales (redemptions)(1) (40) (61) (47) (137) (182)
Net exchanges 0 0 (3) 1 (3)
Market gains and (losses)(3) (44) 222 134 137 242
Ending assets $2,855 $2,939 $2,940 $2,855 $2,940
Total Long-term Assets
Beginning assets $234,663 $222,399 $211,275 $219,980 $199,229
Sales(1) 16,219 17,440 15,105 49,364 43,663
Redemptions(1) (13,795) (19,170) (15,245) (46,833) (43,175)
Net sales (redemptions)(1) 2,424 (1,730) (140) 2,531 488
Net exchanges (5) (11) 17 (6) 9
Acquisitions/(dispositions) 0 3,237 0 3,237 109
Impact of foreign exchange(2) (112) (23) (448) (737) 3,245
Market gains and (losses)(3) (2,443) 10,791 7,729 9,522 15,353
Ending assets $234,527 $234,663 $218,433 $234,527 $218,433
1) For certain accounts, including separately managed accounts, institutional accounts, certain
sub-advised funds and other managed offerings, Sales and Redemptions are calculated as the
remaining difference between beginning and ending assets after the calculation of total
investment return.
2) Reflects the impact of translating non-U.S. dollar denominated assets under management (AUM)
into U.S. dollars for reporting purposes.
3) Reflects the approximate changes in the fair value of the securities held by the portfolios
and, to a lesser extent, reinvested dividends, distributions and net investment income.
Unaudited Changes in Long-Term Assets - By Asset Class and Offering Type
(in millions)
Quarter Ended
Sept. 30, 2026
Equity Fixed Income Alternative /
Private Multi-asset Total
Markets
Funds Separate Funds Separate Funds Separate Funds Separate Funds. Separate
Accounts(1) Accounts(1) Accounts(1) Accounts(1) Accounts(1)
Beginning assets $64,069 $45,521 $46,189 $54,298 $14,918 $6,729 $2,935 $4 $128,111 $106,552
Sales 4,333 4,194 3,841 3,244 489 73 44 1 8,707 7,512
Redemptions (4,322) (2,302) (4,040) (2,345) (566) (135) (85) 0 (9,013) (4,782)
Net sales (redemptions) 11 1,892 (199) 899 (77) (62) (41) 1 (306) 2,730
Net exchanges 1 0 (7) 0 1 0 0 0 (5) 0
Impact of foreign exchange(2) (53) (28) (13) (7) (7) (4) 0 0 (73) (39)
Market gains and (losses)(3) (922) 48 (1,001) (760) 244 (8) (45) 1 (1,724) (719)
Ending assets $63,106 $47,433 $44,969 $54,430 $15,079 $6,655 $2,849 $6 $126,003 $108,524
Nine Months Ended
Sept. 30, 2026
Equity Fixed Income Alternative /
Private Multi-asset Total
Markets
Funds Separate Funds Separate Funds Separate Funds Separate Funds Separate
Accounts(1) Accounts(1) Accounts(1) Accounts(1) Accounts(1)
Beginning assets $54,988 $42,910 $45,973 $54,154 $12,085 $7,016 $2,850 $4 $115,896 $104,084
Sales 15,631 11,049 11,693 9,006 1,674 167 143 1 29,141 20,223
Redemptions (12,963) (10,741) (12,027) (8,571) (1,545) (705) (281) 0 (26,816) (20,017)
Net sales (redemptions) 2,668 308 (334) 435 129 (538) (138) 1 2,325 206
Net exchanges (24) 20 (12) 0 9 0 1 0 (26) 20
Acquisition/(dispositions) 0 0 0 0 2,788 449 0 0 2,788 449
Impact of foreign exchange(2) (279) (126) (42) (30) (154) (106) 0 0 (475) (262)
Market gains and (losses)(3) 5,753 4,321 (616) (129) 222 (166) 136 1 5,495 4,027
Ending assets $63,106 $47,433 $44,969 $54,430 $15,079 $6,655 $2,849 $6 $126,003 $108,524
1) Includes separately managed accounts, institutional accounts, certain sub-advised funds and
other managed offerings. For certain accounts, Sales and Redemptions are calculated as the
remaining difference between beginning and ending assets after the calculation of total
investment return.
2) Reflects the impact of translating non-U.S. dollar denominated AUM into U.S. dollars for
reporting purposes.
3) Reflects the approximate changes in the fair value of the securities held by the portfolios
and, to a lesser extent, reinvested dividends, distributions and net investment income.
Unaudited Changes in Long-Term Assets - By Offering Type
(in millions)
Quarter Ended Nine Months Ended
Sept. 30, June 30, Sept. 30, Sept. 30, Sept. 30,
2026 2026 2025 2026 2025
Total Fund Assets
Beginning assets $128,111 $116,222 $110,409 $115,896 $103,567
Sales 8,707 9,927 9,018 29,141 27,050
Redemptions (9,013) (8,837) (8,349) (26,816) (26,278)
Net sales (redemptions) (306) 1,090 669 2,325 772
Net exchanges (5) (1) 17 (26) 20
Acquisitions/(dispositions) 0 2,788 0 2,788 109
Impact of foreign exchange(1) (73) (59) (294) (475) 1,704
Market gains and (losses)(2) (1,724) 8,071 4,414 5,495 9,043
Ending assets $126,003 $128,111 $115,215 $126,003 $115,215
Total Separate Account Assets
(3)
Beginning assets $106,552 $106,177 $100,866 $104,084 $95,662
Sales4 7,512 7,513 6,087 20,223 16,613
Redemptions4 (4,782) (10,333) (6,896) (20,017) (16,897)
Net sales (redemptions)4 2,730 (2,820) (809) 206 (284)
Net exchanges 0 (10) 0 20 (11)
Acquisitions/(dispositions) 0 449 0 449 0
Impact of foreign exchange(1) (39) 36 (154) (262) 1,541
Market gains and (losses)(2) (719) 2,720 3,315 4,027 6,310
Ending assets $108,524 $106,552 $103,218 $108,524 $103,218
Total Long-term Assets
(3)
Beginning assets $234,663 $222,399 $211,275 $219,980 $199,229
Sales4 16,219 17,440 15,105 49,364 43,663
Redemptions4 (13,795) (19,170) (15,245) (46,833) (43,175)
Net sales (redemptions)4 2,424 (1,730) (140) 2,531 488
Net exchanges (5) (11) 17 (6) 9
Acquisitions/(dispositions) 0 3,237 0 3,237 109
Impact of foreign exchange(1) (112) (23) (448) (737) 3,245
Market gains and (losses)(2) (2,443) 10,791 7,729 9,522 15,353
Ending assets $234,527 $234,663 $218,433 $234,527 $218,433
1) Reflects the impact of translating non-U.S. dollar denominated AUM into U.S. dollars for
reporting purposes.
2) Reflects the approximate changes in the fair value of the securities held by the portfolios
and, to a lesser extent, reinvested dividends, distributions and net investment income.
3) Includes separately managed accounts, institutional accounts, certain sub-advised funds and
other managed offerings.
4) For certain accounts, Sales and Redemptions are calculated as the remaining difference
between beginning and ending assets after the calculation of total investment return.
Unaudited Managed Assets
(in millions) Sept. 30, June 30, March 31, Dec. 31, Sept. 30,
2026 2026 2026 2025 2025
By Asset Class
---
Equity(1) $110,539 $109,590 $100,832 $97,898 $94,656
Fixed-Income 99,399 100,487 99,798 100,127 101,813
Alternative / Private Markets 21,734 21,647 18,991 19,101 19,024
Multi-Asset(1) 2,855 2,939 2,778 2,854 2,940
Total Long-Term Assets 234,527 234,663 222,399 219,980 218,433
Money Market 649,883 676,897 684,748 682,604 652,767
Total Managed Assets $884,410 $911,560 $907,147 $902,584 $871,200
By Offering Type
---
Funds:
Equity $63,106 $64,069 $55,188 $54,988 $54,110
Fixed-Income 44,969 46,189 45,921 45,973 46,478
Alternative / Private Markets 15,079 14,918 12,339 12,085 11,814
Multi-Asset 2,849 2,935 2,774 2,850 2,813
Total Long-Term Assets 126,003 128,111 116,222 115,896 115,215
Money Market 486,270 499,927 502,775 508,403 492,701
Total Fund Assets $612,273 $628,038 $618,997 $624,299 $607,916
Separate Accounts:
Equity(1) $47,433 $45,521 $45,644 $42,910 $40,546
Fixed-Income 54,430 54,298 53,877 54,154 55,335
Alternative / Private Markets 6,655 6,729 6,652 7,016 7,210
Multi-Asset(1) 6 4 4 4 127
Total Long-Term Assets 108,524 106,552 106,177 104,084 103,218
Money Market 163,613 176,970 181,973 174,201 160,066
Total Separate Account Assets $272,137 $283,522 $288,150 $278,285 $263,284
Total Managed Assets $884,410 $911,560 $907,147 $902,584 $871,200
1) A Separate Account was reclassified from Multi-Asset to Equity effective October 1, 2025.
Unaudited Average Managed Assets
Quarter Ended
(in millions) Sept. 30, June 30, March 31, Dec. 31, Sept. 30,
2026 2026 2026 2025 2025
By Asset Class
---
Equity(1) $112,104 $107,031 $102,037 $96,404 $92,436
Fixed-Income 100,137 100,041 100,996 100,855 99,206
Alternative / Private Markets 22,000 22,359 19,232 18,971 19,862
Multi-Asset(1) 2,928 2,898 2,859 2,836 2,895
Total Long-Term Assets 237,169 232,329 225,124 219,066 214,399
Money Market 660,526 677,685 690,450 654,635 645,092
Total Avg. Managed Assets $897,695 $910,014 $915,574 $873,701 $859,491
By Offering Type
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Funds:
Equity $64,370 $60,933 $56,987 $55,101 $51,828
Fixed-Income 46,043 45,827 46,096 46,116 45,743
Alternative / Private Markets 15,198 15,253 12,254 11,871 12,347
Multi-Asset 2,923 2,893 2,855 2,833 2,770
Total Long-Term Assets 128,534 124,906 118,192 115,921 112,688
Money Market 491,758 498,338 507,752 493,355 482,237
Total Avg. Fund Assets $620,292 $623,244 $625,944 $609,276 $594,925
Separate Accounts:
Equity(1) $47,734 $46,098 $45,050 $41,303 $40,608
Fixed-Income 54,094 54,214 54,900 54,739 53,463
Alternative / Private Markets 6,802 7,106 6,978 7,100 7,515
Multi-Asset(1) 5 5 4 3 125
Total Long-Term Assets 108,635 107,423 106,932 103,145 101,711
Money Market 168,768 179,347 182,698 161,280 162,855
Total Avg. Separate Account Assets $277,403 $286,770 $289,630 $264,425 $264,566
Total Avg. Managed Assets $897,695 $910,014 $915,574 $873,701 $859,491
1) A Separate Account was reclassified from Multi-Asset to Equity effective October 1, 2025.
Unaudited Average Managed Assets Nine Months Ended
(in millions) Sept. 30, 2026 Sept. 30, 2025
By Asset Class
---
Equity(1) $107,057 $86,035
Fixed-Income 100,392 98,977
Alternative / Private Markets 21,197 19,642
Multi-Asset(1) 2,895 2,858
Total Long-Term Assets 231,541 207,512
Money Market 676,220 639,154
Total Avg. Managed Assets $907,761 $846,666
By Offering Type
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Funds:
Equity $60,763 $47,684
Fixed-Income 45,989 45,477
Alternative / Private Markets 14,235 12,109
Multi-Asset 2,890 2,733
Total Long-Term Assets 123,877 108,003
Money Market 499,283 469,549
Total Avg. Fund Assets $623,160 $577,552
Separate Accounts:
Equity(1) $46,294 $38,351
Fixed-Income 54,403 53,500
Alternative / Private Markets 6,962 7,533
Multi-Asset(1) 5 125
Total Long-Term Assets 107,664 99,509
Money Market 176,937 169,605
Total Avg. Separate Account Assets $284,601 $269,114
Total Avg. Managed Assets $907,761 $846,666
1) A Separate Account was reclassified from Multi-Asset to Equity effective October 1, 2025.
View original content:https://www.prnewswire.com/news-releases/federated-hermes-inc-reports-third-quarter-2026-earnings-302924209.html
SOURCE Federated Hermes, Inc.
