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Concentration Risk
 9 Months Ended
Sep. 30, 2025
Risks and Uncertainties [Abstract]  
Concentration Risk Concentration Risk
(a) Revenue Concentration by Asset Class
The following table presents Federated Hermes’ significant revenue concentration by asset class:
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
Money Market Assets52 %51 %53 %51 %
Equity Assets29 %29 %28 %29 %
Fixed-Income Assets11 %12 %11 %12 %
(b) Revenue Concentration by Investment Offering Strategy
The following table presents Federated Hermes’ revenue concentration by investment offering strategy:
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
Federated Hermes Government Obligations Fund17 %16 %16 %15 %
Federated Hermes Prime Cash Obligations Fund 11 %10 %11 %9 %
A significant and prolonged decline in the AUM in these offerings can have a material adverse effect on Federated Hermes’ future revenues and, to a lesser extent, net income, due to a related reduction in distribution expenses associated with these offerings.
(c) Revenue Concentration by Intermediary
Approximately 8% and 9% of Federated Hermes’ total revenue for the three- and nine-month periods ended September 30, 2025, and 10% for the three- and nine-month periods ended September 30, 2024, was derived from services provided to one intermediary, The Bank of New York Mellon Corporation, including its Pershing subsidiary. Significant negative changes in Federated Hermes’ relationship with this intermediary can have a material adverse effect on Federated Hermes’ future revenues and, to a lesser extent, net income due to a related reduction in distribution expenses associated with this intermediary.