Federated Hermes Kaufmann Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Federated Hermes Kaufmann Fund held 153 positions with $4.66B in net assets. Its ten largest holdings made up 28.7% of the fund. The KAUAX share class costs 1.96% a year. Over the 12 months to May 2026, KAUAX returned 13.6%, with dividends reinvested. In 2026 Q3 it added 16 new positions and exited 21.
The Funds investment objective is to provide capital appreciation.
The fund pursues capital appreciation by selecting small- and medium-sized companies through a bottom-up, growth-oriented process, with up to 30% of assets allocated to foreign securities. The fund may use derivatives and hybrid instruments to adjust portfolio exposure or hedge risk. Concentration in a particular country or group of countries may increase exposure to the risks of those markets.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
5.92% | $276.19M | 379.5K | $727.77 | |
4.03% | $187.87M | 173.4K | $1,083.46 | |
3.20% | $149.06M | 81.0K | $1,840.25 | |
FEDERATED HERMES MONEY MARKET OBLIGATIONS TRUST | 2.98% | $138.77M | — | — |
Argenx SE | 2.90% | $135.39M | 173.0K | $782.39 |
2.37% | $110.61M | 381.5K | $289.93 | |
AMZNAMAZON.COM INC | 1.93% | $90.12M | 340.0K | $265.06 |
TSMTAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | 1.89% | $88.32M | 223.0K | $396.06 |
1.77% | $82.56M | 305.9K | $269.89 | |
KLACKLA CORP | 1.73% | $80.52M | 46.0K | $1,750.35 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 153 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 95.72% |
| Cash & short-term | 2.98% |
| Derivatives | 1.35% |
Derivatives are shown at market value, not notional exposure.
By sector
- Industrials
- 24.7%
- Information Technology
- 20.8%
- Health Care
- 19.5%
- International
- 15.4%
- 9 other sectors
- 19.6%
- Industrials
- 24.7%
- Information Technology
- 20.8%
- Health Care
- 19.5%
- International
- 15.4%
- Consumer Discretionary
- 5.0%
- Financials
- 4.1%
- Consumer Staples
- 3.2%
- Real Estate
- 2.1%
- Utilities
- 1.9%
- Other
- 1.4%
- Materials
- 1.2%
- Energy
- 0.7%
- Cash
- 0.0%
How it has done
KAUAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 14.14%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 5 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.96% | +13.62% | +54.50% | +14.36% | -14.97% | |
| — | — | — | — | — | |
| 2.46% | +13.24% | +52.41% | +11.49% | -14.95% | |
| 1.96% | +13.75% | +54.25% | +14.26% | -14.92% | |
| 1.46% | +14.32% | +56.89% | +17.25% | -14.75% |
Fees & fund details
Federated Hermes Kaufmann Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 1.46% – 2.46%· KAUAX 1.96%
- Portfolio turnover
- 28.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
16 new· the largest 8
21 exited· the largest 8
Understand how this fund fits with the rest.
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