SCHEDULE: Federated Hermes Discloses 6.75% Stake in MGP Ingredients

Federated Hermes, Inc. and related entities have filed an amended Schedule 13G, disclosing beneficial ownership of 6.75% of MGP Ingredients, Inc. common stock as of December 31, 2025.

Summary

• Federated Hermes, Inc., along with the Voting Shares Irrevocable Trust and its trustees (Thomas R. Donahue, Ann C. Donahue, and J. Christopher Donahue), reported beneficial ownership of 1,437,836 shares of MGP Ingredients, Inc. common stock.
• This represents 6.75% of the company's outstanding common stock.
• The filing is an Amendment No. 1 to a Schedule 13G, indicating a change in previously reported ownership or status.
• Federated Hermes, Inc. is the parent holding company of investment advisers (Federated Investment Counseling and Federated MDTA LLC) that manage funds owning these shares.
• The Voting Shares Irrevocable Trust holds all voting stock of Federated Hermes, Inc., with the Donahues acting as trustees.
• All reporting persons explicitly disclaim beneficial ownership of the securities held by the Managed Funds, stating the report should not be construed as an admission of such ownership.

Sentiment

Score: 5

Explanation: A Schedule 13G filing is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the issuer's performance or prospects. It is a neutral, regulatory compliance document.

Positives

• The filing indicates a significant institutional stake (6.75%) in MGP Ingredients, which can be viewed as a vote of confidence from a major asset manager like Federated Hermes.
• The disclosure provides transparency regarding the ownership structure and control persons associated with this substantial holding.

Negatives

• The filing itself does not contain negative financial or operational information about MGP Ingredients.
• The explicit disclaimer of beneficial ownership by the reporting persons might be interpreted by some as a lack of direct, long-term commitment, though this is standard practice for institutional filings of this nature.

Risks

• The reporting persons explicitly disclaim beneficial ownership of the securities held by the Managed Funds, which means their direct financial exposure and control over these specific shares are limited by their fiduciary duties to the funds.
• Changes in the investment strategies of the underlying managed funds could lead to future adjustments in the reported ownership percentage.

Future Outlook

NA

Management Comments

• In accordance with Rule 13d-4 under the Exchange Act, Federated Hermes, Inc.; the Voting Shares Irrevocable Trust; Thomas R. Donahue; Ann C. Donahue; and J. Christopher Donahue declare that this report should not be construed as an admission that any of them is the beneficial owner of the securities held by any of the Managed Funds, and each of Federated Hermes, Inc.; the Voting Shares Irrevocable Trust; Thomas R. Donahue; Ann C. Donahue; and J. Christopher Donahue expressly disclaim beneficial ownership of such securities.
• It is understood and agreed that the joint filing of Schedule 13G shall not be construed as an admission that the reporting persons named herein constitute a group for purposes of Regulation 13D-G of the Securities Exchange Act of 1934, nor is a joint venture for purposes of the Investment Company Act of 1940.

Industry Context

This filing reflects a routine disclosure of a significant passive investment by a major asset management firm, Federated Hermes, in a publicly traded company within the food and beverage or spirits industry (MGP Ingredients). Such disclosures are common and provide transparency on institutional ownership trends, but do not inherently provide specific industry-wide insights beyond the fact that MGP Ingredients remains an attractive investment for large funds.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional shareholder and its associated control persons. This can offer insight into the institutional interest in MGP Ingredients.
• Management: Awareness of a substantial passive stake held by a major asset manager.

Key Dates

Keywords

MGP Ingredients, Federated Hermes, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Investment Management, SEC Filing, Voting Shares Irrevocable Trust