Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen China A Share Equity Fund
Shares or Principal Amount | Value | |||||||
COMMON STOCKS (90.8%) | ||||||||
CHINA (90.8%) | ||||||||
Consumer Discretionary (14.1%) | ||||||||
China Tourism Group Duty Free Corp. Ltd., A Shares (Stock Connect)(a) | 192,595 | $ | 7,193,850 | |||||
Fuyao Glass Industry Group Co. Ltd., A Shares(a) | 296,041 | 2,218,490 | ||||||
Haier Smart Home Co. Ltd., A Shares(a) | 190,500 | 736,583 | ||||||
Midea Group Co. Ltd., A Shares (Stock Connect)(a) | 411,642 | 4,055,165 | ||||||
SAIC Motor Corp. Ltd., A Shares (Stock Connect)(a) | 62,000 | 176,309 | ||||||
14,380,397 | ||||||||
Consumer Staples (19.3%) | ||||||||
By-health Co. Ltd., A Shares(a) | 330,688 | 1,405,322 | ||||||
Chacha Food Co. Ltd., A Shares(a) | 214,500 | 1,252,153 | ||||||
Foshan Haitian Flavouring & Food Co. Ltd., A Shares(a) | 175,312 | 3,113,523 | ||||||
Inner Mongolia Yili Industrial Group Co. Ltd., A Shares(a) | 262,400 | 1,357,786 | ||||||
Kweichow Moutai Co. Ltd., A Shares (Stock Connect)(a) | 29,363 | 7,637,755 | ||||||
Proya Cosmetics Co. Ltd., A Shares(a) | 35,600 | 889,033 | ||||||
Wuliangye Yibin Co. Ltd., A Shares(a) | 119,137 | 4,082,968 | ||||||
19,738,540 | ||||||||
Energy (0.0%) | ||||||||
G3 Exploration Ltd.(b)(c)(d) | 53,000 | — | ||||||
Financials (14.0%) | ||||||||
Bank of Ningbo Co. Ltd., A Shares(a) | 482,715 | 2,422,393 | ||||||
China International Capital Corp. Ltd., H Shares(e) | 355,200 | 818,211 | ||||||
China Merchants Bank Co. Ltd., A Shares(a) | 664,432 | 4,789,755 | ||||||
Ping An Bank Co. Ltd., A Shares(a) | 946,700 | 2,592,144 | ||||||
Ping An Insurance Group Co. of China Ltd., A Shares(a) | 442,137 | 3,677,991 | ||||||
14,300,494 | ||||||||
Health Care (11.3%) | ||||||||
Aier Eye Hospital Group Co. Ltd., A Shares(a) | 349,458 | 3,186,719 | ||||||
Hangzhou Tigermed Consulting Co. Ltd., A Shares(a) | 82,767 | 2,024,573 | ||||||
Hangzhou Tigermed Consulting Co. Ltd., H Shares(e) | 53,600 | 1,040,936 | ||||||
Jiangsu Hengrui Medicine Co. Ltd., A Shares(a) | 313,895 | 2,648,821 | ||||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., A Shares(a) | 44,210 | 2,678,655 | ||||||
11,579,704 | ||||||||
Industrials (11.0%) | ||||||||
Centre Testing International Group Co. Ltd., A Shares (Stock Connect)(a) | 564,388 | 2,374,935 | ||||||
Contemporary Amperex Technology Co. Ltd., A Shares(a) | 38,279 | 3,280,757 | ||||||
Guangzhou Baiyun International Airport Co. Ltd., A Shares(a) | 315,200 | 427,611 | ||||||
NARI Technology Co. Ltd., A Shares (Stock Connect)(a) | 480,960 | 2,339,407 | ||||||
Shanghai International Airport Co. Ltd., A Shares (Stock Connect)(a) | 216,810 | 1,295,339 | ||||||
Shanghai M&G Stationery, Inc., A Shares(a) | 142,680 | 1,561,337 | ||||||
Sungrow Power Supply Co. Ltd., A Shares (Stock Connect)(a) | 500 | 13,037 | ||||||
11,292,423 | ||||||||
Information Technology (13.5%) | ||||||||
Beijing Sinnet Technology Co. Ltd., A Shares(a) | 409,689 | 1,025,884 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen China A Share Equity Fund
Glodon Co. Ltd., A Shares(a) | 268,189 | $ | 2,621,780 | |||||
Hundsun Technologies, Inc., A Shares(a) | 159,850 | 1,380,568 | ||||||
LONGi Green Energy Technology Co. Ltd., A Shares(a) | 220,920 | 2,949,133 | ||||||
Luxshare Precision Industry Co. Ltd., A Shares(a) | 413,270 | 2,371,965 | ||||||
Venustech Group, Inc., A Shares(a) | 427,100 | 2,097,135 | ||||||
Yonyou Network Technology Co. Ltd., A Shares(a) | 245,900 | 1,365,289 | ||||||
13,811,754 | ||||||||
Materials (5.5%) | ||||||||
Anhui Conch Cement Co. Ltd., A Shares(a) | 260,456 | 1,428,536 | ||||||
Wanhua Chemical Group Co. Ltd., A Shares(a) | 109,017 | 1,925,464 | ||||||
Yunnan Energy New Material Co. Ltd., A Shares (Stock Connect)(a) | 57,720 | 2,224,369 | ||||||
5,578,369 | ||||||||
Real Estate (2.1%) | ||||||||
China Vanke Co. Ltd., A Shares(a) | 682,273 | 2,183,023 | ||||||
92,864,704 | ||||||||
Total Common Stocks | 92,864,704 | |||||||
EXCHANGE-TRADED FUNDS (3.9%) | ||||||||
CHINA (1.1%) | ||||||||
Xtrackers Harvest CSI 300 China A Shares ETF(a)(f) | 31,096 | 1,171,075 | ||||||
UNITED STATES (2.8%) | ||||||||
KraneShares Bosera MSCI China A Shares ETF(f) | 63,441 | 2,850,087 | ||||||
Total Exchange-Traded Funds | 4,021,162 | |||||||
SHORT-TERM INVESTMENT—5.4% | ||||||||
UNITED STATES (5.4%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(g) | 5,500,530 | 5,500,530 | ||||||
5,500,530 | ||||||||
Total Short-Term Investment | 5,500,530 | |||||||
Total Investments (Cost $107,026,515) —100.1% | 102,386,396 | |||||||
Liabilities in Excess of Other Assets—(0.1)% | (145,689 | ) | ||||||
Net Assets—100.0% | $ | 102,240,707 |
(a) | China A Shares. These shares are issued in local currency, traded in the local stock markets and are held through either a Qualified Foreign Institutional Investor (QFII) license or the Shanghai or Shenzhen Hong-Kong Stock Connect program. |
(b) | Non-income producing security. |
(c) | Illiquid security. |
(d) | Trading halted. Fair Value is determined pursuant to procedures approved by the Fund's Board of Trustees. |
(e) | Denotes a security issued under Regulation S or Rule 144A. |
(f) | All or a portion of the securities are on loan. The total value of all securities on loan is $1,287,552. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers. |
(g) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
ETF | Exchange-Traded Fund |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen Dynamic Dividend Fund
Shares or Principal Amount | Value | |||||||
COMMON STOCKS (97.1%) | ||||||||
AUSTRALIA (1.2%) | ||||||||
Materials (1.2%) | ||||||||
Rio Tinto PLC, ADR | 18,158 | $ | 1,567,217 | |||||
BRAZIL (2.4%) | ||||||||
Industrials (1.1%) | ||||||||
CCR SA | 559,200 | 1,395,785 | ||||||
Materials (1.3%) | ||||||||
Vale SA, ADR | 78,700 | 1,654,274 | ||||||
3,050,059 | ||||||||
CANADA (2.4%) | ||||||||
Energy (1.3%) | ||||||||
Enbridge, Inc. | 43,500 | 1,711,725 | ||||||
Materials (1.1%) | ||||||||
Barrick Gold Corp. | 64,000 | 1,393,280 | ||||||
3,105,005 | ||||||||
CHINA (4.0%) | ||||||||
Communication Services (1.0%) | ||||||||
Tencent Holdings Ltd. | 22,500 | 1,356,934 | ||||||
Consumer Discretionary (1.0%) | ||||||||
Shenzhou International Group Holdings Ltd. | 59,000 | 1,309,403 | ||||||
Financials (1.1%) | ||||||||
Ping An Insurance Group Co. of China Ltd., H Shares | 155,800 | 1,363,381 | ||||||
Real Estate (0.9%) | ||||||||
China Vanke Co. Ltd., H Shares | 425,400 | 1,108,190 | ||||||
5,137,908 | ||||||||
DENMARK (1.6%) | ||||||||
Financials (1.6%) | ||||||||
Tryg A/S | 83,333 | 2,059,555 | ||||||
FINLAND (1.6%) | ||||||||
Financials (0.8%) | ||||||||
Nordea Bank Abp | 86,300 | 1,010,608 | ||||||
Information Technology (0.8%) | ||||||||
Nokia OYJ(a) | 170,250 | 1,046,074 | ||||||
2,056,682 | ||||||||
FRANCE (6.7%) | ||||||||
Consumer Discretionary (1.2%) | ||||||||
LVMH Moet Hennessy Louis Vuitton SE | 1,900 | 1,521,267 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Dynamic Dividend Fund
Consumer Staples (1.1%) | ||||||||
Danone SA | 19,800 | $ | 1,456,359 | |||||
Energy (1.0%) | ||||||||
TOTAL SE, ADR | 29,600 | 1,291,448 | ||||||
Health Care (1.2%) | ||||||||
Sanofi | 15,100 | 1,556,406 | ||||||
Industrials (2.2%) | ||||||||
Alstom SA(a) | 30,400 | 1,260,881 | ||||||
Schneider Electric SE | 9,400 | 1,574,390 | ||||||
2,835,271 | ||||||||
8,660,751 | ||||||||
GERMANY (5.0%) | ||||||||
Financials (1.0%) | ||||||||
Deutsche Boerse AG | 8,000 | 1,334,911 | ||||||
Health Care (0.7%) | ||||||||
Bayer AG | 16,100 | 959,222 | ||||||
Information Technology (1.0%) | ||||||||
Infineon Technologies AG | 33,900 | 1,295,459 | ||||||
Materials (1.1%) | ||||||||
Linde PLC(a) | 4,700 | 1,441,227 | ||||||
Utilities (1.2%) | ||||||||
RWE AG | 41,900 | 1,489,782 | ||||||
6,520,601 | ||||||||
HONG KONG (0.9%) | ||||||||
Financials (0.9%) | ||||||||
Hong Kong Exchanges & Clearing Ltd. | 18,700 | 1,195,111 | ||||||
INDONESIA (1.0%) | ||||||||
Communication Services (1.0%) | ||||||||
Telkom Indonesia Persero Tbk PT | 6,062,000 | 1,358,851 | ||||||
ITALY (1.1%) | ||||||||
Utilities (1.1%) | ||||||||
Enel SpA | 155,000 | 1,428,407 | ||||||
JAPAN (2.0%) | ||||||||
Financials (1.1%) | ||||||||
Mitsubishi UFJ Financial Group, Inc. | 263,900 | 1,394,098 | ||||||
Real Estate (0.9%) | ||||||||
GLP J-REIT | 700 | 1,253,817 | ||||||
2,647,915 | ||||||||
NETHERLANDS (2.5%) | ||||||||
Consumer Staples (1.3%) | ||||||||
Heineken NV | 14,600 | 1,700,195 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Dynamic Dividend Fund
Information Technology (1.2%) | ||||||||
ASML Holding NV | 2,100 | $ | 1,605,206 | |||||
3,305,401 | ||||||||
NORWAY (1.0%) | ||||||||
Communication Services (1.0%) | ||||||||
Telenor ASA | 72,700 | 1,262,228 | ||||||
SINGAPORE (1.2%) | ||||||||
Financials (1.2%) | ||||||||
Oversea-Chinese Banking Corp. Ltd. | 168,155 | 1,521,338 | ||||||
SOUTH KOREA (1.0%) | ||||||||
Materials (1.0%) | ||||||||
LG Chem Ltd. | 1,840 | 1,351,487 | ||||||
SPAIN (1.2%) | ||||||||
Industrials (1.2%) | ||||||||
Ferrovial SA | 53,626 | 1,591,360 | ||||||
SWITZERLAND (3.1%) | ||||||||
Consumer Staples (1.0%) | ||||||||
Nestle SA | 10,300 | 1,304,285 | ||||||
Financials (0.9%) | ||||||||
Zurich Insurance Group AG | 2,900 | 1,169,207 | ||||||
Health Care (1.2%) | ||||||||
Roche Holding AG | 4,000 | 1,545,248 | ||||||
4,018,740 | ||||||||
TAIWAN (1.2%) | ||||||||
Information Technology (1.2%) | ||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 13,700 | 1,597,968 | ||||||
UNITED KINGDOM (5.6%) | ||||||||
Communication Services (1.3%) | ||||||||
Vodafone Group PLC, ADR | 103,300 | 1,686,889 | ||||||
Consumer Staples (0.9%) | ||||||||
Unilever PLC | 19,600 | 1,129,741 | ||||||
Health Care (2.4%) | ||||||||
AstraZeneca PLC, ADR | 31,700 | 1,814,508 | ||||||
Dechra Pharmaceuticals PLC | 19,700 | 1,360,936 | ||||||
3,175,444 | ||||||||
Industrials (1.0%) | ||||||||
Melrose Industries PLC | 591,474 | 1,314,416 | ||||||
Utilities (0.0%) | ||||||||
Pennon Group PLC | — | 6 | ||||||
7,306,496 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Dynamic Dividend Fund
UNITED STATES (50.4%) | ||||||||
Communication Services (2.9%) | ||||||||
Alphabet, Inc., Class C(a) | 1,000 | $ | 2,704,420 | |||||
Cineworld Group PLC(a) | 485,000 | 427,815 | ||||||
Shenandoah Telecommunications Co. | 12,300 | 649,317 | ||||||
3,781,552 | ||||||||
Consumer Discretionary (7.8%) | ||||||||
Aptiv PLC(a) | 9,300 | 1,551,705 | ||||||
Genuine Parts Co. | 13,000 | 1,649,960 | ||||||
Las Vegas Sands Corp.(a) | 32,600 | 1,380,610 | ||||||
Lowe's Cos., Inc. | 10,000 | 1,926,900 | ||||||
Target Corp. | 8,800 | 2,297,240 | ||||||
TJX Cos., Inc. (The) | 20,100 | 1,383,081 | ||||||
10,189,496 | ||||||||
Consumer Staples (4.4%) | ||||||||
Coca-Cola Co. (The) | 24,900 | 1,420,047 | ||||||
Kraft Heinz Co. (The) | 31,000 | 1,192,570 | ||||||
Mondelez International, Inc., Class A | 25,600 | 1,619,456 | ||||||
PepsiCo, Inc. | 9,200 | 1,443,940 | ||||||
5,676,013 | ||||||||
Energy (1.1%) | ||||||||
Williams Cos., Inc. (The) | 57,900 | 1,450,395 | ||||||
Financials (6.9%) | ||||||||
Bank of America Corp. | 44,500 | 1,707,020 | ||||||
Blackstone Group, Inc. (The), Class A | 12,200 | 1,406,294 | ||||||
Goldman Sachs Group, Inc. (The) | 5,200 | 1,949,376 | ||||||
Huntington Bancshares, Inc. | 75,800 | 1,067,264 | ||||||
Intercontinental Exchange, Inc. | 11,600 | 1,390,028 | ||||||
JPMorgan Chase & Co. | 9,400 | 1,426,732 | ||||||
8,946,714 | ||||||||
Health Care (6.8%) | ||||||||
AbbVie, Inc. | 19,103 | 2,221,679 | ||||||
Bristol-Myers Squibb Co. | 22,200 | 1,506,714 | ||||||
Eli Lilly & Co. | 7,300 | 1,777,550 | ||||||
Medtronic PLC | 13,600 | 1,785,816 | ||||||
UnitedHealth Group, Inc. | 3,900 | 1,607,658 | ||||||
8,899,417 | ||||||||
Industrials (3.5%) | ||||||||
FedEx Corp. | 6,300 | 1,763,685 | ||||||
Lockheed Martin Corp. | 3,500 | 1,300,845 | ||||||
Norfolk Southern Corp. | 5,600 | 1,443,848 | ||||||
4,508,378 | ||||||||
Information Technology (12.0%) | ||||||||
Apple, Inc. | 29,400 | 4,288,284 | ||||||
Avast PLC(b) | 235,800 | 1,900,260 | ||||||
Broadcom, Inc. | 4,400 | 2,135,760 | ||||||
Cisco Systems, Inc. | 26,800 | 1,483,916 | ||||||
Fidelity National Information Services, Inc. | 9,700 | 1,445,785 | ||||||
Intel Corp. | 22,800 | 1,224,816 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen Dynamic Dividend Fund
Microsoft Corp. | 10,800 | $ | 3,077,028 | |||||
15,555,849 | ||||||||
Real Estate (2.4%) | ||||||||
American Tower Corp., REIT | 4,600 | 1,300,880 | ||||||
Digital Realty Trust, Inc. | 7,700 | 1,187,032 | ||||||
Gaming and Leisure Properties, Inc., REIT | 13,800 | 653,292 | ||||||
3,141,204 | ||||||||
Utilities (2.6%) | ||||||||
CMS Energy Corp. | 11,300 | 698,227 | ||||||
FirstEnergy Corp. | 31,100 | 1,191,752 | ||||||
NextEra Energy, Inc. | 19,500 | 1,519,050 | ||||||
3,409,029 | ||||||||
65,558,047 | ||||||||
Total Common Stocks | 126,301,127 | |||||||
PREFERRED STOCKS (1.8%) | ||||||||
SOUTH KOREA (1.8%) | ||||||||
Information Technology (1.8%) | ||||||||
Samsung Electronics Co. Ltd. | 36,800 | 2,310,152 | ||||||
Total Preferred Stocks | 2,310,152 | |||||||
SHORT-TERM INVESTMENT (1.4%) | ||||||||
UNITED STATES (1.4%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(c) | 1,787,561 | 1,787,561 | ||||||
Total Short-Term Investment | 1,787,561 | |||||||
Total Investments (Cost $94,559,146) —100.3% | 130,398,840 | |||||||
Liabilities in Excess of Other Assets—(0.3)% | (387,429 | ) | ||||||
Net Assets—100.0% | $ | 130,011,411 |
(a) | Non-income producing security. |
(b) | Denotes a security issued under Regulation S or Rule 144A. |
(c) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
ADR | American Depositary Receipt |
PLC | Public Limited Company |
REIT | Real Estate Investment Trust |
At July 31, 2021, the Fund's open forward foreign currency exchange contracts were as follows:
Sale Contracts Settlement Date | Counterparty | Amount Purchased | Amount Sold | Fair Value | Unrealized Depreciation | |||||||||||
United States Dollar/Euro | ||||||||||||||||
10/13/2021 | State Street Bank and Trust | USD | 3,073,545 | EUR | 2,600,000 | $ | 3,088,583 | $ | (15,038 | ) |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Fund
Shares or Principal Amount | Value | |||||||
COMMON STOCKS (87.2%) | ||||||||
ARGENTINA (1.2%) | ||||||||
Consumer Discretionary (1.2%) | ||||||||
MercadoLibre, Inc.(a) | 39,778 | $ | 62,399,749 | |||||
BRAZIL (4.4%) | ||||||||
Financials (0.5%) | ||||||||
B3 SA - Brasil Bolsa Balcao | 8,662,600 | 25,364,499 | ||||||
Industrials (1.3%) | ||||||||
Rumo SA(a) | 9,973,057 | 39,560,957 | ||||||
WEG SA | 4,341,526 | 29,767,368 | ||||||
69,328,325 | ||||||||
Materials (2.6%) | ||||||||
Vale SA, ADR | 6,711,583 | 141,077,475 | ||||||
235,770,299 | ||||||||
CHINA (30.5%) | ||||||||
Communication Services (3.8%) | ||||||||
Tencent Holdings Ltd. | 3,392,100 | 204,571,267 | ||||||
Consumer Discretionary (11.2%) | ||||||||
Alibaba Group Holding Ltd.(a) | 10,226,300 | 249,754,370 | ||||||
China Tourism Group Duty Free Corp. Ltd., A Shares (Stock Connect)(b) | 1,828,403 | 68,385,341 | ||||||
Li Ning Co. Ltd. | 3,637,000 | 38,411,495 | ||||||
Meituan, B Shares(a)(c) | 1,943,300 | 53,773,857 | ||||||
Midea Group Co. Ltd., A Shares (Stock Connect)(b) | 5,054,316 | 49,856,987 | ||||||
Prosus NV | 674,543 | 60,181,639 | ||||||
Shenzhou International Group Holdings Ltd. | 3,322,600 | 73,739,374 | ||||||
594,103,063 | ||||||||
Consumer Staples (0.6%) | ||||||||
Kweichow Moutai Co. Ltd., A Shares (Stock Connect)(b) | 121,415 | 31,623,681 | ||||||
Financials (2.7%) | ||||||||
China Merchants Bank Co. Ltd., H Shares | 13,651,500 | 103,854,497 | ||||||
Ping An Insurance Group Co. of China Ltd., H Shares | 4,530,500 | 39,645,680 | ||||||
143,500,177 | ||||||||
Health Care (2.8%) | ||||||||
Hangzhou Tigermed Consulting Co. Ltd., A Shares(b) | 1,234,495 | 30,237,109 | ||||||
Hangzhou Tigermed Consulting Co. Ltd., H Shares(c) | 200,700 | 3,897,685 | ||||||
Wuxi Biologics Cayman, Inc.(a)(c) | 7,381,500 | 112,746,876 | ||||||
146,881,670 | ||||||||
Industrials (3.5%) | ||||||||
China Conch Venture Holdings Ltd. | 7,463,500 | 27,210,860 | ||||||
NARI Technology Co. Ltd., A Shares (Stock Connect)(b) | 16,865,176 | 82,141,468 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Fund
Sungrow Power Supply Co. Ltd., A Shares (Stock Connect)(b) | 2,981,278 | $ | 77,835,621 | |||||
187,187,949 | ||||||||
Information Technology (2.6%) | ||||||||
GDS Holdings Ltd. Class A(a) | 2,884,700 | 21,388,713 | ||||||
LONGi Green Energy Technology Co. Ltd., A Shares(b) | 8,774,838 | 117,293,308 | ||||||
138,682,021 | ||||||||
Materials (0.9%) | ||||||||
Yunnan Energy New Material Co. Ltd., A Shares (Stock Connect)(b) | 1,261,275 | 48,670,421 | ||||||
Real Estate (1.2%) | ||||||||
China Resources Land Ltd. | 18,686,000 | 62,445,945 | ||||||
Utilities (1.2%) | ||||||||
China Resources Gas Group Ltd. | 10,320,000 | 63,610,663 | ||||||
1,621,276,857 | ||||||||
CYPRUS (0.5%) | ||||||||
Financials (0.5%) | ||||||||
TCS Group Holding PLC, GDR | 322,414 | 26,687,955 | ||||||
HONG KONG (4.0%) | ||||||||
Consumer Staples (0.9%) | ||||||||
Budweiser Brewing Co. APAC Ltd.(c) | 16,750,100 | 46,746,396 | ||||||
Financials (3.1%) | ||||||||
AIA Group Ltd. | 7,076,000 | 84,669,722 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 1,233,565 | 78,836,750 | ||||||
163,506,472 | ||||||||
210,252,868 | ||||||||
INDIA (10.9%) | ||||||||
Consumer Discretionary (0.0%) | ||||||||
Zomato Ltd.(a) | 650,222 | 1,174,795 | ||||||
Consumer Staples (1.9%) | ||||||||
Hindustan Unilever Ltd. | 1,471,531 | 46,354,820 | ||||||
ITC Ltd. | 18,918,245 | 52,188,411 | ||||||
98,543,231 | ||||||||
Financials (5.3%) | ||||||||
Housing Development Finance Corp. Ltd. | 4,216,682 | 138,891,179 | ||||||
Kotak Mahindra Bank Ltd.(a) | 2,690,777 | 60,060,000 | ||||||
SBI Life Insurance Co. Ltd.(c) | 5,582,446 | 83,530,173 | ||||||
282,481,352 | ||||||||
Information Technology (2.3%) | ||||||||
Tata Consultancy Services Ltd. | 2,822,297 | 120,334,371 | ||||||
Materials (1.4%) | ||||||||
UltraTech Cement Ltd. | 748,488 | 76,854,193 | ||||||
579,387,942 | ||||||||
INDONESIA (1.8%) | ||||||||
Financials (1.8%) | ||||||||
Bank Central Asia Tbk PT | 26,294,600 | 54,281,438 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Fund
Bank Rakyat Indonesia Persero Tbk PT | 158,554,800 | $ | 40,676,643 | |||||
94,958,081 | ||||||||
MACAO (1.1%) | ||||||||
Consumer Discretionary (1.1%) | ||||||||
Sands China Ltd.(a) | 17,262,000 | 58,795,272 | ||||||
MEXICO (4.2%) | ||||||||
Consumer Staples (1.4%) | ||||||||
Fomento Economico Mexicano SAB de CV, ADR | 822,096 | 71,826,528 | ||||||
Financials (1.4%) | ||||||||
Grupo Financiero Banorte SAB de CV, Class O | 11,847,619 | 76,646,097 | ||||||
Industrials (0.5%) | ||||||||
Grupo Aeroportuario del Sureste SAB de CV, Class B(a) | 1,574,556 | 28,489,725 | ||||||
Materials (0.9%) | ||||||||
Grupo Mexico SAB de CV, Class B | 9,880,769 | 45,258,575 | ||||||
222,220,925 | ||||||||
NETHERLANDS (2.2%) | ||||||||
Information Technology (2.2%) | ||||||||
ASM International NV | 87,540 | 31,068,821 | ||||||
ASML Holding NV | 114,596 | 87,595,321 | ||||||
118,664,142 | ||||||||
PHILIPPINES (0.4%) | ||||||||
Financials (0.4%) | ||||||||
Bank of the Philippine Islands | 13,044,794 | 21,008,421 | ||||||
POLAND (0.8%) | ||||||||
Consumer Discretionary (0.8%) | ||||||||
Allegro.eu SA(a)(c) | 2,562,219 | 43,961,759 | ||||||
RUSSIA (4.7%) | ||||||||
Communication Services (0.5%) | ||||||||
Yandex N.V., Class A(a) | 410,630 | 27,894,096 | ||||||
Energy (3.1%) | ||||||||
LUKOIL PJSC, ADR | 770,958 | 66,217,583 | ||||||
Novatek PJSC | 4,489,295 | 100,133,251 | ||||||
166,350,834 | ||||||||
Financials (1.1%) | ||||||||
Sberbank of Russia PJSC | 13,313,252 | 55,528,876 | ||||||
249,773,806 | ||||||||
SOUTH AFRICA (3.1%) | ||||||||
Consumer Discretionary (1.7%) | ||||||||
Naspers Ltd., N Shares | 478,229 | 92,288,733 | ||||||
Materials (1.4%) | ||||||||
Anglo American Platinum Ltd. | 558,389 | 73,076,784 | ||||||
165,365,517 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Fund
SOUTH KOREA (4.4%) | ||||||||
Communication Services (0.5%) | ||||||||
Kakao Corp. | 210,570 | $ | 26,956,102 | |||||
Financials (0.0%) | ||||||||
KakaoBank Corp.(a) | 43,115 | 1,461,843 | ||||||
Information Technology (1.6%) | ||||||||
Samsung SDI Co. Ltd. | 133,408 | 86,120,029 | ||||||
Materials (2.3%) | ||||||||
LG Chem Ltd. | 165,632 | 121,657,305 | ||||||
236,195,279 | ||||||||
TAIWAN (11.6%) | ||||||||
Communication Services (0.8%) | ||||||||
Sea Ltd., ADR(a) | 145,728 | 40,244,244 | ||||||
Information Technology (10.8%) | ||||||||
Delta Electronics, Inc. | 5,103,000 | 52,581,013 | ||||||
Hon Hai Precision Industry Co. Ltd. | 14,107,000 | 55,746,914 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 22,453,017 | 469,256,735 | ||||||
577,584,662 | ||||||||
617,828,906 | ||||||||
UNITED KINGDOM (1.4%) | ||||||||
Materials (1.4%) | ||||||||
Mondi PLC | 2,764,362 | 76,945,416 | ||||||
Total Common Stocks | 4,641,493,194 | |||||||
PREFERRED STOCKS (10.5%) | ||||||||
BRAZIL (1.7%) | ||||||||
Financials (1.7%) | ||||||||
Banco Bradesco SA, ADR, Preferred Shares, 1.94% | 18,572,657 | 86,734,308 | ||||||
SOUTH KOREA (8.8%) | ||||||||
Information Technology (8.8%) | ||||||||
Samsung Electronics Co. Ltd. | 7,473,964 | 469,184,522 | ||||||
Total Preferred Stocks | 555,918,830 | |||||||
SHORT-TERM INVESTMENTS (3.0%) | ||||||||
UNITED STATES (3.0%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(d) | 161,649,130 | 161,649,130 | ||||||
Total Short-Term Investments | 161,649,130 | |||||||
Total Investments (Cost $3,958,276,462) —100.7% | 5,359,061,154 | |||||||
Liabilities in Excess of Other Assets—(0.7)% | (36,352,348 | ) | ||||||
Net Assets—100.0% | $ | 5,322,708,806 |
(a) | Non-income producing security. |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Fund
(b) | China A Shares. These shares are issued in local currency, traded in the local stock markets and are held through either a Qualified Foreign Institutional Investor (QFII) license or the Shanghai or Shenzhen Hong-Kong Stock Connect program. |
(c) | Denotes a security issued under Regulation S or Rule 144A. |
(d) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
PLC | Public Limited Company |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Sustainable Leaders Fund
Shares or Principal Amount | Value | |||||||
COMMON STOCKS (87.9%) | ||||||||
ARGENTINA (1.1%) | ||||||||
Consumer Discretionary (1.1%) | ||||||||
MercadoLibre, Inc.(a) | 1,673 | $ | 2,624,435 | |||||
BRAZIL (3.9%) | ||||||||
Health Care (0.5%) | ||||||||
Notre Dame Intermedica Participacoes SA | 78,800 | 1,210,387 | ||||||
Industrials (2.3%) | ||||||||
Rumo SA(a) | 747,900 | 2,966,757 | ||||||
WEG SA | 335,080 | 2,297,453 | ||||||
5,264,210 | ||||||||
Real Estate (1.1%) | ||||||||
Multiplan Empreendimentos Imobiliarios SA | 571,932 | 2,564,127 | ||||||
9,038,724 | ||||||||
CHILE (0.6%) | ||||||||
Financials (0.6%) | ||||||||
Banco Santander Chile, ADR | 65,300 | 1,275,962 | ||||||
CHINA (28.9%) | ||||||||
Communication Services (3.9%) | ||||||||
Tencent Holdings Ltd. | 149,400 | 9,010,037 | ||||||
Consumer Discretionary (9.2%) | ||||||||
Alibaba Group Holding Ltd.(a) | 465,700 | 11,373,675 | ||||||
Meituan, B Shares(a)(b) | 75,100 | 2,078,123 | ||||||
Midea Group Co. Ltd., A Shares (Stock Connect)(c) | 255,929 | 2,524,545 | ||||||
Prosus NV | 25,319 | 2,258,920 | ||||||
Zhongsheng Group Holdings Ltd. | 313,000 | 2,884,683 | ||||||
21,119,946 | ||||||||
Financials (2.7%) | ||||||||
China Merchants Bank Co. Ltd., H Shares | 525,500 | 3,997,769 | ||||||
Ping An Insurance Group Co. of China Ltd., H Shares | 236,000 | 2,065,198 | ||||||
6,062,967 | ||||||||
Health Care (3.0%) | ||||||||
Hangzhou Tigermed Consulting Co. Ltd., H Shares(b) | 116,500 | 2,262,483 | ||||||
Wuxi Biologics Cayman, Inc.(a)(b) | 304,000 | 4,643,372 | ||||||
6,905,855 | ||||||||
Industrials (5.1%) | ||||||||
Centre Testing International Group Co. Ltd., A Shares (Stock Connect)(c) | 494,580 | 2,083,940 | ||||||
China Conch Venture Holdings Ltd. | 826,500 | 3,013,302 | ||||||
Sungrow Power Supply Co. Ltd., A Shares (Stock Connect)(c) | 150,642 | 3,932,982 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., H Shares | 1,371,800 | 2,577,669 | ||||||
11,607,893 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Sustainable Leaders Fund
Information Technology (4.0%) | ||||||||
GDS Holdings Ltd. Class A(a) | 48,000 | $ | 355,898 | |||||
GDS Holdings Ltd., ADR(a) | 25,500 | 1,503,480 | ||||||
Glodon Co. Ltd., A Shares(c) | 219,840 | 2,151,972 | ||||||
LONGi Green Energy Technology Co. Ltd., A Shares(c) | 375,205 | 5,015,367 | ||||||
9,026,717 | ||||||||
Real Estate (1.0%) | ||||||||
China Vanke Co. Ltd., H Shares | 841,500 | 2,192,153 | ||||||
65,925,568 | ||||||||
HONG KONG (3.4%) | ||||||||
Financials (3.4%) | ||||||||
AIA Group Ltd. | 288,500 | 3,452,122 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 66,300 | 4,237,212 | ||||||
7,689,334 | ||||||||
INDIA (10.4%) | ||||||||
Consumer Discretionary (0.0%) | ||||||||
Zomato Ltd.(a) | 27,819 | 50,262 | ||||||
Consumer Staples (1.0%) | ||||||||
Hindustan Unilever Ltd. | 69,000 | 2,173,575 | ||||||
Financials (3.8%) | ||||||||
Housing Development Finance Corp. Ltd. | 183,651 | 6,049,189 | ||||||
Kotak Mahindra Bank Ltd.(a) | 122,358 | 2,731,115 | ||||||
8,780,304 | ||||||||
Health Care (1.0%) | ||||||||
Syngene International Ltd.(a)(b) | 257,300 | 2,205,407 | ||||||
Information Technology (2.0%) | ||||||||
Tata Consultancy Services Ltd. | 109,300 | 4,660,228 | ||||||
Materials (1.0%) | ||||||||
Asian Paints Ltd. | 57,900 | 2,301,759 | ||||||
Utilities (1.6%) | ||||||||
Power Grid Corp. of India Ltd. | 1,158,200 | 2,666,395 | ||||||
Power Grid Corp. of India Ltd.(a) | 386,067 | 887,930 | ||||||
3,554,325 | ||||||||
23,725,860 | ||||||||
INDONESIA (1.8%) | ||||||||
Consumer Discretionary (0.7%) | ||||||||
Ace Hardware Indonesia Tbk PT | 16,492,300 | 1,506,565 | ||||||
Financials (1.1%) | ||||||||
Bank Central Asia Tbk PT | 1,246,600 | 2,573,427 | ||||||
4,079,992 | ||||||||
KAZAKHSTAN (1.5%) | ||||||||
Financials (1.5%) | ||||||||
Kaspi.KZ JSC., GDR(b)(d) | 30,177 | 3,416,036 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Sustainable Leaders Fund
MEXICO (4.6%) | ||||||||
Consumer Staples (1.6%) | ||||||||
Arca Continental SAB de CV | 587,300 | $ | 3,584,356 | |||||
Financials (2.2%) | ||||||||
Grupo Financiero Banorte SAB de CV, Class O | 784,966 | 5,078,200 | ||||||
Industrials (0.8%) | ||||||||
Grupo Aeroportuario del Centro Norte SAB de CV, ADR(a) | 39,500 | 1,932,340 | ||||||
10,594,896 | ||||||||
NETHERLANDS (2.1%) | ||||||||
Information Technology (2.1%) | ||||||||
ASM International NV | 5,156 | 1,829,916 | ||||||
ASML Holding NV | 4,027 | 3,078,173 | ||||||
4,908,089 | ||||||||
PHILIPPINES (1.1%) | ||||||||
Real Estate (1.1%) | ||||||||
Ayala Land, Inc. | 3,750,500 | 2,453,563 | ||||||
POLAND (1.7%) | ||||||||
Consumer Discretionary (0.8%) | ||||||||
Allegro.eu SA(a)(b) | 108,570 | 1,862,810 | ||||||
Industrials (0.9%) | ||||||||
InPost SA(a) | 100,445 | 1,969,527 | ||||||
3,832,337 | ||||||||
RUSSIA (4.1%) | ||||||||
Consumer Staples (1.2%) | ||||||||
X5 Retail Group NV, GDR | 76,300 | 2,470,594 | ||||||
X5 Retail Group NV, GDR | 7,580 | 245,394 | ||||||
2,715,988 | ||||||||
Financials (2.9%) | ||||||||
Sberbank of Russia PJSC, ADR | 396,935 | 6,601,683 | ||||||
9,317,671 | ||||||||
SAUDI ARABIA (0.9%) | ||||||||
Consumer Discretionary (0.9%) | ||||||||
Delivery Hero SE(a)(b) | 14,200 | 2,122,794 | ||||||
SOUTH AFRICA (2.0%) | ||||||||
Consumer Discretionary (2.0%) | ||||||||
Naspers Ltd., N Shares | 24,074 | 4,645,805 | ||||||
SOUTH KOREA (4.2%) | ||||||||
Financials (0.0%) | ||||||||
KakaoBank Corp.(a) | 1,837 | 62,285 | ||||||
Information Technology (2.0%) | ||||||||
Samsung SDI Co. Ltd. | 7,125 | 4,599,463 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Sustainable Leaders Fund
Materials (2.2%) | ||||||||
LG Chem Ltd. | 6,763 | $ | 4,967,448 | |||||
9,629,196 | ||||||||
TAIWAN (12.9%) | ||||||||
Communication Services (0.9%) | ||||||||
Sea Ltd., ADR(a) | 7,070 | 1,952,451 | ||||||
Information Technology (12.0%) | ||||||||
Chroma ATE, Inc. | 459,000 | 3,233,349 | ||||||
Hon Hai Precision Industry Co. Ltd. | 889,000 | 3,513,079 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 991,000 | 20,711,401 | ||||||
27,457,829 | ||||||||
29,410,280 | ||||||||
TURKEY (1.0%) | ||||||||
Information Technology (1.0%) | ||||||||
Logo Yazilim Sanayi Ve Ticaret AS | 518,800 | 2,227,651 | ||||||
UNITED KINGDOM (1.7%) | ||||||||
Materials (1.7%) | ||||||||
Mondi PLC | 136,695 | 3,804,876 | ||||||
Total Common Stocks | 200,723,069 | |||||||
PREFERRED STOCKS (10.4%) | ||||||||
BRAZIL (1.6%) | ||||||||
Financials (1.6%) | ||||||||
Banco Bradesco SA, ADR, Preferred Shares, 1.94% | 764,401 | 3,569,753 | ||||||
SOUTH KOREA (8.8%) | ||||||||
Information Technology (8.8%) | ||||||||
Samsung Electronics Co. Ltd. | 319,780 | 20,074,465 | ||||||
Total Preferred Stocks | 23,644,218 | |||||||
SHORT-TERM INVESTMENT—1.7% | ||||||||
UNITED STATES (1.7%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(e) | 3,924,552 | 3,924,552 | ||||||
Total Short-Term Investment | 3,924,552 | |||||||
Total Investments (Cost $211,664,962) —100.0% | 228,291,839 | |||||||
Other Assets in Excess of Liabilities—0.0% | 106,137 | |||||||
Net Assets—100.0% | $ | 228,397,976 |
(a) | Non-income producing security. |
(b) | Denotes a security issued under Regulation S or Rule 144A. |
(c) | China A Shares. These shares are issued in local currency, traded in the local stock markets and are held through either a Qualified Foreign Institutional Investor (QFII) license or the Shanghai or Shenzhen Hong-Kong Stock Connect program. |
(d) | Illiquid security. |
(e) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Sustainable Leaders Fund
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
PLC | Public Limited Company |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen Global Equity Fund
Shares or Principal Amount | Value | |||||||
COMMON STOCKS (100.3%) | ||||||||
AUSTRALIA (2.6%) | ||||||||
Health Care (1.5%) | ||||||||
CSL Ltd. | 2,100 | $ | 447,070 | |||||
Real Estate (1.1%) | ||||||||
Goodman Group, REIT | 21,200 | 352,602 | ||||||
799,672 | ||||||||
BRAZIL (1.0%) | ||||||||
Consumer Staples (1.0%) | ||||||||
Raia Drogasil SA | 66,500 | 322,270 | ||||||
CHINA (2.6%) | ||||||||
Communication Services (2.6%) | ||||||||
Tencent Holdings Ltd. | 13,400 | 808,129 | ||||||
DENMARK (3.6%) | ||||||||
Health Care (3.6%) | ||||||||
Genmab AS(a) | 1,400 | 632,770 | ||||||
Novo Nordisk AS, Class B | 5,400 | 499,885 | ||||||
1,132,655 | ||||||||
FRANCE (5.4%) | ||||||||
Consumer Discretionary (2.8%) | ||||||||
LVMH Moet Hennessy Louis Vuitton SE | 1,100 | 880,734 | ||||||
Industrials (2.6%) | ||||||||
Schneider Electric SE | 4,790 | 802,269 | ||||||
1,683,003 | ||||||||
HONG KONG (3.3%) | ||||||||
Financials (3.3%) | ||||||||
AIA Group Ltd. | 85,300 | 1,020,679 | ||||||
INDIA (1.9%) | ||||||||
Financials (1.9%) | ||||||||
Housing Development Finance Corp. Ltd. | 17,700 | 583,012 | ||||||
JAPAN (4.6%) | ||||||||
Information Technology (3.2%) | ||||||||
Keyence Corp. | 1,800 | 1,002,604 | ||||||
Materials (1.4%) | ||||||||
Shin-Etsu Chemical Co. Ltd. | 2,600 | 424,136 | ||||||
1,426,740 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Global Equity Fund
NETHERLANDS (5.5%) | ||||||||
Consumer Staples (2.6%) | ||||||||
Heineken NV | 6,900 | $ | 803,517 | |||||
Information Technology (2.9%) | ||||||||
ASML Holding NV | 1,200 | 917,260 | ||||||
1,720,777 | ||||||||
SINGAPORE (1.9%) | ||||||||
Financials (1.9%) | ||||||||
Oversea-Chinese Banking Corp. Ltd. | 65,117 | 589,129 | ||||||
SWEDEN (2.0%) | ||||||||
Industrials (2.0%) | ||||||||
Atlas Copco AB, A Shares | 9,400 | 636,615 | ||||||
SWITZERLAND (6.2%) | ||||||||
Consumer Staples (3.2%) | ||||||||
Nestle SA | 7,700 | 975,048 | ||||||
Financials (1.5%) | ||||||||
Zurich Insurance Group AG | 1,150 | 463,651 | ||||||
Health Care (1.5%) | ||||||||
Roche Holding AG | 1,220 | 471,301 | ||||||
1,910,000 | ||||||||
TAIWAN (2.9%) | ||||||||
Information Technology (2.9%) | ||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 7,600 | 886,464 | ||||||
UNITED KINGDOM (12.1%) | ||||||||
Consumer Staples (3.4%) | ||||||||
Diageo PLC | 21,100 | 1,046,270 | ||||||
Health Care (6.7%) | ||||||||
Abcam PLC(a) | 24,800 | 468,130 | ||||||
AstraZeneca PLC | 7,400 | 850,333 | ||||||
Dechra Pharmaceuticals PLC | 6,100 | 421,407 | ||||||
Genus PLC | 4,300 | 329,490 | ||||||
2,069,360 | ||||||||
Materials (2.0%) | ||||||||
Croda International PLC | 5,340 | 625,107 | ||||||
3,740,737 | ||||||||
UNITED STATES (44.7%) | ||||||||
Communication Services (3.1%) | ||||||||
Alphabet, Inc., Class A(a) | 360 | 970,031 | ||||||
Consumer Discretionary (9.4%) | ||||||||
Amazon.com, Inc.(a) | 270 | 898,449 | ||||||
Las Vegas Sands Corp.(a) | 7,200 | 304,920 | ||||||
NIKE, Inc., Class B | 5,700 | 954,807 | ||||||
TJX Cos., Inc. (The) | 10,800 | 743,148 | ||||||
2,901,324 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen Global Equity Fund
Consumer Staples (9.8%) | ||||||||
Costco Wholesale Corp. | 1,690 | $ | 726,227 | |||||
Estee Lauder Cos., Inc. (The), Class A | 2,600 | 867,958 | ||||||
PepsiCo, Inc. | 5,050 | 792,597 | ||||||
Procter & Gamble Co. (The) | 4,600 | 654,258 | ||||||
3,041,040 | ||||||||
Financials (5.0%) | ||||||||
CME Group, Inc. | 2,800 | 593,964 | ||||||
Intercontinental Exchange, Inc. | 8,000 | 958,640 | ||||||
1,552,604 | ||||||||
Health Care (4.4%) | ||||||||
AbbVie, Inc. | 3,700 | 430,310 | ||||||
Boston Scientific Corp.(a) | 20,200 | 921,120 | ||||||
1,351,430 | ||||||||
Information Technology (11.4%) | ||||||||
Autodesk, Inc.(a) | 2,200 | 706,486 | ||||||
Fidelity National Information Services, Inc. | 3,100 | 462,055 | ||||||
Microsoft Corp. | 4,500 | 1,282,095 | ||||||
Visa, Inc., Class A | 4,400 | 1,084,116 | ||||||
3,534,752 | ||||||||
Materials (1.6%) | ||||||||
Linde PLC | 1,600 | 491,824 | ||||||
13,843,005 | ||||||||
Total Common Stocks | 31,102,887 | |||||||
SHORT-TERM INVESTMENT—1.0% | ||||||||
UNITED STATES (1.0%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(b) | 310,964 | 310,964 | ||||||
Total Short-Term Investment | 310,964 | |||||||
Total Investments (Cost $20,762,483) —101.3% | 31,413,851 | |||||||
Liabilities in Excess of Other Assets—(1.3)% | (417,249 | ) | ||||||
Net Assets—100.0% | $ | 30,996,602 |
(a) | Non-income producing security. |
(b) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
ADR | American Depositary Receipt |
PLC | Public Limited Company |
REIT | Real Estate Investment Trust |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen Global Infrastructure Fund
Shares or Principal Amount | Value | |||||||
COMMON STOCKS (96.3%) | ||||||||
ARGENTINA (1.9%) | ||||||||
Industrials (1.0%) | ||||||||
Corp. America Airports SA(a)(b) | 102,600 | $ | 570,456 | |||||
Materials (0.9%) | ||||||||
Loma Negra Cia Industrial Argentina SA, ADR | 65,300 | 514,564 | ||||||
1,085,020 | ||||||||
BRAZIL (6.2%) | ||||||||
Communication Services (1.0%) | ||||||||
Telefonica Brasil SA, ADR | 71,000 | 566,580 | ||||||
Industrials (4.1%) | ||||||||
CCR SA | 622,900 | 1,554,784 | ||||||
Rumo SA(a) | 210,100 | 833,421 | ||||||
2,388,205 | ||||||||
Utilities (1.1%) | ||||||||
Omega Geracao SA(a) | 95,900 | 665,081 | ||||||
3,619,866 | ||||||||
CANADA (4.2%) | ||||||||
Energy (2.6%) | ||||||||
Enbridge, Inc. | 39,000 | 1,537,368 | ||||||
Industrials (1.6%) | ||||||||
Canadian Pacific Railway Ltd. | 12,300 | 914,136 | ||||||
2,451,504 | ||||||||
CHINA (3.4%) | ||||||||
Industrials (2.7%) | ||||||||
China Everbright Environment Group Ltd. | 800,333 | 434,060 | ||||||
COSCO SHIPPING Ports Ltd. | 881,775 | 629,284 | ||||||
Zhejiang Expressway Co. Ltd., Class H | 626,100 | 528,521 | ||||||
1,591,865 | ||||||||
Utilities (0.7%) | ||||||||
Beijing Enterprises Water Group Ltd. | 1,154,000 | 423,606 | ||||||
2,015,471 | ||||||||
FRANCE (8.4%) | ||||||||
Industrials (5.3%) | ||||||||
Eiffage SA | 9,400 | 958,280 | ||||||
Getlink SE | 47,800 | 765,688 | ||||||
Vinci SA | 13,200 | 1,397,542 | ||||||
3,121,510 | ||||||||
Utilities (3.1%) | ||||||||
Engie SA | 57,200 | 762,780 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Global Infrastructure Fund
Veolia Environnement SA | 32,100 | $ | 1,052,797 | |||||
1,815,577 | ||||||||
4,937,087 | ||||||||
GERMANY (4.8%) | ||||||||
Communication Services (1.3%) | ||||||||
Vantage Towers AG | 21,845 | 763,674 | ||||||
Industrials (1.2%) | ||||||||
Fraport AG Frankfurt Airport Services Worldwide(a) | 10,900 | 716,934 | ||||||
Utilities (2.3%) | ||||||||
RWE AG | 38,100 | 1,354,671 | ||||||
2,835,279 | ||||||||
INDONESIA (2.4%) | ||||||||
Communication Services (2.4%) | ||||||||
Sarana Menara Nusantara Tbk PT | 8,320,100 | 842,807 | ||||||
Tower Bersama Infrastructure Tbk PT | 2,660,200 | 590,868 | ||||||
1,433,675 | ||||||||
ITALY (6.0%) | ||||||||
Communication Services (1.2%) | ||||||||
Infrastrutture Wireless Italiane SpA(c) | 63,300 | 715,048 | ||||||
Industrials (1.4%) | ||||||||
Atlantia SpA(a) | 44,500 | 807,162 | ||||||
Materials (1.2%) | ||||||||
Buzzi Unicem SpA | 27,100 | 716,336 | ||||||
Utilities (2.2%) | ||||||||
Enel SpA | 136,500 | 1,257,920 | ||||||
3,496,466 | ||||||||
JAPAN (0.7%) | ||||||||
Industrials (0.7%) | ||||||||
East Japan Railway Co. | 6,100 | 406,396 | ||||||
LUXEMBOURG (1.2%) | ||||||||
Communication Services (1.2%) | ||||||||
SES SA, ADR | 92,700 | 714,659 | ||||||
MALAYSIA (1.3%) | ||||||||
Industrials (1.3%) | ||||||||
Malaysia Airports Holdings Bhd(a) | 550,100 | 753,733 | ||||||
MEXICO (1.7%) | ||||||||
Industrials (1.7%) | ||||||||
Promotora y Operadora de Infraestructura SAB de CV | 129,400 | 977,281 | ||||||
NETHERLANDS (1.0%) | ||||||||
Communication Services (1.0%) | ||||||||
Koninklijke KPN NV | 182,900 | 600,163 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Global Infrastructure Fund
NORWAY (1.2%) | ||||||||
Communication Services (1.2%) | ||||||||
Telenor ASA | 39,100 | $ | 678,860 | |||||
PHILIPPINES (2.0%) | ||||||||
Industrials (2.0%) | ||||||||
International Container Terminal Services, Inc. | 370,000 | 1,151,045 | ||||||
PORTUGAL (2.4%) | ||||||||
Utilities (2.4%) | ||||||||
EDP Renovaveis SA | 60,900 | 1,430,403 | ||||||
SPAIN (7.8%) | ||||||||
Communication Services (3.3%) | ||||||||
Cellnex Telecom SA(c) | 30,000 | 1,956,498 | ||||||
Industrials (4.5%) | ||||||||
Aena SME SA(a)(c) | 6,100 | 971,405 | ||||||
Ferrovial SA | 56,146 | 1,666,142 | ||||||
2,637,547 | ||||||||
4,594,045 | ||||||||
UNITED KINGDOM (3.3%) | ||||||||
Communication Services (1.4%) | ||||||||
Vodafone Group PLC | 502,900 | 808,639 | ||||||
Utilities (1.9%) | ||||||||
National Grid PLC, ADR | 17,700 | 1,138,464 | ||||||
Pennon Group PLC | 1 | 12 | ||||||
1,138,476 | ||||||||
1,947,115 | ||||||||
UNITED STATES (36.4%) | ||||||||
Communication Services (3.0%) | ||||||||
DISH Network Corp., Class A(a) | 15,200 | 636,728 | ||||||
Shenandoah Telecommunications Co. | 10,900 | 575,411 | ||||||
T-Mobile US, Inc.(a) | 3,900 | 561,678 | ||||||
1,773,817 | ||||||||
Consumer Discretionary (0.8%) | ||||||||
TravelCenters of America, Inc.(a) | 16,100 | 465,612 | ||||||
Energy (4.9%) | ||||||||
Kinder Morgan, Inc. | 82,600 | 1,435,588 | ||||||
Williams Cos., Inc. (The) | 56,100 | 1,405,305 | ||||||
2,840,893 | ||||||||
Industrials (7.6%) | ||||||||
Dycom Industries, Inc.(a) | 7,600 | 527,440 | ||||||
Kansas City Southern | 4,400 | 1,178,320 | ||||||
Norfolk Southern Corp. | 4,200 | 1,082,886 | ||||||
Union Pacific Corp. | 4,400 | 962,544 | ||||||
Waste Connections, Inc. | 5,700 | 722,133 | ||||||
4,473,323 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen Global Infrastructure Fund
Real Estate (5.8%) | ||||||||
American Tower Corp., REIT | 5,100 | $ | 1,442,280 | |||||
CoreCivic, Inc., REIT(a) | 32,000 | 328,960 | ||||||
Crown Castle International Corp., REIT | 7,900 | 1,525,411 | ||||||
GEO Group, Inc. (The), REIT | 13,600 | 94,112 | ||||||
3,390,763 | ||||||||
Utilities (14.3%) | ||||||||
American Electric Power Co., Inc.(d) | 7,900 | 696,148 | ||||||
Atlantica Sustainable Infrastructure PLC | 25,400 | 1,009,904 | ||||||
Clearway Energy, Inc., Class C | 24,500 | 702,660 | ||||||
CMS Energy Corp. | 19,100 | 1,180,189 | ||||||
Evergy, Inc. | 18,100 | 1,180,482 | ||||||
FirstEnergy Corp. | 26,400 | 1,011,648 | ||||||
NextEra Energy, Inc. | 12,800 | 997,120 | ||||||
Sempra Energy(a) | 4,879 | 643,301 | ||||||
Vistra Corp. | 48,800 | 934,520 | ||||||
8,355,972 | ||||||||
21,300,380 | ||||||||
Total Common Stocks | 56,428,448 | |||||||
SHORT-TERM INVESTMENT—5.0% | ||||||||
UNITED STATES (5.0%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(e) | 2,918,825 | 2,918,825 | ||||||
Total Short-Term Investment | 2,918,825 | |||||||
Total Investments (Cost $48,388,207) —101.3% | 59,347,273 | |||||||
Liabilities in Excess of Other Assets—(1.3)% | (777,249 | ) | ||||||
Net Assets—100.0% | $ | 58,570,024 |
(a) | Non-income producing security. |
(b) | All or a portion of the securities are on loan. The total value of all securities on loan is $467,604. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers. |
(c) | Denotes a security issued under Regulation S or Rule 144A. |
(d) | All or a portion of the security has been designated as collateral for unrealized depreciation on forward foreign currency contracts. |
(e) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
ADR | American Depositary Receipt |
PLC | Public Limited Company |
REIT | Real Estate Investment Trust |
At July 31, 2021, the Fund's open forward foreign currency exchange contracts were as follows:
Sale Contracts Settlement Date | Counterparty | Amount Purchased | Amount Sold | Fair Value | Unrealized Appreciation | |||||||||||||||
United States Dollar/Hong Kong Dollar | ||||||||||||||||||||
10/13/2021 | Royal Bank Of Canada (UK) | USD | 1,802,852 | HKD | 14,000,000 | $ | 1,801,815 | $ | 1,037 |
See accompanying Notes to Statements of Investments.
Statement of Investments |
July 31, 2021 (Unaudited) |
Aberdeen International Real Estate Equity Fund |
Shares or Principal Amount | Value | |||||||
COMMON STOCKS (94.9%) | ||||||||
AUSTRALIA (5.6%) | ||||||||
Real Estate (5.6%) | ||||||||
Charter Hall Group | 24,067 | $ | 287,597 | |||||
Dexus, REIT | 54,292 | 410,124 | ||||||
Lendlease Corp., Ltd. | 15,856 | 142,320 | ||||||
Mirvac Group, REIT | 193,131 | 405,363 | ||||||
1,245,404 | ||||||||
BRAZIL (0.4%) | ||||||||
Consumer Discretionary (0.4%) | ||||||||
Cyrela Brazil Realty SA Empreendimentos e Participacoes | 25,048 | 100,274 | ||||||
CANADA (3.4%) | ||||||||
Real Estate (3.4%) | ||||||||
Allied Properties Real Estate Investment Trust | 9,578 | 350,922 | ||||||
Canadian Apartment Properties, REIT | 8,056 | 402,606 | ||||||
753,528 | ||||||||
CHINA (4.0%) | ||||||||
Real Estate (4.0%) | ||||||||
China Resources Land Ltd. | 67,971 | 227,149 | ||||||
Logan Group Co., Ltd. | 289,273 | 308,246 | ||||||
Longfor Group Holdings Ltd.(a) | 18,068 | 83,984 | ||||||
Sunac China Holdings Ltd.(b) | 103,014 | 267,296 | ||||||
886,675 | ||||||||
GERMANY (14.9%) | ||||||||
Real Estate (14.9%) | ||||||||
alstria office REIT-AG | 14,527 | 307,351 | ||||||
Instone Real Estate Group AG(a) | 19,441 | 601,915 | ||||||
LEG Immobilien SE | 3,500 | 553,163 | ||||||
TAG Immobilien AG | 11,839 | 392,633 | ||||||
Vonovia SE | 21,791 | 1,450,821 | ||||||
3,305,883 | ||||||||
HONG KONG (11.7%) | ||||||||
Real Estate (11.7%) | ||||||||
ESR Cayman Ltd.(a)(b)(c) | 84,349 | 296,471 | ||||||
Link REIT | 60,461 | 577,786 | ||||||
Shimao Group Holdings Ltd. | 161,704 | 319,187 | ||||||
Sino Land Co. Ltd. | 298,000 | 456,646 | ||||||
Sun Hung Kai Properties Ltd. | 66,311 | 948,603 | ||||||
2,598,693 | ||||||||
JAPAN (21.1%) | ||||||||
Real Estate (21.1%) | ||||||||
Canadian Solar Infrastructure Fund, Inc., UNIT | 137 | 158,045 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued) |
July 31, 2021 (Unaudited) |
Aberdeen International Real Estate Equity Fund |
CRE Logistics REIT, Inc., REIT | 207 | $ | 392,286 | |||||
Daiwa Office Investment Corp., REIT | 43 | 310,246 | ||||||
Japan Excellent, Inc. | 233 | 324,300 | ||||||
Kenedix Retail REIT Corp. | 90 | 249,796 | ||||||
LaSalle Logiport REIT | 185 | 338,955 | ||||||
Mirai Corp., REIT | 726 | 373,491 | ||||||
Mitsui Fudosan Co. Ltd., REIT | 44,850 | 1,048,918 | ||||||
Nippon Building Fund, Inc., REIT | 103 | 665,653 | ||||||
Sankei Real Estate, Inc., REIT | 255 | 306,610 | ||||||
Tokyu Fudosan Holdings Corp. | 92,600 | 522,759 | ||||||
4,691,059 | ||||||||
MEXICO (2.2%) | ||||||||
Real Estate (2.2%) | ||||||||
Corp Inmobiliaria Vesta SAB de CV, REIT | 111,276 | 218,513 | ||||||
Prologis Property Mexico SA de CV, REIT | 124,330 | 273,378 | ||||||
491,891 | ||||||||
NETHERLANDS (0.8%) | ||||||||
Real Estate (0.8%) | ||||||||
Unibail-Rodamco-Westfield(b) | 2,214 | 184,284 | ||||||
PHILIPPINES (1.1%) | ||||||||
Real Estate (1.1%) | ||||||||
Ayala Land, Inc. | 279,392 | 182,777 | ||||||
Megaworld Corp. | 1,019,705 | 56,635 | ||||||
239,412 | ||||||||
SINGAPORE (6.8%) | ||||||||
Real Estate (6.8%) | ||||||||
Ascendas India Trust, UNIT | 226,500 | 242,437 | ||||||
CapitaLand Integrated Commercial Trust, REIT | 270,600 | 428,786 | ||||||
CapitaLand Ltd. | 173,600 | 515,760 | ||||||
Lendlease Global Commercial REIT | 499,800 | 322,633 | ||||||
1,509,616 | ||||||||
SOUTH KOREA (0.7%) | ||||||||
Real Estate (0.7%) | ||||||||
ESR Kendall Square REIT Co. Ltd. | 27,246 | 161,519 | ||||||
SPAIN (2.5%) | ||||||||
Real Estate (2.5%) | ||||||||
Inmobiliaria Colonial Socimi SA, REIT | 38,748 | 413,224 | ||||||
Merlin Properties Socimi SA | 13,161 | 147,614 | ||||||
560,838 | ||||||||
SWEDEN (3.1%) | ||||||||
Real Estate (3.1%) | ||||||||
Catena AB | 2,557 | 153,567 | ||||||
Fabege AB | 14,578 | 252,450 | ||||||
Kungsleden AB | 21,952 | 296,318 | ||||||
702,335 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded) |
July 31, 2021 (Unaudited) |
Aberdeen International Real Estate Equity Fund |
UNITED KINGDOM (6.2%) | ||||||||
Real Estate (6.2%) | ||||||||
Land Securities Group PLC | 24,390 | $ | 240,056 | |||||
LondonMetric Property PLC, REIT | 92,414 | 319,260 | ||||||
Segro PLC | 48,743 | 823,963 | ||||||
South Asian Real Estate Pvt. Ltd.(a)(b)(c)(d) | 2,000,000 | 3 | ||||||
1,383,282 | ||||||||
UNITED STATES (10.4%) | ||||||||
Real Estate (10.4%) | ||||||||
Alexandria Real Estate Equities, Inc. | 1,775 | 357,379 | ||||||
American Tower Corp., REIT | 1,334 | 377,255 | ||||||
Digital Realty Trust, Inc. | 2,721 | 419,469 | ||||||
Equinix, Inc., REIT | 650 | 533,267 | ||||||
Prologis, Inc., REIT | 4,834 | 618,945 | ||||||
2,306,315 | ||||||||
Total Common Stocks | 21,121,008 | |||||||
SHORT-TERM INVESTMENT—5.2% | ||||||||
UNITED STATES (5.2%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(e) | 1,142,238 | 1,142,238 | ||||||
Total Short-Term Investment | 1,142,238 | |||||||
Total Investments (Cost $31,805,069) —100.1% | 22,263,246 | |||||||
Liabilities in Excess of Other Assets—(0.1)% | (14,418 | ) | ||||||
Net Assets—100.0% | $ | 22,248,828 |
(a) | Denotes a security issued under Regulation S or Rule 144A. |
(b) | Non-income producing security. |
(c) | Illiquid security. |
(d) | Fair Value is determined pursuant to procedures approved by the Fund’s Board of Trustees. See Note 1(a) of the accompanying Notes to Statements of Investments for inputs used. |
(e) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
PLC | Public Limited Company |
REIT | Real Estate Investment Trust |
See accompanying Notes to Statements of Investments.
Statement of Investments |
July 31, 2021 (Unaudited) |
Aberdeen International Small Cap Fund |
Shares or Principal Amount | Value | |||||||
COMMON STOCKS (97.3%) | ||||||||
AUSTRALIA (1.5%) | ||||||||
Consumer Discretionary (1.5%) | ||||||||
ARB Corp. Ltd. | 105,700 | $ | 3,635,939 | |||||
BRAZIL (3.9%) | ||||||||
Consumer Discretionary (3.9%) | ||||||||
Afya Ltd., Class A(a) | 238,900 | 5,494,700 | ||||||
Arezzo Industria e Comercio SA | 235,900 | 4,099,970 | ||||||
9,594,670 | ||||||||
CANADA (4.3%) | ||||||||
Consumer Staples (1.9%) | ||||||||
Jamieson Wellness, Inc.(b) | 170,400 | 4,776,281 | ||||||
Industrials (2.4%) | ||||||||
Ritchie Bros Auctioneers, Inc. | 100,800 | 6,017,621 | ||||||
10,793,902 | ||||||||
CHINA (4.4%) | ||||||||
Consumer Discretionary (4.4%) | ||||||||
Baozun, Inc., Class A(a) | 547,500 | 4,562,538 | ||||||
China Education Group Holdings Ltd. | 3,484,000 | 6,317,704 | ||||||
10,880,242 | ||||||||
DENMARK (2.4%) | ||||||||
Information Technology (2.4%) | ||||||||
SimCorp A/S | 43,500 | 6,044,153 | ||||||
FRANCE (3.4%) | ||||||||
Consumer Staples (3.4%) | ||||||||
Interparfums SA | 115,289 | 8,467,637 | ||||||
GERMANY (5.5%) | ||||||||
Communication Services (2.1%) | ||||||||
CTS Eventim AG & Co. KGaA(a) | 76,300 | 5,184,212 | ||||||
Financials (3.4%) | ||||||||
Hypoport SE(a) | 14,000 | 8,435,121 | ||||||
13,619,333 | ||||||||
HONG KONG (1.9%) | ||||||||
Industrials (1.9%) | ||||||||
Kerry Logistics Network Ltd. | 1,606,900 | 4,788,396 | ||||||
INDIA (7.0%) | ||||||||
Communication Services (1.7%) | ||||||||
Affle India Ltd.(a) | 74,837 | 4,222,636 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued) |
July 31, 2021 (Unaudited) |
Aberdeen International Small Cap Fund |
Health Care (5.3%) | ||||||||
Sanofi India Ltd. | 54,200 | $ | 6,074,610 | |||||
Syngene International Ltd.(a)(b) | 823,600 | 7,059,360 | ||||||
13,133,970 | ||||||||
17,356,606 | ||||||||
INDONESIA (2.5%) | ||||||||
Consumer Discretionary (1.5%) | ||||||||
Ace Hardware Indonesia Tbk PT | 40,893,700 | 3,735,622 | ||||||
Real Estate (1.0%) | ||||||||
Pakuwon Jati Tbk PT(a) | 87,292,400 | 2,416,097 | ||||||
6,151,719 | ||||||||
ISRAEL (12.9%) | ||||||||
Consumer Discretionary (2.9%) | ||||||||
Maytronics Ltd. | 327,600 | 7,125,898 | ||||||
Industrials (3.6%) | ||||||||
Kornit Digital Ltd.(a) | 68,400 | 9,039,744 | ||||||
Information Technology (6.4%) | ||||||||
CyberArk Software Ltd.(a) | 61,300 | 8,706,439 | ||||||
Nova Measuring Instruments Ltd.(a) | 71,900 | 7,031,820 | ||||||
15,738,259 | ||||||||
31,903,901 | ||||||||
ITALY (2.9%) | ||||||||
Consumer Discretionary (2.9%) | ||||||||
Brunello Cucinelli SpA(a) | 118,000 | 7,309,802 | ||||||
JAPAN (9.0%) | ||||||||
Health Care (2.7%) | ||||||||
Asahi Intecc Co. Ltd. | 244,500 | 6,625,239 | ||||||
Industrials (6.3%) | ||||||||
Nabtesco Corp. | 155,300 | 5,882,210 | ||||||
Nihon M&A Center, Inc. | 175,200 | 4,879,147 | ||||||
TechnoPro Holdings, Inc. | 201,000 | 5,027,234 | ||||||
15,788,591 | ||||||||
22,413,830 | ||||||||
MEXICO (1.2%) | ||||||||
Industrials (1.2%) | ||||||||
Grupo Aeroportuario del Sureste SAB de CV, Class B(a) | 164,400 | 2,974,623 | ||||||
POLAND (3.6%) | ||||||||
Consumer Staples (3.6%) | ||||||||
Dino Polska SA(a)(b) | 111,100 | 8,894,458 | ||||||
ROMANIA (3.1%) | ||||||||
Information Technology (3.1%) | ||||||||
Endava PLC, ADR(a) | 58,900 | 7,575,718 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued) |
July 31, 2021 (Unaudited) |
Aberdeen International Small Cap Fund |
SOUTH KOREA (4.5%) | ||||||||
Materials (4.5%) | ||||||||
Chunbo Co. Ltd. | 30,400 | $ | 5,977,715 | |||||
Hansol Chemical Co. Ltd. | 22,000 | 5,122,613 | ||||||
11,100,328 | ||||||||
SWEDEN (2.0%) | ||||||||
Financials (2.0%) | ||||||||
Nordnet AB publ | 311,400 | 5,024,564 | ||||||
SWITZERLAND (3.7%) | ||||||||
Health Care (2.2%) | ||||||||
Tecan Group AG | 9,300 | 5,363,022 | ||||||
Industrials (1.5%) | ||||||||
VAT Group AG(b) | 9,500 | 3,729,270 | ||||||
9,092,292 | ||||||||
TAIWAN (4.5%) | ||||||||
Industrials (2.7%) | ||||||||
Voltronic Power Technology Corp. | 136,000 | 6,626,687 | ||||||
Information Technology (1.8%) | ||||||||
Chroma ATE, Inc. | 655,000 | 4,614,039 | ||||||
11,240,726 | ||||||||
UNITED KINGDOM (10.3%) | ||||||||
Health Care (8.7%) | ||||||||
Abcam PLC(a) | 232,500 | 4,388,719 | ||||||
Dechra Pharmaceuticals PLC | 126,000 | 8,704,464 | ||||||
Genus PLC | 111,429 | 8,538,304 | ||||||
21,631,487 | ||||||||
Industrials (1.6%) | ||||||||
Rotork PLC | 772,700 | 3,874,876 | ||||||
25,506,363 | ||||||||
UNITED STATES (2.8%) | ||||||||
Health Care (2.8%) | ||||||||
Inmode Ltd.(a) | 60,400 | 6,865,668 | ||||||
Total Common Stocks | 241,234,870 | |||||||
SHORT-TERM INVESTMENT—2.8% | ||||||||
UNITED STATES (2.8%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(c) | 6,913,769 | 6,913,769 | ||||||
Total Short-Term Investment | 6,913,769 | |||||||
Total Investments (Cost $182,698,823) —100.1% | 248,148,639 | |||||||
Liabilities in Excess of Other Assets—(0.1)% | (143,463 | ) | ||||||
Net Assets—100.0% | $ | 248,005,176 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded) |
July 31, 2021 (Unaudited) |
Aberdeen International Small Cap Fund |
(a) | Non-income producing security. |
(b) | Denotes a security issued under Regulation S or Rule 144A. |
(c) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
ADR | American Depositary Receipt |
PLC | Public Limited Company |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen Realty Income & Growth Fund
shares Or principal amount | VAlue | |||||||
COMMON STOCKS (99.0%) | ||||||||
UNITED STATES (99.0%) | ||||||||
Diversified REITs (2.1%) | ||||||||
Empire State Realty Trust, Inc. | 38,796 | $ | 443,438 | |||||
STORE Capital Corp. | 20,827 | 753,729 | ||||||
1,197,167 | ||||||||
Health Care REITs (9.0%) | ||||||||
Omega Healthcare Investors, Inc. | 20,396 | 739,967 | ||||||
Ventas, Inc. | 24,925 | 1,490,016 | ||||||
Welltower, Inc. | 34,436 | 2,991,111 | ||||||
5,221,094 | ||||||||
Hotel & Resort REITs (7.1%) | ||||||||
DiamondRock Hospitality Co.(a) | 90,941 | 783,002 | ||||||
Host Hotels & Resorts, Inc.(a) | 83,268 | 1,326,459 | ||||||
MGM Growth Properties LLC | 29,797 | 1,126,327 | ||||||
Sunstone Hotel Investors, Inc.(a) | 77,045 | 889,099 | ||||||
4,124,887 | ||||||||
Industrial REITs (13.7%) | ||||||||
Duke Realty Corp. | 24,129 | 1,227,684 | ||||||
Prologis, Inc. | 43,384 | 5,554,887 | ||||||
STAG Industrial, Inc. | 27,652 | 1,142,581 | ||||||
7,925,152 | ||||||||
Office REITs (8.6%) | ||||||||
Alexandria Real Estate Equities, Inc. | 7,730 | 1,556,358 | ||||||
Boston Properties, Inc. | 9,897 | 1,161,710 | ||||||
Cousins Properties, Inc. | 24,224 | 962,177 | ||||||
Highwoods Properties, Inc. | 17,738 | 845,925 | ||||||
Hudson Pacific Properties, Inc. | 14,933 | 407,074 | ||||||
4,933,244 | ||||||||
Residential REITs (18.2%) | ||||||||
American Homes 4 Rent | 25,656 | 1,077,552 | ||||||
AvalonBay Communities, Inc. | 8,736 | 1,990,323 | ||||||
Camden Property Trust | 7,448 | 1,112,657 | ||||||
Equity LifeStyle Properties, Inc. | 3,895 | 326,401 | ||||||
Equity Residential | 25,936 | 2,181,996 | ||||||
Invitation Homes, Inc. | 49,197 | 2,001,334 | ||||||
Sun Communities, Inc. | 9,194 | 1,803,035 | ||||||
10,493,298 | ||||||||
Retail REITs (17.0%) | ||||||||
Agree Realty Corp. | 7,888 | 592,783 | ||||||
Brixmor Property Group, Inc. | 40,026 | 921,398 | ||||||
Kimco Realty Corp. | 47,525 | 1,013,708 | ||||||
National Retail Properties, Inc. | 23,095 | 1,128,653 | ||||||
Realty Income Corp. | 30,775 | 2,163,175 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen Realty Income & Growth Fund
Simon Property Group, Inc. | 19,893 | $ | 2,516,862 | |||||
SITE Centers Corp. | 46,723 | 741,027 | ||||||
Spirit Realty Capital, Inc. | 14,458 | 726,081 | ||||||
9,803,687 | ||||||||
Specialized REITs (23.3%) | ||||||||
American Tower Corp. | 2,238 | 632,906 | ||||||
Digital Realty Trust, Inc. | 11,692 | 1,802,439 | ||||||
Equinix, Inc., REIT | 4,585 | 3,761,580 | ||||||
Extra Space Storage, Inc. | 8,292 | 1,443,969 | ||||||
Gaming and Leisure Properties, Inc. | 27,012 | 1,278,748 | ||||||
Life Storage, Inc. | 8,855 | 1,039,223 | ||||||
Public Storage | 7,791 | 2,434,532 | ||||||
Sabra Health Care REIT, Inc. | 26,860 | 499,327 | ||||||
SBA Communications Corp. | 1,619 | 552,063 | ||||||
13,444,787 | ||||||||
57,143,316 | ||||||||
Total Common Stocks | 57,143,316 | |||||||
SHORT-TERM INVESTMENT—1.2% | ||||||||
United States (1.2%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(b) | 709,992 | 709,992 | ||||||
Total Short-Term Investment | 709,992 | |||||||
Total Investments (Cost $38,513,650) —100.2% | 57,853,308 | |||||||
Liabilities in Excess of Other Assets—(0.2)% | (141,356 | ) | ||||||
Net Assets—100.0% | $ | 57,711,952 |
(a) | Non-income producing security. |
(b) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
REIT | Real Estate Investment Trust |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen U.S. Small Cap Equity Fund
Shares or Principal Amount | Value | |||||||
COMMON STOCKS (96.6%) | ||||||||
Canada (4.5%) | ||||||||
Consumer Staples (1.7%) | ||||||||
Jamieson Wellness, Inc.(a) | 662,015 | $ | 18,556,160 | |||||
Financials (2.8%) | ||||||||
CI Financial Corp. | 907,163 | 16,542,127 | ||||||
TMX Group Ltd. | 132,588 | 14,560,662 | ||||||
31,102,789 | ||||||||
49,658,949 | ||||||||
India (2.3%) | ||||||||
Information Technology (2.3%) | ||||||||
WNS Holdings Ltd., ADR(b) | 310,382 | 25,556,854 | ||||||
Israel (3.1%) | ||||||||
Information Technology (3.1%) | ||||||||
Cognyte Software Ltd.(b) | 446,020 | 11,583,140 | ||||||
CyberArk Software Ltd.(b) | 162,713 | 23,110,127 | ||||||
34,693,267 | ||||||||
Singapore (1.7%) | ||||||||
Information Technology (1.7%) | ||||||||
Kulicke & Soffa Industries, Inc. | 354,965 | 19,295,897 | ||||||
UNITED STATES (85.0%) | ||||||||
Communication Services (1.8%) | ||||||||
Cogent Communications Holdings, Inc. | 263,567 | 20,455,435 | ||||||
Consumer Discretionary (9.6%) | ||||||||
Dorman Products, Inc.(b) | 221,306 | 22,385,102 | ||||||
LCI Industries | 194,419 | 28,350,179 | ||||||
LGI Homes, Inc.(b) | 120,340 | 20,566,106 | ||||||
National Vision Holdings, Inc.(b) | 347,852 | 18,777,051 | ||||||
Stride, Inc.(b) | 567,576 | 17,401,880 | ||||||
107,480,318 | ||||||||
Consumer Staples (3.4%) | ||||||||
BJ's Wholesale Club Holdings, Inc.(b) | 394,744 | 19,989,836 | ||||||
J&J Snack Foods Corp. | 107,311 | 17,639,782 | ||||||
37,629,618 | ||||||||
Financials (13.9%) | ||||||||
AMERISAFE, Inc. | 105,689 | 6,045,411 | ||||||
First Interstate BancSystem, Inc., Class A | 556,020 | 23,308,358 | ||||||
Glacier Bancorp, Inc. | 229,264 | 11,820,852 | ||||||
Hamilton Lane, Inc., Class A | 118,061 | 10,979,673 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 449,766 | 25,546,709 | ||||||
Live Oak Bancshares, Inc. | 278,727 | 16,776,578 | ||||||
PJT Partners, Inc., Class A | 335,309 | 26,211,104 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen U.S. Small Cap Equity Fund
PRA Group, Inc.(b) | 476,477 | $ | 18,482,543 | |||||
Wintrust Financial Corp. | 221,708 | 15,829,951 | ||||||
155,001,179 | ||||||||
Health Care (16.3%) | ||||||||
Addus HomeCare Corp.(b) | 158,835 | 13,785,290 | ||||||
AMN Healthcare Services, Inc.(b) | 157,179 | 15,805,920 | ||||||
CONMED Corp. | 116,024 | 16,004,351 | ||||||
Health Catalyst, Inc.(b) | 164,635 | 9,558,708 | ||||||
Heska Corp.(b) | 71,312 | 17,164,798 | ||||||
Inmode Ltd.(b) | 254,548 | 28,934,471 | ||||||
Integer Holdings Corp.(b) | 261,628 | 25,610,765 | ||||||
Ligand Pharmaceuticals, Inc.(b) | 174,592 | 19,817,938 | ||||||
Medpace Holdings, Inc.(b) | 117,123 | 20,606,621 | ||||||
US Physical Therapy, Inc. | 124,545 | 14,716,237 | ||||||
182,005,099 | ||||||||
Industrials (21.3%) | ||||||||
Ameresco, Inc., Class A(b) | 256,597 | 17,584,593 | ||||||
ASGN, Inc.(b) | 187,376 | 18,949,335 | ||||||
Atkore, Inc.(b) | 334,984 | 25,160,648 | ||||||
Casella Waste Systems, Inc., Class A(b) | 340,161 | 23,396,274 | ||||||
Gibraltar Industries, Inc.(b) | 286,205 | 21,373,789 | ||||||
Helios Technologies, Inc. | 127,211 | 10,285,009 | ||||||
Hub Group, Inc., Class A(b) | 329,025 | 21,807,777 | ||||||
Mercury Systems, Inc.(b) | 322,889 | 21,310,674 | ||||||
RBC Bearings, Inc.(b) | 60,780 | 14,283,300 | ||||||
Saia, Inc.(b) | 91,720 | 20,728,720 | ||||||
Shyft Group, Inc. | 477,269 | 18,823,489 | ||||||
Werner Enterprises, Inc. | 537,482 | 24,568,302 | ||||||
238,271,910 | ||||||||
Information Technology (11.9%) | ||||||||
Cohu, Inc.(b) | 359,398 | 12,726,283 | ||||||
Model N, Inc.(b) | 415,500 | 13,449,735 | ||||||
Onto Innovation, Inc.(b) | 236,668 | 16,585,694 | ||||||
Perficient, Inc.(b) | 351,641 | 33,156,230 | ||||||
Rapid7, Inc.(b) | 145,317 | 16,529,809 | ||||||
Verint Systems, Inc.(b) | 415,369 | 17,723,795 | ||||||
Workiva, Inc.(b) | 171,455 | 22,249,715 | ||||||
132,421,261 | ||||||||
Materials (5.5%) | ||||||||
Graphic Packaging Holding Co. | 1,288,174 | 24,694,296 | ||||||
Kaiser Aluminum Corp. | 192,089 | 23,373,389 | ||||||
Materion Corp. | 142,633 | 10,178,291 | ||||||
Ranpak Holdings Corp.(b) | 102,877 | 2,635,709 | ||||||
60,881,685 | ||||||||
Real Estate (1.3%) | ||||||||
Terreno Realty Corp., REIT | 218,005 | 14,902,822 | ||||||
949,049,327 | ||||||||
Total Common Stocks | 1,078,254,294 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen U.S. Small Cap Equity Fund
SHORT-TERM INVESTMENT—3.6% | ||||||||
United States (3.6%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(c) | $ | 40,029,561 | $ | 40,029,561 | ||||
Total Short-Term Investment | 40,029,561 | |||||||
Total Investments (Cost $913,158,131) —100.2% | 1,118,283,855 | |||||||
Liabilities in Excess of Other Assets—(0.2)% | (1,776,087 | ) | ||||||
Net Assets—100.0% | $ | 1,116,507,768 |
(a) | Denotes a security issued under Regulation S or Rule 144A. |
(b) | Non-income producing security. |
(c) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
ADR | American Depositary Receipt |
REIT | Real Estate Investment Trust |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen U.S. Sustainable Leaders Fund
Shares or Principal Amount | Value | |||||||
COMMON STOCKS (95.9%) | ||||||||
CANADA (5.7%) | ||||||||
Consumer Staples (2.4%) | ||||||||
Jamieson Wellness, Inc.(a) | 415,176 | $ | 11,637,307 | |||||
FINANCIALS (3.3%) | ||||||||
CI Financial Corp. | 392,341 | 7,154,343 | ||||||
TMX Group Ltd. | 85,217 | 9,358,433 | ||||||
16,512,776 | ||||||||
28,150,083 | ||||||||
Ireland (3.6%) | ||||||||
Health Care (3.6%) | ||||||||
ICON PLC(b) | 72,821 | 17,715,165 | ||||||
Israel (4.5%) | ||||||||
Information Technology (4.5%) | ||||||||
NICE Ltd., ADR(b) | 80,622 | 22,465,320 | ||||||
UNITED STATES (82.1%) | ||||||||
Communication Services (2.5%) | ||||||||
Cable One, Inc. | 6,614 | 12,487,166 | ||||||
Consumer Discretionary (6.5%) | ||||||||
Burlington Stores, Inc.(b) | 57,863 | 19,372,532 | ||||||
Pool Corp. | 26,829 | 12,819,433 | ||||||
32,191,965 | ||||||||
Consumer Staples (1.9%) | ||||||||
Colgate-Palmolive Co. | 117,674 | 9,355,083 | ||||||
Energy (0.4%) | ||||||||
New Fortress Energy, Inc. | 56,828 | 1,722,457 | ||||||
Financials (9.3%) | ||||||||
American Express Co. | 88,237 | 15,047,056 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 134,422 | 7,635,169 | ||||||
Huntington Bancshares, Inc. | 688,064 | 9,687,941 | ||||||
SVB Financial Group(b) | 24,933 | 13,712,153 | ||||||
46,082,319 | ||||||||
Health Care (4.7%) | ||||||||
Horizon Therapeutics PLC(b) | 125,971 | 12,599,619 | ||||||
Integer Holdings Corp.(b) | 106,622 | 10,437,228 | ||||||
23,036,847 | ||||||||
Industrials (16.1%) | ||||||||
Atkore, Inc.(b) | 155,124 | 11,651,364 | ||||||
Chart Industries, Inc.(b) | 62,524 | 9,719,356 | ||||||
Helios Technologies, Inc. | 77,849 | 6,294,092 | ||||||
Tetra Tech, Inc. | 169,916 | 22,687,184 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen U.S. Sustainable Leaders Fund
Trex Co., Inc.(b) | 160,496 | $ | 15,584,162 | |||||
Waste Management, Inc. | 91,633 | 13,585,508 | ||||||
79,521,666 | ||||||||
Information Technology (27.2%) | ||||||||
Adobe, Inc.(b) | 11,921 | 7,410,451 | ||||||
Akamai Technologies, Inc.(b) | 147,645 | 17,705,588 | ||||||
Autodesk, Inc.(b) | 46,745 | 15,011,222 | ||||||
Marvell Technology, Inc. | 193,523 | 11,710,077 | ||||||
Mastercard, Inc., Class A | 51,903 | 20,031,444 | ||||||
Microsoft Corp. | 147,702 | 42,081,777 | ||||||
RingCentral, Inc., Class A(b) | 34,802 | 9,301,530 | ||||||
SolarEdge Technologies, Inc.(b) | 42,675 | 11,073,309 | ||||||
134,325,398 | ||||||||
Materials (2.6%) | ||||||||
Ecolab, Inc. | 58,727 | 12,968,683 | ||||||
Real Estate (6.6%) | ||||||||
Alexandria Real Estate Equities, Inc. | 66,574 | 13,404,009 | ||||||
American Tower Corp., REIT | 67,058 | 18,964,003 | ||||||
32,368,012 | ||||||||
Utilities (4.3%) | ||||||||
American Water Works Co., Inc. | 74,997 | 12,757,739 | ||||||
NextEra Energy, Inc. | 107,393 | 8,365,915 | ||||||
21,123,654 | ||||||||
405,183,250 | ||||||||
Total Common Stocks | 473,513,818 | |||||||
SHORT-TERM INVESTMENTS (3.2%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(c) | 15,857,463 | 15,857,463 | ||||||
Total Short-Term Investments | 15,857,463 | |||||||
Total Investments (Cost $392,592,528) —99.1% | 489,371,281 | |||||||
Other Assets in Excess of Liabilities—0.9% | 4,296,188 | |||||||
Net Assets—100.0% | $ | 493,667,469 |
(a) | Denotes a security issued under Regulation S or Rule 144A. |
(b) | Non-income producing security. |
(c) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
ADR | American Depositary Receipt |
PLC | Public Limited Company |
REIT | Real Estate Investment Trust |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen U.S. Sustainable Leaders Smaller Companies Fund
Shares or Principal Amount | Value | |||||||
COMMON STOCKS (95.1%) | ||||||||
Communication Services (4.1%) | ||||||||
Cable One, Inc. | 150 | $ | 283,199 | |||||
Cogent Communications Holdings, Inc. | 5,115 | 396,975 | ||||||
680,174 | ||||||||
Consumer Discretionary (8.3%) | ||||||||
Burlington Stores, Inc.(a) | 1,918 | 642,146 | ||||||
LGI Homes, Inc.(a) | 2,262 | 386,576 | ||||||
Pool Corp. | 728 | 347,853 | ||||||
1,376,575 | ||||||||
Consumer Staples (3.1%) | ||||||||
Jamieson Wellness, Inc.(b) | 18,530 | 519,393 | ||||||
Energy (0.3%) | ||||||||
New Fortress Energy, Inc. | 1,910 | 57,892 | ||||||
Financials (15.8%) | ||||||||
CI Financial Corp. | 17,786 | 324,328 | ||||||
First Interstate BancSystem, Inc., Class A | 7,816 | 327,647 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 8,821 | 501,033 | ||||||
Huntington Bancshares, Inc. | 29,946 | 421,640 | ||||||
Live Oak Bancshares, Inc. | 3,956 | 238,111 | ||||||
PJT Partners, Inc., Class A | 6,439 | 503,336 | ||||||
TMX Group Ltd. | 2,943 | 323,197 | ||||||
2,639,292 | ||||||||
Health Care (12.6%) | ||||||||
AMN Healthcare Services, Inc.(a) | 3,276 | 329,434 | ||||||
CONMED Corp. | 1,707 | 235,464 | ||||||
Health Catalyst, Inc.(a) | 4,246 | 246,523 | ||||||
ICON PLC(a) | 2,170 | 527,896 | ||||||
Integer Holdings Corp.(a) | 4,994 | 488,863 | ||||||
Ligand Pharmaceuticals, Inc.(a) | 2,451 | 278,213 | ||||||
2,106,393 | ||||||||
Industrials (21.7%) | ||||||||
Ameresco, Inc., Class A(a) | 6,351 | 435,234 | ||||||
Atkore, Inc.(a) | 5,586 | 419,565 | ||||||
Chart Industries, Inc.(a) | 2,532 | 393,599 | ||||||
Helios Technologies, Inc. | 2,165 | 175,040 | ||||||
JB Hunt Transport Services, Inc. | 1,974 | 332,520 | ||||||
Ritchie Bros Auctioneers, Inc. | 7,767 | 463,923 | ||||||
Tetra Tech, Inc. | 3,950 | 527,404 | ||||||
Trex Co., Inc.(a) | 5,578 | 541,624 | ||||||
Vertiv Holdings Co. | 11,788 | 330,536 | ||||||
3,619,445 | ||||||||
Information Technology (23.8%) | ||||||||
Akamai Technologies, Inc.(a) | 4,141 | 496,589 | ||||||
Cree, Inc.(a) | 3,530 | 327,443 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen U.S. Sustainable Leaders Smaller Companies Fund
CyberArk Software Ltd.(a) | 3,147 | $ | 446,968 | |||||
NICE Ltd., ADR(a) | 2,217 | 617,767 | ||||||
Onto Innovation, Inc.(a) | 4,904 | 343,672 | ||||||
Pegasystems, Inc. | 4,154 | 530,217 | ||||||
Perficient, Inc.(a) | 4,112 | 387,720 | ||||||
Rapid7, Inc.(a) | 2,898 | 329,648 | ||||||
SolarEdge Technologies, Inc.(a) | 1,876 | 486,784 | ||||||
3,966,808 | ||||||||
Materials (2.5%) | ||||||||
Graphic Packaging Holding Co. | 17,620 | 337,775 | ||||||
Ranpak Holdings Corp.(a) | 3,290 | 84,290 | ||||||
422,065 | ||||||||
Utilities (2.9%) | ||||||||
Essential Utilities, Inc. | 9,852 | 483,930 | ||||||
Total Common Stocks | 15,871,967 | |||||||
SHORT-TERM INVESTMENT—3.8% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(c) | 630,119 | 630,119 | ||||||
Total Short-Term Investment | 630,119 | |||||||
Total Investments (Cost $14,556,896) —98.9% | 16,502,086 | |||||||
Other Assets in Excess of Liabilities—1.1% | 175,624 | |||||||
Net Assets—100.0% | $ | 16,677,710 |
(a) | Non-income producing security. |
(b) | Denotes a security issued under Regulation S or Rule 144A. |
(c) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
ADR | American Depositary Receipt |
PLC | Public Limited Company |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Debt Fund
Shares or Principal Amount | Value (US$) | |||||||
CORPORATE BONDS (21.4%) | ||||||||
CHINA (1.7%) | ||||||||
Investment Companies (0.4%) | ||||||||
Huarong Finance 2019 Co. Ltd. (USD), 2.13%, 09/30/2023 (a) | $ | 215,000 | $ | 160,175 | ||||
Real Estate (1.3%) | ||||||||
Country Garden Holdings Co. Ltd. (USD), 3.13%, 10/22/2025 (a) | 200,000 | 195,030 | ||||||
Shimao Group Holdings Ltd. (USD), 6.13%, 02/21/2024 (a) | 200,000 | 203,599 | ||||||
Sunac China Holdings Ltd. (USD), 6.50%, 01/26/2026 (a) | 200,000 | 176,012 | ||||||
574,641 | ||||||||
734,816 | ||||||||
COLOMBIA (0.5%) | ||||||||
Commercial Banks (0.5%) | ||||||||
Bancolombia SA, (fixed rate to 10/18/2022, variable rate thereafter) (USD), 4.88%, 10/18/2027 | 200,000 | 202,002 | ||||||
GEORGIA (1.2%) | ||||||||
Transportation (1.2%) | ||||||||
Georgian Railway JSC (USD), 4.00%, 06/17/2028 (a) | 520,000 | 525,200 | ||||||
INDIA (0.6%) | ||||||||
Commercial Banks (0.6%) | ||||||||
HDFC Bank Ltd. (INR), 8.10%, 03/22/2025 (a) | 20,000,000 | 276,082 | ||||||
INDONESIA (3.0%) | ||||||||
Electric Utilities (1.7%) | ||||||||
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara (USD), 6.25%, 01/25/2049 (a) | 587,000 | 744,022 | ||||||
Oil, Gas & Consumable Fuels (0.6%) | ||||||||
Pertamina Persero PT (USD), 5.63%, 05/20/2043 (a) | 200,000 | 236,453 | ||||||
Sovereign Agency (0.7%) | ||||||||
Lembaga Pembiayaan Ekspor Indonesia (USD), 3.88%, 04/06/2024 (a) | 290,000 | 310,300 | ||||||
1,290,775 | ||||||||
KAZAKHSTAN (0.5%) | ||||||||
Oil, Gas & Consumable Fuels (0.5%) | ||||||||
Tengizchevroil Finance Co. International Ltd. (USD), 4.00%, 08/15/2026 (a)(b) | 200,000 | 217,000 | ||||||
KUWAIT (0.6%) | ||||||||
Chemicals (0.6%) | ||||||||
MEGlobal Canada ULC (USD), 5.00%, 05/18/2025 (a) | 250,000 | 279,425 | ||||||
MEXICO (4.8%) | ||||||||
Commercial Banks (0.6%) | ||||||||
BBVA Bancomer SA., (fixed rate to 09/13/2029, variable rate thereafter) (USD), 5.88%, 09/13/2034 (a) | 230,000 | 249,543 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Debt Fund
Oil, Gas & Consumable Fuels (3.6%) | ||||||||
Petroleos Mexicanos | ||||||||
(USD), 6.50%, 03/13/2027 | $ | 121,000 | $ | 128,139 | ||||
(USD), 6.84%, 01/23/2030 | 180,000 | 187,776 | ||||||
(USD), 6.50%, 06/02/2041 | 330,000 | 298,567 | ||||||
(USD), 6.75%, 09/21/2047 | 324,000 | 289,624 | ||||||
(USD), 6.35%, 02/12/2048 | 340,000 | 290,608 | ||||||
(USD), 6.95%, 01/28/2060 | 420,000 | 376,908 | ||||||
1,571,622 | ||||||||
Real Estate Investment Trust (REIT) Funds (0.6%) | ||||||||
Trust Fibra Uno (USD), 6.39%, 01/15/2050 (a) | 220,000 | 261,719 | ||||||
2,082,884 | ||||||||
MOROCCO (0.6%) | ||||||||
Chemicals (0.6%) | ||||||||
OCP SA (USD), 6.88%, 04/25/2044 (a) | 200,000 | 245,474 | ||||||
NIGERIA (0.5%) | ||||||||
Engineering & Construction (0.5%) | ||||||||
IHS Netherlands Holdco BV (USD), 8.00%, 09/18/2027 (a) | 200,000 | 214,000 | ||||||
OMAN (0.4%) | ||||||||
Oil, Gas & Consumable Fuels (0.4%) | ||||||||
OQ SAOC (USD), 5.13%, 05/06/2028 (a)(c) | 200,000 | 200,500 | ||||||
PANAMA (0.5%) | ||||||||
Commercial Banks (0.5%) | ||||||||
Global Bank Corp., (fixed rate to 04/16/2028, variable rate thereafter) (USD), 5.25%, 04/16/2029 (a) | 198,000 | 209,682 | ||||||
PERU (0.9%) | ||||||||
Metals & Mining (0.5%) | ||||||||
Nexa Resources SA (USD), 5.38%, 05/04/2027 (a) | 200,000 | 210,252 | ||||||
Oil, Gas & Consumable Fuels (0.4%) | ||||||||
Petroleos del Peru SA (USD), 5.63%, 06/19/2047 (a) | 200,000 | 206,500 | ||||||
416,752 | ||||||||
SOUTH AFRICA (1.4%) | ||||||||
Diversified Telecommunication Services (0.6%) | ||||||||
MTN Mauritius Investments Ltd. (USD), 6.50%, 10/13/2026 (a) | 250,000 | 287,404 | ||||||
Electric Utilities (0.8%) | ||||||||
Eskom Holdings SOC Ltd. (USD), 7.13%, 02/11/2025 (a) | 330,000 | 346,540 | ||||||
633,944 | ||||||||
TUNISIA (0.4%) | ||||||||
Commercial Banks (0.4%) | ||||||||
Banque Centrale de Tunisie International Bond (EUR), 6.38%, 07/15/2026 (a) | 169,000 | 169,529 | ||||||
UKRAINE (0.5%) | ||||||||
Iron/Steel (0.5%) | ||||||||
Metinvest BV (USD), 8.50%, 04/23/2026 (a) | 200,000 | 226,377 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Debt Fund
UNITED ARAB EMIRATES (3.1%) | ||||||||
Airlines (0.7%) | ||||||||
Zahidi Ltd. (USD), 4.50%, 03/22/2028 (a)(b) | $ | 305,063 | $ | 310,615 | ||||
Diversified Financial Services (0.8%) | ||||||||
ICD Sukuk Co. Ltd. (USD), 5.00%, 02/01/2027 (a) | 300,000 | 331,322 | ||||||
Energy Equipment & Services (1.1%) | ||||||||
Abu Dhabi Crude Oil Pipeline LLC (USD), 4.60%, 11/02/2047 (a)(b) | 200,000 | 238,000 | ||||||
Galaxy Pipeline Assets Bidco Ltd. (USD), 2.63%, 03/31/2036 (a)(b) | 264,000 | 261,466 | ||||||
499,466 | ||||||||
Real Estate (0.5%) | ||||||||
MAF Global Securities Ltd., (fixed rate to 09/07/2022, variable rate thereafter) (USD), 5.50%, 09/07/2022 (a)(d) | 200,000 | 204,742 | ||||||
1,346,145 | ||||||||
VENEZUELA (0.2%) | ||||||||
Oil, Gas & Consumable Fuels (0.2%) | ||||||||
Petroleos de Venezuela SA | ||||||||
(USD), 6.00%, 05/16/2024 (a)(b)(c)(e) | 1,140,000 | 48,450 | ||||||
(USD), 6.00%, 11/15/2026 (a)(b)(c)(e) | 525,236 | 22,323 | ||||||
70,773 | ||||||||
Total Corporate Bonds | 9,341,360 | |||||||
GOVERNMENT BONDS (73.3%) | ||||||||
ANGOLA (1.6%) | ||||||||
Angolan Government International Bond | ||||||||
(USD), 9.50%, 11/12/2025 (a) | 380,000 | 418,948 | ||||||
(USD), 9.38%, 05/08/2048 (a) | 270,000 | 282,825 | ||||||
701,773 | ||||||||
ARGENTINA (2.5%) | ||||||||
Argentine Republic Government International Bond | ||||||||
(USD), 1.00%, 07/09/2029 | 174,073 | 66,757 | ||||||
VRN (USD), 0.50%, 07/09/2030 (f) | 1,912,000 | 695,012 | ||||||
VRN (USD), 1.13%, 07/09/2035 (f) | 1,068,403 | 344,571 | ||||||
(USD), 0.00%, 12/15/2035 | 533,627 | 2,668 | ||||||
1,109,008 | ||||||||
ARMENIA (1.1%) | ||||||||
Republic of Armenia International Bond | ||||||||
(USD), 7.15%, 03/26/2025 (a) | 200,000 | 227,000 | ||||||
(USD), 3.95%, 09/26/2029 (a) | 260,000 | 257,400 | ||||||
484,400 | ||||||||
BAHAMAS (1.7%) | ||||||||
Bahamas Government International Bond (USD), 6.00%, 11/21/2028 (a) | 770,000 | 753,453 | ||||||
BAHRAIN (0.5%) | ||||||||
Bahrain Government International Bond (USD), 7.00%, 01/26/2026 (a) | 200,000 | 224,131 | ||||||
BARBADOS (0.3%) | ||||||||
Barbados Government International Bond (USD), 6.50%, 10/01/2029 (a)(b) | 123,400 | 124,017 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Debt Fund
BELARUS (1.9%) | ||||||||
Republic of Belarus International Bond (USD), 6.88%, 02/28/2023 (a) | $ | 215,000 | $ | 215,357 | ||||
Republic of Belarus Ministry of Finance (USD), 5.88%, 02/24/2026 (a) | 650,000 | 603,622 | ||||||
818,979 | ||||||||
BELIZE (0.3%) | ||||||||
Belize Government International Bond (USD), 4.94%, 02/20/2034 (a)(b)(g) | 299,139 | 122,049 | ||||||
BENIN (1.2%) | ||||||||
Benin Government International Bond | ||||||||
(EUR), 4.88%, 01/19/2032 (a)(b) | 350,000 | 410,677 | ||||||
(EUR), 6.88%, 01/19/2052 (a)(b) | 100,000 | 121,828 | ||||||
532,505 | ||||||||
BRAZIL (5.7%) | ||||||||
Brazil Notas do Tesouro Nacional | ||||||||
Series B (BRL), 6.00%, 08/15/2024 (h) | 1,400,000 | 1,052,564 | ||||||
Series F (BRL), 10.00%, 01/01/2029 | 899,000 | 178,822 | ||||||
Brazil Notas do Tesouro Nacional Series F (BRL), 10.00%, 01/01/2027 | 6,300,000 | 1,253,149 | ||||||
2,484,535 | ||||||||
CAMEROON (0.5%) | ||||||||
Republic of Cameroon International Bond (EUR), 5.95%, 07/07/2032 (a)(b) | 200,000 | 233,761 | ||||||
CHILE (1.1%) | ||||||||
Bonos de la Tesoreria de la Republica en pesos (CLP), 4.70%, 09/01/2030 (a) | 360,000,000 | 492,182 | ||||||
COLOMBIA (0.8%) | ||||||||
Colombia Government International Bond (USD), 4.13%, 05/15/2051 | 370,000 | 344,326 | ||||||
CZECH REPUBLIC (1.0%) | ||||||||
Czech Republic Government Bond (CZK), 1.00%, 06/26/2026 (a) | 9,460,000 | 427,866 | ||||||
DOMINICAN REPB. (0.7%) | ||||||||
Dominican Republic International Bond (USD), 5.95%, 01/25/2027 (a) | 260,000 | 292,113 | ||||||
DOMINICAN REPUBLIC (2.4%) | ||||||||
Dominican Republic International Bond | ||||||||
(USD), 6.85%, 01/27/2045 (a) | 600,000 | 681,756 | ||||||
(USD), 5.88%, 01/30/2060 (a) | 360,000 | 363,244 | ||||||
1,045,000 | ||||||||
ECUADOR (1.7%) | ||||||||
Ecuador Government International Bond | ||||||||
VRN (USD), 5.00%, 07/31/2030 (a)(b)(f) | 646,240 | 563,851 | ||||||
VRN (USD), 1.00%, 07/31/2035 (a)(b)(f) | 279,589 | 193,618 | ||||||
757,469 | ||||||||
EGYPT (4.4%) | ||||||||
Egypt Government Bond (EGP), 14.48%, 04/06/2026 | 1,000 | 64 | ||||||
Egypt Government International Bond | ||||||||
(USD), 7.60%, 03/01/2029 (a) | 320,000 | 347,136 | ||||||
(EUR), 5.63%, 04/16/2030 (a) | 160,000 | 187,693 | ||||||
(USD), 7.90%, 02/21/2048 (a) | 625,000 | 609,375 | ||||||
(USD), 8.70%, 03/01/2049 (a) | 400,000 | 417,584 | ||||||
(USD), 8.88%, 05/29/2050 (a) | 340,000 | 361,797 | ||||||
1,923,649 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Debt Fund
EL SALVADOR (2.3%) | ||||||||
El Salvador Government International Bond | ||||||||
(USD), 5.88%, 01/30/2025 (a) | $ | 516,000 | $ | 462,083 | ||||
(USD), 8.63%, 02/28/2029 (a) | 380,000 | 356,634 | ||||||
(USD), 9.50%, 07/15/2052 (a) | 216,000 | 203,042 | ||||||
1,021,759 | ||||||||
GABON (0.6%) | ||||||||
Gabon Government International Bond (USD), 6.95%, 06/16/2025 (a) | 220,000 | 238,198 | ||||||
GEORGIA (0.5%) | ||||||||
Georgia Government International Bond (USD), 2.75%, 04/22/2026 (a) | 200,000 | 203,564 | ||||||
GHANA (2.3%) | ||||||||
Ghana Government International Bond (USD), 7.75%, 04/07/2029 (a)(b) | 336,000 | 338,389 | ||||||
Ghana Government International Bond | ||||||||
(USD), 8.63%, 04/07/2034 (a)(b) | 246,000 | 248,456 | ||||||
(USD), 7.88%, 02/11/2035 (a)(b) | 223,000 | 213,892 | ||||||
(USD), 8.95%, 03/26/2051 (a)(b) | 200,000 | 195,232 | ||||||
995,969 | ||||||||
HONDURAS (0.4%) | ||||||||
Honduras Government International Bond (USD), 5.63%, 06/24/2030 (a) | 150,000 | 156,563 | ||||||
IRAQ (1.2%) | ||||||||
Iraq International Bond | ||||||||
(USD), 6.75%, 03/09/2023 (a) | 280,000 | 284,024 | ||||||
(USD), 5.80%, 01/15/2028 (a) | 252,688 | 241,316 | ||||||
525,340 | ||||||||
IVORY COAST (1.4%) | ||||||||
Ivory Coast Government International Bond | ||||||||
(EUR), 5.88%, 10/17/2031 (a)(b) | 126,000 | 161,295 | ||||||
(EUR), 4.88%, 01/30/2032 (a)(b) | 250,000 | 299,409 | ||||||
(EUR), 6.88%, 10/17/2040 (a)(b) | 100,000 | 130,888 | ||||||
591,592 | ||||||||
JORDAN (1.2%) | ||||||||
Jordan Government International Bond | ||||||||
(USD), 4.95%, 07/07/2025 (a) | 210,000 | 218,146 | ||||||
(USD), 7.38%, 10/10/2047 (a) | 270,000 | 283,014 | ||||||
501,160 | ||||||||
KENYA (1.0%) | ||||||||
Republic of Kenya Government International Bond (USD), 7.00%, 05/22/2027 (a)(b) | 410,000 | 447,642 | ||||||
MOROCCO (0.5%) | ||||||||
Morocco Government International Bond (EUR), 1.50%, 11/27/2031 (a) | 210,000 | 234,695 | ||||||
NIGERIA (1.3%) | ||||||||
Nigeria Government International Bond | ||||||||
(USD), 7.63%, 11/21/2025 (a) | 253,000 | 284,195 | ||||||
(USD), 6.50%, 11/28/2027 (a) | 260,000 | 275,948 | ||||||
560,143 | ||||||||
OMAN (0.5%) | ||||||||
Oman Government International Bond (USD), 6.25%, 01/25/2031 (a) | 200,000 | 215,957 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Debt Fund
PAKISTAN (1.4%) | ||||||||
Pakistan Government International Bond (USD), 7.38%, 04/08/2031 (a) | $ | 587,000 | $ | 589,653 | ||||
PERU (0.7%) | ||||||||
Peruvian Government International Bond (USD), 2.78%, 01/23/2031 | 320,000 | 321,245 | ||||||
QATAR (5.2%) | ||||||||
Qatar Government International Bond | ||||||||
(USD), 4.00%, 03/14/2029 (a) | 250,000 | 288,438 | ||||||
(USD), 3.75%, 04/16/2030 (a) | 200,000 | 227,440 | ||||||
(USD), 5.10%, 04/23/2048 (a) | 400,000 | 536,000 | ||||||
(USD), 4.82%, 03/14/2049 (a) | 925,000 | 1,203,469 | ||||||
2,255,347 | ||||||||
ROMANIA (2.5%) | ||||||||
Romanian Government International Bond | ||||||||
(EUR), 2.00%, 01/28/2032 (a) | 160,000 | 190,759 | ||||||
(EUR), 2.75%, 04/14/2041 (a) | 160,000 | 186,346 | ||||||
(EUR), 3.38%, 01/28/2050 (a) | 556,000 | 690,860 | ||||||
1,067,965 | ||||||||
RUSSIA (2.3%) | ||||||||
Russian Federal Bond - OFZ (RUB), 7.75%, 09/16/2026 | 69,465,000 | 994,018 | ||||||
RWANDA (1.1%) | ||||||||
Rwanda International Government Bond (USD), 6.63%, 05/02/2023 (a) | 450,000 | 481,095 | ||||||
SAUDI ARABIA (2.2%) | ||||||||
Saudi Government International Bond (USD), 5.00%, 04/17/2049 (a) | 770,000 | 975,128 | ||||||
SENEGAL (0.9%) | ||||||||
Senegal Government International Bond | ||||||||
(EUR), 4.75%, 03/13/2028 (a)(b) | 100,000 | 123,961 | ||||||
(USD), 6.25%, 05/23/2033 (a)(b) | 260,000 | 275,574 | ||||||
399,535 | ||||||||
SERBIA (1.2%) | ||||||||
Serbia International Bond (EUR), 3.13%, 05/15/2027 (a) | 410,000 | 541,321 | ||||||
SOUTH AFRICA (2.4%) | ||||||||
Republic of South Africa Government Bond | ||||||||
Series 2037 (ZAR), 8.50%, 01/31/2037 | 1,150,000 | 67,070 | ||||||
Series 2040 (ZAR), 9.00%, 01/31/2040 | 12,500,000 | 747,310 | ||||||
Republic of South Africa Government International Bond (USD), 6.25%, 03/08/2041 | 200,000 | 219,976 | ||||||
1,034,356 | ||||||||
TUNISIA (0.7%) | ||||||||
Banque Centrale de Tunisie International Bond | ||||||||
(EUR), 6.75%, 10/31/2023 (a) | 200,000 | 209,634 | ||||||
(EUR), 5.63%, 02/17/2024 (a) | 100,000 | 101,429 | ||||||
311,063 | ||||||||
TURKEY (1.9%) | ||||||||
Turkey Government International Bond | ||||||||
(USD), 6.13%, 10/24/2028 | 560,000 | 575,288 | ||||||
(USD), 5.95%, 01/15/2031 | 264,000 | 260,478 | ||||||
835,766 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Debt Fund
UKRAINE (3.9%) | ||||||||
Ukraine Government International Bond | ||||||||
(USD), 7.75%, 09/01/2024 (a) | $ | 750,000 | $ | 813,903 | ||||
(EUR), 6.75%, 06/20/2026 (a) | 310,000 | 401,238 | ||||||
(USD), 1.26%, 05/31/2040 (a)(i) | 410,000 | 477,022 | ||||||
1,692,163 | ||||||||
UNITED ARAB EMIRATES (1.1%) | ||||||||
Finance Department Government of Sharjah (USD), 4.00%, 07/28/2050 (a) | 233,000 | 211,424 | ||||||
Sharjah Sukuk Program Ltd. (USD), 4.23%, 03/14/2028 (a) | 245,000 | 266,418 | ||||||
477,842 | ||||||||
URUGUAY (1.5%) | ||||||||
Uruguay Government International Bond | ||||||||
(UYU), 4.38%, 12/15/2028 (b)(h) | 22,455,714 | 610,559 | ||||||
(UYU), 8.25%, 05/21/2031 | 999,000 | 23,237 | ||||||
633,796 | ||||||||
UZBEKISTAN (1.7%) | ||||||||
Republic of Uzbekistan International Bond | ||||||||
(USD), 4.75%, 02/20/2024 (a) | 300,000 | 317,250 | ||||||
(USD), 3.70%, 11/25/2030 (a) | 212,000 | 209,152 | ||||||
(USD), 3.90%, 10/19/2031 (a) | 220,000 | 219,065 | ||||||
745,467 | ||||||||
VENEZUELA (0.0%) | ||||||||
Venezuela Government International Bond (USD), 9.25%, 05/07/2028 (a)(c)(e) | 165,000 | 16,995 | ||||||
Total Government Bonds | 31,936,553 | |||||||
WARRANTS (0.0%) | ||||||||
BRAZIL (0.0%) | ||||||||
OAS S.A.(c)(j)(k) | 29,232 | — | ||||||
UNITED STATES (0.0%) | ||||||||
CANADACO, Series A(c)(j)(k) | 92,841 | — | ||||||
Total Warrants | 0 | |||||||
SHORT-TERM INVESTMENTS (4.1%) | ||||||||
UNITED STATES (4.1%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(l) | 1,769,135 | 1,769,135 | ||||||
Total Short-Term Investments | 1,769,135 | |||||||
Total Investments (Cost $43,975,815) —98.8% | 43,047,048 | |||||||
Other Assets in Excess of Liabilities—1.2% | 541,995 | |||||||
Net Assets—100.0% | $ | 43,589,043 |
(a) | Denotes a security issued under Regulation S or Rule 144A. |
(b) | Sinkable security. |
(c) | Illiquid security. |
(d) | Perpetual bond. This is a bond that has no maturity date, is redeemable and pays a steady stream of interest indefinitely. The maturity date presented for these instruments represents the next call/put date. |
(e) | Security is in default. |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Debt Fund
(f) | Indicates a stepped coupon bond. This bond was issued with a low coupon that gradually increases over the life of the bond. |
(g) | Payment-in-kind. This is a type of bond that pays interest in additional bonds rather than in cash. |
(h) | Inflation linked security. |
(i) | Variable Rate Instrument. The rate shown is based on the latest available information as of July 31, 2021. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(j) | Level 3 security. See Note 1(a) of the accompanying Notes to Statements of Investments. |
(k) | Non-Income Producing Security. |
(l) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
BRL | Brazilian Real |
CLP | Chilean Peso |
CZK | Czech Koruna |
EGP | Egyptian Pound |
EUR | Euro Currency |
IDR | Indonesian Rupiah |
INR | Indian Rupee |
MXN | Mexican Peso |
PLC | Public Limited Company |
PLN | Polish Zloty |
RUB | Russian Ruble |
USD | U.S. Dollar |
UYU | Uruguayan Peso |
ZAR | South African Rand |
At July 31, 2021, the Fund's open forward foreign currency exchange contracts were as follows: |
Purchase Contracts Settlement Date* | Counterparty | Amount Purchased | Amount Sold | Fair Value | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Brazilian Real/United States Dollar | ||||||||||||||||||
08/25/2021 | UBS AG | BRL | 4,737,000 | USD | 897,550 | $ | 906,865 | $ | 9,315 | |||||||||
Indian Rupee/United States Dollar | ||||||||||||||||||
08/25/2021 | UBS AG | INR | 42,578,000 | USD | 578,397 | 571,402 | (6,995 | ) | ||||||||||
Indonesian Rupiah/United States Dollar | ||||||||||||||||||
08/25/2021 | UBS AG | IDR | 6,714,121,000 | USD | 465,450 | 464,698 | (752 | ) | ||||||||||
Mexican Peso/United States Dollar | ||||||||||||||||||
10/13/2021 | UBS AG | MXN | 17,500,000 | USD | 867,782 | 870,718 | 2,936 | |||||||||||
New Russian Ruble/United States Dollar | ||||||||||||||||||
10/13/2021 | UBS AG | RUB | 34,524,000 | USD | 452,971 | 466,635 | 13,664 | |||||||||||
$ | 3,280,318 | $ | 18,168 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen Emerging Markets Debt Fund
Sale Contracts Settlement Date* | Counterparty | Amount Purchased | Amount Sold | Fair Value | Unrealized Appreciation/ (Depreciation) | |||||||||||||
United States Dollar/Brazilian Real | ||||||||||||||||||
08/25/2021 | Barclays Bank plc | USD | 2,490,080 | BRL | 13,304,000 | $ | 2,546,957 | $ | (56,877 | ) | ||||||||
United States Dollar/Crech Koruna | ||||||||||||||||||
10/13/2021 | UBS AG | USD | 3,024 | CZK | 66,000 | 3,068 | (44 | ) | ||||||||||
United States Dollar/Euro | ||||||||||||||||||
10/13/2021 | Deutsche Bank AG | USD | 94,578 | EUR | 80,000 | 95,032 | (454 | ) | ||||||||||
10/13/2021 | JPMorgan Chase Bank N.A. | USD | 3,620,473 | EUR | 3,055,000 | 3,629,033 | (8,560 | ) | ||||||||||
10/13/2021 | Royal Bank Of Canada | USD | 236,528 | EUR | 199,000 | 236,392 | 136 | |||||||||||
10/13/2021 | UBS AG | USD | 406,163 | EUR | 343,000 | 407,449 | (1,286 | ) | ||||||||||
United States Dollar/Mexican Peso | ||||||||||||||||||
10/13/2021 | Deutsche Bank AG | USD | 953,105 | MXN | 19,353,000 | 962,914 | (9,809 | ) | ||||||||||
United States Dollar/New Russian Ruble | ||||||||||||||||||
08/25/2021 | Barclays Bank plc | USD | 1,023,709 | RUB | 76,102,000 | 1,038,266 | (14,557 | ) | ||||||||||
United States Dollar/Polish Zloty | ||||||||||||||||||
10/13/2021 | UBS AG | USD | 469,945 | PLN | 1,803,000 | 468,156 | 1,789 | |||||||||||
United States Dollar/South African Rand | ||||||||||||||||||
10/13/2021 | UBS AG | USD | 791,455 | ZAR | 11,525,000 | 779,662 | 11,793 | |||||||||||
$ | 10,166,929 | $ | (77,869 | ) |
* | Certain contracts with different trade dates and like characteristics have been shown net. |
See accompanying Notes to Statements of Investments.
Statement of Investments |
July 31, 2021 (Unaudited) |
Aberdeen Global Absolute Return Strategies Fund |
Shares or Principal Amount | Value (US$) | |||||||
COMMON STOCKS (23.3%) | ||||||||
AUSTRALIA (0.4%) | ||||||||
Materials (0.4%) | ||||||||
BHP Group Ltd. | 367 | 14,415 | ||||||
Glencore PLC | 8,737 | 39,239 | ||||||
MMG Ltd.(a) | 16,000 | 8,159 | ||||||
Pilbara Minerals Ltd.(a) | 13,863 | 18,039 | ||||||
79,852 | ||||||||
BELGIUM (0.1%) | ||||||||
Materials (0.1%) | ||||||||
Umicore SA | 411 | 25,509 | ||||||
CANADA (1.0%) | ||||||||
Industrials (0.4%) | ||||||||
Canadian National Railway Co. | 762 | 82,796 | ||||||
Materials (0.6%) | ||||||||
Canfor Corp.(a) | 2,075 | 40,066 | ||||||
First Quantum Minerals Ltd. | 620 | 13,279 | ||||||
Nutrien Ltd. | 709 | 42,156 | ||||||
West Fraser Timber Co. Ltd. | 640 | 45,907 | ||||||
141,408 | ||||||||
224,204 | ||||||||
CHILE (0.0%) | ||||||||
Materials (0.0%) | ||||||||
Antofagasta PLC | 523 | 10,859 | ||||||
CHINA (0.4%) | ||||||||
Financials (0.3%) | ||||||||
China Construction Bank Corp., Class H | 106,000 | 73,833 | ||||||
Materials (0.1%) | ||||||||
China Molybdenum Co. Ltd. H Shares | 21,000 | 15,371 | ||||||
89,204 | ||||||||
FINLAND (0.2%) | ||||||||
Industrials (0.2%) | ||||||||
Valmet OYJ | 1,076 | 44,905 | ||||||
FRANCE (1.3%) | ||||||||
Consumer Discretionary (0.1%) | ||||||||
LVMH Moet Hennessy Louis Vuitton SE | 15 | 12,010 | ||||||
Consumer Staples (0.4%) | ||||||||
L'Oreal SA | 181 | 82,806 | ||||||
Health Care (0.4%) | ||||||||
EssilorLuxottica SA | 70 | 13,215 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued) |
July 31, 2021 (Unaudited) |
Aberdeen Global Absolute Return Strategies Fund |
Sanofi | 782 | 80,603 | ||||||
93,818 | ||||||||
Industrials (0.3%) | ||||||||
Schneider Electric SE | 363 | 60,798 | ||||||
Vinci SA | 107 | 11,329 | ||||||
72,127 | ||||||||
Materials (0.1%) | ||||||||
Eramet SA(a) | 251 | 20,072 | ||||||
280,833 | ||||||||
GERMANY (1.0%) | ||||||||
Consumer Discretionary (0.4%) | ||||||||
Adidas AG | 35 | 12,703 | ||||||
Bayerische Motoren Werke AG | 324 | 32,216 | ||||||
Daimler AG | 131 | 11,690 | ||||||
HelloFresh SE(a) | 438 | 41,058 | ||||||
97,667 | ||||||||
Industrials (0.5%) | ||||||||
Brenntag SE | 486 | 48,542 | ||||||
KION Group AG | 527 | 55,964 | ||||||
104,506 | ||||||||
Materials (0.1%) | ||||||||
BASF SE | 303 | 23,809 | ||||||
225,982 | ||||||||
HONG KONG (0.1%) | ||||||||
Consumer Discretionary (0.1%) | ||||||||
Galaxy Entertainment Group Ltd.(a) | 2,000 | 13,554 | ||||||
Industrials (0.0%) | ||||||||
Jardine Matheson Holdings Ltd. | 200 | 11,899 | ||||||
25,453 | ||||||||
JAPAN (1.3%) | ||||||||
Consumer Discretionary (0.2%) | ||||||||
Denso Corp. | 300 | 20,610 | ||||||
Panasonic Corp. | 2,100 | 25,358 | ||||||
45,968 | ||||||||
Industrials (0.4%) | ||||||||
Ebara Corp. | 900 | 44,518 | ||||||
Kawasaki Heavy Industries Ltd.(a) | 2,400 | 50,374 | ||||||
94,892 | ||||||||
Information Technology (0.5%) | ||||||||
Seiko Epson Corp. | 3,200 | 55,059 | ||||||
Tokyo Electron Ltd. | 100 | 41,242 | ||||||
96,301 | ||||||||
Materials (0.2%) | ||||||||
Mitsubishi Chemical Holdings Corp. | 3,000 | 25,173 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued) |
July 31, 2021 (Unaudited) |
Aberdeen Global Absolute Return Strategies Fund |
Sumitomo Chemical Co. Ltd. | 4,500 | 23,425 | ||||||
48,598 | ||||||||
285,759 | ||||||||
MALAYSIA (0.1%) | ||||||||
Materials (0.1%) | ||||||||
Lynas Rare Earths Ltd.(a) | 3,128 | 16,907 | ||||||
NETHERLANDS (0.5%) | ||||||||
Consumer Staples (0.1%) | ||||||||
Heineken NV | 105 | 12,227 | ||||||
Energy (0.1%) | ||||||||
Royal Dutch Shell PLC, A Shares | 1,197 | 24,061 | ||||||
Information Technology (0.2%) | ||||||||
ASML Holding NV | 85 | 64,973 | ||||||
Materials (0.1%) | ||||||||
AMG Advanced Metallurgical Group NV | 429 | 13,418 | ||||||
114,679 | ||||||||
RUSSIA (0.1%) | ||||||||
Materials (0.1%) | ||||||||
MMC Norilsk Nickel PJSC, ADR | 407 | 14,042 | ||||||
SOUTH AFRICA (0.0%) | ||||||||
Energy (0.0%) | ||||||||
Thungela Resources Ltd.(a) | 31 | 96 | ||||||
SOUTH KOREA (0.4%) | ||||||||
Consumer Discretionary (0.2%) | ||||||||
Hyundai Motor Co. | 175 | 33,305 | ||||||
Information Technology (0.1%) | ||||||||
Samsung Electronics Co. Ltd. | 340 | 23,235 | ||||||
Materials (0.1%) | ||||||||
LG Chem Ltd. | 34 | 24,973 | ||||||
81,513 | ||||||||
SWEDEN (0.1%) | ||||||||
Consumer Discretionary (0.1%) | ||||||||
Autoliv, Inc. | 237 | 23,909 | ||||||
SWITZERLAND (1.1%) | ||||||||
Consumer Staples (0.4%) | ||||||||
Nestle SA | 631 | 79,903 | ||||||
Health Care (0.4%) | ||||||||
Roche Holding AG | 228 | 88,079 | ||||||
Industrials (0.3%) | ||||||||
ABB Ltd. | 1,674 | 61,199 | ||||||
229,181 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued) |
July 31, 2021 (Unaudited) |
Aberdeen Global Absolute Return Strategies Fund |
UNITED KINGDOM (0.6%) | ||||||||
Industrials (0.4%) | ||||||||
CNH Industrial NV | 2,603 | 43,464 | ||||||
Pentair PLC | 673 | 49,580 | ||||||
93,044 | ||||||||
Materials (0.2%) | ||||||||
Anglo American PLC | 312 | 13,826 | ||||||
Johnson Matthey PLC | 562 | 23,230 | ||||||
37,056 | ||||||||
130,100 | ||||||||
UNITED STATES (14.6%) | ||||||||
Communication Services (0.9%) | ||||||||
Alphabet, Inc., Class A(a) | 5 | 13,473 | ||||||
AT&T, Inc. | 2,896 | 81,233 | ||||||
Twitter, Inc.(a) | 206 | 14,368 | ||||||
Verizon Communications, Inc. | 1,473 | 82,164 | ||||||
191,238 | ||||||||
Consumer Discretionary (0.8%) | ||||||||
BorgWarner, Inc. | 474 | 23,216 | ||||||
Ford Motor Co.(a) | 842 | 11,746 | ||||||
Harley-Davidson, Inc. | 523 | 20,721 | ||||||
McDonald's Corp. | 53 | 12,864 | ||||||
Starbucks Corp. | 111 | 13,479 | ||||||
Target Corp. | 355 | 92,673 | ||||||
TJX Cos., Inc. (The) | 192 | 13,211 | ||||||
187,910 | ||||||||
Consumer Staples (2.8%) | ||||||||
Archer-Daniels-Midland Co. | 690 | 41,207 | ||||||
Bunge Ltd. | 545 | 42,308 | ||||||
Costco Wholesale Corp. | 220 | 94,538 | ||||||
CVS Health Corp. | 995 | 81,948 | ||||||
Kroger Co. | 1,178 | 47,945 | ||||||
Mondelez International, Inc., Class A | 1,321 | 83,567 | ||||||
Procter & Gamble Co. (The) | 624 | 88,752 | ||||||
Sprouts Farmers Market, Inc.(a) | 1,565 | 38,468 | ||||||
Walmart, Inc. | 599 | 85,387 | ||||||
604,120 | ||||||||
Financials (0.8%) | ||||||||
Intercontinental Exchange, Inc. | 740 | 88,674 | ||||||
Marsh & McLennan Cos., Inc. | 603 | 88,774 | ||||||
177,448 | ||||||||
Health Care (1.8%) | ||||||||
Abbott Laboratories | 762 | 92,187 | ||||||
Boston Scientific Corp.(a) | 294 | 13,406 | ||||||
Johnson & Johnson | 509 | 87,650 | ||||||
Medtronic PLC | 101 | 13,262 | ||||||
Merck & Co., Inc. | 1,116 | 85,787 | ||||||
Regeneron Pharmaceuticals, Inc.(a) | 24 | 13,791 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued) |
July 31, 2021 (Unaudited) |
Aberdeen Global Absolute Return Strategies Fund |
UnitedHealth Group, Inc. | 211 | 86,978 | ||||||
393,061 | ||||||||
Industrials (2.7%) | ||||||||
AGCO Corp. | 356 | 47,031 | ||||||
AMETEK, Inc. | 430 | 59,791 | ||||||
AO Smith Corp. | 654 | 45,996 | ||||||
Boeing Co.(a) | 51 | 11,550 | ||||||
Danaher Corp. | 51 | 15,172 | ||||||
Deere & Co. | 134 | 48,453 | ||||||
Eaton Corp. PLC | 86 | 13,592 | ||||||
EMCOR Group, Inc. | 400 | 48,724 | ||||||
Emerson Electric Co. | 600 | 60,534 | ||||||
Ferguson PLC | 322 | 45,141 | ||||||
MasTec, Inc.(a) | 394 | 39,885 | ||||||
Middleby Corp.(a) | 271 | 51,894 | ||||||
PACCAR, Inc. | 138 | 11,453 | ||||||
Trane Technologies PLC | 246 | 50,088 | ||||||
Watts Water Technologies, Inc., Class A | 317 | 47,791 | ||||||
597,095 | ||||||||
Information Technology (3.3%) | ||||||||
Accenture PLC, Class A | 295 | 93,715 | ||||||
Adobe, Inc.(a) | 153 | 95,109 | ||||||
Cisco Systems, Inc. | 1,480 | 81,948 | ||||||
Fiserv, Inc.(a) | 115 | 13,238 | ||||||
Global Payments, Inc. | 65 | 12,572 | ||||||
HP, Inc. | 1,951 | 56,325 | ||||||
Lam Research Corp. | 91 | 58,004 | ||||||
Maxim Integrated Products, Inc.(a) | 236 | 23,579 | ||||||
Microsoft Corp. | 324 | 92,311 | ||||||
MKS Instruments, Inc. | 321 | 50,217 | ||||||
TE Connectivity Ltd. | 91 | 13,420 | ||||||
Trimble, Inc.(a) | 748 | 63,954 | ||||||
Zebra Technologies Corp., Class A(a) | 116 | 64,088 | ||||||
718,480 | ||||||||
Materials (1.0%) | ||||||||
Avery Dennison Corp. | 211 | 44,453 | ||||||
CF Industries Holdings, Inc. | 854 | 40,352 | ||||||
Freeport-McMoRan, Inc. | 623 | 23,736 | ||||||
International Paper Co. | 722 | 41,703 | ||||||
Linde PLC | 43 | 13,218 | ||||||
O-I Glass, Inc.(a) | 2,390 | 35,348 | ||||||
Tronox Holdings PLC, Class A | 693 | 12,772 | ||||||
211,582 | ||||||||
Real Estate (0.1%) | ||||||||
Equinix, Inc., REIT | 15 | 12,306 | ||||||
Utilities (0.4%) | ||||||||
NextEra Energy, Inc. | 1,149 | 89,507 | ||||||
3,182,747 | ||||||||
Total Common Stocks | 5,085,734 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued) |
July 31, 2021 (Unaudited) |
Aberdeen Global Absolute Return Strategies Fund |
GOVERNMENT BONDS (4.1%) | ||||||||
SOUTH AFRICA (4.1%) | ||||||||
Republic of South Africa Government Bond | ||||||||
Series R186 (ZAR), 10.50%, 12/21/2026 | 3,812,000 | 296,452 | ||||||
Series 2030 (ZAR), 8.00%, 01/31/2030 | 4,588,000 | 297,889 | ||||||
Series 2032 (ZAR), 8.25%, 03/31/2032 | 4,913,000 | 306,077 | ||||||
900,418 | ||||||||
Total Government Bonds | 900,418 | |||||||
PREFERRED STOCKS (0.1%) | ||||||||
CHILE (0.1%) | ||||||||
Materials (0.1%) | ||||||||
Sociedad Quimica y Minera de Chile SA, ADR, Preferred Shares | 248 | 11,780 | ||||||
Total Preferred Stocks | 11,780 | |||||||
Total Purchased Options (see detail below) | 37,165 | |||||||
SHORT-TERM INVESTMENT (71.1%) | ||||||||
CERTIFICATES OF DEPOSIT (22.2%) | ||||||||
CANADA (3.7%) | ||||||||
Bank Of Montreal (USD), 0.01%, 08/02/2021 | 807,300 | 807,300 | ||||||
FRANCE (3.7%) | ||||||||
Societe Generale SA (USD), 0.03%, 08/02/2021 | 800,572 | 800,572 | ||||||
NETHERLANDS (7.4%) | ||||||||
ING Bank NV (USD), 0.01%, 08/02/2021 | 803,647 | 803,647 | ||||||
Rabobank Nederland NV (USD), 0.01%, 08/02/2021 | 808,215 | 808,215 | ||||||
1,611,862 | ||||||||
UNITED KINGDOM (7.4%) | ||||||||
BNP Paribas (USD), 0.03%, 08/02/2021 | 809,138 | 809,138 | ||||||
Credit Agricole SA (USD), 0.02%, 08/02/2021 | 804,147 | 804,147 | ||||||
1,613,285 | ||||||||
Total Certificates of Deposit | 4,833,019 | |||||||
MONEY MARKET FUNDS (9.8%) | ||||||||
UNITED STATES (9.8%) | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(b) | 2,139,449 | 2,139,449 | ||||||
Total Money Market Funds | 2,139,449 | |||||||
U.S. TREASURIES (39.1%) | ||||||||
U.S. Treasury Bill | ||||||||
(USD), 0.03%, 08/05/2021 (c)(d) | 4,500,000 | 4,499,989 | ||||||
(USD), 0.02%, 09/09/2021 (c) | 1,000,000 | 999,953 | ||||||
(USD), 0.03%, 10/07/2021 (c) | 1,500,000 | 1,499,862 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued) |
July 31, 2021 (Unaudited) |
Aberdeen Global Absolute Return Strategies Fund |
(USD), 0.02%, 11/04/2021 (c) | 1,500,000 | 1,499,804 | ||||||
8,499,608 | ||||||||
Total U.S. Treasuries | 8,499,608 | |||||||
Total Short-Term Investment | 15,472,076 | |||||||
Total Investments (Cost $21,347,736) —98.8% | 21,507,173 | |||||||
Other Assets in Excess of Liabilities—1.2% | 256,765 | |||||||
Net Assets—100.0% | $ | 21,763,938 |
(a) | Non-income producing security. |
(b) | Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021. |
(c) | The rate shown is the discount yield at the time of purchase. |
(d) | All or a portion of the security has been designated as collateral for swap contracts. |
ADR | American Depositary Receipt |
AUD | Australian Dollar |
BRL | Brazilian Real |
CAD | Canadian Dollar |
CHF | Swiss Franc |
CNY | Chinese Yuan Renminbi |
COP | Colombian Peso |
EUR | Euro Currency |
GBP | British Pound Sterling |
HKD | Hong Kong Dollar |
HUF | Hungarian Forint |
IDR | Indonesian Rupiah |
INR | Indian Rupee |
JPY | Japanese Yen |
KRW | South Korean Won |
MXN | Mexican Peso |
MYR | Malaysian Ringgit |
NZD | New Zealand Dollar |
PEN | Peruvian Sol |
PLC | Public Limited Company |
REIT | Real Estate Investment Trust |
RON | Romanian Leu |
RUB | Russian Ruble |
SEK | Swedish Krona |
THB | Thai Baht |
TWD | New Taiwan Dollar |
USD | U.S. Dollar |
ZAR | South African Rand |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Global Absolute Return Strategies Fund
At July 31, 2021, the Fund held the following futures contracts: | ||||||||||||||||||
Futures Contracts | Number of Contracts Long/(Short) | Expiration Date | Notional Amount | Market Value | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Long Contract Positions | ||||||||||||||||||
United States Treasury Note 6%–Ultra Bond | 3 | 09/21/2021 | $ | 566,524 | $ | 598,594 | $ | 32,070 | ||||||||||
Short Contract Positions | ||||||||||||||||||
E-Mini Russell 2000 Future | (9 | ) | 09/17/2021 | $ | (957,975 | ) | $ | (999,720 | ) | $ | (41,745 | ) | ||||||
Euro STOXX 50 Future | (2 | ) | 09/17/2021 | (92,697 | ) | (96,988 | ) | (4,291 | ) | |||||||||
Nikkei 225 Future | (1 | ) | 09/09/2021 | (247,297 | ) | (249,305 | ) | (2,008 | ) | |||||||||
United States Treasury Note 6%–10 year Ultra | (8 | ) | 09/21/2021 | (1,156,987 | ) | (1,202,000 | ) | (45,013 | ) | |||||||||
$ | (93,057 | ) | ||||||||||||||||
$ | (60,987 | ) |
At July 31, 2021, the Fund's open forward foreign currency exchange contracts were as follows:
Purchase Contracts Settlement Date* | Counterparty | Amount Purchased | Amount Sold | Fair Value | Unrealized Appreciation/ (Depreciation) | |||||||||||||
Australian Dollar/United States Dollar | ||||||||||||||||||
08/10/2021 | Citibank N.A. | AUD | 987,240 | USD | 761,300 | $ | 724,503 | $ | (36,797 | ) | ||||||||
08/11/2021 | Citibank N.A. | AUD | 11,599 | USD | 8,985 | 8,512 | (473 | ) | ||||||||||
08/11/2021 | Royal Bank of Canada | AUD | 10,546 | USD | 8,163 | 7,740 | (423 | ) | ||||||||||
08/13/2021 | Citibank N.A. | AUD | 519,000 | USD | 389,273 | 380,882 | (8,391 | ) | ||||||||||
Brazilian Real/United States Dollar | ||||||||||||||||||
08/11/2021 | Goldman Sachs & Co. | BRL | 1,370,000 | USD | 258,661 | 262,790 | 4,129 | |||||||||||
08/11/2021 | Royal Bank of Canada | BRL | 1,847,000 | USD | 367,095 | 354,288 | (12,807 | ) | ||||||||||
10/15/2021 | Citibank N.A. | BRL | 1,267,000 | USD | 237,198 | 240,913 | 3,715 | |||||||||||
British Pound/United States Dollar | ||||||||||||||||||
08/13/2021 | Barclays Bank plc | GBP | 54,000 | USD | 76,573 | 75,061 | (1,512 | ) | ||||||||||
08/13/2021 | Citibank N.A. | GBP | 39,000 | USD | 54,223 | 54,211 | (12 | ) | ||||||||||
08/13/2021 | HSBC Bank plc | GBP | 45,000 | USD | 62,923 | 62,551 | (372 | ) | ||||||||||
08/13/2021 | JPMorgan Chase Bank N.A. | GBP | 54,000 | USD | 74,440 | 75,061 | 621 | |||||||||||
08/13/2021 | Royal Bank of Canada | GBP | 56,000 | USD | 79,438 | 77,842 | (1,596 | ) | ||||||||||
Canadian Dollar/United States Dollar | ||||||||||||||||||
08/13/2021 | Royal Bank of Canada | CAD | 484,000 | USD | 391,261 | 387,944 | (3,317 | ) | ||||||||||
Colombian Peso/United States Dollar | ||||||||||||||||||
08/11/2021 | Citibank N.A. | COP | 374,880,000 | USD | 100,615 | 96,632 | (3,983 | ) | ||||||||||
08/11/2021 | Goldman Sachs & Co. | COP | 1,333,000,000 | USD | 353,570 | 343,604 | (9,966 | ) | ||||||||||
08/11/2021 | Royal Bank of Canada | COP | 406,120,000 | USD | 108,937 | 104,684 | (4,253 | ) | ||||||||||
10/15/2021 | JPMorgan Chase Bank N.A. | COP | 549,000,000 | USD | 141,657 | 141,082 | (575 | ) | ||||||||||
Crech Koruna/United States Dollar | ||||||||||||||||||
10/15/2021 | HSBC Bank plc | CZK | 1,285,000 | USD | 58,774 | 59,723 | 949 | |||||||||||
Euro/United States Dollar | ||||||||||||||||||
08/11/2021 | Citibank N.A. | EUR | 34,127 | USD | 41,566 | 40,489 | (1,077 | ) | ||||||||||
08/11/2021 | Royal Bank of Canada | EUR | 72,800 | USD | 88,857 | 86,372 | (2,485 | ) | ||||||||||
09/10/2021 | Barclays Bank plc | EUR | 61,000 | USD | 72,713 | 72,414 | (299 | ) | ||||||||||
09/10/2021 | Goldman Sachs & Co. | EUR | 230,000 | USD | 280,856 | 273,037 | (7,819 | ) | ||||||||||
09/10/2021 | HSBC Bank plc | EUR | 89,000 | USD | 105,700 | 105,653 | (47 | ) | ||||||||||
Hong Kong Dollar/United States Dollar | ||||||||||||||||||
08/11/2021 | Goldman Sachs & Co. | HKD | 169,758 | USD | 21,865 | 21,845 | (20 | ) | ||||||||||
08/11/2021 | HSBC Bank plc | HKD | 109,386 | USD | 14,099 | 14,076 | (23 | ) |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Global Absolute Return Strategies Fund
Hungarian Forint/United States Dollar | ||||||||||||||||||
10/15/2021 | HSBC Bank plc | HUF | 34,200,000 | USD | 112,864 | 112,938 | 74 | |||||||||||
Indian Rupee/United States Dollar | ||||||||||||||||||
08/11/2021 | Barclays Bank plc | INR | 7,990,000 | USD | 107,361 | 107,422 | 61 | |||||||||||
08/11/2021 | HSBC Bank plc | INR | 43,090,000 | USD | 572,967 | 579,325 | 6,358 | |||||||||||
08/13/2021 | Citibank N.A. | INR | 21,350,000 | USD | 289,034 | 286,966 | (2,068 | ) | ||||||||||
08/25/2021 | Citibank N.A. | INR | 20,496,000 | USD | 277,108 | 275,059 | (2,049 | ) | ||||||||||
09/01/2021 | HSBC Bank plc | INR | 20,905,920 | USD | 282,860 | 280,305 | (2,555 | ) | ||||||||||
09/09/2021 | Goldman Sachs & Co. | INR | 22,648,080 | USD | 307,089 | 303,392 | (3,697 | ) | ||||||||||
10/08/2021 | Citibank N.A. | INR | 7,380,000 | USD | 97,666 | 98,556 | 890 | |||||||||||
Indonesian Rupiah/United States Dollar | ||||||||||||||||||
08/11/2021 | Barclays Bank plc | IDR | 5,020,000,000 | USD | 346,457 | 348,102 | 1,645 | |||||||||||
08/11/2021 | JPMorgan Chase Bank N.A. | IDR | 3,340,000,000 | USD | 233,110 | 231,606 | (1,504 | ) | ||||||||||
09/17/2021 | Barclays Bank plc | IDR | 5,040,000,000 | USD | 346,418 | 347,880 | 1,462 | |||||||||||
09/17/2021 | HSBC Bank plc | IDR | 1,550,000,000 | USD | 106,795 | 106,987 | 192 | |||||||||||
10/15/2021 | HSBC Bank plc | IDR | 4,000,000,000 | USD | 271,536 | 275,238 | 3,702 | |||||||||||
Japanese Yen/United States Dollar | ||||||||||||||||||
08/11/2021 | Citibank N.A. | JPY | 11,569,756 | USD | 105,715 | 105,468 | (247 | ) | ||||||||||
08/11/2021 | Goldman Sachs & Co. | JPY | 473,062 | USD | 4,308 | 4,312 | 4 | |||||||||||
08/11/2021 | Royal Bank of Canada | JPY | 13,562,400 | USD | 123,726 | 123,633 | (93 | ) | ||||||||||
Malaysian Ringgit/United States Dollar | ||||||||||||||||||
10/15/2021 | Barclays Bank plc | MYR | 324,000 | USD | 77,152 | 76,549 | (603 | ) | ||||||||||
Mexican Peso/United States Dollar | ||||||||||||||||||
09/01/2021 | Goldman Sachs & Co. | MXN | 3,620,000 | USD | 179,567 | 181,174 | 1,607 | |||||||||||
09/13/2021 | Goldman Sachs & Co. | MXN | 3,430,000 | USD | 167,998 | 171,382 | 3,384 | |||||||||||
10/15/2021 | Citibank N.A. | MXN | 4,720,000 | USD | 232,289 | 234,777 | 2,488 | |||||||||||
New Russian Ruble/United States Dollar | ||||||||||||||||||
09/10/2021 | Barclays Bank plc | RUB | 4,200,000 | USD | 56,747 | 57,163 | 416 | |||||||||||
09/17/2021 | Barclays Bank plc | RUB | 25,300,000 | USD | 345,367 | 343,802 | (1,565 | ) | ||||||||||
09/17/2021 | Goldman Sachs & Co. | RUB | 8,080,000 | USD | 109,576 | 109,799 | 223 | |||||||||||
10/15/2021 | HSBC Bank plc | RUB | 9,500,000 | USD | 124,385 | 128,359 | 3,974 | |||||||||||
Peruvian Nouveau Sol/United States Dollar | ||||||||||||||||||
10/15/2021 | Citibank N.A. | PEN | 262,000 | USD | 66,113 | 64,536 | (1,577 | ) | ||||||||||
Romanian Leu/United States Dollar | ||||||||||||||||||
10/15/2021 | JPMorgan Chase Bank N.A. | RON | 382,000 | USD | 91,262 | 91,912 | 650 | |||||||||||
South African Rand/United States Dollar | ||||||||||||||||||
08/11/2021 | JPMorgan Chase Bank N.A. | ZAR | 3,750,000 | USD | 264,834 | 255,716 | (9,118 | ) | ||||||||||
08/11/2021 | Royal Bank of Canada | ZAR | 5,010,000 | USD | 353,526 | 341,636 | (11,890 | ) | ||||||||||
10/15/2021 | Citibank N.A. | ZAR | 2,540,000 | USD | 174,323 | 171,789 | (2,534 | ) | ||||||||||
South Korean Won/United States Dollar | ||||||||||||||||||
08/10/2021 | Citibank N.A. | KRW | 798,360,000 | USD | 709,830 | 692,630 | (17,200 | ) | ||||||||||
08/11/2021 | HSBC Bank plc | KRW | 660,000,000 | USD | 587,199 | 572,584 | (14,615 | ) | ||||||||||
Swiss Franc/United States Dollar | ||||||||||||||||||
08/11/2021 | HSBC Bank plc | CHF | 48,079 | USD | 53,730 | 53,088 | (642 | ) | ||||||||||
08/13/2021 | JPMorgan Chase Bank N.A. | CHF | 359,100 | USD | 388,949 | 396,528 | 7,579 | |||||||||||
Thai Baht/United States Dollar | ||||||||||||||||||
08/11/2021 | Citibank N.A. | THB | 2,203,904 | USD | 69,368 | 67,054 | (2,314 | ) | ||||||||||
08/11/2021 | Goldman Sachs & Co. | THB | 19,703,159 | USD | 629,997 | 599,470 | (30,527 | ) | ||||||||||
10/15/2021 | Goldman Sachs & Co. | THB | 4,930,000 | USD | 151,557 | 149,959 | (1,598 | ) | ||||||||||
$ | 12,419,005 | $ | (158,520 | ) |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Global Absolute Return Strategies Fund
Sale Contracts Settlement Date* | Counterparty | Amount Purchased | Amount Sold | Fair Value | Unrealized Appreciation/ (Depreciation) | |||||||||||||
United States Dollar/Australian Dollar | ||||||||||||||||||
08/10/2021 | Citibank N.A. | USD | 761,687 | AUD | 987,240 | $ | 724,503 | $ | 37,184 | |||||||||
08/11/2021 | JPMorgan Chase Bank N.A. | USD | 49,708 | AUD | 64,414 | 47,271 | 2,437 | |||||||||||
United States Dollar/Brazilian Real | ||||||||||||||||||
08/11/2021 | HSBC Bank plc | USD | 586,397 | BRL | 3,217,000 | 617,078 | (30,681 | ) | ||||||||||
United States Dollar/British Pound | ||||||||||||||||||
08/11/2021 | Citibank N.A. | USD | 102,482 | GBP | 73,201 | 101,752 | 730 | |||||||||||
08/11/2021 | Goldman Sachs & Co. | USD | 17,936 | GBP | 12,860 | 17,876 | 60 | |||||||||||
08/11/2021 | HSBC Bank plc | USD | 29,504 | GBP | 21,252 | 29,541 | (37 | ) | ||||||||||
08/13/2021 | HSBC Bank plc | USD | 66,692 | GBP | 48,000 | 66,721 | (29 | ) | ||||||||||
United States Dollar/Canadian Dollar | ||||||||||||||||||
08/11/2021 | Citibank N.A. | USD | 62,268 | CAD | 76,129 | 61,021 | 1,247 | |||||||||||
08/11/2021 | Goldman Sachs & Co. | USD | 6,283 | CAD | 7,611 | 6,101 | 182 | |||||||||||
08/11/2021 | JPMorgan Chase Bank N.A. | USD | 88,256 | CAD | 107,236 | 85,954 | 2,302 | |||||||||||
08/11/2021 | Royal Bank of Canada | USD | 70,891 | CAD | 87,139 | 69,846 | 1,045 | |||||||||||
United States Dollar/Chinese Renminbi | ||||||||||||||||||
09/10/2021 | HSBC Bank plc | USD | 677,573 | CNY | 4,400,000 | 679,031 | (1,458 | ) | ||||||||||
United States Dollar/Colombian Peso | ||||||||||||||||||
08/11/2021 | Royal Bank of Canada | USD | 548,348 | COP | 2,114,000,000 | 544,920 | 3,428 | |||||||||||
United States Dollar/Euro | ||||||||||||||||||
08/11/2021 | Barclays Bank plc | USD | 8,413 | EUR | 6,877 | 8,159 | 254 | |||||||||||
08/11/2021 | Citibank N.A. | USD | 23,589 | EUR | 19,367 | 22,978 | 611 | |||||||||||
08/11/2021 | Goldman Sachs & Co. | USD | 24,975 | EUR | 20,548 | 24,379 | 596 | |||||||||||
08/11/2021 | HSBC Bank plc | USD | 49,912 | EUR | 41,291 | 48,989 | 923 | |||||||||||
08/11/2021 | Royal Bank of Canada | USD | 711,313 | EUR | 589,466 | 699,356 | 11,957 | |||||||||||
09/10/2021 | Goldman Sachs & Co. | USD | 119,953 | EUR | 101,000 | 119,899 | 54 | |||||||||||
09/10/2021 | Royal Bank of Canada | USD | 830,467 | EUR | 680,000 | 807,239 | 23,228 | |||||||||||
United States Dollar/Hong Kong Dollar | ||||||||||||||||||
08/11/2021 | Goldman Sachs & Co. | USD | 179,200 | HKD | 1,391,633 | 179,080 | 120 | |||||||||||
United States Dollar/Indian Rupee | ||||||||||||||||||
08/11/2021 | Barclays Bank plc | USD | 232,351 | INR | 17,300,000 | 232,590 | (239 | ) | ||||||||||
United States Dollar/Indonesian Rupiah | ||||||||||||||||||
08/11/2021 | Citibank N.A. | USD | 572,450 | IDR | 8,360,000,000 | 579,708 | (7,258 | ) | ||||||||||
United States Dollar/Japanese Yen | ||||||||||||||||||
08/11/2021 | Citibank N.A. | USD | 23,408 | JPY | 2,549,241 | 23,239 | 169 | |||||||||||
08/11/2021 | Goldman Sachs & Co. | USD | 52,322 | JPY | 5,698,051 | 51,943 | 379 | |||||||||||
08/11/2021 | JPMorgan Chase Bank N.A. | USD | 12,057 | JPY | 1,334,118 | 12,162 | (105 | ) | ||||||||||
08/11/2021 | Royal Bank of Canada | USD | 2,980 | JPY | 326,345 | 2,975 | 5 | |||||||||||
08/12/2021 | Royal Bank of Canada | USD | 428,401 | JPY | 46,845,266 | 427,038 | 1,363 | |||||||||||
08/13/2021 | Citibank N.A. | USD | 292,049 | JPY | 32,300,000 | 294,447 | (2,398 | ) | ||||||||||
09/17/2021 | HSBC Bank plc | USD | 103,226 | JPY | 11,300,000 | 103,040 | 186 | |||||||||||
09/17/2021 | Royal Bank of Canada | USD | 351,179 | JPY | 38,700,000 | 352,889 | (1,710 | ) |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Global Absolute Return Strategies Fund
United States Dollar/Mexican Peso | ||||||||||||||||||
09/01/2021 | Goldman Sachs & Co. | USD | 173,412 | MXN | 3,620,000 | 181,174 | (7,762 | ) | ||||||||||
09/13/2021 | Goldman Sachs & Co. | USD | 164,073 | MXN | 3,430,000 | 171,382 | (7,309 | ) | ||||||||||
United States Dollar/New Russian Ruble | ||||||||||||||||||
09/10/2021 | Goldman Sachs & Co. | USD | 70,078 | RUB | 5,200,000 | 70,773 | (695 | ) | ||||||||||
United States Dollar/New Taiwan Dollar | ||||||||||||||||||
08/13/2021 | Royal Bank of Canada | USD | 295,489 | TWD | 8,100,000 | 290,412 | 5,077 | |||||||||||
08/25/2021 | HSBC Bank plc | USD | 284,210 | TWD | 7,776,000 | 278,661 | 5,549 | |||||||||||
09/01/2021 | Barclays Bank plc | USD | 289,810 | TWD | 7,931,520 | 284,154 | 5,656 | |||||||||||
09/09/2021 | JPMorgan Chase Bank N.A. | USD | 314,030 | TWD | 8,592,480 | 307,924 | 6,106 | |||||||||||
09/17/2021 | HSBC Bank plc | USD | 353,292 | TWD | 9,730,000 | 348,863 | 4,429 | |||||||||||
09/17/2021 | JPMorgan Chase Bank N.A. | USD | 107,065 | TWD | 2,990,000 | 107,205 | (140 | ) | ||||||||||
United States Dollar/New Zealand Dollar | ||||||||||||||||||
08/13/2021 | Goldman Sachs & Co. | USD | 292,235 | NZD | 418,640 | 291,655 | 580 | |||||||||||
United States Dollar/South African Rand | ||||||||||||||||||
08/11/2021 | HSBC Bank plc | USD | 1,532,772 | ZAR | 22,452,277 | 1,531,041 | 1,731 | |||||||||||
10/05/2021 | Barclays Bank plc | USD | 290,447 | ZAR | 4,194,600 | 284,037 | 6,410 | |||||||||||
United States Dollar/South Korean Won | ||||||||||||||||||
08/10/2021 | Citibank N.A. | USD | 713,650 | KRW | 798,360,000 | 692,630 | 21,020 | |||||||||||
08/11/2021 | HSBC Bank plc | USD | 269,618 | KRW | 300,801,935 | 260,961 | 8,657 | |||||||||||
08/11/2021 | Royal Bank of Canada | USD | 347,758 | KRW | 394,000,000 | 341,815 | 5,943 | |||||||||||
United States Dollar/Swedish Krona | ||||||||||||||||||
08/13/2021 | JPMorgan Chase Bank N.A. | USD | 292,340 | SEK | 2,487,700 | 289,018 | 3,322 | |||||||||||
United States Dollar/Swiss Franc | ||||||||||||||||||
08/11/2021 | Citibank N.A. | USD | 81,586 | CHF | 73,935 | 81,637 | (51 | ) | ||||||||||
08/11/2021 | Goldman Sachs & Co. | USD | 67,232 | CHF | 60,877 | 67,219 | 13 | |||||||||||
08/11/2021 | JPMorgan Chase Bank N.A. | USD | 103,809 | CHF | 94,309 | 104,134 | (325 | ) | ||||||||||
09/17/2021 | Barclays Bank plc | USD | 349,399 | CHF | 320,000 | 353,671 | (4,272 | ) | ||||||||||
09/17/2021 | Goldman Sachs & Co. | USD | 102,918 | CHF | 93,100 | 102,896 | 22 | |||||||||||
United States Dollar/Thai Baht | ||||||||||||||||||
08/11/2021 | Barclays Bank plc | USD | 346,794 | THB | 10,920,000 | 332,242 | 14,552 | |||||||||||
08/11/2021 | Goldman Sachs & Co. | USD | 131,756 | THB | 4,127,151 | 125,569 | 6,187 | |||||||||||
08/11/2021 | HSBC Bank plc | USD | 105,769 | THB | 3,292,800 | 100,184 | 5,585 | |||||||||||
08/11/2021 | JPMorgan Chase Bank N.A. | USD | 114,452 | THB | 3,567,200 | 108,532 | 5,920 | |||||||||||
$ | 14,149,514 | $ | 130,750 |
* Certain contracts with different trade dates and like characteristics have been shown net.
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Global Absolute Return Strategies Fund
At July 31, 2021, the Fund held the following centrally cleared credit default swaps:
Expiration Date | Notional Amount | Credit Index | Fixed Rate | Frequency of Payments Made | Premiums Paid (Received) | Value | Unrealized Appreciation/ (Depreciation) | |||||||||||||||
Buy Protection: | ||||||||||||||||||||||
06/20/2026 | 484,000 | CDX.NA.HY | Equal to (5.00)% | Quarterly | $ | (47,805 | ) | $ | (47,776 | ) | $ | 29 | ||||||||||
06/20/2026 | 1,033,385 | iTraxx Europe Crossover | Equal to (5.00)% | Quarterly | (150,118 | ) | (154,880 | ) | (4,762 | ) | ||||||||||||
06/20/2026 | 516,615 | iTraxx Europe Crossover | Equal to (5.00)% | Quarterly | (76,377 | ) | (77,429 | ) | (1,052 | ) | ||||||||||||
06/20/2026 | 240,000 | CDX.NA.HY | Equal to (5.00)% | Quarterly | (23,840 | ) | (23,690 | ) | 150 | |||||||||||||
$ | (298,140 | ) | $ | (303,775 | ) | $ | (5,635 | ) | ||||||||||||||
Sell Protection: | ||||||||||||||||||||||
06/20/2026 | 623,700 | iTraxx Europe Crossover | Equal to 5.00% | Quarterly | $ | 83,964 | $ | 93,478 | $ | 9,514 | ||||||||||||
06/20/2026 | 520,422 | iTraxx Europe Crossover | Equal to 5.00% | Quarterly | 70,233 | 77,999 | 7,766 | |||||||||||||||
06/20/2026 | 745,878 | iTraxx Europe Crossover | Equal to 5.00% | Quarterly | 100,929 | 111,790 | 10,861 | |||||||||||||||
06/20/2026 | 2,365,210 | CDX.NA.HY | Equal to 5.00% | Quarterly | 201,161 | 233,470 | 32,309 | |||||||||||||||
06/20/2026 | 1,964,000 | iTraxx Europe Crossover | Equal to 5.00% | Quarterly | 251,975 | 294,358 | 42,383 | |||||||||||||||
06/20/2026 | 652,000 | iTraxx Europe Sub Financials | Equal to 1.00% | Quarterly | (6,618 | ) | (231 | ) | 6,387 | |||||||||||||
$ | 701,644 | $ | 810,864 | $ | 109,220 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Global Absolute Return Strategies Fund
At July 31, 2021, the Fund held the following centrally cleared interest rate swaps:
Currency | Notional Amount | Expiration Date | Receive (Pay) Floating Rate | Floating Rate Index | Fixed Rate | Frequency of Payments Made | Premiums Paid (Received) | Value | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||||
GBP | 1,140,000 | 02/15/2026 | Receive | 12-month UK RPI | 3.42 | % | Annually | $ | 47,819 | $ | 51,814 | $ | 3,995 | ||||||||||||||||
EUR | 436,250 | 03/15/2026 | Receive | 12-month Euro CPI | 1.47 | % | Annually | — | 8,843 | 8,843 | |||||||||||||||||||
EUR | 268,603 | 03/15/2026 | Receive | 12-month Euro CPI | 1.43 | % | Annually | — | 6,093 | 6,093 | |||||||||||||||||||
EUR | 268,604 | 03/15/2026 | Receive | 12-month Euro CPI | 1.44 | % | Annually | — | 6,050 | 6,050 | |||||||||||||||||||
EUR | 402,905 | 03/15/2026 | Receive | 12-month Euro CPI | 1.44 | % | Annually | — | 9,075 | 9,075 | |||||||||||||||||||
EUR | 402,906 | 03/15/2026 | Receive | 12-month Euro CPI | 1.41 | % | Annually | — | 9,658 | 9,658 | |||||||||||||||||||
EUR | 402,906 | 03/15/2026 | Receive | 12-month Euro CPI | 1.41 | % | Annually | — | 9,723 | 9,723 | |||||||||||||||||||
EUR | 402,906 | 03/15/2026 | Receive | 12-month Euro CPI | 1.38 | % | Annually | — | 10,402 | 10,402 | |||||||||||||||||||
EUR | 402,906 | 03/15/2026 | Receive | 12-month Euro CPI | 1.38 | % | Annually | — | 10,467 | 10,467 | |||||||||||||||||||
EUR | 492,184 | 03/15/2026 | Receive | 12-month Euro CPI | 1.39 | % | Annually | — | 12,589 | 12,589 | |||||||||||||||||||
EUR | 492,185 | 03/15/2026 | Receive | 12-month Euro CPI | 1.38 | % | Annually | — | 12,825 | 12,825 | |||||||||||||||||||
EUR | 492,184 | 03/15/2026 | Receive | 12-month Euro CPI | 1.38 | % | Annually | — | 12,746 | 12,746 | |||||||||||||||||||
EUR | 492,185 | 03/15/2026 | Receive | 12-month Euro CPI | 1.37 | % | Annually | — | 13,062 | 13,062 | |||||||||||||||||||
EUR | 268,604 | 03/15/2026 | Receive | 12-month Euro CPI | 1.44 | % | Annually | — | 6,007 | 6,007 | |||||||||||||||||||
EUR | 492,184 | 03/15/2026 | Receive | 12-month Euro CPI | 1.33 | % | Annually | — | 14,403 | 14,403 | |||||||||||||||||||
EUR | 984,369 | 03/15/2026 | Receive | 12-month Euro CPI | 1.33 | % | Annually | — | 28,649 | 28,649 | |||||||||||||||||||
GBP | 355,000 | 11/15/2029 | Receive | 12-month UK RPI | 3.47 | % | Annually | (15,053 | ) | 7,790 | 22,843 | ||||||||||||||||||
GBP | 516,000 | 11/15/2029 | Receive | 12-month UK RPI | 3.47 | % | Annually | (16,912 | ) | 11,323 | 28,235 | ||||||||||||||||||
USD | 983,000 | 02/26/2031 | Receive | 12-month CPI | 2.28 | % | Annually | 50,400 | — | (50,400 | ) | ||||||||||||||||||
USD | 107,000 | 02/26/2031 | Receive | 12-month CPI | 2.28 | % | Annually | 2,907 | 5,304 | 2,397 | |||||||||||||||||||
USD | 60,000 | 03/02/2031 | Receive | 12-month CPI | 2.22 | % | Annually | 3,500 | 3,387 | (113 | ) | ||||||||||||||||||
USD | 35,500 | 09/02/2050 | Receive | 12-month CPI | 2.06 | % | Annually | — | 5,671 | 5,671 | |||||||||||||||||||
USD | 35,500 | 09/02/2050 | Receive | 12-month CPI | 2.06 | % | Annually | — | 5,703 | 5,703 | |||||||||||||||||||
EUR | 685,000 | 06/25/2051 | Receive | 6-month EURIBOR | 0.46 | % | Semiannually | — | (48,099 | ) | (48,099 | ) | |||||||||||||||||
EUR | 685,000 | 06/25/2051 | Receive | 6-month EURIBOR | 0.46 | % | Semiannually | — | (48,947 | ) | (48,947 | ) | |||||||||||||||||
$ | 72,661 | $ | 164,538 | $ | 91,877 | ||||||||||||||||||||||||
GBP | 1,865,000 | 01/15/2026 | Pay | 12-month UK RPI | 3.35 | % | Annually | $ | — | $ | (95,404 | ) | $ | (95,404 | ) | ||||||||||||||
GBP | 1,865,000 | 01/15/2026 | Pay | 12-month UK RPI | 3.35 | % | Annually | — | (96,676 | ) | (96,676 | ) | |||||||||||||||||
GBP | 1,450,000 | 02/15/2026 | Pay | 12-month UK RPI | 3.42 | % | Annually | — | (65,903 | ) | (65,903 | ) | |||||||||||||||||
EUR | 38,950 | 03/15/2026 | Pay | 12-month Euro CPI | 1.43 | % | Annually | (506 | ) | (884 | ) | (378 | ) | ||||||||||||||||
EUR | 15,580 | 03/15/2026 | Pay | 12-month Euro CPI | 1.43 | % | Annually | (197 | ) | (353 | ) | (156 | ) | ||||||||||||||||
EUR | 23,370 | 03/15/2026 | Pay | 12-month Euro CPI | 1.43 | % | Annually | (298 | ) | (530 | ) | (232 | ) |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Global Absolute Return Strategies Fund
GBP | 2,790,000 | 11/15/2029 | Pay | 12-month UK RPI | 3.47 | % | Annually | — | (61,224 | ) | (61,224 | ) | |||||||||||||||||
USD | 1,090,000 | 02/26/2031 | Pay | 12-month CPI | 2.28 | % | Annually | — | (54,034 | ) | (54,034 | ) | |||||||||||||||||
USD | 1,090,000 | 03/02/2031 | Pay | 12-month CPI | 2.22 | % | Annually | — | (61,526 | ) | (61,526 | ) | |||||||||||||||||
EUR | 2,025,000 | 06/25/2031 | Pay | 6-month EURIBOR | 0.10 | % | Semiannually | — | 43,952 | 43,952 | |||||||||||||||||||
EUR | 2,025,000 | 06/25/2031 | Pay | 6-month EURIBOR | 0.10 | % | Semiannually | — | 42,602 | 42,602 | |||||||||||||||||||
USD | 35,500 | 09/02/2050 | Pay | 12-month CPI | 2.06 | % | Annually | 991 | (5,671 | ) | (6,662 | ) | |||||||||||||||||
USD | 35,500 | 09/02/2050 | Pay | 12-month CPI | 2.06 | % | Annually | 955 | (5,703 | ) | (6,658 | ) | |||||||||||||||||
$ | 945 | $ | (361,354 | ) | $ | (362,299 | ) | ||||||||||||||||||||||
$ | 73,606 | $ | (196,816 | ) | $ | (270,422 | ) |
At July 31, 2021, the Fund held the following over-the-counter total return swaps:
Currency | Notional Amount | Expiration Date | Receive (Pay) Total Return of Equity Index | Equity Secuirty | Floating Rate Index | Frequency of Payments Made | Value | Unrealized Appreciation/ (Depriciation) | |||||||||||||||
USD | 318,763 | 10/25/2021 | Pay | MSCI China A Index | 1-month LIBOR | Monthly | $ | (13,012 | ) | $ | (13,012 | ) | |||||||||||
USD | 356,457 | 09/17/2021 | Pay | MSCI China A Index | 1-month LIBOR | Monthly | (13,459 | ) | (13,459 | ) | |||||||||||||
(26,471 | ) |
At July 31, 2021, the Fund held the following purchased options:
Description | Expiration Date | Exercise Price | Contracts | Notional Amount | Cost | Value | Unrealized Value | |||||||||||||||||||
CALL OPTIONS PURCHASED (0.1%) | ||||||||||||||||||||||||||
Index Options (0.1%) | ||||||||||||||||||||||||||
CBOE Volatility Index | 09/15/2021 | 25 | 3 | 7,500 | 1,055 | 825 | (230 | ) | ||||||||||||||||||
CBOE Volatility Index 1 | 10/20/2021 | 19 | 21 | 39,900 | 10,920 | 11,550 | 630 | |||||||||||||||||||
CBOE Volatility Index 2 | 10/20/2021 | 25 | 2 | 5,000 | 647 | 700 | 53 | |||||||||||||||||||
CBOE Volatility Index 3 | 11/17/2021 | 26 | 3 | 7,800 | 1,034 | 1,041 | 7 | |||||||||||||||||||
EURO STOXX 50 | 09/17/2021 | 4,220 | 237 | 1,000,140 | 17,149 | 8,382 | (8,766 | ) | ||||||||||||||||||
EURO STOXX 50 1 | 09/17/2021 | 4,342 | 233 | 1,011,686 | 9,128 | 1,782 | (7,346 | ) | ||||||||||||||||||
$ | 24,280 | $ | (15,652 | ) |
PUT OPTIONS PURCHASED (0.1%) | ||||||||||||||||||||||||||
Index Options (0.1%) | ||||||||||||||||||||||||||
FTSE CHINA A50 | 10/25/2021 | 14,814 | 137 | 2,029,518 | 4,492 | 4,506 | 14 | |||||||||||||||||||
FTSE CHINA A50 1 | 09/17/2021 | 14,611 | 155 | 2,264,705 | 8,319 | 8,379 | 60 | |||||||||||||||||||
$ | 12,885 | $ | 74 |
At July 31, 2021, the Fund held the following written options:
Description | Notional Amount | Cost | Value | Unrealized Value | |||||||||||
CALL OPTIONS WRITTEN (0.2%) | |||||||||||||||
Swaptions (0.2%) | |||||||||||||||
10 year Interest Rate Swap Call, expiring 11/5/2021, Pay 0.45%, Receive 3-month LIBOR | (1,235,000 | ) | (5,558 | ) | (11,215 | ) | (5,657 | ) |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen Global Absolute Return Strategies Fund
10-year Interest Rate Swap Call, expiring 10/18/2021, Pay 0.53%, Receive 3-month LIBOR | (1,245,000 | ) | (6,598 | ) | (10,196 | ) | (3,598 | ) | ||||||||
10-year Interest Rate Swap Call, expiring 10/18/2021, Pay 0.54%, Receive 3-month LIBOR | (1,245,000 | ) | (6,723 | ) | (10,196 | ) | (3,473 | ) | ||||||||
$ | (31,607 | ) | $ | (12,728 | ) |
PUT OPTIONS WRITTEN (0.1%) | |||||||||||||||||||||||||
Description | Expiration Date | Exercise Price | Contracts | Notional Amount | Cost | Value | Unrealized Value | ||||||||||||||||||
Index Options (0.1%) | |||||||||||||||||||||||||
CAC 40 Index | 09/17/2021 | 6,100 | (2 | ) | (122,000 | ) | (1,056 | ) | (1,252 | ) | (196 | ) | |||||||||||||
DAX Index | 09/17/2021 | 14,450 | (1 | ) | (72,250 | ) | (640 | ) | (764 | ) | (124 | ) | |||||||||||||
FTSE 100 Index | 09/17/2021 | 6,550 | (1 | ) | (65,500 | ) | (641 | ) | (771 | ) | (130 | ) | |||||||||||||
NASDAQ 100 | 09/17/2021 | 11,793 | (83 | ) | (978,819 | ) | (9,156 | ) | (2,050 | ) | 7,106 | ||||||||||||||
NASDAQ 100 1 | 09/17/2021 | 11,596 | (86 | ) | (997,256 | ) | (17,214 | ) | (1,833 | ) | 15,381 | ||||||||||||||
NIKKEI 225 | 09/10/2021 | 25,500 | (1 | ) | (25,500,000 | ) | (1,814 | ) | (2,416 | ) | (602 | ) | |||||||||||||
S&P 500 Index | 09/30/2021 | 3,910 | (3 | ) | (1,173,000 | ) | (13,403 | ) | (8,751 | ) | 4,652 | ||||||||||||||
S&P 500 Index 1 | 09/17/2021 | 4,090 | (1 | ) | (409,000 | ) | (3,046 | ) | (3,315 | ) | (269 | ) | |||||||||||||
S&PASX 200 Index | 09/16/2021 | 6,825 | (4 | ) | (273,000 | ) | (1,182 | ) | (1,230 | ) | (48 | ) | |||||||||||||
$ | (22,382 | ) | $ | 25,770 |
Description | Notional Amount | Cost | Value | Unrealized Value | ||||||||||||
Swaptions (0.0%) | ||||||||||||||||
10 year Interest Rate Swap Call, expiring 11/5/2021, Pay 0.67%, Receive 3-month LIBOR | (1,235,000 | ) | (8,213 | ) | (916 | ) | 7,297 | |||||||||
10-year Interest Rate Swap Put, expiring 10/18/2021, Pay 0.66%, Receive 3-month LIBOR | (1,245,000 | ) | (9,088 | ) | (553 | ) | 8,535 | |||||||||
10-year Interest Rate Swap Put, expiring 10/18/2021, Pay 0.73%, Receive 3-month LIBOR | (1,245,000 | ) | (8,217 | ) | (553 | ) | 7,664 | |||||||||
$ | (2,022 | ) | $ | 23,496 | ||||||||||||
$ | (24,404 | ) | $ | 49,266 |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen Intermediate Municipal Income Fund
Shares or Principal Amount | Value (US$) | |||||||
MUNICIPAL BONDS (101.5%) | ||||||||
Alabama (4.4%) | ||||||||
Black Belt Energy Gas District Revenue Bonds, Series A, 4.00%, 08/01/2047(a) | $ | 1,000,000 | $ | 1,030,316 | ||||
Columbia Industrial Development Board Revenue Bonds (Alabama Power Co.), 0.06%, 11/01/2021(a) | 1,800,000 | 1,800,000 | ||||||
2,830,316 | ||||||||
California (3.6%) | ||||||||
Bay Area Toll Authority Revenue Bonds, Series A, 2.95%, 04/01/2047(a) | 350,000 | 385,464 | ||||||
Los Angeles Community College District General Obligation Unlimited Bonds, Series I, 4.00%, 08/01/2029 | 400,000 | 471,667 | ||||||
M-S-R Energy Authority Gas Revenue Bonds | ||||||||
Series B, 6.13%, 11/01/2029 | 490,000 | 624,978 | ||||||
Series A, 6.50%, 11/01/2039 | 500,000 | 834,654 | ||||||
2,316,763 | ||||||||
Colorado (0.3%) | ||||||||
Colorado Educational & Cultural Facilities Authority Revenue Bonds (Aspen View Academy), 4.00%, 05/01/2041 | 170,000 | 192,070 | ||||||
Connecticut (2.1%) | ||||||||
State Health & Educational Facilities Authority Revenue Bonds, Series F, 5.00%, 07/01/2027 | 1,135,000 | 1,341,871 | ||||||
District of Columbia (1.0%) | ||||||||
Washington Convention & Sports Authority Revenue Bonds, Series A, 5.00%, 10/01/2030 | 500,000 | 617,152 | ||||||
Florida (8.6%) | ||||||||
City of Lakeland Revenue Bonds, Series B, AMT, 5.00%, 10/01/2028 | 565,000 | 712,262 | ||||||
City of Tampa Revenue Bonds (Baycare Health Care System), Series A, 4.00%, 11/15/2033 | 1,000,000 | 1,025,822 | ||||||
Florida Development Finance Corp. Revenue Bonds (Glenridge On Palmer Ranch), 5.00%, 06/01/2035 | 225,000 | 266,109 | ||||||
Florida Development Finance Corp. Revenue Bonds (Global Outreach Charter AC), Series A, 4.00%, 06/30/2041(b) | 765,000 | 842,992 | ||||||
Florida Development Finance Corp. Revenue Bonds (Imagine School at Broward) , 5.00%, 12/15/2039(b) | 500,000 | 596,557 | ||||||
Palm Beach County Revenue Bonds (Provident Group - LU Properties LLC - LYNN University Housing Project), Series A, 5.00%, 06/01/2057(b) | 600,000 | 724,735 | ||||||
Polk County Industrial Development Authority Revenue Bonds (Carpenter's Home Estates, Inc. Project), 5.00%, 01/01/2039 | 160,000 | 179,919 | ||||||
St Johns County Industrial Development Authority Revenue Bonds (Vicar'S Landing Project), 4.00%, 12/15/2041 | 750,000 | 842,154 | ||||||
Volusia County Educational Facility Authority Revenue Bonds, Series B, 5.00%, 10/15/2023 | 250,000 | 275,231 | ||||||
5,465,781 | ||||||||
Georgia (1.2%) | ||||||||
Development Authority of Heard County Revenue Bonds (Georgia Power Co.), 0.06%, 12/01/2037(a) | 400,000 | 400,000 | ||||||
Main Street Natural Gas, Inc. Revenue Bonds, Series A, 5.00%, 05/15/2035 | 250,000 | 354,957 | ||||||
754,957 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Intermediate Municipal Income Fund
Hawaii (1.1%) | ||||||||
City & County Honolulu HI Wastewater System Revenue Bonds, Series A, 5.00%, 07/01/2047 | $ | 560,000 | $ | 685,530 | ||||
Illinois (2.5%) | ||||||||
Illinois Finance Authority Revenue Bonds (Carle Foundation), Series A, 6.00%, 08/15/2041 | 500,000 | 500,981 | ||||||
Illinois Finance Authority Revenue Bonds (Plymouth Place Obligated Group), 5.00%, 05/15/2041 | 200,000 | 240,558 | ||||||
State of Illinois General Obligation Unlimited Bonds, Series D, 5.00%, 11/01/2021 | 815,000 | 824,710 | ||||||
1,566,249 | ||||||||
Indiana (1.2%) | ||||||||
Indiana Finance Authority Revenue Bonds (Earlham College, Inc.), 5.00%, 10/01/2032 | 750,000 | 790,967 | ||||||
Kentucky (2.1%) | ||||||||
Kentucky Public Energy Authority Revenue Bonds, Series A, 4.00%, 04/01/2048(a) | 500,000 | 545,181 | ||||||
Louisville Regional Airport Authority Revenue Bonds (BT-OH LLC), Series A, AMT, VRDN, 0.05%, 11/01/2036(a) | 800,000 | 800,000 | ||||||
1,345,181 | ||||||||
Louisiana (2.0%) | ||||||||
Louisiana Local Government Environmental Facilities & Community Development Authority Revenue Bonds (Glen Retirement System), Series A | ||||||||
5.00%, 01/01/2022 | 160,000 | 160,956 | ||||||
5.00%, 01/01/2023 | 170,000 | 173,311 | ||||||
Louisiana Public Facilities Authority Revenue Bonds, (Pre-refunded @ $100, 05/15/2026), 3.00%, 05/15/2031 | 10,000 | 11,100 | ||||||
New Orleans Aviation Board Revenue Bonds (Louis Armstrong International Airport), 5.00%, 01/01/2028 | 500,000 | 635,100 | ||||||
New Orleans Aviation Board Revenue Bonds (Parking Facilities Corp.), 5.00%, 10/01/2027 | 250,000 | 313,242 | ||||||
1,293,709 | ||||||||
Maryland (3.1%) | ||||||||
Maryland Industrial Development Financing Authority Revenue Bonds (Occidental Petroleum Corp.), 1.30%, 03/01/2030(a) | 2,000,000 | 2,000,000 | ||||||
Massachusetts (1.0%) | ||||||||
Massachusetts Development Finance Agency Revenue Bonds, Series A, 5.00%, 07/01/2036 | 500,000 | 622,503 | ||||||
Michigan (3.6%) | ||||||||
Flint Hospital Building Authority Revenue Bonds | ||||||||
4.00%, 07/01/2035 | 1,000,000 | 1,144,269 | ||||||
4.00%, 07/01/2038 | 750,000 | 851,354 | ||||||
Michigan Finance Authority Revenue Bonds (Cesar Chavez Academy), 3.25%, 02/01/2024 | 295,000 | 304,075 | ||||||
2,299,698 | ||||||||
Mississippi (3.7%) | ||||||||
Meridian MS Revenue Bonds, 4.20%, 03/01/2033(b) | 1,453,764 | 1,568,467 | ||||||
Mississippi Business Finance Corp. Revenue Bonds (Mississippi Power Co.), AMT, 0.05%, 07/01/2025(a) | 800,000 | 800,000 | ||||||
2,368,467 | ||||||||
Missouri (0.4%) | ||||||||
Plaza at Noah's Ark Community Improvement District Revenue Bonds, 3.00%, 05/01/2022 | 60,000 | 60,605 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Intermediate Municipal Income Fund
State Health & Educational Facilities Authority Revenue Bond (Bethesda Health Group, Inc.), 4.00%, 08/01/2036 | $ | 165,000 | $ | 200,084 | ||||
260,689 | ||||||||
Nebraska (1.2%) | ||||||||
Central Plains Energy Project, Gas Project Revenue Bonds (Project No.3), 5.00%, 09/01/2021 | 750,000 | 752,820 | ||||||
New Hampshire (1.0%) | ||||||||
New Hampshire Health & Education Facilities Authority Revenue Bonds (Dartmouth College) | ||||||||
5.00%, 08/01/2035 | 250,000 | 311,673 | ||||||
5.00%, 08/01/2036 | 245,000 | 305,165 | ||||||
616,838 | ||||||||
New Jersey (5.0%) | ||||||||
New Jersey Educational Facilities Authority Revenue Bonds (The College of New Jersey) | ||||||||
Series F, 4.00%, 07/01/2033 | 30,000 | 34,083 | ||||||
Series F (Pre-refunded @ $100.000000, 07/01/2026), 4.00%, 07/01/2033 | 70,000 | 81,908 | ||||||
New Jersey Transportation Trust Fund Authority Revenue Bonds, Series A, 5.00%, 12/15/2034 | 2,000,000 | 2,522,182 | ||||||
Newark Housing Authority Revenue Bonds (Newark Redevelopment Project), 4.00%, 01/01/2037 | 500,000 | 563,428 | ||||||
3,201,601 | ||||||||
New York (14.4%) | ||||||||
City of Elmira General Obligation Limited Bonds | ||||||||
5.00%, 07/01/2025(b) | 85,000 | 99,038 | ||||||
5.00%, 07/01/2033(b) | 625,000 | 754,503 | ||||||
City of Poughkeepsie General Obligation Limited Bonds, 5.00%, 06/01/2031 | 145,000 | 168,024 | ||||||
Hudson Yards Infrastructure Corp. Revenue Bonds, Series A, 5.00%, 02/15/2042 | 1,000,000 | 1,204,254 | ||||||
Metropolitan Transportation Authority Revenue Bonds | ||||||||
Series C-1, 5.00%, 11/15/2027 | 1,150,000 | 1,360,820 | ||||||
Series A-1, 5.00%, 11/15/2027 | 695,000 | 832,694 | ||||||
Series A-2, VRN, 5.00%, 11/15/2045(a) | 400,000 | 525,957 | ||||||
Nassau County Local Economic Assistance Corp. Revenue Bonds (Catholic Health Services), 5.00%, 07/01/2030 | 1,000,000 | 1,126,738 | ||||||
New York City Water & Sewer System Revenue Bonds, Series EE, 5.00%, 06/15/2037 | 295,000 | 364,863 | ||||||
New York State Dormitory Authority Revenue Bonds (State University Educational Facilities 3rd Generation), Series A, 5.50%, 05/15/2023 | 1,160,000 | 1,272,252 | ||||||
New York Transportation Development Corp. Revenue Bonds, AMT, 4.00%, 10/31/2034 | 250,000 | 304,811 | ||||||
Port Authority of New York & New Jersey Revenue Bonds, AMT, 5.00%, 07/15/2033 | 400,000 | 522,943 | ||||||
Port Authority of New York & New Jersey Revenue Bonds, 5.00%, 10/15/2042 | 560,000 | 681,847 | ||||||
9,218,744 | ||||||||
Ohio (0.4%) | ||||||||
Buckeye Tobacco Settlement Financing Authority Tobacco Settlement Assets-Backed Revenue Bonds, 5.00%, 06/01/2055 | 110,000 | 129,371 | ||||||
Ohio Air Quality Development Authority Revenue Bonds (Ohio Valley Electric Corp. Project), Series A, 3.25%, 09/01/2029 | 135,000 | 150,899 | ||||||
280,270 | ||||||||
Pennsylvania (4.0%) | ||||||||
Montgomery County Industrial Development Authority Revenue Bonds (Imagine School at Broward) , 4.00%, 12/01/2037 | 300,000 | 339,981 | ||||||
Pennsylvania Turnpike Commission Revenue Bonds, Series A, 5.25%, 07/15/2029 | 850,000 | 1,143,827 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Intermediate Municipal Income Fund
School Dist. of the City of Erie, General Obligation Limited Bonds, Series A, (AGM ST AID WITHHLDG), 5.00%, 04/01/2034 | $ | 825,000 | $ | 1,051,454 | ||||
2,535,262 | ||||||||
Puerto Rico (2.1%) | ||||||||
Commonwealth of Puerto Rico General Obligation Unlimited Bonds, Series A, (AGM), 5.25%, 07/01/2024 | 615,000 | 632,851 | ||||||
Commonwealth of Puerto Rico Public Improvement General Obligation Unlimited Bonds, (AGC-ICC), 5.50%, 07/01/2022 | 250,000 | 260,799 | ||||||
Electric Power Authority Revenue Bonds, Series V, 5.25%, 07/01/2026 | 100,000 | 106,990 | ||||||
Highway & Transportation Authority Revenue Bonds, (AGC), 5.50%, 07/01/2031 | 300,000 | 351,151 | ||||||
1,351,791 | ||||||||
Rhode Island (1.3%) | ||||||||
Tobacco Settlement Financing Corp. Revenue Bonds, Series B, 4.50%, 06/01/2045 | 750,000 | 820,193 | ||||||
South Carolina (1.8%) | ||||||||
City of Rock Hill SC Combined Utility System Revenue Bonds | ||||||||
5.00%, 01/01/2025 | 500,000 | 577,106 | ||||||
5.00%, 01/01/2026 | 500,000 | 596,976 | ||||||
1,174,082 | ||||||||
Tennessee (4.9%) | ||||||||
Knox County Health Educational & Housing Facilities Board Revenue Bonds (University Health System, Inc.), 5.00%, 09/01/2036 | 500,000 | 578,750 | ||||||
Metropolitan Government Nashville & Davidson Health & Educational Facilities Revenue Bonds (Trevecca Nazarene University Project) | ||||||||
5.00%, 10/01/2034 | 360,000 | 455,759 | ||||||
4.00%, 10/01/2041 | 1,355,000 | 1,555,067 | ||||||
Tennessee Energy Acquisition Corp. Revenue Bonds, Series A, 5.25%, 09/01/2023 | 500,000 | 550,906 | ||||||
3,140,482 | ||||||||
Texas (17.8%) | ||||||||
Arlington Higher Education Finance Corp. Revenue Bonds (Wayside Schools), 4.00%, 08/15/2036 | 100,000 | 111,364 | ||||||
Harris County Health Facilities Development Corp. Revenue Bonds (SCH Health Care System), Prerefunded/Escrowed to Maturity, Series B, 5.75%, 07/01/2027 | 4,675,000 | 5,691,914 | ||||||
Matagorda County Navigation District No. 1 Revenue Bonds, Series B-1, 4.00%, 06/01/2030 | 1,000,000 | 1,047,189 | ||||||
Port of Beaumont Navigation District of Jefferson County Dock & Wharf Facilities Revenue Bonds (Jefferson Railport Terminal II LLC), 4.00%, 01/01/2050(b) | 1,000,000 | 1,036,906 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. Revenue Bonds (Baylor Scott & White Obligated Group), Series A, 5.00%, 11/15/2029 | 800,000 | 966,722 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. Revenue Bonds (Texas Health Resources Obligated Group), Series A, 4.00%, 02/15/2036 | 1,000,000 | 1,142,935 | ||||||
Texas Municipal Gas Acquisition & Supply Corp. I Revenue Bonds, Series D, 6.25%, 12/15/2026 | 1,140,000 | 1,343,860 | ||||||
11,340,890 | ||||||||
Utah (1.1%) | ||||||||
Salt Lake City Corp. Airport Revenue Bonds, Series B, 5.00%, 07/01/2042 | 100,000 | 122,733 | ||||||
Utah Charter School Finance Authority Revenue Bonds (Scholar Academy), Series A, 4.50%, 04/15/2048(a)(b) | 570,000 | 588,418 | ||||||
711,151 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen Intermediate Municipal Income Fund
Washington (0.3%) | ||||||||
State Housing Finance Commission Revenue Bonds (Transforming Age Project), Series A, 5.00%, 01/01/2024(b) | $ | 180,000 | $ | 195,667 | ||||
Wisconsin (4.3%) | ||||||||
Public Finance Authority Revenue Bonds | ||||||||
5.00%, 06/15/2029 | 530,000 | 652,061 | ||||||
5.00%, 06/15/2034 | 425,000 | 511,108 | ||||||
Public Finance Authority Revenue Bonds, Series A, 5.00%, 07/01/2038 | 1,000,000 | 1,165,140 | ||||||
Wisconsin Health & Educational Facilities Authority Revenue Bonds (Froedtert Health, Inc. Obligated Group), Series 2017 A, 5.00%, 04/01/2035 | 250,000 | 303,640 | ||||||
Wisconsin Health & Educational Facilities Authority Revenue Bonds (St. Camillus Health System), 5.00%, 11/01/2021 | 120,000 | 120,782 | ||||||
2,752,731 | ||||||||
Total Municipal Bonds | 64,844,425 | |||||||
SHORT-TERM INVESTMENT—0.3% | ||||||||
UNITED STATES (0.3%) | ||||||||
BlackRock Liquidity Funds MuniCash Portfolio, Institutional Shares | 206,409 | 206,450 | ||||||
Total Short-Term Investment | 206,450 | |||||||
Total Investments (Cost $59,700,685) —101.8% | 65,050,875 | |||||||
Liabilities in Excess of Other Assets—(1.8)% | (1,173,768 | ) | ||||||
Net Assets—100.0% | $ | 63,877,107 |
(a) | Variable Rate Instrument. The rate shown is based on the latest available information as of July 31, 2021. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(b) | Denotes a security issued under Regulation S or Rule 144A. |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
Shares or Principal Amount | Value (US$) | |||||||
MUNICIPAL BONDS (100.9%) | ||||||||
Alabama (3.0%) | ||||||||
Alabama Industrial Development Solid Waste Disposal Revenue Bonds (OfficeMax, Inc.), 6.45%, 12/01/2023 | $ | 750,000 | $ | 751,093 | ||||
Columbia Industrial Development Board Revenue Bonds (Alabama Power Co.), 0.06%, 11/01/2021(a) | 1,800,000 | 1,800,000 | ||||||
Health Care Authority for Baptist Health Revenue Bonds, Series D, 5.00%, 11/15/2021 | 850,000 | 852,794 | ||||||
Industrial Development Board of the City of Mobile Alabama Revenue Bonds (Alabama Power Co.), Series A, 0.06%, 04/01/2031(a) | 2,650,000 | 2,650,000 | ||||||
Industrial Development Board Of The Town Of West Jefferson Solid Waste Disposal Revenue Bonds (Alabama Power Company Miller Plant Project), 0.06%, 12/01/2038(a) | 3,000,000 | 3,000,000 | ||||||
Jemison Water & Sewer Revenue Bonds, Series A, 3.50%, 03/01/2026 | 290,000 | 306,043 | ||||||
Walker County Economic & Industrial Development Authority Revenue Bonds (Alabama Power Co.), 0.06%, 12/01/2036(a) | 2,400,000 | 2,400,000 | ||||||
11,759,930 | ||||||||
Arizona (3.5%) | ||||||||
Arizona Industrial Development Authority Revenue Bonds (Great Lakes Senior Living Communities LLC Project Third Tier), Series C | ||||||||
5.13%, 01/01/2034(b) | 775,000 | 723,921 | ||||||
5.13%, 01/01/2035(b) | 815,000 | 763,443 | ||||||
Arizona Industrial Development Authority Revenue Bonds (Kaizen Education Foundation) | ||||||||
5.00%, 07/01/2022(b) | 385,000 | 399,575 | ||||||
5.00%, 07/01/2023(b) | 405,000 | 436,309 | ||||||
Arizona Industrial Development Authority Revenue Bonds (Legacy Cares, Inc.), Series A | ||||||||
6.75%, 07/01/2030(b) | 6,000,000 | 7,087,132 | ||||||
5.50%, 07/01/2031(b) | 100,000 | 109,751 | ||||||
6.00%, 07/01/2051(b) | 800,000 | 889,844 | ||||||
Arizona Industrial Development Authority Revenue Bonds (Somerset Academy of Las Vegas), 3.00%, 12/15/2031(b) | 655,000 | 698,968 | ||||||
La Paz County Industrial Development Authority Revenue Bonds (Charter School Solutions), Series A, 5.00%, 02/15/2026(b) | 500,000 | 555,552 | ||||||
Maricopa County Industrial Development Authority Revenue Bonds (Ottawa University), | ||||||||
5.00%, 10/01/2026(b) | 300,000 | 322,537 | ||||||
5.13%, 10/01/2030(b) | 425,000 | 486,575 | ||||||
Maricopa County Industrial Development Authority Revenue Bonds (Paragon Management, Inc.), 4.00%, 07/01/2026(b) | 1,250,000 | 1,355,200 | ||||||
13,828,807 | ||||||||
Arkansas (1.4%) | ||||||||
Arkansas Development Finance Authority Revenue Bonds (Central Arkansas Radiation Therapy Institute, Inc.) | ||||||||
4.00%, 07/01/2023 | 105,000 | 110,167 | ||||||
4.00%, 07/01/2024 | 100,000 | 106,972 | ||||||
4.00%, 07/01/2025 | 140,000 | 152,184 | ||||||
4.00%, 07/01/2026 | 185,000 | 204,065 | ||||||
4.00%, 07/01/2027 | 220,000 | 245,620 | ||||||
4.00%, 07/01/2028 | 230,000 | 259,183 | ||||||
3.00%, 07/01/2032 | 350,000 | 357,724 | ||||||
3.13%, 07/01/2036 | 360,000 | 367,413 | ||||||
Arkansas Public Housing Authority Municipal Series 1 LLC Revenue Bonds, 3.75%, 09/01/2026(a)(b)(c) | 940,000 | 939,528 | ||||||
County of Baxter Hospital Revenue Bonds (Baxter Regional Medical Center), Series A |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
5.00%, 09/01/2025 | $ | 1,000,000 | $ | 1,157,339 | ||||
5.00%, 09/01/2026 | 1,490,000 | 1,770,849 | ||||||
5,671,044 | ||||||||
California (3.5%) | ||||||||
California Municipal Finance Authority Revenue Bonds (Highlands Community Charter and Technical Schools), 4.00%, 11/15/2021(b) | 1,650,000 | 1,650,852 | ||||||
California Municipal Finance Authority Revenue Bonds (Simpson University), Series A | ||||||||
5.00%, 10/01/2026 | 40,000 | 42,983 | ||||||
5.13%, 10/01/2030 | 1,020,000 | 1,151,664 | ||||||
California Municipal Finance Authority Revenue Bonds (United Airlines, Inc.), 4.00%, 07/15/2029 | 3,000,000 | 3,521,237 | ||||||
California Public Finance Authority Revenue Bonds (Kendal at Sonoma Obligated Group) | ||||||||
2.38%, 11/15/2028(b) | 1,565,000 | 1,591,488 | ||||||
3.13%, 05/15/2029(b) | 3,075,000 | 3,137,941 | ||||||
5.00%, 11/15/2036(b) | 410,000 | 493,607 | ||||||
California Statewide Communities Development Authority Revenue Bonds (Birchcrest Preservation LP), 0.07%, 08/01/2032(a) | 100,000 | 100,000 | ||||||
California Statewide Communities Development Authority Revenue Bonds (Provident Group-Ponoma Properties LLC), Series A, 5.60%, 01/15/2036(b) | 1,900,000 | 2,004,533 | ||||||
13,694,305 | ||||||||
Colorado (0.6%) | ||||||||
Colorado Educational & Cultural Facilities Authority Revenue Bonds (Aspen View Academy, Inc.) | ||||||||
4.00%, 05/01/2024 | 150,000 | 162,197 | ||||||
4.00%, 05/01/2027 | 65,000 | 74,069 | ||||||
4.00%, 05/01/2029 | 145,000 | 168,104 | ||||||
4.00%, 05/01/2030 | 120,000 | 138,758 | ||||||
4.00%, 05/01/2036 | 175,000 | 199,825 | ||||||
Colorado Health Facilities Authority Revenue Bonds, Series B | ||||||||
5.00%, 05/15/2028 | 400,000 | 433,111 | ||||||
5.00%, 05/15/2028 | 100,000 | 105,824 | ||||||
Colorado Health Facilities Authority Revenue Bonds (Frasier Meadows Manor, Inc.) | ||||||||
5.00%, 05/15/2025 | 320,000 | 346,488 | ||||||
Series B, 5.00%, 05/15/2029 | 585,000 | 633,424 | ||||||
2,261,800 | ||||||||
Connecticut (1.6%) | ||||||||
City of West Haven General Obligation Unlimited Bonds | ||||||||
Series A, 5.00%, 11/01/2025 | 325,000 | 374,841 | ||||||
Series B, 5.00%, 11/01/2025 | 240,000 | 276,806 | ||||||
Series A, 5.00%, 11/01/2026 | 325,000 | 383,339 | ||||||
Series B, 5.00%, 11/01/2026 | 200,000 | 235,901 | ||||||
Series A, 5.00%, 11/01/2027 | 635,000 | 762,990 | ||||||
Series B, 5.00%, 11/01/2027 | 200,000 | 240,312 | ||||||
State Health & Educational Facilities Authority Revenue Bond (McLean Affiliates Obligated Group) | ||||||||
Series B-2, 2.75%, 01/01/2026(b) | 650,000 | 658,505 | ||||||
Series B-1, 3.25%, 01/01/2027(b) | 750,000 | 768,570 | ||||||
Series A, 5.00%, 01/01/2030(b) | 500,000 | 577,484 | ||||||
State Health & Educational Facilities Authority Revenue Bond (University of Hartford) | ||||||||
5.00%, 07/01/2025 | 400,000 | 462,204 | ||||||
5.00%, 07/01/2026 | 575,000 | 682,891 | ||||||
5.00%, 07/01/2027 | 430,000 | 523,046 | ||||||
5.00%, 07/01/2029 | 300,000 | 379,679 | ||||||
6,326,568 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
Delaware (0.2%) | ||||||||
Delaware State Economic Development Authority Revenue Bonds (Delmarva Power & Light Co.), 0.09%, 10/01/2029(a) | $ | 900,000 | $ | 900,000 | ||||
District of Columbia (0.7%) | ||||||||
Metropolitan Washington Airports Authority Aviation Revenue Bonds, 5.00%, 10/01/2034 | 2,000,000 | 2,681,601 | ||||||
Florida (8.6%) | ||||||||
Broward County Industrial Development Revenue Bonds (Florida Power & Light Co.), 0.05%, 06/01/2045(a) | 180,000 | 180,000 | ||||||
Capital Trust Agency, Inc., Zero Coupon%, 01/01/2024 | 248,055 | 4,961 | ||||||
Capital Trust Agency, Inc. Revenue Bonds (Educational Growth Fund LLC), Series A-1, 3.38%, 07/01/2031(b) | 1,745,000 | 1,885,828 | ||||||
Capital Trust Agency, Inc. Revenue Bonds (Wonderful Foundations Charter School Holdings LLC), 4.50%, 01/01/2035(b) | 300,000 | 346,362 | ||||||
Celebration Pointe Community Development District No.1 Special Assessment Revenue Bonds, 4.75%, 05/01/2024 | 40,000 | 42,867 | ||||||
City of Atlantic Beach Health Care Facilities Revenue Bonds (Naval Continuing Care Retirement Foundation, Inc.), Series A, 5.00%, 11/15/2021 | 200,000 | 202,509 | ||||||
City of Lakeland Revenue Bonds, Series B | ||||||||
4.00%, 10/01/2033 | 1,095,000 | 1,344,845 | ||||||
4.00%, 10/01/2034 | 1,140,000 | 1,397,842 | ||||||
County of Bay Revenue Bonds (Florida Power & Light Co.), 0.05%, 06/01/2050(a) | 1,000,000 | 1,000,000 | ||||||
County Of Lake Florida Retirement Facility Revenue Bonds (Waterman Communities, Inc.) | ||||||||
Series B-3, 3.38%, 08/15/2026 | 1,000,000 | 1,010,668 | ||||||
Series B-2, 3.75%, 08/15/2027 | 1,500,000 | 1,515,929 | ||||||
Florida Development Finance Corp. Educational Facilities Revenue Bonds (Imagine School At Broward Project), Series A | ||||||||
4.00%, 12/15/2029(b) | 530,000 | 597,348 | ||||||
5.00%, 12/15/2034(b) | 530,000 | 636,729 | ||||||
Florida Development Finance Corp. Educational Facilities Revenue Bonds (Miami Arts Charter School Project), Series A, 5.00%, 06/15/2024(b) | 100,000 | 98,684 | ||||||
Florida Development Finance Corp. Revenue Bonds (Brightline Trains Florida LLC), Series B, 7.38%, 01/01/2049(b) | 2,000,000 | 2,208,459 | ||||||
Florida Development Finance Corp. Revenue Bonds (Glenridge on Palmer Ranch Obligated Group) | ||||||||
3.00%, 06/01/2022 | 115,000 | 116,842 | ||||||
3.00%, 06/01/2023 | 115,000 | 118,900 | ||||||
4.00%, 06/01/2024 | 105,000 | 112,936 | ||||||
4.00%, 06/01/2025 | 110,000 | 120,449 | ||||||
4.00%, 06/01/2026 | 110,000 | 122,163 | ||||||
5.00%, 06/01/2031 | 300,000 | 357,966 | ||||||
Florida Development Finance Corp. Revenue Bonds (Global Outreach Charter Academy Obligated Group), Series A | ||||||||
4.00%, 06/30/2027(b) | 150,000 | 171,308 | ||||||
4.00%, 06/30/2028(b) | 195,000 | 225,215 | ||||||
4.00%, 06/30/2029(b) | 205,000 | 234,601 | ||||||
4.00%, 06/30/2030(b) | 215,000 | 244,099 | ||||||
4.00%, 06/30/2031(b) | 225,000 | 254,363 | ||||||
4.00%, 06/30/2036(b) | 625,000 | 699,703 | ||||||
Florida Development Finance Corp. Revenue Bonds (Mayflower Retirement Center, Inc. Obligated Group) | ||||||||
Series A, 4.00%, 06/01/2022(b) | 220,000 | 225,977 | ||||||
Series A, 4.00%, 06/01/2023(b) | 225,000 | 238,292 | ||||||
Series A, 4.00%, 06/01/2024(b) | 475,000 | 516,772 | ||||||
Series A, 4.00%, 06/01/2025(b) | 495,000 | 551,336 | ||||||
1.75%, 06/01/2026(b) | 1,020,000 | 1,021,414 | ||||||
2.38%, 06/01/2027(b) | 835,000 | 836,247 | ||||||
Florida Development Finance Corp. Solid Waste Revenue Bonds (Waste Pro USA, Inc.) | ||||||||
5.00%, 05/01/2029(b) | 2,000,000 | 2,155,552 | ||||||
5.00%, 08/01/2029(a)(b) | 2,000,000 | 2,075,309 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
3.00%, 06/01/2032 | $ | 2,500,000 | $ | 2,644,267 | ||||
Lee County Industrial Development Authority Revenue Bonds (Florida Light & Power Co.), Series A, 0.05%, 12/01/2046(a) | 225,000 | 225,000 | ||||||
Palm Beach County Revenue Bonds (Provident Group - LU Properties LLC - LYNN University Housing Project), Series A | ||||||||
4.25%, 06/01/2031(b) | 1,200,000 | 1,356,688 | ||||||
5.00%, 06/01/2057(b) | 400,000 | 483,157 | ||||||
Palm Beach County Revenue Bonds (Provident Group - PBAU Properties LLC - Palm Beach Atlantic University Housing Project), Series A, 5.00%, 04/01/2029(b) | 1,440,000 | 1,668,386 | ||||||
Polk County Industrial Development Authority Revenue Bonds (Carpenter's Home Estates, Inc. Project) | ||||||||
Series A, 5.00%, 01/01/2029 | 400,000 | 459,502 | ||||||
5.00%, 01/01/2039 | 240,000 | 269,878 | ||||||
Saint Johns County Industrial Development Authority Revenue Bonds (Life Care Ponte Vedra Obligated Group) | ||||||||
4.00%, 12/15/2021 | 85,000 | 85,984 | ||||||
4.00%, 12/15/2022 | 110,000 | 114,651 | ||||||
4.00%, 12/15/2023 | 115,000 | 123,020 | ||||||
4.00%, 12/15/2024 | 140,000 | 153,040 | ||||||
4.00%, 12/15/2025 | 180,000 | 200,402 | ||||||
4.00%, 12/15/2026 | 190,000 | 214,612 | ||||||
4.00%, 12/15/2027 | 215,000 | 245,973 | ||||||
4.00%, 12/15/2028 | 205,000 | 236,900 | ||||||
4.00%, 12/15/2029 | 225,000 | 260,224 | ||||||
4.00%, 12/15/2030 | 200,000 | 229,997 | ||||||
4.00%, 12/15/2031 | 210,000 | 240,537 | ||||||
Seminole County Industrial Development Authority Revenue Bonds (Galileo School Foundation, Inc.), Series A | ||||||||
4.00%, 06/15/2024(b) | 130,000 | 140,340 | ||||||
4.00%, 06/15/2025(b) | 105,000 | 115,572 | ||||||
4.00%, 06/15/2026(b) | 155,000 | 173,351 | ||||||
4.00%, 06/15/2027(b) | 235,000 | 266,459 | ||||||
4.00%, 06/15/2028(b) | 250,000 | 286,764 | ||||||
4.00%, 06/15/2029(b) | 255,000 | 294,154 | ||||||
4.00%, 06/15/2031(b) | 275,000 | 320,805 | ||||||
4.00%, 06/15/2036(b) | 315,000 | 363,224 | ||||||
34,045,362 | ||||||||
Georgia (4.6%) | ||||||||
Appling County Georgia Development Authority Pollution Control Revenue Bonds, VRDN, 0.05%, 09/01/2029(a) | 700,000 | 700,000 | ||||||
Appling County Georgia Development Authority Pollution Control Revenue Bonds (Georgia Power Company Plant Hatch Project), VRDN, 0.05%, 09/01/2041(a) | 100,000 | 100,000 | ||||||
Dekalb Country Housing Authority Revenue Bonds (Highlands At East Atlanta Apartments Project), 1.78%, 09/01/2036(a)(b) | 5,000,000 | 4,994,154 | ||||||
Development Authority of Burke County Revenue Bonds (Georgia Power Co.), 0.05%, 11/01/2052(a) | 2,300,000 | 2,300,000 | ||||||
Development Authority of Heard County Revenue Bonds (Georgia Power Co.), 0.06%, 12/01/2037(a) | 3,600,000 | 3,600,000 | ||||||
Development Authority of Monroe County Revenue Bonds (Florida Power & Light Co.), 0.05%, 06/01/2049(a) | 1,000,000 | 1,000,000 | ||||||
Development Authority of Monroe County Revenue Bonds (Georgia Power Co.), 0.05%, 11/01/2048(a) | 1,665,000 | 1,665,000 | ||||||
Floyd County Development Authority Revenue Bonds (Georgia Power Co.), 0.05%, 09/01/2026(a) | 600,000 | 600,000 | ||||||
Main Street Natural Gas, Inc. Revenue Bonds, Series A | ||||||||
5.00%, 05/15/2030 | 200,000 | 258,045 | ||||||
5.00%, 05/15/2036 | 1,970,000 | 2,830,956 | ||||||
18,048,155 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
Guam (0.0%) | ||||||||
Guam International Airport Authority Revenue Bonds (Antonio B. Won Pat International Airport Authority), Series C, 5.00%, 10/01/2021 | $ | 80,000 | $ | 80,586 | ||||
Idaho (0.2%) | ||||||||
Idaho Housing & Finance Association Revenue Bonds (Idaho Arts Charter School, Inc.), Series A, 4.00%, 12/01/2026 | 800,000 | 864,710 | ||||||
Idaho Housing & Finance Association Revenue Bonds (Victory Charter School), Series A, 4.00%, 07/01/2026 | 80,000 | 86,661 | ||||||
951,371 | ||||||||
Illinois (6.7%) | ||||||||
Chicago Board of Education General Obligation Unlimited Bonds | ||||||||
Series C, 5.00%, 12/01/2022 | 600,000 | 636,210 | ||||||
Series A, 5.00%, 12/01/2028 | 200,000 | 256,379 | ||||||
Cook County School District No. 144 Prairie Hills General Obligation Unlimited Bonds, Series A, 4.00%, 12/01/2033 | 600,000 | 685,852 | ||||||
Governors State University Certificates of Participation (Capital Improvement Project), 5.00%, 07/01/2026 | 400,000 | 475,899 | ||||||
Illinois Finance Authority Educational Facility Revenue Bonds (Rogers Park Montessori School), 5.00%, 02/01/2024 | 160,000 | 166,706 | ||||||
Illinois Finance Authority Revenue Bonds (Acero Charter Schools, Inc. Obligated Group) | ||||||||
4.00%, 10/01/2027(b) | 405,000 | 460,786 | ||||||
4.00%, 10/01/2028(b) | 580,000 | 667,464 | ||||||
4.00%, 10/01/2029(b) | 910,000 | 1,055,311 | ||||||
4.00%, 10/01/2030(b) | 630,000 | 734,981 | ||||||
4.00%, 10/01/2032(b) | 685,000 | 796,707 | ||||||
4.00%, 10/01/2033(b) | 1,060,000 | 1,227,631 | ||||||
4.00%, 10/01/2034(b) | 445,000 | 513,189 | ||||||
Illinois Finance Authority Revenue Bonds (Benedictine University) | ||||||||
5.00%, 10/01/2025 | 1,035,000 | 1,197,023 | ||||||
5.00%, 10/01/2028 | 120,000 | 148,398 | ||||||
5.00%, 10/01/2029 | 200,000 | 251,598 | ||||||
5.00%, 10/01/2030 | 100,000 | 127,581 | ||||||
Illinois Finance Authority Revenue Bonds (CHF-Chicago LLC), Series A | ||||||||
5.00%, 02/15/2027 | 420,000 | 501,963 | ||||||
5.00%, 02/15/2028 | 400,000 | 481,747 | ||||||
5.00%, 02/15/2029 | 520,000 | 622,286 | ||||||
5.00%, 02/15/2030 | 335,000 | 398,559 | ||||||
5.00%, 02/15/2031 | 370,000 | 439,031 | ||||||
5.00%, 02/15/2032 | 225,000 | 266,412 | ||||||
Illinois Finance Authority Revenue Bonds (Chicago Charter School Foundation) | ||||||||
5.00%, 12/01/2028 | 250,000 | 305,851 | ||||||
5.00%, 12/01/2029 | 315,000 | 383,232 | ||||||
Illinois Finance Authority Revenue Bonds (Plymouth Place Obligated Group) | ||||||||
5.00%, 05/15/2032 | 275,000 | 342,073 | ||||||
5.00%, 05/15/2033 | 290,000 | 359,029 | ||||||
5.00%, 05/15/2034 | 300,000 | 369,223 | ||||||
5.00%, 05/15/2035 | 315,000 | 385,859 | ||||||
5.00%, 05/15/2036 | 330,000 | 402,331 | ||||||
Metropolitan Pier & Exposition Authority Revenue Bonds | ||||||||
5.00%, 12/15/2025 | 295,000 | 349,616 | ||||||
5.00%, 12/15/2027 | 100,000 | 125,181 | ||||||
State of Illinois General Obligation Unlimited Bonds | ||||||||
5.00%, 08/01/2021 | 50,000 | 50,000 | ||||||
5.00%, 08/01/2024 | 2,000,000 | 2,095,733 | ||||||
Series D, 5.00%, 11/01/2026 | 2,780,000 | 3,379,511 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
5.00%, 11/01/2029 | $ | 2,000,000 | $ | 2,458,584 | ||||
4.00%, 02/01/2030 | 745,000 | 857,059 | ||||||
Village of Matteson Revenue Bonds | ||||||||
5.00%, 12/01/2026 | 150,000 | 182,415 | ||||||
5.00%, 12/01/2027 | 150,000 | 187,167 | ||||||
5.00%, 12/01/2028 | 350,000 | 440,316 | ||||||
Village of Matteson Tax Allocation Bonds, 6.50%, 12/01/2035 | 1,220,000 | 1,358,710 | ||||||
Village of Willow Springs General Obligation Unlimited Bonds, Series C, 4.45%, 12/15/2021 | 285,000 | 285,865 | ||||||
26,429,468 | ||||||||
Indiana (0.9%) | ||||||||
City of Valparaiso Exempt Facilities Revenue Bonds (Pratt Paper LLC), 5.88%, 01/01/2024 | 100,000 | 108,105 | ||||||
Hammond Local Public Improvement Bond Bank Revenue Bonds, Series B, 4.63%, 07/15/2023(b) | 870,000 | 910,181 | ||||||
Indiana Finance Authority Revenue Bonds (Earlham College, Inc.), 5.00%, 10/01/2032 | 2,250,000 | 2,372,902 | ||||||
3,391,188 | ||||||||
Kansas (1.1%) | ||||||||
City of Manhattan Revenue Bonds (Meadowlark Hills Retirement Community Obligated Group), Series A | ||||||||
4.00%, 06/01/2025 | 205,000 | 226,166 | ||||||
4.00%, 06/01/2026 | 315,000 | 353,726 | ||||||
4.00%, 06/01/2027 | 330,000 | 375,868 | ||||||
4.00%, 06/01/2028 | 300,000 | 346,389 | ||||||
4.00%, 06/01/2036 | 1,640,000 | 1,897,010 | ||||||
4.00%, 06/01/2046 | 1,000,000 | 1,130,439 | ||||||
4,329,598 | ||||||||
Kentucky (2.8%) | ||||||||
Kentucky Economic Development Finance Authority Revenue Bonds (Christian Care Communities Obligated Group), 4.25%, 07/01/2031 | 1,315,000 | 1,394,942 | ||||||
Kentucky Economic Development Finance Authority Revenue Bonds (Masonic Homes of Kentucky, Inc.), Series C, 0.09%, 05/01/2034(a) | 1,000,000 | 1,000,000 | ||||||
Louisville Regional Airport Authority Revenue Bonds (BT-OH LLC), Series A, AMT, VRDN, 0.06%, 11/01/2036(a) | 6,800,000 | 6,800,000 | ||||||
Louisville Regional Airport Authority Revenue Bonds (United Parcel Service, Inc.), Series C, 0.05%, 01/01/2029(a) | 1,800,000 | 1,800,000 | ||||||
10,994,942 | ||||||||
Louisiana (1.4%) | ||||||||
Louisiana Local Government Environmental Facilities & Community Development Authority Revenue Bonds (Provident Group - ULM Properties LLC - University Of Louisiana At Manroe Project), Series A, 5.00%, 07/01/2029(b) | 1,000,000 | 1,093,487 | ||||||
Louisiana Local Government Environmental Facilities & Community Development Authority Revenue Bonds (St. James Place of Baton Rouge), Series A, 5.50%, 11/15/2025 | 250,000 | 270,623 | ||||||
Louisiana Local Government Environmental Facilities & Community Development Authority Revenue Bonds (The Glen System Retirement Project), Series A | ||||||||
5.00%, 01/01/2024 | 180,000 | 185,554 | ||||||
5.00%, 01/01/2025 | 370,000 | 385,029 | ||||||
5.00%, 01/01/2026 | 390,000 | 408,023 | ||||||
5.00%, 01/01/2027 | 410,000 | 430,368 | ||||||
5.00%, 01/01/2028 | 430,000 | 453,096 | ||||||
5.00%, 01/01/2029 | 450,000 | 474,760 | ||||||
Louisiana Local Government Environmental Facilities & Community Development Authority Student Housing Revenue Bonds (Provident Group - ULM Properties LLC - University Of Louisiana At Manroe Project), Series A, 5.00%, 07/01/2039(b) | 1,000,000 | 1,082,718 | ||||||
Louisiana Public Facilities Authority Revenue Bonds (Young Audiences Charter School Project), Series A, 5.00%, 04/01/2030(b) | 400,000 | 438,079 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
Parish of St. Charles Gulf Opportunity Zone Revenue Bonds (Valero Project), 4.00%, 12/01/2040(a) | $ | 315,000 | $ | 324,456 | ||||
5,546,193 | ||||||||
Maryland (4.6%) | ||||||||
Anne Arundel County Consolidated Special Taxing District Bonds (Villages at Two Rivers Project), 4.20%, 07/01/2024 | 70,000 | 73,481 | ||||||
Frederick County Educational Facilities Revenue Bonds (Mount St. Marys University), Series A | ||||||||
5.00%, 09/01/2027(b) | 1,495,000 | 1,679,086 | ||||||
5.00%, 09/01/2032(b) | 740,000 | 850,900 | ||||||
Maryland Economic Development Corp. Revenue Bonds (CONSOL Marine Terminal, Inc.), 5.75%, 09/01/2025 | 1,445,000 | 1,460,285 | ||||||
Maryland Industrial Development Financing Authority Revenue Bonds (Occidental Petroleum Corp.), 1.30%, 03/01/2030(a) | 12,510,000 | 12,510,000 | ||||||
The Mayor and Council of Rockville Economic Development Revenue Bonds (King Farm Presbyterian Retirement Community, Inc.) | ||||||||
Series A-2, 5.00%, 11/01/2025 | 705,000 | 786,370 | ||||||
5.00%, 11/01/2027 | 600,000 | 664,050 | ||||||
18,024,172 | ||||||||
Massachusetts (1.3%) | ||||||||
Lynn Housing Authority & Neighborhood Development Revenue Bonds, 4.00%, 10/01/2022 | 330,000 | 335,313 | ||||||
Massachusetts Development Finance Agency Revenue Bonds (Linden Ponds, Inc.), 4.00%, 11/15/2023(b) | 635,000 | 656,320 | ||||||
Massachusetts Development Finance Agency Revenue Bonds (NewBridge on The Charles, Inc.) | ||||||||
4.00%, 10/01/2025(b) | 500,000 | 546,401 | ||||||
4.00%, 10/01/2026(b) | 500,000 | 545,650 | ||||||
4.00%, 10/01/2027(b) | 450,000 | 490,635 | ||||||
Massachusetts Development Finance Agency Revenue Bonds (Provident Commonwealth Education Resource, Inc.), 5.00%, 10/01/2024 | 1,500,000 | 1,686,222 | ||||||
Massachusetts Development Finance Agency Revenue Bonds (Wellforce Issue), Series A | ||||||||
5.00%, 07/01/2033 | 500,000 | 626,614 | ||||||
5.00%, 07/01/2034 | 300,000 | 374,947 | ||||||
5,262,102 | ||||||||
Michigan (1.2%) | ||||||||
Calhoun County Hospital Finance Authority Revenue Bonds (Ella E.M. Brown Charitable Circle), 5.00%, 02/15/2024 | 500,000 | 549,727 | ||||||
Charyl Stockwell Academy Revenue Bonds, 4.88%, 10/01/2023 | 55,000 | 56,942 | ||||||
Kalamazoo Economic Development Corp. Revenue Bonds (Heritage Community of Kalamazoo Obligated Group) | ||||||||
2.63%, 05/15/2025 | 1,130,000 | 1,133,785 | ||||||
5.00%, 05/15/2032 | 1,795,000 | 2,080,293 | ||||||
Michigan Finance Authority Public School Academy Limited Revenue Bond (Cesar Chavez Academy Project), 4.00%, 02/01/2029 | 700,000 | 768,848 | ||||||
4,589,595 | ||||||||
Minnesota (1.5%) | ||||||||
Rice County Educational Facility Revenue Bonds (Shattuck-St Mary's School), Series A, 5.00%, 08/01/2022(b) | 960,000 | 1,004,494 | ||||||
Shakopee Minnesota Senior Housing Revenue Bonds (Benedictine Living Community of Shakopee LLC Project), 5.85%, 11/01/2058(a)(b) | 4,500,000 | 4,900,819 | ||||||
5,905,313 | ||||||||
Mississippi (7.7%) | ||||||||
Meridian MS Revenue Bonds, 4.20%, 03/01/2033(b) | 8,247,261 | 8,897,969 | ||||||
Mississippi Business Finance Corp. Revenue Bonds (Huntington Ingalls Industries, Inc.), 4.55%, 12/01/2028 | 980,000 | 980,242 | ||||||
Mississippi Business Finance Corp. Revenue Bonds (Mississippi Power Co.) |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
0.07%, 12/01/2027(a) | $ | 300,000 | $ | 300,000 | ||||
0.06%, 05/01/2028(a) | 4,900,000 | 4,900,000 | ||||||
Mississippi Business Finance Corp. Revenue Bonds (Mississippi Power Co.), AMT, 0.06%, 07/01/2025(a) | 7,300,000 | 7,300,000 | ||||||
Mississippi Business Finance Corp. Revenue Bonds (PSL-North America), Series A, 1.52%, 11/01/2032(a) | 5,000,000 | 5,000,000 | ||||||
Mississippi Development Bank Revenue Bonds (Hancock County Gomesa Project), 4.55%, 11/01/2039(b) | 2,000,000 | 2,277,176 | ||||||
Mississippi Pearl General Obligation Unlimited Bonds, 3.00%, 07/15/2022 | 630,000 | 629,726 | ||||||
30,285,113 | ||||||||
Missouri (1.1%) | ||||||||
Platte County Industrial Development Authority Transportation Revenue Bonds, 5.00%, 12/01/2025 | 675,000 | 324,000 | ||||||
Plaza at Noah's Ark Community Improvement District Revenue Bonds | ||||||||
3.00%, 05/01/2022 | 65,000 | 65,655 | ||||||
3.00%, 05/01/2023 | 100,000 | 102,189 | ||||||
3.00%, 05/01/2024 | 100,000 | 102,981 | ||||||
3.00%, 05/01/2025 | 100,000 | 103,552 | ||||||
3.00%, 05/01/2026 | 100,000 | 103,904 | ||||||
Saint Louis County Missouri Industrial Development Authority Revenue Bonds (Ranken-Jordan Pediatric Specialty Hospital) | ||||||||
4.00%, 11/15/2021 | 555,000 | 559,515 | ||||||
5.00%, 11/15/2022 | 625,000 | 655,473 | ||||||
State Health & Educational Facilities Authority Revenue Bond (Bethesda Health Group, Inc.) | ||||||||
3.00%, 08/01/2021 | 140,000 | 140,000 | ||||||
3.00%, 08/01/2023 | 140,000 | 147,684 | ||||||
4.00%, 08/01/2025 | 150,000 | 170,227 | ||||||
4.00%, 08/01/2027 | 440,000 | 519,988 | ||||||
4.00%, 08/01/2029 | 385,000 | 466,941 | ||||||
4.00%, 08/01/2031 | 310,000 | 383,301 | ||||||
4.00%, 08/01/2036 | 275,000 | 333,473 | ||||||
4,178,883 | ||||||||
Nebraska (0.2%) | ||||||||
Scotts Bluff County Hospital Authority Revenue Bonds (Regional West Medical Center), Series A, 5.00%, 02/01/2022 | 615,000 | 625,461 | ||||||
Nevada (0.4%) | ||||||||
City of Carson Hospital Revenue Bonds (Carson Tahoe Regional Healthcare) | ||||||||
5.00%, 09/01/2027 | 605,000 | 750,334 | ||||||
5.00%, 09/01/2029 | 620,000 | 762,825 | ||||||
Nevada Department of Business & Industry Revenue Bonds (Doral Academy of Nevada), Series A, 3.13%, 07/15/2022(b)(d) | 145,000 | 147,476 | ||||||
1,660,635 | ||||||||
New Jersey (2.8%) | ||||||||
New Jersey Economic Development Authority Revenue Bonds (Greater Brunswick Charter School Project), Series A, 4.75%, 08/01/2024(b) | 90,000 | 95,995 | ||||||
New Jersey Economic Development Authority Revenue Bonds (United Airlines, Inc.) | ||||||||
5.50%, 04/01/2028 | 55,000 | 55,203 | ||||||
Series B, AMT, 5.63%, 11/15/2030 | 455,000 | 510,148 | ||||||
New Jersey Transportation Trust Fund Authority Revenue Bonds, Series A | ||||||||
5.00%, 12/15/2032 | 2,175,000 | 2,747,421 | ||||||
4.00%, 06/15/2035 | 3,250,000 | 3,945,975 | ||||||
4.00%, 06/15/2036 | 1,165,000 | 1,410,823 | ||||||
South Jersey Port Corp. Revenue Bonds, Series B | ||||||||
5.00%, 01/01/2026 | 300,000 | 354,007 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
5.00%, 01/01/2027 | $ | 250,000 | $ | 303,388 | ||||
5.00%, 01/01/2028 | 255,000 | 317,327 | ||||||
State of New Jersey General Obligation Unlimited Bonds, Series A, 5.00%, 06/01/2029 | 1,000,000 | 1,317,453 | ||||||
11,057,740 | ||||||||
New York (10.4%) | ||||||||
Amherst Development Corp. Revenue Bonds (Daemen College) | ||||||||
5.00%, 10/01/2025 | 600,000 | 681,793 | ||||||
5.00%, 10/01/2026 | 630,000 | 731,620 | ||||||
4.00%, 10/01/2037 | 500,000 | 535,989 | ||||||
Brookhaven Local Development Corp. Revenue Bonds (Active Retirement Community, Inc.) | ||||||||
5.00%, 11/01/2021 | 300,000 | 303,479 | ||||||
5.00%, 11/01/2022 | 250,000 | 264,583 | ||||||
Buffalo & Erie County Industrial Land Development Corp. Revenue Bonds (Charter School for Applied Technologies Project), 4.00%, 06/01/2022 | 455,000 | 461,316 | ||||||
Build NYC Resource Corp. Revenue Bonds (Metropolitan Lighthouse Charter School Project), Series A | ||||||||
4.00%, 06/01/2022(b) | 190,000 | 195,277 | ||||||
5.00%, 06/01/2023(b) | 370,000 | 398,630 | ||||||
5.00%, 06/01/2024(b) | 390,000 | 434,890 | ||||||
5.00%, 06/01/2025(b) | 410,000 | 471,934 | ||||||
5.00%, 06/01/2026(b) | 430,000 | 501,640 | ||||||
5.00%, 06/01/2027(b) | 450,000 | 523,117 | ||||||
5.00%, 06/01/2032(b) | 500,000 | 572,273 | ||||||
City of Elmira General Obligation Limited Bonds | ||||||||
5.00%, 07/01/2025(b) | 1,125,000 | 1,310,796 | ||||||
5.00%, 07/01/2033(b) | 2,635,000 | 3,180,985 | ||||||
City of Ogdensburg General Obligation Limited Notes, 3.25%, 03/11/2022 | 415,849 | 416,777 | ||||||
City of Poughkeepsie General Obligation Limited Bonds, 5.00%, 06/01/2031 | 455,000 | 527,248 | ||||||
Madison Country Capital Resource Corp. Revenue Bonds (Cazenovia College Project), Series A, 5.50%, 09/01/2022 | 6,500,000 | 6,538,644 | ||||||
Metropolitan Transportation Authority Revenue Bonds | ||||||||
Series D, 5.00%, 11/15/2021 | 1,000,000 | 1,013,412 | ||||||
5.00%, 09/01/2022 | 2,000,000 | 2,102,407 | ||||||
5.00%, 11/15/2022 | 1,050,000 | 1,113,860 | ||||||
5.00%, 11/15/2035 | 4,000,000 | 4,776,965 | ||||||
Series A-2, VRN, 5.00%, 11/15/2045(a) | 1,600,000 | 2,103,827 | ||||||
Nassau County Tobacco Settlement Corp. Revenue Bonds, Series A-2, 5.25%, 06/01/2026(d) | 1,150,000 | 1,179,001 | ||||||
New York City Industrial Development Agency Revenue Bonds (Yankee Stadium LLC), (AGM), 2.50%, 03/01/2037 | 3,000,000 | 3,105,560 | ||||||
New York State Dormitory Authority Revenue Bonds (Touro College And University System Obligated Group), Series A, 4.00%, 01/01/2023 | 445,000 | 466,613 | ||||||
New York State Dormitory Authority Revenue Bonds (Yeshiva University) | ||||||||
5.00%, 09/01/2021 | 1,025,000 | 1,027,608 | ||||||
5.00%, 09/01/2022 | 1,640,000 | 1,644,085 | ||||||
5.00%, 09/01/2038 | 730,000 | 730,946 | ||||||
New York State Environmental Facilities Corp. Revenue Bonds (Casella Waste Systems, Inc.), 2.75%, 09/01/2050(a) | 1,000,000 | 1,060,641 | ||||||
New York Transportation Development Corp. Revenue Bonds (American Airlines, Inc.), | ||||||||
2.25%, 08/01/2026 | 670,000 | 694,749 | ||||||
3.00%, 08/01/2031 | 530,000 | 573,786 | ||||||
Suffolk County Economic Development Corp. Revenue Bonds (St Johnland Assisted Living, Inc.), 4.63%, 11/01/2031(b) | 1,020,000 | 1,065,455 | ||||||
Village of Johnson City General Obligation Limited Bonds | ||||||||
5.00%, 10/01/2021 | 115,000 | 115,527 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
5.00%, 10/01/2022 | $ | 115,000 | $ | 118,601 | ||||
40,944,034 | ||||||||
North Carolina (0.2%) | ||||||||
North Carolina Capital Facilities Finance Agency Revenue Bonds (Johnson & Wales University), Series A, 5.00%, 04/01/2028 | 795,000 | 850,198 | ||||||
Ohio (2.7%) | ||||||||
Buckeye Tobacco Settlement Financing Authority Tobacco Settlement Assets-Backed Revenue Bonds, 5.00%, 06/01/2055 | 7,615,000 | 8,956,011 | ||||||
Cleveland-Cuyahoga County Port Authority Revenue Bonds, 5.00%, 12/01/2028 | 225,000 | 257,766 | ||||||
Ohio Air Quality Development Authority Revenue Bonds (AK Steel Corp.), 6.75%, 06/01/2024 | 200,000 | 204,220 | ||||||
Ohio Air Quality Development Authority Revenue Bonds (Ohio Valley Electric Corp. Project), Series A | ||||||||
2.88%, 02/01/2026 | 1,000,000 | 1,069,310 | ||||||
3.25%, 09/01/2029 | 140,000 | 156,488 | ||||||
10,643,795 | ||||||||
Oregon (1.0%) | ||||||||
Port of Portland Revenue Bonds (Horizon Air Industries, Inc.), 0.06%, 06/15/2027(a) | 1,700,000 | 1,700,000 | ||||||
Yamhill County Hospital Authority Revenue Bonds (Friendsview Manor Obligated Group) | ||||||||
2.13%, 11/15/2027 | 500,000 | 501,920 | ||||||
2.50%, 11/15/2028 | 500,000 | 502,601 | ||||||
5.00%, 11/15/2036 | 875,000 | 1,058,090 | ||||||
3,762,611 | ||||||||
Pennsylvania (4.7%) | ||||||||
Allentown Neighborhood Improvement Zone Development Authority Tax Revenue Bonds, 5.00%, 05/01/2022(b) | 345,000 | 355,768 | ||||||
Coatesville School District General Obligation Limited Notes, 2.00%, 11/15/2021 | 3,000,000 | 3,007,538 | ||||||
Dauphin County General Authority Revenue Bonds (Harrisburg University of Science and Technology Project) | ||||||||
4.00%, 10/15/2022(b) | 475,000 | 482,245 | ||||||
4.25%, 10/15/2026(b) | 1,250,000 | 1,367,696 | ||||||
5.00%, 10/15/2027(b) | 1,650,000 | 1,850,532 | ||||||
5.00%, 10/15/2030(b) | 3,000,000 | 3,541,089 | ||||||
Delaware County Industrial Development Authority Revenue Bonds (CCSA Foundation), Series A, 4.38%, 06/01/2026(b) | 2,185,000 | 2,384,893 | ||||||
Indiana County Hospital Authority Revenue Bonds (Indiana Regional Medical Center), Series A, 5.00%, 06/01/2023 | 100,000 | 106,528 | ||||||
Lehigh County Industrial Development Authority Revenue Bonds (Seven Generations Charter School), 4.00%, 05/01/2031 | 680,000 | 762,225 | ||||||
Montgomery County Industrial Development Authority Revenue Bonds (Waverly Heights, Ltd. Project) | ||||||||
4.00%, 12/01/2027 | 180,000 | 209,118 | ||||||
4.00%, 12/01/2028 | 200,000 | 231,370 | ||||||
4.00%, 12/01/2029 | 100,000 | 115,265 | ||||||
4.00%, 12/01/2035 | 300,000 | 340,821 | ||||||
4.00%, 12/01/2036 | 100,000 | 113,453 | ||||||
4.00%, 12/01/2038 | 300,000 | 339,569 | ||||||
Philadelphia Authority for Industrial Development Revenue Bonds (Discovery Charter School Project), 5.00%, 04/01/2022 | 150,000 | 153,770 | ||||||
Philadelphia School District General Obligation Limited Bonds, Series F, 5.00%, 09/01/2024 | 2,000,000 | 2,283,370 | ||||||
Pottsville Hospital Facilities Authority Health Center Revenue Bonds (Lehigh Valley Health Network Obligated Group), 5.75%, 07/01/2022(b) | 55,000 | 57,824 | ||||||
Scranton School District General Obligation Limited Bonds | ||||||||
Series B, 5.00%, 06/01/2023 | 100,000 | 108,138 | ||||||
Series B, 5.00%, 06/01/2024 | 100,000 | 112,664 | ||||||
Series B, 5.00%, 06/01/2025 | 100,000 | 116,698 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
Series D, 5.00%, 06/01/2027 | $ | 345,000 | $ | 404,471 | ||||
18,445,045 | ||||||||
Puerto Rico (3.0%) | ||||||||
Commonwealth of Puerto Rico Public Improvement General Obligation Unlimited Bonds | ||||||||
(AGC-ICC), 5.50%, 07/01/2022 | 1,580,000 | 1,648,250 | ||||||
Series A, 5.00%, 07/01/2027 | 110,000 | 113,065 | ||||||
Electric Power Authority Revenue Bonds, Series V, 5.25%, 07/01/2026 | 1,290,000 | 1,380,172 | ||||||
Puerto Rico Electric Power Authority Revenue Bonds | ||||||||
Series SS, 5.00%, 07/01/2022 | 260,000 | 263,754 | ||||||
Series PP, 5.00%, 07/01/2023 | 205,000 | 208,453 | ||||||
Series SS, 5.25%, 07/01/2023(d) | 2,340,000 | 2,441,410 | ||||||
Series PP, 5.00%, 07/01/2024 | 835,000 | 853,087 | ||||||
Series UU, 5.00%, 07/01/2024 | 300,000 | 308,359 | ||||||
Puerto Rico Highway & Transportation Authority Revenue Bonds | ||||||||
Series BB, 5.25%, 07/01/2022 | 100,000 | 104,093 | ||||||
Series L, 5.25%, 07/01/2023 | 520,000 | 544,227 | ||||||
Series E, 5.50%, 07/01/2023 | 200,000 | 215,586 | ||||||
Series D, 5.00%, 07/01/2027 | 145,000 | 149,040 | ||||||
(AGM-CR), 5.50%, 07/01/2030 | 1,000,000 | 1,178,501 | ||||||
Puerto Rico Public Buildings Authority Revenue Bonds | ||||||||
6.00%, 07/01/2023(d) | 1,000,000 | 1,063,870 | ||||||
(NATL COMWLTH GTD), 6.00%, 07/01/2025 | 1,095,000 | 1,224,138 | ||||||
11,696,005 | ||||||||
Rhode Island (0.3%) | ||||||||
Rhode Island Health & Educational Building Corp. Revenue Bonds (Care New England Health System Obligated Group), Series B | ||||||||
5.00%, 09/01/2022 | 680,000 | 708,341 | ||||||
5.00%, 09/01/2023 | 500,000 | 539,740 | ||||||
1,248,081 | ||||||||
South Carolina (1.4%) | ||||||||
South Carolina Jobs-Economic Development Authority Revenue Bonds (Last Step Recycling LLC), | ||||||||
6.00%, 06/01/2031(b) | 2,915,000 | 3,033,776 | ||||||
6.25%, 06/01/2040(b) | 2,000,000 | 2,105,386 | ||||||
South Carolina Jobs-Economic Development Authority Revenue Bonds (RePower South Berkeley LLC), 5.25%, 02/01/2027(b)(e) | 1,060,000 | 424,000 | ||||||
5,563,162 | ||||||||
Tennessee (0.9%) | ||||||||
Metropolitan Government Nashville & Davidson Health & Educational Facilities Revenue Bonds (Trevecca Nazarene University Project) | ||||||||
4.00%, 10/01/2023 | 135,000 | 145,022 | ||||||
4.00%, 10/01/2024 | 170,000 | 187,865 | ||||||
4.00%, 10/01/2025 | 175,000 | 198,278 | ||||||
4.00%, 10/01/2026 | 150,000 | 173,660 | ||||||
4.00%, 10/01/2027 | 195,000 | 229,821 | ||||||
4.00%, 10/01/2028 | 200,000 | 239,736 | ||||||
4.00%, 10/01/2029 | 200,000 | 238,054 | ||||||
5.00%, 10/01/2029 | 300,000 | 368,465 | ||||||
4.00%, 10/01/2030 | 210,000 | 248,417 | ||||||
4.00%, 10/01/2031 | 215,000 | 252,942 | ||||||
5.00%, 10/01/2034 | 90,000 | 113,940 | ||||||
4.00%, 10/01/2041 | 905,000 | 1,038,624 | ||||||
3,434,824 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
Texas (4.9%) | ||||||||
Arlington Higher Education Finance Corp. Revenue Bonds (Wayside Schools), | ||||||||
5.00%, 08/15/2022 | $ | 55,000 | $ | 57,384 | ||||
5.00%, 08/15/2023 | 155,000 | 167,841 | ||||||
5.00%, 08/15/2024 | 195,000 | 218,185 | ||||||
5.00%, 08/15/2025 | 205,000 | 236,018 | ||||||
5.00%, 08/15/2026 | 190,000 | 224,448 | ||||||
5.00%, 08/15/2027 | 200,000 | 239,460 | ||||||
5.00%, 08/15/2028 | 80,000 | 95,274 | ||||||
4.00%, 08/15/2029 | 75,000 | 84,728 | ||||||
4.00%, 08/15/2030 | 80,000 | 89,957 | ||||||
4.00%, 08/15/2031 | 90,000 | 100,991 | ||||||
4.00%, 08/15/2036 | 230,000 | 256,138 | ||||||
Bexar County Health Facilities Development Corp. Revenue Bonds (Army Retirement Residence Obligation Group) | ||||||||
5.00%, 07/15/2023 | 300,000 | 323,296 | ||||||
5.00%, 07/15/2024 | 150,000 | 167,305 | ||||||
Board of Managers Joint Guadalupe County-City of Seguin Hospital Revenue Bonds, 5.00%, 12/01/2021 | 500,000 | 506,097 | ||||||
Calhoun County Navigation Industrial Development Authority Revenue Bonds (Max Midstream Texas LLC), Series A, 3.63%, 07/01/2026(b) | 4,000,000 | 4,140,131 | ||||||
Decatur Hospital Authority Revenue Bonds, Series A | ||||||||
5.00%, 09/01/2021 | 330,000 | 331,112 | ||||||
5.00%, 09/01/2022 | 150,000 | 156,981 | ||||||
Decatur Hospital Authority Revenue Bonds (Wise Regional Health System), Series A, 5.00%, 09/01/2023 | 275,000 | 299,474 | ||||||
Harris County Cultural Education Facilities Finance Corp. Revenue Bonds (Brazos Presbyterian Homes, Inc.), 5.00%, 01/01/2027 | 895,000 | 1,008,121 | ||||||
New Hope Cultural Education Facilities Finance Corp. Revenue Bonds (Cardinal Bay, Inc.) | ||||||||
Series C, 5.00%, 07/01/2023 | 300,000 | 296,286 | ||||||
Series D, 6.00%, 07/01/2026 | 95,000 | 92,984 | ||||||
Port Beaumont Navigation District Revenue Bonds (Jefferson Railport Terminal II LLC), Series A, 3.63%, 01/01/2035(b) | 1,500,000 | 1,553,072 | ||||||
Port of Port Arthur Navigation District Revenue Bonds (Motiva Enterprises LLC), 0.05%, 04/01/2040(a) | 1,900,000 | 1,900,000 | ||||||
SA Energy Acquisition Public Facility Corp. Revenue Bonds | ||||||||
5.50%, 08/01/2022 | 80,000 | 84,196 | ||||||
5.50%, 08/01/2023 | 50,000 | 55,142 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. Revenue Bonds (Buckingham Senior Living Community, Inc.) | ||||||||
Series A, 4.50%, 11/15/2021(c)(e) | 695,000 | 382,250 | ||||||
Series B-1, 5.63%, 11/15/2024 | 1,470,000 | 1,473,091 | ||||||
Texas Municipal Gas Acquisition & Supply Corp. I Revenue Bonds | ||||||||
Series C, 1.53%, 12/15/2026(a)(d) | 1,500,000 | 1,500,179 | ||||||
Series D, 6.25%, 12/15/2026 | 2,050,000 | 2,416,590 | ||||||
Texas Municipal Gas Acquisition & Supply Corp. III Revenue Bonds | ||||||||
5.00%, 12/15/2029 | 250,000 | 327,610 | ||||||
5.00%, 12/15/2030 | 375,000 | 500,354 | ||||||
Texas Public Finance Authority Revenue Bonds (Texas Southern University), 5.00%, 11/01/2021 | 100,000 | 101,144 | ||||||
19,385,839 | ||||||||
U. S. Virgin Islands (0.3%) | ||||||||
Virgin Islands Public Finance Authority Revenue Bonds, Series A, 5.00%, 10/01/2032 | 1,210,000 | 1,262,856 | ||||||
Utah (3.0%) | ||||||||
Utah Charter School Finance Authority Revenue Bonds (Esperanza Elementary School), Series A | ||||||||
4.50%, 10/15/2028(b) | 500,000 | 518,754 | ||||||
4.63%, 10/15/2048(a)(b) | 1,000,000 | 1,029,998 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
Utah Charter School Finance Authority Revenue Bonds (Freedom Academy Foundation), 3.25%, 06/15/2031(b) | $ | 535,000 | $ | 565,082 | ||||
Utah Charter School Finance Authority Revenue Bonds (Scholar Academy), Series A, 4.50%, 04/15/2048(a)(b) | 3,000,000 | 3,096,937 | ||||||
Utah Charter School Finance Authority Revenue Bonds (Wasatch Waldorf Charter School, Inc.), Series A, 4.75%, 05/15/2048(a)(b) | 4,310,000 | 4,410,399 | ||||||
Utah Water Finance Agency Revenue Bonds, Series B, 0.05%, 10/01/2037(a) | 2,145,000 | 2,145,000 | ||||||
11,766,170 | ||||||||
Washington (1.1%) | ||||||||
State Housing Finance Commission Revenue Bonds (Transforming Age Project), Series A | ||||||||
5.00%, 01/01/2024(b) | 180,000 | 195,667 | ||||||
5.00%, 01/01/2028(b) | 440,000 | 522,124 | ||||||
5.00%, 01/01/2029(b) | 465,000 | 550,081 | ||||||
5.00%, 01/01/2034(b) | 745,000 | 866,239 | ||||||
Washington State Housing Finance Commission Revenue Bonds (Mirabella), 6.00%, 10/01/2022(b) | 535,000 | 555,618 | ||||||
Washington State Housing Finance Commission Revenue Bonds (Presbyterian Retirement Communities Northwest Obligated Group), 5.00%, 01/01/2023(b) | 35,000 | 36,046 | ||||||
Washington State Housing Finance Commission Revenue Bonds (Spokane International Academy), Series A | ||||||||
4.00%, 07/01/2025(b) | 355,000 | 389,438 | ||||||
4.00%, 07/01/2026(b) | 285,000 | 317,608 | ||||||
4.00%, 07/01/2027(b) | 295,000 | 332,116 | ||||||
4.00%, 07/01/2028(b) | 305,000 | 345,872 | ||||||
4.00%, 07/01/2029(b) | 320,000 | 364,349 | ||||||
4,475,158 | ||||||||
West Virginia (0.4%) | ||||||||
Glenville State College Board of Governors Revenue Bonds | ||||||||
3.25%, 06/01/2022 | 170,000 | 170,673 | ||||||
4.00%, 06/01/2027 | 250,000 | 258,211 | ||||||
Ohio County Development Authority Revenue Bonds (Ohio County Sport Complex Project), 4.00%, 09/01/2023 | 1,235,000 | 1,243,453 | ||||||
1,672,337 | ||||||||
Wisconsin (5.0%) | ||||||||
Public Finance Authority Revenue Bonds | ||||||||
Series A, 5.00%, 10/01/2024(b) | 2,100,000 | 2,360,711 | ||||||
6.00%, 01/01/2027 | 4,100,000 | 4,275,240 | ||||||
Series A, 5.00%, 10/01/2029(b) | 500,000 | 631,750 | ||||||
Public Finance Authority Revenue Bonds (Masonic & Eastern Star Home of NC, Inc.) | ||||||||
Series B-2, 3.00%, 03/01/2026(b) | 790,000 | 790,846 | ||||||
3.50%, 03/01/2027(b) | 4,000,000 | 4,004,587 | ||||||
Public Finance Authority Revenue Bonds (Washoe Barton Medical Clinic), Series A | ||||||||
3.00%, 12/01/2026 | 250,000 | 270,671 | ||||||
4.00%, 12/01/2031 | 700,000 | 850,809 | ||||||
Public Finance Authority Revenue Bonds (Wonderful Foundations Charter School Holdings LLC), Series A-1, 4.50%, 01/01/2035(b) | 1,000,000 | 1,154,542 | ||||||
Wisconsin Health & Educational Facilities Authority Revenue Bond | ||||||||
5.00%, 11/01/2022 | 120,000 | 123,873 | ||||||
5.00%, 11/01/2023 | 360,000 | 380,077 | ||||||
Wisconsin Public Finance Authority Educational Facilities Revenue Bonds (Barton College), Series A | ||||||||
5.00%, 03/01/2023 | 850,000 | 870,501 | ||||||
5.00%, 03/01/2028 | 1,190,000 | 1,309,954 | ||||||
Wisconsin Public Finance Authority Educational Facilities Revenue Bonds (Guilford College) | ||||||||
5.00%, 01/01/2026 | 685,000 | 767,954 | ||||||
5.00%, 01/01/2027 | 830,000 | 936,783 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen Short Duration High Yield Municipal Fund
Wisconsin Public Finance Authority Educational Facilities Revenue Bonds (Piedmont Community Charter School) | ||||||||
5.00%, 06/15/2022 | $ | 185,000 | $ | 190,479 | ||||
5.00%, 06/15/2024 | 210,000 | 232,994 | ||||||
5.00%, 06/15/2026 | 230,000 | 269,015 | ||||||
5.00%, 06/15/2027 | 160,000 | 191,408 | ||||||
Wisconsin Public Finance Authority Revenue Bonds (Roseman University of Health Sciences), 5.00%, 04/01/2022 | 100,000 | 102,702 | ||||||
19,714,896 | ||||||||
Total Municipal Bonds | 397,394,943 | |||||||
Total Investments (Cost $383,507,339) —100.9% | 397,394,943 | |||||||
Liabilities in Excess of Other Assets—(0.9)% | (3,523,720 | ) | ||||||
Net Assets—100.0% | $ | 393,871,223 |
(a) | Variable Rate Instrument. The rate shown is based on the latest available information as of July 31, 2021. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(b) | Denotes a security issued under Regulation S or Rule 144A. |
(c) | Illiquid security. |
(d) | All or a portion of the security has been designated as collateral for when issued trading. When-issued trading is trading in securities that have been authorized but not yet been issued. |
(e) | Security is in default. |
See accompanying Notes to Statements of Investments.
Statement of Investments
July 31, 2021 (Unaudited)
Aberdeen Ultra Short Municipal Income Fund
Shares or Principal Amount | Value (US$) | |||||||
MUNICIPAL BONDS (101.4%) | ||||||||
Alabama (5.7%) | ||||||||
Black Belt Energy Gas District Revenue Bonds, FRN, 0.97%, 12/01/2048(a) | $ | 20,000,000 | $ | 20,166,540 | ||||
Health Care Authority for Baptist Health Revenue Bonds, Series B | ||||||||
0.25%, 11/15/2037(a) | 13,600,000 | 13,600,000 | ||||||
0.17%, 11/01/2042(a) | 19,100,000 | 19,100,000 | ||||||
Lower Alabama Gas District Revenue Bonds, VRN, 4.00%, 12/01/2050(a) | 5,895,000 | 6,730,004 | ||||||
59,596,544 | ||||||||
Arizona (0.8%) | ||||||||
Cochise County Pollution Control Corp. Revenue Bonds (Arizona Electric Power Cooperative, Inc.), 0.35%, 09/01/2024(a) | 7,900,000 | 7,900,723 | ||||||
Pinal County Industrial Development Authority Revenue Bonds (State of Arizona Department of Corrections), 4.00%, 10/01/2021 | 1,000,000 | 1,004,735 | ||||||
8,905,458 | ||||||||
California (7.4%) | ||||||||
California Infrastructure & Economic Development Bank Revenue Bonds (DesertXpress Enterprises LLC), AMT, FRN, 0.20%, 01/01/2050(a)(b) | 15,000,000 | 15,002,710 | ||||||
California Pollution Control Financing Authority Revenue Bonds (Republic Services, Inc.) | ||||||||
Series A, 0.20%, 08/01/2023(a) | 13,000,000 | 13,000,000 | ||||||
Series 2017-A1, 0.20%, 11/01/2042(a)(b) | 3,000,000 | 3,000,164 | ||||||
California Statewide Communities Development Authority Revenue Bonds (Birchcrest Preservation LP), 0.07%, 08/01/2032(a) | 25,000 | 25,000 | ||||||
California Statewide Communities Development Authority Revenue Bonds (Catholic Healthcare West), Series E, 0.16%, 07/01/2040(a) | 1,875,000 | 1,875,000 | ||||||
California Statewide Communities Development Authority Revenue Bonds (CommonSpirit Health Obligated Group), Series F, 0.19%, 07/01/2040(a) | 1,400,000 | 1,400,000 | ||||||
California Statewide Communities Development Authority Revenue Bonds (Dignity Health Obligated Group), Series D, 0.14%, 07/01/2041(a) | 900,000 | 900,000 | ||||||
California Statewide Communities Development Authority Revenue Bonds (Westgate Pasadena Apartments Project), Series B, 0.18%, 04/01/2042(a) | 8,935,000 | 8,935,000 | ||||||
Contra Costa Country California School Tax and Revenue Anticipation Notes, 2.00%, 12/01/2021 | 4,500,000 | 4,524,735 | ||||||
Palomar Pomerado Health Care Certificates of Participation | ||||||||
Series A, 0.72%, 11/01/2036(a) | 6,050,000 | 6,050,000 | ||||||
Series B, 0.72%, 11/01/2036(a) | 3,200,000 | 3,200,000 | ||||||
Series C, 0.73%, 11/01/2036(a) | 18,425,000 | 18,425,000 | ||||||
Tender Option Bond Trust Receipts Revenue Bonds, VRDN, 0.20%, 02/01/2036(a)(b) | 740,000 | 740,000 | ||||||
77,077,609 | ||||||||
Colorado (0.1%) | ||||||||
E-470 Public Highway Authority Revenue Bonds, Series B, FRN, 0.38%, 09/01/2039(a) | 1,500,000 | 1,502,039 | ||||||
Connecticut (1.1%) | ||||||||
City of Bridgeport General Obligation Unlimited Notes, 1.50%, 12/09/2021 | 4,200,000 | 4,213,968 | ||||||
City of West Haven General Obligation Unlimited Bonds, Series B, 2.00%, 09/30/2021 | 4,800,000 | 4,809,505 | ||||||
East Hartford Conn Housing Authority Multi Family Housing Revenue Bonds (Veterans Terrace Project), 0.25%, 06/01/2023(a) | 2,100,000 | 2,100,546 | ||||||
11,124,019 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Ultra Short Municipal Income Fund
Delaware (0.6%) | ||||||||
Delaware State Economic Development Authority Revenue Bonds (Delmarva Power & Light Co.), 0.09%, 10/01/2029(a) | $ | 4,400,000 | $ | 4,400,000 | ||||
Sussex County Revenue Bonds (Baywood LLC), Series A, 0.11%, 11/01/2027(a) | 1,800,000 | 1,800,000 | ||||||
6,200,000 | ||||||||
Florida (3.0%) | ||||||||
County of Bay Revenue Bonds (Florida Power & Light Co.), 0.05%, 06/01/2050(a) | 4,900,000 | 4,900,000 | ||||||
Florida Development Finance Corp. Revenue Bonds (Shands Jacksonville Medical Center Obligated Group), Series B, 0.28%, 02/01/2029(a) | 16,002,000 | 16,002,000 | ||||||
Miami-Dade County Industrial Development Authority Revenue Bonds (Waste Management, Inc.), AMT, FRN | ||||||||
0.40%, 11/01/2033(a) | 3,000,000 | 3,000,018 | ||||||
0.40%, 11/01/2048(a) | 2,000,000 | 2,000,012 | ||||||
Miami-Dade County Industrial Development Authority Solid Waste Disposal Revenue Bonds (Waste Management, Inc.) | ||||||||
0.40%, 08/01/2023 | 2,750,000 | 2,750,000 | ||||||
0.55%, 11/01/2041(a) | 2,750,000 | 2,752,801 | ||||||
31,404,831 | ||||||||
Illinois (1.8%) | ||||||||
Illinois Finance Authority Solid Waste Disposal Revenue Bonds (Waste Management, Inc.), 0.55%, 11/01/2044(a) | 6,000,000 | 6,006,111 | ||||||
State of Illinois, Series A, 5.00%, 10/01/2021 | 750,000 | 755,905 | ||||||
State of Illinois General Obligation Bonds, Series C | ||||||||
4.00%, 03/01/2022 | 5,000,000 | 5,110,744 | ||||||
4.00%, 03/01/2023 | 5,000,000 | 5,292,606 | ||||||
State of Illinois General Obligation Unlimited Bonds, Series A, 5.00%, 10/01/2023 | 1,030,000 | 1,133,139 | ||||||
18,298,505 | ||||||||
Indiana (3.8%) | ||||||||
Hammond Local Public Improvement Bond Bank Revenue Bonds, 2.00%, 12/31/2021 | 1,170,000 | 1,176,154 | ||||||
Indiana Finance Authority Environmental Improvement Revenue Bonds (ArcelorMittal USA, Inc.), 0.07%, 08/01/2030(a) | 38,000,000 | 38,000,000 | ||||||
39,176,154 | ||||||||
Kansas (2.7%) | ||||||||
City of Bel Aire KS General Obligation Unlimited Bonds, Series B, 0.38%, 12/01/2024 | 9,610,000 | 9,612,985 | ||||||
City of Burlington Environmental Improvement Revenue Bonds (Kansas City Power & Light Co.) | ||||||||
Series A, 0.10%, 09/01/2035(a) | 5,000,000 | 5,000,000 | ||||||
Series B, 0.10%, 09/01/2035(a) | 5,000,000 | 5,000,000 | ||||||
City of Dodge City Industrial Development Revenue Bonds (National Beef Packing Co. LLC), 0.30%, 03/01/2027(a) | 1,000,000 | 1,000,000 | ||||||
City of Liberal Industrial Development Revenue Bonds (National Beef Packing Co. LLC), 0.30%, 02/01/2029(a) | 1,000,000 | 1,000,000 | ||||||
Kansas Development Finance Authority Revenue Bonds (University of Kansas) | ||||||||
5.00%, 05/01/2025 | 3,035,000 | 3,572,712 | ||||||
5.00%, 05/01/2026 | 2,185,000 | 2,659,192 | ||||||
27,844,889 | ||||||||
Kentucky (3.6%) | ||||||||
County of Meade, Kentucky (Nucor Steel Brandenburg Project) Series 2020A-1 Industrial Building Revenue Bonds, AMT, VRDN, 0.08%, 07/01/2060(a) | 3,500,000 | 3,500,000 | ||||||
County of Meade, Kentucky (Nucor Steel Brandenburg Project) Series 2020B-1 Industrial Building Revenue Bonds, AMT, VRDN, 0.08%, 07/01/2060(a) | 14,000,000 | 14,000,000 | ||||||
Kentucky Economic Development Finance Authority Revenue Bonds (Masonic Homes of Kentucky, Inc.), Series C, 0.09%, 05/01/2034(a) | 10,300,000 | 10,300,000 | ||||||
Kentucky Public Energy Authority Revenue Bonds, Series A, 4.00%, 04/01/2048(a) | 2,300,000 | 2,507,834 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Ultra Short Municipal Income Fund
Louisville Regional Airport Authority Revenue Bonds (BT-OH LLC), Series A, AMT, VRDN, 0.06%, 11/01/2036(a) | $ | 5,600,000 | $ | 5,600,000 | ||||
Pulaski County Solid Waste Disposal Revenue Bonds (East Kentucky Power Cooperative, Inc.), Series B, 0.30%, 08/15/2023(a) | 2,100,000 | 2,100,026 | ||||||
38,007,860 | ||||||||
Louisiana (0.8%) | ||||||||
Louisiana Public Facilities Authority Revenue Bonds (St Mary's Dominican High School Corp.), Series B, 0.15%, 07/01/2033(a) | 135,000 | 135,000 | ||||||
North Webster Parish Industrial District Revenue Bonds (Continental Structural Plastics of Louisiana LLC), 2.00%, 09/01/2021(a) | 250,000 | 250,000 | ||||||
Plaquemines Port Harbor & Terminal District Revenue Bonds (International Marine Terminal Partnership Project), Series A, 0.35%, 03/15/2025(a) | 7,500,000 | 7,501,252 | ||||||
7,886,252 | ||||||||
Maryland (4.7%) | ||||||||
Maryland Economic Development Corp. Revenue Bonds (Linemark Printing/501 Prince George's Boulevard Obligated Group), 0.22%, 12/01/2033(a) | 5,470,000 | 5,470,000 | ||||||
Maryland Industrial Development Financing Authority Revenue Bonds (Occidental Petroleum Corp.), 1.30%, 03/01/2030(a) | 42,405,000 | 42,405,000 | ||||||
Washington County Revenue Bonds (Conservit, Inc.), 0.22%, 02/01/2023(a) | 830,000 | 830,000 | ||||||
48,705,000 | ||||||||
Michigan (0.7%) | ||||||||
Michigan Strategic Fund Tax-Exempt Adjustable Mode Exempt Facilities Revenue Bonds (Waste Management, Inc.), AMT, VRN, 0.58%, 08/01/2027(a) | 500,000 | 500,000 | ||||||
Waterford School District General Obligation Limited Bonds, 4.00%, 08/24/2021 | 7,120,000 | 7,135,944 | ||||||
7,635,944 | ||||||||
Mississippi (7.3%) | ||||||||
Mississippi Business Finance Corp. Gulf Opportunity Zone Revenue Bonds, Series C, 0.25%, 05/01/2037(a) | 7,230,000 | 7,230,827 | ||||||
Mississippi Business Finance Corp. Revenue Bonds (Mississippi Power Co.) | ||||||||
0.07%, 12/01/2027(a) | 1,500,000 | 1,500,000 | ||||||
0.06%, 05/01/2028(a) | 2,500,000 | 2,500,000 | ||||||
Mississippi Business Finance Corp. Revenue Bonds (Mississippi Power Co.), AMT, 0.06%, 07/01/2025(a) | 300,000 | 300,000 | ||||||
Mississippi Business Finance Corp. Revenue Bonds (PSL-North America), Series A, 1.52%, 11/01/2032(a) | 62,000,000 | 62,000,000 | ||||||
Mississippi Business Finance Corp. Revenue Bonds (Tri-State Truck Center, Inc.), 0.15%, 03/01/2033(a) | 2,300,000 | 2,300,000 | ||||||
75,830,827 | ||||||||
Montana (0.5%) | ||||||||
Mizuho Floater/Residual Trust Revenue Bonds, VRDN | ||||||||
0.27%, 06/01/2034(a)(b) | 1,110,000 | 1,110,000 | ||||||
0.27%, 06/01/2034(a)(b) | 4,510,000 | 4,510,000 | ||||||
5,620,000 | ||||||||
Nevada (0.4%) | ||||||||
State of Nevada Department of Business & Industry Revenue Bonds (Republic Services, Inc.), 0.25%, 12/01/2026(a)(b) | 4,200,000 | 4,201,328 | ||||||
New Jersey (6.2%) | ||||||||
Bordentown Sewage Authority Revenue Bonds, Series J, (BAM), 5.00%, 12/01/2021 | 500,000 | 507,400 | ||||||
Borough of Bloomingdale NJ General Obligation Unlimited Notes, 1.50%, 02/24/2022 | 7,592,200 | 7,651,198 | ||||||
Borough of East Rutherford NJ General Obligation Unlimited Notes, 2.00%, 04/07/2022 | 5,895,075 | 5,965,812 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Ultra Short Municipal Income Fund
Borough of Raritan NJ General Obligation Unlimited Notes, Series A, 1.50%, 07/07/2022 | $ | 5,692,027 | $ | 5,761,093 | ||||
Borough of Seaside Heights NJ General Obligation Unlimited Notes, Series B, 1.00%, 03/31/2022 | 7,354,325 | 7,392,640 | ||||||
Borough of Westville NJ General Obligation Unlimited Notes, Series A, 2.00%, 04/28/2022 | 5,090,000 | 5,158,208 | ||||||
City of Newark General Obligation Unlimited Bonds | ||||||||
Series B, 2.00%, 10/05/2021 | 1,160,000 | 1,163,723 | ||||||
Series C, 2.00%, 10/05/2021 | 4,200,000 | 4,213,482 | ||||||
City of Newark NJ General Obligation Unlimited Notes, Series C, 1.25%, 07/25/2022 | 4,582,031 | 4,628,947 | ||||||
City of Orange Township NJ General Obligation Unlimited Notes, Series A, 1.00%, 03/31/2022 | 5,000,000 | 5,020,057 | ||||||
Gloucester County Improvement Authority Revenue Bonds (Rowan University), 0.60%, 03/01/2024 | 2,325,000 | 2,327,191 | ||||||
Tender Option Bond Trust Receipts Revenue Bonds, VRDN, 0.17%, 12/15/2028(a)(b) | 4,835,000 | 4,835,000 | ||||||
Township of Irvington NJ General Obligation Unlimited Notes, 2.00%, 05/19/2022 | 9,720,952 | 9,843,494 | ||||||
64,468,245 | ||||||||
New York (20.6%) | ||||||||
City of Cortland General Obligation Unlimited Notes, 1.25%, 11/12/2021 | 7,045,000 | 7,063,870 | ||||||
City of Dunkirk School District New York Revenue Anticipation Notes, 1.00%, 06/29/2022 | 2,400,000 | 2,418,000 | ||||||
City of Elmira General Obligation Limited Bonds | ||||||||
4.00%, 05/01/2022 | 845,000 | 866,820 | ||||||
2.00%, 05/01/2023 | 455,000 | 467,017 | ||||||
4.00%, 05/01/2024 | 675,000 | 737,152 | ||||||
City of Long Beach General Obligation Limited Notes, 1.50%, 02/22/2022 | 4,250,000 | 4,274,156 | ||||||
City of New York General Obligation Limited Bonds, VRDN | ||||||||
0.12%, 04/01/2042(a) | 5,000,000 | 5,000,000 | ||||||
0.12%, 04/01/2042(a) | 4,000,000 | 4,000,000 | ||||||
City of Newburgh General Obligation limited Notes, Series A, 1.00%, 07/29/2022 | 4,670,000 | 4,699,828 | ||||||
City of Schenectady General Obligation Limited Notes, 1.00%, 05/06/2022 | 7,447,551 | 7,492,029 | ||||||
City of Tonawanda NY General Obligation limited Notes, 1.00%, 06/02/2022 | 6,878,000 | 6,921,245 | ||||||
County of Lawrence Norwood-Norfolk central School District New York Revenue Anticipation Notes, 1.00%, 07/27/2022 | 6,962,040 | 7,016,622 | ||||||
County of Monroe Henriette Fire District New York Revenue Anticipation Notes, 1.00%, 08/10/2022 | 4,800,000 | 4,838,160 | ||||||
County of Suffolk New York General Obligation Limited Bonds | ||||||||
2.00%, 08/19/2021 | 3,500,000 | 3,502,912 | ||||||
2.00%, 09/24/2021 | 12,000,000 | 12,030,918 | ||||||
County of Ulster central School District New York Revenue Anticipation Notes, 1.00%, 06/28/2022 | 5,000,000 | 5,037,350 | ||||||
East Ramapo central School District New York Revenue Anticipation Notes, 1.25%, 05/05/2022 | 2,000,000 | 2,014,620 | ||||||
East Ramapo central School District New York Revenue Budget Notes, 1.25%, 05/05/2022 | 1,100,000 | 1,108,041 | ||||||
Hastings-On-Hudson Union Free School District General Obligation Unlimited Notes, 1.50%, 03/04/2022 | 15,000,000 | 15,121,442 | ||||||
Hempstead Union Free School District General Obligation Unlimited Notes | ||||||||
Series A, 1.00%, 06/30/2022 | 6,000,000 | 6,041,792 | ||||||
Series B, 1.00%, 07/13/2022 | 4,000,000 | 4,028,965 | ||||||
Metropolitan Transportation Authority Revenue Bonds | ||||||||
Series C-2, 5.00%, 09/01/2021 | 1,250,000 | 1,254,671 | ||||||
5.00%, 11/15/2021 | 1,000,000 | 1,013,412 | ||||||
Series B, 5.00%, 11/15/2021 | 700,000 | 709,388 | ||||||
Series D, 5.00%, 11/15/2021 | 700,000 | 709,388 | ||||||
Series F, 5.00%, 11/15/2021 | 1,000,000 | 1,013,412 | ||||||
4.00%, 02/01/2022 | 14,550,000 | 14,818,685 | ||||||
Series B-1, 5.00%, 05/15/2022 | 10,000,000 | 10,372,152 | ||||||
5.00%, 09/01/2022 | 11,010,000 | 11,573,748 | ||||||
FRN, 0.36%, 11/01/2035(a) | 5,000,000 | 5,002,537 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Ultra Short Municipal Income Fund
New York City General Obligation Unlimited Bonds | ||||||||
Series A-4, 0.17%, 08/01/2026(a) | $ | 4,475,000 | $ | 4,475,000 | ||||
Series C-4, 0.17%, 10/01/2027(a) | 12,100,000 | 12,100,000 | ||||||
Series J-3, 0.17%, 06/01/2036(a) | 18,175,000 | 18,175,000 | ||||||
Series J-2, 0.18%, 06/01/2036(a) | 1,750,000 | 1,750,000 | ||||||
New York City Industrial Development Agency Revenue Bonds (Novelty Crystal Corp.), 0.47%, 12/01/2034(a) | 1,200,000 | 1,200,000 | ||||||
New York Transportation Development Corp. Revenue Bonds (Delta Air Lines, Inc.), AMT, 5.00%, 01/01/2024 | 1,500,000 | 1,664,246 | ||||||
Oneida County Industrial Development Agency Revenue Bonds (Champion Home Builders Co. Facility), 0.25%, 06/01/2029(a) | 6,820,000 | 6,820,000 | ||||||
Triborough Bridge & Tunnel Authority Revenue Bonds, Series B4A, 0.41%, 01/01/2032(a) | 4,000,000 | 4,000,385 | ||||||
Village of Clayton NY General Obligation Limited Bonds, 2.00%, 10/21/2021 | 2,925,000 | 2,934,637 | ||||||
Village of Johnson City General Obligation Limited Bonds, 1.50%, 10/01/2021 | 9,609,886 | 9,623,933 | ||||||
213,891,533 | ||||||||
North Carolina (0.2%) | ||||||||
Fayetteville State University Revenue Bonds, (AGM) | ||||||||
5.00%, 04/01/2022(b) | 525,000 | 541,630 | ||||||
5.00%, 04/01/2023(b) | 405,000 | 436,815 | ||||||
5.00%, 04/01/2024(b) | 425,000 | 476,421 | ||||||
5.00%, 04/01/2026(b) | 470,000 | 564,409 | ||||||
2,019,275 | ||||||||
Ohio (0.4%) | ||||||||
Toledo-Lucas County Port Authority Revenue Bonds (CSX Transportation, Inc.), 6.45%, 12/15/2021 | 3,950,000 | 4,038,141 | ||||||
Oklahoma (3.4%) | ||||||||
Oklahoma Development Finance Authority Revenue Bonds (Gilcrease Developers LLC), AMT, 1.63%, 07/06/2023 | 2,000,000 | 2,021,612 | ||||||
Oklahoma Development Finance Authority Revenue Bonds (INTEGRIS Health Obligated Group ), VRDN | ||||||||
0.10%, 08/15/2031(a) | 19,750,000 | 19,750,000 | ||||||
0.10%, 08/15/2031(a) | 13,770,000 | 13,770,000 | ||||||
35,541,612 | ||||||||
Oregon (0.0%) | ||||||||
Port of Portland Revenue Bonds (Horizon Air Industries, Inc.), 0.06%, 06/15/2027(a) | 100,000 | 100,000 | ||||||
Pennsylvania (9.0%) | ||||||||
Delaware Valley Regional Finance Authority Local Government Revenue Bonds, 2020 Series C, R-Floats Weekly Rate Mode (Pa), 0.08%, 11/01/2055(a) | 3,900,000 | 3,900,000 | ||||||
Franklin County Industrial Development Authority Revenue Bonds (Precast System LLC), Series A, 0.30%, 11/01/2021(a) | 50,000 | 50,000 | ||||||
Montgomery County Higher Education and Health Authority Thomas Jefferson University Variable Rate Revenue Bonds, VRDN, 0.10%, 09/01/2050(a)(c) | 48,030,000 | 48,030,000 | ||||||
Pennsylvania Economic Development Financing Authority Revenue Bonds (Republic Services, Inc.), Series B, 0.20%, 04/01/2049(a) | 2,000,000 | 2,000,109 | ||||||
Pennsylvania Economic Development Financing Authority Solid Waste Disposal Revenue Bonds (Waste Management PA Obligated Group) | ||||||||
Series A, AMT, VRN, 0.58%, 08/01/2037(a) | 2,500,000 | 2,500,000 | ||||||
0.20%, 08/01/2045(a) | 26,750,000 | 26,750,000 | ||||||
Philadelphia Authority for Industrial Development Revenue Bonds (Thomas Jefferson University Obligated Group), Series 2017B, 0.10%, 09/01/2050(a) | 10,000,000 | 10,000,000 | ||||||
93,230,109 |
See accompanying Notes to Statements of Investments.
Statement of Investments (continued)
July 31, 2021 (Unaudited)
Aberdeen Ultra Short Municipal Income Fund
South Carolina (0.2%) | ||||||||
South Carolina Jobs-Economic Development Authority Revenue Bonds (Prisma Health Obligated Group), VRDN, 0.10%, 05/01/2048(a) | $ | 2,225,000 | $ | 2,225,000 | ||||
Tennessee (1.0%) | ||||||||
Lewisburg Industrial Development Board Revenue Bonds (Waste Management Inc of Tennessee), 0.20%, 07/02/2035(a) | 9,000,000 | 9,000,000 | ||||||
Nashville & Davidson Industrial Development Board Revenue Bonds (Waste Management Inc of Tennessee), 0.58%, 08/01/2031(a) | 350,000 | 350,000 | ||||||
Wilson County Industrial Development Board Revenue Bonds (Kenwal Steel Tennessee LLC), 0.35%, 06/01/2037(a) | 830,000 | 830,000 | ||||||
10,180,000 | ||||||||
Texas (8.5%) | ||||||||
Angelina & Neches River Authority Revenue Bonds (Jefferson Enterprise Energy LLC), AMT, VRN | ||||||||
0.35%, 12/01/2045(a)(b) | 7,500,000 | 7,507,662 | ||||||
0.45%, 12/01/2045(a) | 8,000,000 | 8,016,686 | ||||||
City of Houston TX Hotel Occupancy Tax & Revenue Bonds | ||||||||
4.00%, 09/01/2022 | 180,000 | 187,285 | ||||||
4.00%, 09/01/2023 | 180,000 | 193,829 | ||||||
4.00%, 09/01/2025 | 425,000 | 483,261 | ||||||
Mission Economic Development Corp. Solid Waste Disposal Revenue Bonds (Republic Services, Inc.) | ||||||||
0.20%, 01/01/2026(a) | 1,000,000 | 1,000,000 | ||||||
AMT, FRN, 0.20%, 05/01/2050(a) | 44,000,000 | 44,000,000 | ||||||
Port of Corpus Christi Authority of Nueces County Solid Waste Disposal Revenue Bonds (Flint Hills Resources LP) | ||||||||
0.10%, 04/01/2028(a) | 7,000,000 | 7,000,000 | ||||||
0.10%, 01/01/2030(a) | 11,800,000 | 11,800,000 | ||||||
Texas Municipal Gas Acquisition & Supply Corp III Revenue Bonds | ||||||||
5.00%, 12/15/2021 | 1,150,000 | 1,170,032 | ||||||
5.00%, 12/15/2022 | 1,150,000 | 1,224,100 | ||||||
5.00%, 12/15/2025 | 4,600,000 | 5,479,909 | ||||||
88,062,764 | ||||||||
West Virginia (1.2%) | ||||||||
West Virginia Hospital Finance Authority Revenue Bonds (West Virginia United Health System Obligated Group), Series E, 0.09%, 06/01/2033(a) | 12,230,000 | 12,230,000 | ||||||
Wisconsin (5.7%) | ||||||||
City of Superior WI Revenue Bonds (DTE Electric Co.), 6.90%, 08/01/2021 | 12,000,000 | 12,000,000 | ||||||
Public Finance Authority Revenue Bonds (Waste Management, Inc.) | ||||||||
Series A-1, 0.20%, 06/01/2023(a) | 5,500,000 | 5,500,000 | ||||||
0.20%, 10/01/2025(a) | 14,300,000 | 14,300,000 | ||||||
0.30%, 09/01/2027(a) | 1,000,000 | 1,000,000 | ||||||
Tender Option Bond Trust Receipts Revenue Bonds, VRDN, 0.20%, 12/15/2040(a)(b) | 2,230,000 | 2,230,000 | ||||||
Wisconsin Health & Educational Facilities Authority Revenue Bonds, 0.11%, 02/15/2053(a) | 24,095,000 | 24,095,000 | ||||||
59,125,000 | ||||||||
Total Municipal Bonds | 1,054,128,938 | |||||||
SHORT-TERM INVESTMENT (3.7%) | ||||||||
UNITED STATES (3.7%) | ||||||||
Mercer County Pollution Control Revenue Commercial Paper Notes, 0.13%, 08/10/2021 | 13,600,000 | 13,600,000 | ||||||
Mercer County Pollution Control Revenue Commercial Paper Notes, 0.13%, 08/10/2021 | 10,000,000 | 10,000,000 | ||||||
Mercer County Pollution Control Revenue Commercial Paper Notes, 0.12%, 08/10/2021 | 14,465,000 | 14,465,000 | ||||||
Mercer County Pollution Control Revenue Commercial Paper Notes, 0.13%, 08/10/2021 | 200,000 | 200,000 |
See accompanying Notes to Statements of Investments.
Statement of Investments (concluded)
July 31, 2021 (Unaudited)
Aberdeen Ultra Short Municipal Income Fund
Total Short-Term Investment | 38,265,000 | |||
Total Investments (Cost $1,091,458,929) —105.1% | 1,092,393,938 | |||
Liabilities in Excess of Other Assets—(5.1)% | (53,175,320 | ) | ||
Net Assets—100.0% | $ | 1,039,218,618 |
(a) | Variable Rate Instrument. The rate shown is based on the latest available information as of July 31, 2021. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(b) | Denotes a security issued under Regulation S or Rule 144A. |
(c) | Illiquid security. |
FRN | Floating Rate Note |
See accompanying Notes to Statements of Investments.
Notes to Statements of Investments (unaudited)
July 31, 2021
1. Summary of Significant Accounting Policies
The following is a summary of significant accounting policies followed by the Aberdeen Funds (the "Trust" and each of its series a “Fund,” or collectively, the “Funds”) in the preparation of their financial statements. The policies conform to accounting principles generally accepted in the United States of America (“GAAP”). The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expenses for the period. Actual results could differ from those estimates. The accounting records of the Funds are maintained in U.S. Dollars.
a. Security Valuation
The Funds value their securities at current market value or fair value, consistent with regulatory requirements. “Fair value” is defined in the Funds’ Valuation and Liquidity Procedures as the price that could be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants without a compulsion to transact at the measurement date.
Equity securities that are traded on an exchange are valued at the last quoted sale price on the principal exchange on which the security is traded at the “Valuation Time” subject to application, when appropriate, of the valuation factors described in the paragraph below. Under normal circumstances, the Valuation Time is as of the close of regular trading on the New York Stock Exchange ("NYSE") (usually 4:00 p.m. Eastern Time). In the absence of a sale price, the security is valued at the mean of the bid/ask price quoted at the close on the principal exchange on which the security is traded. Securities traded on NASDAQ are valued at the NASDAQ official closing price.
Foreign Valuation factors are provided by an independent pricing service provider. These valuation factors are used when pricing a Fund's portfolio holdings to estimate market movements between the time foreign markets close and the time a Fund values such foreign securities. These valuation factors are based on inputs such as depositary receipts, indices, futures, sector indices/ETFs, exchange rates, and local exchange opening and closing prices of each security. When prices with the application of valuation factors are utilized, the value assigned to the foreign securities may not be the same as quoted or published prices of the securities on their primary markets. A security that applies a valuation factor is determined to be a Level 2 investment because the exchange-traded price has been adjusted. Valuation factors are not utilized if the independent pricing service provider is unable to provide a valuation factor or if the valuation factor falls below a predetermined threshold; in such case, the security is determined to be a Level 1 investment.
Long-term debt and other fixed-income securities are valued at the last quoted or evaluated bid price on the valuation date provided by an independent pricing service provider approved by the Board of Trustees of the Trust (the “Board”). If there are no current-day bids, the security is valued at the previously applied bid. Pricing services generally price debt securities assuming orderly transactions of an institutional “round lot” size, and the strategies employed by Aberdeen generally trade in round lot sizes. In certain circumstances, fixed income securities may be held or transactions may be conducted in smaller, “odd lot” sizes. Odd lots may trade at lower or, occasionally, higher prices than institutional round lot trades. Short-term debt securities (such as commercial paper and U.S. treasury bills) having a remaining maturity of 60 days or less are valued at the last quoted or evaluated bid price on the valuation date provided by an independent pricing service, or on the basis of amortized cost if it represents the best approximation for fair value. Debt and other fixed-income securities are generally determined to be Level 2 investments.
Short-term investments are comprised of cash and cash equivalents invested in short-term investment funds which are redeemable daily. The Funds sweep available cash into the State Street Institutional U.S. Government Money Market Fund, which has elected to qualify as a “government money market fund” pursuant to Rule 2a-7 under the Investment Company Act of 1940, as amended, and has an objective, which is not guaranteed, to maintain a $1.00 per share net asset value (“NAV”). Generally, these investment types are categorized as Level 1 investments.
Derivative instruments are generally valued according to the following procedures. Exchange traded derivatives are generally Level 1 investments and over-the-counter and centrally cleared derivatives are generally Level 2 investments.
Aberdeen Asia-Pacific (ex-Japan) Equity Fund
Notes to Statements of Investments (unaudited) (concluded)
July 31, 2021
Forward currency exchange contracts are generally valued based on the current spot exchange rates and the forward exchange rate points (ex. 1-month, 3-month) that are obtained from an approved pricing agent. Based on the actual settlement dates of the forward contracts held, an interpolated value of the forward points is combined with the spot exchange rate to derive the valuation. Futures contracts are generally valued at the most recent settlement price as of NAV determination. Swap agreements are generally valued by an approved pricing agent based on the terms of the swap agreement (including future cash flows). When market quotations or exchange rates are not readily available, or if the Adviser concludes that such market quotations do not accurately reflect fair value, the fair value of a Fund’s assets are determined in good faith in accordance with the Valuation Procedures.
In the event that a security’s market quotations are not readily available or are deemed unreliable (for reasons other than because the foreign exchange on which it trades closed before the Valuation Time (as defined below)), the security is valued at fair value as determined by the Funds' Pricing Committee (the "Pricing Committee"), taking into account the relevant factors and surrounding circumstances using Valuation and Liquidity Procedures approved by the Board. Under normal circumstances, the Valuation Time is as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time). A security that has been fair valued by the Pricing Committee may be classified as Level 2 or Level 3 depending on the nature of the inputs.
Aberdeen Asia-Pacific (ex-Japan) Equity Fund