NPORT-P
    false
    
      
      
        
          0000887210
          XXXXXXXX
        
      
      
      
      
        S000006120
        C000016842
        C000016843
      
      
      
    
  
  
    
      ABERDEEN INVESTMENT FUNDS
      811-06652
      0000887210
      5493001RNJA4FK6T2Y03
      1900 Market Street
      Suite 200
      PHILADELPHIA
      
      19103
      866-667-9231
      Aberdeen Total Return Bond Fund
      S000006120
      X274JDWD7DOETUIPTQ90
      2021-10-31
      2021-07-31
      N
    
    
      111349957.02
      251800.69
      111098156.33
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      41.16000000
      
        
          USD
          
          
        
      
      
      
      N
      
        
          
          
        
        
          
            
            
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        John Deere Owner Trust
        N/A
        John Deere Owner Trust 2020-B
        47787NAB5
        
          
        
        368203.90000000
        PA
        USD
        368414.37000000
        0.331611596600
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2023-03-15
          Fixed
          0.41000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NATWEST GROUP PLC
        2138005O9XJIJN4JPN90
        Natwest Group PLC
        780097BK6
        
          
        
        1450000.00000000
        PA
        USD
        1575860.00000000
        1.418439380145
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          2025-03-22
          Fixed
          4.27000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VERIZON COMMUNICATIONS
        2S72QS2UO2OESLG6Y829
        Verizon Communications Inc
        92343VEA8
        
          
        
        2140000.00000000
        PA
        USD
        2608295.47000000
        2.347739653079
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2033-08-10
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ATHENE HOLDING LTD
        549300H316CT32FQXI76
        Athene Holding Ltd
        04686JAC5
        
          
        
        1130000.00000000
        PA
        USD
        1237227.30000000
        1.113634412010
        Long
        DBT
        CORP
        BM
        
        N
        
        2
        
          2031-01-15
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        APPLE INC
        HWUPKR0MPOU8FGXBT394
        Apple Inc
        037833DZ0
        
          
        
        725000.00000000
        PA
        USD
        683575.58000000
        0.615289760497
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2050-08-20
          Fixed
          2.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Ford Holdings LLC
        N/A
        Ford Holdings LLC
        345277AE7
        
          
        
        930000.00000000
        PA
        USD
        1274146.50000000
        1.146865566531
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-03-01
          Fixed
          9.30000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HYUNDAI CAPITAL AMERICA
        549300RIPPWJB5Z0FK07
        Hyundai Capital America
        44891ABR7
        
          
        
        1690000.00000000
        PA
        USD
        1683124.42000000
        1.514988615113
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-01-08
          Fixed
          0.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140XBLF5
        
          
        
        1073824.52000000
        PA
        USD
        1123790.03000000
        1.011528964226
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2051-06-01
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CCC3
        
          
        
        7624600.00000000
        PA
        USD
        7610899.51000000
        6.850608292178
        Long
        DBT
        UST
        US
        N
        
        2
        
          2024-05-15
          Fixed
          0.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140X67A3
        
          
        
        494357.69000000
        PA
        USD
        532244.08000000
        0.479075528867
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-06-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140J9ES6
        
          
        
        290525.76000000
        PA
        USD
        317353.23000000
        0.285651211940
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-09-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SOUTHWESTERN PUBLIC SERV
        OL6FE7QD5EQ3DOYEO258
        Southwestern Public Service Co
        845743BU6
        
          
        
        613000.00000000
        PA
        USD
        663384.01000000
        0.597115228473
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2050-05-01
          Fixed
          3.15000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BROADCOM INC
        549300WV6GIDOZJTV909
        Broadcom Inc
        11135FAQ4
        
          
        
        1335000.00000000
        PA
        USD
        1513205.43000000
        1.362043691801
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-11-15
          Fixed
          4.15000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140HJZV6
        
          
        
        947141.14000000
        PA
        USD
        1034163.45000000
        0.930855636279
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-05-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140FXGC0
        
          
        
        530889.47000000
        PA
        USD
        584781.80000000
        0.526364990489
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2040-07-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140X9YD1
        
          
        
        1063160.22000000
        PA
        USD
        1113013.42000000
        1.001828884265
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-09-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Honda Auto Receivables Owner Trust
        N/A
        Honda Auto Receivables 2020-3 Owner Trust
        43813KAC6
        
          
        
        940000.00000000
        PA
        USD
        941886.96000000
        0.847797111234
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2024-10-18
          Fixed
          0.37000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SK HYNIX INC
        988400XAIK6XISWQV045
        SK Hynix Inc
        78392BAA5
        
          
        
        1125000.00000000
        PA
        USD
        1120140.00000000
        1.008243554170
        Long
        DBT
        CORP
        KR
        N
        
        2
        
          2024-01-19
          Fixed
          1.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Nissan Auto Lease Trust
        N/A
        Nissan Auto Lease Trust 2020-B
        65480EAD3
        
          
        
        957000.00000000
        PA
        USD
        959200.33000000
        0.863380961202
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2023-10-16
          Fixed
          0.43000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CCD1
        
          
        
        4000000.00000000
        PA
        USD
        3997343.76000000
        3.598028889090
        Long
        DBT
        UST
        US
        N
        
        2
        
          2023-05-31
          Fixed
          0.13000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810SU3
        
          
        
        1690000.00000000
        PA
        USD
        1678117.19000000
        1.510481582624
        Long
        DBT
        UST
        US
        N
        
        2
        
          2051-02-15
          Fixed
          1.88000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        3617GWA67
        
          
        
        914553.36000000
        PA
        USD
        991983.22000000
        0.892889002634
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-05-20
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Freddie Mac Pool
        3132DMBT1
        
          
        
        700588.95000000
        PA
        USD
        760990.88000000
        0.684971654920
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2047-01-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31418CS47
        
          
        
        888942.60000000
        PA
        USD
        946992.49000000
        0.852392624038
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-01-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SLM Student Loan Trust
        549300GQO6PBOYVGSS10
        SLM Student Loan Trust 2011-2
        78446JAA4
        
          
        
        49709.68000000
        PA
        USD
        49726.10000000
        0.044758708553
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2027-11-25
          Floating
          0.69000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Cenovus Energy Inc
        549300EIRQ0Z2B9C1W06
        Cenovus Energy Inc
        15135UAR0
        
          
        
        642000.00000000
        PA
        USD
        798647.34000000
        0.718866420814
        Long
        DBT
        CORP
        CA
        N
        
        2
        
          2047-06-15
          Fixed
          5.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CBW0
        
          
        
        7904400.00000000
        PA
        USD
        7937129.12000000
        7.144249177658
        Long
        DBT
        UST
        US
        N
        
        2
        
          2026-04-30
          Fixed
          0.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PACIFIC GAS & ELECTRIC
        1HNPXZSMMB7HMBMVBS46
        Pacific Gas and Electric Co
        694308JM0
        
          
        
        1365000.00000000
        PA
        USD
        1456675.97000000
        1.311161245262
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-07-01
          Fixed
          4.55000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        3622AA5E0
        
          
        
        1865938.35000000
        PA
        USD
        1941844.96000000
        1.747864252789
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2051-03-20
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Freddie Mac Gold Pool
        3128M9KT8
        
          
        
        201445.48000000
        PA
        USD
        230185.73000000
        0.207191314063
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2041-10-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        3617HCVS9
        
          
        
        418796.82000000
        PA
        USD
        454253.34000000
        0.408875678054
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2048-09-20
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810SX7
        
          
        
        8000000.00000000
        PA
        USD
        8875000.00000000
        7.988431395421
        Long
        DBT
        UST
        US
        N
        
        2
        
          2051-05-15
          Fixed
          2.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NISSAN MOTOR CO
        353800DRBDH1LUTNAY26
        Nissan Motor Co Ltd
        654744AC5
        
          
        
        1215000.00000000
        PA
        USD
        1349523.23000000
        1.214712534014
        Long
        DBT
        CORP
        JP
        N
        
        2
        
          2027-09-17
          Fixed
          4.35000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CNH Equipment Trust
        N/A
        CNH Equipment Trust 2021-A
        12598AAC4
        
          
        
        506080.00000000
        PA
        USD
        506677.68000000
        0.456063085777
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2025-12-15
          Fixed
          0.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        General Electric Co
        3C7474T6CDKPR9K6YT90
        General Electric Co
        36962GXZ2
        
          
        
        1108000.00000000
        PA
        USD
        1543439.58000000
        1.389257599753
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2032-03-15
          Fixed
          6.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179VN48
        
          
        
        877911.65000000
        PA
        USD
        922158.02000000
        0.830038994761
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2050-06-20
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        4903307.87000000
        NS
        USD
        4903307.87000000
        4.413491665366
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NXP BV/NXP FUNDING LLC
        N/A
        NXP BV / NXP Funding LLC
        62947QAX6
        
          
        
        887000.00000000
        PA
        USD
        1039815.93000000
        0.935943461484
        Long
        DBT
        CORP
        XX
        
        N
        
        2
        
          2026-03-01
          Fixed
          5.35000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Harley-Davidson Motorcycle Trust
        N/A
        Harley-Davidson Motorcycle Trust 2021-A
        41284NAC4
        
          
        
        899000.00000000
        PA
        USD
        899876.88000000
        0.809983630445
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2026-04-15
          Fixed
          0.37000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140L4CU1
        
          
        
        1131448.39000000
        PA
        USD
        1195926.50000000
        1.076459357658
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2036-03-01
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CBH3
        
          
        
        4908800.00000000
        PA
        USD
        4853192.52000000
        4.368382590962
        Long
        DBT
        UST
        US
        N
        
        2
        
          2026-01-31
          Fixed
          0.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140X7RG6
        
          
        
        521494.42000000
        PA
        USD
        562341.50000000
        0.506166365470
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-06-01
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179RVD8
        
          
        
        391452.21000000
        PA
        USD
        434543.48000000
        0.391134735583
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2045-12-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KEURIG DR PEPPER INC
        DYTQ8KRTKO7Y2BVU5K74
        Keurig Dr Pepper Inc
        49271VAL4
        
          
        
        1683000.00000000
        PA
        USD
        1685447.72000000
        1.517079828934
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-03-15
          Fixed
          0.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CCE9
        
          
        
        3848900.00000000
        PA
        USD
        3917458.53000000
        3.526123798457
        Long
        DBT
        UST
        US
        N
        
        2
        
          2028-05-31
          Fixed
          1.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UniCredit SpA
        549300TRUWO2CD2G5692
        UniCredit SpA
        904678AG4
        
          
        
        1800000.00000000
        PA
        USD
        2069150.99000000
        1.862453040043
        Long
        DBT
        CORP
        IT
        N
        
        2
        
          2023-12-04
          Fixed
          7.83000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        3617BRAJ5
        
          
        
        646865.19000000
        PA
        USD
        691966.54000000
        0.622842505094
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2047-11-20
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AMERICAN TOWER CORP
        5493006ORUSIL88JOE18
        American Tower Corp
        03027XBG4
        
          
        
        1105000.00000000
        PA
        USD
        1085037.84000000
        0.976647926340
        Long
        DBT
        
        US
        N
        
        2
        
          2030-10-15
          Fixed
          1.88000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        RAYTHEON TECH CORP
        I07WOS4YJ0N7YRFE7309
        Raytheon Technologies Corp
        913017BK4
        
          
        
        1470000.00000000
        PA
        USD
        2088246.41000000
        1.879640922030
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2036-06-01
          Fixed
          6.05000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140XBKK5
        
          
        
        3310016.78000000
        PA
        USD
        3384271.11000000
        3.046199164590
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2051-06-01
          Fixed
          2.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        147599.08000000
        NS
        USD
        147599.08000000
        0.132854661927
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Verizon Owner Trust
        N/A
        Verizon Owner Trust 2020-C
        92348CAA9
        
          
        
        1108000.00000000
        PA
        USD
        1110821.30000000
        0.999855746211
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2025-04-21
          Fixed
          0.41000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CCBL CAYMAN 1 CORP
        549300PPQILFPZT13E12
        CCBL Cayman 1 Corp Ltd
        000000000
        
          
        
        555000.00000000
        PA
        USD
        587940.36000000
        0.529208025967
        Long
        DBT
        CORP
        KY
        
        Y
        
        2
        
          2024-05-16
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        31418DLT7
        
          
        
        1042369.38000000
        PA
        USD
        1092815.21000000
        0.983648375544
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-02-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36179TAM7
        
          
        
        399909.15000000
        PA
        USD
        431266.35000000
        0.388184974662
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2047-06-20
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        IPALCO ENTERPRISES INC
        5493000YFVK2DZX0JV43
        IPALCO Enterprises Inc
        462613AP5
        
          
        
        1343000.00000000
        PA
        USD
        1528993.27000000
        1.376254404671
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2030-05-01
          Fixed
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140QED90
        
          
        
        1186854.32000000
        PA
        USD
        1256135.56000000
        1.130653830355
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-07-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Bank
        N/A
        BANK 2018-BNK11
        06540TAJ9
        
          
        
        460000.00000000
        PA
        USD
        507601.40000000
        0.456894530717
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2061-03-15
          Variable
          4.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Toyota Auto Receivables Owner Trust
        N/A
        Toyota Auto Receivables 2021-A Owner Trust
        89240BAC2
        
          
        
        900000.00000000
        PA
        USD
        899925.75000000
        0.810027618574
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2025-05-15
          Fixed
          0.26000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CVS Health Corp
        549300EJG376EN5NQE29
        CVS Health Corp
        126650BJ8
        
          
        
        1270000.00000000
        PA
        USD
        1592990.08000000
        1.433858249877
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2027-06-01
          Fixed
          6.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140QC6F8
        
          
        
        875834.09000000
        PA
        USD
        948089.41000000
        0.853379967156
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2050-03-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac
        S6XOOCT0IEG5ABCC6L87
        Freddie Mac Pool
        3132ACRS1
        
          
        
        983768.80000000
        PA
        USD
        1077109.12000000
        0.969511246253
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2048-08-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AEP TEXAS INC
        5493001L78U618KXNZ75
        AEP Texas Inc
        00108WAK6
        
          
        
        580000.00000000
        PA
        USD
        616968.18000000
        0.555336110319
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2050-01-15
          Fixed
          3.45000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ITALY GOV'T INT BOND
        815600DE60799F5A9309
        Republic of Italy Government International Bond
        465410CC0
        
          
        
        1094000.00000000
        PA
        USD
        1241054.27000000
        1.117079086635
        Long
        DBT
        NUSS
        IT
        N
        
        2
        
          2051-05-06
          Fixed
          3.88000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        COMM Mortgage Trust
        N/A
        COMM 2015-LC23 Mortgage Trust
        12636FBH5
        
          
        
        784000.00000000
        PA
        USD
        839421.98000000
        0.755567875948
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2048-10-10
          Fixed
          3.52000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Government National Mortgage Association
        549300M8ZYFG0OCMTT87
        Ginnie Mae II Pool
        36180H2A5
        
          
        
        1633334.20000000
        PA
        USD
        1731824.55000000
        1.558823842995
        Long
        ABS-MBS
        USGA
        US
        N
        
        2
        
          2050-06-20
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LLOYDS BANKING GROUP PLC
        549300PPXHEU2JF0AM85
        Lloyds Banking Group PLC
        53944YAL7
        
          
        
        1225000.00000000
        PA
        USD
        1327690.44000000
        1.195060731751
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          2025-07-09
          Fixed
          3.87000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TECK RESOURCES LIMITED
        T8KI5SQ2JRWHL7XY0E11
        Teck Resources Ltd
        878742BG9
        
          
        
        1365000.00000000
        PA
        USD
        1501525.09000000
        1.351530159996
        Long
        DBT
        CORP
        CA
        N
        
        2
        
          2030-07-15
          Fixed
          3.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GM Financial Automobile Leasing Trust
        N/A
        GM Financial Automobile Leasing Trust 2020-2
        36259PAE6
        
          
        
        530000.00000000
        PA
        USD
        535378.07000000
        0.481896448767
        Long
        ABS-O
        CORP
        US
        N
        
        2
        
          2024-07-22
          Fixed
          1.01000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fannie Mae
        B1V7KEBTPIMZEU4LTD58
        Fannie Mae Pool
        3140F9UB9
        
          
        
        474479.31000000
        PA
        USD
        517390.33000000
        0.465705595026
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2046-12-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANK OF AMERICA CORP
        9DJT3UXIJIZJI4WXO774
        Bank of America Corp
        06051GJE0
        
          
        
        1131000.00000000
        PA
        USD
        1116328.09000000
        1.004812435126
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2041-06-19
          Fixed
          2.68000000
          N
          N
          N
        
        
          N
          N
          N
        
      
    
    
      
    
    
      2021-08-30
      ABERDEEN INVESTMENT FUNDS
      Sharon Ferrari
      Sharon Ferrari
      Assistant Treasurer
    
  
  XXXX

Statement of Investments

 

July 31, 2021 (Unaudited)

Aberdeen International Sustainable Leaders Fund

 

 

   Shares  Value
COMMON STOCKS (105.8%)          
ARGENTINA (2.2%)          
Consumer Discretionary (2.2%)          
MercadoLibre, Inc.(a)   2,030   $3,184,461 
AUSTRALIA (9.4%)          
Health Care (6.5%)          
Cochlear Ltd.   27,099    4,902,721 
CSL Ltd.   21,200    4,513,280 
         9,416,001 
Real Estate (2.9%)          
Goodman Group, REIT   257,000    4,274,466 
         13,690,467 
BRAZIL (2.6%)          
Consumer Staples (2.6%)          
Raia Drogasil SA   780,700    3,783,395 
CANADA (2.1%)          
Industrials (2.1%)          
Ritchie Bros Auctioneers, Inc.   50,100    2,990,901 
CHINA (3.0%)          
Health Care (3.0%)          
Wuxi Biologics Cayman, Inc.(a)(b)   284,000    4,337,887 
DENMARK (9.4%)          
Health Care (4.0%)          
Genmab AS(a)   12,900    5,830,527 
Information Technology (2.7%)          
SimCorp A/S   28,600    3,973,857 
Utilities (2.7%)          
Orsted AS(b)   26,700    3,960,148 
         13,764,532 
FRANCE (6.3%)          
Consumer Staples (3.5%)          
L'Oreal SA   11,200    5,123,927 
Industrials (2.8%)          
Schneider Electric SE   24,000    4,019,720 
         9,143,647 
GERMANY (2.4%)          
Financials (2.4%)          
Deutsche Boerse AG   21,400    3,570,888 
           

See accompanying Notes to Statements of Investments.

Statement of Investments (continued)

 

July 31, 2021 (Unaudited)

Aberdeen International Sustainable Leaders Fund

 

HONG KONG (3.2%)      
Financials (3.2%)      
AIA Group Ltd.   394,600   $4,721,689 
INDIA (5.1%)          
Financials (2.6%)          
Housing Development Finance Corp. Ltd.   112,600    3,708,875 
Materials (2.5%)          
Asian Paints Ltd.   92,800    3,689,175 
         7,398,050 
ISRAEL (4.4%)          
Consumer Staples (2.1%)          
Strauss Group Ltd.   111,100    3,079,686 
Industrials (2.3%)          
Kornit Digital Ltd.(a)   24,700    3,264,352 
         6,344,038 
ITALY (2.3%)          
Consumer Discretionary (2.3%)          
Brunello Cucinelli SpA(a)   54,300    3,363,748 
JAPAN (9.5%)          
Health Care (2.5%)          
Chugai Pharmaceutical Co. Ltd.   98,400    3,626,090 
Industrials (4.0%)          
Nabtesco Corp.   80,200    3,037,690 
Nihon M&A Center, Inc.   102,400    2,851,738 
         5,889,428 
Information Technology (3.0%)          
Keyence Corp.   7,900    4,400,320 
         13,915,838 
LATVIA (0.0%)          
Financials (0.0%)          
AS Parex Banka(a)(c)(d)(e)   1,424,182    2 
NETHERLANDS (9.2%)          
Information Technology (5.8%)          
Adyen NV(a)(b)   1,450    3,929,571 
ASML Holding NV   5,900    4,509,864 
         8,439,435 
Materials (3.4%)          
Koninklijke DSM NV   24,865    5,012,320 
         13,451,755 
NEW ZEALAND (6.0%)          
Health Care (2.4%)          
Fisher & Paykel Healthcare Corp. Ltd.   157,700    3,475,740 

 

See accompanying Notes to Statements of Investments.

Statement of Investments (continued)

 

July 31, 2021 (Unaudited)

Aberdeen International Sustainable Leaders Fund

 

Industrials (2.0%)   
Auckland International Airport Ltd.(a)        579,400   $2,923,275
Information Technology (1.6%)          
Xero Ltd.(a)        22,500   2,334,427
             8,733,442
SINGAPORE (1.5%)              
Financials (1.5%)          
Oversea-Chinese Banking Corp. Ltd.        246,000   2,225,619
SWEDEN (2.7%)          
Industrials (2.7%)              
Atlas Copco AB, A Shares        59,100   4,002,548
SWITZERLAND (3.4%)              
Consumer Staples (3.4%)          
Nestle SA        38,710   4,901,834
TAIWAN (5.9%)          
Industrials (2.5%)              
Voltronic Power Technology Corp.        75,000   3,654,423
Information Technology (3.4%)              
Taiwan Semiconductor Manufacturing Co. Ltd., ADR        42,100   4,910,544
             8,564,967
UNITED KINGDOM (15.2%)          
Financials (2.5%)              
London Stock Exchange Group PLC        34,200   3,566,078
Health Care (2.9%)              
Dechra Pharmaceuticals PLC        61,700   4,262,424
Industrials (3.2%)              
Spirax-Sarco Engineering PLC        22,600   4,708,681
Information Technology (2.7%)              
AVEVA Group PLC        72,200   3,939,384
Materials (3.9%)              
Croda International PLC        48,800   5,712,589
             22,189,156
Total Common Stocks            154,278,864
SHORT-TERM INVESTMENT—0.9%              
UNITED STATES (0.9%)          
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(f)        1,369,867   1,369,867
Total Short-Term Investment            1,369,867
Total Investments (Cost $138,227,768) —106.7%            155,648,731
Liabilities in Excess of Other Assets—(6.7)%            (9,790,586)
Net Assets—100.0%            $145,858,145

 

See accompanying Notes to Statements of Investments.

Statement of Investments (concluded)

 

July 31, 2021 (Unaudited)

Aberdeen International Sustainable Leaders Fund

 

(a) Non-income producing security.
(b) Denotes a security issued under Regulation S or Rule 144A.
(c) Level 3 security. See Note 1(a) of the accompanying Notes to Statements of Investments.
(d) Illiquid security.
(e) The Fund’s adviser has deemed this security to be illiquid based upon procedures approved by the Board of Trustees. Illiquid securities held by the Fund represent 0.00% of net assets as of July 31, 2021.
(f) 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 Equity Impact Fund

 

   Shares  Value
COMMON STOCKS (100.9%)          
AUSTRALIA (2.2%)          
Real Estate (2.2%)          
Goodman Group, REIT   95,600   $1,590,035 
BELGIUM (3.4%)          
Materials (3.4%)          
Umicore SA   39,700    2,464,049 
BRAZIL (1.5%)          
Consumer Discretionary (0.5%)          
YDUQS Participacoes SA   64,300    348,892 
Financials (1.0%)          
Banco Bradesco SA   184,268    730,598 
         1,079,490 
CHINA (6.2%)          
Financials (1.4%)          
Ping An Insurance Group Co. of China Ltd., H Shares   119,000    1,041,350 
Health Care (4.8%)          
Wuxi Biologics Cayman, Inc.(a)(b)   229,000    3,497,803 
         4,539,153 
DENMARK (7.0%)          
Health Care (2.5%)          
Novo Nordisk AS, Class B   19,400    1,795,883 
Industrials (2.5%)          
Vestas Wind Systems AS   50,100    1,847,414 
Utilities (2.0%)          
Orsted AS(a)   9,800    1,453,537 
         5,096,834 
FRANCE (7.3%)          
Financials (1.7%)          
AXA SA   48,100    1,245,647 
Industrials (5.6%)          
Alstom SA(b)   44,400    1,841,549 
Schneider Electric SE   13,200    2,210,846 
         4,052,395 
         5,298,042 
GERMANY (3.9%)          
Information Technology (2.4%)          
Infineon Technologies AG   45,100    1,723,457 
Materials (1.5%)          
Covestro AG(a)   17,200    1,108,045 
         2,831,502 

 

See accompanying Notes to Statements of Investments.

Statement of Investments (continued)

 

July 31, 2021 (Unaudited)

Aberdeen Global Equity Impact Fund

 

HONG KONG (2.4%)          
Financials (2.4%)          
AIA Group Ltd.   145,200   $1,737,429 
INDONESIA (1.0%)          
Financials (1.0%)          
Bank Rakyat Indonesia Persero Tbk PT   2,936,600    753,374 
ISRAEL (3.6%)          
Industrials (3.6%)          
Kornit Digital Ltd.(b)   19,600    2,590,336 
KENYA (3.5%)          
Communication Services (3.5%)          
Safaricom PLC   6,537,300    2,537,103 
NETHERLANDS (5.4%)          
Information Technology (2.7%)          
ASML Holding NV   2,600    1,987,398 
Materials (2.7%)          
Koninklijke DSM NV   9,749    1,965,216 
         3,952,614 
REPUBLIC OF IRELAND (2.2%)          
Industrials (2.2%)          
Kingspan Group PLC   14,700    1,598,534 
SOUTH KOREA (4.3%)          
Information Technology (4.3%)          
Samsung SDI Co. Ltd.   4,900    3,163,140 
TAIWAN (2.2%)          
Industrials (2.2%)          
Voltronic Power Technology Corp.   33,610    1,637,669 
UNITED KINGDOM (10.0%)          
Consumer Discretionary (1.7%)          
Countryside Properties PLC(a)(b)   161,600    1,180,959 
Health Care (6.4%)          
AstraZeneca PLC   18,600    2,137,323 
Clinigen Group PLC   183,600    1,529,949 
GlaxoSmithKline PLC   50,900    1,004,961 
         4,672,233 
Industrials (1.9%)          
RELX PLC   47,500    1,396,229 
         7,249,421 
UNITED STATES (34.8%)          
Consumer Discretionary (1.6%)          
Chegg, Inc.(b)   13,400    1,187,642 
           

See accompanying Notes to Statements of Investments.

Statement of Investments (concluded)

 

July 31, 2021 (Unaudited)

Aberdeen Global Equity Impact Fund

 

Financials (2.6%)
Hannon Armstrong Sustainable Infrastructure Capital, Inc.    33,100$ 1,880,080
Health Care (4.6%)
Merck & Co., Inc.    15,400  1,183,798
UnitedHealth Group, Inc.    5,200  2,143,544
        3,327,342
Industrials (7.2%)
Tetra Tech, Inc.    22,100  2,950,792
Trane Technologies PLC    11,100  2,260,071
        5,210,863
Information Technology (8.0%)
Autodesk, Inc.(b)    5,200  1,669,876
Mastercard, Inc., Class A    5,700  2,199,858
salesforce.com, Inc.(b)    8,000  1,935,440
        5,805,174
Real Estate (8.1%)          
American Tower Corp., REIT    3,700  1,046,360
Equinix, Inc., REIT    2,600  2,133,066
Prologis, Inc., REIT    21,400  2,740,056
        5,919,482
Utilities (2.7%)
NextEra Energy, Inc.    25,700  2,002,030
        25,332,613
Total Common Stocks       73,451,338
SHORT-TERM INVESTMENT—2.7%
UNITED STATES (2.7%)          
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(c)    1,976,207  1,976,207
Total Short-Term Investment       1,976,207
Total Investments (Cost $50,448,432) —103.6%       75,427,545
Liabilities in Excess of Other Assets—(3.6)%       (2,600,378)
Net Assets—100.0%       $72,827,167

 

(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.
   
PLC Public Limited Company
REIT Real Estate Investment Trust

 

See accompanying Notes to Statements of Investments.

Statement of Investments

 

July 31, 2021 (Unaudited)

Aberdeen Total Return Bond Fund

 

 

   Shares or
Principal
Amount		  Value
(US$)
ASSET-BACKED SECURITIES (5.7%)      
UNITED STATES (5.7%)      
CNH Equipment Trust, Series 2021-A, Class A3, ABS (USD), 0.40%, 12/15/2025  $506,080   $506,678 
GM Financial Automobile Leasing Trust, Series 2020-2, Class A4, ABS (USD), 1.01%, 07/22/2024   530,000    535,378 
Harley-Davidson Motorcycle Trust, Series 2021-A, Class A3, ABS (USD), 0.37%, 04/15/2026   899,000    899,877 
Honda Auto Receivables Owner Trust, Series 2020-3, Class A3, ABS (USD), 0.37%, 10/18/2024   940,000    941,887 
John Deere Owner Trust, Series 2020-B, Class A2, ABS (USD), 0.41%, 03/15/2023   368,204    368,415 
Nissan Auto Lease Trust, Series 2020-B, Class A3, ABS (USD), 0.43%, 10/16/2023   957,000    959,200 
SLM Student Loan Trust, Series 2011-2, Class A1, (USD), 1M USD LIBOR + 0.600%, 0.69%, 11/25/2027 (a)   49,710    49,726 
Toyota Auto Receivables Owner Trust, Series 2021-A, Class A3, ABS (USD), 0.26%, 05/15/2025   900,000    899,926 
Verizon Owner Trust, Series 2020-C, Class A, ABS (USD), 0.41%, 04/21/2025   1,108,000    1,110,821 
         6,271,908 
Total Asset-Backed Securities        6,271,908 
COMMERCIAL MORTGAGE-BACKED SECURITIES (1.2%)          
UNITED STATES (1.2%)          
BANK, Series 2018-BN11, Class C (USD), 4.38%, 03/15/2061 (a)   460,000    507,601 
Commercial Mortgage Trust, Series 2015-LC23, Class A3 (USD), 3.52%, 10/10/2048   784,000    839,422 
         1,347,023 
Total Commercial Mortgage-Backed Securities        1,347,023 
CORPORATE BONDS (30.4%)          
CANADA (2.1%)          
Metals & Mining (1.4%)          
Teck Resources Ltd. (USD), 3.90%, 07/15/2030   1,365,000    1,501,525 
Oil, Gas & Consumable Fuels (0.7%)          
Cenovus Energy, Inc. (USD), 5.40%, 06/15/2047   642,000    798,647 
         2,300,172 
CHINA (0.5%)          
Diversified Financial Services (0.5%)          
CCBL Cayman 1 Corp. Ltd. (USD), 3.50%, 05/16/2024   555,000    587,940 
ITALY (1.9%)          
Commercial Banks (1.9%)          
UniCredit SpA (USD), 7.83%, 12/04/2023 (b)   1,800,000    2,069,151 
JAPAN (1.2%)          
Auto Manufacturers (1.2%)          
Nissan Motor Co. Ltd. (USD), 4.35%, 09/17/2027 (b)   1,215,000    1,349,523 
           

See accompanying Notes to Statements of Investments.

Statement of Investments (continued)

 

July 31, 2021 (Unaudited)

Aberdeen Total Return Bond Fund

 

NETHERLANDS (0.9%)      
Semiconductors (0.9%)      
NXP BV / NXP Funding LLC (USD), 5.35%, 03/01/2026 (b)  $887,000   $1,039,816 
SOUTH KOREA (1.0%)          
Semiconductors (1.0%)          
SK Hynix, Inc., 144A (USD), 1.00%, 01/19/2024 (b)   1,125,000    1,120,140 
UNITED KINGDOM (2.6%)          
Commercial Banks (2.6%)          
Lloyds Banking Group PLC, (fixed rate to 07/09/2024, variable rate thereafter), VRN (USD), 3.87%, 07/09/2025   1,225,000    1,327,691 
Natwest Group PLC, (fixed rate to 03/22/2024, variable rate thereafter) (USD), 4.27%, 03/22/2025   1,450,000    1,575,860 
         2,903,551 
UNITED STATES (20.2%)          
Aerospace & Defense (1.9%)          
Raytheon Technologies Corp. (USD), 6.05%, 06/01/2036   1,470,000    2,088,246 
Auto Manufacturers (2.7%)          
Ford Holdings LLC (USD), 9.30%, 03/01/2030   930,000    1,274,147 
Hyundai Capital America, 144A (USD), 0.80%, 01/08/2024 (b)   1,690,000    1,683,124 
         2,957,271 
Beverages (1.5%)          
Keurig Dr Pepper, Inc. (USD), 0.75%, 03/15/2024   1,683,000    1,685,448 
Commercial Banks (1.0%)          
Bank of America Corp., (fixed rate to 06/19/2040, variable rate thereafter) (USD), 2.68%, 06/19/2041   1,131,000    1,116,328 
Computers & Peripherals (0.6%)          
Apple, Inc. (USD), 2.40%, 08/20/2050   725,000    683,576 
Diversified Telecommunication Services (2.4%)          
Verizon Communications, Inc. (USD), 4.50%, 08/10/2033   2,140,000    2,608,296 
Electric Utilities (3.8%)          
AEP Texas, Inc., Series H (USD), 3.45%, 01/15/2050   580,000    616,968 
IPALCO Enterprises, Inc. (USD), 4.25%, 05/01/2030   1,343,000    1,528,993 
Pacific Gas and Electric Co. (USD), 4.55%, 07/01/2030   1,365,000    1,456,676 
Southwestern Public Service Co., Series 8 (USD), 3.15%, 05/01/2050   613,000    663,384 
         4,266,021 
Insurance (1.1%)          
Athene Holding Ltd. (USD), 3.50%, 01/15/2031   1,130,000    1,237,227 
Miscellaneous Manufacturing (1.4%)          
General Electric Co., Series A (USD), 6.75%, 03/15/2032   1,108,000    1,543,440 
Pharmaceutical (1.4%)          
CVS Health Corp. (USD), 6.25%, 06/01/2027   1,270,000    1,592,990 
Real Estate Investment Trust (REIT) Funds (1.0%)          
American Tower Corp. (USD), 1.88%, 10/15/2030   1,105,000    1,085,038 

 

See accompanying Notes to Statements of Investments.

Statement of Investments (continued)

 

July 31, 2021 (Unaudited)

Aberdeen Total Return Bond Fund

 

Semiconductors (1.4%)      
Broadcom, Inc. (USD), 4.15%, 11/15/2030  $1,335,000   $1,513,205 
         22,377,086 
Total Corporate Bonds        33,747,379 
GOVERNMENT BONDS (1.1%)          
ITALY (1.1%)          
Republic of Italy Government International Bond (USD), 3.88%, 05/06/2051 (c)   1,094,000    1,241,054 
Total Government Bonds        1,241,054 
U.S. AGENCIES (20.8%)          
UNITED STATES (20.8%)          
Federal Home Loan Mortgage Corp.          
MBS (USD), 4.00%, 01/01/2047   700,589    760,991 
MBS (USD), 4.00%, 08/01/2048   983,769    1,077,109 
Federal National Mortgage Association          
MBS (USD), 2.50%, 03/01/2036   1,131,448    1,195,927 
MBS (USD), 4.50%, 12/01/2046   474,479    517,390 
MBS (USD), 3.50%, 01/01/2048   888,943    946,993 
MBS (USD), 4.00%, 05/01/2048   947,141    1,034,163 
MBS (USD), 5.00%, 09/01/2048   290,526    317,353 
MBS (USD), 3.00%, 02/01/2050   1,042,369    1,092,815 
MBS (USD), 4.00%, 03/01/2050   875,834    948,089 
MBS (USD), 3.50%, 06/01/2050   521,495    562,342 
MBS (USD), 3.50%, 06/01/2050   494,358    532,244 
MBS (USD), 3.00%, 07/01/2050   1,186,854    1,256,136 
MBS (USD), 3.00%, 09/01/2050   1,063,160    1,113,013 
MBS (USD), 2.00%, 06/01/2051   3,310,017    3,384,271 
MBS (USD), 2.50%, 06/01/2051   1,073,825    1,123,790 
Government National Mortgage Association          
MBS (USD), 4.50%, 06/20/2047   399,909    431,266 
MBS (USD), 3.50%, 11/20/2047   646,865    691,967 
MBS (USD), 4.00%, 05/20/2048   914,553    991,983 
MBS (USD), 4.00%, 09/20/2048   418,797    454,253 
MBS (USD), 3.00%, 06/20/2050   1,633,334    1,731,825 
MBS (USD), 3.50%, 06/20/2050   877,912    922,158 
MBS (USD), 2.50%, 03/20/2051   1,865,938    1,941,845 
         23,027,923 
Total U.S. Agencies        23,027,923 
U.S. TREASURIES (35.1%)          
UNITED STATES (35.1%)          
U.S. Treasury Bond          
(USD), 1.88%, 02/15/2051   1,690,000    1,678,117 
(USD), 2.38%, 05/15/2051   8,000,000    8,875,000 
U.S. Treasury Note          
(USD), 0.13%, 05/31/2023   4,000,000    3,997,344 
(USD), 0.25%, 05/15/2024   7,624,600    7,610,899 
(USD), 0.38%, 01/31/2026   4,908,800    4,853,193 
(USD), 0.75%, 04/30/2026   7,904,400    7,937,129 
(USD), 1.25%, 05/31/2028   3,848,900     $3,917,459
          38,869,141
Total U.S. Treasuries         38,869,141

 

See accompanying Notes to Statements of Investments.

Statement of Investments (concluded)

 

July 31, 2021 (Unaudited)

Aberdeen Total Return Bond Fund

 

AGENCY MORTGAGE-BACKED SECURITIES (1.1%)      
UNITED STATES (1.1%)      
Federal Home Loan Mortgage Corp. (USD), 5.00%, 10/01/2041   $201,446 $ 230,186
Federal National Mortgage Association (USD), 4.50%, 07/01/2040    530,889   584,782
Government National Mortgage Association (USD), 4.50%, 12/20/2045    391,452   434,543
         1,249,511
Total Agency Mortgage-Backed Securities        1,249,511
SHORT-TERM INVESTMENT—4.5%      
UNITED STATES (4.5%)          
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(d)    5,050,907   5,050,907
Total Short-Term Investment        5,050,907
Total Investments
(Cost $108,013,709) —99.9%		        110,804,846
Other Assets in Excess of Liabilities—0.1%        79,298
Net Assets—100.0%        $110,884,144

 

(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) 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
USD U.S. Dollar

 

See accompanying Notes to Statements of Investments.

Statement of Investments

 

July 31, 2021 (Unaudited)

Aberdeen Global High Income Fund

 

 

   Shares or
Principal
Amount		  Value
(US$)
CORPORATE BONDS (96.7%)      
ARGENTINA (0.4%)      
Transportadora de Gas del Sur SA (USD), 6.75%, 05/02/2025 (a)  $575,000   $540,506 
BERMUDA (0.4%)          
Highlands Holdings Bond Issuer Ltd. / Highlands Holdings Bond Co-Issuer, Inc., PIK (USD), 7.63%, 10/15/2025 (a)(b)   492,516    521,614 
BRAZIL (2.4%)          
Braskem Netherlands Finance BV (USD), 4.50%, 01/10/2028 (a)   810,000    857,142 
CSN Resources SA (USD), 7.63%, 04/17/2026 (a)   314,000    335,195 
NBM US Holdings, Inc. (USD), 7.00%, 05/14/2026 (a)   669,000    711,194 
Petrobras Global Finance BV (USD), 5.60%, 01/03/2031   536,000    596,568 
Rede D'or Finance Sarl          
(USD), 4.95%, 01/17/2028 (a)   380,000    403,279 
(USD), 4.50%, 01/22/2030 (a)   390,000    397,316 
         3,300,694 
CANADA (1.0%)          
NOVA Chemicals Corp. (USD), 4.25%, 05/15/2029 (a)   638,000    645,407 
Titan Acquisition Ltd. / Titan Co-Borrower LLC (USD), 7.75%, 04/15/2026 (a)   720,000    741,031 
         1,386,438 
CHILE (0.3%)          
VTR Finance NV (USD), 6.38%, 07/15/2028 (a)   442,000    466,942 
CHINA (1.0%)          
China Evergrande Group (USD), 9.50%, 04/11/2022 (a)   465,000    247,752 
Kaisa Group Holdings Ltd. (USD), 9.38%, 06/30/2024 (a)   495,000    382,388 
Sunac China Holdings Ltd. (USD), 7.95%, 10/11/2023 (a)   825,000    806,619 
         1,436,759 
EL SALVADOR (0.4%)          
AES El Salvador Trust II (USD), 6.75%, 03/28/2023 (a)   500,000    478,750 
FRANCE (0.2%)          
Altice France SA (USD), 7.38%, 05/01/2026 (a)   208,000    216,320 
GEORGIA (0.4%)          
Bank of Georgia JSC (USD), 6.00%, 07/26/2023 (a)   500,000    527,500 
GERMANY (4.8%)          
Aareal Bank AG, FRN (EUR), 1 year EUR Swap + 7.180%, 6.64%, 04/30/2022 (a)(c)(d)   600,000    731,508 
CT Investment GmbH (EUR), 5.50%, 04/15/2026 (a)   490,000    596,431 
Deutsche Bank AG, (fixed rate to 04/30/2025, variable rate thereafter), VRN (USD), 7.50%, 04/30/2025 (d)   400,000    438,000 
Deutsche Bank AG, (fixed rate to 04/30/2026, variable rate thereafter), VRN (GBP), 7.13%, 04/30/2026 (a)(d)   300,000    453,962 
Gruenenthal GmbH          
(EUR), 3.63%, 11/15/2026 (a)   299,000    363,964 
(EUR), 4.13%, 05/15/2028 (a)   230,000    280,368 
Nidda BondCo GmbH (EUR), 5.00%, 09/30/2025 (a)   305,000    361,838 
Nidda Healthcare Holding GmbH (EUR), 3.50%, 09/30/2024 (a)   623,000    738,923 
Schaeffler AG (EUR), 2.88%, 03/26/2027 (a)   350,000    446,845 

 

See accompanying Notes to Statements of Investments.

Statement of Investments (continued)

 

July 31, 2021 (Unaudited)

Aberdeen Global High Income Fund

 

Tele Columbus AG (EUR), 3.88%, 05/02/2025 (a)  $784,000   $935,120 
TK Elevator Midco GmbH (EUR), 4.38%, 07/15/2027 (a)   176,000    218,363 
Vertical Holdco GmbH (EUR), 6.63%, 07/15/2028 (a)   249,000    314,223 
ZF Europe Finance BV          
(EUR), 2.00%, 02/23/2026 (a)   300,000    362,636 
(EUR), 2.50%, 10/23/2027 (a)   300,000    368,330 
         6,610,511 
IRELAND (0.9%)          
Cimpress PLC (USD), 7.00%, 06/15/2026 (a)   1,190,000    1,249,500 
ISRAEL (1.8%)          
Teva Pharmaceutical Finance Netherlands III BV          
(USD), 7.13%, 01/31/2025   1,680,000    1,844,976 
(USD), 3.15%, 10/01/2026   323,000    309,951 
(USD), 6.75%, 03/01/2028   278,000    307,885 
         2,462,812 
ITALY (2.3%)          
Banca Monte dei Paschi di Siena SpA, (fixed rate to 01/18/2023, variable rate thereafter) (EUR), 5.38%, 01/18/2028 (a)   1,000,000    967,353 
Golden Goose SpA, FRN (EUR), 3 mo. Euribor + 4.875%, 4.88%, 05/14/2027 (a)(c)   348,000    406,664 
IMA Industria Macchine Automatiche SpA          
(EUR), 3.75%, 01/15/2028 (a)   231,000    275,531 
FRN (EUR), 3 mo. Euribor + 4.000%, 4.00%, 01/15/2028 (a)(c)   100,000    119,216 
Kedrion SpA (EUR), 3.38%, 05/15/2026 (a)   587,000    691,976 
UniCredit SpA, (fixed rate to 06/03/2023, variable rate thereafter) (EUR), 6.63%, 06/03/2023 (a)(d)   530,000    675,671 
         3,136,411 
JAMAICA (0.7%)          
Digicel Group 0.5 Ltd., PIK (USD), 10.00%, 04/01/2024 (b)   965,085    943,081 
JAPAN (1.2%)          
SoftBank Group Corp., (fixed rate to 07/19/2023, variable rate thereafter), VRN (USD), 6.00%, 07/19/2023 (a)(d)   1,620,000    1,624,293 
LUXEMBOURG (2.6%)          
Altice France Holding SA (EUR), 8.00%, 05/15/2027 (a)   283,000    360,467 
Cidron Aida Finco SARL (GBP), 6.25%, 04/01/2028 (a)   353,000    497,662 
Cidron Aida Finco Sarl (EUR), 5.00%, 04/01/2028 (a)   291,000    347,788 
Galapagos SA (EUR), 5.38%, 06/15/2021 (a)(e)(f)   60,500    —   
Garfunkelux Holdco 3 SA          
(EUR), 6.75%, 11/01/2025 (a)   231,000    284,287 
(GBP), 7.75%, 11/01/2025 (a)   240,000    346,155 
Kleopatra Finco Sarl (EUR), 4.25%, 03/01/2026 (a)   113,000    132,880 
Kleopatra Holdings 2 SCA (EUR), 6.50%, 09/01/2026 (a)   327,000    368,896 
LHMC Finco 2 Sarl, PIK (EUR), 7.25%, 10/02/2025 (a)(b)   281,216    323,566 
Matterhorn Telecom SA (EUR), 3.13%, 09/15/2026 (a)   787,000    944,034 
         3,605,735 
MEXICO (1.9%)          
Petroleos Mexicanos          
(USD), 6.49%, 01/23/2027   300,000    318,660 
(USD), 5.35%, 02/12/2028   1,580,000    1,557,090 
Sixsigma Networks Mexico SA de CV (USD), 7.50%, 05/02/2025 (a)   750,000    705,075 
         2,580,825 

 

See accompanying Notes to Statements of Investments.

Statement of Investments (continued)

 

July 31, 2021 (Unaudited)

Aberdeen Global High Income Fund

 

NETHERLANDS (2.6%)          
Leaseplan Corporation NV, (fixed rate to 05/29/2024, variable rate thereafter), VRN (EUR), 7.38%, 05/29/2024 (a)(d)  $250,000   $331,824 
Nobel Bidco BV (EUR), 3.13%, 06/15/2028 (a)   240,000    283,988 
OCI NV (USD), 5.25%, 11/01/2024 (a)   423,000    434,358 
Stichting AK Rabobank Certificaten (EUR), 2.19%, 12/29/2049 (a)(d)(g)   655,750    1,075,610 
Summer BidCo BV, PIK (EUR), 9.00%, 11/15/2025 (a)(b)   262,187    316,556 
Trivium Packaging Finance BV (USD), 5.50%, 08/15/2026 (a)   690,000    721,050 
Ziggo Bond Co. BV (EUR), 3.38%, 02/28/2030 (a)   382,000    450,816 
         3,614,202 
NIGERIA (0.6%)          
IHS Netherlands Holdco BV (USD), 8.00%, 09/18/2027 (a)   760,000    813,200 
PANAMA (0.7%)          
C&W Senior Financing DAC (USD), 6.88%, 09/15/2027 (a)   879,000    931,819 
SOUTH AFRICA (0.7%)          
Liquid Telecommunications Financing PLC (USD), 5.50%, 09/04/2026 (a)   985,000    1,016,421 
SPAIN (1.2%)          
Banco Bilbao Vizcaya Argentaria SA, Series 9 (fixed rate to 03/05/2025, variable rate thereafter) (USD), 6.50%, 03/05/2025 (d)   800,000    872,000 
Cirsa Finance International Sarl          
(USD), 7.88%, 12/20/2023 (a)   361,000    367,318 
(EUR), 3.63%, 09/30/2025 (a)(c)   408,000    468,260 
         1,707,578 
SWEDEN (1.0%)          
Intrum AB          
(EUR), 4.88%, 08/15/2025 (a)   179,000    222,552 
(EUR), 3.50%, 07/15/2026 (a)   375,000    451,209 
Verisure Holding AB (EUR), 3.25%, 02/15/2027 (a)   333,000    396,430 
Verisure Midholding AB (EUR), 5.25%, 02/15/2029 (a)   275,000    336,201 
         1,406,392 
TANZANIA (0.5%)          
HTA Group Ltd. (USD), 7.00%, 12/18/2025 (a)   617,000    652,478 
TURKEY (1.3%)          
Akbank Turk AS, (fixed rate to 03/16/2022, variable rate thereafter) (USD), 7.20%, 03/16/2027 (a)   619,000    627,418 
KOC Holding AS (USD), 5.25%, 03/15/2023 (a)   275,000    284,295 
Turk Telekomunikasyon AS (USD), 4.88%, 06/19/2024 (a)   410,000    428,155 
Turkiye Garanti Bankasi AS (USD), 5.25%, 09/13/2022 (a)   450,000    463,500 
         1,803,368 
UKRAINE (1.4%)          
Metinvest BV (USD), 8.50%, 04/23/2026 (a)   715,000    809,297 
MHP Lux SA (USD), 6.95%, 04/03/2026 (a)   1,009,000    1,059,743 
         1,869,040 
UNITED KINGDOM (5.1%)          
Arqiva Broadcast Finance PLC (GBP), 6.75%, 09/30/2023 (a)   700,000    996,586 
           

See accompanying Notes to Statements of Investments.

Statement of Investments (continued)

 

July 31, 2021 (Unaudited)

Aberdeen Global High Income Fund

 

Bellis Acquisition Co. PLC (GBP), 3.25%, 02/16/2026 (a)  $278,000   $385,454 
Bellis Finco PLC (GBP), 4.00%, 02/16/2027 (a)   111,000    153,712 
eG Global Finance PLC (EUR), 4.38%, 02/07/2025 (a)   700,000    816,673 
Ithaca Energy North Sea PLC (USD), 9.00%, 07/15/2026 (a)   581,000    578,659 
Jerrold Finco PLC (GBP), 5.25%, 01/15/2027 (a)   447,000    647,127 
Merlin Entertainments Ltd. (USD), 5.75%, 06/15/2026 (a)   695,000    724,537 
TalkTalk Telecom Group PLC (GBP), 3.88%, 02/20/2025 (a)   500,000    681,170 
Very Group Funding PLC (The) (GBP), 6.50%, 08/01/2026 (a)   739,000    1,025,454 
Virgin Media Vendor Financing Notes III DAC (GBP), 4.88%, 07/15/2028 (a)   744,000    1,051,845 
         7,061,217 
UNITED STATES (57.7%)          
99 Escrow Issuer, Inc. (USD), 7.50%, 01/15/2026 (a)   815,000    768,137 
Academy Ltd. (USD), 6.00%, 11/15/2027 (a)   1,023,000    1,098,446 
ACI Worldwide, Inc. (USD), 5.75%, 08/15/2026 (a)   754,000    788,872 
Adams Homes, Inc. (USD), 7.50%, 02/15/2025 (a)   1,145,000    1,199,387 
Adient Global Holdings Ltd. (USD), 4.88%, 08/15/2026 (a)   620,000    633,950 
Adient US LLC (USD), 9.00%, 04/15/2025 (a)   643,000    702,928 
Aethon United BR LP / Aethon United Finance Corp. (USD), 8.25%, 02/15/2026 (a)   664,000    710,285 
Affinity Gaming (USD), 6.88%, 12/15/2027 (a)   1,155,000    1,224,646 
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. (USD), 5.25%, 08/15/2027 (a)   200,000    204,220 
Austin BidCo, Inc. (USD), 7.13%, 12/15/2028 (a)   1,241,000    1,268,922 
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. (USD), 5.38%, 03/01/2029 (a)   879,000    914,160 
Ball Corp. (USD), 2.88%, 08/15/2030   745,000    737,267 
Banff Merger Sub, Inc. (EUR), 8.38%, 09/01/2026 (a)   625,000    774,769 
Bausch Health Americas, Inc. (USD), 8.50%, 01/31/2027 (a)   636,000    687,615 
Bausch Health Cos., Inc. (USD), 4.88%, 06/01/2028 (a)   378,000    390,035 
Carnival Corp.          
(USD), 10.50%, 02/01/2026 (a)   1,090,000    1,248,028 
(USD), 7.63%, 03/01/2026 (a)   156,000    164,775 
CCM Merger, Inc. (USD), 6.38%, 05/01/2026 (a)   887,000    928,450 
Cedar Fair LP / Canada's Wonderland Co. / Magnum Management Corp. / Millennium Op (USD), 6.50%, 10/01/2028   855,000    919,407 
Cengage Learning, Inc. (USD), 9.50%, 06/15/2024 (a)   598,000    612,781 
ChampionX Corp. (USD), 6.38%, 05/01/2026   885,000    919,099 
Cheniere Energy Partners LP (USD), 4.50%, 10/01/2029   535,000    577,131 
Cheniere Energy, Inc. (USD), 4.63%, 10/15/2028   327,000    344,717 
Cincinnati Bell, Inc. (USD), 8.00%, 10/15/2025 (a)   1,020,000    1,071,000 
Colgate Energy Partners III LLC          
(USD), 7.75%, 02/15/2026 (a)   667,000    715,384 
(USD), 5.88%, 07/01/2029 (a)   360,000    373,500 
Consolidated Communications, Inc.          
(USD), 5.00%, 10/01/2028 (a)   79,000    79,419 
(USD), 6.50%, 10/01/2028 (a)   1,175,000    1,268,683 
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. (USD), 5.63%, 05/01/2027 (a)   1,260,000    1,288,161 
DISH Network Corp. (USD), 3.38%, 08/15/2026 (h)   500,000    512,500 
DT Midstream, Inc.          
(USD), 4.13%, 06/15/2029 (a)   470,000    482,032 
(USD), 4.38%, 06/15/2031 (a)   382,000    396,325 
Energy Transfer LP, (fixed rate to 05/15/2025, variable rate thereafter), Series F, VRN (USD), 6.75%, 05/15/2025 (d)   830,000    829,461 
Enviva Partners LP / Enviva Partners Finance Corp. (USD), 6.50%, 01/15/2026 (a)   699,000    723,884 
EQT Corp.          
(USD), 3.13%, 05/15/2026 (a)   51,000    52,464 
(USD), 3.63%, 05/15/2031 (a)   376,000    398,259 

 

See accompanying Notes to Statements of Investments.

Statement of Investments (continued)

 

July 31, 2021 (Unaudited)

Aberdeen Global High Income Fund

 

Ford Motor Co.          
(USD), 8.50%, 04/21/2023  $367,000   $407,454 
(USD), 9.00%, 04/22/2025   1,189,000    1,463,600 
(USD), 9.63%, 04/22/2030   422,000    609,262 
Fortress Transportation and Infrastructure Investors LLC (USD), 9.75%, 08/01/2027 (a)   521,000    593,940 
FXI Holdings, Inc.          
(USD), 7.88%, 11/01/2024 (a)   410,000    420,250 
(USD), 12.25%, 11/15/2026 (a)   365,000    415,188 
Goodyear Tire & Rubber Co. (The)          
(USD), 9.50%, 05/31/2025   1,361,000    1,506,899 
(USD), 5.00%, 07/15/2029 (a)   822,000    864,719 
(USD), 5.25%, 07/15/2031 (a)   127,000    133,985 
(USD), 5.63%, 04/30/2033   230,000    244,375 
Great Lakes Dredge & Dock Corp. (USD), 5.25%, 06/01/2029 (a)   782,000    805,460 
Hilcorp Energy I LP / Hilcorp Finance Co.          
(USD), 5.75%, 02/01/2029 (a)   724,000    737,184 
(USD), 6.00%, 02/01/2031 (a)   194,000    202,463 
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc (USD), 5.00%, 06/01/2029 (a)   573,000    578,168 
Howmet Aerospace, Inc.          
(USD), 6.88%, 05/01/2025   1,363,000    1,586,137 
(USD), 5.95%, 02/01/2037   459,000    582,113 
Icahn Enterprises LP / Icahn Enterprises Finance Corp. (USD), 4.38%, 02/01/2029   814,000    824,175 
International Game Technology PLC (EUR), 3.50%, 06/15/2026 (a)   622,000    754,936 
Iron Mountain, Inc. (USD), 5.00%, 07/15/2028 (a)   610,000    633,637 
ITT Holdings LLC (USD), 6.50%, 08/01/2029 (a)   688,000    686,228 
JBS USA Food Co (USD), 5.75%, 01/15/2028 (a)   674,000    710,396 
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc. (USD), 5.50%, 01/15/2030 (a)   795,000    887,419 
Kraton Polymers LLC / Kraton Polymers Capital Corp. (USD), 4.25%, 12/15/2025 (a)   609,000    624,225 
LCPR Senior Secured Financing DAC (USD), 5.13%, 07/15/2029 (a)   776,000    793,460 
LD Holdings Group LLC (USD), 6.13%, 04/01/2028 (a)   796,000    790,245 
LogMeIn, Inc. (USD), 5.50%, 09/01/2027 (a)   932,000    966,158 
Macy's Retail Holdings LLC          
(USD), 3.63%, 06/01/2024   21,000    21,525 
(USD), 5.88%, 04/01/2029 (a)   638,000    672,994 
Macy's, Inc. (USD), 8.38%, 06/15/2025 (a)   629,000    685,610 
Marriott Ownership Resorts, Inc.          
(USD), 4.75%, 01/15/2028   667,000    674,604 
(USD), 4.50%, 06/15/2029 (a)   82,000    82,513 
MGM Resorts International (USD), 4.63%, 09/01/2026   730,000    761,025 
Michaels Cos Inc.(The) (USD), 5.25%, 05/01/2028 (a)   491,000    508,185 
Midcontinent Communications / Midcontinent Finance Corp. (USD), 5.38%, 08/15/2027 (a)   642,000    668,547 
Millennium Escrow Corp. (USD), 6.63%, 08/01/2026 (a)   529,000    540,019 
Nabors Industries, Inc. (USD), 5.10%, 09/15/2023   605,000    562,650 
Navient Corp. (USD), 6.50%, 06/15/2022   582,000    607,142 
NCL Corp. Ltd.          
(USD), 3.63%, 12/15/2024 (a)   350,000    332,938 
(USD), 10.25%, 02/01/2026 (a)   1,097,000    1,253,322 
(USD), 5.88%, 03/15/2026 (a)   463,000    466,473 
NCL Finance Ltd. (USD), 6.13%, 03/15/2028 (a)   131,000    132,310 
New Fortress Energy, Inc. (USD), 6.50%, 09/30/2026 (a)   587,000    592,999 
Novelis Corp.          
(USD), 3.25%, 11/15/2026 (a)   164,000    166,460 
(USD), 3.88%, 08/15/2031 (a)   164,000    165,845 

 

See accompanying Notes to Statements of Investments.

Statement of Investments (continued)

 

July 31, 2021 (Unaudited)

Aberdeen Global High Income Fund

 

NRG Energy, Inc.          
(USD), 3.38%, 02/15/2029 (a)  $1,311,000   $1,304,445 
(USD), 3.63%, 02/15/2031 (a)   241,000    242,808 
Occidental Petroleum Corp.          
(USD), 5.88%, 09/01/2025   298,000    330,375 
(USD), 5.50%, 12/01/2025   171,000    188,100 
(USD), 3.00%, 02/15/2027   245,000    243,163 
(USD), 6.38%, 09/01/2028   780,000    908,700 
(USD), 6.63%, 09/01/2030   298,000    363,560 
(USD), 4.40%, 04/15/2046   35,000    34,337 
Organon & Co. / Organon Foreign Debt Co-Issuer BV          
(EUR), 2.88%, 04/30/2028 (a)   249,000    300,988 
(USD), 4.13%, 04/30/2028 (a)   785,000    804,947 
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer (USD), 4.88%, 05/15/2029 (a)   491,000    502,048 
Photo Holdings Merger Sub, Inc. (USD), 8.50%, 10/01/2026 (a)   476,000    520,030 
Playtika Holding Corp. (USD), 4.25%, 03/15/2029 (a)   770,000    768,075 
Qwest Capital Funding, Inc.          
(USD), 6.88%, 07/15/2028   1,015,000    1,101,275 
(USD), 7.75%, 02/15/2031   1,020,000    1,114,350 
Royal Caribbean Cruises Ltd.          
(USD), 11.50%, 06/01/2025 (a)   350,000    400,750 
(USD), 3.70%, 03/15/2028   365,000    344,652 
(USD), 5.50%, 04/01/2028 (a)   271,000    276,339 
Sabre GLBL, Inc. (USD), 7.38%, 09/01/2025 (a)   412,000    440,003 
Sealed Air Corp. (USD), 4.00%, 12/01/2027 (a)   71,000    75,793 
Shutterfly, Inc., 2021 Term Loan (USD), 1M USD LIBOR, 5.75%, 09/25/2026 (c)   250,000    249,923 
Six Flags Entertainment Corp. (USD), 4.88%, 07/31/2024 (a)   510,000    512,550 
Six Flags Theme Parks, Inc. (USD), 7.00%, 07/01/2025 (a)   749,000    799,557 
Spirit AeroSystems, Inc. (USD), 7.50%, 04/15/2025 (a)   611,000    647,660 
Staples, Inc.          
(USD), 7.50%, 04/15/2026 (a)   920,000    933,800 
(USD), 10.75%, 04/15/2027 (a)   215,000    208,550 
Starwood Property Trust, Inc. (USD), 3.63%, 07/15/2026 (a)   766,000    778,447 
Summer BC Bidco B LLC (USD), 5.50%, 10/31/2026 (a)   721,000    731,815 
SunCoke Energy, Inc. (USD), 4.88%, 06/30/2029 (a)   1,153,000    1,161,647 
Tenet Healthcare Corp.          
(USD), 4.88%, 01/01/2026 (a)   525,000    542,063 
(USD), 6.13%, 10/01/2028 (a)   575,000    612,375 
Tenneco, Inc. (USD), 5.13%, 04/15/2029 (a)   501,000    514,778 
Turning Point Brands, Inc. (USD), 5.63%, 02/15/2026 (a)   1,099,000    1,142,960 
Univision Communications, Inc.          
(USD), 6.63%, 06/01/2027 (a)   618,000    664,542 
(USD), 4.50%, 05/01/2029 (a)   199,000    199,486 
USA Compression Partners LP / USA Compression Finance Corp. (USD), 6.88%, 09/01/2027   1,113,000    1,176,842 
Venture Global Calcasieu Pass LLC          
(USD), 3.88%, 08/15/2029 (a)   255,000    260,419 
(USD), 4.13%, 08/15/2031 (a)   255,000    264,040 
Viking Cruises Ltd. (USD), 13.00%, 05/15/2025 (a)   540,000    626,400 
Vine Energy Holdings LLC (USD), 6.75%, 04/15/2029 (a)   919,000    958,057 
Vistra Operations Co. LLC          
(USD), 5.63%, 02/15/2027 (a)   287,000    297,763 
(USD), 4.38%, 05/01/2029 (a)   221,000    226,525 
VM Consolidated, Inc. (USD), 5.50%, 04/15/2029 (a)   900,000    918,000 
Welbilt, Inc., 2018 Term Loan B (USD), 3M USD LIBOR, 2.63%, 10/23/2025 (c)   800,000    792,500 
         79,211,773 

 

See accompanying Notes to Statements of Investments.

Statement of Investments (continued)

 

July 31, 2021 (Unaudited)

Aberdeen Global High Income Fund

 

ZAMBIA (1.2%)
First Quantum Minerals Ltd.
(USD), 7.25%, 04/01/2023 (a) $ 672,000   $ 684,600
(USD), 6.50%, 03/01/2024 (a)   955,000     973,145
          1,657,745
Total Corporate Bonds         132,833,924
SHORT-TERM INVESTMENT —3.6%            
UNITED STATES (3.6%)
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(i)   4,916,414     4,916,414
Total Short-Term Investment         4,916,414
Total Investments
(Cost $132,663,569) —100.3%		         137,750,338
Liabilities in Excess of Other Assets—(0.3)%         (368,026)
Net Assets—100.0%       $ 137,382,312

 

(a) Denotes a security issued under Regulation S or Rule 144A.
(b) Payment-in-kind. This is a type of bond that pays interest in additional bonds rather than in cash.
(c) 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.
(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.
(f) Illiquid security.
(g) Indicates a stepped coupon bond. This bond was issued with a low coupon that gradually increases over the life of the bond.
(h) Convertible Bond
(i) Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021.

 

EUR Euro Currency
GBP British Pound Sterling
PIK Payment In Kind
PLC Public Limited Company
USD U.S. Dollar

 

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)
British Pound/United States Dollar
10/13/2021  Royal Bank of Canada (UK)  GBP    354,000  USD    487,675   $492,143 $ 4,468
10/13/2021  UBS AG  GBP    750,000  USD    1,047,168    1,042,677   (4,491)
Euro/United States Dollar
10/13/2021  Goldman Sachs & Co.  EUR    565,000  USD    666,576    671,173   4,597
10/13/2021  UBS AG  EUR    1,268,000  USD    1,495,870    1,506,278   10,408
                       $3,712,271  $ 14,982

 

See accompanying Notes to Statements of Investments.

Statement of Investments (concluded)

 

July 31, 2021 (Unaudited)

Aberdeen Global High Income Fund

 

 

Sale Contracts
Settlement Date		  Counterparty     Amount
Purchased		     Amount
Sold		   Fair Value    Unrealized
Depreciation
United States Dollar/British Pound                        
10/13/2021  JPMorgan Chase Bank N.A.  USD  5,583,501  GBP  4,052,000  $5,633,236 $ (49,735)
United States Dollar/Euro                    
10/13/2021  JPMorgan Chase Bank N.A.  USD  20,763,116  EUR  17,566,000   20,866,939   (103,823)
                  $26,500,175 $ (153,558)

 

* Certain contracts with different trade dates and like characteristics have been shown net.

                             

 

See accompanying Notes to Statements of Investments.

 

Notes to Statements of Investments

 

July 31, 2021 (unaudited)

 

 

 

1. Summary of Significant Accounting Policies

 

The following is a summary of significant accounting policies followed by the Aberdeen Investment Funds (the “Trust”) in the preparation of their financial statements. (Each series of the Trust are also referred to herein as a “Fund” or collectively, the “Funds”.) 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 books and 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 the Funds' valuation procedures (the "Valuation Procedures") and regulatory requirements. 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 (usually 4:00 p.m. Eastern Time).

 

Each Fund’s assets for which market quotations are readily available are valued at fair value on the basis of quotations furnished by a pricing service or provided by securities dealers. Equity investments are generally valued using the last sale price or official closing price taken from the primary market in which each security trades, or if no sales occurred during the day, at the mean of the current quoted bid and ask prices.

 

Foreign equity securities that are traded on foreign exchanges that close prior to 4:00 p.m. Eastern time are valued by applying valuation factors to the last sale price or the mean price as noted above. 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. 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 confidence threshold.

 

Per an amendment to the Valuation Procedures that became effective February 21, 2017, fixed income securities, which previously had been generally valued using the mean of bid and ask prices, are now generally valued using bid prices provided directly by independent third party services or provided directly from one or more broker dealers or market makers, each in accordance with the Valuation Procedures approved by the Trust’s Board of Trustees (the “Board”). The pricing services may use valuation models or matrix pricing, which consider yield or prices with respect to comparable bond quotations from bond dealers or by reference to other securities that are considered comparable in such characteristics as credit rating, interest rates and maturity date, to determine current fair value. 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 strategies employed by the Funds’ investment adviser, Aberdeen Asset Management Inc. (the “Adviser”), 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 fixed income 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.

 

Assets and liabilities initially expressed in foreign currency will be converted into U.S. Dollar values. 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. To the extent each Fund invests in other open-ended funds, the Fund will calculate its net asset value ("NAV") based upon the NAV of the underlying funds in which it invests. The prospectuses of these underlying funds explain the circumstances under which they will use good faith fair value pricing and the effects of such fair value pricing.

 

 

Notes to Statements of Investments (concluded)

 

July 31, 2021 (unaudited)

 

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, a “government money market fund” pursuant to Rule 2a-7 under the 1940 Act, which has an objective to maintain a $1.00 NAV, which is not guaranteed. Registered investment companies are valued at their net asset value as reported by such company. Generally, these investment types are categorized as Level 1 investments.

 

Derivative instruments are generally valued according to the following procedures. For forward currency exchange contracts the market value is interpolated by the pricing agent by using forward spot points obtained from an authorized pricing service. Futures contracts are generally valued at the most recent settlement price as of NAV determination. Generally for swap agreements, if quotes are unavailable from authorized pricing services swap pricing is determined using a modelling tool which considers and forecasts the impact of cash flow projections, prevailing and expected interest rate movements, and potential credit events. Swap prices are generally evaluated based upon the latest available data provided by the counterparty and rely upon an industry accepted modelling tool.

 

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. For options, swaps and warrants, a fair value price may be determined using readily available market quotations, prices provided by independent pricing services, or by using modeling tools provided by industry accepted financial data service providers. Key inputs to such tools may include yield and prices from comparable or reference assets, maturity or expiration dates, ratings and interest rates. In addition, the Adviser, through its pricing committee, may determine the fair value price in accordance with the Valuation Procedures approved by the Board.