NPORT-P
    false
    
      
      
        
          0001413594
          XXXXXXXX
        
      
      
      
      
        S000020297
        C000056979
        C000056976
        C000056974
        C000056978
        C000056977
      
      
      
    
  
  
    
      Aberdeen Funds
      811-22132
      0001413594
      549300U001OCRSJJXY43
      1900 Market Street
      Suite 200
      PHILADELPHIA
      
      19103
      215-405-5700
      Aberdeen U.S. Small Cap Equity Fund
      S000020297
      549300TNQR941YMI8Q62
      2021-10-31
      2021-07-31
      N
    
    
      1120485714.83
      4033819.33
      1116451895.50
      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
      0.00000000
      N
      
        
          
          
          
          
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        Ligand Pharmaceuticals Inc
        5493008K7TB0IKP37H79
        Ligand Pharmaceuticals Inc
        53220K504
        
          
        
        174592.00000000
        NS
        USD
        19817937.92000000
        1.775082115035
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        US Physical Therapy Inc
        529900KL1UXQYFIOMY96
        US Physical Therapy Inc
        90337L108
        
          
        
        124545.00000000
        NS
        USD
        14716237.20000000
        1.318125506286
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        First Interstate BancSystem Inc
        549300WRWYTYX0RCNJ43
        First Interstate BancSystem Inc
        32055Y201
        
          
        
        556020.00000000
        NS
        USD
        23308358.40000000
        2.087717213249
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Kulicke & Soffa Industries Inc
        529900H6BEIRBF429744
        Kulicke & Soffa Industries Inc
        501242101
        
          
        
        354965.00000000
        NS
        USD
        19295897.40000000
        1.728323224473
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        AMN Healthcare Services Inc
        529900W3ARRTCNFH2I39
        AMN Healthcare Services Inc
        001744101
        
          
        
        157179.00000000
        NS
        USD
        15805920.24000000
        1.415727834195
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Live Oak Bancshares Inc
        N/A
        Live Oak Bancshares Inc
        53803X105
        
          
        
        278727.00000000
        NS
        USD
        16776578.13000000
        1.502669142989
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Workiva Inc
        529900RTOQ8GRWHY1O58
        Workiva Inc
        98139A105
        
          
        
        171455.00000000
        NS
        USD
        22249715.35000000
        1.992895120665
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        RBC Bearings Inc
        N/A
        RBC Bearings Inc
        75524B104
        
          
        
        60780.00000000
        NS
        USD
        14283300.00000000
        1.279347552507
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Gibraltar Industries Inc
        N/A
        Gibraltar Industries Inc
        374689107
        
          
        
        286205.00000000
        NS
        USD
        21373789.40000000
        1.914438901142
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AMERISAFE Inc
        N/A
        AMERISAFE Inc
        03071H100
        
          
        
        112156.00000000
        NS
        USD
        6415323.20000000
        0.574617072697
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hamilton Lane Inc
        5493006OKN3V1NORM833
        Hamilton Lane Inc
        407497106
        
          
        
        118061.00000000
        NS
        USD
        10979673.00000000
        0.983443446534
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ranpak Holdings Corp
        5493000Z9EZR9DCYOO86
        Ranpak Holdings Corp
        75321W103
        
          
        
        91973.00000000
        NS
        USD
        2356348.26000000
        0.211056855158
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cognyte Software Ltd
        N/A
        Cognyte Software Ltd
        000000000
        
          
        
        446020.00000000
        NS
        USD
        11583139.40000000
        1.037495609679
        Long
        EC
        CORP
        IL
        N
        
        1
        
          N
          N
          N
        
      
      
        TMX Group Ltd
        549300N65GFVKSHGJW59
        TMX Group Ltd
        000000000
        
          
        
        132588.00000000
        NS
        
        14560661.97000000
        1.304190716025
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        Model N Inc
        549300WCIL3W0EYSBN94
        Model N Inc
        607525102
        
          
        
        415500.00000000
        NS
        USD
        13449735.00000000
        1.204685580651
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hub Group Inc
        N/A
        Hub Group Inc
        443320106
        
          
        
        329025.00000000
        NS
        USD
        21807777.00000000
        1.953310938688
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cohu Inc
        529900FJPORJ3JJ2XS33
        Cohu Inc
        192576106
        
          
        
        334019.00000000
        NS
        USD
        11827612.79000000
        1.059392960652
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Kaiser Aluminum Corp
        N/A
        Kaiser Aluminum Corp
        483007704
        
          
        
        192089.00000000
        NS
        USD
        23373389.52000000
        2.093542015935
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        National Vision Holdings Inc
        549300JHURCBLI5ROA42
        National Vision Holdings Inc
        63845R107
        
          
        
        347852.00000000
        NS
        USD
        18777050.96000000
        1.681850425950
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Graphic Packaging Holding Co
        N/A
        Graphic Packaging Holding Co
        388689101
        
          
        
        1288174.00000000
        NS
        USD
        24694295.58000000
        2.211854866253
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Wintrust Financial Corp
        Q774KI4AW80FHFW33O61
        Wintrust Financial Corp
        97650W108
        
          
        
        221708.00000000
        NS
        USD
        15829951.20000000
        1.417880274448
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CONMED Corp
        Z6C0YCECH9DCU5ZIQW84
        CONMED Corp
        207410101
        
          
        
        116024.00000000
        NS
        USD
        16004350.56000000
        1.433501131979
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dorman Products Inc
        N/A
        Dorman Products Inc
        258278100
        
          
        
        221306.00000000
        NS
        USD
        22385101.90000000
        2.005021621641
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Terreno Realty Corp
        N/A
        Terreno Realty Corp
        88146M101
        
          
        
        218005.00000000
        NS
        USD
        14902821.80000000
        1.334837789256
        Long
        EC
        
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BJ's Wholesale Club Holdings Inc
        549300UCIWH1C93V0J03
        BJ's Wholesale Club Holdings Inc
        05550J101
        
          
        
        394744.00000000
        NS
        USD
        19989836.16000000
        1.790478948584
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        WNS Holdings Ltd
        529900RM7QHUD3W9DM42
        WNS Holdings Ltd
        92932M101
        
          
        
        310382.00000000
        NS
        USD
        25556853.88000000
        2.289113752505
        Long
        EC
        CORP
        JE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Addus HomeCare Corp
        52990090ZT33AKPDBX62
        Addus HomeCare Corp
        006739106
        
          
        
        158835.00000000
        NS
        USD
        13785289.65000000
        1.234741031437
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Shyft Group Inc/The
        549300YY0TB51BGRV994
        Shyft Group Inc/The
        825698103
        
          
        
        477269.00000000
        NS
        USD
        18823489.36000000
        1.686009888636
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Materion Corp
        549300CJ5RI351SUYT02
        Materion Corp
        576690101
        
          
        
        142633.00000000
        NS
        USD
        10178290.88000000
        0.911664078051
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Saia Inc
        549300WNPG4N9GBOYB29
        Saia Inc
        78709Y105
        
          
        
        91720.00000000
        NS
        USD
        20728720.00000000
        1.856660379506
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CyberArk Software Ltd
        529900YEXNDM894PWS93
        CyberArk Software Ltd
        000000000
        
          
        
        162713.00000000
        NS
        USD
        23110127.39000000
        2.069961767555
        Long
        EC
        CORP
        IL
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Jamieson Wellness Inc
        N/A
        Jamieson Wellness Inc
        000000000
        
          
        
        662015.00000000
        NS
        
        18556159.47000000
        1.662065293166
        Long
        EC
        CORP
        CA
        Y
        
        1
        
          N
          N
          N
        
      
      
        Perficient Inc
        549300HTBXKL2755T650
        Perficient Inc
        71375U101
        
          
        
        362364.00000000
        NS
        USD
        34167301.56000000
        3.060346952494
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Verint Systems Inc
        549300KEQJS5FRVUCO94
        Verint Systems Inc
        92343X100
        
          
        
        415369.00000000
        NS
        USD
        17723795.23000000
        1.587510872742
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ASGN Inc
        LZBNYYCBUKY537072438
        ASGN Inc
        00191U102
        
          
        
        187376.00000000
        NS
        USD
        18949334.88000000
        1.697281804650
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Health Catalyst Inc
        549300223PL6GWKVJG92
        Health Catalyst Inc
        42225T107
        
          
        
        158480.00000000
        NS
        USD
        9201348.80000000
        0.824159897715
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PJT Partners Inc
        549300W3WBEQUBKYTN87
        PJT Partners Inc
        69343T107
        
          
        
        335309.00000000
        NS
        USD
        26211104.53000000
        2.347714633800
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        36707963.74000000
        NS
        USD
        36707963.74000000
        3.287912707028
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        LGI Homes Inc
        549300W02B4WNV8CV109
        LGI Homes Inc
        50187T106
        
          
        
        120340.00000000
        NS
        USD
        20566106.00000000
        1.842095130376
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Medpace Holdings Inc
        549300H8TYEUVTW14A54
        Medpace Holdings Inc
        58506Q109
        
          
        
        117123.00000000
        NS
        USD
        20606620.62000000
        1.845724003251
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Werner Enterprises Inc
        549300P6XRGOCHHJST37
        Werner Enterprises Inc
        950755108
        
          
        
        537482.00000000
        NS
        USD
        24568302.22000000
        2.200569708289
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Heska Corp
        529900O1OR2EB7L0HY27
        Heska Corp
        42805E306
        
          
        
        71312.00000000
        NS
        USD
        17164798.40000000
        1.537441825230
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Helios Technologies Inc
        5493000BCJSMIDRNTI78
        Helios Technologies Inc
        42328H109
        
          
        
        117931.00000000
        NS
        USD
        9534721.35000000
        0.854019898970
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        LCI Industries
        549300E1B98YNJ1WIQ04
        LCI Industries
        50189K103
        
          
        
        194419.00000000
        NS
        USD
        28350178.58000000
        2.539310354012
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        J & J Snack Foods Corp
        N/A
        J & J Snack Foods Corp
        466032109
        
          
        
        107311.00000000
        NS
        USD
        17639782.18000000
        1.579985868723
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        3321597.00000000
        NS
        USD
        3321597.00000000
        0.297513669275
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PRA Group Inc
        549300Q5HW3JSSB86K27
        PRA Group Inc
        69354N106
        
          
        
        476477.00000000
        NS
        USD
        18482542.83000000
        1.655471490038
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Casella Waste Systems Inc
        8EU0XUFVJ48U37IIDH51
        Casella Waste Systems Inc
        147448104
        
          
        
        320277.00000000
        NS
        USD
        22028652.06000000
        1.973094599847
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hannon Armstrong Sustainable Infrastructure Capital Inc
        N/A
        Hannon Armstrong Sustainable Infrastructure Capital Inc
        41068X100
        
          
        
        449766.00000000
        NS
        USD
        25546708.80000000
        2.288205063108
        Long
        EC
        
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ameresco Inc
        529900NZXZGBCBXYY327
        Ameresco Inc
        02361E108
        
          
        
        265284.00000000
        NS
        USD
        18179912.52000000
        1.628365054802
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Rapid7 Inc
        549300GNVG5D60KEYN14
        Rapid7 Inc
        753422104
        
          
        
        145317.00000000
        NS
        USD
        16529808.75000000
        1.480566141418
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cogent Communications Holdings Inc
        N/A
        Cogent Communications Holdings Inc
        19239V302
        
          
        
        263567.00000000
        NS
        USD
        20455434.87000000
        1.832182376370
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Integer Holdings Corp
        549300SUD2ED5XG6X569
        Integer Holdings Corp
        45826H109
        
          
        
        266856.00000000
        NS
        USD
        26122533.84000000
        2.339781404401
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Inmode Ltd
        N/A
        Inmode Ltd
        000000000
        
          
        
        254548.00000000
        NS
        USD
        28934471.16000000
        2.591645128341
        Long
        EC
        CORP
        IL
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Glacier Bancorp Inc
        549300SMJAUKZB5D7V74
        Glacier Bancorp Inc
        37637Q105
        
          
        
        229264.00000000
        NS
        USD
        11820851.84000000
        1.058787385972
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CI Financial Corp
        549300M9W7JJQSVCEM78
        CI Financial Corp
        000000000
        
          
        
        907163.00000000
        NS
        
        16542127.48000000
        1.481669523485
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        Mercury Systems Inc
        549300P3B84SGK7HH679
        Mercury Systems Inc
        589378108
        
          
        
        322889.00000000
        NS
        USD
        21310674.00000000
        1.908785688473
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Atkore Inc
        52990002TI38AM4RPV48
        Atkore Inc
        047649108
        
          
        
        334984.00000000
        NS
        USD
        25160648.24000000
        2.253625824938
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Stride Inc
        254900BRWS3AFONWU277
        Stride Inc
        86333M108
        
          
        
        567576.00000000
        NS
        USD
        17401880.16000000
        1.558677111852
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Onto Innovation Inc
        254900RXZVN73CHOO062
        Onto Innovation Inc
        683344105
        
          
        
        225628.00000000
        NS
        USD
        15812010.24000000
        1.416273312243
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
    
    
      
    
    
      2021-08-30
      Aberdeen Funds
      Sharon Ferrari
      Sharon Ferrari
      Assistant Treasurer
    
  
  XXXX




 

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)   USD1,802,852   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