NPORT-P
    false
    
      
      
        
          0001413594
          XXXXXXXX
        
      
      
      
      
        S000061518
        C000199212
        C000199211
      
      
      
    
  
  
    
      Aberdeen Funds
      811-22132
      0001413594
      549300U001OCRSJJXY43
      1900 Market Street
      Suite 200
      PHILADELPHIA
      
      19103
      215-405-5700
      Aberdeen Global Infrastructure Fund
      S000061518
      2549003OIFOSYQA5PX10
      2021-10-31
      2021-07-31
      N
    
    
      58660335.39
      147308.37
      58513027.02
      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
      9257.49000000
      
        
      
      
        
          
            UST
          
        
      
      
        
          
          
        
        
          
            
            
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        Sarana Menara Nusantara Tbk PT
        N/A
        Sarana Menara Nusantara Tbk PT
        000000000
        
          
        
        8320100.00000000
        NS
        
        842807.60000000
        1.440376003299
        Long
        EC
        CORP
        ID
        N
        
        2
        
          N
          N
          N
        
      
      
        CCR SA
        N/A
        CCR SA
        000000000
        
          
        
        592200.00000000
        NS
        
        1478154.85000000
        2.526197883241
        Long
        EC
        CORP
        BR
        N
        
        1
        
          N
          N
          N
        
      
      
        DISH Network Corp
        529900U350CWHH15G169
        DISH Network Corp
        25470M109
        
          
        
        15200.00000000
        NS
        USD
        636728.00000000
        1.088181610878
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        American Electric Power Co Inc
        1B4S6S7G0TW5EE83BO58
        American Electric Power Co Inc
        025537101
        
          
        
        7900.00000000
        NS
        USD
        696148.00000000
        1.189731646872
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vistra Corp
        549300KP43CPCUJOOG15
        Vistra Corp
        92840M102
        
          
        
        45600.00000000
        NS
        USD
        873240.00000000
        1.492385618165
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Union Pacific Corp
        549300LMMRSZZCZ8CL11
        Union Pacific Corp
        907818108
        
          
        
        3800.00000000
        NS
        USD
        831288.00000000
        1.420688763402
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zhejiang Expressway Co Ltd
        213800X1ZRKM85U9H438
        Zhejiang Expressway Co Ltd
        000000000
        
          
        
        626100.00000000
        NS
        
        528521.00000000
        0.903253560646
        Long
        EC
        CORP
        CN
        N
        
        1
        
          N
          N
          N
        
      
      
        Sempra Energy
        PBBKGKLRK5S5C0Y4T545
        Sempra Energy
        000000000
        
          
        
        4879.00000000
        NS
        
        643301.28000000
        1.099415485341
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TravelCenters of America Inc
        529900FQY3V2OO9M4Z65
        TravelCenters of America Inc
        89421B109
        
          
        
        16100.00000000
        NS
        USD
        465612.00000000
        0.795740749903
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NextEra Energy Inc
        N/A
        NextEra Energy Inc
        65339F101
        
          
        
        12800.00000000
        NS
        USD
        997120.00000000
        1.704099156687
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        COSCO SHIPPING Ports Ltd
        5299008QX6KA3JHWK507
        COSCO Shipping Ports Ltd
        000000000
        
          
        
        881775.00000000
        NS
        
        629283.93000000
        1.075459537898
        Long
        EC
        CORP
        BM
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Williams Cos Inc/The
        D71FAKCBLFS2O0RBPG08
        Williams Cos Inc/The
        969457100
        
          
        
        56100.00000000
        NS
        USD
        1405305.00000000
        2.401695949723
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Atlantia SpA
        8156008DEC771409C487
        Atlantia SpA
        000000000
        
          
        
        44500.00000000
        NS
        
        807162.00000000
        1.379456919437
        Long
        EC
        CORP
        IT
        N
        
        2
        
          N
          N
          N
        
      
      
        Buzzi Unicem SpA
        5299003DX5YLKSVJ6K59
        Buzzi Unicem SpA
        000000000
        
          
        
        27100.00000000
        NS
        
        716336.26000000
        1.224233809943
        Long
        EC
        CORP
        IT
        N
        
        2
        
          N
          N
          N
        
      
      
        Getlink SE
        9695007ZEQ7M0OE74G82
        Getlink SE
        000000000
        
          
        
        47800.00000000
        NS
        
        765688.30000000
        1.308577489485
        Long
        EC
        CORP
        FR
        N
        
        2
        
          N
          N
          N
        
      
      
        National Grid PLC
        8R95QZMKZLJX5Q2XR704
        National Grid PLC
        636274409
        
          
        
        17700.00000000
        NS
        USD
        1138464.00000000
        1.945659040355
        Long
        EC
        CORP
        GB
        N
        
        1
        
          N
          N
          N
        
      
      
        Clearway Energy Inc
        549300LHAZ9HA9G3XC48
        Clearway Energy Inc
        18539C204
        
          
        
        24500.00000000
        NS
        USD
        702660.00000000
        1.200860792520
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Enbridge Inc
        98TPTUM4IVMFCZBCUR27
        Enbridge Inc
        000000000
        
          
        
        39000.00000000
        NS
        
        1537367.75000000
        2.627393980958
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        Omega Geracao SA
        N/A
        Omega Geracao SA
        000000000
        
          
        
        83900.00000000
        NS
        
        581859.17000000
        0.994409620615
        Long
        EC
        CORP
        BR
        N
        
        1
        
          N
          N
          N
        
      
      
        Tower Bersama Infrastructure Tbk PT
        213800ELUARKGNPAPY10
        Tower Bersama Infrastructure Tbk PT
        000000000
        
          
        
        2660200.00000000
        NS
        
        590867.72000000
        1.009805422983
        Long
        EC
        CORP
        ID
        N
        
        2
        
          N
          N
          N
        
      
      
        Norfolk Southern Corp
        54930036C8MWP850MI84
        Norfolk Southern Corp
        655844108
        
          
        
        4200.00000000
        NS
        USD
        1082886.00000000
        1.850675063571
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Enel SpA
        WOCMU6HCI0OJWNPRZS33
        Enel SpA
        000000000
        
          
        
        126200.00000000
        NS
        
        1162999.55000000
        1.987590813926
        Long
        EC
        CORP
        IT
        N
        
        2
        
          N
          N
          N
        
      
      
        American Tower Corp
        5493006ORUSIL88JOE18
        American Tower Corp
        03027X100
        
          
        
        5100.00000000
        NS
        USD
        1442280.00000000
        2.464887006284
        Long
        EC
        
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Crown Castle International Corp
        54930012H97VSM0I2R19
        Crown Castle International Corp
        22822V101
        
          
        
        7900.00000000
        NS
        USD
        1525411.00000000
        2.606959642471
        Long
        EC
        
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vantage Towers AG
        213800BBQO965UPQ7J59
        Vantage Towers AG
        000000000
        
          
        
        21845.00000000
        NS
        
        763674.37000000
        1.305135640545
        Long
        EC
        CORP
        DE
        N
        
        1
        
          N
          N
          N
        
      
      
        Cellnex Telecom SA
        5493008T4YG3AQUI7P67
        Cellnex Telecom SA
        000000000
        
          
        
        30000.00000000
        NS
        
        1956498.06000000
        3.343696540141
        Long
        EC
        CORP
        ES
        Y
        
        2
        
          N
          N
          N
        
      
      
        CMS Energy Corp
        549300IA9XFBAGNIBW29
        CMS Energy Corp
        125896100
        
          
        
        19100.00000000
        NS
        USD
        1180189.00000000
        2.016967947319
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        2908682.01000000
        NS
        USD
        2908682.01000000
        4.970999037540
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Engie SA
        LAXUQCHT4FH58LRZDY46
        Engie SA
        000000000
        
          
        
        57200.00000000
        NS
        
        762779.47000000
        1.303606237529
        Long
        EC
        CORP
        FR
        N
        
        2
        
          N
          N
          N
        
      
      
        Kansas City Southern
        5493008C12PZMWP3WY03
        Kansas City Southern
        485170302
        
          
        
        4400.00000000
        NS
        USD
        1178320.00000000
        2.013773786813
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        East Japan Railway Co
        353800SENYJ2DSM6PS44
        East Japan Railway Co
        000000000
        
          
        
        6100.00000000
        NS
        
        406396.45000000
        0.694540123280
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Koninklijke KPN NV
        549300YO0JZHAL7FVP81
        Koninklijke KPN NV
        000000000
        
          
        
        182900.00000000
        NS
        
        600162.80000000
        1.025690911179
        Long
        EC
        CORP
        NL
        N
        
        2
        
          N
          N
          N
        
      
      
        Corp America Airports SA
        N/A
        Corp America Airports SA
        000000000
        
          
        
        102600.00000000
        NS
        USD
        570456.00000000
        0.974921362049
        Long
        EC
        CORP
        LU
        
        N
        
        1
        
          N
          N
          
        
      
      
        Dycom Industries Inc
        549300F56EKTHQI3WT60
        Dycom Industries Inc
        267475101
        
          
        
        6700.00000000
        NS
        USD
        464980.00000000
        0.794660648544
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Atlantica Sustainable Infrastructure PLC
        549300ITBBGKJ651R879
        Atlantica Sustainable Infrastructure PLC
        000000000
        
          
        
        25400.00000000
        NS
        USD
        1009904.00000000
        1.725947282909
        Long
        EC
        CORP
        GB
        
        N
        
        1
        
          N
          N
          N
        
      
      
        SES SA
        5493008JPA4HYMH1HX51
        SES SA
        000000000
        
          
        
        92700.00000000
        NS
        
        714659.37000000
        1.221367969487
        Long
        EC
        CORP
        LU
        N
        
        2
        
          N
          N
          N
        
      
      
        Veolia Environnement SA
        969500LENY69X51OOT31
        Veolia Environnement SA
        000000000
        
          
        
        29800.00000000
        NS
        
        977363.31000000
        1.670334555868
        Long
        EC
        CORP
        FR
        N
        
        2
        
          N
          N
          N
        
      
      
        Evergy Inc
        549300PGTHDQY6PSUI61
        Evergy Inc
        30034W106
        
          
        
        18100.00000000
        NS
        USD
        1180482.00000000
        2.017468690513
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Canadian Pacific Railway Ltd
        N/A
        Canadian Pacific Railway Ltd
        13645T100
        
          
        
        12300.00000000
        NS
        USD
        914136.00000000
        1.562277746607
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        GEO Group Inc/The
        N/A
        GEO Group Inc/The
        36162J106
        
          
        
        13600.00000000
        NS
        USD
        94112.00000000
        0.160839397298
        Long
        EC
        
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Kinder Morgan Inc
        549300WR7IX8XE0TBO16
        Kinder Morgan Inc
        49456B101
        
          
        
        78700.00000000
        NS
        USD
        1367806.00000000
        2.337609366086
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Royal Bank of Canada
        ES7IP3U3RHIGC71XBU11
        PURCHASED USD / SOLD HKD
        000000000
        
          
        
        1.00000000
        NC
        
        1037.41000000
        0.001772955618
        N/A
        DFE
        
        US
        N
        
        2
        
          
            
              Royal Bank of Canada
              ES7IP3U3RHIGC71XBU11
            
            14000000.00000000
            HKD
            1802852.89000000
            USD
            2021-10-13
            1037.41000000
          
        
        
          N
          N
          N
        
      
      
        CoreCivic Inc
        529900JFA3K6PTLT8B15
        CoreCivic Inc
        21871N101
        
          
        
        32000.00000000
        NS
        USD
        328960.00000000
        0.562199593412
        Long
        EC
        
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        FirstEnergy Corp
        549300SVYJS666PQJH88
        FirstEnergy Corp
        337932107
        
          
        
        24400.00000000
        NS
        USD
        935008.00000000
        1.597948435790
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EDP Renovaveis SA
        529900MUFAH07Q1TAX06
        EDP Renovaveis SA
        000000000
        
          
        
        60900.00000000
        NS
        
        1430403.34000000
        2.444589543301
        Long
        EC
        CORP
        ES
        N
        
        1
        
          N
          N
          N
        
      
      
        Aena SME SA
        959800R7QMXKF0NFMT29
        Aena SME SA
        000000000
        
          
        
        6100.00000000
        NS
        
        971405.09000000
        1.660151831946
        Long
        EC
        CORP
        ES
        Y
        
        2
        
          N
          N
          N
        
      
      
        China Everbright Environment Group Ltd
        N/A
        China Everbright Environment Group Ltd
        000000000
        
          
        
        800333.00000000
        NS
        
        434060.38000000
        0.741818364398
        Long
        EC
        CORP
        HK
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Waste Connections Inc
        549300HDLRTPBQU69P29
        Waste Connections Inc
        94106B101
        
          
        
        5700.00000000
        NS
        USD
        722133.00000000
        1.234140561132
        Long
        EC
        CORP
        CA
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Eiffage SA
        969500OQXKE5WDM9M994
        Eiffage SA
        000000000
        
          
        
        8700.00000000
        NS
        
        886918.43000000
        1.515762344164
        Long
        EC
        CORP
        FR
        N
        
        2
        
          N
          N
          N
        
      
      
        Telefonica Brasil SA
        529900MTGG2HSDBIWG79
        Telefonica Brasil SA
        87936R205
        
          
        
        71000.00000000
        NS
        USD
        566580.00000000
        0.968297196120
        Long
        EC
        CORP
        BR
        N
        
        1
        
          N
          N
          N
        
      
      
        RWE AG
        529900GB7KCA94ACC940
        RWE AG
        000000000
        
          
        
        38100.00000000
        NS
        
        1354670.85000000
        2.315161117091
        Long
        EC
        CORP
        DE
        N
        
        2
        
          N
          N
          N
        
      
      
        Vinci SA
        213800WFQ334R8UXUG83
        Vinci SA
        000000000
        
          
        
        12500.00000000
        NS
        
        1323430.22000000
        2.261770220070
        Long
        EC
        CORP
        FR
        N
        
        2
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        10142.48000000
        NS
        USD
        10142.48000000
        0.017333712707
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Infrastrutture Wireless Italiane SpA
        81560066183FE361C071
        Infrastrutture Wireless Italiane SpA
        000000000
        
          
        
        63300.00000000
        NS
        
        715047.85000000
        1.222031890019
        Long
        EC
        CORP
        IT
        Y
        
        2
        
          N
          N
          N
        
      
      
        Shenandoah Telecommunications Co
        549300XH3H4OUKFPHS84
        Shenandoah Telecommunications Co
        82312B106
        
          
        
        10900.00000000
        NS
        USD
        575411.00000000
        0.983389561786
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Promotora y Operadora de Infraestructura SAB de CV
        52990035X6RK8DBUWA73
        Promotora y Operadora de Infraestructura SAB de CV
        000000000
        
          
        
        129400.00000000
        NS
        
        977280.80000000
        1.670193544534
        Long
        EC
        CORP
        MX
        N
        
        1
        
          N
          N
          N
        
      
      
        Rumo SA
        N/A
        Rumo SA
        000000000
        
          
        
        210100.00000000
        NS
        
        833421.21000000
        1.424334464383
        Long
        EC
        CORP
        BR
        N
        
        1
        
          N
          N
          N
        
      
      
        Vodafone Group PLC
        213800TB53ELEUKM7Q61
        Vodafone Group PLC
        000000000
        
          
        
        502900.00000000
        NS
        
        808638.88000000
        1.381980938575
        Long
        EC
        CORP
        GB
        N
        
        2
        
          N
          N
          N
        
      
      
        T-Mobile US Inc
        549300QHIJYOHPACPG31
        T-Mobile US Inc
        872590104
        
          
        
        3900.00000000
        NS
        USD
        561678.00000000
        0.959919574504
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fraport AG Frankfurt Airport Services Worldwide
        5299001ERX0K10IZUL40
        Fraport AG Frankfurt Airport Services Worldwide
        000000000
        
          
        
        10900.00000000
        NS
        
        716934.14000000
        1.225255599500
        Long
        EC
        CORP
        DE
        N
        
        2
        
          N
          N
          N
        
      
      
        Beijing Enterprises Water Group Ltd
        529900TWUN2ALJKWRR11
        Beijing Enterprises Water Group Ltd
        000000000
        
          
        
        1154000.00000000
        NS
        
        423605.61000000
        0.723950941480
        Long
        EC
        CORP
        BM
        
        N
        
        2
        
          N
          N
          N
        
      
      
        International Container Terminal Services Inc
        254900FU1MWK0I0Q4J61
        International Container Terminal Services Inc
        000000000
        
          
        
        370000.00000000
        NS
        
        1151045.31000000
        1.967160765083
        Long
        EC
        CORP
        PH
        N
        
        1
        
          N
          N
          N
        
      
      
        Ferrovial SA
        95980020140005757903
        Ferrovial SA
        000000000
        
          
        
        56146.00000000
        NS
        
        1666141.39000000
        2.847470853679
        Long
        EC
        CORP
        ES
        N
        
        2
        
          N
          N
          N
        
      
      
        Telenor ASA
        549300IM1QSBY4SLPM26
        Telenor ASA
        000000000
        
          
        
        39100.00000000
        NS
        
        678859.74000000
        1.160185645100
        Long
        EC
        CORP
        NO
        N
        
        2
        
          N
          N
          N
        
      
      
        Malaysia Airports Holdings Bhd
        2549003NBM1LN55SZ370
        Malaysia Airports Holdings Bhd
        000000000
        
          
        
        550100.00000000
        NS
        
        753733.20000000
        1.288145970883
        Long
        EC
        CORP
        MY
        N
        
        2
        
          N
          N
          N
        
      
      
        Loma Negra Cia Industrial Argentina SA
        529900VKOQQJ8U9DDK92
        Loma Negra Cia Industrial Argentina SA
        54150E104
        
          
        
        65300.00000000
        NS
        USD
        514564.00000000
        0.879400752629
        Long
        EC
        CORP
        AR
        N
        
        1
        
          N
          N
          N
        
      
      
        Pennon Group PLC
        213800V1CCTS41GWH423
        Pennon Group PLC
        000000000
        
          
        
        0.66800000
        NS
        
        11.86000000
        0.000020268990
        Long
        EC
        CORP
        GB
        N
        
        2
        
          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%)