Portfolio of Investments (unaudited)
As of January 31, 2021
Aberdeen Global Dynamic Dividend Fund
| Shares | Value | |||||||
| COMMON STOCKS (98.4%) | ||||||||
| AUSTRALIA (1.1%) | ||||||||
| Materials (1.1%) | ||||||||
| Rio Tinto PLC, ADR | 22,215 | $ | 1,697,670 | |||||
| BRAZIL (2.1%) | ||||||||
| Industrials (1.0%) | ||||||||
| CCR SA | 679,200 | 1,504,533 | ||||||
| Materials (1.1%) | ||||||||
| Vale SA, ADR | 97,600 | 1,576,240 | ||||||
| Total Brazil | 3,080,773 | |||||||
| CANADA (2.5%) | ||||||||
| Energy (1.5%) | ||||||||
| Enbridge, Inc. | 65,700 | 2,207,520 | ||||||
| Materials (1.0%) | ||||||||
| Barrick Gold Corp. | 71,600 | 1,601,692 | ||||||
| Total Canada | 3,809,212 | |||||||
| CHINA (3.4%) | ||||||||
| Communication Services (1.2%) | ||||||||
| Tencent Holdings Ltd. | 19,100 | 1,701,873 | ||||||
| Consumer Discretionary (1.1%) | ||||||||
| Shenzhou International Group Holdings Ltd. | 86,600 | 1,688,830 | ||||||
| Financials (1.1%) | ||||||||
| Ping An Insurance Group Co. of China Ltd., H Shares | 140,500 | 1,654,778 | ||||||
| Total China | 5,045,481 | |||||||
| DENMARK (0.8%) | ||||||||
| Financials (0.8%) | ||||||||
| Tryg A/S | 40,000 | 1,244,408 | ||||||
| FINLAND (0.7%) | ||||||||
| Information Technology (0.7%) | ||||||||
| Nokia OYJ(a) | 214,106 | 1,028,905 | ||||||
| FRANCE (4.6%) | ||||||||
| Consumer Discretionary (1.0%) | ||||||||
| LVMH Moet Hennessy Louis Vuitton SE | 2,400 | 1,451,028 | ||||||
| Energy (0.9%) | ||||||||
| TOTAL SE, ADR(b) | 33,100 | 1,392,848 | ||||||
See Notes to Portfolio of Investments.
Aberdeen Global Dynamic Dividend Fund
Portfolio of Investments (unaudited) (continued)
As of January 31, 2021
Aberdeen Global Dynamic Dividend Fund
| Financials (0.7%) | ||||||||
| AXA SA | 47,500 | $ | 1,052,331 | |||||
| Industrials (2.0%) | ||||||||
| Alstom SA(a) | 26,200 | 1,420,553 | ||||||
| Schneider Electric SE | 11,100 | 1,624,603 | ||||||
| 3,045,156 | ||||||||
| Total France | 6,941,363 | |||||||
| GERMANY (5.4%) | ||||||||
| Financials (1.1%) | ||||||||
| Deutsche Boerse AG | 10,100 | 1,621,585 | ||||||
| Health Care (0.8%) | ||||||||
| Bayer AG | 18,200 | 1,101,516 | ||||||
| Information Technology (1.1%) | ||||||||
| Infineon Technologies AG | 41,400 | 1,658,631 | ||||||
| Materials (0.9%) | ||||||||
| Linde PLC(a) | 5,700 | 1,391,818 | ||||||
| Utilities (1.5%) | ||||||||
| RWE AG | 53,200 | 2,285,380 | ||||||
| Total Germany | 8,058,930 | |||||||
| HONG KONG (1.3%) | ||||||||
| Consumer Staples (0.1%) | ||||||||
| Convenience Retail Asia Ltd. | 1,184,000 | 109,904 | ||||||
| Financials (1.2%) | ||||||||
| Hong Kong Exchanges & Clearing Ltd. | 27,800 | 1,777,314 | ||||||
| Total Hong Kong | 1,887,218 | |||||||
| INDONESIA (2.1%) | ||||||||
| Communication Services (2.1%) | ||||||||
| Telkom Indonesia Persero Tbk PT | 7,397,500 | 1,634,996 | ||||||
| Tower Bersama Infrastructure Tbk PT | 9,481,600 | 1,508,484 | ||||||
| Total Indonesia | 3,143,480 | |||||||
| ITALY (1.2%) | ||||||||
| Utilities (1.2%) | ||||||||
| Enel SpA | 189,100 | 1,875,491 | ||||||
| JAPAN (2.9%) | ||||||||
| Financials (0.7%) | ||||||||
| Mitsubishi UFJ Financial Group, Inc. | 231,200 | 1,044,048 | ||||||
| Health Care (0.8%) | ||||||||
| Shionogi & Co. Ltd. | 23,500 | 1,275,815 | ||||||
See Notes to Portfolio of Investments.
Aberdeen Global Dynamic Dividend Fund
Portfolio of Investments (unaudited) (continued)
As of January 31, 2021
Aberdeen Global Dynamic Dividend Fund
| Real Estate (1.4%) | ||||||||
| GLP J-REIT | 1,300 | $ | 2,094,360 | |||||
| Total Japan | 4,414,223 | |||||||
| MEXICO (0.4%) | ||||||||
| Utilities (0.4%) | ||||||||
| Infraestructura Energetica Nova SAB de CV(a) | 179,576 | 656,842 | ||||||
| NETHERLANDS (2.6%) | ||||||||
| Consumer Staples (1.2%) | ||||||||
| Heineken NV | 18,000 | 1,877,264 | ||||||
| Information Technology (1.4%) | ||||||||
| ASML Holding NV | 3,800 | 2,028,644 | ||||||
| Total Netherlands | 3,905,908 | |||||||
| NORWAY (0.9%) | ||||||||
| Communication Services (0.9%) | ||||||||
| Telenor ASA | 86,200 | 1,421,989 | ||||||
| SINGAPORE (1.0%) | ||||||||
| Financials (1.0%) | ||||||||
| Oversea-Chinese Banking Corp. Ltd. | 194,582 | 1,508,060 | ||||||
| SOUTH KOREA (1.3%) | ||||||||
| Materials (1.3%) | ||||||||
| LG Chem Ltd. | 2,300 | 1,876,002 | ||||||
| SPAIN (0.9%) | ||||||||
| Industrials (0.9%) | ||||||||
| Ferrovial SA | 54,411 | 1,304,422 | ||||||
| SWEDEN (1.3%) | ||||||||
| Consumer Staples (0.8%) | ||||||||
| Essity AB, Class B | 37,300 | 1,191,393 | ||||||
| Industrials (0.5%) | ||||||||
| Atlas Copco AB, A Shares | 13,900 | 754,121 | ||||||
| Total Sweden | 1,945,514 | |||||||
| SWITZERLAND (4.4%) | ||||||||
| Consumer Staples (1.2%) | ||||||||
| Nestle SA | 15,900 | 1,782,336 | ||||||
| Financials (1.2%) | ||||||||
| Zurich Insurance Group AG | 4,500 | 1,799,309 | ||||||
| Health Care (2.0%) | ||||||||
| Novartis AG | 15,100 | 1,367,231 |
See Notes to Portfolio of Investments.
Aberdeen Global Dynamic Dividend Fund
Portfolio of Investments (unaudited) (continued)
As of January 31, 2021
Aberdeen Global Dynamic Dividend Fund
| Roche Holding AG | 4,900 | $ | 1,691,048 | |||||
| 3,058,279 | ||||||||
| Total Switzerland | 6,639,924 | |||||||
| TAIWAN (1.5%) | ||||||||
| Information Technology (1.5%) | ||||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. | 104,000 | 2,197,873 | ||||||
| UNITED KINGDOM (9.5%) | ||||||||
| Communication Services (1.7%) | ||||||||
| Cineworld Group PLC(a) | 536,100 | 561,939 | ||||||
| Vodafone Group PLC, ADR | 120,200 | 2,061,430 | ||||||
| 2,623,369 | ||||||||
| Consumer Staples (2.5%) | ||||||||
| Tesco PLC | 748,500 | 2,449,390 | ||||||
| Unilever PLC | 23,500 | 1,366,032 | ||||||
| 3,815,422 | ||||||||
| Energy (0.9%) | ||||||||
| Cairn Energy PLC | 549,398 | 1,355,327 | ||||||
| Health Care (2.4%) | ||||||||
| AstraZeneca PLC, ADR | 39,300 | 1,988,580 | ||||||
| Dechra Pharmaceuticals PLC | 32,300 | 1,592,232 | ||||||
| 3,580,812 | ||||||||
| Industrials (0.9%) | ||||||||
| Melrose Industries PLC(a) | 589,966 | 1,349,329 | ||||||
| Information Technology (1.1%) | ||||||||
| Avast PLC(c) | 249,600 | 1,609,351 | ||||||
| Total United Kingdom | 14,333,610 | |||||||
| UNITED STATES (46.5%) | ||||||||
| Communication Services (1.5%) | ||||||||
| Alphabet, Inc., Class C(a)(b) | 1,200 | 2,202,888 | ||||||
| Consumer Discretionary (7.0%) | ||||||||
| Aptiv PLC(b) | 11,600 | 1,549,760 | ||||||
| Genuine Parts Co. | 16,200 | 1,520,856 | ||||||
| Las Vegas Sands Corp. | 26,000 | 1,250,340 | ||||||
| Lowe's Cos., Inc.(b) | 13,900 | 2,319,215 | ||||||
| Target Corp.(b) | 12,400 | 2,246,508 | ||||||
| TJX Cos., Inc. (The)(b) | 25,000 | 1,601,000 | ||||||
| 10,487,679 | ||||||||
| Consumer Staples (4.1%) | ||||||||
| Coca-Cola Co. (The) | 31,300 | 1,507,095 | ||||||
| Kraft Heinz Co. (The) | 43,400 | 1,454,334 | ||||||
| Mondelez International, Inc., Class A(b) | 31,300 | 1,735,272 | ||||||
| PepsiCo, Inc. | 10,600 | 1,447,642 | ||||||
| 6,144,343 |
See Notes to Portfolio of Investments.
Aberdeen Global Dynamic Dividend Fund
Portfolio of Investments (unaudited) (continued)
As of January 31, 2021
Aberdeen Global Dynamic Dividend Fund
| Energy (1.0%) | ||||||||
| Williams Cos., Inc. (The) | 70,600 | $ | 1,498,838 | |||||
| Financials (5.9%) | ||||||||
| Bank of America Corp.(b) | 50,300 | 1,491,395 | ||||||
| Blackstone Group, Inc. (The), Class A | 18,200 | 1,222,858 | ||||||
| Charles Schwab Corp. (The) | 30,900 | 1,592,586 | ||||||
| Goldman Sachs Group, Inc. (The) | 6,500 | 1,762,605 | ||||||
| Huntington Bancshares, Inc. | 95,500 | 1,262,988 | ||||||
| JPMorgan Chase & Co. | 11,900 | 1,531,173 | ||||||
| 8,863,605 | ||||||||
| Health Care (6.2%) | ||||||||
| AbbVie, Inc. | 23,296 | 2,387,374 | ||||||
| Bristol-Myers Squibb Co.(b) | 27,500 | 1,689,325 | ||||||
| Eli Lilly & Co. | 8,900 | 1,850,933 | ||||||
| Medtronic PLC(b) | 15,600 | 1,736,748 | ||||||
| UnitedHealth Group, Inc.(b) | 5,000 | 1,667,900 | ||||||
| 9,332,280 | ||||||||
| Industrials (5.9%) | ||||||||
| Aerojet Rocketdyne Holdings, Inc.(a) | 36,700 | 1,909,868 | ||||||
| FedEx Corp.(b) | 7,800 | 1,835,652 | ||||||
| Lockheed Martin Corp. | 4,300 | 1,383,826 | ||||||
| Macquarie Infrastructure Corp. | 75,000 | 2,084,250 | ||||||
| Norfolk Southern Corp. | 7,000 | 1,656,340 | ||||||
| 8,869,936 | ||||||||
| Information Technology (9.8%) | ||||||||
| Apple, Inc.(b) | 35,900 | 4,737,364 | ||||||
| Broadcom, Inc.(b) | 5,400 | 2,432,700 | ||||||
| Cisco Systems, Inc. | 33,300 | 1,484,514 | ||||||
| Fidelity National Information Services, Inc. | 12,100 | 1,493,866 | ||||||
| Intel Corp.(b) | 27,000 | 1,498,770 | ||||||
| Microsoft Corp.(b) | 13,400 | 3,108,264 | ||||||
| 14,755,478 | ||||||||
| Real Estate (1.5%) | ||||||||
| Digital Realty Trust, Inc.(b) | 10,300 | 1,482,685 | ||||||
| GEO Group, Inc. (The), REIT | 90,500 | 809,070 | ||||||
| 2,291,755 | ||||||||
| Utilities (3.6%) | ||||||||
| Clearway Energy, Inc., Class A | 40,800 | 1,176,264 | ||||||
| CMS Energy Corp.(b) | 19,500 | 1,109,160 | ||||||
| FirstEnergy Corp. | 36,100 | 1,110,436 | ||||||
| NextEra Energy, Inc.(b) | 24,400 | 1,973,228 | ||||||
| 5,369,088 | ||||||||
| Total United States | 69,815,890 | |||||||
| Total Common Stocks | 147,833,188 | |||||||
See Notes to Portfolio of Investments.
Aberdeen Global Dynamic Dividend Fund
Portfolio of Investments (unaudited) (concluded)
As of January 31, 2021
Aberdeen Global Dynamic Dividend Fund
| PREFERRED STOCKS (2.0%) | ||||||||
| SOUTH KOREA (2.0%) | ||||||||
| Information Technology (2.0%) | ||||||||
| Samsung Electronics Co. Ltd. | 45,600 | $ | 2,973,914 | |||||
| Total Preferred Stocks | 2,973,914 | |||||||
| Total Investments—100.4% (cost $120,163,847) | 150,807,102 | |||||||
| Liabilities in Excess of Other Assets—(0.4)% | (613,696 | ) | ||||||
| Net Assets—100.0% | $ | 150,193,406 | ||||||
| (a) | Non-income producing security. |
| (b) | All or a portion of the security has been designated as collateral for the line of credit. |
| (c) | Denotes a security issued under Regulation S or Rule 144A. |
| All or a portion of the securities are on loan. The total value of all securities on loan is $-. 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. See Note 2(j) of the accompanying Notes to Financial Statements. | |
| ADR | American Depositary Receipt |
| PLC | Public Limited Company |
| REIT | Real Estate Investment Trust |
At January 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 | ||||||||||||||||||
| 04/14/2021 | State Street Bank and Trust | USD | 3,280,359 | EUR | 2,700,000 | $ | 3,281,787 | $ | (1,428 | ) | ||||||||
| 02/01/2021 | State Street Bank and Trust | USD | 3,174,854 | EUR | 2,700,000 | 3,276,584 | (101,730 | ) | ||||||||||
| $ | 6,558,371 | $ | (103,158 | ) | ||||||||||||||
See Notes to Portfolio of Investments.
Aberdeen Global Dynamic Dividend Fund
Notes to Portfolio of Investments (unaudited)
January 31, 2021
Summary of Significant Accounting Policies
a. Security Valuation:
The Fund values its securities at current market value or fair value, consistent with regulatory requirements. "Fair value" is defined in the Fund's Valuation and Liquidity Procedures as the price that could be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants without a compulsion to transact at the measurement date.
Equity securities that are traded on an exchange are valued at the last quoted sale price on the principal exchange on which the security is traded at the “Valuation Time” subject to application, when appropriate, of the valuation factors described in the paragraph below. Under normal circumstances, the Valuation Time is as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time). In the absence of a sale price, the security is valued at the mean of the bid/ask price quoted at the close on the principal exchange on which the security is traded. Securities traded on NASDAQ are valued at the NASDAQ official closing price. Closed-end funds and exchange-traded funds ("ETFs") are valued at the market price of the security at the Valuation Time. A security using any of these pricing methodologies is determined to be a Level 1 investment.
Foreign equity securities that are traded on foreign exchanges that close prior to the Valuation Time are valued by applying valuation factors to the last sale price or the mean price as noted above. Valuation factors are provided by an independent pricing service provider. These valuation factors are used when pricing the Fund's portfolio holdings to estimate market movements between the time foreign markets close and the time the Fund values such foreign securities. These valuation factors are based on inputs such as depositary receipts, indices, futures, sector indices/ETFs, exchange rates, and local exchange opening and closing prices of each security. When prices with the application of valuation factors are utilized, the value assigned to the foreign securities may not be the same as quoted or published prices of the securities on their primary markets. A security that applies a valuation factor is determined to be a Level 2 investment because the exchange-traded price has been adjusted. Valuation factors are not utilized if the independent pricing service provider is unable to provide a valuation factor or if the valuation factor falls below a predetermined threshold; in such case, the security is determined to be a Level 1 investment.
Short-term investments are comprised of cash and cash equivalents invested in short-term investment funds which are redeemable daily. The Fund sweeps available cash into the State Street Institutional U.S. Government Money Market Fund, which has elected to qualify as a “government money market fund” pursuant to Rule 2a-7 under the Investment Company Act of 1940, and has an objective to maintain a $1.00 per share net asset value. Generally, these investment types are categorized as Level 1 investments.
In the event that a security’s market quotations are not readily available or are deemed unreliable (for reasons other than because the foreign exchange on which it trades closes before the Valuation Time), the security is valued at fair value as determined by the Fund's Pricing Committee, taking into account the relevant factors and surrounding circumstances using valuation policies and procedures approved by the Board. A security that has been fair valued by the Fund's Pricing Committee may be classified as Level 2 or Level 3 depending on the nature of the inputs.
Aberdeen Global Dynamic Dividend Fund