NPORT-EX 2 NPORT_10550078277436447.htm

Portfolio of Investments (unaudited)

As of January 31, 2021

Aberdeen Total Dynamic Dividend Fund

		Shares				Value
LONG-TERM INVESTMENTS (100.7%)
COMMON STOCKS (98.7%)
AUSTRALIA (1.1%)
Materials (1.1%)
Rio Tinto PLC, ADR			161,482			$	12,340,454
BRAZIL (2.1%)
Industrials (1.0%)
CCR SA			4,929,338				10,919,249
Materials (1.1%)
Vale SA, ADR			703,000				11,353,450
Total Brazil							22,272,699
CANADA (2.5%)
Energy (1.5%)
Enbridge, Inc.(a)			473,100				15,896,160
Materials (1.0%)
Barrick Gold Corp.(a)			515,700				11,536,209
Total Canada							27,432,369
CHINA (3.4%)
Communication Services (1.2%)
Tencent Holdings Ltd.			138,600				12,349,714
Consumer Discretionary (1.1%)
Shenzhou International Group Holdings Ltd.			619,700				12,085,081
Financials (1.1%)
Ping An Insurance Group Co. of China Ltd., H Shares			1,018,000				11,989,779
Total China							36,424,574
DENMARK (0.8%)
Financials (0.8%)
Tryg A/S			285,000				8,866,407
FINLAND (0.7%)
Information Technology (0.7%)
Nokia OYJ(b)			1,531,806				7,361,229
FRANCE (4.7%)
Consumer Discretionary (1.0%)
LVMH Moet Hennessy Louis Vuitton SE			17,400				10,519,954
Energy (0.9%)
TOTAL SE, ADR(a)			238,400				10,031,872

See Notes to Portfolio of Investments.

Aberdeen Total Dynamic Dividend Fund

Portfolio of Investments (unaudited) (continued)

As of January 31, 2021

Aberdeen Total Dynamic Dividend Fund

Financials (0.7%)
AXA SA			342,700			$	7,592,294
Industrials (2.1%)
Alstom SA(b)			188,800				10,236,654
Schneider Electric SE			80,800				11,825,940
							22,062,594
Total France							50,206,714
GERMANY (5.4%)
Financials (1.1%)
Deutsche Boerse AG			72,900				11,704,313
Health Care (0.7%)
Bayer AG			131,700				7,970,857
Information Technology (1.1%)
Infineon Technologies AG			300,300				12,031,087
Materials (0.9%)
Linde PLC(b)			41,200				10,060,155
Utilities (1.6%)
RWE AG			388,500				16,689,291
Total Germany							58,455,703
HONG KONG (1.2%)
Consumer Staples (0.0%)
Convenience Retail Asia Ltd.			4,528,000				420,309
Financials (1.2%)
Hong Kong Exchanges & Clearing Ltd.			198,600				12,696,926
Total Hong Kong							13,117,235
INDONESIA (1.1%)
Communication Services (1.1%)
Telkom Indonesia Persero Tbk PT			53,652,600				11,858,305
ITALY (1.3%)
Utilities (1.3%)
Enel SpA			1,371,700				13,604,503
JAPAN (2.9%)
Financials (0.7%)
Mitsubishi UFJ Financial Group, Inc.			1,722,400				7,777,975
Health Care (0.9%)
Shionogi & Co. Ltd.			170,300				9,245,587
Real Estate (1.3%)
GLP J-REIT			9,000				14,499,419
Total Japan							31,522,981

See Notes to Portfolio of Investments.

Aberdeen Total Dynamic Dividend Fund

Portfolio of Investments (unaudited) (continued)

As of January 31, 2021

Aberdeen Total Dynamic Dividend Fund

NETHERLANDS (2.7%)
Consumer Staples (1.3%)
Heineken NV			131,900			$	13,756,174
Information Technology (1.4%)
ASML Holding NV			27,900				14,894,520
Total Netherlands							28,650,694
NORWAY (1.0%)
Communication Services (1.0%)
Telenor ASA			623,100				10,278,903
SINGAPORE (1.0%)
Financials (1.0%)
Oversea-Chinese Banking Corp. Ltd.			1,426,971				11,059,388
SOUTH KOREA (1.3%)
Materials (1.3%)
LG Chem Ltd.			17,000				13,866,099
SPAIN (2.0%)
Communication Services (1.1%)
Cellnex Telecom SA(c)			211,600				12,396,328
Industrials (0.9%)
Ferrovial SA			395,017				9,469,937
Total Spain							21,866,265
SWEDEN (1.3%)
Consumer Staples (0.8%)
Essity AB, Class B			272,200				8,694,291
Industrials (0.5%)
Atlas Copco AB, A Shares			101,100				5,485,011
Total Sweden							14,179,302
SWITZERLAND (4.8%)
Consumer Staples (1.2%)
Nestle SA			114,500				12,835,058
Financials (1.2%)
Zurich Insurance Group AG			32,900				13,154,951
Health Care (2.4%)
Novartis AG			135,700				12,286,970
Roche Holding AG			38,000				13,114,248
							25,401,218
Total Switzerland							51,391,227

See Notes to Portfolio of Investments.

Aberdeen Total Dynamic Dividend Fund

Portfolio of Investments (unaudited) (continued)

As of January 31, 2021

Aberdeen Total Dynamic Dividend Fund

TAIWAN (1.5%)
Information Technology (1.5%)
Taiwan Semiconductor Manufacturing Co. Ltd.			752,000			$	15,892,311
UNITED KINGDOM (7.5%)
Communication Services (1.8%)
Cineworld Group PLC(b)			3,865,000				4,051,284
Vodafone Group PLC, ADR			877,600				15,050,840
							19,102,124
Consumer Staples (2.6%)
Tesco PLC			5,362,900				17,549,544
Unilever PLC			170,600				9,916,811
							27,466,355
Health Care (1.3%)
AstraZeneca PLC, ADR			283,100				14,324,860
Industrials (0.9%)
Melrose Industries PLC(b)			4,247,886				9,715,468
Information Technology (0.9%)
Avast PLC(c)			1,565,500				10,093,908
Total United Kingdom							80,702,715
UNITED STATES (48.4%)
Communication Services (1.5%)
Alphabet, Inc., Class C(a)(b)			8,600				15,787,364
Consumer Discretionary (7.1%)
Aptiv PLC(a)			83,300				11,128,880
Genuine Parts Co.			116,400				10,927,632
Las Vegas Sands Corp.			187,400				9,012,066
Lowe's Cos., Inc.(a)			100,900				16,835,165
Target Corp.(a)			91,300				16,540,821
TJX Cos., Inc. (The)(a)			182,400				11,680,896
							76,125,460
Consumer Staples (4.1%)
Coca-Cola Co. (The)			223,900				10,780,785
Kraft Heinz Co. (The)(a)			314,800				10,548,948
Mondelez International, Inc., Class A(a)			227,500				12,612,600
PepsiCo, Inc.			76,600				10,461,262
							44,403,595
Energy (1.0%)
Williams Cos., Inc. (The)			512,300				10,876,129
Financials (6.0%)
Bank of America Corp.(a)			364,100				10,795,565
Blackstone Group, Inc. (The), Class A			131,400				8,828,766
Charles Schwab Corp. (The)			226,900				11,694,426
Goldman Sachs Group, Inc. (The)			47,000				12,744,990

See Notes to Portfolio of Investments.

Aberdeen Total Dynamic Dividend Fund

Portfolio of Investments (unaudited) (continued)

As of January 31, 2021

Aberdeen Total Dynamic Dividend Fund

Huntington Bancshares, Inc.(a)			705,500			$	9,330,237
JPMorgan Chase & Co.			85,000				10,936,950
							64,330,934
Health Care (6.3%)
AbbVie, Inc.			169,204				17,340,026
Bristol-Myers Squibb Co.(a)			198,000				12,163,140
Eli Lilly & Co.			64,500				13,414,065
Medtronic PLC(a)			118,900				13,237,137
UnitedHealth Group, Inc.(a)			35,800				11,942,164
							68,096,532
Industrials (6.1%)
Aerojet Rocketdyne Holdings, Inc.(b)			263,000				13,686,520
FedEx Corp.(a)			63,800				15,014,692
Lockheed Martin Corp.			30,900				9,944,238
Macquarie Infrastructure Corp.			535,700				14,887,103
Norfolk Southern Corp.(a)			51,700				12,233,254
							65,765,807
Information Technology (9.9%)
Apple, Inc.(a)			260,300				34,349,188
Broadcom, Inc.(a)			39,100				17,614,550
Cisco Systems, Inc.(a)			245,300				10,935,474
Fidelity National Information Services, Inc.			86,900				10,728,674
Intel Corp.(a)			197,400				10,957,674
Microsoft Corp.(a)			97,600				22,639,296
							107,224,856
Real Estate (2.7%)
American Tower Corp., REIT(a)			51,200				11,640,832
Digital Realty Trust, Inc.(a)			74,700				10,753,065
GEO Group, Inc. (The), REIT(a)			708,000				6,329,520
							28,723,417
Utilities (3.7%)
Clearway Energy, Inc., Class C(a)			300,000				9,294,000
CMS Energy Corp.(a)			146,500				8,332,920
FirstEnergy Corp.(a)			264,700				8,142,172
NextEra Energy, Inc.(a)			176,000				14,233,120
							40,002,212
Total United States							521,336,306
Total Common Stocks							1,062,686,383
PREFERRED STOCKS (2.0%)
SOUTH KOREA (2.0%)
Information Technology (2.0%)
Samsung Electronics Co. Ltd.			328,600				21,430,440
Total Preferred Stocks							21,430,440
Total Long-Term Investments—100.7% (cost $849,400,417)							1,084,116,823

See Notes to Portfolio of Investments.

Aberdeen Total Dynamic Dividend Fund

Portfolio of Investments (unaudited) (concluded)

As of January 31, 2021

Aberdeen Total Dynamic Dividend Fund

Total Investments—100.7% (cost $849,400,417)							1,084,116,823
Liabilities in Excess of Other Assets—(0.7)%							(7,742,519	)
Net Assets—100.0%						$	1,076,374,304

(a)	All or a portion of the security has been designated as collateral for the line of credit.
(b)	Non-income producing security.
(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
		02/01/2021		State Street Bank and Trust				USD	28,808,859		EUR	24,500,000		$	29,731,963		$	(923,104	)
		04/14/2021		State Street Bank and Trust				USD	29,766,224		EUR	24,500,000			29,779,183			(12,959	)
														$	59,511,146		$	(936,063	)

See Notes to Portfolio of Investments.

Aberdeen Total 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 Total Dynamic Dividend Fund