NPORT-EX 2 NPORT_ALPB_2268472721.htm

Statement of Investments

July 31, 2021 (unaudited)

Aberdeen Total Dynamic Dividend Fund

		Shares				Value
LONG-TERM INVESTMENTS (101.3%)
COMMON STOCKS (99.5%)
AUSTRALIA (1.2%)
Materials (1.2%)
Rio Tinto PLC, ADR			161,482			$	13,937,511
BRAZIL (2.3%)
Industrials (1.0%)
CCR SA			4,929,338				12,303,824
Materials (1.3%)
Vale SA, ADR			703,000				14,777,060
Total Brazil							27,080,884
CANADA (2.4%)
Energy (1.3%)
Enbridge, Inc.(a)			392,100				15,429,135
Materials (1.1%)
Barrick Gold Corp.(a)			573,800				12,491,626
Total Canada							27,920,761
CHINA (4.0%)
Communication Services (1.0%)
Tencent Holdings Ltd.			202,200				12,194,307
Consumer Discretionary (1.0%)
Shenzhou International Group Holdings Ltd.			532,500				11,817,919
Financials (1.1%)
Ping An Insurance Group Co. of China Ltd., H Shares			1,400,100				12,252,051
Real Estate (0.9%)
China Vanke Co. Ltd., H Shares			3,829,100				9,975,014
Total China							46,239,291
DENMARK (1.5%)
Financials (1.5%)
Tryg A/S			713,300				17,629,040
FINLAND (1.6%)
Financials (0.8%)
Nordea Bank Abp			774,400				9,068,540
Information Technology (0.8%)
Nokia OYJ(b)			1,531,806				9,411,936
Total Finland							18,480,476
FRANCE (6.6%)
Consumer Discretionary (1.2%)
LVMH Moet Hennessy Louis Vuitton SE			17,400				13,931,606

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

July 31, 2021 (unaudited)

Aberdeen Total Dynamic Dividend Fund

Consumer Staples (1.1%)
Danone SA			178,200			$	13,107,232
Energy (1.0%)
TOTAL SE, ADR(a)			265,600				11,588,128
Health Care (1.2%)
Sanofi			137,397				14,161,949
Industrials (2.1%)
Alstom SA(b)			273,500				11,343,779
Schneider Electric SE			80,800				13,533,056
							24,876,835
Total France							77,665,750
GERMANY (5.0%)
Financials (1.0%)
Deutsche Boerse AG			72,900				12,164,381
Health Care (0.7%)
Bayer AG			131,700				7,846,553
Information Technology (1.0%)
Infineon Technologies AG			300,300				11,475,703
Materials (1.1%)
Linde PLC(b)			41,200				12,633,733
Utilities (1.2%)
RWE AG			388,500				13,813,376
Total Germany							57,933,746
HONG KONG (0.9%)
Financials (0.9%)
Hong Kong Exchanges & Clearing Ltd.			169,200				10,813,518
INDONESIA (1.0%)
Communication Services (1.0%)
Telkom Indonesia Persero Tbk PT			53,652,600				12,026,710
ITALY (1.1%)
Utilities (1.1%)
Enel SpA			1,371,700				12,640,939
JAPAN (1.8%)
Financials (0.8%)
Mitsubishi UFJ Financial Group, Inc.			1,722,400				9,098,883
Real Estate (1.0%)
GLP J-REIT			6,600				11,821,704
Total Japan							20,920,587
NETHERLANDS (2.5%)
Consumer Staples (1.3%)
Heineken NV			131,900				15,359,982

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

July 31, 2021 (unaudited)

Aberdeen Total Dynamic Dividend Fund

Information Technology (1.2%)
ASML Holding NV			18,800			$	14,370,415
Total Netherlands							29,730,397
NORWAY (1.0%)
Communication Services (1.0%)
Telenor ASA			651,526				11,311,887
SINGAPORE (1.1%)
Financials (1.1%)
Oversea-Chinese Banking Corp. Ltd.			1,426,971				12,910,140
SOUTH KOREA (1.0%)
Materials (1.0%)
LG Chem Ltd.			16,500				12,119,310
SPAIN (2.6%)
Communication Services (1.4%)
Cellnex Telecom SA(c)			245,000				15,978,067
Industrials (1.2%)
Ferrovial SA			481,193				14,279,478
Total Spain							30,257,545
SWEDEN (1.3%)
Consumer Staples (0.7%)
Essity AB, Class B			272,200				8,905,764
Industrials (0.6%)
Atlas Copco AB, A Shares			101,100				6,846,998
Total Sweden							15,752,762
SWITZERLAND (3.6%)
Consumer Staples (1.2%)
Nestle SA			114,500				14,499,095
Financials (1.1%)
Zurich Insurance Group AG			32,600				13,143,496
Health Care (1.3%)
Roche Holding AG			38,000				14,679,859
Total Switzerland							42,322,450
TAIWAN (1.3%)
Information Technology (1.3%)
Taiwan Semiconductor Manufacturing Co. Ltd.			752,000				15,716,421
UNITED KINGDOM (4.5%)
Communication Services (1.2%)
Vodafone Group PLC, ADR			877,600				14,331,208
Consumer Staples (0.9%)
Unilever PLC			170,600				9,833,360

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

July 31, 2021 (unaudited)

Aberdeen Total Dynamic Dividend Fund

Health Care (1.4%)
AstraZeneca PLC, ADR			283,100			$	16,204,644
Industrials (1.0%)
Melrose Industries PLC			5,414,900				12,033,375
Utilities (0.0%)
Pennon Group PLC			—				6
Total United Kingdom							52,402,593
UNITED STATES (51.2%)
Communication Services (2.8%)
Alphabet, Inc., Class C(a)(b)			8,600				23,258,012
Cineworld Group PLC(b)			3,865,000				3,409,285
Shenandoah Telecommunications Co.			110,200				5,817,458
							32,484,755
Consumer Discretionary (7.8%)
Aptiv PLC(a)(b)			83,300				13,898,605
Genuine Parts Co.			116,400				14,773,488
Las Vegas Sands Corp.(b)			294,500				12,472,075
Lowe's Cos., Inc.(a)			90,000				17,342,100
Target Corp.(a)			79,500				20,753,475
TJX Cos., Inc. (The)(a)			182,400				12,550,944
							91,790,687
Consumer Staples (4.3%)
Coca-Cola Co. (The)			223,900				12,769,017
Kraft Heinz Co. (The)(a)			278,300				10,706,201
Mondelez International, Inc., Class A(a)			227,500				14,391,650
PepsiCo, Inc.			82,300				12,916,985
							50,783,853
Energy (1.1%)
Delek US Holdings, Inc.			1				17
Williams Cos., Inc. (The)			512,300				12,833,115
							12,833,132
Financials (6.8%)
Bank of America Corp.(a)			364,100				13,966,876
Blackstone Group, Inc. (The), Class A			110,000				12,679,700
Goldman Sachs Group, Inc. (The)			47,000				17,619,360
Huntington Bancshares, Inc.(a)			705,500				9,933,440
Intercontinental Exchange, Inc.			104,000				12,462,320
JPMorgan Chase & Co.			85,000				12,901,300
							79,562,996
Health Care (6.8%)
AbbVie, Inc.			169,204				19,678,425
Bristol-Myers Squibb Co.(a)			198,000				13,438,260
Eli Lilly & Co.			64,500				15,705,750
Medtronic PLC(a)			118,900				15,612,759
UnitedHealth Group, Inc.(a)			35,800				14,757,476
							79,192,670
Industrials (3.4%)
FedEx Corp.(a)			54,600				15,285,270
Lockheed Martin Corp.			30,900				11,484,603
Norfolk Southern Corp.(a)			51,700				13,329,811
							40,099,684

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

July 31, 2021 (unaudited)

Aberdeen Total Dynamic Dividend Fund

Information Technology (11.9%)
Apple, Inc.(a)			260,300			$	37,967,358
Avast PLC(c)			2,113,900				17,035,456
Broadcom, Inc.(a)			39,100				18,979,140
Cisco Systems, Inc.(a)			245,300				13,582,261
Fidelity National Information Services, Inc.			86,900				12,952,445
Intel Corp.(a)			197,400				10,604,328
Microsoft Corp.(a)			97,600				27,807,216
							138,928,204
Real Estate (2.5%)
American Tower Corp., REIT			40,800				11,538,240
Digital Realty Trust, Inc.(a)			74,700				11,515,752
Gaming and Leisure Properties, Inc., REIT			124,900				5,912,766
							28,966,758
Utilities (3.8%)
Clearway Energy, Inc., Class C(a)			300,000				8,604,000
CMS Energy Corp.(a)			201,500				12,450,685
FirstEnergy Corp.(a)			264,700				10,143,304
NextEra Energy, Inc.(a)			176,000				13,710,400
							44,908,389
Total United States							599,551,128
Total Common Stocks							1,165,363,846
PREFERRED STOCKS (1.8%)
SOUTH KOREA (1.8%)
Information Technology (1.8%)
Samsung Electronics Co. Ltd.			328,600				20,628,148
Total Preferred Stocks							20,628,148
Total Long-Term Investments—101.3% (cost $848,334,193)							1,185,991,994
Total Investments—101.3% (cost $848,334,193)							1,185,991,994
Liabilities in Excess of Other Assets—(1.3)%							(14,981,619	)
Net Assets—100.0%						$	1,171,010,375

(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.
ADR	American Depositary Receipt
PLC	Public Limited Company
REIT	Real Estate Investment Trust

See accompanying Notes to Portfolio of Investments.

Statement of Investments (concluded)

July 31, 2021 (unaudited)

Aberdeen Total Dynamic Dividend Fund

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

28,962,248

EUR

24,500,000

$

29,103,951

$

(141,703

)

See accompanying Notes to Portfolio of Investments.

Notes to Portfolio of Investments (unaudited)

July 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