NPORT-EX 2 NPORT_197C_71216073_0122.htm

Statement of Investments

January 31, 2022 (unaudited)

Aberdeen Asia-Pacific Income Fund, Inc.

Principal Amount (000) or Shares						Description		Value (US$)
CORPORATE BONDS—80.5%
AUSTRALIA—5.7%
USD			6,000			Australia & New Zealand Banking Group Ltd., (fixed rate to 06/15/2026, variable rate thereafter), 6.75%, 06/15/2026 (a)(b)		$	6,690,000
USD			6,845			Macquarie Bank Ltd., 3.62%, 06/03/2030 (a)			6,921,003
AUD			17,000			New South Wales Treasury Corp., 2.00%, 03/20/2031			11,760,362
USD			4,000			QBE Insurance Group Ltd., (fixed rate to 05/12/2025, variable rate thereafter), 5.88%, 05/12/2025 (a)(b)			4,230,000
USD			9,100			Santos Finance Ltd., 4.13%, 06/14/2027 (a)(c)			9,444,495
AUD			410			Transurban Queensland Finance Pty Ltd., 3.25%, 05/07/2031 (c)			277,076
AUD			5,000			Treasury Corp. of Victoria, 2.25%, 11/20/2040			3,187,965
AUD			23,600			Wesfarmers Ltd., 2.55%, 03/23/2031 (a)(c)			16,000,235
SGD			250			Westpac Banking Corp., 4.11%, 04/15/2025			197,114
									58,708,250
BAHRAIN—0.3%
USD			2,500			Oil & Gas Holding Co. BSCC, 7.50%, 10/25/2027 (a)			2,675,325
									2,675,325
CHINA—19.8%
USD			200			Central China Real Estate Ltd., 7.25%, 03/03/2022 (a)(c)			119,000
USD			4,610			Central China Real Estate Ltd., 7.65%, 08/27/2022 (a)(c)			2,504,152
USD			800			Central China Real Estate Ltd., 7.90%, 03/03/2022 (a)(c)			424,000
CNY			30,000			Central Huijin Investment Ltd., 3.02%, 03/13/2025			4,756,254
CNY			10,000			Central Huijin Investment Ltd., 3.67%, 01/16/2024			1,604,435
CNY			50,000			China Construction Bank Corp., 3.45%, 08/10/2026 (c)			7,913,553
USD			3,800			China Construction Bank Corp., (fixed rate to 02/27/2024, variable rate thereafter), 4.25%, 02/27/2024 (a)(c)			3,965,448
USD			4,000			China Construction Bank Corp., (fixed rate to 06/24/2025, variable rate thereafter), 2.45%, 06/24/2025 (a)(c)			3,984,241
CNY			120,000			China Development Bank, 3.34%, 07/14/2025			19,335,252
			12,500			China Evergrande Group, 8.75%, 03/03/2022 (a)(c)			2,000,000
USD			3,500			China Oil & Gas Group Ltd., 5.50%, 03/02/2022 (a)(c)			3,513,300
CNY			40,000			China Petroleum & Chemical Corp., 2.70%, 04/01/2023			6,301,111
USD			10,522			Chinalco Capital Holdings Ltd., 4.25%, 04/21/2022 (a)			10,573,558
USD			7,000			CIFI Holdings Group Co. Ltd., 6.55%, 03/28/2022 (a)(c)			6,440,000
USD			3,405			CMHI Finance BVI Co. Ltd. (fixed rate to 10/09/2025 variable rate thereafter), 3.88%, 10/09/2025 (a)(b)			3,531,291
USD			3,600			CNAC HK Finbridge Co. Ltd., 3.88%, 06/19/2029 (a)			3,765,456
USD			3,320			CNAC HK Finbridge Co. Ltd., 5.13%, 03/14/2028 (a)			3,704,515
USD			2,522			Country Garden Holdings Co. Ltd., 3.30%, 10/12/2030 (a)(c)			1,929,330
USD			8,110			Country Garden Holdings Co. Ltd., 7.25%, 04/08/2023 (a)(c)			7,015,150
MYR			10,000			Country Garden Real Estate Sdn Bhd, 6.40%, 05/06/2022			2,406,475
USD			4,526			ENN Clean Energy International Investment Ltd., 3.38%, 05/12/2024 (a)(c)			4,475,552
USD			3,600			Gansu Provincial Highway Aviation Tourism Investment Group Co. Ltd., 3.25%, 11/03/2023 (a)			3,567,249
USD			3,000			Geely Automobile Holdings Ltd., 3.63%, 01/25/2023 (a)			3,032,071
USD			3,962			GLP China Holdings Ltd., 2.95%, 03/29/2026 (a)			3,843,708
USD			5,400			HBIS Group Hong Kong Co. Ltd., 3.75%, 12/18/2022 (a)			5,416,278
USD			3,470			Health & Happiness H&H International Holdings Ltd., 5.63%, 03/03/2022 (a)(c)			3,400,600
USD			2,400			Huarong Finance II Co. Ltd., 5.00%, 11/19/2025 (a)			2,448,000

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

January 31, 2022 (unaudited)

Aberdeen Asia-Pacific Income Fund, Inc.

Principal Amount (000) or Shares						Description		Value (US$)
CORPORATE BONDS (CONTINUED)
USD			6,700			Huarong Finance II Co. Ltd., 5.50%, 01/16/2025 (a)		$	6,933,830
CNY			50,000			Industrial & Commercial Bank of China Ltd. Series A, 4.15%, 11/16/2025 (c)			8,097,280
USD			700			Kaisa Group Holdings Ltd., 9.75%, 09/28/2022 (a)(c)			187,250
USD			4,603			Kaisa Group Holdings Ltd., 10.88%, 03/03/2022 (a)(c)			1,231,302
USD			3,941			Kaisa Group Holdings Ltd., 11.95%, 03/03/2022 (a)(c)(d)			1,015,793
USD			3,670			King Talent Management Ltd., (Fixed rate to 04/12/2022, variable rate thereafter), 5.60%, 12/04/2022 (a)(b)			3,399,374
USD			7,800			Logan Group Co. Ltd., 5.25%, 10/19/2023 (a)(c)			5,616,000
			7,800			Logan Group Co. Ltd., 6.50%, 03/03/2022 (a)(c)			6,084,000
USD			6,650			Longfor Group Holdings Ltd., 3.95%, 09/16/2029 (a)			6,452,931
USD			4,083			MCC Holding Hong Kong Corp. Ltd., (fixed rate to 04/20/2024, variable rate thereafter), 2.95%, 04/20/2024 (a)(b)			4,147,103
USD			2,040			Shandong Iron And Steel Xinheng International Co. Ltd., 4.80%, 07/28/2024 (a)			2,050,302
USD			3,754			Shandong Iron And Steel Xinheng International Co., Ltd., 6.50%, 11/05/2023 (a)			3,891,847
			4,000			Shimao Group Holdings Ltd., 4.75%, 02/15/2022 (a)(c)			2,535,200
USD			2,800			Shimao Group Holdings Ltd., 5.60%, 07/15/2023 (a)(c)			1,288,000
USD			3,500			Shui On Development Holding Ltd., 6.15%, 08/24/2022 (a)(c)			3,265,500
USD			2,807			SPIC Luxembourg Latin America Renewable Energy Investment Co. Sarl, 4.65%, 10/30/2023 (a)			2,921,806
USD			690			Sunac China Holdings Ltd., 5.95%, 01/26/2023 (a)(c)			403,650
USD			5,714			Sunac China Holdings Ltd., 6.80%, 10/20/2023 (a)(c)			3,399,830
USD			1,786			Sunac China Holdings Ltd., 7.00%, 07/09/2023 (a)(c)			1,049,275
USD			7,100			Times China Holdings Ltd., 6.20%, 09/22/2023 (a)(c)			3,195,000
USD			3,180			Xiaomi Best Time International Ltd., 2.88%, 04/14/2031 (a)(c)			3,013,927
USD			7,000			Yuzhou Group Holdings Co. Ltd., 8.30%, 11/27/2022 (a)(c)			1,505,000
USD			10,457			Zhenro Properties Group Ltd., 6.63%, 01/07/2024 (a)(c)			4,391,940
USD			1,000			Zhenro Properties Group Ltd., 7.10%, 09/10/2023 (a)(c)			435,000
USD			4,000			Zhenro Properties Group Ltd., 7.88%, 01/14/2023 (a)(c)			1,770,000
USD			4,156			Zhongsheng Group Holdings Ltd., 3.00%, 12/13/2025 (a)(c)			4,109,973
									204,361,092
GERMANY—0.7%
AUD			10,000			Landwirtschaftliche Rentenbank, 4.75%, 04/08/2024 (e)			7,597,174
HONG KONG—0.8%
USD			7,000			CAS Capital No 1 Ltd. (fixed rate to 07/12/2026, variable rate thereafter), 4.00%, 07/12/2026 (a)(b)			6,956,306
USD			980			Hutchison Whampoa International 03/33 Ltd., 7.45%, 11/24/2033 (a)			1,416,913
									8,373,219
INDIA—18.2%
USD			7,302			Adani Electricity Mumbai Ltd., 3.95%, 02/12/2030 (a)			7,097,813
USD			6,910			Adani Green Energy UP Ltd. / Prayatna Developers Pvt Ltd. / Parampujya Solar Energy Pvt Ltd., 6.25%, 12/10/2024 (a)			7,328,055
USD			3,050			Adani Transmission Ltd., 4.00%, 08/03/2026 (a)			3,155,988
USD			3,629			Adani Transmission Ltd., 4.25%, 05/21/2036 (a)(f)			3,636,708
INR			200,000			Axis Bank Ltd., 7.60%, 10/20/2023			2,771,440
INR			500,000			Axis Bank Ltd., 8.85%, 12/05/2024			7,177,540
USD			10,900			Axis Bank Ltd. (fixed rate to 09/8/2026, variable rate thereafter), 4.10%, 09/08/2026 (a)(b)			10,540,844

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

January 31, 2022 (unaudited)

Aberdeen Asia-Pacific Income Fund, Inc.

Principal Amount (000) or Shares						Description		Value (US$)
CORPORATE BONDS (continued)
USD			7,030			Azure Power Solar Energy Pvt Ltd., 5.65%, 09/24/2022 (a)(c)		$	7,276,050
USD			3,300			Bharti Airtel International Netherlands BV, 5.35%, 05/20/2024 (a)			3,511,761
USD			800			CA Magnum Holdings, 5.38%, 10/31/2023 (a)(c)			814,760
USD			1,200			GMR Hyderabad International Airport Ltd., 4.75%, 02/02/2026 (a)			1,164,120
USD			5,173			GMR Hyderabad International Airport Ltd., 5.38%, 04/10/2024 (a)			5,211,798
USD			3,638			Greenko Power II Ltd., 4.30%, 12/14/2024 (a)			3,559,783
INR			750,000			HDFC Bank Ltd., 7.95%, 09/21/2026			10,657,211
USD			7,304			HDFC Bank Ltd., (Fixed rate to 08/25/2026, variable rate thereafter), 3.70%, 08/25/2026 (a)(b)			7,089,993
INR			100,000			Housing Development Finance Corp. Ltd., 7.90%, 08/24/2026			1,410,611
INR			100,000			ICICI Bank Ltd., 7.60%, 10/07/2023			1,385,810
INR			250,000			ICICI Bank Ltd., 9.15%, 08/06/2024			3,627,592
USD			5,732			IIFL Finance Ltd., 5.88%, 04/20/2023 (a)			5,553,162
USD			7,072			India Green Power Holdings, 4.00%, 02/22/2024 (a)			6,833,674
USD			4,000			Indiabulls Housing Finance Ltd., 6.38%, 05/28/2022 (a)			3,968,000
INR			100,000			Indiabulls Housing Finance Ltd., 9.00%, 04/29/2026			1,166,822
INR			50,000			Indian Railway Finance Corp. Ltd., 8.45%, 12/04/2028			723,779
USD			3,420			JSW Infrastructure Ltd., 4.95%, 10/21/2028 (a)(c)			3,395,627
INR			150,000			National Highways Authority of India, 7.70%, 09/13/2029			2,089,063
INR			50,000			NTPC Ltd., 8.05%, 05/05/2026			715,504
INR			250,000			NTPC Ltd., 8.10%, 05/27/2026			3,586,442
USD			3,280			Periama Holdings LLC, 5.95%, 04/19/2026 (a)			3,380,302
USD			7,112			Power Finance Corp. Ltd., 6.15%, 12/06/2028 (a)			8,204,141
INR			250,000			Power Finance Corp. Ltd., 8.39%, 04/19/2025			3,572,957
INR			400,000			Power Finance Corp. Ltd., 8.65%, 12/28/2024			5,762,541
INR			150,000			Power Grid Corp. of India Ltd., 8.13%, 04/25/2027			2,167,273
INR			500,000			Power Grid Corp. of India Ltd., 8.13%, 04/25/2028			7,292,472
USD			3,689			REC Ltd., 4.75%, 05/19/2023 (a)			3,794,497
INR			150,000			REC Ltd., 8.10%, 06/25/2024			2,126,101
INR			150,000			REC Ltd., 9.34%, 08/25/2024			2,175,092
INR			70,000			REC Ltd., 9.35%, 06/15/2022			954,102
INR			800,000			Reliance Industries Ltd., 8.30%, 03/08/2022			10,764,517
USD			8,000			Shriram Transport Finance Co. Ltd., 4.40%, 03/13/2024 (a)			7,880,000
INR			300,000			State of Maharashtra India, 7.20%, 08/09/2027			4,108,019
USD			3,327			UPL Corp. Ltd., 4.63%, 06/16/2030 (a)			3,397,733
USD			7,000			Vedanta Resources Ltd., 6.38%, 07/30/2022 (a)			6,926,290
									187,955,987
INDONESIA—4.9%
IDR			20,000,000			Adira Dinamika Multi Finance Tbk PT, 7.80%, 10/04/2022			1,428,313
IDR			10,000,000			Astra Sedaya Finance PT, 8.80%, 02/13/2022			696,357
USD			2,198			Bank Mandiri Persero Tbk PT, 4.75%, 05/13/2025 (a)			2,347,370
IDR			10,000,000			Bank Rakyat Indonesia Persero Tbk PT, 8.25%, 08/24/2024			745,724
USD			7,300			Bank Tabungan Negara Persero Tbk PT, 4.20%, 01/23/2025 (a)			7,321,170
IDR			10,000,000			Federal International Finance PT, 8.80%, 03/12/2022			699,416
USD			5,326			FPC Treasury Ltd., 4.50%, 04/16/2023 (a)			5,483,117
USD			3,766			Hutama Karya Persero PT, 3.75%, 02/11/2030 (a)(c)(e)			3,889,364
USD			4,283			Indofood CBP Sukses Makmur Tbk PT, 3.40%, 12/09/2030 (a)(c)			4,096,853
IDR			20,000,000			Lembaga Pembiayaan Ekspor Indonesia, 8.45%, 07/09/2022			1,419,274
USD			5,492			LLPL Capital Pte Ltd., 6.88%, 02/04/2039 (a)(f)			6,025,204

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

January 31, 2022 (unaudited)

Aberdeen Asia-Pacific Income Fund, Inc.

Principal Amount (000) or Shares						Description		Value (US$)
CORPORATE BONDS (CONTINUED)
USD			4,565			Medco Oak Tree Pte Ltd., 7.38%, 05/14/2023 (a)(c)		$	4,610,650
USD			3,129			Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 6.15%, 05/21/2048 (a)			3,594,783
IDR			12,000,000			Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 8.25%, 07/05/2023			877,156
USD			7,181			Tower Bersama Infrastructure Tbk PT, 2.75%, 12/20/2025 (a)(c)			6,969,104
									50,203,855
JAPAN—0.5%
USD			4,850			Nissan Motor Co. Ltd., 4.81%, 06/17/2030 (a)(c)			5,250,866
KAZAKHSTAN—0.7%
KZT			3,265,000			Development Bank of Kazakhstan JSC, 10.95%, 05/06/2026 (a)			7,410,565
									7,410,565
KUWAIT—0.7%
USD			6,759			MEGlobal Canada ULC, 5.00%, 05/18/2025 (a)			7,249,027
MACAO—0.7%
USD			3,575			MGM China Holdings Ltd., 5.25%, 06/18/2022 (a)(c)			3,535,344
USD			3,500			MGM China Holdings Ltd., 5.88%, 05/15/2022 (a)(c)			3,486,875
									7,022,219
MALAYSIA—1.9%
MYR			5,000			CIMB Group Holdings Bhd, 4.95%, 03/29/2023 (c)			1,223,304
MYR			5,000			DRB-Hicom Bhd, 5.10%, 12/12/2029			1,177,879
MYR			5,000			Malayan Banking Bhd, (fixed rate to 09/25/2024, variable rate thereafter), 4.08%, 09/25/2024 (b)			1,213,499
MYR			5,000			Pengerang LNG Two Sdn Bhd, 2.86%, 10/20/2028			1,122,602
MYR			5,000			Pengerang LNG Two Sdn Bhd, 2.92%, 10/19/2029			1,108,601
MYR			10,000			Petroleum Sarawak Exploration & Production Sdn Bhd, 4.10%, 03/19/2031			2,367,535
USD			2,600			Petronas Capital Ltd., 3.50%, 01/21/2030 (a)(c)			2,742,272
MYR			5,000			Press Metal Aluminium Holdings Bhd, 4.00%, 08/15/2025			1,190,587
USD			7,000			TNB Global Ventures Capital Bhd, 3.24%, 10/19/2026 (a)			7,188,020
									19,334,299
MEXICO—0.6%
MXN			145,000			Petroleos Mexicanos, 7.19%, 09/12/2024 (a)			6,685,836
NORWAY—0.5%
AUD			7,000			Kommunalbanken AS, 4.50%, 04/17/2023 (a)			5,170,181
									5,170,181
OMAN—0.7%
USD			6,950			OQ SAOC, 5.13%, 05/06/2028 (a)			6,992,673
PAKISTAN—0.9%
USD			8,600			Pakistan Global Sukuk Programme Co.Ltd. (The), 7.95%, 01/31/2029 (a)			8,812,420
									8,812,420

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

January 31, 2022 (unaudited)

Aberdeen Asia-Pacific Income Fund, Inc.

Principal Amount (000) or Shares						Description		Value (US$)
CORPORATE BONDS (continued)
PHILIPPINES—4.9%
USD			6,800			AC Energy Finance International Ltd., 5.10%, 11/25/2025 (a)(b)		$	6,868,000
USD			4,097			Globe Telecom, Inc., (Fixed rate to 08/02/2026, variable rate thereafter), 4.20%, 08/02/2026 (a)(b)			4,102,326
USD			7,000			ICTSI Treasury BV, 5.88%, 09/17/2025 (a)			7,904,906
USD			11,000			Manila Water Co., Inc., 4.38%, 07/30/2025 (a)(c)			11,220,000
USD			13,086			Megaworld Corp., 4.25%, 04/17/2023 (a)			13,494,938
USD			7,000			Royal Capital BV, (fixed rate to 05/05/2024, variable rate thereafter), 4.88%, 05/05/2024 (a)(b)			7,212,100
									50,802,270
SAUDI ARABIA—1.1%
USD			7,000			Dar Al-Arkan Sukuk Co. Ltd., 6.88%, 03/21/2023 (a)			7,201,600
USD			2,976			Saudi Electricity Global Sukuk Co. 3, 5.50%, 04/08/2044 (a)			3,660,480
									10,862,080
SINGAPORE—2.7%
USD			4,300			DBS Group Holdings Ltd., (fixed rate to 02/27/2025, variable rate thereafter), 3.30%, 02/27/2025 (a)(b)			4,316,942
USD			2,400			DBS Group Holdings Ltd., (fixed rate to 12/11/2023, variable rate thereafter), 4.52%, 12/11/2023 (a)(c)			2,510,597
USD			4,538			GLP Pte Ltd. (fixed rate to 05/17/2026, variable rate thereafter), 4.50%, 05/17/2026 (a)(b)			4,367,825
USD			3,800			Parkway Pantai Ltd., (fixed rate to 07/27/2022, variable rate thereafter), 4.25%, 07/27/2022 (a)(b)			3,780,734
USD			3,682			Singapore Airlines Ltd., 3.00%, 06/20/2026 (a)(c)			3,683,038
USD			1,687			Singapore Airlines Ltd., 3.38%, 01/19/2029 (a)			1,680,303
USD			7,000			Vena Energy Capital Pte Ltd., 3.13%, 02/26/2025 (a)			7,051,549
									27,390,988
SOUTH KOREA—2.8%
USD			11,400			Busan Bank Co. Ltd., 3.63%, 07/25/2026 (a)			11,659,116
USD			3,300			Hanwha Total Petrochemical Co. Ltd., 3.88%, 01/23/2024 (a)			3,411,556
USD			2,000			Kookmin Bank, 2.50%, 11/04/2030 (a)			1,909,841
USD			5,900			Shinhan Bank Co. Ltd., 4.50%, 03/26/2028 (a)			6,504,817
USD			2,071			SK Hynix, Inc., 2.38%, 01/19/2031 (a)			1,926,411
USD			3,650			Tongyang Life Insurance Co. Ltd. (fixed rate to 09/22/2025 variable rate thereafter), 5.25%, 09/22/2025 (a)(b)			3,837,062
									29,248,803
TAIWAN—0.2%
USD			2,191			TSMC Arizona Corp., 2.50%, 07/25/2031 (c)			2,161,553
									2,161,553
THAILAND—2.8%
USD			1,200			Bangkok Bank PCL, 9.03%, 03/15/2029 (a)			1,598,350
USD			6,900			Bangkok Bank PCL, (fixed rate to 09/25/2029, variable rate thereafter), 3.73%, 09/25/2029 (a)(c)			6,885,717

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

January 31, 2022 (unaudited)

Aberdeen Asia-Pacific Income Fund, Inc.

Principal Amount (000) or Shares						Description		Value (US$)
CORPORATE BONDS (continued)
USD			7,000			Krung Thai Bank PCL, (fixed rate to 03/25/2026, variable rate thereafter), 4.40%, 03/25/2026 (a)(b)		$	6,920,200
USD			5,800			Minor International PCL, (fixed rate to 06/29/2023, variable rate thereafter), 3.10%, 06/29/2023 (a)(b)			5,833,358
USD			3,342			PTTEP Treasury Center Co. Ltd., 3.90%, 12/06/2059 (a)			3,338,957
USD			3,800			TMB Bank PCL, (fixed rate to 12/02/2024, variable rate thereafter), 4.90%, 12/02/2024 (a)(b)			3,777,962
									28,354,544
UNITED ARAB EMIRATES—3.3%
MYR			10,000			Abu Dhabi National Energy Co. PJSC, 4.65%, 03/03/2022			2,391,806
USD			2,700			DP World PLC, 6.85%, 07/02/2037 (a)			3,374,784
USD			7,100			Esic Sukuk Ltd., 3.94%, 07/30/2024 (a)			7,206,500
USD			7,237			Galaxy Pipeline Assets Bidco Ltd., 2.63%, 03/31/2036 (a)(f)			6,811,979
USD			6,500			MAF Global Securities Ltd., (fixed rate to 03/20/2026, variable rate thereafter), 6.38%, 03/20/2026 (a)(b)			6,963,450
USD			6,400			Tabreed Sukuk Spc Ltd., 5.50%, 10/31/2025 (a)			7,104,000
									33,852,519
UNITED KINGDOM—4.0%
USD			6,760			HSBC Holdings PLC, (fixed rate to 03/23/2023, variable rate thereafter), 6.25%, 03/23/2023 (b)			6,962,800
USD			15,500			Hutchison Whampoa Finance CI Ltd., 7.50%, 08/01/2027 (a)			19,334,345
USD			6,999			Standard Chartered PLC, 3.95%, 01/11/2023 (a)			7,133,420
USD			5,000			Standard Chartered PLC, 4.05%, 04/12/2026 (a)			5,280,780
USD			2,759			Standard Chartered PLC, (fixed rate to 04/02/2023, variable rate thereafter), 7.75%, 04/02/2023 (a)(b)			2,903,627
									41,614,972
UNITED STATES—0.7%
USD			5,600			Hyundai Capital America, 6.38%, 01/08/2030 (a)(c)			6,825,538
									6,825,538
VIETNAM—0.4%
USD			4,310			Mong Duong Finance Holdings BV, 5.13%, 05/07/2023 (a)			3,970,372
									3,970,372
						Total Corporate Bonds — 80.5% (cost $871,466,329)			828,886,627
GOVERNMENT BONDS—63.4%
ANGOLA—1.2%
USD			11,000			Angolan Government International Bond, 9.50%, 11/12/2025 (a)			12,013,100
AUSTRALIA—9.5%
AUD			2,300			Australia Government Bond, 2.75%, 11/21/2029 (a)			1,737,906
AUD			54,000			Australia Government Bond, 3.25%, 06/21/2039 (a)			43,458,640
AUD			13,500			New South Wales Treasury Corp., 3.00%, 02/20/2030 (a)			10,123,687
AUD			7,500			New South Wales Treasury Corp., 4.00%, 05/20/2026 (a)			5,801,571
AUD			15,000			New South Wales Treasury Corp., 6.00%, 03/01/2022			10,652,847
AUD			300			Queensland Treasury Corp., 3.50%, 08/21/2030 (a)			233,485

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

January 31, 2022 (unaudited)
Aberdeen Asia-Pacific Income Fund, Inc.

Principal Amount (000) or Shares						Description		Value (US$)
GOVERNMENT BONDS (continued)
AUD			22,000			Queensland Treasury Corp., 4.25%, 07/21/2023 (a)		$	16,344,290
AUD			13,000			Treasury Corp. of Victoria, 6.00%, 10/17/2022			9,569,060
									97,921,486
BRAZIL—2.3%
BRL			103,000			Brazil Notas do Tesouro Nacional, 10.00%, 01/01/2029			18,175,797
BRL			31,000			Brazil Notas do Tesouro Nacional Series F, 10.00%, 01/01/2027			5,589,987
									23,765,784
CHINA—8.4%
CNY			30,000			China Government Bond, 2.20%, 02/13/2022 (g)			4,713,667
CNY			40,000			China Government Bond, 2.36%, 07/02/2023 (g)			6,303,000
CNY			130,000			China Government Bond, 2.68%, 05/21/2030 (g)			20,212,102
CNY			30,000			China Government Bond, 3.02%, 10/22/2025 (g)			4,815,627
CNY			60,000			China Government Bond, 3.02%, 05/27/2031 (g)			9,633,877
CNY			250,000			China Government Bond, 3.27%, 11/19/2030 (g)			40,767,593
									86,445,866
INDIA—5.8%
INR			500,000			India Government Bond, 6.19%, 09/16/2034			6,174,344
INR			735,000			India Government Bond, 6.79%, 05/15/2027			10,060,850
INR			550,000			India Government Bond, 7.17%, 01/08/2028			7,598,546
INR			1,340,000			India Government Bond, 7.26%, 01/14/2029			18,522,698
INR			880,000			India Government Bond, 7.72%, 05/25/2025			12,451,901
INR			300,000			India Government Bond, 8.15%, 11/24/2026			4,347,186
INR			9,590			India Government Bond, 9.20%, 09/30/2030			148,022
									59,303,547
INDONESIA—14.4%
USD			5,314			Indonesia Government International Bond, 5.35%, 02/11/2049			6,456,683
USD			6,000			Indonesia Government International Bond, 7.75%, 01/17/2038 (a)			8,671,238
USD			9,880			Indonesia Government International Bond, 8.50%, 10/12/2035 (a)			14,945,467
IDR			271,570,000			Indonesia Treasury Bond, 6.13%, 05/15/2028			18,967,603
IDR			21,000,000			Indonesia Treasury Bond, 6.50%, 02/15/2031			1,460,889
IDR			44,000,000			Indonesia Treasury Bond, 7.50%, 04/15/2040			3,215,408
IDR			629,200,000			Indonesia Treasury Bond, 8.13%, 05/15/2024			47,292,810
IDR			197,000,000			Indonesia Treasury Bond, 8.38%, 04/15/2039			15,389,341
IDR			300,000,000			Indonesia Treasury Bond, 8.75%, 05/15/2031			23,946,600
IDR			30,000,000			Indonesia Treasury Bond, 9.00%, 03/15/2029			2,397,789
IDR			16,000,000			Indonesia Treasury Bond, 9.50%, 07/15/2031			1,325,744
USD			3,770			Perusahaan Penerbit SBSN Indonesia III, 4.15%, 03/29/2027 (a)			4,066,209
									148,135,781
IRAQ—0.8%
USD			3,750			Iraq International Bond, 5.80%, 03/17/2022 (a)			3,590,625
USD			4,500			Iraq International Bond, 6.75%, 03/09/2023 (a)			4,533,750
									8,124,375
MALAYSIA—7.0%
MYR			46,000			Malaysia Government Bond, 2.63%, 04/15/2031			10,073,864

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

January 31, 2022 (unaudited)
Aberdeen Asia-Pacific Income Fund, Inc.

Principal Amount (000) or Shares						Description		Value (US$)
GOVERNMENT BONDS (continued)
MYR			158,300			Malaysia Government Bond, 3.48%, 06/14/2024		$	38,375,884
MYR			17,500			Malaysia Government Bond, 3.73%, 06/15/2028			4,226,592
MYR			9,793			Malaysia Government Bond, 3.76%, 05/22/2040			2,188,293
MYR			20,500			Malaysia Government Bond, 4.18%, 07/15/2024			5,047,179
MYR			4,034			Malaysia Government Bond, 4.25%, 05/31/2035			981,856
MYR			30,500			Malaysia Government Bond, 4.92%, 07/06/2048			7,806,656
MYR			18,000			Malaysia Government Investment Issue, 3.45%, 07/15/2036			3,961,146
									72,661,470
MALDIVES—0.2%
USD			2,200			Maldives Sukuk Issuance Ltd., 9.88%, 04/08/2026 (a)			2,176,430
									2,176,430
MEXICO—2.3%
MXN			469,000			Mexican Bonos, 8.50%, 05/31/2029			23,866,070
									23,866,070
NIGERIA—1.4%
USD			14,100			Nigeria Government International Bond, 8.75%, 01/21/2031 (a)			14,487,750
OMAN—0.7%
USD			6,120			Oman Government International Bond, 7.38%, 10/28/2032 (a)			6,946,200
									6,946,200
PAKISTAN—4.0%
USD			18,129			Pakistan Government International Bond, 6.88%, 12/05/2027 (a)			17,630,453
USD			7,495			Pakistan Government International Bond, 8.25%, 04/15/2024 (a)			7,826,279
USD			5,209			Pakistan Government International Bond, 8.25%, 09/30/2025 (a)			5,477,680
PKR			1,940,000			Pakistan Investment Bond, 7.00%, 08/20/2023			10,400,011
									41,334,423
SOUTH KOREA—0.7%
KRW			9,900,000			Korea Treasury Bond, 1.88%, 03/10/2051			7,085,211
SUPRANATIONAL—1.7%
AUD			14,000			Asian Development Bank, 5.00%, 03/09/2022			9,948,590
AUD			10,000			International Bank for Reconstruction & Development, 4.25%, 06/24/2025			7,681,473
									17,630,063
UKRAINE—1.6%
UAH			210,000			Ukraine Government Bond, 15.84%, 02/26/2025			7,244,011
USD			10,600			Ukraine Government International Bond, 7.38%, 09/25/2032 (a)(f)			8,945,976
									16,189,987
URUGUAY—1.4%
UYU			674,024			Uruguay Government International Bond, 8.25%, 05/21/2031			14,662,331
									14,662,331
						Total Government Bonds — 63.4% (cost $693,751,961)			652,749,874

See accompanying Notes to Portfolio of Investments. 

Statement of Investments (continued)

January 31, 2022 (unaudited)
Aberdeen Asia-Pacific Income Fund, Inc.

Principal Amount (000) or Shares						Description		Value (US$)
SHORT-TERM INVESTMENT—2.6%
UNITED STATES—2.6%
USD			26,365,652			State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(h)		$	26,365,652
									26,365,652
						Total Short-Term Investment — 2.6% (cost $26,365,652)			26,365,652
						Total Investments — 146.5% (cost $1,591,583,942)			1,508,002,153
						Long Term Debt Securities			(460,000,000	)
						Mandatory Redeemable Preferred Stock at Liquidation Value			(50,000,000	)
						Other Assets in Excess of Liabilities — 3.1%			31,687,104
						Net Assets—100.0%		$	1,029,689,257

AUD—Australian Dollar

BRL—Brazilian Real

CNH—Chinese Yuan Renminbi Offshore

CNY—Chinese Yuan Renminbi

IDR—Indonesian Rupiah

INR—Indian Rupee

KRW—South Korean Won

KZT—Kazakhstan tenge

MXN—Mexican Peso

MYR—Malaysian Ringgit

PHP—Philippine Peso

PKR—Pakistan rupee

SGD—Singapore Dollar

THB—Thai Baht

UAH—Ukraine hryvna

USD—U.S. Dollar

UYU—Uruguayan Peso

(a) Denotes a restricted security.

(b) Perpetual bond. This is a bond that has no maturity date, is redeemable and pays a steady stream of interest indefinitely. The maturity date presented for these instruments represents the next call/put date.

(c) The maturity date presented for these instruments represents the next call/put date.

(d) Security is in default.

(e) This security is government guaranteed.

(f) Sinkable security.

(g)	China A securities. These securities are issued in local currency, traded in the local markets and are held through a qualified foreign institutional investor license.
(h)	Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of January 31, 2022.

See accompanying Notes to Portfolio of Investments.

Statement of Investments (continued)

January 31, 2022 (unaudited)
Aberdeen Asia-Pacific Income Fund, Inc.

At January 31, 2022, the Company held the following futures contracts:

Futures Contracts		Number of Contracts Long/(Short)				Expiration Date		Notional Amount				Market Value				Unrealized Appreciation/ (Depreciation)
LONG CONTRACT POSITIONS
United States Treasury Note 6%—5 year			114			03/31/2022		$	13,771,902			$	13,589,156			$	(182,746	)
United States Treasury Note 6%—Ultra Bond			268			03/22/2022			51,961,041				50,635,250				(1,325,791	)
																$	(1,508,537	)
SHORT CONTRACT POSITIONS
United States Treasury Note 6%—10 year			(1,114	)		03/22/2022		$	(143,976,876	)		$	(142,557,188	)		$	1,419,688
																$	1,419,688
																$	(88,849	)

At January 31, 2022, the Fund's open forward foreign currency exchange contracts were as follows:

Purchase Contracts Settlement Date*		Counterparty		Amount Purchased				Amount Sold				Fair Value				Unrealized Appreciation/ (Depreciation)
Chinese Yuan Renminbi Offshore/United States Dollar
03/14/2022		Citibank N.A.		CNH	489,901,384			USD	76,393,995			$	76,711,359			$	317,364
03/14/2022		State Street Bank and Trust		CNH	11,216,090			USD	1,752,751				1,756,275				3,524
Indonesian Rupiah/United States Dollar
02/25/2022		Royal Bank of Canada		IDR	88,694,848,188			USD	6,129,568				6,188,563				58,995
02/25/2022		UBS AG		IDR	34,164,210,860			USD	2,352,585				2,383,762				31,177
Philippine Peso/United States Dollar
02/23/2022		UBS AG		PHP	1,102,492,653			USD	21,803,733				21,574,857				(228,876	)
Singapore Dollar/United States Dollar
03/17/2022		Royal Bank of Canada		SGD	107,818,022			USD	78,772,021				79,796,769				1,024,748
South Korean Won/United States Dollar
02/28/2022		Royal Bank of Canada		KRW	95,551,880,244			USD	80,257,902				79,233,700				(1,024,202	)
Thai Baht/United States Dollar
03/11/2022		Citibank N.A.		THB	113,158,246			USD	3,411,731				3,398,289				(13,442	)
03/11/2022		UBS AG		THB	2,909,415,388			USD	87,043,094				87,373,529				330,435
												$	358,417,103			$	499,723

See accompanying Notes to Portfolio of Investments.

Statement of Investments (concluded)

January 31, 2022 (unaudited)
Aberdeen Asia-Pacific Income Fund, Inc.

Sale Contracts Settlement Date*		Counterparty		Amount Purchased				Amount Sold				Fair Value				Unrealized Appreciation/ (Depreciation)
United States Dollar/Australian Dollar
04/22/2022		UBS AG		USD	8,463,838			AUD	11,700,000			$	8,276,098			$	187,740
United States Dollar/Chinese Yuan Renminbi Offshore
03/14/2022		Citibank N.A.		USD	46,560,836			CNH	298,855,659				46,796,406				(235,570	)
03/14/2022		Standard Chartered Bank		USD	4,917,583			CNH	31,345,262				4,908,208				9,375
United States Dollar/Indonesian Rupiah
02/25/2022		Citibank N.A.		USD	3,454,303			IDR	49,678,400,159			$	3,466,243			$	(11,940	)
02/25/2022		Royal Bank of Canada		USD	36,095,162			IDR	522,297,000,000				36,442,565				(347,403	)
02/25/2022		UBS AG		USD	2,446,480			IDR	35,363,243,161				2,467,422				(20,942	)
United States Dollar/Malaysian Ringgit
02/15/2022		BNP Paribas S.A.		USD	42,086,890			MYR	175,842,815				41,993,054				93,836
United States Dollar/Philippine Peso
02/23/2022		UBS AG		USD	11,964,198			PHP	604,962,500				11,838,609				125,589
United States Dollar/South Korean Won
02/28/2022		Royal Bank of Canada		USD	1,334,591			KRW	1,569,866,153				1,301,767				32,824
												$	157,490,372			$	(166,491	)
												$	515,907,475			$	333,232

* Certain contracts with different trade dates and like characteristics have been shown net.

At January 31, 2022, the Fund held the following centrally cleared interest rate swaps:

Currency		Notional Amount				Expiration Date		Counterparty			Receive (Pay) Floating Rate		Floating Rate Index		Fixed Rate				Premiums Paid (Received)				Unrealized Appreciation/ (Depreciation)				Value
USD			10,000,000			12/03/2026		Citigroup			Receive		3-month LIBOR			1.33	%		$	—			$	134,033			$	134,033
USD			6,000,000			02/12/2027		Citigroup			Receive		3-month LIBOR			0.75	%			—				253,210				253,210
USD			20,000,000			06/10/2027		Citigroup			Receive		3-month LIBOR			0.70	%			—				1,014,652				1,014,652
USD			9,000,000			09/21/2028		Citigroup			Receive		3-month LIBOR			1.17	%			—				298,874				298,874
USD			15,000,000			05/06/2030		Citigroup			Receive		3-month LIBOR			0.62	%			(7,332	)			1,372,800				1,365,468
USD			5,000,000			05/11/2030		Citigroup			Receive		3-month LIBOR			0.67	%			—				437,672				437,672
USD			25,000,000			06/02/2031		Citigroup			Receive		3-month LIBOR			0.72	%			—				2,409,944				2,409,944
USD			20,000,000			07/16/2031		Citigroup			Receive		3-month LIBOR			1.36	%			—				827,886				827,886
																			$	(7,332	)		$	6,749,071			$	6,741,739

See accompanying Notes to Portfolio of Investments.

Notes to Portfolio of Investments (unaudited)

January 31, 2022 

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.

Long-term debt and other fixed-income securities are valued at the last quoted or evaluated bid price on the valuation date provided by an independent pricing service provider approved by the Board. If there are no current day bids, the security is valued at the previously applied bid. Pricing services generally price debt securities assuming orderly transactions of an institutional "round lot" size and the strategies employed by the Fund’s investment manager generally trade in round lot sizes. In certain circumstances, some trades may occur in smaller "odd lot" sizes which may be effected at lower or higher prices than institutional round lot trades. Short-term debt securities (such as commercial paper and U.S. treasury bills) having a remaining maturity of 60 days or less are valued at amortized cost, if it represents the best approximation of fair value. Debt and other fixed-income securities are generally determined to be Level 2 investments.

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; a "government money market fund" pursuant to Rule 2a-7 under the Investment Company Act of 1940, as amended, which has an objective, which is not guaranteed, to maintain a $1.00 per share net asset value. Registered investment companies are valued at their net asset value as reported by such company. Generally, these investment types are categorized as Level 1 investments.

Derivatives are valued at fair value. Exchange traded derivatives are generally Level 1 investments and over-the-counter derivatives are generally Level 2 investments. Forward foreign currency contracts are generally valued based on the bid price of the forward rates and the current spot rate. Forward exchange rate quotations are available for scheduled settlement dates, such as 1-, 3-, 6-, 9- and 12-month periods. An interpolated valuation is derived based on the actual settlement dates of the forward contracts held. Futures contracts are valued at the settlement price or at the last bid price if no settlement price is available. Interest rate swaps agreements are generally valued by an approved pricing agent based on the terms of the swap agreement (including future cash flows).

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 they trade closed before the "Valuation Time" (as defined below)), 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. 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). 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 Asia-Pacific Income Fund, Inc.