# EDGAR Filing Document

**Accession Number:** 0001413594
**File Stem:** 0001410368-26-067189
**Filing Date:** 2026-6
**Character Count:** 30984
**Document Hash:** 5bf0e85fb960d4f92b8d28dbf74c6dff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-067189.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0001410368-26-067189

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** abrdn Funds
- **CENTRAL INDEX KEY:** 0001413594

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22132
- **FILM NUMBER:** 261126350

**BUSINESS ADDRESS:**
- **STREET 1:** 1900 MARKET STREET
- **STREET 2:** SUITE 200
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103
- **BUSINESS PHONE:** 215-405-5700

**MAIL ADDRESS:**
- **STREET 1:** 1900 MARKET STREET
- **STREET 2:** SUITE 200
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Aberdeen Funds
- **DATE OF NAME CHANGE:** 20070926

## Series and Classes Contracts Data

### abrdn Ultra Short Municipal Income Active ETF (Series ID: S000094325)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000262823 | abrdn Ultra Short Municipal Income Active ETF |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** abrdn Funds

- **b. Investment Company Act file number:** 811-22132

- **c. CIK number of Registrant:** 0001413594

- **d. LEI of Registrant:** 549300U001OCRSJJXY43

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1900 Market Street

  - **City:** PHILADELPHIA

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19103

  - **Telephone number:** 215-405-5700

**Item A.2. Information about the Series.**

- **a. Name of Series:** abrdn Ultra Short Municipal Income Active ETF

- **b. EDGAR series identifier (if any):** S000094325

- **c. LEI of Series:** 213800G1AY3D4FPHD177

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $54318545.91

**Total Liabilities:** $433761.28

**Net Assets:** $53884784.63

**Delayed Delivery Securities:** $340206.90

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -355.61000000 | **1-Year:** -1175.72000000 | **5-Year:** -202.31000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -143.44000000 | **1-Year:** -363.15000000 | **5-Year:** -10.06000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000262823 | 0.30%                | 0.02%                | 0.27%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $265.69                  | $13236.37                                  |
| Month 2  | $1058.49                 | $-70189.34                                 |
| Month 3  | $-2273.51                | $-13966.40                                 |

### Schedule of Portfolio Investments

| Name                                                         | Title                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE                | Pennsylvania Higher Educational Facilities Authority                            | CUSIP: 70917SNX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.56%             | 2045-09-01      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | Black Belt Energy Gas District                                                  | CUSIP: 09182TGP6<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    190000 | PA      | $197473.84    | 0.37%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HOUSTON TX ARPT SYS REVENUE                                  | City of Houston TX Airport System Revenue                                       | CUSIP: 442349DJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015748.30   | 1.89%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHANDLER AZ INDL DEV AUTH INDL DEV REVENUE                   | Chandler Industrial Development Authority                                       | CUSIP: 158862CB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2024729.80   | 3.76%             | 2052-09-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE              | Kentucky Public Energy Authority                                                | CUSIP: 74440DFS8<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |     65000 | PA      | $65961.69     | 0.12%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE             | California Municipal Finance Authority                                          | CUSIP: 13048RAF4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002417.30   | 1.86%             | 2044-12-01      | Floating      | 3.45%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH                                 | Ohio Air Quality Development Authority                                          | CUSIP: 677525WV5<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1048716.86   | 1.95%             | 2039-11-01      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds MuniCash                           | BlackRock Liquidity Funds MuniCash                                              | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | EC               | RF                | US        |    231360 | NS      | $231383.12    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE             | California Municipal Finance Authority                                          | CUSIP: 13048RAT4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499663.75    | 0.93%             | 2056-03-01      | Floating      | 2.80%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION & SPLY CORP V GAS SPLY REVENUE | Texas Municipal Gas Acquisition & Supply Corp V                                 | CUSIP: 88256RAM8<br>LEI: 254900XZ4J30QIJO9G03 | Long             | DBT              | MUN               | US        |    330000 | PA      | $339552.15    | 0.63%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROOME CNTY NY LOCAL DEV CORP REVENUE                        | Broome County Local Development Corp                                            | CUSIP: 114731BA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $709468.07    | 1.32%             | 2026-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                              | CUSIP: 65000B5U8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.74%             | 2044-05-01      | Floating      | 3.87%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                                | Metropolitan Transportation Authority                                           | CUSIP: 59261ACF2<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    695000 | PA      | $695615.98    | 1.29%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY MET GOVT HLTH SYS REVENUE     | Louisville/Jefferson County Metropolitan Government                             | CUSIP: 54659LDC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 3.71%             | 2053-10-01      | Floating      | 3.45%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | New York City Housing Development Corp                                          | CUSIP: 64972E3D9<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000335.80   | 1.86%             | 2062-11-01      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| POUGHKEEPSIE CITY NY                                         | City of Poughkeepsie NY                                                         | CUSIP: 7386297S7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001198.80   | 3.71%             | 2027-04-23      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | Main Street Natural Gas Inc                                                     | CUSIP: 56035DEA6<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250362.48    | 0.46%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP                                    | Maryland Economic Development Corp                                              | CUSIP: 574205GT1<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |    345000 | PA      | $345412.31    | 0.64%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REV                  | Connecticut State Health & Educational Facilities Authority                     | CUSIP: 20774YV53<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1136522.60   | 2.11%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PEFA INC IA GAS PROJ REVENUE                                 | PEFA Inc                                                                        | CUSIP: 70556CAB0<br>LEI: 549300RSE249DJNRHY07 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1257208.25   | 2.33%             | 2049-09-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX HLTH FACS DEV CORP REVENUE                    | Harris County Health Facilities Development Corp                                | CUSIP: 41315RAY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $640222.57    | 1.19%             | 2027-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LANSING MI SCH DIST                                          | Lansing School District                                                         | CUSIP: 516444RQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2200000.00   | 4.08%             | 2040-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VENICE FL                                                    | City of Venice FL                                                               | CUSIP: 922687AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $225130.32    | 0.42%             | 2030-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HARRIS CNTY TX CULTURAL EDU FACS FIN CORP MED FACS REVENUE   | Harris County Cultural Education Facilities Finance Corp                        | CUSIP: 414008CX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1475000 | PA      | $1475000.00   | 2.74%             | 2046-11-15      | Floating      | 3.54%                 | No            |                  2 | On Loan: No      |
| M-S-R CA ENERGY AUTH GAS REVENUE                             | M-S-R Energy Authority                                                          | CUSIP: 55374SAD2<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |    325000 | PA      | $341801.40    | 0.63%             | 2029-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | Main Street Natural Gas Inc                                                     | CUSIP: 56035DBG6<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018345.10   | 1.89%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUFFALO NY                                                   | City of Buffalo NY                                                              | CUSIP: 119677SB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1103750 | PA      | $1108954.95   | 2.06%             | 2026-09-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | Main Street Natural Gas Inc                                                     | CUSIP: 56035DCR1<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300804.51    | 0.56%             | 2050-03-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| ELMIRA CITY NY                                               | City of Elmira City NY                                                          | CUSIP: 289587M20<br>LEI: 5493006ZFXLMU5H8ZE65 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004048.00   | 1.86%             | 2026-12-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARTOW CNTY GA DEV AUTH SOLID WASTE DISP FAC REVENUE         | Bartow County Development Authority                                             | CUSIP: 06964KAB2<br>LEI: 5493006KLI0V8YELKW50 | Long             | DBT              | MUN               | US        |    900000 | PA      | $900000.00    | 1.67%             | 2062-11-01      | Floating      | 3.53%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE            | Black Belt Energy Gas District                                                  | CUSIP: 09182THU4<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    625000 | PA      | $641210.25    | 1.19%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE PUTTERS/DRIVERS TRUST VARIOUS STATES         | JPMorgan Chase Putters/Drivers Trust                                            | CUSIP: 46640KYU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2200000.00   | 4.08%             | 2027-03-20      | Floating      | 3.72%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTHORITY A COOPERATIVE                     | Southeast Energy Authority A Cooperative District                               | CUSIP: 84136HCQ4<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |     90000 | PA      | $92341.65     | 0.17%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH LA REVENUE                     | Parish of St John the Baptist LA                                                | CUSIP: 79020FBA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1298702.08   | 2.41%             | 2037-06-01      | Floating      | 2.38%                 | No            |                  2 | On Loan: No      |
| MOBILE AL INDL DEV BRD SOL WST DISP REVENUE                  | Industrial Development Board of the City of Mobile Alabama                      | CUSIP: 607168AZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.93%             | 2034-06-01      | Floating      | 3.28%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ST ENERGY ACQUISITION CORP GAS REVENUE             | Tennessee Energy Acquisition Corp                                               | CUSIP: 880443BT2<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2216017.54   | 4.11%             | 2026-09-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| GUTHRIE CNTY HOSP IA HOSP REVENUE                            | Guthrie County Hospital                                                         | CUSIP: 40341HAA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $160096.88    | 0.30%             | 2029-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 708692BZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501111.35    | 0.93%             | 2046-10-01      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE             | California Municipal Finance Authority                                          | CUSIP: 13048RAK3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999625.20    | 1.86%             | 2051-07-01      | Floating      | 3.25%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY REGL ARPT AUTH                | Louisville Regional Airport Authority                                           | CUSIP: 546598AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.56%             | 2029-01-01      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CORP SOL WST DISP REVENUE        | Mississippi Business Finance Corp                                               | CUSIP: 60527MAZ2<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.56%             | 2028-05-01      | Floating      | 3.45%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST ECON DEV FIN AUTH                                | Kentucky Economic Development Finance Authority                                 | CUSIP: 49126KJU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001013.40   | 1.86%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH POLL CONTROL REVENUE                  | Development Authority of Burke County/The                                       | CUSIP: 121342NQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1600000.00   | 2.97%             | 2052-11-01      | Floating      | 3.53%                 | No            |                  2 | On Loan: No      |
| CUMBERLAND CNTY NC INDL FACS & POLL CONTROL FING AUTH SOL WS | Cumberland County Industrial Facilities & Pollution Control Financing Authority | CUSIP: 230589AB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2030000 | PA      | $2026778.39   | 3.76%             | 2027-12-01      | Floating      | 3.13%                 | No            |                  2 | On Loan: No      |
| BERKELEY CNTY SC INDL DEV REVENUE                            | County of Berkeley SC                                                           | CUSIP: 084185DB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.56%             | 2028-09-01      | Floating      | 3.47%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUNI GAS AGY GAS PROJ REVENUE                      | Minnesota Municipal Gas Agency                                                  | CUSIP: 60406XAA9<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |    145000 | PA      | $147212.06    | 0.27%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP REVENUE                                         | State of Ohio                                                                   | CUSIP: 67756CFH6<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1400000.00   | 2.60%             | 2051-01-15      | Floating      | 3.35%                 | No            |                  2 | On Loan: No      |
| PORT OF PORT ARTHUR TX NAV DIST                              | Port of Port Arthur Navigation District                                         | CUSIP: 735220AW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500000.00   | 4.64%             | 2040-11-01      | Floating      | 3.33%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION & SPLY CORP VI GAS SPLY REV    | Texas Municipal Gas Acquisition & Supply Corp VI                                | CUSIP: 88256FAB8<br>LEI: 254900OCOQCKZZ4U6C83 | Long             | DBT              | MUN               | US        |    250000 | PA      | $256492.65    | 0.48%             | 2028-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 708692BJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500664.90    | 0.93%             | 2037-08-01      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| MISSION TX ECON DEV CORP SOL WST DISP REVENUE                | Mission Economic Development Corp                                               | CUSIP: 605155BU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $706003.27    | 1.31%             | 2048-06-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CORP GULF OPPORTUNITY ZONE REVEN | Mississippi Business Finance Corp                                               | CUSIP: 60528BAK8<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    632000 | PA      | $632000.00    | 1.17%             | 2037-05-01      | Floating      | 3.38%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CORP                             | Mississippi Business Finance Corp                                               | CUSIP: 605279MJ4<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.56%             | 2027-12-01      | Floating      | 3.48%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV  | Pennsylvania Economic Development Financing Authority                           | CUSIP: 708692BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500676.90    | 0.93%             | 2038-08-01      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| CHANDLER AZ INDL DEV AUTH INDL DEV REVENUE                   | Chandler Industrial Development Authority                                       | CUSIP: 158862CA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $303657.21    | 0.56%             | 2042-09-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELEC PWR AUTH PWRREVENUE                         | Puerto Rico Electric Power Authority                                            | CUSIP: 74526QPK2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100048.76    | 0.19%             | 2026-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FLORIDA INSURANCE ASSISTANCE INTERLOCAL AGY                  | Florida Insurance Assistance Interlocal Agency Inc                              | CUSIP: 34074EAF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 3.71%             | 2032-09-01      | Floating      | 3.83%                 | No            |                  2 | On Loan: No      |
| MINNESOTA MUNI GAS AGY GAS PROJ REVENUE                      | Minnesota Municipal Gas Agency                                                  | CUSIP: 60406XAB7<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |    625000 | PA      | $641430.25    | 1.19%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI BUSINESS FIN CORPMS SOL WST DISP FAC & WSTWTR F  | Mississippi Business Finance Corp                                               | CUSIP: 60528EAA4<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1800000.00   | 3.34%             | 2052-11-01      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI ST BUSINESS FIN CORP                             | Mississippi Business Finance Corp                                               | CUSIP: 605279GX0<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1640000.00   | 3.04%             | 2032-11-01      | Floating      | 4.22%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HLTH SYS REVENUE                         | Indiana Finance Authority                                                       | CUSIP: 45470YBN0<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.93%             | 2037-11-01      | Floating      | 3.45%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-14

**Name of Applicant:** abrdn Funds

**Signature:** Michael Marsico

**Name of Signer:** Michael Marsico

**Title:** Treasurer