# EDGAR Filing Document

**Accession Number:** 0000846676
**File Stem:** 0001410368-26-020674
**Filing Date:** 2026-2
**Character Count:** 29364
**Document Hash:** 9eb82dce8abc8697dec85600ce8e0fef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-020674.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001410368-26-020674

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** abrdn Emerging Markets ex-China Fund, Inc.
- **CENTRAL INDEX KEY:** 0000846676

**ORGANIZATION NAME:**
- **EIN:** 222990009
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05770
- **FILM NUMBER:** 26698208

**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:** ABRDN EMERGING MARKETS EQUITY INCOME FUND, INC.
- **DATE OF NAME CHANGE:** 20220630

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ABERDEEN EMERGING MARKETS EQUITY INCOME FUND, INC.
- **DATE OF NAME CHANGE:** 20180501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ABERDEEN CHILE FUND, INC.
- **DATE OF NAME CHANGE:** 20100407

## 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 Emerging Markets ex-China Fund, Inc.

- **b. Investment Company Act file number:** 811-05770

- **c. CIK number of Registrant:** 0000846676

- **d. LEI of Registrant:** 549300MSYUW07RYUZD27

- **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 Emerging Markets ex-China Fund, Inc.

- **c. LEI of Series:** 549300KR7BCWAQBKVZ78

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $348819990.84

**Total Liabilities:** $38962028.60

**Net Assets:** $309857962.24

**Cash Not Reported:** $76105.52

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 6.64%                | -2.60%               | 6.54%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1994162.90              | $25749026.75                               |
| Month 2  | $2040896.24              | $-10805064.73                              |
| Month 3  | $3668215.29              | $8377883.29                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Rio Tinto PLC                                       | Rio Tinto PLC                                              | CUSIP: 000000000<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     42932 | NS      | $3458216.30   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Capstone Copper Corp                                | Capstone Copper Corp                                       | CUSIP: 14071L108<br>LEI: 549300III6KGKKC42W63 | Long             | EC               | CORP              | CA        |    199177 | NS      | $1999678.74   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV                  | Grupo Financiero Banorte SAB de CV                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    305384 | NS      | $2829391.45   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Itausa SA                                           | Itausa SA                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BR        |   2246377 | NS      | $4784731.56   | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Mexico SAB de CV                              | Grupo Mexico SAB de CV                                     | CUSIP: 000000000<br>LEI: 529900JWLZAYET2ZGW20 | Long             | EC               | CORP              | MX        |   1090038 | NS      | $10302622.11  | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Centro Norte SAB de CV      | Grupo Aeroportuario del Centro Norte SAB de CV             | CUSIP: 400501102<br>LEI: 529900HUSBARAFSXJ605 | Long             | EC               | CORP              | MX        |     41023 | NS      | $4462071.71   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Sberbank of Russia PJSC                             | Sberbank of Russia PJSC                                    | CUSIP: 000000000<br>LEI: 549300WE6TAF5EEWQS81 | Long             | EC               | CORP              | RU        |    730234 | NS      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Kaspi.KZ JSC                                        | Kaspi.KZ JSC                                               | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |     35949 | NS      | $2808695.37   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                                    | MercadoLibre Inc                                           | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      1440 | NS      | $2900534.40   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Abu Dhabi Islamic Bank PJSC                         | Abu Dhabi Islamic Bank PJSC                                | CUSIP: 000000000<br>LEI: 5493006DOLY8O98XHD74 | Long             | EC               | CORP              | AE        |    988269 | NS      | $5581405.61   | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Accton Technology Corp                              | Accton Technology Corp                                     | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |    137000 | NS      | $5169965.28   | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Mahindra & Mahindra Ltd                             | Mahindra & Mahindra Ltd                                    | CUSIP: 000000000<br>LEI: 3358003B573EV4KB4Z02 | Long             | EC               | CORP              | IN        |    136543 | NS      | $5649433.99   | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Chroma ATE Inc                                      | Chroma ATE Inc                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    310000 | NS      | $7667370.33   | 2.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc                               | Delta Electronics Inc                                      | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |    253000 | NS      | $7717495.33   | 2.49%             |  |  |  | No            |                  2 | On Loan: No      |
| NAC Kazatomprom JSC                                 | NAC Kazatomprom JSC                                        | CUSIP: 63253R201<br>LEI: 5493008JG5TXJP2JSY44 | Long             | EC               | CORP              | KZ        |    108418 | NS      | $6049724.40   | 1.95%             |  |  |  | Yes           |                  1 | On Loan: No      |
| MediaTek Inc                                        | MediaTek Inc                                               | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |     83000 | NS      | $3768630.84   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co Ltd                      | Shinhan Financial Group Co Ltd                             | CUSIP: 000000000<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               | CORP              | KR        |    114980 | NS      | $6122654.35   | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd                                   | Bharti Airtel Ltd                                          | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |    248652 | NS      | $5840111.49   | 1.88%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Korea Shipbuilding & Offshore Engineering Co Ltd | HD Korea Shipbuilding & Offshore Engineering Co Ltd        | CUSIP: 000000000<br>LEI: 988400DPTJ9KH5R6W540 | Long             | EC               | CORP              | KR        |     18562 | NS      | $5237669.21   | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| SK hynix Inc                                        | SK hynix Inc                                               | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |     31554 | NS      | $14290106.65  | 4.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Poya International Co Ltd                           | Poya International Co Ltd                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     75750 | NS      | $1059700.51   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Makalot Industrial Co Ltd                           | Makalot Industrial Co Ltd                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    278000 | NS      | $2551719.17   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Negara Indonesia Persero Tbk PT                | Bank Negara Indonesia Persero Tbk PT                       | CUSIP: 000000000<br>LEI: 549300HZ8J3MLVXQ8F85 | Long             | EC               | CORP              | ID        |  23884500 | NS      | $6240094.78   | 2.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung E&A Co Ltd                                  | Samsung E&A Co Ltd                                         | CUSIP: 000000000<br>LEI: 988400HDAY5KIVHGZ188 | Long             | EC               | CORP              | KR        |    175320 | NS      | $2920609.26   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                          | Samsung Electronics Co Ltd                                 | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |    370160 | NS      | $22976114.86  | 7.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd           | Taiwan Semiconductor Manufacturing Co Ltd                  | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |   1175000 | NS      | $57759775.35  | 18.64%            |  |  |  | No            |                  2 | On Loan: No      |
| State Street Global Advisors                        | State Street Institutional US Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   1223530 | NS      | $1223529.79   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| BPA ISRAEL VENTURES LLC                             | BPA ISRAEL VENTURES LLC                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |   3349175 | NS      | $2578.86      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| EMERGING MARKETS VENTURES LP                        | EMERGING MARKETS VENTURES LP                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  11723413 | NS      | $4454.90      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| TELESOFT PARTNERS II QP                             | TELESOFT PARTNERS II QP                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2400000 | NS      | $23808.00     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Godrej Properties Ltd                               | Godrej Properties Ltd                                      | CUSIP: 000000000<br>LEI: 335800KM3Y5NZWXOE183 | Long             | EC               | CORP              | IN        |    126142 | NS      | $2816424.29   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Havells India Ltd                                   | Havells India Ltd                                          | CUSIP: 000000000<br>LEI: 549300U1LOGHTTNT7D47 | Long             | EC               | CORP              | IN        |     92419 | NS      | $1461562.57   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung C&T Corp                                    | Samsung C&T Corp                                           | CUSIP: 000000000<br>LEI: 988400GFRE4IDFPE9E64 | Long             | EC               | CORP              | KR        |     29739 | NS      | $4939445.06   | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Biologics Co Ltd                            | Samsung Biologics Co Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1834 | NS      | $2153453.77   | 0.69%             |  |  |  | Yes           |                  2 | On Loan: No      |
| HD Hyundai Electric Co Ltd                          | HD Hyundai Electric Co Ltd                                 | CUSIP: 000000000<br>LEI: 988400CSDKM9UHLHGB91 | Long             | EC               | CORP              | KR        |      8197 | NS      | $4402183.81   | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co Ltd                       | ASE Technology Holding Co Ltd                              | CUSIP: 000000000<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |    572000 | NS      | $4510172.02   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| National Bank of Greece SA                          | National Bank of Greece SA                                 | CUSIP: 000000000<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | EC               | CORP              | GR        |    301796 | NS      | $4603129.29   | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| 360 ONE WAM Ltd                                     | 360 ONE WAM Ltd                                            | CUSIP: 000000000<br>LEI: 335800DDYMCDBO5OLL32 | Long             | EC               | CORP              | IN        |    146591 | NS      | $1941341.08   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Naspers Ltd                                         | Naspers Ltd                                                | CUSIP: 000000000<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |     67940 | NS      | $4531017.86   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Episholdings Co Ltd                         | Samsung Episholdings Co Ltd                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       986 | NS      | $508554.37    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Larsen & Toubro Ltd                                 | Larsen & Toubro Ltd                                        | CUSIP: 000000000<br>LEI: 3358003FR3JIC5FRXA90 | Long             | EC               | CORP              | IN        |     90842 | NS      | $4128094.50   | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| UltraTech Cement Ltd                                | UltraTech Cement Ltd                                       | CUSIP: 000000000<br>LEI: 335800PC9O9B4BQHG814 | Long             | EC               | CORP              | IN        |     24906 | NS      | $3270281.18   | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Consultancy Services Ltd                       | Tata Consultancy Services Ltd                              | CUSIP: 000000000<br>LEI: 335800ZJKU9GPQRE2U66 | Long             | EC               | CORP              | IN        |    133467 | NS      | $4774318.06   | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| NTPC Ltd                                            | NTPC Ltd                                                   | CUSIP: 000000000<br>LEI: 335800Q4TRGJXNLVMB81 | Long             | EC               | CORP              | IN        |    821669 | NS      | $3019334.74   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola Icecek AS                                 | Coca-Cola Icecek AS                                        | CUSIP: 000000000<br>LEI: 789000WT80VVLUWJDK41 | Long             | EC               | CORP              | TR        |   1024066 | NS      | $1401313.02   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Localiza Rent a Car SA                              | Localiza Rent a Car SA                                     | CUSIP: 000000000<br>LEI: 984500C442A7E0CD4D11 | Long             | EC               | CORP              | BR        |    357049 | NS      | $2825881.94   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| ITC Ltd                                             | ITC Ltd                                                    | CUSIP: 000000000<br>LEI: 335800WLOU3OFWFTMP43 | Long             | EC               | CORP              | IN        |   1236111 | NS      | $5543664.77   | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanlam Ltd                                          | Sanlam Ltd                                                 | CUSIP: 000000000<br>LEI: 37890014418406D9FC23 | Long             | EC               | CORP              | ZA        |    480020 | NS      | $2854901.56   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Aldar Properties PJSC                               | Aldar Properties PJSC                                      | CUSIP: 000000000<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |   1383214 | NS      | $3273709.28   | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Torrent Pharmaceuticals Ltd                         | Torrent Pharmaceuticals Ltd                                | CUSIP: 000000000<br>LEI: 335800NA6HK275RIJE13 | Long             | EC               | CORP              | IN        |     73414 | NS      | $3139546.10   | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Al Rajhi Bank                                       | Al Rajhi Bank                                              | CUSIP: 000000000<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |    279941 | NS      | $7271499.57   | 2.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Indian Hotels Co Ltd/The                            | Indian Hotels Co Ltd/The                                   | CUSIP: 000000000<br>LEI: 33580076CH5SBY5HWA22 | Long             | EC               | CORP              | IN        |    528884 | NS      | $4344920.95   | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| FPT Corp                                            | FPT Corp                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VN        |   1416229 | NS      | $5152813.06   | 1.66%             |  |  |  | No            |                  2 | On Loan: No      |
| KEI Industries Ltd                                  | KEI Industries Ltd                                         | CUSIP: 000000000<br>LEI: 335800UDWBC2AWPU7M56 | Long             | EC               | CORP              | IN        |     32953 | NS      | $1633884.02   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Multiplan Empreendimentos Imobiliarios SA           | Multiplan Empreendimentos Imobiliarios SA                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    865505 | NS      | $4297694.99   | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Novatek PJSC                                        | Novatek PJSC                                               | CUSIP: 000000000<br>LEI: 2138008R6GCRVBDFA581 | Long             | EC               | CORP              | RU        |     20251 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Raia Drogasil SA                                    | Raia Drogasil SA                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    883008 | NS      | $3766018.36   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Telkom Indonesia Persero Tbk PT                     | Telkom Indonesia Persero Tbk PT                            | CUSIP: 000000000<br>LEI: 529900M5SQZAOKV1PC81 | Long             | EC               | CORP              | ID        |  22955900 | NS      | $4803185.52   | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Cholamandalam Financial Holdings Ltd                | Cholamandalam Financial Holdings Ltd                       | CUSIP: 000000000<br>LEI: 335800WAHI1O38BILX22 | Long             | EC               | CORP              | IN        |     98380 | NS      | $1989493.08   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Cholamandalam Investment and Finance Co Ltd         | Cholamandalam Investment and Finance Co Ltd                | CUSIP: 000000000<br>LEI: 3358008DNPV45O4EII52 | Long             | EC               | CORP              | IN        |    276903 | NS      | $5245729.92   | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi Arabian Oil Co                                | Saudi Arabian Oil Co                                       | CUSIP: 000000000<br>LEI: 5586006WD91QHB7J4X50 | Long             | EC               | CORP              | SA        |    387608 | NS      | $2461370.32   | 0.79%             |  |  |  | Yes           |                  2 | On Loan: No      |
| HDFC Bank Ltd                                       | HDFC Bank Ltd                                              | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |   1194918 | NS      | $13222769.38  | 4.27%             |  |  |  | No            |                  2 | On Loan: No      |
| InPost SA                                           | InPost SA                                                  | CUSIP: 000000000<br>LEI: 2221003M23QLERR89585 | Long             | EC               | CORP              | LU        |    185405 | NS      | $2278389.62   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| JB Chemicals & Pharmaceuticals Ltd                  | JB Chemicals & Pharmaceuticals Ltd                         | CUSIP: 000000000<br>LEI: 335800EZQUJ9BB5YBV04 | Long             | EC               | CORP              | IN        |     71730 | NS      | $1452511.02   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Emirates Central Cooling Systems Corp               | Emirates Central Cooling Systems Corp                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AE        |   6247345 | NS      | $2619538.85   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Zabka Group SA                                      | Zabka Group SA                                             | CUSIP: 000000000<br>LEI: 549300TU2RZ35E4ET914 | Long             | EC               | CORP              | LU        |    379712 | NS      | $2415682.69   | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Localiza Rent a Car SA                              | Localiza Rent a Car SA                                     | CUSIP: 000000000<br>LEI: 984500C442A7E0CD4D11 | Long             | EP               | CORP              | BR        |     13733 | NS      | $104001.90    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Electrical Industries Co                            | Electrical Industries Co                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |    654508 | NS      | $1952374.96   | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| SBI Life Insurance Co Ltd                           | SBI Life Insurance Co Ltd                                  | CUSIP: 000000000<br>LEI: 335800WMVIESQUO95586 | Long             | EC               | CORP              | IN        |    245432 | NS      | $5553919.49   | 1.79%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Credicorp Ltd                                       | Credicorp Ltd                                              | CUSIP: 000000000<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |      4743 | NS      | $1361241.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                      | NU Holdings Ltd/Cayman Islands                             | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |    424275 | NS      | $7102363.50   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-21

**Name of Applicant:** abrdn Emerging Markets ex-China Fund, Inc.

**Signature:** Sharon Ferrari

**Name of Signer:** Sharon Ferrari

**Title:** Assistant Treasurer