# EDGAR Filing Document

**Accession Number:** 0000790500
**File Stem:** 0001752724-23-075807
**Filing Date:** 2023-3
**Character Count:** 183902
**Document Hash:** 399bf8672f90716b1e31c29c1daa7c2d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-075807.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001752724-23-075807

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ABRDN ASIA-PACIFIC INCOME FUND, INC.
- **CENTRAL INDEX KEY:** 0000790500
- **IRS NUMBER:** 133334183
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04611
- **FILM NUMBER:** 23785440

**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 ASIA-PACIFIC INCOME FUND INC
- **DATE OF NAME CHANGE:** 20041102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ABERDEEN ASIA PACIFIC INCOME FUND INC
- **DATE OF NAME CHANGE:** 20010531

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ABERDEN ASIA-PACIFIC INCOME FUND INC
- **DATE OF NAME CHANGE:** 20010531

## Nport-Ex

### Portfolio of Investments (unaudited) <br> As of January 31, 2023

#### abrdn Asia-Pacific Income Fund, Inc.

------

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**CORPORATE BONDS—75.6%** | &nbsp;&nbsp;**CORPORATE BONDS—75.6%** |  |
| &nbsp;&nbsp;**AUSTRALIA—6.1%** |  |  |
| &nbsp;&nbsp;Australia & New Zealand Banking Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(fixed rate to 06/15/2026, variable rate thereafter), 6.75%, 06/15/2026<sup>(a)(b)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;$6051000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.91%, 08/12/2032<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp; 636486 |
| &nbsp;&nbsp;Emeco Pty. Ltd., 6.25%, 07/10/2026<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657386 |
| &nbsp;&nbsp;Macquarie Bank Ltd., 3.62%, 06/03/2030<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6845000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5902311 |
| &nbsp;&nbsp;Mineral Resources Ltd., 8.00%, 11/01/2027<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7013030 |
| &nbsp;&nbsp;National Australia Bank Ltd., 3.50%, 06/09/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1949007 |
| &nbsp;&nbsp;Qantas Airways Ltd., 5.25%, 09/09/2030<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510089 |
| &nbsp;&nbsp;QBE Insurance Group Ltd., (fixed rate to 05/12/2025, variable rate thereafter), 5.88%, 05/12/2025<sup>(a)(b)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3940000 |
| &nbsp;&nbsp;Santos Finance Ltd., 4.13%, 09/14/2027<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8496033 |
| &nbsp;&nbsp;Transurban Queensland Finance Pty Ltd., 3.25%, 08/05/2031<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237324 |
| &nbsp;&nbsp;Wesfarmers Ltd., 2.55%, 06/23/2031<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13398321 |
| &nbsp;&nbsp;Westpac Banking Corp., 4.11%, 04/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188973 |
| &nbsp;&nbsp;**Total Australia** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**49979960** |
| &nbsp;&nbsp;**BAHRAIN—0.3%** |  |  |
| &nbsp;&nbsp;Oil & Gas Holding Co. BSCC (The), 7.50%, 10/25/2027<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2595430 |
| &nbsp;&nbsp;**CHINA—14.2%** |  |  |
| &nbsp;&nbsp;Central China Real Estate Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 04/24/2023<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.65%, 08/27/2023<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.90%, 11/07/2023<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 05/24/2024<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136878 |
| &nbsp;&nbsp;Central Huijin Investment Ltd., 3.02%, 03/13/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4443592 |
| &nbsp;&nbsp;China Construction Bank Corp., 3.45%, 08/10/2031<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7311571 |
| &nbsp;&nbsp;China Evergrande Group, 8.75%, 06/28/2025<sup>(a)(c)(d)(e)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1287500 |
| &nbsp;&nbsp;China Oil & Gas Group Ltd., 4.70%, 06/30/2026<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3207100 |
| &nbsp;&nbsp;CIFI Holdings Group Co. Ltd., 5.95%, 10/20/2025<sup>(a)(c)(d)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402395 |
| &nbsp;&nbsp;CNAC HK Finbridge Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 03/14/2028<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3280226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 06/19/2029<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3298643 |
| &nbsp;&nbsp;Country Garden Holdings Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 04/08/2026<sup>(a)(c)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3162360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 01/12/2031<sup>(a)(c)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2522000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462069 |
| &nbsp;&nbsp;ENN Clean Energy International Investment Ltd., 3.38%, 05/12/2026<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4526000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4122249 |

---

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;Gansu Provincial Highway Aviation Tourism Investment Group Co. Ltd., 3.25%, 11/03/2023<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;$3349800 |
| &nbsp;&nbsp;Geely Automobile Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(fixed rate to 12/09/2024, variable rate thereafter), 4.00%, 12/09/2024<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2824174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VRN, 4.00%, 12/09/2024<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2353478 |
| &nbsp;&nbsp;GLP China Holdings Ltd., 2.95%, 03/29/2026<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3962000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3113736 |
| &nbsp;&nbsp;Huarong Finance II Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/16/2025<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700000 | &nbsp;&nbsp;&nbsp;&nbsp; 6495879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/19/2025<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp; 2271625 |
| &nbsp;&nbsp;Industrial & Commercial Bank of China Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A, 4.15%, 11/16/2030<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7503138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A, 3.28%, 01/20/2032<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp; 4346626 |
| &nbsp;&nbsp;Kaisa Group Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.88%, 07/23/2023<sup>(a)(c)(d)(e)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4603000 | &nbsp;&nbsp;&nbsp; 830382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 09/28/2023<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp; 126279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.95%, 11/12/2023<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3941000 | &nbsp;&nbsp;&nbsp;&nbsp; 710952 |
| &nbsp;&nbsp;Lenovo Group Ltd., 6.54%, 07/27/2032<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5765436 |
| &nbsp;&nbsp;Logan Group Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 07/16/2023<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2301179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 10/19/2025<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2301149 |
| &nbsp;&nbsp;Longfor Group Holdings Ltd., 3.95%, 09/16/2029<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4505603 |
| &nbsp;&nbsp;New Metro Global Ltd., 4.80%, 12/15/2024<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1205271 |
| &nbsp;&nbsp;Shandong Iron & Steel Xinheng International Co. Ltd., 6.50%, 11/05/2023<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3754000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3725920 |
| &nbsp;&nbsp;Shandong Iron And Steel Xinheng International Co. Ltd., 4.80%, 07/28/2024<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953300 |
| &nbsp;&nbsp;Shimao Group Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 02/21/2024<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 07/15/2026<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648605 |
| &nbsp;&nbsp;Shui On Development Holding Ltd., 5.50%, 03/03/2025<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1811000 |
| &nbsp;&nbsp;Sunac China Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 04/26/2024<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.80%, 10/20/2024<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5714000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1621230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 07/09/2025<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1786000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522405 |
| &nbsp;&nbsp;Tencent Holdings Ltd., 2.39%, 06/03/2030<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2777891 |
| &nbsp;&nbsp;Times China Holdings Ltd., 6.20%, 03/22/2026<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360579 |
| &nbsp;&nbsp;Wanda Properties Global Co. Ltd., 11.00%, 01/20/2025<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2659617 |
| &nbsp;&nbsp;Weibo Corp., 3.38%, 07/08/2030<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5012546 |
| &nbsp;&nbsp;Xiaomi Best Time International Ltd., 2.88%, 07/14/2031<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2499449 |
| &nbsp;&nbsp;Yuzhou Group Holdings Co. Ltd., 8.30%, 05/27/2025<sup>(a)(c)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077833 |

---

See accompanying Notes to Portfolio of Investments.

------

### Portfolio of Investments (unaudited) (continued)<br> As of January 31, 2023

#### abrdn Asia-Pacific Income Fund, Inc.

------

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**CORPORATE BONDS (continued)** | &nbsp;&nbsp;**CORPORATE BONDS (continued)** |  |
| &nbsp;&nbsp;**CHINA (continued)** |  |  |
| &nbsp;&nbsp;Zhenro Properties Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 04/14/2024<sup>(a)(c)(d)(e)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;$349119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10%, 09/10/2024<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 87468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 01/07/2026<sup>(a)(c)(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10457000 | &nbsp;&nbsp;&nbsp;&nbsp; 909448 |
| &nbsp;&nbsp;Zhongsheng Group Holdings Ltd., 3.00%, 01/13/2026<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4156000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3758160 |
| &nbsp;&nbsp;**Total China** |  | &nbsp;&nbsp;&nbsp;&nbsp;**115858798** |
| &nbsp;&nbsp;**GERMANY—0.9%** |  |  |
| &nbsp;&nbsp;Landwirtschaftliche Rentenbank, 4.75%, 04/08/2024<sup>(f)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7136722 |
| &nbsp;&nbsp;**HONG KONG—5.0%** |  |  |
| &nbsp;&nbsp;AIA Group Ltd., 5.63%, 10/25/2027<sup>(a)(c)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5206353 |
| &nbsp;&nbsp;CAS Capital No. 1 Ltd., (fixed rate to 07/12/2026, variable rate thereafter), 4.00%, 07/12/2026<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6170500 |
| &nbsp;&nbsp;Far East Horizon Ltd., 4.25%, 10/26/2026<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3227538 |
| &nbsp;&nbsp;Hutchison Whampoa Finance CI Ltd., 7.50%, 08/01/2027<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17235770 |
| &nbsp;&nbsp;Hutchison Whampoa International 03/33 Ltd., 7.45%, 11/24/2033<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1176245 |
| &nbsp;&nbsp;Melco Resorts Finance Ltd., 5.75%, 07/21/2028<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3137943 |
| &nbsp;&nbsp;Prudential PLC, 2.95%, 11/03/2033<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3117722 |
| &nbsp;&nbsp;Vanke Real Estate Hong Kong Co. Ltd., 3.50%, 11/12/2029<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1840000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1536216 |
| &nbsp;&nbsp;**Total Hong Kong** |  | &nbsp;&nbsp;&nbsp;&nbsp;**40808287** |
| &nbsp;&nbsp;**INDIA—16.7%** |  |  |
| &nbsp;&nbsp;Adani Electricity Mumbai Ltd., 3.95%, 02/12/2030<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3702000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2761820 |
| &nbsp;&nbsp;Adani Green Energy UP Ltd. / Prayatna Developers Pvt Ltd. / Parampujya Solar Energy, 6.25%, 12/10/2024<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4883310 |
| &nbsp;&nbsp;Adani Transmission Step-One Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/03/2026<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 05/21/2036<sup>(a)(g)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3388450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2528364 |
| &nbsp;&nbsp;Axis Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 3, 7.60%, 10/20/2023 | &nbsp;&nbsp;&nbsp;&nbsp;200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2433156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1, 8.85%, 12/05/2024 | &nbsp;&nbsp;&nbsp;&nbsp;500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6199182 |
| &nbsp;&nbsp;Axis Bank Ltd./Gift City, (fixed rate to 09/08/2026, variable rate thereafter), 4.10%, 09/08/2026<sup>(a)(b)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9646251 |
| &nbsp;&nbsp;Bharti Airtel International Netherlands BV, 5.35%, 05/20/2024<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377573 |
| &nbsp;&nbsp;CA Magnum Holdings, 5.38%, 10/31/2026<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744000 |

---

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;GMR Hyderabad International Airport Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 04/10/2024<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4173000 | &nbsp;&nbsp;$4120837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/02/2026<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1113600 |
| &nbsp;&nbsp;Greenko Wind Projects Mauritius Ltd., 5.50%, 04/06/2025<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8206000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7736151 |
| &nbsp;&nbsp;HDFC Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(fixed rate to 08/25/2026, variable rate thereafter), 3.70%, 08/25/2026<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7304000 | &nbsp;&nbsp;&nbsp;&nbsp; 6358257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1, 7.95%, 09/21/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9236455 |
| &nbsp;&nbsp;Housing Development Finance Corp. Ltd. Series Q003, 7.90%, 08/24/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215772 |
| &nbsp;&nbsp;ICICI Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.60%, 10/07/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1216597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.15%, 08/06/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3113986 |
| &nbsp;&nbsp;IIFL Finance Ltd. EMTN, 5.88%, 04/20/2023<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5732000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5646020 |
| &nbsp;&nbsp;India Green Power Holdings, 4.00%, 02/22/2027<sup>(a)(c)(g)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7072000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6159651 |
| &nbsp;&nbsp;Indiabulls Housing Finance Ltd., 9.00%, 04/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1152423 |
| &nbsp;&nbsp;Indian Railway Finance Corp. Ltd. Series 129, 8.45%, 12/04/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637615 |
| &nbsp;&nbsp;JSW Infrastructure Ltd., 4.95%, 01/21/2029<sup>(a)(c)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3029635 |
| &nbsp;&nbsp;National Highways Authority of India, 7.70%, 09/13/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1838291 |
| &nbsp;&nbsp;NTPC Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 60, 8.05%, 05/05/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 61-B, 8.10%, 05/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3091859 |
| &nbsp;&nbsp;Periama Holdings LLC, 5.95%, 04/19/2026<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3150112 |
| &nbsp;&nbsp;Power Finance Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 125, 8.65%, 12/28/2024 | &nbsp;&nbsp;&nbsp;&nbsp;400000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4946856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 130C, 8.39%, 04/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3086743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15%, 12/06/2028<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7288164 |
| &nbsp;&nbsp;Power Grid Corp. of India Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 04/25/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series LIII, 8.13%, 04/25/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6284101 |
| &nbsp;&nbsp;REC Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 180A, 8.10%, 06/25/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1839464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 123, 9.34%, 08/25/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1867054 |
| &nbsp;&nbsp;Reliance Industries Ltd., 4.13%, 01/28/2025<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4707353 |
| &nbsp;&nbsp;Shriram Finance Ltd., 4.40%, 03/13/2024<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7710000 |
| &nbsp;&nbsp;State of Maharashtra India, 7.20%, 08/09/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3613133 |
| &nbsp;&nbsp;UPL Corp. Ltd., 4.63%, 06/16/2030<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2753135 |
| &nbsp;&nbsp;**Total India** |  | &nbsp;&nbsp;&nbsp;&nbsp;**136210625** |
| &nbsp;&nbsp;**INDONESIA—4.7%** |  |  |
| &nbsp;&nbsp;Bank Mandiri Persero Tbk PT, 4.75%, 05/13/2025<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2198000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2175468 |

---

See accompanying Notes to Portfolio of Investments.

------

### Portfolio of Investments (unaudited) (continued)<br> As of January 31, 2023

#### abrdn Asia-Pacific Income Fund, Inc.

------

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**CORPORATE BONDS (continued)** | &nbsp;&nbsp;**CORPORATE BONDS (continued)** |  |
| &nbsp;&nbsp;**INDONESIA (continued)** |  |  |
| &nbsp;&nbsp;Bank Rakyat Indonesia Persero Tbk PT Series OB, 8.25%, 08/24/2024 | 10000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$683256 |
| &nbsp;&nbsp;Bank Tabungan Negara Persero Tbk PT, 4.20%, 01/23/2025<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6938650 |
| &nbsp;&nbsp;FPC Treasury Ltd., 4.50%, 04/16/2023<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5326000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5288718 |
| &nbsp;&nbsp;Hutama Karya Persero PT, 3.75%, 05/11/2030<sup>(a)(c)(f)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3766000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3446918 |
| &nbsp;&nbsp;LLPL Capital Pte Ltd., 6.88%, 02/04/2039<sup>(a)(g)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5225850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4846709 |
| &nbsp;&nbsp;Medco Oak Tree Pte Ltd., 7.38%, 05/14/2026<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4569565 |
| &nbsp;&nbsp;Perusahaan Perseroan Persero PT Perusahaan Listrik Negara |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series OB, 8.25%, 07/05/2023 | &nbsp;&nbsp;12000000000 | &nbsp;&nbsp;&nbsp; 808542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15%, 05/21/2048<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3129000 | &nbsp;&nbsp;&nbsp; 3038492 |
| &nbsp;&nbsp;Tower Bersama Infrastructure Tbk PT, 2.75%, 01/20/2026<sup>(a)(c)</sup> | &nbsp;&nbsp; 7181000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6610110 |
| &nbsp;&nbsp;**Total Indonesia** |  | &nbsp;&nbsp;&nbsp;&nbsp;**38406428** |
| &nbsp;&nbsp;**KAZAKHSTAN—0.7%** |  |  |
| &nbsp;&nbsp;Development Bank of Kazakhstan JSC, 10.95%, 05/06/2026<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;3265000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5744579 |
| &nbsp;&nbsp;**KUWAIT—0.8%** |  |  |
| &nbsp;&nbsp;MEGlobal Canada ULC, 5.00%, 05/18/2025<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6759000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6697628 |
| &nbsp;&nbsp;**MACAO—1.6%** |  |  |
| &nbsp;&nbsp;MGM China Holdings Ltd., 5.88%, 05/15/2026<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3312050 |
| &nbsp;&nbsp;Sands China Ltd., 5.63%, 08/08/2025<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4871064 |
| &nbsp;&nbsp;Wynn Macau Ltd., 5.50%, 10/01/2027<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5370000 |
| &nbsp;&nbsp;**Total Macao** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13553114** |
| &nbsp;&nbsp;**MALAYSIA—1.9%** |  |  |
| &nbsp;&nbsp;CIMB Group Holdings Bhd, 4.95%, 03/29/2028<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178934 |
| &nbsp;&nbsp;DRB-Hicom Bhd IMTN, 5.10%, 12/12/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172253 |
| &nbsp;&nbsp;Malayan Banking Bhd IMTN, 4.08%, 09/25/2024<sup>(b)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168845 |
| &nbsp;&nbsp;Pengerang LNG Two Sdn Bhd |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IMTN, 2.86%, 10/20/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IMTN, 2.92%, 10/19/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075145 |
| &nbsp;&nbsp;Petroleum Sarawak Exploration & Production Sdn Bhd IMTN, 4.10%, 03/19/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2289599 |
| &nbsp;&nbsp;Press Metal Aluminium Holdings Bhd IMTN, 4.00%, 08/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1165961 |
| &nbsp;&nbsp;TNB Global Ventures Capital Bhd, 3.24%, 10/19/2026<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6550390 |
| &nbsp;&nbsp;**Total Malaysia** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15688521** |
| &nbsp;&nbsp;**MEXICO—0.9%** |  |  |
| &nbsp;&nbsp;Petroleos Mexicanos, 7.19%, 09/12/2024<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7072896 |

---

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**MONGOLIA—0.3%** |  |  |
| &nbsp;&nbsp;Studio City Finance Ltd., 5.00%, 01/15/2029<sup>(a)(c)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;$2842718 |
| &nbsp;&nbsp;**NORWAY—0.6%** |  |  |
| &nbsp;&nbsp;Kommunalbanken AS, 4.50%, 04/17/2023<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4951792 |
| &nbsp;&nbsp;**PHILIPPINES—5.1%** |  |  |
| &nbsp;&nbsp;AC Energy Finance International Ltd., 5.10%, 11/25/2025<sup>(a)(b)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5239400 |
| &nbsp;&nbsp;Globe Telecom, Inc., (fixed rate to 08/02/2026, variable rate thereafter), 4.20%, 08/02/2026<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4097000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3768011 |
| &nbsp;&nbsp;ICTSI Treasury BV, 5.88%, 09/17/2025<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6944700 |
| &nbsp;&nbsp;Manila Water Co., Inc., 4.38%, 07/30/2030<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9658000 |
| &nbsp;&nbsp;Megaworld Corp., 4.25%, 04/17/2023<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9086000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8954253 |
| &nbsp;&nbsp;Royal Capital BV, (fixed rate to 05/05/2024, variable rate thereafter), 4.88%, 05/05/2024<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6825000 |
| &nbsp;&nbsp;**Total Philippines** |  | &nbsp;&nbsp;**41389364** |
| &nbsp;&nbsp;**REPUBLIC OF KOREA—3.4%** |  |  |
| &nbsp;&nbsp;Busan Bank Co. Ltd., 3.63%, 07/25/2026<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400000 | &nbsp;&nbsp;&nbsp;&nbsp;10417434 |
| &nbsp;&nbsp;Hanwha Totalenergies Petrochemical Co. Ltd., 3.88%, 01/23/2024<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3247364 |
| &nbsp;&nbsp;Kookmin Bank, 2.50%, 11/04/2030<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633578 |
| &nbsp;&nbsp;Kyobo Life Insurance Co. Ltd., (fixed rate to 06/15/2027, variable rate thereafter), 5.90%, 06/15/2052<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2089811 |
| &nbsp;&nbsp;Shinhan Bank Co. Ltd., 4.50%, 03/26/2028<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5588775 |
| &nbsp;&nbsp;SK Hynix, Inc., 2.38%, 01/19/2031<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2071000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569467 |
| &nbsp;&nbsp;Tongyang Life Insurance Co. Ltd., (fixed rate to 09/22/2025, variable rate thereafter), 5.25%, 09/22/2025<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3120750 |
| &nbsp;&nbsp;**Total Republic of Korea** |  | &nbsp;&nbsp;&nbsp;&nbsp;**27667179** |
| &nbsp;&nbsp;**SAUDI ARABIA—0.4%** |  |  |
| &nbsp;&nbsp;Saudi Electricity Global Sukuk Co. 3, 5.50%, 04/08/2044<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2976000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3132169 |
| &nbsp;&nbsp;**SINGAPORE—1.9%** |  |  |
| &nbsp;&nbsp;DBS Group Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(fixed rate to 02/27/2025, variable rate thereafter), 3.30%, 02/27/2025<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3401436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(fixed rate to 12/11/2023, variable rate thereafter), 4.52%, 12/11/2028<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2379456 |

---

See accompanying Notes to Portfolio of Investments.

------

### Portfolio of Investments (unaudited) (continued)<br> As of January 31, 2023

#### abrdn Asia-Pacific Income Fund, Inc.

------

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**CORPORATE BONDS (continued)** | &nbsp;&nbsp;**CORPORATE BONDS (continued)** |  |
| &nbsp;&nbsp;**SINGAPORE (continued)** |  |  |
| &nbsp;&nbsp;GLP Pte Ltd., (fixed rate to 05/17/2026, variable rate thereafter), 4.50%, 05/17/2026<sup>(a)(b)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4538000 | &nbsp;&nbsp;&nbsp;&nbsp;$3063150 |
| &nbsp;&nbsp;Vena Energy Capital Pte Ltd., 3.13%, 02/26/2025<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6515427 |
| &nbsp;&nbsp;**Total Singapore** |  | &nbsp;&nbsp;&nbsp;&nbsp;**15359469** |
| &nbsp;&nbsp;**SOUTH KOREA—1.3%** |  |  |
| &nbsp;&nbsp;SK Hynix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REGS, 2.38%, 01/19/2031<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp; 5304813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 01/17/2033<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;&nbsp; 5476317 |
| &nbsp;&nbsp;**Total South Korea** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10781130** |
| &nbsp;&nbsp;**THAILAND—3.2%** |  |  |
| &nbsp;&nbsp;Bangkok Bank PCL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.03%, 03/15/2029<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1362037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(fixed rate to 09/25/2029, variable rate thereafter), 3.73%, 09/25/2034<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6900000 | &nbsp;&nbsp;&nbsp; 6061098 |
| &nbsp;&nbsp;GC Treasury Center Co. Ltd., 4.40%, 03/30/2032<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4209000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3869078 |
| &nbsp;&nbsp;Krung Thai Bank PCL, (fixed rate to 03/25/2026, variable rate thereafter), 4.40%, 03/25/2026<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6468000 |
| &nbsp;&nbsp;Minor International PCL, (fixed rate to 06/29/2023, variable rate thereafter), 3.10%, 06/29/2023<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5705460 |
| &nbsp;&nbsp;PTTEP Treasury Center Co. Ltd., 3.90%, 12/06/2059<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2419727 |
| &nbsp;&nbsp;**Total Thailand** |  | &nbsp;&nbsp;&nbsp;&nbsp;**25885400** |
| &nbsp;&nbsp;**UNITED ARAB EMIRATES—1.9%** |  |  |
| &nbsp;&nbsp;DP World Ltd., 6.85%, 07/02/2037<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3051713 |
| &nbsp;&nbsp;Galaxy Pipeline Assets Bidco Ltd., 2.63%, 03/31/2036<sup>(a)(g)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7237000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5910853 |
| &nbsp;&nbsp;MAF Global Securities Ltd., (fixed rate to 03/20/2026, variable rate thereafter), 6.38%, 03/20/2026<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6402500 |
| &nbsp;&nbsp;**Total United Arab Emirates** |  | &nbsp;&nbsp;&nbsp;&nbsp;**15365066** |
| &nbsp;&nbsp;**UNITED KINGDOM—2.6%** |  |  |
| &nbsp;&nbsp;HSBC Holdings PLC, (fixed rate to 03/23/2023, variable rate thereafter), 6.25%, 03/23/2023<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6260000 |
| &nbsp;&nbsp;Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(fixed rate to 04/02/2023, variable rate thereafter), 7.75%, 04/02/2023<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2759000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2772326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 04/12/2026<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4861177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 01/09/2029<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7585975 |
| &nbsp;&nbsp;**Total United Kingdom** |  | &nbsp;&nbsp;&nbsp;&nbsp;**21479478** |

---

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**UNITED STATES—0.6%** |  |  |
| &nbsp;&nbsp;Hyundai Capital America, 6.38%, 04/08/2030<sup>(a)(c)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100000 | &nbsp;&nbsp;&nbsp;&nbsp;$5360297 |
| &nbsp;&nbsp;**VIETNAM—0.5%** |  |  |
| &nbsp;&nbsp;Mong Duong Finance Holdings BV, 5.13%, 05/07/2029<sup>(a)(c)(g)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3835900 |
| &nbsp;&nbsp;**Total Corporate Bonds** |  | &nbsp;&nbsp;&nbsp;**617802950** |
| &nbsp;&nbsp;**GOVERNMENT BONDS—62.4%** | &nbsp;&nbsp;**GOVERNMENT BONDS—62.4%** |  |
| &nbsp;&nbsp;**ANGOLA—1.4%** |  |  |
| &nbsp;&nbsp;Angolan Government International Bond, 9.50%, 11/12/2025<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000000 | &nbsp;&nbsp;&nbsp;&nbsp; 11467060 |
| &nbsp;&nbsp;**AUSTRALIA—4.2%** |  |  |
| &nbsp;&nbsp;Australia Government Bond Series 154, 2.75%, 11/21/2029<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1559775 |
| &nbsp;&nbsp;New South Wales Treasury Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 05/20/2026<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5356631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 02/20/2030<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8970358 |
| &nbsp;&nbsp;Queensland Treasury Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 07/21/2023<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15585030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 08/21/2030<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205190 |
| &nbsp;&nbsp;Treasury Corp. of Victoria, 2.25%, 11/20/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp; 2427875 |
| &nbsp;&nbsp;**Total Australia** |  | &nbsp;&nbsp;&nbsp;&nbsp;**34104859** |
| &nbsp;&nbsp;**BRAZIL—2.7%** |  |  |
| &nbsp;&nbsp;Brazil Notas do Tesouro Nacional, 10.00%, 01/01/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22283947 |
| &nbsp;&nbsp;**CHINA—4.6%** |  |  |
| &nbsp;&nbsp;China Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.68%, 05/21/2030<sup>(h)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11664911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.27%, 11/19/2030<sup>(h)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16865598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.02%, 05/27/2031<sup>(h)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9005364 |
| &nbsp;&nbsp;**Total China** |  | &nbsp;&nbsp;&nbsp;&nbsp;**37535873** |
| &nbsp;&nbsp;**COLOMBIA—0.7%** |  |  |
| &nbsp;&nbsp;Colombian TES Series B,Series B, 10.00%, 07/24/2024 | 28000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5864235 |
| &nbsp;&nbsp;**HONG KONG—1.6%** |  |  |
| &nbsp;&nbsp;Airport Authority, 4.88%, 01/12/2033<sup>(a)(c)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401617 |
| &nbsp;&nbsp;Hong Kong Government International Bond, 5.25%, 01/11/2053<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1853124 |
| &nbsp;&nbsp;Jordan Government International Bond, 7.75%, 01/15/2028<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9502000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9812715 |
| &nbsp;&nbsp;**Total Hong Kong** |  | &nbsp;&nbsp;&nbsp;&nbsp;**13067456** |
| &nbsp;&nbsp;**INDIA—4.0%** |  |  |
| &nbsp;&nbsp;India Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.79%, 05/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3898391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.17%, 01/08/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6669586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.26%, 01/14/2029 | &nbsp;&nbsp;&nbsp;1340000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16296965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.20%, 09/30/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.19%, 09/16/2034 | &nbsp;&nbsp;&nbsp;&nbsp;500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5486013 |
| &nbsp;&nbsp;**Total India** |  | &nbsp;&nbsp;&nbsp;&nbsp;**32479767** |

---

See accompanying Notes to Portfolio of Investments.

------

### Portfolio of Investments (unaudited) (continued)<br> As of January 31, 2023

#### abrdn Asia-Pacific Income Fund, Inc.

------

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**GOVERNMENT BONDS (continued)** | &nbsp;&nbsp;**GOVERNMENT BONDS (continued)** |  |
| &nbsp;&nbsp;**INDONESIA—16.3%** |  |  |
| &nbsp;&nbsp;Indonesia Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 10/12/2035<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9880000 | &nbsp;&nbsp;$12819300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 01/17/2038<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7410000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 02/11/2049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2704016 |
| &nbsp;&nbsp;Indonesia Treasury Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series FR64, 6.13%, 05/15/2028 | 271570000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17829413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series FR71, 9.00%, 03/15/2029 | 200000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14988125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series FR78, 8.25%, 05/15/2029 | 240000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17360694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series FR82, 7.00%, 09/15/2030 | &nbsp;&nbsp;65000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4418526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series FR87, 6.50%, 02/15/2031 | &nbsp;&nbsp;21000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1383800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series FR73, 8.75%, 05/15/2031 | 300000000000 | &nbsp;&nbsp;&nbsp;&nbsp;22629086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series FR54, 9.50%, 07/15/2031 | &nbsp;&nbsp;16000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 02/15/2033 | &nbsp;&nbsp;&nbsp;78106000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5297556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series FR72, 8.25%, 05/15/2036 | 150000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11154036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series FR79, 8.38%, 04/15/2039 | &nbsp;&nbsp;98500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7439346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series FR83, 7.50%, 04/15/2040 | &nbsp;&nbsp;44000000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3077182 |
| &nbsp;&nbsp;Perusahaan Penerbit SBSN Indonesia III, 4.15%, 03/29/2027<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3734487 |
| &nbsp;&nbsp;**Total Indonesia** |  | &nbsp;&nbsp;**133491027** |
| &nbsp;&nbsp;**IRAQ—0.4%** |  |  |
| &nbsp;&nbsp;Iraq International Bond, 5.80%, 01/15/2028<sup>(a)(c)(g)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2891938 |
| &nbsp;&nbsp;**MALAYSIA—6.6%** |  |  |
| &nbsp;&nbsp;Malaysia Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.48%, 06/14/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4109112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 0114, 4.18%, 07/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4873229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 11/16/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11472319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 0513, 3.73%, 06/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4156220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 04/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9877926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.76%, 05/22/2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9793000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2178054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 10/15/2042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4125822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92%, 07/06/2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7833907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.07%, 06/15/2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3317393 |
| &nbsp;&nbsp;Malaysia Government Investment Issue, 3.45%, 07/15/2036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1797114 |
| &nbsp;&nbsp;**Total Malaysia** |  | &nbsp;&nbsp;&nbsp;**53741096** |
| &nbsp;&nbsp;**MALDIVES—0.2%** |  |  |
| &nbsp;&nbsp;Maldives Sukuk Issuance Ltd., 9.88%, 04/08/2026<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1888039 |
| &nbsp;&nbsp;**MEXICO—3.3%** |  |  |
| &nbsp;&nbsp;Mexican Bonos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series M20, 10.00%, 12/05/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2661321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series M20, 8.50%, 05/31/2029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24682742 |
| &nbsp;&nbsp;**Total Mexico** |  | &nbsp;&nbsp;&nbsp;**27344063** |
| &nbsp;&nbsp;**MONGOLIA—0.8%** |  |  |
| &nbsp;&nbsp;Development Bank of Mongolia LLC, 7.25%, 10/23/2023<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6945336 |

---

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**NIGERIA—1.4%** |  |  |
| &nbsp;&nbsp;Nigeria Government International Bond, 8.75%, 01/21/2031<sup>(a)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14100000 | &nbsp;&nbsp;$11463187 |
| &nbsp;&nbsp;**PAKISTAN—2.4%** |  |  |
| &nbsp;&nbsp;Pakistan Global Sukuk Programme Co. Ltd. (The), 7.95%, 01/31/2029<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6245000 | &nbsp;&nbsp;&nbsp;&nbsp; 3778225 |
| &nbsp;&nbsp;Pakistan Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 04/15/2024<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7495000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4256710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 09/30/2025<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5209000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2703492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 12/05/2027<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18129000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7614180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 04/08/2031<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979209 |
| &nbsp;&nbsp;**Total Pakistan** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19331816** |
| &nbsp;&nbsp;**PHILIPPINES—3.3%** |  |  |
| &nbsp;&nbsp;Philippine Government Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 09/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9222547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 11/05/2034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9978027 |
| &nbsp;&nbsp;Philippine Government International Bond, 4.20%, 03/29/2047 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570000 | &nbsp;&nbsp;&nbsp;&nbsp; 2255582 |
| &nbsp;&nbsp;Philippines Government Bonds, 8.00%, 09/30/2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260310000 | &nbsp;&nbsp;&nbsp;&nbsp; 5506265 |
| &nbsp;&nbsp;**Total Philippines** |  | &nbsp;&nbsp;&nbsp;&nbsp;**26962421** |
| &nbsp;&nbsp;**REPUBLIC OF KOREA—2.7%** |  |  |
| &nbsp;&nbsp;Korea Treasury Bond, 2.50%, 03/10/2052 | 31500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21908461 |
| &nbsp;&nbsp;**SINGAPORE—1.1%** |  |  |
| &nbsp;&nbsp;Singapore Government Bond, 3.00%, 09/01/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8964336 |
| &nbsp;&nbsp;**SOUTH KOREA—2.0%** |  |  |
| &nbsp;&nbsp;Export-Import Bank of Korea, 5.13%, 01/11/2033 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1684000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1764091 |
| &nbsp;&nbsp;Industrial Bank of Korea, 5.13%, 10/25/2024<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2511889 |
| &nbsp;&nbsp;Korea Treasury Bond, 3.13%, 09/10/2027 | 14500000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11670494 |
| &nbsp;&nbsp;**Total South Korea** |  | &nbsp;&nbsp;&nbsp;&nbsp;**15946474** |
| &nbsp;&nbsp;**UKRAINE—0.8%** |  |  |
| &nbsp;&nbsp;Ukraine Government Bond, 15.84%, 02/26/2025<sup>(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4094263 |
| &nbsp;&nbsp;Ukraine Government International Bond, 7.38%, 09/25/2034<sup>(a)(d)(e)(g)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2096001 |
| &nbsp;&nbsp;**Total Ukraine** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6190264** |
| &nbsp;&nbsp;**URUGUAY—1.9%** |  |  |
| &nbsp;&nbsp;Uruguay Government International Bond, 8.25%, 05/21/2031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674024434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15647649 |
| &nbsp;&nbsp;**Total Government Bonds** |  | &nbsp;&nbsp;&nbsp;**509519304** |

---

See accompanying Notes to Portfolio of Investments.

------

### Portfolio of Investments (unaudited) (continued)<br> As of January 31, 2023

#### abrdn Asia-Pacific Income Fund, Inc.

------

---

| | | | |
|:---|:---|:---|:---|
| | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**SHORT-TERM INVESTMENT—1.1%** | &nbsp;&nbsp;**SHORT-TERM INVESTMENT—1.1%** | &nbsp;&nbsp;**SHORT-TERM INVESTMENT—1.1%** |  |
| &nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.18%<sup>(i)</sup> |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9247557 | &nbsp;&nbsp;$9247558 |
| &nbsp;&nbsp;**Total Short-Term Investment** | &nbsp;&nbsp;**Total Short-Term Investment** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9247558** |
| &nbsp;&nbsp;**Total Investments<br> (Cost $1,311,975,298)—139.1%** | &nbsp;&nbsp;**Total Investments<br> (Cost $1,311,975,298)—139.1%** |  | &nbsp;&nbsp;**1136569812** |
| &nbsp;&nbsp;Long Term Debt Securities | &nbsp;&nbsp;Long Term Debt Securities | &nbsp;&nbsp;Long Term Debt Securities | &nbsp;&nbsp;&nbsp;&nbsp;(315000000) |
| &nbsp;&nbsp;Mandatory Redeemable Preferred Stock at Liquidation Value | &nbsp;&nbsp;Mandatory Redeemable Preferred Stock at Liquidation Value | &nbsp;&nbsp;Mandatory Redeemable Preferred Stock at Liquidation Value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50000000) |
| &nbsp;&nbsp;Other Assets in Excess of Liabilities—5.6% | &nbsp;&nbsp;Other Assets in Excess of Liabilities—5.6% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45525820 |
| &nbsp;&nbsp;**Net Assets—100.0%** | &nbsp;&nbsp;**Net Assets—100.0%** |  | &nbsp;&nbsp;&nbsp;**$817095632** |

---

(a) Denotes a security issued under Regulation S or Rule 144A.

(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) Illiquid security.

(f) Denotes the security is government guaranteed.

(g) Sinkable security.

(h) China A Shares. These shares are issued in local currency, traded in the local stock markets and are held through either a Qualified Foreign Institutional Investor
(QFII) license or the Shanghai or Shenzhen Hong-Kong Stock Connect program.

(i) Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of January 31, 2023.

---

| | |
|:---|:---|
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CNH | Chinese Yuan Renminbi Offshore |
| CNY | Chinese Yuan Renminbi |
| COP | Colombian Peso |
| EMTN | Euro Medium Term Note |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| KRW | South Korean Won |
| KZT | Kazakhstan Tenge |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| PHP | Philippine Peso |
| PLC | Public Limited Company |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| UAH | Ukraine Hryvna |
| USD | U.S. Dollar |
| UYU | Uruguayan Peso |
| VRN | Variable Rate Note |

---

At January 31, 2023, the Fund held the following futures contracts:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts** | &nbsp;&nbsp;**Number of<br> Contracts<br> Long/(Short)** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Market<br> Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** |
| &nbsp;&nbsp;**Long Contract Positions** |  |  |  |  |  |
| &nbsp;&nbsp;Korea Treasury Bond - 10 year | &nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;3/21/2023 | &nbsp;&nbsp;&nbsp;$37139925 | &nbsp;&nbsp;$37487579 | &nbsp;&nbsp;&nbsp;$347654 |
| &nbsp;&nbsp;United States Treasury Bond—Ultra Bond | &nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;3/22/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42252160 | &nbsp;&nbsp;&nbsp;&nbsp;44084250 | &nbsp;&nbsp;&nbsp;&nbsp;1832090 |
| &nbsp;&nbsp;United States Treasury Note 6%—5 year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;3/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp;10689826 | &nbsp;&nbsp;&nbsp;&nbsp;10814977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125151 |
|  |  |  |  |  | &nbsp;&nbsp;$2304895 |
| &nbsp;&nbsp;**Short Contract Positions** |  |  |  |  |  |
| &nbsp;&nbsp;United States Treasury Note 6%—10 year | &nbsp;&nbsp;(1148) | &nbsp;&nbsp;3/22/2023 | &nbsp;&nbsp;$(88895644) | &nbsp;&nbsp;$(90696375) | &nbsp;&nbsp;$(1800731) |
| &nbsp;&nbsp;United States Treasury Note 6%—5 year | &nbsp;&nbsp;&nbsp;&nbsp;(114) | &nbsp;&nbsp;3/31/2023 | &nbsp;&nbsp;&nbsp;&nbsp;(12307380) | &nbsp;&nbsp;&nbsp;&nbsp;(12453610) | &nbsp;&nbsp;&nbsp;&nbsp;(146230) |
|  |  |  |  |  | &nbsp;&nbsp;$(1946961) |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;**$357934** |

---

At January 31, 2023, the Fund held the following forward foreign currency contracts:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Purchase Contracts<br> Settlement Date** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Amount<br> Purchased** | &nbsp;&nbsp;**Amount<br> Purchased** | &nbsp;&nbsp;**Amount<br> Sold** | &nbsp;&nbsp;**Amount<br> Sold** | &nbsp;&nbsp;**Fair Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** |
| &nbsp;&nbsp;**CNH/United States Dollar** | &nbsp;&nbsp;**CNH/United States Dollar** | &nbsp;&nbsp;**CNH/United States Dollar** |  |  |  |  |  |
| &nbsp;&nbsp;04/19/2023 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;CNH | &nbsp;&nbsp;&nbsp;85583056 | &nbsp;&nbsp;USD | &nbsp;&nbsp;12712372 | &nbsp;&nbsp;$12731067 | &nbsp;&nbsp;$18695 |
| &nbsp;&nbsp;**Indian Rupee/United States Dollar** | &nbsp;&nbsp;**Indian Rupee/United States Dollar** | &nbsp;&nbsp;**Indian Rupee/United States Dollar** |  |  |  |  |  |
| &nbsp;&nbsp;03/09/2023 | &nbsp;&nbsp;Citibank N.A. | &nbsp;&nbsp;&nbsp;INR | &nbsp;&nbsp;158641000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1941789 | &nbsp;&nbsp;&nbsp;&nbsp;1936169 | &nbsp;&nbsp;&nbsp;&nbsp;(5620) |

---

See accompanying Notes to Portfolio of Investments.

------

### Portfolio of Investments (unaudited) (concluded)<br> As of January 31, 2023

#### abrdn Asia-Pacific Income Fund, Inc.

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Purchase Contracts<br> Settlement Date** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Amount<br> Purchased** | &nbsp;&nbsp;**Amount<br> Purchased** | &nbsp;&nbsp;**Amount<br> Sold** | &nbsp;&nbsp;**Amount<br> Sold** | &nbsp;&nbsp;**Fair Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** |
| &nbsp;&nbsp;**Indonesian Rupiah/United States Dollar** | &nbsp;&nbsp;**Indonesian Rupiah/United States Dollar** | &nbsp;&nbsp;**Indonesian Rupiah/United States Dollar** |  |  |  |  |  |
| &nbsp;&nbsp;04/14/2023 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;123011708298 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;8136955 | &nbsp;&nbsp;&nbsp;&nbsp;$8208546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$71591 |
| &nbsp;&nbsp;**Philippine Peso/United States Dollar** | &nbsp;&nbsp;**Philippine Peso/United States Dollar** | &nbsp;&nbsp;**Philippine Peso/United States Dollar** |  |  |  |  |  |
| &nbsp;&nbsp;02/07/2023 | &nbsp;&nbsp;Citibank N.A. | &nbsp;&nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491344518 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;8565531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8989576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424045 |
| &nbsp;&nbsp;02/07/2023 | &nbsp;&nbsp;UBS AG | &nbsp;&nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806619903 | &nbsp;&nbsp;USD | &nbsp;&nbsp;14755827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14757813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986 |
| &nbsp;&nbsp;05/02/2023 | &nbsp;&nbsp;Citibank N.A. | &nbsp;&nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51580126 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;941346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| &nbsp;&nbsp;**Singapore Dollar/United States Dollar** | &nbsp;&nbsp;**Singapore Dollar/United States Dollar** | &nbsp;&nbsp;**Singapore Dollar/United States Dollar** |  |  |  |  |  |
| &nbsp;&nbsp;02/28/2023 | &nbsp;&nbsp;Royal Bank of Canada | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5632794 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;4165454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4289842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124388 |
| &nbsp;&nbsp;02/28/2023 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31821325 | &nbsp;&nbsp;USD | &nbsp;&nbsp;23182369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24234594 | &nbsp;&nbsp;&nbsp;&nbsp;1052225 |
| &nbsp;&nbsp;**South Korean Won/United States Dollar** | &nbsp;&nbsp;**South Korean Won/United States Dollar** | &nbsp;&nbsp;**South Korean Won/United States Dollar** |  |  |  |  |  |
| &nbsp;&nbsp;03/28/2023 | &nbsp;&nbsp;Citibank N.A. | &nbsp;&nbsp;KRW | &nbsp;&nbsp;&nbsp;&nbsp;3956522845 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;3122305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3216525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94220 |
| &nbsp;&nbsp;**Thai Baht/United States Dollar** | &nbsp;&nbsp;**Thai Baht/United States Dollar** | &nbsp;&nbsp;**Thai Baht/United States Dollar** |  |  |  |  |  |
| &nbsp;&nbsp;03/15/2023 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;&nbsp;THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957179529 | &nbsp;&nbsp;USD | &nbsp;&nbsp;27873521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29120557 | &nbsp;&nbsp;&nbsp;&nbsp;1247036 |
|  |  |  |  |  |  | &nbsp;&nbsp;**$108426052** | &nbsp;&nbsp;**$3028583** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Sale Contracts<br> Settlement Date** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Amount<br> Purchased** | &nbsp;&nbsp;**Amount<br> Purchased** | &nbsp;&nbsp;**Amount<br> Sold** | &nbsp;&nbsp;**Amount<br> Sold** | &nbsp;&nbsp;**Fair Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** |
| &nbsp;&nbsp;**United States Dollar/Indian Rupee** | &nbsp;&nbsp;**United States Dollar/Indian Rupee** | &nbsp;&nbsp;**United States Dollar/Indian Rupee** |  |  |  |  |  |
| &nbsp;&nbsp;03/09/2023 | &nbsp;&nbsp;Citibank N.A. | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;2530847 | &nbsp;&nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;209022884 | &nbsp;&nbsp;$2551065 | &nbsp;&nbsp;&nbsp;&nbsp;$(20218) |
| &nbsp;&nbsp;**United States Dollar/Malaysian Ringgit** | &nbsp;&nbsp;**United States Dollar/Malaysian Ringgit** | &nbsp;&nbsp;**United States Dollar/Malaysian Ringgit** |  |  |  |  |  |
| &nbsp;&nbsp;03/31/2023 | &nbsp;&nbsp;Standard Chartered Bank | &nbsp;&nbsp;USD | &nbsp;&nbsp;24813344 | &nbsp;&nbsp;MYR | &nbsp;&nbsp;&nbsp;&nbsp;108116703 | &nbsp;&nbsp;&nbsp;&nbsp;25431899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(618555) |
| &nbsp;&nbsp;**United States Dollar/Philippine Peso** | &nbsp;&nbsp;**United States Dollar/Philippine Peso** | &nbsp;&nbsp;**United States Dollar/Philippine Peso** |  |  |  |  |  |
| &nbsp;&nbsp;02/07/2023 | &nbsp;&nbsp;Citibank N.A. | &nbsp;&nbsp;USD | &nbsp;&nbsp;18396389 | &nbsp;&nbsp;PHP | &nbsp;&nbsp;1055549559 | &nbsp;&nbsp;&nbsp;&nbsp;19312198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(915809) |
| &nbsp;&nbsp;02/07/2023 | &nbsp;&nbsp;HSBC Bank USA N.A. | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;4317673 | &nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;242414863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4435191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117518) |
| &nbsp;&nbsp;05/02/2023 | &nbsp;&nbsp;Citibank N.A. | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941346 | &nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51580126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17) |
|  |  |  |  |  |  | &nbsp;&nbsp;**$52671716** | &nbsp;&nbsp;**$(1672117)** |
| &nbsp;&nbsp;**Unrealized appreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized appreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized appreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized appreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized appreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized appreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized appreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**$3034203** |
| &nbsp;&nbsp;**Unrealized depreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized depreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized depreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized depreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized depreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized depreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**Unrealized depreciation on forward foreign currency exchange contracts** | &nbsp;&nbsp;**$(1677737)** |

---

See accompanying Notes to Portfolio of Investments.

------

Notes to Portfolio of Investments <br> January 31, 2023 (unaudited)

------

1. 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. Pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the "1940 Act"), the Board of Directors (the "Board") designated abrdn Asia Limited (formerly, Aberdeen Standard Investments (Asia) Limited) ("abrdn Asia" or the "Investment Manager") or as the valuation designee ("Valuation Designee") for the Fund to perform the fair value determinations relating to Fund investments for which market quotations are not readily available.

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. 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 Valuation Designee 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 the last quoted or evaluated bid price on the valuation date provided by an independent pricing service, or on the basis of 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, which has elected to qualify as a "government money market fund" pursuant to Rule 2a-7 under the 1940 Act, and has an objective, which is not guaranteed, to maintain a $1.00 per share net asset value ("NAV"). 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 and centrally cleared 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 it trades closed before the Valuation Time), the security is valued at fair value as determined by the Valuation Designee, 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 Manager may be classified as Level 2 or Level 3 depending on the nature of the inputs.

**8**

## 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 ASIA-PACIFIC INCOME FUND, INC.

- **b. Investment Company Act file number:** 811-04611

- **c. CIK number of Registrant:** 0000790500

- **d. LEI of Registrant:** 549300J666ZH67203572

- **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 ASIA-PACIFIC INCOME FUND, INC.

- **c. LEI of Series:** 549300J666ZH67203572

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $1144944328.09

**Total Liabilities:** $327777554.05

**Net Assets:** $817166774.04

**Cash Not Reported:** $7990651.60

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -1386.67000000 | **1-Year:** -24175.63000000 | **5-Year:** -68607.51000000 | **10-Year:** -72282.17000000 | **30-Year:** -18996.82000000

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

- **3-Month:** -1578.45000000 | **1-Year:** -33069.52000000 | **5-Year:** -57051.66000000 | **10-Year:** -30104.73000000 | **30-Year:** -23195.63000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 11.69%               | 1.38%                | 10.93%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-593364.15              | $56511174.76                               |
| Month 2  | $420157.44               | $13156079.36                               |
| Month 3  | $-246386.19              | $34275605.09                               |

**Designated Index Information**

- **Index Name:** Bloomberg Ausbond Composite Index (10%); Markit iBoxx Asian Local Bond Index (40%); JP Morgan Asia Credit Index - Diversified (35%);  JP Morgan GBI Emerging Market Global Diversified (15%)

- **Index Identifier:** (Blended performane benchmark) BACMO Index, IBXXALBI Index, JADICOTR Index, JGENVUUG Index

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHINA CONSTRUCTION BANK         | China Construction Bank Corp                                                     | CUSIP: 000000000<br>LEI: 5493001KQW6DM7KEDR62 | Long             | DBT              | CORP              | CN        |     50000000 | PA      | $7311570.68   | 0.89%             | 2031-08-10      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY FINANCE LTD         | Studio City Finance Ltd                                                          | CUSIP: 000000000<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |      3500000 | PA      | $2842717.50   | 0.35%             | 2029-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AIRPORT AUTHORITY HK            | Airport Authority                                                                | CUSIP: 00946AAJ3<br>LEI: 254900748HGC4RBR4O84 | Long             | DBT              | NUSS              | HK        |      1350000 | PA      | $1401616.58   | 0.17%             | 2033-01-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT             | Malaysia Government Bond                                                         | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     17450000 | PA      | $4109112.17   | 0.50%             | 2024-06-14      | Fixed         | 3.48%                 | No            |                  2 | On Loan: No      |
| GANSU HIGHWAY AVIATION          | Gansu Provincial Highway Aviation Tourism Investment Group Co Ltd                | CUSIP: 000000000<br>LEI: 6354005FD8B3J4OSMC91 | Long             | DBT              | CORP              | CN        |      3600000 | PA      | $3349800.00   | 0.41%             | 2023-11-03      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT             | Malaysia Government Bond                                                         | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     20500000 | PA      | $4873229.24   | 0.60%             | 2024-07-15      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| FAR EAST HORIZON LTD            | Far East Horizon Ltd                                                             | CUSIP: 000000000<br>LEI: 549300S9XRGO1ZPUHE62 | Long             | DBT              | CORP              | HK        |      3670000 | PA      | $3227537.94   | 0.39%             | 2026-10-26      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| PETROLEUM SARAWAK EXPLO         | Petroleum Sarawak Exploration & Production Sdn Bhd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MY        |     10000000 | PA      | $2289599.11   | 0.28%             | 2031-03-19      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| HUTCHISON WHAM INT 03/33        | Hutchison Whampoa International 03/33 Ltd                                        | CUSIP: 000000000<br>LEI: 254900B7MU61GFDN5511 | Long             | DBT              | CORP              | KY        |       980000 | PA      | $1176245.00   | 0.14%             | 2033-11-24      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| UPL CORP LTD                    | UPL Corp Ltd                                                                     | CUSIP: 000000000<br>LEI: 213800AQLATW4WEEH674 | Long             | DBT              | CORP              | MU        |      3327000 | PA      | $2753134.62   | 0.34%             | 2030-06-16      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| TONGYANGLIFEINSURANCECO         | Tongyang Life Insurance Co Ltd                                                   | CUSIP: 000000000<br>LEI: 9884007L6E9UAWKGCX42 | Long             | DBT              | CORP              | KR        |      3650000 | PA      | $3120750.00   | 0.38%             | 2025-09-22      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| YUZHOU GROUP                    | Yuzhou Group Holdings Co Ltd                                                     | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |      7000000 | PA      | $1077833.26   | 0.13%             | 2025-05-27      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| WESFARMERS LTD                  | Wesfarmers Ltd                                                                   | CUSIP: 000000000<br>LEI: 5493003L32ZX9557ST85 | Long             | DBT              | CORP              | AU        |     23600000 | PA      | $13398321.58  | 1.64%             | 2031-06-23      | Fixed         | 2.55%                 | Yes           |                  2 | On Loan: No      |
| PHILIPPINE GOVERNMENT           | Philippine Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    481500000 | PA      | $9222546.86   | 1.13%             | 2032-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ESIC SUKUK LTD                  | Esic Sukuk Ltd                                                                   | CUSIP: 000000000<br>LEI: 549300TSWFEC4DLPPH77 | Long             | DBT              | CORP              | KY        |      2600000 | PA      | $2525380.00   | 0.31%             | 2024-07-30      | Fixed         | 3.94%                 | Yes           |                  2 | On Loan: No      |
| The Federal Republic of Nigeria | Nigeria Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     14100000 | PA      | $11463187.20  | 1.40%             | 2031-01-21      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BK/NY        | National Australia Bank Ltd/New York                                             | CUSIP: 63254ABD9<br>LEI: 549300E2IPL06NDXMZ63 | Long             | DBT              | NUSS              | AU        |      2000000 | PA      | $1949006.86   | 0.24%             | 2025-06-09      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP            | Westpac Banking Corp                                                             | CUSIP: 000000000<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |       250000 | PA      | $188972.94    | 0.02%             | 2025-04-15      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| China Evergrande Group          | China Evergrande Group                                                           | CUSIP: 000000000<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |     12500000 | PA      | $1287500.00   | 0.16%             | 2025-06-28      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| WEIBO CORP                      | Weibo Corp                                                                       | CUSIP: 948596AE1<br>LEI: 549300Q9ID4640FE0422 | Long             | DBT              | CORP              | KY        |      6000000 | PA      | $5012546.34   | 0.61%             | 2030-07-08      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT            | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 300000000000 | PA      | $22629086.06  | 2.77%             | 2031-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MINOR INTERNATIONAL PCL         | Minor International PCL                                                          | CUSIP: 000000000<br>LEI: 254900T4WB2UF9XPX041 | Long             | DBT              | CORP              | TH        |      5800000 | PA      | $5705460.00   | 0.70%             | 2023-06-29      | Fixed         | 3.10%                 | Yes           |                  2 | On Loan: No      |
| GEELY AUTOMOBILE                | Geely Automobile Holdings Ltd                                                    | CUSIP: 000000000<br>LEI: 549300YS3T1KVQ2SNI84 | Long             | DBT              | CORP              | KY        |      2500000 | PA      | $2353478.40   | 0.29%             | 2024-12-09      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| HDFC BANK LTD                   | HDFC Bank Ltd                                                                    | CUSIP: 40415FAA9<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | DBT              | CORP              | IN        |      7304000 | PA      | $6358257.04   | 0.78%             | 2026-08-25      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| KOREA TREASURY BOND             | Korea Treasury Bond                                                              | CUSIP: 000000000<br>LEI: 549300O0QCVSQGPGDT58 | Long             | DBT              | NUSS              | KR        |  31500000000 | PA      | $21908461.23  | 2.68%             | 2052-03-10      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AUSTRALIAN GOVERNMENT           | Australia Government Bond                                                        | CUSIP: 000000000<br>LEI: 213800J6B7JSBDETCB42 | Long             | DBT              | NUSS              | AU        |      2300000 | PA      | $1559775.55   | 0.19%             | 2029-11-21      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| POWER GRID CORP OF INDIA        | Power Grid Corp of India Ltd                                                     | CUSIP: 000000000<br>LEI: 3358009SHWZ3DZEQ4Z56 | Long             | DBT              | CORP              | IN        |    500000000 | PA      | $6284100.51   | 0.77%             | 2028-04-25      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| PT BANK TABUNGAN NEGARA         | Bank Tabungan Negara Persero Tbk PT                                              | CUSIP: 000000000<br>LEI: 2549009BLYOGL9ZLAW17 | Long             | DBT              | CORP              | ID        |      7300000 | PA      | $6938650.00   | 0.85%             | 2025-01-23      | Fixed         | 4.20%                 | Yes           |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND           | China Government Bond                                                            | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     60000000 | PA      | $9005364.61   | 1.10%             | 2031-05-27      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC          | Standard Chartered PLC                                                           | CUSIP: 853254CS7<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |      7276000 | PA      | $7585975.14   | 0.93%             | 2029-01-09      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| PHILIPPINE GOVERNMENT           | Philippine Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    260310000 | PA      | $5506265.25   | 0.67%             | 2035-09-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT            | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  65000000000 | PA      | $4418525.68   | 0.54%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PERIAMA HOLDINGS LLC/DE         | Periama Holdings LLC/DE                                                          | CUSIP: 000000000<br>LEI: 254900NINXO00BLT2Z47 | Long             | DBT              | CORP              | US        |      3280000 | PA      | $3150112.00   | 0.39%             | 2026-04-19      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| SD IRON & STEEL XINHENG         | Shandong Iron And Steel Xinheng International Co Ltd                             | CUSIP: 000000000<br>LEI: 3003000ZSLLDIQHLEZ07 | Long             | DBT              | CORP              | VG        |      3754000 | PA      | $3725920.08   | 0.46%             | 2023-11-05      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| BUSAN BANK                      | Busan Bank Co Ltd                                                                | CUSIP: 000000000<br>LEI: 98840019Y9P721BO0L96 | Long             | DBT              | CORP              | KR        |     11400000 | PA      | $10417434.00  | 1.27%             | 2026-07-25      | Fixed         | 3.63%                 | Yes           |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA              | Angolan Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |     11000000 | PA      | $11467060.00  | 1.40%             | 2025-11-12      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| BANK MANDIRI PT                 | Bank Mandiri Persero Tbk PT                                                      | CUSIP: 000000000<br>LEI: 549300RSKQN4Z5ZSGH94 | Long             | DBT              | CORP              | ID        |      2198000 | PA      | $2175467.69   | 0.27%             | 2025-05-13      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| ZHENRO PROPERTIES GROUP         | Zhenro Properties Group Ltd                                                      | CUSIP: 000000000<br>LEI: 549300I66TVJEL841P38 | Long             | DBT              | CORP              | KY        |      1000000 | PA      | $87467.86     | 0.01%             | 2024-09-10      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| KYOBO LIFE INSURANCE CO         | Kyobo Life Insurance Co Ltd                                                      | CUSIP: 501555AB2<br>LEI: 988400Y298KYBHWRBS28 | Long             | DBT              | CORP              | KR        |      2155000 | PA      | $2089811.25   | 0.26%             | 2052-06-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| INDIAN RAILWAY FINANCE          | Indian Railway Finance Corp Ltd                                                  | CUSIP: 000000000<br>LEI: 335800F2JHSOGXQEBY56 | Long             | DBT              | CORP              | IN        |     50000000 | PA      | $637615.00    | 0.08%             | 2028-12-04      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| AC ENERGY FIN INTL LTD          | AC Energy Finance International Ltd                                              | CUSIP: 000000000<br>LEI: 549300Z8J2RSBCDEY136 | Long             | DBT              | CORP              | KY        |      6800000 | PA      | $5239400.00   | 0.64%             | 2025-11-25      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| BHARTI AIRTEL INTERNATIO        | Bharti Airtel International Netherlands BV                                       | CUSIP: 000000000<br>LEI: 724500ULW6PWKDAI7I46 | Long             | DBT              | CORP              | NL        |       378000 | PA      | $377572.86    | 0.05%             | 2024-05-20      | Fixed         | 5.35%                 | Yes           |                  2 | On Loan: No      |
| JSW INFRASTRUCTURE              | JSW Infrastructure Ltd                                                           | CUSIP: 46654XAA7<br>LEI: 3358003E3YFK92C9WX80 | Long             | DBT              | CORP              | IN        |      3420000 | PA      | $3029634.57   | 0.37%             | 2029-01-21      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT             | Malaysia Government Bond                                                         | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |      9793000 | PA      | $2178054.00   | 0.27%             | 2040-05-22      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN PENERBIT SBSN        | Perusahaan Penerbit SBSN Indonesia III                                           | CUSIP: 71567PAH3<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |      3770000 | PA      | $3734486.60   | 0.46%             | 2027-03-29      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| SHIMAO GROUP HLDGS LTD          | Shimao Group Holdings Ltd                                                        | CUSIP: 000000000<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |      4400000 | PA      | $991367.21    | 0.12%             | 2024-02-21      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| GOVERNMENT OF UKRAINE           | Ukraine Government Bond                                                          | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    210000000 | PA      | $4094262.81   | 0.50%             | 2025-02-26      | Fixed         | 15.84%                | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT            | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 200000000000 | PA      | $14988125.42  | 1.83%             | 2029-03-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SHINHAN BANK                    | Shinhan Bank Co Ltd                                                              | CUSIP: 000000000<br>LEI: 5493003P813VL21KG928 | Long             | DBT              | CORP              | KR        |      5900000 | PA      | $5588775.00   | 0.68%             | 2028-03-26      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT              | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     10600000 | PA      | $2096001.60   | 0.26%             | 2034-09-25      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Republic of Iraq                | Iraq International Bond                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | IQ        |      3125000 | PA      | $2891937.50   | 0.35%             | 2028-01-15      | Fixed         | 5.80%                 | Yes           |                  2 | On Loan: No      |
| ROYAL CAPITAL BV                | Royal Capital BV                                                                 | CUSIP: 000000000<br>LEI: 72450057BWJ6BYW0TI63 | Long             | DBT              | CORP              | NL        |      7000000 | PA      | $6825000.00   | 0.84%             | 2024-05-05      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Queensland Treasury Corp        | Queensland Treasury Corp                                                         | CUSIP: 000000000<br>LEI: 98INKCEEHOU5YJS0HQ88 | Long             | DBT              | NUSS              | AU        |     22000000 | PA      | $15585029.69  | 1.91%             | 2023-07-21      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| OIL & GAS HOLDING               | Oil and Gas Holding Co BSCC/The                                                  | CUSIP: 67778NAA6<br>LEI: 549300OBH16L6TS6IW50 | Long             | DBT              | CORP              | BH        |      2500000 | PA      | $2595430.00   | 0.32%             | 2027-10-25      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| SD IRON & STEEL XINHENG         | Shandong Iron And Steel Xinheng International Co Ltd                             | CUSIP: 000000000<br>LEI: 3003000ZSLLDIQHLEZ07 | Long             | DBT              | CORP              | VG        |      2040000 | PA      | $1953300.00   | 0.24%             | 2024-07-28      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| INDIA GOVERNMENT BOND           | India Government Bond                                                            | CUSIP: 000000000<br>LEI: 335800IV7VCDQGIOI391 | Long             | DBT              | NUSS              | IN        |    500000000 | PA      | $5486012.60   | 0.67%             | 2034-09-16      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| IIFL FINANCE LTD                | IIFL Finance Ltd                                                                 | CUSIP: 000000000<br>LEI: 335800CZ46UJRS34JR78 | Long             | DBT              | CORP              | IN        |      5732000 | PA      | $5646020.00   | 0.69%             | 2023-04-20      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Republic of Indonesia           | Indonesia Government International Bond                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |      9880000 | PA      | $12819300.00  | 1.57%             | 2035-10-12      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| GLOBE TELECOM INC               | Globe Telecom Inc                                                                | CUSIP: 000000000<br>LEI: 254900GPWI1816YIM923 | Long             | DBT              | CORP              | PH        |      4097000 | PA      | $3768010.90   | 0.46%             | 2026-08-02      | Fixed         | 4.20%                 | Yes           |                  2 | On Loan: No      |
| ICICI Bank Ltd                  | ICICI Bank Ltd                                                                   | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | DBT              | CORP              | IN        |    250000000 | PA      | $3113986.24   | 0.38%             | 2024-08-06      | Fixed         | 9.15%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade          | US ULTRA BOND CBT MAR23                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |          311 | NC      | $1832090.11   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                  | ICICI Bank Ltd                                                                   | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | DBT              | CORP              | IN        |    100000000 | PA      | $1216596.70   | 0.15%             | 2023-10-07      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| DEVT BANK OF MONGOLIA           | Development Bank of Mongolia LLC                                                 | CUSIP: 000000000<br>LEI: 254900HRWK3OKXS9UW60 | Long             | DBT              | NUSS              | MN        |      7200000 | PA      | $6945336.00   | 0.85%             | 2023-10-23      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| CAS CAPITAL NO1 LTD             | CAS Capital No 1 Ltd                                                             | CUSIP: 000000000<br>LEI: 254900REJZW5L9QRTD85 | Long             | DBT              | CORP              | VG        |      7000000 | PA      | $6170500.00   | 0.76%             | 2026-07-12      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| TENCENT HOLDINGS LTD            | Tencent Holdings Ltd                                                             | CUSIP: 88032XAU8<br>LEI: 254900N4SLUMW4XUYY11 | Long             | DBT              | CORP              | KY        |      3300000 | PA      | $2777891.39   | 0.34%             | 2030-06-03      | Fixed         | 2.39%                 | Yes           |                  2 | On Loan: No      |
| PT BANK RAKYAT INDONESIA        | Bank Rakyat Indonesia Persero Tbk PT                                             | CUSIP: 000000000<br>LEI: 254900HB6S4B12GBNP64 | Long             | DBT              | CORP              | ID        |  10000000000 | PA      | $683255.50    | 0.08%             | 2024-08-24      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LOGAN GROUP CO LTD              | Logan Group Co Ltd                                                               | CUSIP: 000000000<br>LEI: 549300NJ0E6Q0S1VOG90 | Long             | DBT              | CORP              | KY        |      7800000 | PA      | $2301178.62   | 0.28%             | 2023-07-16      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Medco Oak Tree Pte Ltd          | Medco Oak Tree Pte Ltd                                                           | CUSIP: 58405FAA3<br>LEI: 254900AU06KP3JTGZL51 | Long             | DBT              | CORP              | SG        |      4565000 | PA      | $4569565.00   | 0.56%             | 2026-05-14      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT            | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 240000000000 | PA      | $17360693.80  | 2.12%             | 2029-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| NTPC LTD                        | NTPC Ltd                                                                         | CUSIP: 000000000<br>LEI: 335800Q4TRGJXNLVMB81 | Long             | DBT              | CORP              | IN        |    250000000 | PA      | $3091859.48   | 0.38%             | 2026-05-27      | Fixed         | 8.10%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT             | Malaysia Government Bond                                                         | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     17500000 | PA      | $4156220.07   | 0.51%             | 2028-06-15      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS            | Country Garden Holdings Co Ltd                                                   | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |      2522000 | PA      | $1462069.10   | 0.18%             | 2031-01-12      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| SHUI ON DEVELOPMENT HLDG        | Shui On Development Holding Ltd                                                  | CUSIP: 000000000<br>LEI: 3003005J4J3G9CZFDK52 | Long             | DBT              | CORP              | KY        |      2000000 | PA      | $1811000.00   | 0.22%             | 2025-03-03      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MALAYSIA INVESTMNT ISSUE        | Malaysia Government Investment Issue                                             | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |      8200000 | PA      | $1797113.69   | 0.22%             | 2036-07-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| ADANI ELECTRICITY MUMBAI        | Adani Electricity Mumbai Ltd                                                     | CUSIP: 00654GAA1<br>LEI: 335800AIC1B5EBFVUC38 | Long             | DBT              | CORP              | IN        |      3702000 | PA      | $2761819.68   | 0.34%             | 2030-02-12      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL        | Brazil Notas do Tesouro Nacional Serie F                                         | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    128000000 | PA      | $22283946.97  | 2.73%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| XIAOMI BEST TIME INTL           | Xiaomi Best Time International Ltd                                               | CUSIP: 98422HAC0<br>LEI: 254900IGJCVEY8WNJT74 | Long             | DBT              | CORP              | HK        |      3180000 | PA      | $2499448.71   | 0.31%             | 2031-07-14      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                   | PURCHASED INR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | IN        |            1 | NC      | $-5619.76     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos             | Petroleos Mexicanos                                                              | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    145000000 | PA      | $7072896.25   | 0.87%             | 2024-09-12      | Fixed         | 7.19%                 | Yes           |                  2 | On Loan: No      |
| TNB GLOBAL VENTURES CAP         | TNB Global Ventures Capital Bhd                                                  | CUSIP: 000000000<br>LEI: 5493004U8XEGPFWIBZ14 | Long             | DBT              | CORP              | MY        |      7000000 | PA      | $6550390.00   | 0.80%             | 2026-10-19      | Fixed         | 3.24%                 | Yes           |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP         | Australia & New Zealand Banking Group Ltd                                        | CUSIP: 000000000<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |       900000 | PA      | $636485.64    | 0.08%             | 2032-08-12      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| Standard Chartered Bank         | PURCHASED USD / SOLD MYR                                                         | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | US        |            1 | NC      | $-618554.58   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| INDIA GOVERNMENT BOND           | India Government Bond                                                            | CUSIP: 000000000<br>LEI: 335800IV7VCDQGIOI391 | Long             | DBT              | NUSS              | IN        |    325000000 | PA      | $3898391.08   | 0.48%             | 2027-05-15      | Fixed         | 6.79%                 | No            |                  2 | On Loan: No      |
| HSBC Bank USA N.A.              | PURCHASED USD / SOLD PHP                                                         | CUSIP: 000000000<br>LEI: 1IE8VN30JCEQV1H4R804 | N/A              | DFE              |  | US        |            1 | NC      | $-117518.34   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS            | Country Garden Holdings Co Ltd                                                   | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |      4161000 | PA      | $3162360.00   | 0.39%             | 2026-04-08      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Megaworld Corp                  | Megaworld Corp                                                                   | CUSIP: 000000000<br>LEI: 254900P57OOZ5AY5C521 | Long             | DBT              | CORP              | PH        |      9086000 | PA      | $8954253.00   | 1.10%             | 2023-04-17      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| ADANI GREEN ENERGY UP           | Adani Green Energy UP Ltd / Prayatna Developers Pvt Ltd / Parampujya Solar Energ | CUSIP: 00654AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | IN        |      5230000 | PA      | $4883310.36   | 0.60%             | 2024-12-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL PLC                  | Prudential PLC                                                                   | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | DBT              | CORP              | GB        |      3600000 | PA      | $3117722.40   | 0.38%             | 2033-11-03      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| KOOKMIN BANK                    | Kookmin Bank                                                                     | CUSIP: 50050GAN8<br>LEI: 549300XXMOJSIW8P4769 | Long             | DBT              | CORP              | KR        |      2000000 | PA      | $1633577.72   | 0.20%             | 2030-11-04      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MGM CHINA HOLDINGS LTD          | MGM China Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |      3500000 | PA      | $3312050.00   | 0.41%             | 2026-05-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Trade          | US 10YR NOTE (CBT)MAR23                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -1148 | NC      | $-1800731.48  | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| SAUDI ELEC GLOBAL SUKUK         | Saudi Electricity Global Sukuk Co 3                                              | CUSIP: 000000000<br>LEI: 549300BJ6IA5S2UFVN71 | Long             | DBT              | CORP              | KY        |      2976000 | PA      | $3132168.58   | 0.38%             | 2044-04-08      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SHIMAO GROUP HOLDINGS LT        | Shimao Group Holdings Ltd                                                        | CUSIP: 000000000<br>LEI: 254900WTJ6B5CU69ZD26 | Long             | DBT              | CORP              | KY        |      2800000 | PA      | $648604.49    | 0.08%             | 2026-07-15      | Fixed         | 5.60%                 | Yes           |                  2 | On Loan: No      |
| Reliance Industries Ltd         | Reliance Industries Ltd                                                          | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | DBT              | CORP              | IN        |      4800000 | PA      | $4707353.28   | 0.58%             | 2025-01-28      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| DBS GROUP HOLDINGS LTD          | DBS Group Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | DBT              | CORP              | SG        |      3600000 | PA      | $3401435.38   | 0.42%             | 2025-02-27      | Fixed         | 3.30%                 | Yes           |                  2 | On Loan: No      |
| QBE INSURANCE GROUP LTD         | QBE Insurance Group Ltd                                                          | CUSIP: 74728GAE0<br>LEI: 549300D2FBW76FPUSG65 | Long             | DBT              | CORP              | AU        |      4000000 | PA      | $3940000.00   | 0.48%             | 2025-05-12      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| INDIA GOVERNMENT BOND           | India Government Bond                                                            | CUSIP: 000000000<br>LEI: 335800IV7VCDQGIOI391 | Long             | DBT              | NUSS              | IN        |   1340000000 | PA      | $16296965.22  | 1.99%             | 2029-01-14      | Fixed         | 7.26%                 | No            |                  2 | On Loan: No      |
| AIA GROUP LTD                   | AIA Group Ltd                                                                    | CUSIP: 00131LAN5<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | DBT              | CORP              | HK        |      5000000 | PA      | $5206352.75   | 0.64%             | 2027-10-25      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| HDFC BANK LTD                   | HDFC Bank Ltd                                                                    | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | DBT              | CORP              | IN        |    750000000 | PA      | $9236455.46   | 1.13%             | 2026-09-21      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD           | Mineral Resources Ltd                                                            | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |      6850000 | PA      | $7013030.00   | 0.86%             | 2027-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ENN CLEAN ENERGY                | ENN Clean Energy International Investment Ltd                                    | CUSIP: 268733AA0<br>LEI: 3003009YZ3S5V395NR77 | Long             | DBT              | CORP              | VG        |      4526000 | PA      | $4122248.80   | 0.50%             | 2026-05-12      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT            | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 271570000000 | PA      | $17829412.93  | 2.18%             | 2028-05-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HUARONG FINANCE II              | Huarong Finance II Co Ltd                                                        | CUSIP: 000000000<br>LEI: 549300BHVD63HE2GHX17 | Long             | DBT              | CORP              | VG        |      6700000 | PA      | $6495878.94   | 0.79%             | 2025-01-16      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| REC LIMITED                     | REC Ltd                                                                          | CUSIP: 000000000<br>LEI: 335800B4YRYWAMIJZ374 | Long             | DBT              | CORP              | IN        |    150000000 | PA      | $1839464.17   | 0.23%             | 2024-06-25      | Fixed         | 8.10%                 | No            |                  2 | On Loan: No      |
| Standard Chartered Bank         | PURCHASED THB / SOLD USD                                                         | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | TH        |            1 | NC      | $1247035.59   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT         | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    469000000 | PA      | $24682742.36  | 3.02%             | 2029-05-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD        | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |      5714000 | PA      | $1621229.73   | 0.20%             | 2024-10-20      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Standard Chartered Bank         | PURCHASED SGD / SOLD USD                                                         | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              |  | SG        |            1 | NC      | $1052225.25   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND           | China Government Bond                                                            | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |     80000000 | PA      | $11664911.06  | 1.43%             | 2030-05-21      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| Santos Finance Ltd              | Santos Finance Ltd                                                               | CUSIP: 000000000<br>LEI: 213800BKUBSWG53XNS94 | Long             | DBT              | CORP              | AU        |      9100000 | PA      | $8496033.00   | 1.04%             | 2027-09-14      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| CA MAGNUM HOLDINGS              | CA Magnum Holdings                                                               | CUSIP: 12674CAA1<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | CORP              | MU        |       800000 | PA      | $744000.00    | 0.09%             | 2026-10-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AXIS BANK GIFT CITY             | Axis Bank Ltd/Gift City                                                          | CUSIP: 05464XAA3<br>LEI: 549300HVNWMJPOFVNI41 | Long             | DBT              | CORP              | IN        |     10900000 | PA      | $9646251.37   | 1.18%             | 2026-09-08      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| PHILIPPINE GOVERNMENT           | Philippine Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    435710000 | PA      | $9978026.52   | 1.22%             | 2034-11-05      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES         | Philippine Government International Bond                                         | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |      2570000 | PA      | $2255581.86   | 0.28%             | 2047-03-29      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD        | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |       690000 | PA      | $201825.00    | 0.02%             | 2024-04-26      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Queensland Treasury Corp        | Queensland Treasury Corp                                                         | CUSIP: 000000000<br>LEI: 98INKCEEHOU5YJS0HQ88 | Long             | DBT              | NUSS              | AU        |       300000 | PA      | $205189.99    | 0.03%             | 2030-08-21      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| HUARONG FINANCE II              | Huarong Finance II Co Ltd                                                        | CUSIP: 000000000<br>LEI: 549300BHVD63HE2GHX17 | Long             | DBT              | CORP              | VG        |      2400000 | PA      | $2271624.89   | 0.28%             | 2025-11-19      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| HUTAMA KARYA PERSERO PT         | Hutama Karya Persero PT                                                          | CUSIP: 69375MAA1<br>LEI: 2549009QN3GU8QCI7Q61 | Long             | DBT              | CORP              | ID        |      3766000 | PA      | $3446918.49   | 0.42%             | 2030-05-11      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRANSURBAN QLD FINANCE          | Transurban Queensland Finance Pty Ltd                                            | CUSIP: 000000000<br>LEI: 549300RSN9SFNT54IZ82 | Long             | DBT              | CORP              | AU        |       410000 | PA      | $237323.97    | 0.03%             | 2031-08-05      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GMR HYDERABAD INTERNATIO        | GMR Hyderabad International Airport Ltd                                          | CUSIP: 36256WAC8<br>LEI: 335800NSPGIN89SVOU83 | Long             | DBT              | CORP              | IN        |      1200000 | PA      | $1113600.00   | 0.14%             | 2026-02-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW S WALES TREASURY CRP        | New South Wales Treasury Corp                                                    | CUSIP: 000000000<br>LEI: TC7LRO17HPNPLTAV0H77 | Long             | DBT              | NUSS              | AU        |     13500000 | PA      | $8970358.13   | 1.10%             | 2030-02-20      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| INDIA GOVERNMENT BOND           | India Government Bond                                                            | CUSIP: 000000000<br>LEI: 335800IV7VCDQGIOI391 | Long             | DBT              | NUSS              | IN        |    300000000 | PA      | $3777925.45   | 0.46%             | 2026-11-24      | Fixed         | 8.15%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD        | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |      3941000 | PA      | $710952.03    | 0.09%             | 2023-11-12      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| GC TREASURY CENTRE CO           | GC Treasury Center Co Ltd                                                        | CUSIP: 36830BAD7<br>LEI: 549300LUFQBC2EQNAR40 | Long             | DBT              | CORP              | TH        |      4209000 | PA      | $3869078.47   | 0.47%             | 2032-03-30      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| SK HYNIX INC                    | SK Hynix Inc                                                                     | CUSIP: 78392BAF4<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |      5400000 | PA      | $5476317.12   | 0.67%             | 2033-01-17      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NATL HIGHWAYS AUTH OF IN        | National Highways Authority of India                                             | CUSIP: 000000000<br>LEI: 335800P7TS317PBS7B04 | Long             | DBT              | NUSS              | IN        |    150000000 | PA      | $1838290.59   | 0.22%             | 2029-09-13      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| DP WORLD PLC                    | DP World Ltd/United Arab Emirates                                                | CUSIP: 000000000<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |      2700000 | PA      | $3051712.80   | 0.37%             | 2037-07-02      | Fixed         | 6.85%                 | Yes           |                  2 | On Loan: No      |
| EMECO PTY LTD                   | Emeco Pty Ltd                                                                    | CUSIP: 000000000<br>LEI: 549300487GWW3BZDSX84 | Long             | DBT              | CORP              | AU        |      1000000 | PA      | $657385.63    | 0.08%             | 2026-07-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ICTSI Treasury BV               | ICTSI Treasury BV                                                                | CUSIP: 000000000<br>LEI: 724500OT4U4QE3XWJH54 | Long             | DBT              | CORP              | NL        |      7000000 | PA      | $6944700.00   | 0.85%             | 2025-09-17      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| IND & COMM BK OF CHINA          | Industrial & Commercial Bank of China Ltd                                        | CUSIP: 000000000<br>LEI: 5493002ERZU2K9PZDL40 | Long             | DBT              | CORP              | CN        |     50000000 | PA      | $7503138.47   | 0.92%             | 2030-11-16      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| INDIA GOVERNMENT BOND           | India Government Bond                                                            | CUSIP: 000000000<br>LEI: 335800IV7VCDQGIOI391 | Long             | DBT              | NUSS              | IN        |      9590000 | PA      | $128811.83    | 0.02%             | 2030-09-30      | Fixed         | 9.20%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT            | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  98500000000 | PA      | $7439345.56   | 0.91%             | 2039-04-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| POWER FINANCE CORP LTD          | Power Finance Corp Ltd                                                           | CUSIP: 73928RAA4<br>LEI: 3358003Q6D9LIJJZ1614 | Long             | DBT              | CORP              | IN        |      7112000 | PA      | $7288164.24   | 0.89%             | 2028-12-06      | Fixed         | 6.15%                 | Yes           |                  2 | On Loan: No      |
| Power Finance Corp Ltd          | Power Finance Corp Ltd                                                           | CUSIP: 000000000<br>LEI: 3358003Q6D9LIJJZ1614 | Long             | DBT              | CORP              | IN        |    400000000 | PA      | $4946855.94   | 0.61%             | 2024-12-28      | Fixed         | 8.65%                 | No            |                  2 | On Loan: No      |
| TIMES CHINA HLDG LTD            | Times China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 2549000KTINB9ZPZP710 | Long             | DBT              | CORP              | KY        |      7100000 | PA      | $1360578.89   | 0.17%             | 2026-03-22      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| NEW METRO GLOBAL LTD            | New Metro Global Ltd                                                             | CUSIP: 000000000<br>LEI: 549300HJRNTCANEH0D47 | Long             | DBT              | CORP              | VG        |      1416000 | PA      | $1205270.88   | 0.15%             | 2024-12-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND           | China Government Bond                                                            | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |    110000000 | PA      | $16865597.64  | 2.06%             | 2030-11-19      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| HANWHA TOTALENERGIES            | Hanwha Totalenergies Petrochemical Co Ltd                                        | CUSIP: 000000000<br>LEI: 988400G0X7SXITD3EI81 | Long             | DBT              | CORP              | KR        |      3300000 | PA      | $3247364.24   | 0.40%             | 2024-01-23      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| KINGDOM OF JORDAN               | Jordan Government International Bond                                             | CUSIP: 41809JAA3<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |      9502000 | PA      | $9812715.40   | 1.20%             | 2028-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GMR HYDERABAD INTERNATIO        | GMR Hyderabad International Airport Ltd                                          | CUSIP: 36256WAB0<br>LEI: 335800NSPGIN89SVOU83 | Long             | DBT              | CORP              | IN        |      4173000 | PA      | $4120837.50   | 0.50%             | 2024-04-10      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT            | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  21000000000 | PA      | $1383800.53   | 0.17%             | 2031-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AUST & NZ BANKING GRP/UK        | Australia & New Zealand Banking Group Ltd/United Kingdom                         | CUSIP: 000000000<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |      6000000 | PA      | $6051000.00   | 0.74%             | 2026-06-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT         | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     50000000 | PA      | $2661320.73   | 0.33%             | 2024-12-05      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Citibank N.A.                   | PURCHASED KRW / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | KR        |            1 | NC      | $94219.76     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN         | Pakistan Government International Bond                                           | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |     18129000 | PA      | $7614180.00   | 0.93%             | 2027-12-05      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CENTRAL HUIJIN INV              | Central Huijin Investment Ltd                                                    | CUSIP: 000000000<br>LEI: 300300XPIJ4S6G4HP325 | Long             | DBT              | CORP              | CN        |     30000000 | PA      | $4443591.50   | 0.54%             | 2025-03-13      | Fixed         | 3.02%                 | No            |                  2 | On Loan: No      |
| IND & COMM BK OF CHINA          | Industrial & Commercial Bank of China Ltd                                        | CUSIP: 000000000<br>LEI: 5493002ERZU2K9PZDL40 | Long             | DBT              | CORP              | CN        |     30000000 | PA      | $4346626.36   | 0.53%             | 2032-01-20      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| HONG KONG                       | Hong Kong Government International Bond                                          | CUSIP: 43858AAJ9<br>LEI: 549300DSMAD69T7GGN13 | Long             | DBT              | NUSS              | HK        |      1660000 | PA      | $1853124.08   | 0.23%             | 2053-01-11      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade          | US 5YR NOTE (CBT) MAR23                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |           99 | NC      | $125151.34    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HUTCHISON WHAMPOA FIN           | Hutchison Whampoa Finance CI Ltd                                                 | CUSIP: 000000000<br>LEI: 254900R3BZU6S8ZU0L15 | Long             | DBT              | CORP              | KY        |     15500000 | PA      | $17235770.14  | 2.11%             | 2027-08-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| VANKE REAL ESTATE HK            | Vanke Real Estate Hong Kong Co Ltd                                               | CUSIP: 000000000<br>LEI: 25490078APAXS5NZGF08 | Long             | DBT              | CORP              | HK        |      1840000 | PA      | $1536216.00   | 0.19%             | 2029-11-12      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| MAHARASTRA                      | State of Maharashtra India                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | IN        |    300000000 | PA      | $3613132.83   | 0.44%             | 2027-08-09      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| LOGAN GROUP CO LTD              | Logan Group Co Ltd                                                               | CUSIP: 000000000<br>LEI: 549300NJ0E6Q0S1VOG90 | Long             | DBT              | CORP              | KY        |      7800000 | PA      | $2301149.14   | 0.28%             | 2025-10-19      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE           | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |      3500000 | PA      | $3137943.17   | 0.38%             | 2028-07-21      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| PAKISTAN GLOBAL SUKUK           | Pakistan Global Sukuk Programme Co Ltd/The                                       | CUSIP: 69583PAA2<br>LEI: 213800X5OY6CVYNY1M70 | Long             | DBT              | CORP              | PK        |      6245000 | PA      | $3778225.00   | 0.46%             | 2029-01-31      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA        | Development Bank of Kazakhstan JSC                                               | CUSIP: 25159XAC7<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | CORP              | KZ        |   3265000000 | PA      | $5744579.33   | 0.70%             | 2026-05-06      | Fixed         | 10.95%                | No            |                  2 | On Loan: No      |
| UBS AG                          | PURCHASED CNH / SOLD USD                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | CN        |            1 | NC      | $18694.88     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ADANI TRANS STEP-ONE LTD        | Adani Transmission Step-One Ltd                                                  | CUSIP: 000000000<br>LEI: 335800Z8CGS7O7D72N41 | Long             | DBT              | CORP              | IN        |      1550000 | PA      | $1246400.73   | 0.15%             | 2026-08-03      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| TREASURY CORP VICTORIA          | Treasury Corp of Victoria                                                        | CUSIP: 000000000<br>LEI: 549300ZJM7BQW1P9UV75 | Long             | DBT              | NUSS              | AU        |      5000000 | PA      | $2427875.03   | 0.30%             | 2040-11-20      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd                 | Sands China Ltd                                                                  | CUSIP: 80007RAF2<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |      4900000 | PA      | $4871064.03   | 0.60%             | 2025-08-08      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| UBS AG                          | PURCHASED IDR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | ID        |            1 | NC      | $71591.37     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT            | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  44000000000 | PA      | $3077182.12   | 0.38%             | 2040-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| KOREA TREASURY BOND             | Korea Treasury Bond                                                              | CUSIP: 000000000<br>LEI: 549300O0QCVSQGPGDT58 | Long             | DBT              | NUSS              | KR        |  14500000000 | PA      | $11670493.45  | 1.43%             | 2027-09-10      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| PERUSAHAAN LISTRIK NEGAR        | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara                        | CUSIP: 000000000<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | CORP              | ID        |  12000000000 | PA      | $808541.68    | 0.10%             | 2023-07-05      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LONGFOR HOLDINGS LTD            | Longfor Group Holdings Ltd                                                       | CUSIP: 000000000<br>LEI: 254900UJX27B2F1JYR13 | Long             | DBT              | CORP              | KY        |      5400000 | PA      | $4505602.81   | 0.55%             | 2029-09-16      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| VENA ENERGY CAP PTE LTD         | Vena Energy Capital Pte Ltd                                                      | CUSIP: 000000000<br>LEI: 254900WSETM7TQMYGS40 | Long             | DBT              | CORP              | SG        |      7000000 | PA      | $6515427.31   | 0.80%             | 2025-02-26      | Fixed         | 3.13%                 | Yes           |                  2 | On Loan: No      |
| CENTRAL CHN REAL ESTATE         | Central China Real Estate Ltd                                                    | CUSIP: 000000000<br>LEI: 549300JDML9PYG0CIJ22 | Long             | DBT              | CORP              | KY        |       800000 | PA      | $276427.49    | 0.03%             | 2023-11-07      | Fixed         | 7.90%                 | Yes           |                  2 | On Loan: No      |
| CHINA OIL & GAS GROUP           | China Oil & Gas Group Ltd                                                        | CUSIP: 000000000<br>LEI: 52990063CVI7GDV4JZ06 | Long             | DBT              | CORP              | BM        |      3595000 | PA      | $3207099.50   | 0.39%             | 2026-06-30      | Fixed         | 4.70%                 | Yes           |                  2 | On Loan: No      |
| GLP PTE LTD                     | GLP Pte Ltd                                                                      | CUSIP: 000000000<br>LEI: 254900PC2NNG9BLIJO15 | Long             | DBT              | CORP              | SG        |      4538000 | PA      | $3063150.00   | 0.37%             | 2026-05-17      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY        | Uruguay Government International Bond                                            | CUSIP: 917288BM3<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    674024434 | PA      | $15647649.34  | 1.91%             | 2031-05-21      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CNAC HK FINBRIDGE CO LTD        | CNAC HK Finbridge Co Ltd                                                         | CUSIP: 000000000<br>LEI: 549300US1UQ7R7WABI28 | Long             | DBT              | CORP              | HK        |      3320000 | PA      | $3280226.40   | 0.40%             | 2028-03-14      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS          | Galaxy Pipeline Assets Bidco Ltd                                                 | CUSIP: 36321PAB6<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |      7237000 | PA      | $5910853.55   | 0.72%             | 2036-03-31      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA         | Hyundai Capital America                                                          | CUSIP: 44891CBL6<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |      5100000 | PA      | $5360297.27   | 0.66%             | 2030-04-08      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN         | Pakistan Government International Bond                                           | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |      2355000 | PA      | $979209.00    | 0.12%             | 2031-04-08      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| NEW S WALES TREASURY CRP        | New South Wales Treasury Corp                                                    | CUSIP: 000000000<br>LEI: TC7LRO17HPNPLTAV0H77 | Long             | DBT              | NUSS              | AU        |      7500000 | PA      | $5356630.63   | 0.66%             | 2026-05-20      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| ZHENRO PROPERTIES GROUP         | Zhenro Properties Group Ltd                                                      | CUSIP: 000000000<br>LEI: 549300I66TVJEL841P38 | Long             | DBT              | CORP              | KY        |      4000000 | PA      | $349118.60    | 0.04%             | 2024-04-14      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| SK HYNIX INC                    | SK Hynix Inc                                                                     | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |      7000000 | PA      | $5304813.08   | 0.65%             | 2031-01-19      | Fixed         | 2.38%                 | Yes           |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT             | Malaysia Government Bond                                                         | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     46000000 | PA      | $9877925.96   | 1.21%             | 2031-04-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK             | Bangkok Bank PCL/Hong Kong                                                       | CUSIP: 000000000<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |      1200000 | PA      | $1362036.79   | 0.17%             | 2029-03-15      | Fixed         | 9.03%                 | Yes           |                  2 | On Loan: No      |
| TITULOS DE TESORERIA            | Colombian TES                                                                    | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  28000000000 | PA      | $5864235.09   | 0.72%             | 2024-07-24      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| LANDWIRTSCH. RENTENBANK         | Landwirtschaftliche Rentenbank                                                   | CUSIP: 000000000<br>LEI: 529900Z3J0N6S0F7CT25 | Long             | DBT              | CORP              | DE        |     10000000 | PA      | $7136722.05   | 0.87%             | 2024-04-08      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| INDIA GREEN POWER HOLD          | India Green Power Holdings                                                       | CUSIP: 45410LAA0<br>LEI: 254900I7N0GT4VVL6V29 | Long             | DBT              | CORP              | MU        |      7072000 | PA      | $6159650.62   | 0.75%             | 2027-02-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL CHN REAL ESTATE         | Central China Real Estate Ltd                                                    | CUSIP: 000000000<br>LEI: 549300JDML9PYG0CIJ22 | Long             | DBT              | CORP              | KY        |      3500000 | PA      | $1136878.37   | 0.14%             | 2024-05-24      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Wynn Macau Ltd                  | Wynn Macau Ltd                                                                   | CUSIP: 000000000<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |      6000000 | PA      | $5370000.00   | 0.66%             | 2027-10-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SINGAPORE GOVERNMENT            | Singapore Government Bond                                                        | CUSIP: 000000000<br>LEI: 549300ZSV6VOGFH1ER70 | Long             | DBT              | NUSS              | SG        |     11800000 | PA      | $8964335.52   | 1.10%             | 2024-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                   | PURCHASED USD / SOLD PHP                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-196000.80   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| WANDA PROPERTIES GLOBA          | Wanda Properties Global Co Ltd                                                   | CUSIP: 000000000<br>LEI: 549300XK04MG2KHWVP36 | Long             | DBT              | CORP              | VG        |      2700000 | PA      | $2659616.83   | 0.33%             | 2025-01-20      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Power Finance Corp Ltd          | Power Finance Corp Ltd                                                           | CUSIP: 000000000<br>LEI: 3358003Q6D9LIJJZ1614 | Long             | DBT              | CORP              | IN        |    250000000 | PA      | $3086743.08   | 0.38%             | 2025-04-19      | Fixed         | 8.39%                 | No            |                  2 | On Loan: No      |
| INDIABULLS HOUSING FIN          | Indiabulls Housing Finance Ltd                                                   | CUSIP: 000000000<br>LEI: 335800A2A3G53ZQZTQ21 | Long             | DBT              | CORP              | IN        |    100000000 | PA      | $1152423.42   | 0.14%             | 2026-04-29      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SHRIRAM FINANCE LTD             | Shriram Finance Ltd                                                              | CUSIP: 825547AD4<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | CORP              | IN        |      8000000 | PA      | $7710000.00   | 0.94%             | 2024-03-13      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN         | Pakistan Government International Bond                                           | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |      5209000 | PA      | $2703491.84   | 0.33%             | 2025-09-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| KRUNG THAI BANK/CAYMAN          | Krung Thai Bank PCL/Cayman Islands                                               | CUSIP: 000000000<br>LEI: 54930007ZQMYCRFQGE36 | Long             | DBT              | CORP              | TH        |      7000000 | PA      | $6468000.00   | 0.79%             | 2026-03-25      | Fixed         | 4.40%                 | Yes           |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT            | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 150000000000 | PA      | $11154036.02  | 1.36%             | 2036-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CENTRAL CHN REAL ESTATE         | Central China Real Estate Ltd                                                    | CUSIP: 000000000<br>LEI: 549300JDML9PYG0CIJ22 | Long             | DBT              | CORP              | KY        |       200000 | PA      | $89728.69     | 0.01%             | 2023-04-24      | Fixed         | 7.25%                 | Yes           |                  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        |      8970761 | NS      | $8970760.96   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank N.A.                   | PURCHASED USD / SOLD PHP                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-23646.11    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT             | Malaysia Government Bond                                                         | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     14800000 | PA      | $3317392.72   | 0.41%             | 2050-06-15      | Fixed         | 4.07%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT             | Malaysia Government Bond                                                         | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     16500000 | PA      | $4125821.95   | 0.50%             | 2042-10-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD        | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |       700000 | PA      | $126279.22    | 0.02%             | 2023-09-28      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| CIMB Group Holdings Bhd         | CIMB Group Holdings Bhd                                                          | CUSIP: 000000000<br>LEI: 549300FYDN5UD7USZW18 | Long             | DBT              | CORP              | MY        |      5000000 | PA      | $1178934.07   | 0.14%             | 2028-03-29      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN         | Pakistan Government International Bond                                           | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |      7495000 | PA      | $4256710.30   | 0.52%             | 2024-04-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| SUNAC CHINA HOLDINGS LTD        | Sunac China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300OLARYHDXP3WK18 | Long             | DBT              | CORP              | KY        |      1786000 | PA      | $522405.00    | 0.06%             | 2025-07-09      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| MALAYAN BANKING BHD             | Malayan Banking Bhd                                                              | CUSIP: 000000000<br>LEI: 5493004OT3TOY404V310 | Long             | DBT              | CORP              | MY        |      5000000 | PA      | $1168844.87   | 0.14%             | 2024-09-25      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| ZHONGSHENG GROUP                | Zhongsheng Group Holdings Ltd                                                    | CUSIP: 000000000<br>LEI: 3003005VYMEBAJNJ2Y26 | Long             | DBT              | CORP              | KY        |      4156000 | PA      | $3758160.29   | 0.46%             | 2026-01-13      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| LLPL Capital Pte Ltd            | LLPL Capital Pte Ltd                                                             | CUSIP: 50201PAA4<br>LEI: 254900VXZ8FXTUQNON22 | Long             | DBT              | CORP              | SG        |      5225850 | PA      | $4846708.57   | 0.59%             | 2039-02-04      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                   | PURCHASED USD / SOLD INR                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-20218.50    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MANILA WATER CO INC             | Manila Water Co Inc                                                              | CUSIP: 000000000<br>LEI: 5493004SJIK0GOUIZM45 | Long             | DBT              | CORP              | PH        |     11000000 | PA      | $9658000.00   | 1.18%             | 2030-07-30      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| QANTAS AIRWAYS LTD              | Qantas Airways Ltd                                                               | CUSIP: 000000000<br>LEI: YLXNW6TI6QSK1H8H0N82 | Long             | DBT              | CORP              | AU        |      2270000 | PA      | $1510088.59   | 0.18%             | 2030-09-09      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| GLP CHINA HOLDINGS LTD          | GLP China Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 254900C6X2D3TGF2CO98 | Long             | DBT              | CORP              | HK        |      3962000 | PA      | $3113735.64   | 0.38%             | 2026-03-29      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| MALDIVES SUKUK ISSUANCE         | Maldives Sukuk Issuance Ltd                                                      | CUSIP: 000000000<br>LEI: 549300RPRH3HJCZQP933 | Long             | DBT              | NUSS              | KY        |      2200000 | PA      | $1888039.36   | 0.23%             | 2026-04-08      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Trade          | US 5YR NOTE (CBT) MAR23                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         -114 | NC      | $-146230.08   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| SK HYNIX INC                    | SK Hynix Inc                                                                     | CUSIP: 78392BAC1<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |      2071000 | PA      | $1569466.84   | 0.19%             | 2031-01-19      | Fixed         | 2.38%                 | 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        |       276796 | NS      | $276796.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| INDONESIA GOVERNMENT            | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  16000000000 | PA      | $1245459.64   | 0.15%             | 2031-07-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AXIS BANK LTD                   | Axis Bank Ltd                                                                    | CUSIP: 000000000<br>LEI: 549300HVNWMJPOFVNI41 | Long             | DBT              | CORP              | IN        |    200000000 | PA      | $2433155.66   | 0.30%             | 2023-10-20      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| INDUSTRIAL BANK OF KOREA        | Industrial Bank of Korea                                                         | CUSIP: 45604GAL3<br>LEI: 988400RBIWE3YA18PK12 | Long             | DBT              | NUSS              | KR        |      2500000 | PA      | $2511889.28   | 0.31%             | 2024-10-25      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| HOUSING DEV FINANCE CORP        | Housing Development Finance Corp Ltd                                             | CUSIP: 000000000<br>LEI: 335800OX2H9AP7NHLT64 | Long             | DBT              | CORP              | IN        |    100000000 | PA      | $1215771.81   | 0.15%             | 2026-08-24      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC          | Standard Chartered PLC                                                           | CUSIP: 853254AZ3<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |      5000000 | PA      | $4861176.80   | 0.59%             | 2026-04-12      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Standard Chartered PLC          | Standard Chartered PLC                                                           | CUSIP: 853254BH2<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |      2759000 | PA      | $2772325.97   | 0.34%             | 2023-04-02      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT             | Malaysia Government Bond                                                         | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     30500000 | PA      | $7833907.14   | 0.96%             | 2048-07-06      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC               | HSBC Holdings PLC                                                                | CUSIP: 404280BN8<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |      6260000 | PA      | $6260000.00   | 0.77%             | 2023-03-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MAF GLOBAL SECURITIES           | MAF Global Securities Ltd                                                        | CUSIP: 000000000<br>LEI: 54930037VUDNYTS17017 | Long             | DBT              | CORP              | KY        |      6500000 | PA      | $6402500.00   | 0.78%             | 2026-03-20      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| MACQUARIE BANK LTD              | Macquarie Bank Ltd                                                               | CUSIP: 556079AC5<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |      6845000 | PA      | $5902311.19   | 0.72%             | 2030-06-03      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MEGLOBAL CANADA ULC             | MEGlobal Canada ULC                                                              | CUSIP: 58518N2B7<br>LEI: 635400MHHHT7LMKMQL03 | Long             | DBT              | CORP              | CA        |      6759000 | PA      | $6697628.28   | 0.82%             | 2025-05-18      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIA GOVERNMENT BOND           | India Government Bond                                                            | CUSIP: 000000000<br>LEI: 335800IV7VCDQGIOI391 | Long             | DBT              | NUSS              | IN        |    550000000 | PA      | $6669586.16   | 0.82%             | 2028-01-08      | Fixed         | 7.17%                 | No            |                  2 | On Loan: No      |
| PRESS METAL ALUMINIUM           | Press Metal Aluminium Holdings Bhd                                               | CUSIP: 000000000<br>LEI: 254900RO5GQ4M0YV5S47 | Long             | DBT              | CORP              | MY        |      5000000 | PA      | $1165961.44   | 0.14%             | 2025-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Axis Bank Ltd                   | Axis Bank Ltd                                                                    | CUSIP: 000000000<br>LEI: 549300HVNWMJPOFVNI41 | Long             | DBT              | CORP              | IN        |    500000000 | PA      | $6199182.46   | 0.76%             | 2024-12-05      | Fixed         | 8.85%                 | No            |                  2 | On Loan: No      |
| REC Ltd                         | REC Ltd                                                                          | CUSIP: 000000000<br>LEI: 335800B4YRYWAMIJZ374 | Long             | DBT              | CORP              | IN        |    150000000 | PA      | $1867053.95   | 0.23%             | 2024-08-25      | Fixed         | 9.34%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                   | PURCHASED PHP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | PH        |            1 | NC      | $424045.24    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| INDIA GOVERNMENT BOND           | India Government Bond                                                            | CUSIP: 000000000<br>LEI: 335800IV7VCDQGIOI391 | Long             | DBT              | NUSS              | IN        |    880000000 | PA      | $10882290.39  | 1.33%             | 2025-05-25      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| POWER GRID CORP OF INDIA        | Power Grid Corp of India Ltd                                                     | CUSIP: 000000000<br>LEI: 3358009SHWZ3DZEQ4Z56 | Long             | DBT              | CORP              | IN        |    150000000 | PA      | $1859898.39   | 0.23%             | 2027-04-25      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Korea Exchange (Futures Market) | KOREA 10YR BND FU MAR23                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | KR        |          404 | NC      | $347653.84    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic of Indonesia           | Indonesia Government International Bond                                          | CUSIP: 455780CJ3<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |      2670000 | PA      | $2704016.52   | 0.33%             | 2049-02-11      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Kommunalbanken AS               | Kommunalbanken AS                                                                | CUSIP: 000000000<br>LEI: I7ETN0QQO2AHZZGHJ389 | Long             | DBT              | NUSS              | NO        |      7000000 | PA      | $4951791.81   | 0.61%             | 2023-04-17      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Republic of Indonesia           | Indonesia Government International Bond                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |      6000000 | PA      | $7410000.00   | 0.91%             | 2038-01-17      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| ZHENRO PROPERTIES GROUP         | Zhenro Properties Group Ltd                                                      | CUSIP: 000000000<br>LEI: 549300I66TVJEL841P38 | Long             | DBT              | CORP              | KY        |     10457000 | PA      | $909448.43    | 0.11%             | 2026-01-07      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| PTTEP Treasury Center Co        | PTTEP Treasury Center Co Ltd                                                     | CUSIP: 69371MAD9<br>LEI: 2549006WFOUPZX6TZG08 | Long             | DBT              | CORP              | TH        |      3342000 | PA      | $2419726.67   | 0.30%             | 2059-12-06      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| PENGERANG LNG TWO               | Pengerang LNG Two Sdn Bhd                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MY        |      5000000 | PA      | $1075145.05   | 0.13%             | 2029-10-19      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| CENTRAL CHN REAL ESTATE         | Central China Real Estate Ltd                                                    | CUSIP: 000000000<br>LEI: 549300JDML9PYG0CIJ22 | Long             | DBT              | CORP              | KY        |      1110000 | PA      | $405590.28    | 0.05%             | 2023-08-27      | Fixed         | 7.65%                 | Yes           |                  2 | On Loan: No      |
| Royal Bank of Canada            | PURCHASED SGD / SOLD USD                                                         | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | SG        |            1 | NC      | $124388.24    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| EXPORT-IMPORT BANK KOREA        | Export-Import Bank of Korea                                                      | CUSIP: 302154DW6<br>LEI: 549300APVP4R32PI3Y06 | Long             | DBT              | NUSS              | KR        |      1684000 | PA      | $1764091.04   | 0.22%             | 2033-01-11      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK             | Bangkok Bank PCL/Hong Kong                                                       | CUSIP: 000000000<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |      6900000 | PA      | $6061097.72   | 0.74%             | 2034-09-25      | Fixed         | 3.73%                 | Yes           |                  2 | On Loan: No      |
| GREENKO WIND PROJECTS MU        | Greenko Wind Projects Mauritius Ltd                                              | CUSIP: 39531JAA2<br>LEI: 254900MSUXE1FF83DP82 | Long             | DBT              | CORP              | MU        |      8206000 | PA      | $7736150.78   | 0.95%             | 2025-04-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CIFI HOLDINGS GROUP             | CIFI Holdings Group Co Ltd                                                       | CUSIP: 000000000<br>LEI: 549300WGKSV867C0JF48 | Long             | DBT              | CORP              | KY        |      1300000 | PA      | $402394.88    | 0.05%             | 2025-10-20      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| ADANI TRANS STEP-ONE LTD        | Adani Transmission Step-One Ltd                                                  | CUSIP: 00652XAB4<br>LEI: 335800Z8CGS7O7D72N41 | Long             | DBT              | CORP              | IN        |      3388450 | PA      | $2528363.80   | 0.31%             | 2036-05-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| KAISA GROUP HOLDINGS LTD        | Kaisa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 254900N8L3L7NRJT0120 | Long             | DBT              | CORP              | KY        |      4603000 | PA      | $830381.52    | 0.10%             | 2023-07-23      | Fixed         | 10.88%                | Yes           |                  2 | On Loan: No      |
| TOWER BERSAMA INFRASTRUC        | Tower Bersama Infrastructure Tbk PT                                              | CUSIP: 000000000<br>LEI: 213800ELUARKGNPAPY10 | Long             | DBT              | CORP              | ID        |      7181000 | PA      | $6610110.50   | 0.81%             | 2026-01-20      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| NTPC LTD                        | NTPC Ltd                                                                         | CUSIP: 000000000<br>LEI: 335800Q4TRGJXNLVMB81 | Long             | DBT              | CORP              | IN        |     50000000 | PA      | $617406.10    | 0.08%             | 2026-05-05      | Fixed         | 8.05%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                   | PURCHASED USD / SOLD PHP                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-696137.48   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| PERUSAHAAN LISTRIK NEGAR        | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara                        | CUSIP: 71568PAF6<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | CORP              | ID        |      3129000 | PA      | $3038492.11   | 0.37%             | 2048-05-21      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| MALAYSIA GOVERNMENT             | Malaysia Government Bond                                                         | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |     48300000 | PA      | $11472318.58  | 1.40%             | 2027-11-16      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| LENOVO GROUP LTD                | Lenovo Group Ltd                                                                 | CUSIP: 526250AE5<br>LEI: 254900VUZRGD5U73RE46 | Long             | DBT              | CORP              | HK        |      5600000 | PA      | $5765436.38   | 0.71%             | 2032-07-27      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd          | DBS Group Holdings Ltd                                                           | CUSIP: 24023MAA2<br>LEI: 5493007FKT78NKPM5V55 | Long             | DBT              | CORP              | SG        |      2400000 | PA      | $2379456.00   | 0.29%             | 2028-12-11      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| PENGERANG LNG TWO               | Pengerang LNG Two Sdn Bhd                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MY        |      5000000 | PA      | $1087393.78   | 0.13%             | 2028-10-20      | Fixed         | 2.86%                 | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV         | Mong Duong Finance Holdings BV                                                   | CUSIP: 60935DAA3<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |      4310000 | PA      | $3835900.34   | 0.47%             | 2029-05-07      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| GEELY AUTOMOBILE                | Geely Automobile Holdings Ltd                                                    | CUSIP: 000000000<br>LEI: 549300YS3T1KVQ2SNI84 | Long             | DBT              | CORP              | KY        |      3000000 | PA      | $2824174.08   | 0.35%             | 2024-12-09      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FPC Treasury Ltd                | FPC Treasury Ltd                                                                 | CUSIP: 000000000<br>LEI: 2549003UVE1FJ8DQF876 | Long             | DBT              | CORP              | VG        |      5326000 | PA      | $5288718.00   | 0.65%             | 2023-04-16      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CNAC HK FINBRIDGE CO LTD        | CNAC HK Finbridge Co Ltd                                                         | CUSIP: 000000000<br>LEI: 549300US1UQ7R7WABI28 | Long             | DBT              | CORP              | HK        |      3600000 | PA      | $3298642.96   | 0.40%             | 2029-06-19      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| DRB-HICOM BHD                   | DRB-Hicom Bhd                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MY        |      5000000 | PA      | $1172252.92   | 0.14%             | 2029-12-12      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

**Name of Applicant:** ABRDN ASIA-PACIFIC INCOME FUND, INC.

**Signature:** Sharon Ferrari

**Name of Signer:** Sharon Ferrari

**Title:** Assistant Treasurer