# EDGAR Filing Document

**Accession Number:** 0001413594
**File Stem:** 0001752724-25-137927
**Filing Date:** 2025-6
**Character Count:** 17703
**Document Hash:** fc6bdf71be1b29c8a6c8a75aa7791d45
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-137927.hdr.sgml**: 20250613

**ACCESSION NUMBER**: 0001752724-25-137927

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250613

**DATE AS OF CHANGE**: 20250613

**PERIOD START**: 20251031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22132
- **FILM NUMBER:** 251045354

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

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

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

## Series and Classes Contracts Data

### abrdn Focused U.S. Small Cap Active ETF (Series ID: S000088604)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000254924 | abrdn Focused U.S. Small Cap Active ETF |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** PHILADELPHIA

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19103

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

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

- **a. Name of Series:** abrdn Focused U.S. Small Cap Active ETF

- **b. EDGAR series identifier (if any):** S000088604

- **c. LEI of Series:** 213800F617MCULVYKK55

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $100066546.61

**Total Liabilities:** $90797.88

**Net Assets:** $99975748.73

**Cash Not Reported:** $2.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000254924 | -6.67%               | -3.73%               | -2.05%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $836776.57               | $917080.53                                 |
| Month 2  | $519573.05               | $2591608.19                                |
| Month 3  | $814722.84               | $-2915342.32                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Camtek Ltd/Israel                     | Camtek Ltd/Israel                     | CUSIP: 000000000<br>LEI: 5493000H80W07HCKGS43 | Long             | EC               | CORP              | IL        |     28395 | NS      | $1855329.30   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals Inc            | Ligand Pharmaceuticals Inc            | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |     25791 | NS      | $2833399.26   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Inc                            | Vertex Inc                            | CUSIP: 92538J106<br>LEI: 549300QMYW171MP1PL50 | Long             | EC               | CORP              | US        |     76060 | NS      | $3044681.80   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Workiva Inc                           | Workiva Inc                           | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |     29576 | NS      | $2226185.52   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Enpro Inc                             | Enpro Inc                             | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |     13788 | NS      | $2059927.20   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc          | Catalyst Pharmaceuticals Inc          | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |     92068 | NS      | $2236331.72   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| JFrog Ltd                             | JFrog Ltd                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     73208 | NS      | $2472234.16   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmus Filtration Technologies Inc     | Atmus Filtration Technologies Inc     | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72054 | NS      | $2498112.18   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| WSFS Financial Corp                   | WSFS Financial Corp                   | CUSIP: 929328102<br>LEI: 549300SU7VQHD6QRG886 | Long             | EC               | CORP              | US        |     59113 | NS      | $3047275.15   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc             | Merit Medical Systems Inc             | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |     29571 | NS      | $2792980.95   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co          | Graphic Packaging Holding Co          | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     87326 | NS      | $2210221.06   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS MONEY MARKET INSTL ICAXX          | DWS MONEY MARKET INSTL ICAXX          | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     17722 | NS      | $17722.03     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp               | Wintrust Financial Corp               | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     28926 | NS      | $3215703.42   | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp                      | Knife River Corp                      | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32232 | NS      | $3009824.16   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                | Boot Barn Holdings Inc                | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     22199 | NS      | $2316243.66   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp                   | Terreno Realty Corp                   | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               |  | US        |     46978 | NS      | $2646270.74   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals Inc               | ANI Pharmaceuticals Inc               | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |     42436 | NS      | $3005317.52   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vita Coco Co Inc/The                  | Vita Coco Co Inc/The                  | CUSIP: 92846Q107<br>LEI: 54930020WXOAWHR85Y25 | Long             | EC               | CORP              | US        |     76282 | NS      | $2521120.10   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Materion Corp                         | Materion Corp                         | CUSIP: 576690101<br>LEI: 549300CJ5RI351SUYT02 | Long             | EC               | CORP              | US        |     27575 | NS      | $2289000.75   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| La-Z-Boy Inc                          | La-Z-Boy Inc                          | CUSIP: 505336107<br>LEI: 549300WNO1WMN9ZG2519 | Long             | EC               | CORP              | US        |     49856 | NS      | $1969312.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc          | American Healthcare REIT Inc          | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               |  | US        |     31229 | NS      | $1008072.12   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| REV Group Inc                         | REV Group Inc                         | CUSIP: 749527107<br>LEI: 549300SRD0SIG5ZZ3X20 | Long             | EC               | CORP              | US        |     97738 | NS      | $3196032.60   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co                          | SM Energy Co                          | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     46608 | NS      | $1062196.32   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PJT Partners Inc                      | PJT Partners Inc                      | CUSIP: 69343T107<br>LEI: 549300W3WBEQUBKYTN87 | Long             | EC               | CORP              | US        |     15429 | NS      | $2186443.59   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NMI Holdings Inc                      | NMI Holdings Inc                      | CUSIP: 629209305<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | EC               | CORP              | US        |     65050 | NS      | $2352858.50   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc            | Mueller Water Products Inc            | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |     80026 | NS      | $2099882.24   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Griffon Corp                          | Griffon Corp                          | CUSIP: 398433102<br>LEI: 5493000C2SGNC7ZN3242 | Long             | EC               | CORP              | US        |     33487 | NS      | $2280799.57   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil & Gas Inc                | Northern Oil & Gas Inc                | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |     40495 | NS      | $984028.50    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Banner Corp                           | Banner Corp                           | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37044 | NS      | $2264870.16   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyward Specialty Insurance Group Inc | Skyward Specialty Insurance Group Inc | CUSIP: 830940102<br>LEI: 549300GXGXJG0YH4VN21 | Long             | EC               | CORP              | US        |     38078 | NS      | $2021561.02   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Integral Ad Science Holding Corp      | Integral Ad Science Holding Corp      | CUSIP: 45828L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    162689 | NS      | $1150211.23   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Seacoast Banking Corp of Florida      | Seacoast Banking Corp of Florida      | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               | CORP              | US        |    107570 | NS      | $2550484.70   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                           | ONE Gas Inc                           | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |     49922 | NS      | $3919376.22   | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Aritzia Inc                           | Aritzia Inc                           | CUSIP: 04045U102<br>LEI: 549300U83HKFRL1EX527 | Long             | EC               | CORP              | CA        |     70694 | NS      | $2486545.81   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp               | Magnolia Oil & Gas Corp               | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59005 | NS      | $1211372.65   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc             | Casella Waste Systems Inc             | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |     27157 | NS      | $3189589.65   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| DWS MONEY MARKET INSTL ICAXX          | DWS MONEY MARKET INSTL ICAXX          | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    934723 | NS      | $934723.34    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions Inc     | Donnelley Financial Solutions Inc     | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |     58993 | NS      | $2843462.60   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp                 | Integer Holdings Corp                 | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |     21998 | NS      | $2778567.38   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings Inc                       | Q2 Holdings Inc                       | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |     40421 | NS      | $3203364.25   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Corcept Therapeutics Inc              | Corcept Therapeutics Inc              | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |     30592 | NS      | $2198952.96   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                            | Stride Inc                            | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |     24180 | NS      | $3439605.00   | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinker International Inc             | Brinker International Inc             | CUSIP: 109641100<br>LEI: 52990067JY6PBGJNTG76 | Long             | EC               | CORP              | US        |     17728 | NS      | $2380870.40   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-16

**Name of Applicant:** abrdn Funds

**Signature:** Michael Marsico

**Name of Signer:** Michael Marsico

**Title:** Treasurer