# EDGAR Filing Document

**Accession Number:** 0001413594
**File Stem:** 0001410368-25-042504
**Filing Date:** 2025-12
**Character Count:** 34780
**Document Hash:** 854e1d906d0358a62e2e7df15dc8cc4f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-042504.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0001410368-25-042504

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**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:** 251601081

**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 Short Duration High Yield Municipal Fund (Series ID: S000061519)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000199213 | Class A             | AAHMX           |
| C000199214 | Institutional Class | AHYMX           |

## 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 Short Duration High Yield Municipal Fund

- **b. EDGAR series identifier (if any):** S000061519

- **c. LEI of Series:** 2549000NLXQH3PZ50Y82

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

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

- **b. Date as of which information is reported:** 2025-10-31

**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:** $55295712.40

**Total Liabilities:** $500540.22

**Net Assets:** $54795172.18

**Delayed Delivery Securities:** $152677.50

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -17.09000000 | **1-Year:** -471.16000000 | **5-Year:** -2365.06000000 | **10-Year:** -5471.47000000 | **30-Year:** -2804.97000000

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

- **3-Month:** -221.58000000 | **1-Year:** -2026.90000000 | **5-Year:** -5549.85000000 | **10-Year:** -8125.66000000 | **30-Year:** -2635.30000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000199213 | 0.56%                | 1.92%                | 0.01%                |
| Class ID C000199214 | 0.58%                | 1.94%                | 0.03%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-415581.17              | $609180.08                                 |
| Month 2  | $-173959.52              | $1065830.78                                |
| Month 3  | $-1078250.74             | $870216.63                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALACHUA CNTY FL HLTH FACS AUTH CCRC                          | Alachua County Health Facilities Authority                | CUSIP: 010684BN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250406.45    | 0.46%             | 2030-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU REVENUE                         | Arizona Industrial Development Authority                  | CUSIP: 04052BPQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $240610.88    | 0.44%             | 2037-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU REVENUE                         | Arizona Industrial Development Authority                  | CUSIP: 04052BPR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $112120.54    | 0.20%             | 2041-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH SENIOR LIVING REVENUE               | Arizona Industrial Development Authority                  | CUSIP: 04052TDE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1647156 | PA      | $902653.84    | 1.65%             | 2059-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | Arlington Higher Education Finance Corp                   | CUSIP: 041807GZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $648400.00    | 1.18%             | 2049-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BALDWIN CNTY AL INDL DEV AUTH SOL WST DISP REVENUE           | Baldwin County Industrial Development Authority           | CUSIP: 05786PAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029361.60   | 1.88%             | 2055-06-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                      | Buckeye Tobacco Settlement Financing Authority            | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1257058.80   | 2.29%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REVENUE                           | Build NYC Resource Corp                                   | CUSIP: 12008ENE2<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    430000 | PA      | $430635.93    | 0.79%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REVENUE                           | Build NYC Resource Corp                                   | CUSIP: 12008EUG9<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    690000 | PA      | $645808.40    | 1.18%             | 2043-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | California Community Choice Financing Authority           | CUSIP: 13013JCM6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072433.50   | 1.96%             | 2054-01-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | California Infrastructure & Economic Development Bank     | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    595000 | PA      | $476000.00    | 0.87%             | 2065-01-01      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH REVENUE                          | California Municipal Finance Authority                    | CUSIP: 13048VUH9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |     10000 | PA      | $10012.41     | 0.02%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST SCH FIN AUTH CHRT SCH REVENUE                  | California School Finance Authority                       | CUSIP: 13058TSF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101702.40    | 0.19%             | 2043-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL PROJS FL FIN AUTH STUDENT HSG REVENUE                | Capital Projects Finance Authority/FL                     | CUSIP: 140427CA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $664303.62    | 1.21%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL PROJS FL FIN AUTH STUDENT HSG REVENUE                | Capital Projects Finance Authority/FL                     | CUSIP: 140427CN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250458.93    | 0.46%             | 2044-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL PROJS FL FIN AUTH STUDENT HSG REVENUE                | Capital Projects Finance Authority/FL                     | CUSIP: 140427CP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    145000 | PA      | $138794.77    | 0.25%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL REVENUE                                 | Capital Trust Agency Inc                                  | CUSIP: 14052WDJ3<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    295000 | PA      | $288856.21    | 0.53%             | 2035-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | Capital Trust Agency Inc                                  | CUSIP: 14054CCN7<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    290000 | PA      | $271670.00    | 0.50%             | 2029-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AGY FL EDUCTNL FACS REVENUE                    | Capital Trust Agency Inc                                  | CUSIP: 14054CFJ3<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2041857.20   | 3.73%             | 2043-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL FACS REVENUE                   | Capital Trust Authority                                   | CUSIP: 14054WAP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $252833.13    | 0.46%             | 2044-06-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL FACS REVENUE                   | Capital Trust Authority                                   | CUSIP: 14054WAQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $213045.76    | 0.39%             | 2054-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL TRUST AUTH FL EDUCTNL FACS REVENUE                   | Capital Trust Authority                                   | CUSIP: 14054WBP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $361050.38    | 0.66%             | 2040-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL BRD OF EDU                                        | Chicago Board of Education                                | CUSIP: 167505ZN9<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |    150000 | PA      | $152571.93    | 0.28%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CUYAHOGA CNTY OH PORT AUTH CULTURAL FAC REVENUE    | Cleveland-Cuyahoga County Port Authority                  | CUSIP: 18610PAS7<br>LEI: 549300KI3FXFLUKF3A98 | Long             | DBT              | MUN               | US        |    125000 | PA      | $127160.00    | 0.23%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO ST HLTH FACS AUTH REVENUE                           | Colorado Health Facilities Authority                      | CUSIP: 19648FTK0<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |   2625000 | PA      | $2488529.93   | 4.54%             | 2030-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | Florida Development Finance Corp                          | CUSIP: 34061UDL9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    305000 | PA      | $310307.98    | 0.57%             | 2039-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | Florida Development Finance Corp                          | CUSIP: 34061UNF1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038990.20   | 1.90%             | 2040-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP SOL WST DISP REVENUE                 | Florida Development Finance Corp                          | CUSIP: 34061XAF9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504191.20    | 0.92%             | 2032-07-01      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| FLORIDA ST DEV FIN CORP                                      | Florida Development Finance Corp                          | CUSIP: 34062AAC5<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    250000 | PA      | $244588.03    | 0.45%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA LOC GOVT FIN COMMISSION SENIOR LIVING REVENUE        | Florida Local Government Finance Commission               | CUSIP: 34077UAK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009146.10   | 1.84%             | 2031-11-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| FLORIDA LOC GOVT FIN COMMISSION SENIOR LIVING REVENUE        | Florida Local Government Finance Commission               | CUSIP: 34077UAL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1816526.52   | 3.32%             | 2031-11-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| HGR EDU FACS FING AUTH FL HGR EDUCTNL FACS REVENUE           | Florida Higher Educational Facilities Financing Authority | CUSIP: 42982GAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1991298.40   | 3.63%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HSG REVENUE                      | Indiana Finance Authority                                 | CUSIP: 45471FAF8<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    550000 | PA      | $545347.22    | 1.00%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HSG REVENUE                      | Indiana Finance Authority                                 | CUSIP: 45471FAW1<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    435000 | PA      | $439773.65    | 0.80%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH REVENUE                                     | Iowa Finance Authority                                    | CUSIP: 46247SBN3<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $789919.70    | 1.44%             | 2053-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH REVENUE                                     | Iowa Finance Authority                                    | CUSIP: 46247SFV1<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    100000 | PA      | $93673.38     | 0.17%             | 2059-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| KANSAS INDEP CLG FIN AUTH                                    | Kansas Independent College Finance Authority              | CUSIP: 485435EZ0<br>LEI: 5493006W4J5J9MZ52C15 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2019874.60   | 3.69%             | 2026-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MADISON CNTY NY CAPITAL RESOURCE CORP CORP REVENUE           | Madison County Capital Resource Corp                      | CUSIP: 557363DJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6500000 | PA      | $2860000.00   | 5.22%             | 2022-09-01      | Fixed         | 5.50%                 | No            |                  3 | On Loan: No      |
| MAINE ST FIN AUTH SOL WST DISP REVENUE                       | Finance Authority of Maine                                | CUSIP: 56042CAZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $258170.23    | 0.47%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH EDUCTNL FACS REVENUE          | Maricopa County Industrial Development Authority          | CUSIP: 56678RAH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     70000 | PA      | $69109.06     | 0.13%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH EDUCTNL FACS REVENUE          | Maricopa County Industrial Development Authority          | CUSIP: 56678RAJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $405804.07    | 0.74%             | 2030-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH EDU REVENUE                   | Maricopa County Industrial Development Authority          | CUSIP: 56681NEN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $612485.95    | 1.12%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH EDU REVENUE                   | Maricopa County Industrial Development Authority          | CUSIP: 56681NJF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $756378.53    | 1.38%             | 2045-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEVADA DEPT OF BUSINESS & INDUSTRY NV REVENUE                | State of Nevada Department of Business & Industry         | CUSIP: 641455AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1316000.00   | 2.40%             | 2065-01-01      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL EDU FACS FIN CORP TX SENIOR LIVING REVENUE | New Hope Cultural Education Facilities Finance Corp       | CUSIP: 64542PBX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $780000.00    | 1.42%             | 2051-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW HOPE CULTURAL ED FACS FIN CORP TX RETIREMENT FAC REVENUE | New Hope Cultural Education Facilities Finance Corp       | CUSIP: 64542UFR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    744520 | PA      | $195650.55    | 0.36%             | 2061-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                  | CUSIP: 650116HM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1533350.85   | 2.80%             | 2054-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OSCEOLA AR SOL WST DIST REVENUE                              | City of Osceola AR                                        | CUSIP: 688008AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $835435.04    | 1.52%             | 2036-04-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL REVENUE                                   | County of Palm Beach FL                                   | CUSIP: 696547HU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $552831.95    | 1.01%             | 2035-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FINGAUTH EXEMPT FACS REVENUE        | Pennsylvania Economic Development Financing Authority     | CUSIP: 708686ES5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008351.00   | 1.84%             | 2038-12-01      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH REVENUE                          | Public Finance Authority                                  | CUSIP: 744396CU4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    600000 | PA      | $603233.40    | 1.10%             | 2037-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI CHRT SCH REVENUE                          | Public Finance Authority                                  | CUSIP: 744396CV2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $485899.45    | 0.89%             | 2047-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI MF HSG REVENUE                            | Public Finance Authority                                  | CUSIP: 74441XHS1<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1329677.94   | 2.43%             | 2039-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDUCTNL FAC REVENUE                       | Public Finance Authority                                  | CUSIP: 74443DKY6<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    305000 | PA      | $299688.46    | 0.55%             | 2054-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDUCTNL FAC REVENUE                       | Public Finance Authority                                  | CUSIP: 74443DKZ3<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    265000 | PA      | $255509.56    | 0.47%             | 2064-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SPL FAC REVENUE                           | Public Finance Authority                                  | CUSIP: 74446DAK4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    180000 | PA      | $188372.72    | 0.34%             | 2030-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI SPL REVENUE                               | Public Finance Authority                                  | CUSIP: 74447TAF9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   1816000 | PA      | $1816331.06   | 3.31%             | 2032-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI TOLL REVENUE                              | Public Finance Authority                                  | CUSIP: 74448UAB4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2065375.80   | 3.77%             | 2060-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SHELBY CNTY TENN HEALTH EDL & HSG FAC BRD STUDENT HSG REVENU | Shelby County Health & Educational Facilities Board       | CUSIP: 82170LAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $487430.05    | 0.89%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SKAGIT CNTY WA PUBLIC HOSP DIST #1                           | Skagit County Public Hospital District No 1               | CUSIP: 830227EP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $386226.08    | 0.70%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DEV AUTH EDUCTNL FACS REVENUE    | South Carolina Jobs-Economic Development Authority        | CUSIP: 83704MAQ9<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1013913.05   | 1.85%             | 2029-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DEV AUTH EDUCTNL FACS REVENUE    | South Carolina Jobs-Economic Development Authority        | CUSIP: 83704MAS5<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    795000 | PA      | $792120.27    | 1.45%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING CORP NY REV                   | Suffolk Regional Off-Track Betting Co                     | CUSIP: 86480TAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $154588.02    | 0.28%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING CORP NY REV                   | Suffolk Regional Off-Track Betting Co                     | CUSIP: 86480TAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $304348.47    | 0.56%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TULSA OK MUNI ARPT TRUST TRUSTEES                            | Tulsa Municipal Airport Trust Trustees/OK                 | CUSIP: 899661EM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1729798.20   | 3.16%             | 2035-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | Utah Charter School Finance Authority                     | CUSIP: 91754TWZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $371654.70    | 0.68%             | 2028-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UTAH ST CHRT SCH FIN AUTH CHRT SCH REVENUE                   | Utah Charter School Finance Authority                     | CUSIP: 91754TXC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1945000 | PA      | $1944901.39   | 3.55%             | 2048-10-15      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| VENICE FL                                                    | City of Venice FL                                         | CUSIP: 922687AG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $245470.28    | 0.45%             | 2030-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VENICE FL                                                    | City of Venice FL                                         | CUSIP: 922687AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $676301.40    | 1.23%             | 2030-01-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WASHINGTON ST HSG FIN COMMISSION NONPROFIT HSG REVENUE       | Washington State Housing Finance Commission               | CUSIP: 939783H25<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |   2270000 | PA      | $2161148.51   | 3.94%             | 2028-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SUNLAND MED FNDTN ESCROW                                     | SUNLAND MED FNDTN ESCROW                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4100000 | PA      | $237545.80    | 0.43%             | 2050-01-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| State Street Bank & Trust Co.                                | REPOWER SOUTH BERKELEY                                    | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | Long             | DBT              | CORP              | US        |    226254 | PA      | $0.00         | 0.00%             | 2045-02-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| WESTERN REGL OFF-TRACK BETTING CORP REVENUE                  | Western Regional Off-Track Betting Corp                   | CUSIP: 959321AA8<br>LEI: 549300OJK9LIIXQUYY95 | Long             | DBT              | MUN               | US        |    410000 | PA      | $404111.79    | 0.74%             | 2026-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** abrdn Funds

**Signature:** Michael Marsico

**Name of Signer:** Michael Marsico

**Title:** Treasurer