Aberdeen Ultra-Short Duration Bond Fund

Fund Holdings

Name	Ticker	Security No.	Shares	Market Value	Percent
FANNIE MAE	FNMA 0.5 10/30/14	3136G0FF3	1000000	1003354.22	5.30%
FREDDIE MAC DISCOUNT NT	FREDN 0 01/07/13	313397AG6	600000	599755.73	3.17%
FREDDIE MAC	FHLMC 0 11/04/13	3134G25F5	500000	500010.69	2.64%
FREDDIE MAC DISCOUNT NT	FREDN 0 11/19/12	313396Q22	400000	399921.68	2.11%
FED HOME LN DISCOUNT NT	FHLBDN 0 11/09/12	313384N88	400000	399937.34	2.11%
FANNIE DISCOUNT NOTE	FNMDN 0 12/19/12	313588T88	350000	349892.31	1.85%
FED HOME LN DISCOUNT NT	FHLBDN 0 02/20/13	313385CC8	350000	349805.61	1.85%
US TREASURY N/B	T 0.25 08/31/14	912828TL4	345000	345141.14	1.82%
US TREASURY N/B	T 3.125 04/30/13	912828HY9	310000	319382.29	1.69%
AESOP 2010-4A A	AESOP 2.09 04/20/15	05377RAH7	300000	305644.98	1.61%
NATIONAL AUSTRALIA BANK	NAB 0 07/25/14	6325C0CD1	300000	304026.95	1.61%
BHP BILLITON FIN USA LTD	BHP 1 02/24/15	055451AN8	300000	303310.73	1.60%
JPMORGAN CHASE AND CO	JPM 0 01/24/14	46623EJF7	300000	302681.96	1.60%
GENERAL ELEC CAP CORP	GE 0 04/07/14	36962G5B6	300000	302067.12	1.60%
SANOFI-AVENTIS	SANFP 0 03/28/14	80105NAC9	300000	301394.71	1.59%
HEWLETT-PACKARD CO	HPQ 0 05/30/14	428236BJ1	300000	297759.10	1.57%
IBM CORP	IBM 0.55 02/06/15	459200HB0	280000	280964.96	1.48%
AMOT 2010-2 A	AMOT 4.25 04/15/17	02005AAF5	250000	269783.22	1.42%
CONS EDISON CO OF NY	ED 4.875 02/01/13	209111EA7	257000	262906.12	1.39%
ONCOR ELECTRIC DELIVERY	ONCRTX 6.375 01/15/15	68233DAL1	230000	258670.73	1.37%
DEUTSCHE BANK AG LONDON	DB 4.875 05/20/13	2515A0NY5	245000	255930.58	1.35%
VERIZON COMMUNICATIONS	VZ 1.25 11/03/14	92343VBB9	250000	255217.97	1.35%
TOYOTA MOTOR CREDIT CORP	TOYOTA 1 02/17/15	89233P5Z5	250000	253012.31	1.34%
JOHN DEERE CAP COR	DE 0.95 06/29/15	24422ERS0	250000	252857.19	1.34%
AT&T INC	T 0.875 02/13/15	00206RBB7	250000	252430.17	1.33%
RIO TINTO FIN USA LTD	RIOLN 1.125 03/20/15	76720AAA4	250000	252010.94	1.33%
BP CAPITAL MARKETS PLC	BPLN 0 12/06/13	05565QBW7	250000	251940.51	1.33%
SEMPRA ENERGY	SRE 0 03/15/14	816851AR0	250000	251214.68	1.33%
CAMERON INTL CORP	CAM 1.6 04/30/15	13342BAH8	240000	244724.53	1.29%
NEXTERA ENERGY CAPITAL	NEE 1.611 06/01/14	65339KAC4	240000	244333.92	1.29%
TALISMAN ENERGY	TLMCN 5.125 05/15/15	87425EAG8	220000	242441.12	1.28%
CENTERPOINT ENERGY	CNP 6.85 06/01/15	15189TAG2	210000	241007.62	1.27%
TOTAL CAPITAL CANADA LTD	TOTAL 1.625 01/28/14	89153UAB7	235000	239381.28	1.26%
BANK OF NOVA SCOTIA	BNS 0 01/12/15	064159AN6	235000	239193.72	1.26%
CATERPILLAR FINANCIAL SE	CAT 1.375 05/20/14	14912L4V0	230000	234452.22	1.24%
PRUDENTIAL FINANCIAL INC	PRU 2.75 01/14/13	74432QBK0	230000	232841.87	1.23%
JOHNSON CONTROLS INC	JCI 0 02/04/14	478366AY3	225000	226180.23	1.19%
SMAT 2011-2USA A4A	SMAT 2.31 04/14/17	78446KAF0	220000	225051.82	1.19%
ENERGY TRANSFER PARTNERS	ETP 5.95 02/01/15	29273RAB5	190000	210470.35	1.11%
PRINCIPAL LIFE INC FDG	PFG 5.3 04/24/13	74254PYE6	200000	210099.58	1.11%
AMERICAN INTL GROUP	AIG 3 03/20/15	026874CT2	200000	207278.33	1.09%
ANHEUSER-BUSCH INBEV WOR	ABIBB 0 01/27/14	03523TBC1	205000	206828.37	1.09%
BARRICK GOLD CORP	ABXCN 1.75 05/30/14	067901AE8	200000	204133.39	1.08%
GENERAL ELEC CAP CORP	GE 2.625 12/28/12	36967HAY3	200000	202590.45	1.07%
BARCLAYS BANK PLC	BACR 2.5 01/23/13	06739FGP0	200000	202185.04	1.07%
FORDF 2010-5 A1	FORDF 1.5 09/15/15	34528QAU8	200000	202133.73	1.07%
CF 2011-2A A	CF 0 04/07/24	165182AX4	200000	201822.47	1.07%
PUB SVC ELEC N GAS	PEG 0.85 08/15/14	74456QAY2	200000	201590.62	1.06%
FORDF 2010-1 A	FORDF 0 12/15/14	34528QAJ3	200000	200836.50	1.06%
GEDFT 2009-2A A	GEDFT 0 10/20/14	36159LBK1	200000	200300.21	1.06%
HSBC FINANCE CORP	HSBC 0 01/15/14	40429CFV9	200000	199031.83	1.05%
EMERSON ELECTRIC CO	EMR 4.5 05/01/13	291011AT1	187000	194882.42	1.03%
ARISTOTLE HOLDING INC	ESRX 2.75 11/21/14	04044TAA4	175000	183449.10	0.97%
PRUDENTIAL FINANCIAL INC	PRU 4.75 04/01/14	74432QAD7	170000	183235.69	0.97%
TESCO CORP	TSCOLN 2 12/05/14	881575AE4	175000	179543.78	0.95%
TRANS-CANADA PIPELINES	TRPCN 0.875 03/02/15	893526DL4	175000	176738.08	0.93%
Cash		Cash	175398	175398.00	0.93%
COMMONWEALTH EDISON	EXC 1.625 01/15/14	202795HW3	170000	172828.89	0.91%
PROCTER GAMBLE CO/THE	PG 0 02/06/14	742718DX4	160000	160212.78	0.85%
NATIONAL RURAL UTIL COOP	NRUC 1 02/02/15	637432MP7	150000	151988.23	0.80%
GLAXOSMITHKLINE	GSK 4.85 05/15/13	377372AC1	135000	141220.43	0.75%
QUEST DIAGNOSTIC INC	DGX 0 03/24/14	74834LAT7	140000	141043.39	0.74%
GEET 2012-1 A4	GEET 1.23 01/22/20	36162NAD9	135000	136738.06	0.72%
NATIONAL RURAL UTILITIES	NRUC 4.75 03/01/14	637432DC6	125000	133064.79	0.70%
FANNIE MAE	FNMA 0 11/23/12	31398A6S6	130000	130032.18	0.69%
HCP INC	HCP 2.7 02/01/14	40414LAB5	125000	128186.88	0.68%
INTL LEASE FINANCE CORP	AIG 6.5 09/01/14	459745FY6	115000	124247.92	0.66%
BOEING CAPITAL CORP	BA 5.8 01/15/13	097014AH7	120000	123346.97	0.65%
CLEVELAND ELEC ILLUMINAT	FE 5.65 12/15/13	186108CD6	110000	117452.51	0.62%
MACK-CALI REALTY L.P.	CLI 5.125 02/15/14	55448QAJ5	105000	110246.70	0.58%
TRANSALTA CORP	TACN 5.75 12/15/13	89346DAB3	100000	106309.46	0.56%
KROGER CO.	KR 5 04/15/13	501044CJ8	100000	104487.16	0.55%
COX COMMUNICATIONS INC	COXENT 7.125 10/01/12	224044BE6	100000	103562.50	0.55%
WFNMT 2009-D A	WFNMT 4.66 05/15/17	981464CE8	100000	103309.31	0.55%
FLORIDA POWER CORP	DUK 4.8 03/01/13	341099CC1	100000	102223.70	0.54%
ANHEUSER-BUSCH INBEV WOR	ABIBB 3 10/15/12	03523TAL2	100000	101468.83	0.54%
FORDF 2010-5 A2	FORDF 0 09/15/15	34528QAV6	100000	100593.71	0.53%
COMET 2006-A12 A	COMET 0 07/15/16	14041NDC2	100000	99925.82	0.53%
AMERICAN EXPRESS CREDIT	AXP 1.75 06/12/15	0258M0DE6	95000	97676.21	0.52%
ROYAL BANK OF SCOTLAND	RBS 2.55 09/18/15	780099CC9	85000	86100.99	0.45%
AMEREN CORPORATION	AEE 8.875 05/15/14	023608AE2	75000	85942.26	0.45%
21ST CENTURY INSUR GRP	FARMER 5.9 12/15/13	90130NAB9	75000	79532.27	0.42%
ERAC USA FINANCE COMPANY	ENTERP 2.25 01/10/14	26884TAC6	75000	76349.22	0.40%
HARLEY-DAVIDSON FUNDING	HOG 5.25 12/15/12	41283DAA1	70000	71625.07	0.38%
SDART 2012-3 A3	SDART 1.08 04/15/16	80282WAC4	56000	56392.06	0.30%
US TREASURY COLLATERAL	T 0.5 05/31/13	912828QZ6	50000	50191.42	0.27%
FREDDIE MAC DISCOUNT NT	FREDN 0 01/14/13	313397AP6	50000	49978.21	0.26%
NUCOR CORP	NUE 5 12/01/12	670346AF2	48000	49129.66	0.26%
PSEG POWER LLC	PEG 2.5 04/15/13	69362BAV4	25000	25564.09	0.14%
CFAIT 2009-1 A3	CFAIT 2.59 10/15/13	17290DAC8	12202	12228.05	0.06%
DETROIT EDISON COMPANY	DTE 6.4 10/01/13	250847EE6	0	9600.00	0.05%

Disclosure

Holdings are subject to change at any time. Holdings should not be relied upon in making investment decisions and should not be construed as research or investment advice regarding specific securities. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or in part.