Aberdeen U.S. High Yield Bond Fund

Fund Holdings

Name	Ticker	Security No.	Shares	Market Value	Percent
Cash		Cash	1345437	1345437.15	8.09%
SPRINT NEXTEL CORP	S 11.5 11/15/21	852061AM2	275000	353061.81	2.12%
ARCH COAL INC	ACI 7.25 06/15/21	039380AG5	345000	316642.92	1.90%
VENOCO INC	VQ 8.875 02/15/19	92275PAF6	345000	310135.83	1.86%
CINCINNATI BELL INC	CBB 8.375 10/15/20	171871AN6	280000	305658.89	1.84%
ALASKA COMM SYSTEMS GROU	ALSK 6.25 05/01/18	01167PAD3	415000	301220.83	1.81%
TASEKO MINES LTD	TKOCN 7.75 04/15/19	876511AB2	305000	299442.22	1.80%
INTELSAT BERMUDA LTD	INTEL 11.5 02/04/17	458204AJ3	275000	290155.56	1.74%
NORCRAFT COS/FINANCE 10.5% DEC 2015 USD	NORCRA 10.5 12/15/15	65556TAD9	285000	289892.50	1.74%
CRICKET COMMUNICATIONS I	LEAP 7.75 10/15/20	226566AM9	290000	289790.56	1.74%
CONSOL ENERGY INC	CNX 6.375 03/01/21	20854PAH2	280000	286125.00	1.72%
CLEARWIRE COMM/FINANCE	CLWR 12 12/01/15	18538TAA7	275000	280500.00	1.69%
GENON ENERGY INC	GEN 9.875 10/15/20	37244DAF6	245000	277721.11	1.67%
HERCULES OFFSHORE INC	HERO 10.25 04/01/19	427093AE9	260000	277456.11	1.67%
AIRCASTLE LTD	AYR 7.625 04/15/20	00928QAG6	240000	273272.50	1.64%
INTEGRA TELECOM	INTTEL 10.75 04/15/16	45823WAA7	255000	271093.33	1.63%
MARINA DISTRICT FINANCE	BORGAT 9.875 08/15/18	56808RAD8	280000	271078.89	1.63%
ASHTEAD CAP	AHTLN 6.5 07/15/22	045054AB9	250000	262031.25	1.58%
ALPHA NATURAL RESOURCES	ANR 6.25 06/01/21	02076XAC6	285000	259528.13	1.56%
WOK ACQUISITION CORP	PFCB 10.25 06/30/20	977584AA9	220000	234333.61	1.41%
CLEARWIRE COMM/FINANCE	CLWR 14.75 12/01/16	18538TAJ8	205000	229471.88	1.38%
GMX RESOURCES INC	GMXR 4.5 05/01/15	38011MAJ7	525000	229031.25	1.38%
CRICKET COMMUNICATIONS I	LEAP 10 07/15/15	226566AG2	216000	225780.00	1.36%
GREIF LUXEMBOURG FINANCE	GEF 7.375 07/15/21	EI7410653	165000	224500.37	1.35%
ARDAGH PACKAGING FINANCE	ARGID 7.375 10/15/17	03968XAB7	200000	219822.22	1.32%
NORTEK INC	NTK 8.5 04/15/21	656559BQ3	200000	218922.22	1.32%
KB HOME	KBH 8 03/15/20	48666KAQ2	190000	212388.33	1.28%
SAPPI PAPIER HOLDNG GMBH	SAPSJ 7.75 07/15/17	803071AC3	200000	211411.11	1.27%
RADNET MGMT INC	RDNT 10.375 04/01/18	750492AD2	200000	210145.83	1.26%
GARDA WORLD SECURITY COR	GWCN 9.75 03/15/17	36485MAB5	185000	205353.13	1.23%
EDISON MISSION ENERGY	EIX 7 05/15/17	281023AU5	375000	204604.17	1.23%
AAR CORP	AIR 7.25 01/15/22	000361AP0	200000	202602.78	1.22%
OFFSHORE GROUP INVST LTD	VTG 11.5 08/01/15	676253AC1	180000	200625.00	1.21%
SUNGARD DATA SYSTEMS INC	SDSINC 7.625 11/15/20	867363AU7	180000	197091.25	1.18%
PRETIUM PGK LLC/FIN INC	PRETPK 11.5 04/01/16	74139EAC2	185000	195714.58	1.18%
QUICKSILVER RESOURCES IN	KWK 8.25 08/01/15	74837RAE4	205000	195646.88	1.18%
POST HOLDINGS INC	POST 7.375 02/15/22	737446AA2	185000	195550.14	1.18%
EXCO RESOURCES	XCO 7.5 09/15/18	269279AD7	200000	188916.67	1.14%
DYNCORP INTERNTL INC	DCP 10.375 07/01/17	26817CAB7	215000	185392.71	1.11%
COMSTOCK RESOURCES INC	CRK 9.5 06/15/20	205768AJ3	165000	177819.58	1.07%
CCO HLDGS LLC/CAP CORP	CHTR 6.625 01/31/22	1248EPAX1	155000	168671.75	1.01%
GREEKTOWN SUPERHOLDINGS	GREEK 13 07/01/15	392485AC2	150000	165250.00	0.99%
ENERGYSOLUTIONS INC/LLC	ES 10.75 08/15/18	292757AB7	185000	164146.39	0.99%
WESTMORELAND COAL	WLB 10.75 02/01/18	960887AB3	175000	163880.21	0.99%
NUMBER MERGER SUB INC	NDN 11 12/15/19	67053MAA4	140000	160051.11	0.96%
BOYD GAMING CORP	BYD 9.125 12/01/18	103304BG5	150000	158859.38	0.95%
FIRST DATA CORPORATION	FDC 6.75 11/01/20	319963BE3	155000	154273.44	0.93%
FORBES ENERGY SERVICES	FES 9 06/15/19	345143AC5	155000	153295.00	0.92%
OASIS PETROLEUM INC	OAS 6.5 11/01/21	674215AD0	145000	151041.67	0.91%
HOOTERS RESTAURANTS	WINGS 11.25 04/01/17	40432FAA8	155000	150059.38	0.90%
SERVICEMASTER COMPANY	SVMSTR 7.1 03/01/18	81760NAA7	155000	148490.00	0.89%
FMG RESOURCES AUG 2006	FMGAU 6.875 04/01/22	30251GAN7	155000	147395.31	0.89%
PETROLEUM DEVELOPMENT CO	PDCE 12 02/15/18	716578AB5	130000	140443.33	0.84%
NESCO LLC/HOLDINGS CORP	NESCOL 11.75 04/15/17	64083AAA1	125000	136961.81	0.82%
NATIONSTAR MORT/CAP CORP	NSM 10.875 04/01/15	63860UAB6	120000	136537.50	0.82%
ACADIA HEALTHCARE	ACHC 12.875 11/01/18	00404AAC3	110000	132320.83	0.80%
BOARDRIDERS SA	ZQK 8.875 12/15/17	EI4922890	100000	128411.20	0.77%
APRIA HEALTHCARE GROUP I	AHG 12.375 11/01/14	037933AG3	127000	127317.50	0.77%
INTL LEASE FINANCE CORP	AIG 6.25 05/15/19	459745GH2	115000	122291.32	0.74%
EV ENERGY PARTNERS/FINAN	EVEP 8 04/15/19	26926XAB9	115000	122213.06	0.73%
LEVI STRAUSS N CO	LEVI 6.875 05/01/22	52736RBD3	115000	121794.18	0.73%
STANDARD PACIFIC CORP	SPF 10.75 09/15/16	85375CAW1	95000	119421.60	0.72%
PEABODY ENERGY CORP	BTU 6.25 11/15/21	704549AL8	115000	119128.82	0.72%
FIRST DATA CORPORATION	FDC 10.55 09/24/15	319963AT1	110000	117617.65	0.71%
JABIL CIRCUIT INC	JBL 8.25 03/15/18	466313AD5	95000	117613.96	0.71%
TENET HEALTHCARE CORP	THC 8 08/01/20	88033GBM1	110000	117333.33	0.71%
NPC INTERNATIONAL INC	PIZA 10.5 01/15/20	62941YAB3	100000	115341.67	0.69%
CHAPARRAL ENERGY INC.	CHAPAR 8.25 09/01/21	15942RAB5	100000	113125.00	0.68%
COMSTOCK RESOURCES INC	CRK 8.375 10/15/17	205768AG9	100000	105163.89	0.63%
SANDRIDGE ENERGY	SD 7.5 03/15/21	80007PAR0	100000	104708.33	0.63%
ENERGY FUTURE HOLDINGS	TXU 10 01/15/20	292680AH8	90000	100375.00	0.60%
CARRIZO OIL and GAS INC	CRZO 8.625 10/15/18	144577AC7	85000	93507.08	0.56%
OGX PETROLEO E GAS PARTI	OGXPBZ 8.5 06/01/18	670849AA6	100000	90875.00	0.55%
H&E EQUIPMENT SVCS	HEES 7 09/01/22	404030AD0	85000	88369.31	0.53%
SEAGATE HDD CAYMAN	STX 7 11/01/21	81180WAF8	80000	86533.33	0.52%
QUICKSILVER RESOURCES IN	KWK 7.125 04/01/16	74837RAC8	100000	83968.75	0.50%
STEEL DYNAMICS	STLD 6.375 08/15/22	858119AU4	80000	83012.50	0.50%
HANESBRANDS INC	HBI 6.375 12/15/20	410345AG7	75000	82384.37	0.50%
PARK-OHIO INDUSTRIES INC	PKOH 8.125 04/01/21	700677AN7	75000	79789.06	0.48%
DAVITA INC	DVA 5.75 08/15/22	23918KAP3	75000	78035.94	0.47%
MANDALAY RESORT GROUP	MGM 7.625 07/15/13	172909AF0	75000	77230.73	0.46%
MERITAGE HOMES CORP	MTH 7 04/01/22	59001AAQ5	70000	75419.17	0.45%
TRONOX FINANCE	TROX 6.375 08/15/20	897050AA8	70000	70836.35	0.43%
AINSWORTH LUMBER	ANSCN 11 07/29/15	009037AM4	74250	70549.88	0.42%
HCA INC	HCA 6.5 02/15/20	404121AC9	60000	66098.33	0.40%
FIDELITY NATIONAL INFORM	FIS 5 03/15/22	31620MAH9	55000	58437.50	0.35%
SEALED AIR CORP	SEE 8.375 09/15/21	81211KAR1	50000	58180.90	0.35%
PANTRY INC	PTRY 8.375 08/01/20	698657AM5	50000	52013.19	0.31%
SANDRIDGE ENERGY	SD 7.5 02/15/23	80007PAS8	50000	50364.58	0.30%
RSC EQUIP RENT/RSC HLDGS	URI 10.25 11/15/19	78108AAC8	40000	46507.22	0.28%
BIOMET INC	BMET 6.5 08/01/20	090613AF7	40000	41666.11	0.25%
COMMERCIAL BARGE LINE	ACLI 12.5 07/15/17	20162UAB1	35000	39759.03	0.24%
NATIONSTAR MORT/CAP CORP	NSM 9.625 05/01/19	63860UAF7	35000	39504.06	0.24%
JABIL CIRCUIT INC	JBL 4.7 09/15/22	466313AG8	15000	15129.83	0.09%

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.