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	1001459.56	5.92%
FREDDIE MAC DISCOUNT NT	FREDN 0 01/07/13	313397AG6	600000	599906.91	3.55%
FANNIE DISCOUNT NOTE	FNMDN 0 01/23/13	313589AY9	600000	599867.73	3.55%
US TREASURY N/B	T 0.5 10/15/13	912828PB0	500000	501631.30	2.97%
FREDDIE MAC	FHLMC 0 11/04/13	3134G25F5	500000	500035.00	2.96%
FANNIE DISCOUNT NOTE	FNMDN 0 12/19/12	313588T88	350000	349971.46	2.07%
FED HOME LN DISCOUNT NT	FHLBDN 0 02/20/13	313385CC8	350000	349872.09	2.07%
SANOFI-AVENTIS	SANFP 0 03/28/14	80105NAC9	300000	301394.13	1.78%
IBM CORP	IBM 0.55 02/06/15	459200HB0	280000	280540.10	1.66%
AMOT 2010-2 A	AMOT 4.25 04/15/17	02005AAF5	250000	270606.47	1.60%
CONS EDISON CO OF NY	ED 4.875 02/01/13	209111EA7	257000	262968.31	1.56%
ONCOR ELECTRIC DELIVERY	ONCRTX 6.375 01/15/15	68233DAL1	230000	260417.12	1.54%
RIO TINTO FIN USA LTD	RIOLN 1.125 03/20/15	76720AAA4	250000	253422.44	1.50%
TOYOTA MOTOR CREDIT CORP	TOYOTA 1 02/17/15	89233P5Z5	250000	252903.97	1.50%
JOHN DEERE CAP COR	DE 0.95 06/29/15	24422ERS0	250000	252258.53	1.49%
BP CAPITAL MARKETS PLC	BPLN 0 12/06/13	05565QBW7	250000	251933.48	1.49%
SEMPRA ENERGY	SRE 0 03/15/14	816851AR0	250000	251824.31	1.49%
DEUTSCHE BANK AG LONDON	DB 4.875 05/20/13	2515A0NY5	245000	250380.35	1.48%
CENTERPOINT ENERGY	CNP 6.85 06/01/15	15189TAG2	210000	244969.20	1.45%
NEXTERA ENERGY CAPITAL	NEE 1.611 06/01/14	65339KAC4	240000	244308.48	1.44%
CAMERON INTL CORP	CAM 1.6 04/30/15	13342BAH8	240000	242882.11	1.44%
TOTAL CAPITAL CANADA LTD	TOTAL 1.625 01/28/14	89153UAB7	235000	239786.27	1.42%
BANK OF NOVA SCOTIA	BNS 0 01/12/15	064159AN6	235000	238900.17	1.41%
TALISMAN ENERGY	TLMCN 5.125 05/15/15	87425EAG8	220000	238619.87	1.41%
US TREASURY N/B	T 3.125 04/30/13	912828HY9	235000	238502.23	1.41%
CATERPILLAR FINANCIAL SE	CAT 1.375 05/20/14	14912L4V0	230000	232949.78	1.38%
PRUDENTIAL FINANCIAL INC	PRU 2.75 01/14/13	74432QBK0	230000	232937.39	1.38%
SMAT 2011-2USA A4A	SMAT 2.31 04/14/17	78446KAF0	220000	225892.44	1.34%
JOHNSON CONTROLS INC	JCI 0 02/04/14	478366AY3	225000	225882.01	1.34%
ENERGY TRANSFER PARTNERS	ETP 5.95 02/01/15	29273RAB5	190000	212390.42	1.26%
AMERICAN INTL GROUP	AIG 3 03/20/15	026874CT2	200000	209008.53	1.24%
ANHEUSER-BUSCH INBEV WOR	ABIBB 0 01/27/14	03523TBC1	205000	206264.51	1.22%
PRINCIPAL LIFE INC FDG	PFG 5.3 04/24/13	74254PYE6	200000	204854.84	1.21%
CF 2011-2A A	CF 0 04/07/24	165182AX4	200000	202873.80	1.20%
BARRICK GOLD CORP	ABXCN 1.75 05/30/14	067901AE8	200000	202840.72	1.20%
GENERAL ELEC CAP CORP	GE 2.625 12/28/12	36967HAY3	200000	202554.45	1.20%
BARCLAYS BANK PLC	BACR 2.5 01/23/13	06739FGP0	200000	202363.38	1.20%
FORDF 2010-5 A1	FORDF 1.5 09/15/15	34528QAU8	200000	201659.73	1.19%
JPMORGAN CHASE AND CO	JPM 0 01/24/14	46623EJF7	200000	201554.55	1.19%
PUB SVC ELEC N GAS	PEG 0.85 08/15/14	74456QAY2	200000	201308.16	1.19%
FORDF 2010-1 A	FORDF 0 12/15/14	34528QAJ3	200000	200304.96	1.18%
HSBC FINANCE CORP	HSBC 0 01/15/14	40429CFV9	200000	199445.32	1.18%
EMERSON ELECTRIC CO	EMR 4.5 05/01/13	291011AT1	187000	190765.62	1.13%
ARISTOTLE HOLDING INC	ESRX 2.75 11/21/14	04044TAA4	175000	180892.93	1.07%
TESCO CORP	TSCOLN 2 12/05/14	881575AE4	175000	180763.94	1.07%
PRUDENTIAL FINANCIAL INC	PRU 4.75 04/01/14	74432QAD7	170000	179742.64	1.06%
TRANS-CANADA PIPELINES	TRPCN 0.875 03/02/15	893526DL4	175000	176487.36	1.04%
COMMONWEALTH EDISON	EXC 1.625 01/15/14	202795HW3	170000	173195.81	1.02%
PROCTER GAMBLE CO/THE	PG 0 02/06/14	742718DX4	160000	159956.10	0.95%
GEORGIA POWER COMPANY	SO 0.625 11/15/15	373334JZ5	160000	159918.52	0.95%
NATIONAL RURAL UTIL COOP	NRUC 1 02/02/15	637432MP7	150000	151870.73	0.90%
NATIONAL AUSTRALIA BANK	NAB 0 07/25/14	6325C0CD1	150000	151797.00	0.90%
BHP BILLITON FIN USA LTD	BHP 1 02/24/15	055451AN8	150000	151485.97	0.90%
GENERAL ELEC CAP CORP	GE 0 04/07/14	36962G5B6	150000	151034.34	0.89%
QUEST DIAGNOSTIC INC	DGX 0 03/24/14	74834LAT7	140000	141230.62	0.84%
GEET 2012-1 A4	GEET 1.23 01/22/20	36162NAD9	135000	136641.53	0.81%
NATIONAL RURAL UTILITIES	NRUC 4.75 03/01/14	637432DC6	125000	132892.63	0.79%
HCP INC	HCP 2.7 02/01/14	40414LAB5	125000	128341.75	0.76%
INTL LEASE FINANCE CORP	AIG 6.5 09/01/14	459745FY6	115000	124343.75	0.74%
BOEING CAPITAL CORP	BA 5.8 01/15/13	097014AH7	120000	123356.05	0.73%
CLEVELAND ELEC ILLUMINAT	FE 5.65 12/15/13	186108CD6	110000	118014.03	0.70%
MACK-CALI REALTY L.P.	CLI 5.125 02/15/14	55448QAJ5	105000	110950.07	0.66%
TRANSALTA CORP	TACN 5.75 12/15/13	89346DAB3	100000	107187.79	0.63%
BALTIMORE GAS & ELECTRIC	EXC 6.125 07/01/13	059172AA4	100000	105742.88	0.63%
WFNMT 2009-D A	WFNMT 4.66 05/15/17	981464CE8	100000	102772.21	0.61%
KROGER CO.	KR 5 04/15/13	501044CJ8	100000	102255.99	0.60%
FLORIDA POWER CORP	DUK 4.8 03/01/13	341099CC1	100000	102262.60	0.60%
ABBVIE INC	ABT 1.2 11/06/15	00287YAA7	100000	100529.67	0.59%
FORDF 2010-5 A2	FORDF 0 09/15/15	34528QAV6	100000	100426.26	0.59%
COMET 2006-A12 A	COMET 0 07/15/16	14041NDC2	100000	99956.41	0.59%
AMERICAN EXPRESS CREDIT	AXP 1.75 06/12/15	0258M0DE6	95000	97782.67	0.58%
HEWLETT-PACKARD CO	HPQ 0 05/30/14	428236BJ1	100000	97527.57	0.58%
ROYAL BANK OF SCOTLAND	RBS 2.55 09/18/15	780099CC9	85000	87415.01	0.52%
AMEREN CORPORATION	AEE 8.875 05/15/14	023608AE2	75000	82997.66	0.49%
21ST CENTURY INSUR GRP	FARMER 5.9 12/15/13	90130NAB9	75000	80008.40	0.47%
ERAC USA FINANCE COMPANY	ENTERP 2.25 01/10/14	26884TAC6	75000	76483.54	0.45%
HARLEY-DAVIDSON FUNDING	HOG 5.25 12/15/12	41283DAA1	70000	71782.50	0.42%
BANK OF AMERICA CORP	BAC 1.5 10/09/15	06051GER6	70000	70397.53	0.42%
CAPITAL ONE FINANCIAL CO	COF 1 11/06/15	14040HBA2	65000	64799.31	0.38%
Cash		Cash	58433	58433.57	0.35%
SDART 2012-3 A3	SDART 1.08 04/15/16	80282WAC4	56000	56408.52	0.33%
US TREASURY COLLATERAL	T 0.5 05/31/13	912828QZ6	50000	50088.59	0.30%
FREDDIE MAC DISCOUNT NT	FREDN 0 01/14/13	313397AP6	50000	49990.81	0.30%
NUCOR CORP	NUE 5 12/01/12	670346AF2	48000	49200.00	0.29%
PSEG POWER LLC	PEG 2.5 04/15/13	69362BAV4	25000	25262.39	0.15%

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.