Aberdeen U.S. High Yield Bond Fund

Fund Holdings

Name	Ticker	Security No.	Shares	Market Value	Percent
Cash		Cash	1558811	1558811.08	9.07%
ARCH COAL INC	ACI 7.25 06/15/21	039380AG5	365000	338877.15	1.97%
SPRINT NEXTEL CORP	S 11.5 11/15/21	852061AM2	241000	324774.28	1.89%
VENOCO INC	VQ 8.875 02/15/19	92275PAF6	345000	313478.02	1.82%
INTELSAT BERMUDA LTD	INTEL 11.5 02/04/17	458204AJ3	275000	301155.56	1.75%
NORCRAFT COS/FINANCE 10.5% DEC 2015 USD	NORCRA 10.5 12/15/15	65556TAD9	285000	298798.75	1.74%
MARINA DISTRICT FINANCE	BORGAT 9.875 08/15/18	56808RAD8	299000	293491.34	1.71%
TASEKO MINES LTD	TKOCN 7.75 04/15/19	876511AB2	305000	292770.35	1.70%
SHELF DRILL HOLD LTRD	SHLFDI 8.625 11/01/18	822538AA2	280000	283882.08	1.65%
ALASKA COMM SYSTEMS GROU	ALSK 6.25 05/01/18	01167PAD3	415000	281248.96	1.64%
HERCULES OFFSHORE INC	HERO 10.25 04/01/19	427093AE9	260000	278741.67	1.62%
GARDA WORLD SECURITY COR	GWCN 9.75 03/15/17	36485MAB5	255000	272262.72	1.58%
INTEGRA TELECOM	INTTEL 10.75 04/15/16	45823WAA7	255000	266152.71	1.55%
AIRCASTLE LTD	AYR 7.625 04/15/20	00928QAG6	240000	263338.33	1.53%
ALPHA NATURAL RESOURCES	ANR 6.25 06/01/21	02076XAC6	285000	259706.25	1.51%
CINCINNATI BELL INC	CBB 8.375 10/15/20	171871AN6	227000	247589.22	1.44%
CARRIZO OIL & GAS	CRZO 7.5 09/15/20	144577AF0	235000	242490.63	1.41%
GREIF LUXEMBOURG FINANCE	GEF 7.375 07/15/21	EI7410653	165000	242035.70	1.41%
WOK ACQUISITION CORP	PFCB 10.25 06/30/20	977584AA9	220000	241071.11	1.40%
GMX RESOURCES INC	GMXR 9 03/02/18	38011MAR9	367000	226806.00	1.32%
SAPPI PAPIER HOLDNG GMBH	SAPSJ 7.75 07/15/17	803071AC3	200000	220286.11	1.28%
FOREST OIL CORPORATION	FST 7.5 09/15/20	346091BF7	210000	219537.50	1.28%
AAR CORP	AIR 7.25 01/15/22	000361AP0	205000	217789.72	1.27%
OFFSHORE GROUP INVST LTD	VTG 7.5 11/01/19	676253AH0	215000	217687.50	1.27%
KB HOME	KBH 8 03/15/20	48666KAQ2	190000	216008.89	1.26%
CONSOL ENERGY INC	CNX 6.375 03/01/21	20854PAH2	210000	214921.88	1.25%
OASIS PETROLEUM INC	OAS 6.5 11/01/21	674215AD0	200000	211583.33	1.23%
RADNET MGMT INC	RDNT 10.375 04/01/18	750492AD2	200000	205958.33	1.20%
TRONOX FINANCE	TROX 6.375 08/15/20	897050AA8	205000	205591.51	1.20%
ALBEA BEAUTY HOLDINGS	ALBHSA 8.375 11/01/19	012605AA9	200000	205442.36	1.20%
PERSTORP HOLDING AB	PERHOL 8.75 05/15/17	71535PAA7	200000	201777.78	1.17%
DYNCORP INTERNTL INC	DCP 10.375 07/01/17	26817CAB7	215000	199031.77	1.16%
SUNGARD DATA SYSTEMS INC	SDSINC 7.625 11/15/20	867363AU7	180000	197710.00	1.15%
PRETIUM PGK LLC/FIN INC	PRETPK 11.5 04/01/16	74139EAC2	185000	194558.33	1.13%
QUICKSILVER RESOURCES IN	KWK 8.25 08/01/15	74837RAE4	205000	194237.50	1.13%
CONVATEC HEALTHCARE	CONVAT 10.5 12/15/18	EI5188426	170000	193530.83	1.13%
EXCO RESOURCES	XCO 7.5 09/15/18	269279AD7	200000	192166.67	1.12%
EDISON MISSION ENERGY	EIX 7 05/15/17	281023AU5	375000	188437.50	1.10%
COMSTOCK RESOURCES INC	CRK 9.5 06/15/20	205768AJ3	165000	182975.83	1.06%
ARD Finance 11.125% 01/06/18 EUR	ARGID 11.125 06/01/18	EI6786871	130000	182708.28	1.06%
FMG RESOURCES AUG 2006	FMGAU 6.875 04/01/22	30251GAN7	185000	182494.79	1.06%
WESTMORELAND COAL	WLB 10.75 02/01/18	960887AB3	175000	181270.83	1.05%
POST HOLDINGS INC	POST 7.375 02/15/22	737446AA2	165000	179926.77	1.05%
BIOMET INC	BMET 6.5 10/01/20	090613AG5	175000	175114.24	1.02%
PEABODY ENERGY CORP	BTU 6.25 11/15/21	704549AM6	165000	171645.83	1.00%
GREEKTOWN SUPERHOLDINGS	GRKT 13 07/01/15	392485AC2	150000	168625.00	0.98%
99 CENTS ONLY STORES	NDN 11 12/15/19	65440KAB2	140000	166701.11	0.97%
FIRST DATA CORPORATION	FDC 6.75 11/01/20	319963BE3	155000	159214.06	0.93%
BOYD GAMING CORP	BYD 9.125 12/01/18	103304BG5	150000	157968.75	0.92%
CASELLA WASTE SYSTEMS IN	CWST 7.75 02/15/19	147448AH7	160000	157651.11	0.92%
SERVICEMASTER COMPANY	SVMSTR 7.1 03/01/18	81760NAA7	155000	150195.00	0.87%
FORBES ENERGY SERVICES	FES 9 06/15/19	345143AC5	155000	146320.00	0.85%
HOOTERS RESTAURANTS	WINGS 11.25 04/01/17	40432FAA8	155000	144731.25	0.84%
BOARDRIDERS SA	ZQK 8.875 12/15/17	EI4922890	100000	141884.25	0.83%
NESCO LLC/HOLDINGS CORP	NESCOL 11.75 04/15/17	64083AAA1	125000	136407.99	0.79%
H&E EQUIPMENT SVCS	HEES 7 09/01/22	404030AD0	125000	134329.86	0.78%
HCA INC	HCA 4.75 05/01/23	404121AF2	130000	131951.81	0.77%
NATIONSTAR MORT/CAP CORP	NSM 7.875 10/01/20	63860UAG5	125000	131363.28	0.76%
STEEL DYNAMICS	STLD 6.375 08/15/22	858119AU4	120000	127631.25	0.74%
NRG ENERGY INC	NRG 6.625 03/15/23	629377BT8	120000	125379.58	0.73%
AINSWORTH LUMBER	ANSCN 7.5 12/15/17	008914AE3	120000	123700.00	0.72%
CCO HLDGS LLC/CAP CORP	CHTR 6.625 01/31/22	1248EPAX1	110000	122074.41	0.71%
EV ENERGY PARTNERS/FINAN	EVEP 8 04/15/19	26926XAB9	115000	121925.56	0.71%
LEVI STRAUSS N CO	LEVI 6.875 05/01/22	52736RBD3	115000	121265.10	0.71%
TENET HEALTHCARE CORP	THC 8 08/01/20	88033GBM1	110000	120908.33	0.70%
NPC INTERNATIONAL INC	PIZA 10.5 01/15/20	62941YAB3	100000	118966.67	0.69%
STANDARD PACIFIC CORP	SPF 10.75 09/15/16	85375CAW1	95000	118530.97	0.69%
IRON MOUNTAIN INC	IRM 5.75 08/15/24	46284PAP9	115000	116751.35	0.68%
FIRST DATA CORPORATION	FDC 10.55 09/24/15	319963AT1	110000	114991.40	0.67%
JABIL CIRCUIT INC	JBL 8.25 03/15/18	466313AD5	95000	113279.58	0.66%
CHAPARRAL ENERGY INC.	CHAPAR 8.25 09/01/21	15942RAB5	100000	109562.50	0.64%
SANDRIDGE ENERGY	SD 7.5 03/15/21	80007PAN9	100000	105833.33	0.62%
ENERGY FUTURE HOLDINGS	TXU 10 01/15/20	292680AH8	90000	99025.00	0.58%
OGX PETROLEO E GAS PARTI	OGXPBZ 8.5 06/01/18	670849AA6	100000	91250.00	0.53%
MERITAGE HOMES CORP	MTH 7 04/01/22	59001AAQ5	80000	87733.33	0.51%
SEAGATE HDD CAYMAN	STX 7 11/01/21	81180WAF8	80000	85933.33	0.50%
HANESBRANDS INC	HBI 6.375 12/15/20	410345AG7	75000	84610.94	0.49%
CRICKET COMMUNICATIONS I	LEAP 7.75 10/15/20	226566AM9	80000	83392.22	0.49%
QUICKSILVER RESOURCES IN	KWK 7.125 04/01/16	74837RAC8	100000	82187.50	0.48%
GENON ENERGY INC	GEN 9.875 10/15/20	37244DAF6	70000	80158.26	0.47%
PARK-OHIO INDUSTRIES INC	PKOH 8.125 04/01/21	700677AN7	75000	79953.13	0.47%
DAVITA INC	DVA 5.75 08/15/22	23918KAP3	75000	79489.06	0.46%
MANDALAY RESORT GROUP	MGM 7.625 07/15/13	172909AF0	75000	79410.42	0.46%
OFFSHORE GROUP INVST LTD	VTG 11.5 08/01/15	676253AC1	68000	77406.67	0.45%
AMSURG CORP	AMSG 5.625 11/30/20	03232PAA6	75000	75878.91	0.44%
PLAINS EXPLORATION & PRO	PXP 6.875 02/15/23	726505AP5	70000	72567.88	0.42%
PH GLATFELTER CO	GLT 5.375 10/15/20	377316AL8	70000	72181.18	0.42%
MANITOWOC COMPANY INC	MTW 5.875 10/15/22	563571AJ7	70000	70479.79	0.41%
HCA INC	HCA 6.5 02/15/20	404121AC9	60000	68498.33	0.40%
FIDELITY NATIONAL INFORM	FIS 5 03/15/22	31620MAH9	55000	58055.56	0.34%
SEALED AIR CORP	SEE 8.375 09/15/21	81211KAR1	50000	57134.03	0.33%
SANDRIDGE ENERGY INC	SD 7.5 02/15/23	80007PAT6	50000	53052.08	0.31%
PANTRY INC	PTRY 8.375 08/01/20	698657AM5	50000	52997.57	0.31%
SUNGARD DATA SYSTEMS INC	SDSINC 6.625 11/01/19	867363AV5	50000	51276.04	0.30%
RSC EQUIP RENT/RSC HLDGS	URI 10.25 11/15/19	78108AAC8	40000	46582.22	0.27%
AIRCASTLE LIMITED	AYR 6.25 12/01/19	00928QAH4	45000	45682.81	0.27%
ADS WASTE ESCROW CORP	ADSWST 8.25 10/01/20	00101LAA9	40000	42276.67	0.25%
BIOMET INC	BMET 6.5 08/01/20	090613AF7	20000	21308.06	0.12%
JABIL CIRCUIT INC	JBL 4.7 09/15/22	466313AG8	15000	15268.58	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.