Statement of Investments
January 31, 2022 (unaudited)
Aberdeen Australia Equity Fund, Inc.
| Shares | | | Description | | Industry and Percentage of Net Assets | | Value
(US$) | |
| | | | | | | | | |
| LONG-TERM INVESTMENTS — 102.7% | | | | | | |
| COMMON STOCKS — 102.7% | | | | | | |
| AUSTRALIA — 90.6% | | | | | | |
| 59,800 | | | Altium Ltd. | | Software— 1.1% | | $ | 1,528,730 | |
| 179,842 | | | Aristocrat Leisure Ltd. | | Hotels, Restaurants & Leisure— 3.9% | | | 5,213,218 | |
| 64,500 | | | ASX Ltd. | | Capital Markets— 2.8% | | | 3,825,400 | |
| 276,500 | | | Australia & New Zealand Banking Group Ltd. | | Banks— 3.9% | | | 5,225,528 | |
| 1,530,200 | | | Beach Energy Ltd. | | Oil, Gas & Consumable Fuels— 1.2% | | | 1,616,397 | |
| 449,800 | | | BHP Group Ltd. | | Metals & Mining— 10.5% | | | 14,197,843 | |
| 155,300 | | | Charter Hall Group | | Equity Real Estate Investment Trusts (REIT)— 1.4% | | | 1,860,161 | |
| 27,800 | | | Cochlear Ltd. | | Health Care— 2.8% | | | 3,812,295 | |
| 185,500 | | | Commonwealth Bank of Australia | | Banks— 9.2% | | | 12,370,946 | |
| 52,855 | | | CSL Ltd. | | Biotechnology— 7.2% | | | 9,790,997 | |
| 379,000 | | | Endeavour Group Ltd. | | Food & Staples Retailing— 1.3% | | | 1,692,847 | |
| 1,031,400 | | | Evolution Mining Ltd. | | Metals & Mining— 1.9% | | | 2,591,321 | |
| 322,100 | | | Goodman Group, REIT | | Equity Real Estate Investment Trusts (REIT)— 3.9% | | | 5,318,427 | |
| 75,000 | | | IDP Education Ltd. | | Diversified Consumer Services— 1.2% | | | 1,567,677 | |
| 544,500 | | | Insurance Australia Group Ltd. | | Insurance— 1.2% | | | 1,642,416 | |
| 63,700 | | | James Hardie Industries PLC | | Construction Materials— 1.6% | | | 2,143,838 | |
| 49,100 | | | Macquarie Group Ltd. | | Capital Markets— 4.8% | | | 6,417,935 | |
| 745,200 | | | Medibank Pvt Ltd. | | Insurance— 1.2% | | | 1,632,935 | |
| 137,200 | | | Megaport Ltd. (a) | | Information Technology Services— 1.0% | | | 1,319,833 | |
| 1,433,400 | | | Mirvac Group, REIT | | Equity Real Estate Investment Trusts (REIT)— 2.0% | | | 2,656,325 | |
| 419,700 | | | National Australia Bank Ltd. | | Banks— 6.0% | | | 8,098,298 | |
| 337,200 | | | Northern Star Resources Ltd. | | Metals & Mining— 1.5% | | | 2,009,686 | |
| 213,500 | | | OZ Minerals Ltd. | | Metals & Mining— 2.7% | | | 3,703,610 | |
| 436,400 | | | Pilbara Minerals Ltd. (a) | | Metals & Mining— 0.8% | | | 1,009,602 | |
| 51,700 | | | Pro Medicus Ltd. | | Health Care Technology— 1.2% | | | 1,669,596 | |
| 51,900 | | | Rio Tinto PLC - London Listing | | Metals & Mining— 2.7% | | | 3,658,188 | |
| 1,721,800 | | | Telstra Corp. Ltd. | | Diversified Telecommunication Services— 3.5% | | | 4,786,466 | |
| 116,800 | | | Wesfarmers Ltd. | | Multiline Retail— 3.2% | | | 4,358,101 | |
| 199,600 | | | Woodside Petroleum Ltd. | | Oil, Gas & Consumable Fuels— 2.6% | | | 3,566,653 | |
| 130,000 | | | Woolworths Group Ltd. | | Food & Staples Retailing— 2.3% | | | 3,171,280 | |
| | | | | | | | | 122,456,549 | |
See accompanying Notes to Portfolio of Investments.
Statement of Investments (concluded)
January 31, 2022 (unaudited)
Aberdeen Australia Equity Fund, Inc.
| NEW ZEALAND—9.8% | | | |
| 564,600 | | | Auckland International Airport Ltd. (a) | | Transportation Infrastructure— 2.0% | | $ | 2,690,335 | |
| 120,100 | | | Fisher & Paykel Healthcare Corp. Ltd. | | Health Care— 1.7% | | | 2,249,034 | |
| 333,900 | | | Mercury NZ Ltd. (a) | | Electric Utilities— 0.9% | | | 1,245,278 | |
| 634,500 | | | Spark New Zealand Ltd. (a) | | Diversified Telecommunication Services— 1.4% | | | 1,831,484 | |
| 63,900 | | | Xero Ltd. (a) | | Software— 3.8% | | | 5,176,248 | |
| | | | | | | | | 13,192,379 | |
| UNITED STATES—2.3% | | | | | | |
| 8,943 | | | Block, Inc.,GDR (a) | | Information Technology Services— 0.7% | | | 1,020,619 | |
| 93,100 | | | ResMed, Inc.,GDR | | Health Care— 1.6% | | | 2,114,621 | |
| | | | | | | | | 3,135,240 | |
| | Total Long-Term Investments—102.7% (cost $116,591,651) | | | 138,784,168 | |
| Shares | | | Description | | Value
(US$) | |
| | | | | | | |
| SHORT-TERM INVESTMENT—1.5% | | | | |
| UNITED STATES—1.5% | | | | |
| | 2,055,442 | | | State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(b) | | | 2,055,442 | |
| | | | | Total Short-Term Investment—1.5% (cost $2,055,442) | | | 2,055,442 | |
| | | | | Total Investments—104.2% (cost $118,647,093) | | | 140,839,610 | |
| | | | | Liabilities in Excess of Other Assets—(4.2)% | | | (5,691,726 | ) |
| | | | | Net Assets—100.0% | | $ | 135,147,884 | |
(a) Non-income producing security.
(b) Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of January 31, 2022.
GDR Global Depositary Receipt
PLC Public Limited Company
REIT Real Estate Investment Trust
See accompanying Notes to Portfolio of Investments.
Notes to Portfolio of Investments (unaudited)
January 31, 2022
Summary of Significant Accounting Policies
a. Security Valuation:
The Fund values its securities at current market value or fair value, consistent with regulatory requirements. "Fair value" is defined in the Fund's Valuation and Liquidity Procedures as the price that could be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants without a compulsion to transact at the measurement date.
Equity securities that are traded on an exchange are valued at the last quoted sale price on the principal exchange on which the security is traded at the “Valuation Time” subject to application, when appropriate, of the valuation factors described in the paragraph below. Under normal circumstances, the Valuation Time is as of the close of regular trading on the New York Stock Exchange ("NYSE") (usually 4:00 p.m. Eastern Time). In the absence of a sale price, the security is valued at the mean of the bid/ask price quoted at the close on the principal exchange on which the security is traded. Securities traded on NASDAQ are valued at the NASDAQ official closing price. Closed-end funds and exchange-traded funds ("ETFs") are valued at the market price of the security at the Valuation Time. A security using any of these pricing methodologies is determined to be a Level 1 investment.
Foreign equity securities that are traded on foreign exchanges that close prior to 4:00 p.m. Eastern time are valued by applying valuation factors to the last sale price or the mean price as noted above. Valuation factors are provided by an independent pricing service provider. These valuation factors are used when pricing a Fund’s portfolio holdings to estimate market movements between the time foreign markets close and the time a Fund values such foreign securities. These valuation factors are based on inputs such as depositary receipts, indices, futures, sector indices/ETFs, exchange rates, and local exchange opening and closing prices of each security.
Short-term investments are comprised of cash and cash equivalents invested in short-term investment funds which are redeemable daily. The Fund sweeps available cash into the State Street Institutional U.S. Government Money Market Fund, which has elected to qualify as a “government money market fund” pursuant to Rule 2a-7 under the 1940 Act and has an objective, which is not guaranteed, to maintain a $1.00 per share NAV. Generally, these investment types are categorized as Level 1 investments.
In the event that a security’s market quotations are not readily available or are deemed unreliable (for reasons other than because the foreign exchange on which it trades closes before the Valuation Time), the security is valued at fair value as determined by the Fund's Pricing Committee, taking into account the relevant factors and surrounding circumstances using valuation policies and procedures approved by the Board. A security that has been fair valued by the Fund's Pricing Committee may be classified as Level 2 or Level 3 depending on the nature of the inputs.
Aberdeen Australia Equity Fund, Inc.
