abrdn Emerging Markets ex-China Fund (AEF) officer reports zero holdings

Rhea-AI Filing Summary

abrdn Emerging Markets ex-China Fund, Inc. reported that one of its officers currently holds no securities of the fund. A vice president of the fund, filing individually as a reporting person, indicated that no securities are beneficially owned as of the event date of December 9, 2025. The submission also references a power of attorney authorizing signature on behalf of the reporting person.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Reilly Heather Carter

(Last) (First) (Middle)

C/O ABRDN

1900 MARKET STREET, SUITE 200

(Street)

PHILADELPHIA PA 19103

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/09/2025

3. Issuer Name and Ticker or Trading Symbol
abrdn Emerging Markets ex-China Fund, Inc. [ AEF ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

No securities are beneficially owned.

	/s/ Robert Stieger by POA from Reporting Person	12/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does this Form 3 for AEF disclose about insider ownership?

The filing states that the reporting person, a vice president of abrdn Emerging Markets ex-China Fund, Inc. (AEF), has no securities beneficially owned.

Who is the reporting person related to AEF in this Form 3?

The reporting person is identified as an officer of abrdn Emerging Markets ex-China Fund, Inc., with the title Vice President.

What is the event date for the insider status reported for AEF?

The date of the event requiring this statement is December 9, 2025.

Does the AEF officer report any direct or indirect share ownership?

No. The remarks section explicitly states that no securities are beneficially owned by the reporting person.

How was the Form 3 for AEF signed?

The form was signed as /s/ Robert Stieger by POA from Reporting Person, referencing an attached Exhibit 24 - Power of Attorney.

Is this AEF Form 3 a joint filing by multiple insiders?

No. The form indicates it is filed by one reporting person, not by more than one reporting person.