Boaz Weinstein/Saba Capital Reports Small HQL Insider Sale

Rhea-AI Filing Summary

Saba Capital Management, L.P. and individual reporting person Boaz Weinstein disclosed a small insider sale of abrdn Life Sciences Investors (HQL) common stock. On 08/26/2025 400 shares were sold at $13.83 per share. After the transaction the reporting entities beneficially owned 3,006,429 shares on an indirect basis. The filing identifies the reporters as a director and 10% owner.

Positive

• Continued substantial ownership: Reporting persons retain 3,006,429 indirect shares, indicating sustained significant stake.
• Timely disclosure: The transaction was reported on Form 4, satisfying Section 16 reporting requirements.

Negative

• None.

Insights

Financial Analyst

TL;DR: A de minimis insider sale occurred; ownership remains materially large, suggesting no major change to control or stake.

The reported disposition of 400 shares at $13.83 is immaterial relative to the reported indirect holding of 3,006,429 shares, indicating the transaction is likely routine liquidity management rather than a strategic shift. No derivative transactions or other dispositions were reported. Impact on company capitalization and control is negligible based solely on this filing.

Corporate Governance Expert

TL;DR: Director and 10% owner reported a minor sale; governance implications appear minimal from this single Form 4.

The filing shows continued disclosure compliance by a director/10% owner with an indirect holding of 3,006,429 shares after selling 400 shares. There are no indications of plan-based trades or large-scale divestiture in this document. From a governance perspective, this single small sale does not signal a change in insider alignment with shareholders.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
abrdn Life Sciences Investors [ HQL ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/26/2025

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/26/2025		S		400	D	$13.83	3,006,429	I	-

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Weinstein Boaz

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	08/27/2025
	Boaz Weinstein	08/27/2025
	** 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 4 (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 transaction did Saba Capital Management report for HQL?

They reported a sale of 400 shares of HQL common stock executed on 08/26/2025 at a price of $13.83 per share.

How many HQL shares do the reporting persons beneficially own after the transaction?

The filing shows 3,006,429 shares beneficially owned on an indirect basis following the reported sale.

Who filed the Form 4 for HQL?

The Form 4 was filed by Saba Capital Management, L.P. and individual reporting person Boaz Weinstein, each identified as a director and 10% owner.

Were any derivative securities reported in this Form 4 for HQL?

No derivative securities or related transactions were reported in Table II of this Form 4.

Does this Form 4 indicate a significant change in control of HQL?

No. Based solely on this filing, the sale of 400 shares is immaterial relative to the reported indirect holding of 3,006,429 shares.