Saba Capital/Boaz Weinstein sells 23,723 HQL shares at $13.89

Rhea-AI Filing Summary

Saba Capital Management and individual reporting person Boaz Weinstein disclosed an insider sale in abrdn Life Sciences Investors (HQL). On 08/29/2025 they sold 23,723 shares of common stock at an average price of $13.89 per share. After the transaction, the reporting persons beneficially owned 2,982,706 shares indirectly. The Form 4 identifies the reporting persons as a director and a 10% owner and is signed on 09/02/2025.

Positive

• None.

Negative

• Insider sale of 23,723 shares at $13.89 was reported, reducing indirect holdings to 2,982,706 shares.

Insights

Securities Analyst

TL;DR: A director and 10% owner reported a small insider sale reducing indirect holdings to ~2.98M shares.

The Form 4 reports a routine disposition of 23,723 shares at $13.89 on 08/29/2025 by Saba Capital Management and Boaz Weinstein. The sale represents a modest percentage of total reported indirect holdings and does not include derivative transactions or additional material actions. Without further context—such as intent, timing relative to company events, or a pattern of transactions—this single-line sale is a limited data point for assessing company fundamentals or governance changes.

Corporate Governance Expert

TL;DR: This filing documents a disclosed sale by an insider who is also a director and 10% owner; no governance changes reported.

The filing clearly identifies the reporting parties and their relationship to the issuer, and shows an indirect ownership position post-transaction. There is no amendment, no derivative activity, and no disclosure of a Rule 10b5-1 plan. From a governance perspective, the disclosure meets Section 16 requirements but does not indicate any shift in control or board composition.

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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hours per response:			0.5

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)
08/29/2025

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	08/29/2025		S		23,723	D	$13.89	2,982,706	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	09/02/2025
	Boaz Weinstein	09/02/2025
	** 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 insider transaction was reported for HQL?

On 08/29/2025 Saba Capital Management and Boaz Weinstein reported selling 23,723 shares of HQL at $13.89 per share.

How many HQL shares do the reporting persons own after the trade?

The reporting persons beneficially own 2,982,706 shares indirectly following the reported transaction.

What roles do the reporting persons have with HQL?

The Form 4 lists the reporting persons as a Director and a 10% owner of the issuer.

Was this Form 4 filed as part of a Rule 10b5‑1 plan?

The filing does not indicate that the transaction was made pursuant to a Rule 10b5‑1 trading plan.

Are there any derivative transactions reported for HQL in this filing?

No. The Form 4 shows only a non‑derivative common stock sale and no derivative securities activity.