[Form 4] abrdn Life Sciences Investors Insider Trading Activity

Rhea-AI Filing Summary

Saba Capital Management, L.P. reported two insider sales of abrdn Life Sciences Investors (HQL) common stock. On 09/17/2025 the filer sold 24,328 shares at $13.99, leaving 2,926,453 shares beneficially owned indirectly. On 09/18/2025 the filer sold 40,208 shares at $14.07, leaving 2,886,245 shares beneficially owned indirectly.

The Form 4 is signed by representatives of Saba Capital (Zachary Gindes and Boaz Weinstein) on 09/19/2025. The filing identifies the reporting person as a Director and reports indirect beneficial ownership of the disclosed shares.

Positive

• Disclosure provided via Form 4, showing transparency about insider transactions
• Reporting person identified as a Director and form is signed by firm representatives

Negative

• Total of 64,536 shares sold across two days (09/17/2025 and 09/18/2025), reducing indirect holdings
• Prices of $13.99 and $14.07 indicate realized dispositions by the reporting entity

Insights

Securities Analyst

TL;DR: Two small-block insider sales reported by a director/affiliate; holdings remain large and disclosed promptly.

The filing shows routine disposition transactions totaling 64,536 shares over two days at prices of $13.99 and $14.07. The reporting entity retains substantial indirect ownership (over 2.88 million shares) after the sales. This disclosure provides transparency about insider activity but does not by itself indicate a change in control or a material shift in ownership.

Corporate Governance Expert

TL;DR: Form 4 documents disclosed sales by an affiliated director; signatures and dates are provided, satisfying disclosure formality.

The Form 4 is signed and dated, lists the reporting person as a director, and records indirect beneficial ownership levels before and after the transactions. From a governance perspective, the filing meets statutory reporting requirements and allows investors to see recent insider disposition activity.

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)
09/17/2025

4. 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 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	09/17/2025		S		24,328	D	$13.99	2,926,453	I	-
Common Stock	09/18/2025		S		40,208	D	$14.07	2,886,245	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

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	09/19/2025
	Boaz Weinstein	09/19/2025
	** 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 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 transactions did Saba Capital report for HQL?

The filer reported sales of 24,328 shares on 09/17/2025 at $13.99 and 40,208 shares on 09/18/2025 at $14.07.

How many HQL shares does Saba Capital beneficially own after these transactions?

After the 09/17/2025 sale, Saba reported 2,926,453 shares indirectly owned; after the 09/18/2025 sale, 2,886,245 shares indirectly owned.

Who signed the Form 4 for Saba Capital for these HQL transactions?

The Form 4 is signed by Zachary Gindes and Boaz Weinstein with signature dates of 09/19/2025.

What relationship does the reporting person have to HQL?

The filing identifies the reporting person as a Director of the issuer.

Do these filings indicate derivative transactions for HQL?

No. Table II for derivative securities contains no reported transactions; only non-derivative common stock sales are listed.