[Form 4] abrdn Life Sciences Investors Insider Trading Activity

Rhea-AI Filing Summary

Saba Capital Management, L.P. reported insider sales of abrdn Life Sciences Investors (HQL) common stock on a Form 4. The filing lists two dispositions: 6,989 shares sold on 09/19/2025 at $14.10 and 41,623 shares sold on 09/22/2025 at $14.14. After the reported transactions, Saba Capital’s beneficial ownership is shown as 2,837,633 shares (indirect), down from 2,879,256 shares following the earlier sale. The Form identifies the reporting entity as Saba Capital Management, L.P., with signatures dated 09/23/2025.

Positive

• Timely and complete disclosure of insider transactions via Form 4 with dates, amounts, and prices
• Clear change in beneficial ownership is reported, improving transparency for investors

Negative

• Insider dispositions totaled 48,612 shares, reducing the indirect stake from 2,879,256 to 2,837,633 shares
• No explanation provided for the sales in the filing (reasons for disposition not disclosed)

Insights

Securities/Financial Analyst

TL;DR: Insider sales reduced Saba Capital's indirect stake by 41,623 shares; transactions were disclosed on Form 4.

The Form 4 shows routine disclosure of two stock dispositions in HQL totaling 48,612 shares reported across 09/19/2025 and 09/22/2025. The filings document a decrease in indirect beneficial ownership from 2,879,256 shares to 2,837,633 shares. There is no accompanying information about reasons for the sales or any derivative activity disclosed. For investors, the record provides clear transactional detail but no new operating or financial information about the issuer.

Corporate Governance Expert

TL;DR: Form 4 is a standard insider reporting disclosure; it increases transparency but does not indicate governance changes.

The filing is properly signed and dated and lists relationship checkboxes that identify the reporting person as a director and 10% owner. The report shows only non-derivative share dispositions; there are no grants, option exercises, or new derivative positions reported. From a governance perspective, the filing fulfills Section 16 reporting obligations but does not signal changes in board composition or control.

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
Estimated average burden
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)
09/19/2025

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	09/19/2025		S		6,989	D	$14.1	2,879,256	I	-
Common Stock	09/22/2025		S		41,623	D	$14.14	2,837,633	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	09/23/2025
	Boaz Weinstein	09/23/2025
	** 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 transactions were reported on the HQL Form 4?

The Form 4 reports two dispositions: 6,989 shares sold on 09/19/2025 at $14.10 and 41,623 shares sold on 09/22/2025 at $14.14.

How did Saba Capital's beneficial ownership of HQL change?

Beneficial ownership decreased from 2,879,256 shares to 2,837,633 shares following the reported sales.

Who filed the Form 4 for HQL?

The reporting person is Saba Capital Management, L.P., with signatures dated 09/23/2025.

Does the Form 4 show any derivative transactions for HQL?

No. Table II is empty and the filing discloses only non-derivative common stock dispositions.

Does the filing explain why the shares were sold?

No. The Form 4 lists the transactions and ownership amounts but does not provide reasons for the dispositions.