Company: HQL
Filing Date: 2025-06-09
Form Type: N-CSRS
Source: 0001104659-25-057746
Chunk: 7

Company: abrdn Life Sciences Investors
Filing Date: 2025-06-09
Form: N-CSRS
Chunk 7
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 the dividend reinvestment program sponsored by the Fund’s transfer agent. All return data at NAV includes fees charged to the Fund, which are listed in the Fund’s Statement of Operations under “Expenses.” Total investment return at market value is based on changes in the market price at which the Fund’s shares traded on the NYSE during the period and assumes reinvestment of dividends and distributions, if any, at market prices pursuant to the dividend reinvestment program sponsored by the Fund’s transfer agent. The Fund’s total investment return is based on the reported NAV as of the financial reporting period end date of March 31, 2025. Because the Fund’s shares trade in the stock market based on investor demand, the Fund may trade at a price higher or lower than its NAV. Therefore, returns are calculated based on both market price and NAV. Past performance is no guarantee of future results. The performance information provided does not reflect the deduction of taxes that a shareholder would pay on distributions received from the Fund or the sale of Fund shares. The current performance of the Fund may be lower or higher than the figures shown. The Fund’s yield, return, market price and NAV will fluctuate. Performance information current to the most recent month-end is available at https://www.aberdeeninvestments.com/en-us/investor/investment-solutions/closed-end-funds or by calling 800-522-5465. The annualized gross operating expense ratio based on the six-month period ended March 31, 2025 was 1.25%.

| 4 | abrdn Life Sciences Investors |

Portfolio Summary (as a percentage of net assets) (unaudited) As of March 31, 2025

The following table summarizes the composition of the Fund’s portfolio by asset allocation.

| Asset Allocation                      |        |
| Common Stocks                         | 87.4%  |
| Convertible Preferred Stocks          | 7.9%   |
| Milestone Interests                   | 3.6%   |
| Convertible Notes                     | 0.3%   |
| Warrants                              | 0.0%   |
| Short-Term Investments                | 3.1%   |
| Call Options Written                  | -      |
| Liabilities in Excess of Other Assets | -2.3%  |
|                                       | 100.0% |

The following table summarizes the industry composition of the Fund’s portfolio, in S&P Global Inc.’s Global Industry Classification Standard (“GICS”) Industries