Company: HQL
Filing Date: 2025-12-08
Form Type: N-CSR
Source: 0001104659-25-119341
Chunk: 13

Company: abrdn Life Sciences Investors
Filing Date: 2025-12-08
Form: N-CSR
Chunk 13
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 shares of the Fund’s common stock were purchased at the closing market price as of the beginning of the period, dividends,              
 capital gains and other distributions were reinvested as provided for in the Fund’s dividend reinvestment plan and then sold at the closing market price per share on the last day of the period. The computation 
 does not reflect any sales commission investors may incur in purchasing or selling shares of the Fund. The total investment return based on the net asset value is similarly computed except that the Fund’s net  
 asset value is substituted for the closing market value.                                                                                                                                                          |
| (e) | The total return shown above includes the impact of financial statement rounding of the NAV per share and/or financial statement adjustments.                                                                     |

Amounts listed as “–” are $0 or round to $0. See accompanying Notes to Financial Statements.

| 16 | abrdn Life Sciences Investors |

Notes to Financial Statements September 30, 2025 1. Organization abrdn Life Sciences Investors (the "Fund") is a Massachusetts business trust formed on February 20, 1992, and registered under the Investment Company Act of 1940 as a non-diversified closed-end management investment company. The Fund commenced operations on May 8, 1992. The Fund’s investment objective is to seek long-term capital appreciation by investing primarily in equity and related securities (including securities subject to legal or contractual restrictions on resale) of U.S. and foreign companies principally engaged in the development, production or distribution of products or services related to scientific advances in life sciences (including biotechnology, pharmaceuticals, diagnostics, managed healthcare and medical equipment, hospitals, healthcare information technology and services, devices, supplies and other healthcare-related subsectors), agriculture and environmental management ("Life Sciences Companies"). The Fund invests primarily in securities of public and private companies that are believed by the Fund’s investment adviser, abrdn Inc. (the "Investment Adviser," the "Adviser" or "Aberdeen") to have significant potential for above-average growth. The Fund may invest up to 20% of its net assets in securities of foreign issuers, expected to be located primarily in Western Europe, Canada and Japan, and securities of U.S. issuers that are traded primarily in foreign markets. 2. Summary of Significant Accounting Policies The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946 Financial Services-Investment