# EDGAR Filing Document

**Accession Number:** 0001604522
**File Stem:** 0001410368-26-020669
**Filing Date:** 2026-2
**Character Count:** 77462
**Document Hash:** 6d937f104ed976c5b7b5542046596dd3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-020669.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001410368-26-020669

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** abrdn Healthcare Opportunities Fund
- **CENTRAL INDEX KEY:** 0001604522

**ORGANIZATION NAME:**
- **EIN:** 465317248
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22955
- **FILM NUMBER:** 26698203

**BUSINESS ADDRESS:**
- **STREET 1:** 1900 MARKET STREET
- **STREET 2:** SUITE 200
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103
- **BUSINESS PHONE:** 617-772-8500

**MAIL ADDRESS:**
- **STREET 1:** 1900 MARKET STREET
- **STREET 2:** SUITE 200
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tekla Healthcare Opportunities Fund
- **DATE OF NAME CHANGE:** 20140407

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tekla Healthcare Growth & Income Fund
- **DATE OF NAME CHANGE:** 20140402

## Nport-Ex

### Portfolio of Investments (unaudited) <br> As of December 31, 2025

#### abrdn Healthcare Opportunities Fund

------

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Shares or<br> Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**Convertible Preferred Stocks<sup>(a)</sup><sup>,(b)</sup><sup>,(c)</sup>—3.2%** | &nbsp;&nbsp;**Convertible Preferred Stocks<sup>(a)</sup><sup>,(b)</sup><sup>,(c)</sup>—3.2%** | &nbsp;&nbsp;**Convertible Preferred Stocks<sup>(a)</sup><sup>,(b)</sup><sup>,(c)</sup>—3.2%** |
| &nbsp;&nbsp;**Biotechnology—2.2%** | &nbsp;&nbsp;**Biotechnology—2.2%** | &nbsp;&nbsp;**Biotechnology—2.2%** |
| &nbsp;&nbsp;Abcuro, Inc. Series B | &nbsp;&nbsp;&nbsp; 601124 | &nbsp;&nbsp;$3299990 |
| &nbsp;&nbsp;Abcuro, Inc. Series C1 | &nbsp;&nbsp; 133045 | &nbsp;&nbsp;&nbsp;&nbsp; 803419 |
| &nbsp;&nbsp;Atalanta Therapeutics, Inc. Series B | &nbsp;&nbsp; 1944444 | &nbsp;&nbsp;&nbsp;&nbsp; 1750000 |
| &nbsp;&nbsp;Glycomine, Inc. Series C, 8.00% | &nbsp;&nbsp; 6872036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4123222 |
| &nbsp;&nbsp;Seismic Therapeutics, Inc. Series B | &nbsp;&nbsp; 730764 | &nbsp;&nbsp;&nbsp;&nbsp; 3299984 |
| &nbsp;&nbsp;Third Arc Bio, Inc. Series A, 8.00% | &nbsp;&nbsp; 2091056 | &nbsp;&nbsp;&nbsp;&nbsp; 4400000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17676615** |
| &nbsp;&nbsp;**Health Care Equipment & Supplies—0.0%** | &nbsp;&nbsp;**Health Care Equipment & Supplies—0.0%** | &nbsp;&nbsp;**Health Care Equipment & Supplies—0.0%** |
| &nbsp;&nbsp;IO Light Holdinigs, Inc. Series A2 | &nbsp;&nbsp; 189858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| &nbsp;&nbsp;**Pharmaceuticals—1.0%** | &nbsp;&nbsp;**Pharmaceuticals—1.0%** | &nbsp;&nbsp;**Pharmaceuticals—1.0%** |
| &nbsp;&nbsp;Crystalys Therapeutics, Inc. Series A | &nbsp;&nbsp;&nbsp; 2508159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2512799 |
| &nbsp;&nbsp;Endeavor Group Holdings, Inc. Series B, 8.00% | &nbsp;&nbsp;&nbsp; 742138 | &nbsp;&nbsp;&nbsp;&nbsp; 3499997 |
| &nbsp;&nbsp;Endeavor Group Holdings, Inc. Series C, 8.00% | &nbsp;&nbsp;&nbsp; 137039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 894125 |
| &nbsp;&nbsp;Engrail Therapeutics, Inc., 8.00% | &nbsp;&nbsp;&nbsp; 1652502 | &nbsp;&nbsp;&nbsp;&nbsp; 985056 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7891977** |
| &nbsp;&nbsp;**Total Convertible Preferred Stocks** | &nbsp;&nbsp;**Total Convertible Preferred Stocks** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25568611** |
| &nbsp;&nbsp;**Non-Convertible Notes—18.8%** |  |  |
| &nbsp;&nbsp;**Biotechnology—3.3%** | &nbsp;&nbsp;**Biotechnology—3.3%** | &nbsp;&nbsp;**Biotechnology—3.3%** |
| &nbsp;&nbsp;AbbVie, Inc., 3.20%, 05/14/26 | $3245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3237740 |
| &nbsp;&nbsp;AbbVie, Inc., 4.25%, 11/14/28 | &nbsp;&nbsp;&nbsp;5303000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5361760 |
| &nbsp;&nbsp;AbbVie, Inc., 4.45%, 05/14/46 | &nbsp;&nbsp;&nbsp;3080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2677085 |
| &nbsp;&nbsp;Amgen, Inc., 3.20%, 11/02/27 | &nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2172146 |
| &nbsp;&nbsp;Amgen, Inc., 2.00%, 01/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;2795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2435067 |
| &nbsp;&nbsp;Gilead Sciences, Inc., 2.95%, 03/01/27 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9901775 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**25785573** |
| &nbsp;&nbsp;**Health Care Equipment & Supplies—3.0%** | &nbsp;&nbsp;**Health Care Equipment & Supplies—3.0%** | &nbsp;&nbsp;**Health Care Equipment & Supplies—3.0%** |
| &nbsp;&nbsp;Abbott Laboratories, 4.75%, 11/30/36 | &nbsp;&nbsp;10498000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10562479 |
| &nbsp;&nbsp;Becton Dickinson & Co., 3.70%, 06/06/27 | &nbsp;&nbsp;&nbsp;&nbsp;2413000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2402916 |
| &nbsp;&nbsp;DH Europe Finance II SARL, 3.25%, 11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;1760000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441586 |
| &nbsp;&nbsp;Stryker Corp., 3.65%, 03/07/28 | &nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3480139 |
| &nbsp;&nbsp;Zimmer Biomet Holdings, Inc., 4.25%, 08/15/35 | &nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5577708 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23464828** |
| &nbsp;&nbsp;**Health Care Providers & Services—7.4%** | &nbsp;&nbsp;**Health Care Providers & Services—7.4%** | &nbsp;&nbsp;**Health Care Providers & Services—7.4%** |
| &nbsp;&nbsp;Cigna Group, 4.38%, 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;1504000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1517672 |
| &nbsp;&nbsp;Cigna Group, 2.38%, 03/15/31 | &nbsp;&nbsp;&nbsp;5800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5249473 |
| &nbsp;&nbsp;Cigna Group, 6.13%, 11/15/41 | &nbsp;&nbsp;&nbsp;8250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8722777 |
| &nbsp;&nbsp;CVS Health Corp., 4.30%, 03/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791613 |
| &nbsp;&nbsp;CVS Health Corp., 1.88%, 02/28/31 | &nbsp;&nbsp;&nbsp;4400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3860541 |
| &nbsp;&nbsp;CVS Health Corp., 4.78%, 03/25/38 | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982214 |
| &nbsp;&nbsp;CVS Health Corp., 5.05%, 03/25/48 | &nbsp;&nbsp;&nbsp;3700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3261734 |
| &nbsp;&nbsp;Elevance Health, Inc., 4.10%, 03/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;2975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2977802 |
| &nbsp;&nbsp;Elevance Health, Inc., 2.55%, 03/15/31 | &nbsp;&nbsp;&nbsp;5800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5295387 |
| &nbsp;&nbsp;Elevance Health, Inc., 4.65%, 08/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;2325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049131 |
| &nbsp;&nbsp;UnitedHealth Group, Inc., 3.85%, 06/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;1460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1458454 |
| &nbsp;&nbsp;UnitedHealth Group, Inc., 3.88%, 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;4970000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4966166 |
| &nbsp;&nbsp;UnitedHealth Group, Inc., 4.20%, 05/15/32 | &nbsp;&nbsp;10940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800799 |
| &nbsp;&nbsp;UnitedHealth Group, Inc., 4.50%, 04/15/33 | &nbsp;&nbsp;&nbsp;5800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5766772 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**58700535** |

---

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Shares or<br> Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**Life Sciences Tools & Services—0.8%** | &nbsp;&nbsp;**Life Sciences Tools & Services—0.8%** | &nbsp;&nbsp;**Life Sciences Tools & Services—0.8%** |
| &nbsp;&nbsp;Thermo Fisher Scientific, Inc., 5.40%, 08/10/43 | $6500000 | &nbsp;&nbsp;$6538292 |
| &nbsp;&nbsp;**Pharmaceuticals—4.3%** | &nbsp;&nbsp;**Pharmaceuticals—4.3%** | &nbsp;&nbsp;**Pharmaceuticals—4.3%** |
| &nbsp;&nbsp;AstraZeneca PLC, 6.45%, 09/15/37<sup>(d)</sup> | &nbsp;&nbsp; 4750000 | &nbsp;&nbsp;&nbsp;&nbsp; 5414036 |
| &nbsp;&nbsp;Bristol-Myers Squibb Co., 3.40%, 07/26/29 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2060292 |
| &nbsp;&nbsp;IQVIA, Inc., 5.00%, 05/15/27<sup>(e)</sup> | &nbsp;&nbsp; 1290000 | &nbsp;&nbsp;&nbsp;&nbsp; 1289647 |
| &nbsp;&nbsp;Johnson & Johnson, 2.90%, 01/15/28 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2170642 |
| &nbsp;&nbsp;Johnson & Johnson, 3.70%, 03/01/46 | &nbsp;&nbsp;&nbsp;10130000 | &nbsp;&nbsp;&nbsp;&nbsp; 8208838 |
| &nbsp;&nbsp;Merck & Co., Inc., 3.40%, 03/07/29 | 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3936264 |
| &nbsp;&nbsp;Pfizer, Inc., 3.45%, 03/15/29 | &nbsp;&nbsp; 8100000 | &nbsp;&nbsp;&nbsp;&nbsp; 8004931 |
| &nbsp;&nbsp;Pfizer, Inc., 4.00%, 12/15/36 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp;&nbsp;&nbsp; 3001339 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**34085989** |
| &nbsp;&nbsp;**Total Non-Convertible Notes** | &nbsp;&nbsp;**Total Non-Convertible Notes** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**148575217** |
| &nbsp;&nbsp;**Common Stocks—105.0%** |  |  |
| &nbsp;&nbsp;**Biotechnology—22.2%** | &nbsp;&nbsp;**Biotechnology—22.2%** | &nbsp;&nbsp;**Biotechnology—22.2%** |
| &nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp; 249937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57108105 |
| &nbsp;&nbsp;Abivax SA, ADR<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 51730 | &nbsp;&nbsp;&nbsp;&nbsp; 6976049 |
| &nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5207175 |
| &nbsp;&nbsp;Arcus Biosciences, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006584 |
| &nbsp;&nbsp;ARS Pharmaceuticals, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1417732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16516578 |
| &nbsp;&nbsp;BioCryst Pharmaceuticals, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2602220 |
| &nbsp;&nbsp;CareDx, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3983417 |
| &nbsp;&nbsp;Cytokinetics, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4136263 |
| &nbsp;&nbsp;Disc Medicine, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5310067 |
| &nbsp;&nbsp;Myriad Genetics, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5447676 |
| &nbsp;&nbsp;Praxis Precision Medicines, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10936917 |
| &nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11778736 |
| &nbsp;&nbsp;Sarepta Therapeutics, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19232855 |
| &nbsp;&nbsp;Sera Prognostics, Inc., Class A<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1133977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345232 |
| &nbsp;&nbsp;uniQure NV<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11484127 |
| &nbsp;&nbsp;Vericel Corp.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8624719 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**175696720** |
| &nbsp;&nbsp;**Financial Services—0.3%** | &nbsp;&nbsp;**Financial Services—0.3%** | &nbsp;&nbsp;**Financial Services—0.3%** |
| &nbsp;&nbsp;Perceptive Capital Solutions Corp.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2770178 |
| &nbsp;&nbsp;**Health Care Equipment & Supplies—27.4%** | &nbsp;&nbsp;**Health Care Equipment & Supplies—27.4%** | &nbsp;&nbsp;**Health Care Equipment & Supplies—27.4%** |
| &nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49747646 |
| &nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20935884 |
| &nbsp;&nbsp;Boston Scientific Corp.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19837472 |
| &nbsp;&nbsp;Dexcom, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7599498 |
| &nbsp;&nbsp;Inspire Medical Systems, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17809152 |
| &nbsp;&nbsp;InspireMD, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1059385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885705 |
| &nbsp;&nbsp;Insulet Corp.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14625569 |
| &nbsp;&nbsp;Intuitive Surgical, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31861148 |
| &nbsp;&nbsp;Lucid Diagnostics, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;3457894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3769104 |
| &nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33744917 |
| &nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9665777 |
| &nbsp;&nbsp;Tandem Diabetes Care, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5687853 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**217169725** |
| &nbsp;&nbsp;**Health Care Providers & Services—16.2%** | &nbsp;&nbsp;**Health Care Providers & Services—16.2%** | &nbsp;&nbsp;**Health Care Providers & Services—16.2%** |
| &nbsp;&nbsp;Acadia Healthcare Co., Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5940317 |
| &nbsp;&nbsp;Biodesix, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1784490 |
| &nbsp;&nbsp;Community Health Systems, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1133006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3534979 |
| &nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18895854 |
| &nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19508108 |
| &nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4988399 |

---

See accompanying Notes to Portfolio of Investments.

------

### Portfolio of Investments (unaudited) (concluded)<br> As of December 31, 2025

#### abrdn Healthcare Opportunities Fund

------

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Shares or<br> Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;**Common Stocks (continued)** |  |  |
| &nbsp;&nbsp;**Health Care Providers & Services (continued)** | &nbsp;&nbsp;**Health Care Providers & Services (continued)** | &nbsp;&nbsp;**Health Care Providers & Services (continued)** |
| &nbsp;&nbsp;Humana, Inc. | &nbsp;&nbsp; 85345 | &nbsp;&nbsp;$21859415 |
| &nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp; 6735 | &nbsp;&nbsp;&nbsp;&nbsp; 5524653 |
| &nbsp;&nbsp;Molina Healthcare, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 71056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12331058 |
| &nbsp;&nbsp;NeoGenomics, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 1017151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11961696 |
| &nbsp;&nbsp;Tenet Healthcare Corp.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 25976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5161951 |
| &nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp; 49473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16331532 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**127822452** |
| &nbsp;&nbsp;**Health Care REITs—8.3%** | &nbsp;&nbsp;**Health Care REITs—8.3%** | &nbsp;&nbsp;**Health Care REITs—8.3%** |
| &nbsp;&nbsp;Diversified Healthcare Trust, REIT | &nbsp;&nbsp; 293879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1425313 |
| &nbsp;&nbsp;Global Medical REIT, Inc. | &nbsp;&nbsp; 6333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213675 |
| &nbsp;&nbsp;Healthcare Realty Trust, Inc., REIT | &nbsp;&nbsp;&nbsp; 77778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1318337 |
| &nbsp;&nbsp;Healthpeak Properties, Inc., REIT | &nbsp;&nbsp; 620394 | &nbsp;&nbsp;&nbsp;&nbsp; 9975936 |
| &nbsp;&nbsp;LTC Properties, Inc., REIT | &nbsp;&nbsp; 166842 | &nbsp;&nbsp;&nbsp;&nbsp; 5736028 |
| &nbsp;&nbsp;Medical Properties Trust, Inc., REIT | &nbsp;&nbsp; 266557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1332785 |
| &nbsp;&nbsp;National Health Investors, Inc., REIT | &nbsp;&nbsp; 5596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 427367 |
| &nbsp;&nbsp;Omega Healthcare Investors, Inc., REIT | &nbsp;&nbsp;&nbsp; 297889 | &nbsp;&nbsp;&nbsp;&nbsp; 13208398 |
| &nbsp;&nbsp;Sabra Health Care REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11872766 |
| &nbsp;&nbsp;Ventas, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9388980 |
| &nbsp;&nbsp;Welltower, Inc., REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10749603 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**65649188** |
| &nbsp;&nbsp;**Life Sciences Tools & Services—11.0%** | &nbsp;&nbsp;**Life Sciences Tools & Services—11.0%** | &nbsp;&nbsp;**Life Sciences Tools & Services—11.0%** |
| &nbsp;&nbsp;Charles River Laboratories International, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6579648 |
| &nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34549064 |
| &nbsp;&nbsp;ICON PLC<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3955814 |
| &nbsp;&nbsp;IQVIA Holdings, Inc.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4445762 |
| &nbsp;&nbsp;Repligen Corp.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8902514 |
| &nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28523426 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**86956228** |
| &nbsp;&nbsp;**Pharmaceuticals—19.6%** | &nbsp;&nbsp;**Pharmaceuticals—19.6%** | &nbsp;&nbsp;**Pharmaceuticals—19.6%** |
| &nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26817781 |

---

---

| | | |
|:---|:---|:---|
| | &nbsp;&nbsp;**Shares or<br> Principal<br> Amount** | **Value** |
| &nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp; 42727 | &nbsp;&nbsp;$45917852 |
| &nbsp;&nbsp;Fusion Pharmaceuticals, Inc. CVR<sup>(a)</sup><sup>,(b)</sup> | &nbsp;&nbsp;&nbsp; 7160 | &nbsp;&nbsp;&nbsp;&nbsp; 9881 |
| &nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp;&nbsp; 459113 | &nbsp;&nbsp;&nbsp;&nbsp; 48326235 |
| &nbsp;&nbsp;Oculis Holding AG<sup>(b)</sup><sup>,(d)</sup> | &nbsp;&nbsp; 569796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11378826 |
| &nbsp;&nbsp;Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; 177071 | &nbsp;&nbsp;&nbsp;&nbsp; 22279073 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**154729648** |
| &nbsp;&nbsp;**Total Common Stocks** | &nbsp;&nbsp;**Total Common Stocks** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**830794139** |
| &nbsp;&nbsp;**Short-Term Investment—2.1%** | &nbsp;&nbsp;**Short-Term Investment—2.1%** | &nbsp;&nbsp;**Short-Term Investment—2.1%** |
| &nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class, 3.74%<sup>(f)</sup> | &nbsp;&nbsp;16708300 | &nbsp;&nbsp;&nbsp;&nbsp; 16708300 |
| &nbsp;&nbsp;**Total Short-Term Investment** | &nbsp;&nbsp;**Total Short-Term Investment** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16708300** |
| &nbsp;&nbsp;**Total Investments (Cost $876,472,372)—129.6%** | &nbsp;&nbsp;**Total Investments (Cost $876,472,372)—129.6%** | &nbsp;&nbsp;&nbsp;&nbsp;**1025146266** |
| &nbsp;&nbsp;Long Term Debt Securities—(28.4%) | &nbsp;&nbsp;Long Term Debt Securities—(28.4%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(225000000) |
| &nbsp;&nbsp;Liabilities in Excess of Other Assets—(1.2%) | &nbsp;&nbsp;Liabilities in Excess of Other Assets—(1.2%) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9163736) |
| &nbsp;&nbsp;**Net Assets—100.0%** | &nbsp;&nbsp;**Net Assets—100.0%** | &nbsp;&nbsp;&nbsp;**$790982530** |

---

(a) Level 3 security. See Note 1(a) of the accompanying Notes to Portfolio of Investments.

(b) Non-income producing security.

(c) Restricted security.

(d) Foreign security.

(e) Denotes a security issued under Regulation S or Rule 144A.

(f) Registered investment company advised by State Street Investment Management. The rate shown is the 7 day yield as of December 31, 2025.

---

| | |
|:---|:---|
| ADR | American Depositary Receipt |
| CVR | Contingent Value Right |
| PLC | Public Limited Company |
| REIT | Real Estate Investment Trust |

---

See accompanying Notes to Portfolio of Investments.

------

Notes to Portfolio of Investments <br> December 31, 2025 (unaudited)

------

1. Summary of Significant Accounting Policies

a. Security Valuation:

The Fund values its securities at fair value, consistent with regulatory requirements. "Fair value" is defined in the Fund's Valuation and Liquidity Procedures as the price that could be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants without a compulsion to transact at the measurement date, also referred to as market value. Pursuant to Rule 2a-5 under the 1940 Act, the Board of Trustees (the "Board") designated Aberdeen as the valuation designee ("Valuation Designee") for the Fund to perform the fair value determinations relating to Fund investments for which market quotations are not readily available or deemed unreliable and the Fund's investments in securities of early and/or later stage financing of a privately held companies ("Venture Capital Securities").

Long-term debt and other fixed-income securities are valued at the last quoted or evaluated bid price on the valuation date provided by an independent pricing service provider. If there are no current day bids, the security is valued at the previously applied bid. Pricing services generally price debt securities assuming orderly transactions of an institutional "round lot" size and the strategies employed by the Valuation Designee generally trade in round lot sizes. In certain circumstances, some trades may occur in smaller "odd lot" sizes which may be effected at lower, or higher, prices than institutional round lot trades. Short-term debt securities (such as commercial paper and U.S. treasury bills) having a remaining maturity of 60 days or less are valued at the last quoted or evaluated bid price on the valuation date provided by an independent pricing service, or on the basis of amortized cost, if it represents the best approximation of fair value. Debt and other fixed-income securities are generally determined to be Level 2 investments.

Equity securities that are traded on an exchange are valued at the last quoted sale price or the official close price on the principal exchange on which the security is traded at the "Valuation Time" subject to application, when appropriate, of the valuation factors described in the paragraph below. Under normal circumstances, the Valuation Time is as of the close of regular trading on the New York Stock Exchange ("NYSE") (usually 4:00 p.m. Eastern Time). In the absence of a sale price, the security is valued at the mean of the bid/ask price quoted at the close on the principal exchange on which the security is traded. Securities traded on NASDAQ are valued at the NASDAQ official closing price.

Convertible preferred shares, warrants or convertible note interests in Venture Capital Securities, milestone interests, and other restricted securities are typically valued in good faith, based upon the recommendations made by the Valuation Designee pursuant to fair valuation policies and procedures approved by the Board.

Derivative instruments are valued at fair value. Exchange-traded futures are generally Level 1 investments and centrally cleared swaps and forwards are generally Level 2 investments. Forward foreign currency contracts are generally valued based on the bid price of the forward rates and the current spot rate. Forward exchange rate quotations are available for scheduled settlement dates, such as 1-, 3-, 6-, 9- and 12-month periods. An interpolated valuation is derived based on the actual settlement dates of the forward contracts held. Futures contracts are valued at the settlement price or at the last bid price if no settlement price is available. Swap agreements are generally valued by an approved pricing agent based on the terms of the swap agreement (including future cash flows). When market quotations or exchange rates are not readily available, or if the Adviser concludes that such market quotations do not accurately reflect fair value, the fair value of the Fund's assets are determined in good faith in accordance with the Valuation Procedures.

Foreign equity securities that are traded on foreign exchanges that close prior to the Valuation Time are valued by applying valuation factors to the last sale price or the mean price as noted above. Valuation factors are provided by an independent pricing service provider. These valuation factors are used when pricing the Fund's portfolio holdings to estimate market movements between the time foreign markets close and the time the Fund values such foreign securities. These valuation factors are based on inputs such as depositary receipts, indices, futures, sector indices/ETFs, exchange rates, and local exchange opening and closing prices of each security. When prices with the application of valuation factors are utilized, the value assigned to the foreign securities may not be the same as quoted or published prices of the securities on their primary markets. A security that applies a valuation factor is generally determined to be a Level 2 investment because the exchange-traded price has been adjusted. Valuation factors are not utilized if the independent pricing service provider is unable to provide a valuation factor or if the valuation factor falls below a predetermined threshold; in such case, the security is determined to be a Level 1 investment.

Short-term investments are comprised of cash and cash equivalents invested in short-term investment funds which are redeemable daily. The Fund sweeps available cash into the State Street Institutional U.S. Government Money Market Fund, which has elected to qualify as a "government money market fund" pursuant to Rule 2a-7 under the 1940 Act, and has an objective, which is not guaranteed, to maintain a $1.00 per share NAV. Generally, these investment types are categorized as Level 1 investments.

In the event that a security's, other than a Venture Capital Security, market quotations are not readily available or are deemed unreliable (for reasons other than because the foreign exchange on which it trades closes before the Valuation Time), the security is valued at fair value as determined by the Valuation Designee, taking into account the relevant factors and surrounding circumstances using valuation policies and

**3** 

------

Notes to Portfolio of Investments (concluded)<br> December 31, 2025 (unaudited)

------

procedures approved by the Board. A security that has been fair valued by the Valuation Designee may be classified as Level 2 or Level 3 depending on the nature of the inputs.

Venture Capital Securities are valued based on a consideration of relevant factors, including both observable and unobservable inputs. Observable and unobservable inputs considered may include (i) the existence of any contractual restrictions on the disposition of securities; (ii) information obtained from the company, which may include an analysis of the company's financial statements, products, intended markets or technologies; (iii) the price of the same or similar security negotiated at arm's length in an issuer's completed subsequent round of financing; (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies; or (v) a probability and time value adjusted analysis of contractual terms. Where available and appropriate, multiple valuation methodologies are applied to confirm fair value. Significant unobservable inputs are often used in the fair value determination. A significant change in any of these inputs may result in a significant change in the fair value measurement. Additionally, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different from the valuations used at the date of these financial statements.

In accordance with the authoritative guidance on fair value measurements and disclosures under U.S. GAAP, the Fund discloses the fair value of its investments using a three-level hierarchy that classifies the inputs to valuation techniques used to measure the fair value. The hierarchy assigns Level 1, the highest level, measurements to valuations based upon unadjusted quoted prices in active markets for identical assets, Level 2 measurements to valuations based upon other significant observable inputs, including adjusted quoted prices in active markets for similar assets, and Level 3, the lowest level, measurements to valuations based upon unobservable inputs that are significant to the valuation. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value including a pricing model and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability, which are based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. A financial instrument's level within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement.

Open-end mutual funds are valued at the respective NAV as reported by such company. The prospectuses for the registered open-end management investment companies in which the Fund invests explain the circumstances under which those companies will use fair value pricing and the effects of using fair value pricing. Closed-end funds and exchange-traded funds ("ETFs") are valued at the market price of the security at the Valuation Time (defined below). A security using any of these pricing methodologies is generally determined to be a Level 1 investment.

The three-level hierarchy of inputs is summarized below:

Level 1 - quoted prices (unadjusted) in active markets for identical investments;

Level 2 - other significant observable inputs (including valuation factors, quoted prices for similar securities, interest rates, prepayment speeds, and credit risk, etc.); or

Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

Level 3 investments are valued using significant unobservable inputs. The derived value of a Level 3 investment may not represent the value which is received upon disposition and this could impact the results of operations.

**4**

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** abrdn Healthcare Opportunities Fund

- **b. Investment Company Act file number:** 811-22955

- **c. CIK number of Registrant:** 0001604522

- **d. LEI of Registrant:** 549300WT8EMZSV1XVW72

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1900 Market Street

  - **City:** PHILADELPHIA

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19103

  - **Telephone number:** 215-405-5700

**Item A.2. Information about the Series.**

- **a. Name of Series:** abrdn Healthcare Opportunities Fund

- **c. LEI of Series:** 549300WT8EMZSV1XVW72

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1027682870.90

**Total Liabilities:** $236700341.12

**Net Assets:** $790982529.78

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 5.74%                | 6.69%                | 0.93%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2663686.59             | $27099464.23                               |
| Month 2  | $14878314.39             | $53094914.46                               |
| Month 3  | $4378300.06              | $-23685051.60                              |

### Schedule of Portfolio Investments

| Name                                         | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Abbott Laboratories                          | Abbott Laboratories                                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    397060 | NS      | $49747647.40  | 6.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBOTT LABORATORIES                          | Abbott Laboratories                                        | CUSIP: 002824BG4<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |  10498000 | PA      | $10562479.35  | 1.34%             | 2036-11-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                   | AbbVie Inc                                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    249937 | NS      | $57108105.13  | 7.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                                   | AbbVie Inc                                                 | CUSIP: 00287YAW9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   3080000 | PA      | $2677085.12   | 0.34%             | 2046-05-14      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                   | AbbVie Inc                                                 | CUSIP: 00287YAY5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   3245000 | PA      | $3237740.06   | 0.41%             | 2026-05-14      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                   | AbbVie Inc                                                 | CUSIP: 00287YBF5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   5303000 | PA      | $5361760.05   | 0.68%             | 2028-11-14      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Abivax SA                                    | Abivax SA                                                  | CUSIP: 00370M103<br>LEI: 969500D8TMNB184OJU95 | Long             | EC               | CORP              | FR        |     51730 | NS      | $6976049.15   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc                     | Acadia Healthcare Co Inc                                   | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |    418627 | NS      | $5940317.13   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                                    | Amgen Inc                                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     15909 | NS      | $5207174.79   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                                    | Amgen Inc                                                  | CUSIP: 031162CQ1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2172146.17   | 0.27%             | 2027-11-02      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                    | Amgen Inc                                                  | CUSIP: 031162CZ1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   2795000 | PA      | $2435067.11   | 0.31%             | 2032-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc                          | Elevance Health Inc                                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |     55650 | NS      | $19508107.50  | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC                          | Elevance Health Inc                                        | CUSIP: 036752AG8<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   2975000 | PA      | $2977801.80   | 0.38%             | 2028-03-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                          | Elevance Health Inc                                        | CUSIP: 036752AP8<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   5800000 | PA      | $5295387.24   | 0.67%             | 2031-03-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Arcus Biosciences Inc                        | Arcus Biosciences Inc                                      | CUSIP: 03969F109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    126168 | NS      | $3006583.44   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC                              | AstraZeneca PLC                                            | CUSIP: 046353AD0<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | DBT              | CORP              | GB        |   4750000 | PA      | $5414035.56   | 0.68%             | 2037-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Becton Dickinson & Co                        | Becton Dickinson & Co                                      | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |    107878 | NS      | $20935883.46  | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| BECTON DICKINSON & CO                        | Becton Dickinson & Co                                      | CUSIP: 075887BW8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |   2413000 | PA      | $2402915.71   | 0.30%             | 2027-06-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BioCryst Pharmaceuticals Inc                 | BioCryst Pharmaceuticals Inc                               | CUSIP: 09058V103<br>LEI: 549300Z0INP1Z5NP6J59 | Long             | EC               | CORP              | US        |    333618 | NS      | $2602220.40   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Biodesix Inc                                 | Biodesix Inc                                               | CUSIP: 09075X207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    262425 | NS      | $1784490.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp                       | Boston Scientific Corp                                     | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    208049 | NS      | $19837472.15  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                      | Bristol-Myers Squibb Co                                    | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    497178 | NS      | $26817781.32  | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                      | Bristol-Myers Squibb Co                                    | CUSIP: 110122CP1<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2060292.21   | 0.26%             | 2029-07-26      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                              | Cigna Group/The                                            | CUSIP: 125523AH3<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1504000 | PA      | $1517671.53   | 0.19%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                              | Cigna Group/The                                            | CUSIP: 125523CD0<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   8250000 | PA      | $8722777.22   | 1.10%             | 2041-11-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                              | Cigna Group/The                                            | CUSIP: 125523CM0<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   5800000 | PA      | $5249472.93   | 0.66%             | 2031-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                              | CVS Health Corp                                            | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |    238103 | NS      | $18895854.08  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORP                              | CVS Health Corp                                            | CUSIP: 126650CX6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    789000 | PA      | $791613.04    | 0.10%             | 2028-03-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                              | CVS Health Corp                                            | CUSIP: 126650CY4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $1982214.49   | 0.25%             | 2038-03-25      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                              | CVS Health Corp                                            | CUSIP: 126650CZ1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   3700000 | PA      | $3261734.48   | 0.41%             | 2048-03-25      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                              | CVS Health Corp                                            | CUSIP: 126650DQ0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   4400000 | PA      | $3860541.12   | 0.49%             | 2031-02-28      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| CareDx Inc                                   | CareDx Inc                                                 | CUSIP: 14167L103<br>LEI: 549300NQOFKL9NON0U06 | Long             | EC               | CORP              | US        |    211434 | NS      | $3983416.56   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories International Inc | Charles River Laboratories International Inc               | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |     32984 | NS      | $6579648.32   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Health Systems Inc                 | Community Health Systems Inc                               | CUSIP: 203668108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1133006 | NS      | $3534978.72   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics Inc                             | Cytokinetics Inc                                           | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |     65097 | NS      | $4136263.38   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| DH EUROPE FINANCE II                         | DH Europe Finance II Sarl                                  | CUSIP: 23291KAJ4<br>LEI: 222100KDGL314CKTZ511 | Long             | DBT              | CORP              | LU        |   1760000 | PA      | $1441586.41   | 0.18%             | 2039-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Danaher Corp                                 | Danaher Corp                                               | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |    150922 | NS      | $34549064.24  | 4.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                                   | Dexcom Inc                                                 | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |    114502 | NS      | $7599497.74   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Disc Medicine Inc                            | Disc Medicine Inc                                          | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66869 | NS      | $5310067.29   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Diversified Healthcare Trust                 | Diversified Healthcare Trust                               | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               |  | US        |    293879 | NS      | $1425313.15   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA FUSION PHARMACE                       | CONTRA FUSION PHARMACE                                     | CUSIP: 361CVR012<br>LEI: N/A                  | N/A              | DE               |  | CA        |      7160 | NS      | $9880.80      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GILEAD SCIENCES INC                          | Gilead Sciences Inc                                        | CUSIP: 375558BM4<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9901774.80   | 1.25%             | 2027-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Global Medical REIT Inc                      | Global Medical REIT Inc                                    | CUSIP: 37954A303<br>LEI: 549300HFRIPQDYU3GU60 | Long             | EC               |  | US        |      6333 | NS      | $213675.42    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                           | HCA Healthcare Inc                                         | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     10685 | NS      | $4988399.10   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                  | Healthcare Realty Trust Inc                                | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               |  | US        |     77778 | NS      | $1318337.10   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                    | Healthpeak Properties Inc                                  | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               |  | US        |    620394 | NS      | $9975935.52   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                                   | Humana Inc                                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     85345 | NS      | $21859414.85  | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc                  | Inspire Medical Systems Inc                                | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |    193095 | NS      | $17809151.85  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| InspireMD Inc                                | InspireMD Inc                                              | CUSIP: 45779A846<br>LEI: 549300OQ16IJ5DIS5D30 | Long             | EC               | CORP              | US        |   1059385 | NS      | $1885705.30   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp                                 | Insulet Corp                                               | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |     51455 | NS      | $14625569.20  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                       | Intuitive Surgical Inc                                     | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     56256 | NS      | $31861148.16  | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc                           | IQVIA Holdings Inc                                         | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |     19723 | NS      | $4445761.43   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA INC                                    | IQVIA Inc                                                  | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1289647.06   | 0.16%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                            | Johnson & Johnson                                          | CUSIP: 478160BV5<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |  10130000 | PA      | $8208838.21   | 1.04%             | 2046-03-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                            | Johnson & Johnson                                          | CUSIP: 478160CK8<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2170642.17   | 0.27%             | 2028-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| LTC Properties Inc                           | LTC Properties Inc                                         | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               |  | US        |    166842 | NS      | $5736027.96   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                               | Eli Lilly & Co                                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     42727 | NS      | $45917852.36  | 5.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Lucid Diagnostics Inc                        | Lucid Diagnostics Inc                                      | CUSIP: 54948X109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3457894 | NS      | $3769104.46   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                                | McKesson Corp                                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      6735 | NS      | $5524653.15   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc                 | Medical Properties Trust Inc                               | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               |  | US        |    266557 | NS      | $1332785.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                               | Merck & Co Inc                                             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    459113 | NS      | $48326234.38  | 6.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO INC                               | Merck & Co Inc                                             | CUSIP: 58933YAX3<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3936264.16   | 0.50%             | 2029-03-07      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Molina Healthcare Inc                        | Molina Healthcare Inc                                      | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |     71056 | NS      | $12331058.24  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Myriad Genetics Inc                          | Myriad Genetics Inc                                        | CUSIP: 62855J104<br>LEI: 52990044IHUOUMETT163 | Long             | EC               | CORP              | US        |    885801 | NS      | $5447676.15   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors Inc                | National Health Investors Inc                              | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               |  | US        |      5596 | NS      | $427366.52    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NeoGenomics Inc                              | NeoGenomics Inc                                            | CUSIP: 64049M209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1017151 | NS      | $11961695.76  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc               | Omega Healthcare Investors Inc                             | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               |  | US        |    297889 | NS      | $13208398.26  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INC                                   | Pfizer Inc                                                 | CUSIP: 717081EC3<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |   3200000 | PA      | $3001338.69   | 0.38%             | 2036-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PFIZER INC                                   | Pfizer Inc                                                 | CUSIP: 717081ET6<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |   8100000 | PA      | $8004931.03   | 1.01%             | 2029-03-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Praxis Precision Medicines Inc               | Praxis Precision Medicines Inc                             | CUSIP: 74006W207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37107 | NS      | $10936917.18  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc                | Regeneron Pharmaceuticals Inc                              | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     15260 | NS      | $11778736.20  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corp                                | Repligen Corp                                              | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |     54330 | NS      | $8902513.80   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors                 | State Street Institutional US Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  16708300 | NS      | $16708299.72  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                   | Sabra Health Care REIT Inc                                 | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               |  | US        |    626862 | NS      | $11872766.28  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc                     | Sarepta Therapeutics Inc                                   | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |    893720 | NS      | $19232854.40  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Sera Prognostics Inc                         | Sera Prognostics Inc                                       | CUSIP: 81749D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1133977 | NS      | $3345232.15   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ARS Pharmaceuticals Inc                      | ARS Pharmaceuticals Inc                                    | CUSIP: 82835W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1417732 | NS      | $16516577.80  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                                 | Stryker Corp                                               | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     27501 | NS      | $9665776.47   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| STRYKER CORP                                 | Stryker Corp                                               | CUSIP: 863667AQ4<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3480138.45   | 0.44%             | 2028-03-07      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Tandem Diabetes Care Inc                     | Tandem Diabetes Care Inc                                   | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |    258774 | NS      | $5687852.52   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp                        | Tenet Healthcare Corp                                      | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     25976 | NS      | $5161950.72   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                 | Thermo Fisher Scientific Inc                               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     49225 | NS      | $28523426.25  | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC                     | Thermo Fisher Scientific Inc                               | CUSIP: 883556CY6<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6538291.89   | 0.83%             | 2043-08-10      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| ABCURO, INC.                                 | ABCURO, INC.                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    601124 | NS      | $3299990.42   | 0.42%             |  |  |  | Yes           |                  3 | On Loan: No      |
| UnitedHealth Group Inc                       | UnitedHealth Group Inc                                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     49473 | NS      | $16331532.03  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC                       | UnitedHealth Group Inc                                     | CUSIP: 91324PDK5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1460000 | PA      | $1458453.73   | 0.18%             | 2028-06-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                       | UnitedHealth Group Inc                                     | CUSIP: 91324PDP4<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   4970000 | PA      | $4966165.79   | 0.63%             | 2028-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                       | UnitedHealth Group Inc                                     | CUSIP: 91324PEJ7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |  10940000 | PA      | $10800799.22  | 1.37%             | 2032-05-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                       | UnitedHealth Group Inc                                     | CUSIP: 91324PEV0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   5800000 | PA      | $5766771.97   | 0.73%             | 2033-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ventas Inc                                   | Ventas Inc                                                 | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               |  | US        |    121336 | NS      | $9388979.68   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corp                                 | Vericel Corp                                               | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |    239509 | NS      | $8624719.09   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ENDEAVOR BIOMEDICINES, INC.                  | ENDEAVOR BIOMEDICINES, INC.                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    742138 | NS      | $3499997.02   | 0.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ENGRAIL THERAPEUTICS INC. SERI               | ENGRAIL THERAPEUTICS INC. SERI                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1652502 | NS      | $985056.44    | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ELEVANCE HEALTH INC                          | Elevance Health Inc                                        | CUSIP: 94973VBK2<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   2325000 | PA      | $2049130.73   | 0.26%             | 2044-08-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Welltower Inc                                | Welltower Inc                                              | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               |  | US        |     57915 | NS      | $10749603.15  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ENDEAVOR BIOMEDICINES INC.                   | ENDEAVOR BIOMEDICINES INC.                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    137039 | NS      | $894124.66    | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| THIRD ARC BIO, INC                           | THIRD ARC BIO, INC                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2091056 | NS      | $4400000.04   | 0.56%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GLYCOMINE, INC.                              | GLYCOMINE, INC.                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   6872036 | NS      | $4123221.60   | 0.52%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SEISMIC THERAPEUTICS, INC.                   | SEISMIC THERAPEUTICS, INC.                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    730764 | NS      | $3299984.07   | 0.42%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ATALANTA THERAPEUTICS                        | ATALANTA THERAPEUTICS                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1944444 | NS      | $1749999.60   | 0.22%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ABCURO INC.                                  | ABCURO INC.                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    133045 | NS      | $803418.84    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CRYSTALYS THERAPEUTICS SER A                 | CRYSTALYS THERAPEUTICS SER A                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2508159 | NS      | $2512799.09   | 0.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| IO LIGHT HOLDINIGS, INC.                     | IO LIGHT HOLDINIGS, INC.                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    189858 | NS      | $18.99        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS                       | Zimmer Biomet Holdings Inc                                 | CUSIP: 98956PAG7<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5577707.76   | 0.71%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc                                   | Zoetis Inc                                                 | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |    177071 | NS      | $22279073.22  | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| VERADERMICS, INC.                            | VERADERMICS, INC.                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2750923 | NS      | $3499999.33   | 0.44%             |  |  |  | No            |                  3 | On Loan: No      |
| ICON PLC                                     | ICON PLC                                                   | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |     21709 | NS      | $3955813.98   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                | Medtronic PLC                                              | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    351290 | NS      | $33744917.40  | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Perceptive Capital Solutions Corp            | Perceptive Capital Solutions Corp                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    212600 | NS      | $2770178.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Oculis Holding AG                            | Oculis Holding AG                                          | CUSIP: 000000000<br>LEI: 5067005370C2KK324336 | Long             | EC               | CORP              | CH        |    569796 | NS      | $11378826.12  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| uniQure NV                                   | uniQure NV                                                 | CUSIP: 000000000<br>LEI: 724500RPCTZLFYJZ3S98 | Long             | EC               | CORP              | NL        |    479905 | NS      | $11484126.65  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** abrdn Healthcare Opportunities Fund

**Signature:** Sharon Ferrari

**Name of Signer:** Sharon Ferrari

**Title:** Assistant Treasurer