<SEC-DOCUMENT>0001410368-25-032525.txt : 20251126
<SEC-HEADER>0001410368-25-032525.hdr.sgml : 20251126
<ACCEPTANCE-DATETIME>20251126152658
ACCESSION NUMBER:		0001410368-25-032525
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250930
FILED AS OF DATE:		20251126
DATE AS OF CHANGE:		20251126
PERIOD START:           	20250930

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			abrdn Life Sciences Investors
		CENTRAL INDEX KEY:			0000884121
		ORGANIZATION NAME:           	
		EIN:				043147016
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06565
		FILM NUMBER:		251529427

	BUSINESS ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		6177728515

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TEKLA LIFE SCIENCES INVESTORS
		DATE OF NAME CHANGE:	20141015

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	H&Q LIFE SCIENCES INVESTORS
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Illumina Inc</name>
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        <name>Equillium Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ABCURO, INC.</name>
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        <name>ENDEAVOR BIOMEDICINES INC.</name>
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        <name>Options Clearing Corp.</name>
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        <name>Guardant Health Inc</name>
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        <name>Tempus AI Inc</name>
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        <name>Axsome Therapeutics Inc</name>
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        <name>Centessa Pharmaceuticals PLC</name>
        <lei>213800GIDAARDSKOI827</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Krystal Biotech Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HOTSPOT THERAPEUTICS, INC.</name>
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        <fairValLevel>3</fairValLevel>
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              <counterpartyName>N/A</counterpartyName>
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                <issuerName>Spectrum Pharmaceuticals, Inc.</issuerName>
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      <invstOrSec>
        <name>QLARIS BIO, INC.</name>
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          <other otherDesc="Internal Identifier" value="948MXZ905"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>NEUROVANCE MILESTONE INTEREST</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="931UVM907"/>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ardelyx Inc</name>
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        <title>Ardelyx Inc</title>
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          <isin value="US0396971071"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jazz Pharmaceuticals PLC</name>
        <lei>635400GAUMJCLEZRRV50</lei>
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          <isin value="IE00B4Q5ZN47"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LENZ Therapeutics Inc</name>
        <lei>N/A</lei>
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          <isin value="US52635N1037"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Edgewise Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>Edgewise Therapeutics Inc</title>
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          <isin value="US28036F1057"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sarepta Therapeutics Inc</name>
        <lei>549300IKDPIED8J8IG21</lei>
        <title>Sarepta Therapeutics Inc</title>
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          <isin value="US8036071004"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Apogee Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>Apogee Therapeutics Inc</title>
        <cusip>03770N101</cusip>
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          <isin value="US03770N1019"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Argenx SE</name>
        <lei>7245009C5FZE6G9ODQ71</lei>
        <title>Argenx SE</title>
        <cusip>04016X101</cusip>
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          <isin value="US04016X1019"/>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CURASEN THERAPEUTICS, INC.</name>
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        <title>CURASEN THERAPEUTICS, INC.</title>
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          <other otherDesc="Internal Identifier" value="958HZZ901"/>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLAMINGO THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>FLAMINGO THERAPEUTICS INC</title>
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          <other otherDesc="Internal Identifier" value="935QPK903"/>
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        <assetCat>EP</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AVICEDA THERAPEUTICS</name>
        <lei>N/A</lei>
        <title>AVICEDA THERAPEUTICS</title>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ultragenyx Pharmaceutical Inc</name>
        <lei>529900EV44GVDN1DCX77</lei>
        <title>Ultragenyx Pharmaceutical Inc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Insmed Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Arcus Biosciences Inc</name>
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          <isin value="US03969F1093"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Corbus Pharmaceuticals Holdings Inc</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arcutis Biotherapeutics Inc</name>
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        <name>Vir Biotechnology Inc</name>
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        <name>Vericel Corp</name>
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        <name>GLYCOMINE, INC.</name>
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        <name>CURASEN THERAPEUTICS, INC.</name>
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        <fairValLevel>3</fairValLevel>
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        <name>SEISMIC THERAPEUTICS, INC.</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Abivax SA</name>
        <lei>969500D8TMNB184OJU95</lei>
        <title>Abivax SA</title>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fulcrum Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>Fulcrum Therapeutics Inc</title>
        <cusip>359616109</cusip>
        <identifiers>
          <isin value="US3596161097"/>
        </identifiers>
        <balance>137961.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1269241.20000000</valUSD>
        <pctVal>0.247318543693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARS Pharmaceuticals Inc</name>
        <lei>N/A</lei>
        <title>ARS Pharmaceuticals Inc</title>
        <cusip>82835W108</cusip>
        <identifiers>
          <isin value="US82835W1080"/>
        </identifiers>
        <balance>507686.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5102244.30000000</valUSD>
        <pctVal>0.994200022695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Xencor Inc</name>
        <lei>549300V5IF65437JKG30</lei>
        <title>Xencor Inc</title>
        <cusip>98401F105</cusip>
        <identifiers>
          <isin value="US98401F1057"/>
        </identifiers>
        <balance>258080.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3027278.40000000</valUSD>
        <pctVal>0.589881643649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Allogene Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>Allogene Therapeutics Inc</title>
        <cusip>019770106</cusip>
        <identifiers>
          <isin value="US0197701065"/>
        </identifiers>
        <balance>1582265.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1962008.60000000</valUSD>
        <pctVal>0.382308035436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMMUNIC INC.</name>
        <lei>549300R5T12FW5MEQB20</lei>
        <title>IMMUNIC INC.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="955LFVII7"/>
        </identifiers>
        <balance>2311826.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2038105.80000000</valUSD>
        <pctVal>0.397135988297</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>N/A</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Immunic Inc</issuerName>
                <issueTitle>Immunic Inc</issueTitle>
                <identifiers>
                  <cusip value="4525EP101"/>
                  <isin value="US4525EP1011"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>1.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2099-12-31</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>304467.48000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gilead Sciences Inc</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences Inc</title>
        <cusip>375558103</cusip>
        <identifiers>
          <isin value="US3755581036"/>
        </identifiers>
        <balance>47677.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5292147.00000000</valUSD>
        <pctVal>1.031203595545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Janux Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>Janux Therapeutics Inc</title>
        <cusip>47103J105</cusip>
        <identifiers>
          <isin value="US47103J1051"/>
        </identifiers>
        <balance>93315.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2280618.60000000</valUSD>
        <pctVal>0.444390924966</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-10-30</ncom:dateSigned>
      <ncom:nameOfApplicant>abrdn Life Sciences Investors</ncom:nameOfApplicant>
      <ncom:signature>Sharon Ferrari</ncom:signature>
      <ncom:signerName>Sharon Ferrari</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
