BAIN CAPITAL LIFE SCIENCES INVESTORS LLC
Q1 2026 Form 13-F

BOSTON, MASSACHUSETTS
CIK 0001703031 · Institutional investment manager
Consolidated report · includes 14 managers since Q1 2021
$1.1B Reported Value Total
Reported value
$1.1B
Quarter over quarter
-11.4%
Holdings
20
Top-10 concentration
86.7%

Reports holdings for

  • Bain Capital Life Sciences Opportunities IV, L.P. (not a 13F filer in our records) · File #028-26575 · since Q1 2026 · declared by one filing
  • Bain Capital Life Sciences Opportunities IV GP, LLC (not a 13F filer in our records) · File #028-26576 · since Q1 2026 · declared by one filing
  • Bain Capital Life Sciences Fund IV, L.P. (not a 13F filer in our records) · File #028-26577 · since Q1 2026 · declared by one filing
  • Bain Capital Life Sciences IV General Partner, LLC (not a 13F filer in our records) · File #028-26578 · since Q1 2026 · declared by one filing
  • Bain Capital Life Sciences Fund II, L.P. (not a 13F filer in our records) · File #28-20814 · since Q1 2021 · declared by one filing
  • Bain Capital Life Sciences Investors II, LLC (not a 13F filer in our records) · File #28-20816 · since Q1 2021 · declared by one filing
  • Bain Capital Life Sciences Opportunities III, LP (not a 13F filer in our records) · File #28-22966 · since Q1 2023 · declared by one filing
  • Bain Capital Life Sciences Opportunities III GP, LLC (not a 13F filer in our records) · File #28-22968 · since Q1 2023 · declared by one filing
  • Bain Capital Life Sciences III General Partner, LLC (not a 13F filer in our records) · File #28-22975 · since Q1 2023 · declared by one filing
  • BCLS II Investco (GP), LLC (not a 13F filer in our records) · File #28-22976 · since Q1 2023 · declared by one filing
  • BCLS II Investco, LP (not a 13F filer in our records) · File #28-22978 · since Q1 2023 · declared by one filing
  • Bain Capital Life Sciences Fund III, L.P. (not a 13F filer in our records) · File #28-22979 · since Q1 2023 · declared by one filing
  • BCLS Fund III Investments GP, LLC (not a 13F filer in our records) · File #28-25138 · since Q1 2025 · declared by one filing
  • BCLS Fund III Investments, LP (not a 13F filer in our records) · File #28-25140 · since Q1 2025 · declared by one filing
  • Bain Capital Life Sciences Fund IV, L.P. (not a 13F filer in our records) · Q4 2025 – Q4 2025 · declared by one filing
  • Bain Capital Life Sciences IV General Partner, LLC (not a 13F filer in our records) · Q4 2025 – Q4 2025 · declared by one filing
  • Bain Capital Life Sciences Opportunities IV GP, LLC (not a 13F filer in our records) · Q4 2025 – Q4 2025 · declared by one filing
  • Bain Capital Life Sciences Opportunities IV, L.P. (not a 13F filer in our records) · Q4 2025 – Q4 2025 · declared by one filing
  • Bain Capital Life Sciences Partners, LP (not a 13F filer in our records) · File #28-18476 · Q1 2018 – Q3 2025 · declared by one filing
  • Bain Capital Life Sciences Fund, L.P. (not a 13F filer in our records) · File #28-18478 · Q1 2018 – Q3 2025 · declared by one filing
  • BCLS Fund III Investments GP, LLC (not a 13F filer in our records) · Q4 2024 – Q4 2024 · declared by one filing
  • BCLS Fund III Investments, LP (not a 13F filer in our records) · Q4 2024 – Q4 2024 · declared by one filing
  • BC SW, LP (not a 13F filer in our records) · File #28-20270 · Q2 2020 – Q3 2024 · declared by one filing
  • Bain Capital Life Sciences Fund III, L.P. (not a 13F filer in our records) · Q4 2022 – Q4 2022 · declared by one filing
  • Bain Capital Life Sciences III General Partner, LLC (not a 13F filer in our records) · Q4 2022 – Q4 2022 · declared by one filing
  • Bain Capital Life Sciences Opportunities III GP, LLC (not a 13F filer in our records) · Q4 2022 – Q4 2022 · declared by one filing
  • Bain Capital Life Sciences Opportunities III, LP (not a 13F filer in our records) · Q4 2022 – Q4 2022 · declared by one filing
  • BCLS II Investco (GP), LLC (not a 13F filer in our records) · Q4 2022 – Q4 2022 · declared by one filing
  • BCLS II Investco, LP (not a 13F filer in our records) · Q4 2022 – Q4 2022 · declared by one filing
  • BCIP Life Sciences Associates, LP (not a 13F filer in our records) · File #28-21927 · Q1 2022 – Q3 2022 · declared by one filing
  • BCIP Life Sciences Associates, LP (not a 13F filer in our records) · Q4 2021 – Q4 2021 · declared by one filing
  • Bain Capital Life Sciences Fund II, L.P. (not a 13F filer in our records) · Q4 2020 – Q4 2020 · declared by one filing
  • Bain Capital Life Sciences Investors II, LLC (not a 13F filer in our records) · Q4 2020 – Q4 2020 · declared by one filing
  • Bain Capital Life Sciences Partners, LP (not a 13F filer in our records) · File #028-18476 · Q1 2020 – Q1 2020 · declared by one filing
  • BC SW, LP (not a 13F filer in our records) · Q1 2020 – Q1 2020 · declared by one filing
  • Bain Capital Life Sciences Fund, L.P. (not a 13F filer in our records) · Q4 2017 – Q4 2017 · declared by one filing
  • Bain Capital Life Sciences Partners, LP (not a 13F filer in our records) · Q4 2017 – Q4 2017 · declared by one filing

Key People

Named on the latest Form 13-F filing — not necessarily an owner
Adam Koppel
Partner of Bain Capital Life Sciences Investors, LLC
Q4 2025
Q2 2026
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Q1 2026 13F filing summary

Period of report March 31, 2026
Filed May 15, 2026
Form 13F-HR
Reported value $1.1B
Positions 20
Change in reported value -15.1%
New positions 4
Exited positions 3
Position turnover 30.4%
Top-10 concentration 86.7%

13F filings by quarter

Quarter Positions Value
Q2 2026 13F
Filed Aug 14, 2026
 21 $1.7B
Q1 2026 13F
Filed May 15, 2026
 20 $1.1B
Q4 2025 13F
Filed Feb 17, 2026
 19 $1.3B
Q3 2025 13F
Filed Nov 14, 2025
 21 $1.5B
Q2 2025 13F
Filed Aug 14, 2025
 23 $799.3M
Q1 2025 13F
Filed May 15, 2025
 24 $675.9M
Q4 2024 13F
Filed Feb 14, 2025
 26 $850.1M
Q3 2024 13F
Filed Nov 14, 2024
 24 $961.2M
Q2 2024 13F
Filed Aug 12, 2024
 25 $910.8M
Q1 2024 13F
Filed May 15, 2024
 26 $1.2B
Q4 2023 13F
Filed Feb 13, 2024
 27 $1.0B
Q3 2023 13F
Filed Nov 14, 2023
 31 $894.2M
Q2 2023 13F
Filed Aug 14, 2023
 32 $971.0M
Q1 2023 13F
Filed May 15, 2023
 34 $800.1M
Q4 2022 13F
Filed Feb 14, 2023
 33 $894.8M
Q3 2022 13F
Filed Nov 14, 2022
 33 $837.8M
Q2 2022 13F
Filed Aug 15, 2022
 35 $852.7M
Q1 2022 13F
Filed May 16, 2022
 34 $1.0B
Q4 2021 13F
Filed Feb 14, 2022
 34 $1.3B
Q3 2021 13F
Filed Nov 15, 2021
 33 $1.6B

15 earlier quarters on file — choose one from the quarter menu above.

Top 20 holdings · Q1 2026

# Holding Reported value % of portfolio
1 HTFL HEARTFLOW INC $254.2M 22.93%
2 NAMS NEWAMSTERDAM PHARMA COMPANY $233.9M 21.09%
3 OLMA OLEMA PHARMACEUTICALS INC $111.4M 10.05%
4 SVRA SAVARA INC $96.1M 8.67%
5 PHVS PHARVARIS N V $75.6M 6.82%
6 SLDB SOLID BIOSCIENCES INC $70.6M 6.37%
7 XFOR X4 PHARMACEUTICALS INC $32.9M 2.97%
8 DNTH DIANTHUS THERAPEUTICS INC $30.4M 2.74%
9 ANNX ANNEXON INC $28.9M 2.6%
10 KYTX KYVERNA THERAPEUTICS INC $26.8M 2.42%
11 CABA CABALETTA BIO INC $26.0M 2.35%
12 CNTA CENTESSA PHARMACEUTICALS $25.2M 2.27%
13 ALKS ALKERMES PLC $21.6M 1.95%
14 RPID RAPID MICRO BIOSYSTEMS INC $19.1M 1.73%
15 CCCC C4 THERAPEUTICS INC $18.9M 1.7%
16 AVIR ATEA PHARMACEUTICALS INC $12.7M 1.15%
17 IRON DISC MEDICINE INC $9.0M 0.81%
18 UPB UPSTREAM BIO INC $7.8M 0.7%
19 XLOZZZZ XILIO THERAPEUTICS INC $5.6M 0.5%
20 NAMSW NEWAMSTERDAM PHARMA COMPANY $2.0M 0.18%

Values as reported on the Q1 2026 Form 13F. Every position is in the holdings table below.

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