X0202 SCHEDULE 13D/A 0000059558 XXXXXXXX LIVE 1 Class I, Class A, Class D and Class IS shares of beneficial interest, no par value per share 05/14/2026 false 0002054992 53287N300 53287N102 53287N201 53287N409 Lincoln Bain Capital Total Credit Fund

1301 South Harrison Street Fort Wayne IN 46802

Samuel K. Goldstein, Esq. (484) 583-8711 150 N. Radnor Chester Road Radnor PA 19087-5221 0000059558 N Lincoln National Corporation WC N IN 0.00 5237272.66 0.00 5237272.66 5237272.66 N 17.21 HC Items 8, 10, 11, and 13: The Lincoln National Life Insurance Company, an Indiana corporation ("LNL"), directly owns the following shares of beneficial interests in the Issuer: 5,234,135.36 Class I shares of beneficial interests ("Class I Shares"), 1,044.08 Class A shares of beneficial interests ("Class A Shares"), 1,045.95 Class D shares of beneficial interests ("Class D Shares"), and 1,047.28 Class IS shares of beneficial interests ("Class IS Shares" and, together with the Class I Shares, Class A Shares and Class D Shares, the "Shares"). Based on information provided by the Issuer as of the date of this Schedule 13D filing, LNL owns 17.20% of the Class I Shares outstanding, 100% of the Class A Shares outstanding, 100% of the Class D Shares outstanding, and 100% of the Class IS Shares outstanding. LNL is a wholly owned subsidiary of its parent holding company, Lincoln National Corporation, an Indiana corporation ("LNC"), which may be deemed to be an indirect beneficial owner of the reported securities. 0000726865 N The Lincoln National Life Insurance Company WC N IN 0.00 5237272.66 0.00 5237272.66 5237272.66 N 17.21 IC Items 8, 10, 11, and 13: LNL directly owns the following shares of beneficial interests in the Issuer: 5,234,135.36 Class I Shares, 1,044.08 Class A Shares, 1,045.95 Class D Shares and 1,047.28 Class IS Shares. Based on information provided by the Issuer as of the date of this Schedule 13D filing, LNL owns 17.20% of the Class I Shares outstanding, 100% of the Class A Shares outstanding, 100% of the Class D Shares outstanding, and 100% of the Class IS Shares outstanding. LNL is a wholly owned subsidiary of its parent holding company, LNC, which may be deemed to be an indirect beneficial owner of the reported securities. 0001464867 N Lincoln Financial Investments Corporation OO N TN 0.00 19954569.64 0.00 19954569.64 19954569.64 N 65.58 IA Items 8, 10, and 11: These Class I Shares are owned directly by certain series of the Lincoln Variable Insurance Products Trust (the "Trust"), an investment company registered with the U.S. Securities and Exchange Commission under the Investment Company Act of 1940, as amended. Lincoln Financial Investments Corporation ("LFI" and together with LNL and LNC, the "Reporting Persons"), a registered investment adviser under the Investment Advisers Act of 1940, as amended, serves as the investment adviser to each such series of the Trust, and may be deemed to have beneficial ownership of the Class I Shares reported herein as being directly by each such series of the Trust. Item 13: Percent of class calculated based on 30,422,840.35 Class I Shares outstanding as of the date of this Schedule 13D filing. Class I, Class A, Class D and Class IS shares of beneficial interest, no par value per share Lincoln Bain Capital Total Credit Fund 1301 South Harrison Street Fort Wayne IN 46802 EXPLANATORY NOTE This Amendment No. 1 (this "Amendment") amends and supplements certain of the information included in the Schedule 13D relating to the Shares filed by the Reporting Persons with the Securities and Exchange Commission (the "SEC") on April 20, 2026 (the "Initial 13D" and as amended by this Amendment, this "Schedule 13D"). Capitalized terms not otherwise defined herein have the meanings given to them in the Initial 13D. Except as otherwise provided herein, the information set forth in the Initial 13D remains unchanged. Item 3 of the Initial 13D is hereby amended and supplemented as follows: On May 07, 2026, the following series of the Trust, for which LFI acts as investment adviser, acquired Class I Shares of the Issuer automatically, and without investment discretion, pursuant to the Issuer's dividend reinvestment plan at a price per share of $10.18 in the amounts and for the aggregate purchase price as set forth below: Shares acquired Aggregate purchase price 1: LVIP Global Growth Allocation Managed Risk Fund: 47,611.23 $484,682.33 2: LVIP Global Moderate Allocation Managed Risk Fund: 39,684.41 $403,987.33 3: LVIP U.S. Growth Allocation Managed Risk Fund: 16,786.78 $170,889.39 4: LVIP Global Conservative Allocation Managed Risk Fund: 7,258.56 $73,892.12 5: LVIP Global Aggressive Growth Allocation Managed Risk Fund: 2,600.24 $26,470.44 6: LVIP U.S. Aggressive Growth Allocation Managed Risk Fund: 1,874.27 $19,080.04 On May 07, 2026, LNL acquired Class A Shares of the Issuer automatically, and without investment discretion, pursuant to the Issuer's dividend reinvestment plan at a price per share of $9.79 and for the aggregate purchase price of $62.93. On May 07, 2026, LNL acquired Class D Shares of the Issuer automatically, and without investment discretion, pursuant to the Issuer's dividend reinvestment plan at a price per share of $9.80 and for the aggregate purchase price of $66.09. On May 07, 2026, LNL acquired Class I Shares of the Issuer automatically, and without investment discretion, pursuant to the Issuer's dividend reinvestment plan at a price per share of $10.18 and for the aggregate purchase price of $352,511.01. On May 07, 2026, LNL acquired Class IS Shares of the Issuer automatically, and without investment discretion, pursuant to the Issuer's dividend reinvestment plan at a price per share of $9.80 and for the aggregate purchase price of $68.34. On May 14, 2026, the following series of the Trust, for which LFI acts as investment adviser, acquired Class I Shares from the working capital of the Issuer at the purchase price per share of $10.21 in the amounts and at the aggregate purchase price as set forth below: Shares acquired Aggregate purchase price 1: LVIP Global Growth Allocation Managed Risk Fund: 933,112.78 $9,527,081.43 2: LVIP Global Moderate Allocation Managed Risk Fund: 928,813.35 $9,483,184.25 3: LVIP U.S. Growth Allocation Managed Risk Fund: 327,421.03 $3,342,968.75 4: LVIP Global Conservative Allocation Managed Risk Fund: 259,232.67 $2,646,765.57 Item 5(c) of the Initial 13D is hereby amended and restated as follows: The information set forth in Item 3 is incorporated herein by reference. Except as described in this Schedule 13D, none of the Reporting Persons nor, to the knowledge of the Reporting Persons, without independent verification, any of the persons listed on Schedule A, has effected any transaction in the Shares during the past 60 days. The information included in Items 3, 4 and 5 of this Schedule 13D is incorporated by reference herein, as applicable. Exhibit 1: Joint Filing Agreement dated April 15, 2026 among the Reporting Persons to the Initial 13D filed on April 20, 2026 is incorporated herein by reference. Exhibit 2: Investment Management Agreement dated February 28, 2025, between the Issuer and LFI (Exhibit 25(g)(1) to the Issuer's Registration Statement on Form N-2 filed with the Securities and Exchange Commission on July 11, 2025 and incorporated herein by reference). Exhibit 3: Sub-Advisory Agreement dated March 4, 2025, among the Issuer, LFI and BCSF Advisors, LP (Exhibit 25(g)(2) to the Issuer's Registration Statement on Form N-2 filed with the Securities and Exchange Commission on July 11, 2025 and incorporated herein by reference). Exhibit 4: Amended and Restated Expense Limitation Agreement dated August 15, 2025, between the Issuer and LFI (Exhibit 25(k)(4) to the Issuer's Registration Statement on Form N-2 filed with the Securities and Exchange Commission on September 2, 2025 and incorporated herein by reference). Exhibit 5: Management Fee Waiver Agreement dated January 9, 2026, between the Issuer and LFI (Exhibit 25(k)(5) to the Issuer's Registration Statement on Form N-2 filed with the Securities and Exchange Commission on January 29, 2026 and incorporated herein by reference). Exhibit 6: Amended and Restated Administration Agreement dated August 1, 2025, between the Issuer and LNL (Exhibit 25(k)(1) to the Issuer's Registration Statement on Form N-2 filed with the Securities and Exchange Commission on July 11, 2025 and incorporated herein by reference). Lincoln National Corporation /s/Gordon Huellmantel 05/18/2026 The Lincoln National Life Insurance Company /s/Gordon Huellmantel 05/18/2026 Lincoln Financial Investments Corporation /s/Gordon Huellmantel 05/18/2026