Disc Medicine: AI DMI reports 6.6% ownership stake

The reported 6.6% calculation uses a share count that includes 204,081 shares underlying the pre-funded warrants.

Rhea-AI Filing Summary

Disc Medicine, Inc. (IRON) ownership disclosure reports that AI DMI LLC directly owns 2,739,329 shares of common stock and 204,081 pre-funded warrants exercisable at $0.0001 per share. AI DMI's reported aggregate beneficial-ownership amount is 2,943,410, or 6.6% of the class.

Access Industries Holdings LLC, Access Industries Management, LLC and Len Blavatnik may be deemed to beneficially own the same securities through the stated control relationships. AI DMI reports sole voting and dispositive power; the other three report shared voting and dispositive power. The other reporting persons disclaim beneficial ownership.

Key Figures

Aggregate beneficial ownership: 2,943,410 shares Common stock owned directly by AI DMI LLC: 2,739,329 shares Pre-Funded Warrants: 204,081 warrants +4 more

7 metrics

Aggregate beneficial ownership 2,943,410 shares The same aggregate amount is reported by each reporting person and includes shares underlying pre-funded warrants.

Common stock owned directly by AI DMI LLC 2,739,329 shares Direct holdings reported by AI DMI LLC.

Pre-Funded Warrants 204,081 warrants Held directly by AI DMI LLC; each warrant is exercisable for a share of common stock.

Pre-Funded Warrant exercise price $0.0001 per share Exercise price stated for the pre-funded warrants.

Percentage of class 6.6% Reported beneficial-ownership percentage based on 44,549,747 shares, including shares underlying the warrants.

Common stock outstanding 44,345,666 shares Reported in the issuer's prospectus supplement filed October 21, 2026.

Shares used in ownership-percentage calculation 44,549,747 shares Calculation includes 44,345,666 outstanding common shares and 204,081 shares underlying the pre-funded warrants.

Key Terms

beneficial ownership, Pre-Funded Warrants, Sole Voting Power, Shared Dispositive Power

4 terms

beneficial ownership regulatory

"aggregate amount beneficially owned"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Pre-Funded Warrants financial

"204,081 Pre-Funded Warrants"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

Sole Voting Power regulatory

"Sole Voting Power"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Shared Dispositive Power regulatory

"Shared Dispositive Power"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much of IRON do the reporting persons report beneficially owning?

The reporting persons each report an aggregate beneficial-ownership amount of 2,943,410, equal to 6.6% of the class. The amount reflects securities directly owned by AI DMI LLC; the other reporting persons disclaim beneficial ownership.

What does AI DMI LLC's IRON position include?

AI DMI LLC directly owns 2,739,329 shares of common stock and 204,081 pre-funded warrants to purchase common shares at $0.0001 per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/26/2026 - 05:52 PM EDT Accepted by SEC EDGAR 10/26/2026 - 05:52 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

DISC MEDICINE, INC.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

254604101

(CUSIP Number)

Alejandro Moreno
Access Industries, Inc., 40 West 57th St., 28th Floor
New York, NY, 10019
(212) 247-6400

Langhorne S. Perrow
Access Industries, Inc., 40 West 57th St., 28th Floor
New York, NY, 10019
(212) 247-6400

Nicholas P. Pellicani
Debevoise & Plimpton LLP, 28 Tudor Street
London, X0, EC4Y 0AY
44 20 7786 9000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

10/22/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 254604101

1

Name of reporting person

AI DMI LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 2,943,410.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 2,943,410.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

2,943,410.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.6 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Rows 7, 9 and 11: Represents (i) 2,739,329 shares of Common Stock and (ii) 204,081 pre-funded warrants to purchase shares of Common Stock at $0.0001 per share (the "Pre-Funded Warrants"). Row 13: Based on 44,549,747 shares of Common Stock consisting of (i) 44,345,666 shares of Common Stock outstanding as reported in the Issuer's prospectus supplement, filed with the Securities and Exchange Commission (the "SEC") on October 21, 2026, and (ii) 204,081 shares of Common Stock underlying the Pre-Funded Warrants.

SCHEDULE 13D

CUSIP Number(s): 254604101

1

Name of reporting person

Access Industries Holdings LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,943,410.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,943,410.00

11

Aggregate amount beneficially owned by each reporting person

2,943,410.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.6 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Rows 8, 10 and 11: Represents (i) 2,739,329 shares of Common Stock and (ii) 204,081 Pre-Funded Warrants. Row 13: Based on 44,549,747 shares of Common Stock consisting of (i) 44,345,666 shares of Common Stock outstanding as reported in the Issuer's prospectus supplement, filed with the SEC on October 21, 2026, and (ii) 204,081 shares of Common Stock underlying the Pre-Funded Warrants.

SCHEDULE 13D

CUSIP Number(s): 254604101

1

Name of reporting person

Access Industries Management, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,943,410.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,943,410.00

11

Aggregate amount beneficially owned by each reporting person

2,943,410.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.6 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Rows 8, 10 and 11: Represents (i) 2,739,329 shares of Common Stock and (ii) 204,081 Pre-Funded Warrants. Row 13: Based on 44,549,747 shares of Common Stock consisting of (i) 44,345,666 shares of Common Stock outstanding as reported in the Issuer's prospectus supplement, filed with the SEC on October 21, 2026, and (ii) 204,081 shares of Common Stock underlying the Pre-Funded Warrants.

SCHEDULE 13D

CUSIP Number(s): 254604101

1

Name of reporting person

Len Blavatnik

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,943,410.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,943,410.00

11

Aggregate amount beneficially owned by each reporting person

2,943,410.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.6 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Rows 8, 10 and 11: Represents (i) 2,739,329 shares of Common Stock and (ii) 204,081 Pre-Funded Warrants. Row 13: Based on 44,549,747 shares of Common Stock consisting of (i) 44,345,666 shares of Common Stock outstanding as reported in the Issuer's prospectus supplement, filed with the SEC on October 21, 2026, and (ii) 204,081 shares of Common Stock underlying the Pre-Funded Warrants.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.0001 per share
(b)	Name of Issuer: DISC MEDICINE, INC.
(c)	Address of Issuer's Principal Executive Offices: 321 Arsenal Street, Suite 101, Watertown, MASSACHUSETTS , 02472.
Item 1 Comment: This Amendment No. 7 to Schedule 13D is being filed by AI DMI LLC ("AI DMI"), Access Industries Holdings LLC ("AIH"), Access Industries Management, LLC ("AIM") and Len Blavatnik (collectively, the "Reporting Persons", and each, a "Reporting Person"), in respect of the common stock, par value $0.0001 per share (the "Common Stock"), of Disc Medicine, Inc. (the "Issuer"). The shares of Common Stock of the Issuer are listed on the Nasdaq Global Market under the symbol "IRON." The Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission (the "SEC") on January 9, 2023, as amended and supplemented by Amendment No. 1 to the Schedule 13D filed by the Reporting Persons with the SEC on February 17, 2023, Amendment No. 2 to the Schedule 13D filed by the Reporting Persons with the SEC on June 20, 2023, Amendment No. 3 to the Schedule 13D filed by the Reporting Persons with the SEC on November 13, 2023, Amendment No. 4 to the Schedule 13D filed by the Reporting Persons with the SEC on June 20, 2024, Amendment No. 5 to the Schedule 13D filed by the Reporting Persons with the SEC on March 3, 2025 and Amendment No. 6 to the Schedule 13D filed by the Reporting Persons with the SEC on October 22, 2025 (together, the "Schedule"), is hereby amended and supplemented by the Reporting Persons as set forth below in this Amendment No. 7. This amendment is filed by the Reporting Persons in accordance with Rule 13d-2 of the Securities Exchange Act of 1934 (the "Act"), as amended, and refers only to information that has materially changed since the filing of the Schedule. The items identified below, or the particular paragraphs of such items which are identified below, are amended as set forth below. Unless otherwise indicated, all capitalized terms used and not defined herein have the respective meanings assigned to them in the Schedule.
Item 5.	Interest in Securities of the Issuer
(a)	The disclosure in Item 5(a) to the Schedule is hereby amended and restated as follows: (a) The responses of each of the Reporting Persons with respect to Rows 11, 12, and 13 of the cover pages of this Schedule 13D that relate to the aggregate number and percentage of Common Stock (including but not limited to footnotes to such information) are incorporated herein by reference.
(b)	The disclosure in Item 5(b) to the Schedule is hereby amended and restated as follows: (b) The responses of each of the Reporting Persons with respect to Rows 7, 8, 9, and 10 of the cover pages of this Schedule 13D that relate to the number of shares of Common Stock as to which each of the persons or entities referenced in Item 2 above has sole or shared power to vote or to direct the vote of and sole or shared power to dispose of or to direct the disposition of (including but not limited to footnotes to such information) are incorporated herein by reference. 2,739,329 shares of Common Stock and 204,081 Pre-Funded Warrants are owned directly by AI DMI and may be deemed to be beneficially owned by AIH, AIM and Mr. Blavatnik because (i) Len Blavatnik controls AIM and holds a majority of the outstanding voting interests in AIH, (ii) AIM controls AIH and (iii) AIH indirectly controls all of the outstanding voting interests in AI DMI. Each of the Reporting Persons (other than AI DMI), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities.
Item 7.	Material to be Filed as Exhibits.
	The disclosure in Item 7 is hereby supplemented by adding the following in appropriate numerical order: 99.16 Joint Filing Agreement, dated as of October 26, 2026.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AI DMI LLC

Signature:	/s/ Alejandro Moreno
Name/Title:	By: Access Industries Management, LLC, its manager; its Executive Vice President/Alejandro Moreno
Date:	10/26/2026

Access Industries Holdings LLC

Signature:	/s/ Alejandro Moreno
Name/Title:	By: Access Industries Management, LLC, its manager; its Executive Vice President/Alejandro Moreno
Date:	10/26/2026

Access Industries Management, LLC

Signature:	/s/ Alejandro Moreno
Name/Title:	Executive Vice President/Alejandro Moreno
Date:	10/26/2026

Len Blavatnik

Signature:	/s/ Alejandro Moreno
Name/Title:	By: Alejandro Moreno as Attorney-in-Fact
Date:	10/26/2026

Comments accompanying signature:

*The above signed, by signing his name hereto, executes this Schedule 13D pursuant to the Limited Power of Attorney executed on behalf of Mr. Blavatnik and filed herewith.