Medline Inc. SEC Filings

Medline Inc. (symbol: MDLN) is the issuer of record for a Form 4 filing submitted to the SEC.

Entities associated with GIC reported sales of Medline Inc. (MDLN) stock. Hux Investment Pte. Ltd., together with GIC Special Investments Pte. Ltd. and GIC, reported open-market sales totaling 1,600,000 shares of Class A Common Stock at $35.80 per share on August 13–14, 2026. An indirect position of 91,555,447 shares is reported as held through Hux, with each reporting person and the Government of Singapore disclaiming beneficial ownership except to the extent of any pecuniary interest.

Medline Inc. received an updated ownership report from a group of Hellman & Friedman–affiliated investment vehicles. As of June 30, 2026, these reporting entities may be deemed to beneficially own 153,327,675 shares of Class A common stock of Medline Inc., representing up to 16.0% of the class for certain entities.

The position includes shares already outstanding and 82,453,349 shares of Class A common stock issuable to Mend Investment Holdings I, L.P. upon one-for-one exchange of Common Units of Medline Holdings L.P., which are paired with non‑economic Class B common stock. The filing details the control relationships among the various Hellman & Friedman funds and general partners and states that directors of H&F Corporate Investors X, Ltd. disclaim beneficial ownership of the reported shares.

Medline Inc. large shareholders associated with GIC reported a sale of 590,284 shares of Class A Common Stock on 2026-08-07. The shares were sold at a weighted average price of $35.58 per share, with individual trade prices ranging from $35.20 to $35.72. After this transaction, the reporting persons show 24,402,482 shares held directly and a separate indirect holding of 91,555,447 shares through Hux Investment Pte. Ltd., subject to footnote disclosures that each reporting person disclaims beneficial ownership beyond its pecuniary interest.

Mozart Holdco, Inc., a 10% owner of Medline Inc. (MDLN), exchanged 500,000 Common Units of Medline Holdings, LP and cancelled 500,000 shares of non-economic Class B common stock for 500,000 shares of Class A common stock on August 6, 2026 under an Exchange Agreement. Following these conversions, it directly holds 787,648 Class A shares, 233,520,656 Common Units and 233,520,656 Class B shares, with Class B shares providing one vote per share and no economic value.

Medline Inc. received an updated ownership report from multiple Blackstone-affiliated entities and Stephen A. Schwarzman regarding holdings of Class A common stock. As of June 30, 2026, they may be deemed to beneficially own an aggregate of 153,327,675 shares of Class A common stock, representing 16.5% of the class, based on 875,111,752 shares outstanding as of May 28, 2026.

The stake is held through several Delaware partnerships and limited liability companies, including BX Mozart ML-2 Holdco L.P., BX Mozart ML-1 Holdco L.P., and related “Mozart” aggregators. Part of the position consists of Common Units of Medline Holdings, LP paired with an equal number of Class B common shares, which have no economic value but one vote per share and are exchangeable into Class A shares on a one-for-one basis under a perpetual exchange agreement. The reporting persons state that their ownership may be deemed beneficial and expressly disclaim being a group or ultimate beneficial owners beyond the directly holding entities.

Medline Inc. major holders affiliated with GIC Private Ltd, GIC Special Investments Pte Ltd and Hux Investment Pte. Ltd. reported selling 2,248,612 shares of Class A Common Stock on August 5–6, 2026 in open-market or private transactions at weighted-average prices around the mid-$30s. A separate entry reports 91,555,447 shares of Class A Common Stock indirectly owned through Hux Investment Pte. Ltd., with Hux sharing voting and dispositive power with GIC Special Investments and GIC. Each reporting person, and the Government of Singapore, disclaims beneficial ownership except to the extent of its pecuniary interest. The Rule 10b5‑1 plan checkbox is not marked.

MEDLINE INC reports that investment manager FMR LLC has filed as a significant shareholder of its Class A common stock. FMR LLC is shown as beneficially owning 46,929,203.69 shares of Class A common, representing 5.5% of the class as of June 30, 2026.

FMR LLC has sole voting power over 45,718,763.34 shares and sole dispositive power over 46,929,203.69 shares, with no shared voting or dispositive power. Abigail P. Johnson is reported as having sole dispositive power over the same 46,929,203.69 shares and no voting power, reflecting her control position over FMR LLC and its subsidiaries. The filing notes that one or more other persons have rights to dividends or sale proceeds, but no such person holds more than five percent of MEDLINE INC’s outstanding Class A common stock.

Medline Inc. reported higher revenue but lower profitability for the quarter and six months ended June 27, 2026. Net sales were $7,685 million for the quarter and $15,037 million year‑to‑date, up from $6,886 million and $13,530 million a year earlier, while operating income fell to $395 million and $817 million from $642 million and $1,213 million. Net income attributable to Medline Inc. declined to $60 million for the quarter and $189 million for the six months, compared with $333 million and $655 million, reflecting a higher effective tax rate and significant one‑time items.

A June 11, 2026 fire destroyed the Tracy, California distribution center, leading to estimated losses of $336 million (inventory, fixed assets and other costs) recorded in other operating expenses, with no insurance recoveries yet recognized. Results also include IEEPA tariff refunds: Medline recognized $332 million as a reduction of cost of goods sold, $89 million as a reduction of net sales for customer repayments, and $14 million of interest income, and carried a $279 million receivable and $89 million liability to customers at quarter‑end. The company generated $1,127 million of operating cash flow, ended with $2,329 million in cash, cash equivalents and restricted cash, and had total debt of $12,750 million. In May it issued $1,250 million of 5.000% senior secured notes due 2031, $750 million of 5.250% notes due 2033 and a new $2,750 million term loan at SOFR plus 1.5%, using proceeds and cash to repay term loans and redeem $500 million of 6.250% notes, incurring $23 million of extinguishment losses and $22 million of fees. Net interest expense decreased to $255 million from $433 million year‑to‑date, while the tax receivable agreement liability rose to $4,404 million, up $862 million, driven by March and May 2026 resale offerings by existing stockholders, from which Medline received no proceeds.