Blackstone entities (NASDAQ: MDLN) report 153.3M Medline shares, 16.5% stake

Rhea-AI Filing Summary

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.

Key Figures

Aggregate beneficial ownership: 153,327,675 shares Stake percentage: 16.5% Shares outstanding: 875,111,752 shares +5 more

8 metrics

Aggregate beneficial ownership 153,327,675 shares Class A common stock deemed beneficially owned as of June 30, 2026

Stake percentage 16.5% Percent of Medline Class A shares deemed beneficially owned

Shares outstanding 875,111,752 shares Medline Class A shares outstanding as of May 28, 2026

BX Mozart ML-2 Holdco L.P. 89,537,913 shares; 10.2% Directly held Class A shares and corresponding ownership percentage

BX Mozart ML-1 Holdco L.P. 10,185 shares + 44,770,628 Common Units; 4.9% Direct Class A plus Common Units and related ownership percentage

Mozart Aggregator II UNLV Holdco L.P. 10,250,904 shares; 1.2% Direct Class A holdings and ownership percentage

Mozart Aggregator II LP 1,990,467 shares; 10.5% Class A holdings and reported percent for Mozart Aggregator II

Blackstone Management Associates VIII L.P. 101,779,284 shares; 11.0% Shares and percentage deemed beneficially owned

Key Terms

beneficially own, Common Units, Class B Common Stock, exchange agreement, +2 more

6 terms

beneficially own regulatory

"may be deemed to beneficially own an aggregate of 153,327,675 shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

Common Units financial

"44,770,628 Common Units of Medline Holdings, LP (each a "Common Unit")"

Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.

Class B Common Stock financial

"an equal number of shares of Class B common stock, par value $0.0001 per share"

A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

exchange agreement regulatory

"Pursuant to the terms of an exchange agreement, dated as of December 16, 2025"

A written deal in which two parties agree to swap assets, securities or obligations under set terms—think of it as a formal swap or trade contract. For investors it matters because such agreements can change who owns what, alter a company’s capital structure, affect future cash flows or dilute existing shares, and therefore influence value and risk in a straightforward, contract-driven way.

Section 13(d) regulatory

"for purposes of Section 13(d) of the Securities Exchange Act of 1934"

group regulatory

"should not be construed to be an admission that any members are members of a "group""

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Available on EDGAR 08/07/2026 - 04:30 PM Accepted by SEC EDGAR 08/07/2026 - 04:30 PM Learn about SEC filing dates

FAQ

How much of Medline Inc. (MDLN) does Blackstone report owning in this Schedule 13G/A?

The reporting persons state they may be deemed to beneficially own 153,327,675 shares of Medline Class A common stock, representing 16.5% of the class, based on 875,111,752 shares outstanding as of May 28, 2026.

Which Blackstone-related entities are reporting ownership in Medline Inc. (MDLN)?

The report lists multiple entities, including BX Mozart ML-2 Holdco L.P., BX Mozart ML-1 Holdco L.P., several Mozart Aggregator vehicles, Blackstone Management Associates VIII L.P., Blackstone Holdings entities, Blackstone Inc., Blackstone Group Management L.L.C., and Stephen A. Schwarzman.

What percentage of Medline Inc. (MDLN) does each key Blackstone holder report?

Selected holders report: BX Mozart ML-2 Holdco L.P. 10.2%, BX Mozart ML-1 Holdco L.P. 4.9%, Mozart Aggregator II 10.5%, Blackstone Management Associates VIII L.P. 11.0%, and Blackstone Inc. and affiliates (including Stephen A. Schwarzman) 16.5% each.

How are Common Units and Class B common stock of Medline related to Class A shares?

Each Common Unit of Medline Holdings, LP is paired with one share of Class B common stock, which has no economic value and one vote. Under a December 16, 2025 exchange agreement, holders may exchange Common Units for Class A shares one-for-one, with the corresponding Class B shares cancelled.

What are the main direct Medline (MDLN) holdings of the Blackstone entities?

BX Mozart ML-2 Holdco L.P. directly holds 89,537,913 Class A shares. BX Mozart ML-1 Holdco L.P. holds 10,185 Class A shares and 44,770,628 Common Units. Mozart Aggregator II UNLV Holdco L.P. holds 10,250,904 Class A shares, and Mozart Aggregator II LP holds 1,990,467 Class A shares.

Do the Blackstone reporting persons admit being a group for Medline (MDLN) under Section 13(d)?

They state the ownership could be deemed beneficial but expressly disclaim beneficial ownership beyond the direct holders and state that the report should not be construed as an admission that they are members of a “group” under Sections 13(d) and 13(g).

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Medline Inc.

(Name of Issuer)

Class A Common Stock, par value $0.0001 per share

(Title of Class of Securities)

58507V107

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

BX Mozart ML-2 Holdco L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 89,537,913.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 89,537,913.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

89,537,913.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.2 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

BX Mozart ML-1 Holdco L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 44,780,813.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 44,780,813.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

44,780,813.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

Mozart Aggregator II UNLV Holdco L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 10,250,904.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 10,250,904.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

10,250,904.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.2 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

Mozart Aggregator UNLV Holdco L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 6,767,578.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,767,578.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,767,578.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.8 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

Mozart Aggregator II LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 91,528,380.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 91,528,380.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

91,528,380.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.5 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

BX Mozart ML-2 Holdco GP L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 89,537,913.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 89,537,913.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

89,537,913.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.2 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

BX Mozart ML-1 Holdco GP L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 44,780,813.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 44,780,813.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

44,780,813.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.9 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

BCP Mozart Aggregator L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 44,780,813.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 44,780,813.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

44,780,813.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

Blackstone Management Associates VIII L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 101,779,284.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 101,779,284.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

101,779,284.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

BCP 8 Holdings Mozart Manager L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 51,548,391.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 51,548,391.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

51,548,391.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.6 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

BMA VIII L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 153,327,675.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 153,327,675.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

153,327,675.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.5 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

Blackstone Holdings II L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 153,327,675.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 153,327,675.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

153,327,675.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.5 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

Blackstone Holdings I/II GP L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 153,327,675.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 153,327,675.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

153,327,675.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.5 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

Blackstone Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 153,327,675.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 153,327,675.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

153,327,675.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.5 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

Blackstone Group Management L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 153,327,675.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 153,327,675.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

153,327,675.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.5 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 58507V107

1

Names of Reporting Persons

Stephen A. Schwarzman

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 153,327,675.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 153,327,675.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

153,327,675.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.5 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Medline Inc.
(b)	Address of issuer's principal executive offices: 3 Lakes Drive, Northfield, Illinois 60093
Item 2.
(a)	Name of person filing: Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of: (i) BX Mozart ML-2 Holdco L.P. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (ii) BX Mozart ML-1 Holdco L.P. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (iii) Mozart Aggregator II UNLV Holdco L.P. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (iv) Mozart Aggregator UNLV Holdco L.P. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (v) Mozart Aggregator II LP c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (vi) BX Mozart ML-2 Holdco GP L.L.C. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (vii) BX Mozart ML-1 Holdco GP L.L.C. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (viii) BCP Mozart Aggregator L.P. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (ix) Blackstone Management Associates VIII L.P. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (x) BCP 8 Holdings Mozart Manager L.L.C. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (xi) BMA VIII L.L.C. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (xii) Blackstone Holdings II L.P. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (xiii) Blackstone Holdings I/II GP L.L.C. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (xiv) Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (xv) Blackstone Group Management L.L.C. c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: State of Delaware (xvi) Stephen A. Schwarzman c/o Blackstone Inc. 345 Park Avenue New York, NY 10154 Citizenship: United States
(b)	Address or principal business office or, if none, residence: See Item 2(a).
(c)	Citizenship: See Item 2(a).
(d)	Title of class of securities: Class A Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 58507V107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Items 4(a)-(c) with respect to each Reporting Person is set forth in Rows 5-11 of the applicable cover page hereto, and is incorporated herein by reference. As of June 30, 2026, the Reporting Persons may be deemed to beneficially own an aggregate of 153,327,675 shares of Class A common stock, par value $0.0001 per share (the "Class A Common Stock") of Medline Inc. (the "Issuer") as follows: BX Mozart ML-2 Holdco L.P. directly holds 89,537,913 shares of Class A Common Stock; BX Mozart ML-1 Holdco L.P. directly holds 10,185 shares of Class A Common Stock and 44,770,628 Common Units of Medline Holdings, LP (each a "Common Unit") and an equal number of shares of Class B common stock, par value $0.0001 per share (the "Class B Common Stock"); Mozart Aggregator II UNLV Holdco L.P. directly holds 10,250,904 shares of Class A Common Stock; Mozart Aggregator UNLV Holdco L.P. directly holds 1,539 shares of Class A Common Stock and 6,766,039 Common Units of Medline Holdings, LP and an equal number of shares of Class B Common Stock; and Mozart Aggregator II LP directly holds 1,990,467 shares of Class A Common Stock. BX Mozart ML-2 Holdco L.P., BX Mozart ML-1 Holdco L.P., Mozart Aggregator II UNLV Holdco L.P., Mozart Aggregator UNLV Holdco L.P. and Mozart Aggregator II LP are together referred to herein as the "Blackstone Holders." Shares of the Class B Common Stock have no economic value and have one vote per share. One share of Class B Common Stock is issued for each Common Unit held. Pursuant to the terms of an exchange agreement, dated as of December 16, 2025, holders have the right to exchange their Common Units for shares of the Class A Common Stock on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications. These exchange rights do not expire. Upon a sale or an exchange of Common Units for shares of Class A Common Stock, an equivalent number of shares of Class B Common Stock held by such holder will be automatically cancelled. BX Mozart ML-2 Holdco GP L.L.C. is the general partner of BX Mozart ML-2 Holdco L.P. Mozart Aggregator II LP is the managing member of BX Mozart ML-2 Holdco GP L.L.C. Blackstone Management Associates VIII L.P. is the general partner of Mozart Aggregator II LP. BX Mozart ML-1 Holdco GP L.L.C. is the general partner of BX Mozart ML-1 Holdco L.P. BCP Mozart Aggregator L.P. is the managing member of BX Mozart ML-1 Holdco GP L.L.C. BCP 8 Holdings Mozart Manager L.L.C. is the general partner of BCP Mozart Aggregator L.P. Blackstone Management Associates VIII L.P. is the general partner of Mozart Aggregator II UNLV Holdco L.P. BCP 8 Holdings Mozart Manager L.L.C. is the general partner of Mozart Aggregator UNLV Holdco L.P. Blackstone Management Associates VIII L.P. is the general partner of Mozart Aggregator II LP. BMA VIII L.L.C. is the general partner of Blackstone Management Associates VIII L.P. and the managing member of BCP 8 Holdings Mozart Manager L.L.C. Blackstone Holdings II L.P. is the managing member of BMA VIII L.L.C. Blackstone Holdings I/II GP L.L.C. is the general partner of Blackstone Holdings II L.P. Blackstone Inc. is the sole member of Blackstone Holdings I/II GP L.L.C. The sole holder of the Series II preferred stock of Blackstone Inc. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by its senior managing directors and controlled by its founder, Stephen A. Schwarzman. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person assumes responsibility for the accuracy or completeness of the information furnished by another Reporting Person. Each such Reporting Person may be deemed to beneficially own the Class A Common Stock beneficially owned directly by the Blackstone Holders or indirectly controlled by it or them, but neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that any Reporting Person (other than the Blackstone Holders to the extent they directly hold Issuer securities reported herein) is the beneficial owner of the Class A Common Stock referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Act"), or for any other purpose and each of the Reporting Persons expressly disclaims beneficial ownership of such shares of Class A Common Stock. The filing of this statement should not be construed to be an admission that any member of the Reporting Persons are members of a "group" for the purposes of Sections 13(d) and 13(g) of the Act.
(b)	Percent of class: Each of the Reporting Persons may be deemed to be the beneficial owner of the percentage of shares of Class A Common Stock listed on such Reporting Person's cover page, calculated pursuant to Rule 13d-3 of the Act. Calculations are based on 875,111,752 shares of Class A Common Stock outstanding as of May 28, 2026, as set forth in the Issuer's Final Prospectus filed pursuant to Rule 424(b)(4) filed with the Securities and Exchange Commission on May 26, 2026, and assumes the conversion of all of the Common Units beneficially owned by each respective Reporting Persons.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the information set forth in Row 5 on each cover page.
	(ii) Shared power to vote or to direct the vote: See the information set forth in Row 6 on each cover page.
	(iii) Sole power to dispose or to direct the disposition of: See the information set forth in Row 7 on each cover page.
	(iv) Shared power to dispose or to direct the disposition of: See the information set forth in Row 8 on each cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

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.

BX Mozart ML-2 Holdco L.P.

Signature:	/s/ Robert Brooks
Name/Title:	By: BX Mozart ML-2 Holdco GP L.L.C., its GP, By: Robert Brooks, Vice President
Date:	08/07/2026

BX Mozart ML-1 Holdco L.P.

Signature:	/s/ Robert Brooks
Name/Title:	By: BX Mozart ML-1 Holdco GP L.L.C., its GP, By: Robert Brooks, Vice President
Date:	08/07/2026

Mozart Aggregator II UNLV Holdco L.P.

Signature:	/s/ Robert Brooks
Name/Title:	By: Blackstone Management Associates VIII L.P., its GP, By: BMA VIII L.L.C., its GP, By: Robert Brooks, Authorized Signatory
Date:	08/07/2026

Mozart Aggregator UNLV Holdco L.P.

Signature:	/s/ Robert Brooks
Name/Title:	By: BCP 8 Holdings Mozart Manager L.L.C., its general partner, By: BMA VIII L.L.C., its MM, By: Robert Brooks, Authorized Signatory
Date:	08/07/2026

Mozart Aggregator II LP

Signature:	/s/ Robert Brooks
Name/Title:	By: Blackstone Management Associates VIII L.P., its GP, By: BMA VIII L.L.C., its GP, By: Robert Brooks, Authorized Signatory
Date:	08/07/2026

BX Mozart ML-2 Holdco GP L.L.C.

Signature:	/s/ Robert Brooks
Name/Title:	Robert Brooks, Vice President
Date:	08/07/2026

BX Mozart ML-1 Holdco GP L.L.C.

Signature:	/s/ Robert Brooks
Name/Title:	Robert Brooks, Vice President
Date:	08/07/2026

BCP Mozart Aggregator L.P.

Signature:	/s/ Robert Brooks
Name/Title:	By: BCP 8 Holdings Mozart Manager L.L.C., its general partner, By: BMA VIII L.L.C., its managing member, By: Robert Brooks, Authorized Signatory
Date:	08/07/2026

Blackstone Management Associates VIII L.P.

Signature:	/s/ Christopher Striano
Name/Title:	By: BMA VIII L.L.C., its general partner, By: Robert Brooks, Authorized Signatory
Date:	08/07/2026

BCP 8 Holdings Mozart Manager L.L.C.

Signature:	/s/ Christopher Striano
Name/Title:	By: BMA VIII L.L.C., its managing member, By: Christopher Striano, Senior Managing Director and Chief Operating Officer of Global Finance
Date:	08/07/2026

BMA VIII L.L.C.

Signature:	/s/ Christopher Striano
Name/Title:	Christopher Striano, Senior Managing Director and Chief Operating Officer of Global Finance
Date:	08/07/2026

Blackstone Holdings II L.P.

Signature:	/s/ Victoria Portnoy
Name/Title:	By: Blackstone Holdings I/II GP L.L.C., its general partner, By: Victoria Portnoy, Managing Director - Assistant Secretary
Date:	08/07/2026

Blackstone Holdings I/II GP L.L.C.

Signature:	/s/ Victoria Portnoy
Name/Title:	Victoria Portnoy, Managing Director - Assistant Secretary
Date:	08/07/2026

Blackstone Inc.

Signature:	/s/ Victoria Portnoy
Name/Title:	Victoria Portnoy, Managing Director - Assistant Secretary
Date:	08/07/2026

Blackstone Group Management L.L.C.

Signature:	/s/ Victoria Portnoy
Name/Title:	Victoria Portnoy, Managing Director - Assistant Secretary
Date:	08/07/2026

Stephen A. Schwarzman

Signature:	/s/ Stephen A. Schwarzman
Name/Title:	Stephen A. Schwarzman
Date:	08/07/2026