Abu Dhabi Investment Authority takes 5.9% Medline (MDLN) stake via Platinum Falcon

Rhea-AI Filing Summary

Medline Inc. received a Schedule 13G showing a significant ownership position by Abu Dhabi Investment Authority (ADIA) and its subsidiary Platinum Falcon B 2018 RSC Limited. ADIA reports beneficial ownership of 47,515,277 shares of Medline Class A common stock, representing 5.9% of the outstanding class.

Within this amount, Platinum Falcon directly owns 46,998,036 Class A shares, representing 5.8% of the class, while ADIA directly owns 517,241 Class A shares. The reported percentages are based on 811,418,179 Class A shares outstanding as of December 18, 2025, as disclosed in Medline’s prospectus.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Medline Inc.

(Name of Issuer)

Class A Common Stock, par value $0.0001 per share

(Title of Class of Securities)

58507V107

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. 58507V107

1

Names of Reporting Persons

Abu Dhabi Investment Authority

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 ARAB EMIRATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 517,241.00
6	Shared Voting Power 46,998,036.00
7	Sole Dispositive Power 517,241.00
8	Shared Dispositive Power 46,998,036.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

47,515,277.00

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)

5.9 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: (1) Abu Dhabi Investment Authority is the direct owner of 517,241 of the shares of Class A Common Stock represented herein. (2) The percent calculation is based on 811,418,179 shares of Class A Common Stock outstanding as of December 18, 2025 as reported in Medline Inc.'s prospectus filed pursuant to Rule 424(b)(4) with the Securities and Exchange Commission on December 18, 2025.

SCHEDULE 13G

CUSIP No. 58507V107

1

Names of Reporting Persons

Platinum Falcon B 2018 RSC Limited

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 ARAB EMIRATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 46,998,036.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 46,998,036.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

46,998,036.00

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)

5.8 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: (1) Platinum Falcon B 2018 RSC Limited ("Platinum Falcon") is the direct owner of 46,998,036 of the shares of Class A Common Stock reported herein. Platinum Falcon is a wholly owned subsidiary of Abu Dhabi Investment Authority. Pursuant to the rules and regulations of the Securities and Exchange Commission, Abu Dhabi Investment Authority may be deemed to be the beneficial owner of the shares of Class A Common Stock directly held by Platinum Falcon. (2) The percent calculation based on 811,418,179 shares of Class A Common Stock outstanding as of December 18, 2025 as reported in Medline Inc.'s prospectus filed pursuant to Rule 424(b)(4) with the Securities and Exchange Commission on December 18, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Medline Inc.
(b)	Address of issuer's principal executive offices: 3 Lakes Drive, Northfield, IL 60093
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed on behalf of the following: 1. Abu Dhabi Investment Authority 2. Platinum Falcon B 2018 RSC Limited
(b)	Address or principal business office or, if none, residence: 1. 211 Corniche Street P.O. Box 3600 Abu Dhabi, United Arab Emirates 3600 2. Level 26, Al Khatem Tower Abu Dhabi Global Market Square Al Maryah Island, Abu Dhabi United Arab Emirates
(c)	Citizenship: 1. Abu Dhabi Investment Authority (ADIA) is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. ADIA is a public institution. 2. Platinum Falcon B 2018 RSC Limited is a restricted scope company organized under the laws of the Abu Dhabi Global Market, Abu Dhabi, United Arab Emirates.
(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: See responses to Item 9 on each cover page.
(b)	Percent of class: See responses to Item 11 on each cover page.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See responses to Item 5 on each cover page.
	(ii) Shared power to vote or to direct the vote: See responses to Item 6 on each cover page.
	(iii) Sole power to dispose or to direct the disposition of: See responses to Item 7 on each cover page.
	(iv) Shared power to dispose or to direct the disposition of: See responses to Item 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.

Abu Dhabi Investment Authority

Signature:	/s/ Saif Surour Omair Maaded AlMashghouni
Name/Title:	Saif Surour Omair Maaded AlMashghouni/Authorized Signatory
Date:	02/11/2026

Signature:	/s/ Ahmed Salem Abdulla Melaih AlNeyadi
Name/Title:	Ahmed Salem Abdulla Melaih AlNeyadi/Authorized Signatory
Date:	02/11/2026

Platinum Falcon B 2018 RSC Limited

Signature:	/s/ Saif Surour Omair Maaded AlMashghouni
Name/Title:	Saif Surour Omair Maaded AlMashghouni/Authorized Signatory
Date:	02/11/2026

Signature:	/s/ Ahmed Salem Abdulla Melaih AlNeyadi
Name/Title:	Ahmed Salem Abdulla Melaih AlNeyadi/Authorized Signatory
Date:	02/11/2026

Exhibit Information

Exhibit 1: Joint Filing Agreement

FAQ

What ownership stake in Medline Inc. (MDLN) is reported in this Schedule 13G?

Abu Dhabi Investment Authority reports beneficial ownership of 47,515,277 Medline Class A shares, or 5.9% of the class. This figure includes shares directly owned by ADIA and those held through its wholly owned subsidiary, Platinum Falcon B 2018 RSC Limited.

How many Medline Inc. (MDLN) shares does Platinum Falcon B 2018 RSC Limited hold?

Platinum Falcon B 2018 RSC Limited directly owns 46,998,036 Medline Class A shares, representing 5.8% of the class. It is a wholly owned subsidiary of Abu Dhabi Investment Authority, so those shares are also deemed beneficially owned by ADIA.

What is the total number of Medline Inc. (MDLN) Class A shares outstanding used for the ownership calculation?

The filing bases its ownership percentages on 811,418,179 Medline Class A shares outstanding as of December 18, 2025. This outstanding share count comes from Medline’s prospectus filed under Rule 424(b)(4) with the Securities and Exchange Commission.

What voting and dispositive powers are reported over Medline Inc. (MDLN) shares?

Abu Dhabi Investment Authority reports sole voting and dispositive power over 517,241 shares and shared power over 46,998,036 shares. Platinum Falcon reports shared voting and dispositive power over its 46,998,036 directly held Class A shares of Medline.

Who are the reporting persons on this Medline Inc. (MDLN) Schedule 13G filing?

The Schedule 13G is filed on behalf of Abu Dhabi Investment Authority and Platinum Falcon B 2018 RSC Limited. ADIA is a public institution established by the Government of Abu Dhabi, and Platinum Falcon is its wholly owned restricted scope company subsidiary.

What class of Medline Inc. (MDLN) securities is covered by this Schedule 13G?

The filing covers Medline Inc. Class A Common Stock with a par value of $0.0001 per share. The securities are identified by CUSIP number 58507V107, and the reported ownership relates specifically to this class of common stock.