BML Investment Partners takes 13.6% stake in Outset Medical (OM)

Rhea-AI Filing Summary

Outset Medical, Inc. ownership disclosure: BML Investment Partners, L.P. reports beneficial ownership of 2,519,706 shares of common stock, representing 13.6% of the class. The filing states shared voting and dispositive power of 2,519,701 shares and names Braden M. Leonard as indirect owner via BML Capital Management, LLC.

Insights

Institutional Ownership Analyst

Large passive stake disclosed by a Delaware investment partnership.

BML Investment Partners, L.P. reports 2,519,706 shares beneficially owned, equal to 13.6% of Outset Medical's common stock. The filing attributes shared voting and dispositive power to the partnership and identifies an indirect ownership link through its general partner.

Cash‑flow treatment or planned sales are not disclosed; subsequent filings would show any trading activity that changes this position.

Corporate Governance Specialist

Control and attribution clarified through general partner disclosures.

The signature block states that BML Capital Management, LLC is the general partner and Braden M. Leonard is the managing member, making him an indirect owner of the reported shares. The filing includes a disclaimer regarding statutory group status under Rule 13d‑5(b)(1).

Voting and disposition are reported as shared powers for nearly all disclosed shares; governance implications depend on any future amendments or additional disclosures.

Key Figures

Shares beneficially owned: 2,519,706 shares Percent of class: 13.6% Shared voting power: 2,519,701 shares +3 more

6 metrics

Shares beneficially owned 2,519,706 shares Amount reported in Item 4(a)

Percent of class 13.6% Percent of class reported in Item 4(b)

Shared voting power 2,519,701 shares Shared voting power reported in Item 4(c)(ii)

Shared dispositive power 2,519,701 shares Shared dispositive power reported in Item 4(c)(iv)

Filing type Schedule 13G/A (Amendment No. 3) Cover header of provided excerpt

Reporting date (signature) 05/18/2026 Signature date on filing

Key Terms

beneficially owned, shared dispositive power, Schedule 13G/A

3 terms

beneficially owned financial

"Amount beneficially owned: 2519706"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared dispositive power regulatory

"Shared Dispositive Power 2,519,701.00"

Schedule 13G/A regulatory

"(Amendment No. 3 ) Outset Medical, Inc."

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

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

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Accepted by SEC EDGAR 05/18/2026 - 10:02 AM Learn about SEC filing dates

FAQ

What stake does BML Investment Partners report in Outset Medical (OM)?

BML Investment Partners reports 2,519,706 shares beneficially owned, representing 13.6% of Outset Medical's common stock. The filing lists shared voting and dispositive power of 2,519,701 shares.

Who is the indirect owner named in the OM Schedule 13G/A filing?

Braden M. Leonard is identified as the indirect owner through BML Capital Management, LLC, the general partner of BML Investment Partners, L.P., per the signature and accompanying comments in the filing.

Does the filing say BML is part of a statutory group for OM shares?

No. The filing expressly disclaims that the reporting persons constitute a statutory group within the meaning of Rule 13d‑5(b)(1), per the comments accompanying the signature block.

Are voting and dispositive powers exclusive for the reported OM shares?

The filing reports 0 shares with sole voting or sole dispositive power and 2,519,701 shares with shared voting and shared dispositive power, indicating shared rather than sole control over those shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Outset Medical, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

690145206

(CUSIP Number)

05/15/2026

(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): 690145206

1

Names of Reporting Persons

BML Investment Partners, 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 0.00
6	Shared Voting Power 2,519,701.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,519,701.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,519,701.00

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)

13.6 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Outset Medical, Inc.
(b)	Address of issuer's principal executive offices: 3052 Orchard Dr., San Jose, United States, 95134
Item 2.
(a)	Name of person filing: BML Investment Partners, L.P.
(b)	Address or principal business office or, if none, residence: 65 E Cedar - Suite 2, Zionsville IN 46077
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 690145206
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: 2519706
(b)	Percent of class: 13.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 2519701
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 2519701
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:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

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.

BML Investment Partners, L.P.

Signature:	Braden M Leonard
Name/Title:	BML Capital Management, LLC its General Partner By: Braden M Leonard, its Managing Member
Date:	05/18/2026

Comments accompanying signature: BML Investment Partners, L.P. is a Delaware limited partnership whose sole general partner is BML Capital Management, LLC. The managing member of BML Capital Management, LLC is Braden M. Leonard. As a result, Braden M. Leonard is deemed to be the indirect owner of the shares held directly by BML Investment Partners, L.P. Despite such shared beneficial ownership, the reporting persons disclaim that they constitute a statutory group within the meaning of Rule 13d-5(b)(1) of the Exchange Act.