BML Investment discloses 10.5% Outset Medical (OM) ownership stake

Rhea-AI Filing Summary

BML Investment Partners, L.P. reported beneficial ownership of 1,902,201 shares of Outset Medical, Inc. common stock, representing 10.5% of the class as of the event dated 02/12/2026. All of these shares are held with shared voting and shared dispositive power; BML has no sole voting or sole dispositive power.

BML Investment Partners is a Delaware limited partnership whose sole general partner is BML Capital Management, LLC, managed by Braden M. Leonard, who is deemed an indirect owner of the shares. The reporting persons certify the position is not held for the purpose of changing or influencing control of Outset Medical and disclaim being part of a statutory group.

Insights

Equity ownership and governance analyst

Passive holder reports a 10.5% stake in Outset Medical.

BML Investment Partners, L.P. reports owning 1,902,201 Outset Medical shares, or 10.5% of the common stock. All voting and dispositive power over these shares is shared, with no sole control, indicating a coordinated but non‑individual decision structure.

The ownership sits within an investment structure where BML Capital Management, LLC is the general partner and Braden M. Leonard is managing member, so Leonard is deemed an indirect owner. However, the filers explicitly state the holdings are not intended to change or influence control of Outset Medical, framing this as a passive investment under Schedule 13G/A.

The certification and explicit disclaimer of group status under Rule 13d‑5(b)(1) limit implications for corporate control. Any future impact will depend on how this sizable but passive stake interacts with other large shareholders as disclosed in subsequent ownership filings.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Outset Medical, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

690145206

(CUSIP Number)

02/12/2026

(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)

SCHEDULE 13G

CUSIP No. 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 1,902,201.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,902,201.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,902,201.00

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

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: 1902201
(b)	Percent of class: 10.5 %
(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: 1902201
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1902201
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:	02/13/2026

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.

FAQ

How many Outset Medical (OM) shares does BML Investment Partners own?

BML Investment Partners, L.P. beneficially owns 1,902,201 shares of Outset Medical common stock. This position represents 10.5% of the company’s outstanding common shares, giving BML a significant but minority ownership stake according to the Schedule 13G/A filing.

What percentage of Outset Medical (OM) does BML Investment Partners hold?

BML Investment Partners holds 10.5% of Outset Medical’s common stock. The filing shows beneficial ownership of 1,902,201 shares, making BML a major but non-controlling shareholder under U.S. securities rules for institutional holders above the 5% threshold.

Is BML Investment Partners seeking control of Outset Medical (OM)?

BML Investment Partners certifies the shares were not acquired to change or influence control of Outset Medical. The Schedule 13G/A states the holdings are not in connection with any transaction aimed at control, indicating a passive investment intent under applicable SEC rules.

Who is the indirect owner of BML Investment Partners’ Outset Medical (OM) shares?

Braden M. Leonard is deemed the indirect owner of the shares held by BML Investment Partners. BML is a Delaware limited partnership whose general partner is BML Capital Management, LLC, and Leonard is the managing member of that general partner entity, according to the filing.

Does BML Investment Partners have sole or shared voting power over Outset Medical (OM)?

BML Investment Partners reports zero sole voting power and 1,902,201 shares with shared voting power. It likewise has zero sole dispositive power and 1,902,201 shares with shared dispositive power, meaning decisions over these shares are made on a shared, not individual, basis.

What SEC form did BML Investment Partners file for its Outset Medical (OM) stake?

BML Investment Partners filed an amended Schedule 13G (Schedule 13G/A) for its Outset Medical holdings. This form is typically used by investors taking a passive position above 5% of a company’s shares rather than seeking to influence or change corporate control.