Medline (MDLN): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
9 concentrated managers hold it (−1 vs last quarter); combined they have held more shares for 2 quarters in a row (5 added, 1 trimmed). Its median weight in those portfolios is 5.1%. 1 officer or director bought in 6 months.
Who owns Medline?
Holders that filed a Schedule 13D or 13G with the SEC for owning more than 5% of the shares: Mozart Holdco (13G filed Feb 13, 2026), Carlyle Group (13G/A filed May 15, 2026), BMA Viii L.l.c. (13G/A filed Aug 7, 2026), Hellman & Friedman Investors X (13G/A filed Aug 11, 2026) and GIC Private (13G/A filed Oct 30, 2026). Hux Investment Pte. Ltd., Golwas Douglas P and Mend Partners II, L.P. are listed on their Form 4 filings as owners of more than 10%. As of Jun 30, 2026, the largest holders reported on Form 13F were Carlyle Group (187.1 million shares), Blackstone (101.8 million shares) and H&F Corporate Investors X (70.9 million shares).
Which institutions hold the most Medline shares?
Per Form 13F filings as of Jun 30, 2026:
- 1. Carlyle Group: 187.1 million shares
- 2. Blackstone: 101.8 million shares
- 3. H&F Corporate Investors X: 70.9 million shares
- 4. FMR: 47.0 million shares
- 5. Capital Research Global Investors: 40.0 million shares
- 6. Invesco: 38.3 million shares
- 7. BlackRock: 26.4 million shares
- 8. Morgan Stanley: 21.6 million shares
- 9. Lone Pine Capital: 21.0 million shares
- 10. Massachusetts Financial Services: 19.9 million shares
Sources:13G by Mozart Holdco (Feb 13, 2026) ↗13G/A by Carlyle Group (May 15, 2026) ↗13G/A by BMA Viii L.l.c. (Aug 7, 2026) ↗13G/A by Hellman & Friedman Investors X (Aug 11, 2026) ↗13G/A by GIC Private (Oct 30, 2026) ↗All of the company's proxy statements on EDGAR ↗
With more than one share class, a 13D or 13G counts shares convertible from another class as owned, so we do not show its percentage. We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Medline revenue
Medline reported annual revenue of $28.43 billion for fiscal year 2025 (year ended December 31, 2025), according to its Form 10-K filed with the SEC (XBRL data).
Well-known investors holding it
Stephen Mandel 13F (Q2 2026)George Soros 13F (Q2 2026)Andreas Halvorsen 13F (Q2 2026)
Quarter flow (concentrated managers)
Change in managers (10 → 9): 1 opened · 2 exited = −1
Net flow in the quarter: +$795M (+20.2 M shares) · bought $1.0 bn and sold $219MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
Accumulation: combined they have held more shares for 2 quarters in a row (5 added, 1 trimmed). It is the combined share count of those still holding it: one large buyer can outweigh many who trimmed.
The set of concentrated managers changed between quarters: with the set as it was then, 14 held it last quarter (the chart point); with today's set, 10 (the base for the change).
Concentrated managers holding it
- Lone Pine CapitalIncreased$827M5.1%+2.2 pp
- Egerton Capital (UK) LLPIncreased$650M6.3%+4.6 pp
- SurgoCap PartnersIncreased$295M9.5%+1.8 pp
- Unisphere EstablishmentIncreased$145M1.2%+0.4 pp
- Durable Capital PartnersReduced$104M1.0%−1.8 pp
- MBB Public Markets I$96.3M10.4%
- Khrom Capital ManagementIncreased$96.1M8.0%+5.7 pp
- Cadian Capital ManagementNew$3.9M0.3%+0.3 pp
- RTW Investments$2.8M0.0%
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Other relevant holders
Filers with $100M or more in the stock that do not count as concentrated managers because of their type: they are left out of the counts, the consensus and the accumulation.
- Carlyle GroupPrivate equity or venture capital$7.4 bn73.8%
- BlackstonePrivate equity or venture capital$4.0 bn11.0%
- H&F Corporate Investors XSingle-position portfolio$2.8 bn100.0%
- Norges BankPension or sovereign fund$334M0.0%
- Healthcare of Ontario Pension Plan Trust FundPension or sovereign fund$290M0.4%
- Canada Pension Plan Investment BoardPension or sovereign fund$142M0.1%
Largest holders of MDLN (all 13F filers)
- Carlyle Group187.1 MPrivate equity or venture capital0
- Blackstone101.8 MPrivate equity or venture capital−22.4 M
- H&F Corporate Investors X70.9 MSingle-position portfolio−15.6 M
- FMR47.0 MInvestment firm+10.4 M
- Capital Research Global Investors40.0 MInvestment firm+16.8 M
- Invesco38.3 MInvestment firm+17.4 M
- BlackRock26.4 MIndex manager+9.5 M
- Morgan Stanley21.6 MBank or trading desk+5.9 M
- Lone Pine Capitalconcentrated21.0 MInvestment firm+9.2 M
- Massachusetts Financial Services19.9 MInvestment firm+8.3 M
- Shares
- 187.1 M
- Change
- 0
See more
- Type
- Private equity or venture capital
- Value
- $7.4 bn
- Shares
- 101.8 M
- Change
- −22.4 M
See more
- Type
- Private equity or venture capital
- Value
- $4.0 bn
- Shares
- 70.9 M
- Change
- −15.6 M
See more
- Type
- Single-position portfolio
- Value
- $2.8 bn
- Shares
- 47.0 M
- Change
- +10.4 M
See more
- Type
- Investment firm
- Value
- $1.9 bn
- Shares
- 40.0 M
- Change
- +16.8 M
See more
- Type
- Investment firm
- Value
- $1.6 bn
- Shares
- 38.3 M
- Change
- +17.4 M
See more
- Type
- Investment firm
- Value
- $1.5 bn
- Shares
- 26.4 M
- Change
- +9.5 M
See more
- Type
- Index manager
- Value
- $1.0 bn
- Shares
- 21.6 M
- Change
- +5.9 M
See more
- Type
- Bank or trading desk
- Value
- $852M
- Lone Pine Capitalconcentrated
- Shares
- 21.0 M
- Change
- +9.2 M
See more
- Type
- Investment firm
- Value
- $827M
- Shares
- 19.9 M
- Change
- +8.3 M
See more
- Type
- Investment firm
- Value
- $787M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Fundamentals
12-month figures to Sep 26, 2026 · balance sheet as of Sep 26, 2026.
- Operating margin
- 5.7%
- Net margin
- —
- ROE
- —
- Revenue (TTM)
- $30.7 bn
- Revenue growth
- —
- Net income (TTM)
- —
- Net debt / EBITDA
- 3.2x
- Free cash flow (TTM)
- $1.9 bn
- Quality vs sector
- 39/100
Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Earnings quality and debt
- Operating cash flow ÷ net income (12 months)
- no datanot calculated with negative net income
- Interest coverage (operating income ÷ interest)
- 2.3 timesfiscal 2025
- Debt due within 12 months
- $29.0M0.01 times cash and investments
- Year 1$28.0M
- Year 2$27.0M
- Year 3$8.0 bn
- Year 4$28.0M
- Year 5—
- Later—
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
10% owners who bought (6 m): 0
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
Flagged material events (8-K)
Change in directors or officers (Item 5.02)
Change in directors or officers (Item 5.02)
Change in directors or officers (Item 5.02)
Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.
All material events (8-K)
Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.
Other Health Care stocks in managers' portfolios
Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.
- CG OncologyCGON · 9 managers
- Madrigal PharmaceuticalsMDGL · 9 managers
- Aura BiosciencesAURA · 10 managers
- Editas MedicineEDIT · 10 managers
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- Viridian TherapeuticsVRDN · 10 managers