Blackstone Amends 13F to Disclose Massive $5.53B Stake in Medline Inc

Executive Summary

On October 9, 2026, Blackstone Inc. filed an amended Form 13F Holdings Report (13F-HR/A, Amendment No. 2) for the calendar quarter ended March 31, 2026. This amendment adds a significant new holding previously omitted, reflecting a substantial institutional position in Medline Inc.

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Key Holding Details

• Issuer Name: MEDLINE INC
• Class of Security: COM CL A
• CUSIP: 58507V107
• Total Position Value: $5,526,826,486 (~$5.53B)
• Shares Held: 124,198,348 shares
• Implied Valuation per Share: ~$44.50
• Investment Discretion: Other (OTR)
• Voting Authority:
  • Sole: 0
  • Shared: 124,198,348
  • None: 0
• Other Manager: Blackstone Management Partners L.L.C. (CRD: 000136978, Form 13F File No. 028-17363)

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Filing Context & Significance

1. Amendment Nature: Marked specifically as NEW HOLDINGS, this amendment discloses an investment that was not captured in the original Q1 2026 Form 13F filing. Such filings often occur following confidential treatment expirations or corporate restructurings/IPOs.
2. Capital Commitment: At over $5.5 billion, this represents one of the largest single healthcare/medical supply holdings across Blackstone's managed portfolios, reflecting the ongoing strategic private equity interest in Medline.
3. Managerial Discretion: Investment discretion and voting authority are shared directly with affiliated entity Blackstone Management Partners L.L.C.