ADIA reports 4.9% stake in Medline Inc. (MDLN) via subsidiary

Rhea-AI Filing Summary

Medline Inc. ownership update: Abu Dhabi Investment Authority reports beneficial ownership of 41,355,340 shares of Class A Common Stock (including direct and shared holdings), representing 4.9% of the class. Platinum Falcon B 2018 RSC Limited reports 40,838,099 shares, representing 4.8%. The percent calculations are based on 845,611,435 shares outstanding as reported in Medline's March 6, 2026 prospectus.

Key Figures

ADIA total holdings: 41,355,340 shares Platinum Falcon holdings: 40,838,099 shares Percent of class (ADIA): 4.9% +2 more

5 metrics

ADIA total holdings 41,355,340 shares Beneficially owned per filing

Platinum Falcon holdings 40,838,099 shares Direct holdings reported for Platinum Falcon

Percent of class (ADIA) 4.9% Calculated using prospectus outstanding figure

Percent of class (Platinum Falcon) 4.8% Calculated using prospectus outstanding figure

Shares outstanding reference 845,611,435 shares As reported in Medline prospectus dated March 6, 2026

Key Terms

Schedule 13G/A, beneficially owned, underwriters' over-allotment option

3 terms

Schedule 13G/A regulatory

"Amendment No. 1 Schedule 13G/A cover disclosures"

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.

beneficially owned financial

"Amount beneficially owned: See responses to Item 9"

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.

underwriters' over-allotment option financial

"after giving effect to the full exercise of the underwriters' over-allotment option"

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Medline Inc.

(Name of Issuer)

Class A Common Stock, par value $0.0001 per share

(Title of Class of Securities)

58507V107

(CUSIP Number)

03/31/2026

(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): 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 40,838,099.00
7	Sole Dispositive Power 517,241.00
8	Shared Dispositive Power 40,838,099.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

41,355,340.00

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)

4.9 %

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 845,611,435 shares of Class A Common Stock outstanding as reported in Medline Inc.'s prospectus filed pursuant to Rule 424(b)(4) with the Securities and Exchange Commission on March 6, 2026, after giving effect to the full exercise of the underwriters' over-allotment option, as described therein.

SCHEDULE 13G

CUSIP Number(s): 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 40,838,099.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 40,838,099.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

40,838,099.00

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)

4.8 %

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 40,838,099 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 845,611,435 shares of Class A Common Stock outstanding as reported in Medline Inc.'s prospectus filed pursuant to Rule 424(b)(4) with the Securities and Exchange Commission on March 6, 2026, after giving effect to the full exercise of the underwriters' over-allotment option, as described therein.

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/A 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. 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.
	Ownership of 5 percent or less of a class
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:	05/07/2026

Signature:	/s/ Ahmed Salem Abdulla Melaih AlNeyadi
Name/Title:	Ahmed Salem Abdulla Melaih AlNeyadi/Authorized Signatory
Date:	05/07/2026

Platinum Falcon B 2018 RSC Limited

Signature:	/s/ Saif Surour Omair Maaded AlMashghouni
Name/Title:	Saif Surour Omair Maaded AlMashghouni/Authorized Signatory
Date:	05/07/2026

Signature:	/s/ Ahmed Salem Abdulla Melaih AlNeyadi
Name/Title:	Ahmed Salem Abdulla Melaih AlNeyadi/Authorized Signatory
Date:	05/07/2026

FAQ

What stake does Abu Dhabi Investment Authority hold in Medline (MDLN)?

Abu Dhabi Investment Authority beneficially owns 41,355,340 shares of Medline Class A Common Stock, representing 4.9% of the class. The percent uses 845,611,435 shares outstanding from Medline's March 6, 2026 prospectus after overallotment.

How many shares does Platinum Falcon hold in Medline (MDLN)?

Platinum Falcon B 2018 RSC Limited beneficially owns 40,838,099 shares of Medline Class A Common Stock, representing 4.8% of the class based on 845,611,435 shares outstanding reported in Medline's March 6, 2026 prospectus.

What basis was used to calculate the ownership percentages in the filing for MDLN?

Percentages are calculated using 845,611,435 shares outstanding as disclosed in Medline's prospectus filed pursuant to Rule 424(b)(4) on March 6, 2026, after giving effect to the full exercise of the underwriters' over-allotment option.

Are Abu Dhabi Investment Authority and Platinum Falcon related in the MDLN filing?

Yes. Platinum Falcon is a wholly owned subsidiary of the Abu Dhabi Investment Authority, and under applicable rules ADIA may be deemed the beneficial owner of the shares directly held by Platinum Falcon, as stated in the filing.