Carlyle Group Inc. Reports 20.6% Beneficial Ownership in Medline Inc. (MDLN)

On May 15, 2026, The Carlyle Group Inc. and its affiliated entities filed a Schedule 13G/A reporting a significant ownership stake in Medline Inc. (MDLN). As of the event date on March 31, 2026, the reporting persons collectively hold beneficial ownership of 187,083,713 shares of Class A Common Stock, representing 20.6% of the class. This figure is based on 845,611,435 shares outstanding and includes shares underlying common units of Medline Holdings, LP, which are convertible on a one-to-one basis. The filing lists numerous subsidiary holding companies, including various 'CP Circle ML' and 'Carlyle Mozart' entities, through which the shares are held. The Carlyle Group Inc. maintains shared voting and dispositive power over the total reported shares. This amendment reflects a substantial position in the issuer by the private equity firm, managed through its complex internal partnership structure across Delaware and Cayman Islands jurisdictions.