Singapore's GIC Private Limited and two affiliated entities filed Amendment No. 2 to a Schedule 13G with the SEC on November 6, 2026, disclosing aggregate beneficial ownership positions in Medline Inc.'s Class A Common Stock as of November 4, 2026.

Key Highlights

  • GIC Private Limited stake: GIC beneficially owns 74,634,102 shares of Medline Inc. Class A Common Stock, representing 8.49% of the class.
  • Subsidiary positions: GIC Special Investments Private Limited and Hux Investment Pte. Ltd. each beneficially own 59,408,506 shares, or 6.76% of the class.
  • Sole voting and dispositive power: GIC holds sole voting and dispositive power over 9,183,061 shares, with shared power over an additional 65,451,041 shares.
  • Share base used: All percentages are based on 878,657,055 shares of Class A Common Stock outstanding as reported in Medline Inc.'s quarterly report filed November 4, 2026.
  • Ownership structure: GIC SI is wholly owned by GIC, and GIC itself is wholly owned by the Government of Singapore, which disclaims beneficial ownership of the reported shares.
  • Event date: The date of the event requiring this filing is stated as November 4, 2026.

GIC's Beneficial Ownership Structure in Medline Inc.

According to the filing, GIC Private Limited is a fund manager with only two clients: the Government of Singapore and the Monetary Authority of Singapore. Under its investment management agreement with the Government of Singapore, GIC has been granted sole discretion to exercise voting rights and dispositive power over shares managed on that client's behalf. GIC holds 9,183,061 shares directly with sole voting and dispositive power, while sharing the power to vote and dispose of 6,042,535 shares beneficially owned by it with the Monetary Authority of Singapore.

Hux Investment Pte. Ltd., which holds 59,408,506 shares directly, shares voting and dispositive power over those shares jointly with GIC Special Investments Private Limited and GIC. GIC Special Investments Private Limited is described in the filing as the private equity investment arm of GIC and is wholly owned by GIC. The filing notes that GIC "was set up with the sole purpose of managing Singapore's foreign reserves." Medline Inc., the issuer, is a healthcare supply company headquartered at 3 Lakes Drive, Northfield, Illinois 60093, and its Class A Common Stock carries a par value of $0.0001 per share (CUSIP: 58507V107). The filing does not identify a trading exchange or ticker symbol for Medline Inc. in the Schedule 13G text.

All three reporting persons are incorporated in the Republic of Singapore. The filing certifies, as required, that the securities "were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer."

What Was Disclosed

GIC Private Limited, GIC Special Investments Private Limited, and Hux Investment Pte. Ltd. filed Amendment No. 2 to a Schedule 13G disclosing their respective beneficial ownership positions in Medline Inc. Class A Common Stock, with GIC reporting the largest aggregate position at 74,634,102 shares, or 8.49%.