Align Technology, Inc.

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 673 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Unverified lead (a) CONFIRMED: Align holds a minority, non-controlling equity investment in Heartland Dental Holding Corporation, a private dental support organization, sized at $281.7 million carrying value as of 30 Jun 2026 per the Q2 2026 10-Q, less than 5% equity interest (exact percentage not disclosed). Total cash invested across four tranches (Apr 2023, Apr 2024, Mar 2026, May 2026) was $250.0 million.
• Unverified lead (b) PARTIALLY CONFIRMED, with a correction: Align discloses NON-MARKETABLE EQUITY SECURITIES (Heartland and Smile Doctors) accounted for under the ASC 321 measurement alternative (cost, minus impairment, adjusted for observable transactions), not under the equity method. The Q2 2026 10-Q explicitly states Align 'did not hold any material investments accounted for under this model' (equity method) as of 30 Jun 2026, and the FY2025 10-K makes the identical statement for both FY2025 and FY2024. So Align's equity-method line is real as an accounting policy disclosure but is currently empty/immaterial in practice; only the non-marketable equity securities (Heartland, Smile Doctors) are actually sized.
• Searched in full for holdings: the newest 10-Q (period 30 Jun 2026, filed 5 Aug 2026) and the newest 10-K (FY2025, filed 27 Feb 2026) for the terms 'equity method', 'non-marketable equity', 'equity investments', 'unrealized gain', 'joint venture', 'cost method', 'investments in affiliates', 'variable interest entity'. The 10-Q is the fresher and controlling filing (it postdates the 10-K by over 5 months and carries the June 2026 Heartland/Smile Doctors tranches the 10-K predates). 'Joint venture' returned zero hits in the 10-K; Align frames all of this activity as 'Investments in Privately Held Companies', not JVs. 'Variable interest entity' returned one hit, a policy statement that Align evaluates whether an investee is a VIE, with no VIE actually consolidated.
• Checked Exhibit 21 (subsidiaries list) of the FY2025 10-K: it is a bare, very short list naming only Align Technology Switzerland GmbH as the registrant's principal wholly owned subsidiary, with NO ownership-percentage column of any kind. This is a genuine negative, not evidence of an unexplored source; Heartland and Smile Doctors (both minority, non-controlling stakes) would not appear in a subsidiaries exhibit regardless.
• The combined 'investments in privately held companies' balance was $327.8 million at 30 Jun 2026 and $216.2 million at 31 Dec 2025, covering both Heartland and Smile Doctors (and possibly other unnamed minor positions) together. Heartland alone is explicitly and separately disclosed ($281.7m at 30 Jun 2026, $174.0m at 31 Dec 2025) so it is used directly. Smile Doctors' own carrying value is never separately disclosed (only its $40.0m cumulative cost), so per the project rule against assigning a combined balance to one investee, Smile Doctors is recorded with shares and value_usd both null; the implied remainder (~$46.1m at 30 Jun 2026) is noted but not assigned to it as a filed figure.
• Register self-gate, computed on this final file exactly as the chart computes it (members rolling into 'All current directors and executive officers as a group' counted at full value, the container reduced to its residual, everything else at full value): 11 rows, total 36,965,968 shares, 71,039,852 shares outstanding, 52.04% of the company. This is on the higher end of the typical 25-45% band the project brief expects but still under the 55% flag threshold; it is consistent with the fact that this project's own 40-holder 31-Mar-2026 ALGN register snapshot (a stale, incomplete list) already sums to about 77.7% of shares outstanding among institutions alone, so a top-9-institution-plus-insiders subset landing near 52% is plausible rather than anomalous.
• Vanguard: parent CIK 0000102909 filed Form 13F-NT (notice, no holdings) for Q2 2026, filed 13 Aug 2026, so the position is reported entirely through eight successor entities, all summed above: Vanguard Fiduciary Trust Co, Vanguard Investments Australia Ltd, Vanguard Asset Management Ltd, Vanguard Personalized Indexing Management LLC, Vanguard Global Advisers LLC, Vanguard National Trust Co, Vanguard Capital Management LLC, Vanguard Portfolio Management LLC.
• Capital Group: five of the six entities named in the project brief as recurring Capital Group registrants hold ALGN (Capital World Investors, Capital International Investors, Capital International SARL, Capital International Ltd /CA/, Capital International, Inc./CA/); the sixth, Capital Research Global Investors (CIK 0001422848), was independently checked and its Q2 2026 13F-HR carries NO row for Align's CUSIP 016255101, confirmed at zero rather than added as a row (per project rule that a holder checked and found at zero is a note, not a row; here it is folded into this note rather than the family-total method_note above for brevity).
• T. Rowe Price was checked on both registrants named in the project brief: T. Rowe Price Associates, Inc. (CIK 0000080255) holds a small position, 98,006 shares of Align Technology (CUSIP 016255101) per its Q2 2026 13F-HR filed 14 Aug 2026, well below the top-10 cutoff used here and so not added as a register row; T. Rowe Price Investment Management, Inc. (CIK 0001897612) holds ZERO Align Technology shares in the same period (its filing shows only an unrelated issuer, Alignment Healthcare Inc, CUSIP 01625V104, which was excluded here as a different company under a similar name).
• Name-collision hazard flagged for future reference: multiple 13F filers hold both 'ALIGN TECHNOLOGY INC' (CUSIP 016255101, this company) and 'ALIGNMENT HEALTHCARE INC' (CUSIP 01625V104, an unrelated managed-care company). The fragment 'ALIGN' alone matches both; every figure in this file was pulled using the longer fragment 'ALIGN TECHNOLOGY' (or, for Kayne Anderson Rudnick, the filer's own spelling 'ALIGN TECH INC') and cross-checked against the CUSIP.
• Implied share price across every fresh Q2 2026 13F row clusters tightly between $168.44 and $168.68, which is an internal consistency check that all rows are denominated in the same instrument (Align common stock) at the same 30 Jun 2026 basis.