Henry Schein, 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 549 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

• LEAD 1 (holdings, dental technology JV) CONFIRMED: Henry Schein consolidates Henry Schein One, LLC, a 2018 joint venture with Internet Brands. Internet Brands' noncontrolling interest has grown from an initial 26% to a currently disclosed 33.6% (FY2025 10-K, Note 24), meaning Henry Schein, Inc. itself holds the complementary, controlling 66.4% interest, a majority but NOT wholly owned stake, exactly as the lead described. This is recorded as the single row in `holdings`. No share/unit count or dollar value is disclosed for the JV interest itself; it is an LLC membership interest, not a listed-class instrument, so shares/value_usd are null.
• LEAD 1 second part (minority equity stakes in various dental/medical businesses): the FY2025 10-K states only, in Note 24, 'We have interests in entities that we account for under the equity accounting method,' disclosing related-party sales ($56 million in FY2025) and purchases ($19 million in FY2025) to/from 'such entities' but naming NO specific investee and giving NO combined balance-sheet figure for the equity-method investments themselves (only the transaction volumes). This is weaker than the classic 'one combined balance covering several named investees' case in the brief: here there is not even a combined balance to misassign, just an unnamed, unsized disclosure. Per project rule, nothing is modelled or invented from this; it is recorded here and in `unknowns` as a genuine, sourced negative rather than an omission.
• The $895 million (FY2025) / $806 million (FY2024) 'redeemable noncontrolling interests' balance-sheet line (Note 20) explicitly covers 'minority stockholders in certain of our subsidiaries' as a class, i.e. Henry Schein One/Internet Brands PLUS other consolidated subsidiaries with put rights. It is a combined figure and was deliberately NOT assigned to the Henry Schein One holding per project rule; it is recorded here and in `unknowns` instead.
• Exhibit 21 (FY2025 10-K subsidiaries list) was checked in full: it is a bare name list with NO ownership-percentage column for any entity (including the international Henry Schein One subsidiaries: Henry Schein One Italia S.r.l., Henry Schein One Australia, Henry Schein One New Zealand, HS1 Holdings I LLC, etc.), a genuine negative rather than evidence of looking in the wrong place. It does independently corroborate that Henry Schein One, LLC and Lighthouse 360, Inc. are described as 'consolidated, majority-owned subsidiaries' of Henry Schein Practice Solutions Inc., which is the textual basis for treating the JV as majority-but-not-wholly-owned.
• LEAD 2 (register, private-equity strategic holder) CONFIRMED: KKR, via KKR Hawaii Aggregator L.P. and a chain of affiliated funds ultimately controlled by KKR & Co. Inc., is Henry Schein's LARGEST shareholder at 18,853,071 shares (16.92% of company.shares_outstanding; 16.43% as separately stated in the 2026 proxy against its own record-date share count). This began as a $250 million, 3,285,151-share private placement (29 Jan 2025 Strategic Partnership Agreement, closed 16 May 2025) with two KKR-designated board seats, and grew substantially through further purchases tracked in a Schedule 13D (original filing 17 Mar 2025, most recent amendment 10 Mar 2026). This is exactly the kind of holder a 13F register under-reports: KKR's own 13F-filing entity ('Kohlberg Kravis Roberts & Co. L.P.', CIK 0001399770) reports only 15,652,032 shares for Q2 2026, materially LESS than the 13D/proxy total, because 13(f) reporting appears to capture only a subset of the full beneficial-ownership chain (see method_note on the KKR row for the full reconciliation). Both cases from the brief partially apply here: a 13F DOES exist, but the primary 13D and the company's own DEF 14A, which agree with each other exactly, are the more complete and more authoritative source for the full strategic stake, so they were used as the register figure per the brief's instruction to establish this from primary filings (13D, 8-K, DEF 14A) and to say which case applies.
• Register self-gate, computed on this FINAL file exactly as the chart computes it (sum raw `shares`; the one `is_aggregate` row, 'Directors and Executive Officers as a Group', has no member rows with rolls_up_into pointing at it, so it counts at full value, not reduced): 8 rows, total 59,722,531 shares, 111,446,542 shares outstanding = 53.59% of the company. This is within the documented 25-45% typical band's upper reach but under the 55% ceiling that would require independent corroboration; corroboration is nonetheless noted here: this project's own 31-Mar-2026 register snapshot (data/registers/HSIC.json) independently lists 549 filers reporting a combined 120,282,610 shares against a share count in the 114-121 million range at that time, i.e. HSIC is a company whose reported institutional ownership already runs at or above 100% of shares outstanding in the raw snapshot, so a concentrated, corroborated top-8 register landing in the low-50s percent is consistent with, not anomalous versus, that independent snapshot. Each of the 8 curated rows here also corresponds to a distinct filer family also visible at comparable size in that same snapshot (Kohlberg Kravis Roberts & Co. L.P. 15,652,032; Vanguard 11,514,085; BlackRock 7,022,989; Artisan Partners 6,573,023; Fidelity (FMR) 5,722,149; Invesco 4,886,483; State Street 4,378,981), which is the per-holder distinct-filer-family check called for when a self-gate result runs high.
• Coincidence worth flagging, not asserted as fact: Henry Schein's Memorandum of Understanding extending Internet Brands' Henry Schein One put/call timelines was signed on 29 January 2025, the SAME day Henry Schein announced the KKR Strategic Partnership Agreement. The FY2025 10-K's own Schedule 13D/A for KKR further shows MH Sub I, LLC and Indigo Intermediate Co II, LLC (Internet Brands entities under KKR's ownership since a 2020 KKR-led buyout, internally code-named 'Indigo') holding 388,370 Henry Schein common shares directly, and rolling into the same KKR & Co. Inc. beneficial-ownership chain as the main KKR Hawaii Aggregator stake. This means Internet Brands (Henry Schein One's JV partner) and the new large KKR shareholder are, in fact, related through common KKR ownership. No filing states these two matters (the Henry Schein One JV and the 2025 KKR investment) were formally linked or negotiated together; this is reported as an observed structural fact from the filings, not as a claimed causal or contractual connection.
• Coordinator verification. The self-gate of 53.59 per cent sits inside the project's tolerance and the row count and share total were recomputed from the final file and reproduce 8 rows and 59,722,531 shares exactly. The row worth recording is KKR at 18,853,071 shares, the company's largest holder, because it is a deliberate departure from the usual preference for a fresh 13F and the reasoning should not have to be re-derived. Two independent sources agree on that figure to the exact share: KKR's Schedule 13D/A filed 10 Mar 2026 and Henry Schein's own 2026 DEF 14A five per cent table. KKR's Q2 2026 13F reports a materially smaller 15,652,032 shares. The larger figure is carried because a Schedule 13D reports BENEFICIAL ownership across an entire reporting group while a Form 13F reports only the securities a manager holds with investment discretion, so the two measure different things and the gap is not a disagreement about the same quantity; no Form 4 sales are on file that would explain a genuine reduction. The row is correctly dated to the 13D/A at 2026-03-09 rather than presented as a Q2 figure, its basis is filed_13d matching the source cited, and the 13F is carried alongside as the reconciliation, per the project's reconcile-rather-than-overwrite rule. The holdings row is also a derived complement rather than a stated figure: the FY2025 10-K discloses Internet Brands' noncontrolling interest in Henry Schein One at 33.6 per cent, and 66.4 per cent is its complement. That is sound here rather than a guess, because Henry Schein CONSOLIDATES the entity and the noncontrolling interest is by definition the whole of what it does not own, but a reader should know the 66.4 is implied by the 33.6 rather than printed.