Distribution Solutions Group, Inc. (DSGR)

Nasdaq · Common Stock · Wholesale-Machinery, Equipment & Supplies

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

44 entities across 18 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-05 — see the exhibit.

Which other public companies file entities in the same places:

Delaware7 Canada7 Mexico5 United Kingdom5 Illinois3 China2 Denmark2 Hungary2 Germany2 Texas1 New Jersey1 Indonesia1

Subsidiaries of Distribution Solutions Group, Inc. as disclosed in its SEC filing
Entity	Jurisdiction	Note
HW Opus Holdings, Inc. (conducting business as Gexpro Services)	Delaware
Gexpro Services Supply Chain Management (Shanghai) Co. Ltd.	China
GS Holdings Canada Inc.	Canada
GS Holdings Denmark ApS	Denmark
GS Holdings RE LLC	Delaware
GS Operating, LLC	Delaware
GS Operating Holding Hungary Kft. - Dissolved as of 5/22/2024	Hungary
GS Operating Magyarország Általános Kereskedelmi és Szolgáltató Kft	Hungary
GX Pro Opus, S. de R.L. de C.V.	Mexico
Heads and Threads, Inc.	Illinois
HIS Company, Inc.	Texas
Hisco International, Inc.	Delaware
HiscoMex, S.A. de C.V.	Mexico
Convertidora HiscoMex, S.A., de C.V.	Mexico
Interworld Highway, LLC	New Jersey
Lawson Products, Inc.	Illinois
Lawson Products Canada Inc.	Canada
Lawson Products de Mexico, S.A. de C.V.	Mexico
MCS Rentals Holdings Limited	United Kingdom
MCS Test Group Limited	United Kingdom
MCS Test Holding Limited	United Kingdom
MCS Test Equipment Limited	United Kingdom
MCS Rentals Limited	United Kingdom
National Engineered Fasteners Inc.	Canada
PT Gexpro Services Indonesia	Indonesia
Resolux ApS	Denmark
Resolux do Brazil Industria e Comercio Especializado em Energia Eolica Ltd.	Brazil
Resolux GmbH	Germany
Resolux Inc.	Iowa
Resolux India Private Limited	India
Resolux Turkey Ruzgar Turbinleri Elektrik Aksamlari Sanayi ve Ticaret Anonim Sirketi	Turkey
Resolux Windpower Technology (Tianjin) Co. Ltd.	China
S&S Automotive	Illinois
Soucie Salo Limited	Canada
Source Atlantic Limited	Canada
Tech Component Resources Pte. Ltd.	Singapore
Tech-Component Resources Sdn. Bhd.	Malaysia
TestEquity Acquisition LLC	Delaware
TestEquity Acquisition Holdings, LLC	Delaware
TestEquity de Mexico S. de R.L. de C.V.	Mexico
TestEquity GmbH	Germany
TestEquity Inc.	Canada
TestEquity LLC	Delaware
The Bolt Supply House Ltd.	Canada

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 9

PASSReturn on assets positiveROA 0.5%
PASSOperating cash flow positiveOCF 84M
PASSReturn on assets improving-0.4% → 0.5%
PASSCash flow exceeds earningsOCF 84M vs NI 8M
PASSLong-term debt ratio falling40.2% → 38.0% of assets
FAILCurrent ratio improving2.67 → 2.56
FAILNo share dilution47M → 47M shares
FAILGross margin improving34.0% → 33.4%
PASSAsset turnover improving1.04× → 1.13×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$351.6M	$15.1M	$30.8M	53.1%	9,331,000
FY2021	$520.3M	$9.4M	−$2.7M	42.1%	9,350,000
FY2022	$1.2B	$7.4M	−$19.3M	33.9%	17,543,296
FY2023	$1.6B	−$9.0M	$86.9M	35.1%	44,868,862
FY2024	$1.8B	−$7.3M	$42.8M	34.0%	46,811,354
FY2025	$2.0B	$8.3M	$62.8M	33.4%	47,166,469

Ownership flow

1 institutions tracked — 0 added, 1 reduced.

Institutional holders of Distribution Solutions Group, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	247,385	−3,727	$6.8M

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Identity

CIK: 0000703604
LEI: 549300I1AHR8KMMFIS52
FIGI: BBG000BN2HQ8
SIC: 5080 · Wholesale-Machinery, Equipment & Supplies
Incorporated: DE
Headquarters: FORT WORTH, TX

Ownership

Institutional: 93.2%
Institutions: 169
Insiders: 1.2%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other wholesale-machinery, equipment & supplies companies

Distribution Solutions Group, Inc. files under SIC 5080 — all 4 wholesale-machinery, equipment & supplies companies compared on assets and F-score.

WILLIS LEASE FINANCE CORPWLFC APPLIED INDUSTRIAL TECHNOLOGIES INCAIT AerSale CorpASLE

Questions about Distribution Solutions Group, Inc.

How many subsidiaries does Distribution Solutions Group, Inc. file with the SEC?: 44, listed in its most recent exhibit 21. They are incorporated across 18 jurisdictions, led by Delaware, China, Canada. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is Distribution Solutions Group, Inc. financially healthy?: Distribution Solutions Group, Inc. scores 6 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of Distribution Solutions Group, Inc.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

44 entities across 18 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-05 — see the exhibit.

Entity

Jurisdiction

Note

HW Opus Holdings, Inc. (conducting business as Gexpro Services)

Delaware

Gexpro Services Supply Chain Management (Shanghai) Co. Ltd.

China

GS Holdings Canada Inc.

Canada

GS Holdings Denmark ApS

Denmark

GS Holdings RE LLC

Delaware

GS Operating, LLC

Delaware

GS Operating Holding Hungary Kft. - Dissolved as of 5/22/2024

Hungary

GS Operating Magyarország Általános Kereskedelmi és Szolgáltató Kft

Hungary

GX Pro Opus, S. de R.L. de C.V.

Mexico

Heads and Threads, Inc.

Illinois

HIS Company, Inc.

Texas

Hisco International, Inc.

Delaware

HiscoMex, S.A. de C.V.

Mexico

Convertidora HiscoMex, S.A., de C.V.

Mexico

Interworld Highway, LLC

New Jersey

Lawson Products, Inc.

Illinois

Lawson Products Canada Inc.

Canada

Lawson Products de Mexico, S.A. de C.V.

Mexico

MCS Rentals Holdings Limited

United Kingdom

MCS Test Group Limited

United Kingdom

MCS Test Holding Limited

United Kingdom

MCS Test Equipment Limited

United Kingdom

MCS Rentals Limited

United Kingdom

National Engineered Fasteners Inc.

Canada

PT Gexpro Services Indonesia

Indonesia

Resolux ApS

Denmark

Resolux do Brazil Industria e Comercio Especializado em Energia Eolica Ltd.

Brazil

Resolux GmbH

Germany

Resolux Inc.

Iowa

Resolux India Private Limited

India

Resolux Turkey Ruzgar Turbinleri Elektrik Aksamlari Sanayi ve Ticaret Anonim Sirketi

Turkey

Resolux Windpower Technology (Tianjin) Co. Ltd.

China

S&S Automotive

Illinois

Soucie Salo Limited

Canada

Source Atlantic Limited

Canada

Tech Component Resources Pte. Ltd.

Singapore

Tech-Component Resources Sdn. Bhd.

Malaysia

TestEquity Acquisition LLC

Delaware

TestEquity Acquisition Holdings, LLC

Delaware

TestEquity de Mexico S. de R.L. de C.V.

Mexico

TestEquity GmbH

Germany

TestEquity Inc.

Canada

TestEquity LLC

Delaware

The Bolt Supply House Ltd.

Canada

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 9

PASSReturn on assets positiveROA 0.5%
PASSOperating cash flow positiveOCF 84M
PASSReturn on assets improving-0.4% → 0.5%
PASSCash flow exceeds earningsOCF 84M vs NI 8M
PASSLong-term debt ratio falling40.2% → 38.0% of assets
FAILCurrent ratio improving2.67 → 2.56
FAILNo share dilution47M → 47M shares
FAILGross margin improving34.0% → 33.4%
PASSAsset turnover improving1.04× → 1.13×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2020

$351.6M

$15.1M

$30.8M

53.1%

9,331,000

FY2021

$520.3M

$9.4M

−$2.7M

42.1%

9,350,000

FY2022

$1.2B

$7.4M

−$19.3M

33.9%

17,543,296

FY2023

$1.6B

−$9.0M

$86.9M

35.1%

44,868,862

FY2024

$1.8B

−$7.3M

$42.8M

34.0%

46,811,354

FY2025

$2.0B

$8.3M

$62.8M

33.4%

47,166,469

Ownership flow

1 institutions tracked — 0 added, 1 reduced.

Institutional holders of Distribution Solutions Group, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	247,385	−3,727	$6.8M

Questions about Distribution Solutions Group, Inc.

How many subsidiaries does Distribution Solutions Group, Inc. file with the SEC?

44, listed in its most recent exhibit 21. They are incorporated across 18 jurisdictions, led by Delaware, China, Canada. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is Distribution Solutions Group, Inc. financially healthy?

Distribution Solutions Group, Inc. scores 6 out of 9 on the Piotroski F-score. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of Distribution Solutions Group, Inc.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.