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of Contents](#i569de63b8944464ca95bf3044154e78f_7)\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nFORM 10-K\n\nx\n\nANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the fiscal year ended April 30, 2026\n\nOR\n\no\n\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nCommission file number 001-43081\n\nSunbelt Rentals Holdings, Inc.\n\n(Exact name of registrant as specified in its charter)\n\nDelaware\n\n33-3657151\n\n(State or other jurisdiction of incorporation or organization)\n\n(I.R.S. Employer Identification No.)\n\n1799 Innovation Pt\n\nFort Mill, SC\n\n29715\n\n(Address of Principal Executive Offices)\n\n(Zip Code)\n\n(803) 578-5800\n(Registrant’s telephone number, including area code)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each class\n\nTrading Symbol(s)\n\nName of each exchange on which registered\n\nCommon Stock, par value $0.01 per share\n\nSUNB\n\nNew York Stock Exchange\n\nSecurities registered pursuant to section 12(g) of the Act: None\n\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No x\n\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No x\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer\n\n o\n\nAccelerated filer\n\n  o\n\nNon-accelerated filer\n\n x\n\nSmaller reporting company\n\n  o\n\nEmerging growth company\n\n  o\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\n\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. o\n\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. o\n\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). o\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes o No x\n\nAs of October 31, 2025, the last business day of the registrant’s most recently completed second fiscal quarter, there was no established public market for the registrant’s common stock. The registrant’s common stock began trading on the New York Stock Exchange and the London Stock Exchange on March 2, 2026.\n\nThe registrant had outstanding 409,760,584 shares of common stock as of June 18, 2026.\n\nDOCUMENTS INCORPORATED BY REFERENCE\n\nCertain information required by Part III of this Annual Report on Form 10-K is incorporated by reference from the registrant’s definitive proxy statement for the 2026 Annual Meeting of Stockholders, to be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year covered by this report.\n\n[Table of Contents](#i569de63b8944464ca95bf3044154e78f_7)\n\nTABLE OF CONTENTS\n\nPage\n\n[Special Note Regarding Forward-Looking Statements](#i569de63b8944464ca95bf3044154e78f_10)\ni\n\n[PART I](#i569de63b8944464ca95bf3044154e78f_13)\n\n[1](#i569de63b8944464ca95bf3044154e78f_13)\n\n[Item 1.](#i569de63b8944464ca95bf3044154e78f_16)\n\n[Business.](#i569de63b8944464ca95bf3044154e78f_16)\n\n[1](#i569de63b8944464ca95bf3044154e78f_16)\n\n[Item 1A.](#i569de63b8944464ca95bf3044154e78f_70)\n\n[Risk Factors.](#i569de63b8944464ca95bf3044154e78f_70)\n\n[16](#i569de63b8944464ca95bf3044154e78f_70)\n\n[Item 1B.](#i569de63b8944464ca95bf3044154e78f_82)\n\n[Unresolved Staff Comments.](#i569de63b8944464ca95bf3044154e78f_82)\n\n[37](#i569de63b8944464ca95bf3044154e78f_82)\n\n[Item 1C](#i569de63b8944464ca95bf3044154e78f_85).\n\n[Cybersecurity](#i569de63b8944464ca95bf3044154e78f_85).\n\n[37](#i569de63b8944464ca95bf3044154e78f_85)\n\n[Item 2.](#i569de63b8944464ca95bf3044154e78f_88)\n\n[Properties.](#i569de63b8944464ca95bf3044154e78f_88)\n\n[39](#i569de63b8944464ca95bf3044154e78f_88)\n\n[Item 3.](#i569de63b8944464ca95bf3044154e78f_91)\n\n[Legal Proceedings.](#i569de63b8944464ca95bf3044154e78f_91)\n\n[39](#i569de63b8944464ca95bf3044154e78f_91)\n\n[Item 4.](#i569de63b8944464ca95bf3044154e78f_94)\n\n[Mine Safety Disclosures.](#i569de63b8944464ca95bf3044154e78f_94)\n\n[39](#i569de63b8944464ca95bf3044154e78f_94)\n\n[PART II](#i569de63b8944464ca95bf3044154e78f_97)\n\n[39](#i569de63b8944464ca95bf3044154e78f_97)\n\n[Item 5.](#i569de63b8944464ca95bf3044154e78f_100)\n\n[Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.](#i569de63b8944464ca95bf3044154e78f_100)\n\n[39](#i569de63b8944464ca95bf3044154e78f_100)\n\n[Item 6.](#i569de63b8944464ca95bf3044154e78f_103)\n\n[[Reserved](#i569de63b8944464ca95bf3044154e78f_103)]\n\n[40](#i569de63b8944464ca95bf3044154e78f_103)\n\n[Item 7.](#i569de63b8944464ca95bf3044154e78f_106)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i569de63b8944464ca95bf3044154e78f_106)[.](#i569de63b8944464ca95bf3044154e78f_106)\n\n[40](#i569de63b8944464ca95bf3044154e78f_106)\n\n[Item 7A.](#i569de63b8944464ca95bf3044154e78f_139)\n\n[Quantitative and Qualitative Disclosures about Market Risk.](#i569de63b8944464ca95bf3044154e78f_139)\n\n[57](#i569de63b8944464ca95bf3044154e78f_139)\n\n[Item 8.](#i569de63b8944464ca95bf3044154e78f_142)\n\n[Financial Statements and Supplementary Data.](#i569de63b8944464ca95bf3044154e78f_142)\n\n[58](#i569de63b8944464ca95bf3044154e78f_142)\n\n[Item 9.](#i569de63b8944464ca95bf3044154e78f_241)\n\n[Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.](#i569de63b8944464ca95bf3044154e78f_241)\n\n[104](#i569de63b8944464ca95bf3044154e78f_241)\n\n[Item 9A.](#i569de63b8944464ca95bf3044154e78f_244)\n\n[Controls and Procedures.](#i569de63b8944464ca95bf3044154e78f_244)\n\n[104](#i569de63b8944464ca95bf3044154e78f_244)\n\n[Item 9B.](#i569de63b8944464ca95bf3044154e78f_247)\n\n[Other Information.](#i569de63b8944464ca95bf3044154e78f_247)\n\n[104](#i569de63b8944464ca95bf3044154e78f_247)\n\n[Item 9C.](#i569de63b8944464ca95bf3044154e78f_250)\n\n[Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.](#i569de63b8944464ca95bf3044154e78f_250)\n\n[105](#i569de63b8944464ca95bf3044154e78f_250)\n\n[PART III](#i569de63b8944464ca95bf3044154e78f_253)\n\n[106](#i569de63b8944464ca95bf3044154e78f_253)\n\n[Item 10.](#i569de63b8944464ca95bf3044154e78f_256)\n\n[Directors, Executive Officers and Corporate Governance.](#i569de63b8944464ca95bf3044154e78f_256)\n\n[106](#i569de63b8944464ca95bf3044154e78f_256)"}