Brian Sheth group discloses 22% Blend Labs (BLND) stake in 13D/A

Rhea-AI Filing Summary

Haveli-affiliated funds and Brian N. Sheth have amended their Schedule 13D on Blend Labs, Inc., disclosing beneficial ownership of about 64.2 million shares of Class A common stock, representing roughly 22.5–22.6% of the class. This stake includes 46,153,845 shares issuable upon conversion of 150,000 shares of Series A Convertible Preferred Stock and 18,043,657 already outstanding Class A shares. The ownership and voting/dispositive power are reported as shared among several Haveli entities and Sheth, highlighting a significant, largely preferred-linked position in Blend Labs.

Key Figures

Beneficial ownership (Haveli entities): 64,197,502 Class A shares Beneficial ownership (Brian N. Sheth): 64,327,502 Class A shares Convertible preferred position: 150,000 Series A Preferred shares +5 more

8 metrics

Beneficial ownership (Haveli entities) 64,197,502 Class A shares Aggregate amount beneficially owned; 22.5% of class

Beneficial ownership (Brian N. Sheth) 64,327,502 Class A shares Aggregate amount beneficially owned; 22.6% of class

Convertible preferred position 150,000 Series A Preferred shares Convertible into 46,153,845 Class A shares

Class A from conversion 46,153,845 Class A shares Issuable upon conversion of Series A Preferred Stock

Existing Class A held 18,043,657 Class A shares Already outstanding Class A common stock held

Shares outstanding baseline 238,860,271 Class A shares Shares outstanding as of May 1, 2026, per Q1 2026 Form 10-Q

Ownership percentage (Haveli entities) 22.5% Percent of class represented by 64,197,502 shares

Ownership percentage (Brian N. Sheth) 22.6% Percent of class represented by 64,327,502 shares

Key Terms

beneficially owned, Series A Convertible Preferred Stock, Schedule 13D, shared voting power, +2 more

6 terms

beneficially owned financial

"Aggregate amount beneficially owned by each reporting person 64,197,502.00"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Series A Convertible Preferred Stock financial

"issuable upon conversion of 150,000 shares of Series A Convertible Preferred Stock"

Series A convertible preferred stock is a class of shares sold in an early funding round that gives investors a mix of protection and upside: it pays a priority claim over common shares if the company is sold or closes, but can be converted into ordinary shares to share in future growth. Think of it like a hybrid between a safer stake and a ticket to ownership; it matters to investors because it affects who controls the company, how future gains are split, and how much their investment is protected from downside.

Schedule 13D regulatory

"The statement on filed on May 6, 2024 (the "Original "), as amended by Amendment No. 1"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

shared voting power financial

"Shared Voting Power 64,197,502.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 64,197,502.00"

aggregate amount beneficially owned financial

"11Aggregate amount beneficially owned by each reporting person 64,197,502.00"

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

Blend Labs, Inc.

(Name of Issuer)

Class A common stock, par value $0.00001 per share

(Title of Class of Securities)

09352U108

(CUSIP Number)

Della P. Richardson
405 Colorado Street, Suite 1600
Austin, TX, 78701
512-987-7314

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/10/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 09352U108

1

Name of reporting person

Haveli Brooks Aggregator, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power
8	Shared Voting Power 64,197,502.00
9	Sole Dispositive Power
10	Shared Dispositive Power 64,197,502.00

11

Aggregate amount beneficially owned by each reporting person

64,197,502.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

22.5 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

The securities reported in rows 8, 10 and 11 are comprised of (i) 46,153,845 shares of Class A Common Stock, par value $0.00001 per share (the "Class A Common Stock") of Blend Labs, Inc. (the "Issuer") issuable upon conversion of 150,000 shares of Series A Convertible Preferred Stock, par value $0.00001 per share, (the "Series A Preferred Stock") of the Issuer, and (ii) 18,043,657 shares of Class A Common Stock. The number of shares of Class A Common Stock outstanding for purposes of the percentage calculation in row 13 assumes (i) 238,860,271 shares outstanding as of May 1, 2026, as reported by the Issuer in its quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026 (the "Q1 2026 Form 10-Q") and (ii) 46,153,845 shares of Class A Common Stock issuable upon conversion of the Series A Preferred Stock.

SCHEDULE 13D

CUSIP Number(s): 09352U108

1

Name of reporting person

Haveli Investments Software Fund I GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power
8	Shared Voting Power 64,197,502.00
9	Sole Dispositive Power
10	Shared Dispositive Power 64,197,502.00

11

Aggregate amount beneficially owned by each reporting person

64,197,502.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

22.5 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The securities reported in rows 8, 10 and 11 are comprised of (i) 46,153,845 shares of Class A Common Stock issuable upon conversion of 150,000 shares of Series A Preferred Stock, and (ii) 18,043,657 shares of Class A Common Stock. The number of shares of Class A Common Stock outstanding for purposes of the percentage calculation in row 13 assumes (i) 238,860,271 shares outstanding as of May 1, 2026, as reported by the Issuer in the Q1 2026 Form 10-Q and (ii) 46,153,845 shares of Class A Common Stock issuable upon conversion of the Series A Preferred Stock.

SCHEDULE 13D

CUSIP Number(s): 09352U108

1

Name of reporting person

Haveli Software Management LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power
8	Shared Voting Power 64,197,502.00
9	Sole Dispositive Power
10	Shared Dispositive Power 64,197,502.00

11

Aggregate amount beneficially owned by each reporting person

64,197,502.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

22.5 %

14

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person:

The securities reported in rows 8, 10 and 11 are comprised of (i) 46,153,845 shares of Class A Common Stock issuable upon conversion of 150,000 shares of Series A Preferred Stock, and (ii) 18,043,657 shares of Class A Common Stock. The number of shares of Class A Common Stock outstanding for purposes of the percentage calculation in row 13 assumes (i) 238,860,271 shares outstanding as of May 1, 2026, as reported by the Issuer in the Q1 2026 Form 10-Q and (ii) 46,153,845 shares of Class A Common Stock issuable upon conversion of the Series A Preferred Stock.

SCHEDULE 13D

CUSIP Number(s): 09352U108

1

Name of reporting person

Whanau Interests LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power
8	Shared Voting Power 64,197,502.00
9	Sole Dispositive Power
10	Shared Dispositive Power 64,197,502.00

11

Aggregate amount beneficially owned by each reporting person

64,197,502.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

22.5 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The securities reported in rows 8, 10 and 11 are comprised of (i) 46,153,845 shares of Class A Common Stock issuable upon conversion of 150,000 shares of Series A Preferred Stock, and (ii) 18,043,657 shares of Class A Common Stock. The number of shares of Class A Common Stock outstanding for purposes of the percentage calculation in row 13 assumes (i) 238,860,271 shares outstanding as of May 1, 2026, as reported by the Issuer in the Q1 2026 Form 10-Q and (ii) 46,153,845 shares of Class A Common Stock issuable upon conversion of the Series A Preferred Stock.

SCHEDULE 13D

CUSIP Number(s): 09352U108

1

Name of reporting person

Haveli Investment Management LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power
8	Shared Voting Power 64,197,502.00
9	Sole Dispositive Power
10	Shared Dispositive Power 64,197,502.00

11

Aggregate amount beneficially owned by each reporting person

64,197,502.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

22.5 %

14

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person:

The securities reported in rows 8, 10 and 11 are comprised of (i) 46,153,845 shares of Class A Common Stock issuable upon conversion of 150,000 shares of Series A Preferred Stock, and (ii) 18,043,657 shares of Class A Common Stock. The number of shares of Class A Common Stock outstanding for purposes of the percentage calculation in row 13 assumes (i) 238,860,271 shares outstanding as of May 1, 2026, as reported by the Issuer in the Q1 2026 Form 10-Q and (ii) 46,153,845 shares of Class A Common Stock issuable upon conversion of the Series A Preferred Stock.

SCHEDULE 13D

CUSIP Number(s): 09352U108

1

Name of reporting person

Haveli Investments, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power
8	Shared Voting Power 64,197,502.00
9	Sole Dispositive Power
10	Shared Dispositive Power 64,197,502.00

11

Aggregate amount beneficially owned by each reporting person

64,197,502.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

22.5 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

The securities reported in rows 8, 10 and 11 are comprised of (i) 46,153,845 shares of Class A Common Stock issuable upon conversion of 150,000 shares of Series A Preferred Stock, and (ii) 18,043,657 shares of Class A Common Stock. The number of shares of Class A Common Stock outstanding for purposes of the percentage calculation in row 13 assumes (i) 238,860,271 shares outstanding as of May 1, 2026, as reported by the Issuer in the Q1 2026 Form 10-Q and (ii) 46,153,845 shares of Class A Common Stock issuable upon conversion of the Series A Preferred Stock.

SCHEDULE 13D

CUSIP Number(s): 09352U108

1

Name of reporting person

Brian N. Sheth

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power
8	Shared Voting Power 64,327,502.00
9	Sole Dispositive Power
10	Shared Dispositive Power 64,327,502.00

11

Aggregate amount beneficially owned by each reporting person

64,327,502.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

22.6 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

The securities reported in rows 8, 10 and 11 are comprised of (i) 46,153,845 shares of Class A Common Stock issuable upon conversion of 150,000 shares of Series A Preferred Stock, and (ii) 18,043,657 shares of Class A Common Stock, including 130,000 shares of Class A Common Stock held in a family trust for which Mr. Sheth's spouse is the trustee. The number of shares of Class A Common Stock outstanding for purposes of the percentage calculation in row 13 assumes (i) 238,860,271 shares outstanding as of May 1, 2026, as reported by the Issuer in the Q1 2026 Form 10-Q and (ii) 46,153,845 shares of Class A Common Stock issuable upon conversion of the Series A Preferred Stock.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A common stock, par value $0.00001 per share
(b)	Name of Issuer: Blend Labs, Inc.
(c)	Address of Issuer's Principal Executive Offices: 7250 Redwood Blvd., Suite 300, Novato, CALIFORNIA , 94945.
Item 1 Comment: The statement on Schedule 13D filed on May 6, 2024 (the "Original Schedule 13D"), as amended by Amendment No. 1 to Schedule 13D filed on August 18, 2025 ("Amendment No. 1"), Amendment No. 2 to Schedule 13D filed on November 17, 2025 ("Amendment No. 2") and Amendment No. 3 to Schedule 13D filed on May 15, 2026 ("Amendment No. 3"), is hereby amended as set forth below by this Amendment No. 4 ("Amendment No. 4" and, together with the Original Schedule 13D, Amendment No. 1, Amendment No. 2 and Amendment No. 3, the "Schedule 13D"). Except as specifically provided herein, this Amendment No. 4 does not modify any of the information previously reported in the Original Schedule 13D. Capitalized terms used herein and not otherwise defined herein shall have the respective meanings assigned to such terms in the Original Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	The information contained in rows 11 and 13 on each of the cover pages of this Amendment No. 4 and the information set forth or incorporated in Items 2, 3, 4 and 6 of the Schedule 13D is incorporated by reference in its entirety into this Item 5.
(b)	The information contained in rows 7, 8, 9 and 10 on each of the cover pages of this Amendment No. 4 and the information set forth or incorporated in Items 2, 3, 4 and 6 of the Schedule 13D is incorporated by reference in its entirety into this Item 5.
(c)	Except as described in this Schedule 13D (including the exhibits hereto), none of the Reporting Persons nor, to the best knowledge of the Reporting Persons, without independent verification, any person named in Item 2 hereof, has effected any transaction in the shares of Class A Common Stock during the past 60 days.
Item 7.	Material to be Filed as Exhibits.
	This Amendment No. 4 amends and supplements the Schedule 13D by adding the following: Exhibit 7. Reporting Person Transactions of Class A Common Stock During the Past 60 Days

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Haveli Brooks Aggregator, L.P.

Signature:	By: Haveli Investments Software Fund I GP, LLC, its General Partner By: Whanau Interests LLC, its Sole Member, /s/ Brian N. Sheth
Name/Title:	Brian N. Sheth / Managing Member
Date:	06/12/2026

Haveli Investments Software Fund I GP, LLC

Signature:	By: Whanau Interests LLC, its Sole Member, /s/ Brian N. Sheth
Name/Title:	Brian N. Sheth / Managing Member
Date:	06/12/2026

Haveli Software Management LLC

Signature:	By: Haveli Investment Management LLC, its sole member, /s/ Brian N. Sheth
Name/Title:	Brian N. Sheth / Chief Executive Officer and Chief Investment Officer
Date:	06/12/2026

Whanau Interests LLC

Signature:	/s/ Brian N. Sheth
Name/Title:	Brian N. Sheth / Managing Member
Date:	06/12/2026

Haveli Investment Management LLC

Signature:	/s/ Brian N. Sheth
Name/Title:	Brian N. Sheth / Chief Executive Officer and Chief Investment Officer
Date:	06/12/2026

Haveli Investments, L.P.

Signature:	By: Whanau Interests LLC, its General Partner, /s/ Brian N. Sheth
Name/Title:	Brian N. Sheth / Managing Member
Date:	06/12/2026

Brian N. Sheth

Signature:	/s/ Brian N. Sheth
Name/Title:	Brian N. Sheth
Date:	06/12/2026

FAQ

What ownership stake in Blend Labs (BLND) does the Haveli group report?

The Haveli group and Brian N. Sheth report beneficial ownership of about 64.2 million Blend Labs Class A shares, representing roughly 22.5–22.6% of the outstanding Class A common stock, including shares issuable upon preferred stock conversion.

How many Blend Labs shares are tied to Series A Preferred Stock in this 13D/A?

The filing states that 150,000 shares of Series A Convertible Preferred Stock are convertible into 46,153,845 shares of Blend Labs Class A common stock, forming the majority of the group’s reported beneficial ownership position.

How many Blend Labs Class A shares does the Haveli group already hold?

In addition to conversion shares, the group reports holding 18,043,657 Blend Labs Class A shares. Combined with the convertible preferred position, this results in total beneficial ownership of about 64.2 million Class A shares as disclosed.

What share count did the Blend Labs 13D/A use to calculate ownership percentage?

The reported percentage is based on 238,860,271 Class A shares outstanding as of May 1, 2026, plus 46,153,845 shares issuable upon conversion of the Series A Preferred Stock, as described in the company’s Q1 2026 Form 10-Q.

How much Blend Labs stock does Brian N. Sheth personally report beneficially owning?

Brian N. Sheth reports beneficial ownership of 64,327,502 Blend Labs Class A shares, or about 22.6% of the class, including 130,000 Class A shares held in a family trust for which his spouse serves as trustee.