Monitor for any subsequent conversion to a Schedule 13D, which would signal activist intent. The 5.6% stake is a notable passive vote of confidence from a UK-based fund, but the filing itself is routine and non-directional.
Price Chart
Executive Summary
Capricorn Fund Managers Ltd disclosed a 5.6% passive stake in Blend Labs as of September 30, 2026, via a new Schedule 13G filing. This is a new position for the London-based investment adviser, indicating a meaningful but non-activist bet on the company's recovery.
Key Financial Metrics
Key Facts
- Capricorn Fund Managers Ltd reported beneficial ownership of 13,280,549 Class A ordinary shares of Blend Labs, Inc.
- The stake represents 5.6% of the outstanding shares.
- The filing is a new Schedule 13G (not an amendment), indicating a newly crossed 5% threshold.
- The filer certifies passive intent under Rule 13d-1(b), with no control or influence purpose.
- The filing date is October 16, 2026, with a reporting date of September 30, 2026.
Financial Impact
13,280,549 shares representing 5.6% of outstanding shares; no dollar value disclosed.
Risk Factors
- Capricorn could increase or decrease the stake without immediate disclosure until crossing the next threshold.
- The passive certification could be withdrawn if the fund later engages with management.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13G Filing (Primary) | 0001901361-26-000015 |
| Document: 0001901361-26-000015-index.html | 0001901361-26-000015 |
| Document: 0001901361-26-000015.txt | 0001901361-26-000015 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 144 | $1.16 | awaiting T+60 | — | $1.16 (−0.00%) |
Oct 16, 2026 11d ago | SC 13G | $0.9001 | awaiting T+60 | — | $1.16 (+28.87%) |
Oct 13, 2026 14d ago | 144 | $0.9545 | awaiting T+60 | — | $1.16 (+21.53%) |
Sep 16, 2026 5w ago | Insider Cluster | $1.30 | awaiting T+60 | — | $1.16 (−10.77%) |
Jun 12, 2026 19w ago | Institutional Cluster | $1.69 $1.49 | ▼ −11.83% | ▼ −15.10% | $1.16 (−31.36%) |
May 27, 2026 21w ago | Insider Cluster | $1.72 $1.52 | ▼ −11.63% | ▼ −13.36% | $1.16 (−32.56%) |
Feb 28, 2026 34w ago | Institutional Cluster | $1.70 $1.47 | ▼ −13.53% | ▼ −22.86% | $1.16 (−31.76%) |
US Market Status
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