Bjorgolfsson group boosts Better Home & Finance (BETR) stake to 7.30% in 13D/A

Rhea-AI Filing Summary

Better Home & Finance Holding Co’s major shareholder group updated its ownership in this Schedule 13D amendment. Novator Capital Sponsor Ltd. now reports beneficial ownership of 659,446 Class A shares, or 5.02% of the class, including 46,050 shares issuable upon warrant exercise. The Telco Holding Trust holds 298,756 Class A shares, or 2.28%. Thor Bjorgolfsson is deemed to beneficially own 958,202 shares, or 7.30%, through these entities but disclaims beneficial ownership. The filing notes that Telco Holding Trust bought 298,756 Class A shares in open-market transactions between May 7 and May 8, 2026, prompting this ownership update.

Insights

Equity ownership & governance analyst

Filing updates a large holder’s stake after additional open-market purchases.

This amendment to a Schedule 13D shows Telco Holding Trust bought 298,756 Class A shares of Better Home & Finance Holding Co in open-market trades on May 7–8, 2026. As a result, the group’s reported beneficial stakes have increased.

Following these transactions, Novator Capital Sponsor Ltd. reports 659,446 shares (including 46,050 issuable from warrants), and Thor Bjorgolfsson is deemed to beneficially own 958,202 shares, or 7.30%. The warrants carry a $575.00 exercise price and expire on August 22, 2028.

Overall, this is an ownership-disclosure update rather than a change to company operations or finances. It signals that an existing affiliated holder has increased its economic exposure through recent market purchases, while the underlying business information remains unchanged in this document.

Key Figures

Thor Bjorgolfsson beneficial ownership: 958,202 shares (7.30%) Novator Capital Sponsor Ltd. holdings: 659,446 shares (5.02%) Telco Holding Trust purchase: 298,756 shares +4 more

7 metrics

Thor Bjorgolfsson beneficial ownership 958,202 shares (7.30%) Class A Common Stock beneficially owned via related entities

Novator Capital Sponsor Ltd. holdings 659,446 shares (5.02%) Includes 613,396 shares plus 46,050 warrant shares

Telco Holding Trust purchase 298,756 shares Open-market Class A purchases between May 7–8, 2026

Shares outstanding base 13,086,244 shares Class A shares outstanding as of May 1, 2026

Warrant strike price $575.00 per share Exercise price for 46,050 warrant-underlying Class A shares

Warrant expiry August 22, 2028 Expiration date of Better Home & Finance warrants

Telco Holding Trust ownership percentage 2.28% Class A Common Stock held directly by the trust

Key Terms

Schedule 13D, beneficially owned, Class A Common Stock, warrants, +2 more

6 terms

Schedule 13D regulatory

"This Amendment No. 9 ("Amendment No. 9") amends and supplements the original filed ..."

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.

beneficially owned financial

"This Amendment No. 9 is being filed to report the current percentage of the outstanding shares ... beneficially owned by the Reporting Persons"

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.

Class A Common Stock financial

"Title of Class of Securities: Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

warrants financial

"46,050 shares of Class A Common Stock issuable upon the exercise of warrants to purchase Class A Common Stock of the Issuer (the "Warrants")"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

open market purchases financial

"Telco Holding Trust purchased an aggregate of 298,756 shares of Class A Common Stock ... in open market purchases"

Open market purchases are buys of a company’s shares (or other securities) made on public exchanges at prevailing market prices rather than through private deals. For investors this matters because when a company buys back its own stock it reduces the number of shares available, which can boost per-share earnings and often signals management’s confidence; it also affects supply, demand and short-term liquidity much like someone quietly buying up items from a crowded marketplace.

dispositive and voting control financial

"Thor Bjorgolfsson may be deemed to have dispositive and voting control over those securities"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 9)

Better Home & Finance Holding Co

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

08774B102

(CUSIP Number)

Ilan Katz
Dentons US LLP, 1221 Avenue of the Americas,
New York, NY, 10020
(212) 768-6700

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

05/09/2026

(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): 08774B102

1

Name of reporting person

Novator Capital Sponsor Ltd.

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)

WC

5

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

6

Citizenship or place of organization

CYPRUS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 659,446.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 659,446.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

659,446.00

12

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

13

Percent of class represented by amount in Row (11)

5.02 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

(1) The reported shares beneficially owned include (i) 613,396 shares of Class A Common Stock; and (ii) 46,050 shares of Class A Common Stock issuable upon the exercise of warrants to purchase Class A Common Stock of the Issuer (the "Warrants"). As adjusted for the Reverse Stock Split, each whole share of Class A Common Stock underlying the Warrants is exercisable at a price of $575.00 per share, subject to adjustment. The Warrants expire on August 22, 2028. (2) The reported percent of class represented is calculated based upon 13,086,244 shares of Class A Common Stock outstanding as of May 1, 2026, as reported by the Issuer in its Form 10-Q filed with the SEC on May 11, 2026, plus the 46,050 shares of Class A common stock issuable upon the exercise of the Warrants held by the Reporting Person.

SCHEDULE 13D

CUSIP Number(s): 08774B102

1

Name of reporting person

The Telco Holding Trust

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)

WC

5

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

6

Citizenship or place of organization

CYPRUS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 298,756.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 298,756.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

298,756.00

12

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

13

Percent of class represented by amount in Row (11)

2.28 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

(1) The reported shares beneficially owned include 298,756 shares of Class A Common Stock. (2) The reported percent of class represented is calculated based upon 13,086,244 shares of Class A Common Stock outstanding as of May 1, 2026, as reported by the Issuer in its Form 10-Q filed with the SEC on May 11, 2026.

SCHEDULE 13D

CUSIP Number(s): 08774B102

1

Name of reporting person

Thor Bjorgolfsson

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)

WC

5

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

6

Citizenship or place of organization

ICELAND

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 958,202.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 958,202.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

958,202.00

12

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

13

Percent of class represented by amount in Row (11)

7.30 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

(1) The reported shares beneficially owned include (i) 912,152 shares of Class A Common Stock held of record by Novator Capital Sponsor Ltd., a Cyprus limited liability company ("NCSL"); (ii) 46,050 shares of Class A Common Stock issuable upon the exercise of Warrants held of record by NCSL; and (iii) 298,756 shares of Class A Common Stock held of record by the irrevocable discretionary trust known as The Telco Holding Trust (the "The Telco Holding Trust") for which BB Trustees S.A. acts as trustee; the directors of such trust are Peter Mitchell, Arnaud Cywie and Alessandro Passardi. As adjusted for the Reverse Stock Split, each whole share of Class A Common Stock underlying the Warrants is exercisable at a price of $575.00 per share, subject to adjustment. The Warrants expire on August 22, 2028. (2) The securities beneficially owned are held directly by NCSL and The Telco Holding Trust and Thor Bjorgolfsson may be deemed to have dispositive and voting control over those securities. NCSL is indirectly 99.9% owned by the irrevocable discretionary trust known as The Future Holdings Trust for which BB Trust Company SA acts as trustee; the directors of such trust are Alessandro Passardi, Peter Mitchell and Arnaud Cywie. Mr. Bjorgolfsson disclaims beneficial ownership of the shares owned by NCSL and The Telco Holding Trust. (3) The reported percent of class represented is calculated based upon 13,086,244 shares of Class A Common Stock outstanding as of May 1, 2026, as reported by the Issuer in its Form 10-Q filed with the SEC on May 11, 2026, plus the 46,050 shares of Class A common stock issuable upon the exercise of the Warrants held by the Reporting Person.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock
(b)	Name of Issuer: Better Home & Finance Holding Co
(c)	Address of Issuer's Principal Executive Offices: 1 World Trade Center, 285 Fulton Street,, 80th Floor, Suite A,, New York, NEW YORK , 10007.
Item 1 Comment: This Amendment No. 9 ("Amendment No. 9") amends and supplements the original Schedule 13D filed with the SEC on March 18, 2021 (as amended by Amendment No. 1 filed with the SEC on August 28, 2023, Amendment No. 2 filed with the SEC on October 20, 2023, Amendment No. 3 filed with the SEC on October 25, 2024, Amendment No. 4 filed with the SEC on November 21, 2024, Amendment No. 5 filed with the SEC on December 2, 2024, Amendment No. 6 filed with the SEC on December 17, 2024, Amendment No. 7 filed with the SEC on May 20, 2025, and Amendment No. 8 filed with the SEC on March 23, 2026, the "Original Schedule 13D") relating to shares of Class A common stock, par value $0.0001 per share (the "Class A Common Stock"), of the Issuer, Better Home & Finance Holding Company, a Delaware corporation, formerly Aurora Acquisition Corp., a Cayman Islands exempted company. Except as provided herein, all Items of the Original Schedule 13D remain unchanged and this Amendment No. 9 does not modify any information previously reported on the Original Schedule 13D. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Original Schedule 13D. This Amendment No. 9 is being filed to report the current percentage of the outstanding shares of Class A Common Stock (calculated in accordance with Rule 13d-3 under the Exchange Act) and Warrants beneficially owned by the Reporting Persons, and reflects an increase of more than one percent in the percentage of outstanding Class A Common Stock that Thor Bjorgolfsson beneficially owns, or may be deemed to beneficially own, which resulted from purchases of shares of Class A Common Stock by The Telco Holding Trust.
Item 2.	Identity and Background
(a)	This statement is filed by (i) NCSL, (ii) The Telco Holding Trust, and (iii) Thor Bjorgolfsson (collectively, the "Reporting Persons").
(b)	The business address of the Reporting Person is at 2, Rue Jargonnant, CH-1207 Geneva, Switzerland.(c) NCSL is a Cyprus limited liability company, wholly owned by BB Trustees SA, as trustee of the irrevocable discretionary trust known as The Future Holdings Trust for which BB Trustees SA acts as trustee; the directors of such trust are Alessandro Passardi, Peter Mitchell and Arnaud Cywie. The Telco Holding Trust is a Gurnsey entity for which BB Trustees S.A. acts as trustee; the directors of such trust are Peter Mitchell, Arnaud Cywie and Alessandro Passardi. Thor Bjorgolfsson may have dispositive and voting control over those securities held by NCSL and The Telco Holding Trust, as described herein. Mr. Bjorgolfsson disclaims beneficial ownership of the shares owned by each of NCSL and The Telco Holding Trust.
(d)	During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	During the last five years, none of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	NCSL is a Cyprus limited liability company. The Telco Holding Trust is a Guernsey irrevocable discretionary trust. Mr. Bjorgolfsson is a citizen of Iceland.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 of the Original Schedule 13D is hereby amended and supplemented as follows: The information set forth in Item 4 hereof is hereby incorporated by reference into this Item 3, as applicable.
Item 4.	Purpose of Transaction
	Item 4 of the Schedule 13D is hereby amended and supplemented to include the following: Purchaser by Telco Holding Trust: Between May 7, 2026 and May 8, 2026, Telco Holding Trust purchased an aggregate of 298,756 shares of Class A Common Stock of the Issuer in open market purchases, as set forth in Annex A hereto.
Item 5.	Interest in Securities of the Issuer
(a)	The response set forth in Item 5 of the Original Schedule 13D is hereby amended by deleting the previous response in its entirety and replacing it with the following: The information contained in rows 7, 8, 9, 10, 11, and 13 on each of the cover pages of this Schedule 13D is incorporated by reference in its entirety into this Item 5.
(b)	The information contained in rows 7, 8, 9, 10, 11, and 13 on each of the cover pages of this Schedule 13D is incorporated by reference in its entirety into this Item 5.
(c)	Except for the transaction described in Item 4 of this Schedule 13D, the Reporting Persons have not engaged in any transaction during the past 60 days involving ordinary shares of the Issuer.
(d)	None.

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.

Novator Capital Sponsor Ltd.

Signature:	/s/ Pericles Spyrou
Name/Title:	Pericles Spyrou, Director
Date:	05/19/2026

The Telco Holding Trust

Signature:	/s/ Peter Mitchell
Name/Title:	Peter Mitchell
Date:	05/19/2026

Signature:	/s/ Arnaud Cywie
Name/Title:	Arnaud Cywie
Date:	05/19/2026

Thor Bjorgolfsson

Signature:	/s/ Thor Bjorgolfsson
Name/Title:	Thor Bjorgolfsson
Date:	05/19/2026

FAQ

What ownership levels are reported in Better Home & Finance (BETR) Schedule 13D/A Amendment No. 9?

The amendment reports Thor Bjorgolfsson beneficially owning 958,202 Class A shares, or 7.30%. Novator Capital Sponsor Ltd. reports 659,446 shares (5.02%), and The Telco Holding Trust reports 298,756 shares (2.28%), based on 13,086,244 shares outstanding plus warrant shares.

What new transactions triggered this Better Home & Finance (BETR) Schedule 13D/A filing?

The filing was triggered because Telco Holding Trust purchased 298,756 Class A Common shares in open-market transactions between May 7 and May 8, 2026. Those purchases caused Thor Bjorgolfsson’s beneficial ownership percentage to increase by more than one percent, requiring an updated disclosure.

How are warrants included in the beneficial ownership for Better Home & Finance (BETR)?

Novator Capital Sponsor Ltd.’s beneficial ownership includes 46,050 Class A shares issuable upon warrant exercise. Each whole underlying share is exercisable at an adjusted price of $575.00 per share, and the warrants expire on August 22, 2028, increasing the reported share count for ownership calculations.

What percentage of Better Home & Finance (BETR) does Novator Capital Sponsor Ltd. report owning?

Novator Capital Sponsor Ltd. reports beneficial ownership of 659,446 Class A shares, representing 5.02% of the class. This figure includes 613,396 outstanding shares and 46,050 additional shares that could be acquired upon exercising warrants, using the issuer’s latest reported share count as a base.

Does Thor Bjorgolfsson directly hold shares of Better Home & Finance (BETR) in this filing?

The filing states that securities are held directly by Novator Capital Sponsor Ltd. and The Telco Holding Trust, over which Thor Bjorgolfsson may have voting and dispositive control. He is deemed to beneficially own 958,202 shares but expressly disclaims beneficial ownership of shares held by those entities.

What share count does the Schedule 13D/A Amendment No. 9 use for Better Home & Finance (BETR)?

Ownership percentages are calculated using 13,086,244 Class A Common shares outstanding as of May 1, 2026, as reported in the company’s Form 10-Q, plus 46,050 additional shares issuable upon exercise of warrants held by the reporting persons, to determine the fully diluted ownership stakes.