BlackRock reports 16.7% stake in Broadstone Net Lease

BlackRock, Inc. filed an Amendment No. 3 to Schedule 13G/A reporting beneficial ownership of 31,970,112 shares of Broadstone Net Lease, Inc. common stock, representing 16.7% of the class.

Rhea-AI Filing Summary

BlackRock, Inc. filed an Amendment No. 3 to Schedule 13G/A reporting beneficial ownership of 31,970,112 shares of Broadstone Net Lease, Inc. common stock, representing 16.7% of the class. The filing shows sole voting power over 31,432,046 shares and sole dispositive power over 31,970,112 shares. The filing identifies iShares Core S&P Small-Cap ETF as a holder with an interest exceeding 5%. The amendment is signed by Spencer Fleming as Managing Director.

Insights

Institutional Ownership Analyst

BlackRock reports a sizable 16.7% stake in Broadstone Net Lease.

The filing lists 31,970,112 shares beneficially owned and shows sole voting power for 31,432,046 shares. This indicates centralized voting and dispositive authority among BlackRock reporting business units.

Cash‑flow treatment and any intent to buy or sell are not stated; subsequent filings would disclose changes in stake or sale activity.

Corporate Governance Specialist

Disclosure flags a >5% position held on behalf of an ETF investor.

The Schedule 13G/A notes that iShares Core S&P Small-Cap ETF holds more than 5% of the common stock, which the filing identifies under Item 6. This clarifies part of the beneficial‑ownership structure.

The amendment includes an Exhibit reference for Item 7 identifying the subsidiary involved; investors may consult future exhibits for entity attribution details.

Key Figures

Beneficial ownership: 31,970,112 shares Percent of class: 16.7% Sole voting power: 31,432,046 shares +2 more

5 metrics

Beneficial ownership 31,970,112 shares Amount beneficially owned as stated in Item 4

Percent of class 16.7% Percent of common stock as stated in Item 4

Sole voting power 31,432,046 shares Sole power to vote or direct the vote as stated in Item 4

Sole dispositive power 31,970,112 shares Sole power to dispose or direct disposition as stated in Item 4

Identified >5% holder iShares Core S&P Small-Cap ETF Item 6 notes this person has interest >5%

Key Terms

Schedule 13G/A, beneficially owned, sole dispositive power, Reporting Business Units

4 terms

Schedule 13G/A regulatory

"Amendment No. 3 to Schedule 13G/A reporting beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficially owned financial

"securities beneficially owned, or deemed to be beneficially owned"

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.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 31970112"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Reporting Business Units other

"securities beneficially owned by certain business units ("Reporting Business Units")"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does BlackRock report in Broadstone Net Lease (BNL)?

BlackRock reports beneficial ownership of 31,970,112 shares, equal to 16.7% of Broadstone Net Lease common stock. The filing states sole voting power for 31,432,046 shares and sole dispositive power for the full 31,970,112 shares.

Does the filing indicate BlackRock will sell or buy more BNL shares?

The amendment does not state any purchase or sale intentions. It reports current beneficial ownership and voting/dispositive powers; the filing contains no explicit instructions or plans to trade the shares.

Which BlackRock business units or funds are implicated in the filing?

The filing attributes holdings to certain Reporting Business Units of BlackRock, Inc. and notes that iShares Core S&P Small-Cap ETF has an interest exceeding 5%. Specific unit-level holdings are not itemized in the excerpt.

Who signed the Schedule 13G/A amendment for BlackRock?

The amendment is signed by Spencer Fleming, identified as Managing Director. The signature section also references Exhibit 24 (Power of Attorney) and Exhibit 99 for Item 7.

What voting power does BlackRock report for its BNL stake?

BlackRock reports sole power to vote or direct the vote for 31,432,046 shares and reports no shared voting power in the disclosed figures. Shared dispositive power is also reported as zero.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/06/2026 - 12:49 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Broadstone Net Lease, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

11135E203

(CUSIP Number)

04/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 11135E203

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 31,432,046.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 31,970,112.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

31,970,112.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

16.7 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Broadstone Net Lease, Inc.
(b)	Address of issuer's principal executive offices: 207 HIGH POINT DRIVE, SUITE 300 VICTOR NY 14564
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 11135E203
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 31970112
(b)	Percent of class: 16.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 31432046
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 31970112
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The interest of 1 such person, iShares Core S&P Small-Cap ETF, in the common stock of Broadstone Net Lease, Inc. is more than five percent of the total outstanding common stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	05/06/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7