Porch Group, Inc. ownership disclosure: Park West Asset Management LLC, Park West Investors Master Fund, Limited and Peter S. Park jointly report beneficial ownership positions in Porch Group common stock. As of January 22, 2026, PWAM/Park West‑affiliated entities are reported to beneficially own 5,834,559 shares (5.5%) and PWIMF 5,270,252 shares (5.0%), using an outstanding share base of 105,371,353 shares as of October 31, 2025. The filing notes 18,312,208 shares held by a company affiliate considered treasury shares under Delaware law.
Positive
None.
Negative
None.
Insights
Joint Schedule 13G/A reports passive beneficial ownership positions near 5%.
The filing states PWAM, PWIMF and Peter S. Park jointly file and attributes 5,834,559 and 5,270,252 shares to affiliated entities, based on an issuer disclosure of 105,371,353 outstanding shares as of October 31, 2025.
These positions are declared with shared voting and dispositive power; the filing is a routine ownership disclosure and does not indicate changes in control or a transaction. Future filings would show material changes if ownership crosses regulatory thresholds.
Key Figures
PWAM beneficial ownership:5,834,559 sharesPWIMF beneficial ownership:5,270,252 sharesShares outstanding:105,371,353 shares+1 more
4 metrics
PWAM beneficial ownership5,834,559 sharesreported as of Event Date January 22, 2026
PWIMF beneficial ownership5,270,252 sharesreported as of Event Date January 22, 2026
Shares outstanding105,371,353 sharesas of October 31, 2025 (source: issuer 10-Q per filing)
Treasury shares (affiliate)18,312,208 sharesheld by Porch Reciprocal Exchange, excluded from outstanding
"PWAM as investment manager to the PW Funds may be deemed to beneficially own 5,834,559 shares"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
shared dispositive powerregulatory
"Shared Dispositive Power 5,834,559.00"
treasury sharesfinancial
"18,312,208 shares held by Porch Reciprocal Exchange ... considered treasury shares"
Treasury shares are a company’s own stock that it has repurchased and keeps on its books instead of canceling or leaving in the hands of outside investors. Think of them like coupons a business puts back in a drawer: they don’t vote or receive dividends while held, but they can be reissued later for employee pay or fundraising. For investors this matters because buybacks change the number of shares that count toward earnings and ownership, can boost per‑share metrics, and use corporate cash that might otherwise go to growth or dividends.
Direct answer: The filing reports PWAM‑affiliated holdings of 5,834,559 shares (5.5%) and PWIMF 5,270,252 shares (5.0%).Context: These percentages use an outstanding share base of 105,371,353 shares cited as of October 31, 2025 in the disclosure.
Does the filing indicate control or voting sole power?
Direct answer: No; the filing shows zero sole voting power and reports the positions under shared voting and dispositive power.Context: The Reporting Persons attribute voting/dispositive rights to affiliated entities rather than sole control.
What share count is used to calculate the percentages?
Direct answer: Percentages are based on 105,371,353 shares outstanding as of October 31, 2025. Context: That outstanding count is cited from Porch Group's Form 10‑Q filed November 6, 2025, per the report's language.
Are any shares excluded from outstanding counts?
Direct answer: Yes; the filing states 18,312,208 shares held by a company affiliate are treated as treasury shares and excluded from outstanding. Context: The report notes these shares are not entitled to vote and are excluded under Delaware law and GAAP classification.
Who signed the joint filing and when?
Direct answer: The report is signed by Melissa Victoria Frayer for PWAM and by Peter S. Park, dated June 16, 2026. Context: Signatures appear on the Schedule 13G/A amendment indicating the joint filing agreement is executed by the reporting persons.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Porch Group, Inc.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
733245104
(CUSIP Number)
01/22/2026
(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):
733245104
1
Names of Reporting Persons
Park West Asset Management LLC
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
0.00
6
Shared Voting Power
5,834,559.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,834,559.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,834,559.00
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)
5.5 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: See Item 2 for additional information.
SCHEDULE 13G
CUSIP Number(s):
733245104
1
Names of Reporting Persons
Park West Investors Master Fund, Limited
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,270,252.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,270,252.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,270,252.00
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)
5.0 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: See Item 2 for additional information.
SCHEDULE 13G
CUSIP Number(s):
733245104
1
Names of Reporting Persons
Peter S. Park
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,834,559.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,834,559.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,834,559.00
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)
5.5 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: See Item 2 for additional information.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Porch Group, Inc.
(b)
Address of issuer's principal executive offices:
411 1st Avenue S. Suite 501,Seattle,WA,98104
Item 2.
(a)
Name of person filing:
This report on Schedule 13G (this "Schedule 13G") is being jointly filed by (i) Park West Asset Management LLC, a Delaware limited liability company ("PWAM"), (ii) Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF"), and (iii) Peter S. Park ("Mr. Park" and, collectively with PWAM and PWIMF, the "Reporting Persons"). PWAM is the investment manager to PWIMF and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI" and, together with PWIMF, the "PW Funds"). Mr. Park, through one or more affiliated entities, is the controlling manager of PWAM.
As of January 22, 2026 (the "Event Date"), PWIMF held 5,270,252 shares of common stock, par value $0.0001 per share (the "Common Stock") and PWPI held 564,307 shares of Common Stock of Porch Group, Inc. (the "Issuer").
PWAM as investment manager to the PW Funds may be deemed to beneficially own 5,834,559 shares of Common Stock of the Issuer.
The foregoing beneficial ownership percentage is based upon 105,371,353 shares of Common Stock issued and outstanding as of October 31, 2025, based on information reported by the Issuer in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 6, 2025. The number of Issuer shares outstanding excludes 18,312,208 shares held by Porch Reciprocal Exchange, an affiliate of the Issuer, which are considered treasury shares for GAAP accounting purposes and under Delaware law and are not considered outstanding for quorum and are not entitled to vote.
(b)
Address or principal business office or, if none, residence:
The address for the Reporting Persons is: One Letterman Drive, Building C, Suite C5-900, San Francisco, CA 94129.
(c)
Citizenship:
PWAM is organized under the laws of the State of Delaware. PWIMF is a Cayman Islands exempted company. Mr. Park is a citizen of the United States.
(d)
Title of class of securities:
Common Stock, par value $0.0001 per share
(e)
CUSIP No.:
733245104
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:
PWAM and Mr. Park - 5,834,559.00
PWIMF - 5,270,252.00
(b)
Percent of class:
PWAM and Mr. Park - 5.5%
PWIMF - 5.0%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
PWAM and Mr. Park - 5,834,559.00
PWIMF - 5,270,252.00
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
PWAM and Mr. Park - 5,834,559.00
PWIMF - 5,270,252.00
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.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
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 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.
Park West Asset Management LLC
Signature:
/s/ Melissa Victoria Frayer
Name/Title:
Melissa Victoria Frayer, Senior Legal Officer and Chief Compliance Officer
Date:
06/16/2026
Park West Investors Master Fund, Limited
Signature:
/s/ Melissa Victoria Frayer
Name/Title:
Melissa Victoria Frayer, Senior Legal Officer and Chief Compliance Officer of Park West Asset Management LLC, Investment Manager
