Hippo (HIPO): Lennar updates 13D to 8.6% with 2,169,580 shares

Hippo Holdings (HIPO): Lennar Corporation and affiliated entities filed Amendment No. 4 to Schedule 13D reporting beneficial ownership of 2,169,580 shares of Hippo common stock, representing 8.6% of outstanding shares.

Rhea-AI Filing Summary

Hippo Holdings (HIPO): Lennar Corporation and affiliated entities filed Amendment No. 4 to Schedule 13D reporting beneficial ownership of 2,169,580 shares of Hippo common stock, representing 8.6% of outstanding shares. The percentage is based on 25,335,179 shares outstanding as of October 29, 2025. One reporting person also holds an irrevocable proxy to vote 16,470 shares, while an agreement limits voting decisions to no more than 9.99% of Hippo’s voting interests.

The filing lists recent open‑market sales by LEN FW Investor, LLC: 119,780 shares on November 7, 2025 at a weighted‑average price of $33.87, and 62,058 shares on November 10, 2025 at $33.59, with additional sales on November 11 and 12, 2025 at weighted‑average prices of $33.22 and $34.06.

FAQ

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

What stake in Hippo (HIPO) does Lennar report in this 13D/A?

Lennar and affiliates report beneficial ownership of 2,169,580 shares, representing 8.6% of Hippo’s outstanding common stock.

What outstanding share count did HIPO use to calculate Lennar’s 8.6%?

The percentage is based on 25,335,179 shares outstanding as of October 29, 2025, per Hippo’s Form 10‑Q.

Does Lennar have any voting limitations over HIPO shares?

Yes. A reporting person holds an irrevocable proxy to vote 16,470 shares but agreed not to make voting decisions above 9.99% of Hippo’s voting interests.

What recent HIPO share sales by Lennar are disclosed?

LEN FW Investor, LLC sold 119,780 shares on Nov 7, 2025 at a weighted‑average $33.87, and 62,058 shares on Nov 10, 2025 at $33.59, with additional sales on Nov 11–12, 2025.

What are Lennar’s reported voting and dispositive powers over HIPO?

The cover pages show 0 sole voting/dispositive power and 2,169,580 shared voting/dispositive power for key reporting entities.

Which entities are reporting persons in this filing?

Reported entities include Lennar Corporation, Len X, LLC, and LEN FW Investor, LLC.

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

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Accepted by SEC EDGAR 11/14/2025 - 04:39 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

Hippo Holdings Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

433539103

(CUSIP Number)

Katherine Lee Martin
Lennar Corporation, 5505 Waterford District Drive
Miami, FL, 33126
(305) 559-4000

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

11/12/2025

(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).

SCHEDULE 13D

CUSIP No. 433539103

1

Name of reporting person

Lennar Corporation

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,169,580.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,169,580.00

11

Aggregate amount beneficially owned by each reporting person

2,169,580.00

12

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

13

Percent of class represented by amount in Row (11)

8.6 %

14

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13D

CUSIP No. 433539103

1

Name of reporting person

Len X, 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)

AF

5

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

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,169,580.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,169,580.00

11

Aggregate amount beneficially owned by each reporting person

2,169,580.00

12

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

13

Percent of class represented by amount in Row (11)

8.6 %

14

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13D

CUSIP No. 433539103

1

Name of reporting person

LEN FW Investor, 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)

AF

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 0.00
8	Shared Voting Power 2,186,050.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,169,580.00

11

Aggregate amount beneficially owned by each reporting person

2,186,050.00

12

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

13

Percent of class represented by amount in Row (11)

8.6 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.0001 per share
(b)	Name of Issuer: Hippo Holdings Inc.
(c)	Address of Issuer's Principal Executive Offices: One Almaden Blvd, Suite 400, San Jose, CALIFORNIA , 95113.
Item 1 Comment: This Amendment No. 4 to Schedule 13D (this "Amendment") amends and supplements the Schedule 13D filed on August 9, 2021, as amended by Amendment No. 1 filed on April 12, 2022, Amendment No. 2 filed on August 19, 2022 and Amendment No. 3 filed on July 3, 2025 (collectively, the "Schedule 13D") relating to the common stock, par value $0.0001 per share (the "Common Stock"), of Hippo Holdings Inc. (the "Issuer"), a Delaware corporation. Except as specifically provided herein, this Amendment does not modify any of the information previously reported in the Schedule 13D. Capitalized terms used herein and not otherwise defined herein shall have the respective meanings assigned to such terms in the Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) of the Schedule 13D is hereby amended and restated as follows: The cover page to this Schedule 13D for each Reporting Person is incorporated by reference in its entirety into this Item 5. As of the date of this Amendment, one of the Reporting Persons owns 2,169,580 shares of the Issuer's Common Stock, constituting approximately 8.6% of the Issuer's outstanding Common Stock. In addition, that Reporting Person holds an irrevocable proxy to vote 16,470 shares of the Issuer's Common Stock. Those shares, together with the shares owned by the Reporting Person, constitute approximately 8.6% of the outstanding Common Stock. Because that Reporting Person has agreed not to participate in a vote or consent, or make a decision, with regard to more than 9.99% of the voting interests in the Issuer, the Reporting Persons deny that any of them is the beneficial owner of shares that are subject to the irrevocable proxy to the extent they would increase a Reporting Person's voting interest above 9.99%. Such percentage was calculated based on 25,335,179 outstanding shares of Common Stock as of October 29, 2025, as set forth in the Issuer's Quarterly Report on 10-Q filed with the SEC on November 5, 2025.
(c)	Item 5(c) of the Schedule 13D is hereby amended and supplemented as follows: On November 7, 2025, LEN FW Investor, LLC sold 119,780 shares of Common Stock, each in open market transactions at prices ranging from $33.00 to $34.37 per share (a weighted-average price of $33.87 per share). On November 10, 2025, LEN FW Investor, LLC sold 62,058 shares of Common Stock, each in open market transactions at prices ranging from $33.01 to $35.135 per share (a weighted-average price of $33.59 per share). On November 11, 2025, LEN FW Investor, LLC sold 65,000 shares of Common Stock, each in open market transactions at prices ranging from $32.98 to $33.70 per share (a weighted-average price of $33.22 per share). On November 12, 2025, LEN FW Investor, LLC sold 60,000 shares of Common Stock, each in open market transactions at prices ranging from $33.555 to $34.76 per share (a weighted-average price of $34.06 per share). The Reporting Persons undertake to provide to the Issuer or the staff of the U.S. Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Item 5(c). Except as set forth herein, none of the Reporting Persons has effected any transactions with respect to the securities of the Issuer during the past sixty 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.

Lennar Corporation

Signature:	/s/ Katherine Lee Martin
Name/Title:	Katherine Lee Martin, Chief Legal Officer and Corporate Secretary
Date:	11/14/2025

Len X, LLC

Signature:	/s/ Katherine Lee Martin
Name/Title:	Katherine Lee Martin, Corporate Secretary
Date:	11/14/2025

LEN FW Investor, LLC

Signature:	/s/ Katherine Lee Martin
Name/Title:	Katherine Lee Martin, Corporate Secretary
Date:	11/14/2025