JPMorgan discloses 5.9% Lemonade (LMND) ownership in Schedule 13G

Rhea-AI Filing Summary

JPMorgan Chase & Co. reported a passive ownership stake in Lemonade, Inc. common stock as of 12/31/2025. The firm disclosed beneficial ownership of 4,482,950 shares, representing 5.9% of the class. JPMorgan has sole voting power over 2,306,747 shares and shared voting power over 43 shares, with sole dispositive power over 4,477,816 shares and shared dispositive power over 4,464 shares.

The filing is made on a Schedule 13G basis, meaning JPMorgan certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Lemonade.

Insights

Equity ownership and disclosure analyst

JPMorgan discloses a 5.9% passive stake in Lemonade.

JPMorgan Chase & Co. reports beneficial ownership of 4,482,950 Lemonade common shares, equal to 5.9% of the class as of 12/31/2025. This crosses the 5% threshold that requires public disclosure on a Schedule 13G.

The Schedule 13G certification states the position is held in the ordinary course of business and not with the purpose or effect of changing or influencing control of Lemonade, Inc.. Voting authority is split, with sole voting power over 2.3 million shares and sole dispositive power over about 4.48 million shares.

As a passive institutional stake, this primarily signals that JPMorgan-affiliated entities have meaningful exposure to Lemonade’s equity. Any material change in percentage ownership in future year-end or amendment filings would further clarify how its position evolves over time.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Lemonade, Inc.

(Name of Issuer)

Common Stock, $0.00001 par value per share

(Title of Class of Securities)

52567D107

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. 52567D107

1

Names of Reporting Persons

JPMORGAN CHASE & CO.

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 2,306,747.00
6	Shared Voting Power 43.00
7	Sole Dispositive Power 4,477,816.00
8	Shared Dispositive Power 4,464.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,482,950.00

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)

5.9 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Lemonade, Inc.
(b)	Address of issuer's principal executive offices: 5 Crosby Street 3rd Floor New York NY 10013
Item 2.
(a)	Name of person filing: JPMORGAN CHASE & CO.
(b)	Address or principal business office or, if none, residence: 270 Park Avenue,,New York, NY 10017
(c)	Citizenship: DE
(d)	Title of class of securities: Common Stock, $0.00001 par value per share
(e)	CUSIP No.: 52567D107
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: 4482950
(b)	Percent of class: 5.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2306747
	(ii) Shared power to vote or to direct the vote: 43
	(iii) Sole power to dispose or to direct the disposition of: 4477816
	(iv) Shared power to dispose or to direct the disposition of: 4464
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. 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.
	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. J.P. Morgan Trust Company of Delaware; J.P. Morgan Securities LLC; J.P. MORGAN SE; JPMorgan Chase Bank, National Association; J.P. Morgan Investment Management Inc.; JPMorgan Asset Management (Taiwan) Limited; JPMorgan Asset Management (China) Company Limited; J.P. Morgan Wealth Management Solutions Inc.
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. Not Applicable
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. 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.

JPMORGAN CHASE & CO.

Signature:	Rachel Tsvaygoft
Name/Title:	Vice President
Date:	01/21/2026

FAQ

How much of Lemonade, Inc. (LMND) stock does JPMorgan Chase & Co. own?

JPMorgan Chase & Co. reports beneficial ownership of 4,482,950 shares of Lemonade, Inc. common stock, representing 5.9% of the outstanding class as of 12/31/2025.

Is JPMorgan’s stake in Lemonade, Inc. (LMND) considered passive or for control?

The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Lemonade, Inc.

What voting power does JPMorgan Chase & Co. have over its Lemonade (LMND) shares?

JPMorgan reports sole voting power over 2,306,747 shares and shared voting power over 43 shares of Lemonade common stock.

What dispositive power does JPMorgan have over its Lemonade, Inc. shares?

The filing shows sole dispositive power over 4,477,816 shares and shared dispositive power over 4,464 shares of Lemonade common stock.

Which JPMorgan-related entities are involved in holding Lemonade (LMND) shares?

Subsidiaries listed include J.P. Morgan Trust Company of Delaware, J.P. Morgan Securities LLC, JPMorgan Chase Bank, National Association, and several JPMorgan asset management entities.

Why did JPMorgan Chase & Co. file a Schedule 13G for Lemonade, Inc.?

A Schedule 13G is required when an investor beneficially owns more than 5% of a class of registered equity securities and qualifies to report on a passive basis rather than as an activist holder.