Porch Group, Inc. Schedule 13G/A reports that Park West Asset Management LLC, Park West Investors Master Fund, Limited and Peter S. Park jointly disclose beneficial ownership stakes in Porch Group common stock. The filing states PWAM (as manager) and Mr. Park beneficially own 5,098,692 shares (4.8%), and PWIMF owns 4,601,831 shares (4.4%), based on 105,371,353 shares outstanding as of October 31, 2025.
The filing attributes shared voting and dispositive power over the listed shares to the reporting persons and attaches a joint filing agreement dated June 16, 2026. Signatures by Melissa Victoria Frayer and Peter S. Park appear on the amendment.
Positive
None.
Negative
None.
Insights
Park West reports sub-5% holdings in Porch Group with shared voting/dispositive power.
The filing quantifies beneficial ownership: 5,098,692 shares (4.8%) for PWAM/Mr. Park and 4,601,831 shares (4.4%) for PWIMF, using 105,371,353 shares outstanding as of October 31, 2025 as the denominator. These figures reflect beneficial ownership aggregated by the manager.
Key dependencies include the ownership aggregation rules and the reporting date; subsequent filings could show changes. Cash‑flow treatment and any planned dispositions are not disclosed in the provided excerpt.
Key Figures
PWAM/Mr. Park beneficial ownership:5,098,692 sharesPWIMF beneficial ownership:4,601,831 sharesPercent of class (PWAM/Mr. Park):4.8%+3 more
6 metrics
PWAM/Mr. Park beneficial ownership5,098,692 sharesreported as of <date> Event Date February 13, 2026
PWIMF beneficial ownership4,601,831 sharesheld by Park West Investors Master Fund as of <date> Event Date February 13, 2026
Percent of class (PWAM/Mr. Park)4.8%based on 105,371,353 shares outstanding as of October 31, 2025
Percent of class (PWIMF)4.4%based on 105,371,353 shares outstanding as of October 31, 2025
Shares outstanding used105,371,353 sharesissuer shares outstanding as of October 31, 2025 (Form 10-Q reference)
Treasury shares excluded18,312,208 sharesheld by Porch Reciprocal Exchange and excluded from outstanding count
Key Terms
beneficially own, shared dispositive power, treasury shares, CUSIP, +1 more
5 terms
beneficially ownregulatory
"PWAM as investment manager to the PW Funds may be deemed to beneficially own 5,098,692 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 5,098,692.00"
treasury sharesfinancial
"18,312,208 shares held by Porch Reciprocal Exchange ... are 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.
CUSIPregulatory
"CUSIP No.: 733245104"
A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.
joint filing agreementregulatory
"Joint Filing Agreement, dated as of June 16, 2026"
What stake in Porch Group (PRCH) does Park West report?
Park West reports beneficial ownership of 5,098,692 shares (4.8%) for PWAM and Mr. Park, and 4,601,831 shares (4.4%) for PWIMF, using 105,371,353 shares outstanding as of October 31, 2025.
Does the filing show who controls voting or disposition of the shares?
The filing states the reporting persons have shared voting power and shared dispositive power over the reported holdings; it records 0 sole voting and 0 sole dispositive power in the excerpt.
What outstanding share count does the Schedule 13G/A use for percentage calculations?
Percentages are calculated using 105,371,353 shares outstanding as of October 31, 2025, as reported by the issuer in its Form 10-Q referenced in the filing.
Are Porch Reciprocal Exchange shares included in the outstanding count?
The filing notes 18,312,208 shares held by Porch Reciprocal Exchange are treated as treasury shares and are excluded from the outstanding share count used in the calculation.
When was the joint filing agreement dated and who signed the amendment?
The joint filing agreement attached is dated June 16, 2026. The amendment is signed by Melissa Victoria Frayer (Senior Legal Officer and CCO) and Peter S. Park on the signature pages.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Porch Group, Inc.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
733245104
(CUSIP Number)
02/13/2026
(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
5,098,692.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,098,692.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,098,692.00
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)
4.8 %
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
4,601,831.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,601,831.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,601,831.00
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)
4.4 %
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
5,098,692.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,098,692.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,098,692.00
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)
4.8 %
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 February 13, 2026 (the "Event Date"), PWIMF held 4,601,831 shares of common stock, par value $0.0001 per share (the "Common Stock") and PWPI held 496,861 shares of Common Stock of Porch Group, Inc. (the "Issuer").
PWAM as investment manager to the PW Funds may be deemed to beneficially own 5,098,692 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 - 5,098,692.00
PWIMF - 4,601,831.00
(b)
Percent of class:
PWAM and Mr. Park - 4.8%
PWIMF - 4.4%
(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 - 5,098,692.00
PWIMF - 4,601,831.00
(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 - 5,098,692.00
PWIMF - 4,601,831.00
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
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
Date:
06/16/2026
Peter S. Park
Signature:
/s/ Peter S. Park
Name/Title:
Peter S. Park
Date:
06/16/2026
Exhibit Information
Exhibit 1 - Joint Filing Agreement, dated as of June 16, 2026, by and among Park West Asset Management LLC, Park West Investors Master Fund, Limited and Peter S. Park (incorporated by reference to Exhibit A to the Schedule 13G/A No. 1 filed with the Securities and Exchange Commission on June 16, 2026).
