SCHEDULE: Park West Discloses Stake in Porch Group

Park West Asset Management LLC, along with affiliated entities, has reported a beneficial ownership stake of 4.8% in Porch Group, Inc.

Summary

• Park West Asset Management LLC, Park West Investors Master Fund, Limited, and Peter S. Park (collectively, the "Reporting Persons") have filed a Schedule 13G, indicating their beneficial ownership of Porch Group, Inc. common stock.
• As of February 13, 2026, the Reporting Persons collectively hold 5,098,692 shares of Porch Group, Inc. common stock.
• This holding represents approximately 4.8% of the Issuer's outstanding common stock.
• The total number of outstanding shares used for this calculation is 105,371,353 as of October 31, 2025, as reported by Porch Group, Inc. in its Form 10-Q filed on November 6, 2025.
• Shares held by Porch Reciprocal Exchange (18,312,208) are excluded from the outstanding share count as they are considered treasury shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it is a routine disclosure of beneficial ownership and does not provide new operational or financial information about the company itself.

Positives

• Park West Asset Management LLC, a significant investment manager, has taken a notable stake in Porch Group, Inc., potentially signaling confidence in the company's future prospects.
• The disclosed ownership of 4.8% indicates a substantial investment by the Reporting Persons.

Negatives

• The filing does not contain any negative financial results or operational challenges for Porch Group, Inc. itself, as it is a disclosure of ownership by a third party.

Risks

• The filing does not explicitly mention any risks associated with Porch Group, Inc. or the investment itself. However, any investment carries inherent market risks.
• The concentration of ownership by a single reporting entity could potentially lead to increased volatility if that entity decides to divest its holdings.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance from Porch Group, Inc. or the reporting persons regarding future performance.

Industry Context

StockSavvy.ai notes that significant stake disclosures by investment firms like Park West Asset Management often precede or coincide with shifts in a company's strategic direction or market perception. This filing indicates an active interest from institutional investors in the technology and insurance sectors where Porch Group operates.

Stakeholder Impact

• Shareholders: The disclosure may influence investor sentiment and trading activity due to the significant stake held by Park West.
• Management of Porch Group, Inc.: The increased institutional interest may lead to engagement with the reporting persons regarding company strategy or governance.
• Competitors: The filing provides insight into the investment landscape for companies in Porch Group's sector.

Next Steps

• The Reporting Persons will continue to monitor their investment in Porch Group, Inc.
• Further filings may be required if ownership levels change significantly.

Key Dates

Keywords

Porch Group, Park West Asset Management, Schedule 13G, Beneficial Ownership, SEC Filing, Investment, Common Stock, Park West Investors Master Fund, Peter S. Park