Porch shares rose 110% in Q2, adding 501 basis points to Granahan Investment Management’s relative performance. The fund credited Q1 results from its reciprocal-insurance model: improving loss ratios, capital-light commissions and fees, and strong cash flow.
Granahan said it had trimmed its position but Porch remained the strategy’s largest holding at quarter-end. The letter says the Porch Reciprocal Exchange provides homeowners insurance informed by proprietary data on roughly 90% of U.S. homes, alongside the company’s vertical software for home services.
