SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13G*

(Rule 13d-102)

INFORMATION TO BE INCLUDED

IN STATEMENTS FILED PURSUANT

TO RULES 13d-1(b), (c), AND

(d) AND AMENDMENTS THERETO

FILED PURSUANT TO RULE 13d-2

(AMENDMENT NO. 5 )*

Pico Holdings, Inc.

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

693366205

(CUSIP Number)

December 31, 2020

(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)

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in 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).

1	NAMES OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	Amundi

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☐
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Republic of France

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER


		6	SHARED VOTING POWER
			2,486,939

		7	SOLE DISPOSITIVE POWER


		8	SHARED DISPOSITIVE POWER
			2,486,939

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,486,939

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐ Not Applicable

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	13.3%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	HC

1	NAMES OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	Amundi Asset Management

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☐
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Republic of France

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER


		6	SHARED VOTING POWER
			2,486,939

		7	SOLE DISPOSITIVE POWER


		8	SHARED DISPOSITIVE POWER
			2,486,939

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,486,939

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐ Not Applicable

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	13.3%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	FI

1	NAMES OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	KBI Global Investors Ltd

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☐
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Dublin, Ireland

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER


		6	SHARED VOTING POWER
			1,487,056

		7	SOLE DISPOSITIVE POWER


		8	SHARED DISPOSITIVE POWER
			1,487,056

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	1,487,056

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐ Not Applicable

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	7.9%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	FI

1	NAMES OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	KBI Global Investors (North America) Ltd

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☐
3	SEC USE ONLY


4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Dublin, Ireland

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER


		6	SHARED VOTING POWER
			999,883

		7	SOLE DISPOSITIVE POWER


		8	SHARED DISPOSITIVE POWER
			999,883

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	999,883

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐ Not Applicable

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	5.3%

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	FI

Item 1(a).

Name of Issuer:

Pico Holdings, Inc.

Item 1(b).

Address of Issuer's Principal Executive Offices:

3480 GS Richards Boulevard Suite 101

Carson City, NV 89703

Item 2(a).

Name of Person Filing:

Amundi

Amundi Asset Management

KBI Global Investors Ltd

KBI Global Investors (North America) Ltd

Item 2(b).

Address of Principal Business Office or, if none, Residence:

Amundi

91-93 boulevard Pasteur

75015 Paris, France

Amundi Asset Management

90 boulevard Pasteur

75015 Paris, France

KBI Global Investors Ltd

2 Harbourmaster Place,

IFSC,

Dublin 1,

Ireland,

D01 X56P3

KBI Global Investors (North America) Ltd

2 Harbourmaster Place,

IFSC,

Dublin 1,

Ireland,

D01 X56P3

Item 2(c).

Citizenship:

Both Amundi and Amundi Asset Management are organized under the laws of the Republic of France.

Both KBI Global Investors Ltd and KBI Global Investors (North America) Ltd are organized under the laws of Ireland.

Item 2(d).

Title of Class of Securities:

Ordinary Shares

Item 2(e).

CUSIP Number:

693366205

Item 3.

If This Statement Is Filed Pursuant to Sections 240.13d-1(b) or

240.13d-2(b) or (c), Check Whether the Person Filing Is a(n):

(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)

☐ Investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E);

(f)

☐ Employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F);

(g)

☐ Parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G);

(h)

☐ Savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

☐ 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 Section 240.13d-1(b)(1)(ii)(J);

(k)

☐ Group, in accordance with Section 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____________________________ .

Amundi is a holding company organized under the laws of France as a société anonyme.

Amundi Asset Management is an investment company organized under the laws of Frances as a société anonyme.

Both KBI Global Investors Ltd and KBI Global Investors (North America) Ltd are investment companies organized under the laws of Ireland.

Item 4.

Ownership.

Amundi is a majority-owned affiliate of Credit Agricole S.A., a French bank. Amundi Asset Management is a wholly-owned subsidiary of Amundi.

Both KBI Global Investors Ltd and KBI Global Investors (North America) Ltd are wholly-owned subsidiaries of Amundi Asset Managment.

(a)

Amount beneficially owned: See Item 9 of each cover page.

(b)

Percent of class: See Item 11 of each cover page.

(c)

Number of shares as to which the person has:

(i)

Sole power to vote or to direct the vote: See Item 5 of each cover page.

(ii)

Shared power to vote or to direct the vote: See Item 6 of each cover page.

(iii)

Sole power to dispose or to direct the disposition of: See Item 7 of each cover page.

(iv)

Shared power to dispose or to direct the disposition of: See Item 8 of each cover page.

Item 5.

Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☐.

Item 6.

Ownership of More Than Five 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.

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.

Certification.

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.

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.

Dated: Executed as a sealed instrument this 16th day of February, 2021

	Company Name
	Amundi
	By:	/s/ Lisa M. Jones
		Name: Lisa M. Jones
		Title: President and Chief Executive Officer
		Head of the Americas
		Amundi US, Inc.
		By Power of Attorney

	Company Name
		Amundi Asset Management
	By:	/s/ Lisa M. Jones
		Name: Lisa M. Jones
		Title: President and Chief Executive Officer
		Head of the Americas
		Amundi US, Inc.
		By Power of Attorney

	Company Name
		KBI Global Investors Ltd
	By:	/s/ Noel O'Halloran
		Name: Noel O'Halloran
		Title: Chief Investment Officer of KBI

	Company Name
		KBI Global Investors (North America) Ltd
	By:	/s/ Noel O'Halloran
		Name: Noel O'Halloran
		Title: Chief Investment Officer of KBI

Exhibit 1

AGREEMENT

Each of the undersigned, pursuant to Rule 13d-1(k)(l) under the Securities Exchange Act of 1934, as amended, hereby agrees that only one statement containing the information required by Schedule 13G needs be filed with respect to the ownership by each of the undersigned of the shares of ordinary shares of Pico Holdings, Inc. that the Schedule 13G to which this Agreement is appended as Exhibit 1 is to be filed with the Securities and Exchange Commission on behalf of each of the undersigned on or about the date hereof.

EXECUTED as a sealed instrument this 16th day of February, 2021.

	Company Name
		Amundi
	By:	/s/ Lisa M. Jones
		Name: Lisa M. Jones
		Title: President and Chief Executive Officer
		Head of the Americas
		Amundi US, Inc.
		By Power of Attorney

	Company Name
		Amundi Asset Management
	By:	/s/ Lisa M. Jones
		Name: Lisa M. Jones
		Title: President and Chief Executive Officer
		Head of the Americas
		Amundi US, Inc.
		By Power of Attorney

	Company Name
		KBI Global Investors Ltd
	By:	/s/ Noel O'Halloran
		Name: Noel O'Halloran
		Title: Chief Investment Officer of KBI

	Company Name
		KBI Global Investors (North America) Ltd
	By:	/s/ Noel O'Halloran
		Name: Noel O'Halloran
		Title: Chief Investment Officer of KBI

PICO HOLDINGS INC SC 13G/A