Lennar Stock Is Depressed. Why Berkshire Hathaway Is Piling In.
By
Andrew Bary
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Updated Sept 22, 2026, 3:15 pm EDT / Original Sept 22, 2026, 9:24 am

The Lilac Ridge community by Lennar Homes in Vacaville, California. (Photo: David Paul Morris/Bloomberg)
Berkshire Hathaway purchased more than $200 million of depressed Lennar stock over three trading days and now owns just over 10% of the country’s second largest home builder.

Berkshire bought about 2.6 million shares of Lennar’s Class A shares starting on Sept. 17. Its new total stake of 23.7 million shares is worth more than $1.8 billion, according to a Form 4 filed with the Securities and Exchange Commission after the close of Monday trading. The company also owns over 500,000 shares of Lennar’s supervoting Class B stock.

Lennar didn’t immediately respond to a request for comment.

Lennar A shares finished Monday at $78.08, up 2.2%, and were at up 5.4% to $82.30 Tuesday, clearly a sign that investors like the Berkshire purchases.

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The bigger development is that Berkshire now has lifted its stake by 80%, or more than 10 million shares, since the end of second quarter, when it held 13.1 million of the Class A shares, or about 6% of the home builder. The holding of 13.1 million shares had been the most recent disclosed holding and was made in mid-August as part of Berkshire’s quarterly 13-F holding detailing its investments in U.S.-listed stocks.

Here’s what appears to have happened. Berkshire accumulated a sizable amount of Lennar stock from June 30 until recently and then made additional buys starting last Thursday.

The reason for the filing late Monday is that Berkshire went over the 10% ownership threshold in the A shares with its purchase Thursday, and has to file any buys or sells of the stock once it hits 10%. Any buys or sells for a holder above 10% in a company must be disclosed within two business days. Purchases below that threshold don’t require a prompt filing."

barrons.com - Berkshire buys lennar stock