Berkshire Hathaway Raises Lennar Stake to About 11% With $53.9M Purchase

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Summary · why it matters

Berkshire Hathaway bought $53.9 million of Lennar shares in the last three days of September, lifting its stake in the U.S. homebuilder to roughly 11%, according to a regulatory filing on Wednesday. From Sept. 28 through Sept. 30, the conglomerate acquired 656,302 class A common shares and 4,108 class B common shares, bringing its total holdings to 26.0 million class A shares and 553,000 class B shares, a position valued at about $2.16 billion. That roughly 11% stake sits just under Vanguard's 11.2% holding, Bloomberg News reported. The buying follows Berkshire's $6.8 billion acquisition of Taylor Morrison Homes in July and adds to its ownership of Clayton Homes, a smaller investment in NVR and a sprawling real estate brokerage business. Berkshire, now run by CEO Greg Abel and overseen by Chairman Howard Buffett, is piling into real estate as climbing mortgage rates pressure the sector; Lennar shares have dropped 22% and the iShares U.S. Home Construction ETF has dipped 12% year to date, lagging the S&P 500's 12% gain.

Impact on assets 3

Consumer Discretionary▲ · 2 stocks
Lennar Corporation
LEN
▲ PositiveCapitalrelevance

Berkshire raised its Lennar stake to roughly 11% with a $53.9M purchase, a vote of confidence amid sector pressure.

Energy Transition & Power Demand▲ · 1 stocks
Berkshire Hathaway Inc
BRK-B
▲ PositiveCapitalrelevance

Berkshire bought $53.9M of Lennar shares, lifting its stake to ~11%, adding to its real estate portfolio.

Off-coverage companies 2

Taylor MorrisonPrivate± Mixed
relevance

The Vanguard Group, Inc.Private± Mixed
relevance

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