D R HORTON INC DHI
COM · Common Stock · CUSIP 23331A109 · ISIN US23331A1097
U.S, homebuilding company
- SectorIndustrials
- IndustryOperative Builders
- HeadquartersArlington, TX
- Founded1978
- Websitedrhorton.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($107.4m this quarter). Holder counts are more reliable. Shares outstanding: 289.7m as of 2026-01-15, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $143.93. Options: 33 managers hold calls ($616.7m notional), 34 hold puts ($526.0m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 826 |
| Q4 2022 | 866 |
| Q1 2023 | 873 |
| Q2 2023 | 938 |
| Q3 2023 | 956 |
| Q4 2023 | 1,069 |
| Q1 2024 | 1,100 |
| Q2 2024 | 1,081 |
| Q3 2024 | 1,200 |
| Q4 2024 | 1,134 |
| Q1 2025 | 1,109 |
| Q2 2025 | 1,112 |
| Q3 2025 | 1,217 |
| Q4 2025 | 1,190 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 497 | 534 |
| Q2 2024 | 528 | 498 |
| Q3 2024 | 590 | 501 |
| Q4 2024 | 455 | 642 |
| Q1 2025 | 521 | 556 |
| Q2 2025 | 510 | 559 |
| Q3 2025 | 661 | 479 |
| Q4 2025 | 492 | 623 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $388.1m | $362.4m | 0.93 |
| Q2 2025 | $498.1m | $455.5m | 0.91 |
| Q3 2025 | $974.6m | $691.3m | 0.71 |
| Q4 2025 | $616.7m | $526.0m | 0.85 |
Biggest buyers
| Capital World Investors | Added | +6.7m |
| Pictet Asset Management Holding SA | Added | +770.5k |
| RENAISSANCE TECHNOLOGIES LLC | New | +663.5k |
| AQR CAPITAL MANAGEMENT LLC | Added | +629.7k |
| Caisse de depot et placement du Quebec | Added | +574.4k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | New | +524.6k |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +402.1k |
| Bank of New York Mellon Corp | Added | +379.6k |
| NORDEA INVESTMENT MANAGEMENT AB | Added | +363.6k |
| Connor, Clark & Lunn Investment Management Ltd. | Added | +352.1k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -14.2m |
| Capital International Investors | Sold out | -2.3m |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Reduced | -1.9m |
| FMR LLC | Reduced | -1.3m |
| BlackRock, Inc. | Reduced | -1.3m |
| Holocene Advisors, LP | Reduced | -802.2k |
| BloombergSen Inc. | Sold out | -641.1k |
| NEUBERGER BERMAN GROUP LLC | Reduced | -526.3k |
| BESSEMER GROUP INC | Reduced | -457.5k |
| FIRST TRUST ADVISORS LP | Reduced | -441.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $155.2m1.1m shares |
| CITADEL ADVISORS LLC | Reduced | $97.4m676.4k shares |
| JANE STREET GROUP, LLC | Added | $71.4m495.9k shares |
| PEAK6 LLC | Reduced | $58.5m406.2k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $35.7m248.1k shares |
| IMC-Chicago, LLC | Reduced | $32.3m224.0k shares |
| Caption Management, LLC | New | $27.2m189.0k shares |
| Walleye Trading LLC | Reduced | $20.8m144.2k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $19.9m138.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $16.5m114.3k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $89.5m621.7k shares |
| BARCLAYS PLC | Added | $86.6m601.0k shares |
| JANE STREET GROUP, LLC | Added | $66.7m463.0k shares |
| CITADEL ADVISORS LLC | Reduced | $63.6m441.8k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $37.4m259.5k shares |
| IMC-Chicago, LLC | Reduced | $21.7m150.7k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $18.0m124.7k shares |
| NOMURA HOLDINGS INC | Unchanged | $15.5m107.5k shares |
| EMG Holdings, L.P. | New | $14.4m100.0k shares |
| Twin Tree Management, LP | Reduced | $11.7m81.2k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Capital World Investors 13G · institution +2.6 pts · filed 2026-02-13 | 12.8% |
| Horton Family Limited Partnership 13G · passive investor -0.1 pts · filed 2026-08-10 | 8.2% |
| BlackRock, Inc. 13G · institution -1.2 pts · filed 2026-07-27 | 7.8% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.9% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 2 | $4.3m | — |
| Q2 2024 | 0 | — | 3 | $373.2k | — |
| Q3 2024 | 0 | — | 1 | $191.2k | — |
| Q4 2024 | 0 | — | 1 | $921.5k | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 1 | $274.6k | — |
| Q3 2025 | 0 | — | 3 | $6.1m | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| Capital World Investors 0.72% of their portfolio | 36.9m $5.3bn | Added +6.7m |
| VANGUARD GROUP INC 0.07% of their portfolio | 32.7m $4.7bn | Reduced -303.1k |
| BlackRock, Inc. 0.07% of their portfolio | 28.3m $4.1bn | Reduced -1.3m |
| STATE STREET CORP 0.06% of their portfolio | 12.1m $1.7bn | Reduced -183.6k |
| FMR LLC 0.05% of their portfolio | 7.4m $1.1bn | Reduced -1.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio | 7.2m $1.0bn | Reduced -73.9k |
| JPMORGAN CHASE & CO 0.07% of their portfolio | 6.9m $992.8m | Reduced -14.2m |
| Capital Research Global Investors 0.12% of their portfolio | 4.6m $669.3m | Added +13.2k |
| NORGES BANK 0.07% of their portfolio | 4.5m $649.3m | Not comparable |
| MORGAN STANLEY 0.03% of their portfolio | 3.7m $530.7m | Added +67.6k |
| Invesco Ltd. 0.05% of their portfolio | 3.5m $507.4m | Added +151.1k |
| GREENHAVEN ASSOCIATES INC 8.13% of their portfolio | 3.5m $501.8m | Reduced -153.6k |
| DIMENSIONAL FUND ADVISORS LP 0.09% of their portfolio | 3.1m $440.8m | Reduced -167.7k |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 2.9m $419.8m | Added +95.3k |
| NORTHERN TRUST CORP 0.05% of their portfolio | 2.9m $415.7m | Reduced -187.2k |
| GOLDMAN SACHS GROUP INC 0.06% of their portfolio | 2.9m $415.6m | Reduced -145.6k |
| FRANKLIN RESOURCES INC 0.09% of their portfolio | 2.6m $367.7m | Reduced -436.6k |
| AQR CAPITAL MANAGEMENT LLC 0.19% of their portfolio | 2.5m $353.3m | Added +629.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.07% of their portfolio | 2.4m $350.0m | Added +32.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.15% of their portfolio | 2.1m $303.5m | Reduced -162.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 2.0m $286.2m | Added +42.9k |
| Bank of New York Mellon Corp 0.05% of their portfolio | 1.9m $272.1m | Added +379.6k |
| UBS Group AG 0.05% of their portfolio | 1.8m $263.7m | Reduced -57.4k |
| Smead Capital Management, Inc. 5.14% of their portfolio | 1.7m $247.7m | Reduced -119.2k |
| EARNEST PARTNERS LLC 1.05% of their portfolio | 1.7m $245.8m | Reduced -121.7k |
| Legal & General Group Plc 0.05% of their portfolio | 1.6m $233.2m | Reduced -128.7k |
| Boston Partners 0.24% of their portfolio | 1.6m $227.5m | Reduced -40.7k |
| Allspring Global Investments Holdings, LLC 0.36% of their portfolio | 1.5m $221.9m | Reduced -406.4k |
| NORDEA INVESTMENT MANAGEMENT AB 0.15% of their portfolio | 1.2m $179.4m | Added +363.6k |
| Pacer Advisors, Inc. 0.45% of their portfolio | 1.2m $173.5m | Added +155.7k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 1.2m $172.9m | Added +37.3k |
| Pictet Asset Management Holding SA 0.16% of their portfolio | 1.1m $162.2m | Added +770.5k |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 1.1m $160.9m | Added +108.1k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.13% of their portfolio | 1.1m $153.3m | Reduced -1.9m |
| BARCLAYS PLC 0.06% of their portfolio | 1.0m $149.6m | Reduced -3.1k |
| NEUBERGER BERMAN GROUP LLC 0.11% of their portfolio | 998.4k $143.8m | Reduced -526.3k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 969.4k $139.6m | Reduced -155.2k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 908.5k $130.8m | Reduced -45.3k |
| FIRST TRUST ADVISORS LP 0.09% of their portfolio | 843.7k $121.5m | Reduced -441.0k |
| Caisse de depot et placement du Quebec 0.20% of their portfolio | 828.4k $119.3m | Added +574.4k |
| 1832 Asset Management L.P. 0.15% of their portfolio | 827.7k $119.2m | Reduced -514 |
| Amundi 0.03% of their portfolio | 769.6k $110.8m | Added +141.9k |
| Nuveen, LLC 0.03% of their portfolio | 768.1k $110.6m | Reduced -26.9k |
| Swiss National Bank 0.06% of their portfolio | 735.3k $105.9m | Reduced -61.6k |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 714.2k $102.9m | Reduced -336.0k |
| SEI INVESTMENTS CO 0.10% of their portfolio | 705.3k $101.6m | Reduced -31.9k |
| Brave Warrior Advisors, LLC 2.37% of their portfolio | 701.8k $101.1m | Reduced -6.9k |
| Sumitomo Mitsui Trust Group, Inc. 0.06% of their portfolio | 691.0k $99.5m | Reduced -50.3k |
| CITIGROUP INC 0.07% of their portfolio | 690.1k $99.4m | Reduced -274.2k |
| Swedbank AB 0.10% of their portfolio | 688.8k $99.2m | Reduced -17.0k |
| RENAISSANCE TECHNOLOGIES LLC 0.15% of their portfolio | 663.5k $95.6m | New |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.06% of their portfolio | 577.0k $84.1m | Added +20.9k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.11% of their portfolio | 569.4k $82.3m | Added +9.8k |
| RHUMBLINE ADVISERS 0.07% of their portfolio | 559.2k $80.5m | Reduced -10.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio | 557.0k $80.2m | Reduced -126.8k |
| Thrivent Financial for Lutherans 0.14% of their portfolio | 556.1k $80.1m | Reduced -8.6k |
| National Pension Service 0.06% of their portfolio | 543.1k $78.2m | Added +731 |
| BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio | 535.1k $77.1m | Reduced -289.6k |
| ARGENT CAPITAL MANAGEMENT LLC 2.15% of their portfolio | 526.3k $75.8m | Reduced -14.1k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.27% of their portfolio | 524.6k $75.6m | New |
| TD Asset Management Inc 0.06% of their portfolio | 523.6k $75.4m | Reduced -369.7k |
| VOYA INVESTMENT MANAGEMENT LLC 0.07% of their portfolio | 521.2k $75.1m | Added +402.1k |
| VICTORY CAPITAL MANAGEMENT INC 0.04% of their portfolio | 490.2k $70.6m | Added +43.5k |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 475.0k $68.4m | Reduced -52.7k |
| Rafferty Asset Management, LLC 0.23% of their portfolio | 470.0k $67.7m | Added +26.8k |
| California Public Employees Retirement System 0.04% of their portfolio | 453.8k $65.4m | Reduced -26.9k |
| ASSETMARK, INC 0.13% of their portfolio | 431.8k $62.2m | Added +24.5k |
| EVENTIDE ASSET MANAGEMENT, LLC 0.96% of their portfolio | 427.0k $61.5m | Reduced -28.6k |
| HighTower Advisors, LLC 0.07% of their portfolio | 422.9k $60.9m | Reduced -15.2k |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 413.8k $59.6m | Added +194.2k |
| Rheos Capital Works Inc. 3.79% of their portfolio | 410.0k $59.1m | Unchanged |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.05% of their portfolio | 409.7k $59.0m | Added +250.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 407.9k $58.8m | Added +962 |
| Russell Investments Group, Ltd. 0.06% of their portfolio | 404.1k $58.2m | Added +26.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.06% of their portfolio | 403.8k $58.2m | Reduced -29.2k |
| Brandywine Global Investment Management, LLC 0.38% of their portfolio | 391.5k $56.4m | Added +86.4k |
| Connor, Clark & Lunn Investment Management Ltd. 0.15% of their portfolio | 385.3k $55.5m | Added +352.1k |
| PARNASSUS INVESTMENTS, LLC 0.13% of their portfolio | 358.0k $51.6m | Reduced -30.4k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.27% of their portfolio | 339.6k $48.9m | Added +125.7k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 332.5k $47.9m | Reduced -6.4k |
| TWO SIGMA ADVISERS, LP 0.09% of their portfolio | 320.9k $46.2m | New |
| MERCER GLOBAL ADVISORS INC /ADV 0.03% of their portfolio | 315.6k $17.6m | Added +199.2k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.06% of their portfolio | 303.5k $43.7m | Reduced -1.2k |
| W1M Asset Management Ltd 0.45% of their portfolio | 301.8k $43.5m | New |
| TWO SIGMA INVESTMENTS, LP 0.06% of their portfolio | 299.5k $43.1m | Added +279.9k |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 292.9k $42.2m | Reduced -3.8k |
| OFI INVEST ASSET MANAGEMENT 0.47% of their portfolio | 267.4k $32.9m | Added +145.9k |
| NATIXIS ADVISORS, LLC 0.05% of their portfolio | 266.0k $38.3m | Reduced -14.2k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.02% of their portfolio | 259.0k $37.3m | Unchanged |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.14% of their portfolio | 258.5k $37.2m | New |
| D. E. Shaw & Co., Inc. 0.03% of their portfolio | 255.7k $36.8m | Added +198.8k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.06% of their portfolio | 252.8k $36.4m | Reduced -8.2k |
| PARK NATIONAL CORP /OH/ 1.12% of their portfolio | 249.1k $35.9m | Added +7.5k |
| ATWOOD & PALMER INC 1.95% of their portfolio | 237.9k $34.3m | Added +6.1k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.20% of their portfolio | 237.1k $34.2m | Added +41.8k |
| Sterling Capital Management LLC 0.55% of their portfolio | 235.4k $33.9m | Reduced -124.3k |
| PANAGORA ASSET MANAGEMENT INC 0.12% of their portfolio | 233.9k $33.7m | Reduced -203.3k |
| AVIVA PLC 0.06% of their portfolio | 231.6k $33.4m | Added +10.7k |
| CLOUGH CAPITAL PARTNERS L P 3.00% of their portfolio | 231.3k $33.3m | Added +13.0k |
| PFA Pension, Forsikringsaktieselskab 0.09% of their portfolio | 228.5k $33.3m | First filing |