LENNAR CORP LEN
CL A · Common Stock · CUSIP 526057104 · ISIN US5260571048
American home construction and real estate company
- SectorIndustrials
- IndustryGeneral Bldg Contractors - Residential Bldgs
- HeadquartersMiami, FL
- Founded1954
- Websitelennar.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 ($57.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $102.87. Options: 30 managers hold calls ($398.3m notional), 34 hold puts ($350.4m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 704 |
| Q4 2022 | 764 |
| Q1 2023 | 789 |
| Q2 2023 | 865 |
| Q3 2023 | 876 |
| Q4 2023 | 951 |
| Q1 2024 | 1,022 |
| Q2 2024 | 983 |
| Q3 2024 | 1,055 |
| Q4 2024 | 1,022 |
| Q1 2025 | 969 |
| Q2 2025 | 941 |
| Q3 2025 | 983 |
| Q4 2025 | 967 |
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 | 480 | 445 |
| Q2 2024 | 495 | 445 |
| Q3 2024 | 508 | 466 |
| Q4 2024 | 444 | 543 |
| Q1 2025 | 487 | 507 |
| Q2 2025 | 455 | 474 |
| Q3 2025 | 501 | 430 |
| Q4 2025 | 363 | 563 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $646.0m | $584.4m | 0.90 |
| Q2 2025 | $495.4m | $604.1m | 1.22 |
| Q3 2025 | $711.2m | $697.6m | 0.98 |
| Q4 2025 | $398.3m | $350.4m | 0.88 |
Biggest buyers
| EAGLE CAPITAL MANAGEMENT LLC | Added | +1.5m |
| TWO SIGMA INVESTMENTS, LP | Added | +1.3m |
| JANE STREET GROUP, LLC | Added | +1.2m |
| D. E. Shaw & Co., Inc. | Added | +955.7k |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. | Added | +934.9k |
| Freestone Grove Partners LP | New | +933.3k |
| RENAISSANCE TECHNOLOGIES LLC | New | +504.6k |
| TWO SIGMA ADVISERS, LP | Added | +461.8k |
| BANK OF NOVA SCOTIA | Added | +455.2k |
| GREENHAVEN ASSOCIATES INC | Added | +440.8k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -8.4m |
| BlackRock, Inc. | Reduced | -3.1m |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Reduced | -3.0m |
| FMR LLC | Reduced | -2.8m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -1.2m |
| VANGUARD GROUP INC | Reduced | -1.2m |
| EMINENCE CAPITAL, LP | Sold out | -993.2k |
| GOLDMAN SACHS GROUP INC | Reduced | -956.5k |
| MORGAN STANLEY | Reduced | -586.7k |
| Clearbridge Investments, LLC | Reduced | -580.8k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $110.3m1.1m shares |
| CITADEL ADVISORS LLC | Reduced | $65.3m635.5k shares |
| IMC-Chicago, LLC | Reduced | $32.8m319.0k shares |
| JANE STREET GROUP, LLC | Reduced | $25.7m250.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $22.1m214.7k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $17.8m173.2k shares |
| GROUP ONE TRADING LLC | Reduced | $17.8m173.0k shares |
| Point72 Asset Management, L.P. | Added | $12.4m120.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $10.8m155.5k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Reduced | $10.6m102.7k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $134.3m1.3m shares |
| CITADEL ADVISORS LLC | Reduced | $43.6m424.2k shares |
| JANE STREET GROUP, LLC | Reduced | $26.3m256.1k shares |
| ADAPT Investment Managers SA | Unchanged | $20.6m200.0k shares |
| IMC-Chicago, LLC | Reduced | $17.2m167.7k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $15.5m150.8k shares |
| Walleye Capital LLC | Reduced | $10.1m98.4k shares |
| Walleye Trading LLC | Reduced | $9.1m112.5k shares |
| Point72 Asset Management, L.P. | Added | $8.5m83.1k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $7.5m72.7k 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 |
|---|---|
| BERKSHIRE HATHAWAY INC 13G · institution +6.3 pts · filed 2026-10-07 | 12.5% |
| BlackRock, Inc. 13G · institution -1.2 pts · filed 2026-01-21 | 7.6% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 6.9% |
| GREENHAVEN ASSOCIATES INC 13G · institution new · filed 2026-05-04 | 5.1% |
| EAGLE CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-05-15 | 5.0% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; 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 | — | 0 | — | — |
| Q2 2024 | 1 | $247.3k | 2 | $4.8m | $3.3m |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 1 | $3.1m | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.04% of their portfolio | 24.5m $2.5bn | Reduced -1.2m |
| BlackRock, Inc. 0.03% of their portfolio | 18.1m $1.9bn | Reduced -3.1m |
| EAGLE CAPITAL MANAGEMENT LLC 3.52% of their portfolio | 11.0m $1.1bn | Added +1.5m |
| STATE STREET CORP 0.03% of their portfolio | 10.1m $1.0bn | Reduced -399.1k |
| GREENHAVEN ASSOCIATES INC 16.82% of their portfolio | 10.1m $1.0bn | Added +440.8k |
| Aristotle Capital Management, LLC 1.80% of their portfolio | 8.7m $897.0m | Reduced -416.6k |
| Berkshire Hathaway Inc 0.26% of their portfolio | 7.1m $724.8m | Unchanged |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.51% of their portfolio | 6.1m $626.0m | Reduced -457.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 5.6m $575.7m | Reduced -315.7k |
| MORGAN STANLEY 0.02% of their portfolio | 3.8m $386.8m | Reduced -586.7k |
| PRINCIPAL FINANCIAL GROUP INC 0.18% of their portfolio | 3.4m $348.8m | Reduced -101.2k |
| Capital World Investors 0.05% of their portfolio | 3.3m $335.5m | Added +5.1k |
| ACR Alpine Capital Research, LLC 5.15% of their portfolio | 3.2m $330.5m | Added +335.0k |
| FMR LLC 0.02% of their portfolio | 3.2m $330.2m | Reduced -2.8m |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 2.9m $300.0m | Reduced -8.4m |
| NORTHERN TRUST CORP 0.04% of their portfolio | 2.7m $278.2m | Added +357.1k |
| NORGES BANK 0.03% of their portfolio | 2.6m $269.7m | Not comparable |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 2.5m $256.6m | Reduced -448.5k |
| Brave Warrior Advisors, LLC 5.81% of their portfolio | 2.4m $247.9m | Added +405.9k |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 2.3m $234.8m | Reduced -202.8k |
| JANUS HENDERSON GROUP PLC 0.10% of their portfolio | 2.1m $218.7m | Added +228.2k |
| Invesco Ltd. 0.02% of their portfolio | 2.1m $217.8m | Added +107.4k |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 1.73% of their portfolio | 2.0m $201.8m | Added +934.9k |
| Smead Capital Management, Inc. 3.89% of their portfolio | 1.8m $187.3m | Reduced -126.6k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 1.7m $177.3m | Reduced -956.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 1.7m $176.9m | Added +2.6k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.58% of their portfolio | 1.7m $173.4m | Reduced -3.0m |
| FIRST TRUST ADVISORS LP 0.13% of their portfolio | 1.7m $173.3m | Reduced -399.7k |
| TWO SIGMA INVESTMENTS, LP 0.24% of their portfolio | 1.5m $157.9m | Added +1.3m |
| JANE STREET GROUP, LLC 0.18% of their portfolio | 1.5m $153.3m | Added +1.2m |
| Legal & General Group Plc 0.03% of their portfolio | 1.3m $131.5m | Reduced -67.0k |
| NEUBERGER BERMAN GROUP LLC 0.10% of their portfolio | 1.3m $131.1m | Reduced -527.4k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 1.3m $129.3m | Reduced -298.7k |
| Squarepoint Ops LLC 0.26% of their portfolio | 1.3m $128.9m | Added +288.0k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.07% of their portfolio | 1.1m $113.2m | Reduced -157.1k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.1m $110.1m | Reduced -112.9k |
| UBS Group AG 0.02% of their portfolio | 1.0m $105.3m | Added +45.1k |
| D. E. Shaw & Co., Inc. 0.08% of their portfolio | 980.9k $100.8m | Added +955.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 941.2k $96.8m | Reduced -33.7k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 936.0k $96.3m | Added +391.0k |
| Freestone Grove Partners LP 0.69% of their portfolio | 933.3k $95.9m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio | 893.9k $91.9m | Reduced -260.9k |
| MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio | 802.8k $82.5m | Reduced -2.5k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 768.6k $79.0m | Reduced -202.1k |
| Nuveen, LLC 0.02% of their portfolio | 682.6k $70.2m | Reduced -45.2k |
| TWO SIGMA ADVISERS, LP 0.14% of their portfolio | 676.7k $69.6m | Added +461.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio | 661.0k $68.0m | Reduced -12.9k |
| BARCLAYS PLC 0.03% of their portfolio | 630.5k $64.8m | Reduced -108.5k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 620.4k $63.8m | Reduced -25.3k |
| Amundi 0.02% of their portfolio | 612.6k $63.0m | Added +234.5k |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 595.2k $61.2m | Added +262.5k |
| SEI INVESTMENTS CO 0.06% of their portfolio | 594.7k $61.1m | Reduced -27.5k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.08% of their portfolio | 593.0k $61.0m | Added +369.4k |
| Swiss National Bank 0.04% of their portfolio | 574.0k $59.0m | Reduced -82.1k |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 572.3k $58.8m | Reduced -62.1k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.69% of their portfolio | 542.2k $55.7m | Added +88.7k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 504.7k $51.9m | Added +104.0k |
| RENAISSANCE TECHNOLOGIES LLC 0.08% of their portfolio | 504.6k $51.9m | New |
| BANK OF NOVA SCOTIA 0.07% of their portfolio | 490.1k $50.4m | Added +455.2k |
| River Road Asset Management, LLC 0.52% of their portfolio | 461.7k $47.5m | Added +43.2k |
| CITIGROUP INC 0.03% of their portfolio | 450.7k $46.3m | Added +91.5k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 450.3k $46.3m | Reduced -23.9k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.03% of their portfolio | 448.7k $46.8m | Reduced -17.4k |
| National Pension Service 0.03% of their portfolio | 445.4k $45.8m | Added +19.9k |
| Prana Capital Management, LP 1.61% of their portfolio | 432.1k $44.4m | Added +39.1k |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 428.7k $44.1m | Reduced -67.4k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 372.3k $38.3m | Reduced -30.2k |
| Qube Research & Technologies Ltd 0.05% of their portfolio | 371.1k $38.1m | New |
| Rafferty Asset Management, LLC 0.13% of their portfolio | 370.3k $38.1m | Added +6.4k |
| Clearbridge Investments, LLC 0.03% of their portfolio | 363.0k $37.3m | Reduced -580.8k |
| ASSETMARK, INC 0.07% of their portfolio | 346.7k $35.6m | Reduced -10.3k |
| TUDOR INVESTMENT CORP ET AL 0.19% of their portfolio | 345.4k $35.5m | New |
| ANTIPODES PARTNERS Ltd 0.72% of their portfolio | 335.0k $34.4m | Added +28.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 334.7k $34.4m | Reduced -45.2k |
| TCW GROUP INC 0.24% of their portfolio | 332.7k $34.2m | Reduced -373.2k |
| Connor, Clark & Lunn Investment Management Ltd. 0.09% of their portfolio | 329.8k $33.9m | Added +164.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 327.3k $33.6m | Reduced -16.8k |
| California Public Employees Retirement System 0.02% of their portfolio | 306.3k $31.5m | Reduced -272.7k |
| BERKSHIRE ASSET MANAGEMENT LLC/PA 1.36% of their portfolio | 302.5k $31.1m | Reduced -1.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio | 287.8k $29.6m | Added +44.8k |
| Caisse de depot et placement du Quebec 0.05% of their portfolio | 285.1k $29.3m | Reduced -270.2k |
| AE Wealth Management LLC 0.16% of their portfolio | 278.2k $28.6m | Added +261.3k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 275.9k $28.4m | Added +138.5k |
| Pictet Asset Management Holding SA 0.03% of their portfolio | 273.8k $28.2m | Added +34.2k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 263.5k $27.1m | Reduced -120.1k |
| SALEM INVESTMENT COUNSELORS INC 0.76% of their portfolio | 262.0k $26.9m | Reduced -4.1k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 251.4k $25.8m | Reduced -32.9k |
| TRUIST FINANCIAL CORP 0.03% of their portfolio | 249.7k $25.7m | Reduced -4.1k |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 241.9k $24.9m | Reduced -268.5k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.06% of their portfolio | 239.2k $24.6m | Added +14.0k |
| CAPITAL FUND MANAGEMENT S.A. 0.23% of their portfolio | 238.1k $24.5m | New |
| Quantinno Capital Management LP 0.05% of their portfolio | 230.5k $23.7m | Added +18.0k |
| Pacific Heights Asset Management LLC 0.87% of their portfolio | 225.0k $23.1m | Added +50.0k |
| SAPIENT CAPITAL LLC 0.33% of their portfolio | 224.6k $23.3m | Reduced -208 |
| Cannell & Spears LLC 0.43% of their portfolio | 222.2k $22.8m | Reduced -3.0k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.16% of their portfolio | 210.8k $21.7m | Reduced -63.4k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 206.8k $21.3m | Reduced -5.1k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.05% of their portfolio | 206.3k $21.2m | Added +48.3k |
| MARSHALL WACE, LLP 0.02% of their portfolio | 205.8k $21.2m | Added +68.1k |
| Vest Financial, LLC 0.27% of their portfolio | 204.2k $21.0m | Reduced -54.1k |