Greenhaven Associates 13F: Adds $142M to Lennar (LEN) Stake

Greenhaven Associates boosted its stake in Lennar Corporation (LEN) by 1,738,824 shares, increasing its total holdings to 13,055,103 shares valued at approximately $1.07 billion. This change was disclosed in a filing on October 26, 2026, with the SEC.

The increase represents a 15.4% rise in Greenhaven's position in Lennar, which is now its largest holding, making up 37.8% of the fund's total reported value of about $2.82 billion. Greenhaven's reported value in Lennar has also grown significantly, with the dollar value of its stake increasing by about $141.9 million.

LEN Lennar Corporation

$83.98 ▼ -17.62% year to date

1M 3M YTD

Daily close · Oct 26, 2026

Where Lennar Fits in Greenhaven Associates' Portfolio

Lennar is the top position in Greenhaven Associates' portfolio, ranking first among its 27 reported holdings.

Other Institutional Activity in Lennar

Berkshire Hathaway, Inc. also holds a significant position in Lennar, increasing its stake by 3,011,802 shares to a total of 13,111,741 shares valued at around $1.1 billion. Meanwhile, Aristotle Capital Management reduced its holdings by 379,873 shares, ending with 8,346,077 shares worth about $755.2 million. Eagle Capital Management LLC also trimmed its position by 193,676 shares.

Lennar Corporation Stock Down 1.1%

Lennar's shares closed at $83.98 on October 26, 2026, and recently traded around the same price, which is about equal to its closing price on the filing date. The stock is currently above its 50-day moving average by 3.5% but below its 200-day average by 8.7%. Additionally, it's trading 37.2% below its 52-week high of $133.76, while still being 17.0% above its 52-week low of $71.78.

Recent Earnings

Lennar reported trailing twelve-month revenue of approximately $31.97 billion, but it faced an 8.7% decline in revenue growth year-over-year. The company has an EPS of 5.22 and a net margin of 4.1%. The next earnings report is expected on December 15, 2026.

Dividend

Lennar pays an annual dividend of $2.00 per share, yielding about 2.38%. The dividend payout ratio stands at 37.9%, indicating a balanced approach to returning value to shareholders while retaining capital for growth.

Insider Buying and Selling at Lennar Corporation

Berkshire Hathaway has been active in buying Lennar shares, acquiring a total of 2,668,508 shares on September 21, 2026, and 656,302 shares on September 30, 2026. Additionally, they bought another 2,403,609 shares on October 2, 2026. These transactions reflect confidence in Lennar's long-term prospects.

Analysts Set New Price Targets

On September 21, 2026, Citigroup maintained a Neutral rating on Lennar with a price target of $85.00, while Keefe, Bruyette & Woods maintained an Underperform rating with a target of $75.00. Morgan Stanley initiated coverage with an Underweight rating and a target of $65.00 on October 1, 2026. The overall consensus among analysts is to underperform with a mean target price of $77.73 based on 15 analyst opinions.

About Lennar Corporation

Lennar Corporation is a major homebuilder in the United States, operating through various segments including homebuilding and financial services. The company is headquartered in Miami, Florida, and employs over 12,500 people. Its focus on residential construction has made it a key player in the consumer cyclical sector, particularly as housing demand fluctuates.

Bottom Line

Investors should keep an eye on Lennar's upcoming earnings report on December 15, 2026, and any further filings from Greenhaven Associates regarding their investment strategy. The ongoing challenges in the housing market will be crucial in shaping Lennar's performance in the coming quarters.