Berkshire Hathaway has increased its stake in major U.S. homebuilder Lennar, raising its holding to 10.9%. According to filings submitted to the U.S. Securities and Exchange Commission, the company bought $212.4 million worth of shares over the three trading days from September 17 to 21, and $136.4 million worth over the three trading days from September 23 to 25, for a total investment of about $300 million. As of September 25, it held 25.9 million shares valued at about $2.1 billion, a 93% increase from 13.4 million shares as of June 30. The purchases began the day after Lennar announced its third-quarter 2026 earnings on September 16. In that report, revenue fell 8.6% year on year to $8.05 billion, while net income came in at $284 million, roughly half the $591 million of a year earlier, and the gross margin on home sales slipped from 17.5% to 15.8%. Behind this is the rise in U.S. mortgage rates: the average 30-year fixed rate in the third week of September, as published by the Mortgage Bankers Association, stood at 7.12%, the highest level in about two years since May 2024.
Berkshire Hathaway IncBerkshire bought about $300 million of Lennar shares, raising its stake to 10.9%.
Lennar CorporationBerkshire's increased stake signals confidence despite Lennar's weak Q3 earnings and margin decline.
