Berkshire Raises Lennar Stake Above 11% as Builder Trades Below Book Value

Insider Monkey·7 Oct 2026·

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Analyst Corporate Action Household Durables

LEN ▲

BRK-B ▲

Summary · why it matters

Berkshire Hathaway has lifted its stake in Lennar Corporation above 11% of the company, a position worth roughly $2.2 billion, as the homebuilder trades below its own book value. Lennar traded at around $77 on October 6, up 3.77% on the day and 39.05% lower over twelve months, against a book value of $90.68 a share, or 0.85 times book. The company's balance sheet is mostly land and finished houses carried at what Lennar paid, and a current ratio of 10.13 and debt-to-equity of 28.20% give it room to hold that inventory rather than sell it cheaply. The income statement is why the stock sits where it does: revenue fell 8.70% in the most recent quarter and earnings fell 52.00%, leaving a net margin of 4.09%, while 10.24% of the float is sold short. Lennar is worth $18.38 billion, trades at 15.06 times trailing earnings and 14.72 times forward earnings, and carries $6.12 billion of debt, with enterprise value to EBITDA of 11.48.

Lennar Corporation ▲

Berkshire Hathaway Inc ▲