Lennar

LEN and LEN.B • NYSE

Lennar is a residential construction company in the consumer cyclical sector on NYSE, led by Stuart Miller, with a market cap of $29.5B. As of Q3 2025, 85% of shares are held by 974 institutional investors, with VANGUARD GROUP INC as the largest holder at 10.5%.

Co-Chief Executive OfficerStuart Miller

Market Cap$29.5B

Residential Construction

Consumer Cyclical

Employees12.3K

Websitelennar.com

Country

United States of America

Overview

Overview of institutional ownership in LEN and LEN.B as of Q3 2025 with a market cap of $32.6B

All Institutions

Institutions: 974
Value Held: $27.9B
Shares Held: 221.3M
Avg Position: $23.4M
Median Position: $685.8K

Hedge Funds

Hedge Funds: 68
Value Held: $1.4B
Shares Held: 11.0M
Avg Position: $17.3M
Median Position: $2.7M

Ownership Breakdown

Institutional (non-HF)

81.13%

$26.5B

Hedge Funds

4.23%

$1.4B

Retail & Other

14.64%

$4.8B

Based on market cap of $32.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in LEN and LEN.B as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$3.4B 0.05% of portfolio	10.50% 27.2M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$2.7B 0.05% of portfolio	8.31% 21.5M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.3B 0.05% of portfolio	4.08% 10.6M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
G GREENHAVEN ASSOCIATES INC Long Only Manager	Edgar Wachenheim Chairman	$1.3B 23.84% of portfolio	3.87% 10.0M shares	Q4 2015 Held for 9y 11m	$5.3B
EAGLE CAPITAL MANAGEMENT LLC Long Only Manager	Michael I Falcon CEO	$1.2B 3.79% of portfolio	3.65% 9.5M shares	Q1 2025 Held for 8 months	$31.4B
Aristotle Capital Management, LLC Long Only Manager	Howard Roy Gleicher CEO	$1.2B 2.45% of portfolio	3.56% 9.2M shares	≤ Q2 2013 Held for 12y 5m+	$47.4B
BERKSHIRE HATHAWAY INC Institution	Warren E. Buffett CEO	$910.4M 0.34% of portfolio	2.79% 7.2M shares	Q2 2023 Held for 2y 5m	$267.33B
M MANUFACTURERES LIFE INSURANCE CO Institution	-	$825.2M 0.69% of portfolio	2.53% 6.5M shares	≤ Q2 2013 Held for 12y 5m+	$120.17B
FMR LLC Institution	-	$765.0M 0.04% of portfolio	2.35% 6.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.92T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$761.1M 0.05% of portfolio	2.34% 6.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T

Net Capital Flow

Institutional buying and selling activity for LEN and LEN.B in Q3 2025

Traded: −$757.8M
Buyers: 520
Sellers: 414
Total Bought: +$1.8B
Total Sold: −$2.6B
Avg Position: $26.0M

Biggest Buyers

Institution	Net Bought	Current Position
HENDERSON GROUP PLC Institution	+$234.0M +1.9M shares	$239.3M 1.9M shares
FMR LLC Institution	+$160.5M +1.3M shares	$765.0M 6.1M shares
MORGAN STANLEY RIA/Wealth	+$80.3M +636.9K shares	$568.5M 4.5M shares
H HRT FINANCIAL LLC Institution	+$79.2M +628.6K shares	$79.2M 628.6K shares
BARROW HANLEY MEWHINNEY & STRAUSS LLC Long Only Manager	+$76.0M +603.0K shares	$596.5M 4.7M shares
Clearbridge Investments, LLC Long Only Manager	+$70.0M +555.5K shares	$119.0M 943.8K shares
JPMORGAN CHASE & CO Institution	+$67.0M +531.1K shares	$713.5M 5.7M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$64.3M +510.4K shares	$102.6M 814.5K shares
EAGLE CAPITAL MANAGEMENT LLC Long Only Manager	+$52.7M +418.4K shares	$1.2B 9.5M shares
WELLS FARGO & COMPANY/MN Institution	+$49.4M +391.7K shares	$199.1M 1.6M shares

Biggest Sellers

Institution	Net Sold	Current Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	−$425.0M −3.8M shares	Sold Off 0 shares
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	−$279.1M −2.5M shares	Sold Off 0 shares
Q Qube Research & Technologies Ltd Institution	−$168.4M −1.5M shares	Sold Off 0 shares
VANGUARD GROUP INC Institution	−$161.9M −1.3M shares	$3.4B 27.2M shares
Aristotle Capital Management, LLC Long Only Manager	−$68.7M −545.3K shares	$1.2B 9.2M shares
E EMINENCE CAPITAL LLC Hedge Fund•Long/Short	−$59.8M −474.6K shares	$125.2M 993.2K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$58.0M −524.1K shares	$1.6M 13.6K shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	−$56.3M −446.6K shares	$44.0M 349.1K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	−$50.0M −450.9K shares	$3.2M 26.8K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$47.2M −374.1K shares	$27.1M 215.0K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited LEN and LEN.B in Q3 2025

New Positions: 61
New Value: $59.8M
Exited Positions: 97
Exited Value: $1.1B

New Positions

Institution	Position Value
Slate Path Capital LP Hedge Fund•Long/Short	$15.6M 124.1K shares
L LINCLUDEN MANAGEMENT LTD Institution	$8.3M 66.1K shares
B Baypointe Partners LLC Hedge Fund•Long/Short	$3.8M 30.0K shares
CUTLER INVESTMENT COUNSEL LLC RIA/Wealth	$3.4M 26.7K shares
Palumbo Wealth Management LLC RIA/Wealth	$2.6M 20.7K shares
P Prescott General Partners LLC Hedge Fund•Value	$2.5M 20.0K shares
United Asset Strategies, Inc. RIA/Wealth	$2.3M 18.6K shares
SANDERS MORRIS HARRIS INC. Long Only Manager	$2.2M 17.5K shares
Capital Advisory Group Advisory Services, LLC RIA/Wealth	$2.0M 15.9K shares
C Cadent Capital Advisors, LLC RIA/Wealth	$1.7M 13.4K shares

Exited Positions

Institution	Previous Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	$425.0M 3.8M shares
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	$279.1M 2.5M shares
Q Qube Research & Technologies Ltd Institution	$168.4M 1.5M shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$44.8M 405.1K shares
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$30.3M 274.1K shares
Bridgewater Associates, LP Hedge Fund•Global Macro	$26.4M 238.7K shares
M Migdal Insurance & Financial Holdings Ltd. Institution	$25.4M 230.0K shares
C Capitolis Liquid Global Markets LLC Private Equity	$15.5M 140.3K shares
Luxor Capital Group, LP Hedge Fund•Multi-Strategy	$11.0M 99.0K shares
P PineBridge Investments Ltd Institution	$8.1M 73.7K shares

Options Activity

Institutions with the largest Call and Put options positions in LEN and LEN.B as of Q3 2025

Call Positions: 35
Call Value: $546.2M
Put Positions: 35
Put Value: $602.8M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$205.7M 16.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$83.0M 6.6K contracts
J JANE STREET GROUP, LLC Institution	$59.4M 4.7K contracts
W WOLVERINE TRADING, LLC Institution	$33.3M 2.6K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$27.8M 2.2K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$20.6M 1.6K contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$17.5M 1.4K contracts
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	$13.4M 1.1K contracts
W Waratah Capital Advisors Ltd. Hedge Fund•Multi-Strategy	$12.6M 1.0K contracts
A ADAPT Investment Managers SA Institution	$12.6M 1.0K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$176.8M 14.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$102.9M 8.2K contracts
J JANE STREET GROUP, LLC Institution	$71.5M 5.7K contracts
WELLS FARGO & COMPANY/MN Institution	$29.7M 2.4K contracts
A ADAPT Investment Managers SA Institution	$25.2M 2.0K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$23.5M 1.9K contracts
W WOLVERINE TRADING, LLC Institution	$18.4M 1.4K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$16.1M 1.3K contracts
Walleye Trading LLC RIA/Wealth	$14.1M 1.4K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$13.4M 1.1K contracts

Most Committed Institutions

Institutions with LEN and LEN.B as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
G GREENHAVEN ASSOCIATES INC Long Only Manager	Edgar Wachenheim Chairman	23.84% $1.3B	3.87% 10.0M shares	Q4 2015 Held for 9y 11m	$5.3B
Argosy-Lionbridge Management, LLC Hedge Fund•Long/Short	David John Butler CEO	12.88% $19.6M	0.06% 155.4K shares	Q1 2025 Held for 8 months	$152.0M
Carmel Capital Partners, LLC Hedge Fund•Value	Russell Gavin Silberstein Managing Partner	6.51% $15.6M	0.05% 125.0K shares	Q4 2021 Held for 3y 11m	$239.6M
O Oakcliff Capital Partners, LP Hedge Fund•Value	Bryan Ross Lawrence Managing Partner	6.42% $14.9M	0.05% 118.0K shares	Q1 2025 Held for 8 months	$231.7M
Alpine Investment Management, LLC Long Only Manager	Nicholas Virgil Tompras CEO	6.26% $366.5M	1.12% 2.9M shares	Q4 2019 Held for 5y 11m	$5.9B
B Brave Warrior Advisors, LLC Hedge Fund•Long/Short	Donna M. Martel-Downing CCO	5.63% $252.8M	0.77% 2.0M shares	Q1 2022 Held for 3y 8m	$4.5B
M MONTGOMERY INVESTMENT MANAGEMENT INC RIA/Wealth	Calvin Scott Koonce Chairman	5.37% $15.3M	0.05% 124.4K shares	Q1 2018 Held for 7y 8m	$285.8M
GoodHaven Capital Management, LLC Hedge Fund•Value	Larry Steven Pitkowsky Managing Partner	5.36% $16.6M	0.05% 138.7K shares	Q4 2019 Held for 5y 11m	$310.6M
Smead Capital Management, Inc. Long Only Manager	Cole W. Smead CEO	4.75% $245.6M	0.75% 1.9M shares	Q3 2016 Held for 9y 2m	$5.2B
A Asset Management Advisors, LLC Family Office	Laura Ann Roy Managing Partner	4.21% $6.9M	0.02% 55.0K shares	Q2 2016 Held for 9y 5m	$164.8M

Hedge Fund Spotlight

Discover hedge funds investing in LEN and LEN.B

ARMISTICE CAPITAL, LLC

Hedge Fund • Long/Short

Portfolio ManagerSteven Joseph Boyd

Portfolio Value: $3.2B
Positions: 313
Last Reported: Q3 2025

Sector Allocation

Position in Lennar

LEN and LEN.B

Market Value: $32.5M
Shares Held: 238.0K
Portfolio Weight: 0.99%
Owned Since: 2024-Q1

Top Holding	Sector	Market Value	Weight
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2 Travere Therapeutics, Inc. TVTX	Biotechnology Healthcare	$160.7M	5.10%
3 Supernus Pharmaceuticals SUPN	Drug Manufacturers - Specialty & Generic Healthcare	$135.5M	4.30%