Berkshire Hathaway purchased approximately $212.4 million of Lennar Corp. stock. The transactions occurred over three trading days from September 17 to September 21. Berkshire acquired nearly 2.74 million Class A and Class B shares.
The purchase boosts Berkshire’s total ownership in the homebuilder to over 10%. This status makes Berkshire a 10% beneficial owner under SEC rules. The firm must now disclose all future transactions.
The investment follows Lennar’s weaker-than-expected third-quarter earnings and a lowered delivery forecast. Lennar cited pressures from elevated mortgage rates for the revised outlook. Berkshire continues to expand its exposure to the U.S. housing sector despite these market challenges.