Berkshire Buys $192.6 Million in Lennar Shares

Berkshire Hathaway bought about 2.4 million additional shares of Lennar for approximately $192.6 million on October 1 and 2, according to a regulatory filing, as the homebuilder faced questions raised by an investigation into its relationship with Millrose Properties and reported quarterly results below analyst expectations. The purchases included Lennar Class A and Class B shares. After the transactions, Berkshire held about 28.43 million Class A shares and 568,028 Class B shares, the filing showed. Accounts of Berkshire’s resulting ownership differ: some describe the position as about 11% of Lennar, while another puts it at roughly 12%. The supplied information does not explain the difference. Hunterbrook, an investment research firm, alleged that Millrose bought more than 700 Lennar homes across at least 51 counties in 15 states for an estimated $200 million or more over roughly a month. Its report questioned whether the transactions obscured underlying demand for Lennar homes. The reported purchase total and interpretation rely on Hunterbrook’s account; the information available does not independently establish the transactions or show that they were improper.