LEN at a glance
Lennar (LEN, SEC CIK 920760) filed its latest 10-K annual report on January 28, 2026, a 10-Q quarterly report on October 2, 2026, an 8-K current report on September 16, 2026 and Form 4 insider filings as recently as October 5, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended November 30, 2025 (FY2025), Lennar (LEN) reported revenue of $34.2 billion (down 3.5% from FY2024) and net income of $2.1 billion. Diluted EPS was $7.98.
- As of June 30, 2026, 40 institutional investment managers tracked by SignalX reported holding Lennar (LEN) shares worth $9.1 billion in 13F-HR filings.
- The most recent insider open-market purchase reported on Form 4 was by BERKSHIRE HATHAWAY INC on October 2, 2026 of 2,452 shares at $77.93 per share.
- In the last 90 days, LEN insiders reported 45 open-market purchases ($595.3M) and 0 open-market sales ($0) on Form 4, a net purchase of $595.3M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $34.2B
- −3.5% vs prior year
- Insiders · 90 days
- 45 buys · 0 sells
- Net +$595.3M
- 13F holders
- 40 funds
- $9.1B · +1 vs prior quarter
- Latest 8-K
- Sep 16, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Nov 30, 2025
Management Discussion & Analysis
- Revenue $34.2B in 2025, down 3.6% YoY from $35.4B in 2024; home sales revenue down 5% to $32.1B from $33.8B
- Homebuilding gross margin 17.7% in 2025 vs 22.3% in 2024; operating earnings $3.0B vs $5.3B prior year
- Best performing segment Financial Services: operating earnings $609.9M up from $574.2M; Worst Multifamily: loss of $75.0M vs $43.0M earnings in 2024
- Net earnings $2.1B or $7.98/share in 2025 vs $3.9B or $14.31/share in 2024; tax rate rose to 25.3% from 23.6%
- Q1 2026 margin guidance 15-16%; expected home deliveries 18k-19k at average price $365k-$375k; full year 2026 deliveries approx. 85k homes
- Cost reductions and technology initiatives highlighted to improve margins and returns when market normalizes
- Increased sales incentives to buyers: average $62.7k/home in 2025 vs $48.8k in 2024 (13.8% vs 10.3% of revenue)
- Capital allocation details limited; referenced reduction in inventory and cycle times, plus One Big Beautiful Bill Act tax evaluation ongoing
Business Overview
- Core business model: U.S.-based homebuilding, mortgage origination, title services, multifamily rental development, fund sponsorship and technology investments
- New emphasis on multifamily and single-family rental property fund sponsorship and management
- Strategic focus on urban divisions and homebuilding investments in California, including FivePoint Holdings, LLC
- Homebuilding revenue $32 billion in fiscal 2025, comprising approximately 94% of consolidated revenues
- Geographic expansion across four major U.S. regions with divisions in 24 states
Risk Factors
- Key-person risk from interim CTO appointed May 2025 after prior CTO retirement, responsible for cybersecurity risk management
- Cybersecurity risk oversight by Audit Committee, with CTO reports at least quarterly including incident response plans
- Established cross-functional Cyber Steering Committee involving CTO, CISO, General Counsel, and business leaders to manage cyber threats
AI summary of the LEN 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Aug 31, 2026
Risk Factors
- No material changes from risk factors disclosed in Lennar’s 2025 Form 10-K
- Carried-forward risks include housing-market, operational, regulatory, and financial uncertainties described elsewhere in the 10-Q
Management Discussion & Analysis
- Revenue $8.05B, down from $8.81B YoY; home sales revenue $7.7B vs $8.2B
- Gross margin 15.8% vs 17.5% YoY; SG&A margin 9.2% vs 8.2%
- Best segment East: operating earnings $199.9M vs $186.4M; worst Lennar Other: $83.6M loss vs $62.5M earnings
- Cash and restricted cash $1.5B vs $3.8B at November 30; operating cash used $822M year-to-date
- Outlook: fourth-quarter deliveries 22,000–23,000 homes, gross margin 15.5%–16.0%; headwinds from approximately 7% mortgage rates and constrained labor availability
AI summary of the LEN 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Lennar announced fiscal Q3 2026 results for the quarter ended August 31, 2026
- Full operating results are provided in Exhibit 99.1, the furnished earnings release
Item EX-99.1: Item EX-99.1
- Q3 net earnings fell to $284 million, or $1.19 per diluted share, from $591 million, or $2.29, amid weaker housing conditions
- New orders declined 9% to 20,879 homes, while backlog fell to 16,857 homes valued at $6.3 billion
Item 7.01: Regulation FD Disclosure
- Investor presentation posted June 12, 2026, expanding management’s materials for investor and shareholder discussions
- Exhibit 99.1 likely contains the substantive strategic, operating, or financial updates investors should review
Item EX-99.1: Item EX-99.1
- Asset-light shift: owned homesites fell from 72% to 2%, while controlled homesites rose from 28% to 98% between 2018 and Q1 2026
- Balance-sheet capital reduced: owned inventory plus deposits and ACORE declined from $16.6B to $10.5B
Item 2.02: Results of Operations and Financial Condition
- Lennar reported fiscal Q2 2026 results for the quarter ended May 31, 2026
- Press release furnished as Exhibit 99.1 contains the operational and financial results
Item EX-99.1: Item EX-99.1
- Q2 net earnings fell to $305 million, or $1.24 per diluted share, from $477 million, or $1.81, year over year
- Deliveries rose 2% to 20,519 homes, but average sales price declined 5% to $371,000, pressuring revenue and margins
AI summaries of LEN 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for LEN
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC | Buy | Oct 2, 2026 | 2,452 | $77.93 |
| BERKSHIRE HATHAWAY INC | Buy | Oct 2, 2026 | 299 | $79.74 |
| BERKSHIRE HATHAWAY INC | Buy | Oct 2, 2026 | 842,753 | $80.04 |
| BERKSHIRE HATHAWAY INC | Buy | Oct 2, 2026 | 2,290 | $77.12 |
| BERKSHIRE HATHAWAY INC | Buy | Oct 2, 2026 | 5,135 | $78.77 |
| BERKSHIRE HATHAWAY INC | Buy | Oct 2, 2026 | 44,300 | $81.14 |
| BERKSHIRE HATHAWAY INC | Buy | Oct 2, 2026 | 448,113 | $78.37 |
| BERKSHIRE HATHAWAY INC | Buy | Oct 2, 2026 | 342,553 | $79.03 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $34.2B | $35.4B | $34.2B |
| Net Income | $3.9B | $3.9B | $2.1B |
| Net Margin | 11.5% | 11.1% | 6.1% |
| Balance Sheet | |||
| Total Assets | $39.2B | $41.3B | $34.4B |
| Equity | - | $27.9B | $22.0B |
| ROE | - | 14.1% | 9.5% |
| Per Share | |||
| EPS | $13.73 | $14.31 | $7.98 |
| Cash Flow | |||
| Operating CF | $5.2B | $2.4B | $216.8M |
| CapEx | $99.8M | $171.5M | $188.6M |
Source: XBRL data in Lennar (LEN)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate LEN share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 40 | $9.14B |
| Q1 2026 | 39 | $8.31B |
| Q4 2025 | 37 | $9.79B |
| Q3 2025 | 40 | $13.98B |
| Q2 2025 | 41 | $11.94B |
| Q1 2025 | 40 | $9.15B |
| Q4 2024 | 33 | $9.02B |
| Q3 2024 | 30 | $5.70B |
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- WESTWOOD HOLDINGS GROUP INC+2.6K
Source: 13F-HR filings on SEC EDGAR (aggregated from 300 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
LEN filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 5, 2026 | - | - | - |
| 10-Q | Oct 2, 2026 | Aug 31, 2026 | Analysis | |
| 4 | Sep 30, 2026 | - | - | - |
| 4 | Sep 25, 2026 | - | - | - |
| 4 | Sep 21, 2026 | - | - | - |
| 8-K | Sep 16, 2026 | - | Analysis | - |
| 4 | Sep 2, 2026 | - | - | - |
| 4 | Sep 2, 2026 | - | - | - |
| SC 13G | Aug 14, 2026 | - | - | |
| 13F-HR | Aug 13, 2026 | Jun 30, 2026 | - | |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 10-Q | Jun 29, 2026 | May 31, 2026 | Analysis | |
| 8-K | Jun 12, 2026 | - | Analysis | - |
| 8-K | Jun 11, 2026 | - | Analysis | - |
| 8-K | Jun 8, 2026 | - | Analysis | |
| 4 | Jun 2, 2026 | - | - | |
| 4 | Jun 2, 2026 | - | - | |
| SC 13G | May 15, 2026 | - | - |
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LEN SEC filings: frequently asked questions
Are LEN insiders buying or selling?
In the last 90 days, Lennar (LEN) officers, directors and 10% owners reported 45 open-market purchases worth $595.3 million by 1 insider and no open-market sales on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold LEN stock?
As of June 30, 2026, the largest Lennar (LEN) holders among the 13F filers tracked by SignalX were BlackRock ($1.7 billion), Berkshire Hathaway Inc ($1.2 billion), Vanguard Capital Management LLC ($1.2 billion), State Street Corp ($943.6 million), Vanguard Portfolio Management LLC ($863.9 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was LEN's revenue in fiscal year 2025?
For the fiscal year ended November 30, 2025 (FY2025), Lennar (LEN) reported revenue of $34.2 billion (down 3.5% from FY2024) and net income of $2.1 billion. Diluted EPS was $7.98. The figures come from the XBRL data in the 10-K.
What are the main risks in LEN's latest 10-K?
In the 10-K filed January 28, 2026, Lennar (LEN) flagged: Key-person risk from interim CTO appointed May 2025 after prior CTO retirement, responsible for cybersecurity risk management. Cybersecurity risk oversight by Audit Committee, with CTO reports at least quarterly including incident response plans. (AI summary of the Risk Factors section.)
What did LEN report in its latest 8-K?
Lennar (LEN) filed an 8-K on September 16, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Lennar announced fiscal Q3 2026 results for the quarter ended August 31, 2026.
What are the latest LEN SEC filings?
Lennar (LEN) filed its latest 10-K annual report on January 28, 2026, a 10-Q quarterly report on October 2, 2026, an 8-K current report on September 16, 2026 and a Form 4 insider filing on October 5, 2026.
What is LEN's SEC CIK number?
Lennar (LEN)'s SEC Central Index Key (CIK) is 920760. EDGAR lists every LEN filing under that number.
Ask anything about LEN
The research agent reads LEN's filings, financials, insider trades and 13F holders, then answers with sources.