Berkshire buys more Lennar shares, but pace of purchases slows
Berkshire Hathaway has increased its stake in homebuilder Lennar to 11.2%, though the pace of its share purchases has slowed significantly. The investment reflects a long-term bet on the recovery of the U.S. housing market.
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Warren Buffett's investment moves are closely watched as indicators of market sentiment and long-term economic strategy.
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Berkshire Hathaway added to its bet on Lennar this week, raising its stake in the homebuilder to 11.2%, although the pace of its buying appears to be slowing.
In an SEC filing late Wednesday , Berkshire disclosed it bought a total of $53.6 million of Lennar's Class A shares and another $329,000 of the super-voting B shares on Monday, Tuesday, and Wednesday.
That puts the position at a total of 26.6 million shares valued at $2.1 billion based on Friday's closing prices .
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