How Lennar began
Lennar Corporation (LEN) was founded in 1954 by Gene Fisher and Arnold Rosen in Miami, Florida. In 1956, Leonard Miller replaced Fisher in the partnership by investing $10,000. The company went public and listed on the New York Stock Exchange in 1972. Lennar (LEN) is also a fortune 500 company with a rank of 431 in 2014.
Lennar Corporation (LEN) shares outstanding stood at 205 million as of November 2014. The Vanguard Group has the largest stake in the company with 7.27% holding followed by Wellington Management Company LLP at 7.14%.
The above chart shows the top five fund ownerships in Lennar. Vanguard Windsor Inv (VWNDX) owns 2.53% in the stock followed by homebuilder ETFs iShares US Home Construction (ITB) with 2.25% and Vanguard Mid Cap Index (VMCIX) with 1.51%.
Bird’s eye view
In this series, you’ll get an important overview of Lennar’s business. We’ll begin by taking a closer look at Lennar’s homebuilding operations, which is its largest business, and move on to Lennar’s strategy to remain competitive in the market.
We’ll then look at Lennar’s financial performance on various metrics and valuations. We’ll cover ETFs such as the SPDR S&P Homebuilders ETF (XHB) and the iShares Dow Jones U.S. Home Construction Index Fund (ITB). You can invest in these funds to gain exposure to Lennar’s shares.