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As of February 11, 2026, Lennar’s 2026 proxy statement identified Stuart Miller as the largest disclosed Class B beneficial owner, with 21,851,560 shares, or 70.2% of that class. That does not mean he owned 70.2% of Lennar overall: the figure is class-specific, and Lennar’s two common-stock classes carry different voting rights. The proxy is a dated disclosure, not a live shareholder register.
Who are Lennar’s largest disclosed shareholders?
Lennar’s 2026 proxy statement lists the following holders known to the company as beneficial owners of more than 5% of either common-stock class. The share counts and class percentages below are as of February 11, 2026; each percentage uses the outstanding shares of the named class as its denominator.
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| Holder | Class | Shares | Share of that class | Measurement date |
|---|---|---|---|---|
| Stuart Miller | Class B | 21,851,560 | 70.2% | February 11, 2026 |
| GAMCO Investors, Inc. | Class B | 1,724,170 | 5.5% | February 11, 2026 |
| The Vanguard Group | Class A | 27,368,807 | 12.6% | February 11, 2026 |
| BlackRock, Inc. | Class A | 16,936,080 | 7.8% | February 11, 2026 |
These are not percentages of all Lennar shares. The table is also thresholded: it identifies holders above 5% of either class that Lennar knew to be beneficial owners, rather than listing every shareholder. See Lennar’s 2026 proxy statement and SEC filings for the disclosure and its footnotes.
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Why a large shareholding does not tell the whole ownership story
Class A and Class B have different voting rights
Lennar’s proxy states: “Each outstanding share of Class A common stock entitles the holder to one vote and each outstanding share of Class B common stock entitles the holder to ten votes.” A Class B share therefore carries ten times the votes of a Class A share. The proxy reports that Miller could cast 220,911,062 votes, or 41.9% of combined votes, as of February 11, 2026.
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That voting-power figure is distinct from the 70.2% figure: the latter is Miller’s share of Class B, while the former is his reported portion of combined votes. Neither should be described as his percentage of all Lennar shares or economic interest.
Beneficial ownership may differ from economic interest
Beneficial ownership disclosures can reflect voting or investment authority, not simply the amount of money a person stands to receive from shares. Lennar’s proxy says Miller is shown as beneficial owner of partnership-held shares because he has voting and dispositive power, although he has only a limited pecuniary interest in those shares. Read the footnotes before treating a beneficial-ownership number as an estimate of personal economic ownership.
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How to check a company’s major shareholders
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Find the latest issuer filings. Start at the company’s investor-relations site and locate its proxy statement and SEC filings. Lennar provides filings through its investor-relations filings page and a historical annual-report and proxy index.
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Locate the ownership table. Search the proxy for “Security Ownership of Principal Stockholders” or a similar heading. Record each holder, security class, share count, percentage, and the date on which ownership was measured.
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Check the denominator and footnotes. Confirm whether a percentage applies to a particular class or all shares, and note any explanations of beneficial ownership, voting authority, dispositive power, or economic interest.
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Review cited ownership filings. If the proxy references Schedule 13D or 13G filings, follow those references to see which reporting persons disclosed ownership and what voting or dispositive power they reported.
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Compare filing dates with ownership dates. A filing submitted later can describe holdings measured earlier. Treat “filed on” and “as of” as separate dates, then check for newer disclosures before relying on a figure.
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Separate votes from shares. For a company with multiple share classes, check votes per share and any reported voting power alongside share counts and class percentages.
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Are these Lennar figures current?
The figures above are the named-holder snapshot in Lennar’s 2026 proxy, measured February 11, 2026. Lennar’s investor-relations site also showed later ownership-related filing activity, including a statement of changes in beneficial ownership dated October 5, 2026. That later filing activity does not by itself update every holder’s proxy-table position; consult the newest filings and their stated measurement dates for a more current picture.
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