Antipodes Global Fund Divested Lennar Corp (LEN) amid a Weak Housing Market Recovery

5 days ago 8

Soumya Eswaran

Mon, June 29, 2026 astatine 7:00 AM CDT 3 min read

Antipodes Partners published its "Antipodes Global Strategy" first-quarter 2026 capitalist letter, highlighting the cardinal show stocks, portfolio changes, and the marketplace outlook. A transcript of the missive tin be downloaded here. The archetypal 4th of 2026 was highly volatile. Early optimism shifted to a historical vigor daze caused by US-Israeli strikes connected Iran. Global equities dropped 3.2% successful USD, with US equities falling 4.6%, and worth stocks outperformed maturation stocks arsenic the rotation distant from mega-cap tech accelerated owed to AI fears. The strategy outperformed the benchmark implicit the 4th and the 12 months to March 31, 2026. Exposure successful North America, Korea, Western Europe, and Latin America regions boosted performance, portion Canada and the UK lagged. Energy, user discretionary, industrials, and healthcare sectors led the performance, portion financials, existent estate, and materials lagged. To negociate risk, the steadfast accrued its holdings successful antiaircraft sectors during the quarter. For insights into their cardinal selections for 2026, delight reappraisal the Strategy's apical 5 holdings.

In its first-quarter 2026 capitalist letter, Antipodes Global Value Strategy highlighted Lennar Corporation (NYSE:LEN). Lennar Corporation (NYSE:LEN) is simply a starring US-based location builders. On June 26, 2026, Lennar Corporation (NYSE:LEN) closed astatine $93.52 per share. One-month instrumentality of Lennar Corporation (NYSE:LEN) was 3.78%, and its shares mislaid 15.45% implicit the past 52 weeks. Lennar Corporation (NYSE:LEN) has a marketplace capitalization of $23.03 billion.

Antipodes Global Value Strategy stated the pursuing regarding Lennar Corporation (NYSE:LEN) successful its Q1 2026 capitalist letter:

"Lennar Corporation (NYSE:LEN): Gross margins connected location income fell to 15.2% successful Q1 FY2026, from 18.7% a twelvemonth earlier. Sales incentives of ~14% of gross (versus a humanities 4–6%) are becoming entrenched alternatively than normalising. Deliveries, mean prices, and caller bid guidance are each tracking beneath expectations. The structural US lodging undersupply communicative is real, but the span to net betterment is longer and much achy than the archetypal lawsuit anticipated."

Lennar (LEN) Faces Earnings Headwinds from Land Banking Strategy, Says Keefe Bruyette

Lennar Corporation (NYSE:LEN) is not connected our database of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 66 hedge money portfolios held Lennar Corporation (NYSE:LEN) astatine the extremity of the archetypal quarter, compared to 68 successful the erstwhile quarter. While we admit the imaginable of Lennar Corporation (NYSE:LEN) arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

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