Amendment: SEC Form SCHEDULE 13D/A filed by Lennar Corporation

GAMCO is a New York corporation and GBL and MGH are Delaware corporations, each having its principal business office at One Corporate Center, Rye, New York 10580. GGCP is a Wyoming corporation and AC and GCIA are Delaware corporations each having its principal business office 191 Mason Street, Greenwich, CT 06830. GGCP Holdings is a Delaware limited liability corporation having its principal business office at 191 Mason Street, Greenwich, CT 06830. G.research is a Delaware limited liability company having its principal officers at One Corporate Center, Rye, New York 10580. Gabelli Funds is a New York limited liability company having its principal business office at One Corporate Center, Rye, New York 10580. Teton Advisors is a Wyoming limited liability company having its principal place of business at 189 Mason Street, Greenwich, CT 06830. Keeley-Teton Advisors is a Delaware limited liability company having its principal place of business at 141 W. Jackson Blvd., Chicago, IL 60604. MJG Associates is a Connecticut corporation having its principal business office at 191 Mason Street, Greenwich, CT 06830. The Foundation is a Nevada corporation having its principal offices at 165 West Liberty Street, Reno, Nevada 89501. LICT is a Delaware corporation having its principal place of business as 401 Theodore Fremd Avenue, Rye, New York 10580. CIBL, Inc. is a Delaware corporation having its principal place of business as 165 West Liberty Street, Suite 220, Reno, NV 89501.

GGCP makes investments for its own account and is the manager and a member of GGCP Holdings which is the controlling shareholder of GBL and AC. GBL, a public company whose stock is quoted on the OTCQX platform, is the parent company for a variety of companies engaged in the securities business, including certain of those named below. AC, a public company listed on the New York Stock Exchange, is the parent company for a variety of companies engaged in the securities business, including certain of those listed below. GAMCO, a wholly-owned subsidiary of GBL, is an investment adviser registered under the Investment Advisers Act of 1940, as amended (Advisers Act). GAMCO is an investment manager providing discretionary managed account services for employee benefit plans, private investors, endowments, foundations and others. GCIA, a wholly owned subsidiary of AC, is an investment adviser registered under the Advisers Act and serves as a general partner or investment manager to limited partnerships and offshore investment companies and other accounts. As a part of its business, GCIA may purchase or sell securities for its own account. GCIA or its relying advisers, act as a general partner or investment manager of a number of funds or partnerships, including Gabelli Associates Fund, L.P., Gabelli Associates Fund II, L.P., Gabelli Associates Limited, Gabelli Associates Limited II E, Gabelli Intermediate Credit Fund L.P., GAMA Select Plus Master Fund, Ltd., GAMCO Medical Opportunities L.P., and Gabelli Multimedia Partners, L.P. G.research is a wholly owned subsidiary of MGH. G.research, is a broker-dealer registered under the Securities Exchange Act of 1934, as amended (1934 Act), which may as a part of its business purchase and sell securities for its own account. Gabelli Funds, a wholly owned subsidiary of GBL, is a limited liability company. Gabelli Funds is an investment adviser registered under the Advisers Act which provides advisory services for The Gabelli Equity Trust Inc., The Gabelli Asset Fund, The Gabelli Growth Fund, The Gabelli Convertible and Income Securities Fund Inc., The Gabelli Value 25 Fund Inc., The Gabelli Small Cap Growth Fund, The Gabelli Equity Income Fund, The Gabelli ABC Fund, The Gabelli Global Content & Connectivity Fund, The Gabelli Gold Fund, Inc., The Gabelli Multimedia Trust Inc., The Gabelli Global Rising Income & Dividend Fund, The Gabelli Capital Asset Fund, The Gabelli International Growth Fund, Inc., The Gabelli Global Growth Fund, The Gabelli Utility Trust, The Gabelli Utilities Fund, The Gabelli Dividend Growth Fund, The Gabelli Focused Growth and Income Fund, The Comstock Capital Value Fund, The Gabelli Dividend and Income Trust, The Gabelli Global Utility & Income Trust, The GAMCO Global Gold, Natural Resources, & Income Trust, The GAMCO Natural Resources, Gold & Income Trust, The GDL Fund, Gabelli Enterprise Mergers & Acquisitions Fund, The Gabelli ESG Fund, Inc., The Gabelli International Small Cap Fund, The Gabelli Healthcare & Wellness Rx Trust, The Gabelli Global Small and Mid Cap Value Trust, Gabelli Merger Plus+ Trust Plc, The Gabelli Global Financial Services Fund, The Gabelli Global Mini Mites Fund, The Gabelli Media Mogul Fund, The Gabelli Pet Parents Fund, Keeley Small Cap Fund, The Gabelli U.S. Treasury Money Market Fund, Bancroft Fund Ltd. and Ellsworth Growth & Income Fund Ltd., Gabelli Growth Innovators ETF, Gabelli Love Our Planet & People ETF, Gabelli Automation ETF, Gabelli Commercial Aerospace & Defense ETF, Gabelli Financial Services Opportunities ETF (collectively, the Funds), which are registered investment companies. Gabelli Funds is also the investment adviser to The GAMCO International SICAV (sub-funds GAMCO Merger Arbitrage and GAMCO All Cap Value), a UCITS III vehicle. Teton Advisors, an investment adviser registered under the Advisers Act, provides discretionary advisory services to The TETON Westwood Mighty Mites Fund, The Teton Westwood Balanced Fund, and The TETON Westwood Equity Fund. The TETON Westwood Mighty Mites Fund is sub-advised by Gabelli Funds, and their holdings are included in this filing. Keeley-Teton, an investment adviser registered under the Advisers Act, provides discretionary advisory services to The TETON Convertible Securities Fund and their holding are included in this filing. MJG Associates provides advisory services to private investment partnerships and offshore funds. Mario Gabelli is the sole shareholder, director and employee of MJG Associates. MJG Associates is the Investment Manager of Gabelli International Limited and Gabelli Fund, LDC. Mario J. Gabelli is the general partner of Gabelli Performance Partnership, LP. The Foundation is a private foundation. Mario Gabelli is the Chairman, a Trustee and the Investment Manager of the Foundation. Elisa M. Wilson is the President of the Foundation. LICT is a holding company with operating subsidiaries engaged primarily in the rural telephone industry. LICT actively pursues new business ventures and acquisitions. LICT makes investments in marketable securities to preserve capital and maintain liquidity for financing their business activities and acquisitions and are not engaged in the business of investing, or trading in securities. Mario J. Gabelli is the Chief Executive Officer, a director, and substantial shareholder of LICT. CIBL is a holding company with interest in telecommunications operations, primarily in the rural telephone industry. CIBL actively pursues new business ventures and acquisitions. CIBL makes investments in marketable securities to preserve capital and maintain liquidity for financing their business activities and acquisitions and are not engaged in the business of investing, or trading in securities. Mario J. Gabelli is a director, and substantial shareholder of CIBL. Mario Gabelli is the controlling stockholder, co-Chief Executive Officer and a director of GGCP and Chairman and Chief Executive Officer of GBL. He is the Executive Chairman of AC. Mario Gabelli is also a member of GGCP Holdings. Mario Gabelli is the controlling shareholder of MGH and indirectly of Teton Advisors and Keeley-Teton Advisors.

Not applicable.

Not applicable.

United States

The Reporting Persons used an aggregate of approximately $1,401,710 to purchase the additional Securities reported as beneficially owned in Item 5. GAMCO used approximately $1,378,926 of funds that were provided through the accounts of certain of their investment advisory clients (and, in the case of some of such accounts at GAMCO, may be through borrowings from client margin accounts) in order to purchase the additional Securities for such clients. Mario Gabelli used approximately $22,784 of private funds to purchase the additional Securities reported by him.

On October 21, 2025, the Issuer sent correspondence to the Reporting Persons, which the Issuer filed publicly on the same date, indicating, among other things, that under the Issuer's current Restated Certificate of Incorporation (as amended), holders of the Issuer's Class B common stock are not permitted to convert such shares into Class A common stock absent a further amendment to the certificate of incorporation, and that implementing such an amendment would require stockholder approval. The Issuer further indicated that the Restated Certificate of Incorporation requires that the number of outstanding Class B shares represent at least 10% of the combined total of outstanding Class A and Class B shares in order for the Class B shares to remain outstanding, and that a failure to satisfy such requirement would result in the automatic conversion of all outstanding Class B shares into Class A shares. The Reporting Persons believe that the Issuer should allow shareholders the opportunity to vote on proposed amendments to the certificate of incorporation that would (i) permit the convertibility of the Issuer's Class B common stock into Class A common stock and (ii) eliminate the minimum outstanding Class B share requirement so that any such convertibility would not, absent stockholder approval, result in the automatic conversion of the Issuer's Class B common stock, in order to allow shareholders to determine the appropriate capital structure and governance framework of the Issuer. As context, as of August 31, 2025, as reported in the Issuer's most recent Quarterly Report on Form 10-Q, the Issuer had 223,803,530 shares of Class A common stock and 31,217,013 shares of Class B common stock outstanding. The Issuer has also publicly disclosed the completion of the Millrose exchange offering, which reduced the number of outstanding Class A shares from the amounts reported in the Form 10-Q.

The aggregate number of Securities to which this Schedule 13D relates is 1,724,170 shares, representing 5.49% of the 31,405,194 shares outstanding as reported by the Issuer. The Reporting Persons beneficially own those Securities as follows: GAMCO 454,670 shares 1.45%, Gabelli Funds 1,141,300 shares 3.63%, MJG Associates 116,000 shares 0.37%, GGCP 11,400 shares 0.04%, Mario Gabelli 800 shares 0.00%.

Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be, except that (i) GAMCO does not have authority to vote 15,764 of the reported shares, (ii) Gabelli Funds has sole dispositive and voting power with respect to the shares of the Issuer held by the Funds so long as the aggregate voting interest of all joint filers does not exceed 25% of their total voting interest in the Issuer and, in that event, the Proxy Voting Committee of each Fund shall respectively vote that Funds shares, (iii) at any time, the Proxy Voting Committee of each such Fund may take and exercise in its sole discretion the entire voting power with respect to the shares held by such fund under special circumstances such as regulatory considerations, and (iv) the power of Mario Gabelli, AC, GBL, and GGCP is indirect with respect to Securities beneficially owned directly by other Reporting Persons.

Information with respect to all transactions in the Securities which were effected during the past sixty days or since the most recent filing on Schedule 13D, whichever is less, by each of the Reporting Persons and Covered Persons is set forth below: DATE SHARES PURCHASED PRICE /SOLD GABELLI FUNDS, LLC GABELLI ABC FUND 11/25/2025 -500 120.3680 11/24/2025 -500 113.6000 10/15/2025 -500 115.1935 GABELLI ASSET FUND 1/5/2026 200 97.8762 1/2/2026 400 95.9700 GABELLI EQUITY TRUST 12/29/2025 800 96.2997 GAMCO ASSET MANAGEMENT INC. 1/12/2026 -300 108.8582 1/7/2026 200 96.2500 12/31/2025 1,250 95.5143 12/30/2025 -300 96.0033 12/30/2025 -710 96.1800 12/29/2025 -200 96.2271 12/29/2025 -600 97.3500 12/26/2025 790 97.1753 12/24/2025 -200 98.2900 12/23/2025 425 96.9835 12/23/2025 -50 97.3560 12/22/2025 -100 97.0400 12/22/2025 -200 98.2698 12/19/2025 250 98.3078 12/19/2025 600 98.6950 12/18/2025 500 103.0172 12/18/2025 150 106.5000 12/16/2025 44 110.8300 12/12/2025 300 113.7950 12/10/2025 100 111.9000 12/9/2025 -20 113.6500 12/2/2025 -150 120.6500 12/2/2025 -200 120.6710 12/2/2025 -100 121.2000 11/21/2025 -111 115.1900 11/21/2025 200 115.4800 11/21/2025 -200 115.6400 11/20/2025 100 109.0500 11/5/2025 250 113.3022 11/5/2025 1,050 113.8063 11/4/2025 100 115.1179 11/3/2025 -50 115.1179 10/31/2025 200 118.0000 10/30/2025 150 117.3900 10/30/2025 50 117.5800 10/29/2025 50 119.3900 10/29/2025 400 119.5100 10/29/2025 6,308 120.4328 10/29/2025 380 121.1476 10/28/2025 860 120.2425 10/28/2025 290 120.2572 10/28/2025 200 120.3171 10/27/2025 300 120.7500 10/24/2025 -400 121.2125 10/20/2025 -200 117.5162 10/20/2025 -200 117.6400 10/20/2025 50 117.7100 10/15/2025 150 115.0000 10/15/2025 600 115.0392 10/15/2025 -200 115.3000 10/13/2025 75 110.9024 MJG ASSOCIATES, INC. GABELLI INTERNATIONAL LIMITED 12/31/2025 200 95.8200 GABELLI PERFORMANCE PARTNERSHIP 11/24/2025 -400 114.3700 11/21/2025 -300 116.0487 10/28/2025 -400 120.8612 10/27/2025 -500 120.4080 10/23/2025 -500 119.1100 10/22/2025 -1,000 120.0168 10/17/2025 -1,500 116.6052 MARIO J. GABELLI 11/7/2025 200 113.9200

The investment advisory clients of, or partnerships managed by, GAMCO, Gabelli Funds, Teton Advisors and MJG Associates have the sole right to receive and, subject to the notice, withdrawal and/or termination provisions of such advisory contracts and partnership arrangements, the sole power to direct the receipt of dividends from, and the proceeds of sale of, any of the Securities beneficially owned by such Reporting Persons on behalf of such clients or partnerships. Except as noted, no such client or partnership has an interest by virtue of such relationship that relates to more than 5% of the Securities.

Not applicable.