SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 1)
Lennar Corporation
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(Name of Issuer)
Class B Common Stock, par value $0.10 per share
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(Title of Class of Securities)
526057302
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(CUSIP Number)
December 31, 2008
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
CUSIP No. 526057302
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1. NAME OF REPORTING PERSONS
Castine Capital Management, LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
2,160,700
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
2,160,700
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,160,700
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.91%
12. TYPE OF REPORTING PERSON
OO, IA
CUSIP No. 526057302
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1. NAME OF REPORTING PERSONS
Paul Magidson
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
2,160,700
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
2,160,700
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,160,700
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.91%
12. TYPE OF REPORTING PERSON
IN
CUSIP No. 526057302
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Item 1(a). Name of Issuer:
Lennar Corporation
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Item 1(b). Address of Issuer's Principal Executive Offices:
700 Northwest 107th Avenue
Miami, FL 33172
United States of America
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Item 2(a). Name of Persons Filing:
Castine Capital Management, LLC
Paul Magidson
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Item 2(b). Address of Principal Business Office, or if None, Residence:
Castine Capital Management, LLC
One International Place, Suite 2401
Boston, MA 02110
United States of America
Paul Magidson
c/o Castine Capital Management, LLC
One International Place, Suite 2401
Boston, MA 02110
United States of America
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Item 2(c). Citizenship:
Castine Capital Management, LLC - Delaware
Paul Magidson - United States of America
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Item 2(d). Title of Class of Securities:
Class B Common Stock, par value $0.10 per share
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Item 2(e). CUSIP Number:
526057302
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Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act.
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
(d) [_] Investment company registered under Section 8 of the Investment
Company Act.
(e) [_] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
Castine Capital Management, LLC: 2,160,700 shares
Paul Magidson: 2,160,700 shares
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(b) Percent of class:
Castine Capital Management, LLC: 6.91%
Paul Magidson: 6.91%
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(c) Number of shares as to which Castine Capital Management, LLC has:
(i) Sole power to vote or to direct the vote 0
-----------------,
(ii) Shared power to vote or to direct the vote 2,160,700
-----------------,
(iii) Sole power to dispose or to direct the
disposition of ` 0
-----------------,
(iv) Shared power to dispose or to direct the
disposition of 2,160,700
-----------------.
Number of shares as to which Paul Magidson has:
(i) Sole power to vote or to direct the vote 0
-----------------,
(ii) Shared power to vote or to direct the vote 2,160,700
-----------------,
(iii) Sole power to dispose or to direct the
disposition of 0
-----------------,
(iv) Shared power to dispose or to direct the
disposition of 2,160,700
-----------------.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the Reporting Person has ceased to be the beneficial owner of more than
five percent of the class of securities check the following [_].
N/A
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Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of an employee benefit plan, pension fund or endowment fund is not required.
N/A
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Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company or Control
Person.
If a parent holding company or control person has filed this Schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company or control person has filed this
Schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating
the identification of the relevant subsidiary.
N/A
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Item 8. Identification and Classification of Members of the Group.
If a group has filed this Schedule pursuant to ss.240.13d-1(b)(1)(ii)(J),
so indicate under Item 3(j) and attach an exhibit stating the identity and Item
3 classification of each member of the group. If a group has filed this Schedule
pursuant to ss.240.13d-1(c) or ss.240.13d-1(d), attach an exhibit stating the
identity of each member of the group.
N/A
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Item 9. Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.
N/A
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Item 10. Certifications.
By signing below each Reporting Person certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 17, 2009
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(Date)
Castine Capital Management, LLC (1)
By: /s/ Paul Magidson
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Name: Paul Magidson
Title: Managing Member
By: /s/ Paul Magidson (1)
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Name: Paul Magidson
(1) These Reporting Persons disclaim beneficial ownership except to the extent
of their pecuniary interest therein.
Exhibit A
AGREEMENT
The undersigned agree that this Schedule 13G dated February 17, 2009 relating to
the Class B Common Stock, par value $0.10 per share, of Lennar Corporation shall
be filed on behalf of the undersigned.
Castine Capital Management, LLC
By: /s/ Paul Magidson
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Name: Paul Magidson
Title: Managing Member
By: /s/ Paul Magidson
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Name: Paul Magidson
SK 21745 0002 957669