EXCLUSIVE: Lennar’s Big New Customer Is Its Own Spinoff, Millrose
Lennar is selling homes to former spinoff Millrose, whose revenue largely comes from Lennar and whose largest voting shareholder is Lennar’s CEO.
Friday, October 2, 2026
Back to today 
From X
junkbondinvestor on X
“Good news. We got you your full $PSKY allocation.” https://t.co/oKKwqUnBNn
Barbarian Capital on X
Keurig Dr Pepper Hires Kimberly-Clark President Torres to Helm Coffee Spinoff $KDP $KMB https://t.co/8CPQhRReM4
Barbarian Capital on X
McCormick Is Working to Win Over Value-Conscious Shoppers $MKC https://t.co/cNn2B5biRP
Barbarian Capital on X
Accenture Revenue Rises on Growth Across Geographies, Industries $ACN https://t.co/hKXPmc5ov2
Barbarian Capital on X
$HAS also moved up Barbie-Maker Mattel Draws Takeover Interest From Authentic Brands Group $MAT https://t.co/HZXNiDyOkj
Barbarian Capital on X
getting more interesting Nike Projects Sales Decline This Year After Lower First-Quarter Revenue $NKE https://t.co/pV51lJLbbK
Barbarian Capital on X
Raytheon Gets $24.4 Billion Navy Contract for Standard Missile-6 Interceptors $RTX https://t.co/uNGS51L1bU
Barbarian Capital on X
ON Semicondcutor to Buy Synaptics for Cash, Not Stock, in Downsized Deal $ON $SYNA https://t.co/ZBg5wXAYaX
Investor Letters
All letters- Protean Funds September 2026 DSV $43BNTOIF $29B
- Asset Value Investors Ltd August 2026 MSLOF $16B
- Guinness Global Investors August AFL $56BCRM $191B
- Janus Henderson Investors July 2026 KLAC $270BMCK $100B
- Asset Value Investors Ltd July 2026 UNVGY $26B
- PenderFund Capital Management Ltd. July 2026 GNRC $12B
- Lindsell Train Limited July LDNXF $52BSGGEF $12B
- Protean Funds July 2026 EVGGF $15BNVO $169B
Nike, Part Two: The Deep Dive
Nike’s second Latticework program examines the company and the global athletic footwear and apparel industry for professional investors.
Nike, Part One: The Story
Nike grew from a $1,000 shoe-distribution venture in 1964 into the largest sports brand, using athlete endorsements, product innovation and…
Rocket Lab (NASDAQ: RKLB) Stock Rating: Accumulate After Q2 FY12/26 Earnings
Rocket Lab reported Q2 revenue up 62% to $234.1 million and backlog up 137% to $2.36 billion, while operating losses and cash burn…
American Healthcare REIT: A Dip Buy Driven By Senior-Care And Outpatient Tailwind
American Healthcare REIT’s senior-housing and outpatient portfolio is driving FFO growth and dividend safety, while a rich valuation limits…
Albert Anthony 1 click
Sleep Well Portfolio (Sept 2026) - New Pick coming up - SWI#25.
CrowdStrike faces a trim at a $270 billion valuation and 140x free cash flow, despite AI-driven cybersecurity demand and a $20 billion ARR…
Twilio (NYSE: TWLO) Stock Rating: Hold After Q2 FY12/26 Earnings - Distribute Below $260
Twilio posted Q2 revenue of $1.50 billion, up 22%, and guided 16% Q3 growth; the note rates TWLO Hold at $305, with a $260 risk line.
Regeneron And Sanofi Announce A Win-Win Collaboration Expansion
Regeneron and Sanofi expanded their antibody partnership, giving REGN $1 billion upfront, up to $7 billion in milestones and a 50:50 global…
Why Muse May Never Need Ads
Muse could sidestep ads by becoming a neutral commerce agent, while DoorDash and Airbnb build proprietary agents that steer users toward…
Chipotle: Takeover Talk Aside, The Margin Math Is Why I Still Say Buy
Chipotle's Q2 revenue rose 9.3% as traffic and market share grew; the case rests on pricing catching inflation to restore margins.
The Alpha Analyst 
Autodesk (NASDAQ: ADSK) Stock Rating: Accumulate After Q2 FY1/27 Earnings - New Rating Bands, Stop And Price Targets Inside
Autodesk reported Q2 revenue growth of 16% to $2.05 billion, while RPO growth slowed to 2%; FY2027 guidance calls for $8.30 billion to…
[ROL – Rollins] The exterminator’s dilemma
Rollins’ shares have fallen more than 50% from their peak, resetting valuation as route density, reliable service and pricing support…
This Week in Special Situations: Pearson, CarMax, Talen Energy, KBR, Apollo Commercial Real Estate
Pearson, CarMax, Talen Energy, KBR and Apollo Commercial Real Estate lead a 33-company survey of activist campaigns, buybacks, M&A and…
Deckers (DECK): From Clown Shoes To Compounder
Deckers built HOKA into a brand nearing UGG’s scale, with HOKA revenue up about fivefold since FY21.
Q3 2026 Consolidated Holdings, Performance, and Ideas
Irrational Analysis reports 51.55% outperformance versus a semiconductor ETF, adding Credo for SerDes and QMCO for AI-driven tape storage…
Occidental Petroleum: Great Inventories To Ride Lower Structural Capex In The Industry
Occidental Petroleum could benefit as declining shale inventories and high rates curb industry capex, tightening oil supply against demand…
Gen Z Investor 
Chevron (NYSE: CVX) Stock Rating: Move To Distribute After Q2 FY12/26 Earnings - Near-Peak Margins And The Iran War
Chevron moved to Distribute at $204 after Q2 free cash flow reached $18.1 billion on $104 Brent, with near-peak margins driving supernormal…
Undercovered Dozen: Vicor, Rayonier, Accenture And More
Vicor, Rayonier, Accenture and nine other lesser-covered stocks make up Seeking Alpha’s Undercovered Dozen.
EQT Corporation (NYSE: EQT) Stock Rating: Hold After Q2 FY12/26 - Why Europe's Gas Shortage Has Not Lifted The Stock
EQT remains tied to roughly $3 Henry Hub gas despite European prices near $23 per MMBtu, with US LNG export capacity limiting overseas…
POSCO Holdings: A Resource Conglomerate Still Priced Like A Distressed Steel Mill
POSCO Holdings trades at a 78.6% P/B discount as lithium, gas and trading profits reshape the steelmaker, while capex and lithium prices…
Capital Connoisseur 
Toll roads in the sky
Asia's elevator boom favors maintenance and modernization providers, with Otis deriving nearly 90% of operating profit from after-sales…
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