LLEN.BLennar Corporation Class B

The Class B shares of the same homebuilder: the same claim on profit, more votes per share, markedly less liquidity.

The company builds homes nationwide and is moving land off its own balance sheet into a separate structure, buying plots as houses are sold. Volume is the priority: sell faster by buying down the buyer's mortgage rate rather than hold a finished house unsold.

The class distinction matters in practice. This one carries more votes but trades markedly less often, so the spread is wider and the price is usually below the main class's despite identical claims on profit and an identical dividend. Such a liquidity discount is ordinary, and it may narrow or persist for a long time. The risks are the same as the main class's.