Toll Brothers: BlackRock discloses 10.1% stake

BlackRock reports a 10.1% beneficial ownership stake in Toll Brothers’ common stock with sole voting and dispositive control over more than 9.3 million shares.

Rhea-AI Filing Summary

Toll Brothers, Inc. (TOL) reports that BlackRock, Inc. has filed an amended Schedule 13G/A disclosing a significant ownership position in its common stock. BlackRock reports 9,330,227 shares beneficially owned, representing 10.1% of the common stock outstanding. BlackRock has sole power to vote 9,108,531 shares and sole power to dispose of 9,330,227 shares, with no shared voting or dispositive power. The filing notes that various underlying clients and investors have rights to dividends or sale proceeds, but no single such person holds more than five percent of Toll Brothers’ outstanding common shares.

Key Figures

Shares beneficially owned: 9,330,227 shares Percent of class: 10.1% Sole voting power: 9,108,531 shares +3 more

6 metrics

Shares beneficially owned 9,330,227 shares Toll Brothers common stock reported by BlackRock under Item 4(a)

Percent of class 10.1% Portion of Toll Brothers common stock class held beneficially by BlackRock

Sole voting power 9,108,531 shares Shares for which BlackRock has sole power to vote or direct the vote

Sole dispositive power 9,330,227 shares Shares for which BlackRock has sole power to dispose or direct disposition

Amendment number 23 Amendment No. 23 to Schedule 13G filed by BlackRock for Toll Brothers

Date of signature September 4, 2026 Date the Schedule 13G/A was signed by the Managing Director

Key Terms

beneficially owned, Sole Voting Power, Sole Dispositive Power, parent holding company, +1 more

5 terms

beneficially owned financial

"this reflects the securities beneficially owned, or deemed to be beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Voting Power financial

"5 | Sole Voting Power 9,108,531.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power financial

"7 | Sole Dispositive Power 9,330,227.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

parent holding company regulatory

"If a parent holding company has filed this schedule, pursuant to (ii)(G)"

Schedule 13G regulatory

"Amendment No. 23 to Schedule 13G"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

FAQ

What ownership stake does BlackRock report in Toll Brothers (TOL) in this Schedule 13G/A?

BlackRock reports beneficial ownership of 9,330,227 shares of Toll Brothers common stock, representing 10.1% of the class. This reflects securities beneficially owned or deemed beneficially owned by certain BlackRock business units and their affiliates.

How many Toll Brothers (TOL) shares can BlackRock vote according to the filing?

BlackRock reports sole power to vote 9,108,531 shares of Toll Brothers common stock and no shared voting power. This indicates that voting authority over these shares resides exclusively with the relevant BlackRock reporting business units.

What dispositive power over Toll Brothers (TOL) shares does BlackRock have?

BlackRock states it has sole power to dispose of or direct the disposition of 9,330,227 shares of Toll Brothers common stock and no shared dispositive power. These shares match the total amount BlackRock reports as beneficially owned.

Do any individual BlackRock clients hold over 5% of Toll Brothers (TOL) shares?

The filing states that various persons have rights to dividends or sale proceeds from Toll Brothers shares held by BlackRock, but that no one person’s interest exceeds five percent of Toll Brothers’ total outstanding common shares.

Who signed the Schedule 13G/A related to Toll Brothers (TOL) on behalf of BlackRock?

The Schedule 13G/A was signed by Spencer Fleming, identified as a Managing Director of BlackRock, Inc., on September 4, 2026, pursuant to a Power of Attorney (Exhibit 24).

What type of filing is this for Toll Brothers (TOL) and why is it used?

This is an Amendment No. 23 to Schedule 13G, used by certain institutional investors like BlackRock to report or update beneficial ownership of more than 5% of a registered class of a company’s equity securities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/04/2026 - 12:16 PM Accepted by SEC EDGAR 09/04/2026 - 12:15 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 23)

TOLL BROTHERS INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

889478103

(CUSIP Number)

08/31/2026

(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)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 889478103

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

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 9,108,531.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 9,330,227.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,330,227.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.1 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TOLL BROTHERS INC
(b)	Address of issuer's principal executive offices: 1140 Virginia Drive FORT WASHINGTON PA 19034
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 889478103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 9330227
(b)	Percent of class: 10.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 9108531
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 9330227
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 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 5 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 employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of TOLL BROTHERS INC. No one person's interest in the common stock of TOLL BROTHERS INC is more than five percent of the total outstanding common shares.
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 has filed this schedule, pursuant to Rule 13d-1(b)(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 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. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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, other than activities solely in connection with a nomination under § 240.14a-11.

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.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	09/04/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7