<SEC-DOCUMENT>0001213900-25-000200.txt : 20250102
<SEC-HEADER>0001213900-25-000200.hdr.sgml : 20250102
<ACCEPTANCE-DATETIME>20250102112421
ACCESSION NUMBER:		0001213900-25-000200
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250102

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Toll Brothers, Inc.
		CENTRAL INDEX KEY:			0000794170
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				232416878
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-37253
		FILM NUMBER:		25500907

	BUSINESS ADDRESS:	
		STREET 1:		1140 VIRGINIA DRIVE
		CITY:			FORT WASHINGTON
		STATE:			PA
		ZIP:			19034
		BUSINESS PHONE:		2159388000

	MAIL ADDRESS:	
		STREET 1:		1140 VIRGINIA DRIVE
		CITY:			FORT WASHINGTON
		STATE:			PA
		ZIP:			19034

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TOLL BROTHERS INC
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GREENHAVEN ASSOCIATES INC
		CENTRAL INDEX KEY:			0000846222
		ORGANIZATION NAME:           	
		IRS NUMBER:				133436799
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		THREE MANHATTANVILLE RD
		CITY:			PURCHASE
		STATE:			NY
		ZIP:			10577
		BUSINESS PHONE:		914-253-9350

	MAIL ADDRESS:	
		STREET 1:		3 MANHATTANVILLE RD
		CITY:			PURCHASE
		STATE:			NY
		ZIP:			10577
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001213900-23-042631</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: GREENHAVEN ASSOCIATES INC -->
          <cik>0000846222</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>2</amendmentNo>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000794170</issuerCik>
        <issuerName>Toll Brothers Incorporated</issuerName>
        <issuerCusip>889478103</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>1140 Virginia Drive</com:street1>
          <com:city>Fort Washington</com:city>
          <com:stateOrCountry>PA</com:stateOrCountry>
          <com:zipCode>19034</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Greenhaven Associates, Inc.</reportingPersonName>
      <citizenshipOrOrganization>NY</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>2151173.00</soleVotingPower>
        <sharedVotingPower>3385330.00</sharedVotingPower>
        <soleDispositivePower>2151173.00</soleDispositivePower>
        <sharedDispositivePower>3385330.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>5536503.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.53</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Toll Brothers Incorporated</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>1140 Virginia Drive Fort Washington, PA 19034</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Greenhaven Associates, Inc. 13-3436799</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>3 Manhattanville Road
Purchase, NY 10577</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Greenhaven Associates, Inc. is incorporated in New York State. Greenhaven's shareholders and executives all are citizens of the United States of America.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>5,536,503</amountBeneficiallyOwned>
        <classPercent>5.53</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>2,151,173</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>3,385,330</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>2,151,173</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>3,385,330</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>N</notApplicableFlag>
        <ownershipMoreThan5PercentOnBehalfOfAnotherPerson>Greenhaven Associates Inc. (Greenhaven), an Investment Advisory firm, has investment discretion with respect to the securities to which this statement relates.  Greenhaven has sole power to vote 2,151,173 common shares of Toll Brothers Incorporated.  All other shares are owned by clients of Greenhaven. Clients of Greenhaven have the right to receive and the power to direct the receipt of dividends from, and the proceeds from, the sale of common stock of Toll Brothers Incorporated. No one person's interest in the common stock is more than five percent of the total outstanding common stock of Toll Brothers Incorporated.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <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.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Greenhaven Associates, Inc.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Edgar Wachenheim III</signature>
        <title>Chairman &amp; CEO</title>
        <date>01/02/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
