FAIRHOLME FUNDS INC 4
4 · ST JOE Co · Filed Feb 20, 2026
Research Summary
AI-generated summary of this filing
ST JOE (JOE) 10% Owner Bruce R. Berkowitz Sells Shares
What Happened
Bruce R. Berkowitz, reported as a 10% owner, sold a total of 16,000 ST JOE (JOE) shares in open-market transactions between Feb 18 and Feb 20, 2026. The sales were: 11,100 shares on Feb 18 at $71.27 ($791,097), 3,900 shares on Feb 19 at $71.01 ($276,939), and 1,000 shares on Feb 20 at $71.51 ($71,510), for aggregate proceeds of about $1,139,546. These were outright sales (not purchases or option exercises) and thus represent dispositions of stock rather than a bullish purchase signal.
Key Details
- Transaction dates and prices:
- 2026-02-18: Sold 11,100 @ $71.27 = $791,097
- 2026-02-19: Sold 3,900 @ $71.01 = $276,939
- 2026-02-20: Sold 1,000 @ $71.51 = $71,510
- Total shares sold: 16,000; total proceeds: ~$1.14M.
- Shares owned after transaction: not specified in the provided excerpt of the filing.
- Footnotes: Filing states some reported transactions were in securities held by The Fairholme Fund (managed by Fairholme Capital Management, which Berkowitz controls) and may be deemed beneficially owned by Berkowitz (footnote F1). Another footnote (F2) indicates some reported securities are directly owned by Mr. Berkowitz.
- Signature/POA note: The filing includes a power of attorney appointing Erica K. Kapahi to sign regulatory filings on Berkowitz’s behalf.
- Timeliness: Filed Feb 20, 2026 for transactions dated Feb 18–20, 2026. No late-filing flag indicated.
Context
Berkowitz is reported as a 10% owner and also linked to The Fairholme Fund as investment manager; sales may reflect fund or portfolio-level decisions rather than a personal insider view. Sales are common and can be for many reasons (portfolio rebalancing, tax/liquidity needs); they do not necessarily indicate negative company-specific information.
Insider Transaction Report
- Sale
Common Stock
[F1]2026-02-18$71.27/sh−11,100$791,097→ 16,140,024 total - Sale
Common Stock
[F1]2026-02-19$71.01/sh−3,900$276,939→ 16,136,124 total - Sale
Common Stock
[F1]2026-02-20$71.51/sh−1,000$71,510→ 16,135,124 total
- 606,866
Common Stock
[F2]
Footnotes (2)
- [F1]The reported transactions were in securities held by The Fairholme Fund, a series of Fairholme Funds, Inc. (the "Fairholme Fund"). The securities may be deemed to be beneficially owned by Mr. Bruce R. Berkowitz ("Mr. Berkowitz") because he controls the sole member of Fairholme Capital Management, LLC ("Fairholme"), which may be deemed to have beneficial ownership of the securities because Fairholme serves as the investment manager to the Fairholme Fund. Mr. Berkowitz and Fairholme disclaim beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that Mr. Berkowitz and Fairholme are the beneficial owners of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose.
- [F2]The reported securities are directly owned by Mr. Berkowitz.