FAIRHOLME FUNDS INC 4
4 · ST JOE Co · Filed May 7, 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, disposed of a total of 377,800 shares of ST JOE Co. (JOE) in three transactions between May 5–7, 2026. The sales were reported as open-market or private sales (code S).
- May 5, 2026: 189,200 shares @ $65.78 each = $12,445,576
- May 6, 2026: 163,600 shares @ $65.78 each = $10,761,608
- May 7, 2026: 25,000 shares @ $65.33 each = $1,633,250
- Total proceeds across the three disposals: $24,840,434. These were sales (not purchases), which are often routine portfolio or fund-management activity rather than a direct bullish signal.
Key Details
- Transaction dates & prices: May 5 (189,200 @ $65.78), May 6 (163,600 @ $65.78), May 7 (25,000 @ $65.33).
- Total shares sold: 377,800; total value: ~$24.84 million.
- Shares owned after the transactions: not specified in the data provided.
- Footnotes of note:
- F1: Some reported transactions were in securities held by The Fairholme Fund (managed by Fairholme Capital Management, LLC), which Berkowitz controls; Fairholme and Berkowitz disclaim beneficial ownership except to the extent of any pecuniary interest.
- F2: Some reported securities are directly owned by Mr. Berkowitz.
- Filing: Form 4 filed May 7, 2026 (no late-filing indication in the provided information).
Context
- As a 10% owner and investment-manager-controlled fund, these disposals may reflect fund or portfolio rebalancing rather than personal trading by an executive. Sales are informative about supply but do not, by themselves, prove a change in company fundamentals.
- Retail investors should view institutional or fund-related sales differently from executive insider purchases, which are typically stronger signals of confidence.
Insider Transaction Report
Form 4
ST JOE CoJOE
BERKOWITZ BRUCE R
10% Owner
Transactions
- Sale
Common Stock
[F1]2026-05-05$65.78/sh−189,200$12,445,576→ 15,884,424 total - Sale
Common Stock
[F1]2026-05-06$65.78/sh−163,600$10,761,608→ 15,720,824 total - Sale
Common Stock
[F1]2026-05-07$65.33/sh−25,000$1,633,250→ 15,695,824 total
Holdings
- 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.