FAIRHOLME FUNDS INC 4
4 · ST JOE Co · Filed Jun 16, 2026
Research Summary
AI-generated summary of this filing
ST JOE (JOE) Bruce R. Berkowitz (10% Owner) Sells Shares
What Happened
Bruce R. Berkowitz, reported as a 10% owner, sold a total of 184,700 shares of ST JOE (JOE) in three open‑market dispositions. Transactions: 63,800 shares at $65.25 on 2026-06-12 ($4,162,950); 94,200 shares at $65.59 on 2026-06-15 ($6,178,578); and 26,700 shares at $65.03 on 2026-06-16 ($1,736,301). Total proceeds across the three sales were about $12.08 million. These were sales (not purchases), which are typically routine portfolio/investment actions rather than direct statements about company prospects.
Key Details
- Transaction dates & prices:
- 2026-06-12: 63,800 shares @ $65.25 — $4,162,950
- 2026-06-15: 94,200 shares @ $65.59 — $6,178,578
- 2026-06-16: 26,700 shares @ $65.03 — $1,736,301
- Total shares sold: 184,700; total proceeds ≈ $12.08M.
- Shares owned after the transactions: Not specified in the provided Form 4 data.
- Filing: Form 4 was filed on 2026-06-16 (period of report noted as 2026-06-12); the filing includes trades through 6/16 as reported.
- Footnotes of note:
- F1: Some reported transactions involved securities held by The Fairholme Fund (managed by Fairholme); Berkowitz may be deemed to benefit via his control of Fairholme but disclaims beneficial ownership except for any pecuniary interest.
- F2: Some reported securities are directly owned by Mr. Berkowitz.
Context
Berkowitz is a 10% owner and some sales were tied to institutional/fund holdings (Fairholme Fund). Sales by large shareholders can reflect portfolio rebalancing or fund-level decisions and are not, by themselves, a reliable signal of company fundamentals.
Insider Transaction Report
- Sale
Common Stock
[F1]2026-06-12$65.25/sh−63,800$4,162,950→ 15,334,924 total - Sale
Common Stock
[F1]2026-06-15$65.59/sh−94,200$6,178,578→ 15,240,724 total - Sale
Common Stock
[F1]2026-06-16$65.03/sh−26,700$1,736,301→ 15,214,024 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.