Fairholme Capital Management and Bruce R. Berkowitz filed Amendment No. 36 to update their large ownership stake in The St. Joe Company. As of this filing, Fairholme may be deemed to beneficially own 16,894,600 shares, or 29.4% of St. Joe’s common stock, and The Fairholme Fund may be deemed to beneficially own 15,695,824 shares, or 27.3%.
Bruce R. Berkowitz may be deemed to beneficially own 18,804,567 shares, representing 32.8% of the company’s common stock, based on 57,409,746 shares outstanding as of April 27, 2026. The filing notes sole and shared voting and dispositive powers and states that transactions in the past 60 days were open-market trades listed in an exhibit.
The Fairholme Fund, a series of Fairholme Funds, Inc., associated with reporting persons Bruce R. Berkowitz and Fairholme Funds Inc., reported open-market sales of ST JOE Co common stock. Across May 5–7, 2026, the fund sold 377,800 shares at prices between $65.33 and $65.78 per share, leaving 15,695,824 shares reported as beneficially held after the final transaction. A separate holding entry shows 606,866 shares of ST JOE common stock directly owned by Mr. Berkowitz as of May 5, 2026.
Issuer filed a Form 144 disclosing proposed sales of Common Stock by affiliated holders. The excerpt shows sales by Fairholme Capital Management, L.L.C. of 18,000 shares on 02/12/2026 for $1,220,353.00 and 1,000 shares on 03/10/2026 for $71,095.20. The filing lists shares outstanding 57,409,746 as of 05/07/2026 and multiple historic open‑market purchases recorded in 2017–2018.
The St. Joe Company expanded its share buyback capacity. As of May 4, 2026, the company had authority to repurchase approximately $49.2 million of its common stock under its existing Stock Repurchase Program.
On the same date, the board authorized additional repurchase capacity of approximately $150.8 million, bringing total authorized repurchase authority under the program to $200.0 million. The Stock Repurchase Program applies to the company’s common stock and has no expiration date.
The St. Joe Company reported Q1 2026 total revenue of $99,044k, up from $94,197k a year earlier, driven by higher hospitality revenue of $44,686k and real estate revenue of $39,699k, partly offset by lower leasing revenue of $14,659k.
Net income attributable to the Company was $13,934k versus $17,461k, and diluted earnings per share were $0.24 compared with $0.30. Operating income rose to $18,176k, but equity in income from unconsolidated joint ventures fell to $3,525k from $10,159k, reducing total other income.
Cash provided by operating activities increased to $42,241k from $29,016k, while cash and cash equivalents were $136,280k and total debt, net, was $380,417k as of March 31, 2026. Total assets were $1,517,748k and total stockholders’ equity was $765,873k.
The St. Joe Company reported first quarter 2026 revenue of $99.1 million, up 5% from $94.2 million a year earlier, driven by higher hospitality and real estate sales. Hospitality revenue reached a first quarter record of $44.7 million, up 13%, while leasing revenue declined 10% to $14.7 million.
Net income attributable to the company fell 21% to $13.9 million, or $0.24 per share, mainly due to lower equity in income from unconsolidated joint ventures as home closings slowed at the Latitude Margaritaville Watersound project. EBITDA decreased 16% to $33.6 million.
The board declared a quarterly cash dividend of $0.16 per share, payable June 25, 2026 to shareholders of record on June 9, 2026. The company ended March 31, 2026 with $136.3 million in cash and cash equivalents and allocated capital among development spending, dividends, share repurchases, and debt repayment during the quarter.
St. Joe Co/The received a Schedule 13G filing reporting beneficial ownership by Vanguard Portfolio Management of 3,872,674 shares of Common Stock, representing 6.72% of the class. The filing states Vanguard has sole dispositive power over 3,872,674 shares and sole voting power for 33,109 shares. The filing is signed and dated 04/29/2026.
The St. Joe Company is asking shareholders to elect six directors, ratify Grant Thornton LLP as auditor for 2026, and approve executive pay on an advisory basis at its May 12, 2026 annual meeting in Florida.
In 2025, CEO Jorge L. Gonzalez received total compensation of $1,857,798, including $611,673 in salary, a $924,281 cash bonus, and $308,143 in stock awards. Other named executives received a mix of salary, discretionary cash incentives, and time‑based restricted stock under the long‑term incentive plan.
Audit fees paid to Grant Thornton were $788,000 for 2025. The company reports a 2025 CEO pay ratio of about 45:1, based on median employee compensation of $41,022. Shareholders previously supported the Say on Pay proposal with over 97% of votes cast in 2025.
St Joe Co/The ownership filing: The Vanguard Group filed an amendment reporting 0 shares beneficially owned in the company's common stock, representing 0% of the class, following an internal realignment effective 01/12/2026.
The amendment explains certain Vanguard subsidiaries will report holdings separately in reliance on SEC Release No. 34-39538.