Fairholme Capital Amends St. Joe Co. Stake Filing

TL;DR

Fairholme Capital just updated their 13D on St. Joe Co. (JOE) - still a major player.

AI Summary

Fairholme Capital Management LLC, through Bruce R. Berkowitz, has amended its Schedule 13D filing for The St. Joe Company on May 7, 2024. This amendment, the 31st, indicates a continued significant stake in the company, which is a land subdivider and developer based in Panama City Beach, Florida.

Why It Matters

This filing update from a significant investor like Fairholme Capital Management suggests ongoing strategic interest or potential changes in their investment position in The St. Joe Company.

Risk Assessment

Risk Level: medium — Amendments to 13D filings can signal shifts in activist investor strategy or significant holdings, which may impact stock price and corporate governance.

Key Numbers

• Amendment No. 31 — Filing Amendment (Indicates a history of updates to the filing.)
• 20240507 — Filing Date (Date of the latest amendment.)

Key Players & Entities

• Fairholme Capital Management LLC (company) — Filing entity
• Bruce R. Berkowitz (person) — Beneficial owner associated with Fairholme Capital
• The St. Joe Company (company) — Subject company
• 5966 South Dixie Highway, Suite 300, South Miami, FL 33143 (address) — Fairholme Capital's business address
• 130 Richard Jackson Blvd, Suite 200, Panama City Beach, FL 32407 (address) — St. Joe Company's business address

FAQ

Filing Documents

• d11045741_13d-a.htm (SC 13D/A) — 117KB
• 0000919574-24-002774.txt ( ) — 119KB

From the Filing

SC 13D/A 1 d11045741_13d-a.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D Under The Securities Exchange Act of 1934 (Amendment No. 31)* The St. Joe Company (Name of Issuer) Common Stock (Title of Class of Securities) 790148100 (CUSIP Number) Bruce R. Berkowitz c/o Fairholme Capital Management, L.L.C. 5966 South Dixie Highway, Suite 300 South Miami, FL 33143 (305) 358-3000 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) May 3, 2024 (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.240.13D-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [__]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent. ____________ * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 790148100 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Fairholme Capital Management, L.L.C. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [X] 3. SEC USE ONLY 4. SOURCE OF FUNDS* AF 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. SOLE VOTING POWER 0 8. SHARED VOTING POWER 18,788,124 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER [_] 20,162,581 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 20,162,581 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 34.5% 14. TYPE OF REPORTING PERSON* IA CUSIP No. 790148100 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Bruce R. Berkowitz 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [X] 3. SEC USE ONLY 4. SOURCE OF FUNDS* AF 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. SOLE VOTING POWER 1,909,967 8. SHARED VOTING POWER 18,788,124 9. SOLE DISPOSITIVE POWER 1,909,967 10. SHARED DISPOSITIVE POWER [_] 20,162,581 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 22,072,548 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 37.8% 14. TYPE OF REPORTING PERSON* IN, HC CUSIP No. 790148100 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Fairholme Funds, Inc. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [X] 3. SEC USE ONLY 4. SOURCE OF FUNDS* WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] 6. CITIZENSHIP OR PLACE OF ORGANIZATION Maryland NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. SOLE VOTING POWER 0 8. SHARED VOTING POWER 18,788,124 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER [_] 18,788,124 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 18,788,124 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 32.2% 14. TYPE OF REPORTING PERSON* IV CUSIP No. 790148100 Item 1. Security and Issuer. The name of the issuer is The St. Joe Company (the "Issuer"). The address of the Issuer's offices is 130 Richard Jackson Boulevard, Suite 200, Panama City Beach, Florida 32407. This Schedule 13D relates to the Issuer's Common Stock (the "Shares"). Item 2. Identity and Background. (a-c, f) This Schedule 13D is being filed jointly by Fairholme Capital Management, L.L.C., a Delaware limited liability company ("Fairholme"), The Fairholme Fund, a series of F

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View this SC 13D/A filing on SEC EDGAR