Bruce R. Berkowitz has demonstrated a consistent and substantial selling bias in his transactions involving The St. Joe Company (JOE), with no recorded purchases across 35 reported trades. Since March 2025, Berkowitz has executed 25 sales totaling over $76.3 million, with the largest single transaction occurring on August 13, 2025, when he sold $8.6 million worth of shares. The selling activity has remained persistent through early 2026, including multiple seven-figure disposals such as a $5.7 million sale on January 15, 2026, and a $5.3 million transaction on September 5, 2025. Smaller but frequent sales, including a $102,900 trade on March 4, 2026, and a $715,100 sale on February 20, 2026, suggest an ongoing divestment strategy rather than isolated exits.
The transactions reveal a concentrated focus on JOE, with no diversification across other securities in the reported period. The pattern shows no recent buying activity, reinforcing a clear directional trend toward reducing exposure. While the sales vary in size—from minor dispositions like a $70,740 trade on March 10, 2025, to multimillion-dollar exits—the absence of acquisitions indicates a sustained effort to unwind holdings. The timing of sales does not suggest a single liquidation event but rather a phased withdrawal, with notable clusters in August 2025 and early 2026. Berkowitz’s trading history, as disclosed in SEC filings, reflects a decisive and prolonged reduction in his position in JOE.
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