FAIRHOLME FUNDS INC 4

What Happened Bruce R. Berkowitz, reported as a 10% owner of ST JOE Co (ticker: JOE), sold 1,400 shares in an open‑market sale on March 4, 2026 at $73.50 per share, generating proceeds of $102,900. This was a sale (not a purchase), which is often routine and does not by itself signal a change in company outlook.

Key Details

• Transaction date and price: 2026-03-04 — 1,400 shares sold at $73.50 per share.
• Total proceeds: $102,900.
• Shares owned after transaction: Not specified in the provided filing summary.
• Footnotes of note: The filing indicates securities may be held by The Fairholme Fund (managed by Fairholme Capital Management, which Mr. Berkowitz controls) and also notes some reported securities are directly owned by Mr. Berkowitz; the filing disclaims beneficial ownership except for any pecuniary interest.
• Filing timeliness: Reported on 2026-03-06 for a 2026-03-04 transaction — filed within the standard Form 4 reporting window (not marked late).

Context As a reported 10% owner, Berkowitz’s trades may reflect institutional or manager-level decisions tied to Fairholme-related holdings as well as any personal holdings; the filing’s footnotes clarify potential overlap and include a disclaimer of beneficial ownership except to the extent of any pecuniary interest. Sales are generally less informative than purchases for signaling insider confidence, and this single, relatively small sale should be viewed as a factual disclosure rather than a definitive indicator of sentiment.