FAIRHOLME FUNDS INC 4

What Happened

• Bruce R. Berkowitz, reported as a 10% owner of ST JOE Co (ticker: JOE), sold 21,100 shares in an open-market transaction on March 17, 2026. The shares were sold at $72.22 each for a total of $1,523,842. This was a sale (not a purchase), which is often routine and does not by itself indicate company outlook.

Key Details

• Transaction date: 2026-03-17 (reported on Form 4 filed 2026-03-19)
• Transaction type/code: Open-market sale (S)
• Price per share: $72.22
• Total proceeds: $1,523,842
• Shares owned after transaction: Not specified in the provided data (see the Form 4 for full holdings)
• Footnotes:
  • F1: Notes the transaction involved securities held by The Fairholme Fund; Berkowitz controls the sole member of Fairholme Capital Management and may be deemed to have beneficial ownership, though he and Fairholme disclaim beneficial ownership except to the extent of any pecuniary interest.
  • F2: States the reported securities are directly owned by Mr. Berkowitz.
• Filing timeliness: Form 4 filed on 2026-03-19 for a 2026-03-17 trade — appears to be filed within the required two business days.

Context

• As a reported 10% owner, Berkowitz's trades can reflect institutional-level activity (via Fairholme) rather than routine insider compensation-related transactions. Sales are common and do not necessarily imply a negative view; consider this trade alongside other insider activity and company fundamentals.