FAIRHOLME FUNDS INC 4

What Happened
Bruce R. Berkowitz, reported as a 10% owner, sold a total of 121,700 shares of ST JOE Co (JOE) across three transactions in early June 2026. The trades were reported as sales (S) and generated aggregate proceeds of approximately $7,925,347. Individual trades: 59,100 shares at $65.09, 33,600 shares at $65.18, and 29,000 shares at $65.12.

Key Details

• Transaction dates & prices:
  • 2026-06-04: 59,100 shares @ $65.09 — $3,846,819
  • 2026-06-05: 33,600 shares @ $65.18 — $2,190,048
  • 2026-06-08: 29,000 shares @ $65.12 — $1,888,480
• Total sold: 121,700 shares for ~$7,925,347.
• Filing: Form 4 filed 2026-06-08 reporting transactions dated June 4–8; this appears timely (Form 4s are generally due within two business days).
• Shares owned after the transactions: Not provided in the supplied filing excerpt.
• Footnotes: The filing notes some securities were held by The Fairholme Fund (managed by Fairholme Capital Management) and some were directly owned by Mr. Berkowitz. Both Fairholme and Mr. Berkowitz disclaim beneficial ownership except for any pecuniary interest.

Context
These were sales (not purchases), which are often routine for large shareholders or funds and do not by themselves indicate the insider’s view of the company’s prospects. As a reported 10% owner tied to an investment manager (Fairholme), some trades reflect fund activity rather than individual executive trading.