FAIRHOLME FUNDS INC 4

What Happened

• Bruce R. Berkowitz, reported as a 10% owner of ST JOE Co (JOE), sold a total of 59,700 shares in two open-market dispositions. On 2026-06-09 he sold 30,500 shares at $65.10 each (≈ $1,985,550) and on 2026-06-10 he sold 29,200 shares at $65.13 each (≈ $1,901,796), for combined proceeds of roughly $3,887,346. These transactions are coded as sales (S).

Key Details

• Dates and prices: 2026-06-09 — 30,500 shares @ $65.10; 2026-06-10 — 29,200 shares @ $65.13.
• Total shares sold: 59,700; approximate total proceeds: $3.89 million.
• Shares owned after the transactions: not specified in the information provided from the filing.
• Footnotes: The filing includes notes that some reported securities were held by The Fairholme Fund (managed by Fairholme Capital Management) and some securities are directly owned by Mr. Berkowitz. The filing disclaims beneficial ownership except to the extent of any pecuniary interest.
• Timeliness: Transaction period is 2026-06-09 and the Form 4 was filed on 2026-06-11, which appears to be within the usual two-business-day reporting window for Section 16 insiders.

Context

• These were outright sales (dispositions), which are common and do not by themselves indicate the insider’s view of the company’s prospects. As a 10% owner connected to an investment manager and a fund, some trades may reflect institutional portfolio management rather than personal trading decisions.