FAIRHOLME FUNDS INC 4

What Happened

• Bruce R. Berkowitz, reported as a 10% owner, sold 140,400 shares of ST JOE Co (JOE) on June 18, 2026. The shares were disposed at $65.71 each for total proceeds of $9,225,684. This was a sale (not a purchase), which for insiders is often routine portfolio or fund activity rather than a direct signal about company fundamentals.

Key Details

• Transaction date and price: 2026-06-18, sale at $65.71 per share.
• Quantity and proceeds: 140,400 shares sold for $9,225,684 total.
• Filing date: Form 4 filed 2026-06-23 (5 days after the trade); Form 4s are generally due within 2 business days, so this filing appears later than typical.
• Shares owned after transaction: Not disclosed in the information provided.
• Footnotes:
  • F1: The Fairholme Fund (managed by Fairholme Capital Management) holds securities that may be deemed beneficially owned by Mr. Berkowitz due to his control of Fairholme’s sole member; Mr. Berkowitz and Fairholme disclaim beneficial ownership except for any pecuniary interest.
  • F2: The reported securities are directly owned by Mr. Berkowitz (per the filing).

Context

• This report concerns a 10% owner and includes fund-related holdings; such sales can reflect institutional/fund-level rebalancing rather than executive sentiment. No options, awards, or gifts were involved in this reported transaction.