13D Filing: Fairholme (FAIRX) and St Joe Co (JOE)

CUSIP No.	790148100

Item 1.

Security and Issuer.

	No material changes from the Schedule 13D filed by the Reporting Persons on October 14, 2010.

Item 2.

Identity and Background.

No
material changes from the Schedule 13D filed by the Reporting Persons on October 14, 2010.

Item 3.

Source and Amount of Funds or Other Consideration.

	No material changes from the Schedule 13D filed by the Reporting Persons on October 14, 2010.

Item 4.

Purpose of Transaction.

No
material changes from the Schedule 13D filed by the Reporting Persons on April 26, 2017.

Item 5.	Interest in Securities of the Issuer.

(a-e)
As of the date hereof, Fairholme may be deemed to be the beneficial owner of 26,524,885 Shares (37.7%) of the Issuer, the
Fund may be deemed to be the beneficial owner of 23,441,502 Shares (33.3%) of the Issuer and Mr. Berkowitz may be deemed to
be the beneficial owner of 26,524,885 Shares (37.7%) of the Issuer, based upon the 70,432,071 Shares outstanding as of July
31, 2017, according to the 10-Q filed by the Issuer on August 3, 2017. Of the 23,441,502 Shares deemed to be beneficially owned by the Fund, 23,136,502 are owned by the Fairholme
Fund and 305,000 are owned by The Fairholme Allocation Fund, each a series of the Fund.

Fairholme has the sole
power to vote or direct the vote of 0 Shares, the Fund has the sole power to vote or direct the vote of 0 Shares and Bruce R. Berkowitz
has the sole power to vote or direct the vote of 0 Shares to which this filing relates. Fairholme has the shared power to vote
or direct the vote of 23,931,602 Shares, the Fund has the shared power to vote or direct the vote of 23,441,502 Shares and Mr.
Berkowitz has the shared power to vote or direct the vote of 23,931,602 Shares to which this filing relates.

Fairholme has the sole
power to dispose or direct the disposition of 0 Shares, the Fund has the sole power to dispose or direct the disposition of 0 Shares
and Mr. Berkowitz has the sole power to dispose or direct the disposition of 0 Shares to which this filing relates. Fairholme has
the shared power to dispose or direct the disposition of 26,524,885 Shares, the Fund has the shared power to dispose or direct
the disposition of 23,441,502 Shares and Mr. Berkowitz has the shared power to dispose or direct the disposition of 26,524,885
Shares to which this filing relates.

The
transactions effected in the Shares during the 60 days prior to the date of this filing are set forth in Exhibit B and each
transaction was an open-market transaction.

The Reporting Persons
specifically disclaim beneficial ownership in the Shares reported herein except to the extent of their pecuniary interest therein.