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Berkshire Hathaway (NYSE: BRK.A), led by Warren Buffett, has sold about one-third of its stake in internet infrastructure and domain registry company VeriSign (NASDAQ: VRSN). VeriSign announced that Berkshire sold 4.3 million shares at $285 each, raising approximately $1.23 billion and reducing its ownership from 14.2% to 9.6%.
The move brings Berkshire’s stake below the 10% threshold, which carries additional regulatory obligations. An extra 515,032 shares may also be sold to meet investor demand, though VeriSign will not receive proceeds from the transaction. The sale price reflected a 6.9% discount to VeriSign’s prior closing price of $305.98. Shares dropped 5.9% in after-hours trading to $288 following the announcement.
As of March 31, Berkshire held about 13.29 million VeriSign shares, valued at roughly $4.07 billion before the sale. The conglomerate first invested in VeriSign in 2012, when shares traded at less than one-sixth of current levels. Berkshire, which ended March with $347.7 billion in cash, has been a net seller of stocks for 10 consecutive quarters but had added to its VeriSign holdings as recently as January.
Buffett’s technology investments are often managed by portfolio managers Todd Combs and Ted Weschler. The 94-year-old Buffett is expected to step down as CEO later this year, with Vice Chairman Greg Abel slated to succeed him while Buffett remains chairman. JPMorgan Securities underwrote the sale.
This reduction in Berkshire’s stake signals a strategic portfolio adjustment amid shifting market conditions and regulatory considerations, highlighting ongoing interest in key tech-related holdings despite broader stock sales.
