Warren Buffett’s Berkshire Hathaway made a major move, selling off nearly $1.23 billion worth of Verisign stock.
Verisign Sale
The sale involved 4.3 million shares of the internet infrastructure company, at a price of $285 per share. This happened after Verisign’s stock saw some recent dips—down 3.78% in the last 24 hours and 7.61% over the past five days, although it’s still up 29% for the year.
New Investments
This Verisign sale came after Berkshire Hathaway added several new stocks to its portfolio in the first quarter of the year. These included:
- POOLCORP (POOL): Berkshire bought 865,311 shares for about $262 million.
- Constellation Brands (STZ): A much larger purchase of 6,384,676 shares, costing roughly $961 million.
- Domino’s Pizza (DPZ): Berkshire acquired 238,613 shares for approximately $204 million.
- Heico Corporation (HEI): A smaller investment of 112,401 shares, worth about $50 million.
Mixed Results
The performance of these new investments has been varied. POOL is down 8.42% for the year, and STZ is down a significant 22.42%. On the other hand, DPZ is up 13.25%, and HEI is doing quite well, up 36.8%.