Berkshire Hathaway Sells $1.2 Billion of VeriSign Shares and Records $5 Billion Impairment on Kraft Heinz

Berkshire Hathaway has divested approximately $1.2 billion worth of VeriSign (VRSN) shares, according to a recent SEC filing. The sale, executed on July 30 through a Berkshire subsidiary, involved the disposal of 4.3 million shares, reducing its holdings to 8 million shares, with some interests retained in pension plans of other Berkshire units. The move reflects a strategic adjustment, as VeriSign's stock has declined by 8.2% over the past month, underperforming the broader market. In addition, Berkshire Hathaway reported a $5 billion impairment on its investment in Kraft Heinz (KHC) during the second quarter. The company revalued its 27.4% stake, decreasing its book value from $13.5 billion to $8.4 billion, resulting in a $3.8 billion after-tax reduction in net earnings. Kraft Heinz has been underperforming relative to its peers and is reportedly exploring strategic options, including potential breakup scenarios. This impairment marks the second write-down related to Kraft Heinz since 2019, coinciding with leadership transitions at Berkshire and resignations of two Berkshire-appointed board members in May. The earnings report for Q2 showed a 4% decline in operating income to $1...