SCHEDULE: Berkshire Hathaway Maintains Significant VeriSign Stake

Warren Buffett's Berkshire Hathaway and its affiliates report a continued 9.7% passive ownership stake in VeriSign, Inc. as of September 30, 2025.

Summary

• Warren E. Buffett and Berkshire Hathaway Inc. collectively beneficially own 8,989,880 shares of VeriSign, Inc. common stock.
• This represents a 9.7% ownership stake in VeriSign, Inc.
• The shares are held with shared voting and shared dispositive power by the reporting persons.
• Key affiliates holding significant portions include National Indemnity Company (8,016,933 shares, 8.6%), GEICO Corporation (8,016,933 shares, 8.6%), and Government Employees Insurance Company (8,016,933 shares, 8.6%).
• Additional affiliates, BNSF Master Retirement Trust (515,032 shares, 0.55%), Scott Fetzer Company Collective Investment Trust (95,100 shares, 0.1%), and Precision Castparts Corp. Master Fund (362,815 shares, 0.39%), also contribute to the aggregate beneficial ownership.
• The filing is an Amendment No. 5 to a previous Schedule 13G filing.
• The reporting persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of VeriSign.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of beneficial ownership by a major institutional investor group. It indicates a continued, passive stake in VeriSign, which can be seen as a vote of confidence, but it does not contain new operational or financial information to significantly alter sentiment.

Positives

• Continued significant investment by Warren Buffett and Berkshire Hathaway, signaling long-term confidence in VeriSign's business model and prospects.
• The passive nature of the investment (not seeking control) suggests stability and a belief in current management and strategic direction.

Future Outlook

NA

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

VeriSign operates critical internet infrastructure, primarily managing the .com and .net top-level domains. A long-term, passive investment by Berkshire Hathaway suggests a view of VeriSign as a stable, essential utility-like business with predictable cash flows, aligning with Buffett's investment philosophy for companies with strong moats.

Stakeholder Impact

• Shareholders: The continued significant, passive stake by Berkshire Hathaway may reassure other investors about VeriSign's long-term stability and value proposition. It signals a lack of immediate activist intent, which can be positive for management stability.
• Management: Confirms that a major investor is not seeking to influence control, allowing management to focus on current strategic plans without immediate external pressure.

Next Steps

• Future Schedule 13G amendments will be filed if there are significant changes in beneficial ownership (e.g., crossing a 1% threshold up or down, or changing intent from passive to active).

Key Dates

Recommendation

This Schedule 13G filing primarily confirms a long-standing, passive ownership stake by Berkshire Hathaway. While the presence of such a prominent investor can be seen as a positive signal of long-term value, the filing itself does not contain new operational, financial, or strategic information that would warrant a change in investment recommendation. It simply reiterates a known position. Therefore, a "hold" recommendation is appropriate, maintaining existing positions based on prior analysis of VeriSign's fundamentals, as this filing provides no new catalysts for a buy or sell decision.

Keywords

VeriSign, VRSN, Berkshire Hathaway, Warren Buffett, National Indemnity, GEICO, beneficial ownership, Schedule 13G, SEC filing, common stock, institutional investment, passive investment