Warren Buffett’s Berkshire Hathaway acquired a stake in Domino's Pizza Inc (NYSE:DPZ) during the third quarter while cutting back on other investments, a filing with the Securities and Exchange Commission (SEC) on Thursday has revealed.
Berkshire purchased 1.3 million shares of Domino’s, worth about $550 million in the three months ended September 30, 2024.
It also added more than 400,000 shares of pool equipment wholesaler Pool Corp (NASDAQ:POOL), valued at about $152 million.
Shares of Dominos added 1.7% at $443 on the news, while Pool Corp added 1.5% at about $363.
This comes as Berkshire boosted its cash pile to $325.2 billion during Q3 after selling $36.1 billion worth of stock.
This included selling a quarter of its stake in Apple Inc (NASDAQ:AAPL, ETR:APC), bringing its position to $69.9 billion. This is down by almost two-thirds from its $174.3 billion stake held at the start of the year.
The company has also offloaded about $10 billion of its holdings in Bank of America Corp (NYSE:BAC) starting in mid-July and most of its interest in the beauty retailer Ulta Beauty Inc (NASDAQ:ULTA).