Berkshire Hathaway Shifts Focus: Domino’s Pizza and Pool Corp Shares Acquired

In the third quarter, Warren Buffett’s Berkshire Hathaway continued to reduce its holdings in long-standing companies Apple and Bank of America while acquiring shares in Domino’s Pizza and pool supplier Pool Corp. As he increases Berkshire’s already substantial cash holdings, Buffett continues to be a net seller of equities, according to a series of shareholding revisions revealed in regulatory records submitted late Thursday. Earlier this month, the conglomerate revealed that the majority of its $288 billion cash pile was invested in short-term Treasury notes, which caused it to soar to a record $320.3 billion from $271.5 billion in the second quarter.

Buffett Sells 25% of Apple Stake as Domino’s and Pool Corp Gain Traction

After the quarter, Berkshire purchased around 1.3 million Domino’s Pizza shares for almost $550 million. Additionally, the company expanded its holdings by adding 404,000 shares, valued at $152 million, in Pool Corp. Following the announcement of the investments to the public, Domino’s and Pool shares surged during extended trading on Thursday.

According to the disclosure on Thursday, Buffett sold precisely 25% of his massive Apple stake. Although the sale had not yet been formally announced to the public, it was hinted at in Berkshire’s third-quarter earnings report earlier this month. From around $175 billion at the beginning of the year to roughly $70 billion at the end of September, Berkshire has gradually reduced its ownership in the iPhone manufacturer. Nevertheless, over 25% of Berkshire’s $266 billion stock holdings are in Apple.

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