Legendary investor Warren Buffett has opened new positions in the stocks of Domino’s Pizza (DPZ) and Pool Corp. (POOL).
Buffett acquired the new stakes through the holding company he runs, Berkshire Hathaway (BRK.A / BRK.B), during the year’s third quarter.
Berkshire bought 1.3 million shares of Domino’s, giving Buffett a 3.6% stake in the pizza retailer that’s valued at $550 million U.S.
Buffett’s company has also taken a 1% stake in pool equipment wholesale distributor Pool Corp. that’s valued at $152 million U.S.
Both Domino’s Pizza and Pool Corp. stocks jumped in after-hours trading on news of Berkshire Hathaway’s stakes.
Domino’s Pizza stock rose 8%, while the share price of Pool Corp. increased 6%.
The new stakes are a surprise given that Buffett has spent most of this year reducing some of his largest positions, notably in Apple (AAPL) and Bank of America (BAC).
Berkshire Hathaway continued to sell stocks in Q3 of this year. The company was a net buyer of $1.5 billion U.S. of stocks while selling $36 billion U.S. of equities.
Berkshire sold nearly all its stake in Ulta Beauty (ULTA) that it had accumulated earlier this year.
The company also trimmed stakes in Charter Communications (CHTR), Nu Holdings (NU), and Capital One (COF). It exited its entire stake in Floor & Décor (FND).
The stock sales have swelled Berkshire Hathaway’s cash pile to a record $325.2 billion U.S. Berkshire Hathaway owns a massive stock portfolio that is valued at $294.56 billion U.S.
The company’s more affordable Class B shares have risen 29% this year to trade at $467.70 U.S.