Warren Buffett's Berkshire Hathaway recently acquired a stake in Domino's Pizza, purchasing over 1.2 million shares valued at approximately $550 million. This investment was made by Buffett's investing lieutenants, Ted Weschler and Todd Combs.
Following the announcement, Domino's shares experienced a surge of over 8% in after-hours trading.
In addition to Domino's, Berkshire also made a small investment in Pool Corp., a swimming pool supplier, worth about $152 million. This move seems to be a value investment, as Pool shares have declined by 10% this year.
On the other hand, Berkshire significantly reduced its stake in Ulta Beauty, selling nearly 97% of its shares. This decision was made due to Ulta Beauty's lackluster performance, with the stock only rising 0.8% in the third quarter after a 26% drop in the previous period.
Berkshire's larger holdings, such as Apple and Bank of America, remained largely unchanged during the quarter.