From Investing.com: 2024-11-15 15:10:54

Warren Buffett’s Berkshire Hathaway made new investments in Domino’s Pizza and Pool Corp in Q3, exiting Apple and Bank of America stocks. The investments totaled $549 million in Domino’s and $152 million in Pool. The move was disclosed in an SEC filing on Sept. 30, boosting Domino’s and Pool shares after hours.

Domino’s, like McDonald’s, targets value-oriented diners with promotions. Pool Corp reported strong demand for repair services amid soft new pool construction demand. Berkshire’s cash doubled to $325.2 billion, halting stock repurchases for the first time since 2018. Buffett sold $36.1 billion in stocks in Q3, primarily Apple and Bank of America.

Investors speculate Buffett’s cash increase is due to high valuations and tax concerns. Berkshire’s market value is $1.01 trillion, allowing for a major acquisition while Buffett is at the helm. Berkshire also added to Heico holdings and sold stakes in Floor & Decor, Capital One, Charter Communications, Nu Holdings, and Ulta Beauty.

Berkshire’s quick exit from Ulta Beauty, selling over 96% of its shares, resulted in a 3.8% drop in Ulta shares after hours. The conglomerate also owns Geico, BNSF railroad, and various consumer, energy, industrial, and retail businesses. Buffett’s investment choices continue to drive market reactions and speculation.



Read more at Investing.com: Berkshire bites into Domino’s Pizza, dips into Pool amid stock retreat By Reuters