Warren Buffett’s Berkshire Hathaway built a new stake in Domino’s Pizza last quarter, according to a regulatory filing on Thursday. The Omaha conglomerate bought more than 1.2 million shares of the pizza chain in late September for a stake of about $550 million. Given the small size of Berkshire’s portfolio, Buffett’s lieutenant investors Ted Weschler and Todd Combs may be behind the investment. After the news, shares of Domino’s rose more than 8% in after-hours trading. The world’s largest pizza chain missed Wall Street’s estimates for comparable sales growth in the U.S. for the third quarter as competition from cost-conscious customers intensified. Domino’s shares have underperformed the broader market this year, by just 6%. The S&P 500 has gained almost 25% in 2024. By buying Pool, in addition to selling Ulta Berkshire, Pool Corp. It took a small stake in the pool supplier last quarter. The holding was worth about $152 million at the end of the third quarter. It could be another worthwhile bet as Pool shares have lost 10% this year. Also in the third quarter, Buffett’s holding company nearly undid its new bet on Ulta, selling nearly 97% of the stock. Berkshire recently bought back shares in the second quarter. Ulta’s shares were up just 0.8% in the third quarter, after falling 26% in the previous period. Berkshire previously disclosed sales of major Apple and Bank of America shares. Most of its large holdings were unchanged in the last quarter.
