Berkshire Hathaway has taken stakes in Domino’s and Pool Corp
Warren Buffett’s Berkshire Hathaway (BRK) is making more unconventional moves. Per the latest SEC regulatory filing, the company took stakes in Domino’s Pizza Inc (NYSE:DPZ) and Pool Corp (NASDAQ:POOL). Buffett also continued his strategic reductions to Apple (AAPL) and Bank of America (BAC) stakes, the fourth-straight quarter he’s reduced his Apple exposure, as the Oracle of Omaha loads up on cash. AAPL was last seen 1.4% lower to trade at $224.99, while BAC is up 1% to trade at $46.33.
Berkshire acquired nearly 1.3 million DPZ shares worth nearly $550 million at the end of the quarter. At last check, the stock was only 0.2% higher to trade at $436.91, but earlier traded as high as $460.23 out of the gate. The equity is 6.9% higher in 2024.
Buffett’s Pool Corp stake came out to 404,000-shares, worth $152 million. POOL traded as high as $378.81 at the open, but has since cooled off at $364.76. The shares have consolidated below the $380 level all fall, an area that has served as a ceiling since May. Year-to-date, the stock is down 8.5%.
Both DPZ and POOL have moderate short squeeze potential; a healthy 6% and 8.5% of the stock’s total available floats, respectively, is sold short.