STORY: Warren Buffett’s appetite these days consists of more pizza and less Apple – at least when it comes to stocks.
His Berkshire Hathaway disclosed in regulatory documents that the Omaha-based conglomerate made a new investment in Domino’s Pizza, while continuing to trim its position in Apple.
The SEC filing showed that Berkshire owned nearly 1.3 million shares of Domino’s, worth about $549 million, as of Sept. 30.
Berkshire also took a dip into Pool Corp., amassing about $152 million dollars worth of shares in the swimming pool supplies distributor.
On the flip side, Berkshire said it has sold more than $133 billion worth of stocks this year — primarily Apple, followed by Bank of America – as Buffett continues to amass cash.
Buffett hasn’t said definitively why Berkshire is cutting back on stocks, though taxes may be a factor. Investors have said he may believe valuations have grown too high.
The cash also gives Berkshire, whose market value is about $1 trillion, room to still make a needle-moving acquisition while the 94-year-old Oracle of Omaha remains in charge.
