Warren Buffett’s Berkshire Hathaway built a new stake in Domino’s Pizza last quarter, according to a regulatory filing Thursday. The Omaha-based conglomerate bought more than 1.2 million shares of the pizza chain for a stake worth about $550 million at the end of September. Given its small size in Berkshire’s portfolio, Buffett’s investing lieutenants Ted Weschler and Todd Combs could be behind the investment. The world’s largest pizza chain fell short of Wall Street estimates for third-quarter comparable sales growth in the U.S. as competition for cost-conscious customers continued to ramp up. Shares of Domino’s have underperformed the broader market this year, up just 6%. The S & P 500 has gained nearly 25% in 2024. Berkshire also took a small stake in swimming pool supplier Pool Corp last quarter. The holding was worth about $152 million at the end of the third quarter. It could be another value bet as Pool shares have lost 10% this year. This is breaking news. Please check back for updates.
