Warren Buffett’s Berkshire Hathaway said Thursday it made new investments in Domino’s Pizza and Pool Corp. in the third quarter, even as it retreated from stocks like Apple and Bank of America.

Berkshire owned 1.28 million Domino shares worth about $549 million as of September 30. It also owned 404,000 shares of Pool, a pool supplies distributor, worth about $152 million at that date.

The investments were disclosed in a Securities and Exchange Commission filing detailing Berkshire’s U.S.-listed investments as of September 30.

Shares of Domino’s rose 6.9% and shares of Pool rose 5.7% after trading hours following Berkshire’s revelations.

Stocks often rise after Berkshire announces new investments, reflecting investors’ belief that Buffett may be issuing a seal of approval.

Thursday’s filing does not indicate whether Buffett or his portfolio managers Todd Combs and Ted Weschler are responsible for individual investments.

Neither Domino’s nor Pool immediately responded to requests for comment.

Like chains like McDonald’s, Domino’s is increasingly running promotions to attract value-oriented diners, including those who eschew pricier sit-down chains in favor of upscale fast food or home delivery.

Pool said last month that demand for non-discretionary repair and maintenance services for existing pools partially offset “soft” demand for new pool construction.

Berkshire made the investments while Buffett amassed money.

It in Omaha, Neb. established conglomerate nearly doubled its cash and equivalents stake in 2024 to $325.2 billion as of September 30, and even halted share buybacks for the first time since 2018.

Berkshire sold $36.1 billion worth of stock and bought just $1.5 billion in the quarter ended September 30. This year, Berkshire has sold $133.2 billion worth of stock — mostly Apple, followed by Bank of America — and bought just $5.8 billion.

Buffett hasn’t definitively said why Berkshire is cutting back, though taxes could be a factor. Investors have said he thinks valuations have become too high.

The money also gives Berkshire, whose market value is about $1.01 trillion, room to still make an acquisition while Buffett, 94, remains in charge.

During the quarter, Berkshire also expanded its stake in aircraft parts manufacturer Heico.

It sold its entire stake in flooring retailer Floor & Decor and some shares of Capital One, Charter Communications, Brazilian digital banker Nu Holdings and cosmetics chain Ulta Beauty.

The sale of more than 96% of Ulta stock marked a quick turnaround for Berkshire, which first announced its investment in Ulta in August. Ulta shares fell 3.8% after hours.

Berkshire also owns dozens of companies, including Geico auto insurance, the BNSF railroad and a variety of consumer, energy, industrial and retail companies.