Warren Buffett's Berkshire Hathaway Slashes Apple, BofA Holdings, Adds Domino's Pizza In Q3

Billionaire investor Warren Buffett cut several of Berkshire Hathaway Inc‘s BRK BRK largest holdings this year.

The Omaha, Nebraska-based holding company’s latest 13F filing shows that the sell-off trend continues.

What Happened: Berkshire’s latest 13F filing, filed on Thursday, reflects the company’s largest holdings as of September 30.

Buffett reduced his stake in Apple Inc. AAPL from 400 million to 300 million shares. Thus, Berkshire has now cut its position in the Cupertino, California-based tech giant by over two-thirds since 2023’s third quarter.

The Omaha “oracle” also continued to cut his stake in Bank of America Corp BAC, trimming back another 23% of Berkshire’s position.

Berkshire cut nearly all of its position in Ulta Beauty Inc ULTA. Buffett revealed a position in the cosmetic store chain in August; the company’s stock has performed roughly even since then. Buffett’s Ulta holding period was unusually short for the famed value investor.

Meanwhile, Buffett added a couple of fresh faces to Berkshire’s portfolio.

Buffett bought 1,277,256 shares of Ann Arbor, Michigan-based pizza chain Domino’s Pizza Inc DPZ. He also made a foray into pool equipment, buying 404,057 shares of Pool Corp POOL.

Price Action: Investors quickly reacted to Berkshire’s 13F filing after hours:

• Dominoes Pizza shares traded up nearly 7%.
• Pool Corp shares traded up nearly 6%.
• Ulta Beauty shares fell over 4%.
• Apple and Bank of America shed insignificant portions of their market value.

Why it Matters: During Berkshire’s annual shareholder meeting in May, Buffett hinted that his sell-offs were a result of tax implications.

This has not stopped investors’ conjecture that Buffett is perhaps bearish on the market at large.

Alternatively, Buffett could be simply trimming positions that take up an outsized portion of Berkshire’s portfolio to reduce exposure.

Also Read:

• Trump Plans To Erase EV Tax Credit: Tesla Analyst Says It’s ‘Net Bullish,’ Calls Sell-Off ‘Wrong Knee-Jerk Reaction’

Image via Flickr