Berkshire's newfound craving for Domino's translated into a 1.28 million share stake worth approximately $549 million as of September 30th.

Warren Buffett’s Berkshire Hathaway has taken a new position in Domino’s Pizza Inc. while continuing to pare back its investment

Berkshire Hathaway initiated these new positions during the third quarter even as it cut back its holdings of big names like Apple and Bank of America.

Key Takeaways Domino’s Pizza shares jumped nearly 8% in extended trading on Thursday after a filing revealed that Warren Buffett’s Berkshire Hathaway had taken a stake in the world’s largest pizza chain.

Berkshire Hathaway Inc. bought stock in Domino’s Pizza Inc. and Pool Corp. during the third quarter as Chairman Warren Buffett cut back on some long-held investments. Shares of the two new holdings jumped in late New York trading.

Domino’s is the only sizable new equity holding by Berkshire in the period. Domino’s shares are rising in after-market activity in an apparent reaction to the Berkshire news.

Warren Buffett's Berkshire Hathaway (BRK.A; BRK.B) took stakes in Domino's Pizza (DPZ) and swimming pool supplier Pool Corp. (POOL) in the third quarter while continuing to trim stakes in longtime holdings Apple (AAPL) and Bank of America (BAC).