Warren Buffett's Berkshire Hathaway took stakes in Domino's Pizza and swimming pool supplier Pool Corp. in the third quarter while continuing to trim stakes in longtime holdings Apple and Bank of America.

The insurance titan released its 3rd-quarter portfolio update, revealing new buys in a pizza chain company and a pool supplies company.

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.

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 made bold moves in the third quarter, adding stakes in Domino’s Pizza and Pool Corp., while continuing to shed holdings in Apple and Bank of America. Domino’s Pizza and Pool Corp. shares, worth $550 million and $152 million respectively, surged in after-hours trading following the announcement.

Warren Buffett's Berkshire Hathaway (BRK-A, BRK-B) recently disclosed stakes in Domino's Pizza (DPZ) and Pool Corp. (POOL). Berkshire bought 1.3 million shares in Domino’s — now a 3.6% stake, valued at $550 million following recent comments and stronger-than-expected retail sales — and a 1% stake in Pool Corp,

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.

Domino’s is seen taking more market share as it promotes its value deals and boosts sales through new delivery partnerships.