Berkshire bought 1,277,256 shares of the global pizza delivery chain, which were worth $550 million at the end of the quarter. Domino's shares soared on the news after hours on Thursday, which is typical when Buffett's company buys a new stock. Domino's finished the after-hours session up 7.8%.

Warren Buffett's Berkshire Hathaway bet on Domino's Pizza and Pool Corp. last quarter, and both stocks fit well in its portfolio.

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

Warren Buffett's Berkshire Hathaway said on Thursday it made new investments in Domino's Pizza and Pool Corp in the third quarter, even as it retrenched from stocks such as 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.

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. Monitor these important chart levels.

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.

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.

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).

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.