Warren Buffett’s Berkshire Hathaway made new investments in swimming pool supplier POOLCORP during the third quarter, while reducing its stakes in longtime holdings Apple and Bank of America.
These changes are part of a broader trend, with Buffett remaining a net seller of stocks as Berkshire increases its cash reserves. Earlier this month, the company reported a record cash balance of $320.3 billion, up from $271.5 billion in the previous quarter.
Berkshire’s new investment includes 404,000 shares of POOLCORP, valued at $152 million. News of the investment caused POOLCORP shares to rise in after-hours trading.
