So Warren Buffett really went out with a statement. After stepping down as CEO of Berkshire Hathaway on December 31st, 2025, handing things over to Greg Abel, the quarterly filings that just dropped are telling us exactly what the Oracle of Omaha was thinking in his final months running the show.

The big headline? He was aggressively selling stocks. For 13 consecutive quarters leading up to his retirement, Buffett had been a net seller — and that includes some serious Apple liquidation. We're talking about dumping 75% of Berkshire's once-massive stake in the iPhone maker. Back in September 2023, the company held over 915 million Apple shares. By the time Buffett stepped away, that number had shrunk to around 238 million. Even in his final quarter as CEO, he unloaded another 10 million shares.

Now, Buffett had always been vocal about why he loved Apple — not the AI hype everyone else was chasing, but the customer loyalty and that legendary share buyback program. Since 2013, Apple's repurchased over 44 billion dollars worth of stock. But here's the thing: the valuation just didn't make sense anymore. When Buffett first bought in 2016, Apple was trading at 10-15 times earnings. By early 2026, that multiple had ballooned to 34.5. For a value investor like Buffett, that's a red flag. Plus, iPhone sales had basically flatlined for three years while subscription revenue grew at a steady clip. The math just wasn't there.

There's also the tax angle. During Berkshire's 2024 shareholder meeting, Buffett had hinted that corporate tax rates were likely headed higher. Selling Apple stock while sitting on those massive unrealized gains? Smart positioning for what's coming.

But here's what's more interesting than the Apple exit: what Buffett was actually buying. While everyone was talking about his New York Times position, his most consistent move was loading up on Domino's Pizza. For six straight quarters, he kept buying. By the end of his tenure, Berkshire had accumulated a 9.9% stake — over 3.3 million shares.

Why Domino's? Start with the trust factor. Back in the late 2000s, the company took a huge risk with its marketing — basically admitting their pizza wasn't great and committing to do better. For the last 15+ years, that transparency has paid off. The stock is up 6,700% since going public in 2004, dividends included. That's not luck; that's a business model that works.

Then there's the international play. Domino's just reported 1.9% same-store sales growth overseas for 2025, marking 32 consecutive years of positive growth in international markets. That's the kind of consistency Buffett always loved. Add in steady buybacks, dividends, and a forward P/E of under 19 — which is trading at a 31% discount to its five-year average — and you've got the kind of price dislocation that made Warren Buffett's eyes light up.

The company's also executing on its 'Hungry for MORE' initiative, using AI to streamline operations and improve supply chain efficiency. It's the kind of practical innovation that appeals to long-term thinkers.

So here's what this tells us about Warren Buffett selling stocks at the end of his career: he was rotating out of overvalued mega-cap tech and into a proven, reasonably-priced consumer business with global reach and shareholder-friendly capital allocation. It wasn't flashy, but it was classic Buffett — finding value where others weren't looking.