Warren Buffett's Berkshire Hathaway sold a net $10 billion of stocks last quarter - but ramped up buybacks to over $4 billion

• Warren Buffett's Berkshire Hathaway reported first-quarter earnings on Saturday.
• Buffett's company sold $10.4 billion of stock on a net basis, and spent $4.4 billion on buybacks.
• Berkshire's operating earnings jumped as insurance strength offset railroad and utility weakness.

Warren Buffett's Berkshire Hathaway pared its stock portfolio in the first quarter, the company's earnings revealed on Saturday.

The famed investor's conglomerate dumped $13.3 billion of stocks, and only bought $2.9 billion worth, meaning it sold $10.4 billion of equities on a net basis.