Warren Buffett’s Berkshire Hathaway sold a net $4 billion of stock and slowed buybacks in the 1st quarter

Warren Buffett’s Berkshire Hathaway sold a net $4 billion of stock and slowed buybacks in the 1st quarter

warren buffett
Warren Buffett.

REUTERS/Rick Wilking

  • Warren Buffett’s Berkshire Hathaway sold stocks and reduced buybacks last quarter.
  • The famed investor’s company cashed out a net $3.9 billion of equities.
  • Berkshire also bought back $6.6 billion of stock, down from about $9 billion last quarter.
  • See more stories on Insider’s business page.

Warren Buffett’s Berkshire Hathaway was a net seller of stocks and reduced its share buybacks last quarter, suggesting the famed investor struggled to find bargains as markets flirted with record highs.

The billionaire’s conglomerate owns businesses such as Geico and See’s Candies, as well as multibillion-dollar stakes in Apple, Coca-Cola, and other public companies. Its first-quarter earnings on Saturday showed that revenue rose 5% year-on-year to about $64.6 billion in the three months to March 31, driving operating earnings up 20% to $7 billion.

Berkshire sold a net $3.9 billion in equities last quarter, as it bought $2.6 billion of stock and sold $6.5 billion worth in the period. That suggests Buffett and his team made few changes to their stock portfolio compared to last year, when they bought an average of $7.5 billion of stock and sold close to $10 billion each quarter. Berkshire will discl

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