A welcome sign at Berkshire Hathaway's annual meeting featuring Warren Buffett (left) and Greg Abel. Theron Mohamed/Business Insider

Berkshire Hathaway posted its first quarterly earnings without Warren Buffett in charge on Saturday.

New CEO Greg Abel followed Buffett's lead by selling stocks and building a record cash pile.

Abel will take questions from Berkshire shareholders on Saturday at his first annual meeting as CEO.

Greg Abel 's tenure as Berkshire Hathaway's CEO is off to a robust start.

Abel, who succeeded Warren Buffett at the start of this year, oversaw a 17% jump in operating earnings to $11.3 billion in the three months to March 31, Berkshire's first quarter earnings report revealed on Saturday.

Berkshire posted strong growth in insurance-underwriting profits, and higher earnings across its BNSF Railway, Berkshire Hathaway Energy, and manufacturing, service, and retailing units.…