Berkshire (BRK.A, Aug. 9 -- Greg Abel spent his first full year running Berkshire Hathaway watching Warren Buffett's $397 billion cash pile shrink. He did it deliberately.

technology at scale and homebuilding. Net income attributable to Berkshire shareholders nearly doubled to $25.67 billion, powered by $12.68 billion in after-tax investment gains, as CNBC reported Saturday morning.

The numbers confirm what has been building since January. This is a different company under new management.

In the quarterly filing, Berkshire disclosed that Alphabet Inc. (GOOGL) had become its single largest equity holding as of June 30, displacing Apple Inc. after nearly a decade at the top of the portfolio. The shift traces to June, when Berkshire commi...