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The 1995 Berkshire Hathaway Annual Report outlines the company’s diverse operations as a holding company led by Warren Buffett and Charlie Munger. It emphasizes the central role of the insurance group, particularly the strategic acquisition of GEICO and the value of "float" in funding high-return investments. Beyond insurance, the report details varied holdings in industries such as jewelry, furniture, and footwear, while introducing a recapitalization plan to create Class B shares. Throughout the text, management articulates a partnership-based philosophy characterized by long-term capital allocation, managerial autonomy, and a preference for businesses with sustainable competitive advantages. The document also provides comprehensive financial statements and auditing data to verify the firm's significant growth in intrinsic value and net worth.