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TFS Financial Corp is the holding company for the Third Federal Savings and Loan Association of Cleveland. The company's ownership in the savings and loan association is its primary business activity. The association's principal business consists of originating and servicing residential real estate mortgage loans and attracting retail savings deposits. It does so by offering products with competitive rates and yields. The company also operates Third Capital, a wholly owned subsidiary that serves as a holding company or as an investor in vehicles such as private equity funds. Third Capital has interests in lease transactions of commercial buildings, title agencies providing escrow and settlement services, and reinsurance of private mortgage insurance on residential loans.

Berkshire Hathaway is a holding company with a wide array of subsidiaries engaged in diverse activities. The firm's core business segment is insurance, run primarily through Geico, Berkshire Hathaway Reinsurance Group, and Berkshire Hathaway Primary Group. Berkshire has used the excess cash thrown off from its operations to acquire Burlington Northern Santa Fe (railroad), Berkshire Hathaway Energy (utilities and energy distributors), and the companies that make up its manufacturing, service, and retailing operations (which include Precision Castparts, Lubrizol, Clayton Homes, Marmon, and IMC/ISCAR). The conglomerate is unique in that it is run on a completely decentralized basis.