Berkshire Hathaway Inc. is a Delaware-domiciled holding company headquartered in Omaha, Nebraska, that owns subsidiaries across a wide range of industries. Its most important operations are its primary and reinsurance insurance businesses (including GEICO and Berkshire Hathaway Reinsurance), the BNSF freight-rail transportation business, and the Berkshire Hathaway Energy group of regulated utilities. Berkshire also owns dozens of manufacturing, service and retailing businesses and holds one of the largest equity-securities portfolios in the world. The company is run on an unusually decentralized basis, with capital allocation and major investment decisions directed centrally by its chief executive officer.