New Relic and Rails app, she slow part in the output

I have a Rails application with the following output from the New Relic app:

Category    Segment % Time  Avg calls (per txn) Avg time (ms)
Controller  Api::PostsController#index  94.5    1.0 399
ActiveRecord    Combination#find    1.6 0.385   6.58
ActiveRecord    Post#find   1.1 1.62    4.64
ActiveRecord    User#find   0.8 2.23    3.56
ActiveRecord    Tag#find    0.5 1.38    2.12
ActiveRecord    Vote#find   0.4 1.36    1.54
ActiveRecord    Comment#find    0.3 1.0 1.23
ActiveRecord    Photo#find  0.3 1.0 1.3
ActiveRecord    PostTag#find    0.3 1.0 1.19
ActiveRecord    UserBadge#find  0.2 1.0 0.995
Database    SQL - SELECT    0.0 0.59    0.162

If all active record queries are only 5% of the time, where can be the other 95% of the time? I have cache in my app but for now it's not Redis, but it's File Store cache. Is it possible 95% of the time to be fetching the data from the File Store Cache?