Investing

Warren Buffett’s Berkshire Hathaway reveals new stake in furniture retailer RH, shares surge

Berkshire Hathaway owned 1.2 million shares of furniture retailer RH, formerly known as Restoration Hardware, at the end of the third quarter, according to a filing with the Securities and Exchange Commission.

Shares of RH surged more than 6% in premarket trading on Friday. The stock has rallied 41% this year.

Warren Buffett’s conglomerate also revealed a new stake in Occidental Petroleum worth around $332 million, according to the company’s 13-F filing. The filing documents the company’s holdings as of end of September.

The filing showed Berkshire decreased its stake in Wells Fargo by 7.7% to about 378 million shares. Berkshire also trimmed its Phillips 66 stake by 6.7% to 5.2 million shares worth around $530 million, according to the filing.

Berkshire maintained its positions in Bank of America, Delta Air Lines, Bank of New York Mellon and Coca-Cola. It also owned 325 million shares of Kraft Heinz by the end of September.

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