Berkshire Hathaway invests in home furnishings company RH

Berkshire Hathaway invests in home furnishings company RH | Insurance Business

Berkshire Hathaway invests in home furnishings company RH

Berkshire Hathaway has revealed that it has invested in RH, the luxury furniture and home furnishings company once known as Restoration Hardware.

RH, an American upscale home-furnishings company founded in 1979, operates outlet stores in both the US and Canada.

According to a regulatory filing which listed Berkshire’s US-listed stocks as of September 30, 2019, the insurer owned about 1.21 million RH shares worth US$206.3 million. Reuters reported that RH shares rose 6.7% in after-hours trading following the disclosure.

The furnishings company’s share price has also more than doubled since the end of May.

The regulatory filing also revealed that Berkshire owns 7.47 million common shares of Occidental Petroleum – less than two months after purchasing US$10 billion of preferred stock to help Occidental Petroleum purchase competitor Anadarko Petroleum.

Reuters said that investors typically watch Berkshire Hathaway’s quarterly filings for signs as to where Buffett and his portfolio managers – Todd Combs and Ted Weschler – see value.