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.