Buffett's Berkshire invests in RH furniture chain, whose shares rise


Adds details about RH and Occidental investments, background

Nov 14 (Reuters) - Warren Buffett's Berkshire Hathaway Inc BRKa.N on Thursday said it has begun investing in RH RH.N, the furniture chain once known as Restoration Hardware.

Berkshire owned about 1.21 million RH shares worth $206.3 million as of Sept. 30, according to a regulatory filing detailing Berkshire's U.S.-listed stocks as of that date.

RH shares rose 6.7% in after-hours trading following the disclosure. The Corte Madera, California-based company did not immediately respond to a request for comment.

Shares of companies often rise after Berkshire announces new or increased stakes, reflecting investors' regard for Buffett and the Omaha, Nebraska-based conglomerate he has run since 1965.

Investors monitor Berkshire's quarterly filings for signs on where Buffett and his portfolio managers Todd Combs and Ted Weschler see value.

Thursday's filing includes investments by Buffett, Combs and Weschler, but does not say who bought and sold what.

Combs and Weschler normally make smaller investments, while Buffett handles larger investments such as Apple Inc AAPL.O and Bank of America Corp BAC.N.

Berkshire also said it owned 7.47 million common shares of Occidental Petroleum Corp OXY.N on Sept. 30, less than two months after purchasing $10 billion of preferred stock to help that company buy rival Anadarko Petroleum Corp.

(Reporting by Jonathan Stempel in New York; editing by Sandra Maler and Jonathan Oatis)

((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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