Who owns Restoration Hardware? RH shareholders in 2025
Restoration Hardware (RH) has long been recognised as a leading name in luxury home furnishings. Its stock, traded on the New York Stock Exchange (NYSE), has attracted attention from both institutional and retail investors.
Restoration Hardware (RH) stock has faced continued volatility in recent years. Since 2022, the luxury home furnishing retailer has seen its share price decline sharply, weighed down by rising interest rates, inflationary pressures, and a slowing US housing market. According to RH CEO Gary Friedman, these conditions have led to “lower-than-expected demand” across its key product segments.
What is Restoration Hardware (RH)?
Restoration Hardware, officially rebranded as RH, sells high-end furniture, home décor and related products across the United States. The company operates a network of design galleries, outlets, and Waterworks showrooms. It has undergone several strategic and branding changes in recent years, positioning itself as a luxury lifestyle brand targeting affluent consumers.
By the end of July 2022, RH operated 67 galleries, 39 outlets and 14 Waterworks showrooms, employing approximately 6,500 associates. In the first half of fiscal 2022, it reported revenues of $1.95bn and net income of $323m.
In 2012, RH went public for the second time under the ticker ‘RH’. Over the past decade, the company’s share price has shown strong long-term gains despite recent volatility, with cumulative growth of more than 700% since its initial public offering (IPO), compared with around 180% for the S&P 500 (US500) and 360% for the Nasdaq 100 (US Tech 100) over the same period. However, past performance is not a reliable indicator of future results.
Past performance is not a reliable indicator of future results. Share prices are indicative and may differ from live market prices.
Who owns RH shares in 2025?
According to the company’s latest filings with the US Securities and Exchange Commission (SEC), as of 2025, RH has approximately 18.75 million shares outstanding, representing a total market capitalisation of around $3.06bn.
The shareholder base is primarily composed of institutional investors, mutual funds and ETFs, with a smaller portion held by public companies and individual investors.
| Shareholder category | Common stock held | % of shares outstanding | Market value |
|---|---|---|---|
| Mutual funds & ETFs | 6.76m | 36.07% | $1.07bn |
| Other institutional investors | 11.39m | 60.78% | $1.80bn |
| Public companies & retail investors | 589.68k | 3.15% | $93.36m |
| Total | 18.75m | 100.00% | $2.97bn |
Top institutional holders
As of mid-2025, RH’s largest institutional shareholders include several global investment firms and asset managers:
| # | Holder | % of holding | Shares held | Value ($’000s) |
|---|---|---|---|---|
| 1 | FMR LLC (Fidelity) | 13.90% | 2,605,762 | 412,544 |
| 2 | BlackRock, Inc. | 7.69% | 1,441,910 | 228,283 |
| 3 | The Vanguard Group, Inc. | 7.53% | 1,410,664 | 223,336 |
| 4 | Durable Capital Master Fund LP | 5.08% | 952,750 | 150,839 |
| 5 | Senvest Management, LLC | 3.92% | 733,894 | 116,190 |
| 6 | Durable Capital Partners, LP | 3.45% | 646,097 | 102,290 |
| 7 | Citadel Securities LLC | 3.20% | 599,644 | 94,936 |
| 8 | State Street Global Advisors, Inc. | 2.50% | 468,413 | 74,159 |
| 9 | Squarepoint OPS LLC | 2.34% | 438,635 | 69,445 |
| 10 | UBS Asset Management AG | 2.29% | 428,495 | 67,839 |
These holdings show that institutional investors continue to account for the majority of RH’s ownership, with FMR LLC (Fidelity) holding the largest single stake.
Top mutual fund holders
Mutual funds and ETFs collectively hold over one-third of RH’s outstanding shares, suggesting its continued appeal among diversified investment portfolios.
| # | Holder | % of holding | Shares held | Value ($’000s) |
|---|---|---|---|---|
| 1 | Fidelity Securities Fund – Fidelity Blue Chip Growth Fund | 6.07% | 1,138,122 | 180,187 |
| 2 | iShares Core S&P Mid-Cap ETF | 2.62% | 491,159 | 77,760 |
| 3 | Vanguard Total Stock Market ETF | 2.52% | 471,668 | 74,674 |
| 4 | Vanguard Small-Cap ETF | 1.89% | 355,201 | 56,235 |
| 5 | Fidelity Blue Chip Growth K6 Fund | 1.42% | 266,391 | 42,175 |
| 6 | SMALLCAP World Fund, Inc. | 1.08% | 201,734 | 31,939 |
| 7 | Vanguard Small-Cap Growth ETF | 1.06% | 198,147 | 31,371 |
| 8 | Fidelity Series Blue Chip Growth Fund | 1.05% | 196,604 | 31,126 |
| 9 | Vanguard Extended Market ETF | 0.88% | 164,510 | 26,045 |
| 10 | Government Pension Fund Global | 0.65% | 122,429 | 19,383 |
Insider ownership
Insiders at RH continue to hold a notable share of the company. CEO Gary Friedman remains the largest individual shareholder, with approximately 2.98 million shares, representing around 12% of total voting power. Other senior executives, including Eri Chaya and Carlos Alberini, hold smaller stakes.
In total, insider ownership represents about 13% of RH’s outstanding common stock, which helps align management interests with those of other shareholders.
Source: Investing.com, 14 November 2025.
Key takeaway
Institutional investors and mutual funds dominate RH’s ownership structure, with Fidelity, BlackRock and Vanguard among the most significant holders. While the company continues to navigate a challenging macroeconomic environment, it retains strong brand recognition and a stable customer base in the luxury furnishings sector.
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