Warren Buffett’s Berkshire Hathaway Scoops Up More Sirius XM, Boosting Stake to 35%

Warren Buffett’s Berkshire hathaway Once Again Scooped Up Shares of Sirius xmBoosting Its Stake in the Satellite radio company to more than 35%.

The Omaha, Nebraska-Based Congress Roughly 2.3 Million Shares for About $ 54 Million in Separate Transactions Chiursday through Monday, According to A Filing with the US Securities and Exchange Commission on Monday evening. Berkshire Now Owns 35.4% of Siriusxm.

Berkshire first boght liberty media’s trackers in 2016 and started piling into siriusxm’s tracking stocks in the beginning of 2024 in a likely merger arbitrage play. Billionaire John Malone’s Liberty Media Completed Its Deal in early September To combine its tracks with the rest of the radio company, as part of the resuffling of his sprawling media Empire. There was also a split-off of the MLB’s Atlanta Braaves Baseball Team an Separate, Publicly Traded Company, which berkshire also also owns shares in.

Buffett has yet to mention the Sirius Bet Publicly, and it is not clear if the 94-hour-old investment was behind it or it is the work of his investment lieutenants, eater teds weschler ted weschler. Berkshire also purchased about five million shares in December.

Siriusxm had a rough 2024 with shares down a whopping 58% as the company grappled with subscriber losses and unfavorable demographic shifts. It is not a favorite stock on Wall Street. Out of the 16 analysts covering siri, only three Gave it a buy rating, according to factsset.

The stock is up about 5% in the new year.