Warren Buffett walks on the floor and meets Berkshire Hathaway shareholders prior to their annual meeting in Omaha, Nebraska on 3 May 2024.
David A. Grogan
Berkshire Hathaway from Warren Buffett has once again picked up shares of Sirius XM, increasing the importance in the satellite radio company to more than 35%.
The Omaha, the Nebraska -based conglomerate bought around 2.3 million shares for around $ 54 million in separate transactions from Thursday to Monday, according to An application to the Securities and Exchange Commission Monday evening. Berkshire now owns 35.4% of SiriusXM.
Berkshire bought the trackers from Liberty Media for the first time in 2016 and started in the beginning of 2024 in SiriusXM’s tracking stocks in a likely merger arbitration game. The Liberty Media of billionaire John Malone completed his deal at the beginning of September To combine its tracking shares with the rest of the radio company, as part of the redeurne to its vast media empire. There was also one split off From the baseball team of Atlanta Braves in a separate, listed company, in which Berkshire also has shares.
Siriusxm
Buffett has to mention the Siri Bet publicly, and it is not clear whether the 94-year-old investor was behind it or whether it is the work of his investing lieutenants, or Ted Weschler or Todd Combs. Berkshire also bought around 5 million shares in December.
SiriusXM had a rough 2024 with shares with no less than 58% while the company struggled with losses of subscribers and unfavorable demographic shifts. It is not a favorite stock on Wall Street. Of the 16 analysts who cover Siri, only three gave a buy -rating, according to factset.
The share has risen by approximately 5% in the new year.