Warren Buffett’s Berkshire Hathaway scoops up more Sirius XM, boosting stake to 35%

Warren Buffett’s Berkshire Hathaway scoops up more Sirius XM, boosting stake to 35%


In this article

  • SIRI
  • BRK.A
Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024. 
David A. Grogan

Warren Buffett’s Berkshire Hathaway once again scooped up shares of Sirius XM, boosting its stake in the satellite radio company to over 35%.

The Omaha, Nebraska-based conglomerate purchased roughly 2.3 million shares for about $54 million in separate transactions Thursday through Monday, according to a filing with the Securities and Exchange Commission Monday evening. Berkshire now owns 35.4% of SiriusXM.

Berkshire first bought 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 tracking stocks with the rest of the radio company, as part of the reshuffling of his sprawling media empire. There was also a split-off of the Atlanta Braves baseball team into a separate, publicly traded company, which Berkshire also owns shares in.

Stock Chart IconStock chart icon

hide content
SiriusXM

Buffett has yet to mention the Siri bet publicly, and it’s not clear if the 94-year-old investor was behind it or if it’s the work of his investing lieutenants, either Ted Weschler or Todd Combs. Berkshire also purchased about 5 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’s not a favored stock on Wall Street. Out of the 16 analysts covering Siri, only three gave it a buy rating, according to FactSet.

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



Source

BlackRock keeps its foot on the private-markets pedal with another acquisition
Finance

BlackRock keeps its foot on the private-markets pedal with another acquisition

BlackRock’s new acquisition pushes the asset manager one step deeper into private markets. The news The asset management giant on Monday announced an agreement to buy ElmTree Funds, a real estate investment firm that manages roughly $7.3 billion in assets. ElmTree, which leases commercial properties to single-tenant renters, will be integrated into BlackRock’s new group […]

Read More
Stocks making big midday moves: Tesla, Uber, Royal Gold, Stellantis, WNS and more
Finance

Stocks making big midday moves: Tesla, Uber, Royal Gold, Stellantis, WNS and more

Tesla — The EV-maker tumbled almost 8% after CEO Elon Musk said he would form a new political party called “America Party.” Musk has been feuding with President Donald Trump, who called the new party “ridiculous.” Uber Technologies — Shares of the ride-hailing company hit an all-time high of $97.12 and recently were up by […]

Read More
Stocks making the biggest premarket moves: Tesla, Geo Group, Molina Healthcare, SolarEdge Technologies and more
Finance

Stocks making the biggest premarket moves: Tesla, Geo Group, Molina Healthcare, SolarEdge Technologies and more

Check out the companies making the biggest moves in premarket trading: Tesla — The E.V-maker tumbled 6% after CEO Elon Musk said he would form a new political party called “America Party.” Musk has been engaged in a feud with President Donald Trump, who called the new party “ridiculous.” Geo Group , CoreCivic — The […]

Read More