Berkshire Hathaway Increases Stake in SiriusXM with $27 Million Purchase
Berkshire Hathaway has increased its position in SiriusXM (SIRI) by purchasing an additional $27 million worth of shares between October 30 and November 3. This recent acquisition brings Berkshire's total ownership of the satellite radio operator to over 37% of outstanding shares, representing approximately 1.1% of Berkshire's equity portfolio. The investment follows a significant turnaround effort by SiriusXM, which has seen its stock price rise nearly 62% this year. The company is transitioning from a period of subscriber attrition toward growth through new pricing structures, expanded podcasting rights, and improved in-car technology platforms. Management has also raised full-year guidance for revenue, EBITDA, and free cash flow.
Topics: Berkshire Hathaway equity purchases SEC filings SiriusXM