MW Buffett's Berkshire Hathaway buys more Sirius XM stock as it continues to bounce

By Tomi Kilgore

Warren Buffett now owns more than 35% of Sirius XM shares, after spending $54 million in latest round of purchases

Shares of Sirius XM Holdings Inc. climbed toward a two-month high Tuesday after Berkshire Hathaway Inc. disclosed that it boosted its stake in the satellite-radio company to more than 35%.

In a Form 4 filing with the Securities and Exchange Commission, Warren Buffett's investment vehicle $(BRK.B)$ $(BRK.A)$ said that from Jan. 30 to Feb. 3, it spent $54 million to purchase 2,308,119 Sirius XM shares (SIRI) at a weighted average price of $23.38.

Sirius XM's stock was up 1.1% in afternoon trading, to put it on track for its highest close since Dec. 12.

Berkshire now owns 119.8 million shares, or 35.4% of the Sirius XM shares outstanding. That makes Berkshire by far the biggest shareholder, with Vanguard in second place at 6.6%, according to FactSet data.

Buffett's investment vehicle started loading up on Sirius XM shares in 2024. On Sept. 10, the company became an independent public company with a simplified capital structure following the closing of q deal with Liberty Media.

On Sept. 19, after a year-to-date plunge in the stock of 56.1%, Berkshire filed a Schedule 13G form to disclose that it owned 105.16 million Sirius XM shares, or 31% of the shares outstanding.

Schedule 13G is used for the required disclosure when a security holder owns a stake of more than 5% in a company. Owners who file 13Gs tend to be more passive investors than those who file Schedule 13Ds, which include a section for the investor to disclose the purpose of the transaction.

Since then, Berkshire has spent $350.76 million to buy 14.62 million shares, at a weighted average price of $23.99.

The stock has gained 1% since Sept. 19 and 17.9% since closing at a 12-year low of $20.58 on Dec. 19. And it's trading 1.1% above the price Berkshire paid to buy the stock over the past four months.

So far this year, the stock has gained 6.4%, while the S&P 500 SPX has tacked on 2.5%. The stock had fallen for five straight years through 2024, tumbling 68.1% during that time.

-Tomi Kilgore

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February 04, 2025 13:52 ET (18:52 GMT)

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