(Bloomberg) — Warren Buffett is increasing his bet on Sirius XM Holdings Inc. as Berkshire Hathaway Inc. adds more shares of this radio company to its portfolio.
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The documents show that the conglomerate acquired $42 million worth of shares in the three days to Friday.
Berkshire Hathaway currently owns about 32.5% of Sirius XM’s publicly traded shares, having become the top holder of the stock last month. The change came when billionaire John Malone’s Liberty Media separated its 83% stake and combined it with its separate broadcaster tracking interests.
Last week, Bershire added more shares to its holdings. The move provided some support for Sirius XM shares, which have fallen 50% this year on expectations of lower sales.
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