Warren Buffett increases his bet on Sirius XM Holdings Inc., as Berkshire Hathaway Inc. expands its portfolio with more shares of this radio company.
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. This change occurred with the emergence of billionaire John Malone Freedom Media split its 83% stake and combined it with a separate tracking stake in the broadcaster.
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.
