Buffett Buys More Sirius XM as Berkshire’s Stake Climbs to 33%

By Alexandre Rajbhandari

October 31, 2024 at 8:25PM EDT

The Sirius XM Holdings Inc. application is displayed for a photograph on an Apple Inc. iPhone in Washington, D.C., U.S., on Sunday, Jan. 28, 2018. Sirius XM is expected to release earnings figures on January 31. Photographer: Andrew Harrer/Bloomberg (Andrew Harrer/Bloomberg)

(Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. continues adding to his stake in satellite-radio broadcaster Sirius XM Holdings Inc.

The conglomerate acquired $60.7 million of shares over three days through Thursday, according to a regulatory filing. It now owns 33.2% of the outstanding shares of Sirius XM, which also owns the Pandora music-streaming platform.

Berkshire became Sirius XM’s biggest investor last month as John Malone’s Liberty Media split off its 83% stake and combined it with a separate tracking stock in the broadcaster, of which Berkshire had been the largest holder.

Shares of Sirius XM have lost more than half of their value this year.