Warren Buffett is amplifying his bet on Sirius XM Holdings Inc., as Berkshire Hathaway Inc. keeps adding more shares of the radio broadcasting firm to its portfolio.
The conglomerate has acquired $42 million worth of shares in the three days through Friday, regulatory filings show.
Berkshire Hathaway now has a stake of about 32.5% in Sirius XM’s publicly traded stock, having become the top holder last month. That change came as billionaire John Malone’s Liberty Media split off its 83% stake and combined it with its separate tracking shares in the broadcaster.
Bershire added more of the stock to its holdings last week. The move provided some support for Sirius XM’s shares, which are down 50% this year amid expectations of lower sales.
