Billionaire Warren Buffett’s Berkshire buys $26.9m Sirius XM

Berkshire Hathaway Inc., the conglomerate chaired by American billionaire Warren Buffett, has bought another $26.9 million of Sirius XM Holdings Inc. stock, adding to its position as the largest shareholder in the satellite radio company.

Berkshire bought 924,281 shares over three trading days, according to a filing with the U.S. Securities and Exchange Commission on Nov. 3. The biggest purchase came on Oct. 30, when it bought 743,965 shares at a weighted average price of about $28.89. It added 66,968 shares on Nov. 2 at about $29.47 and 113,348 shares on Nov. 3 at about $30.23.

The purchases lift Berkshire’s holding to 125,731,398 shares, about 37% of the 336.5 million Sirius XM shares outstanding as of Oct. 27. At the Nov. 3 average price, the stake is worth about $3.8 billion. Most of the shares, 109.7 million, are held by Berkshire’s car insurer GEICO, and the remaining 16 million by pension plans of Berkshire subsidiaries.

Shares near a 52-week high

The buying came as Sirius XM’s stock rallied. The shares gained about 12.7% over the past week and are trading near their 52-week high of $32.66.

On Oct. 29, Sirius XM reported third-quarter revenue of $2.153 billion, down 0.3% from a year earlier, and net income of $317 million, up 6.7%. It added 5,000 self-pay subscribers in the quarter, after losing 40,000 a year earlier, and ended September with 31.3 million. The company raised its full-year revenue forecast to about $8.55 billion.

Berkshire became Sirius XM’s biggest investor after the company combined with Liberty Media Corp.’s Liberty SiriusXM tracking stock in September 2024, and it has added to the stake several times since.

Abel in charge

Berkshire is now run by Greg Abel, 64, who succeeded Buffett as chief executive at the start of 2026 after overseeing the company’s non-insurance businesses as vice chairman since 2018. Buffett, 96, stayed on as chairman after leading Berkshire for six decades.

Berkshire said in the filing that Buffett, as its controlling shareholder, disclaims beneficial ownership of the Sirius XM shares except for his financial interest in them.