U.S. stock futures edge higher ahead of Powell’s Jackson Hole speech
Investing.com-- Warren Buffett’s Berkshire Hathaway Inc (NYSE:BRKa) increased its stake in satellite radio company Sirius XM Holding Inc (NASDAQ:SIRI) over the past week, the hedge fund disclosed in an SEC filing on Monday.
Berkshire purchased about 2.3 million shares worth a total of about $52 million in the company since January 30, bringing its total stake in Sirius to about $2.9 billion, the SEC filing showed.
Berkshire’s purchases come as Sirius beat expectations with its fourth-quarter earnings, as the company benefited from robust demand for its live sports shows. The audio entertainment provided also benefited from its tie-ups with major auto manufacturers, including Toyota (NYSE:TM) and Tesla (NASDAQ:TSLA).
The company has about 34 million subscribers.
Berkshire had steadily built up its stake in Sirius through 2024, especially after majority owner Liberty Media decided to merge its tracking stock with Sirius in the second half of 2024.
Berkshire had begun investing in Liberty Media in 2016.