Reported 16 days ago
Warren Buffett has significantly increased Berkshire Hathaway's stake in Sirius XM Holdings by 262% during the second quarter of 2024, demonstrating his strong belief in the company despite its recent 1-for-10 reverse stock split. The investment is driven by Buffett's understanding of Sirius XM's subscription-based business model, his favorable view of its management led by CEO Jennifer Witz, and the company's attractive valuation, including a forward price-to-earnings ratio of 6.4. This move reflects Buffett's long-term investment strategy focused on companies with strong market positions and solid management.
Source: YAHOO