Berkshire Hathaway, the holdings company founded and led by renowned investor Warren Buffett, bought 1.9 million shares Liberty Sirius XM last week for nearly $50 million, according to filings with U.S. Securities and Exchange Commission.
Berkshire has bought shares of the tracking stock every trading session since March, Barron’s reports.
A tracking stock is a type of equity offered by a parent company that tracks the performance of a specific division. In this case Liberty Media, which owns about 83% of Sirius XM, offers a tracking stock of Sirius XM. The satellite radio company Sirius XM Holdings operates Sirius XM and the online radio service Pandora and sells its own stock under the ticker symbol SIRI.
Berkshire now owns more than a 21% stake in…
