
Berkshire's first Sirius XM buys in almost 15 months: its smallest, highest-priced round
Berkshire Hathaway, whose filing lists about 37% of Sirius XM's shares, bought $26.9 million of the stock from Oct. 30 to Nov. 3. It was its first purchase since August 2025, when it paid about $21.16 a share.
KeyVex News··5 min readFact-checked against 10 public records
KeyVex News··5 min readFact-checked against 10 public records
SIRI$30.80▲ 4.2%Close, Nov. 3. Prices from Tiingo.The short versionTap to readTap to close
- After the September 2024 deal that created today's Sirius XM, Berkshire bought its stock in four rounds of purchases. The last, in August 2025, cost about $21.16 a share.
- Then it reported no purchases for almost 15 months, while the stock closed as low as $19.92 and later as high as $32.59.
- When it started again on Oct. 30, it paid about $29.10 a share, a higher average than in any earlier round. The $26.9 million is under 1% of its stake's Nov. 3 value.
- Its slice can grow without buying: when a company buys back its own shares, every remaining owner holds more. Sirius's finance chief said on Oct. 29 he sees potential to speed up buybacks in 2027.
- Next: Sirius pays a $0.27 dividend on Nov. 23 to shareholders of record on Nov. 6. On the 109.7 million shares Berkshire's insurer GEICO holds, that is about $29.6 million, by KeyVex's math.
The purchase: Berkshire Hathaway bought 924,281 shares of Sirius XM from Oct. 30 to Nov. 3, for about $26.9 million, an average of about $29.10 a share, a Form 4 shows. Company insiders and owners of more than 10% file that form when their holdings change.Form 4 Berkshire and Warren Buffett, its controlling stockholder, filed it after the market closed on Nov. 3. Its box for a prearranged trading plan is not checked. It gives no reason for the purchases and does not say when Berkshire decided to buy.Form 4
The gap: It was Berkshire's first purchase of Sirius stock since Aug. 4, 2025, almost 15 months earlier.Form 4Form 4 In between, Sirius closed as low as $19.92, on Nov. 20, 2025, and as high as $32.59, on July 29, 2026.Chart data
The stake: Berkshire's filing reports 125.7 million Sirius shares, about 37% of the company and worth about $3.9 billion at the Nov. 3 close of $30.80, by KeyVex's math. That count includes 16 million shares in pension plans whose beneficial ownership Berkshire disclaims.Form 410-QChart data Its new shares cost about $29.10 each, the most it has paid on average in any of its five rounds since the September 2024 deal that created today's Sirius XM Holdings. In August 2025 it paid about $21.16. At 924,281 shares, the new round is also the smallest of the five.Form 4Form 4Form 4Form 4Form 4Form 4Form 410-Q
Sirius XM's stock and Berkshire's rounds of buyingDaily close, Sept. 10, 2024 to Nov. 3, 2026 ▲ 12.5%Show chartHide chart
What Berkshire paid each time
Before its first purchase after that deal, on Oct. 9, 2024, Berkshire held about 105.2 million shares. It has bought 20.6 million more since, for about $484 million in all, in five rounds of buying; the first was spread over three weeks of October 2024, its Form 4s show.Form 4Form 4Form 4Form 4Form 4Form 4Form 4
It paid an average of about $25.79 in October 2024 and $21.60 that December. In late January and early February 2025 it paid $23.38. The August 2025 round cost $21.16, and the new one about $29.10.Form 4Form 4Form 4Form 4Form 4Form 4Form 4 Each day's average in the new round, $28.89 and up, is higher than any daily average Berkshire reported before it. The highest earlier was $27.65, on Oct. 29, 2024.Form 4Form 4Form 4Form 4Form 4Form 4Form 4
View the data
| Round | Average price a share | Note |
|---|---|---|
| Oct. 2024 (7.3 million shares) | $25.79 | Oct. 9 to 31, 2024: 7,349,700 shares, $189.6 million |
| Dec. 2024 (5 million shares) | $21.60 | Dec. 17 to 19, 2024: 4,963,844 shares, $107.2 million |
| Jan. to Feb. 2025 (2.3 million shares) | $23.38 | Jan. 30 to Feb. 3, 2025: 2,308,119 shares, $54.0 million |
| July to Aug. 2025 (5 million shares) | $21.16 | July 31 to Aug. 4, 2025: 5,030,425 shares, $106.5 million |
| Oct. to Nov. 2026 (924,281 shares) | $29.10 | Oct. 30 to Nov. 3, 2026: 924,281 shares, $26.9 million |
A round groups purchases with no break longer than two weeks. Source: Berkshire Hathaway and Warren E. Buffett Form 4 filings for Sirius XM; averages are KeyVex's math.
Most of the stake, 109.7 million shares, is held by Berkshire's insurer GEICO. The other 16 million are held by pension plans of Berkshire companies. The filing counts those in its total, but Berkshire, Buffett and the plans disclaim beneficial ownership of them: under securities law, none of them claims to be the shares' beneficial owner.Form 4
What Sirius said on Oct. 29
Sirius reported third-quarter results before the market opened on Oct. 29. Net income rose 7% to $317 million, while revenue slipped to $2.15 billion. It added a net 5,000 self-pay subscribers, who pay for their own plans.8-K
It also raised its 2026 targets for revenue, free cash flow and adjusted EBITDA, a measure of operating profit, by $25 million each, the second quarter in a row it raised them.8-K The stock closed up 4.9% that day.Chart data
On the results call, chief executive Jennifer Witz said the company anticipates "a more challenging fourth quarter for self-pay subscriber trends." Self-pay net additions for the year are now expected to be about flat with 2025, she said, according to transcripts published by The Motley Fool and Investing.com.TranscriptTranscript
Steven Cahall, a Wells Fargo analyst, said on the call: "we are backing into Sirius XM self-pay gross adds maybe down around double digit for the last couple of quarters." Gross adds are new subscribers signing up. He was leaving out Companion plans, which extend a subscription to more devices and household members, and noted that churn, the rate of cancellations, was improving.TranscriptTranscript Companion plans added 107,000 self-pay net additions in the quarter, Sirius said.8-K
Witz did not confirm or dispute his estimate. She said the company has been developing new opportunities "outside of this traditional in-car funnel," the transcripts show.TranscriptTranscript
How Berkshire's share can grow without buying
Sirius also buys back its own stock. It spent $33 million on buybacks in the third quarter and had $963 million left under its authorization at Sept. 30.8-K10-Q Each share it retires raises the percentage every remaining owner holds, Berkshire's included.
Explaining the company's buyback plans, chief financial officer Zac Coughlin said on the call that management believes its share price "represents a compelling investment opportunity." The company sees "potential to meaningfully accelerate share repurchases in 2027," he said, according to the transcripts.TranscriptTranscript
Sirius also pays a quarterly dividend of $0.27 a share. On the 109.7 million shares held by GEICO, the one due on Nov. 23 comes to about $29.6 million, by KeyVex's math.10-QForm 4
What to watch
The record date for Sirius's $0.27 quarterly dividend: shareholders on its books that day get it.
The dividend is paid.
Sirius's fourth-quarter results, the quarter Witz said would be more challenging for subscribers. It reported last year's on Feb. 5, 2026.
The year Sirius's finance chief said buybacks could accelerate.
The paper trail
Berkshire Hathaway's Form 4s for Sirius XM since the 2024 deal, and Sirius's Oct. 29 results, with the time EDGAR accepted each one.
| Filed (ET) | Form | Filer | What it shows |
|---|---|---|---|
| Oct. 11, 2024, 7:07 p.m. | 4 | Berkshire Hathaway, Buffett | Bought 3,564,059 shares, Oct. 9 to 11. |
| Oct. 18, 2024, 7:41 p.m. | 4 | Berkshire Hathaway, Buffett | Bought 1,557,702 shares, Oct. 16 to 18. |
| Oct. 31, 2024, 7:30 p.m. | 4 | Berkshire Hathaway, Buffett | Bought 2,227,939 shares, Oct. 29 to 31. |
| Dec. 19, 2024, 9:39 p.m. | 4 | Berkshire Hathaway, Buffett | Bought 4,963,844 shares, Dec. 17 to 19. |
| Feb. 3, 2025, 7:27 p.m. | 4 | Berkshire Hathaway, Buffett | Bought 2,308,119 shares, Jan. 30 to Feb. 3. |
| Aug. 4, 2025, 9:00 p.m. | 4 | Berkshire Hathaway, Buffett | Bought 5,030,425 shares, July 31 to Aug. 4. Holding: 124,807,117 shares. |
| Oct. 29, 2026, 7:54 a.m. | 8-K | Sirius XM | Third-quarter results; 2026 targets raised by $25 million each. |
| Oct. 29, 2026, 10:12 a.m. | 10-Q | Sirius XM | 336,486,715 shares outstanding on Oct. 27; $963 million left for buybacks; $0.27 dividend declared. |
| Nov. 3, 2026, 9:30 p.m. | 4 | Berkshire Hathaway, Buffett | Bought 924,281 shares, Oct. 30 to Nov. 3. Holding: 125,731,398 shares. No trading plan indicated. |
Sources
15 sources, 10 of them public records
Public records
- Form 4, Berkshire Hathaway Inc. and Warren E. Buffett (Sirius XM purchases, Oct. 30 to Nov. 3, 2026)SEC EDGAR · Nov. 3, 2026
- Form 4, Berkshire Hathaway Inc. and Warren E. Buffett (purchases July 31 to Aug. 4, 2025)SEC EDGAR · Aug. 4, 2025
- Form 4, Berkshire Hathaway Inc. and Warren E. Buffett (purchases Jan. 30 to Feb. 3, 2025)SEC EDGAR · Feb. 3, 2025
- Form 4, Berkshire Hathaway Inc. and Warren E. Buffett (purchases Dec. 17 to 19, 2024)SEC EDGAR · Dec. 19, 2024
- Form 4, Berkshire Hathaway Inc. and Warren E. Buffett (purchases Oct. 29 to 31, 2024)SEC EDGAR · Oct. 31, 2024
- Form 4, Berkshire Hathaway Inc. and Warren E. Buffett (purchases Oct. 16 to 18, 2024)SEC EDGAR · Oct. 18, 2024
- Form 4, Berkshire Hathaway Inc. and Warren E. Buffett (purchases Oct. 9 to 11, 2024)SEC EDGAR · Oct. 11, 2024
- Sirius XM Holdings Inc., Form 8-K, Exhibit 99.1: third-quarter 2026 resultsSEC EDGAR · Oct. 29, 2026
- Sirius XM Holdings Inc., Form 10-Q for the quarter ended Sept. 30, 2026SEC EDGAR · Oct. 29, 2026
- Sirius XM Holdings Inc., Form 8-K: fourth-quarter 2025 resultsSEC EDGAR · Feb. 5, 2026
Reporting
- "Sirius XM (SIRI) Q3 2026 Earnings Call Transcript"The Motley Fool · Oct. 29, 2026
- "Earnings call transcript: Sirius XM beats Q3 2026 EPS, raises guidance"Investing.com · Oct. 29, 2026
Data
- End-of-day prices for SIRI, and for SPY and QQQ on the chart (Tiingo)KeyVex · through Nov. 3, 2026
- SEC insider transactions for Sirius XM, 2024 to Nov. 3, 2026KeyVex · through Nov. 3, 2026
- The chart's Filings layer: KeyVex's Congress trade, insider trade, Form 144, 8-K and lobbying records for SIRIKeyVex · through Nov. 3, 2026
How we got these numbers
- Prices are end-of-day closes as traded, not adjusted for dividends. Closes before Sept. 10, 2024, are adjusted for the share exchange in the transactions that created today's Sirius XM Holdings, which closed on Sept. 9, 2024. Daily moves are close to close. The S&P 500 and Nasdaq 100 lines follow SPY and QQQ, also as traded, rebased to Sirius's close at the start of the range shown. The Filings switch shows the filing markers from KeyVex's Sirius page, a selection of filings: not every filing, and not only those tied to this story.
- Berkshire's purchases, prices and holdings come from the transaction rows of its seven Form 4s for Sirius XM since October 2024 (26 purchases in all). A round groups purchases with no break longer than two weeks. Each round's average price is the share-weighted average of the prices on those rows, and dollar amounts are shares times those prices. The filings report each day's price as a weighted average of several trades.
- The holding figures include the 15,984,890 shares held by pension plans of Berkshire subsidiaries, as the Form 4 reports them, although Berkshire, Buffett and the plans disclaim beneficial ownership of those shares. The 37% stake uses the 336,486,715 Sirius shares outstanding on Oct. 27, 2026, from Sirius's 10-Q; the $3.9 billion value uses the Nov. 3 close.
- "No purchases" from Aug. 5, 2025, to Oct. 29, 2026, rests on two checks: the holding Berkshire reported before its Oct. 30 purchase equals its holding after Aug. 4, 2025, and Sirius's list of filings on EDGAR shows no Berkshire Form 4 in between.
- The header image was generated for KeyVex by an image model. It is an illustration, not a photograph.





