Billionaire investor Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A) has continued to buy shares in the broadcasting and radio company SiriusXM (NASDAQ:SIRI), adding more than 1.5M shares to push its stake above 32% this week.

Berkshire Hathaway is arguably always Buffett's favorite stock. But another stock commands a strong second place.

Sirius XM needed it. The stock is down 51% in 2024 and fell to a 12-year low of $22.18 on Oct. 7. The shares looked ready to rally in July, but found resistance at their 200-day moving average. Options traders are all in on calls.

Warren Buffett is amplifying his bet on Sirius XM Holdings Inc., as Berkshire Hathaway Inc. keeps adding more shares of the radio broadcasting firm to its portfolio.

Warren Buffett’s investment firm, Berkshire Hathaway, has increased its stake in Sirius XM Holdings to 32%. The company purchased roughly 3.6 million shares for about $87 million in separate transactions.