Why Is Warren Buffett Buying More Sirius XM Stock?

Sirius XM Holdings' (NASDAQ: SIRI) may have fallen out of favor for most investors, but arguably the best stock picker of our time sees things differently. Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) didn't make a lot of portfolio moves in the second quarter, but one of the few tweaks it did make was to dramatically ramp up its stake in the satellite radio provider.Berkshire Hathaway revealed in an SEC filing after the market close on Wednesday that it owned 132.9 million shares of Sirius XM by the end of June, up from the 36.7 million it held just three months earlier. It's a nearly $400 million position in the media giant.We don't know Buffett's rationale for ramping up his stake in one of this year's more disappointing performers in Berkshire Hathaway's stock portfolio. This is an icy cold regulatory filing and not a warm Buffett note to shareholders or a chat with investors at the company's iconic annual shareholder meeting. However, it's a big enough move to discuss. I guess I should speculate.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool