Sirius stock jumps 15% as Warren Buffett reveals stake

Shares of Sirius XM Holdings Inc (NASDAQ: SIRI) jumped 15% this morning following a regulatory filing that showed Warren Buffett to have taken a stake in the audio entertainment company.

How much did Buffett spend on Sirius stock?

Berkshire Hathaway – the multinational conglomerate of the “Oracle of Omaha” loaded up on 9.7 million shares of the Nasdaq-listed firm in the third quarter.

In total, Buffett spent $43.8 million on Sirius XM to build a stake that represents 0.25% of the company’s outstanding shares.

The news arrives only days after the New York headquartered company came in ahead of estimates for profit in its third financial quarter but fell short in terms of revenue.

Despite the surge on Wednesday, Sirius stock is still down nearly 30% versus its year-to-date high.

Other notable moves Buffett made in Q3

The Sirius position is significant since Warren Buffett was a net seller of equities in the third quarter. His Berkshire Hathaway bought a total of $1.7 billion worth of stocks in the recent quarter but sold a whopping $7.0 billion worth of them.

Most notably, the legendary investor pulled out entirely of his positions in General Motors and Celanese (materials company) in Q3.

Buffett has also been trimming his bets on Chevron Corp and HP as Invezz reported here. On Wednesday, he also requested the Securities & Exchange Commission to not reveal the details of at least one of his stock holdings.

Berkshire Hathaway ended September with a record $157.2 billion in short-term Treasury bills.