SIRI

SIRI

SIRI

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q2	Jul 16, 2024	Pittenger & Anderson	-	-	AAPL, AMZN, BRK.A, DDS, GOOGL, LLYVA, META, NFLX, NKE, NVDA, PLTR, SIRI, SLB, TDW, VAL	AI, Concentration, cyclicals, energy, technology, Trump, value	Manager discusses AI hype and concentration in tech stocks, comparing current environment to dot-com bubble. Notes concerns about commoditization of AI tools and lack of clear profit models, while highlighting Amazon's successful cost-focused AI implementation in warehouses.	SIRI SLB VAL TDW NKE	View
2025 Q1	May 1, 2025	Brennan Asset Management	-	-	AIBG.L, ARCO, BOI.L, CODI, GLV.L, GTX, LBRDA, MTRO.L, PLTR, SIRI, TIGO, TSLA	Banking, Europe, inflation, Ireland, tariffs, Trade Policy, value	Trump 2.0 administration imposed universal tariffs starting with 25% on Mexico and Canada, followed by Liberation Day with 10% universal tariffs and much higher reciprocal rates including 145%/125% on US/China trade. These tariff rates are the highest since the 1930s and have created massive market volatility and recession concerns.	PTSB.L	View
2026 Q1	Apr 29, 2026	Weitz Partners III Opportunity Fund	-8.1%	-8.1%	ACN, CRM, DHR, IEX, LBRDK, MSFT, POOL, ROP, SIRI, TMO, TXN, V, VMC	AI, energy, Geopolitical, Long/Short, software, technology, value			View
2026 Q1	Apr 29, 2026	Weitz Multi Cap Equity Fund	-8.3%	-8.3%	CSGP, DHR, GOOGL, HEI, IR, IT, MSFT, ODFL, RGEN, SIRI, TXN, V	AI, energy, fundamentals, Geopolitical, multi-cap, Portfolio Management, value			View
2023 Q1	Mar 31, 2023	City Different Investments – Global Equity	12.8%	-14.1%	AAPL, AMZN, BRK.A, DDS, GOOGL, META, NFLX, NKE, NVDA, PLTR, SIRI, SLB, TDW, VAL	AI, Concentration, Cyclical, energy, technology, Trump, value	Manager discusses AI hype and concentration in tech stocks, comparing current market to dot-com bubble. Notes concerns about commoditization of AI tools and lack of clear profit models, while highlighting Amazon's successful AI implementation for warehouse cost savings.	SIRI SLB AVALX TDW NKE	View
2024 Q4	Feb 15, 2025	GDS Investments	-	-	AAPL, AMZN, BRK.A, DDS, GOOGL, LLYVA, META, NFLX, NKE, NVDA, PLTR, SIRI, SLB, TDW, VAL	AI, cyclicals, energy, inflation, technology, Trump, value	Manager discusses AI hype and concentration in tech stocks, comparing current environment to dot-com bubble. Notes concerns about commoditization of AI tools and lack of clear profit models, while highlighting Amazon's successful cost-focused AI implementation in warehouses.	SIRI SLB VAL TDW NKE SLB VAL TDW NKE	View
2024 Q3	Oct 30, 2024	Penn Davis McFarland	-	-	BRK-A, FTRE, SIRI	Biotechnology, Fed policy, rates, Recession, special situations, value	The Federal Reserve lowered interest rates by half a percentage point in September, marking a historic policy shift as they pivot from fighting inflation to supporting employment. The Fed is working to ensure previous rate hikes don't damage the job market further, with bond market signals suggesting economic downturn risks.	SIRI FTRE	View
2023 Q3	Oct 30, 2023	Penn Davis McFarland	-	-	ATVI, FTRE, LSXMK, MSFT, SIRI	gaming, healthcare, M&A, Macro, spinoffs, value	Initiated new position in Fortrea, a late-stage contract research organization spun out of Labcorp. The company helps drug companies design, run, and manage clinical trials. Management expects EBITDA margins to improve from 9% to mid-to-high teens as duplicate costs are eliminated and infrastructure is built out.	ELV\|FTRE\|HUM\|WTW	View
2025 Q4	Jan 29, 2026	Weitz Multi Cap Equity Fund	-1.5%	3.2%	ACN, BRK-B, CDW, CHTR, CMCSA, CSGP, DHR, GOOGL, HEI, IDXX, IEX, IT, KMX, LBRDA, LH, LKQ, META, PRM, SIRI, TECH	healthcare, multi-cap, technology, Telecom, underperformance, value	Google's Gemini AI surpassed expectations with latest release, moving to front of pack among frontier models according to industry benchmarks. Investors questioning value of Gartner's research offerings in rapidly evolving GenAI landscape. Heightened competition continues weighing on broadband investments including Liberty Broadband and Charter Communications. Charter's capital investment cycle beginning to ease, expected to improve free cash flow and support share repurchases at depressed prices. CarMax faces challenging environment with constrained availability and affordability of late model used vehicles. Online competitor Carvana taking share while CarMax's omni-channel investments have yet to deliver improvements, leading to strategic changes and CEO departure.	CHTR KMX PRM	View
2025 Q4	Jan 29, 2026	Weitz Partners III Opportunity Fund	0.7%	3.2%	AMZN, AON, BRK-A, CHTR, DHR, EEFT, GOOGL, GPN, IEX, KMX, LBRDA, LH, MA, META, MSFT, ROP, SIRI, TECH, TMO, V	AI, Biotechnology, contrarian, healthcare, Long/Short, technology, value	The fund owned several companies deemed AI Winners including Alphabet, Microsoft, Amazon and Meta Platforms, averaging roughly 16% of Fund assets in 2025. Google's latest Gemini AI release surpassed expectations with benchmarks showing performance moved to the front of the pack. The fund's deep value stocks averaging roughly 16% of portfolio assets had a disproportionately negative impact on returns in 2025. As value-oriented investors, the managers are comfortable taking contrarian positions but must be clear-eyed about how companies' prospects change. The portfolio's life sciences investments representing roughly 18% of average assets experienced a lost year in 2025. The industry began with pressure on research budgets and heightened scrutiny of healthcare apparatus, reorienting around a new normal before organic growth pickup spurred a rally.	BRK.B PRM CHTR KMX GOOGL	View
2024 Q3	Sep 30, 2024	Weitz Multi Cap Equity Fund	10.4%	16.3%	BRK-A, CHTR, GOOGL, GWRE, LBRDA, LICT, LKQ, META, MLM, PMS, SIRI, VRSN	interest rates, Media, Multi Cap, Quality, technology, value	The fund employs a Quality at a Discount framework as an enduring advantage of their multi-cap investing strategy. They focus on investing in high quality businesses of all sizes, with valuation remaining their North Star for investment decisions.		View
2024 Q3	Sep 30, 2024	Weitz Partners III Opportunity Fund	9.1%	14.1%	AMZN, AON, BRK-A, FIS, GOOGL, GPN, IEX, KMX, LBRDA, LBTYA, LH, LYV, META, MSFT, NVDA, PRM, SIRI, SPY, TMO	Broadband, Long/Short, Quality, Rate Cuts, technology, value	The fund focuses on owning high quality businesses trading at discounts to intrinsic value. Liberty Broadband traded at a significant discount to its Charter stake value, and SiriusXM Holdings appears undervalued with investors overly pessimistic about future cash flows at current prices.		View
2023 Q3	Aug 11, 2023	Weitz Large Cap Equity Fund	7.8%	13.3%	ADBE, ADI, CHTR, CRM, CSGP, DHR, EFX, FIS, GOOG, KMX, LBRDK, LH, LSXMK, MCHP, META, ORCL, SCHW, SIRI, TMO, VMC	Concentration, large cap, Quality, Resilience, technology, value	The manager emphasizes owning durable, resilient, adaptable businesses that can make their own breaks and don't depend on smooth sailing. This focus on resilience is central to their investment philosophy given the uncertain economic environment and Fed policy impacts.	EFX MCHP	View
2023 Q3	Aug 11, 2023	Weitz Multi Cap Equity Fund	10.4%	16.3%	BKI, CSGP, EFX, FTRE, GOOG, GWRE, ICE, KMX, LBRDA, LH, LICT, LILAK, LKQ, LSXMK, LYV, MACT, META, MLM, PRM, SIRI	Broadband, Media, Multi Cap, Quality, technology, value	The fund emphasizes owning high-quality, durable businesses led by talented management teams capable of navigating uncertain times. They use a Quality at a Discount framework for investing in businesses of all sizes. The portfolio trades at an estimated price-to-value ratio in the upper 70s, suggesting healthy risk-adjusted returns.	EFX	View
2023 Q3	Aug 11, 2023	Weitz Partners III Opportunity Fund	9.1%	14.1%	AMZN, BKI, BRK-B, CCRD, CSGP, FIS, FTRE, GOOG, GS, KMX, LBRDA, LH, LSXMK, LYV, META, MSFT, PRM, QRTEP, SCHW, SIRI	efficiency, Media, Quality, technology, Tracking Stocks, value	The managers emphasize owning high-quality, durable businesses led by talented management teams capable of navigating uncertain times and potentially coming out stronger. They believe companies with competitive advantages, smart and flexible management teams, and solid finances will always find ways to move forward and build business value.		View
2024 Q2	Jul 28, 2024	Weitz Multi Cap Equity Fund	10.4%	16.3%	ACIW, AON, BRK-B, CHTR, CSGP, GOOG, GWRE, HEI, IEX, LBRDA, LKQ, LLYVA, LSXMK, LYV, META, ODFL, PRM, SIRI, TXN, VRSN	Logistics, multi-cap, Quality, technology, value	The letter discusses an AI-driven feeding frenzy of tech stocks, with Meta Platforms and Alphabet garnering favor given their position at the vanguard of artificial intelligence development. However, their traditional ad-supported businesses continue to demonstrate strength and drive healthy business value growth.	ODFL	View
2024 Q2	Jul 28, 2024	Weitz Partners III Opportunity Fund	9.1%	14.1%	AAPL, AMZN, AON, BRK-B, CCRD, CSGP, FIS, GOOG, GPN, IEX, KMX, LBRDA, LLYVA, LSXMK, LYV, MA, META, MSFT, NVDA, ODFL, PRM, SIRI, TXN	Long/Short, Mega Cap, Multi Cap, technology, value	AI initiatives have captivated investors' interest as companies like Alphabet, Amazon, and Meta are at the forefront of developing and deploying artificial intelligence in consumer and business applications. While AI development drives investor enthusiasm, these companies' traditional businesses continue to outperform and generate significant cash flow.		View
2023 Q2	Jul 20, 2023	Weitz Partners III Opportunity Fund	9.1%	14.1%	AMZN, AON, BRK-B, CHTR, DHR, EEFT, GOOGL, GPN, IEX, KMX, LBRDK, MA, META, MSFT, PMS, ROP, SIRI, TECH, TMO, V	AI, contrarian, large cap, Long/Short, technology, underperformance, value	The fund owned several companies deemed AI Winners including Alphabet, Microsoft, Amazon and Meta Platforms, which averaged roughly 16% of fund assets in 2025. Alphabet was the fund's top performer in both the quarter and year, with the latest Gemini AI release surpassing expectations and moving to the front of the pack on several benchmarks.	LBRDA BRK/A\|CSGP\|KMX	View
2024 Q1	Apr 25, 2024	Recurve Capital	-	-	AMT, AWI, CCOI, CVNA, SIRI	Concentration, Cruises, E-Commerce, growth, technology, value	Carvana is positioned as the market-leading pure-play e-commerce used auto retailer with only 1% market share in a large stable market. The company has significant future growth ahead with under-utilized fixed infrastructure that can leverage and grow into with additional labor. Carvana has embedded advantages across multiple dimensions because of its large-scale vertical production and logistics infrastructure.	CCOI AWI CVNA	View
2023 Q1	Mar 31, 2023	Weitz Partners III Opportunity Fund	9.1%	14.1%	AMZN, AON, BRK-B, CHTR, DHR, EEFT, GOOGL, GPN, IEX, KMX, LBRDK, LH, MA, META, MSFT, ROP, SIRI, TECH, TMO, V	AI, healthcare, Long/Short, technology, Telecommunications, value	The fund owned several companies deemed AI Winners including Alphabet, Microsoft, Amazon and Meta Platforms, averaging roughly 16% of fund assets in 2025. Alphabet was the top performer with the latest Gemini AI release surpassing expectations and moving to the front of the pack on several benchmarks.	LBRDA BRK/A\|CSGP\|KMX	View
2024 Q4	Jan 29, 2025	Weitz Multi Cap Equity Fund	-0.6%	15.6%	AIF.TO, BRK-B, DHR, EFX, GOOGL, GWRE, HEI, KMX, LBRDK, LBTYK, MA, META, ODFL, PRM, SIRI, TECH, TXN, V, VRSN	inflation, Multi Cap, rates, small caps, technology, value	Investor enthusiasm around artificial intelligence drove outsized returns on a handful of megacap tech stocks. While the fund stayed true to its investment philosophy and avoided chasing trends, many of their portfolio companies are actively exploring AI applications to enhance their operations and drive long-term growth.		View
2024 Q4	Jan 29, 2025	Weitz Partners III Opportunity Fund	1.1%	15.4%	AMZN, BRK-A, CCRD, CHTR, CSGP, DHR, FIS, GOOGL, GPN, LBRDA, MA, META, MSFT, PRM, ROP, SIRI, TECH, TMO, TXN, V	Life Sciences, Long/Short, Megacap, payments, technology, value	Investor enthusiasm around artificial intelligence drove outsized returns on a handful of megacap tech stocks. While the fund stayed true to its investment philosophy and avoided chasing trends, many portfolio companies are actively exploring AI applications to enhance their operations and drive long-term growth.		View
2023 Q4	Jan 27, 2024	Weitz Partners III Opportunity Fund	9.1%	14.1%	AMZN, BRK-B, CCRD, CHTR, CSGP, FIS, GOOG, GPN, GS, KMX, LBRDA, LSXMK, META, MKL, MSFT, PRM, QRTEP, ROP, SCHW, SIRI, SPY, V	large cap, Long/Short, Media, payments, technology, value	The fund initiated a new position in Global Payments, a leading provider of payments acceptance services with roughly four million merchant locations worldwide. Despite increased competition in the payments landscape, the managers believe Global Payments is more durable than feared and trades at a compelling valuation.	CGPN.L LBRDA 4IMPRINT CCRD	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 27, 2026	Fund Letters	City Different Investments - Global Equity	Sirius XM Holdings Inc.	Communication Services	Entertainment	Bull	NASDAQ	Berkshire Hathaway, capital allocation, Churn, media, Satellite Radio, shareholder returns, Subscription, Value	View Pitch
Apr 13, 2026	Fund Letters	Pittenger & Anderson	Sirius XM Holdings Inc.	Communication Services	Entertainment	Bull	NASDAQ	Berkshire Hathaway, capital allocation, Low Churn, platform, Satellite Radio, shareholder returns, Subscription	View Pitch
Apr 13, 2026	Fund Letters	Penn Davis McFarland	Sirius XM Holdings Inc	Communication Services	Entertainment	Bull	NASDAQ	Berkshire Hathaway, cash generation, index inclusion, John Malone, Merger Arbitrage, Satellite Radio, Special Situation, Tracking stock	View Pitch
Apr 13, 2026	Fund Letters	GDS Investments	Sirius XM Holdings Inc.	Communication Services	Entertainment	Bull	NASDAQ	Berkshire Hathaway, capital allocation, Low Churn, monetization, platform, Satellite Radio, shareholder returns, Subscription	View Pitch
Aug 7, 2025	Seeking Alpha	Steven Fiorillo	Sirius XM Holdings Inc.	Communication Services	Entertainment	Bull	NASDAQ	—	View Pitch

BSD Shareholders of SIRI

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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