Sirius XM, a Berkshire Hathaway holding, has struggled but continues to be added to by an investor, likely Ted Wechsler. With potential for a risky turnaround, the stock’s low valuation and Berkshire’s increased stake suggest possible better returns in 2026.

Despite subscriber and revenue declines, Sirius XM is making small improvements. The company is experimenting with advertising-based tiers and partnerships to boost revenue per user. Management is also aggressively cutting costs, with expected declines in capital expenditures over the next few years.

While Sirius XM’s slow-moving subscription business may not change much in 2026, its stock price could. If the company can stabilize revenue and return to growth, its valuation multiple could shift significantly. With a low valuation and high leverage, any positive growth could impact investor sentiment.

Read more at Nasdaq: Where Will Sirius XM Holdings Be in 1 Year?