Core Insights - Sirius XM is a leading provider of satellite radio and audio entertainment services in the U.S., leveraging a subscription-driven business model complemented by advertising and licensing to generate consistent revenue streams [6] Company Overview - Sirius XM reported a total revenue of $8.56 billion and a net income of $805 million for the trailing twelve months (TTM) [4] - The company has a dividend yield of 4.91% and its stock price was $22.60 as of February 5, 2026 [4] - The subscriber base stood at 31.3 million at the end of 2025, which is a decline compared to the end of 2021 [7][10] Financial Performance - The company's free cash flow increased by 37% to $1.24 billion in 2025, indicating a recovery after a dip in 2024 [10] - Approximately 29.3% of free cash flow was utilized to meet dividend obligations in 2025, suggesting sufficient cash generation to potentially reduce outstanding shares and increase dividend payouts [11] Investment Activity - CHECK Capital Management increased its stake in Sirius XM by 821,657 shares during the fourth quarter of 2025, with an estimated transaction value of $17.66 million [2] - Following this transaction, Sirius XM represented 1.68% of CHECK Capital's $3.44 billion reportable U.S. equity assets [8] - Despite the increase in stake, Sirius XM is not among CHECK Capital's top five holdings, ranking as the seventh-largest stock in their portfolio [7]