Warren Buffett's Firm Reports Small Stake in DirecTV

Warren Buffett - Testifies At Financial Crisis Inquiry - 2010
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The investor's Berkshire Hathaway disclosed that it owned nearly 4.25 million shares in the satellite TV giant as of Sept. 30.

NEW YORK - Legendary investor Warren Buffett's Berkshire Hathaway in the third quarter bought a small stake in satellite TV operator DirecTV.

According to a regulatory filing, the conglomerate owned nearly 4.25 million shares worth $179.6 million as of Sept. 30, according to a regulatory filing on Monday that detailed the company's investments as of that date. At the end of the second quarter, it didn't own DirecTV shares, according to an older filing.

According to Bloomberg, DirecTV has 705.6 million shares outstanding, meaning Buffett's stake would amount to less than 1 percent of the satellite TV giant's public float. Still, the stake could be seen as a sign of confidence from one of the world's most closely followed investors that there is upside in DirecTV's stock.

Berkshire Hathaway's previously reported media holdings are newspaper companies Gannett and Washington Post. Exxon Mobil, General Electric, American Express and Dollar General are among the various other investments of the company.

DirecTV officials couldn't immediately be reached for comment. DirecTV's stock on Monday closed at $45.63, giving it a market value of $32.2 billion. Over the past year, the stock has traded between $39.12 and $53.40.

Email: Georg.Szalai@thr.com

Twitter: @georgszalai