Billionaire John Malone’s media conglomerate had a major shakeup of its various stocks, and here’s how to invest in them. Liberty Media on Thursday approved a split of its Liberty SiriusXM into two tracking stocks that separately represent New York-based satellite radio company SiriusXM Holdings and Liberty’s 30.3% stake in concert and ticketing giant Live Nation Entertainment. Investing alongside Malone is complicated for individuals because Liberty Media has a string of tracking stocks for all its different businesses. The media conglomerate has two tracking stock groups: Liberty SiriusXM Group and Formula One Group. The former includes SiriusXM and Live Nation Entertainment, while the latter contains Liberty’s Formula 1 global motorsport subsidiary and other minority investments. Tracking stocks are different than traditional common stocks as they trade on the financial performance of a specific business unit, instead of the operations of the company as a whole. Typically, tracking stocks also have no voting rights . Liberty Media owns Formula One, which trades under tracking stock Liberty Media Formula One . SiriusXM Holdings, of which the conglomerate owns 80%, has common stock SIRI as well as tracking stocks LSXMK and LSXMA. Live Nation trades under its common stock ticker LYV while’s Liberty’s share is available under the LLYVA and LLYVB tracking stocks . In July, four-time World Series champion Atlanta Braves was spun off from Liberty Media Corp. to trade separately under the ticker BATRA on the Nasdaq, becoming Major League Baseball’s only publicly-traded franchise. Narrowing NAV? For the new Liberty SiriusXM tracking stocks LSXMK and LSXMA, the reclassification could help narrow the stock’s wide discount to its net asset value, according to Citi. The Wall Street bank estimated that LSXMA trades at a 43% discount to NAV. Citi recently reiterated its buy rating on the stock, seeing a path for LSXMA’s NAV discount to narrow. Citi also raised its price target to $46 from $39, translating into about a 40% gain from Thursday’s close of $32.93.