5 Stocks to Invest In Today According to Orkun Kilic’s Berry Street Capital

4. Nuance Communications, Inc. (NASDAQ:NUAN)

Berry Street Capital Stake Value: $29,043,000
Percentage of Berry Street Capital’s 13F Portfolio: 2.99%
Number of Hedge Fund Holders: 55

Nuance Communications, Inc. (NASDAQ:NUAN) develops conversational and cognitive artificial intelligence (AI) solutions that help people make better decisions in their daily lives. Microsoft Corporation (NASDAQ:MSFT) announced the completion of its purchase of Nuance Communications, Inc. (NASDAQ:NUAN) on March 4.

The hedge fund of Orkun Kilic entered the fourth quarter of 2021 with 525,000 shares of Nuance Communications, Inc. (NASDAQ:NUAN) in its portfolio worth around $29.04 million. The company has featured in Kilic’s portfolio since the second quarter of 2021.

At the end of 2021, 55 hedge funds in Insider Monkey’s database owned holdings in Nuance Communications, Inc. (NASDAQ:NUAN) worth $4.67 billion, down from 61 in the previous quarter with positions totaling $4.87 billion.

Rhizome Partners, in its third quarter 2021 investor letter, mentioned Nuance Communications Inc. (NASDAQ: NUAN). Here is what the firm said:

“We also exited our small position in Nuance upon Microsoft’s acquisition. Nuance is a leader in voice recognition software, with dominant market share, and its speech-to-text product is the gold standard in radiology. In addition, by eliminating the need for note taking and allowing doctors to focus on patient care, Nuance could transform the way doctors treat patients. We built a 1% position in Nuance after attending its comprehensive investor day. Our view is that if Nuance can successfully grow its voice-recognition software in doctor’s offices, it could be worth multiples of our cost basis. Microsoft’s acquisition eliminated the multi-bagger upside but also partially validates the belief that Nuance is a high-quality technology company. We exited Nuance with a 62% gain in less than a year. This example is representative of the slight adjustments we made to our portfolio construction. We will allocate to small bets on technology and high-growth companies that could increase our exposure to “right tail” upside. Rest assured that our focus is still roughly 50% real estate, 30% high-quality companies trading at cheap multiples of free cash flow, and the rest in investments with the potential for growth and higher upside.”