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Billionaire Carl Icahn Further Trims Stake In Nuance Communications, Inc. (NUAN)

Published on March 17, 2016 at 4:05 pm by Meena Krishnamsetty in Hedge Funds, News
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Billionaire activist Carl Icahn‘s Icahn Capital has recently cut its position in Nuance Communications Inc. (NASDAQ:NUAN), according to a recent filing with the US Securities and Exchange Commission. The filing showed that Icahn owns around 30.07 million shares of Nuance, which represent 9.88% of the company’s outstanding stock. The holding compares with 34.47 million shares the investor disclosed in an earlier filing.

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Earlier this month, Icahn entered into a Stock Purchase Agreement with Nuance Communications Inc. (NASDAQ:NUAN), under the terms of which the investor sold some 26.32 million shares to Nuance at $19.00 apiece (read more details here).

Overall, heading into 2016, a total of 31 of the hedge funds tracked by Insider Monkey held long positions in Nuance Communications Inc. (NASDAQ:NUAN), with Icahn Capital holding the largest position. Principal Global Investors‘ Columbus Circle Investors also reported a substantial position, worth $88.7 million as of the end of 2015. Other funds bullish on Nuance include Jim Simons’ Renaissance Technologies, D. E. Shaw’s D E Shaw and Israel Englander’s Millennium Management.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
High River Limited Partnership 6,013,769 0 6,013,769 0 6,013,769 1.98%
Hopper Investments 0 6,013,769 0 6,013,769 6,013,769 1.98%
Barberry Corp 0 6,013,769 0 6,013,769 6,013,769 1.98%
Icahn Partners Master Fund 9,989,076 0 9,989,076 0 9,989,076 3.28%
Icahn Offshore 0 9,989,076 0 9,989,076 9,989,076 3.28%
Icahn Partners 14,065,988 0 14,065,988 0 14,065,988 4.62%
Icahn Onshore 0 14,065,988 0 14,065,988 14,065,988 4.62%
Icahn Capital 0 24,055,064 0 24,055,064 24,055,064 7.90%
IPH GP 0 24,055,064 0 24,055,064 24,055,064 7.90%
Icahn Enterprises Holdings 0 24,055,064 0 24,055,064 24,055,064 7.90%
Icahn Enterprises G.P. Inc 0 24,055,064 0 24,055,064 24,055,064 7.90%
Beckton Corp 0 24,055,064 0 24,055,064 24,055,064 7.90%
Carl C. Icahn 0 30,068,833 0 30,068,833 30,068,833 9.88%

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Page 1 of 21 SEC Filing

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)*
Nuance Communications, Inc.
(Name of Issuer)
Common Stock, $0.001 par value per share
(Title of Class of Securities)
67020Y100
(CUSIP Number)
Jesse A. Lynn, Esq.
General Counsel
Icahn Capital LP
767 Fifth Avenue, 47th Floor
New York, New York 10153
(212) 702-4300
March 16, 2016
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
          Rule 13d-1(b)
   [X]   Rule 13d-1(c)
          Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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