Billionaire George Soros Is Buying These 5 Stocks

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

Number of Hedge Fund Holders: 72

Percentage Increase in Stake During Q3: 112%

Nuance Communications, Inc. (NASDAQ: NUAN) provides artificial intelligence services. Software giant Microsoft purchased the company back in June for $20 billion and has filed for European approval in this regard as well. Microsoft is one of the largest holdings of Soros and this is perhaps why the investor increased stake in Nuance ahead of the completion of the purchase. 

According to the latest data, Soros Fund Management owned 2.8 million shares in Nuance Communications, Inc. (NASDAQ: NUAN) at the end of September 2021 worth $156 million, representing 2.9% of the portfolio. 

Among the hedge funds being tracked by Insider Monkey, New York-based firm Coatue Management is a leading shareholder in Nuance Communications, Inc. (NASDAQ: NUAN) with 13 million shares worth more than $732 million. 

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Nuance Communications, Inc. (NASDAQ:NUAN) was one of them. Here is what the fund said:

“In general, improving growth companies are taking specific actions to enhance their growth profiles going forward, whether through a restructuring, business model change, new management team or more productive use of assets. Another recent example is Nuance Communications, which was simplified and reorganized under new leadership in 2018 and subsequently acquired by Microsoft for a significant premium this quarter. This continues the Strategy’s long track record of positioning successfully to benefit from consolidation, with more than 80 companies having been acquired since inception.”