Mar Vista Investment Partners, LLC, an investment management company, released the “Global Strategy” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The quarter marked another robust period for the U.S. and international stock markets. Utilities, real estate, industrials, and financials sectors outperformed the technology sector in the quarter. In the third quarter, the strategy returned +7.23% net-of-fees compared to +6.36% and +6.61% returns for the MSCI World Net Index and the MSCI All Country World Net Index. The global market is entering an easing cycle, with interest rates not exceeding historical norms, potentially supporting additional advances. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Mar Vista Global Strategy highlighted stocks like Oracle Corporation (NYSE:ORCL), in the third quarter 2024 investor letter. Oracle Corporation (NYSE:ORCL) offers products and services that address enterprise information technology environments. The one-month return of Oracle Corporation (NYSE:ORCL) was 5.61%, and its shares gained 58.40% of their value over the last 52 weeks. On December 2, 2024, Oracle Corporation (NYSE:ORCL) stock closed at $181.41 per share with a market capitalization of $502.7 billion.
Mar Vista Global Strategy stated the following regarding Oracle Corporation (NYSE:ORCL) in its Q3 2024 investor letter:
“Oracle Corporation (NYSE:ORCL) is seeing revenue acceleration as it benefits from several years of investing in cloud-based solutions, which are now driving demand. The company is seeing broad-based demand for multiple of its cloud offerings, including its Fusion ERP Suite, its NetSuite offering and the Oracle Database. In addition to those anchor products, Oracle is also gaining traction with its OCI Gen 2 platform-as-a-service offering, which is winning mindshare from leading cloud customers, including Open AI, due to its favorable performance and cost metrics. This OCI Gen 2 solution is well-positioned to become a viable hyper scaler offering, furthered by Oracle’s recently announced partnerships with Microsoft Azure, Google Compute Platform, and Amazon’s AWS, which have all agreed to host Oracle’s flagship database in their respective hyper-scaler cloud environments. We believe this could support a third leg of growth for Oracle as its large installed base of database customers shift from on-premises to cloud deployments. As database customers migrate to a Cloud subscription model, Oracle could increase database software support revenues by 3-to-5 times. We continue to believe Oracle is well-positioned to grow intrinsic value strong double-digits over our investment horizon.”
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Oracle Corporation (NYSE:ORCL) ranks 27th in our list of the 31 Most Popular Stocks Among Hedge Funds. As per our database, 91 hedge fund portfolios held Oracle Corporation (NYSE:ORCL) at the end of the third quarter which was 93 in the previous quarter. Oracle Corporation (NYSE:ORCL) reported a $13.3 billion in revenues in the fiscal first quarter of 2025, up 8% from last year. While we acknowledge the potential of Oracle Corporation (NYSE:ORCL) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Oracle Corporation (NYSE:ORCL) and shared the list of trending AI stocks to watch in December. Columbia Threadneedle Global Technology Growth Strategy benefited from Oracle Corporation (NYSE:ORCL) stock’s recent price appreciation in the third quarter. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.