Mar Vista Investment Partners, LLC, an investment management company, released the “Global Strategy” second quarter 2024 investor letter. A copy of the letter can be downloaded here. In the second quarter, the strategy returned +2.04% net-of-fees compared to +2.66% and +2.92% returns for the MSCI World Net Index and the MSCI All Country World Net Index. In the first half of 2024, the MSCI All Country World Index Net appreciated 11.30%, marking one of its best performances since the late 1990s tech bubble. 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 second 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 2.38%, and its shares gained 15.13% of their value over the last 52 weeks. On August 26, 2024, Oracle Corporation (NYSE:ORCL) stock closed at $138.90 per share with a market capitalization of $382.789 billion.
Mar Vista Global Strategy stated the following regarding Oracle Corporation (NYSE:ORCL) in its Q2 2024 investor letter:
“Oracle Corporation (NYSE:ORCL) is seeing revenue acceleration as it benefits from several years of investing in cloud-based solutions that are now driving demand. Oracle’s OCI offering is recognized as a viable hyper scaler offering and is winning mindshare from leading cloud customers including Open AI. This is driving accelerating demand as it offers a strong value proposition to customers due to its favorable performance and cost metrics. This coupled with Oracle’s recently announced partnerships with Microsoft Azure and Google Compute Platform, which could help facilitate the migration of the Oracle Database to the cloud. We believe this should support a third leg of growth for Oracle as its large installed base of database customers shift from on-premise to cloud deployments. As database customers migrate to the cloud, Oracle could increase database software support revenues by two-to-three times. We continue to believe Oracle is well positioned to grow intrinsic value low-double-digits over our investment horizon.”
A team of IT professionals meticulously crafting a large-scale enterprise performance management system.
Oracle Corporation (NYSE:ORCL) ranks 27th in our list of the 31 Most Popular Stocks Among Hedge Funds. As per our database, 93 hedge fund portfolios held Oracle Corporation (NYSE:ORCL) at the end of the second quarter which was 96 in the previous quarter. Oracle Corporation (NYSE:ORCL) achieved a 6% growth in full fiscal year revenue, reaching $53 billion. 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 Invesco Growth and Income Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 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.
