Mar Vista Investment Partners, LLC, an investment management company, has released its third quarter 2024 Global Strategy investor letter. A copy of the letter can be downloaded here. The quarter marked another robust period for U.S. and international equity markets. The 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 returns of +6.36% and +6.61% for the MSCI World Net Index and the MSCI All Country World Net Index, respectively . The global market is entering an easing cycle, with interest rates not above historical norms, potentially encouraging further progress. Also, please check out the fund’s top five holdings to know the best picks in 2024.

Mar Vista Global Strategy highlighted stocks like Oracle Corporation (NYSE:ORCL) in its Q3 2024 investor letter. Oracle Corporation (NYSE:ORCL) provides products and services for enterprise information technology environments. Oracle Corporation (NYSE:ORCL)’s one-month return was 5.61%, and its shares have gained 58.40% of their value over the past 52 weeks. On December 2, 2024, Oracle Corporation (NYSE:ORCL) stock closed at $181.41 per share with a market cap of $502.7 billion.

Mar Vista Global Strategy stated the following regarding Oracle Corporation (NYSE:ORCL) in its third quarter 2024 investor letter:

“Oracle Corporation (NYSE:ORCL) is seeing revenue rise as the company benefits from multi-year investments in cloud-based solutions that are now driving demand. The company is seeing widespread demand for several of its cloud offerings, including its Fusion ERP Suite, its NetSuite offering and Oracle Database. In addition to these anchor products, Oracle is also gaining traction with its Platform-as-a-Service offering OCI Gen 2, which is gaining traction with 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 hyperscaler offering, supported by Oracle’s recently announced partnerships with Microsoft Azure, Google Compute Platform and Amazon AWS, all of which have agreed to provide the flagship database of Oracle to host cloud environments in their respective hyperscalers. We believe this could support a third stage of growth for Oracle as its large installed base of database customers transitions from on-premises to cloud deployments. As database customers move to a cloud subscription model, Oracle could increase database software support revenue by three to five times. We continue to believe that Oracle is well positioned to achieve significant double-digit growth in intrinsic value over our investment horizon.”

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Oracle Corporation (NYSE:ORCL) ranks at number 27 in our list of the 31 most popular stocks among hedge funds. According to our database, 91 hedge fund portfolios held Oracle Corporation (NYSE:ORCL) at the end of the third quarter, up from 93 in the previous quarter. Oracle Corporation (NYSE:ORCL) reported fiscal first quarter 2025 revenue of $13.3 billion, 8% more than last year. While we recognize Oracle Corporation (NYSE:ORCL)’s potential as an investment, we believe AI stocks have more promise for delivering higher returns, and within a shorter time frame. If you’re looking for an AI stock that has the same promise as NVIDIA but costs less than five times its earnings, check out our report on it cheapest AI stock.

In another article, we discussed Oracle Corporation (NYSE:ORCL) and shared the list of trending AI stocks to watch in December. The Columbia Threadneedle Global Technology Growth Strategy benefited from Oracle Corporation’s (NYSE:ORCL) stock’s recent rise in the third quarter. You can also find additional investor letters from hedge funds and other leading investors on our Q3 2024 Hedge Fund Investor Letters page.

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