How to view Oracle after the big surge? In Q3, there is a huge divergence among institutions, with some increasing their positions and others liquidating to "escape the peak."

After the historic surge in stock prices driven by the AI boom, software giant Oracle has become a key point of divergence for top investment institutions in the third quarter. According to 13F filings, hedge fund billionaire David Tepper's Appaloosa completely liquidated its entire Oracle holdings, while Japanese investment giant SoftBank also fully exited its investment in the company. Meanwhile, two family offices from Sweden's Rausing chose to increase their stakes in Oracle during the third quarter. In the third quarter, Oracle's stock price recorded its largest single-day increase since 1992, leading to a one-day wealth surge of $89 billion for Chairman Ellison, setting a record for the largest single-day increase in the Bloomberg Billionaires Index. However, the stock price subsequently fell by about 30%, with the 5-year credit default swap (CDS) spread exceeding 100 basis points. Institutional "Top-Taking" and Increased Holdings Coexist In the third quarter, institutional investors' operations regarding Oracle showed a clear polarization. According to Bloomberg, Appaloosa LP not only liquidated all its Oracle shares but also sold off its entire Intel holdings and most of its position in UnitedHealth Group. During the same period, the company established new positions in American Airlines Group and KeyCorp. Japanese multinational investment company SoftBank also exited Oracle in the third quarter. According to its 13F filings, SoftBank cleared all its holdings in Oracle and Cipher Mining during the quarter ending September 30. During the same period, SoftBank established new positions in Intel and Klarna, purchasing approximately 87 million shares of Intel and 15.4 million shares of Klarna. In contrast, some family offices chose to increase their holdings in Oracle during this period. Documents show that during the three months ending September 30, two family offices from Sweden's Rausing increased their stakes in Oracle. Also optimistic about Oracle is the investment institution managing part of the estate of Microsoft co-founder Paul Allen, which also increased its investment in the software company during the same period. These buying actions indicate that, in the eyes of some long-term investors, Oracle's AI-driven growth story is far from over. The information on these institutions' holdings changes comes from 13F filings. According to regulations, managers of over $100 million in U.S. stock assets must submit this document within 45 days after the end of each quarter to disclose their holdings