Big Family Offices Split on Oracle as Ellison’s Wealth Surged

(Bloomberg) — Investment firms for the world’s ultra-rich differed on their stances on Oracle Corp., as the U.S. software giant’s shares rose the most in more than three decades and briefly made Chairman Larry Ellison the world’s richest person.

Two family offices belonging to the Rausing dynasty in Sweden and another controlling portion of Microsoft Corp. co-founder Paul Allen increased their stakes in Ellison’s software company in the three months ended Sept. 30, according to 13F regulatory filings.

Around the same time, hedge fund billionaire David Tepper’s and duty-free shopping mogul Alan Parker’s investment firms cut their Oracle positions, and Tepper’s Appaloosa LP sold off its entire stock worth $32.8 million on Sept. 30.

The moves come in the same quarter as Oracle’s biggest one-day stock gain since 1992; The Austin-based company has taken an aggressive view of its cloud business, cementing its place in the race to support software maker AI computing demand.

Following results that exceeded analysts’ expectations, Ellison’s fortune rose to $89 billion; This was the largest one-day increase ever recorded in the history of the Bloomberg Billionaires Index. Oracle’s shares have fallen nearly 30% since then.

Money managers who oversee more than $100 million in U.S. stocks are required to file a 13F form within 45 days of the end of each quarter to list their holdings in stocks traded on U.S. exchanges. It offers a rare look at how hedge funds and some large family offices invest.

Other important points in 13F applications include:

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