# Oracle (ORCL.US)

Canonical: https://gigainvestors.com/s/ORCL

Analysis as of: 2026-10-16T07:30:56.828Z. Financial observations: FY1997–FY2027.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $134.47 per share; close as of 2026-10-15.

Estimated value: low $53.10 per share, central $68.49 per share, high $78.27 per share. Buy at or below the central value $68.49 per share. Valuation as of 2026-10-16T07:30:56.828Z; scenarios are not confidence intervals.

Expected annual return: 6.3% at the stated quote. About 6.3% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: pass

- 2 revenue declines in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 2

- Years with a net loss: 0

- Operating margin variation: 0.12×

Chart: Operating margin; fiscal year observations.

- FY2018: 0.33×

- FY2019: 0.34×

- FY2020: 0.36×

- FY2021: 0.38×

- FY2022: 0.26×

- FY2023: 0.26×

- FY2024: 0.29×

- FY2025: 0.31×

- FY2026: 0.31×

- LTM to Aug 2026: 0.32×

### moat: fail

- Years with nonpositive invested capital use equity plus debt and leases; positive earnings with no positive capital are shown above 100%.

- Recent gross margin fell 12.0pp below the typical margin (limit 4pp)

- ROIC, median of available years: 17.2%

- ROIC, second-lowest year: 14.0%

- Typical minus recent gross margin: 12.0 pp

- Typical gross margin (annual median): 76.0%

- Recent gross margin (lower of latest and 3-year median): 63.9%

- Years with nonpositive capital: 4

- Capital spending / revenue: 11.8%

- ROIC including acquisitions, ten-year median: 11.6%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2018: 8.1%

- FY2019: 15.7%

- FY2020: 14.0%

- FY2021: 17.0%

- FY2022: >100%

- FY2023: 63.9%

- FY2024: 45.2%

- FY2025: 30.4%

- FY2026: 17.4%

- LTM to Aug 2026: 16.4%

### economics: fail

- owner earnings cash conversion below threshold

- Owner earnings / net income, 5-yr: 0.01×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $755M

- Net income, five-year total: $55B

- Return on incremental invested capital: 15.1%

- Working capital / revenue, annual change: -1.1 pp

- Working capital / revenue, change between three-year averages: -7.3 pp

- Working capital / revenue, final three-year average: 5.4%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2022: 0.84×

- FY2023: 0.88×

- FY2024: 1.00×

- FY2025: -0.07×

- FY2026: -1.29×

### management: pass

- Historical market-dollar context (not the management verdict): 2017 to 2026 (9 years)

- potential debt-funded buybacks (informational)

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 15.7% vs 30.4%

- Per-share earnings: 2.07 to 4.34 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: -3.8%

- Ordinary dilution, 5-year annual growth: -0.7%

- Market cap gain: $462B

- Cumulative retained earnings: -$32B

- Diluted shares, 10-year annual growth: -3.8%

- Diluted shares, 5-year annual growth: -0.7%

- $1 test, starting fiscal year: FY2017

- $1 test, ending fiscal year: FY2026

- Per-share value growth: 9.7%

- Per-share value change: $2.27

- Per-share value, starting three-year median: $2.07

- Per-share value, ending three-year median: $4.34

- Buybacks concentrated in cheaper years (correlation): 0.78

- Average buyback yield: 6.3%

- Buyback history: 10 years

- Debt-funded buybacks: Yes

- Acquisition spending: $38B

- Cumulative net income, 10 years: $103B

- ROIC, first three-year median: 15.7%

- ROIC, last three-year median: 30.4%

Chart: Earnings per share; fiscal year observations.

- FY2017: $2.24

- FY2018: $0.85

- FY2019: $2.97

- FY2020: $3.08

- FY2021: $4.55

- FY2022: $2.41

- FY2023: $3.07

- FY2024: $3.71

- FY2025: $4.34

- FY2026: $5.86

### accounting: pass

- stock compensation exceeds 15% of operating cash flow

- Sloan accruals: -5.7%

- Receivables to sales index (DSRI): 1.03×

- Restructuring years, last five: 2

- Stock compensation / operating cash flow: 15.0%

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.87×

- Accounting red flags: 1

- Goodwill and intangibles / equity: 1.54×

Chart: Sloan accruals; fiscal year observations.

- FY2017: -3.5%

- FY2018: -8.6%

- FY2019: -3.2%

- FY2020: -2.6%

- FY2021: -1.6%

- FY2022: -2.6%

- FY2023: -6.4%

- FY2024: -5.8%

- FY2025: -5.0%

- FY2026: -5.7%

## Holders

- [John Rogers](https://gigainvestors.com/AI): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Christopher Davis](https://gigainvestors.com/DAV): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Matthew McLennan](https://gigainvestors.com/FE): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Thomas Russo](https://gigainvestors.com/GR): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Bill Nygren](https://gigainvestors.com/HA): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Mark Hillman](https://gigainvestors.com/HCM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Allen Bond](https://gigainvestors.com/JIM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Nick Train](https://gigainvestors.com/LT): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Andrew Adams](https://gigainvestors.com/MPF): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Richard Pzena](https://gigainvestors.com/PIM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Harry Burn](https://gigainvestors.com/SSHFX): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Wallace Weitz](https://gigainvestors.com/WIM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [William Von Mueffling](https://gigainvestors.com/cc): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Dan Davidowitz](https://gigainvestors.com/pcm): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 52% since Sep 2025 · "Oracle stock falls on more debt to fund AI chip buying, OpenAI revenue disclosure" (finance.yahoo.com, Oct 2026) · sales +6.6%

Story as of 2026-10-16T09:59:20.429Z; price observation 2026-10-15.

Price needs cash profits to grow 15.3% a year for ten years

- 2025-05-31: Nvidia, Oracle could see huge revenue boosts from Stargate data center in Texas: UBS ([seekingalpha.com](https://seekingalpha.com/news/4453905-nvidia-oracle-could-see-huge-revenue-boosts-from-stargate-data-center-in-texas-ubs?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

- 2025-06-30: Oracle signs cloud deal worth $30 billion a year ([finance.yahoo.com](https://finance.yahoo.com/news/oracle-inks-cloud-deal-worth-150659560.html))

- 2025-09-10: Oracle shares soar on $144 billion AI cloud revenue forecast ([finance.yahoo.com](https://finance.yahoo.com/news/oracle-shares-soar-144-billion-130626991.html))

- 2025-11-14: Oracle hit hard in Wall Street’s tech sell-off over its huge AI bet ([finance.yahoo.com](https://finance.yahoo.com/news/oracle-hit-hard-wall-street-050038400.html))

- 2026-05-07: Why Oracle (ORCL) Is Up 18.4% After New OpenAI‑Linked AI Infrastructure Deals And Financing ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/why-oracle-orcl-18-4-052219402.html))

- 2026-06-11: Oracle sees higher capex, 'step down' in gross margin in fiscal '27; shares tumble ([seekingalpha.com](https://seekingalpha.com/news/4602468-oracle-sees-higher-capex-step-down-in-gross-margin-in-fiscal-27-shares-tumble?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

### Sales · FY2026–2027

sales +6.6%; source https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm; observed 2026-06-22.

- FY2018: $40B 

- FY2019: $40B 

- FY2020: $39B 

- FY2021: $40B 

- FY2022: $42B 

- FY2023: $50B 

- FY2024: $53B 

- FY2025: $57B 

- FY2026: $67B 

- FY2027: $72B 

### Gross margin · FY2027

gross margin 63.9%; source https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm; observed 2026-06-22.

- FY2018: 79.8% 

- FY2019: 79.8% 

- FY2020: 79.7% 

- FY2021: 80.6% 

- FY2022: 79.1% 

- FY2023: 72.8% 

- FY2024: 71.4% 

- FY2025: 70.5% 

- FY2026: 65.2% 

- FY2027: 63.9% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in software infrastructure; annual sales are USD 67.4 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm (filed 2026-06-22); FY2026: revenue 67358000000; grossProfit 43916000000; margin = grossProfit / revenue.

### Why customers stay

Margins ranged from 65.2% to 71.4% during 2024–26; it earns 17.2% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); FY2024: grossProfit / revenue = 71.4%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); FY2025: grossProfit / revenue = 70.5%.

- Source: https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm (filed 2026-06-22); FY2026: grossProfit / revenue = 65.2%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); 10-year return on capital observations [[2018,0.0805824789000944],[2019,0.15686084989456864],[2020,0.13953503675922868],[2021,0.170009946023267],[2022,2.4438896284092686],[2023,0.6385003050790681],[2024,0.4519868824565986],[2025,0.3037328703757402],[2026,0.1737362554582374],[2027,0.16397525462202436]]; median 0.17187310074075218. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 10 of 10 years; bought back USD 206 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); FY2017: growth capex 0; upkeep 2021000000; owner earnings 9882000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); FY2018: growth capex 0; upkeep 1736000000; owner earnings 4636000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); FY2019: growth capex 0; upkeep 1660000000; owner earnings 12342000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); FY2020: growth capex 0; upkeep 1564000000; owner earnings 11539000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); FY2021: growth capex 0; upkeep 2135000000; owner earnings 14527000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); FY2022: growth capex 340901611.505177; upkeep 4170098388.494823; owner earnings 5668901611.505177. Growth capex / owner earnings = 0.06013539039261305.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); FY2023: growth capex 1597246986.0752335; upkeep 7097753013.924767; owner earnings 7513246986.075233. Growth capex / owner earnings = 0.21259077320837586.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); FY2024: growth capex 727000000; upkeep 6139000000; owner earnings 10467000000. Growth capex / owner earnings = 0.06945638673927582.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); Dividend observations: [[2017,2631000000],[2018,3140000000],[2019,2932000000],[2020,3070000000],[2021,3063000000],[2022,3457000000],[2023,3668000000],[2024,4391000000],[2025,4743000000],[2026,5787000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm (filed 2026-06-22); FY2026: cash repurchases 206000000 USD.

### Are managers owners

Insiders own 38.4% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); ORCL.US SharesStats.PercentInsiders = 38.395 percentage points; cache date 2026-10-16.

### What could break it

"There are risks associated with our outstanding and future indebtedness." (SEC filing, Jun 2026)

- Source: https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm (filed 2026-06-22); There are risks associated with our outstanding and future indebtedness.

### What the price says

The price assumes cash profits grow 15.3% yearly over ten years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-06-22); Ten-year compound average after fade. Initial solved rate 0.2084237043246705. Price 134.47; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03. FY2016 owner earnings/share 2.3742160278745645 → FY2026 -7.546847806638109. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $38.42 per share

- 2016-11: $40.19 per share

- 2016-12: $38.45 per share

- 2017-01: $40.11 per share

- 2017-02: $42.59 per share

- 2017-03: $44.61 per share

- 2017-04: $44.96 per share

- 2017-05: $45.39 per share

- 2017-06: $50.14 per share

- 2017-07: $49.93 per share

- 2017-08: $50.33 per share

- 2017-09: $48.35 per share

- 2017-10: $50.90 per share

- 2017-11: $49.06 per share

- 2017-12: $47.28 per share

- 2018-01: $51.59 per share

- 2018-02: $50.67 per share

- 2018-03: $45.75 per share

- 2018-04: $45.67 per share

- 2018-05: $46.72 per share

- 2018-06: $44.06 per share

- 2018-07: $47.68 per share

- 2018-08: $48.58 per share

- 2018-09: $51.56 per share

- 2018-10: $48.84 per share

- 2018-11: $48.76 per share

- 2018-12: $45.15 per share

- 2019-01: $50.23 per share

- 2019-02: $52.13 per share

- 2019-03: $53.71 per share

- 2019-04: $55.33 per share

- 2019-05: $50.60 per share

- 2019-06: $56.97 per share

- 2019-07: $56.30 per share

- 2019-08: $52.06 per share

- 2019-09: $55.03 per share

- 2019-10: $54.49 per share

- 2019-11: $56.14 per share

- 2019-12: $52.98 per share

- 2020-01: $52.45 per share

- 2020-02: $49.46 per share

- 2020-03: $48.33 per share

- 2020-04: $52.97 per share

- 2020-05: $53.77 per share

- 2020-06: $55.27 per share

- 2020-07: $55.45 per share

- 2020-08: $57.22 per share

- 2020-09: $59.70 per share

- 2020-10: $56.11 per share

- 2020-11: $57.72 per share

- 2020-12: $64.69 per share

- 2021-01: $60.43 per share

- 2021-02: $64.51 per share

- 2021-03: $70.17 per share

- 2021-04: $75.79 per share

- 2021-05: $78.74 per share

- 2021-06: $77.84 per share

- 2021-07: $87.14 per share

- 2021-08: $89.13 per share

- 2021-09: $87.13 per share

- 2021-10: $95.94 per share

- 2021-11: $90.74 per share

- 2021-12: $87.21 per share

- 2022-01: $81.16 per share

- 2022-02: $75.97 per share

- 2022-03: $82.73 per share

- 2022-04: $73.40 per share

- 2022-05: $71.92 per share

- 2022-06: $69.87 per share

- 2022-07: $77.84 per share

- 2022-08: $74.15 per share

- 2022-09: $61.07 per share

- 2022-10: $78.07 per share

- 2022-11: $83.03 per share

- 2022-12: $81.74 per share

- 2023-01: $88.46 per share

- 2023-02: $87.40 per share

- 2023-03: $92.92 per share

- 2023-04: $94.72 per share

- 2023-05: $105.94 per share

- 2023-06: $119.09 per share

- 2023-07: $117.23 per share

- 2023-08: $120.39 per share

- 2023-09: $105.92 per share

- 2023-10: $103.40 per share

- 2023-11: $116.21 per share

- 2023-12: $105.43 per share

- 2024-01: $111.70 per share

- 2024-02: $111.68 per share

- 2024-03: $125.61 per share

- 2024-04: $113.75 per share

- 2024-05: $117.19 per share

- 2024-06: $141.20 per share

- 2024-07: $139.45 per share

- 2024-08: $141.29 per share

- 2024-09: $170.40 per share

- 2024-10: $167.84 per share

- 2024-11: $184.84 per share

- 2024-12: $166.64 per share

- 2025-01: $170.06 per share

- 2025-02: $166.06 per share

- 2025-03: $139.81 per share

- 2025-04: $140.72 per share

- 2025-05: $165.53 per share

- 2025-06: $218.63 per share

- 2025-07: $253.77 per share

- 2025-08: $226.13 per share

- 2025-09: $281.24 per share

- 2025-10: $262.61 per share

- 2025-11: $201.95 per share

- 2025-12: $194.91 per share

- 2026-01: $164.58 per share

- 2026-02: $145.40 per share

- 2026-03: $147.11 per share

- 2026-04: $161.39 per share

- 2026-05: $225.78 per share

- 2026-06: $146.55 per share

- 2026-07: $129.87 per share

- 2026-08: $149.12 per share

- 2026-09: $137.30 per share

- 2026-10: $143.20 per share

## Annual estimated value (USD per share)

- FY2017: low $45.93 per share, central $50.19 per share, high $55.86 per share

- FY2018: low $47.46 per share, central $54.72 per share, high $61.25 per share

- FY2019: low $48.33 per share, central $60.63 per share, high $69.29 per share

- FY2020: low $54.92 per share, central $67.16 per share, high $76.38 per share

- FY2021: low $65.09 per share, central $81.34 per share, high $92.94 per share

- FY2022: low $56.73 per share, central $63.52 per share, high $72.54 per share

- FY2023: low $60.59 per share, central $68.63 per share, high $79.33 per share

- FY2024: low $43.93 per share, central $49.52 per share, high $56.95 per share

- FY2025: low $40.26 per share, central $50.45 per share, high $58.35 per share

- FY2026: low $50.85 per share, central $65.87 per share, high $75.42 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:36:41.694Z where newer inputs omit a numeric field or fiscal period.

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1341439/000119312526277521/orcl-20260531.htm); period 2026-05-31, filed 2026-06-22.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [John Rogers](https://gigainvestors.com/AI): 13,730 ORCL shares; USD 2,012,000 reported position value; 0.02% of portfolio; reduce; quarter 2026 Q2.
- [Christopher Davis](https://gigainvestors.com/DAV): 74,923 ORCL shares; USD 10,974,000 reported position value; 0.05% of portfolio; reduce; quarter 2026 Q2.
- [Matthew McLennan](https://gigainvestors.com/FE): 8,516,878 ORCL shares; USD 1,248,148,000 reported position value; 2.06% of portfolio; add; quarter 2026 Q2.
- [Thomas Russo](https://gigainvestors.com/GR): 2,715 ORCL shares; USD 398,000 reported position value; 0% of portfolio; reduce; quarter 2026 Q2.
- [Bill Nygren](https://gigainvestors.com/HA): 650,879 ORCL shares; USD 95,386,000 reported position value; 0.13% of portfolio; reduce; quarter 2026 Q2.
- [Mark Hillman](https://gigainvestors.com/HCM): 11,496 ORCL shares; USD 1,685,000 reported position value; 1.22% of portfolio; reduce; quarter 2026 Q2.
- [Allen Bond](https://gigainvestors.com/JIM): 118,394 ORCL shares; USD 17,351,000 reported position value; 0.42% of portfolio; reduce; quarter 2026 Q2.
- [Nick Train](https://gigainvestors.com/LT): 9,000 ORCL shares; USD 1,319,000 reported position value; 0.05% of portfolio; hold; quarter 2026 Q2.
- [Andrew Adams](https://gigainvestors.com/MPF): 13,643 ORCL shares; USD 1,999,000 reported position value; 0.02% of portfolio; reduce; quarter 2026 Q2.
- [Richard Pzena](https://gigainvestors.com/PIM): 2,076 ORCL shares; USD 304,000 reported position value; 0% of portfolio; new; quarter 2026 Q2.
- [Harry Burn](https://gigainvestors.com/SSHFX): 454,708 ORCL shares; USD 66,637,000 reported position value; 2.05% of portfolio; new; quarter 2026 Q2.
- [Wallace Weitz](https://gigainvestors.com/WIM): 55,000 ORCL shares; USD 8,060,000 reported position value; 0.56% of portfolio; hold; quarter 2026 Q2.
- [William Von Mueffling](https://gigainvestors.com/cc): 105,457 ORCL shares; USD 15,455,000 reported position value; 2.32% of portfolio; reduce; quarter 2026 Q2.
- [Dan Davidowitz](https://gigainvestors.com/pcm): 3,574,259 ORCL shares; USD 523,808,000 reported position value; 4.51% of portfolio; reduce; quarter 2026 Q2.

# ORCL — Oracle Corp.

Held by 14 investors · USD 1,993,536,000 total · 2026 Q2 · reported price USD 146.55 (split-adjusted).
Page: https://gigainvestors.com/s/ORCL

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Matthew McLennan (https://gigainvestors.com/FE) | USD 1,248,148,000 | 2.1% | add +0.97% |
| Dan Davidowitz (https://gigainvestors.com/pcm) | USD 523,808,000 | 4.5% | reduce -28.86% |
| Bill Nygren (https://gigainvestors.com/HA) | USD 95,386,000 | 0.1% | reduce -12.11% |
| Harry Burn (https://gigainvestors.com/SSHFX) | USD 66,637,000 | 2.1% | new |
| Allen Bond (https://gigainvestors.com/JIM) | USD 17,351,000 | 0.4% | reduce -1.98% |
| William Von Mueffling (https://gigainvestors.com/cc) | USD 15,455,000 | 2.3% | reduce -91.78% |
| Christopher Davis (https://gigainvestors.com/DAV) | USD 10,974,000 | 0.1% | reduce -6.83% |
| Wallace Weitz (https://gigainvestors.com/WIM) | USD 8,060,000 | 0.6% | hold |
| John Rogers (https://gigainvestors.com/AI) | USD 2,012,000 | <0.1% | reduce -16.11% |
| Andrew Adams (https://gigainvestors.com/MPF) | USD 1,999,000 | <0.1% | reduce -55.59% |
| Mark Hillman (https://gigainvestors.com/HCM) | USD 1,685,000 | 1.2% | reduce -28.64% |
| Nick Train (https://gigainvestors.com/LT) | USD 1,319,000 | 0.1% | hold |
| Thomas Russo (https://gigainvestors.com/GR) | USD 398,000 | 0.0% | reduce -24.58% |
| Richard Pzena (https://gigainvestors.com/PIM) | USD 304,000 | 0.0% | new |

## Total held by quarter

- 2008 Q1: USD 229,830,000 · 1 holder · USD 19.56
- 2008 Q2: USD 110,250,000 · 1 holder · USD 21.00
- 2008 Q3: USD 32,851,425 · 1 holder · USD 20.31
- 2008 Q4: USD 11,698,343 · 1 holder · USD 17.73
- 2009 Q1: USD 0 · 0 holders
- 2009 Q2: USD 0 · 0 holders
- 2009 Q3: USD 0 · 0 holders
- 2009 Q4: USD 28,722,401 · 1 holder · USD 24.54
- 2010 Q1: USD 89,645,937 · 1 holder · USD 25.71
- 2010 Q2: USD 81,104,036 · 1 holder · USD 21.46
- 2010 Q3: USD 112,618,754 · 1 holder · USD 26.85
- 2010 Q4: USD 151,791,698 · 1 holder · USD 31.30
- 2011 Q1: USD 195,227,014 · 1 holder · USD 33.37
- 2011 Q2: USD 249,163,255 · 1 holder · USD 32.91
- 2011 Q3: USD 218,401,034 · 2 holders · USD 28.74
- 2011 Q4: USD 265,218,019 · 4 holders · USD 25.65
- 2012 Q1: USD 369,056,117 · 4 holders · USD 29.16
- 2012 Q2: USD 461,344,810 · 4 holders · USD 29.70
- 2012 Q3: USD 477,439,813 · 4 holders · USD 31.49
- 2012 Q4: USD 495,108,427 · 4 holders · USD 33.32
- 2013 Q1: USD 514,967,682 · 3 holders · USD 32.33
- 2013 Q2: USD 350,558,326 · 3 holders · USD 30.71
- 2013 Q3: USD 233,459,824 · 2 holders · USD 33.20
- 2013 Q4: USD 270,999,653 · 2 holders · USD 38.26
- 2014 Q1: USD 319,555,601 · 2 holders · USD 40.91
- 2014 Q2: USD 320,132,390 · 2 holders · USD 40.53
- 2014 Q3: USD 383,000 · 1 holder · USD 38.30
- 2014 Q4: USD 71,857,863 · 2 holders · USD 45.00
- 2015 Q1: USD 68,949,885 · 2 holders · USD 43.20
- 2015 Q2: USD 72,825,905 · 2 holders · USD 40.30
- 2015 Q3: USD 60,338,460 · 1 holder · USD 36.12
- 2015 Q4: USD 61,023,365 · 1 holder · USD 36.53
- 2016 Q1: USD 63,357,767 · 2 holders · USD 41.00
- 2016 Q2: USD 57,384,210 · 2 holders · USD 41.00
- 2016 Q3: USD 54,874,160 · 1 holder · USD 39.28
- 2016 Q4: USD 59,514,833 · 1 holder · USD 38.45
- 2017 Q1: USD 69,049,589 · 1 holder · USD 44.61
- 2017 Q2: USD 56,422,929 · 2 holders · USD 50.23
- 2017 Q3: USD 60,154,739 · 2 holders · USD 48.37
- 2017 Q4: USD 58,823,111 · 2 holders · USD 47.28
- 2018 Q1: USD 56,723,138 · 1 holder · USD 45.75
- 2018 Q2: USD 40,572,651 · 1 holder · USD 44.06
- 2018 Q3: USD 2,501,694,775 · 3 holders · USD 51.56
- 2018 Q4: USD 940,765,717 · 2 holders · USD 45.15
- 2019 Q1: USD 1,663,967,541 · 4 holders · USD 53.71
- 2019 Q2: USD 1,759,178,346 · 4 holders · USD 56.97
- 2019 Q3: USD 3,443,773,373 · 5 holders · USD 55.03
- 2019 Q4: USD 2,551,998,734 · 7 holders · USD 52.98
- 2020 Q1: USD 2,049,789,166 · 6 holders · USD 48.33
- 2020 Q2: USD 2,037,595,458 · 8 holders · USD 55.27
- 2020 Q3: USD 1,994,866,731 · 8 holders · USD 59.70
- 2020 Q4: USD 2,024,071,123 · 8 holders · USD 64.69
- 2021 Q1: USD 2,157,878,010 · 7 holders · USD 70.17
- 2021 Q2: USD 2,307,932,863 · 7 holders · USD 77.84
- 2021 Q3: USD 2,525,800,149 · 8 holders · USD 87.13
- 2021 Q4: USD 2,471,599,909 · 8 holders · USD 87.21
- 2022 Q1: USD 2,345,100,052 · 8 holders · USD 82.73
- 2022 Q2: USD 1,974,013,316 · 7 holders · USD 69.87
- 2022 Q3: USD 1,724,756,447 · 7 holders · USD 61.07
- 2022 Q4: USD 1,877,967,667 · 7 holders · USD 81.74
- 2023 Q1: USD 2,239,324,689 · 8 holders · USD 92.92
- 2023 Q2: USD 2,542,952,282 · 8 holders · USD 119.09
- 2023 Q3: USD 2,246,062,028 · 9 holders · USD 105.92
- 2023 Q4: USD 2,386,191,909 · 10 holders · USD 105.43
- 2024 Q1: USD 3,150,433,765 · 14 holders · USD 125.61
- 2024 Q2: USD 3,107,916,473 · 14 holders · USD 141.20
- 2024 Q3: USD 4,957,741,767 · 15 holders · USD 170.40
- 2024 Q4: USD 4,638,576,552 · 14 holders · USD 166.64
- 2025 Q1: USD 4,014,744,747 · 14 holders · USD 139.81
- 2025 Q2: USD 5,698,722,626 · 14 holders · USD 218.63
- 2025 Q3: USD 5,702,400,360 · 12 holders · USD 281.24
- 2025 Q4: USD 3,397,029,060 · 11 holders · USD 194.91
- 2026 Q1: USD 2,326,566,572 · 12 holders · USD 147.11
- 2026 Q2: USD 1,993,536,000 · 14 holders · USD 146.55