RESEARCH — THE FILING TAPE #10

Fourteen of 83: One Holder Is 62.6% of the Superinvestors' Oracle Stake. Short Interest Just Hit a Record.

October 8, 2026

GetCoattail Research — Oracle just reported 30% revenue growth, a $664 billion contracted backlog and $28.5 billion of capital spending in one quarter, and the market is arguing about the cost. We ran it through every filing lens we maintain. The broad register added a quarter more shares in the second quarter. The concentrated cohort went the other way — and what is left of it sits mostly in one portfolio.

Start with the narrative, because it is a genuine fight. Oracle reported fiscal first-quarter 2027 results on September 10, 2026: revenue of $19.3 billion, up 30% year over year, adjusted EPS of $1.92 against a consensus of roughly $1.74, cloud infrastructure revenue up 121% to $7.4 billion, and remaining performance obligations — contracted revenue not yet recognised — of $664 billion, up $209 billion in a year and ahead of the roughly $618 billion to $630 billion analysts expected. The other side of the print was the cost: capital expenditure of $28.5 billion in a single quarter, against expectations of about $19.23 billion, free cash flow of roughly negative $5.4 billion, and about $125 billion of long-term borrowings. The stock rose about 4% after hours and fell roughly 5% the next session. Oracle was the seventh most-searched ticker on Benzinga Pro for September, closing October 1 at $138.07, down 29.5% year to date on that provider's figures. Consensus targets average roughly $238 to $246.

Now the filings. GetCoattail tracks the portfolios, trades and disclosures of the investors with the most information about any given company: superinvestors, institutions as a whole, insiders, members of Congress, and 5% holders. For Oracle — the tenth Filing Tape audit, after IREN, CoreWeave, Micron, NVIDIA, Tesla, AMD, Apple, Amazon and Meta — the broad and concentrated registers moved in opposite directions, and the borrow is at a record.

Lens 1: the superinvestors — fourteen holders, one of them 62.6%

We track 83 large, mostly long-only managers whose 13F portfolios we collect directly from SEC EDGAR. As of June 30, 2026, fourteen held Oracle in long common-stock positions — every one of the 14 reported rows is a long position, with no option rows in the count. The cohort's combined long position fell on a like-for-like pipeline basis from 15,815,143 shares at March 31 to 13,603,158 shares at June 30 — down 14.0% — in a quarter when the share price was nearly flat, closing at $147.11 on March 31 and $146.55 on June 30 in our price file (−0.4%). The pipeline and EDGAR-collection second-quarter totals agree exactly, at 13,603,158 shares, worth $1,993,537,107. Fourteen holders is a mid-pack bench — 20 tickers in the collection have more long holders, and three more match its fourteen — and the bench shrank its stake while the price did nothing.

What remains is concentrated to a degree none of the nine previous audits showed. The largest holder, First Eagle Investment Management, holds 8,516,878 shares — 62.6% of the cohort's entire Oracle position — and it is the only one of the 14 that increased, up 1.0%. The top three holders — First Eagle, Polen Capital with 3,574,259 shares, and Oakmark Funds with 650,879 — account for 93.7% of the cohort. The direction count: of the 14 long holders, 9 decreased, 1 increased, 2 were new and 2 were unchanged. Polen cut 28.9%; Cantillon Capital cut 91.8% and Mairs & Power cut 55.6%. The two new positions total 456,784 shares — Sound Shore with 454,708 and Pzena Investment Management with 2,076 — a fraction of the 2,211,985 shares the cohort shed net. This is not a cohort that left. It is a cohort that thinned to one large holder and a long tail.

Oracle through six filing lenses
Chart 1: Signal presence by cohort. Superinvestors: 83 managers, 2026Q2 13F (as of Jun 30, 2026). Institutions: full-market 13F aggregation, same date. Insiders: Form 4 record through Oct 2, 2026. Congress: Senate and House PTR record through Oct 3, 2026. 13D/G: filings through Mar 27, 2026. Short interest: FINRA biweekly settlement data through Sep 15, 2026. Source: SEC EDGAR; FINRA; GetCoattail collections.

Lens 2: institutions — 3,491 filers, shares up 24.93%

Zoom out to the whole 13F market and the register points the other way. At June 30, 2026, 3,491 institutions reported positions in Oracle, up from 3,416 at March 31 — a 2.2% rise — and 3,476 of them reported long positions. Reported share counts rose 24.93%, from 1,021,059,136 to 1,275,600,531 shares. The dataset's reported aggregate value rose 21.0% to $206,831,699,399; the aggregate includes option rows, so we treat filer and share counts as the reliable series and the dollar figure as reported (see methodology). One plausible reading is that part of this breadth is mechanical — index baskets and options books move share counts without any view on the company. But the contrast inside one quarter is the fact: the full register's share count rose by a quarter while the concentrated cohort's fell 14.0%, in a quarter when the price fell 0.4%.

Lens 3: the 5% register — one amendment, no readable stake

Exactly one SC 13D/G filing covers Oracle in our full-parse aggregation, and it is an amended 13G — the passive form. There is not one 13D, the filing an investor uses when it wants something from management. The single reporter is The Vanguard Group, in an amendment filed March 27, 2026 (event date March 13, 2026) — and its share count parses as zero in the filing data, the same reporting-structure pattern recorded in the Meta audit, so we do not use it as a sized stake. The honest summary: this register carries no readable sized position and no activist presence.

Lens 4: insiders — one purchase, dated September 29

The insider lens is where Oracle breaks this series' pattern. In the 90 days through October 2, 2026, Oracle insiders filed 14 reports covering one open-market purchase: 25,000 shares for $3,483,800, an average of $139.352 a share, by one buyer. Our site's insider aggregate dates that purchase to September 29, 2026 and agrees with the full-parse figures exactly. Against it sit three sale transactions totalling $5,342,123.36 — 36,075 shares sold by two sellers, all three sales by officers. The buyer was not an officer: the aggregate records zero officer purchases in the window, in the last year, and across the entire parsed record.

Widen the window and the proportions stay stark. Over the full year through October 2, 2026, the record shows the same single purchase — the only one in twelve months — against 28 sale transactions totalling $119,105,308.14 by nine sellers. Across the entire parsed Form 4 record (103 filings), purchases total five transactions and $4,655,116.03 by four buyers, against 86 sale transactions totalling $2,769,190,866.41 by thirteen sellers. Some selling is mechanical — vesting and tax withholding generate filings regardless of anyone's view — and we assign no motives, including to the purchase. What the record establishes is narrower: in a stock that closed at a 252-session low of $114.99 on July 24, 2026, exactly one insider transaction in a year was a purchase at market price.

Lens 5: Congress — one sale, no buys

Across the Senate and House transaction record we maintain (as of October 3, 2026), Oracle shows one sale transaction and zero purchases. The single sale sits in the Senate aggregate; the House aggregate carries no Oracle record at all. Congressional disclosures report value ranges rather than exact amounts, so we record direction only.

Lens 6: short interest — a series record, at 1.68% of the share count

As of September 15, 2026 — the most recent FINRA settlement date — 50,840,436 Oracle shares were sold short: the highest reading in the entire 137-settlement series we maintain. That is 1.68% of the 3,023,736,000 shares outstanding in our fundamentals file (a dei share count as of September 7, 2026), with days-to-cover of 1.36.

Short interest in Oracle, January 2021 to September 2026
Chart 2: Shares sold short in Oracle at each FINRA biweekly settlement, Jan 15, 2021 – Sep 15, 2026 (n = 137 settlements). The series peaked at its latest reading, 50,840,436 shares on Sep 15, 2026, up 115.6% from 23,583,435 a year earlier. Source: FINRA Equity Short Interest files; GetCoattail collection (orcl_short_interest_series.csv).

The path into the record matters. Short interest reached 50,143,917 shares on July 31, 2026, then fell at two consecutive settlements — to 47,767,442 on August 14 and 44,597,874 on August 31 — before jumping 14.0% to the record 50,840,436. The latest reading is up 115.6% from 23,583,435 a year earlier (September 15, 2025).

The gap, stated plainly

Oracle's filing record does not line up on one side. The broad register added 24.93% more shares in the second quarter and now counts 3,491 filers. The concentrated cohort did the opposite: 14 holders, shares down 14.0% in a flat quarter, nine of fourteen trimming, and 62.6% of what remains in a single portfolio — First Eagle's, the one position that grew. The 5% register is effectively blank, Congress has sold once and never bought, and the short borrow stands at a series record of 50,840,436 shares, up 115.6% in a year. Against all of that sits the most unusual insider fact in ten audits: one open-market purchase, 25,000 shares for $3,483,800 on September 29, 2026 — the year's only insider buy, made by a non-officer, in a stock down 54.5% from its 252-session closing high of $313.00 (October 16, 2025). One plausible reading is that the record describes a stock accumulated by the broad market's machinery, trimmed by the concentrated money, borrowed against at a record pace — and bought, once, by somebody inside it. The record supports each clause separately; it does not say which one leads.

What would change the picture

Nothing above is a recommendation. It is a record. These are the filings that would change the description:

Until one of those prints, the filing record describes a stock the broad register accumulated and the concentrated money trimmed, whose borrow has never been larger, and whose only insider purchase of the year arrived in late September.

Related reading: Thirty-One of 83: Five Managers Opened New Meta Positions. Its Insiders Have Never Bought a Share. — Filing Tape #9; Zero of 83: The Superinvestors Aren't in IREN — Filing Tape #1; 80% Overlap, No Copycat Signal: Congress vs. the Superinvestors. Oracle's own page: Oracle (ORCL) on GetCoattail.

Methodology and data notes

This article describes public filings as of the dates stated. It is not investment advice and makes no recommendation. Filings lag reality: 13F positions are as of June 30, 2026, and later trading is not yet public.

Revision history

MORE RESEARCH

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80% Overlap, No Copycat Signal: Congress vs. the Superinvestors
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