We present an ab initio approach for the description of collective excitations and transition strength distributions of arbitrary nuclei up into the sd-shell that based on the No-Core Shell Model in combination with the Lanczos strength-function method. Starting from two- and three-nucleon interactions from chiral effective field theory, we investigate the electric monopole, dipole, and quadrupole response of the even oxygen isotopes from 16-O to 24-O. The method describes the full energy range from low-lying excitations to the giant resonance region and beyond in a unified and consistent framework, including a complete description of fragmentation and fine-structure. This opens unique opportunities for understanding dynamic properties of nuclei from first principles and to further constrain nuclear interactions. We demonstrate the computational efficiency and the robust model-space convergence of our approach and compare to established approximate methods, such as the Random Phase Approximation, shedding new light on their deficiencies.