ADOBE INC ADBE
COM · Common Stock · CUSIP 00724F101 · ISIN US00724F1012
American multinational computer software company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($681.9m this quarter). Holder counts are more reliable. Shares outstanding: 435.3m as of 2025-01-03, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $443.78. Options: 75 managers hold calls ($5.2bn notional), 69 hold puts ($7.6bn).
Trends to Q4 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 2,169 |
| Q4 2022 | 2,311 |
| Q1 2023 | 2,335 |
| Q2 2023 | 2,527 |
| Q3 2023 | 2,621 |
| Q4 2023 | 2,834 |
| Q1 2024 | 2,778 |
| Q2 2024 | 2,764 |
| Q3 2024 | 2,800 |
| Q4 2024 | 2,866 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 1,146 | 989 |
| Q2 2023 | 1,209 | 1,098 |
| Q3 2023 | 1,226 | 1,102 |
| Q4 2023 | 1,237 | 1,211 |
| Q1 2024 | 1,381 | 1,279 |
| Q2 2024 | 1,364 | 1,238 |
| Q3 2024 | 1,381 | 1,162 |
| Q4 2024 | 1,228 | 1,363 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $6.5bn | $8.2bn | 1.26 |
| Q2 2024 | $6.7bn | $8.2bn | 1.22 |
| Q3 2024 | $5.4bn | $8.0bn | 1.47 |
| Q4 2024 | $5.2bn | $7.6bn | 1.46 |
Biggest buyers
| BlackRock, Inc. | Added | +2.1m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +952.2k |
| TWO SIGMA ADVISERS, LP | Added | +830.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +745.8k |
| FIL Ltd | Added | +730.5k |
| EDGEWOOD MANAGEMENT LLC | Added | +696.2k |
| NORTHERN TRUST CORP | Added | +672.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +600.1k |
| Point72 Asset Management, L.P. | Added | +482.2k |
| NORGES BANK | Added | +376.3k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -4.7m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -2.9m |
| FMR LLC | Reduced | -2.0m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -1.4m |
| VIKING GLOBAL INVESTORS LP | Reduced | -1.4m |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | Reduced | -1.4m |
| PRINCIPAL FINANCIAL GROUP INC | Reduced | -1.1m |
| ALLIANCEBERNSTEIN L.P. | Reduced | -832.0k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Reduced | -751.5k |
| BANK OF AMERICA CORP /DE/ | Reduced | -716.6k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $1.2bn2.6m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.1bn2.6m shares |
| IMC-Chicago, LLC | Added | $497.9m1.1m shares |
| PUBLIC INVESTMENT FUND | Added | $440.1m989.6k shares |
| WOLVERINE TRADING, LLC | Added | $183.8m412.3k shares |
| JANE STREET GROUP, LLC | Reduced | $177.5m399.1k shares |
| SIMPLEX TRADING, LLC | Added | $146.9m330.4k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $89.2m200.6k shares |
| PEAK6 LLC | First filing | $87.4m196.5k shares |
| D. E. Shaw & Co., Inc. | Added | $78.3m176.0k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.6bn3.5m shares |
| CITADEL ADVISORS LLC | Added | $895.9m2.0m shares |
| JANE STREET GROUP, LLC | Added | $588.8m1.3m shares |
| IMC-Chicago, LLC | Added | $414.9m933.1k shares |
| GOLDMAN SACHS GROUP INC | Added | $352.5m792.6k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $344.5m774.8k shares |
| PEAK6 LLC | First filing | $314.4m707.0k shares |
| Twin Tree Management, LP | Added | $274.5m617.3k shares |
| CMT Capital Markets Trading GmbH | Added | $239.6m538.9k shares |
| WOLVERINE TRADING, LLC | Added | $220.4m494.4k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2026-07-27 | 9.4% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.6% |
| STATE STREET CORP 13G · institution new · filed 2026-08-07 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q4 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2023 | 0 | — | 5 | $9.0m | $46.8k |
| Q2 2023 | 1 | $19.7k | 4 | $21.9m | — |
| Q3 2023 | 0 | — | 2 | $1.8m | $1.8m |
| Q4 2023 | 0 | — | 4 | $22.7m | $270.6k |
| Q1 2024 | 1 | $8.5k | 3 | $6.0m | $2.5m |
| Q2 2024 | 0 | — | 5 | $19.4m | $2.2m |
| Q3 2024 | 0 | — | 4 | $18.0m | $1.6m |
| Q4 2024 | 0 | — | 3 | $2.0m | $1.7m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-12-06 | Banse Amy Director | Sold plan | $333.3k606 shares |
| 2024-10-29 | Forusz Jillian SVP & CAO | Sold | $328.0k676 shares |
| 2024-10-25 | Belsky Scott Chief Strategy Officer & EVP | Sold plan | $232.5k481 shares |
| 2024-10-16 | Belsky Scott Chief Strategy Officer & EVP | Sold plan | $356.0k703 shares |
| 2024-10-15 | Belsky Scott Chief Strategy Officer & EVP | Sold plan | $786.1k1.5k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.32% of their portfolio | 41.0m $18.2bn | Added +9.3k |
| BlackRock, Inc. 0.37% of their portfolio | 40.5m $18.0bn | Added +2.1m |
| STATE STREET CORP 0.36% of their portfolio | 20.5m $9.1bn | Added +254.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.37% of their portfolio | 10.7m $4.7bn | Added +151.3k |
| MORGAN STANLEY 0.26% of their portfolio | 8.3m $3.7bn | Added +84.2k |
| FMR LLC 0.20% of their portfolio | 7.7m $3.4bn | Reduced -2.0m |
| NORGES BANK 0.34% of their portfolio | 5.7m $2.6bn | Added +376.3k |
| Bank of New York Mellon Corp 0.47% of their portfolio | 5.7m $2.5bn | Reduced -194.7k |
| PRIMECAP MANAGEMENT CO/CA/ 1.89% of their portfolio | 5.5m $2.4bn | Reduced -193.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.55% of their portfolio | 5.3m $2.4bn | Added +600.1k |
| NORTHERN TRUST CORP 0.33% of their portfolio | 5.3m $2.4bn | Added +672.9k |
| Fisher Asset Management, LLC 0.86% of their portfolio | 4.8m $2.2bn | Reduced -16.1k |
| Invesco Ltd. 0.34% of their portfolio | 4.2m $1.9bn | Reduced -159.0k |
| EDGEWOOD MANAGEMENT LLC 5.18% of their portfolio | 4.1m $1.8bn | Added +696.2k |
| Amundi 0.57% of their portfolio | 3.9m $1.6bn | Reduced -472.0k |
| DEUTSCHE BANK AG\ 0.61% of their portfolio | 3.5m $1.6bn | Added +133.6k |
| GOLDMAN SACHS GROUP INC 0.30% of their portfolio | 3.5m $1.5bn | Reduced -250.9k |
| BANK OF AMERICA CORP /DE/ 0.14% of their portfolio | 3.4m $1.5bn | Reduced -716.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.17% of their portfolio | 3.3m $1.5bn | Reduced -2.9m |
| Legal & General Group Plc 0.39% of their portfolio | 3.3m $1.5bn | Reduced -82.2k |
| POLEN CAPITAL MANAGEMENT LLC 3.62% of their portfolio | 3.0m $1.3bn | Reduced -296.1k |
| BARCLAYS PLC 0.66% of their portfolio | 3.0m $1.3bn | Added +281.3k |
| ROYAL BANK OF CANADA 0.28% of their portfolio | 2.9m $1.3bn | Added +155.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.23% of their portfolio | 2.8m $1.2bn | Added +92.5k |
| JPMORGAN CHASE & CO 0.10% of their portfolio | 2.7m $1.2bn | Reduced -4.7m |
| Aristotle Capital Management, LLC 2.25% of their portfolio | 2.6m $1.2bn | Reduced -52.2k |
| AMERIPRISE FINANCIAL INC 0.30% of their portfolio | 2.6m $1.2bn | Reduced -328.7k |
| UBS Group AG 0.24% of their portfolio | 2.5m $1.1bn | Added +201.8k |
| Capital Research Global Investors 0.22% of their portfolio | 2.4m $1.1bn | Reduced -89.9k |
| FRANKLIN RESOURCES INC 0.26% of their portfolio | 2.1m $939.9m | Reduced -310.3k |
| ALLIANCEBERNSTEIN L.P. 0.32% of their portfolio | 2.1m $938.0m | Reduced -832.0k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.75% of their portfolio | 2.1m $937.3m | Added +952.2k |
| HSBC HOLDINGS PLC 0.56% of their portfolio | 2.0m $910.3m | Added +327.6k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.86% of their portfolio | 2.0m $900.1m | Reduced -152.4k |
| DIMENSIONAL FUND ADVISORS LP 0.20% of their portfolio | 1.9m $848.2m | Reduced -21.4k |
| JENNISON ASSOCIATES LLC 0.50% of their portfolio | 1.9m $828.1m | Reduced -593.5k |
| COATUE MANAGEMENT LLC 2.64% of their portfolio | 1.8m $784.3m | Added +79.5k |
| NORDEA INVESTMENT MANAGEMENT AB 0.80% of their portfolio | 1.7m $765.1m | Added +33.4k |
| Nuveen Asset Management, LLC 0.21% of their portfolio | 1.7m $737.7m | Reduced -52.6k |
| Sumitomo Mitsui Trust Group, Inc. 0.42% of their portfolio | 1.4m $616.5m | Added +72.2k |
| Clearbridge Investments, LLC 0.47% of their portfolio | 1.3m $584.6m | Reduced -637.3k |
| FIL Ltd 0.54% of their portfolio | 1.3m $573.0m | Added +730.5k |
| WELLS FARGO & COMPANY/MN 0.14% of their portfolio | 1.3m $570.7m | Reduced -60.5k |
| Vontobel Holding Ltd. 1.94% of their portfolio | 1.3m $567.1m | Added +8.9k |
| Swiss National Bank 0.37% of their portfolio | 1.2m $553.0m | Reduced -72.5k |
| VIKING GLOBAL INVESTORS LP 1.78% of their portfolio | 1.2m $549.0m | Reduced -1.4m |
| BROWN ADVISORY INC 0.69% of their portfolio | 1.2m $543.1m | Reduced -57.6k |
| Assenagon Asset Management S.A. 0.93% of their portfolio | 1.2m $519.6m | Added +348.6k |
| MARSHALL WACE, LLP 0.64% of their portfolio | 1.1m $508.0m | Added +96.7k |
| Longview Partners (Guernsey) LTD 3.79% of their portfolio | 1.1m $507.7m | Reduced -49.2k |
| BlueSpruce Investments, LP 10.23% of their portfolio | 1.1m $503.3m | Added +292.4k |
| BANK OF MONTREAL /CAN/ 0.24% of their portfolio | 1.1m $483.8m | Reduced -300.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.42% of their portfolio | 1.1m $478.5m | Added +745.8k |
| WELLINGTON MANAGEMENT GROUP LLP 0.09% of their portfolio | 1.1m $477.8m | Reduced -1.4m |
| BNP PARIBAS FINANCIAL MARKETS 0.37% of their portfolio | 1.1m $473.1m | Added +163.8k |
| LAZARD ASSET MANAGEMENT LLC 0.68% of their portfolio | 1.0m $466.0m | Reduced -99.8k |
| Allianz Asset Management GmbH 0.65% of their portfolio | 1.0m $448.6m | Reduced -34.5k |
| California Public Employees Retirement System 0.29% of their portfolio | 986.6k $438.7m | Added +26.4k |
| CIBC Private Wealth Group LLC 0.68% of their portfolio | 900.3k $377.7m | Reduced -17.1k |
| TWO SIGMA ADVISERS, LP 0.91% of their portfolio | 889.0k $395.3m | Added +830.3k |
| National Pension Service 0.37% of their portfolio | 877.0k $390.0m | Reduced -1.8k |
| VAN ECK ASSOCIATES CORP 0.49% of their portfolio | 869.3k $386.6m | Reduced -14.7k |
| RHUMBLINE ADVISERS 0.34% of their portfolio | 858.3k $381.7m | Reduced -14.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.12% of their portfolio | 846.0k $376.2m | Reduced -21.6k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.73% of their portfolio | 822.5k $365.7m | First filing |
| Alyeska Investment Group, L.P. 1.37% of their portfolio | 817.6k $363.5m | Added +137.6k |
| Bank Julius Baer & Co. Ltd, Zurich 1.20% of their portfolio | 817.1k $389.9m | Added +69.6k |
| Swedbank AB 0.45% of their portfolio | 816.2k $363.0m | Reduced -380.0k |
| DekaBank Deutsche Girozentrale 0.64% of their portfolio | 778.6k $346.3m | Unchanged |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.83% of their portfolio | 756.8k $336.6m | Reduced -72.1k |
| AQR CAPITAL MANAGEMENT LLC 0.43% of their portfolio | 752.7k $334.7m | Added +321.0k |
| Point72 Asset Management, L.P. 0.91% of their portfolio | 749.0k $333.1m | Added +482.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.30% of their portfolio | 729.5k $314.1m | Added +53.3k |
| STIFEL FINANCIAL CORP 0.34% of their portfolio | 729.3k $324.3m | Reduced -33.2k |
| WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST 3.87% of their portfolio | 720.0k $320.2m | Unchanged |
| CITIGROUP INC 0.30% of their portfolio | 710.1k $315.8m | Reduced -117.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.17% of their portfolio | 689.7k $306.7m | Reduced -1.1m |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.36% of their portfolio | 688.5k $306.2m | Reduced -24.2k |
| MONTRUSCO BOLTON INVESTMENTS INC. 3.50% of their portfolio | 668.5k $288.8m | Reduced -127.0k |
| C WorldWide Group Holding A/S 3.56% of their portfolio | 655.5k $291.5m | Reduced -55.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.42% of their portfolio | 628.4k $279.4m | Added +116.3k |
| Fayez Sarofim & Co 0.68% of their portfolio | 622.5k $279.8m | Added +49.2k |
| BLAIR WILLIAM & CO/IL 0.80% of their portfolio | 621.3k $276.3m | Reduced -30.0k |
| Aberdeen Group plc 0.52% of their portfolio | 619.8k $276.1m | Reduced -48.0k |
| Cantillon Capital Management LLC 1.65% of their portfolio | 614.9k $273.4m | Added +95.2k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.36% of their portfolio | 604.8k $268.9m | Reduced -300 |
| ProShare Advisors LLC 0.60% of their portfolio | 591.7k $263.1m | Added +93.8k |
| LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA 2.22% of their portfolio | 587.2k $257.5m | Added +2.5k |
| Rathbones Group PLC 1.26% of their portfolio | 587.2k $261.1m | Added +46.4k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.60% of their portfolio | 556.3k $247.4m | Reduced -16.4k |
| RAYMOND JAMES FINANCIAL INC 0.09% of their portfolio | 548.3k $243.8m | First filing |
| BROWN BROTHERS HARRIMAN & CO 1.69% of their portfolio | 541.3k $240.7m | Reduced -19.0k |
| D. E. Shaw & Co., Inc. 0.26% of their portfolio | 540.5k $240.3m | Added +166.2k |
| KING LUTHER CAPITAL MANAGEMENT CORP 1.02% of their portfolio | 531.5k $236.3m | Reduced -58.2k |
| NATIONAL BANK OF CANADA /FI/ 0.30% of their portfolio | 529.7k $235.6m | Added +133.4k |
| Russell Investments Group, Ltd. 0.32% of their portfolio | 525.9k $233.9m | Added +13.6k |
| VICTORY CAPITAL MANAGEMENT INC 0.23% of their portfolio | 522.9k $232.5m | Added +57.6k |
| TD Asset Management Inc 0.20% of their portfolio | 514.6k $228.8m | Reduced -16.6k |
| Ensign Peak Advisors, Inc 0.39% of their portfolio | 498.5k $221.7m | Reduced -13.6k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.39% of their portfolio | 496.6k $220.8m | Added +36.6k |