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 ($421.0m this quarter). Holder counts are more reliable. Shares outstanding: 418.6m as of 2025-09-19, 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 ≈ $352.68. Options: 65 managers hold calls ($5.7bn notional), 72 hold puts ($6.7bn).
Trends to Q3 2025
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 |
| Q1 2025 | 2,709 |
| Q2 2025 | 2,693 |
| Q3 2025 | 2,496 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q1 2025 | 1,304 | 1,391 |
| Q2 2025 | 1,217 | 1,359 |
| Q3 2025 | 1,052 | 1,435 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $5.2bn | $7.6bn | 1.46 |
| Q1 2025 | $4.3bn | $5.7bn | 1.32 |
| Q2 2025 | $4.3bn | $5.4bn | 1.26 |
| Q3 2025 | $5.7bn | $6.7bn | 1.19 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +2.4m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +2.0m |
| D. E. Shaw & Co., Inc. | Added | +1.8m |
| Dodge & Cox | Added | +1.6m |
| AQR CAPITAL MANAGEMENT LLC | Added | +920.4k |
| Amundi | Added | +742.6k |
| VICTORY CAPITAL MANAGEMENT INC | Added | +710.4k |
| FEDERATED HERMES, INC. | Added | +583.3k |
| Bridgewater Associates, LP | Added | +533.2k |
| Invesco Ltd. | Added | +414.5k |
Biggest sellers
| ROYAL BANK OF CANADA | Reduced | -3.4m |
| Capital World Investors | Reduced | -1.8m |
| POLEN CAPITAL MANAGEMENT LLC | Reduced | -1.5m |
| Assenagon Asset Management S.A. | Reduced | -1.2m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -1.0m |
| GOLDMAN SACHS GROUP INC | Reduced | -963.5k |
| FMR LLC | Reduced | -871.1k |
| C WorldWide Group Holding A/S | Sold out | -546.5k |
| BARCLAYS PLC | Reduced | -525.7k |
| ALLIANCEBERNSTEIN L.P. | Reduced | -506.7k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.5bn4.1m shares |
| CITADEL ADVISORS LLC | Added | $856.9m2.4m shares |
| IMC-Chicago, LLC | Added | $585.0m1.7m shares |
| JANE STREET GROUP, LLC | Added | $401.5m1.1m shares |
| TUDOR INVESTMENT CORP ET AL | Added | $228.2m646.8k shares |
| WOLVERINE TRADING, LLC | Added | $218.6m608.2k shares |
| SIMPLEX TRADING, LLC | Added | $174.3m494.2k shares |
| Qube Research & Technologies Ltd | Added | $150.0m425.3k shares |
| BANK OF AMERICA CORP /DE/ | Added | $134.5m381.2k shares |
| JPMORGAN CHASE & CO | Added | $118.7m336.4k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.6bn4.4m shares |
| CITADEL ADVISORS LLC | Added | $819.7m2.3m shares |
| IMC-Chicago, LLC | Added | $500.7m1.4m shares |
| CMT Capital Markets Trading GmbH | Added | $484.1m1.4m shares |
| JANE STREET GROUP, LLC | Added | $348.0m986.5k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $293.8m833.0k shares |
| D. E. Shaw & Co., Inc. | Added | $215.7m611.6k shares |
| Qube Research & Technologies Ltd | Reduced | $209.3m593.4k shares |
| PEAK6 LLC | Reduced | $172.6m489.2k shares |
| MARSHALL WACE, LLP | Added | $161.1m456.8k 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 Q3 2025
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 |
|---|---|---|---|---|---|
| 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 |
| Q1 2025 | 2 | $1.5m | 2 | $2.2m | $2.0m |
| Q2 2025 | 0 | — | 1 | $175.8k | — |
| Q3 2025 | 0 | — | 0 | — | — |
None reported in Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.22% of their portfolio | 41.4m $14.6bn | Added +344.8k |
| BlackRock, Inc. 0.25% of their portfolio | 40.5m $14.3bn | Added +382.0k |
| STATE STREET CORP 0.25% of their portfolio | 20.6m $7.3bn | Added +352.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.25% of their portfolio | 11.1m $3.9bn | Added +32.8k |
| MORGAN STANLEY 0.15% of their portfolio | 6.9m $2.4bn | Reduced -490.6k |
| Bank of New York Mellon Corp 0.37% of their portfolio | 5.9m $2.1bn | Reduced -395.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 1.25% of their portfolio | 5.6m $2.0bn | Added +2.0m |
| JPMORGAN CHASE & CO 0.06% of their portfolio | 5.5m $1.9bn | Added +2.4m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.40% of their portfolio | 5.2m $1.8bn | Reduced -1.0m |
| NORTHERN TRUST CORP 0.23% of their portfolio | 5.0m $1.8bn | Reduced -94.2k |
| Amundi 0.55% of their portfolio | 4.9m $1.7bn | Added +742.6k |
| Invesco Ltd. 0.27% of their portfolio | 4.8m $1.7bn | Added +414.5k |
| Fisher Asset Management, LLC 0.54% of their portfolio | 4.2m $1.5bn | Reduced -333.3k |
| PRIMECAP MANAGEMENT CO/CA/ 1.04% of their portfolio | 3.9m $1.4bn | Reduced -300.0k |
| DEUTSCHE BANK AG\ 0.46% of their portfolio | 3.8m $1.4bn | Added +121.7k |
| FMR LLC 0.07% of their portfolio | 3.7m $1.3bn | Reduced -871.1k |
| BANK OF AMERICA CORP /DE/ 0.09% of their portfolio | 3.4m $1.2bn | Reduced -87.1k |
| Legal & General Group Plc 0.25% of their portfolio | 3.1m $1.1bn | Added +48.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.17% of their portfolio | 3.1m $1.1bn | Added +127.7k |
| Capital World Investors 0.14% of their portfolio | 3.0m $1.0bn | Reduced -1.8m |
| GOLDMAN SACHS GROUP INC 0.15% of their portfolio | 3.0m $1.0bn | Reduced -963.5k |
| ROYAL BANK OF CANADA 0.17% of their portfolio | 2.8m $971.3m | Reduced -3.4m |
| AQR CAPITAL MANAGEMENT LLC 0.59% of their portfolio | 2.6m $912.7m | Added +920.4k |
| FIL Ltd 0.70% of their portfolio | 2.5m $888.8m | Reduced -51.0k |
| Aristotle Capital Management, LLC 1.65% of their portfolio | 2.4m $852.8m | Reduced -119.7k |
| BARCLAYS PLC 0.31% of their portfolio | 2.4m $851.3m | Reduced -525.7k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.65% of their portfolio | 2.4m $833.8m | Added +225.9k |
| AMERIPRISE FINANCIAL INC 0.19% of their portfolio | 2.4m $833.6m | Added +212.2k |
| D. E. Shaw & Co., Inc. 0.65% of their portfolio | 2.3m $800.6m | Added +1.8m |
| FRANKLIN RESOURCES INC 0.18% of their portfolio | 2.1m $725.4m | Added +117.4k |
| UBS Group AG 0.14% of their portfolio | 2.0m $720.7m | Reduced -374.1k |
| Assenagon Asset Management S.A. 1.02% of their portfolio | 2.0m $688.8m | Reduced -1.2m |
| DIMENSIONAL FUND ADVISORS LP 0.14% of their portfolio | 1.9m $665.7m | Reduced -6.7k |
| POLEN CAPITAL MANAGEMENT LLC 2.13% of their portfolio | 1.9m $655.1m | Reduced -1.5m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.49% of their portfolio | 1.7m $596.0m | Reduced -39.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.45% of their portfolio | 1.6m $571.0m | Added +382.6k |
| TWO SIGMA ADVISERS, LP 1.14% of their portfolio | 1.6m $568.9m | Added +142.5k |
| HSBC HOLDINGS PLC 0.33% of their portfolio | 1.6m $565.7m | Added +63.0k |
| Dodge & Cox 0.30% of their portfolio | 1.6m $562.1m | Added +1.6m |
| Nuveen, LLC 0.14% of their portfolio | 1.5m $544.2m | Reduced -68.2k |
| NORDEA INVESTMENT MANAGEMENT AB 0.44% of their portfolio | 1.4m $500.7m | Reduced -396.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.05% of their portfolio | 1.4m $486.5m | Reduced -333.8k |
| Sumitomo Mitsui Trust Group, Inc. 0.28% of their portfolio | 1.4m $486.5m | Reduced -20.0k |
| WELLS FARGO & COMPANY/MN 0.10% of their portfolio | 1.4m $481.8m | Added +139.4k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.34% of their portfolio | 1.4m $479.3m | Added +209.0k |
| VICTORY CAPITAL MANAGEMENT INC 0.27% of their portfolio | 1.3m $469.5m | Added +710.4k |
| Bridgewater Associates, LP 1.74% of their portfolio | 1.3m $445.4m | Added +533.2k |
| Swiss National Bank 0.25% of their portfolio | 1.2m $431.3m | Reduced -67.4k |
| Longview Partners (Guernsey) LTD 4.37% of their portfolio | 1.2m $418.6m | Added +166.2k |
| Man Group plc 0.80% of their portfolio | 1.2m $415.4m | Added +303.1k |
| Pacer Advisors, Inc. 1.06% of their portfolio | 1.2m $412.7m | Added +104.2k |
| ACADIAN ASSET MANAGEMENT LLC 0.69% of their portfolio | 1.1m $396.7m | Added +50.7k |
| Qube Research & Technologies Ltd 0.55% of their portfolio | 1.1m $388.2m | Reduced -259.3k |
| Diamond Hill Capital Management, LLC (Investment Advisor) 1.72% of their portfolio | 1.0m $361.4m | Added +174.9k |
| VAN ECK ASSOCIATES CORP 0.33% of their portfolio | 1.0m $355.7m | Added +100.1k |
| Cantillon Capital Management LLC 1.94% of their portfolio | 1.0m $352.9m | Added +143.7k |
| California Public Employees Retirement System 0.21% of their portfolio | 985.0k $347.4m | Added +246.5k |
| RENAISSANCE TECHNOLOGIES LLC 0.45% of their portfolio | 956.7k $337.5m | Added +410.0k |
| National Pension Service 0.26% of their portfolio | 951.7k $335.7m | Added +26.3k |
| BANK OF MONTREAL /CAN/ 0.14% of their portfolio | 919.7k $324.4m | Reduced -122.9k |
| Capital Research Global Investors 0.06% of their portfolio | 899.1k $317.2m | Reduced -391.2k |
| FEDERATED HERMES, INC. 0.56% of their portfolio | 898.4k $316.9m | Added +583.3k |
| Russell Investments Group, Ltd. 0.36% of their portfolio | 892.1k $315.4m | Added +146.8k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 1.24% of their portfolio | 881.8k $311.1m | Added +53.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.22% of their portfolio | 878.6k $309.9m | Added +27.9k |
| Vontobel Holding Ltd. 0.96% of their portfolio | 869.0k $306.6m | Added +74.1k |
| ALLIANCEBERNSTEIN L.P. 0.09% of their portfolio | 850.4k $300.0m | Reduced -506.7k |
| RHUMBLINE ADVISERS 0.23% of their portfolio | 811.8k $286.4m | Reduced -10.1k |
| CITIGROUP INC 0.20% of their portfolio | 806.0k $284.3m | Reduced -249.4k |
| Swedbank AB 0.28% of their portfolio | 787.6k $277.8m | Reduced -22.4k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.46% of their portfolio | 785.8k $277.2m | Reduced -31.5k |
| DekaBank Deutsche Girozentrale 0.47% of their portfolio | 778.6k $280.6m | Unchanged |
| LAZARD ASSET MANAGEMENT LLC 0.37% of their portfolio | 773.0k $272.7m | Added +23.9k |
| Caisse de depot et placement du Quebec 0.49% of their portfolio | 772.7k $272.6m | Added +174.2k |
| Robeco Institutional Asset Management B.V. 0.39% of their portfolio | 772.0k $272.3m | Added +288.0k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.70% of their portfolio | 770.8k $271.5m | Added +110.2k |
| WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST 2.88% of their portfolio | 750.0k $264.6m | Unchanged |
| STIFEL FINANCIAL CORP 0.24% of their portfolio | 730.0k $257.5m | Added +13.2k |
| TWO SIGMA INVESTMENTS, LP 0.38% of their portfolio | 702.3k $247.7m | Added +33.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.24% of their portfolio | 665.4k $234.7m | Reduced -3.9k |
| Bank Julius Baer & Co. Ltd, Zurich 0.66% of their portfolio | 659.0k $232.5m | Added +11.1k |
| FIRST TRUST ADVISORS LP 0.17% of their portfolio | 650.5k $229.5m | Added +30.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.04% of their portfolio | 632.9k $223.3m | Reduced -288.5k |
| BANK OF NOVA SCOTIA 0.39% of their portfolio | 632.7k $223.2m | Added +149.0k |
| Skandinaviska Enskilda Banken AB (publ) 0.88% of their portfolio | 622.8k $219.7m | Added +276.4k |
| PRUDENTIAL FINANCIAL INC 0.26% of their portfolio | 619.2k $218.4m | Added +261.0k |
| Allianz Asset Management GmbH 0.27% of their portfolio | 613.7k $216.5m | Reduced -197.0k |
| COATUE MANAGEMENT LLC 0.53% of their portfolio | 610.6k $215.4m | Unchanged |
| CIBC Private Wealth Group LLC 0.37% of their portfolio | 605.6k $213.6m | Reduced -269.6k |
| ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio | 598.7k $211.2m | Reduced -161.5k |
| Pictet Asset Management Holding SA 0.20% of their portfolio | 597.1k $210.6m | Added +166.4k |
| Heard Capital LLC 5.35% of their portfolio | 592.7k $209.1m | Added +135.4k |
| NorthCoast Asset Management LLC 0.81% of their portfolio | 591.0k $208.5m | Added +24.5k |
| ProShare Advisors LLC 0.41% of their portfolio | 556.1k $196.2m | Reduced -122.1k |
| CANADA LIFE ASSURANCE Co 0.28% of their portfolio | 554.5k $199.1m | Added +16.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.10% of their portfolio | 550.8k $194.3m | Reduced -51.5k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.31% of their portfolio | 546.2k $192.8m | Added +37.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.28% of their portfolio | 545.6k $192.5m | Reduced -313.9k |
| BROWN BROTHERS HARRIMAN & CO 1.16% of their portfolio | 542.1k $191.2m | Reduced -9.7k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.25% of their portfolio | 537.7k $189.7m | Reduced -29.0k |