What smart money is saying about Adobe
8 funds in our archive have pitched Adobe — most recently Harding Loevner Global Equity in June 2026.
Adobe Inc. stands as a prominent global software provider, delivering a diverse range of solutions. Its operations are structured into three primary business divisions: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment empowers individuals, teams, and enterprises to generate, disseminate, and amplify various forms of content through its array of products and services, including the cloud-native Document Cloud platform. Central to this segment is Creative Cloud, its subscription-based flagship, granting access to a comprehensive suite of creative tools. This division caters to a diverse range of users, from professional content creators and marketers to educators, communicators, and general consumers. Adobe's Digital Experience division offers an integrated suite of applications and services designed to empower brands and businesses to craft, orchestrate, assess, and enhance customer journeys, from initial analytical insights to final commercial transactions. It serves a broad professional base including marketing teams, advertisers, agencies, data scientists, and senior executives. The Publishing and Advertising segment provides specialized offerings such as e-learning tools, technical documentation services, web conferencing solutions, advanced printing technologies, and its Advertising Cloud suite. Adobe engages directly with enterprise clients through its dedicated sales teams and regional offices. Individual end-users can access its offerings via app stores or its official website, adobe.com. Additionally, an extensive indirect channel supports distribution, encompassing partners such as distributors, value-added resellers, system integrators, software vendors, retailers, and original equipment manufacturers. Established in 1982, the company, initially named Adobe Systems Incorporated, rebranded as Adobe Inc. in October 2018. Its corporate headquarters are situated in San Jose, California.
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Position history
Between Q2 2025 and Q3 2026, 9 fund letters reported a position in Adobe — 3 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 1 | 0 |
| Q2 2026 | 5 | 0 | 2 | 1 |
| Q1 2026 | 3 | 0 | 0 | 3 |
| Q4 2025 | 0 | 0 | 0 | 1 |
| Q3 2025 | 0 | 0 | 0 | 2 |
| Q2 2025 | 0 | 0 | 0 | 1 |
Fund activity · 9 positions · 3 moves
- ExitedGuinness Global Innovators FundJuly 2026
“In light of these ongoing headwinds and the lack of clarity over how Adobe might have to adapt their model in the future, we saw better opportunities elsewhere and decided to exit the position.”
Read the letterAdobe - HoldsHarding Loevner Global EquityJune 2026
“The ones we own—including Adobe, Microsoft, and SAP—provide critical services that would be costly and disruptive for customers to replace, and they are likely to retain far more of their long-term value than current valuations imply.”
Read the letterAdobe - ExitedGuinness Global Innovators FundJune 2026
“We sold our position in Adobe and, as part of our one-in-one-out process, replaced it with a new position in AMD.”
Read the letterAdobe - HoldsHarding Loevner Global Developed Markets EquityJune 2026
“The ones we own—including Adobe, Microsoft, and SAP—provide critical services that would be costly and disruptive for customers to replace, and they are likely to retain far more of their long-term value than current valuations imply.”
Read the letterAdobe - HoldsHarding Loevner Global Equity ADRJune 2026
“The ones we own—including Adobe, Microsoft, and SAP—provide critical services that would be costly and disruptive for customers to replace, and they are likely to retain far more of their long-term value than current valuations imply.”
Read the letterAdobe - ExitedEmerald Wealth Partners AGMay 2026
“Exit/Reduction Adobe Exit position”
Read the letterAdobe - HoldsHardman Johnston Select EquityMarch 2026
“Finally, Adobe Inc. continues to lag based on fears of AI disruption.”
Read the letterAdobe - HoldsHardman Johnston Large Cap EquityMarch 2026
“I nformat ion Technology 21.5 Adobe Inc. United States 1.0 Software”
Read the letterAdobe - HoldsHL Global Carbon Transition EquityMarch 2026
Listed in HL Global Carbon Transition Equity’s reported holdings.
Read the letterAdobe
Also mentioned · 4
These funds discuss Adobe — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedArtisan Partners Select Equity StrategyJune 2026
“Below is an example of some of the most common names we have seen circulating on these lists:”
Read the letterAdobe - MentionedArtisan Partners Global Value FundJune 2026
“We have also passed on many other businesses, such as Adobe, Salesforce, Wolters Kluwer and FactSet.”
Read the letterAdobe - MentionedHL Global Developed Markets EquityMay 2026
Named in a table in HL Global Developed Markets Equity’s letter.
Read the letterAdobe - MentionedBrown Advisory Global LeadersMarch 2026
“Combined with two exits in 2025 (Wolters Kluwer (WTKWY) and Adobe (ADBE)),”
Read the letterAdobe
Fund coverage · 8 theses
- Harding Loevner Global EquityJune 2026
Adobe provides critical software that is costly to replace, and the manager believes the market is overstating AI’s long-term disruption risk.
Read the full thesis - Harris Associates U.S. Large Value StrategyMarch 2026
Adobe has durable competitive advantages, a sound AI strategy, and attractive valuation after multiple compression.
Read the full thesis - Patient Capital ManagementMarch 2026
Adobe Inc. is a leading creative software company with high free cash flow yield, strategic responses to competition, ongoing growth, and buybacks supporting attractive upside.
Read the full thesis - Oakmark Equity and Income FundMarch 2026
Adobe Inc. is a leading cloud software company with entrenched products, a sound AI strategy, and a discounted valuation.
Read the full thesis - Guinness Global InnovatorsDecember 2025
Adobe Systems Inc is a leading creative software provider with growing AI adoption, resilient subscription economics, and an attractive valuation despite near-term monetization skepticism.
Read the full thesis - Schafer Cullen ESG Value Equity StrategySeptember 2025
Adobe is a competitive leader in digital content creation and customer experience software, poised for long-term growth through innovative AI integrations and attractive valuations relative to peers.
Read the full thesis - Diamond Hill Select FundSeptember 2025
Adobe is the leading provider of creative content software with a strong market position, diverse offerings, and the potential for solid fundamentals despite competition and AI disruption.
Read the full thesis - Harding LoevnerJune 2025
Adobe is strategically positioned to thrive as a vital editing layer in the surge of AI-generated visual content, demonstrating strong financial performance and an expanding user base despite short-term market concerns.
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