Decision Timeline

ADBE, decision by decision.

Not just who owns it now. This is the sequence of material choices managers reported, when each choice became visible, and the observed result after disclosure.

Material decisions: 30
Buy / add: 16
Trim / exit: 14

The cohort disagreed in Q2 2026.

At least one tracked manager bought or added while another trimmed or exited. The disagreement is the signal; it is not collapsed into a consensus score.

Eight-quarter evidence

7 reported quarters

Q2 2026
filed Sep 2, 2026
64d lag
ADD+248.6%
Joel Greenblatt · 0.1% of reported portfolio
Original SEC filing ↗
-16.6% vs SPY
21 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 14, 2026
45d lag
ADD+23.3%
Bill Nygren · 0.8% of reported portfolio
Original SEC filing ↗
-6.3% vs SPY
34 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 13, 2026
44d lag
ADD+21.5%
Samantha McLemore · 2.5% of reported portfolio
Original SEC filing ↗
-9.4% vs SPY
35 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 13, 2026
44d lag
ADD+24.8%
Dodge & Cox Funds · 0.3% of reported portfolio
Original SEC filing ↗
-9.4% vs SPY
35 sessions after disclosure
direction not supported so far
Q2 2026
filed Jul 29, 2026
29d lag
EXITEXIT
William Von Mueffling · 1.6% of reported portfolio
Original SEC filing ↗
-8.1% vs SPY
46 sessions after disclosure
direction supported so far
Q2 2026
filed Jul 7, 2026
7d lag
EXITEXIT
Robert Olstein · 1.3% of reported portfolio
Original SEC filing ↗
+4.1% vs SPY
62 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
ADD+122.9%
Hillman Capital Management · 2.7% of reported portfolio
Original SEC filing ↗
-5.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
NEWNEW
Bill Nygren · 0.7% of reported portfolio
Original SEC filing ↗
-5.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
TRIM-59.2%
Joel Greenblatt · 0.1% of reported portfolio
Original SEC filing ↗
-5.5% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 14, 2026
44d lag
NEWNEW
Samantha McLemore · 2.7% of reported portfolio
Original SEC filing ↗
+1.3% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 14, 2026
44d lag
TRIM-99.1%
Polen Capital Management · 2.0% of reported portfolio
Original SEC filing ↗
+1.3% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 1, 2026
31d lag
EXITEXIT
Torray Funds · 0.7% of reported portfolio
Original SEC filing ↗
-6.8% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed Apr 21, 2026
21d lag
ADD+56.3%
Robert Olstein · 1.3% of reported portfolio
Original SEC filing ↗
-20.0% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed Feb 17, 2026
323d lag
ADD+29.6%
William Von Mueffling · 2.0% of reported portfolio
Original SEC filing ↗
-10.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2025
filed Feb 17, 2026
48d lag
ADD+83.3%
Joel Greenblatt · 0.1% of reported portfolio
Original SEC filing ↗
-10.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2025
filed Feb 13, 2026
44d lag
ADD+35.8%
Dodge & Cox Funds · 0.4% of reported portfolio
Original SEC filing ↗
-13.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2025
filed Feb 12, 2026
43d lag
TRIM-27.6%
Polen Capital Management · 2.1% of reported portfolio
Original SEC filing ↗
-20.3% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 13, 2025
44d lag
ADD+8006.6%
Dodge & Cox Funds · 0.3% of reported portfolio
Original SEC filing ↗
-23.3% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2025
filed Nov 12, 2025
43d lag
TRIM-44.7%
Polen Capital Management · 4.0% of reported portfolio
Original SEC filing ↗
-22.6% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Oct 21, 2025
21d lag
ADD+52.5%
Robert Olstein · 1.0% of reported portfolio
Original SEC filing ↗
-18.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 15, 2025
45d lag
EXITEXIT
Viking Global Investors · 1.8% of reported portfolio
Original SEC filing ↗
-23.5% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 9, 2025
39d lag
ADD+106.3%
Wallace Weitz · 1.7% of reported portfolio
Original SEC filing ↗
-25.1% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 8, 2025
38d lag
ADD+28.6%
Torray Funds · 1.0% of reported portfolio
Original SEC filing ↗
-24.3% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2024
filed Feb 14, 2025
45d lag
TRIM-52.9%
Viking Global Investors · 4.9% of reported portfolio
Original SEC filing ↗
-7.6% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2024
filed Feb 14, 2025
45d lag
EXITEXIT
Stanley Druckenmiller · 0.6% of reported portfolio
Original SEC filing ↗
-7.6% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2024
filed Feb 14, 2025
45d lag
TRIM-63.2%
Joel Greenblatt · 0.4% of reported portfolio
Original SEC filing ↗
-7.6% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2024
filed Feb 10, 2025
133d lag
ADD+24.3%
Polen Capital Management · 4.4% of reported portfolio
Original SEC filing ↗
-10.3% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2024
filed Feb 10, 2025
41d lag
EXITEXIT
David Tepper · 1.5% of reported portfolio
Original SEC filing ↗
-10.3% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2024
filed Nov 14, 2024
45d lag
TRIM-44.4%
David Tepper · 3.2% of reported portfolio
Original SEC filing ↗
-14.2% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2024
filed Nov 14, 2024
45d lag
TRIM-29.3%
Hillman Capital Management · 2.7% of reported portfolio
Original SEC filing ↗
-14.2% vs SPY
63 sessions after disclosure
direction supported so far

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Material means a new or exited position, or at least a 20% share-count change, with at least 0.5% portfolio weight or $100 million reported value. Share counts are adjusted for confirmed splits. Outcomes start after disclosure, not at an invented trade date, and are not manager returns.