Here’s Columbia Seligman Global Technology Fund’s Comment on Adobe (ADBE)

Core Insights - Columbia Threadneedle Investments reported a strong rebound in US equities during Q2 2025, with the Columbia Seligman Global Technology Fund's Institutional Class shares returning 19.52%, compared to a 23.18% return for the MSCI World Information Technology Index-Net [1] Company Analysis: Adobe Inc. (NASDAQ:ADBE) - Adobe Inc. operates in Digital Media, Digital Experience, and Publishing and Advertising sectors, but its stock experienced a one-month return of -0.19% and a 52-week decline of 31.45%, closing at $353.27 with a market capitalization of $149.857 billion on September 24, 2025 [2] - The Columbia Seligman Global Technology Fund did not hold a position in Adobe, which positively impacted its performance relative to the benchmark, as Adobe's stock price remained relatively flat during the quarter [3] - Concerns have been raised regarding Adobe's pricing power and growth outlook due to competition from generative AI tools like Sora and Midjourney [3] - In Q3 2025, Adobe reported record revenue of $5.99 billion, reflecting a 10% year-over-year growth, but the company is not among the 30 most popular stocks among hedge funds, with 104 hedge fund portfolios holding its stock at the end of Q2, down from 111 in the previous quarter [4]