Polaris Capital Management, LLC — Global Equity Composite on Adobe Inc.
Thesis
Polaris added Adobe after the shares fell well below their 2021 peak. The fund highlights the stickiness of Adobe's professional user base and the positive reception of Firefly integration within Photoshop and Illustrator. The thesis is that Adobe's entrenched creative ecosystem and its integration of generative AI can preserve the value of the franchise despite the market's broader concerns around software disruption.
“We added Adobe Inc., trading well below its 2021 peak.”