In a recent 13F filing with the SEC, Robert Olstein's firm, Olstein Capital Management, revealed it has liquidated its entire stake in Adobe Inc. (ADBE). The disclosure, which reflects holdings as of June 30, 2026, shows the sale of all 25,000 shares previously held. It is important to remember that these filings are submitted quarterly and represent a snapshot of the portfolio at the end of the period, so the trades could have occurred at any point during the second quarter.
During that quarter, Adobe reported record revenue and raised its fiscal year guidance. However, the company also announced the departure of its CFO, which was followed by a drop in its stock price despite the strong financial results. Olstein's exit from the roughly $6 million position comes amid a period of leadership transition and broader market questions about the impact of AI on software companies.