$ADBE (Adobe)Adobe Inc.BATS:ADBEbrad.merkelArrowstreet Capital loading up on ADBE — ~5.62M shares valued at ~$1.98B (per Sept 30, 2025 filing, slight increase). Tepper-esque bet on this AI/software leader at $262.41 after pullback. Merkapital: Confidence™ 75 (top 35%) ✓ High ConvictionP(Up 1Y): 71% • Exp Return: +15.6% Risk/Reward ~3.7x (+59% upside / -16% downside) Top: PEG 0.74, fwd P/E 11.1, ROE 55.4%. Momentum lagged (-16% 3-1m) but AI edge strong. ADBE Institutional conviction real? Allocated? Drop your top tech name. https://merkapitalresearch.com/