ADOBE INC

Ticker: ADBE CUSIP: 00724F101 Class: COM

Narwhal Capital Management's Holding History (CIK: 0001461287)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 12,840 Value ($000) $4,494 Avg Close $340.09 Range $311.59 - $363.70

Q3 2025

Shares 8,934 Value ($000) $3,151 Avg Close $358.75 Range $330.04 - $392.58

Q2 2025

Shares 5,009 Value ($000) $1,938 Avg Close $385.32 Range $332.01 - $422.95

Q1 2025

Shares 7,100 Value ($000) $2,723 Avg Close $428.84 Range $374.50 - $465.70

Q4 2024

Shares 7,436 Value ($000) $3,307 Avg Close $495.13 Range $432.47 - $557.90

Q3 2024

Shares 9,248 Value ($000) $4,788 Avg Close $548.46 Range $500.00 - $587.75

Q2 2024

Shares 12,892 Value ($000) $7,162 Avg Close $484.22 Range $433.97 - $558.48

Q1 2024

Shares 17,459 Value ($000) $8,810 Avg Close $573.19 Range $485.00 - $638.25

Q4 2023

Shares 17,686 Value ($000) $10,551 Avg Close $576.76 Range $504.55 - $633.89

Q3 2023

Shares 16,194 Value ($000) $8,257 Avg Close $524.63 Range $475.00 - $570.24

Q2 2023

Shares 16,083 Value ($000) $7,864 Avg Close $402.84 Range $331.89 - $518.74

Q1 2023

Shares 11,372 Value ($000) $4,382 Avg Close $355.42 Range $318.60 - $402.49

Q4 2022

Shares 12,409 Value ($000) $4,176 Avg Close $319.83 Range $276.60 - $355.67

Q3 2022

Shares 19,808 Value ($000) $5,451 Avg Close $378.38 Range $274.73 - $451.15

Q2 2022

Shares 22,830 Value ($000) $8,357 Avg Close $406.98 Range $338.00 - $473.49

Q1 2022

Shares 23,720 Value ($000) $10,807 Avg Close $481.10 Range $407.94 - $575.00

Q4 2021

Shares 20,773 Value ($000) $11,780 Avg Close $625.08 Range $538.05 - $699.54

Q3 2021

Shares 18,293 Value ($000) $10,532 Avg Close $629.41 Range $573.24 - $673.88

Q2 2021

Shares 18,100 Value ($000) $10,600 Avg Close $515.47 Range $468.50 - $592.24

Q1 2021

Shares 18,473 Value ($000) $8,782 Avg Close $467.43 Range $420.78 - $506.51

Q4 2020

Shares 17,450 Value ($000) $8,727 Avg Close $483.11 Range $438.94 - $519.60

Q3 2020

Shares 14,765 Value ($000) $7,241 Avg Close $465.18 Range $416.29 - $536.88

Q2 2020

Shares 15,038 Value ($000) $6,546 Avg Close $370.53 Range $289.71 - $446.15

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	12,840	$4,494	$340.09	$311.59 - $363.70
Q3 2025	8,934	$3,151	$358.75	$330.04 - $392.58
Q2 2025	5,009	$1,938	$385.32	$332.01 - $422.95
Q1 2025	7,100	$2,723	$428.84	$374.50 - $465.70
Q4 2024	7,436	$3,307	$495.13	$432.47 - $557.90
Q3 2024	9,248	$4,788	$548.46	$500.00 - $587.75
Q2 2024	12,892	$7,162	$484.22	$433.97 - $558.48
Q1 2024	17,459	$8,810	$573.19	$485.00 - $638.25
Q4 2023	17,686	$10,551	$576.76	$504.55 - $633.89
Q3 2023	16,194	$8,257	$524.63	$475.00 - $570.24
Q2 2023	16,083	$7,864	$402.84	$331.89 - $518.74
Q1 2023	11,372	$4,382	$355.42	$318.60 - $402.49
Q4 2022	12,409	$4,176	$319.83	$276.60 - $355.67
Q3 2022	19,808	$5,451	$378.38	$274.73 - $451.15
Q2 2022	22,830	$8,357	$406.98	$338.00 - $473.49
Q1 2022	23,720	$10,807	$481.10	$407.94 - $575.00
Q4 2021	20,773	$11,780	$625.08	$538.05 - $699.54
Q3 2021	18,293	$10,532	$629.41	$573.24 - $673.88
Q2 2021	18,100	$10,600	$515.47	$468.50 - $592.24
Q1 2021	18,473	$8,782	$467.43	$420.78 - $506.51
Q4 2020	17,450	$8,727	$483.11	$438.94 - $519.60
Q3 2020	14,765	$7,241	$465.18	$416.29 - $536.88
Q2 2020	15,038	$6,546	$370.53	$289.71 - $446.15