THOMA BRAVO, L.P.

Fundamental diversified ★Signal technology specialist (100%) CIK 1450701
Long book
$6.65B
Q1 2026
Positions
3
Top-10 weight
100%
concentration
Last quarter
+14.5%
SPY +14.8%
Turnover
0%
of book per quarter

Strategy in plain words

auto-generated from filings

THOMA BRAVO, L.P. is a diversified fundamental manager, specialised in technology (100% of the long book), running a $6.65B US long book across 3 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: SAILPOINT INC, N-ABLE INC, SERVICETITAN INC-A.

Over the last 9 quarters its long book ran on average 4.5pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
-2.0%
Q2 2024
+16.9%
Q3 2024
+0.2%
Q4 2024
-4.4%
Q1 2025
+20.7%
Q2 2025
-3.4%
Q3 2025
-8.1%
Q4 2025
-34.7%
Q1 2026
+14.5%

Sector allocation

Technology
100%

Long book by quarter

$10.32B
Q1 2024
$10.14B
Q2 2024
$7.92B
Q3 2024
$5.58B
Q4 2024
$14.56B
Q1 2025
$11.96B
Q2 2025
$11.67B
Q3 2025
$10.18B
Q4 2025
$6.65B
Q1 2026

What does THOMA BRAVO, own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
SAIL SAILPOINT INCTechnology479.8M$6.35B95.5%Held
NABL N-ABLE INCTechnology50.1M$233.9M3.5%Held
TTAN SERVICETITAN INC-ATechnology1.0M$65.9M1.0%Held

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRApr 29, 20263$6.65B canonicalSEC ↗
Q4 202513F-HRJan 28, 20263$10.18B canonicalSEC ↗
Q3 202513F-HROct 16, 20254$11.67B canonicalSEC ↗
Q2 202513F-HRAug 4, 20254$11.96B canonicalSEC ↗
Q1 202513F-HRApr 22, 20257$14.56B canonicalSEC ↗
Q4 202413F-HRFeb 14, 20256$5.58B canonicalSEC ↗
Q3 202413F-HRNov 13, 20245$7.92B canonicalSEC ↗
Q2 202413F-HRAug 14, 20245$10.14B canonicalSEC ↗
Q1 202413F-HRMay 15, 20246$10.32B canonicalSEC ↗