Thoma Bravo, L.P.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 4, 2025), Thoma Bravo, L.P. reported 4 stock positions worth $12.0 billion. Its top holding was Sailpoint (SAIL) at 91.7% of the portfolio, followed by Meridianlink (MLNK, 3.9%) and N-Able (NABL, 3.4%). Compared with Q1 2025, it sold out of 3. The biggest sale was an exit from Nasdaq (NDAQ).

Most Recent 13F
Q2 2026
Location
CHICAGO, IL
CIK
0001450701
Portfolio Value
$12.0B (Q2 2025)
SEC Filing
0002062142-25-000002 ↗ filed Aug 4, 2025

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $10.3B Q1 2024 Q2 2024: $10.1B Q2 2024 Q3 2024: $7.9B Q3 2024 Q4 2024: $5.6B Q4 2024 Q1 2025: $14.6B Q1 2025 Q2 2025: $12.0B $12.0B Q2 2025 Q3 2025: $11.7B Q3 2025 Q4 2025: $10.2B Q4 2025 Q1 2026: $6.7B Q1 2026 Q2 2026: $7.3B Q2 2026

Holdings 4 stocks · $12.0B
SAIL Sailpoint Inc. 91.75% 479,842,514 $11.0B No change
MLNK Meridianlink Inc. 3.93% 28,932,388 $469.6M No change
NABL N-Able Inc. 3.39% 50,090,643 $405.7M No change
TTAN Servicetitan Inc. Class A 0.93% 1,039,099 $111.4M No change

Portfolio Sells Q1 2025 → Q2 2025
NDAQ Nasdaq Inc. Sold out 0.00% −22.31
SWI Solarwinds Corp. Sold out 0.00% −6.37
CYBR Cyberark Software Ltd./Israel Sold out 0.00% −2.65

Portfolio Buys Q1 2025 → Q2 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 3$7.3BSAIL, NABL, TTAN
Q1 2026 3$6.7BSAIL, NABL, TTAN
Q4 2025 3$10.2BSAIL, NABL, TTAN
Q3 2025 4$11.7BSAIL, MLNK, NABL, TTAN
Q2 2025 4$12.0BSAIL, MLNK, NABL, TTAN
Q1 2025 7$14.6BSAIL, NDAQ, SWI, MLNK, CYBR
Q4 2024 6$5.6BNDAQ, SWI, MLNK, NABL, CYBR
Q3 2024 5$7.9BNDAQ, INST, NABL, SWI, MLNK
Q2 2024 5$10.1BNDAQ, INST, NABL, MLNK, SWI
Q1 2024 6$10.3BNDAQ, INST, MLNK, NABL, SWI