Thoma Bravo

Hedge fund manager

Thoma Bravo is an SEC-registered investment adviser based in Chicago, IL that reports managing 5 hedge funds on Form ADV. It reports $182.9 billion in regulatory assets under management. Its private funds, of all types, hold $182.9 billion in gross assets. Its disclosed U.S. stock holdings returned an estimated -28.5% 2026 YTD through Jun 30 (S&P 500: +9.5%), based on 13F filings. Over a longer period they returned an estimated -19.1% from Q3 2024 to Q2 2026, compared with +34.3% for the S&P 500, based on 13F filings.

Regulatory assets under management: $182.9 billionForm ADV Item 5.F
Gross assets of private funds: $182.9 billionAll private fund types, Form ADV
Hedge funds managed: 5151 private funds in total
Employees: 246Form ADV Item 5.A
Registration: SEC-registered adviserCRD 157041
Latest Form ADV: 10/08/2026Disciplinary disclosures: none reported

Estimated 13F portfolio performance

Est. 2026 YTD-28.5%Through Q2 2026 · S&P 500 +9.5%

Est. 2-year return-19.1%Q3 2024 – Q2 2026

S&P 500+34.3%Same quarters, price only

13F holdings$7.3 billion3 positions, 2026-06-30

Quarter	Est. 13F return	S&P 500
Q2 2026	+9.5%	+14.8%
Q1 2026	-34.7%	-4.6%
Q4 2025	-7.7%	+2.4%
Q3 2025	-2.4%	+7.8%
Q2 2025	+14.7%	+10.4%
Q1 2025	-0.5%	-4.5%
Q3 2024	+10.1%	+5.4%

Estimate of the firm's disclosed long U.S. stock portfolio from its quarterly 13F filings, holding each quarter-end portfolio to the next quarter-end at prices implied by all 13F filers. It is a price return before dividends and fees, ignores shorts, options, bonds, cash and trading within the quarter, and is not the return of any fund. Disclosures

Largest disclosed holdings

Sailpoint Inc$7.0 billion
N-able Inc$183.8 million
Servicetitan Inc CL A$73.5 million

As of 2026-06-30, from 13F filing by Thoma Bravo, L.P..

Private equity funds filing Form D (11)

Fund

First sale

Raised

Investors

Minimum

Offering

Thoma Bravo Fund XVI-A, L.P.

Thoma Bravo Europe Fund, L.P.

Thoma Bravo Employee Fund II, L.P.

Thoma Bravo Executive Fund XVI-P, L.P.

Thoma Bravo Executive Fund XVI, L.P.

Thoma Bravo Discover Executive Fund V-P, L.P.

Thoma Bravo Discover Executive Fund V, L.P.

Thoma Bravo Access Fund II-P, L.P.

Thoma Bravo Access Fund II-A, L.P.

Thoma Bravo Access Fund II, L.P.

Thoma Bravo Credit Fund Q-1, L.P.

Grand Cayman, Cayman IslandsOffshore

Matched to this firm by the fund names and related persons in each Form D. The list may be incomplete.

Private funds reported on Form ADV (101)

Fund

Gross assets

Minimum

Owners

Adviser

Thoma Bravo Fund XV-A, L.P.

Thoma Bravo

Estimated 13F portfolio performance

Largest disclosed holdings

Private equity funds filing Form D (11)

Private funds reported on Form ADV (101)

Fund vehicles: feeder funds and single-deal vehicles (14)