Breaking down the stocks Orlando Bravo (Thoma Bravo) bought, sold, and held in Q1 2026, including their holdings at the end of the quarter. All data sourced from Thoma Bravo's 13F filed on April 29, 2026.
Who are Orlando Bravo and Thoma Bravo?
Orlando Bravo is the founder and managing partner of Thoma Bravo (commonly referred to as Thoma Bravo). The firm is known for its highly concentrated public equity portfolio, typically consisting of 3-5 stocks, with the top holding comprising over 90% of assets, and minimal cash holdings as it deploys capital into strategic software investments. His investment strategy is a growth-oriented private equity buyout approach specialized in software and technology, emphasizing value creation through operational improvements, strategic partnerships, and targeted acquisitions to transform companies into industry leaders. Bravo focuses on innovative companies in sectors like enterprise software, cybersecurity, and tech-enabled services that can achieve massive scale and long-term compounding, with strong qualitative factors like recurring revenue streams, high margins, defensible moats, market-leading positions, resilient business models, and alignment with secular trends such as digital transformation and AI adoption.
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Thoma Bravo on X
Orlando Bravo on X
Q1 '26 13F filed with SEC
Holdings in Q1 2026
| Ticker | Company | Weight | Change | Value |
|---|---|---|---|---|
| SailPoint | 95.5% | $6353.11B | ||
| NABL | N-able | 3.5% | $233.92B | |
| TTAN | ServiceTitan | 1.0% | $65.94B |
Current Investment Strategy
Orlando Bravo's Thoma Bravo maintained its characteristically tight, high-conviction public equity portfolio in Q1 2026, anchoring its disclosed holdings in three enterprise software names — identity security leader **SailPoint**, IT managed-services platform **N-able**, and field service management software provider **ServiceTitan** — consistent with the firm's signature focus on mission-critical, recurring-revenue software businesses across cybersecurity and tech-enabled services. The Chicago-based private equity giant continues to execute its "buy-and-build" playbook, acquiring software companies with defensible market positions, engineering operational improvements to accelerate growth and profitability, and cycling them back to public markets — a cycle exemplified by **SailPoint**'s February 2025 re-IPO — as it pursues long-term value creation aligned with secular tailwinds in digital transformation and AI adoption.
New Investments
Thoma Bravo did not open any new positions during Q1 2026.
Added, Trimmed, and Exited
Added
Thoma Bravo did not add to any existing positions during Q1 2026.
Trimmed
Thoma Bravo made no trims to any of its existing holdings — SailPoint, N-able (NABL), or ServiceTitan (TTAN) — during Q1 2026.
Exited
Thoma Bravo fully exited no positions during Q1 2026, leaving its portfolio unchanged at three holdings.
Disclaimer: All posts are for informational purposes only. They are NOT a recommendation to buy or sell the securities discussed. Please do your own research and due diligence before investing your money.
