Thoma Bravo and its affiliated funds filed Amendment No. 3 to their Schedule 13D on N-able, Inc. common stock on November 9, 2026, disclosing updated beneficial ownership positions as of the event date of November 5, 2026.

Key Highlights

  • Triggering event date: The filing identifies November 5, 2026 as the date of the event requiring this amended statement.
  • Largest single-entity position: Thoma Bravo Partners XI, L.P. reported shared voting and dispositive power over 34,716,287 shares, representing 19.6% of the class.
  • Second-largest position: Thoma Bravo Fund XI, L.P. reported shared voting and dispositive power over 16,333,201 shares, or 9.2% of the class.
  • Multiple affiliated funds disclosed: Nine separate Thoma Bravo entities filed cover pages, each reporting zero sole voting or dispositive power and all holdings held on a shared basis.
  • Source of funds: All reporting persons listed "OO" (other) as the source of funds.
  • Issuer security: The filing covers common stock of N-able, Inc. with par value $0.001 per share and CUSIP 62878D100.

Thoma Bravo Affiliated Funds Report Updated N-able Ownership Positions

According to the filing, Thoma Bravo and a group of affiliated Delaware limited partnerships submitted Amendment No. 3 to their Schedule 13D covering N-able, Inc. common stock. The contact person identified is Steven Schwab, located at 110 N. Wacker Drive, 32nd Floor, Chicago, IL 60606. All reporting entities are organized in Delaware, and all beneficial ownership is held exclusively on a shared voting and shared dispositive basis, with zero sole voting or sole dispositive power reported by any individual fund.

Among the nine entities disclosing positions, Thoma Bravo Partners XI, L.P. reported the largest holding at 34,716,287 shares, equal to 19.6% of the class, followed by Thoma Bravo Fund XI, L.P. at 16,333,201 shares (9.2%), Thoma Bravo Fund XII, L.P. at 8,079,625 shares (4.6%), Thoma Bravo Fund XI-A, L.P. at 8,202,937 shares (4.6%), and Thoma Bravo Fund XII-A, L.P. at 7,145,401 shares (4.0%). Thoma Bravo Special Opportunities Fund II, L.P. reported 6,610,607 shares (3.7%), and Thoma Bravo Special Opportunities Fund II-A, L.P. reported 3,209,216 shares (1.8%). Smaller positions were held by Thoma Bravo Executive Fund XI, L.P. at 360,326 shares (0.2%), Thoma Bravo Executive Fund XII, L.P. at 79,070 shares, and Thoma Bravo Executive Fund XII-A, L.P. at 70,260 shares, each representing 0.0% of the class.

The filing notes that if the reporting persons previously filed a Schedule 13G, they may be filing this Schedule 13D pursuant to Rules 240.13d-1(e), 240.13d-1(f), or 240.13d-1(g). The filing further states that the cover page information "shall not be deemed to be 'filed' for the purpose of Section 18 of the Securities Exchange Act of 1934."

What Was Disclosed

Thoma Bravo and nine affiliated funds filed Amendment No. 3 to a Schedule 13D on N-able, Inc. (CUSIP 62878D100), reporting updated shared beneficial ownership positions across multiple Delaware limited partnerships as of November 5, 2026.