We analyzed the associations between sexual orientation and subjection to/perpetration of bullying at school, taking into account confounding by psychiatric symptom dimensions and involvement in the other role. Survey data among 25,147 boys and 25,257 girls in comprehensive school, and 33,231 boys and 36,765 girls in upper secondary education in Finland were used. Data were analyzed using cross-tabulations with Chi-square statistics and logistic regression. Even though associations between sexual minority status and subjection to bullying grew weaker when confounding was controlled for, independent associations were found in both boys and girls, and in both younger and older adolescents. Positive associations first seen between same sex attraction and bullying perpetration leveled out and partially turned inverse when controlling for confounding. Uncertainty about one's interests had different associations with involvement in bullying in different age groups.