This paper explores a sūtra-based doxography contained in the 12th-century Tangut Mahāmudrā work Notes on the Keypoints of Mahāmudrā as the Ultimate. It employs the doctrinal complex of the doxography to demonstrate the common Mahāyāna discursive framework within which the tantra-originated Mahāmudrā has grounded its meaning. It further argues that the doxography integrates the Yogācāra-Madhyamaka and Buddha-nature currents of thought as the philosophical ground for Mahāmudrā.