We explored the differences among 327 lesbian, gay, and/or bisexual (LGB) individuals on the dimensions of the Lesbian, Gay, and Bisexual Positive Identity Measure (LGB-PIM), a recently developed instrument to assess positive facets of LGB identity. We evaluated the relationship between the dimensions of LGB-PIM and self-relating processes (self-criticism, self-hate, and self-reassurance), internalized sexual stigma (ISS), social safeness and well-being, and the distinctive impact of the LGB-PIM dimensions on well-being. Lesbian/gay participants showed significantly higher levels of all five dimensions of positive identity than bisexual people. All LGB-PIM dimensions, except for commitment to social justice, showed correlations with well-being, self-relating processes, ISS, and social safeness. When controlling for other variables, only authenticity showed a significant unique relevance to positive psychological functioning in this population.