TriplePoint Venture Growth BDC (TPVG)
Market Price (5/3/2026): $5.51 | Market Cap: $222.6 MilSector: Financials | Industry: Asset Management & Custody Banks
TriplePoint Venture Growth BDC (TPVG)
Market Price (5/3/2026): $5.51Market Cap: $222.6 MilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 40%, Dividend Yield is 18%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 36% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 26% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26% Low stock price volatilityVol 12M is 32% Megatrend and thematic driversMegatrends include Digital & Alternative Assets. Themes include Venture Capital, and Private Credit. | Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -101% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 200% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -99%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -99% Key risksTPVG key risks include [1] deteriorating portfolio credit quality leading to high non-accrual rates and investment losses, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 40%, Dividend Yield is 18%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 36% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 26% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -26% |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets. Themes include Venture Capital, and Private Credit. |
| Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -101% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 200% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -99%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -99% |
| Key risksTPVG key risks include [1] deteriorating portfolio credit quality leading to high non-accrual rates and investment losses, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Weaker-than-expected Q4 2025 financial results and unrealized losses created downward pressure.
TriplePoint Venture Growth BDC reported Q4 2025 earnings per share (EPS) of $0.25 on March 4, 2026, missing the consensus estimate of $0.26 by $0.01. Additionally, quarterly revenue came in at $3.42 million, significantly below analyst estimates of approximately $23.8 million. The company also recorded net unrealized losses of $6.6 million on investments, largely due to fair value adjustments on its warrant and equity portfolio, and its exposure to volatile venture growth and software sectors contributed to a heightened risk perception.
2. Negative analyst sentiment and downgrades limited upward movement.
Multiple equities analysts issued negative reports during the period, contributing to a "Reduce" consensus rating with an average price target of $5.63. Specifically, Weiss Ratings downgraded TPVG from "hold (c-)" to "sell (d+)" on March 12, 2026, and Zacks Research lowered its rating from "hold" to "strong sell" on April 16, 2026. Keefe, Bruyette & Woods also reduced their price target from $7.00 to $6.50 and set a "market perform" rating on March 5, 2026.
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Stock Movement Drivers
Fundamental Drivers
The -2.4% change in TPVG stock from 1/31/2026 to 5/2/2026 was primarily driven by a -32.6% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5022026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.70 | 5.56 | -2.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 44 | 57 | 30.2% |
| Net Income Margin (%) | 76.9% | 85.8% | 11.5% |
| P/E Multiple | 6.8 | 4.6 | -32.6% |
| Shares Outstanding (Mil) | 40 | 40 | -0.2% |
| Cumulative Contribution | -2.4% |
Market Drivers
1/31/2026 to 5/2/2026| Return | Correlation | |
|---|---|---|
| TPVG | -2.4% | |
| Market (SPY) | 3.6% | 45.8% |
| Sector (XLF) | -2.3% | 37.5% |
Fundamental Drivers
The 10.5% change in TPVG stock from 10/31/2025 to 5/2/2026 was primarily driven by a 11.1% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 5022026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.03 | 5.56 | 10.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 54 | 57 | 7.2% |
| Net Income Margin (%) | 77.2% | 85.8% | 11.1% |
| P/E Multiple | 4.9 | 4.6 | -6.8% |
| Shares Outstanding (Mil) | 40 | 40 | -0.4% |
| Cumulative Contribution | 10.5% |
Market Drivers
10/31/2025 to 5/2/2026| Return | Correlation | |
|---|---|---|
| TPVG | 10.5% | |
| Market (SPY) | 5.5% | 29.8% |
| Sector (XLF) | -0.0% | 28.2% |
Fundamental Drivers
The 7.8% change in TPVG stock from 4/30/2025 to 5/2/2026 was primarily driven by a 26.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5022026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.16 | 5.56 | 7.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 46 | 57 | 26.0% |
| Net Income Margin (%) | 70.4% | 85.8% | 21.9% |
| P/E Multiple | 6.4 | 4.6 | -29.2% |
| Shares Outstanding (Mil) | 40 | 40 | -0.9% |
| Cumulative Contribution | 7.8% |
Market Drivers
4/30/2025 to 5/2/2026| Return | Correlation | |
|---|---|---|
| TPVG | 7.8% | |
| Market (SPY) | 30.4% | 30.6% |
| Sector (XLF) | 8.1% | 31.2% |
Fundamental Drivers
The -24.7% change in TPVG stock from 4/30/2023 to 5/2/2026 was primarily driven by a -703.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5022026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.38 | 5.56 | -24.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | -10 | 57 | -703.3% |
| P/S Multiple | -27.4 | 3.9 | -114.3% |
| Shares Outstanding (Mil) | 35 | 40 | -12.6% |
| Cumulative Contribution | -24.7% |
Market Drivers
4/30/2023 to 5/2/2026| Return | Correlation | |
|---|---|---|
| TPVG | -24.7% | |
| Market (SPY) | 78.7% | 36.0% |
| Sector (XLF) | 64.3% | 40.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TPVG Return | 51% | -35% | 20% | -20% | 4% | -13% | -14% |
| Peers Return | 8% | -13% | 12% | 2% | 6% | -2% | 11% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 5% | 92% |
Monthly Win Rates [3] | |||||||
| TPVG Win Rate | 83% | 33% | 58% | 25% | 50% | 50% | |
| Peers Win Rate | 40% | 23% | 46% | 35% | 38% | 30% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TPVG Max Drawdown | -2% | -37% | -2% | -32% | -20% | -28% | |
| Peers Max Drawdown | -12% | -27% | -6% | -8% | -11% | -19% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTS, SLRC, GEG, ALP, PS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/1/2026 (YTD)
How Low Can It Go
| Event | TPVG | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -13.7% | -7.8% |
| % Gain to Breakeven | 15.8% | 8.5% |
| Time to Breakeven | 88 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -12.4% | -6.7% |
| % Gain to Breakeven | 14.2% | 7.1% |
| Time to Breakeven | 34 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -78.6% | -33.7% |
| % Gain to Breakeven | 367.5% | 50.9% |
| Time to Breakeven | 245 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.3% | -19.2% |
| % Gain to Breakeven | 23.9% | 23.7% |
| Time to Breakeven | 46 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -24.5% | -12.2% |
| % Gain to Breakeven | 32.5% | 13.9% |
| Time to Breakeven | 151 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -33.2% | -6.8% |
| % Gain to Breakeven | 49.6% | 7.3% |
| Time to Breakeven | 279 days | 15 days |
In The Past
TriplePoint Venture Growth BDC's stock fell -13.7% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 15.8% gain to breakeven.
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| Event | TPVG | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -78.6% | -33.7% |
| % Gain to Breakeven | 367.5% | 50.9% |
| Time to Breakeven | 245 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -24.5% | -12.2% |
| % Gain to Breakeven | 32.5% | 13.9% |
| Time to Breakeven | 151 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -33.2% | -6.8% |
| % Gain to Breakeven | 49.6% | 7.3% |
| Time to Breakeven | 279 days | 15 days |
In The Past
TriplePoint Venture Growth BDC's stock fell -13.7% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 15.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About TriplePoint Venture Growth BDC (TPVG)
AI Analysis | Feedback
Here are 1-3 brief analogies for TriplePoint Venture Growth BDC (TPVG):
A publicly-traded fund that acts as a **specialized bank for growth-stage tech and life science companies**, much like **Silicon Valley Bank** (pre-collapse) did for startups.
It's like a **publicly-traded mutual fund or ETF** for investors seeking exposure to **loans made to promising, venture-backed tech and life science startups**.
Imagine a **venture capital firm that primarily provides loans (venture debt)** instead of equity, to established, high-growth tech and life science startups, but you can invest in it publicly.
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- Growth Capital Loans: Debt financing provided to support the expansion and operational needs of venture capital-backed companies.
- Secured and Customized Loans: Tailored debt solutions backed by collateral, designed to meet the specific financial requirements of growth-stage businesses.
- Equipment Financings: Loans specifically for the purchase or leasing of essential equipment for portfolio companies.
- Revolving Loans: Flexible lines of credit that companies can draw upon, repay, and redraw as their working capital needs evolve.
- Direct Equity Investments: Minority equity stakes taken in portfolio companies, often acquired through warrants, for potential capital appreciation.
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TriplePoint Venture Growth BDC (TPVG) Major Customers
TriplePoint Venture Growth BDC (TPVG) sells primarily to other companies. Based on the provided background information, TPVG's major customers are:
- Venture capital-backed companies at the growth stage.
- These companies operate across various high-growth sectors, including:
- Technology: Subsectors include Security, wireless communication equipment, network system and software, business applications software, conferencing equipment/services, big data, cloud computing, data storage, electronics, energy efficiency, hardware, information services, internet and media, networking, semiconductors, software, software as a service, and other technology-related subsectors.
- Life Sciences: Subsectors include biotechnology, biofuels/biomass, diagnostic testing and bioinformatics, drug delivery, drug discovery, healthcare information systems, healthcare services, medical, surgical and therapeutic devices, pharmaceuticals, and other life science-related subsectors.
- E-commerce
- Entertainment
The provided background description does not list the names of specific customer companies that TriplePoint Venture Growth BDC provides financing to.
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James P. Labe, Chief Executive Officer and Chairman of the Board
James P. Labe is the Chief Executive Officer and Chairman of the Board of TriplePoint Venture Growth BDC Corp.. He is also the co-founder and co-CEO of TriplePoint Capital LLC (TPC), which is TPVG's sponsor. Mr. Labe is widely recognized as a pioneer in the venture leasing and lending segment of the commercial finance industry. He previously founded and led Comdisco Ventures, where he was responsible for over $3 billion in venture loan and lease transactions across more than 970 venture capital-backed companies. He also serves as CEO and Chairman of TriplePoint Private Venture Credit Inc. (TPVC), a non-listed BDC affiliated with TriplePoint. Mr. Labe holds an Executive MBA from the University of Chicago and a B.A. from Middlebury College.
Mike L. Wilhelms, Chief Financial Officer
Mike L. Wilhelms was appointed Chief Financial Officer of TriplePoint Venture Growth BDC Corp. effective January 6, 2025. He also serves as CFO for TriplePoint Capital LLC and other affiliated entities. Mr. Wilhelms brings over 30 years of financial leadership and private credit experience, including working with public and private companies in the business development company (BDC) and asset management sectors. Prior to joining TriplePoint, he served as CFO of Sabal Capital Holding Company, LLC, and Sabal Capital Partners, LLC, a commercial real estate lending platform that was sold to Regions Bank in December 2021. Before Sabal, he was at Crescent Capital Group LP, where he was CFO of Crescent Capital BDC, Inc. and the publicly-listed Crescent Acquisition Corp. His career also includes roles at Triad Financial Corporation and as an audit manager at KPMG. Mr. Wilhelms holds a B.A. in Business Economics from the University of California Santa Barbara and is a Certified Public Accountant (inactive).
Sajal K. Srivastava, President and Chief Investment Officer
Sajal K. Srivastava serves as the President and Chief Investment Officer of TriplePoint Venture Growth BDC Corp.. He also holds the titles of Treasurer, Secretary, and Director for the company.
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Key Risks to the Business
-
Deteriorating Credit Quality of Portfolio Companies: A primary risk for TriplePoint Venture Growth BDC is the potential for deteriorating credit quality among its portfolio companies. As a lender to venture capital-backed growth-stage companies, TPVG faces inherent risks associated with these less mature businesses. The company has experienced elevated non-accrual rates, which are reported to be significantly above the broader Business Development Company (BDC) industry average, directly impacting its profitability and net asset value.
-
Sustainability of Dividend and Pressure on Net Investment Income: TPVG has faced concerns regarding the sustainability of its dividend, evidenced by past dividend cuts and a high dividend payout ratio. This risk is closely tied to fluctuations and declines in the company's net investment income and a reduction in portfolio yields, which place considerable pressure on its ability to cover dividend distributions.
-
Volatility and Valuation Risks in the Venture Capital Market: TriplePoint Venture Growth BDC's investments in venture growth-stage companies make it highly susceptible to the inherent volatility of the venture capital market. This includes broad market trends, changes in venture funding, technology valuations, and the pace of initial public offerings (IPOs) and mergers & acquisitions (M&A) activity. Declines in the valuations of its portfolio companies, particularly in concentrated positions, can significantly impact TPVG's net asset value and lead to potential write-downs. Concerns have also been raised about the timeliness and accuracy of the company's valuation practices for its underlying investments.
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A clear emerging threat for TriplePoint Venture Growth BDC (TPVG) is the sustained and challenging exit environment for venture capital-backed companies. TPVG specializes in providing debt and equity financing to growth-stage companies that are typically backed by venture capital. The ability of these portfolio companies to repay loans and generate returns for TPVG often relies on future equity funding rounds or successful liquidity events such as initial public offerings (IPOs) or strategic acquisitions. A prolonged downturn or structural shift in the M&A and IPO markets for venture-backed companies severely impacts the ability of TPVG's borrowers to access follow-on capital or achieve exits, thereby increasing the risk of defaults and impairing TPVG's investment performance. This shift in the venture capital liquidity cycle represents a fundamental threat to the business model of venture debt providers like TPVG.
AI Analysis | Feedback
TriplePoint Venture Growth BDC (TPVG) operates within the addressable markets of venture debt and growth equity, providing financing to venture capital-backed companies at the growth stage. The addressable markets for TPVG's main products and services are:- Venture Debt and Growth Capital Loans: The global venture debt market expanded to an aggregate deal value of $83.4 billion in 2024. In the United States, venture debt deals reached $53.3 billion in investments in 2024. The European venture debt market reached €26.5 billion in 2024, which is approximately $28.5 billion.
- Direct Equity Investments in Growth Stage Companies: Equity capital investments in late-stage private companies reached $350 billion in 2025. The equity value for companies targeted by growth credit, which includes private equity growth equity investments and venture capital late-stage investments, was $720 billion in the U.S. at the end of 2024.
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TriplePoint Venture Growth BDC (TPVG) is anticipated to experience revenue growth over the next 2-3 years, driven by several strategic initiatives and market dynamics:
- Increased Capital Deployment and Robust Investment Pipeline: TPVG demonstrated a substantial increase in its investment activity during 2025, securing $508 million in new debt commitments and funding $287 million, which represents a significant rise from the previous year. This strong momentum, coupled with a stated quarterly funding target of $25 million to $50 million for 2026, and an active unfunded commitments pipeline of $260.4 million, indicates a continued ability to deploy capital and expand its income-generating asset base.
- Strategic Focus on the High-Growth Artificial Intelligence (AI) Sector: The company has strategically aligned its investment focus with the rapidly expanding AI sector. In 2025, AI represented 65% of the total U.S. venture deal value and 39% of the deal count. TPVG's commitment to backing "category-defining companies at the forefront of applied AI infrastructure and deployment," with 70% of its new software investments in 2024-2025 being AI-enabled or AI-native, positions it to capitalize on significant growth opportunities within this sector.
- Enhanced Capital Structure and Liquidity: TPVG has proactively strengthened its capital structure by refinancing its 2026 notes in the first quarter of 2025 and extending its revolving credit facility. This improved financial flexibility and liquidity, including maintaining operating flexibility through its credit facility and at-the-market equity program, supports its capacity to originate new loans and make direct equity investments, thereby fueling future revenue growth.
- Portfolio Repositioning Towards Higher Quality and Stability: Management has emphasized a strategy of active portfolio repositioning, shifting towards higher-quality, larger-scale venture growth companies. This deliberate shift is intended to stabilize the company's income stream over the long term and enhance overall credit quality, which is expected to lead to more consistent interest income and reduce the impact of non-accruals, thereby contributing to more durable revenue generation.
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<h3>Share Repurchases</h3>
<ul>
<li>TriplePoint Capital LLC (TPC), TPVG's sponsor, purchased 1,809,827 shares of common stock in the open market under its discretionary share purchase program during 2025.</li>
<li>By early 2026, TPC's total purchases under this program reached approximately 2 million shares, representing nearly 5% of TPVG's outstanding shares.</li>
</ul>
<h3>Share Issuance</h3>
<ul>
<li>In August 2022, TriplePoint Venture Growth BDC Corp. commenced an underwritten public offering of 3,750,000 shares of its common stock.</li>
<li>The company intended to grant the underwriters an option to purchase up to an additional 562,500 shares in connection with this offering.</li>
<li>Shares outstanding increased from 31 million at the end of 2021 to 40.491 million by December 31, 2025.</li>
</ul>
<h3>Outbound Investments</h3>
<ul>
<li>In 2025, TPVG closed $508.1 million of new debt commitments to venture growth stage companies, marking its highest amount in over two years.</li>
<li>The company funded $287.1 million in debt investments to 31 portfolio companies during 2025.</li>
<li>The total investment portfolio grew by $107.3 million, reaching a fair value of $783.5 million by December 31, 2025, with a strategic focus on the AI sector.</li>
</ul>Trade Ideas
Select ideas related to TPVG.
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Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 10.71 |
| Mkt Cap | 0.5 |
| Rev LTM | 57 |
| Op Inc LTM | -12 |
| FCF LTM | -65 |
| FCF 3Y Avg | 52 |
| CFO LTM | -62 |
| CFO 3Y Avg | 55 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.1% |
| Rev Chg 3Y Avg | 46.3% |
| Rev Chg Q | 1.4% |
| QoQ Delta Rev Chg LTM | 0.6% |
| Op Inc Chg LTM | -6.3% |
| Op Inc Chg 3Y Avg | -4.9% |
| Op Mgn LTM | -16.6% |
| Op Mgn 3Y Avg | -22.0% |
| QoQ Delta Op Mgn LTM | -5.8% |
| CFO/Rev LTM | -38.8% |
| CFO/Rev 3Y Avg | 6.8% |
| FCF/Rev LTM | -39.2% |
| FCF/Rev 3Y Avg | 6.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.5 |
| P/S | 3.4 |
| P/Op Inc | 0.0 |
| P/EBIT | -2.3 |
| P/E | 5.6 |
| P/CFO | -8.0 |
| Total Yield | 21.6% |
| Dividend Yield | 8.7% |
| FCF Yield 3Y Avg | 3.9% |
| D/E | 1.7 |
| Net D/E | 1.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 8.6% |
| 3M Rtn | -3.5% |
| 6M Rtn | -2.1% |
| 12M Rtn | 7.2% |
| 3Y Rtn | -1.9% |
| 1M Excs Rtn | -0.2% |
| 3M Excs Rtn | -7.7% |
| 6M Excs Rtn | -7.3% |
| 12M Excs Rtn | -22.0% |
| 3Y Excs Rtn | -82.8% |
Price Behavior
| Market Price | $5.56 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 03/06/2014 | |
| Distance from 52W High | -15.5% | |
| 50 Days | 200 Days | |
| DMA Price | $5.14 | $5.59 |
| DMA Trend | down | down |
| Distance from DMA | 8.1% | -0.5% |
| 3M | 1YR | |
| Volatility | 39.7% | 32.2% |
| Downside Capture | 0.56 | 0.53 |
| Upside Capture | 64.77 | 78.69 |
| Correlation (SPY) | 42.4% | 30.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.36 | 1.14 | 1.13 | 0.75 | 0.77 | 0.75 |
| Up Beta | 1.01 | 0.96 | 1.14 | 0.48 | 0.79 | 0.59 |
| Down Beta | 6.62 | 1.78 | 1.60 | 0.68 | 0.35 | 0.76 |
| Up Capture | 130% | 104% | 62% | 81% | 66% | 38% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 13 | 22 | 29 | 66 | 129 | 380 |
| Down Capture | 678% | 114% | 138% | 94% | 109% | 101% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 8 | 19 | 33 | 55 | 111 | 341 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TPVG | |
|---|---|---|---|---|
| TPVG | 7.8% | 32.1% | 0.26 | - |
| Sector ETF (XLF) | 8.2% | 14.7% | 0.32 | 31.2% |
| Equity (SPY) | 30.6% | 12.5% | 1.88 | 30.6% |
| Gold (GLD) | 39.5% | 27.2% | 1.20 | 0.5% |
| Commodities (DBC) | 51.5% | 17.9% | 2.20 | 0.7% |
| Real Estate (VNQ) | 13.1% | 13.5% | 0.67 | 32.1% |
| Bitcoin (BTCUSD) | -17.1% | 42.2% | -0.33 | 15.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TPVG | |
|---|---|---|---|---|
| TPVG | -6.4% | 31.3% | -0.17 | - |
| Sector ETF (XLF) | 9.8% | 18.7% | 0.40 | 41.1% |
| Equity (SPY) | 12.8% | 17.1% | 0.59 | 41.5% |
| Gold (GLD) | 20.5% | 17.9% | 0.94 | 6.8% |
| Commodities (DBC) | 14.3% | 19.1% | 0.61 | 12.0% |
| Real Estate (VNQ) | 3.5% | 18.8% | 0.09 | 42.9% |
| Bitcoin (BTCUSD) | 7.7% | 56.2% | 0.35 | 16.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TPVG | |
|---|---|---|---|---|
| TPVG | 6.6% | 67.6% | 0.29 | - |
| Sector ETF (XLF) | 12.6% | 22.2% | 0.52 | 29.1% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 26.1% |
| Gold (GLD) | 13.6% | 15.9% | 0.71 | -0.5% |
| Commodities (DBC) | 9.7% | 17.7% | 0.46 | 13.6% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 28.7% |
| Bitcoin (BTCUSD) | 67.7% | 66.9% | 1.07 | 13.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/4/2026 | 1.7% | 4.2% | 1.0% |
| 11/5/2025 | 3.4% | 7.4% | 20.6% |
| 8/6/2025 | -8.3% | -8.3% | -1.0% |
| 3/5/2025 | -5.4% | -4.5% | -9.2% |
| 11/6/2024 | 10.7% | 16.7% | 21.3% |
| 8/7/2024 | -7.2% | -9.7% | -7.0% |
| 3/6/2024 | -12.3% | -10.4% | -11.3% |
| 11/1/2023 | 2.3% | 5.3% | 9.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 12 |
| # Negative | 7 | 6 | 7 |
| Median Positive | 3.5% | 5.3% | 7.4% |
| Median Negative | -7.2% | -9.0% | -7.1% |
| Max Positive | 10.7% | 16.7% | 53.0% |
| Max Negative | -12.3% | -10.4% | -11.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/04/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/05/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 03/06/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 3/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Dividends | 0.23 | 0 | Same New | Actual: 0.23 for Q4 2025 | |||
Prior: Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Dividends | 0.23 | 0 | Same New | Actual: 0.23 for Q3 2025 | |||
| Q4 2025 Supplemental Distribution | 0.02 | ||||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Srivastava, Sajal | President and CIO | TriplePoint Capital LLC | Buy | 1072026 | 6.61 | 34,000 | 224,886 | 12,639,795 | Form |
| 2 | Labe, James | Chief Executive Officer | TriplePoint Capital LLC | Buy | 1072026 | 6.61 | 34,000 | 224,886 | 12,639,795 | Form |
| 3 | Srivastava, Sajal | President and CIO | TriplePoint Capital LLC | Buy | 1072026 | 6.70 | 40,000 | 267,988 | 12,575,203 | Form |
| 4 | Labe, James | Chief Executive Officer | TriplePoint Capital LLC | Buy | 1072026 | 6.70 | 40,000 | 267,988 | 12,575,203 | Form |
| 5 | Labe, James | Chief Executive Officer | TriplePoint Capital LLC | Buy | 1052026 | 6.60 | 27,153 | 179,327 | 12,131,967 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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