Tearsheet

Trinity Capital (TRIN)


Market Price (2/6/2026): $15.91 | Market Cap: $1.1 Bil
Sector: Financials | Industry: Asset Management & Custody Banks

Trinity Capital (TRIN)


Market Price (2/6/2026): $15.91
Market Cap: $1.1 Bil
Sector: Financials
Industry: Asset Management & Custody Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 24%, Dividend Yield is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 20%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 102%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 47%
Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -169%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -169%
2 Low stock price volatility
Vol 12M is 23%
Key risks
TRIN key risks include [1] potential loan losses from its credit exposure to growth-stage and venture-backed companies, Show more.
3 Megatrend and thematic drivers
Megatrends include Digital & Alternative Assets. Themes include Private Credit.
 
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 24%, Dividend Yield is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 20%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 47%
2 Low stock price volatility
Vol 12M is 23%
3 Megatrend and thematic drivers
Megatrends include Digital & Alternative Assets. Themes include Private Credit.
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 102%
5 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -169%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -169%
6 Key risks
TRIN key risks include [1] potential loan losses from its credit exposure to growth-stage and venture-backed companies, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Trinity Capital (TRIN) stock has gained about 10% since 10/31/2025 because of the following key factors:

1. Transition to Monthly Dividends: Trinity Capital announced on December 17, 2025, its shift from quarterly to monthly dividend distributions starting in January 2026. This change, while maintaining the same total quarterly payout of $0.51 per share, aims to provide more frequent income streams to investors, thereby enhancing its appeal to income-focused shareholders.

2. Record Operational Performance in 2025: On January 13, 2026, Trinity Capital reported a record $2.1 billion in new investment commitments and $1.5 billion in funded investments for the full year 2025. The company also funded $435 million in investments during the fourth quarter of 2025, indicating robust business growth and increased activity.

Show more

Stock Movement Drivers

Fundamental Drivers

The 10.8% change in TRIN stock from 10/31/2025 to 2/5/2026 was primarily driven by a 17.4% change in the company's P/E Multiple.
(LTM values as of)103120252052026Change
Stock Price ($)14.4215.9810.8%
Change Contribution By: 
Total Revenues ($ Mil)2032092.6%
Net Income Margin (%)68.2%68.0%-0.3%
P/E Multiple6.98.017.4%
Shares Outstanding (Mil)6671-7.8%
Cumulative Contribution10.8%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 2/5/2026
ReturnCorrelation
TRIN10.8% 
Market (SPY)-0.7%22.4%
Sector (XLF)1.8%25.9%

Fundamental Drivers

The 15.2% change in TRIN stock from 7/31/2025 to 2/5/2026 was primarily driven by a 18.8% change in the company's P/E Multiple.
(LTM values as of)73120252052026Change
Stock Price ($)13.8715.9815.2%
Change Contribution By: 
Total Revenues ($ Mil)1902099.7%
Net Income Margin (%)67.4%68.0%1.0%
P/E Multiple6.88.018.8%
Shares Outstanding (Mil)6371-12.5%
Cumulative Contribution15.2%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 2/5/2026
ReturnCorrelation
TRIN15.2% 
Market (SPY)7.5%28.4%
Sector (XLF)2.1%31.2%

Fundamental Drivers

The 21.0% change in TRIN stock from 1/31/2025 to 2/5/2026 was primarily driven by a 46.6% change in the company's Total Revenues ($ Mil).
(LTM values as of)13120252052026Change
Stock Price ($)13.2115.9821.0%
Change Contribution By: 
Total Revenues ($ Mil)14220946.6%
Net Income Margin (%)61.4%68.0%10.8%
P/E Multiple8.28.0-2.2%
Shares Outstanding (Mil)5471-23.9%
Cumulative Contribution21.0%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2025 to 2/5/2026
ReturnCorrelation
TRIN21.0% 
Market (SPY)13.6%49.5%
Sector (XLF)4.6%51.1%

Fundamental Drivers

The 84.5% change in TRIN stock from 1/31/2023 to 2/5/2026 was primarily driven by a 229.9% change in the company's Total Revenues ($ Mil).
(LTM values as of)13120232052026Change
Stock Price ($)8.6615.9884.5%
Change Contribution By: 
Total Revenues ($ Mil)63209229.9%
Net Income Margin (%)41.6%68.0%63.5%
P/E Multiple10.98.0-26.1%
Shares Outstanding (Mil)3371-53.7%
Cumulative Contribution84.5%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2023 to 2/5/2026
ReturnCorrelation
TRIN84.5% 
Market (SPY)72.9%41.2%
Sector (XLF)52.4%45.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
TRIN Return27%-27%54%15%16%12%114%
Peers Return18%-13%10%1%11%-11%12%
S&P 500 Return27%-19%24%23%16%1%83%

Monthly Win Rates [3]
TRIN Win Rate67%42%58%67%58%50% 
Peers Win Rate50%35%56%48%46%30% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
TRIN Max Drawdown-8%-35%-0%-6%-3%0% 
Peers Max Drawdown-13%-31%-11%-12%-16%-13% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-1% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTS, SLRC, DHIL, GEG, ZSTK.
[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 2/5/2026 (YTD)

How Low Can It Go

Unique KeyEventTRINS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-49.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven96.4%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days

Compare to VRTS, SLRC, DHIL, GEG, ZSTK

In The Past

Trinity Capital's stock fell -49.1% during the 2022 Inflation Shock from a high on 3/29/2022. A -49.1% loss requires a 96.4% 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 Trinity Capital (TRIN)

Trinity Capital Inc. is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc. was founded in 2019 is based in Phoenix, Arizona with additional offices in Lutherville-Timonium, Maryland, San Diego, California and Austin, Texas.

AI Analysis | Feedback

  • The Silicon Valley Bank (SVB) for venture debt, providing financing to high-growth, venture-backed companies.
  • Similar to Ares Capital (ARCC), but singularly focused on providing debt and equity to venture-backed technology and life sciences companies.

AI Analysis | Feedback

  • Venture Debt: Provides growth capital to venture-backed companies, typically structured as senior or subordinated loans with warrant coverage.
  • Equity Investments: Makes direct equity investments in the common or preferred stock of high-growth, privately held companies.

AI Analysis | Feedback

Trinity Capital Inc. (TRIN) is a Business Development Company (BDC) that primarily provides debt and equity capital to high-growth, venture-backed companies, predominantly in the technology, life sciences, and other innovation sectors. Therefore, its "customers" are the companies it invests in or lends to.

Given the nature of its business, Trinity Capital has a diversified portfolio of investments rather than a few traditional "major customers" in the sense of repeat buyers of a product or service. However, some prominent companies that have been part of its investment portfolio include:

  • Instacart (Maplebear Inc.) - Trinity Capital provided venture debt to Instacart during its growth phase. Instacart is now a public company. (NASDAQ: CART)
  • Arcadia - A leading climate technology company focused on clean energy and data. (Private)
  • ServiceTitan - A comprehensive software platform for home service businesses. (Private)

These examples illustrate Trinity Capital's focus on innovative, venture-backed companies, which typically remain private during TRIN's investment period, with some eventually going public.

AI Analysis | Feedback

  • U.S. Bancorp (USB)
  • B. Riley Financial, Inc. (RILY)
  • Raymond James Financial, Inc. (RJF)

AI Analysis | Feedback

Kyle Brown, Chief Executive Officer

Kyle Brown assumed the role of Chief Executive Officer of Trinity Capital on January 1, 2024, and has served as President, Chief Investment Officer, and a member of the Board of Directors since 2019. He was an original member of Trinity Capital's Investment Committee and a Managing Partner of its predecessor funds since 2015. Before joining Trinity in 2015, Mr. Brown founded and managed Sharp Equity, LLC and Brown Equity, LLC, companies focused on providing equity and bridge debt financing in the real estate sector, where they managed multiple private offerings and deployed over $250 million in capital. His previous experience also includes serving as general partner at Point Financial Capital Partners, a venture leasing fund, and as President and Chief Financial Officer of InvestLinc Financial Services, an early-stage private equity fund and consulting firm. Additionally, he was a partner at Cornerstone Equity Partners, a private equity fund.

Michael Testa, Chief Financial Officer

Michael Testa serves as the Chief Financial Officer and Treasurer of Trinity Capital. He brings over 20 years of finance and accounting experience, having previously worked at both a credit-focused asset manager and a large global accounting firm.

Gerry Harder, Chief Operating Officer

Gerry Harder is the Chief Operating Officer at Trinity Capital. He joined the company in 2016 and was promoted to Chief Operating Officer in March 2022. Prior to this role, he served as Senior Vice President, Chief Credit Officer since August 2019, overseeing the company's credit performance. Mr. Harder has over 30 years of experience working with venture-backed technology companies, providing extensive operational expertise.

Ron Kundich, Chief Credit Officer

Ron Kundich serves as the Chief Credit Officer at Trinity Capital. He joined Trinity in 2017 and has been a member of the Investment Committee and Senior Vice President of Loan Originations since August 2019. Before Trinity, Mr. Kundich co-founded and served as Regional Manager and Managing Director of Square 1 Bank's Silicon Valley office, where he led the team in providing venture debt and banking solutions to technology and life science companies. He possesses over 25 years of experience supporting venture-backed companies, including roles at Silicon Valley Bank and Imperial Bank.

Sarah Stanton, General Counsel, Chief Compliance Officer and Secretary

Sarah Stanton holds the titles of General Counsel, Chief Compliance Officer, and Secretary at Trinity Capital.

AI Analysis | Feedback

Key Risks to Trinity Capital (TRIN)

  1. Credit Quality and Potential Loan Losses: As a Business Development Company (BDC) specializing in debt and equipment financing for growth-stage and venture-backed companies, Trinity Capital faces significant exposure to credit risk. The primary concern for any lender is the quality of its loan portfolio and the potential for non-accruals or defaults. Investors are advised to closely monitor the non-accrual rate, which indicates loans where the company is no longer recognizing interest income. Broader private credit turmoil, including bankruptcies or challenges in venture funding, could lead to increased loan losses and negatively impact the company's investment portfolio.
  2. Interest Rate Sensitivity: Trinity Capital's business is significantly impacted by interest rate fluctuations. A substantial portion of its debt investment portfolio, approximately 82.4% as of September 30, 2025, is at floating interest rates, while 40.6% of its borrowing portfolio is also floating rate. This means that while rising interest rates can increase the company's investment income, a future environment of declining rates would pressure the yield on its floating-rate portfolio, potentially leading to a decrease in net investment income.
  3. Sustainability of Dividend Payouts: Trinity Capital's high dividend payout ratio is a notable concern for investors. While the company's Net Investment Income (NII) has historically covered its quarterly distributions, the high payout ratio, noted as 91% in Q3 2025, raises questions about the long-term sustainability of these dividends, especially if NII declines. A deteriorating dividend coverage ratio due to falling portfolio income could challenge the company's ability to maintain its dividend requirements, leaving a limited buffer.

AI Analysis | Feedback

A clear emerging threat for Trinity Capital (TRIN) is the sustained downturn in venture capital funding and exit activity. The global venture capital market has experienced a significant slowdown since 2022, with reduced deal volume, lower valuations, and a substantial decrease in initial public offerings (IPOs) and M&A exits for growth-stage companies. As a Business Development Company specializing in venture debt for venture-backed companies, TRIN's business model is directly impacted by this shift. A constricted venture funding environment limits the pipeline for new investment opportunities, increases the risk of defaults or restructuring for existing portfolio companies that struggle to secure follow-on funding, and reduces the opportunities for portfolio companies to achieve liquidity events necessary for debt repayment and equity realization. This represents a fundamental recalibration of the market TRIN operates in, posing a significant challenge to its ability to originate new deals and ensure the performance of its existing portfolio.

AI Analysis | Feedback

Trinity Capital (TRIN) operates primarily in venture debt financing and equipment financing, with additional business verticals including asset-based lending, life sciences, and sponsor finance.

Venture Debt Market

  • The global venture debt market expanded to a record aggregate deal value of $83.4 billion in 2024.
  • In the United States, the venture debt market reached $53.3 billion in investments in 2024.
  • The U.S. venture debt market is projected to reach $27.83 billion in 2025, with traditional venture debt accounting for approximately $23.94 billion of that total.

Equipment Financing Market

  • The equipment finance industry in the U.S. expanded to an estimated $1.34 trillion in 2023, representing 57.7% of the $2.3 trillion in equipment and software investment in 2023.
  • Globally, the equipment finance services market was valued at $1.2 trillion in 2022 and is projected to reach $3.1 trillion by 2032, growing at a CAGR of 9.7% from 2023 to 2032.

AI Analysis | Feedback

Trinity Capital (TRIN) is expected to drive future revenue growth over the next 2-3 years through several key strategies: * Increased Investment Volume and Portfolio Growth: Trinity Capital consistently highlights a robust investment pipeline and significant unfunded commitments. In Q3 2025, the company funded $471 million in investments and reported $1.2 billion in total unfunded commitments, indicating a substantial backlog for future deployment. Growth in the deployment of capital to venture-backed companies directly translates to increased interest income, which is a primary revenue stream for Trinity Capital. * Expansion of Net Interest Income from a Larger Loan and Investment Portfolio: A core driver of revenue growth will be the expansion of net interest income, stemming from a larger overall portfolio of loans and investments. This is supported by the company's Q3 2025 total investment income of $75.6 million, a 22.3% increase year-over-year. * Growth of the Asset Management Business: Trinity Capital is actively growing its asset management business, with plans for new funds, including a third SBIC (Small Business Investment Company) fund. This third SBIC fund is expected to add over $260 million of capacity, generating new income. * Strategic Initiatives and Partnerships, including Market Expansions: The company emphasizes strategic initiatives and partnerships to source deals and expand its network. This includes targeting underserved markets and sectors within the venture capital ecosystem, alongside continuously refining and expanding its investment products to meet evolving market needs. These efforts contribute to broader market penetration and diversification of its revenue base. * Realization of Upside from Warrants and Equity Positions: Trinity Capital holds 210 warrant positions in 133 portfolio companies. These warrants have the potential to provide incremental upside to shareholders as IPO and M&A activity continues to rebound, contributing to other income.

AI Analysis | Feedback

Share Repurchases

  • Trinity Capital authorized a $30 million stock repurchase program in November 2024, effective until November 7, 2025. As of the announcement, the company had not yet been active in this program.
  • A previous stock repurchase program of up to $25 million was authorized in November 2022, expiring by November 11, 2023. The company also had not yet been active in repurchases under this program as of its announcement.

Share Issuance

  • During the third quarter ended September 30, 2025, Trinity Capital issued approximately 5.32 million shares of common stock through its equity ATM offering program, raising $83.0 million in net proceeds.
  • From October 1 to November 3, 2025, the company issued an additional 663,974 shares of common stock for $9.9 million in net proceeds via its equity ATM offering program.
  • In the first quarter ended March 31, 2025, Trinity utilized its equity ATM offering program to sell approximately 1.98 million shares of its common stock, generating $30.5 million in net proceeds.

Outbound Investments

  • For the first three quarters of 2025, Trinity Capital originated $1.5 billion in new commitments and funded approximately $1.1 billion in investments, which included $825 million in secured loans, $197 million in equipment financings, and $35 million in warrant and equity investments.
  • In the third quarter of 2025 alone, Trinity Capital originated $773 million of new commitments and funded approximately $471 million of investments, with $272 million directed to 17 new portfolio companies and $176 million to 20 existing portfolio companies.
  • Recent specific investments include a $130 million growth capital commitment to Candel Therapeutics in October 2025 and a $15 million growth capital commitment to Kard in October 2025.

Trade Ideas

Select ideas related to TRIN.

Unique Key

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

TRINVRTSSLRCDHILGEGZSTKMedian
NameTrinity .Virtus I.SLR Inve.Diamond .Great ElmZeroStack 
Mkt Price15.98150.9615.02170.762.068.3715.50
Mkt Cap1.11.00.80.50.1-0.8
Rev LTM2098741001522372126
Op Inc LTM-179-44-12-1516
FCF LTM-35370104-353-5-1
FCF 3Y Avg-27912513816-9-104
CFO LTM-35277104-323-5-1
CFO 3Y Avg-27813213817-9-104

Growth & Margins

TRINVRTSSLRCDHILGEGZSTKMedian
NameTrinity .Virtus I.SLR Inve.Diamond .Great ElmZeroStack 
Rev Chg LTM46.6%-1.2%-6.2%2.9%17.8%-5.0%0.9%
Rev Chg 3Y Avg49.2%-2.4%159.6%-2.1%56.1%147.8%52.6%
Rev Chg Q13.3%-4.8%8.2%-2.0%-14.1%74.1%3.1%
QoQ Delta Rev Chg LTM2.6%-1.2%2.1%-0.6%-2.1%22.6%0.7%
Op Mgn LTM-20.5%-28.8%-53.0%-20.3%0.1%
Op Mgn 3Y Avg-18.9%-26.5%-63.0%-32.8%-6.9%
QoQ Delta Op Mgn LTM--0.1%--0.2%-10.9%-4.2%-2.2%
CFO/Rev LTM-168.6%8.9%104.5%-21.2%12.2%-7.0%0.9%
CFO/Rev 3Y Avg-170.0%15.6%142.9%11.7%-76.7%-21.6%-4.9%
FCF/Rev LTM-168.9%8.0%104.5%-23.1%12.2%-7.2%0.4%
FCF/Rev 3Y Avg-171.0%14.7%142.9%11.0%-76.8%-23.0%-6.0%

Valuation

TRINVRTSSLRCDHILGEGZSTKMedian
NameTrinity .Virtus I.SLR Inve.Diamond .Great ElmZeroStack 
Mkt Cap1.11.00.80.50.1-0.8
P/S5.51.28.23.12.9-3.1
P/EBIT-2.8-10.6-7.3-2.8
P/E8.07.59.19.9-4.8-8.0
P/CFO-3.213.27.9-14.423.7-7.9
Total Yield23.6%19.6%21.9%13.6%-21.0%-19.6%
Dividend Yield11.2%6.3%10.9%3.5%0.0%-6.3%
FCF Yield 3Y Avg-32.0%8.2%16.2%3.6%-16.1%-3.6%
D/E1.02.51.40.01.0-1.0
Net D/E1.02.00.9-0.1-0.6-0.9

Returns

TRINVRTSSLRCDHILGEGZSTKMedian
NameTrinity .Virtus I.SLR Inve.Diamond .Great ElmZeroStack 
1M Rtn4.4%-9.6%-2.5%0.5%-16.9%-27.1%-6.1%
3M Rtn16.0%-5.9%1.7%35.8%-16.6%-27.1%-2.1%
6M Rtn11.6%-16.9%-2.8%27.9%-5.5%-27.1%-4.2%
12M Rtn15.8%-18.1%-1.1%23.1%12.9%-27.1%5.9%
3Y Rtn87.9%-20.8%30.4%5.9%-2.8%-27.1%1.5%
1M Excs Rtn6.5%-7.5%-0.4%2.6%-14.8%-25.0%-4.0%
3M Excs Rtn9.8%-4.6%-0.1%39.8%-17.0%-27.5%-2.3%
6M Excs Rtn5.5%-25.5%-11.0%20.0%-11.8%-34.2%-11.4%
12M Excs Rtn7.0%-30.6%-13.9%11.7%1.2%-39.7%-6.3%
3Y Excs Rtn17.8%-86.9%-35.6%-61.6%-72.7%-93.9%-67.2%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Single Segment1694417541 
Total1694417541 


Assets by Segment
$ Mil20242023202220212020
Single Segment    6
Total    6


Price Behavior

Price Behavior
Market Price$15.98 
Market Cap ($ Bil)1.1 
First Trading Date01/29/2021 
Distance from 52W High-6.3% 
   50 Days200 Days
DMA Price$15.19$14.18
DMA Trendupup
Distance from DMA5.2%12.7%
 3M1YR
Volatility19.8%22.7%
Downside Capture10.6460.82
Upside Capture97.0868.05
Correlation (SPY)26.7%49.3%
TRIN Betas & Captures as of 1/31/2026

 1M2M3M6M1Y3Y
Beta0.900.380.420.500.590.65
Up Beta1.291.000.740.700.440.57
Down Beta0.700.080.370.380.690.69
Up Capture250%148%84%67%65%46%
Bmk +ve Days11223471142430
Stock +ve Days12233569126390
Down Capture-71%-67%-7%30%67%84%
Bmk -ve Days9192754109321
Stock -ve Days7172454121342

[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 TRIN
TRIN19.6%22.9%0.71-
Sector ETF (XLF)5.3%19.1%0.1451.3%
Equity (SPY)13.6%19.3%0.5449.5%
Gold (GLD)69.7%24.7%2.118.2%
Commodities (DBC)7.1%16.6%0.2426.7%
Real Estate (VNQ)4.4%16.5%0.0944.9%
Bitcoin (BTCUSD)-26.6%40.5%-0.6616.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with TRIN
TRIN16.1%27.1%0.56-
Sector ETF (XLF)14.9%18.7%0.6536.9%
Equity (SPY)14.4%17.0%0.6738.9%
Gold (GLD)20.8%16.9%1.017.4%
Commodities (DBC)11.7%18.9%0.5010.7%
Real Estate (VNQ)5.2%18.8%0.1835.3%
Bitcoin (BTCUSD)16.0%57.4%0.4917.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with TRIN
TRIN7.7%27.1%0.56-
Sector ETF (XLF)14.1%22.2%0.5836.9%
Equity (SPY)15.5%17.9%0.7438.9%
Gold (GLD)15.4%15.5%0.837.4%
Commodities (DBC)7.9%17.6%0.3710.7%
Real Estate (VNQ)6.0%20.7%0.2635.3%
Bitcoin (BTCUSD)69.0%66.5%1.0817.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date1152026
Short Interest: Shares Quantity2.3 Mil
Short Interest: % Change Since 12312025-7.2%
Average Daily Volume1.2 Mil
Days-to-Cover Short Interest2
Basic Shares Quantity71.5 Mil
Short % of Basic Shares3.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/07/202510-Q
12/31/202402/26/202510-K
09/30/202410/30/202410-Q
06/30/202408/07/202410-Q
03/31/202405/01/202410-Q
12/31/202303/06/202410-K
09/30/202311/01/202310-Q
06/30/202308/02/202310-Q
03/31/202305/04/202310-Q
12/31/202203/02/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/09/202210-Q
12/31/202103/03/202210-K