TriplePoint Venture Growth BDC

TPVG

Market cap $218M

TriplePoint Venture Growth faces ongoing portfolio contraction, income declines, and elevated non-accruals, resulting in severe NAV erosion and two dividend cuts since 2024. TPVG's non-accrual ratio remains high at 2.5%, far above tech BDC peers like HTGC (0.1%) and TRIN (1.1%), signaling continued asset quality concerns. Shares trade at a discount (0.65X NAV) versus Hercules Capital (1.3X) and Trinity Capital (1.3X), reflecting persistent loan under-performance and market skepticism.

I highlight the top ten ReFa/Ro dividend dogs for April 2026, all offering dividends from $1,000 invested that exceed their share price. Analyst 1-year targets project 23.15% to 71.69% net gains for these high-yield stocks by April 2027, with an average estimated gain of 46.15%. Five lowest-priced ReFa/Ro dogs are expected to outperform, delivering 21.96% higher gains versus the full top ten, per analyst targets.

More than 1,500 stocks have reported earnings since the current season began in mid-April, and the average stock that has reported has seen an average absolute one-day share price reaction of roughly 7%. The last time we saw earnings vol spike was during the Financial Crisis bear market, when stocks were tanking. This time around, we're seeing earnings vol increase during a strong AI-driven bull market. Tech stocks are seeing record earnings day volatility as investors and traders presumably make snap judgements about AI's future impact on the bottom line.

These shares offer big yields but far more stability than investors expect. Recent market downturns enabled attractive entry points for big yields with capital gains. It's best to prepare for these opportunities in advance. Because we were already evaluating these shares regularly, we were able to jump on opportunities during the big dip.

I focus on 66 top-yield, low-priced 'Dividend Dogs,' with 22 meeting ideal dividend standards of safety supported by free cash flow. Analyst forecasts project 29.51% to 66.09% net gains for the top ten attractive low-priced dogs by May 2027, with average net gain estimated at 44.78%. All top-ten yielders are currently 'fair-priced,' with their annual dividend from $1K invested meeting or exceeding their share price.

With the S&P 500 median P/E at 18.5x, we are finding 10x FFO gems like EPR that the market has simply ignored. EPR Properties' Growth Mode: Management just hiked FFOAA guidance to a $5.45 midpoint, marking the fund's official return to aggressive growth. TPVG Stabilization: TriplePoint Venture Growth BDC is holding its ground in the VC niche, with credit quality finally steadying after a volatile few years.

TriplePoint Venture Growth BDC remains a hold, trading at a deep discount to NAV amid sector headwinds. TPVG's 16.4% dividend yield is thinly covered by net investment income, with $0.23 per share NII barely supporting the $0.23 dividend. Heavy software sector exposure, declining portfolio yield, and limited new investments pose risks to earnings and NAV stability through 2026.

TriplePoint Venture Growth BDC Corp. (TPVG) Q1 2026 Earnings Call Transcript

TriplePoint Venture Growth (TPVG) came out with quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.27 per share a year ago.

MENLO PARK, Calif.--(BUSINESS WIRE)--TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company,” “TPVG,” “we,” “us,” or “our”), a leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, today announced its financial results for the first quarter ended March 31, 2026 and the declaration by its Board of Directors of its second quarter 2026 regular distribution of $0.23 per share. First Qua.