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9.7% Yield: TriplePoint Venture Growth Sports A High Yield With Low Leverage

Apr. 06, 2021 5:53 AM ETTriplePoint Venture Growth (TPVG)14 Comments


  • TPVG is a technology-focused BDC with a stabilizing NAV and improving portfolio yield.
  • It has plenty of dry powder, and should benefit from the current SPAC merger IPO environment.
  • I also highlight the dividend coverage, valuation, balance sheet, and risks worth considering.
Putting a coin in a gold colored piggy bank at home.
Photo by Guido Mieth/DigitalVision via Getty Images

The BDC sector has made a solid rebound in recent months, and TriplePoint Venture Growth (NYSE:TPVG) is no exception. TPVG has performed well since my last bullish take on it, returning 9.7% based on share price appreciation alone, outpacing

This article was written by

Gen Alpha profile picture

I'm a U.S. based financial writer with an MBA in Finance. I have over 15 years of investment experience, and generally focus on stocks that are more defensive in nature, with a medium to long-term horizon. My goal is to share useful and insightful knowledge and analysis with readers.  Contributing author for Hoya Capital Income Builder. 

Analyst’s Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

This article is for informational purposes and does not constitute as financial advice. Readers are encouraged and expected to perform due diligence and draw their own conclusions prior to making any investment decisions.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (14)

After earnings, any new thoughts? Thx
BartAtTheRanch profile picture
@Peter J McGee

Sold early this morning at 16, and just bought back (15.35). Earnings (like HRZN) are lumpy here, but NII growth as they deploy new money will bring their NII back up. GLTA
oman2004 profile picture
Nice article, thanks. I have a big position in TPVG, it's been great!
tommy SB profile picture
It’s been a winner for me. Thanks for the Article.
Gen Alpha profile picture
@tommy SB thanks, glad you liked it.
BartAtTheRanch profile picture
@Gen Alpha

Thanks for another in your BDC series. Can you remind us which BDCs you actually hold?

Gen Alpha profile picture
@BartAtTheRanch thanks. I'd rather not do that, as this would automatically imply that the ones I own are better than the ones I don't. You may be savvy enough to not take it that way, but it nonetheless carries that undertone.

In short, whether or not I personally own a stock doesn't make it any better or worse. It's all about the fundamentals and the valuation.

Lastly, I do write pieces about why I'm buying any particular stock, and that's more to highlight my rationale versus a "buy it because I own it". Have a good one.
BartAtTheRanch profile picture
@Gen Alpha

Ok, but note that I have found that buying a "toehold" position at first enables me to pay better attention to a stock once I have found a sector I feel I am getting to understand (in this case BDCs). Because of that toehold I pay better attention to the stock and can then choose to buy more when it seems warranted. Note that I have owned well over half of the BDCs on the market today at one time or another.

papaone profile picture
@BartAtTheRanch Check with BDCBUZZ, he does list his holding and transactions..
Retired Investor profile picture
A sign of strength to me is when a BDC can retire debt. TPVY was just called: 5.75% Notes due 7/15/2022 and I don’t believe replaced.
BartAtTheRanch profile picture
@Retired Investor

We think TPVG a reasonably good BDC and own some. But it turns out TPVY was replaced with a privately placed note (to institutional investors).Remember that the ability to leverage (at a reasonable level) is a key advantage of BDCs.

Retired Investor profile picture
@BartAtTheRanch Thanks Bart. Agree and if Private Investor took the eq issue, that sure is a Buy recommendation.
Gen Alpha profile picture
@Retired Investor thanks for stopping by. Have a good one.
I view $TPVG a hold. Pays me $360/quarterly and the share price has risen $2 since buying last year. But, it needs to be watched closely, as I do with all my holdings.
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