Positioning no disclosures inside 60 days, left as found
Options put/call open interest 3.50, read 2026-11-01
Ethical does not pass the values gate
Price4.67 USD
Fair value6.70
Ethical score30.0/100
Value readUndervaluedas of 4 Nov 2026
Our investment reviews on this name
2026-10-22Read Markdown4.42+5.7% to today Distribution gives way to Markdown after a 6% slide in 7 days
2026-10-15Read Distribution4.70-0.6% to today ✓Markdown gives way to Distribution after a 16% slide in 4 weeks
2026-09-15Read Markdown5.57-16.2% to today ✓Markup gives way to Markdown
2026-08-15Read Markup5.57-16.2% to today Distribution gives way to Markup with volume flow in agreement
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
TriplePoint Venture Growth BDC Corp holds its Markdown at $4.67. The statistical read favours the sellers, held for 3 days.
As held on the ledger · 2026-11-04
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 3 days
Price at the screen
$4.67
Valuation
4.62 trailing · 5.90 forward price to earnings
Values screen
FAIL· score 30.0
Beta
1.33
The Workings
Five Screens, Shown in Full
Does not pass. Excluded industry: Asset Management
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Excluded industry: Asset Management
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
TriplePoint Venture Growth BDC does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Get an email when TPVG's ethical verdict changes
Today TPVG does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 4 Nov 2026: it trades at roughly a 33% discount to our $6.70 fair value, none competitive moat, 1.40% revenue growth.
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. A 30.3% discount to the base estimate.
Where our models see it going: fair-value estimate $6.70, with a range of $6.58 to $9.00, dated to the 2026-11-04 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Why it stands out
A 1%-growth business trading at just 5.9x forward earnings, with a none competitive moat. That is a 33% discount to our $6.70 fair value: the market is pricing it cautiously while the fundamentals argue otherwise. 3 analysts rate it Hold with a $6.00 average target, about 28% above the screened price.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
TPVG trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markdown$4.67+8.9%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 8.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (3 analysts) rates it none, with a mean price target of $6.
2026-10-29Markdown$4.29-2.9%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (3 analysts) rates it none, with a mean price target of $6.
2026-10-22Markdown · changed$4.42-6.0%Entry 8
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (3 analysts) rates it none, with a mean price target of $6.
2026-10-15Distribution · changed$4.70-3.1%Entry 7
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 3.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (3 analysts) rates it none, with a mean price target of $6.
2026-10-02Markdown$4.85-12.9%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 12.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (3 analysts) rates it none, with a mean price target of $6. Since the last review it its composite score rose.
2026-09-15Markdown · changed$5.57+0.0%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (3 analysts) rates it none, with a mean price target of $6.
2026-08-15Markup · changed$5.57+0.0%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (3 analysts) rates it none, with a mean price target of $6.
2026-07-18Distribution$5.57+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (3 analysts) rates it none, with a mean price target of $6.
2026-07-03Distribution$5.57+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$5.57Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
What Holding Actually Paid · Price Plus Dividends
If $1,000 had been placed · historical, not a promise
Period
Price then
Price return
Divs per share
$1,000 became
Total return
1 month
$5.62
-1.2%
·
$988
-1.2%
2 months
$5.12
+8.5%
·
$1,085
+8.5%
3 months
$4.94
+12.4%
$0.23
$1,170
+17.0%
6 months
$6.09
-8.8%
$0.48
$991
-0.9%
1 year
$6.21
-10.6%
$1.01
$1,057
+5.7%
2 years
$6.84
-18.8%
$2.31
$1,149
+14.9%
3 years
$7.29
-23.8%
$3.91
$1,299
+29.9%
5 years
$8.35
-33.4%
$6.94
$1,497
+49.7%
Historical returns from market close data. Past performance does not guarantee future results.
The Ledger's Promise
This entry now belongs to the ledger. Whatever TPVG does next, these words stay.
TriplePoint Venture Growth BDC Corp · TPVG · Markdown · $4.67
Recorded 2026-11-04 · before the outcome · scored mechanically