Zacks Investment ResearchT3·15d ago
TCPC BlackRock TCP Capital Corp. Common Stock
XNAS 4.08 DelayedStock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
TCPC
$4.08
—
Key stats
$4.08
- 52-Week Range
- $3.08 – $6.25
- YTD
- -26.58%
- IV Rank (30D)
- 26.28
- Straddle Price
- $1.00
- P/C Vol Ratio
- 0.50
- Market Cap
- $0.3B
- Open
- $4.06
- Day Range
- $4.02 – $4.13
- Volume
- 182,907
- Prev Close
- $4.06
Fair Value
+50.0% vs price
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 5.15% |
| Beta vs SPY | 0.84 |
| Cost of Equity (CAPM) | 9.37% (VRP-adj) |
| WACC | 6.40% |
| Volatility Risk Premium | +150.6pp (IV − HV30) |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | +3.0% |
| DCF Horizon | 5 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.03 (applied to P/E, EV/EBITDA, P/S) |
| Free Cash Flow (TTM) | $0.4B |
| Return on Equity (TTM) | 1.8% |
| Book / Price | 160.8% — banking bias active (P/B is primary) |
| Debt / Equity | 1.65 |
| Quality Score | 0/6 — cyclical/struggling (5y DCF) |
| SMA 50 | $4.05 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $4.04 |
| Bollinger Width / SMA20 | 167.6% (drives anchor stability) |
| Net Debt | $0.8B |
| Market Cap | $0B |
Peers used for multiples: ARCC, BXSL, FSK, HTGC, MAIN, OBDC
(filtered from 8 ETF-co-members; sector bias active)
Blended Fair Value
$86.65
Deviation
+50.0%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | $118.03 | 72% | |
| DDM (Gordon) | $12.30 | 0% | |
| Peer P/E | n/a | 0% | median 13.8× · 5 peers |
| Peer EV/EBITDA | n/a | 0% | median 28.6× · 5 peers |
| Peer P/B | $6.17 | 28% | median 0.9× · 6 peers |
| Peer P/S | n/a | 0% | median 5.5× · 6 peers |
| Market Anchor (SMA50) | $4.05 | 0% | stability 0% (BB-width) |
| Options Expected (B-L 30d) | n/a | 0% |
As of 2026-10-22 · updated
About
- Exchange
- XNAS
- Market Cap
- $0.3B
- Employees
- 24,900
- List Date
- 2012-04-04
- CIK
- 0001370755
- Next Earnings
- 2026-11-05 (Pre-Market)
- EPS Forecast
- $0.12 (2 est.)
- Headquarters
- Santa Monica, CA
- Homepage
- https://www.tcpcapital.com
BlackRock TCP Capital Corp is an externally-managed specialty finance company focused on middle-market lending. Its investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It seeks to achieve its investment objective through investments in debt securities of middle-market companies. The group generates returns through a combination of the receipt of contractual interest payments on debt investments and origination and similar fees, and, to a lesser extent, equity appreciation through options, warrants, con…
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 2.34% | -0.37% | 1.53% | -1.03% | 3.83% | -6.67% | -0.06% |
| Feb | 10.34% | 0.66% | -13.02% | -5.72% | -7.35% | -19.80% | -5.82% |
| Mar | 5.41% | 4.76% | -10.43% | -1.14% | -2.55% | -12.06% | -2.67% |
| Apr | 3.98% | -4.60% | -2.62% | -0.98% | -15.03% | 22.03% | 0.46% |
| May | 1.57% | 0.00% | 4.02% | 6.33% | 16.15% | -12.30% | 2.63% |
| Jun | -7.06% | -7.46% | 3.71% | -5.59% | -1.53% | -14.94% | -5.48% |
| Jul | 2.07% | 0.70% | 9.82% | -2.58% | -7.24% | -6.20% | -0.57% |
| Aug | 1.78% | 4.15% | 2.49% | -13.33% | 1.12% | 23.44% | 3.28% |
| Sep | -4.71% | -18.43% | -6.16% | -8.50% | -13.04% | -1.96% | -8.80% |
| Oct | 2.72% | 7.06% | -6.00% | -1.72% | -7.04% | 1.36%* | -0.60% |
| Nov | -6.51% | 11.60% | 11.63% | 17.62% | 6.57% | -- | 8.18% |
| Dec | 2.04% | -2.12% | -4.07% | -6.34% | -9.44% | -- | -3.99% |
| Total | 13.34% | -7.20% | -11.65% | -23.30% | -33.33% | -31.06% | -15.53% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $4.04
SMA 50: $4.05
SMA 200: $4.06
Current: $4.08
EMA 12: $4.07
EMA 26: $4.04
MACD: 0.0290 | Signal: 0.0036
BULLISH
ADX (14): 15.61
RANGE
+DI: 24.82
−DI: 18.52
Momentum Oscillators
RSI (14): 53.57
NEUTRAL
Stoch %K: 56.89
Stoch %D: 61.33
Williams %R: -41.33
Volume & Volatility
BB Upper: $4.18
BB Lower: $3.90
NEUTRAL
OBV: -41,597,043
Vol SMA 20: 684,058
Vol ROC: -58.08%
ATR: $0.10
True Range: $0.11
HV 20: 23.7%
HV 30: 26.5%
HV 60: 37.7%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
LLM Stock Analysis Report - TCPC
Executive Summary
Overall assessment: NEUTRAL (6/10) Key drivers: Recent news headlines highlighting investor losses, technical indicators indicating a potential consolidation phase. Primary risks: Market volatility, regulatory issues. Investment thesis: TCPC's stock price is likely to continue consolidating in the near term due to the recent negative news sentiment and options market pricing. Recent news sentiment impact: The negative news headlines have led to a significant decrease in investor confidence, which may result in further consolidation or potentially even a technical breakdown.
Technical Analysis
Trend Direction: Short-term (1-4 weeks): Consolidation phase; Medium-term (1-3 months): Sideways movement; Long-term (3-12 months): Uptrend. Support/Resistance Levels: SMA 20: $4.11, Lower Bollinger Band: $3.69. Momentum Signals: * RSI interpretation: Neutral zone (30-70) - no clear buy/sell signal. * MACD signal: Bullish momentum with a histogram above the zero line. * Bollinger Bands position: Squeeze.
News & Sentiment Analysis
Recent Headlines Summary: Recent news headlines have been overwhelmingly negative, highlighting investor losses and lawsuits related to TCPC's stock performance. Sentiment Assessment: Aggregate news sentiment is strongly NEGATIVE (average of 0.83). Catalyst Identification: Upcoming events: Earnings report due in the near term, regulatory updates potentially impacting the financial sector. Market Narrative: The recent negative news headlines have created a sense of caution among investors, leading to consolidation and potentially even a technical breakdown.
Risk & Volatility Assessment
Beta Interpretation: Beta is relatively low at 0.77 compared to the broader market (SPY), indicating less volatility. Volatility Regime: Current volatility levels are moderate, with an IV rank of 83.9%. Options Market Signals: Options market pricing a $0.50 move by expiration, indicating moderate volatility and uncertainty.
Market Context & Positioning
Sector Performance: TCPC's stock is performing relatively poorly compared to the broader financial sector. Institutional Activity: Volume patterns suggest institutional interest in the options market but not necessarily the underlying stock. Correlation Analysis: Correlation with SPY is relatively low at 0.29, indicating less dependence on broader market movements.
Key Levels & Action Items
Critical Price Levels: Support: SMA 20 ($4.11), Resistance: Upper Bollinger Band ($4.53). Breakout/Breakdown Levels: Breakout above $4.53 or breakdown below $3.69 could trigger significant price movements. Time-Sensitive Catalysts: Upcoming earnings report, regulatory updates. Risk Management: Consider stop-loss levels around $4.00 and position sizing considerations to manage risk.
This comprehensive analysis provides an in-depth look at TCPC's stock performance, recent news sentiment, and technical indicators. The overall assessment is NEUTRAL with a confidence level of 6/10 due to the recent negative news headlines and potential for consolidation or even a technical breakdown.
Generated
News
All TCPC news →
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Earnings History
15 of 18 under expected move
Avg Expected Move
12.28%
Avg Actual Move
4.56%
| Earnings Date | Timing | Expected Move | Actual Move | Ratio | Outcome |
|---|---|---|---|---|---|
| 2021-05-05 | Pre-Market | 0.83% | 0.56% | 0.67x | Within |
| 2021-08-02 | Pre-Market | 1.05% | 1.61% | 1.53x | Exceeded |
| 2021-11-03 | Pre-Market | 2.86% | 0.21% | 0.07x | Within |
| 2023-02-28 | Pre-Market | 5.76% | 10.04% | 1.74x | Exceeded |
| 2023-05-04 | Pre-Market | 6.33% | 1.73% | 0.27x | Within |
| 2023-08-03 | Pre-Market | 6.05% | 2.07% | 0.34x | Within |
| 2023-11-02 | Pre-Market | 7.69% | 5.07% | 0.66x | Within |
| 2024-02-29 | Pre-Market | 10.84% | 3.94% | 0.36x | Within |
| 2024-05-01 | Pre-Market | 4.76% | 3.37% | 0.71x | Within |
| 2024-08-07 | Pre-Market | 3.02% | 8.84% | 2.93x | Exceeded |
| 2024-11-06 | After-Close | 53.22% | 1.87% | 0.04x | Within |
| 2025-02-27 | Pre-Market | 11.78% | 9.64% | 0.82x | Within |
| 2025-05-08 | Pre-Market | 28.74% | 7.41% | 0.26x | Within |
| 2025-08-07 | Pre-Market | 5.21% | 3.61% | 0.69x | Within |
| 2025-11-06 | After-Close | 15.14% | 1.38% | 0.09x | Within |
| 2026-02-27 | Pre-Market | 11.64% | 9.31% | 0.80x | Within |
| 2026-05-07 | Pre-Market | 15.48% | 0.00% | 0.00x | Within |
| 2026-08-06 | Pre-Market | 30.71% | 11.43% | 0.37x | Within |
Earnings calendar: this week’s reports with expected vs actual moves →
TCPC Options Activity & IV Rank
TCPC IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 56.7%
7-DTE IV: —
Expected Move: $1.00
7-DTE Move: $1.00
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 8
Put Volume: 4
P/C Volume: 0.5
BULLISH
Call OI: 2,398
Put OI: 454
P/C OI: 0.189
Total OI: 2,852
ATM Options Pricing
ATM Call: $0.03
ATM Put: $0.97
Call %: 0.6%
Put %: 23.9%
Chain Summary
Chain Volume: 464
Chain OI: 10,989
Last Updated: 10/22/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 67th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
67%
vs own history
GEX tilt
+0.66
OI-weighted, today
Vanna tilt
+0.53
δ-sensitivity to IV
Charm tilt
-0.89
δ-decay vs time
Vanna tilt +0.53: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.89: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 5 ATM contracts, 3k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
No data
30 DTE / 10d
—
—
pts
EXTREME
ATM 48.5% / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)26.3MediumOct 22
Straddle Price (30 DTE)$1.00Oct 22
Beta Analysis
Risk Metrics
Beta: 0.8853
Alpha: -38.42%
Correlation: 0.2902
R-Squared: 8.4%
Stock Volatility: 38.9%
Market Volatility: 12.8%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Moderate volatility - stock generally follows market
Moderate volatility - stock generally follows market
Beta & Alpha Over Time
TCPC Institutional Ownership (13F)
Latest filings — 2026-09-30
? 13F Guide
Diluted shares outstanding: 84,568,318 (as of 2026-06-30)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
1 filers$39.98K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Simplex Trading, LLC Custodian | $39.98K | 100.00% | 2026-06-30 |
5 filers$450.68K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Wolverine Trading, LLC Custodian | $197.68K | 43.86% | 2025-09-30 |
| 2 | Greenland Capital Management LP | $168.00K | 37.28% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $46.03K | 10.21% | 2026-06-30 |
| 4 | Jane Street Group, LLC Custodian | $36.29K | 8.05% | 2026-06-30 |
| 5 | Simplex Trading, LLC Custodian | $2.69K | 0.60% | 2026-06-30 |
TCPC Insider Trading (Form 4)
Latest: 2026-03-17Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-03-17 | Patrick Wolfe | Chief Operating Officer | Buy (P) | +8,925 | $3.65 | $32.5K | EDGAR |
| 2026-03-10 | Jason Mehring | President | Buy (P) | +6,500 | $3.86 | $25.1K | EDGAR |
| 2026-03-10 | Erik L. Cuellar | CFO | Buy (P) | +1,750 | $3.86 | $6.8K | EDGAR |
| 2026-03-10 | August Daniel Worrell | Co-Chief Investment Officer | Buy (P) | +80,000 | $3.82 | $305.6K | EDGAR |
| 2026-02-03 | Jason Mehring | President | Mixed | — | $5.18 | -$29.0K | EDGAR |
| 2026-02-03 | August Daniel Worrell | Co-Chief Investment Officer | Mixed | — | $5.18 | -$62.1K | EDGAR |
| 2026-02-03 | Patrick Wolfe | Chief Operating Officer | Mixed | — | $5.18 | -$31.8K | EDGAR |
| 2025-05-13 | Karen L Leets | Director | Buy (P) | +3,300 | $7.55 | $24.9K | EDGAR |
| 2025-03-21 | Philip M Tseng | Director and CEO | Buy (P) | +10,000 | $7.74 | $77.4K | EDGAR |
| 2025-03-17 | Patrick Wolfe | Chief Operating Officer | Buy (P) | +6,100 | $8.12 | $49.5K | EDGAR |
| 2025-03-13 | August Daniel Worrell | Co-Chief Investment Officer | Buy (P) | +10,000 | $8.06 | $80.6K | EDGAR |
| 2025-03-13 | Jason Mehring | President | Buy (P) | +2,400 | $8.13 | $19.5K | EDGAR |
| 2025-03-07 | Eric John Draut | Director | Buy (P) | +1,468 | $8.31 | $12.2K | EDGAR |
| 2025-02-06 | Jason Mehring | President | Mixed | — | — | EDGAR | |
| 2025-02-06 | August Daniel Worrell | Co-Chief Investment Officer | Exer (M) | −16,978 RSU | — | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
TCPC Insider Holdings
7 insiders · @ $4.08
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | August Daniel Worrell | Co-Chief Investment Officer | 113,500 | $463.6K | $522.7K | 5 | 2026-03-10 |
| 2 | Eric John Draut | Director | 57,000 | $232.8K | $210.0K | 15 | 2025-03-07 |
| 3 | Philip M Tseng | Director and CEO | 38,587 | $157.6K | $213.8K | 2 | 2025-03-21 |
| 4 | Jason Mehring | President | 29,208 | $119.3K | $86.5K | 5 | 2026-03-10 |
| 5 | Patrick Wolfe | Chief Operating Officer | 16,785 | $68.6K | $82.0K | 4 | 2026-03-17 |
| 6 | Karen L Leets | Director | 7,680 | $31.4K | $75.2K | 2 | 2025-05-13 |
| 7 | Erik L. Cuellar | CFO | 2,000 | $8.2K | $10.2K | 2 | 2026-03-10 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
TCPC Board & Officers
As of SEC filings through Mar 17, 2026Directors 6
- Eric John Draut · since Feb 1, 2011
- Andrea Petro · since Aug 4, 2020
- Karen L Leets · since Oct 27, 2022
- John R Baron · since Mar 18, 2024
- Maureen K Usifer · since Mar 18, 2024
- Philip M Tseng · listed since Sep 2024
Officers 5
- Jason Mehring · President · listed since Nov 2024
- Erik L. Cuellar · CFO · since Jun 3, 2021
- Patrick Wolfe · Chief Operating Officer · since Nov 6, 2024
- August Daniel Worrell · Co-Chief Investment Officer · since Nov 6, 2024
- Charles Park · Cco · since Feb 24, 2021
Changes in the last 10 years (21)
| Jul 15, 2025 | The company announced the departure of Ariel Tiffany Hazzard as Chief Compliance Officer in an SEC filing |
| Nov 29, 2024 | Jason Mehring listed as President (previously Chief Operating Officer) in SEC filings |
| Nov 6, 2024 | Patrick Wolfe became Chief Operating Officer |
| Nov 6, 2024 | August Daniel Worrell became Co-Chief Investment Officer |
| Sep 10, 2024 | Philip M Tseng first listed as a director in an SEC filing |
| May 8, 2024 | Jason Mehring became Chief Operating Officer |
| May 1, 2024 | The company announced the departure of Nik Singhal as Chief Operating Officer in an SEC filing |
| Apr 24, 2024 | Ariel Tiffany Hazzard became Chief Compliance Officer |
| Mar 20, 2024 | Rajneesh Vig listed as CEO and Chairman of the Board (previously President and COO) in SEC filings |
| Mar 18, 2024 | Nik Singhal became Chief Operating Officer |
| Mar 18, 2024 | Maureen K Usifer became a director |
| Mar 18, 2024 | John R Baron became a director |
| Oct 27, 2022 | Karen L Leets became a director |
| Aug 5, 2021 | Philip M Tseng became Chief Operating Officer |
| Jun 3, 2021 | Erik L. Cuellar became CFO |
| Feb 24, 2021 | Charles Park became Cco |
| Aug 4, 2020 | Andrea Petro became a director |
| Sep 6, 2019 | Michael E Leitner first listed as Authorized Person in an SEC filing |
| Nov 16, 2018 | Paul L Davis listed as CFO (previously CFO of Issuer and Advisor) in SEC filings |
| Aug 1, 2018 | Karyn Leigh Williams became a director |
| Mar 9, 2017 | Kathleen A Corbet became a director |
Not reported recently (10)
- Rajneesh Vig · Last reported as a director in an SEC filing dated Sep 3, 2024
- Peter E Schwab · Last reported as a director in an SEC filing dated May 24, 2023
- M. Freddie Reiss · Last reported as a director in an SEC filing dated May 24, 2023
- Karyn Leigh Williams · Last reported as a director in an SEC filing dated May 24, 2022
- Howard Levkowitz · Last reported as a director in an SEC filing dated Nov 12, 2020
- Kathleen A Corbet · Last reported as a director in an SEC filing dated Aug 27, 2020
- Paul L Davis · Last reported as CFO in an SEC filing dated Mar 17, 2020
- Brian F Wruble · Last reported as a director in an SEC filing dated Feb 28, 2020
- Michael E Leitner · Last reported as Authorized Person in an SEC filing dated Feb 4, 2020
- Mark Holdsworth · Last reported as Authorized Person in an SEC filing dated Feb 6, 2018
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
ETF Holders
8 ETFs hold TCPC
8 shown · $26.30M total exposure · 0.50% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | KBWD Invesco KBW High Dividend Yield Financial ETF | Nport | 2.14% | $9.1M | — | 2026-05-31 |
| 2 | BIZD VanEck BDC Income ETF | VanEck | 0.43% | $6.0M | $1.4B | 2026-10-20 |
| 3 | PHB Invesco Fundamental High Yield Corporate Bond ETF | Invesco | 1.75% | $4.8M | — | 2026-04-30 |
| 4 | IFLN Invesco Bloomberg Enhanced Fallen Angels ETF | Invesco | 0.99% | $2.8M | — | 2026-10-20 |
| 5 | PBDC Putnam BDC Income ETF | Franklin | 0.85% | $2.2M | $260.8M | 2026-10-20 |
| 6 | VPC Virtus Private Credit Strategy ETF | Nport | 2.77% | $841,194 | — | 2026-07-31 |
| 7 | IHYF Invesco High Yield Bond Factor ETF | Invesco | 0.31% | $494,599 | — | 2026-04-30 |
| 8 | ORR Militia Long/Short Equity ETF | Nport | -0.96% | — | — | 2026-05-29 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
—
TTM Diluted EPS
$-1.28
TTM Revenue
—
TTM Net Income
$-108.47M
TTM Op. Cash Flow
$399.70M
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q2 '26 | 2026-06-30 | — | $1.75M | $0.02 | $96.30M |
| Q4 '25 | 2025-12-31 | $43.92M | $-118.29M | $-1.40 | $40.53M |
| Q3 '25 | 2025-09-30 | $50.52M | $24.37M | $0.29 | $103.74M |
| Q2 '25 | 2025-06-30 | $51.46M | $-15.91M | $-0.19 | $-41.86M |
| Q1 '25 | 2025-03-31 | $55.89M | $20.89M | $0.25 | $52.50M |
| Q4 '24 | 2024-12-31 | $61.25M | $-38.55M | $-0.47 | $71.66M |
| Q3 '24 | 2024-09-30 | $70.93M | $21.63M | $0.25 | $101.63M |
| Q2 '24 | 2024-06-30 | $71.53M | $-51.28M | $-0.60 | $86.42M |
| Q1 '24 | 2024-03-31 | $55.73M | $5.06M | $0.08 | $33.41M |
| Q4 '23 | 2023-12-31 | $50.85M | $-13.31M | $-0.23 | $40.33M |
| Q3 '23 | 2023-09-30 | $54.21M | $12.82M | $0.22 | $46.56M |
| Q2 '23 | 2023-06-30 | $53.96M | $16.25M | $0.28 | $-9.13M |
Q2 2026 • period ending 2026-06-30 • filed 2026-08-06
Valuation
Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.
Price Multiples
- P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
- P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
- P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
- EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
- EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
- ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
- ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
- Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
- FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
- Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
- Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
- Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
- Multiples expanding while earnings are flat = sentiment-driven rally.
- Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
0.63
P/S
—
EV/EBITDA
—
EV/Sales
—
ROE
-19.7%
ROA
-7.3%
Div Yield
21.69%
FCF Yield
115.70%
Debt/Equity
1.65
Current Ratio
—
Market Cap
$345.46M
as of 2026-10-22
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
5.11M
SI % of Float
6.12%
Days to Cover
5.96
Short Vol Ratio
62.1%
Free Float
83.47M
Float %
99.5%
Short interest 2026-09-30 • Short volume 2026-10-21 • Float 2026-08-14