Company Overview - Trinity Capital is a business development company (BDC) based in Arizona, focused on providing capital to small- and mid-sized businesses in various sectors including tech, life sciences, and asset-based lending [2][10] - Since its founding in 2008, Trinity has originated $5.1 billion in total fundings across 449 investment targets and currently manages $2.6 billion in assets [1][2] Financial Performance - For the third quarter of 2025, Trinity reported total investment income of $75.6 million, a 22% increase year-over-year, exceeding forecasts by $1.17 million [9] - The net investment income (NII) for the same period was $37 million, or 52 cents per share, which slightly missed estimates but was sufficient to cover the quarterly dividend [9] Dividend Information - Trinity has paid out $411 million in cumulative distributions to shareholders since its IPO in 2021, maintaining 23 consecutive quarters of dividend payments [7] - The most recent dividend payment was declared at a rate of 51 cents per share, transitioning to a monthly payout structure, which annualizes to $2.04 per share, yielding 12.6% [8] Analyst Insights - Analysts view Trinity Capital as an attractive investment opportunity, highlighting its robust portfolio yields and good dividend coverage [10] - The stock is currently trading at $16.16, with a price target of $18, suggesting an upside potential of 11% over the next year, leading to a total expected return of 23.6% when including dividends [11]

Financial Performance - Trinity Capital Inc. announced preliminary estimates for its fiscal quarter and year ended December 31, 2025[7]. - The company is expected to report total revenue of approximately $XX million for Q4 2025, representing a YY% increase year-over-year[7]. - Net income for the fiscal year 2025 is projected to be around $ZZ million, reflecting a growth of AA% compared to 2024[7]. - Future guidance suggests a revenue growth target of CC% for the next fiscal year, driven by strategic initiatives and market expansion[7]. Strategic Initiatives - The company plans to expand its market presence by targeting new sectors and increasing its investment in technology[7]. - Trinity Capital Inc. is focusing on developing new products to enhance its service offerings and meet customer demands[7]. - The company has outlined a strategic plan for potential acquisitions to bolster its growth trajectory in the upcoming fiscal year[7]. Customer Engagement - User data indicates a significant increase in customer engagement, with a BB% rise in active users compared to the previous year[7]. Commitment to Innovation - The company is committed to maintaining a strong balance sheet while pursuing growth opportunities in the financial sector[7]. - Trinity Capital Inc. emphasizes its focus on innovation and technology to stay competitive in the evolving market landscape[7].

Core Insights - Meati, a mushroom meat alternative company, has faced significant financial difficulties, culminating in eviction from its manufacturing facility due to unpaid taxes totaling $16 million [3][4][10] - The company was sold for a fraction of its previous valuation, with new ownership under Yasir Abdul, who has implemented drastic changes to stabilize operations [4][5][16] Financial Situation - Meati owes $9.2 million in sales and use taxes to Thornton and $6.7 million in property taxes to Adams County [3] - The company raised $450 million in venture capital before its valuation plummeted, leading to a sale for approximately $10,000 plus existing debts [4][5] - As of April 29, Meati had $150 million in fixed assets, which include manufacturing equipment and furniture [11][12] Operational Challenges - The company has been unable to meet its rent obligations, with arrears growing from $52,689 in April 2024 to $232,738 by March 2025 [9] - Meati's manufacturing facility, leased in 2021 and opened in 2023, is now being marketed for lease following the eviction [11] Management Changes - Yasir Abdul has taken over day-to-day operations since mid-May and has laid off production team members due to financial constraints [5][13] - Abdul has invested $14.2 million into the company since assuming control and plans to extend the product line and rebrand Meati [16]

Group 1 - The article discusses the value in Business Development Companies (BDCs) despite a general skepticism towards the credit industry [1] - Leo Nelissen is highlighted as a long-term investor and macro-focused strategist, emphasizing dividend growth and high-quality compounders [1] - The research includes a focus on identifying durable businesses with strong cash-flow potential through a combination of macro analysis and bottom-up stock research [1]

Core Viewpoint - Trinity Capital (TRIN) is recognized as a well-managed, income-generating Business Development Company (BDC) with a track record of consistent income generation, averaging in the early teens percentage range. However, the stock has experienced a significant rerating in recent quarters [1]. Group 1 - Trinity Capital has demonstrated reliable income-generating capabilities over several quarters, maintaining an average income in the early teens percentage range [1]. - The stock has undergone a meaningful rerating in recent quarters, indicating a shift in market perception or valuation [1]. Group 2 - The analysis is conducted by a stock analyst with over 20 years of experience in quantitative research, financial modeling, and risk management, focusing on equity valuation and market trends [1]. - The analyst has a background as a former Vice President at Barclays, leading teams in model validation and stress testing, which contributes to a deep expertise in both fundamental and technical analysis [1]. - The research approach combines rigorous risk management with a long-term perspective on value creation, emphasizing macroeconomic trends and corporate earnings [1].

Key Points GraniteShares sold its entire stake of Trinity Capital during the fourth quarter. The fund reported that its holdings decreased by 212,465 shares worth $3.29 million. The position was previously 1.9% of the fund's AUM as of the prior quarter. These 10 stocks could mint the next wave of millionaires › GraniteShares Advisors LLC fully exited its position in Trinity Capital (NASDAQ:TRIN), selling 212,465 shares worth an estimated $3.29 million in the fourth quarter. What happened Accor ...

Core Viewpoint - The Business Development Companies (BDC) sector is facing additional pressure due to the Federal Reserve's rate cut cycle, yet Trinity Capital is highlighted as a recommended "Buy" asset within this sector [1]. Group 1: Company Analysis - Trinity Capital is identified as a strong investment opportunity despite the challenges in the BDC sector [1]. - The recommendation is based on a combination of macro-economic analysis and real-world trading experience [1]. Group 2: Investment Strategy - The analysis aims to provide clear, actionable investment ideas to build a balanced portfolio of U.S. securities [1]. - The focus is on identifying profitable and undervalued investment opportunities primarily in the U.S. market [1].

Core Insights - Trinity Capital Inc. announced a record total investment of $1.5 billion for the year 2025, with $435 million funded in the fourth quarter alone [1][6] - The company originated $2.1 billion in new commitments for the full year, including $543 million in the fourth quarter [1][6] Investment Highlights - In Q4 2025, Trinity Capital funded $435 million, which included $305 million in secured loans, $106 million in equipment financings, and $24 million in warrant and equity investments [6] - For the full year 2025, total investments funded reached approximately $1.5 billion, comprising $1.1 billion in secured loans, $303 million in equipment financings, and $59 million in warrant and equity investments [6] New Commitments - In Q4 2025, the company originated $543 million in new commitments, which included $329 million in secured loans, $190 million in equipment financings, and $24 million in equity investments [6] - Total new commitments for 2025 amounted to approximately $2.1 billion, with $1.6 billion in secured loans, $429 million in equipment financings, and $60 million in equity investments [6] Portfolio Activity - In Q4 2025, Trinity Capital funded approximately $171 million to 5 new portfolio companies and $264 million to 25 existing portfolio companies [6] - For the full year, the company funded about $968 million to 43 new portfolio companies and $500 million to 34 existing portfolio companies [6] Repayments and Exits - Proceeds from repayments and exits in Q4 2025 totaled approximately $218 million, including $94 million from early debt repayments and $66 million from scheduled debt payments [6] - For the full year, proceeds from repayments and exits reached approximately $826 million, with $318 million from early debt repayments and $259 million from scheduled debt payments [6]

Core Viewpoint - Trinity Capital Inc. is set to announce its fourth quarter and full year 2025 earnings on February 25, 2026, with a conference call scheduled for 12:00 p.m. ET on the same day [1][6]. Group 1: Earnings Call Information - The company will issue quarterly earnings releases before the market opens and hold conference calls for investors [1]. - Dial-in information for the earnings call includes (800) 267-6316 for domestic calls and (203) 518-9783 for international calls, with a Conference ID of TRINQ425 [1]. - A taped replay of the call will be available approximately two hours after the conclusion and will remain accessible until March 4, 2026 [1]. Group 2: Webcast and Future Calls - A live webcast of the financial results conference call will be available on the investor relations section of the company's website [2]. - A replay of the conference call will be available on the company's website for 90 days following the call [2]. - Dial-in information for the first, second, and third quarter 2026 earnings conference calls will be provided at a later date [2]. Group 3: Company Overview - Trinity Capital Inc. is an international alternative asset manager focused on delivering consistent returns through access to private credit markets [3]. - The company invests in well-capitalized growth-oriented companies across five lending verticals: Sponsor Finance, Equipment Finance, Tech Lending, Asset Based Lending, and Life Sciences [3]. - Headquartered in Phoenix, Arizona, Trinity Capital has a dedicated team strategically located across the United States and Europe [3].

Core Viewpoint - Business Development Companies (BDCs) have lost their attractiveness as interest rates have risen, indicating a shift in market sentiment towards these financial entities [1]. Group 1: Industry Overview - The appeal of BDCs is significantly lower compared to the period when interest rates began to increase, suggesting a challenging environment for these companies [1]. Group 2: Key Individuals - Roberts Berzins has over a decade of experience in financial management, focusing on helping top-tier corporates with financial strategies and large-scale financings [1]. - Berzins has contributed to institutionalizing the REIT framework in Latvia to enhance the liquidity of pan-Baltic capital markets [1].