HTGC on NYSE

Hercules Capital, Inc.

Hercules Capital, Inc. is a specialty finance company focused on providing senior secured loans to high-growth, innovative venture capital-backed and institutional-backed companies in a variety of.3 From its latest annual report

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Last updated Oct 19, 2026.

Overview

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  • TickerHTGC on NYSE1
  • HeadquartersSan Mateo, California1
  • Incorporated inMD2
  • Business address1 North B Street, Suite 2000, San Mateo, Ca 944012
  • Filer categoryLarge accelerated filer2

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Hercules Capital, Inc. is a specialty finance company focused on providing senior secured loans to high-growth, innovative venture capital-backed and institutional-backed companies in a variety of technology and life sciences industries. We make investments in companies that are active across a variety of technology-related industry sub-sectors or are characterized by products or services that require advanced technologies, including, but not limited to, computer software and hardware, networking systems, semiconductors, semiconductor capital equipment, information technology infrastructure or services, consumer and business services, telecommunications, telecommunications equipment and media. Within the life sciences sub-sector, we generally focus on medical devices, bio-pharmaceutical, drug discovery and development, drug delivery, health care services and information systems companies…3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income4567$339.7M in 2025+49% since 2020
0$100.0M$200.0M$300.0M$400.0M2020: $227.3M$227.3M20202021: $174.2M$174.2M2021−23%2022: $102.1M$102.1M2022−41%2023: $337.5M$337.5M2023+231%2024: $263.0M$263.0M2024−22%2025: $339.7M$339.7M2025+29%

Every line of the income statement as filed: the last 5 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-312022-12-312021-12-31
Total interest and dividend income, excluding PIK interest income$452.0M$415.9M$409.8M
Total PIK interest income$55.9M$51.3M$24.7M
Total interest and dividend income$507.9M$467.2M$434.4M
Total fee income$24.6M$26.4M$26.2M
Total investment income$532.5M$493.6M$460.7M
Interest$92.2M$77.2M$67.6M
Loan fees$11.0M$8.8M$9.8M
General and administrative$19.0M$19.7M$18.7M
Tax expenses$5.8M$5.8M$6.1M
Compensation and benefits$63.3M$54.2M$50.3M
Stock-based compensation$14.6M$12.8M$13.2M
Total employee compensation$78.0M$67.1M$63.5M
Total gross operating expenses$206.0M$178.5M$165.7M
Expenses allocated to the Adviser Subsidiary-$15.2M-$10.8M-$9.1M
Total net operating expenses$190.8M$167.8M$156.6M
Net investment income$341.7M$325.8M$304.0M
Loss on extinguishment of debt-$184.0K-$171.0K$0
Total net realized gain (loss)-$40.8M-$31.7M$8.4M
Total net change in unrealized appreciation (depreciation)$38.8M-$31.2M$25.0M
Total net realized gain (loss) and net change in unrealized appreciation (depreciation)-$2.0M-$62.9M$33.4M
Net increase (decrease) in net assets resulting from operations$339.7M$263.0M$337.5M
Basic (in dollars per share)$1.91$2.00$2.09
Basic (in dollars per share)$1.90$1.61$2.32
Diluted (in dollars per share)$1.85$1.61$2.31
Basic (in shares)177.4M shares161.1M shares144.1M shares125.2M shares114.7M shares
Diluted (in shares)188.9M shares161.6M shares144.8M shares
Basic (in dollars per share)$1.88$1.92$1.90

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Leadership

Who has led Hercules Capital, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Manuel A. Henriquez2006–2019
  2. Scott Bluestein2019–now

Chair

  1. Manuel A. Henriquez2018–2019

President

  1. Manuel A. Henriquez2006–2018
  2. Seth H. Meyer2026–now

Chief financial officer

  1. Jessica T. Baron2011–2015
  2. Mark R. Harris2015–2017
  3. David Michael Lund2017
  4. Seth H. Meyer2019–2026
  5. Andrew Olson2026–now

Chief operating officer

  1. Scott Gable2010
  2. Christian Follmann2022–now
2010201520202025
Board members and other officers (34)

Former names

  • HERCULES TECHNOLOGY GROWTH CAPITAL INCFeb 18, 2004 to Feb 19, 20162

Timeline

  1. Apr 11, 2019New chief executive Scott Bluestein becomes CEO10
  2. Apr 17, 2006New chief executive Manuel A. Henriquez becomes CEO11

Filings

442 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 59 major events, 288 insider forms, 4 large holders, 71 other. The latest 20:

  1. Oct 13, 20264 PRIMARY DOCUMENT EDGAR
  2. Oct 13, 20264 PRIMARY DOCUMENT EDGAR
  3. Oct 13, 20264 PRIMARY DOCUMENT EDGAR
  4. Oct 13, 20264 PRIMARY DOCUMENT EDGAR
  5. Oct 8, 20268-K EDGAR
  6. Oct 6, 2026424B2 EDGAR
  7. Oct 5, 2026497AD EDGAR
  8. Oct 5, 2026FWP EDGAR
  9. Oct 5, 2026424B2 EDGAR
  10. Sep 21, 20264 PRIMARY DOCUMENT EDGAR
  11. Sep 21, 20263 PRIMARY DOCUMENT EDGAR
  12. Sep 17, 20268-K EDGAR
  13. Sep 11, 20264 PRIMARY DOCUMENT EDGAR
  14. Jul 30, 20268-K EDGAR
  15. Jul 30, 202610-Q EDGAR
  16. Jul 24, 20268-K EDGAR
  17. Jul 23, 2026424B2 EDGAR
  18. Jul 21, 20268-K EDGAR
  19. Jul 21, 2026497AD EDGAR
  20. Jul 21, 2026FWP EDGAR

The 442 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

57 open-market trades by officers, directors and large owners since October 2021: 47 buys and 10 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 26, 2026Aguirre DeAnneDirectorBuy7,317$14.35$105.0KForm 4
Mar 26, 2026Loo WadeDirectorBuy7,317$14.35$105.0KForm 4
Mar 26, 2026Theodosopoulos NikosDirectorBuy7,317$14.35$105.0KForm 4
Mar 26, 2026Fallon Thomas JDirectorBuy7,300$14.30$104.4KForm 4
Mar 26, 2026Randhawa Paramjeet KDirectorBuy2,926$14.35$42.0KForm 4
Mar 26, 2026CROWELL GAYLE ADirectorBuy7,317$14.35$105.0KForm 4
Mar 26, 2026BADAVAS ROBERT PDirectorBuy3,658$14.35$52.5KForm 4
Mar 4, 2026Follmann ChristianChief Operating OfficerBuy5,000$14.68$73.4KForm 4
Mar 4, 2026Follmann ChristianChief Operating OfficerBuy5,000$14.68$73.4KForm 4
Mar 4, 2026Randhawa Paramjeet KDirectorBuy3,050$14.78$45.1KForm 4
Feb 27, 2026Botelho Kiersten ZazaChief Legal Officer & CCOBuy1,300$14.21$18.5KForm 4
Feb 27, 2026Meyer Seth HPresidentBuy14,000$14.33$200.6KForm 4
Feb 27, 2026Meyer Seth HPresidentBuy7,000$14.33$100.3KForm 4
Feb 27, 2026Theodosopoulos NikosDirectorBuy2,600$14.21$36.9KForm 4
Feb 27, 2026Bluestein ScottChief Executive OfficerBuy7,000$14.35$100.5KForm 4
Feb 27, 2026Fallon Thomas JDirectorBuy20,000$14.20$284.0KForm 4
Feb 27, 2026BADAVAS ROBERT PDirectorBuy5,000$14.27$71.3KForm 4
Feb 25, 2026Loo WadeDirectorBuy3,300$14.98$49.4KForm 4
Feb 24, 2026Bluestein ScottChief Executive OfficerBuy30,000$15.08$452.4KForm 4
Feb 24, 2026Fallon Thomas JDirectorBuy10,000$14.98$149.8KForm 4

All 57 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Van Eck Associates Corp3,877,634$61.2M0.0%+713,653
Sound Income Strategies, LLC3,667,518$57.8M2.6%+285,460
Citadel Advisors LLC2,937,122$46.3M0.0%+2,121,737
UBS Group AG2,645,744$41.7M0.0%+151,752
Two Sigma Investments, LP2,265,824$35.7M0.0%−59,035
LPL Financial LLC1,857,272$29.3M0.0%+61,595
Morgan Stanley1,812,484$28.6M0.0%+547,868
Legal & General Group Plc1,681,333$26.5M0.0%+182,680
Franklin Resources Inc1,383,905$21.8M0.0%+248,416
D. E. Shaw & Co., Inc.1,373,460$21.7M0.0%−175,500
Muzinich & Co., Inc.1,357,013$21.4M7.3%+6,888
Union Bancaire Privee, UBP SA6,449$16.3M0.2%No change
Sumitomo Mitsui Trust Group, Inc.1,027,434$16.2M0.0%+2,097
Tectonic Advisors LLC1,006,408$15.9M0.8%+113,306
BlackRock, Inc.924,105$14.6M0.0%+69,053
Advisors Capital Management, LLC919,542$14.5M0.2%+63,326
Jpmorgan Chase & Co837,561$13.3M0.0%−41,039
Ares Management LLC776,606$12.2M0.6%No change
Wells Fargo & Company/mn735,367$11.6M0.0%−13,840
Qube Research & Technologies Ltd694,341$10.9M0.0%−1,541,409
Gilman Hill Asset Management, LLC646,682$10.2M1.4%+28,849
Melia Wealth LLC553,874$8.7M5.0%−245,834
Raymond James Financial Inc532,094$8.4M0.0%+55,526
Stifel Financial Corp486,419$7.7M0.0%−15,309
Ameriprise Financial Inc485,156$7.7M0.0%+47,079

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

24 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jan 12, 2026Virginia FoxxRepublican, HouseSale$50,001 - $100,000+21.8%Report
Nov 19, 2025Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−20.8%Report
Sep 25, 2025Virginia FoxxRepublican, HousePartial sale$15,001 - $50,000+30.1%Report
Aug 19, 2025Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−33.7%Report
May 20, 2025Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−36.9%Report
Mar 5, 2025Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−45.1%Report
Nov 20, 2024Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−42.2%Report
Oct 23, 2024Virginia FoxxRepublican, HouseBuy$15,001 - $50,000−49.6%Report
Aug 20, 2024Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−47.0%Report
May 21, 2024Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−60.4%Report
Apr 16, 2024Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−60.7%Report
Mar 7, 2024Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−58.1%Report
Feb 1, 2024Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−60.8%Report
Jan 16, 2024Virginia FoxxRepublican, HouseBuy$15,001 - $50,000−64.2%Report
Oct 25, 2023Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−75.2%Report
Oct 23, 2023Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−74.2%Report
Oct 20, 2023Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−76.9%Report
Oct 3, 2023Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−77.4%Report
Sep 21, 2023Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−76.3%Report
May 19, 2022Virginia FoxxRepublican, HouseSale$50,001 - $100,000+79.9%Report
May 9, 2022Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−91.2%Report
Mar 8, 2022Virginia FoxxRepublican, HouseBuy$1,001 - $15,000−87.4%Report
Mar 7, 2022Virginia FoxxRepublican, HouseBuy$15,001 - $50,000−88.0%Report
Mar 4, 2022Virginia FoxxRepublican, HouseBuy$15,001 - $50,000−85.4%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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