Horizon Technology Finance (HRZN)
Provides secured venture loans to development-stage companies across four target sectors.
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Provides secured venture loans to development-stage and venture-backed businesses across four target sectors. Debt investments and warrants pursue current income and capital appreciation, while an external adviser manages the business.
Secured Venture Loans finance development-stage and venture-backed businesses in technology, life science, healthcare information and services, and sustainability. The portfolio also includes warrants, pairing current income from debt investments with potential capital appreciation.
As a business development company, its stated investment objective is to generate current income and capital appreciation from warrants. An external adviser directs investment activity and day-to-day operations under Board supervision. Debt investments generally sit in first-lien positions or first liens behind a secured facility. The merger with Monroe Capital Corporation left Horizon as the surviving company and retained the external-management structure.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 1, 2026 | UBS | Reiterate | Rating: —Target: $4.25 | Target: $4.50 |
| Aug 26, 2026 | Compass Point | Initiate | Rating: —Target: $8.25 | Target: $5.50 |
| Aug 7, 2026 | Oppenheimer | Reiterate | Rating: —Target: — | Target: $5 |
| May 18, 2026 | UBS | Reiterate | Rating: —Target: $6.50 | Target: $4.25 |
| Nov 19, 2025 | UBS | Reiterate | Rating: —Target: $6.25 | Target: $6.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $135.0M · Total debt $402.4M · Total assets $832.0M · Shareholders' equity $417.5M
- Revenue
- $25.0M
- Operating income
- $15.5M
- Net income
- −$37.3M
HistoryDividendAnnual yieldUpcoming
| Institutions | ≈ 11.87% | 7.96M shares | |
|---|---|---|---|
| 113 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.86% | 574.5K shares | |
| 8 holders · as of Jun 11, 2026 | |||
| Other | ≈ 87.27% | 58.50M shares | |
| remainder | |||
67.03M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (67.03M in the company's Sep 22, 2026 report, 50.08M elsewhere); stakes use the report.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Morgan StanleyInstitution | 1.57% | 1.06M | as of Jun 30, 2026 |
Bulldog Investors, LLPInstitution | 0.98% | 658,617 | as of Jun 30, 2026 |
Marshall Wace, LLPInstitution | 0.88% | 592,247 | as of Jun 30, 2026 |
Caprock Group, LLCInstitution | 0.68% | 454,442 | as of Jun 30, 2026 |
Green Alpha Advisors, LLCInstitution | 0.64% | 429,913 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 9, 2026 | Kimberley Ann O'Connor | director | +10,000 | $4.37 |
| Jun 9, 2026 | Thomas J. Allison | director | +6,000 | $4.36 |
| Jun 9, 2026 | Michael Balkin | director, officer: Chief Executive Officer | +100,000 | $4.34 |
| Jun 9, 2026 | Paul G. Seitz | officer: Chief Investment Officer | +11,477 | $4.35 |
| Jun 10, 2026 | Daniel R. Trolio | officer: Executive VP and CFO | +11,500 | $4.34 |
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- TriplePoint Venture Growth BDC
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Horizon Technology Finance | $4.66 | 0.00% | $233.4M | 13.4 | 6.5 | 2.1 | +2.1% |
| Hercules Capital | $17.34 | −0.17% | $3.25B | 8.7 | 9.0 | 5.6 | +86.7% |
| Trinity Capital | $17.72 | −0.03% | $1.59B | 9.2 | 8.5 | 5.6 | +41.2% |
| Runway Growth Finance | $6.76 | +1.05% | $284.1M | 60.8 | 5.1 | 4.5 | +10.1% |
| TriplePoint Venture Growth BDC | $4.85 | +0.21% | $196.5M | 4.9 | 5.5 | 2.3 | −4.7% |
| Median | 9.0 | 7.0 | 5.1 | +25.6% |