HTGC: Truist files 13G/A for 5,400 preferred shares (0.34% of class)

Rhea-AI Filing Summary

Truist Financial Corporation has filed Amendment No. 1 to a Schedule 13G reporting its beneficial ownership of Hercules Capital, Inc. (NASDAQ: HTGC) Domestic Preferred shares. The filing is a remedial submission for a position that fell below the 5 % reporting threshold in 2021 but was never reported. As of the event date 30 June 2025, Truist, acting as parent of its registered investment adviser subsidiary, discloses:

• Shares beneficially owned: 5,400
• Percentage of class: 0.34 %
• Sole voting power: 0
  Shared voting power: 0
• Sole dispositive power: 5,400
  Shared dispositive power: 0

The filing confirms the shares are held in the ordinary course of business with no intent to influence control. Truist is classified as both an Investment Adviser (IA) and Holding Company (HC). Vice President Edward M. Kwiatkowski signed the certification on 8 July 2025.

Because the stake is well below 5 % and carries no voting power, the disclosure has limited strategic or governance impact on Hercules Capital. The key takeaway for investors is simply the presence of a small, passive institutional holder and the company’s effort to correct past reporting oversight.

Insights

Securities Analyst

TL;DR – Passive, sub-1 % holding; neutral market impact.

This Schedule 13G/A shows Truist controls only 5,400 preferred shares (0.34 % of the class) in Hercules Capital. There is no voting power, and the filing is largely administrative—rectifying an earlier omission when the position dropped below 5 %. From an equity valuation or control perspective, the data is immaterial. The disclosure does, however, confirm an incremental layer of institutional interest in HTGC’s preferred securities, which can support secondary-market liquidity. Overall, it neither strengthens nor weakens the investment thesis for HTGC common or preferred shareholders.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Hercules Capital, Inc.

(Name of Issuer)

Domestic Preferreds

(Title of Class of Securities)

427096847

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 427096847

1

Names of Reporting Persons

TRUIST FINANCIAL CORP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NORTH CAROLINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,400.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,400.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.3 %

12

Type of Reporting Person (See Instructions)

IA, HC

Comment for Type of Reporting Person: Filing completed as part of internal effort to remediate filings not previously submitted. Current ownership is less than 5%. Filing of less than 5% ownership should have been submitted in 2021.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Hercules Capital, Inc.
(b)	Address of issuer's principal executive offices: 1 NORTH B STREET, 1 NORTH B STREET, SAN MATEO, CALIFORNIA, 94401.
Item 2.
(a)	Name of person filing: Truist Financial Corporation as Parent Holding Company for Truist Advisory Services, Inc. an affiliated Registered Investment Advisor
(b)	Address or principal business office or, if none, residence: 214 North Tryon Street Charlotte, NC 28202
(c)	Citizenship: Truist Financial Corporation is a North Carolina Corporation; Truist Advisory Services, Inc. is a Delaware Corporation
(d)	Title of class of securities: Domestic Preferreds
(e)	CUSIP No.: 427096847
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5400
(b)	Percent of class: 0.34 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 5400
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TRUIST FINANCIAL CORP

Signature:	Edward M. Kwiatkowski
Name/Title:	Vice President
Date:	07/08/2025

FAQ

How many Hercules Capital preferred shares does Truist Financial own?

Truist reports beneficial ownership of 5,400 Domestic Preferred shares.

What percentage of HTGC's preferred stock does this represent?

The position equals approximately 0.34 % of the outstanding class.

Does Truist have voting power over the HTGC shares?

No. The filing states zero sole or shared voting power for the position.

Why was the Schedule 13G/A filed in 2025?

Truist notes the filing is part of an internal remediation for reports not submitted when ownership fell below 5 % in 2021.

Is this filing a signal of a change in control at Hercules Capital?

No. The stake is well below control thresholds and is held passively without intent to influence management.