Key Takeaways ARCC's $27.9B portfolio spans 560 firms, but faces tariff risks across key sectors.HTGC's $4.2B portfolio leans on software and drug discovery, countering tariff pressure.HTGC trades at a lower forward P/E than ARCC and shows stronger 2026 earnings prospects.Ares Capital Corporation (ARCC) and Hercules Capital, Inc. (HTGC) are two leading Business Development Companies (BDCs) that provide debt financing to private companies. While ARCC focuses on middle-market firms across various industries, ...