---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-008935"
form_type: "8-K"
ticker: "RAND"
cik: "0000081955"
company_name: "RAND CAPITAL CORP"
filed_at: "2026-03-05T23:59:59+00:00"
generated_at: "2026-05-15T21:15:34.014972+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Rand Capital Q4 investment income $1.3M (-40% YoY); full year NII per share up 35%

## Summary
- Q4 total investment income $1.3M, down 40% YoY; net investment income $0.20 per share vs $0.86.
- Full year 2025 net investment income per share $1.80, up 35% from $1.33 in 2024.
- NAV per share $17.57 at Dec 31, 2025; total liquidity >$23M with no debt outstanding.
- Portfolio fair value $48.5M (20 companies) down 32% from 2024; debt investments 79%.
- Declared $0.29 quarterly dividend payable Mar 25, 2026; total 2025 dividends $1.72 per share.

## SEC filing metadata
- accession: 0001493152-26-008935
- form_type: 8-K
- ticker: RAND
- cik: 0000081955
- company_name: RAND CAPITAL CORP
- filed_at: 2026-03-05T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/81955/000149315226008935/0001493152-26-008935-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/81955/000149315226008935/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-008935
- JSON: https://secwatch.observer/filing/0001493152-26-008935.json
- Plain text: https://secwatch.observer/filing/0001493152-26-008935.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.