---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-021411"
form_type: "8-K"
ticker: "RAND"
cik: "0000081955"
company_name: "RAND CAPITAL CORP"
filed_at: "2026-05-06T23:59:59+00:00"
generated_at: "2026-05-14T23:03:51.088133+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Rand Capital Q1 2026 total investment income $1.2M, down 38% YoY; NII $0.18/share vs $0.42

## Summary
- Total investment income $1.2M vs $2.0M prior year, driven by lower interest and fee income and non-accruals.
- Net investment income $545K ($0.18/share) vs $1.2M ($0.42/share) in Q1 2025.
- NAV per share $17.16 at March 31, 2026; portfolio fair value $51.5M.
- Realized gain of $1.1M from exit of Seybert's Billiards; deployed $5.1M into new/follow-on investments.
- Quarterly dividend maintained at $0.29/share; board renewed $1.5M share repurchase program.

## SEC filing metadata
- accession: 0001493152-26-021411
- form_type: 8-K
- ticker: RAND
- cik: 0000081955
- company_name: RAND CAPITAL CORP
- filed_at: 2026-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/81955/000149315226021411/0001493152-26-021411-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/81955/000149315226021411/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-021411
- JSON: https://secwatch.observer/filing/0001493152-26-021411.json
- Plain text: https://secwatch.observer/filing/0001493152-26-021411.txt

## Source-grounded claims
- claim_id: 940996347d881a8ca2fd98b3cca88a6d2f75d292
  claim: RAND CAPITAL CORP reported first quarter ended March 31, 2026 results: revenue $1.2 million, net income $545,000, or $0.18 per share, EPS $0.18 per share.
  evidence_excerpt: --- 14 Lafayette Square, Suite 1405 ● Buffalo, New York 14203 FOR IMMEDIATE RELEASE Rand Capital Reports First Quarter Fiscal Year 2026 Results ● Total investment income was $1.2 million compared with $2.0 million in the prior-year period, primarily reflecting lower interest and fee income and the impact of non-accruals ● Net asset value (NAV) per share was
  evidence_url: https://www.sec.gov/Archives/edgar/data/81955/000149315226021411/0001493152-26-021411-index.htm

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