Every 10-Q that Rand Capital Corp (RAND) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow RAND and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full RAND filings page.
Rand Capital Corporation reported a net increase in net assets from operations of $998,809, or $0.34 per share, for the six months ended June 30, 2026, compared with a decrease of $6,894,707, or $2.36 per share, for the same period in 2025. Net investment income was $1,254,688 versus $3,696,349 a year earlier.
At June 30, 2026, investments at fair value were $56,500,906 (cost $67,460,476), within total assets of $57,660,666. Net assets were $51,459,887, or $17.33 per share, with 2,969,814 common shares outstanding. The company had $5,100,000 outstanding on its line of credit and cash and cash equivalents of $429,639.
The portfolio consisted entirely of restricted securities and was designated 100% Level 3 under ASC 820, with net unrealized depreciation of approximately $11.0 million based on a tax cost of approximately $68.8 million. Operating activities used $7,156,934 of cash in the first half of 2026, while financing activities provided $3,377,625, including borrowings on the credit facility and $1,722,375 of cash dividends paid.
Rand Capital Corporation reported a small net loss for the quarter as lower investment income and unrealized losses offset gains. Total investment income was $1.24M for the three months ended March 31, 2026, down from $2.01M a year earlier, mainly due to lower interest and fee income from portfolio companies.
Expenses declined to $0.64M from $0.79M, but the net change in unrealized depreciation on investments was a loss of $1.99M, compared with a $1.30M loss in the prior-year quarter. After including realized gains of $1.08M, Rand recorded a net decrease in net assets from operations of $0.37M, versus an increase of $0.84M last year.
Net assets were $50.95M, or $17.16 per share, at March 31, 2026, slightly below $17.57 per share at December 31, 2025. The company invested heavily in new and existing portfolio positions, driving cash and cash equivalents down to $0.33M from $4.21M, and drew $0.50M on its credit facility. A quarterly dividend of $0.29 per share was declared and paid.
Rand Capital Corporation reported third-quarter 2025 results. Net asset value was $18.06 per share, with total stockholders’ equity of $53.62 million as of September 30, 2025. Quarterly net investment income was $0.99 million on $1.58 million of total investment income, while expenses were $0.60 million.
Results were driven by a $3.22 million net realized and unrealized loss on investments for the quarter, leading to a net decrease in net assets from operations of $2.23 million. Year-to-date, net investment income was $4.69 million offset by $13.81 million of realized and unrealized losses, resulting in a $9.13 million decrease in net assets from operations. The investment portfolio’s fair value was $44.33 million (all Level 3 and restricted), and cash increased to $9.49 million. The company had no balance on its line of credit at quarter-end.