Rand Capital (RAND)
Invests in debt and related equity of privately held lower-middle-market businesses.
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Generates income through debt investments in privately held lower-middle-market companies, with equity participation where appropriate. The externally managed BDC is advised by Rand Capital Management and operates under regulated-investment-company requirements.
Built around investments in privately held lower-middle-market companies, the portfolio emphasizes higher-yielding debt instruments and, where appropriate, related equity participation. The mandate seeks current income alongside potential capital appreciation.
Operations are managed externally by Rand Capital Management, which serves as both investment adviser and administrator. Rand reports no employees under this arrangement.
Based in Buffalo, New York, the company operates as a closed-end, non-diversified business development company. Its qualifying investments span privately held businesses rather than a consumer product portfolio.
As a BDC, its rules require most assets to be qualifying assets and require managerial assistance for portfolio companies in which it invests. The management and administration agreements with Rand Capital Management shape the operating model.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $429.6K · Total debt $5.1M · Total assets $57.7M · Shareholders' equity $51.5M
- Revenue
- $1.4M
- Operating income
- $819.5K
- Net income
- $1.4M
HistoryDividendAnnual yield
| Institutions | 1.61% | 47.8K shares | |
|---|---|---|---|
| 8 holders · as of Jun 30, 2026 | |||
| Insiders | 1.13% | 33.5K shares | |
| 1 holder · as of Sep 16, 2025 | |||
| Other | 97.26% | 2.89M shares | |
| remainder | |||
2.97M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Adam Samuel GuskyInsiderdirector | 1.13% | 33,546 | filed Sep 16, 2025 |
Courier Capital LLCInstitution | 0.52% | 15,382 | as of Jun 30, 2026 |
Shufro Rose & Co LLCInstitution | 0.47% | 14,000 | as of Jun 30, 2026 |
WNY Asset Management, LLCInstitution | 0.45% | 13,250 | as of Jun 30, 2026 |
UBS Group AGInstitution | 0.08% | 2,242 | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Main Street Capital
Lower-middle-market debt and equity investor
- Gladstone Investment
Lower-middle-market debt-and-equity buyout financier
- Prospect Capital
Private middle-market lender with equity-linked capital
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Rand Capital | $10.87 | +2.07% | $31.6M | — | — | 4.8 | −13.0% |
| Main Street Capital | $56.14 | −0.25% | $5.23B | 11.3 | 14.8 | 7.5 | −26.1% |
| Gladstone Investment | $15.81 | −0.19% | $630.8M | 3.8 | 16.8 | 6.0 | +10.2% |
| Prospect Capital | $2.21 | +0.23% | $1.10B | 39.2 | 5.7 | 1.7 | −6.7% |
| Median | 11.3 | 14.8 | 6.0 | −6.7% |