RAND 8-K SEC Filing Analysis

Final — all horizons settled through T+60d

RAND ▼ -9.35% at T+60d

SHORT call ✓ call won +9.35% · α vs SPY +20.65% · entry $11.80 → $10.70

Currently $10.15 · +14.01% from $11.80 entry (call sign-flipped)

Entry anchored
Mar 4, 09:58 AM ET
via Databento tick

T+1d

-2.81%

call +2.81% · α +1.50%

$11.47

settled 3mo ago

T+5d

-4.52%

call +4.52% · α +2.29%

$11.27

settled 3mo ago

T+20d

-0.63%

call +0.63% · α -3.16%

$11.73

settled 2mo ago

T+60d

-9.35%

call +9.35% · α +20.65%

$10.70

settled 12d ago

Price Chart

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Executive Summary

Rand Capital reported a significant decline in investment income for Q4 2025, with total investment income down 40% year-over-year to $1.3 million and net investment income per share falling to $0.20 from $0.86. Despite this, the company ended the year with $23 million in total liquidity and no debt, having received $17.8 million from loan repayments and equity realizations while deploying $6.6 million into new investments.

Key Financial Metrics

Revenue

$1.3M

-40.0% YoY

Adj. EPS

$0.20

GAAP: $0.20

Actionable Insight

The significant decline in investment income suggests portfolio contraction and reduced earnings power, which could pressure the dividend. However, the strong liquidity position provides flexibility for future investments. Traders should monitor the company's ability to deploy capital effectively in 2026 to rebuild its income stream.

Key Facts

Q4 2025 total investment income was $1.3 million, down 40% YoY
Q4 2025 net investment income per share was $0.20, down from $0.86 YoY
Full year 2025 total investment income was $6.5 million, down from $8.6 million in 2024
Company ended 2025 with $23 million in total liquidity and no debt outstanding
Received $17.8 million from loan repayments and equity realizations in 2025
Deployed $6.6 million into new and follow-on investments in 2025
Net asset value (NAV) per share was $17.57 at December 31, 2025

Financial Impact

Revenue down 40% YoY, net investment income per share down 77% YoY

revenueepsliquidityportfolio value

Segment Breakdown

Segment	Revenue	Growth
Fourth Quarter 2025	$1.3M	-40.0%
Full Year 2025	$6.5M	-24.4%

Risk Factors

Continued decline in investment income if deal origination remains slow
Pressure on dividend sustainability given reduced earnings
Portfolio value declined 32% to $48.5 million, indicating valuation challenges

Market Snapshot

Exchange

Nasdaq

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001493152-26-008935
Document: form8-k.htm	0001493152-26-008935
Document: 0001493152-26-008935-index-headers.html	0001493152-26-008935
Document: 0001493152-26-008935-index.html	0001493152-26-008935
Document: 0001493152-26-008935.txt	0001493152-26-008935

2 reports for RAND

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for RAND — sortable, filterable
	Type				Now
May 6, 2026 5w ago	8-K BEARISH ★ 6/10	$10.99 $10.42	▲ +5.19%	▲ +7.97%	$10.15 (+7.64%)
Mar 5, 2026 14w ago	8-K BEARISH ★ 6/10	$11.80 $11.73	▲ +0.63%	▼ −3.16%	$10.15 (+14.01%)

US Market Status

Market Closed — Opens Mon (49h 32m)

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