<SEC-DOCUMENT>0001493152-25-013772.txt : 20250916
<SEC-HEADER>0001493152-25-013772.hdr.sgml : 20250916
<ACCEPTANCE-DATETIME>20250916193001
ACCESSION NUMBER:		0001493152-25-013772
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250915
FILED AS OF DATE:		20250916
DATE AS OF CHANGE:		20250916

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Gusky Adam Samuel
		CENTRAL INDEX KEY:			0001792912
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00235
		FILM NUMBER:		251318473

	MAIL ADDRESS:	
		STREET 1:		RAND CAPITAL CORPORATION
		STREET 2:		14 LAFAYETTE SQUARE, SUITE 2200
		CITY:			BUFFALO
		STATE:			NY
		ZIP:			14203

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RAND CAPITAL CORP
		CENTRAL INDEX KEY:			0000081955
		ORGANIZATION NAME:           	
		EIN:				160961359
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1405 RAND BUILDING
		CITY:			BUFFALO
		STATE:			NY
		ZIP:			14203
		BUSINESS PHONE:		7168530802

	MAIL ADDRESS:	
		STREET 1:		1405 RAND BUILDING
		CITY:			BUFFALO
		STATE:			NY
		ZIP:			14203
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
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            <rptOwnerStreet2>14 LAFAYETTE SQUARE, SUITE 1405</rptOwnerStreet2>
            <rptOwnerCity>BUFFALO</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>14203</rptOwnerZipCode>
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            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
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                <directOrIndirectOwnership>
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                    <footnoteId id="F1"/>
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                    <value>By LLC</value>
                </natureOfOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-09-15</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
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                <transactionFormType>4</transactionFormType>
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                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>10</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>14.60</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>32761</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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                <transactionFormType>4</transactionFormType>
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                    <value>100</value>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
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                <transactionShares>
                    <value>250</value>
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                    <value>15.00</value>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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                <directOrIndirectOwnership>
                    <value>I</value>
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                </natureOfOwnership>
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        <nonDerivativeTransaction>
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                <value>Common Stock</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                    <value>200</value>
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                    <value>15.00</value>
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                    <value>A</value>
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                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">These securities are held by AG Energy, LLC. These securities may be deemed to be beneficially owned by Mr. Gusky by virtue of his control of AG Energy, LLC.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Daniel Penberthy on behalf of Adam Samuel Gusky (2)</signatureName>
        <signatureDate>2025-09-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
