Rand Capital Corp (RAND)

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Institutional Investors' Holdings

Filing Period:

No.	Name	Shares	Value	% Port
1.	Courier Capital Corp	16,763	$314,642	0.02%
2.	Shufro Rose & Co Llc	14,000	$262,780	0.02%
3.	O'shaughnessy Asset Management, Llc	10,989	$210,879	0%
4.	Ubs Group Ag	4,292	$80,561	0%
5.	Advisor Group Holdings, Inc.	603	$11,318	0%