RCG RENN Fund Inc

RENN Fund, Inc.

Consolidated Schedule of Investments

As of September 30, 2024 (Unaudited)

 

Shares or Principal Amount				Company		Cost				Value
				MONEY MARKET FUNDS – 26.74%
	92,578			Fidelity Government Cash Reserves Portfolio -  Institutional Class, 4.63%		$	92,578			$	92,578
	4,488,793			Fidelity Investment Money Market Funds Government Portfolio - Institutional Class, 4.83%			4,488,793				4,488,793
				Total Money Market Funds			4,581,371				4,581,371
				CONVERTIBLE BONDS – 0.00%
				Oil and Gas – 0.00%
	1,000,000			PetroHunter Energy Corporation 8.50% Maturity 12/31/2014(1)(2)(5)			540,225				-
				Total Convertible Bonds			540,225				-
				COMMON EQUITIES – 72.24%
				Accomodations – 0.32%
	2,000			Civeo Corp.			54,150				54,800
				Asset Management – 0.20%
	973			Associated Capital Group, Inc. - Class A			40,594				34,464
				Communication Services – 0.01%
	100			IG Port, Inc.(4)			1,229				1,441
				Financial Services – 0.04%
	500			DigitalBridge Group, Inc.			7,250				7,065
	2			White Mountains Insurance Group, Inc.			3,456				3,392
							10,706				10,457
				Hospitality – 0.84%
	7,300			Carnival Corp.(2)			104,635				134,904
	50			Royal Caribbean Ltd.			2,940				8,868
							107,575				143,772
				Metal Mining – 3.50%
	580			Franco-Nevada Corp.			83,192				72,065
	18,858			Mesabi Trust			517,197				427,134
	1,640			Wheaton Precious Metals Corp.			68,954				100,171
							669,343				599,370
				Medicinal Chemicals and Botanical Products – 14.77%
	77,228			FitLife Brands, Inc.(2)			9,131,688				2,528,445
				Oil and Gas – 37.92%
	1,400			Liberty Energy, Inc.			27,247				26,726
	21,448			Landbridge Company LLC(2)			368,273				839,046
	19,315			Permian Basin Royalty Trust			299,138				229,655
	808,445			PetroHunter Energy Corporation(1)(2)(5)			101,056				-
	16,302			PrairieSky Royalty Ltd.(4)			207,008				331,343
	100			Sabine Royalty Trust			8,002				6,177
	5,724			Texas Pacific Land Corp.			1,079,738				5,064,252
							2,090,462				6,497,199

				Other Financial Investment Activities – 1.93%
	76,000			Urbana Corp.(4)			271,870				304,000
	6,700			Urbana Corp. Class A(4)			22,434				26,354
							294,304				330,354
				Securities and Commodity Exchanges – 1.13%
	720			Bakkt Holdings, Inc.(2)			16,978				6,890
	0			CNSX Markets, Inc.(2)(3)(4)			13,502				13,619
	240			Intercontinental Exchange, Inc.(4)			30,806				38,554
	14,000			Miami International Holdings, Inc.(1)(2)(3)			105,000				134,260
							166,286				193,323
				Securities, Commodity Contracts, and Other Financial Investments and Related Activities – 2.41%
	7,290			Grayscale Bitcoin Mini Trust(2)			30,362				41,043
	4			Grayscale Ethereum Classic Trust(2)			46				32
	7,282			Grayscale Bitcoin Trust(2)			249,806				367,741
	114			iShares Bitcoin Trust(2)			4,037				4,119
	4			iShares Silver Trust ETF(2)			111				114
							284,362				413,049
				Live Sports (Spectator Sports) – 1.63%
	5,091			Big League Advance, LLC.(1)(2)(3)			280,000				280,005
				Surgical & Medical Instruments & Apparatus – 4.45%
	615,000			Apyx Medical Corp.(2)			1,470,958				762,600
				Technology Services – 3.09%
	1,048			CACI International, Inc. – Class A. (2)			296,486				528,779
				Total Common Equities			14,898,143				12,378,058
				OPEN ENDED MUTUAL FUNDS – 0.14%
	824			Kinetics Spin-Off and Corporate Restructuring Fund(6)			13,168				23,723
				Total Open Ended Mutual Funds			13,168				23,723
				PREFERRED STOCKS – 1.08%
	30,966			Diamond Standard, Inc.(1)(2)(3)			185,798				185,798
				Total Preferred Stocks			185,798				185,798
				WARRANTS – 0.03%
				Diamond Standard, Inc., Exercise Price: $9.00,
	837			Expiration Date: January 15, 2026(1)(2)(3)			-				-
				Miami International Holdings, Inc., Exercise Price: $7.50,
	2,132			Expiration Date: March 31, 2026(1)(2)(3)			-				5,287
				Total Warrants			-				5,287
				TOTAL INVESTMENTS – 100.23%		$	20,218,705			$	17,174,237
				LIABILITIES LESS OTHER ASSETS  –  -0.23%							(40,089	)
				NET ASSETS - 100.00%						$	17,134,148

Shares or Principal Amount				Company		Proceeds				Value
				SECURITIES SOLD SHORT – 0.05%
				EXCHANGE TRADED FUNDS – 0.05%
	(473	)		Direxion Daily Gold Miners Index Bear 2X Shares ETF			(4,520	)			(2,526	)
	(101	)		Direxion Daily Junior Gold Miners Index Bear 2X Shares ETF			(4,266	)			(2,666	)
	(311	)		Direxion Daily S&P Biotech Bear 3X Shares ETF			(2,287	)			(1,816	)
	(13	)		ProShares Ultra VIX Short-Term Futures ETF(2)			(981	)			(324	)
	(2	)		ProShares Ultra Silver Class ETF(2)			(83	)			(81	)
	(11	)		ProShares UltraShort ETF(2)			(113	)			(105	)
	(6	)		ProShares UltraShort Bloomberg Natural Gas ETF(2)			(241	)			(331	)
	(19	)		ProShares VIX Short-Term Futures ETF(2)			(498	)			(233	)
				Total Exchange Traded Funds			(12,989	)			(8,082	)
				EXCHANGE TRADED NOTES – 0.00%
	(15	)		iPath Series B S&P VIX Short-Term Futures ETN(2)		$	(1,296	)		$	(744	)
				Total Exchange Traded Notes			(1,296	)			(744	)
				TOTAL SECURITIES SOLD SHORT – 0.05%		$	(14,285	)		$	(8,826	)

 

(1)

See Annual Report Note 5 - Fair Value Measurements.

(2)

Non-Income Producing.

(3)

Big League Advance, LLC., CNSX Markets, Inc., Diamond Standard, Inc. and Miami International Holdings, Inc. are each currently a private company. These securities are illiquid and valued at fair value.

(4)

Foreign security denominated in U.S. Dollars.

(5)

The PetroHunter Energy Corporation (“PetroHunter”) securities are in bankruptcy. The securities are valued at fair value.

(6)

Affiliated security, given that the security is managed by the same Investment Advisor as the Fund.

 

See accompanying Consolidated Notes to Financial Statements.

RENN Fund, Inc.

CONSOLIDATED NOTES TO FINANCIAL STATEMENTS

As of September 30, 2024 (Unaudited)

 

Investments in Affiliated Issuers

 

An affiliated issuer is an entity in which the Fund has ownership of at least 5% of the voting securities, or any investment which is advised or sponsored by the advisor. In this instance, affiliation is based on the fact that the Kinetics Spin-off and Corporate Restructuring Fund is advised by Horizon, the same Investment Advisor to the Fund. Issuers that are affiliates of the Fund at period-end are noted in the Fund’s Schedule of Investments. Additional security purchases and the reduction of certain securities shares outstanding of existing portfolio holdings that were not considered affiliated in prior years may result in the Fund owning in excess of 5% of the outstanding shares at period-end. The table below reflects transactions during the period with entities that are affiliates as of September 30, 2024, and may include acquisitions of new investments, prior year holdings that became affiliated during the period and prior period affiliated holdings that are no longer affiliated as of period-end.

 

																										Dividends and Distributions
Name of Issuer and Title of Issue		Value Beginning of Period				Purchases				Sales Proceeds				Net Realized Gain (Loss)				Change in Unrealized Appreciation (Depreciation)				Value End of Period				Capital Gains				Income
Kinetics Spin-off and Corporate
Restructuring Fund		$	15,293			$	-			$	-			$	-			$	8,430			$	23,723			$	-			$	-
Total		$	15,293			$	-			$	-			$	-			$	8,430			$	23,723			$	-			$	-

 

Name of Issuer and Title of Issue		Shares Beginning of Period				Purchases				Sales Proceeds				Stock Split				Shares End of Period
Kinetics Spin-off and Corporate
Restructuring Fund			824				-				-				-				824
Total			824				-				-				-				824

 

 

---