RENN Fund, Inc.

Consolidated Schedule of Investments

As of March 31, 2024 (Unaudited)

 

Shares or Principal Amount   Company  Cost   Value 
     MONEY MARKET FUNDS – 34.63%          
 91,473   Fidelity Government Cash Reserves Portfolio - Institutional Class, 8.70%  $91,473   $91,473 
 4,731,896   Fidelity Investment Money Market Funds Government Portfolio - Institutional Class, 5.21%   4,731,896    4,731,896 
     Total Money Market Funds   4,823,369    4,823,369 
                
     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 – 64.21%          
     Accomodations – 0.39%          
 2,000   Civeo Corp.   54,150    53,700 
                
     Asset Management – 0.23%          
 973   Associated Capital Group, Inc. - Class A   40,594    31,827 
                
     Hospitality – 0.91%          
 7,300   Carnival Corp.(2)   104,635    119,282 
 50   Royal Caribbean Ltd.(2)   2,940    6,951 
         107,575    126,233 
                
     Metal Mining – 3.42%          
 580   Franco-Nevada Corp.   83,192    69,113 
 18,662   Mesabi Trust   513,530    330,317 
 1,640   Wheaton Precious Metals Corp.   68,954    77,293 
         665,676    476,723 
                
     Medicinal Chemicals and Botanical Products – 12.67%          
 77,228   FitLife Brands, Inc.(2)   9,131,687    1,764,660 
                
     Oil and Gas – 28.00%          
 1,400   Liberty Energy, Inc.   27,247    29,008 
 19,315   Permian Basin Royalty Trust   299,138    233,712 
 808,445   PetroHunter Energy Corporation(1)(2)(5)   101,056    - 
 16,300   PrairieSky Royalty Ltd.(4)   206,969    319,237 
 100   Sabine Royalty Trust   8,002    6,359 
 5,724   Texas Pacific Land Corp.   1,079,739    3,311,391 
         1,722,151    3,899,707 

 

 

     Other Financial Investment Activities – 2.08%          
 1   Morgan Group Holding Co.(2)   16    1 
 66,400   Urbana Corp.(4)   233,424    267,149 
 6,700   Urbana Corp. Class A   22,434    23,148 
         255,874    290,298 
                
     Securities and Commodity Exchanges – 2.32%          
 12,400   Bakkt Holdings, Inc.(2)   13,226    5,702 
 685   Cboe Global Markets, Inc.   80,892    125,855 
 3,000   CNSX Markets, Inc.(2)(3)   13,502    14,484 
 240   Intercontinental Exchange, Inc.   30,806    32,983 
 14,000   Miami International Holdings, Inc.(1)(2)(3)   105,000    144,200 
         243,426    323,224 
                
     Securities, Commodity Contracts, and Other Financial Investments and Related Activities – 3.32%          
 4   Grayscale Ethereum Classic Trust(2)   46    68 
 7,282   Grayscale Bitcoin Trust(2)   280,127    460,004 
 64   iShares Bitcoin Trust(2)   2,133    2,590 
         282,306    462,662 
                
     Live Sports (Spectator Sports) – 2.01%          
 5,091   Big League Advance, LLC.(1)(2)(3)   280,000    280,005 
                
     Surgical & Medical Instruments & Apparatus – 6.01%          
 615,000   Apyx Medical Corp.(2)   1,470,958    836,400 
                
     Technology Services – 2.85%          
 1,048   CACI International, Inc. – Class A. (2)   296,486    397,014 
                
     Total Common Equities   14,550,883    8,942,453 
                
     OPEN ENDED MUTUAL FUNDS – 0.12%          
 824   Kinetics Spin-Off and Corporate Restructuring Fund(6)   13,167    16,496 
     Total Open Ended Mutual Funds   13,167    16,496 
                
     PREFERRED STOCKS – 1.33%          
 30,966   Diamond Standard, Inc.(1)(2)(3)   185,798    185,798 
     Total Preferred Stocks   185,798    185,798 
                
     WARRANTS – 0.05%          
     Diamond Standard, Inc., Exercise Price: $9.00,           
 837   Expiration Date: January 15, 2026(1)(2)(3)   -    2 
     Miami International Holdings, Inc., Exercise Price: $7.50,           
 2,132   Expiration Date: March 31, 2026(1)(2)(3)   -    6,993 
     Total Warrants   -    6,995 
                
     TOTAL INVESTMENTS – 100.34%  $20,113,442   $13,975,111 
     LIABILITIES LESS OTHER ASSETS  –  -0.34%        (47,895)
     NET ASSETS - 100.00%       $13,927,216 

 

 

Shares or Principal Amount   Company  Proceeds   Value 
     SECURITIES SOLD SHORT – 0.03%          
     EXCHANGE TRADED FUNDS – 0.03%          
 (239)  Direxion Daily Gold Miners Index Bear 2X Shares ETF  $(2,913)  $(2,232)
 (280)  Direxion Daily Junior Gold Miners Index Bear 2X Shares ETF(2)   (1,875)   (1,374)
 (77)  Direxion Daily S&P Biotech Bear 3X Shares ETF   (612)   (561)
 (5)  ProShares Ultra VIX Short-Term Futures ETF(2)   (1,062)   (32)
 (7)  ProShares VIX Short-Term Futures ETF(2)   (304)   (91)
     Total Exchange Traded Funds   (6,766)   (4,290)
                
     EXCHANGE TRADED NOTES – 0.00%          
 (13)  iPath Series B S&P VIX Short-Term Futures ETN(2)  $(554)  $(169)
     Total Exchange Traded Notes   (554)   (169)
                
     TOTAL SECURITIES SOLD SHORT – 0.03%  $(7,320)  $(4,459)

 

(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.

 

 

RENN Fund, Inc.

CONSOLIDATED NOTES TO FINANCIAL STATEMENTS

As of March 31, 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 March 31, 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   $-   $-   $-   $1,203   $16,496   $-   $- 
                                         
Total  $15,293   $-   $-   $-   $1,203   $16,496   $-   $- 

 

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 

 

 

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