NPORT-EX 2 fp0083666-1_nportex.htm PART F

RENN Fund, Inc.

Consolidated Schedule of Investments

As of March 30, 2023 (Unaudited)

Shares or Principal Amount		Company	Cost		Value
		MONEY MARKET FUNDS – 33.97%
	85,656	Fidelity Government Cash Reserves Portfolio - Institutional Class, 4.51%	$	85,656	$	85,656
	4,720,353	Fidelity Investment Money Market Funds Government Portfolio - Institutional Class, 4.72%		4,720,352		4,720,352
		Total Money Market Funds		4,806,008		4,806,008

		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 – 64.15%
		Accomodations – 0.59%
	4,050	Civeo Corp.⁽²⁾		149,418		83,633

		Aerospace & Defense – 0.03%
	20	Boeing Co.⁽²⁾		4,267		4,249

		Asset Management – 1.21%
	973	Associated Capital Group, Inc. - Class A		40,594		35,952
	7,098	Gamco Investors, Inc.		189,620		134,507
				230,214		170,459

		Communication Services – 0.01%
	100	Rumble, Inc.⁽²⁾		1,206		1,000

		Hospitality – 0.26%
	3,300	Carnival Corp.⁽²⁾		36,634		33,495
	50	Royal Caribbean Ltd.⁽²⁾		2,940		3,265
				39,574		36,760

		Marine Shipping – 0.08%
	300	Clarkson PLC⁽⁴⁾		16,197		11,436

		Metal Mining – 4.45%
	580	Franco-Nevada Corp.		83,192		84,564
	18,650	Mesabi Trust		499,731		469,607
	1,560	Wheaton Precious Metals Corp.		65,121		75,130
				648,044		629,301

		Medicinal Chemicals and Botanical Products – 9.14%
	77,228	FitLife Brands, Inc.⁽²⁾		9,131,688		1,293,570

		Oil and Gas – 28.15%
	19,315	Permian Basin Royalty Trust		291,622		471,286
	808,445	PetroHunter Energy Corporation^(1)(2)(5)		101,056		-
	16,300	PrairieSky Royalty Ltd.⁽⁴⁾		206,969		258,098
	100	Sabine Royalty Trust		8,002		7,181
	1,908	Texas Pacific Land Corp.		1,079,739		3,245,546
				1,687,388		3,982,111

	Other Financial Investment Activities – 0.43%
1	Morgan Group Holding Co.⁽²⁾		16		1
21,800	Urbana Corp.⁽⁴⁾		69,286		60,488
			69,302		60,489

	Real Estate – 0.47%
3,600	Tejon Ranch⁽²⁾		68,859		65,772

	Securities and Commodity Exchanges – 1.80%
685	Cboe Global Markets, Inc.		80,892		91,954
204	CME Group, Inc.		46,086		39,070
240	Intercontinental Exchange, Inc.		30,806		25,030
14,000	Miami International Holdings, Inc.^(1)(2)(3)		105,000		98,980
			262,784		255,034

	Securities, Commodity Contracts, and Other Financial Investments and Related Activities – 0.83%
7,200	Grayscale Bitcoin Trust⁽²⁾		277,162		117,792

	Live Sports (Spectator Sports) – 1.98%
5,091	Big League Advance, LLC.^(1)(2)(3)		280,000		280,005

	Surgical & Medical Instruments & Apparatus – 12.52%
615,000	Apyx Medical Corp.⁽²⁾		1,470,958		1,771,200

	Technology Services – 2.20%
1,048	CACI International, Inc. – Class A. ⁽²⁾		296,485		310,501

	Total Common Equities		14,633,546		9,073,311

	EXCHANGE TRADED FUNDS – 0.06%
124	ProShares Short VIX Short-Term Futures ETF⁽²⁾		7,201		7,905
	Total Exchange Traded Funds		7,201		7,905

	OPEN ENDED MUTUAL FUNDS – 0.12%
824	Kinetics Spin-Off and Corporate Restructuring Fund⁽⁶⁾		13,167		17,040
	Total Open Ended Mutual Funds		13,167		17,040

	PREFERRED STOCKS – 1.31%
30,966	Diamond Standard, Inc.^(1)(2)(3)		185,798		185,798
	Total Preferred Stocks		185,798		185,798

	WARRANTS – 0.02%
	Diamond Standard, Inc., Exercise Price: $9.00,
837	Expiration Date: January 15, 2026^(1)(2)(3)		-		17
	Miami International Holdings, Inc., Exercise Price: $7.50,
2,132	Expiration Date: March 31, 2026^(1)(2)(3)		-		2,942
	Total Warrants		-		2,959

	TOTAL INVESTMENTS – 99.63%	$	20,185,944	$	14,093,022
	OTHER ASSETS LESS LIABILITIES – 0.37%				52,778
	NET ASSETS - 100.00%			$	14,145,800

Shares or Principal Amount			Company	Proceeds			Value
			SECURITIES SOLD SHORT – 0.00%
			EXCHANGE TRADED FUNDS – 0.00%
	(13	)	Direxion Daily Gold Miners Index Bear 2X Shares ETF	$	(213	)	$	(140	)
	(14	)	Direxion Daily Junior Gold Miners Index Bear 2X Shares ETF⁽²⁾		(135	)		(83	)
	(17	)	ProShares Ultra VIX Short-Term Futures ETF⁽²⁾		(1,160	)		(79	)
	(11	)	ProShares VIX Short-Term Futures ETF⁽²⁾		(109	)		(100	)
			Total Exchange Traded Funds		(1,617	)		(402	)

			EXCHANGE TRADED NOTES – 0.00%
	(5	)	iPath Series B S&P VIX Short-Term Futures ETN⁽²⁾	$	(245	)	$	(225	)
			Total Exchange Traded Funds		(245	)		(225	)

			TOTAL SECURITIES SOLD SHORT – 0.00%	$	(1,862	)	$	(626	)

⁽¹⁾	See Annual Report Note 5 - Fair Value Measurements.

⁽²⁾	Non-Income Producing.

⁽³⁾	Big League Advance, LLC., 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, 2023 (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, 2023 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.

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
Kinetics Spin-off and Corporate
Restructuring Fund	$	17,189	$	-	$	-	$	-	$	(149	)	$	17,040

Total	$	17,189	$	-	$	-	$	-	$	(149	)	$	17,040

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