HORIZON KINETICS ASSET MANAGEMENT LLC 4

What Happened

• Horizon Kinetics Asset Management LLC (a disclosed 10% owner and the issuer's investment adviser) purchased 756 shares of RENN Fund, Inc. (RCG) in an open market or private purchase on 2026-07-13. The price was $3.00 per share for a total of $2,268. This was a purchase (buy), which is generally considered a more informative/positive signal than routine selling.

Key Details

• Transaction date: 2026-07-13; Filing date (Form 4): 2026-07-14 (filed promptly the next day).
• Transaction type/code: P = Purchase (open market or private purchase).
• Price/amount: 756 shares × $3.00 = $2,268 total.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote: HKAM serves as the investment adviser to the issuer and has pecuniary interests through accounts it manages; HKAM is a Delaware LLC and a wholly owned subsidiary of Horizon Kinetics Holding Corporation (institutional position, not an executive trade).
• No indication this was part of a 10b5-1 plan, option exercise, gift, or tax-related withholding in the provided details.

Context

• This is an institutional/investment-adviser purchase by a disclosed 10% owner rather than an individual officer or director. Such purchases can reflect the adviser managing client accounts rather than a personal vote of confidence by an executive. The filing appears timely (next-day filing).