HORIZON KINETICS ASSET MANAGEMENT LLC 4

What Happened

• Horizon Kinetics Asset Management LLC, identified as a 10% owner and the investment adviser to RENN Fund (RCG), purchased 756 shares of RCG in an open-market/private purchase on July 27, 2026.
• The shares were acquired at $3.03 per share for a total reported cost of $2,291. This was a purchase (a net buy), which some investors view as a modestly bullish signal compared with insider selling.

Key Details

• Transaction date and price: 2026-07-27 — 756 shares at $3.03 each.
• Total value: $2,291 (reported).
• Shares owned after transaction: not specified in the summary filing provided.
• Footnote: Horizon Kinetics Asset Management LLC serves as the investment adviser to the issuer and has a pecuniary interest in shares held across accounts it manages (see footnote F1).
• Filing: Form filed 2026-07-28 for a 2026-07-27 transaction (filed the next day; no late-filing flag indicated).

Context

• This is institutional/adviser activity by a 10% owner rather than trading by an individual executive or director. The filing notes a pecuniary interest in accounts managed by the adviser, so purchases may reflect client or managed-account activity rather than personal bets by a manager. Purchases can be informative, but institutional adviser trades do not necessarily indicate management-level conviction.