RENN Fund (RCG) 10% Owner Horizon Kinetics Buys 756 Shares

What Happened
Horizon Kinetics Asset Management LLC, reported as a 10% owner and the fund’s investment adviser, made an open-market purchase of 756 shares of RENN Fund, Inc. (RCG) on 2026-09-25 at $3.02 per share, totaling about $2,283. This was a purchase (code P), which is generally more informative than a sale but does not by itself indicate the adviser’s motivation.

Key Details

• Transaction date and type: 2026-09-25 — Open market purchase (P)
• Price and quantity: 756 shares at $3.02 each; total ≈ $2,283
• Filing date: Form 4 filed 2026-09-28 — filed within the standard two-business-day window for Form 4s (timely)
• Shares owned after transaction: Not specified in the filing
• Footnote: The filing notes Horizon Kinetics Asset Management LLC is a Delaware adviser and has a pecuniary interest in shares held in various accounts it manages (institutional ownership, not an individual officer)

Context
This transaction represents an institutional purchase by an investment adviser managing client accounts, not a personal trade by an executive. Such buys can reflect portfolio allocation or client-directed activity rather than the adviser’s personal market view. The dollar amount here is modest (~$2.3K), so it’s a small allocation move rather than a large-scale position change.