UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): ~~January~~ 29June 23, ~~2020~~2021

RENN Fund, Inc.

(Exact name of Registrant as specified in its charter)

Texas	811-22299	75-2533518
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification No.)

470 Park Avenue South,
New York, NY 10016
(914) 703-6904
(Address of principal executive offices)

Registrant’s telephone number, including area code: (914) 703-6904

8080 N. Central Expressway, Suite 210, LB-59

Dallas, TX 75206-18957

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ]

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
N/A	N/A	N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

[ ]

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

Item 8.01

Other Events.

The Renn Fund, Inc.

(the “Fund”)

Effective immediately, ~~the~~Steven ~~Fund~~Bregman ~~has revised its principal investment strategies to allow the Fund to engage in selling stocks, exchange traded funds (“ETFs”),~~ and ~~exchange~~Peter ~~traded notes (“ETNs”) short. Short selling involves the sale of borrowed securities. When the Fund sells~~Doyle ahave ~~stock~~been ~~short,~~added ~~it incurs an obligation~~ to ~~replace~~ the ~~stock~~portfolio ~~borrowed~~team atresponsible ~~whatever its price may be at the time it purchases the stock~~ for ~~delivery~~managing to the ~~securities lender. The~~ Fund ~~will sell stocks~~, ~~ETFs,~~both ~~and~~of ~~ETNs~~whom ~~short~~shall ~~for~~serve ~~direct~~as ~~investment~~co-managers inalong ~~order~~with toMurray Stahl, ~~generate~~who ~~capital~~has ~~appreciation~~served ~~and/or~~as ~~for hedging purposes. Certain of~~ the ~~ETFs~~sole ~~and~~portfolio ~~ETNs~~manager ~~sold~~since ~~short~~July ~~by the Fund may be leveraged/inverse ETFs and ETNs~~2017.

Steven M. Bregman is a Co-Portfolio Manager of the Fund. Steven is the President of Horizon Kinetics LLC and is a co-founder of the Firm. He is a senior member of the Firm’s research team, a member of the Investment Committee and Board, and supervises all research reports produced by the Firm. As one of the largest independent research firms, Horizon Kinetics focuses on structurally inefficient market sectors, including domestic spin-offs, global spin-offs (The ~~following~~Spin-Off ~~are~~Report ~~additional~~and ~~risk~~(Global ~~factors~~Spin-Off inReport), distressed debt (Contrarian Fixed Income) ~~connection~~and short sale candidates (Devil’s Advocate), among others. Steve is also the President and Chief Financial Officer of FRMO Corp., a publicly traded company with interests in Horizon Kinetics, and is a member of the ~~above-referenced~~Board ~~investment~~of ~~strategy~~Directors ~~change:~~of Winland Electronics, Inc. He received a BA from Hunter College, and his CFA® Charter in 1989.

~~Short-Selling~~Peter ~~Risk: The Fund can sell securities short to the maximum extend permitted under the Investment Company Act of 1940 (the “1940 Act”)~~B. ~~A short sale by the Fund involves borrowing a security from a lender which~~ Doyle is ~~then sold in the open market. At~~ a ~~future date,~~Co-Portfolio ~~the~~Manager ~~security~~of ~~is repurchased by~~ the Fund ~~and returned to the lender~~. ~~While~~Peter ~~the security~~ is ~~borrowed,~~a ~~the~~Managing ~~proceeds~~Director ~~from the sale are deposited with the lender~~ and ~~the~~co-founder ~~Fund may be required to pay interest and/or the equivalent~~ of ~~any~~Horizon ~~dividend~~Kinetics ~~payments paid~~LLC. byHe ~~the~~is ~~security~~a tosenior ~~the~~member ~~lender. If the value~~ of the ~~security declines between the time the Fund borrows the security and the~~ ~~time~~research itteam, ~~repurchases~~ and ~~returns the security to the lender, the Fund makes~~ a ~~profit~~member onof the ~~difference~~Investment ~~(less~~Committee ~~any~~and ~~expenses~~ the ~~Fund is required to pay the lender)~~Board. ~~There~~Peter is ~~no assurance that~~ a ~~security~~Co-Portfolio ~~will~~Manager ~~decline~~for inseveral ~~value~~registered ~~during~~investment companies, ~~the~~private ~~period~~funds, ~~of the short sale~~ and ~~make~~institutional aseparate ~~profit~~accounts. ~~for~~He ~~the~~is ~~Fund.~~also Ifresponsible ~~the~~for ~~value~~oversight of the ~~security~~Firm’s ~~sold~~marketing ~~short increases between the time that the Fund borrows the security~~ and sales ~~the~~activities ~~time it repurchases~~ and ~~returns~~is the ~~security~~Vice toPresident ~~the~~of ~~lender,~~FRMO ~~the~~Corp. ~~Fund~~Previously, ~~will~~Peter ~~realize~~was awith ~~loss~~Bankers onTrust ~~the~~Company ~~difference~~ (~~plus any expenses the Fund is required to pay to the lender~~1985-1994). ~~This loss is theoretically unlimited~~ as ~~there~~a isSenior noInvestment Officer, ~~limit~~where ashe toalso ~~how~~served ~~high~~on the ~~security sold short can appreciate in value~~Finance, ~~thus~~Utility ~~increasing~~and ~~the~~REIT ~~cost~~Research ofsub-group ~~buying~~teams. ~~that~~Peter ~~security~~received ~~to cover~~ a ~~short~~BS ~~position~~from St. ~~The~~John’s ~~Fund may incur~~University ~~expenses in selling securities short~~ and ~~such~~an ~~expenses~~MBA ~~are~~from ~~investment~~Fordham ~~expenses of the Fund~~University.

Investments in Leveraged/Inverse ETFs and ETNs: The Fund may invest long or short in leveraged/inverse ETFs and ETNs. Leveraged/inverse ETFs and ETNs are designed for investors who seek leveraged long or leveraged inverse exposureAdditionally, ~~as applicable, to~~ the ~~daily~~following ~~performance~~are ofadditional anrisk ~~index. These~~factors ~~instruments~~in doconnection ~~not~~with ~~guarantee~~recent ~~any~~investments ~~return~~by of principal and do not pay any interest during their term. In general, investors will be entitled to receive a cash payment, upon early redemption or upon acceleration, as applicable, that will be linked to the ~~performance of an underlying index~~Fund, ~~plus~~which acollectively ~~daily~~represent ~~accrual and~~ less athan ~~daily~~one ~~investor~~percent fee. Investors should be willing to forgo interest payments and, if the index on which the ETF or ETN is based declines or increases, as applicable, be willing to lose up to 100% of their investment. In many instances a leveraged or inverse ETF or ETN will seek to provide an investor with a corresponding multiple of the index it tracks (~~e.g., a three times leveraged long ETF that tracks the S&P 500 Index seeks to provide investors with three times the positive rate of return of the S&P 500 Index on a daily basis~~1%). ~~Such ETFs and ETNs are very sensitive to changes in the level~~ of ~~their corresponding index, and returns may be negatively impacted in complex ways by~~ the ~~volatility~~Fund’s ofnet ~~the corresponding index on a daily or intraday basis.~~assets:

The Fund holds investments that provide exposure to Litecoin and The Grayscale Litecoin Trust (LTCN). Litecoin is a digital asset or cryptocurrency. The value of Litecoin is determined by the supply of and demand for Litecoins in the global market for the trading of litecoins, which consists of transactions on electronic Litecoin exchanges (“Litecoin Exchanges”). Pricing on Litecoin Exchanges and other venues can be volatile and can adversely affect the value of the litecoin. Currently, there is relatively small use of Litecoins in the retail and commercial marketplace in comparison to the relatively large use of Litecoins by speculators, thus contributing to price volatility that could adversely affect a portfolio’s direct or indirect investments in Litecoin. Litecoin transactions are irrevocable, and stolen or incorrectly transferred Litecoins may be irretrievable. As a result, any incorrectly executed Litecoin transactions could adversely affect the value of a portfolio’s direct or indirect investment in Litecoin. Only investors who can appreciate the risks associated with an investment should invest in cryptocurrencies or products that offer cryptocurrency exposure. As with all investments, investors should consult with their investment, legal and tax professionals before investing, as you may lose money.

The Fund holds investments that provide exposure to Ethereum Classic and the Grayscale Ethereum Classic Trust (ETCG). The value of Ethereum Classic is determined by the supply of and demand for Ethereum Classic in the global market for the trading of Ethereum Classic, which consists of transactions on electronic Ethereum Classic exchanges (“Ethereum Classic Exchanges”). Pricing on Ethereum Classic Exchanges and other venues can be volatile and can adversely affect the value of the Ethereum Classic. Currently, there is relatively small use of Ethereum Classic in the retail and commercial marketplace in comparison to the relatively large use of Ethereum Classic by speculators, thus contributing to price volatility that could adversely affect a portfolio’s direct or indirect investments in Ethereum Classic. Ethereum Classic transactions are irrevocable, and stolen or incorrectly transferred Ethereum Classic may be irretrievable. As a result, any incorrectly executed Ethereum Classic transactions could adversely affect the value of a portfolio’s direct or indirect investment in Ethereum Classic. Only investors who can appreciate the risks associated with an investment should invest in cryptocurrencies or products that offer cryptocurrency exposure. As with all investments, investors should consult with their investment, legal and tax professionals before investing, as you may lose money.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	RENN Fund, Inc.
Date: January 29, 2020	By:	/s/ Jay Kesslen
Date: June 23, 2021	By:	/s/ Jay Kesslen
		Jay Kesslen
		Vice President, Chief Compliance Officer

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