RENN Fund : 2024 Annual Shareholder Meeting Proxy Statement

RENN FUND, INC.

c/o Horizon Kinetics Asset Management LLC

470 Park Avenue South

New York, NY 10016

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

TO BE HELD ON Thursday, September 12, 2024

SOLICITATION OF PROXIES

To the Shareholders of RENN FUND, INC.

NOTICE IS HEREBY GIVEN that the Annual Meeting of Shareholders (the "Annual Meeting") of RENN Fund, Inc., a Texas corporation (the "Fund"), will be held at the offices of Horizon Kinetics Asset Management LLC (the "Advisor"), 470 Park Avenue South, 3rd Floor South, New York, NY 10016 on Thursday, September 12, 2024 at 2:00 pm EST. The Annual Meeting will also be held in a virtual format conducted via live audio webcast for the following purposes:

1. to elect Douglas J. Cohen as a Director of the Fund, who is to hold office for a term of one (1) year or until his successor is elected and qualified;
2. to elect Murray Stahl as a Director of the Fund, who is to hold office for a term of one (1) year or until his successor is elected and qualified;
3. to elect Russell Cleveland as a Director of the Fund, who is to hold office for a term of one (1) year or until his successor is elected and qualified;
4. to elect Alice C. Brennan as a Director of the Fund, who is to hold office for a term of one (1) year or until her successor is elected and qualified;
5. to elect Eric Sites as a Director of the Fund, who is to hold office for a term of one (1) year or until his successor is elected and qualified;
6. to elect Anita L. Allen as a Director of the Fund, who is to hold office for a term of one (1) year or until her successor is elected and qualified;
7. to elect Melinda J. Newman as a Director of the Fund, who is to hold office for a term of one
   (1) year or until her successor is elected and qualified;
8. to ratify the appointment by the Fund's Board of Directors of Tait, Weller & Baker LLP, as the auditor of the Fund for the fiscal year ending December 31, 2024;
9. to transact any and all other business that may properly be presented at the Annual Meeting or any adjournment(s).

The close of business on Monday, July 15, 2024, has been fixed as the record date for determining shareholders entitled to notice of and to vote at the Annual Meeting or any adjournment. The enclosed proxy is being solicited on behalf of the Board.

IMPORTANT NOTICE

The Annual Meeting is currently scheduled to take place in person, however, out of an abundance of caution and to proactively deal with potential issues arising from the public health impact of Coronavirus- 19 ("COVID"), the Annual Meeting will also be held in a virtual format conducted via live audio webcast online. The Fund strongly encourages all shareholders who wish to attend and participate in the Annual

Meeting to carefully follow the procedures described herein to ensure they can attend and participate in the Annual Meeting in person or virtually via live audio webcast online.

In order to participate in the Annual Meeting, shareholders must register by following this link https://register.gotowebinar.com/register/2749041193487678293Once registered, an email will be sent containing instructions on how to join the webinar either through the Internet or an audio connection. We encourage all shareholders to register in advance for the Annual Meeting. Shareholders will be able to listen, vote, and submit questions from their home or from any location. Questions may also be submitted in advance and emailed to [e-mail].

We suggest all shareholders submit their votes well in advance of the Annual Meeting. You may vote your shares: (1) by telephone; (2) via the Internet; or (3) by completing, signing, dating, and returning the accompanying proxy card in the enclosed, self-addressed,postage-paid envelope. Specific instructions for voting by telephone or via the Internet are on the accompanying proxy card. Prompt response by our shareholders will reduce the time and expense of solicitation. To ensure proper representation at the Annual Meeting, please complete, sign, date, and return the proxy card in the enclosed, self-addressed envelope.

You may revoke your proxy at any time prior to the Annual Meeting. If you decide to attend the Annual Meeting virtually and wish to change your vote, you may do so by faxing your completed proxy card to

1. 765-8730at the Annual Meeting. Even if you vote your shares prior to the Annual Meeting, you still may attend the Annual Meeting either in person or virtually.

By Order of the Board of Directors

/s/ JAY KESSLEN Jay Kesslen

Chief Compliance Officer New York, New York July 22, 2024

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RENN FUND, INC.

PROXY STATEMENT

FOR

ANNUAL MEETING OF SHAREHOLDERS

TO BE HELD ON THURSDAY, SEPTEMBER 12, 2024

SOLICITATION OF PROXIES

This Proxy Statement is being furnished to the shareholders of RENN Fund, Inc., a Texas corporation (the "Fund"). The Fund's Board of Directors is soliciting proxies to be voted at the Annual Meeting of Shareholders (the "Annual Meeting") to be held at the offices of Horizon Kinetics Asset Management LLC, 470 Park Avenue South, 3rd Floor South, New York, NY 10016 on Thursday, September 12, 2024, 2:00 pm Eastern Standard Time, and at any adjournment(s). The Annual Meeting will also be held in a virtual format conducted via live audio webcast. This Proxy Statement is being sent to Shareholders on or about July 26, 2024.

On June 6, 2024, the directors voted unanimously to amend the Bylaws of the Fund for the Directors Election and Term of Office. This was amended from a staggered term to an annual term. As per this amendment, all directors will now serve a one-year term and each year, shareholders shall elect the candidates annually.

The Board appointed two new directors, Anita L. Allen and Melinda J. Newman, on June 6, 2024, who, along with all directors, are up for election at this shareholder meeting.

The accompanying proxy card is designed to permit each shareholder to vote for or against, or to abstain from voting on, the proposals described in this Proxy Statement (collectively, the "Proposals"). When a shareholder's executed proxy card specifies a choice with respect to a voting matter, the shares will be voted accordingly. If no specifications are made, then the proxy will be voted by the persons serving as proxies at the Meeting FOR the Proposals:

1. to elect Douglas J. Cohen as a Director of the Fund, who is to hold office for a term of one (1) year or until his successor is elected and qualified;
2. to elect Murray Stahl as a Director of the Fund, who is to hold office for a term of one
   (1) year or until his successor is elected and qualified;
3. to elect Russell Cleveland as a Director of the Fund, who is to hold office for a term of one (1) year or until his successor is elected and qualified;
4. to elect Alice C. Brennan as a Director of the Fund, who is to hold office for a term of one (1) year or until her successor is elected and qualified;
5. to elect Eric Sites as a Director of the Fund, who is to hold office for a term of one (1) year or until his successor is elected and qualified;
6. to elect Anita L. Allen as a Director of the Fund, who is to hold office for a term of one (1) year or until her successor is elected and qualified;
7. to elect Melinda J. Newman as a Director of the Fund, who is to hold office for a term of one (1) year or until her successor is elected and qualified;
8. to ratify the appointment by the Fund's Board of Directors of Tait, Weller & Baker LLP, as the auditor of the Fund for the fiscal year ending December 31, 2024;

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9.to transact any and all other business that may properly be presented at the Annual Meeting or any adjournment(s).

The Board of Directors encourages shareholders to participate in the Annual Meeting either in person or virtually by registering in advance through the following link:

https://attendee.gotowebinar.com/register/2749041193487678293

Once registered, an email will be sent containing instructions on how to join the webinar either through the Internet or an audio connection. Shareholders will be able to listen, vote, and submit questions from any location. Questions may also be submitted in advance and emailed to [e-mail]. Executing and returning the accompanying proxy card will not affect a shareholder's right to attend the Annual Meeting. Any shareholder who was given a proxy has the right to revoke it at any time before it is voted by giving written notice of revocation prior to the date of the meeting to Corporate Secretary, RENN Fund, Inc., c/o Horizon Kinetics Asset Management, LLC, 470 Park Avenue South, 3rd Floor South, New York, NY 10016, by executing and delivering a later-dated proxy. No revocation notice or later-dated proxy, however, will be effective until received by the Fund at, or prior to, the Annual Meeting. Revocation will not affect a vote on any matters taken prior to the receipt of the revocation. Mere in person or virtual attendance at the Annual Meeting will not by itself revoke the proxy.

In addition to soliciting proxies by mail, officers and Directors of the Fund and officers, directors, and employees of the Adviser may solicit the return of proxies by mail, telephone, and facsimile. These persons will not receive additional compensation for their services but will be reimbursed for out-of-pocket expenses by Horizon Kinetics Asset Management LLC. After the date of this Proxy Statement, but prior to the date of the Annual Meeting, the Fund may engage a proxy solicitation firm at a cost to be negotiated but paid for by Horizon Kinetics Asset Management LLC. Brokerage houses and other custodians, nominees, and fiduciaries will be requested by the Fund to forward solicitation material to the beneficial owners of shares. Horizon Kinetics Asset Management LLC will pay all costs of solicitation.

You may obtain copies of the Fund's proxy materials and of its Annual Shareholders Report for the year ended December 31, 2023, from the Fund's website at https://horizonkinetics.com/products/closed-end-funds/renn/or you may call EQ, our transfer agent, at 1-[phone] or 201-299-6210 for international callers, and request that a copy be mailed to you free of charge.

The Fund's principal offices are located at 470 Park Avenue South, 3rd Floor South, New York, New York 10016, which is the current address of Horizon Kinetics Asset Management LLC. Shareholders will be allowed entry into this location or may participate virtually at the Annual Meeting by following the instructions contained herein.

PURPOSES OF THE MEETING

At the Annual Meeting, shareholders will consider and vote upon the following matters:

• to elect Douglas J. Cohen as a Director of the Fund, who is to hold office for a term of one (1) year or until his successor is elected and qualified;
• to elect Murray Stahl as a Director of the Fund, who is to hold office for a term of one (1) year or until his successor is elected and qualified;
• to elect Russell Cleveland as a Director of the Fund, who is to hold office for a term of one (1) year or until his successor is elected and qualified;
• to elect Alice C. Brennan as a Director of the Fund, who is to hold office for a term of one (1) year or until her successor is elected and qualified;

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• to elect Eric Sites as a Director of the Fund, who is to hold office for a term of one (1) year or until his successor is elected and qualified;
• to elect Anita L. Allen as a Director of the Fund, who is to hold office for a term of one (1) year or until her successor is elected and qualified;
• to elect Melinda J. Newman as a Director of the Fund, who is to hold office for a term of one
  (1) year or until her successor is elected and qualified;
• to ratify the appointment by the Fund's Board of Directors of Tait, Weller & Baker LLP, as the auditor of the Fund for the fiscal year ending December 31, 2024;
• to transact any and all other business that may properly be presented at the Annual Meeting or any adjournment(s).

RECORD DATE AND SHARE OWNERSHIP

The close of business on Monday, July 15, 2024, has been fixed as the record date (the "Record Date") for determining shareholders entitled to notice of and to vote at the Annual Meeting and any adjournment. At the close of business on July 15, 2024, the Fund had outstanding 7,015,786 shares of common stock held by approximately 285 registered owners and 1,338 beneficial owners.

QUORUM REQUIRED

A quorum must be present at the Annual Meeting for any business to be conducted. The presence at the Annual Meeting, in person, virtually, or by proxy, of the holders of a majority of all the shares entitled to vote at the Annual Meeting will constitute a quorum. Abstentions will be treated as shares present for quorum purposes. Shares held in street name for which the broker has not received voting instructions from the record holder and does not have discretionary authority to vote the shares on certain Proposals (which are considered "Broker Non-Votes" with respect to such Proposals) will be treated as shares present for quorum purposes.

If a quorum is not present at the Annual Meeting, the shareholders who are represented may adjourn the Annual Meeting until a quorum is present. The persons named as proxies will vote those proxies for such adjournment, unless marked to be voted against any Proposal for which an adjournment is sought, to permit the further solicitation of proxies.

VOTE REQUIRED

Each share of common stock of the Fund is entitled to one vote on each matter to be voted upon at the Annual Meeting. The common stock is the only class of securities of the Fund entitled to vote at the Annual Meeting. A shareholder is entitled to vote all shares of common stock held of record at the close of business on the Record Date, in person, virtually, or by proxy, at the Annual Meeting. There are no cumulative voting rights. All votes will be tabulated by the Inspector of Elections appointed for the meeting, who will separately tabulate affirmative and negative votes, abstentions, and broker non-votes.

Approval of the election of the Director (Proposal One). The affirmative vote of a majority of the votes cast at the Annual Meeting is sufficient to independently elect Douglas J. Cohen as a Director. Broker non- votes, if any, and abstentions will not be considered votes cast, and therefore will have no effect on the outcome of the election of the nominees.

Approval of the election of the Director (Proposal Two). The affirmative vote of a majority of the votes cast at the Annual Meeting is sufficient to independently elect Murray Stahl as a Director. Broker non- votes, if any, and abstentions will not be considered votes cast, and therefore will have no effect on the outcome of the election of the nominees.

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Approval of the election of the Director (Proposal Three). The affirmative vote of a majority of the votes cast at the Annual Meeting is sufficient to independently elect Russell Cleveland as a Director. Broker non- votes, if any, and abstentions will not be considered votes cast, and therefore will have no effect on the outcome of the election of the nominees.

Approval of the election of the Director (Proposal Four). The affirmative vote of a majority of the votes cast at the Annual Meeting is sufficient to independently elect Alice C. Brennan as a Director. Broker non- votes, if any, and abstentions will not be considered votes cast, and therefore will have no effect on the outcome of the election of the nominees.

Approval of the election of the Director (Proposal Five). The affirmative vote of a majority of the votes cast at the Annual Meeting is sufficient to independently elect Eric Sites as a Director. Broker non-votes, if any, and abstentions will not be considered votes cast, and therefore will have no effect on the outcome of the election of the nominees.

Approval of the election of the Director (Proposal Six). The affirmative vote of a majority of the votes cast at the Annual Meeting is sufficient to independently elect Anita L. Allen as a Director. Broker non- votes, if any, and abstentions will not be considered votes cast, and therefore will have no effect on the outcome of the election of the nominees.

Approval of the election of the Director (Proposal Seven). The affirmative vote of a majority of the votes cast at the Annual Meeting is sufficient to independently elect Melinda J. Newman as a Director. Broker non-votes, if any, and abstentions will not be considered votes cast, and therefore will have no effect on the outcome of the election of the nominees.

Ratification of the Board's appointment of auditor of the Fund for the 2024 fiscal year (Proposal Eight). The affirmative vote of a majority of the shares present, in person, virtually, or by proxy, and entitled to vote at the Annual Meeting is required for the ratification of the selection of the Fund's independent auditor. An abstention will have the effect of a vote against the ratification of the appointment of Tait, Weller & Baker LLP, as the Fund's independent auditor. Shares represented by broker non-votes, if any, will not be considered entitled to vote on this Proposal, and therefore will not have any effect on the outcome of the vote to ratify the appointment of the auditor.

Broker-dealers are prohibited from voting on certain matters for which they have not received voting instructions from the beneficial owners of shares held in street name. Proxies submitted by brokers for non- routine proposals are considered "broker non-votes" with respect to such matters, and the shares represented by those proxies will not be considered entitled to vote on such matters but will be deemed present at the Annual Meeting for purposes of establishing a quorum. Under applicable stock exchange rules, broker- dealers are permitted to vote, in their discretion, on certain routine matters, such as the ratification of the appointment of auditors. Therefore, the Fund does not expect that there will be any broker non-votes on Proposal One through Seven.

Additional solicitation. If there are not enough votes to approve any Proposals at the Annual Meeting, the shareholders who are present or represented may adjourn the Annual Meeting to permit the further solicitation of proxies. The persons named as proxies will vote those proxies for such adjournment, unless marked to be voted against any Proposal for which an adjournment is sought to permit, the further solicitation of proxies. Also, a shareholder vote may be taken on any of the Proposals in this Proxy Statement prior to any such adjournment if there are sufficient votes for approval of such Proposal.

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VOTING ELECTRONICALLY VIA THE INTERNET OR BY TELEPHONE

In lieu of mailing in the proxy card, shareholders whose shares are registered in their own names may vote either via the Internet or by telephone. Specific instructions to be followed by any registered shareholder interested in voting via the Internet or by telephone are set forth on the enclosed proxy card. The Internet and telephone voting procedures are designed to authenticate the shareholder's identity and to allow shareholders to vote their shares and confirm that their voting instructions have been properly recorded.

If your shares are registered in the name of a bank or brokerage firm, you may be eligible to vote your shares electronically over the Internet or by telephone. A large number of banks and brokerage firms are participating in the Broadridge Investor Communications Services online program, which provides eligible street-name shareholders the opportunity to vote via the Internet or by telephone. If your bank or brokerage firm is participating in that program, they will furnish you with a proxy card with instructions. If your proxy card does not reference Internet or telephone information, please complete and return the proxy card in the self-addressed,postage-paid envelope provided. To vote in person at the Annual Meeting, you must first obtain a valid legal proxy from your broker, bank or other agent and then register in advance to attend the Annual Meeting. Follow the instructions from your broker or bank included with these proxy materials or contact your broker or bank to request a legal proxy form.

After obtaining a valid legal proxy from your broker, bank or other agent, to then register to attend the Annual Meeting, you must submit proof of your legal proxy reflecting the number of your shares along with your name and email address to EQ. Requests for registration should be directed to [e-mail] to facsimile number 718-765-8730. Written requests can be mailed to:

EQ

PO Box 500

Newark, NJ 07101

Requests for registration must be labeled as "Legal Proxy" and be received no later than 5:00 p.m., Eastern Time, on September 2, 2024. You will receive a confirmation of your registration by email after we receive your registration materials.

You may attend the Annual Meeting in person or attend virtually. You must register first at https://attendee.gotowebinar.com/register/2749041193487678293.Once registered, an email will be sent containing instructions on how to join the webinar either through the Internet or an audio connection. Shareholders will be able to listen, vote, and submit questions from their home or from any location. Questions may be submitted in advance and emailed to [e-mail]. We encourage you to register for the meeting prior to the start time leaving ample time for the check in.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth certain information known to the Fund with respect to beneficial ownership of the Fund's common stock as of June 30, 2024, for: (i) all persons who are beneficial owners of more than 5% of the outstanding shares of the Fund's common stock; (ii) each Director and nominee for

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Director of the Fund; and (iii) all executive officers and Directors of the Fund as a group. The Fund has no officers other than the individuals named in the table below.

Name of Beneficial Owners1	Number	of	Shares	Percent of
	Beneficially		Owned	Class
	Directly or Indirectly
Russell Cleveland, Director2	359,6183			5.13%
Murray Stahl, Director, President, Chief Executive Officer,	561,5864			8.00%
Chairman of the Board and CFO
Eric Sites, Director	2,667			0.04%
Alice C. Brennan, Director	1,334			0.02%
Douglas J Cohen, Director	500			0.01%
Anita L. Allen, Director	300			0.004%
Melinda J. Newman, Director	2,000			0.03%
Peter B Doyle, Co-Portfolio Manager	13,3345			0.19%
Steven M Bregman, Co-Portfolio Manager	4,934			0.07%
Jay Kesslen, Vice-President, Chief Compliance Officer	40,363			0.58%
Alun Williams, Treasurer	1,100			0.02%
Russ Grimaldi, Secretary	400			0.01%
Foxhunt Crescent, LP6	618,495			8.82%
Total	1,606,631			22.90%
(13 persons)

None of the above individuals beneficially owns equity securities in registered investment companies within the same Family of Investment Companies as the Fund. A "Family of Investment Companies" is two or more registered investment companies that share the same investment adviser and hold themselves out to investors as related companies for purposes of investment and investment services. The Fund is not currently grouped with any such companies. None of the above individuals directly or indirectly owns beneficially or of record any class of securities of any entity controlling, controlled by, or under common control with the Adviser, other than as disclosed above regarding the Fund.

1. The address of all persons named in the table, with the exception of Foxhunt Crescent, LP, is c/o Horizon Kinetics Asset Management LLC, 470 Park Avenue South, 4th Fl South, New York, New York 10016.
2. Mr. Cleveland is an "interested person" of the Fund as defined by Section 2(a)(19) of the 1940 Act by virtue of being a limited partner in the Cleveland Family Limited Partnership, which owns more than 5% of the Fund's securities.
3. All shares are owned by the Cleveland Family Limited Partnership, of which Mr. Cleveland is the managing partner and also a limited partner.
4. Mr. Stahl along with his wife have a direct ownership interest in 5,802 shares, all of which were purchased with personal funds. Mr. Stahl has an indirect ownership interest in approximately 555,784 shares. These shares were purchased with funds from the accounts that purchased such shares, which includes funds deposited by other investors including Mr. Stahl. Mr. Stahl disclaims beneficial ownership, except to the extent of his pecuniary interest over the remaining shares.
5. These shares are held by Mr. Doyle's spouse.
6. https://www.sec.gov/Archives/edgar/data/919567/000167555023000001/fc13ga23.txt

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PROPOSALS ONE, TWO, THREE, FOUR, FIVE, SIX, AND SEVEN

ELECTION OF DIRECTORS

Pursuant to the Fund's Restated Articles of Incorporation and Bylaws, the Board of Directors is to consist of no less than three Directors and no more than ten Directors, the number of which may be increased or decreased from time to time by resolution adopted by a majority of the Board.

The term of office for a Director shall be one year ("Term"). Thereafter, at each annual meeting, the shareholders shall elect the candidates to fill the vacancy of all Directors annually. In the event that the number of Directors is increased, the Term of office of such added directorships shall be one year. In the event that the number of Directors is decreased, the remaining Directors shall serve their Term as elected. At each annual election, the persons receiving a majority of votes shall be the Directors. The Director so elected shall hold office for the Term provided and until his or her successor is elected and qualified or until his or her earlier death, resignation, disqualification, or removal.

The nominee for Director who receive the majority of the votes cast for the directorship will be elected.

INFORMATION CONCERNING NOMINEES AND CONTINUING DIRECTOR

Term of Office. The term of office for all Directors expires at this Annual Meeting. The term of office for all Directors is one year.

										Portfolios in Fund
				Position(s) Held with the Fund, Principal			Current Term			Complex8
	Name7			Occupation(s) During Past 5 Years, and Other					Overseen by
					and Time Served
				Directorships					Director or
										Nominee
	Interested Directors:
	Russell		Director of the Fund (principal occupation)		Annual/Since		One
	Cleveland9		1994
							Until 2025
	Age 85					Annual
					Meeting/Since
						1994
				Other Directorships:
				Former Director of AnchorFree, Inc.	2012 - 2018
				Former Director of iSatori, Inc., formerly a Portfolio	2003 - 2015
				company (nutraceutical preparations)

1. The address of all persons named in the table is c/o Horizon Kinetics Asset Management LLC, 470Park Avenue South, New York, New York 10016.
2. The term "Fund Complex" means all 1940-Act-registered investment funds, or separate portfolios of such a fund, which share a common investment adviser (or have investment advisers that are affiliated persons) or which hold themselves out to investors as related companies for purposes of investment and investment services. The Fund is not grouped into a Fund Complex with other 1940-Act-registered investment funds.
3. Mr. Cleveland is currently considered an "interested person" of the Fund as defined by Section 2(a)(19) of the 1940 Act by virtue of being a limited partner in the Cleveland Family Limited Partnership, which owns more than 5% of the Fund's securities.

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Murray Stahl10

Age 70

Eric Sites10

Former Director of Cover-All Technologies, Inc., a non-portfolio public company

Former Director of Access Plans, Inc. (dir. mail/advert)

Former Director of BPO Management Services, Inc. (business process outsourcing)

Former Director of CaminoSoft (systems software)

Chairman, President, CEO of the Fund

Chairman, Chief Executive Officer and Chief Investment

Strategist of Horizon Kinetics LLC (Principal occupation)

Other Directorships:

Chairman, the FRMO Corp. (OTC Pink: FRMO)

Director, Texas Pacific Land Corporation (royalty co.)

Director, Bermuda Stock Exchange (stock exchange) Chairman,

Director, Minneapolis Grain Exchange (commodity exchange)

Director, MSRH, LLC (investment advisory)

Director, Winland Electronics, Inc. (environmental monitoring)

Director, IL&FS Securities Services Ltd (securities market services)

Director of the Fund

2003 - 2015

2008 - 2009

2006 - 2011

2004 - 2011

Annual/Since

2017 Until 2025 Annual Meeting/Since 2017

Annual/Since

1994

Since 2001

Since 2021

Since 2014

Since 2013

Since 2013

2015 - 2020

2008 - 2020

Until 2025

Annual

Twelve

One

10 Horizon Kinetics Asset Management LLC is the investment adviser to the Fund and Mr. Stahl and Mr. Sites are "interested persons" of the Fund as defined in Section 2(a)(19) of the 1940 Act by virtue of being officers and directors of Horizon Kinetics Asset Management LLC, and in Mr. Stahl's case, a director and beneficial owner of outstanding securities of Horizon Kinetics Asset Management LLC.

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