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        <name>Direxion Daily Energy Bear 2X</name>
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        <name>Grayscale Ethereum Classic Tru</name>
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        <name>Grayscale Bitcoin Trust ETF</name>
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        <name>Hawaiian Electric Industries I</name>
        <lei>JJ8FWOCWCV22X7GUPJ23</lei>
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        <name>iShares Bitcoin Trust ETF</name>
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        <name>Intercontinental Exchange Inc</name>
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        <name>Direxion Daily Junior Gold Min</name>
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        <title>Direxion Daily Junior Gold Miners Index Bear 2X ETF</title>
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        <name>ProShares UltraShort Bloomberg</name>
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        <name>Direxion Daily S&amp;P Biotech Bea</name>
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        <title>Direxion Daily S&amp;P Biotech Bear 3X ETF</title>
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        <name>Landbridge Co LLC</name>
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        <name>Liberty Energy Inc</name>
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        <name>Kinetics Spin-off and Corporat</name>
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        <name>Mesabi Trust</name>
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        <name>Permian Basin Royalty Trust</name>
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        <name>Sabine Royalty Trust</name>
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      <invstOrSec>
        <name>WaterBridge Infrastructure LLC</name>
        <lei>N/A</lei>
        <title>WaterBridge Infrastructure LLC - Class A</title>
        <cusip>940923105</cusip>
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          <ticker value="WBI"/>
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        <balance>19664</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Western Midstream Partners LP</name>
        <lei>N/A</lei>
        <title>Western Midstream Partners LP</title>
        <cusip>958669103</cusip>
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          <ticker value="WES"/>
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        <balance>201</balance>
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        <curCd>USD</curCd>
        <valUSD>8275.17</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>White Mountains Insurance Grou</name>
        <lei>549300N3FL068JERBG02</lei>
        <title>White Mountains Insurance Group Ltd.</title>
        <cusip>G9618E107</cusip>
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          <isin value="BMG9618E1075"/>
          <ticker value="WTM"/>
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        <balance>2</balance>
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        <curCd>USD</curCd>
        <valUSD>4393.92</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ProShares UltraShort Silver</name>
        <lei>V7DVKGAJ7ZORY4IOJ616</lei>
        <title>ProShares UltraShort Silver</title>
        <cusip>74347Y672</cusip>
        <identifiers>
          <isin value="US74347Y6721"/>
          <ticker value="ZSL"/>
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        <balance>-24</balance>
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        <curCd>USD</curCd>
        <valUSD>-540.24</valUSD>
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        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Toei Animation Co Ltd</name>
        <lei>N/A</lei>
        <title>Toei Animation Co., Ltd.</title>
        <cusip>999999999</cusip>
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          <isin value="JP3560200002"/>
          <ticker value="4816 JP"/>
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        <balance>200</balance>
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        <currencyConditional curCd="JPY" exchangeRt="158.7050"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PetroHunter Energy Corp</name>
        <lei>N/A</lei>
        <title>PetroHunter Energy Corp.</title>
        <cusip>71649T104</cusip>
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          <isin value="US71649T1043"/>
          <ticker value="71649T10"/>
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        <balance>808445</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Associated Capital Group Inc</name>
        <lei>549300FBGXGSSUE01W24</lei>
        <title>Associated Capital Group, Inc. - Class A</title>
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          <isin value="US0455281065"/>
          <ticker value="ACGP"/>
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        <curCd>USD</curCd>
        <valUSD>38238.90</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Valterra Platinum Ltd</name>
        <lei>529900RORCZ0E5S5FX81</lei>
        <title>Valterra Platinum Ltd. - ADR</title>
        <cusip>03486T202</cusip>
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          <isin value="US03486T2024"/>
          <ticker value="ANGPY"/>
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        <curCd>USD</curCd>
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        <pctVal>0.0000605639</pctVal>
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        <assetConditional assetCat="OTHER" desc="Equity-Depositary Receipt"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Miami International Holdings I</name>
        <lei>254900TREUDBWGLAP788</lei>
        <title>Miami International Holdings, Inc.</title>
        <cusip>59356Q108</cusip>
        <identifiers>
          <isin value="US59356Q1085"/>
          <ticker value="MIAX"/>
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        <balance>5774</balance>
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        <curCd>USD</curCd>
        <valUSD>224724.08</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mesabi Trust</name>
        <lei>N/A</lei>
        <title>Mesabi Trust</title>
        <cusip>590672101</cusip>
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          <isin value="US5906721015"/>
          <ticker value="MSB"/>
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        <balance>850</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26775</valUSD>
        <pctVal>0.1146815586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IG Port Inc</name>
        <lei>N/A</lei>
        <title>IG Port, Inc.</title>
        <cusip>999999999</cusip>
        <identifiers>
          <isin value="JP3833770005"/>
          <ticker value="3791 JP"/>
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        <balance>400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.7050"/>
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        <pctVal>0.0133321434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Anglo American PLC</name>
        <lei>549300S9XF92D1X8ME43</lei>
        <title>Anglo American PLC - ADR</title>
        <cusip>03485P409</cusip>
        <identifiers>
          <isin value="US03485P4090"/>
          <ticker value="NGLOY"/>
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        <balance>3</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <pctVal>0.0002778056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity-Depositary Receipt"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nocopi Technologies Inc</name>
        <lei>5493009FRT4CFZEPIO73</lei>
        <title>Nocopi Technologies, Inc.</title>
        <cusip>655213106</cusip>
        <identifiers>
          <isin value="US6552131061"/>
          <ticker value="NNUP"/>
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        <balance>100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>150000</valUSD>
        <pctVal>0.6424737175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Permian Basin Royalty Trust</name>
        <lei>N/A</lei>
        <title>Permian Basin Royalty Trust</title>
        <cusip>714236106</cusip>
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          <isin value="US7142361069"/>
          <ticker value="PBT"/>
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        <balance>6709</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>144377.68</valUSD>
        <pctVal>0.6183924319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pure Cycle Corp</name>
        <lei>N/A</lei>
        <title>Pure Cycle Corp.</title>
        <cusip>746228303</cusip>
        <identifiers>
          <isin value="US7462283034"/>
          <ticker value="PCYO"/>
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        <balance>100</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1006</valUSD>
        <pctVal>0.0043088571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PrairieSky Royalty Ltd</name>
        <lei>529900AXG582AP7CV733</lei>
        <title>PrairieSky Royalty Ltd.</title>
        <cusip>739721959</cusip>
        <identifiers>
          <isin value="CA7397211086"/>
          <ticker value="PSK CN"/>
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        <balance>16306</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PARTNERS VALUE INVESTMENTS L</name>
        <lei>N/A</lei>
        <title>Partners Value Investments LP</title>
        <cusip>70214W955</cusip>
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          <isin value="CA70214W1124"/>
          <ticker value="PVF-W CN"/>
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        <balance>40</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
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        <pctVal>0.0032945196</pctVal>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
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              <counterpartyName>Venture</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                <issuerName>PARTNERS VALUE INVESTMENTS L</issuerName>
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                  <ticker value="PVF-U CN"/>
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            <shareNo>1</shareNo>
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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
        <cusip>V7780T103</cusip>
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          <isin value="LR0008862868"/>
          <ticker value="RCL"/>
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        <balance>50</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13759</valUSD>
        <pctVal>0.0589319725</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SB TECHNOLOGY, Inc. SANDBOX AQ   /</name>
        <lei>N/A</lei>
        <title>SB TECHNOLOGY, Inc. SANDBOX AQ   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="SANDAQ"/>
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        <balance>11621</balance>
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        <curCd>USD</curCd>
        <valUSD>199997.41</valUSD>
        <pctVal>0.8566205299</pctVal>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ProShares UltraShort Bitcoin E</name>
        <lei>5299006MOOTBKNV8XL39</lei>
        <title>ProShares UltraShort Bitcoin ETF</title>
        <cusip>74349Y563</cusip>
        <identifiers>
          <isin value="US74349Y5630"/>
          <ticker value="SBIT"/>
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        <balance>-1</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-56.97</valUSD>
        <pctVal>-0.0002440115</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>iShares Silver Trust</name>
        <lei>549300K2C2CG14B0ZA09</lei>
        <title>iShares Silver Trust</title>
        <cusip>46428Q109</cusip>
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          <isin value="US46428Q1094"/>
          <ticker value="SLV"/>
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        <curCd>USD</curCd>
        <valUSD>272.56</valUSD>
        <pctVal>0.0011674176</pctVal>
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        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TETRA DIGITAL GROUP, Inc.   /</name>
        <lei>N/A</lei>
        <title>TETRA DIGITAL GROUP, Inc.   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="TETRA CN"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Texas Pacific Land Corp</name>
        <lei>N/A</lei>
        <title>Texas Pacific Land Corp.</title>
        <cusip>88262P102</cusip>
        <identifiers>
          <isin value="US88262P1021"/>
          <ticker value="TPL"/>
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        <balance>17172</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8149144.32</valUSD>
        <pctVal>34.9040736370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tejon Ranch Co</name>
        <lei>549300TMNDO77VJ6J111</lei>
        <title>Tejon Ranch Co.</title>
        <cusip>879080109</cusip>
        <identifiers>
          <isin value="US8790801091"/>
          <ticker value="TRC"/>
        </identifiers>
        <balance>240</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4521.60</valUSD>
        <pctVal>0.0193667277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TXSE Group, Inc. COMMON STOCK   /</name>
        <lei>N/A</lei>
        <title>TXSE Group, Inc. COMMON STOCK   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="TXSECODT"/>
        </identifiers>
        <balance>4350</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>100050</valUSD>
        <pctVal>0.4285299696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ProShares Ultra Bloomberg Crud</name>
        <lei>W8URCVXVZUOAQKWNXQ58</lei>
        <title>ProShares Ultra Bloomberg Crude Oil</title>
        <cusip>74347Y888</cusip>
        <identifiers>
          <isin value="US74347Y8883"/>
          <ticker value="UCO"/>
        </identifiers>
        <balance>-6</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-235.80</valUSD>
        <pctVal>-0.0010099687</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Urbana Corp</name>
        <lei>5493003WCSNG13LU3180</lei>
        <title>Urbana Corp.</title>
        <cusip>91707P950</cusip>
        <identifiers>
          <isin value="CA91707P1099"/>
          <ticker value="URB CN"/>
        </identifiers>
        <balance>103800</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>717071.38</valUSD>
        <pctVal>3.0713301014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Urbana Corp</name>
        <lei>5493003WCSNG13LU3180</lei>
        <title>Urbana Corp.</title>
        <cusip>91707P968</cusip>
        <identifiers>
          <isin value="CA91707P2089"/>
          <ticker value="URB/A CN"/>
        </identifiers>
        <balance>6900</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3911"/>
        <valUSD>42904.90</valUSD>
        <pctVal>0.1837684707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>2x Long VIX Futures ETF</name>
        <lei>549300VPUEG2PPXCMM61</lei>
        <title>2x Long VIX Futures ETF</title>
        <cusip>92891H606</cusip>
        <identifiers>
          <isin value="US92891H6062"/>
          <ticker value="UVIX"/>
        </identifiers>
        <balance>-10</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-86.60</valUSD>
        <pctVal>-0.0003709215</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ProShares Ultra VIX Short-Term</name>
        <lei>549300EWSOHHPOVKHV20</lei>
        <title>ProShares Ultra VIX Short-Term Futures ETF</title>
        <cusip>74347Y680</cusip>
        <identifiers>
          <isin value="US74347Y6804"/>
          <ticker value="UVXY"/>
        </identifiers>
        <balance>-41</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-2144.30</valUSD>
        <pctVal>-0.0091843759</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ProShares VIX Short-Term Futur</name>
        <lei>5493005DV5M62XOUEG74</lei>
        <title>ProShares VIX Short-Term Futures ETF</title>
        <cusip>74347Y730</cusip>
        <identifiers>
          <isin value="US74347Y7307"/>
          <ticker value="VIXY"/>
        </identifiers>
        <balance>-113</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-3881.55</valUSD>
        <pctVal>-0.0166252924</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Equity Funds"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barclays Bank PLC</name>
        <lei>N/A</lei>
        <title>iPath Series B S&amp;P 500 VIX Short-Term Futures ETN</title>
        <cusip>06748M196</cusip>
        <identifiers>
          <isin value="US06748M1962"/>
          <ticker value="VXX"/>
        </identifiers>
        <balance>-136</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-4855.20</valUSD>
        <pctVal>-0.0207955893</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The fund is reporting returns without deducting sales loads and redemption fees, if applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-06</ncom:dateSigned>
      <ncom:nameOfApplicant>RENN FUND, INC.</ncom:nameOfApplicant>
      <ncom:signature>/s/ Jay Kesslen</ncom:signature>
      <ncom:signerName>Jay Kesslen</ncom:signerName>
      <ncom:title>Chief Compliance Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
