RCG: A Forgotten Closed-End Fund With Hidden Value [Seeking Alpha]
RENN Fund, Inc (RCG)
NASDAQ:AMEX Investor Relations:
rencapital.com/renn_global.php
Company Research
Source: Seeking Alpha
RCG: A Forgotten Closed-End Fund With Hidden Value Summary Horizon Kinetics took over the management of the RENN Global Entrepreneurs Fund in 2017. They will waive all management fees until the net assets exceed $25 million (more than double the current level). The fund trades at an 18% NAV discount, even though nearly half of the portfolio is in cash and the rest is in transparent publicly traded securities. The portfolio has significant exposure to upside in the oil & gas and precious metals sectors. Additionally, it has a small position in the cryptocurrency space. The fund is too small to attract major investors, and there is no imminent catalyst, but the alignment with management and the high optionality make it a solid long-term holding. RENN Global Entrepreneurs Fund ( RCG RCG was about to liquidate, when Horizon Kinetics, a well-known value investing firm, offered to take over the management contract recent rights offering Horizon Kinetics has approximately $5.5 billion in AUM
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RCG
Sec Filings
- 11/21/24 - Form 4
- 11/20/24 - Form 4
- 11/19/24 - Form 4
- RCG's page on the SEC website