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Key leadership shifts at RENN Fund (NYSE: RCG) after Murray Stahl’s death

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

RENN Fund, Inc. reported the death of Murray Stahl, Co-Founder, Chairman, CEO and CIO of its investment adviser Horizon Kinetics Asset Management LLC and Co-Portfolio Manager of the Fund since 2017. He passed away on April 7, 2026.

On April 23, 2026, the Board unanimously appointed Peter Doyle, Co-Founder and Co-Chief Executive Officer of Horizon Kinetics and a Co-Portfolio Manager of the Fund, as President, Chief Executive Officer and Chief Financial Officer of the Fund. The Board also added James Davolos, a Portfolio Manager and Research Analyst at the adviser, to the Fund’s portfolio management team.

Positive

  • None.

Negative

  • Loss of key investment leader: The passing of Murray Stahl, a long-serving Co-Portfolio Manager of RENN Fund and senior leader of its investment adviser, introduces key-person risk and a notable change in the Fund’s investment leadership structure.

Insights

RENN Fund discloses key adviser leader’s death and installs new officers and portfolio manager.

The Fund announces the passing of Murray Stahl, a central figure at its adviser and Co-Portfolio Manager, which removes a long-tenured investment decision-maker. This is a meaningful leadership change for a concentrated management team.

The Board responded on April 23, 2026 by appointing Peter Doyle as President, CEO and CFO of the Fund and adding experienced analyst and portfolio manager James Davolos to the portfolio team. Both are long-associated with the adviser, suggesting continuity of the existing investment approach.

Future shareholder communications and periodic reports may clarify how responsibilities between Doyle and Davolos are divided and whether any changes to the Fund’s strategy, risk profile, or disclosures follow this transition.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Murray Stahl date of death April 7, 2026 Passing of Co-Portfolio Manager and adviser CEO/CIO
Board approval date April 23, 2026 Board approved officer and portfolio team changes
Portfolio manager tenure start 2017 Murray Stahl serving as Co-Portfolio Manager since 2017
James Davolos join year 2005 Year Davolos joined the adviser firm
investment adviser financial
"Horizon Kinetics Asset Management LLC (“HKAM”), the Fund’s investment adviser,"
An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.
Board of Directors financial
"The Board of Directors (“Board”), on behalf of the Fund, regrets to inform"
The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.
Co-Portfolio Manager financial
"and Co-Portfolio Manager of the Fund since 2017, passed away"
Inflation Beneficiaries ETF (INFL) financial
"serves as Co-Portfolio Manager for the Inflation Beneficiaries ETF (INFL), as well as"
Securities Exchange Act of 1934 regulatory
"Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,"
Understanding 8-K Material Events →
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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): April 23, 2026

 

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: 646-291-2300

 

1999 Bryan Street, Suite 900

Dallas, TX 75201-3136

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

11520 North N. Central Expressway, Suite 162

Dallas, TX 75243

 

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”)

 

 

 

The Board of Directors (“Board”), on behalf of the Fund, regrets to inform Fund shareholders that Murray Stahl, Co-Founder, Chairman, Chief Executive Officer and Chief Investment Officer of Horizon Kinetics Asset Management LLC (“HKAM”), the Fund’s investment adviser, and Co-Portfolio Manager of the Fund since 2017, passed away on April 7, 2026.

 

On April 23, 2026, the Board approved changes to the officers and portfolio team of the Fund as described herein.

 

The Board, with unanimous written consent, has appointed Peter Doyle, Co-Founder and Co-Chief Executive Officer of HKAM and a Co-Portfolio Manager of the Fund, as President, Chief Executive Officer and Chief Financial Officer of the Fund.

 

Additionally, James Davolos has been added to the Fund’s Portfolio Management team.

 

James Davolos is a Portfolio Manager and Research Analyst of the Fund. James joined the Firm in 2005 and currently serves as Co-Portfolio Manager for the Inflation Beneficiaries ETF (INFL), as well as several investment companies, private funds and separately managed accounts. James began his tenure on the investment team as a generalist analyst covering investment and research opportunities for various strategies managed by the Firm. James received a BBA in Finance from Loyola University in Maryland and an MBA from New York University.

 

 

 

 

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: April 28, 2026 By: /s/ Jay Kesslen  
    Jay Kesslen
    Vice President

 

 

Source: View Original Filing on SEC EDGAR

FAQ

What did RENN Fund (RCG) disclose in this 8-K filing?

RENN Fund disclosed that Murray Stahl, Co-Portfolio Manager of the Fund and senior executive of its investment adviser, died on April 7, 2026. The Board then approved leadership and portfolio management changes on April 23, 2026 to address this transition.

Who was Murray Stahl in relation to RENN Fund (RCG)?

Murray Stahl was Co-Founder, Chairman, Chief Executive Officer and Chief Investment Officer of Horizon Kinetics Asset Management, RENN Fund’s investment adviser, and served as a Co-Portfolio Manager of the Fund since 2017. His role tied directly to the Fund’s investment decisions and oversight.

Who is now leading RENN Fund (RCG) after Murray Stahl’s death?

The Board unanimously appointed Peter Doyle, Co-Founder and Co-Chief Executive Officer of Horizon Kinetics and a Co-Portfolio Manager of the Fund, as President, Chief Executive Officer and Chief Financial Officer of RENN Fund. This consolidates the Fund’s executive leadership under an existing portfolio manager.

What changes were made to the RENN Fund (RCG) portfolio management team?

The Board added James Davolos to the Fund’s portfolio management team. Davolos is a Portfolio Manager and Research Analyst who joined the adviser in 2005 and co-manages the Inflation Beneficiaries ETF (INFL) along with other investment companies, private funds and separate accounts.

When did RENN Fund’s Board approve the leadership changes?

RENN Fund’s Board, acting by unanimous written consent, approved the officer and portfolio management changes on April 23, 2026. This followed the April 7, 2026 passing of Murray Stahl and was intended to formalize new executive and portfolio responsibilities for the Fund.

Does the 8-K mention any change in RENN Fund’s investment strategy?

The filing focuses on leadership and portfolio management personnel changes and does not describe any revised investment strategy. It emphasizes Peter Doyle’s expanded officer roles and the addition of experienced manager and analyst James Davolos to the Fund’s portfolio team.

Filing Exhibits & Attachments

3 documents

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