Murray Stahl adds RENN Fund (NYSE: RCG) shares in open‑market buys

Rhea-AI Filing Summary

RENN Fund, Inc. insider Murray Stahl, the President/Co-Portfolio Manager and a more than 10% owner, reported multiple open‑market purchases of common stock on March 10, 2026. He bought a total of 1,134 shares at $2.93 per share across direct and indirect accounts.

Directly, he acquired 360 shares, bringing his direct holdings to 153,854 shares. Indirect purchases through his spouse and entities including Fromex Equity Corp., FRMO Corp., Horizon Common Inc., and Horizon Kinetics affiliates modestly increased their reported positions. Footnotes state he disclaims beneficial ownership of the indirect accounts except to the extent of any pecuniary interest.

Insider Trade Summary

Net Buyer: 1,134 shares ($3,323)

Net Buy 7 txns

Insider STAHL MURRAY

Role President/Co-Portfolio Manager

Bought 1,134 shs ($3K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	360	$2.93	$1K
Purchase	Common Stock	18	$2.93	$52.74
Purchase	Common Stock	180	$2.93	$527.40
Purchase	Common Stock	180	$2.93	$527.40
Purchase	Common Stock	296	$2.93	$867.28
Purchase	Common Stock	18	$2.93	$52.74
Purchase	Common Stock	82	$2.93	$240.26

Holdings After Transaction: Common Stock — 153,854 shares (Direct); Common Stock — 5,642 shares (Indirect, Spouse)

Footnotes (1)

1. This figure does not include 153,854 shares held directly by Mr. Stahl. For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

STAHL MURRAY

(Last) (First) (Middle)

C/O HORIZON KINETICS LLC

470 PARK AVE S 8TH FL S

(Street)

NEW YORK NY 10016

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RENN Fund, Inc. [ RCG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	President/Co-Portfolio Manager

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/10/2026		P		360	A	$2.93	153,854	D
Common Stock	03/10/2026		P		18	A	$2.93	5,642(1)	I	Spouse
Common Stock	03/10/2026		P		180	A	$2.93	134,688(1)(2)	I	Fromex Equity Corp.
Common Stock	03/10/2026		P		180	A	$2.93	319,940(1)(2)	I	FRMO Corp.
Common Stock	03/10/2026		P		296	A	$2.93	362,234(1)(2)	I	Horizon Common Inc.
Common Stock	03/10/2026		P		18	A	$2.93	11,718(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	03/10/2026		P		82	A	$2.93	67,040(1)(2)	I	Horizon Kinetics Asset Management LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This figure does not include 153,854 shares held directly by Mr. Stahl.

2. For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

	/s/Jay Kesslen, attorney-in-fact	03/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did RCG's Murray Stahl report on March 10, 2026?

Murray Stahl reported open‑market purchases of 1,134 RENN Fund (RCG) common shares on March 10, 2026 at $2.93 per share. The trades were split between his direct holdings and several indirect accounts linked to his spouse and affiliated entities.

How many RCG shares does Murray Stahl hold directly after these trades?

After the reported purchases, Murray Stahl directly holds 153,854 RENN Fund (RCG) shares. This figure comes from the post‑transaction balance for his direct account and is separate from the additional shares held through various indirect accounts disclosed in the same filing.

Which indirect accounts associated with Murray Stahl bought RCG shares?

Indirect purchases were reported for accounts labeled Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, each acquiring small blocks of RENN Fund (RCG) common shares at $2.93.

Does Murray Stahl claim full beneficial ownership of the indirect RCG holdings?

No. A footnote explains that for each indirect account, Murray Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any. This means economic exposure may exist, but he does not assert full beneficial ownership of those indirect positions.

Were the RCG insider trades classified as purchases or sales?

All reported transactions are coded as P, described as open‑market or private purchases. The filing’s summary shows seven buy transactions totaling 1,134 shares and no sales, indicating a net increase in the reported RENN Fund (RCG) share positions.

What price did Murray Stahl pay for his RENN Fund (RCG) purchases?

Each transaction lists a purchase price of $2.93 per share for RENN Fund (RCG) common stock. This price applies consistently across the direct and indirect accounts, reflecting small, similarly priced open‑market purchases on the same reported transaction date.