Murray Stahl (RCG) adds RENN Fund shares via direct and entity buys

Rhea-AI Filing Summary

Murray Stahl, President/Co-Portfolio Manager and a 10% owner of RENN Fund, Inc. (RCG), reported multiple open-market purchases of the fund’s common stock on January 23, 2026 at a price of $2.70 per share. He acquired 360 shares directly, bringing his directly held position to 142,694 shares.

Additional purchases at the same price were reported in accounts labeled Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, all shown as indirectly owned. Stahl disclaims beneficial ownership of these indirect holdings except to the extent of his pecuniary interest, if any.

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)
01/23/2026

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	01/23/2026		P		360	A	$2.7	142,694	D
Common Stock	01/23/2026		P		18	A	$2.7	5,084(1)	I	Spouse
Common Stock	01/23/2026		P		180	A	$2.7	129,108(1)(2)	I	Fromex Equity Corp.
Common Stock	01/23/2026		P		180	A	$2.7	314,360(1)(2)	I	FRMO Corp.
Common Stock	01/23/2026		P		296	A	$2.7	353,058(1)(2)	I	Horizon Common Inc.
Common Stock	01/23/2026		P		18	A	$2.7	11,160(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	01/23/2026		P		82	A	$2.7	64,498(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 142,694 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	01/26/2026
	** 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 transaction did Murray Stahl report for RENN Fund (RCG)?

Murray Stahl reported open-market purchases of RENN Fund, Inc. (RCG) common stock on January 23, 2026, including a direct purchase and several indirect purchases.

How many RENN Fund (RCG) shares does Murray Stahl now hold directly?

After the reported transaction, Murray Stahl directly beneficially owns 142,694 shares of RENN Fund, Inc. common stock.

What price did Murray Stahl pay for the RENN Fund (RCG) shares?

All reported purchases of RENN Fund, Inc. common stock on January 23, 2026 were made at a price of $2.70 per share.

Were any of the RENN Fund (RCG) shares bought through entities related to Murray Stahl?

Yes. Indirect purchases were reported in accounts labeled Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC.

Does Murray Stahl claim full beneficial ownership of the indirect RENN Fund (RCG) holdings?

No. The filing states that for each indirect account, Murray Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

What is Murray Stahl’s role at RENN Fund, Inc. (RCG)?

Murray Stahl is identified as a 10% owner and serves as President/Co-Portfolio Manager of RENN Fund, Inc.