RENN Fund executive buys 1,134 shares at $3.27

RENN Fund, Inc. President and Co-Portfolio Manager Murray Stahl, who is also a ten-percent owner, bought additional common shares in open-market transactions.

Accepted by SEC EDGAR 04/06/2026 - 02:39 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

RENN Fund, Inc. President and Co-Portfolio Manager Murray Stahl, who is also a ten-percent owner, bought additional common shares in open-market transactions. On April 2, 2026, he purchased a total of 1,134 shares at $3.27 per share across direct and indirect accounts.

Following these trades, Stahl held 159,968 shares directly, with additional indirect holdings reported for his spouse and several affiliated entities. For each indirect account, he disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

Insider Trade Summary

Net Buyer: 1,134 shares

Net Buy 7 txns

Insider STAHL MURRAY

Role President/Co-Portfolio Manager

Bought 1,134 shs ($4K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	360	$3.27	$1K
Purchase	Common Stock	18	$3.27	$58.86
Purchase	Common Stock	180	$3.27	$588.60
Purchase	Common Stock	180	$3.27	$588.60
Purchase	Common Stock	296	$3.27	$967.92
Purchase	Common Stock	18	$3.27	$58.86
Purchase	Common Stock	82	$3.27	$268.14

Holdings After Transaction: Common Stock — 159,968 shares (Direct); Common Stock — 5,948 shares (Indirect, Spouse); Common Stock — 137,748 shares (Indirect, Fromex Equity Corp.); Common Stock — 323,000 shares (Indirect, FRMO Corp.); Common Stock — 367,266 shares (Indirect, Horizon Common Inc.); Common Stock — 12,024 shares (Indirect, Horizon Kinetics Hard Assets LLC); Common Stock — 68,434 shares (Indirect, Horizon Kinetics Asset Management LLC)

Footnotes (2)

1. F1. This figure does not include 159,968 shares held directly by Mr. Stahl.
2. F2. For each indirect account, Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

Key Figures

Total shares bought: 1,134 shares Purchase price: $3.27 per share Direct holdings after trade: 159,968 shares +3 more

6 metrics

Total shares bought 1,134 shares Open-market purchases on April 2, 2026

Purchase price $3.27 per share Common Stock buys on April 2, 2026

Direct holdings after trade 159,968 shares Common Stock held directly by Murray Stahl

Direct shares bought 360 shares Direct open-market purchase on April 2, 2026

Indirect shares via spouse 18 shares Spouse account, post-transaction holdings 5,948 shares

Net share change 1,134 shares Net buy across all reported transactions

Key Terms

open-market purchase, indirect ownership, beneficial ownership, pecuniary interest, +1 more

5 terms

open-market purchase financial

"transaction_action: "open-market purchase" for each Common Stock trade"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

indirect ownership financial

"transactions marked ownership_type "indirect" with nature_of_ownership entities"

beneficial ownership financial

"footnote: "disclaims beneficial ownership except to the extent of his pecuniary interest""

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"footnote: "except to the extent of his pecuniary interest, if any""

ten percent owner financial

"is_ten_percent_owner: 1 for reporting person Murray Stahl"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did RENN Fund (RCG) report for Murray Stahl?

Murray Stahl reported open-market purchases of 1,134 RENN Fund common shares on April 2, 2026, at $3.27 per share. These buys were split between his direct holdings and multiple indirect accounts tied to his spouse and affiliated entities.

How many RENN Fund (RCG) shares does Murray Stahl hold directly after these trades?

After the reported transactions, Murray Stahl directly holds 159,968 RENN Fund common shares. This figure is separate from various indirect positions reported for his spouse and affiliated entities, over which he disclaims beneficial ownership beyond any pecuniary interest.

At what price did Murray Stahl buy RENN Fund (RCG) shares in the latest Form 4?

All reported purchases were made at $3.27 per share for RENN Fund common stock. The Form 4 shows multiple open-market purchases on April 2, 2026, totaling 1,134 shares across Stahl’s direct account and several indirect ownership vehicles.

Which indirect entities are involved in Murray Stahl’s RENN Fund (RCG) holdings?

Indirect RENN Fund holdings are reported under Stahl’s spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., and Horizon Kinetics-affiliated LLCs. He disclaims beneficial ownership of these indirect accounts except for any pecuniary interest he may have.

How many RENN Fund (RCG) shares were bought through indirect accounts on April 2, 2026?

Indirect accounts purchased 774 RENN Fund shares on April 2, 2026, at $3.27 per share. These include transactions for Stahl’s spouse and several entities such as Fromex Equity Corp., FRMO Corp., Horizon Common Inc., and Horizon Kinetics-affiliated LLCs.

What does it mean that Murray Stahl disclaims beneficial ownership of some RENN Fund (RCG) shares?

The Form 4 states Stahl disclaims beneficial ownership of shares held in indirect accounts, except for any pecuniary interest. This means those shares are reported due to his relationship with the entities, but he does not claim full economic or voting control over them.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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 NEW YORK 10016

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/02/2026

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

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

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

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	04/02/2026		P		360	A	$3.27	159,968	D
Common Stock	04/02/2026		P		18	A	$3.27	5,948(1)	I	Spouse
Common Stock	04/02/2026		P		180	A	$3.27	137,748(1)(2)	I	Fromex Equity Corp.
Common Stock	04/02/2026		P		180	A	$3.27	323,000(1)(2)	I	FRMO Corp.
Common Stock	04/02/2026		P		296	A	$3.27	367,266(1)(2)	I	Horizon Common Inc.
Common Stock	04/02/2026		P		18	A	$3.27	12,024(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	04/02/2026		P		82	A	$3.27	68,434(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 159,968 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	04/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)