Insider buying at RENN Fund (RCG) as president adds 1,134 shares

Rhea-AI Filing Summary

RENN Fund, Inc. President and Co-Portfolio Manager Murray Stahl reported open-market purchases of RCG common stock totaling 1,134 shares on March 31, 2026 at $3.24 per share. The filing shows 360 shares bought in his direct account and additional purchases across several indirect accounts.

After these transactions, Stahl holds 159,248 shares directly. Indirect holdings are reported through his spouse and entities such as Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, where he disclaims beneficial ownership except for any pecuniary interest.

Insider Trade Summary

Net Buyer: 1,134 shares ($3,674)

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	$3.24	$1K
Purchase	Common Stock	18	$3.24	$58.32
Purchase	Common Stock	180	$3.24	$583.20
Purchase	Common Stock	180	$3.24	$583.20
Purchase	Common Stock	296	$3.24	$959.04
Purchase	Common Stock	18	$3.24	$58.32
Purchase	Common Stock	82	$3.24	$265.68

Holdings After Transaction: Common Stock — 159,248 shares (Direct); Common Stock — 5,912 shares (Indirect, Spouse)

Footnotes (1)

1. This figure does not include 159,248 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.

Key Figures

Total shares bought: 1,134 shares Purchase price: $3.24 per share Direct holdings after trade: 159,248 shares +5 more

8 metrics

Total shares bought 1,134 shares Net open-market purchases on March 31, 2026

Purchase price $3.24 per share Price for each reported common stock transaction

Direct holdings after trade 159,248 shares Common stock held directly by Murray Stahl after purchases

Spouse holdings after trade 5,912 shares Indirect common stock holdings via Spouse account

Fromex Equity Corp. holdings 137,388 shares Indirect common stock holdings via Fromex Equity Corp.

FRMO Corp. holdings 322,640 shares Indirect common stock holdings via FRMO Corp.

Horizon Common Inc. holdings 366,674 shares Indirect common stock holdings via Horizon Common Inc.

Horizon Kinetics Asset Management LLC holdings 68,270 shares Indirect common stock holdings via Horizon Kinetics Asset Management LLC

Key Terms

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

5 terms

open-market purchase financial

"transaction_action: open-market purchase of common stock"

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.

beneficial ownership financial

"Stahl disclaims beneficial ownership in indirect accounts"

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

"disclaims beneficial ownership except to extent of pecuniary interest"

indirect ownership financial

"transactions reported under indirect ownership through affiliated entities"

Form 4 regulatory

"Insider transactions disclosed on SEC Form 4"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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 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)
03/31/2026

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	03/31/2026		P		360	A	$3.24	159,248	D
Common Stock	03/31/2026		P		18	A	$3.24	5,912(1)	I	Spouse
Common Stock	03/31/2026		P		180	A	$3.24	137,388(1)(2)	I	Fromex Equity Corp.
Common Stock	03/31/2026		P		180	A	$3.24	322,640(1)(2)	I	FRMO Corp.
Common Stock	03/31/2026		P		296	A	$3.24	366,674(1)(2)	I	Horizon Common Inc.
Common Stock	03/31/2026		P		18	A	$3.24	11,988(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	03/31/2026		P		82	A	$3.24	68,270(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 159,248 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	04/01/2026
	** 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)

FAQ

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

Murray Stahl reported buying a total of 1,134 shares of RENN Fund (RCG) common stock in open-market transactions at $3.24 per share. The purchases were split between his direct account and several indirect accounts linked to his spouse and affiliated entities.

How many RENN Fund (RCG) shares does Murray Stahl hold directly after this filing?

After these transactions, Murray Stahl directly holds 159,248 RENN Fund (RCG) common shares. This figure reflects only his personal direct ownership and is separate from indirect holdings reported through his spouse and various affiliated entities listed in the Form 4.

At what price were the RENN Fund (RCG) insider purchases made?

All reported insider purchases of RENN Fund (RCG) common stock were made at $3.24 per share. Each of the seven transactions on March 31, 2026, uses this same price, covering both Stahl’s direct account and the different indirect ownership accounts.

Which indirect entities associated with Murray Stahl bought RENN Fund (RCG) shares?

Indirect purchases were reported through accounts identified as Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Stahl disclaims beneficial ownership of these indirect holdings except to the extent of any pecuniary interest.

Were the RENN Fund (RCG) insider transactions open-market purchases or another type?

All reported transactions were coded “P,” meaning open-market or private purchases of common stock. The Form 4 labels each as an open-market purchase rather than option exercises, gifts, tax withholdings, or restructurings, indicating straightforward share acquisitions on March 31, 2026.

How many RENN Fund (RCG) shares were bought indirectly versus directly?

Of the 1,134 total shares purchased, 360 were acquired directly in Murray Stahl’s own account. The remaining 774 shares were bought through indirect accounts, including his spouse and several affiliated entities, with Stahl disclaiming beneficial ownership except for any pecuniary interest.