Murray Stahl (RCG) adds RENN Fund shares across multiple accounts

Rhea-AI Filing Summary

RENN Fund, Inc. President and Co-Portfolio Manager Murray Stahl, a greater-than-10% owner, reported open-market purchases of a total of 1,134 shares of common stock of RCG on March 13, 2026 at $3.05 per share.

After these trades, examples of reported holdings include 154,934 shares held directly, 363,122 shares held indirectly through Horizon Common Inc., and other indirect positions via his spouse and entities such as Fromex Equity Corp., FRMO Corp., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC.

Stahl disclaims beneficial ownership of the indirect accounts 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
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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)
03/13/2026

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	03/13/2026		P		360	A	$3.05	154,934	D
Common Stock	03/13/2026		P		18	A	$3.05	5,696(1)	I	Spouse
Common Stock	03/13/2026		P		180	A	$3.05	135,228(1)(2)	I	Fromex Equity Corp.
Common Stock	03/13/2026		P		180	A	$3.05	320,480(1)(2)	I	FRMO Corp.
Common Stock	03/13/2026		P		296	A	$3.05	363,122(1)(2)	I	Horizon Common Inc.
Common Stock	03/13/2026		P		18	A	$3.05	11,772(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	03/13/2026		P		82	A	$3.05	67,286(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 154,934 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	03/16/2026
	** 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 buying RENN Fund (RCG) common stock in the open market. He executed several purchases totaling 1,134 shares on March 13, 2026, at $3.05 per share, spread across his direct account, spouse, and multiple related investment entities.

How many RCG shares did Murray Stahl buy and at what price?

He acquired 1,134 RCG common shares at $3.05 per share in open-market transactions. These buys were reported across one direct holding and several indirect accounts, including spouse and affiliated entities, all on March 13, 2026, according to the Form 4 data.

What are Murray Stahl’s direct RCG share holdings after these trades?

Following the reported transactions, Murray Stahl’s direct RCG holding is 154,934 common shares. This figure relates only to shares in his own name, separate from additional indirect positions reported through his spouse and several affiliated investment entities.

Which indirect accounts related to Murray Stahl hold RENN Fund (RCG) shares?

Indirect RCG holdings are reported through his spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Each entity shows its own share balance after the March 13, 2026, open-market purchases.

What does Murray Stahl’s Form 4 say about beneficial ownership of indirect RCG holdings?

The filing states that for each indirect account, Murray Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any. This means his economic stake is limited to whatever financial interest he actually holds in those related entities.

What role does Murray Stahl hold at RENN Fund, Inc. (RCG)?

Murray Stahl serves as President and Co-Portfolio Manager of RENN Fund, Inc. He is also identified as a greater-than-10% owner, which is why his open-market purchases of RCG common stock are reportable on a Form 4 insider trading report.