Murray Stahl adds RENN Fund (RCG) shares directly and via entities

Rhea-AI Filing Summary

Murray Stahl, President, Co-Portfolio Manager and a 10% owner of RENN Fund, Inc., reported multiple open-market purchases of common stock on January 27, 2026 at $2.70 per share. He bought 360 shares directly, bringing his direct holding to 143,414 shares.

Additional purchases were made in accounts associated with his spouse and several entities, including Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. For each indirect account, he disclaims beneficial ownership except to the extent of any pecuniary interest.

Insider Trade Summary

Net Buyer: 1,134 shares ($3,062)

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	$2.70	$972.00
Purchase	Common Stock	18	$2.70	$48.60
Purchase	Common Stock	180	$2.70	$486.00
Purchase	Common Stock	180	$2.70	$486.00
Purchase	Common Stock	296	$2.70	$799.20
Purchase	Common Stock	18	$2.70	$48.60
Purchase	Common Stock	82	$2.70	$221.40

Holdings After Transaction: Common Stock — 143,414 shares (Direct); Common Stock — 5,120 shares (Indirect, Spouse)

Footnotes (1)

1. This figure does not include 143,414 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.

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)
01/27/2026

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	01/27/2026		P		360	A	$2.7	143,414	D
Common Stock	01/27/2026		P		18	A	$2.7	5,120(1)	I	Spouse
Common Stock	01/27/2026		P		180	A	$2.7	129,468(1)(2)	I	Fromex Equity Corp.
Common Stock	01/27/2026		P		180	A	$2.7	314,720(1)(2)	I	FRMO Corp.
Common Stock	01/27/2026		P		296	A	$2.7	353,650(1)(2)	I	Horizon Common Inc.
Common Stock	01/27/2026		P		18	A	$2.7	11,196(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	01/27/2026		P		82	A	$2.7	64,662(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 143,414 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	01/28/2026
	** 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 Murray Stahl report for RENN Fund (RCG)?

Murray Stahl reported buying RENN Fund common stock on January 27, 2026 at $2.70 per share. He purchased 360 shares directly and additional shares through his spouse and several affiliated entities, reflecting continued exposure to the fund’s stock across multiple accounts.

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

After the reported transaction, Murray Stahl directly holds 143,414 shares of RENN Fund common stock. This direct position is separate from additional indirect holdings reported through his spouse and various investment entities, which are disclosed with a disclaimer of beneficial ownership beyond any pecuniary interest.

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

Indirect RENN Fund holdings are reported in accounts for his spouse and entities including Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC. Stahl disclaims beneficial ownership in these indirect accounts except for any pecuniary interest.

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

All reported purchases of RENN Fund common stock on January 27, 2026 were executed at $2.70 per share. This price applies to both Stahl’s direct acquisition of 360 shares and each small additional purchase made through his spouse and the affiliated investment entities.

What roles does Murray Stahl hold at RENN Fund (RCG)?

Murray Stahl is identified as President, Co-Portfolio Manager and a 10% owner of RENN Fund, Inc. These roles indicate both executive responsibility and significant ownership, making his share transactions and reported holdings particularly relevant for tracking insider activity at the fund.