Murray Stahl of RENN Fund, Inc. (RCG) adds shares across entities

Rhea-AI Filing Summary

RENN Fund, Inc. President, Co-Portfolio Manager and 10% owner Murray Stahl reported multiple open-market purchases of the company’s common stock on 01/29/2026 at $2.72 per share.

He bought 360 shares directly, bringing his direct holding to 144,134 shares. Additional purchases were made in accounts associated with his spouse and several affiliated entities: 18 shares in a spouse account (5,156 shares after the trade), 180 shares in Fromex Equity Corp. (129,828), 180 shares in FRMO Corp. (315,080), 296 shares in Horizon Common Inc. (354,242), 18 shares in Horizon Kinetics Hard Assets LLC (11,232), and 82 shares in Horizon Kinetics Asset Management LLC (64,826).

Footnotes state that these indirect account figures do not include the 144,134 shares held directly by Mr. Stahl and that he disclaims beneficial ownership of each indirect account 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)
01/29/2026

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	01/29/2026		P		360	A	$2.72	144,134	D
Common Stock	01/29/2026		P		18	A	$2.72	5,156(1)	I	Spouse
Common Stock	01/29/2026		P		180	A	$2.72	129,828(1)(2)	I	Fromex Equity Corp.
Common Stock	01/29/2026		P		180	A	$2.72	315,080(1)(2)	I	FRMO Corp.
Common Stock	01/29/2026		P		296	A	$2.72	354,242(1)(2)	I	Horizon Common Inc.
Common Stock	01/29/2026		P		18	A	$2.72	11,232(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	01/29/2026		P		82	A	$2.72	64,826(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 144,134 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	01/30/2026
	** 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.
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FAQ

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

Murray Stahl reported buying RENN Fund common stock on 01/29/2026 at $2.72 per share. The Form 4 shows both direct and indirect purchases across personal, spouse, and affiliated-entity accounts, reflecting additional exposure to RENN Fund through multiple ownership structures.

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

After the reported transaction, Murray Stahl directly holds 144,134 RENN Fund common shares. The Form 4 shows a direct purchase of 360 shares at $2.72 each, which increased his personally held position to this level, separate from his various indirect holdings.

Which indirect accounts bought RENN Fund (RCG) shares in this filing?

Indirect purchases occurred in accounts for a spouse and several entities. These include Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, each showing increased RENN Fund common stock balances after the 01/29/2026 trades.

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

All reported purchases of RENN Fund common stock were executed at $2.72 per share. This uniform price applies to the direct transaction and each indirect transaction across the spouse and affiliated-entity accounts listed in the Form 4 for the 01/29/2026 trades.

What ownership disclaimers does Murray Stahl make in this RENN Fund (RCG) Form 4?

Stahl disclaims beneficial ownership of each indirect account except for his pecuniary interest. A footnote also clarifies that one reported figure does not include 144,134 shares he holds directly, distinguishing his personal holdings from those of related entities and accounts.