RCG president boosts RENN Fund (RCG) stake with multiple share buys

Rhea-AI Filing Summary

Murray Stahl, President, Co-Portfolio Manager and a 10% owner of RENN Fund, Inc. (RCG), reported multiple open‑market purchases of the fund’s common stock on 01/26/2026 at $2.70 per share.

He bought 360 shares directly, bringing his directly held position to 143,054 common shares. Additional purchases were made through 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, with each indirect account showing updated share balances after the trades. Stahl disclaims beneficial ownership of the indirect holdings except to the extent of any pecuniary interest.

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

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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)
01/26/2026

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	01/26/2026		P		360	A	$2.7	143,054	D
Common Stock	01/26/2026		P		18	A	$2.7	5,102(1)	I	Spouse
Common Stock	01/26/2026		P		180	A	$2.7	129,288(1)(2)	I	Fromex Equity Corp.
Common Stock	01/26/2026		P		180	A	$2.7	314,540(1)(2)	I	FRMO Corp.
Common Stock	01/26/2026		P		296	A	$2.7	353,354(1)(2)	I	Horizon Common Inc.
Common Stock	01/26/2026		P		18	A	$2.7	11,178(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	01/26/2026		P		82	A	$2.7	64,580(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 143,054 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	01/27/2026
	** 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).
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FAQ

Who is the insider in this RENN Fund, Inc. (RCG) Form 4 filing?

The insider is Murray Stahl, who serves as President/Co-Portfolio Manager of RENN Fund, Inc. and is also reported as a 10% owner of the company.

What transactions did Murray Stahl report for RENN Fund (RCG) on January 26, 2026?

On 01/26/2026, Murray Stahl reported several open‑market purchases (code P) of RENN Fund common stock at $2.70 per share, including direct and indirect acquisitions.

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

Following the reported 360‑share direct purchase at $2.70, Murray Stahl beneficially owns 143,054 shares of RENN Fund common stock in his direct account.

What indirect holdings related to RENN Fund (RCG) are associated with Murray Stahl?

Indirect holdings are reported through his spouse and entities including Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC, each with its own share balance after the transactions.

What does Murray Stahl’s beneficial ownership disclaimer mean in this RCG Form 4?

The Form 4 states that, for each indirect account, Murray Stahl disclaims beneficial ownership of RENN Fund shares except to the extent of his pecuniary interest, if any, clarifying how those indirect positions relate to him economically.

Were any derivative securities reported in this RENN Fund (RCG) Form 4?

The filing’s Table II shows no derivative securities acquired, disposed of, or beneficially owned; all reported transactions involve common stock only.