Murray Stahl (NYSE: RCG) adds RENN Fund shares via direct and indirect accounts

Rhea-AI Filing Summary

Murray Stahl, President/Co-Portfolio Manager and a 10% owner of RENN Fund, Inc., reported multiple open-market purchases of the fund’s common stock on January 15, 2026 at $2.64 per share. He bought 360 shares directly, bringing his direct holdings to 140,894 common shares.

Additional purchases at the same price were reported 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, with post-transaction holdings such as 4,994 shares for the spouse account, 128,208 for Fromex Equity Corp., and 351,578 for Horizon Common Inc. Stahl disclaims beneficial ownership in each indirect account 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)
01/15/2026

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	01/15/2026		P		360	A	$2.64	140,894	D
Common Stock	01/15/2026		P		18	A	$2.64	4,994(1)	I	Spouse
Common Stock	01/15/2026		P		180	A	$2.64	128,208(1)(2)	I	Fromex Equity Corp.
Common Stock	01/15/2026		P		180	A	$2.64	313,460(1)(2)	I	FRMO Corp.
Common Stock	01/15/2026		P		296	A	$2.64	351,578(1)(2)	I	Horizon Common Inc.
Common Stock	01/15/2026		P		18	A	$2.64	11,070(1)(2)	I	Horizon Kinetics Hard Assets LLC
Common Stock	01/15/2026		P		82	A	$2.64	64,088(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 140,894 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	01/16/2026
	** 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 did Murray Stahl report in this Form 4 for RENN Fund (RCG)?

He reported open-market purchases of RENN Fund common stock on January 15, 2026, including 360 shares bought directly at $2.64 per share.

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

After the reported transaction, Murray Stahl directly beneficially owns 140,894 shares of RENN Fund, Inc. common stock.

Were any RENN Fund (RCG) shares purchased through entities related to Murray Stahl?

Yes. Purchases at $2.64 per share were reported for accounts labeled Spouse, Fromex Equity Corp., FRMO Corp., Horizon Common Inc., Horizon Kinetics Hard Assets LLC, and Horizon Kinetics Asset Management LLC.

What are some of the updated indirect holdings reported for RENN Fund (RCG)?

Post-transaction holdings include 4,994 shares in the Spouse account, 128,208 shares for Fromex Equity Corp., 313,460 shares for FRMO Corp., and 351,578 shares for Horizon Common Inc.

Does Murray Stahl claim full beneficial ownership of the indirect RENN Fund (RCG) accounts?

No. A footnote states that for each indirect account, Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.

What is Murray Stahl’s role and status at RENN Fund (RCG)?

He is reported as an officer with the title President/Co-Portfolio Manager and as a 10% owner of RENN Fund, Inc.